Document:

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                                                                    EXHIBIT 10.4

                                                                  EXECUTION COPY

================================================================================
                                          Published CUSIP Number _______________

                   FIRST AMENDED AND RESTATED CREDIT AGREEMENT

                            Dated as of May 23, 2005

                                      among

                           COMMERCIAL METALS COMPANY,
                                as the Borrower,

                             BANK OF AMERICA, N.A.,
          as Administrative Agent, Swing Line Lender and an L/C Issuer,

                       THE BANK OF TOKYO-MITSUBISHI, LTD.
                              as Syndication Agent,

                                   BNP PARIBAS
                                SCOTIABANC, INC.
                                       and
                          WELLS FARGO HSBC TRADE BANK,
                                       as
                            Co-Documentation Agents,

                                       and

                         The Other Lenders Party Hereto

================================================================================

                         BANC OF AMERICA SECURITIES LLC,
                                       as
                         Book Manager and Lead Arranger

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                                Table of Contents

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ARTICLE I DEFINITIONS AND ACCOUNTING TERMS

      1.01     Defined Terms............................................................................    1
      1.02     Other Interpretive Provisions............................................................   21
      1.03     Accounting Terms.........................................................................   22
      1.04     Rounding.................................................................................   22
      1.05     References to Agreements and Laws........................................................   22
      1.06     Times of Day.............................................................................   23
      1.07     Letter of Credit Amounts.................................................................   23

ARTICLE II THE COMMITMENTS AND CREDIT EXTENSIONS

      2.01     Revolving Loans..........................................................................   23
      2.02     Revolving Borrowings, Conversions and Continuations of Revolving Loans...................   23
      2.03     Letters of Credit........................................................................   25
      2.04     Swing Line Loans.........................................................................   33
      2.05     Prepayments..............................................................................   36
      2.06     Termination or Reduction of Commitments..................................................   37
      2.07     Repayment................................................................................   37
      2.08     Interest.................................................................................   37
      2.09     Fees.....................................................................................   38
      2.10     Computation of Interest and Fees.........................................................   38
      2.11     Evidence of Debt.........................................................................   39
      2.12     Payments Generally.......................................................................   39
      2.13     Sharing of Payments......................................................................   41
      2.14     Increase in Commitments..................................................................   42

ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY

      3.01     Taxes....................................................................................   43
      3.02     Illegality...............................................................................   44
      3.03     Inability to Determine Rates.............................................................   44
      3.04     Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurodollar Rate Loans...   45
      3.05     Funding Losses...........................................................................   46
      3.06     Matters Applicable to all Requests for Compensation......................................   46
      3.07     Limitation on Compensation...............................................................   46
      3.08     Survival.................................................................................   47

ARTICLE IV CONDITIONS PRECEDENT TO Credit Extensions

      4.01     Conditions of Initial Credit Extension...................................................   47
      4.02     Conditions to all Credit Extensions......................................................   48

ARTICLE V REPRESENTATIONS AND WARRANTIES

      5.01     Subsidiaries.............................................................................   49
      5.02     Existence, Qualification and Power; Compliance with Laws.................................   49
      5.03     Authorization; No Contravention..........................................................   49
      5.04     Governmental Authorization; Other Consents...............................................   50
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                                Table of Contents
                                   (continued)

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      5.05     Binding Effect...................................................................   50
      5.06     Financial Statements; No Material Adverse Effect.................................   50
      5.07     Litigation.......................................................................   51
      5.08     No Default.......................................................................   51
      5.09     Ownership of Property; Liens.....................................................   51
      5.10     Environmental Compliance.........................................................   51
      5.11     Insurance........................................................................   51
      5.12     Taxes............................................................................   52
      5.13     ERISA Compliance.................................................................   52
      5.14     Margin Regulations; Investment Company Act; Public Utility Holding Company Act...   53
      5.15     Disclosure.......................................................................   53
      5.16     Compliance with Laws.............................................................   53
      5.17     Solvent..........................................................................   53

ARTICLE VI AFFIRMATIVE COVENANTS

      6.01     Financial Statements.............................................................   54
      6.02     Certificates; Other Information..................................................   55
      6.03     Notices..........................................................................   57
      6.04     Payment of Obligations...........................................................   57
      6.05     Preservation of Existence, Etc...................................................   57
      6.06     Maintenance of Properties........................................................   58
      6.07     Maintenance of Insurance.........................................................   58
      6.08     Compliance with Laws.............................................................   58
      6.09     Books and Records................................................................   58
      6.10     Inspection Rights................................................................   58
      6.11     Use of Proceeds..................................................................   58

ARTICLE VII NEGATIVE COVENANTS

      7.01     Liens............................................................................   59
      7.02     Mergers and Consolidations.......................................................   60
      7.03     Sales of Assets..................................................................   60
      7.04     Change in Nature of Business.....................................................   61
      7.05     Transactions with Affiliates.....................................................   61
      7.06     Burdensome Agreements............................................................   61
      7.07     Use of Proceeds..................................................................   62
      7.08     Interest Coverage Ratio..........................................................   62
      7.09     Debt to Capitalization Ratio.....................................................   62
      7.10     ERISA............................................................................   62
      7.11     Accounting Changes...............................................................   62
      7.12     Speculative Hedges...............................................................   62

ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES

      8.01     Events of Default................................................................   62
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                                Table of Contents
                                   (continued)

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      8.02     Remedies Upon Event of Default...........................   64
      8.03     Application of Funds.....................................   65

ARTICLE IX ADMINISTRATIVE AGENT

      9.01     Appointment and Authority................................   66
      9.02     Rights as a Lender.......................................   66
      9.03     Exculpatory Provisions...................................   66
      9.04     Reliance by Administrative Agent.........................   67
      9.05     Delegation of Duties.....................................   67
      9.06     Resignation of Administrative Agent......................   67
      9.07     Non-Reliance on Administrative Agent and Other Lenders...   68
      9.08     No Other Duties, Etc.....................................   69
      9.09     Administrative Agent May File Proofs of Claim............   69
      9.10     Indemnification of Administrative Agent..................   70

ARTICLE X MISCELLANEOUS

      10.01    Amendments, Etc..........................................   70
      10.02    Notices; Effectiveness; Electronic Communication.........   71
      10.03    No Waiver; Cumulative Remedies...........................   73
      10.04    Attorney Costs, Expenses and Taxes.......................   73
      10.05    Indemnification by the Borrower..........................   74
      10.06    Payments Set Aside.......................................   75
      10.07    Successors and Assigns...................................   76
      10.08    Confidentiality..........................................   79
      10.09    Set-off..................................................   80
      10.10    Interest Rate Limitation.................................   80
      10.11    Counterparts.............................................   81
      10.12    Integration..............................................   81
      10.13    Survival of Representations and Warranties...............   81
      10.14    Severability.............................................   81
      10.15    Tax Forms................................................   82
      10.16    Replacement of Lenders...................................   83
      10.17    Governing Law............................................   84
      10.18    Waiver of Right to Trial by Jury.........................   84
      10.19    USA PATRIOT Act Notice...................................   85
      10.20    ENTIRE AGREEMENT.........................................   85
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SCHEDULES

      1.01  Existing Letters of Credit

      2.01  Commitments and Pro Rata Shares

      5.01  Subsidiaries

      5.06  Supplement to Interim Financial Statements

      7.01  Existing Liens

      10.02 Administrative Agent's Office, Certain Addresses for Notices

      10.06 Processing and Recordation Fees

EXHIBITS

            FORM OF

      A     Revolving Loan Notice

      B     Revolving Loan Note

      C     Compliance Certificate

      D     Assignment and Assumption

      E     Swing Line Note

      F     Swing Line Notice

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<PAGE>

                   FIRST AMENDED AND RESTATED CREDIT AGREEMENT

      This FIRST AMENDED AND RESTATED CREDIT AGREEMENT ("Agreement") is entered
into as of May 23, 2005, among COMMERCIAL METALS COMPANY, a Delaware corporation
(the "Borrower"), each lender from time to time party hereto (collectively, the
"Lenders" and individually, a "Lender"), and BANK OF AMERICA, N.A., as
Administrative Agent, Swing Line Lender and an L/C Issuer, and THE BANK OF
TOKYO-MITSUBISHI, LTD., as Syndication Agent, BNP PARIBAS, SCOTIABANC, INC. and
WELLS FARGO HSBC TRADE BANK, as Co-Documentation Agents.

      The Borrower, certain of the Lenders and the Administrative Agent are
parties to that certain Credit Agreement, dated as of August 8, 2003, providing
for a credit facility to the Borrower in the maximum principal amount of
$275,000,000.00 (as heretofore amended and as in effect on the date of this
Agreement, the "Existing Credit Agreement"). The parties hereto desire to amend
and restate the Existing Credit Agreement as hereafter set forth.

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

      In consideration of the mutual covenants and agreements herein contained,
the parties hereto covenant and agree that the Existing Credit Agreement is
hereby amended and restated in its entirety as follows:

                                    ARTICLE I
                        DEFINITIONS AND ACCOUNTING TERMS

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

      "Act" has the meaning specified in Section 10.19.

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

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

      "Administrative Questionnaire" means an Administrative Questionnaire in a
form supplied by the Administrative Agent.

      "Affiliate" means, with respect to any Person, another Person that
directly, or indirectly through one or more intermediaries, Controls or is
Controlled by or is under common Control with the Person specified. "Control"
means the possession, directly or indirectly, of the power to direct or cause
the direction of the management or policies of a Person, whether through the
ability to exercise voting power, by contract or otherwise. "Controlling" and
"Controlled" have meanings correlative thereto. Without limiting the generality
of the foregoing, a Person shall be deemed to be Controlled by another Person if
such other Person possesses, directly or indirectly,

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power to vote 5% or more of the securities having ordinary voting power for the
election of directors, managing general partners or the equivalent.

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

      "Aggregate Commitments" means the Commitments of all the Lenders.

      "Agreement" means this Credit Agreement.

      "Applicable Law" means (a) in respect of any Person, all provisions of
Laws applicable to such Person, and all orders and decrees of all courts and
determinations of arbitrators applicable to such Person and (b) in respect of
contracts made or performed in the State of Texas, "Applicable Law" shall also
mean the Laws of the United States of America, including, without limiting the
foregoing, 12 USC Sections 85 and 86, as amended to the date hereof and as the
same may be amended at any time and from time to time hereafter, and any other
statute of the United States of America now or at any time hereafter prescribing
the maximum rates of interest on loans and extensions of credit, and the Laws of
the State of Texas, including, without limitation, Chapter 303 of the Texas
Finance Code, as amended, and any other statute of the State of Texas now or at
any time hereafter prescribing maximum rates of interest on loans and extensions
of credit; provided that the parties hereto agree pursuant to Texas Finance Code
Section 346.004 that the provisions of Chapter 346 of the Texas Finance Code,
shall not apply to Loans, the Letters of Credit, this Agreement, the Notes or
any other Loan Documents.

      "Applicable Rate" means, from time to time, the following percentages per
annum, based upon the Debt Rating as set forth below:

<TABLE>
<CAPTION>
                                           APPLICABLE RATE
-------------------------------------------------------------------------------------------------------
                                                                   EURODOLLAR RATE +
                     DEBT RATINGS                                 LETTERS OF CREDIT +         BASE RATE
PRICING LEVEL        S&P/MOODY'S         FACILITY FEE         DAILY FLOATING LIBOR RATE +         +
-------------      ----------------      ------------         ---------------------------     ---------
<S>                <C>                   <C>                  <C>                             <C>
      1            A-/A3 or higher           0.080                       0.295                  0.000
      2               BBB+/Baa1              0.100                       0.400                  0.000
      3                BBB/Baa2              0.125                       0.500                  0.000
      4               BBB-/Baa3              0.175                       0.575                  0.000
      5            BB+/Ba1 or lower          0.250                       0.875                  0.125
</TABLE>

      "Debt Rating" means, as of any date of determination, the rating as
determined by either S&P or Moody's of the Borrower's non-credit-enhanced,
senior unsecured long-term debt (collectively, the "Debt Ratings"); provided
that if a Debt Rating is issued by each of the foregoing rating agencies, then
the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing
Level 1 being the highest and the Debt Rating for Pricing Level 5 being the
lowest),

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unless there is a split in Debt Ratings of more than one level, in which case
the Pricing Level that is one level lower than the Pricing Level of the higher
Debt Rating shall apply. If the Borrower has no Debt Rating from either S&P or
Moody's at the time (and provided that, at such time, S&P or Moody's (x) exist
and (y) continue to issue Debt Ratings in the ordinary course of business), the
Applicable Rate shall be deemed to be in Pricing Level 5.

      Initially, the Applicable Rate shall be determined based upon the Debt
Rating specified in the certificate delivered pursuant to Section 4.01(a)(ix).
Thereafter, each change in the Applicable Rate resulting from a publicly
announced change in the Debt Rating shall be effective, in the case of an
upgrade, on the date of such public announcement and ending on the date
immediately preceding the effective date of the next such change and, in the
case of a downgrade, during the period commencing on the date of the public
announcement thereof and ending on the date immediately preceding the effective
date of the next such change.

      "Approved Fund" has the meaning specified in Section 10.07(g).

      "Arranger" means Banc of America Securities LLC, in its capacity as sole
and exclusive lead arranger and sole and exclusive book manager.

      "Assignee Group" means two or more Eligible Assignees that are Affiliates
of one another or two or more Approved Funds managed by the same investment
advisor.

      "Assignment and Assumption" means an Assignment and Assumption
substantially in the form of Exhibit D.

      "Attorney Costs" means and includes all fees, expenses and disbursements
of any Law firm or other external counsel.

      "Attributable Indebtedness" means, on any date, (a) in respect of any
Capital Lease of any Person, the capitalized amount thereof that would appear on
a balance sheet of such Person prepared as of such date in accordance with GAAP,
and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of
the remaining lease payments under the relevant lease that would appear on a
balance sheet of such Person prepared as of such date in accordance with GAAP if
such lease were accounted for as a capital lease.

      "Audited Financial Statements" means the audited consolidated balance
sheet of the Borrower and its Subsidiaries for the fiscal year ended August 31,
2004, and the related consolidated statements of income or operations,
shareholders' equity and cash flows for such fiscal year of the Borrower and its
Subsidiaries, including the notes thereto.

      "Auditors" means a Registered Public Accounting Firm acceptable to the
Administrative Agent and the Required Lenders.

      "Auto-Renewal Letter of Credit" has the meaning specified in Section
2.03(b)(iii).

      "Availability Period" means the period from and including the Closing Date
to the Maturity Date.

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      "Bank of America" means Bank of America, N.A. and its successors.

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

      "Base Rate Loan" means a Revolving Loan that bears interest based on the
Base Rate.

      "Borrower" has the meaning specified in the introductory paragraph hereto.

      "Borrower Materials" has the meaning specified in Section 6.02.

      "Borrowing" means a Revolving Borrowing or a Swing Line Borrowing, as the
context may require.

      "Business Day" means any day other than a Saturday, Sunday or other day on
which commercial banks are authorized to close under the Laws of, or are in fact
closed in, the state where the Administrative Agent's Office is located and, if
such day relates to any Eurodollar Rate Loan or Swing Line Loan, means any such
day on which dealings in Dollar deposits are conducted by and between banks in
the London interbank eurodollar market.

      "Capital Lease" means, as of any date, any lease of property, real or
personal, the obligations of the lessee in respect of which are required in
accordance with GAAP to be capitalized on the balance sheet of the lessee.

      "Capital Stock" means, as to any Person, the equity interests in such
Person, including, without limitation, the shares of each class of capital stock
in any Person that is a corporation, each class of partnership interest in any
Person that is a partnership, and each class of membership interest in any
Person that is a limited liability company, and any warrants or options to
purchase or otherwise acquire any such equity interests.

      "Capitalized Rentals" means, for any Person and as of any date of any
determination, the amount at which the aggregate Rentals due and to become due
under all Capital Leases under which such Person is a lessee would be reflected
as a liability on a consolidated balance sheet of such Person.

      "Cash and Cash Equivalents" means (a) cash, (b) marketable obligations
issued or unconditionally guaranteed by the U.S. Government or issued by any of
its agencies and backed by the full faith and credit of the U.S., in each case
maturing within one year from the date of acquisition (and investments in mutual
funds investing primarily in those obligations); (c) short-term investment grade
domestic and eurodollar certificates of deposit or time deposits that are fully
insured by the Federal Deposit Insurance Corporation or are issued by commercial
banks having combined capital, surplus, and undivided profits of not less than
$100,000,000 (as shown

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on its most recently published statement of condition); (d) commercial paper and
similar obligations rated "P-1" or "P-2" by Moody's; or "A-1" or "A-2" by S&P;
(e) readily marketable tax-free municipal bonds of a domestic issuer rated "Aaa"
by Moody's, or "AAA" by S&P, and maturing within one year from the date of
issuance (and investments in mutual funds investing primarily in those bonds);
and (f) demand deposit accounts maintained in the ordinary course of business.

      "Cash Collateralize" has the meaning specified in Section 2.03(g).

      "Change of Control" means, with respect to any Person, an event or series
of events by which:

      (a) any "person" or "group" (as such terms are used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit
plan of such person or its subsidiaries, and any person or entity acting in its
capacity as trustee, agent or other fiduciary or administrator of any such plan)
becomes the "beneficial owner" (as defined in Rules 13d-3 and 13d-5 under the
Securities Exchange Act of 1934, except that a person or group shall be deemed
to have "beneficial ownership" of all securities that such person or group has
the right to acquire (such right, an "option right"), whether such right is
exercisable immediately or only after the passage of time), directly or
indirectly, of 50% or more of the Voting Shares of such Person; or

      (b) during any period of 12 consecutive calendar months, a majority of the
members of the board of directors or other equivalent governing body of such
Person cease to be composed of individuals (i) who were members of that board or
equivalent governing body on the first day of such period, (ii) whose election
or nomination to that board or equivalent governing body was approved by
individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of that board or equivalent governing
body or (iii) whose election or nomination to that board or other equivalent
governing body was approved by individuals referred to in clauses (i) and (ii)
above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body (excluding, in the case of
both clause (ii) and clause (iii), any individual whose initial nomination for,
or assumption of office as, a member of that board or equivalent governing body
occurs as a result of an actual or threatened solicitation of proxies or
consents for the election or removal of one or more directors by any person or
group other than a solicitation for the election of one or more directors by or
on behalf of the board of directors).

      "Closing Date" means the first date all the conditions precedent in
Section 4.01 are satisfied or waived in accordance with Section 4.01 (or, in the
case of Section 4.01(b), waived by the Person entitled to receive the applicable
payment).

      "Code" means the Internal Revenue Code of 1986.

      "Commitment" means, as to each Lender, its obligation to (a) make
Revolving Loans to the Borrower pursuant to Section 2.01, and (b) purchase
participations in L/C Obligations pursuant to Section 2.03 and (c) purchase
participations in Swing Line Loans pursuant to Section 2.04, in an aggregate
principal amount at any one time outstanding not to exceed the amount set forth
opposite such Lender's name on Schedule 2.01 or in the Assignment and

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Assumption pursuant to which such Lender becomes a party hereto, as applicable,
as such amount may be adjusted from time to time in accordance with this
Agreement.

      "Compensation Period" has the meaning specified in Section 2.12(c)(ii).

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

      "Consolidated EBITDA" means Consolidated Net Income plus (a) interest
expense, (b) income taxes, and (c) depreciation and amortization expense, in
each case of the Borrower and its Subsidiaries and computed on a consolidated
basis and in accordance with GAAP.

      "Consolidated Funded Debt" means all Funded Debt of the Borrower and its
consolidated Subsidiaries, determined on a consolidated basis and eliminating
intercompany items.

      "Consolidated Interest Expense" means interest expense of the Borrower and
its consolidated Subsidiaries, computed on a consolidated basis and in
accordance with GAAP.

      "Consolidated Net Income" means, for any period, for the Borrower and its
consolidated Subsidiaries computed on a consolidated basis in accordance with
GAAP, the net income of the Borrower and its Subsidiaries (but excluding the
effect of any extraordinary or other non-recurring gain or loss outside the
ordinary course of business) for that period.

      "Consolidated Net Tangible Assets" means the net book value of all assets
of the Borrower and its consolidated Subsidiaries, excluding any amounts carried
as assets for shares of capital stock held in treasury, debt discount and
expense, goodwill, patents, trademarks and other intangible assets, less all
liabilities of the Borrower and its consolidated Subsidiaries (except Funded
Debt, minority interests in consolidated Subsidiaries, deferred taxes and
general contingency reserves of the Borrower and its consolidated Subsidiaries),
which in each case would be included on a consolidated balance sheet of the
Borrower and its consolidated Subsidiaries as of the date of determination, all
as determined on a consolidated basis in accordance with GAAP.

      "Consolidated Tangible Assets" means the net book value of all assets of
the Borrower and its consolidated Subsidiaries, excluding any amounts carried as
assets for shares of capital stock held in treasury, debt discount and expense,
goodwill, patents, trademarks and other intangible assets, which would be
included on a consolidated balance sheet of the Borrower and its consolidated
Subsidiaries as of the date of determination, all as determined on a
consolidated basis in accordance with GAAP.

      "Consolidated Tangible Net Worth" means the total shareholders' equity of
the Borrower and its consolidated Subsidiaries, calculated in accordance with
GAAP and reflected on the most recent balance sheet of the Borrower, minus
Intangible Assets.

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

      "Control" has the meaning specified in the definition of "Affiliate."

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<PAGE>

      "Credit Extension" means each of the following: (a) a Revolving Borrowing
and (b) an L/C Credit Extension.

      "Daily Floating LIBOR Rate" means, for any day, a fluctuating rate per
annum equal to BBA LIBOR, as published by Reuters (or other commercially
available source providing quotations of BBA LIBOR as designated by the
Administrative Agent from time to time) at approximately 11:00 a.m., London
time, on such day for Dollar deposits with a term equivalent to one (1) month.
If such rate is not available at such time for any reason, then the Daily
Floating LIBOR Rate shall be the rate per annum determined by the Administrative
Agent to be the rate at which deposits in dollars in same day funds in the
approximate amount of the Swing Line Loan being made by the Swing Line Lender
and with a term equivalent to one (1) month would be offered by the Swing Line
Lender's London Branch to major banks in the London interbank eurodollar market
at their request at approximately 11:00 a.m. (London time) on such day.
Notwithstanding the foregoing, the Daily Floating LIBOR Rate on any day that is
not a Business Day shall be the Daily Floating LIBOR Rate determined on the
immediately preceding Business Day. Each change in the Daily Floating LIBOR Rate
shall be effective, without notice to the Borrower or any other Person, upon the
effective date of such change.

      "Debt Rating" has the meaning specified in the definition of "Applicable
Rate."

      "Debt to Capitalization Ratio" means, as of any date of determination, for
the Borrower and its Subsidiaries on a consolidated basis, the ratio of (a)
Consolidated Funded Debt as of such date to (b) Total Capitalization as of such
date.

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

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

      "Default Rate" means (a) when used with respect to Obligations other than
Letter of Credit Fees, a per annum interest rate equal to the lesser of (i) the
Highest Lawful Rate and (ii) the sum of the Base Rate (plus any Applicable Rate)
plus two percent; provided, however, that with respect to a (x) Eurodollar Rate
Loan, the Default Rate shall be a per annum interest rate equal to the lesser of
(A) the Highest Lawful Rate and (B) the interest rate (including any Applicable
Rate) otherwise applicable to such Loan plus two percent and (y) Swing Line
Loan, the Default Rate shall be a per annum interest rate equal to the lesser of
(A) the Highest Lawful rate and (B) the interest rate (including any Applicable
Rate) otherwise applicable to such Loan plus two percent and (b) when used with
respect to Letter of Credit Fees, an interest rate per annum equal to the
Applicable Rate plus two percent.

      "Defaulting Lender" means any Lender that (a) has failed to fund any
portion of the Revolving Loans, participations in L/C Obligations or
participations in Swing Line Loans required to be funded by it hereunder within
one Business Day of the date required to be funded

                                        7
<PAGE>

by it hereunder, (b) has otherwise failed to pay over to the Administrative
Agent or any other Lender any other amount required to be paid by it hereunder
within one Business Day of the date when due, unless the subject of a good faith
dispute, or (c) has been deemed insolvent or become the subject of a bankruptcy
or insolvency proceeding.

      "Disposition" or "Dispose" means the sale, transfer, license, lease or
other disposition (including any sale and leaseback transaction) of any property
by any Person, including any sale, assignment, transfer or other disposal, with
or without recourse, of any notes or accounts receivable or any rights and
claims associated therewith, including any securitization, transfer or
encumbrance of any accounts receivable.

      "Dividends," in respect of any Person, means cash dividends or any other
distributions of property, or otherwise, on, or in respect of, any class of
Capital Stock of such Person (other than dividends or other distributions
payable solely in common stock of such Person or options, warrants or other
rights to purchase common stock of such Person).

      "Dollar" and "$" mean lawful money of the United States.

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

      "Environmental Laws" means any and all federal, state, local, and foreign
statutes, Laws, regulations, ordinances, rules, judgments, orders, decrees,
permits, concessions, grants, franchises, licenses, agreements or governmental
restrictions relating to pollution and the protection of the environment or the
release of any materials into the environment, including those related to
hazardous substances or wastes, air emissions and discharges to waste or public
systems.

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

      "ERISA" means the Employee Retirement Income Security Act of 1974.

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

      "ERISA Event" means (a) a Reportable Event with respect to a Pension Plan;
(b) a withdrawal by the Borrower or any ERISA Affiliate from a Pension Plan
subject to Section 4063 of ERISA during a plan year in which it was a
substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation
of operations that is treated as such a withdrawal under Section 4062(e) of
ERISA; (c) a complete or partial withdrawal by the Borrower or any

                                        8
<PAGE>

ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer
Plan is in reorganization; (d) the filing of a notice of intent to terminate,
the treatment of a Plan amendment as a termination under Sections 4041 or 4041A
of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension
Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds
under Section 4042 of ERISA for the termination of, or the appointment of a
trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the
imposition of any liability under Title IV of ERISA, other than for PBGC
premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower
or any ERISA Affiliate.

      "Eurocurrency Liabilities" has the meaning specified in Section 3.04(c).

      "Eurodollar Rate" means for any Interest Period with respect to any
Eurodollar Rate Loan, the rate per annum equal to the British Bankers
Association LIBOR Rate ("BBA LIBOR"), as published by Reuters (or other
commercially available source providing quotations of BBA LIBOR as designated by
the Administrative Agent from time to time) at approximately 11:00 a.m., London
time, two Business Days prior to the commencement of such Interest Period, for
Dollar deposits (for delivery on the first day of such Interest Period) with a
term equivalent to such Interest Period. If such rate is not available at such
time for any reason, then the "Eurodollar Rate" for such Interest Period shall
be the rate per annum determined by the Administrative Agent to be the rate at
which deposits in Dollars for delivery on the first day of such Interest Period
in same day funds in the approximate amount of the Eurodollar Rate Loan being
made, continued or converted by Bank of America and with a term equivalent to
such Interest Period would be offered by Bank of America's London Branch to
major banks in the London interbank eurodollar market at their request at
approximately 11:00 a.m. (London time) two Business Days prior to the
commencement of such Interest Period.

      "Eurodollar Rate Loan" means a Revolving Loan that bears interest at a
rate based on the Eurodollar Rate.

      "Event of Default" has the meaning specified in Section 8.01.

      "Exchange Act" means the Securities Exchange Act of 1934.

      "Existing Credit Agreement" has the meaning set forth in the Background
provision of this Agreement.

      "Existing Letters of Credit" means those Letters of Credit set forth on
Schedule 1.01 hereof.

      "Facility Fee" has the meaning specified in Section 2.09(a).

      "Federal Funds Rate" means, for any day, the rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers on such
day, as published by the Federal Reserve Bank on the Business Day next
succeeding such day; provided that (a) if such day is not a Business Day, the
Federal Funds Rate for such day shall be such rate on such transactions on the
next preceding Business Day as so published on the next succeeding Business Day,
and (b) if no such rate is so published on such next succeeding Business Day,
the Federal Funds Rate for

                                        9
<PAGE>

such day shall be the average rate (rounded upward, if necessary, to a whole
multiple of 1/100 of 1%) charged to Bank of America on such day on such
transactions as determined by the Administrative Agent.

      "Fee Letter" means the letter agreement, dated as of March 22, 2005, among
the Borrower, the Administrative Agent and the Arranger.

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

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

      "Fund" has the meaning specified in Section 10.07(g).

      "Funded Debt" of any Person means, as of the date of determination and
without duplication (a) all Indebtedness of such Person for borrowed money or
which has been incurred in connection with the acquisition of plant, property
and equipment, (b) all Capitalized Rentals of such Person, and (c) all
Guaranties by such Person of Funded Debt of others; provided, however, at such
time, if any, that Receivables Facility Attributed Indebtedness of such Person
is classified as Indebtedness for borrowed money to be disclosed on a financial
statement of such Person pursuant to GAAP, such amount of Receivables Facility
Attributed Indebtedness shall, without duplication, be included as Funded Debt
of such Person.

      "GAAP" means generally accepted accounting principles in the United States
set forth in the opinions and pronouncements of the Accounting Principles Board
and the American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or such other
principles as may be approved by a significant segment of the accounting
profession in the United States, that are applicable to the circumstances as of
the date of determination, consistently applied.

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

      "Guarantee" means, as to any Person, (a) any obligation, contingent or
otherwise, of such Person guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation payable or performable by
another Person (the "primary obligor") in any manner, whether directly or
indirectly, and including any obligation of such Person, direct or indirect, (i)
to purchase or pay (or advance or supply funds for the purchase or payment of)
such Indebtedness or other obligation, (ii) to purchase or lease property,
securities or services for the purpose of assuring the obligee in respect of
such Indebtedness or other obligation of the payment or performance of such
Indebtedness or other obligation, (iii) to maintain working capital, equity
capital or any other financial statement condition or liquidity or level of
income or cash flow of the primary obligor so as to enable the primary obligor
to pay such Indebtedness or other obligation, or (iv) entered into for the
purpose of assuring in any other manner the obligee in respect of such
Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or
(b) any Lien on any

                                       10
<PAGE>

assets of such Person securing any Indebtedness or other obligation of any other
Person, whether or not such Indebtedness or other obligation is assumed by such
Person. The amount of any Guarantee shall be deemed to be an amount equal to the
stated or determinable amount of the related primary obligation, or portion
thereof, in respect of which such Guarantee is made or, if not stated or
determinable, the maximum reasonably anticipated liability in respect thereof as
determined by the guaranteeing Person in good faith. The term "Guarantee" as a
verb has a corresponding meaning.

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

      "Highest Lawful Rate" means at the particular time in question the maximum
rate of interest which, under Applicable Law, any Lender is then permitted to
charge on the Obligations. If the maximum rate of interest which, under
Applicable Law, any Lender is permitted to charge on the Obligations shall
change after the date hereof, the Highest Lawful Rate shall be automatically
increased or decreased, as the case may be, from time to time as of the
effective time of each change in the Highest Lawful Rate without notice to the
Borrower. For purposes of determining the Highest Lawful Rate under Applicable
Law, on each day, if any, that Chapter 303 of the Texas Finance Code, as
amended, establishes the Highest Lawful Rate, such rate shall be the weekly
ceiling computed in accordance with Section 303.003 of the Texas Finance Code,
as amended, for that day.

      "Increase Effective Date" has the meaning specified in Section 2.14(d).

      "Indebtedness" means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or
liabilities in accordance with GAAP:

      (a) all obligations of such Person for borrowed money and all obligations
of such Person evidenced by bonds, debentures, notes, loan agreements or other
similar instruments;

      (b) all direct or contingent obligations of such Person arising under
letters of credit (including standby and commercial), bankers' acceptances, bank
guaranties, surety bonds and similar instruments;

      (c) net obligations of such Person under any Swap Contract;

      (d) all obligations of such Person to pay the deferred purchase price of
property or services (other than trade accounts payable in the ordinary course
of business);

      (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on
property owned or being purchased by such Person (including indebtedness arising
under conditional sales or other title retention agreements), whether or not
such indebtedness shall have been assumed by such Person or is limited in
recourse;

      (f) Capital Leases and Synthetic Lease Obligations;

                                       11
<PAGE>

      (g) obligations in respect of Redeemable Stock of such Person;

      (h) Receivables Facility Attributed Indebtedness; and

      (i) all Guarantees of such Person in respect of any of the foregoing.

For all purposes hereof, the Indebtedness of any Person shall include the
Indebtedness of any partnership or joint venture (other than a joint venture
that is itself a corporation or limited liability company or similar limited
liability entity) in which such Person is a general partner or a joint venturer
and for whose Indebtedness such Person is directly or indirectly liable, unless
such Indebtedness is expressly made non-recourse to such Person. The amount of
any net obligation under any Swap Contract on any date shall be deemed to be the
Swap Termination Value thereof as of such date. The amount of any Capital Lease
or Synthetic Lease Obligation as of any date shall be deemed to be the amount of
Attributable Indebtedness in respect thereof as of such date.

      "Indemnified Liabilities" has the meaning specified in Section 10.05.

      "Indemnitees" has the meaning specified in Section 10.05.

      "Intangible Assets" means as of the date of any determination thereof the
total amount of all goodwill, patents, trade names, trade marks, copyrights,
franchises, experimental expense, organizational expense, unamortized debt
discount and expense, deferred assets (other than prepaid insurance, prepaid
taxes, and supplies, spare parts, and other Tangible Assets which are treated as
deferred assets on the books of the Borrower), the excess of cost of shares
acquired over book value of related assets , and such other assets of the
Borrower and its consolidated Subsidiaries as are properly classified as
"Intangible Assets" in accordance with GAAP.

      "Interest Coverage Ratio" means, as of the end of each fiscal quarter, the
ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each
case for the then-most recently concluded period of four consecutive fiscal
quarters.

      "Interest Payment Date" means, (a) as to any Revolving Loan other than a
Base Rate Loan, the last day of each Interest Period applicable to such
Revolving Loan and the Maturity Date; provided, however, that if any Interest
Period for a Eurodollar Rate Loan exceeds three months, the respective dates
that fall every three months after the beginning of such Interest Period shall
also be Interest Payment Dates; (b) as to any Base Rate Loan, the last Business
Day of each March, June, September and December and the Maturity Date; and (c)
as to any Swing Line Loan, the last Business Day of each March, June, September
and December and the Maturity Date.

      "Interest Period" means, as to each Eurodollar Rate Loan, the period
commencing on the date such Eurodollar Rate Loan is disbursed or converted to or
continued as a Eurodollar Rate Loan and ending on the date one, two, three or
six months thereafter, as selected by the Borrower in its Revolving Loan Notice;
provided that:

            (i) any Interest Period that would otherwise end on a day that is
      not a Business Day shall be extended to the next succeeding Business Day
      unless such

                                       12
<PAGE>

      Business Day falls in another calendar month, in which case such Interest
      Period shall end on the next preceding Business Day;

            (ii) any Interest Period that begins on the last Business Day of a
      calendar month (or on a day for which there is no numerically
      corresponding day in the calendar month at the end of such Interest
      Period) shall end on the last Business Day of the calendar month at the
      end of such Interest Period; and

            (iii) no Interest Period shall extend beyond the Maturity Date.

      "Internal Control Event" means a material weakness in, or fraud that
involves management or other employees who have a significant role in the
Borrower's "disclosure controls and procedures" or "internal controls over
financial reporting", in each case as described in Rule 13a-15 or Rule 15d-15
promulgated under the Exchange Act.

      "IRS" means the United States Internal Revenue Service.

      "ISP" means, with respect to any Letter of Credit, the "International
Standby Practices 1998" published by the Institute of International Banking Law
& Practice (or such later version thereof as may be in effect at time of
issuance).

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

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

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

      "L/C Issuer" means Bank of America, Wells Fargo HSBC Trade Bank and up to
four (4) additional Lenders approved by the Borrower and Administrative Agent
(such approval not to be unreasonably withheld or delayed), provided that no
Lender may be required to be an L/C Issuer without such Lender's consent in such
Lender's sole discretion, in their respective capacities as issuers of Letters
of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

      "L/C Obligations" means, as at any date of determination, the aggregate
undrawn amount of all outstanding Letters of Credit plus the aggregate of all
Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing
the amount available to be drawn under any Letter of Credit, the amount of such
Letter of Credit shall be determined in accordance with Section 1.07. For all
purposes of this Agreement, if on any date of determination a Letter of Credit
has expired by its terms but any amount may still be drawn thereunder by reason
of the operation of Rule 3.14 of the ISP, such Letter of Credit will be deemed
to be "outstanding" in the amount so remaining available to be drawn.

      "Laws" means, collectively, all international, foreign, Federal, state and
local statutes, treaties, rules, guidelines, regulations, ordinances, codes and
administrative or judicial

                                       13
<PAGE>

precedents or authorities, including the interpretation or administration
thereof by any Governmental Authority charged with the enforcement,
interpretation or administration thereof, and all applicable administrative
orders, directed duties, requests, licenses, authorizations and permits of, and
agreements with, any Governmental Authority, in each case whether or not having
the force of Law.

      "Lender" has the meaning specified in the introductory paragraph hereto
and, as the context requires, includes each L/C Issuer and the Swing Line
Lender.

      "Lending Office" means, as to any Lender, the office or offices of such
Lender described as such in such Lender's Administrative Questionnaire, or such
other office or offices as a Lender may from time to time notify the Borrower
and the Administrative Agent.

      "Letter of Credit" means any letter of credit issued hereunder and shall
include the Existing Letters of Credit. A Letter of Credit may be a commercial
letter of credit or a standby letter of credit.

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

      "Letter of Credit Expiration Date" means the day that is seven days prior
to the Maturity Date (or, if such day is not a Business Day, the next preceding
Business Day).

      "Letter of Credit Fee" has the meaning specified in Section 2.03(i).

      "Letter of Credit Sublimit" means an amount equal to $150,000,000. The
Letter of Credit Sublimit is part of, and not in addition to, the Aggregate
Commitments.

      "License" means any license, certificate of authority, permit, franchise
or other authorization which is required to be obtained from any Governmental
Authority in connection with the operation, ownership or transaction of
insurance business.

      "Lien" means any mortgage, pledge, hypothecation, assignment, deposit
arrangement, encumbrance, lien (statutory or other), charge, or preference,
priority or other security interest or preferential arrangement of any kind or
nature whatsoever (including any conditional sale or other title retention
agreement, and any financing lease having substantially the same economic effect
as any of the foregoing).

      "Loan" means an extension of credit by a Lender to the Borrower under
Article II in the form of a Revolving Loan or a Swing Line Loan.

      "Loan Documents" means this Agreement, each Revolving Loan Note, the Swing
Line Note, the Fee Letter, and all other documents executed and delivered by the
Borrower to the Administrative Agent or any Lender in connection herewith.

      "Material Adverse Effect" means (a) a material adverse change in, or a
material adverse effect upon, the operations, business, properties, liabilities
(actual or contingent) or financial condition of the Borrower or the Borrower
and its Subsidiaries taken as a whole or as to any

                                       14
<PAGE>

Material Subsidiary; (b) a material impairment of the ability of the Borrower or
any Material Subsidiary to perform under any Loan Document; or (c) a material
adverse effect upon the legality, validity, binding effect or enforceability
against the Borrower of any Loan Document.

      "Material Domestic Subsidiary" means any Material Subsidiary organized
under the laws of the United States, any State of the United States or the
District of Columbia.

      "Material Property" means any facility (together with the land on which it
is erected and fixtures comprising a part thereof) used primarily for
manufacturing, processing, research, warehousing or distribution, owned or
leased by the Borrower or a Subsidiary of the Borrower and (a) having a net book
value in excess of 3% of Consolidated Net Tangible Assets, other than any such
facility or portion thereof which is a pollution control facility financed by
state or local government obligations or is not of material importance to the
total business conducted or assets owned by the Borrower and its Subsidiaries as
an entirety, or (b) acquired with Net Proceeds from a sale and leaseback
transaction and which is irrevocably designated by the Borrower as a Material
Property, which designation shall be made in writing to the Administrative
Agent.

      "Material Subsidiary" means any Subsidiary of the Borrower that owns or
leases a Material Property or owns or controls Capital Stock which under
ordinary circumstances has the voting power to elect a majority of the Board of
Directors (or similar governing body) of a Material Subsidiary.

      "Maturity Date" means the earliest of (a) May 23, 2010 or (b) the date of
termination of the Aggregate Commitments pursuant to Section 2.06, and (c) the
date of termination of the commitment of each Lender to make Loans and of the
obligation of any L/C Issuer to make L/C Credit Extensions pursuant to Section
8.02.

      "Moody's" means Moody's Investors Service, Inc. and any successor thereto.

      "Multiemployer Plan" means any employee benefit plan of the type described
in Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate
makes or is obligated to make contributions, or during the preceding five plan
years, has made or been obligated to make contributions.

      "Net Proceeds" means the aggregate cash proceeds received by any Person in
respect of a sale or other disposition of property by such Person (including,
without limitation, any cash received upon the sale or other disposition of any
non-cash consideration received in any such disposition), net of direct costs
relating to such disposition, including, without limitation, legal, accounting
and investment banking fees, and sales commissions as a result thereof, taxes
paid or payable as a result thereof, in each case, after taking into account any
available tax credits or deductions or tax sharing arrangements with respect to
such disposition, and amounts required to be applied to the repayment of
Indebtedness or other liabilities, secured by a Lien on the property or
properties that were the subject of such disposition, or required to be paid as
a result of such disposition, and any reserve for adjustment in respect of the
sale price of such property or properties established in accordance with GAAP.

      "New Commitments" has the meaning specified in Section 2.14(a).

                                       15
<PAGE>

      "Nonrenewal Notice Date" has the meaning specified in Section
2.03(b)(iii).

      "Notes" means the Revolving Loan Notes and the Swing Line Notes,
collectively (and each, a "Note").

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

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

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

      "Outstanding Amount" means (i) with respect to Revolving Loans and Swing
Line Loans on any date, the aggregate outstanding principal amount thereof after
giving effect to any Borrowings and prepayments or repayments of Revolving Loans
and Swing Line Loans, as the case may be, occurring on such date; and (ii) with
respect to any L/C Obligations on any date, the amount of such L/C Obligations
on such date after giving effect to any L/C Credit Extension occurring on such
date and any other changes in the aggregate amount of the L/C Obligations as of
such date, including as a result of any reimbursements by the Borrower of
Unreimbursed Amounts.

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

      "PBGC" means the Pension Benefit Guaranty Corporation.

      "PCAOB" means the Public Company Accounting Oversight Board.

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

                                       16
<PAGE>

      "Permitted Liens" has the meaning specified in Section 7.01.

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

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

      "Platform" has the meaning specified in Section 6.02.

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

      "Public Lender" has the meaning specified in Section 6.02.

      "Receivables Facility Attributed Indebtedness" means the amount of
obligations outstanding under a receivables purchase facility on any date of
determination that would be characterized as principal if such facility were
structured as a secured lending transaction rather than as a purchase
transaction.

      "Redeemable Stock" means any Capital Stock of the Borrower or any of its
Subsidiaries which prior to June 20, 2010 is or may be (a) mandatorily
redeemable, (b) redeemable at the option of the holder thereof or (c)
convertible into Indebtedness.

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

      "Registered Public Accounting Firm" means an accounting firm that (a) has
registered with the PCAOB pursuant to the provisions of Section 102 of
Sarbanes-Oxley and whose registration has not been withdrawn, terminated,
revoked or suspended and (b) meets the "independence" requirements of Section
10A of the Exchange Act.

      "Related Parties" means, with respect to any Person, such Person's
Affiliates and the partners, directors, officers, employees, agents and advisors
of such Person and such Person's Affiliates.

      "Rentals" means and includes as of the date of any determination thereof
all fixed payments (including as such all payments which the lessee is obligated
to make to the lessor on termination of the lease or surrender of the property)
payable by the Borrower or a Material Subsidiary, as lessee or sublessee under a
lease of real or personal property, but shall be

                                       17
<PAGE>

exclusive of any amounts required to be paid by the Borrower or a Material
Subsidiary (whether or not designated as rents or additional rents) on account
of maintenance, repairs, insurance, taxes and similar charges. Fixed rents under
any so-called "percentage leases" shall be computed solely on the basis of the
minimum rents, if any, required to be paid by the lessee regardless of sales
volume or gross revenues.

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

      "Request for Credit Extension" means (a) with respect to a Revolving
Borrowing, conversion or continuation of Revolving Loans, a Revolving Loan
Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit
Application, and with respect to a Swing Line Loan, a Swing Line Loan Notice.

      "Required Lenders" means, as of any date of determination, Lenders having
more than 50% of the Aggregate Commitments or, if the commitment of each Lender
to make Loans and the obligation of any L/C Issuer to make L/C Credit Extensions
have been terminated pursuant to Section 8.02, Lenders holding in the aggregate
more than 50% of the Total Outstandings (with the aggregate amount of each
Lender's risk participation and funded participation in L/C Obligations and
Swing line Loans being deemed "held" by such Lender for purposes of this
definition); provided that the Commitment of, and the portion of the Total
Outstandings held or deemed held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Required Lenders.

      "Responsible Officer" means the chief executive officer, chief operating
officer, president, chief financial officer, treasurer, controller, secretary or
assistant secretary of the Borrower which shall be designated in writing by name
and title by the Borrower. Any document delivered hereunder that is signed by a
Responsible Officer of the Borrower shall be conclusively presumed to have been
authorized by all necessary corporate action on the part of the Borrower and
such Responsible Officer shall be conclusively presumed to have acted on behalf
of the Borrower.

      "Revolving Borrowing" means a borrowing consisting of simultaneous
Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans,
having the same Interest Period made by each of the Lenders pursuant to Section
2.01.

      "Revolving Loan" has the meaning specified in Section 2.01.

      "Revolving Loan Note" means a promissory note made by the Borrower in
favor of a Lender evidencing Revolving Loans made by such Lender, substantially
in the form of Exhibit B.

      "Revolving Loan Notice" means a notice of (a) a Revolving Borrowing, (b) a
conversion of Revolving Loans from one Type to the other, or (c) a continuation
of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing,
shall be substantially in the form of Exhibit A.

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

                                       18
<PAGE>

      "Sarbanes-Oxley" means the Sarbanes-Oxley Act of 2002.

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

      "Securities Act" means the Securities Act of 1933.

      "Securities Laws" means the Securities Act, the Exchange Act,
Sarbanes-Oxley and the applicable accounting and auditing principles, rules,
standards and practices promulgated, approved or incorporated by the SEC or the
PCAOB.

      "Securitizing Subsidiaries" means, collectively, CMC Steel Fabricators,
Inc., d/b/a SMI Joist Co. (Hope, AR), Howell Metals Company, Owen Electric Steel
Company of South Carolina, SMI Steel, Inc., and Structural Metals, Inc.

      "Solvent" means, with respect to any Person, as of any date of
determination, that the fair value of the assets of such Person (at fair
valuation) is, on the date of determination, greater than the total amount of
liabilities (including contingent and unliquidated liabilities) of such Person
as of such date, that the present fair saleable value of the assets of such
Person will, as of such date, be greater than the amount that will be required
to pay the probable liability of such Person on its debts as such debts become
absolute and matured, and that, as of such date, such Person will be able to pay
all liabilities of such Person as such liabilities mature and such Person does
not have unreasonably small capital with which to carry on its business. In
computing the amount of contingent or unliquidated liabilities at any time, such
liabilities will be computed at the amount which, in light of all the facts and
circumstances existing at such time, represents the amount that can reasonably
be expected to become an actual or matured liability discounted to present value
at rates believed to be reasonable by such Person.

      "Stock Redemptions", in respect of any Person, means any and all funds,
cash or other payments made in respect of the redemption, repurchase or
acquisition of such Capital Stock (specifically including, without limitation, a
treasury stock purchase), unless such Capital Stock shall be redeemed or
acquired through the exchange of such Capital Stock with Capital Stock of the
same class or options or warrants to purchase such Capital Stock.

      "Subsidiary" of a Person means a corporation, partnership, joint venture,
limited liability company or other business entity of which a majority of the
Voting Shares are at the time beneficially owned, or the management of which is
otherwise controlled, directly, or indirectly through one or more
intermediaries, or both, by such Person. Unless otherwise specified, all
references herein to a "Subsidiary" or to "Subsidiaries" shall refer to a
Subsidiary or Subsidiaries of the Borrower.

      "Swap Contract" means (a) any and all rate swap transactions, basis swaps,
credit derivative transactions, forward rate transactions, commodity swaps,
commodity options, forward commodity contracts, equity or equity index swaps or
options, bond or bond price or bond index swaps or options or forward bond or
forward bond price or forward bond index transactions, interest rate options,
forward foreign exchange transactions, cap transactions, floor transactions,
collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, or any other similar
transactions or any

                                       19
<PAGE>

combination of any of the foregoing (including any options to enter into any of
the foregoing), whether or not any such transaction is governed by or subject to
any master agreement, and (b) any and all transactions of any kind, and the
related confirmations, which are subject to the terms and conditions of, or
governed by, any form of master agreement published by the International Swaps
and Derivatives Association, Inc., any International Foreign Exchange Master
Agreement, or any other master agreement (any such master agreement, together
with any related schedules, a "Master Agreement"), including any such
obligations or liabilities under any Master Agreement.

      "Swap Termination Value" means, in respect of any one or more Swap
Contracts, after (a) taking into account the effect of any legally enforceable
netting agreement relating to such Swap Contracts and (b) giving effect to the
actual value of the underlying transactions to which such Swap Contracts relate,
for any date on or after the date such Swap Contracts have been closed out and
termination value(s) determined in accordance therewith, such termination
value(s).

      "Swing Line" mean the revolving credit facility made available by the
Swing Line Lender pursuant to Section 2.04.

      "Swing Line Borrowing" means a borrowing by the Borrower of a Swing Line
Loan pursuant to Section 2.04.

      "Swing Line Lender" means Bank of America in its capacity as provider of
Swing Line Loans, or any successor swing line lender hereunder.

      "Swing Line Loan" has the meaning specified in Section 2.04(a).

      "Swing Line Loan Notice" means a notice of a Swing Line Borrowing pursuant
to Section 2.04(b), which, if in writing, shall be substantially in the form of
Exhibit F.

      "Swing Line Note" means a promissory note made by the Borrower in favor of
the Swing Line Lender evidencing Swing Line Loans made by such Lender,
substantially in the form of Exhibit E.

      "Swing Line Sublimit" means an amount equal to the lesser of (a)
$35,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part
of, and not in addition to, the Aggregate Commitments.

      "Synthetic Lease Obligation" means the monetary obligation of a Person
under (a) a so-called synthetic, off-balance sheet or tax retention lease, or
(b) an agreement for the use or possession of property creating obligations that
do not appear on the balance sheet of such Person but which, upon the insolvency
or bankruptcy of such Person, would be characterized as the indebtedness of such
Person (without regard to accounting treatment).

      "Tangible Assets" means as of the date of any determination thereof the
total amount of all assets of the Borrower and its consolidated Subsidiaries
(less depreciation, depletion and other properly deductible valuation reserves)
after deducting Intangible Assets.

                                       20
<PAGE>

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

      "Total Capitalization" means, as of any date of determination, for the
Borrower and its Subsidiaries on a consolidated basis, the sum of (a)
Consolidated Tangible Net Worth as of such date and (b) Consolidated Funded Debt
as of such date.

      "Total Outstandings" means the aggregate Outstanding Amount of all Loans
and all L/C Obligations.

      "Trade Date" has the meaning specified in Section 10.07(b).

      "Type" means, with respect to a Revolving Loan, its character as a Base
Rate Loan or a Eurodollar Rate Loan.

      "UCC" means the Uniform Commercial Code of Texas or, where applicable to
specific collateral, any other relevant state.

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

      "United States" and "U.S." mean the United States of America.

      "Unreimbursed Amount" has the meaning specified in Section 2.03(c)(i).

      "Voting Shares" of any Person means any class or classes of Capital Stock
having ordinary voting power for the election of directors or other governing
body of such Person, other than Capital Stock having such power only by reason
of the happening of a contingency.

      1.02 OTHER INTERPRETIVE PROVISIONS. With reference to this Agreement and
each other Loan Document, unless otherwise specified herein or in such other
Loan Document:

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

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

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

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

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

                                       21
<PAGE>

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

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

      1.03 ACCOUNTING TERMS.

      (a) All accounting terms not specifically or completely defined herein
shall be construed in conformity with, and all financial data (including
financial ratios and other financial calculations) required to be submitted
pursuant to this Agreement shall be prepared in conformity with GAAP applied on
a consistent basis, as in effect from time to time, applied in a manner
consistent with that used in preparing the Audited Financial Statements, except
as otherwise specifically prescribed herein.

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

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

      1.05 REFERENCES TO AGREEMENTS AND LAWS. Unless otherwise expressly
provided herein, (a) references to Organization Documents, agreements (including
the Loan Documents) and other contractual instruments shall be deemed to include
all subsequent amendments, restatements, extensions, supplements and other
modifications thereto, but only to the extent that such amendments,
restatements, extensions, supplements and other modifications are not prohibited
by any Loan Document; and (b) references to any Law shall include all statutory
and regulatory provisions and rulings consolidating, amending, replacing,
supplementing or interpreting such Law, and any reference to any Law shall,
unless otherwise specified, refer to such Law as amended, modified or
supplemented from time to time.

                                       22
<PAGE>

      1.06 TIMES OF DAY. Unless otherwise specified, all references herein to
times of day shall be references to Central time (daylight or standard, as
applicable).

      1.07 LETTER OF CREDIT AMOUNTS. Unless otherwise specified herein, the
amount of a Letter of Credit at any time shall be deemed to be the stated amount
of such Letter of Credit in effect at such time; provided, however, that with
respect to any Letter of Credit that, by its terms or the terms of any Letter of
Credit Application related thereto, provides for one or more automatic increases
in the stated amount thereof, the amount of such Letter of Credit shall be
deemed to be the maximum stated amount of such Letter of Credit after giving
effect to all such increases, whether or not such maximum stated amount is in
effect at such time.

                                   ARTICLE II
                      THE COMMITMENTS AND CREDIT EXTENSIONS

      2.01 REVOLVING LOANS. Subject to the terms and conditions set forth
herein, each Lender severally agrees to make loans (each such loan, a "Revolving
Loan") to the Borrower from time to time, on any Business Day during the
Availability Period, in an aggregate amount not to exceed at any time
outstanding the amount of such Lender's Commitment; provided, however, that
after giving effect to any Revolving Borrowing, (i) the Total Outstandings shall
not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount
of the Revolving Loans of any Lender, plus such Lender's Pro Rata Share of the
Outstanding Amount of all L/C Obligations, plus such Lender's Pro Rata Share of
the Outstanding Amount of all Swing Line Loans, shall not exceed such Lender's
Commitment. Within the limits of each Lender's Commitment, and subject to the
other terms and conditions hereof, the Borrower may borrow under this Section
2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Revolving
Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided
herein.

      2.02 REVOLVING BORROWINGS, CONVERSIONS AND CONTINUATIONS OF REVOLVING
LOANS.

      (a) Each Revolving Borrowing, each conversion of Revolving Loans from one
Type to the other, and each continuation of Eurodollar Rate Loans shall be made
upon the Borrower's irrevocable notice to the Administrative Agent, which may be
given by telephone. Each such notice must be received by the Administrative
Agent not later than 11:00 a.m.

            (i) three Business Days prior to the requested date of any Revolving
      Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of
      any conversion of Eurodollar Rate Loans to Base Rate Loans, and

            (ii) one Business Day prior to the requested date of any Revolving
      Borrowing of Base Rate Loans.

Each telephonic notice by the Borrower pursuant to this Section 2.02(b) must be
confirmed promptly by delivery to the Administrative Agent of a written
Revolving Loan Notice, appropriately completed and signed by two Responsible
Officers of the Borrower. Each Revolving Borrowing of, conversion to or
continuation of Eurodollar Rate Loans shall be in a principal amount of
$5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as
provided in Section 2.03(c) and 2.04(c), each Revolving Borrowing of or
conversion to Base

                                       23
<PAGE>

Rate Loans shall be in a principal amount of $500,000 or a whole multiple of
$100,000 in excess thereof. Each Revolving Loan Notice (whether telephonic or
written) shall specify

            (i) whether the Borrower is requesting a Revolving Borrowing, a
      conversion of Revolving Loans from one Type to the other, or a
      continuation of Eurodollar Rate Loans,

            (ii) the requested date of the Revolving Borrowing, conversion or
      continuation, as the case may be (which shall be a Business Day),

            (iii) the principal amount of Revolving Loans to be borrowed,
      converted or continued,

            (iv) the Type of Revolving Loans to be borrowed or to which existing
      Revolving Loans are to be converted, and

            (v) if applicable, the duration of the Interest Period with respect
      thereto.

If the Borrower fails to specify a Type of Revolving Loan in a Revolving Loan
Notice or if the Borrower fails to give a timely notice requesting a conversion
or continuation, then the applicable Revolving Loans shall be made as, or
converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans
shall be effective as of the last day of the Interest Period then in effect with
respect to the applicable Eurodollar Rate Loans. If the Borrower requests a
Revolving Borrowing of, conversion to, or continuation of Eurodollar Rate Loans
in any such Revolving Loan Notice, but fails to specify an Interest Period, it
will be deemed to have specified an Interest Period of one month.

      (b) Following receipt of a Revolving Loan Notice, the Administrative Agent
shall promptly notify each Lender of the amount of its Pro Rata Share of the
applicable Revolving Loans, and if no timely notice of a conversion or
continuation is provided by the Borrower, the Administrative Agent shall notify
each Lender of the details of any automatic conversion to Base Rate Loans
described in the preceding subsection. In the case of a Revolving Borrowing,
each Lender shall make the amount of its Revolving Loan available to the
Administrative Agent in immediately available funds at the Administrative
Agent's Office not later than 1:00 p.m. on the Business Day specified in the
applicable Revolving Loan Notice. Upon satisfaction of the applicable conditions
set forth in Section 4.02 (and, if such Revolving Borrowing is the initial
Credit Extension, Section 4.01), the Administrative Agent shall make all funds
so received available to the Borrower in like funds as received by the
Administrative Agent either by (i) crediting the account of the Borrower on the
books of Bank of America with the amount of such funds or (ii) wire transfer of
such funds, in each case in accordance with instructions provided to (and
reasonably acceptable to) the Administrative Agent by the Borrower; provided,
however, that if, on the date the Revolving Loan Notice with respect to such
Revolving Borrowing is given by the Borrower, there are L/C Borrowings
outstanding, then the proceeds of such Revolving Borrowing, first, shall be
applied to the payment in full of any such L/C Borrowings, and second, shall be
made available to the Borrower as provided above.

      (c) Except as otherwise provided herein, a Eurodollar Rate Loan may be
continued or converted only on the last day of an Interest Period for such
Eurodollar Rate Loan. During the

                                       24
<PAGE>

existence of a Default, no Revolving Loans may be requested as, converted to or
continued as Eurodollar Rate Loans without the consent of the Required Lenders.

      (d) The Administrative Agent shall promptly notify the Borrower and the
Lenders of the interest rate applicable to any Interest Period for Eurodollar
Rate Loans upon determination of such interest rate. The determination of the
Eurodollar Rate by the Administrative Agent shall be conclusive in the absence
of manifest error. At any time that Base Rate Loans are outstanding, the
Administrative Agent shall notify the Borrower and the Lenders of any change in
Bank of America's prime rate used in determining the Base Rate promptly
following the public announcement of such change.

      (e) After giving effect to all Revolving Borrowings, all conversions of
Revolving Loans from one Type to the other, and all continuations of Revolving
Loans as the same Type, there shall not be more than ten Interest Periods in
effect with respect to Revolving Loans.

      2.03 LETTERS OF CREDIT.

      (a) The Letter of Credit Commitment.

            (i) Subject to the terms and conditions set forth herein, (A) any
      L/C Issuer agrees, in reliance upon the agreements of the other Lenders
      set forth in this Section 2.03, (1) from time to time on any Business Day
      during the period from the Closing Date until the Letter of Credit
      Expiration Date, to issue Letters of Credit for the account of the
      Borrower or certain Subsidiaries, and to amend or renew Letters of Credit
      previously issued by it, in accordance with subsection (b) below, and (2)
      to honor drafts under the Letters of Credit; and (B) the Lenders severally
      agree to participate in Letters of Credit issued for the account of the
      Borrower or certain Subsidiaries and any drawings thereunder; provided
      that no L/C Issuer shall be obligated to make any L/C Credit Extension
      with respect to any Letter of Credit, and no Lender shall be obligated to
      participate in any Letter of Credit if as of the date of such L/C Credit
      Extension, (x) the Total Outstandings would exceed the Aggregate
      Commitments, (y) the aggregate Outstanding Amount of the Revolving Loans
      of any Lender, plus such Lender's Pro Rata Share of the Outstanding Amount
      of all L/C Obligations, plus such Lender's Pro Rata Share of the
      Outstanding Amount of all Swing Line Loans, would exceed such Lender's
      Commitment, or (z) the Outstanding Amount of the L/C Obligations would
      exceed the Letter of Credit Sublimit. Within the foregoing limits, and
      subject to the terms and conditions hereof, the Borrower's ability to
      obtain Letters of Credit shall be fully revolving, and accordingly the
      Borrower may, during the foregoing period, obtain Letters of Credit to
      replace Letters of Credit that have expired or that have been drawn upon
      and reimbursed. All Existing Letters of Credit shall be deemed to have
      been issued pursuant hereto, and from and after the Closing Date shall be
      subject to and governed by the terms and conditions hereof.

            (ii) No L/C Issuer shall issue any Letter of Credit if:

                  (A) any order, judgment or decree of any Governmental
            Authority or arbitrator shall by its terms purport to enjoin or
            restrain such L/C Issuer from

                                       25
<PAGE>

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

                  (B) subject to Section 2.03(b)(iii), the expiry date of such
            requested Letter of Credit would occur more than twelve months after
            the date of issuance or last renewal, unless the Required Lenders
            have approved such expiry date;

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

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

                  (E) such Letter of Credit is in an initial amount less than
            $10,000, or is to be denominated in a currency other than Dollars.

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

            (iv) Each L/C Issuer shall act on behalf of the Lenders with respect
      to any Letters of Credit issued by it and the documents associated
      therewith, and each L/C Issuer shall have all of the benefits and
      immunities (A) provided to the Administrative Agent in Article IX with
      respect to any acts taken or omissions suffered by such L/C Issuer in
      connection with Letters of Credit issued by it or proposed to be issued by
      it and Issuer Documents pertaining to such Letters of Credit as fully as
      if the term "Administrative Agent" as used in Article IX included each L/C
      Issuer with respect to such acts or omissions, and (B) as additionally
      provided herein with respect to each L/C Issuer.

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

            (i) Each Letter of Credit shall be issued or amended, as the case
      may be, upon the request of the Borrower delivered to the relevant L/C
      Issuer (with a copy to the Administrative Agent) in the form of a Letter
      of Credit Application, appropriately completed and signed by a Responsible
      Officer of the Borrower. Such Letter of Credit Application must be
      received by relevant L/C Issuer and the Administrative Agent not

                                       26
<PAGE>

      later than 11:00 a.m. at least two Business Days (or such later date and
      time as the relevant L/C Issuer may agree in a particular instance in its
      sole discretion) prior to the proposed issuance date or date of amendment,
      as the case may be. In the case of a request for an initial issuance of a
      Letter of Credit, such Letter of Credit Application shall specify in form
      and detail satisfactory to the relevant L/C Issuer: (A) the proposed
      issuance date of the requested Letter of Credit (which shall be a Business
      Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name
      and address of the beneficiary thereof; (E) the documents to be presented
      by such beneficiary in case of any drawing thereunder; (F) the full text
      of any certificate to be presented by such beneficiary in case of any
      drawing thereunder; and (G) such other matters as the relevant L/C Issuer
      may require. In the case of a request for an amendment of any outstanding
      Letter of Credit, such Letter of Credit Application shall specify in form
      and detail satisfactory to relevant L/C Issuer (A) the Letter of Credit to
      be amended; (B) the proposed date of amendment thereof (which shall be a
      Business Day); (C) the nature of the proposed amendment; and (D) such
      other matters as the relevant L/C Issuer may require.

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

            (iii) If the Borrower so requests in any applicable Letter of Credit
      Application, the relevant L/C Issuer may, in its sole and absolute
      discretion, agree to issue a Letter of Credit that has automatic renewal
      provisions (each, an "Auto-Renewal Letter of Credit"); provided that any
      such Auto-Renewal Letter of Credit must permit the L/C Issuer to prevent
      any such renewal at least once in each twelve-month period (commencing
      with the date of issuance of such Letter of Credit) by giving prior notice
      to the beneficiary thereof not later than a day (the "Nonrenewal Notice
      Date") in each such twelve-month period to be agreed upon at the time such
      Letter of Credit is issued. Unless otherwise directed by the relevant L/C
      Issuer, the Borrower shall not be required to make a specific request to
      the L/C Issuer for any such renewal. Once an Auto-Renewal Letter of Credit
      has been issued, the Lenders shall be deemed to have authorized (but may
      not require) the relevant L/C Issuer to permit the renewal of such Letter
      of Credit at any time to an expiry date not later than the Letter of
      Credit Expiration Date; provided, however, that such L/C Issuer shall not
      permit any such renewal if (A) the L/C Issuer has determined that it would
      have no obligation at such time to issue such Letter of Credit in its
      renewed form under the terms hereof (by reason of the provisions of
      Section 2.03(a)(ii) or otherwise), or

                                       27
<PAGE>

      (B) it has received notice (which may be by telephone or in writing) on or
      before the day that is five Business Days before the Nonrenewal Notice
      Date (1) from the Administrative Agent that the Required Lenders have
      elected not to permit such renewal or (2) from the Administrative Agent,
      any Lender or the Borrower that one or more of the applicable conditions
      specified in Section 4.02 is not then satisfied.

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

            (v) No later than 5 days prior to the last day of each calendar
      quarter, each L/C Issuer shall provide to the Administrative Agent and the
      Borrower separate schedules or invoices for standby Letters of Credit and
      commercial Letters of Credit issued by it, in form and substance
      reasonably satisfactory to the Administrative Agent, setting forth the
      aggregate L/C Obligations outstanding at the time of delivery of such
      schedules or invoices with respect to Letters of Credit issued by such L/C
      Issuer, and any information requested by the Borrower or the
      Administrative Agent relating thereto.

      (c) Drawings and Reimbursements; Funding of Participations.

            (i) Upon receipt from the beneficiary of any Letter of Credit of any
      notice of a drawing under such Letter of Credit, the relevant L/C Issuer
      shall notify the Borrower and the Administrative Agent thereof. Not later
      than 11:00 a.m. on the date of any payment by any L/C Issuer under a
      Letter of Credit (each such date, an "Honor Date"), the Borrower shall
      reimburse such L/C Issuer through the Administrative Agent in an amount
      equal to the amount of such drawing. If the Borrower fails to so reimburse
      such L/C Issuer by such time, the Administrative Agent shall promptly
      notify each Lender of the Honor Date, the amount of the unreimbursed
      drawing (the "Unreimbursed Amount"), and the amount of such Lender's Pro
      Rata Share thereof. In such event, the Borrower shall be deemed to have
      requested a Revolving Borrowing of Base Rate Loans to be disbursed on the
      Honor Date in an amount equal to the Unreimbursed Amount, without regard
      to the minimum and multiples specified in Section 2.02 for the principal
      amount of Base Rate Loans, but subject to the amount of the unutilized
      portion of the Aggregate Commitments and the conditions set forth in
      Section 4.02 (other than the delivery of a Revolving Loan Notice). Any
      notice given by an L/C Issuer or the Administrative Agent pursuant to this
      Section 2.03(c)(i) may be given by telephone if immediately confirmed in
      writing; provided that the lack of such an immediate confirmation shall
      not affect the conclusiveness or binding effect of such notice.

            (ii) Each Lender (including any Lender acting as an L/C Issuer)
      shall upon any notice pursuant to Section 2.03(c)(i) make funds available
      to the Administrative Agent for the account of such L/C Issuer at the
      Administrative Agent's Office in an amount equal to its Pro Rata Share of
      the Unreimbursed Amount not later than 1:00 p.m. on the Business Day
      specified in such notice by the Administrative Agent, whereupon, subject
      to the provisions of Section 2.03(c)(iii), each Lender that so makes funds
      available shall be deemed to have made a Base Rate Loan to the Borrower in
      such

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<PAGE>

      amount. The Administrative Agent shall remit the funds so received to the
      relevant L/C Issuer.

            (iii) With respect to any Unreimbursed Amount that is not fully
      refinanced by a Revolving Borrowing of Base Rate Loans because the
      conditions set forth in Section 4.02 cannot be satisfied or for any other
      reason (including by reason of a default by a Defaulting Lender), the
      Borrower shall be deemed to have incurred from the relevant L/C Issuer an
      L/C Borrowing in the amount of the Unreimbursed Amount that is not so
      refinanced, which L/C Borrowing shall be due and payable on demand
      (together with interest) and shall bear interest at the Default Rate. In
      such event, each Lender's payment to the Administrative Agent for the
      account of such L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed
      payment in respect of its participation in such L/C Borrowing and shall
      constitute an L/C Advance from such Lender in satisfaction of its
      participation obligation under this Section 2.03.

            (iv) Until each Lender funds its Revolving Loan or L/C Advance
      pursuant to this Section 2.03(c) to reimburse the relevant L/C Issuer for
      any amount drawn under any Letter of Credit, interest in respect of such
      Lender's Pro Rata Share of such amount shall be solely for the account of
      such L/C Issuer. If any Lender fails to fund its Revolving Loan or L/C
      Advance pursuant to this Section 2.03(c), any principal payment in respect
      of such Lender's Pro Rata Share of such amount shall be solely for the
      account of such L/C Issuer.

            (v) Each Lender's obligation to make Revolving Loans or L/C Advances
      to reimburse an L/C Issuer for amounts drawn under Letters of Credit, as
      contemplated by this Section 2.03(c), shall be absolute and unconditional
      and shall not be affected by any circumstance, including (A) any set-off,
      counterclaim, recoupment, defense or other right which such Lender may
      have against such L/C Issuer, the Borrower or any other Person for any
      reason whatsoever; (B) the occurrence or continuance of a Default, or (C)
      any other occurrence, event or condition, whether or not similar to any of
      the foregoing, including whether or not the conditions set forth in
      Section 4.02 shall have been satisfied. No such making of an L/C Advance
      shall relieve or otherwise impair the obligation of the Borrower to
      reimburse an L/C Issuer for the amount of any payment made by such L/C
      Issuer under any Letter of Credit, together with interest as provided
      herein.

            (vi) If any Lender fails to make available to the Administrative
      Agent for the account of an L/C Issuer any amount required to be paid by
      such Lender pursuant to the foregoing provisions of this Section 2.03(c)
      by the time specified in Section 2.03(c)(ii), such L/C Issuer shall be
      entitled to recover from such Lender (acting through the Administrative
      Agent), on demand, such amount with interest thereon for the period from
      the date such payment is required to the date on which such payment is
      immediately available to such L/C Issuer at a rate per annum equal to the
      greater of the Federal Funds Rate from time to time in effect and a rate
      determined by such L/C issuer in accordance with banking industry rules on
      interbank compensation. A certificate of an L/C Issuer submitted to any
      Lender (through the Administrative Agent) with respect to any amounts
      owing under this clause (vi) shall be conclusive absent manifest error.

                                       29
<PAGE>

      (d) Repayment of Participations.

            (i) At any time after an L/C Issuer has made a payment under any
      Letter of Credit and has received from any Lender such Lender's L/C
      Advance in respect of such payment in accordance with Section 2.03(c), if
      the Administrative Agent receives for the account of an L/C Issuer any
      payment in respect of the related Unreimbursed Amount or interest thereon
      (whether directly from the Borrower or otherwise, including proceeds of
      Cash Collateral applied thereto by the Administrative Agent), the
      Administrative Agent will distribute to such Lender its Pro Rata Share
      thereof (appropriately adjusted, in the case of interest payments, to
      reflect the period of time during which such Lender's L/C Advance was
      outstanding) in the same funds as those received by the Administrative
      Agent.

            (ii) If any payment received by the Administrative Agent for the
      account of an L/C Issuer pursuant to Section 2.03(c)(i) is required to be
      returned under any of the circumstances described in Section 10.06
      (including pursuant to any settlement entered into by an L/C Issuer in its
      discretion), each Lender shall pay to the Administrative Agent for the
      account of such L/C Issuer its Pro Rata Share thereof on demand of the
      Administrative Agent, plus interest thereon from the date of such demand
      to the date such amount is returned by such Lender, at a rate per annum
      equal to the Federal Funds Rate from time to time in effect. The
      obligations of the Lenders under this clause shall survive the payment in
      full of the Obligations and termination of this Agreement.

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

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

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

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

            (iv) any payment by an L/C Issuer under such Letter of Credit
      against presentation of a draft or certificate that does not strictly
      comply with the terms of such

                                       30
<PAGE>

      Letter of Credit; or any payment made by an L/C Issuer under such Letter
      of Credit to any Person purporting to be a trustee in bankruptcy,
      debtor-in-possession, assignee for the benefit of creditors, liquidator,
      receiver or other representative of or successor to any beneficiary or any
      transferee of such Letter of Credit, including any arising in connection
      with any proceeding under any Debtor Relief Law; or

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

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

      (f) Role of L/C Issuer. Each Lender and the Borrower agree that, in paying
any drawing under a Letter of Credit, no L/C Issuer shall have any
responsibility to obtain any document (other than any sight draft, certificates
and documents expressly required by the Letter of Credit) or to ascertain or
inquire as to the validity or accuracy of any such document or the authority of
the Person executing or delivering any such document. None of the L/C Issuers,
any Agent-Related Person nor any of the respective correspondents, participants
or assignees of an L/C Issuer shall be liable to any Lender for (i) any action
taken or omitted in connection herewith at the request or with the approval of
the Lenders or the Required Lenders, as applicable; (ii) any action taken or
omitted in the absence of gross negligence or willful misconduct; or (iii) the
due execution, effectiveness, validity or enforceability of any document or
instrument related to any Letter of Credit or Letter of Credit Application. The
Borrower hereby assumes all risks of the acts or omissions of any beneficiary or
transferee with respect to its use of any Letter of Credit; provided, however,
that this assumption is not intended to, and shall not, preclude the Borrower's
pursuing such rights and remedies as it may have against the beneficiary or
transferee at Law or under any other agreement. None of the L/C Issuers, any
Agent-Related Person, nor any of the respective correspondents, participants or
assignees of an L/C Issuer, shall be liable or responsible for any of the
matters described in clauses (i) through (v) of Section 2.03(e); provided,
however, that anything in such clauses to the contrary notwithstanding, the
Borrower may have a claim against an L/C Issuer, and an L/C Issuer may be liable
to the Borrower, to the extent, but only to the extent, of any direct, as
opposed to consequential or exemplary, damages suffered by the Borrower which
the Borrower proves were caused by such L/C Issuer's willful misconduct or gross
negligence or such L/C Issuer's willful failure to pay under any Letter of
Credit after the presentation to it by the beneficiary of a sight draft and
certificate(s) strictly complying with the terms and conditions of a Letter of
Credit. In furtherance and not in limitation of the foregoing, any L/C Issuer
may accept documents that appear on their face to be in order, without
responsibility for further investigation, regardless of any notice or
information to the contrary, and no L/C Issuer shall be responsible for the
validity or sufficiency of any instrument transferring or assigning or
purporting to transfer or assign a Letter of Credit or the rights or benefits
thereunder or proceeds thereof, in whole or in part, which may prove to be
invalid or ineffective for any reason.

                                       31
<PAGE>

      (g) Cash Collateral. Upon the request of the Administrative Agent, (i) if
any L/C Issuer has honored any full or partial drawing request under any Letter
of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of
the Letter of Credit Expiration Date, (a) any Letter of Credit may for any
reason remain outstanding and partially or wholly undrawn or (b) any amount
remains available to be drawn under any Letter of Credit by reason of the
operation of Section 3.14 of the "International Standby Practices" published by
the Institute of International Banking Law and Practice (or such later version
thereof as may be in effect at the time of issuance), the Borrower shall
immediately Cash Collateralize the then Outstanding Amount of all L/C
Obligations (in an amount equal to such Outstanding Amount determined as of the
date of such L/C Borrowing or the Letter of Credit Expiration Date, as the case
may be). For purposes hereof, "Cash Collateralize" means to pledge and deposit
with or deliver to the Administrative Agent, for the benefit of such L/C Issuer
and the Lenders, as collateral for the L/C Obligations, cash or deposit account
balances pursuant to documentation in form and substance satisfactory to the
Administrative Agent and such L/C Issuer (which documents are hereby consented
to by the Lenders). Derivatives of such term have corresponding meanings. The
Borrower hereby grants to the Administrative Agent, for the benefit of the
relevant L/C Issuer and the Lenders, a security interest in all such cash,
deposit accounts and all balances therein and all proceeds of the foregoing.
Cash collateral shall be maintained in blocked, non-interest bearing deposit
accounts at Bank of America.

      (h) Applicability of ISP and UCP. Unless otherwise expressly agreed by the
relevant L/C Issuer and the Borrower when a Letter of Credit is issued
(including any such agreement applicable to an Existing Letter of Credit), (i)
the rules of ISP shall apply to each standby Letter of Credit, and (ii) the
rules of the Uniform Customs and Practice for Documentary Credits, as most
recently published by the International Chamber of Commerce (the "ICC") at the
time of issuance shall apply to each commercial Letter of Credit.

      (i) Letter of Credit Fees. The Borrower shall pay to the Administrative
Agent for the account of each Lender in accordance with its Pro Rata Share a
Letter of Credit fee (the "Letter of Credit Fee") for each Letter of Credit
equal to the Applicable Rate times the daily maximum amount available to be
drawn under such Letter of Credit. Such Letter of Credit Fee shall be computed
on a quarterly basis in arrears. Such Letter of Credit Fees shall be due and
payable on the first Business Day after the end of each March, June, September
and December, commencing with the first such date to occur after the issuance of
such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on
demand. If there is any change in the Applicable Rate during any quarter, the
daily maximum amount of each Letter of Credit shall be computed and multiplied
by the Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect.

      (j) Fronting Fee and Documentary and Processing Charges Payable to L/C
Issuer. The Borrower shall pay directly to the relevant L/C Issuer for its own
account a fronting fee with respect to each Letter of Credit equal to the
greater of $250.00 or (i) 1/8 of 1% per annum times the daily maximum amount
available to be drawn under each standby Letter of Credit computed on a
quarterly basis in arrears, and payable on the first Business Day after the end
of each of March, June, September and December, commencing with the first such
date to occur after the issuance of such Letter of Credit, on the Letter of
Credit Expiration Date, and thereafter on demand, and (ii) 1/8 of 1% times the
face amount of each commercial Letter of Credit, computed

                                       32
<PAGE>

and payable on the date of issuance and the date of any extension or increase
thereof. For purposes of computing the daily amount available to be drawn under
any Letter of Credit, the amount of such Letter of Credit shall be determined in
accordance with Section 1.07. In addition, the Borrower shall pay directly to
the relevant L/C Issuer for its own account the customary issuance,
presentation, amendment and other processing fees, of such L/C Issuer relating
to letters of credit as from time to time in effect. Such customary fees are due
and payable on demand and are nonrefundable. Notwithstanding anything contained
in this provision to the contrary, the Borrower shall not be required to pay a
new fronting fee on an Existing Letter of Credit that is deemed to be issued
under this Agreement for the period prior to the Closing Date.

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

      (l) Letters of Credit Issued for Subsidiaries. Notwithstanding that a
Letter of Credit issued or outstanding hereunder is in support of any
obligations of, or is for the account of, a Subsidiary, the Borrower shall be
obligated to reimburse the applicable L/C Issuer hereunder for any and all
drawings under such Letter of Credit. The Borrower hereby acknowledges that the
issuance of Letters of Credit for the account of Subsidiaries inures to the
benefit of the Borrower, and that the Borrower's business derives substantial
benefits from the businesses of such Subsidiaries.

      2.04 SWING LINE LOANS.

      (a) The Swing Line. Subject to the terms and conditions set forth herein,
the Swing Line Lender agrees, in reliance upon the agreements of the other
Lenders set forth in this Section 2.04, to make loans (each such loan, a "Swing
Line Loan") to the Borrower from time to time on any Business Day during the
period from the Closing Date to the Maturity Date in an aggregate amount not to
exceed at any time outstanding the amount of the Swing Line Sublimit,
notwithstanding the fact that such Swing Line Loans, when aggregated with the
Outstanding Amount of Revolving Loans of the Swing Line Lender in its capacity
as a Lender of Revolving Loans, may exceed the amount of such Lender's
Commitment; provided, however, that after giving effect to any Swing Line Loan,
(i) the aggregate Outstanding Amount of all Revolving Loans, Swing Line Loans
and L/C Obligations shall not exceed the Aggregate Commitments, and (ii) the
aggregate Outstanding Amount of all Revolving Loans of any Lender, plus such
Lender's Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus
such Lender's Pro Rata Share of the Outstanding Amount of all Swing Line Loans
shall not exceed such Lender's Commitment, and provided, further, that the Swing
Line Lender shall not make any Swing Line Loan to refinance an outstanding Swing
Line Loan. Within the foregoing limits, and subject to the other terms and
conditions hereof, the Borrower may borrow under this Section 2.04, prepay under
Section 2.05, and reborrow under this Section 2.04. Immediately upon the making
of a Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and
unconditionally agrees to, purchase from the Swing Line Lender a risk
participation in such Swing Line Loan in an amount equal to the product of such
Lender's Pro Rata Share times the amount of such Swing Line Loan.

                                       33
<PAGE>

      (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the
Borrower's irrevocable notice to the Swing Line Lender and the Administrative
Agent, which may be given by telephone. Each such notice must be received by the
Swing Line Lender and the Administrative Agent not later than 12:00 noon,
Dallas, Texas time, on the requested borrowing date, and shall specify (i) the
amount to be borrowed, which shall be a minimum of $1,000,000 or a whole
multiple of $100,000 in excess thereof, and (ii) the requested borrowing date,
which shall be a Business Day. Each such telephonic notice must be confirmed
promptly by delivery to the Swing Line Lender and the Administrative Agent of a
written Swing Line Loan Notice, appropriately completed and signed by two
Responsible Officers of the Borrower. Promptly after receipt by the Swing Line
Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will
confirm with the Administrative Agent (by telephone or in writing) that the
Administrative Agent has also received such Swing Line Loan Notice and, if not,
the Swing Line Lender will notify the Administrative Agent (by telephone or in
writing) of the contents thereof. Unless the Swing Line Lender has received
notice (by telephone or in writing) from the Administrative Agent (including at
the request of any Lender) prior to 1:00 p.m., Dallas, Texas time, on the date
of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to
make such Swing Line Loan as a result of the limitations set forth in the first
proviso to the first sentence of Section 2.04(a), or (B) that one or more of the
applicable conditions specified in Article IV is not then satisfied, then,
subject to the terms and conditions hereof, the Swing Line Lender will, not
later than 2:00 p.m., Dallas, Texas time, on the borrowing date specified in
such Swing Line Loan Notice, make the amount of its Swing Line Loan available to
the Borrower at its office by crediting the account of the Borrower on the books
of the Swing Line Lender in immediately available funds.

      (c) Refinancing of Swing Line Loans.

            (i) The Swing Line Lender at any time in its sole and absolute
      discretion may request, on behalf of the Borrower (which hereby
      irrevocably requests the Swing Line Lender to act on its behalf), that
      each Lender make a Base Rate Loan in an amount equal to such Lender's Pro
      Rata Share of the amount of Swing Line Loans then outstanding. Such
      request shall be made in accordance with the requirements of Section 2.02,
      without regard to the minimum and multiples specified therein for the
      principal amount of Base Rate Loans, but subject to the unutilized portion
      of the Aggregate Commitments and the conditions set forth in Section 4.02.
      The Swing Line Lender shall furnish the Borrower with a copy of the
      applicable Revolving Loan Notice promptly after delivering such notice to
      the Administrative Agent. Each Lender shall make an amount equal to its
      Pro Rata Share of the amount specified in such Revolving Loan Notice
      available to the Administrative Agent in immediately available funds for
      the account of the Swing Line Lender at the Administrative Agent's Payment
      Office not later than 12:00 noon, Dallas, Texas time, on the day specified
      in such Revolving Loan Notice, whereupon, subject to Section 2.04(c)(ii),
      each Lender that so makes funds available shall be deemed to have made a
      Base Rate Loan to the Borrower in such amount. The Administrative Agent
      shall remit the funds so received to the Swing Line Lender.

            (ii) If for any reason any Revolving Borrowing cannot be requested
      in accordance with Section 2.04(c)(i) or any Swing Line Loan cannot be
      refinanced by such a Revolving Borrowing, the Revolving Loan Notice
      submitted by the Swing Line Lender

                                       34
<PAGE>

      shall be deemed to be a request by the Swing Line Lender that each of the
      Lenders fund its participation in the relevant Swing Line Loan and each
      Lender's payment to the Administrative Agent for the account of the Swing
      Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in
      respect of such participation.

            (iii) If any Lender fails to make available to the Administrative
      Agent for the account of the Swing Line Lender any amount required to be
      paid by such Lender pursuant to the foregoing provisions of this Section
      2.04(c) by the time specified in Section 2.04(c)(i), the Swing Line Lender
      shall be entitled to recover from such Lender (acting through the
      Administrative Agent), on demand, such amount with interest thereon for
      the period from the date such payment is required to the date on which
      such payment is immediately available to the Swing Line Lender at a rate
      per annum equal to the greater of the Federal Funds Rate from time to time
      in effect and a rate determined by the Swing Line Lender in accordance
      with industry rules on interbank compensation. A certificate of the Swing
      Line Lender submitted to any Lender (through the Administrative Agent)
      with respect to any amounts owing under this clause (iii) shall be
      conclusive absent manifest error.

            (iv) Each Lender's obligation to make Revolving Loans or to purchase
      and fund participations in Swing Line Loans pursuant to this Section
      2.04(c) shall be absolute and unconditional and shall not be affected by
      any circumstance, including (A) any setoff, counterclaim, recoupment,
      defense or other right which such Lender may have against the Swing Line
      Lender, the Borrower or any other Person for any reason whatsoever, (B)
      the occurrence or continuance of a Default or Event of Default, or (C) any
      other occurrence, event or condition, whether or not similar to any of the
      foregoing. Any such purchase of participations shall not relieve or
      otherwise impair the obligation of the Borrower to repay Swing Line Loans,
      together with interest as provided herein.

      (d) Repayment of Participations.

            (i) At any time after any Lender has purchased and funded a
      participation in a Swing Line Loan, if the Swing Line Lender receives any
      payment on account of such Swing Line Loan, the Swing Line Lender will
      distribute to such Lender its Pro Rata Share of such payment
      (appropriately adjusted, in the case of interest payments, to reflect the
      period of time during which such Lender's participation was outstanding
      and funded) in the same funds as those received by the Swing Line Lender.

            (ii) If any payment received by the Swing Line Lender in respect of
      principal or interest on any Swing Line Loan is required to be returned by
      the Swing Line Lender, each Lender shall pay to the Swing Line Lender its
      Pro Rata Share thereof on demand of the Administrative Agent, plus
      interest thereon from the date of such demand to the date such amount is
      returned, at a rate per annum equal to the Federal Funds Rate. The
      Administrative Agent will make such demand upon the request of the Swing
      Line Lender. The obligations of the Lenders under this clause shall
      survive payment in full of the Obligations and termination of this
      Agreement.

                                       35
<PAGE>

      (e) Interest for Account of Swing Line Lender. The Swing Line Lender shall
be responsible for invoicing the Borrower for interest on the Swing Line Loans.
Until each Lender funds its Base Rate Loan or participation pursuant to this
Section 2.04 to refinance such Lender's Pro Rata Share of any Swing Line Loan,
interest in respect of such Pro Rata Share shall be solely for the account of
the Swing Line Lender.

      (f) Payments Directly to Swing Line Lender. The Borrower shall make all
payments of principal and interest in respect of the Swing Line Loans directly
to the Swing Line Lender.

      2.05 PREPAYMENTS.

      (a) The Borrower may, upon notice to the Administrative Agent, at any time
or from time to time voluntarily prepay Revolving Loans in whole or in part
without premium or penalty; provided that (i) such notice must be received by
the Administrative Agent not later than 11:00 a.m. (A) three Business Days prior
to any date of prepayment of Eurodollar Rate Loans and (B) one Business Day
prior to the date of prepayment of Base Rate Loans; (ii) any prepayment of
Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole
multiple of $1,000,000 in excess thereof; and (iii) any prepayment of Base Rate
Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000
in excess thereof or, in each case, if less, the entire principal amount thereof
then outstanding. Each such notice shall specify the date and amount of such
prepayment and the Type(s) of Revolving Loans to be prepaid. The Administrative
Agent will promptly notify each Lender of its receipt of each such notice, and
of the amount of such Lender's Pro Rata Share of such prepayment. If such notice
is given by the Borrower, the Borrower shall make such prepayment and the
payment amount specified in such notice shall be due and payable on the date
specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied
by all accrued interest thereon, together with any additional amounts required
pursuant to Section 3.05. Each such prepayment shall be applied to the Revolving
Loans of the Lenders in accordance with their respective Pro Rata Shares.

      (b) The Borrower may, upon notice to the Swing Line Lender (with a copy to
the Administrative Agent), at any time or from time to time, voluntarily prepay
Swing Line Loans in whole or in part without premium or penalty; provided that
(i) such notice must be received by the Swing Line Lender and the Administrative
Agent not later than 12:00 noon, Dallas, Texas time, on the date of the
prepayment, and (ii) any such prepayment shall be in a principal amount of
$100,000 or a whole multiple of $50,000 in excess thereof. Each such notice
shall specify the date and amount of such prepayment. If such notice is given by
the Borrower, the Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein.

      (c) If for any reason the Total Outstandings at any time exceed the
Aggregate Commitments then in effect, the Borrower shall immediately prepay
Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal
to such excess; provided, however, that the Borrower shall not be required to
Cash Collateralize the L/C Obligations pursuant to this Section 2.05(c) unless
after the prepayment in full of the Loans the Total Outstandings exceed the
Aggregate Commitments then in effect.

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<PAGE>

      2.06 TERMINATION OR REDUCTION OF COMMITMENTS.

      (a) The Borrower may, upon notice to the Administrative Agent, terminate
the Aggregate Commitments, or from time to time permanently reduce the Aggregate
Commitments; provided that (i) any such notice shall be received by the
Administrative Agent not later than 11:00 a.m. five Business Days prior to the
date of termination or reduction, (ii) any such partial reduction shall be in an
aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess
thereof, (iii) the Borrower shall not terminate or reduce the Aggregate
Commitments if, after giving effect thereto and to any concurrent prepayments
hereunder, the Total Outstandings would exceed the Aggregate Commitments, and
(iv) if, after giving effect to any reduction of the Aggregate Commitments, the
Letter of Credit Sublimit or Swing Line Sublimit exceeds the amount of the
Aggregate Commitments, such Letter of Credit Sublimit or Swing Line Sublimit
shall be automatically reduced by the amount of such excess.

      (b) The Administrative Agent will promptly notify the Lenders of any such
notice of termination or reduction of the Aggregate Commitments. Any reduction
of the Aggregate Commitments shall be applied to the Commitment of each Lender
according to its Pro Rata Share. Once reduced in accordance with this Section
2.06, the Aggregate Commitments may not be increased. All Facility Fees accrued
until the effective date of any termination of the Aggregate Commitments shall
be paid on the effective date of such termination.

      2.07 REPAYMENT. The Borrower shall repay to the Lenders on the Maturity
Date the aggregate principal amount of Revolving Loans outstanding on such date.
The Borrower shall repay each Swing Line Loan on the earlier to occur of (a) the
date ten Business Days after such Loan is made and (b) the Maturity Date. The
Borrower shall also pay all other outstanding Obligations on the Maturity Date.

      2.08 INTEREST.

      (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar
Rate Loan shall bear interest on the outstanding principal amount thereof for
each Interest Period at a rate per annum equal to the Eurodollar Rate for such
Interest Period plus the Applicable Rate, but in no event in excess of the
Highest Lawful Rate; (ii) each Base Rate Loan shall bear interest on the
outstanding principal amount thereof from the applicable Revolving Borrowing
date at a rate per annum equal to the Base Rate plus the Applicable Rate, but in
no event in excess of the Highest Lawful Rate; and (iii) each Swing Line Loan
shall bear interest on the outstanding principal amount thereof from the date of
the applicable Swing Line Borrowing Date at a rate per annum equal to the Daily
Floating LIBOR Rate plus the Applicable Rate, but in no event in excess of the
Highest Lawful Rate.

      (b) If any amount payable by the Borrower under any Loan Document is not
paid when due (without regard to any applicable grace periods), whether at
stated maturity, by acceleration or otherwise, such amount shall thereafter bear
interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by Applicable Laws. Furthermore,
upon the request of the Required Lenders, while any Event of Default exists, the
Borrower shall pay interest on the principal amount of all outstanding
Obligations hereunder at a fluctuating interest rate per annum at all times
equal to the Default Rate to the

                                       37
<PAGE>

fullest extent permitted by Applicable Laws. Accrued and unpaid interest on past
due amounts (including interest on past due interest) shall be due and payable
upon demand.

      (c) Interest on each Loan shall be due and payable in arrears on each
Interest Payment Date applicable thereto and at such other times as may be
specified herein. Interest hereunder shall be due and payable in accordance with
the terms hereof before and after judgment, and before and after the
commencement of any proceeding under any Debtor Relief Law.

      2.09 FEES. In addition to certain fees described in subsections (i) and
(j) of Section 2.03:

      (a) Facility Fee. The Borrower shall pay to the Administrative Agent for
the account of each Lender in accordance with its Pro Rata Share, a facility fee
("Facility Fee") equal to the Applicable Rate times the actual daily amount of
the Aggregate Commitments (or, if the Aggregate Commitments have terminated, on
the Outstanding Amount of all Revolving Loans, Swing Line Loans and L/C
Obligations), regardless of usage. The Facility Fee shall accrue at all times
during the Availability Period (and thereafter so long as any Revolving Loans,
Swing Line Loans or L/C Obligations remain outstanding), including at any time
(on and subsequent to the Closing Date) during which one or more of the
conditions in Article IV is not met, and shall be due and payable quarterly in
arrears on the last Business Day of each March, June, September and December,
commencing with the first such date to occur after the Closing Date, and on the
Maturity Date (and, if applicable, thereafter on demand). The Facility Fee shall
be calculated quarterly in arrears, and if there is any change in the Applicable
Rate during any quarter, the actual daily amount shall be computed and
multiplied by the Applicable Rate separately for each period during such quarter
that such Applicable Rate was in effect.

      (b) Other Fees.

            (i) The Borrower shall pay to the Arranger and the Administrative
      Agent for their own respective accounts fees in the amounts and at the
      times specified in the Fee Letter. Such fees shall be fully earned when
      paid and shall not be refundable for any reason whatsoever.

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

      2.10 COMPUTATION OF INTEREST AND FEES. All computations of interest for
Base Rate Loans when the Base Rate is determined by Bank of America's "prime
rate" shall be made on the basis of a year of 365 or 366 days, as the case may
be, and actual days elapsed. Subject to Section 10.10, all other computations of
fees and interest shall be made on the basis of a 360-day year and actual days
elapsed (which results in more fees or interest, as applicable, being paid than
if computed on the basis of a 365-day year). Interest shall accrue on each
Revolving Loan for the day on which the Revolving Loan is made, and shall not
accrue on a Revolving Loan, or any portion thereof, for the day on which the
Revolving Loan or such portion is paid, provided that any Revolving Loan that is
repaid on the same day on which it is made shall, subject to

                                       38
<PAGE>

Section 2.12(a), bear interest for one day. Each determination by the
Administrative Agent of an interest rate or fee hereunder shall be conclusive
and binding for all purposes, absent manifest error.

      2.11 EVIDENCE OF DEBT.

      (a) The Credit Extensions made by each Lender shall be evidenced by one or
more accounts or records maintained by such Lender and by the Administrative
Agent in the ordinary course of business. The accounts or records maintained by
the Administrative Agent and each Lender shall be conclusive absent manifest
error of the amount of the Credit Extensions made by the Lenders to the Borrower
and the interest and payments thereon. Any failure to so record or any error in
doing so shall not, however, limit or otherwise affect the obligation of the
Borrower hereunder to pay any amount owing with respect to the Obligations. In
the event of any conflict between the accounts and records maintained by any
Lender and the accounts and records of the Administrative Agent in respect of
such matters, the accounts and records of the Administrative Agent shall control
in the absence of manifest error. Upon the request of any Lender made through
the Administrative Agent, the Borrower shall execute and deliver to such Lender
(through the Administrative Agent) a Revolving Loan Note and/or Swing Line Note,
as applicable, which shall evidence such Lender's Loans in addition to such
accounts or records. Each Lender may attach schedules to its Note(s) and endorse
thereon the date, Type (if applicable), amount and maturity of the applicable
Loans and payments with respect thereto.

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

      2.12 PAYMENTS GENERALLY.

      (a) All payments to be made by the Borrower shall be made without
condition or deduction for any counterclaim, defense, recoupment or setoff.
Except as otherwise expressly provided herein, all payments by the Borrower
hereunder shall be made to the Administrative Agent, for the account of the
respective Lenders to which such payment is owed, at the Administrative Agent's
Office in Dollars and in immediately available funds not later than 2:00 p.m. on
the date specified herein. The Administrative Agent will promptly distribute to
each Lender its Pro Rata Share (or other applicable share as provided herein) of
such payment in like funds as received by wire transfer to such Lender's Lending
Office. All payments received by the Administrative Agent after 2:00 p.m. shall
be deemed received on the next succeeding Business Day and any applicable
interest or fee shall continue to accrue.

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

                                       39
<PAGE>

      (c) Unless the Borrower or any Lender has notified the Administrative
Agent, prior to the date any payment is required to be made by it to the
Administrative Agent hereunder, that the Borrower or such Lender, as the case
may be, will not make such payment, the Administrative Agent may assume that the
Borrower or such Lender, as the case may be, has timely made such payment and
may (but shall not be so required to), in reliance thereon, make available a
corresponding amount to the Person entitled thereto. If and to the extent that
such payment was not in fact made to the Administrative Agent in immediately
available funds, then:

            (i) if the Borrower failed to make such payment, each Lender shall
      forthwith on demand repay to the Administrative Agent the portion of such
      assumed payment that was made available to such Lender in immediately
      available funds, together with interest thereon in respect of each day
      from and including the date such amount was made available by the
      Administrative Agent to such Lender to the date such amount is repaid to
      the Administrative Agent in immediately available funds at the greater of
      the Federal Funds Rate from time to time in effect and a rate determined
      by the Administrative Agent in accordance with banking industry rules on
      interbank compensation; and

            (ii) if any Lender failed to make such payment, such Lender shall
      forthwith on demand pay to the Administrative Agent the amount thereof in
      immediately available funds, together with interest thereon for the period
      from the date such amount was made available by the Administrative Agent
      to the Borrower to the date such amount is recovered by the Administrative
      Agent (the "Compensation Period") at a rate per annum equal to the greater
      of the Federal Funds Rate from time to time in effect and a rate
      determined by the Administrative agent in accordance with banking industry
      rules on interbank compensation. If such Lender pays such amount to the
      Administrative Agent, then such amount shall constitute such Lender's
      Revolving Loan included in the applicable Revolving Borrowing. If such
      Lender does not pay such amount forthwith upon the Administrative Agent's
      demand therefor, the Administrative Agent may make a demand therefor upon
      the Borrower, and the Borrower shall pay such amount to the Administrative
      Agent, together with interest thereon for the Compensation Period at a
      rate per annum equal to the rate of interest applicable to the applicable
      Revolving Borrowing. Nothing herein shall be deemed to relieve any Lender
      from its obligation to fulfill its Commitment or to prejudice any rights
      which the Administrative Agent or the Borrower may have against any Lender
      as a result of any default by such Lender hereunder.

      A notice of the Administrative Agent to any Lender or the Borrower with
respect to any amount owing under this subsection (c) shall be conclusive,
absent manifest error.

      (d) If any Lender makes available to the Administrative Agent funds for
any Loan to be made by such Lender as provided in the foregoing provisions of
this Article II, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the applicable Credit Extension
set forth in Article IV are not satisfied or waived in accordance with the terms
hereof, the Administrative Agent shall return such funds (in like funds as
received from such Lender) to such Lender, without interest.

                                       40
<PAGE>

      (e) The obligations of the Lenders hereunder to make Revolving Loans and
to fund participations in Letters of Credit and Swing Line Loans, and to make
payments pursuant to Section 9.10 are several and not joint. The failure of any
Lender to make any Revolving Loan or to fund any such participation or to make
any payment under Section 9.10 on any date required hereunder shall not relieve
any other Lender of its corresponding obligation to do so on such date, and no
Lender shall be responsible for the failure of any other Lender to so make its
Revolving Loan or purchase its participation or to make its payment under
Section 9.10.

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

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

                                       41
<PAGE>

      2.14 INCREASE IN COMMITMENTS.

      (a) Request for Increase.

            (i) Provided there exists no Default, upon notice to the
      Administrative Agent (which shall promptly notify the Lenders), the
      Borrower may from time to time, request an increase in the Aggregate
      Commitments by an amount (for all such requests) not exceeding
      $50,000,000; provided that any such request for an increase shall be in a
      minimum amount of $10,000,000.

            (ii) The Borrower may invite, with the consent of the Administrative
      Agent, the L/C Issuer and the Swing Line Lender (such consent not to be
      unreasonably withheld or delayed), one or more Persons to become
      additional Lenders hereunder, pursuant to a joinder agreement in form and
      substance satisfactory to the Administrative Agent and its counsel, with
      aggregate Commitments of such Persons (the "New Commitments") not to
      exceed the amount of the requested increase.

            (iii) If the New Commitments of such Persons shall be less than the
      amount of the requested increase, the Administrative Agent shall notify
      the existing Lenders of the option to increase their Commitments
      hereunder.

            (iv) At the time of sending such notice, the Borrower (in
      consultation with the Administrative Agent) shall specify the time period
      within which each such existing Lender is requested to respond (which
      shall in no event be less than ten Business Days from the date of delivery
      of such notice to the Lenders).

      (b) Lender Elections to Increase. Each existing Lender shall notify the
Administrative Agent within such time period whether or not it agrees to
increase its Commitment and, if so, whether by an amount equal to, greater than,
or less than its Pro Rata Share of such requested increase less the New
Commitments. Any Lender not responding within such time period shall be deemed
to have declined to increase its Commitment.

      (c) Notification by Administrative Agent; Additional Lenders. The
Administrative Agent shall notify the Borrower and each Lender of the Lenders'
responses to each request made hereunder.

      (d) Effective Date and Allocations. If the Aggregate Commitments are
increased in accordance with this Section, the Administrative Agent and the
Borrower shall determine the effective date (the "Increase Effective Date") and
the final allocation of such increase. The Administrative Agent shall promptly
notify the Borrower and the Lenders of the final allocation of such increase and
the Increase Effective Date.

      (e) Conditions to Effectiveness of Increase. As a condition precedent to
such increase, the Borrower shall deliver to the Administrative Agent a
certificate of the Borrower dated as of the Increase Effective Date (in
sufficient copies for each Lender) signed by a Responsible Officer of the
Borrower (i) certifying and attaching the resolutions adopted by the Borrower
approving or consenting to such increase, and (ii) certifying that, before and
after giving effect to such increase, (A) the representations and warranties
contained in Article V (but

                                       42
<PAGE>

excluding Section 5.06(c)) and the other Loan Documents are true and correct on
and as of the Increase Effective Date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which
case they are true and correct as of such earlier date, and except that for
purposes of this Section 2.14, the representations and warranties contained in
subsections (a) and (b) of Section 5.06 shall be deemed to refer to the most
recent statements furnished pursuant to clauses (a) and (b), respectively, of
Section 6.01, and (B) no Default exists. The Borrower shall prepay any Revolving
Loans outstanding on the Increase Effective Date (and pay any additional amounts
required pursuant to Section 3.05) to the extent necessary to keep the
outstanding Revolving Loans ratable with any revised Pro Rata Shares arising
from any nonratable increase in the Commitments under this Section 2.14.

      (f) Conflicting Provisions. This Section shall supersede any provisions in
Sections 2.12 or 10.01 to the contrary.

                                   ARTICLE III
                     TAXES, YIELD PROTECTION AND ILLEGALITY

      3.01 TAXES.

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

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

                                       43
<PAGE>

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

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

      3.02 ILLEGALITY. If any Lender determines that any Law has made it
unlawful, or that any Governmental Authority has asserted that it is unlawful,
for any Lender or the Swing Line Lender, as the case may be, or its applicable
Lending Office to make, maintain or fund Eurodollar Rate Loans or Swing Line
Loans, or to determine or charge interest rates based upon the Eurodollar Rate
or the Daily Floating LIBOR Rate, then, on notice thereof by such Lender or the
Swing Line Lender, as the case may be, to the Borrower through the
Administrative Agent, any obligation of such Lender or the Swing Line Lender, as
the case may be, to make or continue Eurodollar Rate Loans or Swing Line Loans
or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended until
such Lender or the Swing Line Lender, as the case may be, notifies the
Administrative Agent and the Borrower that the circumstances giving rise to such
determination no longer exist. Upon receipt of such notice, the Borrower shall,
upon demand from such Lender or the Swing Line Lender, as the case may be, (with
a copy to the Administrative Agent), prepay or, if applicable, convert all
Eurodollar Rate Loans or Swing Line Loans of such Lender or the Swing Line
Lender, as the case may be, to Base Rate Loans, either on the last day of the
Interest Period therefor, if such Lender or the Swing Line Lender, as the case
may be, may lawfully continue to maintain such Eurodollar Rate Loans or Swing
Line Loans to such day, or immediately, if such Lender or the Swing Line Lender,
as the case may be, may not lawfully continue to maintain such Eurodollar Rate
Loans or Swing Line Loans. Upon any such prepayment or conversion, the Borrower
shall also pay accrued interest on the amount so prepaid or converted. Each
Lender or the Swing Line Lender, as the case may be, agrees to designate a
different Lending Office if such designation will avoid the need for such notice
and will not, in the good faith judgment of such Lender or the Swing Line
Lender, as the case may be, otherwise be materially disadvantageous to such
Lender or the Swing Line Lender, as the case may be.

      3.03 INABILITY TO DETERMINE RATES. If (a) the Required Lenders determine
that for any reason adequate and reasonable means do not exist for determining
the Eurodollar Rate for any requested Interest Period with respect to a proposed
Eurodollar Rate Loan, or that the Eurodollar Rate for any requested Interest
Period with respect to a proposed Eurodollar Rate Loan does not

                                       44
<PAGE>

adequately and fairly reflect the cost to such Lenders of funding such Revolving
Loan or (b) the Swing Line Lender determines that for any reason adequate and
reasonable means do not exist for determining the Daily Floating LIBOR Rate or
the Daily Floating LIBOR Rate does not adequately and fairly reflect the cost to
the Swing Line Lender of funding a Swing Line Loan, the Administrative Agent
will promptly so notify the Borrower and each Lender. Thereafter, the obligation
of the Lenders to make or maintain Eurodollar Rate Loans or the obligation of
the Swing Line Lender to make or maintain Swing Line Loans, as the case may be,
shall be suspended until the Administrative Agent (upon the instruction of the
Required Lenders or the Swing Lien Lender, as the case may be) revokes such
notice. Upon receipt of such notice, the Borrower may revoke any pending request
for a Revolving Borrowing or Swing Line Borrowing, as the case may be, of,
conversion to or continuation of Eurodollar Rate Loans or, failing that, will be
deemed to have converted such request into a request for a Revolving Borrowing
of Base Rate Loans in the amount specified therein.

      3.04 INCREASED COST AND REDUCED RETURN; CAPITAL ADEQUACY; RESERVES ON
EURODOLLAR RATE LOANS.

      (a) If any Lender determines that as a result of the introduction of or
any change in or in the interpretation of any Law, or such Lender's compliance
therewith, there shall be any increase in the cost to such Lender of agreeing to
make or making, funding or maintaining Eurodollar Rate Loans or Swing Line Loans
or (as the case may be) issuing or participating in Letters of Credit or Swing
Line Loans, or a reduction in the amount received or receivable by such Lender
in connection with any of the foregoing (excluding for purposes of this
subsection (a) any such increased costs or reduction in amount resulting from
(i) Taxes or Other Taxes (as to which Section 3.01 shall govern), (ii) changes
in the basis of taxation of overall net income or overall gross income by the
United States or any foreign jurisdiction or any political subdivision of either
thereof under the Laws of which such Lender is organized or has its Lending
Office, and (iii) reserve requirements contemplated by Section 3.04(c)), then
from time to time upon demand of such Lender (with a copy of such demand to the
Administrative Agent), the Borrower shall pay to such Lender such additional
amounts as will compensate such Lender for such increased cost or reduction.

      (b) If any Lender determines that the introduction of any Law regarding
capital adequacy or any change therein or in the interpretation thereof, or
compliance by such Lender (or its Lending Office) therewith, has the effect of
reducing the rate of return on the capital of such Lender or any corporation
controlling such Lender as a consequence of such Lender's obligations hereunder
(taking into consideration its policies with respect to capital adequacy and
such Lender's desired return on capital), then from time to time upon demand of
such Lender (with a copy of such demand to the Administrative Agent), the
Borrower shall pay to such Lender such additional amounts as will compensate
such Lender for such reduction.

      (c) The Borrower shall pay to each Lender, as long as such Lender shall be
required to maintain reserves with respect to liabilities or assets consisting
of or including Eurocurrency funds or deposits (currently known as "Eurocurrency
Liabilities"), additional interest on the unpaid principal amount of each
Eurodollar Rate Loan or Swing Line Loan equal to the actual costs of such
reserves allocated to such Revolving Loan or Swing Line Loan by such Lender (as
determined by such Lender in good faith, which determination shall be
conclusive), which shall

                                       45
<PAGE>

be due and payable on each date on which interest is payable on such Revolving
Loan or Swing Line Loan, provided the Borrower shall have received at least 15
days' prior notice (with a copy to the Administrative Agent) of such additional
interest from such Lender. If a Lender fails to give notice 15 days prior to the
relevant Interest Payment Date, such additional interest shall be due and
payable 15 days from receipt of such notice.

      3.05 FUNDING LOSSES. Upon demand of any Lender (with a copy to the
Administrative Agent) from time to time, setting forth in reasonable detail the
amount payable to such Lender, the Borrower shall promptly compensate such
Lender for and hold such Lender harmless from any loss, cost or expense incurred
by it as a result of:

      (a) any continuation, conversion, payment or prepayment of any Revolving
Loan other than a Base Rate Loan on a day other than the last day of the
Interest Period for such Revolving Loan (whether voluntary, mandatory,
automatic, by reason of acceleration, or otherwise);

      (b) any failure by the Borrower (for a reason other than the failure of
such Lender to make a Loan) to prepay, borrow, continue or convert any Revolving
Loan other than a Base Rate Loan on the date or in the amount notified by the
Borrower; or

      (c) any assignment of a Eurodollar Rate Loan on a day other than the last
day of the Interest Period therefor as a result of a request by the Borrower
pursuant to Section 10.16;

including any loss or expense arising from the liquidation or reemployment of
funds obtained by it to maintain such Revolving Loan or from fees payable to
terminate the deposits from which such funds were obtained. The Borrower shall
also pay any customary administrative fees charged by such Lender in connection
with the foregoing.

      For purposes of calculating amounts payable by the Borrower to the Lenders
under this Section 3.05, each Lender shall be deemed to have funded each
Eurodollar Rate Loan made by it at the Eurodollar Rate for such Revolving Loan
by a matching deposit or other Revolving Borrowing in the London interbank
eurodollar market for a comparable amount and for a comparable period, whether
or not such Eurodollar Rate Loan was in fact so funded.

      3.06 MATTERS APPLICABLE TO ALL REQUESTS FOR COMPENSATION.

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

      (b) Upon any Lender's making a claim for compensation under Section 3.01
or 3.04, the Borrower may replace such Lender in accordance with Section 10.16.

      3.07 LIMITATION ON COMPENSATION. Notwithstanding anything to the contrary
in this Article III, the Borrower shall not be required to compensate the
Administrative Agent or any Lender (as applicable) under Section 3.01 for Taxes
or Other Taxes, under Section 3.04(a) for

                                       46
<PAGE>

any increased cost or reduction described therein, under Section 3.04(b) for any
reduction described therein, or under Section 3.05 for any loss, cost or expense
described therein, if such Taxes, Other Taxes, increased cost, reduction, loss,
cost or expense, as applicable, shall have been incurred more than 270 days
prior to the date that the Administrative Agent or such Lender (as applicable)
delivers the demand described in the applicable Section; provided, however, to
the extent that any such costs are imposed retroactively, the Administrative
Agent and the Lenders shall be entitled to recover such costs from the date such
costs were retroactively imposed, provided that a request for reimbursement of
such costs is provided to the Borrower within 270 days of the Administrative
Agent and the Lenders becoming aware of such retroactive costs.

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

                                   ARTICLE IV
                    CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

      4.01 CONDITIONS OF INITIAL CREDIT EXTENSION. The obligation of each Lender
to make its initial Credit Extension hereunder is subject to satisfaction of the
following conditions precedent in form and substance satisfactory to the
Administrative Agent:

      (a) The Administrative Agent's receipt of the following, each of which
shall be originals or facsimiles (followed promptly by originals) unless
otherwise specified, each properly executed by a Responsible Officer of the
Borrower, each dated the Closing Date (or, in the case of certificates of
governmental officials, a recent date before the Closing Date) and each in form
and substance satisfactory to the Administrative Agent and its legal counsel:

            (i) executed counterparts of this Agreement, sufficient in number
      for distribution to the Administrative Agent, each Lender and the
      Borrower;

            (ii) a Revolving Loan Note executed by the Borrower in favor of each
      Lender requesting a Revolving Loan Note;

            (iii) the duly executed Swing Line Note payable to the order of the
      Swing Line Lender in the amount of the Swing Line Sublimit;

            (iv) such certificates of resolutions or other action, incumbency
      certificates and/or other certificates of Responsible Officers of the
      Borrower as the Administrative Agent may require evidencing the identity,
      authority and capacity of each such Responsible Officer authorized to act
      as a Responsible Officer in connection with this Agreement and the other
      Loan Documents to which the Borrower is a party;

            (v) such documents and certifications as the Administrative Agent
      may reasonably require to evidence that the Borrower is duly organized or
      formed, and that the Borrower and each Material Subsidiary is validly
      existing and in good standing in its state of incorporation and/or
      domicile;

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<PAGE>

            (vi) a favorable opinion of counsel to the Borrower, addressed to
      the Administrative Agent and each Lender, as to matters concerning the
      Borrower and the Loan Documents as the Required Lenders may reasonably
      request;

            (vii) a favorable opinion of David M. Sudbury, Esq., in-house
      counsel to the Borrower, addressed to the Administrative Agent and each
      Lender, as to matters concerning the Borrower and the Loan Documents as
      the Required Lenders may reasonably request;

            (viii) a certificate of a Responsible Officer of the Borrower either
      (A) attaching copies of all consents, licenses and approvals required in
      connection with the execution, delivery and performance by the Borrower
      and the validity against the Borrower of the Loan Documents to which it is
      a party, and such consents, licenses and approvals shall be in full force
      and effect, or (B) stating that no such consents, licenses or approvals
      are so required;

            (ix) a certificate signed by a Responsible Officer of the Borrower
      certifying (A) that the conditions specified in Section 4.02(a) have been
      satisfied; and (B) that, as of the Closing Date, there has been no event
      or circumstance since the date of the Audited Financial Statements that
      has had or would be reasonably expected to have, either individually or in
      the aggregate, a Material Adverse Effect; and (C) the current Debt
      Ratings; and

            (x) such other assurances, certificates, documents, consents or
      opinions as the Administrative Agent, the L/C Issuers or the Required
      Lenders reasonably may require.

      (b) Any fees required to be paid on or before the Closing Date shall have
been paid, including any accrued fees pursuant to the Existing Credit Agreement.

      (c) Unless waived by the Administrative Agent, the Borrower shall have
paid all Attorney Costs of the Administrative Agent to the extent invoiced prior
to or on the Closing Date, plus such additional amounts of Attorney Costs as
shall constitute its reasonable estimate of Attorney Costs incurred or to be
incurred by it through the closing proceedings (provided that such estimate
shall not thereafter preclude a final settling of accounts between the Borrower
and the Administrative Agent).

      (d) The Closing Date shall have occurred on or before May 31, 2005.

      4.02 CONDITIONS TO ALL CREDIT EXTENSIONS. The obligation of each Lender to
honor any Request for Credit Extension (other than a Revolving Loan Notice
requesting only a conversion of Revolving Loans to the other Type, or a
continuation of Eurodollar Rate Loans) is subject to the following conditions
precedent:

      (a) The representations and warranties of the Borrower contained in
Article V or any other Loan Document, or which are contained in any document
furnished at any time under or in connection herewith or therewith, shall be
true and correct on and as of the date of such Credit Extension, except to the
extent that such representations and warranties specifically refer to an earlier
date, in which case they shall be true and correct as of such earlier date, and
except that

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<PAGE>

for purposes of this Section 4.02, (i) the representations and warranties
contained in subsections (a) and (b) of Section 5.06 shall be deemed to refer to
the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 6.01, and (ii) except as set forth in the following
clause (d), the representations and warranties contained in Sections 5.06(c) and
5.07(a) shall not be deemed to be made for purposes of this Section 4.02 for any
Credit Extension.

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

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

      (d) The representations and warranties contained in Sections 5.06(c) and
5.07(a) were true and correct on the Closing Date.

      Each Request for Credit Extension (other than a Revolving Loan Notice
requesting only a conversion of Revolving Loans to the other Type or a
continuation of Eurodollar Rate Loans) submitted by the Borrower shall be deemed
to be a representation and warranty that the conditions specified in Sections
4.02(a) and (b) have been satisfied on and as of the date of the applicable
Credit Extension.

                                    ARTICLE V
                         REPRESENTATIONS AND WARRANTIES

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

      5.01 SUBSIDIARIES. Each of the Borrower's Subsidiaries as of the Closing
Date is set forth on Schedule 5.01, along with its jurisdiction of formation and
the percentage of its Voting Shares owned by the Borrower and/or its
Subsidiaries. Each of the Borrower and its Subsidiaries has good and marketable
title to all of the shares or interests it purports to own of the Capital Stock
of each Subsidiary (or each other Subsidiary, as applicable), free and clear in
each case of any Lien, other than Permitted Liens. All such shares or interests
have been duly issued and are fully paid and non-assessable.

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

      5.03 AUTHORIZATION; NO CONTRAVENTION. The execution, delivery and
performance by the Borrower of each Loan Document to which it is party, have
been duly authorized by all

                                       49
<PAGE>

necessary corporate or other organizational action, and do not and will not (a)
contravene the terms of any of the Borrower's Organization Documents; (b)
conflict with or result in any breach or contravention of, or the creation of
any Lien under, (i) any Contractual Obligation to which the Borrower is a party
or (ii) any order, injunction, writ or decree of any Governmental Authority or
any arbitral award to which the Borrower or its property is subject; or (c)
violate any Law except, in the case of the preceding clause (b), to the extent
that any such conflict, breach, contravention or creation would not reasonably
be expected to have a Material Adverse Effect.

      5.04 GOVERNMENTAL AUTHORIZATION; OTHER CONSENTS. No approval, consent,
exemption, authorization, or other action by, or notice to, or filing with, any
Governmental Authority or any other Person is necessary or required in
connection with the execution, delivery or performance by, or enforcement
against, the Borrower of this Agreement or any other Loan Document.

      5.05 BINDING EFFECT. This Agreement has been, and each other Loan Document
to which the Borrower is a party, when delivered hereunder, will have been, duly
executed and delivered by the Borrower. This Agreement constitutes, and each
other Loan Document to which the Borrower is a party when so delivered will
constitute, a legal, valid and binding obligation of the Borrower, enforceable
against the Borrower in accordance with its terms, except as enforceability may
be limited by Debtor Relief Laws.

      5.06 FINANCIAL STATEMENTS; NO MATERIAL ADVERSE EFFECT.

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

      (b) The unaudited consolidated balance sheet of the Borrower and its
consolidated Subsidiaries dated February 28, 2005, and the related consolidated
statements of income or operations, shareholders' equity and cash flows for the
fiscal quarter ended on that date (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein, and (ii) fairly present the financial condition of the
Borrower and its consolidated Subsidiaries as of the date thereof and their
results of operations for the period covered thereby, subject, in the case of
clauses (i) and (ii), to the absence of footnotes and to normal year-end audit
adjustments. Schedule 5.06 sets forth all material indebtedness and other
material liabilities, direct or contingent, of the Borrower and its consolidated
Subsidiaries in excess of $25,000,000 in the aggregate not reflected on the
February 28, 2005 financial statements referred to above, incurred after the
date of such financial statements but prior to the Closing Date, including
liabilities for material commitments and Indebtedness in excess of $25,000,000
in the aggregate.

                                       50
<PAGE>

      (c) Since the date of the Audited Financial Statements, there has been no
event or circumstance (including, without limitation, an Internal Control
Event), either individually or in the aggregate, that has had or would
reasonably be expected to have a Material Adverse Effect.

      5.07 LITIGATION.

      (a) Except as set forth in (i) the Borrower's Form 10K for the period
ended August 31, 2004 filed with the SEC, and (ii) the Borrower's Form 10Q for
each of the periods ending November 30, 2004, and February 28, 2005 filed with
the SEC there are no proceedings, claims or disputes pending or, to the actual
knowledge of the Borrower, threatened or contemplated, at Law, in equity, in
arbitration or before any Governmental Authority, by or against the Borrower or
any of its Material Subsidiaries or against any of their respective properties
or revenues that individually or in the aggregate, if determined adversely,
would reasonably be expected to have a Material Adverse Effect.

      (b) There are no proceedings, claims or disputes pending or, to the actual
knowledge of the Borrower, threatened or contemplated, at Law, in equity, in
arbitration or before any Governmental Authority, by or against the Borrower or
any of its Material Subsidiaries or against any of their respective properties
or revenues that purport to pertain to this Agreement or any other Loan
Document, or any of the transactions contemplated hereby.

      5.08 NO DEFAULT. Neither the Borrower nor any Material Subsidiary is in
default under or with respect to any Contractual Obligation that would, either
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. No Default has occurred and is continuing or would result from
the consummation of the transactions contemplated by this Agreement or any other
Loan Document.

      5.09 OWNERSHIP OF PROPERTY; LIENS. Each of the Borrower and its Material
Subsidiaries has good record and indefeasible title to, or valid leasehold
interests in, all real property necessary or used in the ordinary conduct of its
business, except for such defects in title as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. The
property of the Borrower and its Material Subsidiaries is subject to no Liens,
other than Permitted Liens.

      5.10 ENVIRONMENTAL COMPLIANCE. The Borrower and its Material Subsidiaries
have complied with all Environmental Laws except for any Environmental Liability
as a result of any non-compliance therewith which would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.

      5.11 INSURANCE. The properties of the Borrower and its Material
Subsidiaries are insured with financially sound and reputable insurance
companies not Affiliates of the Borrower, in such amounts, with such deductibles
and covering such risks as are customarily carried by companies of similar size
engaged in similar businesses and owning similar properties in localities where
the Borrower or the applicable Subsidiary operates, except to the extent failure
to maintain any such insurance would not reasonably be expect to result in a
Material Adverse Effect.

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<PAGE>

      5.12 TAXES. The Borrower and its Material Subsidiaries have filed all
Federal, state and other material tax returns and reports required to be filed,
and have paid all Federal, state and other material taxes, assessments, fees and
other governmental charges levied or imposed upon them or their properties,
income or assets otherwise due and payable, except those which are being
contested in good faith by appropriate proceedings diligently conducted and for
which adequate reserves have been provided in accordance with GAAP. There is no
proposed tax assessment against the Borrower or any Material Subsidiary that
would, if made, have a Material Adverse Effect. The Federal income tax
liabilities of the Borrower and its Subsidiaries have been determined by the
Internal Revenue Service and paid for all fiscal years up to and including the
fiscal year ended August 31, 1999.

      5.13 ERISA COMPLIANCE.

      (a) Each Plan is in compliance in all material respects with the
applicable provisions of ERISA, the Code and other Federal or state Laws. Each
Plan that is intended to qualify under Section 401(a) of the Code has received a
favorable determination letter from the IRS or an application for such a letter
is currently being processed by the IRS with respect thereto and, to the best
knowledge of the Borrower, nothing has occurred which would prevent, or cause
the loss of, such qualification. The Borrower and each ERISA Affiliate have made
all required contributions to each Plan subject to Section 412 of the Code, and
no application for a funding waiver or an extension of any amortization period
pursuant to Section 412 of the Code has been made with respect to any Plan.

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

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

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<PAGE>

      5.14 MARGIN REGULATIONS; INVESTMENT COMPANY ACT; PUBLIC UTILITY HOLDING
COMPANY ACT.

      (a) The Borrower is not engaged and will not engage, principally in the
business of purchasing or carrying margin stock (within the meaning of
Regulation U issued by the FRB), or extending credit for the purpose of
purchasing or carrying margin stock. Following the application of the proceeds
of each Revolving Borrowing or drawing under each Letter of Credit, not more
than 25% of the value of the assets (either of the Borrower only or of the
Borrower and its Subsidiaries on a consolidated basis) subject to the provisions
of Section 7.01 or Section 7.03 or subject to any restriction contained in any
agreement or instrument between the Borrower and any Lender or any Affiliate of
any Lender relating to Indebtedness and within the scope of Section 8.01(e) will
be margin stock.

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

      5.15 DISCLOSURE. The Borrower has disclosed to the Administrative Agent
and the Lenders all agreements, instruments and corporate or other restrictions
actually known to the Borrower to which it or any of its Subsidiaries is
subject, and all other matters actually known to it, that would reasonably be
expected to result in a Material Adverse Effect. No report, financial statement,
certificate or other information furnished in writing by or on behalf of the
Borrower to the Administrative Agent or any Lender in connection with the
transactions contemplated hereby and the negotiation of this Agreement or
delivered hereunder (as modified or supplemented by other written information so
furnished) contains any material misstatement of fact or omits to state any
material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided that, with
respect to projected financial information, the Borrower represents only that
such information was prepared in good faith based upon assumptions believed to
be reasonable at the time.

      5.16 COMPLIANCE WITH LAWS. Each of the Borrower and its Material
Subsidiaries is in compliance in all material respects with the requirements of
all Laws and all orders, writs, injunctions and decrees applicable to it or to
its properties, except in such instances in which (a) such requirement of Law or
order, writ, injunction or decree is being contested in good faith by
appropriate proceedings diligently conducted or (b) the failure to comply
therewith, either individually or in the aggregate, would not reasonably be
expected to have a Material Adverse Effect.

      5.17 SOLVENT. The Borrower is, and the Borrower and its Subsidiaries are
on a consolidated basis, Solvent.

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<PAGE>

                                   ARTICLE VI
                              AFFIRMATIVE COVENANTS

      So long as any Lender shall have any Commitment hereunder, any Revolving
Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any
Letter of Credit shall remain outstanding, the Borrower shall, and shall (except
in the case of the covenants set forth in Sections 6.01, 6.02, 6.03 and 6.11)
cause each Material Subsidiary to:

      6.01 FINANCIAL STATEMENTS. Deliver to the Administrative Agent with
sufficient copies for each Lender, in form and detail satisfactory to the
Administrative Agent and the Required Lenders:

      (a) as soon as available and in any event within 5 days after the date
that annual financial statements are required to be filed with the SEC, but in
no event later than 100 days after the close of each fiscal year, copies of:

            (i) consolidated and consolidating (by business segment) balance
      sheets of the Borrower and its consolidated Subsidiaries as of the close
      of such fiscal year;

            (ii) consolidated and consolidating (by business segment) statements
      of income and retained earnings of the Borrower and its consolidated
      Subsidiaries for such fiscal year; and

            (iii) consolidated statements of cash flows of the Borrower and its
      consolidated Subsidiaries for such fiscal year,

in each case setting forth in comparative form the consolidated figures for the
preceding fiscal year, and the Borrower further agrees to provide with such
financial statements information (by business segment) as to the amount charged
to amortization and depreciation expense, interest expense, rental expense and
capital spending for such fiscal year and the unamortized balance of goodwill as
of the end of such fiscal year, all in reasonable detail and accompanied by (A)
an unqualified opinion thereon of a Registered Public Accounting Firm of
recognized national standing to the effect that the consolidated financial
statements present fairly, in all material respects, the consolidated financial
position of the Borrower and its consolidated Subsidiaries as of the end of the
fiscal year being reported on and the consolidated results of the operations and
cash flows for said year in conformity with GAAP and applicable Securities Laws,
without expressing a doubt as to the ability of the Borrower to continue as a
going concern or like qualification or exception or any qualification or
exception as to the scope of such audit, and that the examination of such
accountants in connection with such financial statements has been conducted in
accordance with generally accepted auditing standards and included such tests of
the accounting records and such other auditing procedures as said accountants
deemed necessary in the circumstances and (B) an attestation report of such
Registered Public Accounting Firm as to the Borrower's internal controls
pursuant to Section 404 of Sarbanes-Oxley;

      (b) as soon as available and in any event within 5 days after the date
that quarterly financial statements are required to be filed with the SEC
(excluding the last quarterly fiscal period of each fiscal year), but in no
event later than 50 days after the end of each quarterly fiscal period (except
the last) of each fiscal year, copies of:

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<PAGE>

            (i) consolidated and consolidating (by business segment) balance
      sheets of the Borrower and its consolidated Subsidiaries as of the close
      of such quarterly fiscal period, setting forth in comparative form the
      consolidated figures for the corresponding period of the preceding fiscal
      year;

            (ii) consolidated and consolidating (by business segment) statements
      of income of the Borrower and its consolidated Subsidiaries for the
      portion of the fiscal year ending with such quarterly fiscal period, in
      each case setting forth in comparative form the consolidated figures for
      the corresponding periods of the preceding fiscal year; and

            (iii) consolidated statements of cash flows of the Borrower and its
      consolidated Subsidiaries for the portion of the fiscal year ending with
      such quarterly fiscal period, setting forth in comparative form the
      consolidated figures for the corresponding period of the preceding fiscal
      year,

all in reasonable detail and certified as complete and correct by an authorized
financial officer of the Borrower and the Borrower further agrees to provide
with such financial statements information (by business segment) as to the
amount charged to amortization and depreciation expense, interest expense,
rental expense and net capital spending, in each case for the periods indicated
above and the unamortized balance of goodwill as at the end of the periods
indicated above.

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

      6.02 CERTIFICATES; OTHER INFORMATION. Deliver to the Administrative Agent,
in form and detail satisfactory to the Administrative Agent and the Required
Lenders:

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

      (b) promptly after any request by the Administrative Agent or any Lender,
copies of any detailed audit reports of the Borrower by independent accountants
in connection with the accounts or books of the Borrower or any Subsidiary, or
any audit of any of them;

      (c) promptly after the same are available, copies of each (i) annual
report, proxy or financial statement or, at the Administrative Agent's request,
copies of each other report or communication sent to the stockholders of the
Borrower, and copies of all annual, regular, periodic and special reports
(including Forms 10K, 10Q and 8K) and registration statements which the Borrower
may file or be required to file with the SEC under Section 13 or 15(d) of the
Exchange Act, and not otherwise required to be delivered to the Administrative
Agent pursuant hereto and (ii) without duplication, copies of any certifications
or affidavits required by the SEC in connection with the filing of Forms 10K,
10Q and 8K; and

                                       55
<PAGE>

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

      Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(c) (to the extent any such documents are included in materials
otherwise filed with the SEC) may be delivered electronically and if so
delivered, shall be deemed to have been delivered on the date (i) on which the
Borrower posts such documents, or provides a link thereto on the Borrower's
website on the Internet at the website address listed on Schedule 10.02; or (ii)
on which such documents are posted on the Borrower's behalf on
IntraLinks/IntraAgency or another relevant website, if any, to which each Lender
and the Administrative Agent have access (whether a commercial, third-party
website or whether sponsored by the Administrative Agent); provided that: (i)
the Borrower shall deliver paper copies of such documents to the Administrative
Agent for any Lender that requests the Borrower to deliver such paper copies
until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) the Borrower shall notify (which
may be by facsimile or electronic mail) the Administrative Agent and each Lender
of the posting of any such documents and provide to the Administrative Agent by
electronic mail electronic versions (i.e., soft copies) of such documents.
Notwithstanding anything contained herein, in every instance the Borrower shall
be required to provide paper copies of the Compliance Certificates required by
Section 6.02(a) to the Administrative Agent and each of the Lenders. Except for
such Compliance Certificates, the Administrative Agent shall have no obligation
to request the delivery or to maintain copies of the documents referred to
above, and in any event shall have no responsibility to monitor compliance by
the Borrower with any such request for delivery, and each Lender shall be solely
responsible for requesting delivery to it or maintaining its copies of such
documents.

      The Borrower hereby acknowledges that (a) the Administrative Agent and/or
the Arranger will make available to the Lenders and the L/C Issuer materials
and/or information provided by or on behalf of the Borrower hereunder
(collectively, "Borrower Materials") by posting the Borrower Materials on
IntraLinks or another similar electronic system (the "Platform") and (b) certain
of the Lenders may be "public-side" Lenders (i.e., Lenders that do not wish to
receive material non-public information with respect to the Borrower or its
securities) (each a "Public Lender"). The Borrower hereby agrees that so long as
the Borrower is the issuer of any outstanding debt or equity securities that are
registered or issued pursuant to a private offering or is actively contemplating
issuing any such securities (w) all Borrower Materials that are to be made
available to Public Lenders shall be clearly and conspicuously marked "PUBLIC"
which, at a minimum, shall mean that the word "PUBLIC" shall appear prominently
on the first page thereof; (x) by marking Borrower Materials "PUBLIC," the
Borrower shall be deemed to have authorized the Administrative Agent, the
Arranger, the L/C Issuer and the Lenders to treat such Borrower Materials as not
containing any material non-public information with respect to the Borrower or
its securities for purposes of United States Federal and state securities laws
(provided, however, that to the extent such Borrower Materials constitute
confidential information, they shall be treated as set forth in Section 11.15);
(y) all Borrower Materials marked "PUBLIC" are permitted to be made available
through a portion of the Platform designated "Public Investor;" and (z) the
Administrative Agent and the Arranger shall be entitled to treat any Borrower
Materials that are not marked "PUBLIC" as being suitable only for posting

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on a portion of the Platform not designated "Public Investor." Notwithstanding
the foregoing, the Borrower shall be under no obligation to mark any Borrower
Materials "PUBLIC."

      6.03 NOTICES. Promptly notify the Administrative Agent:

      (a) of the occurrence of any Default;

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

      (c) of the occurrence of any ERISA Event; or

      (d) of any announcement by Moody's or S&P of any change in a Debt Rating.

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

      6.04 PAYMENT OF OBLIGATIONS. Pay and discharge as the same shall become
due and payable, all its material obligations and liabilities, including (a) all
material tax liabilities, assessments and governmental charges or levies upon it
or its properties or assets, unless the same are being contested in good faith
by appropriate proceedings diligently conducted and adequate reserves in
accordance with GAAP are being maintained by the Borrower or such Material
Subsidiary; (b) all lawful claims which, if unpaid, would by Law become a Lien
upon its property, unless the same are being contested in good faith by
appropriate proceedings diligently conducted and adequate reserves in accordance
with GAAP are being maintained by the Borrower or such Material Subsidiary; and
(c) all Indebtedness with a principal obligation of not less than $10,000,000,
as and when due and payable, but subject to any subordination provisions
contained in any instrument or agreement evidencing such Indebtedness.

      6.05 PRESERVATION OF EXISTENCE, ETC. (a) Preserve, renew and maintain in
full force and effect its legal existence and good standing under the Laws of
the jurisdiction of its organization except in a transaction permitted by
Section 7.02 or 7.03; (b) take all reasonable action to maintain all rights,
privileges, permits, licenses and franchises necessary or desirable in the
normal conduct of its business, except to the extent that failure to do so would
not reasonably be expected to have a Material Adverse Effect; and (c) preserve
or renew all of its registered patents, trademarks, trade names and service
marks, the non-preservation of which would reasonably be expected to have a
Material Adverse Effect.

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      6.06 MAINTENANCE OF PROPERTIES. (a) Maintain, preserve and protect all of
its material properties and equipment used in the operation of its business in
good working order and condition, ordinary wear and tear excepted and except in
connection with transactions permitted by Section 7.04; and (b) make all
necessary repairs thereto and renewals and replacements thereof except where the
failure to do so would not reasonably be expected to have a Material Adverse
Effect.

      6.07 MAINTENANCE OF INSURANCE. Maintain with financially sound and
reputable insurance companies not Affiliates of the Borrower, insurance with
respect to its properties and business against loss or damage of the kinds
customarily insured against by Persons engaged in the same or similar business,
of such types and in such amounts as are customarily carried under similar
circumstances by such other Persons.

      6.08 COMPLIANCE WITH LAWS. Comply in all material respects with the
requirements of all Laws and all orders, writs, injunctions and decrees
applicable to it or to its business or property, except in such instances in
which (a) such requirement of Law or order, write, injunction or decree is being
contested in good faith by appropriate proceedings diligently conducted; or (b)
the failure to comply therewith would not reasonably be expected to have a
Material Adverse Effect.

      6.09 BOOKS AND RECORDS. (a) Maintain proper books of record and account,
in which full, true and correct entries in conformity with GAAP, consistently
applied shall be made of all financial transactions and matters involving the
assets and business of the Borrower or such Material Subsidiary, as the case may
be; and (b) maintain such books of record and account in material conformity
with all applicable requirements of any Governmental Authority having regulatory
jurisdiction over the Borrower or such Material Subsidiary, as the case may be.

      6.10 INSPECTION RIGHTS. Permit representatives and independent contractors
of the Administrative Agent, on behalf of Lenders, to visit and inspect any of
its properties, to examine its corporate, financial and operating records, and
make copies thereof or abstracts therefrom, and to discuss its affairs, finances
and accounts with its officers and independent public accountants, in each case
as reasonably necessary, and all at such reasonable times during normal business
hours and as often as may be reasonably desired, upon reasonable advance notice
(which notice shall include the subject matter of the proposed inspection,
examination or discussion) to the Borrower; provided, however, that when an
Event of Default exists the Administrative Agent or any Lender (or any of their
respective representatives or independent contractors) may do any of the
foregoing at the expense of the Borrower at any time during normal business
hours upon no less than two days advance notice.

      6.11 USE OF PROCEEDS. Use the proceeds of the Credit Extensions for
general corporate purposes not in contravention of any Law or of any Loan
Document.

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                                   ARTICLE VII
                               NEGATIVE COVENANTS

      So long as any Lender shall have any Commitment hereunder, any Revolving
Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any
Letter of Credit shall remain outstanding:

      7.01 LIENS. The Borrower shall not, nor shall it permit any Subsidiary to,
directly or indirectly, create, incur, assume or suffer to exist any Lien upon
any of its property, assets or revenues, whether now owned or hereafter
acquired, other than the following ("Permitted Liens"):

      (a) Liens for property taxes and assessments or governmental charges or
levies and Liens securing claims or demands of mechanics and materialmen, if
payment thereof is not at the time required by Section 6.04;

      (b) Liens of or resulting from any judgment or award, the time for the
appeal or petition for rehearing of which shall not have expired, or in respect
of which the Borrower or a Subsidiary shall at any time in good faith be
prosecuting an appeal or proceeding for a review and in respect of which a stay
of execution pending such appeal or proceeding for review shall have been
secured or which are covered by insurance and which are removed within 60 days
after attachment; provided the aggregate amount of such judgments and awards
shall not exceed $10,000,000;

      (c) Liens incidental to the conduct of business or the ownership of
properties and assets (including Liens in connection with worker's compensation,
unemployment insurance and other like laws, warehousemen's and attorneys' liens
and statutory landlords' liens, but excluding any Lien imposed by ERISA) and
Liens to secure the performance of bids, tenders or trade contracts, or to
secure statutory obligations, surety or appeal bonds or other Liens of like
general nature incurred in the ordinary course of business and not in connection
with the borrowing of money, if in each case, the obligation secured is not
overdue or, if overdue, is being contested in good faith by appropriate actions
or proceedings;

      (d) Liens securing Indebtedness of a Subsidiary to the Borrower or to a
Material Domestic Subsidiary;

      (e) Liens existing as of the Closing Date and reflected in Schedule 7.01
and any extension, renewal or replacement of such liens in connection with the
extension, renewal or refunding of the Indebtedness secured thereby, provided
(i) the principal amount of such Indebtedness is not increased, other than
through the capitalization of accrued interest, and (ii) such extension, renewal
or replacement shall be limited to all or any part of the same property that
secured the Lien extended, renewed or replaced (together with improvements on
such property);

      (f) Liens incurred after the Closing Date given to secure the payment of
the purchase price incurred in connection with the acquisition, alteration or
improvement of fixed assets useful and intended to be used in carrying on the
business of the Borrower or a Subsidiary (and any renewals or extensions of any
Indebtedness so secured), including Liens existing on such fixed

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<PAGE>

assets at the time of acquisition thereof or at the time of acquisition by the
Borrower or a Subsidiary of any business entity then owning such fixed assets,
whether or not such existing Liens were given to secure the payment of the
purchase price of the fixed assets to which they attach so long as they were not
incurred, extended or renewed in contemplation of such acquisition, provided (i)
the Lien shall attach solely to the fixed assets acquired, altered or improved
and (ii) at the time of acquisition, alteration or improvement of such fixed
assets, the aggregate amount remaining unpaid on all Indebtedness secured by
Liens on such fixed assets whether or not assumed by the Borrower or a
Subsidiary shall not exceed an amount equal to the lesser of the total cost of
such acquisition, alteration or improvement or fair market value at the time of
acquisition, alteration or improvement of such fixed assets (as determined in
good faith by the Board of Directors of the Borrower);

      (g) Liens in connection with the securitizations permitted pursuant to
Section 7.03(e) of this Agreement;

      (h) Liens on the assets of CMC Zawiercie S.A., a Polish joint stock
company, in an amount not to exceed $125,000,000 in the aggregate, provided that
such Liens are non-recourse to the Borrower and its other Subsidiaries; and

      (i) Liens in addition to those permitted by the foregoing clauses (a)
through (h) created after the Closing Date, provided at the time of the creation
of any such Lien and after giving effect thereto and to the application of the
proceeds of any Indebtedness secured thereby, the aggregate amount of all
Indebtedness secured by such Liens does not exceed 15% of Consolidated Tangible
Net Worth.

      7.02 MERGERS AND CONSOLIDATIONS. The Borrower shall not, and shall not
permit any Material Subsidiary to, consolidate with or be a party to a merger
with any other corporation; except:

            (a) any Material Domestic Subsidiary or any Solvent Subsidiary may
      merge or consolidate with or into the Borrower or any Material Domestic
      Subsidiary, so long as in any merger or consolidation involving the
      Borrower, the Borrower shall be the surviving or continuing corporation
      and any merger or consolidation involving a Subsidiary that is not a
      Material Domestic Subsidiary, the Borrower or the Material Domestic
      Subsidiary shall be the surviving or continuing corporation; and

            (b) the Borrower may consolidate or merge with any other corporation
      provided (A) the Borrower shall be the surviving or continuing
      corporation, and (B) at the time of such consolidation or merger and after
      giving effect thereto no Default or Event of Default shall have occurred
      and be continuing.

      7.03 SALES OF ASSETS. The Borrower shall not, and shall not permit any
Material Subsidiary to make any Disposition, except:

            (a) Dispositions of obsolete or worn out property in the ordinary
      course of business;

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<PAGE>

            (b) Dispositions of inventory and Cash and Cash Equivalents in the
      ordinary course of business;

            (c) Dispositions among the Borrower and Material Domestic
      Subsidiaries;

            (d) Dispositions in which the Net Proceeds thereof are used within
      365 days of such Disposition to purchase assets useful in the business of
      the Borrower and its Material Subsidiaries;

            (e) Dispositions by the Borrower and the Securitizing Subsidiaries
      in respect of a securitization of accounts receivable, provided the
      aggregate funding in respect thereof shall not exceed $160,000,000 at any
      one time outstanding; and

            (f) Dispositions other than those otherwise specifically permitted
      pursuant to clauses (a) through (e) above, provided that the aggregate
      book value of assets Disposed of during any fiscal year may not exceed 30%
      of Consolidated Tangible Assets determined as of the last day of the
      immediately preceding fiscal year.

      Provided, however, notwithstanding anything above to the contrary, in no
event shall any Disposition be less than for full, fair and reasonable
consideration.

      7.04 CHANGE IN NATURE OF BUSINESS. The Borrower shall not, and shall not
permit any Subsidiary to, engage in any material line of business substantially
different from those lines of business conducted by the Borrower and its
Subsidiaries on the date hereof or any business substantially related or
incidental thereto.

      7.05 TRANSACTIONS WITH AFFILIATES. The Borrower shall not, and shall not
permit any Material Subsidiary to, enter into or be a party to any transaction
or arrangement with any Affiliate (including the purchase from, sale to or
exchange of property with, or the rendering of any service by or for, any
Affiliate), except in the ordinary course of, and pursuant to the reasonable
requirements of the Borrower's or such Material Subsidiary's business and upon
fair and reasonable terms no less favorable to the Borrower or such Material
Subsidiary than would obtain in a comparable arm's length transaction with a
Person other than an Affiliate; but the Borrower may make charitable
contributions to The Feldman Foundation, a private trust organized under the
laws of Texas and a not-for-profit entity under Section 510(c)(3) of the Code,
in an amount up to 5% of the Borrower's pre-tax profit in any fiscal year.

      7.06 BURDENSOME AGREEMENTS. The Borrower shall not, nor shall it permit
any Material Subsidiary to, enter into any Contractual Obligation (other than
this Agreement or any other Loan Document) that (a) limits the ability (i) of
any Material Subsidiary to declare or pay Dividends to the Borrower or to
otherwise transfer property to the Borrower, or (ii) of the Borrower or any
Subsidiary to create, incur, assume or suffer to exist Liens on property of such
Person; provided, however, that this clause (ii) shall not prohibit any negative
pledge or restriction on transfer incurred or provided in favor of any holder of
Indebtedness solely to the extent any such negative pledge or restriction on
transfer relates to the property financed by or the subject of such
Indebtedness; or (b) requires the grant of a Lien to secure an obligation of
such Person if a Lien is granted to secure another obligation of such Person.

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<PAGE>

      7.07 USE OF PROCEEDS. The Borrower shall not, nor shall it permit any
Subsidiary to, use the proceeds of any Credit Extension, whether directly or
indirectly, and whether immediately, incidentally or ultimately, to purchase or
carry margin stock (within the meaning of Regulation U of the FRB) or to extend
credit to others for the purpose of purchasing or carrying margin stock or to
refund indebtedness originally incurred for such purpose.

      7.08 INTEREST COVERAGE RATIO. The Borrower shall not permit the Interest
Coverage Ratio to be less than 2.50 to 1.00 at any time.

      7.09 DEBT TO CAPITALIZATION RATIO. The Borrower shall not permit the Debt
to Capitalization Ratio to be greater than 0.60 to 1.00 at any time.

      7.10 ERISA. The Borrower shall not, and shall not suffer or permit any of
its ERISA Affiliates to: (a) engage in a prohibited transaction or violation of
the fiduciary responsibility rules with respect to any Plan which has resulted
or would reasonably be expected to result in a Material Adverse Effect, (b)
engage in a transaction that could be subject to Section 4069 or 4212(c) of
ERISA or (c) withdraw from any Multiemployer Plan or permit any Plan maintained
by it to be terminated if such withdrawal or termination could result in
withdrawal liability (as described in Part 1 of Subtitle E of Title IV of ERISA)
or the imposition of a Lien on any property of the Borrower or any Subsidiary
pursuant to Section 4068 of ERISA.

      7.11 ACCOUNTING CHANGES. The Borrower shall not, and shall not suffer or
permit any Material Subsidiary to, make any significant change in accounting
treatment or reporting practices, except as required or permitted by GAAP or any
Governmental Authority, as applicable, or change the fiscal year of the Borrower
or of any Material Subsidiary.

      7.12 SPECULATIVE HEDGES. The Borrower will not, and will not permit any
Material Subsidiary to, enter into any interest rate protection agreement,
foreign currency exchange agreement, commodity price protection agreement or
other interest, currency exchange rate or commodity price hedging agreement
except those entered into with the intention to hedge or mitigate risks to which
the Borrower or such Material Subsidiary is exposed in the conduct of its
business or the management of its liabilities.

                                  ARTICLE VIII
                         EVENTS OF DEFAULT AND REMEDIES

      8.01 EVENTS OF DEFAULT. Any of the following shall constitute an Event of
Default:

      (a) Non-Payment. The Borrower fails to pay (i) when and as required to be
paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii)
the earlier of (A) five calendar days or (B) two Business Days after notice,
that the same becomes due, any interest on any Loan or on any L/C Obligation, or
any Facility Fee or any other fees or amounts due hereunder or under any other
Loan Document; or

      (b) Specific Covenants. The Borrower fails to perform or observe any term,
covenant or agreement contained in any of Section 6.03, 6.05, 6.10, or 6.11 or
Article VII; or

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<PAGE>

      (c) Other Defaults. The Borrower fails to perform or observe any other
covenant or agreement (not specified in subsection (a) or (b) above) contained
in any Loan Document on its part to be performed or observed and such failure
continues for 30 days after the earlier of (i) the date upon which a Responsible
Officer knew or reasonably should have known of such failure or (ii) the date
upon which written notice thereof is given to the Borrower by the Administrative
Agent or any Lender; or

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

      (e) Cross-Default. The Borrower or any Material Subsidiary (i) fails to
make any payment when due (whether by scheduled maturity, required prepayment,
acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee
(other than Indebtedness) having an aggregate principal amount (including
undrawn committed or available amounts and including amounts owing to all
creditors under any combined or syndicated credit arrangement) of more than
$10,000,000 and such failure continues after the applicable grace or notice
period, if any, specified in the relevant document on the date of such failure,
or (ii) fails to observe or perform any other agreement or condition relating to
any such Indebtedness or Guarantee or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event or condition
occurs, the effect of which default or other event or condition is to cause, or
to permit the holder or holders of such Indebtedness or the beneficiary or
beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder
or holders or beneficiary or beneficiaries) to cause, with the giving of notice
if required, such Indebtedness to be demanded or to become due or to be
repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an
offer to repurchase, prepay, defease or redeem such Indebtedness to be made,
prior to its stated maturity, or such Guarantee to become payable or cash
collateral in respect thereof to be demanded; or

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

      (g) Inability to Pay Debts; Attachment. (i) The Borrower or any Material
Subsidiary becomes unable or admits in writing its inability or fails generally
to pay its debts as they become due, subject to applicable grace periods, if
any, whether at stated maturity or otherwise, or (ii) any writ or warrant of
attachment or execution or similar process is issued or levied

                                       63
<PAGE>

against all or any material part of the property of any such Person and is not
released, vacated or fully bonded within 60 days after its issue or levy; or

      (h) Monetary Judgments. One or more non-interlocutory judgments,
non-interlocutory orders, decrees or arbitration awards is entered against the
Borrower or any Subsidiary involving in the aggregate a liability (to the extent
not covered by independent third-party insurance as to which the insurer does
not dispute coverage) as to any single or related series of transactions,
incidents or conditions, of $10,000,000 or more, and the same shall remain
unsatisfied, unvacated and unstayed pending appeal for a period of 30 days after
the entry thereof; or

      (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or
Multiemployer Plan which has resulted or would reasonably be expected to result
in liability of the Borrower under Title IV of ERISA to the Pension Plan,
Multiemployer Plan or the PBGC in an aggregate amount in excess of $10,000,000,
(ii) the aggregate amount of Unfunded Pension Liability among all Pension Plans
at any time exceeds $10,000,000; or (iii) the Borrower or any ERISA Affiliate
fails to pay when due, after the expiration of any applicable grace period, any
installment payment with respect to its withdrawal liability under Section 4201
of ERISA under a Multiemployer Plan in an aggregate amount in excess of
$10,000,000; or

      (j) Invalidity of Loan Documents. Any Loan Document, at any time after its
execution and delivery and for any reason other than as expressly permitted
hereunder or satisfaction in full of all the Obligations, ceases to be in full
force and effect; or the Borrower or any other Person contests in any manner the
validity or enforceability of any Loan Document; or the Borrower denies that it
has any or further liability or obligation under any Loan Document, or purports
to revoke, terminate or rescind any Loan Document; or

      (k) Change of Control. There occurs any Change of Control with respect to
the Borrower.

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

      (a) declare the commitment of each Lender to make Loans and any obligation
of an L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such
commitments and obligation shall be terminated;

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

      (c) require that the Borrower Cash Collateralize the L/C Obligations (in
an amount equal to the then Outstanding Amount thereof); and

      (d) exercise on behalf of itself and the Lenders all rights and remedies
available to it and the Lenders under the Loan Documents or Applicable Law;

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provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to the Borrower under the Bankruptcy Code of the
United States, the obligation of each Lender to make Loans and any obligation of
an L/C Issuer to make L/C Credit Extensions shall automatically terminate, the
unpaid principal amount of all outstanding Loans and all interest and other
amounts as aforesaid shall automatically become due and payable, and the
obligation of the Borrower to Cash Collateralize the L/C Obligations as
aforesaid shall automatically become effective, in each case without further act
of the Administrative Agent or any Lender.

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

      First, to payment of that portion of the Obligations constituting fees,
indemnities, expenses and other amounts (including fees, charges, Attorney Costs
and amounts payable under Article III) payable to the Administrative Agent in
its capacity as such;

      Second, to payment of that portion of the Obligations constituting fees,
indemnities and other amounts (other than principal, interest and Letter of
Credit Fees) payable to the Lenders (including fees, charges, Attorney Costs and
amounts payable under Article III), ratably among them in proportion to the
amounts described in this clause Second payable to them;

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

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

      Fifth, to the Administrative Agent for the account of the relevant L/C
Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the
aggregate undrawn amount of Letters of Credit; and

      Last, the balance, if any, after all of the Obligations have been
indefeasibly paid in full, to the Borrower or as otherwise required by Law.

Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate
undrawn amount of Letters of Credit pursuant to clause Fifth above shall be
applied to satisfy drawings under such Letters of Credit as they occur. If any
amount remains on deposit as Cash Collateral after all Letters of Credit have
either been fully drawn or expired, such remaining amount shall be applied to
the other Obligations, if any, in the order set forth above.

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                                   ARTICLE IX
                              ADMINISTRATIVE AGENT

      9.01 APPOINTMENT AND AUTHORITY.

      Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of
America to act on its behalf as the Administrative Agent hereunder and under the
other Loan Documents and authorizes the Administrative Agent to take such
actions on its behalf and to exercise such powers as are delegated to the
Administrative Agent by the terms hereof or thereof, together with such actions
and powers as are reasonably incidental thereto. The provisions of this Article
are solely for the benefit of the Administrative Agent, the Lenders and the L/C
Issuer, and the Borrower shall not have rights as a third party beneficiary of
any of such provisions (other than in respect of the consent right of the
Borrower set forth in Section 9.06).

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

      9.03 EXCULPATORY PROVISIONS. The Administrative Agent shall not have any
duties or obligations except those expressly set forth herein and in the other
Loan Documents. Without limiting the generality of the foregoing, the
Administrative Agent:

            (a) shall not be subject to any fiduciary or other implied duties,
      regardless of whether a Default has occurred and is continuing;

            (b) shall not have any duty to take any discretionary action or
      exercise any discretionary powers, except discretionary rights and powers
      expressly contemplated hereby or by the other Loan Documents that the
      Administrative Agent is required to exercise as directed in writing by the
      Required Lenders (or such other number or percentage of the Lenders as
      shall be expressly provided for herein or in the other Loan Documents),
      provided that the Administrative Agent shall not be required to take any
      action that, in its opinion or the opinion of its counsel, may expose the
      Administrative Agent to liability or that is contrary to any Loan Document
      or Applicable Law; and

            (c) shall not, except as expressly set forth herein and in the other
      Loan Documents, have any duty to disclose, and shall not be liable for the
      failure to disclose, any information relating to the Borrower or any of
      its Affiliates that is communicated to or obtained by the Person serving
      as the Administrative Agent or any of its Affiliates in any capacity.

      The Administrative Agent shall not be liable for any action taken or not
taken by it (i) with the consent or at the request of the Required Lenders (or
such other number or

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percentage of the Lenders as shall be necessary, or as the Administrative Agent
shall believe in good faith shall be necessary, under the circumstances as
provided in Sections 10.01 and 8.02) or (ii) in the absence of its own gross
negligence or willful misconduct. The Administrative Agent shall be deemed not
to have knowledge of any Default unless and until notice describing such Default
is given to the Administrative Agent by the Borrower, a Lender or the L/C
Issuer.

      The Administrative Agent shall not be responsible for or have any duty to
ascertain or inquire into (i) any statement, warranty or representation made in
or in connection with this Agreement or any other Loan Document, (ii) the
contents of any certificate, report or other document delivered hereunder or
thereunder or in connection herewith or therewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set
forth herein or therein or the occurrence of any Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan
Document or any other agreement, instrument or document or (v) the satisfaction
of any condition set forth in Article IV or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to the
Administrative Agent.

      9.04 RELIANCE BY ADMINISTRATIVE AGENT. The Administrative Agent shall be
entitled to rely upon, and shall not incur any liability for relying upon, any
notice, request, certificate, consent, statement, instrument, document or other
writing (including any electronic message, Internet or intranet website posting
or other distribution) believed by it to be genuine and to have been signed,
sent or otherwise authenticated by the proper Person. The Administrative Agent
also may rely upon any statement made to it orally or by telephone and believed
by it to have been made by the proper Person, and shall not incur any liability
for relying thereon. In determining compliance with any condition hereunder to
the making of a Loan, or the issuance of a Letter of Credit, that by its terms
must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the
Administrative Agent may presume that such condition is satisfactory to such
Lender or the L/C Issuer unless the Administrative Agent shall have received
notice to the contrary from such Lender or the L/C Issuer prior to the making of
such Loan or the issuance of such Letter of Credit. The Administrative Agent may
consult with legal counsel (who may be counsel for the Borrower), independent
accountants and other experts selected by it, and shall not be liable for any
action taken or not taken by it in accordance with the advice of any such
counsel, accountants or experts.

      9.05 DELEGATION OF DUTIES. The Administrative Agent may perform any and
all of its duties and exercise its rights and powers hereunder or under any
other Loan Document by or through any one or more sub-agents appointed by the
Administrative Agent. The Administrative Agent and any such sub-agent may
perform any and all of its duties and exercise its rights and powers by or
through their respective Related Parties. The exculpatory provisions of this
Article shall apply to any such sub-agent and to the Related Parties of the
Administrative Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facilities provided
for herein as well as activities as Administrative Agent.

      9.06 RESIGNATION OF ADMINISTRATIVE AGENT. The Administrative Agent may at
any time give notice of its resignation to the Lenders, the L/C Issuer and the
Borrower. Upon receipt of any such notice of resignation, the Required Lenders
shall have the right, with the consent of the Borrower so long as no Event of
Default has occurred and is continuing (such consent not to

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be unreasonably withheld or delayed), to appoint a successor, which shall be a
bank with an office in the United States, or an Affiliate of any such bank with
an office in the United States. If no such successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment
within 30 days after the retiring Administrative Agent gives notice of its
resignation, then the retiring Administrative Agent may on behalf of the Lenders
and the L/C Issuer, appoint a successor Administrative Agent meeting the
qualifications set forth above; provided that if the Administrative Agent shall
notify the Borrower and the Lenders that no qualifying Person has accepted such
appointment, then such resignation shall nonetheless become effective in
accordance with such notice and (1) the retiring Administrative Agent shall be
discharged from its duties and obligations hereunder and under the other Loan
Documents (except that in the case of any collateral security held by the
Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the
Loan Documents, the retiring Administrative Agent shall continue to hold such
collateral security until such time as a successor Administrative Agent is
appointed) and (2) all payments, communications and determinations provided to
be made by, to or through the Administrative Agent shall instead be made by or
to each Lender and the L/C Issuer directly, until such time as the Required
Lenders appoint a successor Administrative Agent as provided for above in this
Section. Upon the acceptance of a successor's appointment as Administrative
Agent hereunder, such successor shall succeed to and become vested with all of
the rights, powers, privileges and duties of the retiring (or retired)
Administrative Agent, and the retiring Administrative Agent shall be discharged
from all of its duties and obligations hereunder or under the other Loan
Documents (if not already discharged therefrom as provided above in this
Section). The fees payable by the Borrower to a successor Administrative Agent
shall be the same as those payable to its predecessor unless otherwise agreed
between the Borrower and such successor. After the retiring Administrative
Agent's resignation hereunder and under the other Loan Documents, the provisions
of this Article and Section 10.04 shall continue in effect for the benefit of
such retiring Administrative Agent, its sub-agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them
while the retiring Administrative Agent was acting as Administrative Agent.

      Any resignation by Bank of America as Administrative Agent pursuant to
this Section shall also constitute its resignation as L/C Issuer and Swing Line
Lender. Upon the acceptance of a successor's appointment as Administrative Agent
hereunder, (a) such successor shall succeed to and become vested with all of the
rights, powers, privileges and duties of the retiring L/C Issuer and Swing Line
Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged
from all of their respective duties and obligations hereunder or under the other
Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit
in substitution for the Letters of Credit, if any, outstanding at the time of
such succession or make other arrangements satisfactory to the retiring L/C
Issuer to effectively assume the obligations of the retiring L/C Issuer with
respect to such Letters of Credit.

      9.07 NON-RELIANCE ON ADMINISTRATIVE AGENT AND OTHER LENDERS. Each Lender
and the L/C Issuer acknowledges that it has, independently and without reliance
upon the Administrative Agent or any other Lender or any of their Related
Parties and based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter into this
Agreement. Each Lender and the L/C Issuer also acknowledges that it will,
independently and without reliance upon the Administrative Agent or any other
Lender or

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any of their Related Parties and based on such documents and information as it
shall from time to time deem appropriate, continue to make its own decisions in
taking or not taking action under or based upon this Agreement, any other Loan
Document or any related agreement or any document furnished hereunder or
thereunder.

      9.08 NO OTHER DUTIES, ETC. Anything herein to the contrary
notwithstanding, none of the Book Managers, Arrangers or Co-Syndication Agents
listed on the cover page hereof shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except
in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C
Issuer hereunder.

      9.09 ADMINISTRATIVE AGENT MAY FILE PROOFS OF CLAIM. In case of the
pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial
proceeding relative to the Borrower, the Administrative Agent (irrespective of
whether the principal of any Loan or L/C Obligation shall then be due and
payable as herein expressed or by declaration or otherwise and irrespective of
whether the Administrative Agent shall have made any demand on the Borrower)
shall be entitled and empowered, by intervention in such proceeding or otherwise

            (a) to file and prove a claim for the whole amount of the principal
      and interest owing and unpaid in respect of the Loans, L/C Obligations and
      all other Obligations that are owing and unpaid and to file such other
      documents as may be necessary or advisable in order to have the claims of
      the Lenders, the L/C Issuer and the Administrative Agent (including any
      claim for the reasonable compensation, expenses, disbursements and
      advances of the Lenders, the L/C Issuer and the Administrative Agent and
      their respective agents and counsel and all other amounts due the Lenders,
      the L/C Issuer and the Administrative Agent under Sections 2.03(i) and
      (j), 2.09 and 10.04) allowed in such judicial proceeding; and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by
each Lender and the L/C Issuer to make such payments to the Administrative Agent
and, in the event that the Administrative Agent shall consent to the making of
such payments directly to the Lenders and the L/C Issuer, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses,
disbursements and advances of the Administrative Agent and its agents and
counsel, and any other amounts due the Administrative Agent under Sections 2.09
and 10.04.

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

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      9.10 INDEMNIFICATION OF ADMINISTRATIVE AGENT. Whether or not the
transactions contemplated hereby are consummated, the Lenders shall indemnify
upon demand each Agent-Related Person (to the extent not reimbursed by or on
behalf of the Borrower and without limiting the obligation of the Borrower to do
so), pro rata, and hold harmless each Agent-Related Person from and against any
and all Indemnified Liabilities incurred by it (WHETHER OR NOT ARISING OUT OF
THE NEGLIGENCE OF SUCH AGENT-RELATED PERSON); provided, however, that no Lender
shall be liable for the payment to any Agent-Related Person of any portion of
such Indemnified Liabilities to the extent determined in a final, non-appealable
judgment by a court of competent jurisdiction to have resulted from such
Agent-Related Person's own gross negligence or willful misconduct; provided,
however, that no action taken in accordance with the directions of the Required
Lenders shall be deemed to constitute gross negligence or willful misconduct for
purposes of this Section. Without limitation of the foregoing, each Lender shall
reimburse the Administrative Agent upon demand for its ratable share of any
costs or out-of-pocket expenses (including Attorney Costs) incurred by the
Administrative Agent in connection with the preparation, execution, delivery,
administration, modification, amendment or enforcement (whether through
negotiations, legal proceedings or otherwise) of, or legal advice in respect of
rights or responsibilities under, this Agreement, any other Loan Document, or
any document contemplated by or referred to herein, to the extent that the
Administrative Agent is not reimbursed for such expenses by or on behalf of the
Borrower. The undertaking in this Section shall survive termination of the
Aggregate Commitments, the payment of all other Obligations and the resignation
of the Administrative Agent. THE FOREGOING INDEMNITY SHALL APPLY TO THE
NEGLIGENCE OF THE AGENT-RELATED PERSON (BUT NOT THE GROSS NEGLIGENCE OR WILLFUL
MISCONDUCT OF THE AGENT-RELATED PERSON). The obligations of the Lenders under
this Section 9.10 are subject to the provisions of Section 2.12(e).

                                    ARTICLE X
                                  MISCELLANEOUS

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

      (a) waive any condition set forth in Section 4.01(a) without the written
consent of each Lender;

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

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

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

      (e) change Section 2.13 or Section 8.03 in a manner that would alter the
pro rata sharing of payments required thereby without the written consent of
each Lender; or

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

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

      10.02 NOTICES; EFFECTIVENESS; ELECTRONIC COMMUNICATION.

      (a) Notices Generally. Except in the case of notices and other
communications expressly permitted to be given by telephone (and except as
provided in subsection (b) below), all notices and other communications provided
for herein shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by telecopier as
follows, and all notices and other communications expressly permitted hereunder
to be given by telephone shall be made to the applicable telephone number, as
follows:

            (i) if to the Borrower, the Administrative Agent, the L/C Issuer or
      the Swing Line Lender, to the address, telecopier number, electronic mail
      address or telephone number specified for such Person on Schedule 10.02;
      and

            (ii) if to any other Lender, to the address, telecopier number,
      electronic mail address or telephone number specified in its
      Administrative Questionnaire.

Notices sent by hand or overnight courier service, or mailed by certified or
registered mail, shall be deemed to have been given when received; notices sent
by telecopier shall be deemed to have been given when sent (except that, if not
given during normal business hours for the recipient,

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shall be deemed to have been given at the opening of business on the next
business day for the recipient). Notices delivered through electronic
communications to the extent provided in subsection (b) below, shall be
effective as provided in such subsection (b).

      (b) Electronic Communications. Notices and other communications to the
Lenders and the L/C Issuer hereunder may be delivered or furnished by electronic
communication (including e-mail and Internet or intranet websites) pursuant to
procedures approved by the Administrative Agent, provided that the foregoing
shall not apply to notices to any Lender or the L/C Issuer pursuant to Article
II if such Lender or the L/C Issuer, as applicable, has notified the
Administrative Agent that it is incapable of receiving notices under such
Article by electronic communication. The Administrative Agent or the Borrower
may, in its discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it,
provided that approval of such procedures may be limited to particular notices
or communications.

Unless the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the
sender's receipt of an acknowledgement from the intended recipient (such as by
the "return receipt requested" function, as available, return e-mail or other
written acknowledgement), provided that if such notice or other communication is
not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on
the next business day for the recipient, and (ii) notices or communications
posted to an Internet or intranet website shall be deemed received upon the
deemed receipt by the intended recipient at its e-mail address as described in
the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor.

      (c) The Platform. THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE." THE
AGENT-RELATED PERSONS DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE
BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM
LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF
ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD
PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY
AGENT-RELATED PERSON IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM.
In no event shall any Agent-Related Person have any liability to the Borrower,
any Lender, the L/C Issuer or any other Person for losses, claims, damages,
liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of the Borrower's or the Administrative Agent's transmission of
Borrower Materials through the Internet, except to the extent that such losses,
claims, damages, liabilities or expenses are determined by a court of competent
jurisdiction by a final and nonappealable judgment to have resulted from the
gross negligence or willful misconduct of such Agent-Related Person; provided,
however, that in no event shall any Agent-Related Person have any liability to
the Borrower, any Lender, the L/C Issuer or any other Person for indirect,
special, incidental, consequential or punitive damages (as opposed to direct or
actual damages).

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      (d) Change of Address, Etc. Each of the Borrower, the Administrative
Agent, the L/C Issuer and the Swing Line Lender may change its address,
telecopier or telephone number for notices and other communications hereunder by
notice to the other parties hereto. Each other Lender may change its address,
telecopier or telephone number for notices and other communications hereunder by
notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swing
Line Lender. In addition, each Lender agrees to notify the Administrative Agent
from time to time to ensure that the Administrative Agent has on record (i) an
effective address, contact name, telephone number, telecopier number and
electronic mail address to which notices and other communications may be sent
and (ii) accurate wire instructions for such Lender.

      (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The
Administrative Agent, the L/C Issuer and the Lenders shall be entitled to rely
and act upon any notices (including telephonic Revolving Loan Notices and Swing
Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i)
such notices were not made in a manner specified herein, were incomplete or were
not preceded or followed by any other form of notice specified herein, or (ii)
the terms thereof, as understood by the recipient, varied from any confirmation
thereof. The Borrower shall indemnify the Administrative Agent, the L/C Issuer,
each Lender and the Related Parties of each of them from all losses, costs,
expenses and liabilities resulting from the reliance by such Person on each
notice purportedly given by or on behalf of the Borrower. All telephonic notices
to and other telephonic communications with the Administrative Agent may be
recorded by the Administrative Agent, and each of the parties hereto hereby
consents to such recording.

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

      10.04 ATTORNEY COSTS, EXPENSES AND TAXES. The Borrower agrees (a) to pay
or reimburse the Administrative Agent for all reasonable out-of-pocket costs and
expenses incurred by the Administrative Agent and the Arranger in connection
with the development, preparation, negotiation and execution of this Agreement
and the other Loan Documents and any amendment, waiver, consent or other
modification of the provisions hereof and thereof (whether or not the
transactions contemplated hereby or thereby are consummated), and the
consummation and administration of the transactions contemplated hereby and
thereby, including all Attorney Costs, and (b) to pay or reimburse the
Administrative Agent and each Lender for all reasonable costs and expenses
incurred in connection with the enforcement, attempted enforcement, or
preservation of any rights or remedies under this Agreement or the other Loan
Documents (including all such costs and expenses incurred during any "workout"
or restructuring in respect of the Obligations and during any legal proceeding,
including any proceeding under any Debtor Relief Law), including all Attorney
Costs. The foregoing costs and expenses shall include all search, filing,
recording, title insurance and appraisal charges and fees and taxes related
thereto, and other reasonable out-of-pocket expenses incurred by the
Administrative Agent and the cost of independent public accountants and other
outside experts reasonably retained by the

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Administrative Agent or, with respect to clause (b) above, any Lender. All
amounts due under this Section 10.04 shall be payable within ten Business Days
after demand therefor, setting forth in reasonable detail the costs and expenses
so incurred. The agreements in this Section shall survive the termination of the
Aggregate Commitments and repayment of all other Obligations.

      10.05 INDEMNIFICATION BY THE BORROWER.

      (a) WHETHER OR NOT THE TRANSACTIONS CONTEMPLATED HEREBY ARE CONSUMMATED,
THE BORROWER SHALL INDEMNIFY AND HOLD HARMLESS EACH AGENT-RELATED PERSON, EACH
LENDER AND THEIR RESPECTIVE AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, COUNSEL,
AGENTS AND ATTORNEYS-IN-FACT (COLLECTIVELY THE "INDEMNITEES") FROM AND AGAINST
ANY AND ALL LIABILITIES, OBLIGATIONS, LOSSES, DAMAGES, PENALTIES, CLAIMS,
DEMANDS, ACTIONS, JUDGMENTS, SUITS, COSTS, EXPENSES AND DISBURSEMENTS (INCLUDING
ATTORNEY COSTS) OF ANY KIND OR NATURE WHATSOEVER WHICH MAY AT ANY TIME BE
IMPOSED ON, INCURRED BY OR ASSERTED AGAINST ANY SUCH INDEMNITEE IN ANY WAY
RELATING TO OR ARISING OUT OF OR IN CONNECTION WITH (i) THE EXECUTION, DELIVERY,
ENFORCEMENT, PERFORMANCE OR ADMINISTRATION OF ANY LOAN DOCUMENT OR ANY OTHER
AGREEMENT (OTHER THAN ADMINISTRATION COSTS, FEES OR EXPENSES INCURRED IN THE
ORDINARY ADMINISTRATION OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS RELATED
TO THE INFORMATION POSTINGS, REVOLVING LOAN NOTICES, PAYMENT NOTICES, BILLING,
COLLECTION OF LENDER PAYMENTS AND THE DISTRIBUTION OF PAYMENTS MADE BY THE
BORROWER TO THE ADMINISTRATIVE AGENT FOR THE BENEFIT OF LENDERS THAT HAVE BEEN
PAID AND ARE CONTEMPLATED BY THE FEE LETTER), LETTER OR INSTRUMENT DELIVERED IN
CONNECTION WITH THE TRANSACTIONS CONTEMPLATED THEREBY OR THE CONSUMMATION OF THE
TRANSACTIONS CONTEMPLATED THEREBY, (ii) ANY COMMITMENT, REVOLVING LOAN OR LETTER
OF CREDIT OR THE USE OF THE PROCEEDS THEREFROM (INCLUDING ANY REFUSAL BY AN L/C
ISSUER TO HONOR A DEMAND FOR PAYMENT UNDER A LETTER OF CREDIT IF THE DOCUMENTS
PRESENTED IN CONNECTION WITH SUCH DEMAND DO NOT STRICTLY COMPLY WITH THE TERMS
OF SUCH LETTER OF CREDIT), OR (iii) ANY CLAIM, LITIGATION, INVESTIGATION OR
PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY (INCLUDING ANY INVESTIGATION OF, PREPARATION FOR, OR DEFENSE OF
ANY PENDING OR THREATENED (IN WRITING) CLAIM, INVESTIGATION, LITIGATION OR
PROCEEDING) AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY THERETO (ALL THE
FOREGOING, COLLECTIVELY, THE "INDEMNIFIED LIABILITIES"), IN ALL CASES, WHETHER
OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE NEGLIGENCE OF THE
INDEMNITEE; PROVIDED THAT SUCH INDEMNITY SHALL NOT, AS TO ANY INDEMNITEE, BE
AVAILABLE (i) TO THE EXTENT THAT SUCH LIABILITIES, OBLIGATIONS, LOSSES, DAMAGES,
PENALTIES, CLAIMS, DEMANDS, ACTIONS, JUDGMENTS, SUITS, COSTS, EXPENSES OR
DISBURSEMENTS ARE DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND
NON-APPEALABLE JUDGMENT TO HAVE RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL

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MISCONDUCT OF SUCH INDEMNITEE OR (ii) FOR ANY LOSS ASSERTED AGAINST IT BY
ANOTHER INDEMNITEE, PROVIDED THAT SUCH ASSERTED LOSS WAS NOT A RESULT OF
BORROWER'S OR ITS SUBSIDIARIES' OWN CONDUCT. NO INDEMNITEE SHALL BE LIABLE FOR
ANY DAMAGES ARISING FROM THE USE BY OTHERS OF ANY INFORMATION OR OTHER MATERIALS
OBTAINED THROUGH INTRALINKS OR OTHER SIMILAR INFORMATION TRANSMISSION SYSTEMS IN
CONNECTION WITH THIS AGREEMENT, NOR SHALL ANY INDEMNITEE HAVE ANY LIABILITY FOR
ANY INDIRECT OR CONSEQUENTIAL DAMAGES RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT OR ARISING OUT OF ITS ACTIVITIES IN CONNECTION HEREWITH OR
THEREWITH (WHETHER BEFORE OR AFTER THE CLOSING DATE). THE FOREGOING INDEMNITY
SHALL APPLY TO THE NEGLIGENCE OF THE INDEMNITEE (BUT NOT THE GROSS NEGLIGENCE OR
WILLFUL MISCONDUCT OF THE INDEMNITEE). ALL AMOUNTS DUE UNDER THIS SECTION 10.05
SHALL BE PAYABLE WITHIN TEN BUSINESS DAYS AFTER DEMAND THEREFOR. THE AGREEMENTS
IN THIS SECTION SHALL SURVIVE THE RESIGNATION OF THE ADMINISTRATIVE AGENT, THE
REPLACEMENT OF ANY LENDER, THE TERMINATION OF THE AGGREGATE COMMITMENTS AND THE
REPAYMENT, SATISFACTION OR DISCHARGE OF ALL THE OTHER OBLIGATIONS.

      (b) EACH INDEMNITEE AGREES WITH RESPECT TO ANY ACTION AGAINST IT IN
RESPECT OF WHICH INDEMNITY MAY BE SOUGHT UNDER THIS SECTION 10.05, THAT SUCH
INDEMNITEE WILL GIVE WRITTEN NOTICE OF THE COMMENCEMENT OF SUCH ACTION TO THE
BORROWER WITHIN A REASONABLE TIME AFTER SUCH INDEMNITEE IS MADE A PARTY TO SUCH
ACTION. UPON RECEIPT OF ANY SUCH NOTICE BY THE BORROWER, THE BORROWER, UNLESS
SUCH INDEMNITEE SHALL BE ADVISED BY ITS COUNSEL THAT THERE ARE OR MAY BE LEGAL
DEFENSES AVAILABLE TO SUCH INDEMNITEE THAT ARE DIFFERENT FROM, IN ADDITION TO,
OR IN CONFLICT WITH, THE DEFENSES AVAILABLE TO THE BORROWER, MAY PARTICIPATE
WITH THE INDEMNITEE IN THE DEFENSE OF SUCH INDEMNIFIED MATTER; PROVIDED,
HOWEVER, NOTHING PROVIDED HEREIN SHALL (i) ENTITLE THE BORROWER TO ASSUME THE
DEFENSE OF SUCH INDEMNIFIED MATTER OR (ii) REQUIRE THE CONSENT OF THE BORROWER
FOR ANY SETTLEMENT OR ACTION IN RESPECT OF SUCH INDEMNIFIED MATTER, ALTHOUGH
EACH INDEMNITEE AGREES TO CONFER AND CONSULT WITH THE BORROWER BEFORE MAKING ANY
SETTLEMENT OF SUCH INDEMNIFIED MATTER.

      10.06 PAYMENTS SET ASIDE. To the extent that any payment by or on behalf
of the Borrower is made to the Administrative Agent, any L/C Issuer or any
Lender, or the Administrative Agent, any L/C Issuer or any Lender exercises its
right of set-off, and such payment or the proceeds of such set-off or any part
thereof is subsequently invalidated, declared to be fraudulent or preferential,
set aside or required (including pursuant to any settlement entered into by the
Administrative Agent, any L/C Issuer or such Lender in its discretion) to be
repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of
such recovery, the obligation or part thereof originally intended to be
satisfied shall be revived and continued in full force and effect as if such
payment had not been made or such set-off had not occurred, and (b) each Lender
and

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L/C Issuer severally agrees to pay to the Administrative Agent upon demand its
applicable share of any amount so recovered from or repaid by the Administrative
Agent, plus interest thereon from the date of such demand to the date such
payment is made at a rate per annum equal to the Federal Funds Rate from time to
time in effect. The obligations of each Lender and L/C Issuer under clause (b)
of the preceding sentence shall survive the payment in full of the Obligations
and termination of this Agreement.

      10.07 SUCCESSORS AND ASSIGNS.

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

      (b) Any Lender may at any time assign to one or more Eligible Assignees
all or a portion of its rights and obligations under this Agreement (including
all or a portion of its Commitment and the Loans (including for purposes of this
subsection (b), participations in L/C Obligations and Swing Line Loans) at the
time owing to it); provided that (i) except in the case of an assignment of the
entire remaining amount of the assigning Lender's Commitment and the Loans and
participations in L/C Obligations and Swing Line Loans owing to it at the time
owing to it or in the case of an assignment to a Lender or an Affiliate of a
Lender or an Approved Fund (as defined in subsection (g) of this Section) with
respect to a Lender, the aggregate amount of the Commitment (which for this
purpose includes Loans outstanding thereunder and participations in L/C
Obligations and Swing Line Loans owing to it) subject to each such assignment,
determined as of the date the Assignment and Assumption with respect to such
assignment is delivered to the Administrative Agent or, if "Trade Date" is
specified in the Assignment and Assumption, as of the Trade Date, shall not be
less than $5,000,000 unless each of the Administrative Agent and, so long as no
Event of Default has occurred and is continuing, the Borrower otherwise consents
(each such consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group and
concurrent assignments from members of members of an Assignee Group to a single
Eligible Assignee (or to an Eligible Assignee and member of its Assignee Group)
will be treated as a single assignment for purposes of determining whether such
minimum amount has been met; (ii) each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender's rights and
obligations under this Agreement with respect to the Loans or the Commitment
assigned, except that this clause (ii) shall not apply to its rights and
obligations in respect of Swing Line Loans made by it if such assigning Lender
is the Swing Line Lender; (iii) any assignment of a Commitment must be approved
by the Administrative Agent, the Swing

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Line Lender and each L/C Issuer (each such approval not to be unreasonably
withheld or delayed) unless the Person that is the proposed assignee is itself a
Lender (whether or not the proposed assignee would otherwise qualify as an
Eligible Assignee); (iv) the parties to each assignment shall execute and
deliver to the Administrative Agent an Assignment and Assumption; and (v) the
parties to each assignment shall execute and deliver to the Administrative Agent
an Assignment and Assumption, together with a processing and recordation fee in
the amount, if any, required as set forth in Schedule 10.06, and the Eligible
Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent
an Administrative Questionnaire.. Subject to acceptance and recording thereof by
the Administrative Agent pursuant to subsection (c) of this Section, from and
after the effective date specified in each Assignment and Assumption, the
Eligible Assignee thereunder shall be a party to this Agreement and, to the
extent of the interest assigned by such Assignment and Assumption, have the
rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such
Assignment and Assumption, be released from its obligations under this Agreement
(and, in the case of an Assignment and Assumption covering all of the assigning
Lender's rights and obligations under this Agreement, such Lender shall cease to
be a party hereto but shall continue to be entitled to the benefits of Sections
3.01, 3.04, 3.05, 10.04 and 10.05 with respect to facts and circumstances
occurring prior to the effective date of such assignment). Upon request, the
Borrower (at its expense) shall execute and deliver a Revolving Loan Note to the
assignee Lender. Any assignment or transfer by a Lender of rights or obligations
under this Agreement that does not comply with this subsection shall be treated
for purposes of this Agreement as a sale by such Lender of a participation in
such rights and obligations in accordance with subsection (d) of this Section.

      (c) The Administrative Agent, acting solely for this purpose as an agent
of the Borrower, shall maintain at the Administrative Agent's Office a copy of
each Assignment and Assumption delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of,
and principal amounts of the Revolving Loans and L/C Obligations owing to, each
Lender pursuant to the terms hereof from time to time (the "Register"). The
entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent and the Lenders may treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for
all purposes of this Agreement, notwithstanding notice to the contrary. The
Register shall be available for inspection by the Borrower and any L/C Issuer,
at any reasonable time and from time to time upon reasonable prior notice. In
addition, at any time that a request for a consent for a material or substantive
change to the Loan Documents is pending, any Lender may receive from the
Administrative Agent a copy of the Register.

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

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Lender's rights and obligations under this Agreement. Any agreement or
instrument pursuant to which a Lender sells such a participation shall provide
that such Lender shall retain the sole right to enforce this Agreement and to
approve any amendment, modification or waiver of any provision of this
Agreement; provided that such agreement or instrument may provide that such
Lender will not, without the consent of the Participant, agree to any amendment,
waiver or other modification described in the first proviso to Section 10.01
that directly affects such Participant. Subject to subsection (e) of this
Section, the Borrower agrees that each Participant shall be entitled to the
benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to subsection (b) of
this Section. To the extent permitted by Law, each Participant also shall be
entitled to the benefits of Section 10.09 as though it were a Lender, provided
such Participant agrees to be subject to Section 2.13 as though it were a
Lender.

      (e) A Participant shall not be entitled to receive any greater payment
under Section 3.01 or 3.04 than the applicable Lender would have been entitled
to receive with respect to the participation sold to such Participant, unless
the sale of the participation to such Participant is made with the Borrower's
prior written consent. A Participant that would be a Foreign Lender if it were a
Lender shall not be entitled to the benefits of Section 3.01 unless the Borrower
is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower, to comply with Section 10.15 as though
it were a Lender.

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

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

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

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

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

      (h) Notwithstanding anything to the contrary contained herein, any Lender
that is a Fund may create a security interest in all or any portion of the
Revolving Loans owing to it and

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the Revolving Loan Note, if any, held by it to the trustee for holders of
obligations owed, or securities issued, by such Fund as security for such
obligations or securities, provided that unless and until such trustee actually
becomes a Lender in compliance with the other provisions of this Section 10.07,
(i) no such pledge shall release the pledging Lender from any of its obligations
under the Loan Documents and (ii) such trustee shall not be entitled to exercise
any of the rights of a Lender under the Loan Documents even though such trustee
may have acquired ownership rights with respect to the pledged interest through
foreclosure or otherwise.

      (i) The words "execution," "signed," "signature," and words of like import
in any Assignment and Assumption shall be deemed to include electronic
signatures or the keeping of records in electronic form, each of which shall be
of the same legal effect, validity or enforceability as a manually executed
signature or the use of a paper-based recordkeeping system, as the case may be,
to the extent and as provided for in any Applicable Law, including the Federal
Electronic Signatures in Global and National Commerce Act, the New York State
Electronic Signatures and Records Act, or any other similar state laws based on
the Uniform Electronic Transactions Act.

      (j) Notwithstanding anything to the contrary contained herein, if at any
time Bank of America assigns all of its Commitment and Loans pursuant to
subsection (b) above, Bank of America may, (i) upon 30 days' notice to the
Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days' notice
to the Borrower, resign as Swing Line Lender. In the event of any such
resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled
to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender
hereunder; provided, however, that no failure by the Borrower to appoint any
such successor shall affect the resignation of Bank of America as L/C Issuer or
Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer,
it shall retain all the rights, powers, privileges and duties of the L/C Issuer
hereunder with respect to all Letters of Credit outstanding as of the effective
date of its resignation as L/C Issuer and all L/C Obligations with respect
thereto (including the right to require the Lenders to make Base Rate Loans or
fund participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If
Bank of America resigns as Swing Line Lender, it shall retain all the rights of
the Swing Line Lender provided for hereunder with respect to Swing Line Loans
made by it and outstanding as of the effective date of such resignation,
including the right to require the Lenders to make Base Rate Loans or fund
participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon
the appointment of a successor L/C Issuer and/or Swing Line Lender and
acceptance by such successor L/C Issuer and/or Swing Line Lender of such
appointment, (a) such successor shall succeed to and become vested with all of
the rights, powers, privileges and duties of the retiring L/C Issuer or Swing
Line Lender, as the case may be, and (b) the successor L/C Issuer shall issue
letters of credit in substitution for the Letters of Credit, if any, outstanding
at the time of such succession or make other arrangements satisfactory to Bank
of America to effectively assume the obligations of Bank of America with respect
to such Letters of Credit.

      10.08 CONFIDENTIALITY. Each of the Administrative Agent and the Lenders
agrees to maintain the confidentiality of the Information (as defined below),
except that Information may be disclosed (a) to its and its Affiliates'
directors, officers, employees and agents, including accountants, legal counsel
and other advisors (it being understood that the Persons to whom such disclosure
is made will be informed of the confidential nature of such Information and
instructed

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to keep such Information confidential); (b) to the extent requested by any
regulatory authority; (c) to the extent required by Applicable Laws or
regulations or by any subpoena or similar legal process; (d) to any other party
to this Agreement; (e) in connection with the exercise of any remedies hereunder
or any suit, action or proceeding relating to this Agreement or the enforcement
of rights hereunder; (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any Eligible Assignee of
or Participant in, or any prospective Eligible Assignee of or Participant in,
any of its rights or obligations under this Agreement or (ii) any direct or
indirect contractual counterparty or prospective counterparty (or such
contractual counterparty's or prospective counterparty's professional advisor)
to any credit derivative transaction relating to obligations of the Borrower;
(g) with the consent of the Borrower; (h) to the extent such Information (i)
becomes publicly available other than as a result of a breach of this Section or
(ii) becomes available to the Administrative Agent or any Lender on a
nonconfidential basis from a source other than the Borrower; or (i) to the
National Association of Insurance Commissioners or any other similar
organization. In addition, the Administrative Agent and the Lenders may disclose
the existence of this Agreement and information about this Agreement to market
data collectors, similar service providers to the lending industry, and service
providers to the Administrative Agent and the Lenders in connection with the
administration and management of this Agreement, the other Loan Documents, the
Commitments, and the Credit Extensions. For the purposes of this Section,
"Information" means all information received from the Borrower relating to the
Borrower or any Subsidiary or its business, other than any such information that
is available to the Administrative Agent or any Lender on a nonconfidential
basis prior to disclosure by the Borrower; provided that, in the case of
information received from the Borrower after the date hereof, such information
is clearly identified in writing at the time of delivery as confidential. Any
Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so
if such Person has exercised the same degree of care to maintain the
confidentiality of such Information as such Person would accord to its own
confidential information.

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

      10.10 INTEREST RATE LIMITATION. Notwithstanding anything to the contrary
contained in any Loan Document, the interest paid or agreed to be paid under the
Loan Documents shall not

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exceed the Highest Lawful Rate. If the Administrative Agent or any Lender shall
receive interest in an amount that exceeds the Highest Lawful Rate, the excess
interest shall be applied to the principal of the Loans or, if it exceeds such
unpaid principal, refunded to the Borrower. In determining whether the interest
contracted for, charged, or received by the Administrative Agent or a Lender
exceeds the Highest Lawful Rate, such Person may, to the extent permitted by
Applicable Law, (a) characterize any payment that is not principal as an
expense, fee, or premium rather than interest, (b) exclude voluntary prepayments
and the effects thereof, and (c) amortize, prorate, allocate, and spread in
equal or unequal parts the total amount of interest throughout the contemplated
term of the Obligations hereunder.

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

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

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

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

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      10.15 TAX FORMS.

      (a)

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

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

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<PAGE>

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

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

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

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

      10.16 REPLACEMENT OF LENDERS. If any Lender is a Defaulting Lender or
under any circumstances set forth herein providing that the Borrower shall have
the right to replace a Lender as a party to this Agreement, the Borrower may,
upon notice to such Lender and the Administrative Agent, replace such Lender by
causing such Lender to assign its Commitment (with any assignment fee to be paid
by the Borrower in such instance) pursuant to Section 10.07(b) to one or more
other Lenders or Eligible Assignees procured by the Borrower; provided, however,
that if the Borrower elects to exercise such right with respect to any Lender
pursuant to Section 3.06(b), it shall be obligated to replace all Lenders that
have made similar requests for compensation pursuant to Section 3.01 or 3.04.
The Borrower shall (x) pay in full

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all principal, interest, fees and other amounts owing to such Lender through the
date of replacement (including any amounts payable pursuant to Section 3.05),
(y) provide appropriate assurances and indemnities (which may include letters of
credit) to the L/C Issuers as each may reasonably require with respect to any
continuing obligation to fund participation interests in any L/C Obligations
then outstanding, and (z) release such Lender from its obligations under the
Loan Documents. Any Lender being replaced shall execute and deliver an
Assignment and Assumption with respect to such Lender's Commitment and
outstanding Revolving Loans and participations in L/C Obligations and Swing Line
Loans.

      10.17 GOVERNING LAW.

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

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

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

                                       84
<PAGE>

      10.19 USA PATRIOT ACT NOTICE. Each Lender that is subject to the Act (as
hereinafter defined) and the Administrative Agent (for itself and not on behalf
of any Lender) hereby notifies the Borrower that pursuant to the requirements of
the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the "Act"), it is required to obtain, verify and record information that
identifies the Borrower, which information includes the name and address of the
Borrower and other information that will allow such Lender or the Administrative
Agent, as applicable, to identify the Borrower in accordance with the Act.

      10.20 ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

                   REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

                                       85
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first above written.

                                        COMMERCIAL METALS COMPANY

                                        By: ____________________________________
                                            Name: ______________________________
                                            Title: _____________________________

                                       S-1
<PAGE>

                                  BANK OF AMERICA, N.A., as Administrative Agent

                                  By: __________________________________________
                                      Name: ____________________________________
                                      Title: ___________________________________

                                       S-2
<PAGE>

                                        BANK OF AMERICA, N.A., as a Lender,
                                        Swing Line Lender and an L/C Issuer

                                        By: ____________________________________
                                            Name: ______________________________
                                            Title: _____________________________

                                      S-3
<PAGE>

                                        THE BANK OF TOKYO-MITSUBISHI, LTD.,
                                        as Syndication Agent and as a Lender

                                        By: ____________________________________
                                            Name: ______________________________
                                            Title: _____________________________

                                       S-4
<PAGE>

                                        BNP PARIBAS, as Co-Documentation Agent
                                        and as a Lender

                                        By: ____________________________________
                                            Name: ______________________________
                                            Title: _____________________________

                                        By: ____________________________________
                                            Name: ______________________________
                                            Title: _____________________________

                                       S-5
<PAGE>

                                        SCOTIABANC, INC., as Co-Documentation
                                        Agent and as a Lender

                                        By: ____________________________________
                                            Name: ______________________________
                                            Title: _____________________________

                                       S-6
<PAGE>

                               WELLS FARGO HSBC TRADE BANK, as Co-Documentation
                               Agent, a Lender and an L/C Issuer

                               By: _____________________________________________
                                   Name: _______________________________________
                                   Title: ______________________________________

                                       S-7
<PAGE>

                                        HARRIS NESBITT FINANCING, INC.

                                        By: ____________________________________
                                            Name: ______________________________
                                            Title: _____________________________

                                       S-8
<PAGE>

                                        JPMORGAN CHASE BANK, N.A.

                                        By: ____________________________________
                                            Name: ______________________________
                                            Title: _____________________________

                                       S-9
<PAGE>

                                       WACHOVIA BANK, NA

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-10

<PAGE>

                                       MELLON BANK, N.A.

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-11

<PAGE>

                                       ABN AMRO BANK N.V.

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-12

<PAGE>

                                       AMEGY BANK NATIONAL ASSOCIATION

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-13

<PAGE>

                                       AUSTRALIA AND NEW ZEALAND
                                       BANKING GROUP LIMITED

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-14

<PAGE>

                                       COMERICA BANK

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-15

<PAGE>

                                       FORTIS CAPITAL CORP.

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-16

<PAGE>

                                       HIBERNIA NATIONAL BANK

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-17

<PAGE>

                                       HSBC BANK USA

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-18

<PAGE>

                                       NATIONAL AUSTRALIA BANK LIMITED,
                                       A.B.N. 12 004 044 937

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-19

<PAGE>

                                       SOCIETE GENERALE

                                       By: _____________________________________
                                           Name: _______________________________
                                           Title: ______________________________

                                      S-20exv4w5

 

Exhibit 4.5

SUPPLEMENTAL INDENTURE

     This Supplemental Indenture (this “Supplemental Indenture”), dated as of ____________,
2005, is by and among Global Cash Access Holdings, Inc., a Delaware corporation
(“Holdings”), Global Cash Access, Inc., a Delaware corporation and successor to Global Cash
Access, L.L.C., a Delaware limited liability company (the “Company”), Central Credit, LLC,
a Delaware limited liability company, as the sole current Subsidiary Guarantor (as defined in the
Indenture referred to herein) and The Bank of New York Trust Company,
N.A., as trustee under the Indenture referred to
below (the “Trustee”).

W I T N E S S E T H

     WHEREAS, the Company and Global Cash Access Finance Corporation, a Delaware corporation that
was subsequently merged with and into the Company, has heretofore
executed and delivered to The Bank of New York, the predecessor in
interest to the
Trustee, an indenture (the “Indenture”), dated as of March 10, 2004, providing for the
issuance of an aggregate principal amount of $235 million of 83⁄4% Senior
Subordinated Notes due 2012 (the “Notes”);

     WHEREAS, Holdings holds 100% of the outstanding equity interests in the Company and Holdings
desires to execute and deliver to the Trustee a supplemental indenture pursuant to which Holdings
shall unconditionally guarantee all of the Company’s obligations under the Notes and the Indenture
on the terms and conditions set forth herein (the “Guarantee”); and

     WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture.

     NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, Holdings and the Trustee mutually
covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

     1. Capitalized Terms. Capitalized terms used herein without definition shall have the
meanings assigned to them in the Indenture.

     2. Agreement to Guarantee. Holdings hereby agrees as follows:

          (a) Along with all Subsidiary Guarantors, to jointly and severally guarantee to each Holder of
a Note authenticated and delivered by the Trustee and to the Trustee and its successors and
assigns, irrespective of the validity and enforceability of the Indenture, the Notes or the
obligations of the Company hereunder or thereunder, that:

               (i) the principal of and interest on the Notes will be promptly paid in full when due, whether
at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and
interest on the Notes, if any, if lawful (subject in all cases to any applicable grace period
provided in the Indenture), and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed,
all in accordance with the terms hereof and thereof; and

1

 

               (ii) in case of any extension of time of payment or renewal of any Notes or any of such other
obligations, the same will be promptly paid in full when due or performed in accordance with the
terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.
Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever
reason, Holdings and the Subsidiary Guarantors shall be jointly and severally obligated to pay the
same immediately. Holdings agrees that this is a guarantee of payment and not a guarantee of
collection.

          (b) The obligations hereunder shall be unconditional, irrespective of the validity, regularity
or enforceability of the Notes or the Indenture, the absence of any action to enforce the same, any
waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the
recovery of any judgment against the Company, any action to enforce the same or any other
circumstance that might otherwise constitute a legal or equitable discharge or defense of a
guarantor.

          (c) Subject to Section 6.06 of the Indenture, the following are hereby waived: diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever.

          (d) This Guarantee shall not be discharged except by complete performance of the obligations
contained in the Notes and the Indenture.

          (e) If any Holder or the Trustee is required by any court or otherwise to return to the
Company, Holdings, the Subsidiary Guarantors, or any Custodian, Trustee, liquidator or other
similar official acting in relation to either the Company, Holdings or the Subsidiary Guarantors,
any amount paid by either to the Trustee or such Holder, this Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect.

          (f) Holdings shall not be entitled to any right of subrogation in relation to the Holders in
respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed
hereby.

          (g) As between Holdings and the Subsidiary Guarantors, on the one hand, and the Holders and
the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be
accelerated as provided in Article Six of the Indenture for the purposes of this Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of
such obligations as provided in Article Six of the Indenture, such obligations (whether or not due
and payable) shall forthwith become due and payable by Holdings and the Subsidiary Guarantors for
the purpose of this Guarantee.

          (h) The obligations of Holdings pursuant to its Guarantee shall be limited to the maximum
amount which, after giving effect to any and all other contingent and fixed liabilities that are
relevant under any applicable Bankruptcy or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or payments
made by or on behalf of any Subsidiary Guarantor in respect of the obligations of such Subsidiary

2

 

Guarantor under Article Eleven of the Indenture, will result in the obligations of Holdings under
its Guarantee not constituting a fraudulent transfer or conveyance under federal or state law.

     3. Subordination. The Obligations of Holdings under its Guarantee pursuant to this
Supplemental Indenture shall be junior and subordinated to the Senior Indebtedness (as defined in
the Indenture, except that all references in such definition to “Co-Obligors” shall be deemed for
purposes of this Section to be references to “Holdings”) of Holdings on the same basis as the Notes
are junior and subordinated to the Senior Indebtedness of the Company, as described in Article Ten
of the Indenture. For the purposes of the foregoing sentence, the Trustee and the Holders shall
have the right to receive and/or retain payments by Holdings only at such time as they may receive
and/or retain payments in respect of the Notes pursuant to the Indenture, including Article Ten
thereof.

     4. Execution and Delivery. Holdings agrees that its Guarantee shall remain in full
force and effect notwithstanding any failure to endorse on each Note a notation of such Guarantee.

     5. No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of Holdings, as such, shall have any liability for any obligations of Holdings under
the Notes, this Indenture, the Guarantee or for any claim based on, in respect of, or by reason of,
such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases
all such liability. The waiver and release are part of the consideration for issuance of the
Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

     6. NEW YORK LAW TO GOVERN. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN
AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE BUT WITHOUT GIVING EFFECT TO APPLICABLE
PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY.

     7. Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement.

     8. Effect of Headings. The Section headings herein are for convenience only and shall
not affect the construction hereof.

     9. Trustee. The Trustee shall not be responsible in any manner whatsoever for or in
respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the
recitals contained herein, all of which recitals are made solely by Holdings and the Company.

3

 

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written.

Dated: _______ __, 2005

	 	 	 	 	 
	 	GLOBAL CASH ACCESS HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Kirk Sanford 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	GLOBAL CASH ACCESS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Kirk Sanford 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	CENTRAL CREDIT, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	Kirk Sanford 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	THE BANK OF NEW YORK TRUST COMPANY, N.A., AS TRUSTEE

 	 
	

	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:

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