Document:

Exhibit 10(g)(4)

	
  THIS DOCUMENT WAS PREPARED
  BY

  	
   

  	
  

  
	
  AND IS TO BE
  RETURNED TO:

  	
   

  	
  20070111000063800      1/47

  
	
   

  	
   

  	
  Bk:
  LR200701 Pg: 18463

  
	
  Timothy W.
  Bratcher, Esq.

  	
   

  	
  Jefferson
  County, Alabama

  
	
  Jones Day

  	
   

  	
  I certify this
  instrument filed on

  
	
  1420 Peachtree
  Street, NE, Suite 800

  	
   

  	
  01/11/2007
  01:43:41 PM MTG

  
	
  Atlanta, Georgia
  30309-3053

  	
   

  	
  Judge of
  Probate- Mark Gaines

  

 

AMENDED AND RESTATED LEASE AGREEMENT

Dated as of January 11, 2007

Between

Wachovia Development Corporation 

(as assignee of Wachovia Capital Investments, Inc.),

as the Lessor,

and

Protective Life Insurance Company,

as the Lessee

THIS
AMENDED AND RESTATED LEASE
AGREEMENT AMENDS AND RESTATES THAT CERTAIN LEASE AGREEMENT DATED AS OF FEBRUARY
1, 2000, RECORDED AS INSTRUMENT NO. 200002/0944,
IN THE PROBATE OFFICE OF JEFFERSON COUNTY, ALABAMA, AS PREVIOUSLY
AMENDED. THIS AMENDED AND RESTATED LEASE AGREEMENT IS ALSO A MORTGAGE AND
SECURITY AGREEMENT BETWEEN THE LESSEE, PROTECTIVE LIFE INSURANCE COMPANY, AS
MORTGAGOR AND DEBTOR, AND THE LESSOR, WACHOVIA DEVELOPMENT CORPORATION, AS
MORTGAGEE AND SECURED PARTY, SECURING INDEBTEDNESS IN THE PRINCIPAL AMOUNT OF
$75,000,000. THE COLLATERAL SUBJECT TO THE SECURITY INTEREST INCLUDES PERSONAL
PROPERTY THAT IS, OR MAY BECOME, FIXTURES ATTACHED TO THE REAL PROPERTY
DESCRIBED IN THIS AMENDED AND RESTATED LEASE AGREEMENT. THIS AMENDED AND
RESTATED LEASE AGREEMENT SHOULD BE FILED AND RECORDED IN THE REAL ESTATE
RECORDS AS A LEASE AND AS A MORTGAGE AND FIXTURE FILING. WACHOVIA DEVELOPMENT
CORPORATION SHOULD BE INDEXED AS THE GRANTOR OF THE LEASE AND THE GRANTEE
(MORTGAGEE) OF THE MORTGAGE AND SECURITY INTEREST. PROTECTIVE LIFE INSURANCE
COMPANY SHOULD BE INDEXED AS THE GRANTEE OF THE LEASE AND THE GRANTOR
(MORTGAGOR) OF THE MORTGAGE AND SECURITY INTEREST. THE MAILING ADDRESSES OF THE
LESSEE (MORTGAGOR AND DEBTOR) AND THE LESSOR (MORTGAGEE AND SECURED PARTY) FROM
WHICH INFORMATION CONCERNING THE SECURITY INTEREST MAY BE OBTAINED ARE SET
FORTH ON THE SIGNATURE PAGES HEREOF AND A STATEMENT INDICATING THE TYPES, OR
DESCRIBING THE ITEMS, OF COLLATERAL ARE AS DESCRIBED IN SECTION 26 HEREOF. 

THIS
INSTRUMENT IS FILED AND SHALL CONSTITUTE A FIXTURE FILING IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 7-9A-502(C) OF THE CODE OF ALABAMA. 

THIS
INSTRUMENT IS A “CONSTRUCTION MORTGAGE,” AS DEFINED IN SECTION 7-9A-334(H) OF
THE CODE OF ALABAMA AND SECURES, AMONG OTHER OBLIGATIONS, AN OBLIGATION
INCURRED FOR THE CONSTRUCTION OF AN IMPROVEMENT ON LAND. 

TABLE OF CONTENTS

	
  Section 1.

  	
   

  	
  Defined Terms

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.

  	
   

  	
  Lease of Facility

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 3.

  	
   

  	
  Payments

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.

  	
   

  	
  Anti-Terrorism Laws

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 5.

  	
   

  	
  Title to Facility

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 6.

  	
   

  	
  Title to Remain in the Lessor

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.

  	
   

  	
  Maintenance of the Facility; Operations

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 8.

  	
   

  	
  Modifications

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 9.

  	
   

  	
  Further Assurances

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 10.

  	
   

  	
  Compliance with Governmental Requirements and
  Insurance Requirements: Related Contracts

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 11.

  	
   

  	
  Condition and Use of Facility; Quiet Enjoyment

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.

  	
   

  	
  Liens

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 13.

  	
   

  	
  Permitted Contests

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 14.

  	
   

  	
  Insurance, etc

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 15.

  	
   

  	
  Termination; Cancellation; Purchase Option

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 16.

  	
   

  	
  Transfer of Title on Removal of Facility; Expenses
  of Transfer

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 17.

  	
   

  	
  Events of Default and Remedies

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 18.

  	
   

  	
  Change in the Lessee’s Name or Structure

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 19.

  	
   

  	
  Inspection; Right to Enter Premises of the Lessee

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 20.

  	
   

  	
  Right to Perform the Lessee’s Covenants; The
  Administrative Agent

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 21.

  	
   

  	
  Participation by Co-Lessees or Sublessees

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 22.

  	
   

  	
  Notices

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 23.

  	
   

  	
  Amendments and Waivers

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 24.

  	
   

  	
  Severability

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 25.

  	
   

  	
  Federal Income Tax Considerations

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 26.

  	
   

  	
  Other Provisions

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 27.

  	
   

  	
  Miscellaneous

  	
   

  	
  31

  

 

	
  EXHIBIT A

  	
   

  	
  Description of Site

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EXHIBIT B

  	
   

  	
  Other Defined Terms

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 14

  	
   

  	
  Insurance Requirements

  	
   

  	
   

  

 

 i

AMENDED AND RESTATED
LEASE AGREEMENT

                This Amended and
Restated Lease Agreement dated as of January 11, 2007, (as the same may be
amended, restated, modified or supplemented from time to time, this “Lease”)
is between Wachovia Development Corporation, a North Carolina corporation
(together with its successors and permitted assigns, the “Lessor”), and
Protective Life Insurance Company, a Tennessee corporation (together with its
successors and permitted assigns, the “Lessee”).

RECITALS

                WHEREAS, pursuant
to the Original Ground Lease (as this and other terms used in these recitals
are defined in accordance with Section 1 below), WCI acquired a ground lease of
certain real property located in Jefferson County, Alabama, described in
greater detail in Exhibit A, attached hereto and made a part hereof (the
“Site”), and, pursuant to the Original Lease Documents, constructed and
installed on the Site an annex office building and a related parking deck and
related enhancements and improvements, including furniture, fixtures and
equipment, all of which comprise the Facility; and

WHEREAS, WCI has assigned 100% of its right, title,
and interest in and to the Original Lease Documents to Lessor pursuant to the
terms of the Lessor Assignment Agreement; and

WHEREAS, the Lessee has requested to refinance and
extend the maturity of the Original Lease Agreement by, among other things,
entering into that certain Amended and Restated Ground Lease dated as of the
date hereof (as the same may be amended, restated, supplemented, or otherwise
modified from time to time, the “Ground Lease”), that certain Amended
and Restated Investment and Participation Agreement dated as of the date hereof
(as the same may be amended, restated, supplemented, or otherwise modified from
time to time, the “Investment Agreement”), and this Lease; and

WHEREAS, subject to the terms and conditions of this
Lease, the Lessee desires to continue to lease from the Lessor the ground lease
interest in the Site and such enhancements and Improvements beginning on the Lease
Commencement Date for the purpose of continuing to occupy and use the Site and
such enhancements and Improvements as an annex office building and parking deck
in accordance with the amended and restated terms and conditions set forth in
this Lease.

NOW, THEREFORE, in consideration of the premises and
the mutual covenants and agreements herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Lessor and the Lessee agree as follows:

Section 1.  Defined Terms.

                                                (i)
           In this Lease, the
terms “Lease,” “Lessee,” and “Lessor” shall have the
meanings indicated above.

                                                (ii)
          As used in this Lease,
all capitalized terms used in this Lease and not otherwise defined herein or as
set forth on Exhibit B shall have the meanings assigned such terms in
Schedule 1.02 to the Investment Agreement, the terms and provisions of which
schedule are incorporated herein by reference and made a part hereof.

Section 2.  Lease of Facility.

(a)           During the term of and
subject to the terms and conditions of this Lease, the Lessor hereby leases to
the Lessee, and the Lessee hereby leases from the Lessor, the Facility for the
Lease Term to be occupied and used for and only for the Permitted Use with respect
to the Basic Term.  The entire Facility
shall become subject to this Lease as of the effective date hereof.

(b)           Unless earlier
terminated in accordance with the other provisions hereof, including without
limitation, Sections 15 and 17, this Lease shall terminate on the Scheduled
Lease Termination Date.

                The Lessee shall
give to the Lessor written notice as provided below under the circumstances
described below specifying its election as to which of the options under
Section 15(a)(ii) of this Lease the Lessee intends to exercise upon the
applicable Lease Termination Date:

(x)            in
the case of a termination on the Scheduled Lease Termination Date, the Lessee
shall give the Lessor notice of such election on any date that is not less than
12 months and no more than 18 months prior to the then current Scheduled Lease
Termination Date; and

(y)           if
the Lessor (acting, in accordance with Section 9.02(f) of the Investment
Agreement, of its own accord or at the direction of the Majority Funding
Parties) elects to terminate this Lease due to a Limited Recourse Event of
Default, the Lessee shall give the Lessor notice of such election within 5
Business Days of the date the Lessee receives such written notice of the Lessor’s
election to terminate this Lease due to such Limited Recourse Event of Default.

                In the event the
Lessee fails to give timely written notice of such election to the Lessor on or
before the dates herein provided, the Lessee shall be deemed to have elected to
purchase the Facility on the Lease Termination Date for the Purchase Price.

Section 3.  Payments.

(a)           Basic Rent.  The Lessee shall pay to the Lessor on the
Rent Payment Date for each Rental Period the amount of Basic Rent due for such
Rental Period during the Basic Term.

(b)           Final Rent Payment.  On the earlier to occur of the Scheduled
Lease Termination Date or the Option Date, Lessee shall pay to the Lessor the
Final Rent Payment or, if the Company has elected to purchase the Facility, the
Purchase Price.

(c)           Supplemental Rent.  In addition to Basic Rent and the Final Rent
Payment, the Lessee will also pay to the Lessor, from time to time, within 10
Business Days after demand by the Lessor, or otherwise as and when due pursuant
to the Operative Documents, as additional rent (“Supplemental Rent”) the
following (but without duplication of any amounts included in the calculation
of Rent):

 2
 

(i)
all out-of-pocket costs and expenses reasonably incurred by the Lessor and the
Administrative Agent in connection with the preparation, negotiation, execution,
delivery, performance and administration of this Lease and the other Operative
Documents, including, but not limited to, the following: (A) fees and expenses
of the Lessor and the Administrative Agent, including, without limitation,
reasonable attorneys’ fees and expenses and the fees and expenses for the
Approved Appraisal, the Related Contracts, and the Survey, the Environmental
Assessment, the title policy referred to in Section 6.01(k) of the Investment
Agreement; (B) all other amounts owing to the Lessor, the Administrative Agent,
and the Lease Participants pursuant hereto or any other Operative Documents,
including, without limitation, the Upfront Supplemental Rent, the Arranger’s
Supplemental Rent and the Administrative Supplemental Rent payable pursuant to
Section 2.04 of the Investment Agreement, and all fees, indemnities, expenses,
compensation in respect of increased costs of any kind or description payable
under the Investment Agreement or any other Operative Document; (C) all yield
maintenance, capital adequacy and other costs contemplated under Article V of
the Investment Agreement, and (D) all out-of-pocket costs and expenses incurred
by the Lessor or the Administrative Agent (and, in the case of clause (3)
below, any Lease Participant) after the date of this Lease (including, without
limitation, reasonable attorneys’ fees and expenses and other expenses and
disbursements reasonably incurred) associated with (1) negotiating and entering
into, or the giving or withholding of, any future amendments, supplements,
waivers or consents with respect to this Lease; (2) any Loss Event, Casualty
Occurrence or termination of this Lease; and (3) any Default or Event of
Default and the enforcement and preservation of the rights or remedies of the
Lessor under this Lease and the other Operative Documents and all reasonable
costs and expenses incurred by the Lessor or the Administrative Agent or any of
their affiliates in syndicating to Lease Participants on or about the
Restatement Closing Date all or any part of its interests under the Operative
Documents, including, without limitation, the related reasonable fees and
out-of-pocket expenses of counsel for the Lessor, the Administrative Agent, or
their affiliates, travel expenses, duplication and printing costs and courier
and postage fees, and excluding any fees paid to the Lessor or any Lease
Participant purchasing such an interest after the Restatement Closing Date; and

(ii)
all other amounts that the Lessee agrees herein to pay other than Basic Rent,
the Final Rent Payment and amounts described in clause (i) above.

(d)           Computations.  All computations of Basic Rent shall be made
by the Lessor on the basis of a year of 360 days (or, in the case of
computations based on the Base Rate, 365/366 days), in each case for the actual
number of days (including the first day but excluding the last day) occurring
in the Rental Period for which such Basic Rent payments are payable.  Whenever any payment hereunder shall be
stated to be due on a day other than a Business Day, such payment shall be made
on the next succeeding Business Day, and such extension of time shall in such
case be included in the computation of payment of Rent; provided, however,
that if

 3
 

such extension would cause payment of Basic Rent to be
made in the next following calendar month, such payment shall be made on the
next preceding Business Day.

(e)           No Offsets.  This Lease is an absolute net lease, and Rent
and all other sums payable by the Lessee hereunder shall be paid without notice
except as otherwise expressly provided herein, and the Lessee shall not be
entitled to any abatement, reduction, setoff, counterclaim, defense or
deduction with respect to any Rent or other sums payable hereunder.  The obligations of the Lessee to pay Rent and
all other sums payable hereunder shall not be affected by reason of: (i) any
damage to, or destruction of, the Facility or any part thereof by any cause
whatsoever (including, without limitation, fire, casualty or act of God or
enemy or any other force majeure event); (ii) any condemnation, including,
without limitation, a temporary condemnation of the Facility or any part
thereof; (iii) any prohibition, limitation, restriction or prevention of the
Lessee’s use, occupancy or enjoyment of the Facility or any part thereof by any
Person (other than by the Lessor in violation of this Lease); (iv) any matter
affecting title to the Facility or any part thereof; (v) any eviction of the
Lessee from, or loss of possession by the Lessee of, the Facility or any part
thereof, by reason of title paramount or otherwise (other than by the Lessor in
violation of this Lease); (vi) any default by the Lessor hereunder or under any
other Operative Document; (vii) the invalidity or unenforceability of any
provision hereof or the impossibility or illegality of performance by the
Lessor or the Lessee or both; (viii) any action of any Governmental Authority;
or (ix) any other Loss Event, Casualty Occurrence or other cause or occurrence
whatsoever, whether similar or dissimilar to the foregoing.  The Lessee shall remain obliged under this
Lease in accordance with its terms and shall not take any action to terminate,
rescind or avoid this Lease, except as expressly provided in Section 15,
notwithstanding any bankruptcy, insolvency, reorganization, liquidation,
dissolution or other proceeding affecting the Lessor or any action with respect
to this Lease which may be taken by any trustee, receiver or liquidator or by
any court.  The Lessee waives all rights to
terminate or surrender this Lease, except as expressly provided in Section 15,
or to any abatement or deferment of Rent or other sums payable hereunder.  The Lessee hereby waives any and all rights
now or hereafter conferred by law or otherwise to modify or to avoid strict
compliance with its obligations under this Lease.  All payments made to the Lessor hereunder as
required hereby shall be final and irrevocable, and the Lessee shall not seek
to recover any such payment or any part thereof for any reason whatsoever,
absent manifest error.

(f)            Taxes.  Subject to the Lessee’s contest rights under
Section 13, all payments of Rent and all other amounts to be paid by the Lessee
hereunder to the Lessor shall be made without deduction for, and free from, any
taxes, imposts, levies, duties, deductions or withholdings of any nature now or
at any time hereafter imposed by any Governmental Authority or by any taxing
authority thereof or therein imposed or levied upon, assessed against or
measured by any Rent or other sums payable hereunder excluding taxes imposed on
or measured by the net income or net worth of the Lessor or any Lease
Participant and franchise taxes imposed on the Lessor or any Lease Participant,
and any tax arising by reason of a connection between the Lessor or any Lease
Participant or the jurisdiction of the Lessor or any Lease Participant or the
Applicable Funding Office of the Lessor or any Lease Participant and the
jurisdiction imposing such tax (all such non-excluded taxes, imposts, levies,
duties, deductions or withholdings of any nature being “Taxes”).  In the event that the Lessee is required by
applicable law to make any such withholding or deduction of Taxes with respect
to any Rent or other amount, the Lessee shall pay such deduction or withholding
to the applicable taxing authority, shall promptly furnish to the Lessor or
such Lease Participant in respect of which such deduction

 4
 

or withholding is made all receipts and other
documents evidencing such payment and shall pay to the Lessor or such Lease
Participant additional amounts as may be necessary in order that the amount
received by the Lessor or such Lease Participant after the required deduction
or withholding shall equal the amount the Lessor or such Lease Participant
would have received had no such deduction or withholding been made.  In addition, the Lessee agrees that it will
promptly pay all other Impositions imposed upon or levied or assessed against
the Facility or any part thereof, or against the Lessor or any Lease
Participant in connection with the transactions contemplated by this Lease and
the other Operative Documents, or any sums levied in connection with the
execution, delivery or recording of the Operative Documents, and will furnish
to the Lessor or any Lease Participant upon request copies of official receipts
or other proof evidencing such payment; provided, however, that
the Lessee shall not be obligated to pay (i) any Impositions that are excluded
from the definition of Taxes; or (ii) any Impositions attributable to the gross
negligence or willful misconduct of the Lessor or any Lease Participant. The
Lessee further agrees that, subject to its contest rights under Section 13, it
will, at its expense, do all things required to be done by the Lessor in
connection with the levy, assessment, billing or payment of any Impositions
that it is required to pay pursuant to the preceding sentence, and is hereby
authorized by the Lessor or any Lease Participant to act for and on its behalf
in any and all such respects and to prepare and file, on behalf of the Lessor or
any Lease Participant, all tax returns and reports required to be filed by the
Lessor or any Lease Participant (other than federal income tax returns and
documents related thereto, subject to Section 25) concerning the Facility.  The Lessee’s payment obligations under this

Section 3(f) shall survive the termination of this Lease.  In the event that any withholding or
deduction from any payment to be made by the Lessee hereunder is required in
respect of any Imposition pursuant to any Governmental Requirement, then the
Lessee will:

(1)           pay
directly to the relevant Governmental Authority the full amount required to be
so withheld or deducted;

(2)           promptly
forward to the Lessor, if available, an official receipt or other documentation
satisfactory to the Lessor evidencing such payment to such Governmental
Authority; and

(3)           pay
to the Lessor or any Lease Participant, as applicable, such additional amount
or amounts as is necessary to ensure that the net amount actually received by
the Lessor or such Lease Participant will equal the full amount the Lessor or
such Lease Participant would have received had no such withholding or deduction
been required.

(g)           Payments to the
Lessor; Payments to the Administrative Agent on Lessor’s Behalf.  The Lessee acknowledges and agrees that,
pursuant to Section 10.02 of the Investment Agreement, Lessor and the Lease
Participants have appointed the Administrative Agent to, among other things,
receive on their behalf and for their account all payments which are otherwise
to be made directly to Lessor or the Lease Participants, as applicable, under
the Operative Documents and to disburse on behalf of Lessor all payments which
are otherwise to be made by Lessor under the Operative Documents, and Lessee
agrees that it shall pay all amounts due under this Lease to the Lessor or the
Lease Participants directly to the Administrative Agent on the Lessor’s or
Lease Participants’ behalf, as applicable, and for the Lessor’s or Lease
Participants’ account, as applicable. 
Receipt of any such payments by the Administrative Agent shall
constitute constructive receipt thereof by the Lessor or the Lease
Participants, as applicable.  All such
payments required to be made to the Lessor shall be made not later than 1:00
P.M.,

 5
 

Charlotte, North Carolina, time, on the date due, in
immediately available funds, to such account as the Lessor shall specify from
time to time by notice to the Lessee. 
Whenever any payment to be made shall otherwise be due on a day which is
not a Business Day, except as otherwise expressly provided herein or in the
Investment Agreement, such payment shall be made on the next succeeding
Business Day and such extension shall be included in computing Rent, interest,
yield and fees, if any, in connection with such payment.

(h)           Default Rate.  The Lessee shall pay on demand to the Lessor
interest at the Default Rate on all amounts payable by the Lessee to the Lessor
hereunder or under the Operative Documents in respect of overdue principal of,
Yield on, and other amounts owing in respect of all Rent and all other amounts
payable under this Lease, the Investment Agreement or any of the other
Operative Documents, from the due date thereof until paid in full.

Section 4.  Anti-Terrorism
Laws.  Lessee shall, at its expense,
comply with all Anti-Terrorism Laws and will comply in all respects with all
terms and conditions set forth in the Investment Agreement relating to
Anti-Terrorism Laws, all of which are incorporated herein by this reference.

Section 5.  Title
to Facility.  Title to all components
of the Facility are vested in and shall remain in the Lessor, and such
components shall be subject to the terms and conditions of this Lease.

Section 6.  Title
to Remain in the Lessor.  The Lessor
shall own 100% of the ground lease of the Site and the legal and beneficial
interest in the remainder of the Facility. 
All accessories, equipment, parts, fixtures and devices affixed or
placed on the Facility from time to time by the Lessee, other than “Excluded
Equipment,” and all modifications, alterations, renovations or improvements
to the Facility made by the Lessee shall be and become part of the Facility for
the purposes of this Lease and shall be Property of the Lessor subject to the
terms of this Lease; provided that the Lessor’s interest in any part of the
Facility that is replaced by the Lessee pursuant to and as permitted by the
terms of this Lease shall be deemed released from this Lease (and the
Collateral) and thereupon become the Property of the Lessee automatically,
without further action by the Lessor, and the Lessor shall perform all acts and
execute all documents that the Lessee reasonably requests to give effect to the
foregoing at the expense of the Lessee, including the execution and delivery of
bills of sale and other documents of transfer. 
This Lease shall not give or grant to the Lessee any right, title or
interest in or to the Facility, except the rights expressly conferred by this
Lease.  The term “Excluded Equipment”
shall mean any computer equipment, telephone equipment, copier equipment,
facsimile equipment or other office equipment which is (i) acquired by the
Lessee with its own funds or leased under separate lease agreements from third
party lessors and not acquired in whole or in part with the proceeds of Lessor
Investments, and (ii) does not constitute a modification or replacement of or
supplement or accession to any part of the Facility.

Section 7.  Maintenance of the Facility; Operations.

(a)           The Lessee shall, and it
shall require and cause any and all employees, contractors, subcontractors,
agents, representatives, affiliates, consultants and occupants at the Lessee’s
own cost and expense to: (i) cause the Facility to be maintained in all
material respects in good operating order, repair and condition, in accordance
with prudent industry practice and any applicable manufacturer’s or supplier’s
manuals or warranties, subject to normal wear and

 6
 

tear, and take all action, and make all changes and
repairs, structural and non-structural, foreseen and unforeseen, ordinary and
extraordinary, which are required pursuant to any Governmental Requirement or
Insurance Requirement at any time in effect to assure full compliance therewith
in all material respects; and (ii) do all things necessary to prevent the
incurrence of any Environmental Damages or Environmental Liabilities relating
to the Facility or any business conducted in or relating to the Facility or the
Site, and cause the Facility to continue to have at all times, in all material
respects, and in compliance with all applicable Governmental Requirements and
Insurance Requirements, the capacity and functional ability to perform, on a
continuing basis (subject to normal interruption in the ordinary course of
business for maintenance, inspection, service, repair and testing) and in
commercial operation, the functions for which it was designed as specified in
the Facility Plan and to be utilized commercially for the Permitted Use.

(b)           The Lessee shall, and it
shall require and cause any and all employees, contractors, subcontractors,
agents, representatives, affiliates, consultants and occupants at the Lessee’s
own cost and expense to, promptly replace, or cause to be replaced, any part of
the Facility which may from time to time be incorporated or installed in or
attached to the Facility, and which may from time to time become worn out,
lost, stolen, destroyed, seized, confiscated, damaged beyond repair, obsolete
or permanently rendered unfit for use for any reason whatsoever.  All replacement parts shall be free and clear
of all Liens other than Permitted Liens, and, except for temporary accessions
and replacement parts utilized pending installation of permanent replacement
parts, shall be of a type customarily used in the industry at such time for
such purpose, shall be in as good operating condition as, and shall have a
utility and useful life at least equal to, the parts replaced (assuming such
replaced parts were in the condition and repair required to be maintained by
the terms hereof) and shall have a value at least equal to the parts replaced
(assuming such replaced parts were in the condition and repair required to be
maintained by the terms hereof).

(c)           Notwithstanding the
provisions of Section 8 and the foregoing provisions of this Section 7, the
Lessee shall not (except as may be required by any Governmental Requirement)
remove, replace or alter any part of the Facility or affix or place any
accessory, equipment, part or device on any part of the Facility, if such
removal, replacement, alteration or addition would impair the originally
intended function or use of the Facility so as to materially reduce the value
of the Facility taken as a whole, or materially decrease the estimated useful
life of the Facility.

(d)           The Lessor shall not be
required in any way to maintain, repair or rebuild the Facility or any part
thereof and the Lessee waives any right it may now or hereafter have to make
any repairs at the expense of the Lessor pursuant to any Governmental
Requirement at any time in effect or otherwise.

(e)           The Lessee shall, and it
shall require and cause any and all employees, contractors, subcontractors,
agents, representatives, affiliates, consultants and occupants at the Lessee’s
own cost and expense to: (i) comply in all material respects with all
applicable Environmental Requirements with regard to the Facility and all parts
thereof; and (ii) use, employ, process, emit, generate, store, handle,
transport, dispose of and/or arrange for the disposal of, any and all Hazardous
Materials in, on or, directly or indirectly, related to or in connection with
the Facility or any part thereof in a manner consistent with prudent industry
practice and in compliance with any applicable Environmental Requirement.  The Lessor and the Lessee hereby acknowledge
and agree that the Lessee’s obligations hereunder with respect to

 7
 

Environmental Requirements are intended to bind the
Lessee with respect to matters and conditions involving the Facility or any
part thereof.

Section 8.  Modifications.

(a)           The Lessee shall make no
modifications, alterations, renovations or improvements to the Facility without
the prior written consent of the Lessor, provided however, that subject to the
terms of Section 8(b), the Lessee shall have the right to make modifications,
alterations, renovations or improvements to the Facility so long as such
modifications, alterations, renovations or improvements do not (except as may
be required by any Governmental Requirement) (i) materially reduce the value of
the Facility as a whole; (ii) materially and adversely affect the capacity and
performance of the Facility on a continuing basis in commercial operation of
the function for which the Facility was designed as specified in the Facility
Plan; (iii) materially deviate from the Facility Plan; or (iv) materially and
adversely affect the estimated useful life of the Facility.  Within 20 Business Days of the end of each
calendar quarter, an Authorized Officer of the Lessee shall deliver to the
Lessor a schedule certifying to the Lessor’s reasonable satisfaction: (x) the
nature of the repairs, replacements, modifications, alterations, renovations or
improvements to the Facility made during such quarter having a cost of at least
$500,000 at the time made, and (y) that the Facility continues to have, in all
material respects, the capacity and functional ability to perform on a
continuing basis (subject to normal interruption in the ordinary course of
business for maintenance, inspection, service, repair and testing) and in
commercial operation, the functions for which it was designed as specified in
the Facility Plan or, if not, specifying the reason for any such deficiency,
including, without limitation, the occurrence and nature of any Loss Event or
Casualty Occurrence with respect to the Facility.

(b)           If the Lessee determines
that any part of the Facility is no longer necessary for the performance of the
Facility on a continuing basis in commercial operation of the function for
which the Facility was designed as specified in the Facility Plan, then the
Lessee (except when such action or removal may be required by any applicable
Governmental Requirement, in which event, the Lessee shall promptly give the
Lessor notice of such action or removal) shall give the Lessor at least 30 days’
notice prior to taking any action as the result of such determination and shall
not remove any such part unless and until the Lessor has determined that (i)
such part is no longer necessary for the performance of the Facility on a
continuing basis in commercial operation of the function for which the Facility
was designed in all material respects as specified in the Facility Plan, (ii)
removal of such part does not materially reduce the value of the Facility as a
whole, and (iii) removal of such part does not materially decrease the
estimated useful life of the Facility. 
This Section 8(b) shall not apply to worn out or obsolete Property or
damaged Property (to the extent such damage does not constitute a Casualty
Occurrence or Loss Event) removed and replaced by the Lessee in accordance with
Section 7(b).

Section 9.  Further
Assurances.  The Lessee, at its
expense, shall execute, acknowledge and deliver from time to time such further
counterparts of this Lease or a memorandum of this Lease acceptable to the
Lessor or such affidavits, certificates, certificates of title, bills of sale,
financing and continuation statements, consents and other instruments as may be
required by applicable law or reasonably requested by the Lessor in order to
evidence the Lessor’s ground lease of the Site and title to the remainder of  the Facility and the Lessor’s interests in
this Lease, and shall, at the Lessee’s expense, cause such documents to be
recorded, filed or registered in such places as the Lessor reasonably may
request and to be re-recorded,

 8
 

refiled or re-registered in such places as may be
required by applicable law or at such times as may be required by applicable
law in order to maintain and continue in effect the recordation, filing or
registration thereof.  The Lessor shall
not grant or create any Lien on the Facility to any Person except Permitted
Liens, Liens in favor of the Lessor (for itself and in trust for the Lease
Participants) and Liens pursuant to this Lease, the Security Instruments and
the other Operative Documents.

Section 10.  Compliance
with Governmental Requirements and Insurance Requirements: Related Contracts.  The Lessee, at its expense, will comply with
all Governmental Requirements applicable to the Facility or any part thereof or
the ownership, construction, operation, mortgaging, occupancy, possession, use,
non-use or condition of the Facility or any part thereof, all Insurance
Requirements, and all instruments, contracts or agreements affecting title to
ownership of the Facility or any part thereof. 
In addition, the Lessee (as Lessee under this Lease or as Lessor’s agent
in accordance with Section 8.30 of the Investment Agreement), so long as Lessor
(acting, in accordance with Section 9.02(a) of the Investment Agreement, of its
own accord or at the direction of the Majority Funding Parties) has not
commenced the exercise of remedies under the Operative Documents, is hereby
authorized by the Lessor to, and shall, fully and promptly keep, observe,
perform and satisfy on behalf of the Lessor any and all obligations,
conditions, covenants and restrictions of or on the Lessor or the Lessee under
any and all Related Contracts so that there will be no default thereunder and
so that the other parties thereunder shall be, and remain at all times, obliged
to perform their obligations thereunder, and the Lessee, to the extent within
its control, shall not permit to exist any condition, event or fact that could
allow or serve as a basis or justification for any such Person to avoid such
performance.

Section 11.  Condition and Use of Facility; Quiet
Enjoyment.

(a)           THE FACILITY IS LEASED AND THE LESSEE ACCEPTS AND
TAKES POSSESSION OF THE FACILITY AS IS, WHERE IS, AND WITH ALL FAULTS AND IN
THE CONDITION THEREOF AND SUBJECT TO THE RIGHTS OF ANY PARTIES IN POSSESSION
THEREOF, THE STATE OF THE TITLE THERETO, THE RIGHTS OF OWNERSHIP THEREIN AND
SUBJECT TO ALL GOVERNMENTAL REQUIREMENTS NOW IN EFFECT OR HEREAFTER ADOPTED, IN
EACH CASE AS IN EXISTENCE WHEN THE SAME FIRST BECOMES SUBJECT TO THIS LEASE,
WITHOUT REPRESENTATIONS AND WARRANTIES OF ANY KIND AS TO TITLE BY THE LESSOR
(OTHER THAN, AS TO THE LESSOR, THE ABSENCE OF ANY “LESSOR LIENS,” AS DEFINED IN
SECTION 16(a) HEREOF), ANY LEASE PARTICIPANT OR ANY PERSON ACTING ON BEHALF OF
ANY OF THEM.  THE LESSEE ACKNOWLEDGES AND
AGREES THAT THE FACILITY HAS NOT BEEN SELECTED BY THE LESSOR, ANY LEASE
PARTICIPANT, ARRANGER, OR ADMINISTRATIVE AGENT THAT NONE OF THE LESSOR, ANY
LEASE PARTICIPANT, ARRANGER, OR ADMINISTRATIVE AGENT HAS SUPPLIED ANY
SPECIFICATIONS WITH RESPECT TO THE FACILITY AND THAT NONE OF THE LESSOR, ANY
LEASE PARTICIPANT, ARRANGER, OR ADMINISTRATIVE AGENT (I) IS A VENDOR OF, OR
MERCHANT OR SUPPLIER WITH RESPECT TO, ANY OF THE PROPERTY COMPRISING THE
FACILITY OR ANY PROPERTY OF SUCH KIND, (II) HAS MADE ANY RECOMMENDATION, GIVEN
ANY ADVICE OR TAKEN ANY OTHER ACTION WITH RESPECT TO THE

 9
 

CHOICE OF ANY MANUFACTURER, SUPPLIER
OR TRANSPORTER OF, OR ANY VENDOR OF OR OTHER CONTRACTOR, INCLUDING, WITHOUT
LIMITATION, WITH RESPECT TO PROPERTY COMPRISING THE FACILITY, (III) HAS AT ANY
TIME HAD PHYSICAL POSSESSION OF ANY SUCH PROPERTY, (IV) HAS MADE OR IS MAKING
ANY WARRANTY, EXPRESS OR IMPLIED, RELATING TO THE FACILITY, INCLUDING WITHOUT
LIMITATION, WITH RESPECT TO TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE OR OTHERWISE, THE DESIGN, CONDITION, QUALITY OF MATERIAL OR
WORKMANSHIP, CONFORMITY TO SPECIFICATIONS, FREEDOM FROM PATENT OR TRADEMARK
INFRINGEMENT, ABSENCE OF ANY LATENT OR OTHER DEFECTS, WHETHER OR NOT
DISCOVERABLE, WHETHER ARISING PURSUANT TO THE UCC OR ANY OTHER PRESENT OR
FUTURE LAW OR OTHERWISE, OR COMPLIANCE WITH APPLICABLE PERMITS OR OTHER
GOVERNMENTAL REQUIREMENTS, OR (V) SHALL BE LIABLE FOR INCIDENTAL OR
CONSEQUENTIAL DAMAGES (INCLUDING LIABILITY IN TORT, STRICT OR OTHERWISE).  IN THE EVENT OF ANY DEFECT OR DEFICIENCY OF
ANY NATURE IN THE FACILITY OR ANY PROPERTY OR OTHER ITEM CONSTITUTING A PART
THEREOF, WHETHER PATENT OR LATENT, NONE OF THE LESSOR, ANY LEASE PARTICIPANT,
ARRANGER, OR ADMINISTRATIVE AGENT SHALL HAVE ANY RESPONSIBILITY OR LIABILITY
WITH RESPECT THERETO.  THE PROVISIONS OF
THIS SECTION 11 HAVE BEEN NEGOTIATED AND ARE INTENDED TO BE A COMPLETE
EXCLUSION AND NEGATION OF ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, BY THE
LESSOR, THE LEASE PARTICIPANTS, ARRANGER, AND ADMINISTRATIVE AGENT WITH RESPECT
TO THE FACILITY OR ANY PROPERTY OR OTHER ITEM CONSTITUTING A PART THEREOF,
WHETHER ARISING PURSUANT TO THE UCC OR ANY OTHER LAW NOW OR HEREAFTER IN
EFFECT.

(b)           The Lessor hereby
assigns to the Lessee, until the occurrence of a Cancellation Event or
Termination Event hereunder, the benefits in respect of any Vendor’s warranties
or undertakings, express or implied, relating to the Facility (including any
labor, equipment or parts supplied therewith), and, to the extent assignment of
the same is prohibited or precludes enforcement of any such warranty or
undertaking, the Lessor hereby subrogates the Lessee to its rights in respect
thereof.  The Lessor hereby authorizes
the Lessee, at the Lessee’s expense, to assert any and all claims and to
prosecute any and all suits, actions and proceedings, in its own name or in the
name of the Lessor, in respect of any such warranty or undertaking and, except
during the continuance of an Event of Default, or after the occurrence of a
Cancellation Event or Termination Event hereunder, to retain the proceeds
received, and after the termination of this Lease or after the occurrence of a
Cancellation Event or Termination Event, to pay the same in the form received
(with any necessary endorsement) to the Lessor.

(c)           The Lessee may use the
Facility for the Permitted Use provided that the value of the Facility is not
diminished by any such use other than as a result of normal wear and tear in
the ordinary course of business.  During
the term of this Lease, the Lessor covenants that unless a Cancellation Event or
a Termination Event has occurred and is continuing and except as may arise
under a Permitted Lien or as may otherwise be contemplated under the Operative
Documents, the Lessor will not, and will not permit any party claiming by,
through or under the Lessor to, interfere with the peaceful and quiet
possession and enjoyment of the Facility by the

 10
 

Lessee; provided, however, that the
Lessor and the Lease Participants and their respective successors, assigns,
representatives and agents may, upon reasonable notice to the Lessee, enter
upon and examine the Facility or any part thereof at reasonable times, subject
to the provisions of Section 19; and provided further, however,
that the Lessor is not hereby warranting the state or quality of the title to
any part of the Facility.  Any failure by
the Lessor to comply with the foregoing provisions of this Section 11(c) shall
not give the Lessee any right to cancel or terminate this Lease, or to abate,
reduce or make reduction from or offset against any Rent or other sum payable
under this Lease or any other Operative Document, or to fail to perform or
observe any other covenant, agreement or obligation hereunder or
thereunder.  The Lessee will not do, or
fail to do, or permit or suffer to exist any act or thing, which action or
thing or failure might impair the value, use or usefulness of the Facility for
the Permitted Use in accordance with the design of the Facility, ordinary wear
and tear excepted.

Section 12.  Liens.  The Lessee will not directly or indirectly
create, or permit to be created or to remain, and at the Lessee’s expense will
discharge within 30 days of notice of the filing or assertion thereof, by bond,
deposit or otherwise, any Lien upon the Lease or the Facility except (i) any
Lien being contested as permitted by and in accordance with Section 13, or (ii)
Permitted Liens.  The Lessor agrees that
the Lessee shall have during the term of this Lease the exclusive right (so
long as no Event of Default has occurred and is continuing) to grant, create or
suffer to exist Permitted Liens in the ordinary course of business and in
accordance with prudent industry practices, provided that the fair market value
or use of the Facility or the applicable part thereof for the Permitted Use is
not materially lessened thereby.  The
Lessor agrees to execute such documents and take all other actions as shall be
reasonably necessary, and otherwise to cooperate with the Lessee in connection
with the matters described above, provided that all reasonable out-of-pocket
costs and expenses (including, without limitation, reasonable attorneys’ fees
and expenses) incurred by the Lessor in connection therewith shall be borne by
the Lessee, and the Lessor shall not be required to execute any document that
would, in the opinion of the Lessor, materially and adversely affect the value
or use of the Facility or any part thereof for the Permitted Use or otherwise
materially and adversely affect the transactions contemplated by the Operative
Documents or the interests of the Lessor or the Lease Participants in the
Facility or under the Operative Documents or otherwise.

(a)           The Lessor will not
directly or indirectly create, or permit to be created or to remain, and will
discharge, any Lien of any nature whatsoever on, in or with respect to, its
interest in the Facility arising by or through it or its actions, except
Permitted Liens.

(b)           The Lessee will not
directly or indirectly sell, transfer, or otherwise dispose of its interest in
the Facility.

Section 13.  Permitted
Contests.  Notwithstanding any other
provision of this Lease to the contrary, after prior written notice to the
Lessor and provided there is no material risk of sale, forfeiture or loss of
the Facility or any material part thereof, the Lessee may at its expense
contest any Imposition which it is required to pay hereunder, by appropriate
proceedings conducted in good faith and with due diligence, so long as such
proceedings are effective to prevent the collection of such Imposition from the
Lessor or the Lease Participants or against the Facility or any part thereof
(or if such amounts have been paid by the Lessee under protest in connection
therewith); provided, however, that the actions of the Lessee, as
authorized by this Section 13, shall be subject to the express written consent
of the Lessor if such actions would subject the Lessor or any such Lease
Participant or the Facility or any part thereof to any liability

 11
 

or loss not indemnified in full by the Lessee
hereunder or any sanction, criminal or otherwise, for failure to pay any such
Imposition.  The Lessee will pay, and
save the Lessor and each such Lease Participant harmless against, all losses,
Judgments and reasonable costs, including reasonable attorneys’ fees and
expenses, in connection with any such contest and will, promptly after the
final determination of such contest, pay and discharge the amounts which shall
be imposed or determined to be payable therein, together with all penalties,
costs and expenses incurred in connection therewith.  The Lessee shall prevent any foreclosure,
judicial sale, taking, loss or forfeiture of the Facility or any part thereof,
or any interference with or deductions from any Rent or any other sum required
to be paid by the Lessee hereunder by reason of such nonpayment or nondischarge
of an Imposition.  The Lessor shall
cooperate with the Lessee in any contest and shall allow the Lessee to conduct
such contest (in the name of the Lessor, if necessary) at the Lessee’s sole
cost and expense; and the Lessee shall indemnify and hold the Lessor harmless
from and against all liabilities, costs and expenses in connection with such
contest.  The Lessee shall notify the
Lessor of each such proceeding within 10 days after the commencement thereof,
which notice shall describe such proceeding in reasonable detail.

Section 14.  Insurance, etc.

(a)           The Lessee will, at its
own expense, purchase and maintain, or cause to be purchased and maintained
throughout the term of this Lease, insurance with respect to its business and
the Facility in accordance with the requirements of Schedule 14.

(b)           The Lessee shall bear
all risk of loss (including any Loss Event or Casualty Occurrence), whether by
casualty, theft, taking, confiscation or otherwise, with respect to the
Facility or any part thereof, at all times during the term of this Lease until
possession of the Facility has been accepted by the Lessor pursuant to Section
17.

(c)           So long as no
Termination Event or Cancellation Event shall have occurred, any payments,
whether constituting insurance proceeds, amounts paid by any Governmental
Authority or otherwise, received by the Lessee or the Lessor upon the
occurrence of any loss with respect to the Facility or part thereof (other than
a Casualty Occurrence), whether as a result of casualty, theft, taking or other
confiscation, shall be applied in payment for necessary repairs and replacement
to the Facility in accordance with Section 7 or, to the extent the costs of
such repairs and replacement shall have been paid by the Lessee, to reimburse
the Lessee.  The Lessee shall be entitled
to retain any excess funds remaining after necessary repairs and replacements
have been completed and all costs therefor paid in full.  Upon the occurrence of any Termination Event
or Cancellation Event, the Lessor shall be entitled to receive and retain any
such payments for application to the obligations of the Lessee hereunder.

(d)           Upon a Casualty
Occurrence, the Lessee shall give prompt notice thereof to the Lessor and shall
within 60 days of the date of such Casualty Occurrence either (i) offer to
purchase the whole of the Facility for the Purchase Price as provided in
Section 15(b)(ii), or (ii) provide the Lessor with a replacement plan
acceptable to the Lessor setting forth how the Lessee shall replace, or cause
to be replaced, at the Lessee’s own cost and expense, in no event later than
the Scheduled Lease Termination Date such part of the Facility that is the
subject of a Casualty Occurrence in accordance with this Section 14(d) and
Section 7.  If the Lessee chooses the
option set forth in clause (ii) of the preceding sentence, within the later to
occur of (x) 60 days after the date of the Casualty Occurrence and (y)
satisfaction of all applicable Governmental Requirements, and obtaining all
authorizations of Governmental Authorities, required therefor

 12
 

(but in no event later than 180 days after the date of
the Casualty Occurrence), the Lessee shall have commenced repairs or
replacements as specified in the replacement plan and shall thereafter proceed
diligently with such repairs and replacements to completion.  After completion of the repairs and
replacements, the Lessee shall demonstrate to the satisfaction of the Lessor
that operations, capacity and production from the Facility have been restored
to the standards required for “Completion” (as such term was defined and used
in the Original Lease Documents).

(e)           All replacement Property
of the Facility (other than temporary replacement parts and equipment installed
pending installation of permanent replacement Property) installed pursuant to
Section 14(d) shall be free and clear of all Liens except Permitted Liens, and
shall be in as good operating condition as, and shall have a value and utility
at least equal to, the Property replaced immediately prior to the Casualty Occurrence
to which such Property was subject.  For
purposes of this Lease (including without limitation Section 14(d) and Section
7), the Funded Amount and book value of the replacement Property shall be
deemed to equal the Funded Amount and book value of the part(s) replaced
thereby.  All Property of the Facility at
any time removed from this Lease pursuant to Section 14(d) and Section 7 shall
remain the property of the Lessor, no matter where located, until such time as insurance
proceeds have been received by the Lessor at least equal to the book value of
such part of the Facility or such part shall be replaced by suitable items that
have been incorporated or installed on or attached to the Facility and that
meet the requirements specified above. 
Immediately upon any permanent replacement Property becoming
incorporated or installed on or attached to the Facility as provided above,
without further act, such permanent replacements shall become subject to this
Lease and be deemed part of the Facility for all purposes hereof to the same
extent as any other parts of the Facility. 
All amounts of insurance proceeds for Property losses and all other
proceeds (whether resulting from damage or destruction or from condemnation,
confiscation or seizure) relating to the Facility shall be held and released,
together with accrued interest thereon, as hereinafter provided.  So long as a Cancellation Event or
Termination Event shall not have occurred, and provided that the Lessor shall
have received a written application of the Lessee accompanied by a certificate
of an Authorized Officer of the Lessee showing in reasonable detail the nature
of any necessary repair, rebuilding and restoration, the actual cash
expenditures necessary for such repair, rebuilding and restoration, the
expected total expenditures required to complete such work and evidence that
sufficient funds are or will be available to complete such work on a timely
basis (such certificate to be acceptable to the Lessor in all respects), then
the amount of such proceeds, together with accrued interest thereon, shall be
released by the Lessor immediately upon receipt of such certification or, if
applicable, from time to time on the last Business Day of each month during the
period of repair, rebuilding and restoration in payment therefor against
presentation to the Lessor of a certificate executed by an Authorized Officer
of the Lessee to the effect that expenditures have been made, or costs
incurred, by or for the account of the Lessee or are reasonably anticipated to be
made during the immediately following one month period in a specified amount
for the purposes of making repairs, rebuilding and restoration in the amounts
specified, that no Event of Default, Cancellation Event or Termination Event
exists and all conditions precedent herein provided relating to such withdrawal
and payment have been satisfied.  Upon
the occurrence of any Termination Event or Cancellation Event, the Lessor shall
be entitled to retain all such proceeds for application to the obligations of the
Lessee hereunder.

 13

(f)                                  If
any Loss Event or Casualty Occurrence shall occur, the Lessee shall promptly
notify the Lessor of such event in writing.

Section 15.  Termination; Cancellation; Purchase Option.

(a)                                (i)
                                  The
termination of this Lease (A) on the Scheduled Lease Termination Date or (B) by
reason of the occurrence of a Limited Recourse Event of Default and the
delivery by the Lessor (acting, in accordance with Section 9.02(f) of the
Investment Agreement, of its own accord or at the direction of the Majority
Funding Parties) to the Lessee of a notice stating that the Lessor elects to
terminate this Lease by reason of the occurrence of such Limited Recourse Event
of Default, in which case the Lease Termination Date will be the 5th Business
Day after the date of delivery of said notice to the Lessee, shall be a “Termination
Event,” the effect of which shall be to cause this Lease to terminate on
the applicable Lease Termination Date.

(ii)                                If a Termination Event
occurs, the Lessee, on the Lease Termination Date, shall, in accordance with
the terms of Section 2(b), without further notice or demand to the Lessee,
either

(A)                              purchase
the Facility from the Lessor for the Purchase Price; or

(B)                                so
long as no Cancellation Event has occurred:

(i)                                   pay
to the Lessor the Final Rent Payment and provide to the Lessor a satisfactory
update of the Environmental Assessment; and

(ii)                                attempt to sell (until
such time as the Lessor shall have terminated, in accordance with Section 8.30
of the Investment Agreement, the Lessee’s obligation to so attempt to sell the
Facility), subject to the Lessor’s prior written approval, the Facility, as
agent for the Lessor, without recourse or warranty by the Lessor, to a Person
not affiliated with Lessee for a net cash purchase price not less than, and remit
to the Lessor the net cash sales proceeds equal to (unless otherwise approved
by all of the Funding Parties), the Termination Value less any amount paid
pursuant to 

Section 15(a)(ii)(B)(i), with Lessee’s being entitled to retain for its
own account the amount by which such proceeds exceed the Termination
Value.  The Lessor shall also have the
right (but not the obligation) to sell the Facility and/or solicit bids, each
in its sole and absolute discretion.

(b)                               (i)
                                  Each
of the following events shall be a “Cancellation Event”, the effect of
which shall be to cause this Lease to be terminated in accordance with the
following provisions on the “Cancellation Date” specified:

(A)                            the
occurrence of (1) a Lease Event of Default (other than a Lease Event of Default
under Section 17(a)(iv) hereof, a Lease Event of Default occurring by
virtue of an Event of Default under Section 9.01(h) or (i) of the Investment
Agreement, or a Limited Recourse Event of Default) and the delivery by the
Lessor to the Lessee of a notice stating that the Lessor (acting, in accordance
with Section 9.02(a) of the Investment Agreement, of its own accord or at the
direction of the Majority Funding Parties) elects to terminate this Lease by
reason of the existence of such Lease Event of Default, in which cases the
Cancellation Date will be the 5th Business Day after the date

 14
 

of delivery of
said notice to the Lessee, or (2) a Lease Event of Default under Section
17(a)(iv) hereof or a Lease Event of Default occurring by virtue of an Event of
Default under Section 9.01(h) or (i) of the Investment Agreement in which cases
the Cancellation Date shall occur immediately upon the occurrence of such Lease
Event of Default; or

(B)                              the
occurrence of a Loss Event, in which case the Cancellation Date shall be the
5th Business Day after such event occurs; or

(C)                              the
occurrence of a Casualty Occurrence in respect of the Facility and the failure
of the Lessee to purchase the Facility or to replace or repair the Facility or
such part thereof in accordance with, and within the time required by, Section
14(d), and the delivery by the Lessor (acting at the direction of the Majority
Funding Parties) to the Lessee of a notice after the expiration of such time
stating that the Lessor elects to terminate this Lease by reason of the
existence of such Casualty Occurrence, in which case the Cancellation Date
shall be the 5th Business Day after the date of delivery of said notice.

(ii)                                If
a Cancellation Event occurs, the Lessee, on the Cancellation Date, shall,
without further notice or demand to the Lessee, either (A) purchase the
Facility from the Lessor for the Purchase Price, or (B) pay to the Lessor the
Termination Value.

(c)                                The
Lessee may, from time to time and at any time following the 3rd anniversary of
the Lease Commencement Date, deliver to the Lessor notice of its intent to
terminate this Lease, in which case the Lessee shall purchase the Facility from
the Lessor for the Purchase Price on any Rent Payment Date that is not less
than 30 nor more than 60 days after such notice (the “Option Date”).  Upon payment in full of the Purchase Price,
this Lease shall terminate.

(d)                               This
Lease shall cease and terminate on the Lease Termination Date, and payment of
all amounts payable by the Lessee on such date, except with respect to (i)
obligations and liabilities of the Lessee, actual or contingent, which arose
under this Lease, or by reason of events or circumstances occurring or
existing, on or prior to its termination, and which have not been satisfied
(which obligations shall continue until satisfied and which include, but are
not limited to, obligations for Rent and the Termination Value, the Purchase
Price and amounts owing pursuant to Section 16), and (ii) obligations of the
Lessee which by the terms of this Lease expressly survive termination.  Promptly after either the Lessee or the
Lessor shall learn of the happening of any Termination Event or Cancellation
Event, such party shall give notice thereof to the other party hereto.

(e)                                In
the event the Lessee elects to purchase the Facility upon the occurrence of a
Termination Event (other than the expiration of this Lease on a Scheduled Lease
Termination Date) or a Cancellation Event, Lessee in its sole discretion in
order to ensure the orderly conveyance of the Facility may postpone the closing
date for such conveyance (whether or not extended, the “Purchase Closing
Date”) to a reasonable date within 60 days following the Lease Termination
Date or Cancellation Date, as applicable. 
The Lessor shall notify the Lessee of any such postponement and the
proposed extended Purchase Closing Date in writing on or before the Lease
Termination

 15
 

Date or
Cancellation Date, as applicable, and the Lessee shall be deemed to have been
granted a temporary license by the Lessor entitling the Lessee to retain
possession of the Facility through the Purchase Closing Date provided that the
Lessee complies with all obligations of the Lessee under this Lease as though
this Lease were still in full force and effect (including without limitation,
compliance with permitted use, maintenance and insurance coverage
requirements).  In the event of an
extension of the Purchase Closing Date as herein contemplated, the Purchase
Price will be calculated as of such extended Purchase Closing Date.  This Section 15(e) shall survive the
termination of this Lease.

Section
16.  Transfer of Title on Removal of
Facility; Expenses of Transfer.

(a)                                Upon
any sale or purchase of the Facility permitted by Section 15, the Lessor will
transfer to the Lessee or the appropriate Third Party all of its title to and
legal and beneficial ownership interest in the Facility (i) free and clear of
any Lien created by, through or under the Lessor other than Permitted Liens or
Liens created at the request of or as a result of the actions of the Lessee or
anyone acting by, through or under the Lessee, or a result of the failure of
the Lessee or the Guarantor to carry out any of their obligations under this
Lease or the other Operative Documents (individually and collectively, as the
context shall require, the “Lessor Liens”), and (ii) without recourse,
representation or warranty of any nature whatsoever (except as to the absence
of such Liens as aforesaid).

(b)                               Whenever
the Lessee has the right to purchase or transfer to itself the Facility
pursuant to any provision of this Lease, the Lessee may cause such purchase to
be effected by, or such transfer to be effected to, any other Person specified
by the Lessee, but in no event shall the Lessee be relieved from any of its
obligations hereunder as a result thereof.

(c)                                Upon
any sale or transfer of the Facility pursuant to any provision of this Lease,
the Lessee shall pay the expenses of the Lessor, including, without limitation,
reasonable attorneys’ fees and expenses, in connection with such sale or
transfer.

(d)                               If,
on the Lease Termination Date or on the Cancellation Date, as applicable, the
Lessee or any of its Affiliates has not elected to acquire the Facility, the
Lessee shall surrender the Facility to the Lessor free from all Liens except
Permitted Liens (other than those described in clause (ii)(b) of the definition
of Permitted Liens), in substantially the same operating condition (except for
ordinary wear and tear) with the remaining original estimated useful life
contemplated by the Facility Plan intact and having the same capacity and
efficiency as the Facility had on the Lease Commencement Date, and in
compliance in all material respects with all Governmental Requirements and
Insurance Requirements, and free of all Environmental Damages and Environmental
Liabilities.  To evidence the foregoing
and accomplish the surrender of the Facility, the Lessee shall provide the
following items (x) in the event of a Termination Event under Section 15(a)(i)(A)
within 9 months prior to the Lease Termination Date, with final confirmation of
the same at least 30 days but not more than 60 days prior thereto and (y) in
the event of a Termination Event under Section 15(a)(i)(B), as soon as
practicable but in any event at least 3 Business Days prior to the Lease
Termination Date or Cancellation Date, as applicable, all to be held until the
Lease Termination Date or Cancellation Date:

(i)
evidence satisfactory to the Lessor that all Applicable Permits, Related
Contracts, and all other rights and services reasonably required to operate the
Facility have been, or on or prior to the Lease Termination Date

 16
 

shall be,
transferred to the Lessor (or the Lessor has been, or on or prior to the Lease
Termination Date or Cancellation Date, as applicable, shall be, given the right
to use each such item) and can be transferred to (or used by) any successor or
assignee of the Lessor without further consent or approval by any Person
(subject only to normal Governmental Requirements);

(ii)
conveyancing, assignment, transfer, termination and other documents that, in
the sole discretion of the Lessor and the Lease Participants, are sufficient to
(A) vest in the Lessor (which it holds for itself and in trust for the Lease
Participants) good and marketable title to the Facility, free and clear of all
Liens except Permitted Liens (other than those described in clause (ii)(b) of
the definition of Permitted Liens) and (B) terminate the rights of the Lessee
and all other Persons in and to the Facility;

(iii)
evidence satisfactory to the Lessor that the Facility has been operated and
maintained substantially in accordance with the requirements of the Operative
Documents, all Governmental Requirements, all Applicable Permits and prudent
industry practices;

(iv)
evidence satisfactory to the Lessor that the Facility is being used solely for
the Permitted Use and is operating substantially in accordance with the
requirements set forth in the Facility Plan, meets or exceeds the original
design specifications and is capable of operating and being used for the
Permitted Use as set forth in the Facility Plan, and has the remaining original
estimated useful life contemplated by the Facility Plan;

(v)
evidence satisfactory to the Lessor, in its sole discretion, that (A) Lessee
has complied with its obligations under Section 8.30,  (B) all agreements and arrangements to
provide the services and rights contemplated by the Section 8.30 are in place,
executed by the parties thereto, and are valid, enforceable and in full force
and effect on or before the Lease Termination Date or Cancellation Date, as
applicable and (C) such agreements and arrangements adequately provide for the
services and other rights contemplated by Section 8.30;

(vi)
an updated Phase 1 Environmental Assessment; and

(viii)
such other documents, instruments, assessments, investigations, legal opinions,
surveys and other items as the Lessor may reasonably request to evidence to the
satisfaction of each of the Lessor and the Lease Participants (in each case, in
their sole discretion) that (A) the Lessor has all Property, services, Permits,
assets and rights necessary to own, operate and maintain the Facility from and
after the Lease Termination Date or Cancellation Date, as applicable, and (B)
no Default, Loss Event or Casualty Occurrence then exists.

To the extent the
Facility is not in the condition required by this Section 16(d), the Lessee
will pay to the Lessor such additional amounts as are reasonably required to
place it in compliance.  The Lessee shall
also pay all costs and expenses relating to the surrender

 17
 

and clean-up in
connection with the surrender of the Facility as may be required by
Governmental Requirements or Insurance Requirements or which are otherwise
necessary to prevent or remedy any Environmental Damages or Environmental
Liabilities or to consummate the delivery of possession of the Facility to the
Lessor hereunder.

Section 17.  Events of Default and Remedies.

(a)                                Each
of the following acts or occurrences shall constitute a “Lease Event of
Default” hereunder:

(i)
default in the payment of the Purchase Price or the Termination Value on the
Cancellation Date or the Purchase Closing Date, as applicable, or in the
payment of the Purchase Price or the Final Rent Payment, as applicable, on the
Lease Termination Date; or the default in the payment when due of any Basic
Rent and the continuance of such default for 5 Business Days thereafter; or the
default in the payment when due of any Supplemental Rent, the amount of any
Indemnified Risk or any other amount due hereunder or under any other Operative
Document and the continuance of such default for 30 days thereafter; or

(ii)
any representation or warranty made or deemed made by the Lessee herein shall
be false or misleading in any material respect on the date made or deemed made;
or

(iii)
an Event of Default under the Investment Agreement (other than a Limited
Recourse Event of Default);

(iv)
the Lessee shall fail to observe or perform any covenant or agreement contained
in Sections 12 and 26 of this Lease; or

(v) the
Lessee shall fail to observe or perform any covenant or agreement contained
(other than those covered by subsections (i) or (iv) above), and such failure
shall not have been cured within 10 days, with respect to any covenant
contained in Section 14 of this Lease, and 30 days, with respect to any other
provision hereof, after the earlier to occur of (A) written notice thereof has
been given to the Lessee by the Lessor (acting, in accordance with Section
9.02(a) of the Investment Agreement, of its own accord or at the request of the
Majority Funding Parties) or (B) the chief financial, chief operating, chief
legal or chief accounting officer of the Lessee or the Guarantor otherwise
becomes aware of any such failure; or

(vi)
Lessee shall abandon the Facility; provided however that for purposes of this
Section 17(a)(vi), the term “abandon” shall not include the mere
failure of Lessee to occupy the Facility so long as Lessee continues to perform
its obligations hereunder and other Operative Documents including without
limitation maintenance of the Facility, maintenance of required insurance,
compliance with Governmental Requirements and Insurance Requirements and
payment of all Rent.

 18
 

(b)                    Subject to
Section 9.02 of the Investment Agreement, upon the occurrence and during the
continuance of any Lease Event of Default, as determined by the Lessor, the
Lessor (acting, in accordance with Section 9.02(a) of the Investment Agreement,
of its own accord or at the direction of the Majority Funding Parties) may do
any one or more of the following (without prejudice to the obligations of the
Lessee under Section 15(b)(ii)):

(i)
proceed by appropriate judicial proceedings, either at law, in equity or in
bankruptcy, to enforce performance or observance by the Lessee of the applicable
provisions of this Lease, or to recover damages for the breach of any such
provisions, or any other equitable or legal remedy, all as the Lessor shall
deem necessary or advisable; and/or

(ii)
by notice to the Lessee, either (x) terminate this Lease in accordance with
Section 15, whereupon the Lessee’s interest and all rights of the Lessee to the
use of the Facility shall forthwith terminate subject to the Lessee’s rights
under such Section 15 to acquire the Facility on the Purchase Closing Date as provided
herein, but the Lessee shall remain liable with respect to its obligations and
liabilities hereunder; or (y) terminate the Lessee’s right to possession of the
Facility or any part thereof; and/or

(iii)
exercise any and all other remedies available under applicable law or at
equity.

(c)                     After the
occurrence and during the continuance of a Cancellation Event or Termination
Event, in the event the Lessor elects not to terminate this Lease and the
Lessee has not exercised its option under Section 15(c), this Lease shall
continue in effect and the Lessor may enforce all of the Lessor’s rights and
remedies under this Lease, including, without limitation, the right to recover
the Basic Rent and Supplemental Rent, and any other yield protection payments
and other amounts with respect thereto, as it becomes due under this Lease or
any other Operative Documents.  For the
purposes hereof, the following do not constitute a cancellation or termination
of this Lease: (i) acts of maintenance or preservation of the Facility or any
part thereof, (ii) efforts by the Lessor to relet the Facility or any part
thereof, including, without limitation, termination of any sublease of the
Facility and removal of any tenant from the Site, (iii) or the appointment of a
receiver upon the initiative of the Lessor to protect the Lessor’s interest
under this Lease.

(d)                    If (i) on the
Lease Termination Date, the Facility is not acquired by the Lessee or its
designee by payment of the Purchase Price, or (ii) on the Cancellation Date, the
Lessee or its designee has defaulted in its obligation to acquire the Facility
and pay the Purchase Price, or if applicable, the Termination Value, in
accordance with Lessee’s election under Section 15(b)(ii), then the Lessor
shall have the immediate right of possession of the Facility and the right to
enter onto the Site and to remove any and all of the Property comprising the
Facility, and the Lessor may thenceforth hold, possess and enjoy the Facility
free from any rights of the Lessee and any Person claiming by, through or under
the Lessee.  The Lessor shall be under no
liability by reason of any such repossession or the Facility or entry onto the
Site.

(e)                     Should the
Lessor elect to repossess the Facility or any part thereof upon cancellation or
termination of this Lease or otherwise in the exercise of the Lessor’s
remedies, the Lessee shall peaceably quit and surrender the Facility or any
such part thereof to the Lessor and

 19
 

either (i) deliver possession of the Facility to the
Lessor or (ii) allow Lessor or its agents or assigns to enter onto the Facility
and the Site to remove any and all of the Property comprising the Facility at
the expense of the Lessee, and neither the Lessee nor any Person claiming
through or under the Lessee shall thereafter be entitled to possession or to
remain in possession of the Facility or any part thereof but shall forthwith
peaceably quit and surrender the Facility to the Lessor.

(f)                       At any time
after the repossession of the Facility or any part thereof, whether or not this
Lease shall have been cancelled or terminated, the Lessor may (but shall be
under no obligation to) relet the Facility or the applicable part thereof
without notice to the Lessee, for such term or terms and on such conditions and
for such usage as the Lessor in its sole and absolute discretion may
determine.  The Lessor may collect and
receive any rents payable by reason of such reletting, and the Lessor shall not
be liable for any failure to relet the Facility or for any failure to collect
any rent due upon any such reletting.

(g)                    The remedies
herein provided in case of a Lease Event of Default are in addition to, and
without prejudice to, the Lessee’s continuing obligations under Section
15(b)(ii), and shall not be deemed to be exclusive, but shall be cumulative and
shall be in addition to all other remedies existing at law, in equity or in
bankruptcy.  The Lessor may exercise any
remedy without waiving its right to exercise any other remedy hereunder or
existing at law, in equity or in bankruptcy.

(h)                    No waiver by
the Lessor hereunder of any Default or Event of Default shall constitute a
waiver of any other or subsequent Default or Event of Default.  To the extent permitted by applicable law,
the Lessee waives any right it may have at any time to require the Lessor to
mitigate the Lessor’s damages upon the occurrence of a Default or Event of
Default by taking any action or exercising any remedy that may be available to
the Lessor, the exercise of remedies hereunder being at the discretion of the
Lessor.

Section 18.  Change
in the Lessee’s Name or Structure. 
The Lessee shall not change its name, identity or corporate structure
(including, without limitation, by any merger, consolidation or sale of
substantially all of its assets) except to the extent permitted by Section
26(a).

Section 19.  Inspection;
Right to Enter Premises of the Lessee. 
The Lessee shall permit, and cause each of its Subsidiaries to permit,
the Lessor, the Administrative Agent, any Lease Participant or their respective
authorized representatives but without any obligation to do so) to (i) enter
upon the Facility at reasonable times upon reasonable advance notice in order
to inspect the Facility (subject to compliance with applicable safety
requirements of the Lessee and applicable Governmental Requirements) and (ii)
examine, audit and make abstracts from any of their respective books and
records and to discuss the condition, compliance with Governmental
Requirements, performance of the Facility and the respective affairs, finances
and accounts of the Lessee with their respective officers and independent
accountants.  The Lessee agrees to
coordinate and assist in such visits and inspections, in each case at such
reasonable times and as often as may reasonably be desired.

Section 20.  Right to Perform the Lessee’s Covenants;
The Administrative Agent. (a) Subject to Section 13, if the
Lessee shall fail to make any payment or perform any act required to be made or
performed by it hereunder, the Lessor, upon notice to or demand upon

 20
 

the Lessee but without waiving or releasing any
obligation or Default or Event of Default, may (but shall be under no
obligation to) at any time thereafter make such payment or perform such act for
the account and at the expense of the Lessee as, at the Lessor’s sole
discretion, may be necessary or appropriate therefor and, upon the occurrence
and during the continuance of a Cancellation Event or Termination Event, may
enter upon the Facility for such purpose and take all such action thereon as,
at the Lessor’s sole discretion, may be necessary or appropriate therefor.  No such entry shall be deemed an eviction of
the Lessee.  All sums so paid by the
Lessor and all costs and expenses (including, without limitation, reasonable
attorneys’ fees and expenses so incurred) shall be paid by the Lessee to the
Lessor on demand as Supplemental Rent.

                                                                                            (b)
                              In
accordance with Section 10.02 of the Investment Agreement, Lessee acknowledges
and agrees that the Administrative Agent has been appointed to undertake, on
Lessor’s and, in certain cases, the Lease Participants’ behalf, certain actions
with respect to the administration of this Lease, the other Operative
Documents, and the transactions contemplated herein and therein.  Lessee agrees to abide by the provisions of
Section 10.02 of the Investment Agreement and other provisions in the Operative
Documents in respect of the Administrative Agent’s role and function in
connection with the administration of the transactions contemplated therein,
including, without limitation, the payment of Rent and other amounts owing
under the Operative Documents directly to the Administrative Agent for the
account of the Lessor and the Lease Participants, as applicable, the receipt
and delivery of notices, reports, financial statements, and the like to the
Administrative Agent on the Lessor’s and the Lease Participants’ behalf, and
permitting, where applicable, the Administrative Agent to exercise, on the
Lessor’s and the Lease Participants’ behalf, the rights and remedies afforded
Lessor under the Operative Documents.

Section 21.  Participation by Co-Lessees or Sublessees.

(a)                                Except
as otherwise permitted in this Section 21 or (with respect to the Lessor)
Section 11.06(b)(i) of the Investment Agreement, neither the Lessor nor the
Lessee may assign its rights or obligations under this Lease without the prior
consent of all of the Lease Participants. 
The Lessor holds the Lien under this Lease for itself and in trust for
the Lease Participants.  The Lessor,
acting on behalf of itself and the Lease Participants, shall be entitled to
exercise all of the rights, remedies, powers and privileges herein conferred
upon Lessor (including, without limitation, in any bankruptcy proceeding), to
give or withhold all consents required to be obtained from the Lessor
hereunder, to give all notices on behalf of the Lessor including notices
regarding Rent, the Final Rent Payment, and Supplemental Rent due hereunder, to
receive all payments to be made to the Lessor hereunder and to approve any sale
of the Facility pursuant to Section 15 to a Person other than the Lessee or any
designee of the Lessee or for a price less than the Termination Value; provided,
however, that nothing herein shall be deemed to be a waiver or
relinquishment of the right of the Lessor to receive Supplemental Rent for its
out of pocket costs and expenses as described in Section 3(c)(i) or to be
indemnified for any matter for which Lessor is entitled to indemnification
hereunder.  Lessee acknowledges and agrees
that certain of Lessor’s and, in certain cases, the Lease Participants’ rights
and duties under this and the other Operative Documents may be enforced or
performed, as applicable, by the Administrative Agent on behalf of the Lessor
or the Lease Participants, as further described herein and in Section 10.02 of
the Investment Agreement.

(b)                               The
Lessor and the Lessee may from time to time, so long as no Cancellation Event
or Termination Event shall have occurred and be continuing, enter into

 21
 

documentation amending this Lease and, as necessary,
the other Operative Documents, to evidence the undertaking of a Person (a “Co-Lessee”)
to be responsible for all or certain obligations of the Lessee and the
attendant reduction in the obligations of the Lessee hereunder, subject in
every case to (i) the prior written approval of the Lessor and each Lease
Participant, each acting in its sole discretion in approving said Co-Lessee and
the documentation amending this Lease and the Operative Documents, it being
understood that any of the Lessor or the Lease Participants may for any reason
whatsoever elect not to grant such approval, in which case this Lease shall not
be amended; (ii) such documentation expressly stating that such assignment is
subject and subordinate to the terms of this Lease and the Liens created by the
Security Instruments; and (iii) the Lessee remaining primarily liable for all
obligations of the tenant of the Facility under this Lease.  Any assignment made otherwise than as
expressly permitted by this Section 21(b) shall be null and void and of no
force and effect.

(c)                                The
Lessee may, from time to time, so long as no Default, Event of Default,
Cancellation Event or Termination Event shall have occurred and be continuing,
enter into a sublease as to the Facility and such other documentation as may be
necessary with one or more Persons (each a “Sublessee”).  In any event, any documentation executed by
the Lessee in connection with the subletting of the Facility (i) shall
expressly state that such sublease is subject and subordinate to the terms of
this Lease and the Liens created by the Security Instruments and (ii) shall not
provide for a sublease term ending after the then current Scheduled Lease
Termination Date.  The Lessee will
furnish promptly to the Lessor copies of all subleases and related
documentation entered into by the Lessee from time to time.  No sublease permitted by the terms hereof
will reduce in any respect the obligations of the Lessee hereunder, it being
the intent of the Lessee and the Lessor that the Lessee be and remain directly
and primarily liable as a principal for its obligations hereunder.  Any sublease made otherwise than as expressly
permitted by this Section 21(c) shall be null and void and of no force or
effect.

Section 22.  Notices.Except
as otherwise provided herein, all notices, requests and other communications
provided for hereunder shall be in writing (including telecopier and other
readable communication) and mailed by certified mail, return receipt requested,
telecopied or otherwise transmitted or delivered, if to the Lessee, at 2801
Highway 280 South, Birmingham, Alabama 35223, Attention: Lance Black,
Telecopier: 205-268-3642; if to the Lessor, at Wachovia Development
Corporation, c/o Wachovia Bank, National Association, 301 South College Street,
MC NC0174, Charlotte, NC 28288, Attention: Gabrielle Braverman, Telecopier:
704-715-0065, or, as to each party, at such other address as shall be
designated by such party in a written notice to the other parties.  All such notices and communications shall, if
so mailed, telecopied or otherwise transmitted, be effective when received, if
mailed, or when the appropriate answer back or other evidence of receipt is
given, if telecopied or otherwise transmitted, respectively. Each such notice,
request or other communication shall be effective (i) if given by telecopier,
when such telecopy is transmitted to the telecopier number specified in this
Section and the confirmation is received, (ii) if given by mail, 72 hours after
such communication is deposited in the mails with first class postage prepaid,
addressed as aforesaid or (iii) if given by any other means, when delivered at
the address specified in this Section; provided, that notices to the
Lessor under Section 3 shall not be effective until received.  A notice received by the Lessor by telephone
shall be effective if the Lessor believes in good faith that it was given by an
authorized representative of the Lessee and acts pursuant thereto,
notwithstanding the absence of written confirmation or any contradictory provision
thereof.  In accordance with Section
10.02 of the Investment Agreement, Lessor and Lessee agree that notice

 22
 

delivered by the Lessee to the Administrative Agent
shall constitute constructive receipt thereof by Lessor and that notice
delivered by the Administrative Agent shall constitute in all respects notice
delivered by the Lessor.

Section 23.  Amendments
and Waivers.  The provisions of this
Lease may from time to time be amended, modified or waived only if such
amendment, modification or waiver is in writing and consented to by the Lessee
and the Lessor (with the consent of the requisite Funding Parties and the
Administrative Agent, as required by the Investment Agreement).

Section 24.  Severability.  Any provision of this Lease which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

Section 25.  Federal
Income Tax Considerations.  It is the
understanding of the parties that for income tax purposes this transaction will
be treated as a financing and the Lessee will be treated as the owner of the
Facility; and the Lessee and the Lessor agree not to take any action
inconsistent with such treatment, subject to the following sentence.  Notwithstanding anything in this Section to
the contrary, the Lessor retains the right to assert that it is the owner of
the Facility subject to this Lease for income tax purposes in the event that
there is a determination (within the meaning of Section 1313 of the Internal
Revenue Code of 1986, as amended, or with respect to state or local income tax,
a comparable determination under state or local law) that the Lessee is not to
be treated as the owner of the Facility.

Section 26.  Other
Provisions.  In order to
protect the rights and remedies of the Lessor and the Lessee both during the
term of this Lease and following a Default, an Event of Default, a Termination
Event or a Cancellation Event, and for the purposes of Federal, state and local
income and taxes, ad valorem taxes, state and local sales taxes, documentary
stamp and intangible taxes and other taxes relating to or assessable as a
result of the execution, delivery or recording of any of the Operative
Documents and for purposes of commercial law and Title 11 of the United States
Code (or any other applicable Federal, state or local insolvency,
reorganization, moratorium, fraudulent conveyance or similar law now or
hereafter in effect for the relief of debtors), the parties hereto intend that
(a) this Lease be treated as evidence of and the agreement of the Lessee for
the repayment of the Secured Amount (as hereafter defined), (b) all payments of
Rent, the Purchase Price and the Termination Value be treated as payments of
principal, interest and other amounts owing with respect to the Loan (as
hereafter defined), respectively, (c) the Lessee should be treated as entitled
to all benefits of ownership of the Facility or any part thereof, (d) this
Lease be treated as (i) a mortgage (this Lease, as so treated, is the “Mortgage”)
from Lessee, as mortgagor, to the Lessor, as mortgagee, on that part of the
Facility constituting real property and is made under those provisions of the
existing laws of the State of Alabama relating to mortgages and that the
Lessee, as mortgagor and grantor, hereby irrevocably grants, bargains, sells,
conveys, assigns, transfers, mortgages and sets over unto the Lessor, as
mortgagee and grantee, for the use and benefit of itself and in trust for the
Lease Participants, Lessee’s right, title and interest in and to any real
property of any kind or character comprising the Facility (including the Lessee’s
sub-leasehold interest in the Site and all estates, easements, and rights, and
its interest in all fixtures and Improvements) and all proceeds therefrom, to
have and to hold said real property and all parts, rights, members and
appurtenance thereof to the use, benefit and behoof of the Lessor, for the use
and benefit of itself and in trust for the Lease

 23
 

Participants, in fee simple forever (as to the
fixtures and Improvements) and Lessee covenants that Lessee is lawfully seized
and possessed of the aforesaid real property and has good right to convey its
interest in the same, that the same is unencumbered except for the Permitted
Liens and that Lessee does warrant and will forever defend title thereto against
the claims of all persons whomsoever; and (ii) a security agreement from the
Lessee, as debtor, to the Lessor, as secured party, encumbering the Lessee’s
right, title and interest in the Facility, including the Lessee’s subleasehold
and leasehold interest, and all personal property comprising the Facility, and
that the Lessee, as debtor, hereby grants to the Lessor, for the use and
benefit of the Lessor and in trust for the Lease Participants, as
beneficiaries, as secured parties (collectively, the “Secured Party”) a
first and prior Lien on and security interest in the equipment and any and all
other personal property of any kind or character and fixtures comprising the
Facility (including all Related Contracts, excluding “Excluded Equipment,” as
defined in Section 6 hereof), and all proceeds therefrom, in each case being
effective as of the date of this Lease. 
In such event, the Lessor shall have all of the rights, powers and
remedies of a mortgagee and a secured party available under applicable law, including,
without limitation, judicial or nonjudicial foreclosure or power of sale, as
and to the extent available under applicable law. The amounts secured by this
Mortgage shall be as follows (collectively, the “Secured Amount”):

1.               The
collective amount of the aggregate Unrecovered Lessor Investments and unpaid
Yield, plus any other amounts owing to the Lessor or the Lease Participants
under the Operative Documents (including, without limitation, Supplemental
Rent, the Final Rent Payment, and all indemnification amounts);

2.               The
portion of the Facility Cost funded by the Lessor representing an aggregate
indebtedness in the amount of $75,000,000.00 (the “Loan”);

3.               All
future advances of the Loan (if any) which may be made after the date hereof to
the same extent as if such future advances were made on the date of the
execution of this Mortgage, although there may be no advance made on the date
of the execution of this Mortgage, and although there may be no indebtedness
outstanding under the Loan or under any other indebtedness of Lessee to Lessor
at the time this Mortgage is executed or at the time any advance is made under
the Loan or under any other indebtedness of Lessee to Lessor.  The parties hereby acknowledge and intend
that all advances under the Loan, including future advances (if any) whenever
hereafter made, shall be secured by this Mortgage and, to the extent allowed by
law, have priority from the time this Mortgage is recorded; and

4.               Any
and all additional advances made by the Lessor or the Secured Party to protect
or preserve the Collateral (as hereinafter defined) or the lien hereof on the
Collateral, or for taxes, assessments or insurance premiums as hereinafter
provided (whether or not the original Lessee remains the owner of the Collateral
at the time of such advances).

                                                                                            The
filing of this Lease shall be deemed to constitute the filing of a mortgage and
the filing of any financing statement in connection with this Lease shall be
deemed to constitute the filing of a financing statement to perfect the
mortgage lien and security interests in the Facility as aforesaid and to secure
the payment of the Secured Amount.  If
this transaction is treated as a financing, the obligation arising hereunder
shall be with full recourse to the Lessee and shall not be treated as recourse
only to the Facility.  To the fullest
extent permitted by applicable law, the Lessor and the Lessee intend that the
Facility (other than the real property constituting the Site) be and remain at
all times personal property regardless of the manner or

 24
 

extent to which any of the Facility (other than the
real property constituting the Site) may be attached or affixed to any real
property.  Except as required by
applicable law, the Lessee shall not under any circumstances take any action or
make any filing or recording which would cause the Facility (other than the
real property constituting the Site) to be deemed to be real property or permit
any Person to obtain any interest in the Facility (other than the real property
constituting the Site) as a result of the Facility (other than the real
property constituting the Site) being deemed to be in whole or in part real
property.

                                                                                            In
order to preserve the security interest provided for herein, each of the Lessor
and the Lessee agrees to abide by the following provisions with regard to the
Facility (for purposes of this Section, hereinafter referred to as “Collateral”):

(a)                                Change
in Location of Collateral or the Lessee. 
The Lessee (i) will notify the Secured Party on or before the date of
any change in (A) the location of the Collateral (B) the location of Lessee’s
chief executive office or address, (C) the name of the Lessee and (D) the
corporate structure of the Lessee, and (ii) will, on or before the date of any
such change, prepare and file new or amended financing statements as necessary
so that the Secured Party shall continue to have a first and prior perfected
Lien (subject only to Permitted Liens) in the Collateral after any such change.

(b)                               Intentionally
Omitted.

(c)                                Sale,
Disposition or Encumbrance of Collateral. 
Except as set forth herein and for Permitted Liens, as permitted by any
of the Operative Documents or with the Secured Party’s prior written consent,
the Lessee will not in any way encumber any of the Collateral (or permit or
suffer any of the Collateral to be encumbered) or sell, assign, lend, rent,
lease or otherwise dispose of or transfer any of the Collateral to or in favor
of any Person other than the Secured Party.

(d)                               Proceeds
of Collateral.  Except as permitted
by any of the Operative Documents, the Lessee will deliver to the Secured Party
promptly upon receipt all proceeds delivered to the Lessee from the sale or
disposition of any Collateral.  This
Section shall not be construed to permit sales or dispositions of the
Collateral except as may be elsewhere expressly permitted by this Lease or the
other Operative Documents.

(e)                                Further
Assurances.  Upon the request of the
Secured Party, Lessee shall (at Lessee’s expense) execute and deliver all such
mortgages, deeds of trust, deeds to secure debts, assignments, certificates,
financing statements or other documents and give further assurances and do all
other acts and things as the Secured Party may reasonably request to perfect
the Secured Party’s interest in the Collateral or to protect, enforce or
otherwise effect the Secured Party’s rights and remedies hereunder, all in form
and substance satisfactory to the Secured Party.

(f)                                  Collateral
Attached to Other Property.  In the
event that any of the Collateral is removed from the Facility and is to be
attached or affixed to any real property, the Lessee hereby agrees that a
financing statement which is a fixture filing may be filed for record in any
appropriate real estate records.  If the
Lessee is not the record owner of such real property, it will provide the
Secured Party with any additional security documents or financing statements

 25
 

necessary for the perfection of the Secured Party’s
Lien in the Collateral, as requested by the Secured Party.

(g)                               Secured
Amount.  Should the Secured Amount be
paid according to the tenor and effect thereof when the same becomes due and
payable hereunder, and should Lessee perform all covenants contained in the
Operative Documents in a timely manner, then this Mortgage shall be cancelled
and surrendered.

(h)                               Lease.  The Lease will not be amended, supplemented
or modified without the written consent of the Secured Party.  All payments under the Lease shall be made
only to such account as specified by the Secured Party.

(i)                                   Receiver
and Mortgage Remedies.  If an Event
of Default (other than a Limited Recourse Event of Default) shall have occurred
and be continuing, the Lessor (acting, in accordance with Section 9.02(a) of
the Investment Agreement, of its own accord or at the direction of the Majority
Funding Parties (subject to the provisions of Section 9.02(d) of the Investment
Agreement)), may exercise any one or more of the remedies set forth below (all
or any of which may be undertaken by the Administrative Agent at the request or
direction of the Lessor or the Lease Participants and in the name of or on
behalf of the Lessor and the Lease Participants, as applicable):

(1)  the Lessor may demand, and upon such demand,
the Lessee shall forthwith surrender to the Lessor, the actual possession of
the Collateral and if, and to the extent, permitted by applicable law and the
Operative Documents, the Lessor itself, or by such officers or agents as it may
appoint, may enter and take possession of all the Collateral without the appointment
of a receiver, or an application therefor, and may exclude the Lessee and its
agents and employees wholly therefrom, and may have joint access with the
Lessee to the books, papers and accounts of the Lessee pertaining to the
Collateral.  If the Lessee shall for any
reason fail to surrender or deliver the Collateral or any part thereof after
such demand by the Lessor, the Lessor may obtain a judgment or decree
conferring upon the Lessor the right to immediate possession or requiring the
Lessee to deliver immediate possession of the Collateral to the Lessor, to the
entry of which judgment or decree the Lessee hereby specifically consents.  Upon every such entering upon or taking of
possession, the Lessor may hold, store, use, operate, manage and control the
Collateral and conduct the business thereof, and, from time to time (i) make
all necessary and proper maintenance, repairs, renewals, replacements,
additions, betterments and improvements thereto and thereon and purchase or
otherwise acquire additional fixtures, personalty and other property; (ii)
insure or keep the Collateral insured; (iii) manage and operate the Collateral
and exercise all the rights and powers of the Lessee to the same extent as the
Lessee could in its own name or otherwise with respect to the same; and (iv)
enter into any and all agreements with respect to the exercise by others of any
of the powers herein granted the Lessor, all as the Lessor from time to time
may determine to be in its best interest. The Lessor may collect and receive
all the rents, issues, profits and revenues from the Collateral, including
those past due as well as those accruing thereafter, and, after deducting (aa)
all expenses of taking, holding, managing and operating the Collateral
(including compensation for the services

 26
 

of all persons
employed for such purposes); (bb) the cost of all such maintenance, repairs,
renewals, replacements, additions, betterments, improvements, purchases and
acquisitions; (cc) the cost of such insurance; (dd) such taxes, assessments and
other similar charges as the Lessor may at its option pay; (ee) other proper
charges upon the Collateral or any part thereof; and (ff) the reasonable
compensation, expenses and disbursements of the attorneys and agents of the
Lessor, the Lessor shall apply the remainder of the monies and proceeds so
received by the Lessor in accordance with the terms of this Lease.  Anything in this Section 26 to the contrary
notwithstanding, the Lessor shall not be obligated to discharge or perform the
duties of a landlord to any tenant or incur any liability as a result of the
exercise by the Lessor of its rights under this Mortgage, and the Lessor shall
be liable to account only for the rents, income, issues, profits and revenues
actually received by the Lessor.  Whenever
all that is due upon such interest, deposits and principal installments and
under any of the terms, covenants, conditions and agreements of this Mortgage,
shall have been paid and all Events of Default made good, the Lessor shall
surrender possession of the Collateral to the Lessee, its successors or
assigns. The same right of taking possession, however, shall exist if any
subsequent Event of Default (other than a Limited Recourse Event of Default)
shall occur and be continuing.  In
connection with any action taken by the Lessor pursuant to this Section 26, the
Lessor shall not be liable for any loss sustained by the Lessee resulting from
any act or omission of the Lessor in administering, managing, operating or
controlling the Collateral, including a loss arising from the ordinary
negligence of the Lessor, unless such loss is caused by its own gross
negligence, willful misconduct or bad faith, or the gross negligence, willful
misconduct or bad faith of its officers, directors, employees, agents or contractors,
nor shall the Lessor be obligated to perform or discharge any obligation, duty
or liability of the Lessee.  The Lessee
hereby assents to, ratifies and confirms any and all actions of the Lessor with
respect to the Collateral taken under this Section 26.

(2)  The Lessor, upon application to a court of
competent jurisdiction, shall be entitled as a matter of strict right without
notice and without regard to the occupancy or value of any security for the
Secured Amount secured hereby or the solvency of any party bound for its
payment, to the appointment of a receiver to take possession of and to operate
the portion of the Facility constituting real property (the “Real Property”)
and to collect and apply the rents, issues, profits and revenues thereof. The
receiver shall have all of the rights and powers permitted under the laws of
the State of Alabama.  Lessee will pay to
Lessor upon demand all expenses, including receiver’s fees, attorney’s fees,
costs and agent’s compensation, incurred pursuant to the provisions of this
Section 26; and all such expenses shall be secured hereby.  Lessee agrees to the full extent permitted by
law, that in case of an Event of Default on the part of Lessee, neither Lessee
nor anyone claiming through or under it shall or will set up, claim or seek to
take advantage of any appraisement, valuation, stay, extension, homestead,
exemption or redemption laws now or hereafter in force, in order to prevent or
hinder the enforcement or foreclosure hereunder, or the absolute sale of the
interests of Lessee in the Real Property, or the final and absolute putting
into possession thereof, immediately

 27

after such sale,
of the purchasers thereat, and Lessee, for itself and all who may at any time
claim through or under it, hereby waives to the full extent that it may
lawfully so do, the benefit of all such laws, and any and all right to have the
assets comprised in the security intended to be created hereby marshalled upon
any foreclosure of the lien hereof.

(3)  Lessor shall have the option (in addition to
and in furtherance of Lessor’s rights under this Section 26), to proceed with
foreclosure in any manner permitted by the laws of the State of Alabama,
including judicial foreclosure through the courts or by foreclosure under the
power of sale as provided in this Mortgage with or without declaring the whole
Secured Amount secured hereby due.

(4)  Lessor shall be authorized, at its option,
whether or not possession of the Real Property is taken, after giving notice by
publication once a week for three consecutive weeks of the time, place and
terms of each such sale (including a description of the Real Property or part
thereof to be sold), by publication in a newspaper published in any county
wherein the Real Property or any part thereof is located, to sell the Real
Property (or such part or parts thereof as Lessor may from time to time elect
to sell) in front of such county’s courthouse door, at public outcry, to the
highest bidder for cash, such sale or sales to be held between the hours of
11:00 a.m. and 4:00 p.m. unless otherwise provided by law.  Lessor, its successors and assigns, may bid
at any sale or sales had under the terms hereof and may purchase the Real
Property or any such part thereof, if the highest bidder therefor.  The purchaser at any such sale or sales shall
be under no obligation to see to the proper application of the purchase
money.  At any foreclosure sale, any part
or all of the Real Property, real, personal or mixed, may be offered for sale
in parcels or en masse for one total price, the proceeds of any such sale en
masse to be accounted for in one account without distinction between the items
included therein or without assigning to them any proportion of such proceeds,
Lessee hereby waiving the application of any doctrine of marshalling or like
proceeding.  In case Lessor, in the
exercise of the power of sale herein given, elects to sell the Real Property in
parts or parcels, sales thereof may be held from time to time, and the power of
sale granted herein shall not be fully exercised until all of the Real Property
not previously sold shall have been sold or all the Secured Amount secured
hereby shall have been paid in full.

(5)  Lessee hereby authorizes and empowers Lessor
or the auctioneer at any foreclosure sale had hereunder, for and in the name of
Lessee, to execute and deliver to the purchaser or purchasers of any of the
Real Property sold at foreclosure good and sufficient deeds of conveyance or
bills of sale thereto.

(6)  Lessor, in lieu of or in addition to
exercising the power of sale hereinabove given, may proceed by suit to
foreclose its lien on, security interest in, and assignment of, the Real
Property, subject to the limitations, if any, set out herein, in the Investment
Agreement, or in any other Operative Documents to sue Lessee for damages on
account of or arising out of said Event

 28
 

of Default or
breach, or for specific performance of any provision contained herein, or to
enforce any other appropriate legal or equitable right or remedy.

(7)  the Lessor may, in addition to and not in
abrogation of the rights covered under this Section 26, (i) exercise all
rights, powers and remedies of the Lessee under this Lease and the Related
Contracts, and the Lessee and any other party to any of the Related Contracts
hereby is authorized and directed to render performance to and act upon the
instructions of the Lessor, (ii) with respect to any personal property
constituting part of the Collateral, exercise all rights, powers and remedies
of a secured party under the Uniform Commercial Code as adopted in Alabama, and
(iii) either with or without entry or taking possession as herein provided or
otherwise, proceed by a suit or suits in law or in equity or by any other
appropriate proceeding or remedy (A) to enforce payment and performance of the
Secured Amount or the performance of any term, covenant, condition or agreement
of this Lease or any other right and (B) to pursue any other remedy available
to it, all as the Lessor at its sole discretion shall elect.

(8)  The proceeds of any sale or other exercise of
rights or remedies pursuant to this Section 26 shall be paid over to the
Administrative Agent, on Lessor’s and the Lease Participants’ behalf, and
applied in accordance with Section 3.05(c) of the Investment Agreement.

(9)  In the event of any such foreclosure sale,
Lessee shall be deemed a tenant holding over and shall forthwith deliver
possession to the purchaser or purchasers at such sale or be summarily
dispossessed according to provisions of law applicable to tenants holding over.

(10)  The Lessee agrees to the full extent
permitted by law, that in case of the occurrence of an Event of Default,
neither the Lessee nor anyone claiming through or under it shall or will set
up, claim or seek to take advantage of any appraisement, valuation, stay,
extension, homestead, exemption or redemption laws now or hereafter in force,
in order to prevent or hinder the enforcement or foreclosure of this Mortgage,
or the absolute sale of the Collateral or the final and absolute putting into
possession thereof, immediately after such sale, of the purchasers thereat, and
the Lessee, for itself and all who may at any time claim through or under it,
hereby waives to the full extent that it may lawfully so do, the benefit of all
such laws, and any and all right to have the assets comprised in the security
intended to be created hereby marshalled upon any foreclosure of the lien
hereof.

(11)  The Lessee hereby waives and renounces to the
full extent permitted by law all homestead and exemption rights provided for by
the Constitution and the laws of the United States and of any state, in and to
the Collateral as against the collection of the Secured Amount, or any part
hereof.

(12)  The Lessor, at its option, is authorized to
foreclose this Mortgage in equity, subject to the rights of any tenants of the
Collateral, and the failure to make any such tenants parties to any such
foreclosure proceedings and

 29
 

to foreclose their
rights will not be, nor be asserted to be by Lessee, a defense to any
proceedings instituted by the Lessor to collect the Secured Amount.

(13)  In case the Lessor shall have proceeded to
enforce any right, power or remedy under this Mortgage by foreclosure, entry or
otherwise or in the event the Lessor commences advertising of the intended
exercise of the sale under power provided hereunder, and such proceeding or
advertisement shall have been withdrawn, discontinued or abandoned for any
reason, or shall have been determined adversely to the Lessor, then in every
such case (i) the Lessee and the Lessor shall be restored to their former
positions and rights, (ii) all rights, powers and remedies of the Lessor shall
continue as if no such proceeding had been taken, including those with respect
to each and every Event of Default declared or occurring prior or subsequent to
such withdrawal, discontinuance or abandonment and (iii) neither this Mortgage,
nor the Secured Amount, nor any other instrument concerned therewith, shall be
or shall be deemed to have been reinstated or otherwise affected by such
withdrawal, discontinuance or abandonment; and the Lessee hereby expressly
waives the benefit of any statute or rule of law now provided, or which may
hereafter be provided, which would produce a result contrary to or in conflict
with the above.

(14)  No right, power or remedy conferred upon or
reserved to the Lessor by this Mortgage is intended to be exclusive of any
other right, power or remedy, but each and every such right, power and remedy
shall be cumulative and concurrent and shall be in addition to any other right,
power and remedy given hereunder or now or hereafter existing at law or in
equity or by statute.

(15)  If the Lessor (i) grants forbearance or an
extension of time for the payment of any sums secured hereby; (ii) takes other
or additional security for the payment of any sums secured hereby; (iii) waives
or does not exercise any right granted herein or in the Operative Documents;
(iv) releases any part of the Collateral from the lien of this Mortgage or
otherwise changes any of the terms, covenants, conditions or agreements of this
Mortgage or any other Operative Document; (v) consents to the filing of any
map, plat or replat affecting the Collateral; (vi) consents to the granting of
any easement or other right affecting the Collateral; or (vii) makes or
consents to any agreement subordinating the lien hereof, any such act or
omission shall not release, discharge, modify, change or affect the original
liability under this Mortgage or any other of the Operative Documents or any
other obligation of the Lessee or any subsequent purchaser of the Collateral or
any part thereof, or any maker, cosigner, endorser, surety or guarantor; nor
shall any such act or omission preclude the Lessor from exercising any right,
power or privilege herein granted or intended to be granted in the event of any
default then made or of any subsequent default; nor, except as otherwise
expressly provided in an instrument or instruments executed by the Lessor,
shall the lien of this Mortgage be altered thereby. In the event of the sale or
transfer by operation of law or otherwise of all or any part of the Collateral,
the Lessor, without notice, is hereby authorized

 30
 

and empowered to
deal with any such vendee or transferee with reference to the Collateral or the
Secured Amount secured hereby, or with reference to any of the terms,
covenants, conditions or agreements hereof, as fully and to the same extent as
it might deal with the original parties hereto and without in any way releasing
or discharging any liabilities, obligations or undertakings.

(16)  The Lessor shall have power (a) to institute
and maintain such suits and proceedings as it may deem expedient to prevent any
impairment of the Collateral by any acts which may be unlawful or any violation
of this Mortgage, (b) to preserve or protect its interest in the Collateral and
in the rents, issues, profits and revenues arising therefrom, and (c) to
restrain the enforcement of or compliance with any legislation or other
governmental enactment, rule or order that may be unconstitutional or otherwise
invalid, if the enforcement of or compliance with such enactment, rule or order
would impair the security hereunder or be prejudicial to the interest of the
Lessor.

(17)  In the case of any receivership, insolvency,
bankruptcy, reorganization, arrangement, adjustment, composition or other
proceedings affecting the Lessee, its creditors or its property, the Lessor, to
the extent permitted by law, shall be entitled to file such proofs of claim and
other documents as may be necessary or advisable in order to have the claims of
the Lessor allowed in such proceedings for the entire amount due and payable by
the Lessee under this Mortgage at the date of the institution of such
proceedings and for any additional amount which may become due and payable by
the Lessee hereunder after such date.

Section 27.  Miscellaneous.

(a)           ENTIRE AGREEMENT.  THIS LEASE AND THE OTHER OPERATIVE DOCUMENTS
EMBODY THE ENTIRE AGREEMENT AND UNDERSTANDING BETWEEN THE LESSEE AND THE LESSOR
AND SUPERSEDE ALL OTHER AGREEMENTS AND UNDERSTANDINGS BETWEEN SUCH PARTIES
RELATING TO THE SUBJECT MATTER HEREOF. 
THIS WRITTEN LEASE AND THE OTHER OPERATIVE DOCUMENTS REPRESENT THE FINAL
AGREEMENT BETWEEN 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
BETWEEN THE PARTIES.

(b)           Interpretation.  Captions and section headings appearing
herein are included solely for convenience of reference and are not intended to
affect the interpretation of any provision of this Agreement.

(c)           GOVERNING LAW; SUBMISSION TO JURISDICTION.  THIS LEASE AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HERETO RELATING TO THE FACILITY SHALL BE GOVERNED BY AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING
SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW (OR ANY SIMILAR
SUCCESSOR PROVISION THERETO) BUT EXCLUDING ALL OTHER

 31
 

CONFLICT-OF-LAWS RULES; EXCEPT THAT,
TO THE EXTENT REQUIRED BY THE LAWS OF THE STATE IN WHICH THE FACILITY IS
LOCATED, THE LAWS OF THE STATE OF ALABAMA SHALL GOVERN (I) THE CREATION AND
EXISTENCE OF THIS LEASE, (II) SECTION 26 OF THIS LEASE, AND (III) THE
ENFORCEMENT OF THE RIGHTS OF LESSOR TO REPOSSESS THE FACILITY FROM LESSEE AFTER
THE EARLIER OF THE TERMINATION OF THIS LEASE OR THE TERMINATION OF LESSEE’S
RIGHT TO POSSESSION OF THE FACILITY.

(d)           No Third Party
Beneficiaries.  Nothing in this
Lease, express or implied, shall give to any Person, other than the parties
hereto and the Lease Participants and their respective successors and permitted
assigns, any benefit or any legal or equitable right, remedy or claim under
this Lease including, without limitation, under any provision of this Lease
regarding the priority or application of any amounts payable hereunder.

(e)           Counterparts.  This Lease may be executed in any number of
counterparts, all of which taken together shall constitute one and the same
instrument and any of the parties hereto may execute this Agreement by signing
any such counterpart.

(f)            WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO A TRIAL BY JURY IN ANY
ACTION OR PROCEEDING TO ENFORCE OR TO DEFEND ANY RIGHTS UNDER THIS LEASE OR
UNDER ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY
IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR ARISING FROM
ANY RELATIONSHIP EXISTING IN CONNECTION WITH THIS LEASE, AND AGREES THAT ANY
SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

(g)           Invalidity.  In the event that any one or more of the
provisions contained in this Lease shall, for any reason, be held invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provision of the Lease.

(h)           Usury.  Notwithstanding anything to the contrary
contained in this Lease or any of the Operative Documents, the amounts which
the Lessee is obliged to pay pursuant to this Lease and the other Operative
Documents, and the amounts which the Lessor and the Lease Participants are
entitled to receive pursuant to this Lease and the other Operative Documents,
are subject to the limitations set forth in Section 11.15 of the Investment
Agreement.

(i)            Time is of the
Essence.  Time is of the essence in
connection with the payment of Rent and all other amounts payable hereunder and
the performance of the Lessee’s other obligations hereunder.

(j)            Lessor Recourse.  No recourse shall be had against the Lessor
or the Administrative Agent or their successors and assigns and their
directors, officers, shareholders, employees or agents for any claim based on
any failure by the Lessor or the Administrative Agent in the performance or
observance of any of the agreements, covenants or provisions contained in this
Lease or any other Operative Documents; and in the event of any such failure,
recourse shall be had solely against the rights and interests of the Lessor in
the Facility;

 32
 

provided, that the foregoing shall
not relieve (i) any such director, officer or employee of personal liability
for his or her fraud or intentional misconduct or (ii) Lessee from its
obligation not to create or permit the existence of “Lessor Liens,” as defined
in Section 16(a)(i) hereof.

(k)           Amendment and
Restatement.  This Lease constitutes
an amendment and restatement of the Original Lease Agreement and does not
constitute any new estate or leasehold interest in the Facility in favor of
Lessee, but rather an amendment and restatement of the terms and conditions of
Lessee’s continuing leasehold interest under the Original Lease Agreement.

 33
 

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

	
  

  	
  LESSEE:

  
	
   

  	
   

  
	
   

  	
  PROTECTIVE LIFE INSURANCE

  COMPANY, a Tennessee corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Attest:

  	
   

  	
   

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [CORPORATE SEAL]

  
	
   

  	
   

  
	
   

  	
  Mailing Address:

  
	
   

  	
   

  
	
   

  	
  Protective Life Insurance Company

  
	
   

  	
  2801 Highway 280 South

  
	
   

  	
  Birmingham, Alabama 35223

  
	
   

  	
  Attention: Lance Black

  
	
   

  	
  Telecopier: 205-268-3642

  
					

 

 34
 

 

	
   

  	
  LESSOR:

  
	
   

  	
   

  
	
   

  	
  WACHOVIA DEVELOPMENT

  
	
   

  	
  CORPORATION, a North Carolina

  
	
   

  	
  corporation

  
	
   

  	
   

  
	
   

  	
   

  	 

	
   

  	
  By:

  	
   

  	
   

  	 

	
   

  	
  Title:

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  Attest:

  	
   

  	
   

  	 

	
   

  	
  Title:

  	 

	
   

  	
   

  
	
   

  	
  [CORPORATE SEAL]

  
	
   

  	
   

  
	
   

  	
  Mailing Address:

  
	
   

  	
   

  
	
   

  	
  Wachovia Development Corporation

  
	
   

  	
  c/o Wachovia Bank, National Association

  
	
   

  	
  301 S. College Street

  
	
   

  	
  MC NC0174

  
	
   

  	
  Charlotte, NC 28288

  
	
   

  	
  Attention: Gabrielle Braverman

  
	
   

  	
  Telecopier No.: 704-715-0065

  
	
   

  	
  Telephone No.: 704-383-1967

  
							

 

 35
 

 

	
  STATE OF

  	
  §

  	
   

  	
   

  
	
   

  	
  §

  	
   

  	
   

  
	
  COUNTY OF

  	
  §

  	
   

  	
   

  

 

                                I, the undersigned,
a Notary Public in and for said County in said State, hereby certify that                                 ,
whose name as                                              
of PROTECTIVE LIFE INSURANCE COMPANY, a Tennessee corporation, is signed to the
foregoing instrument, and who is known to me, acknowledged before me on this
day that, being informed of the contents of this instrument,          
as such                            
and with full authority, executed the same voluntarily for and as the act of
said corporation.

                                Given under my hand
and official seal, this          
day of                            ,
2007.

	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Notary Public

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  My Commission Expires:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
						

 

[Notary Seal]

 36
 

 

	
  STATE OF

  	
  §

  	
   

  	
   

  
	
   

  	
  §

  	
   

  	
   

  
	
  COUNTY OF

  	
  §

  	
   

  	
   

  

 

                                I, the undersigned,
a Notary Public in and for said County in said State, hereby certify that                              ,
whose name as                                      
of WACHOVIA DEVELOPMENT CORPORATION, a North Carolina corporation, is signed to
the foregoing instrument, and who is known to me, acknowledged before me on
this day that, being informed of the contents of this instrument,        
as such                       
and with full authority, executed the same voluntarily for and as the act of
said corporation.

                                Given under my hand
and official seal, this          
day of                          ,
2007.

	
  

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Notary Public

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  My Commission
  Expires:

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
							

 

[Notary Seal]

 

 37
 

EXHIBIT A

ANNEX
PARCEL

Acreage situated in the SW 1/4 of the SE 1/4 and the
SE 1/4 of the SW 1/4 of Section 8, Township 18 South, Range 2 West and the NW
1/4 of the NE 1/4 of Section 17, Township 18 South, Range 2 West, Jefferson
County, Alabama, being more particularly described as follows:

Commence at the Northwesterly corner of Lot 10-A,
Parkway Subdivision, as recorded in Map Book 88, Page 38 in the office of the
Judge of Probate of Jefferson County, Alabama, said point lying on the
Southwesterly Right-of-Way line of Cahaba Road (Old U.S. Highway No. 280), said
point also lying on the East line of the SW 1/4 of the SE 1/4 of Section 8,
Township 18 South, Range 2 West; thence run in a Southerly direction along the
Westerly line of said Lot 10-A and the East line of said 1/4-1/4 section a
distance of 291.49 feet to a point; thence 55o35’25” to the right in a
Southwesterly direction a distance of 328.53 feet to a point; thence 87o34’08”
to the right in a Northwesterly direction a distance of 2.20 feet to a point;
thence 52o23’58” to the left in a Westerly direction a distance of 482.90 feet
to a point; thence 83o11’36” to the left in a Southwesterly direction a
distance of 16.97 feet to a point; thence 83o16’34” to the right in a Westerly
direction a distance of 65.00 feet to a point; thence 90o00’44” to the left in
a Southerly direction a distance of 20.26 feet to a point; thence 31o54’03” to
the right in a Southwesterly direction a distance of 67.66 feet to a point;
thence 90o00’ to the right in a Northwesterly direction a distance of 122.74
feet to the POINT OF BEGINNING of the parcel herein described, said point lying
on the face of the newly constructed Building Annex No. 3; thence 2o18’03” to
the right in a Northwesterly direction along the face of said building a
distance of 39.90 feet to a point; thence 90o00’ to the right in a
Northeasterly direction along the face of said building a distance of 5.33 feet
to a point; thence 90o00’ to the left in a Northwesterly direction along the
face of said building a distance of 254.97 feet to a point; thence 90o00’ to
the right in a Northeasterly direction along the face of said building a
distance of 21.25 feet to a point on the face of an existing Parking Deck; thence
90o00’ to the left in a Northwesterly direction along the face of said parking
deck a distance of 120.80 feet to a point on the face of existing Building 1;
thence 90o00’ to the left in a Southwesterly direction along the face of said
building a distance of 19.09 feet to a point; thence 90o00’ to the right in a
Northwesterly direction along the face of said building a distance of 10.89
feet to a point; thence 90o00’ to the left in a Southwesterly direction along
the face of said building and along the face of the newly constructed Building
Annex No. 3 a distance of 57.38 feet to a point; thence 90o00’ to the left in a
Southeasterly direction along the face of said Building Annex No. 3 a distance
of 64.38 feet to a point; thence 90o00’ to the right in a Southwesterly
direction along the face of said building a distance of 73.55 feet to a point;
thence 90o00’ to the left in a Southeasterly direction along the face of said
building a distance of 2.54 feet to a point; thence 90o00’ to the right in a
Southwesterly direction a distance of 6.00 feet to a point; thence 90o00’ to
the left in a Southeasterly direction a distance of 27.45 feet to a point;
thence 90o00’ to the left in a Northeasterly direction a distance of 6.00 feet
to a point on the face of the newly constructed Building Annex No. 3; thence
90o00’ to the right in a Southeasterly direction along the face of said
building a distance of 281.48 feet to a point; thence 90o00’ to the right in a
Southwesterly direction a distance of 4.30 feet to a point; thence 90o00’ to
the left in a Southeasterly direction a distance of 9.17 feet to a point;
thence 90o00’ to the left in a Northeasterly direction a distance of 4.30 feet
to a point on the face of the newly constructed Building Annex No. 3; thence
90o00’ to the right in a Southeasterly direction along the face of said
building a distance of 1.67 feet to a point; thence 90o00’ to the left in a
Northeasterly direction along the face of said building a distance of 27.92
feet to a point; thence 90o00’ to the

 38
 

right in a Southeasterly direction along the face of
said building a distance of 39.87 feet to a point; thence 90o00’ to the left in
a Northeasterly direction along the face of said building a distance of 95.52
feet to the Point of Beginning.

Containing 51,664 square feet or 1.186 acres.

TOGETHER WITH, a non exclusive easement for pedestrian
and vehicular ingress and egress to, upon, over and across the Protective Road,
Protective Driveway and Orchid Driveway (as the same are described in the
certain Reciprocal Easement Agreement by and between Orchid, L.L.C. and
Protective Life Insurance Company dated as of January 19, 1996, and recorded as
Instrument #9601/6971 in the Probate Office of Jefferson County, Alabama, as
amended and restated by Amended and Restated Reciprocal Easement Agreement
dated as of March 16, 2004, and recorded as Instrument #200405/9866, in said
Probate Office),  as the same may be
modified or relocated.

TOGETHER WITH, (a) a non-exclusive easement for the
purpose of pedestrian and vehicular ingress and egress to, on, over and across
the Common Driveway; (b) an easement along the Common Access Driveway for the
drainage of storm water; and, (c) an easement along the Common Access Driveway
and over the Company Tract for installing, operating, and maintaining utility
facilities (as the same are described in that certain Reciprocal Easement
Agreement by and between Protective Life Insurance Company and Wachovia Capital
Investments, Inc. dated as of the 1st day of February, 2000, and recorded as
Instrument #200004/0950, in the Probate Office of Jefferson County, Alabama, as
amended by First Amendment to Reciprocal Easement Agreement dated as of
September 1, 2004 and recorded as Instrument #200413/6654, in said Probate
Office).

 39

PARKING
DECK PARCEL

Acreage situated in the SW 1/4 of the SE 1/4 of
Section 8, Township 18 South, Range 2 West, Jefferson County, Alabama, being
more particularly described as follows:

Commence at the Northwesterly corner of Lot 10-A,
Parkway Subdivision, as recorded in Map Book 88, Page 38 in the office of the
Judge of Probate of Jefferson County, Alabama, said point lying on the
Southwesterly Right-of-Way line of Cahaba Road (Old U.S. Highway No. 280), said
point also lying on the East line of the SW 1/4 of the SE 1/4 of Section 8,
Township 18 South, Range 2 West; thence run in a Southerly direction along the
Westerly line of said Lot 10-A and the East line of said 1/4-1/4 section a
distance of 291.49 feet to a point; thence 55o35’25” to the right in a Southwesterly
direction a distance of 328.53 feet to a point; thence 87o34’08” to the right
in a Northwesterly direction a distance of 2.20 feet to a point; thence 52o23’58”
to the left in a Westerly direction a distance of 310.55 feet to a point;
thence 90o00’ to the right in a Northerly direction a distance of 111.28 feet
to a point on the face of the newly constructed parking deck, said point being
the POINT OF BEGINNING of the parcel herein described; thence 34o26’54’ to the
right in a Northeasterly direction along the face of said parking deck a
distance of 200.87 feet to a point; thence 90o00’ to the left in a
Northwesterly direction along the face of said parking deck a distance of 3.99
feet to a point; thence 90o00’ to the right in a Northeasterly direction along
the face of said parking deck a distance of 13.22 feet to a point; thence 90o00’
to the left in a Northwesterly direction along the face of said parking deck a
distance of 12.98 feet to a point; thence 90o00’ to the right in a
Northeasterly direction along the face of said parking deck a distance of 4.00
feet to a point; thence 90o00’ to the left in a Northwesterly direction along
the face of said parking deck a distance of 274.49 feet to a point; thence
90o00’ to the left in a Southwesterly direction along the face of said parking
deck a distance of 4.06 feet to a point; thence 90o00’ to the right in a
Northwesterly direction along the face of said parking deck a distance of 13.00
feet to a point; thence 90o00’ to the left in a Southwesterly direction along
the face of said parking deck a distance of 13.02 feet to a point; thence 90o00’
to the right in a Northwesterly direction along the face of said parking deck a
distance of 3.89 feet to a point; thence 90o00’ to the left in a Southwesterly
direction along the face of said parking deck a distance of 200.93 feet to a
point; thence 90o00’ to the left in a Southeasterly direction along the face of
said parking deck a distance of 3.91 feet to a point; thence 90o00’ to the
right in a Southwesterly direction along the face of said parking deck and its
extension a distance of 16.06 feet to a point along the roof overhang line of
the newly constructed pedestrian bridge; thence 90o00’ to the right in a
Northwesterly direction along said roof overhang line a distance of 95.00 feet
to a point on the face of the existing parking deck; thence 90o00’ to the left
in a Southwesterly direction along the face of the existing parking deck a
distance of 15.94 feet to a point along the roof overhang line of the newly constructed
pedestrian bridge; thence 90o00’ to the left in a Southeasterly direction along
said roof overhang line a distance of 107.90 feet to a point on the
face of the newly constructed parking deck; thence 90o00’ to the right in a
Southwesterly direction along the face of said parking deck a distance of 6.79
feet to a point; thence 90o00’ to the left in a Southeasterly direction along
the face of said parking deck a distance of 28.64 feet to a point; thence 90o00’
to the left in a Northeasterly direction along the face of said parking deck a
distance of 21.62 feet to a point; thence 90o00’ to the right in a
Southeasterly direction along the face of said parking deck a distance of
245.90 feet to a point; thence 90o00’ to the left in a Northeasterly direction
along the face of said parking deck a distance of 3.90 feet to a point; thence
90o00’ to the right in a Southeasterly direction along the face of said parking
deck a distance of 13.02 feet to a point; thence 90o00’ to the left
in

 40
 

a Northeasterly direction along the face of said
parking deck a distance of 13.19 feet to a point; thence 90o00’ to the right in
a Southeasterly direction along the face of said parking deck a distance of
3.98 feet to the Point of Beginning.

Containing 74,417 square feet or 1.708 acres.

TOGETHER WITH, a non exclusive easement for pedestrian
and vehicular ingress and egress to, upon, over and across the Protective Road,
Protective Driveway and Orchid Driveway (as the same are described in the
certain Reciprocal Easement Agreement by and between Orchid, L.L.C. and
Protective Life Insurance Company dated as of January 19, 1996, and recorded as
Instrument #9601/6971 in the Probate Office of Jefferson County, Alabama, as
amended and restated by Amended and Restated Reciprocal Easement Agreement
dated as of March 16, 2004, and recorded as Instrument #200405/9866, in said
Probate Office),  as the same may be
modified or relocated.

TOGETHER WITH, (a) a non-exclusive easement for the
purpose of pedestrian and vehicular ingress and egress to, on, over and across
the Common Driveway; (b) an easement along the Common Access Driveway for the
drainage of storm water; and, (c) an easement along the Common Access Driveway
and over the Company Tract for installing, operating, and maintaining utility
facilities (as the same are described in that certain Reciprocal Easement
Agreement by and between Protective Life Insurance Company and Wachovia Capital
Investments, Inc. dated as of the 1st day of February, 2000, and recorded as
Instrument #200004/0950, in the Probate Office of Jefferson County, Alabama, as
amended by First Amendment to Reciprocal Easement Agreement dated as of
September 1, 2004 and recorded as Instrument #200413/6654, in said Probate
Office).

 41
 

EXHIBIT B

Other Defined Terms

                                “Facility”:  the collective reference to (i) the Lessor’s
leasehold interest in the Site, (ii) the Improvements, and (iii) all plans,
specifications, warranties and related rights and operating, maintenance and
repair manuals related thereto and all replacements of any of the above.

                                “Facility Plan”:  means the “Facility Plan” as defined and used
in the Original Lease Agreement.

                                “Improvements”:  collectively, the building and nearby parking
deck to be constructed and related enhancements and improvements, including
furniture, fixtures and equipment constructed or installed on the Site in
accordance with the Facility Plan, together with all accessions thereto and
replacements thereof, and together with all accessories, equipment, parts and
devices necessary to achieve completion as contemplated under the Original
Lease Documents, and all fixtures now or hereafter included in or attached to
the Site, the building and such enhancements and improvements and
modifications, but excluding the Site.

                                “Site”:  certain real property located in Birmingham,
Alabama, described in greater detail on Exhibit A to the Investment
Agreement and the Lease.

                                “UCC”:  the Uniform Commercial Code as in effect in
the State of Alabama and any other jurisdiction whose laws may be mandatorily
applicable.

 42
 

SCHEDULE 14

Insurance Requirements

                The Lessee will
provide, or cause to be provided, insurance in accordance with the terms of
this Schedule, which insurance shall be placed and maintained with Permitted
Insurers.  As to each of the building
annex and parking deck portions of the Facility, until the issuance of a
certificate of occupancy as to such portion, such insurance may be provided
through the general contractor’s builder’s risk and liability coverage.

                (a)           Insurance
Coverages and Limits

                At all times
subsequent to the Lease Commencement Date, the Lessee shall provide, or cause
to be provided, the following property and liability coverages with respect to
the Facility:

                (i)            all-risk property coverage, with limits of
coverage at least equal to the replacement cost (which limits shall be not less
than $60,000,000 for the Facility), which insurance coverage may, at the Lessee’s
option, be included under any “blanket” policy maintained by the Lessee so long
as such “blanket” policy provides for all-risk property coverage with respect
to the Facility and any other Property covered thereby, with limits of coverage
at least equal to the aggregate replacement cost of the Facility (provided,
however, that such insurance, in either case, shall provide for replacement
cost coverage, provided that the insured property is replaced, and, provided
further, that the insurance shall not have the effect of causing the Lessee or
any of its Affiliates to be deemed a co-insurer), with respect to the Lessee
and any Affiliate of the Lessee providing services with respect to the
Facility, or if the Lessee elects to effect the coverage required by this
Paragraph under a “blanket” policy, the Lessee and its Affiliates insured
thereby, such insurance to include, coverage for (x) floods (if required by
applicable law or regulation), windstorms, hurricanes, tornados, collapse and
other perils (including debris removal and cleanup) and such insurance to cover
equipment separated from the Facility, transit of equipment and consumables to
and from the Site, labor claims, in each case with respect to the Facility, and
such insurance to include coverage for all other risks and occurrences
customarily included under all-risk policies available with respect to Property
similar in installation, location and operation to the Facility (or the
Facility and all other Property insured thereby if all are covered under a “blanket”
policy), and (y) “boiler and machinery” property damage insurance on a
comprehensive basis with respect to damage to the machinery, plants, equipment
or similar apparatus (including production machinery) included in the Facility
(or the Facility and all other Property insured thereby if all are covered
under a “blanket” policy), from risks and in amounts normally insured against
under machinery policies.

                (ii)

                (1)           statutory workers’ compensation and
occupational disease insurance in accordance with applicable state and federal
law, and employer’s liability insurance with primary and excess coverage limits
of not less than $1,000,000;

 43
 

(2)           commercial
general liability insurance covering operations of the Lessee, contractual
liability coverage, contingent liability coverage arising out of the operations
of the Facility, cross-liabilities coverage, sudden and accidental seepage and
pollution coverage, and other coverage for hazards customarily insured with
respect to Property similar in construction, location, occupancy and operation
to the Facility, with limits complying with the underlying requirements of the
excess liability policy described in Paragraph (a)(ii)(3);

(3)           excess
commercial liability insurance in excess of the liability policies described in
Paragraphs (a)(ii)(1) and (2) to bring to limits of not less than
$1,000,000 for each occurrence and in the aggregate per year with respect to
the Lessee and its Affiliates.

(iii)          The policy or policies providing the
coverage required by paragraphs (a)(i) and (a)(ii)(2) and (a)(ii)(3) may
include deductible amounts for the account of the Lessee or its Affiliates, as
the case may be, not to exceed $25,000 in the aggregate for all such coverages.

                (b)           Insurance
Endorsements - Any insurance carried in accordance herewith shall, except as
hereinafter permitted, provide or be endorsed to provide that:

(i)            the
Lessor, as its interests may appear, shall be included as an additional insured
or named as loss payee but only with respects coverages required by Paragraphs
(a)(i), with the understanding that any obligation imposed upon the insured
(including, without limitation, the liability to pay premiums) under any policy
required by this Schedule shall be the obligation of the Lessee and its
Affiliates) and not that of the Lessor;

(ii)           as to all policies of property insurance, a
non-contributory clause or endorsement to the effect that any loss shall be
payable in accordance with the terms of such policy notwithstanding any act or
negligence of the Lessee or its Affiliates which might otherwise result in
forfeiture of or denial of coverage with respect to such insurance;

(iii)          the insurer thereunder waives all
rights of subrogation against the Lessor;

(iv)          such insurance shall be primary
without right of contribution of any other insurance carried by or on behalf of
the Lessor with respect to its interests in the Facility; and

(v)           if
such insurance is cancelled for any reason whatsoever (including, without
limitation, nonpayment of premium) or any material change is made in the
coverage that affects the interests of the Lessor, such cancellation or change
shall not be effective as to the Lessor for 10 days for nonpayment of premiums
and otherwise for 45 days, in both cases after receipt by the Lessor (at the
address provided pursuant to Section 22 of the Lease) of written notice sent by
certified mail from such insurer of such cancellation or change.

 44
 

                (c)           Adjustment
of Property Losses - After the occurrence and during the continuation of a
Cancellation Event or Termination Event, the loss, if any, under any property
insurance covering the Facility required to be carried by this Schedule shall
be adjusted with the insurance companies or otherwise collected, including,
without limitation, the filing of appropriate proceedings, by the Lessee in
consultation with the Lessor.

                (d)           Upon
request, the Lessee will furnish the Lessor evidence of such insurance relating
the Facility.

                (e)           Additional
Insurance by the Lessor or the Lessee - Nothing in this Schedule shall prohibit
the Lessor or the Lessee, as their respective interests may appear, from maintaining
for their own account, at the expense of the Person purchasing such insurance,
additional insurance on or with respect to the Facility, or any part thereof,
with coverage exceeding that otherwise required under this Schedule, unless
such insurance would conflict with or limit the insurance otherwise required
under this Schedule.

 45Exhibit 10.(g)(5)

AMENDED
AND RESTATED

INVESTMENT
AND PARTICIPATION AGREEMENT

Dated as
of January 11, 2007

Among

PROTECTIVE
LIFE INSURANCE COMPANY,

As the
Company,

WACHOVIA DEVELOPMENT CORPORATION

(as
assignee of Wachovia Capital Investments, Inc.),

as
Lessor,

WACHOVIA
BANK, NATIONAL ASSOCIATION,

as
Administrative Agent,

and

THE
LEASE PARTICIPANTS SIGNATORIES HERETO

TABLE OF CONTENTS

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE I. 

  	
   

  	
  Defined Terms and Accounting Matters

  	
   

  	
  2

  
	
  Section 1.01

  	
   

  	
  Terms Defined
  Above

  	
   

  	
  2

  
	
  Section 1.02

  	
   

  	
  Certain Defined
  Terms

  	
   

  	
  2

  
	
  Section 1.03

  	
   

  	
  Accounting Terms
  and Determinations

  	
   

  	
  2

  
	
  ARTICLE II.

  	
   

  	
  Commitments

  	
   

  	
  2

  
	
  Section 2.01

  	
   

  	
  Lessor
  Investments; Purchase of Ownership Interests

  	
   

  	
  2

  
	
  Section 2.02

  	
   

  	
  [Intentionally
  Omitted]

  	
   

  	
  3

  
	
  Section 2.03

  	
   

  	
  [Intentionally
  Omitted]

  	
   

  	
  3

  
	
  Section 2.04

  	
   

  	
  Certain
  Supplemental Rent

  	
   

  	
  3

  
	
  Section 2.05 

  	
   

  	
  Ownership
  Interests; Administrative Agent as Administrative Agent; Record of Payments 

  	
   

  	
  4 

  
	
  Section 2.06

  	
   

  	
  Lessor
  Confirmation Letter

  	
   

  	
  4

  
	
  Section 2.07

  	
   

  	
  [Intentionally
  Omitted]

  	
   

  	
  5

  
	
  Section 2.08

  	
   

  	
  [Intentionally
  Omitted]

  	
   

  	
  5

  
	
  ARTICLE III.

  	
   

  	
  Recovery of Lessor Investments; Payment of Yield and
  Other Amounts

  	
   

  	
  5

  
	
  Section 3.01

  	
   

  	
  Recovery of
  Lessor Investments

  	
   

  	
  5

  
	
  Section 3.02

  	
   

  	
  Redemptions

  	
   

  	
  5

  
	
  Section 3.03

  	
   

  	
  Yield on Lessor
  Investments; Overdue Amounts

  	
   

  	
  6

  
	
  Section 3.04

  	
   

  	
  Payments by
  Lessor

  	
   

  	
  6

  
	
  Section 3.05

  	
   

  	
  Applications of
  Payments and Proceeds

  	
   

  	
  6

  
	
  ARTICLE IV. 

  	
   

  	
  Payments; Computations; Etc

  	
   

  	
  9

  
	
  Section 4.01

  	
   

  	
  Payments

  	
   

  	
  9

  
	
  Section 4.02

  	
   

  	
  Pro Rata
  Treatment

  	
   

  	
  9

  
	
  Section 4.03

  	
   

  	
  Computations

  	
   

  	
  9

  
	
  Section 4.04

  	
   

  	
  Non-receipt of
  Funds by the Lessor

  	
   

  	
  10

  
	
  Section 4.05

  	
   

  	
  Sharing of
  Payments

  	
   

  	
  10

  
	
  Section 4.06

  	
   

  	
  Taxes

  	
   

  	
  10

  

 

 i
 

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V.

  	
   

  	
  Yield Protection and Illegality

  	
   

  	
  12

  
	
  Section 5.01

  	
   

  	
  Basis for
  Determining Yield Rate Inadequate or Unfair

  	
   

  	
  12

  
	
  Section 5.02

  	
   

  	
  Illegality

  	
   

  	
  13

  
	
  Section 5.03

  	
   

  	
  Increased Cost
  and Reduced Return

  	
   

  	
  14

  
	
  Section 5.04

  	
   

  	
  Base Rate
  Substituted for Adjusted LIBO Rate

  	
   

  	
  16

  
	
  Section 5.05

  	
   

  	
  Compensation

  	
   

  	
  16

  
	
  Section 5.06

  	
   

  	
  Payments and
  Computations

  	
   

  	
  16

  
	
  ARTICLE VI. 

  	
   

  	
  Conditions Precedent

  	
   

  	
  17

  
	
  Section 6.01

  	
   

  	
  Conditions
  Precedent to Effectiveness of this Agreement

  	
   

  	
  17

  
	
  Section 6.02

  	
   

  	
  [Intentionally
  Omitted]

  	
   

  	
  19

  
	
  Section 6.03

  	
   

  	
  Closing

  	
   

  	
  19

  
	
  ARTICLE VII. 

  	
   

  	
  Representations and Warranties

  	
   

  	
  20

  
	
  Section 7.01

  	
   

  	
  Company
  Representations and Warranties

  	
   

  	
  20

  
	
  ARTICLE VIII. 

  	
   

  	
  Covenants

  	
   

  	
  26

  
	
  Section 8.01

  	
   

  	
  Information

  	
   

  	
  26

  
	
  Section 8.02

  	
   

  	
  Maintenance and
  Inspection of Property, Books and Records

  	
   

  	
  28

  
	
  Section 8.03

  	
   

  	
  Related
  Contracts

  	
   

  	
  28

  
	
  Section 8.04

  	
   

  	
  Consolidations,
  Mergers and Sales of Assets

  	
   

  	
  28

  
	
  Section 8.05

  	
   

  	
  Maintenance of
  Existence

  	
   

  	
  29

  
	
  Section 8.06

  	
   

  	
  Dissolution

  	
   

  	
  29

  
	
  Section 8.07

  	
   

  	
  [Intentionally
  Omitted]

  	
   

  	
  29

  
	
  Section 8.08

  	
   

  	
  Compliance with
  Laws; Payment of Taxes

  	
   

  	
  29

  
	
  Section 8.09

  	
   

  	
  Insurance

  	
   

  	
  29

  
	
  Section 8.10

  	
   

  	
  Maintenance of
  Property

  	
   

  	
  30

  
	
  Section 8.11

  	
   

  	
  Environmental
  Notices

  	
   

  	
  30

  
	
  Section 8.12

  	
   

  	
  Environmental
  Matters

  	
   

  	
  30

  
	
  Section 8.13

  	
   

  	
  Environmental
  Release

  	
   

  	
  30

  
	
  Section 8.14

  	
   

  	
  Transactions
  with Affiliates

  	
   

  	
  31

  

 

 ii
 

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 8.15

  	
   

  	
  Further
  Assurances

  	
   

  	
  31

  
	
  Section 8.16

  	
   

  	
  Compliance with
  Certain Documents, Permits, Etc

  	
   

  	
  31

  
	
  Section 8.17

  	
   

  	
  Maintenance; Etc

  	
   

  	
  31

  
	
  Section 8.18

  	
   

  	
  [Intentionally
  Omitted]

  	
   

  	
  31

  
	
  Section 8.19

  	
   

  	
  Liens, Etc

  	
   

  	
  31

  
	
  Section 8.20

  	
   

  	
  Facility Plan

  	
   

  	
  32

  
	
  Section 8.21

  	
   

  	
  Change in Fiscal
  Year

  	
   

  	
  32

  
	
  Section 8.22

  	
   

  	
  Intentionally
  Omitted

  	
   

  	
  32

  
	
  Section 8.23

  	
   

  	
  Restrictions on
  Ability of Subsidiaries to Pay Dividends

  	
   

  	
  32

  
	
  Section 8.24

  	
   

  	
  Adjusted
  Consolidated Net Worth

  	
   

  	
  32

  
	
  Section 8.25 

  	
   

  	
  Ratio of
  Adjusted Consolidated Indebtedness to Consolidated Capitalization 

  	
   

  	
  32 

  
	
  Section 8.26 

  	
   

  	
  Ratio of
  Unconsolidated Cash Inflow Available for Interest Expense to Adjusted Consolidated
  Interest Expense 

  	
   

  	
  32 

  
	
  Section 8.27

  	
   

  	
  Company’s Total
  Adjusted Capital

  	
   

  	
  32

  
	
  Section 8.28

  	
   

  	
  Restricted
  Payments

  	
   

  	
  32

  
	
  Section 8.29

  	
   

  	
  Anti-Terrorism
  Laws

  	
   

  	
  33

  
	
  Section 8.30

  	
   

  	
  Company as Agent
  of Lessor With Respect to the Facility

  	
   

  	
  33

  
	
  ARTICLE IX.

  	
   

  	
  Events of Default

  	
   

  	
  38

  
	
  Section 9.01

  	
   

  	
  Events of
  Default

  	
   

  	
  38

  
	
  Section 9.02

  	
   

  	
  Remedies

  	
   

  	
  40

  
	
  ARTICLE X.

  	
   

  	
  The LESSOR as Servicing Agent for the Lease
  Participants; THE Administrative Agent

  	
   

  	
  42

  
	
  Section 10.01

  	
   

  	
  Lessor as
  Servicing Agent

  	
   

  	
  42

  
	
  Section 10.02

  	
   

  	
  Appointment of
  the Administrative Agent

  	
   

  	
  44

  
	
  ARTICLE XI.

  	
   

  	
  Miscellaneous

  	
   

  	
  45

  
	
  Section 11.01

  	
   

  	
  Amendments, Etc

  	
   

  	
  45

  
	
  Section 11.02

  	
   

  	
  Notices

  	
   

  	
  46

  

 

 iii
 

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 11.03

  	
   

  	
  Payment of
  Expenses, Indemnities, Etc

  	
   

  	
  47

  
	
  Section 11.04

  	
   

  	
  No Waiver;
  Remedies

  	
   

  	
  51

  
	
  Section 11.05

  	
   

  	
  Right of Set-Off

  	
   

  	
  51

  
	
  Section 11.06

  	
   

  	
  Assignments and
  Participations

  	
   

  	
  52

  
	
  Section 11.07

  	
   

  	
  Invalidity

  	
   

  	
  55

  
	
  Section 11.08

  	
   

  	
  Entire Agreement

  	
   

  	
  55

  
	
  Section 11.09

  	
   

  	
  References

  	
   

  	
  55

  
	
  Section 11.10

  	
   

  	
  Successors;
  Survivals

  	
   

  	
  56

  
	
  Section 11.11

  	
   

  	
  Captions

  	
   

  	
  56

  
	
  Section 11.12

  	
   

  	
  Counterparts

  	
   

  	
  56

  
	
  Section 11.13

  	
   

  	
  Confidentiality

  	
   

  	
  56

  
	
  Section 11.14

  	
   

  	
  Governing Law;
  Submission to Jurisdiction

  	
   

  	
  57

  
	
  Section 11.15

  	
   

  	
  Yield

  	
   

  	
  57

  
	
  Section 11.16

  	
   

  	
  Characterization

  	
   

  	
  58

  
	
  Section 11.17

  	
   

  	
  Compliance

  	
   

  	
  59

  
	
  Section 11.18

  	
   

  	
  Facility

  	
   

  	
  59

  
	
  Section 11.19

  	
   

  	
  Funding Parties

  	
   

  	
  59

  
	
  Section 11.20

  	
   

  	
  Waiver of Jury
  Trial

  	
   

  	
  60

  
	
  Section 11.21

  	
   

  	
  Certain
  Acknowledgments of the Parties

  	
   

  	
  60

  
	
  Section 11.22

  	
   

  	
  Amendment and
  Restatement

  	
   

  	
  60

  
						

 

EXHIBITS

	
  Exhibit A

  	
  –

  	
  Legal Description of Site

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit B

  	
  –

  	
  Ownership Certificate

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit C

  	
  –

  	
  Form of Assignment and Acceptance

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit D

  	
  –

  	
  Form of legal opinion of counsel to the Company and
  the Guarantor

  	
   

  	
   

  

 

 iv
 

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit E

  	
  –

  	
  Form of Compliance Certificate

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit F

  	
  –

  	
  Form of Amended and Restated Guaranty

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhibit G

  	
  –

  	
  Form of Lessor Confirmation Letter

  	
   

  	
   

  

 

SCHEDULES

	
  Schedule 1.02

  	
  –

  	
  Defined Terms

  
	
   

  	
   

  	
   

  
	
  Schedule 1.02(b)

  	
  –

  	
  Pricing Schedule

  
	
   

  	
   

  	
   

  
	
  Schedule 1.02(c)

  	
  –

  	
  Limited Recourse Events of Default

  
	
   

  	
   

  	
   

  
	
  Schedule 7.01(e)

  	
  –

  	
  Litigation

  
	
   

  	
   

  	
   

  
	
  Schedule 7.01(h)

  	
  –

  	
  Subsidiaries

  
	
   

  	
   

  	
   

  
	
  Schedule 7.01(n)

  	
  –

  	
  Environmental Matters

  

 

 v

AMENDED AND RESTATED
INVESTMENT AND 

PARTICIPATION AGREEMENT

AMENDED AND RESTATED
INVESTMENT AND PARTICIPATION AGREEMENT (as the same may be amended, modified or
supplemented from time to time, this “Agreement” or the “Investment
Agreement”) dated as of January 11, 2007, by and among PROTECTIVE LIFE
INSURANCE COMPANY, a Tennessee corporation (the “Company”), WACHOVIA
DEVELOPMENT CORPORATION, as Lessor (the “Lessor”), WACHOVIA BANK,
NATIONAL ASSOCIATION, a national banking association, as administrative agent
for the Lessor and the Lease Participants (in such capacity, the “Administrative
Agent”), and each of the Lease Participants that is a party hereto or
becomes a party hereto as provided in Section 11.06 (individually, together
with its successors and assigns, a “Lease Participant,” and
collectively, together with their successors and assigns, the “Lease
Participants”).

RECITALS

WHEREAS, pursuant to the
Original Ground Lease (as this and other terms are used in these Recitals are
defined below), WCI acquired a ground lease of certain real property located in
Jefferson County, Alabama, described in greater detail on Exhibit A (the “Site”),
and has, pursuant to the Original Lease Documents, constructed and installed on
the Site an annex office building and a related parking deck and related
enhancements and improvements, including furniture, fixtures and equipment; and

WHEREAS, the Company,
acting as WCI’s agent pursuant to the terms of the Original Agency Agreement,
completed the construction and installation of all such enhancements and
improvements on the Site and currently provides certain operations,
maintenance, and management support in respect of the Facility; and

WHEREAS, pursuant to the Original Lease Agreement, WCI
leased the Facility to the Company; and

WHEREAS, to finance the
acquisition of the Lessor’s ground lease of the Site and the construction and
installation of the building, related parking deck and such related
enhancements and improvements on the Site for the use and benefit of the
Company in accordance with the Original Lease Agreement, WCI, at the Company’s
request, made Lessor Investments in the Facility in an aggregate principal
amount of $75,000,000, and the Lease Participants purchased Ownership Interests
from WCI; and

WHEREAS, to induce WCI
and the Lease Participants to enter into the Original Investment and
Participation Agreement and other Original Lease Documents, the Guarantor
executed and delivered the Original Guaranty Agreement in favor of WCI (for the
ratable benefit of the Lease Participants);

WHEREAS, the Company has
requested to refinance and extend the maturity of the Original Lease Agreement
by, among other things, entering into this Agreement, the Amended and Restated
Ground Lease, and the Amended and Restated Lease Agreement, and, in

anticipation of such refinancing and extension, WCI
has assigned 100% of its interest in the Original Lease Documents to Lessor
pursuant to the terms of the Lessor Assignment Agreement;

WHEREAS, Guarantor will
enter into the Amended and Restated Guaranty Agreement to, among other things
but subject to certain limitations, guarantee the obligations of the Company to
the Lessor (for the ratable benefit of certain of the Lease Participants);

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

ARTICLE
I.

DEFINED
TERMS AND ACCOUNTING MATTERS

Section 1.01   Terms Defined Above.  As used in this Agreement, the terms defined
in the preamble and above shall have the meanings indicated above.

Section 1.02   Certain Defined Terms.  As used herein, all capitalized terms used
but not otherwise defined herein shall have the meaning specified for such term
in Schedule 1.02.

Section 1.03   Accounting
Terms and Determinations.  Unless
otherwise specified herein, all terms of an accounting character used herein
shall be interpreted, all accounting determinations hereunder shall be made,
and all financial statements required to be delivered hereunder shall be
prepared, in accordance with GAAP (except that financial statements of the
Insurance Subsidiaries shall be prepared in accordance with SAP), applied on a
basis consistent (except for changes concurred with by the Guarantor’s  independent public accountants or
otherwise required by a change in GAAP) with the most recent audited
consolidated financial statements of the Guarantor and the Consolidated
Subsidiaries delivered to the Funding Parties unless with respect to any such
change concurred with by the Guarantor’s  independent
public accountants or required by GAAP or SAP, in determining compliance with
any of the provisions of this Agreement or any of the other Operative
Documents: (a) the Guarantor shall have objected to determining such compliance
on such basis at the time of delivery of such financial statements, or (b) the
Majority Funding Parties shall so object in writing within 30 days after the
delivery of such financial statements, in either of which events such
calculations shall be made on a basis consistent with those used in the
preparation of the latest financial statements as to which such objection shall
not have been made (which, if objection is made in respect of the first
financial statements delivered under Section 8.01, shall mean the financial
statements referred to in Section 7.01(d)).

ARTICLE
II.

COMMITMENTS

Section 2.01   Lessor
Investments; Purchase of Ownership Interests.

(a)           Lessor Investments.  The Company and Lessor acknowledge and agree
that all fundings of “Lessor Advances” and “Lease Participant Advances” (as
each of such terms was

 2
 

defined in the Original Investment and Participation
Agreement) were duly made pursuant to the Original Investment Agreement and
that, before the date hereof, all “Lessor Commitments” and “Lease Participant
Commitments” (as each of such terms was defined in the Original Investment and
Participation Agreement) expired or were terminated in their entirety.  All parties hereto as of the Restatement
Closing Date acknowledge and agree that (i) pursuant to the Initial Master
Assignment and Acceptance (which is deemed to be effective immediately before
the effectiveness of this Agreement), Lessor accepted 100% of the Lessor
Investments from all Lease Participants; (ii) pursuant to the terms of this
Agreement and the Secondary Master Assignment and Acceptance (which is deemed
effective contemporaneously herewith), all such Lessor Investments outstanding
immediately before the effectiveness of this Agreement are hereby deemed to be
recharacterized such that they constitute A Percentage Lessor Investments and B
Percentage Lessor Investments (with a portion of the B Percentage Lessor
Investments being in excess of the Non-Recourse Amount and the remainder being
attributable to the Non-Recourse Amount); and (iii) pursuant to the Secondary
Master Assignment and Acceptance, each of the Lease Participants under this
Agreement have accepted from Lessor such A Percentage Lessor Investments and/or
B Percentage Lessor Investments (and, consequently, related A Percentage
Ownership Interests and B Percentage Ownership Interests) as are indicated in
the Secondary Master Assignment and Acceptance and, as of the Restatement
Closing Date, the signature pages hereof.

(b)           On the Restatement Closing Date, and
after giving full effect to the Secondary Master Assignment and Acceptance, the
Lessor shall furnish to each Lease Participant, with a copy to the Company, a
certificate in the form of Exhibit B (an “Ownership Certificate”)
setting forth, as of the date hereof, the information described in Section
2.05(a).

Section 2.02   [Intentionally
Omitted].

Section 2.03   [Intentionally
Omitted].

Section 2.04   Certain
Supplemental Rent.  In addition to
other Supplemental Rent payable pursuant to the Operative Documents, the
Company shall pay to the Lessor (for its own account and for the account of any
other Person as specified below) the Supplemental Rent described in this
Section 2.04 pursuant to the provisions hereof.

(a)           [Intentionally Omitted].

(b)           The Company shall pay or cause to be
paid to the Lessor Supplemental Rent in the amount of 0.05% of the Unrecovered
Lessor Investments as of the Restatement Closing Date (the “Upfront
Supplemental Rent”).  The Upfront
Supplemental Rent shall be payable in full on the Restatement Closing
Date.  Promptly upon receipt by the
Lessor of such payment of the Upfront Supplemental Rent, it shall distribute to
each Lease Participant its Percentage Share thereof.

(c)           On the Restatement Closing Date, the
Company shall pay or cause to be paid to the Administrative Agent, for the
account of Arranger, Supplemental Rent in the amount set forth in the
Engagement and Fee Letter (the “Arranger’s Supplemental Rent”), which
Arranger’s Supplemental Rent shall be deemed fully earned on the Restatement
Closing Date and, once

 3
 

paid, shall be non-refundable.  The Company shall pay to Administrative
Agent, for its own account, an administrative fee in the amount of $25,000.00 per
year (the “Administrative Supplemental Rent”), which Administrative
Supplemental Rent shall be paid initially on the Restatement Closing Date and
on each anniversary thereof until the Lease Termination Date.  The Administrative Supplemental Rent shall be
deemed fully earned on the Restatement Closing Date and on each anniversary
thereof and, once paid, shall be non-refundable.

Section 2.05   Ownership Interests;
Administrative Agent as Administrative Agent; Record of Payments.

(a)           The Ownership Certificates furnished
by the Lessor pursuant to Sections 2.01(b), 3.02 and 11.06 shall evidence, as
of the date thereof, the aggregate amount of (i) all Lessor Investments, (ii)
the A Percentage Ownership Interests owned by the Lessor and each A Percentage
Lease Participant, (iii) the A Percentage Share of the Lessor and each A
Percentage Lease Participant, (iv) the percentage which the A Percentage Lessor
Investments bears to the total Lessor Investments, (v) the B Percentage
Ownership Interests owned by the Lessor and each B Percentage Lease
Participant, (vi) the B Percentage Share of the Lessor and each B Percentage
Lease Participant, (vii) the percentage which the B Percentage Lessor
Investments bears to the total Lessor Investments and (viii) with respect to each
B Percentage Lease Participant, the identification of that portion of such B
Percentage Lease Participant’s B Percentage Lessor Investments which is
attributable to the Non-Recourse Amount and that portion which is in excess of
the Non-Recourse Amount.  Such Ownership
Certificates shall be final and conclusive evidence of the amounts set forth
therein, in the absence of manifest error. 
The sale by the Lessor to the Lease Participants of Ownership Interests
shall be absolute sales, and the Lease Participants shall have no recourse to
the Lessor in the event of failure of the Company to pay any Rent, fees or
other amounts payable pursuant to the Lease, this Agreement and the other
Operative Documents which are attributable to their Ownership Interests, or
right to require the Lessor to repurchase their Ownership Interests in any
event.

(b)           The Lessor shall serve as the
servicing agent for the Lease Participants to collect and receive all payments
of Rent and other amounts payable pursuant to the Lease, this Agreement and the
other Operative Documents which are attributable to their Ownership Interests,
and such amounts, when received by the Lessor and until distributed to the
Lease Participants pursuant to the Lease, this Agreement or the other Operative
Documents, shall be held by the Lessor in trust for the Lessor and the Lease
Participants.  In accordance with Section
10.02, the parties hereto acknowledge and agree that the Administrative Agent
shall perform certain of the Lessor’s obligations and be entitled to certain
rights hereunder.

(c)           The Administrative Agent, on behalf
of the Lessor, shall maintain a record of payments of Rent and all other
amounts paid to the Lessor pursuant to the Lease, this Agreement and the other
Operative Documents, and the amounts paid by the Lessor to the Lease
Participants pursuant to this Agreement, and such record shall be final and
conclusive evidence of the amounts recorded therein, absent manifest
error.  A copy of such record shall be
made available to the Company and any Lease Participant upon its request.

 4
 

Section 2.06   Lessor
Confirmation Letter.  Upon Lessee’s
request made in writing, but no more frequently than once per fiscal quarter,
Lessor shall provide an update to the letter referred to in Section 6.01(h).

Section 2.07   [Intentionally
Omitted].

Section 2.08   [Intentionally
Omitted].

ARTICLE
III.

RECOVERY
OF LESSOR INVESTMENTS;

PAYMENT OF YIELD AND OTHER AMOUNTS

Section 3.01   Recovery
of Lessor Investments.

(a)           The Company will pay or cause to be
paid to the Lessor all Rent and other amounts payable to the Lessor, for the
account of the Lessor and the Lease Participants, as the case may be, including
all Unrecovered Lessor Investments, all accrued and unpaid Yield, Supplemental
Rent and other amounts owing under this Agreement and the other Operative
Documents, in full on the Maturity Date, subject to Section 3.01(b).

(b)           If, on or before the Maturity Date,
the Company or the Guarantor (or any of their respective  Affiliates) shall exercise the option to
purchase the Facility in its entirety, then the purchase price for the Facility
shall be equal to the Purchase Price and the proceeds of such sale, when
received by the Lessor, shall be applied by the Lessor in the order specified
in Section 3.05(a).  If, on the Maturity
Date, no Cancellation Event shall have occurred and the Company or the
Guarantor (or any of  their respective
Affiliates) shall elect to pay the Final Rent Payment and not to purchase the
Facility, and shall pay the Final Rent Payment, all amounts received by the
Lessor pursuant to or in connection with the Lease, this Agreement or any other
Operative Document or as proceeds of the disposition of the Facility shall be
applied by the Lessor to pay the Unrecovered Lessor Investments and all accrued
Yield (which shall be distributed ratably to the Funding Parties in accordance
with their respective Ownership Interests), and to the Persons entitled thereto
pursuant to the Operative Documents all Supplemental Rent and other amounts
owing under this Agreement in the order specified in Section 3.05(b).

Section 3.02   Redemptions.

(a)           On or after the third anniversary of
the Restatement Closing Date, the Company may from time to time, upon at least
2 Business Days’ notice to the Lessor which specifies the proposed date (which
shall be a Business Day) and aggregate principal amount of the redemption and
the Lessor Investments to be redeemed, and if such notice is given the Company
shall, as specified in such notice, redeem no later than 12:00 noon, Charlotte,
North Carolina, time, on such date, and the amount of such redemption payment,
when received by the Lessor, shall be applied to redeem, the outstanding
principal amounts of the Lessor Investments constituting A Percentage Lessor
Investments, in whole or ratably in part, together with accrued Yield to the
date of such redemption on the amount redeemed (and the Lessor shall, on the
same Business Day on which received, distribute to the A Percentage Lease
Participants as provided below; provided, however, that (i) each partial
redemption shall be in an aggregate principal amount not

 5
 

less than $1,000,000 or an integral multiple of
$500,000 in excess thereof, and (ii) in the event of any such redemption of
Lessor Investments on any day other than the last day of the Yield Period for
such Lessor Investments, the Company, as agent for the Lessor, shall be
obligated to reimburse the applicable Funding Parties in respect thereof
pursuant to, and to the extent required by, Section 5.05.  Any redemption pursuant to this Section 3.02
shall be allocated among the A Percentage Lessor Investments in accordance with
their respective A Percentage Shares. 
Within 5 Business Days after its receipt of such redemption amount, the
Lessor, at the expense of the Company, shall execute and deliver to each of the
Lease Participants a new Ownership Certificate, giving effect to such
redemption and dated the date thereof.

(b)           [Intentionally Omitted].

Section 3.03   Yield
on Lessor Investments; Overdue Amounts.

(a)           Yield shall accrue on the Lessor
Investments and be payable at a rate per annum equal to the Adjusted LIBO Rate
for the applicable Yield Period plus the Applicable Margin, but in no event to
exceed the Highest Lawful Rate (the “Yield”).

(b)           Notwithstanding the foregoing, the Company,
by the payment of additional Rent under the Lease, or otherwise, shall pay or
cause to be paid to the Lessor, at the applicable Default Rate on the amount of
Lessor Investments, Yield, Supplemental Rent or other amounts owing by the
Company under this Agreement or any other Operative Document which shall not be
paid in full when due (whether at stated maturity, by acceleration or
otherwise), for the period commencing on the due date thereof until the same is
paid in full, in each case to the maximum extent permitted by applicable law
(and the Lessor shall, on the day of receipt, if received prior to 2:00 p.m.,
Charlotte, North Carolina, time, or on the next succeeding Business Day, if
received at or after 2:00 p.m., Charlotte, North Carolina, time, distribute to
the Lease Participants their respective A Percentage Share or B Percentage
Share, as applicable, thereof, or to such other Person as shall be entitled
thereto pursuant to the Operative Documents).

(c)           Accrued Yield on the Lessor
Investments shall be payable on the last day of each Yield Period therefor and
on the Maturity Date. Yield payable at the Default Rate shall be payable from
time to time on demand.

(d)           Promptly after the determination of
the rate of any Yield provided for herein or any change therein, the Lessor
shall notify the Lease Participants which have an Ownership Interest in such
Yield and the Company of such determination or change.

Section 3.04   Payments
by Lessor.  All moneys received by
the Lessor pursuant to the Lease including, but not limited to, payments of
Basic Rent, Supplemental Rent, the Termination Value or the Final Rent Payment,
except for amounts allocable to fees and expenses of the Lessor pursuant to the
Operative Documents and amounts comprising Supplemental Rent payable to third
Persons, if any, shall be paid to the Funding Parties in accordance with, and
to pay amounts owing pursuant to, the terms of this Agreement, including
without limitation Section 4.01 and, if applicable, Section 3.05.

 6
 

Section 3.05   Applications
of Payments and Proceeds.

(a)           Upon the occurrence of (x) a
Cancellation Event or (y) a Termination Event (and the Company elects pursuant
to Section 15(a) of the Lease to exercise its option to purchase the Facility
for the Purchase Price), or if the Company otherwise elects to acquire the
Facility for the Purchase Price, the Purchase Price or the Termination Value,
as the case may be, and all other monies received by the Lessor (or the
Administrative Agent on the Lessor’s behalf) pursuant to or in connection with
the Lease, this Agreement or any other Operative Document, including, without
limitation, the proceeds of any insurance or condemnation awards received as a
result of any Casualty Occurrence or Loss Event, shall be applied in the following
order:

(i)            first, to pay or reimburse
all Supplemental Rent and other costs and expenses, including, without
limitation, those in connection with Indemnified Risks, increased costs, or
Taxes, then due and owing to the Funding Parties under the other Operative
Documents (collectively, the “Other Transaction Expenses”), pro rata to
each such Person;

(ii)           second, to pay all accrued,
unpaid Yield on the A Percentage Lessor Investments and the B Percentage
Lessor Investments, to the Lessor (who shall distribute pro rata to each of the
A Percentage Lease Participants and B Percentage Lease Participants its A
Percentage Share and/or B Percentage Share thereof, as applicable); and

(iii)          third,
in an amount equal to the aggregate outstanding principal balance of the A
Percentage Lessor Investments, to the Lessor (who shall distribute to each of
the A Percentage Lease Participants its A Percentage Share thereof); and

(iv)          fourth,
in an amount equal to the aggregate outstanding principal balance of that
portion of the B Percentage Lessor Investments which is in excess of the
Non-Recourse Amount, to the Lessor (who shall distribute to each of the B
Percentage Lease Participants its B Percentage Share thereof); and

(v)           fifth, in an amount equal to
the aggregate outstanding principal balance of that portion of the B Percentage
Lessor Investments which is attributable to the Non-Recourse Amount, to Lessor
(who shall distribute to each of the B Percentage Lease Participants its B
Percentage Share thereof).

Any monies remaining after payment in full of the
foregoing amounts and all other amounts owing by the Company from time to time
under the Operative Documents shall be paid to the Lessor for distribution to
the Company.

(b)           If (i) a Termination Event has
occurred, (ii) a Cancellation Event does not exist and (iii) the Company has
not elected to purchase the Facility for the Purchase Price, and has paid the
Final Rent Payment pursuant to Section 15(a) of the Lease, then the Final Rent
Payment shall be applied as follows:

(i)            first, to pay or reimburse
all Other Transaction Expenses;

 7
 

(ii)           second, to pay all accrued,
unpaid Yield on the A Percentage Lessor Investments and the B Percentage Lessor
Investments, to the Lessor (who shall distribute pro rata to each of the A
Percentage Lease Participants and B Percentage Lease Participants its A
Percentage Share and/or B Percentage Share thereof, as applicable);

(iii)          third,
in an amount equal to the aggregate outstanding principal balance of the A
Percentage Lessor Investments, to the Lessor (who shall distribute to each of
the A Percentage Lease Participants its A Percentage Share thereof); and

(iv)          fourth,
in an amount equal to the aggregate outstanding principal balance of that
portion of the B Percentage Lessor Investments which is in excess of the
Non-Recourse Amount, to the Lessor (who shall distribute to each of the B
Percentage Lease Participants its B Percentage Share thereof); and

(v)           fifth,
the balance, if any, to be applied as provided in the following provisions of
this paragraph (b).

In such circumstances, all other monies received by
the Lessor pursuant to or in connection with the Lease, this Agreement or any
other Operative Document or as proceeds of disposition of the Facility shall be
applied as follows:

(i)            first, to pay to the Lessor
(who shall distribute to each of the B Percentage Lease Participants its B
Percentage Share thereof), an amount equal to the aggregate outstanding
principal balance of that portion of the B Percentage Lessor Investments which
is attributable to the Non-Recourse Amount, excluding the portion thereof
attributable to the Lessor Equity Interest;

(ii)           second, to pay to the Lessor,
for its own account, an amount equal to the aggregate outstanding principal
balance of that portion of the B Percentage Lessor Investments attributable to
the Lessor Equity Interest; and

(iii)          third, to reimburse the Company
for Support Expenses.

Any monies remaining after payment in full of the
foregoing amounts and all other amounts owing by the Company from time to time
under the Operative Documents shall be paid to the Lessor for distribution to
the Company.

(c)           If the circumstances described in
Section 3.05(b)(i) and (ii) exist, but the Company has either failed to elect
to exercise its option to purchase the Facility, failed to make the Final Rent
Payment and/or failed to furnish to the Lessor a satisfactory update of the
environmental reports initially furnished with respect to the Facility, then
the Lessor will be entitled to exercise foreclosure remedies set forth in
Section 26 of the Lease and all moneys received by the Lessor from the
disposition of the Facility or other foreclosure action, net of enforcement
costs, will be applied (i) first, to payment of the Unrecovered Lessor
Investments attributable to that portion of the principal balance of the B
Percentage Lessor Investments which is attributable to the Non-Recourse Amount,
but excluding the portion thereof attributable to the Lessor Equity Interest
(which payment shall be distributed to each of the B Percentage Lease
Participants according to its B Percentage Share thereof), (ii) second,
to the remaining

 8
 

Unrecovered Lessor Investments attributable to the
Lessor Equity Interest (which shall be retained by the Lessor), and (iii) third,
any remaining net proceeds shall be applied in accordance with 3.05(a) in the
same manner as if the Final Rent Payment had been made, and in such
circumstances, the Company shall remain liable for any deficiency in such
remaining net proceeds to pay such amounts described in Section 3.05(a).

ARTICLE
IV.

PAYMENTS;
COMPUTATIONS; ETC.

Section 4.01   Payments.  The Company (or, in the case of the principal
amount of the B Percentage Lessor Investments in the circumstances described in
Section 3.05(b) and if the Company shall have paid the Final Rent Payment, the
Lessor), shall make each payment under this Agreement, whether the amount so
paid is owing to any or all of the Funding Parties, not later than 12:00
noon, Charlotte, North Carolina, time, without setoff, counterclaim, or any
other deduction whatsoever, on the day when due in Dollars to the Lessor c/o
the Administrative Agent, at its address: Wachovia Bank, National Association,
301 S. College Street, MC 0174, Charlotte, North Carolina 28288, Attention:
Gabrielle Braverman, Reference: Protective Life Insurance Company Facility, or
at such other location designated by notice to the Company from the Lessor, in
same day funds,.  The Lessor will
promptly thereafter (on the same day received, if received by 2:00 p.m.,
Charlotte, North Carolina, time) cause to be distributed to the other Funding
Parties like funds relating to the payment of principal or Yield ratably (other
than amounts payable pursuant to Section 4.06 or 11.03 or Article V) according
to the respective amounts of such principal or Yield then due and owing to the
Funding Parties, to be applied in accordance with the terms of this
Agreement.  Upon its acceptance of an
Assignment and Acceptance and recording of the information contained therein in
the Register pursuant to Section 11.06(d), from and after the effective date
specified in such Assignment and Acceptance, the Lessor shall make all payments
under this Agreement in respect of the interest assigned thereby to the
assignee thereunder, and the parties to such Assignment and Acceptance shall
make all appropriate adjustments in such payments for periods prior to such
effective date directly between themselves. 
Any payments and redemptions received hereunder, other than after the
occurrence and during the continuation of a Cancellation Event or Termination
Event, shall be applied in accordance with the purpose for which such payment
or redemption is made.  All payments by
the Company under any Operative Document shall be made in the manner specified
in this Article IV.

Section 4.02   Pro
Rata Treatment.  Except to the extent
otherwise provided herein:  (a) each
payment of A Percentage Lessor Investments and B Percentage Lessor Investments
received by the Lessor shall be distributed to the A Percentage Lease
Participants and B Percentage Lease Participants, as applicable, pro rata in
accordance with their respective A Percentage Ownership Interests and B
Percentage Ownership Interests, as applicable; (b) each payment of A Percentage
Yield and B Percentage Yield received by the Lessor shall be distributed to the
A Percentage Lease Participants and B Percentage Lease Participants pro rata in
accordance with their respective A Percentage Ownership Interests and B
Percentage Ownership Interests, as applicable; and (e) each amount received by
a setoff by any Funding Party pursuant to Section 11.05 shall be shared with
all other Funding Parties so that each Funding Party receives its A Percentage
Share and B Percentage Share, respectively, thereof.

 9
 

Section 4.03   Computations.  All computations of Yield shall be made by
the Lessor, on the basis of a year of 360 days (or, in the case of computations
based on the Prime Rate, 365/366 days), in each case for the actual number of
days (including the first day but excluding the last day) occurring in the
period for which such Yield is payable. 
Whenever any payment hereunder shall be stated to be due on a day other
than a Business Day, such payment shall be made on the next succeeding Business
Day, and such extension of time in such case shall be included in the
computation of payment of Yield; provided, however, that if such extension
would cause payment of Yield on or amount of any Lessor Investment to be made
in the next following calendar month, such payment shall be made on the next
preceding Business Day.

Section 4.04   Non-receipt
of Funds by the Lessor.  Unless the
Lessor shall have received notice from the Company, as Lessee under the Lease,
prior to the date on which any payment is due to the Funding Parties hereunder
that the Company will not make such payment in full, the Lessor may assume that
the Company, as Lessee under the Lease, has made such payment in full to the
Lessor on such date and the Lessor may, in reliance upon such assumption, but
shall not be obligated to, cause to be distributed to each Lease Participant on
such due date an amount equal to the amount then due such Lease
Participant.  If and to the extent the
Lessor or the Company shall not have so made such payment in full to the
Lessor, each Lease Participant shall repay to the Lessor forthwith on demand
such amount distributed to such Lease Participant together with interest
thereon, for each day from the date such amount is distributed to such Lease
Participant until the date such Lease Participant repays such amount to the
Lessor, at a rate equal to (i) until the Business Day after the Business Day on
which such demand is made, the Federal Funds Rate for such day and (ii)
thereafter 50 basis points above the Federal Funds Rate for such day.

Section 4.05   Sharing
of Payments.  If any Funding Party
shall obtain any payment (whether voluntary, involuntary, through the exercise
of any right of set-off, or otherwise) on account of its Ownership Interests
(other than pursuant to Section 4.06 or 11.03 or Article V) in excess of its
ratable share of payments then due and owing to it in accordance with the
payment orders specified in Section 3.05 or Section 4.02 on account of the
Lessor Investments obtained by all the Funding Parties, such Funding Party
shall forthwith purchase from the other Funding Parties participations in such
Ownership Interests of the other Funding Parties, as shall be necessary to
cause such purchasing Funding Party to share the excess payment ratably with
each of them (or, if necessary, to cause such purchasing Funding Party to
assume the payment priority specified in Section 3.05), provided, however, that
if all or any portion of such excess payment is thereafter recovered from such
purchasing Funding Party, such purchase from each Funding Party shall be
rescinded and each Funding Party shall repay to the purchasing Funding Party
the purchase price to the extent of such recovery together with an amount equal
to such Funding Party’s A Percentage Share or B Percentage Share, as
applicable.  The Company agrees that any
Funding Party so purchasing a participation from another Funding Party pursuant
to this Section may, to the fullest extent permitted by law, exercise all its
rights of payment (including any right of set-off) with respect to such participation
as fully as if such Funding Party were the direct creditor of the Company in
the amount of such participation.

Section 4.06   Taxes.

(a)           Any and all payments of principal,
Yield and all other amounts to be paid to the Lessor, for itself or for distribution
to any Lease Participant, by the Company, as Lessee under

 10
 

the Lease, or any other Operative Document to each
Indemnified Party, shall be made, in accordance with Section 4.01, without
deduction for, and free from, any tax, imposts, levies, duties, deductions, or
withholdings of any nature now or at any time hereafter imposed by any
Governmental Authority or by any taxing authority thereof or therein, excluding
in the case of each Funding Party, taxes imposed on or measured by the net
income or net worth of any Funding Party, and franchise taxes imposed on such
Funding Party (all such non-excluded taxes, imposts, levies, duties, deductions
or withholdings of any nature being “Taxes”).  In the event that the Lessor or Company, as
Lessee under the Lease, is required by applicable law to make any such
withholding or deduction of Taxes with respect to any Ownership Interest or
other amount, the Company, as Lessee under the Lease, shall pay such deduction
or withholding to the applicable taxing authority, shall promptly furnish to
any Funding Party or other Person in respect of which such deduction or
withholding is made all receipts and other documents evidencing such payment
and shall pay to such Funding Party or other Person additional amounts as may
be necessary in order that the amount received by such Funding Party or other
Person after the required deduction or withholding shall equal the amount such
Funding Party would have received had no such deduction or withholding been
made.

(b)           Each Lease Participant that is not
chartered and organized under the laws of the United States of America or a
state thereof (each a “Non-U.S. Domestic Participant”) agrees, as soon
as practicable after receipt by it of a request by the Lessor or the Company,
as Lessee under the Lease, to do so, to file all appropriate forms and take
other appropriate action to obtain a certificate or other appropriate document
from the appropriate governmental authority in the jurisdiction imposing the
relevant taxes, establishing that it is entitled to receive payments of
principal and Yield under or in respect of this Agreement and its Ownership
Interests without deduction and free from withholding of any Taxes imposed by
such jurisdiction; provided, that, if it is unable, by virtue of
any applicable law, rule or regulation, to establish such exemption or to file
such forms and, in any event, during such period of time as such request for
exemption is pending, the Company, as Lessee under the Lease, shall nonetheless
remain obligated under the terms of the immediately preceding paragraph.  Without limiting the foregoing, each Non-U.S.
Domestic Participant agrees to deliver to the Lessor and to the Company, as
Lessee under the Lease, promptly upon any request therefor from time to time,
such forms, documents and other information as may be required by applicable
law from time to time to establish that payment to such Non-U.S. Domestic
Participant hereunder or with respect to its Ownership Interests or under the
Guaranty are exempt from Taxes.  Without
limiting the generality of the foregoing, each Non-U.S. Domestic Participant
agrees, on the date of its execution of this Agreement (or, in the case of an
Eligible Assignee, on the date on which such Eligible Assignee becomes a party
to this Agreement), to deliver in duplicate to the Lessor and to the Company,
as Lessor under the Lease, accurate and duly completed and executed Internal
Revenue Service Form 4224 or 1001 (as applicable), together with Internal
Revenue Service Forms W-8 or W-9, as appropriate, establishing that such
Non-U.S. Domestic Participant is entitled to a complete exemption from all
Taxes imposed by the federal government of the United States by way of
withholding, including without limitation, all backup withholding (“U.S.
Withholding Taxes”).  Thereafter,
from time to time (i) upon any change by a Non-U.S. Domestic Participant of its
Applicable Funding Office, (ii) before or promptly after any event occurs
(including, without limitation, the passing of time) requiring a change in or
update of the most recent Form 4224 or 1001 previously delivered by such  Non-U.S. Domestic Participant, or (iii) upon
the reasonable request of the Lessor or the Company, as Lessee under the Lease,
such Non-U.S. Domestic Participant

 11
 

shall deliver in duplicate to the Lessor and to the
Company, as Lessee under the Lease, accurate and duly completed and executed
Form 4224 or 1001 (as applicable) (together with Forms W-8 or W-9, as
aforesaid) in replacement of the forms previously delivered by such Non-U.S.
Domestic Participant, establishing that such Non- U.S. Domestic Participant is
entitled to an exemption in whole or in part from all U.S. Withholding Taxes
except to the extent that a change in law has rendered all such forms
inapplicable to such Non-U.S. Domestic Participant.

(c)           If the Internal Revenue Service or
any other taxation authority in the United States or in any other jurisdiction
successfully asserts a claim that such Non-U.S. Domestic Participant, the
Lessor or the Company, as Lessee under the Lease, did not properly withhold tax
from amounts paid to or for the account of any Non-U.S. Domestic Participant or
its participant (because the appropriate form was not properly executed, or
because such Non-U.S. Domestic Participant failed to notify the Lessor,
Company, as Lessee under the Lease, of a change in circumstances which rendered
the exemption from (or reduction in) U.S. Withholding Taxes ineffective), such
Non-U.S. Domestic Participant shall indemnify the Company, as Lessee under the
Lease, fully for all amounts paid, directly or indirectly, by the Lessor or the
Company, as Lessee under the Lease, as applicable, as tax or otherwise,
including, without limitation, penalties and interest.

(d)           In the event any Funding Party
receives a refund from the Governmental Authority to which such Taxes were paid
of any Taxes paid by the Company pursuant to this Section 4.06, it will pay to
the Company the amount of such refund promptly upon receipt thereof; provided,
however, if at any time thereafter it is required to return such refund, the
Company shall promptly repay to it the amount of such refund.

(e)           Nothing in this Section shall require
any Funding Party to disclose any information about its tax affairs or
interfere with, limit or abridge the right of any Funding Party to arrange its
tax affairs in any manner in which it desires.

(f)            Without prejudice to the survival of
any other agreement of the Company hereunder, the agreements and obligations of
the Company and the Funding Parties contained in this Section 4.06 shall be
applicable with respect to any Funding Party, Eligible Assignee or other
transferee, and any calculations required by such provisions (i) shall be made
based upon the circumstances of such Funding Party, Eligible Assignee or other
transferee (subject to Section 11.06(j)), and (ii) constitute a continuing
agreement and shall survive for a period of 2 years after the termination of
this Agreement and the payment in full of the Lessor Investments.

ARTICLE
V.

YIELD
PROTECTION AND ILLEGALITY

Section 5.01   Basis
for Determining Yield Rate Inadequate or Unfair.  The Lessor shall give prompt notice to the
Company and the Lease Participants of the applicable Yield determined by the
Lessor for purposes of Sections 3.03(a) and (b).  If on or prior to the first day of any Yield
Period:

 12
 

(a)           the Lessor determines that deposits
in Dollars (in the applicable amounts), are not being offered in the relevant
market for such Yield Period, or

(b)           the Majority Funding Parties
determine and give notice to the Lessor that the rates or yield determined on
the basis of the LIBO Rate for any Yield Period for Lessor Investments or Lease
Participant Investments will not adequately and fairly reflect the cost to
Majority Funding Parties of maintaining their respective Lessor Investments or
Lease Participant Investments for such Yield Period, the Lessor shall forthwith
so notify the Company and the Lease Participants, whereupon,

(i)            in the case of such notice from the
Majority Funding Parties, the Lessor Investments and Lease Participant
Investments will automatically, on the last day of the then existing Yield
Period, accrue Yield at a rate based upon the Base Rate plus the Applicable
Margin as set forth in the Pricing Schedule, and

(ii)           the obligation of the Majority
Funding Parties to maintain Lessor Investments or Lease Participant
Investments, as applicable, at the Adjusted LIBO Rate shall be suspended until
the Lessor shall notify the Company and the Lease Participants that the
circumstances causing such suspension no longer exist.

Upon the written request of the Company, the Lessor
shall negotiate with the Company and the relevant Lease Participants for a
reasonable period of time, as determined in the Lessor’s discretion, to develop
a substitute interest rate basis hereunder; provided, however, (x) the Lessor,
the Lease Participants and the Company make no representation, warranty or
covenant that any such agreement will be made, and (y) any relevant Lessor
Investments and Lease Participant Investments shall continue to have Yield
accrue thereon at the Base Rate during the continuance of any such negotiations
and thereafter should no alternate interest rate be agreed to by the necessary
parties.

Section 5.02   Illegality.  If, after the date hereof, the adoption of
any applicable law, rule or regulation, or any change therein, or any change in
the interpretation or administration thereof by any governmental authority,
central bank or comparable agency charged with the interpretation or
administration thereof (any such agency being referred to as a “Banking
Authority” and any such event being referred to as a “Change of Law”),
or compliance by any Funding Party (or its Applicable Funding Office) with any
request or directive (whether or not having the force of law) of any Banking
Authority shall make it unlawful or impossible for any Funding Party (or its
Applicable Funding Office) to make or maintain its Lessor Investments or Lease
Participant Investments, as applicable, based upon the Adjusted LIBO Rate and
such Funding Party (if not the Lessor) shall so notify the Lessor, the Lessor
shall forthwith give notice thereof to the other Funding Parties and to the
Company and the Guarantor, whereupon until such Funding Party notifies the
Lessor (if it is not such Funding Party), the other Funding Parties, the
Company and the Guarantor that the circumstances giving rise to such suspension
no longer exist, the obligation of such Funding Party to make or maintain
Lessor Investments or Lease Participant Investments, as applicable, based upon
the Adjusted LIBO Rate shall be suspended. 
Before giving any notice to the Lessor (or, in the case of the Lessor as
a Funding Party, to the Company) pursuant to this Section, such Funding Party
shall designate a different Applicable Funding Office if such designation will
avoid the need for giving such notice and will

 13
 

not, in the judgment of such Funding Party, be
otherwise disadvantageous to such Funding Party.  If such Funding Party shall determine that it
may not lawfully continue to maintain and fund any of its outstanding Lessor
Investments or Lease Participant Investments, as applicable, to maturity and
shall so specify in such notice, the Company shall immediately redeem the full
amount of the Lessor Investments (if such Funding Party is the Lessor) together
with Yield thereon, or the full amount of such Funding Party’s Lease
Participant Investments (if such Funding Party is not the Lessor) together with
Yield thereon.  At any time within 90
days after the giving of a notice by any Lease Participant pursuant to this
Section 5.02, so long as no Event of Default shall be in existence, and so long
as the Lessor has granted its consent (which it may grant or withhold in its
sole and absolute discretion), the Company may require by written notice to
that Lease Participant that (a) it assign its Lease Participant Investments to
another Lease Participant or to a bank or other financial institution selected
by the Company which is willing to accept such assignment or (b) it surrender its
Lease Participant Investments and terminate its rights and obligations as a
Lease Participant hereunder, concurrently with a redemption by the Company of
the Lease Participant Investments of such Lease Participant together with Yield
thereon (which redemption and Yield shall be paid to such Lease Participant).

Section 5.03   Increased
Cost and Reduced Return.

(a)           If after the date hereof, a Change of
Law or compliance by any  Funding Party
(or its Applicable Funding Office) with any request or directive (whether or
not having the force of law) of any Banking Authority:

(i)            shall subject any Funding Party (or
its Applicable Funding Office) to any tax, duty or other charge on its Lessor
Investments or Lease Participant Investments, or maintain its Lessor Investments
or Lease Participant Investments or shall change the basis of taxation of
payments to any Funding Party (or its Applicable Funding Office) of the
principal amount of or interest on its Lessor Investments or Lease Participant
Investments, or Yield thereon or any other amounts due under this Agreement or
any other Operative Document in respect of its Lessor Investments or Lease
Participant Investments (except for changes in the rate of any tax based on the
net income, net worth or gross receipts of such Funding Party or its Applicable
Funding Office); or

(ii)           shall impose, modify or deem
applicable any reserve, special deposit or similar requirement (including,
without limitation, any such requirement imposed by the Board of Governors of
the Federal Reserve System, but excluding any such requirement included in an
applicable Euro-Dollar Reserve Percentage) against assets of, deposits with or
for the account of, or credit extended by, any Funding Party (or its Applicable
Funding Office); or

(iii)          shall
impose on any Funding Party (or its Applicable Funding Office) or on the United
States market or the London interbank market any other condition affecting its
Lessor Investments or Lease Participant Investments, or obligation to make or
maintain Lessor Investments or Lease Participant Investments;

and the result of any of the foregoing is to increase
the cost to such Funding Party (or its Applicable Funding Office) of making or
maintaining any Lessor Investments or Lease

 14
 

Participant Investments, or to reduce the amount of
any sum received or receivable by such Funding Party (or its Applicable Funding
Office) under this Agreement or any other Operative Document with respect
thereto, by an amount deemed by such Funding Party to be material, then, within
fifteen (15) days after demand by such Funding Party (with a copy to the
Lessor, if it is not such Funding Party), the Company shall pay to such Funding
Party such additional amount or amounts as will compensate such Funding Party
for such increased cost or reduction; provided, however, that no
such amount may be claimed by any Funding Party which is attributable to
periods prior to the date which is 180 days preceding the date on which the
officer of the Funding Party having primary responsibility for asset-liability
management shall have obtained actual knowledge of such Change of Law or
request or directive.  At any time within
90 days after payment by the Company of any material amount to any Lease
Participant or Lease Participants pursuant to paragraph (a) or (b) of this
Section, so long as no Event of Default shall be in existence, and so long as
the Lessor has granted its consent (which it may grant or withhold in its sole
and absolute discretion), the Company may require by written notice to each
such Lease Participant that (i) it assign its Lease Participant Investments to
another Lease Participant or to a bank or other financial institution selected
by the Company which is willing to accept such assignment or (ii) it surrender
its Lease Participant Investments and terminate its rights and obligations as a
Lease Participant hereunder, concurrently with a redemption by the Company of
the Lessor Investments by an amount equal to the Lease Participant Investments
held by that Lease Participant together with Yield thereon (which redemption
and Yield shall be paid to such Lease Participant).

(b)           If any Funding Party shall have
determined that after the date hereof the adoption of any applicable law, rule
or regulation regarding capital adequacy, or any change therein, or any change
in the interpretation or official administration thereof, or compliance by any
Funding Party (or its Applicable Funding Office) or any Person controlling such
Funding Party with any request or directive regarding capital adequacy (whether
or not having the force of law) of any Banking Authority, has or would have the
effect of reducing the rate of return on such Funding Party’s or such
controlling Person’s capital as a consequence of its obligations hereunder to a
level below that which such Funding Party or such controlling Person could have
achieved but for such adoption, change or compliance (taking into consideration
such Funding Party’s or such controlling Person’s policies with respect to
capital adequacy) by an amount deemed by such Funding Party or such controlling
Person to be material, then from time to time, within 15 days after demand by
such Funding Party or such controlling Person, the Company shall pay to such
Funding Party such additional amount or amounts as will compensate such Funding
Party or such controlling Person for such reduction, subject to the proviso at
the end of Section 5.03(a).

(c)           Each Funding Party will promptly
notify the Lessor (if such Funding Party is a Lease Participant) and the
Company of any event of which its officer having primary responsibility for
asset-liability management has knowledge, which occurs or is expected to occur
after the date hereof, which will entitle such Funding Party to compensation
pursuant to and subject to the limitations contained in this Section and will
designate a different Applicable Funding Office if such designation will avoid
the need for, or reduce the amount of, such compensation and will not, in the
reasonable judgment of such Funding Party, be otherwise materially disadvantageous
to such Funding Party.  A certificate of
any Funding Party claiming compensation under this Section and setting forth in
reasonable detail the additional amount or amounts to be paid to it hereunder shall
be presumed to be correct in the absence of manifest

 15

error.  In
determining such amount, such Funding Party may use any reasonable averaging
and attribution methods.  Nothing in this
Section shall require any Funding Party to disclose any information about its
tax affairs or interfere with, limit or abridge the right of any Funding Party
to arrange its tax affairs in any manner it desires, subject to Section
11.16(b).

(d)           The provisions of this Section 5.03
shall (i) be applicable with respect to any Funding Party, assignee or other
transferee, and any calculations required by such provisions shall be made
based upon the circumstances of such Funding Party, assignee or other
transferee and (ii) constitute a continuing agreement and shall survive for a
period of one year after the termination of this Agreement and the redemption
in full of the Lessor Investments and Lease Participant Investments.

Section 5.04   Base
Rate Substituted for Adjusted LIBO Rate. 
If (i) the obligation of any Funding Party to make or maintain Lessor
Investments or Lease Participant Investments has been suspended pursuant to
Section 5.02 or (ii) any Funding Party has demanded compensation under Section
5.03, and the Company shall, by at least 5 Business Days’ prior notice to such
Funding Party, with a copy to the Lessor (if it is not such Funding Party),
have elected that the provisions of this Section shall apply to such Funding
Party, then, unless and until such Funding Party notifies the Lessor (if it is
not such Funding Party) and the Company that the circumstances giving rise to
such suspension or demand for compensation no longer apply:

(a)           all Lessor Investments or Lease
Participant Investments that would otherwise be made or maintained by such
Funding Party (and Lessor Investments related thereto, if such Funding Party is
a Lease Participant) based upon the Adjusted LIBO Rate shall be made or, from
the beginning of the next Yield Period therefor, be maintained instead based
upon the Base Rate, plus the Applicable Margin (in all cases Yield and
principal or other amounts payable on such Lessor Investments and/or Lease
Participant Investments shall be payable contemporaneously with the related or
comparable amount payable in respect of the other Funding Parties), and

(b)           after each of the Lessor Investments
and/or Lease Participant Investments made or maintained based upon the Adjusted
LIBO Rate has been repaid, all payments of principal that would otherwise be
applied to redeem such Lessor Investments and/or Lease Participant Investments
shall be applied to redeem Lessor Investments and/or Lease Participant
Investments made or maintained based upon the Base Rate instead.

Section 5.05   Compensation.  Upon the request of any Funding Party,
delivered to the Lessor (if it is not such Funding Party) and the Company, the
Company shall pay to such Funding Party such amount or amounts as shall
compensate such Funding Party for any loss, cost or expense incurred by such
Funding Party as a result of any payment, prepayment or redemption
(pursuant to Section 5.02 or otherwise) of a Lessor Investment or Lease
Participant Investment on a date other than the last day of the Yield Period
therefor.

Section 5.06   Payments
and Computations.  Each determination
by the Lessor of Yield, or by any Funding Party of an increased cost or
increased capital or of illegality hereunder, shall be presumed to be correct
and binding for all purposes (absent manifest error) if made reasonably and in
good faith, subject to Section 5.03(c).

 16
 

ARTICLE
VI.

CONDITIONS
PRECEDENT

Section 6.01   Conditions
Precedent to Effectiveness of this Agreement.  This Agreement shall become effective when
(i) it shall have been executed by the Lessor and the Company and any A
Percentage Lease Participants and B Percentage Lease Participants required by
the Lessor as of the Restatement Closing Date and delivered to the office of
the Lessor in Charlotte, North Carolina, (ii) the Lessor either shall have been
notified at its office in Charlotte, North Carolina, by each A Percentage Lease
Participant and B Percentage Lease Participant which it requires to be a Lease
Participant as of the Restatement Closing Date that it has executed this
Agreement or shall have received at its office in Charlotte, North Carolina, or
by Lessor’s counsel, a counterpart of this Agreement executed by such A
Percentage Lease Participant and/or B Percentage Lease Participants, and (iii)
the Lessor (or the Funding Parties, as specified below) shall have received at
its office in Charlotte, North Carolina, or by Lessor’s counsel, the following,
each being in form and substance satisfactory to the Lessor and (as to this
Agreement and the opinions described below) in sufficient counterparts for each
Lease Participant:

(a)           Certificates of Company and
Guarantor.  Certificates of the
Secretary or Assistant Secretary of each of the Company and the Guarantor
setting forth (i) resolutions of its board of directors authorizing the
execution, delivery and performance of the obligations contained in this
Agreement, with respect to the Company, and the other Operative Documents to which
it is a party,  with respect to the
Company and the Guarantor, (ii) the officers of the Company and the Guarantor
specified in such Secretary’s Certificates that are authorized to sign this
Agreement and the other Operative Documents to which the Company or the
Guarantor is a party and, until replaced by another officer or officers duly
authorized for that purpose, to act as its respective representative for the
purposes of signing documents and giving notices and other communications in
connection with this Agreement and the Operative Documents to which it is a
party and (iii) true and correct copies of the articles or certificate of
incorporation and the bylaws of each of the Company and the Guarantor.  The parties to this Agreement may
conclusively rely on such certificate until the Lessor (who shall promptly
notify all other parties) receives notice in writing from the Company or the
Guarantor, as the case may be,  to the
contrary.

(b)           Opinion of Company’s and Guarantor’s
Counsel.  Favorable opinions of Sutherland,
Asbill & Brennan LLP, special counsel to the Company and the Guarantor,
Balch and Bingham LLP, special Alabama counsel to the Company and the
Guarantor, Bass, Berry & Sims, special Tennessee counsel to the Company and
the Guarantor, and a senior in-house attorney working under the General Counsel
of the Company and the Guarantor (together with a certificate from the Company’s
and Guarantor’s general counsel in form and substance satisfactory to Lessor to
the effect that such senior attorney is authorized and permitted to deliver
such opinion under the respective bylaws, articles or certificate of
incorporation, and internal policies and procedures of the Company and the
Guarantor), in the aggregate covering the matters addressed in Exhibit D, and
as to such other matters as any Funding Party, through the Lessor, may
reasonably request.

 17
 

(c)           Execution and Delivery of
Operative Documents.  Each of the
other Operative Documents, including the Guaranty, duly completed and executed
in sufficient number of counterparts for recording where appropriate.

(d)           Recordation of Security
Instruments.  The Security
Instruments (to the extent filing thereof is required for perfection or
otherwise under applicable law) and all related financing statements and other requisite
filing documents shall have been duly filed in the appropriate offices and, to
the fullest extent allowed by applicable law, all costs and taxes associated
with such filing shall have been paid or provided for by the Company.

(e)           Insurance Certification.  The Lessor shall have received a certificate
by a firm of independent insurance brokers or consultants chosen by the Company
setting forth the insurance obtained, and to be obtained pursuant to the Lease,
with respect to the Facility and the Company’s operations with respect thereto.

(f)            Lessor Assignment Agreement.  The Lessor and WCI shall have executed and
delivered the Lessor Assignment Agreement.

(g)           Environmental Matters.  The Funding Parties, the Arranger, and the
Administrative Agent shall have received an Environmental Assessment on the
Site, conducted not more than 90 days before the Restatement Closing Date,
demonstrating to their satisfaction that there is no evidence of any hazardous
or toxic material or substance which has been generated, treated, stored,
released or disposed of on the Site, and that there is no evidence of any
violation of any Environmental Requirement and no evidence of any Environmental
Damages on or pertaining to the Facility, except as are specified on Schedule 7.01(n).

(h)           Lessor Confirmation Letter.  The Lessor shall have executed and delivered
to Lessee a Lessor confirmation letter in the form of Exhibit G,
attached hereto and made a part hereof.

(i)            Survey.  The Lessor shall have received Surveys
respecting the Annex Building and the Parking Deck.

(j)            Appraisal.  The Funding Parties shall have received an
Approved Appraisal of the Property, which Approved Appraisal shall be in form
and substance satisfactory to the Funding Parties, the Arranger, and the
Administrative Agent, shall not have been conducted more than 90 days before
the Restatement Closing Date, and shall indicate the estimated fair market
value of the Facility as of the Restatement Closing Date.

(k)           Title Insurance.  A title insurance company acceptable to the
Lessor in its reasonable discretion shall have issued, or provided the Lessor
with evidence satisfactory to the Lessor that such title insurance company is
irrevocably obligated to issue immediately after closing of the assignment of
the Original Ground Lease (and the corresponding leasehold interest in the
Site) from WCI to Lessor pursuant to the Lessor Assignment Agreement and the
amendment and restatement thereto as set forth in the Ground Lease, an owner’s
title policy issued to the Lessor insuring the leasehold interest of the Lessor
in the Site and, in the event that the Lease is ever deemed to be a mortgage,
as mortgagee of the Facility under the Lease.

 18
 

(l)            No Default.  The fact that no Default or Event of Default
shall have occurred and be continuing (under the Original Lease Documents).

(m)          Accuracy of Representations, etc.  The representations and warranties of the
Company contained in this Agreement, and the representations and warranties of
the Company and the Guarantor contained in any other Operative Document, are
true and correct in all material respects.

(n)           Related Contracts; Title.  The Lessor shall have good and marketable
title to the Facility; and the Lessor shall have received executed copies of
all Related Contracts requested by it.

(o)           Receipt of Applicable Permits.  All Applicable Permits shall have been
obtained.  All Applicable Permits shall
be in proper form, in full force and effect and not subject to any appeal or
other unsatisfied contest that may allow modification or revocation thereof.

(p)           Casualties.  The Facility shall not have suffered (i) a
Loss Event or (ii) a Casualty Occurrence other than a Casualty Occurrence for
which a plan reasonably acceptable to the Lessor for replacing, or causing to
be replaced, the portions of the Facility that are the subject of such Casualty
Occurrence has been provided to the Lessor.

(q)           No Material Adverse Change or
Effect.  No material adverse change
shall have occurred in the financial condition of the Guarantor and the
Consolidated Subsidiaries on a consolidated basis since December 31, 2005, and
no event, act, condition or occurrence shall exist or have occurred that has
had, or would reasonably be expected to have, a Material Adverse Effect.

(r)            Taxes, Filings, Recordings.  All filings or recordings reasonably
considered necessary by the Lessor or any Lease Participant have been completed
and all taxes and fees in connection therewith, and all Impositions with
respect to the Facility that are due and payable, shall have been paid by the
Company.

(s)           Wachovia Corporation Indemnity
Letter.  Wachovia Corporation shall
have executed and delivered to Lessee an indemnity letter dated the Restatement
Closing Date and in form and substance satisfactory to Wachovia Corporation and
Lessor, pursuant to which, among other things, Wachovia Corporation will
support the obligations of Lessor as Lessor under the Operative Documents.

(t)            Other.  Such other documents as the Lessor or any
Lease Participant or special counsel to the Lessor may reasonably request.

Section 6.02   [Intentionally
Omitted].

Section 6.03   Closing.  On the Restatement Closing Date (or in the
case of clause (b), as soon thereafter as the applicable closing conditions
shall have been satisfied), at such place as the parties hereto shall agree:

 19
 

(a)           this Agreement and each of the
Operative Documents shall be duly executed and delivered by the parties to such
documents; and

(b)           subject to the satisfaction of the
conditions precedent specified in Section 6.01 of this Agreement, the Original
Ground Lease shall be deemed amended and restated as set forth in the Ground
Lease, the Original Lease Agreement shall be deemed amended and restated as set
forth in the Lease, the Original Guaranty Agreement shall be deemed amended and
restated as set forth in the Guaranty, this Agreement shall become effective,
and the Lessor Investments shall be deemed recharacterized as the A Percentage
Lessor Investments and the B Percentage Lessor Investments, as applicable.

ARTICLE
VII.

REPRESENTATIONS
AND WARRANTIES

Section 7.01   Company
Representations and Warranties.  The
Company (and, by execution and delivery of the Guaranty, the Guarantor)
represents and warrants to each Person who now is or hereafter becomes a party
to this Agreement that:

(a)           Corporate Existence and Power.  The Company and the Guarantor are
corporations duly incorporated, validly existing and in good standing under the
laws of the State of Tennessee and Delaware, respectively.  The Company and the Guarantor are each duly
qualified to transact business in every jurisdiction where failure to be
qualified reasonably could be expected to have a Material Adverse Effect, and
has all corporate powers and all government authorizations, licenses, consents
and approvals required to engage in its business and operations as now
conducted.

(b)           Corporate and Governmental
Authorization; No Contravention.  The
execution, delivery and performance by the Company of this Agreement and by the
Guarantor of the Guaranty and the other Operative Documents to which each of
them is a party (i) are within its corporate powers, (ii) have been duly
authorized by all necessary corporate action, (iii) require no action by or in
respect of or filing with, any governmental body, agency or official, other
than filings contemplated by the Operative Documents, (iv) do not contravene,
or constitute a default under, any provision of applicable law or regulation or
of the certificate of incorporation or bylaws of the Company and the Guarantor,
or any judgment, injunction, order, or decree binding upon the Guarantor, the
Company or any other Subsidiary, (v) do not contravene, or constitute a default
under, any material agreement or other instrument binding upon the Guarantor,
the Company or any other Subsidiary, and (vi) do not result in the creation or
imposition of any Lien on any asset of the Guarantor, the Company or any other
Subsidiary or on the Facility, other than as contemplated by the Operative
Documents.

(c)           Binding Effect.  This Agreement and each of the other Operative
Documents to which the Company or the Guarantor is a party constitutes a valid
and binding agreement of the Company and/or the Guarantor, as applicable,
enforceable in accordance with their respective terms, provided that the
enforceability hereof and thereof is subject in each case to general principles
of equity and to bankruptcy, insolvency and similar laws affecting the
enforcement of creditor’s rights generally.

 20
 

(d)           Financial Information.

(i)            The consolidated balance sheet of
the  Guarantor and the Consolidated
Subsidiaries as of December 31, 2005, and the related consolidated statements
of income, stockholders’ equity and cash flows for the Fiscal Year then ended,
reported on by PricewaterhouseCoopers LLP, copies of which have been delivered
to the Funding Parties, fairly present in all material respects, in conformity
with GAAP, the consolidated financial position of the Guarantor and the
Consolidated Subsidiaries as of such date and the consolidated results of
operations and cash flows for such Fiscal Year.

(ii)           Since
December 31, 2005, there has been no event, act, condition or occurrence having
a Material Adverse Effect.

(e)           No Litigation.  Except as disclosed on Schedule 7.01(e),
there is no action, suit or proceeding pending, or to the actual knowledge of
the Company and the Guarantor, threatened in writing, against or affecting the
Guarantor, the Company or any other Subsidiary before any court or arbitrator
or any governmental body, agency or official which (i) would reasonably be
expected to have or cause a Material Adverse Effect or (ii) in any manner draws
into question the validity of or could reasonably be expected to impair the
ability of the Company or the Guarantor to perform its obligations under this
Agreement or any of the Operative Documents executed by the Company or the
Guarantor.

(f)            Compliance with ERISA.

(i)            Neither the Guarantor nor any member
of the Controlled Group has incurred any withdrawal liability with respect to
any Multiemployer Plan under Title IV of ERISA, and no such liability is
expected to be incurred.

(ii)           Neither
the Guarantor nor any member of the Controlled Group is or has during the
preceding 6 years been obligated to contribute to any Multiemployer Plan.

(g)           Compliance with Laws; Payment of
Taxes.  The Guarantor, the Company
and each other Subsidiary is in compliance with all applicable laws,
regulations and similar requirements of governmental authorities, except where
such compliance is being contested in good faith through appropriate
proceedings or where non-compliance would not have and could not reasonably be
expected to cause a Material Adverse Effect. 
There have been filed on behalf of the Guarantor, the Company and each
other Subsidiary, all Federal, state and material local income, excise, property
and other tax returns which are required to be filed by them, except where the
failure to file has not had, and would not reasonably be expected to have, a
Material Adverse Effect, and all taxes due pursuant to such returns or pursuant
to any assessment received by or on behalf of the Guarantor, the Company or any
other Material Subsidiary have been paid or are being contested in good faith
or, if unpaid and uncontested, would not have and could not reasonably be
expected to cause a Material Adverse Effect. 
The charges, accruals and reserves on the books of the Guarantor, the
Company and each other Material Subsidiary, in respect of taxes or other
governmental charges are, in the opinion of the Company, adequate.  United States income tax returns of the Guarantor,
the Company and each other Material Subsidiary which is a U.S. Person have been
examined and closed through the Fiscal Year ended 2002.

 21
 

(h)           Subsidiaries.  Each of the Subsidiaries other than the
Company is duly organized, validly existing and in good standing under the laws
of its jurisdiction of formation, is duly qualified to transact business in
every jurisdiction where, by the nature of its business, such qualification is
necessary, and has all corporate powers and all governmental licenses, authorizations,
consents and approvals required to carry on its business as now conducted,
except where failure to be qualified or to have such powers, licenses,
authorizations, consents or approvals would not have and could not reasonably
be expected to cause a Material Adverse Effect. 
As of the date hereof, the Guarantor has no Subsidiaries except for the
Company and those other Subsidiaries listed on Schedule 7.01(h), which
accurately sets forth each such other Subsidiary’s complete name and
jurisdiction of incorporation.

(i)            Investment Company Act.  Neither the Guarantor nor the Company is an “investment
company” within the meaning of the Investment Company Act of 1940, as amended.

(j)            [Intentionally Omitted].

(k)           Ownership of Property; Liens.  The Guarantor, the Company and each of the
other Consolidated Subsidiaries has title to or leasehold or other interests in
its material properties sufficient for the conduct of its business, and none of
such property is subject to any Lien except Permitted Liens.

(l)            No Default.  Neither the Guarantor, the Company nor any of
the other Subsidiaries is in default under or with respect to any agreement,
instrument or undertaking to which it is a party or by which it or any of its
property is bound which has had or could reasonably be expected to have a
Material Adverse Effect.  No Default or
Event of Default has occurred and is continuing.

(m)          Full Disclosure.  To the best of the Company’s knowledge, all
written information heretofore furnished by the Guarantor or the Company to the
Lessor or any Lease Participant for purposes of or in connection with this
Agreement, any of the Operative Documents, or any transaction contemplated
hereby or thereby is, and all such information hereafter furnished by the
Guarantor or the Company to the Lessor or any Lease Participant will be, true,
accurate and complete in every material respect or based on reasonable
estimates on the date as of which such information is stated or certified.  The Company has disclosed to the Funding
Parties in writing any and all facts which reasonably could be expected to have
or cause a Material Adverse Effect.

(n)           Environmental Matters.

(i)            Neither the Guarantor, the Company
nor any other Subsidiary is subject to any Environmental Liability which has
had or could reasonably be expected to have a Material Adverse Effect and
neither the Guarantor, the Company nor any other Subsidiary has been designated
as a potentially responsible party under CERCLA or under any state statute
similar to CERCLA.  None of the
Properties of the Company, the Guarantor or any other Material Subsidiary has
been identified on any current or proposed (i) National Priorities List under
40 C.F.R. § 300, (ii) CERCLIS list or (iii) any list arising from a state
statute similar to CERCLA.

 22
 

(ii)           No Hazardous Materials have been or
are being used, produced, manufactured, processed, treated, recycled,
generated, stored, disposed of, managed or otherwise handled at, or shipped or
transported to or from the Facility or from any of the Properties owned by the
Company, the Guarantor or any other Material Subsidiary or are otherwise
present at, on, in or under the Facility or any of the Properties owned by the
Guarantor, the Company or any other Material Subsidiary, or, to the best of the
actual knowledge of the Company and the Guarantor, at or from any adjacent site
or facility, except for (A) Hazardous Materials such as cleaning solvents,
pesticides and other materials used, produced, manufactured, processed,
treated, recycled, generated, stored, disposed of, managed, or otherwise
handled in minimal amounts in the ordinary course of business in compliance
with all applicable Environmental Requirements and (B) Hazardous Materials in
the form of diesel fuel for purposes of fueling generators used to power the
Facility, which fuel is stored in above-ground storage tanks in compliance with
all applicable Environmental Requirements.

(iii)          The
Guarantor, the Company and each of the other Material Subsidiaries has procured
all Environmental Authorizations necessary for the conduct of its business, and
is in compliance with all Environmental Requirements in connection with the
operation of their respective Properties and their respective businesses,
except where the failure to procure such authorizations or be in compliance has
not had and could not reasonably be expected to have a Material Adverse Effect.

(iv)          Except
to the extent specified on Schedule 7.01(n), (a) there are no Hazardous
Materials on the Facility, other than minimal amounts of cleaning solvents,
pesticides and other similar materials used, produced, manufactured, processed,
treated, recycled, generated, stored, disposed, managed, or otherwise handled
in the ordinary course of business or in management or maintenance of the
Facility, (b) no Hazardous Material has migrated from the Facility to, upon,
about or beneath other properties, (c) no Hazardous Material has migrated or
threatened to migrate from other properties to, upon, about or beneath the
Facility, and (d) all Hazardous Materials or solid wastes generated at the
Facility have at all times been transported, treated and disposed of in
compliance with Environmental Requirements.

(v)           Except to the extent specified on
Schedule 7.01(n), (a) there is not, nor has there been, constructed, placed,
deposited, stored, disposed of or located on the Facility any asbestos in any
form, (b) no underground improvements, including treatment or storage tanks,
pumps, or water wells, are or have been located on the Facility, (c) there are
no polychlorinated biphenyls (PCBs) or transformers, capacitors, ballasts,
machinery, fixtures or other equipment which contain PCBs constructed, placed,
deposited, stored, disposed of or located on the Facility, (d) the uses and
activities of, on or relating to the Facility have at all times complied in all
material respects with all Environmental Requirements, and the use which the
Guarantor and/or the Company, and their Affiliates, Subsidiaries and/or
Sublessees make of the Facility will not result in the disposal or other
Environmental Release of any Hazardous Material, (e) the Company or the
Guarantor has obtained for the Facility all permits necessary under applicable
Environmental Requirements, and (f) the Facility has not been, and is not now,
listed on CERCLIS, the

 23
 

Environmental
Protection Agency’s list of violating facilities established pursuant to the
Clean Water Act or the National Priorities List established pursuant to CERCLA.

(vi)          Except
to the extent specified on Schedule 7.01(n), 
(a) there exists no judgment, decree, order, writ or injunction
outstanding, or litigation, action, suit, claim (including citation or
directive) or proceeding pending or, to the knowledge of the Guarantor, the
Company or any of the other Material Subsidiaries, threatened, relating to the
ownership, use, maintenance or operation of the Facility by any person or
entity, or arising from any alleged violation of Environmental Requirements
with respect to the Facility, or any alleged liability for Environmental Damages
with respect to the Facility, (b) there are no existing facts or conditions
that could give rise to any such violation or liabilities, (c) there have been
no written or, to the knowledge of the Guarantor, the Company or any of the
other Material Subsidiaries, oral reports of environmental investigations,
audits, studies, tests, reviews or other analyses conducted by or which have
been presented to or are in the possession of the Guarantor, the Company, or
any of the other Material Subsidiaries, relating to the Facility, which have
not been delivered to the Lessor and (d) neither the Guarantor or the Company
nor, to the knowledge of the Guarantor and Company, any of the other Material
Subsidiaries, any other person or entity has received any notice or other
communication concerning any alleged violation of Environmental Requirements,
whether or not corrected to the satisfaction of the appropriate authority, or
any notice or other communication concerning alleged liability for
Environmental Damages in connection with the Facility.

(vii)         From
the date hereof, there shall be no actual or threatened Environmental Release
of a Hazardous Material on or from the Facility caused by the Guarantor, the
Company or any other Subsidiary.

(viii)        Except
to the extent specified on Schedule 7.01(n), the Company: (a) has obtained all
permits, licenses, and other authorizations which are required under
Environmental Requirements in association with the Facility; and (b) will be in
full compliance with all terms and conditions of such required permits,
licenses, and other authorizations associated with the Facility.

(ix)           No
permits or licenses are required to be obtained or maintained in connection
with the use, operation, or ownership of the Facility arising from any portion
of the Facility which constitute (i) “wetlands” under any Environmental
Requirement, or (ii) habitat for species which is deemed to be endangered under
any Environmental Requirement, nor are there any ongoing or continuing
obligations regarding any portion of the Facility which constitute
wetlands.  There are no species of plants
or animals located on any portion of the Facility which are classified as
threatened or endangered under any Environmental Requirement.  There have been no written or, to the
knowledge of the Guarantor and the Company or any of the other Subsidiaries,
oral wetlands delineations conducted by or which have been presented to or are
in the possession of the Guarantor, the Company or any of the other
Subsidiaries relating to the Facility which have not been delivered to the
Lessor.

 24
 

(o)           Capital Stock.  All Capital Stock, debentures, bonds, notes
and all other securities of the Guarantor and the Company presently issued and
outstanding are validly and properly issued in accordance with all applicable
laws in all material respects, including but not limited to, the “Blue Sky”
laws of all applicable states and the federal securities laws, except where
noncompliance has not had and would not reasonably be expected to have a
Material Adverse Effect.   The Guarantor owns
directly or indirectly at least a majority of the issued shares of capital
stock of each of the other Consolidated Subsidiaries (other than the Monet
Trust, a New York trust, in which the Guarantor owns no direct or indirect
equity interest but which is a Consolidated Subsidiary as a result of the
application of Financial Interpretation Number 46 issued by the Financial
Accounting Standards Board).

(p)           Use of Proceeds; Margin Stock.  This Agreement constitutes an amendment and
restatement of the Original Investment Agreement and, among other things, the
terms relating to the “Lessor Advances” made thereunder.  All of the proceeds of such “Lessor Advances”
were used to finance the Facility Cost with respect to the Facility, including
the enhancements and improvements made thereto and the design, renovation,
construction and installation thereof and were used only in the manner
permitted under the Original Lease Documents. 
The Company is not engaged principally, or as one of its important
activities, in the business of purchasing or carrying any Margin Stock, and no
part of the proceeds of any such “Lessor Advances” were used to purchase or
carry any Margin Stock or to extend credit to others for the purpose of
purchasing or carrying any Margin Stock, or be used for any purpose which
violates, or which is inconsistent with, the provisions of Regulations T, U or
X.

(q)           Insolvency.  After giving effect to the execution and
delivery of the Lease, neither the Company nor the Guarantor will be “insolvent”
within the meaning of such term as used in § 101 of Title 11 of the United
States Code, Section 2 of the Uniform Fraudulent Transfer Act, or any other
applicable state law pertaining to fraudulent transfers, as amended from time
to time, or be unable to pay its debts generally as such debts become due, or
have an unreasonably small capital to engage in any business or transaction,
whether current or contemplated.

(r)            Facility Plan.  In all material respects, the Facility was
constructed prior to the Restatement Closing Date in compliance with, and in
accordance with, the Facility Plan. 
There are no agreements, instruments, licenses or other rights necessary
to own, operate, lease or use the Facility, other than the Applicable Permits,
the documents and instruments comprising the Facility Plan, and the Operative
Documents; and renovation, construction, ownership, operation, leasing or use
of the Facility by the Company (and after the expiration or termination of the
Lease, the renovation, construction, ownership, operation, leasing or use of
the Facility by the Lessor or its successors or assigns) does not and will not
infringe on, or otherwise violate, any patents, patent applications, trademarks
(whether registered or not), trademark applications, trade names, proprietary
computer software, or copyrights of any Person.

(s)           Boundaries; Encroachment; Etc.  The Facility is situated wholly within the
boundary lines of the Site and does not encroach upon any contiguous or
adjoining Property (other than those portions of the Facility for which the
Lessor has the right to locate and operate such portions pursuant to use or
operating agreements); and the Facility does not violate any other easements,
rights-of-way, licenses or other agreements affecting the Site.

 25
 

(t)            Anti-Terrorism Laws.

(i)            General.  None of the Guarantor, the Company, or their
Affiliates is in violation of any Anti-Terrorism Law or engages in or conspires
to engage in any transaction that evades or avoids, or has the purpose of
evading or avoiding, or attempts to violate, any Anti-Terrorism Law.

(ii)           Executive
Order No. 13224.  None of the Guarantor,
the Company, or the their Affiliates is any of the following (each a “Blocked
Person”):

(A)                              a
Person owned or controlled by, or acting for or on behalf of, any Person that
is listed in the annex to, or is otherwise subject to the provisions of,
Executive Order No. 13224;

(B)                                a
Person or entity with which any bank or other financial institution is
prohibited from dealing or otherwise engaging in any transaction by any
Anti-Terrorism Law;

(C)                                a
Person or entity that commits, threatens or conspires to commit or supports “terrorism”
as defined in Executive Order No. 13224;

(D)                               a
Person or entity that is named as a “specially designated national” on the most
current list published by the U.S. Treasury Department Office of Foreign Asset
Control at its official website or any replacement website or other replacement
official publication of such list; or

(E)                                 a
Person or entity who is affiliated with a Person or entity listed above.

(iii)          None
of the Guarantor, the Lessee, or their Affiliates (i) conducts any business or
engages in making or receiving any contribution of funds, goods or services to
or for the benefit of any Blocked Person or (ii) deals in, or otherwise engages
in any transaction relating to, any property or interests in property blocked
pursuant to Executive Order No. 13224.

ARTICLE
VIII.

COVENANTS

The Company (and, by
execution and delivery of the Guaranty, the Guarantor) covenants and agrees
with the Lessor and each Lease Participant to comply with the following
covenants until either (i) the Facility has been purchased by the Company (or
one of its Affiliates) for the Purchase Price or (ii) the Lease has been
terminated, the Facility has been returned to the Lessor and the Termination
Value or the Final Rent Payment, as the case may be, and all other amounts
payable under the Lease and the other Operative Documents upon such occurrence
have been paid in full:

Section 8.01   Information.  The Guarantor will deliver to the Lessor and
each of the Lease Participants:

 26
 

(a)           as soon as available and in any event
within 95 days after the end of each Fiscal Year, a copy of the unaudited
Annual Statement of the Company, and a consolidated balance sheet of the
Guarantor and the Consolidated Subsidiaries as of the end of such Fiscal Year
and the related consolidated statements of income, shareholders’ equity and
cash flows for such Fiscal Year, setting forth in each case in comparative form
the figures for the previous fiscal year, all certified by
PricewaterhouseCoopers LLP or other independent public accountants of
nationally recognized standing, with such certification to be free of
exceptions and qualifications not reasonably acceptable to the Majority Funding
Parties;

(b)           as soon as available and in any event
within 50 days after the end of each of the first 3 Fiscal Quarters of each
Fiscal Year, a consolidated balance sheet of the Guarantor and the Consolidated
Subsidiaries as of the end of such Fiscal Quarter and the related statement of
income and statement of cash flows for such Fiscal Quarter and for the part of
the Fiscal Year ended at the end of such Fiscal Quarter, setting forth in each
case in comparative form the figures for the corresponding Fiscal Quarter and
the corresponding portion of the previous Fiscal Year, all certified (subject
to normal year-end adjustments) as to fairness of presentation, GAAP and
consistency by the chief financial officer or the chief accounting officer of
the Guarantor;

(c)           simultaneously with the delivery of
each set of financial statements referred to in paragraphs (i) and (ii) above,
a certificate, substantially in the form of Exhibit E (a “Compliance
Certificate”), of the chief financial officer or the chief accounting
officer of the Guarantor (x) setting forth in reasonable detail the
calculations required to establish whether the Guarantor was in compliance with
the requirements of Section 8.04, Section 8.19 and Sections 8.24 through 8.27,
inclusive, on the date of such financial statements, (y) stating whether any
Default exists on the date of such certificate and, if any Default then exists,
setting forth the details thereof and the action which the Guarantor is taking
or proposes to take with respect thereto and (z) certifying that the Debt
Rating as of the most recent Performance Pricing Determination Date has not
changed from the prior Performance Pricing Determination Date, or if it has
changed, setting forth such changed Debt Rating, and the change in the
Applicable Margin in effect as a result thereof;

(d)           simultaneously with the delivery of
each set of annual financial statements referred to in paragraph (i) above, a
statement of the firm of independent public accountants which reported on such
statements to the effect that nothing has come to their attention to cause them
to believe that any Default existed on the date of such financial statements;

(e)           promptly upon the mailing thereof to
the shareholders of the Guarantor generally, copies of all financial
statements, reports and proxy statements so mailed;

(f)            promptly upon the filing thereof,
copies of all Forms 10Q, 10K and 8K (other than earnings press releases) which
the Guarantor shall have filed with the Securities and Exchange Commission;

(g)           if and when any member of the
Controlled Group (x) gives or is required to give notice to the PBGC of any “reportable
event” (as defined in Section 4043 of ERISA) with respect to any Plan which
might constitute grounds for a termination of such Plan under Title IV of
ERISA, or knows that the plan administrator of any Plan has given or is
required to give

 27
 

notice of any such reportable event, a copy of the
notice of such reportable event given or required to be given to the PBGC; (y)
receives notice of complete or partial withdrawal liability under Title IV of
ERISA, a copy of such notice; or (z) receives notice from the PBGC under Title
IV of ERISA of an intent to terminate or appoint a trustee to administer any
Plan, a copy of such notice;

(h)           promptly, and, in any event, within 5
Business Days after the Company or the Guarantor becomes aware of any Default
or Event of Default, a certificate of the chief financial officer or the chief
accounting officer of the Company or the Guarantor setting forth the details
thereof and the action which the Company or the Guarantor is taking or proposes
to take with respect thereto;

(i)            promptly upon becoming aware of the
occurrence of either a Loss Event or a Casualty Occurrence, or any other event
or condition requiring notice under either Section 7 or Section 8 of the Lease,
the Company shall give the Lessor written notice thereof, which notice shall
specify the damage or loss to the Facility in reasonable detail;

(j)            promptly and in any event within 10
days after learning thereof, notification of any change after the Restatement
Closing Date of any Debt Rating or any rating given by S&P or Moody’s with
respect to Guarantor or any Subsidiary or A.M. Best & Co. with respect to
any Insurance Subsidiary; and

(k)           from time to time such additional
information regarding the financial position or business of the Company, the
Guarantor and the Subsidiaries as the Lessor, at the request of any Funding
Party, may reasonably request.

Section 8.02   Maintenance
and Inspection of Property, Books and Records.  The Guarantor will cause the Company, and the
Company agrees, to keep proper books of record and account regarding the Lease
in accordance with GAAP or SAP, as applicable, which books shall include copies
of all Related Contracts and any amendments thereto and the book value of the
Facility and of each material item of Property comprising or included in the
Facility, and shall provide copies of the foregoing to the Funding Parties from
time to time on request at the Company’s expense.  The Guarantor will cause the Company, and the
Company agrees, to (i) keep proper books of record and account in which full,
true and correct entries in conformity with GAAP and SAP, shall be made of all
dealings and transactions in relation to its business and activities; and (ii)
permit representatives of any Funding Party (x) at such Funding Party’s expense
and upon reasonable notice prior to the occurrence of a Default and (y) at the
Guarantor’s and the Company’s expense after the occurrence of a Default, to
visit and inspect the Facility and any of its properties, to examine and make
abstracts from any of its books and records and to discuss its affairs,
finances and accounts with its officers and independent public
accountants.  The Guarantor and the
Company agree to cooperate and assist in such visits and inspections, in each
case at such reasonable times and as often as may reasonably be desired.

Section 8.03   Related
Contracts.  The Company, either in
its capacity as Lessee under the Lease or as agent for the Lessor, will comply
with, maintain execution counterparts of, and promptly upon request by the
Lessor from time to time deliver copies of, or after the occurrence of an Event
of Default, originals of, all Related Contracts.

 28
 

Section 8.04   Consolidations,
Mergers and Sales of Assets.  The
Guarantor and the Company will not, nor will the Guarantor or the Company
permit any other Subsidiary to, consolidate or merge with or into, or sell,
lease or otherwise transfer all or any substantial part of its assets to, any other
Person, provided that (a) the Guarantor, or the Company or a Subsidiary
may merge with another Person if (i) such Person was organized under the laws
of the United States of America or one of its states, (ii) the Company, the
Guarantor or a Subsidiary is the corporation surviving such merger (provided
that in any merger of the Guarantor or the Company and a Subsidiary, the
Guarantor or the Company shall be the corporation surviving such merger) and
(iii) immediately after giving effect to such merger, no Default shall have
occurred and be continuing, (b) Subsidiaries (other than the Company) may merge
with one another or into the Company or the Guarantor, (c) the foregoing
limitation on the sale, lease or other transfer of assets shall not prohibit sales
of investment assets in the ordinary course of business, and (d) the foregoing
limitation on merger and consolidation and the sale, lease or other transfer of
assets shall not prohibit, during any Fiscal Quarter, a merger, consolidation
or transfer of assets (in a single transaction or in a series of related
transactions) unless the aggregate assets that are the subject of such merger
or consolidation or to be so transferred, when combined with all other assets
transferred (including as the result of a merger or consolidation) during such
Fiscal Quarter and the immediately preceding 3 Fiscal Quarters, constituted
more than 15% of Consolidated Total Assets at the end of the most recent Fiscal
Year.

Section 8.05   Maintenance
of Existence.  The Guarantor and the
Company shall, and the Guarantor and the Company shall cause each other
Material Subsidiary to, maintain its existence and carry on the major part of
its business in substantially the same manner as such business is now carried
on and maintained, except as permitted by Section 8.04.

Section 8.06   Dissolution.  The Guarantor and the Company shall not, and
the Guarantor and the Company shall cause each other Material Subsidiary to
not, suffer or permit dissolution or liquidation either in whole or in part or
redeem or retire any shares of its own stock, except through corporate
reorganization to the extent permitted by Section 8.04.

Section 8.07   [Intentionally
Omitted].

Section 8.08   Compliance
with Laws; Payment of Taxes.  The
Guarantor and the Company shall, and the Company shall cause each other
Subsidiary to, comply with applicable laws (including but not limited to
ERISA), regulations and similar requirements of governmental authorities
(including but not limited to PBGC), except where the necessity of such
compliance is being contested in good faith through appropriate proceedings or
where non-compliance would not have and could not reasonably be expected to
cause a Material Adverse Effect.  The
Guarantor and the Company shall, and the Guarantor and the Company shall cause
each other Material Subsidiary to, pay, prior to the date on which penalties
attach thereto, all taxes, assessments, governmental charges, claims for labor,
supplies, rent and other obligations which, if unpaid, might become a Lien
against the Facility or against Property of the Guarantor, the Company or any
other Material Subsidiary, except for liabilities being contested in good faith
and against which, if requested by the Lessor,
the Guarantor, the Company or such other Subsidiary will set up
reserves in accordance with GAAP and except for Permitted Liens.

 29
 

Section 8.09   Insurance.  The Guarantor and the Company shall, and the
Guarantor and the Company shall cause each other Material Subsidiary to,
maintain (either in the name of the Lessor, the Guarantor or the Company, as
applicable), with financially sound and reputable insurance companies,
insurance on such of its property in at least such amounts, and with such
deductibles,  and against at least such
risks as are usually insured against in the same general area by companies of
established repute engaged in the same or similar businesses.  Without limitation of the foregoing, the
Company shall maintain or cause to be maintained, with Permitted Insurers,
insurance with respect to the Facility and its business in connection therewith
of the types and in the amounts specified in the Lease.  The Company will deliver or cause to be
delivered to the Lessor promptly upon request of the Lessor, and in any event
on or prior to January 1st of each calendar year, commencing with January 1,
2007, a certificate by a firm of independent insurance brokers or consultants
chosen by the Company and acceptable to the Lessor setting forth the insurance
or self-insurance obtained pursuant to the Lease, including, without
limitation, the amounts thereof, the names of the insurers and the property,
hazards and risks covered thereby, and certifying that the same comply with the
requirements of the Lease, that all premiums then due and payable thereon have
been paid and that the same are in full force and effect, that the Lessor has
been named as additional insured and loss payee, as its interests may appear,
under each such policy, and is not liable for payment of premiums thereunder,
that such policies may not be cancelled without at least 30 days prior notice
to the Lessor with an opportunity to cure any default thereunder.  The Lessor shall be entitled to rely on such
reports without further investigation of the facts and circumstances set forth
therein.

Section 8.10   Maintenance
of Property.  The Company shall
maintain and preserve the Facility in accordance with the requirements of the
Lease.  The Guarantor and the Company
shall maintain and preserve all of their other properties and assets, in good
condition, repair and working order, ordinary wear and tear excepted, except to
the extent of any failure which would not have and could not reasonably be
expected to cause a Material Adverse Effect.

Section 8.11   Environmental
Notices.  The Company shall furnish
to the Lessor prompt written notice of all Environmental Liabilities, pending
or threatened Environmental Proceedings, Environmental Notices, Environmental
Judgments and Orders, and Environmental Releases at, on, in, under or in any
way affecting the Facility or any of the Properties of the Guarantor, the
Company or any other Material Subsidiary, or any adjacent property, except, as
to such Properties other than the Facility, as to matters which would not have
and could not reasonably be expected to cause a Material Adverse Effect, and
all facts, events, or conditions actually known to the Company that could
reasonably be expected to lead to any of the foregoing.

Section 8.12   Environmental
Matters.  The Guarantor and the
Company shall not, and the Guarantor and the Company shall cause each other
Material Subsidiary to not, and shall not permit any Third Party to, use,
produce, manufacture, process, treat, recycle, generate, store, dispose of,
manage at, or otherwise handle, or ship or transport to or from the Facility or
the Properties of the Guarantor, the Company or any Material Subsidiary any
Hazardous Materials except for (a) Hazardous Materials such as cleaning
solvents, pesticides and other similar materials used, produced, manufactured,
processed, treated, recycled, generated, stored, disposed of, managed, or
otherwise handled in minimal amounts in the ordinary course of business or of
management or maintenance of the Facility or such Properties in material
compliance with all

 30
 

applicable Environmental Requirements, except in each
case, as to such Properties other than the Facility, as to matters which would
not have and could not reasonably be expected to cause a Material Adverse
Effect, and (b) Hazardous Materials in the form of diesel fuel for purposes of
fueling generators to power the Facility, which fuel is stored in above-ground
storage tanks in compliance with all applicable Environmental Requirements.

Section 8.13   Environmental
Release.  The Company agrees that
upon the occurrence of an Environmental Release at or on the Facility or any of
the Properties of the Guarantor, the Company or any Material Subsidiary it will
act immediately to investigate the extent of, and to take appropriate remedial
action to eliminate, such Environmental Release, whether or not ordered or
otherwise directed to do so by any Environmental Authority, except, as to such
Properties other than the Facility, as to matters which would not have and
could not reasonably be expected to cause a Material Adverse Effect.

Section 8.14   Transactions
with Affiliates.  Neither the
Guarantor, nor the Company, nor any of the other Material Subsidiaries shall
enter into, or be a party to, any transaction with any Affiliate of the
Guarantor, the Company or such other Material Subsidiary (which Affiliate is
not the Guarantor or the Company or a Wholly Owned Subsidiary), except (a) as
permitted by law and in the ordinary course of business and pursuant to
reasonable terms which are no less favorable to Guarantor, the Company or such
other Material Subsidiary than would be obtained in a comparable arm’s length
transaction with a Person which is not an Affiliate and (b) any such
transaction that could not reasonably be expected to have a Material Adverse
Effect.

Section 8.15   Further
Assurances.  The Guarantor and the
Company will cure promptly any defects in the due execution and delivery by it
of the Operative Documents, including this Agreement.  The Guarantor and the Company at their
expense will promptly execute and deliver to the Lessor upon request all such
other and further documents, agreements and instruments in compliance with or
accomplishment of the covenants and agreements of the Guarantor and the Company
in the Operative Documents, including this Agreement, or to further evidence
and more fully describe the collateral relating to the Facility intended as
security for the Lessor Investments and the Lease Participant Investments, or
to correct any item that the Company and the Lessor agree constitutes an
omission or error in the Operative Documents, or more fully to state the
existing security obligations set out herein or in any of the Operative
Documents, or to perfect, protect or preserve any Liens created pursuant to any
of the Operative Documents, or to make any recordings, to file any notices, or
obtain any consents required by the terms of the Operative Documents, all as
may be necessary or appropriate in connection therewith.

Section 8.16   Compliance
with Certain Documents, Permits, Etc. 
The Company will perform and observe its obligations under the
agreements and instruments comprising the Facility Plan and all Applicable
Permits.  The Company, at its expense and
as Lessee under the Lease or as agent for the Lessor, will obtain, preserve,
protect and maintain in effect all Applicable Permits.

Section 8.17   Maintenance;
Etc.  The Company shall, at its
expense and as Lessee under the Lease or as agent for the Lessor, preserve,
protect and maintain in accordance with prudent industry practices their rights
in and to the Applicable Permits used in the ordinary course of business of the
Facility that are necessary for and material to the operation of the Facility;
and

 31

the Company shall defend and hold harmless the Lessor
and each Lease Participant from and against any cost, liability or expense
arising from any claim of infringement, misuse or misappropriation of any of
the foregoing.

Section 8.18   [Intentionally
Omitted].

Section 8.19   Liens,
Etc.  The Guarantor and the Company
shall not, and the Guarantor and the Company shall cause each other Material
Subsidiary to not, create, assume or suffer to exist, any Liens upon any
Property now owned or hereafter acquired by it or upon the Facility, except
Permitted Liens.

Section 8.20   Facility
Plan.  The Company shall not under
any circumstance undertake to operate or use the Facility except in accordance
in all material respects with the Facility Plan and except for the Permitted
Use.

Section 8.21   Change
in Fiscal Year.  The Guarantor and
the Company shall not, and the Guarantor and the Company shall cause each other
Consolidated Subsidiary to not, change its Fiscal Year without the consent of
the Lessor (acting at the direction of the Majority Funding Parties).

Section 8.22   Intentionally
Omitted.

Section 8.23   Restrictions
on Ability of Subsidiaries to Pay Dividends.  Except in accordance with any applicable
regulatory requirements, the Company shall not, and the Guarantor and the
Company shall not permit any Material Subsidiary to, directly or indirectly,
create or otherwise cause or suffer to exist or become effective any
encumbrance or restriction not in existence on the Restatement Closing Date on
the ability of the Company or any such other Subsidiary to (i) pay any
dividends or make any other distributions on its Capital Stock or any other
interest or (ii) make or repay any loans or advances to the Guarantor, the
Company or the other direct parent of such Subsidiary.

Section 8.24   Adjusted
Consolidated Net Worth.  The
Guarantor will maintain at all times Adjusted Consolidated Net Worth equal to
not less than the sum of (i) $1,400,000,000 plus (ii) 25% of the Guarantor’s
cumulative Consolidated Net Income, if positive, earned after December 31,
2003, through the last day of the most recent fiscal quarter or year, as
applicable, for which statements were delivered or required to have been
delivered to the Lessor pursuant to Section 8.01(a) or (b), taken as one accounting
period, minus (iii) the Guarantor’s consolidated allowance for potential future
losses on investments at the end of such fiscal quarter.

Section 8.25   Ratio
of Adjusted Consolidated Indebtedness to Consolidated Capitalization.  The Guarantor will maintain at all times a
ratio of Adjusted Consolidated Indebtedness to Consolidated Capitalization of
not more than 0.4 to 1.00.

Section 8.26   Ratio
of Unconsolidated Cash Inflow Available for Interest Expense to Adjusted
Consolidated Interest Expense.  The Guarantor
will maintain, for each fiscal quarter, a ratio of Unconsolidated Cash Inflow
Available for Interest Expense to Adjusted Consolidated Interest Expense, in
each case calculated for such fiscal quarter, of not less than 2.00 to 1.00.

 32
 

Section 8.27   Company’s
Total Adjusted Capital.  The Company
will maintain at all times Total Adjusted Capital in an amount not less than
4.0 times the Company’s Authorized Control Level Risk-Based Capital.  As used herein the terms “Total Adjusted
Capital” and “Authorized Control Level Risk-Based Capital” have the
meanings attributed thereto in the Risk-Based Capital (RBC) for Life and/or
Health Insurers Model Act adopted by the NAIC in December 2000, as the same may
be modified, supplemented or amended from time to time.

Section 8.28   Restricted
Payments.   The Guarantor will not
declare or make any Restricted Payment during any Fiscal Year unless it has
first provided for payment of all current principal payments on long-term
Indebtedness; provided, that after giving effect to the payment of any
such Restricted Payments, no Default shall be in existence or be created
thereby.

Section 8.29   Anti-Terrorism
Laws.  Neither the Guarantor nor the
Company shall, nor shall they permit any of their respective Subsidiaries to,
(i) conduct any business or engage in any transaction or dealing with any
Blocked Person, including the making or receiving any contribution of funds,
goods or services to or for the benefit of any Blocked Person; (ii) deal in, or
otherwise engage in any transaction relating to, any property or interests in
property blocked pursuant to Executive Order No. 13224; or (iii) engage in on
conspire to engage in any transaction that evades or avoids, or has the purpose
of evading or avoiding, or attempts to violate, any of the prohibitions set
forth in Executive Order No. 13224, the USA Patriot Act, or any other
Anti-Terrorism Law.  Each of the
Guarantor and the Company shall deliver to the Lessor, the Administrative
Agent, and Lease Participants any certification or other evidence requested
from time to time in the Agent’s sole discretion confirming such Person’s
compliance with this Section.

Section 8.30   Company
as Agent of Lessor With Respect to the Facility.

(a)           Termination of
Original Agency Agreement; Continuing Services.  The parties hereto acknowledge and agree
that, pursuant to the Original Lease Agreement, the Company, as the Lessor’s
agent thereunder, undertook certain responsibilities and obligations with
respect to the design, acquisition, construction, fit up, maintenance, and
operation of the Facility.  Given that
the initial construction of the Facility has been completed, all parties
hereto, and the Company and the Lessor in particular, hereby agree that the
Original Agency Agreement is terminated (other than with respect to the terms
thereof which, by their terms, survive such termination); provided, however,
that the Company agrees that it shall continue to provide certain services as
provided below and elsewhere in the other Operative Documents on the terms set
forth below.

(b)           Certain Services.  From the date on which the Lease terminates
as provided therein, including any Lease Termination Date or Cancellation Date,
through the date provided in Section 8.30(n), the Company hereby agrees to provide
and perform, or cause to be provided or performed, all services, labor,
supervision, management, maintenance, repairs, common facilities and
consumables necessary for the operation of the Facility for the Permitted Use,
in accordance with all Governmental Requirements and Insurance Requirements and
within the capability set forth in the Facility Plan, including, without
limitation:

 33
 

(i)            To cause all contracts
and other agreements, including without limitation all Related Contracts,
entered into by the Company on behalf of the Lessor to be assignable,
including, without limitation, the right to be subject to the Security
Instruments;

(ii)           To avoid purchasing
Property from or entering into any agreement with its Affiliates in connection
with the Facility unless upon fair and reasonable terms that are not less
favorable to the Lessor than those which might be obtained in an arm’s-length
transaction between unaffiliated Persons in the same business at the time such
terms are agreed upon;

(iii)          In the event the Company does not
exercise its option to purchase the Facility pursuant to Section 15 of the
Lease, to attempt to sell the Facility for cash upon the termination or
cancellation of the Lease (subject to the Lessor’s prior written approval of
the terms of the sale), and to grant, bargain, sell, convey or contract for the
sale or conveyance of the Facility in the name of the Lessor in connection with
the duties in this paragraph;

(iv)          To contract with all Vendors and
contractors for supplies, equipment, materials and services, including, without
limitation, necessary maintenance work affecting the Facility;

(v)           To keep and maintain
proper books and records relating to the accounts of the Facility and the book
value of the Facility and the Property comprising the Facility;

(vi)          To pay for, exchange or otherwise
settle accounts for the acquisition of supplies, equipment, materials or
services affecting the Facility;

(vii)         To ask for, demand, collect, recover,
and receive, each in the name of the Lessor, all moneys which may become due
and owing by reason of conveyances, whether by deed, contract, bill of sale or
other instruments or to pay for, exchange or otherwise settle accounts for the
acquisition of supplies, equipment, materials or services affecting the
Facility; provided however, the Company shall have the right in its reasonable
discretion to settle or waive claims in amounts less than $50,000.00;

(viii)        To ask for, demand, collect, and
recover, each in the name of Lessor, any and all sums that may be due on
account of any damage to any of the Facility;

(ix)           To manage correspondence and conduct
communications with all Governmental Authorities with regard to matters
affecting the Facility, including, but not limited to, the acquisition of all
Permits and satisfaction of all Governmental Requirements and Insurance
Requirements and with regard to rights of way and easements, if any, affecting
the Facility;

(x)            To provide the Lessor
with copies of material Related Contracts executed by the Company as Lessor’s
agent or on behalf of the Lessor promptly following such execution; and

 34
 

(xi)           To provide such additional services
as may be reasonably requested by the Lessor for the full and efficient
operation of the Facility

(c)           Easements, Utilities,
Services and Contracts.  Within 120
days prior to the Scheduled Lease Termination Date (or immediately if the Lease
terminates on any Cancellation Date or Lease Termination Date which is not a
Scheduled Lease Termination Date), and provided that the Company shall not have
elected to purchase, or purchased, the Facility pursuant to the terms of the
Lease, at all times thereafter for the term of this Agreement, the Company, at
no cost to the Lessor, shall provide, either directly or indirectly, to the
Lessor, in compliance with all Governmental Requirements (including, without
limitation, all Environmental Requirements, Environmental Authorizations and
Environment Judgments and Orders and Insurance Requirements), as confirmed by
the Lessor, (i) all rights of ingress and egress, rights-of-way, easements
(which easements shall be reasonably direct and shall provide for access over
any servient estate created thereby, including the rights to use existing
transmission lines), access and real property licenses and rights in real
property over or to the Site, (ii) access to storage, transportation and
maintenance facilities, fixtures and appurtenances, (iii) an inventory of
supplies necessary for the full and efficient operation of the Facility, and
(iv) services (whether on- or off-Site, including any shared off-site
facilities), including, without limitation, water, electricity, heating,
ventilation, air conditioning, lighting, security, steam, waste water treatment
and sanitation, receiving and shipping facilities as such rights, licenses,
easements, services and utilities are or may be necessary for the full and
efficient operation of the Facility.

(d)           Equipment and Other
Rights.  Within 120 days prior to the
Scheduled Lease Termination Date (or immediately if the Lease terminates on any
Cancellation Date or Lease Termination Date which is not a Scheduled Lease
Termination Date), and provided that the Company shall not have elected to
purchase, or purchased, the Facility pursuant to the Lease, at all times
thereafter for the term of this Agreement, the Company shall provide to the
Lessor, by rent-free lease or other similar arrangement, any and all equipment
and maintenance tools, and, for a price equal to the Company’s cost therefor if
not included in the Facility Cost, all spare parts (including, without
limitation, rebuilt parts and major components) and maintenance equipment not
covered by the services provided, or caused to be provided, pursuant to the
Operative Documents, as are or may be customarily maintained on the Site by the
Company for the operation of the Facility in the manner described herein.  Within the period set forth above (or
immediately in the circumstance contemplated above) the Company, in compliance
with all Governmental Requirements, shall also transfer, or cause to be
transferred, to the Lessor any and all equipment inspection reports and
maintenance records and all licenses and Applicable Permits required to operate
the Facility and all such equipment located on the Site as confirmed by the
Lessor.  Within the period set forth
above (or immediately in the circumstance contemplated above), the Company
shall provide, or cause to be provided, to the Lessor, by non-exclusive,
royalty free license or other similar arrangement, rights to all patents,
patent applications, proprietary computer software, operating and other
manuals, “know-how,” copyrights or other intellectual property (excluding trade
names and trademarks) as are or may be necessary for the operation of the
Facility in the manner described herein.  The Company represents and warrants to the
Lessor that as of the Restatement Closing Date, and at all times thereafter
during the term of this Agreement, the construction, assembly, ownership, use,
occupancy, maintenance and operation of the Facility and Property included
therein does not and will not cause a violation of any Governmental
Requirements or Insurance Requirements.

 35
 

(e)           Cost of Services and
Rights.

(i)            Any and all services
described in Section 8.30(c) and all easements and other rights in real
property existing or necessary for the full and efficient operation of the
Facility during the term of this Agreement shall be provided (A) to the Lessor
as specified in Section 8.30(b), and (B) in the case of such easements and
other rights in real property as aforesaid, on the terms set forth in Section
8.30(e)(ii) to any Person acquiring title or use of the Facility other than the
Lessor.

(ii)           Unless otherwise
provided herein, any and all services and supplies provided by the Company
pursuant to this Section 8.30 after the Lease Termination Date (or any earlier
date on which the Lease terminates as provided therein) and for so long as this
Agreement remains in effect (i) which are generally commercially available
shall be priced at fair market value, and on arms-length terms and conditions
subject to applicable provisions of agreements with producers, shippers and
suppliers and Governmental Requirements, or (ii) which are not generally
commercially available shall be priced at an amount equal to the Company’s cost
(excluding any profit margin).

(f)            Reversion of Rights
and Contracts.  Upon payment of the
Purchase Price as provided in Section 15 of the Lease: (a) the various
agreements, licenses, Applicable Permits and contracts, including without
limitation Related Contracts, to be provided hereunder by Company to the Lessor
shall revert to the Company (or be transferred to the Company), (b) service
contracts with the Company, property rights and licenses granted by the Company
to the Lessor shall terminate or be transferred to the Company, and (c)
third-party service contracts shall be assigned by the Lessor to the Company,
all the foregoing transfers and assignments to be made without recourse and
without any representation or warranty whatsoever, other than the absence of “Lessor
Liens”, as defined in Section 16(a)(i) of the Lease.  Upon the termination of the Lease and the
failure of the Company, the Guarantor or one of their Affiliates to purchase
the Facility as provided in Section 15 of the Lease, all such agreements,
Applicable Permits, contracts, property rights and licenses and Third Party
service contracts, including without limitation Related Contracts, shall remain
in place unless terminated by the Lessor.

(g)           Additional Support.  In the event that none of the Company, the
Guarantor or any of  their Affiliates
purchases the Facility from the Lessor pursuant to the Lease, the parties
hereto agree to negotiate in good faith to provide to the Lessor such support
in addition to that provided for in this Agreement as the Lessor reasonably may
deem necessary to maintain, use, occupy and operate the Facility for the
Permitted Use or any other purpose requested by the Lessor.

(h)           Personnel.  The Company shall at all times employ, or
cause to be employed, qualified and properly trained personnel to perform the
Company’s obligations under this Section 8.30, and shall pay all wages and
benefits required by law or contract. 
The Company shall be responsible for all matters relating to labor
relations, working conditions, training, employee benefits, safety programs and
related matters pertaining to such employees. 
The Lessor shall have the right to request the removal from the Facility
of any personnel reasonably deemed unqualified by the Lessor.

 36
 

(i)            Warranties and
Guarantees.  The Company shall use
its best reasonable efforts consistent with good industry practices to obtain
warranties for the Lessor for parts, equipment, materials or services provided
by third-party suppliers in fulfilling the Company’s obligations under this
Agreement.  The Company shall comply with
all applicable warranties and guarantees presented by Vendors or contractors,
and shall take no action that in any way impairs any rights or claims of the
Lessor under this Agreement or any Vendor’s or other Person’s warranty.  Without limiting the foregoing, the Company
shall use spare parts that will not adversely affect the Lessor’s protection or
rights under such warranties or guarantees.

(j)            Removal.  The Lessor may at any time, upon 5 days
written notice, terminate its engagement of the Company under this Section 8.30
to maintain and operate the Facility, without terminating this Agreement;
provided, however, that the Lessor shall, upon 2 week’s written notice to the
Company, be entitled to request the Company to resume its duties under this
Section 8.30 for the duration of the term of this Agreement to maintain and
operate the Facility and the Company shall comply with such request.

(k)           Independent
Contractor Status.  The Lessor
acknowledges that the Company, in performing its duties under this Section 8.30
to maintain and operate the Facility, is acting as an independent contractor
and except as otherwise expressly provided by this Agreement, none of the
Lessor, the Administrative Agent, nor the Lease Participants shall have the
right to control the conduct of the Company or its personnel in the proper
performance of the obligations of the Company under this Section 8.30.  The Company acknowledges that the Lessor is
the owner of the Facility and, as such, is entitled to control the Facility and
its use, subject to the provisions of this Agreement, the Lease, and the other
Operative Documents.

(l)            Support Expenses.  All reasonable and necessary costs associated
with the continued normal operation, preservation and maintenance of the
Facility in the manner provided herein during the period commencing on the date
on which the Lease terminates as provided therein, including any Lease
Termination Date or Cancellation Date, through the date provided in
Section 8.30(n) (“Support Expenses”) shall be timely advanced by the
Company on behalf of Lessor subject to reimbursement as hereafter set
forth.  All such Support Expenses
advanced by the Company shall be accounted for by the Company and reported to
Lessor pursuant to monthly written operating reports certified by an authorized
officer of the Company.  The Lessor shall
reimburse the Company for support expenses actually advanced by the Company
together with simple interest thereon at the Base Rate per annum, on the
earlier to occur of the date following (i) the termination of this Agreement in
accordance with Section 8.30(n), or (ii) the date the Facility is sold by or on
behalf of the Lessor (and if this Agreement is terminated by the Lessor prior
to the sale of the Facility by the Company on behalf of the Lessor, the Lessor
shall use reasonable commercial efforts to sell the Facility as soon as is
reasonably practical, taking into account the then existing real estate market
and the ability to realize sufficient proceeds to pay in full all  of the Lessor Investment, Yield thereon and
other amount due and payable under the Lease and the other Operative
Documents).  Reimbursement under
subsection (i) of this Section 8.30(l) shall be reimbursed by the Lessor solely
out of available excess proceeds from the sale of the Facility under Section 15
of the Lease and reimbursement under subsection (ii) of this Section 8.30(l)
shall be reimbursed by the Lessor solely out of available excess proceeds from
the sale of the Facility by the Lessor as contemplated therein.  In no event shall the Lessor be obligated to
reimburse the Company for Support Expenses except to the extent of available

 37
 

excess proceeds described above.  The Company’s right to reimbursement pursuant
hereto above shall at all times and in all respects be subject and subordinate
to the rights of the Lessor to receive full repayment of the Unrecovered Lessor
Investments, including Yield thereon. 
Notwithstanding anything to the contrary contained herein, the Company
shall not be entitled to reimbursement for any costs expended or incurred from
the Lease Termination Date or Cancellation Date, as applicable, through the
Purchase Closing Date, if extended by the Lessor under Section 15(e) of the Lease,
in the event that the Company elects to purchase the Facility and elects to
remain in possession of the Facility pursuant to the license referenced in
Section 15(e) of the Lease.  All such
costs shall be the responsibility of the Company and shall represent the
license fee payable in consideration of the rights afforded under such license.

(m)          Standard of Care.  The Company shall perform all of its duties
and obligations under this Section 8.30 in accordance with the standards
mandated under Section 7 of the Lease as if fully set forth herein (which
standards are hereby incorporated, mutatis mutandis, herein by
reference) and in a good, workmanlike and commercially reasonable manner.  The Company shall exercise such care and in
the same manner as a prudent Person engaged in the business of managing and
operating Property similar to the Facility and used in a similar location for
the Permitted Use would in the advancement and protection of such Person’s own
economic interests and the maximization of such Person’s profits
therefrom.  Maintenance shall be
scheduled so as to minimize interference with the use, occupation and operation
of the Facility and cost consistent with good industry operating and safety
standards and all Governmental Requirements and Insurance Requirements.

(n)           Termination of the
Company’s Obligations Under Section 8.30. 
Except as otherwise expressly provided herein, the Company’s obligations
under this Section 8.30 shall commence on the Restatement Closing Date and
shall terminate upon the expiration or other termination of the Lease and
consummation of the purchase by the Company or the Guarantor (or an Affiliate
thereof) of the Facility for the Purchase Price in accordance with the Lease;
provided, however, that upon the termination of the Lease, and provided that
the Company or the Guarantor (or an Affiliate thereof) shall not have purchased
and paid the Purchase Price for the Facility in accordance with the terms of
the Lease, this Section 8.30 shall continue in full force and effect until the
date the Facility is sold to a Person other than the Lessee or any of its
Affiliates or any earlier written notice from the Lessor of its election to
terminate this Agreement.

Section 8.31    Post-Closing
Matters.  Within twenty days
following the Restatement Closing Date, the Company will:

(a)           Execute and deliver an
amendment (in form and substance reasonably satisfactory to Lessor) to that
certain Reciprocal Easement Agreement dated as of February 1, 2000, by and
between the Company and WCI, recorded as instrument #200002/0941 in the Probate
Court of Jefferson County, Alabama (as the same may have been amended,
restated, supplemented, or otherwise modified from time to time through the
date of such amendment), so as to extend the easements granted thereunder over
that portion of the Site which was released prior to the Restatement Closing
Date in accordance with the Original Lease Documents; and

 38
 

(b)           Execute and deliver an
agreement (in form and substance reasonably satisfactory to Lessor) pertaining
to the existence of, and terms and conditions governing, the common wall
between the Facility and another parcel of real property currently owned by
Lessee.

ARTICLE
IX.

EVENTS
OF DEFAULT

Section 9.01   Events of Default.  The occurrence and continuation of any one or
more of the following events shall constitute an “Event of Default.”

(a)           The Company, in its own
capacity or in the capacity as Lessor’s agent or as Lessee under the Lease,
shall default in the payment of the principal amount of any Lessor Investment
when due; or default in the payment of any Yield on any Lessor Investment when
due; or default in the payment of any other amounts payable by it hereunder or
under the Operative Documents, to the Funding Parties when due and the
continuance of such default for 5 Business Days thereafter; or default in the
payment of any other amounts payable hereunder or under any other Operative
Documents to agents, attorneys and consultants of the Lessor or any Lease
Participant when due and the continuance of such nonpayment for 30 days
thereafter; or

(b)           Any representation,
warranty, certification or statement made by the Guarantor or the Company in
Article VII of this Agreement or in any other Operative Document or in any
certificate, financial statement or other document delivered pursuant to this
Agreement or any other Operative Document shall prove to have been incorrect or
misleading in any material respect when made or reaffirmed (or deemed made or
reaffirmed); or

(c)           The Guarantor or the
Company shall fail to observe or perform any covenant or agreement contained in
clause (iii) of Section 8.01, in clause (ii) of Section 8.02, or in Sections
8.04 through 8.07 inclusive, or in 8.23 through 8.28, inclusive, of this
Agreement; or

(d)           The Company shall fail
to observe or perform any covenant or agreement contained or incorporated by
reference in this Agreement (other than those covered by paragraphs (a) and (c)
above), or the Guarantor shall fail to observe or perform any other covenant or
agreement contained or incorporated by reference in the Guaranty, and in either
case such failure shall not have been cured within 30 days after the earlier to
occur of (i) written notice thereof has been given to the Guarantor and the
Company by the Lessor at the request of the Majority Funding Parties or (ii)
either the Vice President-Investments or the Controller (or if no person has
such title, any other officer having similar functions, regardless of title) of
the Guarantor or the Company otherwise becomes aware of any such failure; or

(e)           A “Lease Event of
Default” shall occur, any other default or event of default shall occur under
any other Operative Document, or any default or event of default shall occur
under the Revolving Credit Agreement; or

(f)            The Guarantor, the
Company or any other Consolidated Subsidiary shall fail to make any payment in
respect of Indebtedness outstanding in an aggregate principal amount equal to
or greater than $15,000,000 (excluding Indebtedness incurred pursuant hereto)
after the expiry of any applicable grace period; or

 39
 

(g)           Any other event or
condition shall occur which (i) results in the acceleration of the maturity of
Indebtedness (other than Indebtedness which would not constitute a “liability”
in accordance with GAAP) outstanding of the Guarantor, the Company or any other
Consolidated Subsidiary in an aggregate principal amount equal to or greater
than $15,000,000 (including, without limitation, any required mandatory
prepayment or “put” of such Indebtedness to the Guarantor (other than a “put”
which is not predicated solely on the basis of a breach or other default by the
Guarantor, the Company or any other Consolidated Subsidiary), the Company or
any other Consolidated Subsidiary) or (ii) enables (or, with the giving of
notice or lapse of time or both, would enable) the holders of such Indebtedness
or any Person acting on such holders’ behalf to accelerate the maturity thereof
(including, without limitation, any required mandatory prepayment or any such “put”
of such Indebtedness to the Guarantor, the Company or any other Consolidated
Subsidiary); or

(h)           The Guarantor, the
Company or any other Consolidated Subsidiary shall commence a voluntary case or
other proceeding seeking liquidation, reorganization or other relief with respect
to itself or its debts under any bankruptcy, insolvency or other similar law
now or hereafter in effect or seeking the appointment of a trustee, receiver,
liquidator, custodian or other similar official of it or any substantial part
of its property, or shall consent to any such relief or to the appointment of
or taking possession by any such official in an involuntary case or other
proceeding commenced against it, or shall make a general assignment for the
benefit of creditors, or shall fail generally to pay its debts as they become
due, or shall take any corporate action to authorize any of the foregoing; or

(i)            An involuntary case or
other proceeding shall be commenced against the Guarantor, the Company or any
other Consolidated Subsidiary seeking liquidation, reorganization or other
relief with respect to it or its debts under any bankruptcy, insolvency or
other similar law now or hereafter in effect or seeking the appointment of a
trustee, receiver, liquidator, custodian or other similar official of it or any
substantial part of its property, and such involuntary case or other proceeding
shall remain undismissed and unstayed for a period of 30 days; or an order for
relief shall be entered against the Guarantor, the Company or any other
Consolidated Subsidiary under the federal bankruptcy laws as now or hereafter
in effect; or

(j)            The Guarantor, the
Company or any member of the Controlled Group shall fail to pay when due any
material amount which it shall have become liable to pay to the PBGC or to a Plan
under Title IV of ERISA; or notice of intent to terminate a Plan or Plans shall
be filed under Section 4041(c) of ERISA by the Company, any member of the
Controlled Group, any plan administrator or any combination of the foregoing;
or the PBGC shall institute proceedings under Title IV of ERISA to terminate or
to cause a trustee to be appointed to administer any such Plan or Plans or a
proceeding shall be instituted by a fiduciary of any such Plan or Plans to
enforce Section 515 or 4219(c)(5) of ERISA and such proceeding shall not have
been dismissed within 30 days thereafter; or a condition shall exist by reason
of which the PBGC would be entitled to obtain a decree adjudicating that any
such Plan or Plans must be terminated, if the PBGC gives notice of its
intention to seek or takes any action seeking to obtain such a decree; or

(k)           One or more judgments or
orders for the payment of money in an aggregate amount in excess of $15,000,000
(exclusive of amounts fully covered by insurance) shall be

 40
 

rendered against the Guarantor, the Company or any
other Consolidated Subsidiary and such judgment or order shall continue
unsatisfied and unstayed for a period of 45 days; or

(l)            A federal tax lien
shall be filed against the Guarantor, the Company or any other Consolidated
Subsidiary under Section 6323 of the Code or a lien of the PBGC shall be filed
against the Guarantor, the Company or any other Consolidated Subsidiary under
Section 4068 of ERISA and if in either case the amount involved is in an
aggregate amount in excess of $15,000,000 and such lien shall remain
undischarged for a period of 60 days after the date of filing;

(m)          Any
of the Operative Documents shall cease, for any reason, to be in full force and
effect or the Guarantor or  the
Company shall so assert; or

(n)           A Change of Control
shall occur.

Section 9.02   Remedies.

(a)           Upon the occurrence and
continuation of any Event of Default (other than a Limited Recourse Event of
Default):

(i)            in the case of an Event
of Default (other than one referred to in Sections 9.01(h) or (i)), the Lessor
may and, upon request of the Majority Funding Parties, shall, declare the
principal amount of the Unrecovered Lessor Investments and the accrued Yield
thereon and all other amounts payable by the Company hereunder and under the
other Operative Documents, to be forthwith due and payable, whereupon such
amounts shall be immediately due and payable without presentment, demand,
protest, notice of intent to accelerate, notice of acceleration or other
formalities of any kind, all of which are hereby expressly waived by the
Company;

(ii)           in the case of the
occurrence of an Event of Default referred to in Sections 9.01(h) or (i), the
Unrecovered Lessor Investments and the accrued Yield thereon and all other
amounts payable by the Company hereunder and under the other Operative
Documents shall become automatically immediately due and payable without
presentment, demand, protest, notice of intent to accelerate, notice of
acceleration or other formalities of any kind, all of which are hereby
expressly waived by the Company; and

(iii)          At
the direction of the Majority Funding Parties, Lessor shall take such other
action and exercise such remedies pursuant to the Operative Documents as are
available to it under law or in equity.

(b)           Notwithstanding Sections
9.02(a)(i) and (ii), the Guarantor or the Company may cure any Default or Event
of Default under Section 9.01 by paying the Termination Value or purchasing the
Facility as provided in Section 15(c) of the Lease for the Purchase Price.

(c)           No Lease Participant may
initiate or pursue remedies unless and until the Lessor initiated remedies
against the Facility, the Guarantor or the Company.  In the event the Lessor

 41
 

has initiated remedies, the Lease Participants may
join in enforcement of remedies against the Facility, the Guarantor or the
Company.

(d)           If the Majority Funding
Parties shall have instructed the Lessor to sell or foreclose on the Facility
and other collateral in accordance with the Security Instruments and the Lease,
then (i) the net cash sales or foreclosure proceeds to be received must at
least equal an amount equal to the Funded Amount, plus all other amounts then
owing to the Funding Parties hereunder and under the other Operative Documents
and (ii) the Majority Funding Parties may not, without the consent of the
Lessor, instruct the Lessor to sell the Facility or any portion thereof for an
amount less than sufficient to pay in full the Funded Amount pursuant to
Section 3.05, or instruct the Lessor to foreclose on the Facility in accordance
with the Security Instruments and the Lease for a cash bid which is not
sufficient to pay in full the Funded Amount.

(e)           The Funding Parties
agree not to exercise their remedies against the Facility under the Security
Instruments unless an Event of Default (other than a Limited Recourse Event of
Default) has occurred and is continuing hereunder and the Lease has terminated
and the Guarantor or the Company (or any Affiliate thereof) shall not have
purchased the Facility on or before the Cancellation Date.

(f)            Any other term or
provision hereof, or in any other Operative Document, to the contrary
notwithstanding, upon the occurrence of an Event of Default which constitutes a
Limited Recourse Event of Default, the Lessor may, and upon request of the
Majority Funding Parties, shall, notify the Company of its election to
terminate the Lease in accordance with Sections 2 and 15 of the Lease, at which
time a Termination Event shall be deemed to have occurred and the Lessor and
the Lease Participants shall have the rights with respect thereto as set forth
in the Lease and the other Operative Documents. 
For purposes of certainty, nothing herein shall prohibit the Lessor and
the Lease Participants from exercising remedies under the Lease and under
9.02(a) in connection with the occurrence of an Event of Default which occurs
after a Termination Event and the undertaking of actions in response thereto.

ARTICLE
X.

THE
LESSOR AS SERVICING AGENT FOR THE LEASE PARTICIPANTS; THE ADMINISTRATIVE AGENT

Section 10.01   Lessor
as Servicing Agent.

(a)           Appointment, Powers
and Immunities.  Each Lease
Participant hereby appoints and authorizes the Lessor to take such action as
servicing agent on its behalf and to exercise such powers under this Agreement
as are delegated to the Lessor by the terms hereof, together with such powers
as are reasonably incidental thereto.  As
to any matters not expressly provided for by this Agreement (including, without
limitation, enforcement of this Agreement or collection of the Lessor
Investments), the Lessor shall not be required to exercise any discretion or
take any action, but shall be required to act or to refrain from acting (and
shall be fully protected in so acting or refraining from acting) upon the
instructions of the Majority Funding Parties, and such instructions shall be
binding upon all Lease Participants; provided, however, that the
Lessor shall not be required to take any action which exposes the Lessor to
personal liability or which is

 42
 

contrary to this Agreement or applicable law.  The Lessor agrees to give to each Lease
Participant prompt notice of each notice given to it by the Guarantor or the
Company pursuant to the terms of this Agreement or any of the Operative Documents.

(b)           Reliance by Lessor.  Neither the Lessor nor any of its respective
directors, officers, agents or employees shall be liable for any action taken
or omitted to be taken by it or them under or in connection with this
Agreement, except for its or their own gross negligence or willful misconduct,
or its failure to pay to any Lease Participant its Percentage Share of any Rent
or other amounts in which such Lease Participant has an Ownership Interest
which the Lessor actually has received. 
Without limitation of the generality of the foregoing, the Lessor:  (a) may treat any Lease Participant as the
owner of its Ownership Interest until the Lessor receives and accepts an
Assignment and Acceptance entered into by such Lease Participant, as assignor,
and an Eligible Assignee, as assignee, as provided in Section 11.06; (b) may
consult with legal counsel (including counsel for the Guarantor or the
Company), independent public accountants and other experts selected by it and
shall not be liable for any action taken or omitted to be taken in good faith
by it in accordance with the advice of such counsel, accountants or experts;
(c) makes no warranty or representation to any Lease Participant and shall not
be responsible to any Lease Participant for any statements, warranties or
representations (whether written or oral) made in or in connection with this
Agreement or any of the other Operative Documents; (d) shall not have any duty
to ascertain or to inquire as to the performance or observance of any of the
terms, covenants or conditions of this Agreement or any of the other Operative
Documents on the part of the Guarantor or the Company or to inspect the
Facility or the property (including the books and records) of the Guarantor or
the Company; (e) shall not be responsible to any Lease Participant for the due
execution, legality, validity, enforceability, genuineness, sufficiency or
value of this Agreement, any other Operative Documents or any other instrument
or document furnished pursuant hereto; (f) shall incur no liability under or in
respect of this Agreement or the Operative Documents by acting upon any notice,
consent, certificate or other instrument or writing (which may be by telegram,
telecopier, cable or telex) believed by it to be genuine and signed or sent by
the proper party or parties; and (g) shall act or refrain from acting, and
shall be fully protected in acting or refraining from acting, in selling or
otherwise disposing of the Facility in accordance with the Security
Instruments, upon receiving instructions signed by the Majority Funding
Parties.

(c)           Defaults.  The Lessor shall not be deemed to have
knowledge of the occurrence of a Default (other than the non-payment of Rent)
unless the Lessor has received notice from a Lease Participant or the Company
specifying such Default and stating that such notice is a “Notice of Default.”  In the event that the Lessor receives such a
notice of the occurrence of a Default, the Lessor shall give prompt notice
thereof to the Lease Participants (and shall give each Lease Participant prompt
notice of each such non-payment).  The
Lessor shall (subject to Section 10.07) take such action with respect to such
Default as shall be directed by the Majority Funding Parties, as provided in
Section 10.02, provided that, unless and until the Lessor shall have received
such directions, the Lessor may (but shall not be obligated to) take such
action, or refrain from taking such action, with respect to such Default as it
shall deem advisable in the best interest of the Funding Parties.

(d)           Rights as a Funding
Party.  With respect to its Lessor
Commitment and its Ownership Interests, the Lessor shall have the same rights
and powers under this Agreement as

 43
 

any other Funding Party (except to the extent the
rights and obligations of the Lessor as such are different from the rights of
the Lease Participants as such) and may exercise the same as though it were not
acting as the agent of the Lease Participants as provided herein; and the term “Funding
Party” or “Funding Parties” shall, unless otherwise expressly indicated,
include the Lessor in its individual capacity. 
The Lessor and its affiliates may accept deposits from, lend money to,
act as trustee under indentures of, and generally engage in any kind of
business with, the Guarantor, the Company, any of the other Subsidiaries and
any Person who may do business with or own securities of the Guarantor or any
of the Subsidiaries, all as if the Lessor were not the agent of the Lease
Participants pursuant hereto and without any duty to account therefor to the
Lease Participants.

(e)           Indemnification by
Lease Participants.  The Lease
Participants agree to indemnify the Lessor (to the extent not reimbursed by the
Company), ratably according to their respective Ownership Interests, from and
against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, orders, suits, costs, expenses or disbursements of any kind
or nature whatsoever which may be imposed on, incurred by, or asserted against
the Lessor in any way relating to or arising out of this Agreement or any of
the Operative Documents or any action taken or omitted by the Lessor under this
Agreement or any of the Operative Documents, provided that no Lease
Participant shall be liable for any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, orders, suits, costs, expenses
or disbursements resulting from the Lessor’s gross negligence or willful
misconduct, or its failure to pay to any Lease Participant its Percentage Share
of any Rent or other amounts in which such Lease Participant has an Ownership
Interest which the Lessor actually has received.  Without limitation of the foregoing, each
Lease Participant agrees to reimburse the Lessor promptly upon demand for its
ratable share of any out-of-pocket expenses (including reasonable counsel fees)
incurred by the Lessor in connection with the preparation, execution, delivery,
administration, modification, amendment or enforcement (whether through
negotiations, legal proceedings, in bankruptcy or insolvency proceedings, or
otherwise) of, or legal advice in respect of rights or responsibilities under,
this Agreement or the other Operative Documents, to the extent that the Lessor
is not reimbursed for such expenses by the Guarantor or the Company.

(f)            Indemnification by
Lessor.  Solely to the limited
extent, if any, monies are received by Lessor from Company with respect to the
Indemnified Risks and without recourse to the Lessor except with respect to
such monies received, the Lessor agrees to indemnify and save harmless each
other Indemnified Party, from and against all liabilities, Liens, Taxes,
losses, obligations, claims, damages (including, without limitation, penalties,
fines, court costs and administrative service fees), penalties, demands, causes
of action, suits, proceedings (including any investigations, litigation or
inquiries), judgments, orders, sums paid in settlement of claims, and costs and
expenses of any kind or nature whatsoever, including, without limitation,
reasonable attorneys’ fees and expenses and all other expenses incurred,
suffered or realized in connection with investigating, defending or preparing
to defend any cause of action, suit or proceeding (including any
investigations, litigation or inquiries) or claim which may be incurred by or asserted
against or involve any of them (whether or not any of them is named as a party
thereto) as a result of, arising directly or indirectly out of or in any way
related to any of the Indemnified Risks.

 44
 

(g)           Non-Reliance on
Lessor and other Lease Participants. 
Each Lease Participant acknowledges that it has, independently and
without reliance upon the Lessor or any other Lease Participant and based on
the financial statements referred to in Section 7.01 and such other documents
and information as it has deemed appropriate, made its own credit analysis and
decision to enter into this Agreement. 
Each Lease Participant also acknowledges that it will, independently and
without reliance upon the Lessor or any other Lease Participant and based on
such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
this Agreement.  Except for notices,
reports and other documents and information expressly required to be furnished
to the Lease Participants by the Lessor hereunder, the Lessor shall not have
any duty or responsibility to provide any Lease Participant with any credit or
other information concerning the affairs, financial condition or business of
the Guarantor, the Company or any affiliates thereof, which may come into the
possession of the Lessor or any of its affiliates.

(h)           Failure to Act.  The Lessor shall in all cases be fully
justified in failing or refusing to act hereunder or under the Operative
Documents unless it shall be indemnified to its satisfaction by the Lease
Participants against any and all liability and expenses which may be incurred
by it by reason of taking or continuing to take any such action.

Section 10.02   Appointment
of the Administrative Agent.

(a)           The parties hereto
acknowledge and agree that Lessor may, and hereby does, appoint the
Administrative Agent to undertake and perform on its behalf all of Lessor’s
administrative and servicing obligations under the Operative Documents,
including, without limitation, (i) sending and receiving notices by or on
behalf of the Lessor (all of which notices, when delivered by the
Administrative Agent, shall constitute constructive delivery thereof by the
Lessor and, when received by the Administrative Agent, shall constitute
constructive receipt thereof by the Lessor), (ii) the collection and
disbursement of all payments which are to be made to or from Lessor to any
other party (including, without limitation, the payment of Rent, Supplemental
Rent, Yield, payments under the Guaranty, the proceeds of any collateral, the
proceeds of any right of setoff, and insurance or condemnation proceeds), (iii)
the receipt, on Lessor’s behalf, of any reports, financial statements, and
other information required to be delivered to Lessor under the Operative
Documents (including, without limitation, the financial statements required to
be delivered pursuant hereto, and environmental reports), all of which, when
received by the Administrative Agent shall constitute constructive receipt
thereof by the Lessor, (iv) maintaining the Register in accordance with Section
11.06(d), (v) delivering notices with respect to Yield and the Applicable
Margin, and (vi) exercising, to the extent requested by Lessor from time to
time, all rights and remedies afforded Lessor, and on Lessor’s behalf, under
the Operative Documents.

(b)           In performing its duties
as the Administrative Agent hereunder, the Administrative Agent shall be
entitled to all of the rights and benefits afforded Lessor as servicing agent
under Section 10.01, all of which are incorporated by reference into this
Section 10.02 in favor of the Administrative Agent, mutatis mutandis, including, without limitation, the rights
with respect to indemnification from the Lease Participants, the benefits of
any exculpation afforded Lessor under Section 10.01, rights with respect the
failure or refusal to act, and the rights as a Funding Party (if the
Administrative Agent is or becomes a Funding Party).

 45
 

(c)           Each of the parties
hereto (and the Guarantor by execution and delivery of the Guaranty) agrees to
abide by the provisions of this Section 10.02 and other provisions in the
Operative Documents in respect of the Administrative Agent’s role and function
in connection with the administration of the transactions contemplated herein
and therein by, among other things, making all payments of money (whether as
Rent, proceeds, or otherwise) which would otherwise be payable to Lessor
directly to the Administrative Agent and sending all notices which would
otherwise be sent to Lessor directly to the Administrative Agent.

(d)           Each of the parties
hereto (and the Guarantor by execution and delivery of the Guaranty) agrees
that (i) notice under any of the Operative Documents delivered to the
Administrative Agent shall constitute constructive receipt thereof by Lessor
and that notice delivered by the Administrative Agent shall constitute in all
respects notice delivered by the Lessor under the Operative Documents and (ii)
receipt by the Administrative Agent of any payment under the Operative
Documents which would otherwise be payable to or for Lessor’s account shall
constitute receipt thereof by the Lessor.

(e)           The Guarantor
acknowledges and agrees to the provisions of this Section 10.02 by its
execution and delivery of the Guaranty.

ARTICLE
XI.

MISCELLANEOUS

Section 11.01   Amendments,
Etc.  The parties hereby agree that
(1) no amendment, modification or waiver of any provision of this Agreement,
and no consent to any departure by the Company herefrom, shall be effective
against the Company, the Lessor, the Administrative Agent, or the Lease
Participants unless it shall be in writing and signed by the Company and the
Majority Funding Parties; (2) no amendment, modification or waiver of any
provision of the Guaranty, and no consent to any departure by the Guarantor
therefrom, shall be effective against the Guarantor, the Lessor or the Lease
Participants, unless signed by the Guarantor and the Lessor, with the consent
of all of the Lease Participants; and (3) no amendment, modification or waiver
of any provision of any other Operative Documents, and no consent to any
departure by the Company or the Guarantor, as applicable, therefrom, shall be
effective against the Guarantor or the Company, as applicable, or the Lessor or
the Lease Participants unless signed by the Persons executing such Operative
Document, the Guarantor and/or the Company, as applicable, and the Lessor, with
the consent of the Majority Funding Parties; provided, however, that:

(a)           no such amendment,
waiver or consent shall, unless in writing and signed by the Company, all the
Funding Parties, and the Administrative Agent, be effective to (i) amend this
Section 11.01 or (ii) or change the definition of “Final Rent Payment,” “Termination
Value,” or “Purchase Price”;

(b)           no such amendment,
waiver or consent shall, unless in writing and signed by all the Funding
Parties, be effective to (i) subject any Funding Parties to any additional
obligation, (ii) reduce or forgive all or any portion of the principal of the
Lessor Investments or Yield thereon or reduce the rates used to determine Yield
(including, without limitation, the Pricing Schedule), (iii) postpone or
otherwise change any date fixed for any payment of the principal of

 46
 

the Lessor Investments or Yield thereon, (iv) change
the definition of “Majority Funding Parties,” “A Percentage Share,” or “B
Percentage Share” or the percentage of the aggregate Ownership Interests which
shall be required for the Lessor (or the Administrative Agent on Lessor’s
behalf) to take any action under this Agreement, (v) except as otherwise
permitted in this Agreement or the other Operative Documents, permit the
creation of any Lien (other than Permitted Liens) on the Collateral equal to or
prior to the interests of the Funding Parties or sell or otherwise dispose of
any portion of the Collateral or release any Lien created under the Operative
Documents, or (vi) waive the terms of any payment obligation (whether Yield or
Lessor Investments) or amend or modify the order of application of payments and
proceeds; (vii) release the Company or any surety or guarantor of any of the
Company’s obligations or otherwise limit recourse to such surety or guarantor;
or (v) waive any of the conditions specified in Article VI;

(c)           no such amendment,
waiver or consent shall, unless in writing and signed by the Lessor and all
other Funding Parties, be effective to restrict, limit, or terminate the rights
of, or increase or modify the duties of, Lessor under any Operative Document;
and

(d)           no such amendment,
waiver or consent shall, unless in writing and signed by the Administrative
Agent and all of the Funding Parties, be effective to restrict, limit, or
terminate the rights of, or increase or modify the duties of, the
Administrative Agent under any Operative Document.

In any of the foregoing events, any such waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which given.

Section 11.02   Notices.  Except as otherwise provided in Article II or
Article V, all notices and other communications provided for hereunder shall be
in writing (including by telecopier and other readable communication) and
mailed by certified mail, return receipt requested, telecopied or otherwise
transmitted or delivered, for the Guarantor, at 2801 Highway 280 South,
Birmingham, Alabama 35223, Attention: Lance Black, Telecopier: 205-268-3642,
for any party hereto, at its address set forth under its name on its signature
page hereto or, as to a Lease Participant that is not a party hereto as of the
date hereof, in an Assignment and Acceptance, or as to each party at such other
address as shall be designated by such party in a written notice to the other
parties.  All such notices and
communications shall, if so mailed, telecopied or otherwise transmitted, be
effective when received, if mailed, or when the appropriate answer back or
other evidence of receipt is given, if telecopied or otherwise transmitted,
respectively.  A notice received by the
Lessor (or the Administrative Agent on Lessor’s behalf) by telephone pursuant
to Article II or Article V shall be effective if the Lessor (or, if to the
Administrative Agent, the Administrative Agent) believes in good faith that it
was given by an authorized representative of the Company and acts pursuant
thereto, notwithstanding the absence of written confirmation or any
contradictory provision thereof.  The
parties hereto acknowledge the applicability of Section 10.02 to terms in this
Section 11.02 relating to the delivery of notice to and from the Lessor.

 47

Section 11.03 Payment
of Expenses, Indemnities, Etc.

(a)           The Company agrees to pay on demand
(i) all reasonable fees and out-of-pocket expenses of counsel for the Lessor
and the Administrative Agent in connection with the preparation, execution and
delivery of this Agreement, the other Operative Documents and the other
documents to be delivered hereunder and the fulfillment or attempted
fulfillment of conditions precedent hereunder, (ii) all reasonable costs and
expenses incurred by Lessor and the Administrative Agent and their Affiliates
(including, without limitation, WCI) in effecting the assignment of WCI’s
interest in the Operative Documents and the Original Lease Documents to Lessor
and in syndicating or re-issuing to the Lease Participants all or any portion
of the Lessor Investments hereunder, including, without limitation, the related
reasonable fees and out-of-pocket expenses of counsel for WCI, Lessor, and the
Administrative Agent or any of their Affiliates, travel expenses, duplication
and printing costs and courier and postage fees, and excluding any syndication
fees paid to other parties joining the syndicate and (iii) all out-of-pocket
costs and expenses, if any, incurred by the Lessor, the Administrative Agent,
and the Lease Participants in connection with the enforcement (whether through
negotiations, legal proceedings in bankruptcy or insolvency proceedings, or
otherwise) of this Agreement, the other Operative Documents and the other
documents to be delivered hereunder and thereunder, including the reasonable
fees and out-of-pocket expenses of counsel. 
In furtherance of and not in limitation of the foregoing, the Company
shall pay all fees, costs and expenses incurred in obtaining the Approved
Appraisal, the Environmental Assessment, the title policy referred to in
Section 6.01(k), the certification to the Survey required by Section 6.01(i)]
and the Related Contracts.  The Company
shall indemnify the WCI, Lessor, the Administrative Agent, and each Lease Participant
against any transfer taxes, documentary taxes, assessments or charges made by
any Governmental Authority by reason of the execution and delivery of, and
performance of obligations under, any of the Operative Documents or the Lessor
Assignment Agreement.

(b)           The Company (in its capacity as
Lessee) agrees, in addition to any other indemnity obligations set forth in any
Operative Document, to indemnify and save harmless each Indemnified Party from
and against all liabilities, Liens, Taxes, losses, obligations, claims, damages
(including, without limitation, penalties, fines, court costs and
administrative service fees), penalties, demands, causes of action, suits,
proceedings (including any investigations, litigation or inquiries), judgments,
orders, sums paid in settlement of claims, and costs and expenses of any kind
or nature whatsoever, including, without limitation, reasonable attorneys’ fees
and expenses and all other expenses incurred, suffered or realized in
connection with investigating, defending or preparing to defend any cause of
action, suit or proceeding (including any investigations, litigation or
inquiries) or claim which may be incurred by or asserted against or involve any
of them (whether or not any of them is named as a party thereto) as a result
of, arising directly or indirectly out of or in any way related to (i) the
failure of the Guarantor or the Company to perform or caused to be performed,
or the inadequacy of, the environmental due diligence required under Article IV
of the Original Agency Agreement or any of the applicable Operative Documents,
(ii) the breach of any representation, warranty or agreement set forth under
the Operative Documents regarding Environmental Requirements or relating to
environmental matters, (iii) the failure of the Guarantor or the Company to
perform any obligation required to be performed under the Operative Documents
pursuant to Environmental Requirements or relating to environmental matters,
(iv) the failure of the Guarantor or the Company  to obtain any Environmental Authorizations required in the
management, maintenance

 48
 

and operation of the Facility, or the operation of any
business on or related to the Facility or the Site, (v) any Environmental
Damages, Environmental Liabilities and Environmental Proceedings relating to
the Facility; (vi) all acts or omissions by or on behalf of the Company, its
contractors, employees, agents, licensees, representatives or any other Person
for whose conduct the Company is responsible in connection with this Agreement,
any Related Contract or under any Operative Document (individually and
collectively, as the context shall require, the “Company Agents”); (vii)
the breach or failure to perform by the Company (directly or by any of the
Company Agents) of any provisions of this Agreement or under any Operative
Document; (viii) the operations of the business of the Company; (ix) the
failure of the Company (directly or by any of the Company Agents) to comply
with any Governmental Requirement (including, without limitation, design,
construction, manufacture, engineering, assembly, installation, use, operation
or ownership of the Facility or any portion thereof); (x) the failure of the
Company (directly or by any of the Company Agents) to pay any amount required
to be paid hereunder or under the Lease or any other Operative Document,
including, without limitation (and without duplication), the Lessor Investments
and Yield thereon (whether or not the Lease has terminated) and Rent; (xi) the
Lessor’s ownership and leasing of the Facility pursuant to the Lease (other
than taxes excluded from the definition of Taxes); (xii) the sale of any
portion of the Facility either to the Company or any other Person pursuant to
the provisions of the Lease; (xiii) any Imposition, Lien, judgment, order, tax,
or other payment owing in respect of the Facility or which the Company is
obligated to discharge or pay to any Person; (xiv) the renovation,
construction, leasing, subleasing, operation, occupancy, possession, use or
non-use by the Company of the Facility or any portion thereof, or the condition
of the Facility or any portion thereof; (xv) any Default or Event of Default
under the Lease or this Agreement; (xvi) any act or omission of the Company
(directly or by any of the Company Agents) relating to, or in connection with,
the ownership, renovation, construction, leasing, subleasing, operation,
management, maintenance, occupancy, possession, use, non-use or condition of
the Facility or any portion thereof; (xvii) performance of any labor or
services or furnishing of any materials or other Property in respect of the
Facility or any portion thereof; (xviii) any permitted contest referred to in
Section 15 of the Lease; and (xix) any claims for patent, trademark, trade name
or copyright infringement;

provided, however, that no
Indemnified Party shall be entitled to indemnity (or any other payment or
reimbursement) for any Indemnified Risks pursuant to this Section 11.03(b) to
the extent such Indemnified Risks result from or arise out of (i) the willful
misconduct or gross negligence of such Indemnified Party or (ii) for any risks
arising from any third-party damage claims arising from acts or omissions
occurring during the Construction Term, other than third-party damage claims
caused by or resulting from the Company’s (or any of the Company Agents’) own
actions or failures to act while in possession or control of the Facility or
for any risks beyond the control of the Company during the Construction Term
(directly or through the Company Agents), including acts of God, casualty
losses and condemnations.

(c)           The risks identified in Section
11.03(b) are referred to in this Agreement, individually and collectively, as
the context shall require, as the “Indemnified Risks.”  The Lessor, the Administrative Agent, and
each Lease Participant, and their respective successors and assigns, and their
officers, directors, incorporators, shareholders, employees, agents, partners,
attorneys, affiliates, contractors, subcontractors and servants are referred to
in this Agreement individually as an “Indemnified Party” and
collectively as the “Indemnified Parties.”

 49
 

(d)           If any cause of action, suit,
proceeding or claim arising from any of the foregoing is brought against any
Indemnified Party, whether such action, suit, proceeding, or claim shall be
actual or threatened, or in preparation therefor, the Company will have the
right, at its expense, to assume the resistance and defense of such cause of
action, suit, proceeding or claim or cause the same to be resisted and
defended; provided that such Indemnified Party shall be entitled (but
not obligated) to participate jointly in such defense, in which case such
Indemnified Party will be responsible for its own legal fees or other expenses,
if any, related to such defense incurred subsequent to the joint participation
by such party in such defense. 
Notwithstanding the foregoing, the Indemnified Party may assume the
defense of such action, suit, proceeding, or claim (and the Company agrees to
reimburse such Indemnified Party on demand for the reasonable fees and expenses
of any counsel retained by the Indemnified Party), if (i) such Indemnified
Party shall have been advised by counsel chosen by it that there may be one or
more legal defenses available to such Indemnified Party that are different from
or additional to those available to the Company or (ii) the Indemnified Party’s
counsel shall have advised such Indemnified Party that such action, suit,
proceeding, or claim involves a risk of the imposition of criminal liability or
will involve a material risk of the sale, forfeiture, or loss of, or the
creation of any Lien (other than a Permitted Lien of the type described in
clause (i) of the definition thereof) on the Lease or the Facility or any part
thereof.  The Company may settle any
action which it defends hereunder on such terms as it may deem advisable in its
sole discretion, subject to its ability promptly to perform in full the terms
of such settlement and only if such settlement does not include any admission
of bad faith, gross negligence, willful misconduct, or criminal conduct to be
entered against, or deemed made by, any Indemnified Party (unless the
Indemnified Parties implicated thereby or involved therein agree thereto in
writing in their sole discretion).  No Indemnified
Party may seek indemnification or other reimbursement or payment, including
attorneys’ fees or expenses, from the Company for any cause of action, suit,
proceeding or claim settled, compromised or in any way disposed of by the
Indemnified Party without the Company’s prior written consent, which will not
be unreasonably withheld.

(e)           The obligations of the Company under
this Section 11.03 shall survive the expiration or any termination of this
Agreement (whether by operation of law or otherwise) and the payment of amounts
owed by the Company under this Agreement and the other Operative Documents, and
shall also expressly survive any sale, transfer or conveyance of the Facility
made by the Lessor pursuant to the Lease for a period of 2 years after the
termination of this Agreement and any such sale, transfer or conveyance, except
for indemnification obligations of the Company, which shall continue to survive
thereafter.

(f)            Upon demand for payment by any
Indemnified Party of any Indemnified Risks incurred by it for which
indemnification is sought, the Company shall pay when due and payable the full
amount of such Indemnified Risks to the appropriate party, unless and only so
long as: (i) the Company shall have assumed the defense of such action and is
diligently prosecuting the same; (ii) the Company is financially able to pay
all its obligations outstanding and asserted against the Company at that time,
including the full amount of the Indemnified Risks; and (iii) the Company has
taken all action as may be reasonably necessary to prevent (1) the collection
of such Indemnified Risks from, or the assertion of any Lien in respect thereof
against, the Indemnified Party or its property or assets; (2) the sale,
forfeiture or loss of the Facility or any portion thereof, or any property or
assets of such Indemnified Party during such defense of such

 50
 

action; and (3) the imposition of any civil or
criminal liability for failure to pay such Indemnified Risks when due and
payable.

(g)           The Company acknowledges and agrees,
subject to the limitations contained in paragraph (b), that its obligations
under this Section 11.03 are intended to include and extend to any and all
liabilities, Liens, Taxes, losses, obligations, claims, damages (including,
without limitation, penalties, fines, court costs and administrative service
fees), penalties, demands, causes of action, suits, proceedings (including any
investigations, litigation or inquiries), judgments, orders, sums paid in
settlement of claims, costs and expenses (including, without limitation,
response and remediation costs, stabilization costs, encapsulation costs, and
treatment, storage or disposal costs), imposed upon or incurred by or asserted
at any time against any Indemnified Party (whether or not indemnified against
by any other party) as a result of, arising directly or indirectly out of or in
any way related to (A) the treatment, storage, disposal, generation, use,
transport, movement, presence, release, threatened release, spill,
installation, sale, emission, injection, leaching, dumping, escaping or seeping
of any alleged Hazardous Materials at, under, onto, above, within or from the
Facility or any part thereof or any business conducted on or related to the
Facility or the Site; (B) the violation or alleged violation of any
Environmental Requirements relating to or in connection with the Facility or
any part thereof or any acts or omissions thereon or relating thereto; (C) all
other federal, state and local laws designed to protect the environment or
persons or property therein, whether now existing or hereinafter enacted,
promulgated or issued by any governmental authority relating to or in
connection with the Facility or any part thereof or any acts or omissions
thereon or relating thereto; (D) the Company’s failure to comply with its
obligations under Section 7 of the Lease; and (E) any abandonment of the
Facility by the Company.

(h)           Without limiting the generality of the
foregoing provisions of this Section 11.03, the Company agrees to pay or
reimburse, promptly upon demand, and protect, indemnify and save harmless, the
Lessor following the occurrence of a Termination Event, from any action by any
Sublessee or other owner of an interest in the Facility (other than a
Co-Lessee) which causes the Lessor any delay in exercising its remedies, or
results in the reduction of the Lessor’s remedies, under the Lease.

(i)            In case any action shall be brought
against any Indemnified Party in respect of which indemnity may be sought
against the Company, such Indemnified Party shall promptly notify the Company
in writing, but the failure to give such prompt notice shall not relieve the
Company from liability hereunder, except to the extent such failure deprives
the Company of any material defense otherwise available to the Company in
connection therewith.

Section 11.04 No Waiver; Remedies.  No failure on the part of any Funding Party
to exercise, and no delay in exercising, any right hereunder or under any
Operative Document shall operate as a waiver thereof; nor shall any single or
partial exercise of any right hereunder or under any Operative Document
preclude any other or further exercise thereof or the exercise of any other
right.  The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

Section 11.05 Right of Set-Off.  Upon the declaration of the principal amount
Unrecovered Lessor Investments and the accrued Yield thereon and all other
amounts payable by

 51
 

the Company hereunder and under the other Operative
Documents, to be due and payable pursuant to the provisions of Section
9.02(a), each Funding Party and the Administrative Agent, and each of their
respective Affiliates, is hereby authorized at any time and from time to time,
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 and other indebtedness at any time owing by such Funding Party,
Administrative Agent, or Affiliate to or for the credit or the account of the
Company against any and all of the obligations of the Company now or hereafter
existing under this Agreement held as part of its Ownership Interests by such
Funding Party, Administrative Agent, or Affiliate, irrespective of whether or
not such Funding Party, Administrative Agent, or Affiliate shall have made any
demand under this Agreement and although such obligations may be
unmatured.  Each Funding Party (for
itself and on behalf of its Affiliates) and the Administrative Agent (for
itself and on behalf of its Affiliates), as applicable, agrees promptly to notify
the Company after any such set-off and application, provided that the
failure to give such notice shall not affect the validity of such set-off and
application.  The rights of each Funding
Party, the Administrative Agent, and such Affiliates under this Section 11.05
are in addition to other rights and remedies (including, without limitation,
other rights of set-off) which the same may have.  All amounts received by any Funding Party,
the Administrative Agent, or any such Affiliate pursuant to this Section 11.05
shall be shared with the other Funding Parties pursuant to Section 4.02(d).

Section 11.06 Assignments
and Participations.

(a)           The Company may not assign its rights
or obligations hereunder or under any other Operative Document without the
prior consent of all of the Funding Parties.

(b)          (i)
            The Lessor shall have the
right at any time to sell A Percentage Ownership Interests and/or B Percentage
Ownership Interest to A Percentage Lease Participants and/or B Percentage Lease
Participants, as applicable, without the prior consent of the other Lease
Participants, but (unless a Default or Event of Default is in existence)
subject to the consent of the Company, which consent shall not be unreasonably
withheld or delayed. The Lessor shall not have the right to assign its rights
and obligations as Lessor hereunder and under the Lease and the other Operative
Documents except, with the prior written consent of the Lease Participants and
(unless a Default or Event of Default is in existence) the Company, which
consent in either case shall not be unreasonably withheld or delayed, to an
Eligible Lessor Assignee (and such Eligible Lessor Assignee shall expressly
assume in writing the Lessor’s rights and obligations hereunder and under the
Operative Documents).  Upon such
assignment, from and after the effective date thereof, (A) the assignee
thereunder shall be the Lessor hereunder and have the rights and obligations of
the Lessor hereunder (including, without limitation, the obligations with
respect to the Lessor Investments and the Lessor Equity Interest) and (B) the
assigning Lessor shall relinquish its rights under this Agreement, and such
assigning Lessor shall cease to be a party hereto.

(ii)           With
the prior written consent of the Lessor (which consent shall not be
unreasonably withheld or delayed) and, unless a Default or Event of Default is
in existence, the Company (which consent shall not be unreasonably withheld or
delayed), each Lease Participant may at any time assign to one or more banks or
other financial institutions all or a portion of its rights and obligations
under this Agreement (including,

 52
 

without
limitation, all or a portion of its A Percentage Ownership Interests and/or B
Percentage Ownership Interests, as applicable), and the assignee thereof shall
assume all such rights and obligations pursuant to an Assignment and Acceptance
executed by such assignee, such assigning Lease Participant and the Lessor); provided,
however, that (1) the amount of the A Percentage Ownership Interests or B
Percentage Ownership Interests of the assigning Lease Participant being
assigned pursuant to each such assignment (determined as of the date of the
Assignment and Acceptance with respect to such assignment) shall in no event be
less than $5,000,000, or integral multiples of $1,000,000 in excess thereof
(or, if less, in either case, the entire A Percentage Ownership Interests or B
Percentage Ownership Interests of the assigning Lease Participant
(distinguished, however, by those B Percentage Ownership Interests attributable
to the Non-Recourse Amount and those in excess of the Non-Recourse Amount), (4)
each such assignment shall be to an Eligible Assignee, (5) a Lease Participant
may not have more than 2 assignees that are not then Lease Participants at any
one time and (6) the parties to each such assignment shall execute and deliver
to the Administrative Agent (on behalf of the Lessor), for its acceptance and
recording in the Register, an Assignment and Acceptance, together with a
processing and recordation fee of $3,500 (for the account of the Lessor), and
shall send to the Administrative Agent (on behalf of the Lessor) an executed
counterpart of such Assignment and Acceptance, with a copy to the Company.  Upon such execution, delivery, acceptance and
recording, from and after the effective date specified in each Assignment and
Acceptance, (A) the assignee thereunder shall be a party hereto and, to the
extent that rights and obligations hereunder have been assigned to it pursuant
to such Assignment and Acceptance, have the rights and obligations of a Lease
Participant hereunder and (B) the assigning Lease Participant thereunder shall,
to the extent that rights and obligations hereunder have been assigned by it
pursuant to such Assignment and Acceptance, relinquish its rights and be
released from its obligations under this Agreement (and, in the case of an
Assignment and Acceptance covering all or the remaining portion of an assigning
Lease Participant’s Ownership Interests, such Lease Participant shall cease to
be a party hereto).

(c)           By executing and delivering an
assignment by the Lessor or an Assignment and Acceptance by a Lease
Participant, each assignor thereunder and the assignee thereunder confirm to
and agree with each other and the other parties hereto as follows: (i)
other than as provided in assignment by the Lessor or such Assignment and
Acceptance by a Lease Participant, such assigning Lessor or Lease Participant
makes no representation or warranty and assumes no responsibility with respect
to any statements, warranties or representations made in or in connection with
this Agreement or the execution, legality, validity, enforceability,
genuineness, sufficiency or value of this Agreement or any other instrument or
document furnished pursuant hereto; (ii) such assigning Lessor or Lease
Participant makes no representation or warranty and assumes no responsibility
with respect to the financial condition of the Guarantor or the Company or the
performance or observance by the Company of any of its obligations under this
Agreement or any other Operative Document or by the Guarantor under the
Guaranty; (iii) such assignee confirms that it has received a copy of this
Agreement, together with copies of the financial statements referred to in
Section 7.01 and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into
assignment or such Assignment and Acceptance; (iv) such assignee will,
independently and without reliance upon the Lessor (if it is an assignee of a
Lease Participant), such assigning Lessor or Lease

 53
 

Participant or any other Lease Participant and based
on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
this Agreement; (v) such assignee confirms that it is an Eligible Lessor
Assignee or Eligible Assignee, as applicable; (vi) such assignee appoints and
authorizes the Lessor (if it is not an assignee of a Lease Participant) and the
Administrative Agent to take such action as agent or Administrative Agent, as
applicable, for the Lease Participants on its behalf and to exercise such
powers under this Agreement as are delegated to the Lessor and the
Administrative Agent by the terms hereof, together with such powers as are
reasonably incidental thereto; and (vii) such assignee agrees that it will
perform in accordance with their terms all of the obligations which by the
terms of this Agreement are required to be performed by it as either the Lessor
or a Lease Participant, as the case may be.

(d)           The Administrative Agent shall
maintain on behalf of the Lessor at its address referred to in Section 11.02 a
copy of each Assignment and Acceptance delivered to and accepted by it and a
register for the recordation of the names and addresses of the Lease
Participants and the Ownership Interests and Lease Participant Investments
owing to each Lease Participant from time to time (the “Register”).  The entries in the Register shall be
conclusive and binding for all purposes, absent manifest error, and the
Administrative Agent, the Guarantor, the Company, the Lessor and the other
Lease Participants may treat each Person whose name is recorded in the Register
as a Lease Participant hereunder for all purposes of this Agreement.  The Register shall be available for
inspection by the Guarantor, the Company, the Lessor, and any Lease Participant
at any reasonable time and from time to time upon reasonable prior notice.  Upon the acceptance of any Assignment and Acceptance
for recordation in the Register, Exhibit E hereto shall be deemed to be
amended to reflect the revised Lease Participant Commitments of the parties to
such Assignment and Acceptance as well as administrative information with
respect to any new Lease Participant as such information is recorded in the
Register.

(e)           Upon its receipt of an Assignment and
Acceptance executed by an assigning Lease Participant and an assignee
representing that it is an Eligible Assignee, the Administrative Agent (on behalf
of the Lessor) shall, if such Assignment and Acceptance has been completed and
is in substantially the form of Exhibit E hereto, (i) accept such Assignment
and Acceptance, (ii) record the information contained therein in the Register
and (iii) give prompt notice thereof to the Guarantor, the Company, the Lessor,
the other Lease Participants. Within 5 Business Days after its receipt of such
notice and its receipt of an executed counterpart of such Assignment and
Acceptance, the Lessor, at the expense of the Company, shall execute and
deliver to each of the Lease Participants a new Ownership Certificate, giving
effect to such Assignment and Acceptance and dated the date thereof.  Such Ownership Certificates shall be conclusive
and binding absent manifest error.

(f)            Each Lease Participant may sell
participations to one or more banks or other entities in or to all or a portion
of its rights and obligations under this Agreement (including, without
limitation, all or a portion of its Ownership Interests); provided, however,
that (i) such Lease Participant’s obligations under this Agreement shall remain
unchanged, (ii) such Lease Participant shall remain solely responsible to the
Lessor for the performance of such obligations, (iii) such Lease Participant
shall remain the owner of its Ownership Interests for all purposes of this
Agreement, (iv) the Guarantor, the Company, the Administrative Agent, the
Lessor and the other Lease Participants shall continue to deal solely and
directly with such Lease Participant in

 54
 

connection with its rights and obligations under this
Agreement and the other Operative Documents, (v) such Lease Participant shall
continue to be able to agree to any modification or amendment of this Agreement
or any waiver hereunder without the consent, approval or vote of any such
participant or group of participants, other than modifications, amendments and
waivers which (A) postpone any date fixed for any payment of, or reduce any
payment of, principal of or Yield on the Lessor Investments, (B) reduce the
Yield payable under this Agreement and such Lease Participant’s Ownership
Interests, or (C) consent to the assignment or the transfer by the Company or
the Lessor of any of its rights and obligations as the Company or the Lessor,
respectively, under this Agreement (to the extent such consent is required
pursuant to the Agreement) and (vi) except as contemplated by the immediately
preceding clause (v), no participant shall be deemed to be or to have any of
the rights or obligations of a “Lease Participant” hereunder.

(g)           The Lessor or any Lease Participant
may, in connection with any assignment or participation or proposed assignment
or participation pursuant to this Section 11.06, disclose to the assignee or
participant or proposed assignee or participant any information relating to the
Guarantor or the Company furnished to the Lessor or such Lease Participant by
or on behalf of the Company or the Guarantor; provided that, prior to
any such disclosure, the assignee or participant or proposed assignee or
participant shall agree in writing for the benefit of the Guarantor and the
Company to preserve the confidentiality of any confidential information
relating to the Guarantor or the Company received by it from the Lessor or such
Lease Participant in a manner consistent with Section 11.13.

(h)           Anything in this Agreement to the
contrary notwithstanding, any Lease Participant may at any time create a
security interest in all or any portion of its rights under this Agreement
(including, without limitation, its Ownership Interests) in favor of any
Federal Reserve Bank in accordance with Regulation A of the Board of Governors
of the Federal Reserve System (or any successor regulation) and the applicable
operating circular of such Federal Reserve Bank.

(i)            Notwithstanding any other provision
of this Agreement or any other Operative Document, neither the Guarantor or the
Company nor any of their  Affiliates
(i) may acquire any of the Ownership Interests unless the Guarantor or the
Company or such Affiliate acquires all of the Ownership Interests in a single
transaction and thereby becomes bound by the provisions hereof; and unless the
Guarantor or the Company or such Affiliate shall have acquired all of the
Ownership Interests, it shall not be entitled to exercise any rights or
remedies of a Funding Party under any of the Operative Documents.

(j)            Notwithstanding any other provision
of this Agreement to the contrary, no assignee or participant shall be entitled
to receive any greater payment under Section 4.06 or 5.03 than the transferor
Funding Party would have been entitled to receive with respect to the rights
transferred, unless such transfer is made with the Company’s prior written
consent or by reason of the provisions of Section 5.02 or 5.03 hereof requiring
such Funding Party to designate a different Applicable Funding Office under
certain circumstances or at a time when the circumstances giving rise to such a
greater payment did not exist.

 55
 

Section 11.07  Invalidity.  In the event that any one or more of the provisions
contained in this Agreement or in any other Operative Document shall, for any
reason, be held invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provision
of this Agreement or any other Operative Document.

Section 11.08  Entire
Agreement.  THIS AGREEMENT AND THE OTHER OPERATIVE DOCUMENTS
EMBODY THE ENTIRE AGREEMENT AND UNDERSTANDING AMONG THE LESSOR, THE
ADMINISTRATIVE AGENT, THE LEASE PARTICIPANTS, THE GUARANTOR AND THE COMPANY AND
SUPERSEDE ALL OTHER AGREEMENTS AND UNDERSTANDINGS AMONG SUCH PARTIES RELATING
TO THE SUBJECT MATTER HEREOF AND THEREOF. 
THIS WRITTEN AGREEMENT AND THE OTHER OPERATIVE 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.

Section 11.09  References.  The words “herein,” “hereof,” “hereunder” and
other words of similar import when used in this Agreement refer to this
Agreement as a whole, and not to any particular article, section or
subsection.  Any reference herein to an
Article or Section shall be deemed to refer to the applicable Article or
Section of this Agreement unless otherwise stated herein.  Any reference herein to an exhibit or
schedule shall be deemed to refer to the applicable exhibit or schedule
attached hereto unless otherwise stated herein.

Section 11.10  Successors;
Survivals.  This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. 
The obligations of the Company under Section 4.06, Article V, and
Section 11.03 shall survive the redemption of the Lessor Investments and the
termination of this Agreement.

Section 11.11  Captions.  Captions and section headings appearing
herein are included solely for convenience of reference and are not intended to
affect the interpretation of any provision of this Agreement.

Section 11.12  Counterparts.  This Agreement may be executed in any number
of counterparts, all of which taken together shall constitute one and the same
instrument and any of the parties hereto may execute this Agreement by signing
any such counterpart.  Delivery to the
Lessor of a counterpart executed by a Lease Participant shall constitute
delivery of such counterpart to all of the Lease Participants and the
Administrative Agent.  This Agreement may
be delivered by facsimile transmission of the relevant signature pages hereof.

Section 11.13  Confidentiality.  Each Funding Party and the Administrative
Agent agrees to exercise commercially reasonable efforts to keep any
information delivered or made available by the Company or the Guarantor to it
which is clearly indicated or stated to be confidential information (or when
the circumstances under which such information is delivered or when the content
thereof would cause a reasonable person to believe that such information is
confidential) confidential from anyone other than Persons employed or retained
by such Funding Party or the Administrative Agent who are or are expected to
become engaged in evaluating, approving,

 56
 

structuring or administering the Lessor Investments,
the Ownership Interests or the Operative Documents (such Persons to likewise be
under similar obligations of confidentiality with respect to such information);
provided, however, that nothing herein shall prevent any Funding Party or the
Administrative Agent from disclosing such information (a) to any other Funding
Party or the Administrative Agent, (b) upon the order of any court or
administrative agency, (c) upon the request or demand of any regulatory agency
or authority having jurisdiction over such Funding Party or the Administrative
Agent, as applicable, (d) which has been publicly disclosed, (e) to the extent
reasonably required in connection with any litigation to which any Funding
Party, the Administrative Agent, or any of their respective Affiliates may be a
party, (f) to the extent reasonably required in connection with the exercise of
any remedy hereunder, (g) to such Funding Party’s or Administrative Agent’s
legal counsel and independent auditors, (h) to any actual or proposed Eligible
Lessor Assignee, Eligible Assignee or other participant in all or part of its
rights hereunder which has agreed in writing to be bound by the provisions of
this Section 11.13; provided that should disclosure of any such confidential
information be required by virtue of clause (b), (c) or (e) of the immediately
preceding sentence, any relevant Funding Party or the Administrative Agent
shall, to the extent permitted by applicable law, rule or regulations, promptly
notify the Company or the Guarantor of same so as to allow the Company and the
Guarantor to seek a protective order or to take any other appropriate action;
provided, further, that none of the Funding Parties nor the Administrative
Agent shall be required to delay compliance with any directive to disclose
beyond the last date such delay is legally permissible any such information so
as to allow the Company and the Guarantor to effect any such action.

Section 11.14  Governing Law; Submission to Jurisdiction.

(a)           This Agreement (including, but not
limited to, the validity and enforceability hereof and thereof) shall be governed
by, and construed in accordance with, the laws of the State of New York, other
than the conflict of laws rules thereof (other than Section 5.1401 of the New
York General Obligations Law), except to the extent that the laws of the State
of Alabama mandatorily apply.

(b)           The Company hereby irrevocably submits
to the jurisdiction of any New York State or Federal court sitting in New
York City and any appellate court from any thereof in any action or proceeding
by the Lessor or any Lease Participant in respect of, but only in respect of,
any claims or causes of action arising out of or relating to this Agreement or
the other Operative Documents (such claims and causes of action, collectively,
being “Permitted Claims”), and the Company hereby irrevocably agrees
that all Permitted Claims may be heard and determined in such New York State
court or in such Federal court.  The
Company hereby irrevocably waives, to the fullest extent it may effectively do
so, the defense of an inconvenient forum to the maintenance of such action or
proceeding in any aforementioned court in respect of Permitted Claims.  The Company hereby irrevocably agrees that
service of copies of the summons and complaint and any other process which may
be served by the Lessor, the Administrative Agent, or the Lease Participants in
any such action or proceeding in any aforementioned court in respect of
Permitted Claims may be made by delivering a copy of such process to the
Company by courier and by certified mail (return receipt requested), fees and
postage prepaid, at the Company’s address specified pursuant to Section
11.02.  The Company agrees that a final
judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law.

 57
 

(c)           Nothing in this Section 11.14:  (i) shall affect the right of any Lease
Participant or the Lessor to serve legal process in any other manner permitted
by law or affect any right otherwise existing of any Lease Participant or the
Lessor to bring any action or proceeding against the Company or its property in
the courts of other jurisdictions or (ii) shall be deemed to be a general
consent to jurisdiction in any particular court or a general waiver of any
defense or a consent to jurisdiction of the courts expressly referred to in
subsection (a) above in any action or proceeding in respect of any claim or
cause of action other than Permitted Claims.

Section 11.15  Yield.  It is the intention of the parties hereto
that each Funding Party shall conform strictly to usury laws applicable to
it.  Accordingly, if the transactions
contemplated hereby would be usurious as to any Funding Party under laws
applicable to it (including the laws of the United States of America and the
State of New York or any other jurisdiction whose laws may be mandatorily
applicable to such Funding Party notwithstanding the other provisions of this
Agreement), then, in that event, notwithstanding anything to the contrary in
this Agreement or in any other Operative Document or  any other agreement entered into in
connection with or as security for the Ownership Interests, it is agreed as
follows:  (i) the aggregate of all
consideration which constitutes interest under law applicable to any Funding
Party that is contracted for, taken, reserved, charged or received by such
Funding Party under this Agreement or under any of the other aforesaid
Operative Documents or other agreements or otherwise in connection with the
Ownership Interests shall under no circumstances exceed the maximum amount
allowed by such applicable law, and any excess shall be cancelled automatically
and if theretofore paid shall be credited by such Funding Party on the
principal amount of its Ownership Interests (or, to the extent that the principal
amount of its Ownership Interests shall have been or would thereby be redeemed
in full, refunded by such Lease Participant to the Lessor and by the Lessor to
the Company); and (ii) in the event that the maturity of the Ownership
Interests is accelerated by reason of an election of the holder thereof
resulting from any Event of Default under this Agreement or otherwise, or in
the event of any required or permitted redemption, then such consideration that
constitutes interest under law applicable to any Funding Party may never
include more than the maximum amount allowed by such applicable law, and excess
Yield, if any, provided for in this Agreement or otherwise shall be cancelled
automatically by such Funding Party as of the date of such acceleration or
prepayment and, if theretofore paid, shall be credited by such Funding Party on
the principal amount of its Ownership Interests (or, to the extent that the
principal amount of the Ownership Interests shall have been or would thereby be
redeemed in full, refunded by such Lease Participant to the Lessor and by the
Lessor to the Company).  All sums paid or
agreed to be paid to any Funding Party for the use, forbearance or detention of
sums due hereunder shall, to the extent permitted by law applicable to such
Funding Party, be amortized, prorated, allocated and spread in equal parts
throughout the full term of the Ownership Interests, until payment in full, so
that the rate or amount of Yield on account of any Ownership Interests
hereunder does not exceed the maximum amount allowed by such applicable
law.  If at any time and from time to
time (i) the amount of Yield payable to any Funding Party on any date shall be
computed at the Highest Lawful Rate applicable to such Funding Party pursuant
to this Section 11.15 and (ii) in respect of any subsequent Yield computation
period the amount of Yield otherwise payable to such Funding Party would be
less than the amount of Yield payable to such Funding Party computed at the
Highest Lawful Rate applicable to such Funding Party, then the amount of Yield
payable to such Funding Party in respect of such subsequent Yield computation
period shall continue to be computed at the Highest Lawful Rate applicable to
such Funding Party until the total amount of

 58
 

Yield payable to such Funding Party shall equal the
total amount of Yield which would have been payable to such Funding Party if
the total amount of Yield had been computed without giving effect to this
Section.

Section 11.16  Characterization.

(a)           In order to protect the rights and
remedies of the Funding Parties following a Termination Event or a Cancellation
Event, and for the purposes of commercial law and Federal, state and local
income and ad valorem taxes and Title 11 of the United States Code (or any
other applicable Federal, state or local insolvency, reorganization,
moratorium, fraudulent conveyance or similar law now or hereafter in effect for
the relief of debtors), the parties hereto intend that (i) the Lease be treated
as the repayment and security provisions of a loan by the Lessor to the Company
in the amount of the Facility Cost, (ii) all payments of Basic Rent,
Supplemental Rent, the Final Rent Payment, the Termination Value and the
Purchase Price be treated as payments of principal, interest and other amounts
owing with respect to such loan and (iii) the Company be treated as entitled to
all benefits of ownership of the Facility or any part thereof.  In addition, the parties acknowledge that
after payment in full of the Ownership Interests, the Yield accrued thereon and
any other obligations of the Company under the Operative Documents, any
remaining proceeds of the Facility shall be distributed to the Company.

(b)           The Company agrees that neither it nor
any of its Affiliates (whether or not consolidated or combined returns are
filed for any such Affiliate and the Company for federal, state or local income
tax purposes) will at any time take any action, directly or indirectly, or file
any return or other document inconsistent with the intended income tax treatment
set forth in the preceding clause (a), and the Company agrees that the Company
and any such Affiliates will file such returns, maintain such records, take
such action and execute such documents (as reasonably requested by the Lessor
or the Lease Participants from time to time) as may be appropriate to
facilitate the realization of such intended income tax treatment.  Each of the Lessor and the Lease Participants
agrees that neither it nor any affiliate (whether or not consolidated or
combined returns are filed for such affiliate and the Lessor or any Lease
Participant, as the case may be, for federal, state or local income tax
purposes) will at any time take any action, directly or indirectly, or file any
return or other document claiming, or asserting that it is entitled to, the
income tax benefits, deductions and/or credits which, pursuant to the intended
income tax treatment set forth herein, would otherwise be claimed or claimable
by the Company, and that it and any such affiliates will file such returns,
maintain such records, take such actions, and execute such documents (as
reasonably requested by the Company from time to time) as may be appropriate to
facilitate the realization of, and as shall be consistent with, such intended
income tax treatment, and if any such filing, maintenance, action or execution
requested by the Company or the Guarantor would result in any additional income
tax liability payable by it or any affiliate, or could reasonably be expected
to result in liability payable by it or any affiliate, unrelated to the
intended income tax treatment set forth herein, then the Company will provide
an indemnity against such unrelated income tax liability satisfactory to the
Lessor or any Lease Participant, as the case may be, in its sole opinion.

(c)           The Company acknowledges that no Lease
Participant, the Administrative Agent, the Lessor or any Affiliate of any of
the foregoing thereof is making any representation, nor is it required to make
any disclosure, now or in the future, with respect to the parties’ tax or

 59
 

accounting treatment of the Facility or the financing
thereof, nor is any Lease Participant, the Lessor, the Administrative Agent, or
any Affiliate or any of the foregoing responsible, nor will it be responsible
in the future, for tax and accounting advice with respect to the Facility or
the financing thereof, and the Company has had or will have the benefit of the
advice of its own independent tax and accounting advisors with respect to such
matters.

Section 11.17  Compliance.  None of the Lessor, the Administrative Agent,
nor any Lease Participant has any responsibility for compliance by the Facility
or the Company with any Governmental Requirement or other matters.  The Company expressly assumes such
responsibilities and shall indemnify and hold harmless the Lessor, the
Administrative Agent, and the Lease Participants with respect thereto in the
manner provided in the Lease.

Section 11.18  Facility.  Upon payment by the Company of the Purchase
Price Value in connection with its purchase of all of the Facility in
accordance with the Lease, or the repayment in full of all amounts then due and
owing by the Company under the Operative Documents, and promptly upon the
request of the Company, the Lessor shall convey the Facility to the Company or
its designee, free and clear of any Lien or other adverse interest of any kind
created by the Lessor or any Person claiming by, through or under the Lessor,
including, without limitation, the Lessor and the Lease Participants (except as
consented to by the Company).

Section 11.19  Funding
Parties.  No recourse under any
obligation, covenant or agreement of any Funding Party contained in this
Agreement, any Operative Document or any agreement or document executed in
connection herewith or therewith or the transactions contemplated hereby or
thereby shall be had against any shareholder, employee, officer, director,
affiliate or incorporator of the Funding Parties.  The obligations, covenants and agreements of
the Funding Parties under any of the foregoing agreements and documents are
solely the corporate obligations of the Funding Parties, and the Lessor (with
respect to the Lease Participants) and the Company and the Lease Participants
(with respect to the Lessor) agree to look solely to the Lease Participants or
the Lessor, as applicable, for payment of all obligations, including, without
limitation, any fees or other amounts due hereunder or thereunder, and claims
arising out of or relating to any of the foregoing agreements and documents.  The provisions of this Section shall survive
the termination of this Agreement.

Section 11.20  Waiver
of Jury Trial.  EACH OF THE PARTIES HERETO WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION
OR PROCEEDING TO ENFORCE OR TO DEFEND ANY RIGHTS UNDER THIS AGREEMENT OR ANY
OTHER OPERATIVE DOCUMENT OR UNDER AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT
DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR
THEREWITH OR ARISING FROM ANY RELATIONSHIP EXISTING IN CONNECTION WITH THIS
AGREEMENT OR ANY OTHER OPERATIVE DOCUMENT, AND AGREES THAT ANY SUCH ACTION OR
PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

Section 11.21  Certain
Acknowledgments of the Parties.  Each
of the parties hereto hereby acknowledges and agrees that (i) this Agreement
and the other Operative Documents have not been negotiated by the Lessor or any
of the Lease Participants in the State of Alabama,

 60
 

(ii) the closing of the transactions contemplated by
this Agreement and the other Operative Documents shall take place at the office
of the Lessor in Charlotte, North Carolina, or at the office of its counsel in
Atlanta, GA, and (iii) in addition to the satisfaction of other conditions set
forth in Section 6.01 of this Agreement, this Agreement shall not be effective
until the Lessor has received at its office in Charlotte, North Carolina the
documents described in the first sentence of Section 6.01.

Section 11.22  Amendment
and Restatement.  This Agreement
constitutes an amendment and restatement of the Original Investment Agreement,
the terms of which survive, but only as amended and restated herein.

 61
 

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

	
  The Company:

  	
   

  	
  PROTECTIVE LIFE INSURANCE 

  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Principal Place of Business and Chief Executive
  Office:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2801 Highway 280 South 

  Birmingham, Alabama 35223 

  Attention: Lance Black 

  Telecopier: 205-268-3642

  	
   

  	
   

  
							

 

 62
 

 

	
  Lessor:

  	
   

  	
  WACHOVIA DEVELOPMENT 

  CORPORATION

  
	
   

  	
   

  	
   

  
	
  A Percentage
  Lessor Investment:

  	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
  $0.00

  	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Title: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  B Percentage
  Lessor Investment 

  attributable to the Non-Recourse Amount:

  $3,750,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  B Percentage
  Lessor Investment 

  in excess of the Non-Recourse Amount: 

  	
   

  	
   

  	
   

  
	
  $0.00

  	
   

  	
  Applicable Funding Office and Address for 

  Notices:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Wachovia Development Corporation

  	
   

  
	
   

  	
   

  	
  c/o Wachovia Bank, National Association

  	
   

  
	
   

  	
   

  	
  301 S. College Street

  	
   

  
	
   

  	
   

  	
  MC 0179

  	
   

  
	
   

  	
   

  	
  Charlotte, North Carolina 28288

  	
   

  
	
   

  	
   

  	
  Attention: Gabrielle Braverman

  	
   

  
	
   

  	
   

  	
  Telecopier No.: 704-715-0065

  	
   

  
	
   

  	
   

  	
  Telephone No. 704-383-1967

  	
   

  
							

 

 63

	
  Administrative Agent:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  WACHOVIA BANK, NATIONAL 

  ASSOCIATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Address for Notices:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Wachovia Bank, National Association

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  301 S. College Street

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  MC 0179

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Charlotte, North Carolina 28288

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Attention: Gabrielle Braverman

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Telecopier No.: 704-715-0065

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Telephone No. 704-383-1967

  

 

 64
 

 

	
  Lease Participant:

  	
   

  	
  WACHOVIA BANK, NATIONAL

  
	
   

  	
   

  	
  ASSOCIATION

  
	
   

  	
   

  	
   

  
	
  A Percentage Lessor Investment:

  	
   

  	
  By:

  	
   

  
	
  $0.00

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
  B Percentage Lessor Investment

  	
   

  	
   

  
	
  attributable to the Non-Recourse Amount:

  	
   

  	
   

  
	
  $9,825,000.00

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  B Percentage Lessor Investment

  	
   

  	
   

  
	
  in excess of the Non-Recourse Amount:

  	
   

  	
   

  
	
  $11,425,000.00

  	
   

  	
  Applicable Funding Office and Address for

  
	
   

  	
   

  	
  Notices:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Wachovia Bank, National Association

  
	
   

  	
   

  	
  301 S. College Street

  
	
   

  	
   

  	
  MC 0179

  
	
   

  	
   

  	
  Charlotte, North Carolina 28288

  
	
   

  	
   

  	
  Attention: Gabrielle Braverman

  
	
   

  	
   

  	
  Telecopier No.: 704-715-0065

  
	
   

  	
   

  	
  Telephone No. 704-383-1967

  

 

 65
 

 

	
  Lease Participant:

  	
   

  	
  SUNTRUST BANK

  
	
   

  	
   

  	
   

  
	
  A Percentage Lessor Investment:

  	
   

  	
  By:

  	
   

  
	
  $25,000,000.00

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
  B Percentage Lessor Investment

  	
   

  	
   

  
	
  attributable to the Non-Recourse Amount:

  	
   

  	
   

  
	
  $0.00

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  B Percentage Lessor Investment

  	
   

  	
   

  
	
  in excess of the Non-Recourse Amount:

  	
   

  	
   

  
	
  $0.00

  	
   

  	
  Applicable Funding Office and Address for

  
	
   

  	
   

  	
  Notices:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SunTrust Bank

  
	
   

  	
   

  	
  303 Peachtree Street, NE – 3rd Floor

  
	
   

  	
   

  	
  Atlanta, Georgia 30308

  
	
   

  	
   

  	
  Attention: E. Donald Besch, Jr.

  
	
   

  	
   

  	
  Telecopier No.: 404-588-8833

  
	
   

  	
   

  	
  Telephone No. 404-575-2649

  

 

 66
 

 

	
  Lease Participant:

  	
   

  	
  CITIBANK, N.A.

  
	
   

  	
   

  	
   

  
	
  A Percentage Lessor Investment:

  	
   

  	
  By:

  	
   

  
	
  $25,000,000.00

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
  B Percentage Lessor Investment

  	
   

  	
   

  
	
  attributable to the Non-Recourse Amount:

  	
   

  	
   

  
	
  $0.00

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  B Percentage Lessor Investment

  	
   

  	
   

  
	
  in excess of the Non-Recourse Amount:

  	
   

  	
   

  
	
  $0.00

  	
   

  	
  Applicable Funding Office and Address for

  
	
   

  	
   

  	
  Notices:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Citibank, N.A.

  
	
   

  	
   

  	
  388 Greenwich Street

  
	
   

  	
   

  	
  New York, NY  10013

  
	
   

  	
   

  	
  Attention: Catherine Morrow

  
	
   

  	
   

  	
  Telecopier No.: 646-291-1723

  
	
   

  	
   

  	
  Telephone No. 212-816-3863

  

 

 67
 

EXHIBIT
A

DESCRIPTION
OF SITE

ANNEX
PARCEL

Acreage situated in the
SW 1/4 of the SE 1/4 and the SE 1/4 of the SW 1/4 of Section 8, Township 18
South, Range 2 West and the NW 1/4 of the NE 1/4 of Section 17, Township 18
South, Range 2 West, Jefferson County, Alabama, being more particularly
described as follows:

Commence at the Northwesterly corner of Lot 10-A,
Parkway Subdivision, as recorded in Map Book 88, Page 38 in the office of the
Judge of Probate of Jefferson County, Alabama, said point lying on the
Southwesterly Right-of-Way line of Cahaba Road (Old U.S. Highway No. 280), said
point also lying on the East line of the SW 1/4 of the SE 1/4 of Section 8, Township
18 South, Range 2 West; thence run in a Southerly direction along the Westerly
line of said Lot 10-A and the East line of said 1/4-1/4 section a distance of
291.49 feet to a point; thence 55o35’25” to the right in a Southwesterly
direction a distance of 328.53 feet to a point; thence 87o34’08” to the right
in a Northwesterly direction a distance of 2.20 feet to a point; thence 52o23’58”
to the left in a Westerly direction a distance of 482.90 feet to a point;
thence 83o11’36” to the left in a Southwesterly direction a distance of 16.97
feet to a point; thence 83o16’34” to the right in a Westerly direction a
distance of 65.00 feet to a point; thence 90o00’44” to the left in a Southerly
direction a distance of 20.26 feet to a point; thence 31o54’03” to the right in
a Southwesterly direction a distance of 67.66 feet to a point; thence 90o00’ to
the right in a Northwesterly direction a distance of 122.74 feet to the POINT
OF BEGINNING of the parcel herein described, said point lying on the face of
the newly constructed Building Annex No. 3; thence 2o18’03” to the right in a
Northwesterly direction along the face of said building a distance of 39.90
feet to a point; thence 90o00’ to the right in a Northeasterly direction along
the face of said building a distance of 5.33 feet to a point; thence 90o00’ to
the left in a Northwesterly direction along the face of said building a
distance of 254.97 feet to a point; thence 90o00’ to the right in a
Northeasterly direction along the face of said building a distance of 21.25
feet to a point on the face of an existing Parking Deck; thence 90o00’ to the
left in a Northwesterly direction along the face of said parking deck a
distance of 120.80 feet to a point on the face of existing Building 1; thence
90o00’ to the left in a Southwesterly direction along the face of said building
a distance of 19.09 feet to a point; thence 90o00’ to the right in a
Northwesterly direction along the face of said building a distance of 10.89
feet to a point; thence 90o00’ to the left in a Southwesterly direction along
the face of said building and along the face of the newly constructed Building
Annex No. 3 a distance of 57.38 feet to a point; thence 90o00’ to the left in a
Southeasterly direction along the face of said Building Annex No. 3 a distance
of 64.38 feet to a point; thence 90o00’ to the right in a Southwesterly
direction along the face of said building a distance of 73.55 feet to a point;
thence 90o00’ to the left in a Southeasterly direction along the face of said
building a distance of 2.54 feet to a point; thence 90o00’ to the right in a
Southwesterly direction a distance of 6.00 feet to a point; thence 90o00’ to
the left in a Southeasterly direction a distance of 27.45 feet to a point;
thence 90o00’ to the left in a Northeasterly direction a distance of 6.00 feet
to a point on the face of the newly constructed Building Annex No. 3; thence
90o00’ to the right in a Southeasterly direction along the face of said
building a distance of 281.48 feet to a point; thence 90o00’ to the

 68
 

right in a Southwesterly direction a distance of 4.30
feet to a point; thence 90o00’ to the left in a Southeasterly direction a
distance of 9.17 feet to a point; thence 90o00’ to the left in a Northeasterly
direction a distance of 4.30 feet to a point on the face of the newly
constructed Building Annex No. 3; thence 90o00’ to the right in a Southeasterly
direction along the face of said building a distance of 1.67 feet to a point;
thence 90o00’ to the left in a Northeasterly direction along the face of said
building a distance of 27.92 feet to a point; thence 90o00’ to the right in a
Southeasterly direction along the face of said building a distance of 39.87
feet to a point; thence 90o00’ to the left in a Northeasterly direction along
the face of said building a distance of 95.52 feet to the Point of Beginning.

Containing 51,664
square feet or 1.186 acres.

TOGETHER WITH, a non exclusive easement for pedestrian
and vehicular ingress and egress to, upon, over and across the Protective Road,
Protective Driveway and Orchid Driveway (as the same are described in the
certain Reciprocal Easement Agreement by and between Orchid, L.L.C. and
Protective Life Insurance Company dated as of January 19, 1996, and recorded as
Instrument #9601/6971 in the Probate Office of Jefferson County, Alabama, as
amended and restated by Amended and Restated Reciprocal Easement Agreement
dated as of March 16, 2004, and recorded as Instrument #200405/9866, in said
Probate Office),  as the same may be modified
or relocated.

TOGETHER WITH, (a) a non-exclusive easement for the
purpose of pedestrian and vehicular ingress and egress to, on, over and across
the Common Driveway; (b) an easement along the Common Access Driveway for the
drainage of storm water; and, (c) an easement along the Common Access Driveway
and over the Company Tract for installing, operating, and maintaining utility
facilities (as the same are described in that certain Reciprocal Easement
Agreement by and between Protective Life Insurance Company and Wachovia Capital
Investments, Inc. dated as of the 1st day of February, 2000, and recorded as
Instrument #200004/0950, in the Probate Office of Jefferson County, Alabama, as
amended by First Amendment to Reciprocal Easement Agreement dated as of
September 1, 2004 and recorded as Instrument #200413/6654, in said Probate
Office).

 69
 

PARKING
DECK PARCEL

Acreage situated in the SW 1/4 of the SE 1/4 of
Section 8, Township 18 South, Range 2 West, Jefferson County, Alabama, being
more particularly described as follows:

Commence at the Northwesterly corner of Lot 10-A,
Parkway Subdivision, as recorded in Map Book 88, Page 38 in the office of the
Judge of Probate of Jefferson County, Alabama, said point lying on the
Southwesterly Right-of-Way line of Cahaba Road (Old U.S. Highway No. 280), said
point also lying on the East line of the SW 1/4 of the SE 1/4 of Section 8,
Township 18 South, Range 2 West; thence run in a Southerly direction along the
Westerly line of said Lot 10-A and the East line of said 1/4-1/4 section a
distance of 291.49 feet to a point; thence 55o35’25” to the right in a
Southwesterly direction a distance of 328.53 feet to a point; thence 87o34’08”
to the right in a Northwesterly direction a distance of 2.20 feet to a point;
thence 52o23’58” to the left in a Westerly direction a distance of 310.55 feet
to a point; thence 90o00’ to the right in a Northerly direction a distance of
111.28 feet to a point on the face of the newly constructed parking deck, said
point being the POINT OF BEGINNING of the parcel herein described; thence 34o26’54’
to the right in a Northeasterly direction along the face of said parking deck a
distance of 200.87 feet to a point; thence 90o00’ to the left in a
Northwesterly direction along the face of said parking deck a distance of 3.99
feet to a point; thence 90o00’ to the right in a Northeasterly direction along
the face of said parking deck a distance of 13.22 feet to a point; thence 90o00’
to the left in a Northwesterly direction along the face of said parking deck a
distance of 12.98 feet to a point; thence 90o00’ to the right in a
Northeasterly direction along the face of said parking deck a distance of 4.00
feet to a point; thence 90o00’ to the left in a Northwesterly direction along
the face of said parking deck a distance of 274.49 feet to a point; thence
90o00’ to the left in a Southwesterly direction along the face of said parking
deck a distance of 4.06 feet to a point; thence 90o00’ to the right in a
Northwesterly direction along the face of said parking deck a distance of 13.00
feet to a point; thence 90o00’ to the left in a Southwesterly direction along
the face of said parking deck a distance of 13.02 feet to a point; thence 90o00’
to the right in a Northwesterly direction along the face of said parking deck a
distance of 3.89 feet to a point; thence 90o00’ to the left in a Southwesterly
direction along the face of said parking deck a distance of 200.93 feet to a
point; thence 90o00’ to the left in a Southeasterly direction along the face of
said parking deck a distance of 3.91 feet to a point; thence 90o00’ to the
right in a Southwesterly direction along the face of said parking deck and its
extension a distance of 16.06 feet to a point along the roof overhang line of
the newly constructed pedestrian bridge; thence 90o00’ to the right in a
Northwesterly direction along said roof overhang line a distance of 95.00 feet
to a point on the face of the existing parking deck; thence 90o00’ to the left
in a Southwesterly direction along the face of the existing parking deck a
distance of 15.94 feet to a point along the roof overhang line of the newly
constructed pedestrian bridge; thence 90o00’ to the left in a Southeasterly
direction along said roof overhang line a distance of 107.90 feet to a point on
the face of the newly constructed parking deck; thence 90o00’ to the right in a
Southwesterly direction along the face of said parking deck a distance of 6.79
feet to a point; thence 90o00’ to the left in a Southeasterly direction along
the face of said parking deck a distance of 28.64 feet to a point; thence 90o00’
to the left in a Northeasterly direction along the face of said parking deck a
distance of 21.62 feet to a point; thence 90o00’ to the right in a
Southeasterly direction along the face of said parking deck a distance of
245.90 feet to a point; thence 90o00’ to the left in a Northeasterly direction
along the face of said parking

 70
 

deck a distance of 3.90 feet to a point; thence 90o00’
to the right in a Southeasterly direction along the face of said parking deck a
distance of 13.02 feet to a point; thence 90o00’ to the left in a Northeasterly
direction along the face of said parking deck a distance of 13.19 feet to a
point; thence 90o00’ to the right in a Southeasterly direction along the face
of said parking deck a distance of 3.98 feet to the Point of Beginning.

Containing 74,417 square feet or 1.708 acres.

TOGETHER WITH, a non exclusive easement for pedestrian
and vehicular ingress and egress to, upon, over and across the Protective Road,
Protective Driveway and Orchid Driveway (as the same are described in the
certain Reciprocal Easement Agreement by and between Orchid, L.L.C. and
Protective Life Insurance Company dated as of January 19, 1996, and recorded as
Instrument #9601/6971 in the Probate Office of Jefferson County, Alabama, as
amended and restated by Amended and Restated Reciprocal Easement Agreement
dated as of March 16, 2004, and recorded as Instrument #200405/9866, in said
Probate Office),  as the same may be
modified or relocated.

TOGETHER WITH, (a) a non-exclusive easement for the
purpose of pedestrian and vehicular ingress and egress to, on, over and across
the Common Driveway; (b) an easement along the Common Access Driveway for the
drainage of storm water; and, (c) an easement along the Common Access Driveway
and over the Company Tract for installing, operating, and maintaining utility
facilities (as the same are described in that certain Reciprocal Easement
Agreement by and between Protective Life Insurance Company and Wachovia Capital
Investments, Inc. dated as of the 1st day of February, 2000, and recorded as
Instrument #200004/0950, in the Probate Office of Jefferson County, Alabama, as
amended by First Amendment to Reciprocal Easement Agreement dated as of
September 1, 2004 and recorded as Instrument #200413/6654, in said Probate Office).

 71
 

EXHIBIT B

OWNERSHIP
CERTIFICATE

EFFECTIVE DATE OF OWNERSHIP CERTIFICATE:                                         ,                  

THIS OWNERSHIP
CERTIFICATE WAS ISSUED PURSUANT TO SECTION 2.01(b), SECTION 3.02 OR SECTION
11.06 OF THE AMENDED AND RESTATED INVESTMENT AND PARTICIPATION AGREEMENT DATED
AS OF JANUARY 11, 2007 (AS AMENDED, RESTATED OR SUPPLEMENTED OR OTHERWISE
MODIFIED FROM TIME TO TIME, THE “INVESTMENT AGREEMENT”), AMONG PROTECTIVE LIFE
INSURANCE COMPANY, AS THE COMPANY, WACHOVIA DEVELOPMENT CORPORATION, AS THE
LESSOR, WACHOVIA BANK, NATIONAL ASSOCIATION, AS ADMINISTRATIVE AGENT, AND THE
LEASE PARTICIPANTS PARTIES THERETO FROM TIME TO TIME, AND WAS ISSUED BY THE
LESSOR THEREUNDER.  EACH OWNERSHIP CERTIFICATE
WHICH IS ISSUED BY THE LESSOR SUPERSEDES AND REPLACES ALL PRIOR OWNERSHIP
CERTIFICATES, AND REFERENCE SHOULD BE MADE TO THE BOOKS AND RECORDS OF THE
LESSOR MAINTAINED WITH THE ADMINISTRATIVE AGENT AT 301 S. COLLEGE STREET, MC
0174, CHARLOTTE, NORTH CAROLINA 28288, ATTENTION:  GABRIELLE BRAVERMAN, TELEPHONE:  704-383-1967, FACSIMILE:  704-715-0065, FOR A DETERMINATION AS TO THE
OWNERSHIP CERTIFICATE CURRENTLY IN EFFECT AT ANY TIME.  CAPITALIZED TERMS USED HEREIN WITHOUT
DEFINITION HAVE THE MEANINGS SET FORTH IN SCHEDULE 1.02 TO THE INVESTMENT
AGREEMENT.

I.              TOTAL
LESSOR INVESTMENTS:  $75,000,000:

II.            A
PERCENTAGE OWNERSHIP INTERESTS AND PERCENTAGE SHARES:

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Percentage of A

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Percentage Ownership

  	
   

  
	
   

  	
   

  	
  A Percentage

  	
   

  	
   

  	
   

  	
  Interest to all Lessor

  	
   

  
	
  Funding Party

  	
   

  	
  Ownership Interest

  	
   

  	
  A Percentage Share

  	
   

  	
  Investments

  	
   

  
	
  Lessor

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [Lease Participant]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [Lease Participant]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  . . .

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [Lease Participant]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL

  	
   

  	
  $

  	
  [    ]

  	
   

  	
  [    ]%

  	
   

  	
  [    ]%

  	
   

  
									

 

 72
 

III.           B PERCENTAGE OWNERSHIP INTERESTS AND
PERCENTAGE SHARES:

	
   

  	
   

  	
   

  	
   

  	
  B Percentage

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  B Percentage

  	
   

  	
  Ownership Interest

  	
   

  	
   

  	
   

  	
  Percentage of B

  	
   

  
	
   

  	
   

  	
  Ownership Interest

  	
   

  	
  In Excess of the

  	
   

  	
   

  	
   

  	
  Percentage

  	
   

  
	
   

  	
   

  	
  Attributable to the

  	
   

  	
  Non-Recourse

  	
   

  	
   

  	
   

  	
  Ownership

  	
   

  
	
   

  	
   

  	
  Non-Recourse

  	
   

  	
  Amount (and

  	
   

  	
   

  	
   

  	
  Interest to all

  	
   

  
	
   

  	
   

  	
  Amount (and Related

  	
   

  	
  Related B

  	
   

  	
  Overall B

  	
   

  	
  Lessor

  	
   

  
	
  Funding Party

  	
   

  	
  B Percentage Share)

  	
   

  	
  Percentage Share)

  	
   

  	
  Percentage Share

  	
   

  	
  Investments

  	
   

  
	
  Lessor

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [Lease Participant]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [Lease Participant]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  . . .

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [Lease Participant]

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL

  	
   

  	
  $

  	
  [    ]

  	
   

  	
  $

  	
  [    ]

  	
   

  	
  [    ]%

  	
   

  	
  [    ]%

  	
   

  
												

 

	
  

  	
  WACHOVIA DEVELOPMENT

  
	
   

  	
  CORPORATION, as Lessor, by WACHOVIA

  
	
   

  	
  BANK, NATIONAL ASSOCIATION, as

  
	
   

  	
  Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 73
 

EXHIBIT
C

FORM OF
ASSIGNMENT AND ACCEPTANCE

ASSIGNMENT AND ACCEPTANCE

Dated                ,
         

Reference is made to the
Amended and Restated Investment and Participation Agreement, dated as of
January 11, 2007 (as the same may be amended, supplemented or otherwise
modified from time to time, the “Investment Agreement”) among Protective
Life Insurance Company, a Tennessee corporation (the “Company”), the
Lease Participants parties thereto (the “Lease Participant”), Wachovia
Bank, National Association, as Administrative Agent (the “Administrative Agent”),
and Wachovia Development Corporation, as Lessor (the “Lessor”).  Terms defined in the Investment Agreement are
used herein with the same meaning.

                                                                
(the “Assignor”) and                                                                                   
(the “Assignee”) agree as follows:

The Assignor hereby sells
and assigns to the Assignee, and the Assignee hereby purchases and assumes from
the Assignor, the A Percentage Ownership Interest and B Percentage Ownership
Interest, as applicable, in and to all of the Assignor’s rights and obligations
under the Investment Agreement as of the date hereof which represents the A
Percentage Share and B Percentage Share, as applicable, specified on Schedule 1
of all outstanding rights and obligations under the Investment Agreement,
including without limitation, such A Percentage Ownership Interest and B
Percentage Ownership Interest, as applicable. 
After giving effect to such sale and assignment, Assignor’s A Percentage
Ownership Interest and B Percentage Ownership Interest will be as set forth in
Section 2 of Schedule 1.

The Assignor (i)
represents and warrants that it is the legal and beneficial owner of the
Ownership Interest being assigned by it hereunder and that such interest is
free and clear of any adverse claim; (ii) makes no representation or warranty
and assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with the Investment Agreement or any
other Operative Document or the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Investment Agreement or any other
Operative Document or other instrument or document furnished pursuant thereto;
and (iii) makes no representation or warranty and assumes no responsibility
with respect to the financial condition of the Guarantor or the Company, or the
performance or observance by the Guarantor or the Company of any of their
obligations under the Investment Agreement or any other Operative Document or
other instrument or document furnished pursuant thereto.

The Assignee (i) confirms
that it has received a copy of the Investment Agreement and each other
Operative Document, together with copies of the financial statements referred
to in Section 8.01 of the Investment Agreement and such other documents and
information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment and Acceptance; (ii) agrees that it
will, independently and without reliance upon the Lessor, the

 74
 

Assignor or any other Lease Participant and based on
such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
the Investment Agreement or any other Operative Document; (iii) confirms that
it is an Eligible Assignee; (iv) appoints and authorizes the Lessor as its
agent to take such action as agent on its behalf and to exercise such powers
under the Investment Agreement and the other Operative Documents as are
delegated to the Lessor by the terms thereof, together with such powers as are
reasonably incidental thereto; (v) assumes the Lease Participant Commitment of
the Assignor to the extent of the Ownership Interest assigned to it pursuant
hereto and agrees that it will perform in accordance with their terms all of
the obligations which by the terms of the Investment Agreement are required to
be performed by it as a Lease Participant; [and] (vi) specifies as its address
for notices the address set forth beneath its name on the signatures pages
hereof [and (vii) attaches the forms prescribed by the Internal Revenue Service
of the United States certifying as to the Assignee’s status for purposes of
determining exemption from United States withholding taxes with respect to all
payments to be made to the Assignee under the Investment Agreement, or such
other documents as are necessary to indicate that all such payments are subject
to such rates at a rate reduced by an applicable tax treaty].(1)

Following the execution
of this Assignment and Acceptance by the Assignor and the Assignee, it will be
delivered to the Administrative Agent (on Lessor’s behalf) for the consent by
the Lessor and recording by the Administrative Agent.  The effective date of this Assignment and
Acceptance shall be the date of consent hereto by the Lessor, unless otherwise
specified on Schedule 1 hereto (the “Effective Date”).  If the Lessor refuses to consent to this
Assignment and Acceptance (which it has the right to do, in its sole
discretion), this Assignment and Acceptance shall be null and void.

Upon such consent hereto
and recording by the Lessor, as of the Effective Date, (i) the Assignee shall
be a party to the Investment Agreement as an A Percentage Lease Participant
and/or B Percentage Lease Participant, as applicable, and, to the extent
provided in this Assignment and Acceptance, have the rights and obligations of
an A Percentage Lease Participant and/or B Percentage Lease Participant
thereunder and under the other Operative Documents, and (ii) the Assignor
shall, to the extent provided in this Assignment and Acceptance, relinquish its
rights and obligations and be released from its Ownership Interests under the
Investment Agreement and the other Operative Documents.

Upon such consent and
recording by the Lessor, from and after the Effective Date, the Lessor (or the
Administrative Agent on behalf of the Lessor) shall make all payments under the
Investment Agreement in respect of the Ownership Interest assigned hereby
(including, without limitation, all payments of Rent, principal and Yield with
respect thereto) to the Assignee.  The
Assignor and Assignee shall make all appropriate adjustments in payments under
the Investment Agreement for periods prior to the Effective Date directly
between themselves.

(1) If the Assignee is
organized under the laws of a jurisdiction outside the United States.

 75
 

THIS ASSIGNMENT AND ACCEPTANCE SHALL BE GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

IN WITNESS WHEREOF, the
parties hereto have caused this Assignment and Acceptance to be executed by
their respective officers thereunto duly authorized, as of the date first above
written, such execution being made on Schedule 1 hereto.

 

	
  Assignor:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
  Assignee:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
  Consented to:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Wachovia Development Corporation, as Lessor

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Protective Life Insurance Company, as the Company

  	
   

  
	
  [If required by Investment Agreement]

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
					

 

 76
 

Schedule 1

to

Assignment and Acceptance

Dated                       ,
        

	
  Section 1.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  A Percentage Share assigned to Assignee:

  	
  [

  	
  ]%

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Overall B Percentage Share assigned

  	
   

  	
   

  	
   

  
	
  to Assignee:

  	
  [

  	
  ]%

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Aggregate Outstanding Principal Amount

  	
   

  	
   

  	
   

  
	
  of A Percentage Lessor Investments

  	
   

  	
   

  	
   

  
	
  assigned to Assignee:

  	
  $[

  	
   

  	
  ]

  
	
   

  	
   

  	
   

  	
   

  
	
  Aggregate Outstanding Principal Amount

  	
   

  	
   

  	
   

  
	
  of B Percentage Lessor Investments

  	
   

  	
   

  	
   

  
	
  assigned to Assignee:

  	
  $[

  	
   

  	
  ]

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 2.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  A Percentage Share retained by Assignor:

  	
  [

  	
  ]%

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Overall B Percentage Share retained

  	
   

  	
   

  	
   

  
	
  by Assignor:

  	
  [

  	
  ]%

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Aggregate Outstanding Principal Amount

  	
   

  	
   

  	
   

  
	
  of A Percentage Lessor Investments

  	
   

  	
   

  	
   

  
	
  retained by Assignor:

  	
  $[

  	
   

  	
  ]

  
	
   

  	
   

  	
   

  	
   

  
	
  Aggregate Outstanding Principal Amount

  	
   

  	
   

  	
   

  
	
  of B Percentage Lessor Investments

  	
   

  	
   

  	
   

  
	
  Attributable to the Non-Recourse Amount

  	
   

  	
   

  	
   

  
	
  retained by Assignor:

  	
  $[

  	
   

  	
  ]

  
	
   

  	
   

  	
   

  	
   

  
	
  Aggregate Outstanding Principal Amount

  	
   

  	
   

  	
   

  
	
  of B Percentage Lessor Investments

  	
   

  	
   

  	
   

  
	
  In Excess of the Non-Recourse Amount

  	
   

  	
   

  	
   

  
	
  retained by Assignor:

  	
  $[

  	
   

  	
  ]

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 3*.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Effective Date:

  	
  [

  	
   

  	
  ], 200[   ]

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

* This date should be no earlier than the date of
consent by the Lessor.

 77
 

EXHIBIT D

FORM OF LEGAL OPINION OF
COUNSEL

TO THE COMPANY AND THE
GUARANTOR

[PREPARED SEPARATELY]

 78

EXHIBIT
E 

FORM
OF COMPLIANCE CERTIFICATE 

Reference is made to the
Amended and Restated Investment and Participation Agreement dated as of January
11, 2007 (as amended, restated, supplemented, or otherwise modified from time
to time, the “Investment Agreement”) by and among Protective Life
Insurance Company, as the Company, the Lease Participants from time to time
parties thereto, Wachovia Bank, National Association, as Administrative Agent,
and Wachovia Development Corporation, as Lessor.  Capitalized terms used herein shall have the
meanings ascribed thereto in the Investment Agreement; all amounts shown
herein, unless expressly set forth to the contrary, shall be without
duplication. 

Pursuant to Section
8.01(iii) of the Investment Agreement,                         ,
the duly authorized                     
of the Guarantor, hereby (i) certifies to the Lessor and the Lease Participants
that the information contained in Schedule 1 attached hereto is true, accurate
and complete as of                ,        ,
and that, to the best of our knowledge, no Default is in existence on and as of
the date hereof, (ii) restates and reaffirms that the representations and
warranties contained in Article VII of the Investment Agreement are true on and
as of the date hereof as though restated on and as of this date (except to the
extent any such representation or warranty is expressly made as of a prior
date) and (iii) certifies that the Debt Rating as of the date of this
Compliance Certificate [has not changed from the prior Performance Pricing
Determination Date] [has changed to          
by Moody’s and         by S&P  and the Applicable Margin in effect as a
result thereof is      %] . 

	
  

  	
  PROTECTIVE LIFE CORPORATION,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   Its:

  

 

 79
 

SCHEDULE
I TO COMPLIANCE CERTIFICATE 

Schedule of Compliance as
of                         

with provisions of 8.04, 8.19, 8.24, 8.25, 8.26 and 8.27 of the Agreement

	
  1.

  	
  Section 8.04 – Sales of Assets

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  A. 

  	
  Aggregate amount of assets sold during fiscal quarter
  just ended 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B. 

  	
  Aggregate amount of assets sold during 3 prior
  fiscal quarters 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  C.

  	
  Sum of A and B

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  D.

  	
  Consolidated Total Assets

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  E.

  	
  15% of D

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Limitation: C may not exceed E

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Complies

  	
  Does Not Comply

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
  Section 8.19 – Liens on Properties other than
  the Facility

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  A. 

  	
  Amount secured by Liens not permitted by items (a)
  through (l) of clause (ii) of the definition of Permitted Liens 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B. 

  	
  Adjusted Consolidated Net Worth (from line C of
  Paragraph 3 below) 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  C. 

  	
  15% of B

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Limitation: A may not exceed C

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Complies

  	
  Does Not Comply

  	
   

  
						

 

 80
 

 

	
  3.

  	
  Section 8.24 - Adjusted Consolidated Net Worth

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  A.

  	
  Consolidated Net Worth

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B. 

  	
  Adjustments, if any, for unrealized net gains and
  losses on assets held for sale pursuant to SFAS No. 115 and other accumulated
  comprehensive income pursuant to SFAS No. 133 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  C. 

  	
  Adjusted Consolidated Net Worth (A excluding B) 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  D.

  	
  $1,400,000,000

  	
  $

  	
  1,400,000,000

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  E. 

  	
  Cumulative Consolidated Net Income earned after
  December 31, 2003 (if positive) 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  F.

  	
  25% of E

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  G. 

  	
  Consolidated allowance for uncollectible amounts on
  investments 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  H.

  	
  D plus F minus G

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  I.

  	
  C minus H

  	
   

  
	
   

  	
   

  	
  (Must be greater than or equal to 0)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Complies

  	
  Does Not Comply

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  4. 

  	
  Section 8.25 - Ratio of Adjusted Consolidated
  Indebtedness to Consolidated Capitalization 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  A. 

  	
  Consolidated Indebtedness

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.     Borrowed money, obligations
  secured by liens and obligations evidenced by notes acceptances, and other
  instruments 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.     Deferred purchase of
  property or services

  	
   

  
						

 

 81
 

 

	
  

  	
   

  	
  3.     Capitalized Lease Obligations

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.     Synthetic Lease Obligations

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.     Letters of Credit

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6.     Guaranteed Obligations

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B.

  	
  Short-Term Indebtedness for advance fundings of
  guaranteed investment contracts, annuities and other similar insurance and investment
  products 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  C.

  	
  Adjusted Consolidated Indebtedness (A minus B)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  D.

  	
  Consolidated Capitalization

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.     Adjusted Consolidated Net Worth

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.     Adjusted Consolidated Indebtedness

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  3.     Sum of D.1 and D.2

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  E.

  	
  Ratio of C to D.3

  	
        :
  1.0

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  F.

  	
  Permitted Ratio

  	
  Less than

  
	
   

  	
   

  	
   

  	
  0.40 : 1.00

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Complies

  	
  Does Not Comply

  
	
   

  	
   

  	
   

  	
   

  
	
  5. 

  	
  Section 8.26 - Ratio of Unconsolidated Cash Inflow
  Available for Interest Expense to Adjusted Consolidated Interest Expense   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  A.

  	
  Unconsolidated Cash Inflow Available for Interest
  Expense (for most recent fiscal quarter) 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.

  	
  Interest and principal received by Guarantor from
  Subsidiaries during quarter 

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  i. Interest

  	
   

  
						

 

 82
 

 

	
  

  	
   

  	
   

  	
  ii. Principal

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.

  	
  Gross management fees received by Guarantor from
  Subsidiaries during quarter

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  3.

  	
  Guarantor’s operating and administrative expenses
  during quarter (excluding interest expense)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.

  	
  Net management fees received by Guarantor from
  Subsidiaries during quarter (2 minus 3)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.

  	
  Dividends available to be distributed by
  Subsidiaries to Guarantor during this year (see attached Exhibit A)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6.

  	
  A.5 divided by 4

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  7.

  	
  Other income (investment income - $             Miscellaneous - $

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  8.

  	
  Sum of A.1, A.4, A.6 and A.7

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B.

  	
  Consolidated Interest Expense

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  C.

  	
  Interest on Short-Term Indebtedness for advance
  fundings of guaranteed investment contracts, annuities and other similar
  insurance and investment products

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  D.

  	
  Adjusted Consolidated Interest Expense (B minus C)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  E.

  	
  Ratio of A.8 to D

  	
       :
  1.0

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  F.

  	
  Permitted Ratio

  	
  Greater
  than 2.00 : 1.00

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Complies 

  	
  Does Not Comply

  	
   

  
	
   

  	
   

  	
   

  	
   

  
						

 

 83
 

 

	
  6.

  	
  Section 8.27 - Company’s Total Adjusted Capital

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  A.

  	
  Company’s Total Adjusted
  Capital (See attached Exhibit B)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B.

  	
  Company’s Authorized
  Control Level Risk-Based Capital 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  C.

  	
  4.0 times B

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  D. 

  	
  A minus C (must
  be greater than or equal to 0) 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Complies

  	
  Does Not Comply

  
					

 

 84
 

EXHIBIT
A

	
   

  	
   

  	
  [Quarter end date]

  
	
   

  	
   

  	
   

  
	
  Dividends Available to be Distributed

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Protective Life Insurance Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Prior Year Stat Net Gain from Operations

  	
  $

  	
   

  
	
   

  	
   

  	
   

  
	
  Prior Year End 10% of Policyholder Surplus

  	
  $

  	
   

  
	
   

  	
   

  	
   

  
	
  Greater of Above

  	
  $

  	
   

  
	
   

  	
   

  	
   

  
	
  Year-to-Date Dividends Actually Distributed

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Protective Life Insurance Company

  	
  $

  	
   

  
	
   

  	
   

  	
   

  
	
  Protective Life and Annuity Insurance Company

  	
  $

  	
   

  
	
   

  	
   

  	
   

  
	
  Investment Distributors Advisory Services, Inc.

  	
  $

  	
   

  
	
   

  	
   

  	
   

  
	
  National Health Care Systems, Inc.

  	
  $

  	
   

  
	
   

  	
   

  	
   

  
	
  United Dental Care Inc.

  	
  $

  	
   

  

 

 85
 

EXHIBIT
B 

[VERIFY
LIST OF COMPANIES]

	
  

  	
   

  	
  [Quarter
  end date]

  
	
   

  	
   

  	
   

  
	
  Total Adjusted Capital

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Protective Life Insurance Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and
  Surplus

  	
  $

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  American Foundation Life Insurance Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and
  Surplus

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Empire General Life Assurance Corporation

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and
  Surplus

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Wisconsin National Life Insurance Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and
  Surplus

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Protective Life Insurance Company of Kentucky

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and
  Surplus

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital Investors Life Insurance Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and Surplus

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Western Diversified

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and
  Surplus

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  

 

 86
 

 

	
  West Coast Life Insurance Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and
  Surplus

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Protective Life Insurance Co of Ohio

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Capital and
  Surplus

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Asset Valuation
  Reserve

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Eliminate life subsidiary capital included in
  Company capital

  	
  $

  	
   

  

 

 87
 

EXHIBIT
F

FORM
OF AMENDED AND RESTATED GUARANTY

[DELIVERED
SEPARATELY]

 88
 

EXHIBIT
G

FORM
OF LESSOR CONFIRMATION LETTER

[DELIVERED
SEPARATELY]

 89

SCHEDULE 1.02

Defined Terms

The following terms shall have the following meanings
when used in the “Investment Agreement”, the “Lease”, the “Guaranty,” and all
other “Operative Documents” (all terms defined in the singular to have the same
meanings when used in the plural and vice versa):

“A Percentage Lease Participant”:  any Person who is listed on the signature
pages of the Investment Agreement as having an A Percentage Lessor Investment
greater than $0.00, or who from time to time becomes an A Percentage Lease
Participant pursuant to an Assignment and Acceptance by accepting assignment of
an A Percentage Lessor Investment greater than $0.00; collectively, the “A
Percentage Lease Participants.”

“A Percentage Lessor Investments”: as of the
Restatement Closing Date, that portion of the Lessor Investments in an amount
equal to 66.66667% of the Facility Cost, as such amount may be reduced from
time to time by payments of principal attributable to the A Percentage Lessor
Investments.

“A Percentage Ownership Interest”:  an undivided ownership interest, in an amount
equal to a given A Percentage Lease Participant’s A Percentage Share, in the
Lessor’s rights in the A Percentage Lessor Investments, and in all rights to
payments of Rent, Yield, Supplemental Rent (except fees payable pursuant to
Section 2.04(c) of the Investment Agreement) and other amounts payable with
respect thereto under the Agreement, the Lease and the other Operative
Documents, and with reference to the Lessor and each A Percentage Lease Participant,
its Ownership Interest in the A Percentage Lessor Investments, and such rights
to payment, after giving effect to the sale by the Lessor to, and the purchase
by such A Percentage Lease Participant of, an A Percentage Ownership Interest
pursuant to Section 2.01(b), or to the assignment by an A Percentage Lease
Participant pursuant to an Assignment and Acceptance, in each case as set forth
in the most recent Ownership Certificate. 
The title of the Lessor in and to the Facility shall be held in trust by
the Lessor for the A Percentage Lease Participants, to the extent of their
respective A Percentage Ownership Interests, subject to the Lease, and in the
event the Facility is sold (either to the Lessee or a third party, pursuant to
Section 15 of the Lease or upon the exercise by the Lessor of rights and
remedies pursuant to Section 26 of the Lease), the net sale proceeds thereof
also shall be held in trust by the Lessor for the A Percentage Lease
Participants, to the extent of their respective A Percentage Ownership
Interests.

“A Percentage Share”:  for Lessor and each A Percentage Lease
Participant, the percentage which its A Percentage Ownership Interest bears to
all of the A Percentage Ownership Interests.

“A Percentage Yield”:  all Yield accruing from time to time with
respect to the A Percentage Lessor Investments.

“Adjusted Consolidated Indebtedness”: (i)
Consolidated Indebtedness, less (ii) Short-Term Indebtedness for advance
fundings of guaranteed investment contracts, annuities and other similar insurance
and investment products.

 90
 

“Adjusted Consolidated Interest Expense”: for
any period of calculation, (i) Consolidated Interest Expense, less (ii)
interest on Short-Term Indebtedness for advance fundings of guaranteed
investment contracts, annuities and other similar insurance and investment
products.

“Adjusted Consolidated Net Worth”: at any date
of determination, Consolidated Net Worth excluding all unrealized net losses
and gains on assets held for sale pursuant to SFAS 115 and other accumulated
comprehensive income pursuant to SFAS No. 133, to the extent such unrealized
net losses and gains have been taken into account in determining Consolidated
Net Worth.

“Adjusted LIBO Rate”:  with respect to any Yield Period, a rate per
annum equal to the quotient obtained (rounded upwards, if necessary, to the
next higher 1/100th of 1%) by dividing (i) the applicable LIBO Rate for such
Yield Period by (ii) 1.00 minus the Eurodollar Reserve Percentage.

“Administrative Agent”:  Wachovia Bank, National Association, together
with its successors and assigns.

“Administrative Supplemental Rent”: as defined
in Section 2.04(c) of the Investment Agreement.

“Affiliate”: 
with respect to the Guarantor or the Company, as the case may be, (i)
any Person that, directly or indirectly, through one or more intermediaries,
controls the Guarantor or the Company, as the case may be (a “Controlling
Person”), (ii) any Person (other than the Guarantor, the Company or another
Subsidiary) which is controlled by or is under common control with a
Controlling Person, or (iii) any Person (other than a Subsidiary) of which the
Guarantor  owns, directly or
indirectly, 10% or more of the common stock or equivalent equity
interests.  As used herein, the term “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
ownership of voting securities, by contract or otherwise.

“Annual Statement”: the annual statutory
financial statement of any Insurance Subsidiary required to be filed with the
insurance commissioner (or similar authority) of its jurisdiction of
incorporation, which statement shall be in the form required by such Insurance
Subsidiary’s jurisdiction of incorporation or, if no specific form is so
required, in the form of financial statements recommended by the NAIC to be
used for filing annual statutory financial statements and shall contain the
type of information recommended by the NAIC to be disclosed therein, together
with all exhibits or schedules filed therewith.

“Anti-Terrorism Law”:  the USA Patriot Act or any other statute,
regulation, executive order, or other law pertaining to the prevention of
future acts of terrorism, in each case as such law may be amended from time to
time.

“Applicable Funding Office”:  for each Funding Party, the funding office of
such Funding Party (or an affiliate of such Funding Party) designated for any
Lessor Investments or Lease Participant Investments on the signature pages of
the Investment Agreement (or in an Assignment and Acceptance executed by a
Lease Participant pursuant to Section 11.06 of the

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Investment Agreement) or such other offices of such
Funding Party (or of an affiliate of such Funding Party) as such Funding Party
may from time to time specify to the Administrative Agent on behalf of Lessor
(if Lessor is not such Funding Party) and the Company as the office by which
its Lessor Investments or Lease Participant Investments, as applicable, are to
be made and maintained.

“Applicable Margin”:  with respect to the Lessor Investments and
Lease Participant Investments, as applicable, the applicable rate per annum
determined in accordance with the Pricing Schedule.

“Applicable Permit”:  any Permit that is or may be necessary to
own, renovate, construct, install, start-up, test, maintain, modify, expand,
remove, operate, lease or use all or any part of the Facility (including,
without limitation, the Site or any business conducted on or related to the
Facility or the Site) in accordance with the Operative Documents, and the
failure to obtain or maintain which would have a Material Adverse Effect.

“Approved Appraisal”:  any appraisal, ordered by the Lessor, but at
the Company’s cost, from an appraiser or appraisers reasonably acceptable to
the Lessor, Arranger (with respect to the Approved Appraisal required for the
Restatement Closing Date), and the Agent, which: (i) complies with Title XI of
the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as
amended, 12 U.S.C. 3331, et seq., and The Regulations and Statements of General
Policy on Appraisals promulgated by the Federal Deposit Insurance Corporation,
12 C.F.R. Part 32, as amended, (ii) is performed by a state-certified real
estate appraiser certified under the laws of any State, (iii) reflects the
Market Value of the Facility, and (iv) estimates the Market Value of the
Facility as of the expiration of the Basic Term.

“Arranger’s Supplemental Rent”: as defined in
Section 2.04(c) of the Investment Agreement.

“Assignment and Acceptance”:  an Assignment and Acceptance, in the form of Exhibit
C to the Investment Agreement entered into by a Lease Participant and an
Eligible Assignee.

“Authorized Officers”:  with respect to the Guarantor or the Company,
the officers whose signatures and incumbency shall have been certified to the
Lessor in a certificate certified by the Secretary or an Assistant Secretary of
the Guarantor or the Company, as applicable, 
in form and substance reasonably satisfactory to the Lessor that are
authorized to sign the Lease and the other Operative Documents to which the
Company is a party and, until replaced by another Authorized Officer duly
authorized for that purpose, to act as its respective representative for the
purposes of signing documents and giving notices and other communications in
connection with the Lease and the Operative Documents to which it is a party.

“B Percentage Lease Participant”:  any Person who is listed on the signature
pages to the Investment Agreement as having a B Percentage Lessor Investment
greater than $0.00, or who from time to time becomes a B Percentage Lease
Participant pursuant to an

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Assignment and Acceptance by accepting a B Percentage
Lessor Investment greater than $0.00; collectively, the “B Percentage Lease
Participants.”

“B Percentage Lessor Investments”:  as of the Restatement Closing Date, that
portion of the Lessor Investments in an amount equal to 33.33333% of the
Facility Cost, as such amount may be reduced from time to time by payments of
principal attributable to the B Percentage Lessor Investments.  As of the Restatement Closing Date, the B
Percentage Lessor Investments shall include all of the Non-Recourse Amount;
provided, however, that a portion of the B Percentage Lessor Investments may be
in excess of the Non-Recourse Amount.

“B Percentage Ownership Interest”:  an undivided ownership interest, in an amount
equal to a given B Percentage Lease Participant’s B Percentage Share, in the
Lessor’s rights in the B Percentage Lessor Investments, and in all rights to
payments of Rent, Yield, Supplement Rent (except fees payable pursuant to
Section 2.04(c) of the Investment Agreement) and other amounts payable with
respect thereto under the Agreement, the Lease and the other Operative
Documents, and with reference to the Lessor and each B Percentage Lease
Participant, its Ownership Interest in the B Percentage Lessor Investments, and
such rights to payment, after giving effect to the sale by the Lessor to, and
the purchase by such B Percentage Lease Participant of, a B Percentage
Ownership Interest pursuant to Section 2.01(b), or to the assignment by a B
Percentage Lease Participant pursuant to an Assignment and Acceptance, in each
case as set forth in the most recent Ownership Certificate.  The title of the Lessor in and to the Facility
shall be held in trust by the Lessor for the B Percentage Lease Participants,
to the extent of their respective B Percentage Ownership Interests, subject to
the Lease, and in the event the Facility is sold (either to the Lessee or a
third party, pursuant to Section 15 of the Lease or upon the exercise by the
Lessor of rights and remedies pursuant to Section 26 of the Lease), the net
sale proceeds thereof also shall be held in trust by the Lessor for the B
Percentage Lease Participants, to the extent of their respective B Percentage
Ownership Interests.

“B Percentage Share”:  as to Lessor or any given B Percentage Lease
Participant and based on the context in which such term is used:

(i)            the percentage by which such Person’s
B Percentage Lessor Investments in excess of the Non-Recourse Amount bear to
all other B Percentage Lessor Investments in excess of the Non-Recourse Amount
(with this subclause (i) being applicable in all instances where the allocation
of rights or interests among the various B Percentage Lease Participants
corresponds to that portion of the B Percentage Lessor Investments in excess of
the Non-Recourse Amount);

(ii)           the percentage by which such Person’s
B Percentage Lessor Investments attributable to the Non-Recourse Amount bear to
all other B Percentage Lessor Investments attributable to the Non-Recourse
Amount (with this subclause (ii) being applicable in all instances where the
allocation of rights or interests among the various B Percentage Lease
Participants corresponds to that portion of the B Percentage Lessor Investments
attributable to the Non-Recourse Amount); and

(iii)          the
percentage by which such Person’s B Percentage Lessor Investments bear to all B
Percentage Lessor Investments (with this subclause (iii) being applicable in
all

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instances where the allocation of rights or interests
among the various B Percentage Lease Participants does not correspond to any
portion of the applicable B Percentage Lessor Investments being attributable
to, or in excess of, the Non-Recourse Amount).

“B Percentage Yield”:  all Yield accruing from time to time with
respect to the B Percentage Lessor Investments.

“Banking
Authority”:  as defined in Section
5.02 of the Investment Agreement.

“Base Rate”: 
for any day, the rate per annum equal to the higher as of such day of
(i) the Prime Rate, and (ii) one-half of one percent above the Federal Funds
Rate.  For purposes of determining the
Base Rate for any day, changes in the Prime Rate shall be effective on the date
of each such change.

“Basic Rent”: 
with respect to any Rental Period during the Basic Term, for each day
during such Rental Period (whether or not a Business Day), the amount of all
Yield (excluding Yield on Supplemental Rent payable pursuant to Section 2.04)
accruing for such day pursuant to and in accordance with the Investment
Agreement.

“Basic Term”: 
with respect to the Lease, and subject to the terms and conditions set
forth therein and in the other Operative Documents, the period commencing on
the Lease Commencement Date and ending on the earlier to occur of (i) the
Option Date, (ii) the Cancellation Date, or (iii) the Scheduled Lease
Termination Date.

“Blocked Person”:  as defined in Section 7.01(t)(ii) of the
Investment Agreement.

“Business Day”: 
(i) for all purposes other than as set forth in clause (ii) below, any
day except Saturday, Sunday or other day on which commercial banks in
Charlotte, North Carolina, or Birmingham, Alabama, are authorized or required
by law or other government action to close, and (ii) with respect to all
notices and determinations in connection with, and payments of principal of and
interest on, the Lessor Investments, and notices and determinations in
connection with and payments of Basic Rent, any day that is a Business Day
described in clause (i) above and that is also a day for trading by and between
banks in the London interbank eurodollar market.

“Cancellation
Date”:  as defined in Section 15(b)
of the Lease.

“Cancellation Event”:  as defined in Section 15(b) of the Lease, and
shall include a Loss Event.

“Capitalized Lease Obligations”:  of a Person means the amount of the
obligations of such Person under leases that would be shown as a liability on a
balance sheet such Person prepared in accordance with GAAP, including
obligations under the Lease.

“Capital Stock”:  any nonredeemable capital stock, membership
interests or partnership interests of the Guarantor or any Consolidated
Subsidiary (to the extent issued to a Person other than the Guarantor), whether
common or preferred.

 94
 

“Casualty Occurrence”:  any of the following events in respect of the
Facility, (i) any material loss of the Facility or material loss of use thereof
which does not constitute a Loss Event, or (ii) the condemnation, confiscation
or seizure of, or requisition of title to or use of, any material part of the
Facility which action does not constitute a Loss Event.

“CERCLA”: 
the Comprehensive Environmental Response Compensation and Liability Act,
42 U.S.C. § 9601 et. seq., and its implementing regulations and amendments.

“CERCLIS”: 
the Comprehensive Environmental Response Compensation and Liability
Inventory System established pursuant to CERCLA.

“Change of Control”: the acquisition by any
Person, or two or more Persons acting in concert, of beneficial ownership
(within the meaning of Rule 13d-3 of the Securities and Exchange Commission
under the Securities Exchange Act of 1934) of 35% or more of the outstanding
shares of voting stock of the Guarantor.

“Change of Law”:  as defined in Section 5.02 of the Investment
Agreement.

“Code”: 
the Internal Revenue Code of 1986, as amended, and any successor Federal
tax code.

“Collateral”:  as defined in Section 26 of the Lease.

“Co-Lessee”:  as defined in Section 21(b) of the Lease.

“Company”: 
Protective Life Insurance Company, a Tennessee corporation, and its
successors, and such term shall refer to it, as the context shall require, as
(i) the Company hereunder, or (ii) as the Lessee under the Lease.

“Company Agents”:  as defined in Section 11.03(b) of the
Investment Agreement.

“Compliance Certificate:  as defined in Section 8.01(iii) of the
Investment Agreement.

“Consolidated Capitalization”:  at any date of determination, the sum of (i)
Adjusted Consolidated Net Worth as at such date plus (ii) Adjusted Consolidated
Indebtedness as at such time.

“Consolidated Indebtedness”:  the Indebtedness of the Guarantor and the
Subsidiaries determined on a consolidated basis in accordance with GAAP.

“Consolidated Interest Expense”:  for any period of calculation, interest
expense, whether paid or accrued, of the Guarantor and the Subsidiaries
calculated on a consolidated basis in accordance with GAAP.

Consolidated Net Income”:  for any period of calculation, the net income
of the Guarantor and the Subsidiaries calculated on a consolidated basis in
accordance with GAAP.

 95
 

“Consolidated Net Worth”:  at any date of determination, the amount of
consolidated common shareholders’ equity of the Guarantor and the Subsidiaries,
determined as at such date in accordance with GAAP (or SAP, with respect to the
Insurance Subsidiaries).

“Consolidated Subsidiary”:  a Subsidiary, the accounts of which are
customarily consolidated with those of the Guarantor, for the purpose of
reporting to stockholders of the Guarantor, or to the Lessor and each of the
Lease Participants, or, in the case of a recently acquired Subsidiary, the
accounts of which would, in accordance with the Guarantor’s regular practice,
be so consolidated for that purpose.

“Consolidated Total Assets”:  at any time, the total assets of the
Guarantor and the Consolidated Subsidiaries, determined on a consolidated
basis, as set forth or reflected on the most recent consolidated balance sheet
of the Guarantor and the Consolidated Subsidiaries, prepared in accordance with
GAAP and delivered to the Lessor and the Lease Participants pursuant to Section
8.01(i) or (ii) of the Investment Agreement.

“Controlled Group”:  all members of a controlled group of
corporations and all trades or businesses (whether or not incorporated) under
common control which, together with the Guarantor, are treated as a single
employer under Section 414 of the Code.

“Construction Term”:  the “Construction Term” as defined in the
Original Investment Agreement.

“Debt Rating”: 
at any time whichever is the higher of the rating of the Guarantor’s
senior unsecured, unenhanced debt (or, if no such debt exists, its issuer
credit rating for debt of such type) by Moody’s or S&P (provided,
that in the event of a double or greater split rating, the rating immediately
above the lowest rating shall apply), or if only one of them rates the
Guarantor’s senior unsecured, unenhanced debt, such rating.

“Default”: 
any condition or event that constitutes an Event of Default or that with
the giving of notice or the lapse of time or both would, unless cured or waived,
become an Event of Default.

“Default Rate”: 
with respect to any Lessor Investments, Rent or any other amount payable
under any Operative Document, on any day, the sum of 2% plus the Adjusted LIBO
Rate.

“Dollars”
and “$”:  dollars in lawful currency of
the United States of America.

“Eligible Assignee”:  with respect to any particular assignment
under Section 11.06 of the Investment Agreement, any bank or other financial
institution consented to by the Company and the Lessor if such bank or other
financial institution is not already a Lease Participant or an affiliate of a
Lease Participant; provided that (i) the Lessor’s consent may be granted
or withheld in its sole and absolute discretion, and (ii) the Company’s consent
shall not be unreasonably withheld and, provided, further, that such consent of
the Company shall not be required if a Default or Event of Default is in
existence.

 96
 

“Eligible Lessor” shall mean a Person (a) of
which another Person (the “Lessor Parent”) has voting control of, which
voting control is represented by a majority of the outstanding voting equity
interests (the “Majority Equity Interest”), held by the Lessor Parent
(b) that has a legal form that allows holders of the Majority Equity Interests
to make decisions and manage such Person’s activities; (c) that believes that
its level of net worth is sufficient to allow it to finance its activities; (d)
that has the Majority Equity Interests which are the first interest subject to
loss if such Person’s assets are not sufficient to meet its obligations; (e)
that did not receive assets that are beneficial interests in a special purpose
entity in exchange for the issuance of the Majority Equity Interests; (f) that
did not receive funds in exchange for the Majority Equity Interests from any of
the Lease Participants, other than the Lessor Parent or its Affiliates; and (g)
that holds title to real estate or equipment assets with a fair market value
equal to or in excess of $250,000,000.

“Environmental Assessment”:  collectively, a phase 1 report conducted by
an independent engineering firm reasonably acceptable to the Lessor in scope
and substance satisfactory to the Lessor, and in any event satisfying the
minimum standards set forth in ASTME 1527-05 (and, if recommended in or
indicated by the phase 1 report, a phase 2, environmental soil test or other
environmental report or reports), reflecting compliance of the Facility in all
material respects with all applicable Environmental Requirements.

“Environmental Authority”:  any foreign, federal, state, local or
regional Governmental Authority that exercises any form of jurisdiction or
authority under any Environmental Requirement.

“Environmental Authorizations”:  all licenses, permits, orders, approvals,
notices, registrations or other legal prerequisites for conducting the business
of the Guarantor, the Company or any other Subsidiary, or for the uses and
activities of, on or relating to the Facility, required by any Environmental
Requirement.

“Environmental Damages”:  any and all claims, losses, costs, damages,
penalties and expenses which are incurred at any prior or subsequent time as a
result of the existence or release of Hazardous Materials upon, about or
beneath the Facility or migrating or threatening to migrate to or from the
Facility, or the existence of a violation of Environmental Requirements
pertaining to the Facility, regardless of whether the existence of such
Hazardous Materials or the violation of Environmental Requirements arose prior
to the present ownership or operation of the Facility.

“Environmental Judgments and Orders”:  all Judgments, arising from or in any way
associated with any Environmental Requirements, whether or not entered upon
consent or written agreements with an Environmental Authority or other entity
arising from or in any way associated with any Environmental Requirement,
whether or not incorporated in a Judgment.

“Environmental Liabilities”:  any liabilities or Liens, whether accrued,
contingent or otherwise, arising from and in any way associated with any Environmental
Requirements.

“Environmental Notices”:  written notice from any Environmental
Authority or by any other Person, of possible or alleged noncompliance with or
liability under any

 97
 

Environmental Requirement, including without
limitation any complaints, citations, demands or requests from any
Environmental Authority or from any other person or entity for correction of
any violation of any Environmental Requirement or any investigations concerning
any violation of any Environmental Requirement.

“Environmental Proceedings”:  any judicial or administrative proceedings
arising from or in any way associated with any Environmental Requirement.

“Environmental Release”:  any actual or threatened release defined in
CERCLA or under any state or local environmental law or regulation.

“Environmental Requirements”:  any statue, rule, regulation, ordinance,
permit, license administration or judicial decision or order (whether by
consent or otherwise) or the requirement of law with respect to: (i) the
protection of human health and/or the environment; (ii) the existence,
handling, use, generation, treatment, storage, packaging, labeling, removal or
Environmental Release of Hazardous Materials on, under, about and/or from any
real property, including the Facility; and (iii) the effects on the environment
of any activity now, previously, or hereinafter conducted on any real property,
including the Facility.  The
Environmental Requirements shall include, but not be limited to, the following:  CERCLA; the Superfund Amendments and
Reauthorization Act, Public Law 99-499, 100 Stat. 1613; the Resource
Conservation and Recovery Act, 42 U.S.C. §§ 6901, et seq.; the Toxic
Substances Control Act, 15 U.S.C. §§ 2601, et seq.; the Federal Water
Pollution Control Act, 33 U.S.C. §§ 1251, et seq.; the Clean Air Act, 42
U.S.C. §§ 7401, et seq.; the Occupational Safety and Health Act, 29
U.S.C. §§ 651, et seq.; the Emergency Planning and Community
Right-To-Know Act of 1986, 42 U.S.C. §§ 11001, et seq.; the state and
local analogies thereto, all as amended or superseded from time to time; and
any common-law doctrine, including but not limited to, negligence, nuisance,
strict liability, trespass, personal injury, or property damage related to or
arising out of the presence, Environmental Release or exposure to a Hazardous
Material; and all federal, state and local ordinances, regulations, orders,
writs and decrees.

“ERISA”: 
the Employee Retirement Income Security Act of 1974, as amended from
time to time, or any successor law and the regulations promulgated and rulings
issued from time to time thereunder.  Any
reference to any provision of ERISA shall also be deemed to be a reference to
any successor provision or provisions thereof.

“Eurocurrency Liabilities”:  as defined in Regulation D of the Board of
Governors of the Federal Reserve System, as in effect from time to time.

“Eurodollar Reserve Percentage”:  for any day the percentage (expressed as a
decimal) that is in effect on such day, as prescribed by the Board of Governors
of the Federal Reserve System (or any successor) for determining the maximum
reserve requirement for a member bank of the Federal Reserve System in respect
of Eurocurrency Liabilities (or in respect of any other category of liabilities
which includes deposits by reference to which the interest rate on loans made
at the LIBO Rate is determined or any category of extensions of credit or other
assets which includes loans by a non-United States office of any Funding Party
to United States residents).  The
Adjusted LIBO Rate shall be adjusted automatically on and as of the effective
date of any change in the Eurodollar Reserve Percentage.

 98
 

“Event of Default”:  each of the each of the events or
circumstances defined as an “Event of Default” in Section 9.01 of the
Investment Agreement.

“Facility”: 
the collective reference to (i) the Lessor’s leasehold interest in the
Site, (ii) the Improvements, and (iii) all plans, specifications, warranties
and related rights and operating, maintenance and repair manuals related
thereto and all replacements of any of the above.

“Facility Cost”:  $75,000,000.

“Facility Plan”:  the architectural and engineering plans and
specifications for the Facility and list of Facility Plan documents furnished
to the Lessor pursuant to Section 6.01(f) of the Original Investment Agreement,
as the same may have been duly amended, restated, supplemented or otherwise
modified from time to time prior to the Restatement Closing Date.

“Federal Funds Rate”:  for any day, the rate per annum (rounded
upward, if necessary, to the next higher 1/100th of 1%) equal to the weighted
average of the rates on overnight Federal funds transactions with members of
the Federal Reserve System arranged by Federal funds brokers on such day, as
published by the Federal Reserve Bank of New York on the Business Day next
succeeding such day, provided that (i) if the day for which such rate is
to be determined is not a Business Day, the Federal Funds Rate for such day
shall be such rate on such transactions on the next preceding Business Day, and
(ii) if such rate is not so published for any day, the Federal Funds Rate for
such day shall be the average rate charged to the Lessor on such day on such
transactions, as determined by the Lessor.

“Final Rent Payment”:  an amount equal to the sum of (i) the
aggregate amount of the Unrecovered Lessor Investments attributable to the A
Percentage Lessor Investments, plus (ii) the aggregate amount of the
Unrecovered Lessor Investments attributable to that portion of the B Percentage
Lessor Investments which are in excess of the Non-Recourse Amount, plus (iii)
all accrued, unpaid Supplemental Rent through the end of the Lease Term, plus
(iv) all accrued, unpaid A Percentage Yield through the end of the Lease Term,
plus (v) all accrued and unpaid B Percentage Yield through the end of the Lease
Term, plus (vi) other amounts owing by the Company under the Operative
Documents (other than the Unrecovered Lessor Investments attributable to that
portion of the B Percentage Lessor Investments which are attributable to the
Non-Recourse Amount).

“Fiscal Quarter”:  any fiscal quarter of the Guarantor or the
Company, as the case may be.

“Fiscal Year”: 
any fiscal year of the
Guarantor or  the Company, as the
case may be.

“Funded Amount”:  the aggregate amount of the A Percentage
Lessor Investments, the B Percentage Lessor Investments, Yield thereon,
Supplemental Rent pursuant to Section 2.04, expenses and indemnities owing or
to be owing to the Lessor and the Lease Participants, and (without duplication)
all other amounts owing by the Company to the Lessor or the Lease Participants
pursuant to the Investment Agreement or any other Operative Document.

 99
 

“Funding Party”:  Any one, or more, or all, as the context
shall require, of the Lessor and the Lease Participants collectively, the “Funding
Parties”.

“GAAP”: 
generally accepted accounting principles in the United States of America
applied on a basis consistent with those which, in accordance with Section 1.03
of the Investment Agreement, are to be used in making the calculations for
purposes of determining compliance by the Guarantor  with the provisions of the Operative Documents applicable
thereto.

“Governmental Authority”:  to include the country, state, county, city
and political subdivisions in which any Person or any such Person’s property is
located or that exercises valid jurisdiction over any such Person or any such
Person’s property, and any court, agency, department, commission, board, bureau
or instrumentality of any of them including monetary authorities that exercise
valid jurisdiction over any such Person or any such Person’s property.  Unless otherwise specified, all references to
Governmental Authority herein shall mean a Governmental Authority having
jurisdiction over, where applicable, the Guarantor, the Company, the Site, the
Facility, the Lessor, any Lease Participant, any Applicable Funding Office or
any Operative Document.

“Governmental Requirement”:  any law, statute, code, ordinance, order,
determination, rule, regulation, judgment, decree, writ, order, injunction,
franchise, permit, certificate, license, authorization or other direction or
requirement (whether or not having the force of law), including, without
limitation, Environmental Requirements, and occupational, safety and health
standards or controls, of any Governmental Authority.

“Ground Lease”: 
that certain Amended and Restated Ground Lease dated as of the
Restatement Closing Date by and between the Company, as lessor, and Lessor, as
lessee, as the same may be amended, restated, supplemented, or otherwise
modified from time to time.

“Guaranteed Obligations”:  of a Person, without limitation, such Person’s
guaranties, endorsements, assumptions and other contingent obligations with
respect to, or to purchase or to otherwise pay or acquire, Indebtedness of
others.

“Guarantor”: 
Protective Life Corporation, a Delaware corporation, and its successors.

“Guaranty”: 
the Guaranty, in the form of Exhibit F, of even date with the
Investment Agreement, from the Guarantor to the Lessor for the benefit of the
Lessor and the Lease Participants, pursuant to which the Guarantor, as primary
obligor, guarantees and is liable for all of the Company’s obligations under
all Operative Documents, as amended, supplemented or otherwise modified from
time to time.

“Hazardous Materials”:  to include, without limitation, (i) solid or
hazardous waste, as defined in the Resource Conservation and Recovery Act of
1980, 42 U.S.C. § 6901 et seq., and its implementing regulations and
amendments, or in any applicable state or local law or regulation, (ii) “hazardous
substance”, “pollutant”, or “contaminant” as defined in CERCLA, or in any
applicable federal, state or local law or regulation, (iii) gasoline, or any
other petroleum product or by-product, including crude oil or any fraction
thereof, (iv) insecticides, fungicides, or rodenticides, as defined in the
Federal Insecticide, Fungicide, and Rodenticide Act of 1975, or in

 100
 

any applicable federal, state or local law or
regulation, as each such Act, statute or regulation may be amended from time to
time, or (v) any toxic or hazardous materials, wastes, polychlorinated
biphenyls (“PCBs”), lead-containing materials, asbestos or asbestos-containing
materials, urea formaldehyde, radioactive materials, pesticides, the discharge
of sewage or effluent, or any other materials or substances defined as or
included in the definition of “hazardous materials,” “hazardous waste,” “contaminants”
or similar terms under any Environmental Requirement.

“Highest Lawful Rate”:  with respect to each Funding Party, the
maximum non-usurious Yield that at any time or from time to time may be
contracted for, taken, reserved, charged or received on the Lessor Investments
and the Lease Participant Investments or on other amounts owing hereunder under
laws applicable to such Funding Party which are presently in effect or, to the
extent allowed by law, under such applicable laws which may hereafter be in
effect and which allow a higher maximum non-usurious Yield rate than applicable
laws now allow.

“Impositions”: 
without duplication, as to any Person, (i) all Taxes, assessments,
levies, fees, water and sewer rents and charges, inspection fees and other
authorization fees and all other governmental charges, general and special,
ordinary and extraordinary, foreseen and unforeseen, of every character
(including all penalties and interest thereon) that, at any time prior or
subsequent to the Restatement Closing Date, are imposed or levied upon or
assessed against or may be or constitute a Lien upon such Person or such Person’s
Property, or that arise in respect of the ownership, operation, occupancy,
possession, use, non-use, condition, leasing or subleasing of such Person’s
Property; (ii) all charges, levies, fees, rents or assessments for or in
respect of utilities, communications and other services rendered or used on or
about such Person’s Property; (iii) payments required in lieu of any of the
foregoing; but excluding any penalties or fines imposed on any Funding Party
for violation by it of any banking laws or securities law; and (iv) any and all
taxes, recording fees and other charges (including penalties and interest)
relating to or arising out of the execution, delivery or recording of any of
the Operative Documents for the amounts evidenced, secured or referred to be
paid thereby, including without limitation, documentary stamp taxes, intangible
taxes, recording fees and sales and rent taxes.

“Improvements”: 
collectively, the building and parking deck and related enhancements and
improvements, including furniture, fixtures and equipment constructed or
installed on the Site in accordance with the Facility Plan, together with all
accessions thereto and replacements thereof, and together with all accessories,
equipment, parts and devices thereto, and all fixtures now or hereafter
included in or attached to the Site, the building and such enhancements and
improvements and modifications, but excluding the Site.

“Indebtedness”: 
of a Person means, without duplication, such Person’s (i) obligations
for borrowed money, (ii) obligations representing the deferred purchase price
of Property or services (other than accounts payable arising in the ordinary
course of such Person’s business payable on terms customary in the trade),
(iii) obligations, whether or not assumed, payable out of the proceeds or
production from Property now or hereafter owned or acquired by such Person,
(iv) obligations evidenced by notes, acceptances or other similar debt
instruments, (v) Capitalized Lease Obligations, (vi) obligations for
reimbursement of drafts drawn or

 101
 

available to be drawn under letters of credit, (vii)
Synthetic Lease Obligations and (viii) Guaranteed Obligations.  It is understood and agreed, for the
avoidance of doubt, that 9a) annuities, guaranteed investment contracts,
funding agreements and similar instruments and agreements, (b) obligations
(including without limitation trust obligations) under reinsurance,
coinsurance, modified coinsurance agreements or similar agreements and related
trust agreements, and (c) insurance products created or entered into in the
normal course of business shall not constitute “Indebtedness.”  Notwithstanding the foregoing, Indebtedness
shall not include:  (1) the following
obligations issued in connection with the funding of statutory reserves with
respect to which the Borrowers have no obligation to repay:  (A) surplus notes or other obligations of
Subsidiaries of the Borrowers (“Capital Market Notes”), (B) any securities
backed by such Capital Market Notes, and (C) any guarantees by the issuers of
the obligations described in (A) and (B) above, (2) any short-term indebtedness
incurred for the pre-funding of anticipated policy obligations or anticipated
investment cash flow, or (3) obligations that are not otherwise included in
items (i) through (viii) of the definition of Indebtedness, but which would be
classified as a liability on the Borrowers’ financial statements only by reason
of FASB Interpretation No. 46.

“Indemnified Party”:  as defined in Section 11.03(c) of the
Investment Agreement.

“Indemnified Risks”:  as defined in Section 11.03(c) of the
Investment Agreement.

“Initial Master Assignment and Acceptance”:  that certain Initial Master Assignment and
Acceptance dated as of the Restatement Closing Date by and among WCI, WDC, the
Company, Guarantor, SunTrust Bank, and LaSalle Bank National Association, as
the same may be amended, restated, supplemented, or otherwise modified from
time to time.

“Insurance Requirements”:  all terms of any insurance policy (including,
without limitation, casualty and general liability) covering or applicable to
the Facility or any portion thereof maintained in accordance with Section 14 of
the Lease and all requirements of the issuer of any such policy.

“Insurance Subsidiary”:  any Subsidiary that is engaged in the business
of insuring risk, including, without limitation, the Company.

“Investment”: any investment in any Person,
whether by means of purchase or acquisition of obligations or securities of
such Person, capital contribution to such Person, loan or advance to such
Person, making of a time deposit with such Person, Guarantee or assumption of
any obligation of such Person or otherwise.

“Investment Agreement”:  the Amended and Restated Investment and
Participation Agreement, dated as of the Restatement Closing Date, among the
Company, the Administrative Agent, the Lessor, and the Lease Participants, as
amended, supplemented, renewed, extended or otherwise modified from time to
time.

 102
 

“Judgment”: 
any judgment, decree, writ, order, determination, injunction, rule or
other direction or requirement of any arbitrator or any court, tribunal or
other Governmental Authority.

“Lease”: 
the Amended and Restated Lease Agreement, dated as of the Restatement
Closing Date, pursuant to which the Company, as Lessee, has agreed to lease the
Facility on and after the Lease Commencement Date for the Permitted Use in
accordance with the terms and conditions set forth in the Lease, as the same
may be amended, restated, supplemented, or otherwise modified from time to
time.

“Lease Commencement
Date”:  the Restatement Closing Date.

“Lease Event of
Default”:  as defined in the Lease
Agreement.

“Lease Participant”:  any Person who is listed as a Lease
Participant on the signature pages of the Investment Agreement, or who from
time to time becomes a Lease Participant pursuant to an Assignment and
Acceptance; collectively, the “Lease Participants”.  The term Lease Participant shall include any
or all of the A Percentage Lease Participants and the B Percentage Lease
Participants, as applicable.

“Lease Participant Investments”:  as to (a) each A Percentage Lease
Participant, its A Percentage Share of the A Percentage Lessor Investments and
(b) each B Percentage Lease Participant, its B Percentage Share of the B
Percentage Lessor Investments, in each case as evidenced by, embodied in, or
corresponding to such Lease Participant’s A Percentage Ownership Interest or B
Percentage Ownership Interest.

“Lease Term”: 
the period of time commencing on the Lease Commencement Date and ending
on the Lease Termination Date.

“Lease Termination Date”:  the earlier to occur of (i) the Option Date,
(ii) the Cancellation Date, (iii) the date of termination as a result of a
Termination Event and (iv) the Scheduled Lease Termination Date.

“Lessee”: 
the Company in its capacity as Lessee under the Lease and any successor
or permitted assign in such capacity.

“Lessor”: 
the Lessor and any successor or Eligible Lessor Assignee permitted by
the terms of the Investment Agreement and the Lease.

“Lessor Assignment Agreement”:  that certain Assignment and Assumption
Agreement dated the Restatement Closing Date, pursuant to which, among other
things, WCI assigned to Lessor all of WCI’s right, title, and interest in and
to the Original Lease Documents, as the same may be amended, restated,
supplemented, or otherwise modified from time to time.

“Lessor Equity Interest”:  that portion of the B Percentage Lessor
Investments in an amount equal to 5.00000% of the Facility Cost and which is
part of the Non-Recourse Amount, which amount shall be owned and retained by
the Lessor.

 103
 

“Lessor Investments”:  at any time of determination, the aggregate
of all amounts of Facility Cost funded by the Lessor or capitalized as part of
Facility Cost pursuant to the Investment Agreement, less any payments thereon
or redemptions thereof.  The term “Lessor
Investments” includes, at any time and as the context may require, those
Lessor Investments made by Lessor, the A Percentage Lessor Investments, and the
B Percentage Lessor Investments.

“LIBO Rate”: 
with respect to any Lessor Investments for the applicable Yield Period
therefor, or any other amount, the rate per annum determined on the basis of
the offered rate for deposits of three months in Dollars of amounts equal or
comparable to the principal amount of such Lessor Investments, or any such
other amount, as applicable, which rates appear on Dow Jones Markets, Inc. Page
3750 as of 11:00 A.M., London time, two Business Days prior to the first day of
such Yield Period, provided that will be the arithmetic average (rounded
upward, if necessary, to the next higher 1/16th of 1%) of such offered rates;
(b) if no such offered rates appear on such page, the “LIBO Rate” for such
Yield Period, as applicable, will be the arithmetic average (rounded upward, if
necessary, to the next higher 1/16th of 1%) of rates quoted by not less than
two major banks in New York City, selected by the Administrative Agent (on
behalf of the Lessor), at approximately 10:00 A.M., New York City time, two
Business Days prior to the first day of such Yield Period, as applicable, for
deposits in Dollars offered to leading European banks for a period comparable
to such Yield Period, in an amount comparable to the principal amount of such
Lessor Investments, or any such other amount.

“Lien”: 
with respect to any asset, any mortgage, deed to secure debt, deed of
trust, lien, pledge, charge, security interest, security title, preferential
arrangement which has the practical effect of constituting a security interest
or encumbrance, or encumbrance or servitude of any kind in respect of such
asset to secure or assure payment of any Indebtedness or a Guarantee, whether
by consensual agreement or by operation of statute or other law, or by any
agreement, contingent or otherwise, to provide any of the foregoing.  For the purposes of this definition, each of
the Company, the Guarantor, and any Subsidiary thereof shall be deemed to own
subject to a Lien any asset which it has acquired or holds subject to the
interest of a vendor or lessor under any conditional sale agreement, capital
lease or other title retention agreement relating to such asset.

“Limited Recourse Event of Default” means each
Event of Default described on Schedule 1.02(c), attached hereto and made
a part hereof.

“Loss Event”: 
any of the following events in respect of the Facility: (i) the total
loss of the Facility or the total loss of use thereof due to theft,
disappearance, destruction, damage beyond repair or rendition of the Facility
permanently unfit for normal use for any reason whatsoever; (ii) any damage to
the Facility which results in an insurance settlement with respect to the
Facility on the basis of a total loss; (iii) the permanent condemnation,
confiscation or seizure of, or requisition of title to or use of, all or
substantially all of the Facility including, but not limited to, a permanent
taking by eminent domain of such scope that the untaken part of the Facility is
insufficient to permit the restoration of the Facility for continued use in the
Company’s business or that causes the remaining part of the Facility to be
incapable of being restored to a condition that would permit the remaining
portion of the Facility (without the portion of the Facility taken by eminent
domain) to continue to have the capacity and functional ability to perform on a
continuing basis (subject to normal interruptions in the ordinary course of

 104
 

business for maintenance, inspection, service, repair
and testing) and in commercial operation, the function for which the Facility
(as a whole) was designed as specified in the Facility Plan or a temporary
taking of such nature for a period exceeding 180 consecutive days; or (iv) the
occurrence of any event or the discovery of any condition in, on, beneath or
involving the Facility or any portion thereof (including, but not limited to
the presence of hazardous substances or the violation of any applicable
Environmental Requirement) that would have a material adverse effect on the
use, occupancy, possession, condition, value or operation of the Facility or any
portion thereof, which event or condition requires remediation (A) the cost of
which is anticipated, in the opinion of the Lessor, in consultation with an
independent environmental engineering firm, to exceed 15% of the Termination
Value, and (B) that could not reasonably be expected to be completed
substantially in its entirety prior to the date that is 30 days prior to the
then-applicable Scheduled Lease Termination Date or is not actually completed
substantially in its entirety on or before the date that is 30 days prior to
the then-applicable Scheduled Lease Termination Date.

“Majority Funding Parties”:  at any time Funding Parties owning at least
51% of the aggregate amount of the Ownership Interests (the A Percentage
Ownership Interests and the B Percentage Ownership Interests being considered
as a single class and not separately and without regard to any sale by a Lease
Participant of a participation in its Ownership Interest under Section 11.06(f)
of the Investment Agreement).

“Margin Stock”: 
“margin stock” as defined in Regulations U or G of the Board of
Governors of the Federal Reserve System, as in effect from time to time.

“Market Value”: 
as defined in Section 323.2(f) of the Regulations and Statements of
General Policy on Appraisals promulgated by the Federal Deposit Insurance
Corporation, 12 C.F.R. § 323.2(f), as amended from time to time.

“Material Adverse Effect”:  with respect to any event, act, condition or
occurrence of whatever nature (including any adverse determination in any
litigation, arbitration, or governmental investigation or proceeding), whether
singly or in conjunction with any other event or events, act or acts, condition
or conditions, occurrence or occurrences, whether or not related, a material
adverse change in, or a material adverse effect upon, any of (i) the financial
condition, operations, business, or properties of the Guarantor and the
Consolidated Subsidiaries taken as a whole, (ii) the rights and remedies of the
Funding Parties under the Operative Documents, or the ability of the Company or
the Guarantor to perform its obligations under the Operative Documents to which
it is a party, (iii) the legality, validity or enforceability of any Operative
Document, or (iv) the use, occupancy, possession, condition, value or operation
of the Facility.

“Material Subsidiary”:  any Subsidiary the assets of which constitute
15% or more of Consolidated Total Assets.

“Maturity Date”:  the earlier to occur of (a) the Option Date,
(B) the Cancellation Date, and (C) the Lease Termination Date.

“Moody’s”:  Moody’s Investor Service, Inc.

 105

“Multiemployer Plan”:  has the meaning set forth in Section
4001(a)(3) of ERISA.

“NAIC”:  the National Association of Insurance
Commissioners or any successor thereto, or in lieu thereof, any other
association, agency or other organization performing advisory, coordination or
other like functions among insurance departments, insurance commissions and
similar Governmental Authorities of the various states of the United States of
America toward the promotion of uniformity in the practices of such Governmental
Authorities.

“Non-Recourse Amount”:  an amount equal to 18.10000% of the Facility
Cost, which amount includes that portion of the B Percentage Lessor Investments
attributable to the Lessor Equity Interest and all of which shall be held by
one or more B Percentage Lease Participants or the Lessor.

“Non-U.S. Domestic Participant”:  as defined in Section 4.06(b) of the
Investment Agreement.

“Operative Documents”:  collectively, the Investment Agreement, the
Lease, the Guaranty, the Lessor Assignment Agreement, the Initial Master
Assignment and Acceptance, the Secondary Master Assignment and Acceptance, and
the Security Instruments and any and all other agreements or instruments now or
hereafter executed and delivered, or required to be executed and delivered, by
the Company or the Guarantor in connection with the Investment Agreement or the
other Operative Documents, as such agreements or instruments may be amended,
supplemented, renewed, extended, increased or otherwise modified from time to
time.

“Option Date”:  as defined in Section 15(c) of the Lease.

“Original Agency
Agreement”:  that certain
Acquisition, Agency, Indemnity and Support Agreement, dated as of February 1,
2000, between the WCI and the Company, as Acquisition/Construction Agent, as
amended, supplemented or otherwise modified from time to time prior to the
Restatement Closing Date.

“Original Ground Lease”:  that certain Ground Lease dated as of
February 1, 2000, between the Company and WCI, as the same may be amended,
restated, supplemented, or otherwise modified from time to time up to but not
including the Restatement Closing Date.

“Original Guaranty
Agreement”:  that certain Guaranty
dated as of February 1, 2000, executed and delivered by Guarantor in favor of
WCI (for the ratable benefit of the Lease Participants), which Guaranty
contains certain limitations, as the same may be amended, restated,
supplemented, or otherwise modified from time to time up to but not including
the Restatement Closing Date.

“Original Investment
Agreement”:  that certain Investment
and Participation Agreement dated as of February 1, 2000, by and among the
Company, WCI and each of the “Lease Participants” party thereto, as the same
may be amended, restated, supplemented, or otherwise modified from time to time
up to but not including the Restatement Closing Date.

 106
 

“Original Lease Agreement”:  that certain Lease Agreement dated as of
February 1, 2000, by and between WCI and the Company, as the same may be
amended, restated, supplemented, or otherwise modified from time to time up to
but not including the Restatement Closing Date.

“Original Lease
Documents”:  the Original Investment
Agreement, the Original Ground Lease, the Original Lease Agreement, the
Original Guaranty Agreement, and all other documents, instruments, and
agreements entered into in connection with or pursuant to any of the foregoing
before the Restatement Closing Date.

“Other Taxes”:  all taxes (other than Taxes), assessments,
levies, fees, water and sewer rents and charges, inspection fees and other
authorization fees and all other governmental charges, general and special,
ordinary and extraordinary, foreseen and unforeseen, of every character
(including all penalties and interest thereon) and all recording fees and other
charges (including penalties and interest) relating to or arising out of (i)
the execution, delivery, recording or enforcement of any of the Operative
Documents, whether for the amounts evidenced, secured or referred to be paid
thereby, or otherwise, or (ii) to the ownership, use, operation or transfer of
the Facility or any other Property or (iii) any other event or circumstance,
including without limitation, transfer taxes, documentary stamp taxes,
intangible taxes, recording fees and sales, use and rent taxes.

“Other Transaction Expenses”:  as defined in Section 3.05(a)(i) of the
Investment Agreement.

“Ownership Certificate”:  as defined in Section 2.01(b) of the
Investment Agreement.

“Ownership Interests”:  A Percentage Ownership Interests or B
Percentage Ownership Interests, as applicable.

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

“Percentage Share”:  as to any Lease Participant or the Lessor,
its A Percentage Share or the B Percentage Share, as applicable.

“Performance Pricing Determination Date”:  each date on which the Debt Rating changes.

“Permit”: 
any approval, consent, waiver, exemption, variance, franchise, order,
permit, authorization, right or license of or from any Governmental Authority
or other Person.

“Permitted Insurers”:  insurers with ratings of A or better and
Class VIII or better according to Best’s Insurance Reports, or other insurers
acceptable to the Lessor.

“Permitted Liens”:  (i) with respect to the Lease or the Facility
(including without limitation, the Site) or any Property included in or
comprising the Facility or any portion thereof, any of the following:

 107
 

(a)           rights reserved to or vested in any
Governmental Authority by the terms of any right, power, franchise, grant,
license, permit or provision of law affecting the Facility to (1) terminate, or
take any other action which has the effect of modifying, such right, power,
franchise, grant, license, permit or provision of law, provided that
such termination or other action, when taken, shall not have resulted in a Loss
Event and shall not have had a Material Adverse Effect, or (2) purchase,
condemn, appropriate or recapture, or designate a purchaser of, the Facility;

(b)           any Liens thereon for Impositions or
taxes and any Liens of mechanics, materialmen and laborers for work or services
performed or materials furnished which (i) are not overdue, or (ii) are being
contested in good faith in the manner described in Section 13 of the Lease;

(c)           Liens of mechanics, materialmen and
laborers for work or services performed or materials furnished during the
Construction Term;

(d)           rights reserved to or vested in any
Governmental Authority to control or regulate the use of such Property or to
use the Facility in any manner;

(e)           in the case of the Site, encumbrances,
easements, and other similar rights existing on the Restatement Closing Date
the existence or exercise of which do not have a Material Adverse Effect; and

(f)            any Liens created under the Operative
Documents and any financing statements filed in connection therewith;

and

(ii)           with respect to any other Property,
any of the following:

(a)           Liens existing on the Restatement
Closing Date securing Indebtedness outstanding on the Restatement Closing Date
in an aggregate principal amount with respect to Indebtedness for borrowed
money and capital leases not exceeding $3,000,000;

(b)           any Lien existing on any asset of any
(a) corporation or partnership at the time such corporation or such partnership
becomes a Consolidated Subsidiary, or (b) Subsidiary at the time it becomes a
Subsidiary, and in either case not created in contemplation of such event;

(c)           any Lien on any asset securing
Indebtedness incurred or assumed for the purpose of financing all or any part
of the cost of acquiring or constructing such asset, provided that such Lien
attaches to such asset concurrently with or within 18 months after the
acquisition or completion of construction thereof;

(d)           any Lien on any asset of any
corporation existing at the time such corporation is merged or consolidated
with or into the Company or the Guarantor or a Consolidated Subsidiary and not
created in contemplation of such event;

 108
 

(e)           any Lien existing on any asset prior
to the acquisition thereof by the Guarantor, the Company or another
Consolidated Subsidiary and not created in contemplation of such acquisition;

(f)            Liens securing Indebtedness owing by
any Subsidiary to the Guarantor or the Company;

(g)           any Lien arising out of the
refinancing, extension, renewal or refunding of any Indebtedness secured by any
Lien permitted by any of the foregoing clauses of this subsection (ii), provided
that (a) such Indebtedness is not secured by any additional assets, and (ii)
the amount of such Indebtedness secured by any such Lien is not increased;

(h)           Liens incidental to the conduct of the
business of the Guarantor, the Company or any of the Subsidiaries  or the ownership of their respective assets
which (a) do not secure Indebtedness and (b) do not in the aggregate materially
detract from the value of their respective assets or materially impair the use
thereof in the operation of their respective businesses;

(i)            any Lien on Margin Stock;

(j)            Liens for Impositions or Taxes either
not yet delinquent or which are being contested in good faith by appropriate
proceedings;

(k)           Liens not securing Indebtedness which
are created by or relate to any legal proceedings which at the time are being
contested in good faith by appropriate proceedings;

(l)            any other statutory or inchoate Lien
securing amounts other than Indebtedness which are not delinquent; and

(m) Liens not otherwise
permitted by the foregoing paragraphs of this subsection (ii) securing
Indebtedness and other obligations in an aggregate principal amount at any time
outstanding not to exceed 15% of Adjusted Consolidated Net Worth.

“Permitted Use”:  with respect to the Facility, the occupation
and use of the Site and the Improvements as a corporate office building in
compliance with all applicable Governmental Requirements and Insurance
Requirements.

“Person”:  an individual, a corporation, a partnership,
a limited liability company, an unincorporated association, a trust or any
other entity or organization, including, but not limited to, a government or
political subdivision or other Governmental Authority.

“Plan”:  at any time an employee pension benefit plan
which is covered by Title IV of ERISA or subject to the minimum funding
standards under Section 412 of the Code and is either (i) maintained by a
member of the Controlled Group for employees of any member of the Controlled
Group or (ii) maintained pursuant to a collective bargaining agreement or any
other arrangement under which more than one employer makes contributions and to
which a member of the Controlled Group is then making or accruing an obligation
to make contributions or has within the preceding 5 plan years made
contributions.

 109
 

“Pricing Schedule”:  the Pricing Schedule attached as Schedule
1.02(b) to the Investment Agreement.

“Prime Rate”:  that rate of interest so denominated and set
by the Administrative Agent from time to time as an interest rate basis for
borrowings.  The Prime Rate is but one of
several interest rate bases used by Administrative Agent, and is set by the
Administrative Agent as a general reference rate of interest, taking into
account such factors as the Administrative Agent may deem appropriate, it being
understood that many of the Administrative Agent’s commercial or other loans
are priced in relation to such rate, that it is not necessarily the lowest or
best rate actually charged to any customer and that the Administrative Agent
may make various commercial or other loans at rates of interest having no
relationship to such rate.

“Property”: 
any kind of property or asset, whether real, personal or mixed, or
tangible or intangible, and any interest therein.

“Purchase
Closing Date”:  as defined in Section
15(e) of the Lease.

“Purchase Price”:  at any time of determination, an amount equal
to the sum, as of the purchase date of (i) the aggregate amount of the
Unrecovered Lessor Investments attributable to the A Percentage Lessor
Investments, plus (ii) all accrued but unpaid A Percentage Yield through the
end of the Lease Term, plus (iii) the aggregate amount of the Unrecovered
Lessor Investments attributable to the B Percentage Lessor Investments, plus
(iv) all accrued but unpaid B Percentage Yield through the end of the Lease
Term, plus (v) all accrued, unpaid Supplemental Rent through the end of the
Lease Term, plus (iv) all other amounts owing by the Company under the
Operative Documents.

“Real Property”:  as defined in Section 26(i)(2) of the Lease.

“Redeemable Preferred
Stock”:  of any Person means any
preferred stock issued by such Person (i) required (by the terms of the
governing instruments or at the option of the holder thereof) to be mandatorily
redeemed for cash at any time prior to the Maturity Date (by sinking fund or
similar payments or otherwise) or (ii) redeemable at the option of the holder
thereof at any time prior to the Maturity Date.

“Register”:  as defined in Section 11.06(d) of the
Investment Agreement.

“Regulation A”:  Regulation A of the Board of Governors of the
Federal Reserve System, as in effect from time to time, together with all
official rulings and interpretations issued thereunder.

“Regulation D”:  Regulation D of the Board of Governors of the
Federal Reserve System, as in effect from time to time, together with all
official rulings and interpretations issued thereunder.

“Regulation T”:  Regulation T of the Board of Governors of the
Federal Reserve System, as in effect from time to time, together with all
official rulings and interpretations issued thereunder.

 110
 

“Regulation U”:  Regulation U of the Board of Governors of the
Federal Reserve System, as in effect from time to time, together with all
official rulings and interpretations issued thereunder.

“Regulation X”:  Regulation X of the Board of Governors of the
Federal Reserve System, as in effect from time to time, together with all
official rulings and interpretations issued thereunder.

“Related Contract”:  any agreement, contract, bill of sale,
receipt or Vendor’s warranty relating to or for the purchase, acquisition,
design, engineering, testing, manufacture, renovation, assembly, construction
or installation of the Facility or any portion thereof or the provision of
enhancements and improvements to the Facility, or otherwise in connection with
the acquisition, ownership, use, operation or sale or other disposition of the
Facility, made, entered into or received by the Company, as Lessee under the
Lease or as Lessor’s agent, or by the Guarantor or the Company and assigned to
the Lessor pursuant to the Original Agency Agreement or other Operative
Document, with or from one or more Vendors or other Persons.

“Rent”: 
Basic Rent,  Supplemental Rent and
the Final Rent Payment, collectively.

“Rent Payment Date”:  with respect to Basic Rent, each March 31st,
June 30th, September 30th and December 31st of each year, commencing on the
first such date occurring after the Lease Commencement Date.

“Rental Period”:  with respect to Basic Rent, the period
beginning on the Lease Commencement Date and ending on the first Rent Payment
Date occurring thereafter and, thereafter, each subsequent period commencing on
the day following each Rent Payment Date and ending on the next Rent Payment
Date or on the Lease Termination Date.

“Reported Net Income”:  for any period, the Net Income of the
Guarantor and the Consolidated Subsidiaries determined on a consolidated basis.

“Restatement
Closing Date”:  January 11, 2007.

“Restricted Payment”:
(i) any dividend or other distribution on any shares of the Guarantor’s Capital
Stock (except dividends payable solely in shares of its Capital Stock or
additional rights to acquire its Capital Stock) or (ii) any payment on account
of the purchase, redemption, retirement or acquisition of (a) any shares of the
Guarantor’s Capital Stock (except shares acquired upon the conversion thereof
into other shares of its Capital Stock) or (b) any option, warrant or other
right to acquire shares of the Guarantor’s Capital Stock.

“Revolving Credit
Agreement”:  The Amended and Restated
Credit Agreement dated as of July 30, 2004, among the Guarantor, as the
Borrower, the Company, the lenders from time to time party thereto, and AmSouth
Bank, as administrative agent for such lenders, as the same may be amended,
restated, supplemented, or otherwise modified from time to time.

“S&P”:  Standard & Poor’s Ratings Group, a
division of McGraw-Hill, Inc.

 111
 

“SAP”:  with respect to any Insurance Subsidiary, the
statutory accounting practices prescribed or permitted by the insurance
commissioner (or other similar authority) as of the Restatement Closing Date in
the jurisdiction of incorporation of such Insurance Subsidiary for the
preparation of annual statements and other financial reports by insurance companies
of the same type as such Insurance Subsidiary.

“Scheduled Lease Termination Date”:  the date that is 7 years after the Lease
Commencement Date.

“Secondary Master
Assignment and Acceptance”:  that
certain Secondary Master Assignment and Acceptance dated as of the Restatement
Closing Date by and among WDC, the Administrative Agent, the Company,
Guarantor, SunTrust Bank, Wachovia Bank, National Association, and Citibank,
N.A., as the same may be amended, restated, supplemented, or otherwise modified
from time to time.

“Secured Amount”:  as defined in Section 26 of the Lease.

“Secured Party”:  as defined in Section 26 of the Lease.

“Security Instruments”:  collectively, the Lease and any and all
agreements or instruments, including, without limitation, financing statements,
now or hereafter executed and delivered by the Company as security for the
payment or performance of the Secured Amount, as such agreements or instruments
may be amended, supplemented or otherwise modified from time to time.

“Short-Term
Indebtedness”:  all Indebtedness that
by its terms matures within one year from, and that is not renewable at the
option of the obligor to a date later than one year after, the date such
Indebtedness was incurred.  Any
Indebtedness which is extended or renewed (other than pursuant to the option of
the obligor) shall be deemed to have been incurred at the date of such
extension or renewal.

“Site”: 
certain real property located in Jefferson County, Alabama, described in
greater detail on Exhibit A to the Investment Agreement and the Lease.

“Sublessee”:  as defined in Section 21(c) of the Lease.

“Subsidiary”:  any corporation or other entity of which
securities or other ownership interests having ordinary voting power to elect a
majority of the board of directors or other persons performing similar
functions are at the time directly or indirectly owned by the Guarantor.  A separate account established pursuant to
SAP or any applicable insurance regulatory requirement shall be deemed not to
be a Subsidiary.

“Supplemental Rent”:  as defined in Section 3(c) of the Lease and
Section 2.04 of the Investment Agreement.

“Support
Expenses”:  as defined in Section
8.30.

 112
 

“Surplus Note”:  a promissory note executed by an Insurance
Subsidiary to the Guarantor of the type generally described in the insurance
industry as a “surplus note”, the principal amount of which is properly
recorded by the issuer as an addition to capital and surplus rather than as a
liability in accordance with SAP.

“Survey”:  an ALTA-ACSM boundary survey of the Site and
existing improvements in form and substance satisfactory to the Lessor,
containing such certifications as the Lessor may request, and completed or
certified as recently before the Restatement Closing Date as is satisfactory to
the Lessor.

“Synthetic Lease
Obligations”:  of a Person means the
amount of the obligations of such Person under any lease that would not be
shown as a liability, but would be treated as an operating lease, in accordance
with GAAP, but which arise under a transaction in which the property subject to
such lease is owned by the lessee for purposes of the Code.  Obligations under the Lease are Synthetic
Lease Obligations.

“Taxes”:  as defined in Section 4.06(a) of the
Investment Agreement.

“Termination
Event”:  as defined in Section 15(a)
of the Lease.

“Termination Value”:  at any time will be an amount equal to the
sum of (i) the Final Rent Payment, plus (ii) the Unrecovered Lessor Investments
attributable to that portion of the B Percentage Lessor Investments attributable
to the Non-Recourse Amount.

“Third Party”: 
any Person other than (i) the Lessor, (ii) the Company, (iii) the
Guarantor, or (iv) any Affiliate of any of the foregoing.

“UCC”: 
the Uniform Commercial Code as in effect in the State of Alabama and any
other jurisdiction whose laws may be mandatorily applicable.

“Unconsolidated Cash
Inflow Available for Interest Expense”: 
for any period of calculation, the sum (without duplication) of (a) all
amounts received by the Guarantor from the Subsidiaries during such period as
(i) interest and principal on Indebtedness (including but not limited to
Surplus Notes) and (ii) management fees (net of expenses incurred in providing
the services for which such management fees were paid), (b) all amounts that
the Subsidiaries were permitted, under applicable laws and regulations, to
distribute to the Guarantor during such period as dividends, whether or not so
distributed, and (c) other income of the Guarantor.

“Unrecovered Facility
Cost”:  at any time the sum of (i)
the aggregate original Facility Cost, less (ii) the aggregate amount of
any voluntary prepayments of Facility Cost and casualty and condemnation
proceeds received by the Lessor.

“Unrecovered Lessor Investments”:  at any time an amount equal to the
Unrecovered Facility Cost at such time.

“Upfront Supplemental Rent”:  as defined in Section 2.04(b) of the
Investment Agreement.

 113
 

“Vendor”:  any designer, supplier, manufacturer or
installer of, or provider of Property or services with respect to, the Facility
or any Property included therein or any part thereof.

“WCI”:  Wachovia Capital Investments, Inc.

“Wholly Owned
Subsidiary”:  any Subsidiary all of
the shares of capital stock or other ownership interests of which (except
directors’ qualifying shares) are at the time directly or indirectly owned by
the Guarantor.

“Yield”:  has the meaning given such term in Section
3.03(a).  Any unqualified reference to “Yield”
shall mean a reference to A Percentage Yield or B Percentage Yield, or both, as
the context shall require.

“Yield Period”: 
with respect to the Lessor Investments, each Rental Period; provided,
however, that:

(i)            the duration of any Yield Period that
commences before the Scheduled Lease Termination Date and would otherwise end
after the Scheduled Lease Termination Date shall end on the Scheduled Lease
Termination Date; and

(iii)          if the last day of such Yield Period
would otherwise occur on a day that is not a Business Day, such last day shall
be extended to the next succeeding Business Day, except if such extension
would cause such last day to occur in a new calendar month, then such last day
shall occur on the next preceding Business Day.

 114
 

SCHEDULE 1.02(b)

Pricing Schedule

The terms “Applicable Margin” means, for any
day, the rate per annum set forth below corresponding to the Pricing Level that
applies on such day:

	
  Pricing Level

  	
   

  	
  Level I

  	
   

  	
  Level II

  	
   

  	
  Level III

  	
   

  	
  Level IV

  	
   

  	
  Level V

  	
   

  	
  Level VI

  	
   

  
	
  Applicable Margin for Lessor Investments on:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1. Adjusted LIBO Rate
  basis

  	
   

  	
  0.60

  	
  %

  	
  0.65

  	
  %

  	
  0.75

  	
  %

  	
  0.90

  	
  %

  	
  1.40

  	
  %

  	
  1.75

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2. Base Rate basis

  	
   

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  	
  0.00

  	
  %

  	
  0.40

  	
  %

  	
  0.75

  	
  %

  

 

For purposes of
this Pricing Schedule, the following terms have the following meanings:

“Level I Pricing” applies if the Debt Rating at
the most recent Performance Pricing Determination Date was equal to or better
than A+ or A1.

“Level II Pricing” applies if the Debt Rating
at the most recent Performance Pricing Determination Date was equal to A or A2.

“Level III Pricing” applies if the Debt Rating
at the most recent Performance Pricing Determination Date was equal to A- or
A3.

“Level IV Pricing” applies if the Debt Rating
at the most recent Performance Pricing Determination Date was equal to or less
than BBB+ or Baa1, but greater than BBB- or Baa3.

“Level V Pricing” applies if the Debt Rating at
the most recent Performance Pricing Determination Date was equal to BBB- or
Baa3.

“Level VI Pricing” applies if the Debt Rating
at the most recent Performance Pricing Determination Date was less than BBB- or
Baa3 or if there is no Debt Rating.

All determinations hereunder shall be made by the
Lessor unless the Majority Funding Parties shall object to any such
determination. The Guarantor shall promptly notify the Lessor of any change in
the Debt Rating as required in the Operative Documents.

 115
 

SCHEDULE 1.02(c)

Limited Recourse Events
of Default

1.  Any Event of Default under Section 9.01(b) is
a Limited Recourse Event of Default to the extent such Event of Default
occurred on account of any breach of any of the following representations and
warranties (with certain exceptions as noted below; all section references in
this Schedule 1.02(c) are deemed to be references to the Investment Agreement,
except to the extent otherwise expressly provided):

(a)           The
second sentence of Section 7.01(a);

(b)           Section
7.01(b)(v);

(c)           Section
7.01(d);

(d)           Section
7.01(e)(i);

(e)           Section
7.01(f);

(f)            Section 7.01(g), but only to the
extent any breach does not relate to the payment of taxes relating to the
Facility;

(g)           Section 7.01(h);

(h)           Section 7.01(i);

(i)            Section 7.01(k), but only to the
extent such breach does not relate to (i) the Company’s title or interest in
and to the Facility or (ii) Liens on the Site, the Facility, and any of the
Collateral;

(j)            Section
7.01(l), but only to the extent such breach does not relate to any agreement,
instrument or undertaking respecting the Facility or the operation or
maintenance thereof;

(k)           Section 7.01(m), but only to the
extent such breach does not relate to any information provided with respect to
the Facility, the operation thereof, or the Borrower’s use or maintenance of
the Facility;

(l)            Sections 7.01(n)(i), (ii), and (iii),
but only to the extent such breach does not relate to the Facility; and

(m)          Section 7.01(o); and

(n)           Any representation and warranty
covered by Section 9.01(b) but which is not set forth in Section 7.01 of the
Investment Agreement, but only to the extent such breach (i) does not relate to
the Facility, the operation thereof, the Company’s use or maintenance thereof,
or the enforceability of the Operative Documents and (ii) is not objectively
determinable.

 116
 

2.  Any Event of Default under Section 9.01(c) or
(d) is a Limited Recourse Event of Default to the extent such Event of Default
occurred on account of any breach of any of the following covenants or
agreements (with certain exceptions as noted below):

(a)           The first sentence of Section 8.08,
but only to the extent such breach does not relate to laws, regulations and
similar requirements of governmental authorities applicable to the Facility,
the operation thereof, or the Borrower’s use or maintenance of the Facility;

(b)           The second sentence of section 8.10,
but only to the extent such breach does not relate to the maintenance and
preservation of the Facility;

(c)           Section 8.11, but only to the extent
such breach does not relate to Environmental Liabilities, pending or threatened
Environmental Proceedings, Environmental Notices, Environmental Judgments and
orders, and Environmental Releases concerning, in whole or in part, the
Facility;

(c)           Section 8.12, but only to the extent
such breach does not relate to the use, production, manufacture, processing,
treatment, recycling, generation, storage, disposal of, or management at, or
otherwise handling, or shipping or transporting to or from the Facility;

(d)           Section 8.13, but only to the extent
such breach relates to an Environmental Release at or on the Facility;

(e)           Section 8.14; and

(f)            Any
other covenant or agreement covered by Sections 9.01(c) or (d) but which is not
set forth in Article VIII of the Investment Agreement, but only to the extent
such breach (i) does not relate to the Facility, the operation thereof, the
Company’s use or maintenance thereof, or the enforceability of the Operative
Documents and (ii) is not objectively determinable.

3.             Any Event of Default under Section
9.01(n) is a Limited Recourse Event of Default.

All other Events of
Default described in Section 9.01 of the Investment Agreement are not Limited
Recourse Events of Default, even if the facts and circumstances giving rise to
such Event of Default also cause such Event of Default to constitute, in part,
a Limited Recourse Event of Default.

 117
 

SCHEDULE 7.01(e)

Litigation

None.

 118
 

SCHEDULE 7.01(h)

Subsidiaries

[DELIVERED SEPARATELY]

 119
 

SCHEDULE 7.01(n)

Environmental Matters

The Company installed an above-ground storage tank on
February 19, 1999 that holds diesel fuel for generators used to power the
Facility.

 120

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