Document:

exv4w1

 

Exhibit 4.1   

AMENDMENT NO. 2 TO RIGHTS AGREEMENT

     This Amendment No. 2 (this “Amendment”), dated as of June 15, 2007, is by and between
Authorize.Net Holdings, Inc. (formerly Lightbridge, Inc.), a Delaware corporation (the “Company”),
and American Stock Transfer and Trust Company (the “Rights Agent”).

     WHEREAS, the Company and the Rights Agent are parties to a Rights Agreement dated as of
November 14, 1997, and amended on January 24, 2007 (the “Rights Agreement”); and

     WHEREAS, pursuant to Section 26 of the Rights Agreement, this Amendment is being executed by
the Company and the Rights Agent for the purpose of amending the Rights Agreement as set forth
below;

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

     1. That the definition of “Beneficial Owner” set forth in Section 1 of the Rights Agreement
be amended by deleting such definition in its entirety and replacing it with the following
definition:

     A Person shall be deemed the “Beneficial Owner” of, and shall be deemed to
“beneficially own”, and shall be deemed to have “Beneficial Ownership” of, any
securities:

     (i) which such Person or any of such Person’s Affiliates or Associates is deemed to
“beneficially own” within the meaning of Rule 13d-3 of the General Rules and Regulations
under the Exchange Act, as in effect on the date of this Rights Agreement;

     (ii) which such Person or any of such Person’s Affiliates or Associates has (A) the
right to acquire (whether such right is exercisable immediately or only after the passage of
time) pursuant to any agreement, arrangement or understanding (written or oral), or upon the
exercise of conversion rights, exchange rights, rights (other than the Rights), warrants or
options, or otherwise; provided, however, that a Person shall not be deemed
the Beneficial Owner of, or to beneficially own, or to have Beneficial Ownership of, (1)
securities tendered pursuant to a tender or exchange offer made by or on behalf of such
Person or any of such Person’s Affiliates or Associates until such tendered securities are
accepted for purchase or exchange thereunder, or (2) securities which a Person or any of
such Person’s Affiliates or Associates may be deemed to have the right to acquire pursuant
to any merger or other acquisition or reorganization agreement between the Company and such
Person (or one or more of its Affiliates or Associates) if such agreement has been approved
by the Board of Directors of the Company prior to there being an Acquiring Person; or (B)
the right to vote pursuant to any agreement, arrangement or understanding (written or oral);
provided, however, that a Person shall not be deemed the Beneficial Owner
of, or to beneficially own, any security if (1) the agreement, arrangement or understanding
(written or oral) to vote such security arises

 

 

solely from a revocable proxy or consent given to such Person pursuant to a definitive
proxy statement filed with the Securities and Exchange Commission and otherwise in
accordance with, the applicable rules and regulations under the Exchange Act and (2) the
beneficial ownership of such security is not also then reportable on Schedule 13D under the
Exchange Act (or any comparable or successor report); or

     (iii) which are beneficially owned, directly or indirectly, by any other Person
with which such Person or any of such Person’s Affiliates or Associates has any agreement,
arrangement or understanding (written or oral) for the purpose of acquiring, holding, voting
(except pursuant to a revocable proxy as described in clause (ii)(B) of this definition) or
disposing of any securities of the Company.

Notwithstanding the foregoing, nothing contained in this definition shall cause a Person ordinarily
engaged in business as an underwriter of securities to be the “Beneficial Owner” of, or to
“beneficially own”, any securities acquired in a bona fide firm commitment underwriting pursuant to
an underwriting agreement with the Company.

     2. Except as specifically amended by this Amendment, the Rights Agreement shall remain in
full force and effect.

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly executed as
of the date first above written.

	 	 	 	 	 
	 	AUTHORIZE.NET HOLDINGS, INC.

 	 
	 	By:  	/s/ Eugene DiDonato
 	 
	 	 	Name:  	Eugene DiDonato 	 
	 	 	Title:  	VP & General Counsel 	 
	 

	 	 	 	 	 
	 	AMERICAN STOCK TRANSFER AND TRUST COMPANY

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	 	 
	 	 	Title:exv10w1

 

 

CREDIT AGREEMENT

among

SENSIENT TECHNOLOGIES CORPORATION

and

CERTAIN SUBSIDIARIES OF SENSIENT TECHNOLOGIES CORPORATION,

as Borrowers;

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent,

KEYBANK NATIONAL ASSOCIATION

and

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Co-Syndication Agents,

NATIONAL CITY BANK

and

BANK OF MONTREAL, Chicago Branch,

as Co-Documentation Agents,

and

THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO

Closing Date: June 15, 2007

 

$300,000,000 Revolving Credit Facility

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

Arranger and Sole Book Runner

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE I DEFINITIONS
	 	 	1	 
	Section 1.1 Definitions
	 	 	1	 
	Section 1.2 Times
	 	 	13	 
	Section 1.3 Accounting Terms and Determinations
	 	 	13	 
	 
	ARTICLE II AMOUNT AND TERMS OF THE LOANS AND LETTERS OF CREDIT
	 	 	14	 
	Section 2.1 Revolving Advances
	 	 	14	 
	Section 2.2 Procedure for Making Revolving Advances
	 	 	14	 
	Section 2.3 Interest
	 	 	15	 
	Section 2.4 Limitation of Outstandings
	 	 	17	 
	Section 2.5 Principal and Interest Payment Dates
	 	 	17	 
	Section 2.6 Level Status and Margins
	 	 	17	 
	Section 2.7 Letters of Credit
	 	 	19	 
	Section 2.8 Facility Fee
	 	 	21	 
	Section 2.9 Other Fees
	 	 	21	 
	Section 2.10 Termination or Reduction of the Commitment
	 	 	22	 
	Section 2.11 Voluntary Prepayments
	 	 	22	 
	Section 2.12 Computation of Interest and Fees
	 	 	22	 
	Section 2.13 Payments
	 	 	22	 
	Section 2.14 Payment on Nonbusiness Days
	 	 	23	 
	Section 2.15 Use of Advances and Letters of Credit
	 	 	24	 
	Section 2.16 Yield Protection; Funding Indemnification
	 	 	24	 
	Section 2.17 Taxes
	 	 	25	 
	Section 2.18 Capital Adequacy
	 	 	27	 
	Section 2.19 Joint and Several Liability; Accommodation Party Defenses Waived
	 	 	28	 
	Section 2.20 Swing Line
	 	 	29	 
	Section 2.21 Substitution of Lender
	 	 	31	 
	Section 2.22 Increase of Aggregate Commitment Amount
	 	 	32	 
	 
	ARTICLE III CONDITIONS PRECEDENT
	 	 	33	 
	Section 3.1 Conditions to Effectiveness
	 	 	33	 
	Section 3.2 Initial Conditions Precedent
	 	 	34	 
	Section 3.3 Additional Conditions Precedent to Credit Extensions to Designated Subsidiaries
	 	 	34	 
	Section 3.4 Conditions Precedent to All Credit Extensions
	 	 	35	 
	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES
	 	 	35	 
	Section 4.1 Corporate Existence and Power
	 	 	35	 
	Section 4.2 Authorization of Borrowing; No Conflict as to Law or Agreements
	 	 	36	 
	Section 4.3 Legal Agreements
	 	 	36	 
	Section 4.4 Subsidiaries
	 	 	36	 
	Section 4.5 Financial Condition
	 	 	37	 
	Section 4.6 Adverse Change
	 	 	37	 
	Section 4.7 Litigation
	 	 	37	 

 

 

	 	 	 	 	 
	Section 4.8 Hazardous Substances
	 	 	37	 
	Section 4.9 Regulation U
	 	 	38	 
	Section 4.10 Taxes
	 	 	38	 
	Section 4.11 Burdensome Restrictions
	 	 	38	 
	Section 4.12 Titles and Liens
	 	 	38	 
	Section 4.13 ERISA
	 	 	38	 
	Section 4.14 Investment Company Act
	 	 	39	 
	Section 4.15 Solvency
	 	 	39	 
	Section 4.16 Swap Obligations
	 	 	39	 
	Section 4.17 Insurance
	 	 	39	 
	Section 4.18 Compliance With Laws
	 	 	39	 
	Section 4.19 No Contractual Default
	 	 	39	 
	 
	ARTICLE V AFFIRMATIVE COVENANTS OF THE COMPANY
	 	 	39	 
	Section 5.1 Financial Statements
	 	 	40	 
	Section 5.2 Books and Records; Inspection and Examination
	 	 	41	 
	Section 5.3 Compliance with Laws
	 	 	42	 
	Section 5.4 Payment of Taxes and Other Claims
	 	 	42	 
	Section 5.5 Maintenance of Properties
	 	 	42	 
	Section 5.6 Insurance
	 	 	42	 
	Section 5.7 Preservation of Corporate Existence
	 	 	43	 
	Section 5.8 Use of Proceeds
	 	 	43	 
	 
	ARTICLE VI NEGATIVE COVENANTS
	 	 	43	 
	Section 6.1 Liens
	 	 	43	 
	Section 6.2 Sale of Assets
	 	 	45	 
	Section 6.3 Consolidation and Merger
	 	 	45	 
	Section 6.4 Hazardous Substances
	 	 	46	 
	Section 6.5 Restrictions on Nature of Business
	 	 	46	 
	Section 6.6 Transactions with Affiliates
	 	 	46	 
	Section 6.7 Leverage Ratio
	 	 	46	 
	Section 6.8 Fixed Charge Coverage Ratio
	 	 	46	 
	Section 6.9 Adjusted Net Worth
	 	 	46	 
	Section 6.10 Investments
	 	 	47	 
	Section 6.11 Guarantees
	 	 	48	 
	 
	ARTICLE VII EVENTS OF DEFAULT, RIGHTS AND REMEDIES
	 	 	49	 
	Section 7.1 Events of Default
	 	 	49	 
	Section 7.2 Rights and Remedies
	 	 	51	 
	Section 7.3 Pledge of Cash Collateral Account
	 	 	52	 
	 
	ARTICLE VIII THE ADMINISTRATIVE AGENT
	 	 	53	 
	Section 8.1 Authorization
	 	 	53	 
	Section 8.2 Distribution of Payments and Proceeds
	 	 	53	 
	Section 8.3 Expenses
	 	 	54	 
	Section 8.4 Payments Received Directly by Lenders
	 	 	54	 
	Section 8.5 Indemnification
	 	 	54	 

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	Section 8.6 Exculpation
	 	 	55	 
	Section 8.7 Administrative Agent and Affiliates
	 	 	56	 
	Section 8.8 Credit Investigation
	 	 	56	 
	Section 8.9 Resignation
	 	 	56	 
	Section 8.10 Assignments
	 	 	56	 
	Section 8.11 Participations
	 	 	59	 
	Section 8.12 Limitation on Assignments and Participations
	 	 	60	 
	Section 8.13 Disclosure of Information
	 	 	60	 
	Section 8.14 Titles
	 	 	61	 
	 
	ARTICLE IX MISCELLANEOUS
	 	 	61	 
	Section 9.1 No Waiver; Cumulative Remedies
	 	 	61	 
	Section 9.2 Designation of Designated Subsidiaries
	 	 	61	 
	Section 9.3 Amendments, Etc
	 	 	62	 
	Section 9.4 Notices
	 	 	63	 
	Section 9.5 Costs and Expenses
	 	 	64	 
	Section 9.6 Indemnification by Borrowers
	 	 	64	 
	Section 9.7 Execution in Counterparts
	 	 	65	 
	Section 9.8 Binding Effect, Assignment
	 	 	65	 
	Section 9.9 Governing Law
	 	 	65	 
	Section 9.10 Severability of Provisions
	 	 	65	 
	Section 9.11 Consent to Jurisdiction
	 	 	65	 
	Section 9.12 Waiver of Jury Trial
	 	 	65	 
	Section 9.13 Prior Agreements; Restatement of Existing Credit Agreement
	 	 	66	 
	Section 9.14 General Release
	 	 	66	 
	Section 9.15 Recalculation of Covenants Following Accounting Practices Change
	 	 	66	 
	Section 9.16 Headings
	 	 	66	 
	Section 9.17 Nonliability of Lenders
	 	 	66	 
	Section 9.18 Customer Identification –USA Patriot Act Notice
	 	 	67	 

-iii-

 

CREDIT AGREEMENT

Dated as of June 15, 2007

Sensient Technologies Corporation, a Wisconsin corporation; the Lenders, as defined below; and
Wells Fargo Bank, National Association, a national banking association, as Administrative Agent,
agree as follows:

ARTICLE I

Definitions

Section 1.1 Definitions.

For all purposes of this Agreement, except as otherwise expressly provided or unless the context
otherwise requires, the terms defined in this Article have the meanings assigned to them in this
Article, and include the plural as well as the singular.

     “Accounting Practices Change” means any change in the Company’s accounting practices
that is required under the standards of the Financial Accounting Standards Board.

     “Acquisition Target” means any Person becoming a Subsidiary of the Company after the
date hereof; any Person that is merged into or consolidated with the Company or any
Subsidiary of the Company after the date hereof; or any Person with respect to which all or
a substantial part of that Person’s assets are acquired by the Company or any Subsidiary of
the Company after the date hereof.

     “Act” means the Securities Act of 1933, as amended.

     “Additional Lender” means a financial institution that becomes a Lender pursuant to the
procedures set forth in Section 8.10.

     “Adjusted Net Worth” means, as of the date of any determination, the aggregate amount
of the capital stock accounts (net of treasury stock, at cost), plus (or minus, in the case
of a deficit) (a) the surplus in retained earnings of the Company and its Subsidiaries as
determined in accordance with GAAP, minus (b) all Investments of the Company and its
Subsidiaries other than those specified in paragraphs (a) through (j) of Section 6.10.

     “Administrative Agent” means Wells Fargo acting in its capacity as administrative
agent for itself and the other Lenders hereunder.

     “Advance” means a Revolving Advance or a Swing Line Advance.

     “Affiliate” means, with respect to any Person, any other Person directly or indirectly
controlling, controlled by, or under common control with such Person. A Person shall be
deemed to control another Person if the controlling Person owns 25% or more of the voting
securities (or other ownership interests) of the controlled Person

 

 

or possesses, directly or indirectly, the power to direct or cause the direction of the
management or policies of the controlled Person, whether through ownership of stock, by
contract or otherwise. Unless otherwise specified, “Affiliate” means an Affiliate of the
Company or a Subsidiary.

     “Aggregate Commitment Amount” means $300,000,000, as such amount may be reduced pursuant to
Section 2.10 or increased pursuant to Section 2.22.

     “Agreement” means this Credit Agreement, as it may be amended, modified or restated from time
to time in accordance with Section 9.3.

     “Alternative Currency” means Canadian dollars, English pounds, Euros, Swiss francs, or any
other currency (other than Dollars) requested by any Borrower and acceptable to all of the
Lenders.

     “Alternative Currency Funding” means a Borrowing or any portion thereof that is made in an
Alternative Currency.

     “Alternative Currency Letter of Credit” means a Letter of Credit denominated in an
Alternative Currency.

     “Assignment
Certificate” has the meaning set forth in Section 8.10.

     “Base Rate” means an annual rate equal to the Reference Rate, plus the Base Rate Margin,
which rate shall change when and as the Reference Rate or any component of the Base Rate Margin
changes.

     “Base Rate Funding” means any Borrowing, or any portion of the principal balance of the
Notes, bearing interest at the Base Rate.

     “Base Rate Margin” means a percentage, determined as set forth in Section 2.6.

     “Borrower” means the Company or any Designated Subsidiary. The parties acknowledge that, as of
the date hereof, the Company is the only Borrower hereunder.

     “Borrowing” means a borrowing under Article II consisting of Revolving Advances made to
a Borrower at the same time by each of the Lenders severally.

     “Business Day” means (i) with respect to any borrowing, payment or rate selection of
Eurodollar Rate Fundings, a day (other than a Saturday or Sunday) on which banks generally are
open in Minnesota, California, Wisconsin and New York for the conduct of substantially all of
their commercial lending activities,
interbank wire transfers can be made on the Fedwire system and dealings in United States
dollars or the applicable Alternative Currency, as the case may be, are carried on in the London
interbank market and (ii) for all other purposes, a day (other than a Saturday or Sunday) on
which banks generally are open in Minnesota, California,

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Wisconsin and New York for the conduct of substantially all of their commercial lending
activities and interbank wire transfers can be made on the Fedwire system.

     “Capitalized Lease” means any lease that in accordance with GAAP should be capitalized on the
balance sheet of the lessee thereunder.

     “Cash Collateral Account” means an interest-bearing account maintained with the
Administrative Agent in which funds are deposited pursuant to Section 2.7(h) or Section 7.2(c).

     “Change of Control” means, with respect to any corporation, either (i) the acquisition by any
“person” or “group” (as those terms are used in Sections 13(d) and 14(d) of the Exchange Act) of
beneficial ownership (as defined in Rules 13d-3 and 13d-5 of the SEC, except that a Person shall
be deemed to have beneficial ownership of all securities that such Person has the right to
acquire, whether such right is exercisable immediately or only after the passage of time),
directly or indirectly, of 30% or more of the then-outstanding voting capital stock of such
corporation; or (ii) a change in the composition of the Governing Board of such corporation or any
corporate parent of such corporation such that continuing directors cease to constitute more than
50% of such Governing Board. As used in this definition, “continuing directors” means, as of any
date, (i) those members of the Governing Board of the applicable corporation who assumed office
prior to such date, and (ii) those members of the Governing Board of the applicable corporation
who assumed office after such date and whose appointment or nomination for election by that
corporation’s shareholders was approved by a vote of at least 50% of the directors of such
corporation in office immediately prior to such appointment or nomination.

     “Commitment” means, with respect to each Lender, that Lender’s commitment to make Advances and
participate in Letters of Credit pursuant to Article II.

     “Commitment Amount” means, with respect to each Lender, the amount set forth opposite that
Lender’s name in Exhibit A or on any Assignment Certificate, unless said amount is reduced
pursuant to Section 2.10 or increased pursuant to Section 2.22, in which event it means the
amount to which said amount is reduced or increased.

     “Commitment Termination Date” means June 15, 2012, or the earlier date of termination in
whole of the Commitments pursuant to Section 2.10 or 7.2.

     “Company” means Sensient Technologies Corporation, a Wisconsin corporation and a
party to this Agreement.

     “Compliance Certificate” means a certificate in substantially the form of Exhibit D, or such
other form as the Company and the Lenders may from time to time
agree upon in writing, executed by the chief financial officer, controller, chief accounting
officer or treasurer of the Company, (i) setting forth relevant facts in reasonable detail the
computations as to whether or not the Company is in compliance

-3-

 

with the requirements set forth in the Financial Covenants, (ii) stating that the financial
statements delivered therewith have been prepared in accordance with GAAP, subject, in the case
of interim financial statements, to year-end audit adjustments, and (iii) stating whether or
not such officer has knowledge of the occurrence of any Default or Event of Default hereunder
not theretofore reported or remedied and, if so, stating in reasonable detail the facts with
respect thereto.

     “Credit Extension” means the making of any Advance or the issuance of any Letter of Credit.

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

     “Departing Lender” means a Person that (i) was a Lender under and as defined in the Existing
Credit Agreement immediately prior to the effectiveness of this Agreement, and (ii) is not a
Lender under this Agreement immediately upon the effectiveness of this Agreement.

     “Designated Subsidiary” means any corporate Subsidiary of the Company designated for
borrowing privileges under this Agreement pursuant to Section 9.2.

     “Designation Letter” means a letter in the form of Exhibit H.

     “Dollar Equivalent” means (i) with respect to a Borrowing, Advance or Letter of Credit made
or denominated in Dollars, the amount of such Borrowing, Advance or Letter of Credit, and (ii)
with respect to an Alternative Currency Funding or Alternative Currency Letter of Credit, the
amount in freely-transferable Dollars that the Administrative Agent may purchase for the amount
and in the currency of such Alternative Currency Funding or Alternative Currency Letter of Credit
on the spot market on the day of determination, determined at the Administrative Agent’s
discretion within the period of three Business Days preceding the day of such Alternative
Currency Funding, as of the first day of the Interest Period applicable to such Alternative
Currency Funding, on the date of the issuance of or any draw under such Alternative Currency
Letter of Credit and at such other times as the Administrative Agent shall determine in
accordance with this Agreement.

     “Dollars” means United States Dollars.

     “EBITDA” means, with respect to any period, EBITR with respect to that period, less (to
the extent included in EBITR) Rental Expense, plus (to the extent deducted in determining
net income for purposes of EBITR) depreciation and amortization.

     “EBITR” means, with respect to any period:

	 	(i)	 	(A) the after-tax net income of the Company and its Subsidiaries for such period,
determined on a consolidated basis in accordance with GAAP, excluding (B)
non-operating gains and losses (including

-4-

 

	 	 	 	extraordinary or unusual gains and losses, gains and losses from discontinuance
of operations, gains and losses arising from the sale of assets other than
inventory, and other non-recurring gains and losses)

     plus

	 	(ii)	 	the sum of the following to the extent deducted in arriving at the after-tax net
income determined in clause (i)(A) of this definition (but without duplication for any
item):

	 	(A)	 	Interest Expense,
	 
	 	(B)	 	income tax expense of the Company and its Subsidiaries, and
	 
	 	(C)	 	Rental Expense.

     “Effective Date” means the first date on or after the date hereof on which all conditions
set forth in Section 3.1 have been satisfied.

     “Eligible Lender” means (a) a financial institution organized under the laws of the United
States, or any state thereof, and having a combined capital and surplus of at least $250,000,000;
(b) a commercial bank organized under the laws of any other country which is a member of the
Organization for Economic Cooperation and Development, or a political subdivision of any such
country, and having a combined capital and surplus of at least $250,000,000, provided that such
bank is acting through a branch or agency located in the United States; or (c) a person controlled
by, controlling, or under common control with any entity identified in clause (a) or (b) above.

     “Eligible Subsidiary” means a Subsidiary of the Company that (i) is a corporation or limited
liability company, (ii) is wholly-owned (directly or indirectly) by the Company, and (iii) if
such Subsidiary is a Foreign Subsidiary, has been expressly approved by the Administrative Agent
as a Borrower hereunder.

     “Environmental Law” means the Comprehensive Environmental Response, Compensation and Liability
Act, 42 U.S.C. § 9601 et seq., the Resource Conservation
and Recovery Act, 42 U.S.C. § 6901 et seq., the Hazardous Materials Transportation Act, 49 U.S.C. § 1802 et seq., the Toxic Substances
Control Act, 15 U.S.C. § 2601 et seq., the Federal Water Pollution Control Act, 33 U.S.C. § 1252
et seq., the Clean Water Act, 33 U.S.C. § 1321 et
seq., the Clean Air Act, 42 U.S.C. § 7401 et seq., and any other federal, state, county, municipal, local or other statute, law, ordinance or
regulation which may relate to or deal with human health or the environment, all as may be from
time to time amended.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

-5-

 

     “ERISA Affiliate” means any trade or business (whether or not incorporated) that is, along
with the Company, a member of a controlled group of corporations or a controlled group of trades
or businesses, as described in sections 414(b) and 414(c), respectively, of the Internal Revenue
Code of 1986, as amended.

     “Eurodollar Base Rate” means, with respect to any Interest Period, the rate per annum which
appears under the heading “British Bankers Association LIBOR Rates”  on Reuters page LIBOR01 in the
column designated USD (or such other column and page as may be appropriate with respect to any
Alternative Currency Funding) as of approximately 11:00 a.m. London time on the date two Business
Days before the commencement of such Interest Period as the rate at which dollar deposits (or
deposits in the applicable Alternative Currency) in immediately available funds are offered on the
London interbank dollar market for a term substantially equivalent to the applicable Interest
Period; provided, however, that if such page is no longer available, the Eurodollar Base Rate
shall be determined by the Administrative Agent on the basis of the offered rate on such other
page or other service acceptable to the Required Lenders that displays an average British Bankers
Association LIBOR rate for deposits in United States dollars (or deposits in the applicable
Alternative Currency) (for delivery on the first day of such Interest Period) with a term
equivalent to such Interest Period.

     “Eurodollar Rate” means the annual rate equal to the sum of (i) the rate obtained by dividing
(a) the applicable Eurodollar Base Rate for funds to be made available on the first day of any
Interest Period in an amount approximately equal to the amount for which a Eurodollar Rate has
been requested and maturing at the end of such Interest Period, by (b) a percentage equal to 100%
minus the Federal Reserve System reserve requirement (expressed as a percentage) imposed under
Regulation D on Eurocurrency liabilities, and (ii) the Eurodollar Rate Margin.

     “Eurodollar Rate Funding” means any Borrowing, or any portion of the principal balance of
the Notes, bearing interest at a Eurodollar Rate (including any Alternative Currency Funding).

     “Eurodollar Rate Margin” means a percentage, determined as set forth in Section 2.6.

     “Event of Default” has the meaning specified in Section 7.1.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “Existing Credit Agreement” means the Credit Agreement dated September 2, 2004 to which the
Company, Wells Fargo, as administrative agent, and the Lenders (as defined therein) are parties,
as such Credit Agreement has been amended and modified prior to the date hereof.

     “Facility Fee Rate” means a percentage, determined as set forth in Section 2.6.

-6-

 

     “Federal Funds Rate” means at any time an interest rate per annum equal to the weighted
average of the rates for overnight federal funds transactions with members of the Federal
Reserve System arranged by federal funds brokers, as published for such day by the Federal
Reserve Bank of New York, or, if such rate is not so published for any day which is a Business
Day, the average of the quotations for such day for such transactions received by the
Administrative Agent from three federal funds brokers of recognized standing selected by it, it
being understood that the Federal Funds Rate for any day which is not a Business Day shall be
the Federal Funds Rate for the next preceding Business Day.

     “Fee Letter” means the separate agreement between the Company and the Administrative Agent,
setting forth the terms of certain fees to be paid by the Company to the Administrative Agent
for the Administrative Agent’s own behalf or for the benefit of the Lenders, as more fully set
forth therein.

     “Financial Covenant” means any of the Company’s obligations set forth in Sections 6.7,
6.8 and 6.9.

     “Fixed Charge Coverage Ratio” means, as of the end of any fiscal quarter of the Company, the
ratio of EBITR to the sum of Interest Expense and Rental Expense, determined with respect to the
Company and its Subsidiaries for the period of four consecutive fiscal quarters ending on such
quarter-end.

     “Foreign Subsidiary” means a Subsidiary of the Company that is organized under the laws of a
jurisdiction outside of the United States of America (including any state or territory thereof and
the District of Columbia) and that is not dually incorporated under the laws of the United States
of America, any state thereof or the District of Columbia.

     “GAAP” means generally accepted accounting principles as in effect from time to time applied
on a basis consistent with the accounting practices applied in the financial statements of the
Company referred to in Section 4.5, except for changes concurred in by Company’s independent
public accountants and disclosed in Company’s financial statements or the notes thereto.

     “Governing Board” means, with respect to any corporation, limited liability company or
similar Person, the board of directors, board of governors or other body or entity that sets
overall institutional direction for such Person.

     “Hazardous Substance” means any asbestos, urea-formaldehyde, polychlorinated
biphenyls (“PCBs”), nuclear fuel or material, chemical waste, radioactive material,
explosives, known carcinogens, petroleum products and by-products and other dangerous,
toxic or hazardous pollutants, contaminants, chemicals, materials or substances listed or
identified in, or regulated by, any Environmental Law.

-7-

 

     “Interest Expense” means, with respect to any period, the aggregate interest expense
(including capitalized interest) of the Company and its Subsidiaries (determined on a
consolidated basis) for such period, including but not limited to the interest portion of any
Capitalized Lease.

     “Interest Period” means, with respect to any Eurodollar Rate Funding, a period of one, two,
three or six months beginning on a Business Day, as elected by a
Borrower; provided, however, that
if an Interest Period would otherwise end on a day which is not a Business Day, such Interest
Period shall end on the next following Business Day (unless such next following Business Day is
the first Business Day of a calendar month, in which case such Interest Period shall end on the
next preceding Business Day).

     “Investment” means any stock or other securities or evidence of indebtedness of, loans or
advances to, or other interest in, any Person.

     “Investment Company Act” means the Investment Company Act of 1940, as amended.

     “Issuing Bank” means Wells Fargo, acting as the bank issuing Letters of Credit.

     “L/C Amount” means the sum of (i) the aggregate face amount of any issued and outstanding
Letters of Credit, plus (ii) amounts drawn under Letters of Credit for which the Lenders have
neither been reimbursed nor effected a Borrowing.

     “L/C Application” has the meaning set forth in Section 2.7(b).

     “L/C Sublimit” means $20,000,000.

     “Lender Party” means the Lenders, the Administrative Agent, the Swing Line Lender and the
Issuing Bank.

     “Lenders” means
Wells Fargo, acting on its own behalf and not as Administrative Agent, each of the undersigned banks and any financial institution that becomes a
Lender pursuant to the procedures set forth in Section 8.10, collectively.

     “Letter of Credit” has the meaning set forth in Section 2.7(a).

     “Level Status” means a level (designated “Level 1”, “Level 2”, and so on) determined
pursuant to Section 2.6(c).

     “Leverage Ratio” means, as of the end of any fiscal quarter of the Company, the ratio of (A)
Total Funded Debt as of that quarter-end, to (B) EBITDA during the period of four fiscal
quarters ending on that quarter-end, all determined with respect to the Company and its
Subsidiaries on a consolidated basis.

     “Lien” means any mortgage, deed of trust, lien, pledge, security interest or other charge or
encumbrance, of any kind whatsoever, including but not limited to the

-8-

 

interest of the lessor or titleholder under any Capitalized Lease, title retention contract or
similar agreement.

     “Loan Documents” means this Agreement, the Notes, any L/C Application, the Fee Letter and
any Designation Letter.

     “Material Adverse Change” means a material adverse change in the business, condition
(financial or otherwise), or operations of the Company and its Subsidiaries taken as a whole.

     “Maximum Aggregate Commitment Amount” means $375,000,000, unless said amount is reduced
pursuant to Section 2.10, in which event it means the amount to which said amount is reduced.

     “Moody’s” means Moody’s Investors Service, Inc.

     “Multiemployer Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of
ERISA.

     “Note” means a Revolving Note or the Swing Line Note.

     “Obligations” means each and every debt, liability and obligation of every type and
description arising under any of the Loan Documents which any Borrower may now or at any time
hereafter owe to any Lender or the Administrative Agent, whether such debt, liability or
obligation now exists or is hereafter created or incurred, whether it is direct or indirect, due
or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or
sole, joint, several or joint and several, including but not limited to principal of and interest
on the Notes and all fees due under this Agreement, the Fee Letter or any other Loan Document.

     “Off-Balance Sheet Liability” of a Person means (i) any repurchase obligation or liability of
such Person with respect to accounts or notes receivable sold by such Person, (ii) any liability
under any Sale and Leaseback Transaction which is not a Capitalized Lease, and (iii) all
Synthetic Lease Obligations of such Person.

     “Organizational Documents” means, (i) with respect to any corporation, the articles of
incorporation and bylaws of such corporation, (ii) with respect to any partnership, the
partnership agreement of such partnership, (iii) with respect to any limited liability company,
the articles of organization and operating agreement of such company, and (iv) with respect to
any entity, any and all other shareholder, partner or member control agreements and similar
organizational documents relating to such entity.

     “Outstandings” means, at any time, an amount equal to the sum of (i) the aggregate
principal balance of the Notes then outstanding, and (ii) the L/C Amount then outstanding.

-9-

 

     “Participating Affiliate” means, (a) with respect to any Lender, (i) an Affiliate of such
Lender or (ii) any entity (whether a corporation, partnership, trust or otherwise) that is
engaged in making, purchasing, holding or otherwise investing in bank loans and similar
extensions of credit in the ordinary course of its business and is administered or managed by a
Lender or an Affiliate of such Lender and (b) with respect to any Lender that is a fund which
invests in bank loans and similar extensions of credit, any other fund that invests in bank loans
and similar extensions of credit and is managed by the same investment advisor as such Lender or
by an Affiliate of such investment advisor.

     “Percentage” means, with respect to each Lender, the ratio of (i) that Lender’s Commitment
Amount, to (ii) the aggregate Commitment Amounts of all of the Lenders. For purposes of this
definition only, following the Commitment Termination Date, each Lender’s Commitment Amount shall
be deemed to be the principal balance outstanding of that Lender’s Revolving Note.

     “Permitted Swap Obligations” means all obligations (contingent or otherwise) of the Company
or any Subsidiary thereof existing or arising under Swap Contracts, provided that each of the
following criteria is satisfied: (a) such obligations are (or were) entered into by such Person
or its Subsidiaries in the ordinary course of business for the purpose of directly mitigating
risks associated with liabilities, commitments or assets held or to be held by such Person and
not for purposes of speculation or taking a “market view;” and (b) such Swap Contracts do not
contain any provision (“walk-away” provision) exonerating the non-defaulting party from its
obligations to make payments on outstanding transactions to the defaulting party.

     “Person” means any individual, corporation, partnership, limited liability company,
joint venture, association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.

     “Plan” means an employee benefit plan or other plan established or maintained by the Company
or any Subsidiary or ERISA Affiliate and covered by Title IV of ERISA.

     “Prime Rate” means, at any time, the rate of interest most recently announced by Wells Fargo
at its principal office as its “prime rate” or, if Wells Fargo ceases to announce a rate so
designated, any similar successor rate designated by Wells Fargo. Such rate is one of Wells
Fargo’s base rates and serves as the basis upon which effective rates of interest are calculated
for those loans making reference thereto, and is evidenced by the recording thereof in such
publication or publications as Wells Fargo may designate.

     “Reference Debt” means the Company’s non-credit-enhanced long-term indebtedness that is
not subordinated to any other long-term indebtedness of the Company.

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     “Reference Debt Rating Level” means a level (designated “RDR1”, “RDR2”, and so on) determined
pursuant to Section 2.6(b).

     “Reference Rate” means, at any time, the greater of:

               (a) the Prime Rate,

               or

               (b) the Federal Funds Rate, plus 50 basis points (0.50%).

     “Rental Expense” means, with respect to any period, the aggregate amount of rental payments
made by the Company and its Subsidiaries (determined on a consolidated basis) for such period
with respect to operating leases.

     “Reportable Event” means (i) a “reportable event,” described in Section 4043 of ERISA and the
regulations issued thereunder, in respect of any Plan, as to which notice is required to be
given to the Pension Benefit Guaranty Corporation, (ii) a withdrawal from any Plan, as described
in Section 4063 of ERISA, (iii) an action to terminate a Plan for which a notice is required to
be filed under Section 4041 of ERISA, or (iv) a complete or partial withdrawal from a
Multiemployer Plan as described in Sections 4203 and 4205 of ERISA.

     “Required Lenders” means one or more Lenders (including, where relevant, Additional
Lenders) having an aggregate Percentage greater than 50%.

     “Revolving Advance” means an advance by the Lenders to any Borrower pursuant to Section
2.1.

     “Revolving Note” has the meaning set forth in Section 2.1.

     “S&P” means Standard & Poors Ratings Group, a division of McGraw-Hill Corporation.

     “SEC” means the Securities and Exchange Commission.

     “Sale and Leaseback Transaction” means any arrangement, directly or indirectly, with any
Person whereby a seller or transferor shall sell or otherwise transfer any real or personal
property and concurrently therewith lease, or repurchase under an extended purchase contract,
conditional sales or other title retention agreement, the same or substantially similar property.

     “Solvent” means, with respect to any Person, that as of the date of determination (i) the
fair market value of the property of such Person is (A) greater than the total liabilities
(including contingent liabilities) of such Person, and (B) not less than the amount that will be
required to pay the probable liabilities on such Person’s debts as they come due, considering
all financing alternatives and potential asset sales reasonably available to such Person; (ii)
such Person’s capital
is not unreasonably small in relation to its business or any contemplated or undertaken

-11-

 

transaction; (iii) such Person does not intend to incur, or believe (nor should it reasonably
believe) that it will incur, debts beyond its ability to pay such debts as they become due; and
(iv) such Person is “solvent” within the meaning given that term and similar terms under applicable
laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount
of any contingent liability at any time shall be computed as the amount that, in light of all of
the facts and circumstances existing at such time, represents the amount that would reasonably be
expected to become an actual or matured liability.

     “Subsidiary” means (i) any corporation of which more than 50% of the outstanding shares of
capital stock having general voting power under ordinary circumstances to elect a majority of the
Governing Board of such corporation, irrespective of whether or not at the time stock of any other
class or classes shall have or might have voting power by reason of the happening of any
contingency, is at the time directly or indirectly owned by the Company, by the Company and one or
more other Subsidiaries, or by one or more other Subsidiaries, (ii) any partnership of which more
than 50% of the partnership interest therein are directly or indirectly owned by the Company, by
the Company and one or more other Subsidiaries, or by one or more other Subsidiaries, and (iii)
any limited liability company or other form of business organization the effective control of
which is held by the Company, the Company and one or more other Subsidiaries, or by one or more
other Subsidiaries.

     “Swap Contracts” means any agreement, whether or not in writing, relating to any transaction
that is a rate swap, basis swap, forward rate transaction, commodity swap, commodity option,
equity or equity index swap or option, bond, note or bill option, interest rate option, forward
foreign exchange transaction, cap, collar or floor transaction, currency swap, cross-currency
rate swap, swaption, currency option or any other similar transaction (including any option to
enter into any of the foregoing) or any combination of the foregoing, and, unless the context
otherwise clearly requires, any master agreement relating to or governing any or all of the
foregoing.

     “Swing Line Advance” has the meaning provided in Section 2.20.

     “Swing Line
Lender” has the meaning provided in Section 2.20.

     “Swing Line Note” has the
meaning provided in Section 2.20.

     “Synthetic Lease Obligation” means the monetary obligation of a Person under (i) a so-called
synthetic or off-balance sheet or tax retention lease or (ii) an agreement for the use or
possession of property creating obligations that do not appear on the balance sheet of such Person
but which, upon the insolvency or bankruptcy of such Person, would be characterized as
indebtedness of such Person (without regard to accounting treatment). The amount of Synthetic
Lease Obligations of any Person under any such lease or agreement shall be the amount which would
be shown as a liability on a balance sheet of such Person prepared in accordance with GAAP if such
lease or agreement were accounted for as a Capitalized Lease.

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     “Total Funded Debt” of any Person means (without duplication) (i) all indebtedness of
such Person for borrowed money; (ii) the deferred and unpaid balance of the purchase price
owing by such Person on account of any assets or services purchased (other than trade
payables and other accrued liabilities incurred in the ordinary course of business) if such
purchase price is (A) due more than nine months from the date of incurrence of the
obligation in respect thereof or (B) evidenced by a note or a similar written instrument;
(iii) all Capitalized Lease obligations; (iv) all indebtedness secured by a Lien on any
property owned by such Person, whether or not such indebtedness has been assumed by such
Person or is nonrecourse to such Person; (v) notes payable and drafts accepted representing
extensions of credit whether or not representing obligations for borrowed money (other than
such notes or drafts for the deferred purchase price of assets or services to the extent
such purchase price is excluded from clause (ii) above); (vi) indebtedness evidenced by
bonds, notes or similar written instrument; (vii) the face amount of all letters of credit
and bankers’ acceptances issued for the account of such Person, and without duplication,
all drafts drawn thereunder (other than such letters of credit, bankers’acceptances and
drafts for the deferred purchase price of assets or services to the extent such purchase
price is excluded from clause (ii) above); (viii) net obligations of such Person under Swap
Contracts which constitute interest rate agreements or currency agreements; (ix) guaranty
obligations of such Person with respect to indebtedness for borrowed money of another
Person (including Affiliates); and (x) Off-Balance Sheet Liabilities; provided, however,
that in no event shall any calculation of Total Funded Debt of the Company include deferred
taxes.

     “Welfare Plan” means a “welfare plan” as defined in Section 3(1) of ERISA.

     “Wells Fargo” means Wells Fargo Bank, National Association, a national banking
association and a party to this Agreement.

Section 1.2 Times

All references to times of day in this Agreement shall be references to Minneapolis, Minnesota
time unless otherwise specifically provided.

Section 1.3 Accounting Terms and Determinations

Unless otherwise specified herein, all accounting terms 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;
provided that in the event of any
Accounting Practices Change, then the Company’s compliance with the covenants set forth in the
Financial Covenants shall be determined on the basis of generally accepted accounting principles in
effect
immediately before giving effect to the Accounting Practices Change, until such covenants are
amended in a manner satisfactory to the Company and the Required Lenders in accordance with Section
9.15 hereof.

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ARTICLE II

Amount and Terms of the Loans and Letters of Credit

Section 2.1 Revolving Advances.

Each Lender agrees, severally but not jointly, on the terms and subject to the conditions
hereinafter set forth, to make Revolving Advances to the Borrowers from time to time during the
period from the date hereof to and including the Commitment Termination Date in an aggregate amount
not to exceed at any time outstanding that Lender’s Commitment Amount, less that Lender’s
Percentage of the sum of the then-outstanding L/C Amount. The total amount of the Revolving
Advances outstanding hereunder shall not exceed the Aggregate
Commitment Amount minus any
then-outstanding Swing Line Advances and the L/C
Amount. Within the limits of each Lender’s Commitment Amount, the Borrowers may borrow, prepay
pursuant to Section 2.11 and reborrow under this Section 2.1. If so requested by any Lender, the
Company’s obligation to repay Revolving Advances made by that Lender shall be evidenced by a single
promissory note of the Company (each, a “Revolving Note”) payable to the order of that Lender,
substantially in the form of Exhibit B hereto. The Revolving Advances shall bear interest on the
unpaid principal amount thereof from the date thereof until paid as set forth in Section 2.3.

Section 2.2 Procedure for Making Revolving Advances.

Each Borrowing under Section 2.1 shall occur following written notice from a Borrower to the
Administrative Agent or telephonic request from any person purporting to be authorized to request
Advances on behalf of a Borrower. Each such notice or request shall specify (i) the identity of the
Borrower (if other than the Company), (ii) the date of the requested Borrowing, (iii) the amount
thereof, (iv) if any portion of such Borrowing will bear interest at a Eurodollar Rate or be made
in an Alternative Currency, the Interest Period selected by the applicable Borrower with respect
thereto, and (v) if such Borrowing will be made in an Alternative Currency, the Alternative
Currency in which such Borrowing will be made. Such notice or request must be received by the
Administrative Agent not later than 11:00 a.m. on the day on which such Borrowing is to occur or,
if all or any portion of the Borrowing will bear interest at a Eurodollar Rate or be made in an
Alternative Currency, not later than three Business Days prior to the date on which such Borrowing
is to occur.
Concurrent with any such notice or request, the applicable Borrower shall deliver to the
Administrative Agent in writing (which may be by facsimile transmission) the certificate required
by Section 3.4(b). Upon receiving a request for a Borrowing under Section 2.1, and in any event not
later than 1:30 p.m. on the date that the requested Borrowing is to occur, or, if the requested
Borrowing is to bear interest at a Eurodollar Rate or be made in an Alternative Currency, the close
of business on the
day that the request is received, the Administrative Agent will notify the Lenders of the amount of
the requested Borrowing, the amount of each Lender’s Revolving Advance with respect thereto, and,
if applicable, the fact that the Borrowing will bear interest at a Eurodollar Rate and the Interest
Period selected by the applicable Borrower. Upon fulfillment of the applicable conditions set forth
in Article III, each Lender shall remit its Percentage of the requested Borrowing to the
Administrative Agent in immediately available funds. So long as a Lender receives notice of

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the requested Borrowing prior to 1:30 p.m. on the date that the requested Borrowing is to occur,
or, if the requested Borrowing is to bear interest at a Eurodollar Rate, the close of business on
the day that the request is received, that Lender will make its Revolving Advance with respect to
that Borrowing available to the Administrative Agent by wire transfer of immediately available
funds to the Administrative Agent not later than 3:00 p.m. on the date called for in such notice.
Prior to the close of business on the day of the requested Borrowing, the Administrative Agent
shall disburse such funds by crediting the same to the applicable Borrower’s demand deposit account
maintained with the Administrative Agent or in such other manner as the Administrative Agent and
the applicable Borrower may from time to time agree. The Administrative Agent shall have no
obligation to disburse the requested Borrowing if any condition set forth in Article III has not
been satisfied on the day of the requested Borrowing. Each Borrowing shall be in the amount of
$500,000 or an integral multiple of $100,000 greater than $500,000; provided, however, that any
portion of such Borrowing bearing interest at a Eurodollar Rate must be in the amount of $3,000,000
or an integral multiple of $1,000,000 greater than $3,000,000. The applicable Borrower shall
promptly confirm each telephonic request for an Advance by executing and delivering an appropriate
confirmation certificate to the Administrative Agent. However, the Borrowers shall be
 obligated to
repay all Advances for which any Borrower actually received the moneys (including but not limited
to all Advances the proceeds of which were deposited in any account of a Borrower) or in respect of
which the Administrative Agent reasonably believed the person requesting the same to be authorized
to do so, notwithstanding the fact that the person requesting the same was not in fact authorized
so to do. Any request for an Advance shall be deemed to be a representation that the statements set
forth in Section 3.4 are correct.

Section 2.3 Interest

     (a) The Revolving Advances shall bear interest on the unpaid principal amount thereof
from the date thereof until paid as set forth in this Section 2.3.

     (b) Except as set forth in this Section, the principal balance of each Revolving
Advance shall bear interest at the Base Rate.

     (c) The principal balance of each Alternative Currency Funding shall bear interest at
the Eurodollar Rate applicable thereto during the Interest Period applicable thereto.

     (d) At the election of a Borrower, which may be exercised from time to time, a
Borrower may request in writing or by telephone that a Eurodollar Rate be applicable for
the portion of the outstanding principal balance of the Revolving Advances to that Borrower
(including any Revolving Advance requested or to be requested) and for the Interest Period
indicated by
that Borrower in its request; provided, however, that in no event shall more than
eight Eurodollar Rate Fundings be outstanding at any one time as to all Borrowers combined;
and provided further that this paragraph (d) shall not be applicable to Alternative
Currency Fundings. The portion of the outstanding balance of the Revolving Advances for
which a Eurodollar

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Rate is requested (i) must be in the amount (as to all Revolving Advances combined)
of $3,000,000 or an integral multiple of $1,000,000 greater than $3,000,000, and (ii) if
such request relates to Revolving Advances already outstanding, must, on the first day of
the applicable Interest Period, either (1) bear interest at the Base Rate, or (2) bear
interest at a Eurodollar Rate with respect to which the Interest Period expires on such
first day. In no event may a Borrower select an Interest Period extending beyond the
Commitment Termination Date. A request for a Eurodollar Rate (i) must be received by the
Administrative Agent before 10:00 a.m. on the day three Business Days before the first day
of the proposed Interest Period (and the Administrative Agent shall give the Lenders prompt
notice thereof), and (ii) may not be rescinded by a Borrower after such request has been
made. Subject to the terms and conditions set forth herein, the applicable Eurodollar Rate
shall (subject to fluctuations in the applicable Eurodollar Rate Margin) be the interest
rate applicable for the proposed Interest Period to the portion of the outstanding
principal balance of the Revolving Advances to which the Eurodollar Rate request related
(and the remaining part of the principal balance of the Revolving Advances, if any, shall
continue to bear interest at the rate or rates previously applicable to such amounts). At
the termination of such Interest Period, the interest rate applicable to the portion of the
principal balance of the Revolving Advances to which the Eurodollar Rate request was
applicable shall revert to the Base Rate unless a new Eurodollar Rate request is made by a
Borrower in accordance with this Agreement. Notwithstanding anything to the contrary in
this Section, (i) the Administrative Agent shall have no obligation to permit the
application of a Eurodollar Rate for any Interest Period if any Lender, in its sole
discretion, determines that deposits in amounts equal to the requested amount, maturing at
the end of the proposed Interest Period are not readily available to such Lender from major
banks in the London interbank market, and (ii) without the consent of the Required Lenders,
the Administrative Agent will not permit the application of a Eurodollar Rate for any
interest period if a Default or Event of Default has occurred and is continuing when the
request for the Eurodollar Rate is made. Absent manifest error, the records of the
Administrative Agent shall be conclusive evidence as to the amount of the Revolving
Advances bearing interest at a Eurodollar Rate, the applicable Eurodollar Rate and the date
on which the Interest Period applicable to such Eurodollar Rate expires.

     (e) If any Lender, in its sole discretion, determines that it is unlawful for it to
continue to maintain its portion of any Eurodollar Rate Funding outstanding at the time of
such determination, such Lender may, by notice to the Administrative Agent and the Company,
require the immediate repayment thereof or, if legally permissible, convert its portion of
such Eurodollar Rate Funding to a Revolving Advance bearing interest at the Base Rate in an
amount equal to the Dollar Equivalent of such portion of the applicable Eurodollar Rate
Funding. Any such Revolving Advance shall be
applied to the prepayment of that Lender’s portion of such Eurodollar Rate Funding,
but (i) no amount shall be required to be paid under Section 2.16 on account of such
prepayment, and (ii) except as provided in Section 7.2 upon acceleration of the

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Obligations, no interest shall be due and payable with respect to such Revolving
Advance until the end of the applicable Interest Period.

     (f) Unless the Borrowers repay an Alternative Currency Funding on the expiration of
the Interest Period applicable thereto in the applicable Alternative Currency (whether
through a new Borrowing in the applicable Alternative Currency or otherwise), the
outstanding principal balance of such Alternative Currency Funding shall be converted from
the applicable Alternative Currency to Dollars on the expiration of such Interest Period.
Upon any such conversion to Dollars, the Dollar Equivalent resulting from such conversion
shall be deemed a Borrowing by the applicable Borrower from the Lenders hereunder
consisting of Revolving Advances by each Lender in proportion to their shares of the
corresponding Alternative Currency Funding. The principal balance of such Borrowing shall
initially bear interest at the Base Rate, but the rate of interest that applies to such
Borrowing may be converted in accordance with paragraph (d).

     (g) If, as a result of any conversion of an Alternative Currency Funding to Dollars
pursuant to paragraph (f) or any conversion of the Lenders’reimbursement obligation with
respect to any Alternative Currency Letter of Credit pursuant to Section 2.7, the sum of
the Dollar Equivalent of all Outstandings exceeds the aggregate Commitment Amounts of the
Lenders, the Borrowers shall on demand by the Administrative Agent repay the amount of such
excess, together with interest thereon from the date of such conversion until payment at
the Base Rate.

Section 2.4 Limitation of Outstandings.

In no event shall the aggregate Outstandings at any time exceed the aggregate of the Commitment
Amounts.

Section 2.5 Principal and Interest Payment Dates.

     (a) Interest. Interest accruing at the Base Rate shall be due and payable on the last
day of each March, June, September and December and on the Commitment Termination Date.
Interest accruing at a Eurodollar Rate shall be due and payable on the last day of the
applicable Interest Period or, if an Interest Period is in excess of three months, on the
date that is three months
after the beginning of the Interest Period and after each such interest payment date
thereafter, and on the last day of the Interest Period and on the Commitment Termination
Date.

     (b) Principal. The principal balance of the Revolving Advances shall be due and
payable in full on the Commitment Termination Date.

Section 2.6 Level Status and Margins.

     (a) Interpretation: “lower”. In making the determinations set forth below, references
to a “lower”row refer to the row that is beneath another row in the

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applicable table, so that (for example) RDR2 is lower than RDR3 in the table in
paragraph (b) below.

     (b) Step One: Determining the Reference Debt Rating Level. The Company’s Reference Debt
Rating Level shall be determined on the basis of the rating accorded the Reference Debt by
S&P and Moody’s, in accordance with the following table:

	 	 	 	 	 
	 	 	S&P	 	Moody’s
	RDR5

	 	Less than BB+
	 	Less than Ba1
	RDR4

	 	BB+ or better, but less than BBB-
	 	Ba1 or better, but less than Baa3
	RDR3

	 	BBB- or better, but less than BBB
	 	Baa3 or better, but less than Baa2
	RDR2

	 	BBB or better, but less than BBB+
	 	Baa2 or better, but less than Baa1
	RDR1

	 	BBB+ or better
	 	Baa1 or better

If the ratings applied by S&P and Moody’s differ such that they do not fall within a single row
in the table set forth above, (i) if the applicable rows are adjacent to each other, the
Reference Debt Rating Level shall be based on the lower of the applicable rows, and (ii) in all
other cases, the Reference Debt Rating Level in effect shall be based on the row immediately
above the lower of such rows. In making the determinations under this paragraph:

	 	(i)	 	If either S&P or Moody’s changes the meaning or designation for its ratings referenced
in this paragraph, the criteria for the Reference Debt Rating Level in the foregoing table
shall be adjusted in such manner as the Required Lenders may reasonably determine to
correspond with the applicable rating designations used by S&P or Moody’s, as the case may
be, in effect on the date hereof.
	 
	 	(ii)	 	If either S&P or Moody’s, but not both of them, ceases to rate the
Reference Debt, the determination in this paragraph shall be made on the basis of the
rating accorded by whichever one continues to rate such debt.
	 
	 	(iii)	 	If neither S&P nor Moody’s rates the Reference Debt, the Company’s Reference Debt
Rating Level shall be deemed to be at RDR5.

     (c) Step Two: Determining the Company’s Level Status. The Company’s
Level Status shall be determined based on the Company’s Reference Debt Rating Level and
Leverage Ratio, in accordance with the following table:

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	 	 	Reference Debt Rating Level	 	Leverage Ratio
	Level 5

	 	RDR5
	 	Greater than or equal to 3.25 to 1
	Level 4

	 	RDR4
	 	Greater than or equal to 2.75 to 1, but less than 3.25 to 1
	Level 3

	 	RDR3
	 	Greater than or equal to 2.25 to 1, but less than 2.75 to 1
	Level 2

	 	RDR2
	 	Greater than or equal to 1.75 to 1, but less than 2.25 to 1
	Level 1

	 	RDR1
	 	Less than 1.75 to 1

If the Company’s Reference Debt Rating Level and its Leverage Ratio fall in different rows above,
the Company’s Level Status shall be based on the lower of such rows.

     (d) Step Three: Determining the Rates. The Base Rate Margin, Eurodollar Rate Margin and
Facility Fee Rate at any time shall be determined from time to time on the basis of the Company’s
Level Status, in accordance with the following table, with each change to a rate or margin to be
immediately effective upon the announcement or determination of the related change in the
Company’s Leverage Ratio or Reference Debt Rating Level:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Base Rate Margin	 	Eurodollar Rate Margin	 	Facility Fee Rate
	Level 5
	 	 	0	%	 	 	0.925	%	 	 	0.200	%
	Level 4
	 	 	0	%	 	 	0.725	%	 	 	0.150	%
	Level 3
	 	 	0	%	 	 	0.530	%	 	 	0.120	%
	Level 2
	 	 	0	%	 	 	0.450	%	 	 	0.090	%
	Level 1
	 	 	0	%	 	 	0.350	%	 	 	0.080	%

     (e) Default Rates. Upon the occurrence of any Event of Default, and so long as such
Event of Default continues without written waiver thereof by the Lenders, a default
increment equal to 200 basis points (2.00%) shall be added to the Base Rate Margin,
Eurodollar Rate Margin and Facility Fee Rate. Inclusion of such default increment in
calculating the Base Rate Margin, Eurodollar Rate Margin and Facility Fee Rate shall not be
deemed a waiver or excuse of any such Event of Default.

Section 2.7 Letters of Credit.

     (a) Any Borrower may from time to time request that the Issuing Bank issue one or more
letters of credit (each, a “Letter of Credit”) for the account of that Borrower. No Letter
of Credit shall be issued if (i) the Dollar Equivalent of the face amount of that Letter of
Credit, together with the sum of the then-applicable L/C Amount and the aggregate principal
balance of the Advances then outstanding, would exceed the aggregate Commitment Amounts, or
(ii) the Dollar Equivalent of the face amount of that Letter of Credit, together with the
then-applicable L/C Amount, would exceed the L/C Sublimit.

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     (b) At least three days prior to the issuance of each Letter of Credit, the
applicable Borrower shall execute a letter of credit application and reimbursement
agreement in the Issuing Bank’s standard form, as required by the Issuing Bank (an “L/C
Application”).

     (c) Each Letter of Credit shall be denominated in Dollars or an Alternative Currency
specified by the applicable Borrower in its application and reimbursement agreement.

     (d) Each Letter of Credit shall be issued in a form acceptable to the Issuing Bank.
Unless otherwise approved by all of the Lenders, no Letter of Credit shall have an initial
or any renewal term ending more than one year after the date of issuance or ending later
than five Business Days prior to the Commitment Termination Date.

     (e) A letter of credit fee shall be due and payable to the Administrative Agent for
the benefit of the Lenders in connection with each Letter of Credit. The letter of credit
fee payable with respect to each standby Letter of Credit shall be computed at an annual
rate equal to the applicable Eurodollar Rate Margin in effect from time to time, applied to
the face amount of such Letter of Credit outstanding from time to time, from and including
the date of issuance of such Letter of Credit until the expiration thereof, payable in
arrears on the last day of each calendar quarter and on the expiration date of such Letter
of Credit. The letter of credit fee payable with respect to each commercial Letter of
Credit shall be computed at an annual rate equal to one half (50%) of the applicable
Eurodollar Rate Margin in effect on the issuance date, applied to the initial face amount
of such Letter of Credit, payable on the date of issuance. In addition to the applicable
letter of credit fee, a fronting fee shall be due and payable to the Administrative Agent
for the account of the Issuing Bank in connection with each Letter of Credit, in the amount
specified in the Fee Letter. In addition, the Borrowers shall pay or reimburse the Issuing
Bank for such additional fees as are specified in the Fee Letter and for such normal and
customary costs and expenses as are incurred or charged by the Issuing Bank in issuing,
effecting payment under, amending or otherwise administering any Letter of Credit.

     (f) The Borrowers shall pay the amount of each draft drawn under any Letter of Credit
to the Issuing Bank on demand (or, if demand is not earlier made, on the Commitment
Termination Date), together with interest at the Base Rate from the date that such draft is
paid by the Issuing Bank until payment of such amount in full. The Issuing Bank shall
provide notice to the Company or the applicable Borrower of payment of the draft within one
Business Day of such payment. The Issuing Bank may (at its option) charge any deposit
account maintained by any Borrower with the Issuing Bank for the amount of any draft drawn
under a Letter of Credit. Unless the Borrowers make such payment with respect to an
Alternative Currency Letter of Credit in the applicable Alternative Currency on the same
Business Day as the day of payment of such draft by the Issuing Bank, the
Borrowers’obligation to pay the amount of such draft shall be converted from the applicable
Alternative Currency to Dollars following such payment by the Issuing Bank.

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     (g) Each Lender shall be deemed to hold a participation interest in each Letter
of Credit equal to that Lender’s Percentage of the face amount of that Letter of Credit. If
the Issuing Bank makes any payment pursuant to the terms of any Letter of Credit and is not
promptly reimbursed, the Issuing Bank may request that each other Lender pay such Lender’s
Percentage of the unreimbursed amount (which amount shall, in the case of an Alternative
Currency Letter of Credit, have been converted to Dollars as set forth in Section
2.7(f)). Upon receipt of any such request prior to 1:30 p.m. on a Business Day, the
recipient shall be unconditionally and irrevocably obligated to pay its Percentage of the
unreimbursed amount to the Issuing Bank in immediately available funds prior to 3:00 p.m.
on such date. Notices received after
1:30 p.m. shall be deemed to have been received on the
following Business Day. If payment is not made by a Lender when due hereunder, interest on
the unpaid amount shall accrue from and including the date of the Issuing Bank’s request to
the date of payment at the Federal Funds Rate. After making any payment to the Issuing Bank
under this subsection in connection with a particular Letter of Credit, a Lender shall be
entitled to participate to the extent of its Percentage in the related reimbursements
received by the Issuing Bank from the Borrowers or otherwise. Upon receiving any such
reimbursement, the Issuing Bank will distribute to each Lender its Percentage of such
reimbursement. At the option of the Administrative Agent, payment by the Lenders hereunder
may be deemed a Revolving Advance.

     (h) Unless otherwise agreed by each Lender in writing, the Borrowers shall deposit in
the Cash Collateral Account, on the fifth Business Day preceding the Commitment Termination
Date, an amount equal to the then-applicable L/C Amount, less the balance (if any) then
outstanding in the Cash Collateral Account. Such deposit shall be made (i) with respect to
each Alternative Currency Letter of Credit, in the applicable Alternative Currency, and
(ii) with respect to each Letter of Credit denominated in Dollars, in Dollars.

Section 2.8 Facility Fee.

     (a) The Borrowers shall pay to the Administrative Agent, for the benefit of the
Lenders, a facility fee computed each day from the Effective Date through the Commitment
Termination Date at an annual rate equal to the Facility Fee Rate in effect on such day
applied to the Aggregate Commitment Amount (whether used or unused) hereunder.

     (b) The facility fee set forth in this Section shall be due and payable quarterly in
arrears on the last day of each March, June, September and December during the term of the
Commitments. Any facility fees remaining unpaid on the Commitment Termination Date shall be
due and payable on that date.

Section 2.9 Other Fees.

The Borrowers shall pay to the Administrative Agent (i) for the benefit of the Lenders, the upfront
fee set forth in the Fee Letter, and (ii) for the Administrative Agent’s own account

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and not for the benefit of the Lenders, certain additional fees in the amounts set forth in
the Fee Letter.

Section 2.10 Termination or Reduction of the Commitment.

The Company shall have the right at any time and from time to time upon three Business Days’prior
notice to the Administrative Agent (which shall promptly notify the Lenders) permanently to
terminate the Commitments in whole or permanently to reduce the Commitment Amounts in part, without
penalty or premium, provided that (i) the Commitments may not be terminated while any Advance or
L/C Amount remains outstanding, (ii) each partial reduction shall be in the aggregate amount of
$5,000,000 or a multiple thereof, (iii) any partial reduction of the Commitment Amounts shall be
pro rata as to each Lender in accordance with that Lender’s Percentage, and (iv) no reduction shall
reduce the Commitment Amounts to an amount less than the sum of the aggregate Credit Extensions
outstanding (after giving effect to any prepayments of Advances to be made on or prior to the
effective date of such reduction) at the time. Each reduction in the Commitment Amounts hereunder
shall constitute a corresponding reduction in the Maximum Aggregate Commitment Amount.

Section 2.11 Voluntary Prepayments.

The Borrowers may prepay the Advances in whole or in part, without penalty or premium, at any time
and from time to time; provided that (i) any prepayment of the Revolving Advances shall be applied
pro rata to the prepayment of each Lender’s Revolving Advances, (ii) any prepayment of the full
amount of the Advances shall include accrued interest thereon, (iii) any prepayment of any
Eurodollar Rate Funding shall be accompanied by compensation as specified in Section 2.16(b), (iv)
any prepayment of any Eurodollar Rate Funding that is not an Alternative Currency Funding shall be
made only upon one Business Day’s prior notice, and any prepayment of any Alternative Currency
Funding shall be made only upon three Business Days’prior notice, and (v) each prepayment of the
Revolving Advances (other than prepayment of the Revolving Advances in full) shall be in the
principal amount of $1,000,000 or an integral multiple of $1,000,000. Each partial prepayment of
principal on the Advances shall be applied, first, to that portion of such Advances bearing
interest at the Base Rate, and, second, to that portion of such Advances bearing interest at a
Eurodollar Rate, in inverse order of the maturities of the Interest Periods applicable thereto.

Section 2.12 Computation of Interest and Fees.

All interest on Base Rate Fundings accruing based on the Prime Rate will be calculated based on the
actual days elapsed in a year of 365 or 366 days, as the case
may be. All other interest and all fees hereunder shall be computed on the basis of actual number
of days elapsed in a year of 360 days.

Section 2.13 Payments.

     (a) All payments of the Obligations shall be made to the Administrative Agent in
immediately available funds, without setoff or counterclaim at such office as

-22-

 

the Administrative Agent may from time to time designate. All payments of principal
and interest on any Advance shall be made in Dollars, except that Alternative Currency
Fundings and reimbursement obligations arising from Alternative Currency Letters of Credit
shall be repaid in that same Alternative Currency or converted as set forth in Section
2.7(f). Payments received after noon on any day shall be deemed received on the next
succeeding Business Day. The Borrowers agree that the amount shown on the books and records
of each Lender as being the principal balance of that Lender’s Advances, if any, shall be
prima facie evidence of such principal balance. Each Borrower hereby authorizes the
Administrative Agent to charge against any demand deposit account the Borrowers maintain
with the Administrative Agent an amount equal to the accrued interest and fees from time to
time due and payable to the Lender Parties under the Notes or hereunder, or (at the
Lenders’option) to effect a Borrowing in such amount, all without receipt of any request
for such charge or Borrowing.

     (b) If, for the purpose of obtaining judgment in any court, it is necessary to convert
a sum due hereunder in Dollars or any Alternative Currency (the “Specified Currency”) into
another currency (the “Judgment Currency”), the rate of exchange which shall be applied
shall be that at which in accordance with normal banking procedures the Administrative
Agent could purchase the Specified Currency with that amount of the Judgment Currency on
the Business Day next preceding the day on which such judgment is rendered. The obligation
of the Borrowers with respect to any such sum due from it to the Administrative Agent or
any Lender (each, an “Entitled Person”) shall, notwithstanding the rate of exchange
actually applied in rendering such judgment, be discharged only to the extent that on the
Business Day following receipt by such Entitled Person of any sum adjudged to be due
hereunder or under the Notes in the Judgment Currency, such Entitled Person may in
accordance with normal banking procedures purchase and transfer to the required location of
payment the Alternative Currency with the amount of the Judgment Currency so adjudged to be
due; and the Borrowers hereby, as a separate obligation and notwithstanding any such
judgment, agree to
indemnify such Entitled Person against, and to pay such Entitled Person on demand, in
the applicable Alternative Currency, any difference between the sum originally due to such
Entitled Person in the Alternative Currency and the amount of the Alternative Currency so
purchased and transferred on that Business Day.

Section 2.14 Payment on Nonbusiness Days.

Whenever any payment to be made hereunder or under the Notes shall be stated to be due on a day
other than a Business Day, such payment may be made on the next succeeding Business Day, and such
extension of time shall in each case be included in the computation of payment of interest thereon.

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Section 2.15 Use of Advances and Letters of Credit.

The proceeds of each Borrowing, and each Letter of Credit, shall be used by the Borrowers for their
general corporate purposes (including commercial paper backup).

Section 2.16 Yield Protection; Funding Indemnification.

In addition to any interest payable on Advances made hereunder and any fees or other amounts
payable hereunder, the Borrowers agree:

     (a) If at any time after the date hereof any adoption of or change in any applicable
law, rule or regulation or the interpretation or administration thereof by any governmental
authority (including, without limitation, Regulation D of the Federal Reserve Board):

	 	(i)	 	shall subject any Lender to any tax, duty or other charges with respect to this
Agreement, or shall materially change the basis of taxation of payments to any Lender of
the principal of or interest on any of that Lender’s Eurodollar Rate Fundings or
Alternative Currency Fundings (except for the imposition of or changes in the rate of
Excluded Taxes (as defined in Section 2.17) and, without limiting Section 2.17, except
for Taxes (as defined in Section 2.17) deducted or withheld by the Borrower in
accordance with applicable law); or
	 
	 	(ii)	 	shall impose or deem applicable or increase any reserve, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit extended by
any Lender (other than reserves and assessments described in clause (i)(b) of the
definition of “Eurodollar Rate”and taken into account in determining the applicable
Eurodollar Rate) because of any portion of the principal balance of that Lender’s
Eurodollar Rate Fundings or Alternative
Currency Fundings and the result of any of the foregoing would be to increase the cost to
that Lender of making or maintaining any such portion or to reduce any sum received or
receivable by that Lender with respect to such portion;

then, within 30 days after demand by any Lender the Borrowers shall pay that Lender such
additional amount or amounts as will compensate that Lender for such increased cost or
reduction. A Lender shall not make demand hereunder unless that Lender is generally
imposing such increased costs on its similarly situated customers. No Lender may demand
such compensation more than 90 days following the end of the Interest Period with respect
to which such demand is made; provided, however, that the foregoing shall in no way limit
the right of any Lender to demand compensation to the extent that such compensation relates
to the retroactive application of any law, rule or regulation if such demand is made within
90 days after the adoption of or change in such law, rule or regulation. A certificate in
reasonable detail of that Lender setting forth the basis for the determination of such
additional amount or

-24-

 

amounts shall be promptly submitted by that Lender to the Company and shall, in the
absence of manifest error, be conclusive and binding as to such amount or amounts.

(b) The Borrowers shall also compensate any Lender, upon written request by that
Lender (which request shall set forth the basis for requesting such amounts), for all
losses and expenses in respect of any interest or other consideration paid by that Lender
to lenders of funds borrowed by it or deposited with it to maintain any portion of the
principal balance of that Lender’s Eurodollar Rate Fundings or Alternative Currency
Fundings which that Lender may sustain to the extent not otherwise compensated for
hereunder and not mitigated by the reemployment of such funds if any prepayment of any such
portion occurs on a date that is not the expiration date of the relevant Interest Period or
if a Borrowing or prepayment in whole or in part of a Eurodollar Rate Funding fails to
occur. A certificate as to any such loss or expense (including calculations, in reasonable
detail, showing how that Lender computed such loss or expense) shall be promptly submitted
by that Lender to the Company and shall, in the absence of manifest error, be conclusive
and binding as to the amount thereof. Such loss or expense may be computed as though that
Lender acquired deposits in the London interbank market to fund that portion of the
principal balance whether or not that Lender actually did so.

Section 2.17 Taxes.

     (a) All payments made by the Borrowers to the Administrative Agent or any Lender or
Additional Lender (herein any “Payee”) under this Agreement or any of the Loan Documents
shall be made free and clear of and without deduction or withholding for or on account of
any present or future taxes imposed by any governmental or other taxing authority, except
as required by law. As used herein, the term “Taxes”shall include all income, excise and
other taxes, duties or charges of whatever nature imposed on a Payee (other than taxes
based on or measured by the net income of the Payee, franchise taxes in lieu thereof, taxes
on doing business or measured by or imposed upon the capital or net worth of any such
Payee, and branch profits taxes or similar taxes, in each case imposed by the government or
other taxing authority of the country, state or political subdivision in which such Payee
is organized or incorporated or in which such Payee’s principal executive office or the
office through which the Payee is acting is located or in which the Payee is otherwise
subject to taxation (such excluded taxes being herein called “Excluded Taxes”)). If any
Borrower is compelled by law to make any such deductions or withholdings of Taxes it will:

	 	(i)	 	pay to the relevant authorities the full amount required to be so withheld
or deducted;
	 
	 	(ii)	 	except to the extent that such deduction or withholding of Taxes results from the
failure by any Payee to comply with Section 2.17(c) or the relevant Assignment
Certificate, pay such additional amounts (including, without limitation, any penalties,
interest or expenses) as

-25-

 

	 	 	 	may be necessary in order that the net amount received by each Payee after
such deductions or withholdings of Taxes (including any required deduction or
withholding on such additional amounts) shall equal the amount such Payee would
have received had no such deductions or withholdings been made; and
	 
	 	(iii)	 	promptly forward to the Administrative Agent (for delivery to such Payee) an
official receipt or other documentation reasonably satisfactory to the Administrative
Agent evidencing such payment to such authorities.

     (b) If any Taxes otherwise subject to indemnification by any Borrower
pursuant to Section 2.17(a) are directly asserted against any Payee, such Payee may pay
such Taxes and the Borrowers promptly shall reimburse such Payee to the full extent
otherwise required by such paragraph. The obligations of the
Borrowers under this Section 2.17 shall survive any termination of this Agreement.

     (c) If any Payee is organized under the laws of any jurisdiction other than the United
States or any state thereof, such Payee will, prior to the date it becomes a party hereto,
furnish to the Administrative Agent and the Company either original, accurate and duly
executed U.S. Internal Revenue Service Form W-8BEN, or original, accurate and duly executed
U.S. Internal Revenue Service Form W-8ECI, as applicable, wherein such Payee will certify
as to such Payee’s entitlement to complete exemption from U.S. federal withholding tax on
all payments under any Loan Document. In addition, each Payee will deliver such forms
promptly upon learning of the obsolescence or invalidity of any forms previously delivered
by such Payee; provided, however, that a Payee shall not be obligated to deliver such
additional forms claiming complete exemption from U.S. federal withholding tax on all
payments under the Loan Documents pursuant to this sentence if it is unable to deliver such
forms as a result of a change in statute, tax, treaty or regulation since the date of any
U.S. Internal Revenue Service Form W-8BEN or U.S. Internal Revenue Service Form W-8ECI, as
applicable, previously delivered by such Payee. In addition, each Payee shall deliver, to
the extent legally entitled to do so, upon reasonable request by any Borrower, to such
Borrower and the Administrative Agent, such other original, accurate and duly executed
forms and documents as may be reasonably required to establish the legal entitlement of
such Payee to an exemption for withholding with respect to payments under this Agreement or
any other Loan Documents. The Borrowers shall not be required to pay additional amounts to
any Payee pursuant to this Section 2.17 to the extent that the obligation to pay such
additional amounts would not have arisen but for the failure of such Payee to comply with
this Section 2.17(c).

     (d) The amount that the Borrowers shall be required to pay to any Payee pursuant to
Section 2.17(a) or (b) shall be reduced by the amount of any refund, credit or allowance
which such Payee receives in respect of Taxes as to which it has received additional
amounts or has been indemnified by the Borrowers as reasonably

-26-

 

determined by such Payee; provided, however, that (i) such Payee’s determination of
the amount of such refund, credit or allowance and the date on which it is received shall
be conclusive, absent manifest error, (ii) no Payee shall be obliged to disclose
information regarding its tax affairs or tax computations, (iii) nothing herein shall
interfere with a Payee’s right to manage its tax affairs in whatever manner it sees fit,
and (iv) if such Payee
shall subsequently determine that it has lost the benefit of all or a portion of such
refund, credit or allowance, the Borrowers shall promptly remit to such Payee the amount
certified by such Payee to be the amount necessary to restore such Payee to the position it
would have been in if no payment of such refund, credit or allowance or such portion
thereof, as applicable, had been made pursuant to this Section 2.17(d).

     (e) If the U.S. Internal Revenue Service or any other governmental authority of the
United States or any other country or any political subdivision thereof asserts a claim
that the Administrative Agent or any Borrower did not properly withhold tax from amounts
paid to or for the account of any Lender (because the appropriate form, if any, required to
be delivered under paragraph (c) above was not delivered or properly completed, because
such Lender failed to notify the Administrative Agent or that Borrower of a change in
circumstances which rendered its exemption from withholding ineffective, or due to any
other act, or failure to act, of such Lender), such Lender shall indemnify the
Administrative Agent or that Borrower, as applicable, fully for all amounts paid, directly
or indirectly, by the Administrative Agent or that Borrower, as applicable, as tax,
withholding therefor, or otherwise, including penalties and interest, and including taxes
imposed by any jurisdiction on amounts payable to the Administrative Agent or that
Borrower, as applicable, under this subsection, together with all costs and expenses
related thereto (including attorneys fees and time charges of attorneys for the
Administrative Agent or that Borrower, as applicable, which attorneys may be employees of
the Administrative Agent or that Borrower, as applicable). The obligations of the Lender
under this Section 2.17(e) shall survive the payment of the Obligations and termination of
this Agreement.

Section 2.18 Capital Adequacy.

If any Lender determines at any time that its Return has been reduced as a result of any Capital
Adequacy Rule Change, that Lender may require the Borrowers to pay it the amount necessary to
restore its Return to what it would have been had there been no Capital Adequacy Rule Change. For
purposes of this Section:

     (a) “Return”, for any period, means the percentage determined by dividing (i) the sum
of interest and ongoing fees earned by a Lender under this Agreement during such period, by
(ii) the average capital that Lender is required to maintain during such period as a result
of its being a party to this Agreement, as determined by that Lender based upon its total
capital requirements and a reasonable attribution formula that takes account of the Capital
Adequacy Rules then in effect. Return may

-27-

 

be calculated for each calendar quarter and for the shorter period between the end
of a calendar quarter and the date of termination in whole of this Agreement.

     (b) “Capital Adequacy Rule”means any law, rule, regulation or guideline regarding
capital adequacy that applies to any Lender, or the interpretation thereof by any
governmental or regulatory authority. Capital Adequacy Rules include rules requiring
financial institutions to maintain total capital in amounts based upon percentages of
outstanding loans, binding loan commitments and letters of credit.

     (c) “Capital Adequacy Rule Change”means any change in any Capital Adequacy Rule
occurring after the date of this Agreement, but the term does not include any changes in
applicable requirements that at the date hereof are scheduled to take place under the
existing Capital Adequacy Rules or any increases in the capital that any Lender is required
to maintain to the extent that the increases are required due to a regulatory authority’s
assessment of the financial condition of that Lender.

     (d) “Lender”includes (but is not limited to) the Lenders, as defined elsewhere in this
Agreement; any participant in the loans made hereunder (to the extent provided in Section
8.11 only); and any bank holding company with respect to any of the foregoing.

The initial notice sent by a Lender shall be sent as promptly as practicable after that Lender
learns that its Return has been reduced, shall include a demand for payment of the amount necessary
to restore that Lender’s Return for the quarter in which the notice is sent and, if applicable, the
preceding quarter, and shall state in reasonable detail the cause for the reduction in its Return
and its calculation of the amount of such reduction. Thereafter, that Lender may send a new notice
with respect to each calendar quarter setting forth the calculation of the reduced Return for that
quarter and including a demand for payment of the amount necessary to restore its Return for that
quarter. In such event, the Borrowers shall pay the Lender such amount within 30 days after demand
by such Lender. A Lender’s calculation in any such notice shall be conclusive and binding absent
demonstrable error. A Lender shall not make demand hereunder unless that Lender is generally
imposing such increased costs on its similarly situated customers. No Lender may demand any
compensation hereunder more than 45 days following the end of the quarter for which compensation is
sought.

Section 2.19 Joint and Several Liability; Accommodation Party Defenses Waived.

     (a) Generally. The parties intend that each of the Borrowers shall be fully liable,
jointly and severally, for the entire Obligations. Nonetheless, in case a court finds that
any Borrower is not such a primary obligor with respect
to all or any part of the Obligations, the Borrowers expressly waive the benefit of
any and all defenses and discharges available to a guarantor, surety, endorser or
accommodation party dependent on an obligor’s character as such. Without limiting the
generality of the foregoing, the liability of the Borrowers hereunder shall not be affected
or impaired in any way by any of the following acts or things (which the Lender Parties are
hereby

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expressly authorized to do, omit or suffer from time to time without notice to or
consent of anyone): (i) any acceptance of collateral security, guarantors, accommodation
parties or sureties for any or all of the Obligations; (ii) any extension or renewal of any
or all of the Obligations (whether or not for longer than the original period) or any
modification of the interest rate, maturity or other terms of any or all of the
Obligations; (iii) any waiver or indulgence granted to any Borrower, and any delay or lack
of diligence in the enforcement of any or all of the Obligations; (iv) any full or partial
release of, compromise or settlement with, or agreement not to sue, any Borrower or any
guarantor or other person liable on any or all of the Obligations; (v) any release,
surrender, cancellation or other discharge of any or all of the Obligations or the
acceptance of any instrument in renewal or substitution for any instrument evidencing any
or all of the Obligations; (vi) any failure to obtain collateral security (including rights
of setoff) for any or all of the Obligations, or to see to the proper or sufficient
creation and perfection thereof, or to establish the priority thereof, or to preserve,
protect, insure, care for, exercise or enforce any collateral security for any or all of
the Obligations; (vii) any modification, alteration, substitution, exchange, surrender,
cancellation, termination, release or other change, impairment, limitation, loss or
discharge of any collateral security for any or all of the Obligations; (viii) any
assignment, sale, pledge or other transfer of any or all of the Obligations arising under
this Agreement; or (ix) any manner, order or method of application of any payments or
credits on any or all of the Obligations.

     (b) Foreign Borrowers: Non-Liability for Domestic Borrowings.
Notwithstanding any other provision of this Agreement or any other Loan Document, no
Borrower that is a Foreign Subsidiary shall have any obligation or liability hereunder (y)
on account of any borrowings by any Borrower other than that Foreign Subsidiary, or (z)
under Section 9.6 on account of the actions or inactions of any Borrower other than that
Foreign Subsidiary, in each case to the extent that (i) (A) such obligation or liability is
prohibited by applicable law governing that Foreign Subsidiary, or (B) the Borrower has
reasonably determined that such obligation or liability would have a material adverse tax
consequence for the Company or any Subsidiary (including any material
consequence arising from the operation of Section 956 of the Internal Revenue Code), and
(ii) the Borrower has so indicated in the applicable Designation Letter.

Section 2.20 Swing Line.

In order to accommodate the Company’s need for short-term revolving credit, Wells Fargo (in such
capacity, the “Swing Line Lender”) agrees to make Advances on the terms and subject to the
conditions set forth in this Section (each a “Swing Line Advance”).

     (a) Swing Line Advances shall be available during the period from the date of this
Agreement through and including the Commitment Termination Date.

     (b) The maximum amount of Swing Line Advances that may be outstanding at any given
time shall be $20,000,000; provided, however, that the sum

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of the Swing Line Advances plus the aggregate amount of Advances outstanding under
Section 2.1 and the L/C Amount shall never exceed the sum of the Commitment Amounts.

     (c) Each Swing Line Advance shall occur following written or telephonic request to the
Swing Line Lender from any person purporting to be authorized to request Advances on behalf
of the Company. Each such notice or request must be received by the Swing Line Lender no
later than 3:00 p.m. on the Business Day on which the Swing Line Advance is to occur and
shall specify (i) that the Company is requesting a Swing Line Advance, and (ii) the amount
thereof. Prior to the close of business on the day it receives the notice or request, the
Swing Line Lender shall disburse the Swing Line Advance by crediting the same to the
Company’s demand deposit account maintained with the Administrative Agent or in such other
manner as the Swing Line Lender and the Company may from time to time agree in writing. The
Swing Line Lender shall have no obligation to, and shall not, disburse any Swing Line
Advance if any condition set forth in Article III has not been satisfied on the day of the
requested Swing Line Advance. Each Swing Line Advance shall be in the amount of $500,000 or
an integral multiple thereof.

     (d) Each Swing Line Advance shall bear interest at an annual rate equal to the Base
Rate. Interest on the Swing Line Advance shall be payable in arrears on the last day of
each calendar quarter, and on the Commitment Termination Date.

     (e) The Swing Line Advances shall be evidenced by and repayable in accordance with a
single promissory note of the Company (the “Swing Line Note”) payable to the order of the
Swing Line Lender, substantially in the form of Exhibit C hereto, dated the date hereof.

     (f) The Company shall repay the principal of the Swing Line Advances in full from time
to time no later than the tenth Business Day following the date of the earliest
then-outstanding Swing Line Advance, and upon such repayment in full, shall not request
another Swing Line Advance for at least one full Business Day. The Company may use the
proceeds of an Advance made pursuant to Section 2.1 to repay any Swing Line Advance.

     (g) The Swing Line Lender may at any time and from time to time (whether before or
after the occurrence of an Event of Default), by notice to the Administrative Agent not
later than 1:00 p.m. on any Business Day, request that the Lenders make Advances to the
Company pursuant to Section 2.1 in an aggregate principal amount equal to the
then-outstanding principal amount of the Swing Line Advances plus interest accrued thereon
to and including the date of such notice and request. Upon receiving such notice and
request, and in any event not later than 2:00 p.m. on the date of the notice and request,
the Administrative Agent shall notify each Lender of the amount of the requested Borrowing,
that the proceeds of the Borrowing are to be used to repay a Swing Line Advance and of the
amount of each Lender’s Advance with respect thereto. Unless one of the events described in
Sections 7.1(h)

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or (i) shall have occurred with respect to Company, then subject to the provisions
of Section 2.20(i) below, so long as a Lender receives such notice from the Administrative
Agent prior to 2:00 p.m. on the date the requested Borrowing is to occur, each Lender shall
make its Advance with respect to that Borrowing available to the Administrative Agent by
wire transfer of immediately available funds to the Administrative Agent not later than
3:00 p.m. on the same day. Prior to the close of business on the same day, the
Administrative Agent will disburse the Borrowing by crediting the same to the account of
the Swing Line Lender. Any Advances made by Lenders pursuant to this Section 2.20(g) shall
initially bear interest at the Base Rate, but the rate of interest that applies to such
Advances may be converted pursuant to Section 2.3(d), and such Advances shall in all other
respects be treated in the same manner as Advances made pursuant to Section 2.1.

     (h) The Company may prepay any Swing Line Advance on the Business Day it is made or on
any subsequent Business Day; provided,
however, that each such prepayment shall be in the principal amount of $500,000 or an
integral multiple thereof.

     (i) In the event that one of the events of default described in
Sections 7.1(h) or (i) shall have occurred, the Administrative Agent shall immediately
notify the Swing Line Lender and the Lenders, and, if any Swing Line Advances or interest
thereon is outstanding on such day it receives notice, each Lender will purchase from the
Swing Line Lender an undivided participation interest in the Swing Line Advance and
interest thereon in an amount equal to its Percentage of such Swing Line Advance. Upon
request, each Lender will promptly transfer to the Swing Line Lender, in immediately
available funds, the amount of its participation and upon receipt thereof the Swing Line
Lender will deliver to such Lender a loan participation certificate, dated the date of
receipt of such funds and in such amount. Thereafter, the Swing Line Lender shall make no
further Swing Line Advances, any payments received directly by the Swing Line Lender with
respect to the Swing Line Advances shall be treated as excess payments subject to Section
8.4, and all other payments made by the Company shall be applied in the manner required by
Section 8.2.

     (j) Any Swing Line Advances that are outstanding on the Commitment Termination Date
shall be paid in full on such date, with all accrued interest.

     (k) No Borrower other than the Company may borrow any Swing Line Advance. However, all
Borrowers shall be jointly and severally liable for the repayment of each Swing Line
Advance, as provided in Section 2.19 (and subject to the limitations set forth in Section
2.19(b))

Section 2.21 Substitution of Lender.

Upon the receipt by the Company from any Lender (an “Affected Lender”) of a notice of illegality
under Section 2.3(e) or a claim for compensation under Sections 2.16(a), 2.17 or 2.18, the Company
may: (a) request that one or more of the other Lenders assume all or part

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of such Affected Lender’s Advances and Commitment (which request each such other Lender may
decline or agree to in its sole discretion); or (b) designate a replacement bank or other entity
satisfactory to the Company to acquire and assume all or part of such Affected Lender’s Advances
and Commitment at the face amount thereof (a “Substitute Lender”). Any such designation of a
Substitute Lender under clause (b) shall be subject to the prior written consent of the
Administrative Agent (which
consent shall not unreasonably be withheld). Any transfer of Advances or Commitments pursuant to
this Section shall be made in accordance with Section 8.10, and the Affected Lender shall be
entitled to payment in full of the principal amount of its outstanding Advances, all accrued
interest thereon, and all accrued fees to the date of such transfer.

Section 2.22 Increase of Aggregate Commitment Amount.

     (a) So long as no Default or Event of Default has occurred and is continuing, the
Company may, upon at least 25 days’written notice to the
Administrative Agent, propose to increase the Aggregate Commitment Amount by a multiple of
$5,000,000 that is not less than $10,000,000 and not greater than $75,000,000 (the amount
of any such increase, the “Additional Commitment Amount”). In no event shall any such
increase cause the Aggregate Commitment Amount to exceed the Maximum Aggregate Commitment
Amount. The Administrative Agent will promptly provide a copy of any such notice to each
Lender. Each Lender may, not more than 20 days following such notice, elect by written
notice to the Company and the Administrative Agent to increase its Commitment Amount by a
principal amount equal to its Percentage of the Additional Commitment Amount. No Lender (or
any successor thereto) shall have any obligation to increase its Commitment Amount or its
other obligations under this Agreement and the other Loan Documents, and any decision by a
Lender to increase its Commitment Amount shall be made in its sole discretion independently
from any other Lender.

     (b) If any Lender elects not to increase its Commitment Amount pursuant to paragraph
(a), the Company may designate another Eligible Lender (which may be, but need not be, one
or more of the existing Lenders) that will, in the case of any such Person that is an
existing Lender, increase its Commitment Amount and in the case of any other such Person
(an “Incremental Lender”), become a party to this Agreement; provided, however, that any
Incremental Lender must in all respects be acceptable to the Administrative Agent, which
acceptance will not be unreasonably withheld. The sum of the increases in the Commitment
Amounts of the existing Lenders pursuant to this paragraph (b) plus the Commitment Amounts
of the Incremental Lenders shall not in the aggregate exceed the unsubscribed amount of the
Maximum Aggregate Commitment Amount.

     (c) An increase in the Aggregate Commitment Amount pursuant to this Section 2.22 shall
become effective upon the receipt by the Administrative Agent of an agreement in form and
substance satisfactory to the Administrative Agent signed by the Borrowers, by each
Incremental Lender and by each other Lender whose

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Aggregate Commitment Amount is to be increased, setting forth the new Commitment
Amounts of such Lenders and setting forth the agreement of each Incremental Lender to
become a party to this Agreement and to be bound by all the terms and provisions hereof (a
“Commitment Increase Agreement”), together with a replacement or additional Revolving Note,
as applicable, evidencing the new Commitment Amount of each affected Lender, duly executed
and delivered by the Company and such evidence of appropriate corporate authorization on
the part of the Borrowers with respect to the increase in the Aggregate Commitment Amount
and such opinions of counsel for the Borrowers with respect to the increase in the
Aggregate Commitment Amount as the Administrative Agent may reasonably request.

     (d) Upon the acceptance of the Commitment Increase Agreement by the Administrative
Agent, the Aggregate Commitment Amount shall automatically be increased by the amount of
the Commitment Amounts added through such Commitment Increase Agreement.

     (e) Upon any increase in the Aggregate Commitment Amount pursuant to this Section 2.22
that is not pro rata among all Lenders, within 5 Business Days, the Borrowers shall prepay
all Borrowings hereunder in their entirety and, to the extent the Borrowers elect to do so
and subject to the conditions specified in Section 3.4, the Borrowers shall effect new
Borrowings from the Lenders in proportion to their respective Commitment Amounts after
giving effect to such increase.

     (f) In no event shall the Company make more than three requests for an Additional
Commitment Amount pursuant to this Section 2.22.

ARTICLE III

Conditions Precedent

Section 3.1 Conditions to Effectiveness.

Sections 2.1, 2.7 and 2.20 of this Agreement shall become effective only upon delivery to the
Administrative Agent of each of the following, each in form and substance satisfactory to each
Lender Party:

     (a) This Agreement, duly executed by the Company, the Administrative Agent and each of
the Lenders.

     (b) The Notes, dated the date hereof, properly executed on behalf of the Company.

     (c) The consent of each Departing Lender to the termination of that
Departing Lender’s Commitment (as defined in the Existing Credit Agreement) upon the
effectiveness of this Agreement.

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Section 3.2 Initial Conditions Precedent.

The obligation of the Lender Parties to provide any Credit Extension is subject to the further
condition precedent that the Administrative Agent shall have received, on or before the day of the
first Credit Extension, all of the following, in form and substance satisfactory to each Lender
Party:

     (a) The Fee Letter, properly executed on behalf of the Company.

     (b) A certificate of the secretary or an assistant secretary of the Company
(i) certifying that the execution, delivery and performance of the Loan Documents and other
documents contemplated hereunder have been duly approved by all necessary action of the
Governing Board of the Company, and attaching true and correct copies of the applicable
resolutions granting such approval, (ii) certifying that attached to such certificate are
true and correct copies of the Organizational Documents of the Company, together with such
copies, and (iii) certifying the names of the officers of the Company who are authorized to
sign the Loan Documents and other documents contemplated hereunder, together with the true
signatures of such officers.

     (c) A certificate of good standing of the Company, dated not more than ten days
before such date.

     (d) A signed copy of an opinion of counsel for the Company, addressed to the Lenders
in substantially the form of Exhibit E hereto.

     (e) All fees required to be paid as of the date hereof under this Agreement or the Fee
Letter.

     (f) Such other documents as the Administrative Agent or the Required Lenders may
reasonably deem necessary or advisable in connection with the initial Credit Extensions.

Section 3.3 Additional Conditions Precedent to Credit Extensions to Designated Subsidiaries.

The obligation of the Lender Parties to provide any Credit Extension to any Designated Subsidiary
is subject to the further condition precedent that the Administrative Agent shall have received, on
or before the day of the first Credit
Extension to such Designated Subsidiary, all of the following, in form and substance reasonably
satisfactory to each Lender Party:

     (a) A Designation Letter, duly executed by such Designated Subsidiary and the Company.

     (b) A certificate of an appropriate officer (or individual performing the function
thereof) of such Designated Subsidiary (i) certifying that the execution, delivery and
performance of the Loan Documents and other documents contemplated

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hereunder have been duly approved by all necessary action of the Governing Board of
such Designated Subsidiary, and attaching true and correct copies of the applicable
resolutions granting such approval, (ii) certifying that attached to such certificate are
true and correct copies of the Organizational Documents of such Designated Subsidiary,
together with such copies, and (iii) certifying the names of the officers of such
Designated Subsidiary who are authorized to sign the Designation Letter and other documents
contemplated hereunder, together with the true signatures of such officers.

     (c) A certificate of good standing (or equivalent certificate or confirmation, in
each case to the extent available in the applicable jurisdiction) of such Designated
Subsidiary, dated not more than ten days before such date.

     (d) A signed copy of an opinion of counsel for such Designated Subsidiary, addressed
to the Lenders, opining as to the due execution, delivery and enforceability of the Loan
Documents to which such Designated Subsidiary is a party and as to such other matters as
the Administrative Agent may reasonably request.

     (e) Such other documents as the Administrative Agent or the Required Lenders may
reasonably deem necessary or advisable in connection with the initial Credit Extension to
such Designated Subsidiary.

Section 3.4 Conditions Precedent to All Credit Extensions.

The obligation of the Lender Parties to provide any Credit Extension is subject to the further
conditions precedent that on the date of such Credit Extension:

     (a) The representations and warranties contained in Article IV are correct on and as
of the date of such Credit Extension as though made on and as of such date, except to the
extent that such representations and warranties relate solely to an earlier date.

     (b) The Borrower requesting such Credit Extension has delivered to the Administrative
Agent a certificate in the form of Exhibit G hereto, duly executed by a person authorized
to request Credit Extensions on behalf of that Borrower.

     (c) No event has occurred and is continuing, or would result from such Credit
Extension, which constitutes a Default or an Event of Default.

ARTICLE IV

Representations and Warranties

The Company represents and warrants to the Lenders as follows:

Section 4.1 Corporate Existence and Power.

The Company and its Subsidiaries are each corporations duly incorporated, validly existing and in
good standing under the laws of their respective jurisdictions of incorporation, and are

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each duly licensed or qualified to transact business in all jurisdictions where the
character of the property owned or leased or the nature of the business transacted by them makes
such licensing or qualification necessary, except where the failure to be so licensed or qualified
(i) will not permanently preclude the Company or any Subsidiary from maintaining any material
action in any such jurisdiction even though such action arose in whole or in part during the period
of such failure, and (ii) will not result in any other Material Adverse Change. The Company has
(and, upon becoming a Borrower hereunder, each Designated Subsidiary will have) all requisite power
and authority, corporate or otherwise, to conduct its business, to own its properties and to
execute and deliver, and to perform all of its obligations under, the Loan Documents.

Section 4.2 Authorization of Borrowing; No Conflict as to Law or Agreements.

The execution, delivery and performance by the Borrowers of the Loan Documents, the borrowings from
time to time hereunder, the issuance of the Notes, and the consummation of the transactions herein
and therein contemplated, have been duly authorized by all necessary corporate action and do not
and will not (i) require any consent or approval of the stockholders of any Borrower, or any
authorization, consent, approval, order, filing, registration or qualification by or with any
governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign,
other than those consents described in Schedule 4.2, each of which has been obtained and is in full
force and effect, (ii) violate any provision of
any law, rule or regulation (including, without limitation, Regulation X of the Board of Governors
of the Federal Reserve System and Section 7 of the Exchange Act or any regulation promulgated
thereunder) or of any order, writ, injunction or decree presently in effect having applicability to
any Borrower or of the Organizational Documents of any Borrower, (iii) result in a breach of or
constitute a default under any indenture or loan or credit agreement or any other material
agreement, lease or instrument to which the Company or any Subsidiary is a party or by which it or
its properties may be bound or affected, or (iv) result in, or require, the creation or imposition
of any Lien or other charge or encumbrance of any nature upon or with respect to any of the
properties now owned or hereafter acquired by the Company or any Subsidiary.

Section 4.3 Legal Agreements.

This Agreement and the other Loan Documents constitute the legal, valid and binding obligations of
the Borrowers, enforceable against the Borrowers in accordance with their respective terms, except
to the extent that such enforcement may be limited by bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’rights generally or by general equitable principles.

Section 4.4 Subsidiaries.

Schedule 4.4 hereto is a complete and correct list of all Subsidiaries as of the date of this
Agreement and of the percentage of the ownership of the Company or any other Subsidiary in each as
of the date of this Agreement. Except as otherwise indicated in that Schedule, all

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shares of each Subsidiary owned by the Company or by any such other Subsidiary are validly
issued and fully paid and nonassessable.

Section 4.5 Financial Condition.

The Company has heretofore furnished to the Lenders the audited consolidated financial statements
of the Company and its Subsidiaries for the year ended December 31, 2006, and its unaudited
quarterly consolidated financial statements for the quarter ended March 31, 2007. Those financial
statements fairly present in all material respects the financial condition of the Company on the
date thereof and the results of its operations and cash flows for the period then ended, and were
prepared in accordance with GAAP. The information, exhibits and reports furnished by the Company to
the Lender Parties, taken as a whole, in connection with the negotiation of or compliance with the
Loan Documents did not contain any material misstatement of fact or omit to state a material fact
or any fact necessary to make the statements contained therein not misleading.

Section 4.6 Adverse Change.

There has been no Material Adverse Change between December 31, 2006 and the date of this Agreement.

Section 4.7 Litigation.

Except as set forth in Schedule 4.7, there are no actions, suits or proceedings pending or, to the
knowledge of the Company, threatened against or affecting the Company or any Subsidiary or the
properties of the Company or any Subsidiary before any court or governmental department,
commission, board, bureau, agency or instrumentality, domestic or foreign, which could reasonably
be expected to effect a Material Adverse Change. Other than any liability incident to any
litigation, arbitration or proceeding which could not reasonably be expected to effect a Material
Adverse Change, the Company knows of no material contingent obligations not provided for or
disclosed in the financial statements referred to in Section 4.5.

Section 4.8 Hazardous Substances.

Except as set forth in Schedule 4.8, to the best of the Company’s knowledge, (i) neither the
Company nor any Subsidiary or other Person has ever caused or permitted any Hazardous Substance to
be disposed of on, under or at any real property which is operated by the Company or any Subsidiary
or in which the Company or any Subsidiary has any interest, except to the extent that such disposal
can not reasonably be expected to result in a Material Adverse Change; and (ii) no such real
property has ever been used (either by the Company or by any Subsidiary or other Person) as a dump
site or permanent or temporary storage site for any Hazardous Substance in a manner that could
reasonably be expected to result in a Material Adverse Change.

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Section 4.9 Regulation U.

Neither the Company nor any Subsidiary is engaged in the business of extending credit for the
purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of
Governors of the Federal Reserve System), and no part of the proceeds of any Advance will be used
to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing
or carrying any margin stock.

Section 4.10 Taxes.

The Company and its Subsidiaries have each paid or caused to be paid to the proper authorities when
due all federal, state and local taxes required to be withheld and paid by them. The Company and
its Subsidiaries have each filed all federal, state and local
tax returns which to the knowledge of the officers of the Company or any Subsidiary are required to
be filed, and the Company and its Subsidiaries have each paid or caused to be paid to the
respective taxing authorities all taxes as shown on said returns or on any assessment received by
it to the extent such taxes have become due, other than taxes whose amount, applicability or
validity is being contested in good faith by appropriate proceedings and for which the Company or
applicable Subsidiary has provided adequate reserves in accordance with GAAP.

Section 4.11 Burdensome Restrictions.

Neither the Company nor any Subsidiary is a party to or bound by any agreement, or subject to any
restriction in any Organizational Document, or any requirement of law, which would reasonably be
expected to effect a Material Adverse Change.

Section 4.12 Titles and Liens.

The Company or one of its Subsidiaries has good title to each of the properties and assets material
to the operations of the Company and its Subsidiaries, taken as a whole, which it purports to own
or which are reflected as owned on its books and records, in each case free and clear of all Liens
and encumbrances, except for Liens and encumbrances permitted by Section 6.1 and covenants,
restrictions, rights, easements and irregularities in title which do not materially interfere with
the business or operations of the Company and its Subsidiaries taken as a whole.

Section 4.13 ERISA.

No Plan will have an accumulated funding deficiency (as such term is defined in Section 302 of
ERISA) in excess of $10,000,000 as of the last day of the most recent fiscal year of such Plan
ended prior to the date hereof, and no liability to the Pension Benefit Guaranty Corporation or the
Internal Revenue Service in excess of such amount has been, or is expected by the Company or any
Subsidiary or ERISA Affiliate to be, incurred with respect to any Plan that could become a
liability of the Company or any Subsidiary. Except as disclosed in Company’s financial statements,
neither the Company nor any Subsidiary has any contingent liability with respect to any
post-retirement benefit under a Welfare Plan in

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excess of $10,000,000, other than liability for continuation coverage described in Part 6 of
Subtitle B of Title I of ERISA.

Section 4.14 Investment Company Act.

No Borrower is, and no Borrower will at any time be, an “investment company,”as such term is
defined in the Investment Company Act.

Section 4.15 Solvency.

Each Borrower is and, upon the making of any Advance and the issuance of any Letter of Credit, will
be, Solvent.

Section 4.16 Swap Obligations.

Neither the Company nor any of its Subsidiaries has incurred any outstanding obligations under any
Swap Contracts, other than Permitted Swap Obligations.

Section 4.17 Insurance.

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

Section 4.18 Compliance With Laws.

The Company and its Subsidiaries have complied with all applicable statutes, rules, regulations,
orders and restrictions of any domestic or foreign government or any instrumentality or agency
thereof having jurisdiction over the conduct of their respective businesses or the ownership of
their respective properties, assets and rights, where failure to comply would result in a Material
Adverse Change.

Section 4.19 No Contractual Default.

Neither the Company nor any Subsidiary is in violation of any term of any contract, agreement,
judgment or decree, the violation of which would (individually or together with all other such
violations in existence) have a Material Adverse Effect.

ARTICLE V

Affirmative Covenants of the Company

So long as any Obligations (other than obligations of indemnification described in Section 9.6 that
are not then due and payable) remain unpaid or any Commitment or L/C Amount shall be outstanding,
the Company will comply with the following requirements, unless the Required Lenders shall
otherwise consent in writing:

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Section 5.1 Financial Statements.

The Company will deliver to the Administrative Agent and each Lender:

     (a) As soon as available, and in any event within 90 days after the end of each fiscal
year of the Company, a copy of the annual audit report of the Company and its Subsidiaries
prepared by nationally recognized independent certified public accountants, which annual
report shall include the balance sheet of the Company and its Subsidiaries as at the end of
such fiscal year and the related statements of income, shareholders’equity and cash flows
of the Company and its Subsidiaries for the fiscal year then ended, all presented on a
consolidated basis in reasonable detail and all prepared in accordance with GAAP.

     (b) As soon as available and in any event within 60 days after the end of each of the
first three quarters of each fiscal year of the Company, the balance sheet of the Company
and its Subsidiaries as at the end of such quarter and related statements of earnings and
cash flows of the Company and its Subsidiaries for such quarter and for the year to date,
in reasonable detail and prepared on a consolidated basis in accordance with GAAP, subject
to year-end adjustments.

     (c) Concurrent with the delivery of any financial statements under paragraph (a) or
(b), a Compliance Certificate, duly executed by the chief financial officer or treasurer of
the Company.

     (d) Promptly after the sending or filing thereof, copies of all regular and periodic
financial reports which the Company or any Subsidiary shall file with the SEC or any
national securities exchange.

     (e) Immediately after the commencement thereof, notice in writing of all litigation
and of all proceedings before any governmental or regulatory agency affecting the Company
or any Subsidiary of the type described in Section 4.7 or which seek a monetary recovery
against the Company or any Subsidiary combined in excess of $10,000,000.

     (f)
As promptly as practicable (but in any event not later than five Business Days) after an officer of the Company obtains knowledge of the occurrence of any
Default or Event of Default, notice of such occurrence, together with a detailed statement
by a responsible officer of the Company of the steps being taken by the Company to cure the
effect of such event.

     (g) Promptly upon becoming aware of any Reportable Event or the occurrence of a
prohibited transaction (as defined in Section 4975 of the Internal Revenue Code or Section
406 of ERISA) in connection with any Plan or any trust created thereunder, which could
reasonably be expected to result in a liability to Company or any Subsidiary in excess of
$10,000,000, a written
notice specifying the nature thereof, what action the Company has taken, is taking or
proposes to take with respect thereto, and, when known, any action taken or threatened by
the Internal

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Revenue Service, the Pension Benefit Guaranty Corporation or the Department of Labor
with respect thereto.

     (h) Promptly upon their receipt, copies of (a) all notices received by the Company, any
Subsidiary or ERISA Affiliate of the Pension Benefit Guaranty Corporation’s intent to terminate
any Plan or to have a trustee appointed to administer any Plan, and (b) all notices received by
the Company, any Subsidiary or any ERISA Affiliate from a Multiemployer Plan concerning the
imposition or amount of withdrawal liability imposed pursuant to Section 4202 of ERISA, which
withdrawal liability individually or in the aggregate exceeds $10,000,000.

     (i) All notices required to be delivered under Section 9.15.

     (j)
Promptly after it obtains knowledge of any such change, notice (by telephone, followed by written notice sent promptly thereafter in accordance with Section
9.4) of any change in the rating by S&P or Moody’s of the Reference Debt, together with the
details thereof, and of any announcement by S&P or Moody’s that its rating is “under
review”  or that any such rating has been placed on a “CreditWatch List”  or “watch list”  or
that any similar action has been taken by such rating agency.

     (k) Such other information respecting the financial condition and results of
operations of the Company or any Subsidiary as any Lender may from time to time reasonably
request.

Section 5.2 Books and Records; Inspection and Examination.

The Company will keep, and will cause each Subsidiary to keep, accurate books of record and account
for itself in which true and complete entries will be made in accordance with GAAP. Upon request of
any Applicable Party, as defined below, the Company will, and will cause each Subsidiary to, give
any representative of such Applicable Party access to, and permit such representative to examine,
copy or make extracts from, any and all books, records and documents in its possession (except to
the extent that such access is restricted by law or by a bona fide non-disclosure agreement not
entered into primarily for the purpose of evading the requirements of this Section), to inspect any
of its properties (subject to such physical security requirements as the Company or the applicable
Subsidiary may require) and to discuss its affairs, finances and accounts with any of its principal
officers, all at such times during normal business hours, upon reasonable notice, and as often as
such Applicable Party may reasonably request. As used in this Section 5.2, “Applicable Party”  means
(i) so long as any Event of Default has occurred and is continuing, the Administrative Agent or any
Lender, and (ii) at all other times, the Administrative Agent. The provisions of this Section 5.2
shall in no way preclude any Lender from discussing the general affairs, finances and accounts of
the Company with any of its principal officers at such times during normal business hours and as
often as may be
agreed to between the Company and such Lender.

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Section 5.3 Compliance with Laws.

The Company will, and will cause each Subsidiary to, comply with the requirements of applicable
laws and regulations, the noncompliance with which would effect a Material Adverse Change. In
addition, and without limiting the foregoing sentence, the Company will (i) ensure, and cause each
Subsidiary to ensure, that no Person who owns a controlling interest in or otherwise controls the
Company or any Subsidiary is or shall be listed on the Specially Designated Nationals and Blocked
Person List or other similar lists maintained by the Office of Foreign Assets Control (“OFAC”), the
Department of the Treasury or included in any Executive Orders, (ii) not use or permit the use of
the proceeds of any Advance to violate any of the foreign asset control regulations of OFAC or any
enabling statute or Executive Order relating thereto, and (iii) comply, and cause each Subsidiary
to comply, with all applicable Bank Secrecy Act (“BSA”) laws and regulations, as amended.

Section 5.4 Payment of Taxes and Other Claims.

The Company will, and will cause each Subsidiary to, pay or discharge, when due, (a) all taxes,
assessments and governmental charges levied or imposed upon it or upon its income or profits, or
upon any properties belonging to it, prior to the date on which penalties attach thereto, (b) all
federal, state and local taxes required to be withheld by it, and (c) all lawful claims for labor,
materials and supplies which, if unpaid, might by law become a lien or charge upon any properties
of the Company or any Subsidiary; provided, that neither the Company nor any Subsidiary shall be
required to pay any such tax, assessment, charge or claim (i) whose amount, applicability or
validity is being contested in good faith by appropriate proceedings and for which the Company or
such Subsidiary has provided adequate reserves in accordance with GAAP or (ii) where failure to pay
such tax, assessment, charge or claim could not reasonably be expected to result in a liability in
excess of $5,000,000.

Section 5.5 Maintenance of Properties.

The Company will keep and maintain, and will cause each Subsidiary to keep and maintain, all of its
properties necessary or useful in its business in good condition, repair and working order;
provided, however, that nothing in this Section shall prevent the Company or any Subsidiary from
discontinuing the operation and maintenance of, or disposing of, any of its properties if (i) (A)
such discontinuance or disposition is, in the reasonable judgment of the Company or that
Subsidiary, desirable in the conduct of its business, and (B) no Default or Event of Default exists
at the time of, or will be caused by, such discontinuance or disposition or (ii) such
discontinuance or disposition relates to obsolete or worn-out property.

Section 5.6 Insurance.

The Company will, and will cause each Subsidiary to, obtain and maintain insurance with insurers
reasonably believed by the Company or such Subsidiary to be responsible and reputable, in such
amounts and against such risks as are consistent with sound business practice.

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Section 5.7 Preservation of Corporate Existence.

The Company will, and will cause each Subsidiary to, preserve and maintain its corporate existence
and all of its rights, privileges and franchises; provided, however, that neither the Company nor
any Subsidiary shall be required to preserve any of its rights, privileges and franchises or to
maintain its corporate existence if (i) its Governing Board shall reasonably determine that the
preservation or maintenance thereof is no longer desirable in the conduct of the business of the
Company or that Subsidiary, and (ii) no Default or Event of Default exists upon, or will be caused
by, the termination of such right, privilege, franchise or existence; provided, further, that in no
event shall the foregoing be construed to permit the Company to terminate its corporate existence.

Section 5.8 Use of Proceeds.

The Company will, and will cause each Subsidiary to, use the proceeds of the Advances and L/C
Amounts for general corporate purposes (including, without limitation, support of commercial paper)
and to repay outstanding Advances and L/C Amounts. The Company will not, nor will it permit any
Subsidiary to, use any of the proceeds of the Advances and L/C Amounts to purchase or carry any
“margin stock” (as defined in Regulation U) or to make any acquisition of any corporation, limited
liability company or other business entity unless, prior to making such acquisition, the Company or
such Subsidiary shall have obtained written approval from the Governing Board of such entity.

ARTICLE VI

Negative Covenants

So long as any Obligations (other than obligations of indemnification described in Section 9.6 that
are not then due and payable) remain unpaid or any Commitment or L/C Amount shall be outstanding,
the Company agrees that, without the prior written consent of the Required Lenders:

Section 6.1 Liens.

The Company will not create, incur, assume or suffer to exist any Lien on any of its assets, now
owned or hereafter acquired, and will not permit any Subsidiary to create, incur, assume or suffer
to exist any Lien on any of such Subsidiary’s assets, now owned or hereafter acquired, except the
following:

     (a) Liens for taxes or assessments or other governmental charges to
the extent not required to be paid by Section 5.4.

     (b) Materialmen’s, merchants’, carriers’ worker’s, repairer’s, or other like liens
arising in the ordinary course of business to the extent not required to be paid by Section
5.4.

     (c) Pledges or deposits to secure obligations under worker’s compensation laws,
unemployment insurance, social security and other similar laws, or to secure the
performance of bids, tenders, contracts (other than for the repayment of borrowed

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money) or leases or to secure statutory obligations or surety or appeal bonds, or to secure
indemnity, performance or other similar bonds in the ordinary course of business.

     (d) Zoning restrictions, easements, licenses, restrictions on the use of real property or
minor irregularities in title thereto, which do not materially impair the use of such property in
the operation of the business of the Company and its Subsidiaries taken as a whole or the value of
such property for the purpose of such business.

     (e) Purchase money Liens upon or in property acquired after the date hereof, provided that
(i) such Lien is created not later than the 120th day following the acquisition or completion of
construction of such property by the Company or its applicable Subsidiary, and (ii) no such Lien
extends or shall extend to or cover any property of the Company or its Subsidiaries other than
the property then being acquired, fixed improvements then or thereafter erected thereon and
improvements and modifications thereto necessary to maintain such properties in working order.

     (f) Liens granted by any Acquisition Target prior to the acquisition by the Company or any
Subsidiary of any interest in such Acquisition Target or its assets, so long as (i) such Lien was
granted by the Acquisition Target prior to such acquisition and not in contemplation thereof, and
(ii) no such Lien extends to any assets of the Company or any Subsidiary other than the assets of
the Acquisition Target and improvements and modifications thereto necessary to maintain such
properties in working order or, in the case of an asset transfer, the assets so acquired by the
Company or the applicable Subsidiary and improvements and modifications thereto.

     (g) Liens (other than those described in subsection (e)) securing any indebtedness
for borrowed money in existence on the date hereof and listed in Schedule 6.1 hereto.

     (h) Liens securing any refinancing of indebtedness secured by the Liens described in
paragraphs (e) and (f), so long as the amount of such indebtedness secured by any such Lien does
not exceed the amount of such refinanced
indebtedness immediately prior to the refinancing and such Liens do not extend to assets
other than those encumbered prior to such refinancing and improvements and modifications
thereto.

     (i) Liens granted by any Subsidiary of the Company in favor of the Company or any
wholly-owned Subsidiary of the Company.

     (j) Liens on patents, patent applications, trademarks, trademark applications, trade names,
copyrights, technology and know-how to the extent such Liens arise from the granting (a) of
exclusive licenses with respect to the foregoing if such licenses relate to either (x)
intellectual property which is immaterial and not necessary for the on-going conduct of the
businesses of the Company and its Subsidiaries or (y) uses that would not materially restrict the
conduct of the on-going businesses of the Company and its Subsidiaries and (b) of non-exclusive
licenses to

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use any of the foregoing to any Person, in any case in the ordinary course of business of
the Company or any of its Subsidiaries.

     (k) Possessory Liens in favor of lessees or sublessees of properties leased or
subleased by the Company or any of its Subsidiaries to such Persons.

     (l) Liens not otherwise described in this Section 6.1, so long as the aggregate amount
of indebtedness secured by all such Liens does not at any time exceed 5% of Adjusted Net
Worth.

Section 6.2 Sale of Assets.

The Company will not, and will not permit any Subsidiary to, sell, lease, assign, transfer or
otherwise dispose of all or a Material Part of the Assets of the Company and its Subsidiaries
(whether in one transaction or in a series of transactions) to any other Person other than (i) in
the ordinary course of business, (ii) any transfer of an interest in accounts or notes receivable
on a limited recourse basis; provided, that (w) such transfer qualifies as a sale under GAAP, (x)
the amount of such financing does not exceed $100,000,000 in the aggregate after the date of this
Agreement, (y) at least 80% of the proceeds of such transfers are paid in cash and (z) the Company
and its Subsidiaries do not retain a residual liability therefor in excess of 10% of the amount of
any such financing, and (iii) dispositions of property no longer used or useful in the business of
the Company or any Subsidiary; provided, however, that a wholly-owned Subsidiary of the Company may
sell, lease, or transfer all or a substantial part of its assets to the Company or another
wholly-owned Subsidiary of the Company, and the Company or such other wholly-owned Subsidiary, as
the case may be, may acquire all or substantially all of the assets of the Subsidiary so to be
sold, leased or transferred to it, and any such sale, lease or transfer shall not be included in
determining if the Company and/or its Subsidiaries disposed of a Material Part of the Assets. For
purposes hereof, “Material Part of the Assets” means assets with a net book value in excess of 10%
of the total assets of the Company and its Subsidiaries on a
consolidated basis as determined in accordance with GAAP, as shown on the most recent balance sheet
of the Company and its Subsidiaries available as of the date of determination.

Section 6.3 Consolidation and Merger.

The Company will not consolidate with or merge into any Person, or permit any other Person to merge
into it, or acquire (in a transaction analogous in purpose or effect to a consolidation or merger)
all or substantially all of the assets of any other Person; provided, however, that the
restrictions contained in this Section shall not apply to or prevent the consolidation or merger of
(a) any Person with, or a conveyance or transfer of its assets to, the Company so long as (i) no
Default or Event of Default exists at the time of, or will be caused by, such consolidation,
merger, conveyance or transfer, and (ii) the Company shall be the continuing or surviving
corporation, or (b) the merger of a wholly-owned Subsidiary with the Company, provided that the
Company is the legally surviving entity, or (c) the merger of a wholly-owned Subsidiary with
another wholly-owned Subsidiary.

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Section 6.4 Hazardous Substances.

The Company will not, and will not permit any Subsidiary to, cause or permit any Hazardous
Substance to be disposed of in any manner, or on, under or at any real property which is operated
by the Company or any Subsidiary or in which the Company or any Subsidiary has any interest, if
such disposition could reasonably be expected to result in a Material Adverse Change.

Section 6.5 Restrictions on Nature of Business.

The Company and its Subsidiaries will not engage in any business materially different from those
businesses in which they are presently engaged.

Section 6.6 Transactions with Affiliates.

Neither the Company nor any Subsidiary will make any loan or capital contribution to, or any other
investment in, any Affiliate, or pay any dividend to any Affiliate, or make any other cash transfer
to any Affiliate; provided, however, that the foregoing shall not prohibit any of the following:

     (a) Transactions made upon fair and reasonable terms no less favorable to the Company
or applicable Subsidiary than would obtain, taking into account all facts and
circumstances, in a comparable arm’s-length transaction with a Person not an Affiliate.

     (b) Loans or contributions of capital to Subsidiaries, so long as such transaction (if
constituting a sale, lease, assignment, transfer or other disposition of assets) does not
violate Section 6.2 of this Agreement.

Section 6.7 Leverage Ratio.

The Company will not permit its Leverage Ratio, determined as at the end of each fiscal quarter of
the Company, to be greater than 3.50 to 1.

Section 6.8 Fixed Charge Coverage Ratio.

The Company will not permit its Fixed Charge Coverage Ratio, determined as at the end of each
fiscal quarter of the Company, to be less than 2.00 to 1.

Section 6.9 Adjusted Net Worth.

The Company will not permit its Adjusted Net Worth, determined as of the end of each fiscal quarter
of the Company, to be less than the sum of (i) $505,790,400, plus (ii) an amount equal to 50% of
the consolidated net income of the Company and its Subsidiaries (with no deduction for any
quarterly loss) in each fiscal quarter ending on or after December 31, 2006.

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Section 6.10 Investments.

Neither the Company nor any of its Subsidiaries will purchase or hold beneficially any Investment,
except:

     (a) Investments in its Subsidiaries, including investments in connection with
acquisitions.

     (b) Existing investments described on Schedule 6.10.

     (c) Investments in commercial paper of corporations organized under the
laws of the United States or any state thereof maturing in 270 days or less from the date of
issuance which, at the time of acquisition by the Company or any Subsidiary, is accorded a rating
of “A-1” by S&P or “P-1” by Moody’s.

     (d) Investments in direct obligations of the United States of America or any agency or
instrumentality of the United States of America, the payment or guarantee of which constitutes a
full faith and credit obligation of the United States of America, in either case, maturing within
twelve months from the date of acquisition thereof.

     (e) Investments in certificates of deposit and time deposits maturing within one year from
the date of issuance thereof, either (i) issued by a bank or trust company organized under the
laws of the United States or any state thereof, Canada or any province thereof, or any member
state of the European Union as of April 30, 2004 (other than Greece), having in each such case
capital, surplus and undivided profits aggregating at least U.S.$100,000,000 (or the equivalent
under local currency), provided that at the time of acquisition thereof by the Company or a
Subsidiary, the senior unsecured long-term debt of such bank or trust company or of
the holding company of such bank or trust company is rated “A” or better by S&P, or “A2” or
better by Moody’s, or (ii) issued by any bank or trust company organized under the laws of the
United States or any state thereof to the extent that such Investments are fully insured by the
Federal Depository Insurance Corporation.

     (f) Investments in repurchase agreements with respect to any Investment described in
paragraph (d) above entered into with a depository institution or trust company of the type
described in (e) above acting as principal, so long as such repurchase agreements are by their
terms to be performed by the repurchase obligor and such repurchase agreements are deposited
with a bank or trust company of the type described in clause (e) above.

     (g) Investments in (i) variable rate demand notes of any state of the United States or any
municipality organized under the laws of any state of the United States or any political
subdivision thereof which, at the time of acquisition by the Company, are accorded either of the
two highest ratings by S&P or Moody’s, Inc., provided that in each such case, such notes permit
the Company to require the issuer thereof to repurchase such notes within not more than 12 months
from the date of acquisition thereof by the Company, and (ii) notes of any state of the United
States or any

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municipality thereof organized under the laws of any state of the United States or any
political subdivision thereof which are provided unconditional credit support by, and are
unconditionally putable within a period not to exceed one year from the date of acquisition
thereof by the Company or applicable Subsidiary to financial
institutions rated “A”  or
better by S&P or Moody’s.

     (h) Investments in (i) preferred stocks which, at the date of acquisition by the
Company or any Subsidiary, are accorded one of the three highest ratings by S&P or Moody’s
or (ii) adjustable rate preferred stock funds rated
“A-”  or better by S&P or “A-3” or better
by Moody’s.

     (i) Investments by any Foreign Subsidiary in direct obligations of the country in
which such Foreign Subsidiary is organized, in each such case maturing within 12 months
from the date of acquisition thereof by such Foreign Subsidiary.

     (j) Advances in the form of progress payments, prepaid rent or security deposits made
or incurred in the ordinary course of business.

     (k) Investments of the Company and its Subsidiaries not described in the foregoing
paragraphs (a) through (j), so long as the aggregate amount of all such Investments shall
not at any time exceed the greater of (i) U.S. $50,000,000 or (ii) 10% of the aggregate
amount of the capital stock accounts (net of treasury stock, at cost) plus (or minus in the
case of a deficit) the surplus and retained earnings of the Company as determined in
accordance
with GAAP as at the time of making such Investment.

Section 6.11 Guarantees.

Neither the Company nor any of its Subsidiaries will assume, guarantee, endorse or otherwise become
directly or contingently liable in connection with any obligations of any other Person, except:

     (a) The endorsement of negotiable instruments by the Company or any of its
Subsidiaries for deposit or collection or similar transactions in the ordinary course of
business.

     (b) Guaranties, endorsements and other direct or contingent liabilities in connection
with the obligations of other Persons in existence on the date hereof and listed in
Schedule 6.11 hereto.

     (c) Contingent obligations (A) of the Company with respect to obligations of its
Subsidiaries and (B) of any of the Company’s Subsidiaries with respect to obligations of
the Company or another such Subsidiary.

     (d) Contingent obligations with respect to surety, appeal and performance bonds
obtained by the Company or any of its Subsidiaries in the ordinary course of business.

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ARTICLE VII

Events of Default, Rights and Remedies

Section 7.1 Events of Default.

“Event of Default”, wherever used herein, means any one of the following events:

     (a) Default in the payment of any principal of any Note or L/C Amount when it becomes
due and payable; or default in the payment of any other Obligations when the same become
due and payable and the continuance of such default for five Business Days.

     (b) Default in the performance, or breach, of any covenant or agreement on the part of
the Company contained in any Financial Covenant or any of Sections 5.1(f), 6.1 through 6.3,
6.6, 6.10 or 6.11.

     (c) Default in the performance, or breach, of any covenant or agreement of the
Borrowers in this Agreement or any other Loan Document (excluding any covenant or agreement
a default in whose performance or whose breach is elsewhere in this Section specifically
dealt with), and the continuance of such default or breach for a period of 30 days after
the Administrative Agent, at the request of any Lender, has given notice to the
Company specifying such default or breach and requiring it to be remedied.

     (d) Any representation or warranty made by any Borrower in this
Agreement or any other Loan Document or by any Borrower (or any of its officers) in any
certificate, instrument, or statement contemplated by or made or delivered pursuant to or
in connection with this Agreement, shall prove to have been incorrect in any material
respect when made.

     (e) Any Borrower shall assert that any Loan Documents are not enforceable in
accordance with their terms.

     (f) A default in the payment when due (after giving effect to any applicable grace
periods) of principal or interest with respect to any item of Total Funded Debt of the
Company or any of its Subsidiaries (other than any Obligations) if the aggregate amount of
all such items of Total Funded Debt as to which such payment defaults exist is not less
than $10,000,000.

     (g) A default (other than a default described in paragraph (f)) under any agreement
relating to any item of Total Funded Debt of the Company or any Subsidiary (other than
under any of the Loan Documents) or under any indenture or other instrument under which any
such agreement has been issued or by which it is governed and the expiration of the
applicable period of grace, if any, specified in such agreement if the effect of such
default is to cause or to permit the holder of such item of Total Funded Debt (or trustee
or agent on behalf of such holder) to cause such item

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of Total Funded Debt to come due prior to its stated maturity (or to cause or to permit the
counterparty in respect of a Swap Contract to elect an early termination date in respect of such
Swap Contract); provided, however, that no Event of Default shall be deemed to have occurred under
this paragraph if the aggregate amount owing as to all such items of Total Funded Debt as to which
such defaults have occurred and are continuing is less than $10,000,000; provided further that if
such default shall be cured by the Company or such Subsidiary, or waived by the holders of such
items of Total Funded Debt or counterparties in respect of such Swap Contracts, in each case prior
to the commencement of any action under Section 7.2 and as may be permitted by such evidence of
indebtedness, indenture, other instrument, or Swap Contract, then the Event of Default hereunder
by reason of such default shall be deemed likewise to have been thereupon cured or waived.

     (h) The Company or any Subsidiary shall be adjudicated a bankrupt or insolvent, or admit in
writing its inability to pay its debts as they mature, or make an assignment for the benefit of
creditors; or the Company or any Subsidiary shall apply for or consent to the appointment of any
receiver, trustee, or similar officer for it or for all or any substantial part of its property;
or such receiver, trustee or similar officer shall be appointed without the application or consent
of the Company or such
Subsidiary, and such appointment shall continue undischarged for a period of 60 days; or the
Company or any Subsidiary shall institute (by petition, application, answer, consent or otherwise)
any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution,
liquidation or similar proceeding relating to it under the laws of any jurisdiction; or any such
proceeding shall be instituted (by petition, application or otherwise) against the Company or any
Subsidiary and shall continue undischarged for 60 days; or any judgment, writ, warrant of
attachment or execution or similar process shall be issued or levied against a substantial part of
the property of the Company or any Subsidiary and such judgment, writ, or similar process shall
not be released, vacated, stayed or fully bonded within 60 days after its issue or levy.

     (i) A petition shall be filed by the Company or any Subsidiary under the United States
Bankruptcy Code naming the Company or that Subsidiary as debtor; or an involuntary petition shall
be filed against the Company or any Subsidiary under the United States Bankruptcy Code, and such
petition shall not have been dismissed within 60 days after such filing; or an order for relief
shall be entered in any case under the United States Bankruptcy Code naming the Company or any
Subsidiary as debtor.

     (j) A Change of Control shall occur with respect to the Company.

     (k) The rendering against the Company or any Subsidiary of a final
judgment, decree or order for the payment of money if the amount of such judgment, decree or
order, together with the amount of all other such judgments, decrees and orders then outstanding,
less (in each case) the portion thereof covered by insurance proceeds, is greater than $5,000,000
and if such judgment, decree or order remains

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unsatisfied and in effect for any period of 30 consecutive days without a stay of
execution.

     (l) Any Plan shall have been terminated as a result of which the Company or any
Subsidiary or ERISA Affiliate has incurred an unfunded liability in excess of $10,000,000;
or a trustee shall have been appointed by an appropriate United States District Court to
administer any Plan or the Pension Benefit Guaranty Corporation shall have instituted
proceedings to terminate any Plan or to appoint a trustee to administer any Plan and in
either case such action could reasonably be expected to result in liability to the Company
or any Subsidiary in excess of $10,000,000, or the Company or any Subsidiary or ERISA
Affiliate shall have incurred withdrawal liability in excess of $10,000,000 in respect of
any Multiemployer Plan; or the Company or any Subsidiary or ERISA Affiliate shall have
incurred any joint and several liability to the Internal Revenue Service or the Department
of Labor, or the Company or any Subsidiary shall have incurred any other liability to the
Internal Revenue Service or the Department of Labor, in excess of $10,000,000 with
respect to any Plan; or any Reportable Event that the Required Lenders may determine in
good faith could reasonably be expected to constitute grounds for the termination of any
Plan by the Pension Benefit Guaranty Corporation, for the appointment by the appropriate
United States District Court of a trustee to administer any Plan or for the imposition of
withdrawal liability with respect to a Multiemployer Plan, and which, in any such case,
could reasonably be expected to result in liability to Company or any Subsidiary or ERISA
Affiliate in excess of $10,000,000, shall have occurred and be continuing 30 days after
written notice to such effect shall have been given to the Company by the Lenders.

     (m) Any court, government or governmental agency shall condemn, seize or otherwise
appropriate, or take custody or control of, all or any Material Part of the Assets (as
defined in Section 6.2) of the Company and its Subsidiaries.

     (n) Failure of the Borrowers to maintain or deposit in the Cash Collateral Account on
or after the fifth Business Day preceding the Commitment Termination Date (or earlier, if
required by Section 7.2(c)) an amount equal to the face amount of all outstanding Letters
of Credit.

Section 7.2 Rights and Remedies.

Upon the occurrence of an Event of Default or at any time thereafter until such Event of Default is
waived by the Required Lenders or cured, the Administrative Agent may, with the consent of the
Required Lenders, and shall, upon the request of the Required Lenders, exercise any or all of the
following rights and remedies:

     (a) The Administrative Agent may, by notice to the Company, declare the Commitments,
the Swing Line Lender’s commitment under Section 2.20 and the Issuing Bank’s commitment
under Section 2.7 to be terminated, whereupon the same shall forthwith terminate.

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     (b) The Administrative Agent may, by notice to the Company, declare the entire unpaid
principal amount of the Obligations then outstanding, all interest accrued and unpaid thereon,
and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the
Obligations, all such accrued interest and all such amounts shall become and be forthwith due and
payable, without presentment, demand, protest or further notice of any kind, all of which are
hereby expressly waived by the Borrowers.

     (c) If any Letter of Credit remains outstanding, the Administrative Agent may, by notice to
the Company, require the Borrowers to deposit in the Cash Collateral Account immediately available
funds equal to the aggregate face amount of all such outstanding Letters of Credit (less any
amounts then on deposit in the
Cash Collateral Account). Such funds shall be deposited (i) with respect to each Alternative
Currency Letter of Credit, in the applicable Alternative Currency, and
(ii) with respect to each Letter of Credit denominated in Dollars, in Dollars.

     (d) The Lenders may, without notice to the Borrowers and without further
action, apply any and all money owing by any Lender to any Borrower to the payment of the
Obligations then outstanding, including interest accrued thereon, and of all other sums
then owing by the Borrowers hereunder. For purposes of this paragraph (d), “Lender” means
the Lenders, as defined elsewhere in this Agreement, and any participant in the loans made
hereunder; provided, however, that each such participant, by exercising its rights under
this paragraph (d), agrees that it shall be obligated under Section 8.4 with respect to
such payment as if it were a Lender for purposes of that Section.

     (e) The Administrative Agent may exercise and enforce all rights and remedies
available to it in respect of the Cash Collateral Account.

     (f) The Administrative Agent, the Swing Line Lender, the Issuing Bank and the Lenders
may exercise any other rights and remedies available to them by law or agreement.

Notwithstanding the foregoing, upon the occurrence of an Event of Default described in Section
7.1(i) hereof (whether or not such Event of Default also arises under Section 7.1(h) hereof), the
Commitments shall terminate and the entire unpaid principal amount of the Obligations then
outstanding, all interest accrued and unpaid thereon, and all other amounts payable under this
Agreement shall be immediately due and payable without presentment, demand, protest or notice of
any kind.

Section 7.3 Pledge of Cash Collateral Account.

The Borrowers hereby pledge, and grant the Administrative Agent, as agent for the Lenders,
including the Issuing Bank, a security interest in, all sums held in the Cash Collateral Account
from time to time and all proceeds thereof as security for the payment of the Obligations,
specifically including (without limitation) the Borrowers’ obligation to reimburse the Issuing Bank
for any amount drawn under any Letter of Credit, whether such

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reimbursement obligation arises directly under this Agreement or under a separate reimbursement
agreement. Upon request of the Company, the Administrative Agent shall permit the Borrowers to
withdraw from the Cash Collateral Account, so long as no Default or Event of Default then exists,
the lesser of (i) the Excess Balance (as defined below), or (ii) the balance of the Cash Collateral
Account. If a Default or Event of Default then exists, the Administrative Agent shall, upon the
request of the Company, apply the Excess Balance to the payment of the Obligations. As used
herein, “Excess Balance” means (A) after the fifth Business Day preceding the Commitment Termination
Date, the amount by which the balance of the Cash Collateral Account exceeds the L/C Amount, and
(B) prior to the fifth Business Day preceding the Commitment Termination Date, the balance of the
Cash Collateral Account. The Administrative Agent shall have full control of the Cash Collateral
Account, and, except as set forth above, the Borrowers shall have no right to withdraw the funds
maintained in the Cash Collateral Account.

ARTICLE VIII

The Administrative Agent

Section 8.1 Authorization.

Each Lender, the holder of each Note and the Issuing Bank irrevocably appoints and authorizes the
Administrative Agent to act on its behalf to the extent provided herein or in any document or
instrument delivered hereunder or in connection herewith, and to take such other action as may be
reasonably incidental thereto.

Section 8.2 Distribution of Payments and Proceeds.

     (a) After deduction of any costs of collection as hereinafter provided, the
Administrative Agent shall remit to each Lender that Lender’s Percentage of all payments of
principal, interest, Letter of Credit fees payable under Section 2.7(e) and facility fees
payable under Section 2.8 that are received by the Administrative Agent under the Loan
Documents. Each Lender’s interest in the Loan Documents shall be payable solely from
payments, collections and proceeds actually received by the Administrative Agent under the
Loan Documents; and the Administrative Agent’s only liability to the Lenders hereunder
shall be to account for each Lender’s Percentage of such payments, collections and proceeds
in accordance with this Agreement. If the Administrative Agent is ever required for any
reason to refund any such payments, collections or proceeds, each Lender will refund to the
Administrative Agent, upon demand, its Percentage of such payments, collections or
proceeds, together with its Percentage of interest or penalties, if any, payable by the
Administrative Agent in connection with such refund. The Administrative Agent may, in its
sole discretion, make payment to the Lenders in anticipation of receipt of payment from the
Borrowers. If the Administrative Agent fails to receive any such anticipated payment from
the Borrowers, each Lender shall promptly refund to the Administrative Agent, upon demand,
any such payment made to it in anticipation of payment from the Borrowers, together with
interest for each day on such amount until so refunded at a rate equal to the Federal Funds
Rate for each such date.

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     (b) Notwithstanding the foregoing, if any Lender has wrongfully refused to fund its
Percentage of any Borrowing or other Advance or purchase its participation in a Swing Line
Advance or in a Letter of Credit as required
hereunder, or if the principal balance of any Lender’s Obligations is for any other
reason less than its Percentage of the aggregate principal balances of the
Lenders’ Obligations then outstanding, the Administrative Agent may remit all payments
received by it to the other Lenders until such payments have reduced the aggregate amounts
owed by the Borrowers to the extent that the aggregate amount owing to such Lender
hereunder is equal to its Percentage of the aggregate amount owing to all of the Lenders
hereunder. The provisions of this paragraph are intended only to set forth certain rules
for the application of payments, proceeds and collections in the event that a Lender has
breached its obligations hereunder and shall not be deemed to excuse any Lender from such
obligations.

Section 8.3 Expenses.

All payments, collections and proceeds received or effected by the Administrative Agent may be
applied, first, to pay or reimburse the Administrative Agent for all costs, expenses, damages and
liabilities at any time incurred by or imposed upon the Administrative Agent in connection with
this Agreement or any other Loan Document (including but not limited to all reasonable attorney’s
fees, foreclosure expenses and advances made to protect the security of collateral, if any, but
excluding any costs, expenses, damages or liabilities arising from the gross negligence or willful
misconduct of the Administrative Agent). If the Administrative Agent does not receive payments,
collections or proceeds from the Borrowers or their properties sufficient to cover any such costs,
expenses, damages or liabilities within 30 days after their incurrence or imposition, each Lender
shall, upon demand, remit to the Administrative Agent its Percentage of the difference between (i)
such costs, expenses, damages and liabilities, and (ii) such payments, collections and proceeds.

Section 8.4 Payments Received Directly by Lenders.

If any Lender or other holder of a Note shall obtain any payment or other recovery (whether
voluntary, involuntary, by application of offset or otherwise) on account of principal of or
interest on any Note other than through distributions made in accordance with Section 8.2, such
Lender or holder shall promptly give notice of such fact to the Administrative Agent and shall
purchase from the other Lenders or holders such participations in the Obligations held by them as
shall be necessary to cause the purchasing Lender or holder to share the excess payment or other
recovery ratably with each of them; provided, however, that if all or any portion of the excess
payment or other recovery is thereafter recovered from such purchasing Lender or holder, the
purchase shall be rescinded and the purchasing Lender restored to the extent of such recovery (but
without interest thereon).

Section 8.5 Indemnification.

The Administrative Agent shall not be required to do any act hereunder or under any other document
or instrument delivered hereunder or in connection herewith, or to
prosecute or

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defend any suit in respect of this Agreement or the Notes or any documents or instrument delivered
hereunder or in connection herewith unless indemnified to its satisfaction by the holders of the
Obligations against loss, cost, liability and expense (other than any such loss, cost, liability or
expense attributable to the Administrative Agent’s own gross negligence or willful misconduct). If
any indemnity furnished to the Administrative Agent for any purpose shall, in the opinion of the
Administrative Agent, be insufficient or become impaired, the Administrative Agent may call for
additional indemnity and not commence or cease to do the acts indemnified against until such
additional indemnity is furnished.

Section 8.6 Exculpation.

     (a) The Administrative Agent shall be entitled to rely upon advice of counsel
concerning legal matters, and upon this Agreement, any Loan Document and any schedule,
certificate, statement, report, notice or other writing which it in good faith believes to
be genuine or to have been presented by a proper person. Neither the Administrative Agent
nor any of its directors, officers, employees or agents shall (a) be responsible for any
recitals, representations or warranties contained in, or for the execution, validity,
genuineness, effectiveness or enforceability of this Agreement, any Loan Document, or any
other instrument or document delivered hereunder or in connection herewith, (b) be
responsible for the validity, genuineness, perfection, effectiveness, enforceability,
existence, value or enforcement of any collateral security, (c) be under any duty to
inquire into or pass upon any of the foregoing matters, or to make any inquiry concerning
the performance by the Borrowers or any other obligor of its obligations (it being
understood and agreed that the Administrative Agent shall not be deemed to have knowledge
of any Material Adverse Change, Default or Event of Default unless the Administrative Agent
has received written notice thereof from the Company or any Lender, referring to this
Agreement, describing such Material Adverse Change, Default or Event of Default), or (d) in
any event, be liable as such for any action taken or omitted by it or them, except for its
or their own gross negligence or willful misconduct. The appointment of Wells Fargo as
Administrative Agent hereunder shall in no way impair or affect any of the rights and
powers of, or impose any duties or obligations upon, Wells Fargo in its individual
capacity.

     (b) The term “agent” is used herein in reference to the Administrative Agent merely as
a matter of custom. It is intended to reflect only an administrative relationship between
the Administrative Agent and the other Lender Parties, in each case as independent
contracting parties. However, the obligations of the Administrative Agent shall be limited
to those expressly set forth herein. In no event shall the use of such term create or
imply any fiduciary relationship or any other obligation arising under the general law
of agency, and no implied covenants, functions, responsibilities, duties, obligations or
liabilities shall be read into this Agreement or any other Loan Document or otherwise exist
against the Administrative Agent.

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Section 8.7 Administrative Agent and Affiliates.

The Administrative Agent shall have the same rights and powers hereunder in its individual capacity
as any other Lender, and may exercise or refrain from exercising the same as though it were not the
Administrative Agent, and the Administrative Agent and its Affiliates may accept deposits from and
generally engage in any kind of business with the Borrowers as fully as if the Administrative Agent
were not the Administrative Agent hereunder.

Section 8.8 Credit Investigation.

Each Lender acknowledges that it has made its own independent credit decision and investigation and
taken such care on its own behalf as would have been the case had its Commitment been granted and
the Advances made directly by such Lender to the Borrowers without the intervention of the
Administrative Agent or any other Lender. Each Lender agrees and acknowledges that the
Administrative Agent makes no representations or warranties about the creditworthiness of the
Company or any other Borrower or other party to this Agreement or with respect to the legality,
validity, sufficiency or enforceability of this Agreement, any Loan Document, or any other
instrument or document delivered hereunder or in connection herewith.

Section 8.9 Resignation.

The Administrative Agent may resign as such at any time upon at least 30 days’ prior notice to the
Company and the Lenders. In the event of any resignation of the Administrative Agent, the Required
Lenders shall as promptly as practicable appoint a Lender as a successor Administrative Agent;
provided, however, that so long as no Default or Event of Default has occurred and is continuing at
such time, no such successor Administrative Agent may be appointed without the prior written
consent of the Company. If no such successor Administrative Agent shall have been so appointed by
the Required Lenders and shall have accepted such appointment within 30 days after the resigning
Administrative Agent’s giving of notice of resignation, then the resigning Administrative Agent
may, on behalf of the Lenders, appoint a Lender as a successor Administrative Agent, which shall be
a commercial bank organized under the laws of the United States of America or of any State thereof.
Upon the acceptance of any appointment as Administrative Agent hereunder by a successor
Administrative Agent, such successor Administrative Agent shall thereupon be entitled to receive
from the prior Administrative Agent such documents of transfer and assignment as such successor
Administrative Agent may reasonably request and the resigning Administrative Agent shall be
discharged from its duties and obligations under this Agreement. After any resignation pursuant to
this Section, the provisions of
this Section shall inure to the benefit of the retiring Administrative Agent as to any actions
taken or omitted to be taken by it while it was an Administrative Agent hereunder.

Section 8.10 Assignments.

     (a) Any Lender may, at any time, assign a portion of the Obligations and Commitment
that it holds to an Eligible Lender (an “Applicant”) on any date (the “Adjustment Date”)
selected by such Lender, subject to the terms and provisions of

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this Section 8.10. The aggregate principal amount of the Obligations and
Commitment so assigned in any assignment shall be not less than $5,000,000, and the assigning
Lender shall retain at least $5,000,000 of such Obligations and Commitment for its own account;
provided, however, that the foregoing restriction shall not apply to a Lender assigning its entire
Obligations and Commitment to the Applicant. Any Lender proposing an assignment hereunder shall
give notice of such assignment to the Administrative Agent and the Company at least ten Business
Days prior to such assignment (unless the Administrative Agent and, so long as the Company’s
consent is required for such assignment, the Company consent to a shorter period of time). Such
notice shall specify the identity of such Applicant and the Percentage which it proposes that such
Applicant acquire (which Percentage shall be the same for the Commitment and the Obligations held
by the assigning Lender). Except as provided in paragraph (d) below, any assignment hereunder may
be made only with the prior written consent of the Administrative Agent and the Company; provided,
however, that (i) in no event shall such consent be unreasonably withheld, and (ii) the consent of
the Company shall not be required if a Default or Event of Default has occurred and is continuing
at the time of such assignment.

     (b) Subject to the prior written consent of the Administrative Agent and the Company (if
applicable), to confirm the status of an Applicant as a party to this Agreement and to evidence
the assignment of the applicable portion of the assigning Lender’s Commitment and Obligations in
accordance herewith:

	 	(i)	 	the Company, such Lender, such Applicant, and the Administrative Agent shall, on or
before the Adjustment Date, execute and deliver to the Administrative Agent an Assignment
Certificate (provided that, if a Default or Event of Default has occurred and is
continuing on the applicable Adjustment Date, the assignment will be effective whether
the Company signs it or not), in substantially the form of Exhibit F (an “Assignment
Certificate”); and
	 
	 	(ii)	 	the Company will, at its own expense and in exchange for the assigning Lender’s
Revolving Note, execute and deliver to the assigning Lender a new Revolving Note, payable
to the order of the Applicant in an amount
corresponding to the applicable interest in the assigning Lender’s rights and obligations
acquired by such Applicant pursuant to such assignment, and, if the assigning Lender has
retained interests in such rights and obligations, a new Revolving Note, payable to the
order of that Lender in an amount corresponding to such retained interests.
Such new Revolving Notes shall be in an aggregate principal amount equal to the
principal amount of the Revolving Note to be replaced by such new Revolving Notes
(or, if less, the Commitment Amount of the assigning Lender prior to giving
effect to such assignment, unless such assignment is made after the Commitment
Termination Date, in which case the aggregate principal amount of the new
Revolving Notes shall

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equal the outstanding principal balance of the Revolving Note to be replaced by
such new Revolving Notes), shall be dated the effective date of such assignment
and shall otherwise be in the form of the Revolving Note to be replaced thereby.
Such new Revolving Notes shall be issued in substitution for, but not in
satisfaction or payment of, the Revolving Note being replaced thereby; and

Upon the execution and delivery of such Assignment Certificate and such Revolving Notes, (a) this
Agreement shall deemed to be amended to the extent, and only to the extent, necessary to reflect
the addition of such Additional Lender and the resulting adjustment of Percentages arising
therefrom, (b) the assigning Lender shall be relieved of all obligations hereunder to the extent
of the reduction of such Lender’s Percentage, and (c) the Additional Lender shall become a party
hereto and shall be entitled to all rights, benefits and privileges accorded to a Lender herein
and in each other document or instrument executed pursuant hereto and subject to all obligations
of a Lender hereunder, including the right to approve or disapprove actions which, in accordance
with the terms hereof, require the approval of the Required Lenders or all Lenders, and the
obligations to make Advances hereunder.

     (c) In order to facilitate the addition of Additional Lenders hereto, the Company shall
(subject to the written agreement of any prospective Additional Lender to be subject to the
confidentiality provisions of Section 8.13) provide all reasonable assistance requested by each
Lender and the Administrative Agent relating thereto, which shall not require undue effort or
expense on the part of the Company, including, without limitation, the furnishing of such written
materials and financial information regarding the Company and its Subsidiaries as any Lender or
the Administrative Agent may reasonably request, and the participation by officers of the Company
and its Subsidiaries in a meeting or teleconference call with any Applicant upon the reasonable
request upon reasonable notice of any Lender or the Administrative Agent.

     (d) Without limiting any other provision hereof:

	     	 (i)	 	each Lender shall have the right at any time upon written notice to the Company and
the Administrative Agent (but without requiring the consent of the Company or the
Administrative Agent) to sell, assign, transfer, or negotiate all or any part of its
Commitment, Obligations, Notes, and other rights and obligations under this Agreement and
the Loan Documents to one or more Affiliates of such Lender, provided that, unless
consented to by the Company and the Administrative Agent (which consent shall not be
unreasonably withheld), no such sale, assignment, transfer or negotiation of Commitment
shall relieve the transferring Lender from its obligations (to the extent such Affiliate
does not fulfill its obligations) hereunder; and

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	     	 (ii)	 	each Lender shall have the right at any time upon written notice to the Company and
the Administrative Agent (but without requiring the consent of the Company or the
Administrative Agent) to sell, assign, transfer, or negotiate all or any part of its
Commitment, Obligations, Notes, and other rights and obligations under this Agreement and
the Loan Documents to one or more Lenders, and any such sale, assignment, transfer or
negotiation shall relieve the transferring Lender from its obligations hereunder to the
extent of the obligations so transferred (except, in any event, to the extent that the
Company, any other Lender or the Administrative Agent has rights against such
transferring Lender as a result of any default by such transferring Lender under this
Agreement);

provided, however, that any partial sale, assignment, transfer or negotiation pursuant to
this Section shall be pro rata as to all of the Commitment, Obligations and Advances
transferred.

     (e) Simultaneously with any assignment under this Section, the Lender making such
assignment shall pay the Administrative Agent a transfer fee in the amount of $3,500.

     (f) Notwithstanding any other provision of this Agreement, any Lender may at any time
create a security interest in all or any portion of its rights under this Agreement and
that Lender’s Obligations in favor of any Federal Reserve Bank in accordance with
Regulation A of the Board of Governors of the Federal Reserve System.

     (g) The Administrative Agent shall maintain a copy of each Assignment Certificate
delivered to it and a register for the recordation of the names and addresses of the
Lenders, and the Commitment of, principal amount of the Advances by, and amount of the
participation in Letters of Credit of each Lender (the “Register”). The entries in the
Register shall be conclusive, and all of the parties to this Agreement shall treat each
Person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice
to the contrary. The Register shall be available for inspection by any party to this
Agreement from time to time upon reasonable notice.

     (h) Upon its receipt of a duly completed and executed Assignment
Certificate and the transfer fee required by Section 8.10(e), the Administrative Agent will
accept such Assignment Certificate and record the information therein in the Register. No
assignment shall be effective for purposes of this Agreement unless it has been recorded in
the Register as provided in this subsection.

Section 8.11 Participations

Each Lender may grant participations in a portion of its Obligations and Commitments to any
Eligible Lender, upon prior written notice to the Administrative Agent but without the

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consent of the Administrative Agent or the Company, but only so long as the principal amount of the
participation so granted is no less than $5,000,000 (or, if the participant is a Participating
Affiliate, no less than $1,000,000). No holder of any such participation, other than an Affiliate
of such Lender, shall be entitled to require such Lender to take or omit to take any action
hereunder, except that such Lender may agree with such participant that such Lender will not,
without such participant’s consent, agree to any action described in paragraph (a) of Section 9.3.
No Lender shall, as between the Borrowers and such Lender, be relieved of any of its obligations
hereunder as a result of any such granting of a participation. The Borrowers hereby acknowledge and
agree that any participant described in this Section will, for purposes of Sections 2.16, 2.17 and
2.18 only, be considered to be a Lender hereunder (provided that such participant shall not be
entitled to receive any more than the Lender selling such participation would have received had
such sale not taken place). For the avoidance of doubt, no participant will be entitled to the
benefits of Section 2.17 unless it complies with the provisions of Section 2.17(c) as if such
participant were a Lender hereunder.

Section 8.12 Limitation on Assignments and Participations.

Except as set forth in Sections 8.10 and 8.11, no Lender may assign any of its rights or
obligations under, or grant any participation in, any Loan Document or Commitment.

Section 8.13 Disclosure of Information.

The Lender Parties shall keep confidential (and cause their respective officers, directors,
employees, agents and representatives to keep confidential) all information, materials and
documents furnished by the Company and its Subsidiaries to the Administrative Agent or the Lenders
(the “Disclosed Information”). Notwithstanding
the foregoing, the Administrative Agent and each Lender may disclose Disclosed Information (i) to
the Administrative Agent or any other Lender; (ii) to any Affiliate of any Lender in connection
with the transactions contemplated hereby, provided that such Affiliate has been informed of the
confidential nature of such information; (iii) to legal counsel, accountants and other professional
advisors to the Administrative Agent or such Lender; (iv) to any regulatory body having
jurisdiction over any Lender or the Administrative Agent; (v) to the extent required by applicable
laws and regulations or by any subpoena or similar legal process, or requested by any governmental
agency or authority; (vi) to the extent such Disclosed Information (A) becomes publicly available
other than as a result of a breach of this Agreement, (B) becomes available to the Administrative
Agent or such Lender on a non-confidential basis from a source other than the Company or a
Subsidiary, or (C) was available to the Administrative Agent or such Lender on a non-confidential
basis prior to its disclosure to the Administrative Agent or such Lender by the Company or a
Subsidiary; (vii) to the extent the Company or such Subsidiary shall have consented to such
disclosure in writing; (viii) to the extent reasonably deemed necessary by the Administrative Agent
or any Lender in the enforcement of the remedies of the Lender Parties provided under the Loan
Documents; or (ix) in connection with any potential assignment or participation in the interest
granted hereunder, provided that any such potential assignee or participant shall have executed a
confidentiality agreement imposing on

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such potential assignee or participant substantially the same obligations as are imposed on the
Lender Parties under this Section 8.13.

Section 8.14 Titles.

The
Persons identified on the title page as “Sole Book Runner”, “Arranger”, “Co-Syndication Agent”, and “Co-Documentation Agent” shall have no right, power, obligation or liability
under this Agreement or any other Loan Document on account of such identification other than those
applicable to such Persons in their capacity (if any) as Lenders. Each Lender acknowledges that it
has not relied, and will not rely, on any Person so identified in deciding to enter into this
Agreement or in taking or omitting any action hereunder.

ARTICLE IX

Miscellaneous

Section 9.1 No Waiver; Cumulative Remedies.

No failure or delay on the part of the Lenders in exercising any right, power or remedy under the
Loan Documents shall operate as a waiver thereof; nor shall any Lender’s acceptance of payments
while any Default or Event of Default is outstanding operate as a waiver of such Default or Event
of Default, or any right, power or remedy under the Loan Documents; nor shall any single or partial
exercise
of any such right, power or remedy preclude any other or further exercise thereof or the exercise
of any other right, power or remedy under the Loan Documents. The remedies provided in the Loan
Documents are cumulative and not exclusive of any remedies provided by law.

Section 9.2 Designation of Designated Subsidiaries.

At any time and from time to time, the Company may designate any Eligible Subsidiary as a
“Designated Subsidiary” by delivering to the Administrative Agent a Designation Letter, duly
executed by the Company and such Eligible Subsidiary. Upon receipt of such Designation Letter by
the Administrative Agent, and approval of the Administrative Agent if required to confirm that the
applicable Subsidiary is an Eligible Subsidiary, such Eligible Subsidiary shall thereupon become a
“Designated Subsidiary” for purposes of this Agreement and, as such, shall have all of the rights
and obligations of a Borrower hereunder. The Administrative Agent shall promptly notify each Lender
of each such designation by the Company and the identity of such Eligible Subsidiary. The Company’s
designation of an Eligible Subsidiary as such shall be irrevocable, and no Subsidiary shall cease
to be a Designated Subsidiary without the prior written consent of the Required Lenders. Upon
request of any Lender, each Designated Subsidiary shall execute any Revolving Note delivered
hereunder, but the failure of the Borrowers other than the Company to execute such Revolving Note
shall not diminish the liability of any Borrower with respect to the indebtedness evidenced
thereby.

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Section 9.3 Amendments, Etc.

No amendment or waiver of any provision of any Loan Document or consent to any departure by the
Borrowers therefrom shall be effective unless the same shall be in writing and signed by the
Required Lenders (or by the Administrative Agent with the consent or at the request of the Required
Lenders), and any such waiver shall be effective only in the specific instance and for the specific
purpose for which given. Notwithstanding the foregoing:

     (a) No such amendment or waiver shall be effective to do any of the following unless
signed by each of the Lenders (or by the Administrative Agent with the consent or at the
request of each of the Lenders):

	 	(i)	 	Increase the Commitment Amount of any Lender or extend the Commitment
Termination Date.
	 
	 	(ii)	 	Permit any Borrower to assign its rights under this Agreement.
	 
	 	(iii)	 	Amend this Section, the definition of “Required
Lenders” in Section 1.1, or any
provision herein providing for consent or other action by all Lenders.
	 
	 	(iv)	 	Forgive any indebtedness of any Borrower arising under this Agreement or any L/C
Application or evidenced by the Notes, or reduce the rate of interest or any fees
charged under this Agreement or the Notes.
	 
	 	(v)	 	Postpone or delay any date fixed by this Agreement or any other Loan Document for any
payment of principal, interest, facility fees or other material amounts due to any Lender
Party hereunder or under any other Loan Document.
	 
	 	(vi)	 	Amend Section 2.10(iii), 2.11(i) or 8.2(a) in a manner that would alter the pro
rata sharing required thereby.

     (b) No amendment, waiver or consent shall affect the rights or duties of the
Administrative Agent under this Agreement or any other Loan Document unless in writing and
signed by the Administrative Agent.

     (c) No amendment, modification or (except as provided elsewhere herein) termination of
this Agreement or waiver of any rights of any Borrower or obligations of any Lender or the
Administrative Agent hereunder shall be effective unless that Borrower shall have consented
thereto in writing.

No notice to or demand on any Borrower in any case shall entitle any Borrower to any other or
further notice or demand in similar or other circumstances.

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Section 9.4 Notices.

     (a) Generally. Except as otherwise expressly provided herein, all notices and other
communications hereunder shall be in writing and shall be (i) personally delivered, (ii)
transmitted by registered mail, postage prepaid, (iii) sent by Federal Express or similar
expedited delivery service, or (iv) transmitted by telecopy, in each case addressed or
transmitted by telecopy to the party to whom notice is being given at its address or
telecopier number (as the case may be) as set forth in Exhibit A or in any applicable
Assignment Certificate; or, as to each party, at such other address or telecopier number as
may hereafter be designated in a notice by that party to the other party complying with the
terms of this Section. All such notices or other communications shall be deemed to have
been given on (w) the date received if delivered personally, (x) five business days after
the date of posting, if delivered by mail, (y) the date of receipt, if delivered by Federal
Express or similar expedited delivery service, or (z) the date of transmission if delivered
by telecopy, except that notices or requests to the Lenders pursuant to any of the
provisions of Article II shall not be effective as to any Lender until received by that
Lender. Notice given by any Lender Party to the Company at the address and/or telecopier
number determined as set forth in this Section shall be deemed sufficient as to all
Borrowers, regardless of whether the other
Borrowers are sent separate copies of such notice or even specifically identified in
such notice. The Company shall be deemed to be authorized to provide any communication
hereunder (including but not limited to requests for Advances and requests regarding
interest rates under Section 2.3) on behalf of any Borrower.

     (b) Use of Platform to Distribute Communications. The Administrative Agent may make
any material delivered by any Borrower to the Administrative Agent, as well as any
amendments, waivers, consents, and other written information, documents, instruments and
other materials relating to the Company or any of its Subsidiaries, or any other materials
or matters relating to any Loan Documents, or any of the transactions contemplated hereby
or thereby (collectively, the “Communications”) available to the Lender Parties by posting
such notices on an electronic delivery system such as IntraLinks or a substantially similar
electronic system (the “Platform”). The Borrowers acknowledge that (i) the distribution of
material through an electronic medium is not necessarily secure and that there are
confidentiality and other risks associated with such distribution, (ii) the Platform is
provided “as is” and “as available” and (iii) neither the Administrative Agent nor any of its
Affiliates warrants the accuracy, completeness, timeliness, sufficiency, or sequencing of
the Communications posted on the Platform. The Administrative Agent and its Affiliates
expressly disclaim with respect to the Platform any liability for errors in transmission,
incorrect or incomplete downloading, delays in posting or delivery, or problems accessing
the Communications posted on the Platform and any liability for any losses, costs, expenses
or liabilities that may be suffered or incurred in connection with the Platform. No
warranty of any kind, express, implied or statutory, including any warranty of
merchantability, fitness for a particular purpose,

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non-infringement of third party rights or freedom from viruses or other code defects, is
made by the Administrative Agent or any of its Affiliates in connection with the Platform.

Section 9.5 Costs and Expenses.

The Company agrees to pay on demand (i) all costs and expenses incurred by the Administrative Agent
in connection with the negotiation, preparation, execution, administration or amendment of the Loan
Documents and the other instruments and documents to be delivered hereunder and thereunder, and
(ii) all costs and expenses incurred by the Administrative Agent or any Lender in connection with
the workout or enforcement of the Loan Documents and the other instruments and documents to be
delivered hereunder and thereunder; including, in each case, reasonable fees and out-of-pocket
expenses of counsel with respect thereto, whether paid to outside counsel or allocated to the
Administrative Agent or such Lender by in-house counsel. The Company also agrees to pay and
reimburse the Administrative Agent for all of its
out-of-pocket and allocated costs incurred in connection with each audit or examination conducted
by the Administrative Agent, its employees or agents, which audits and examinations shall be for
the sole benefit of the Lender Parties.

Section 9.6 Indemnification by Borrowers.

Each Borrower hereby agrees to indemnify each Lender Party and each officer, director, employee and
agent thereof (herein individually each called an “Indemnitee” and collectively called the
“Indemnitees”) from and against any and all losses, claims, damages, reasonable expenses
(including, without limitation, reasonable attorneys’ fees) and liabilities (all of the foregoing
being herein called the “Indemnified Liabilities”) incurred by an Indemnitee in connection with or
arising out of the execution or delivery of this Agreement or any agreement or instrument
contemplated hereby, the performance by the parties hereto of their respective obligations
hereunder or the use of the proceeds of any Advance or Letter of Credit hereunder (including but
not limited to any such loss, claim, damage, expense or liability arising out of any claim that any
Environmental Law has been breached with respect to any activity or property of the Company or its
Subsidiaries), except with respect to taxes, which shall be governed by Section 2.17, and except
for any portion of such losses, claims, damages, expenses or liabilities incurred solely as a
result of the gross negligence or willful misconduct of the applicable Indemnitee. If and to the
extent that the foregoing indemnity may be unenforceable for any reason, each Borrower hereby
agrees to make the maximum contribution to the payment and satisfaction of each of the Indemnified
Liabilities which is permissible under applicable law. All obligations provided for in this Section
shall survive any termination of this Agreement. Notwithstanding the foregoing, the Borrowers shall
not be obligated to indemnify any Indemnitee in respect of any Indemnified Liabilities arising as a
result of the Issuing Bank’s failure to pay any Letter of Credit after the presentation to it of a
request strictly complying with the terms and conditions of such Letter of Credit.

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Section 9.7 Execution in Counterparts.

This Agreement and the other Loan Documents may be executed in any number of counterparts, each of
which when so executed and delivered shall be deemed to be an original and all of which
counterparts of this Agreement or such other Loan Document, as the case may be, taken together,
shall constitute but one and the same instrument.

Section 9.8 Binding Effect, Assignment.

The Loan Documents shall be binding upon and inure to the benefit of the Borrowers and the Lender
Parties and their respective successors and assigns, except that no Borrower shall have the right
to assign its rights thereunder or any interest therein without the prior written consent of each
of the Lenders.

Section 9.9 Governing Law.

The Loan Documents shall be governed by, and construed in accordance with, the laws of the State of
Minnesota.

Section 9.10 Severability of Provisions.

Any provision of this Agreement which is prohibited or unenforceable shall be ineffective to the
extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof.

Section 9.11 Consent to Jurisdiction.

Each party irrevocably (i) agrees that any suit, action or other legal proceeding arising out of or
relating to this Agreement or any other Loan Document may be brought in a court of record in
Hennepin County in the State of Minnesota or in the courts of the United States located in such
State, (ii) consents to the jurisdiction of each such court in any suit, action or proceeding,
(iii) waives any objection which it may have to the laying of venue of any such suit, action or
proceeding in any such courts and any claim that any such suit, action or proceeding has been
brought in an inconvenient forum, and (iv) agrees that a final judgment in any such suit, 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.

Section 9.12 Waiver of Jury Trial.

THE BORROWERS AND THE LENDER PARTIES HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING
INVOLVING, DIRECTLY OR
INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF,
RELATED TO, OR
CONNECTED WITH THIS AGREEMENT AND THE NOTES OR THE RELATIONSHIPS ESTABLISHED HEREUNDER.

-65-

 

Section 9.13 Prior Agreements; Restatement of Existing Credit Agreement.

This Agreement and the other Loan Documents and related documents described herein restate and
supersede in their entirety any and all prior agreements and understandings, oral or written,
between the Lenders and the Borrowers relating to the subject matter hereof. Without limiting the
generality of the foregoing, upon satisfaction of the conditions precedent set forth in Section 3.1
hereof, the Existing Credit Agreement shall be and hereby is amended, superseded and restated in
its entirety by the terms and provisions of this Agreement. This Agreement shall not constitute a
novation of the Existing Credit Agreement or the indebtedness created thereunder. The Company shall
have the obligation to pay any fees and interest under
the Existing Credit Agreement accruing through the effective date of this Agreement. All
outstanding Letters of Credit (as defined in the Existing Credit Agreement) shall continue as
Letters of Credit hereunder.

Section 9.14 General Release.

Effective upon the first Credit Extension, the Company hereby absolutely and unconditionally
releases and forever discharges each Indemnitee (as defined in Section 9.6) from any and all
claims, demands or causes of action (arising from the beginning of time to and including the date
of this Agreement) of any kind, nature or description, whether arising in law or equity or upon
contract or tort or under any state or federal law or otherwise, whether such claims, demands and
causes of action are matured or unmatured or known or unknown, which the Company has had, now has
or may claim to have against any Indemnitee for or by reason of any act, omission, matter, cause or
thing arising out of or in any way related to the Existing Credit Agreement or any document
executed in connection therewith.

Section 9.15 Recalculation of Covenants Following Accounting Practices Change.

The Company shall notify the Administrative Agent of any Accounting Practices Change promptly upon
becoming aware of the same. Promptly following such notice, the Company and the Lenders shall
negotiate in good faith in order to effect any adjustments to the Financial Covenants necessary to
reflect the effects of such Accounting Practices Change.

Section 9.16 Headings.

Article and Section headings in this Agreement are included herein for convenience of reference
only and shall not constitute a part of this Agreement for any other purpose.

Section 9.17 Nonliability of Lenders.

The relationship between the Borrowers on the one hand and the Lenders, the Issuing Bank and the
Administrative Agent on the other hand shall be solely that of borrower and lender. Neither the
Administrative Agent, any Lender nor the Issuing Bank shall have any fiduciary responsibilities to
the Borrowers. Neither the Administrative Agent, any Lender nor the Issuing Bank undertakes any
responsibility to any Borrower to review or inform the Borrowers of any matter in connection with
any phase of the Borrowers’ business or

-66-

 

operations. The Borrowers agree that neither the Administrative Agent, any Lender nor the Issuing
Bank shall have liability to the Borrowers (whether sounding in tort, contract or otherwise) for
losses suffered by any Borrower in connection with, arising out of, or in any way related to, the
transactions contemplated and the relationship established by the Loan Documents, or any act,
omission or event occurring in
connection therewith, unless it is determined in a final non-appealable judgment by a court of
competent jurisdiction that such losses resulted from (i) the gross negligence or willful
misconduct of the party from which recovery is sought or (ii) the Issuing Bank’s failure to pay any
Letter of Credit after the presentation to it of a request strictly complying with the terms and
conditions of such Letter of Credit. Neither the Administrative Agent, any Lender nor the Issuing
Bank shall have any liability with respect to, and each Borrower hereby waives, releases and agrees
not to sue for, any special, indirect or consequential damages suffered by any Borrower in
connection with, arising out of, or in any way related to the Loan Documents or the transactions
contemplated thereby.

Section 9.18 Customer Identification -USA Patriot Act Notice.

The Administrative Agent hereby notifies the Borrowers that pursuant to the requirements of the USA
Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the “Act”), and the
Administrative Agent’s policies and practices, each Lender is required to obtain, verify and record
certain information and documentation that identifies each Borrower, which information includes the
name and address of each Borrower and such other information that will allow each Lender to
identify each Borrower in accordance with the Act.

[Signature Pages Follow]

-67-

 

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

	 	 	 	 	 
	 	SENSIENT TECHNOLOGIES CORPORATION

 	 
	 	By  	/s/  John F. Collopy
 	 
	 	 	Name: John F. Collopy 	 
	 	 	Title:  	Treasurer 	 
	 

Signature
Page to Sensient Technologies Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL 

     ASSOCIATION, as Administrative

     Agent and as a Lender 

 	 
	 	By  	/s/ Mark H. Halldorson
 	 
	 	 	Name:  	Mark H. Halldorson 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Sensient
Technologies Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION 

 	 
	 	By  	/s/  Thomas J. Purcell
 	 
	 	 	Name:  	Thomas J. Purcell  	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature
Page to Sensient Technologies Corporation Credit
Agreement

 

 

	 	 	 	 	 
	 	WACHOVIA BANK, NATIONAL ASSOCIATION

 	 
	 	By  	/s/ Patrick J. Kaufmann
 	 
	 	 	Name:  	Patrick J. Kaufmann  	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature
Page to Sensient Technologies Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	NATIONAL CITY BANK

 	 
	 	By  	/s/ Stephen E. Green
 	 
	 	 	Name:  	Stephen E. Green 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature
Page to Sensient Technologies Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF MONTREAL, Chicago Branch

 	 
	By   	/s/ Betzaida Erdelyi
 	 
	 	Name:  	Betzaida Erdelyi 	 
	 	Title:  	Director	 
	 

Signature
Page to Sensient Technologies Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	THE BANK OF TOKYO-MITSUBISHI 
   
UFJ, LTD., Chicago Branch

 	 
	 	By  	/s/ Masakazu Sato
 	 
	 	 	Name:  	Masakazu Sato 	 
	 	 	Title:  	Deputy General Manager 	 
	 

Signature
Page to Sensient Technologies Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	COÖPERATIEVE CENTRALE 

RAIFFEISEN-BOERENLEEN BANK 

B.A., “Rabobank Nederland”, New 

York Branch 

 	 
	 	By  	/s/ Michael L. Laurie
 	 
	 	 	Name:  	Michael L. Laurie 	 
	 	 	Title:  	Executive Director 	 
	 
	 	 	 
	 	By  	/s/ Andrew Sherman
 	 
	 	 	Name:  	Andrew Sherman 	 
	 	 	Title:  	Executive Director 	 
	 

Signature
Page to Sensient Technologies Corporation Credit Agreement

 

 

	 	 	 	 	 
	 	THE GOVERNOR AND COMPANY OF THE
BANK	 
	 	     OF IRELAND	 
	 
	 	By  	/s/ Daniel McAneney
 	 
	 	 	Name : Daniel McAneney 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	 	 
	 	By  	/s/ Frank Schmitt
 	 
	 	 	Name : Frank Schmitt 	 
	 	 	Title:  	Authorised Signatory 	 
	 

Signature
Page to Sensient Technologies Corporation Credit Agreement

 

 

EXHIBITS AND SCHEDULES

	 	 	 
	Exhibit A

	 	Commitment Amounts and Addresses
	Exhibit B

	 	Revolving Note
	Exhibit C

	 	Swing Line Note
	Exhibit D

	 	Compliance Certificate
	Exhibit E

	 	Opinion of Borrowers’ Counsel
	Exhibit F

	 	Assignment Certificate
	Exhibit G

	 	Borrowing Certificate
	Exhibit H

	 	Designation Certificate
	 
	 	 
	Schedule 4.2

	 	Consents
	Schedule 4.4

	 	Subsidiaries
	Schedule 4.7

	 	Litigation
	Schedule 4.8

	 	Environmental Matters
	Schedule 6.1

	 	Liens
	Schedule 6.10

	 	Existing Investments
	Schedule 6.11

	 	Guaranties, Etc.

 

 

 

Exhibit A 

COMMITMENT AMOUNTS AND ADDRESSES

	 	 	 	 	 
	Name	 	Commitment Amount	 	Notice Address
	Sensient Technologies Corporation
	 	N/A	 	777 East Wisconsin Avenue
	 
	 	 	 	Milwaukee, WI 53202-5304
	 
	 	 	 	Attention: Richard F. Hobbs
	 
	 	 	 	Telecopier: 414-347-4794
	 
	 	 	 	 
	Wells Fargo Bank, National
	 	N/A	 	MAC N9305-031
	Association, as Administrative
	 	 	 	Sixth and Marquette
	Agent
	 	 	 	Minneapolis, Minnesota 55479
	 
	 	 	 	Attention: Mark Halldorson
	 
	 	 	 	Telecopier: 612-667-2276
	 
	 	 	 	 
	Wells Fargo Bank, National
	 	$50,000,000	 	MAC N9305-031
	Association, as a Lender
	 	 	 	Sixth and Marquette
	 
	 	 	 	Minneapolis, Minnesota 55479
	 
	 	 	 	Attention: Mark Halldorson
	 
	 	 	 	Telecopier: 612-667-2276
	 
	 	 	 	 
	Keybank National Association
	 	$40,000,000	 	127 Public Square
	 
	 	 	 	Cleveland, OH 44114
	 
	 	 	 	Attention: Brian Fox
	 
	 	 	 	Telecopier: 216-689-4649
	 
	 	 	 	 
	Wachovia Bank, National
	 	$40,000,000	 	2240 Butler Pike PA5414
	Association
	 	 	 	Plymouth, PA 19482
	 
	 	 	 	Attention: Patrick Kaufmann
	 
	 	 	 	Telecopier: 610-397-2558
	 
	 	 	 	 
	National City Bank
	 	$40,000,000	 	1 North Franklin, Suite 20th Floor
	 
	 	 	 	Chicago, IL 60606
	 
	 	 	 	Attention: Stephanie Kline
	 
	 	 	 	Telecopier: 312-240-0301
	 
	 	 	 	 
	Bank of Montreal, Chicago Branch
	 	$40,000,000	 	111 West Monroe Street
	 
	 	 	 	Chicago, IL 60603-4095
	 
	 	 	 	Attention: Betsy Erdelyi
	 
	 	 	 	Telecopier: 312-461-4049
	 
	 	 	 	 
	The Bank of Tokyo-Mitsubishi UFJ,
	 	$35,000,000	 	227 W. Monroe St., Suite 2300
	Ltd., Chicago Branch
	 	 	 	Chicago, IL 60606
	 
	 	 	 	Attention: Wayne Yamanaka 
	 
	 	 	 	Telecopier: 312-696-4535
	 
	Cooperatieve Centrale Raiffeisen-
	 	$35,000,000	 	123 North Wacker Drive, Suite 2100
	Boerenleenbank B.A.,
	 	 	 	Chicago, IL 60606
	“Rabobank Nederland”, New
	 	 	 	Attention: Michael L. Laurie
	York Branch
	 	 	 	Telecopier: 312-408-8240
	 
	 	 	 	 
	The Governor and Company of the
	 	$20,000,000	 	B2, Lower Baggot Street
	Bank of Ireland
	 	 	 	Dublin 2
	 
	 	 	 	Ireland
	 
	 	 	 	Attention: Noelle McGrath/Ciaran Doyle
	 
	 	 	 	Telecopier: 353-1-604-4798

 

 

Exhibit B 

PROMISSORY NOTE

 

			
	$                    
	 	Minneapolis, Minnesota
	 
	 	                    , 20     

     For value received, Sensient Technologies Corporation, a Wisconsin
corporation (the “Company”), promises to pay to the order of

                                                                    
            (the “Lender”), at such
place as the Administrative Agent under the Credit Agreement defined below may from time
to time designate in writing, the principal sum of                                         Dollars
($                     ), or, if less, the aggregate unpaid principal amount of all advances made
by the Lender to the Borrowers (as defined in the Credit Agreement described below) pursuant to
Section 2.1 of the Credit Agreement dated June 15, 2007 among the Company, the other Borrowers (as
defined therein), the Lender, certain other Lenders (as defined therein), and Wells Fargo Bank,
National Association, as Administrative Agent (together with all amendments, modifications and
restatements thereof, the “Credit Agreement”), and to pay interest on the principal balance of this
Note outstanding from time to time at the rate or rates determined pursuant to the Credit
Agreement.

     This Note is issued pursuant to, and is subject to, the Credit Agreement, which provides
(among other things) for the amount and date of payments of principal and interest required
hereunder, for the acceleration of this Note upon an Event of Default and for the voluntary
prepayment of this Note. This Note is a Revolving Note, as defined in the Credit Agreement.

     The Borrowers shall pay all costs of collection, including reasonable attorneys’ fees and
legal expenses, if this Note is not paid when due, whether or not legal proceedings are commenced.

     Presentment or other demand for payment, notice of dishonor and protest are expressly waived.

	 	 	 	 	 	 	 	 	 
	 	 	SENSIENT TECHNOLOGIES CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

 

 

Exhibit C 

SWING LINE NOTE

      

			
	$20,000,000
	 	Minneapolis, Minnesota
	 
	 	June 15, 2007

     For value received, Sensient Technologies Corporation, a Wisconsin corporation (the
“Company”), promises to pay to the order of Wells Fargo Bank, National Association (the “Swing Line
Lender”), at the office of the Swing Line Lender in Minneapolis, Minnesota, the principal sum of
Twenty Million Dollars ($20,000,000), or, if less, the aggregate unpaid principal amount of all
Swing Line Advances made by the Swing Line Lender to the Company pursuant to Section 2.20 of the
Credit Agreement of even date herewith among the Company, the other Borrowers (as defined therein),
the Swing Line Lender, certain other Lenders (as defined therein), and Wells Fargo Bank, National
Association, as Administrative Agent (together with all amendments, modifications and restatements
thereof, the “Credit Agreement”), and to pay interest on the principal balance of this Note
outstanding from time to time at the rate or rates determined pursuant to the Credit Agreement.

     This Note is issued pursuant to, and is subject to, the Credit Agreement, which provides
(among other things) for the amount and date of payments of principal and interest required
hereunder, for the acceleration of this Note upon an Event of Default and for the voluntary
prepayment of this Note. This Note is the Swing Line Note, as defined in the Credit Agreement.

     The Company shall pay all costs of collection, including reasonable attorneys’ fees and legal
expenses, if this Note is not paid when due, whether or not legal proceedings are commenced.

     Presentment or other demand for payment, notice of dishonor and protest are expressly waived.

	 	 	 	 	 	 	 	 	 
	 	 	SENSIENT TECHNOLOGIES CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

 

 

Exhibit D 

COMPLIANCE CERTIFICATE

                    , 20     

Wells Fargo Bank, National Association,

          for itself and as Administrative Agent under 

          the Credit Agreement described below

The Lenders, as defined under the Credit

          Agreement described below

Ladies and Gentlemen:

     Reference is made to the Credit Agreement dated as of June 15, 2007, as it may be amended from
time to time (the “Credit Agreement”) among Sensient Technologies Corporation (the “Company”), the
Lenders (as defined therein), and Wells Fargo Bank, National Association, as Administrative Agent.
All terms defined in the Credit Agreement and not otherwise defined herein shall have the meanings
given them in the Credit Agreement.

     This is a Compliance Certificate submitted in connection with the Company’s
financial statements (the “Statements”) as of                     ,      (the “Covenant Date”).
I hereby certify to you as follows:

     (a) I am the                      [**chief financial officer/treasurer] of
the Company, and I am familiar with the financial statements and financial affairs of the
Company.

     (b) The Statements have been prepared in accordance with GAAP, [subject
to year-end audit adjustments].

     (c) The computations on the Annexes hereto set forth the Company’s
compliance or non-compliance with the requirements set forth in Sections 6.7, 6.8
and 6.9 as of the Covenant Date.

     I have no knowledge of the occurrence of any Default or Event of Default, except as set forth
in the attachments, if any, hereto.

 

 

	 	 	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	SENSIENT TECHNOLOGIES CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

 

 

ANNEX 1 TO COMPLIANCE CERTIFICATE

Leverage Ratio (Section
6.7)

	 	 	 	 	 	 	 	 	 	 	 
	1.
	 	Total Funded Debt	 	 	 	 	 	 	 	 
	 
	 	(a) Indebtedness for Borrowed Money	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(b) Purchase Money Debt (9 month maturity or Note)	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(c) Capitalized Lease Obligations	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(d) Other Debt Secured by Lien	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(e) Other Notes and Drafts	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(f) Bonds, Notes and Similar	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(g) Letters of Credit and Acceptances	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(h) Net liabilities under Swap Contracts	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(i) Guaranties of indebtedness of others	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(j) Off-Balance Sheet Liabilities	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(k) Total Funded Debt (sum of Items (a) through (j))	 	 	 	 	 	$	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	2.
	 	EBITDA	 	 	 	 	 	 	 	 
	 
	 	(a) EBITR (from Annex 2, Item l(e)	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(b) Rental Expense (from Annex 2, Item l(d))	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(c) Depreciation	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(d) Amortization	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(e) EBITDA ((a)-(b)+(c)+(d)	 	 	 	 	 	$	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	3.
	 	Leverage Ratio (Ratio of Item l(k) to Item 2(f))	 	 	 	 	 	 	 	 
	 
	 	(not to be greater than 3.50 to 1.0)	 	 	 	 	 	____ to 1.0	 

 

 

     ANNEX 2 TO COMPLIANCE CERTIFICATE

Fixed Charge
Coverage Ratio (Section 6.8)

	 	 	 	 	 	 	 	 	 	 	 
	1.
	 	EBITR	 	 	 	 	 	 	 	 
	 
	 	(a) Net income	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(b) Non-operating gains (to be subtracted)	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(c) Non-operating losses (to be added)	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(d) Interest Expense	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(e) Income taxes	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(f) Rental Expense	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(g) EBITR ((a)-(b)+total of (c) through (f))	 	 	 	 	 	$	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	2.
	 	Fixed Charges	 	 	 	 	 	 	 	 
	 
	 	(a) Interest Expense	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(b) Rental Expense	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(c) Fixed charges (total of (a) and (b))	 	 	 	 	 	$	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	3.
	 	Fixed Charge Coverage Ratio (Ratio
of Item I(g) to ltem2(c))	 	 	 	 	 	 	 	 
	 
	 	(not to be less than 2.0 to 1.0)	 	 	 	 	 	___ to 1.0	 

 

 

     ANNEX 3 TO COMPLIANCE CERTIFICATE

Adjusted Net
Worth (Section 6.9)

	 	 	 	 	 	 	 	 	 	 	 
	1.
	 	Base Net Worth	 	 	 	 	 	$	505,790,400	 
	2.
	 	Additional net income component	 	 	 	 	 	 	 	 
	 
	 	(a) Positive quarterly net income in quarters ending 12/31/06 or later	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(b) Multiplier	 	 	50	%	 	 	 	 
	 
	 	(c) Additional net income ((a)*(b))	 	 	 	 	 	$	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	4.
	 	Minimum Net Worth (l+2(c))	 	 	 	 	 	$	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	5.
	 	Adjusted Net Worth	 	 	 	 	 	 	 	 
	 
	 	(a) Capital stock accounts net of treasury stock	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(b) Retained earnings surplus (or deficit)	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(c) Specified Investments	 	$	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	(d) Adjusted Net Worth ((a)±(b)-(c)) (not to be less than total in #4)	 	 	 	 	 	$	 	 
	 
	 	 	 	 	 	 	 	 	 	 

 

 

Exhibit E 

OPINION OF BORROWERS’ COUNSEL

[To be Provided]

 

 

Exhibit F

ASSIGNMENT CERTIFICATE

Assigning Lender:                                                             

Applicant:                                                             

     This Certificate (the “Certificate”) is delivered pursuant to Section 8.10 of the Credit
Agreement dated as of June 15, 2007 (together with all amendments, supplements, restatements and
other modifications, if any, from time to time made thereto, the “Credit Agreement”), among
Sensient Technologies Corporation, a Wisconsin corporation (the “Company”), the Lenders (as defined
therein), and Wells Fargo Bank, National Association, as Administrative Agent.

     The Assigning Lender named above wishes to assign a portion of its interest arising under the
Credit Agreement to the Applicant named above pursuant to Section 8.10 of the Credit Agreement, and
the Applicant wishes to become an Additional Lender pursuant thereto. This Certificate is an
Assignment Certificate, as defined in the Credit Agreement, and is executed for purposes of
informing the Administrative Agent and the Company of the transactions contemplated hereby and
obtaining the consent of the Administrative Agent and the Company to the extent required under the
Credit Agreement.

     Accordingly, the undersigned hereby agree as follows:

     1. Definitions. Unless otherwise defined herein, terms used herein have the meanings
provided in the Credit Agreement.

     2. Allocation of Payments. Any interest, fees and other payments accrued to the
Effective Date with respect to the Assigning Lender’s interest under the Loan Documents shall be
for the account of the Assigning Lender. Any interest, fees and other payments accruing on and
after the Assignment Date with respect to the interests assigned hereunder shall be for the account
of the Applicant. Each of the Assigning Lender and the Applicant agrees that it will hold in trust
for the other party any interest, fees and other amounts which it may receive to which the other
party is entitled pursuant to the preceding sentence and pay to the other party any such amounts
which it may receive promptly upon receipt.

     3. Assignment Date: Conditions. The date on which the Applicant shall
become an Additional Lender (the “Assignment Date”) is
                    ,
20 ___ ; provided, however, that the
assignment and assumption described in this Certificate shall not be effective unless, on or before
the Assignment Date, (i) the Administrative Agent has received counterparts of this Certificate
duly executed and delivered by the Company (unless the Company’s consent to the assignment
hereunder is not required under Section 8.10 of the Credit Agreement), the Assigning Lender, the
Administrative Agent and the Applicant, (ii) the Administrative Agent has received the transfer fee
for the account of the Administrative Agent in the amount of $3,500, and (iii) all other terms and
conditions of this

 

 

Certificate and the Credit Agreement relating to the assignment hereunder have been
satisfied.

     4. Applicant’s Interest. Effective as of the Assignment Date, (i) the Applicant’s
Commitment Amount shall be the amount designated as the “Assigned Commitment Amount” opposite the
Applicant’s signature below (and the Applicant shall be deemed to have assumed the Assigning
Lender’s Commitment in the amount of such Assigned Commitment Amount), (ii) the principal amount of
Advances under Section 2.1 owing to the Applicant shall be the amount designated as the “Assigned
Committed Advances” opposite the Applicant’s signature below, and (iii) the Applicant’s Percentage
shall be the percentage designated as the “Assigned Percentage” opposite the Applicant’s signature
below.

     5. Retained Interest. Effective as of the Assignment Date, (i) the Assigning Lender’s
Commitment Amount shall be the amount designated as the “Retained Commitment Amount” opposite the
Assigning Lender’s signature below (and the Assigning Lender shall be relieved of all of its
obligations under the Credit Agreement to the extent of the reduction in its Commitment Amount in
accordance herewith), (ii) the principal amount of Advances under Section 2.1 owing to the
Assigning Lender shall be the amount designated as the “Retained Committed Advances” opposite the
Assigning Lender’s signature below, and (iii) the Assigning Lender’s Percentage shall be the
percentage designated as the “Retained Percentage” opposite the Assigning Lender’s signature below.

     6. New Notes. On the Assignment Date, the Company shall issue and deliver to the
Administrative Agent in exchange for the Assigning Lender’s Revolving Note (i) a Revolving Note
payable to the order of the Applicant in a face principal amount equal to the Applicant’s “Assigned
Commitment Amount” (or, if the Assignment Date is after the Commitment Termination Date, the
Applicant’s “Assigned Committed Advances”), in substantially the form of Exhibit B to the Credit
Agreement, and (ii) a Revolving Note payable to the order of the Assigning Lender in the amount of
the “Retained Commitment Amount” (or, if the Assignment Date is after the Commitment Termination
Date, the Assigning Lender’s “Retained Committed Advances”), in substantially the form of Exhibit B
to the Credit Agreement. The Administrative Agent shall deliver the foregoing Revolving Notes to
the Applicant and the Assigning Lender promptly after the Assignment Date, or (if later) the
receipt by the Administrative Agent thereof.

     7. Notice Address. The address shown below the Applicant’s signature hereto shall be
its notice address for purposes of Section 9.4 of the Credit Agreement, unless and until it shall
designate, in accordance with such Section 9.4, another address for such purposes.

     8. Assumption. Upon the Assignment Date, the Applicant shall become a party to the
Credit Agreement and a Lender thereunder and (i) shall be entitled to all rights, benefits and
privileges accorded to a Lender in the Credit Agreement, (ii) shall be subject to all obligations
of a Lender thereunder, and (iii) shall be deemed to have specifically ratified

 

 

and confirmed (and by executing this Certificate the Applicant hereby specifically ratifies and
confirms) all of the provisions of the Credit Agreement and the Loan Documents.

     9. Independent Credit Decision. The Applicant (a) acknowledges that it has received a
copy of the Credit Agreement and the Schedules and Exhibits thereto, together with copies of the
most recent financial statements referred to in Section 4.5 or 5.1 of the Credit Agreement, and
such other documents and information as it has deemed appropriate to make its own credit and legal
analysis and decision to enter into this Assignment Certificate; (b) acknowledges and agrees that
in becoming an Additional Lender and in making any Advance under the Credit Agreement, such actions
have been and will be made without recourse to, or representation or warranty by, the Assigning
Lender or the Administrative Agent; and (c) agrees that it will, independently and without reliance
upon the Assigning Lender, the Administrative Agent or any other Lender and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit and legal
decisions in taking or not taking action under the Credit Agreement. Notwithstanding the foregoing,
however, the Assigning Lender hereby warrants and represents that it is the legal and beneficial
owner of the interests assigned hereby, and that such interests are not subject to any adverse
claims.

     10. Withholding Tax. The Applicant (a) represents and warrants to the Administrative
Agent and the Borrowers that under applicable law and treaties no tax will be required to be
withheld by the Administrative Agent or the Borrowers with respect to any payments to be made to
the Applicant under the Credit Agreement or its Note, (b) agrees to furnish (if it is organized
under the laws of any jurisdiction other than the United States or any State thereof) to the
Administrative Agent and the Company prior to the time that the Administrative Agent or any
Borrower is required to make any payment of principal, interest or
fees hereunder, duplicate
executed originals of U.S. Internal Revenue Service Form W-8ECI or W-8BEN (or appropriate
replacement forms) and agrees to provide new Forms W-8ECI or W-8BEN (or appropriate replacement
forms) upon the expiration of any previously delivered form or comparable statements, in each case
certifying as to the Applicant’s entitlement to complete exemption from U.S. federal withholding
tax on payments under the Credit Agreement and its Note in accordance with applicable U.S. law and
regulations and amendments thereto, duly executed and completed by the Applicant, and (c) agrees to
comply with all applicable U.S. laws and regulations with regard to such withholding tax exemption.

     11. Further Assurances. The Company, the Assigning Lender and the Applicant shall, at
any time and from time to time upon the written request of the Administrative Agent, execute and
deliver such further documents and do such further acts and things as the Administrative Agent may
reasonably request in order to effect the purpose of this Certificate.

     12. Miscellaneous. This Certificate may be executed in any number of
counterparts by the parties hereto, each of which counterparts shall be deemed to be an
original and all of which shall together constitute one and the same certificate. Matters

 

 

relating to this Certificate shall be governed by, and construed in accordance with, the
internal laws of the State of Minnesota.

     IN WITNESS WHEREOF, the undersigned have executed this Certificate as of the Assignment
Date set forth above.

	 	 	 	 	 	 	 	 	 
	Retained Committed Advances:
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	  $                                        	 	 	 	[Assigning Lender]	 	 
	Retained Commitment Amount:
	 	 	 	 	 	 	 	 
	  $                                        
	 	 	 	 	 	 	 	 
	Retained Percentage:                     %

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	Assigned Committed Advances:
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	  $                                        	 	 	 	[Applicant]	 	 
	Assigned Commitment Amount:
	 	 	 	 	 	 	 	 
	  $                                        
	 	 	 	 	 	 	 	 
	Assigned Percentage:                     %

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 	 	Notice Address:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Telecopier:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Consent of Administrative Agent

The Administrative Agent hereby consents to the foregoing Assignment.

	 	 	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its	 	 	 	 
	 

	 	 	 	 	 	 	 	 

 

 

Consent of Company

The Company hereby consents to the foregoing Assignment.

	 	 	 	 	 	 	 	 	 
	 	 	SENSIENT TECHNOLOGIES CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

 

 

Exhibit G

BORROWING CERTIFICATE

                                        , 20__

Wells Fargo Bank, National Association,
     
for itself and as Administrative Agent under the Credit
     
Agreement described below

MAC ___

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479

          Re:
$300,000,000 Sensient Technologies Corporation Credit Facility 

Ladies and
Gentlemen:

     Reference is made to the Credit Agreement dated June 15, 2007 (together with all amendments,
modifications and restatements thereof, the “Credit Agreement”) among Sensient Technologies
Corporation (the “Company”), the Lenders (as defined therein), and Wells Fargo Bank, National
Association, as Administrative Agent. As used herein, terms defined in the Credit Agreement and not
otherwise defined herein have the meanings given them in the Credit Agreement.

                                             , [which is a Borrower under the Credit Agreement,]1 has requested [a
Revolving Borrowing] [a Letter of Credit], as more specifically described on Attachment 1.

     The undersigned hereby [certify/certifies] to you that the [Borrowing/Letter of Credit
(including the Borrowers’ obligation to reimburse the Lenders on account of any draw under such
Letter of Credit)] requested by the Borrower identified above (i) has been duly authorized by the
Governing Board of such Borrower pursuant to its resolution dated                                         , and (ii) does not and will not
require any other authorization, consent or approval by any governmental department, commission,
board, bureau, agency or instrumentality, domestic or foreign.

     The undersigned further [certify/certifies] to you that the [Borrowing/Letter of Credit
(including the Borrowers’ obligation to reimburse the Lenders on account of any draw under such
Letter of Credit)] requested by the Borrower identified above complies with all applicable
requirements of each board resolution described above, including but not limited to any applicable
limitation on the aggregate amount of debt that the Company or any Borrower may have outstanding at
any one time.

 

			
	1	 	Include if the Borrower is not the Company.

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

 

 

Attachment 1

Terms of Borrowing:

	 	1.	 	The Business Day of the proposed Borrowing is                                         .
	 
	 	2.	 	The aggregate amount of the proposed Borrowing is                                         2.
	 
	 	3.	 	The proposed Borrowing is to be comprised of                     2 of Advances to bear
interest at the Base Rate and                     2 of Advances to bear interest at the
Eurodollar Rate.
	 
	 	4.	 	The duration of the Interest Period for Advances that bear interest at the
Eurodollar Rate shall be
                    
months.

Terms of Letter of Credit:

	 	1.	 	The proposed date of issuance is                                         .
	 
	 	2.	 	The stated amount of the Letter of Credit is                                         2.
	 
	 	3.	 	The Letter of Credit is to be issued to                                         .
	 
	 	4.	 	The expiration date of the Letter of Credit is                     .

 

			
	2	 	State currency (e.g., “$”, “USD”, etc.) and amount.

 

 

Exhibit H

DESIGNATION LETTER

                                        , 20__

Wells Fargo Bank, National Association,

     for itself and as Administrative Agent under the Credit

     Agreement described below

MAC ___

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479

          Re:
$300,000,000 Sensient Technologies Corporation Credit Facility 

Ladies and
Gentlemen:

     Reference is made to the Credit Agreement dated June 15, 2007 (together with all amendments,
modifications and restatements thereof, the “Credit Agreement”) among Sensient Technologies
Corporation (the “Company”), the Lenders (as defined therein), and Wells Fargo Bank, National
Association, as Administrative Agent. As used herein, terms defined in the Credit Agreement and not
otherwise defined herein have the meanings given them in the Credit Agreement.

     As used
herein, “Applicable Subsidiary” means         
               
                
 , a              
               
            .

     The Company hereby designates the Applicable Subsidiary as a Designated Subsidiary
under the Credit Agreement.

     In consideration of the Lender Parties’ agreements to make Credit Extensions under the Credit
Agreement, the Applicable Subsidiary hereby assumes each of the obligations imposed upon a
“Designated Subsidiary” and a “Borrower” under the Credit Agreement, including but not limited to
the obligation to pay and perform each of the Obligations in accordance with the terms of the Loan
Documents, and assumes the obligation to perform and observe all of the covenants and agreements of
the Borrowers contained in the Loan Documents.

     [Notwithstanding the foregoing, the Applicable Subsidiary is a Foreign Subsidiary and
[applicable law governing the Applicable Subsidiary prohibits the Applicable Subsidiary’s
assumption of the obligations of some or all of the other Borrowers on account of Advances made to
the other Borrowers] [the Applicable Subsidiary’s assumption of the obligations of some or all of
the other Borrowers on account of Advances made to the other Borrowers would have a material
adverse tax consequence for the Company or any

 

 

Subsidiary. Accordingly, the foregoing assumption of obligations is subject to the
limitations set forth in Section 2.19(b) of the Credit Agreement.]1

     Nothing in this Agreement shall constitute or imply any release or diminution of the
liability of any existing Borrower with respect to the Obligations.

     The Company and the Applicable Subsidiary hereby confirm that each of the representations and
warranties set forth in Article IV is true and correct as of the date hereof, after giving effect
to this Designation Letter and the inclusion of the Applicable Subsidiary as a Designated
Subsidiary and Borrower.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Very truly yours,	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	SENSIENT TECHNOLOGIES CORPORATION	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	By

	 	 	 	 	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	Name:
	 	 	 	 	 	Name: 	 	 	 	 
	 

	 	
 

	 	 	 	 	 	 	 	 
	 

	Title:
	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 	 	 

 

			
	1	 	To be inserted only if the Applicable Subsidiary is a Foreign Subsidiary and one of the alternative statements is true.

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