Document:

EX-10.01

Exhibit 10.01

ACCOUNT PURCHASE AGREEMENT

This Agreement is dated as of April 21, 2009 between Wells Fargo Bank, National Association, acting
through its Wells Fargo Business Credit operating division, a national association (“WFBC”), and
Martin Marietta Materials, Inc., a North Carolina corporation (the “Customer”). The Customer and
WFBC agree as follows:

Article 1.

Purpose of Agreement

1.01 Purpose of Agreement. The Customer desires to sell, assign and transfer to WFBC, on a fully
serviced basis, an undivided ownership interest in all of the Customer’s right, title and interest
in certain of its Accounts, all Related Rights with respect thereto and all proceeds of the
foregoing and WFBC desires to purchase such undivided ownership interest in all of the Customer’s
right, title and interest in such Accounts, all Related Rights with respect thereto and all
proceeds of the foregoing on the terms and conditions set forth herein. The purchase of accounts
hereunder shall be full recourse as provided herein and shall be on a non-notification of
assignment basis. The purpose of this Agreement is commercial in nature and not for household,
family and/or personal use. Terms which are not defined herein shall have the meaning set forth in
the Uniform Commercial Code as adopted in the State of New York, to the extent defined therein.
The Customer acknowledges and agrees that WFBC has not made any representations or warranties
concerning the tax, accounting or legal characteristics of the transaction set forth herein and in
the Transaction Agreements and that the Customer has obtained and relied upon such tax, accounting
and legal advice from its own experts concerning such transaction as it deems appropriate.

Article 2.

Definitions

2.01 “Acceptable Account” means an Account, in an amount equal to the aggregate face amount of such
Account, net of any credits or allowances of any nature, which (a) conforms to the representations,
warranties and terms set forth herein and (b) is not an Unacceptable Account as defined below.

2.02 “Account” means any right of payment of the net amount for goods sold, or leased and delivered
or services rendered in the ordinary course of the Customer’s business which is not evidenced by an
instrument or chattel paper.

2.03 “Account Debtor” means the Customer’s customer or any other Person owing money to the Customer
with respect to an Account.

2.04 “Affiliate” means (a) any Person that directly, or indirectly through one or more
intermediaries, controls another Person (a “Controlling Person”) or (b) any Person which is
controlled by or is under common control with a Controlling Person. As used herein, the term
“control” means possession, directly or indirectly, of the power to vote 10% or more of any class
of voting securities of a Person or to direct or cause the direction of the management or policies
of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

 

2.05 “Agreement” means this Account Purchase Agreement.

2.06 “Assigned Interest” shall have the meaning set forth in Section 12.01(b)(vi).

2.07 “Assignee” shall have the meaning set forth in Section 12.01(b)(i).

2.08 “Assignment and Schedule of Accounts” means the Assignment and Schedule of Accounts, a form of
which is attached hereto as Exhibit A, as the same may be revised from time to time by WFBC in its
commercially reasonable sole discretion.

2.09 “Bank of America Lockbox” means the lockbox established under the Bank of America Lockbox
Agreement.

2.10 “Bank of America Lockbox Agreement” means the Deposit Account Control Agreement by and among
the Customer, WFBC and Bank of America, N.A., dated as of April 21, 2009.

2.11 “Bank of America Lockbox Account” means the Customer’s account number 3751585282, ABA number
111000012, maintained at Bank of America, N.A., together with all other deposit accounts which are
subject to the Bank of America Lockbox Agreement.

2.12 “Business Day” means a day on which the Federal Reserve Bank of New York is open for business.

2.13 “Change of Control” means the occurrence of any of the following events:

     (a) Any Person or “group” (within the meaning of Section 13 or 14 of the Securities Exchange
Act of 1934) shall have acquired (1) beneficial ownership (within the meaning of Rule 13d-3
promulgated by the Securities and Exchange Commission under said Act) of 35% or more of the
outstanding shares of common stock of the Customer or (2) 35% or more of the outstanding voting
power of all of the capital stock of the Customer entitled to vote generally in the election of
directors; or

     (b) During any two-year period, individuals who at the beginning of such period constituted
the board of directors of the Customer (together with any new directors whose election by the board
of directors or whose nomination for election by the shareholders of the Customer was approved by a
vote of at least two-thirds of the directors then in office who either were directors at the
beginning of such period or whose election or nomination for election was previously so approved)
cease for any reason to constitute a majority of the directors then in office.

2.14 “Chase Lockbox” means the lockbox established under the Chase Lockbox Agreement.

2.15 “Chase Lockbox Agreement” means the Blocked Account Control Agreement by and among the
Customer, WFBC and JPMorgan Chase Bank, N.A., dated as of April 21, 2009.

2

 

2.16 “Chase Lockbox Account” means the Customer’s account number 5261376, ABA number 021000021,
maintained at JPMorgan Chase Bank, N.A., together with all other deposit accounts which are subject
to the Chase Lockbox Agreement.

2.17 “Closing Date” means April 21, 2009.

2.18 “Collateral” shall mean all of the following property whether now owned or existing or
hereafter created or acquired or arising, or in which the Customer now has or hereafter acquires
any rights, and wheresoever located: (a) all of the Purchased Accounts and the Related Rights; (b)
all chattel paper (including electronic chattel paper) evidencing, arising out of or related to any
Purchased Accounts or any Related Rights; (c) all commercial tort claims arising out of or related
to any Purchased Accounts or any Related Rights; (d) all deposit accounts in which proceeds of any
Purchased Accounts or any Related Rights are deposited or contained, including the Bank of America
Lockbox Account, the Chase Lockbox Account and the Wachovia Lockbox Account; (e) in the case of all
Related Rights consisting of goods, all accessions, accessories and attachments now or hereafter
attached or affixed to or used in connection with any such goods; (f) all documents (including all
warehouse receipts, bills of lading, other documents of title and other documents now or hereafter
covering any goods) related to any Purchased Accounts or any Related Rights; (g) all general
intangibles (including (i) payment intangibles, (ii) intellectual property, (iii) guaranty and
indemnification claims, and (iv) all other choses in action, causes of action, actions, suits, and
other legal proceedings of any kind) arising out of or related to any Purchased Accounts or any
Related Rights; (h) all instruments, investment property, letters of credit and letter of credit
rights, and supporting obligations, in each case to the extent evidencing, arising out of or
related to any Purchased Accounts or any Related Rights; (i) all monies and other things of value
contained in any Lockbox Account and any other blocked account, lockbox account or collateral
account established with or for the benefit of WFBC, and all items in any Lockbox or any other
lockbox related to any Purchased Accounts or any Related Rights; (j) all tangible and electronic
books and records pertaining to any of the foregoing (including all mail and electronic mail); (k)
all amendments, modifications, products, replacements, and substitutions to any of the foregoing;
(l) all collateral subject to the Lien of any Related Document; and (m) all proceeds (including
cash, insurance and condemnation proceeds) and products of any of the foregoing.

2.19 “Collections” means all cash collections and other cash proceeds of the Purchased Accounts
including all cash proceeds of Related Rights and all recoveries and all collections deemed to be
proceeds of the Purchased Accounts and Related Rights.

2.20 “Collections Account” means WFBC’s account number 6355033300, ABA number 121000248, maintained
at Wells Fargo Bank, N.A. or such other account which is designated in writing by notice to
Customer as WFBC’s Collections Account for the purposes hereof.

2.21 “Commercial Dispute” means the occurrence of any dispute, claim or offset, which, if adversely
resolved, would preclude WFBC from realizing through payments from the applicable Account Debtor
the Outstanding Balance of the affected Purchased Account.

2.22 “Consolidated Debt” means at any date the Debt of the Customer and its Consolidated
Subsidiaries, determined on a consolidated basis as of such date.

3

 

2.23 “Confidential Information” shall have the meaning set forth in Section 12.17.

2.24 “Consolidated EBITDA” means, for any period, net income (or net loss) (before discontinued
operations) plus the sum of (a) consolidated interest expense, (b) income tax expense, (c)
depreciation expense, (d) amortization expense, (e) depletion expense, (f) stock based compensation
expense and (g) any non-cash losses or expenses from any unusual, extraordinary or otherwise
non-recurring items as reasonably determined by the Customer, and minus (x) consolidated interest
income and (y) the sum of the amounts for such period of any income tax benefits and any income or
gains from any unusual, extraordinary or otherwise non-recurring items as reasonably determined by
the Customer, in each case determined on a consolidated basis for the Customer and its Subsidiaries
in accordance with generally accepted accounting principles and in the case of items (a) through
(g) and items (x) and (y), to the extent such amounts were included in the calculation of net
income. For the purpose of calculating Consolidated EBITDA for any period, if during such period
the Customer or any Subsidiary shall have made an acquisition or a disposition, Consolidated EBITDA
for such period shall be calculated after giving pro forma effect thereto as if such acquisition or
disposition, as the case may be, occurred on the first day of such period.

2.25 “Consolidated Subsidiary” means at any date any Subsidiary or other entity the accounts of
which would be consolidated with the Customer in its consolidated financial statements if such
statements were prepared as of such date.

2.26 “Credit Agreement” means that certain Second Amended and Restated Credit Agreement dated as of
October 24, 2008, among the Customer, JPMorgan Chase Bank, N.A. as Administrative Agent and the
Lenders party thereto.

2.27 “Credit and Collection Policy” means the Customer’s credit, collection and administration
procedures relating to the Accounts (including the Purchased Accounts) and the Related Rights,
applied consistent with past practices of the Customer in effect on the date hereof, as such
procedures may be amended in compliance with Section 7.03.

2.28 “Debt” of any Person means at any date, without duplication, (a) all obligations of such
Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes
or other similar instruments, (c) all obligations of such Person to pay the deferred purchase price
of property, except trade accounts payable arising in the ordinary course of business, (d) all
obligations of such Person as lessee which are capitalized in accordance with generally accepted
accounting principles, (e) all non-contingent obligations of such Person to reimburse any bank or
other Person in respect of amounts paid under a letter of credit, banker’s acceptance, bank
guarantee or similar instrument which remain unpaid for two Business Days, (f) all Debt secured by
a Lien on any asset of such Person, whether or not such Debt is otherwise an obligation of such
Person provided that the amount of such Debt which is not otherwise an obligation of such Person
shall be deemed to be the fair market value of such asset and (g) all Debt of others guaranteed by
such Person.

2.29 “Disbursement Account” shall have the meaning set forth in Section 3.02(c).

2.30 “Dispute Amount” shall have the meaning set forth in Section 7.02.

4

 

2.31 “Eligible Institution” means any commercial bank having total assets in excess of
$3,000,000,000 (or the equivalent amount in the local currency of such bank) as determined by WFBC
based on the most recent publicly available financial statements of such bank.

2.32 “Event of Termination” shall have the meaning set forth in Article 10.

2.33 “Facility Fee” shall have the meaning set forth in Section 3.04(d).

2.34 “Facility Maximum” means the lesser of (a) $175,000,000 or (b) the sum of the WFBC Commitment
plus the Other Commitment.

2.35 “Final Termination Date” shall have the meaning set forth in Section 12.26.

2.36 “Former Plan” means any employee benefit plan in respect of which the Customer or a Subsidiary
has engaged in a transaction described in Section 4069 or Section 4212(c) of ERISA.

2.37 “Indemnified Liabilities” shall have the meaning set forth in Section 12.07(a).

2.38 “Indemnitees” shall have the meaning set forth in Section 12.07(a).

2.39 “Insolvency” means, with respect to any Multiemployer Plan, the condition that such Plan is
insolvent within the meaning of Section 4245 of ERISA.

2.40 “Insolvency Proceeding” means any proceeding under Title 11 of the United States Code or under
the Bankruptcy and Insolvency Act (Canada) or the Companies Creditors Arrangement Act (Canada), any
proceeding instituted by or against a Person seeking liquidation, winding up, reorganization,
arrangement, adjustment, protection, relief or composition of it or its debts under any law
relating to bankruptcy, insolvency, reorganization or relief of debtors, or any proceeding seeking
the entry of an order for relief by the appointment of a receiver, trustee, custodian or similar
official for its or a substantial part of its property.

2.41 “Leverage Ratio” means, at any date, the ratio of (a) Consolidated Debt at such date to (b)
Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or
prior to such date, taken as one accounting period.

2.42 “LIBOR” means, as of a selected date, the rate per annum (rounded upward, if necessary, to the
nearest whole 1/16 of 1%) and determined pursuant to the following formula:

	 	 	 	 	 
	 	LIBOR =

	 	Base LIBOR	 
	 	 

	 	 	 
	 	 

	 	100% – LIBOR Reserve Percentage	 

     (a) “Base LIBOR” means the rate per annum for United States dollar deposits generally quoted
by WFBC to its commercial customers as the London Inter-Bank Market Offered Rate, with the
understanding that such rate is quoted by WFBC for the purpose of calculating effective rates of
interest for loans making reference to the One Month LIBOR, as the London Inter-Bank Market Offered
Rate in effect from time to time.

5

 

     (b) “LIBOR Reserve Percentage” means the reserve percentage prescribed by the Board of
Governors of the Federal Reserve System (or any successor) for “Eurocurrency Liabilities” (as
defined in Regulation D of the Federal Reserve Board, as amended), adjusted by WFBC for expected
changes in such reserve percentage during the term of this Agreement.

     (c) “One Month LIBOR” means, for any day, the rate of interest equal to LIBOR then in effect
for delivery for a one (1) month period.

The Customer understands and agrees that WFBC may base its quotation of the London Inter-Bank
Market Offered Rate upon such offers or other market indicators of the London Inter-Bank Market as
WFBC in its discretion deems appropriate including the rate offered for U.S. dollar deposits on the
London Inter-Bank Market. WFBC’s determination of LIBOR shall be conclusive, absent manifest
error.

2.43 “Lien” means any security interest, mortgage, assignment (whether absolute or by way of
security), tax lien or other lien (statutory or otherwise) or any other encumbrance of any kind or
nature whatsoever.

2.44 “Lockbox” means the Bank of America Lockbox, the Chase Lockbox or the Wachovia Lockbox and
“Lockboxes” means the Bank of America Lockbox, the Chase Lockbox and the Wachovia Lockbox.

2.45 “Lockbox Account” means the Bank of America Lockbox Account, the Chase Lockbox Account or the
Wachovia Lockbox Account, and “Lockbox Accounts” means the Bank of America Lockbox Account, the
Chase Lockbox Account and the Wachovia Lockbox Account.

2.46 “Lockbox Agreement” means the Bank of America Lockbox Agreement, the Chase Lockbox Agreement
or the Wachovia Lockbox Agreement and “Lockbox Agreements” means the Bank of America Lockbox
Agreement, the Chase Lockbox Agreement and the Wachovia Lockbox Agreement.

2.47 “Material Adverse Effect” means any effect upon the business, operations or financial
condition of the Customer which, in the reasonable determination of WFBC, materially adversely
affects (a) the interest of WFBC in the Purchased Accounts, the Related Rights or the Collateral,
(b) the collectibility and enforceability of the Purchased Accounts, the Related Rights or the
Collateral or WFBC’s rights thereunder or (c) the ability of the Customer to perform its
obligations under this Agreement or any of the Transaction Agreements.

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

2.49 “Net Change Amount” means the difference, if any, of (a) 90% of the aggregate Outstanding
Balance of Purchased Accounts which are Acceptable Accounts on the last day of the applicable
Settlement Period, minus (b) 90% of the aggregate Outstanding Balance of Purchased Accounts which
are Acceptable Accounts on the last day of the Settlement Period immediately preceding the
applicable Settlement Period. The percentage used in the preceding sentence may be adjusted by
WFBC at anytime at WFBC’s commercially reasonable sole discretion. The Net Change Amount may be
either positive or negative.

6

 

2.50 “Other Commitment” means $0.

2.51 “Other Taxes” shall have the meaning set forth in Section 12.20.

2.52 “Outstanding Balance” means, for any Account, the total amount due and payable by the Account
Debtor for goods and/or services rendered by the Customer in respect of such Account, after
reduction for any discounts, credits, rebates, allowances, reserves, incentives, penalties or other
reductions or similar adjustments, as determined by WFBC in its commercially reasonable sole
discretion.

2.53 “Participant” shall have the meaning set forth in Section 12.02.

2.54 “PBGC” means the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of
Title IV of ERISA (or any successor thereto).

2.55 “Person” means any individual, corporation, partnership, joint venture, limited liability
company, association, joint stock company, trust, unincorporated organization or government or any
agency or political subdivision of a governmental entity.

2.56 “Plan” means, at a particular time, any employee benefit plan which is covered by ERISA and in
respect of which the Customer or a Subsidiary is an “employer” as defined in Section 3(5) of ERISA.

2.57 “Purchase Limit” means the limit WFBC sets from time to time in its commercially reasonable
sole discretion establishing the maximum gross face amount of Purchased Accounts which are approved
as Acceptable Accounts at any given time owed by a particular Account Debtor.

2.58 “Purchased Account” and “Purchased Accounts” shall have the meanings set forth in Section
3.01(a).

2.59 “Purchased Amount” means, at any time, an amount equal to (a) the aggregate purchase price
paid by WFBC for the Purchased Accounts and the Related Rights, minus (b) the aggregate amount paid
to WFBC hereunder on account of Purchased Accounts and Related Rights, net of all fees, interest,
expenses and costs hereunder, plus (c) all amounts which at any time must be returned for any
reason to the Customer by WFBC.

2.60 “Records” means all tangible and electronic books, records, reports and other documents and
information (including hard copies of all data maintained in databases of the Customer on tapes,
disks and punch cards) maintained in respect of the Purchased Accounts, the Related Rights, the
Collateral and the Account Debtors.

2.61 “Register” shall have the meaning set forth in Section 12.01(b)(vi).

2.62 “Related Document” means any agreement, document, exhibit, notice or other written
communication to which the Customer is a party or which has at any time been delivered by or on
behalf of the Customer to WFBC in connection with this Agreement.

7

 

2.63 “Related Rights” shall have the meaning set forth in Section 3.01.

2.64 “Related Security” means, with respect to the Purchased Accounts, (a) all Liens, and all
property subject thereto, from time to time purporting to secure payment of any Purchased Account,
including any security deposit, whether pursuant to any related agreement or otherwise; (b) all of
Customer’s right, title and interest in, to and under all guarantees, indemnities, letters of
credit, insurance policies (and proceeds and premium refunds thereof) and other agreements or
arrangements of whatsoever character from time to time supporting or securing payment of any
Purchased Account, whether pursuant to the related agreement or otherwise; (c) all related Records;
and (d) all proceeds of or relating to the foregoing and any Purchased Account.

2.65 “Reorganization” means with respect to any Multiemployer Plan, the condition that such plan is
in reorganization within the meaning of Section 4241 of ERISA.

2.66 “Replacement Servicer Fee” shall have the meaning set forth in Section 4.04.

2.67 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than
those events as to which the thirty day notice period is waived under PBGC Reg. § 2615 or any
successor regulation thereto.

2.68 “Repurchase Price” for any Purchased Account means the sum of (a) the lesser of (i) the
Outstanding Balance of such Account and (ii) the Purchase Price of such Account, plus (b) the WFBC
Discount Fee, plus (c) all fees, costs or expenses associated with the repurchase or collection of
such Purchased Account.

2.69 “Servicer” shall have the meaning set forth in Section 4.01(a).

2.70 “Settlement Date” means, in respect of any Settlement Period, the fourth Business Day
following the last day of such Settlement Period, and when referring to a particular Settlement
Date herein, such Settlement Period may be referred to as the applicable Settlement Period.

2.71 “Settlement Period” means (a) from the date hereof to and including May 10, 2009, the period
beginning on the date hereof to and including May 10, 2009, (b) thereafter, the fourteen (14) day
period beginning on May 11, 2009 and each fourteen (14) day period thereafter beginning on the day
following the last day of the immediately preceding Settlement Period; provided that (c) following
an Event of Termination, WFBC may select the length of any Settlement Period which commences on or
after the date on which such Event of Termination occurs; and (d) any Settlement Period which
commences before an Event of Termination and would otherwise terminate after the date of such Event
of Termination occurs shall end on the date such Event of Termination occurs.

2.72 “Single Employer Plan” means any Plan which is covered by Title IV of ERISA, but which is not
a Multiemployer Plan.

2.73 “Specified Acquisition” means any single acquisition by the Customer or a Subsidiary of the
Customer of any Person (the “Target”) that (a) is in the same line or lines of business as the
Customer or in the judgment of the Customer is related to such line or lines of business and (b)
such Target’s board of directors have not objected to such acquisition.

8

 

2.74 “Specified Acquisition Notice” means a notice delivered by the Customer notifying the
Administrative Agent (as defined in the Credit Agreement) and WFBC of the Specified Acquisition and
stating that the conditions in clauses (a) and (b) of Section 7.12 have been satisfied.

2.75 “Subsidiary” means, as to any Person, any corporation or other entity of which securities or
other ownership interests having ordinary voting power to elect a majority of the board of
directors or other persons performing similar functions are at the time directly or indirectly
owned by such Person; unless otherwise specified, “Subsidiary” means a Subsidiary of the Customer.

2.76 “Taxes” shall have the meaning set forth in Section 12.20.

2.77 “Termination Date” means the earliest of (a) April 20, 2012, (b) the date the Customer
terminates this Agreement pursuant to Section 3.06, (c) the date on which an Event of Termination
described in Section 10.01(f) occurs, or (d) during the continuation of an Event of Termination,
the date on which WFBC exercises its right to cease purchasing Accounts.

2.78 “Transaction Agreements” means this Agreement, the Lockbox Agreements and any other agreement,
instrument or document that WFBC and the Customer agree in writing is a Transaction Agreement.

2.79 “Unacceptable Account” means any Account which is not acceptable in WFBC’s commercially
reasonable sole discretion including the following:

     (a) Accounts unpaid more than 90 days after the invoice date;

     (b) Accounts owed by any unit of any foreign government or the United States federal
government (provided, however, that Unacceptable Accounts shall not include that portion of
Accounts owed by such units of government for which the Customer has provided evidence satisfactory
to WFBC that (i) WFBC has a first priority perfected security interest in such Accounts and (ii)
such Accounts may be enforced by WFBC directly against such unit of government under all applicable
laws);

     (c) Accounts not payable in United States dollars unless approved by WFBC in writing;

     (d) Any Account which is not an “account” or “payment intangible” within the meaning of
Article 9 of the Uniform Commercial Code of all applicable jurisdictions;

     (e) Any Account which (i) does not arise under a contract or invoice which is in full force
and effect, (ii) does not constitute the legal, valid and binding obligation of the related Account
Debtor enforceable against such Account Debtor in accordance with its terms, (iii) is subject to a
material counterclaim, a defense or a Lien (other than WFBC’s Lien), or (iv) is an executory
contract or unexpired lease within the meaning of Section 365 of the Bankruptcy Code;

9

 

     (f) Any Account which arises under a contract or invoice which (i) does not contain an
obligation to pay a specified sum of money or is subject to contingencies, (ii) requires the
Account Debtor under such contract or invoice to consent to the transfer, sale or assignment of the
rights to payment under such contract or invoice, (iii) limits or restricts the sale, transfer or
assignment (whether absolutely or by way of security) of such contract or invoice, or (iv) contains
a confidentiality provision that purports to restrict WFBC’s exercise of rights under this
Agreement, including the right to review such contract or invoice;

     (g) Any Account which, in whole or in part, contravenes any law, rule or regulation applicable
thereto (including those relating to usury, truth in lending, fair credit billing, fair credit
reporting, equal credit opportunity, fair debt collection practices and privacy), which
contravention would reasonably be expected to have a Material Adverse Effect;

     (h) Unless WFBC agrees to the contrary in writing, Accounts owed by an Account Debtor which is
located outside the United States or Canada;

     (i) Unless WFBC agrees to the contrary in writing, Accounts owed by an Account Debtor that is
insolvent, the subject of an Insolvency Proceeding or has ceased doing business;

     (j) Accounts owed (i) by an owner or shareholder of the Customer owning, directly or
indirectly, more than 5% of the Customer’s outstanding equity interests, or (ii) by a Subsidiary,
Affiliate, officer or employee of the Customer;

     (k) Accounts not beneficially or legally owned by the Customer immediately prior to purchase
by WFBC;

     (l) Accounts which represent indebtedness of an Account Debtor that constitutes an illegal,
invalid or unenforceable obligation of such Account Debtor to pay the amount thereof on the
maturity date stated therein;

     (m) Accounts which, upon purchase by WFBC, are not subject to a duly perfected Lien in WFBC’s
favor or which are subject to any Lien in favor of any Person other than WFBC, including any
payment or performance bond;

     (n) Accounts that have been restructured, extended, amended or modified;

     (o) That portion of Accounts that constitutes allowances, finance charges, service charges or
excise taxes;

     (p) Accounts that have been invoiced, paid or partially paid in advance of the full delivery
and acceptance of goods or the performance and acceptance of services or in advance of the
submission of such Accounts to WFBC;

     (q) Any Account which (i) does not satisfy in all material respects all applicable
requirements of the Credit and Collection Policy or (ii) was not generated in the ordinary course
of the Customer’s business;

10

 

     (r) Any Account as to which not all of the related invoices have been made available to WFBC
in a form reasonably acceptable to WFBC, and which are not included in an Assignment and Schedule
of Accounts acceptable to WFBC in its commercially reasonable sole discretion prior to the proposed
purchase of such Accounts;

     (s) Any Account which is subject to any asserted reduction (including any reduction on account
of any offsetting account payable of the related Account Debtor or the Customer to an Account
Debtor), cancellation, rebate or refund or any dispute, offset, counterclaim, Lien or defense
whatsoever (including any unresolved Commercial Dispute); provided that an Account that is subject
only in part to any of the foregoing but otherwise qualifies as an Acceptable Account (as
determined by WFBC in its commercially reasonable sole discretion) shall be an Acceptable Account
to the extent not subject to reduction, cancellation, refund, dispute, offset, counterclaim, Lien
or other defense;

     (t) Accounts which would cause the Purchase Limit for such Account Debtor to be exceeded;

     (u) Accounts which would cause the Purchased Amount to exceed the Facility Maximum;

     (v) Accounts owed by such Account Debtor, regardless of whether otherwise acceptable, if
twenty percent (20%) or more of the total amount of Accounts due from such Account Debtor is
unacceptable under clause (a) above; and

     (w) Accounts, or portions thereof, that fail to conform to the representations and warranties
contained herein.

2.80 “Unused Fee” shall have the meaning set forth in Section 3.04(c).

2.81 “Wachovia Lockbox” means the lockbox established under the Wachovia Lockbox Agreement.

2.82 “Wachovia Lockbox Agreement” means the Deposit Account Control Agreement by and among the
Customer, WFBC and Wachovia Bank, National Association, dated as of April 21, 2009.

2.83 “Wachovia Lockbox Account” means the Customer’s account number 2079900132667, ABA number
053101561, maintained at Wachovia Bank, National Association, together with all other deposit
accounts which are subject to the Wachovia Lockbox Agreement.

2.84 “Wells Receivers” shall have the meaning set forth in Section 12.17.

2.85 “WFBC Commitment” means $100,000,000.

2.86 “WFBC Discount” means, for any Settlement Period, the product of (a) the sum of (i) LIBOR in
effect as of the first day of such Settlement Period plus (ii) 275 basis points, multiplied by (b)
the quotient of (i) the number of days in such Settlement Period divided by (ii) 360.

11

 

2.87 “WFBC Discount Fee” shall have the meaning set forth in Section 3.04(e).

Article 3.

Purchase and Assignment of Accounts

3.01 Purchase and Assignment of Accounts. Pursuant to the terms herein and in consideration for
amounts paid to the Customer on the date hereof as well as amounts paid to the Customer during the
term hereof, the Customer hereby agrees to sell, transfer and assign to WFBC, its successors and
assigns, with recourse as provided herein, as absolute owner, on a fully serviced basis, and WFBC
hereby agrees to purchase from the Customer, during the period from the Closing Date to but
excluding the Termination Date, as of the date of each delivery of each Assignment and Schedule of
Accounts acceptable to WFBC in its commercially reasonable sole discretion, all without the need of
any other formal agreement, document or instrument of assignment, other than the delivery of each
such Assignment and Schedule of Accounts, all of the Customer’s right, title and interest in and to
the following:

     (a) Each Acceptable Account generated by the Customer to, but excluding, the Termination Date,
which is offered for sale by the Customer pursuant to an Assignment and Schedule of Accounts
delivered to WFBC by the Customer and accepted by WFBC in its commercially reasonable sole
discretion (collectively, the “Purchased Accounts” and each, a “Purchased Account”);

     (b) All rights of action (including all rights of stoppage in transit, replevin, repossession,
reclamation, setoff, detinue, repurchase, lienholder and all other rights of action of a consignor,
consignee, unpaid vendor, mechanic, artisan, or other lienor) accrued or to accrue on each
Purchased Account, including full power to collect, sue for, compromise, assign, in whole or in
part, or in any other manner enforce collection thereof in the Customer’s name or otherwise;

     (c) All right, title and interest of the Customer in and to the Records, the Related Security,
all agreements, documents or instruments relating to the Purchased Accounts, the Collections and
all deposits and other security for the obligation of any Person under or relating to the Purchased
Accounts, in each case whether presently existing or hereafter arising, now owned or hereafter
acquired;

     (d) All inventory and goods relating to, or which by sale have resulted in, Purchased
Accounts, including returned inventory and goods; and

     (e) All proceeds of the foregoing in any form (collectively, with the assets described in
Section 3.01(b), Section 3.01(c), and Section 3.01(d), the “Related Rights”).

The foregoing sales, transfers and assignments do not constitute, and are not intended to result
in, an assumption by WFBC of any liability or obligation of the Customer or any other Person in
connection with the Purchased Accounts, the Related Rights or under any agreement or instrument
relating thereto.

12

 

3.02 Purchased Amount.

     (a) On the terms and subject to the conditions set forth in this Agreement, WFBC agrees to pay
to the Customer for the purchase to be made by WFBC on April 28, 2009, an amount equal to the
lesser of (a) the Facility Maximum and (b) 90% of the aggregate Outstanding Balance of Acceptable
Accounts on April 15, 2009.

     (b) At least one Business Day prior to each Settlement Date, WFBC will determine, in its
reasonable discretion, and will provide such determination to the Customer on such day, (a) the
aggregate Outstanding Balance of Purchased Accounts which are Acceptable Accounts on the last day
of the Settlement Period immediately preceding the applicable Settlement Period, (b) the aggregate
Outstanding Balance of Purchased Accounts which are Acceptable Accounts on the last day of the
applicable Settlement Period, (c) the Net Change Amount, and (d) the WFBC Discount Fee due as of
such Settlement Date.

     (c) On each Settlement Date, as long as no Event of Termination exists and is continuing and
upon fulfillment of all conditions precedent set forth in Section 5.02, WFBC will pay to the
Customer an amount equal to the Net Change Amount, if the Net Change Amount is positive. Any such
payment shall be made, at the expense of the Customer, by wire transfer of immediately available
funds to the account of the Customer specified on the signature pages hereto, unless a different
account is specified by the Customer in a written notice to WFBC (the “Disbursement Account”).

     (d) On each Settlement Date, the Customer will pay to WFBC, or deposit Collections into the
Collections Account, an amount equal to the sum of (i) the absolute value of the Net Change Amount,
if the Net Change Amount is negative, plus (ii) the WFBC Discount Fee due as of such Settlement
Date, plus (iii) the Unused Fee, if then due and payable, plus (iv) the Facility Fee, if then due
and payable, plus (v) any other amount then due and payable by the Customer pursuant to this
Agreement or any Transaction Agreement.

     (e) On each Settlement Date during the continuation of an Event of Termination, the Customer,
as servicer, or any replacement Servicer, as applicable, will deposit from Collections into the
Collections Account, in respect of the immediately preceding Settlement Period, an aggregate amount
equal to the sum of (i) all such Collections in reduction of the Purchased Amount until the
Purchased Amount is reduced to zero plus (ii) any other amount due from the Customer to WFBC
hereunder.

3.03 Repurchase of Accounts. The Customer shall (a) repurchase any and all Purchased Accounts and
the Related Rights with respect thereto, whether disputed or undisputed, as may be requested by
WFBC, from time to time in its commercially reasonable sole discretion, and (b) pay on demand the
Repurchase Price for such Purchased Accounts and the Related Rights with respect thereto.

3.04 Fees.

     (a) Structuring Fee. The Customer shall pay WFBC a one time structuring fee of $250,000,
which shall be fully earned and payable upon the execution of this Agreement. WFBC acknowledges
that $75,000 of such initial structuring fee has been paid to WFBC.

13

 

     (b) Upfront Fee. The Customer shall pay WFBC an initial upfront fee of $350,000, which shall
be fully earned and payable upon the execution of this Agreement. Each time the Facility Maximum
increases after the date hereof, the Customer shall pay WFBC an additional upfront fee equal to
0.35% of such increase, which shall be fully earned and payable on the date of such increase.

     (c) Unused Fee. From the Closing Date to and including the Final Termination Date, the
Customer shall pay WFBC an unused fee (the “Unused Fee”) in the amount of (i) one quarter of one
percent (0.25%) per annum times (ii) (A) the Facility Maximum less (B) the average daily Purchased
Amount during the preceding month. The Unused Fee shall be calculated monthly in arrears and
payable (y) on the first Settlement Date immediately following the date an invoice is presented by
WFBC to the Customer, which invoice shall be presented at least two Business Days prior to the
Settlement Date on which it is payable, and (z) on the Final Termination Date.

     (d) Facility Fee. The Customer shall pay WFBC a fully earned facility fee (the “Facility
Fee”) payable on the date of the first purchase of Accounts and on each anniversary of the Closing
Date in an amount equal to one quarter of one percent (0.25%) of the Facility Maximum.

     (e) WFBC Discount Fee. The Customer shall pay WFBC a fully earned WFBC Discount fee (the
“WFBC Discount Fee”) which shall be due and payable in arrears on each Settlement Date and on the
Final Termination Date, shall accrue daily and shall be equal to the product of the WFBC Discount
multiplied by the Purchased Amount as of the last day of the applicable Settlement Period.

     (f) Audit Fees. The Customer shall pay WFBC, on demand, audit fees in connection with any
audits or inspections conducted by WFBC of the Purchased Accounts, the Related Rights, the
Collateral or the Customer’s operations or business, at the rates established from time to time by
WFBC as its audit fees, together with all actual out of pocket costs and expenses incurred in
conducting any such audit or inspection; provided that the Customer shall not, with the exception
of fees, costs, and expenses incurred upon the occurrence and during the continuation of an Event
of Termination, be required to reimburse WFBC for more than two such audits or inspections in any
calendar year.

     (g) Termination Fee. If the Termination Date occurs on or before April 20, 2012 pursuant to
Section 3.06, the Customer shall pay WFBC on the Termination Date a fully earned termination fee
equal to: (x) three percent (3%) of the Facility Maximum, if the Termination Date occurs before
the first anniversary of the date hereof; (y) two percent (2%) of the Facility Maximum, if the
Termination Date occurs on or after the first anniversary of the date hereof but before the second
anniversary of the date hereof; and (z) one percent (1%) of the Facility Maximum, if the
Termination Date occurs on or after the second anniversary of the date hereof but before the third
anniversary of the date hereof; provided that no such termination fee shall be payable if the
Customer terminates this Agreement within 30 days of the occurrence of any of the following:

          (i) WFBC’s reduction of the percentage in Section 2.49 to less than 50%;

14

 

          (ii) WFBC’s calculation of the Outstanding Balance on the last day of any Settlement Period is
less than 50% of the Customer’s calculation of the Outstanding Balance on such date, based on both
parties’ good faith reasonable calculations;

          (iii) The aggregate amount of the Purchase Limits on the last day of any two consecutive
Settlement Periods is less than 50% of the aggregate amount of the Purchase Limits on the last day
of the Settlement Period preceding such consecutive Settlement Periods solely as a result of a
change in one or more Purchase Limits unrelated to a change in any applicable Account Debtor’s
creditworthiness;

          (iv) The aggregate Outstanding Balance of Acceptable Accounts on the last day of any two
consecutive Settlement Periods is less than 50% of the aggregate Outstanding Balance of Acceptable
Accounts on the last day of the Settlement Period preceding such consecutive Settlement Periods
solely as a result of the exercise by WFBC of its commercial reasonable sole discretion under
Section 2.79 (as opposed to application of the parameters set forth in the subsections of Section
2.79);

          (v) During any Settlement Period when no Event of Termination exists or has occurred and is
continuing, WFBC exercises its rights under Section 3.03 with respect to more than 50% of the
aggregate Outstanding Balance of the Purchased Accounts, measured as an average during such
Settlement Period; or

          (vi) As of any Settlement Date, as a result of any combination of one or more of the
circumstances referenced in clauses (i) through (v) above (after giving effect to any repurchase(s)
contemplated by clause (v) above), the Purchased Amount at any time is less than 50% of the
Outstanding Balance of Acceptable Accounts, based on WFBC’s reasonable calculations (without giving
effect to the exercise by WFBC of its commercially reasonable sole discretion under Section 2.79
(as opposed to application of the parameters set forth in the subsections of Section 2.79)).

3.05 Mandatory Payments. Without notice or demand, unless WFBC shall otherwise consent in a
written agreement that sets forth the terms and conditions which WFBC in its discretion may deem
appropriate, if the Purchased Amount as measured on the last day of a Settlement Period is greater
than the Facility Maximum, the Customer shall pay to WFBC, on or before the Settlement Date
immediately following such Settlement Period, the amount necessary to eliminate such excess. Any
such payment received by WFBC under this Agreement shall be applied to the amounts owing to WFBC
from the Customer, in such order and in such amounts as WFBC in its commercially reasonable sole
discretion may determine from time to time.

3.06 Termination of this Agreement by Customer. The Customer may terminate this Agreement at any
time if it (a) gives WFBC at least 30 days advance written notice prior to the proposed Termination
Date and (b) subject to Section 3.04(g), pays WFBC applicable termination fees in accordance with
the terms of this Agreement; provided that, if, pursuant to Section 3.03, WFBC requests that the
Customer repurchase all of the Purchased Accounts and the Related Rights with respect thereto and
the Customer terminates this Agreement within 30 days after the date WFBC makes such request, such
30 day notice period shall be waived and the payment of such termination fees shall be waived. If
the Customer terminates this Agreement,

15

 

on such Termination Date (x) all amounts due hereunder shall be immediately due and payable and (y)
the Customer shall repurchase all outstanding Purchased Accounts and the Related Rights with
respect thereto and immediately pay the Repurchase Price for such Purchased Accounts and the
Related Rights with respect thereto.

3.07 Sole Property. Once WFBC has purchased an Account, any and all payments from whatever source
as to such Account are the sole property of WFBC; provided that (a) the Customer shall have the
right to use any and all such payments in accordance with the terms of this Agreement and for
working capital and other corporate purposes until the occurrence and during the continuation of an
Event of Termination, and (b) as long as no Event of Termination has occurred and is continuing,
WFBC shall remit to the Customer any amounts received by it in excess of the Purchased Amount and
all other amounts then due and owing to WFBC hereunder.

3.08 Miscellaneous Payments. Should WFBC receive a duplicate payment on a Purchased Account or
other payment which is not identified, WFBC shall carry these sums as open items in its accounting
and (a) shall remit any duplicate payment to the Customer if the Customer is the Servicer or (b)
shall remit any duplicate payment to the Account Debtor or apply such unidentified payment pursuant
to the terms hereof upon proper identification and documentation, if the Customer is no longer the
Servicer.

3.09 Repayment of Account Debtor. In the event WFBC is required to repay any Account Debtor for a
payment received by WFBC on an Account or Related Right, the amount of the repayment by WFBC shall
be an obligation of the Customer to WFBC whether or not this Agreement has been terminated. In the
event the Customer receives a payment from WFBC to which the Customer has no rights, repayment of
the funds to WFBC is an obligation of the Customer to WFBC whether or not this Agreement has been
terminated. In either event, if the obligation is not paid upon five (5) Business Days notice of
the obligation to pay from WFBC to the Customer, WFBC may file a financing statement in connection
with the security interest granted herein (if necessary) or otherwise perfect its interest in the
Collateral and exercise any and all rights it has under this Agreement, any Related Document or
otherwise to collect the amounts due.

3.10 Hold Harmless. The Customer shall hold WFBC harmless against any Account Debtor ill will
arising from WFBC’s collecting or attempting to collect on any Purchased Account and the Related
Rights with respect thereto, provided that WFBC acts in good faith and in a commercially reasonable
manner.

3.11 Book Entry. The Customer shall, immediately upon sale of each Account to WFBC, make proper
entries on its books and records disclosing the sale of such Accounts, and the Related Rights
related thereto, to WFBC on said books and records, in accordance with generally accepted
accounting principles, and other documents as so directed by WFBC.

3.12 Information. In the event WFBC provides financial information to the Customer regarding a
third party, whether by setting a Purchase Limit, at the request of the Customer or otherwise, the
Customer understands that WFBC is not making any representations or warranties or expressing an
opinion as to the creditworthiness of any such third party.

16

 

3.13 Payment Terms.

     (a) All accrued and unpaid fees, expenses, default interest, costs and any other amounts due
from the Customer shall be due and payable (i) on the date set forth herein or, if no date is set
forth herein, on each applicable Settlement Date, and (ii) on the Final Termination Date. Whenever
any payment to be made hereunder shall be stated to be due on a day which is not a Business Day,
such payment may be made on the next succeeding Business Day, and such extension of time shall in
such case be included in the computation of the fees, expenses, interest, costs and any other
amounts due hereunder, as the case may be.

     (b) All amounts to be paid by or deposited hereunder will be paid or deposited not later than
1:00 p.m. (New York City time) on the day when due in same day funds. All computations of interest
and fees shall be calculated for the actual days elapsed based on a 360 day year.

     (c) All Collections in respect of Purchased Accounts and other amounts due to WFBC hereunder
shall be remitted to WFBC in United States dollars.

     (d) The Customer shall pay, as a full recourse obligation, all fees, interest, costs and
expenses, including all amounts payable under Section 12.07.

     (e) The Customer or the Servicer, as the case may be, will pay on demand to WFBC interest
(before and after default and before and after judgment, with interest on overdue interest at the
same rate) on all amounts not paid to or deposited when due hereunder at a rate equal to LIBOR plus
five and three quarters of one percent (5.75%) per annum calculated daily.

     (f) The Customer will make all payments required to be made by it hereunder without deduction
or setoff regardless of any defense or counterclaim.

     (g) The Customer acknowledges that (i) WFBC may maintain records of the Purchased Amount, and
all amounts paid by the Customer to WFBC hereunder, including all fees, interest, costs and
expenses; (ii) such records shall, absent manifest error, be conclusive evidence thereof and (iii)
the failure of WFBC to maintain any such records shall not limit or otherwise affect the
obligations of the Customer or the rights and remedies of WFBC hereunder or under any Transaction
Agreement.

     (h) The Customer acknowledges that (i) WFBC may maintain records of the Purchased Accounts and
all Collections, (ii) such records shall be presumed correct as between the Customer and WFBC,
unless (A) the Customer notifies WFBC in a detailed record of its intention to dispute such records
within 30 days of receipt thereof and (B) the Customer proves such records to be incorrect as
determined by WFBC in its commercially reasonable sole discretion and (iii) the failure of WFBC to
maintain any such records shall not limit or otherwise affect the obligations of the Customer or
the rights and remedies of WFBC hereunder or under any Transaction Agreement.

17

 

Article 4.

Administration and Collections

4.01 Appointment of Servicer.

     (a) The servicing, administering and collecting of the Purchased Accounts shall be conducted
by a Person or Persons (a “Servicer”) designated to so act on behalf of WFBC under this Article 4.
As the initial Servicer, the Customer is hereby designated as, and agrees to perform the duties and
obligations of, the Servicer. The Customer acknowledges that WFBC has relied on the Customer’s
agreement to act as Servicer in making the decision to execute and deliver this Agreement and
agrees that it will not voluntarily resign as Servicer. At any time after the occurrence of an
Event of Termination, WFBC may designate a replacement Servicer to succeed the Customer or any
other replacement Servicer.

     (b) The Servicer may, with the prior written consent of WFBC, which consent may be withheld in
WFBC’s commercially reasonable sole discretion, delegate its duties and obligations as Servicer to
another Person affiliated with the Customer. Notwithstanding any such delegation, the Servicer
shall remain primarily liable for the performance of the duties and obligations so delegated, and
WFBC shall have the right to look solely to the Servicer for such performance. WFBC may at any
time after the occurrence of an Event of Termination remove or replace any such sub-Servicer.

     (c) If replaced, the Customer agrees it will terminate, and will cause each existing
sub-Servicer to terminate, its collection activities in a manner requested by WFBC to facilitate
the transition to a replacement Servicer. The Customer shall cooperate with and assist any
replacement Servicer in assuming the obligation to service the Purchased Accounts and the Related
Rights, including all reasonable efforts to provide the replacement Servicer with access to all
software programs necessary or desirable to collect the Purchased Accounts and the Related Rights.
After the appointment of a replacement Servicer, at its own expense, the Customer irrevocably
agrees to act (if requested to do so) as the data-processing agent for any replacement Servicer in
substantially the same manner as the Customer conducted such data-processing functions while it
acted as the Servicer.

4.02 Duties of Servicer.

     (a) The Servicer shall take, or cause to be taken, all action necessary or advisable to
collect each Purchased Account and the Related Rights in accordance with this Agreement, the Credit
and Collection Policy and all applicable laws, rules and regulations, using the skill and attention
the Servicer exercises in collecting other receivables or obligations owed solely to it, including:

          (i) hold all Collections in trust for WFBC’s account without commingling such funds with
Customer’s funds, provided, that the Customer shall be entitled to use all such Collections in
accordance with the terms of this Agreement until the occurrence and during the continuation of an
Event of Termination, provided, further that, upon the occurrence and during the continuation of an
Event of Termination, the Customer shall immediately deposit all such Collections into the
Collections Account until the Purchased Amount is reduced to zero, all other

18

 

amounts
due to WFBC under this Agreement have been paid in full and WFBC has no further obligations hereunder;

          (ii) maintain and implement prudent and reasonable administrative and operating procedures
(including an ability to recreate Records in the event of the destruction of the originals
thereof), keep and maintain all Records and all other books, records, documents and other
information reasonably necessary or advisable for the collection of the Purchased Accounts
(including records adequate to permit the daily identification of each Purchased Account, the
Related Rights and all collections of and reductions or adjustments to the Purchased Accounts) and
clearly and conspicuously mark its files containing the Records and its computer and master data
processing books and records, in each case with a legend describing WFBC’s interests therein;

          (iii) direct and take all reasonable steps to require its auditors to assist WFBC’s auditors
to the extent and in such manner as is required for WFBC’s auditors to report on the status of the
Purchased Accounts, the Related Rights and the Collateral;

          (iv) timely and fully perform and comply with all terms, covenants and other provisions of the
Related Rights required to be performed and observed by it or WFBC;

          (v) investigate all delinquencies and defaults under the Purchased Accounts in accordance with
the Credit and Collection Policy;

          (vi) respond to all reasonable inquiries of the Account Debtors in accordance with the Credit
and Collection Policy;

          (vii) promptly notify WFBC of any Commercial Dispute in which $50,000 or more is in dispute;

          (viii) comply in all respects with the Credit and Collection Policy in regard to each
Purchased Account and the Related Rights except where any noncompliance would not have a material
adverse effect on the collectibility or enforceability of such Purchased Account, such Related
Rights or WFBC’s rights thereunder;

          (ix) use reasonable care and due diligence to collect all Purchased Accounts (together with
all applicable sales, goods and services and similar taxes in respect thereof) on behalf of WFBC,
all in accordance with all applicable laws, rules and regulations, the provisions hereof and the
Credit and Collections Policy;

          (x) make all payments payable by it to government agencies and others where a Lien or deemed
trust might arise having priority over WFBC’s interest in any Purchased Account or any Related
Rights and, where a portion of the Collections received by it represents an amount owing in respect
of federal or state taxes, remit the amount of taxes so owing and prepare and file all returns and
reports required in respect thereof; provided that it may protest the payment of any such amounts
if it is acting in good faith and if it either provides WFBC with cash in an amount sufficient to
satisfy the same (including all interest and penalties) or otherwise satisfies WFBC that its
interests in such Purchased Account or Related Rights are not materially prejudiced thereby;

19

 

          (xi) as soon as possible, effect all filings or recordings with respect to WFBC’s interest in
the Purchased Accounts and the Related Rights necessary by law or reasonably prudent or desirable
for the perfection and protection of such interest and all appropriate renewals or amendments
thereof;

          (xii) promptly, from time to time, furnish to WFBC such Records and other documents, records,
information or reports in respect of the Purchased Accounts, the Related Rights and the Collateral
or its condition or operations, financial or otherwise, as may be in existence in written form or,
if available in databases it maintains, may be produced with existing software, each as WFBC may
from time to time reasonably request;

          (xiii) establish and maintain current and accurate records with respect to the location and
mailing address of each Account Debtor and provide copies thereof to WFBC on reasonable request;

          (xiv) promptly upon the reasonable request of WFBC, advise WFBC in writing of any changes in
any Account Debtor’s name or address which, prior to such request and since the last such request,
if any, came to the attention of any officer of the Customer responsible for monitoring the status
of the applicable Purchased Accounts; and

          (xv) apply all Collections pursuant to the terms of this Agreement and the Credit and
Collection Policy and post all new Purchased Accounts and the Related Rights to its books as
promptly as practicable after such Account is generated.

     (b) On or prior to the date hereof, the Servicer shall have given written directions to each
Account Debtor to remit all amounts due in respect of the Purchased Accounts and the Related Rights
to a Lockbox Account; provided that if the Customer or any replacement Servicer shall receive any
Collections, it shall remit such Collections to the Lockbox Account (designated by WFBC) within
three (3) Business Days of such receipt. Each party hereto hereby appoints the Servicer to enforce
such Person’s rights and interests in the Purchased Accounts and the Related Rights. The Servicer
shall be entitled to commence or settle any legal action to enforce the collection of any Purchased
Account or any Related Right; provided that, WFBC shall have the right to approve any such
settlement unless the Customer shall have repurchased such Purchased Account and the Related Rights
with respect thereto and shall have paid in full the Repurchase Price for such Purchased Account
and the Related Rights with respect thereto as set forth in Section 3.03. If at any time, WFBC
notifies the Servicer that WFBC believes litigation would be an appropriate means to collect any
Purchased Account or Related Rights, and the Servicer declines to initiate such litigation after
good faith discussion with WFBC, WFBC shall be entitled to notify the Account Debtor on such
Purchased Account of the assignment of an interest therein to WFBC or to initiate litigation with
respect thereto in the name of WFBC or in the name of the Customer unless the Customer shall have
repurchased such Purchased Account and the Related Rights with respect thereto and shall have paid
in full the Repurchase Price for such Purchased Account and the Related Rights with respect thereto
as set forth in Section 3.03.

     (c) The Servicer shall not, without the prior written consent of WFBC, extend, amend or
otherwise modify or waive any term or condition of any Purchased Account or any Related Rights with
respect thereto unless any such extension, amendment, modification or waiver (i) is

20

 

made or granted when no Event of Termination has occurred and is continuing; (ii) would not
reasonably be expected to have a material adverse effect on the collectibility or enforceability of
any Purchased Account, any Related Rights or WFBC’s rights thereunder; and (iii) is otherwise
permitted in accordance with the terms of the Credit and Collection Policy, and the Servicer
acknowledges that no such extension, amendment, modification or waiver will, in and of itself,
cause any Purchased Account to become an Acceptable Account.

     (d) At WFBC’s request, if an Event of Termination has occurred and is continuing, the Servicer
will, at the expense of the Customer, notify each Account Debtor of WFBC’s right, title and
interest in the Purchased Accounts and the Related rights and direct that payments be made directly
to WFBC or a designee of WFBC.

4.03 Enforcement Rights.

     (a) If an Event of Termination has occurred and is continuing, WFBC may direct any Account
Debtors to make all payments on the Purchased Accounts and the Related Rights directly to WFBC or
its designee. WFBC may, and the Customer shall, at WFBC’s request, withhold WFBC’s identity from
the Account Debtors. Upon WFBC’s request following an Event of Termination, the Customer (at the
Customer’s expense) shall (i) give notice to each Account Debtor and other Persons of WFBC’s
ownership of the Purchased Accounts and the Related Rights and direct that payments on Purchased
Accounts and Related Rights be made directly to WFBC (or its designee), (ii) assemble for WFBC all
Related Rights and Collateral (other than returned goods and inventory) and make the same available
to WFBC (or its designee) at a place selected by WFBC (or its designee), (iii) transfer (or
cause to be transferred) to WFBC (or its designee) non-exclusive and non-transferable licenses for
the use of, all software useful to collect the Purchased Accounts and the Related Rights and (iv)
segregate, in a manner reasonably acceptable to WFBC, all cash, checks and other instruments
constituting Collections which are received by or on behalf of the Customer from time to time and,
within one Business Day of receipt, remit the same to WFBC (or its designee), duly endorsed or with
duly executed instruments of transfer, if applicable. The Customer shall cooperate with any
replacement Servicer in the latter’s performance of its obligations. The Customer hereby confirms
that all software currently used to collect or service Purchased Accounts and the Related Rights
was developed and owned by the Customer, and hereby grants to WFBC a non-transferable and
non-exclusive license to use any and all such software, which license is coupled with an interest
and is irrevocable.

     (b) Upon the occurrence and during the continuation of an Event of Termination, the Servicer
shall segregate any Collections received by it from other funds of the Customer and the Servicer
within one Business Day of receipt and hold such amounts for WFBC. The Customer hereby irrevocably
appoints WFBC as its attorney-in-fact coupled with an interest, with full power of substitution and
with full authority in the place of the Customer, to take any and all steps deemed desirable by
WFBC, in the name and on behalf of the Customer to collect any amounts due under any Purchased
Account or any Related Right, including endorsing the name of the Customer on checks and other
instruments representing Collections and enforcing such Purchased Accounts and Related Rights.
WFBC’s powers under this Section 4.03(b) shall not subject WFBC to any liability if any action
taken by it proves to be inadequate or invalid, nor shall such powers confer any obligation
whatsoever upon WFBC.

21

 

     (c) WFBC is hereby authorized to give notice, at any time after the occurrence and during the
continuation of an Event of Termination, under each Lockbox Agreement that WFBC is exercising its
rights under such Lockbox Agreement and to take all actions permitted under such Lockbox Agreement.
The Customer agrees to take any action reasonably requested by WFBC to facilitate the foregoing.
After WFBC takes any such action under a Lockbox Agreement, the Customer shall immediately deliver
to WFBC any Collections received by the Customer. Should WFBC receive written notice (together
with proof satisfactory to WFBC in its reasonable discretion) that amounts it has previously
received as Collections are not Collections, if such amounts have not theretofore been applied as
Collections hereunder, WFBC shall remit such amounts to the Customer promptly after receiving such
notice and proof. Unless and until WFBC receives such notice and proof, WFBC may treat and apply
amounts received in any Lockbox Account as Collections. If WFBC receives such notice and proof
after applying any such amounts as Collections, such application of amounts shall not be reversed,
provided that the Purchased Amount shall be increased, as applicable, to reflect that such applied
amounts were not Collections.

     (d) WFBC shall have no obligation to take or consent to any action to realize upon any
Purchased Account or Related Right or to enforce any rights or remedies related thereto.

     (e) After the occurrence and during the continuation of an Event of Termination, in addition
to the rights otherwise provided herein, in any Related Document or by applicable law to WFBC, WFBC
may exercise all rights of a secured party under the Uniform Commercial Code (whether or not in
effect in the jurisdiction where such rights are exercised), including the right to sell the
Purchased Accounts and the Related Rights (or any portion thereof), in one or more sales.

4.04 Replacement Servicer Fee. A replacement Servicer appointed by WFBC upon an Event of
Termination shall be entitled to a commercially reasonable fee for services rendered, such fee to
be determined by WFBC, in its commercially reasonable discretion, with the replacement Servicer and
to be paid by the Customer (the “Replacement Servicer Fee”).

4.05 Responsibilities of the Customer. The Customer shall pay when due all taxes payable in
connection with the Purchased Accounts and the Related Rights or their creation or satisfaction.
The Customer shall perform all of its obligations under agreements related to the Purchased
Accounts and the Related Rights to the same extent as if interests in the Purchased Accounts and
the Related Rights had not been transferred hereunder. WFBC’s exercise of any rights hereunder
shall not relieve the Customer from such obligations. WFBC shall have no obligation to perform any
obligation of the Customer or any other obligation or liability in connection with the Purchased
Accounts or the Related Rights.

4.06 Actions by the Customer. The Customer, as servicer, shall defend and indemnify WFBC against
all costs, expenses, claims and liabilities for any action taken by the Customer or any other
Person (other than any such costs, expenses, claims or liabilities caused directly by the gross
negligence or willful misconduct of WFBC or any replacement Servicer) related to any Purchased
Account or any Related Rights, or arising out of any alleged failure of compliance of any Purchased
Account or Related Right with the provisions of any law or regulation.

22

 

Article 5.

Conditions Precedent

5.01 Conditions Precedent to Initial Purchase. Prior to the initial purchase hereunder, the
Customer shall deliver to WFBC, unless waived by it, the following documents, in form and substance
satisfactory to WFBC:

     (a) an executed copy of this Agreement;

     (b) (i) a certificate of an officer of the Customer containing a copy of its articles of
incorporation and bylaws, a resolution of its directors in substantially the form attached hereto
as Exhibit B, and the names and true signatures of the officers authorized to sign this Agreement
and the Transaction Agreements on its behalf, and (ii) a certificate of an officer of the Customer
containing the names and true signatures of the officers authorized to sign all reports and other
submissions under this Agreement and the Transaction Agreements on its behalf, on which
certificates WFBC shall be entitled to conclusively rely until such time as WFBC receives from the
Customer a replacement certificate meeting the requirements of this Section 5.01(b)(i) or (ii), as
the case may be;

     (c) a certificate of status, good standing or compliance in respect of the Customer issued by
its jurisdiction of incorporation and a certificate of status, good standing or compliance in
respect of the Customer issued by the appropriate authorities in each jurisdiction in which the
Customer is required to be registered in order to conduct its business;

     (d) legal opinions of counsel to the Customer, in substantially the form attached hereto as
Exhibit C;

     (e) a fully executed copy of each Lockbox Agreement;

     (f) Certificates of Insurance required under this Agreement, naming WFBC as a certificate
holder;

     (g) executed copies of all discharges and releases, if any, necessary to discharge or release
all Liens and other rights or interests of any Person in the Purchased Accounts, the Related Rights
or the Collateral previously granted by the Customer, together with file stamped copies of the
relevant UCC-3 termination statements;

     (h) current searches of the North Carolina Secretary of State and Wake County, North Carolina
recording office showing that (i) no Liens have been filed and remain in effect against the
Purchased Accounts, Related Rights or Collateral, and (ii) WFBC has duly filed all financing
statements necessary to perfect its Lien on the Purchased Accounts, the Related Rights and the
Collateral to the extent it is capable of being perfected by filing, and such other similar
instruments or documents as may be necessary and, in WFBC’s reasonable discretion, advisable under
any applicable statute to perfect, record or protect WFBC’s interest in the Purchased Accounts, the
Related Rights or the Collateral; and

23

 

     (i) payment of all fees due under the terms of this Agreement through the date of the initial
purchase and payment of all expenses incurred by WFBC and through such date and that are required
to be paid by the Customer under this Agreement.

5.02 Conditions Precedent to Subsequent Purchases. Each subsequent purchase of an Account and the
Related Rights with respect thereto shall be subject to the conditions precedent that, on the date
of such purchase before and after giving effect to such purchase, (a) the Customer has delivered to
WFBC an Assignment and Schedule of Accounts acceptable to WFBC in its commercially reasonable sole
discretion which includes the Accounts to be purchased, (b) the representations and warranties of
the Customer hereunder are correct on and as of the date of such purchase as though made on and as
of such date, except to the extent that such representations and warranties relate solely to an
earlier date and (c) no event has occurred and is continuing, or would result from such purchase,
which constitutes an Event of Termination or would constitute an Event of Termination but for the
requirement that notice be given or time elapse or both.

Article 6.

The Customer’s Representations and Warranties

The Customer hereby represents and warrants as of the date hereof and upon each Settlement Date as
follows:

6.01 Existence and Trade Names. The Customer is duly organized, validly existing and in good
standing under the laws of its jurisdiction of incorporation and is duly qualified to carry on
business in each jurisdiction in which the failure to be so qualified would reasonably be expected
to have a Material Adverse Effect. All of the Customer’s current trade name(s) have been properly
filed and published as required by applicable law.

6.02 Corporate Power and Authority. The Customer has all requisite corporate power and authority
to execute and deliver, and to perform all of its obligations under, this Agreement and all of the
Transaction Agreements to which it is a party.

6.03 Corporate Action. The Customer has taken all necessary corporate action to authorize the
execution, delivery and performance of this Agreement and all of the Transaction Agreements to
which it is a party.

6.04 Authorization. The execution, delivery and performance by the Customer of this Agreement and
all of the Transaction Agreements to which it is a party have been duly authorized and do not
require the consent or approval of the Customer’s shareholders.

6.05 Binding Effect. This Agreement and all of the Transaction Agreements to which it is a party
have been duly executed and delivered by the Customer and constitute the legally binding obligation
of the Customer enforceable against it in accordance with their terms, subject to applicable
bankruptcy, reorganization, insolvency, moratorium and other similar laws affecting creditors’
rights generally and equitable principles of general application (regardless of whether enforcement
is sought in a proceeding at law or in equity).

24

 

6.06 No Contravention; No Consent Required. The Customer’s execution and delivery of this
Agreement or any Transaction Agreement to which it is a party and compliance with their respective
terms and conditions will not (a) result in a violation of the Customer’s articles of incorporation
or bylaws or any resolutions passed by the Customer’s directors or shareholders, (b) result in a
violation of any applicable law, rule, regulation, order, judgment, injunction, award or decree the
violation of which would reasonably be expected to have a Material Adverse Effect; (c) result in a
breach of, or constitute a default under, any loan agreement, indenture, trust deed or any other
agreement or instrument to which the Customer is a party or by which it is bound which would
reasonably be expected to have a Material Adverse Effect; (d) require any approval or consent of,
or any notice to or filing with, any governmental authority or agency having jurisdiction except
such as has already been obtained, or (e) result in, or require, the creation or imposition of any
Lien (other than WFBC’s Lien in the Purchased Accounts, the Related Rights and the Collateral) upon
or with respect to any of the properties now owned or subsequently acquired by the Customer.

6.07 Chief Executive Office. The Customer’s chief executive office is at the location(s) set out
under the Customer’s name on the signature pages to this Agreement. The locations of all
Collateral, including all Records, are set forth on Schedule 6.07 hereto.

6.08 Solvency of the Customer. The Customer is solvent and is not subject to any Insolvency
Proceeding.

6.09 Taxes. The Customer has made and shall continue to make timely payment and remittance to
applicable governmental authorities of all taxes and other amounts required to be paid and remitted
by the Customer pursuant to applicable law, except (a) for such taxes as may be contested by the
Customer in good faith and for which appropriate reserves have been established as determined by
WFBC in its reasonable discretion and (b) for taxes the non-payment of which would not materially
adversely affect the interest of WFBC in the Purchased Accounts, the Related Rights or the
Collateral or the collectibility and enforceability of the Purchased Accounts, the Related Rights
or the Collateral or WFBC’s rights thereunder.

6.10 Good Title; No Liens. The Customer is, at the time of purchase of each Account and the
Related Rights with respect thereto by WFBC, the lawful owner of and has good and undisputed title
to such Account and the Related Rights with respect thereto. At the time of purchase, each Account
and the Related Rights with respect thereto are free from any Liens, mortgages, restrictions or
encumbrances other than the Lien created hereunder. Each Account offered for sale to WFBC is an
Acceptable Account.

6.11 Solvency of Account Debtors. To the best of the Customer’s information and knowledge at the
time of this Agreement and at the time each Account of such Account Debtor and the Related Rights
with respect thereto are presented to WFBC for purchase, no Account Debtor’s business is insolvent.

6.12 Accounts Undisputed; Transferable. Each Account or portion thereof, as the case may be,
offered for sale to WFBC (a) is an accurate and undisputed statement of indebtedness owed by the
applicable Account Debtor to the Customer for a certain sum which is due and payable in (i) sixty
(60) days or less with respect to Martin Marietta Magnesia Specialties, LLC or (ii) thirty

25

 

(30) days or less with respect to all other Account Debtors, in each case other than Account
Debtors on the Assignment and Schedule of Accounts on the date hereof with sums that are currently
due and payable in longer than 30 days, or within such longer term as is agreed to by WFBC and the
Customer, and (b) is for a bona fide sale, delivery and acceptance of merchandise or performance of
services which have been received and finally accepted by such Account Debtor. The Customer has
all rights to transfer or sell such Accounts and the Related Rights with respect thereto to WFBC
and such Accounts and the Related Rights with respect thereto are payable by the applicable Account
Debtor without offset, deduction or counterclaim.

6.13 No Ownership; Control of Account Debtors. The Customer does not own, control or exercise
dominion over, in any way whatsoever, any Account Debtor or the business of any Account Debtor for
whom Accounts are to be, or have been, sold by the Customer to WFBC.

6.14 Accuracy of Information. All of the Records and all other records, statements, books or other
written information shown to WFBC by the Customer at anytime, either before or after the signing of
this Agreement, are true and accurate in all material respects.

6.15 No Actions; Suits. There is no action, suit or proceeding at law or in equity or by or before
any governmental instrumentality or other agency now pending, or to the knowledge of the Customer,
threatened against or affecting the Customer, which if adversely determined, would have a Material
Adverse Effect.

6.16 Material Adverse Effect. Since the date of the Customer’s most recent audited financial
statements, there has been no Material Adverse Effect.

6.17 As-Extracted Collateral. None of the Purchased Accounts, Related Rights nor Collateral
constitutes or will constitute “as-extracted collateral” as defined in the Uniform Commercial Code
as adopted in the State of New York or any other state where the Customer has an interest in
minerals before extraction.

Article 7.

The Customer’s Covenants

The Customer agrees as follows:

7.01 Compliance with Governing Documents; Laws. The Customer will comply in all material respects
with its articles of incorporation and bylaws and all applicable laws, rules, regulations and
orders with respect to it, its properties, and all Purchased Accounts and the Related Rights with
respect thereto, and will preserve and maintain its existence, rights, franchises, qualifications,
and privileges in the jurisdiction of its organization, and qualify and remain qualified in good
standing in each jurisdiction where the failure to be so qualified would reasonably be expected to
result in a Material Adverse Effect.

7.02 Accounts Free from Defenses, etc. If, on the last day of any Settlement Period, the Accounts
presented for purchase, the Purchased Accounts and the Related Rights are subject to any defense,
withholding, set-off, counterclaim, deduction, discount, dispute with respect to underlying goods
or services, or other claim by an Account Debtor (in the aggregate, the “Dispute Amount”) which in
the aggregate exceed one percent (1.0%) of the Facility Maximum,

26

 

the Customer shall, on or before the Settlement Date immediately following such Settlement Period,
repurchase Purchased Accounts and the Related Rights with respect thereto with a Repurchase Price
equal to at least the amount required to reduce such excess to zero.

7.03 Compliance with Account Debtor Agreements. The Customer will, at its own expense, timely and
fully perform and comply with all material provisions, covenants and other promises required to be
observed by it under the agreements with its Account Debtors, and timely and fully comply in all
material respects with the Credit and Collection Policy in regard to each Purchased Account. The
Customer will not make any change in the character of its business that (a) would reasonably be
expected to result in a Material Adverse Effect or (b) could result in a Purchased Account becoming
an Unacceptable Account. The Customer will not amend or otherwise modify the Credit and Collection
Policy without giving WFBC 15 Business Days’ prior written notice.

7.04 Ensure Payment of Purchased Accounts; Defend WFBC Title. The Customer will (a) take all steps
reasonably necessary or reasonably requested by WFBC to (i) ensure payment of all Purchased
Accounts and the Related Rights with respect thereto by the Account Debtors and (ii) defend the
title of WFBC to each Purchased Account and the Related Rights with respect thereto and the
proceeds thereof against the claims of all other Persons and (b) consult with WFBC with respect to
any actions taken pursuant to clause (a) hereof.

7.05 Delivery of Instruments, etc. Upon request by WFBC after the occurrence of an Event of
Termination, the Customer will promptly (but in any event within three Business Days of such
request) deliver to WFBC in pledge all instruments, documents and chattel paper constituting
Collateral or otherwise evidencing any Purchased Account or the Related Rights with respect
thereto, duly endorsed or assigned by the Customer.

7.06 Payment Instructions. The Customer will not issue any payment instructions to any Account
Debtor other than in accordance with the terms of this Agreement and the Related Documents. The
Customer will not alter any electronic or other instruction, code or password which could result in
payment from an Account Debtor being made to any Person other than the Servicer or WFBC.

7.07 Reporting Requirements. The Customer will provide to WFBC the following:

     (a) as soon as available and in any event within 60 days after the end of each calendar
quarter, year-to-date consolidated unaudited financial statements of the Customer including
its Subsidiaries and including a statement of quarterly income and a balance sheet,
certified by an authorized officer of the Customer;

     (b) as soon as available and in any event within 95 days after the Customer’s fiscal
year end, the consolidated audited financial statements of the Customer including its
Subsidiaries, reported on by an independent certified public accountant, which shall include
a balance sheet, income statement, and statement of retained earnings. The annual financial
statements shall be accompanied by copies of all management letters prepared by the
Customer’s accountants;

27

 

     (c) on or before the second Business Day of each Settlement Period, the Customer will
deliver to WFBC a certificate in the form attached hereto as Exhibit D signed by an officer
of the Customer which shall include: (i) a portfolio report relating to the Purchased
Accounts as of the close of business on the last day of the immediately preceding Settlement
Period, which report shall specifically identify (A) the Purchased Accounts as of the date
of such report (including which such Purchased Accounts were added during such Settlement
Period), (B) which Purchased Accounts have become Unacceptable Accounts as of the last day
of such Settlement Period based on the parameters set forth in the subsections of Section
2.79, (C) the Outstanding Balance of each Purchased Account as of the last day of such
Settlement Period, (D) Collections during such Settlement Period, (E) the Dispute Amount as
of the last day of such Settlement Period and (F) a list of overdue payments, losses,
recoveries, turnover and equity measures taken during such Settlement Period; (ii) a
compliance certificate regarding the occurrence of an Event of Termination; (iii) a listing
by Account Debtor of the outstanding Purchased Accounts of such Account Debtor and an aging
report in respect of the Purchased Accounts, each as of the last day of such Settlement
Period, determined in accordance with this Agreement and the instructions of WFBC; and (iv)
such other information as WFBC may reasonably request;

     (d) promptly upon discovery, written notice of any commercial tort claims brought by
the Customer against any Person with respect to a Purchased Account, any Related Rights or
any Collateral, including the name and address of each defendant, a summary of the facts, an
estimate of the Customer’s damages, copies of any complaint or demand letter submitted by
the Customer, and such other information as WFBC may request;

     (e) such other information documents, records or reports in respect of the Purchased
Accounts, the Related Rights, the Collateral or the condition or operations, financial or
otherwise, of the Customer or any of its Subsidiaries as WFBC may from time to time
reasonably request;

     (f) promptly after the sending, furnishing or filing thereof (but in any event within 5
Business Days after the sending, furnishing or filing thereof), copies of all current and
periodic reports, and proxy or information statements, which the Customer shall furnish or
file with the Securities and Exchange Commission; and

     (g) for so long as the Customer is subject to the reporting requirements of the
Securities and Exchange Act of 1934, as amended, the Customer may satisfy the financial
statement delivery requirements set forth in subsections (a) and (b) above by providing WFBC
with copies of (i) its quarterly and annual reports on Forms 10-Q and 10-K filed with the
Securities and Exchange Commission and (ii) all management letters prepared by the
Customer’s accountants.

7.08 Notation on Invoices. If an Event of Termination has occurred and is continuing, at the
request of WFBC, the Customer will immediately make a notation on each original invoice (or the
electronic equivalent of an invoice) or other such documentation accepted by WFBC for each

28

 

Purchased Account which indicates that such Account has been sold, transferred and assigned to
WFBC. Such notation shall read as follows or as otherwise agreed to by WFBC in writing:

This invoice has been sold, transferred and assigned to

and is payable to:

WELLS FARGO BUSINESS CREDIT

Dept. 1494

Denver, Colorado 80291-1494

For information call 303/433-9300

Wire Instructions:

WELLS FARGO BANK, N.A.

San Francisco, CA

ABA# 121000248

Beneficiary: Wells Fargo Business Credit

Acct# 6355033300

In addition, if an Event of Termination has occurred and is continuing, at the request of WFBC, the
Customer will immediately make a notation, in form and substance acceptable to WFBC in its
commercially reasonable sole discretion, on any other form of documentation accepted by WFBC for
each Purchased Account and all Related Rights which indicates that such Purchased Account and
Related Rights have been sold, transferred and assigned to WFBC.

7.09 No Sale or Assignment. The Customer will not sell or assign Acceptable Accounts or any
Related Rights to any party other than WFBC.

7.10 No Modification of Invoices. Without prior written consent from WFBC, the Customer will not
change or modify the terms of the original invoice or agreement with any Account Debtor owing
Purchased Accounts with an aggregate Outstanding Balance of $50,000 or more or the order of payment
on Accounts sold to WFBC.

7.11 Material Disputes. The Customer will promptly (but in any event within three Business Days of
obtaining knowledge thereof) notify WFBC of (a) any material dispute between the Customer and an
Account Debtor in which $50,000 or more is in dispute, (b) the return or returns by an Account
Debtor or its Affiliates to the Customer of any product with a fair market value of $50,000 or more
in the aggregate at any one time or (c) any material claim, loss or offset of any kind against the
Customer or WFBC in excess of $50,000 asserted by an Account Debtor owing a Purchased Account.

7.12 Leverage Ratio. The Leverage Ratio will not exceed 3.25 to 1.00 as of the end of any fiscal
quarter; provided that if (a) Consolidated Debt has increased in connection with a Specified
Acquisition, (b) as a consequence of such Specified Acquisition, the rating of long-term unsecured
debt of the Customer has not been suspended, withdrawn or fallen below BBB by Standard & Poor’s (a
division of The McGraw-Hill Companies, Inc.) or Baa2 by Moody’s Investors Service, Inc. and (c) the
Administrative Agent (as defined in the Credit Agreement) has received a Specified Acquisition
Notice within 10 days of consummation of such Specified Acquisition, then, for a period of 180
consecutive days following the consummation of such

29

 

Specified Acquisition, the additional Consolidated Debt in connection with such Specified
Acquisition will be excluded from Consolidated Debt for purposes of calculating the Leverage Ratio,
but only if the Leverage Ratio calculated without such exclusion at no time exceeds 3.50 to 1.00.

7.13 Insurance. The Customer will maintain such insurance covering the Customer’s business or the
property of the Account Debtors as is customary and adequate for businesses similar to the business
of the Customer and promptly pay all premiums with respect to the policies covering such insurance.
Further, the Customer will have WFBC named as a certificate holder for such insurance.

7.14 Chief Executive Office; Location of Books and Records. The Customer will notify WFBC in
writing prior to any change in the location of any of the Collateral, including any Records, to any
location not identified on Schedule 6.07 attached hereto. The Customer will not change its chief
executive office or the office or offices where the Customer’s books and records concerning
Purchased Accounts and the Related Rights are kept without thirty (30) days’ prior written notice
to WFBC, it being understood that any books and records concerning the Purchased Accounts or the
Related Rights may be kept at any location identified on Schedule 6.07 attached hereto without
requiring any notification to WFBC. The Customer may upon prior written notice to WFBC add or
remove locations from Schedule 6.07 and such Schedule shall be considered amended upon proper
delivery to WFBC of written notice of a change thereto.

7.15 Notification of Changes; Additional Trade Names; Dissolution. The Customer will notify WFBC
in writing at least thirty (30) Business Days prior to any proposed change of the Customer’s legal
name, jurisdiction of incorporation, identity, legal entity, or corporate structure, and any
proposed business dissolution. The Customer will notify WFBC in writing at least thirty (30)
Business Days prior to any use of any additional trade name. The Customer will notify WFBC in
writing within five (5) Business Days after any Person becomes the direct or indirect owner of 25%
or more of the equity interests in the Customer.

7.16 Notification of Legal Proceedings. No later than three days after discovery, the Customer
will notify WFBC in writing of (a) any litigation or other proceeding before any court or
governmental agency which seeks a monetary recovery against the Customer in excess of $5,000,000 or
(b) any Insolvency Proceeding against the Customer. The Customer will notify WFBC in advance of
the filing of any Insolvency Proceeding by the Customer.

7.17 USA Patriot Act. The Customer will (i) not use or permit the use of the proceeds of this
Agreement or any other financial accommodation from WFBC to violate any of the foreign asset
control regulations of the Office of Foreign Assets Control or other applicable law, (ii) comply,
and cause each Subsidiary to comply, with all applicable Bank Secrecy Act laws and regulations, as
amended from time to time, and (iii) otherwise comply with the USA Patriot Act (Title III of Pub.
L. 107-56 (signed into law October 26, 2001)) as required by federal law and WFBC’s policies and
practices.

30

 

Article 8.

Security Interest

8.01 Security Interest/Collateral. As further inducement for WFBC to enter into this Agreement,
the Customer hereby pledges, assigns and grants to WFBC, a lien and security interest in the
Purchased Accounts, the Related Rights and the Collateral as security for the payment and
performance of any and all present and future advances, debts, obligations and liabilities of the
Customer to WFBC arising out of or related to this Agreement or any Transaction Agreement,
heretofore, now or hereafter made, incurred or created, whether due or not due, absolute or
contingent, liquidated or unliquidated, determined or undetermined, whether recovery upon such
indebtedness may be or hereafter becomes unenforceable. Following request by WFBC, the Customer
shall grant WFBC a Lien and security interest in all commercial tort claims that it may have
against any Person.

8.02 Security Documents. The Customer authorizes WFBC, at the Customer’s expense, to file
financing statements describing the Purchased Accounts, the Related Rights and the Collateral to
perfect WFBC’s Lien in the Purchased Accounts, the Related Rights and the Collateral, and WFBC may
describe the Collateral as “all personal property” or “all assets” or describe specific items of
Collateral including commercial tort claims, as WFBC may consider necessary or useful to perfect
WFBC’s Lien in the Purchased Accounts, the Related Rights and the Collateral. Following the Final
Termination Date, WFBC will, at the Customer’s expense and within the time periods required under
applicable law, release or terminate any and all filings or other agreements that perfect its Liens
in the Purchased Accounts, the Related Rights and the Collateral; provided, however, that WFBC
agrees that, on the Final Termination Date, WFBC will authorize the Customer, at the Customer’s
expense, to terminate any and all UCC financing statements that perfect WFBC’s Liens in the
Purchased Accounts, the Related Rights and the Collateral.

Article 9.

Operational Provisions

9.01 Power of Attorney. In order to carry out this Agreement, the Customer irrevocably appoints
WFBC, its successors, each Assignee and any Person designated by WFBC, its successors or such
Assignees, including any replacement Servicer, (which appointment is coupled with an interest) as
its attorney in fact, with right of substitution, to:

     (a) in order to evidence or protect WFBC’s interest in the Purchased Accounts, the Related
Rights and the Collateral, execute and file, in the Customer’s name and on the Customer’s behalf,
such recording, financing or similar statements (including any amendments, renewals and
continuation statements) under applicable laws, in such jurisdictions where it may be necessary to
validate, perfect or protect WFBC’s interest in any of the Purchased Accounts, the Related Rights
and the Collateral;

     (b) upon the occurrence and during the continuation of an Event of Termination, strike through
the Customer’s remittance information on all invoices delivered to Account Debtors and note WFBC’s
remittance information on all invoices;

31

 

     (c) upon the occurrence and during the continuation of an Event of Termination under
subsection (a), (b), (f), (i), (k) or (l) of Section 10.01 or upon the occurrence and during the
continuation of an Event of Termination resulting from the breach of Section 6.14, in WFBC’s name
or in the Customer’s name, as the Customer’s agent and attorney-in-fact, notify the United States
Postal Service to change the address for delivery of the Customer’s mail to any address designated
by WFBC, otherwise intercept the Customer’s mail, and receive, open and dispose of the Customer’s
mail, applying all proceeds of Purchased Accounts, Related Rights and Collateral as permitted under
this Agreement and holding all other mail for the Customer’s account or forwarding such mail to the
Customer’s last known address;

     (d) upon the occurrence and during the continuation of an Event of Termination, notify any
Account Debtor or other Person obligated to pay a Purchased Account that such right to payment has
been sold, assigned and transferred to WFBC and shall be paid directly to WFBC (and the Customer
will join in giving such notice if WFBC so requests);

     (e) upon the occurrence and during the continuation of an Event of Termination, at any time
after the Customer or WFBC gives notice as set forth in Section 9.01(d) to an Account Debtor or
other obligor and with or without notice to the Customer, in WFBC’s name or in the Customer’s name,
(a) demand, sue for, file any claims or take any action or institute any proceedings for, collect,
give releases for or receive any money or property at any time payable or receivable on account of
or securing, any such right to payment, or (b) grant any extension to, make any compromise or
settlement with or otherwise agree to waive, modify, amend or change the obligations (including
collateral obligations) of any such Account Debtor or other obligor;

     (f) endorse the name of the Customer or the Customer’s trade names on any checks or other
evidences of payment that may come into the possession of WFBC with respect to any Purchased
Account, or on any other documents relating to any of the Purchased Accounts, the Related Rights or
the Collateral;

     (g) process any payments received directly by WFBC on a Purchased Account or any Related
Rights either by delivery to a Lockbox if WFBC so directs or by direct collection and subsequent
crediting of the Collections Account, and individually deliver any other payment for the benefit of
the Customer directly to the Customer in the form received in accordance with this Agreement;

     (h) upon the occurrence and during the continuation of an Event of Termination, compromise,
prosecute, or defend any action, claim or proceeding as to any Purchased Account, any Related Right
or any Collateral;

     (i) upon the occurrence and during the continuation of an Event of Termination, offer a trade
discount to any Account Debtor exclusive of the Customer’s normal business custom with such Account
Debtor;

     (j) upon the occurrence and during the continuation of an Event of Termination, initiate
electronic debit or credit entries through the ACH system to or from any Lockbox Account or any
other deposit account maintained by the Customer in which proceeds of the Collateral are deposited;

32

 

     (k) upon the occurrence and during the continuation of an Event of Termination, sign the
Customer’s name on any notice of assignment or on any notices to Account Debtors;

     (l) upon the occurrence and during the continuation of an Event of Termination, take any other
actions WFBC deems necessary or advisable to collect, endorse, negotiate or otherwise realize on
the Purchased Accounts, the Related Rights, the Collateral or any part thereof, any negotiable
instrument, or other right of any kind, held or owned by the Customer and sold, transferred,
assigned or delivered to or received by WFBC as payment on account or otherwise in respect of any
of the Purchased Accounts, the Related Rights or the Collateral; and

     (m) upon the occurrence and during the continuation of an Event of Termination, take any and
all actions required (as determined by WFBC in its commercially reasonable sole discretion) to
enforce WFBC’s rights and remedies hereunder or under any Related Document and to otherwise carry
out the purposes of this Agreement or any Related Document, including exercising any of the
remedies set forth in this Agreement or any Related Document.

The authority granted to WFBC under this Section 9.01 shall remain in full force and effect until
the payment in full of all amounts due and owing to WFBC hereunder and under each Transaction
Agreement, the satisfaction of all obligations of the Customer to WFBC hereunder and under each
Transaction Agreement and termination of all obligations of WFBC hereunder and under each
Transaction Agreement. WFBC’s performance of such actions shall be taken or not taken in its
commercially reasonable sole discretion and shall not relieve the Customer from any obligation or
cure any default under this Agreement or any Related Document. The powers of attorney described in
this Section 9.01 are coupled with an interest and are irrevocable, shall survive the Customer’s
dissolution and shall not be affected by the Customer’s insolvency or bankruptcy in any manner.

9.02 License. The Customer hereby grants to WFBC a non exclusive, worldwide and royalty free
license to use or otherwise exploit all intellectual property rights of the Customer (whether owned
or licensed) for the purpose of collecting the Purchased Accounts and selling, leasing or otherwise
disposing of any or all Related Rights and Collateral during the existence of an Event of
Termination.

9.03 Reports. In the event the Customer requests information from WFBC regarding the Customer’s
account hereunder, such requests shall be subject to the schedule of fees provided by WFBC which
schedule may be adjusted by WFBC from time to time in its discretion.

9.04 Account Verification. WFBC or its agent may, at any time and from time to time, send or
require the Customer to send requests for verification of Purchased Accounts (including amounts
owed to the Customer) to Account Debtors and other obligors or, so long as an Event of Termination
has occurred and is continuing, notices of assignment to Account Debtors and other obligors.

9.05 Books and Records; Collateral Examination; Inspection. The Customer shall hold the Records in
trust for WFBC and keep complete and accurate books and records with respect to the Purchased
Accounts, the Related Rights and the Collateral and the Customer’s business and financial condition
and any other matters that WFBC may reasonably request, where applicable in accordance with
generally accepted accounting principles. The Customer shall permit any

33

 

employee, attorney, accountant or other agent of WFBC to examine and inspect the Related Rights and
the Collateral and any property of the Customer related to the Purchased Accounts, the Related
Rights or the Collateral and to audit, review, make extracts from and copy any of its books and
records (a) at any time during ordinary business hours as long as no Event of Termination has
occurred and is continuing and (b) at any time during the continuation of an Event of Termination,
and to discuss the Customer’s affairs with any of its directors, managers, officers, employees,
owners or agents. The Customer authorizes all accountants and other Persons acting as its agent to
disclose and deliver to WFBC’s employees, accountants, attorneys and other Persons acting as its
agent, at the Customer’s expense, all financial information, books and records, work papers,
management reports and other information in their possession regarding the Customer. If WFBC
occupies or uses the premises of the Customer hereunder, WFBC shall not be obligated to pay or
account for any rent or other compensation for such occupancy or use; provided, however, that if
WFBC does pay or account for any rent or other compensation for such occupancy or use, the Customer
shall reimburse WFBC on demand for the full amount thereof.

9.06 Duty of Care and Related Matters. WFBC’s duty of care with respect to any Purchased Accounts,
Related Rights or Collateral in its possession (as imposed by law) will be deemed fulfilled if it
exercises reasonable care in physically keeping such Purchased Accounts, Related Rights, or
Collateral or in the case of Related Rights and Collateral in the custody or possession of a bailee
or other third Person, exercises reasonable care in the selection of the bailee or third Person,
and WFBC need not otherwise preserve, protect, insure or care for such Purchased Accounts, Related
Rights or Collateral. WFBC shall not be obligated to preserve rights the Customer may have against
prior parties, to liquidate the Purchased Accounts, the Related Rights and the Collateral at all or
in any particular manner or order or apply the proceeds of the Purchased Accounts, the Related
Rights and the Collateral in any particular order of application. WFBC has no obligation to clean
up or prepare Collateral for sale. The Customer waives any right it may have to require WFBC to
pursue any third Person for any amounts payable to WFBC by the Customer.

9.07 Notice of Assignment to Account Debtor. The Customer shall label its records in a manner
reasonably acceptable to give proper notice of the assignment of the Purchased Accounts and Related
Rights to WFBC. Nothing in this Section 9.07 shall however require the Customer, nor permit WFBC,
to deliver notice of the sale, transfer or assignment of a Purchased Account and the Related Rights
with respect thereto to the applicable Account Debtor unless an Event of Termination has occurred
and is continuing. Except as otherwise permitted hereunder or under any Transaction Agreement,
WFBC shall not reveal any sale and assignment of a Purchased Account or the Related Rights with
respect thereto to the applicable Account Debtor without the Customer’s consent, unless an Event of
Termination has occurred and is continuing, or, after notice to the Customer, in order to comply
with applicable law.

9.08 Certifications. The Secretary or Assistant Secretary of the Customer shall certify to WFBC
the names and signatures of the persons who, on the date hereof, are duly elected, qualified and
acting as the officers or agents referred to in the resolutions adopted by the Customer with
respect to this Agreement, and the Secretary or Assistant Secretary shall from time to time
hereafter, upon a change in the facts so certified, certify to WFBC the names and signatures of the
persons then authorized to sign or to act within three Business Days after any

34

 

such change. WFBC shall be fully protected in relying on such certificates and on the obligation
of the Secretary or Assistant Secretary of the Customer to certify to WFBC any change in any facts
so certified. At all times, there shall be at least two officers or agents authorized to sign or
to act under this Agreement and the Transaction Agreements on behalf of the Customer, and the
Customer shall have delivered to WFBC certificates containing the names and true signatures of each
such agent and officer, on which certificates WFBC shall be entitled to conclusively rely.

Article 10.

Events of Termination

10.01 Events of Termination. Any one or more of the following shall be an Event of Termination
hereunder:

     (a) The Customer shall fail to pay any indebtedness (other than any interest or fees) to WFBC
when due hereunder or repurchase any Purchased Account when required hereunder.

     (b) The Customer shall fail to pay any interest or fees to WFBC when due hereunder and such
failure shall continue for 5 Business Days.

     (c) The Customer shall breach any term, provision, promise or covenant (other than those
otherwise covered in this Section 10.01) (i) to be performed by it under Section 7.01, Section
7.03, Section 7.04, Section 7.06, Section 7.08, Section 7.09, Section 7.15, or Section 7.17, (ii)
to be performed or observed under any other Transaction Agreement to which it is a party and the
applicable grace or cure period, if any, under such Transaction Agreement has expired without such
breach being waived or cured, or (iii) to be performed or observed under any other provision of
this Agreement and such breach in the case of this clause (iii) shall continue for 10 Business Days
after the earlier of (x) the date on which the Customer becomes aware of such breach or (y) the
date on which WFBC notifies the Customer of such breach; provided that, if any such breach under
clause (i), (ii) or (iii) would not have occurred if a specific Purchased Account and the Related
Rights with respect thereto had not been sold, assigned and transferred hereunder, the Customer may
cure such breach by repurchasing each such Purchased Account and the Related Rights with respect
thereto and paying in full the Repurchase Price for each such Purchased Account and the Related
Rights with respect thereto (A) with respect to a breach in the case of clause (i), either upon
demand by WFBC or, if no demand has been made, as elected by the Customer and (B) with respect to a
breach in the case of clause (ii) or (iii), on or before the first Settlement Date following the
earlier of (x) the date on which the Customer becomes aware of such breach or (y) the date on which
WFBC notifies the Customer of such breach.

     (d) The Customer shall breach Section 7.14 and such breach shall continue until the later of
(i) the first Settlement Date after the earlier of (A) the date on which the Customer becomes aware
of such breach or (B) the date on which WFBC notifies the Customer of such breach or (ii) two
Business Days after the earlier of (A) the date on which the Customer becomes aware of such breach
or (B) the date on which WFBC notifies the Customer of such breach.

     (e) Any representation, warranty, certification or statement made, or deemed made by the
Customer in, or pursuant to, this Agreement or any Transaction Agreement proves to have

35

 

been incorrect in any material respect when made or deemed made and such breach shall remain
unremedied for 5 Business Days after the earlier of (i) the date on which the Customer becomes
aware of such breach or (ii) the date on which WFBC notifies the Customer of such breach; provided
that, if any such breach would not have occurred if a specific Purchased Account and the Related
Rights with respect thereto had not been sold, assigned and transferred hereunder, the Customer may
cure such breach by repurchasing each such Purchased Account and the Related Rights with respect
thereto and paying in full the Repurchase Price for each such Purchased Account and the Related
Rights with respect thereto on or before the first Settlement Date following the earlier of (x) the
date on which the Customer becomes aware of such breach or (y) the date on which WFBC notifies the
Customer of such breach.

     (f) The appointment of any receiver or trustee of all or a substantial portion of the assets
of the Customer; the Customer shall become insolvent or unable to pay debts as they mature; the
Customer shall make a general assignment for the benefit of creditors or voluntarily commence any
Insolvency Proceeding affecting the Customer; or any involuntary Insolvency Proceeding shall be
filed against the Customer and is not dismissed within sixty (60) days.

     (g) (i) The Customer shall create, incur or suffer to exist any Lien (other than WFBC’s Lien)
upon any of the Collateral or (ii) any levies, attachment, executions, or similar process shall be
issued against the Collateral, in respect of an amount in excess of, with respect to clauses (i)
and (ii) together, $50,000 in the aggregate at any one time which is not contested by the Customer
in good faith.

     (h) Any financial statements, profit and loss statements, or material schedules, other
material statements, information or documents furnished by the Customer to WFBC in writing are
false or incorrect in any material respect when furnished to WFBC and such deficiency shall remain
uncorrected for 5 Business Days after the earlier of (i) the date on which the Customer becomes
aware of such deficiency or (ii) the date on which WFBC notifies the Customer of such deficiency.

     (i) Any document or other written information submitted by the Customer to WFBC for the
purchase of an Account is fraudulent.

     (j) The Customer fails to submit any document or other written information required by WFBC
under this Agreement for the purchase of an Account and such failure shall remain unremedied for 5
Business Days after the earlier of (i) the date on which the Customer becomes aware of such failure
or (ii) the date on which WFBC notifies the Customer of such failure.

     (k) The Purchased Amount as measured on the last day of a Settlement Period is greater than
the Facility Maximum, and the Customer fails to cure such default on or before the Settlement Date
immediately following such Settlement Period.

     (l) (i) The Customer, directly or indirectly, disaffirms or contests in writing the validity
or enforceability of this Agreement or any Transaction Agreement or (ii) this Agreement or any
Transaction Agreement fails to be the enforceable obligation of the Customer.

     (m) (i) Any Person shall engage in any “prohibited transaction” (as defined in Section 406 of
ERISA or Section 4975 of the Code) involving any Plan, (ii) any “accumulated funding

36

 

deficiency” (as defined in Section 302 of ERISA), whether or not waived, shall exist with
respect to any Plan or any Lien in favor of the PBGC or a Plan shall arise on the assets of the
Customer or any Subsidiary, (iii) a Reportable Event shall occur with respect to, or proceedings
shall commence to have a trustee appointed, or a trustee shall be appointed, to administer or to
terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or
appointment of a trustee is reasonably likely to result in the termination of such Plan for
purposes of Title IV of ERISA (other than a standard termination pursuant to Section 4041(b) of
ERISA), (iv) any Single Employer Plan shall terminate for purposes of Title IV of ERISA (other than
a standard termination pursuant to Section 4041(b) of ERISA), (v) any of the Customer or any
Subsidiary shall, or is reasonably likely to, incur any liability in connection with a withdrawal
from, or the Insolvency or Reorganization of, a Multiemployer Plan, (vi) the occurrence or expected
occurrence of any event or condition which results or is reasonably likely to result in any of the
Customer’s or any Subsidiary’s becoming responsible for any liability in respect of a Former Plan
(other than a standard termination pursuant to Section 4041(b) of ERISA), or (vii) any other event
or condition shall occur or exist with respect to a Plan; and in each case in clauses (i) through
(vii) above, such event or condition, together with all other such events or conditions, if any,
would be reasonably expected to result in liability which would have a Material Adverse Effect.

     (n) One or more judgments or decrees shall be entered against the Customer involving in the
aggregate at any time a liability (net of any insurance or indemnity payments actually received in
respect thereof prior to or within 60 days from the entry thereof, or to be received in respect
thereof in the event any appeal thereof shall be unsuccessful) equal to or in excess of $50,000,000
at all times until such judgments or decrees have been vacated, discharged, stayed or bonded
pending appeal; and all such judgments or decrees shall not have been vacated, discharged, stayed
or bonded pending appeal within 60 days from the entry thereof.

     (o) The Customer shall breach the covenant set forth in Section 7.12.

     (p) A Change of Control shall occur.

Article 11.

Remedies

11.01 Remedies. Upon the occurrence of an Event of Termination, WFBC may do any one or more of the
following:

     (a) Accelerate and declare immediately due and payable, any and all amounts payable by the
Customer to WFBC, whether mature, contingent or otherwise, whereupon all such amounts shall become
and be forthwith due and payable, without presentment, notice of dishonor, protest or further
notice of any kind, all of which the Customer hereby expressly waives.

     (b) Require the Customer to repurchase any and all Purchased Accounts, including the Related
Rights, whether disputed or undisputed, and to pay on demand the Repurchase Price for those
Purchased Accounts, including the Related Rights, as provided herein, and, in the event

37

 

the Repurchase Price is not paid in full on demand, WFBC or its designee may collect such
Purchased Accounts and charge a commercially reasonable fee in connection with such collection
activities in addition to any other fees or charges provided for herein.

     (c) Cease purchasing any Account under this Agreement.

     (d) Notify, or cause the Customer to notify, any Account Debtor or other Person obligated to
pay a Purchased Account that such right to payment has been sold, assigned and transferred to WFBC
and instruct, or cause the Customer to instruct, any Account Debtor or other Person to (i) make and
remit payments due under the Purchased Accounts and any Related Rights directly to a Lockbox or
(ii) deliver payments due under the Purchased Accounts and any Related Rights to WFBC by wire
transfer, ACH, or other means as WFBC may direct, in each case for deposit to the Collections
Account or for direct application to the amounts due and owing to WFBC.

     (e) Take possession of any Related Rights or Collateral, with or without judicial process.

     (f) Settle any disputed Purchased Account directly with the Account Debtor for any amount
without relieving the Customer of its obligations with respect to such Purchased Account under this
Agreement, grant extensions and compromise claims, all without prior notice to, or consent of,
Customer.

     (g) Require the Customer to assemble the Related Rights and the Collateral (other than
returned inventory and goods) and make them available to WFBC at a place designated by WFBC.

     (h) Require the Customer, at WFBC’s expense, to assemble the Collateral consisting of returned
inventory and goods, and make such Collateral available to WFBC at a place designated by WFBC.

     (i) Take possession of the Related Rights and Collateral, and enter and use the Customer’s
premises, at no cost to WFBC, only to hold, process, sell, use, store, liquidate, realize upon or
otherwise dispose of items that are Purchased Accounts, Related Rights or Collateral (other than
returned inventory and goods) and for other purposes that WFBC may in good faith deem to be
related or incidental purposes.

     (j) Use, solely in connection with any disposition or collection of the Purchased Accounts,
the Related Rights or the Collateral, any trademark, trade name, trade style, or copyright, used or
utilized by the Customer in generating such Purchased Accounts or Related Rights or with respect to
such Collateral.

     (k) Initiate electronic credit or debit entries through the ACH system to and from any Lockbox
Account or any other deposit account maintained by the Customer in which proceeds of the Collateral
are deposited.

     (l) Collect from the Customer all amounts due and owing to WFBC in connection with this
Agreement or any Transaction Agreement.

38

 

     (m) Exercise and enforce any and all rights and remedies available upon default to a secured
party under the Uniform Commercial Code in effect in New York, including the right to take
possession of the Purchased Accounts, the Related Rights and the Collateral, or any evidence
thereof, proceeding without judicial process or by judicial process (without a prior hearing or
notice thereof, which the Customer hereby expressly waives) and the right to sell, lease or
otherwise dispose of any or all of the Purchased Accounts, Related Rights and Collateral (with or
without giving any warranties as to the Purchased Accounts, Related Rights or Collateral, title to
the Purchased Accounts, Related Rights or Collateral or similar warranties).

     (n) Require the Customer to hold all Collections separate and apart from its general funds in
a segregated trust account for the benefit of WFBC, to invest all Collections so held as directed
by WFBC and to remit such amounts so held together with any interest thereon as directed by WFBC.

     (o) Without regard to any waste, adequacy of the security or solvency of the Customer, apply
for the appointment of a receiver of the Collateral, to which appointment the Customer hereby
consents, whether or not foreclosure proceedings have been commenced and whether or not a
foreclosure sale has occurred.

     (p) Take any action a replacement Servicer may take hereunder.

     (q) Exercise any other rights and remedies available to the Customer with respect to the
Purchased Accounts, the Related Rights or the Collateral.

     (r) Exercise any other rights and remedies available to it by law or agreement.

Notwithstanding the foregoing, upon the occurrence of an Event of Termination described in Section
10.01(f), amounts payable by the Customer to WFBC shall be immediately due and payable
automatically without presentment, demand, protest or notice of any kind.

11.02 Sale of Collateral. During the continuation of an Event of Termination, if WFBC sells any of
the Collateral on credit, the amounts payable to WFBC hereunder will be reduced only to the extent
of payments actually received. If the purchaser fails to pay for any Collateral, WFBC may resell
such Collateral and shall apply any proceeds actually received to the amounts payable by the
Customer to WFBC.

11.03 Certain Notices. During the continuation of an Event of Termination, if notice to the
Customer of any intended disposition of Purchased Accounts, Related Rights or Collateral or any
other intended action is required by law in a particular instance, such notice shall be deemed
commercially reasonable if given (in the manner specified in Section 12.18) at least ten calendar
days before the date of intended disposition or other action.

39

 

Article 12.

Miscellaneous Provisions

12.01 Binding on Future Parties.

     (a) Generally. This Agreement inures to the benefit of and is binding upon the successors and
permitted assigns of the parties hereto; provided, however that the Customer shall not assign its
rights hereunder or any interest herein without WFBC’s prior written consent which may be withheld
in its commercially reasonable sole discretion.

     (b) Assignees.

          (i) Subject to Section 12.01(b)(ii), WFBC (or any subsequent Assignee) may at any time sell to
one or more Eligible Institutions (each an “Assignee”) WFBC’s (or such subsequent Assignee’s)
interest, obligations and rights under this Agreement and the Transaction Agreements (each, an
“Assigned Interest”). Each Assignee shall assume such Assigned Interest pursuant to an Assignment
and Assumption Agreement.

          (ii) Upon the occurrence and during the continuation of an Event of Termination under
subsection (a), (b), (f), (i), (k) or (l) of Section 10.01 or upon the occurrence and during the
continuation of an Event of Termination resulting from the breach of Section 6.14, WFBC (or any
subsequent Assignee) may sell its interest, obligations and rights under this Agreement and the
Transaction Agreements pursuant to this Section 12.01(b) without the prior written consent of the
Customer. As long as no Event of Termination has occurred and is continuing under subsection (a),
(b), (f), (i), (k) or (l) of Section 10.01 or as a result of the breach of Section 6.14, WFBC (or
any subsequent Assignee) may sell its interest, obligations and rights under this Agreement and the
Transaction Agreements pursuant to this Section 12.01(b) only with the prior written consent of the
Customer, which consent may be withheld in the Customer’s sole discretion; provided however, that
the consent of the Customer will not be required for sales to any Affiliate of WFBC engaged in
business in addition to the transactions contemplated under this Agreement.

          (iii) Upon (A) execution of an Assignment and Assumption Agreement, (B) delivery by WFBC to
the Customer of an executed copy thereof, (C) payment by such Assignee to WFBC of an amount equal
to the purchase price agreed between WFBC and such Assignee and (D) if such Assignee is organized
under the laws of any jurisdiction other than the United States or any state thereof, evidence
reasonably satisfactory to the Customer of compliance with the provisions of Section 12.01(b)(iv),
such Assignee shall for all purposes be “WFBC” under this Agreement and shall have all the rights
and obligations of WFBC under this Agreement to the same extent as if it were an original party
hereto, and WFBC shall be released from its obligations hereunder and no further consent or action
by the Customer shall be required to effectuate such transfer. Each Assignee shall be bound by any
waiver, amendment or other decision that WFBC shall be required to abide by.

          (iv) If pursuant to this Section 12.01(b), WFBC’s interest in this Agreement is transferred to
an Assignee that is organized under the laws of any jurisdiction other than the United States or
any state thereof, WFBC shall cause such Assignee, concurrently with the

40

 

effectiveness of such transfer, (A) to represent to WFBC and the Customer that under
applicable law and treaties no taxes or only a reduced rate of withholding taxes will be required
to be withheld by the Customer or WFBC with respect to any payments to be made to such Assignee in
respect of the purchase of Accounts hereunder and (B) to furnish to WFBC and the Customer two duly
completed copies of the forms required by Section 12.20(d).

          (v) Notwithstanding any provision of this Section 12.01(b) to the contrary, WFBC may assign or
pledge any of its rights and interests in the Purchased Accounts to a Federal Reserve Bank without
the consent of the Customer.

          (vi) WFBC, acting solely in this respect as agent for the Customer, shall maintain a register
(the “Register”) for the recordation of the names and addresses of each assignment of an Assigned
Interest, and the obligations to and payments owing to each Assignee from time to time. WFBC shall
also keep a copy of each Assignment and Assumption Agreement effecting each such assignment. The
entries in the Register shall be conclusive, in the absence of manifest error, and the parties to
this Agreement shall treat each Person whose name is recorded in the Register as the owner of the
Assigned Interest recorded therein for the purposes of this Agreement. The failure to make any
such recordation, or any error in such recordation shall not affect the Customer’s obligations
under this Agreement. The Register and WFBC’s copies of each Assignment and Assumption Agreement
shall be available for inspection by the Customer at any reasonable time and from time to time upon
reasonable prior notice.

12.02 Participations. WFBC may sell to one or more Persons (each a “Participant”) participating
interests in the interests of WFBC hereunder. Upon each such sale, WFBC will notify the Customer
of the identity of the Participant. WFBC shall remain solely responsible for performing its
obligations hereunder, and the Customer shall continue to deal solely and directly with WFBC in
connection with WFBC’s rights and obligations hereunder. Each Participant shall be entitled to the
benefits of Section 12.07 and shall have the right of setoff through its participation in amounts
owing hereunder to the same extent as if it were WFBC.

12.03 Cumulative Rights. No failure or delay by WFBC in exercising any right, power or remedy
under this Agreement, any Related Document or any Related Right shall operate as a waiver thereof;
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 this Agreement,
any Related Document or any Related Right. The remedies provided herein are cumulative and not
exclusive of any remedies provided by law.

12.04 Setoff. WFBC may, from time to time only upon the occurrence and during the continuation of
an Event of Termination, in its commercially reasonable sole discretion and without demand or
notice to anyone, setoff any liability owed to the Customer by WFBC hereunder against any amounts
payable to WFBC by the Customer hereunder, whether or not due.

12.05 Waiver. Neither party may waive its rights and remedies unless the waiver is in writing and
signed by such party. A waiver of a right or remedy under this Agreement on one occasion is not a
waiver of the right or remedy on any subsequent occasion.

41

 

12.06 Failure to Perform. If the Customer or any Servicer, as the case may be, fails to perform
any of its agreements or obligations hereunder or under any Related Document or any Related Right,
WFBC may (but will not be required to) itself perform, or cause to be performed, such agreement or
obligation.

12.07 Indemnity.

     (a) In addition to the payment of expenses pursuant to Section 12.19, the Customer shall
indemnify, defend and hold harmless WFBC, and any of its participants, parent entities, subsidiary
entities, affiliated entities, successor entities, and all present and future officers, directors,
employees, attorneys and agents of the foregoing (the “Indemnitees”) from and against any and all
liabilities (other than tax liabilities subject to Section 12.20), losses, damages, penalties,
judgments, suits, claims, costs and expenses of any kind or nature whatsoever (including the
reasonable fees and disbursements of counsel) arising out of or otherwise relating to this
Agreement, any Transaction Agreement, the transactions contemplated hereby and thereby, any
Purchased Account, any Related Rights, any Collateral, any action taken or omitted by any of the
Indemnitees, any actions to be performed by the Customer hereunder or under any Transaction
Agreement, or in connection with any of the foregoing, any investigative, administrative or
judicial proceedings, whether or not such Indemnitee shall be designated a party thereto, which may
be imposed on, incurred by or asserted against any such Indemnitee, the purchase of Accounts, the
use or intended use of the proceeds of the payments made to the Customer, or any of the following
(collectively, “Indemnified Liabilities”):

          (i) any representation or warranty made or deemed to be made by the Customer in or in
connection with this Agreement or any Transaction Agreement, which was incorrect in any material
respect when made or deemed made or delivered;

          (ii) the failure of the Customer to perform or observe any of its covenants, duties or
obligations hereunder or under any of the Transaction Agreements;

          (iii) the failure by the Customer to comply with any applicable law, rule, regulation, order,
injunction, award or decree with respect to any Purchased Account or Related Rights, including any
applicable bulk sales legislation, or the nonconformity thereof with any applicable law, rule,
regulation, order, injunction, award or decree;

          (iv) the return or transfer by WFBC to the Customer of any payments received by WFBC pursuant
hereto to which WFBC is entitled pursuant to the terms of this Agreement or the remittance of any
Collections or other amounts to the Customer under Section 12.26(b).

          (v) any loss of a perfected Lien or ownership interest (or in the priority of such Lien or
ownership interest) as a result of the Customer acting as a custodian or Servicer or as a result of
any commingling by the Customer of funds to which WFBC is entitled hereunder with any other funds;

          (vi) any dilution, claims, disputes, damages, offsets, penalties, losses or defenses arising
from any Purchased Account or Related Rights or any claims, disputes, offsets or defenses in
connection with any merchandise or services which are the subject of the Related Rights, including
any product liability claim or personal injury or property damage suit

42

 

(provided, however, that nothing contained in this subsection shall limit the liability of the
Customer or limit the recourse of WFBC to the Customer for any amounts otherwise specifically
provided to be paid by the Customer hereunder);

          (vii) any failure of (a) any agreement with an Account Debtor to contain an enforceable right
of assignment and an express right to make information of such Account Debtor available to the
Customer’s assignees and their agents; and (b) the Customer to bring such rights to the attention
of the related Account Debtor in compliance with applicable law; and

          (viii) any claims, demands, expenses, loss or damage resulting from or growing out of honoring
or relying on the signature or other authority (whether or not properly used) of any officer or
person whose name and signature was certified pursuant to Section 9.08, or refusing to honor any
signature or authority not so certified.

Notwithstanding the foregoing, the Customer shall not be obligated to indemnify any Indemnitee for
(A) any Indemnified Liability caused directly by the gross negligence or willful misconduct of such
Indemnitee or (B) any overall net income taxes imposed on such Indemnitee by the jurisdiction under
the law of which such Indemnitee is organized or otherwise considered doing business or any
political subdivision thereof.

     (b) If any investigative, judicial or administrative proceeding arising from any of the
foregoing is brought against any Indemnitee, upon such Indemnitee’s request, the Customer and
counsel, designated by the Customer and satisfactory to the Indemnitee, will resist and defend such
action, suit or proceeding to the extent and in the manner directed by the Indemnitee, at the
Customer’s cost and expense. Each Indemnitee will use commercially reasonable efforts to cooperate
in the defense of any such action, suit or proceeding. If the foregoing undertaking to indemnify,
defend and hold harmless may be held to be unenforceable because it violates any law or public
policy, the Customer shall nevertheless make the maximum contribution to the payment and
satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

     (c) The obligations of the Customer under this Section 12.07 shall survive the termination of
this Agreement and the discharge of the other obligations of the Customer hereunder.

12.08 Increased Cost and Reduced Return. After the date of this Agreement, if the adoption of any
applicable law, rule or regulation, or any change therein, or any change in the interpretation or
administration thereof by any governmental authority charged with the interpretation or
administration thereof, or compliance by WFBC with any request or directive (whether or not having
the force of law) of any such governmental authority (a) subjects WFBC to any charge or withholding
on or in connection with this Agreement or any Related Document or any Purchased Account, (b)
changes the basis of taxation of payments to WFBC in respect of any amounts payable under this
Agreement or any Related Document (except for changes in the rate of tax on the overall net income
before tax of WFBC), (c) imposes, modifies or deems applicable any reserve, assessment, insurance
charge, special deposit or similar requirement against assets of, deposits with or for the account
of, or any credit extended by WFBC, (d) has the effect of reducing the rate of return on WFBC’s
capital to a level below that which WFBC could have achieved but for such adoption, change or
compliance (taking into consideration

43

 

WFBC’s policies concerning capital adequacy) or (e) imposes any other condition, and the result of
any of the foregoing is (x) to impose a cost on, or increase the cost to WFBC of its purchasing,
maintaining or funding any interest acquired under this Agreement or any Related Document, (y) to
reduce the amount of any sum received or receivable by, or to reduce the rate of return of WFBC
under this Agreement or any related transaction document or (z) to require any payment calculated
by reference to the amounts received by it hereunder, then, upon demand by WFBC, the Customer shall
pay to WFBC (with respect to amounts owed to it) such additional amounts as will compensate WFBC
for such increased cost or reduction. For avoidance of doubt, any interpretation of Accounting
Research Bulletin No. 51 by the Financial Accounting Standards Board shall constitute an adoption,
change, request or directive subject to this Section 12.08.

12.09 Choice of Law. This Agreement shall be governed by and construed in accordance with the laws
of the State of New York without giving effect to its conflicts of laws provisions, except with
respect to (a) Section 5-1401 of the New York General Obligations Law; and (b) the choice of laws
provisions of the Uniform Commercial Code as adopted in New York.

12.10 Invalid 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.

12.11 Entire Agreement. This Agreement, including all Exhibits hereto, together with the
Transaction Agreements, or any other document or agreement described in or related to this
Agreement, comprises the complete and integrated agreement of the parties on the subject matter of
this Agreement and supersedes all prior agreements, whether oral or in writing. All Exhibits
hereto are incorporated into this Agreement and made a part hereof.

12.12 Amendment. Except as otherwise provided herein, any addendum, amendment or modification
hereto must be signed by both parties.

12.13 Further Documents. The Customer, at its expense, will from time to time execute, deliver,
endorse and authorize the filing of any instruments, documents, conveyances, assignments, security
agreements, financing statements, control agreements and other agreements that WFBC may reasonably
request in order to secure, protect, perfect or enforce WFBC’s rights under this Agreement, the
Related Documents, the Related Rights or any other document or agreement described in or related to
this Agreement or its Lien in the Purchased Accounts, Related Rights and Collateral (but any
failure to request or assure that the Customer executes, delivers, endorses or authorizes the
filing of any such item shall not, in and of itself, affect or impair the validity, sufficiency or
enforceability of this Agreement, the Related Documents, the Related Rights or any other document
or agreement described in or related to this Agreement or WFBC’s Lien in the Purchased Accounts,
Related Rights and Collateral, regardless of whether any such item was or was not executed,
delivered or endorsed in a similar context or on a prior occasion).

12.14 Retention of Records. WFBC shall have no obligation to maintain electronic records or retain
any documents, schedules, invoices, agings, or other Records delivered to WFBC by the Customer in
connection with this Agreement or the Related Documents or any other document or

44

 

agreement described in or related to this Agreement for more than 30 days after receipt by WFBC.

12.15 Effective. This Agreement shall become effective when it is executed and delivered by an
authorized officer of each party. This Agreement may be executed in counterparts and each
counterpart shall constitute one and the same original. Manually executed counterparts of the
signature pages of this Agreement and any of its Exhibits may be delivered by the parties
electronically so long as transmitted pages are reproducible on paper medium upon receipt. Each
party is duly authorized to print any executed signature page so received and attach it to this
Agreement or a relevant Exhibit, as applicable, whereupon this Agreement or such Exhibit shall be
deemed to have been duly executed and delivered by the transmitting party and the paper copy of
this Agreement or such Exhibit assembled by the recipient with such signature page attached shall
be deemed an original for all purposes, absent manifest error or bad faith.

12.16 Data Transmission. WFBC assumes no responsibility for privacy or security risks as a result
of the method of data transmission selected by the Customer. WFBC only assumes responsibility for
data transmitted from the Customer once the data is received within WFBC’s internal network. WFBC
assumes no responsibility for privacy or security data transmitted from WFBC to the Customer once
the data is dispensed from WFBC’s internal network.

12.17 Confidential Information. The Customer agrees that Wells Fargo & Co. and any direct and
indirect Subsidiaries of Wells Fargo & Co., may, among themselves, discuss or otherwise utilize any
and all information (including Confidential Information) they may have in their possession
regarding the Customer and its Affiliates, and the Customer waives any right of confidentiality it
may have with respect to such exchange of such information. Except as provided in the preceding
sentence, WFBC covenants and agrees to hold this Agreement, the Transaction Agreements and other
nonpublic information regarding the Customer, its Affiliates, and their respective businesses
(collectively, “Confidential Information”) in confidence, and agrees not to use and not to disclose
any of the contents of, provide any Person with copies of, or use for any purpose not related to
the purchases made hereunder, any Confidential Information other than disclosure to (a) Wells Fargo
& Co., any direct or indirect Subsidiaries of Wells Fargo & Co. (including WFBC) or any officers,
directors, members, managers, employees or outside accountants, auditors or attorneys of Wells
Fargo & Co. or such Subsidiaries (the “Wells Receivers”), (b) any prospective or actual Assignee,
syndication parties or participants, (c) any rating agency of WFBC and (d) governmental authorities
with appropriate jurisdiction over WFBC; provided that each such Person is informed of the
confidential nature of the Confidential Information, and has agreed to treat the Confidential
Information as confidential in accordance with terms and conditions no less protective than as set
forth in this Section 12.17. Notwithstanding the above stated obligations, no Person will be
liable for disclosure or use of Confidential Information which (i) was required by law, including
pursuant to a subpoena or other legal process, (ii) was in such Person’s possession or known to
such Person prior to receipt in connection with purchases made hereunder, (iii) is or becomes known
to the public (without breach of any obligations hereunder), (iv) is or becomes available to such
Person from a source, other than a Wells Receiver, which is not known to such Person to be under an
obligation of confidentiality to the Customer; or (v) is independently developed by such Person
without the use of the Confidential Information. Notwithstanding any provision hereof to the
contrary, WFBC covenants and agrees that it shall not use the name of the Customer or any Affiliate
of the

45

 

Customer, or any trademarks, trade names or service marks of the Customer or any Affiliate of the
Customer, or quote the opinion of any employee of the Customer or any Affiliate of the Customer, in
any advertising or marketing material (including press releases) without first obtaining the prior
written consent of an officer of the Company or such Affiliate, as applicable.

12.18 Notices Hereunder. Except as otherwise expressly provided herein, all notices, requests,
demands and other communications provided for under this Agreement shall be in writing and shall be
(a) personally delivered, (b) sent by first class United States mail, (c) sent by overnight courier
of national reputation for which a receipt is available, (d) transmitted by telecopy, or (e) sent
as electronic mail, in each case delivered or sent to the party to whom notice is being given to
the business address, telecopier number, or e-mail address set forth below next to its signature
or, as to each party, at such other business address, telecopier number, or e-mail address as it
may hereafter designate in writing to the other party pursuant to the terms of this Section 12.18.
If a notice of an Event of Termination is sent by first class United States mail, it shall also be
(a) personally delivered, (b) sent by overnight courier of national reputation for which a receipt
is available, (c) transmitted by telecopy, or (d) sent as electronic mail, in each case pursuant to
the terms of this Section 12.18. All such notices, requests, demands and other communications
shall be deemed to be an authenticated record communicated or given on (w) the date received if
personally delivered, (x) five days after the date deposited in the mail if delivered by mail, (y)
the date delivered to the courier if delivered by overnight courier, or (z) the date of
transmission if sent by confirmed telecopy or e-mail. All notices, financial information, or other
business records sent by any party to this Agreement may be transmitted, sent, or otherwise
communicated via such medium as the sending party may deem appropriate and commercially reasonable;
provided, however, that the risk that the confidentiality or privacy of such notices, financial
information, or other business records sent by any party may be compromised shall be borne
exclusively by the Customer.

12.19 Costs and Expenses. Except as is prohibited by law, the Customer agrees to pay on demand all
costs and expenses, including reasonable attorneys’ fees (including in-house counsel), incurred by
WFBC in connection with this Agreement, any other Related Document, the Related Rights and the
transactions contemplated hereby and thereby, including all such costs, expenses and fees incurred
in connection with the negotiation, due diligence, preparation, execution, amendment, modification,
administration, performance, collection and enforcement of this Agreement, the Related Documents,
the Related Rights, all obligations of the Customer hereunder and thereunder and the creation,
perfection, protection, satisfaction, foreclosure or enforcement of any security interest granted
hereunder and the collection of any Purchased Account, any Related Right or any obligation owed by
the Customer to WFBC. If the Customer fails to pay such costs and expenses upon demand, the
Customer agrees to pay interest on such amounts at a rate equal to the LIBOR plus five and three
quarters of one percent (5.75%) per annum calculated daily.

12.20 Taxes.

     (a) Except as otherwise provided in this Section 12.20, any and all payments made by the
Customer hereunder shall be made free and clear and without deductions for or on account of any
present or future U.S., foreign, federal, provincial, state, municipal, local or other taxes of any
kind or nature whatsoever, including, without limitation, any capital, income, sales, excise,

46

 

business, property, stamp, documentary, customs, imposts, deductions, charges or withholdings,
and all liabilities with respect thereto (excluding taxes that are imposed on WFBC’s overall net
income or gross receipts by any taxing authority) (all such non-excluded taxes, levies, imposts,
deductions, charges, withholdings and liabilities of any kind or nature whatsoever and interest,
penalties and additions to tax in respect thereof (excluding than those resulting from WFBC’s gross
negligence or willful misconduct) being hereinafter referred to as “Taxes”). If any such
withholdings or deductions are so required, (i) the sum payable hereunder shall be increased as may
be necessary so that after all required deductions are taken into account (including any required
with respect to payments made pursuant to this Section 12.20(a)), WFBC shall receive an amount
equal to the sum it would have received had no such deduction been made, (ii) the Customer shall
make such deductions and (iii) the Customer shall pay the full amount deducted to the appropriate
authority before penalties attach thereto or interest accrues thereon. If the Customer pays any
such Taxes, it shall deliver official tax receipts evidencing that payment or certified copies
thereof to WFBC on or before the thirtieth day after payment.

     (b) In addition, the Customer shall pay any present or future U.S., foreign, federal,
provincial, state, municipal, local or other taxes of any kind or nature whatsoever, including,
without limitation, any capital, income, sales, excise, business, property, stamp, documentary,
customs, imposts, deductions, charges or withholdings, and all liabilities and interest, penalties
and additions to tax in respect thereof imposed by any taxing authority (other than taxes that are
imposed on WFBC’s overall net income or gross receipts by any taxing authority) that arises from
any payment made hereunder, under any Transaction Agreement or from any payments from Collections
hereunder, or from the proceeds of the sale of any Purchased Account or Related Right or any
withholding or deduction by an Account Debtor (hereinafter referred to as “Other Taxes”).

     (c) Except as otherwise provided in this Section 12.20, the Customer shall indemnify WFBC for
and hold it harmless against the full amount of the Taxes and Other Taxes paid by WFBC on account
of any transaction contemplated by this Agreement or any Transaction Agreement or the purchase of
the Purchased Accounts and the Related Rights, provided WFBC shall first provide the Customer with
reasonable documentary evidence that such taxes or payments are due and owing or have been paid by
WFBC.

     (d) WFBC shall, on or prior to the date of its execution and delivery of this Agreement,
provide the Customer with two original Internal Revenue Service forms W-9 (or substitute or
successor forms). Any Assignee shall provide Customer with two original Internal Revenue Service
forms W-8 or W-9 (or substitute or successor forms), as applicable.

     (e) If the form, certificates or documents provided by an Assignee at the time such Assignee
first becomes a party to this Agreement indicate a United States interest withholding tax rate in
excess of zero, withholding tax at such rate shall be considered excluded from Taxes unless and
until such Assignee provides the appropriate forms, certificates or documents certifying that a
lesser rate applies, whereupon withholding tax at such lesser rate only shall be considered
excluded from Taxes for periods governed by such forms, certificates or documents; provided,
however, that if, at the effective date of the assignment, WFBC was entitled to payments under
Section 12.20(a) in respect of United States withholding tax with respect to amounts paid hereunder
at such date, then, to such extent, the term Taxes shall include (in

47

 

addition to withholding taxes that may be imposed in the future or other amounts otherwise
includable in Taxes) United States withholding tax, if any, applicable with respect to such
Assignee on such date.

12.21 Income Tax Treatment. WFBC and the Customer agree, and any Assignees are deemed to agree, to
treat the beneficial interests of WFBC hereunder as debt instruments for United States federal
income tax purposes.

12.22 Prohibited Rate. In no event shall any interest or fee to be paid hereunder exceed the
maximum rate permitted by applicable law. In the event any such interest rate or fee exceeds such
maximum rate, such rate shall be adjusted downward to the highest rate (expressed as a percentage
per annum) or fee that the parties could validly have agreed to by contract on the date hereof
under applicable law. It is further agreed that any excess actually received by WFBC shall be
credited against any amount owing hereunder.

12.23 Jurisdiction. The parties hereby (a) consent to the personal jurisdiction of (i) the United
States District Court, Southern District of New York, and any appellate court from which any
appeals therefrom are available and (ii) the courts of the State of New York sitting in the City of
New York, County of New York and any appellate court from which any appeals therefrom are
available, in connection with any controversy related to this Agreement or any Related Document;
(b) waive any argument that venue in any such forum is not convenient; (c) agree that any
litigation initiated by WFBC or the Customer in connection with this Agreement or any Related
Document may be venued in either the United States District Court, Southern District of New York or
the courts of the State of New York sitting in the City of New York, County of New York; and (d)
agree that a non-appealable 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.

12.24 Negotiations. The parties agree that this Agreement has been mutually negotiated at arm’s
length by both of them with benefit of legal counsel and such other advice as they deemed
appropriate and no provision hereof is to be construed more severely against one of the parties
than it is to be construed against the other based on the party responsible for the drafting
thereof.

12.25 USA PATRIOT Act Notice. WFBC hereby notifies the Customer that pursuant to the requirements
of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), it is
required to obtain, verify and record information that identifies the Customer, which information
includes the name and address of the Customer and other information that will allow WFBC to
identify the Customer in accordance with the USA Patriot Act (Title III of Pub. L. 107-56 (signed
into law October 26, 2001)).

12.26 Termination.

     (a) This Agreement shall terminate on the first date following the Termination Date when the
Purchased Amount has reduced to zero, all other amounts due to WFBC under this Agreement and under
each Transaction Agreement have been indefeasibly paid in full, WFBC has no further obligations
hereunder or under any Transaction Agreement and all obligations of the Customer to WFBC hereunder
and under each Transaction Agreement have been satisfied, in

48

 

each case as determined by WFBC in its commercially reasonable sole discretion (the “Final
Termination Date”).

     (b) Any further or additional Collections and other amounts received in respect of the
Collateral after the Final Termination Date shall be remitted to the Customer unless otherwise
required by applicable law.

12.27 Terms Generally. Defined terms include in the singular number the plural and in the plural
number the singular. The use of the singular or the plural number shall be deemed to include the
use of the other when the context so requires. Whenever the context require, any pronoun shall
include the corresponding masculine, feminine and neuter forms. The words “include”, “includes”
and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will”
shall be construed to have the same meaning and effect as the word “shall”. Unless the context in
which used herein otherwise clearly requires, “or” has the inclusive meaning represented by the
phrase “and/or”. Unless the context requires otherwise, (a) any definition of or reference to any
agreement, instrument or other document herein shall be construed as referring to such agreement,
instrument or other document as from time to time amended, supplemented or otherwise modified
(subject to any restrictions on such amendments, supplements or modifications set forth herein),
(b) any reference herein to any Person shall be construed to include such Person’s successors and
permitted assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar import
shall be construed to refer to this Agreement in its entirety and not to any particular provision
hereof, (d) all references herein to Articles, Sections, subsections, Exhibits, Schedules and the
like shall be construed to refer to Articles, Sections and subsections of, or Exhibits or Schedules
attached to, this Agreement unless otherwise expressly provided and (e) all references herein to
Articles, Sections, subsections and the like shall be construed to include therein references to
all Sections and subsections thereof unless otherwise expressly provided. Article and Section
headings in this Agreement are for reference only and shall not affect the construction of this
Agreement. Reference to any law, rule, regulation, order, decree, requirement, policy, guideline,
directive or interpretation means as amended, modified, codified, replaced or reenacted, in whole
or in part, and in effect on the determination date, including rules and regulations promulgated
thereunder. All accounting terms not otherwise defined herein have the meanings assigned to them
in accordance with generally accepted accounting principles. As used herein, a determination made
in WFBC’s “commercially reasonable sole discretion” shall mean a determination made in WFBC’s sole
discretion exercised in good faith using reasonable (from the point of view of a secured factor)
business judgment.

[This space intentionally left blank.]

49

 

12.28 WAIVER OF JURY TRIAL. EACH OF THE CUSTOMER AND WFBC HEREBY IRREVOCABLY WAIVES ANY RIGHT TO
TRIAL BY JURY IN ANY ACTION AT LAW OR IN EQUITY OR IN ANY OTHER PROCEEDING BASED ON OR PERTAINING TO
THIS AGREEMENT OR ANY TRANSACTION AGREEMENT.

	 	 	 	 	 	 	 	 	 	 	 
	MARTIN MARIETTA MATERIALS, INC.	 	 	 	WELLS FARGO BANK, NATIONAL	 	 
	 	 	 	 	 	 	ASSOCIATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Anne H. Lloyd
	 	 	 	By:
	 	/s/ Jason F. Bush	 	 
	 

	 	 

Name: Anne H. Lloyd
	 	 
	 	 	 	 

Name: Jason F. Bush
	 	 
	 

	 	Its: Chief Financial Officer
	 	 	 	 	 	Its: Vice President	 	 

The Customer and WFBC have executed this Agreement through their authorized officers as of the date
set forth above.

	 	 	 	 	 	 	 	 	 
	Wells Fargo Bank, National Association	 	 	 	WELLS FARGO BANK, NATIONAL	 	 
	MAC C7300-060	 	 	 	ASSOCIATION	 	 
	1740 Broadway, 6th Floor
	 	 	 	 	 	 	 	 
	Denver, CO 80274
	 	 	 	 	 	 	 	 
	Telecopier: (303) 433-2540

	 	 	 	By:
	 	/s/ Jason F. Bush	 	 
	 Attention:
Jennifer L. Daily

	 	 
	 	 	 	 

Name: Jason F. Bush
	 	 
	Email: Jennifer.l.daily@wellsfargo.com

	 	 	 	 	 	Its: Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	Martin Marietta Materials, Inc.

	 	 	 	MARTIN MARIETTA MATERIALS, INC.	 	 
	2710 Wycliff Road
	 	 	 	 	 	 	 	 
	Raleigh, NC 27607
	 	 	 	 	 	 	 	 
	Telecopier: 919-788-4372

	 	 	 	By:
	 	/s/ Anne H. Lloyd	 	 
	 Attention:
Byron Creech, Assistant Treasurer

	 	 	 	 	 	 

Name: Anne H. Lloyd	 	 
	Email: byron.creech@martinmarietta.com

	 	 	 	 	 	Its: Chief Financial Officer	 	 

Signature Page to Account Purchase AgreementEX-10.02

EXHIBIT 10.02

$130,000,000

TERM LOAN AGREEMENT

dated as of

APRIL 23, 2009

among

MARTIN MARIETTA MATERIALS, INC.,

The LENDERS Listed Herein,

SUNTRUST BANK,

as Administrative Agent,

and

BRANCH BANKING & TRUST COMPANY

as Syndication Agent

and

NORTHERN TRUST COMPANY

as Documentation Agent

 

SUNTRUST ROBINSON HUMPHREY, INC.,

Lead Arranger and Sole Bookrunner

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE 1 DEFINITIONS	 	 	1	 
	 
	 	 	 	 	 	 
	Section 1.01.
	 	Definitions	 	 	1	 
	Section 1.02.
	 	Accounting Terms and Determinations	 	 	10	 
	Section 1.03.
	 	Types of Borrowings	 	 	11	 
	 
	 	 	 	 	 	 
	ARTICLE 2 THE LOANS	 	 	11	 
	 
	 	 	 	 	 	 
	Section 2.01.
	 	Loans	 	 	11	 
	Section 2.02.
	 	Funding of Loans	 	 	11	 
	Section 2.03.
	 	Registry; Notes	 	 	12	 
	Section 2.04.
	 	Maturity of Loans	 	 	12	 
	Section 2.05.
	 	Interest Rates	 	 	13	 
	Section 2.06.
	 	Optional Prepayments	 	 	14	 
	Section 2.07.
	 	General Provisions as to Payments	 	 	14	 
	Section 2.08.
	 	Method of Electing Interest Rates	 	 	15	 
	Section 2.09.
	 	Funding Losses	 	 	16	 
	Section 2.10.
	 	Computation of Interest and Fees	 	 	16	 
	Section 2.11.
	 	Increased Commitments; Additional Lenders	 	 	16	 
	 
	 	 	 	 	 	 
	ARTICLE 3 CONDITIONS	 	 	18	 
	 
	 	 	 	 	 	 
	Section 3.01.
	 	Effectiveness	 	 	18	 
	 
	 	 	 	 	 	 
	ARTICLE 4 REPRESENTATIONS AND WARRANTIES	 	 	19	 
	 
	 	 	 	 	 	 
	Section 4.01.
	 	Corporate Existence and Power	 	 	19	 
	Section 4.02.
	 	Corporate Authorization; No Contravention	 	 	19	 
	Section 4.03.
	 	Binding Effect	 	 	19	 
	Section 4.04.
	 	Financial Information	 	 	19	 
	Section 4.05.
	 	Litigation	 	 	20	 
	Section 4.06.
	 	Taxes	 	 	20	 
	Section 4.07.
	 	Margin Regulations	 	 	20	 
	Section 4.08.
	 	Compliance with Laws	 	 	20	 
	Section 4.09.
	 	Governmental Approvals	 	 	20	 
	Section 4.10.
	 	Pari Passu Obligations	 	 	20	 
	Section 4.11.
	 	No Defaults	 	 	20	 
	Section 4.12.
	 	Full Disclosure	 	 	20	 
	Section 4.13.
	 	ERISA	 	 	21	 
	Section 4.14.
	 	Environmental Matters	 	 	21	 
	Section 4.15.
	 	Regulatory Restrictions on Borrowing	 	 	21	 
	 
	 	 	 	 	 	 
	ARTICLE 5 COVENANTS	 	 	21	 
	 
	 	 	 	 	 	 
	Section 5.01.
	 	Information	 	 	21	 
	Section 5.02.
	 	Payment of Obligations	 	 	23	 
	Section 5.03.
	 	Insurance	 	 	23	 
	Section 5.04.
	 	Maintenance of Existence	 	 	23	 

i

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 5.05.
	 	Maintenance of Properties	 	 	23	 
	Section 5.06.
	 	Compliance with Laws	 	 	23	 
	Section 5.07.
	 	Mergers, Consolidations and Sales of Assets	 	 	24	 
	Section 5.08.
	 	Negative Pledge	 	 	24	 
	Section 5.09.
	 	Leverage Ratio	 	 	26	 
	Section 5.10.
	 	Use of Loans	 	 	26	 
	Section 5.11.
	 	Investments	 	 	26	 
	Section 5.12.
	 	Transactions with Affiliates	 	 	27	 
	 
	 	 	 	 	 	 
	ARTICLE 6 DEFAULTS	 	 	27	 
	 
	 	 	 	 	 	 
	Section 6.01.
	 	Event of Default	 	 	27	 
	 
	 	 	 	 	 	 
	ARTICLE 7 THE ADMINISTRATIVE AGENT	 	 	29	 
	 
	 	 	 	 	 	 
	Section 7.01.
	 	Appointment and Authorization	 	 	29	 
	Section 7.02.
	 	Administrative Agent and Affiliates	 	 	30	 
	Section 7.03.
	 	Action by Administrative Agent	 	 	30	 
	Section 7.04.
	 	Consultation with Experts	 	 	30	 
	Section 7.05.
	 	Liability of Administrative Agent	 	 	30	 
	Section 7.06.
	 	Indemnification	 	 	30	 
	Section 7.07.
	 	Credit Decision	 	 	31	 
	Section 7.08.
	 	Successor Administrative Agents	 	 	31	 
	Section 7.09.
	 	Administrative Agent’s Fees	 	 	31	 
	Section 7.10.
	 	Other Agents	 	 	31	 
	 
	 	 	 	 	 	 
	ARTICLE 8 CHANGE IN CIRCUMSTANCES	 	 	31	 
	 
	 	 	 	 	 	 
	Section 8.01.
	 	Increased Cost and Reduced Return; Capital Adequacy	 	 	31	 
	Section 8.02.
	 	Substitute Rate	 	 	32	 
	Section 8.03.
	 	Illegality	 	 	33	 
	Section 8.04.
	 	Taxes on Payments	 	 	33	 
	 
	 	 	 	 	 	 
	ARTICLE 9 MISCELLANEOUS	 	 	35	 
	 
	 	 	 	 	 	 
	Section 9.01.
	 	Termination of Commitment of a Lender; New Lenders	 	 	35	 
	Section 9.02.
	 	Notices	 	 	36	 
	Section 9.03.
	 	No Waivers	 	 	36	 
	Section 9.04.
	 	Expenses; Indemnification	 	 	37	 
	Section 9.05.
	 	Pro Rata Treatment	 	 	37	 
	Section 9.06.
	 	Sharing of Set-offs	 	 	37	 
	Section 9.07.
	 	Amendments and Waivers	 	 	37	 
	Section 9.08.
	 	Successors and Assigns; Participations; Novation	 	 	38	 
	Section 9.09.
	 	Visitation	 	 	40	 
	Section 9.10.
	 	Collateral	 	 	41	 
	Section 9.11.
	 	Reference Banks	 	 	41	 
	Section 9.12.
	 	Governing Law; Submission to Jurisdiction	 	 	41	 
	Section 9.13.
	 	Counterparts; Integration	 	 	41	 
	Section 9.14.
	 	WAIVER OF JURY TRIAL	 	 	41	 
	Section 9.15.
	 	Confidentiality	 	 	41	 
	Section 9.16.
	 	USA Patriot Act	 	 	42	 

ii

 

	 	 	 	 	 
	COMMITMENT SCHEDULE	 	 
	 
	 	 	 	 
	SCHEDULE I

	 	—
	 	Pricing
	SCHEDULE 5.11(c)

	 	—
	 	Investments
	SCHEDULE 5.11(d)

	 	—
	 	Related Businesses
	 
	 	 	 	 
	EXHIBIT A

	 	—
	 	Assignment and Assumption Agreement
	EXHIBIT B

	 	—
	 	Compliance Certificate

iii

 

TERM LOAN AGREEMENT

     AGREEMENT dated as of April 23, 2009 among MARTIN MARIETTA MATERIALS, INC., the LENDERS listed
on the signature pages hereof and SUNTRUST BANK, as Administrative Agent, BRANCH BANKING & TRUST
COMPANY, as Syndication Agent and NORTHERN TRUST COMPANY, as Documentation Agent.

WITNESSETH:

     WHEREAS, the Borrower has requested that the Lenders make term loans in an aggregate principal
amount up to $130,000,000 to the Borrower;

     WHEREAS, subject to the terms and conditions of this Agreement, the Lenders are willing
severally to make such term loans to the Borrower;

     NOW, THEREFORE, the parties hereto agree as follows:

ARTICLE 1

Definitions

     Section 1.01. Definitions. The following terms, as used herein and in any Exhibit or Schedule
hereto, have the following meanings:

     “Additional Lender” has the meaning set forth in Section 2.12(b).

     “Administrative Agent” means SunTrust Bank, in its capacity as administrative Agent for the
Lenders hereunder, and its successors in such capacity.

     “Administrative Questionnaire” means, with respect to each Lender, an administrative
questionnaire in the form prepared by the Administrative Agent and submitted to the Administrative
Agent with a copy to the Borrower duly completed by such Lender.

     “Affiliate” means (i) any Person that directly, or indirectly through one or more
intermediaries, controls the Borrower (a “Controlling Person”) or (ii) any Person (other than the
Borrower or a Subsidiary) which is controlled by or is under common control with a Controlling
Person. As used herein, the term “control” means possession, directly or indirectly, of the power
to vote 10% or more of any class of voting securities of a Person or to direct or cause the
direction of the management or policies of a Person, whether through the ownership of voting
securities, by contract or otherwise.

     “Agents” means the Administrative Agent, the Syndication Agent and the Documentation Agent.

     “Agreement” means this Term Loan Agreement dated as of April 23, 2009.

     “Applicable Lending Office” means, with respect to any Lender, (i) in the case of its Base
Rate Loans, its Domestic Lending Office and (ii) in the case of its Euro-Dollar Loans, its
Euro-Dollar Lending Office.

 

 

     “Assignee” has the meaning set forth in Section 9.08(c).

     “Assignment and Assumption Agreement” means an agreement, substantially in the form of Exhibit
A hereto, under which an interest of a Lender hereunder is transferred to an Assignee pursuant to
Section 9.08(c) hereof.

     “Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate
in effect on such day, (b) the Federal Funds Rate in effect on such day plus 1/2 of 1%
and (c) the London Interbank Offered Rate for a one month Interest Period on such day (or if such
day is not a Euro-Dollar Business Day, the immediately preceding Euro-Dollar Business Day) plus 1%,
provided that for the avoidance of doubt, such London Interbank Offered Rate for any day shall be
based on the rate appearing on the Reuters BBA Libor Rates Page 3750 (or on any successor or
substitute page of such page) at approximately 11:00 A.M., London time, on such day. Any change in
the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective from
and including the effective date of such change in the Prime Rate or the Federal Funds Rate,
respectively.

     “Base Rate Loan” means a Loan which bears interest at the Base Rate pursuant to the applicable
Notice of Interest Rate Election or Article 8.

     “Base Rate Margin” means the percentage determined in accordance with the Pricing Schedule.

     “Borrower” means Martin Marietta Materials, Inc., a North Carolina corporation.

     “Change in Law” means, for purposes of Section 8.01 and Section 8.03, the adoption of any
applicable law, rule or regulation, or any change therein, or any change in the interpretation or
administration thereof by any governmental authority, central bank or comparable agency charged
with the interpretation or administration thereof, or compliance by any Lender with any request or
directive (whether or not having the force of law) of any such authority, central bank or
comparable agency.

     “Commitment” means (i) with respect to each Lender listed on the Commitment Schedule, the
amount set forth opposite the name of such Lender on the Commitment Schedule and (ii) with respect
to each Additional Lender or Assignee which becomes a Lender pursuant to Section 2.11 or 9.08(c),
the amount of the Commitment thereby assumed by it, in each case as such amount may be changed from
time to time pursuant to Section 2.06, 2.11 or 9.08(c).

     “Commitment Schedule” means the Commitment Schedule attached hereto.

     “Consolidated Debt” means at any date the Debt of the Borrower and its Consolidated
Subsidiaries, determined on a consolidated basis as of such date.

     “Consolidated EBITDA” means, for any period, net income (or net loss) (before discontinued
operations) plus the sum of (a) consolidated interest expense, (b) income tax expense, (c)
depreciation expense, (d) amortization expense, (e) depletion expense, (f) stock based compensation
expense and (g) any non-cash losses or expenses from any unusual, extraordinary or otherwise
non-recurring items as reasonably determined by the Borrower, and

2

 

minus (x) consolidated interest income and (y) the sum of the amounts for such period of any
income tax benefits and any income or gains from any unusual, extraordinary or otherwise
non-recurring items as reasonably determined by the Borrower, in each case determined on a
consolidated basis for the Borrower and its Subsidiaries in accordance with GAAP and in the case of
items (a) through (g) and items (x) and (y), to the extent such amounts were included in the
calculation of net income. For the purpose of calculating Consolidated EBITDA for any period, if
during such period the Borrower or any Subsidiary shall have made an acquisition or a disposition,
Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto as if
such acquisition or disposition, as the case may be, occurred on the first day of such period.

     “Consolidated Net Worth” means at any date the consolidated shareholders’ equity of the
Borrower and its Consolidated Subsidiaries which would be reported on the consolidated balance
sheet of the Borrower as total shareholders’ equity, determined as of such date.

     “Consolidated Subsidiary” means at any date any Subsidiary or other entity the accounts of
which would be consolidated with the Borrower in its consolidated financial statements if such
statements were prepared as of such date.

     “Credit Exposure” means, with respect to any Lender at any time, the sum of the aggregate
principal amount of its Loans at such time.

     “Debt” of any Person means at any date, without duplication, (i) all obligations of such
Person for borrowed money, (ii) all obligations of such Person evidenced by bonds, debentures,
notes or other similar instruments, including any repurchase obligation or liability of such Person
with respect to assets or receivables sold by such Person, (iii) all obligations of such Person to
pay the deferred purchase price of property, except trade accounts payable arising in the ordinary
course of business, (iv) all obligations of such Person as lessee which are capitalized in
accordance with generally accepted accounting principles, (v) all non-contingent obligations of
such Person to reimburse any bank or other Person in respect of amounts paid under a letter of
credit, banker’s acceptance, bank guarantee or similar instrument which remain unpaid for two
Business Days, (vi) all Debt secured by a Lien on any asset of such Person, whether or not such
Debt is otherwise an obligation of such Person provided that the amount of such Debt which is not
otherwise an obligation of such Person shall be deemed to be the fair market value of such asset,
and (vii) all Debt of others guaranteed by such Person.

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

     “Defaulting Lender” means, at any time, a Lender as to which the Administrative Agent has
notified the Borrower that (i) such Lender has failed for three or more business days to comply
with its obligations under this Agreement to continue a Euro-Dollar Borrowing or to convert a Base
Rate Borrowing to a Euro-Dollar Borrowing (each a “funding obligation”), (ii) such Lender
has notified the Administrative Agent, or has stated publicly, that it will not comply with any
such funding obligation hereunder, (iii) such Lender has, for three or more business days, failed
to confirm in writing to the Administrative Agent, in response to a written request of

3

 

the Administrative Agent, that it will comply with its funding obligations hereunder, or (iv)
a Lender Insolvency Event has occurred and is continuing with respect to such Lender. Any
determination that a Lender is a Defaulting Lender under clauses (i) through (iv) above for
purposes of Section 9.07 will be made by the Administrative Agent in its sole discretion acting in
good faith. The Administrative Agent will promptly send to all parties hereto a copy of any notice
to the Borrower provided for in this definition.

     “Derivatives Obligations” of any Person means all obligations of such Person in respect of any
rate swap transaction, basis swap, forward rate transaction, commodity swap, commodity option,
equity or equity index swap, equity or equity index option, bond option, interest rate option,
foreign exchange transaction, cap transaction, floor transaction, collar transaction, currency swap
transaction, cross-currency rate swap transaction, currency option or any other similar transaction
(including any option with respect to any of the foregoing transactions) or any combination of the
foregoing transactions.

     “Documentation Agent” means Northern Trust Company, in its capacity as documentation agent in
respect of this Agreement.

4

 

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

     “Domestic Business Day” means any day except a Saturday, Sunday or other day on which
commercial banks in New York City are authorized by law to close.

     “Domestic Lending Office” means, as to each Lender, its office located at its address set
forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its
Domestic Lending Office) or such other office as such Lender may hereafter designate as its
Domestic Lending Office by notice to the Borrower and the Administrative Agent.

     “Effective Date” means the date this Agreement becomes effective in accordance with Section
3.01.

     “Eligible Institution” means any commercial bank having total assets in excess of
$3,000,000,000 (or the equivalent amount in the local currency of such bank) as determined by the
Administrative Agent based on its most recent publicly available financial statements of such bank.

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

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

     “ERISA Group” means the Borrower and all members of a controlled group of corporations and all
trades or businesses (whether or not incorporated) under common control that, together with the
Borrower, are treated as a single employer under Section 4001(a)(14) of ERISA.

     “Euro-Dollar Business Day” means any Domestic Business Day on which commercial banks are open
for international business (including dealings in dollar deposits) in London.

     “Euro-Dollar Lending Office” means, as to each Lender, its office, branch or affiliate located
at its address set forth in its Administrative Questionnaire (or identified in its Administrative
Questionnaire as its Euro-Dollar Lending Office) or such other office, branch or affiliate of such
Lender as it may hereafter designate as its Euro-Dollar Lending Office by notice to the Borrower
and the Administrative Agent.

     “Euro-Dollar Loan” means any Loan in respect of which interest is to be computed on the basis
of a Euro-Dollar Rate.

5

 

     “Euro-Dollar Margin” means the percentage determined in accordance with the Pricing Schedule.

     “Euro-Dollar Rate” means a rate of interest determined pursuant to Section 2.05(b) on the
basis of an London Interbank Offered Rate.

     “Event of Default” has the meaning set forth in Section 6.01.

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

     “Existing Agreement” means that certain Second Amended and Restated Credit Agreement dated as
of October 24, 2008 among the Borrower, JPMorgan Chase Bank, N.A., as administrative agent and the
lenders from time to time party thereto.

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

     “Governmental Authority” means any nation or government, any state or other political
subdivision thereof, any central bank (or similar monetary or regulatory authority) thereof, any
entity exercising executive, legislative, judicial, regulatory or administrative functions of or
pertaining to government and any corporation or other entity owned or controlled, through stock or
capital ownership or otherwise, by any of the foregoing.

     “Interest Period” means:

     (1) with respect to each Euro-Dollar Loan, the period commencing on the date of borrowing
specified in the applicable Notice of Interest Rate Election and ending one, two, three or six
months thereafter, as the Borrower may elect in the applicable notice; provided that:

     (a) any Interest Period which would otherwise end on a day which is not a Euro-Dollar
Business Day shall be extended to the next succeeding Euro-Dollar Business Day unless such
Euro-Dollar Business Day falls in another calendar month, in which case such Interest Period
shall end on the next preceding Euro-Dollar Business Day; and

     (b) any Interest Period which begins on the last Euro-Dollar Business Day of a calendar
month (or on a day for which there is no numerically corresponding day in the calendar month
at the end of such Interest Period) shall, subject to the further proviso below, end on the
last Euro-Dollar Business Day of a calendar month;

6

 

provided further that any Interest Period which would otherwise end after the Termination Date
shall end on the Termination Date.

     “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended, or any successor
statute.

     “Investment” means any investment in any Person, whether by means of share purchase, capital
contribution, loan, guarantee, time deposit or otherwise (but not including any demand deposit).

     “Lender” means (i) each Person listed as a Lender on the signature pages hereof, (ii) each
Additional Lender or Assignee that becomes a Lender pursuant to either Section 2.11 or Section
9.08(c), and (iii) their respective successors.

     “Lender Insolvency Event” means that (i) a Lender or its Parent is insolvent, or is generally
unable to pay its debts as they become due, or admits in writing its inability to pay its debts as
they become due, or makes a general assignment for the benefit of its creditors, or (ii) such
Lender or its Parent is the subject of a bankruptcy, insolvency, reorganization, liquidation or
similar proceeding, or a receiver, trustee, conservator, intervenor or sequestrator or the like has
been appointed for such Lender or its Parent, or such Lender or its Parent has taken any action in
furtherance of or indicating its consent to or acquiescence in any such proceeding or
appointment. 

     “Leverage Ratio” means, at any date, the ratio of (a) Consolidated Debt at such date to (b)
Consolidated EBITDA for the period of four consecutive fiscal quarters most recently ended on or
prior to such date, taken as one accounting period.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind. For the purposes of this Agreement, the Borrower or any Subsidiary
shall be deemed to own subject to a Lien any asset which it has acquired or holds subject to the
interest of a vendor or lessor under any conditional sale agreement, capital lease or other title
retention agreement relating to such asset.

     “Loan” and “Loans” mean a loan made by a Lender pursuant to Section 2.01; provided that, if
any such loan or loans (or portions thereof) are combined or subdivided pursuant to a Notice of
Interest Rate Election, the term Loan shall refer to the combined principal amount resulting from
such combination or to each of the separate principal amounts resulting from such subdivision, as
the case may be.

     “London Interbank Offered Rate” has the meaning set forth in Section 2.05(b).

     “Material Adverse Effect” means a material adverse effect on (a) the ability of the Borrower
to perform its obligations under this Agreement or any of the Notes, (b) the validity or
enforceability of this Agreement or any of the Notes, (c) the rights and remedies of any Lender or
the Administrative Agent under this Agreement or any of the Notes, or (d) the timely payment of the
principal of or interest on the Loans or other amounts payable in connection therewith.

7

 

     “Material Debt” means Debt (other than the Loans) of the Borrower and/or one or more of its
Subsidiaries, arising in one or more related or unrelated transactions, in an aggregate principal
or face amount exceeding $50,000,000.

     “Material Financial Obligations” means a principal or face amount of Debt and/or payment or
collateralization obligations in respect of Derivatives Obligations of the Borrower and/or one or
more of its Restricted Subsidiaries, arising in one or more related or unrelated transactions,
exceeding in the aggregate $50,000,000.

     “Material Plan” means at any time a Plan or Plans having aggregate Unfunded Liabilities in
excess of $50,000,000.

     “Multiemployer Plan” means at any time an employee pension benefit plan within the meaning of
Section 4001(a)(3) of ERISA to which any member of the ERISA Group is then making or accruing an
obligation to make contributions.

     “Notes” means promissory notes of the Borrower, evidencing the obligation of the Borrower to
repay the Loans, and “Note” means any one of such promissory notes issued hereunder.

     “Notice of Interest Rate Election” has the meaning set forth in Section 2.08.

     “Officer’s Certificate” means a certificate signed by an officer of the Borrower.

     “Other Taxes” has the meaning set forth in Section 8.04.

     “Parent” means, with respect to any Lender, any Person controlling such Lender.

     “Participant” has the meaning set forth in Section 9.08(b).

     “PBGC” means the Pension Benefit Guaranty Corporation or any entity succeeding to any or all
of its functions under ERISA.

     “Person” means any individual, firm, company, corporation, joint venture, joint-stock company,
limited liability company or partnership, trust, unincorporated organization, government or state
entity, or any association or partnership (whether or not having separate legal personality) of two
or more of the foregoing.

     “Plan” means at any time an employee pension benefit plan (other than a Multiemployer Plan)
which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412
of the Internal Revenue Code and is maintained, or contributed to, by any member of the ERISA Group
for employees of any member of the ERISA Group.

     “Pricing Schedule” means the Schedule attached hereto identified as such.

     “Prime Rate” means the rate of interest publicly announced by SunTrust Bank in Atlanta,
Georgia from time to time as its Prime Rate.

8

 

     “Principal Property” means, at any time, any manufacturing facility that is located in the
United States, is owned by the Borrower or any of its Subsidiaries, and has a book value, net of
any depreciation or amortization, pursuant to the then most recently delivered financial
statements, in excess of 2.5% of the consolidated total assets of the Borrower and its Consolidated
Subsidiaries, taken as a whole.

     “Quarterly Date” means the last day of March, June, September and December in each year,
commencing June 30, 2009.

     “Reference Banks” means the principal offices of Bank of America, N.A., and SunTrust Bank.

     “Reference Bank” means any one of such Reference Banks.

     “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve System, as
in effect from time to time.

     “Required Lenders” means at any time Lenders with more than 50% of the aggregate amount of the
Credit Exposures at such time provided, however, that to the extent that any Lender
is a Defaulting Lender, such Defaulting Lender and all of its Credit Exposure shall be excluded for
purposes of determining Required Lenders.

     “Restricted Subsidiary” means (x) any Significant Subsidiary, (y) any Subsidiary that has
substantially all of its property located in the United States and that owns a Principal Property
and (z) other Subsidiaries from time to time designated, by the Borrower by notice to the
Administrative Agent, as Restricted Subsidiaries as necessary such that at all times, based on the
most recent financial statements delivered pursuant hereto, at the end of any fiscal quarter the
book value of the aggregate total assets, net of depreciation and amortization and after
intercompany eliminations, of the Borrower and all of its Restricted Subsidiaries is not less than
85% of the consolidated total assets, net of depreciation and amortization and after intercompany
eliminations, of the Borrower and its Consolidated Subsidiaries, taken as a whole.

     “Retiring Lender” has the meaning set forth in Section 9.01(a).

     “Significant Subsidiary” means a Subsidiary with a book value of total assets, net of
depreciation and amortization and after intercompany eliminations, equal to or greater than 5% of
the consolidated total assets of the Borrower and its Consolidated Subsidiaries, taken as a whole.

     “Subsidiary” means, as to any Person, any corporation or other entity of which securities or
other ownership interests having ordinary voting power to elect a majority of the board of
directors or other persons performing similar functions are at the time directly or indirectly
owned by such Person; unless otherwise specified, “Subsidiary” means a Subsidiary of the Borrower.

     “Syndication Agent” means Branch Banking & Trust Company, in its capacity as
syndication agent in respect of this Agreement.

9

 

     “Taxes” has the meaning set forth in Section 8.04.

     “Temporary Cash Investment” means any Investment in (i) direct obligations of the United
States or any agency thereof, or obligations guaranteed by the United States or any agency thereof,
(ii) commercial paper rated at least A-1 by Standard & Poor’s (a division of The McGraw-Hill
Companies, Inc.) and P-1 by Moody’s Investors Service, Inc., (iii) time deposits with, including
certificates of deposit issued by, any office located in the United States of any bank or trust
company which is organized under the laws of the United States or any state thereof and has
capital, surplus and undivided profits aggregating at least $1,000,000,000, (iv) obligations of a
municipality or its agency that are supported by a letter of credit from an office of a bank or
trust company meeting the criteria set forth in clause (iii) above provided the holder of such
obligations may compel the repurchase or resale of such obligations within a one month period or
(v) repurchase agreements with respect to securities described in clause (i) above entered into
with an office of a bank or trust company meeting the criteria specified in clause (iii) above,
provided in each case that such Investment matures within one year from the date of acquisition
thereof by the Borrower or a Subsidiary.

     “Termination Date” means June 6, 2012.

     “Total Commitments” means, at the time for any determination thereof, the aggregate of the
Commitments of the Lenders.

     “Total Exposure” means, at any time, the aggregate principal amount of all Loans outstanding
at such time.

     “Transferee” has the meaning set forth in Section 9.08(e).

     “United States” means the United States of America, including the States and the District of
Columbia, but excluding the Commonwealths, territories and possessions of the United States.

     “Unfunded Liabilities” means, with respect to any Plan at any time, the amount (if any) by
which (i) the present value of all benefits under such Plan exceeds (ii) the fair market value of
all Plan assets allocable to such benefits (excluding any accrued but unpaid contributions), all
determined as of the then most recent valuation date for such Plan, but only to the extent that
such excess represents a potential liability of a member of the ERISA Group to the PBGC or an
appointed trustee under Title IV of ERISA.

     Section 1.02. Accounting Terms and Determinations. 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 generally accepted accounting principles
as in effect from time to time applied on a basis consistent (except for changes concurred in by
the Borrower’s independent public accountants) with the most recent audited consolidated financial
statements of the Borrower and its Consolidated Subsidiaries delivered to the Lenders; provided
that, if the Borrower notifies the Administrative Agent that the Borrower wishes to amend any
covenant contained in Article 5 to eliminate the effect of any change after the date hereof in
generally accepted accounting principles (which, for purposes of

10

 

this proviso shall include the generally accepted application or interpretation thereof) on
the operation of such covenant (or if the Administrative Agent notifies the Borrower that the
Required Lenders wish to amend any such covenant for such purpose), then the Borrower’s compliance
with such covenant shall be determined on the basis of generally accepted accounting principles in
effect immediately before the relevant change in generally accepted accounting principles is
adopted by the Borrower, until either such notice is withdrawn or such covenant is amended in a
manner satisfactory to the Borrower and the Required Lenders.

     Section 1.03. Types of Borrowings. The term “Borrowing” denotes the aggregation of Loans of
one or more Lenders to be made to the Borrower pursuant to Article 2 on the same date, all of which
Loans are of the same type (subject to Article 8) and, except in the case of Base Rate Loans, have
the same initial Interest Period. Borrowings are classified for purposes of this Agreement by
reference to the pricing of Loans comprising such Borrowing (e.g., a “Euro-Dollar Borrowing” is a
Borrowing comprised of Euro-Dollar Loans).

ARTICLE 2

The Loans 

     Section 2.01. Loans. Subject to the terms and conditions set forth herein, each Lender
severally agrees to make a single loan (each, a “Loan”) to the Borrower on the Effective Date in a
principal amount equal to the Commitment of such Lender; provided, that if for any reason
the full amount of such Lender’s Commitment is not fully drawn on the Effective Date, the undrawn
portion thereof shall automatically be cancelled. The Loans may be, from time to time, Base Rate
Loans or Euro-Dollar Loans or a combination thereof. The aggregate principal amount of each
Euro-Dollar Loan shall be not less than $1,000,000 or a larger multiple of $50,000, and the
aggregate principal amount of each Base Rate Loan shall not be less than $100,000 or a larger
multiple of $50,000. At no time shall the total number of Euro-Dollar Loans outstanding at any
time exceed six (6). The execution and delivery of this Agreement by the Borrower and the
satisfaction of all conditions precedent pursuant to Section 3.01 shall be deemed to constitute the
Borrower’s request to borrow the Loans on the Effective Date. Loans, once repaid, may not be
reborrowed.

     Section 2.02. Funding of Loans.

     (a) Each Lender will make its Loan available on the Effective Date by wire transfer in
immediately available funds by 2:00 p.m. (New York, New York time) to the Administrative Agent at
its address referred to in Section 9.02. The Administrative Agent will make such Loans available to
the Borrower by promptly crediting the amounts that it receives, in like funds by the close of
business on such proposed date, to an account maintained by the Borrower with the Administrative
Agent or at the Borrower’s option, by effecting a wire transfer of such amounts to an account
designated by the Borrower to the Administrative Agent.

     (b) Unless the Administrative Agent shall have received notice from a Lender prior to the
Effective Date that such Lender will not make available to the Administrative Agent such Lender’s
share of such Borrowing, the Administrative Agent may assume that such Lender has made such share
available to the Administrative Agent on the date of such Borrowing in accordance with subsections
(b) and (c) of this Section and the Administrative Agent may, in

11

 

reliance upon such assumption, make available to the Borrower on such date a corresponding
amount. If and to the extent that such Lender shall not have so made such share available to the
Administrative Agent, such Lender and the Borrower severally agree to repay to the Administrative
Agent forthwith on demand such corresponding amount together with interest thereon, for each day
from the date such amount is made available to the Borrower until the date such amount is repaid to
the Administrative Agent, at the Federal Funds Rate. If such Lender shall repay to the
Administrative Agent such corresponding amount, such amount so repaid shall constitute such
Lender’s Loan included in such Borrowing for purposes of this Agreement.

     (c) The failure of any Lender to make a Loan required to be made by it as part of any
Borrowing hereunder shall not relieve any other Lender of its obligation, if any, hereunder to make
its Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any
other Lender to make the Loan to be made by such other Lender on the date of the Borrowing.

     Section 2.03. Registry; Notes.

     (a) The Administrative Agent shall maintain a register (the “Register”) on which it will
record the Loan made by each Lender and each repayment of any Loan made by such Lender. Any such
recordation by the Administrative Agent on the Register shall be presumptively correct, absent
manifest error. Failure to make any such recordation, or any error in such recordation, shall not
affect the Borrower’s obligations hereunder.

     (b) The Borrower hereby agrees that, promptly upon the request of any Lender at any time, the
Borrower shall deliver to such Lender a single Note, in a form reasonably acceptable to the
Administrative Agent, duly executed by the Borrower and payable to the order of such Lender and
representing the obligation of the Borrower to pay the unpaid principal amount of all Loans made to
the Borrower by such Lender, with interest as provided herein on the unpaid principal amount from
time to time outstanding.

     (c) Each Lender shall record the date, amount and maturity of each Loan made by it and the
date and amount of each payment of principal made by the Borrower with respect thereto, and each
Lender receiving a Note pursuant to this Section, if such Lender so elects in connection with any
transfer or enforcement of any Note, may endorse on the schedule forming a part thereof appropriate
notations to evidence the foregoing information with respect to each such Loan then outstanding;
provided that neither the failure of such Lender to make any such recordation or endorsement nor
any error therein shall affect the obligations of the Borrower hereunder or under the Notes. Such
Lender is hereby irrevocably authorized by the Borrower so to endorse any Note and to attach to and
make a part of any Note a continuation of any such schedule as and when required.

     Section 2.04. Maturity of Loans. The Borrower unconditionally promises to pay to the
Administrative Agent for the account of each Lender the then unpaid principal amount of the Loan of
such Lender in installments payable on the dates set forth below, with each such installment being
in the aggregate principal amount for all Lenders set forth opposite such date below (and on such
other date(s) and in such other amounts as may be required from time to time pursuant to this
Agreement):

12

 

	 	 	 	 	 
	Installment Date	 	Aggregate Principal Amount
	on each Quarterly Date on or before
March 31, 2011
	 	$	1,625,000	 
	on each Quarterly Date on or after
June 30, 2011
	 	$	3,250,000	 

provided, that, to the extent not previously paid, the aggregate unpaid principal balance
of the Loans shall be due and payable on the Termination Date.

     Section 2.05. Interest Rates.

     (a) Each Base Rate Borrowing shall bear interest on the outstanding principal amount thereof,
for each day from the date such Borrowing is made until it becomes due, at a rate per annum equal
to the sum of the Base Rate Margin for such day plus the Base Rate for such day. Such interest,
including with respect to the principal amount of any Base Rate Borrowing converted to a
Euro-Dollar Borrowing, shall be payable at maturity, quarterly in arrears on each Quarterly Date
prior to maturity. Any overdue principal of or interest on any Base Rate Borrowing shall bear
interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 2%
plus the rate otherwise applicable to Base Rate Borrowings for such day.

     (b) Each Euro-Dollar Borrowing shall bear interest on the outstanding principal amount
thereof, for each day during each Interest Period applicable thereto, at a rate per annum equal to
the sum of the Euro-Dollar Margin for such day plus the London Interbank Offered Rate applicable to
such Interest Period. Such interest shall be payable for each Interest Period on the last day
thereof and, if such Interest Period is longer than three months, at intervals of three months
after the first day thereof.

     The “London Interbank Offered Rate” applicable to any Interest Period means the rate appearing
on Reuters BBA Libor Rates Page 3750 (or on any successor or substitute page of such page)
providing rate quotations comparable to those currently provided on such page of such page, as
determined by the Administrative Agent from time to time for purposes of providing quotations of
interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00
A.M., London time, two Euro-Dollar Business Days prior to the commencement of such Interest Period,
as the rate for Dollar deposits with a maturity comparable to such Interest Period. In the event
that such rate is not available at such time for any reason, then the “London Interbank Offered
Rate” for such Interest Period shall be the average (rounded upward, if necessary, to the next
higher 1/100 of 1%) of the respective rates per annum at which deposits in dollars are offered by
each of the Reference Banks in the London interbank market at approximately 11:00 A.M. (London
time) two Euro-Dollar Business Days before the first day of such Interest Period in an amount
approximately equal to the principal amount of the Euro-Dollar Loan of such Reference Bank to which
such Interest Period is to apply and for a period of time comparable to such Interest Period.

13

 

     (c) Any overdue principal of or interest on any Euro-Dollar Borrowing shall bear interest,
payable on demand, for each day until paid at a rate per annum equal to the higher of (i) the sum
of 2% plus the Euro-Dollar Margin for such day plus the average (rounded upward, if necessary, to
the next higher 1/100 of 1%) of the respective rates per annum at which one day (or, if such amount
due remains unpaid more than three Euro-Dollar Business Days, then for such other period of time
not longer than three months as the Administrative Agent may select) deposits in dollars in an
amount approximately equal to such overdue payment due to each of the Reference Banks are offered
by such Reference Bank in the London interbank market for the applicable period determined as
provided above and (ii) the sum of 2% plus the Euro-Dollar Margin for such day plus the London
Interbank Offered Rate applicable to such Loan at the date such payment was due.

     (d) The Administrative Agent shall determine each interest rate applicable to the Borrowings
hereunder. The Administrative Agent shall give prompt notice to the Borrower and the participating
Lenders of each rate of interest so determined, and its determination thereof shall be conclusive
in the absence of manifest error.

     (e) Each Reference Bank agrees to use its best efforts to furnish quotations to the
Administrative Agent as contemplated by this Section. If any Reference Bank does not furnish a
timely quotation, the Administrative Agent shall determine the relevant interest rate on the basis
of the quotation or quotations furnished by the remaining Reference Bank or Banks or, if none of
such quotations is available on a timely basis, the provisions of Error! Reference source not
found. shall apply.

     Section 2.06. Optional Prepayments.

     (a) Subject in the case of any Euro-Dollar Borrowing to Section 2.09, the Borrower may, upon
notice to the Administrative Agent not later than 11:30 A.M. (New York City time) on the date of
such prepayment, prepay any Base Rate Borrowing (or upon at least three Euro-Dollar Business Days’
notice to the Administrative Agent, prepay any Euro-Dollar Borrowings), in each case in whole at
any time, or from time to time in part in amounts aggregating $5,000,000 or any larger multiple of
$1,000,000 by paying the principal amount to be prepaid together with accrued interest thereon to
the date of prepayment. Each prepayment of a Borrowing shall be applied to the Euro-Dollar Loans
and Base-Rate Loans comprising such Borrowing as the Borrower may select in its notice of
prepayment, and to principal installments in order of maturity.

     (b) Upon receipt of a notice of prepayment pursuant to this Section, the Administrative Agent
shall promptly notify each Lender of the contents thereof and of such Lender’s ratable share (if
any) of such prepayment and such notice shall not thereafter be revocable by the Borrower.

     Section 2.07. General Provisions as to Payments.

     (a) The Borrower shall make each payment of principal of, and interest on, the Loans and of
fees hereunder, not later than 2:00 P.M. (New York City time) on the date when due, in funds
immediately available in New York City, to the Administrative Agent at its address

14

 

referred to in Section 9.02. If a Fed-Wire reference or tracer number has been received, from
the Borrower or otherwise, by the Administrative Agent by that time the Borrower will not be
penalized for a payment received after 2:00 P.M. (New York City time). The Administrative Agent
will promptly distribute to each Lender its ratable share of each such payment received by the
Administrative Agent for the account of the Lenders. Whenever any payment of principal of, or
interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business
Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day.
Whenever any payment of principal of, or interest on, the Euro-Dollar Loans shall be due on a day
which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next
succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar
month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business
Day. If the date for any payment of principal is extended by operation of law or otherwise,
interest thereon shall be payable for such extended time.

     (b) Unless the Administrative Agent shall have received notice from the Borrower prior to the
date on which any payment is due to the Lenders hereunder that the Borrower will not make such
payment in full, the Administrative Agent may assume that the Borrower has made such payment in
full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon
such assumption, cause to be distributed to each Lender on such due date an amount equal to the
amount then due such Lender. If and to the extent that the Borrower shall not have so made such
payment, each Lender shall repay to the Administrative Agent forthwith on demand such amount
distributed to such Lender together with interest thereon, for each day from the date such amount
is distributed to such Lender until the date such Lender repays such amount to the Administrative
Agent, at the Federal Funds Rate.

     Section 2.08. Method of Electing Interest Rates.

     (a) The Borrower may from time to time elect to change or continue the type of interest rate
borne by the Borrowings (subject in each case to the provisions of Article 8 and the last sentence
of this subsection(a)), as follows:

     (i) if such Borrowings are Base Rate Borrowings, the Borrower may elect to convert such
Borrowings to Euro-Dollar Borrowings as of any Euro-Dollar Business Day and

     (ii) if such Borrowings are Euro-Dollar Loans, the Borrower may elect to convert such
Borrowings to Base Rate Borrowings or elect to continue such Borrowings as Euro-Dollar
Borrowings for an additional Interest Period, subject to Section 2.09 in the case of any
such conversion or continuation effective on any day other than the last day of the then
current Interest Period applicable to such Borrowings.

     Each such election shall be made by delivering a notice (a “Notice of Interest Rate Election”)
to the Administrative Agent not later than 12:00 noon. (New York City time) on the third
Euro-Dollar Business Day before the conversion or continuation selected in such notice is to be
effective. A Notice of Interest Rate Election may, if it so specifies, apply to only a portion of
the aggregate principal amount of the relevant Loans; provided that the portion to which such

15

 

Notice applies, and the remaining portion to which it does not apply, are each $5,000,000 or
any larger multiple of $1,000,000. If no such notice is timely received prior to the end of an
Interest Period, the Borrower shall be deemed to have elected that all Borrowings having such
Interest Period be converted to Base Rate Borrowings at the end of such Interest Period.

     (b) Each Notice of Interest Rate Election shall specify:

     (i) the Borrowings to which such notice applies;

     (ii) the date on which the conversion or continuation selected in such notice is to be
effective, which shall comply with the applicable clause of subsection (a) above;

     (iii) if the Borrowings are to be converted, the new type of Borrowing and, if the
Borrowings being converted are to be Euro-Dollar Borrowings, the duration of the next
succeeding Interest Period applicable thereto; and

     (iv) if such Borrowings are to be continued as Euro-Dollar Borrowings for an additional
Interest Period, the duration of such additional Interest Period.

     Each Interest Period specified in a Notice of Interest Rate Election shall comply with the
provisions of the definition of Interest Period.

     (c) Upon receipt of a Notice of Interest Rate Election from the Borrower pursuant to
subsection (a) above, the Administrative Agent shall promptly notify each Lender of the contents
thereof and such notice shall not thereafter be revocable by the Borrower.

     Section 2.09. Funding Losses. If the Borrower makes any payment of principal with respect to
any Euro-Dollar Borrowing or any Euro-Dollar Borrowing is converted (pursuant to Article 2, 6 or 8
or otherwise) on any day other than the last day of an Interest Period applicable thereto, or the
last day of an applicable period pursuant to Section 2.05(c), or if the Borrower fails to prepay,
convert or continue any Euro-Dollar Loans after notice has been given to any Lender in accordance
with Section 2.05 or 2.06 the Borrower shall reimburse each Lender within 30 days after demand for
any resulting loss or expense incurred by it, including (without limitation) any loss incurred in
obtaining, liquidating or employing deposits from third parties, but excluding loss of margin for
the period after any such payment or conversion or failure to borrow, prepay, convert or continue,
provided that such Lender shall have delivered to the Borrower a certificate as to the amount of
such loss or expense, which certificate shall be conclusive in the absence of manifest error.

     Section 2.10. Computation of Interest and Fees. Interest based on the Prime Rate hereunder
shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and paid for the
actual number of days elapsed (including the first day but excluding the last day). All other
interest and fees shall be computed on the basis of a year of 360 days and paid for the actual
number of days elapsed (including the first day but excluding the last day).

     Section 2.11. Increased Commitments; Additional Lenders.

16

 

     (a) Subsequent to the Effective Date and provided that no Default or Event of Default has
occurred and is continuing, the Borrower may, upon at least 30 days’ notice to the Administrative
Agent (which shall promptly provide a copy of such notice to the Lenders), propose to increase the
aggregate amount of the Commitments up to $200,000,000 (the amount of any such increase, the
“Increased Commitments”). Such notice shall specify the amortization, if any, maturity, and
pricing to be applicable to the loans funded under the Increased Commitments (the “Increased
Loans”) and the other terms and conditions relevant thereto. Each Lender party to this Agreement
at such time shall have the right (but no obligation), for a period of 15 days following receipt of
such notice, to elect by notice to the Borrower and the Administrative Agent to increase its
Commitment by a principal amount of not less than $5,000,000.

     (b) If any Lender party to this Agreement shall not elect to increase its Commitment pursuant
to subsection (a) of this Section or shall elect to increase its Commitment but shall not increase
its Commitment by the full amount of its pro rata share of the Increased Commitments, the Borrower
may designate another bank or other banks (which may be, but need not be, one or more of the
existing Lenders) which at the time agree to (i) in the case of any such bank that is an existing
Lender, increase its Commitment and (ii) in the case of any other such bank (an “Additional
Lender”), become a party to this Agreement. The sum of the increases in the Commitments of the
existing Lenders pursuant to this subsection (b) plus the Commitments of the Additional Lenders
shall not in the aggregate exceed the unsubscribed amount of the Increased Commitments.

     (c) The terms and provisions of the Increased Loans and Increased Commitments shall be
identical to the Loans and the Commitments, except as otherwise set forth herein or in the
amendment to this Agreement implementing the Increased Commitments (the “Increased Amendment”). In
any event (i) the weighted average life to maturity of all Increased Loans shall be no shorter than
the weighted average life to maturity of the Loans, (ii) the applicable maturity date of the
Incremental Loans shall be no shorter than the Termination Date, and (iii) the rate of interest
applicable to the Increased Loans shall not be greater than the highest interest rate that may,
under any circumstances, be payable with respect to Loans unless the interest rate with respect to
the Loans is increased so as to be not less than 25 basis points less than the interest rate
applicable to the Increased Loans. Each Increased Amendment may, without the consent of any other
Lenders, effect such amendments to this Agreement and the other loan documents as may be necessary
or appropriate, in the opinion of the Administrative Agent, to effect the provision of this Section
2.11.

     (d) An increase in the aggregate amount of the Commitments pursuant to this Section 2.11 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 Borrower, by each Additional Lender and by
each other Lender whose Commitment is to be increased, setting forth the new Commitments of such
Lenders and setting forth the agreement of each Additional Lender to become a party to this
Agreement and to be bound by all the terms and provisions hereof, together with such evidence of
appropriate corporate authorization on the part of the Borrower with respect to the Increased
Commitments and such opinions of counsel for the Borrower with respect to the Increased Commitments
as the Administrative Agent may reasonably request.

17

 

ARTICLE 3

Conditions

     Section 3.01. Effectiveness. This Agreement shall become effective as of the date hereof,
subject to receipt by the Administrative Agent of:

          (a) The Administrative Agent shall have received all fees described in that certain Fee
Letter, dated as of March 17, 2009 and other amounts due and payable on or prior to the Effective
Date, including reimbursement or payment of all out-of-pocket expenses (including reasonable fees,
charges and disbursements of counsel to the Administrative Agent) required to be reimbursed or paid
by the Borrower hereunder and under any agreement with the Administrative Agent or SunTrust
Robinson Humphrey, Inc., as Lead Arranger.

          (b) The Administrative Agent (or its counsel) shall have received the following, each to be in
form and substance satisfactory to the Administrative Agent:

          (i) a counterpart of this Agreement signed by or on behalf of each party hereto or
written evidence satisfactory to the Administrative Agent (which may include telecopy
transmission of a signed signature page of this Agreement) that such party has signed a
counterpart of this Agreement;

          (ii) a certificate of the Secretary or Assistant Secretary of the Borrower, in a form
acceptable to Administrative Agent, attaching and certifying copies of its bylaws and of the
resolutions of its board of directors, or partnership agreement or limited liability company
agreement, or comparable organizational documents and authorizations, authorizing the
execution, delivery and performance of this Agreement and other related documents to which
it is a party and certifying the name, title and true signature of each officer of the
Borrower executing this Agreement and other related to which it is a party;

          (iii) certified copies of the articles or certificate of incorporation, certificate of
organization or limited partnership, or other registered organizational documents of the
Borrower, together with certificates of good standing or existence, as may be available from
the Secretary of State of the jurisdiction of organization of the Borrower and each other
jurisdiction where the Borrower is required to be qualified to do business as a foreign
corporation;

          (iv) favorable written opinions of Sutherland Asbill & Brennan LLP and Robinson,
Bradshaw & Hinson, P.A., counsel to the Borrower, addressed to the Administrative Agent and
each of the Lenders, and covering such matters relating to the Borrower, this Agreement and
related documents and the transactions contemplated therein as the Administrative Agent or
the Required Lenders shall reasonably request;

          (v) a certificate, in a form acceptable to the Administrative Agent, dated the
Effective Date, certifying that after giving effect to the funding of the Loans, (x) no
Default or Event of Default exists, (y) all representations and warranties of the
Borrower set forth in this Agreement are true and correct and (z) since the date of the

18

 

financial statements of the Borrower described in Section 4.04, there shall have been no
change which has had or could reasonably be expected to have a Material Adverse Effect;

          (vi) a duly executed funds disbursement agreement;

          (vii) copies of the audited consolidated financial statements for Borrower and its
Subsidiaries for the fiscal year ending December 31, 2008 including balance sheets, income
and cash flow statements audited by independent public accountants of recognized national
standing and prepared in conformity with GAAP; and

          (viii) certificates of insurance issued on behalf of insurers of the Borrower,
describing in reasonable detail the types and amounts of insurance (property and liability)
maintained by the Borrower.

ARTICLE 4

Representations and Warranties

     The Borrower represents and warrants that:

     Section 4.01. Corporate Existence and Power. Each of the Borrower and its Restricted
Subsidiaries is a corporation duly organized and validly existing under the laws of the state of
its incorporation without limitation on the duration of its existence, is in good standing therein,
and is duly qualified to transact business in all jurisdictions where such qualification is
necessary, except for such jurisdictions where the failure to be so qualified or licensed will not
be reasonably likely to have a Material Adverse Effect; the Borrower has corporate power to enter
into and perform this Agreement; and the Borrower has the corporate power to borrow and issue Notes
as contemplated by this Agreement.

     Section 4.02. Corporate Authorization; No Contravention. The execution, delivery and
performance by the Borrower of this Agreement and the Notes are within the corporate powers of the
Borrower, have been duly authorized by all necessary corporate action and do not contravene, or
constitute a default under, any provision of applicable law or regulation or of the certificate of
incorporation or by-laws of the Borrower or of any agreement, judgment, injunction, order, decree
or other instrument binding upon the Borrower or any of its Subsidiaries or result in the creation
or imposition of any Lien on any asset of the Borrower or any of its Subsidiaries which would be
reasonably likely to have a Material Adverse Effect.

     Section 4.03. Binding Effect. This Agreement and any Notes constitute valid and binding
agreements of the Borrower enforceable against the Borrower in accordance with their respective
terms, except to the extent limited by bankruptcy, reorganization, insolvency, moratorium and other
similar laws of general application relating to or affecting the enforcement of creditors’ rights
or by general equitable principles.

     Section 4.04. Financial Information. (a) The consolidated balance sheet of the Borrower and
its Consolidated Subsidiaries as of December 31, 2008 and the related consolidated statements of
earnings and cash flows for the fiscal year then ended, reported on by Ernst & Young LLP and set
forth in the Borrower’s 2008 Form 10-K, a copy of which has been delivered to each of the Lenders,
fairly present, in conformity with generally accepted

19

 

accounting principles (“GAAP”), the
consolidated financial position of the Borrower and its Consolidated Subsidiaries as of such date
and their consolidated results of operations and cash flows for such fiscal year.

     (b) Since December 31, 2008, there has been no change in the consolidated financial condition
of the Borrower and its Consolidated Subsidiaries which would be reasonably likely to have a
Material Adverse Effect.

     Section 4.05. Litigation. There are no suits, actions or proceedings pending, or to the
knowledge of any member of the Borrower’s legal department threatened or against the Borrower or
any Subsidiary, the adverse determination of which is reasonably likely to occur, and if so
adversely determined would be reasonably likely to have a Material Adverse Effect.

     Section 4.06. Taxes. The Borrower and each Subsidiary have filed all material tax returns
which to the knowledge of any member of the Borrower’s tax department were required to be filed and
have paid or have adequately provided for all taxes shown thereon to be due, including interest and
penalties, except for (i) those not yet delinquent, (ii) those the nonpayment of which would not be
reasonably likely to have a Material Adverse Effect and (iii) those being contested in good faith.

     Section 4.07. Margin Regulations. No part of the proceeds of any Loan will be used in a
manner which would violate, or result in a violation of, Regulation U.

     Section 4.08. Compliance with Laws. The Borrower and its Restricted Subsidiaries are in
compliance in all material respects with all applicable laws, rules and regulations, other than
such laws, rules and regulations (i) the validity or applicability or which the Borrower or such
Subsidiary is contesting in good faith or (ii) failure to comply with which would not be reasonably
likely to have a Material Adverse Effect.

     Section 4.09. Governmental Approvals. No consent, approval, authorization, permit or license
from, or registration or filing with, any Governmental Authority is required in connection with the
making of this Agreement, with the exception of routine periodic filings made under the Exchange
Act.

     Section 4.10. Pari Passu Obligations. Under applicable United States laws (including state
and local laws) in force at the date hereof, the claims and rights of the Lenders and the
Administrative Agent against the Borrower under this Agreement and the Notes will not be
subordinate to, and will rank at least pari passu
with, the claims and rights of any other unsecured creditors of the Borrower (except to the
extent provided by bankruptcy, reorganization, insolvency, moratorium or other similar laws of
general application relating to or affecting the enforcement of creditors’ rights and by general
principles of equity).

     Section 4.11. No Defaults. The payment obligations of the Borrower and its Subsidiaries in
respect of any Material Debt are not overdue.

     Section 4.12. Full Disclosure. All information furnished to the Lenders in writing prior to
the date hereof in connection with the transactions contemplated hereby does not, collectively,
contain any misstatement of a material fact or omit to state a fact necessary to make the

20

 

statements contained therein, in the light of the circumstances under which they were made, not
misleading in any material respect on and as of the date hereof.

     Section 4.13. ERISA. Each member of the ERISA Group has fulfilled its obligations under the
minimum funding standards of ERISA and the Internal Revenue Code with respect to each Plan and is
in substantial compliance in all material respects with the presently applicable material
provisions of ERISA and the Internal Revenue Code with respect to each Plan. No member of the
ERISA Group has (i) sought a waiver of the minimum funding standard under Section 412 of the
Internal Revenue Code in respect of any Plan, (ii) failed to make any contribution or payment to
any Plan or Multiemployer Plan or made any amendment to any Plan which, in either case has resulted
or could result in the imposition of a material Lien or the posting of a material bond or other
material security under ERISA or the Internal Revenue Code or (iii) incurred any material liability
under Title IV of ERISA other than a liability to the PBGC for premiums under Section 4007 of
ERISA.

     Section 4.14. Environmental Matters. Environmental Matters. The Financial Statements
described in Section 4.04(a) provide certain information regarding environmental matters related to
properties currently owned by the Borrower or its Restricted Subsidiaries, previously owned
properties, and other properties. Since December 31, 2008, environmental matters have not caused
any material adverse change in the consolidated financial condition of the Borrower and the
Consolidated Subsidiaries from that shown by such Financial Statements.

     In the ordinary course of business, the ongoing operations of the Borrower and its Restricted
Subsidiaries are reviewed from time to time to determine compliance with applicable Environmental
Laws. Based on these reviews, to the knowledge of the Borrower, ongoing operations at the
Principal Properties are currently being conducted in substantial compliance with applicable
Environmental Laws except to the extent that noncompliance would not be reasonably likely to have a
Material Adverse Effect.

     Section 4.15. Regulatory Restrictions on Borrowing. The Borrower is not an “investment
company” within
the meaning of the Investment Company Act of 1940, as amended, or otherwise subject to any
regulatory scheme which restricts its ability to incur debt.

ARTICLE 5

Covenants

     From the Effective Date and so long as any Lender has any Credit Exposure hereunder, the
Borrower agrees that, unless the Required Lenders shall otherwise consent in writing:

     Section 5.01. Information. The Borrower will deliver to the Administrative Agent which will
deliver to each of the Lenders:

     (a) as soon as available and in any event within 60 days after the end of each of its first
three quarterly accounting periods in each fiscal year, consolidated statements of earnings and
cash flows of the Borrower and the Consolidated Subsidiaries for the period from the beginning of
such fiscal year to the end of such fiscal period and the related consolidated balance sheet of the
Borrower and the Consolidated Subsidiaries as at the end of such fiscal period, all in reasonable
detail (it being understood that delivery of such statements as filed with the Securities

21

 

and
Exchange Commission shall be deemed to satisfy the requirements of this subsection) and accompanied
by a certificate in the form attached hereto as Exhibit B signed by a financial officer of the
Borrower stating that such consolidated financial statements fairly present the consolidated
financial condition and results of operations of the Borrower and the Consolidated Subsidiaries as
of the end of such period and for the period involved, subject, however, to year-end audit
adjustments, and that such officer has no knowledge, except as specifically stated, of any Default;

     (b) as soon as available and in any event within 120 days after the end of each fiscal year,
consolidated statements of earnings and cash flows of the Borrower and the Consolidated
Subsidiaries for such year and the related consolidated balance sheets of the Borrower and the
Consolidated Subsidiaries as at the end of such year, all in reasonable detail and accompanied by
(i) an opinion of independent public accountants of recognized standing selected by the Borrower as
to such consolidated financial statements (it being understood that delivery of such statements as
filed with the Securities and Exchange Commission shall be deemed to satisfy the requirements of
this subsection), and (ii) a certificate in the form attached hereto as Exhibit B signed by a
financial officer of the Borrower stating that such consolidated financial statements fairly
present the consolidated financial condition and results of operations of the Borrower and the
Consolidated Subsidiaries as of the end of such year and for the year involved and that such
officer has no knowledge, except as specifically stated, of any Default;

     (c) promptly after their becoming available:

     (i) copies of all financial statements, stockholder reports and proxy statements that
the Borrower shall have sent to its stockholders generally; and

     (ii) copies of all registration statements filed by the Borrower under the Securities
Act of 1933, as amended (other than registration statements on Form S-8 or any registration
statement filed in connection with a dividend reinvestment plan), and
regular and periodic reports, if any, which the Borrower shall have filed with the
Securities and Exchange Commission (or any governmental agency or agencies substituted
therefor) under Section 13 or Section 15(d) of the Exchange Act, or with any national or
international securities exchange (other than those on Form 11-K or any successor form);

     (d) from time to time, with reasonable promptness, such further information regarding the
business and financial condition of the Borrower and its Subsidiaries as any Lender may reasonably
request through the Administrative Agent;

     (e) prompt notice of the occurrence of any Default;

     (f) prompt notice of all litigation and of all proceedings before any governmental or
regulatory agency pending (or, to the knowledge of the General Counsel of the Borrower, threatened)
and affecting the Borrower or any Restricted Subsidiary, except litigation or proceedings which, if
adversely determined, would not be reasonably likely to have a Material Adverse Effect; and

22

 

     (g) prompt notice of all waivers for, amendments to or defaults under the Existing Agreement.

     Each set of financial statements delivered pursuant to Section 5.01(a) or 5.01(b) shall be
accompanied by or include the computations showing, in the form attached hereto as Exhibit B,
whether the Borrower was, at the end of the relevant fiscal period, in compliance with the
provisions of Section 5.09.

     Section 5.02. Payment of Obligations. The Borrower will pay and discharge, and will cause
each Restricted Subsidiary to pay and discharge, all material taxes, assessments and governmental
charges or levies imposed upon it or upon its income or profits, or upon any property belonging to
it, prior to the date on which penalties attach thereto, and all lawful material claims which, if
unpaid, might become a Lien upon the property of the Borrower or such Restricted Subsidiary;
provided that neither the Borrower nor any such Restricted Subsidiary shall be required to pay any
such tax, assessment, charge, levy or claim (i) the payment of which is being contested in good
faith and by proper proceedings, (ii) not yet delinquent or (iii) the non-payment of which, if
taken in the aggregate, would not be reasonably likely to have a Material Adverse Effect.

     Section 5.03. Insurance. The Borrower will maintain, and will cause each Restricted
Subsidiary to maintain, insurance from responsible companies in such amounts and against such risks
as is reasonable, taking into consideration the practices of businesses in the same line of
business or of similar size as the Borrower or such Restricted Subsidiary, or, to a reasonable
extent, self-insurance.

     Section 5.04. Maintenance of Existence. The Borrower will preserve and maintain, and will
cause each Restricted Subsidiary to preserve and maintain, its corporate existence and all of its
rights, privileges and franchises necessary or desirable in the normal conduct of its business, and
conduct its business in an orderly, efficient and regular manner. Nothing herein contained shall
prevent the
termination of the business or corporate existence of any Restricted Subsidiary which in the
judgment of the Borrower is no longer necessary or desirable, a merger or consolidation of a
Restricted Subsidiary into or with the Borrower (if the Borrower is the surviving corporation) or
another Subsidiary or any merger, consolidation or transfer of assets permitted by Section 5.07, as
long as immediately after giving effect to any such transaction, no Default shall have occurred and
be continuing.

     Section 5.05. Maintenance of Properties. The Borrower will keep, and will cause each
Restricted Subsidiary to keep, all of its properties necessary, in the judgment of the Borrower, in
its business in good working order and condition, ordinary wear and tear excepted. Nothing in this
Section 5.05 shall prevent the Borrower or any Restricted Subsidiary from discontinuing the
operation or maintenance, or both the operation and maintenance, of any properties of the Borrower
or any such Restricted Subsidiary if such discontinuance is, in the judgment of the Borrower (or
such Restricted Subsidiary), desirable in the conduct of its business.

     Section 5.06. Compliance with Laws. The Borrower will comply, and will cause each Restricted
Subsidiary to comply, with the requirements of all applicable laws, rules, regulations, and orders
of any Governmental Authority (including Environmental Laws and ERISA), a

23

 

breach of which would be
reasonably likely to have a Material Adverse Effect, except where contested in good faith and by
proper proceedings.

     Section 5.07. Mergers, Consolidations and Sales of Assets.

     (a) The Borrower will not consolidate with or merge into any other Person or convey or
transfer its properties and assets substantially as an entirety to any Person, unless:

     (i) the Borrower or a Consolidated Subsidiary that is incorporated under the laws of
the United States, any state thereof or the District of Columbia is the surviving
corporation of any such consolidation or merger or is the Person that acquires by conveyance
or transfer the properties and assets of the Borrower substantially as an entirety;

     (ii) if a Consolidated Subsidiary is the surviving corporation or is the Person that
acquires the property and assets of the Borrower substantially as an entirety, it shall
expressly assume the performance of every covenant of this Agreement and of the Notes on the
part of the Borrower to be performed or observed;

     (iii) immediately after giving effect to such transaction, no Default shall have
occurred and be continuing; and

     (iv) if the Borrower is not the surviving corporation, the Borrower has delivered to
the Administrative Agent an Officer’s Certificate and a legal opinion of its General
Counsel, Associate General Counsel or Assistant General Counsel, upon the express
instruction of the Borrower for the benefit of the Administrative Agent and the Lenders,
each stating that such transaction complies with this Section and that all
conditions precedent herein provided for relating to such transaction have been
complied with.

     (b) Upon any consolidation by the Borrower with, or merger by the Borrower into, a
Consolidated Subsidiary or any conveyance or transfer of the properties and assets of the Borrower
substantially as an entirety to a Consolidated Subsidiary, the Consolidated Subsidiary into which
the Borrower is merged or consolidated or to which such conveyance or transfer is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Borrower, as the
case may be, under this Agreement with the same effect as if such Consolidated Subsidiary had been
named as the Borrower, as the case may be, herein, and thereafter, in the case of a transfer or
conveyance permitted by Section 5.07(a), the Borrower shall be relieved of all obligations and
covenants under this Agreement and the Notes.

     Section 5.08. Negative Pledge. Neither the Borrower nor any Restricted Subsidiary will
create, assume or suffer to exist any Lien on any asset now owned or hereafter acquired by it,
except:

     (a) Liens existing on the date of this Agreement;

     (b) Liens securing Debt of a Restricted Subsidiary owing to the Borrower or to another
Restricted Subsidiary;

24

 

     (c) any Lien existing on any asset of any person at the time such person becomes a Subsidiary
and not created in contemplation of such event;

     (d) any Lien on any asset securing Debt incurred or assumed for the purpose of financing all
or any part of the cost of acquiring such asset (and/or, in the case of the acquisition of a
business, any Lien on the equity and/or assets of the acquired entity), provided that such Lien
attaches to such asset concurrently with or within 180 days after the acquisition thereof;

     (e) any Lien on any asset of any person existing at the time such person is merged or
consolidated with or into the Borrower or a Restricted Subsidiary and not created in contemplation
of such event;

     (f) any Lien existing on any asset prior to the acquisition thereof by the Borrower or a
Subsidiary and not created in contemplation of such acquisition;

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

     (h) Liens in favor of any customer (including any Governmental Authority) to secure partial,
progress, advance or other payments or performance pursuant to any contract or statute or to secure
any related indebtedness or to secure Debt guaranteed by a Governmental Authority;

     (i) Liens incurred in the ordinary course of business not securing Debt which do not impair in
any material respect the usefulness in the business of the Borrower and its Restricted Subsidiaries
of the assets to which such Liens attach; materialmen’s, suppliers’, tax or other
similar Liens arising in the ordinary course of business securing obligations which are not
overdue or are being contested in good faith by appropriate proceedings; Liens arising by operation
of law in favor of any lender to the Borrower or any Restricted Subsidiary in the ordinary course
of business constituting a banker’s lien or right of offset in moneys of the Borrower or a
Restricted Subsidiary deposited with such lender in the ordinary course of business; and appeal
bonds in respect of appeals being prosecuted in good faith;

     (j) Liens on cash and cash equivalents securing Derivatives Obligations, provided that the
aggregate amount of cash and cash equivalents subject to such Liens may at no time exceed
$50,000,000;

     (k) Liens securing Debt equally and ratably securing the Loans and such Debt; provided that
the Required Lenders may, in their sole discretion, refuse to take any Lien on any asset (which
refusal will not limit the Borrower’s or any Restricted Subsidiary’s ability to incur a Lien
otherwise permitted by this Section 5.08(k)); such Lien may equally and ratably secure the Loans
and any other obligation of the Borrower or any of its Subsidiaries, other than an obligation that
is subordinated to the Loans;

     (l) Liens securing contingent obligations in an aggregate principal amount not to exceed
$25,000,000; and

25

 

     (m) Liens not otherwise permitted by the foregoing clauses of this Section securing
obligations in an aggregate principal or face amount at any date not to exceed at the time of
incurrence the greater of 12.5% of Consolidated Net Worth or $75,000,000.

     For the avoidance of doubt, the creation of a security interest arising solely as a result of,
or the filing of UCC financing statements in connection with, any sale by the Borrower or any of
its Subsidiaries of accounts receivable not prohibited by Section 5.07 shall not constitute a Lien
prohibited by this covenant.

     Section 5.09. Leverage Ratio. The Leverage Ratio shall not exceed 3.25 to 1.00 as of the end
of any fiscal quarter; provided that if (i) Consolidated Debt has increased in connection with a
Specified Acquisition, (ii) as a consequence of such Specified Acquisition, the rating of long-term
unsecured debt of the Borrower has not been suspended, withdrawn or fallen below BBB by Standard &
Poor’s (a division of The McGraw-Hill Companies, Inc.) or Baa2 by Moody’s Investors Service, Inc.
and (iii) the Administrative Agent has received a Specified Acquisition Notice within 10 days of
consummation of such Specified Acquisition, then, for a period of 180 consecutive days following
the consummation of such Specified Acquisition, the additional Consolidated Debt in connection with
such Specified Acquisition shall be excluded from Consolidated Debt for purposes of calculating the
Leverage Ratio, but only if the Leverage Ratio calculated without such exclusion at no time exceeds
3.50 to 1.00.

     For purposes of this Section 5.09,

     (i) a “Specified Acquisition” means any single acquisition by the Borrower or a
Subsidiary of the Borrower of any Person (the “Target”) that (x) is in the same line or
lines of business as the Borrower or in the judgment of the Borrower is related to such
line or lines of business and (y) such Target’s board of directors have not objected to
such acquisition; and

     (ii) a “Specified Acquisition Notice” means a notice delivered by the Borrower
notifying the Administrative Agent of the Specified Acquisition and stating that the
conditions in clauses (i) and (ii) to the proviso to the Leverage Ratio above have been
satisfied.

     Section 5.10. Use of Loans. The Borrower will use the proceeds of the Loans for any lawful
corporate purposes.

     Section 5.11. Investments. Neither the Borrower nor any Subsidiary will hold, make or acquire
any Investment in any Person other than:

     (a) Investments in Temporary Cash Investments and other Investments in cash or cash
equivalents from time to time approved by the Board of Directors of the Borrower;

     (b) Investments comprised of debt consideration received in connection with the sale of assets
(including any extensions, renewals and modifications thereof);

26

 

     (c) Investments existing on the Effective Date or which the Borrower or any Restricted
Subsidiary has, as of the Effective Date, committed to make and which are set forth on Schedule
5.11(c) (including any extensions, renewals and modifications thereof);

     (d) Investments in any Subsidiary or guaranties of obligations of any Subsidiary whose
principal business on the date of the making of such Investment or after giving effect to such
Investment is either (i) the same line or lines of business as the Borrower or (ii) in the judgment
of the Borrower related to such line or lines of business (it being understood that Schedule
5.11(d) contains a nonexhaustive list of certain related businesses as of the date of the Effective
Date);

     (e) Investments by any Subsidiary in the Borrower; and

     (f) Additional Investments not otherwise included in the foregoing clauses of this Section
5.11 if, after giving effect to such Investment, the outstanding amount (computed by taking the
difference of (x) the original cash purchase price of all such Investments less (y) the sum of (i)
all payments (including interest and dividends) and repayments of principal or capital plus (ii)
all proceeds from the sale of such Investment) of all Investments permitted by this clause (f) does
not exceed $225,000,000.

     Section 5.12. Transactions with Affiliates. The Borrower will not, and will not permit any
Subsidiary to, directly or indirectly, pay any funds to or for the account of, make any investment
(whether by acquisition of stock or indebtedness, by loan, advance, transfer of property, guarantee
or other agreement to pay, purchase or service, directly or indirectly, any Debt, or otherwise) in,
lease, sell, transfer or otherwise dispose of any assets, tangible or intangible, to, or
participate in, or effect, any transaction with, any Affiliate except (i) transactions on an
arms-length basis on terms at least as
favorable to the Borrower or such Subsidiary Affiliate than could have been obtained from a
third party who was not an Affiliate, and (ii) transactions described in this Section 5.12 that
would not be reasonably likely to have a Material Adverse Effect.

ARTICLE 6

Defaults

     Section 6.01. Event of Default. If one or more of the following events (“Events of Default”)
shall have occurred and be continuing:

     (a) the Borrower shall fail to pay any principal of any Loan when due;

     (b) the Borrower shall fail to pay interest on any Loan within 5 days of the due date thereof;

     (c) the Borrower shall fail to pay within 30 days after a request for payment by any Lender
acting through the Administrative Agent any other amount payable under this Agreement;

     (d) the Borrower shall fail to observe or perform any agreement contained in Section 5.01(e)
or Section 5.07 through 5.12 (and, with respect to Section 5.10, 5.11 and 5.12,

27

 

such failure shall
have continued for 10 days after notice thereof has been given to the Borrower by the
Administrative Agent at the request of the Required Lenders);

     (e) the Borrower shall fail to observe or perform any covenant or agreement contained in this
Agreement (other than those covered by clauses (a) through (d) above) for 30 days after notice
thereof has been given to the Borrower by the Administrative Agent at the request of the Required
Lenders;

     (f) any representation, warranty or certification made by the Borrower in this Agreement or in
any certificate, or writing delivered pursuant to this Agreement shall prove to have been incorrect
in any material respect when made and such deficiency shall remain unremedied for five days after
notice thereof shall have been given to the Borrower by the Administrative Agent at the request of
the Required Lenders;

     (g) any Material Financial Obligations shall become due before stated maturity by the
acceleration of the maturity thereof by reason of default, or any Material Financial Obligations
shall become due by its terms and shall not be paid and, in any case aforesaid in this clause (g),
corrective action satisfactory to the Required Lenders shall not have been taken within 5 days
after written notice of the situation shall have been given to the Borrower by the Administrative
Agent at the request of the Required Lenders;

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

     (i) an involuntary case or other proceeding shall be commenced against the Borrower or any
Restricted Subsidiary seeking liquidation, reorganization or other relief with respect to it or its
debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking
the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or
any substantial part of its property, and such involuntary case or other proceeding shall remain
undismissed and unstayed for a period of 90 days; or an order for relief shall be entered against
the Borrower or any Restricted Subsidiary under the federal bankruptcy laws as now or hereafter in
effect;

     (j) a final judgment for the payment of money in excess of $50,000,000 shall have been entered
against the Borrower or any Restricted Subsidiary, and the Borrower or such Subsidiary shall not
have satisfied the same within 60 days, or caused execution thereon to be stayed within 60 days,
and such failure to satisfy or stay such judgment shall remain unremedied for 5 days after notice
thereof shall have been given to the Borrower by the Administrative Agent at the request of the
Required Lenders;

28

 

     (k) a final judgment either (1) requiring termination or imposing liability (other than for
premiums under Section 4007 of ERISA) under Title IV of ERISA in respect of, or requiring a trustee
to be appointed under Title IV of ERISA to administer, any Plan or Plans having aggregate Unfunded
Liabilities in excess of $50,000,000 or (2) in an action relating to a Multiemployer Plan involving
a current payment obligation in excess of $50,000,000, which judgment, in either case, has not been
satisfied or stayed within 60 days and such failure to satisfy or stay is unremedied for 5 days
after notice thereof shall have been given to the Borrower by the Administrative Agent at the
request of the Required Lenders;

     (l) any person or group of persons (within the meaning of Section 13 or 14 of the Securities
Exchange Act of 1934, as amended) shall have acquired beneficial ownership (within the meaning of
Rule 13d-3 promulgated by the Securities and Exchange Commission under said Act) of 35% or more of
the outstanding shares of common stock of the Borrower; or during any two-year period, individuals
who at the beginning of such period constituted the Borrower’s Board of Directors (together with
any new director whose election by the Board of Directors or whose nomination for election by the
shareholders of the Borrower was approved by a vote of at least two-thirds of the directors then in
office who either were directors as the beginning of such period or whose election or nomination
for election was previously so approved) cease for any reason to constitute a majority of the
directors then in office; or

     (m) any event of default under Sections 6.01(a), or (b)(ii) of the Existing Agreement;

then, and in every such event, the Administrative Agent shall, if requested by the Required
Lenders, (i) by notice to the Borrower terminate the Commitments and they shall thereupon
terminate, and (ii) by notice to the Borrower declare the Loans, interest accrued thereon and all
other amounts payable hereunder to be, and the same shall thereupon become, immediately due
and payable without presentment, demand, protest or other notice of any kind, all of which are
hereby waived by the Borrower; provided that in the event of (A) the filing by the Borrower of a
petition, or (B) an actual or deemed entry of an order for relief with respect to the Borrower,
under the federal bankruptcy laws as now or hereafter in effect, without any notice to the Borrower
or any other act by the Administrative Agent or the Lenders, the Commitments shall thereupon
terminate and the Loans, interest accrued thereon and all other amounts payable hereunder shall
become immediately due and payable without presentment, demand, protest or other notice of any
kind, all of which are hereby waived by the Borrower.

ARTICLE 7

The Administrative Agent

     Section 7.01. Appointment and Authorization. Each Lender irrevocably appoints and authorizes
the Administrative Agent to take such action as agent on its behalf and to exercise such powers
under this Agreement and the Notes as are delegated to the Administrative Agent by the terms hereof
or thereof, together with all such powers as are reasonably incidental thereto; provided, however,
that the Administrative Agent shall not commence any legal action or proceeding before a court of
law on behalf of any Lender without such Lender’s prior written consent.

29

 

     Section 7.02. Administrative Agent and Affiliates. SunTrust Bank shall have the same rights
and powers under this Agreement as any other Lender and may exercise or refrain from exercising the
same as though it were not the Administrative Agent, and SunTrust Bank and its affiliates may
accept deposits from, lend money to, and generally engage in any kind of business with the Borrower
or any Subsidiary or affiliate of the Borrower as if it were not the Administrative Agent. The
term “Lender” or “Lenders” shall, unless expressly indicated, include SunTrust Bank (and any
successor acting as Administrative Agent) in its capacity as a Lender.

     Section 7.03. Action by Administrative Agent. The obligations of the Administrative Agent
hereunder are only those expressly set forth herein. Without limiting the generality of the
foregoing, the Administrative Agent shall not be required to take any action with respect to any
Default, except as expressly provided in Article 6.

     Section 7.04. Consultation with Experts. The Administrative Agent may consult with legal
counsel (who may be counsel for the Borrower), independent public accountants and other experts
selected by it and shall not be liable to any Lender for any action taken or omitted to be taken by
it in good faith in accordance with the advice of such counsel, accountants or experts.

     Section 7.05. Liability of Administrative Agent. Neither the Administrative Agent nor any of
its affiliates nor any of their respective directors, officers, agents or employees shall be liable
for any action taken or not taken by it in connection herewith (i) with the consent or at the
request of the Required Lenders or (ii) in the absence of its own gross negligence or willful
misconduct. Neither the
Administrative Agent nor any of its affiliates nor any of their respective directors,
officers, agents or employees shall be responsible for or have any duty to ascertain, inquire into
or verify (i) any statement, warranty or representation made in connection with this Agreement or
any borrowing hereunder; (ii) the performance or observance of any of the covenants or agreements
of the Borrower; (iii) the satisfaction of any condition specified in Article 3, except receipt of
items required to be delivered to the Administrative Agent; or (iv) the validity, effectiveness or
genuineness of this Agreement, the Notes or any other instrument or writing furnished in connection
herewith. The Administrative Agent shall not incur any liability by acting in reliance upon any
notice, consent, certificate, statement, or other writing (which may be a bank wire, telex,
facsimile transmission or similar writing) believed by it to be genuine or to be signed by the
proper party or parties. Without limiting the generality of the foregoing, the use of the term
“agent” in this Agreement with reference to the Administrative Agent is not intended to connote any
fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable
law. Instead, such term is used merely as a matter of market custom and is intended to create or
reflect only an administrative relationship between independent contracting parties.

     Section 7.06. Indemnification. Each Lender shall, ratably in accordance with its Commitment,
indemnify the Administrative Agent, its affiliates and their respective directors, officers, agents
and employees (to the extent not reimbursed by the Borrower) against any cost, expense (including
reasonable counsel fees and disbursements), claim, demand, action, loss or liability (except such
as result from such indemnitees’ gross negligence or willful misconduct) that such indemnitees may
suffer or incur in connection with this Agreement or any action taken or omitted by such
indemnitees hereunder.

30

 

     Section 7.07. Credit Decision. Each Lender acknowledges that it has, independently and
without reliance upon the Administrative Agent or any other Lender, and based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Agreement. Each Lender also acknowledges that it will, independently and without reliance
upon the Administrative Agent or any other Lender, and based on such documents and information as
it shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking any action under this Agreement.

     Section 7.08. Successor Administrative Agents. The Administrative Agent may resign at any
time by giving notice thereof to the Lenders and the Borrower. Upon any such resignation, the
Borrower shall, so long as no Default shall have occurred and be continuing, have the right, with
the consent of the Required Lenders, to appoint any of the Lenders as a successor Administrative
Agent. In the event that a Default has occurred and is continuing, the Required Lenders shall have
the right to appoint the successor Administrative Agent. If no successor Administrative Agent
shall have been so appointed, and shall have accepted such appointment, within 60 days after the
retiring Administrative Agent gives notice of resignation, the retiring Administrative Agent may,
on behalf of the Lenders, appoint a successor Administrative Agent, which shall be a commercial
bank organized or licensed under the laws of the United States of America or of any State thereof
and having a combined capital and surplus of at least $500,000,000. Upon the acceptance of its
appointment as an Administrative Agent hereunder by a successor Administrative Agent, such
successor Administrative Agent shall thereupon succeed to and become vested with all the
rights and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall
be discharged from its duties and obligations hereunder as Administrative Agent. After any
retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of
this Article shall inure to its benefit as to any actions taken or omitted to be taken by it while
it was Administrative Agent.

     Section 7.09. Administrative Agent’s Fees. The Borrower shall pay to the Administrative Agent
for its own account fees in the amounts and at the times previously agreed upon between the
Borrower and the Administrative Agent.

     Section 7.10. Other Agents. Nothing in this Agreement shall impose upon any Agent other than
the Administrative Agent, in its capacity as such an Agent, any obligation or liability whatsoever.

ARTICLE 8

Change in Circumstances

     Section 8.01. Increased Cost and Reduced Return; Capital Adequacy. (a) If after the date
hereof a Change in Law shall impose, modify or deem applicable any reserve, special deposit,
assessment or similar requirement (including, without limitation, any such requirement imposed by
the Board of Governors of the Federal Reserve System pursuant to Regulation D or otherwise, as
herein provided) against assets of, deposits with or for the account of, or credit extended by, any
Lender or shall impose on any Lender or the London interbank market any other condition affecting
its Euro-Dollar Loans, its Note or its obligations to make Euro-Dollar Loans and the result of any
of the foregoing is to increase the cost to such Lender (or its Applicable Lending Office) of
making or maintaining any Euro-Dollar Loan, or to reduce the

31

 

amount of any sum received or
receivable by such Lender under this Agreement or under its Note, by an amount deemed by such
Lender to be material, then, within 15 days after written demand therefor made through the
Administrative Agent, in the form of the certificate referred to in Section 8.01(c), the Borrower
shall pay to such Lender such additional amount or amounts as will compensate such Lender for such
increased cost or reduction; provided that the Borrower shall not be required to pay any such
compensation with respect to any period prior to the 30th day before the date of any such demand.

     (b) Without limiting the effect of Section 8.01(a) (but without duplication), if any Lender
determines at any time after the date on which this Agreement becomes effective that a Change in
Law will have the effect of increasing the amount of capital required to be maintained by such
Lender (or its Parent) based on the existence of such Lender’s Loans, Commitment and/or other
obligations hereunder, then the Borrower shall pay to such Lender, within 15 days after its written
demand therefor made through the Administrative Agent in the form of the certificate referred to in
Section 8.01(c), such additional amounts as shall be required to compensate such Lender for any
reduction in the rate of return on capital of such Lender (or its Parent) as a result of such
increased capital requirement; provided that the Borrower shall not be
required to pay any such compensation with respect to any period prior to the 30th day before
the date of any such demand; provided further, however, that to the extent (i) a Lender shall
increase its level of capital above the level maintained by such Lender on the date of this
Agreement and there has not been a Change in Law or (ii) there has been a Change in Law and a
Lender shall increase its level of capital by an amount greater than the increase attributable
(taking into consideration the same variables taken into consideration in determining the level of
capital maintained by such Lender on the date of this Agreement) to such Change in Law, the
Borrower shall not be required to pay any amount or amounts under this Agreement with respect to
any such increase in capital. Thus, for example, a Lender which is “adequately capitalized” (as
such term or any similar term is used by any applicable bank regulatory agency having authority
with respect to such Lender) may not require the Borrower to make payments in respect of increases
in such Lender’s level of capital made under the circumstances described in clause (i) or (ii)
above which improve its capital position from “adequately capitalized” to “well capitalized” (as
such term or any similar term is used by any applicable bank regulatory agency having authority
with respect to such Lender).

     (c) Each Lender will promptly notify the Borrower, through the Administrative Agent, of any
event of which it has knowledge, occurring after the date on which this Agreement becomes
effective, which will entitle such Lender to compensation pursuant to this Section 8.01 and will
designate a different Applicable Lending Office if such designation will avoid the need for, or
reduce the amount of, such compensation and will not, in the sole judgment of such Lender, be
otherwise disadvantageous to such Lender. A certificate of any Lender claiming compensation under
this Section 8.01 and setting forth the additional amount or amounts to be paid to it hereunder and
setting forth the basis for the determination thereof shall be conclusive in the absence of
manifest error. In determining such amount, such Lender shall act reasonably and in good faith,
and may use any reasonable averaging and attribution methods.

     Section 8.02. Substitute Rate. Anything herein to the contrary notwithstanding, if within two
Euro-Dollar Business Days, in the case of Euro-Dollar Loans, prior to the first day of an Interest
Period none of the Reference Banks is, for any reason whatsoever, being offered Dollars

32

 

for deposit
in the relevant market for a period and amount relevant to the computation of the rate of interest
on a Euro-Dollar Loan for such Interest Period, the Administrative Agent shall give the Borrower
and each Lender prompt notice thereof and on what would otherwise be the first day of such Interest
Period such Loans shall be made as Base Rate Loans.

     Section 8.03. Illegality. (a) Notwithstanding any other provision herein, if, after the date
on which this Agreement becomes effective, a Change in Law shall make it unlawful or impossible for
any Lender to (i) honor any Commitment it may have hereunder to make any Euro-Dollar Loan, then
such Commitment shall be suspended, or (ii) maintain any Euro-Dollar Loan, then all Euro-Dollar
Loans of such Lender then outstanding shall be converted into Base Rate Loans as provided in
Section 8.03(b), and any remaining Commitment of such Lender hereunder to make Euro-Dollar Loans
(but not other Loans) shall be immediately suspended, in either case until such Lender may again
make and/or maintain Euro-Dollar Loans (as the case may be), and borrowings from such Lender, at a
time when borrowings from the other Lenders are to be of Euro-Dollar Loans, shall be made,
simultaneously with such borrowings from the other Lenders, by way of Base Rate Loans. Upon
the occurrence of any such change, such Lender shall promptly notify the Borrower thereof
(with a copy to the Administrative Agent), and shall furnish to the Borrower in writing evidence
thereof certified by such Lender. Before giving any notice pursuant to this Section 8.03, such
Lender shall designate a different Applicable Lending Office if such designation will avoid the
need for giving such notice and will not, in the sole reasonable judgment of such Lender, be
otherwise disadvantageous to such Lender.

     (b) Any conversion of any outstanding Euro-Dollar Loan which is required under this Section
8.03 shall be effected immediately (or, if permitted by applicable law, on the last day of the
Interest Period therefor).

     Section 8.04. Taxes on Payments. (a) All payments pursuant to this Agreement shall be made
free and clear of and without any deduction or withholding for or on account of any present and
future taxes, assessments or governmental charges imposed by the United States, or any political
subdivision or taxing authority thereof or therein, excluding taxes imposed on its net income,
branch profit taxes and franchise taxes (all such non-excluded taxes being hereinafter called
“Taxes”), except as expressly provided in this Section 8.04. If any Taxes are imposed and required
by law to be deducted or withheld from any amount payable to any Lender, then the Borrower shall
(i) increase the amount of such payment so that such Lender will receive a net amount (after
deduction of all Taxes) equal to the amount due hereunder, (ii) pay such Taxes to the appropriate
taxing authority for the account of such Lender, and (iii) as promptly as possible thereafter, send
such Lender evidence of original or certified receipt showing payment thereof, together with such
additional documentary evidence as such Lender may from time to time require. If the Borrower
fails to perform its obligations under (ii) or (iii) above, the Borrower shall indemnify such
Lender for any incremental taxes, interest or penalties that may become payable as a result of any
such failure; provided, however, that the Borrower will not be required to make any payment to any
Lender under this Section 8.04 if withholding is required in respect of such Lender by reason of
such Lender’s inability or failure to furnish under subsection (c) an extension or renewal of a
Form W-8ECI or Form W-8BEN (or successor form), as applicable, unless such inability results from
an amendment to or a change in any applicable law or regulation or in the interpretation thereof by
any regulatory authority

33

 

(including without limitation any change in an applicable tax treaty),
which amendment or change becomes effective after the date hereof.

     (b) The Borrower shall indemnify the Administrative Agent and each Lender against any present
or future transfer taxes, stamp or documentary taxes, excise or property taxes, assessments or
charges made by any Governmental Authority by reason of the execution, delivery, registration or
enforcement of this Agreement or any Notes (hereinafter referred to as “Other Taxes”).

     (c) Subject to subsection (d) below, each Lender that is a foreign person (i.e. a person who
is not a United States person for United States federal income tax purposes) agrees that it shall
deliver to the Borrower (with a copy to the Administrative Agent) (i) within twenty Domestic
Business Days after the date on which this Agreement becomes effective, two duly completed copies
of United States Internal Revenue Service Form W-8ECI or W-8BEN, as appropriate, indicating that
such Lender is entitled to receive payments under this Agreement
without deduction or withholding of any United States federal income taxes, or is entitled to
a reduced rate of United States withholding taxes under an applicable income tax treaty, (ii) from
time to time, such extensions or renewals of such forms (or successor forms) as may reasonably be
requested by the Borrower but only to the extent such Lender determines that it may properly effect
such extensions or renewals under applicable tax treaties, laws, regulations and directives and
(iii) in the event of a transfer of any Loan to a subsidiary or affiliate of such Lender, a new
Internal Revenue Service Form W-8ECI or W-8BEN (or any successor form), as the case may be, for
such subsidiary or affiliate indicating that such subsidiary or affiliate is, on the date of
delivery thereof, entitled to receive payments under this Agreement without deduction or
withholding of any United States federal income taxes or is entitled to a reduced rate of United
States withholding tax under an applicable income tax treaty. The Borrower and the Administrative
Agent shall each be entitled to rely on such forms in its possession until receipt of any revised
or successor form pursuant to the preceding sentence.

     (d) If a Lender at the time it first becomes a party to this Agreement (or because of a change
in an Applicable Lending Office) is subject to a United States interest withholding tax rate in
excess of zero, withholding tax at such rate shall be considered excluded from Taxes. For any
period with respect to which a Lender has failed to provide the Borrower with the appropriate form
pursuant to Section 8.04(c) (unless such failure is due to a change in treaty, law or regulation,
or in the interpretation thereof by any regulatory authority, occurring subsequent to the date on
which a form originally was required to be provided), such Lender shall not be entitled to
additional payments under Section 8.04(a) with respect to Taxes imposed by the United States;
provided, however, that should a Lender, which is otherwise exempt from or subject to a reduced
rate of withholding tax, become subject to Taxes because of its failure to deliver a form required
hereunder, the Borrower shall take such steps as such Lender shall reasonably request to assist
such Lender to recover such Taxes.

     (e) If the Borrower is required to pay additional amounts to or for the account of any Lender
pursuant to this Section 8.04, then such Lender will change the jurisdiction of one or more
Applicable Lending Offices so as to eliminate or reduce any such additional payment which may
thereafter accrue if such change, in the judgment of such Lender, is not otherwise disadvantageous
to such Lender.

34

 

     (f) If any Lender is able to apply for any credit, deduction or other reduction in Taxes or
Other Taxes in an amount which is reasonably determined by such Lender to be material, which arises
by reason of any payment made by the Borrower pursuant to this Section 8.04, such Lender will use
reasonable efforts, excluding the institution of any judicial proceeding, to obtain such credit,
deduction or other reduction and, upon receipt thereof, will pay to the Borrower an amount, not
exceeding the amount of such payment by the Borrower, equal to the net after-tax value to such
Lender, in its good faith determination, of such part of such credit, deduction or other reduction
as it determines to be allocable to such payment by the Borrower, having regard to all of its
dealings giving rise to similar credits, deductions or other reductions during the same tax period
and to the cost of obtaining the same; provided, however, that (i) such Lender shall not be
obligated to disclose to the Borrower any information regarding its tax affairs or computations and
(ii) nothing contained in this Section 8.04(f) shall be construed so as to interfere with the right
of such Lender to arrange its tax affairs as it deems appropriate.

ARTICLE 9

Miscellaneous

     Section 9.01. Termination of Commitment of a Lender; New Lenders. (a) (1) Upon receipt of
notice from any Lender for compensation or indemnification pursuant to Section 8.01(c) or Section
8.04, (2) upon receipt of notice that the Commitment of a Lender to make Euro-Dollar Loans has been
suspended, the Borrower shall have the right to terminate the Commitment in full of such Lender (a
“Retiring Lender”). The termination of the Commitment of a Retiring Lender pursuant to this
Section 9.01(a) shall be effective on the tenth Domestic Business Day following the date of a
notice of such termination to the Retiring Lender through the Administrative Agent, subject to the
satisfaction of the following conditions:

     (i) in the event that on such effective date there shall be any Loans outstanding
hereunder, the Borrower shall have prepaid on such date (x) the aggregate principal amount
of such Loans held by the Retiring Lender only and (y) if and to the extent necessary, an
additional aggregate principal amount of the Loans of the other Lenders such that, after
giving effect to clause (iii) below, no Lender’s Credit Exposure shall exceed its Commitment
and the Total Exposure shall not exceed the Total Commitments; and

     (ii) in addition to the payment of the principal of the Loans held by the Retiring
Lender pursuant to clause (i) above, the Borrower shall have paid such Retiring Lender all
accrued interest thereon, and any other amounts then payable to it hereunder, including,
without limitation, all amounts payable by the Borrower to such Lender under Section 2.09 by
reason of the prepayment of Loans pursuant to clause (i) with respect to the period ending
on such effective date; provided that the provisions of Section 8.01, Section 8.04 and
Section 9.04 shall survive for the benefit of any Retiring Lender.

     Upon satisfaction of the conditions set forth in clauses (i) and (ii) above, such Lender
shall cease to be a Lender hereunder.

     (b) In lieu of the termination of a Lender’s Commitment pursuant to Section 9.01(a), the
Borrower may notify the Administrative Agent that the Borrower desires to replace such

35

 

Retiring
Lender with a new bank or banks (which may be one or more of the Lenders), which will purchase the
Loans and assume the Commitment of the Retiring Lender. Upon the Borrower’s selection of a bank to
replace a Retiring Lender, such bank’s agreement thereto and the fulfillment of the conditions to
assignment and assumption set forth in Section 9.08(c)(iii) such bank shall become a Lender
hereunder for all purposes in accordance with Section 9.08(c)(iii).

     Section 9.02. Notices. (a) All notices, requests and other communications to any party
hereunder shall be in writing (including bank wire, telex, facsimile transmission or similar
writing) and shall be given to such party: (i) in the case of the Borrower or the Administrative
Agent, at its address, facsimile number or telex number set forth on the signature pages hereof,
(ii) in the case of any Lender, at its address,
facsimile number or telex number set forth in its Administrative Questionnaire or (iii) in the
case of any party, such other address, facsimile number or telex number as such party may hereafter
specify for the purpose by notice to the Administrative Agent and the Borrower. Each such notice,
request or other communication shall be effective (x) if given by telex, when such telex is
transmitted to the telex number specified in this Section and the appropriate answerback is
received, (y) if given by facsimile transmission, when transmitted to the facsimile number
specified in this Section and confirmation of receipt is received or (z) if given by any other
means, when delivered at the address specified in this Section.

     (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communication (including e-mail and Internet or intranet websites) pursuant to
procedures approved by the Administrative Agent, provided that the foregoing shall not apply to
notices to any Lender pursuant to Article 2 if such Lender has notified the Administrative Agent
that it is incapable of receiving notices under such Article by electronic communication. The
Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to procedures approved by it,
provided that approval of such procedures may be limited to particular notices or communications.

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

     Section 9.03. No Waivers. No failure or delay by either Administrative Agent or any Lender in
exercising any right, power or privilege hereunder or under any Note shall operate as a waiver
thereof nor shall any single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. The rights and remedies herein
provided shall be cumulative and not exclusive of any rights or remedies provided by law.

36

 

     Section 9.04. Expenses; Indemnification. (a) The Borrower shall pay (i) reasonable
out-of-pocket expenses, including the reasonable fees and expenses of special counsel for the
Administrative Agent in connection with the preparation of this Agreement and (ii) if an Event of
Default occurs, all reasonable out-of-pocket expenses incurred by the Administrative Agent and the
Lenders, including reasonable fees and expenses of counsel, in connection with such Event of
Default and collection and other enforcement proceedings resulting therefrom.

     (b) The Borrower agrees to indemnify the Administrative Agent and each Lender, their
respective affiliates and the respective directors, officers, Administrative Agents and
employees of the foregoing (each an “Indemnitee”) and hold each Indemnitee harmless from and
against any and all liabilities, losses, damages, costs and reasonable expenses of any kind,
including, without limitation, the reasonable fees and disbursements of counsel, incurred by such
Indemnitee in response to or in defense of any investigative, administrative or judicial proceeding
brought or threatened against the Administrative Agent or any Lender relating to or arising out of
this Agreement or any actual or proposed use of proceeds of Loans; provided that no Indemnitee
shall have the right to be indemnified hereunder (i) to the extent such indemnification relates to
relationships between or among each of, or any of, the Administrative Agent, the Lenders or any
Assignee or Participant or (ii) for such Indemnitee’s own gross negligence or willful misconduct.

     Section 9.05. Pro Rata Treatment. Except as expressly provided in this Agreement, (a) each
borrowing from, and change in the Commitments of, the Lenders shall be made pro rata according to
their respective Commitments, and (b) each payment and prepayment on the Loans shall be made to all
the Lenders, pro rata in accordance with the unpaid principal amount of the Loans held by each of
them.

     Section 9.06. Sharing of Set-offs. Each Lender agrees that if it shall, by exercising any
right of set-off or counterclaim or otherwise, receive payment of a proportion of the aggregate
amount then due with respect to the Loans held by it which is greater than the proportion received
by any other Lender in respect of the aggregate amount then due with respect to the Loans held by
such other Lender, the Lender receiving such proportionately greater payment shall purchase such
participations in the Loans held by the other Lenders, and such other adjustments shall be made, as
may be required so that all such payments shall be shared by the Lenders pro rata; provided nothing
in this Section shall impair the right of any Lender to exercise any right of set-off or
counterclaim it may have and to apply the amount subject to such exercise to the payment of
indebtedness of the Borrower other than its indebtedness under this Agreement.

     Section 9.07. Amendments and Waivers. (a) Any provision of this Agreement or the Notes may be
amended or waived if, but only if, such amendment or waiver is in writing and is signed by the
Borrower and the Required Lenders (and, if the rights or duties of any Agent are affected thereby,
by it). Notwithstanding the foregoing, no such amendment or waiver shall,

          (i) unless signed by all affected Lenders,

     (A) increase any Commitment,

37

 

     (B) reduce the principal of or rate of interest on any Loan or any fees
hereunder,

     (C) postpone the date fixed for any payment of principal of or interest on any
loan or any fees hereunder or for termination of any Commitment; or,

          (ii) unless signed by all Lenders,

     (A) change the percentage of the Credit Exposures, which shall be required for
the Lenders or any of them to take any action under this Section or any other
provision of this Agreement,

     (B) amend or waive the provisions of this Section 9.07.

Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of
such Lender may not be increased or extended without the consent of such Lender.

     (b) The exercise by the Borrower of its right to decrease the Commitments pursuant to Section
2.06 shall not be deemed to require the consent of any party to this Agreement. For the avoidance
of doubt, the exercise by the Borrower of its option to increase the aggregate amount of the
Commitments pursuant to Section 2.11 shall not require the consent of any Person except for the
consent of the Administrative Agent, any Additional Lender and each Lender whose Commitment is to
be increased.

     Section 9.08. Successors and Assigns; Participations; Novation. (a) This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns; provided that, except in accordance with Section 5.04 and 5.07, the Borrower may not
assign or transfer any of its rights or obligations under this Agreement without the consent of all
Lenders.

     (b) Any Lender may, without the consent of the Borrower, but upon prior written notification
to the Borrower, at any time sell to one or more banks or other financial institutions (each a
“Participant”) participating interests in any Loan owing to such Lender, any Note held by such
Lender, the Commitment of such Lender hereunder and any other interest of such Lender hereunder.
In the event of any such sale by a Lender of a participating interest to a Participant, such
Lender’s obligations under this Agreement shall remain unchanged, such Lender shall remain solely
responsible for the performance thereof, such Lender shall remain the holder of its Note or Notes,
if any, for all purposes under this Agreement and the Borrower and the Administrative Agent shall
continue to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this Agreement. Any agreement pursuant to which a Lender may grant such a
participating interest shall provide that such Lender shall retain the sole right and
responsibility to enforce the obligations of the Borrower hereunder including, without limitation,
the right to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such participation agreement may provide that such Lender will not agree to any
modification, amendment or waiver of this Agreement described in

38

 

clause (A), (B) or (C) of Section
9.07(a)(i) affecting such Participant without the consent of the Participant; provided further that
such Participant shall be bound by any waiver, amendment or other decision that all Lenders shall
be required to abide by pursuant to a vote by Required Lenders. Subject to the provisions of
Section 9.08(d), the Borrower agrees that each Participant shall, to the extent provided in its
participation agreement, be entitled to the benefits of Article 8 with respect to its participating
interest. An assignment or other transfer which is not permitted
by subsection (c) or (g) below shall be given effect for purposes of this Agreement only to
the extent of a participating interest granted in accordance with this subsection (b).

     (c) (i) Any Lender may at any time sell to one or more Eligible Institutions (each an
“Assignee”) all or a portion of its rights and obligations under this Agreement and the Notes.
Each Assignee shall assume all such rights and obligations pursuant to an Assignment and Assumption
Agreement. In no event shall (A) any Loan of a transferor Lender (together with the Loan of any
affiliate of such Lender), after giving effect to any sale pursuant to this subsection (c), be less
than $5,000,000, (B) any Loan of an Assignee (together with the Loan of any affiliate of such
Assignee), after giving effect to any sale pursuant to this subsection (c), be less than
$5,000,000, except in each case as may result upon the transfer by a Lender of its Loan in its
entirety or (C) any sale pursuant to this subsection (c) result in the transferee Lender (together
with its affiliates) holding more than 45% of the Total Exposure, except to the extent that the
Borrower and the Administrative Agent’s consent to such sale.

     (ii) No interest may be sold by a Lender pursuant to this subsection (c) without the
prior written consent of the Administrative Agent and, so long as no Event of Default shall
exist at the time, the Borrower, which consents, in each case, shall not be unreasonably
withheld, provided however that sales to an affiliate of such Lender, or to another Lender,
will not require the consent of the Borrower. For the purposes of this subsection (c)(ii),
the withholding of consent by the Borrower shall not be deemed unreasonable if based solely
upon the Borrower’s desire to (A) balance relative loan exposures to such Eligible
Institution among all credit facilities of the Borrower or (B) avoid payment of any
additional amounts payable to such Eligible Institution under Article 8 which would arise
from such assignment.

     (iii) Upon (A) execution of an Assignment and Assumption Agreement, (B) delivery by the
transferor Lender of an executed copy thereof, together with notice that the payment
referred to in clause (C) below shall have been made, to the Borrower and the Administrative
Agent, (C) payment by such Assignee to such transferor Lender of an amount equal to the
purchase price agreed between such transferor Lender and such Assignee and (D) if the
Assignee is organized under the laws of any jurisdiction other than the United States or any
state thereof, evidence satisfactory to the Administrative Agent and the Borrower of
compliance with the provisions of Section 9.08(f), such Assignee shall for all purposes be a
Lender party to this Agreement and shall have all the rights and obligations of a Lender
under this Agreement to the same extent as if it were an original party hereto with a
Commitment as set forth in such Assignment and Assumption Agreement, and the transferor
Lender shall be released from its obligations hereunder to a correspondent extent, and no
further consent or action by the Borrower, the Lenders or the Administrative Agents shall be
required to effectuate such transfer.

39

 

Each Assignee shall be bound by any waiver, amendment
or other decision that all Lenders shall be required to abide by pursuant to a vote by
Required Lenders.

          (iv) Upon the consummation of any transfer to an Assignee pursuant to this subsection
(c), the transferor Lender, the Administrative Agent and the Borrower shall make appropriate
arrangements so that, if requested by the transferor Lender or the Assignee, a new Note or
Notes shall be delivered from the Borrower to the transferor
Lender and/or such Assignee. In connection with any such assignment, the Assignee or
the transferor Lender shall pay to the Administrative Agent an administrative fee for
processing such assignment in the amount of $3,500.

     (d) No Assignee, Participant or other transferee (including any successor Applicable Lending
Office) of any Lender’s rights shall be entitled to receive any greater payment under Section 8.01
than such Lender would have been entitled to receive with respect to the rights transferred, unless
such transfer is made with the Borrower’s prior written consent or by reason of the provisions of
Section 8.01 or Section 8.03 requiring such Lender to designate a different Applicable Lending
Office under certain circumstances or at a time when the circumstances giving rise to such greater
payment did not exist.

     (e) Each Lender may, upon the written consent of the Borrower, which consent shall not be
unreasonably withheld, disclose to any Participant or Assignee (each a “Transferee”) and any
prospective Transferee any and all financial information in such Lender’s possession concerning the
Borrower that has been delivered to such Lender by the Borrower pursuant to this Agreement or that
has been delivered to such Lender by the Borrower in connection with such Lender’s credit
evaluation prior to entering into this Agreement, subject in all cases to agreement by such
Transferee or prospective Transferee to comply with the provisions of Section 9.15.

     (f) If pursuant to subsection (c) of this Section 9.08, any interest in this Agreement or any
Note is transferred to any Assignee that is organized under the laws of any jurisdiction other than
the United States or any state thereof, the transferor Lender shall cause such Assignee,
concurrently with the effectiveness of such transfer, (i) to represent to the transferor Lender
(for the benefit of the transferor Lender, the Administrative Agents and the Borrower) that under
applicable law and treaties no taxes or only a reduced rate of withholding taxes (excluded from the
definition of Taxes under Section 8.04(d) will be required to be withheld by the Administrative
Agent, the Borrower or the transferor Lender with respect to any payments to be made to such
Assignee in respect of the Loans and (ii) to furnish to each of the transferor Lender, the
Administrative Agent and the Borrower two duly completed copies of the forms required by Section
8.04(c)(i).

     (g) Notwithstanding any provision of this Section 9.08 to the contrary, any Lender may assign
or pledge any of its rights and interests in the Loans to a Federal Reserve Bank without the
consent of the Borrower.

     Section 9.09. Visitation. Subject to restrictions imposed by applicable security clearance
regulations, the Borrower will upon reasonable notice permit representatives of any Lender at such
Lender’s expense to visit any of its major properties.

40

 

     Section 9.10. Collateral. Each of the Lenders represents to the Administrative Agent and each
of the other Lenders that it in good faith is not relying upon any “margin stock” (as defined in
Regulation U) as collateral in the extension or maintenance of the credit provided for in this
Agreement.

     Section 9.11. Reference Banks. If any Reference Bank assigns its rights and obligations
hereunder to an unaffiliated institution, the Borrower shall, in consultation with the
Administrative Agent, appoint another Lender to act as a Reference Bank hereunder. If the
Commitment of any Lender which is also a Reference Bank is terminated pursuant to the terms of this
Agreement, the Borrower may, in consultation with the Administrative Agent, appoint a replacement
Reference Bank.

     Section 9.12. Governing Law; Submission to Jurisdiction. This Agreement and each Note shall
be governed by and construed in accordance with the internal laws of the State of New York. Each
of the Borrower, the Administrative Agent and the Lenders hereby submits to the nonexclusive
jurisdiction of the United States District Court for the Southern District of New York and of any
New York State Court sitting in New York for purposes of all legal proceedings arising out of or
relating to this Agreement or the transactions contemplated hereby. Each of the Borrower, the
Administrative Agent and the Lenders irrevocably waives, to the fullest extent permitted by law,
any objection which it may now or hereafter have to the laying of the venue of any such proceeding
brought in such a court and any claim that any such proceeding brought in such a court has been
brought in an inconvenient forum.

     Section 9.13. Counterparts; Integration. This Agreement may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument. This Agreement constitutes the entire agreement and
understanding among the parties hereto and supersedes any and all prior agreements and
understandings, oral or written, relating to the subject matter hereof.

     Section 9.14. WAIVER OF JURY TRIAL. EACH OF THE BORROWER, THE AGENTS AND THE LENDERS HEREBY
IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     Section 9.15. Confidentiality. Each Lender agrees, with respect to any information delivered
or made available by the Borrower to it that is clearly indicated to be confidential information or
private data, to use all reasonable efforts to protect such confidential information from
unauthorized use or disclosure and to restrict disclosure to only those Persons employed or
retained by such Lender who are or are expected to become engaged in evaluating, approving,
structuring or administering this Agreement and the transactions contemplated hereby. Nothing
herein shall prevent any Lender from disclosing such information (i) to any other Lender, (ii) to
its affiliates, officers, directors, employees, agents, attorneys and accountants who have a need
to know such information in accordance with customary banking practices and who receive such
information having been made aware of and having agreed to the restrictions set forth in this
Section, (iii) upon the order of any court or administrative agency, (iv) upon the request or
demand of any regulatory agency or authority having jurisdiction over such Lender, (v) which

41

 

has
been publicly disclosed, (vi) to the extent reasonably required in connection with any litigation
to which any Agent or Lender, the Borrower or their respective affiliates may be a party, (vii) to
the extent reasonably required
in connection with the exercise of any remedy hereunder, (viii) to any direct, indirect,
actual or prospective counterparty (and its advisor) to any swap, derivative or securitization
transaction related to the obligations under this Agreement, provided that such person agree to be
bound by the terms provided in this paragraph, and (ix) with the prior written consent of the
Borrower; provided however, that before any disclosure is permitted under (iii) or (vi) of this
Section 9.15, each Lender shall, if not legally prohibited, notify and consult with the Borrower,
promptly and in a timely manner, concerning the information it proposes to disclose, to enable the
Borrower to take such action as may be appropriate under the circumstances to protect the
confidentiality of the information in question, and provided further that any disclosure under the
foregoing proviso be limited to only that information discussed with the Borrower. The use of the
term “confidential” in this Section 9.15 is not intended to refer to data classified by the
government of the United States under laws and regulations relating to the handling of data, but is
intended to refer to information and other data regarded by the Borrower as private.

     Section 9.16. USA Patriot Act. Each Lender hereby notifies the Borrower that pursuant to the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies
the Borrower, which information includes the name and address of the Borrower and other information
that will allow such Lender to identify the Borrower in accordance with the Patriot Act.

42

 

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

	 	 	 	 	 
	 	MARTIN MARIETTA MATERIALS, INC.

 	 
	 	By:  	/s/ Anne H. Lloyd
 	 
	 	 	Name:  Anne H. Lloyd	 	 
	 	 	Title:    SVP, CFO AND Treasurer 	 
	 
	 	 	Address:  	2710 Wycliff Road

Raleigh, NC 27607 	 
	 	 	Facsimile:  	919-510-4700 	 
	 
	 	SUNTRUST BANK,

as Administrative Agent

 	 
	 	By:  	/s/ Robert Maddox
 	 
	 	 	Name: Robert Maddox 	 
	 	 	Title:   Director 	 
	 
	 	 	Address:  	303 Peachtree Street NE

Atlanta, GA 30308 	 
	 	 	Facsimile:  	 	 
	 

[Signature Page for Term Loan Agreement]

 

 

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

	 	 	 	 	 
	 	SUNTRUST BANK

as Lender

 	 
	 	By:  	/s/ Robert Maddox
 	 
	 	 	Name:  	Robert Maddox 	 
	 	 	Title:  	Director 	 
	 

[Signature Page for Term Loan Agreement]

 

 

	 	 	 	 	 
	 	BRANCH BANKING & TRUST COMPANY

as Lender

 	 
	 	By:  	/s/ Jack M. Frost
 	 
	 	 	Name:  	Jack M. Frost 	 
	 	 	Title:  	SVP 	 
	 

[Signature Page for Term Loan Agreement]

 

 

	 	 	 	 	 
	 	NORTHERN TRUST COMPANY

as Lender

 	 
	 	By:  	/s/ John C. Canty
 	 
	 	 	Name:  	John C. Canty 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Term Loan Agreement]

 

 

	 	 	 	 	 
	 	REGIONS BANK

as Lender

 	 
	 	By:  	/s/ Anthony Le Trent
 	 
	 	 	Name:  	Anthony Le Trent 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page for Term Loan Agreement]

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.

as Lender

 	 
	 	By:  	/s/ Scott Hitchens
 	 
	 	 	Name:  	Scott Hitchens 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page for Term Loan Agreement]

 

 

	 	 	 	 	 
	 	COMERICA BANK

as Lender

 	 
	 	By:  	/s/ Scott M. Kowalski
 	 
	 	 	Name:  	Scott M. Kowalski 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page for Term Loan Agreement]

 

 

COMMITMENT SCHEDULE

	 	 	 	 	 
	Lender	 	Commitment	 
	SunTrust Bank
	 	$	35,000,000	 
	Branch Banking & Trust Company
	 	$	25,000,000	 
	Northern Trust Company
	 	$	25,000,000	 
	Regions Bank
	 	$	20,000,000	 
	Bank of America, N.A.
	 	$	15,000,000	 
	Comerica Bank
	 	$	10,000,000	 
	 
	 	 	 
	 
	 	 	 	 
	Total
	 	$	130,000,000	 

 

 

PRICING SCHEDULE

     Each of “Base Rate Margin” and “Euro-Dollar Margin” means, for any day, the rate set forth
below (in basis points per annum) in the row opposite such term and in the column corresponding to
the Pricing Level that apply for such day:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pricing Level	 	Level I	 	Level II	 	Level III	 	Level IV	 	Level V
	Base Rate Margin
	 	 	100.0	 	 	 	125.00	 	 	 	175.00	 	 	 	200.00	 	 	 	250.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Euro-Dollar Margin
	 	 	200.00	 	 	 	225.00	 	 	 	275.00	 	 	 	300.00	 	 	 	350.00	 

     For purposes of this Schedule, the following terms have the following meanings, subject to the
further provisions of this Schedule:

     “Level I Pricing” applies at any date if, at such date, the Borrower’s long-term debt is rated
A or higher by S&P or A2 or higher by Moody’s.

     “Level II Pricing” applies at any date if, at such date, (i) the Borrower’s long-term debt is
rated A- or higher by S&P or A3 or higher by Moody’s and (ii) Level I Pricing does not exist.

     “Level III Pricing” applies at any date if, at such date, (i) the Borrower’s long-term debt is
rated BBB+ or higher by S&P or Baa1 or higher by Moody’s and (ii) neither Level I Pricing nor Level
II Pricing exists.

     “Level IV Pricing” applies at any date if, at such date, (i) the Borrower’s long-term debt is
rated BBB or higher by S&P or Baa2 or higher by Moody’s and (ii) none of Level I Pricing, Level II
Pricing and Level III Pricing exists.

     “Level V Pricing” applies at any date if, at such date, (i) the Borrower’s long-term debt is
rated BBB- or lower by S&P or Baa3 or lower by Moody’s and (ii) no other Pricing Level applies.

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

     “Pricing Level” refers to the determination of which of Level I, Level II, Level III, Level IV
or Level V applies at any date.

     “S&P” means Standard & Poor’s (a division of The McGraw-Hill Companies, Inc.).

     The credit ratings to be utilized for purposes of this Schedule are those assigned to the
senior unsecured long-term debt securities of the Borrower without third-party credit enhancement,
and any rating assigned to any other debt security of the Borrower shall be disregarded. In the
case of split ratings from Moody’s and S&P, the Pricing Level will be determined as if both S&P and
Moody’s assigned ratings one notch higher than the lower of the two. The ratings in effect for any
day are those in effect at the close of business on such day. The ratings in effect for any day
are those in effect at the close of business on such day, and the
Base Rate Margin and the Euro-Dollar Margin may change from time to time during any Interest Period
as a result of changes in the Pricing Level during such Interest Period.

 

 

SCHEDULE 5.11(c)

	 	 	 	 	 
	Investment	 	 	 	 
	 
	 
	 	 	 	 
	American Stone
	 	$	3,536,420	 
	Concrete Supply
	 	 	13,198,000	 
	Granite Canyon Joint Venture
	 	 	3,683,131	 
	Hunt Martin Materials, LLC *
	 	 	32,532,297	 
	Mid-South Weaver Joint Venture
	 	 	206,378	 
	MTD Pipeline LLC
	 	 	4,793,465	 
	Valley Stone, LLC
	 	 	274,800	 
	 
	 	 	 
	 
	 	 	 	 
	 
	 	 	58,224,491	 
	 
	 	 	 

 

			
	*	 	In addition to this equity investment, there are commitments to provide a $7,000,000 revolving
credit facility for working capital purposes and a $33,810,019 term loan for capital projects.

 

 

SCHEDULE 5.11(d)

	 	 	 	 	 
	Related Businesses	 	 	 	 
	Composite technology

	Ready mixed concrete

	Asphalt

	Laydown

	Trucking/transportation/rail cars

and related equipment

	Loading/unloading services

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]