Document:

exv10w1

Exhibit 10.1

EXECUTION COPY

 

 

FIVE-YEAR CREDIT AGREEMENT

dated as of April 14, 2011,

among

HESS CORPORATION,

HESS OIL AND GAS HOLDINGS INC.,

HESS OIL VIRGIN ISLANDS CORPORATION and

HESS INTERNATIONAL HOLDINGS LIMITED,

as initial Borrowing Subsidiaries,

THE LENDERS PARTY HERETO,

and

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

 

CITIGROUP GLOBAL MARKETS INC.,

THE ROYAL BANK OF SCOTLAND PLC,

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. and

GOLDMAN SACHS BANK USA,

as Syndication Agents

BANK OF AMERICA, N.A.

BNP PARIBAS and

DNB NOR BANK ASA

as Co-Arrangers and Co-Syndication Agents

BAYERISCHE LANDESBANK,

DEUTSCHE BANK AG

HSBC BANK USA N.A. and

THE BANK OF NOVA SCOTIA

as Co-Documentation Agents

J.P. MORGAN SECURITIES LLC,

CITIGROUP GLOBAL MARKETS INC.,

RBS SECURITIES INC.,

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. and

GOLDMAN SACHS BANK USA,

as Joint Lead Arrangers and Joint Bookrunners

 

$4,000,000,000 REVOLVING CREDIT FACILITY

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 

	ARTICLE I

	 	 	 
	 	 	 	 
	Definitions

	 	 	 
	 	 	 	 
	SECTION 1.01.	 	Defined Terms
	 	 	1	 
	SECTION 1.02.	 	Classification of Loans and Borrowings
	 	 	20	 
	SECTION 1.03.	 	Terms Generally
	 	 	20	 
	SECTION 1.04.	 	Accounting Terms; GAAP
	 	 	21	 
	 	 	 
	 	 	 	 
	ARTICLE II

	 	 	 
	 	 	 	 
	The Credits

	 	 	 
	 	 	 	 
	SECTION 2.01.	 	Commitments
	 	 	21	 
	SECTION 2.02.	 	Loans and Borrowings
	 	 	21	 
	SECTION 2.03.	 	Requests for Revolving Borrowings
	 	 	22	 
	SECTION 2.04.	 	Bid Procedure for Competitive Loans
	 	 	23	 
	SECTION 2.05.	 	Swingline Loans
	 	 	25	 
	SECTION 2.06.	 	Letters of Credit
	 	 	27	 
	SECTION 2.07.	 	Funding of Borrowings
	 	 	33	 
	SECTION 2.08.	 	Interest Elections
	 	 	33	 
	SECTION 2.09.	 	Termination, Reduction, Extension and Increase of Commitments
	 	 	35	 
	SECTION 2.10.	 	Repayment of Loans; Evidence of Debt
	 	 	38	 
	SECTION 2.11.	 	Prepayment of Loans
	 	 	39	 
	SECTION 2.12.	 	Fees
	 	 	39	 
	SECTION 2.13.	 	Interest
	 	 	41	 
	SECTION 2.14.	 	Alternate Rate of Interest
	 	 	42	 
	SECTION 2.15.	 	Increased Costs
	 	 	43	 
	SECTION 2.16.	 	Break Funding Payments
	 	 	45	 
	SECTION 2.17.	 	Taxes
	 	 	45	 
	SECTION 2.18.	 	Payments Generally; Pro Rata Treatment; Sharing of Setoffs
	 	 	48	 
	SECTION 2.19.	 	Mitigation Obligations; Replacement of Lenders
	 	 	49	 
	SECTION 2.20.	 	Borrowing Subsidiaries
	 	 	50	 
	SECTION 2.21.	 	Defaulting Lenders
	 	 	51	 
	 	 	 
	 	 	 	 
	ARTICLE III

	 	 	 
	 	 	 	 
	Representations and Warranties

	 	 	 
	 	 	 	 
	SECTION 3.01.	 	Corporate
Existence and Power; Compliance with Law and Agreements
	 	 	53	 

 

 

	 	 	 	 	 	 	 

	SECTION 3.02.	 	Corporate Authority
	 	 	54	 
	SECTION 3.03.	 	Enforceability
	 	 	54	 
	SECTION 3.04.	 	Financial Condition; No Material Adverse Effect
	 	 	54	 
	SECTION 3.05.	 	Litigation
	 	 	54	 
	SECTION 3.06.	 	ERISA
	 	 	54	 
	SECTION 3.07.	 	Environmental Matters
	 	 	55	 
	SECTION 3.08.	 	Federal Regulations
	 	 	55	 
	SECTION 3.09.	 	Investment Company Status
	 	 	55	 
	SECTION 3.10.	 	Scheduled Debt
	 	 	55	 
	 	 	 
	 	 	 	 
	ARTICLE IV

	 	 	 
	 	 	 	 
	Conditions

	 	 	 
	 	 	 	 
	SECTION 4.01.	 	Conditions to Effectiveness
	 	 	55	 
	SECTION 4.02.	 	Conditions to Each Credit Event
	 	 	56	 
	SECTION 4.03.	 	Conditions to Initial Borrowing by each Borrowing Subsidiary
	 	 	57	 
	 	 	 
	 	 	 	 
	ARTICLE V

	 	 	 
	 	 	 	 
	Affirmative Covenants

	 	 	 
	 	 	 	 
	SECTION 5.01.	 	Financial Statements and Other Information
	 	 	58	 
	SECTION 5.02.	 	Notices of Material Events
	 	 	59	 
	SECTION 5.03.	 	Existence; Conduct of Business
	 	 	60	 
	SECTION 5.04.	 	Compliance with Contractual Obligations
	 	 	60	 
	SECTION 5.05.	 	Insurance
	 	 	60	 
	SECTION 5.06.	 	Compliance with Laws
	 	 	60	 
	SECTION 5.07.	 	Use of Proceeds
	 	 	60	 
	 	 	 
	 	 	 	 
	ARTICLE VI

	 	 	 
	 	 	 	 
	Negative Covenants

	 	 	 
	 	 	 	 
	SECTION 6.01.	 	Liens
	 	 	61	 
	SECTION 6.02.	 	Fundamental Changes
	 	 	62	 
	SECTION 6.03.	 	Restrictive Agreements
	 	 	63	 
	SECTION 6.04.	 	Future Subsidiary Guaranties
	 	 	63	 
	SECTION 6.05.	 	Capitalization Ratios
	 	 	63	 

 

 

	 	 	 	 	 	 	 

	ARTICLE VII

	 	 	 
	 	 	 	 
	Events of Default

	 	 	 
	 	 	 	 
	ARTICLE VIII

	 	 	 
	 	 	 	 
	The Administrative Agent

	 	 	 
	 	 	 	 
	ARTICLE IX

	 	 	 
	 	 	 	 
	Guarantee

	 	 	 
	 	 	 	 
	ARTICLE X

	 	 	 
	 	 	 	 
	Miscellaneous

	 	 	 
	 	 	 	 
	SECTION 10.01.	 	Notices
	 	 	70	 
	SECTION 10.02.	 	Waivers; Amendments
	 	 	71	 
	SECTION 10.03.	 	Expenses; Indemnity; Damage Waiver
	 	 	72	 
	SECTION 10.04.	 	Successors and Assigns
	 	 	74	 
	SECTION 10.05.	 	Survival
	 	 	76	 
	SECTION 10.06.	 	USA PATRIOT Act
	 	 	77	 
	SECTION 10.07.	 	Counterparts; Integration; Effectiveness
	 	 	77	 
	SECTION 10.08.	 	Severability
	 	 	77	 
	SECTION 10.09.	 	Right of Setoff
	 	 	77	 
	SECTION 10.10.	 	Governing Law; Jurisdiction; Consent to Service
of Process; Process Agent; Waiver of Immunity
	 	 	78	 
	SECTION 10.11.	 	WAIVER OF JURY TRIAL
	 	 	78	 
	SECTION 10.12.	 	Headings
	 	 	79	 
	SECTION 10.13.	 	Confidentiality
	 	 	79	 
	SECTION 10.14.	 	No Fiduciary Relationship
	 	 	80	 
	 	 	 
	 	 	 	 
	SCHEDULES:
	 	 	 
	 	 	 	 
	Schedule 2.01	 	Commitments
	 	 	 	 
	Schedule 2.06	 	LC Commitments
	 	 	 	 
	Schedule 3.10	 	Scheduled Debt
	 	 	 	 
	Schedule 6.01	 	Existing Liens
	 	 	 	 

 

 

	 	 	 	 	 	 	 

	EXHIBITS:
	 	 	 
	 	 	 	 
	Exhibit A	 	Form of Assignment and Acceptance
	 	 	 	 
	Exhibit B	 	Form of Note
	 	 	 	 
	Exhibit C-1	 	Form of Opinion of Counsel to the Company
	 	 	 	 
	Exhibit C-2	 	Form of Opinion of Counsel to the Borrowing Subsidiaries
	 	 	 	 
	Exhibit D	 	Form of Notice of LC Activity
	 	 	 	 
	Exhibit E	 	Form of Notice of LC Request
	 	 	 	 
	Exhibit F-1	 	Form of Borrowing Subsidiary Agreement
	 	 	 	 
	Exhibit F-2	 	Form of Borrowing Subsidiary Termination
	 	 	 	 

 

 

 

     FIVE-YEAR CREDIT AGREEMENT dated as of April 14, 2011, among
HESS CORPORATION, a Delaware corporation; HESS OIL AND GAS HOLDINGS INC.,
a Cayman Islands exempted company incorporated with limited liability,
HESS OIL VIRGIN ISLANDS CORPORATION, a U.S. Virgin Islands corporation,
and HESS INTERNATIONAL HOLDINGS LIMITED, a Cayman Islands exempted company
incorporated with limited liability, as Borrowing Subsidiaries, and each
other Borrowing Subsidiary from time to time party hereto; the LENDERS
party hereto; and JPMORGAN CHASE BANK, N.A., as Administrative Agent.

          The parties hereto agree as follows:

ARTICLE I

Definitions

          SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

          “ABR”, when used in reference to any Loan or Borrowing, means that such Loan, or the
Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the
Alternate Base Rate.

          “Accommodation Guaranty Indebtedness” shall have the meaning ascribed to it in
clause (e) of Article VII.

          “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest
Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal
to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

          “Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as
administrative agent hereunder and under the other Loan Documents, and its successors in such
capacity as provided in Article VIII.

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

          “Affiliate” means, with respect to a specified Person, another Person that directly,
or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

 

2

          “Agents” means the Administrative Agent, the Syndication Agents and the Co-Syndication
Agents.

          “Agreement” means this Five- Year Revolving Credit Agreement.

          “Alternate Base Rate” means, for any day, a rate per annum equal to the highest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such
day plus 1/2 of 1% per annum and (c) the Adjusted LIBO Rate on such day (or if such day is not a
Business Day, the immediately preceding Business Day) for a deposit in dollars with a maturity of
one month plus 1%. For purposes of clause (c) above, the Adjusted LIBO Rate on any day shall be
based on the rate per annum appearing on the Reuters “LIBOR01” screen displaying British Bankers’
Association Interest Settlement Rates (or on any successor or substitute screen provided by
Reuters, or any successor to or substitute for such service, providing rate quotations comparable
to those currently provided on such screen, 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 Business Days prior to such
day for deposits in dollars with a maturity of one month. Any change in the Alternate Base Rate
due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall
be effective from and including the effective date of such change in the Prime Rate, the Federal
Funds Effective Rate or the Adjusted LIBO Rate, respectively.

          “Applicable Margin” means, for any day, (a) with respect to any Eurodollar Revolving
Loan, the applicable rate per annum set forth below under the caption “Eurodollar Spread” based
upon the Public Debt Ratings applicable on such day and (b) with respect to any ABR Revolving Loan,
the applicable rate per annum set forth below under the caption “ABR Spread” based upon the Public
Debt Ratings applicable on such day:

	 	 	 	 	 	 	 	 	 
	Public Debt Rating	 	 	 	 
	Moody’s/S&P/Fitch	 	Eurodollar Spread	 	ABR Spread
	Level I

> A3 / A- / A-

	 	 	1.100	%	 	 	0.100	%
	Level II 

Baa1 / BBB+ / BBB+

	 	 	1.175	%	 	 	0.175	%
	Level III 

Baa2 / BBB / BBB

	 	 	1.250	%	 	 	0.250	%
	Level IV 

Baa3 / BBB- / BBB-

	 	 	1.575	%	 	 	0.575	%
	Level V

< Baa3 / BBB- / BBB-

	 	 	1.850	%	 	 	0.850	%

 

3

          “Applicable Percentage” means, at any time, with respect to any Lender, the
percentage of the total Commitments represented by such Lender’s Commitment at such time;
provided that if any Defaulting Lender exists at such time, the Applicable Percentages
shall be calculated disregarding such Defaulting Lender’s Commitment. If the Commitments have
terminated or expired, the Applicable Percentages shall be determined based upon the Commitments
most recently in effect, giving effect to any assignments and to any Lender’s status as a
Defaulting Lender at the time of determination.

          “Applicable Rate” means, for any day, with respect to the Facility Fees payable
hereunder, the applicable rate per annum set forth below under the caption “Facility Fee Rate”,
based upon the Public Debt Ratings applicable on such day:

	 	 	 	 	 
	Public Debt	 	 
	Rating Moody’s/ S&P/Fitch	 	Facility Fee Rate
	Level I

> A3 / A-/ A-

	 	 	0.150	%
	Level II 

Baa1 / BBB+/ BBB+

	 	 	0.200	%
	Level III 

Baa2 / BBB/ BBB

	 	 	0.250	%
	Level IV 

Baa3 / BBB-/ BBB-

	 	 	0.300	%
	Level V

< Baa3 / BBB-/ BBB-

	 	 	0.400	%

          “Arrangers” means J.P. Morgan Securities LLC, Citigroup Global Markets Inc., RBS
Securities Inc., The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Goldman Sachs Bank USA, in their
capacities as the joint lead arrangers and joint bookrunners for the credit facility established
hereunder.

          “Assignment and Acceptance” means an assignment and acceptance entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section 10.04),
and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by
the Administrative Agent.

          “Augmenting Lender” has the meaning assigned to such term in Section 2.09(e).

          “Availability Period” means the period from and including the Effective Date to but
excluding the earlier of the Maturity Date and the date of termination of the Commitments.

 

4

          “Bankruptcy Event” means, with respect to any Person, that such Person has become the
subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar Person charged with the
reorganization or liquidation of its business appointed for it, or has taken any action indicating
its consent to, approval of or acquiescence in, any such proceeding or appointment;
provided that a Bankruptcy Event shall not result solely by virtue of any ownership
interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority;
provided, however, that such ownership interest does not result in or provide such
Person with immunity from the jurisdiction of courts within the United States of America or from
the enforcement of judgments or writs of attachment on its assets or permit such Person (or such
Governmental Authority) to reject, repudiate, disavow or disaffirm any agreements made by such
Person.

          “Board” means the Board of Governors of the Federal Reserve System of the United
States of America.

          “Borrower” means the Company or any Borrowing Subsidiary.

          “Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued
on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in
effect, (b) a Swingline Loan or (c) a Competitive Loan or group of Competitive Loans of the same
Type made on the same date and as to which a single Interest Period is in effect.

          “Borrowing Request” means a request by a Borrower for Revolving Loans or Swingline
Loans in accordance with Section 2.03 or 2.05, as applicable.

          “Borrowing Subsidiary” means (a) each of Hess Oil and Gas Holdings Inc., a Cayman
Islands exempted company incorporated with limited liability, Hess Oil Virgin Islands Corporation,
a U.S. Virgin Islands corporation, and Hess International Holdings Limited, a Cayman Islands
exempted company incorporated with limited liability, each a Consolidated Subsidiary, and (b) each
other Subsidiary that has been designated as a Borrowing Subsidiary pursuant to Section 2.20, other
than any such Subsidiary that has ceased to be a Borrowing Subsidiary as provided in Section 2.20.

          “Borrowing Subsidiary Agreement” means a Borrowing Subsidiary Agreement substantially
in the form of Exhibit F-1, duly executed by the Company and a Subsidiary and approved by the
Administrative Agent.

          “Borrowing Subsidiary Termination” means a Borrowing Subsidiary Termination
substantially in the form of Exhibit F-2, duly executed by the Company.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that the term “Business Day” shall also exclude, when used in connection with a
Eurodollar Loan, any day on which banks are not open for dealings in dollar deposits in the London
interbank market.

 

5

          “Capital Lease” means, with respect to any Person which is the lessee thereunder, any
lease or charter of property, real or personal, which would, in accordance with GAAP, be recorded
as an asset under a capital lease on a balance sheet of such Person.

          “Capitalized Lease Obligation” means, with respect to any Person on any date, the
amount which would, in accordance with GAAP, be recorded as an obligation under a Capital Lease on
a balance sheet of such Person as lessee under such Capital Lease as at such date. For all
purposes of this Agreement, Capitalized Lease Obligations shall be deemed to be Debt secured by a
Lien.

          “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender (or, for purposes of Section 2.15(b), by any lending office of such Lender
or by such Lender’s holding company, if any) with any request, rule, guideline or directive
(whether or not having the force of law) of any Governmental Authority made or issued after the
date of this Agreement; provided that, notwithstanding anything herein to the contrary, (i)
the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines
or directives thereunder or issued in connection therewith and (ii) all requests, rules guidelines
or directives concerning capital adequacy promulgated by the Bank for International Settlements,
the Basel Committee on Banking Regulations and Supervisory Practices (or any successor similar
authority) or the United States financial regulatory authorities, in each case pursuant to Basel
III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted,
promulgated or issued.

          “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are Revolving Loans, Swingline Loans or Competitive Loans.

          “Code” means the Internal Revenue Code of 1986, as amended from time to time.

          “Co-Documentation Agents” means Bayerische Landesbank, Deutsche Bank AG, HSBC Bank USA
N.A. and The Bank of Nova Scotia, in their capacities as the co-documentation agents with respect
to the credit facility established hereby.

          “Commitment” means, with respect to each Lender, the commitment of such Lender to make
Revolving Loans and acquire participations in Letters of Credit and Swingline Loans, as such
commitment may be (a) reduced or increased from time to time pursuant to Section 2.09 and
(b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to
Section 10.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, in an
incremental commitment agreement referred to in Section 2.09(e) pursuant to which such Commitment
is established or in the Assignment and Acceptance pursuant to which such Lender shall have assumed
its Commitment, as applicable.

 

6

          “Commitment Increase” has the meaning assigned to such term in Section 2.09(e).

          “Company” means Hess Corporation, a Delaware corporation.

          “Company Capitalization Ratio” means, on any date, the ratio, expressed as a
percentage, of (a) Total Consolidated Debt of the Company and its Consolidated Subsidiaries on such
date to (b) Total Capitalization of the Company and its Consolidated Subsidiaries on such date.

          “Competitive”, when used in reference to any Loan or Borrowing, means that such Loan,
or the Loans comprising such Borrowing, are being made in accordance with Section 2.04.

          “Competitive Bid” means an offer by a Lender to make a Competitive Loan in accordance
with Section 2.04.

          “Competitive Bid Rate” means, with respect to any Competitive Bid, the Margin or the
Fixed Rate, as applicable, offered by the Lender making such Competitive Bid.

          “Competitive Bid Request” means a request by a Borrower for Competitive Bids in
accordance with Section 2.04.

          “Consenting Lender” has the meaning assigned to such term in Section 2.09(d).

          “Consolidated Current Liabilities” means, on any date, all amounts which, in
conformity with GAAP, would be classified as current liabilities on a consolidated balance sheet of
the Company and its Consolidated Subsidiaries as at such date.

          “Consolidated Intangibles” means, on any date, all assets of the Company and its
Consolidated Subsidiaries, determined on a consolidated basis, that would, in conformity with GAAP,
be classified as intangible assets on a consolidated balance sheet of the Company and its
Consolidated Subsidiaries as at such date, including, without limitation, unamortized debt discount
and expense, unamortized organization and reorganization expense, costs in excess of the fair
market value of acquired companies, patents, trade or service marks, franchises, trade names,
goodwill and the amount of all write-ups in the book value of assets resulting from any revaluation
thereof (other than revaluations arising out of foreign currency valuations in conformity with
GAAP).

          “Consolidated Net Tangible Assets” means, on any date, the amount equal to (a) the
amount that would, in conformity with GAAP, be included as assets on the consolidated balance sheet
of the Company and its Consolidated Subsidiaries as at such date minus (b) the sum of
(i) Consolidated Intangibles at such date and (ii) Consolidated Current Liabilities at such date.

 

7

          “Consolidated Subsidiaries” means, with respect to any Person on any date, all
Subsidiaries and other entities whose accounts are consolidated with the accounts of such Person as
of such date in accordance with the principles of consolidation reflected in the audited financial
statements most recently delivered in accordance with Section 5.01 (or, prior to the first such
delivery, referred to in Section 3.04).

          “Continuing Directors” has the meaning assigned to such term in clause (i) of
Article VII.

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

          “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto.

          “Co-Syndication Agents” means Bank of America, N.A., BNP Paribas and DnB Nor Bank ASA,
in their capacities as the co-syndication agents with respect to the credit facility established
hereby.

          “Credit Event” means each Borrowing and each issuance, renewal, extension or increase
of a Letter of Credit.

          “Credit Party” means the Administrative Agent, any Issuing Bank, the Swingline Lender
and each other Lender.

          “Debt” means, with respect to any Person, (a) indebtedness for borrowed money
(including, without limitation, indebtedness evidenced by debt securities), (b) obligations to pay
the deferred purchase price of property or services, except trade accounts payable in the ordinary
course of business, (c) Capitalized Lease Obligations, in the case of each of the foregoing
clauses (a) through (c), for which such Person or any of its Consolidated Subsidiaries shall be
liable as primary obligor or under any Guaranty of any such indebtedness or other such obligations
of an entity not included in such Person’s consolidated financial statements and (d) any such
indebtedness or other such obligations of any entity not included in such Person’s consolidated
financial statements secured in any manner by any Lien upon any assets of such Person or any of its
Consolidated Subsidiaries; provided that for purposes of the computation of any Debt under
this Agreement there shall be no duplication of any item of primary or other indebtedness or other
obligation referred to herein above, whether such item reflects the indebtedness or other
obligation of such Person or any of its Consolidated Subsidiaries or of any entity not included in
such Person’s consolidated financial statements; and provided further that when
computing Debt of the Company and its Consolidated Subsidiaries (other than for purposes of Section
6.01) the first $100,000,000 in the aggregate for which the Company and its Consolidated
Subsidiaries shall be liable under any Guaranty of any Debt of a Person the accounts of which are
not consolidated with the accounts of the Company in

 

8

its consolidated financial statements shall be
excluded from the computation of Debt of the Company and its Consolidated Subsidiaries.

          “Declining Lender” has the meaning assigned to such term in Section 2.09(d).

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

          “Defaulting Lender” means any Lender that (a) has failed, within two Business Days of
the date required to be funded or paid, (i) to fund any portion of its Loans, (ii) to fund any
portion of its participations in Letters of Credit or Swingline Loans or (iii) to pay to any Credit
Party any other amount required to be paid by it hereunder, unless, in the case of clause (i)
above, such Lender notifies the Administrative Agent in writing that such failure is the result of
such Lender’s good faith determination that a condition precedent to funding (specifically
identified in such writing, including, if applicable, by reference to a specific Default) has not
been satisfied, (b) has notified the Company or any Credit Party in writing, or has made a public
statement, to the effect that it does not intend or expect to comply with any of its funding
obligations under this Agreement (unless such writing or public statement indicates that such
position is based on such Lender’s good-faith determination that a condition precedent
(specifically identified in such writing, including, if applicable, by reference to a specific
Default) to funding a Loan cannot be satisfied) or generally under other agreements in which it
commits to extend credit, (c) has failed, within three Business Days after request by the
Administrative Agent or an Issuing Bank made in good faith to provide a certification in writing
from an authorized officer of such Lender that it will comply with its obligations to fund
prospective Loans and participations in then outstanding Letters of Credit and Swingline Loans;
provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c)
upon receipt of such certification by the Administrative Agent or such Issuing Bank, as applicable,
in form and substance reasonably satisfactory to the Administrative Agent or such Issuing Bank, as
applicable, or (d) has become, or the Lender Parent of which has become, the subject of a
Bankruptcy Event.

          “dollars” or “$” refers to lawful money of the United States of America.

          “Effective Date” means the date on which the conditions set forth in Section 4.01 are
satisfied.

          “Environmental Laws” means any and all federal, state, local and foreign statutes,
laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants,
franchises, licenses, agreements or other governmental restrictions relating to the environment or
the release of any materials into the environment.

          “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Company or any of its Consolidated Subsidiaries directly or

 

9

indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage,
treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the
release or threatened release of any Hazardous Materials into the environment or (e) any contract,
agreement or other consensual arrangement pursuant to which liability is assumed or imposed with
respect to any of the foregoing.

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

          “Eurodollar”, when used in reference to any Loan or Borrowing, means that such Loan,
or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to
the Adjusted LIBO Rate (or, in the case of a Competitive Loan, the LIBO Rate).

          “Event of Default” has the meaning assigned to such term in Article VII.

          “Excluded Taxes” means, with respect to any payment made by any Borrower under any
Loan Document, any of the following Taxes imposed on or with respect to a Credit Party: (a) income
or franchise taxes imposed on (or measured by) net income by (i) the United States of America (or
any political subdivision or taxing authority thereof or therein), or by the jurisdiction under the
laws of which such Credit Party is organized or in which its principal office is located or, in the
case of any Lender, in which its applicable lending office is located or (ii) any other
jurisdiction with which such Credit Party has a present or former connection (other than any such
connection arising solely from such Credit Party having executed, delivered or become a party to,
or performed its obligations or received a payment under, any Loan Document), (b) any branch
profits taxes imposed by the United States of America or any similar tax imposed by any other
jurisdiction in which any Lender or any Issuing Bank is located, (c) in the case of a Foreign
Lender (other than an assignee pursuant to a request by the Company under Section 2.19(b)) or any
foreign branch or Affiliate of a Lender caused by such Lender to make a Loan under Section 2.02(b),
any U.S. Federal withholding tax that is imposed on amounts payable to such Foreign Lender pursuant
to any laws in effect at the time such Foreign Lender becomes a party to this Agreement or such
foreign branch or Affiliate is caused to make such a Loan or is attributable to such Foreign
Lender’s or such foreign branch’s or Affiliate’s failure or inability to comply with Section
2.17(f), except to the extent that such Foreign Lender’s assignor (if any) was entitled, at the
time of assignment, to receive additional amounts from any Borrower with respect to such
withholding tax pursuant to Section 2.17(a) and (d) any U.S. Federal withholding Taxes imposed
under FATCA.

          “Existing Maturity Date” has the meaning assigned to such term in Section 2.09(d).

          “Facility Fee” has meaning ascribed to it in Section 2.12(a).

 

10

          “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement
(and any amended or successor version that is substantively comparable), and any regulations or
official interpretations thereof.

          “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received
by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.

          “Financial Officer” means, with respect to the Company, the chief financial officer,
principal accounting officer, treasurer or controller of the Company.

          “Fitch” means Fitch, Inc., or any successor to its rating agency business.

          “Fixed Rate” means, with respect to any Competitive Loan (other than a Eurodollar
Competitive Loan), the fixed rate of interest per annum specified by the Lender making such
Competitive Loan in its related Competitive Bid.

          “Fixed Rate Loan” means a Competitive Loan bearing interest at a Fixed Rate.

          “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than the United States of America. For purposes of this definition, the United States of
America, each State thereof and the District of Columbia shall be deemed to constitute a single
jurisdiction.

          “Fronting Fee” has the meaning assigned to such term in Section 2.12(b).

          “GAAP” means generally accepted accounting principles in the United States of America
as in effect from time to time (including any requirements thereof promulgated by the SEC).

          “Governmental Authority” means the government of the United States of America or any
other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

          “Guaranteed Obligations” means all the following obligations, when and as due, whether
at maturity, by acceleration, upon one or more dates set for prepayment or otherwise: (a) the
principal of and premium, if any, and interest (including interest accruing during the pendency of
any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed
or allowable in such proceeding) on all

 

11

Loans made to any Borrowing Subsidiary, (b) each payment
(including payments in respect of reimbursements of LC Disbursements and interest thereon) required
to be made under this Agreement in respect of any Letter of Credit issued for the account of any
Borrowing Subsidiary and (c) all other monetary obligations under this Agreement or any other Loan
Document, including fees, costs, expenses and indemnities, whether primary, secondary, direct,
contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding), of any Borrowing Subsidiary.

          “Guaranty” by any Person means any direct or indirect undertaking to assume, guaranty,
endorse, contingently agree to purchase or to provide funds for the payment of, or otherwise become
liable in respect of, any obligation of any other Person, excluding endorsements for collection or
deposit in the ordinary course of business.

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

          “in writing” means any written communication (including communication by facsimile and
electronic communication) delivered in accordance with Section 10.01.

          “Increase Effective Date” has the meaning assigned to such term in Section 2.09(e).

          “Increasing Lender” has the meaning assigned to such term in Section 2.09(e).

          “Indemnified Taxes” means Taxes, other than (a) Excluded Taxes and (b) Other Taxes.

          “Indemnitee” shall have the meaning ascribed to it in Section 10.03.

          “Information” shall have the meaning ascribed to it in Section 10.13.

          “Interest Election Request” means a request by a Borrower to convert or continue a
Revolving Borrowing in accordance with Section 2.08.

          “Interest Payment Date” means (a) with respect to any ABR Loan, the last day of each
March, June, September and December, (b) with respect to any Eurodollar Loan, the last day of the
Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a
Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day during
such Interest Period that occurs at intervals of three months’ duration after the first day of such
Interest Period, (c) with respect to any Swingline Loan, the day that such Loan is required to be
repaid and (d) with respect to

 

12

any Fixed Rate Loan, the last day of the Interest Period applicable
to the Borrowing of which such Loan is a part and, in the case of a Fixed Rate Borrowing with an
Interest Period of more than 90 days’ duration (unless otherwise specified in the applicable
Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at
intervals of 90 days’ duration after the first day of such Interest Period, and any other dates
that are specified in the applicable Competitive Bid Request as Interest Payment Dates with respect
to such Borrowing.

          “Interest Period” means (a) with respect to any Eurodollar Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is seven days (if generally available), or one, two, three or six months
thereafter, as the applicable Borrower may elect, and (b) with respect to any Fixed Rate Borrowing,
the period (which shall not be less than one day or more than 360 days) commencing on the date of
such Borrowing and ending on the date specified in the applicable Competitive Bid Request;
provided, that (i) if any Interest Period would end on a day other than a Business Day,
such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a
Eurodollar Borrowing only, such next succeeding Business Day would fall in the next calendar month,
in which case such Interest Period shall end on the next preceding Business Day, (ii) any Interest
Period of one month or more pertaining to a Eurodollar Borrowing that commences on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day
in the last calendar month of such Interest Period) shall end on the last Business Day of the last
calendar month of such Interest Period and (iii) except with respect to any Lender which otherwise
agrees, any Interest Period that otherwise would extend beyond the Maturity Date applicable to any
Lender shall end on the Maturity Date applicable to such Lender. For purposes hereof, the date of
a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a
Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or
continuation of such Borrowing.

          “Issuing Banks” means each of the Lenders listed on Schedule 2.05 and such other
Lenders, if any, that shall have become an Issuing Bank hereunder as provided in Section 2.06(k),
each in its capacity as the issuer of Letters of Credit hereunder, and its successors in such
capacity as provided in Section 2.06(i). Each Issuing Bank may, in its discretion, arrange for one
or more Letters of Credit to be issued by Affiliates of such Issuing Bank, in which case the term
“Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such
Affiliate.

          “Issuing Bank Agreement” has the meaning assigned to such term in Section 2.06(k).

          “Lease Accounting GAAP Change” has the meaning assigned to such term in Section 1.04.

          “LC Commitment” means, with respect to any Issuing Bank, the maximum permitted amount
of the LC Exposure that may be attributable to Letters of Credit that, subject to the terms and
conditions hereof, are required to be issued by such

 

13

Issuing Bank. The initial amount of each
Issuing Bank’s LC Commitment is set forth on Schedule 2.05 or, if such Issuing Bank is not listed
on such Schedule, as provided for in Section 2.06(i) or 2.06(k).

          “LC Disbursement” means a payment made by any Issuing Bank pursuant to a Letter of
Credit.

          “LC Notice Time” means, with respect to any requested issuance, amendment, renewal or
extension of a Letter of Credit, (a) 12:00 p.m., New York City time, at least two Business Days
(or, if such longer period shall have been requested by the Issuing Bank that is the issuer
thereof, at least three Business Days) in advance of the requested date of issuance, amendment,
renewal or extension or (b) such later time as may be approved by the Issuing Bank that is the
issuer thereof as the LC Notice Time with respect to such requested issuance, amendment, renewal or
extension.

          “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time and (b) the aggregate amount of all LC Disbursements
that have not yet been reimbursed by or on behalf of the Borrowers at such time. The LC Exposure
of any Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time.

          “LC Participation Fee” has the meaning assigned to such term in Section 2.12(b).

          “Lender Parent” means, with respect to any Lender, any Person in respect of which such
Lender is a Subsidiary.

          “Lenders” means the Persons listed on Schedule 2.01, any Augmenting Lender that shall
have become a party hereto pursuant to Section 2.09(e) and any other Person that shall have become
a party hereto pursuant to an Assignment and Acceptance, other than any such Person that ceases to
be a party hereto pursuant to an Assignment and Acceptance. Unless the context requires otherwise,
the term “Lenders” includes the Swingline Lender.

          “Letter of Credit” means any letter of credit issued pursuant to this Agreement.

          “LIBO Rate” means, with respect to each Interest Period pertaining to a Eurodollar
Loan, the rate per annum determined by the Administrative Agent to be the offered rate for deposits
in dollars with a term comparable to such Interest Period that appears on the Bloomberg’s British
Banker’s Association rate page at approximately 11:00 a.m., London time, two Business Days prior to
the beginning of such Interest Period; provided, however, that if at any time for
any reason such offered rate does not appear on the Bloomberg’s British Banker’s Association rate
page, “LIBO Rate” shall mean, with respect to each day during each Interest Period pertaining to a
Eurodollar Loan, the rate per annum equal to the average (rounded upward to the nearest 1/100
of 1%) of the respective rates notified to the Administrative Agent by the Reference

 

14

Bank, as the
rate, at which such Reference Banks are offered deposits in dollars at or about 11:00 a.m., London
time, two Business Days prior to the beginning of such Interest Period in the London interbank
market for delivery on the first day of such Interest Period for the number of days comprised
therein.

          “Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of
any kind (including any agreement to give any of the foregoing), any conditional sale or other
title retention agreement, or any lease in the nature thereof.

          “Loan Documents” means, collectively, this Agreement, each Borrowing Subsidiary
Agreement, each Borrowing Subsidiary Termination and all other agreements, instruments and
documents executed in connection herewith and therewith, in each case as the same may be amended,
restated, modified or otherwise supplemented from time to time.

          “Loans” means the loans made by the Lenders to the Borrowers pursuant to this
Agreement.

          “Margin” means, with respect to any Competitive Loan bearing interest at a rate based
on the LIBO Rate, the marginal rate of interest, if any, to be added to or subtracted from the LIBO
Rate to determine the rate of interest applicable to such Loan, as specified by the Lender making
such Loan in its related Competitive Bid.

          “Material Adverse Effect” means (a) when used in any representation and warranty or
covenant of any Borrower on and as of the date hereof, any event, development or circumstance that
has had or could reasonably be expected to have a material adverse effect on (i) the business,
assets, property or financial condition of the Company and its Consolidated Subsidiaries taken as a
whole, or (ii) the validity or enforceability of this Agreement or the rights and remedies of the
Administrative Agent, the Issuing Banks or the Lenders hereunder and (b) when used in any
representation and warranty or covenant of any Borrower on any date after the date hereof, any
change in the consolidated financial condition or operations of the Company and its Consolidated
Subsidiaries from that set forth in the audited consolidated financial statements of the Company as
of and for the fiscal year ended December 31, 2010, that is likely to affect materially and
adversely the Company’s ability to comply with Section 6.05 or to perform its other obligations to
the Lenders and the Issuing Banks under this Agreement.

          “Material Indebtedness” means Debt (other than the Loans and Letters of Credit) in an
aggregate principal amount exceeding $100,000,000.

          “Maturity Date” means April 14, 2016 or the applicable anniversary thereof as
determined in accordance with Section 2.09(d).

          “Maturity Extension Request” has the meaning assigned to such term in Section 2.09(d).

 

15

          “Moody’s” means Moody’s Investors Service, Inc., and any successor to its rating
agency business.

          “Non-Defaulting Lender” means, at any time, any Lender that is not a Defaulting Lender
at such time.

          “Non-Increasing Lender” has the meaning assigned to such term in Section 2.09(e).

          “Note” has the meaning ascribed to it in Section 2.10(e).

          “Notice of LC Activity” means a notice substantially in the form of Exhibit D hereto
delivered by an Issuing Bank to the Company and the Administrative Agent pursuant to Section
2.06(b) with respect to the issuance, amendment, renewal, extension or expiry of, or a drawing
under, a Letter of Credit.

          “Notice of LC Request” means a notice substantially in the form of Exhibit E hereto
delivered by a Borrower to an Issuing Bank and the Administrative Agent pursuant to Section 2.06(b)
with respect to a proposed Letter of Credit.

          “Other Taxes” means any present or future stamp, court, documentary, intangible,
recording, filing or similar excise or property Taxes that arise from any payment made under, from
the execution, delivery, performance, enforcement or registration of, or otherwise with respect to
any Loan Document.

          “Outstanding Loans” has the meaning assigned to such term in Section 2.09(e).

          “Participant” has the meaning ascribed to it in Section 10.04.

          “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.

          “Permitted Encumbrances” means:

     (a) Liens imposed by law for taxes that are not yet due or are being contested in good
faith by appropriate proceedings and as to which appropriate reserves have been set aside
in accordance with GAAP;

     (b) carriers’, warehousemen’s, mechanics’, materialmen’s, and repairmen’s Liens, Liens
for crew’s wages or salvage (or making deposits to release such Liens) and other like Liens
imposed by law, arising in the ordinary course of business and securing obligations that
are not overdue by more than 30 days or are being contested in good faith by appropriate
proceedings and as to which appropriate reserves have been set aside in accordance with
GAAP;

     (c) Liens on standard industry terms imposed by charter parties or under contracts of
affreightment;

 

16

     (d) Liens arising out of judgments or awards against the Company or any of its
Consolidated Subsidiaries with respect to which the Company or such Consolidated Subsidiary
at the time shall currently be prosecuting an appeal or proceedings for review and with
respect to which it shall have secured a stay of execution pending such appeal or
proceedings for review;

     (e) pledges and deposits made in the ordinary course of business in compliance with
workers’ compensation, unemployment insurance and other social security laws or
regulations;

     (f) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds or performance bonds, margin posted to secure payment
or performance under futures, forwards or Swap Agreements, and other obligations of a like
nature, in each case in the ordinary course of business;

     (g) easements, zoning restrictions, rights-of-way and similar encumbrances on real
property and imperfections of titles imposed by law or arising in the ordinary course of
business that do not secure any monetary obligations and do not materially detract from the
value of the affected property or interfere with the ordinary conduct of business of the
Company or any of its Consolidated Subsidiaries;

     (h) Liens on any oil and/or gas properties or other mineral interests of the Company
or any of its Consolidated Subsidiaries, whether developed or undeveloped, arising as
security for the Company’s or such Consolidated Subsidiary’s costs and expenses incurred by
it in connection with the exploration, development or operation of such properties, in
favor of a person who is conducting the exploration, development or operation of such
properties, or in connection with farmout, dry hole, bottom hole, communitization,
unitization, pooling and operating agreements and/or other agreements of like general
nature incident to the acquisition, exploration, development and operation of such
properties or as required by regulatory agencies having jurisdiction in the premises; and

     (i) overriding royalties, royalties, production payments, net profits interests or
like interests to be paid out of production from oil and/or gas properties or other mineral
interests of the Company or any of its Consolidated Subsidiaries, or to be paid out of the
proceeds from the sale of any such production;

provided that the term “Permitted Encumbrances” shall not include any Lien securing Debt.

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

 

17

          “Prime Rate” means the rate of interest per annum publicly announced from time to time
by JPMorgan Chase Bank, N.A., as its prime rate in effect at its principal office in New York City.
Each change in the Prime Rate shall be effective from and including the date such change is
publicly announced as being effective.

          “Public Debt Ratings” means the ratings assigned by S&P, Moody’s and Fitch to the
Company’s senior unsecured non-credit enhanced long term debt. For purposes of the foregoing,
(a) if only one or two of S&P, Moody’s and Fitch shall have in effect a Public Debt Rating, the
Applicable Rate and the Applicable Margin shall be determined by reference to the available
ratings; (b) if none of S&P, Moody’s and Fitch shall have in effect a Public Debt Rating, the
Applicable Rate and the Applicable Margin will be set in accordance with Level V under the
definition of “Applicable Rate” or “Applicable Margin”, as the case may be; (c) if the Public Debt
Ratings established by S&P, Moody’s and Fitch shall fall within different levels set forth in the
definition of “Applicable Rate” or “Applicable Margin”, the Applicable Rate and the Applicable
Margin shall be based upon the rating that is the lower of the two highest ratings,
provided that if the highest of such ratings is more than one level above the second
highest of such ratings, the Applicable Rate and the Applicable Margin shall be determined by
reference to the Level that is one Level above that corresponding to such second highest rating;
(d) if any Public Debt Ratings established by S&P, Moody’s or Fitch shall be changed, such change
shall be effective as of the date on which such change is first announced publicly by the rating
agency making such change; and (e) if S&P, Moody’s or Fitch shall change the basis on which ratings
are established, each reference to the Public Debt Rating announced by S&P, Moody’s or Fitch, as
the case may be, shall refer to the then equivalent rating by S&P, Moody’s or Fitch, as the case
may be.

          “Reference Banks” means JPMorgan Chase Bank, N.A., or such other bank or banks as may
from time to time be designated by the Company and approved by the Administrative Agent.

          “Register” has the meaning ascribed to it in Section 10.04.

          “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, members, partners, trustees, employees, agents
and advisors of such Person and such Person’s Affiliates.

          “Required Lenders” means, (a) at any time prior to the termination of the Commitments
pursuant to Article VII, Lenders having Revolving Credit Exposures and unused Commitments
representing more than 50% of the sum of the aggregate Revolving Credit Exposures and unused
Commitments at such time (provided that, for purposes of declaring the Loans to be due and
payable pursuant to Article VII, the outstanding Competitive Loans of the Lenders shall be included
in their respective Revolving Credit Exposures in determining the Required Lenders) and (b) for all
purposes after the Loans become due and payable pursuant to Article VII or the Commitments expire
or terminate, Lenders having outstanding Loans and LC Exposures representing more than 50% of the
sum of the aggregate outstanding principal amount of all Loans and LC Exposures.

 

18

          “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline
Exposure at such time.

          “Revolving Loan” means a Loan made pursuant to Section 2.03.

          “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc., and any successor to its rating agency business.

          “SEC” shall mean the United States Securities and Exchange Commission.

          “Scheduled Debt” has the meaning assigned to such term in Section 3.10.

          “Significant Subsidiary” shall mean, with respect to any Person on any date, a
Consolidated Subsidiary of such Person that as of such date satisfies the definition of a
“significant subsidiary” contained as of the date hereof in Regulation S-X of the SEC, and shall in
any event include, with respect to the Company, each Borrowing Subsidiary.

          “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve percentages (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board to which the Administrative Agent is subject for
eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the
Board). Such reserve percentages shall include those imposed pursuant to such Regulation D.
Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such
reserve requirements without benefit of or credit for proration, exemptions or offsets that may be
available from time to time to any Lender under such Regulation D or any comparable regulation.
The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any
change in any reserve percentage.

          “Subsequent Borrowings” has the meaning assigned to such term in Section 2.09(e).

          “Subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity (a) of which
securities or other ownership interests representing more than 50% of the equity or more than 50%
of the ordinary voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such
date, otherwise Controlled, by the parent or one or more Subsidiaries of the parent or by the
parent and one or more Subsidiaries of the parent.

          “Swap Agreement” means any interest rate, currency or commodity swap agreement or
other interest rate, currency or commodity price protection agreement capable of financial
settlement only.

 

19

          “Swap Payment Obligation” means, with respect to any Person, an obligation of such
Person to pay money, either in respect of a periodic payment or upon termination, to a counterparty
under a Swap Agreement, after giving effect to any netting arrangements between such Person and
such counterparty and such Person’s rights of setoff in respect of such obligation provided for in
such Swap Agreement.

          “Swingline Benchmark Rate” means, for any day, (a) the “ASK” rate for Federal Funds
appearing on the applicable page of the Bloomberg service (or on any successor or substitute page
of such service, or any successor to or substitute for such service, providing rate quotations
comparable to those currently provided on such page of such service, as determined by the
Administrative Agent from time to time for purposes of providing quotations of the offer rates
applicable to Federal Funds for a term of one Business Day), as such rate appears at the time the
“Swingline Benchmark Rate” is determined for such day for purposes hereof by the Administrative
Agent (and without giving effect to any changes thereto after such time or to any average or
composite of such rates for such day), or (b) if the rate referred to in clause (a) above is not
available at such time for any reason, then the Alternate Base Rate for such day. The Borrowers
understand and agree that the rate quoted from the Bloomberg service is a real-time rate that
changes from time to time.

          “Swingline Exposure” means, at any time, the aggregate principal amount of all
Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall
be its Applicable Percentage of the total Swingline Exposure at such time.

          “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender of the
Swingline Loans hereunder.

          “Swingline Loan” means a Loan made pursuant to Section 2.05.

          “Syndication Agents” means Citigroup Global Markets, Inc., The Royal Bank of Scotland
plc, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Goldman Sachs Bank USA, in their capacities as the
syndication agents with respect to the credit facility established hereby.

          “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.

          “Total Capitalization” of any Person on any date means the sum of (a) Total
Consolidated Debt of such Person on such date and (b) shareholders’ equity of such Person on such
date, determined on a consolidated basis in accordance with GAAP.

          “Total Consolidated Debt” of any Person on any date means all Debt of such Person and
its Consolidated Subsidiaries on such date, determined on a consolidated basis in accordance with
GAAP.

 

20

          “Total Exposure” means, with respect to any Lender at any time, the sum of (a) the
Revolving Credit Exposure of such Lender and (b) the aggregate outstanding principal amount of such
Lender’s Competitive Loans.

          “Transactions” means each of the execution, delivery and performance by the Borrowers
of this Agreement, each Borrowing Subsidiary Agreement, each Borrowing Subsidiary Termination, the
borrowing of Loans under this Agreement and the use of the proceeds thereof and the issuance of
Letters of Credit hereunder.

          “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted LIBO Rate, the Alternate Base Rate or, in the case of a Competitive Loan or Borrowing, the
LIBO Rate or a Fixed Rate.

          “USA PATRIOT Act” means the USA PATRIOT Improvement and Reauthorization Act, Title III
of Pub. L. 109-177 (signed into law March 9, 2009, as amended from time to time).

          “Withholding Agent” means any Borrower and the Administrative Agent.

          SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type
(e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving
Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving
Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g.,
a “Eurodollar Revolving Borrowing”).

          SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may 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 requires otherwise (a) any definition of or reference to any agreement (including this
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 permitted
successors and 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, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and
(e) the words “asset” and “property” shall be construed to have the same meaning and effect and to
refer to any and all tangible and intangible assets and properties, including cash, securities,
accounts and contract rights. References herein to the taking of any action hereunder of an
administrative nature by any Borrower shall be deemed to include references to the

 

21

Company taking
such action on such Borrower’s behalf and the Administrative Agent is expressly authorized to
accept any such action taken by the Company as having the same effect as if taken by such Borrower.

          SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, notwithstanding the foregoing, for purposes of
this Agreement (other than Section 5.01) GAAP shall be determined without giving effect to any
change thereto occurring after the date hereof as a result of the adoption of any proposals set
forth in the Proposed Accounting Standards Update, Leases (Topic 840), issued by the Financial
Accounting Standards Board on August 17, 2010, or any other proposals issued by the Financial
Accounting Standards Board in connection therewith, in each case if such change would require
treating any lease or similar agreement as a Capital Lease where such lease or similar agreement
was not required to be so treated under GAAP as in effect on the date hereof (any such change being
referred to herein as the “Lease Accounting GAAP Change”); provided further
that, if the Company notifies the Administrative Agent that the Company requests an amendment to
any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP
or in the application thereof on the operation of such provision (or if the Administrative Agent
notifies the Company that the Required Lenders request an amendment to any provision hereof for
such purpose), regardless of whether any such notice is given before or after such change in GAAP
or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in
effect and applied immediately before such change shall have become effective until such notice
shall have been withdrawn or such provision is amended in accordance herewith.

ARTICLE II

The Credits

          SECTION 2.01. Commitments. Subject to the terms and conditions set forth herein, each
Lender agrees to make Revolving Loans to the Company and the Borrowing Subsidiaries from time to
time during the Availability Period in an aggregate principal amount not exceeding the amount of
such Lender’s Commitment; provided that after giving effect to each Revolving Credit Loan
(a) no Lender’s Revolving Credit Exposure shall exceed such Lender’s Commitment and (b) the sum of
the Total Exposures of all the Lenders shall not exceed the sum of the Commitments of all the
Lenders. Within the foregoing limits and subject to the terms and conditions set forth herein, the
Borrowers may borrow, prepay and reborrow Revolving Loans.

          SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan shall be made as part of
a Borrowing consisting of Revolving Loans of the same Type made by the Lenders, ratably in
accordance with their respective Commitments. Each Competitive Loan shall be made in accordance
with the procedures set forth in

 

22

Section 2.04. The failure of any Lender to make any Loan required
to be made by it shall not relieve any other Lender of its obligations hereunder; provided
that the Commitments and Competitive Bids of the Lenders are several and no Lender shall be
responsible for any other Lender’s failure to make Loans as required.

          (b) Subject to Section 2.14, (i) each Revolving Borrowing shall be comprised entirely of ABR
Loans or Eurodollar Loans as the applicable Borrower may request in accordance herewith and shall
be in dollars and (ii) each Competitive Borrowing shall be comprised entirely of Eurodollar Loans
or Fixed Rate Loans as the applicable Borrower may request in accordance herewith and shall be in
dollars. Each Lender at its option may make any Loan by causing any domestic or foreign branch or
Affiliate of such Lender to make such Loan; provided that any exercise of such option shall
not affect the obligation of the applicable Borrower to repay such Loan in accordance with the
terms of this Agreement.

          (c) At the commencement of each Interest Period for any Eurodollar Revolving Borrowing, such
Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less
than $10,000,000. At the time that each ABR Revolving Borrowing is made, such Borrowing shall be
in an aggregate amount that is an integral multiple of $1,000,000; provided that an ABR
Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the
total Commitments or that is required to finance the reimbursement of an LC Disbursement as
contemplated by Section 2.06(e). Each Competitive Borrowing shall be in an aggregate amount that
is an integral multiple of $1,000,000 and not less than $10,000,000. Each Swingline Loan shall be
in an amount that is an integral multiple of $1,000,000; provided that a Swingline Loan may
be in an aggregate amount that is required to finance the reimbursement of an LC Disbursement as
contemplated by Section 2.06(e). Borrowings of more than one Type and Class may be outstanding at
the same time; provided that there shall not at any time be more than a total of 10
outstanding Eurodollar Revolving Borrowings.

          SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing,
the applicable Borrower shall notify the Administrative Agent of such request by telephone (a) in
the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business
Days before the date of the proposed Borrowing or (b) in the case of any ABR Borrowing, not later
than 11:00 a.m., New York City time, on the Business Day of the proposed Borrowing. Each such
telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by delivery to
the Administrative Agent of a written Borrowing Request in a form approved by the Administrative
Agent and signed by the applicable Borrower, or by the Company on behalf of the applicable
Borrower. Each such telephonic and written Borrowing Request shall specify the following
information in compliance with Section 2.02:

     (i) the Borrower requesting such Borrowing (or on whose behalf the Company is
requesting such Borrowing);

     (ii) the aggregate amount of the requested Borrowing;

 

23

     (iii) the date of such Borrowing, which shall be a Business Day;

     (iv) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;

     (v) in the case of a Eurodollar Borrowing, the initial Interest Period to be
applicable thereto, which shall be a period contemplated by the definition of the term
“Interest Period”; and

     (vi) the location and number of the account of the applicable Borrower to which funds
are to be disbursed or, in the case of any ABR Revolving Borrowing requested to finance the
reimbursement of an LC Disbursement as provided in Section 2.06(e), the identity of the
Issuing Bank that made such LC Disbursement.

If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving
Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any
requested Eurodollar Revolving Borrowing, then the applicable Borrower shall be deemed to have
selected an Interest Period of seven days (if generally available) or otherwise of one month’s
duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the
Administrative Agent shall advise each Lender of the details thereof and of the amount of such
Lender’s Loan to be made as part of the requested Borrowing.

          SECTION 2.04. Bid Procedure for Competitive Loans. (a) Subject to the terms and
conditions set forth herein, from time to time during the Availability Period any Borrower may
request Competitive Bids and may (but shall not have any obligation to) accept Competitive Bids and
borrow Competitive Loans; provided that after giving effect to each Competitive Loan (i)
the sum of the Total Exposures of all the Lenders shall not exceed the sum of the Commitments of
all the Lenders and (ii) in the event the Maturity Date shall have been extended as provided in
Section 2.09(d), the sum of the LC Exposure attributable to Letters of Credit expiring after any
Existing Maturity Date, the Competitive Loans maturing after such Existing Maturity Date and the
Swingline Exposure attributable to Swingline Loans maturing after such Existing Maturity Date shall
not exceed the sum of the Commitments that shall have been extended to a date after the latest
expiration date of such Letters of Credit and the latest maturity date of such Competitive Loans
and such Swingline Loans. To request Competitive Bids, the Company or the applicable Borrowing
Subsidiary shall notify the Administrative Agent of such request by telephone, (i) in the case of a
Eurodollar Competitive Borrowing, not later than 11:00 a.m., New York City time, four Business Days
before the date of the proposed Borrowing and (ii) in the case of a Fixed Rate Borrowing, not later
than 10:00 a.m., New York City time, one Business Day before the date of the proposed Borrowing.
Each such telephonic Competitive Bid Request shall be confirmed promptly by delivery to the
Administrative Agent of a written Competitive Bid Request in a form approved by the Administrative
Agent and signed by the applicable Borrower, or by the Company on behalf of the applicable
Borrower. Each such telephonic and written Competitive Bid Request shall specify the following
information in compliance with Section 2.02:

 

24

     (i) the Borrower requesting such Borrowing (or on whose behalf the Company is
requesting such Borrowing);

     (ii) the aggregate amount of the requested Borrowing;

     (iii) the date of such Borrowing, which shall be a Business Day;

     (iv) whether such Borrowing is to be a Eurodollar Borrowing or a Fixed Rate Borrowing;

     (v) the Interest Period to be applicable to such Borrowing, which shall be a period
contemplated by the definition of the term “Interest Period”;

     (vi) the maturity date of such Borrowing, which shall be no less than seven and no
more than 360 days from the requested date of such Borrowing; and

     (vii) the location and number of the applicable Borrower’s account to which funds are
to be disbursed, which shall comply with the requirements of Section 2.07.

Promptly following receipt of a Competitive Bid Request in accordance with this Section, the
Administrative Agent shall notify the Lenders of the details thereof by facsimile or other
electronic communication, inviting the Lenders to submit Competitive Bids.

          (b) Each Lender may (but shall not have any obligation to) make one or more Competitive Bids
to the applicable Borrower in response to a Competitive Bid Request. Each Competitive Bid by a
Lender must be in a form approved by the Administrative Agent and must be received in writing by
the Administrative Agent (i) in the case of a Eurodollar Competitive Borrowing, not later than 9:30
a.m., New York City time, three Business Days before the date of the proposed Borrowing and (ii) in
the case of a Fixed Rate Borrowing, not later than 9:30 a.m., New York City time, on the proposed
date of such Competitive Borrowing. Competitive Bids that do not conform substantially to the form
approved by the Administrative Agent may be rejected by the Administrative Agent, and the
Administrative Agent shall notify the applicable Lender of such rejection as promptly as
practicable. Each Competitive Bid shall specify (i) the principal amount (which shall be a minimum
of $5,000,000 and an integral multiple of $1,000,000 and which may equal the entire principal
amount of the Competitive Borrowing requested by the applicable Borrower) of the Competitive Loan
or Loans that the Lender is willing to make, (ii) the Competitive Bid Rate or Rates at which the
Lender is prepared to make such Loan or Loans (expressed as a percentage rate per annum in the form
of a decimal to no more than four decimal places) and (iii) the Interest Period applicable to each
such Loan and the last day thereof.

          (c) The Administrative Agent shall promptly notify the applicable Borrower in writing of the
Competitive Bid Rate and the principal amount specified in each Competitive Bid and the identity of
the Lender that shall have made such Competitive Bid.

 

25

          (d) Subject only to the provisions of this paragraph, a Borrower may accept or reject any
Competitive Bid, requested by it. The applicable Borrower shall notify the Administrative Agent by
telephone, confirmed promptly in writing in a form approved by the Administrative Agent, whether
and to what extent it has decided to accept or reject each Competitive Bid, (i) in the case of a
Eurodollar Competitive Borrowing, not later than 10:30 a.m., New York City time, three Business
Days before the date of the proposed Borrowing and (ii) in the case of a Fixed Rate Borrowing, not
later than 10:30 a.m., New York City time, on the proposed date of such Competitive Borrowing;
provided that (i) the failure of the applicable Borrower to give such notice shall be
deemed to be a rejection of each Competitive Bid, (ii) a Borrower shall not accept a Competitive
Bid made at a particular Competitive Bid Rate if such Borrower rejects a Competitive Bid made at a
lower Competitive Bid Rate, (iii) the aggregate amount of the Competitive Bids accepted by a
Borrower shall not exceed the aggregate amount of the requested Competitive Borrowing specified in
the related Competitive Bid Request, (iv) to the extent necessary to comply with clause (iii) of
this proviso, a Borrower may accept Competitive Bids at the same Competitive Bid Rate in part,
which acceptance, in the case of multiple Competitive Bids at such Competitive Bid Rate, shall be
made pro rata in accordance with the amount of each such Competitive Bid, and (v) except pursuant
to clause (iv) above, no Competitive Bid shall be accepted for a Competitive Loan unless such
Competitive Loan is in a minimum principal amount of $5,000,000 and an integral multiple of
$1,000,000; provided further that if a Competitive Loan must be in an amount less
than $5,000,000 because of the provisions of clause (iv) above, such Competitive Loan may be for a
minimum of $1,000,000 or any integral multiple thereof, and in calculating the pro rata allocation
of acceptances of portions of multiple Competitive Bids at a particular Competitive Bid Rate
pursuant to clause (iv) the amounts shall be rounded to integral multiples of $1,000,000 in a
manner determined by the applicable Borrower. A notice given by a Borrower pursuant to this
paragraph shall be irrevocable.

          (e) The Administrative Agent shall promptly notify each bidding Lender in writing whether or
not its Competitive Bid has been accepted (and, if so, the amount and Competitive Bid Rate so
accepted), and each successful bidder will thereupon become bound, subject to the terms and
conditions hereof, to make the Competitive Loan in respect of which its Competitive Bid has been
accepted.

          (f) If the Administrative Agent shall elect to submit a Competitive Bid in its capacity as a
Lender, it shall submit such Competitive Bid directly to the applicable Borrower at least one
quarter of an hour earlier than the time by which the other Lenders are required to submit their
Competitive Bids to the Administrative Agent pursuant to paragraph (b) of this Section.

          SECTION 2.05. Swingline Loans. (a) Subject to the terms and conditions set forth
herein, the Swingline Lender agrees to make Swingline Loans to the Company and the Borrowing
Subsidiaries from time to time during the Availability Period in an aggregate principal amount at
any time outstanding that will not result in (i) the aggregate principal amount of the outstanding
Swingline Loans exceeding

 

26

$400,000,000, (ii) the sum of the Total Exposures of all the Lenders exceeding the sum of the
Commitments of all the Lenders or (iii) the sum of the Swingline Exposure attributable to Swingline
Loans maturing after any Existing Maturity Date, the LC Exposure attributable to Letters of Credit
expiring after such Existing Maturity Date and the Competitive Loans maturing after such Existing
Maturity Date exceeding the sum of the Commitments that shall have been extended to a date after
the latest maturity date of such Swingline Loans and such Competitive Loans and the latest
expiration date of such Letters of Credit; provided that the Swingline Lender shall not be
required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing
limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay
and reborrow Swingline Loans.

          (b) To request a Swingline Loan, the applicable Borrower shall notify the Administrative
Agent of such request by telephone not later than 1:00 p.m., New York City time, on the day of the
proposed Swingline Loan. Each such telephonic Borrowing Request shall be irrevocable and shall be
confirmed promptly by delivery to the Administrative Agent of a written Borrowing Request in a form
approved by the Administrative Agent and the Swingline Lender and signed by the applicable
Borrower, or by the Company on behalf of the applicable Borrower. Each such telephonic and written
Borrowing Request shall specify the requested date (which shall be a Business Day) and the amount
of the requested Swingline Loan and the location and number of the account of the applicable
Borrower to which funds are to be disbursed or, in the case of any Swingline Loan requested to
finance the reimbursement of an LC Disbursement as provided in Section 2.06(e), the identity of the
Issuing Bank that has made such LC Disbursement. Promptly following the receipt of a Borrowing
Request in accordance with this Section, the Administrative Agent shall advise the Swingline Lender
of the details thereof. The Swingline Lender shall make each Swingline Loan available to the
applicable Borrower by means of a wire transfer to the account specified in such Borrowing Request
or to the applicable Issuing Bank, as the case may be, by 3:00 p.m., New York City time, on the
requested date of such Swingline Loan.

          (c) The Swingline Lender may by written notice given to the Administrative Agent not later
than 10:00 a.m., New York City time, on any Business Day require the Lenders to acquire
participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such
notice shall specify the aggregate amount of the Swingline Loans in which Lenders will be required
to participate. Promptly upon receipt of such notice, the Administrative Agent will give notice
thereof to each Lender, specifying in such notice such Lender’s Applicable Percentage of such
Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees to pay, upon
receipt of notice as provided above, to the Administrative Agent, for the account of the Swingline
Lender, such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Lender
acknowledges and agrees that, in making any Swingline Loan, the Swingline Lender shall be entitled
to rely, and shall not incur any liability for relying, upon the representation and warranty of the
Borrowers deemed made pursuant to Section 4.02. Each Lender further acknowledges and agrees that
its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute
and unconditional and shall not

 

27

be affected by any circumstance whatsoever, including the occurrence and continuance of a Default
or any reduction or termination of the Commitments, and that each such payment shall be made
without any offset, abatement, withholding or reduction whatsoever. Each Lender shall comply with
its obligation under this paragraph by wire transfer of immediately available funds, in the same
manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07
shall apply, mutatis mutandis, to the payment obligations of the Lenders pursuant
to this paragraph), and the Administrative Agent shall promptly remit to the Swingline Lender the
amounts so received by it from the Lenders. The Administrative Agent shall notify the applicable
Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and
thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and
not to the Swingline Lender. Any amounts received by the Swingline Lender from the Borrowers (or
other Persons on behalf of the applicable Borrower) in respect of a Swingline Loan after receipt by
the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted
to the Administrative Agent; any such amounts received by the Administrative Agent shall be
promptly remitted by the Administrative Agent to the Lenders that shall have made their payments
pursuant to this paragraph and to the Swingline Lender, as their interests may appear;
provided that any such payment so remitted shall be repaid to the Swingline Lender or to
the Administrative Agent, as applicable, if and to the extent such payment is required to be
refunded to the applicable Borrower for any reason. The purchase of participations in a Swingline
Loan pursuant to this paragraph shall not constitute a Loan and shall not relieve the applicable
Borrower of its obligations to repay such Swingline Loan.

          SECTION 2.06. Letters of Credit. (a) General. Subject to the terms and
conditions set forth herein, each of the Company and the Borrowing Subsidiaries, at its option, may
request any Issuing Bank or Issuing Banks to issue for the account of the Company or the applicable
Borrowing Subsidiary, as the case may be, Letters of Credit denominated in dollars, in form and on
terms reasonably acceptable to the Administrative Agent and the applicable Issuing Banks, at any
time and from time to time during the Availability Period. In the event of any inconsistency
between the terms and conditions of this Agreement and the terms and conditions of any form of
letter of credit application or other agreement submitted by such Borrower to, or entered into by
such Borrower with, any Issuing Bank relating to any Letter of Credit, the terms and conditions of
this Agreement shall control. A Letter of Credit issued by an Issuing Bank will only be of a type
approved for issuance hereunder by such Issuing Bank (it being understood and agreed that standby
Letters of Credit shall be deemed of the type that is approved). An Issuing Bank shall not be
under any obligation to issue any Letter of Credit if any order, judgment or decree of any
Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing
Bank from issuing such Letter of Credit, or any law, rule, regulation or orders of any Governmental
Authority applicable to such Issuing Bank or any request or directive (whether or not having the
force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall
prohibit, or request that such Issuing Bank refrain from, the issuance of letters of credit
generally or such Letter of Credit in particular or shall impose upon such Issuing Bank with
respect to

 

28

such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank
is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon
such Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the Effective
Date and which such Issuing Bank in good faith deems material to it.

          (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To
request the issuance of a Letter of Credit (or the amendment, renewal or extension of an
outstanding Letter of Credit), the Company or the applicable Borrowing Subsidiary shall hand
deliver or facsimile (or transmit by electronic communication, if arrangements for doing so have
been approved by the applicable Issuing Bank) to an Issuing Bank and the Administrative Agent, no
later than the applicable LC Notice Time, (i) a Notice of LC Request requesting the issuance of a
Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and
specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day),
the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this
Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and
such other information as shall be necessary to prepare, amend, renew or extend such Letter of
Credit and (ii) unless otherwise agreed to by the applicable Issuing Bank, a completed and executed
letter of credit application on such Issuing Bank’s standard form. A Letter of Credit shall be
issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of
each Letter of Credit the Borrowers shall be deemed to represent and warrant that), after giving
effect to such issuance, amendment, renewal or extension (i) the aggregate LC Exposure shall not
exceed the aggregate Commitments, (ii) the portion of the LC Exposure attributable to Letters of
Credit issued by any Issuing Bank shall not exceed the LC Commitment of such Issuing Bank (unless
otherwise agreed by such Issuing Bank) and (iii) the sum of the Total Exposures of all the Lenders
shall not exceed the sum of the Commitments of all the Lenders. A Letter of Credit shall not be
issued or renewed (other than any renewal pursuant to automatic renewal provisions thereof after
the date on which the applicable Issuing Bank ceases to have the right to prevent such extension),
or amended to increase the stated amount thereof or extend the expiration date thereof, if the
Issuing Bank that is the issuer thereof shall have received written notice from the Required
Lenders, the Administrative Agent or the Company, at least one Business Day prior to the requested
date of issuance or amendment of the applicable Letter of Credit, that one or more applicable
conditions contained in Section 4.02 shall not be satisfied. Each Issuing Bank shall promptly (and
in any event within one Business Day) notify the Administrative Agent of each issuance, amendment,
renewal, extension or expiry of, and of each drawing under, each Letter of Credit issued by such
Issuing Bank, and shall provide to the Administrative Agent such other information as the
Administrative Agent shall reasonably request as to the Letters of Credit issued by such Issuing
Bank. Without limiting the foregoing, each Issuing Bank shall deliver a Notice of LC Activity to
the Administrative Agent and the Company within one Business Day of the issuance, amendment,
renewal, extension or expiry of, and of each drawing under, a Letter of Credit issued by such
Issuing Bank. Such Notice of LC Activity shall include, to the extent applicable, (i) a copy of
the applicable Letter of Credit (or, if applicable, any

 

29

amendment thereof), (ii) information with respect to the stated amount, beneficiary and expiration
date of such Letter of Credit and (iii) information with respect to the amendment, renewal,
extension or expiry of, or drawing under, such Letter of Credit.

          (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the date that is 30 Business Days prior to the Maturity Date; provided that no
Letter of Credit may expire after the Maturity Date of any Declining Lender in accordance with
Section 2.09 if, after giving effect to such issuance, the aggregate Commitments of the Consenting
Lenders (including any replacement Lenders) for the period following such Maturity Date would be
less than the stated amount of the Letters of Credit expiring after such Maturity Date.

          (d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
applicable Issuing Bank or the Lenders, the Issuing Bank that is the issuer thereof hereby grants
to each Lender, and each Lender hereby acquires from such Issuing Bank, a participation in such
Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to
be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each
Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the
account of such Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by
such Issuing Bank and not reimbursed by the applicable Borrower on the date due as provided in
paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the
applicable Borrower for any reason. Each Lender acknowledges and agrees that its obligation to
acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or any
reduction or termination of the Commitments, and that each such payment shall be made without any
offset, abatement, withholding or reduction whatsoever. Each Lender further acknowledges and
agrees that, in issuing, amending, renewing or extending any Letter of Credit, the applicable
Issuing Bank shall be entitled to rely, and shall not incur any liability for relying, upon the
representation and warranty of the Borrowers deemed made pursuant to Section 2.06(b) or 4.02.

          (e) Reimbursement. If an Issuing Bank shall make any LC Disbursement in respect of a
Letter of Credit, the applicable Borrower shall reimburse such LC Disbursement by paying to the
Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York
City time, not later than the next Business Day following the date that such LC Disbursement is
made, if such Borrower shall have received notice of such LC Disbursement prior to 2:00 p.m., New
York City time, on the date such LC Disbursement is made, or, if such notice has not been received
by such Borrower prior to such time on such date, then not later than 12:00 noon, New York City
time, on the Business Day next following the date on which such Borrower receives such notice by
such time; provided that such Borrower may, subject to the conditions to borrowing set
forth herein, request in accordance with Section 2.03 or 2.05

 

30

that such payment be financed with an ABR Revolving Borrowing or a Swingline Loan in an equivalent
amount and, to the extent such Issuing Bank shall have received the proceeds thereof as
contemplated by Section 2.07(a), such Borrower’s obligation to make such payment shall be
discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan. If the
applicable Borrower fails to make such payment when due, the Administrative Agent shall notify each
Lender of the applicable LC Disbursement, the payment then due from such Borrower in respect
thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such
notice, each Lender shall pay to the Administrative Agent its Applicable Percentage of the payment
then due from such Borrower, in the same manner as provided in Section 2.07 with respect to Loans
made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment
obligations of the Lenders pursuant to this paragraph), and the Administrative Agent shall promptly
pay to the applicable Issuing Bank the amounts so received by it from the Lenders. Promptly
following receipt by the Administrative Agent of any payment from the applicable Borrower pursuant
to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing
Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such
Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any
payment made by a Lender pursuant to this paragraph to reimburse any Issuing Bank for any LC
Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as contemplated
above) shall not constitute a Loan and shall not relieve the applicable Borrower of its obligation
to reimburse such LC Disbursement.

          (f) Obligations Absolute. Each Borrower’s obligation to reimburse LC Disbursements
as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and
shall be performed strictly in accordance with the terms of this Agreement under any and all
circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other
document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any
respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by an
Issuing Bank under a Letter of Credit against presentation of a draft or other document that does
not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of
this Section, constitute a legal or equitable discharge of, or provide a right of setoff against,
any Borrower’s obligations hereunder. None of the Administrative Agent, the Lenders or the Issuing
Banks, or any of their Related Parties, shall have any liability or responsibility by reason of or
in connection with the issuance or transfer of any Letter of Credit or any payment or failure to
make any payment thereunder (irrespective of any of the circumstances referred to in the preceding
sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any
draft, notice or other communication under or relating to any Letter of Credit (including any
document required to make a drawing thereunder), any error in interpretation of technical terms or
any consequence arising from causes beyond the control of the Issuing Banks; provided that
the foregoing shall not be construed to excuse any Issuing Bank from liability to any Borrower to
the extent of any direct damages (as opposed to consequential damages, claims in respect of

 

31

which are hereby waived by each Borrower to the extent permitted by applicable law) suffered by
such Borrower that are caused by such Issuing Bank’s failure to exercise care when determining
whether drafts and other documents presented under a Letter of Credit comply with the terms
thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful
misconduct on the part of an Issuing Bank (as determined by a court of competent jurisdiction in a
final and non-appealable judgment), such Issuing Bank shall be deemed to have exercised care in
each such determination. In furtherance of the foregoing and without limiting the generality
thereof, the parties agree that, with respect to documents presented which appear on their face to
be in substantial compliance with the terms of a Letter of Credit, an Issuing Bank may, in its sole
discretion, either accept and make payment upon such documents without responsibility for further
investigation, regardless of any notice or information to the contrary, or refuse to accept and
make payment upon such documents if such documents are not in strict compliance with the terms of
such Letter of Credit.

          (g) Disbursement Procedures. Each Issuing Bank shall, promptly following its receipt
thereof, examine all documents purporting to represent a demand for payment under a Letter of
Credit. Each Issuing Bank shall promptly notify the Administrative Agent and the applicable
Borrower by telephone (confirmed in writing) of such demand for payment and whether such Issuing
Bank has made or will make an LC Disbursement thereunder; provided that any failure to give
or delay in giving such notice shall not relieve such Borrower of its obligation to reimburse such
Issuing Bank and the Lenders with respect to any such LC Disbursement.

          (h) Interim Interest. If an Issuing Bank shall make any LC Disbursement, then,
unless the applicable Borrower shall reimburse such LC Disbursement in full on the date such LC
Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and
including the date such LC Disbursement is made to but excluding the date that such Borrower
reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans;
provided that, if such Borrower fails to reimburse such LC Disbursement when due pursuant
to paragraph (e) of this Section, then Section 2.13(e) shall apply. Interest accrued pursuant to
this paragraph shall be for the account of the applicable Issuing Bank, except that interest
accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to
reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment,
and shall be payable on demand or, if no demand has been made, on the date on which the applicable
Borrower reimburses the applicable LC Disbursement in full.

          (i) Replacement of the Issuing Bank. Any Issuing Bank may be replaced at any time by
written agreement among the Company, the Administrative Agent and the successor Issuing Bank, and
consented to by the replaced Issuing Bank (such agreements and consent not to be unreasonably
delayed or withheld). The Administrative Agent shall notify the Lenders of any such replacement of
an Issuing Bank. At the time any such replacement shall become effective, the Borrowers shall pay
all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b).
From and after the effective date of any such replacement, (i) the successor Issuing Bank shall
have all the

 

32

rights and obligations of the replaced Issuing Bank under this Agreement with respect to Letters of
Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be
deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all
previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank
hereunder, the replaced Issuing Bank shall, unless otherwise provided in such written agreement,
remain a party hereto and shall continue to have all the rights and, if any Letters of Credit
issued by it shall continue to be outstanding, the obligations of an Issuing Bank under this
Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not
be required to issue additional Letters of Credit.

          (j) Cash Collateralization. If any Event of Default shall occur and be continuing,
on the Business Day that the Company receives notice from the Administrative Agent or the Required
Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposures
representing greater than 50% of the total LC Exposure) demanding the deposit of cash collateral
pursuant to this paragraph, the Company shall deposit in an account with the Administrative Agent,
in the name of the Administrative Agent and for the benefit of the Lenders, an amount in cash equal
to the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided
that the obligation to deposit such cash collateral shall become effective immediately, and such
deposit shall become immediately due and payable, without demand or other notice of any kind, upon
the occurrence of any Event of Default with respect to the Company described in clause (g) or (h)
of Article VII. Each such deposit shall be held by the Administrative Agent as collateral for the
payment and performance of the obligations of the Company and the Borrowing Subsidiaries under this
Agreement. The Administrative Agent shall have exclusive dominion and control, including the
exclusive right of withdrawal, over such account. Other than any interest earned on the investment
of such deposits, which investments shall be made at the option and sole discretion of the
Administrative Agent and at the Company’s risk and expense, such deposits shall not bear interest.
Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such
account shall be applied by the Administrative Agent to reimburse any Issuing Bank for LC
Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held
for the satisfaction of the reimbursement obligations of the Company and the Borrowing Subsidiaries
for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject
to the consent of Lenders with LC Exposures representing greater than 50% of the total LC
Exposure), be applied to satisfy other obligations of the Company and the Borrowing Subsidiaries
under this Agreement. If the Company is required to provide an amount of cash collateral hereunder
as a result of the occurrence of an Event of Default, such amount (to the extent not applied as
aforesaid) shall be returned to the Company within three Business Days after all Events of Default
have been cured or waived.

          (k) Designation of Additional Issuing Banks. From time to time, the Company may by
notice to the Administrative Agent and the Lenders designate as additional Issuing Banks one or
more Lenders that agree to serve in such capacity as provided below. The acceptance by a Lender of
any appointment as an Issuing Bank

 

33

hereunder shall be evidenced by an agreement (an “Issuing Bank Agreement”), which shall be
in a form satisfactory to the Company and the Administrative Agent, shall set forth the LC
Commitment of such Lender and shall be executed by such Lender, the Company and the Administrative
Agent and, from and after the effective date of such agreement, (i) such Lender shall have all the
rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents and
(ii) references herein and in the other Loan Documents to the term “Issuing Bank” shall be deemed
to include such Lender in its capacity as an Issuing Bank.

          SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to be
made by it hereunder on the proposed date thereof by wire transfer of immediately available funds
to the account of the Administrative Agent most recently designated by it for such purpose by
notice to the Lenders, such transfers to be made by (i) 12:00 p.m., New York City time, in the case
of Borrowings other than ABR Borrowings and (ii) 2:00 p.m., New York City time, in the case of ABR
Borrowings, in each case on the date such Loan is made; provided that Swingline Loans shall
be made as provided in Section 2.05. The Administrative Agent will make such amounts available to
the applicable Borrower by promptly crediting the amounts so received, in like funds, to an account
of such Borrower designated by such Borrower in the applicable Borrowing Request or Competitive Bid
Request; provided that ABR Revolving Loans made to refinance the reimbursement of an LC
Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the
applicable Issuing Bank.

          (b) Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed time of any Borrowing 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 on such date in accordance with paragraph (a) of this Section and may, in
reliance upon such assumption, make available to the applicable Borrower a corresponding amount.
In such event, if a Lender has not in fact made its share of the applicable Borrowing available to
the Administrative Agent, then the applicable Lender and the applicable Borrower severally agree to
pay to the Administrative Agent forthwith on demand such corresponding amount with interest
thereon, for each day from and including the date such amount is made available to the applicable
Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of
such Lender, the Federal Funds Effective Rate or (ii) in the case of a Borrower, the interest rate
applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such
amount shall constitute such Lender’s Loan included in such Borrowing.

          SECTION 2.08. Interest Elections. (a) Each Revolving Borrowing initially shall be
of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar
Revolving Borrowing, shall have an initial Interest Period as specified in such Borrowing Request
or as otherwise provided in Section 2.03. Thereafter, the applicable Borrower may elect to convert
such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar
Revolving Borrowing, may elect Interest Periods therefor, all as provided in this Section. The

 

34

applicable Borrower may elect different options with respect to different portions of the affected
Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the
Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a
separate Borrowing. This Section shall not apply to Competitive Borrowings or Swingline Loans,
which may not be converted or continued.

          (b) To make an election pursuant to this Section, a Borrower (or the Company on its behalf)
shall notify the Administrative Agent of such election by telephone by the time that a Borrowing
Request would be required under Section 2.03 if such Borrower were requesting a Revolving Borrowing
of the Type resulting from such election to be made on the effective date of such election. Each
such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by
delivery to the Administrative Agent of a written Interest Election Request in a form approved by
the Administrative Agent and signed by the applicable Borrower (or the Company on its behalf).

          (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

     (i) the Borrowing to which such Interest Election Request applies and, if different
options are being elected with respect to different portions thereof, the portions thereof
to be allocated to each resulting Borrowing (in which case the information to be specified
pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

     (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;

     (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing; and

     (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be
applicable thereto after giving effect to such election, which shall be a period
contemplated by the definition of the term “Interest Period”.

If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an
Interest Period, then the applicable Borrower shall be deemed to have selected an Interest Period
of one month’s duration.

          (d) Promptly following receipt of an Interest Election Request, the Administrative Agent
shall advise each Lender of the details thereof and of such Lender’s portion of each resulting
Borrowing.

          (e) If a Borrower fails to deliver a timely Interest Election Request with respect to a
Eurodollar Revolving Borrowing prior to the end of the Interest Period applicable thereto, then,
unless such Borrowing is repaid as provided herein, at the end of such Interest Period such
Borrowing shall be converted to an ABR Borrowing.

 

35

Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is
continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the
Company, then, so long as an Event of Default is continuing (i) no outstanding Revolving Borrowing
may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar
Revolving Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period
applicable thereto.

          SECTION 2.09. Termination, Reduction, Extension and Increase of Commitments. (a)
Unless previously terminated, the Commitments and the LC Commitments shall terminate on the
Maturity Date.

          (b) The Company may at any time terminate, or from time to time reduce, the aggregate amount
of the Commitments; provided that (i) each reduction of the Commitments shall be in an
amount that is an integral multiple of $10,000,000 and not less than $50,000,000 and (ii) the
Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent
prepayment of the Loans in accordance with Section 2.11, the sum of the Total Exposures of all the
Lenders would exceed the total Commitments.

          (c) The Company shall notify the Administrative Agent of any election to terminate or reduce
the Commitments under paragraph (b) of this Section at least three Business Days prior to the
effective date of such termination or reduction, specifying such election and the effective date
thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the
Lenders of the contents thereof. Each notice delivered by the Company pursuant to this Section
shall be irrevocable; provided that a notice of termination of the Commitments delivered by
the Company may state that such notice is conditioned upon the effectiveness of other credit
facilities, in which case such notice may be revoked by the Company (by notice to the
Administrative Agent on or prior to the specified effective date), if such condition is not
satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of
the Commitments shall be made ratably among the Lenders based on their respective Commitments.

          (d) The Company may, by notice to the Administrative Agent (which shall promptly deliver a
copy to each of the Lenders) given not less than 30 days and not more than 90 days prior to any
anniversary of the Effective Date (a “Maturity Extension Request”), request that the
Lenders extend the Maturity Date for an additional one-year period; provided that there
shall not be more than two extensions of the Maturity Date under this paragraph during the term of
this Agreement. Each Lender shall, by notice to the Company and the Administrative Agent given not
later than the 20th day after the date of the Administrative Agent’s receipt of the Company’s
Maturity Extension Request, advise the Company whether or not it agrees to the requested extension
(each Lender agreeing to a requested extension being called a “Consenting Lender” and each
Lender declining to agree to a requested extension being called a “Declining Lender”). Any
Lender that has not so advised the Company and the Administrative Agent by such day shall be deemed
to have declined to agree to such extension and shall be a Declining Lender. If Lenders
constituting the Required Lenders shall have agreed to a Maturity Extension Request, then the
Maturity Date shall, as to the Consenting Lenders, be

 

36

extended by one year to the anniversary of the Maturity Date theretofore in effect. The
decision to agree or withhold agreement to any Maturity Extension Request shall be at the sole
discretion of each Lender. The Commitment of any Declining Lender shall terminate on the Maturity
Date in effect prior to giving effect to any such extension (such Maturity Date being called the
“Existing Maturity Date”). The principal amount of any outstanding Loans made by Declining
Lenders, together with any accrued interest thereon and any accrued fees and other amounts payable
to or for the account of such Declining Lenders hereunder, shall be due and payable on the Existing
Maturity Date, and on the Existing Maturity Date the Borrowers shall also make such other
prepayments of their respective Loans pursuant to Section 2.11 as shall be required in order that,
after giving effect to the termination of the Commitments of, and all payments to, Declining
Lenders pursuant to this sentence, (i) no Lender’s Revolving Credit Exposure shall exceed such
Lender’s Commitment and (ii) the sum of the Total Exposures of all the Lenders shall not exceed the
sum of the Commitments of all the Lenders. Notwithstanding the foregoing, (i) no extension of the
Maturity Date pursuant to this paragraph shall become effective unless the Administrative Agent
shall have received documents consistent with those delivered under Section 4.01(b) through (d),
and documents consistent with those delivered with respect to each Borrowing Subsidiary under
Section 4.03(b), giving effect to such extension, and (ii) the Maturity Date and the Availability
Period, as such terms are used in reference to any Issuing Bank or any Letter of Credit issued by
such Issuing Bank, may not be extended with respect to any Issuing Bank without the prior written
consent of such Issuing Bank (it being understood and agreed that, in the event any Issuing Bank
shall not have consented to any such extension, (A) such Issuing Bank shall continue to have all
the rights and obligations of an Issuing Bank hereunder through the applicable Existing Maturity
Date (or the Availability Period determined on the basis thereof, as applicable), and thereafter
shall have no obligation to issue, amend, extend or renew any Letter of Credit (but shall continue
to be entitled to the benefits of Sections 2.06, 2.15, 2.17, 10.03 and 10.09 as to Letters of
Credit issued prior to such time), and (B) the Borrowers shall cause the LC Exposure attributable
to Letters of Credit issued by such Issuing Bank to be zero no later than the day on which such LC
Exposure would have been required to have been reduced to zero in accordance with the terms hereof
without giving effect to the effectiveness of the extension of the applicable Existing Maturity
Date pursuant to this paragraph (and, in any event, no later than such Existing Maturity Date)).

          (e) The Company may, at any time and from time to time, by written notice to the
Administrative Agent (which shall deliver a copy thereof to each Lender), request that the
aggregate amount of the Commitments be increased by an amount that, together with all prior
increases in the Commitments pursuant to this Section, does not exceed $1,000,000,000. Such notice
shall set forth the amount of the requested increase in the aggregate Commitments (which shall be
an integral multiple of $10,000,000) and the date on which such increase is requested to become
effective (which shall not be less than 30 days or more than 60 days after the date of such
notice), and shall offer to each Lender the opportunity to increase its Commitment by its
Applicable Percentage of the proposed increased amount. Each Lender shall, by notice to the
Company and the Administrative Agent given not more than 15 days after the date on which the

 

37

Administrative Agent shall have delivered the Company’s notice, either agree to increase its
Commitment by all or a portion of the offered amount (each Lender so agreeing being called an
“Increasing Lender”) or decline to increase its Commitment (and any Lender that does not
deliver such notice within such period of 15 days shall be deemed to have declined to increase its
Commitment) (each Lender so declining or being deemed to have declined being called a
“Non-Increasing Lender”). If, on the 15th day after the Administrative Agent shall have
delivered the Company’s notice, the Lenders shall have agreed pursuant to the preceding sentence to
increase their Commitments by an aggregate amount less than the increase in the aggregate
Commitments requested by the Company, the Company may arrange for one or more banks or other
financial institutions (any such bank or other financial institution being called an
“Augmenting Lender”), which may include any Lender, to extend Commitments or increase their
existing Commitments in an aggregate amount equal to the unsubscribed amount; provided that
each Augmenting Lender, if not already a Lender hereunder, shall be subject to the approval of the
Administrative Agent, the Issuing Bank and the Swingline Lender (which in each case shall not be
unreasonably withheld). Each Increasing Lender and each Augmenting Lender shall execute and
deliver such incremental commitment agreement and such other documentation as the Administrative
Agent shall specify to evidence its Commitment and/or its status as a Lender hereunder. Any
increase in the aggregate Commitments may be made in an amount which is less than the increase
requested by the Company if the Company is unable to arrange for, or chooses not to arrange for,
Augmenting Lenders. On the effective date (the “Increase Effective Date”) of any increase
in the aggregate Commitments pursuant to this paragraph (the “Commitment Increase”), (i)
the aggregate principal amount of the Revolving Loans outstanding (the “Outstanding Loans”)
immediately prior to giving effect to the Commitment Increase on the Increase Effective Date shall
be deemed to be paid; (ii) each Increasing Lender and each Augmenting Lender that shall have been a
Lender prior to the Commitment Increase shall pay to the Administrative Agent in same day funds an
amount equal to the difference between (A) the product of (1) such Lender’s Applicable Percentage
(calculated after giving effect to the Commitment Increase) multiplied by (2) the amount of the
Subsequent Borrowings (as hereinafter defined) and (B) the product of (1) such Lender’s Applicable
Percentage (calculated without giving effect to the Commitment Increase) multiplied by (2) the
amount of the Outstanding Loans; (iii) each Augmenting Lender that shall not have been a Lender
prior to the Commitment Increase shall pay to the Administrative Agent in same day funds an amount
equal to the product of (A) such Augmenting Lender’s Applicable Percentage (calculated after giving
effect to the Commitment Increase) multiplied by (B) the amount of the Subsequent Borrowings; (iv)
after the Administrative Agent receives the funds specified in clauses (ii) and (iii) above, the
Administrative Agent shall pay to each Non-Increasing Lender the portion of such funds that is
equal to the difference between (A) the product of (1) such Non-Increasing Lender’s Applicable
Percentage (calculated without giving effect to the Commitment Increase) multiplied by (2) the
amount of the Outstanding Loans, and (B) the product of (1) such Non-Increasing Lender’s Applicable
Percentage (calculated after giving effect to the Commitment Increase) multiplied by (2) the amount
of the Subsequent Borrowings; (v) after the effectiveness of the Commitment Increase, each Borrower
shall be deemed to have made new Borrowings (the “Subsequent Borrowings”) in an aggregate
principal amount equal

 

38

to the aggregate principal amount of the Outstanding Loans attributable to Revolving Loans of such
Borrower and of the Types and for the Interest Periods specified in a borrowing request delivered
in accordance with Section 2.03; (vi) each Non-Increasing Lender, each Increasing Lender and each
Augmenting Lender shall be deemed to hold its Applicable Percentage of each Subsequent Borrowing
(each calculated after giving effect to the Commitment Increase); and (vii) the applicable
Borrowers shall pay to each Increasing Lender and each Non-Increasing Lender any and all accrued
but unpaid interest on the Outstanding Loans. The deemed payments made pursuant to clause (i)
above in respect of each Eurodollar Loan shall be subject to indemnification by the applicable
Borrower pursuant to the provisions of Section 2.16 if the Increase Effective Date occurs other
than on the last day of the Interest Period relating thereto. Notwithstanding the foregoing, no
increase in the aggregate Commitments (or in the Commitment of any Lender) or addition of a new
Lender shall become effective under this paragraph unless, (i) on the Increase Effective Date, the
conditions set forth in paragraphs (a) and (b) of Section 4.02 shall be satisfied (with all
references in such paragraphs to a Credit Event being deemed to be references to such increase or
addition) and (ii) the Administrative Agent shall have received documents consistent with those
delivered under Section 4.01(b) through (d), and documents consistent with those delivered with
respect to each Borrowing Subsidiary under Section 4.03(b), giving effect to such increase or
addition.

          SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) Each Borrower hereby
unconditionally promises to pay (i) to the Administrative Agent for the account of each Lender the
then unpaid principal amount of each Revolving Loan made to such Borrower on the Maturity Date,
(ii) to the Administrative Agent for the account of each Lender the then unpaid principal amount of
each Competitive Loan made by such Lender to such Borrower on the last day of the Interest Period
applicable to such Loan and (iii) to the Swingline Lender the then unpaid principal amount of each
Swingline Loan on the earlier of the Maturity Date and the date that is the seventh day after such
Swingline Loan is made.

          (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of each Borrower to such Lender resulting from each Loan made by such
Lender to each such Borrower, including the amounts of principal and interest payable and paid to
such Lender by each such Borrower from time to time hereunder.

          (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount
of each Loan made to each Borrower hereunder, the Class and Type thereof and the Interest Period
applicable thereto, (ii) the amount of any principal or interest due and payable or to become due
and payable from each Borrower to each Lender hereunder and (iii) the amount of any sum received by
the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.

          (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this
Section shall, absent manifest error, be prima facie evidence of the existence and amounts of the
obligations recorded therein; provided that the failure of any Lender

 

39

or the Administrative Agent to maintain such accounts or any error therein shall not in any
manner affect the obligation of any Borrower to repay the Loans in accordance with the terms of
this Agreement.

          (e) Any Lender may request that Loans made by it be evidenced by a promissory note. In such
event, each Borrower shall prepare, execute and deliver to such Lender a nonnegotiable promissory
note substantially in the form attached as Exhibit B (a “Note”) payable to the order of
such Lender (or, if requested by such Lender, to such Lender and its permitted registered assigns).
Thereafter, the Loans evidenced by such Notes and interest thereon shall at all times (including
after assignment pursuant to Section 10.04) be represented by one or more Notes payable to the
order of the payee named therein (or, if such Note is a registered Note, to such payee and its
permitted registered assigns).

          SECTION 2.11. Prepayment of Loans. (a) Each Borrower shall have the right at any
time and from time to time to prepay any Borrowing made by it in whole or in part, subject to prior
notice in accordance with paragraph (b) of this Section; provided that the Borrowers shall
not have the right to prepay any Competitive Loan without the prior consent of the Lender thereof;
provided, further that each partial prepayment shall be in an amount that is an
integral multiple of $1,000,000 and not less than $10,000,000.

          (b) The Company shall notify the Administrative Agent (and, in the case of a prepayment of a
Swingline Loan, the Swingline Lender) by telephone (confirmed in writing) of any prepayment
hereunder (i) in the case of prepayment of a Eurodollar Revolving Borrowing, not later than 11:00
a.m., New York City time, three Business Days before the date of prepayment, (ii) in the case of
prepayment of an ABR Revolving Borrowing, not later than 11:00 a.m., New York City time, one
Business Day before the date of prepayment or (iii) in the case of prepayment of a Swingline Loan,
not later than 1:00 p.m., New York City time, on the date of prepayment. Each such notice shall be
irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or
portion thereof to be prepaid; provided that, if a notice of prepayment is given in
connection with a conditional notice of termination of the Commitments as contemplated by Section
2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in
accordance with Section 2.09. Promptly following receipt of any such notice relating to a
Revolving Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof.
Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case
of an advance of a Borrowing of the same Class and Type as provided in Section 2.02. Each
prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the prepaid
Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section
2.13.

          SECTION 2.12. Fees. (a) The Company agrees to pay to the Administrative Agent for
the account of each Lender a facility fee (a “Facility Fee”), which shall accrue at the
Applicable Rate on the daily amount of the Commitment of such Lender (whether used or unused)
during the period from and including the Effective Date to but excluding the date on which such
Commitment terminates; provided that, if

 

40

such Lender continues to have any Revolving Credit Exposure after its Commitment terminates,
then such Facility Fee shall continue to accrue on the daily amount of such Lender’s Revolving
Credit Exposure from and including the date on which its Commitment terminates to but excluding the
date on which such Lender ceases to have any Revolving Credit Exposure. Accrued Facility Fees
shall be payable in arrears on the last day of March, June, September and December of each year and
on the date on which the Commitments terminate, commencing on the first such date to occur after
the date hereof; provided that any Facility Fees accruing after the date on which the
Commitments terminate shall be payable on demand. All Facility Fees shall be computed on the basis
of a year of 365/366 days and shall be payable for the actual number of days elapsed (including the
first day but excluding the last day).

          (b) Each Borrower agrees to pay to the Administrative Agent (i) for the account of each
Lender a participation fee with respect to its participations in Letters of Credit issued for the
account of such Borrower (an “LC Participation Fee”), which shall accrue at the Applicable
Margin used to determine interest on Eurodollar Revolving Loans of such Borrower on the daily
amount of such Lender’s LC Exposure attributable to Letters of Credit issued for the account of
such Borrower (excluding any portion thereof attributable to unreimbursed LC Disbursements) during
the period from and including the Effective Date but excluding the later of the date on which such
Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure,
and (ii) for the account of each Issuing Bank a fronting fee (a “Fronting Fee”), which
shall accrue at a rate equal to 0.20% per annum and be payable on the aggregate face amount
outstanding of the LC Exposure attributable to the Letters of Credit issued by such Issuing Bank
for the account of such Borrower (excluding any portion thereof attributable to unreimbursed LC
Disbursements) during the period from and including the Effective Date to but excluding the later
of the date of termination of the Commitments and the date on which there ceases to be any LC
Exposure, as well as, to each Issuing Bank, such Issuing Bank’s standard fees with respect to the
issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings
thereunder. LC Participation Fees and Fronting Fees accrued through and including the last day of
March, June, September and December of each year shall be payable on the 15th day of the
month following such last day (or, if such 15th day is not a Business day, on the next
succeeding Business Day), commencing on the first such date to occur after the date hereof;
provided that all such fees shall be payable on the date on which the Commitments terminate
and any such fees accruing after the date on which the Commitments terminate shall be payable on
demand. Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable
within 10 days after demand. All LC Participation Fees and Fronting Fees shall be computed on the
basis of a year of 365/366 days and shall be payable for the actual number of days elapsed
(including the first day but excluding the last day).

          (c) The Company agrees to pay to the Administrative Agent and each of the Lenders, for their
own accounts, fees payable in the amounts and at the times separately agreed upon between the
Company and such other parties.

 

41

          (d) All fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Administrative Agent (or to an Issuing Bank, in the case of fees payable to it) for
distribution, in the case of Facility Fees, to the Lenders. Absent manifest error, fees paid shall
not be refundable under any circumstances.

          (e) Within 10 days after the end of each fiscal quarter (commencing with the fiscal quarter
ending June 30, 2011), the Administrative Agent shall deliver to the Company a schedule (i) stating
the aggregate amount of LC Participation Fees due and payable with respect to such fiscal quarter
and (ii) stating the aggregate amount of Fronting Fees due and payable to each Issuing Bank with
respect to such fiscal quarter. Promptly after receipt of each such schedule, (x) the Company
shall compare such amounts with its own calculations of the LC Participation Fees and Fronting Fees
due and payable with respect to such fiscal quarter and (y) the Administrative Agent and the
Company shall discuss the amounts set forth in each such schedule and shall, subject to the next
sentence, agree on the amount of such fees to be paid by the Borrowers for such fiscal quarter.
Neither the failure of the Administrative Agent to deliver any such schedule, nor the inaccuracy of
any such schedule, shall relieve any Borrower of its obligations to pay such fees hereunder. In
the event any Borrower pays any such fees based on any such schedule or any such agreement by the
Administrative Agent and the Company and the amount so paid by such Borrower is insufficient to
satisfy its actual payment obligations under paragraphs (a) and (b) of this Section, then such
Borrower shall remain liable for any such deficiency and such Borrower shall pay to the
Administrative Agent (for its account, the account of the applicable Issuing Banks and/or the
account of the Lenders, as applicable) the amount of any such deficiency within two Business Days
of demand therefor.

          SECTION 2.13. Interest. (a) The Loans comprising each ABR Revolving Borrowing shall
bear interest at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin.

          (b) The Loans comprising each Eurodollar Borrowing shall bear interest at a rate per annum
equal to (i) in the case of a Eurodollar Revolving Loan, the Adjusted LIBO Rate for the Interest
Period in effect for such Borrowing plus the Applicable Margin or (ii) in the case of a Eurodollar
Competitive Loan, the LIBO Rate for the Interest Period in effect for such Borrowing plus (or
minus, as applicable) the Margin applicable to such Loan.

          (c) Each Fixed Rate Loan shall bear interest at a rate per annum equal to the Fixed Rate
applicable to such Loan.

          (d) Each Swingline Loan shall bear interest, for any day, at a rate per annum equal to the
Swingline Benchmark Rate for such day plus (i) if such Swingline Benchmark Rate is determined by
reference to clause (a) of the definition of such term, then the Applicable Margin applicable to
Eurodollar Revolving Loans and (ii) if such Swingline Benchmark Rate is determined by reference to
clause (b) of the definition of such term, then the Applicable Margin applicable to ABR Revolving
Loans; provided that if the Swingline Lender shall have provided any notice pursuant to
Section 2.05(c),

 

42

then from and after the date of such notice (and until the Lenders shall hold no
participations in any Swingline Loans) each Swingline Loan shall bear interest at a rate per annum
equal to the Alternate Base Rate plus the Applicable Margin applicable to ABR Revolving Loans.

          (e) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or
other amount payable by any Borrower hereunder is not paid when due, whether at stated maturity,
upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before
judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% per
annum plus the rate otherwise applicable to such Loan as provided above or (ii) in the case of any
other amount, 2% per annum plus the rate applicable to ABR Loans of such Borrower as provided
above.

          (f) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date
for such Loan; provided that (i) interest accrued pursuant to paragraph (d) of this Section
shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other
than a prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued
interest on the principal amount repaid or prepaid shall be payable on the date of such repayment
or prepayment, (iii) in the event of any conversion of any Eurodollar Revolving Loan prior to the
end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the
effective date of such conversion and (iv) all accrued interest shall be payable upon termination
of the Commitments.

          (g) All interest hereunder shall be computed on the basis of a year of 360 days, except that
interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is
based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap
year), and shall be payable for the actual number of days elapsed (including the first day but
excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate, LIBO Rate or
Swingline Benchmark Rate shall be determined by the Administrative Agent, and such determination
shall be conclusive absent manifest error.

          SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any
Interest Period for a Eurodollar Borrowing:

     (a) the Administrative Agent determines (which determination shall be conclusive absent
manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted
LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or

     (b) the Administrative Agent is advised by the Required Lenders (or, in the case of a
Eurodollar Competitive Loan, the Lender that is required to make such Loan) that because of a
change in circumstances affecting the eurodollar market generally the Adjusted LIBO Rate or
the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect
the cost to such Lenders (or Lender) of

 

43

making or maintaining their Loans (or its Loan) included in such Borrowing for such
Interest Period;

then the Administrative Agent shall give notice thereof to the Company and the Lenders by telephone
or facsimile as promptly as practicable thereafter and, until the Administrative Agent notifies the
Company and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any
Interest Election Request that requests the conversion of any Revolving Borrowing to, or
continuation of any Revolving Borrowing as, a Eurodollar Borrowing shall be ineffective, (ii) if
any Borrowing Request requests a Eurodollar Revolving Borrowing, such Borrowing shall be made as an
ABR Borrowing and (iii) any request by a Borrower for a Eurodollar Competitive Borrowing shall be
ineffective; provided that (A) if the circumstances giving rise to such notice do not
affect all the Lenders, then requests by a Borrower for Eurodollar Competitive Borrowings may be
made to Lenders that are not affected thereby and (B) if the circumstances giving rise to such
notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted.

          SECTION 2.15. Increased Costs. (a) If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement (including any compulsory loan requirement or insurance charge) against assets
of, deposits with or for the account of, or credit extended by, any Lender (except any such
reserve requirement reflected in the Adjusted LIBO Rate) or any Issuing Bank; or

     (ii) impose on any Lender or any Issuing Bank or the London interbank market any other
condition affecting this Agreement or Eurodollar Loans or Fixed Rate Loans made by such
Lender or any Letter of Credit or participations therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurodollar Loan or Fixed Rate Loan (or of maintaining its obligation to make any
such Loan) or to increase the cost of such Lender or such Issuing Bank of participating in, issuing
or maintaining any Letter of Credit or reduce the amount of any sum received or receivable by such
Lender or such Issuing Bank hereunder (whether of principal, interest or otherwise), then the
Borrowers will pay to such Lender or such Issuing Bank such additional amount or amounts as will
compensate such Lender or such Issuing Bank for such additional costs incurred or reduction
suffered.

          (b) If any Lender or Issuing Bank determines that any Change in Law regarding capital
requirements has or would have the effect of reducing the rate of return on such Lender’s or
Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company,
if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of
Credit or Swingline Loans held by, such Lender or Letters of Credit issued by such Issuing Bank, to
a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s
holding company could have achieved but for such Change in Law (taking into consideration such
Lender’s or Issuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s holding

 

44

company with respect to capital adequacy), then from time to time the Company will pay to such
Lender or such Issuing Bank such additional amount or amounts as will compensate such Lender or
such Issuing Bank or such Lender’s or Issuing Bank’s holding company for any such reduction
suffered.

          (c) If the cost to any Lender of making or maintaining any Loan to or participating in any
Swingline Loan or Letter of Credit or any Issuing Bank of issuing or maintaining any Letter of
Credit to a Borrowing Subsidiary is increased (or the amount of any sum received or receivable by
any Lender (or its applicable lending office) or any Issuing Bank is reduced) by an amount deemed
in good faith by such Lender or such Issuing Bank to be material, by reason of the fact that such
Borrowing Subsidiary is incorporated in, has its principal place of business in, or borrows from, a
jurisdiction outside the United States, such Borrowing Subsidiary shall indemnify such Lender or
such Issuing Bank for such increased cost or reduction within 15 days after demand by such Lender
or such Issuing Bank (with a copy to the Administrative Agent). A certificate of such Lender or
such Issuing Bank claiming compensation under this paragraph and setting forth the additional
amount or amounts to be paid to it hereunder (and the basis for the calculation of such amount or
amounts) shall be conclusive in the absence of manifest error.

          (d) A certificate of a Lender or Issuing Bank setting forth the amount or amounts necessary
to compensate such Lender or such Issuing Bank or its holding company, as the case may be, as
specified in paragraph (a) or (b) of this Section shall be delivered to the Company and shall be
conclusive absent manifest error. The Company shall pay such Lender or such Issuing Bank the
amount shown as due on any such certificate within 10 days after receipt thereof.

          (e) Failure or delay on the part of any Lender or any Issuing Bank to demand compensation
pursuant to this Section shall not constitute a waiver of such Lender’s or such Issuing Bank’s
right to demand such compensation; provided that the Company shall not be required to
compensate a Lender or an Issuing Bank pursuant to this Section for any increased costs or
reductions incurred more than three months prior to the date that such Lender or such Issuing Bank,
as the case may be, notifies the Company of the Change in Law giving rise to such increased costs
or reductions and of such Lender’s or such Issuing Bank’s intention to claim compensation therefor;
provided further that if the Change in Law giving rise to such increased costs or
reductions is retroactive, then the three-month period referred to above shall be extended to
include the period of retroactive effect thereof.

          (f) Notwithstanding the foregoing provisions of this Section, a Lender shall not be entitled
to compensation pursuant to this Section in respect of any Competitive Loan if the Change in Law
that would otherwise entitle it to such compensation shall have been publicly announced prior to
submission of the Competitive Bid pursuant to which such Loan was made.

 

45

          (g) For the avoidance of doubt, this Section 2.15 shall not apply with respect to any cost or
condition relating to Taxes, which shall be governed solely by Section 2.17.

          SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any
principal of any Eurodollar Loan or Fixed Rate Loan other than on the last day of an Interest
Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any
Eurodollar Loan other than on the last day of the Interest Period applicable thereto, (c) the
failure to borrow, convert, continue or prepay any Revolving Loan on the date specified in any
notice delivered pursuant hereto (regardless of whether such notice is permitted to be revocable
under Section 2.11(b) and is revoked in accordance herewith), (d) the failure to borrow any
Competitive Loan after accepting the Competitive Bid to make such Loan, or (e) the assignment of
any Eurodollar Loan or Fixed Rate Loan other than on the last day of the Interest Period applicable
thereto as a result of a request by the Company pursuant to Section 2.19, then, in any such event,
the applicable Borrower shall compensate each Lender for the loss, cost and expense attributable to
such event. In the case of a Eurodollar Loan, the loss to any Lender attributable to any such
event shall be deemed to include an amount determined by such Lender to be equal to the excess, if
any, of (i) the amount of interest that such Lender would pay for a deposit equal to the principal
amount of such Loan for the period from the date of such payment, conversion, failure or assignment
to the last day of the then current Interest Period for such Loan (or, in the case of a failure to
borrow, convert or continue, the duration of the Interest Period that would have resulted from such
borrowing, conversion or continuation) if the interest rate payable on such deposit were equal to
the Adjusted LIBO Rate for such Interest Period, over (ii) the amount of interest that such Lender
would earn on such principal amount for such period if such Lender were to invest such principal
amount for such period at the interest rate that would be bid by such Lender (or an affiliate of
such Lender) for dollar deposits from other banks in the eurodollar market at the commencement of
such period. A certificate of any Lender delivered to the Company setting forth any amount or
amounts that such Lender is entitled to receive pursuant to this Section shall be conclusive absent
manifest error. The applicable Borrower shall pay such Lender the amount shown as due on any such
certificate within 10 days after receipt thereof.

          SECTION 2.17. Taxes. (a) Any and all payments by or on account of any obligation of
the Borrowers hereunder shall be made free and clear of and without deduction for any Indemnified
Taxes or Other Taxes; provided that if any Borrower shall be required to deduct any
Indemnified Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as
necessary so that after making all required deductions (including deductions applicable to
additional sums payable under this Section) the Administrative Agent, Lender or Issuing Bank (as
the case may be) receives an amount equal to the sum it would have received had no such deductions
been made, (ii) such Borrower shall make such deductions and (iii) such Borrower shall pay the full
amount deducted to the relevant Governmental Authority in accordance with applicable law.

 

46

          (b) In addition, the Borrowers shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

          (c) The Borrowers shall indemnify the Administrative Agent, each Lender and each Issuing
Bank, within 10 days after written demand therefor, for the full amount of any Indemnified Taxes or
Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
amounts payable under this Section) paid by the Administrative Agent, such Lender or such Issuing
Bank, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or
with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount
of such payment or liability delivered to the Company by a Lender or an Issuing Bank, or by the
Administrative Agent on its own behalf or on behalf of a Lender or an Issuing Bank, shall be
conclusive absent manifest error.

          (d) Each Lender shall severally indemnify the Administrative Agent for any Taxes (but, in the
case of any Indemnified Taxes or Other Taxes, only to the extent that any Borrower has not already
indemnified the Administrative Agent for such Indemnified Taxes or Other Taxes and without limiting
the obligation of the Borrowers to do so) attributable to such Lender that are paid or payable by
the Administrative Agent in connection with any Loan Document and any penalties, interest and
reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were
correctly or legally imposed or asserted by the relevant Governmental Authority. The indemnity
under this paragraph shall be paid within 10 days after the Administrative Agent delivers to the
applicable Lender a certificate stating the amount of Taxes so paid or payable by the
Administrative Agent. Such certificate shall be conclusive of the amount so paid or payable absent
manifest error.

          (e) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by a
Borrower to a Governmental Authority, the Company shall deliver to the Administrative Agent the
original or a certified copy of a receipt issued by such Governmental Authority evidencing such
payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent.

          (f)

     (i) Any Foreign Lender that is entitled to an exemption from or reduction of
withholding tax under the law of the jurisdiction in which a Borrower is located,
or any treaty to which such jurisdiction is a party, with respect to payments
under this Agreement shall, upon request of the Company or the Administrative
Agent, deliver to the Company and the Administrative Agent, at the time or times
prescribed by applicable law or reasonably requested by the Company or the
Administrative Agent, such properly completed and executed documentation
prescribed by applicable law (including IRS Forms W-8BEN, W-8ECI, or W-8IMY, as
applicable, and if such Foreign Lender is relying on the “portfolio

 

47

interest exemption” for U.S. Federal income tax purposes, a written
statement certifying that such Foreign Lender is not (A) a “bank” within the
meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of
the Borrowers within the meaning of section 881(c)(3)(B) of the Code, (C) a
“controlled foreign corporation” described in section 881(c)(3)(C) of the Code,
and (D) conducting a trade or business in the United States with which the
relevant interest payments are effectively connected) as will permit such
payments to be made without withholding or at a reduced rate.

     (ii) Each Lender that is a “United States person” (as defined in Section
7701(a)(30) of the Code) shall deliver to the Company and the Administrative
Agent on or before the date on which it becomes a Lender hereunder two properly
completed and duly signed original copies of IRS Form W-9 (or any successor form)
certifying that such Lender is exempt from U.S. Federal backup withholding.

     (iii) If a payment made to a Lender under any Loan Document would be subject
to U.S. Federal withholding tax imposed by FATCA if such Lender were to fail to
comply with the applicable reporting requirements of FATCA (including those
contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender
shall deliver to the Withholding Agent, at the time or times prescribed by law
and at such time or times reasonably requested by the Withholding Agent, such
documentation prescribed by applicable law (including as prescribed by Section
1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Withholding Agent as may be necessary for the Withholding Agent
to comply with its obligations under FATCA, to determine that such Lender has or
has not complied with such Lender’s obligations under FATCA and, as necessary, to
determine the amount to deduct and withhold from such payment. Solely for
purposes of this Section 2.17(f)(iii), “FATCA” shall include any amendments made
to FATCA after the date of this Agreement.

          (g) If any party determines, in its sole discretion that it has received a refund of any
Taxes as to which it has been indemnified pursuant to this Section (including additional amounts
paid pursuant to this Section), it shall pay to the indemnifying party an amount equal to such
refund (but only to the extent of indemnity payments made under this Section with respect to the
Taxes giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of such
indemnified party and without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund). Such indemnifying party, upon the request of such
indemnified party, shall repay to such indemnified party the amount paid to such indemnified party
pursuant to the previous sentence (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) in the event such indemnified party is required to repay such
refund to such Governmental Authority. Notwithstanding

 

48

anything to the contrary in this paragraph,
in no event will any indemnified party be
required to pay any amount to any indemnifying party pursuant to this paragraph if such
payment would place such indemnified party in a less favorable position (on a net after-Tax basis)
than such indemnified party would have been in if the indemnification payments or additional
amounts giving rise to such refund had never been paid. This paragraph shall not be construed to
require any indemnified party to make available its Tax returns (or any other information relating
to its Taxes which it deems confidential) to the indemnifying party or any other Person.

          (h) For purposes of paragraphs (d) and (f) of this Section, the term “Lender” includes any
Issuing Bank.

          SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of Setoffs. (a) Each
Borrower shall make each payment required to be made by it hereunder (whether of principal,
interest, fees, reimbursement of LC Disbursements or of any amounts under Section 2.15, 2.16 or
2.17, or otherwise) prior to the time expressly required hereunder (or, if no such time is
expressly required, prior to 12:00 p.m., New York City time) on the date when due in immediately
available funds, without setoff or counterclaim. Any amounts received after such time on any date
may, in the discretion of the Administrative Agent, be deemed to have been received on the next
succeeding Business Day for purposes of calculating interest thereon. All such payments shall be
made to such account of the Administrative Agent as shall be specified by the Administrative Agent,
except that payments required to be made directly to any Issuing Bank or the Swingline Lender shall
be so made and payments pursuant to Sections 2.15, 2.16, 2.17 and 10.03 shall be made directly to
the Persons entitled thereto. The Administrative Agent shall distribute any such payments received
by it for the account of any other Person to the appropriate recipient promptly following receipt
thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for
payment shall be extended to the next succeeding Business Day, and, in the case of any payment
accruing interest, interest thereon shall be payable for the period of such extension. All
payments hereunder shall be made in dollars.

          (b) If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then
due hereunder, such funds shall be applied (i) first, to pay interest and fees then due hereunder,
ratably among the parties entitled thereto in accordance with the amounts of interest and fees then
due to such parties, and (ii) second, to pay principal and unreimbursed LC Disbursements then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal
and unreimbursed LC Disbursements then due to such parties.

          (c) If any Lender shall, by exercising any right of setoff or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Revolving Loans or
participations in unreimbursed LC Disbursements or Swingline Loans resulting in such Lender
receiving payment of a greater proportion of the aggregate amount of its Revolving Loans or
participations in unreimbursed LC Disbursements and Swingline Loans and accrued interest thereon
than the proportion

 

49

received by any other Lender, then the Lender receiving such greater proportion shall
purchase (for cash at face value) participations in the Revolving Loans and participations in
unreimbursed LC Disbursements and Swingline Loans of other Lenders to the extent necessary so that
the benefit of all such payments shall be shared by the Lenders ratably in accordance with the
aggregate amount of principal of and accrued interest on their respective Revolving Loans and
participations in unreimbursed LC Disbursements and Swingline Loans; provided that (i) if
any such participations are purchased and all or any portion of the payment giving rise thereto is
recovered, such participations shall be rescinded and the purchase price restored to the extent of
such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed
to apply to any payment made by any Borrower pursuant to and in accordance with the express terms
of this Agreement or any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Loans or participations in LC Disbursements or Swingline
Loans to any assignee or participant, other than to a Borrower or any Subsidiary or Affiliate
thereof (as to which the provisions of this paragraph shall apply). Each Borrower consents to the
foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against such Borrower
rights of setoff and counterclaim with respect to such participation as fully as if such Lender
were a direct creditor of such Borrower in the amount of such participation.

          (d) Unless the Administrative Agent shall have received notice from the applicable Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the
Lenders or any Issuing Bank hereunder that such Borrower will not make such payment, the
Administrative Agent may assume that such Borrower has made such payment on such date in accordance
herewith and may, in reliance upon such assumption, distribute to the Lenders or such Issuing Bank
the amount due. In such event, if such Borrower has not in fact made such payment, then each of
the Lenders or such Issuing Bank severally agrees to repay to the Administrative Agent forthwith on
demand the amount so distributed to such Lender or such Issuing Bank with interest thereon, for
each day from and including the date such amount is distributed to it to but excluding the date of
payment to the Administrative Agent, at the Federal Funds Effective Rate.

          (e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.05(c), 2.06(d), 2.06(e), 2.07(b) or 2.18(d), or any other Section hereof requiring any
payment for the account of the Administrative Agent, any Issuing Bank or the Swingline Lender, then
the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof),
apply any amounts thereafter received by the Administrative Agent for the account of such Lender to
satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are
fully paid.

          SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.15, or if any Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 2.17, then such Lender shall use reasonable efforts to

 

50

designate a different lending office
for funding or booking its Loans hereunder or to assign and delegate its rights and obligations
hereunder to another of its offices, branches
or Affiliates, if, in the judgment of such Lender, such designation or assignment and
delegation (i) would eliminate or reduce amounts payable pursuant to Section 2.15 or 2.16, as the
case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or
expense and would not otherwise be disadvantageous to such Lender. The Company hereby agrees to
pay all reasonable costs and expenses incurred by any Lender in connection with any such
designation or assignment and delegation.

          (b) If (i) any Lender requests compensation under Section 2.15, (ii) any Borrower is required
to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.17, (iii) any Lender shall deliver a notice of illegality to the
Company pursuant to Section 2.20, (iv) any Lender becomes a Declining Lender or (v) any Lender
becomes a Defaulting Lender, then the Company may, at its sole expense and effort, upon notice to
such Lender and the Administrative Agent, require such Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in Section 10.04), all its
interests, rights and obligations under this Agreement (other than any outstanding Competitive
Loans held by it) to an assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided that (i) the Company shall have
received the prior written consent of the Administrative Agent (and if a Commitment is being
assigned, each Issuing Bank and the Swingline Lender), which consent shall not unreasonably be
withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans (other than Competitive Loans) and participations in LC Disbursements and
Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it
hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Company (in the case of all other amounts) and (iii) in the case of any such
assignment and delegation resulting from a claim for compensation under Section 2.15 or payments
required to be made pursuant to Section 2.17, such assignment will result in a reduction in such
compensation or payments, and in the case of any such assignment and delegation in respect of a
Declining Lender, the assignee shall have consented (and hereby is deemed to have consented) to the
extension of the Maturity Date specified in the applicable Maturity Extension Request. A Lender
shall not be required to make any such assignment and delegation if, prior thereto, as a result of
a waiver by such Lender or otherwise, the circumstances entitling the Company to require such
assignment and delegation cease to apply. Each party hereto agrees that an assignment and
delegation required pursuant to this paragraph may be effected pursuant to an Assignment and
Acceptance executed by the Company, the Administrative Agent and the assignee and that the Lender
required to make such assignment and delegation need not be a party thereto.

          SECTION 2.20. Borrowing Subsidiaries. (a) On or after the Effective Date, upon not
less than 10 Business Days notice to the Administrative Agent and the Lenders, the Company may
designate any Significant Subsidiary of the Company as a Borrowing Subsidiary by delivery to the
Administrative Agent of a Borrowing Subsidiary

 

51

Agreement executed by such Significant Subsidiary
and the Company, and upon such delivery such Significant Subsidiary shall for all purposes of this
Agreement be a Borrowing Subsidiary and a party to this Agreement; provided that no
Subsidiary so
designated shall become a Borrowing Subsidiary if any Lender shall, within the 10 Business
Days following the Company’s notice, notify the Company and the Administrative Agent that it would
be unlawful for such Lender and its Affiliates to make or maintain Loans to such Subsidiary. If the
designation of such Borrowing Subsidiary obligates the Administrative Agent or any Lender to comply
with “know your customer” or similar identification procedures in circumstances where the necessary
information is not previously available to it, the Company shall, promptly upon the request of the
Administrative Agent or any Lender, supply such documentation and other evidence as is reasonably
requested by the Administrative Agent or any Lender in order for the Administrative Agent or such
Lender to carry out and be satisfied it has complied with the results of all necessary “know your
customer” or other similar checks under all applicable laws and regulations prior to such
Subsidiary being designated a Borrowing Subsidiary. If the Company shall designate as a Borrowing
Subsidiary hereunder any Subsidiary not organized under the laws of the United States or any State
thereof, any Lender may, with notice to the Administrative Agent and the Company, fulfill its
Commitment by causing an Affiliate of such Lender to act as the Lender in respect of such Borrowing
Subsidiary and such Lender shall, to the extent of advances made to and participations in Letters
of Credit issued for the account of such Borrowing Subsidiary, be deemed for all purposed hereof to
have pro tanto assigned such advances and participations to such Affiliate in compliance with the
provisions of Section 10.04.

          (b) Upon the execution by the Company and delivery to the Administrative Agent of a Borrowing
Subsidiary Termination with respect to any Borrowing Subsidiary, such Subsidiary shall cease to be
a Borrowing Subsidiary and a party to this Agreement; provided that no Borrowing Subsidiary
Termination will become effective as to any Borrowing Subsidiary (other than to terminate such
Borrowing Subsidiary’s right to make further Borrowings or obtain Letters of Credit under this
Agreement) at a time when any principal of or interest on any Loan to such Borrowing Subsidiary, or
any Letter of Credit issued for the account of such Borrowing Subsidiary, shall be outstanding
hereunder or any fees or other amounts remain unpaid with respect thereto.

          (c) Promptly following receipt of any Borrowing Subsidiary Agreement or Borrowing Subsidiary
Termination, the Administrative Agent shall send a copy thereof to each Lender.

          SECTION 2.21. Defaulting Lenders. Notwithstanding any provision of this Agreement to
the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply
for so long as such Lender is a Defaulting Lender:

     (a) the Facility Fee shall cease to accrue on the Commitment of such Defaulting Lender
pursuant to Section 2.12(a);

 

52

     (b) the Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be
included in determining whether the Required Lenders or any other requisite Lenders have taken
or may take any action hereunder or under any other Loan Document (including any consent to
any amendment, waiver or other
modification pursuant to Section 10.02); provided that any amendment, waiver or
other modification requiring the consent of all Lenders or all Lenders affected thereby shall
require the consent of such Defaulting Lender in accordance with the terms hereof;

     (c) if any Swingline Exposure or LC Exposure exists at the time such Lender becomes a
Defaulting Lender then:

     (i) the Swingline Exposure and LC Exposure of such Defaulting Lender shall be
reallocated among the Non-Defaulting Lenders in accordance with their respective
Applicable Percentages but only to the extent that (i) the sum of all
Non-Defaulting Lenders’ Total Exposures plus such Defaulting Lender’s Swingline
Exposure and LC Exposure does not exceed the sum of all Non-Defaulting Lenders’
Commitments and (ii) such reallocation does not result in the Total Exposure of any
Non-Defaulting Lender exceeding such Non-Defaulting Lender’s Commitment;

     (ii) if the reallocation described in clause (i) above cannot, or can only
partially, be effected, the Borrowers shall within one Business Day following
notice by the Administrative Agent (A) first, prepay the portion of such Defaulting
Lender’s Swingline Exposure that has not been reallocated and (B) second, cash
collateralize for the benefit of the Issuing Banks the portion of such Defaulting
Lender’s LC Exposure that has not been reallocated in accordance with the
procedures set forth in Section 2.06(j) for so long as such LC Exposure is
outstanding;

     (iii) if the Borrowers cash collateralize any portion of such Defaulting
Lender’s LC Exposure pursuant to clause (ii) above, the Borrowers shall not be
required to pay LC Participation Fees to such Defaulting Lender pursuant to Section
2.12(b) with respect to such portion of such Defaulting Lender’s LC Exposure for so
long as such Defaulting Lender’s LC Exposure is cash collateralized;

     (iv) if any portion of the LC Exposure of such Defaulting Lender is
reallocated pursuant to clause (i) above, then the LC Participation Fees payable to
the Lenders pursuant to Section 2.12(b) shall be adjusted to give effect to such
reallocation; and

     (v) if all or any portion of such Defaulting Lender’s LC Exposure is neither
reallocated nor cash collateralized pursuant to clause (i) or (ii) above, then,
without prejudice to any rights or remedies of any Issuing Bank or any other Lender
hereunder, all Facility Fees that otherwise would have been payable pursuant to
Section 2.12(a) to such Defaulting

 

53

Lender (solely with respect to the portion of
such Defaulting Lender’s Commitment utilized by such LC Exposure) and LC
Participation Fees payable pursuant to Section 2.12(b) to such Defaulting Lender
with respect to such Defaulting Lender’s LC Exposure shall be payable to the
Issuing Banks (and allocated among them ratably based on the amount of such
Defaulting Lender’s LC Exposure attributable to Letters of Credit issued by each
Issuing Bank) until and to the extent that such LC Exposure is reallocated and/or
cash collateralized; and

     (d) so long as such Lender is a Defaulting Lender, the Swingline Lender shall not be
required to fund any Swingline Loan and no Issuing Bank shall be required to issue, amend,
renew or extend any Letter of Credit, unless, in each case, the related exposure and the
Defaulting Lender’s then outstanding Swingline Exposure or LC Exposure, as applicable, will be
fully covered by the Commitments of the Non-Defaulting Lenders and/or cash collateral provided
by the Borrowers in accordance with Section 2.21(c), and participating interests in any such
funded Swingline Loan or in any such issued, amended, reviewed or extended Letter of Credit
will be allocated among the Non-Defaulting Lenders in a manner consistent with Section 2.21(c)
(and such Defaulting Lender shall not participate therein).

          In the event that the Administrative Agent, the Company and each Issuing Bank each agree that
a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting
Lender, then the Swingline Exposure and LC Exposure of the Lenders shall be readjusted to reflect
the inclusion of such Lender’s Commitment and on such date such Lender shall purchase at par such
of the Revolving Loans of the other Lenders as the Administrative Agent shall determine may be
necessary in order for such Lender to hold such Loans in accordance with its Applicable Percentage.

ARTICLE III

Representations and Warranties

          Each of the Company and the Borrowing Subsidiaries represents and warrants to each of the
Lenders and Issuing Banks as follows:

          SECTION 3.01. Corporate Existence and Power; Compliance with Law and Agreements.
Each Borrower is a corporation duly incorporated or organized, as applicable, validly existing and
in good standing under the laws of its jurisdiction of incorporation. Each of the Company and its
Consolidated Subsidiaries is in compliance with all laws, regulations and orders of any
Governmental Authority applicable to it or its property and all indentures, agreements and other
instruments binding upon it or its property, except where the failure to do so, individually or in
the aggregate, does not constitute a Material Adverse Effect.

 

54

          SECTION 3.02. Corporate Authority. The Transactions to be entered into by each
Borrower have been duly authorized by all necessary corporate action and are within such Borrower’s
corporate power, do not require the approval of the shareholders of such Borrower, and will not
violate any provision of law or of its certificate of incorporation, memorandum and articles of
association, as applicable, or other constitutive document or by-laws, or result in the breach of or constitute a default or
require any consent under, or result in the creation of any lien, charge or encumbrance upon any
property or assets of such Borrower pursuant to, any indenture or other agreement or instrument to
which such Borrower is a party or by which such Borrower or its property may be bound or affected.
The execution, delivery and performance by each Borrower of this Agreement, each Note executed by
such Borrower and each other Loan Document executed by such Borrower do not require any license,
consent or approval of or advance notice to or advance filing with any governmental agency or
regulatory authority or any other third party, or if required, any such license, consent or
approval shall have been obtained and any such notice or filing shall have been made. Each
Borrowing Subsidiary, at the time it becomes a Borrowing Subsidiary and at all times thereafter,
will have the requisite power and authority to execute and deliver the Borrowing Subsidiary
Agreement and to perform its obligations thereunder and under the Loan Documents and each other
agreement or instrument contemplated thereby to which it is or will be a party and to borrow
hereunder.

          SECTION 3.03. Enforceability. This Agreement is, and each Note and each other Loan
Document when delivered by a Borrower hereunder will be, duly executed and delivered by the
Borrowers or such Borrower, as the case may be, and does or will constitute the legal, valid and
binding obligation of the Borrowers or such Borrower enforceable against the Borrowers or such
Borrower in accordance with its terms except as enforceability may be limited by general principles
of equity and bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights
generally and by moratorium laws from time to time in effect.

          SECTION 3.04. Financial Condition; No Material Adverse Effect. The audited
consolidated financial statements of the Company for the fiscal year ended December 31, 2010,
reported on by Ernst & Young, LLP, heretofore furnished to the Lenders, fairly present in all
material respects the consolidated financial position of the Company and its Consolidated
Subsidiaries as at the date thereof and the consolidated results of their operations and their cash
flows for the period covered thereby. Such financial statements were prepared in accordance with
GAAP. Since December 31, 2010, there has been no Material Adverse Effect.

          SECTION 3.05. Litigation. There are no suits or proceedings (including proceedings
by or before any arbitrator, government commission, board, bureau or other administrative agency)
pending or, to the knowledge of the Company, threatened against or affecting the Company or any of
its Consolidated Subsidiaries that constitute a Material Adverse Effect.

          SECTION 3.06. ERISA. The Company has fulfilled its obligations under the minimum
funding standards of ERISA and the Code with respect to each employee

 

55

benefit plan of the Company
subject to such standards and is in compliance in all material respects with the applicable
provisions of ERISA, and has not incurred any liability to the PBGC or any employee benefit plan of
the Company under Title IV of ERISA other than a liability to the PBGC for premiums under Section
4007 of ERISA.

          SECTION 3.07. Environmental Matters. Each of the Company and its Consolidated
Subsidiaries has obtained all permits, licenses and other authorizations which are required under
all Environmental Laws, including laws relating to emissions, discharges, releases or threatened
releases of pollutants, contaminants, chemicals, or industrial, toxic or hazardous substances or
wastes into the environment (including, without limitation, ambient air, surface water, ground
water or land), or otherwise relating to the manufacture, processing, distribution, use, treatment,
storage, disposal, transport or handling of pollutants, contaminants, chemical, or industrial,
toxic or hazardous substances or wastes, except to the extent failure to have any such permit,
license or authorization does not constitute a Material Adverse Effect. The Company and its
Consolidated Subsidiaries are in compliance with all terms and conditions of all required permits,
licenses and authorizations, and are also in compliance with all other limitations, restrictions,
conditions, standards, prohibitions, requirements, obligations, schedules and timetables, contained
in those laws or contained in any regulation, code, plan, order, decree, judgment, injunction,
notice or demand letter issued, entered, promulgated or approved thereunder, except to the extent
failure to comply does not constitute a Material Adverse Effect.

          SECTION 3.08. Federal Regulations. No part of the proceeds of the Loans will be
used, directly or indirectly, for any purpose that violates (including on the part of any Lender)
any of the regulations of the Board, including Regulations U and X.

          SECTION 3.09. Investment Company Status. Neither the Company nor any of its
Consolidated Subsidiaries is an “investment company” as defined in, or subject to regulation under,
the Investment Company Act of 1940.

          SECTION 3.10. Scheduled Debt. Schedule 3.10 sets out all of the Debt for borrowed
money of the Consolidated Subsidiaries of the Company as of the Effective Date of which the
Company, having made all due inquiry, was, at such date, aware (the “Scheduled Debt”).

ARTICLE IV

Conditions

          SECTION 4.01. Conditions to Effectiveness. This Agreement shall become effective on
the date on which each of the following conditions shall be satisfied (or waived in accordance with
Section 10.02):

 

56

     (a) The Administrative Agent shall have received from each party hereto either (i) a
counterpart of this Agreement signed on behalf of such party or (ii) evidence satisfactory to
the Administrative Agent (which may include a facsimile or electronic transmission) that such
party has signed a counterpart of this Agreement (it being understood that arrangements will
be made to subsequently deliver original executed counterparts if requested by the parties
hereto).

     (b) The Administrative Agent shall have received a favorable written opinion (addressed
to the Administrative Agent, the Issuing Banks and the Lenders and dated the Effective Date)
of counsel to the Company, substantially in the form of Exhibit C-1.

     (c) The Administrative Agent shall have received documents and certificates relating to
the organization, existence and good standing of the Company, the authorization of the
Transactions, the incumbency of the persons executing this Agreement on behalf of the Company
and any other legal matters relating to the Company, this Agreement or the Transactions
reasonably requested by the Administrative Agent or the Lenders, all in form and substance
satisfactory to the Administrative Agent.

     (d) The Administrative Agent shall have received a certificate, dated the Effective Date
and signed by the President, a Vice President or a Financial Officer of the Company,
confirming compliance as of the Effective Date with the conditions set forth in paragraphs (a)
and (b) of Section 4.02 (with all references in such paragraphs to a Credit Event being deemed
to be references to the Effective Date).

     (e) The Administrative Agent, the Arrangers and each Lender shall have received all fees
and other amounts due and payable on or prior to the Effective Date, including, to the extent
invoiced, reimbursement or payment of all out-of-pocket expenses (including fees, charges and
disbursements of counsel) required to be reimbursed or paid by any Borrower under any
commitment letter or fee letter entered into in connection with the credit facility
established hereunder.

     (f) All principal, interest, fees and other amounts due or outstanding under the
Five-Year Credit Agreement dated as of December 10, 2004, as amended and restated as of May
12, 2006, of the Company, shall have been paid in full, the commitments thereunder shall have
been or shall be terminated, and the Administrative Agent shall have received reasonably
satisfactory evidence thereof.

     (g) The Lenders shall have received all documentation and other information required by
bank regulatory authorities under applicable “know your customer” and anti-money laundering
rules and regulations, including the USA PATRIOT Act.

          SECTION 4.02. Conditions to Each Credit Event. The obligation of each Lender to make
a Loan to any Borrower on the occasion of any Borrowing, and the obligation of each Issuing Bank to
issue, renew, extend or increase the amount of any

 

57

Letter of Credit, is subject to the satisfaction
(or waiver in accordance with Section 10.02) of the following conditions:

     (a) The representations and warranties of the Borrowers set forth in this Agreement shall
be true and correct (i) in the case of the representations and warranties qualified as to
materiality, in all respects and (ii) otherwise, in all material respects, in each case on and
as of the date of such Credit Event.

     (b) At the time of and immediately after giving effect to such Credit Event, no Default
shall have occurred and be continuing.

Each Credit Event shall be deemed to constitute a representation and warranty by the applicable
Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.

          SECTION 4.03. Conditions to Initial Borrowing by each Borrowing Subsidiary. The
obligation of each Lender to make a Loan to any Borrowing Subsidiary and the obligation of each
Issuing Bank to issue, renew, extend or increase the amount of any Letter of Credit for the account
of any Borrowing Subsidiary, is subject to the satisfaction (or waiver in accordance with Section
10.02) of the following conditions:

     (a) With respect to any Borrowing Subsidiary not already party hereto, the Administrative
Agent (or its counsel) shall have received such Borrowing Subsidiary’s Borrowing Subsidiary
Agreement, duly executed by all parties thereto.

     (b) The Administrative Agent shall have received such documents and certificates,
including such opinions of counsel (which opinions shall be substantially in the form of
Exhibit C-2 hereto or otherwise satisfactory to the Administrative Agent), as the
Administrative Agent or its counsel may reasonably request relating to the organization,
existence and good standing of such Borrowing Subsidiary, the authorization of the
Transactions by such Borrowing Subsidiary, the incumbency of the persons executing any Loan
Document on behalf of such Borrowing Subsidiary and any other legal matters reasonably
relating to such Borrowing Subsidiary, its Borrowing Subsidiary Agreement or such
Transactions, all in form and substance satisfactory to the Administrative Agent and its
counsel.

ARTICLE V

Affirmative Covenants

          Until the Commitments have expired or been terminated, the principal of and interest on each
Loan and all fees payable hereunder shall have been paid in full, and Letters of Credit shall have
expired or terminated and all LC Disbursements shall have been reimbursed, each of the Company and
the Borrowing Subsidiaries covenants and agrees with the Lenders that:

 

58

          SECTION 5.01. Financial Statements and Other Information. The Company will furnish
to each Lender:

     (a) as soon as available and in any event within 100 days after the end of each of its
fiscal years, a copy of the Company’s Form 10-K for such fiscal year filed with the SEC
containing a consolidated balance sheet as at the close of such fiscal year, statements of
consolidated income and retained earnings and a statement of consolidated cash flows for such
year, setting forth in comparative form the
corresponding figures for the preceding fiscal year and certified by Ernst & Young, LLP,
or other independent registered public accounting firm of recognized national standing
selected by the Company (it being agreed that (i) no breach of the requirements of this clause
shall occur as a result of a change in the reporting requirements of the SEC and (ii) in the
event any of the financial statements referred to in this clause shall no longer be required
to be included in the Company’s Form 10-K, the Company shall nevertheless furnish such
financial statements), and as soon as available and in any event within 150 days after the end
of each of its fiscal years an unaudited consolidated balance sheet as at the close of such
fiscal year and statement of consolidated income for such year of each Guaranteed Borrowing
Subsidiary, together with a certificate of a Financial Officer of the Company to the effect
that such financial statements have been accurately compiled from the accounting records of
such Borrowing Subsidiary and its Subsidiaries;

     (b) as soon as available and in any event within 60 days after the end of each of the
first three quarters of each of its fiscal years, a copy of the Company’s Form 10-Q for each
such quarter filed with the SEC containing a consolidated balance sheet as at the end of such
quarter, a statement of consolidated income and a statement of consolidated cash flows for
such period, prepared on a basis consistent with the corresponding period of the preceding
fiscal year, except as disclosed in said financial statements or otherwise disclosed to the
Lenders in writing, and certified by a Financial Officer of the Company as presenting fairly,
in all material respects, the consolidated financial position and the consolidated results of
operations and cash flows of the Company and its Consolidated Subsidiaries as of the end of
and for such fiscal quarter and such portion of such fiscal year in accordance with GAAP,
subject however, to year-end and audit adjustments (it being agreed that in the event such
financial statements of the Company shall no longer be required to be included in Form 10-Q,
the Company shall nevertheless furnish such financial statements);

     (c) within 120 days after the end of each fiscal year of the Company, to the extent
permitted by the internal policies of the independent registered public accounting firm
referred to in paragraph (a) above, a certificate of such independent registered public
accounting firm in customary form as to whether, during the course of their examination of the
Company’s financial statements, they obtained any knowledge of any Default arising from
noncompliance with Section 6.05;

     (d) within 120 days after the end of each fiscal year of the Company and
within 60 days after the end of each of the first three quarters of each fiscal
year of

 

59

the Company, a statement, signed by a Financial Officer of the Company, (i) setting
forth the computations of the Company Capitalization Ratio and (ii) if any Lease Accounting
GAAP Change shall have become effective and shall have been applied by the Company, and such
Lease Accounting GAAP Change affects the comparability of the consolidated financial
statements (or any part thereof) for such fiscal year or such fiscal quarter compared to the
corresponding consolidated financial statements (or such part thereof) for the prior fiscal
year or the corresponding fiscal quarter of such prior fiscal year in a material respect,
specifying
the effect of such Lease Accounting GAAP Change on the consolidated financial statements
for such fiscal year or such fiscal quarter;

     (e) promptly after the sending or filing thereof, copies of all proxy statements,
financial statements and regular or special reports (other than reports on Form 10-K and Form
10-Q but including those on Form 8-K) and registration statements under the Securities Act of
1933, as amended (other than those on Form S-8 or any successor form relating to the
registration of securities offered pursuant to any employee benefit plan) which the Company
sends to its stockholders or files with the SEC (or any successor governmental authority);

     (f) promptly following a request therefor, any documentation or other information that a
Lender reasonably requests in order to comply with its ongoing obligations under applicable
“know your customer” and anti-money laundering rules and regulations, including the USA
PATRIOT Act; and

     (g) from time to time such further information regarding the business, affairs and
financial condition of the Company and its Subsidiaries as the Lenders shall reasonably
request.

          Information required to be delivered pursuant to Sections 5.01(a), 5.01(b) and 5.01(e) (but
only with respect to information filed with the SEC or any successor governmental authority and not
with respect to information sent to stockholders) shall be deemed to have been delivered on the
date on which such information has been posted on the Company’s website on the Internet at
http://www.hess.com or at http://www.sec.gov; provided that the Company
shall deliver paper copies of the information referred to in Sections 5.01(a), 5.01(b) and 5.01(e)
after the date delivery is required thereunder to any Lender which requests such delivery within
five Business Days after such request.

          SECTION 5.02. Notices of Material Events. The Company will furnish to the
Administrative Agent and each Lender prompt written notice of the following:

     (a) the occurrence of any Default;

     (b) the filing or commencement of any action, suit or proceeding by or before any
arbitrator or Governmental Authority against or affecting the Company or any Affiliate
thereof, or any adverse development therein, that constitutes a Material Adverse Effect; and

 

60

     (c) any other development that constitutes a Material Adverse Effect.

Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer
or other executive officer of the Company setting forth the details of the event or development
requiring such notice and any action taken or proposed to be taken with respect thereto.

          SECTION 5.03. Existence; Conduct of Business. The Company will, and will cause each
of its Consolidated Subsidiaries to, do or cause to be done all things
necessary to preserve, renew and keep in full force and effect its legal existence and the
rights, licenses, permits, privileges and franchises necessary to the conduct of its business,
except, in the case of the legal existence of any such Consolidated Subsidiary or any such right,
license, permit, privilege or franchise, where the failure to so preserve, renew and keep in full
force and effect does not constitute a Material Adverse Effect; provided that the foregoing
shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section
6.02.

          SECTION 5.04. Compliance with Contractual Obligations. The Company will, and will
cause each of its Consolidated Subsidiaries to, comply with all its Contractual Obligations except
to the extent that failure to comply therewith does not, in the aggregate, constitute a Material
Adverse Effect.

          SECTION 5.05. Insurance. The Company will, and will cause each of its Consolidated
Subsidiaries to, maintain in full force and effect such policies of insurance in such amounts
issued by insurers of recognized responsibility covering the properties and operations of the
Company and its Consolidated Subsidiaries as is customarily maintained by corporations engaged in
the same or similar business in the localities where the properties and operations are located,
including but not limited to insurance in connection with the disposal, handling, storage,
transportation or generation of hazardous materials; provided, that nothing shall prevent
the Company or any of its Consolidated Subsidiaries from effecting workers’ compensation or similar
insurance in respect of operations in any state or other jurisdiction through an insurance fund
operated by such state or jurisdiction or from maintaining a system or systems of self-insurance
covering its properties or operations as provided above to the extent that such self-insurance is
customarily effected by corporations engaged in the same or similar businesses similarly situated
and is otherwise prudent in the circumstances.

          SECTION 5.06. Compliance with Laws. The Company will, and will cause each of its
Consolidated Subsidiaries to, comply with all laws, rules, regulations and orders of any
Governmental Authority applicable to it or its property, except where the failure to do so,
individually or in the aggregate, does not constitute a Material Adverse Effect.

          SECTION 5.07. Use of Proceeds. The proceeds of the Loans will be applied by the
Company and the Borrowing Subsidiaries:

 

61

     (a) to meet part of the working capital and general corporate requirements of the Company
and its Subsidiaries,

     (b) for the payment of dividends and distributions by the Company and its Subsidiaries
and

     (c) for other general corporate purposes.

          The Letters of Credit will be used for general corporate purposes of the Company and its
Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly,
for any purpose that violates (including on the part of any Lender)
any of the Regulations of the Board, including Regulations U and X, as in effect from time to
time.

ARTICLE VI

Negative Covenants

          Until the Commitments have expired or been terminated, the principal of and interest on each
Loan and all fees payable hereunder shall have been paid in full, and Letters of Credit shall have
expired or terminated and all LC Disbursements shall have been reimbursed, each of the Company and
the Borrowing Subsidiaries covenants and agrees with the Lenders that:

          SECTION 6.01. Liens. The Company will not, and will not permit any of its
Consolidated Subsidiaries to, create, incur, assume or permit to exist any Lien on any property or
asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including
accounts receivable) or rights in respect of any thereof, except:

     (a) Permitted Encumbrances;

     (b) any Lien on any property or asset of the Company or any of its Consolidated
Subsidiaries existing on Effective Date and set forth in Schedule 6.01; provided that
(i) such Lien shall not apply to any other property or asset of the Company or any of its
Consolidated Subsidiaries and (ii) such Lien shall secure only those obligations which it
secures on the date hereof and extensions, renewals and replacements thereof that do not
increase the outstanding principal amount thereof;

     (c) any Lien existing on any property or asset prior to the acquisition thereof by the
Company or any of its Consolidated Subsidiaries or existing on any property or asset of any
Person that becomes a Consolidated Subsidiary after the date hereof prior to the time such
Person becomes a Consolidated Subsidiary; provided that (i) such Lien is not created
in contemplation of or in connection with such acquisition or such Person becoming a
Consolidated Subsidiary, (ii) such Lien shall not apply to any other property or assets of the
Company or any of its Consolidated Subsidiaries and (iii) such Lien shall secure only those
obligations which it secures

 

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on the date of such acquisition or the date such Person becomes a
Consolidated Subsidiary, and extensions, renewals and replacements thereof that do not
increase the outstanding principal amount thereof;

     (d) Liens securing Debt of the Company and its Consolidated Subsidiaries incurred to
finance the acquisition of fixed or capital assets; provided that (i) such Liens shall
be created substantially simultaneously with such acquisition, (ii) such Liens securing such
Debt do not at any time encumber any property other than the property financed by such Debt
and (iii) the principal amount of Debt secured by any such Lien shall at no time exceed 100%
of the original
purchase price of such assets (in the case of a purchase) or fair value of such property
at the time it was acquired (in all other cases);

     (e) Liens to secure Debt of the Company and its Consolidated Subsidiaries not otherwise
permitted by this Section 6.01, provided that the aggregate Debt secured thereby does
not exceed 15% of the Consolidated Net Tangible Assets of the Company and its Consolidated
Subsidiaries; and

     (f) Liens on assets of any Consolidated Subsidiary of the Company securing indebtedness
owed to the Company or any other Consolidated Subsidiary of the Company.

          SECTION 6.02. Fundamental Changes. (a) The Company will not consolidate with or
merge into any other Person, or permit any Person to merge or consolidate into it, or make any sale
or other disposition of all or substantially all of its assets to any other Person, or liquidate or
dissolve unless:

     (i) the survivor of any such merger or consolidation or the purchaser or acquiror of
such assets shall be a corporation incorporated under the laws of one of the States of the
United States and not more than 25% of the voting stock (assuming the conversion of all
convertible securities and exercise of all options, rights or warrants) of such survivor or
such purchaser shall be owned by such other Person or its owners and shareholders;

     (ii) such survivor or such purchaser (if not the Company) shall expressly assume the
obligations of the Company under this Agreement pursuant to documentation in form and
substance satisfactory to the Administrative Agent; and

     (iii) at the time thereof and immediately after giving effect thereto no Default shall
have occurred and be continuing and the Company shall have furnished the Administrative
Agent with evidence of compliance with the provisions of this Section 6.02.

          (b) The Company will not, and will not permit any of its Consolidated Subsidiaries to, engage
to any material extent in any business other than energy-related businesses.

 

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          SECTION 6.03. Restrictive Agreements. The Company will not, and will not permit any
of its Consolidated Subsidiaries to, directly or indirectly, enter into, incur or permit to exist
any agreement or other arrangement that prohibits, restricts or imposes any condition upon the
ability of any Significant Subsidiary to pay dividends or other distributions with respect to any
shares of its capital stock or to make or repay loans or advances to the Company.

          SECTION 6.04. Future Subsidiary Guaranties. The Company will not permit any
Subsidiary to Guaranty any other Debt of the Company unless such Subsidiary has executed and
delivered or simultaneously executes and delivers a guaranty
agreement in a form and substance reasonably satisfactory to the Administrative Agent for the
Guaranty of the payment of the obligations hereunder; provided that the Company shall not
be obligated to provide any such Guaranty by a Subsidiary not organized under the laws of the
United States, any State thereof or the District of Columbia if the provision of such Guaranty
would result in an adverse Tax consequence to the Company or its Subsidiaries.

          SECTION 6.05. Capitalization Ratios. The Company shall not permit the Company
Capitalization Ratio to exceed 0.625 to 1.000.

ARTICLE VII

Events of Default

          If any of the following events (“Events of Default”) shall occur:

     (a) any Borrower shall be in default in the payment when due of any principal of any Loan
on the maturity date thereof or any reimbursement obligation in respect of any LC Disbursement
on the date on which the same shall become due;

     (b) any Borrower shall be in default for five days in the payment when due of any
interest on any Loan or any other amount (other than principal) due hereunder;

     (c) any representation or warranty made or deemed made by any Borrower in Article III or
in any certificate of any Borrower furnished to the Administrative Agent, any Issuing Bank or
any Lender hereunder shall prove to have been incorrect, when made or deemed made, in any
material respect;

     (d) any Borrower shall be in default in the performance of (i) any covenant applicable to
it contained in Section 5.03 (with respect to legal existence of the Company) 5.07, 6.01,
6.02, 6.03, 6.04 or 6.05 for five consecutive days after such default shall have become known
to such Borrower or (ii) any other covenant, condition or agreement applicable to it contained
in this Agreement (other those

 

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specified in clause (a) or (b) of this Article) for 30
consecutive days after such default shall have become known to such Borrower;

     (e) any obligation of the Company or any Significant Subsidiary in respect of any
Material Indebtedness now or hereafter outstanding shall become due by its terms whether by
acceleration or otherwise and shall not be paid, extended or refunded or any default or event
of default shall occur in respect of any such obligation and shall continue for a period of
time sufficient to cause or permit the acceleration of maturity thereof, or the Company or any
Significant Subsidiary shall fail to pay any Swap Payment Obligation of such Person in excess
of $100,000,000 when due and payable (whether by acceleration or otherwise), unless such
Person is contesting such Swap Payment Obligation in good faith by appropriate proceedings
and has set aside appropriate reserves relating thereto in accordance with GAAP;
provided that in the case of any guaranties, endorsements and other contingent
obligations in respect of any such obligation for borrowed money of an entity other than the
Company or any Consolidated Subsidiary (all of the foregoing being herein called
“Accommodation Guaranty Indebtedness”), a default with respect to any Accommodation
Guaranty Indebtedness of such Person shall constitute an Event of Default hereunder only if
there shall have been a default in the performance by such Person of its obligations with
respect to such Accommodation Guaranty Indebtedness and such default shall continue for more
than 30 days after a holder or beneficiary of such Accommodation Guaranty Indebtedness shall
have demanded the performance of such obligation;

     (f) final judgment for the payment of money in excess of $100,000,000 shall be rendered
against the Company or any of its Significant Subsidiaries, and the same shall remain
undischarged for a period of 60 days during which the judgment shall not be on appeal with the
execution thereof being effectively stayed or execution thereof shall not be otherwise
effectively stayed;

     (g) the Company or any of its Significant Subsidiaries shall (i) apply for or consent to
the appointment of a receiver, trustee, administrator or liquidator of itself or of all or a
substantial part of its assets, (ii) be unable, or admit in writing its inability or failure,
to pay its debts generally, (iii) make a general assignment for the benefit of creditors, (iv)
be adjudicated to be bankrupt or insolvent, (v) commence any case, proceeding or other action
under any existing or future law relating to bankruptcy, insolvency, reorganization or relief
of debtors seeking to have an order for relief entered with respect to it, or seeking to
adjudicate it a bankrupt or insolvent entity, or seeking reorganization, arrangement,
adjustment, winding up, liquidation, dissolution, composition or other relief with respect to
it or its debts or an arrangement with creditors or taking advantage of any insolvency law or
proceeding for the relief of debtors, or file an answer admitting the material allegations of
a petition filed against it in any bankruptcy, reorganization or insolvency proceeding, or
(vi) take corporate action for the purpose of effecting any of the foregoing;

     (h) any case, proceeding or other action shall be instituted in any court of competent
jurisdiction against the Company or any of its Significant Subsidiaries,

 

65

seeking in respect of
the Company or any of its Significant Subsidiaries adjudication in bankruptcy, reorganization,
dissolution, winding up, liquidation, administration, a composition or arrangement with
creditors, a readjustment of debts, the appointment of a trustee, receiver, administrator,
liquidator or the like of the Company or any of its Significant Subsidiaries or of all or any
substantial part of its assets, or other like relief in respect of the Company or any of its
Significant Subsidiaries under any bankruptcy or insolvency law, and such case, proceeding or
other action results in an entry of an order for relief or any such adjudication or
appointment or if such case, proceeding or other action is being contested by such Company or
any of its Significant Subsidiaries in good faith, the same shall continue undismissed, or
unstayed and in effect, for any period of 60 consecutive days; or

     (i) at any time subsequent to December 31, 2010 and prior to the Maturity Date,
Continuing Directors shall fail to constitute at least a majority of the Board of Directors of
the Company; for the foregoing purpose, the term “Continuing Directors” means
those persons who were directors of the Company on December 31, 2010 and any person whose
election or nomination for election as a director of the Company at any time subsequent
thereto was approved by at least a majority of the persons who were then Continuing Directors;

then, and in every such event (other than an event with respect to the Company described in clause
(g) or (h) of this Article), and at any time thereafter during the continuance of such event, the
Administrative Agent shall, at the request of the Required Lenders, by notice to the Company, take
either or both of the following actions, at the same or different times: (i) terminate the
Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans
then outstanding to be due and payable in whole (or in part, in which case any principal not so
declared to be due and payable may thereafter be declared to be due and payable), and thereupon the
principal of the Loans so declared to be due and payable, together with accrued interest thereon
and all fees and other obligations of the Borrowers hereunder, shall become due and payable
immediately, without presentment, demand, protest or other notice of any kind, all of which are
hereby waived by the Borrowers; and in case of any event with respect to the Company described in
clause (g) or (h) of this Article, the Commitments shall automatically terminate and the principal
of the Loans then outstanding, together with accrued interest thereon and all fees and other
obligations of the Borrowers hereunder, shall automatically become due and payable, without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the
Borrowers.

ARTICLE VIII

The Administrative Agent

          Each of the Lenders and Issuing Banks hereby irrevocably appoints the entity named as the
Administrative Agent in the heading of this Agreement and its successors to serve as administrative
agent under the Loan Documents and authorizes the

 

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Administrative Agent to take such actions and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof, together
with such actions and powers as are reasonably incidental thereto.

          The Person serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender or an Issuing Bank as any other Lender or Issuing Bank and may exercise
the same as though it were not the Administrative Agent, and such Person and its Affiliates may
accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity
for and generally engage in any kind of business with the Company or any of its Subsidiaries or
other Affiliate thereof as if it were not the Administrative Agent hereunder and without any duty
to account therefor to the Lenders or Issuing Banks.

          The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has
occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby that the Administrative Agent is required to exercise as directed in
writing by the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary, or as the Administrative Agent shall believe in good faith to be necessary, under the
circumstances as provided in the Loan Documents), provided that the Administrative Agent shall not
be required to take any action that, in its opinion, could expose the Administrative Agent to
liability or be contrary to any Loan Document or applicable law, rule or regulation, and (c) except
as expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and
shall not be liable for the failure to disclose, any information relating to the Company or any of
its Subsidiaries or other Affiliate thereof that is communicated to or obtained by the Person
serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent
shall not be liable for any action taken or not taken by it with the consent or at the request of
the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or
as the Administrative Agent shall believe in good faith to be necessary, under the circumstances as
provided in the Loan Documents) or in the absence of its own gross negligence or willful
misconduct, as determined by a court of competent jurisdiction by a final and non-appealable
judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and
until written notice thereof is given to the Administrative Agent by a Borrower or a Lender, and
the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into
(i) any statement, warranty or representation made in or in connection with any Loan Document, (ii)
the contents of any certificate, report or other document delivered hereunder or in connection
herewith, (iii) the performance or observance of any of the covenants, agreements or other terms or
conditions set forth in any Loan Document or the occurrence of any Default, (iv) the sufficiency,
validity, enforceability, effectiveness or genuineness of this Agreement or any other agreement,
instrument or document, or (v) the satisfaction of any condition set forth in Article IV or
elsewhere herein, other than

 

67

to confirm receipt of items expressly required to be delivered to the
Administrative Agent.

          The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing (including any electronic message, Internet or intranet website posting or other
distribution) believed by it to be genuine and to have been signed or sent by the proper Person.
The Administrative Agent also may rely, and shall not incur any liability for relying, upon any
statement made to it orally or by telephone and believed by it to be made by the proper Person, and
may act upon any such statement prior to receipt of written confirmation thereof. The
Administrative Agent may consult with legal counsel (who may be counsel for any Borrower),
independent accountants and other experts selected by it, and shall not be liable for any action
taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

          The Administrative Agent may perform any and all its duties and exercise its rights and powers
by or through any one or more subagents appointed by the Administrative Agent. The Administrative
Agent and any such subagent may perform any and all its duties and exercise its rights and powers
through their respective Related Parties. The exculpatory provisions of the preceding paragraphs
shall apply to any such subagent and to the Related Parties of the Administrative Agent and any
such subagent, and shall apply to their respective activities in connection with the syndication of
the credit facilities provided for herein as well as activities as Administrative Agent.

          Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the
Issuing Banks and the Company. Upon any such resignation, the Required Lenders shall have the
right, in consultation with the Company, to appoint one of the Lenders a successor. If no such
successor shall have been so appointed by the Required Lenders and shall have accepted such
appointment within 30 days after the retiring Administrative Agent gives notice of its resignation,
then the retiring Administrative Agent may, on behalf of the Lenders and in consultation with the
Company, appoint one of the Lenders as a successor Administrative Agent which shall be a bank with
an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its
appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and
become vested with all the rights, powers, privileges and duties of the retiring Administrative
Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations
hereunder. The fees payable by the Company to a successor Administrative Agent shall be the same
as those payable to its predecessor unless otherwise agreed between the Company and such successor.
After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section
10.03 shall continue in effect for its benefit in respect of any actions taken or omitted to be
taken by it while it was acting as Administrative Agent.

          Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent, any Issuing Bank or any other Lender and based on such documents and
information as it has deemed appropriate, made its own credit analysis

 

68

and decision to enter into
this Agreement. Each Lender also acknowledges that it will, independently and without reliance
upon the Administrative Agent, any Issuing Bank or any other Lender, or any of the Related Parties
of any of the foregoing, and based on such documents and information as it shall from time to time
deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any related agreement or any document furnished hereunder or thereunder.

          Each Lender, by delivering its signature page to this Agreement, or delivering its signature
page to an Assignment and Acceptance or any other Loan Document pursuant to which it shall become a
Lender hereunder, shall be deemed to have acknowledged receipt of, and consented to and approved,
each Loan Document and each other document required to be delivered to, or be approved by or
satisfactory to, the Administrative Agent or the Lenders on the Effective Date.

          None of the Arrangers, the Syndication Agents, the Co-Syndication Agents or the
Co-Documentation Agents shall have any duties or obligations under this Agreement or any other Loan
Document (except in its capacity, as applicable, as a Lender or an Issuing Bank), but all such
Persons shall have the benefit of the indemnities provided for hereunder.

ARTICLE IX

Guarantee

          In order to induce the Lenders to extend credit to the Borrowing Subsidiaries hereunder and to
induce the Issuing Banks to issue Letters of Credit for the accounts of the Borrowing Subsidiaries
hereunder, the Company hereby irrevocably and unconditionally guarantees the Guaranteed
Obligations. The Company further agrees that the due and punctual payment of the Guaranteed
Obligations may be extended or renewed, in whole or in part, without notice to or further assent
from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such
extension or renewal of any Guaranteed Obligation.

          The Company waives presentment to, demand of payment from and protest to any Borrowing
Subsidiary of any of its Guaranteed Obligations, and also waives notice of acceptance of its
obligations and notice of protest for nonpayment and all other notices, demands and protests and
formalities of any kind which may otherwise constitute grounds for relieving the Company of its
obligations hereunder. The obligations of the Company hereunder shall not be affected by (a) the
failure of any Lender or Issuing Bank, as the case may be, to assert any claim or demand or to
enforce any right or remedy against any Borrowing Subsidiary under the provisions of this
Agreement, any other Loan Document or otherwise; (b) any extension or renewal of any of the
Guaranteed Obligations; (c) any rescission, waiver, amendment or modification of, or release from,
any of the terms or provisions of this Agreement or any other Loan Document or agreement; (d) the
failure or delay of any Lender or Issuing Bank, as the

 

69

case may be, to exercise any right or remedy
against any other guarantor of the Guaranteed Obligations; (e) the failure of any Lender or Issuing
Bank, as the case may be, to assert any claim or demand or to enforce any remedy under any Loan
Document or any other agreement or instrument; (f) any default, failure or delay, willful or
otherwise, in the performance of the Guaranteed Obligations; (g) any lack of validity or
unenforceability of this Agreement or any other Loan Document; (h) any change in ownership of any
Borrower or any merger or consolidation of any Borrower with any other Person, (i) any other
circumstance which may constitute a defense (other than payment in full of the Guaranteed
Obligations) or (j) any other act, omission or delay to do any other act which may or might in any
manner or to any extent vary the risk of the Company or otherwise operate as a discharge of the
Company as a matter of law or equity or which would impair or eliminate any right of the Company to
subrogation.

          The Company further agrees that its guarantee hereunder constitutes a promise of payment when
due (whether or not any bankruptcy or similar proceeding shall
have stayed the accrual or collection of any of the Guaranteed Obligations or operated as a
discharge thereof) and not merely of collection, and waives any right to require that any resort be
had by any Lender or Issuing Bank, as the case may be, to any balance of any deposit account or
credit on the books of any Lender or Issuing Bank, as the case may be, in favor of any Borrower or
Subsidiary or any other Person.

          The obligations of the Company hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason, and shall not be subject to any defense or setoff,
counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or
unenforceability of the Guaranteed Obligations, any impossibility in the performance of the
Guaranteed Obligations or otherwise.

          The Company further agrees that its obligations hereunder shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of any Guaranteed
Obligation is rescinded or must otherwise be restored by any Lender or Issuing Bank as applicable,
upon the bankruptcy or reorganization of any Borrowing Subsidiary or otherwise.

          In furtherance of the foregoing and not in limitation of any other right which any Lender or
Issuing Bank may have at law or in equity against the Company by virtue hereof, upon the failure of
any Borrowing Subsidiary to pay any Guaranteed Obligation of such Borrowing Subsidiary when and as
the same shall become due, whether at maturity, by acceleration, after notice of prepayment or
otherwise, the Company hereby promises to and will, upon receipt of written demand by the
Administrative Agent (which demand shall not be required if not allowed due to the existence of a
bankruptcy or similar proceeding and is hereby waived by the Company in the event of such
circumstances), forthwith pay, or cause to be paid, to the Administrative Agent for distribution to
the Lenders in cash an amount equal the unpaid principal amount of such Guaranteed Obligation. The
Company further agrees that if payment in respect of any Guaranteed Obligation shall be due in a
currency other than dollars and/or at a place of payment other than New York and if, by reason of
any legal prohibition, disruption of currency or foreign exchange markets, war or civil disturbance
or other

 

70

event, payment of such Guaranteed Obligation in such currency or at such place of payment
shall be impossible or, in the reasonable judgment of any Lender, not consistent with the
protection of its rights or interests, then, at the election of such Lender, the Company shall make
payment of such Guaranteed Obligation in dollars (based upon the applicable exchange rate in effect
on the date of payment) and/or in New York, and shall indemnify such Lender against any losses or
expenses (including losses or expenses resulting from fluctuations in exchange rates) that it shall
sustain as a result of such alternative payment.

          Upon payment in full by the Company of any Guaranteed Obligation, each Lender shall, in a
reasonable manner, assign to the Company the amount of such Guaranteed Obligation owed to such
Lender and so paid, such assignment to be pro tanto to the extent to which the Guaranteed
Obligation in question was discharged by the Company, or make such disposition thereof as the
Company shall direct (all without recourse to any Lender and without any representation or warranty
by any Lender).
Upon payment by the Company of any sums as provided above, all rights of the Company against
the applicable Borrowing Subsidiary arising as a result thereof by way of right of subrogation or
otherwise shall in all respects be subordinated and junior in right of payment to the prior
indefeasible payment in full of all the Guaranteed Obligations owed by such Borrowing Subsidiary to
the Lenders.

ARTICLE X

Miscellaneous

          SECTION 10.01. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone or electronic communication as contemplated by
paragraph (b) below, all notices and other communications provided for herein shall be in writing
and shall be delivered by hand or overnight courier service, mailed by certified or registered mail
or sent by facsimile, as follows:

     (i) if to the Company, to Hess Corporation, 1185 Avenue of the Americas, New York, New
York 10036, Attention of Treasurer (Fax No. (212) 536-8617);

     (ii) if to any Borrowing Subsidiary, to it in care of the Company as provided in
clause (i) above;

     (iii) if to the Administrative Agent, to JPMorgan Chase Bank, N.A., Loan & Agency
Services, 1111 Fannin, 10th Floor, Houston, Texas 77002-6925, Attention of Maria
Nina G Guinchard (Fax No. 713-750-2367);

     (iv) if to any Lender, to it at its address (or facsimile number) set forth in its
Administrative Questionnaire;

 

71

     (v) if to an Issuing Bank, to it at the address specified in clause (iv) above
or, if such Issuing Banks shall not also be a Lender, to it at the address most recently
specified by it in a notice delivered to the Administrative Agent and the Company; and

     (vi) if to the Swingline Lender, to it at JPMorgan Chase Bank, N.A., Loan & Agency
Services, 1111 Fannin, 10th Floor, Houston, Texas 77002-6925, Attention of Maria
Nina G Guinchard (Fax No. 713-750-2367).

          Notices sent by hand or overnight courier service, or mailed by certified or registered mail,
shall be deemed to have been given when received; notices sent by fax shall be deemed to have been
given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next business day for the recipient);
and notices delivered through electronic communications to the extent provided in paragraph (b)
below shall be effective as provided in such paragraph.

          (b) Notices and other communications to the Lenders and Issuing Banks hereunder may be
delivered or furnished by electronic communications (including email and Internet and intranet
websites) pursuant to procedures approved by the Administrative Agent; provided that the
foregoing shall not apply to notices under Article II to any Lender or Issuing Bank if such Lender
or Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable of
receiving notices under such Article by electronic communication. Any notices or other
communications to the Administrative Agent or any Borrower may be delivered or furnished by
electronic communications pursuant to procedures approved by the recipient thereof prior thereto;
provided that approval of such procedures may be limited or rescinded by any such Person by
notice to each other such Person.

          (c) Any party hereto may change its address or facsimile number for notices and other
communications hereunder by notice to the other parties hereto.

          SECTION 10.02. Waivers; Amendments. (a) No failure or delay by the Administrative
Agent, any Issuing Bank or any Lender in exercising any right or power hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right or power, or any
abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. The rights and remedies of
the Administrative Agent, the Issuing Banks and the Lenders hereunder are cumulative and are not
exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of
this Agreement or consent to any departure by any Borrower therefrom shall in any event be
effective unless the same shall be permitted by this Section, and then such waiver or consent shall
be effective only in the specific instance and for the specific purpose for which given. Without
limiting the generality of the foregoing, the making of a Loan or the issuance of a Letter of
Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative
Agent, any Issuing Bank or any Lender may have had notice or knowledge of such Default at the time.

 

 

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          (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Company and the Required
Lenders or by the Company and the Administrative Agent with the consent of the Required Lenders;
provided that no such agreement shall (i) increase the Commitment of any Lender without the
written consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or
reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written
consent of each Lender and Issuing Bank affected thereby, (iii) postpone the scheduled date of
payment of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any
fees or any other amount payable hereunder, or reduce the amount of, waive or excuse any such
payment, or postpone the scheduled date of expiration of any Commitment, without the written
consent of each Lender affected thereby, (iv) change Section 2.18(b) or 2.18(c) in a manner that
would alter the pro rata sharing of payments required thereby without the written consent of each
Lender, (v) change any of the provisions of this Section or the percentage set forth in the
definition of “Required Lenders” or any other provision hereof specifying the number or percentage
of Lenders required to waive, amend or modify any rights hereunder or make any determination or
grant any consent hereunder without the written consent of each Lender or (vi) release the Company
from its obligations under Article IX without the written consent of each Lender; provided
further that no amendment, modification or waiver of this Agreement or any provision hereof
that would alter the rights or duties of the Administrative Agent, any Issuing Bank or the
Swingline Lender hereunder shall be effective without the prior written consent of the
Administrative Agent, such Issuing Bank or the Swingline Lender, as the case may be, and, without
limiting the foregoing, any amendment or other modification of Section 2.21 shall require the prior
written consent of the Administrative Agent, each Issuing Bank and the Swingline Lender.

          SECTION 10.03. Expenses; Indemnity; Damage Waiver. (a) The Borrowers agree to pay
(i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates,
including the reasonable fees, charges and disbursements of counsel for the Administrative Agent,
in connection with the syndication of the credit facilities provided for herein, the preparation
and administration of this Agreement or any amendments, modifications or waivers of the provisions
hereof (whether or not the transactions contemplated hereby or thereby shall be consummated) and
(ii) all out-of-pocket expenses incurred by the Administrative Agent, any Issuing Bank or any
Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent,
any Issuing Bank or any Lender, in connection with the enforcement or protection of its rights in
connection with this Agreement, including its rights under this Section, or in connection with the
Loans made or Letters of Credit issued hereunder, including in connection with any workout,
restructuring or negotiations in respect thereof.

          (b) The Borrowers agree to indemnify the Administrative Agent, each Arranger, each
Syndication Agent, each Documentation Agent, each Issuing Bank and each Lender, and each Related
Party of any of the foregoing Persons (each such Person being called an “Indemnitee”),
against, and hold each Indemnitee harmless from, any and

 

 

73

all losses, claims, damages, liabilities and related expenses, including the fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee
arising out of, in connection with, or as a result of (i) the execution or delivery of this
Agreement or any agreement or instrument contemplated hereby, the performance by the parties hereto
of their respective obligations hereunder or the consummation of the Transactions or any other
transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds
therefrom (including any refusal by an Issuing Bank to honor a demand for payment under a Letter of
Credit if the documents presented in connection with such demand do not strictly comply with the
terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous
Materials on or from any property owned or operated by the Company or any of its Subsidiaries, or
any Environmental Liability related in any way to the Company or any of its Subsidiaries, or (iv)
any actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory and whether initiated against or by
any party to this Agreement or any other Loan Document, any Affiliate of any of the foregoing or
any third party (and regardless of whether any Indemnitee is a party thereto); provided,
that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses are determined by a court of competent
jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or
willful misconduct of such Indemnitee or its Affiliates or from a breach of this Agreement by such
Indemnitee.

          (c) To the extent that the Borrowers fail to pay any amount required to be paid by it to the
Administrative Agent, any Issuing Bank or the Swingline Lender or any Related Party of any of the
foregoing, under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the
Administrative Agent, such Issuing Bank, the Swingline Lender or such Related Party, as the case
may be, such Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that
the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the
case may be, was incurred by or asserted against the Administrative Agent, such Issuing Bank or the
Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing
acting for the Administrative Agent, any Issuing Bank or the Swingline Lender in connection with
such capacity.

          (d) To the extent permitted by applicable law, no Borrower shall assert, and each hereby
waives, any claim against any Indemnitee, on any theory of liability, (i) for any damages arising
from the use by others of information or other materials obtained through telecommunications,
electronic or other information transmission systems (including the Internet), except to the extent
that such damages are determined by a court of competent jurisdiction by a final and non-appealable
judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or
from a breach of this Agreement by such Indemnitee, or (ii) for special, indirect, consequential or
punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as
a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions,
any Loan or Letter of Credit or the use of the proceeds thereof.

 

 

74

          (e) All amounts due under this Section shall be payable promptly after written demand
therefor.

          SECTION 10.04. Successors and Assigns. (a) The provisions of this Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any Letter of
Credit), except that no Borrower may assign or otherwise transfer any of its rights or obligations
hereunder without the prior written consent of each Lender (and any attempted assignment or
transfer by any Borrower without such consent shall be null and void). Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the parties hereto,
their respective successors and assigns permitted hereby and, to the extent expressly contemplated
hereby (including any Affiliate of any Issuing Bank that issues any Letter of Credit), Participants
(to the extent provided in paragraph (e) of this Section), the Arrangers, the Syndication Agents,
the Documentation Agents and the Related Parties of the Administrative Agent, the Arrangers, the
Syndication Agents, the Documentation Agents, the Issuing Banks and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

          (b) Any Lender may assign to one or more assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitment and the Loans and
participations in LC Disbursements at the time owing to it); provided, that (i) each of the
Company (provided that (A) in the case of an assignment to a Lender or an Affiliate of a
Lender or to any funds that invests in bank loans and is administered or managed by a Lender or an
Affiliate of a Lender or (B) upon the occurrence and during the continuance of an Event of Default,
the consent of the Company shall not be required), the Administrative Agent and, in the case of any
assignment of a Commitment, each Issuing Bank and the Swingline Lender must give their prior
written consent to such assignment (which consent shall not be unreasonably withheld or delayed, it
being agreed that none of the Company, the Administrative Agent, any Issuing Bank or the Swingline
Lender will be deemed to have acted unreasonably if it refuses to consent to an assignment to an
institution whose unsecured long-term deposit obligations or senior, unsecured, non-credit-enhanced
long-term indebtedness for borrowed money shall not have ratings of at least BBB from S&P and Fitch
and Baa2 from Moody’s, in each case with at least stable outlook), (ii) except in the case of an
assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount
of the assigning Lender’s Commitment, the amount of the Commitment of the assigning Lender subject
to each such assignment (determined as of the date the Assignment and Acceptance with respect to
such assignment is delivered to the Administrative Agent) shall not be less than $10,000,000 unless
each of the Company and the Administrative Agent otherwise consent, (iii) each partial assignment
shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and
obligations under this Agreement, except that this clause (iii) shall not apply to rights in
respect of outstanding Competitive Loans, (iv) the parties to each assignment shall execute and
deliver to the Administrative Agent an Assignment and Acceptance, together (except in the case of
an assignment by a Lender to one of its Affiliates or an assignment as a result of any of the
events

 

 

75

contemplated by Section 2.19) with a processing and recordation fee of $3,500, and (v) the assignee, if it
shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.
Upon acceptance and recording pursuant to paragraph (d) of this Section, from and after the
effective date specified in each Assignment and Acceptance, the assignee thereunder shall be a
party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have
the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from
its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all
of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to
be a party hereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17
and 10.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement
that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale
by such Lender of a participation in such rights and obligations in accordance with paragraph (e)
of this Section.

          (c) The Administrative Agent, acting for this purpose as an agent of each Borrower, shall
maintain at one of its offices in The City of New York a copy of each Assignment and Acceptance
delivered to it and records of the names and addresses of the Lenders, and the Commitment of, and
principal amount of the Loans and LC Disbursements owing to, each Lender pursuant to the terms
hereof from time to time (the “Register”). The entries in the Register shall be
conclusive, and the Borrowers, the Administrative Agent, the Lenders and the Issuing Banks shall
treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by any Borrower, any Issuing Bank and any Lender, at any
reasonable time and from time to time upon reasonable prior notice.

          (d) Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning
Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph
(b) of this Section and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Acceptance and record the
information contained therein in the Register. No assignment shall be effective for purposes of
this Agreement unless it has been recorded in the Register as provided in this paragraph.

          (e) Any Lender may, without the consent of any Borrower, the Administrative Agent or the
Issuing Banks, sell participations to one or more banks or other entities (each a
“Participant”) in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans owing to it);
provided that (i) such Lender’s obligations under this Agreement shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (iii) the Borrowers, the Administrative Agent, the Issuing Banks and the other
Lenders shall continue to deal

 

 

76

solely and directly with such Lender in connection with such Lender’s rights and obligations
under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this Agreement
and to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such agreement or instrument may provide that such Lender will not, without
the consent of the Participant, agree to any amendment, modification or waiver described in the
first proviso to Section 10.02(b) that affects such Participant. Subject to paragraph (f) of this
Section, each Borrower agrees that each Participant shall be entitled to the benefits of Sections
2.15, 2.16 and 2.17 to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to paragraph (b) of this Section.

          (f) A Participant shall not be entitled to receive any greater payment under Section 2.15 or
2.17 than the applicable Lender would have been entitled to receive with respect to the
participations sold to such Participant, unless the sale of the participations to such Participant
is made with the Company’s prior written consent. A Participant that would be a Foreign Lender if
it were a Lender shall not be entitled to the benefits of Section 2.17 unless the Company is
notified of the participations sold to such Participant and such Participant agrees, for the
benefit of the Company, to comply with Section 2.17(e) as though it were a Lender.

          (g) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including any such pledge or
assignment to a Federal Reserve Bank or any central bank with jurisdiction over such Lender, and
this Section shall not apply to any such pledge or assignment of a security interest; provided that
no such pledge or assignment of a security interest shall release a Lender from any of its
obligations hereunder or substitute any such pledge or assignee for such Lender as a party hereto.

          SECTION 10.05. Survival. All covenants, agreements, representations and warranties
made by the Borrowers herein and in the certificates or other instruments delivered in connection
with or pursuant to this Agreement shall be considered to have been relied upon by the other
parties hereto and shall survive the execution and delivery of this Agreement and the making of any
Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other
party or on its behalf and notwithstanding that the Administrative Agent or any Lender may have had
notice or knowledge of any Default or incorrect representation or warranty at the time any credit
is extended hereunder, and shall continue in full force and effect as long as the principal of or
any accrued interest on any Loan or any fee or any other amount payable under this Agreement is
outstanding and unpaid or any LC Exposure is outstanding and so long as the Commitments have not
expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 10.03 and Article VIII
shall survive and remain in full force and effect regardless of the consummation of the
transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the
Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof.

 

 

77

          SECTION 10.06. USA PATRIOT Act. Each Lender hereby notifies the Company that
pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record
information that identifies each Borrower, which information includes the name and address of each
Borrower and other information that will allow such Lender to identify each Borrower in accordance
with its requirements.

          SECTION 10.07. Counterparts; Integration; Effectiveness. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single
contract. This Agreement and the other Loan Documents constitute the entire contract among the
parties relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof, including the commitments
of the Lenders and, if applicable, their Affiliates under any commitment letter entered into in
connection with the credit facilities established hereunder and any commitment advices submitted in
connection therewith (but do not supersede any other provisions of any such commitment letter or
any fee letter entered into in connection with the credit facilities established hereunder) that do
not by the terms of such documents terminate upon the effectiveness of this Agreement, all of which
provisions shall remain in full force and effect). Except as provided in Section 4.01, this
Agreement shall become effective when it shall have been executed by the Administrative Agent and
when the Administrative Agent shall have received counterparts hereof which, when taken together,
bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns. Delivery
of an executed counterpart of a signature page of this Agreement by facsimile or other electronic
imaging shall be effective as delivery of a manually executed counterpart of this Agreement.

          SECTION 10.08. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

          SECTION 10.09. Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender and Issuing Bank is hereby authorized at any time and from time to time, to
the fullest extent permitted by law, to set off and apply any and all deposits (general or special,
time or demand, provisional or final) at any time held and other indebtedness at any time owing by
such Lender or Issuing Bank (a) to or for the credit or the account of the Company against any of
and all the obligations of the Company or any Borrower, and (b) to or for the credit or the account
of any Borrower against any of and all the obligations of such Borrower, now or hereafter existing
under this Agreement held by such Lender or Issuing Bank, irrespective of whether or not such
Lender or Issuing Bank shall have made any demand under this Agreement and although such
obligations may be unmatured. The rights of each Lender and Issuing Bank under

 

 

78

this Section are in addition to other rights and remedies (including other rights of setoff)
that such Lender or Issuing Bank may have. For purposes of this Section and without limitation, the
Guarantee by the Company of the Guaranteed Obligations shall constitute an obligation of the
Company.

          SECTION 10.10. Governing Law; Jurisdiction; Consent to Service of Process; Process Agent;
Waiver of Immunity. (a) This Agreement shall be construed in accordance with and governed by
the law of the State of New York.

          (b) Each Borrower hereby irrevocably and unconditionally submits, for itself and its
property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in
the Borough of Manhattan in The City of New York and of the United States District Court of the
Southern District of New York, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all
claims in respect of any such action or proceeding shall be heard and determined in such New York
State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees
that a final judgment in any such action or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in
this Agreement shall affect any right that the Administrative Agent or any Lender or Issuing Bank
may otherwise have to bring any action or proceeding relating to this Agreement against any
Borrower or its properties in the courts of any jurisdiction.

          (c) Each Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement in any court
referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably
waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

          (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices to it in Section 10.01. Nothing in this Agreement will affect the right of
any party to this Agreement to serve process in any other manner permitted by law. Each Borrowing
Subsidiary that is not organized in the United States of America, any State thereof or the District
of Columbia hereby irrevocably designates, appoints and empowers the Company as its process agent
to receive for and on its behalf service of process in any legal action or proceeding arising out
of or relating to this Agreement.

          SECTION 10.11. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED

 

 

79

HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES
THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

          SECTION 10.12. Headings. Article and Section headings and the Table of Contents used
herein are for convenience of reference only, are not part of this Agreement and shall not affect
the construction of, or be taken into consideration in interpreting, this Agreement.

          SECTION 10.13. Confidentiality. Each of the Administrative Agent, the Lenders and
the Issuing Banks agrees to maintain the confidentiality of the Information (as defined below),
except that Information may be disclosed (a) to its and its Affiliates’ directors, members,
partners, officers, employees and agents, including accountants, legal counsel and other advisers
(it being understood that the Persons to whom such disclosure is made will be informed of the
confidential nature of such Information and instructed to keep such Information confidential), (b)
to the extent requested by any regulatory authority (including (i) any self-regulatory authority,
such as the National Association of Insurance Commissioners and (ii) in connection with a pledge or
assignment permitted under Section 10.04(g)), (c) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement,
(e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding
relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement
containing provisions at least as restrictive as those of this Section, to (i) any assignee of or
Participant in, or any prospective assignee of or Participant in, any of its rights or obligations
under this Agreement or (ii) any actual or prospective direct or indirect counterparty (or its
advisors) to any securitization, swap or derivatives transaction relating to the Company, any of
its Subsidiaries and the obligations hereunder, (g) with the consent of the Company or (h) to the
extent such Information (i) becomes publicly available other than as a result of a breach of this
Section or (ii) becomes available to the Administrative Agent, any Lender or any Issuing Bank on a
nonconfidential basis from a source other than a Borrower. For the purposes of this Section,
“Information” means all information received from the Borrowers relating to the Borrowers
or their business, other than any such information that is available to the Administrative Agent,
any Lender or any Issuing Bank on a nonconfidential basis prior to disclosure by the Borrowers;
provided that in the case of information received from the Borrowers after the date hereof,
such information is clearly identified at the time of delivery as confidential. Any Person
required to maintain the confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has exercised the same
degree of care to maintain the confidentiality of such Information as such Person would accord to
its own confidential information.

 

 

80

          SECTION 10.14. No Fiduciary Relationship. Each of the Borrowers agrees that in
connection with all aspects of the transactions contemplated hereby and any communications in
connection therewith, the Borrowers and their Affiliates, on the one hand, and the Administrative
Agent, the Lenders, the Issuing Banks and their Affiliates, on the other hand, will have a business
relationship that does not create, by implication or otherwise, any fiduciary duty or advisory or
agency relationship on the part of the Administrative Agent, the Lenders, the Issuing Banks or
their Affiliates, and no such duty or relationship will be deemed to have arisen in connection with
any such transactions or communications. The Administrative Agent, each Lender, each Issuing Bank
and their respective Affiliates may have economic interests that conflict with those of the Company
and the Borrowing Subsidiaries, their respective equityholders and/or their respective Affiliates.

          SECTION 10.15. Conversion of Currencies. (a) If, for the purpose of obtaining
judgment in any court, it is necessary to convert a sum owing hereunder in one currency into
another currency, each party hereto agrees, to the fullest extent that it may effectively do so,
that the rate of exchange used shall be that at which in accordance with normal banking procedures
in the relevant jurisdiction the first currency could be purchased with such other currency on the
Business Day immediately preceding the day on which final judgment is given.

          (b) The obligations of each party hereto in respect of any sum due to any other party hereto
or any holder of the obligations owing hereunder (the “Applicable Creditor”) shall,
notwithstanding any judgment in a currency (the “Judgment Currency”) other than the
currency in which such sum is stated to be due hereunder (the “Agreement Currency”), be
discharged only to the extent that, on the Business Day following receipt by the Applicable
Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in
accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement
Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less
than the sum originally due to the Applicable Creditor in the Agreement Currency, the Borrowers
agree, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable
Creditor against such loss. The obligations of each party hereto contained in this Section shall
survive the termination of this Agreement and the payment of all other amounts owing hereunder.

[Remainder of page intentionally left blank]

 

 

          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.

	 	 	 	 	 
	 	HESS CORPORATION,

 	 
	 	by  	/s/ Robert M. Biglin
 	 
	 	 	Name:  	Robert M. Biglin 	 
	 	 	Title:  	Vice President &
Treasurer 	 
	 
	 	HESS OIL AND GAS HOLDINGS INC.,

as a Borrowing Subsidiary,

 	 
	 	by  	/s/ John P. Rielly
 	 
	 	 	Name:  	John P. Rielly 	 
	 	 	Title:  	Director 	 
	 
	 	HESS OIL VIRGIN ISLANDS CORPORATION, as a

Borrowing Subsidiary,

 	 
	 	by  	/s/ John P. Rielly
 	 
	 	 	Name:  	John P. Rielly 	 
	 	 	Title:  	Vice President and
Treasurer 	 
	 
	 	HESS INTERNATIONAL HOLDINGS LIMITED, as

a Borrowing Subsidiary,

 	 
	 	by  	/s/ John P. Rielly
 	 
	 	 	Name:  	John P. Rielly 	 
	 	 	Title:  	Director 	 
	 

[Signature Page to the Credit Agreement]

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

individually and as Administrative Agent, an

Issuing Bank and the Swingline Lender,

 	 
	 	by  	/s/ Marshall Trenckmann
 	 
	 	 	Name:  	Marshall Trenckmann 	 
	 	 	Title:  	Vice President 	 
	 
	 	CITIBANK, N.A.,

individually and as an Issuing Bank,

 	 
	 	by  	/s/ Andrew Sidforo
 	 
	 	 	Name:  	Andrew Sidforo 	 
	 	 	Title:  	Vice President 	 
	 
	 	THE ROYAL BANK OF SCOTLAND PLC,

individually and as an Issuing
Bank,

 	 
	 	by  	/s/ Steve Ray
 	 
	 	 	Name:  	Steve Ray 	 
	 	 	Title:  	Director 	 
	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ,

LTD., individually and as an Issuing
Bank,

 	 
	 	by  	/s/ S. Hughes
 	 
	 	 	Name:  	S. Hughes 	 
	 	 	Title:  	Managing
Director 	 
	 
	 	GOLDMAN SACHS BANK USA, individually and

as an Issuing Bank,

 	 
	 	by  	/s/ Mark Walton
 	 
	 	 	Name:  	Mark Walton 	 
	 	 	Title:  	Authorized
Signatory 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., individually and as an

Issuing Bank,

 	 
	 	by  	/s/ William W. Stevenson
 	 
	 	 	Name:  	William W. Stevenson 	 
	 	 	Title:  	Vice President 	 
	 
	 	BNP PARIBAS, individually and as an Issuing
Bank,

 	 
	 	by  	/s/ Claudia Zarate
 	 
	 	 	Name:  	Claudia Zarate 	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	by  	

/s/ Francis J. Delaney
 	 
	 	 	Name:  	Francis J.  Delaney 	 
	 	 	Title:  	Managing Director 	 
	 
	 	DNB NOR BANK ASA, individually and as an

Issuing Bank,

 	 
	 	by  	/s/ Philip F. Kurpiewski
 	 
	 	 	Name:  	Philip F. Kurpiewski 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	 	 
	 	by  	

/s/ Cathleen Buckley
 	 
	 	 	Name:  	Cathleen Buckley 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	WELLS FARGO N.A., individually and as an

Issuing Bank,

 	 
	 	by  	/s/ Mark Oberreuter
 	 
	 	 	Name:  	Mark Oberreuter 	 
	 	 	Title:  	AVP 	 
	 
	 	PNC BANK NATIONAL ASSOCIATION., individually

and as an Issuing Bank,

 	 
	 	by  	/s/ Edward M. Tessalone
 	 
	 	 	Name:  	Edward M. Tessalone 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: Bayerische Landesbank,
New York Branch

 	 
	 	by  	/s/ Rolf Siebert
 	 
	 	 	Name:  	Rolf Siebert 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	For any Lender requiring a second signature block:

 	 
	 	by  	/s/ Gina Sandella
 	 
	 	 	Name:  	Gina Sandella 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: The Bank of Nova Scotia

 	 
	 	by  	/s/ John Frazell
 	 
	 	 	Name:  	John Frazell 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Deutsche Bank AG New York Branch

 	 
	 	by  	/s/ Philippe Sandmeier
 	 
	 	 	Name:  	Philippe Sandmeier 	 
	 	 	Title:  	Managing Director 	 
	 
	 	For any Lender requiring a second signature block:

 	 
	 	by  	/s/ Ming K. Chu
 	 
	 	 	Name:  	Ming K. Chu 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: HSBC Bank USA N.A.

 	 
	 	by  	/s/ John Robinson
 	 
	 	 	Name:  	John Robinson 	 
	 	 	Title:  	Managing Director 	 
	 

 

 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	
Banco Bilbao Vizcaya Argentaria, S.A. NY Branch

 	 
	 	by  	/s/ Luis Ruigomez
 	 
	 	 	Name: Luis Ruigomez 	 
	 	 	Title: Executive Director 	 
	 
	 	
For any Lender requiring a second signature block:

 	 
	 	by  	/s/ Guilherme Gobbo
 	 
	 	 	Name: Guilherme Gobbo 	 
	 	 	Title: Vice President

Global Corporate Banking 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	

Crédit Agricole Corporate and Investment Bank

 	 
	 	by  	/s/ David Gurghigian
 	 
	 	 	David Gurghigian 	 
	 	 	Managing Director 	 
	 
	 	For any Lender requiring a second signature block:

 	 
	 	by  	/s/ Michael Willis
 	 
	 	 	Michael Willis 	 
	 	 	Managing Director 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	

Name of Institution: ING Capital LLC

 	 
	 	by  	/s/ Cheryl Labelle
 	 
	 	 	Name:  	Cheryl Labelle 	 
	 	 	Title:  	Managing Director 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: Mizuho Corporate Bank, Ltd.

 	 
	 	by  	/s/ Leon Mo
 	 
	 	 	Name:  	Leon Mo 	 
	 	 	Title:  	Authorized Signatory 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: Societe Generale

 	 
	 	by  	/s/ Stephen W. Warfel
 	 
	 	 	Name:  	Stephen W. Warfel 	 
	 	 	Title:  	Managing Director 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Standard Chartered Bank

 	 
	 	by  	/s/ Brendan Herley
 	 
	 	 	Name:  	Brendan Herley A2556 	 
	 	 	Title:  	Director 	 
	 
	 	For any Lender requiring a second signature block:

 	 
	 	by  	/s/ Robert K. Reddington
 	 
	 	 	Name:  	Robert K. Reddington 	 
	 	 	Title:  	Credit Document Manager

Credit Documentation Unit; 
WB Legal-Americas 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: Sumitomo Mitsui Banking Corporation

 	 
	 	by  	      /s/ Natsuhiro Samejima
 	 
	 	 	Name:  	Natsuhiro Samejima 	 
	 	 	Title:  	Senior Vice President 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: CIBC Inc.

 	 
	 	by  	/s/ Robert W. Casey Jr.
 	 
	 	 	Name:  	Robert W. Casey Jr. 	 
	 	 	Title:  	Executive Director 	 
	 
	 	For any Lender requiring a second signature block:

 	 
	 	by  	/s/ Michael Gewirtz
 	 
	 	 	Name:  	Michael Gewirtz 	 
	 	 	Title:  	Executive Director 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	
COMMERZBANK AG, New York and Grand Cayman Branches

 	 
	 	by  	/s/ Hans Scholz
 	 
	 	 	Hans Scholz 	 
	 	 	Director 	 
	 
	 	by  	      /s/ Barbara Stacks
 	 
	 	 	Barbara Stacks 	 
	 	 	Assistant Vice President 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	
Name of Institution: Commonwealth Bank of Australia

 	 
	 	by  	/s/ Gregory A. Caione
 	 
	 	 	Name:  	Gregory A. Caione 	 
	 	 	Title:  	Head of Natural Resources, Americas 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: Intesa Saopaolo S.p.A.

 	 
	 	by  	/s/ Sergio Maggioni
 	 
	 	 	Name:  	Sergio Maggioni 	 
	 	 	Title:  	FVP and Head of Business 	 
	 
	 	For any Lender requiring a second signature block:

 	 
	 	by  	/s/ Glen Binder
 	 
	 	 	Name:  	Glen Binder 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

SIGNATURE PAGE TO

THE FIVE-YEAR CREDIT AGREEMENT

OF HESS CORPORATION

	 	 	 	 	 
	 	Name of Institution: THE NORTHERN TRUST COMPANY

 	 
	 	by  	/s/ Daniel J. Boote
 	 
	 	 	Name:  	Daniel J. Boote 	 
	 	 	Title:  	Senior Vice President 	 
	 

 

 

Schedule 2.01

Commitments

	 	 	 	 	 
	Lender	 	Commitment	 
	JPMorgan Chase Bank, N.A.
	 	$	270,000,000	 
	Citibank, N.A.
	 	 	270,000,000	 
	Goldman Sachs Bank USA
	 	 	270,000,000	 
	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	 	 	270,000,000	 
	The Royal Bank of Scotland plc
	 	 	270,000,000	 
	Bank of America, N.A.
	 	 	190,000,000	 
	Bayerische Landesbank, New York Branch
	 	 	190,000,000	 
	BNP Paribas
	 	 	190,000,000	 
	The Bank of Nova Scotia
	 	 	190,000,000	 
	Deutsche Bank AG New York Branch
	 	 	190,000,000	 
	DnB NOR Bank ASA
	 	 	190,000,000	 
	HSBC Bank USA N.A.
	 	 	190,000,000	 
	Banco Bilbao Vizcaya Argentaria, S.A., NY Branch
	 	 	120,000,000	 
	Crédit Agricole Corporate and Investment Bank
	 	 	120,000,000	 
	ING Capital LLC
	 	 	120,000,000	 
	Mizuho Corporate Bank, Ltd.
	 	 	120,000,000	 
	Societe Generale
	 	 	120,000,000	 
	Standard Chartered Bank
	 	 	120,000,000	 
	Sumitomo Mitsui Banking Corporation
	 	 	120,000,000	 
	Wells Fargo, NA
	 	 	120,000,000	 
	CIBC Inc.
	 	 	60,000,000	 
	Commerzbank AG, New York and Grand Cayman Branches
	 	 	60,000,000	 
	Commonwealth Bank of Australia
	 	 	60,000,000	 
	Intesa Sanpaolo S.p.A.
	 	 	60,000,000	 
	PNC Bank National Association
	 	 	60,000,000	 
	The Northern Trust Company
	 	 	60,000,000	 
	Total
	 	$	4,000,000,000.00	 
	 
	 	 	 

 

 

Schedule 2.06

LC Commitments

	 	 	 	 	 
	Issuing Bank	 	LC Commitment	 
	JPMorgan Chase Bank, N.A.
	 	$	500,000,000.00	 
	Citibank, N.A.
	 	$	500,000,000.00	 
	The Royal Bank of Scotland plc
	 	$	500,000,000.00	 
	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	 	$	500,000,000.00	 
	Goldman Sachs Bank USA
	 	$	500,000,000.00	 
	Bank of America, N.A.
	 	$	300,000,000.00	 
	BNP Paribas
	 	$	300,000,000.00	 
	DNB NoR Bank ASA
	 	$	300,000,000.00	 
	PNC Bank National Association
	 	$	300,000,000.00	 
	Wells Fargo, N.A.
	 	$	300,000,000.00	 
	 
	 	 	 
	Total
	 	$	4,000,000,000.00	 

 

 

Schedule 3.10

HESS CORPORATION

CONSOLIDATED SUBSIDIARY DEBT

(USD in thousands)

	 	 	 	 	 	 	 	 	 	 
	 	 	 		 	 	Amount due	 
	 	 	 	Total Debt at	 	 	 within one	 
	Consolidated Subsidiary Debt	 	 	4/14/2011	 	 	year	 
	Samara Nafta Holdings Limited *
	 	 	$	1,759	 	 	$	1,759	 
	Nuvera fuel Cells Inc.
	 	 	 	33	 	 	 	16	 
	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	Total Consolidated Subsidiary Debt
	 	 	$	1,792	 	 	$	1,775	 
	 
	 	 	 	 	 	 	 

 

			
	*	 	Based on exchange rates
as of 3/31/2011

 

 

Schedule 6.01

HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

EXISTING COMPANY LIENS

(USD in thousands)

	 	 	 	 	 
	 	 	As of	 
	Liens	 	4/14/2011	 
	Gas Station Private Placement

	 	$	60,680	 
	Baldpate Platform Lease

	 	 	57,212	 
	Enchilada Platform Lease

	 	 	31,840	 
	Mortgages Payable — Marketing

	 	 	1,996	 
	Samara Nafta Holdings Limited*

	 	 	1,759	 
	Nuvera Fuel Cells Inc.

	 	 	33	 
	 
	 	 	 	 
	Total Consolidated Secured Debt

	 	$	153,520	 
	 

	 	 	 	 

 

			
	*	 	Based on exchange rates as of 3/31/2011

 

 

EXHIBIT A

to Credit Agreement

FORM OF

ASSIGNMENT AND ACCEPTANCE

          This Assignment and Acceptance (the “Assignment and Acceptance”) is dated as of the
Effective Date set forth below and is entered into by and between the Assignor (as defined below)
and the Assignee (as defined below). Capitalized terms used but not defined herein shall have the
meanings given to them in the Credit Agreement identified below (the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and
Conditions set forth in Annex I attached hereto are hereby agreed to and incorporated herein by
reference and made a part of this Assignment and Acceptance as if set forth herein in full.

          For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other
documents or instruments delivered pursuant thereto to the extent related to the amount and
percentage interest identified below of all of such outstanding rights and obligations of the
Assignor under the Credit Agreement (including any letters of credit, guarantees and swingline
loans included in such facility) and (ii) to the extent permitted to be assigned under applicable
law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a
Lender) against any Person, whether known or unknown, arising under or in connection with the
Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan
transactions governed thereby or in any way based on or related to any of the foregoing, including
contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or
in equity, in each case to the extent related to the rights and obligations sold and assigned
pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i)
and (ii) above being referred to herein collectively as the “Assigned Interest”). Such
sale and assignment is without recourse to the Assignor and, except as expressly provided in this
Assignment and Acceptance, without representation or warranty by the Assignor.

	 	 	 	 	 

	1.

	 	Assignor:	 	 
	 

	 	 	 	 
 
	2.

	 	Assignee:	 	 
	 

	 	 	 	 
 
	 

	 	 	 	[an Affiliate of [Lender]][a fund that invests in bank loans
and is administered by [Lender][an Affiliate of a Lender]
	 
	 	 	 	 
	3.

	 	Borrower:
	 	Hess Corporation and the
Borrowing Subsidiaries identified in the
Credit Agreement
	 
	 	 	 	 
	4.

	 	Administrative Agent:
	 	JPMorgan Chase Bank, N.A., the
Administrative Agent under the Credit
Agreement

 

2

	 	 	 	 	 

	 
	 	 	 	 
	5.

	 	Credit Agreement:
	 	Five-Year Credit Agreement dated as of
April [14], 2011 (as amended, supplemented,
amended and restated or otherwise modified
from time to time), among Hess Corporation,
the Borrowing Subsidiaries party thereto,
the lenders from time to time party thereto
and JPMorgan Chase Bank, N.A., as
Administrative Agent
	 
	 	 	 	 
	6.

	 	Assigned Interest:1	 	 

	 	 	 	 	 	 	 	 	 
	Aggregate Amount of	 	Amount of	 	Percentage Assigned of
	Commitment/Revolving	 	Commitment/Revolving	 	Commitment/
	Credit Exposure for all	 	Credit Exposure	 	Revolving Credit
	Lenders	 	Assigned	 	Exposure2
	$
	 	$	 	 	 	 	%	 

Effective Date:                      ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL
BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

			
	1	 	To comply with the minimum assignment amounts
set forth in 10.04(b)(ii) of the Credit Agreement.
	 
	2	 	Set forth, to at least 9 decimals, as a
percentage of the Commitment/Revolving Credit Exposure of all Lenders
thereunder.

 

3

The terms set forth in this Assignment and Acceptance are hereby agreed to:

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	[Consented to]3 and Accepted:

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 
	Consented to:

[ISSUING BANK],4

as Issuing Bank

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

 

			
	3	 	To be included only if the consent of the Administrative Agent is required by Section 10.04(b)(i) of the Credit Agreement.
	 
	4	 	Consent of each Issuing Bank is required under Section 10.04(b) of the Credit Agreement.

 

4

	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A.,5

as Swingline Lender

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 
	[Consented to:]6

HESS CORPORATION

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

 

			
	5	 	Consent of the Swingline Lender is required under Section 10.04(b) of the Credit Agreement.
	 
	6	 	To be included only if the consent of the Company is required by Section 10.04(b)(i) of the Credit Agreement.

 

 

ANNEX I

HESS CORPORATION CREDIT AGREEMENT

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ACCEPTANCE

          1. Representations and Warranties.

          1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Acceptance and to consummate the
transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Loan Documents, (iii) the financial condition of the Company, any of
its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or
(iv) the performance or observance by the Company, any of its Subsidiaries or Affiliates or any
other Person of any of their respective obligations under any Loan Document.

          1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Acceptance and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement
that are required to be satisfied by it in order to acquire the Assigned Interest and become a
Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement and the other Loan Documents as a Lender thereunder and, to the extent of the Assigned
Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the
Credit Agreement and the other Loan Documents, together with copies of the most recent financial
statements delivered pursuant to Section 5.01 thereof, and such other documents and information as
it has deemed appropriate to make its own credit analysis and decision to enter into this
Assignment and Acceptance and to purchase the Assigned Interest on the basis of which it has made
such analysis and decision independently and without reliance on the Administrative Agent or any
other Lender, and (v) if it is a Lender that is a United States Person attached to this Assignment
and Acceptance is IRS Form W-9 certifying that such Lender is exempt from United States Federal
backup withholding tax, (vi) if it is a Foreign Lender, attached to this Assignment and Acceptance
is any documentation required to be delivered by it pursuant to Section 2.17 of the Credit
Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will,
independently and without reliance on the Administrative Agent, the Assignor or any other Lender,
and based on such documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it
will perform in accordance with their terms all of the obligations which by the terms of the Credit
Agreement and the other Loan Documents are required to be performed by it as a Lender.

          2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest,

 

2

fees
and other amounts) to the Assignee whether such amounts have accrued prior to or on or after the
Effective Date. The Assignor and the Assignee shall make all appropriate adjustments in payments
by the Administrative Agent for periods prior to the Effective Date or with respect to the making
of this assignment directly between themselves.

          3. General Provisions. This Assignment and Acceptance shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Acceptance may be executed in any number of counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which
when taken together shall constitute a one instrument. Delivery of an executed counterpart of a
signature page of this Assignment and Acceptance by telecopy shall be effective as delivery of a
manually executed counterpart of this Assignment and Acceptance. This Assignment and Acceptance
shall be construed in accordance with and governed by the law of the State of New York.

 

 

EXHIBIT B

to Credit Agreement

FORM OF NOTE

[•], 2011

      
    FOR VALUE RECEIVED, the undersigned, [NAME OF BORROWER],
a [          ] corporation
(the “Borrower”), unconditionally promises to pay to    
    
              
     
               (the
“Lender”) the aggregate unpaid principal amount of all Loans made by the Lender
to the
Borrower pursuant to the Five-Year Credit Agreement dated as of April 14, 2011 (as amended,
supplemented, amended and restated or otherwise modified from time to time, the “Credit
Agreement”), among Hess Corporation, the Borrowing Subsidiaries party thereto, the lenders
party thereto (including the Lenders identified herein) and JPMorgan Chase Bank, N.A., as
Administrative Agent, on such dates and in such amounts as are set forth in the Credit Agreement.
The amounts payable under the Credit Agreement may be reduced only in accordance with the terms of
the Credit Agreement. Unless otherwise defined, capitalized terms used herein have the meanings
provided in the Credit Agreement.

      
    The Borrower also promises to pay interest on the unpaid principal
amount hereof from time to
time outstanding from and including the date hereof until maturity (whether by acceleration or
otherwise) and, after maturity, until paid, at the rates per annum and on the dates specified in
the Credit Agreement.

      
    Payments of both principal and interest are to be made without setoff or
counterclaim in
lawful money of the United States of America in same day or immediately available funds to the
account designated by the Administrative Agent.

      
    This Note is one of the Notes referred to in, and evidences the Loans
made by the Lender
under, the Credit Agreement, to which reference is made for a statement of the terms and conditions
on which the Borrower is permitted and required to make prepayments and repayments of principal of
the indebtedness evidenced by this Note and on which such indebtedness may be declared to be or
shall automatically become immediately due and payable.

      
    THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

	 	 	 	 	 
	 	[NAME OF BORROWER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

2

	 	 	 	 	 

LOAN AND PRINCIPAL PAYMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Amount of	 	 	Unpaid	 	 	 	 
	 	 	 	 	Amount	 	 	Principal	 	 	Principal	 	 	Notations	 
	Date	 	 	of Loan	 	 	Repaid	 	 	Balance	 	 	Made By	 

 

EXHIBIT C-1

to Credit Agreement

HESS CORPORATION

1185 Avenue of the Americas

New York, NY 10036

Timothy B. Goodell

Senior Vice President

and General Counsel

April 14, 2011

JPMorgan Chase Bank, N.A.

as Administrative Agent

270 Park Avenue

New York, New York 10017

The Lenders and Issuing Banks party to the

   Credit Agreement referred to below from time to time

Ladies and Gentlemen:

          I am the general counsel of Hess Corporation, a Delaware corporation (the “Company”), and have
acted as such in connection with the preparation, execution and delivery of the Five-Year Credit
Agreement, dated as of April 14, 2011 (the “Credit Agreement”), among the Company, Hess Oil and Gas
Holdings Inc. (“HOGH”), Hess Oil Virgin Islands Corporation (“HOVIC”) Hess International Holdings
Limited (“HIHL”, and together with HOGL and HOVIC, the “Borrowing Subsidiaries”), the several banks
and other financial institutions from time to time parties thereto (the “Lenders”) and JPMorgan
Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”).

          The opinions expressed below are furnished to you pursuant to Section 4.01(b) of the Credit
Agreement. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement.

          In rendering the opinions expressed below, I have examined the following documents:

          (a) the Credit Agreement and any Notes signed by the Company and the Borrowing Subsidiaries
(the Credit Agreement and any such Notes being hereinafter referred to collectively as the
“Transaction Documents”); and

          (b) such corporate documents and records of the Company and the Borrowing Subsidiaries and
such other instruments and certificates of public officials, officers and
representatives of the Company, the Borrowing Subsidiaries and other Persons as I have deemed
necessary or appropriate for the purpose of this opinion.

          In rendering the opinions expressed below, I have (a) relied as to certain matters of fact on
certificates of the officers of the Company and the Borrowing Subsidiaries,

 

 

(b) assumed, with your
permission, without independent investigation or inquiry, (i) the authenticity of all documents
submitted as originals, (ii) the genuineness of all signatures on all documents that I have
examined (other than those of the Company or the Borrowing Subsidiaries and officers of the Company
or the Borrowing Subsidiaries) and (iii) the conformity to authentic originals of documents
submitted as certified, conformed or photostatic copies.

          When the opinions expressed below are stated “to the best of my knowledge,” I have made
reasonable and diligent investigation of the subject matters of such opinions and have no reason to
believe that there exist any facts or other information that would render such opinions incomplete
or incorrect.

          Based upon and subject to the foregoing, I am of the opinion that:

          1. The Company is duly incorporated and is validly existing as a corporation in good standing
under the laws of the jurisdiction of its corporation.

          2. The Company has the corporate power and authority to own, lease and operate its properties
and to conduct the business in which it is currently engaged and is duly qualified to transact
business as a foreign corporation or other legal entity and is in good standing or appropriately
qualified in each jurisdiction where its ownership, leasing, or operation of property or the
conduct of its business requires such qualification, except to the extent that the failure to have
such power and authority and the failure to be so qualified and in good standing does not, in the
aggregate, constitute a Material Adverse Effect.

          3. The Company has the corporate power and authority to make, deliver and perform its
obligations under each Transaction Document to which it is a party and to borrow under the Credit
Agreement. The Company has taken all necessary corporate action to authorize the borrowings on the
terms and conditions of the Credit Agreement, including its guarantee of the Guaranteed
Obligations, and the other Transaction Documents to which it is a party, and to authorize the
execution, delivery and performance of the Credit Agreement and each other Transaction Document to
which it is a party. No consent or authorization of, notice to, filing with or other act by or in
respect of, any Governmental Authority or any other Person is required in connection with (i) the
borrowings by any Borrower under the Credit Agreement or the guarantee by the Company of the
Guaranteed Obligations or (ii) the execution, delivery and performance by any Borrower, or the
validity or enforceability against any Borrower, of each Transaction Document to which it is a
party.

          4. Each Transaction Document has been duly executed and delivered on behalf of each Borrower
that is a party thereto. Each Transaction Document constitutes a legal, valid and binding
obligation of each Borrower that is a party thereto, enforceable against such Borrower in
accordance with its terms.

          5. The execution and delivery of each Transaction Document by each
Borrower, the performance by each Borrower of its obligations thereunder, the consummation of
the transactions contemplated thereby, the compliance by each Borrower with any of the provisions
thereof, the borrowings by any Borrower under the Credit Agreement and the use of proceeds thereof,
and the guarantee by the Company of the Guaranteed Obligations, all as

 

 

provided therein, (a) will
not violate (i) in the case of the Company, The Restated Certificate of the Company and the By-Laws
of the Company, (ii) any requirement of law or any regulation or order of any Governmental
Authority applicable to any Borrower or (iii) any Contractual Obligation of any Borrower or any of
its Subsidiaries, (b) will not result in, or require, the creation or imposition of any Lien on any
of its or their respective assets or properties pursuant to any such requirement of law (or
regulation or order) or Contractual Obligation or (c) require any license, consent or approval of
or notice to or filing with, any Governmental Authority.

          6. To the best of my knowledge, no litigation, investigation or proceeding of or before any
arbitrator or Governmental Authority is pending or threatened by or against any Borrower or against
any of its or their respective properties or revenues (a) with respect to the Credit Agreement or
any of the other Transaction Documents or (b) which would constitute a Material Adverse Effect.

          7. None of the Borrowers is an “investment company” or a company “controlled” by an
“investment company” within the meaning of the Investment Company Act of 1940, as amended. None of
the Borrowers is subject to regulation under any Federal or state statute or regulation which
limits its ability to incur indebtedness.

          8. The use of proceeds of the Loans, as limited by the provisions of the Credit Agreement,
does not violate Regulations U and X of the Board as in effect from time to time.

          The opinions set forth in the second sentence of paragraph 4 above are subject to the effects
of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws
relating to or affecting creditors’ rights generally, general equitable principles (whether
considered in a proceeding in equity or at law), including, without limitation, concepts of
materiality and reasonableness and an implied covenant of good faith and fair dealing.

          I am a member of the bar of the State of New York and the opinions expressed herein are based
upon and are limited to the laws of such state, the General Corporation Law of the State of
Delaware and the Federal laws of the United States of America.

 

 

          This opinion has been rendered solely for your benefit and for the benefit of your permitted
assignees pursuant to Section 10.04 of the Credit Agreement in connection with the Credit Agreement
and the other Transaction Documents and the transactions contemplated thereby and may not be used,
circulated, quoted, relied upon or otherwise referred to for any other purpose without my prior
written consent; provided, however, that this opinion may be delivered to your
regulators, accountants, attorneys and other professional advisers and may be used in connection
with any legal or regulatory proceeding relating to the subject matter of this opinion.

Very
truly yours,

/s/ Timothy B.
Goodell

 

 

EXHIBIT C-2

to the Credit Agreement

FORM OF OPINION FOR THE BORROWING SUBSIDIARIES

	1.	 	With respect to the initial Borrowing Subsidiaries as of April 14, 2011, the
date of the Five-Year Credit Agreement (the “Credit Agreement”), among the
Company, the Borrowing Subsidiaries party thereto, the Lenders party thereto and
JPMorgan Chase Bank, N.A., as the Administrative Agent, the form of opinion shall be in
the applicable form of opinion attached as Annex I hereto and in Exhibit C-1.
	 
	2.	 	With respect to any future Borrowing Subsidiary designated pursuant to Section
2.20 of the Credit Agreement, the opinions from New York and applicable local counsel
in form and substance reasonably satisfactory to the Administrative Agent and covering
such matters as are substantially similar to the matters covered or are otherwise
reasonably satisfactory to the Administrative Agent, as to the initial Borrowing
Subsidiaries, in the opinions attached as Annex I hereto and in Exhibit C-1.

 

 

Annex I

 

 

Our ref JMM/603406/20869027v1

JPMorgan Chase Bank, N.A.

as Administrative Agent under the Credit

Agreement (as defined below)

270 Park Avenue

New York, New York 10017

The Lenders and Issuing Banks party to the Credit
Agreement

14 April 2011  

Dear Sirs

Hess Oil and Gas Holdings Inc. (“HOGHI”) and Hess International Holdings Limited (“HIHL”
and together with HOGHI, the “Borrowing Subsidiaries”)

We have acted as counsel as to Cayman Islands law to Hess Corporation and the Borrowing
Subsidiaries in connection with the Five Year Credit Agreement dated as of 14 April 2011
(the “Credit Agreement”), among Hess Corporation, Hess Oil Virgin Islands Corporation,
the Borrowing Subsidiaries, the Lenders party thereto and JPMorgan Chase Bank, N.A. as
Administrative Agent.

1 Documents Reviewed

We have reviewed originals, copies, drafts or conformed copies of the following documents:

	1.1	 	The Certificate of Incorporation and Certificate of Incorporation on Change of Name and
Memorandum and Articles of Association of HOGHI as registered on 14 September 2000 as amended
by special resolution passed on 4 February 2002.

	1.2	 	The Certificate of Incorporation and Certificate of Incorporation on Change of Name and
Memorandum and Articles of Association of HIHL as adopted by special resolution passed on 18
December 2007.

	1.3	 	The written resolutions of the Board of Directors of HOGHI dated 12 April 2011 (the
“HOGHI Resolutions”) and the corporate records of HOGHI maintained at its registered
office in the Cayman Islands.

	1.4	 	The written resolutions of the Board of Directors of HIHL dated 12 April 2011 (the
“HIHL Resolutions”) and the corporate records of HIHL maintained at its registered
office in the Cayman Islands.

Maples and Calder

PO Box 309   Ugland House   Grand Cayman   KY1-1104 Cayman Islands

Tel +1 345 949 8066   Fax +1 345 949 8080   www.maplesandcalder.com

 

 

	1.5	 	A Certificate of Good Standing issued by the Registrar of Companies (the “Certificates of
Good Standing”) with respect to each of the Borrowing Subsidiaries.

	1.6	 	A certificate from a Director of each of the Borrowing Subsidiaries, copies of which are
annexed hereto (the “Director’s Certificates”).

	1.7	 	The Credit Agreement.

	1.8	 	Any Notes executed by the Borrowing Subsidiaries as contemplated by the Credit Agreement.

The documents referred to in paragraphs 1.7 to 1.8 above are collectively referred to as the
“Transaction Documents”.

2 Assumptions

The following opinion is given only
as to, and based on circumstances and matters of fact
existing and known to us on ;the date of this opinion. This opinion only relates to the laws of
the Cayman Islands which are in force on the date of this opinion. In giving this opinion we have
relied (without further verification) upon the completeness and accuracy of the Director’s
Certificates and the Certificates of Good Standing. We have also relied upon the following
assumptions, which we have not independently verified:

	2.1	 	The choice of the laws of the State of New York as the governing law of the Transaction
Documents has been made in good faith and would be regarded as a valid and binding selection
which will be upheld by the courts of the State of New York as a matter of the laws of the
State of New York and all other relevant laws (other than the laws of the Cayman Islands).

	2.2	 	Copy documents, conformed copies or drafts of documents provided to us are true and complete
copies of, or in the final forms of, the originals, and translations of documents provided to
us are complete and accurate.

	2.3	 	All signatures, initials and seals are genuine.

	2.4	 	There is nothing under any law (other than the law of the Cayman Islands) which would or
might affect the opinions hereinafter appearing. Specifically, we have made no independent
investigation of the laws of the State of New York.

	2.5	 	In relation to the opinions in paragraphs 3.12 and 3.13 below only, none of the parties to
the Transaction Documents (other than the Borrowing Subsidiaries) is a company incorporated,
or a partnership or foreign company registered, under applicable Cayman Islands law and all
the activities of such parties in relation to the Transaction Documents and any transactions
entered into thereunder have not been and will not be carried on through a place of business
in the Cayman Islands.

3 Opinions

Based upon, and subject to, the foregoing assumptions and the qualifications set out below,
and having regard to such legal considerations as we deem relevant, we are of the opinion that:

	3.1	 	Each of the Borrowing Subsidiaries has been duly incorporated as an exempted company with
limited liability and is validly existing and in good standing under the laws of the Cayman
Islands.

2

 

	3.2	 	Each of the Borrowing Subsidiaries has full power and authority under its Memorandum and
Articles of Association to enter into, execute and perform its obligations under the
Transaction Documents and to borrow under the Credit Agreement.

	3.3	 	The execution and delivery of the Transaction Documents and the performance by each of the
Borrowing Subsidiaries of its obligations thereunder do not conflict with or result in a
breach of any of the terms or provisions of the Memorandum and Articles of Association of
each of the Borrowing Subsidiaries or any law, public rule or regulation applicable to the
Borrowing Subsidiaries in the Cayman Islands currently in force.

	3.4	 	The execution, delivery and performance of the Transaction Documents have been authorised by
and on behalf of each of the Borrowing Subsidiaries.

	3.5	 	No authorisations, consents, approvals, licences, validations, exemptions or other acts are
required by law from any governmental authorities or agencies or other official bodies in the
Cayman Islands in connection with:

	 	(a)	 	the creation, execution or delivery of the Transaction Documents by each of
the Borrowing Subsidiaries;
	 
	 	(b)	 	subject to the payment of the appropriate stamp duty, enforcement of the
Transaction Documents against each of the Borrowing Subsidiaries; or
	 
	 	(c)	 	the performance by each of the Borrowing Subsidiaries of its obligations under
any of the Transaction Documents.

	3.6	 	No taxes, fees or charges (other than stamp duty) are payable (either by direct assessment
or withholding) to the government or other taxing authority in the Cayman Islands under the
laws of the Cayman islands in respect of:

	 	(a)	 	the execution or delivery of the Transaction Documents;
	 
	 	(b)	 	the enforcement of the Transaction Documents; or
	 
	 	(c)	 	payments made under, or pursuant to, the Transaction Documents.

	 	 	The Cayman Islands currently have no form of income, corporate or capital gains tax and no
estate duty, inheritance tax or gift tax.

	3.7	 	Based solely on our search of the Register of Writs and Other Originating Process (the
“Court Register”) maintained by the Clerk of the Court of the Grand Court of the Cayman
Islands from the date of incorporation of each of the Borrowing Subsidiaries to 12 April 2011
(the “Litigation Search”), the Court Register disclosed no writ, originating
summons, originating motion, petition, counterclaim nor third party notice (“Originating
Process”) nor any amended Originating Process pending before
the Grand Court of the Cayman Islands, in which either of the Borrowing Subsidiaries is a
defendant or respondent.

	3.8	 	Although there is no statutory enforcement in the Cayman Islands of judgments obtained in
the State of New York, a judgment obtained in such jurisdiction will be recognised and
enforced in the courts of the Cayman Islands at common law, without any re-examination of the
merits of the

3

 

	 	 	underlying dispute, by an action commenced on the foreign judgment debt in the Grand Court
of the Cayman Islands, provided such judgment:

	 	(a)	 	is given by a foreign court of competent jurisdiction;
	 
	 	(b)	 	imposes on the judgment debtor a liability to pay a liquidated sum for which
the judgment has been given;
	 
	 	(c)	 	is final;
	 
	 	(d)	 	is not in respect of taxes, a fine or a penalty; and
	 
	 	(e)	 	was not obtained in a manner and is not of a kind the enforcement of which is
contrary to natural justice or the public policy of the Cayman Islands.

	3.9	 	The courts of the Cayman Islands will observe and give effect to the choice of the laws of
the State of New York as the governing law of the Transaction Documents.
	 
	3.10	 	The submission by the Borrowing Subsidiaries in the Transaction Documents to the exclusive
jurisdiction of the Supreme Court of the State of New York and of the United States District
Court of the Southern District of New York and any appellate court from any thereof is legal,
valid and binding on each of the Borrowing Subsidiaries assuming that the same is true under
the governing law of the Transaction Documents and under the laws, rules and procedures
applying in the courts of Supreme Court of the State of New York and of the United States
District Court of the Southern District of New York.
	 
	3.11	 	The courts of the Cayman Islands have jurisdiction to give judgment in the currency of the
relevant obligation and statutory rates of interest payable upon judgments will vary
according to the currency of the judgment. If the Borrowing Subsidiaries become insolvent and
are made subject to a liquidation proceeding, the courts of the Cayman Islands will require
all debts to be proved in a common currency, which is likely to be the “functional currency”
of the Borrowing Subsidiaries determined in accordance with applicable accounting principles.
Currency indemnity provisions have not been tested, so far as we are aware, in the courts of
the Cayman Islands.
	 
	3.12	 	None of the parties to the Transaction Documents (other than the Borrowing Subsidiaries) is
or will be treated as resident, domiciled or carrying on or transacting business in the
Cayman Islands solely by reason of the negotiation, preparation, enforcement or execution of
the Transaction Documents.
	 
	3.13	 	None of the parties to the Transaction Documents (other than the Borrowing Subsidiaries)
will be required to be licenced, qualified, or otherwise entitled to carry on business in the
Cayman Islands in order to enforce their respective rights under the Transaction Documents,
or as a consequence of the execution, delivery and performance of the Transaction Documents.
	 
	3.14	 	It is not necessary to ensure the legality, validity, enforceability or admissibility in
evidence of the Transaction Documents that any document be filed, recorded or enrolled with
any governmental authority or agency or any official body in the Cayman Islands.
	 
	3.15	 	There are no usury or interest limitation laws in the Cayman Islands which would limit the
recovery of payments from the Borrowing Subsidiaries in accordance with the Transaction
Documents.

4

 

4 Qualifications

	4.1	 	Cayman Islands stamp duty may be payable if the original Transaction Documents are
brought to or executed in the Cayman Islands.

	4.2	 	To maintain the Borrowing Subsidiaries in good standing under the laws of the Cayman
Islands, annual filing fees must be paid and returns made to the Registrar of Companies.

	4.3	 	The obligations of the Borrowing Subsidiaries may be subject to restrictions pursuant to
United Nations sanctions as implemented under the laws of the Cayman Islands and/or
restrictive measures adopted by the European Union Council for Common Foreign and Security
Policy extended to the Cayman Islands by the Order of Her Majesty in Council.

	4.4	 	A certificate, determination, calculation or designation of any party to the Transaction
Documents as to any matter provided therein might be held by a Cayman Islands court not to be
conclusive, final and binding if, for example, it could be shown to have an unreasonable or
arbitrary basis, or in the event of manifest error.

	4.5	 	We reserve our opinion as to the enforceability of the relevant provisions of the
Transaction Documents to the extent that they purport to grant exclusive jurisdiction to the
courts of a particular jurisdiction as there may be circumstances in which the courts of the
Cayman Islands would accept jurisdiction notwithstanding such provisions.

	4.6	 	The Litigation Search of the Court Register would not reveal, amongst other things, an
Originating Process filed with the Grand Court which, pursuant to the Grand Court Rules or
best practice of the Clerk of the Courts’ office, should have been entered in the Court
Register but was not in fact entered in the Court Register (properly or at all).

	4.7	 	In principle the courts of the Cayman Islands will award costs and disbursements in
litigation in accordance with the relevant contractual provisions but there remains some
uncertainty as to the way in which the rules of the Grand Court will be applied in practice.
Whilst it is clear that costs incurred prior to judgment can be recovered in accordance with
the contract, it is likely that post-judgment costs (to the extent recoverable at all) will
be subject to taxation in accordance with Grand Court Rules Order 62.

	4.8	 	We make no comment with regard to the references to foreign statutes in the Transaction
Documents.

We express no view as to the commercial terms of the Transaction Documents or whether such
terms represent the intentions of the parties and make no comment with regard to the
representations that may be made by the Borrowing Subsidiaires.

This opinion is addressed to and is for the benefit solely of the addressees only and permitted
assignees pursuant to Section 10.04 of the Credit Agreement and may not be relied upon by, or
disclosed to, any other person without our prior written consent.

	 	 	 	 	 
	Yours faithfully

 	 	 
	
/s/ Maples and Calder
 	 	 
	Maples and Calder 	 	 
	 	 	 
	 

5

 

Hess Oil and Gas Holdings Inc.

Caledonian Trust (Cayman) Limited

Caledonian House, Dr. Roy’s Drive

P.O. Box 1043GT

Georgetown, B.W.I.

Cayman Islands

April 14, 2011

	To: 	 	 Maples and Calder

PO Box 309, Ugland House

Grand Cayman 
KY1-1104 
Cayman
Islands

Dear Sirs

Hess Oil and Gas Holdings Inc.
(the “Company”)

I, George
C. Barry, being a director of the Company, am aware that you are being asked to provide a
legal opinion (the “Opinion”) in relation to certain aspects of Cayman Islands law. Capitalised
terms
used in this certificate have the meaning given to them in the Opinion. I hereby certify that:

	1	 	The Memorandum and Articles of Association of the Company registered on 14 September 2000
remain in full force and effect and are unamended save for the amendments made by special
resolution passed on 4 February 2002.
	 
	2	 	The Resolutions were signed by all the directors in the manner prescribed in the Articles of
Association of the Company.
	 
	3	 	The shareholders of the Company have not restricted or limited the powers of the directors
in any way. There is no contractual or other prohibition (other than as arising under Cayman
Islands law) binding on the Company prohibiting it from entering into and performing its
obligations under the Transaction Documents.
	 
	4	 	The Resolutions were duly adopted, are in full force and effect at the date hereof and have
not been amended, varied or revoked in any respect.
	 
	5	 	The directors of the Company at the date of Resolutions and at the date hereof were and are
as follows. George C. Barry, Timothy B. Goodell, John B. Hess, Gregory P. Hill and John P.
Rielly.
	 
	6	 	You have been provided with complete and accurate copies of all minutes of meetings or
written resolutions or consents of the shareholders and directors (or any committee thereof)
of the Company (which were duly convened, passed and/or (as the case may be) signed and
delivered in accordance with the Articles of Association of the Company) and the Certificate
of Incorporation, Memorandum and Articles of Association (as adopted on incorporation and as
subsequently amended) and statutory registers of the Company.

 

	7	 	Prior to, at the time
of, and immediately following the execution of the Transaction Documents the Company was, or
will be, able to pay its debts as they fell, or fall, due and has entered, or will enter,
into the Transaction Documents for proper value and not with an
intention to defraud or
wilfully defeat an obligation owed to any creditor or with a view to giving a creditor a
preference.
	 
	8	 	Each director considers the transactions contemplated by the Transaction Documents to be of
commercial benefit to the Company and has acted bona fide in the best interests of the
Company, and for a proper purpose of the Company, in relation to the transactions which are
the subject of the Opinion.
	 
	9	 	To the best of my knowledge and belief, having made due inquiry, the Company is not the
subject of legal, arbitral, administrative or other proceedings in any jurisdiction. Nor have
the directors or shareholders taken any steps to have the Company struck off or placed in
liquidation, nor have any steps been taken to wind up the Company. Nor has any receiver been
appointed over any of the Company’s property or assets.
	 
	10	 	The Company is not a central bank, monetary authority or other sovereign entity of any state
and is not a subsidiary, direct or indirect, of any sovereign entity or state.

I confirm that you may continue to rely on this certificate as being true and correct on the
day that you
issue the Opinion unless I shall have previously notified you
personally to the contrary.

	 	 	 	 	 
	 	 	 
	Signature:  	

/s/ George C. Barry
 	 	 
	 	Director 	 	 
	 	 	 	 

2

 

	 	 	 	 	 

Hess International Holdings Limited
Caledonian Trust (Cayman) Limited
Caledonian House, Dr. Roy’s Drive
P.O. Box 1043GT
Georgetown, B.W.I.
Cayman Islands

April 14, 2011

	To: 	 	 Maples and Calder
PO Box 309, Ugland House
Grand
Cayman
 KY1-1104
Cayman Islands

Dear Sirs

Hess International Holdings Limited (the “Company”)

I, John P. Rielly, being a director of the Company, am aware that you are being asked to
provide a legal
opinion (the “Opinion”) in relation to certain aspects of Cayman Islands law. Capitalised terms
used in
this certificate have the meaning given to them in the Opinion. I hereby certify that:

	1	 	The Memorandum and Articles of Association of the Company registered on 31 October 2003
remain in full force and effect and are unamended save for the amendments made by special
resolution passed on 4 February 2002.
	 
	2	 	The Resolutions were signed by all the directors in the manner prescribed in the Articles of
Association of the Company.
	 
	3	 	The shareholders of the Company have not restricted or limited the powers of the directors
in any way. There is no contractual or other prohibition (other than as arising under Cayman
Islands law) binding on the Company prohibiting it from entering into and performing its
obligations under the Transaction Documents.
	 
	4	 	The Resolutions were duly adopted, are in full force and effect at the date hereof and have
not been amended, varied or revoked in any respect.
	 
	5	 	The directors of the Company at the date of Resolutions and at the date hereof were and are
as follows; Timothy B. Goodell, John B. Hess, Gregory P. Hill, John P. Rielly and John Simon.
	 
	6	 	You have been provided with complete and accurate copies of all minutes of meetings or
written resolutions or consents of the shareholders and directors (or any committee thereof)
of the Company (which were duly convened, passed and/or (as the case may be) signed and
delivered in accordance with the Articles of Association of the Company) and the Certificate
of Incorporation, Memorandum and Articles of Association (as adopted on incorporation and as
subsequently amended) and statutory registers of the Company.
	 
	7	 	Prior to, at the time of, and immediately following the execution of the Transaction
Documents the Company was, or will be, able to pay its debts as they fell, or fall, due and has
entered, or will

3

 

	 	 	enter, into the Transaction Documents for proper value and not with an intention to
defraud or wilfully defeat an obligation owed to any creditor or with a view to giving a creditor
a preference.
	 
	8	 	Each director considers the transactions contemplated by the Transaction Documents to be of
commercial benefit to the Company and has acted bona fide in the best interests of the
Company and for a proper purpose of the Company, in relation to the transactions which are
the subject of the Opinion.
	 
	9	 	To the best of my knowledge and belief, having made due inquiry, the Company is not the
subject of legal, arbitral, administrative or other proceedings in any jurisdiction. Nor have
the directors or shareholders taken any steps to have the Company struck off or placed in
liquidation, nor have any steps been taken to wind up the Company. Nor has any receiver been
appointed over any of the Company’s property or assets.
	 
	10	 	The Company is not a central bank, monetary authority or other sovereign entity of any state
and is not a subsidiary, direct or indirect, of any sovereign entity or state.

I confirm that you may continue to rely on this certificate as being true and correct on the day
that you issue the Opinion unless I shall have previously notified you personally to the contrary.

	 	 	 	 	 
	 	 	 
	Signature:  	/s/ John P. Rielly
 	 	 
	 	Director 	 	 
	 	 	 	 
	 

4

 

DUDLEY, TOPPER and FEUERZEIG, llp

	 	 	 	 	 

	attorneys at law
	 	 	 	 
	______	 	 	 	 
		 	 	 	 
	george h.t. dudley

	 	Law House
	 	Mailing Address:
	henry l. feuerzeig

	 	1000 Frederiksberg Gade
	 	P.O. Box 756
	gregory h. hodges

	 	Charlotte Amalie, St. Thomas
	 	St. Thomas, VI 00804-0756
	thomas c. o’keefe

	 	U.S. Virgin Islands 00802-6736
	 	Telephone: (340) 774-4422
	chad c. messier

	 	E-mail: info@dtflaw.com
	 	Facsimile: (340) 715-4400
	lisa n. sweet

	 	Web: www.DTFLaw.com	 	 

April 14, 2011

JPMorgan Chase Bank, N.A.,

     as Administrative Agent, under the Credit Agreement referred to below

c/o JPMorgan Chase Bank, N.A.,

   Loan & Agency Services

   1111 Fannin, 10th Floor

   Houston, Texas 77002

	Re:	 	 The Opinion Documents (as that term is defined herein)

DTF File No. 5421-01

The Lenders and Issuing Banks party to the Credit Agreement
referred to below from time to time

Ladies and Gentlemen:

          We are rendering this opinion to you as special U.S.
Virgin Islands counsel to Hess Oil Virgin Islands Corp., a U.S.
Virgin Islands corporation (“HOVIC”) pursuant to Section
4.03(b) of the Five-Year Credit Agreement dated as of April 14,
2011 (the “Credit Agreement”), among Hess Corporation, Hess Oil
and Gas Holdings Inc., HOVIC, Hess International Holdings
Limited, the lenders party thereto, and JPMorgan Chase Bank, N.A. as Administrative Agent. In connection therewith, we have
reviewed the following documents:

	 	(1)	 	the Credit Agreement;
	 
	 	(2)	 	the Note(s) in the
form attached as Exhibit B to the Credit
Agreement (collectively, the “Note”);
	 
	 	(3)	 	the Articles of
Incorporation, By-laws of HOVIC and all
amendments thereto (the “Charter”);
	 
	 	(4)	 	the By-laws of HOVIC and all
amendments thereto (the “Bylaws”); and
	 
	 	(5)	 	the resolutions of HOVIC relating to
the foregoing.

          The Credit Agreement and the Note are collectively
referred to herein as the “Opinion Documents.” Capitalized
terms used herein and not otherwise defined shall have the
meaning ascribed to them in the Credit Agreement.

 

 

DUDLEY, TOPPER and FEUERZEIG, llp

          We also have examined the original, or copies certified or otherwise identified to our
satisfaction, of such (i) certificates and consents or approvals of public officials, (ii)
certificates of officers and representatives of HOVIC, and (iii) other records, agreements,
instruments and documents, and we have made such other investigations, as we have deemed relevant
or necessary.

          We note that the Opinion Documents provide that they will be governed by the laws of the
State of New York. We call to your attention that we are not members of the bar of any
jurisdiction other than the U.S. Virgin Islands, and, therefore our opinion is strictly limited to
the laws of the Territory of the U.S. Virgin Islands and to the federal law of the United States
to the extent applicable to the U.S. Virgin Islands, and as to all matters governed by the law of
any other jurisdiction, we express no opinion.

          In our examinations, we have assumed: (a) the genuineness of all signatures, the authenticity
of all documents submitted to us as originals, the conformity to original documents of all
documents submitted to us as certified or photostatic copies, and the authenticity of the
originals of such copies; (b) the due
organization, valid existence and good standing of each of the parties thereto (other than
HOVIC) under the laws of the jurisdictions in which they are organized; and (c) that each of the
parties thereto (other than HOVIC) has the power and authority to execute and deliver the Opinion
Documents and to perform its obligations thereunder, and that all such actions have been duly and
validly authorized by all necessary proceedings on the part of such parties (other than HOVIC). We
have assumed the due execution and delivery, pursuant to due authorization, of the Opinion
Documents by the parties thereto (other than HOVIC).

          Whenever our opinion herein with respect to the existence or absence of facts is qualified by
the phrase, “to the best of our knowledge” or “known to us” or the like, we mean that, during the
course of our representation of HOVIC, we have made inquiry of the officers of HOVIC who by virtue
of their position, would have reason to know of such facts, and no information has come to our
attention which has given us actual knowledge of the existence of facts to the contrary. In
addition, we have relied, as to matters of fact, upon the representations and certificates of
public officials and the representations made in the Opinion Documents. We have not, however, in
rendering this opinion, undertaken any other independent investigation to determine the existence
or absence of such facts, but have relied upon the representations as described above, which we
have no reason to believe are inaccurate, and the matters within our files. Further be advised
that the phrases “we”, “us” and “our” and the like are intended to identify only the attorneys of
this firm who have given substantive attention to this matter in representing HOVIC.

          Our opinion with respect to the enforceability of the Opinion Documents assumes that any
party seeking to enforce such instrument(s) will do so in good faith, and is further subject to
the following exceptions, qualifications and limitations: (a) the effect of applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws now existing or hereafter enacted
relating to or affecting the enforcement of creditors and/or

2 

 

DUDLEY, TOPPER and FEUERZEIG, llp

secured parties rights generally; (b)
limitations based on general principles of equity (regardless of whether such enforceability is
considered a proceeding in equity or at law); (c) limitations based on public policy limiting a
party’s right to waive the benefit of statutory or common law provisions; (d) the phrase
“enforceable in accordance with its terms” may not include the availability of the remedy of
specific performance, the remedy of injunctive relief or the appointment of a receiver as a matter
of right, as such matters are subject to the discretion of the court before which any proceeding
therefor may be brought; and (e) we express no opinion as to the enforceability of any provision
of the Opinion Documents (1) restricting access to legal or equitable remedies, (2) providing for
non-judicial foreclosure, prejudgment remedies, self-help remedies, liquidated damages or
penalties (including, but not limited to, prepayment fees that are deemed
penalties), or the concurrent pursuit of alternative remedies, (3) purporting to grant
exclusive jurisdiction in any court,
(4) purporting to waive personal service in connection with any judicial process,
(5) purporting to waive trial by jury, and (6) purporting to establish by agreement between the
parties, the time at which and the circumstances pursuant to which a party is entitled to have a
judgment entered in connection with any judicial process; except that it is our opinion that the
application of the limitations and qualifications expressed in (c), (d) and (e) above will not
preclude the judicial enforcement of the obligation of any party to perform under the Opinion
Documents and will not materially interfere with the practical realization of the benefits
intended to be provided to any party by the Opinion Documents, except for the economic
consequences of any procedural delay that may result from application of the above-referenced
limitations and restrictions on the enforceability of the Opinion Documents.

          In rendering our opinion with respect to the due authorization, execution and delivery of the
Opinion Documents we specifically have relied on the Certificate of HOVIC’s Secretary, attached
hereto as Exhibit A.

          Based upon, and subject to the foregoing, and any other qualifications set forth herein, we
are of the opinion that:

          1. HOVIC has been duly organized, is validly existing and in good standing under the laws of
the U.S. Virgin Islands and has all corporate power and authority necessary to own its property
and carry on its business as presently conducted. As of the date hereof, HOVIC is a Consolidated
Subsidiary of Hess Corporation.

          2. HOVIC has all corporate power and authority necessary to execute, deliver and incur its
obligations under the Opinion Documents and to perform its obligations in relation thereto.

          3. The Opinion Documents have been duly authorized, executed and delivered by HOVIC.

          4. The performance of HOVIC’s obligations contemplated by the Opinion Documents will not
conflict with, or result in the breach of, or constitute a default

3 

 

DUDLEY,
TOPPER and FEUERZEIG, llp

under, (i) the Charter or the Bylaws; (ii) any law in the U.S. Virgin Islands; (iii) to
the best of our knowledge, any writ, injunction, or decree of any governmental authority
applicable to HOVIC; or (iv) to the best of our knowledge, any contractual restriction binding on
or affecting HOVIC.

          5. Assuming that the Opinion Documents are a valid and legally binding obligation of each
party thereto (other than HOVIC), the Opinion Documents constitute the valid and legally binding
obligation of HOVIC, enforceable against HOVIC in accordance with their terms.

          6. To the best of our knowledge, (i) there is no action, suit or proceeding before or by any
U.S. Virgin Islands court, arbitrator or governmental agency, body or official, now pending, to
which HOVIC is a party to or to which the business, assets or property of HOVIC is subject and
(ii) there is no such action, suit or proceeding threatened to which HOVIC or the business, assets
or property of HOVIC would be subject, that in the case of either (i) or (ii), (A) related to the
Opinion Documents or (B) could reasonably be expected to materially adversely affect the validity
of the Opinion Documents or the ability of HOVIC to perform its obligations thereunder.

          7. No consent, approval, authorization, order, filing, registration or qualification of or
with, any Federal or U.S. Virgin Islands governmental agency or body is required in connection
with the execution, delivery and performance by HOVIC of its borrowing and obligations under the
Opinion Documents.

          8. The submission by HOVIC in the Opinion Documents to the exclusive jurisdiction of the
Supreme Court of the State of New York and of the United States District Court of the Southern
District of New York and any appellate court from any decision thereof is legal, valid and binding
on HOVIC assuming that the same is true under the governing law of the Opinion Documents and under
the laws, rules and procedures applying in the courts of Supreme Court of the State of New York
and of the United States District Court of the Southern District of New York.

          9. In any action or proceeding in the Territory of the U.S. Virgin Islands arising out of or
relating to the Opinion Documents purporting to be governed (in whole or in part) by the laws of
the State of New York, the provisions of the Opinion Documents wherein the parties thereto agree
that such Opinion Documents shall be governed by, and be construed in accordance with, the laws of
the State of New York, would be recognized and given effect by the courts of the U.S. Virgin
Islands. This opinion is qualified in that the courts of the U.S. Virgin Islands, and the courts
of the United States of America sitting in the U.S. Virgin Islands and applying the principles
of conflicts of laws applied by the courts of the U.S. Virgin Islands, may apply laws other than
the internal laws of New York insofar as the rights or obligations under the Opinion Documents of
any party thereto may be affected by:

4

 

DUDLEY, TOPPER and FEUERZEIG, llp

	 	(i)	 	due organization or existence of each such party, the corporate or
equivalent power of such party to enter into, execute, deliver or perform
such documents, the due authorization of the entry into, execution, delivery
and performance of such document by all necessary corporate or equivalent
action on the part of such party, and similar matters governed by the laws of
the jurisdiction of such party’s organization;
	 
	 	(ii)	 	procedural laws and rules of the U.S. Virgin Islands, and
related matters (including, without limitation, statutes and rules with
respect to personal or subject matter jurisdiction, service of process,
necessary parties, prior exhaustion of remedies as against principals, rights
of subrogation, rights of guarantors, evidence, limitations of action, venue,
joinder of parties, matters of due process of law, and similar matters);
	 
	 	(iii)	 	internal laws of the U.S. Virgin Islands, judicial
decisions and general principles of equity affecting the availability of
remedies or of equitable relief, including, without limitation, specific
performance or equitable remedies;
	 
	 	(iv)	 	fraudulent transfer laws and fraudulent conveyance laws of
the U.S. Virgin Islands or of other jurisdictions;
	 
	 	(v)	 	federal laws of the United States of America; or
	 
	 	(vi)	 	internal laws and judicial decisions of the U.S. Virgin
Islands applicable to real property (or interests therein) located in the
U.S. Virgin Islands, including, without limitation, those affecting the
creation, perfection, priority and enforcement of liens and security
interests, title to real property, the creation, reservation, transfer and
termination of interests or estates in real property, and enforcement of
agreements relating to real property and the measure of damages for a breach
of any such agreement.

     In rendering the foregoing opinion with respect to the choice of New York law provisions
contained in the Opinion Documents, we have relied upon the following:

	 	(i)	 	that numerous and substantial communications directly
between the parties to the Opinion Documents took place or originated or were
received in New York;
	 
	 	(ii)	 	that substantial negotiations relating to the Opinion Documents took place in
New York or pursuant to interstate communications with parties located in New
York;

5

 

DUDLEY,
TOPPER and FEUERZEIG, llp

	 	(iii)	 	that the Opinion Documents were executed, delivered and accepted in
New York, and the closing of the transactions contemplated in the Opinion
Documents will take place in New York;
	 
	 	(iv)	 	that payments pursuant to the Opinion Documents will be
received in New York; and
	 
	 	(v)	 	that the Administrative Agent maintains a place of
business in New York.

          10. The U.S. Virgin Islands has adopted the Uniform Enforcement of Foreign Judgments Act at 5
Virgin Islands Code Section 551 et seq. (the “Foreign Judgments Act”) so that by filing
a copy of any foreign judgment, as defined in Section 552 and 553 of the Foreign Judgments Act, in
the Office of the Superior Court of the U.S. Virgin Islands, such judgment shall be treated in the
same manner as a judgment of the Superior Court of the U.S. Virgin Islands, subject to the
provisions and limitations set forth in the Foreign Judgments Act.

          11. It is not necessary under the laws of U.S. Virgin Islands that the Administrative Agent or
any of the Lenders and Issuing Banks be licensed, qualified or entitled to carry on business in
the U.S. Virgin Islands (a) by reason of the execution or performance of the Opinion Documents
or (b) in order to enable any of them to enforce their respective rights under the Opinion
Documents and none of them is or will be deemed to be resident, domiciled, carrying on business
or subject to taxation in the U.S. Virgin Islands by reason of the execution, performance or
enforcement of any other Opinion Documents.

          12. No stamp, documentary or similar tax will be levied by the Government of the U.S. Virgin
Islands for the execution, delivery and performance of the Credit Agreement, the Note or related
instruments.

          13. It is not necessary to ensure the legality, validity, enforceability or
admissibility in evidence of the Opinion Documents that any document be filed, recorded
or enrolled with any Governmental Authority of the U.S. Virgin Islands. With respect to
the enforceability of the Opinion Documents, we express no opinion with respect to the
efficacy, priority or perfection of any lien purportedly grounded in or based upon such
documents or any of them.

6

 

DUDLEY,
TOPPER and FEUERZEIC, llp

          This opinion speaks only as of the date hereof and we disclaim any obligation
to advise you of any change in this opinion after the date hereof. This opinion is given
solely for your benefit and the benefit of your counsel, and may not be relied upon by
any other person or entity, except for any assignee, successor or participant to the
Credit Agreement.

	 	 	 	 	 
	 	Very truly yours,

Dudley, Topper and Feuerzeig, LLC

 	 
	 	By:  	/s/ Thomas C. O’Keefe
 	 
	 	 	Thomas C. O’Keefe, Esq. 	 
	 	 	 	 
	 

7

 

 

EXHIBIT D

to Credit Agreement

[Letterhead of Issuing Bank]

FORM OF

NOTICE OF LC ACTIVITY

[insert date]

Hess Corporation

1185 Avenue of the Americas

New York, New York 10036

Facsimile: (212) 536-8617

Attention: Treasurer

JPMorgan Chase Bank, N.A.,

as the Administrative Agent

Loan & Agency Department

1111 Fannin

Houston, TX 77002

Facsimile: (713) 427-6307

Attention: Maria Nina G Guinchard

          Re:    HESS CORPORATION — NOTICE OF LC ACTIVITY

Ladies and Gentlemen:

          This Notice of LC Activity is delivered to you pursuant to Section 2.06(b) of the Five-Year
Credit Agreement dated as of April [14], 2011 (as amended, supplemented, amended and restated or
otherwise modified from time to time, the “Credit Agreement”), among Hess Corporation, a
Delaware corporation (the “Company”), the Borrowing Subsidiaries party thereto, the Lenders
party thereto and JPMorgan Chase Bank, N.A., as the Administrative Agent. Unless otherwise defined
herein, terms used herein have the meanings provided in the Credit Agreement.

          The undersigned Issuing Bank hereby gives you notice pursuant to Section 2.06(b) of the Credit
Agreement that [the Issuing Bank [issued] [amended] [renewed] [extended] a Letter of Credit
pursuant to a Notice of LC Request from [the Company][name of Borrowing Subsidiary]]1.
A copy of such Letter of Credit [(as so [amended] [renewed] [extended])] is attached hereto as
Exhibit A. The beneficiary of such Letter of Credit is __________. The stated amount of such
Letter of Credit is $_________. Such Letter of Credit was issued on __________ [and the
[amendment] [renewal] [extension] thereof became effective on _________________]. As of the date
hereof, $___________ of such Letter of Credit has been

 

			
	1	 	In the case of a Notice of LC Activity
delivered in connection with an expiry of, or a drawing under a Letter of
Credit, identify the applicable Letter of Credit and specify such expiration
date or the amount of such drawing.

 

2

drawn on. The expiration date of such
Letter of Credit is ___________ ___, _____. [Issuing Bank to add any other information with respect
to the amendment, renewal, extension or expiry of, or drawing under, such Letter of Credit as the
Administrative Agent may reasonably request.]

	 	 	 	 	 
	 	 	 
	 	
 	, 
	 	as Issuing Bank, 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Exhibit A

[See Attached Letter of Credit]

 

 

EXHIBIT E

to Credit Agreement

[Letterhead of Company/Borrowing Subsidiary]

FORM OF

NOTICE OF LC REQUEST

[insert date]

	 	 	 	 	 

	 	 	 
	as the Issuing Bank,	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	Facsimile:
	 	 	 	 
	 

	 	 	 	 
	Attention:
	 	 	 	 
	 

	 	 	 	 

JPMorgan Chase Bank, N.A.,

as the Administrative Agent

Loan & Agency Department

1111 Fannin

Houston, TX 77002

Facsimile: (713) 427-6307

Attention: Maria Nina G Guinchard

          Re:    HESS CORPORATION — NOTICE OF LC REQUEST

Ladies and Gentlemen:

          This Notice of LC Request is delivered to __________, as an issuing bank (the “Issuing
Bank”), pursuant to Section 2.06(b) of the Five-Year Credit Agreement dated as of April 14,
2011 (as amended, supplemented, amended and restated or otherwise modified from time to time, the
“Credit Agreement”), among HESS CORPORATION, a Delaware corporation (the
“Company”), the Borrowing Subsidiaries party thereto, the Lenders party thereto, and
JPMorgan Chase Bank, N.A., as the Administrative Agent. Unless otherwise defined herein,
capitalized terms used herein have the meanings provided in the Credit Agreement.

          1. [We request that a Letter of Credit (the “Letter of Credit”) be issued as provided
herein. The amount of the Letter of Credit is $_____________. After giving effect to the issuance
of the Letter of Credit, (i) the aggregate LC Exposure will not exceed the aggregate Commitments,
(ii) the portion of the LC Exposure attributable to Letters of Credit issued by the Issuing Bank
will not exceed the LC Commitment of the Issuing Bank (unless otherwise agreed by the Issuing Bank)
and (iii) the sum of the Total Exposures of all the Lenders will not exceed the sum of the
Commitments of all the Lenders.] [We request that the [identify Letter of Credit] (the “Letter
of Credit”) be [amended] [renewed] [extended] as provided herein. After giving effect to the
[amendment] [renewal] [extension] of the Letter of Credit, (i) the aggregate LC Exposure

 

2

will not
exceed the aggregate Commitments, (ii) the portion of the LC Exposure attributable to Letters of
Credit issued by the Issuing Bank will not exceed the LC Commitment of the Issuing Bank (unless
otherwise agreed by the Issuing Bank) and (iii) the sum of the Total Exposures of all the Lenders
will not exceed the sum of the Commitments of all the Lenders.]

          2. The proposed date of the requested [issuance] [amendment] [renewal] [extension] of the
Letter of Credit is __________ __, ____ (which is a Business Day).

          3. The expiration date of the Letter of Credit is____________ __, ______.8

          4. [Company/Borrowing Subsidiary to add any other information necessary to prepare, amend,
renew or extend the Letter of Credit (including amount of Letter of Credit, name and address of the
beneficiary thereof, drawing conditions, etc.).]

          The undersigned Financial Officer of the Company [and the Borrowing Subsidiary] certifies that
each of the conditions precedent to the proposed issuance set forth in Section[s] 4.02 [and
4.03]9 of the Credit Agreement has been satisfied.

          The Company [and [name of Borrowing Subsidiary]] has caused this Notice of LC Request to be
executed and delivered by a Financial Officer of the Company [and [name of Borrowing Subsidiary]]
this ___ day of __________, _____.

	 	 	 	 	 
	 	HESS CORPORATION

 	 
	 	by  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[NAME OF BORROWING SUBSIDIARY]

 	 
	 	by  	 	 
	 	 	Name:  	 	 
	 	 	Title: ]  	 	 
	 

 

			
	8	 	Insert date that is no less than 30 Business
Days prior to the Maturity Date. The Maturity Date and the Availability
Period, as such terms are used in the Credit Agreement in reference to any
Issuing Bank or any Letter of Credit issued by such Issuing Bank, may not be
extended with respect to any Issuing Bank without the prior written consent of
such Issuing Bank.
	 
	9	 	Insert in the case of any letters of credit issued for the account of a Borrowing Subsidiary.

 

 

EXHIBIT F-1

to Credit Agreement

[FORM OF]

     BORROWING SUBSIDIARY AGREEMENT dated as of [          ], among
HESS CORPORATION, a Delaware corporation (the “Company”), [Name of
Borrowing Subsidiary], a [               ] corporation (the “New
Borrowing Subsidiary”), and JPMorgan Chase Bank, N.A., as
Administrative Agent (in such capacity, the “Administrative
Agent”).

          Reference is made to the Five-Year Credit Agreement dated as of April [14], 2011 (as amended,
supplemented, amended and restated or otherwise modified from time to time, the “Credit
Agreement”), among the Company, the Borrowing Subsidiaries party thereto, the Lenders party
thereto and JPMorgan Chase Bank, N.A., as the Administrative Agent. Capitalized terms used but not
otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

          Under the Credit Agreement, the Lenders have agreed, upon the terms and subject to the
conditions therein set forth, to make Loans to, and issue Letters of Credit for the account of, the
Company and the Borrowing Subsidiaries. The Company and the New Borrowing Subsidiary desire that
the New Borrowing Subsidiary become a Borrowing Subsidiary under the Credit Agreement. The Company
and the New Borrowing Subsidiary represent that the New Borrowing Subsidiary is a Significant
Subsidiary incorporated or organized, as applicable, under the laws of [   ]. The Company
represents that the representations and warranties of the Company in the Credit Agreement are true
and correct in all material respects on and as of the date hereof after giving effect to this
Agreement. The Company agrees that the Guarantee of the Company contained in the Credit Agreement
will apply to the Guaranteed Obligations of the New Borrowing Subsidiary. Upon execution of this
Agreement by each of the Company, the New Borrowing Subsidiary and the Administrative Agent, the
New Borrowing Subsidiary shall be a party to the Credit Agreement and shall constitute a “Borrowing
Subsidiary” for all purposes thereof, and the New Borrowing Subsidiary hereby agrees to be bound by
all provisions of the Credit Agreement, and will be liable for the observance and performance of
all of the obligations of a Borrowing Subsidiary under the Credit Agreement (including as a
Borrower thereunder) to the same extent as if it had been one of the original parties to the Credit
Agreement, including, without limitation, Section 10.03 thereof.

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

 

2

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

	 	 	 	 	 
	 	HESS CORPORATION,

 	 
	 	by  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[NAME OF NEW BORROWING 

SUBSIDIARY],

 	 
	 	by  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as

Administrative Agent,

 	 
	 	by  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

EXHIBIT F-2

to Credit Agreement

[FORM OF]

BORROWING SUBSIDIARY TERMINATION

JPMorgan Chase Bank, N.A.,

as Administrative Agent

for the Lenders referred to below

Loan & Agency Department

1111 Fannin

Houston, TX 77002

Facsimile: (713) 427-6307

Attn: Maria Nina G Guinchard

[Date]

Ladies and Gentlemen:

          The undersigned, Hess Corporation, a Delaware corporation (the “Company”), refers to
the Five-Year Credit Agreement dated as of April [14], 2011 (as amended, supplemented, amended and
restated or otherwise modified from time to time, the “Credit Agreement”), among the
Company, Borrowing Subsidiaries party thereto, the Lenders and JPMorgan Chase Bank, N.A., as the
Administrative Agent. Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the Credit Agreement.

          The Company hereby terminates the status of [          ] (the “Terminated Borrowing
Subsidiary”) as a Borrowing Subsidiary under the Credit Agreement. The Company represents and
warrants that no Loans made to, or Letters of Credit issued for the account of, the Terminated
Borrowing Subsidiary are outstanding as of the date hereof and that all amounts payable by the
Terminated Borrowing Subsidiary in respect of interest and/or fees or in respect of Letters of
Credit (and, to the extent notified by the Administrative Agent or any Lender, any other amounts
payable under the Credit Agreement) pursuant to the Credit Agreement have been paid in full on or
prior to the date hereof. Notwithstanding the termination of the status of [          ] as a
Borrowing Subsidiary under the Credit Agreement, the Company agrees that nothing shall affect its
obligations under Article IX of the Credit Agreement with respect to any Guaranteed Obligations
incurred prior to the date hereof or any of its obligations that survive the repayment in full of
the Loans, the expiration or termination of the Commitments or the termination of the Credit
Agreement, as provided in Section 10.05 of the Credit Agreement.

	 	 	 	 	 
	 	Very truly yours,

HESS CORPORATION,

 	 
	 	by  	 	 
	 	 	Name:  	 	 
	 	 	Title:exv10w1

Exhibit 10.1

EXECUTION COPY

 

 

CREDIT AGREEMENT

dated as of

April 15, 2011

among

AMERICAN MEDICAL SYSTEMS, INC.

AMERICAN MEDICAL SYSTEMS HOLDINGS, INC.

The Lenders Party Hereto

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

PNC BANK, NATIONAL ASSOCIATION

as Syndication Agent

and

U.S. BANK NATIONAL ASSOCIATION 
as Documentation Agent

 

J.P. MORGAN SECURITIES LLC and PNC CAPITAL MARKETS LLC

as Joint Bookrunners and Joint Lead Arrangers

 

 

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I Definitions
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01. Defined Terms
	 	 	1	 
	SECTION 1.02. Classification of Loans and Borrowings
	 	 	20	 
	SECTION 1.03. Terms Generally
	 	 	20	 
	SECTION 1.04. Accounting Terms; GAAP
	 	 	21	 
	SECTION 1.05. Status of Obligations
	 	 	21	 
	 
	 	 	 	 
	ARTICLE II The Credits
	 	 	21	 
	 
	 	 	 	 
	SECTION 2.01. Commitments
	 	 	21	 
	SECTION 2.02. Loans and Borrowings
	 	 	22	 
	SECTION 2.03. Requests for Revolving Borrowings
	 	 	22	 
	SECTION 2.04. Intentionally Omitted
	 	 	23	 
	SECTION 2.05. Swingline Loans
	 	 	23	 
	SECTION 2.06. Letters of Credit
	 	 	24	 
	SECTION 2.07. Funding of Borrowings
	 	 	27	 
	SECTION 2.08. Interest Elections
	 	 	28	 
	SECTION 2.09. Termination and Reduction of Commitments
	 	 	29	 
	SECTION 2.10. Repayment of Loans; Evidence of Debt
	 	 	29	 
	SECTION 2.11. Prepayment of Loans
	 	 	30	 
	SECTION 2.12. Fees
	 	 	30	 
	SECTION 2.13. Interest
	 	 	31	 
	SECTION 2.14. Alternate Rate of Interest
	 	 	32	 
	SECTION 2.15. Increased Costs
	 	 	32	 
	SECTION 2.16. Break Funding Payments
	 	 	33	 
	SECTION 2.17. Taxes
	 	 	34	 
	SECTION 2.18. Payments Generally; Allocations of Proceeds; Pro Rata Treatment; Sharing of Set-offs
	 	 	36	 
	SECTION 2.19. Mitigation Obligations; Replacement of Lenders
	 	 	38	 
	SECTION 2.20. Expansion Option
	 	 	39	 
	SECTION 2.21. Defaulting Lenders
	 	 	40	 
	 
	 	 	 	 
	ARTICLE III Representations and Warranties
	 	 	42	 
	 
	 	 	 	 
	SECTION 3.01. Organization; Powers; Subsidiaries
	 	 	42	 
	SECTION 3.02. Authorization; Enforceability
	 	 	42	 
	SECTION 3.03. Governmental Approvals; No Conflicts
	 	 	42	 
	SECTION 3.04. Financial Condition; No Material Adverse Change
	 	 	42	 
	SECTION 3.05. Properties
	 	 	43	 
	SECTION 3.06. Litigation, Environmental and Labor Matters
	 	 	43	 
	SECTION 3.07. Compliance with Laws and Agreements
	 	 	43	 
	SECTION 3.08. Investment Company Status
	 	 	43	 
	SECTION 3.09. Taxes
	 	 	44	 
	SECTION 3.10. ERISA
	 	 	44	 
	SECTION 3.11. Disclosure
	 	 	44	 
	SECTION 3.12. Federal Reserve Regulations
	 	 	44	 

i

 

Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 3.13. Liens
	 	 	44	 
	SECTION 3.14. No Default
	 	 	44	 
	SECTION 3.15. Solvency
	 	 	44	 
	SECTION 3.16. Insurance
	 	 	45	 
	SECTION 3.17. Security Interest in Collateral
	 	 	45	 
	 
	 	 	 	 
	ARTICLE IV Conditions
	 	 	45	 
	 
	 	 	 	 
	SECTION 4.01. Effective Date
	 	 	45	 
	SECTION 4.02. Each Credit Event
	 	 	46	 
	 
	 	 	 	 
	ARTICLE V Affirmative Covenants
	 	 	47	 
	 
	 	 	 	 
	SECTION 5.01. Financial Statements and Other Information
	 	 	47	 
	SECTION 5.02. Notices of Material Events
	 	 	48	 
	SECTION 5.03. Existence; Conduct of Business
	 	 	48	 
	SECTION 5.04. Payment of Obligations
	 	 	49	 
	SECTION 5.05. Maintenance of Properties; Insurance
	 	 	49	 
	SECTION 5.06. Books and Records; Inspection Rights
	 	 	49	 
	SECTION 5.07. Compliance with Laws and Material Contractual Obligations
	 	 	49	 
	SECTION 5.08. Use of Proceeds
	 	 	50	 
	SECTION 5.09. Subsidiary Guarantors; Pledges; Additional Collateral; Further Assurances
	 	 	50	 
	 
	 	 	 	 
	ARTICLE VI Negative Covenants
	 	 	51	 
	 
	 	 	 	 
	SECTION 6.01. Indebtedness
	 	 	51	 
	SECTION 6.02. Liens
	 	 	52	 
	SECTION 6.03. Fundamental Changes and Asset Sales
	 	 	53	 
	SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions
	 	 	54	 
	SECTION 6.05. Swap Agreements
	 	 	54	 
	SECTION 6.06. Transactions with Affiliates
	 	 	54	 
	SECTION 6.07. Restricted Payments
	 	 	55	 
	SECTION 6.08. Restrictive Agreements
	 	 	55	 
	SECTION 6.09. Subordinated Indebtedness and Amendments to Subordinated Indebtedness
Documents
	 	 	55	 
	SECTION 6.10. Financial Covenants
	 	 	56	 
	 
	 	 	 	 
	ARTICLE VII Events of Default
	 	 	56	 
	 
	 	 	 	 
	ARTICLE VIII The Administrative Agent
	 	 	58	 
	 
	 	 	 	 
	ARTICLE IX Miscellaneous
	 	 	62	 
	 
	 	 	 	 
	SECTION 9.01. Notices
	 	 	62	 
	SECTION 9.02. Waivers; Amendments
	 	 	63	 
	SECTION 9.03. Expenses; Indemnity; Damage Waiver
	 	 	65	 
	SECTION 9.04. Successors and Assigns
	 	 	66	 

ii

 

Table of Contents 

(continued)

	 	 	 	 	 
	 	 	Page	 
	SECTION 9.05. Survival
	 	 	69	 
	SECTION 9.06. Counterparts; Integration; Effectiveness
	 	 	69	 
	SECTION 9.07. Severability
	 	 	69	 
	SECTION 9.08. Right of Setoff
	 	 	69	 
	SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process
	 	 	70	 
	SECTION 9.10. WAIVER OF JURY TRIAL
	 	 	70	 
	SECTION 9.11. Headings
	 	 	71	 
	SECTION 9.12. Confidentiality
	 	 	71	 
	SECTION 9.13. USA PATRIOT Act
	 	 	71	 
	SECTION 9.14. Appointment for Perfection
	 	 	71	 
	SECTION 9.15. Releases of Subsidiary Guarantors
	 	 	71	 
	 
	 	 	 	 
	ARTICLE X Loan Guaranty
	 	 	72	 
	 
	 	 	 	 
	SECTION 10.01. Guaranty
	 	 	72	 
	SECTION 10.02. Guaranty of Payment
	 	 	72	 
	SECTION 10.03. No Discharge or Diminishment of Loan Guaranty
	 	 	72	 
	SECTION 10.04. Defenses Waived
	 	 	73	 
	SECTION 10.05. Rights of Subrogation
	 	 	73	 
	SECTION 10.06. Reinstatement; Stay of Acceleration
	 	 	74	 
	SECTION 10.07. Information
	 	 	74	 
	SECTION 10.08. Maximum Liability
	 	 	74	 
	SECTION 10.09. Liability Cumulative
	 	 	74	 

SCHEDULES:

Schedule 2.01 — Commitments

Schedule 3.01 — Subsidiaries

Schedule 6.01 — Existing Indebtedness

Schedule 6.02 — Existing Liens

EXHIBITS:

Exhibit A — Form of Assignment and Assumption

Exhibit B-1 — Form of Opinion of Loan Parties’ Minnesota Counsel

Exhibit B-2 — Form of Opinion of Loan Parties’ New York Counsel

Exhibit B-3 — Form of Opinion of Loan Parties’ California Counsel

Exhibit C — Form of Increasing Lender Supplement

Exhibit D — Form of Augmenting Lender Supplement

Exhibit E — List of Closing Documents

Exhibit F-1 — Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Not Partnerships)

Exhibit F-2 — Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Partnerships)

Exhibit F-3 — Form of U.S. Tax Certificate (Non-U.S. Participants That Are Not Partnerships)

Exhibit F-4 — Form of U.S. Tax Certificate (Non-U.S. Participants That Are Partnerships)

iii

 

          CREDIT AGREEMENT (this “Agreement”) dated as of April 15, 2011 among AMERICAN MEDICAL
SYSTEMS, INC., AMERICAN MEDICAL SYSTEMS HOLDINGS, INC., the LENDERS from time to time party hereto,
JPMORGAN CHASE BANK, N.A., as Administrative Agent, PNC BANK, NATIONAL ASSOCIATION, as Syndication
Agent and U.S. BANK NATIONAL ASSOCIATION, as Documentation Agent.

          The parties hereto agree as follows:

ARTICLE I

Definitions

          SECTION 1.01. Defined Terms. As used in this Agreement, the following terms
have the meanings specified below:

          “ABR”, when used in reference to any Loan or Borrowing, refers to a Loan, or the Loans
comprising such Borrowing, bearing interest at a rate determined by reference to the Alternate Base
Rate.

          “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest
Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal
to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

          “Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as
administrative agent for the Lenders hereunder.

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

          “Affected Foreign Subsidiary” means any Foreign Subsidiary to the extent such Foreign
Subsidiary acting as a Subsidiary Guarantor would cause a Deemed Dividend Problem.

          “Affiliate” means, with respect to a specified Person, another Person that directly,
or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

          “Aggregate Commitment” means the aggregate of the Commitments of all of the Lenders,
as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the
Effective Date, the Aggregate Commitment is $250,000,000. 

          “Alternate 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 Effective Rate in effect on such day plus 1/2 of 1% and (c) the Adjusted LIBO Rate for a one
month Interest Period on such day (or if such day is not a Business Day, the immediately preceding
Business Day) plus 1%, provided that, for the avoidance of doubt, the Adjusted LIBO Rate
for any day shall be based on the rate appearing on Reuters Screen LIBOR01 Page (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 Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective
Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such
change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively.

 

 

          “Applicable Percentage” means, with respect to any Lender, the percentage of the
Aggregate Commitment represented by such Lender’s Commitment; provided that, in the case of
Section 2.21 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the
percentage of the Aggregate Commitment (disregarding any Defaulting Lender’s Commitment)
represented by such Lender’s Commitment. If the Commitments have terminated or expired, the
Applicable Percentages shall be determined based upon the Commitments most recently in effect,
giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of
determination.

          “Applicable Pledge Percentage” means 100% but 65% in the case of a pledge by the
Borrower or any Domestic Subsidiary of its Equity Interests in an Affected Foreign Subsidiary.

          “Applicable Rate” means, for any day, with respect to any Eurodollar Revolving Loan or
any ABR Revolving Loan or with respect to the commitment fees payable hereunder, as the case may
be, the applicable rate per annum set forth below under the caption “Eurodollar Spread”, “ABR
Spread” or “Commitment Fee Rate”, as the case may be, based upon the Leverage Ratio applicable on
such date:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Eurodollar	 	 	ABR	 	 	Commitment	 
	 	 	Leverage Ratio:	 	 	Spread	 	 	Spread	 	 	Fee Rate	 
	Category 1:
	 	< 1.50 to 1.00	 	 	1.50	%	 	 	0.50	%	 	 	0.25	%
	Category 2:
	 	≥ 1.50 to 1.00 but 
< 2.00 to 1.00	 	 	1.75	%	 	 	0.75	%	 	 	0.25	%
	Category 3:
	 	≥ 2.00 to 1.00 but 
< 2.50 to 1.00	 	 	2.00	%	 	 	1.00	%	 	 	0.275	%
	Category 4:
	 	≥ 2.50 to 1.00 but 
< 3.00 to 1.00	 	 	2.25	%	 	 	1.25	%	 	 	0.30	%
	Category 5:
	 	≥ 3.00 to 1.00	 	 	2.50	%	 	 	1.50	%	 	 	0.375	%

   For purposes of the foregoing,

   (i) if at any time the Borrower fails to deliver the Financials on or before the date the
Financials are due pursuant to Section 5.01, Category 5 shall be deemed applicable for the
period commencing three (3) Business Days after the required date of delivery and ending on
the date which is three (3) Business Days after the Financials are actually delivered, after
which the Category shall be determined in accordance with the table above as applicable;

   (ii) adjustments, if any, to the Category then in effect shall be effective three (3)
Business Days after the Administrative Agent has received the applicable Financials (it
being understood and agreed that each change in Category shall apply during the period
commencing on the effective date of such change and ending on the date immediately preceding
the effective date of the next such change); and 

   
(iii) notwithstanding the foregoing,
Category 2 shall be deemed to be applicable until the Administrative Agent’s receipt of the
applicable Financials for Holdings’ fiscal quarter ending July 2, 2011 and adjustments to
the Category then in effect shall thereafter be effected in accordance with the preceding
paragraphs.

          “Approved Fund” has the meaning assigned to such term in Section 9.04.

2

 

          “Assignment and Assumption” means an assignment and assumption agreement entered into
by a Lender and an assignee (with the consent of any party whose consent is required by Section
9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form
approved by the Administrative Agent.

          “Augmenting Lender” has the meaning assigned to such term in Section 2.20.

          “Available Revolving Commitment” means, at any time with respect to any Lender, the
Commitment of such Lender then in effect minus the Revolving Credit Exposure of such Lender at such
time; it being understood and agreed that any Lender’s Swingline Exposure shall not be deemed to be
a component of the Revolving Credit Exposure for purposes of calculating the commitment fee under
Section 2.12(a).

          “Availability Period” means the period from and including the Effective Date to but
excluding the earlier of the Maturity Date and the date of termination of the Commitments.

          “Banking Services” means each and any of the following bank services provided to the
Borrower or any Subsidiary by any Lender or any of its Affiliates: (a) credit cards for commercial
customers (including, without limitation, commercial credit cards and purchasing cards), (b) stored
value cards and (c) treasury management services (including, without limitation, controlled
disbursement, automated clearinghouse transactions, return items, overdrafts and interstate
depository network services).

          “Banking Services Agreement” means any agreement entered into by the Borrower or any
Subsidiary in connection with Banking Services.

          “Banking Services Obligations” means any and all obligations of the Borrower or any
Subsidiary, whether absolute or contingent and howsoever and whensoever created, arising, evidenced
or acquired (including all renewals, extensions and modifications thereof and substitutions
therefor) in connection with Banking Services.

          “Bankruptcy Event” means, with respect to any Person, such Person becomes the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee,
administrator, custodian, assignee for the benefit of creditors or similar Person charged with the
reorganization or liquidation of its business appointed for it, or, in the good faith determination
of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to,
approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy
Event shall not result solely by virtue of any ownership interest, or the acquisition of any
ownership interest, in such Person by a Governmental Authority or instrumentality thereof,
provided, further, that such ownership interest does not result in or provide such Person with
immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Person (or such Governmental
Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or
agreements made by such Person.

          “Board” means the Board of Governors of the Federal Reserve System of the United
States of America.

          “Borrower” means American Medical Systems, Inc., a Delaware corporation.

          “Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued
on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in
effect or (b) a Swingline Loan.

3

 

          “Borrowing Request” means a request by the Borrower for a Revolving Borrowing in
accordance with Section 2.03.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that, when used in connection with a Eurodollar Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in Dollars in the
London interbank market.

          “Capital Lease Obligations” of any Person means the obligations of such Person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

          “Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange
Act of 1934 and the rules of the SEC thereunder as in effect on the date hereof), of Equity
Interests representing more than 35% of the aggregate ordinary voting power represented by the
issued and outstanding Equity Interests of Holdings; (b) occupation of a majority of the seats
(other than vacant seats) on the board of directors of Holdings by Persons who were neither (i)
nominated by the board of directors of the Borrower nor (ii) appointed by directors so nominated;
(c) the acquisition of direct or indirect Control of the Borrower by any Person or group; (d)
Holdings ceases to own 100% of the Equity Interests in the Borrower; (e) the acquisition of
ownership, directly or indirectly, beneficially or of record, by Endo Pharmaceuticals Holdings Inc.
or any of its subsidiaries or Affiliates, of Equity Interests representing more than 35% of the
aggregate ordinary voting power represented by the issued and outstanding Equity Interests of
Holdings or (f) the consummation of the “Merger” as defined in the Agreement and Plan of Merger,
dated as of April 10, 2011, by and among Endo Pharmaceuticals Holdings Inc., NIKA Merger Sub, Inc.
and Holdings (as amended, restated, supplemented or modified from time to time).

          “Change in Law” means the occurrence, after the date of this Agreement (or with
respect to any Lender, if later, the date on which such Lender becomes a Lender), of any of the
following (a) the adoption of any law, rule, regulation or treaty, (b) any change in any law, rule,
regulation or treaty or in the interpretation or application thereof by any Governmental Authority
or (c) compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.15(b), by any
lending office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any)
with any request, guideline or directive (whether or not having the force of law) of any
Governmental Authority made or issued after the date of this Agreement; provided however,
that notwithstanding anything herein to the contrary, the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in
connection therewith shall be deemed to be a “Change in Law”, regardless of the date enacted,
adopted or issued.

          “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are Revolving Loans or Swingline Loans.

          “Code” means the Internal Revenue Code of 1986.

          “Collateral” means any and all property owned, leased or operated by a Person covered
by the Collateral Documents and any and all other property of any Loan Party, now existing or
hereafter acquired, that may at any time be or become subject to a security interest or Lien in
favor of Administrative Agent, on behalf of itself and the Secured Parties, to secure the Secured
Obligations; provided that Collateral shall exclude Excluded Property.

4

 

          “Collateral Documents” means, collectively, the Security Agreement, the Mortgages and
all other agreements, instruments and documents executed in connection with this Agreement that are
intended to create, perfect or evidence Liens to secure the Secured Obligations, including, without
limitation, all other security agreements, pledge agreements, mortgages, deeds of trust, loan
agreements, notes, guarantees, subordination agreements, pledges, powers of attorney, consents,
assignments, contracts, fee letters, notices, leases, financing statements and all other written
matter whether heretofore, now, or hereafter executed by Holdings or any of its Subsidiaries and
delivered to the Administrative Agent.

          “Commitment” means, with respect to each Lender, the commitment of such Lender to make
Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder,
expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit
Exposure hereunder, as such commitment may be (a) reduced or terminated from time to time pursuant
to Section 2.09, (b) increased from time to time pursuant to Section 2.20 and (c) reduced or
increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04.
The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the Assignment
and Assumption or other documentation contemplated hereby pursuant to which such Lender shall have
assumed its Commitment, as applicable.

          “Consolidated Adjusted Total Assets” means, as of the date of any determination
thereof, Consolidated Total Assets minus goodwill of Holdings and its Subsidiaries calculated in
accordance with GAAP on a consolidated basis as of such date.

          “Consolidated Capital Expenditures” means, without duplication, any expenditures for
any purchase or other acquisition of any asset which would be classified as a fixed or capital
asset on a consolidated balance sheet of Holdings and its Subsidiaries prepared in accordance with
GAAP.

          “Consolidated EBITDA” means Consolidated Net Income plus, to the extent deducted from
revenues in determining Consolidated Net Income, (i) Consolidated Interest Expense, (ii) expense
for income taxes paid or accrued, (iii) depreciation, (iv) amortization, (v) extraordinary or
non-recurring non-cash expenses or losses incurred other than in the ordinary course of business,
(vi) non-cash expenses related to stock based compensation, (vii) non-cash expenses related to
in-process research and development, (viii) losses arising from extinguishment of Indebtedness,
(ix) losses arising from discontinued operations, (x) losses arising from sales of assets, (xi)
non-cash losses arising from asset impairment, (xii) non-cash expenses relating to post closing
adjustments to market value not previously explicitly identified, (xiii) cash expenses or losses
incurred other than in the ordinary course of business in an aggregate amount not to exceed
$7,500,000 for any period of four consecutive fiscal quarters (each, a “Reference Period”)
and (xiv) cash expenses directly incurred in connection with any Permitted Acquisition (and
reasonably acceptable to the Administrative Agent) in an aggregate amount not to exceed $7,500,000
for any Reference Period minus, to the extent included in Consolidated Net Income, (1) interest
income, (2) income tax credits and refunds (to the extent not netted from tax expense), (3) any
cash payments made during such period in respect of items described in clauses (v), (vi), (vii),
(xi) or (xii) above subsequent to the fiscal quarter in which the relevant non-cash expenses or
losses were incurred, (4) income or gains arising from extinguishment of Indebtedness, (5) income
or gains arising from discontinued operations, (6) income or gains arising from sales of assets and
(7) extraordinary income or gains realized other than in the ordinary course of business, all
calculated for the Borrower and its Subsidiaries in accordance with GAAP on a consolidated basis.
For the purposes of calculating Consolidated EBITDA for any Reference Period, (i) if at any time
during such Reference Period Holdings or any Subsidiary shall have made any Material Disposition,
the Consolidated EBITDA for such Reference Period shall be reduced by an amount equal to the
Consolidated EBITDA (if positive) attributable to the property that is the subject of such Material
Disposition for such Reference Period or

5

 

increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such
Reference Period, and (ii) if during such Reference Period Holdings or any Subsidiary shall have
made a Material Acquisition, Consolidated EBITDA for such Reference Period shall be calculated
after giving effect thereto on a Pro Forma Basis as if such Material Acquisition occurred on the
first day of such Reference Period. As used in this definition, “Material Acquisition”
means any acquisition of property or series of related acquisitions of property that (a)
constitutes (i) assets comprising all or substantially all or any significant portion of a business
or operating unit of a business, or (ii) all or substantially all of the common stock or other
Equity Interests of a Person, and (b) involves the payment of consideration by Holdings and its
Subsidiaries in excess of $100,000,000; and “Material Disposition” means any sale, transfer
or disposition of property or series of related sales, transfers, or dispositions of property that
yields gross proceeds to Holdings or any of its Subsidiaries in excess of $100,000,000.

          “Consolidated Fixed Charges” means, with reference to any period, without duplication,
cash Consolidated Interest Expense, plus scheduled principal payments on Indebtedness made during
such period, plus expense for income taxes paid in cash, plus Consolidated Capital Expenditures,
all calculated for Holdings and its Subsidiaries on a consolidated basis in accordance with GAAP.

          “Consolidated Interest Expense” means, with reference to any period, the cash interest
expense (including without limitation interest expense under Capital Lease Obligations that is
treated as interest in accordance with GAAP) of Holdings and its Subsidiaries calculated on a
consolidated basis for such period with respect to all outstanding Indebtedness of Holdings and its
Subsidiaries allocable to such period in accordance with GAAP (including, without limitation, all
commissions, discounts and other fees and charges owed with respect to letters of credit and
bankers acceptance financing and net costs under interest rate Swap Agreements to the extent such
net costs are allocable to such period in accordance with GAAP). In the event that Holdings or any
Subsidiary shall have completed a Material Acquisition or a Material Disposition since the
beginning of the relevant period, Consolidated Interest Expense shall be determined for such period
on a Pro Forma Basis as if such acquisition or disposition, and any related incurrence or repayment
of Indebtedness, had occurred at the beginning of such period.

          “Consolidated Net Income” means, with reference to any period, the net income (or
loss) of Holdings and its Subsidiaries calculated in accordance with GAAP on a consolidated basis
(without duplication) for such period; provided that there shall be excluded any income (or loss)
of any Person other than Holdings or a Subsidiary, but any such income so excluded may be included
in such period or any later period to the extent of any cash dividends or distributions actually
paid in the relevant period to Holdings or any Subsidiary.

          “Consolidated Total Assets” means, as of the date of any determination thereof, total
assets of Holdings and its Subsidiaries calculated in accordance with GAAP on a consolidated basis
as of such date.

          
“Consolidated Total Indebtedness” means at any time the sum, without duplication, of (a) the
aggregate Indebtedness of Holdings and its Subsidiaries calculated on a consolidated basis as of
such time in accordance with GAAP, (b) the aggregate amount of Indebtedness of Holdings and its
Subsidiaries relating to the maximum drawing amount of all letters of credit outstanding and
bankers acceptances and (c) Indebtedness of the type referred to in clauses (a) or (b) hereof of
another Person guaranteed by Holdings or any of its Subsidiaries.

          “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings
correlative thereto.

6

 

          “Credit Event” means a Borrowing, the issuance of a Letter of Credit, an LC
Disbursement or any of the foregoing.

          “Credit Party” means the Administrative Agent, the Issuing Bank, the Swingline Lender
or any other Lender.

          “Deemed Dividend Problem” means, with respect to any Foreign Subsidiary, such Foreign
Subsidiary’s accumulated and undistributed earnings and profits being deemed to be repatriated to
the Borrower or the applicable parent Domestic Subsidiary under the Code and the effect of such
repatriation causing materially adverse tax consequences to the Borrower or such parent Domestic
Subsidiary, in each case as determined by the Borrower in its commercially reasonable judgment
acting in good faith and in consultation with its legal and tax advisors.

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

          “Defaulting Lender” means any Lender that (a) has failed, within two Business Days of
the date required to be funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion
of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any Credit Party
any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such
Lender notifies the Administrative Agent in writing that such failure is the result of such
Lender’s good faith determination that a condition precedent to funding (specifically identified
and including the particular default, if any) has not been satisfied, (b) has notified the Borrower
or any Credit Party in writing, or has made a public statement to the effect, that it does not
intend or expect to comply with any of its funding obligations under this Agreement (unless such
writing or public statement indicates that such position is based on such Lender’s good faith
determination that a condition precedent (specifically identified and including the particular
default, if any) to funding a loan under this Agreement cannot be satisfied) or generally under
other agreements in which it commits to extend credit, (c) has failed, within three Business Days
after request by a Credit Party, acting in good faith, to provide a certification in writing from
an authorized officer of such Lender that it will comply with its obligations (and is financially
able to meet such obligations) to fund prospective Loans and participations in then outstanding
Letters of Credit and Swingline Loans under this Agreement, provided that such Lender shall cease
to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such
certification in form and substance satisfactory to it and the Administrative Agent, or (d) has
become the subject of a Bankruptcy Event.

          “Documentation Agent” means U.S. Bank in its capacity as documentation agent for the
credit facility evidenced by this Agreement.

          “Dollars” or “$” refers to lawful money of the United States of
America.

          “Domestic Subsidiary” means a Subsidiary organized under the laws of a jurisdiction
located in the United States of America.

          “Effective Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 9.02).

          “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders,
decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into
by any Governmental Authority, relating in any way to the environment, preservation or reclamation
of natural

7

 

resources, the management, release or threatened release of any Hazardous Material or to health and
safety matters.

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

          “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any of the foregoing.

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

          “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with Holdings, is treated as a single employer under Section 414(b) or (c) of the Code or,
solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single
employer under Section 414 of the Code.

          “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived;
(c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by
Holdings or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to
the termination of any Plan; (e) the receipt by Holdings or any ERISA Affiliate from the PBGC or a
plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (f) the incurrence by Holdings or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal of Holdings or any
of its ERISA Affiliates from any Plan or Multiemployer Plan; or (g) the receipt by Holdings or any
ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from Holdings or any ERISA
Affiliate of any notice, concerning the imposition upon Holdings or any of its ERISA Affiliates of
Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be,
insolvent or in reorganization, within the meaning of Title IV of ERISA.

          “Eurodollar”, when used in reference to any Loan or Borrowing, means that such Loan,
or the Loans comprising such Borrowing, bears interest at a rate determined by reference to the
Adjusted LIBO Rate.

          “Event of Default” has the meaning assigned to such term in Article VII.

          “Excluded Property” means the collective reference to (i) all Intellectual Property of
Holdings and its Subsidiaries and (ii) all real property of Holdings and its Subsidiaries that is
not Material Real Property.

8

 

          “Excluded Taxes” means, with respect to any payment made by any Loan Party under any
Loan Document, any of the following Taxes imposed on or with respect to a Recipient:

          (a) income or franchise Taxes imposed on (or measured by) net income by the United States of
America, or by the jurisdiction under the laws of which such Recipient is organized or in which its
principal office is located or, in the case of any Lender, in which its applicable lending office
is located;

          (b) any branch profits Taxes imposed by the United States of America or any similar Taxes
imposed by any other jurisdiction in which the Borrower is located; and

          (c) in the case of a Non U.S. Lender (other than an assignee pursuant to a request by the
Borrower under Section 2.19(b)), any U.S. Federal withholding Taxes resulting from any law in
effect (including FATCA) on the date such Non U.S. Lender becomes a party to this Agreement (or
designates a new lending office) or is attributable to such Non U.S. Lender’s failure to comply
with Section 2.17(f), except to the extent that such Non U.S. Lender (or its assignor, if any) was
entitled, at the time of designation of a new lending office (or assignment), to receive additional
amounts from the Borrower with respect to such withholding Taxes pursuant to Section 2.17(a).

          “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this
Agreement, and any current or future regulations or official interpretations thereof.

          “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received
by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.

          “Financial Officer” means, for any Person, the chief financial officer, principal
accounting officer, treasurer or controller of such Person.

          “Financials” means the annual or quarterly financial statements, and accompanying
certificates and other documents, of Holdings and its Subsidiaries required to be delivered
pursuant to Section 5.01(a) or 5.01(b).

          “First Tier Foreign Subsidiary” means each Foreign Subsidiary with respect to which
any one or more of Holdings and its Domestic Subsidiaries directly owns or Controls more than 50%
of such Foreign Subsidiary’s issued and outstanding Equity Interests.

          “Foreign Subsidiary” means any Subsidiary which is not a Domestic
Subsidiary.

          “GAAP” means generally accepted accounting principles in the United States of America.

          “Governmental Authority” means the government of the United States of America, any
other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

9

 

          “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase
or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any
letter of credit or letter of guaranty issued to support such Indebtedness or obligation;
provided, that the term Guarantee shall not include endorsements for collection or deposit
in the ordinary course of business or any facility lease guarantees for the benefit of any
Subsidiary.

          “Guarantor” means (i) Holdings and (ii) each Subsidiary Guarantor.

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

          
“Holdings” means American Medical Systems Holdings, Inc., a Delaware corporation.

          
“Increasing Lender” has the meaning assigned to such term in Section 2.20.

          
“Incremental Term Loan”
has the meaning assigned to such term in Section 2.20. 

          
“Incremental Term Loan Amendment” has the
meaning assigned to such term in Section 2.20.

          “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of
such Person upon which interest charges are customarily paid, (d) all obligations of such Person
under conditional sale or other title retention agreements relating to property acquired by such
Person, (e) all obligations of such Person in respect of the deferred purchase price of property or
services, the payment of which is not contingent, (f) all Indebtedness of others secured by (or for
which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured
by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured
thereby has been assumed, (g) all Guarantees by such Person of Indebtedness of others (without
duplication), (h) all Capital Lease Obligations of such Person, (i) all obligations, contingent or
otherwise, of such Person as an account party in respect of letters of credit and letters of
guaranty, (j) all obligations, contingent or otherwise, of such Person in respect of bankers’
acceptances and (k) all obligations of such Person under Sale and Leaseback Transactions.
Indebtedness shall not include accounts payable incurred in the ordinary course of business and
accrued liabilities in the ordinary course of business, all determined in accordance with GAAP. The
Indebtedness of any Person shall include the Indebtedness of any other entity (including any
partnership in which such Person is a general partner) to the extent such Person is liable therefor
as a result of such Person’s ownership interest in or other relationship with such entity, except
to the extent the terms of such Indebtedness provide that such Person is not liable therefor.

10

 

          “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with
respect to any payment made by any Loan Party under any Loan Document and (b) Other Taxes.

          “Information Memorandum” means the Confidential Information Memorandum dated March
2011 relating to the Borrower and the Transactions.

          “Intellectual Property” means all copyrights, copyright applications, patents, patent
applications, trademarks, trademark applications, service marks, service mark applications, trade
names, trade secrets, know-how and intellectual property and proprietary rights and information and
all related grants, licenses, registrations, applications and agreements.

          “Interest Election Request” means a request by the Borrower to convert or continue a
Revolving Borrowing in accordance with Section 2.08.

          “Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline
Loan), the last day of each March, June, September and December and the Maturity Date, (b) with
respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of
which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of
more than three months’ duration, each day prior to the last day of such Interest Period that
occurs at intervals of three months’ duration after the first day of such Interest Period and the
Maturity Date and (c) with respect to any Swingline Loan, the day that such Loan is required to be
repaid and the Maturity Date.

          “Interest Period” means with respect to any Eurodollar Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six months thereafter, as the Borrower may elect;
provided, that (i) if any Interest Period would end on a day other than a Business Day,
such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a
Eurodollar Borrowing only, such next succeeding Business Day would fall in the next calendar month,
in which case such Interest Period shall end on the next preceding Business Day and (ii) any
Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day in the last
calendar month of such Interest Period) shall end on the last Business Day of the last calendar
month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the
date on which such Borrowing is made and, in the case of a Revolving Borrowing, thereafter shall be
the effective date of the most recent conversion or continuation of such Borrowing.

          “IRS” means the United States Internal Revenue Service.

          “Issuing Bank” means JPMorgan Chase Bank, N.A., in its capacity as the issuer of
Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i).
The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by
Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such
Affiliate with respect to Letters of Credit issued by such Affiliate.

          
“LC Collateral Account” has the meaning assigned to such term in Section 2.06(j). 

          
“LC
Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of Credit.

          “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements
that

11

 

have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any
Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time.

          “Lenders” means the Persons listed on Schedule 2.01 and any other Person that
shall have become a Lender hereunder pursuant to Section 2.20 or pursuant to an Assignment and
Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment
and Assumption. Unless the context otherwise requires, the term “Lenders” includes the Swingline
Lender.

          “Letter of Credit” means any letter of credit issued pursuant to
this
Agreement.

          “Leverage Ratio” has the meaning assigned to such term in Section 6.10(a).

          “LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period,
the rate appearing on Reuters Screen LIBOR01 Page (or on any successor or substitute page of such
service, or any successor to or substitute for such service, providing rate quotations comparable
to those currently provided on such page of such service, as determined by the Administrative Agent
from time to time for purposes of providing quotations of interest rates applicable to deposits in
Dollars in the London interbank market) at approximately 11:00 a.m., London time, two (2) Business
Days prior to the commencement of such Interest Period, as the rate for deposits in Dollars 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 “LIBO Rate” with respect to such Eurodollar Borrowing for such
Interest Period shall be the rate at which deposits in Dollars in an amount equal to $5,000,000 and
for a maturity comparable to such Interest Period are offered by the principal London office of the
Administrative Agent in immediately available funds in the London interbank market at approximately
11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period.

          “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of
the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call
or similar right of a third party with respect to such securities.

          “Liquidity” means, at any time the same is to be determined, the sum of (a)
unrestricted and unencumbered cash and Permitted Investments held in the United States by the
Borrower and the Guarantors, plus (b) the aggregate Available Revolving Commitments hereunder at
such time. 

          
“Loan Documents” means this Agreement, any promissory notes issued pursuant to Section
2.10(e) of this Agreement, any Letter of Credit applications, the Collateral Documents, the
Subsidiary Guaranty, and all other agreements, instruments, documents and certificates identified
in Section 4.01 executed and delivered to, or in favor of, the Administrative Agent or any Lenders
and including all other pledges, powers of attorney, consents, assignments, contracts, notices,
letter of credit agreements and all other written matter whether heretofore, now or hereafter
executed by or on behalf of any Loan Party, or any employee of any Loan Party, and delivered to the
Administrative Agent or any Lender in connection with this Agreement or the transactions
contemplated hereby. Any reference in this Agreement or any other Loan Document to a Loan Document
shall include all appendices, exhibits or schedules thereto, and all amendments, restatements,
supplements or other modifications thereto, and shall refer to this Agreement or such Loan Document
as the same may be in effect at any and all times such reference becomes operative.

          “Loan Guaranty” means Article X of this Agreement.

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          “Loan Parties” means, collectively, the Borrower and the Guarantors.

          “Loans” means the loans made by the Lenders to the Borrower pursuant to this
Agreement.

          “Material Adverse Effect” means a material adverse effect on (a) the business, assets,
operations or condition (financial or otherwise) of Holdings and the Subsidiaries taken as a whole
or (b) the validity or enforceability of this Agreement or any and all other Loan Documents or the
rights or remedies of the Administrative Agent and the Lenders thereunder.

          “Material Domestic Subsidiary” means each Domestic Subsidiary (i) which, as of the
most recent fiscal quarter of Holdings, for the period of four consecutive fiscal quarters then
ended, for which financial statements have been delivered pursuant to Section 5.01, contributed
greater than ten percent (10%) of Holdings’ consolidated revenues for such period or (ii) which
contributed greater than ten percent (10%) of Holdings’ Consolidated Total Assets as of such date;
provided that, if at any time the aggregate amount of the consolidated revenues or
consolidated total assets of all Domestic Subsidiaries that are not Material Domestic Subsidiaries
exceeds fifteen percent (15%) of Holdings’ consolidated revenues for any such period or fifteen
percent (15%) of Holdings’ Consolidated Total Assets as of the end of any such fiscal quarter, the
Borrower (or, in the event the Borrower has failed to do so within ten (10) days, the
Administrative Agent) shall designate sufficient Domestic Subsidiaries as “Material Domestic
Subsidiaries” to eliminate such excess, and such designated Subsidiaries shall for all purposes of
this Agreement constitute Material Domestic Subsidiaries.

          “Material Foreign Subsidiary” means each Foreign Subsidiary (i) which, as of the most
recent fiscal quarter of Holdings, for the period of four consecutive fiscal quarters then ended,
for which financial statements have been delivered pursuant to Section 5.01, contributed greater
than ten percent (10%) of Holdings’ consolidated revenues for such period or (ii) which contributed
greater than ten percent (10%) of Holdings’ Consolidated Total Assets as of such date;
provided that, if at any time the aggregate amount of the consolidated revenues or
consolidated total assets of all Foreign Subsidiaries that are not Material Foreign Subsidiaries
exceeds thirty (30%) of Holdings’ consolidated revenues for any such period or fifteen percent
(15%) of Holdings’ Consolidated Total Assets as of the end of any such fiscal quarter, the Borrower
(or, in the event the Borrower has failed to do so within ten (10) days, the Administrative Agent)
shall designate sufficient Foreign Subsidiaries as “Material Foreign Subsidiaries” to eliminate
such excess, and such designated Subsidiaries shall for all purposes of this Agreement constitute
Material Foreign Subsidiaries.

          “Material Indebtedness” means Indebtedness (other than the Loans and Letters of
Credit), or obligations in respect of one or more Swap Agreements, of any one or more of Holdings
and its Subsidiaries in an aggregate principal amount exceeding $40,000,000. For purposes of
determining Material Indebtedness, the “principal amount” of the obligations of Holdings or any
Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount
(giving effect to any netting agreements) that Holdings or such Subsidiary would be required to pay
if such Swap Agreement were terminated at such time.

          “Material Real Property” means any real property owned by Holdings or any of its
Subsidiaries with a book value that is equal to or greater than $20,000,000. 

          
“Material
Subsidiaries” means, collectively, Material Domestic Subsidiaries and Material Foreign
Subsidiaries.

          “Maturity Date” means April 15, 2016.

13

 

          “Maximum Liability” has the meaning assigned to such term in
Section 10.08.

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

          “Mortgage” means each mortgage, deed of trust or other agreement which conveys or
evidences a Lien in favor of the Administrative Agent, for the benefit of the Administrative Agent
and the Secured Parties, on real property of a Loan Party, including any amendment, restatement,
modification or supplement thereto.

          “Mortgage Instruments” means such title reports, ALTA title insurance policies (with
endorsements), evidence of zoning compliance, property insurance, flood certifications and flood
insurance, opinions of counsel, ALTA surveys, appraisals, flood certifications (and, if applicable
FEMA form acknowledgements of insurance), environmental assessments and reports, mortgage tax
affidavits and declarations and other similar information and related certifications as are
requested by, and in form and substance reasonably acceptable to, the Administrative Agent from
time to time.

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

          “Non-U.S. Lender” means a Lender that is not a U.S. Person.

          “Obligations” means all unpaid principal of and accrued and unpaid interest on the
Loans, all LC Exposure, all accrued and unpaid fees and all expenses, reimbursements, indemnities
and other obligations and indebtedness (including interest and fees accruing during the pendency of
any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed
or allowable in such proceeding), obligations and liabilities of any of Holdings and its
Subsidiaries to any of the Lenders, the Administrative Agent, the Issuing Bank or any indemnified
party, individually or collectively, existing on the Effective Date or arising thereafter, direct
or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or
unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, arising or
incurred under this Agreement or any of the other Loan Documents or in respect of any of the Loans
made or reimbursement or other obligations incurred or any of the Letters of Credit or other
instruments at any time evidencing any thereof.

          “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a
result of a present or former connection between such Recipient and the jurisdiction imposing such
Taxes (other than a connection arising from such Recipient having executed, delivered, enforced,
become a party to, performed its obligations under, received payments under, received or perfected
a security interest under, or engaged in any other transaction pursuant to, or enforced, any Loan
Document, or sold or assigned an interest in any Loan Document).

          “Other Taxes” means any present or future stamp, court, documentary, intangible,
recording, filing or similar excise or property Taxes that arise from any payment made under, from
the execution, delivery, performance, enforcement or registration of, or from the registration,
receipt or perfection of a security interest under, or otherwise with respect to, any Loan
Document, except any such Taxes that are Other Connection Taxes imposed with respect to an
assignment (other than an assignment under Section 2.19(b)).

          “Parent” means, with respect to any Lender, any Person as to which such Lender is,
directly or indirectly, a subsidiary.

          “Participant” has the meaning set forth in Section 9.04.

14

 

          “Participant Register” has the meaning set forth in Section 9.04(c).

          “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.

          “Permitted Acquisition” means any acquisition (whether by purchase, merger,
consolidation or otherwise) or series of related acquisitions by Holdings or any Subsidiary of (i)
all or substantially all the assets of or (ii) all or substantially all the Equity Interests in, a
Person or division or line of business of a Person, if, at the time of and immediately after giving
effect thereto, (a) no Default has occurred and is continuing or would arise after giving effect
thereto, (b) such Person or division or line of business is engaged in the same or a similar line
of business as Holdings and the Subsidiaries or business reasonably related thereto, (c) all
actions required to be taken with respect to such acquired or newly formed Subsidiary under Section
5.09 shall have been taken, (d) Holdings and the Subsidiaries are in compliance, on a pro forma
basis after giving effect to such acquisition (but without giving effect to any synergies or cost
savings), with the covenants contained in Section 6.10 recomputed as of the last day of the most
recently ended fiscal quarter of Holdings for which financial statements are available, as if such
acquisition (and any related incurrence or repayment of Indebtedness, with any new Indebtedness
being deemed to be amortized over the applicable testing period in accordance with its terms) had
occurred on the first day of each relevant period for testing such compliance and, if the aggregate
consideration paid in respect of such acquisition exceeds $100,000,000, the Borrower shall have
delivered to the Administrative Agent a certificate of a Financial Officer of Holdings to such
effect, together with all relevant financial information, statements and projections requested by
the Administrative Agent, (e) in the case of an acquisition or merger involving Holdings or a
Subsidiary, Holdings or such Subsidiary is the surviving entity of such merger and/or consolidation
and (f) the aggregate consideration paid in respect of such acquisition, when taken together with
the aggregate consideration paid in respect of all other acquisitions, does not exceed $100,000,000
during any fiscal year of Holdings; provided that clause (f) shall not apply so long as at
the time of and immediately after giving effect (including effect on a Pro Forma Basis) to such
acquisition, the Leverage Ratio is less than or equal to 3.25 to 1.00.

          “Permitted Encumbrances” means:

          (a) Liens imposed by law for Taxes that are not yet due or are being contested in compliance
with Section 5.04;

          (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens
imposed by law, arising in the ordinary course of business and securing obligations that are not
overdue by more than thirty (30) days or are being contested in compliance with Section 5.04;

          (c) pledges and deposits made in the ordinary course of business in compliance with workers’
compensation, unemployment insurance and other social security laws or regulations;

          (d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in
each case in the ordinary course of business;

          (e) judgment Liens in respect of judgments that do not constitute an Event of Default under
clause (k) of Article VII; and

          (f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property
imposed by law or arising in the ordinary course of business that do not secure any monetary

15

 

obligations and do not materially detract from the value of the affected property or
interfere with the ordinary conduct of business of Holdings or any Subsidiary;

provided that the term “Permitted Encumbrances” shall not include any Lien securing
Indebtedness.

          “Permitted Investments” means:

     (a) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America (or by any agency thereof to the
extent such obligations are backed by the full faith and credit of the United States of
America), in each case maturing within one year from the date of acquisition thereof;

     (b) investments in commercial paper maturing within 270 days from the date of
acquisition thereof and having, at such date of acquisition, the highest credit rating
obtainable from S&P or from Moody’s;

     (c) investments in certificates of deposit, banker’s acceptances and time deposits
maturing within 180 days from the date of acquisition thereof issued or guaranteed by or
placed with, and money market deposit accounts issued or offered by, any domestic office of
any commercial bank organized under the laws of the United States of America or any State
thereof which has a combined capital and surplus and undivided profits of not less than
$500,000,000;

     (d) fully collateralized repurchase agreements with a term of not more than thirty (30)
days for securities described in clause (a) above and entered into with a financial
institution satisfying the criteria described in clause (c) above;

     (e) money market funds that (i) comply with the criteria set forth in SEC Rule 2a-7
under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and
(iii) have portfolio assets of at least $5,000,000,000; and

     (f) any other investments permitted by the Borrower’s investment policy as approved by
its board of directors and as such policy is in effect, and as disclosed to the
Administrative Agent, prior to the Effective Date and as such policy may be amended,
restated, supplemented or otherwise modified from time to time with the consent of the
Administrative Agent (such consent shall not be unreasonably withheld and shall be deemed
provided unless and to the extent the Administrative Agent objects thereto within ten (10)
business days of having received notice of such amendment, restatement, supplement or other
modification).

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

          “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which Holdings or any ERISA Affiliate is (or, if such plan were terminated, would
under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

          “Pledge Subsidiary” means (i) each Domestic Subsidiary and (ii) each First Tier
Foreign Subsidiary which is a Material Foreign Subsidiary.

          “Prime Rate” means the rate of interest per annum publicly announced from time to time
by JPMorgan Chase Bank, N.A. as its prime rate in effect at its principal office in New York City;
each

16

 

change in the Prime Rate shall be effective from and including the date such change is publicly
announced as being effective.

          “Pro Forma Basis” means, with respect to any event, that Holdings is in compliance on
a pro forma basis with the applicable covenant, calculation or requirement herein
recomputed as if the event with respect to which compliance on a Pro Forma Basis is being tested
had occurred on the first day of the four fiscal quarter period most recently ended on or prior to
such date for which financial statements have been delivered pursuant to Section 5.01.

          “Recipient” means, as applicable, (a) the Administrative Agent, (b) any Lender and (c)
the Issuing Bank.

          “Register” has the meaning set forth in Section 9.04.

          “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, employees, agents and advisors of such Person
and such Person’s Affiliates.

          “Required Lenders” means, at any time, Lenders having Revolving Credit Exposures and
unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures
and unused Commitments at such time.

          “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests in Holdings or any Subsidiary,
or any payment (whether in cash, securities or other property), including any sinking fund or
similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any such Equity Interests in Holdings or any Subsidiary or any option, warrant or
other right to acquire any such Equity Interests in Holdings or any Subsidiary.

          “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline
Exposure at such time.

          “Revolving Loan” means a Loan made pursuant to Section 2.01.

          “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services
LLC business.

          “Sale and Leaseback Transaction” means any sale or other transfer of any property or
asset by any Person with the intent to lease such property or asset as lessee.

          “SEC” means the United States Securities and Exchange Commission.

          “Secured Obligations” means all Obligations, together with all Swap Obligations and
Banking Services Obligations owing to one or more Lenders or their respective Affiliates.

          “Secured Parties” means the holders of the Secured Obligations from time to time and
shall include (i) each Lender and the Issuing Bank in respect of its Loans and LC Exposure
respectively, (ii) the Administrative Agent, the Issuing Bank and the Lenders in respect of all
other present and future obligations and liabilities of Holdings and each Subsidiary of every type
and description arising under or in connection with this Agreement or any other Loan Document,
(iii) each Lender and affiliate of such

17

 

Lender in respect of Swap Agreements and Banking Services Agreements entered into with such Person
by Holdings or any Subsidiary, (iv) each indemnified party under Section 9.03 in respect of the
obligations and liabilities of the Borrower to such Person hereunder and under the other Loan
Documents, and (v) their respective successors and (in the case of a Lender, permitted) transferees
and assigns.

          “Security Agreement” means that certain Pledge and Security Agreement (including any
and all supplements thereto), dated as of the date hereof, between the Loan Parties and the
Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties,
and any other pledge or security agreement entered into, after the date of this Agreement by any
other Loan Party (as required by this Agreement or any other Loan Document), or any other Person,
as the same may be amended, restated or otherwise modified from time to time.

          “Solvent” means, in reference to the Borrower, (i) the fair value of the assets of the
Borrower, at a fair valuation, will exceed its debts and liabilities, subordinated, contingent or
otherwise; (ii) the present fair saleable value of the property of the Borrower will be greater
than the amount that will be required to pay the probable liability of its debts and other
liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become
absolute and matured; (iii) the Borrower will be able to pay its debts and liabilities,
subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured;
and (iv) the Borrower will not have unreasonably small capital with which to conduct the business
in which it is engaged as such business is now conducted and is proposed to be conducted after the
Effective Date.

          “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve percentages (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board to which the Administrative Agent is subject for
eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the
Board). Such reserve percentages shall include those imposed pursuant to such Regulation D of the
Board. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to
such reserve requirements without benefit of or credit for proration, exemptions or offsets that
may be available from time to time to any Lender under such Regulation D of the Board or any
comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the
effective date of any change in any reserve percentage.

          “Subordinated Convertible Notes” means Holdings’ 3.25% Convertible Senior Subordinated
Notes due 2036 and Holdings’ 4.00% Convertible Senior Subordinated Notes due 2041.

          “Subordinated Indebtedness” means any Indebtedness of Holdings or any Subsidiary the
payment of which is subordinated to payment of the obligations under the Loan Documents.

          “Subordinated Indebtedness Documents” means any document, agreement or instrument
evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated
Indebtedness, including, for the avoidance of doubt, the indenture and the related documents in
respect of the Subordinated Convertible Notes.

          “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other corporation, limited liability company, partnership, association or other entity
(a) of which securities or other ownership interests representing more than 50% of the equity or
more than 50% of the ordinary

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voting power or, in the case of a partnership, more than 50% of the general partnership interests
are, as of such date, owned, Controlled or held, or (b) that is, as of such date, otherwise
Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or
more subsidiaries of the parent.

          “Subsidiary” means any subsidiary of Holdings.

          “Subsidiary Guarantor” means each Material Domestic Subsidiary that is a party to the
Subsidiary Guaranty. The Subsidiary Guarantors on the Effective Date are identified as such in
Schedule 3.01 hereto.

          “Subsidiary Guaranty” means that certain Guaranty dated as of the Effective Date
(including any and all supplements thereto) and executed by each Subsidiary Guarantor party
thereto, as amended, restated, supplemented or otherwise modified from time to time.

          “Swap Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or
more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom stock or
similar plan providing for payments only on account of services provided by current or former
directors, officers, employees or consultants of Holdings or the Subsidiaries shall be a Swap
Agreement.

          “Swap Obligations” means any and all obligations of Holdings or any Subsidiary,
whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired
(including all renewals, extensions and modifications thereof and substitutions therefor), under
(a) any and all Swap Agreements permitted hereunder with a Lender or an Affiliate of a Lender, and
(b) any and all cancellations, buy backs, reversals, terminations or assignments of any such Swap
Agreement transaction.

          “Swingline Exposure” means, at any time, the aggregate principal amount of all
Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall be
its Applicable Percentage of the total Swingline Exposure at such time.

          “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender of
Swingline Loans hereunder.

          “Swingline Loan” means a Loan made pursuant to Section 2.05.

          “Syndication Agent” means PNC Bank, National Association in its capacity as
syndication agent for the credit facility evidenced by this Agreement.

          “Taxes” means any present or future taxes, levies, imposts, duties, deductions,
withholdings, assessments, fees or other charges imposed by any Governmental Authority, including
any interest, additions to tax or penalties applicable thereto.

          “Transactions” means the execution, delivery and performance by the Loan Parties of
this Agreement and the other Loan Documents, the borrowing of Loans and other credit extensions,
the use of the proceeds thereof and the issuance of Letters of Credit hereunder.

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          “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted LIBO Rate or the Alternate Base Rate.

          “UCC” means the Uniform Commercial Code as in effect from time to time in the State of
New York or any other state the laws of which are required to be applied in connection with the
issue of perfection of security interests.

          “Unliquidated Obligations” means, at any time, any Secured Obligations (or portion
thereof) that are contingent in nature or unliquidated at such time, including any Secured
Obligation that is: (i) an obligation to reimburse a bank for drawings not yet made under a letter
of credit issued by it; (ii) any other obligation (including any guarantee) that is contingent in
nature at such time; or (iii) an obligation to provide collateral to secure any of the foregoing
types of obligations.

          “U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30)
of the Code.

          “U.S. Tax Certificate” has the meaning assigned to such term in Section
2.17(f)(ii)(D)(2). 

         
“Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

          “Withholding Agent” means any Loan Party and the Administrative Agent.

          SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a
“Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”). Borrowings also may
be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a
“Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar Revolving Borrowing”).

          SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may 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”. The word
“law” shall be construed as referring to all statutes, rules, regulations, codes and other laws
(including official rulings and interpretations thereunder having the force of law or with which
affected Persons customarily comply), and all judgments, orders and decrees, of all Governmental
Authorities. 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, restated, supplemented or otherwise
modified (subject to any restrictions on such amendments, restatements, supplements or
modifications set forth herein), (b) any definition of or reference to any statute, rule or
regulation shall be construed as referring thereto as from time to time amended, supplemented or
otherwise modified (including by succession of comparable successor laws), (c) any reference herein
to any Person shall be construed to include such Person’s successors and assigns (subject to any
restrictions on assignment set forth herein) and, in the case of any Governmental Authority, any
other Governmental Authority that shall have succeeded to any or all functions thereof, (d) 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, (e) all references
herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and
Sections of, and Exhibits and

20

 

Schedules to, this Agreement and (f) the words “asset” and “property” shall be construed to have
the same meaning and effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights.

          SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in
effect from time to time; provided that, if the Borrower notifies the Administrative Agent
that the Borrower requests an amendment to any provision hereof to eliminate the effect of any
change occurring after the date hereof in GAAP or in the application thereof on the operation of
such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders
request an amendment to any provision hereof for such purpose), regardless of whether any such
notice is given before or after such change in GAAP or in the application thereof, then such
provision shall be interpreted on the basis of GAAP as in effect and applied immediately before
such change shall have become effective until such notice shall have been withdrawn or such
provision amended in accordance herewith. Notwithstanding any other provision contained herein, all
terms of an accounting or financial nature used herein shall be construed, and all computations of
amounts and ratios referred to herein shall be made (i) without giving effect to any election under
Accounting Standards Codification 825-10-25 (or any other Accounting Standards Codification or
Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other
liabilities of Holdings or any Subsidiary at “fair value”, as defined therein and (ii) without
giving effect to any treatment of Indebtedness in respect of convertible debt instruments under
Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or
Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in
a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be
valued at the full stated principal amount thereof.

          SECTION 1.05. Status of Obligations. In the event that the Borrower or any other Loan
Party shall at any time issue or have outstanding any Subordinated Indebtedness, the Borrower shall
take or cause such other Loan Party to take all such actions as shall be necessary to cause the
Secured Obligations to constitute senior indebtedness (however denominated) in respect of such
Subordinated Indebtedness and to enable the Administrative Agent and the Lenders to have and
exercise any payment blockage or other remedies available or potentially available to holders of
senior indebtedness under the terms of such Subordinated Indebtedness. Without limiting the
foregoing, the Obligations are hereby designated as “senior indebtedness” and as “designated senior
indebtedness” and words of similar import under and in respect of any indenture or other agreement
or instrument under which such Subordinated Indebtedness is outstanding and are further given all
such other designations as shall be required under the terms of any such Subordinated Indebtedness
in order that the Lenders may have and exercise any payment blockage or other remedies available or
potentially available to holders of senior indebtedness under the terms of such Subordinated
Indebtedness.

ARTICLE II

The Credits

          SECTION 2.01. Commitments. Subject to the terms and conditions set forth
herein, each Lender agrees to make Revolving Loans to the Borrower in Dollars from time to time
during the Availability Period in an aggregate principal amount that will not result in (a) such
Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment or (b) the sum of the total
Revolving Credit Exposures exceeding the Aggregate Commitment. Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow
Revolving Loans.

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          SECTION 2.02. Loans and Borrowings. (a) Each Revolving Loan (other than a Swingline
Loan) shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders
ratably in accordance with their respective Commitments. The failure of any Lender to make any Loan
required to be made by it shall not relieve any other Lender of its obligations hereunder; provided
that the Commitments of the Lenders are several and no Lender shall be responsible for any other
Lender’s failure to make Loans as required. Any Swingline Loan shall be made in accordance with the
procedures set forth in Section 2.05.

          (b) Subject to Section 2.14, each Revolving Borrowing shall be comprised entirely of ABR Loans
or Eurodollar Loans as the Borrower may request in accordance herewith. Each Swingline Loan shall
be an ABR Loan. Each Lender at its option may make any Eurodollar Loan by causing any domestic or
foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the
provisions of Sections 2.14, 2.15, 2.16 and 2.17 shall apply to such Affiliate to the same extent
as to such Lender); provided that any exercise of such option shall not affect the
obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

          (c) At the commencement of each Interest Period for any Eurodollar Revolving Borrowing, such
Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less
than $5,000,000. At the time that each ABR Revolving Borrowing is made, such Borrowing shall be in
an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000; provided
that an ABR Revolving Borrowing may be in an aggregate amount that is equal to the entire unused
balance of the Aggregate Commitment or that is required to finance the reimbursement of an LC
Disbursement as contemplated by Section 2.06(e). Each Swingline Loan shall be in an amount that is
an integral multiple of $250,000 and not less than $500,000. Borrowings of more than one Type and
Class may be outstanding at the same time; provided that there shall not at any time be more than a
total of ten (10) Eurodollar Revolving Borrowings outstanding.

          (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled
to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with
respect thereto would end after the Maturity Date.

          SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing,
the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of
a Eurodollar Borrowing, not later than 12:00 noon, New York City time, three (3) Business Days
before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than
12:00 noon, New York City time, one (1) Business Day before the date of the proposed Borrowing;
provided that any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC
Disbursement as contemplated by Section 2.06(e) may be given not later than 11:00 a.m., New York
City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be
irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative
Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by
the Borrower. Each such telephonic and written Borrowing Request shall specify the following
information in compliance with Section 2.02:

     (i) the aggregate amount of the requested Borrowing;

     (ii) the date of such Borrowing, which shall be a Business Day;

     (iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing;

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     (iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be
applicable thereto, which shall be a period contemplated by the definition of the term
“Interest Period”; and

     (v) the location and number of the Borrower’s account to which funds
are to be disbursed, which shall comply with the requirements of Section 2.07.

If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving
Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any
requested Eurodollar Revolving Borrowing, then the Borrower shall be deemed to have selected an
Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in
accordance with this Section, the Administrative Agent shall advise each Lender of the details
thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.

          SECTION 2.04. Intentionally Omitted.

          SECTION 2.05. Swingline Loans. (a) Subject to the terms and conditions set forth
herein, the Swingline Lender agrees to make Swingline Loans in Dollars to the Borrower from time to
time during the Availability Period, in an aggregate principal amount at any time outstanding that
will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding
$25,000,000 or (ii) the sum of the total Revolving Credit Exposures exceeding the Aggregate
Commitment; provided that the Swingline Lender shall not be required to make a Swingline Loan to
refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and
conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans.

          (b) To request a Swingline Loan, the Borrower shall notify the Administrative Agent of such
request by telephone (confirmed by telecopy), not later than 1:00 p.m., New York City time, on the
day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the
requested date (which shall be a Business Day) and amount of the requested Swingline Loan. The
Administrative Agent will promptly advise the Swingline Lender of any such notice received from the
Borrower. The Swingline Lender shall make each Swingline Loan available to the Borrower by means of
a credit to the general deposit account of the Borrower with the Swingline Lender (or, in the case
of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section
2.06(e), by remittance to the Issuing Bank) by 3:00 p.m., New York City time, on the requested date
of such Swingline Loan.

          (c) The Swingline Lender may by written notice given to the Administrative Agent not later than
10:00 a.m., New York City time, on any Business Day require the Lenders to acquire participations
on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall
specify the aggregate amount of Swingline Loans in which Lenders will participate. Promptly upon
receipt of such notice, the Administrative Agent will give notice thereof to each Lender,
specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each
Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to
pay to the Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable
Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its
obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including the occurrence
and continuance of a Default or reduction or termination of the Commitments, and that each such
payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each
Lender shall comply with its obligation under this paragraph by wire transfer of immediately
available funds, in the same manner as provided in Section 2.07 with respect to Loans made by such
Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Lenders),
and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by
it from the Lenders. The Administrative Agent shall notify

23

 

the Borrower of any participations in any Swingline Loan acquired pursuant to this paragraph, and
thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and
not to the Swingline Lender. Any amounts received by the Swingline Lender from the Borrower (or
other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by the
Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to
the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly
remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to
this paragraph and to the Swingline Lender, as their interests may appear; provided that any such
payment so remitted shall be repaid to the Swingline Lender or to the Administrative Agent, as
applicable, if and to the extent such payment is required to be refunded to the Borrower for any
reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not
relieve the Borrower of any default in the payment thereof.

          SECTION 2.06. Letters of Credit. (a) General. Subject to the terms and conditions set
forth herein, the Borrower may request the issuance of Letters of Credit denominated in Dollars for
its own account, in a form reasonably acceptable to the Administrative Agent and the Issuing Bank,
at any time and from time to time during the Availability Period. In the event of any inconsistency
between the terms and conditions of this Agreement and the terms and conditions of any form of
letter of credit application or other agreement submitted by the Borrower to, or entered into by
the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of
this Agreement shall control.

          (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the
issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of
Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if
arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the
Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal
or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of
Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal
or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire
(which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the
name and address of the beneficiary thereof and such other information as shall be necessary to
prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank, the
Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in
connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended,
renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of
Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such
issuance, amendment, renewal or extension (i) the amount of the LC Exposure shall not exceed
$25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the Aggregate
Commitment.

          (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of business
on the earlier of (i) the date one year after the date of the issuance of such Letter of Credit
(or, in the case of any renewal or extension thereof, one year after such renewal or extension) and
(ii) the date that is five (5) Business Days prior to the Maturity Date; provided that any Letter
of Credit may contain customary automatic renewal provisions agreed upon by the Borrower and the
Issuing Bank pursuant to which the expiration date of such Letter of Credit shall automatically be
extended for consecutive periods of up to twelve (12) months (but not to a date later than the date
that is one year after the Maturity Date); provided, further, that a Letter of Credit may expire up
to one year after the Maturity Date so long as the Borrower cash collateralizes 105% of the face
amount of such Letter of Credit no later than twenty (20) days prior to the Maturity Date.

          (d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of
Credit increasing the amount thereof) and without any further action on the part of the Issuing
Bank or the

24

 

Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from the
Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage
of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in
furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to
the Administrative Agent, for the account of the Issuing Bank, such Lender’s Applicable Percentage
of each LC Disbursement made by the Issuing Bank and not reimbursed by the Borrower on the date due
as provided in paragraph (e) of this Section, or of any reimbursement payment required to be
refunded to the Borrower for any reason. Each Lender acknowledges and agrees that its obligation
to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute
and unconditional and shall not be affected by any circumstance whatsoever, including any
amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a
Default or reduction or termination of the Commitments, and that each such payment shall be made
without any offset, abatement, withholding or reduction whatsoever.

          (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a
Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying to the Administrative
Agent in Dollars the amount equal to such LC Disbursement, calculated as of the date the Issuing
Bank made such LC Disbursement not later than 12:00 noon, New York City time, on the date that such
LC Disbursement is made, if the Borrower shall have received notice of such LC Disbursement prior
to 10:00 a.m., New York City time, on such date, or, if such notice has not been received by the
Borrower prior to such time on such date, then not later than 12:00 noon, New York City time, on
the Business Day immediately following the day that the Borrower receives such notice, if such
notice is not received prior to such time on the day of receipt; provided that, if such LC
Disbursement is not less than $1,000,000, the Borrower may, subject to the conditions to borrowing
set forth herein, request in accordance with Section 2.03 or 2.05 that such payment be financed
with an ABR Revolving Borrowing or Swingline Loan in an equivalent amount of such LC Disbursement
and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged
and replaced by the resulting ABR Revolving Borrowing or Swingline Loan. If the Borrower fails to
make such payment when due, the Administrative Agent shall notify each Lender of the applicable LC
Disbursement, the payment then due from the Borrower in respect thereof and such Lender’s
Applicable Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to
the Administrative Agent its Applicable Percentage of the payment then due from the Borrower, in
the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section
2.07 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and
the Administrative Agent shall promptly pay to the Issuing Bank the amounts so received by it from
the Lenders. Promptly following receipt by the Administrative Agent of any payment from the
Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the
Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to
reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may
appear. Any payment made by a Lender pursuant to this paragraph to reimburse the Issuing Bank for
any LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as
contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its
obligation to reimburse such LC Disbursement.

          (f) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as
provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and
shall be performed strictly in accordance with the terms of this Agreement under any and all
circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other
document presented under a Letter
of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein
being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of
Credit against presentation of a draft or other document that does not comply with the terms of
such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar
to any of the foregoing, that might, but for the

25

 

provisions of this Section, constitute a legal or equitable discharge of, or provide a right of
setoff against, the Borrower’s obligations hereunder. Neither the Administrative Agent, the
Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability or
responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit
or any payment or failure to make any payment thereunder (irrespective of any of the circumstances
referred to in the preceding sentence), or any error, omission, interruption, loss or delay in
transmission or delivery of any draft, notice or other communication under or relating to any
Letter of Credit (including any document required to make a drawing thereunder), any error in
interpretation of technical terms or any consequence arising from causes beyond the control of the
Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing Bank
from liability to the Borrower to the extent of any direct damages (as opposed to consequential
damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by
applicable law) suffered by the Borrower that are caused by the Issuing Bank’s failure to exercise
care when determining whether drafts and other documents presented under a Letter of Credit comply
with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence
or willful misconduct on the part of the Issuing Bank (as finally determined by a court of
competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such
determination. In furtherance of the foregoing and without limiting the generality thereof, the
parties agree that, with respect to documents presented which appear on their face to be in
substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole
discretion, either accept and make payment upon such documents without responsibility for further
investigation, regardless of any notice or information to the contrary, or refuse to accept and
make payment upon such documents if such documents are not in strict compliance with the terms of
such Letter of Credit.

          (g) Disbursement Procedures. The Issuing Bank shall, promptly following its receipt
thereof, examine all documents purporting to represent a demand for payment under a Letter of
Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Borrower by
telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made
or will make an LC Disbursement thereunder; provided that any failure to give or delay in
giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank
and the Lenders with respect to any such LC Disbursement.

          (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless
the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made,
the unpaid amount thereof shall bear interest, for each day from and including the date such LC
Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement,
at the rate per annum then applicable to ABR Revolving Loans; provided that, if the
Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this
Section, then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be
for the account of the Issuing Bank, except that interest accrued on and after the date of payment
by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for
the account of such Lender to the extent of such payment.

          (i) Replacement of Issuing Bank. The Issuing Bank may be replaced at any time by
written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the
successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement
of the Issuing Bank. At the time any such replacement shall become effective, the Borrower shall
pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section
2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank
shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to
Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank”
shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor
and all previous Issuing Banks, as the context shall

26

 

require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain
a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under
this Agreement with respect to Letters of Credit then outstanding and issued by it prior to such
replacement, but shall not be required to issue additional Letters of Credit.

          (j) Cash Collateralization. If any Event of Default shall occur and be continuing, on
the Business Day that the Borrower receives notice from the Administrative Agent or the Required
Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure
representing greater than 50% of the total LC Exposure) demanding the deposit of cash collateral
pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent,
in the name of the Administrative Agent and for the benefit of the Lenders (the “LC Collateral
Account”), an amount in cash equal to 105% of the amount of the LC Exposure as of such date
plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash
collateral shall become effective immediately, and such deposit shall become immediately due and
payable, without demand or other notice of any kind, upon the occurrence of any Event of Default
with respect to the Borrower described in clause (h) or (i) of Article VII. Such deposit shall be
held by the Administrative Agent as collateral for the payment and performance of the Secured
Obligations. The Administrative Agent shall have exclusive dominion and control, including the
exclusive right of withdrawal, over such account and the Borrower hereby grants the Administrative
Agent a security interest in the LC Collateral Account. Other than any interest earned on the
investment of such deposits, which investments shall be made at the option and sole discretion of
the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear
interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys
in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC
Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held
for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such
time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders
with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy
other Secured Obligations. If the Borrower is required to provide an amount of cash collateral
hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not
applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after all
Events of Default have been cured or waived.

          SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to be made
by it hereunder on the proposed date thereof by wire transfer of immediately available funds by
12:00 noon, New York City time, to the account of the Administrative Agent most recently designated
by it for such purpose by notice to the Lenders in an amount equal to such Lender’s Applicable
Percentage; provided that Swingline Loans shall be made as provided in Section 2.05. The
Administrative Agent will make such Loans available to the Borrower by promptly crediting the
amounts so received, in like funds, to an account of the Borrower maintained with the
Administrative Agent in New York City or Chicago and designated by the Borrower in the applicable
Borrowing Request; provided that ABR Revolving Loans made to finance the reimbursement of an LC
Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the
Issuing Bank.

          (b) Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing 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 on such date in accordance with paragraph (a) of this Section and may, in
reliance upon such assumption, make available to the Borrower a corresponding amount. In such
event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each
day from and including the date such amount is made available to the Borrower to but excluding
the date of payment to the Administrative

27

 

Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a
rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If
such Lender pays such amount to the Administrative Agent, then such amount shall constitute such
Lender’s Loan included in such Borrowing.

          SECTION 2.08. Interest Elections. (a) Each Revolving Borrowing initially shall be of
the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Revolving
Borrowing, shall have an initial Interest Period as specified in such Borrowing Request.
Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue
such Borrowing and, in the case of a Eurodollar Revolving Borrowing, may elect Interest Periods
therefor, all as provided in this Section. The Borrower may elect different options with respect
to different portions of the affected Borrowing, in which case each such portion shall be allocated
ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising
each such portion shall be considered a separate Borrowing. This Section shall not apply to
Swingline Borrowings, which may not be converted or continued.

          (b) To make an election pursuant to this Section, the Borrower shall notify the Administrative
Agent of such election by telephone by the time that a Borrowing Request would be required under
Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type resulting from such
election to be made on the effective date of such election. Each such telephonic Interest Election
Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the
Administrative Agent of a written Interest Election Request in a form approved by the
Administrative Agent and signed by the Borrower. Notwithstanding any contrary provision herein,
this Section shall not be construed to permit the Borrower to elect an Interest Period for
Eurodollar Loans that does not comply with Section 2.02(d).

          (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

     (i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions
thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the
information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each
resulting Borrowing);

     (ii) the effective date of the election made pursuant to such Interest
Election Request, which shall be a Business Day;

     (iii) whether the resulting Borrowing is to be an
ABR Borrowing or a Eurodollar Borrowing; and

     (iv) if the resulting Borrowing is a Eurodollar
Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which
Interest Period shall be a period contemplated by the definition of the term “Interest Period”.

If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an
Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one
month’s duration.

          (d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall
advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.

28

 

          (e) If the Borrower fails to deliver a timely Interest Election Request with respect to a
Eurodollar Revolving Borrowing prior to the end of the Interest Period applicable thereto, then,
unless such Borrowing is repaid as provided herein, at the end of such Interest Period such
Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if
an Event of Default has occurred and is continuing and the Administrative Agent, at the request of
the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing
(i) no outstanding Revolving Borrowing may be converted to or continued as a Eurodollar Borrowing
and (ii) unless repaid, each Eurodollar Revolving Borrowing shall be converted to an ABR Borrowing
at the end of the Interest Period applicable thereto.

          
SECTION 2.09. Termination and Reduction of Commitments. (a) Unless previously
terminated, the Commitments shall terminate on the Maturity Date.

          (b) The Borrower may at any time terminate, or from time to time reduce, the Commitments;
provided that (i) each reduction of the Commitments shall be in an amount that is an
integral multiple of $5,000,000 and not less than $5,000,000 and (ii) the Borrower shall not
terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the
Loans in accordance with Section 2.11, the sum of the Revolving Credit Exposures would exceed the
Aggregate Commitment.

          (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce
the Commitments under paragraph (b) of this Section at least three (3) Business Days prior to the
effective date of such termination or reduction, specifying such election and the effective date
thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the
Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section
shall be irrevocable; provided that a notice of termination of the Commitments delivered by
the Borrower may state that such notice is conditioned upon the effectiveness of other credit
facilities, in which case such notice may be revoked by the Borrower (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not
satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of
the Commitments shall be made ratably among the Lenders in accordance with their respective
Commitments.

          
SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby
unconditionally promises to pay (i) to the Administrative Agent for the account of each Lender the
then unpaid principal amount of each Revolving Loan on the Maturity Date and (ii) to the Swingline
Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Maturity Date
and the first date after such Swingline Loan is made that is the 15th or last day of a calendar
month and is at least two (2) Business Days after such Swingline Loan is made; provided
that on each date that a Revolving Borrowing is made, the Borrower shall repay all Swingline Loans
then outstanding.

          (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such
Lender, including the amounts of principal and interest payable and paid to such Lender from time
to time hereunder.

          (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount
of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto,
(ii) the amount of any principal or interest due and payable or to become due and payable from the
Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative
Agent hereunder for the account of the Lenders and each Lender’s share thereof.

29

 

          (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this
Section shall be prima facie evidence of the existence and amounts of the obligations recorded
therein; provided that the failure of any Lender or the Administrative Agent to maintain
such accounts or any error therein shall not in any manner affect the obligation of the Borrower to
repay the Loans in accordance with the terms of this Agreement.

          (e) Any Lender may request that Loans made by it be evidenced by a promissory note. In such
event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to
the order of such Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by
such promissory note and interest thereon shall at all times (including after assignment pursuant
to Section 9.04) be represented by one or more promissory notes in such form payable to the order
of the payee named therein (or, if such promissory note is a registered note, to such payee and its
registered assigns).

          SECTION 2.11. Prepayment of Loans. The Borrower shall have the right at any time and
from time to time to prepay any Borrowing in whole or in part, subject to prior notice in
accordance with the provisions of this Section 2.11. The Borrower shall notify the Administrative
Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone
(confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar
Revolving Borrowing, not later than 11:00 a.m., New York City time, three (3) Business Days before
the date of prepayment, (ii) in the case of prepayment of an ABR Revolving Borrowing, not later
than 11:00 a.m., New York City time, one (1) Business Day before the date of prepayment or (iii) in
the case of prepayment of a Swingline Loan, not later than 12:00 noon, New York City time, on the
date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and
the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if
a notice of prepayment is given in connection with a conditional notice of termination of the
Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such
notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any
such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the Lenders of
the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an amount
that would be permitted in the case of an advance of a Revolving Borrowing of the same Type as
provided in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied ratably
to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by (i) accrued
interest to the extent required by Section 2.13 and (ii) break funding payments pursuant to Section
2.16. If at any time the sum of the aggregate principal amount of all of the Revolving Credit
Exposures exceeds the Aggregate Commitment, the Borrower shall immediately repay Borrowings or cash
collateralize LC Exposure in an account with the Administrative Agent pursuant to Section 2.06(j),
as applicable, in an aggregate principal amount sufficient to cause the aggregate principal amount
of all Revolving Credit Exposures to be less than or equal to the Aggregate Commitment.

          SECTION 2.12. Fees. (a)The Borrower agrees to pay to the Administrative Agent for the
account of each Lender a commitment fee, which shall accrue at the Applicable Rate on the average
daily amount of the Available Revolving Commitment of such Lender during the period from and
including the Effective Date to but excluding the date on which such Lender’s Commitment
terminates; provided that, if such Lender continues to have any Revolving Credit Exposure
after its Commitment terminates, then such commitment fee shall continue to accrue on the average
daily amount of such Lender’s Revolving Credit Exposure from and including the date on which its
Commitment terminates to but excluding the date on which such Lender ceases to have any Revolving
Credit Exposure. Accrued commitment fees shall be payable in arrears on the last day of March,
June, September and December of each year and on the date on which the Commitments terminate,
commencing on the first such date to occur after the date hereof. All commitment fees shall be
computed on the basis of a year of 360 days and shall be payable for the actual number of days
elapsed (including the first day but excluding the last day).

30

 

          (b) The Borrower agrees to pay (i) to the Administrative Agent for the account of each
Lender a participation fee with respect to its participations in Letters of Credit, which shall
accrue at the same Applicable Rate used to determine the interest rate applicable to Eurodollar
Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion
thereof attributable to unreimbursed LC Disbursements) during the period from and including the
Effective Date to but excluding the later of the date on which such Lender’s Commitment terminates
and the date on which such Lender ceases to have any LC Exposure and (ii) to the Issuing Bank for
its own account a fronting fee, which shall accrue at the rate of 0.125% per annum on the average
daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC
Disbursements) attributable to Letters of Credit issued by the Issuing Bank during the period from
and including the Effective Date to but excluding the later of the date of termination of the
Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s
standard fees and commissions with respect to the issuance, amendment, cancellation, negotiation,
transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings
thereunder. Unless otherwise specified above, participation fees and fronting fees accrued through
and including the last day of March, June, September and December of each year shall be payable on
the third (3rd) Business Day following such last day, commencing on the first such date
to occur after the Effective Date; provided that all such fees shall be payable on the date on
which the Commitments terminate and any such fees accruing after the date on which the Commitments
terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this
paragraph shall be payable within ten (10) days after demand. All participation fees and fronting
fees shall be computed on the basis of a year of 360 days and shall be payable for the actual
number of days elapsed (including the first day but excluding the last day).

          (c) The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable
in the amounts and at the times separately agreed upon between the Borrower and the Administrative
Agent.

          (d) All fees payable hereunder shall be paid on the dates due, in immediately available funds,
to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for
distribution, in the case of commitment fees and participation fees, to the Lenders. Fees paid
shall not be refundable under any circumstances.

          SECTION 2.13. Interest. (a) The Loans comprising each ABR Borrowing (including each
Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate.

          (b) The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO
Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.

          (c) Notwithstanding the foregoing, during the occurrence and continuance of an Event of
Default, the Administrative Agent or the Required Lenders may, at their option, by notice to the
Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any
provision of Section 9.02 requiring the consent of “each Lender directly affected thereby” for
reductions in interest rates), declare that (i) all Loans shall bear interest at 2% plus the rate
otherwise applicable to such Loans as provided in the preceding paragraphs of this Section or (ii)
in the case of any other amount outstanding hereunder, such amount shall accrue at 2% plus the rate
applicable to such fee or other obligation as provided hereunder.

          (d) Accrued interest on each Revolving Loan shall be payable in arrears on each Interest
Payment Date for such Revolving Loan and upon termination of the Commitments; provided that (i)
interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the
event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan
prior to

31

 

the end of the Availability Period), accrued interest on the principal amount repaid or prepaid
shall be payable on the date of such repayment or prepayment and (iii) in the event of any
conversion of any Eurodollar Revolving Loan prior to the end of the current Interest Period
therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.

          (e) All interest hereunder shall be computed on the basis of a year of 360 days, except that
interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is
based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap
year), and in each case shall be payable for the actual number of days elapsed (including the first
day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO
Rate shall be determined by the Administrative Agent, and such determination shall be conclusive
absent manifest error.

          SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any Interest Period
for a Eurodollar Borrowing:

     (a) the Administrative Agent determines (which determination shall be conclusive absent
manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO
Rate or the LIBO Rate, as applicable, for such Interest Period; or

     (b) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or
the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the
cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in
such Borrowing for such Interest Period;

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by
telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent
notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer
exist, (i) any Interest Election Request that requests the conversion of any Revolving Borrowing
to, or continuation of any Revolving Borrowing as, a Eurodollar Borrowing shall be ineffective and
any such Eurodollar Borrowing shall be repaid on the last day of the then current Interest Period
applicable thereto and (ii) if any Borrowing Request requests a Eurodollar Revolving Borrowing,
such Borrowing shall be made as an ABR Borrowing.

     SECTION 2.15. Increased Costs. (a) If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance
charge or similar requirement against assets of, deposits with or for the account of, or credit
extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate)
or the Issuing Bank;

     (ii) impose on any Lender or the Issuing Bank or the London interbank market
any other condition, cost or expense affecting this Agreement or Eurodollar Loans made by such
Lender or any Letter of Credit or participation therein; or

     (iii) subject any Recipient to any
Taxes on its loans, loan principal, letters of credit, commitments, or other obligations, or its
deposits, reserves, other liabilities or capital attributable thereto (other than (A) Indemnified
Taxes, (B) Excluded Taxes and (C) Other Connection Taxes on gross or net income, profits or revenue
(including value-added or similar Taxes));

and the result of any of the foregoing shall be to
increase the cost to such Lender of making or maintaining any Loan or of maintaining its obligation
to make any such Loan or to increase the cost to

32

 

such Lender or the Issuing Bank of participating in, issuing or maintaining any Letter of Credit or
to reduce the amount of any sum received or receivable by such Lender or the Issuing Bank
hereunder, whether of principal, interest or otherwise, then the Borrower will pay to such Lender
or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such
Lender or the Issuing Bank, as the case may be, for such additional costs incurred or reduction
suffered.

          (b) If any Lender or the Issuing Bank determines that any Change in Law regarding capital
requirements has or would have the effect of reducing the rate of return on such Lender’s or the
Issuing Bank’s capital or on the capital of such Lender’s or the Issuing Bank’s holding company, if
any, as a consequence of this Agreement or the Loans made by, or participations in Letters of
Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below
that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company
could have achieved but for such Change in Law (taking into consideration such Lender’s or the
Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company
with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or
the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such
Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such
reduction suffered.

          (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts necessary
to compensate such Lender or the Issuing Bank or its holding company, as the case may be, as
specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be
conclusive absent manifest error. The Borrower shall pay such Lender or the Issuing Bank, as the
case may be, the amount shown as due on any such certificate within thirty (30) days after receipt
thereof.

          (d) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation
pursuant to this Section shall not constitute a waiver of such Lender’s or the Issuing Bank’s right
to demand such compensation; provided that the Borrower shall not be required to compensate a
Lender or the Issuing Bank pursuant to this Section for any increased costs or reductions incurred
more than 180 days prior to the date that such Lender or the Issuing Bank, as the case may be,
notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of
such Lender’s or the Issuing Bank’s intention to claim compensation therefor; provided further
that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then
the 180-day period referred to above shall be extended to include the period of retroactive effect
thereof.

          SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any principal of any
Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a
result of an Event of Default or as a result of any prepayment pursuant to Section 2.11), (b) the
conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable
thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date
specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked
under Section 2.11 and is revoked in accordance therewith) or (d) the assignment of any Eurodollar
Loan other than on the last day of the Interest Period applicable thereto as a result of a request
by the Borrower pursuant to Section 2.19, then, in any such event, the Borrower shall compensate
each Lender for the loss, cost and expense attributable to such event. Such loss, cost or expense
to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if
any, of (i) the amount of interest which would have accrued on the principal amount of such Loan
had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such
Loan, for the period from the date of such event to the last day of the then current Interest
Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that
would have been the Interest Period for such Loan), over (ii) the amount of interest which would
accrue on such principal amount for such period at the interest rate which such Lender would bid
were it to bid, at the commencement of such period, for deposits in Dollars of a comparable

33

 

amount and period from other banks in the eurodollar market. A certificate of any Lender setting
forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall
be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay
such Lender the amount shown as due on any such certificate within ten (10) days after receipt
thereof.

          SECTION 2.17. Taxes. (a) Withholding of Taxes; Gross-Up. Each payment by any Loan Party
under any Loan Document shall be made without withholding for any Taxes, unless such withholding is
required by any law. If any Withholding Agent determines, in its sole discretion exercised in good
faith, that it is so required to withhold Taxes, then such Withholding Agent may so withhold and
shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in
accordance with applicable law. If such Taxes are Indemnified Taxes, then the amount payable by
such Loan Party shall be increased as necessary so that, net of such withholding (including such
withholding applicable to additional amounts payable under this Section), the applicable Recipient
receives the amount it would have received had no such withholding been made.

          (b) Payment of Other Taxes by the Borrower. The Borrower shall timely pay any Other Taxes to
the relevant Governmental Authority in accordance with applicable law.

          (c) Evidence of Payments. As soon as practicable after any payment of Indemnified Taxes by
any Loan Party to a Governmental Authority, such Loan Party shall deliver to the Administrative
Agent the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of the return reporting such payment or other evidence of such
payment reasonably satisfactory to the Administrative Agent.

          (d) Indemnification by the Borrower. The Borrower shall indemnify each Recipient for any
Indemnified Taxes that are paid or payable by such Recipient in connection with any Loan Document
(including amounts paid or payable under this Section 2.17(d)) and any reasonable expenses arising
therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. The indemnity under this Section
2.17(d) shall be paid within thirty (30) days after the Recipient delivers to the Borrower a
certificate stating the amount of any Indemnified Taxes so paid or payable by such Recipient and
describing the basis for the indemnification claim. Such certificate shall be conclusive of the
amount so paid or payable absent manifest error. Such Recipient shall deliver a copy of such
certificate to the Administrative Agent.

          (e) Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative
Agent for any Taxes (but, in the case of any Indemnified Taxes, only to the extent that any Loan
Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without
limiting the obligation of the Loan Parties to do so) attributable to such Lender that are paid or
payable by the Administrative Agent or the applicable Loan Party (as applicable) in connection with
any Loan Document and any reasonable expenses arising therefrom or with respect thereto, whether or
not such Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. The indemnity under this Section 2.17(e) shall be paid within ten (10) days after the
Administrative Agent delivers to the applicable Lender a certificate stating the amount of Taxes so
paid or payable by the Administrative Agent. Such certificate shall be conclusive of the amount so
paid or payable absent manifest error.

          (f) Status of Lenders. (i) Any Lender that is entitled to an exemption from, or reduction of,
any applicable withholding Tax with respect to any payments under any Loan Document shall deliver
to the Borrower and the Administrative Agent, at the time or times reasonably requested by the
Borrower or the Administrative Agent, such properly completed and executed documentation reasonably
requested by the Borrower or the Administrative Agent as will permit such payments to be made
without, or at a

34

 

reduced rate of, withholding. In addition, any Lender, if requested by the Borrower or the
Administrative Agent, shall deliver such other documentation prescribed by law or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent to determine whether or not such Lender is subject to any withholding
(including backup withholding) or information reporting requirements. Notwithstanding anything to
the contrary in the preceding two sentences, the completion, execution and submission of such
documentation (other than such documentation set forth in Section 2.17(f)(ii)(A) through (E) below)
shall not be required if in the Lender’s judgment such completion, execution or submission would
subject such Lender to any material unreimbursed cost or expense or would materially prejudice the
legal or commercial position of such Lender. Upon the reasonable request of the Borrower or the
Administrative Agent, any Lender shall update any form or certification previously delivered
pursuant to this Section 2.17(f). If any form or certification previously delivered pursuant to
this Section expires or becomes obsolete or inaccurate in any respect with respect to a Lender,
such Lender shall promptly (and in any event within ten (10) days after such expiration,
obsolescence or inaccuracy) notify the Borrower and the Administrative Agent in writing of such
expiration, obsolescence or inaccuracy and update the form or certification if it is legally
eligible to do so.

     (ii) Without limiting the generality of the foregoing, if the Borrower is a U.S.
Person, any Lender with respect to the Borrower shall, if it is legally eligible to do so,
deliver to the Borrower and the Administrative Agent (in such number of copies reasonably
requested by the Borrower and the Administrative Agent) on or prior to the date on which
such Lender becomes a party hereto, duly completed and executed copies of whichever of the
following is applicable:

     (A) in the case of a Lender that is a U.S. Person, IRS Form W-9
certifying that such Lender is exempt from U.S. Federal backup withholding tax;

     (B) in the
case of a Non-U.S. Lender claiming the benefits of an income tax treaty to which the United
States is a party (1) with respect to payments of interest under any Loan Document, IRS Form
W-8BEN establishing an exemption from, or reduction of, U.S. Federal withholding Tax
pursuant to the “interest” article of such tax treaty and (2) with respect to any other
applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from,
or reduction of, U.S. Federal withholding Tax pursuant to the “business profits” or “other
income” article of such tax treaty;

     (C) in the case of a Non-U.S. Lender for whom payments
under any Loan Document constitute income that is effectively connected with such Lender’s
conduct of a trade or business in the United States, IRS Form W-8ECI;

     (D) in the case of a
Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under Section
881(c) of the Code both (1) IRS Form W-8BEN and (2) a certificate substantially in the form
of Exhibit F (a “U.S. Tax Certificate”) to the effect that such Lender is not (a) a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, (b) a “10 percent shareholder” of
the Borrower within the meaning of Section 881(c)(3)(B) of the Code, (c) a “controlled
foreign corporation” described in Section 881(c)(3)(C) of the Code and (d) conducting a
trade or business in the United States with which the relevant interest payments are
effectively connected;

     (E) in the case of a Non-U.S. Lender that is not the beneficial owner
of payments made under this Agreement (including a partnership or a participating Lender)
(1) an IRS
Form W-8IMY on behalf of itself and (2) the relevant forms prescribed in clauses
(A), (B), (C), (D) and (F) of this paragraph (f)(ii) that would be required of each
such beneficial owner or partner of such partnership if such beneficial owner or
partner were a

35

 

Lender; provided, however, that if the Lender is a partnership and one or more of
its partners are claiming the exemption for portfolio interest under Section 881(c)
of the Code, such Lender may provide a U.S. Tax Certificate on behalf of such
partners; or

     (F) any other form prescribed by law as a basis for claiming exemption
from, or a reduction of, U.S. Federal withholding Tax together with such
supplementary documentation necessary to enable the Borrower or the Administrative
Agent to determine the amount of Tax (if any) required by law to be withheld.

     (iii) If a payment made to a Lender under any Loan Document would be subject to U.S.
Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the
applicable reporting requirements of FATCA (including those contained in Section 1471(b) or
1472(b) of the Code, as applicable), such Lender shall deliver to the Withholding Agent, at
the time or times prescribed by law and at such time or times reasonably requested by the
Withholding Agent, such documentation prescribed by applicable law (including as prescribed
by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Withholding Agent as may be necessary for the Withholding Agent to comply
with its obligations under FATCA, to determine that such Lender has or has not complied with
such Lender’s obligations under FATCA and, as necessary, to determine the amount to deduct
and withhold from such payment. Solely for purposes of this Section 2.17(f)(iii), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement.

          (g) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in
good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant
to this Section 2.17 (including additional amounts paid pursuant to this Section 2.17), it shall
pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity
payments made under this Section with respect to the Taxes giving rise to such refund), net of all
out-of-pocket expenses (including any Taxes) of such indemnified party and without interest (other
than any interest paid by the relevant Governmental Authority with respect to such refund). Such
indemnifying party, upon the request of such indemnified party, shall repay to such indemnified
party the amount paid to such indemnified party pursuant to the previous sentence (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) in the event
such indemnified party is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this Section 2.17(g), in no event will any indemnified
party be required to pay any amount to any indemnifying party pursuant to this Section 2.17(g) if
such payment would place such indemnified party in a less favorable position (on a net after-Tax
basis) than such indemnified party would have been in if the indemnification payments or additional
amounts giving rise to such refund had never been paid. This Section 2.17(g) shall not be construed
to require any indemnified party to make available its Tax returns (or any other information
relating to its Taxes which it deems confidential) to the indemnifying party or any other Person.

          (h) Issuing Bank. For purposes of Section 2.17(e) and (f), the term “Lender” includes the
Issuing Bank.

          SECTION 2.18. Payments Generally; Allocations of Proceeds; Pro Rata Treatment; Sharing of
Set-offs.

          (a) The Borrower shall make each payment required to be made by it hereunder (whether of
principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section
2.15, 2.16 or 2.17, or otherwise) prior to 12:00 noon, New York City time on the date when due, in
immediately available funds, without set-off or counterclaim. Any amounts received after such time
on any date may, in the discretion of the Administrative Agent, be deemed to have been received on
the next

36

 

succeeding Business Day for purposes of calculating interest thereon. All such payments shall be
made to the Administrative Agent at its offices at 10 South Dearborn Street, 7th Floor,
Chicago, Illinois 60603, except payments to be made directly to the Issuing Bank or Swingline
Lender as expressly provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17
and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall
distribute any such payments received by it for the account of any other Person to the appropriate
recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that
is not a Business Day, the date for payment shall be extended to the next succeeding Business Day,
and, in the case of any payment accruing interest, interest thereon shall be payable for the period
of such extension. All payments hereunder shall be made in Dollars.

          (b) Any proceeds of Collateral received by the Administrative Agent (i) not constituting a
specific payment of principal, interest, fees or other sum payable under the Loan Documents (which
shall be applied as specified by the Borrower) or (ii) after an Event of Default has occurred and
is continuing and the Administrative Agent so elects or the Required Lenders so direct, such funds
shall be applied ratably first, to pay any fees, indemnities, or expense reimbursements including
amounts then due to the Administrative Agent and the Issuing Bank from the Borrower, second, to pay
any fees or expense reimbursements then due to the Lenders from the Borrower, third, to pay
interest then due and payable on the Loans ratably, fourth, to prepay principal on the Loans and
unreimbursed LC Disbursements and any other amounts owing with respect to Banking Services
Obligations and Swap Obligations ratably, fifth, to pay an amount to the Administrative Agent equal
to one hundred five percent (105%) of the aggregate undrawn face amount of all outstanding Letters
of Credit and the aggregate amount of any unpaid LC Disbursements, to be held as cash collateral
for such Obligations, and sixth, to the payment of any other Secured Obligation due to the
Administrative Agent or any Lender by the Borrower. Notwithstanding anything to the contrary
contained in this Agreement, unless so directed by the Borrower, or unless a Default is in
existence, none of the Administrative Agent or any Lender shall apply any payment which it receives
to any Eurodollar Loan of a Class, except (a) on the expiration date of the Interest Period
applicable to any such Eurodollar Loan or (b) in the event, and only to the extent, that there are
no outstanding ABR Loans of the same Class and, in any event, the Borrower shall pay the break
funding payment required in accordance with Section 2.16. The Administrative Agent and the Lenders
shall have the continuing and exclusive right to apply and reverse and reapply any and all such
proceeds and payments to any portion of the Secured Obligations.

          (c) At the election of the Administrative Agent, all payments of principal, interest, LC
Disbursements, fees, premiums, reimbursable expenses (including, without limitation, all
reimbursement for fees and expenses pursuant to Section 9.03), and other sums payable under the
Loan Documents, may be paid from the proceeds of Borrowings made hereunder whether made following a
request by the Borrower pursuant to Section 2.03 or a deemed request as provided in this Section or
may be deducted from any deposit account of the Borrower maintained with the Administrative Agent.
The Borrower hereby irrevocably authorizes (i) the Administrative Agent to make a Borrowing for the
purpose of paying each payment of principal, interest and fees as it becomes due hereunder or any
other amount due under the Loan Documents and agrees that all such amounts charged shall constitute
Loans (including Swingline Loans) and that all such Borrowings shall be deemed to have been
requested pursuant to Sections 2.03, 2.04 or 2.05, as applicable and (ii) the Administrative Agent
to charge any deposit account of the Borrower maintained with the Administrative Agent for each
payment of principal, interest and fees as it becomes due hereunder or any other amount due under
the Loan Documents.

          (d) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Revolving Loans or
participations in LC Disbursements or Swingline Loans resulting in such Lender receiving payment of
a greater proportion of the aggregate amount of its Revolving Loans and participations in LC
Disbursements and Swingline

37

 

Loans and accrued interest thereon than the proportion received by any other Lender, then the
Lender receiving such greater proportion shall purchase (for cash at face value) participations in
the Revolving Loans and participations in LC Disbursements and Swingline Loans of other Lenders to
the extent necessary so that the benefit of all such payments shall be shared by the Lenders
ratably in accordance with the aggregate amount of principal of and accrued interest on their
respective Revolving Loans and participations in LC Disbursements and Swingline Loans; provided
that (i) if any such participations are purchased and all or any portion of the payment giving rise
thereto is recovered, such participations shall be rescinded and the purchase price restored to the
extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be
construed to apply to any payment made by the Borrower pursuant to and in accordance with the
express terms of this Agreement or any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Loans or participations in LC Disbursements
and Swingline Loans to any assignee or participant, other than to the Borrower or any Subsidiary or
Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents
to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any
Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the
Borrower rights of set-off and counterclaim with respect to such participation as fully as if such
Lender were a direct creditor of the Borrower in the amount of such participation.

          (e) Unless the Administrative Agent shall have received notice from the Borrower prior to the
date on which any payment is due to the Administrative Agent for the account of the Lenders or the
Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may
assume that the Borrower has made such payment on such date in accordance herewith and may, in
reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be,
the amount due. In such event, if the Borrower has not in fact made such payment, then each of the
Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative
Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest
thereon, for each day from and including the date such amount is distributed to it to but excluding
the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate
and a rate determined by the Administrative Agent in accordance with banking industry rules on
interbank compensation.

          (f) If any Lender shall fail to make any payment required to be made by it pursuant to Section
2.05(c), 2.06(d) or (e), 2.07(b), 2.18(e) or 9.03(c), then the Administrative Agent may, in its
discretion (notwithstanding any contrary provision hereof), (i) apply any amounts thereafter
received by the Administrative Agent for the account of such Lender and for the benefit of the
Administrative Agent, the Swingline Lender or the Issuing Bank to satisfy such Lender’s obligations
to it under such Section until all such unsatisfied obligations are fully paid and/or (ii) hold any
such amounts in a segregated account as cash collateral for, and application to, any future funding
obligations of such Lender under any such Section; in the case of each of clauses (i) and (ii)
above, in any order as determined by the Administrative Agent in its discretion.

          SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender requests
compensation under Section 2.15, or the Borrower is required to pay any additional amount to any
Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then
such Lender shall use reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its
offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment
(i) would eliminate or reduce amounts payable pursuant to Section 2.15 or 2.17, as the case may be,
in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would
not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable
costs and expenses incurred by any Lender in connection with any such designation or assignment.

38

 

          (b) If (i) any Lender requests compensation under Section 2.15, (ii) the Borrower is required
to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.17 or (iii) any Lender becomes a Defaulting Lender, then the Borrower
may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent,
require such Lender to assign and delegate, without recourse (in accordance with and subject to the
restrictions contained in Section 9.04), all its interests, rights and obligations under the Loan
Documents to an assignee that shall assume such obligations (which assignee may be another Lender,
if a Lender accepts such assignment); provided that (i) the Borrower shall have received the prior
written consent of the Administrative Agent (and if a Commitment is being assigned, the Issuing
Bank), which consent shall not unreasonably be withheld, (ii) such Lender shall have received
payment of an amount equal to the outstanding principal of its Loans and participations in LC
Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts
payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued
interest and fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any
such assignment resulting from a claim for compensation under Section 2.15 or payments required to
be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation
or payments. A Lender shall not be required to make any such assignment and delegation if, prior
thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the
Borrower to require such assignment and delegation cease to apply.

          SECTION 2.20. Expansion Option. The Borrower may from time to time elect to increase the
Commitments or enter into one or more tranches of term loans (each an “Incremental Term Loan”), in
each case in minimum increments of $5,000,000 so long as, after giving effect thereto, the
aggregate amount of such increases and all such Incremental Term Loans does not exceed
$125,000,000. The Borrower may arrange for any such increase or tranche to be provided by one or
more Lenders (each Lender so agreeing to an increase in its Commitment, or to participate in such
Incremental Term Loans, an “Increasing Lender”), or by one or more new banks, financial
institutions or other entities (each such new bank, financial institution or other entity, an
“Augmenting Lender”), to increase their existing Commitments, or to participate in such Incremental
Term Loans, or extend Commitments, as the case may be; provided that (i) each Augmenting Lender,
shall be subject to the approval of the Borrower and the Administrative Agent, which approvals
shall not be unreasonably withheld and (ii) (x) in the case of an Increasing Lender, the Borrower
and such Increasing Lender execute an agreement substantially in the form of Exhibit C hereto, and
(y) in the case of an Augmenting Lender, the Borrower and such Augmenting Lender execute an
agreement substantially in the form of Exhibit D hereto. No consent of any Lender (other than the
Lenders participating in the increase or any Incremental Term Loan) shall be required for any
increase in Commitments or Incremental Term Loan pursuant to this Section 2.20. Increases and new
Commitments and Incremental Term Loans created pursuant to this Section 2.20 shall become effective
on the date agreed by the Borrower, the Administrative Agent and the relevant Increasing Lenders or
Augmenting Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding
the foregoing, no increase in the Commitments (or in the Commitment of any Lender) or tranche of
Incremental Term Loans shall become effective under this paragraph unless, (i) on the proposed date
of the effectiveness of such increase or Incremental Term Loans, (A) the conditions set forth in
paragraphs (a) and (b) of Section 4.02 shall be satisfied or waived by the Required Lenders and the
Administrative Agent shall have received a certificate to that effect dated such date and executed
by a Financial Officer of the Borrower and (B) Holdings shall be in compliance (on a Pro Forma
Basis reasonably acceptable to the Administrative Agent) with the covenants contained in Section
6.10 and (ii) the Administrative Agent shall have received documents consistent with those
delivered on the Effective Date as to the corporate power and authority of the Borrower to borrow
hereunder after giving effect to such increase. On the effective date of any increase in the
Commitments or any Incremental Term Loans being made, (i) each relevant Increasing Lender and
Augmenting Lender shall make available to the Administrative Agent such amounts in immediately
available funds as the Administrative Agent shall determine, for the benefit of the other Lenders,
as being required in order to cause, after giving effect to

39

 

such increase and the use of such amounts to make payments to such other Lenders, each Lender’s
portion of the outstanding Revolving Loans of all the Lenders to equal its Applicable Percentage of
such outstanding Revolving Loans, and (ii) except in the case of any Incremental Term Loans, the
Borrower shall be deemed to have repaid and reborrowed all outstanding Revolving Loans as of the
date of any increase in the Commitments (with such reborrowing to consist of the Types of Revolving
Loans, with related Interest Periods if applicable, specified in a notice delivered by the
Borrower, in accordance with the requirements of Section 2.03). The deemed payments made pursuant
to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued
interest on the amount prepaid and, in respect of each Eurodollar Loan, shall be subject to
indemnification by the Borrower pursuant to the provisions of Section 2.16 if the deemed payment
occurs other than on the last day of the related Interest Periods. The Incremental Term Loans (a)
shall rank pari passu in right of payment with the Revolving Loans, (b) shall not mature earlier
than the Maturity Date (but may have amortization prior to such date) and (c) shall be treated
substantially the same as (and in any event no more favorably than) the Revolving Loans; provided
that (i) the terms and conditions applicable to any tranche of Incremental Term Loans maturing
after the Maturity Date may provide for material additional or different financial or other
covenants or prepayment requirements applicable only during periods after the Maturity Date and
(ii) the Incremental Term Loans may be priced differently than the Revolving Loans. Incremental
Term Loans may be made hereunder pursuant to an amendment or restatement (an “Incremental Term Loan
Amendment”) of this Agreement and, as appropriate, the other Loan Documents, executed by the
Borrower, each Increasing Lender participating in such tranche, each Augmenting Lender
participating in such tranche, if any, and the Administrative Agent. The Incremental Term Loan
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 reasonable opinion of the
Administrative Agent, to effect the provisions of this Section 2.20. Nothing contained in this
Section 2.20 shall constitute, or otherwise be deemed to be, a commitment on the part of any Lender
to increase its Commitment hereunder, or provide Incremental Term Loans, at any time.

          SECTION 2.21. Defaulting Lenders. Notwithstanding any provision of this Agreement to the
contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for
so long as such Lender is a Defaulting Lender:

          (a) fees shall cease to accrue on the unfunded
portion of the Commitment of such Defaulting Lender pursuant to Section 2.12(a);

          (b) the Commitment
and Revolving Credit Exposure of such Defaulting Lender shall not be included in determining
whether the Required Lenders have taken or may take any action hereunder (including any consent to
any amendment, waiver or other modification pursuant to Section 9.02); provided, that this clause
(b) shall not apply to the vote of a Defaulting Lender in the case of an amendment, waiver or other
modification requiring the consent of such Lender or each Lender affected thereby;

          (c) if any
Swingline Exposure or LC Exposure exists at the time such Lender becomes a Defaulting Lender then:

     (i) all or any part of the Swingline Exposure and LC Exposure of such Defaulting Lender shall be
reallocated among the non-Defaulting Lenders in accordance with their respective Applicable
Percentages but only to the extent the sum of all non-Defaulting Lenders’ Revolving Credit
Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the
total of all non-Defaulting Lenders’ Commitments;

40

 

     (ii) if the reallocation described in clause (i) above cannot, or can only partially, be
effected, the Borrower shall within one (1) Business Day following notice by the Administrative
Agent (x) first, prepay such Swingline Exposure and (y) second, cash collateralize for the benefit
of the Issuing Bank only the Borrower’s obligations corresponding to such Defaulting Lender’s LC
Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in
accordance with the procedures set forth in Section 2.06(j) for so long as such LC Exposure is
outstanding;

     (iii) if the Borrower cash collateralizes any portion of such Defaulting Lender’s LC
Exposure pursuant to clause (ii) above, the Borrower shall not be required to pay any fees to such
Defaulting Lender pursuant to Section 2.12(b) with respect to such Defaulting Lender’s LC Exposure
during the period such Defaulting Lender’s LC Exposure is cash collateralized;

     (iv) if the LC
Exposure of the non-Defaulting Lenders is reallocated pursuant to clause (i) above, then the fees
payable to the Lenders pursuant to Sections 2.12(a) and Section 2.12(b) shall be adjusted in
accordance with such non-Defaulting Lenders’ Applicable Percentages; and

     (v) if all or any portion
of such Defaulting Lender’s LC Exposure is neither reallocated nor cash collateralized pursuant to
clause (i) or (ii) above, then, without prejudice to any rights or remedies of the Issuing Bank or
any other Lender hereunder, all letter of credit fees payable under Section 2.12(b) with respect to
such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until and to the extent
that such LC Exposure is reallocated and/or cash collateralized; and

          (d) so long as such Lender is
a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loan and the
Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless it is
satisfied that the related exposure and the Defaulting Lender’s then outstanding LC Exposure will
be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral will be
provided by the Borrower in accordance with Section 2.21(c), and participating interests in any
such newly made Swingline Loan or any newly issued or increased Letter of Credit shall be allocated
among non-Defaulting Lenders in a manner consistent with Section 2.21(c)(i) (and such Defaulting
Lender shall not participate therein).

     If (i) a Bankruptcy Event with respect to a Parent of any Lender shall occur following the
date hereof and for so long as such event shall continue or (ii) the Swingline Lender or the
Issuing Bank has a good faith belief that any Lender has defaulted in fulfilling its obligations
under one or more other agreements in which such Lender commits to extend credit, the Swingline
Lender shall not be required to fund any Swingline Loan and the Issuing Bank shall not be required
to issue, amend or increase any Letter of Credit, unless the Swingline Lender or the Issuing Bank,
as the case may be, shall have entered into arrangements with the Borrower or such Lender,
satisfactory to the Swingline Lender or the Issuing Bank, as the case may be, to defease any risk
to it in respect of such Lender hereunder.

     In the event that the Administrative Agent, the Borrower, the Swingline Lender and the Issuing
Bank each agrees that a Defaulting Lender has adequately remedied all matters that caused such
Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall
be readjusted to reflect the inclusion of such Lender’s Commitment and on such date such Lender
shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the
Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans
in accordance with its Applicable Percentage.

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ARTICLE III

Representations and Warranties

Each of Holdings and the Borrower represents and warrants to the Lenders that:

          SECTION 3.01. Organization; Powers; Subsidiaries. Each of Holdings and its Subsidiaries is
duly organized, validly existing and in good standing under the laws of the jurisdiction of its
organization, has all requisite power and authority to carry on its business as now conducted and,
except where the failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect, is qualified to do business in, and is in good
standing in, every jurisdiction where such qualification is required. Schedule 3.01 hereto (as
supplemented from time to time) identifies each Subsidiary (other than the Borrower), noting
whether such Subsidiary is a Material Domestic Subsidiary, the jurisdiction of its incorporation or
organization, as the case may be, the percentage of issued and outstanding shares of each class of
its capital stock or other equity interests owned by Holdings and the other Subsidiaries and, if
such percentage is not 100% (excluding directors’ qualifying shares as required by law), a
description of each class issued and outstanding. All of the outstanding shares of capital stock
and other equity interests of each Subsidiary are validly issued and outstanding and fully paid and
nonassessable and all such shares and other equity interests indicated on Schedule 3.01 as owned by
Holdings or another Subsidiary are owned, beneficially and of record, by Holdings or any Subsidiary
free and clear of all Liens, other than Liens created under the Loan Documents. There are no
outstanding commitments or other obligations of Holdings or any Subsidiary to issue, and no
options, warrants or other rights of any Person to acquire, any shares of any class of capital
stock or other equity interests of Holdings or any Subsidiary, except for compensatory stock
options.

          SECTION 3.02. Authorization; Enforceability. The Transactions are within each Loan Party’s
organizational powers and have been duly authorized by all necessary organizational actions and, if
required, actions by equity holders. The Loan Documents to which each Loan Party is a party have
been duly executed and delivered by such Loan Party and constitute a legal, valid and binding
obligation of such Loan Party, enforceable in accordance with its terms, subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether considered in a
proceeding in equity or at law.

          SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not require any
consent or approval of, registration or filing with, or any other action by, any Governmental
Authority, except such as have been obtained or made and are in full force and effect and except
for filings necessary to perfect Liens created pursuant to the Loan Documents, (b) will not violate
any applicable law or regulation or the charter, by-laws or other organizational documents of
Holdings or any of its Subsidiaries or any order of any Governmental Authority, (c) will not
violate or result in a default under any indenture, material agreement or other material instrument
binding upon Holdings or any of its Subsidiaries or its assets, or give rise to a right thereunder
to require any payment to be made by Holdings or any of its Subsidiaries, and (d) will not result
in the creation or imposition of any Lien on any asset of Holdings or any of its Subsidiaries,
other than Liens created under the Loan Documents.

          SECTION 3.04. Financial Condition; No Material Adverse Change. (a) Holdings has heretofore
furnished to the Lenders its consolidated balance sheet and statements of income, stockholders
equity and cash flows as of and for the fiscal year ended January 1, 2011 reported on by Ernst &
Young LLP, independent public accountants. Such financial statements present fairly, in all
material respects, the financial position and results of operations and cash flows of Holdings and
its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP.

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          (b) Since January 1, 2011, there has been no material adverse change in the business, assets,
operations or condition (financial or otherwise) of Holdings and its Subsidiaries, taken as a
whole.

          SECTION 3.05. Properties. (a) Each of Holdings and its Subsidiaries has good title to, or
valid leasehold interests in, all its real and personal property material to its business, except
for minor defects in title that do not interfere with its ability to conduct its business as
currently conducted or to utilize such properties for their intended purposes.

          (b) Each of Holdings and its Subsidiaries owns, or is licensed to use, all Intellectual
Property material to its business, and to Holdings’ and the Borrower’s best knowledge the use
thereof by Holdings and its Subsidiaries does not infringe upon the rights of any other Person,
except for any such infringements that, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect.

          SECTION 3.06. Litigation, Environmental and Labor Matters. (a) There are no actions, suits,
proceedings or investigations by or before any arbitrator or Governmental Authority pending against
or, to the knowledge of Holdings or the Borrower, threatened against or affecting Holdings or any
of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination
and that, if adversely determined, could reasonably be expected, individually or in the aggregate,
to result in a Material Adverse Effect or (ii) that involve this Agreement or the Transactions.

          (b) Except with respect to any other matters that, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect, neither Holdings nor any of its
Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply
with any permit, license or other approval required under any Environmental Law, (ii) has become
subject to any Environmental Liability, (iii) has received notice of any claim with respect to any
Environmental Liability or (iv) knows of any basis for any Environmental Liability.

          (c) There are no strikes, lockouts or slowdowns against Holdings or any of its Subsidiaries
pending or, to their knowledge, threatened. To Holdings’ and Borrower’s best knowledge, the hours
worked by and payments made to employees of Holdings and its Subsidiaries have not been in
violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign
law relating to such matters. To Holdings’ and Borrower’s best knowledge, all material payments due
from Holdings or any of its Subsidiaries, or for which any claim may be made against Holdings or
any of its Subsidiaries, on account of wages and employee health and welfare insurance and other
benefits, have been paid or accrued as liabilities on the books of Holdings or such Subsidiary. The
consummation of the Transactions will not give rise to any right of termination or right of
renegotiation on the part of any union under any collective bargaining agreement under which
Holdings or any of its Subsidiaries is bound.

          SECTION 3.07. Compliance with Laws and Agreements. Each of Holdings and its Subsidiaries is
in compliance with all laws, regulations and orders of any Governmental Authority applicable to it
or its property and all indentures, agreements and other instruments binding upon it or its
property, except where the failure to do so, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect.

          SECTION 3.08. Investment Company Status. Neither Holdings nor any of its Subsidiaries is an
“investment company” as defined in, or subject to regulation under, the Investment Company Act of
1940.

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          SECTION 3.09. Taxes. Each of Holdings and its Subsidiaries has timely filed or caused to be
filed all Tax returns and reports required to have been filed and has paid or caused to be paid all
Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by
appropriate proceedings and for which Holdings or such Subsidiary, as applicable, has set aside on
its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be
expected to result in a Material Adverse Effect.

          SECTION 3.10. ERISA. No ERISA Event has occurred or is reasonably expected to occur that,
when taken together with all other such ERISA Events for which liability is reasonably expected to
occur, could reasonably be expected to result in a Material Adverse Effect.

          SECTION 3.11. Disclosure. Each of Holdings and the Borrower has disclosed to the Lenders all
agreements, instruments and corporate or other restrictions to which Holdings or any of its
Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate,
could reasonably be expected to result in a Material Adverse Effect. Neither the Information
Memorandum nor any of the other reports, financial statements, certificates or other information
furnished by or on behalf of Holdings or any Subsidiary to the Administrative Agent or any Lender
in connection with the negotiation of this Agreement or delivered hereunder (as modified or
supplemented by other information so furnished) contains any material misstatement of fact or omits
to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided that, with respect to projected
financial information, each of Holdings and the Borrower represents only that such information was
prepared in good faith based upon assumptions believed to be reasonable at the time. For the
purpose of this Section, all information filed by Holdings with the SEC shall be deemed to have
been delivered and disclosed to the Lenders.

          SECTION 3.12. Federal Reserve Regulations.

           No part of the proceeds of any Loan have been used or will be used, whether directly or
indirectly, for any purpose that entails a violation of any of the Regulations of the Board,
including Regulations T, U and X.

          SECTION 3.13. Liens.

          There are no Liens on any of the real or personal properties of Holdings or any
Subsidiary except for Liens permitted by Section 6.02.

          SECTION 3.14. No Default. No Default or Event of Default has occurred and is continuing.

          SECTION 3.15. Solvency.

          (a) Immediately after the consummation of the Transactions to occur on the Effective Date,
Holdings and its Subsidiaries, taken as a whole, are and will be Solvent.

          (b) Holdings does not intend to, nor will it permit any of its Subsidiaries to, and Holdings
does not believe that it or any of its Subsidiaries will, incur debts beyond its ability to pay
such debts as they mature, taking into account the timing of and amounts of cash to be received by
it or any such Subsidiary and the timing of the amounts of cash to be payable on or in respect of
its Indebtedness or the Indebtedness of any such Subsidiary.

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          SECTION 3.16. Insurance. Holdings maintains, and has caused each Subsidiary to maintain, with
financially sound and reputable insurance companies, insurance on all their real and personal
property in such amounts, subject to such deductibles and self-insurance retentions and covering
such properties and risks as are adequate and customarily maintained by companies engaged in the
same or similar businesses operating in the same or similar locations.

          SECTION 3.17. Security Interest in Collateral. The provisions of this Agreement and the other
Loan Documents create legal and valid perfected Liens on all the Collateral in favor of the
Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected
and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the
applicable Loan Party and all third parties, and having priority over all other Liens on the
Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted
Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to
any applicable law and (b) Liens perfected only by possession (including possession of any
certificate of title) to the extent the Administrative Agent has not obtained or does not maintain
possession of such Collateral.

ARTICLE IV

Conditions

          SECTION 4.01. Effective Date. The obligations of the Lenders to make Loans and of the
Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on
which each of the following conditions is satisfied (or waived in accordance with Section 9.02):

     (a) The Administrative Agent (or its counsel) shall have received from (i) each party hereto either
(A) a counterpart of this Agreement signed on behalf of such party or (B) written evidence
satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of
a signed signature page of this Agreement) that such party has signed a counterpart of this
Agreement and (ii) duly executed copies of the Loan Documents and such other legal opinions,
certificates, documents, instruments and agreements as the Administrative Agent shall reasonably
request in connection with the Transactions, all in form and substance satisfactory to the
Administrative Agent and its counsel and as further described in the list of closing documents
attached as Exhibit E.

     (b) The Administrative Agent shall have received a favorable written opinion (addressed
to the Administrative Agent and the Lenders and dated the Effective Date) of Maslon Edelman
Borman & Brand, LLP, Carter Ledyard & Milburn LLP and Farella Braun & Martell LLP, counsels
for the Loan Parties, substantially in the forms of Exhibits B-1, B-2 and B-3, and covering
such other matters relating to the Loan Parties, the Loan Documents or the Transactions as
the Administrative Agent shall reasonably request. The Borrower hereby requests such
counsel to deliver such opinion.

     (c) The Lenders shall have received (i) reasonably satisfactory audited consolidated
financial statements of Holdings for the two most recent fiscal years ended prior to the
Effective Date as to which such financial statements are available, (ii) reasonably
satisfactory unaudited interim consolidated financial statements of Holdings for each
quarterly period ended subsequent to the date of the latest financial statements delivered
pursuant to clause (i) of this paragraph as to which such financial statements are publicly
available and (iii) reasonably satisfactory financial statement projections through and
including Holdings’ 2015 fiscal year, together with such

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information as the Administrative Agent and the Lenders shall reasonably request
(including, without limitation, a detailed description of the assumptions used in preparing
such projections).

     (d) The Administrative Agent shall have received such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization,
existence and good standing of the initial Loan Parties, the authorization of the
Transactions and any other legal matters relating to such Loan Parties, the Loan Documents
or the Transactions, all in form and substance satisfactory to the Administrative Agent and
its counsel and as further described in the list of closing documents attached as Exhibit E.

     (e) The Administrative Agent shall have received a certificate, dated the Effective
Date and signed by the President, a Vice President or a Financial Officer of Holdings and
the Borrower, confirming compliance with the conditions set forth in paragraphs (a) and (b)
of Section 4.02.

     (f) The Administrative Agent shall have received evidence reasonably satisfactory to it
that any credit facility currently in effect for Holdings shall have been terminated and
cancelled and all indebtedness thereunder shall have been fully repaid (except to the extent
being so repaid with the initial Revolving Loans) and any and all liens thereunder shall
have been terminated; provided that, for the avoidance of doubt, it is understood and agreed
that the Subordinated Convertible Notes shall remain outstanding.

     (g) The Administrative Agent shall have received evidence reasonably satisfactory to it
that all governmental and third party approvals reasonably necessary or advisable in
connection with the Transactions have been obtained and are in full force and effect.

     (h) The Administrative Agent shall have received all fees and other amounts due and
payable on or prior to the Effective Date, including, to the extent invoiced, reimbursement
or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower
hereunder.

The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such
notice shall be conclusive and binding.

          SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Borrowing, and of the Issuing Bank to issue, amend, renew or extend any Letter of
Credit, is subject to the satisfaction of the following conditions:

     (a)The representations and warranties of Holdings and the Borrower set forth in this Agreement
shall be true and correct in all material respects on and as of the date of such Borrowing or the
date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable.

     (b)At the time of and immediately after giving effect to such Borrowing or the
issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no
Default or Event of Default shall have occurred and be continuing.

Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be
deemed to constitute a representation and warranty by the Borrower on the date thereof as to the
matters specified in paragraphs (a) and (b) of this Section.

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ARTICLE V

Affirmative Covenants

          Until the Commitments have expired or been terminated and the principal of and interest
on each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit
shall have expired or terminated and all LC Disbursements shall have been reimbursed, each of
Holdings and the Borrower covenants and agrees with the Lenders that:

          SECTION 5.01. Financial Statements and Other Information. The Borrower will furnish to
the Administrative Agent and each Lender:

     (a) within ninety (90) days after the end of each fiscal year of Holdings (or, if earlier, by
the date that the Annual Report on Form 10-K of Holdings for such fiscal year is filed with the
SEC), its audited consolidated balance sheet and related statements of operations, stockholders’
equity and cash flows as of the end of and for such year, setting forth in each case in comparative
form the figures for the previous fiscal year, all reported on by Ernst & Young LLP or other
independent public accountants of recognized national standing (without a “going concern” or like
qualification or exception and without any qualification or exception as to the scope of such
audit) to the effect that such consolidated financial statements present fairly in all material
respects the financial condition and results of operations of Holdings and its consolidated
Subsidiaries on a consolidated basis in accordance with GAAP consistently applied;

     (b) within forty-five (45) days after the end of each of the first three fiscal quarters of
each fiscal year of Holdings (or, if earlier, by the date that the Quarterly Report on Form 10-Q of
Holdings for such fiscal quarter is filed with the SEC), its consolidated balance sheet and related
statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal
quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative
form the figures for the corresponding period or periods of (or, in the case of the balance sheet,
as of the end of) the previous fiscal year, all certified by one of its Financial Officers as
presenting fairly in all material respects the financial condition and results of operations of
Holdings and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP
consistently applied, subject to normal year-end audit adjustments and the absence of footnotes;

     (c) concurrently with any delivery of financial statements under clause (a) or (b) above, a
certificate of a Financial Officer of Holdings (i) certifying as to whether a Default has occurred
and, if a Default has occurred, specifying the details thereof and any action taken or proposed to
be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating
compliance with Section 6.10 and (iii) stating whether any change in GAAP or in the application
thereof has occurred since the date of the audited financial statements referred to in Section 3.04
and, if any such change has occurred, specifying the effect of such change on the financial
statements accompanying such certificate;

     (d) if, and only if, as of the last date of the applicable year for which financial statements
are delivered under clause (a), there are Loans outstanding under this Agreement in excess of
$20,000,000, concurrently with any delivery of financial statements under clause (a) above, a
certificate of the accounting firm that reported on such financial statements stating whether they
obtained knowledge during the course of their examination of such financial statements of any
Default (which certificate may be limited to the extent required by accounting rules or
guidelines);

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     (e) as soon as available, but in any event not more than sixty (60) days prior to the
end of each fiscal year of Holdings, a copy of the plan and forecast (including a projected
consolidated and consolidating balance sheet, income statement and funds flow statement) of
Holdings for each quarter of the upcoming fiscal year in form reasonably satisfactory to the
Administrative Agent;

     (f) promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials filed by Holdings or any Subsidiary with the
SEC, or any Governmental Authority succeeding to any or all of the functions of said
Commission, or with any national securities exchange, or distributed by Holdings to its
shareholders generally, as the case may be; and

     (g) promptly following any request therefor, such other information regarding the
operations, business affairs and financial condition of Holdings or any Subsidiary, or
compliance with the terms of this Agreement, as the Administrative Agent or any Lender may
reasonably request.

Documents required to be delivered pursuant to clauses (a), (b) and (f) of this Section 5.01
may be delivered electronically and if so delivered, shall be deemed to have been delivered
on the date on which such documents are filed for public availability on the SEC’s
Electronic Data Gathering and Retrieval System.

          SECTION 5.02. Notices of Material Events. The Borrower will furnish to the
Administrative Agent and each Lender prompt written notice of the following:

     (a) the occurrence of any Default;

     (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator
or Governmental Authority against or affecting Holdings or any Affiliate thereof that, if adversely
determined, could reasonably be expected to result in a Material Adverse Effect;

     (c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that
have occurred, could reasonably be expected to result in a Material Adverse Effect; and

     (d) any other development that results in, or could reasonably be expected to result in, a
Material Adverse Effect.

Each notice delivered under this Section shall be accompanied by a statement of a Financial
Officer or other executive officer of Holdings setting forth the details of the event or
development requiring such notice and any action taken or proposed to be taken with respect
thereto.

          SECTION 5.03. Existence; Conduct of Business. Holdings will, and will cause each of
its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in
full force and effect its legal existence and the rights, qualifications, licenses, permits,
privileges, franchises, governmental authorizations and intellectual property rights material to
the conduct of its business, and maintain all requisite authority to conduct its business in each
jurisdiction in which its business is conducted; provided that the foregoing shall not
prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03.

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          SECTION 5.04. Payment of Obligations. Holdings will, and will cause each of its
Subsidiaries to, pay its obligations, including Tax liabilities, that, if not paid, could result in
a Material Adverse Effect before the same shall become delinquent or in default, except where (a)
the validity or amount thereof is being contested in good faith by appropriate proceedings, (b)
Holdings or such Subsidiary has set aside on its books adequate reserves with respect thereto in
accordance with GAAP and (c) the failure to make payment pending such contest could not reasonably
be expected to result in a Material Adverse Effect.

          SECTION 5.05. Maintenance of Properties; Insurance. Holdings will, and will cause
each of its Subsidiaries to, (a) keep and maintain all property material to the conduct of its
business in good working order and condition, ordinary wear and tear excepted, and (b) maintain
with financially sound and reputable carriers (i) insurance in such amounts (with no greater risk
retention) and against such risks (including loss or damage by fire and loss in transit; theft,
burglary, pilferage, larceny, embezzlement, and other criminal activities; business interruption;
and general liability) and such other hazards, as is customarily maintained by companies of
established repute engaged in the same or similar businesses operating in the same or similar
locations and (ii) all insurance required pursuant to the Collateral Documents. The Borrower will
furnish to the Lenders, upon request of the Administrative Agent, information in reasonable detail
as to the insurance so maintained. The Borrower shall deliver to the Administrative Agent
endorsements (x) to all “All Risk” physical damage insurance policies on all of the Loan Parties’
tangible personal property and assets insurance policies naming the Administrative Agent as lender
loss payee, and (y) to all general liability and other liability policies naming the Administrative
Agent an additional insured. In the event Holdings or any of its Subsidiaries at any time or times
hereafter shall fail to obtain or maintain any of the policies or insurance required herein or to
pay any premium in whole or in part relating thereto, then the Administrative Agent, without
waiving or releasing any obligations or resulting Default hereunder, may at any time or times
thereafter (but shall be under no obligation to do so) upon prior notice to the Borrower obtain and
maintain such policies of insurance and pay such premiums and take any other action with respect
thereto which the Administrative Agent deems advisable. All sums so disbursed by the Administrative
Agent shall constitute part of the Obligations, payable as provided in this Agreement. The
Borrower will furnish to the Administrative Agent and the Lenders prompt written notice of any
casualty or other insured damage to any material portion of the Collateral or the commencement of
any action or proceeding for the taking of any material portion of the Collateral or interest
therein under power of eminent domain or by condemnation or similar proceeding.

          SECTION 5.06. Books and Records; Inspection Rights. Holdings will, and will cause each
of its Subsidiaries to, keep proper books of record and account in which full, true and correct
entries are made of all dealings and transactions in relation to its business and activities.
Holdings will, and will cause each of its Subsidiaries to, permit any representatives designated by
the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its
properties, to examine and make extracts from its books and records, including environmental
assessment reports and Phase I or Phase II studies, and to discuss its affairs, finances and
condition with its officers and independent accountants, all at such reasonable times and as often
as reasonably requested. Each of Holdings and the Borrower acknowledges that the Administrative
Agent, after exercising its rights of inspection, may prepare and distribute to the Lenders certain
reports pertaining to Holdings and its Subsidiaries’ assets for internal use by the Administrative
Agent and the Lenders.

          SECTION 5.07. Compliance with Laws and Material Contractual Obligations. Holdings
will, and will cause each of its Subsidiaries to, (i) comply with all laws, rules, regulations and
orders of any Governmental Authority applicable to it or its property (including without limitation
Environmental Laws) and (ii) perform in all material respects its obligations under material
agreements to which it is a

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party, in each case except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect.

          SECTION 5.08. Use of Proceeds. The proceeds of the Loans will be used only to finance
the working capital needs, and for general corporate purposes, of Holdings and its Subsidiaries,
including, without limitation, for any purpose not explicitly prohibited by this Agreement. No part
of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that
entails a violation of any of the Regulations of the Board, including Regulations T, U and X.

          SECTION 5.09. Subsidiary Guarantors; Pledges; Additional Collateral; Further
Assurances.

          (a) As promptly as possible but in any event within thirty (30) days (or such later date as
may be agreed upon by the Administrative Agent) after any Person becomes a Subsidiary or any
Subsidiary qualifies independently as, or is designated by the Borrower or the Administrative Agent
as, a Subsidiary Guarantor pursuant to the definition of “Material Domestic Subsidiary”, the
Borrower shall provide the Administrative Agent with written notice thereof setting forth
information in reasonable detail describing the material assets of such Person and shall cause each
such Subsidiary which also qualifies as a Material Domestic Subsidiary to deliver to the
Administrative Agent a joinder to the Subsidiary Guaranty and the Security Agreement (in each case
in the form contemplated thereby) pursuant to which such Subsidiary agrees to be bound by the terms
and provisions thereof, such Subsidiary Guaranty and the Security Agreement to be accompanied by
appropriate corporate resolutions, other corporate documentation and legal opinions to the extent
requested by, and in form and substance reasonably satisfactory to, the Administrative Agent and
its counsel.

          (b) Holdings and the Borrower will cause, and will cause each other Loan Party to cause, all
of its owned property (whether real, personal, tangible, intangible, or mixed but excluding
Excluded Property) to be subject at all times to first priority, perfected Liens in favor of the
Administrative Agent for the benefit of the Secured Parties to secure the Secured Obligations in
accordance with the terms and conditions of the Collateral Documents, subject in any case to Liens
permitted by Section 6.02. Without limiting the generality of the foregoing, the Borrower (i) will
cause the Applicable Pledge Percentage of the issued and outstanding Equity Interests of each
Pledge Subsidiary directly owned by the Borrower or any other Loan Party to be subject at all times
to a first priority, perfected Lien in favor of the Administrative Agent to secure the Secured
Obligations in accordance with the terms and conditions of the Collateral Documents or such other
pledge and security documents as the Administrative Agent shall reasonably request and (ii) will,
and will cause each Guarantor to, deliver Mortgages and Mortgage Instruments with respect to
Material Real Property owned by the Borrower or such Guarantor to the extent, and within such time
period as is, reasonably required by the Administrative Agent. Notwithstanding the foregoing, no
such pledge agreement in respect of the Equity Interests of a Foreign Subsidiary shall be required
hereunder (A) until the date that is sixty (60) days after the Effective Date or such later date as
the Administrative Agent may agree in the exercise of its reasonable discretion with respect
thereto, and (B) to the extent the Administrative Agent or its counsel determines that such pledge
would not provide material credit support for the benefit of the Secured Parties pursuant to
legally valid, binding and enforceable pledge agreements.

          (c) Without limiting the foregoing, the Borrower will, and will cause each Guarantor to,
execute and deliver, or cause to be executed and delivered, to the Administrative Agent such
documents, agreements and instruments, and will take or cause to be taken such further actions
(including the filing and recording of financing statements, fixture filings, Mortgages, deeds of
trust and other documents and such other actions or deliveries of the type required by Section
4.01, as applicable), which may be required by law or which the Administrative Agent may, from time
to time, reasonably request to carry

50

 

out the terms and conditions of this Agreement and the other Loan Documents and to ensure
perfection and priority of the Liens created or intended to be created by the Collateral Documents,
all at the expense of the Borrower.

          (d) If assets (including any real property or improvements thereto or any interest therein but
only to the extent such real property constitutes Material Real Property and in any event excluding
Excluded Property) are acquired by a Loan Party after the Effective Date and that shall have an
aggregate acquisition cost in excess of $10,000,000 (other than assets constituting Collateral
under the Security Agreement that become subject to the Lien under the Security Agreement upon
acquisition thereof), the Borrower will notify the Administrative Agent thereof, and, if requested
by the Administrative Agent, the Borrower will cause such assets to be subjected to a Lien securing
the Secured Obligations and will take, and cause the other Loan Parties to take, such actions as
shall be necessary or reasonably requested by the Administrative Agent to grant and perfect such
Liens, including actions described in paragraph (c) of this Section, all at the expense of the
Borrower.

ARTICLE VI

Negative Covenants

          Until the Commitments have expired or terminated and the principal of and interest on
each Loan and all fees payable hereunder have been paid in full and all Letters of Credit have
expired or terminated and all LC Disbursements shall have been reimbursed, each of Holdings and the
Borrower covenants and agrees with the Lenders that:

          SECTION 6.01. Indebtedness. Holdings will not, and will not permit any Subsidiary to,
create, incur, assume or permit to exist any Indebtedness, except:

     (a) the Secured Obligations;

     (b) Indebtedness existing on the date hereof and set forth in Schedule 6.01 and extensions,
renewals and replacements of any such Indebtedness with Indebtedness of a similar type that does
not increase the outstanding principal amount thereof;

     (c) Indebtedness of Holdings to any Subsidiary and of any Subsidiary to Holdings or any other
Subsidiary; provided that Indebtedness of any Subsidiary that is not a Loan Party to any Loan Party
shall be subject to the limitations set forth in Section 6.04(d) and Section 6.04(f);

     (d) Guarantees by Holdings of Indebtedness of any Subsidiary and by any Subsidiary of
Indebtedness of Holdings or any other Subsidiary;

     (e) Indebtedness of Holdings or any Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets, including Capital Lease Obligations and
any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien
on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of
any such Indebtedness that do not increase the outstanding principal amount thereof;
provided that (i) such Indebtedness is incurred prior to or within one hundred eighty (180)
days after such acquisition or the completion of such construction or improvement and (ii) the
aggregate principal amount of Indebtedness permitted by this clause (e) shall not exceed
$40,000,000 at any time outstanding;

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     (f) Indebtedness of Holdings or any Subsidiary as an account party in respect of trade letters
of credit;

     (g) Indebtedness of Holdings or any Subsidiary secured by a Lien on any asset (not
constituting Collateral) of Holdings or any Subsidiary; provided that the aggregate outstanding
principal amount of Indebtedness permitted by this clause (g) shall not in the aggregate exceed
$40,000,000 at any time;

     (h) unsecured Indebtedness in an aggregate principal amount not exceeding $40,000,000 at any
time outstanding; and

     (i) additional unsecured Indebtedness of the Borrower (including unsecured Subordinated
Indebtedness), to the extent not otherwise permitted under this Section 6.01, and any Indebtedness
of the Borrower constituting refinancings, renewals or replacements of any such Indebtedness;
provided that (i) both immediately prior to and after giving effect (including pro forma effect)
thereto, no Default or Event of Default shall exist or would result therefrom, (ii) such
Indebtedness matures after, and does not require any scheduled amortization or other scheduled
payments of principal prior to, the date that is 181 days after the Maturity Date (it being
understood that any provision requiring an offer to purchase such Indebtedness as a result of
change of control or asset sale shall not violate the foregoing restriction), (iii) such
Indebtedness is not guaranteed by any Subsidiary of the Borrower other than the Subsidiary
Guarantors (which guarantees, if such Indebtedness is subordinated, shall be expressly subordinated
to the Secured Obligations on terms not less favorable to the Lenders than the subordination terms
of such Subordinated Indebtedness), (iv) the covenants applicable to such Indebtedness are not more
onerous or more restrictive in any material respect (taken as a whole) than the applicable
covenants set forth in this Agreement, unless the same are required under the then prevailing
market conditions for such Indebtedness as reasonably determined by the Administrative Agent and
(v) if, at the time of the incurrence of such Indebtedness and immediately after giving effect
thereto (including pro forma effect), the Leverage Ratio is equal to or greater than 3.25 to 1.00,
the aggregate outstanding principal amount of Indebtedness permitted by this clause (h) shall not
exceed $40,000,000 at any time.

          SECTION 6.02. Liens. Holdings will not, and will not permit any Subsidiary to, create,
incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired
by it, or assign or sell any income or revenues (including accounts receivable) or rights in
respect of any thereof, except:

     (a) Liens created pursuant to any Loan Document;

     (b) Permitted Encumbrances;

     (c) any Lien on any property or asset of Holdings or any Subsidiary existing on the date
hereof and set forth in Schedule 6.02; provided that (i) such Lien shall not apply to any other
property or asset of Holdings or any Subsidiary and (ii) such Lien shall secure only those
obligations which it secures on the date hereof and extensions, renewals and replacements thereof
that do not increase the outstanding principal amount thereof;

     (d) any Lien existing on any property or asset prior to the acquisition thereof by Holdings or
any Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary after
the date hereof prior to the time such Person becomes a Subsidiary; provided that (i) such Lien is
not created in contemplation of or in connection with such acquisition or such Person

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becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other
property or assets of Holdings or any Subsidiary and (iii) such Lien shall secure only those
obligations which it secures on the date of such acquisition or the date such Person becomes
a Subsidiary, as the case may be, and extensions, renewals and replacements thereof that do
not increase the outstanding principal amount thereof;

     (e) Liens on fixed or capital assets acquired, constructed or improved by Holdings or any
Subsidiary; provided that (i) such security interests secure Indebtedness permitted by
clause (e) of Section 6.01, (ii) such security interests and the Indebtedness secured
thereby are incurred prior to or within one hundred eighty (180) days after such acquisition
or the completion of such construction or improvement, (iii) the Indebtedness secured
thereby does not exceed the cost of acquiring, constructing or improving such fixed or
capital assets and (iv) such security interests shall not apply to any other property or
assets of Holdings or any Subsidiary; and

     (f) Liens on assets (not constituting Collateral) of Holdings and its Subsidiaries not
otherwise permitted above so long as the aggregate principal amount of the Indebtedness and
other obligations subject to such Liens does not at any time exceed $40,000,000; provided
that Liens on any Intellectual Property of Holdings or its Subsidiaries shall not be
permitted under this clause (f).

Notwithstanding anything to the contrary set forth in this Section 6.02, Holdings will not,
and will not permit any Subsidiary to, create, incur, assume or permit to exist any Lien on
any Intellectual Property of Holdings or any of its Subsidiaries.

          SECTION 6.03. Fundamental Changes and Asset Sales. (a) Holdings will not, and will not
permit any Subsidiary to, merge into or consolidate with any other Person, or permit any other
Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in
one transaction or in a series of transactions) any of its assets (including pursuant to a Sale and
Leaseback Transaction), or any of the Equity Interests of any of its Subsidiaries (in each case,
whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time
thereof and immediately after giving effect thereto no Default shall have occurred and be
continuing:

     (i) any Person may merge into the Borrower in a transaction in which the Borrower is the
surviving corporation;

     (ii) any Subsidiary may merge into the Borrower or a Subsidiary Guarantor in a transaction in
which the surviving entity is the Borrower or such Subsidiary Guarantor (provided that any such
merger involving the Borrower must result in the Borrower as the surviving entity);

     (iii) any Subsidiary (other than the Borrower) may sell, transfer, lease or otherwise dispose
of its assets to a Loan Party;

     (iv) Holdings and its Subsidiaries may (A) sell inventory in the ordinary course of business,
(B) effect sales, trade-ins or dispositions of used equipment for value in the ordinary course of
business consistent with past practice, (C) enter into licenses of Intellectual Property, and (D)
make any other sales, transfers, leases or dispositions that, together with all other property of
Holdings and its Subsidiaries previously leased, sold or disposed of as permitted by this clause
(D) during any fiscal year of the Borrower, does not exceed $75,000,000 (as of the most recently
completed fiscal quarter of Holdings); and

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     (v) any Subsidiary that is not a Loan Party may liquidate or dissolve if the Borrower
determines in good faith that such liquidation or dissolution is in the best interests of
the Borrower and is not materially disadvantageous to the Lenders.

          (b)Holdings will not, and will not permit any of its Subsidiaries to, engage to any material
extent in any business other than businesses of the type conducted by Holdings and its Subsidiaries
on the date of execution of this Agreement and businesses reasonably related thereto.

          (c)Holdings will not, nor will it permit any of its Subsidiaries to, change its fiscal year
from the basis in effect on the Effective Date.

          SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions. Holdings will
not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant
to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any
capital stock, evidences of indebtedness or other securities (including any option, warrant or
other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to,
Guarantee any obligations of, or make or permit to exist any investment or any other interest in,
any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions)
any Person or any assets of any other Person constituting a business unit, except:

          (a) Permitted Investments;

          (b) Permitted Acquisitions;

          (c) investments by Holdings and its Subsidiaries existing on the date hereof in the capital
stock of its Subsidiaries;

          (d) investments, loans or advances made by Holdings in or to any Subsidiary and made by any
Subsidiary in or to Holdings or any other Subsidiary (provided that not more than an aggregate
amount of $100,000,000 in investments, loans or advances or capital contributions may be made and
remain outstanding, at any time, by Loan Parties to Subsidiaries which are not Loan Parties);

          (e) Guarantees constituting Indebtedness permitted by Section 6.01; and

          (f) any other investment, loan or advance (other than acquisitions), including joint ventures
and minority interests in entities that are not directly or indirectly controlled by the Borrower,
so long as the aggregate amount of all such investments, loans and advances does not at any time
exceed the greater of (i) $125,000,000 and (ii) fifteen percent (15%) of Consolidated Total Assets
(as of the most recently completed fiscal quarter of Holdings) during the term of this Agreement.

          SECTION 6.05. Swap Agreements. Holdings will not, and will not permit any of its
Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or
mitigate risks to which Holdings or any Subsidiary has actual exposure (other than those in respect
of Equity Interests of Holdings or any of its Subsidiaries), (b) Swap Agreements entered into in
order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one
floating rate to another floating rate or otherwise) with respect to any interest-bearing liability
or investment of Holdings or any Subsidiary and (c) Swap Agreements entered into in order to
effectively cap, collar or exchange currency exchange rates with respect to actual exposure by
Holdings or any of its Subsidiaries.

          SECTION 6.06. Transactions with Affiliates. Holdings will not, and will not permit any
of its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase,
lease or

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otherwise acquire any property or assets from, or otherwise engage in any other transactions with,
any of its Affiliates, except (a) in the ordinary course of business at prices and on terms and
conditions not less favorable to Holdings or such Subsidiary than could be obtained on an
arm’s-length basis from unrelated third parties, (b) transactions between or among Holdings and its
wholly owned Subsidiaries not involving any other Affiliate and (c) any Restricted Payment
permitted by Section 6.07.

          SECTION 6.07. Restricted Payments.

          Holdings will not, and will not permit any of its Subsidiaries to, declare or make, or agree
to pay or make, directly or indirectly, any Restricted Payment, except (a) Holdings may declare and
pay dividends with respect to its Equity Interests payable solely in additional shares of its
common stock, (b) Subsidiaries may declare and pay dividends ratably with respect to their Equity
Interests, (c) Holdings may make Restricted Payments pursuant to and in accordance with stock
option plans or other benefit plans for management or employees of Holdings and its Subsidiaries
and (d) Holdings and its Subsidiaries may make any other Restricted Payment so long as no Default
or Event of Default has occurred and is continuing prior to making such Restricted Payment or would
arise after giving effect (including giving effect on a Pro Forma Basis) thereto and the aggregate
amount of all such Restricted Payments during the term of this Agreement does not exceed (i)
$50,000,000, if at the time of and immediately after giving effect (including giving effect on a
Pro Forma Basis) thereto, the Leverage Ratio is less than or equal to 3.00 to 1.00 but is greater
than 2.50 to 1.00 or (ii) $25,000,000, if at the time of and immediately after giving effect
(including giving effect on a Pro Forma Basis) thereto, the Leverage Ratio is less than or equal to
3.50 to 1.00 but is greater than 3.00 to 1.00; provided that, if at the time of and immediately
after giving effect (including giving effect on a Pro Forma Basis) thereto, the Leverage Ratio is
less than or equal to 2.50 to 1.00, there shall be no dollar limitation on such Restricted
Payments.

          SECTION 6.08. Restrictive Agreements.

          Holdings will not, and will not permit any of its Subsidiaries to, directly or indirectly,
enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts
or imposes any condition upon (a) the ability of Holdings or any Subsidiary to create, incur or
permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary
to pay dividends or other distributions with respect to holders of its Equity Interests or to make
or repay loans or advances to Holdings or any other Subsidiary or to Guarantee Indebtedness of
Holdings or any other Subsidiary; provided that (i) the foregoing shall not apply to
restrictions and conditions imposed by law or by any Loan Document, (ii) the foregoing shall not
apply to customary restrictions and conditions contained in agreements relating to the sale of a
Subsidiary pending such sale, provided such restrictions and conditions apply only to the
Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not
apply to restrictions or conditions set forth in any agreement governing Indebtedness permitted by
Section 6.01; provided that such restrictions and conditions are customary for such
Indebtedness and are no more restrictive, taken as a whole, than the comparable restrictions and
conditions set forth in this Agreement, unless the same are required under the then prevailing
market conditions for such Indebtedness as reasonably determined by the Administrative Agent, (iv)
clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement
relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions
apply only to the property or assets securing such Indebtedness and (v) clause (a) of the foregoing
shall not apply to customary provisions in leases and other contracts restricting the assignment
thereof.

          SECTION 6.09. Subordinated Indebtedness and Amendments to Subordinated Indebtedness
Documents.

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          Holdings will not, and will not permit any Subsidiary to, directly or indirectly
voluntarily prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire,
any Subordinated Indebtedness or any Indebtedness from time to time outstanding under the
Subordinated Indebtedness Documents, except for payments in respect of Subordinated Indebtedness so
long as at the time of and immediately after giving effect (including giving effect on a Pro Forma
Basis) thereto, (i) the Leverage Ratio is less than or equal to 3.25 to 1.00 and (ii) Liquidity is
greater than or equal to $75,000,000. Furthermore, Holdings will not, and will not permit any
Subsidiary to, amend the Subordinated Indebtedness Documents or any document, agreement or
instrument evidencing any Indebtedness incurred pursuant to the Subordinated Indebtedness Documents
(or any replacements, substitutions, extensions or renewals thereof) or pursuant to which such
Indebtedness is issued where such amendment, modification or supplement amends, modifies or adds
any provision thereof in a manner which (i) when taken as a whole, is materially adverse to
Holdings, the Borrower, any Subsidiary and/or the Lenders or (ii) is more onerous than the existing
applicable provision in the Subordinated Indebtedness Documents or the applicable provision in this
Agreement, unless the same are required under the then prevailing market conditions for such
Indebtedness as reasonably determined by the Administrative Agent.

          SECTION 6.10. Financial Covenants.

          (a) Maximum Leverage Ratio. Holdings will not permit the ratio (the “Leverage Ratio”),
determined as of the end of each of its fiscal quarters ending on and after July 2 2011, of (i)
Consolidated Total Indebtedness to (ii) Consolidated EBITDA for the period of four (4) consecutive
fiscal quarters ending with the end of such fiscal quarter, all calculated for Holdings and its
Subsidiaries on a consolidated basis, to be greater than 3.50 to 1.00.

          (b) Minimum Fixed Charge Coverage Ratio. Holdings will not permit the ratio,
determined as of the end of each of its fiscal quarters ending on and after July 2 2011, of (i)
Consolidated EBITDA to (ii) Consolidated Fixed Charges, in each case for the period of four (4)
consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for Holdings
and its Subsidiaries on a consolidated basis, to be less than 1.50 to 1.00.

ARTICLE VII

Events of Default

          If any of the following events (“Events of Default”) shall occur:

          (a) the Borrower shall fail to pay any principal of any Loan or any reimbursement obligation
in respect of any LC Disbursement when and as the same shall become due and payable, whether at the
due date thereof or at a date fixed for prepayment thereof or otherwise;

          (b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount
(other than an amount referred to in clause (a) of this Article) payable under this Agreement or
any other Loan Document, when and as the same shall become due and payable, and such failure shall
continue unremedied for a period of three (3) Business Days;

          (c) any representation or warranty made or deemed made by or on behalf of Holdings or any
Subsidiary in or in connection with this Agreement or any other Loan Document or any amendment or
modification hereof or thereof or waiver hereunder or thereunder, or in any report, certificate,
financial statement or other document furnished pursuant to or in connection with this Agreement or
any other

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Loan Document or any amendment or modification thereof or waiver thereunder, shall prove to have
been incorrect in any material respect when made or deemed made;

          (d) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained
in Section 5.02, 5.03 (with respect to a Loan Party’s existence), 5.08 or 5.09 or in Article VI or
in Article X;

          (e) any Loan Party shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article)
or any other Loan Document, and such failure shall continue unremedied for a period of thirty (30)
days after notice thereof from the Administrative Agent to the Borrower (which notice will be given
at the request of any Lender);

          (f) Holdings or any Subsidiary shall fail to make any payment (whether of principal or
interest and regardless of amount) in respect of any Material Indebtedness, when and as the same
shall become due and payable;

          (g) any event or condition occurs that results in any Material Indebtedness becoming due prior
to its scheduled maturity or that enables or permits, after the expiration of any applicable grace
period provided in the applicable agreement or instrument under which such Indebtedness was
created, the holder or holders of any Material Indebtedness or any trustee or agent on its or their
behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase,
redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g)
shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or
transfer of the property or assets securing such Indebtedness;

          (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, reorganization or other relief in respect of Holdings, the Borrower or any
Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state
or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii)
the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official
for Holdings, the Borrower or any Material Subsidiary or for a substantial part of its assets, and,
in any such case, such proceeding or petition shall continue undismissed for sixty (60) days or an
order or decree approving or ordering any of the foregoing shall be entered;

          (i) Holdings, the Borrower or any Material Subsidiary shall (i) voluntarily commence any
proceeding or file any petition seeking liquidation, reorganization or other relief under any
Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner,
any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to
the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official
for Holdings, the Borrower or any Material Subsidiary or for a substantial part of its assets, (iv)
file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for
the purpose of effecting any of the foregoing;

          (j) Holdings, the Borrower or any Material Subsidiary shall become unable, admit in writing
its inability or fail generally to pay its debts as they become due;

          (k) one or more judgments for the payment of money in an aggregate amount in excess of
$30,000,000 shall be rendered against Holdings, any Subsidiary or any combination thereof and the
same shall remain undischarged for a period of forty-five (45) consecutive days during which
execution shall

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not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or
levy upon any assets of the Borrower or any Subsidiary to enforce any such judgment;

          (l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken
together with all other ERISA Events that have occurred, could reasonably be expected to result in
a Material Adverse Effect;

          (m) a Change in Control shall occur;

          (n) the occurrence of any “default”, as defined in any Loan Document (other than this Agreement) or
the breach of any of the terms or provisions of any Loan Document (other than this Agreement),
which default or breach continues beyond any period of grace therein provided;

          (o) any material provision of any Loan Document for any reason ceases to be valid, binding and
enforceable in accordance with its terms (or the Borrower or any Guarantor shall challenge the
enforceability of any Loan Document or shall assert in writing, or engage in any action or inaction
based on any such assertion, that any provision of any of the Loan Documents has ceased to be or
otherwise is not valid, binding and enforceable in accordance with its terms); or

          (p) any Collateral Document shall for any reason fail to create a valid and perfected first
priority security interest in any material portion of the Collateral purported to be covered
thereby, except as permitted by the terms of any Loan Document;

then, and in every such event (other than an event with respect to the Borrower described in clause
(h) or (i) of this Article), and at any time thereafter during the continuance of such event, the
Administrative Agent may, and at the request of the Required Lenders shall, by notice to the
Borrower, take either or both of the following actions, at the same or different times: (i)
terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii)
declare the Loans then outstanding to be due and payable in whole (or in part, in which case any
principal not so declared to be due and payable may thereafter be declared to be due and payable),
and thereupon the principal of the Loans so declared to be due and payable, together with accrued
interest thereon and all fees and other Secured Obligations of the Borrower accrued hereunder and
under the other Loan Documents, shall become due and payable immediately, without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in
case of any event with respect to the Borrower described in clause (h) or (i) of this Article, the
Commitments shall automatically terminate and the principal of the Loans then outstanding, together
with accrued interest thereon and all fees and other Secured Obligations accrued hereunder and
under the other Loan Documents, shall automatically become due and payable, without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. Upon
the occurrence and during the continuance of an Event of Default, the Administrative Agent may, and
at the request of the Required Lenders shall, exercise any rights and remedies provided to the
Administrative Agent under the Loan Documents or at law or equity, including all remedies provided
under the UCC.

ARTICLE VIII

The Administrative Agent

          Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative
Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf,
including execution of the other Loan Documents, and to exercise such powers as are delegated to
the

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Administrative Agent by the terms of the Loan Documents, together with such actions and powers as
are reasonably incidental thereto.

          The bank serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and
generally engage in any kind of business with Holdings or any Subsidiary or other Affiliate thereof
as if it were not the Administrative Agent hereunder.

          The Administrative Agent shall not have any duties or obligations except those expressly set
forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the
Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any
duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is
required to exercise in writing as directed by the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section
9.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall
not have any duty to disclose, and shall not be liable for the failure to disclose, any information
relating to Holdings or any of its Subsidiaries that is communicated to or obtained by the bank
serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent
shall not be liable for any action taken or not taken by it with the consent or at the request of
the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under
the circumstances as provided in Section 9.02) or in the absence of its own gross negligence or
willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default
unless and until written notice thereof is given to the Administrative Agent by the Borrower or a
Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or
inquire into (i) any statement, warranty or representation made in or in connection with any Loan
Document, (ii) the contents of any certificate, report or other document delivered hereunder or in
connection with any Loan Document, (iii) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth in any Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of any Loan Document or any other agreement,
instrument or document, (v) the creation, perfection or priority of Liens on the Collateral or the
existence of the Collateral or (vi) the satisfaction of any condition set forth in Article IV or
elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be
delivered to the Administrative Agent.

          The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the
Borrower), independent accountants and other experts selected by it, and shall not be liable for
any action taken or not taken by it in accordance with the advice of any such counsel, accountants
or experts.

          The Administrative Agent may perform any and all its duties and exercise its rights and powers
by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative
Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers
through their respective Related Parties. The exculpatory provisions of the preceding paragraphs
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any
such sub-agent, and shall apply to their respective activities in connection with the syndication
of the credit facilities provided for herein as well as activities as Administrative Agent.

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          Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the
Issuing Bank and the Borrower. Upon any such resignation, the Required Lenders shall have the right
to appoint a successor (such successor to be approved by the Borrower, such approval not to be
unreasonably withheld or delayed; provided, however, if an Event of Default shall exist at such
time, no approval of the Borrower shall be required hereunder). If no successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days
after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor
Administrative Agent which shall be any of the Lenders or any other bank with an office in New
York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as
Administrative Agent hereunder by a successor, such successor shall succeed to and become vested
with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the
retiring Administrative Agent shall be discharged from its duties and obligations hereunder. The
fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable
to its predecessor unless otherwise agreed between the Borrower and such successor. After the
Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall
continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their
respective Related Parties in respect of any actions taken or omitted to be taken by any of them
while it was acting as Administrative Agent.

          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 from time to time
deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Loan Document or any related agreement or any document furnished
hereunder or thereunder.

          None of the Lenders, if any, identified in this Agreement as a Syndication Agent or
Documentation Agent shall have any right, power, obligation, liability, responsibility or duty
under this Agreement other than those applicable to all Lenders as such. Without limiting the
foregoing, none of such Lenders shall have or be deemed to have a fiduciary relationship with any
Lender. Each Lender hereby makes the same acknowledgments with respect to the relevant Lenders in
their respective capacities as Syndication Agent or Documentation Agent, as applicable, as it makes
with respect to the Administrative Agent in the preceding paragraph.

          The Lenders are not partners or co-venturers, and no Lender shall be liable for the acts or
omissions of, or (except as otherwise set forth herein in case of the Administrative Agent)
authorized to act for, any other Lender. The Administrative Agent shall have the exclusive right
on behalf of the Lenders to enforce the payment of the principal of and interest on any Loan after
the date such principal or interest has become due and payable pursuant to the terms of this
Agreement.

          In its capacity, the Administrative Agent is a “representative” of the Secured Parties within
the meaning of the term “secured party” as defined in the New York Uniform Commercial Code. Each
Lender authorizes the Administrative Agent to enter into each of the Collateral Documents to which
it is a party and to take all action contemplated by such documents. Each Lender agrees that no
Secured Party (other than the Administrative Agent) shall have the right individually to seek to
realize upon the security granted by any Collateral Document, it being understood and agreed that
such rights and remedies may be exercised solely by the Administrative Agent for the benefit of the
Secured Parties upon the terms of the Collateral Documents. In the event that any Collateral is
hereafter pledged by any Person as collateral security for the Secured Obligations, the
Administrative Agent is hereby authorized, and

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hereby granted a power of attorney, to execute and deliver on behalf of the Secured Parties
any Loan Documents necessary or appropriate to grant and perfect a Lien on such Collateral in favor
of the Administrative Agent on behalf of the Secured Parties. The Lenders hereby authorize the
Administrative Agent, at its option and in its discretion, to release any Lien granted to or held
by the Administrative Agent upon any Collateral (i) as described in Section 9.02(d); (ii) as
permitted by, but only in accordance with, the terms of the applicable Loan Document; or (iii) if
approved, authorized or ratified in writing by the Required Lenders, unless such release is
required to be approved by all of the Lenders hereunder. Upon request by the Administrative Agent
at any time, the Lenders will confirm in writing the Administrative Agent’s authority to release
particular types or items of Collateral pursuant hereto. Upon any sale or transfer of assets
constituting Collateral which is permitted pursuant to the terms of any Loan Document, or consented
to in writing by the Required Lenders or all of the Lenders, as applicable, and upon at least five
(5) Business Days’ prior written request by the Borrower to the Administrative Agent, the
Administrative Agent shall (and is hereby irrevocably authorized by the Lenders to) execute such
documents as may be necessary to evidence the release of the Liens granted to the Administrative
Agent for the benefit of the Secured Parties herein or pursuant hereto upon the Collateral that was
sold or transferred; provided, however, that (i) the Administrative Agent shall not be required to
execute any such document on terms which, in the Administrative Agent’s opinion, would expose the
Administrative Agent to liability or create any obligation or entail any consequence other than the
release of such Liens without recourse or warranty, and (ii) such release shall not in any manner
discharge, affect or impair the Secured Obligations or any Liens upon (or obligations of Holdings
or any Subsidiary in respect of) all interests retained by Holdings or any Subsidiary, including
(without limitation) the proceeds of the sale, all of which shall continue to constitute part of
the Collateral.

          The Borrower, on its behalf and on behalf of the other Loan Parties, and each Lender, on its
behalf and on the behalf of its affiliated Secured Parties, hereby irrevocably constitute the
Administrative Agent as the holder of an irrevocable power of attorney (fondé de pouvoir within the
meaning of Article 2692 of the Civil Code of Québec) in order to hold hypothecs and security
granted by Holdings or any Subsidiary on property pursuant to the laws of the Province of Quebec to
secure obligations of Holdings or any Subsidiary under any bond, debenture or similar title of
indebtedness issued by Holdings or any Subsidiary in connection with this Agreement, and agree that
the Administrative Agent may act as the bondholder and mandatary with respect to any bond,
debenture or similar title of indebtedness that may be issued by Holdings or any Subsidiary and
pledged in favor of the Secured Parties in connection with this Agreement. Notwithstanding the
provisions of Section 32 of the An Act respecting the special powers of legal persons (Quebec),
JPMorgan Chase Bank, N.A. as Administrative Agent may acquire and be the holder of any bond issued
by Holdings or any Subsidiary in connection with this Agreement (i.e., the fondé de pouvoir may
acquire and hold the first bond issued under any deed of hypothec by Holdings or any Subsidiary).

          The Administrative Agent is hereby authorized to execute and deliver any documents necessary
or appropriate to create and perfect the rights of pledge for the benefit of the Secured Parties
including a right of pledge with respect to the entitlements to profits, the balance left after
winding up and the voting rights of Holdings as ultimate parent of any subsidiary of Holdings which
is organized under the laws of the Netherlands and the Equity Interests of which are pledged in
connection herewith (a “Dutch Pledge”). Without prejudice to the provisions of this Agreement and
the other Loan Documents, the parties hereto acknowledge and agree with the creation of parallel
debt obligations of Holdings or any relevant Subsidiary as will be described in any Dutch Pledge
(the “Parallel Debt”), including that any payment received by the Administrative Agent in respect
of the Parallel Debt will — conditionally upon such payment not subsequently being avoided or
reduced by virtue of any provisions or enactments relating to bankruptcy, insolvency, preference,
liquidation or similar laws of general application — be deemed a satisfaction of a pro rata portion
of the corresponding amounts of the Obligations, and any payment to the Secured Parties in
satisfaction of the Obligations shall — conditionally upon such payment

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not subsequently being avoided or reduced by virtue of any provisions or enactments relating to
bankruptcy, insolvency, preference, liquidation or similar laws of general application — be deemed
as satisfaction of the corresponding amount of the Parallel Debt. The parties hereto acknowledge
and agree that, for purposes of a Dutch Pledge, any resignation by the Administrative Agent is not
effective until its rights under the Parallel Debt are assigned to the successor Administrative
Agent.

          The parties hereto acknowledge and agree for the purposes of taking and ensuring the
continuing validity of German law governed pledges (Pfandrechte) with the creation of parallel debt
obligations of Holdings and its Subsidiaries as will be further described in a separate German law
governed parallel debt undertaking. The Administrative Agent shall (i) hold such parallel debt
undertaking as fiduciary agent (Treuhaender) and (ii) administer and hold as fiduciary agent
(Treuhaender) any pledge created under a German law governed Collateral Document which is created
in favor of any Secured Party or transferred to any Secured Party due to its accessory nature
(Akzessorietaet), in each case in its own name and for the account of the Secured Parties. Each
Lender, on its own behalf and on behalf of its affiliated Secured Parties, hereby authorizes the
Administrative Agent to enter as its agent in its name and on its behalf into any German law
governed Collateral Document, to accept as its agent in its name and on its behalf any pledge under
such Collateral Document and to agree to and execute as agent its in its name and on its behalf any
amendments, supplements and other alterations to any such Collateral Document and to release any
such Collateral Document and any pledge created under any such Collateral Document in accordance
with the provisions herein and/or the provisions in any such Collateral Document.

ARTICLE IX

Miscellaneous

          SECTION 9.01. Notices. (a) Except in the case of notices and other communications
expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows:

     (i) if to Holdings or the Borrower, to it at 10700 Bren Road West, Minnetonka, Minnesota 55343,
Attention of Treasurer (Telecopy No. (952) 930-6157; Telephone No. (952) 930-6000);

     (ii) if to the
Administrative Agent, to JPMorgan Chase Bank, N.A., Loan and Agency Services, 10 South Dearborn,
7th Floor, Chicago, Illinois 60603, Attention of Nanette Wilson (Telecopy No. (888)
292-9533),with a copy to JPMorgan Chase Bank, N.A., 10 South Dearborn Street, 9th Floor,
Attention of Krys J. Szremski (Telecopy No. (312) 377-0185);

     (iii) if to the Issuing Bank, to it at
JPMorgan Chase Bank, N.A., Loan and Agency Services, 10 South Dearborn, 7th Floor,
Chicago, Illinois 60603, Attention of Cassandra Groves (Telecopy No. (312) 732-2729);

     (iv) if to
the Swingline Lender, to it at JPMorgan Chase Bank, N.A., Loan and Agency Services, 10 South
Dearborn, 7th Floor, Chicago, Illinois 60603, Attention of Nanette Wilson (Telecopy No.
(888) 292-9533); and

     (v) if to any other Lender, to it at its address (or telecopy number) set
forth in its Administrative Questionnaire.

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          (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communications pursuant to procedures approved by the Administrative Agent; provided
that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the
Administrative Agent and the applicable Lender. 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) Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement shall
be deemed to have been given on the date of receipt.

          SECTION 9.02. Waivers; Amendments. (a) No failure or delay by the Administrative Agent, the
Issuing Bank or any Lender in exercising any right or power hereunder or under any other Loan
Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such
right or power, or any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other right or power. The
rights and remedies of the Administrative Agent, the Issuing Bank and the Lenders hereunder and
under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that
they would otherwise have. No waiver of any provision of this Agreement or consent to any
departure by the Borrower therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. Without limiting the generality of
the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a
waiver of any Default, regardless of whether the Administrative Agent, any Lender or the Issuing
Bank may have had notice or knowledge of such Default at the time.

          (b) Except as provided in Section 2.20 with respect to an Incremental Term Loan Amendment,
neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant
to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or
by Holdings, the Borrower and the Administrative Agent with the consent of the Required Lenders;
provided that no such agreement shall (i) increase the Commitment of any Lender without the written
consent of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce
the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of
each Lender directly affected thereby, (iii) postpone the scheduled date of payment of the
principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable
hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled
date of expiration of any Commitment, without the written consent of each Lender directly affected
thereby, (iv) change Section 2.18(b) or (d) in a manner that would alter the pro rata sharing of
payments required thereby, without the written consent of each Lender, (v) change any of the
provisions of this Section or the definition of “Required Lenders” or any other provision hereof
specifying the number or percentage of Lenders required to waive, amend or modify any rights
hereunder or make any determination or grant any consent hereunder, without the written consent of
each Lender (it being understood that, solely with the consent of the parties prescribed by Section
2.20 to be parties to an Incremental Term Loan Amendment, Incremental Term Loans may be included in
the determination of Required Lenders on substantially the same basis as the Commitments and the
Revolving Loans are included on the Effective Date), (vi) release Holdings from its obligations
under the Loan Guaranty without the written consent of each Lender, (vii) release all or
substantially all of the Subsidiary Guarantors from their obligations under the Subsidiary Guaranty
without the written consent of each Lender, or (viii) except as provided in clause (d) of this
Section or in any Collateral Document, release all or substantially all of the Collateral, without
the written

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consent of each Lender; provided further that no such agreement shall amend, modify or otherwise
affect the rights or duties of the Administrative Agent, the Issuing Bank or the Swingline Lender
hereunder without the prior written consent of the Administrative Agent, the Issuing Bank or the
Swingline Lender, as the case may be.

          (c) Notwithstanding the foregoing, this Agreement and any other Loan Document may be amended
(or amended and restated) with the written consent of the Required Lenders, the Administrative
Agent and the Loan Parties party to each relevant Loan Document (x) to add one or more credit
facilities (in addition to the Incremental Term Loans pursuant to an Incremental Term Loan
Amendment) to this Agreement and to permit extensions of credit from time to time outstanding
thereunder and the accrued interest and fees in respect thereof to share ratably in the benefits of
this Agreement and the other Loan Documents with the Revolving Loans, Incremental Term Loans and
the accrued interest and fees in respect thereof and (y) to include appropriately the Lenders
holding such credit facilities in any determination of the Required Lenders and Lenders.

          (d) The Lenders hereby irrevocably authorize the Administrative Agent, at its option and in
its sole discretion, to release any Liens granted to the Administrative Agent by the Loan Parties
on any Collateral (i) upon the termination of all the Commitments, payment and satisfaction in full
in cash of all Secured Obligations (other than Unliquidated Obligations), and the cash
collateralization of all Unliquidated Obligations in a manner satisfactory to the Administrative
Agent, (ii) constituting property being sold or disposed of if the Borrower certifies to the
Administrative Agent that the sale or disposition is made in compliance with the terms of this
Agreement (and the Administrative Agent may rely conclusively on any such certificate, without
further inquiry), (iii) constituting property leased to Holdings or any Subsidiary under a lease
which has expired or been terminated in a transaction permitted under this Agreement, or (iv) as
required to effect any sale or other disposition of such Collateral in connection with any exercise
of remedies of the Administrative Agent and the Lenders pursuant to Article VII. Any such release
shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those
expressly being released) upon (or obligations of the Loan Parties in respect of) all interests
retained by the Loan Parties, including the proceeds of any sale, all of which shall continue to
constitute part of the Collateral.

          (e) If, in connection with any proposed amendment, waiver or consent requiring the consent of
“each Lender” or “each Lender directly affected thereby,” the consent of the Required Lenders is
obtained, but the consent of other necessary Lenders is not obtained (any such Lender whose consent
is necessary but not obtained being referred to herein as a “Non-Consenting Lender”), then the
Borrower may elect to replace a Non-Consenting Lender as a Lender party to this Agreement, provided
that, concurrently with such replacement, (i) another bank or other entity which is reasonably
satisfactory to the Borrower and the Administrative Agent shall agree, as of such date, to purchase
for cash the Loans and other Obligations due to the Non-Consenting Lender pursuant to an Assignment
and Assumption and to become a Lender for all purposes under this Agreement and to assume all
obligations of the Non-Consenting Lender to be terminated as of such date and to comply with the
requirements of clause (b) of Section 9.04, and (ii) the Borrower shall pay to such Non-Consenting
Lender in same day funds on the day of such replacement (1) all interest, fees and other amounts
then accrued but unpaid to such Non-Consenting Lender by the Borrower hereunder to and including
the date of termination, including without limitation payments due to such Non-Consenting Lender
under Sections 2.15 and 2.17, and (2) an amount, if any, equal to the payment which would have been
due to such Lender on the day of such replacement under Section 2.16 had the Loans of such
Non-Consenting Lender been prepaid on such date rather than sold to the replacement Lender.

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          (f) Notwithstanding anything to the contrary herein the Administrative Agent may, with the
consent of the Borrower only, amend, modify or supplement this Agreement or any of the other Loan
Documents to cure any ambiguity, omission, mistake, defect or inconsistency.

          SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all
reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates,
including the reasonable fees, charges and disbursements of counsel for the Administrative Agent,
in connection with the syndication and distribution (including, without limitation, via the
internet or through a service such as Intralinks) of the credit facilities provided for herein, the
preparation and administration of this Agreement and the other Loan Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses
incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of
any Letter of Credit or any demand for payment thereunder and (iii) all reasonable out-of-pocket
expenses incurred by the Administrative Agent, the Issuing Bank or any Lender, including the fees,
charges and disbursements of one U.S. counsel and one additional local counsel and regulatory
counsel in each applicable jurisdiction for the Administrative Agent and one additional counsel for
all the Lenders other than the Administrative Agent and additional counsel in light of actual or
potential conflicts of interest or the availability of different claims or defenses for the
Administrative Agent, the Issuing Bank or any Lender, in connection with the enforcement or
protection of its rights in connection with this Agreement and any other Loan Document, including
its rights under this Section, or in connection with the Loans made or Letters of Credit issued
hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit.

          (b) The Borrower shall indemnify the Administrative Agent, the Issuing Bank and each Lender,
and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses, including the fees, charges and disbursements of any counsel for
any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with,
or as a result of (i) the execution or delivery of any Loan Document or any agreement or instrument
contemplated thereby, the performance by the parties hereto of their respective obligations
thereunder or the consummation of the Transactions or any other transactions contemplated hereby,
(ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by
the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented
in connection with such demand do not strictly comply with the terms of such Letter of Credit),
(iii) any actual or alleged presence or release of Hazardous Materials on or from any property
owned or operated by Holdings or any of its Subsidiaries, or any Environmental Liability related in
any way to Holdings or any of its Subsidiaries, or (iv) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, whether brought by a third party or by Holdings or any of its
Subsidiaries, and regardless of whether any Indemnitee is a party thereto; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses are determined by a court of competent jurisdiction in a
final and nonappealable judgment to have resulted from the gross negligence or willful misconduct
of such Indemnitee. This Section 9.03(b) shall not apply with respect to Taxes other than any
Taxes that represent losses or damages arising from any non-Tax claim.

          (c) To the extent that the Borrower fails to pay any amount required to be paid by it to the
Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this
Section, each Lender severally agrees to pay to the Administrative Agent, the Issuing Bank or the
Swingline Lender, as the case may be, such Lender’s Applicable Percentage (determined as of the
time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid
amount (it

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being understood that the Borrower’s failure to pay any such amount shall not relieve the Borrower
of any default in the payment thereof); provided that the unreimbursed expense or indemnified loss,
claim, damage, liability or related expense, as the case may be, was incurred by or asserted
against the Administrative Agent, the Issuing Bank or the Swingline Lender in its capacity as such.

          (d) To the extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnitee (i) for any damages arising from the use by others of
information or other materials obtained through telecommunications, electronic or other information
transmission systems (including the Internet) except as determined by a court of competent
jurisdiction in a final and nonappealable judgment to have resulted from the gross negligence or
willful misconduct of such Indemnitee, or (ii) on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in
connection with, or as a result of, this Agreement, any other Loan Document or any agreement or
instrument contemplated hereby or thereby, the Transactions, any Loan or Letter of Credit or the
use of the proceeds thereof.

          (e) All amounts due under this Section shall be payable not later than thirty (30) days after
written demand therefor.

          SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and assigns
permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit),
except that (i) neither of Holdings or the Borrower may assign or otherwise transfer any of its
rights or obligations hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by Holdings or the Borrower without such consent shall be null and void) and
(ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in
accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed
to confer upon any Person (other than the parties hereto, their respective successors and assigns
permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit),
Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly
contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Bank and
the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

     (b)(i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may
assign to one or more assignees all or a portion of its rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans at the time owing to
it) with the prior written consent (such consent not to be unreasonably withheld) of:

     (A) the Borrower (provided that the Borrower shall be deemed to have consented to any such
assignment unless it shall object thereto by written notice to the Administrative Agent
within ten (10) Business Days after having received written notice thereof); provided,
further, that no consent of the Borrower shall be required for an assignment to a Lender, an
Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is
continuing, any other assignee;

     (B) the Administrative Agent; and

     (C) the Issuing Bank.

     (ii) Assignments shall be subject to the following additional conditions:

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     (A) except in the case of an assignment to a Lender or an Affiliate of a Lender
or an Approved Fund or an assignment of the entire remaining amount of the assigning
Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of
the assigning Lender subject to each such assignment (determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the
Administrative Agent) shall not be less than $5,000,000 unless each of the Borrower
and the Administrative Agent otherwise consent, provided that no such consent of the
Borrower shall be required if an Event of Default has occurred and is continuing;

     (B) each partial assignment shall be made as an assignment of a proportionate part
of all the assigning Lender’s rights and obligations under this Agreement, provided
that this clause shall not be construed to prohibit the assignment of a
proportionate part of all the assigning Lender’s rights and obligations in respect
of one Class of Commitments or Loans;

     (C) the parties to each assignment shall
execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500, such fee to be paid by
either the assigning Lender or the assignee Lender or shared between such Lenders;
and

     (D) the assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire in which the assignee
designates one or more credit contacts to whom all syndicate-level information
(which may contain material non-public information about the Borrower and its
affiliates and their Related Parties or their respective securities) will be made
available and who may receive such information in accordance with the assignee’s
compliance procedures and applicable laws, including Federal and state securities
laws.

          For the purposes of this Section 9.04(b), the term “Approved Fund” has the following meaning:

          “Approved Fund” means any Person (other than a natural person) that is engaged in making,
purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary
course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a
Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.

          (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this
Section, from and after the effective date specified in each Assignment and Assumption the assignee
thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption,
be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of
Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this Section 9.04 shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with paragraph (c) of this Section.

          (iv) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a
register for the recordation of the names and addresses of the Lenders, and the Commitment of, and
principal amount

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of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to
time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent, the Issuing Bank and the Lenders shall treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Borrower, the Issuing Bank and any Lender, at any reasonable time and from time
to time upon reasonable prior notice.

          (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning
Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph
(b) of this Section and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption and record the
information contained therein in the Register; provided that if either the assigning Lender or the
assignee shall have failed to make any payment required to be made by it pursuant to Section
2.05(c), 2.06(d) or (e), 2.07(b), 2.18(e) or 9.03(c), the Administrative Agent shall have no
obligation to accept such Assignment and Assumption and record the information therein in the
Register unless and until such payment shall have been made in full, together with all accrued
interest thereon. No assignment shall be effective for purposes of this Agreement unless it has
been recorded in the Register as provided in this paragraph.

          (c) Any Lender may, without the consent of the Borrower, the Administrative Agent, the Issuing
Bank or the Swingline Lender, sell participations to one or more banks or other entities (a
“Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans owing to it); provided that (A) such
Lender’s obligations under this Agreement shall remain unchanged; (B) such Lender shall remain
solely responsible to the other parties hereto for the performance of such obligations; and (C) the
Borrower, the Administrative Agent, the Issuing Bank and the other Lenders shall continue to deal
solely and directly with such Lender in connection with such Lender’s rights and obligations under
this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation
shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve
any amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver described in the first proviso to
Section 9.02(b) that affects such Participant. The Borrower agrees that each Participant shall be
entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and
limitations therein, including the requirements under Section 2.17(f) (it being understood that the
documentation required under Section 2.17(f) shall be delivered to the participating Lender)) to
the same extent as if it were a Lender and had acquired its interest by assignment pursuant to
paragraph (b) of this Section; provided that such Participant (A) agrees to be subject to the
provisions of Sections 2.18 and 2.19 as if it were an assignee under paragraph (b) of this Section;
and (B) shall not be entitled to receive any greater payment under Sections 2.15 or 2.17, with
respect to any participation, than its participating Lender would have been entitled to receive,
except to the extent such entitlement to receive a greater payment results from a Change in Law
that occurs after the Participant acquired the applicable participation. To the extent permitted
by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a
Lender, provided such Participant agrees to be subject to Section 2.18(d) as though it were a
Lender. Each Lender that sells a participation shall, acting solely for this purpose as an agent of
the Borrower, maintain a register on which it enters the name and address of each Participant and
the principal amounts (and stated interest) of each Participant’s interest in the Loans or other
obligations under this Agreement (the “Participant Register”); provided that no Lender shall have
any obligation to disclose all or any portion of the Participant Register to any Person (including
the identity of any Participant or any information relating to a Participant’s interest in any
Commitments, Loans, Letters
of Credit or its other obligations under any this Agreement) except to the extent that such
disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other
obligation is in

68

 

registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in
the Participant Register shall be conclusive absent manifest error, and such Lender shall treat
each person whose name is recorded in the Participant Register as the owner of such participation
for all purposes of this Agreement notwithstanding any notice to the contrary.

          (d) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including without limitation
any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall
not apply to any such pledge or assignment of a security interest; provided that no such pledge or
assignment of a security interest shall release a Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto.

          SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the
Loan Parties in the Loan Documents and in the certificates or other instruments delivered in
connection with or pursuant to this Agreement or any other Loan Document shall be considered to
have been relied upon by the other parties hereto and shall survive the execution and delivery of
the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of
any investigation made by any such other party or on its behalf and notwithstanding that the
Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any
Default or incorrect representation or warranty at the time any credit is extended hereunder, and
shall continue in full force and effect as long as the principal of or any accrued interest on any
Loan or any fee or any other amount payable under this Agreement or any other Loan Document is
outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have
not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII
shall survive and remain in full force and effect regardless of the consummation of the
transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the
Letters of Credit and the Commitments or the termination of this Agreement or any other Loan
Document or any provision hereof or thereof.

          SECTION 9.06. Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement, the other Loan Documents and any separate letter agreements with respect to fees
payable to the Administrative Agent constitute the entire contract among the parties relating to
the subject matter hereof and supersede any and all previous agreements and understandings, oral or
written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement
shall become effective when it shall have been executed by the Administrative Agent and when the
Administrative Agent shall have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns. Delivery of an
executed counterpart of a signature page of this Agreement by facsimile or other electronic imaging
shall be effective as delivery of a manually executed counterpart of this Agreement.

          SECTION 9.07. Severability. Any provision of any Loan Document held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such invalidity, illegality or unenforceability without affecting the validity, legality and
enforceability of the remaining provisions thereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

          SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing,
each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to
the fullest extent permitted by law, to set off and apply any and all deposits (general or special,
time or

69

 

demand, provisional or final and in whatever currency denominated) at any time held and other
obligations at any time owing by such Lender or Affiliate to or for the credit or the account of
any Loan Party against any of and all of the Secured Obligations held by such Lender, irrespective
of whether or not such Lender shall have made any demand under the Loan Documents and although such
obligations may be unmatured. Each Lender (or its Affiliate) exercising its right of setoff shall
notify the applicable Loan Party of such exercise of such right promptly after exercising such
right. The rights of each Lender under this Section are in addition to other rights and remedies
(including other rights of setoff) which such Lender may have.

          SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement
shall be construed in accordance with and governed by the law of the State of New York.

          (b) Each of Holdings and the Borrower hereby irrevocably and unconditionally submits, for
itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New
York sitting in New York County and of the United States District Court of the Southern District of
New York, and any appellate court from any thereof, in any action or proceeding arising out of or
relating to any Loan Document, or for recognition or enforcement of any judgment, and each of the
parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in such New York State or, to the extent permitted
by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan
Document shall affect any right that the Administrative Agent, the Issuing Bank or any Lender may
otherwise have to bring any action or proceeding relating to this Agreement or any other Loan
Document against any Loan Party or its properties in the courts of any jurisdiction.

          (c) Each of Holdings and the Borrower hereby irrevocably and unconditionally waives, to the
fullest extent it may legally and effectively do so, any objection which it may now or hereafter
have to the laying of venue of any suit, action or proceeding arising out of or relating to this
Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section.
Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

          (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement or any other Loan Document will
affect the right of any party to this Agreement to serve process in any other manner permitted by
law.

          SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE
BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION.

70

 

          SECTION 9.11. Headings. Article and Section headings and the Table of Contents used herein are
for convenience of reference only, are not part of this Agreement and shall not affect the
construction of, or be taken into consideration in interpreting, this Agreement.

          SECTION 9.12. Confidentiality. Each of the Administrative Agent, the Issuing Bank and the
Lenders agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and
agents, including accountants, legal counsel and other advisors (it being understood that the
Persons to whom such disclosure is made will be informed of the confidential nature of such
Information and instructed to keep such Information confidential), (b) to the extent requested by
any regulatory authority (including any self-regulatory authority, such as the National Association
of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with
the exercise of any remedies under this Agreement or any other Loan Document or any suit, action or
proceeding relating to this Agreement or any other Loan Document or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same
as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of
or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or
prospective counterparty (or its advisors) to any swap or derivative transaction relating to the
Borrower and its obligations, (g) with the consent of the Borrower or (h) to the extent such
Information (i) becomes publicly available other than as a result of a breach of this Section or
(ii) becomes available to the Administrative Agent, the Issuing Bank or any Lender on a
nonconfidential basis from a source other than the Borrower. For the purposes of this Section,
“Information” means all information received from Holdings or the Borrower relating to Holdings or
the Borrower or its business, other than any such information that is available to the
Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis prior to disclosure
by Holdings or the Borrower. Any Person required to maintain the confidentiality of Information as
provided in this Section shall be considered to have complied with its obligation to do so if such
Person has exercised the same degree of care to maintain the confidentiality of such Information as
such Person would accord to its own confidential information.

          SECTION 9.13. USA PATRIOT Act. Each Lender that is subject to the requirements of the USA
PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) hereby
notifies each Loan Party that pursuant to the requirements of the Act, it is required to obtain,
verify and record information that identifies such Loan Party, which information includes the name
and address of such Loan Party and other information that will allow such Lender to identify such
Loan Party in accordance with the Act.

          SECTION 9.14. Appointment for Perfection. Each Lender hereby appoints each other Lender as its
agent for the purpose of perfecting Liens, for the benefit of the Administrative Agent and the
Secured Parties, in assets which, in accordance with Article 9 of the UCC or any other applicable
law can be perfected only by possession. Should any Lender (other than the Administrative Agent)
obtain possession of any such Collateral, such Lender shall notify the Administrative Agent
thereof, and, promptly upon the Administrative Agent’s request therefor shall deliver such
Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with
the Administrative Agent’s instructions.

          SECTION 9.15. Releases of Subsidiary Guarantors.

          (a) A Subsidiary Guarantor shall automatically be released from its obligations under the
Subsidiary Guaranty upon the consummation of any transaction permitted by this Agreement as a
result of which such Subsidiary Guarantor ceases to be a Subsidiary; provided that, if so required
by this Agreement, the Required Lenders shall have consented to such transaction and the terms of
such consent

71

 

shall not have provided otherwise. In connection with any termination or release pursuant to this
Section, the Administrative Agent shall (and is hereby irrevocably authorized by each Lender to)
execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan
Party shall reasonably request to evidence such termination or release. Any execution and delivery
of documents pursuant to this Section shall be without recourse to or warranty by the
Administrative Agent.

          (b) Further, the Administrative Agent may (and is hereby irrevocably authorized by each Lender
to), upon the request of the Borrower, release any Subsidiary Guarantor from its obligations under
the Subsidiary Guaranty if such Subsidiary Guarantor is no longer a Material Domestic Subsidiary.

          (c) Further, the Administrative Agent may (and is hereby irrevocably authorized by each Lender
to), upon the request of the Borrower, release any Equity Interests of any Subsidiary that ceases
to be a Pledge Subsidiary.

          (d) At such time as the principal and interest on the Loans, all LC Disbursements, the fees,
expenses and other amounts payable under the Loan Documents and the other Obligations (other than
Banking Services Obligations, Swap Obligations, and other Obligations expressly stated to survive
such payment and termination) shall have been paid in full, the Commitments shall have been
terminated and no Letters of Credit shall be outstanding, the Subsidiary Guaranty and all
obligations (other than those expressly stated to survive such termination) of each Subsidiary
Guarantor thereunder shall automatically terminate, all without delivery of any instrument or
performance of any act by any Person.

ARTICLE X

Loan Guaranty

          SECTION 10.01. Guaranty. Holdings hereby agrees that it is jointly and severally liable for,
and, as primary obligor and not merely as surety, absolutely and unconditionally guarantees to the
Lenders the prompt payment when due, whether at stated maturity, upon acceleration or otherwise,
and at all times thereafter, of the Secured Obligations and all costs and expenses including,
without limitation, all court costs and attorneys’ and paralegals’ fees (including allocated costs
of in-house counsel and paralegals) and expenses paid or incurred by the Administrative Agent, the
Issuing Bank and the Lenders in endeavoring to collect all or any part of the Secured Obligations
from, or in prosecuting any action against, the Borrower, any Guarantor or any other guarantor of
all or any part of the Secured Obligations (such costs and expenses, together with the Secured
Obligations, collectively the “Guaranteed Obligations”). Holdings further agrees that the
Guaranteed Obligations may be extended or renewed in whole or in part without notice to or further
assent from it, and that it remains bound upon its guarantee notwithstanding any such extension or
renewal. All terms of this Loan Guaranty apply to and may be enforced by or on behalf of any
domestic or foreign branch or Affiliate of any Lender that extended any portion of the Guaranteed
Obligations.

          SECTION 10.02. Guaranty of Payment. This Loan Guaranty is a guaranty of payment and not of
collection. Holdings waives any right to require the Administrative Agent, the Issuing Bank or any
Lender to sue the Borrower, any other Guarantor or any other person obligated for all or any part
of the Guaranteed Obligations (each, an “Obligated Party”), or otherwise to enforce its payment
against any collateral securing all or any part of the Guaranteed Obligations.

          SECTION 10.03. No Discharge or Diminishment of Loan Guaranty. (a) Except as otherwise
provided for herein, the obligations of Holdings hereunder are unconditional and absolute
and not subject to any reduction, limitation, impairment or termination for any reason (other
than the indefeasible payment in full in cash of the Guaranteed Obligations), including: (i) any
claim of waiver,

72

 

release, extension, renewal, settlement, surrender, alteration, or compromise of any of the
Guaranteed Obligations, by operation of law or otherwise; (ii) any change in the corporate
existence, structure or ownership of the Borrower or any other guarantor of or other person liable
for any of the Guaranteed Obligations; (iii) any insolvency, bankruptcy, reorganization or other
similar proceeding affecting any Obligated Party, or their assets or any resulting release or
discharge of any obligation of any Obligated Party; or (iv) the existence of any claim, setoff or
other rights which Holdings may have at any time against any Obligated Party, the Administrative
Agent, the Issuing Bank, any Lender, or any other person, whether in connection herewith or in any
unrelated transactions.

          (b) The obligations of Holdings hereunder are not subject to any defense or setoff,
counterclaim, recoupment, or termination whatsoever by reason of the invalidity, illegality, or
unenforceability of any of the Guaranteed Obligations or otherwise, or any provision of
applicable law or regulation purporting to prohibit payment by any Obligated Party, of the
Guaranteed Obligations or any part thereof.

          (c) Further, the obligations of Holdings hereunder are not discharged or impaired or
otherwise affected by: (i) the failure of the Administrative Agent, the Issuing Bank or any
Lender to assert any claim or demand or to enforce any remedy with respect to all or any part of
the Guaranteed Obligations; (ii) any waiver or modification of or supplement to any provision of
any agreement relating to the Guaranteed Obligations; (iii) any release, non-perfection, or
invalidity of any indirect or direct security for the obligations of the Borrower for all or any
part of the Guaranteed Obligations or any obligations of any other guarantor of or other person
liable for any of the Guaranteed Obligations; (iv) any action or failure to act by the
Administrative Agent, the Issuing Bank or any Lender with respect to any collateral securing any
part of the Guaranteed Obligations; or (v) any default, failure or delay, willful or otherwise,
in the payment or performance of any of the Guaranteed Obligations, or any other circumstance,
act, omission or delay that might in any manner or to any extent vary the risk of Holdings or
that would otherwise operate as a discharge of Holdings as a matter of law or equity (other than
the indefeasible payment in full in cash of the Guaranteed Obligations).

          SECTION 10.04. Defenses Waived. To the fullest extent permitted by applicable law, Holdings
hereby waives any defense based on or arising out of any defense of the Borrower or Holdings or the
unenforceability of all or any part of the Guaranteed Obligations from any cause, or the cessation
from any cause of the liability of the Borrower or Holdings, other than the indefeasible payment in
full in cash of the Guaranteed Obligations. Without limiting the generality of the foregoing,
Holdings irrevocably waives acceptance hereof, presentment, demand, protest and, to the fullest
extent permitted by law, any notice not provided for herein, as well as any requirement that at any
time any action be taken by any person against any Obligated Party, or any other person. The
Administrative Agent may, at its election, foreclose on any Collateral held by it by one or more
judicial or nonjudicial sales, accept an assignment of any such Collateral in lieu of foreclosure
or otherwise act or fail to act with respect to any collateral securing all or a part of the
Guaranteed Obligations, compromise or adjust any part of the Guaranteed Obligations, make any other
accommodation with any Obligated Party or exercise any other right or remedy available to it
against any Obligated Party, without affecting or impairing in any way the liability of Holdings
under this Loan Guaranty except to the extent the Guaranteed Obligations have been fully and
indefeasibly paid in cash. To the fullest extent permitted by applicable law, Holdings waives any
defense arising out of any such election even though that election may operate, pursuant to
applicable law, to impair or extinguish any right of reimbursement or subrogation or other right or
remedy of Holdings against any Obligated Party or any security.

          SECTION 10.05. Rights of Subrogation. Holdings will not assert any right, claim or cause of
action, including, without limitation, a claim of subrogation, contribution or indemnification that

73

 

it has against any Obligated Party, or any collateral, until the Loan Parties have fully performed
all their obligations to the Administrative Agent, the Issuing Bank and the Lenders.

          SECTION 10.06. Reinstatement; Stay of Acceleration. If at any time any payment of any portion
of the Guaranteed Obligations is rescinded or must otherwise be restored or returned upon the
insolvency, bankruptcy, or reorganization of the Borrower or otherwise, Holdings’ obligations under
this Loan Guaranty with respect to that payment shall be reinstated at such time as though the
payment had not been made and whether or not the Administrative Agent, the Issuing Bank and the
Lenders are in possession of this Loan Guaranty. If acceleration of the time for payment of any of
the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of the
Borrower, all such amounts otherwise subject to acceleration under the terms of any agreement
relating to the Guaranteed Obligations shall nonetheless be payable by Holdings forthwith on demand
by the Lender.

          SECTION 10.07. Information. Holdings assumes all responsibility for being and keeping itself
informed of the Borrower’s financial condition and assets, and of all other circumstances bearing
upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the
risks that Holdings assumes and incurs under this Loan Guaranty, and agrees that neither the
Administrative Agent, the Issuing Bank nor any Lender shall have any duty to advise Holdings of
information known to it regarding those circumstances or risks.

          SECTION 10.08. Maximum Liability. The provisions of this Loan Guaranty are severable, and in
any action or proceeding involving any state corporate law, or any state, federal or foreign
bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if
the obligations of Holdings under this Loan Guaranty would otherwise be held or determined to be
avoidable, invalid or unenforceable on account of the amount of Holdings’ liability under this Loan
Guaranty, then, notwithstanding any other provision of this Loan Guaranty to the contrary, the
amount of such liability shall, without any further action by Holdings or the Lenders, be
automatically limited and reduced to the highest amount that is valid and enforceable as determined
in such action or proceeding (such highest amount determined hereunder being Holdings’ “Maximum
Liability”. This Section with respect to the Maximum Liability of Holdings is intended solely to
preserve the rights of the Lenders to the maximum extent not subject to avoidance under applicable
law, and neither Holdings nor any other person or entity shall have any right or claim under this
Section with respect to such Maximum Liability, except to the extent necessary so that the
obligations of Holdings hereunder shall not be rendered voidable under applicable law. Holdings
agrees that the Guaranteed Obligations may at any time and from time to time exceed the Maximum
Liability of Holdings without impairing this Loan Guaranty or affecting the rights and remedies of
the Lenders hereunder; provided that, nothing in this sentence shall be construed to increase
Holdings’ obligations hereunder beyond its Maximum Liability.

          SECTION 10.09. Liability Cumulative. The liability of Holdings under this Article X is in
addition to and shall be cumulative with all liabilities of Holdings to the Administrative Agent,
the Issuing Bank and the Lenders under this Agreement and the other Loan Documents to which
Holdings is a party or in respect of any obligations or liabilities of the other Loan Parties,
without any limitation as to amount, unless the instrument or agreement evidencing or creating such
other liability specifically provides to the contrary.

[Signature Pages Follow]

74

 

          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.

	 	 	 	 	 
	 	AMERICAN MEDICAL SYSTEMS, INC., 

as the Borrower

 	 
	 	By:  	/s/ Mark A. Heggestad
 	 
	 	 	Name:  	Mark A. Heggestad 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 	 
	 
	 	AMERICAN MEDICAL SYSTEMS HOLDINGS, INC., 

as Holdings

 	 
	 	By:  	/s/ Mark A. Heggestad
 	 
	 	 	Name:  	Mark A. Heggestad 	 
	 	 	Title:  	Executive Vice President and

Chief Financial Officer 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., individually as a

Lender, as the Swingline Lender, as the Issuing Bank and

as Administrative Agent

 	 
	 	By:  	/s/ Krys Szremski
 	 
	 	 	Name:  	Krys Szremski 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

	 	 	 	 	 
	 	PNC BANK, NATIONAL ASSOCIATION, individually 

as Lender and as Syndication Agent

 	 
	 	By:  	/s/ Michael Leong
 	 
	 	 	Name:  	Michael Leong 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, individually 

as Lender and as Documentation Agent

 	 
	 	By:  	/s/ Daniel Miller
 	 
	 	 	Name:  	Daniel Miller 	 
	 	 	Title:  	Assistant Vice President 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

	 	 	 	 	 
	 	CITIBANK, N.A, as a Lender

 	 
	 	By:  	/s/ Gregory Wojdalski
 	 
	 	 	Name:  	Gregory Wojdalski 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a Lender

 	 
	 	By:  	/s/ Sophia Love
 	 
	 	 	Name:  	Sophia Love 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

	 	 	 	 	 
	 	FIFTH THIRD BANK, as a Lender

 	 
	 	By:  	/s/ Joshua N. Livingston
 	 
	 	 	Name:  	Joshua N. Livingston 	 
	 	 	Title:  	Assistant Vice President 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

	 	 	 	 	 
	 	HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Graeme Robertson
 	 
	 	 	Name:  	Graeme Robertson 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

	 	 	 	 	 
	 	GOLDMAN SACHS BANK USA, as a Lender

 	 
	 	By:  	/s/ Mark Walton
 	 
	 	 	Name:  	Mark Walton 	 
	 	 	Title:  	Authorized Signatory 	 
	 

Signature Page to Credit Agreement

American Medical Systems, Inc.

 

 

SCHEDULE 2.01

COMMITMENTS

	 	 	 	 	 
	LENDER	 	COMMITMENT	 
	JPMORGAN CHASE BANK, N.A.
	 	$	50,000,000	 
	 
	 	 	 	 
	PNC BANK, NATIONAL ASSOCIATION
	 	$	50,000,000	 
	 
	 	 	 	 
	U.S. BANK NATIONAL ASSOCIATION
	 	$	40,000,000	 
	 
	 	 	 	 
	CITIBANK, N.A.
	 	$	35,000,000	 
	 
	 	 	 	 
	BANK OF AMERICA, N.A.
	 	$	25,000,000	 
	 
	 	 	 	 
	FIFTH THIRD BANK
	 	$	20,000,000	 
	 
	 	 	 	 
	HSBC BANK USA, NATIONAL ASSOCIATION
	 	$	20,000,000	 
	 
	 	 	 	 
	GOLDMAN SACHS BANK USA
	 	$	10,000,000	 
	 
	 	 	 	 
	AGGREGATE COMMITMENT
	 	$	250,000,000	 

 

 

Schedule 3.01 Organization: Powers Subsidiaries*

Domestic Subsidiaries

American Medical Systems Holdings, Inc.

Publicly Held Corporation

Delaware

Guarantor

American Medical Systems, Inc

Delaware

Borrower

100% of Stock owned by American Medical Systems Holdings, Inc.

AMS Research Corporation

Delaware

Material Domestic Subsidiary

AMS Sales Corporation

Delaware

Material Domestic Subsidiary

Laserscope

California

Material Domestic Subsidiary

Laserscope International, Inc.

100% of Stock owned by Laserscope

AMS India, Inc.

Delaware

100% of Common Stock owned by AMS Sales Corporation

InnovaQuartz Incorporated

Arizona

100% of Stock owned by Laserscope

Solarant Medical

Inc. Delaware

TherMatrx, Inc.

Delaware

 

			
	*	 	Unless otherwise noted, all stock is owned 100% by American Medical Systems, Inc.

 

 

Schedule 3.01 Organization: Powers: Subsidiaries*

International Subsidiaries

American Medical Systems Australia Pty Ltd

Corporation

Organized Under the Laws of: Australia

AMS Bermuda ULC

Organized Under the Laws of: Bermuda

AMS Medical Technologies ULC

Shareholders: American Medical Systems, Inc. 99%

          AMS Bermuda ULC 1%

Organized Under the Laws of: Ireland

AMS Medical Systems Ireland Limited

Shareholder: AMS Medical Technologies ULC

Organized Under the Laws of: Ireland

AMS-American Medical Systems do Brasil Produtos Urologicos e Ginecologicos Ltda

Shareholders: American Medical Systems, Inc. 99%

           American Medical Systems Canada, Inc. 1%

Organized Under the Laws of: Brazil

American Medical Systems Canada Inc.

Organized Under the Laws of: Canada

American Medical Systems Luxembourg S.à r.l.

Organized Under the Laws of: Luxembourg

American Medical Systems Benelux BVBA

Shareholder: American Medical Systems Luxembourg S.à r.l.

Organized Under the Laws of: Belgium

American Medical Systems Europe B.V.

Shareholder: American Medical Systems Luxembourg S.à r.l.

Organized Under the Laws of: The Netherlands

American Medical Systems Deutschland GmbH

Shareholder: American Medical Systems Europe B.V.

Organized Under the Laws of: Germany

American Medical Systems France S.A.S.

Shareholder: American Medical Systems Luxembourg S.à r.l.

Organized Under the Laws of: France

American Medical Systems Iberica S.L.

Shareholder: American Medical Systems Luxembourg S.à r.l.

Organized Under the Laws of: Spain

 

 

AMS Japan, Inc.

Shareholder: AMS Sales Corporation

Organized Under the Laws of: Japan

AMS Sverige AB

Shareholder: American Medical Systems Luxembourg S.à r.l.

Organized Under the Laws of: Sweden

American Medical Systems UK Ltd.

Shareholder: American Medical Systems Luxembourg S.à r.l.

Organized Under the Laws of: The United Kingdom

As of the date of the Credit Agreement, there are no Material Foreign Subsidiaries.

 

			
	*	 	Unless otherwise noted, all stock is owned 100% by American Medical Systems, Inc.

 

 

Schedule 6.01 Existing Indebtedness

$250,000,000 — 3.25% Convertible Senior Subordinated Notes due 2036

$61,985,000 — 4.00% Convertible Senior Subordinated Notes due 2041

 

 

Schedule 6.02 Existing Liens

AMERICAN MEDICAL SYSTEMS HOLDINGS, INC.

Uniform Commercial Code Filings

	 	 	 	 	 	 	 	 	 
	 	 	Original Filing	 	Original Filing	 	 	 	 
	Secured Party	 	Number	 	Date	 	State of Filing	 	Collateral
	Marlin Leasing
Corp.

	 	2007 1918811
	 	5/22/2007
	 	Delaware
	 	True Lease

AMERICAN MEDICAL SYSTEMS, INC.

Uniform Commercial Code Filings

	 	 	 	 	 	 	 	 	 
	 	 	Original Filing	 	Original Filing	 	State of	 	 
	Secured Party	 	Number	 	Date	 	Filing	 	Collateral
	IOS Capital

	 	2007 1918431
	 	5/22/2007
	 	Delaware
	 	True Lease
	 
	 	 	 	 	 	 	 	 
	General Electric 

Capital Corporation

	 	2007 3784179
	 	10/8/2007
	 	Delaware
	 	Specific 
Equipment
	 
	 	 	 	 	 	 	 	 
	General Electric 

Capital Corporation

	 	2007 3784187
	 	10/8/2007
	 	Delaware
	 	Specific
 Equipment
	 
	 	 	 	 	 	 	 	 
	General Electric 

Capital Corporation

	 	2007 4922869
	 	12/31/2007
	 	Delaware
	 	True Lease
	 
	 	 	 	 	 	 	 	 
	Canon Financial 

Services

	 	2010 0008544
	 	1/4/2010
	 	Delaware
	 	True Lease
	 
	 	 	 	 	 	 	 	 
	CooperSurgical, Inc.

	 	2010 0627558
	 	2/24/2010
	 	Delaware
	 	Specific
 Inventory 
and Equipment
	 
	 	 	 	 	 	 	 	 
	US Bancorp

	 	2010 1496821
	 	4/29/2010
	 	Delaware
	 	Specific Equipment

 

 

LASERSCOPE

Uniform Commercial Code Filings

	 	 	 	 	 	 	 	 	 
	 	 	Original Filing	 	Original Filing	 	 	 	 
	Secured Party	 	Number	 	Date	 	State of Filing	 	Collateral
	Citicorp Vendor
Finance, Inc.

	 	05-7038658981
	 	8/23/2005
	 	California
	 	Specific Equipment
	 
	 	 	 	 	 	 	 	 
	Dell Financial
Services L.P.

	 	06-7071401652
	 	5/24/2006
	 	California
	 	True Lease
	 
	 	 	 	 	 	 	 	 
	CIT Technology
Financing
Services, Inc.

	 	06-7076931807
	 	7/10/2006
	 	California
	 	True Lease

Tax Liens

	 	 	 	 	 	 	 	 	 
	 	 	Original Filing	 	 	 	 
	Secured Party	 	Number	 	Original Filing Date	 	State of Filing
	County of Santa Clara

	 	 	15547742	 	 	2/2/2001
	 	California

Judgment Liens

	 	 	 	 	 	 	 
	 	 	Original Filing	 	 	 	 
	Secured Party	 	Number	 	Original Filing Date	 	State of Filing
	Benjamin Del Vecchio
et. al.

	 	Case No. 1:06-cv-
065047
	 	3/1/2007
	 	California

 

 

EXHIBIT A

ASSIGNMENT AND ASSUMPTION

          This Assignment and Assumption (the “Assignment and Assumption”) is dated as
of the Effective Date set forth below and is entered into by and between [Insert name of Assignor]
(the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms
used but not defined herein shall have the meanings given to them in the Credit Agreement
identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby
acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached
hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment
and Assumption as if set forth herein in full.

          For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other
documents or instruments delivered pursuant thereto to the extent related to the amount and
percentage interest identified below of all of such outstanding rights and obligations of the
Assignor under the respective facilities identified below (including any letters of credit,
guarantees, and swingline loans included in such facilities) and (ii) to the extent permitted to be
assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all
other claims at law or in equity related to the rights and obligations sold and assigned pursuant
to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii)
above being referred to herein collectively as the “Assigned Interest”). Such sale and
assignment is without recourse to the Assignor and, except as expressly provided in this Assignment
and Assumption, without representation or warranty by the Assignor.

	 	 	 	 	 

	1.

	 	Assignor:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	2.

	 	Assignee:	 	 
	 

	 	 	 	 
	 

	 	 	 	[and is an Affiliate/Approved Fund of [identify Lender]1]
	 
	 	 	 	 
	3.

	 	Borrower(s):
	 	American Medical Systems, Inc.
	 
	 	 	 	 
	4.

	 	Administrative Agent:
	 	JPMorgan Chase Bank, N.A., as the administrative agent under the
Credit Agreement
	 
	 	 	 	 
	5.

	 	Credit Agreement:
	 	The Credit Agreement dated as of April 15, 2011 among American
Medical Systems, Inc., American Medical Systems Holdings, Inc., the
Lenders parties thereto, JPMorgan Chase Bank, N.A., as Administrative
Agent, and the other agents parties thereto
	 
	 	 	 	 
	6.

	 	Assigned Interest:	 	 

 

			
	1	 	Select as applicable.

 

 

	 	 	 	 	 
	Aggregate Amount of	 	 	 	 
	Commitment/Loans for	 	Amount of Commitment/	 	Percentage Assigned of
	all Lenders	 	Loans Assigned	 	Commitment/Loans2
	$
	 	$	 	%
	$
	 	$	 	%
	$
	 	$	 	%

Effective Date: ________________, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL
BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

The terms set forth in this Assignment and Assumption are hereby agreed to:

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

Consented to and Accepted:

	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A., as 

Administrative Agent and Issuing Bank

 	 
	By:  	 	 
	 	Title: 	 
	 
	[Consented to:]3

AMERICAN MEDICAL SYSTEMS, INC.

 	 
	By:  	 	 
	 	Title: 	 
	 

 

			
	2	 	Set forth, so at least 9 decimals, as a percentage of the Commitment/Loans of
all Lenders thereunder.
	 
	3	 	To be added only if the consent of the Borrower is required by the terms of the Credit
Agreement.

2

 

ANNEX I

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

          1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Loan Document.

          1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement
that are required to be satisfied by it in order to acquire the Assigned Interest and become a
Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the
obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together
with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as
applicable, and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Assignment and Assumption and to purchase the
Assigned Interest on the basis of which it has made such analysis and decision independently and
without reliance on the Administrative Agent or any other Lender, and (v) if it is a Non-U.S.
Lender, attached to the Assignment and Assumption is any documentation required to be delivered by
it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and
(b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the
Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a
Lender.

          2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees
and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date.

          3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by telecopy shall be effective as delivery of a manually executed
counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by,
and construed in accordance with, the law of the State of New York.

 

 

EXHIBIT B-1

OPINION OF MINNESOTA COUNSEL FOR THE LOAN PARTIES

[Attached]

 

 

	 	 	 	 	 

	 

	 	P 612.672.8200
	 	3300 Wells Fargo Center
	 

	 	F 612.672.8397
	 	90
South Seventh Street
	 

	 	 	 	Minneapolis,
Minnesota
	 

	 	www.maslon.com
	 	55402-4140

April 15, 2011

To JPMORGAN CHASE BANK, N.A.,

as Administrative Agent and the Lenders identified below:

Ladies and Gentlemen:

We have acted as special counsel to AMERICAN MEDICAL SYSTEMS, INC., a Delaware
corporation (the “Borrower”), and each of AMERICAN MEDICAL SYSTEMS HOLDINGS, INC., a
Delaware corporation (“Holdings”), AMS SALES CORPORATION, a Delaware corporation
(“AMS Sales”), AMS RESEARCH CORPORATION, a Delaware corporation (“AMS
Research”) and LASERSCOPE, a California corporation (“Laserscope” and together
with Holdings, AMS Sales, and AMS Research, collectively, the “Guarantors” and each
individually, a “Guarantor”), in connection with the Credit Agreement dated as of
April 15,2011 (the “Credit Agreement”), among the Borrower, Holdings, the other
Persons party thereto that are designated as a “Credit Party”, the lending institutions party
thereto as Lenders (each a “Lender” and, collectively, the “Lenders”) and
JPMORGAN CHASE BANK, N.A., as Administrative Agent for the Secured Parties (in such capacity,
the “Agent”). The Borrower and the Guarantors are referred to herein individually as a
“Loan Party” and collectively as the “Loan Parties”. This opinion is being
delivered at the request of the Borrower pursuant to Section 4.01(b) of the Credit Agreement.
Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to them in the Credit Agreement.

As such counsel and for purposes of our opinions set forth below, we have examined originals
or copies, certified or otherwise identified to our satisfaction, of following documents
(collectively, the “Transaction Documents”):

	 	(i)	 	the Credit Agreement;
	 
	 	(ii)	 	the Notes of even date herewith (the “Notes”) by the Borrower in
favor of the Lenders;
	 
	 	(iii)	 	that certain Pledge and Security Agreement of even date herewith (the
“Security Agreement”) by and between the Loan Parties and the Agent;
	 
	 	(iv)	 	that certain Mortgage, Security Agreement, Fixture Financing Statement and
Assignment of Leases and Rents of even date herewith (the “Mortgage”)
executed by the Borrower, as mortgagor, in favor of the Agent, as mortgagee;

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	
	as Administrative Agent	 	 
	April 15,2011	 	 
	Page 2
	 	 

	 	(v)	 	that certain Guaranty of even date herewith (the “Guaranty”) by and
between the Loan Parties (other than the Borrower and Holdings) and the Agent);
	 
	 	(vi)	 	unfiled copies of Uniform Commercial Code financing statements
(collectively, the “Delaware Financing Statements”) naming each of the
Borrower, Holdings, AMS Sales, and AMS Research, respectively, as debtor and the
Agent as secured party, to be filed in the office of the Secretary of State of
the State of Delaware (the “Delaware Filing Office”);
	 
	 	(vii)	 	the certificate of formation of each Loan Party (excluding Laserscope),
each certified by the Secretary of State of the State of Delaware as of the date
set forth on Schedule I attached hereto, and the Bylaws of each Borrower
as certified by an officer of such Loan Party as of the date hereof
(collectively, the “Charter Documents”);
	 
	 	(viii)	 	certificates of the Secretary of State of the State of Delaware as to the
formation and good standing of each Loan Party (excluding Laserscope) under the
laws of the State of Delaware as of the date set forth opposite such Loan
Party’s name on Schedule I attached hereto (the “Domestic Good
Standing Certificates”);
	 
	 	(ix)	 	Resolutions adopted by the Board of Directors of each Loan Party (excluding
Laserscope) authorizing, among other things, the execution and delivery of, and
the performance by such Loan Party of its obligations under, the Loan Documents
(as defined below) to which it is a party, in each case certified by an officer
of the respective Loan Party;
	 
	 	(x)	 	good standing certificates of the Minnesota Secretary of State with regard
to each Loan Party (excluding Laserscope) as of the date set forth opposite such
Loan Party’s name on Schedule II attached hereto (the “Foreign Good
Standing Certificates”);
	 
	 	(xi)	 	copies of the certificates representing shares pledged by each Loan Party
(excluding Laserscope) pursuant to the Security Agreement (such shares being
identified on Schedule III attached hereto and referred to as the
“Pledged Shares”);
	 
	 	(xii)	 	copies of the agreements and instruments identified on Schedule IV
attached hereto (the “Material Agreements”); and

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	
	as Administrative Agent	 	 
	April 15, 2011	 	 
	Page 3
	 	 

	 	(xiii)	 	certificates of officers and other representatives of each of the Loan
Parties certifying the incumbency, authority and true signatures of the officers
or representatives of each of such Loan Parties authorized to sign the Loan
Documents to which such Loan Party is a party and the certificates and other
documents and instruments being delivered by such Loan Party pursuant to such
Loan Documents and certifying as to other factual matters.

The Credit Agreement, the Notes, the Security Agreement, the Mortgage are referred to herein,
individually, as a “Loan Document” and, collectively, as the “Loan Documents”.
As used herein, “Collateral” means, collectively, “Collateral” as defined in the
Security Agreement.

In addition, we have made such investigations of law as we have deemed relevant and necessary
as a basis for the opinions expressed below.

In such examination and in rendering the opinions expressed below, we have assumed: (i)
the due authorization, execution and delivery of each Loan Document, and each other document
referred to above by all of the parties thereto (other than the due authorization, execution
and delivery of the Loan Documents by the Loan Parties (excluding
Laserscope)); (ii) the
genuineness of all signatures on all documents submitted to us; (iii) the authenticity and
completeness of all documents, corporate records, certificates and other instruments reviewed
by us; (iv) that photocopy, electronic, certified, conformed, facsimile and other copies of
original documents, corporate records, certificates and other instruments reviewed by us
conform to such original documents, records, certificates and other instruments; (v) the legal
capacity of all individuals executing documents; (vi) that the Loan Documents are the valid and
binding obligations of each of the parties thereto under New York law (except as otherwise set
forth in Opinion 7 below with respect to the Mortgage), enforceable against such parties under
New York law in accordance with their respective terms and have not been amended or terminated
orally or in writing except as disclosed to us; (vii) that the factual statements contained in
the certificates and comparable documents of public officials, officers and representatives of
the Loan Parties and other Persons on which we have relied for the purposes of this opinion
(including, without limitation, the Good Standing Certificates and the Foreign Good Standing
Certificates) are true and correct on and as of the date hereof; (viii) that the rights and
remedies set forth in the Loan Documents will be exercised reasonably, in good faith and in
compliance with applicable law and were granted without fraud or duress and for good, valuable
and adequate consideration and without intent to hinder, delay or defeat any rights of any
creditors or stockholders of, or other holders of equity interests in, any of the Loan Parties;
(ix) the Credit Parties under the Loan Documents have given legal and valid consideration to
the Loan Parties in exchange for execution of the Loan Documents, including the granting of all
Liens thereunder; and (x) there are no oral or written modifications of or amendments to any of
the Loan Documents and that there has been no waiver of any of the provisions of the Loan
Documents by action of the parties

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	 
	as Administrative Agent	 	 
	April 15, 2011	 	 
	Page 4
	 	

or otherwise (other than any closing conditions that may be waived by Agent or the
Lenders), and that the Loan Documents accurately reflect the complete understanding of the
parties thereunder. As to all questions of fact material to this opinion, we have relied
(without independent investigation, except as expressly indicated herein) upon certificates or
comparable documents of officers and representatives of the Loan Parties and upon the
representations and warranties of the Loan Parties contained in the Loan Documents, including
the Credit Agreement, and have made no other investigations.

Statements
in this opinion which are qualified by the expression “to our knowledge”, “of
which we have knowledge”, “known to us” or “we have no reason to believe” or other expressions
of like import are limited solely to the current actual knowledge of Joseph Alexander, Mark A.
Klos, William P. Laramy, Karen B. Bjorkman and Brian J. Klein (collectively, the “Opinion
Attorneys”), who are the attorneys in this Firm who have devoted substantive attention to
the representation of the Loan Parties in connection with the preparation, negotiation,
execution and delivery of the Loan Documents (and expressly exclude the knowledge of any other
person in this Firm and any constructive or imputed knowledge of any information, whether by
reason of our representation of the Credit Parties or otherwise). We have not undertaken any
independent investigation to determine the accuracy of any such statement, and any limited
inquiry undertaken by us during the preparation of this opinion should not be regarded as such
an investigation.

Based upon the foregoing, and in reliance thereon, and subject to the limitations,
qualifications and exceptions set forth herein, we are of the following opinion:

          1. Based solely on a review of the Domestic Good Standing Certificates, each Loan Party
(excluding Laserscope) is a validly existing corporation in good standing under the laws of
the State of Delaware, and has the corporate power and authority to enter into and carry out
its obligations under the Loan Documents to which it is a party.

          2. Based solely on a review of the Foreign Good Standing Certificates, we confirm that
each Loan Party is in good standing as a foreign corporation in the States set forth opposite
its name on Schedule II attached hereto, as of the respective dates of the Foreign
Good Standing Certificates.

          3. Each Loan Party (excluding Laserscope) has (a) taken, all necessary corporate action
on its part to be taken by it in order to authorize the execution, delivery and performance of
the Loan Documents to which it is a party, and (b) duly executed and delivered each of the
Loan Documents to which it is a party.

          4. The execution and delivery by each Loan Party of the Loan Documents to which it is a
party and the incurring and repayment by Borrower of the borrowings under the Credit
Agreement, the guaranteeing by each other Loan Party of such borrowings pursuant to the

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	 
	as Administrative Agent	 	 
	April 15, 2011	 	 
	Page 5
	 	

Loan Documents to which it is a party, and the granting of the Liens granted by such Loan
Party under the Loan Documents to which it is a party do not (i) cause such Loan Party to
violate any Applicable Laws (as hereinafter defined), (ii) cause such Loan Party to violate any
order, judgment or decree of any Minnesota state court or governmental body or authority which
by its terms names and is applicable to such Loan Party and which is known to us, (iii) in the
case of each Loan Party (other than Laserscope), violate any provision of the Charter Documents
of such Loan Party, (iv) violate or result in a default under any Material Agreement, or give
rise to a right thereunder to require any payment to be made by any Loan Party or any of its
Subsidiaries, or (v) will result under any Material Agreement in the creation or imposition of
any Lien on any asset of any Loan Party or any of its Subsidiaries.

          5. No consent, approval or authorization of, or filing with, any Minnesota State
governmental body or authority, which has not already been obtained or done, is required to be
obtained or made by the Loan Parties to authorize, or otherwise in connection with, the
execution and delivery of the Loan Documents by the Loan Parties which are parties thereto and
the incurring and repayment by the Borrower of the borrowings under the Credit Agreement, the
guaranteeing by each other Loan Party of such borrowings pursuant to the Loan Documents, and
the granting of the Liens granted by the Loan Parties under the Loan Documents, other than such
filings or recordings as may be necessary to perfect the Liens in favor of the Agent created by
the Mortgage.

          6. To the extent governed by Minnesota State law, the Mortgage is the valid and binding
obligation of Borrower, enforceable against Borrower in accordance with its respective terms.

          7. The Mortgage is in proper form for recording and upon its due recordation by the Agent
with the Hennepin County, Minnesota Recorder’s office and the Hennepin County, Minnesota
Registrar’s office, together with the payment of all applicable mortgage registration tax
pursuant to Minn. Stat. §287.01, et seq., will create a perfected mortgage lien and assignment
of rents on the “Mortgaged Property” described therein to the extent the same constitutes real
property or is a fixture to such real property and is located in Hennepin County, Minnesota. We
further inform you that based upon the Uniform Commercial Code as in effect in the State of
Minnesota (the “Minnesota UCC”), that with respect to the Borrower (and with the
exception of fixtures located in Hennepin County, Minnesota) the proper place to file such
financing statements to perfect the security interest in any personal property under the
Mortgage, to the extent the same is capable of being perfected by filing under the Minnesota
UCC, is with the appropriate filing office of the state in which the Borrower is organized, i.e
the State of Delaware.

          8. (a) To the extent governed by the Uniform Commercial Code as in effect in the State of
Delaware (the “Delaware UCC”), the Security Agreement creates in favor of

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	 
	as Administrative Agent	 	 
	April 15, 2011	 	 
	Page 6
	 	

the Agent, for the benefit of the Secured Parties, valid security interests in the rights of
each Loan Party (excluding Laserscope) that is a party thereto in such of the Collateral
described in the Security Agreement in which security interests can be created under Article 9
of the Delaware UCC (collectively, the “Article 9 Collateral”).

               (b) The delivery to the Agent in the State of Minnesota of all original physical security
certificates representing the Securities described on Schedule III attached hereto
(the “Pledged Shares”), accompanied by stock powers duly indorsed to the Agent or in
blank and duly executed by or on behalf of the Loan Parties that are the “Holders” thereof (as
identified on such Schedule III), will create in favor of the Agent, for the benefit of the
Lenders, a perfected security interest (as granted under the Security Agreement) in the
Pledged Shares under and to the extent governed by Article 9 of either the Delaware UCC or the
Minnesota UCC or with respect to the Pledged Shares issued by
InnovaQuartz Incorporated, under
either the Minnesota UCC or the Uniform Commercial Code as adopted in the State of Arizona
(the “Arizona UCC”).

               (c) The Delaware Financing Statements are in appropriate form for filing in the Delaware
Filing Office. Upon the filing of the Delaware Financing Statements in the Delaware Filing
Office, the security interest of the Agent in the rights of each Loan Party that is named as
debtor in the respective Delaware Financing Statement in the Article 9 Collateral
described in the Delaware Financing Statements will be perfected
under the Delaware UCC, to
the extent that a security interest in such Article 9 Collateral can be perfected
by the filing of a financing statement in the Delaware Filing Office
under the Delaware UCC.

          9. Pursuant to Minnesota Statutes Section 334.01, subdivision 2, we inform you that no
limitation on the rate or amount of interest, points, finance charges, fees, or other charges
applies to a loan, mortgage, credit sale, or advance made under a written contract, signed by
the debtor, for the extension of credit to the debtor in the amount of $100,000 or more,
except as limited by Minnesota Statutes Section 58.137 with respect to certain residential
mortgage transactions, and Minnesota Statutes Section 47.20, subdivision 4a, with respect to
contracts for deed.

          10. The making of the borrowings under the Credit Agreement, and the application of the
proceeds thereof as provided in the Credit Agreement do not violate
Regulation U or X
of the Board of Governors of the Federal Reserve System provided that the Borrower does
not use such proceeds for the purchase of margin stock or other securities subject to such
Regulations.

          11. None of the Loan Parties is an “investment company” as defined in, or subject
to regulation under, the Investment Company Act of 1940.

The foregoing opinions are subject to the following exceptions, qualifications and
limitations:

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	 
	as Administrative Agent	 	 
	April 15, 2011	 	 
	Page 7
	 	

          (i) The opinions expressed herein are subject to and limited by (a) bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium or other similar laws now or
hereinafter in effect relating to or affecting creditors’ rights generally, including without
limitation, the invalidation under the Federal Bankruptcy Code of any provisions in the
Transaction Documents making bankruptcy an event of default or requiring the obligations of the
Borrower Parties to survive bankruptcy, (b) general principles of equity and the discretion of
courts with respect thereto, including, without limitation, concepts of materiality,
reasonableness, good faith and fair dealing (regardless of whether such enforceability is
considered in a proceeding in equity or at law), and (c) the failure by any Credit Party or the
Agent to comply with Minn. Stat. Sections 290.371, which provides, among other things, that any
entity that is required to have filed a Notice of Business Activities Report with the Minnesota
Secretary of State because of a level of its business activities in the State of Minnesota and
which has not filed such report when required, may not use the Minnesota courts to prosecute
any cause of action.

          (ii) certain rights and remedies under the Security Agreement and the Mortgage may be
restricted or unenforceable under and to the extent governed by the Applicable Laws (as
hereinafter defined) and judicial decisions in the Applicable Jurisdictions (as hereinafter
defined), including limitations resulting from the effect of public policy considerations. The
inclusion of such provisions in the Security Agreement and the Mortgage, and the application of
such laws and judicial decisions, however, do not render such Loan Documents invalid as a
whole, and there exist in such Loan Documents or pursuant to applicable law, adequate
enforceable remedies for realization of the principal benefit and/or security intended to be
provided such agreements; although the enforceability of certain remedies, rights and waivers
authorized or contained in the Security Agreement and the Mortgage may be limited or delayed by
the above (we note, for example that any provisions of such agreements which purport to provide
for certain remedies such as immediate possession, waiver of redemption, waiver of moratoriums,
waiver of statutes of limitation, immediate acceleration without reinstatement, self-help,
right to collect proceeds, right to acquire title to property, right to convey title to the
property and so forth are unenforceable except in accordance with the Applicable Laws).

          (iii) As to the Opinions addressed herein, this letter represents our opinion as to how
such matters or issues would be resolved were it to be considered by the highest court of the
jurisdiction upon whose law our opinion on that issue is based. The result in any actual court
case will depend in part on facts and circumstances particular to the case, and this letter is
not intended to guarantee such result or the outcome of any dispute which may arise in the
future.

          (iv) The opinions herein are further limited by the following: (a) the holding in King (In
re), 68 B.R. 569 (Bankr. D. Minn. 1986) in which the court determined that certain interest
charged to a corporate debtor was usurious under Minnesota law, notwithstanding that such laws
did not apply to corporations, where the corporation was created on the same day the loan was
made, was never funded, never had any assets, and never became operative subsequent to the
loan,

 

 

			
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	as Administrative Agent	 	 
	April 15,2011	 	 
	Page 8
	 	

and (b) limitations on a lender’s ability to exercise remedies or impose charges or
penalties for prepayments or late payments or other defaults by a borrower if it is determined
that the defaults are not material, such penalties bear no reasonable relationship to the
damage suffered by the lender as a result of such prepayment, delinquencies or defaults, or
constitute liquidated damages that are an unenforceable penalty or it cannot be demonstrated
that the enforcement of such restrictions or burdens are reasonably necessary for the
protection of the lender.

          (v) Your rights under the Mortgage to accelerate payment of the indebtedness secured by
such mortgage may be restricted by the provisions of Minn. Stat. § 580.30 which provides that
in any proceedings for the foreclosure of a real estate mortgage if at any time before the
sale of the Mortgaged Property under such foreclosure the mortgagor, the owner, or any holder
of any subsequent encumbrance or lien, or any one for them, shall pay or cause to be paid to
the holder of the mortgage so being foreclosed the amount actually due thereon and
constituting the default actually existing at the time of the commencement of the foreclosure
proceedings, together with other lawful disbursements necessarily incurred in connection with
the proceedings by the party foreclosing, then, and in that event, the mortgage shall be fully
reinstated and further proceedings in such foreclosure shall be thereupon abandoned.

          (vi) The Mortgage and your rights thereunder are subject to the provisions of (a) Minn.
Stat. § 576, et. seq. regarding the appointment of receivers and the possession,
management and disposition of property by a duly appointed receiver, (b) Minn. Stat. §
580, et. seq. regarding the foreclosure by advertisement of real estate mortgages
containing a power of sale, (c) Minn. Stat. § 581, et. seq. regarding the foreclosure by action
of real estate mortgages, and (d) Minn. Stat. § 582, et. seq., which provides limitations on
the rights of a mortgagee generally in the State including, but not limited to, the collection
of attorney’s fees, the limited right of entry, and the appointment of a receiver.

          (vii) Notwithstanding certain language contained in the Transaction Documents, the
recovery of attorneys’ fees and expenses may be limited to the recovery of only reasonable
expenses or attorneys’ fees and legal expenses with respect to the retaking, holding,
preparing for sale, selling, pledging, hypothecating, or otherwise transferring of any
Mortgaged Property. We note that legal fees chargeable for foreclosure proceedings are limited
by Minn. Stat. § 582, et. seq.

          (viii) Minn. Stat. §§ 580 and 581, et. seq. grants to mortgagors the non-waiveable rights
(a) to cure defaults under the Mortgage and related Transaction Documents and reinstate either
the Mortgage within such time periods as set forth in the statutes, and (b) to redeem the real
property sold at foreclosure within a specified time period after such foreclosure sale, upon
payment of amounts as set in the statutes.

 

 

			
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	April 15,2011	 	 
	Page 9
	 	

          (ix) Our opinions set forth in Opinions 7 and 8 above to the extent relating to matters
governed by the Uniform Commercial Code are subject to the following additional exceptions,
qualifications and limitations:

     1. We express no opinion with respect to (a) any law other than Article 9 and, to
the extent applicable, Article 8 of the Uniform Commercial Code as in effect in the
States of Arizona, Minnesota and Delaware (each such Uniform Commercial Code being
referred to as a “Applicable UCC” and each such State being referred to as
a “Applicable Jurisdiction”), or (b) the effect on the opinions expressed in Opinions 7
and 8 above of any law other than the Applicable UCC.

     2. We have assumed that neither the Agent nor any Credit Party has waived,
subordinated or agreed to any modification of the perfection of any of the security
interests granted pursuant to the Security Agreement and/or the Mortgage.

     3. We have assumed (a) that each of the Security Agreement and the Mortgage
reasonably identifies the personal property collateral purported to be covered thereby
either specifically or by the categories authorized by the Applicable UCC,
(b) the accuracy of all information relating to the secured party as set forth in
the Financing Statements, and that the Pledged Shares have been duly authorized and
issued and are fully paid and nonassessable.

     4. We express no opinion as to any part of the Collateral that consists of or will
consist of fixtures, consumer goods, farm products, commercial tort claims, timber to
be cut, or as-extracted collateral.

     5. We express no opinion as to any part of the Collateral not subject to Article 9
or, to the extent applicable, Article 8 of the Applicable UCC, and without limiting the
foregoing, any Collateral that constitutes patents, patent applications, trademarks,
trademark applications, copyrights or any other intellectual property.

     6. Section 552 of the United States Bankruptcy Code limits the extent to which
property acquired by a debtor after the commencement of a case under the United States
Bankruptcy Code may be subject to a Lien arising from a security agreement or mortgage
entered into by the debtor before the commencement of such case.

     7.
We call to your attention that under the Applicable UCC, events
occurring subsequent to the date hereof or the passage of time may affect any security
interest subject to such Uniform Commercial Code including, but not limited to, factors
of the type identified in: Section 9-315 with respect to proceeds; Section 9-507 with
respect to changes in name; Section 9-316 with respect to changes in the location of
the collateral and changes in the location of the debtor, in each case, to the extent
the same was relevant to the initial

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	 
	as Administrative Agent	 	 
	April 15, 2011	 	 
	Page 10
	 	

perfection of the applicable security interest; Section 9-508 with respect to new
debtors becoming bound as a debtor by a security agreement entered into by another
person or entity; Section 9-339 with respect to subordination agreements; Section 9-515
with respect to continuation statements; Sections 9-320, 9-321, 9-330, 9-331 and 9-332
with respect to subsequent purchasers or transferees of the collateral; and Sections
9-335 and 9-336 with respect to goods which are, or may become, accessions or
commingled goods. In addition, actions taken by a secured party (e.g., releasing or
assigning the security interest, delivering possession of the collateral to a debtor or
another person or voluntarily subordinating a security interest) may affect any
security interest subject to the Applicable UCC.

          (x) The validity and enforceability of the Mortgage is subject to the applicable statutes
of limitation.

          (xi) The provisions of the Mortgage or any other Transaction Documents specifying that
the documents may only be amended or waived in writing may not be enforceable to the extent
that an oral agreement or implied agreement by trade practice or course of conduct has been
created modifying any provision of the such Documents.

          (xii) The possible rights of third parties to the extent that the consent of any third
party is necessary for the valid creation of a lien or security interest in favor of you or
any other party, and such consent has not been obtained.

          (xiii) What actions you are required to or may take or fail to take which, if taken or
not taken, would affect or impair the enforceability of the documents referred to herein or
your rights or remedies thereunder.

          (xiv) Except as otherwise expressly provided in paragraph (xv) below, no opinion is
expressed as to the laws of any other jurisdiction or to the effect that such laws might have
on the subject matter of the opinions hereinafter set forth under conflict of law principles
or otherwise. We note that the Loan Documents provide that such documents and the rights and
obligations of the parties thereunder, shall (with certain enumerated exceptions) be construed
in accordance with and governed by the laws of the State of New York. Irrespective of such
choice of law or any other governing law provision set forth in the Loan Documents, as to
which we render no opinion, our opinions herein rendered, subject to the assumptions,
qualifications, exceptions and limitations herein stated, are applicable assuming the
Applicable Laws (herein defined and excluding the choice of law rules of the Applicable
Jurisdictions) apply to transactions contemplated by the Loan Documents (including the
creation, binding nature, enforceability and interpretation of the Mortgage) or matters
described therein.

          (xv) As used herein, the term “Applicable Law” means the following: (i) the laws of the
State of Minnesota and the United States of America in each case that the Opinion Attorneys
involved with this matter, based on their experience, recognizes as applicable to the Loan
Parties in

 

 

			
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	as Administrative Agent	 	 
	April 15, 2011	 	 
	Page 11
	 	

the transactions of the type contemplated by the Loan Documents, but in any case and
without limiting the foregoing, excluding the Excluded Laws (as hereinafter defined);
(ii) with respect to any Uniform Commercial Code related matter described to
Opinions 7 and 8 above, and to the extent set forth therein, Articles 8 and 9 of the Applicable
UCC’s, (iii) to the extent set forth in opinion paragraph 1 above with respect to the Loan
Parties (excluding Laserscope) and in Opinion 3 above with respect to the due authorization and
execution of the Loan Documents by the such Loan Parties, the Delaware Business Corporation Act
(based solely upon our review of a standard compilation thereof), and (iv) to the extent set
forth therein, the federal laws described in Opinions 10 and 11. Although we are not admitted
to practice in any jurisdiction other than the State of Minnesota and have not obtained
opinions of counsel admitted in the States of Delaware and Arizona with respect to the
perfection or the continued perfection of the security interests created by the Security
Agreement in the Collateral covered thereby, we have examined the applicable provisions of
Articles 8 and 9 of the Delaware UCC and the Arizona UCC as currently in effect in such
jurisdiction, in each case, as those provisions appear in standard compilations thereof, and
our opinions expressed in Opinion 7 above, to the extent such opinions involve conclusions as
to any Financing Statement being in appropriate form for filing and as to perfection of such
security interests under the laws of such jurisdictions, are based solely upon such review. We
express no opinion with respect to any of the following (collectively, the “Excluded Laws”):
(i) anti-fraud laws or other federal and state securities laws except as otherwise set forth in
opinions 10 and 11; (ii) except as expressly set forth in opinion paragraph 10 above, Federal
Reserve Board regulations; (iii) pension and employee benefit laws, e.g., ERISA; (iv) federal
and state antitrust and unfair competition laws; (v) the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended, and the Exon-Florio Act; (vi) the statutes, ordinances,
administrative decisions and rules and regulations of counties, towns, municipalities and other
political subdivisions (whether created or enabled through legislative action at the federal,
state or regional level); (vii) federal and state environmental laws; (viii) federal and state
land use and subdivision laws; (ix) federal and state tax laws; (x) federal and state laws
relating to communications (including, without limitation, the Communications Act of 1934, as
amended, and the Telecommunications Act of 1996, as amended); (xi) federal patent, copyright
and trademark, state trademark and other federal and state intellectual property laws; (xii)
federal and state racketeering laws, e.g., RICO; (xiii) federal and state health care laws and
federal and state safety laws, e.g., OSHA, FDA, etc.; (xiv) federal and state laws concerning
aviation, vessels, railway or other transportation equipment or matters; (xv) federal and state
laws concerning public utilities; (xvi) federal and state labor laws; (xvii) federal and state
laws and policies concerning (A) national and local emergencies, (B) possible judicial
deference to acts of sovereign states including judicial acts, and (C) criminal and civil
forfeiture laws; (xviii) federal and state banking and insurance laws; (xix) export, import and
customs laws; (xx) the Anti-Terrorism Order, as amended, and all federal, state and local laws,
statutes, ordinances, orders, governmental rules, regulations, licensing requirements and
policies relating to the Anti-Terrorism Order (including without limitation the Executive Order
of September 23, 2001 Blocking Property and Prohibiting
Transactions with Persons Who Commit and Threaten to Commit or Support Terrorism); (xxi)
the USA Patriot Improvement and Reauthorization Act of 2005, its successor

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	 
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	April 15, 2011	 	 
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statutes and similar statutes in effect from time to time, and the policies promulgated
thereunder and any foreign assets control regulations of the United States Treasury Department
or any enabling legislation or order relating thereto; and (xxii) other federal and state
statutes of general application to the extent they provide for criminal prosecution (e.g., mail
fraud and wire fraud statutes); and in the case of each of the foregoing, all rules and
regulations promulgated thereunder or administrative or judicial decisions with respect
thereto.

          (xvi) Without limiting the foregoing, our firm is not providing opinions with respect to
any matters covered in the opinion letters to the Agent of the law firms of Carter Ledyard
& Milburn LLP and Farella Braun + Martel LLP.

The foregoing opinions are further subject to the qualification that we express no
opinion with respect to the following:

          (A) (i) the title of any Loan Party to, the legal or other condition of, any of its
assets, real or personal, including without limitation the Collateral or the Mortgaged
Property, (ii) the adequacy, completeness or correctness of the property descriptions set forth
in the Loan Documents; (iii) the attachment, priority or perfection (except with respect to
perfection to the limited extent set forth in Opinion Paragraphs 7, and 8 above) of any Lien
purported to be created or perfected by any of the Loan Documents; or the proper recordation or
filing of any of the Loan Documents; and further express no opinion as to whether a security
interest or lien has been created in any personal property that might be included in a general
catch-all category in a description of collateral in any security
agreement such as “assets,”
“personal property” or “goods,” unless such property is also described by item or type as
provided in the Applicable UCC; or (iii) the compliance of any of the Mortgaged Property or the
use thereof with any zoning, health, safety, building, subdivision, environmental, land use or
other laws, codes, ordinances or regulations which may be applicable to it

          (B) Possible future claims for contribution, actions, proceedings or potential judgments
against the Mortgagor or the Mortgaged Property under any state or federal superfund
legislation including, but not limited to, Minn. Stat. § 114C, et seq.,
or the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C.
§ 9601, et seq.

          (C) The enforceability of provisions of the Mortgage which give you or any other party
any right of possession of the Mortgaged Property contemplated by the Mortgage, any right to
enter the Mortgaged Property, or any right to use, operate, manage or execute leases, and
collection of the rents with respect to the Mortgaged Property (including, without limitation,
the right to cure defaults, or to complete construction of any improvements) prior to
foreclosure of any mortgage and the expiration of the applicable period of redemption, except
as permitted by applicable law.

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	 
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	April 15, 2011	 	 
	Page 13
	 	

          (D) Matters of usury (except to the limited extent provided in Opinion 9 hereof)
and without limiting the foregoing, the enforceability of the rights and remedies created by
the Loan Documents is subject to limitations on the right of a lender to exercise remedies or
impose charges or penalties for prepayments or late payments or other defaults by a Borrower if
it is determined that (i) the defaults are not material, such penalties bear no reasonable
relationship to the damage suffered by the lender as a result of such prepayment, delinquencies
or defaults, or would constitute a penalty or it cannot be demonstrated that the enforcement of
such restrictions or burdens are reasonably necessary for the protection of the lender, (ii)
the lender’s enforcement of the covenants or provisions under these circumstances would violate
the lender’s implied covenant of good faith and fair dealing, We inform you that interest
following foreclosure of the Mortgage may be limited by the provisions of Minn. Stat. § 581.10
which provides that the interest to be paid by mortgagor, or those claiming under the
mortgagor, from the time of the foreclosure sale until the date of redemption, shall be at the
rate stated in the certificate of sale, and, if no rate is provided in the certificate, then at
the rate of six percent (6%).

          (E) The validity or enforceability of any provisions of the Loan Documents which provide
that the Loan Documents may only be amended or waived in writing, to the extent that any oral
agreement or any implied agreement by trade practice or course of conduct has been created
which modifies any provision of the Loan Documents.

          (F) Any provision in the Loan Documents providing for exclusive jurisdiction of
particular courts or purporting to waive, alter or limit or restrict access to legal or
equitable remedies (including proper jurisdiction, venue, the right to trial by jury, service
of process or objections to the laying of venue or forum on the basis of forum non
conveniens).

          (G) Any action you may take or fail to take which may result in “lender liability,” as
that term is commonly used in the industry, and thereby affect or impair (a) the validity or
enforceability of any or all of the Loan Documents, or (b) the rights and remedies of the
parties thereunder.

          (H) Any tax effect or tax implication of the transactions contemplated by the Transaction
Documents or any documents related thereto.

          (I) The validity or enforceability of any indemnification provision contained in the Loan
Documents to the extent such provisions are determined to be against public policy.

          (J) As to matters of fact, the truth, accuracy, or completeness of any of the
representations, warranties, or other statements of any party or any of its directors,
officers, partners, members or employees contained in any of the Transaction Documents or any
exhibit or schedule attached thereto or any related documents or certificate.

 

 

			
	JP MORGAN CHASE BANK, N.A.,	 	 
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	April 15, 2011	 	 
	Page 14
	 	

          (K) The validity or enforceability of (a) any power of attorney granted in any of the
Transaction Documents, or (b) any document or instrument deemed executed or delivered by any of
the Borrower Parties pursuant to such power of attorney.

          (L) The calculation and/or effect of the payment or lack of payment of applicable mortgage
registration tax registration tax pursuant to Minn. Stat. §287.01, et seq. with respect to the
priority or enforceability of the Mortgage as a security instrument for any of the indebtedness
intended to be secured thereby, including without limitation, with respect to any future or
undetermined indebtedness that is not in existence as of the date of closing.

This Opinion is given as of the date hereof, and the opinions contained herein are
intended to apply only to those facts and circumstances that exist as of the date hereof and,
notwithstanding anything to the contrary contained herein, we render no opinion as to what
other facts or circumstances might subsequently arise or what other actions or omissions might
hereafter be taken by the Agent, any other Credit Parties, the Loan Parties or any third party
that, if so arising or so taken, would affect any of the opinions rendered hereby. We undertake
no duty or obligation to advise you as to the occurrence of any such facts or circumstances or
to otherwise update or reaffirm this opinion. This Opinion is based on existing facts,
statutes, rules and regulations, and judicial rulings and is subject to changes thereto, and we
assume no obligation or responsibility to update or supplement these opinions to reflect any
facts or circumstances that may hereafter come to our attention or any changes in laws that may
hereafter occur, or to inform the addressee of any change in circumstances occurring after the
date hereof that would alter the opinions rendered herein.

     These opinions are addressed solely to you for your use and benefit and may be relied upon
by each “Lender” under the Credit Agreement, each in connection with the transactions
contemplated by the Loan Documents, but may not be relied upon by any other person or entity
without our prior written consent in each instance. At your request, we hereby consent to
reliance hereon by any future assignee of you and/or any Lender of its interest under the Notes
or the other Loan Documents pursuant to an assignment that is made and consented to in
accordance with the express provisions of the Credit Agreement, on the condition and
understanding that any such reliance shall be subject to the preceding terms and conditions of
this opinion letter.

Very truly yours,

MASLON EDELMAN BORMAN & BRAND, LLP

 

 

EXHIBIT B-2

OPINION OF NEW YORK COUNSEL FOR THE LOAN PARTIES

[Attached]

 

 

Counselors at Law

	 	 	 	 	 

	 
	 	2 Wall Street	 	 
	 
	 	New York, NY 10005-2072	 	 
	570 Lexington Avenue
	 	•
	 	701 8th Street. N.W., Suite 410
	New York, NY 10022-6856
	 	Tel (212) 732-3200
	 	Washington, DC 20001-3893
	(212) 371-2720
	 	Fax (212) 732-3232
	 	(202) 898-1515

April 15, 2011

JPMorgan Chase Bank, N.A.

as Administrative Agent

10 South Dearborn Street

Chicago, Illinois 60603

Each of the Lenders from time to time parties to the

Credit Agreement referred to below

Ladies and Gentlemen:

     We have acted as special New York counsel to American Medical Systems, Inc. , a Delaware
corporation (the “Borrower”) and American Medical Systems Holdings, Inc., a Delaware
corporation (“Holdings,”) in connection with the Credit Agreement, dated as of April 15,2011
(the “Credit Agreement”), by and among, on the one hand, the Borrower and Holdings and, on the
other hand, the Lenders from time to time party thereto, JPMorgan Chase Bank N.A., as
Administrative Agent (“Administrative Agent”), PNC Bank, National Association, as Syndication
Agent and U.S. Bank National Association, as Documentation Agent. At the request of the
Borrower, this opinion is given to you pursuant to Section 4.01(b) of the Credit Agreement.
Unless defined herein, capitalized terms have the meanings given them in the Credit Agreement.

     In rendering the opinions set forth herein, we have examined each of the
following:

	 	(a)	 	the Credit Agreement;
	 
	 	(b)	 	the Notes dated April 15, 2011 made by the Borrower payable to (the
“Notes”);
	 
	 	(c)	 	Mortgage, Security Agreement Financing Statement, Fixture Filing and
Assignment of Rents and Leases dated April 15, 2011;
	 
	 	(d)	 	the Pledge and Security Agreement dated as of April 15, 2011 (the
“Pledge and Security Agreement”) among Holdings, the Borrower and the
Subsidiaries identified therein and the Administrative Agent; and
	 
	 	(e)	 	the Guaranty dated as of April 15,2011 by and among the Subsidiaries
of the Borrower identified therein in favor of the Administrative Agent.

     Items (a) through (e) above are hereinafter referred to as the “Transaction Documents.”

 

 

JPMorgan Chase Bank, N.A.

as Administrative Agent; and

Each of the Lenders from time to time parties to the

Credit Agreement referred to below

     As to various questions of fact material to this opinion, we have relied, with your
consent, upon the representations and warranties made in the Transaction Documents and the
other documents executed and delivered in connection therewith and upon certificates and other
documents of officers or representatives of the Obligors (as defined below) and of government
authorities, and have made such other inquiries and investigations as we have deemed necessary
or appropriate.

     For purposes of this opinion, we have assumed, without any independent investigation or
verification of any kind, the following: (i) the genuineness of all signatures of, and the
incumbency, authority and legal right and power under all applicable laws, statutes, rules and
regulations of, the officers and other persons signing the Transaction Documents and the other
documents executed and delivered in connection therewith on behalf of the parties thereto; (ii)
the authenticity and completeness of all documents submitted to us as originals; (iii) the
conformity to authentic original documents and completeness of all documents submitted to us as
certified, conformed or photostatic copies; and (iv) that the certificates of government
authorities dated earlier than the date of this opinion remain accurate from such earlier date
through and including the date of this opinion.

     We have also assumed, with your permission, that (i) the funds to be loaned or advanced as
contemplated by the Credit Agreement have been or will be, as applicable, delivered to and
received by the Borrower; (ii) the documents reviewed by us in connection with this opinion are
in final form and not subject to further material changes; (iii) the Borrower, Holdings and the
Initial Guarantors (collectively, the “Obligors”) have been duly organized and are validly
existing and in good standing under the laws of the State of Delaware with respect to all
Obligors other than Laserscope and under the laws of the State of California with respect to
Laserscope, and have the requisite corporate power and authority to own and use their
properties and to carry on their businesses as presently conducted, and to execute, deliver and
perform the Transaction Documents; (iv) the execution, delivery and performance by the Obligors
of the Transaction Documents have been duly authorized by all requisite corporate action on the
part of the Obligors, and each of the Transaction Documents to which an Obligor is a party has
been duly executed and delivered by such Obligor; (v) the Loans are not secured by a one or two
family owner-occupied residence, as such term is used in Section 5-527 of the New York General
Obligations Law (the “NY GOL”); and (vi) the Obligors own the Collateral described in the
Pledge and Security Agreement, have good and sufficient title to the assets comprising the
Collateral in which they are granting a security interest and have “rights” in such assets
within the meaning of Section 9-203 of the Uniform Commercial Code as in effect in the State of
New York (the “NY UCC”).

     To the extent that the obligations of the Obligors may be dependent on such matters, we
have also assumed for purposes of this opinion that: (i) the Administrative Agent and the
Lenders are duly organized, validly existing and in good standing under the laws of their
respective jurisdiction of organization; (ii) the Administrative Agent and the
Lenders have full power and authority to execute, deliver and perform their obligations under
each of the Transaction Documents to which they are party and each of the other documents
executed by the Administrative Agent and the Lenders in connection therewith; (iii) each such
document executed by the Administrative Agent and the

-2-

 

JPMorgan Chase Bank, N.A.

as Administrative Agent; and

Each of the Lenders from time to time parties to the

Credit Agreement referred to below

Lenders has been duly authorized, executed and delivered by the Administrative Agent
and the Lenders and constitutes the legal, valid and binding obligation of the
Administrative Agent and the Lenders, enforceable against them in accordance with its
terms; (iv) the Administrative Agent and the Lenders will act in good faith and will seek
to enforce their rights and remedies under the Transaction Documents in a manner that is
commercially reasonable and in accordance with applicable laws; (v) certain stipulated
amounts to be paid pursuant to the Transaction Documents (whether as increased interest,
late charges or otherwise) are not a penalty and are compensatory in nature and of a
character to indemnify the injured party for actual expenses and losses; and (vi) all
parties to the Transaction Documents have acted and will continue to act in good faith and
will act in accordance with, and will refrain from taking any action that is forbidden by,
the terms and conditions of the Transaction Documents.

     Based upon the foregoing and subject to the qualifications stated herein, we are of the
opinion that:

     1. Each Transaction Document constitutes a valid and binding obligation of the Obligors
that are parties thereto, enforceable against each of them in accordance with its terms;
however, the enforceability of the Transaction Documents may be: (a) subject to bankruptcy,
insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws
affecting creditors’ rights generally; and (b) subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding at law or in equity)
and the doctrines of unconscionability and penalty.

     2. The execution and delivery of the Transaction Documents will not result in a violation
of any statute, rule or regulation of any Governmental Authority of the State of New York.

     3. Assuming the proceeds of the Loans are used solely for the purposes set forth in the
Credit Agreement, the Transactions do not require any consent or approval of, registration or
filing with, or any other action by, any Governmental Authority of the State of New York other
than any consents, approvals, filings or possession, including but not limited to the filing
of UCC financing statements, required to perfect or grant a security interest in Collateral.

     4. The Applicable Rate applicable to the obligations under the Credit Agreement and the
Notes does not violate any law, rule or regulation prescribing a maximum rate of interest
under New York law, as the principal amount of the Loans, including amounts that Lenders have
agreed to make or advance to Borrower in one or more installments pursuant to the Credit
Agreement, exceeds $2,500,000.

     5. The Pledge and Security Agreement creates in favor of the Administrative Agent, for
the benefit of the Secured Parties, valid security interests under the NY UCC,
including the choice of law provisions thereof, in the rights of each Obligor that is a
party thereto in such of the Collateral described in the Pledge and Security Agreement in
which security interests can be created under Article 9 of the New York UCC
(collectively, the “Article 9 Collateral”). Under the New York UCC, the
internal laws of the State of Delaware and as to Laserscope the internal laws of the State of

-3-

 

JPMorgan Chase Bank, N.A.

as Administrative Agent; and

Each of the Lenders from time to time parties to the

Credit Agreement referred to below

California govern the perfection by filing of a financing statement with respect to the
security interests granted to Agent, for the benefit of the Lenders, in all right, title and
interest of the Obligors in the Article 9 Collateral by the filing of a financing statement.

     The opinions set forth above are subject to the following additional limitations,
qualifications and exceptions:

     (a) We express no opinion as to the enforceability of provisions granting any party sole
discretion or making any determination conclusive, waiving the requirement to assert a
mandatory counterclaim, set off without notice or set off against a party’s property of an
obligation due to another or as to any power of attorney or analog under Quebec law created in
the Credit Agreement on the parties rights and obligations under Quebec, Dutch or German law
described on Article VIII of the Credit Agreement or waiving the benefit of
statute of limitations

     (b) we express no opinion as to the effect of (a) any New York State or other securities
laws, rules or regulations, (b) any New York State or other environmental laws, rules or
regulations or statutory or other requirements relating to the disposition of hazardous waste
or environmental protection, (c) any New York State or other antitrust, unfair competition or
trade practice law, rules or regulations, (d) any New York State or other zoning, permitting or
land use laws, rules or regulations, or (e) any New York State or other patent, trademark or
copyright laws, rules or regulations;

     (c) our opinion contained in paragraph 2 above with respect to violations of the laws of
the State of New York is based upon our review of those New York statutes, rules, resolutions
and judicial decisions that in our experience are normally applicable to or normally relevant
in connection with financing transactions of the type provided for in the Transaction
Documents;

     (d) our opinion contained in paragraph 3 above with respect to consent or approval of, or
registration or filing with, or any other action by, any Governmental Authority of the State of
New York is based upon our review of those New York statutes, rules, resolutions and judicial
decisions that in our experience are normally applicable to or normally in connection with
financing transactions of the type provided for in the Transaction Documents;

     (e) we express no opinion as to the enforceability of any choice of law provision of any
of the Transaction Documents in any court or forum other than a court of the State of New York
or the United States District Court for the Southern District of New York; and we express no
opinion as to the enforceability of any choice of forum provision of any of the Loan Documents,
or the choice of forum that would be made by, any court or forum other than a court of the
State of New York; which will be subject to the Court’s discretion as to venue;

     (f) we express no opinion with respect to the perfection or priority of any lien or
security interest granted or created by any of the Loan Documents or to the enforceability of
the provisions of the Pledge and Security Agreement authorizing the exercise of self help and
the entry of the Grantors’ premises without notice (§ 5.2.1(iv); the appointment
of a receiver without notice of hearing (§

-4-

 

JPMorgan Chase Bank, N.A.

as Administrative Agent; and

Each of the Lenders from time to time parties to the

Credit Agreement referred to below

5.2.4); waiver of notice of sale (§ 8.1); whether the standards in § 8.2 will not
be manifestly unreasonable as applied.; any right to specific performance of any term of the
Pledge and Security agreement (§ 8.6); and we express no opinion with respect to the creation
or attachment of any security interest in any Collateral except to the extent that a security
interest therein can be created under Article 9 of the NY UCC and in any event except as
expressly set forth herein.

     (g) we express no opinion as to the payment of any New York State or other federal, state
or local income, gains, transfer or recording tax (including mortgage recording tax) or filing
fees which may be due in connection with the transactions contemplated by the Loan Documents,
or of the effect that non-payment of the same would have on (i) the Lender’s
ability to foreclose on the Collateral, (ii) the enforceability, perfection or priority of any
lien (including but not limited to any security interest referenced in the Pledge and Security
Agreement) granted or assigned under or pursuant to any Loan Document or Financing Statement,
(iii) the characterization of the transactions contemplated under the Loan Documents for such
purposes or (iv) any other rights of the Lenders;

     (h) we express no opinion as to the legal or regulatory status of the Lenders or the
compliance or non-compliance by the Lenders with any state, federal or other laws or
regulations applicable to the Lender, or the effect of any of the foregoing on the opinions
expressed in paragraph 3 above;

     (i) we express no opinion as to the legality, validity or enforceability of the
Transaction Documents or any of them, or the rights, remedies or obligations of any of the
parties pursuant thereto, except to the extent governed by the internal laws of the State of
New York;

     (j) we express no opinion as to title matters, including but not limited to
the state of title of or to, or the rights or interests of the Obligors or any of them in, any
real or personal property that may be the subject of any of the Transaction Documents or any
document related thereto, or the recording or filing of any Transaction Document or other
document;

     (k) we express no opinion as to the creation, attachment, validity, binding effect,
enforceability, perfection, priority or other effect of perfection or non-perfection of any
security interest in (1) the proceeds of any collateral other than in accordance with, and
subject to the limitations set forth in, Section 9-315 of the NY UCC, (2) commingled goods
arising from any collateral other than in accordance with, and subject to the limitations set
forth in, Section 9-336 of the NY UCC, (3) consumer goods, (4) commercial tort claims, (5)
commodity accounts or commodity contracts, (6) as extracted collateral, (7) farm products, (8)
goods that are or are to become fixtures, (9) health care insurance receivables, (10)
manufactured homes, (11) standing timber or timber to be cut, (12) cooperative apartment
interests or (13) any item of collateral which is subject to restriction on or prohibition
against transfer (except to the extent limited by Sections 9-401,9-406,9-407 or 9-409 of the NY
UCC), contained in an agreement, instrument, document or applicable law governing, evidencing
or otherwise relating to such item;

     (l) we note that Chapter 644 of the Laws of New York, 2008, amended Article 5, Title 15 of
the NY GOL, Sections 5-1501 et seq. (the “Power of Attorney Law”), effective September 1,

-5-

 

JPMorgan Chase Bank, N.A.

as Administrative Agent; and

Each of the Lenders from time to time parties to the

Credit Agreement referred to below

2009, among other things, specifies the requirements for the effectiveness of powers of
attorney executed by individuals in the State of New York; we express no opinion as to the
effect of the Power of Attorney Law on any of the opinions expressed herein, including but not
limited to the enforceability of any power of attorney granted in any of the Loan Documents, or
as to the Power of Attorney Law’s applicability to, or effect on, the Loan Documents or the
transactions contemplated thereby; and

     (m) in addition to the matters referred to in items (a) through (I) above, we express no
opinion as to the possible effect of other applicable statutory or case law which may affect
the enforcement of the rights and remedies or waivers provided for in the Loan Documents,
which, however, do not in our opinion make such rights and remedies and waivers inadequate for
the practical realization of the principal benefits provided by the Transaction Documents,
subject to the other qualifications, limitations, and exceptions set forth in this letter.

     We do not express any opinion herein concerning the laws of any jurisdiction other than
the laws of the State of New York. We further express no opinion as to which particular
provisions of the Transaction Documents would be governed by the laws of another state or other
states, and to the extent that any provision is so governed by the laws of such other state or
states, no opinion is expressed herein.

     We note that Section 5-1401 of the NY GOL provides that parties to contracts relating to
obligations of not less than $250,000 may choose New York law whether or not the contract bears
a reasonable relation to New York State and (b) Section 5-1402 of the NY GOL allows parties to
choose a New York forum under certain circumstances and subject to certain requirements. It is
not clear that these provisions of the NY GOL would withstand an attack based on the United
States Constitution where there were no New York contacts. We have assumed for purposes of this
opinion, therefore, that the contacts with New York in the subject transaction are sufficient
to withstand such a Constitutional attack, and express no opinion on this matter.

     We disclaim any responsibility to update this opinion for any reason. We note that under
the NY UCC, events occurring subsequent to the date hereof or the passage of time may affect
any security interest subject to the NY UCC.

     This opinion is solely for the benefit of the addressees hereof, their respective
successors and permitted assigns, and may not be relied upon by any other person, except that
it may be relied upon by any Maslon Edelman Borman & Brand, LLP or Farella Braun & Martell LLP
in rendering its opinion on the Transaction Documents and other Persons which may subsequently
become Lenders or the Administrative Agent under the Credit Agreement.

	 	 	 	 	 
	 	 	 
	 	                                                   Very truly yours,
 	 
	 	 	 
	 	 	 
	 

JG:mc

-6-

 

EXHIBIT B-3

OPINION OF CALIFORNIA COUNSEL FOR THE LOAN PARTIES

[Attached]

 

 

Attorneys At Law

Russ Building / 235 Montgomery Street

San Francisco / CA 94104

T 415.954.4400 / F 415.954.4480

www.fbm.com

April 15, 2011

JPMorgan Chase Bank, N.A.

as Administrative Agent

10 South Dearborn

Chicago, Illinois 60603

Each of the Lenders from time to time parties to the

Credit Agreement referred to below

	 	 	 	Re: Credit Agreement, dated as of April 15, 2011 (the “Credit Agreement”), by and
among, on the one hand, American Medical Systems, Inc. , a Delaware corporation (the
“Borrower”) and American Medical Systems Holdings, Inc., a Delaware corporation
(“Holdings”) and, on the other hand, JPMorgan Chase Bank N.A., as Administrative Agent
(“Administrative Agent”), PNC Bank, National Association, as Syndication Agent and
U.S. Bank National Association, as Documentation Agent.

Ladies and Gentlemen:

     We have acted as California counsel to Borrower and Borrower’s subsidiary, Laserscope,
a California corporation (the “Company”) in connection with the transactions described in
the Credit Agreement. This opinion is being delivered to you at the request of Borrower
pursuant to Section 4.01(b) of the Credit Agreement. For convenience, capitalized terms used
but not defined in this letter have the meanings given in the Credit Agreement.

     1. Documents Reviewed. For purposes of this opinion, we have examined originals or copies
certified or otherwise authenticated to our satisfaction of the following documents, all of
which, unless otherwise indicated, are dated as of the date of this letter (the “Documents”):

          (a) the Credit Agreement;

          (b) the Pledge and Security Agreement naming the Company as a Grantor and the
Administrative Agent as Secured Party (the “Security Agreement”);

 

 

JPMorgan Chase Bank, N.A.

as Administrative Agent and

each of the Lenders from time to time parties to the

Credit Agreement
April 15, 2011

Page 2

          (c) Form of UCC-1 Financing Statement naming the Company as Debtor, and the Lender
as Secured Party (the “Financing Statement”);

          (d) The Guaranty naming the Company as a Guarantor (“Guarantor”), in favor of the
Administrative Agent for the benefit of the Secured Parties (the “Guaranty”);

          (e) the Formation Documents with respect to the Company listed on Exhibit A (the
“Formation Documents”);

          (f) the Authority Documents with respect to the Company listed on Exhibit B (the
“Authority Documents”); and

          (g) the certificate of certain officers of the Company in the form of Exhibit C
(the “Officers’ Certificate”).

     The Documents listed under items (b) and (d) above are sometimes collectively referred
to in this letter as the “Transaction Documents.”

     2. Assumptions. In our examination, we have assumed the genuineness of the signatures on
the Documents and the completeness thereof, other than the signatures of the Company, the
authenticity of all documents submitted to us as originals, the conformity with authentic
original documents of all documents submitted to us as copies, and the accuracy, completeness
and authenticity of all certificates of public officers.

     In rendering this opinion, we have further assumed, with respect to all the Documents
(except, to the extent expressly set forth in Paragraph 3, as to the Company), (a) the
accuracy of the statements and representations of fact set forth in the Documents; (b) the
existence, good standing, and capacity of each of the parties or signatories to the
Documents; (c) that each of the parties or signatories thereto, has the right, power, and
authority to act in the capacity with which it is to act and to perform its Obligations and
exercise its authority under and with respect to the Transaction Documents; (d) that the
execution and delivery of the Documents by the parties and signatories thereto have been duly
authorized; (e) that the parties or signatories thereto have in fact executed and delivered
the Documents to which they are parties or signatories; (f) that each of the Transaction
Documents constitutes a legal, valid and binding obligation of all of those persons party
thereto, enforceable in accordance with its terms as of the closing of the referenced
transaction; and (g) that the Lenders are in

 

 

JPMorgan Chase Bank, N.A.

as Administrative Agent and

each of the Lenders from time to time parties to the

Credit Agreement
April 15, 2011

Page 3

full compliance with all regulatory, licensing and similar requirements applicable to it.
With respect to the matters set forth in items (b)-(f) in the immediately preceding
sentence, we note that you are receiving opinions dated today of Maslon Edelman Borman &
Brand, LLP and of Carter Ledyard & Milburn LLP.

     With respect to matters of fact relevant to the opinions expressed in this letter, we
have relied on solely on our examination of the factual representations set forth in the
Documents and on our inquiries of the officers of the Company, the replies to which are set
forth in the Officers’ Certificate, and we have made no independent investigation of the
factual matters set forth in such Documents or Officers’ Certificate.

     Our opinions set forth in Paragraphs 3(a), (b), (c) and (d) are based solely upon the
factual certifications In the Officers’ Certificate and our review of the Formation
Documents and Authority Documents attached thereto and the Certificate of Good Standing
referred to in Exhibit B to this letter.

     With respect to our opinion set forth in Paragraph 3(b) that the Company has the
“corporate power” to take certain action, we interpret that phrase to mean that the action
would not be ultra vires with respect to the Company.

     In this letter, “Applicable Law” means those Federal and California state statutes and
regulations that in our experience are typically applicable to agreements such as the
Transaction Documents or to transactions similar to those contemplated by the Transaction
Documents.

     3. Opinions. Subject to the assumptions and qualifications set forth in other portions
of this letter and having reviewed such questions of law as we have deemed necessary for the
purpose of rendering the opinions set forth herein, it is our opinion that:

          (a) Existence and Good Standing. The Company is validly existing and in good standing
as a corporation under the California General Corporation Law.

          (b) Corporate Power. The Company has the corporate power to execute and deliver the
Transaction Documents to which it is a party, and to perform its obligations thereunder.

          (c) Authorization. The execution and delivery of the Transaction Documents to
which it is a party by the Company, and the performance by the

 

 

JPMorgan Chase Bank, N.A.

as Administrative Agent and

each of the Lenders from time to time parties to the

Credit Agreement
April 15, 2011

Page 4

Company of its obligations thereunder, has been duly authorized by all necessary
corporate action on the part of the Company.

          (d) Execution and Delivery. The Company has duly executed and delivered the
Transaction Documents to which it is a party.

          (e) No Violation. The execution and delivery of the Transaction Documents to
which it is a party by the Company, and the performance by the
Company of its obligations thereunder to be performed as of the Effective Date and the
granting of the security interests contemplated by the Transaction Documents, (i) do not
violate the Articles of Incorporation or Bylaws of the Company, and (ii) do not constitute a
breach of Applicable Law, which breach would result in the imposition of a material penalty on
the Company or creation or imposition of a material Lien (other than the Liens created by the
Transaction Documents) on any of the properties of the Company.

          (f) Financing Statement. The Financing Statement is in appropriate form for filing with
the California Secretary of State (the “California Filing Office”). Upon the filing of the
Financing Statement in the California Filing Office, the security interest of the
Administrative Agent in the rights of the Company in the Company’s personal property
adequately described in the Financing Statement, to the extent that such security interest was
validly created under the Security Agreement, will be perfected to the extent that a security
interest in such collateral can be perfected by the filing of a financial statement in the
California Filing Office under the Uniform Commercial Code as adopted in the State of
California. We further advise you as follows: (i) continuation statements complying with
Applicable Law must be filed with the appropriate jurisdiction within the times provided under
Applicable Law; and (ii) other action may be necessary to continue perfection of a security
interest in any of the Company’s personal property (A) if Borrower changes its name, or if
there is a change in the jurisdiction of the Company’s “location,” or (8) constituting
“proceeds” under Applicable Law.

          (g) No Filings or Actions Required. The execution and delivery of the Transaction
Documents to which it is a party by the Company, and the performance by the Company of its
obligations thereunder to be performed as of the Effective Date, require no action by or in
respect of or filing with any governmental or regulatory body agency or official which has
not been made or obtained (other than such filings and recordations as may be necessary or
convenient under the Uniform Commercial Code as in effect in any relevant jurisdiction).

 

 

JPMorgan Chase Bank, N.A.

as Administrative Agent and

each of the Lenders from time to time parties to the

Credit Agreement
April 15, 2011

Page 5

     4. Qualifications. The foregoing opinions are subject to the following
limitations and exceptions:

          (a) We are authorized and licensed to practice law only in the State of California and
in rendering the foregoing opinions we have conducted, to the extent we deem necessary,
reasonable inquiry and examination of applicable laws of the State of California and the
United States in existence on the date hereof. We express no opinion as to the laws of any
other time or jurisdiction, the applicability of the laws of any particular jurisdiction, or
the enforceability of any choice of law provision in the Transaction Documents. We do not
assume any continuing obligation or responsibility to advise you of any changes in law, or
any change of circumstances of which we may become aware, which may affect the conclusions
reached in this opinion.

          (b) We express no opinion with respect to compliance with or the effect of, local or
municipal law, antitrust, environmental, land use, securities, tax, pension, employee
benefit, margin, insolvency, fraudulent transfer or investment company laws or regulations,
nor compliance by the Company’s board of directors with their fiduciary duties.

          (c) We have not inspected or reviewed the books and records of the Company except as
specified in this letter, nor have we made a physical inspection of any of the Company’s
assets or any investigation of the state of title to any such assets.

     We expressly decline any continuing obligation to advise you after the date of this
opinion of any changes in the foregoing or any changes of circumstances of which we may
become aware that may affect the conclusions reached herein. This opinion is delivered at the
request of the Company, solely for your benefit in connection with the Credit Agreement, and
may not be relied upon by any other person or for any other purpose without our prior written
consent. Notwithstanding the foregoing, if the Loans are syndicated or sold, the participants
in, or purchasers of, the Loans (the “Other Interest Holders”) may rely on this Opinion as
though the same were addressed to each of them, subject to the condition that by acceptance
of this letter each Other Interest Holder recognizes and acknowledges that; (i)
no attorney-client relationship has existed between our firm and such person in
connection with the Loan or by virtue of this Opinion, (ii) our firm undertook no duties or
responsibilities and conducted no activities other than those undertaken or conducted for
purposes of the rendering of this Opinion to Lender, (iii) this Opinion may not be
appropriate or sufficient for such Other Interest Holder’s purposes and (iv) regardless of
the date on which such Other Interest

 

 

JPMorgan Chase Bank, N.A.

as Administrative Agent and

each of the Lenders from time to time parties to the

Credit Agreement
April 15, 2011

Page 6

     Holder becomes an Other Interest Holder, this opinion is made only as of the date
hereof.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	 FARELLA BRAUN + MARTEL LLP
 	 
	 	 	 
	 	 	 
	 

 

 

EXHIBIT C

FORM OF INCREASING LENDER SUPPLEMENT

          INCREASING LENDER SUPPLEMENT, dated __________, 20___ (this “Supplement”), by and among each
of the signatories hereto, to the Credit Agreement, dated as of April 15, 2011 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
American Medical Systems, Inc. (the “Borrower”), American Medical Systems Holdings, Inc., the
Lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

W I T N E S S E T H

          WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the Borrower has the right, subject
to the terms and conditions thereof, to effectuate from time to time an increase in the Aggregate
Commitment and/or one or more tranches of Incremental Term Loans under the Credit Agreement by
requesting one or more Lenders to increase the amount of its Commitment and/or to participate in
such a tranche;

          WHEREAS, the Borrower has given notice to the Administrative Agent of its intention
to [increase the Aggregate Commitment] [and] [enter into a tranche of Incremental Term Loans]
pursuant to such Section 2.20; and

          WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the
undersigned Increasing Lender now desires to [increase the amount of its Commitment] [and]
[participate in a tranche of Incremental Term Loans] under the Credit Agreement by executing and
delivering to the Borrower and the Administrative Agent this Supplement;

          NOW, THEREFORE, each of the parties hereto hereby agrees as follows:

          1. The undersigned Increasing Lender agrees, subject to the terms
and conditions of the
Credit Agreement, that on the date of this Supplement it shall [have its Commitment increased by
$[__________], thereby making the aggregate amount of its total Commitments equal to $[__________]]
[and] [participate in a tranche of Incremental Term Loans with a commitment amount equal to
$[__________ ] with respect thereto].

          2. The Borrower hereby represents and warrants that no Default or Event of Default has
occurred and is continuing on and as of the date hereof.

          3. Terms defined in the Credit Agreement shall have their defined meanings when used herein.

          4. This Supplement shall be governed by, and construed in accordance with, the laws of the
State of New York.

          5. This Supplement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same document.

 

 

          IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written.

	 	 	 	 	 
	 	[INSERT NAME OF INCREASING LENDER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Accepted and agreed to as of the date first written above:

	 	 	 	 	 
	AMERICAN MEDICAL SYSTEMS, INC.

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Acknowledged as of the date first written above:

	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A. 
as
Administrative Agent

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 

2

 

	 	 	 	 	 

EXHIBIT D

FORM OF AUGMENTING LENDER SUPPLEMENT

          AUGMENTING LENDER SUPPLEMENT, dated __________, 20___ (this “Supplement”), to the Credit
Agreement, dated as of April 15, 2011 (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”), among American Medical Systems, Inc. (the “Borrower”),
American Medical Systems Holdings, Inc., the Lenders party thereto and JPMorgan Chase Bank, N.A.,
as administrative agent (in such capacity, the “Administrative Agent”).

W I T N E S S E T H

          WHEREAS, the Credit Agreement provides in Section 2.20 thereof that any bank, financial
institution or other entity may [extend Commitments] [and] [participate in tranches of Incremental
Term Loans] under the Credit Agreement subject to the approval of the Borrower and the
Administrative Agent, by executing and delivering to the Borrower and the Administrative Agent a
supplement to the Credit Agreement in substantially the form of this Supplement; and

          WHEREAS, the
undersigned Augmenting Lender was not an original party to the Credit Agreement but now desires to
become a party thereto; 

          
NOW, THEREFORE, each of the parties hereto hereby agrees as follows:

          1. The undersigned Augmenting Lender agrees to be bound by the
provisions of the
Credit Agreement and agrees that it shall, on the date of this Supplement, become a Lender for all
purposes of the Credit Agreement to the same extent as if originally a party thereto, with a
[Commitment with respect to Revolving Loans of $[__________]] [and] [a commitment with respect to
Incremental Term Loans of $[__________]].

          2. The undersigned Augmenting Lender (a) represents and warrants that it is legally
authorized to enter into this Supplement; (b) confirms that it has received a copy of the Credit
Agreement, together with copies of the most recent financial statements delivered pursuant to
Section 5.01 thereof, as applicable, and has reviewed such other documents and information as it
has deemed appropriate to make its own credit analysis and decision to enter into this Supplement;
(c) agrees 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 action under the Credit Agreement
or any other instrument or document furnished pursuant hereto or thereto; (d) appoints and
authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such
powers and discretion under the Credit Agreement or any other instrument or document furnished
pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof,
together with such powers as are incidental thereto; and (e) agrees that it will be bound by the
provisions of the Credit Agreement and will perform in accordance with its terms all the
obligations which by the terms of the Credit Agreement are required to be performed by it as a
Lender.

          3. The undersigned’s address for notices for the purposes of the Credit Agreement is as
follows:

               [___________]

          4. The Borrower hereby represents and warrants that no Default or Event of Default has
occurred and is continuing on and as of the date hereof.

 

 

          5. Terms defined in the Credit Agreement shall have their defined meanings when used herein.

          6. This Supplement shall be governed by, and construed in accordance with, the laws of the
State of New York.

          7. This Supplement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same document.

[remainder of this page intentionally left blank]

 

 

          IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written.

	 	 	 	 	 
	 	[INSERT NAME OF AUGMENTING LENDER]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Accepted and agreed to as of the date first written above:

	 	 	 	 	 
	AMERICAN MEDICAL SYSTEMS, INC.

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Acknowledged as of the date first written above:

	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A. as

Administrative Agent

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 

 

 

EXHIBIT E

LIST OF CLOSING DOCUMENTS

AMERICAN MEDICAL SYSTEMS, INC.

CREDIT FACILITIES

April 15, 2011

LIST OF CLOSING DOCUMENTS1

A. LOAN DOCUMENTS

	1.	 	Credit Agreement (the “Credit Agreement”) by and among American Medical Systems, Inc., a
Delaware corporation (the “Borrower”), American Medical Systems Holdings, Inc. (“Holdings”),
the institutions from time to time parties thereto as Lenders (the “Lenders”) and JPMorgan
Chase Bank, N.A., in its capacity as Administrative Agent for itself and the other Lenders
(the “Administrative Agent”), evidencing a revolving credit facility to the Borrower from the
Lenders in an initial aggregate principal amount of $250,000,000.

SCHEDULES

	 	 	 	 	 

	Schedule 2.01

	 	—
	 	Commitments
	Schedule 3.01

	 	—
	 	Subsidiaries
	Schedule 6.01

	 	—
	 	Existing Indebtedness
	Schedule 6.02

	 	—
	 	Existing Liens

EXHIBITS

	 	 	 	 	 

	Exhibit A

	 	—
	 	Form of Assignment and Assumption
	Exhibit B-1

	 	—
	 	Form of Opinion of Loan Parties’ Minnesota Counsel
	Exhibit B-2

	 	—
	 	Form of Opinion of Loan Parties’ New York Counsel
	Exhibit B-3

	 	—
	 	Form of Opinion of Loan Parties’ California Counsel
	Exhibit C

	 	—
	 	Form of Increasing Lender Supplement
	Exhibit D

	 	—
	 	Form of Augmenting Lender Supplement
	Exhibit E

	 	—
	 	List of Closing Documents
	Exhibit F-1

	 	—
	 	Form of U.S. Tax Certificate (Non-U.S. Lenders That Are Not
Partnerships)
	Exhibit F-2

	 	—
	 	Form of U.S. Tax Certificate (Non-U.S. Lenders That Are
Partnerships)
	Exhibit F-3

	 	—
	 	Form of U.S. Tax Certificate (Non-U.S. Participants That Are Not
Partnerships)
	Exhibit F-4

	 	—
	 	Form of U.S. Tax Certificate (Non-U.S. Participants That Are
Partnerships)

 

			
	1	 	Each capitalized term used herein and not defined herein shall have the
meaning assigned to such term in the above-defined Credit Agreement. Items appearing in bold
and italics shall be prepared and/or provided by the Borrower and/or Borrower’s counsel.

 

 

	2.	 	Notes executed by the Borrower in favor of each of the Lenders, if any, which has
requested a note pursuant to Section 2.10(e) of the Credit Agreement.
	 
	3.	 	Guaranty executed by the initial Subsidiary Guarantors (collectively with the Borrower and
Holdings, the “Loan Parties”) in favor of the Administrative Agent.
	 
	4.	 	Pledge and Security Agreement executed by the Loan Parties, together with pledged instruments
and allonges, stock certificates, stock powers executed in blank, pledge instructions and
acknowledgments, as appropriate.

	 	 	 	 	 

	Exhibit A

	 	—
	 	Legal and Prior Names; Principal Place of Business and Chief
Executive Office; FEIN; State Organization Number and Jurisdiction of
Incorporation; Properties Leased by the Grantors; Properties Owned by
the Grantors; Public Warehouses or Other Locations
	Exhibit B

	 	—
	 	Aircraft/Engines, Ships, Railcars and Other Vehicles Governed by
Federal Statute
	Exhibit C

	 	—
	 	Legal Description, County and Street Address of Property on which
Fixtures are located
	Exhibit D

	 	—
	 	List of Instruments, Pledged Securities and other Investment Property
	Exhibit E

	 	—
	 	UCC Financing Statement Filing Locations
	Exhibit F

	 	—
	 	Commercial Tort Claims
	Exhibit G

	 	—
	 	Grantors
	Exhibit H

	 	—
	 	Deposit Accounts; Securities Accounts

	5.	 	Mortgages executed by the applicable Loan Parties in favor of the Administrative Agent for
the benefit of the Secured Parties with respect to those certain parcels of Material Real
Property (the “Owned Properties”), together with evidence of their recordation, including any
fixture filings.
	 
	6.	 	Mortgage Instruments.
	 
	7.	 	Certificates of Insurance listing the Administrative Agent as (x) lender loss payee for the
property, casualty insurance policies of the initial Loan Parties, together with long-form
lender loss payable endorsements, as appropriate, and (y) additional insured with respect to
the liability insurance of the Loan Parties, together with additional insured endorsements.

B. UCC DOCUMENTS

	8.	 	UCC, tax lien and name variation search reports naming each Loan Party from the appropriate
offices in relevant jurisdictions.
	 
	9.	 	UCC financing statements naming each Loan Party as debtor and the Administrative Agent as
secured party as filed with the appropriate offices in applicable jurisdictions.

C. CORPORATE DOCUMENTS

	10.	 	Certificate of the Secretary or an Assistant Secretary of each Loan Party certifying (i) that
there have been no changes in the Certificate of Incorporation or other charter document of such
Loan Party, as attached thereto and as certified as of a recent date by the Secretary of State (or
analogous governmental entity) of the jurisdiction of its organization, since the date

 

 

		 	of the certification thereof by such governmental entity, (ii) the By-Laws or other
applicable organizational document, as attached thereto, of such Loan Party as in effect on
the date of such certification, (iii) resolutions of the Board of Directors or other
governing body of such Loan Party authorizing the execution, delivery and performance of
each Loan Document to which it is a party, and (iv) the names and true signatures of the
incumbent officers of each Loan Party authorized to sign the Loan Documents to which it is a
party, and (in the case of the Borrower) authorized to request a Borrowing or the issuance
of a Letter of Credit under the Credit Agreement.
	 
	11.	 	Good Standing Certificate (or analogous documentation if applicable) for each Loan Party from
the Secretary of State (or analogous governmental entity) of the jurisdiction of its organization,
to the extent generally available in such jurisdiction.

D. OPINIONS

	12.	 	Opinion of Maslon Edelman Borman & Brand, LLP, Minnesota counsel for the Loan Parties.
	 
	13.	 	Opinion of Carter Ledyard & Milburn LLP, New York counsel for the Loan Parties.
	 
	14.	 	Opinion of Farella Braun & Martell LLP, California counsel for the Loan Parties.

E. CLOSING CERTIFICATES AND MISCELLANEOUS

	15.	 	A Certificate signed by the President, a Vice President or a Financial Officer of Holdings
certifying the following: (i) all of the representations and warranties of Holdings and the
Borrower set forth in the Credit Agreement are true and correct and (ii) no Default or Event of
Default has occurred and is then continuing.
	 
	16.	 	A Certificate of a Financial Officer of Holdings in form and substance satisfactory to the
Administrative Agent supporting the conclusions that, after giving effect to the
Transactions, Holdings and its Subsidiaries, taken as a whole, are Solvent and will be
Solvent subsequent to incurring the indebtedness in connection with the Transactions.
	 
	17.	 	Payoff documentation providing evidence satisfactory to the Administrative Agent that the
Credit and Guaranty Agreement, dated as of July 20, 2006, by and among Holdings, the
Borrower and certain other subsidiaries, the lenders party thereto and CIT Healthcare LLC as
administrative agent has been terminated and cancelled (along with all of the agreements,
documents and instruments delivered in connection therewith) and all Indebtedness owing
thereunder has been repaid and any and all liens thereunder have been terminated.

 

 

EXHIBIT F-1

FORM OF U.S. TAX CERTIFICATE

     (For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement dated as of April 15, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among American
Medical Systems, Inc. (the “Borrower”), American Medical Systems Holdings, Inc., the Lenders party
thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

     Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any
Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is
not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent
shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not
a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of
the Code and (v) the interest payments in question are not effectively connected with the
undersigned’s conduct of a U.S. trade or business.

     The undersigned has furnished the Administrative Agent and the Borrower with a certificate of
its non-U.S. person status on IRS Form W-8BEN. By executing this certificate, the undersigned
agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrower and the Administrative Agent and (2) the undersigned shall have at
all times furnished the Borrower and the Administrative Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to
the undersigned, or in either of the two calendar years preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

	 	 	 	 	 
	 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Date: __________, 20[__]

 

 

EXHIBIT F-2

FORM OF U.S. TAX CERTIFICATE

      
(For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement dated as of April 15, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among American
Medical Systems, Inc. (the “Borrower”), American Medical Systems Holdings, Inc., the Lenders party
thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

     Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing
such Loan(s)) in respect of which it is providing this certificate, (ii) its partners/members are
the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii)
with respect to the extension of credit pursuant to this Credit Agreement, neither the undersigned
nor any of its partners/members is a bank extending credit pursuant to a loan agreement entered
into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of
the Code, (iv) none of its partners/members is a ten percent shareholder of the Borrower within the
meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled
foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and
(vi) the interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business.

     The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY
accompanied by an IRS Form W-8BEN from each of its partners/members claiming the portfolio interest
exemption. By executing this certificate, the undersigned agrees that (1) if the information
provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the
Administrative Agent and (2) the undersigned shall have at all times furnished the Borrower and the
Administrative Agent with a properly completed and currently effective certificate in either the
calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

	 	 	 	 	 
	 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Date: ________ __, 20[__]

 

 

	EXHIBIT F-3

FORM OF U.S. TAX CERTIFICATE

     (For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement dated as of April 15, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among American
Medical Systems, Inc. (the “Borrower”), American Medical Systems Holdings, Inc., the Lenders party
thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

     Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record and beneficial owner of the participation in respect of
which it is providing this certificate, (ii) it is not a bank within the meaning of Section
881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the
meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation
related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest
payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade
or business.

     The undersigned has furnished its participating Lender with a certificate of its non- U.S.
person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if
the information provided on this certificate changes, the undersigned shall promptly so inform such
Lender in writing and (2) the undersigned shall have at all times furnished such Lender with a
properly completed and currently effective certificate in either the calendar year in which each
payment is to be made to the undersigned, or in either of the two calendar years preceding such
payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

[NAME OF LENDER]

	 	 	 	 	 
	 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Date: ________ __, 20[__]

 

 

EXHIBIT F-4

FORM OF U.S. TAX CERTIFICATE

     (For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

     Reference is hereby made to the Credit Agreement dated as of April 15, 2011 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among American
Medical Systems, Inc. (the “Borrower”), American Medical Systems Holdings, Inc., the Lenders party
thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”).

     Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the participation in respect of which it is
providing this certificate, (ii) its partners/members are the sole beneficial owners of such
participation, (iii) with respect such participation, neither the undersigned nor any of its
partners/members is a bank extending credit pursuant to a loan agreement entered into in the
ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its partners/members is a ten percent shareholder of the Borrower within the meaning
of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the
interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business.

     The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by an
IRS Form W-8BEN from each of its partners/members claiming the portfolio interest exemption. By
executing this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned
shall have at all times furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding such payments.

     Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement.

[NAME OF PARTICIPANT]

	 	 	 	 	 
	 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Date: ________ __, 20[__]

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