Document:

ex10_1.htm

  
    Exhibit
10.1

     

    EXECUTION
VERSION

     

    SECURED
REVOLVING LOAN AGREEMENT

     

    SECURED
REVOLVING LOAN AGREEMENT, dated as of April 10, 2009 (as the same may be
amended, supplemented or otherwise modified from time to time, the "Credit Agreement"),
between THE TALBOTS, INC., a corporation duly organized and validly existing
under the laws of the State of Delaware (the "Borrower") and AEON
CO., LTD., a corporation organized and existing under the laws of Japan (the
"Lender").

     

    WHEREAS,
the Borrower has requested that the Lender extend revolving credit loans to the
Borrower during the period from and after the Closing Date (as hereafter
defined) to the Maturity Date (as hereafter defined), in the aggregate principal
amount at any time outstanding not to exceed $150,000,000, subject to the terms
and conditions set forth herein; and

     

    WHEREAS,
the Lender is willing to extend such credit to the Borrower, subject to the
terms and conditions hereinafter set forth.

     

    NOW,
THEREFORE, the Borrower and the Lender hereby agree as follows:

     

    1.   Definitions.  (a)  As
used in this Credit Agreement, unless otherwise defined herein, the following
terms shall have the following meanings (such meanings to be equally applicable
to both the singular and plural forms of the terms defined):

     

    "Affiliate" shall
mean, as to any Person, any corporation or other entity that, directly or
indirectly, controls, is controlled by or is under common control with such
Person.  For purposes of this definition, the term "control" (including "controlling," "controlled by" and "under common control with")
of a Person means the possession, direct or indirect, of the power to vote 10%
or more of the voting stock of such Person or to direct or cause the direction
of the management and policies of such Person, whether through the ownership of
voting stock, by contract or otherwise.  For the purposes of Section 3
and Section 4 of this Credit Agreement, the Lender and its Affiliates (other
than any Person constituting an Affiliate of the Borrower solely by virtue of
the Lender's ownership of voting stock of the Borrower) shall not constitute an
Affiliate of the Borrower.

     

    "Applicable Spread"
shall mean a rate per annum equal to 6.00%.

     

    "Asset Disposition"
shall mean any Disposition of property or series of related Dispositions of
property, including any Capital Stock, by the Borrower or any of its
Subsidiaries (excluding any such Disposition permitted by clause (i), (ii),
(iii), (iv) or (v) of Section 4.21).

     

    "Assignee" is defined
in Section 8.3(a).

     

    "Board" shall mean the
Board of Governors of the Federal Reserve System of the United States of
America.

     

    "Borrower" is defined
in the preamble of this Credit Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    “Borrowing Date” shall
mean the date on which a Revolving Loan is made by the Lender in favor of the
Borrower.

     

    "Borrower's Account"
shall mean the bank account established by the Borrower, at a financial
institution designated by the Lender prior to the initial Borrowing Date, for
the purposes of this Credit Agreement (or such other bank account as the parties
hereto may mutually agree).

     

    "Business Day" shall
mean any day other than a Saturday, Sunday or other day on which commercial
banks are required or authorized to be closed in New York, New York or Tokyo,
Japan; provided, however, that when
used in connection with the payment or prepayment of any amounts accruing
interest at such rate or providing notices in connection with such rate, "Business Day" shall mean any Business Day in New York, New York or
Tokyo, Japan in which dealings in Dollars are carried on in the London interbank
market; provided, further, that when
used in connection with the calculation or determination of LIBOR, "Business Day" shall mean any Business Day in London, in which
dealings in Dollars are carried on in the London interbank
market.

     

    "Capital Expenditures"
shall mean for any period, with respect to any Person, the aggregate of all
expenditures (whether paid in cash or other consideration or accrued as a
liability and including that portion of Capital Lease Obligations which is
capitalized on the consolidated balance sheet of such Person) by such Person and
its Subsidiaries during such period for the acquisition or leasing (pursuant to
a capital lease) of fixed or capital assets or additions to equipment (including
capitalized replacements, capitalized repairs and improvements during such
period) that, in conformity with GAAP, are included in "additions to property, plant or equipment" or comparable items
reflected in the consolidated statement of cash flows of such Person and its
Subsidiaries.

     

    "Capital Stock" shall
mean (i) with respect to any Person that is a corporation, any and all shares,
interests, participations or other equivalents (however designated and whether
or not voting) of corporate stock, and (ii) with respect to any Person that is
not a corporation, any and all partnership, membership or other equity interests
of such Person, in each case including any warrants, options or other rights
entitling the holder thereof to purchase or acquire any of the
foregoing.

     

    "Capitalized Lease
Obligations" shall mean obligations for the payment of rent for any real
or personal property under leases or agreements to lease that, in accordance
with GAAP, have been or should be capitalized on the books of the lessee and,
for purposes hereof, the amount of any such obligations shall be the capitalized
amount thereof determined in accordance with GAAP.

     

    "Closing Date" shall
mean the later to occur of (i) April 10, 2009 and (ii) the first Business Day
after the conditions precedent set forth in Section 5 hereof have been satisfied
or waived in accordance with the terms hereof.

     

    "Code" shall mean the
Internal Revenue Code of 1986, as amended from time to time, and the regulations
and published interpretations thereof.

     

    
      
        
        

      

      
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    "Collateral" means all
"Collateral" referred to in the Collateral Documents, including the Mortgaged
Properties and substantially all of the consumer credit/charge card receivables
owed to the Borrower or any Guarantor from time to time.

     

    "Collateral Documents"
means, collectively, the Security Agreement, the Mortgages and any other
documents granting a Lien upon the Collateral as security for payment of the
Obligations.

     

    "Credit Card
Receivables" shall have the meaning set forth in the Security
Agreement.

     

    "Default" shall mean
any event or circumstance that with the giving of notice, the lapse of time or
both would constitute an Event of Default.

     

    "Default Rate" is
defined in Section 2.5.

     

    "Dispose" or "Disposition" shall
mean any transaction, or series of related transactions, pursuant to which any
Person or any of its Subsidiaries sells, assigns, transfers or otherwise
disposes of any property or assets (whether now owned or hereafter acquired) to
any other Person, in each case, whether or not the consideration therefor
consists of cash, securities or other assets owned by the acquiring
Person.

     

    "Dollars" and the
symbol "$"
shall mean lawful money of the United States of America.

     

    "Domestic Subsidiary"
shall mean, with respect to any Person, each Subsidiary of such Person organized
under the laws of the United States of America, any State thereof or the
District of Columbia.

     

    "Eligible Credit Card
Receivables" shall have the meaning set forth in the Security
Agreement.

     

    "EMAIL" is defined in
Section 8.6.

     

    "Environmental Action"
shall mean any complaint, summons, citation, notice, directive, order, claim,
litigation, investigation, judicial or administrative proceeding, judgment,
letter or other communication from any governmental agency, department, bureau,
office or other authority, or any third party involving violations of
Environmental Laws or releases of Hazardous Materials from (i) any assets,
properties or businesses of the Borrower or any of its Subsidiaries or any
predecessor in interest; (ii) from adjoining properties or businesses; or (iii)
from or onto any facilities which received Hazardous Materials generated by the
Borrower or any of its Subsidiaries or any predecessor in interest.

     

    "Environmental Law"
shall mean any present or future statute, ordinance, rule, regulation, order,
judgment, decree, permit, license or other binding determination of any
Governmental Authority imposing liability or establishing standards of conduct
for protection of the environment as the same may be amended or supplemented
from time to time.

     

    
      
        
        

      

      
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    "Environmental Liabilities
and Costs" shall mean all liabilities, monetary obligations, remedial
actions, losses, damages, punitive damages, consequential damages, treble
damages, costs and expenses (including all reasonable fees, disbursements and
expenses of counsel, experts and consultants and costs of investigation and
feasibility studies), fines, penalties, sanctions and interest incurred as a
result of (i) any claim or demand by any Governmental Authority or any third
party, and which relate to any environmental condition or a release of Hazardous
Materials or (ii) any breach by the Borrower or any of its Subsidiaries of any
Environmental Law.

     

    "ERISA" shall mean the
Employee Retirement Income Security Act of 1974, as amended from time to
time.

     

    "ERISA Affiliate"
shall mean any trade or business (whether or not incorporated) that, together
with the Borrower, 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" shall
mean (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 the Borrower 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 the Borrower 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 the Borrower or any of its ERISA Affiliates of
any liability with respect to the withdrawal or partial withdrawal from any Plan
or Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA
Affiliate of any notice, or the receipt by any Multiemployer Plan from the
Borrower or any ERISA Affiliate of any notice, concerning the imposition of
Withdrawal Liability (or that could reasonably be expected to result in
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.

     

    "Event of Default" is
defined in Section 6.1 hereof.

     

    "Excluded Subsidiary"
shall mean each non wholly-owned Subsidiary of the Borrower and each Subsidiary
of the Borrower that is not a Guarantor.

     

    "Excluded Taxes"
means, (i) any Taxes imposed on the recipient's overall net income, or franchise
or other taxes imposed in lieu of Taxes on overall net income (however
denominated), by the jurisdiction (or any political subdivision thereof) under
the laws of which such recipient is organized or in which its principal office
is located (or, in the case of the Lender, in which its applicable lending
office is located) or otherwise as a result of a present or former connection
between the recipient and the jurisdiction imposing such Tax, other than a
connection arising from such recipient having executed, received a payment under
or enforced this Credit Agreement and (ii) any branch profits taxes imposed by
the United States; it being understood, for the avoidance of doubt, that
Excluded Taxes shall not include any withholding tax, including, without
limitation, a withholding tax imposed by the United States on payments to a
non-US, person who is not otherwise subject to tax in the United States on a net
income basis, other than any withholding tax that would apply to amounts payable
to a recipient at the time the recipient becomes a party to this Agreement or is
attributable to the recipient's failure to comply with Section
7.2(f).

     

    
      
        
        

      

      
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    "Fair Market Value"
shall mean, with respect to any asset or property, the price which could be
negotiated in an arm's length, free market transaction, for cash, between a
willing seller and a willing and able buyer, neither of whom is under undue
pressure or compulsion to complete the transaction.  Fair Market Value
will be determined in good faith by the board of directors of the Borrower, and,
upon the Lender's request, shall be evidenced by a certificate (together with
supporting calculation) of the Borrower to the Lender.

     

    "FAX" is defined in
Section 8.6.

     

    "Federal Funds Rate"
shall mean (i) for any Business Day, the rate on overnight federal funds
transactions with members of the Federal Reserve System arranged by federal
funds brokers, as published for such day by the Federal Reserve Bank of New
York, or, if such rate is not published for any Business Day, the average of the
quotations for such day on such transactions received by the Lender from three
Federal funds brokers of recognized standing selected by the Lender, and (ii)
for any day which is not a Business Day, the Federal Funds Rate for the
preceding Business Day.

     

    "GAAP" shall mean
generally accepted accounting principles in effect from time to time in the
United States, applied on a consistent basis.

     

    "Guaranty" means the
Guaranty, in the form of Exhibit C hereto, to
be executed and delivered by each Guarantor in favor of the Lender.

     

    "Guarantors" means (a)
the Initial Guarantors and (b) each other Person that becomes a Guarantor after
the Closing Date pursuant to Section 4.24, and "Guarantor" means any
one of them.

     

    "Governmental
Authority" shall mean any nation or government, any state or other
political subdivision thereof and any department, commission, board, bureau,
instrumentality, agency or other entity exercising legislative, judicial
regulatory or administrative functions of or pertaining to
government.

     

    "Hazardous Materials"
shall mean (a) petroleum and petroleum products, byproducts or breakdown
products, radioactive materials, asbestos-containing materials, polychlorinated
biphenyls and radon gas and (b) any other chemicals, materials or substances
designated, classified or regulated as hazardous or toxic or as a pollutant or
contaminate under any Environmental Law.

     

    "Hedging Agreements"
shall mean any interest rate, commodity or equity swap, cap, floor or forward
rate agreement or collar arrangements, interest rate future or option contracts,
currency swap agreements, currency future or option contracts and other similar
agreements or arrangements designed to protect against fluctuations in interest
rates or currency, commodity or equity values, and any confirmation executed in
connection with any such agreement or arrangement.

     

    
      
        
        

      

      
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    "Indebtedness" shall
mean with respect to any Person, without duplication, (i) all indebtedness of
such Person for borrowed money, (ii) all obligations of such Person for the
deferred purchase price of assets or services acquired by such Person which, in
accordance with GAAP, would be shown on the liability side of the balance sheet
of such Person, (iii) all obligations of such Person under or evidenced by
bonds, debentures, notes or other similar instruments or upon which interest
payments are customarily made, (iv) all obligations and liabilities, contingent
or otherwise, of such Person in respect of letters of credit, acceptances and
similar facilities, including, without duplication, all drafts drawn thereunder,
(v) all obligations of the kind referred to in clauses (i) through (iv) and (vi)
through (viii) of this definition secured by any Lien on any property owned by
such Person whether or not owing by such Person and even though such Person has
not assumed or become liable for payment thereof, (vi) all Capitalized Lease
Obligations of such Person, (vii) all obligations and liabilities of such Person
created or arising under any conditional sales or other title retention
agreement with respect to property used and/or acquired by such Person, even
though the rights and remedies of the lessor, seller and/or lender thereunder
are limited to repossession or sale of such property, or agreements to pay a
specified purchase price for goods or services whether or not delivered or
accepted, i.e., take-or-pay and similar obligations, (viii) solely for purposes
of Section 6.1(e), contingent obligations of such Person under any Hedging
Agreements, as calculated in accordance with accepted practice, (ix) all
obligations referred to in clauses (i) through (viii) of this definition of
another Person (a) guaranteed directly or indirectly in any manner by such
Person or (b) secured by (or for which the holder of such indebtedness has an
existing right, contingent or otherwise, to be secured by) any Lien upon or in
any property owned by such Person; provided, however, that the
term Indebtedness shall not include (y) trade payables (including trade letters
of credit issued for the account of such Person in the ordinary course of its
business, but excluding drafts drawn thereunder or any reimbursement obligations
in respect thereof) or accrued expenses, in each case arising in the ordinary
course of business and not more than 60 days delinquent or (z) gift cards and
other customer liabilities arising in the ordinary course of business of such
Person.  The Indebtedness of any Person shall include the Indebtedness
of any partnership of or joint venture in which such Person is a general partner
or joint venturer.

     

    "Initial Guarantors"
shall mean each Domestic Subsidiary of Borrower listed on Schedule 1(a)
hereto.

     

    "Interest Payment
Date" shall mean the last day of each calendar month.

     

    "Interest Period"
shall mean, with respect to a Revolving Loan, (a) the period commencing on and
including the Borrowing Date of such Revolving Loan and ending on but excluding
the first Interest Payment Date occurring after the  Borrowing Date of
such Revolving Loan, and (b) thereafter, each period commencing on and including
the immediately preceding Interest Payment Date and ending on but excluding the
next succeeding Interest Payment Date; provided, however, that (i) if
any Interest Period would end on a day other than a Business Day, such Interest
Period shall end on the immediately preceding Business Day, and (ii) no Interest
Period shall end after the Maturity Date and any Interest Period which would,
but for this clause, end after the Maturity Date shall instead end on the
Maturity Date.

     

    
      
        
        

      

      
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    "J. Jill" shall mean
the assets and business of the Borrower and its Subsidiaries compromising the J.
Jill brand.

     

    "Lender" is defined in
the preamble of this Credit Agreement.

     

    "LIBOR" shall mean,
with respect to any Interest Period pertaining to any portion of any Revolving
Loan:

     

    (a)         the rate
of interest per annum determined by the Lender on the basis of the rate for
deposits in Dollars for a period comparable to such Interest Period commencing
on the first day of such Interest Period appearing on Page 3750 of the Telerate
screen or any successor thereto at approximately 11:00 a.m. (London time) on the
date two Business Days prior to the first day of such Interest Period,
or

     

    (b)         if the
rate in the preceding subsection (a) is not available, the rate of interest per
annum determined by the Lender to be the rate in the London interbank market at
approximately 11:00 a.m. (London time) on the date two Business Days prior to
the first day of such Interest Period for the offering by Mizuho in the
interbank market of deposits in Dollars for a period equal to such Interest
Period in amounts comparable to the principal amount of such Revolving Loan to
which such Interest Period applies, at the time as of which the Lender makes
such determination.

     

    "Lien" shall mean any
mortgage, deed of trust, pledge, lien (statutory or otherwise), security
interest, charge or other encumbrance or security or preferential arrangement of
any nature whatsoever.

     

    "Loan Account" is
defined in Section 2.9 hereof.

     

    "Loan Documents" shall
mean each of this Credit Agreement, each Note, the Guaranty, the Collateral
Documents and each other document, certificate, instrument and agreement
executed and delivered pursuant to or in connection herewith or therewith, as
the same may be amended, supplemented or otherwise modified from time to
time.

     

    "Material Adverse
Effect" shall mean a material adverse effect on any of (a) the
operations, business, assets, properties, or condition (financial or otherwise)
of the Borrower and its Subsidiaries, taken as a whole; provided, that, a general delay
in the payment of accounts or expenses payable by the Borrower or its
Subsidiaries shall be excluded, (b) the ability of the Borrower or any of its
Subsidiaries to perform any of its obligations hereunder, under any Note or
under any other Loan Document to which it is a party and (c) the legality,
validity or enforceability of this Credit Agreement, any Note or any other Loan
Document.

     

    "Maturity Date" shall
mean (i) the earlier of (A) the consummation of a Qualified Transaction and (B)
April 17, 2010, or, if such day is not a Business Day, the next succeeding
Business Day or (ii) such earlier date on which the Revolving Loans become due
and payable (whether at stated maturity, by mandatory prepayment, by
acceleration or otherwise) in accordance with the terms hereof.

     

    
      
        
        

      

      
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    "Mortgaged Properties"
means the owned real properties and all improvements thereon of the Borrower or
any Guarantor listed on Schedule 1(b)
hereto.

     

    "Mortgages" means any
mortgage, deed of trust or other agreement which conveys or evidences a Lien in
favor of the Lender, on the Mortgaged Properties.

     

    "Multiemployer Plan"
shall mean a multiemployer plan as defined in Section 4001(a)(3) of
ERISA.

     

    "Non-Cash Pay Preferred
Stock" shall mean preferred Capital Stock of the Borrower that
(a) is not required to be prepaid, redeemed, repurchased or defeased, in
whole or in part, whether on one or more fixed dates, upon the occurrence of one
or more events or at the option of any holder thereof, and which do not require
any payment of cash dividends or distributions, in each case prior to the date
that is six months after the Maturity Date and (b) is not exchangeable or
convertible into Indebtedness of the Borrower or any Subsidiary or any preferred
stock or other Capital Stock (other than common equity of the Borrower or other
Non-Cash Pay Preferred Stock).

     

    "Note" shall mean a
promissory note of the Borrower evidencing a Revolving Loan, payable to the
order of the Lender, substantially in the form of Exhibit A
hereto, as the same may be amended, supplemented and otherwise modified from
time to time, or any substitute therefor.

     

    "Notice of Borrowing"
is defined in Section 2.2 hereof.

     

    "Other Taxes" is
defined in Section 7.2(b).

     

    "PBGC" shall mean the
Pension Benefit Guaranty Corporation referred to and defined in ERISA and any
successor entity performing similar functions.

     

    "Permitted
Indebtedness" shall mean:

     

    (a)         any
Indebtedness owing to the Lender under this Credit Agreement and the other Loan
Documents;

     

    (b)  
  any other
Indebtedness listed on Schedule 4.17 (including
Indebtedness under lines of credit and other credit facilities described on such
Schedule, as in effect on the date hereof), and the extension of maturity,
refinancing or modification of the terms thereof; provided, however, that after
giving effect to such extension, refinancing or modification: (A) the amount of
such Indebtedness is not greater than the amount of Indebtedness outstanding
immediately prior to such extension, refinancing or modification and (B) such
Indebtedness does not have the benefit of covenants more restrictive in any
material respect than those set forth in this Credit Agreement;

     

    (c)         Indebtedness
evidenced by Capitalized Lease Obligations entered into in order to finance
Capital Expenditures made by the Borrower in accordance with the provisions of
this Credit Agreement, which Indebtedness, when aggregated with the principal
amount of all Indebtedness incurred under this clause (c) and clause (d) of this
definition, does not exceed $100,000,000 at any time outstanding;

     

    
      
        
        

      

      
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    (d)         Indebtedness
permitted by clause (d) or (e) of the definition of "Permitted
Liens";

     

    (e)         Indebtedness
permitted under Section 4.19;

     

    (f)         Subordinated
Debt; and

     

    (g)         additional
Indebtedness incurred by the Borrower or any Guarantor approved by the Lender,
including with respect to a Qualified Transaction.

     

    "Permitted
Investments" shall mean (a) marketable direct obligations issued or
unconditionally guaranteed by the United States Government or issued by any
agency thereof and backed by the full faith and credit of the United States, in
each case, maturing within six months from the date of acquisition thereof;
(b) commercial paper, maturing not more than 270 days after the date
of issue rated P-1 by Moody's or A-1 by Standard & Poor's;
(c) certificates of deposit maturing not more than 270 days after the
date of issue, issued by commercial banking institutions and money market or
demand deposit accounts maintained at commercial banking institutions, each of
which is a member of the Federal Reserve System and has a combined capital and
surplus and undivided profits of not less than $500,000,000; (d) repurchase
agreements having maturities of not more than 90 days from the date of
acquisition which are entered into with major money center banks included in the
commercial banking institutions described in clause (c) above and which are
secured by readily marketable direct obligations of the United States Government
or any agency thereof; (e) money market accounts maintained with mutual
funds having assets in excess of $2,500,000,000; and (f) tax exempt
securities rated A or better by Moody's or A+ or better by Standard & Poor's
maturing within six months from the date of acquisition thereof.

     

    "Permitted Liens"
shall mean:

     

    (a)         Liens
for taxes, assessments and governmental charges the payment of which is not
required under Section 4.7;

     

    (b)         Liens
imposed by law, such as carriers', warehousemen's, mechanics', materialmen's and
other similar Liens arising in the ordinary course of business and securing
obligations (other than Indebtedness for borrowed money) that are not overdue by
more than 30 days or are being contested in good faith and by appropriate
proceedings promptly initiated and diligently conducted, and a reserve or other
appropriate provision, if any, as shall be required by GAAP shall have been made
therefor;

     

    (c)         Liens
described on Schedule
4.16,
but not the extension of coverage thereof to other property or the extension of
maturity, refinancing or other modification of the terms thereof or the increase
of the Indebtedness secured thereby;

     

    
      
        
        

      

      
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    (d)         (i)            purchase
money Liens on equipment acquired or held by the Borrower or any of its
Subsidiaries in the ordinary course of its business to secure the purchase price
of such equipment or Indebtedness incurred solely for the purpose of financing
the acquisition of such equipment or (ii) Liens existing on such equipment
at the time of its acquisition; provided, however, that
(A) no such Lien shall extend to or cover any other property of the
Borrower or any of its Subsidiaries, (B) the principal amount of the
Indebtedness secured by any such Lien shall not exceed the lesser of 90% of the
Fair Market Value or the cost of the property so held or acquired and (C) the
aggregate principal amount of Indebtedness secured by any or all such Liens,
when aggregated with the principal amount of all Indebtedness incurred under
this clause (d) and clauses (c) and (d) of the definition of Permitted
Indebtedness, shall not exceed at any one time outstanding
$100,000,000;

     

    (e)         deposits
and pledges of cash securing (i) obligations incurred in respect of workers'
compensation, unemployment insurance or other forms of governmental insurance or
benefits, (ii) the performance of bids, tenders, leases, contracts (other
than for the payment of money) and statutory obligations, (iii) obligations on
surety or appeal bonds, but only to the extent such deposits or pledges are
incurred or otherwise arise in the ordinary course of business and secure
obligations not past due or (iv) letters of credit or other extensions of credit
extended for any of the foregoing purposes;

     

    (f)         easements,
zoning restrictions and similar encumbrances on real property and minor
irregularities in the title thereto that do not (i) secure obligations for the
payment of money or (ii) materially impair the value of such property or its use
by the Borrower or any of its Subsidiaries in the normal conduct of such
Person's business;

     

    (g)         Liens
securing Indebtedness permitted by subsection (b) of the definition of Permitted
Indebtedness; provided, that, the Borrower
provides, and causes its Subsidiaries to provide, concurrently therewith, that
the obligations under this Credit Agreement, the Note and each other Loan
Document are equally and ratably so secured.

     

    (h)         Liens
securing Indebtedness permitted by subsection (c) of the definition of Permitted
Indebtedness.

     

    (i)         
Liens in
favor of the Lender created by the Collateral Documents.

     

    (j)         
Liens
securing Indebtedness incurred pursuant to a Qualified Transaction.

     

    "Person" shall mean a
natural person, corporation, partnership, limited liability company or
partnership, association, joint-stock company, trust, unincorporated
organization, joint venture, Governmental Authority or other
entity.

     

    "Plan" shall mean 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 the Borrower 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.

     

    "Qualified
Transaction" shall mean one or more securitization programs or structured
loans by the Borrower or any of its Subsidiaries, in aggregate equivalent
principal amount to the Revolving Loan Commitment, approved in advance by, and
in form and substance satisfactory to, the Lender.

     

    
      
        
        

      

      
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    "Restricted Payment"
shall mean any dividend or other distribution (whether in cash, securities or
other property) with respect to any shares of any class of Capital Stock of the
Borrower or any of its Subsidiaries, 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 shares of Capital Stock of the Borrower or any option, warrant or
other right to acquire any such shares of Capital Stock of the
Borrower.

     

    "Revolving Commitment
Period" shall mean the period from and including the Closing Date to the
Maturity Date.

     

    "Revolving Loan" is
defined in Section 2.1 hereof.

     

    "Revolving Loan
Availability" shall mean, at any time of determination, an amount equal
to the Revolving Loan Commitment in effect as such time, less the aggregate
principal amount of Revolving Loans outstanding at such time.

     

    "Revolving Loan
Commitment" is defined in Section 2.1 hereof.

     

    "Secured Party" has
the meaning assigned to such term in the Security Agreement.

     

    "Security Agreement"
means the security agreement to be entered into among the Borrower, the
Guarantors and the Lender, which conveys or evidences a Lien in favor of the
Lender, on the Collateral other than the Mortgaged Properties.

     

    "Solvent" shall mean,
with respect to any Person on a particular date, that on such date (a) the fair
value of the property of such Person is not less than the total amount of the
liabilities of such Person, (b) the present fair salable value of the assets of
such Person is not less than the amount that will be required to pay the
probable liability of such Person on its existing debts as they become absolute
and matured, (c) such Person is able to realize upon its assets and pay its
debts and other liabilities, contingent obligations and other commitments as
they mature in the normal course of business, (d) such Person does not intend
to, and does not believe that it will, incur debts or liabilities beyond such
Person's ability to pay such debts and liabilities as they mature, and (e) such
Person is not engaged in a business or a transaction, and is not about to engage
in a business or a transaction, for which such Person's property would
constitute unreasonably small capital.

     

    "Subordinated Debt"
shall mean any Indebtedness of the Borrower that (i) does not mature prior
to August 31, 2012, (ii) is not required to be repaid, prepaid, redeemed,
amortized, repurchased or defeased, in whole or in part, prior to August 31,
2012 (other than (x) pursuant to an acceleration of the obligations thereunder
by the lenders party thereto following an event of default and (y) pursuant to
customary asset sale or change in control provisions requiring redemption or
repurchase thereof, in each case only if and to the extent then permitted by
this Credit Agreement and the subordination provisions of such Indebtedness),
(iii) is not secured by any assets of the Borrower or any Subsidiary,
(iv) is not exchangeable or convertible into Indebtedness of the Borrower
or any Subsidiary (except other Subordinated Debt) or any preferred stock
other than Non-Cash Pay Preferred Stock, (v) does not have the benefit of
covenants more restrictive in any material respect than those set forth in this
Credit Agreement and (vi) is subordinated to the obligations of the Borrower
under this Credit Agreement pursuant to a written agreement reasonably
satisfactory in form and substance to and approved in writing by the
Lender.

     

    
      
        
        

      

      
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    "Subsidiary" shall
mean, as to any Person, any corporation or other entity of which Capital Stock
or other ownership interests having (in the absence of contingencies) ordinary
voting power to elect at least a majority of the board of directors (or persons
performing similar functions) of such corporation or other entity which is, at
the time of determination, owned directly, or indirectly through one or more
intermediaries, by such Person.

     

    "Taxes" is defined in
Section 7.2(a).

     

    "Threshold Amount"
shall mean $10,000,000.

     

    "Tilton Property"
shall mean that certain real property located in the Town of Tilton, County of
Belknap and State of New Hampshire owned by the Borrower, as further described
in that certain Mortgage, Assignment of Leases and Rents and Security Agreement
dated March 1, 1999, by mortgagor to mortgagee, and record in the Belknap County
Registry of Deeds (the "Recorder's Office") in Book 151 at Page
0596.

     

    "Uniform Commercial
Code" is defined in Section 1(c).

     

    "USA Patriot Act" is
defined in Section 4.14.

     

    "Withdrawal Liability"
shall mean 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.

     

    (b)         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, (i) any
definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document
as from time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein),
(ii) any reference herein to any Person shall be construed to include such
Person's successors and assigns, (iii) the words "herein",
"hereof" and "hereunder", and words of
similar import, shall be construed to refer to this Credit Agreement in its
entirety and not to any particular provision hereof, (iv) 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 Credit Agreement
and (v) the words "asset" and "property" shall be construed to have the same meaning and effect
and to refer to any right or interest in or to assets and properties of any kind
whatsoever, whether real, personal or mixed and whether tangible or
intangible.

     

    
      
        
        

      

      
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    (c)         Accounting and Other
Terms.  Unless otherwise expressly provided herein, each
accounting term used herein shall have the meaning given it under GAAP applied
on a basis consistent with those used in preparing the financial statements
referred to in Section 3(j).  All terms used in this Credit Agreement
which are defined in Article 8 or Article 9 of the Uniform Commercial Code as in
effect from time to time in the State of New York (the "Uniform Commercial
Code") and which are not otherwise defined herein shall have the same
meanings herein as set forth therein, provided that terms used herein which are
defined in the Uniform Commercial Code as in effect in the State of New York on
the date hereof shall continue to have the same meaning notwithstanding any
replacement or amendment of such statute except as the Lender may otherwise
determine.

     

    (d)         Time References.  Unless
otherwise indicated herein, all references to time of day refer to Eastern
Standard Time or Eastern daylight saving time, as in effect in New York City on
such day.  For purposes of the computation of a period of time from a
specified date to a later specified date, the word "from" means
"from and including" and the words "to" and "until" each means "to but excluding"; provided, however, that with
respect to a computation of fees or interest payable to the Lender, such period
shall in any event consist of at least one full day.

     

    2.         
 The Revolving
Loans

     

    2.1          
The Revolving Loan
Commitment.  Upon
satisfaction or waiver of all terms and conditions precedent to borrowing
(including absence of any Default) set forth herein, the Lender agrees, from
time to time on any Business Day during the Revolving Commitment Period, to make
revolving loans to the Borrower (the "Revolving Loans") in
amounts, which together with all outstanding Revolving Loans, will not exceed in
the aggregate the principal amount of $150,000,000 (the "Revolving Loan
Commitment").  The Revolving Loan Commitment shall be subject
to reduction and/or termination as herein provided (including, without
limitation, pursuant to Sections 2.6 and 6.2 hereof).  On the terms
and subject to the conditions hereof, the Borrower may from time to time borrow,
prepay, and re-borrow the Revolving Loans.  Any such borrowing may be
denominated in Dollars, as hereinafter provided, and shall be in the aggregate
principal amount of $10,000,000 or any whole multiple thereof in excess of
$10,000,000.  On the Maturity Date, the Revolving Loan Commitment
shall terminate and the Lender shall have no obligation whatsoever to make any
further Revolving Loans to the Borrower.

     

    2.2          
Making the Revolving
Loans.  Each
Revolving Loan shall be made upon written notice (in form and substance
satisfactory to the Lender, a "Notice of
Borrowing"), given by the Borrower to the Lender at least three Business
Days prior to the proposed Borrowing Date thereof.  Each Notice of
Borrowing shall be irrevocable and shall specify therein (A) the proposed
Borrowing Date, which shall be a Business Day and (B) the principal amount of
such Revolving Loan.  Upon fulfillment of the applicable conditions
set forth in Section 5 hereof (or the waiver thereof by the Lender as herein
prescribed), the Lender shall make such Revolving Loan to be made by it
hereunder by wire transfer of immediately available funds by 2:00 p.m., New
York City time on the Borrowing Date, to the Borrower's Account.

     

    2.3          
Interest.

     

    
      
        
        

      

      
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    (a)         Each Revolving
Loan shall bear interest for each day during each Interest Period with respect
thereto at a rate per annum equal to the sum of (a) LIBOR and (b) the Applicable
Spread.

     

    (b)         Subject
to Section 2.5, interest shall be payable on each Revolving Loan (i) in arrears
on each Interest Payment Date and (ii) on the date on which the principal amount
of such Revolving Loan becomes due and payable hereunder (whether at stated
maturity, by mandatory prepayment, optional prepayment, acceleration or
otherwise).

     

    (c)         Notwithstanding
anything herein to the contrary, all accrued interest shall be payable on each
date principal is payable hereunder pursuant to Sections 2.4 and 2.8 or such
earlier date as herein required.

     

    (d)         Interest
shall accrue from and including the first day of an Interest Period to but
excluding the last day of such Interest Period.

     

    (e)         In the
event, and on each occasion, that on the date two Business Days prior to the
commencement of any Interest Period during which any Revolving Loan accrues
interest at a rate based upon LIBOR, the Lender shall have in good faith
determined that Dollar deposits are generally not available in the London
interbank market, or that reasonable means do not exist for ascertaining LIBOR,
or that the rates at which such Dollar deposits are being offered will not
adequately and fairly reflect the cost of making or maintaining such Revolving
Loan at LIBOR during such Interest Period, the Lender shall, as soon as
practicable thereafter, give written or telecopy notice of such determination to
the Borrower.  In the event of any such determination, interest shall
accrue with respect to such Revolving Loan during such Interest Period at a rate
equal to the Federal Funds Rate plus the Applicable Spread.  Each
determination by the Lender hereunder shall be conclusive absent manifest
error.

     

    2.4          
Principal Repayment;
Note.

     

    (a)         The
Borrower shall repay the outstanding principal amount of all outstanding
Revolving Loans, together with all other outstanding amounts due and owing
hereunder or under the other Loan Documents, on the Maturity Date.

     

    (b)         The
Lender may request that the Revolving Loans be evidenced by a
Note.  In such event, the Borrower shall execute and deliver to the
Lender a Note payable to the order of the Lender, in a principal amount equal to
the Revolving Loans.  Thereafter, the Revolving Loans evidenced by
such Note and interest thereon shall at all times (including after assignment
pursuant to Section 8.3) be represented by one or more Notes in such form
payable to the order of the payee named therein.  The Lender is hereby
authorized by the Borrower to endorse on the schedule attached to a Note (or on
a continuation of such schedule attached to such Note and made a part thereof)
an appropriate notation evidencing the date and amount of the Revolving Loans
made by the Lender, the date and amount of each principal payment and prepayment
with respect thereto and the interest rate applicable thereto; provided, however, that the
failure of the Lender to make any such notation (or any error in such notation)
shall not affect any obligations of the Borrower hereunder or under any
Note.  The Notes and the books and records of the Lender shall be
conclusive evidence of the information set forth therein absent manifest
error.

     

    
      
        
        

      

      
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    2.5          
Default
Interest.  If
at any time any Event of Default occurs and is continuing, the principal,
interest, fees and all other amount payable hereunder or under any other Loan
Document shall bear interest, from the date such Event of Default occurred until
such Event of Default is fully cured or waived, payable on demand, at a rate
equal at all times to 15.00% per annum (the "Default
Rate").

     

    2.6          
Termination or Reduction of
Revolving Loan Commitment.

     

    (a)         Optional Termination or
Reduction.  The Borrower shall have the right at any time or
from time to time, without premium or penalty, upon not less than three Business
Days' prior irrevocable written notice to the Lender, to terminate or reduce the
Revolving Loan Commitment.  Any such reduction of the Revolving Loan
Commitment shall be in an amount that is an integral multiple of $10,000,000 and
not less than $10,000,000.  Any termination or reduction of the
Revolving Loan Commitment pursuant to this Section 2.6(a) shall be
permanent.

     

    (b)         Mandatory
Reduction and
Termination.  Upon
the consummation of a Qualified Transaction, the Revolving Loan Commitment shall
be reduced to zero, and any Revolving Loans outstanding in excess of the then
Revolving Loan Availability shall be prepaid in accordance with Section
2.7(b).  Any such reduction and termination of the Revolving Loan
Commitment pursuant to this Section 2.6(b) shall be permanent.

     

    2.7          
Prepayments.

     

    (a)         Optional
Prepayments.  The Borrower may, upon at least three (3)
Business Days' prior written notice to the Lender, prepay all or any portion of
the aggregate principal amount of the outstanding Revolving
Loans.  Each such prepayment shall be in an amount not less than
$10,000,000 or an integral multiple thereof and any portion of the Revolving
Loans may be designated by the Borrower to be prepaid if and only to the extent
that prepayment is made on an Interest Payment Date or subject to the payment of
amounts described in Section 7.1(d) and (e).  Each prepayment made
pursuant to this Section shall be accompanied by the payment of (i) accrued
interest to date of such prepayment on the amount prepaid and (ii) any and all
payments required pursuant to Section 7.1 in respect of such
prepayment.

     

    (b)         Mandatory
Prepayments.   If
at any time the outstanding amount of the Revolving Loans causes the Revolving
Loan Availability to be less than zero, the Borrower will immediately prepay the
Revolving Loans in an amount necessary to eliminate such
deficiency.

     

    
      
        
        

      

      
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    2.8          
Method of
Payment.

     

    (a)         Payments
Generally.  The Borrower shall make each payment required to be
made by it hereunder or under any other Loan Document (whether of principal,
interest, fees or reimbursement of amounts payable under Section 7.1, or
otherwise) by the time expressly required hereunder or under such other Loan
Document for such payment (or, if no such time is expressly required, by 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 Lender, be deemed to have been
received on the next succeeding Business Day for purposes of calculating
interest thereon.  Any prepayments made pursuant to Section 2.7 made
on a date other than an Interest Payment Date shall subject to the amounts
payable in Section 7.1(d) and (e).  The Borrower will make each
payment under this Credit Agreement to the Lender's Account in Dollars and in
immediately available funds, except that payments pursuant to Section 7.1 shall
be made directly to the Persons entitled thereto and payments pursuant to other
Loan Documents shall be made to the Persons specified therein.  All
payments under each Loan Document shall be made in Dollars.

     

    (b)         Any
payments shall be applied first to default charges, indemnities, expenses and
other non-principal and interest amounts owed under any of the Loan Documents,
if any, then to interest due and payable on the Revolving Loans, and thereafter
to the principal amount of the Revolving Loans due and payable.

     

    (c)         All
computations of interest and fees shall be made by the Lender on the basis of a
year of 365/6 days for the actual number of days (including the first day but
excluding the last day) occurring in the period for which such interest is
payable; provided, however, that if a
Revolving Loan is repaid on the same day on which it is made, one day's interest
shall be paid on such Revolving Loan.

     

    (d)         Whenever
any payment to be made hereunder or under any instrument delivered hereunder
shall be stated to be due on a day other than a Business Day, such payment shall
be made on the next succeeding Business Day, and such extension of time shall in
such case be included in the computation of the payment of interest; provided, however, that if such
extension would cause such payment to be made in a new calendar month or beyond
the Maturity Date, such payment shall be made on the immediately preceding
Business Day.

     

    2.9          
Loan
Account.  The
Lender will maintain on its books a loan account in the Borrower's name (the
"Loan
Account"), showing the Revolving Loans, prepayments, the computation and
payment of interest, and any other amounts due and sums paid hereunder and under
the other Loan Documents.  The entries made by the Lender in the Loan
Account shall be conclusive and binding on the Borrower as to the amount at any
time due from the Borrower, absent manifest error.

     

    2.10         Use of
Proceeds.  The
Borrower shall apply the proceeds of the Revolving Loans solely to
(a)­­­­­­­­­­­­­­­­­­­­­­­
fund working capital and other general corporate purposes of the Borrower and
(b) pay fees and expenses in connection with the transactions contemplated
hereby.

     

    2.11         Upfront
Fee.  On or prior to the initial Borrowing Date, the Borrower
shall pay to the Lender a non refundable upfront fee equal to 1.00% of the
Revolving Loan Commitment, which shall be deemed fully earned when
paid.

     

    
      
        
        

      

      
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    3.          
Representations and
Warranties.  The
Borrower hereby represents and warrants to the Lender as follows:

     

    3.1          
Organization.  The
Borrower is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware.  Each Subsidiary of the
Borrower is duly organized and existing and in good standing under the laws of
the jurisdiction of its organization.  Schedule 3.1 contains
a true and complete list of the Subsidiaries of the Borrower as of the date
hereof.

     

    3.2          
Power and
Authority.  Each
of the Borrower and its Subsidiaries has all requisite corporate power and
authority to carry on its present business, to own its property and assets and
to execute, deliver and perform this Credit Agreement, each Note, if any, and
each other Loan Document to which it is a party.  Each of the Borrower
and its Subsidiaries is duly qualified or licensed as a foreign corporation
authorized to conduct its activities and is in good standing in all
jurisdictions in which the character of the properties owned or leased by it or
the nature of the activities conducted makes such qualification or licensing
necessary, except where the failure to be so qualified or licensed would not be
reasonably likely to result in a Material Adverse Effect.

     

    3.3          
Authorization of
Borrowing.  All
appropriate and necessary corporate, shareholder and other actions and approvals
have been taken or obtained by the Borrower and each of its Subsidiaries to
authorize the execution and delivery of this Credit Agreement, each Note, if
any, and the other Loan Documents to which it is a party and to authorize the
performance and observance of the terms of each.

     

    3.4          
Agreement Binding; No
Conflicts.  This
Credit Agreement constitutes, and each Note, if any, and the other Loan
Documents when executed and delivered pursuant hereto will constitute, the
legal, valid and binding obligations of the Borrower or its Subsidiaries, as the
case may be, enforceable against the Borrower or such Subsidiaries in accordance
with their respective terms, except as may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting
enforcement of creditors' rights generally, and by general principles of equity
(regardless of whether enforcement is considered in a proceeding at law or
equity).  The execution, delivery and performance of this Credit
Agreement, the Notes, if any, and the other Loan Documents which the Borrower
and its Subsidiaries are a party and the use of the proceeds of the Revolving
Loans do not and will not (i) violate or conflict with (A) any provisions of law
or any order, rule, directive or regulation of any court or other Governmental
Authority, (B) the charter, by-laws or other organizational documents of the
Borrower or such Subsidiary or (C) except as would not be reasonably likely to
result in a Material Adverse Effect, any agreement, document or instrument to
which the Borrower or any such Subsidiary is a party or by which its respective
assets or properties are bound, (ii) except as would not be reasonably likely to
result in a Material Adverse Effect, constitute a default or an event or
circumstance that with the giving of notice or the passing of time, or both,
would constitute a default under any such agreement, document or instrument,
(iii) except as would not be reasonably likely to result in a Material Adverse
Effect, result in the creation or imposition of any Lien, charge or encumbrance
of any nature whatsoever upon any assets or properties of the Borrower or any
such Subsidiary, or (iv) except as would not be reasonably likely to result in a
Material Adverse Effect, result in any suspension, revocation, impairment,
forfeiture or nonrenewal of any permit, license, authorization or approval
applicable to its respective operations or any of its properties.

     

    
      
        
        

      

      
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    3.5        
  Compliance with
Law.  There
does not exist any conflict with, or violation, or breach of, any law or any
regulation, order, writ, injunction or decree of any court or governmental
instrumentality, which conflict, violation or breach could reasonably be
expected to result in a Material Adverse Effect.

     

    3.6          
Taxes.  The
Borrower and each of its Subsidiaries has filed all Tax returns required to be
filed and has paid all taxes, assessments, fees and other governmental charges
due upon it with respect to the conduct of its operations or otherwise the
failure of which to file or to pay could reasonably be expected to result in a
Material Adverse Effect, except to the extent that the Borrower or any
Subsidiary is contesting in good faith its obligation to pay such taxes or
charges and the Borrower or any such Subsidiary has adequately accrued for such
payments in accordance with and to the extent required by GAAP.  There
are no tax audits presently being conducted in respect of the Borrower or any of
its Subsidiaries that could reasonably be expected to result in a Material
Adverse Effect.

     

    3.7          
Governmental
Consents.  No
consent, approval, authorization or order of, notice to or declaration or filing
with, any administrative body or agency or other Governmental Authority on the
part of the Borrower or any of its Subsidiaries is required for the valid
execution, delivery and performance by the Borrower or any of its Subsidiaries
of this Credit Agreement, the Notes, if any, or the other Loan Documents, except
for such as have been obtained or made and are in full force and
effect.

     

    3.8          
Litigation.  There
are no pending or, to the knowledge of the Borrower, threatened legal actions,
suits, claims or administrative, arbitration or other proceedings against the
Borrower or any of its Subsidiaries that if adversely determined could
reasonably be expected to result in a Material Adverse Effect.

     

    3.9          
Other
Obligations.  None
of the Borrower or any of its Subsidiaries is in default in any material respect
in the performance, observance or fulfillment of any obligation, covenant or
condition in any agreement, document or instrument to which it is a party or by
which it is bound which is reasonably likely to result in a Material Adverse
Effect.

     

    3.10         Financial
Information.

     

    (a)         The
Borrower has heretofore furnished to the Lender its consolidated balance sheets,
its consolidated statements of earnings, its consolidated statements of cash
flows and its consolidated statements of stockholder's equity as of and for the
fiscal year ended February 2, 2008, reported on by Deloitte & Touche LLP,
independent registered public accounting firm, and (B) as of and for the fiscal
quarter and the portion of the fiscal year ended November 2,
2008.  Such financial statements present fairly, in all material
respects, the financial position and results of operations and cash flows of the
Borrower and its consolidated Subsidiaries as of such dates and for such periods
in accordance with GAAP, subject to year-end audit adjustments and the absence
of footnotes in the case of the statements referred to in clause (B)
above.

     

    
      
        
        

      

      
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    (b)         All other
financial information provided to the Lender by or on behalf of the Borrower and
its Affiliates has been prepared in accordance with GAAP and fairly presents, in
accordance with GAAP consistently applied, the financial position and results of
operations for the periods therein indicated, and, except as has been previously
disclosed to Lender prior to or on the date hereof, there has been no material
adverse change in the financial condition, operations, business or prospects
since February 2, 2008.

     

    3.11         Accuracy of
Information.  All
factual information heretofore or contemporaneously furnished by or on behalf of
the Borrower or any of its Subsidiaries to the Lender for purposes of or in
connection with this Credit Agreement, any other Loan Document or any
transaction contemplated hereby or thereby (true and complete copies of which
were furnished to the Lender in connection with its execution and delivery
hereof) is, and all other factual information hereafter furnished by or on
behalf of the Borrower or any of its Subsidiaries to the Lender will be, true
and accurate in every material respect on the date as of which such information
is dated or certified and, in respect of such information heretofore or
contemporaneously furnished to the Lender, as of the date of the execution and
delivery of this Credit Agreement by the Lender and such information is not, or
shall not be, as the case may be, incomplete by omitting to state any material
fact necessary to make such information not misleading.  With respect
to any such factual information pertaining to Persons other than the Borrower,
its Subsidiaries or its Affiliates, the foregoing representation is made to the
best knowledge of the Borrower.  All projections heretofore or
contemporaneously furnished by or on behalf of the Borrower or any of its
Subsidiaries to the Lender for purposes of or in connection with this Credit
Agreement or any transaction contemplated hereby have been prepared by the
Borrower or such Subsidiaries based upon estimates and assumptions stated
therein, all of which the Borrower believes to be reasonable and fair in light
of current conditions and current facts known to the Borrower and, as of the
Closing Date, reflect the Borrower's good faith and reasonable estimates of the
future financial performance of the Borrower and its Subsidiaries and of the
other information projected therein for the periods set forth therein; provided, however, that any and
all financial projections are subject to uncertainties and contingencies, many
of which are beyond the Borrower's control and no assurance is or can be given
that any financial projections or other results contemplated therein will be
realized.

     

    3.12         Seniority.  The
obligations of the Borrower and the Guarantors under this Credit Agreement and
the other Loan Documents to which it is a party rank, and at all times shall
rank, at least pari
passu in priority of payment and in all other respects with all other
unsecured Indebtedness of the Borrower and each of the Guarantors.

     

    3.13         Investment Company
Act.  Neither
the Borrower nor any of its Subsidiaries is an "investment company" or an
"affiliated person" or "promoter" of, or "principal underwriter" of or for, an "investment company", as such terms are defined in the Investment
Company Act of 1940, as amended.

     

    3.14         Permits,
Etc.  Each
of the Borrower and its Subsidiaries has all permits, consents, licenses,
authorizations, approvals, entitlements and accreditations required for it
lawfully to own, lease, manage or operate, or to acquire each business currently
owned, leased, managed or operated, or to be acquired, by it, except for
failures which are not reasonably likely to result in an Material Adverse
Effect.  No condition exists or event has occurred which, in itself or
with the giving of notice or lapse of time or both, would result in the
suspension, revocation, impairment, forfeiture or non-renewal of any such
permit, consent, license, authorization, approval, entitlement or accreditation
and which is reasonably likely to result in a Material Adverse Effect, a Default
or an Event of Default and there is no written claim that any such permit,
consent, license, authorization, approval, entitlement or accreditation is not
in full force and effect.

     

    
      
        
        

      

      
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    3.15         Environmental
Matters.  Except
to the extent not reasonably likely to result in a Material Adverse Effect, (i)
none of the operations of the Borrower or any of its Subsidiaries violate any
Environmental Law, (ii) no Environmental Actions have been asserted against the
Borrower or any of its Subsidiaries in writing nor does the Borrower have any
knowledge of any threatened or pending Environmental Action against the
Borrower, any of its Subsidiaries or any predecessor in interest, (iii) neither
the Borrower nor any of its Subsidiaries has incurred any Environmental
Liabilities and Costs and (iv) to the Borrower's knowledge, neither the Borrower
nor any of its Subsidiaries has any contingent liability in connection with any
release of any Hazardous Material into the environment.

     

    3.16         Solvency.  Each
of the Borrower and its Subsidiaries will be Solvent after giving effect to the
transactions contemplated by this Credit Agreement and the other Loan
Documents.

     

    3.17         ERISA; Margin
Regulations.  (a)  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.  The present value of all accumulated benefit obligations
under each Plan (based on the assumptions used for purposes of Statement of
Financial Accounting Standards No. 87) did not, as of the date of the most
recent financial statements reflecting such amounts, exceed the Fair Market
Value of the assets of such Plan by an amount that would reasonably be expected
to have a Material Adverse Effect, and the present value of all accumulated
benefit obligations of all underfunded Plans (based on the assumptions used for
purposes of Statement of Financial Accounting Standards No. 87) did not, as
of the date of the most recent financial statements reflecting such amounts,
exceed the Fair Market Value of the assets of all such underfunded Plans by an
amount that would reasonably be expected to have a Material Adverse
Effect.

     

    (b)         None of
the Borrower or any of its Subsidiaries is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of
buying or carrying Margin Stock.  No part of the proceeds of any
Revolving Loan will be used, whether directly or indirectly, and whether
immediately, incidentally or ultimately, in any manner or for any purpose that
would result in a violation by the Lender, the Borrower or such Subsidiary of
the regulations of the Board, including Regulation U or X.

     

    3.18         Properties; Intellectual
Property;
Eligible Credit
Card Receivables.  (a)  The
Borrower and each Subsidiary has good title to, or valid leasehold interests in,
all its material real and personal property free and clear of all Liens, except
for Permitted Liens and defects in title, in each case that do not interfere
with its ability to conduct its business as currently conducted or to utilize
such properties for their intended purposes.  The Borrower or any
Subsidiary, as applicable, owns good, marketable and indefeasible title to the
Mortgaged Properties in fee.

     

    
      
        
        

      

      
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    (b)         The
Borrower and each Subsidiary owns, or is licensed to use, all trademarks,
tradenames, copyrights, patents and other intellectual property material to its
business, and the use thereof by the Borrower and its Subsidiaries does not
infringe upon the rights of any other Person, except, in each case, for any
matters that, individually or in the aggregate, could not reasonably be expected
to result in a Material Adverse Effect.

     

    (c)         The
Mortgages, when properly recorded in the appropriate records, together with any
Uniform Commercial Code financing statements required to be filed in connection
therewith, will create valid, perfected first priority liens on the Mortgaged
Properties, as the case may be, subject only to Permitted Liens. The Permitted
Liens do not and will not materially adversely affect or interfere with the
value, or current use or operation, of the Mortgaged Properties, or the security
intended to be provided by the Mortgaged Properties or Borrower's or any
Subsidiary's ability to repay the Obligations in accordance with the terms of
the Loan Documents.

     

    (d)         As of the
end of the most recently completed month, the Borrower and the Guarantors
collectively own no less than $135 million in Credit Card Receivables of which
at least 90% are Eligible Credit Card Receivables (as such terms are defined in
the Security Agreement), in each case, free and clear of all Liens, except
Permitted Liens.

     

    3.19         Security Interest in
Collateral.  The provisions of this Agreement and the other
Loan Documents create legal and valid Liens on all the Collateral of the type in
which a security interest can be created under Article 9 of the Uniform
Commercial Code in favor of the Lender; and upon the proper filing of UCC
financing statements required pursuant to Section 5.1(a)(v)) and the Mortgages
with respect to the Mortgaged Properties, such Liens will constitute perfected
and continuing Liens on the Collateral (to the extent a security interest in
such Collateral and any proceeds of any item of Collateral can be perfected
through the filing of UCC financing statements), securing the Obligations,
enforceable against the Borrower and each Subsidiary, as applicable, and all
third parties, and having priority over all other Liens on the
Collateral.

     

    4.          
Covenants.  The
Borrower hereby covenants to the Lender that, during the term of this Credit
Agreement, or so long as (a) any amounts owed hereunder or under any other Loan
Document are outstanding or (b) this Credit Agreement and the other Loan
Documents have not been terminated, the Borrower shall, and shall cause each of
its Subsidiaries to, as applicable (unless the prior written consent of the
Lender has been obtained) perform the following obligations:

     

    
      
        
        

      

      
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    4.1          
Financial Statements; Proxy Statements;
Additional Information; Notices.

     

    (a)  Financial
Statements.  The Borrower shall deliver to the
Lender:

     

    (i)         within
120 days after the end of each fiscal year of the Borrower its consolidated
balance sheets as of the end of such fiscal year and the related consolidated
statements of earnings, consolidated statements of cash flows and consolidated
statements of stockholder's equity of the Borrower and its Subsidiaries, which
shall be in reasonable detail and shall be audited by independent certified
public accountants of nationally recognized standing selected by the Borrower
and reasonably satisfactory to the Lender, and as to which such accountants
shall have expressed a written opinion (without a "going concern" or like
qualification or exception and without any qualification or exception as to the
scope of such audit) that such statements fairly present the financial position
of the Borrower and its Subsidiaries for the period then ended and have been
prepared in accordance with GAAP, and that the examination of such accounts was
made in accordance with the Standards of Public Company Accounting Oversight
Board (United States) and accordingly included such tests of the accounting
records and such other auditing procedures as were considered necessary
under the circumstances;

     

    (ii)         as soon
as available and in any event within 60 days after the end of each fiscal
quarter of the Borrower commencing with the first fiscal quarter of the Borrower
ending after the Closing Date, consolidated balance sheets, consolidated
statements of earnings, consolidated statements of cash flows and consolidated
statements of stockholder's equity of the Borrower and its Subsidiaries as at
the end of such quarter, and for the period commencing at the end of the
immediately preceding fiscal year and ending with the end of such quarter,
setting forth in each case in comparative form the figures for the corresponding
date or period of the immediately preceding fiscal year, all in reasonable
detail and certified by an authorized officer of the Borrower as fairly
presenting, in all material respects, the financial position of the Borrower and
its Subsidiaries as of the end of such quarter and the results of operations and
cash flows of the Borrower and its Subsidiaries for such quarter, in accordance
with GAAP applied in a manner consistent with that of the most recent audited
financial statements of the Borrower and its Subsidiaries furnished to the
Lender, subject to normal year-end adjustments;

     

    (iii)         simultaneously
with the delivery of the financial statements of the Borrower and its
Subsidiaries required by clauses (i) and (ii) of this Section 4.1(a), a
certificate of an authorized officer of the Borrower stating that such
authorized officer has reviewed the provisions of this Credit Agreement and the
other Loan Documents and has made or caused to be made under his or her
supervision a review of the condition and operations of the Borrower and its
Subsidiaries during the period covered by such financial statements with a view
to determining whether the Borrower and its Subsidiaries were in compliance with
all of the provisions of this Credit Agreement and such Loan Documents at the
times such compliance is required hereby and thereby, and that such review has
not disclosed, and such authorized officer has no knowledge of, the existence
during such period of an Event of Default or Default or, if an Event of Default
or Default existed, describing the nature and period of existence thereof and
the action which the Borrower and its Subsidiaries propose to take or have taken
with respect thereto; and

     

    
      
        
        

      

      
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    (iv)        Within 30
days after the end of each fiscal month during the Revolving Commitment Period,
receipt by the Lender of a financial report of the Borrower and its consolidated
subsidiaries for such month, in form and substance reasonably satisfactory to
the Lender, including  a reasonably detailed calculation of the
Borrower's and each Subsidiaries Credit Card Receivables.

     

    (b)         Proxy Statements,
etc.  Promptly after the sending or filing thereof, the
Borrower will provide to the Lender copies of all proxy statements, financial
statements, and reports which the Borrower sends to its stockholders, and copies
of all regular, periodic, and special reports, and all registration statements
which the Borrower files with the Securities and Exchange Commission or any
governmental authority which may be substituted therefor, or with any national
securities exchange.

     

    (c)         Additional
Information.  The Borrower shall make available and provide to
the Lender such further information and documents concerning its business and
affairs including, without limitation, (i) the budgets and business plans of the
Borrower and its Subsidiaries and (ii) using commercially reasonable efforts to
provide to the Lender information with respect to accountant's letters, in each
case as the Lender may from time to time reasonably request.

     

    (d)         Notices.  The
Borrower shall promptly notify the Lender of:

     

    (i)         
 any
investigation by or proceeding in or before any court, arbitrator,
administrative body or agency or other Governmental Authority (other than
routine inquiries by a governmental agency), including, without limitation, any
Environmental Action, which investigation, proceeding or action is reasonably
likely to result in a Material Adverse Effect, Default or Event of Default and,
upon request, provide the Lender with all material documents and information
furnished by the Borrower or any Subsidiary in connection
therewith;

     

    (ii)         the
occurrence of any Default or Event of Default or any other development which is
reasonably likely to result in a Material Adverse Effect, which notice shall be
provided to the Lender as soon as possible, but in no event later than five (5)
days after the Borrower or any Subsidiary becomes aware of the same and shall
include a statement as to what action the Borrower or such Subsidiary has taken
and/or proposes to take with respect thereto;

     

    (iii)         any
change in the Borrower's key management personnel, including without limitation,
its President, Controller or Treasurer; and

     

    (iv)         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.

     

    4.2          
Compliance with Laws,
Etc.  The Borrower shall and shall cause each of its
Subsidiaries to comply in all material respects with the requirements of all
applicable laws (including, without limitation, any Environmental Law) and
maintain and preserve its corporate existence and, except to the extent that the
failure to do so could not reasonably be expected to have a Material Adverse
Effect, rights and privileges.

     

    
      
        
        

      

      
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    4.3          
Books and
Records.  The Borrower shall and shall cause each of its
Subsidiaries to keep and maintain adequate records and books of account, with
complete entries made in accordance with GAAP, consistently
applied.

     

    4.4          
Inspection
Rights.  The Borrower shall and shall cause each of its
Subsidiaries to permit the Lender or any of its agents and representatives at
any time and from time to time during reasonable business hours and, provided no
Default or Event of Default has occurred and is continuing, on reasonable prior
notice to the Borrower, to examine and make copies of and abstracts from its
records and books of account, to visit and inspect its properties, to conduct
audits and make examinations and discuss its affairs, finances and accounts with
any of its directors, officers, employees, accountants or other
representatives.

     

    4.5          
Maintenance of Property;
Compliance with Legal Requirements; Eligible Credit Card
Receivables.

     

    (a)         Borrower
will keep the Mortgaged Properties in good working order and repair, reasonable
wear and tear excepted.  Borrower shall from time to time make, or cause to
be made, all reasonably necessary and desirable repairs, renewals, replacements,
betterments and improvements thereto.  Borrower shall comply with, and
shall cause the Mortgaged Properties to be operated, maintained, repaired and
improved in compliance in all material respects with, all requirements of
applicable law and insurance.

     

    (b)         Borrower
shall ensure that at least $135 million of Credit Card Receivables are owed to
the Borrower and the Guarantors and that at least 90% of such Credit Card
Receivables are Eligible Credit Card Receivables (as such terms are defined in
the Security Agreement), measured as of the last day of any calendar month, and
are possessed by the Borrower and the Guarantors, in each case, free and clear
of all Liens, except Permitted Liens.

     

    4.6          
Insurance.  The
Borrower shall maintain or cause to be maintained, and cause each of its
Subsidiaries to maintain or cause to be maintained (in each case in the
Borrower's name or in the name of such Subsidiary, as the case may be), with
responsible, financially sound and reputable insurance companies insurance with
respect to its properties and business against such casualties and contingencies
and of such types and in such amounts as is customary in the case of similar
businesses.

     

    4.7          
Taxes.  The
Borrower shall and shall cause each of its Subsidiaries to timely pay and
discharge all material taxes, assessments, levies and governmental charges upon
it or against any of its properties, assets or income except to the extent that
the Borrower or any Subsidiary, as applicable, shall be contesting in good faith
its obligation to pay such taxes or charges and the Borrower or such Subsidiary,
as applicable, has adequately accrued for such payments in accordance with and
to the extent required by GAAP.

     

    
      
        
        

      

      
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    4.8          
Further
Assurances.

     

    (a)         The
Borrower shall do, and shall cause each of its Subsidiaries to, execute,
acknowledge and deliver at the sole cost and expense of the Borrower or its
Subsidiaries, all documents, financing statements, instruments and agreements
and take such further acts (including the filing and recording of financing
statements and other documents) and deeds as the Lender may reasonably
require from time to time to carry out the intention or facilitate the
performance of the terms of this Credit Agreement or any other Loan Document or
to grant, preserve, protect or perfect the Liens created or intended to be
created by the Collateral Documents or the validity or priority of any such
Lien, all at the expense of the Borrower.  The Borrower also agrees to
provide to the Lender, from time to time upon request, evidence reasonably
satisfactory to the Lender as to the perfection and priority of the Liens
created or intended to be created by the Collateral Documents.

     

    (b)         If any
material assets which would otherwise constitute Collateral are acquired by the
Borrower or any Guarantor after the Closing Date (other than assets constituting
Collateral under the applicable Collateral Document that become subject to the
Lien of such Collateral Document upon acquisition thereof), the Borrower will
notify the Lender thereof, and will cause such assets to be subjected to a Lien
securing the Obligations and will take such actions as shall be necessary or
reasonably requested by the Lender to grant and perfect such Liens, including
actions described in paragraph (a) of this Section 4.8, all at the expense of
the Borrower.

     

    4.9          
Merger, Consolidation,
etc.  The Borrower shall not and shall cause each of its
Subsidiaries not to:

     

    (a)         merge,
consolidate or amalgamate with or into any other Person unless:  (i)
the Borrower is the surviving entity, (ii) the Borrower provides the Lender with
at least 30 days' prior written notice thereof, (iii) the documentation in
connection therewith is reasonably satisfactory in form and substance to the
Lender, (iv) the Borrower provides the Lender with such documents, certificates
and opinions as the Lender may reasonably request, in form and substance
reasonably satisfactory to the Lender, including, without limitation, a legal
opinion given by counsel reasonably satisfactory to the Lender regarding the
legal, valid and binding nature of the Loan Documents and the enforceability
thereof and such other matters as the Lender may reasonably request, and (v) no
Material Adverse Effect or any Default or Event of Default shall occur and be
continuing both immediately before and immediately after such merger,
consolidation or amalgamation;

     

    (b)         dissolve,
wind-up or liquidate; provided, that, any Subsidiary
may be dissolved or liquidated if the board of directors of the Borrower
determines in good faith such liquidation or dissolution is in the best
interests of the Borrower and not materially disadvantageous to the
Lender;

     

    (c)         purchase
or otherwise acquire all or substantially all of the assets, liabilities or
properties of any other Person; provided, that, the Borrower or
any wholly-owned Guarantor may acquire all or substantially all of the assets,
liabilities or properties of any wholly-owned Guarantor; or

     

    
      
        
        

      

      
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    (d)         Dispose
of all or substantially all of its non-"Margin Stock" (as
defined in Regulation U of the Board) assets or properties whether in any single
transaction or one or more transactions in the aggregate; except to the Borrower
or any wholly-owned Guarantor.

     

    4.10         Change in Nature of
Business.  The Borrower shall not and shall cause each of its
Subsidiaries not to make any material changes in the nature of its business
activities as presently conducted to the extent reasonably likely to result in a
Material Adverse Effect.

     

    4.11         Transactions with
Affiliates.  The Borrower shall not and shall cause each of its
Subsidiaries not to enter into any transaction with any of its Affiliates (other
than between or among Borrower and/or one or more wholly-owned Guarantors),
unless such transaction is otherwise permitted hereunder or is in the ordinary
course of business of the Borrower or such Subsidiary, as applicable, and upon
fair and reasonable terms no less favorable to the Borrower or such Subsidiary,
as applicable, than it would obtain in a comparable arm's length transaction
with a Person which is not an Affiliate.

     

    4.12         Corporate
Documents.  The Borrower shall not and shall cause each of its
Subsidiaries not to amend its certificate of incorporation in any manner which
is reasonably likely to materially adversely affect the Lender's rights under
any of the Loan Documents or the Lender's ability to enforce any such
rights.

     

    4.13         Fiscal
Year.  The Borrower shall not and shall cause each of its
Subsidiaries not to permit its fiscal year to end on a day other than the first
Saturday between January 28th and February 3rd of any given year.

     

    4.14         USA PATRIOT Act
Compliance.  The Borrower shall provide, and shall cause each
of its Subsidiaries and Affiliates to provide, such information and take such
actions as are reasonably requested by the Lender in order to assist the Lender
in maintaining compliance with the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of
2001 (as amended, the "USA Patriot Act") or
similar laws and the rules and regulations promulgated thereunder, in each case,
as the same may be in effect from time to time.

     

    4.15         Seniority.  The
obligations of the Borrower and each of the Guarantors under this Credit
Agreement and the other Loan Documents to which it is a party shall at all times
rank at least pari
passu in priority of payment and in all other respects with all other
unsecured senior Indebtedness of the Borrower and each of the
Guarantors.

     

    4.16         Liens,
Etc.  The Borrower shall not, and shall not permit its
Subsidiaries to, create, incur, assume or suffer to exist any Lien upon or with
respect to any of its properties, whether now owned or hereafter acquired; file
or suffer to exist under the Uniform Commercial Code or any similar law or
statute of any jurisdiction, a financing statement (or the equivalent thereof)
that names it or any of its Subsidiaries as debtor; sign or suffer to exist any
security agreement authorizing any secured party thereunder to file such
financing statement (or the equivalent thereof); sell any of its property or
assets subject to an understanding or agreement, contingent or otherwise, to
repurchase such property or assets (including sales of accounts receivable other
than in connection with collection of defaulted accounts receivable) with
recourse to it or any of its Subsidiaries or assign or otherwise transfer; or
permit any of its Subsidiaries to assign or otherwise transfer, any account or
other right to receive income, other than, as to all of the above, Permitted
Liens.

     

    
      
        
        

      

      
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    4.17         Indebtedness.  The
Borrower shall not, and shall not permit its Subsidiaries to, create, incur,
assume, guarantee or suffer to exist, or otherwise become or remain liable with
respect to, or permit any of its Subsidiaries to create, incur, assume,
guarantee or suffer to exist or otherwise become or remain liable with respect
to, any Indebtedness other than Permitted Indebtedness.

     

    4.18         Restricted
Payments.  The Borrower shall not, and shall not permit any of
its Subsidiaries to, declare or make, or agree to pay or make, directly or
indirectly, any Restricted Payment, except (i) the Borrower may declare and pay
dividends with respect to its Capital Stock payable solely in additional shares
of its common stock, (ii) any Subsidiary may declare and pay dividends to the
Borrower or, in the case of any Subsidiary that is wholly owned by another
Subsidiary, to such other Subsidiary, (iii) the Borrower may make Restricted
Payments pursuant to and in accordance with stock option plans or other benefit
plans for management or employees of the Borrower and its Subsidiaries, and (iv)
netting shares under employee benefit plans to settle option price payments owed
by employees and directors with respect thereto and settling employees' and
directors' federal, state and income tax liabilities (if any) related
thereto.

     

    4.19         Loans, Advances,
Investments, Etc.  The Borrower shall not, and shall not permit
its Subsidiaries to, make or commit or agree to make any loan, advance,
guarantee of obligations, other extension of credit or capital contributions to,
or hold or invest in or commit or agree to hold or invest in, or purchase or
otherwise acquire or commit or agree to purchase or otherwise acquire any shares
of the Capital Stock, bonds, notes, debentures or other securities of, or make
or commit or agree to make any other investment in, any other Person, or
purchase or own any futures contract or otherwise become liable for the purchase
or sale of currency or other commodities at a future date in the nature of a
futures contract, or permit any of its Subsidiaries to do any of the foregoing,
except for: 

     

    (a)         investments
existing on the date hereof, as set forth on Schedule 4.19 hereto, but not any
increase in the amount thereof as set forth in such Schedule or any other
modification of the terms thereof;

     

    (b)         loans,
advances and other investments by the Borrower to any wholly-owned Guarantor, by
any such wholly-owned Guarantor to the Borrower or by any such wholly-owned
Guarantor to any other such wholly-owned Guarantor, made in the ordinary course
of business and, which such loans, advances or investments, when aggregated with
all loans, advances and investments made to Excluded Subsidiaries under
clause (iii) below, does not exceed in the aggregate for the Borrower and all of
its Subsidiaries at any one time outstanding $50,000,000 (calculated on the
basis of the actual amount of all such loans, advances and investments (net of
any amounts repaid to the Borrower or such Subsidiaries) and without regard to
any increase or decrease in the value thereof or to any write off, write down or
other similar reduction);

     

    
      
        
        

      

      
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    (c)         loans,
advances and other investments by the Borrower to any Excluded Subsidiary, by
any Excluded Subsidiary to the Borrower or by any such Excluded Subsidiary to
any other such Excluded Subsidiary, made in the ordinary course of business and
not exceeding in the aggregate for the Borrower and all of the Excluded
Subsidiaries at any one time outstanding $10,000,000, plus the value of
inventory advanced to such Excluded Subsidiaries in the ordinary course of
business (and receivables/payables related to such inventory) (calculated on the
basis of the actual amount of all such loans, advances and investments (net of
any amounts repaid to the Borrower or such Excluded Subsidiaries) and without
regard to any increase or decrease in the value thereof or to any write off,
write down or other similar reduction);

     

    (d)         loans,
advances and other investments by the Borrower to any wholly-owned Guarantor, by
any such wholly-owned Guarantor to the Borrower or by any such wholly-owned
Guarantor to any other such wholly-owned Guarantor, made pursuant to a Qualified
Transaction; and

     

    (e)         Permitted
Investments.

     

    4.20         Sale/Leaseback
Transactions.  Except for sale/leaseback transactions entered
into in the ordinary course of business with respect to a retail location, the
Borrower will not, and will not permit any of its Subsidiaries to, enter into
any arrangement, directly or indirectly, whereby it shall sell or transfer any
property, real or personal, used in its business, whether now owned or hereafter
acquired, and thereafter rent or lease such property or other property that it
intends to use for substantially the same purpose or purposes as the property
sold or transferred.

     

    4.21         Asset
Dispositions.  The Borrower will not, and will not permit any
of its Subsidiaries to Dispose of any asset which has a Fair Market Value in
excess of $1,000,000, including any Capital Stock owned by it, nor will the
Borrower permit any of its Subsidiaries to issue any additional Capital Stock in
such Subsidiary, except:

     

    (a)         (i) sales
of inventory in the ordinary course of business on ordinary business terms and
(ii) sales, transfers, licenses, leases or other dispositions of the Tilton
Property or other used, surplus, obsolete or worn-out assets (including real
property) and Permitted Investments in the ordinary course of
business;

     

    (b)         sales,
transfers, licenses, leases or other dispositions of assets (including Capital
Stock) or issuances of any additional Capital Stock by Borrower to any
wholly-owned Subsidiaries, by any such wholly-owned Subsidiary to Borrower, and
by any such wholly-owned Subsidiary to any other such wholly-owned Subsidiary,
including pursuant to a Qualified Transaction; provided, that, any such
dispositions to a Subsidiary shall be made in compliance with Section
4.11;

     

    (c)         sales
transfers, licenses, leases or other dispositions deemed to occur as a result of
the creation of Liens permitted by Section 4.16;

     

    (d)         sale/leasebacks
permitted by Section 4.20; and

     

    
      
        
        

      

      
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    (e)         the
termination, surrender or sublease of a real estate lease of the Borrower or any
of its Subsidiaries.

     

    4.22         Capital
Expenditures.  The Borrower will not, nor will it permit any
Subsidiary to contract for, purchase or make any expenditure or commitments for
Capital Expenditures in any fiscal year in excess of the amount contained in a
budget approved by the Lender.

     

    4.23         Subordinated
Debt.  The Borrower will not, nor will it permit any Subsidiary
to, make or agree to make, directly or indirectly, any payment or other
distribution (whether in cash, securities or other property) of or in respect of
principal of or interest on any Subordinated Debt or other Indebtedness
expressly subordinated in right of payment to the obligations of the Borrower
hereunder, including any sinking fund or similar deposit with respect to any of
them, or any prepayment, purchase, redemption, retirement, acquisition,
cancellation or termination of any such Subordinated Debt or other Indebtedness
prior to its scheduled maturity, except regularly scheduled interest payments,
as and when due (other than interest payments prohibited by the subordination
provisions thereof).

     

    4.24         Formation of
Subsidiaries.  At the time that the Borrower forms any direct or
indirect Domestic Subsidiary (other than a Subsidiary formed in connection with
a Qualified Transaction) or acquires any direct or indirect Domestic Subsidiary
after the Closing Date, the Borrower shall within 30 days of such formation or
acquisition cause any such new Subsidiary to become a party to (i) the Guaranty
by executing a Guaranty Agreement Supplement in the form provided in the
Guaranty and (ii) each applicable Collateral Document in the manner provided
therein and promptly take such actions to create and perfect Liens on such
Material Subsidiary’s assets that would otherwise constitute Collateral to
secure the Obligations as any Agent shall reasonably
request.  Notwithstanding the foregoing, if the Borrower does not
Dispose of J. Jill on or prior to December 31, 2009, then the Borrower shall
cause each of J. Jill, GP, J. Jill, LLC and Birch Pond Realty Corporation to
become parties to the Guaranty within thirty days thereafter.

     

    4.25         Negative Pledge
Clauses.  The
Borrower shall not, and shall cause each of its Subsidiaries not to, enter into
or suffer to exist or become effective any agreement that prohibits or limits
the ability of any the Borrower or any Subsidiary to create, incur, assume or
suffer to exist any Lien upon any of its property or revenues, whether now owned
or hereafter acquired, other than (i) this Credit Agreement and the other Loan
Documents, (ii) customary non-assignment provisions in licenses or sublicenses
of intellectual property and (iii) any agreements governing any purchase money
Liens or Capital Lease Obligations otherwise permitted hereby (in which case,
any prohibition or limitation shall only be effective against the assets
financed thereby).

     

    4.26         Clauses Restricting
Subsidiary Distributions.  The
Borrower shall not, and shall cause each of its Subsidiaries not to, enter into
or suffer to exist or become effective any consensual encumbrance or restriction
on the ability of any Subsidiary of the Borrower to (i) make Restricted Payments
in respect of any Capital Stock of such Subsidiary held by, or pay any
Indebtedness owed to, the Borrower or any other Subsidiary of the Borrower, (ii)
make loans or advances to, or other investments in, the Borrower or any other
Subsidiary of the Borrower or (iii) transfer any of its assets to the Borrower
or any other Subsidiary of the Borrower, except for such encumbrances or
restrictions existing under or by reason of (A) any restrictions existing under
the Loan Documents, (B) any restrictions with respect to a Subsidiary imposed
pursuant to an agreement that has been entered into in connection with the
Disposition of all or substantially all of the Capital Stock or assets of such
Subsidiary and (C) contractual encumbrances or restrictions in effect on the
Closing Date under Indebtedness existing on the Closing Date.

     

    
      
        
        

      

      
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    5.          
Conditions
Precedent.

     

    5.1          
Conditions Precedent to the
Closing.  The
obligation of the Lender to make the Revolving Loans is subject to the prior
fulfillment of the following conditions:

     

    (a)         Documents.  The
Lender shall have received the following, each in form and substance
satisfactory to the Lender:

     

    (i)         
Executed
Agreement.  This Credit Agreement, duly executed by an
authorized officer of the Borrower.

     

    (ii)         Note.  To
the extent requested by the Lender, the Lender (or its counsel) shall have
received a Note, in the amount of the Revolving Loan, duly executed by an
authorized officer of the Borrower.

     

    (iii) 
  Officer's
Certificate.  A certificate of an authorized officer of each of
the Borrower and each Guarantor, substantially in the form of Exhibit B hereto,
certifying, among other things, as to (w) the organizational documents and
by-laws of such Person, (x) resolutions of the board of directors of such Person
(or a committee of the board of directors authorized to approve this
transaction) authorizing such Person to execute, deliver and perform this Credit
Agreement, each Note, if any, and each other Loan Document to which it is a
party; (y) the names and signatures of the officers of such Person authorized to
execute this Credit Agreement, each Note, if any, and each other Loan Documents
to which it is a party; and (z) the absence of any amendment or modification to
any of the attached organizational documents or by-laws (or the equivalent
thereof), if any, of such Person since the date of the most recent certification
thereof.

     

    (iv) 
  Executed
Guaranty.  The Guaranty, duly executed by an authorized officer
of each of the Guarantors.

     

    (v)  
 
Lien
Searches.  The results, dated as of a recent date prior to the
Closing Date, of searches conducted in each applicable governmental offices in
each jurisdiction in which filings would be made to perfect a Lien over the
Collateral, which in each case shall have revealed no Liens with respect to any
of the Collateral except Permitted Liens or Liens as to which the Lender
shall have received (and is authorized to file) termination statements or
similar documents as shall be required by applicable law to terminate such Liens
fully executed for filing.

     

    
      
        
        

      

      
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    (vi) 
  Opinion of Counsel to the
Borrower.  A favorable written opinion of Dewey & LeBoeuf
LLP, counsel for the Borrower, in form and substance reasonably satisfactory to
the Lender and covering such matters relating to the Borrower and the
Guarantors, the Loan Documents and such other matters reasonably requested by
the Lender.

     

    (vii)
  Good
Standing.  A certificate of the appropriate official(s) of the
state of organization of the Borrower and each of the Guarantors certifying as
of a recent date not more than 30 days prior the Closing Date as to the
subsistence in good standing of, and the payment of taxes by, the Borrower and
such Guarantor in such states.

     

    (viii)  Existing
Indebtedness.  Evidence that the Borrower's Indebtedness
existing on the Closing Date is in full force and effect, without amendment or
modification thereto in a manner adverse to the Lender in any material
respect.

     

    (ix)         Other
Items.  Such other agreements, instruments, approvals, opinions
and documents as the Lender may reasonably request.

     

    (b)         Legality.  The
making of the Revolving Loans and the consummation of the transactions
contemplated hereunder shall not contravene any law, rule or regulation
applicable to the Lender, the Borrower or any of its Subsidiaries.

     

    (c)         Representations and
Warranties.  All of the representations and warranties
contained in Section 3 of this Credit Agreement, in each other Loan Document and
in each certificate and other writing delivered to the Lender pursuant hereto or
thereto on or prior to the Closing Date shall be true and correct in all
material respects as though made on and as of such date.

     

    (d)         Defaults; Material Adverse
Effect.  No Default or Event of Default shall have occurred and
be continuing on the Closing Date or would result from making the Revolving
Loans.  No Material Adverse Effect shall have occurred and be
continuing since February 2, 2008 or would result from making any Revolving
Loan.

     

    (e)         Proceedings.  There
shall not exist any threatened or pending action, proceeding or counterclaim by
or before any court or governmental, administrative or regulatory agency or
authority, domestic or foreign, (i) challenging the consummation of the
transactions contemplated hereby or which would restrain, prevent or impose
burdensome conditions on any transaction contemplated hereunder, which could
reasonably be expected to have a Material Adverse Effect, (ii) seeking to
prohibit the ownership or operation by the Borrower of any of its Subsidiaries
of all or a material portion of its business or assets which could reasonably be
expected to have a Material Adverse Effect, or (iii) seeking to obtain, or
having resulted in the entry of any judgment, order or injunction that (A) would
restrain, prohibit or impose adverse conditions on the ability of the Lender to
make the Revolving Loans, (B) could reasonably be expected to affect the
legality, validity or enforceability of any of the Loan Documents or the ability
of any party thereto to perform its obligations thereunder or (C) is seeking any
material damages as a result thereof.

     

    
      
        
        

      

      
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    (f)         Approvals.  Other
than as contemplated by Section 5.2(f), all consents, authorizations and
approvals of, and filings and registrations with, and all other actions in
respect of, any Governmental Authority or other Person required in connection
with the making of the Revolving Loans or the conduct of business of the
Borrower and its Subsidiaries shall have been obtained and shall be in full
force and effect.

     

    5.2          
Conditions Precedent to
Revolving Loans. The obligation
of the Lender to make Revolving Loans after the Closing Date and prior to the
Maturity Date shall, in addition to the fulfillment of the conditions set forth
in Section 5.1 above, be subject to the following:

     

    (a)         Notice of Borrowing.
The Lender shall have received a Notice of Borrowing, duly executed by an
authorized officer of the Borrower as required under Section 2.2
hereof.  The submission by the Borrower of such Notice of Borrowing to
the Lender and the Borrower's acceptance of the proceeds of such subsequent
Revolving Loans shall be deemed to be a representation and warranty by the
Borrower that all of the applicable conditions precedent set forth herein have
been satisfied.

     

    (b)         Documents.  The
Lender shall have received the following, each in form and substance
satisfactory to the Lender:

     

    (i)         
Mortgages.   Each
of the Mortgages, duly executed by the Borrower and each Subsidiary a party
thereto.  Each document (including any UCC financing statement)
required by the Mortgages or under law or reasonably requested by the Lender to
be filed, registered or recorded in order to create in favor of the Lender, a
perfected Lien on the Collateral described therein, prior and superior in right
to any other Person (other than with respect to Permitted Liens), shall be in
proper form for filing, registration or recordation. The Lender shall have a
security interest in the Collateral of the type and priority described in the
Mortgages (subject only to Permitted Liens.

     

    (ii)         Security
Agreement.   The Security Agreement, duly executed by the
Borrower and each Subsidiary a party thereto.  Each document
(including any UCC financing statement) required by the Security Agreement or
under law or reasonably requested by the Lender to be filed, registered or
recorded in order to create in favor of the Lender, a perfected Lien on the
Collateral described therein, prior and superior in right to any other Person
(other than with respect to Permitted Liens), shall be in proper form for
filing, registration or recordation. The Lender shall have a security interest
in the Collateral of the type and priority described in the Security Agreement
(subject only to Permitted Liens).  

     

    (iii)         Other
Items.  Such other agreements, instruments, approvals, opinions
and documents as the Lender may reasonably request.

     

    
      
        
        

      

      
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    (c)         Fees and Expenses.
The Lender shall have received all of the fees, costs and expenses that are then
due and payable hereunder and under the other Loan Documents.

     

    (d)         Legality. The making
of such Revolving Loans and the consummation of the transactions contemplated
hereunder shall not contravene any law, rule or regulation applicable to the
Lender or the Borrower.

     

    (e)         Representations and
Warranties.  All of the representations and warranties
contained in Section 3 of this Credit Agreement, in each other Loan Document and
in each certificate and other writing delivered to the Lender pursuant hereto or
thereto on or prior to the Borrowing Date of such Revolving Loans shall be true
and correct in all material respects as though made on and as of such
date.

     

    (f)         
Consents and
Approvals.  All necessary consents and approvals to the
transactions contemplated hereby from each of the existing lenders to the
Borrower and its Subsidiaries, including the granting of the Liens in favor of
the Lender on the Collateral, shall have been obtained without the requirement
of prepayment or the establishment of a pari passu Lien on the
Collateral, and in form reasonably satisfactory to the Lender.

     

    (g)         Opinions of Counsel to the
Borrower.  A favorable written opinion of New York and
Massachusetts counsel for the Borrower, in form and substance reasonably
satisfactory to the Lender, and covering such matters relating to the Borrower
and the Guarantors, the Loan Documents and such other matters reasonably
requested by the Lender.

     

    (h)         Defaults.  No
Default, Event of Default or Material Adverse Effect shall have occurred and be
continuing on the date of such Revolving Loans or would result from making of
such Revolving Loans.

     

    (i)         
Availability.  After
giving effect to the making of such Revolving Loans, the Revolving Loan
Availability shall be not less than zero.

     

    6.          
Events of
Default.

     

    6.1          
Events of
Default.  Each
of the following events and occurrences shall constitute an "Event of Default"
under this Credit Agreement:

     

    (a)         The
Borrower or any Subsidiary shall fail to pay when due (whether by scheduled
maturity, required prepayment, acceleration, demand or otherwise) (i) any
principal of any Revolving Loan or any Note, or (ii) any interest on any
Revolving Loan or any Note, any fee, any indemnity or any other amount payable
hereunder or under any other Loan Document and any such failure referred to in
this clause (ii) shall continue for three (3) Business Days; or

     

    (b)         Any
representation or warranty made or deemed made by the Borrower or any Subsidiary
in any Loan Document or any certificate, report or other document delivered to
the Lender pursuant to any Loan Document shall have been incorrect or misleading
in any material respect when made or deemed made; or

     

    
      
        
        

      

      
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    (c)         The
Borrower or any Subsidiary shall fail to perform or shall violate any provision,
covenant, condition or agreement in Section 4 of this Credit Agreement (other
than 4.1, 4.2, 4.3, 4.4, 4.5, 4.6, 4.7, and 4.8) of this Credit Agreement;
or

     

    (d)         The
Borrower or any Subsidiary shall fail to perform or shall violate any provision,
covenant, condition or agreement of this Credit Agreement or any other Loan
Document on its part to be performed or observed (other than those set forth in
paragraphs (a), (b) and (c) of this Section 6.1) and such failure or violation
is not remediable or, if remediable and would not materially adversely impact
the Lender's Liens on the Collateral, continues unremedied for a period of
thirty (30) days after the earlier of (i) notice from the Lender or (ii) such
time as the Borrower or any Subsidiary becomes aware of the same;
or

     

    (e)         Any event
or condition shall occur (i) that results in the acceleration of the maturity of
any Indebtedness of the Borrower or any Subsidiary under any agreement, document
or instrument with respect to an aggregate amount of Indebtedness equal to or
greater than the Threshold Amount (or the equivalent thereof in any foreign
currency), or (ii) that after any grace period provided for therein enables the
holder of such Indebtedness or any Person acting on such holder's behalf to
accelerate the maturity thereof; or

     

    (f)         The
Borrower or any Subsidiary is adjudicated a bankrupt or insolvent, or admits in
writing its inability to pay its debts as they become due or makes an assignment
for the benefit of creditors, or ceases doing business as a going concern or
applies for or consents to the appointment of any receiver or trustee, or such
receiver, trustee or similar officer is appointed with the application or
consent of the Borrower or any Subsidiary, or bankruptcy, dissolution,
liquidation or reorganization proceedings (or proceedings similar in purpose and
effect) are instituted by the Borrower or any Subsidiary or are instituted
against (and not vacated or discharged within 60 days) the Borrower or any
Subsidiary; or

     

    (g)         Any money
judgment or warrant of attachment or similar process involving, individually or
in the aggregate, in excess of the Threshold Amount (or the equivalent thereof
in any foreign currency) shall be entered or filed against the Borrower or any
Subsidiary and shall remain undischarged, unvacated or unbonded for a period of
30 days; or

     

    (h)         The
validity or enforceability of this Credit Agreement or any other Loan Document
shall be contested by or on behalf of the Borrower or any Subsidiary; or a
proceeding shall be commenced by a Governmental Authority having jurisdiction
over the Borrower or any Subsidiary seeking to establish the invalidity thereof;
or the Borrower or any Subsidiary shall deny that it has any further liability
or obligation under any Loan Document to which it is a party; or  any
Collateral Document or financing statement after delivery thereof shall for any
reason (other than as permitted under any Collateral Document) cease to create a
valid and perfected Lien on and security interest in any material amount of the
Collateral purported to be covered thereby; or

     

    (i)         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.

     

    
      
        
        

      

      
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    6.2          
Consequence of
Default.  Upon
the occurrence of any Event of Default (i) described in subsection (f) of
Section 6.1, the Revolving Loan Commitment shall automatically be reduced to
zero and the outstanding amount of all Revolving Loans and all other amounts
payable hereunder, under any Note and under any other Loan Document shall
automatically become immediately due and payable, without presentment, demand,
protest or other requirement of any kind, all of which are hereby expressly
waived by the Borrower or (ii) described in any other subsection of Section 6.1
and during the continuance thereof, the Lender may, by notice of default given
to the Borrower, terminate the Revolving Loan Commitment and declare all of the
outstanding principal amount of the Revolving Loans and all other amounts
payable hereunder, under any Note and under any other Loan Document to be
immediately due and payable, whereupon the Revolving Loan Commitment shall be
terminated and the unpaid principal amount of any Note, together with accrued
interest thereon, and all such other amounts, shall be immediately due and
payable without presentment, protest, demand or other requirement of any kind,
each of which is hereby expressly waived by the Borrower.

     

    7.          
Additional Costs and
Expenses; Indemnity.

     

    7.1          
(a)  The
Borrower shall pay to (x) the Lender on demand all reasonable out-of-pocket
costs and expenses of the Lender actually incurred in connection with the
preparation, execution and delivery of this Credit Agreement, each Note and any
other Loan Documents or any amendment, modification or waiver of the provisions
hereof or thereof, and (y) the Lender all out-of-pocket costs and expenses
incurred in connection with:  (i) the negotiation of any
restructuring, work-out or renegotiation of any terms of this Credit Agreement,
any Note or any other Loan Documents or the obligations of the Borrower
hereunder or thereunder, (ii) the enforcement of the preservation or protection
of the Lender' rights under this Credit Agreement and the other Loan Documents
and (iii) the response to any subpoena or similar process compelling the
production of documents or other response in connection with this Credit
Agreement, any Note or any other Loan Documents, including without limitation,
in each case, the reasonable and actual fees and expenses of outside counsel for
the Lender, and the Borrower further agrees to indemnify the Lender and their
respective officers, directors and employees against any losses, damages, claims
and expenses arising out of the use or proposed use by the Borrower of any
Revolving Loan hereunder.  In addition, the Borrower agrees to defend,
indemnify and hold harmless the Lender and their respective officers, directors
and employees from and against any losses, damages, liabilities, obligations,
penalties, fees, costs and expenses, including without limitation, the
reasonable and actual fees and expenses of outside counsel for the Lender,
arising out of or relating to the negotiation, preparation, execution, delivery
and performance and administration of this Credit Agreement and the other Loan
Documents, and the consummation of the transactions contemplated hereunder and
thereunder and any claim, litigation, investigation or proceeding relating to
any of the foregoing including, without limitation, all Environmental
Liabilities and Costs arising from or in connection with:  (i) the
past, present or future operations of the Borrower or any of its Subsidiaries
involving any damage to real or personal property or natural resources or harm
or injury alleged to have resulted from any release of Hazardous Materials, (ii)
any Environmental Action or (iii) a breach by the Borrower or any of its
Subsidiaries of any Environmental Law; provided, however, that none of
the foregoing indemnity obligations of the Borrower shall extend to any
liability, obligation, loss, damage, penalty, claim, action, suit, cost, expense
or disbursement to the extent resulting from the willful misconduct or gross
negligence of the Lender as determined by a final non-appealable judgment of a
court of competent jurisdiction. 

     

    
      
        
        

      

      
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    (b)         If any
future applicable law, regulation or directive, or any change of any existing
law, regulation or directive or in the interpretation thereof, or compliance by
the Lender with any request or requirement (whether or not having the force of
law) of any relevant central bank or other comparable agency, imposes, modifies
or deems applicable any reserve, special deposit, premium, assessment or similar
requirement against assets held by, or deposits in or for the account of, or
advances or loans by, or any other acquisition of funds by the Lender, any
capital adequacy standard or other condition with respect to this Credit
Agreement, any Note or any other Loan Document, and the result of any of the
foregoing is to increase the cost to the Lender of maintaining advances or
credit or to reduce any amount receivable in respect thereof, then the Lender
may notify the Borrower, and the Borrower shall pay within five (5) Business
Days of the date of such notice such amount as the Lender may specify to be
necessary to compensate the Lender for such reduced receipt, together with
interest on such amount from the date demanded until payment in full thereof at
the same rate applicable to the Revolving Loans.  The determination by
the Lender of any amount due under this Section 7.1(b) as set forth in a
certificate setting forth the calculation thereof in reasonable detail, shall,
in the absence of manifest error, be conclusive evidence thereof.

     

    (c)         If, after
the date hereof, by reason of any applicable law or regulation or regulatory
requirement or the interpretation or application thereof, it shall become
unlawful or otherwise prohibited for the Lender to make or maintain its
Revolving Loan or any portion thereof or give effect to any of its obligations
or benefits as contemplated by this Credit Agreement and the other Loan
Documents, the obligation of the Lender to make, fund and maintain its Revolving
Loan or any portion thereof under this Credit Agreement shall be suspended until
the Lender shall notify the Borrower that the circumstances causing such
suspension no longer exist and the Borrower shall forthwith prepay to the Lender
the principal amount of the Revolving Loans owed to the Lender, together with
interest accrued thereon and all other amounts owed with respect
thereto.

     

    (d)         If, due
to any prepayment pursuant to Section 2.7 hereof or any acceleration of the
maturity of the Revolving Loans pursuant to Section 6 hereof or any other
prepayment hereunder, the Lender is subject to a change of interest rate on the
Revolving Loans or the Lender receives payment of principal of the Revolving
Loans other than as provided herein, the Borrower shall, promptly after demand
by the Lender, pay to the Lender any amounts required to compensate the Lender
for any additional losses, costs or expenses which it may reasonably incur as a
result of such change or payment, including, without limitation, any loss, cost
or expense incurred by reason of liquidation or reemployment of deposits or
other funds acquired by the Lender to fund or maintain the Lender's Revolving
Loans.  A certificate setting forth the amount of such additional
losses, costs or expenses submitted to the Borrower by the Lender shall, in the
absence of manifest error, be conclusive evidence thereof.

     

    
      
        
        

      

      
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    (e)         If, due
to any prepayment pursuant to Section 2.7 hereof or any acceleration of the
maturity of the Revolving Loans pursuant to Section 6 hereof or any other
prepayment hereunder other than on an Interest Payment Date, the Borrower shall,
promptly after demand by the Lender, pay to the Lender any amounts required to
compensate the Lender for any additional losses, costs or expenses which it may
reasonably incur in connection with the termination of any Hedging Agreements
with respect to the Revolving Loans.  A certificate setting forth the
amount of such additional losses, costs or expenses submitted to the Borrower by
the Lender shall, in the absence of manifest error, be conclusive evidence
thereof.

     

    (f)         Without
prejudice to the survival of any other agreement of the Borrower hereunder, the
agreements and obligations of the Borrower contained in this Section 7.1 shall
survive the payment in full of the principal, interest and all other amounts
under this Credit Agreement and under any other Loan Document and the
termination of this Credit Agreement and each other Loan Document.

     

    7.2          
Taxes.

     

    (a)         Any and
all payments made by the Borrower hereunder shall be made free and clear of and
without deduction for any present or future taxes, levies, imposts, deductions,
charges or withholdings, and all liabilities with respect thereto (all such
taxes, levies, imposts, deductions, charges, withholdings and liabilities, being
hereinafter referred to as "Taxes"), except as
otherwise required by law.  If and to the extent that Taxes are
required to be withheld from any payment, (i) other than Excluded Taxes, the
amount of such payment shall be increased to the extent necessary to cause the
Lender to receive (after the withholding of such Taxes) an amount equal to the
amount it would have received had the withholding of such Taxes not been
required, and (ii) the Borrower shall withhold such Taxes from such increased
payment and pay such Taxes to the relevant taxation authority or other authority
for the account of the Lender in accordance with applicable law.

     

    (b)         In
addition, the Borrower agrees to pay any present or future stamp or documentary
taxes or any other excise or property taxes, charges or similar levies which
arise from any payment made hereunder or under any other Loan Document or from
the execution, delivery or registration of, or otherwise with respect to, this
Credit Agreement or any other Loan Document, excluding taxes, for the
avoidance of doubt, on the overall net income of the Lender (hereinafter
referred to as "Other
Taxes").

     

    (c)         The
Borrower shall indemnify and agrees to hold harmless the Lender for the full
amount of Taxes or Other Taxes (including, without limitation, any Taxes or
Other Taxes imposed by any jurisdiction on amounts payable under this Section
7.2), other than Excluded Taxes, paid by the Lender or any liability (including
penalties, interest and expenses) arising therefrom or with
respect thereto, whether or not such Taxes or Other Taxes were correctly or
legally asserted.  This indemnification shall be made within five (5)
days after the date the Lender makes written demand therefor, specifying in
reasonable detail the basis, calculation and amount of such Taxes or Other Taxes
and any liabilities arising therefrom.

     

    (d)         Within 30
days after the date of the Borrower's payment or a payment on behalf of the
Borrower of any Taxes with respect to any payment due hereunder or under any
other Loan Document, the Borrower will furnish to the Lender, at its address
referred to in Section 8.6 hereof, the original or a certified copy of a receipt
evidencing payment thereof.

     

    
      
        
        

      

      
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    (e)         Without
prejudice to the survival of any other agreement of the Borrower hereunder, the
agreements and obligations contained in this Section 7.2 shall survive the
payment in full of the principal, interest and all other amounts under this
Credit Agreement and under any other Loan Document and the termination of this
Credit Agreement and each other Loan Document until the expiration of the
statute of limitations applicable to the subject Taxes.

     

    (f)         The
Lender agrees that, at the request of the Borrower, it will deliver to the
Borrower two properly completed and duly executed copies of Internal Revenue
Service form W-8BEN or any subsequent version thereof or successor thereto,
certifying that the Lender is entitled to a reduced rate of withholding from
United States backup withholding tax on payments pursuant to this Credit
Agreement (and shall deliver to the Borrower additional copies of the relevant
forms on or before the date that such form expires, and shall promptly notify
the Borrower of any form or other documentation previously submitted that
becomes incorrect).

     

    (g)         The
Borrower shall not be required to indemnify the Lender, or pay any additional
amounts to the Lender, in respect of Taxes and liabilities arising therefrom
pursuant to this Section 7.2 to the extent that the obligation to pay such
additional amounts would not have arisen but for a failure by the Lender to
comply with the provisions of clause (f) above.

     

    (h)         If the
Lender determines, in its sole discretion, that it has received a credit or
refund of any Taxes or Other Taxes as to which it has been indemnified by the
Borrower or with respect to which the Borrower has paid additional amounts, in
either case pursuant to this Section 7.2 it shall pay to the Borrower an amount
equal to such credit or refund recovered (but only to the extent of indemnity
payments made, or additional amounts paid, by the Borrower under this Section
with respect to the Taxes or Other Taxes giving rise to such refund or
recovery), net of all out-of-pocket expenses of the Lender and without interest
(other than any interest paid by the relevant Governmental Authority with
respect to such credit, refund or recovery); provided, however, that the
Borrower shall promptly repay the amount paid over to the Borrower to the Lender
in the event in the event the Lender is required to repay such refund to the
relevant Governmental Authority.  This Section 7.2(h) shall not be
construed to require the Lender to make available its tax returns (or any other
information that it deems confidential) to the Borrower or any other
Person.

     

    8.          
Miscellaneous.

     

    8.1          
Entire
Agreement.  This
Credit Agreement, the other Loan Documents and the documents referred to herein
and therein constitute the entire obligation of the parties with respect to the
subject matter hereof and shall supersede any prior expressions of intent or
understanding with respect to the transactions herein and therein
contemplated.

     

    8.2          
No Waiver; Cumulative
Rights.  The
failure or delay of the Lender to require performance by the Borrower of any
provision of this Credit Agreement shall not operate as a waiver thereof, nor
shall it affect the Lender' rights to require performance of such provision at
any time thereafter, nor shall it affect or impair any of the remedies, powers
or rights of the Lender with respect to any other or subsequent failure, delay
or default.  Each and every right granted to the Lender hereunder or
under any other Loan Document or in connection herewith or therewith shall be
cumulative and may be exercised at any time.

     

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

       

    

    8.3          
Assignment; Binding
Effect.

     

    (a)         Successors and
Assigns.  The provisions of this Credit Agreement shall be
binding upon and inure to the benefit of each of the parties hereto and its
successors and assigns permitted hereby, except that (i) the Borrower may
not assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of the Lender (and any attempted assignment or
transfer by the Borrower without such consent shall be null and void), it being
understood that mergers, consolidations and other corporate changes permitted by
Section 4.9 of this Credit Agreement shall not be deemed to be assignments for
purposes of this sentence, and (ii) (1) the Lender may assign to one or
more assignees (each, an "Assignee") all or a
portion of its rights and obligations under this Credit Agreement with notice to
the Borrower or (2) the Lender may at any time, with notice to the Borrower,
sell participations to any Person; provided, that if no
Default or Event of Default shall have occurred and be continuing, the prior
written consent of the Borrower (which shall not be unreasonably withheld) shall
be required.

     

    (b)         The
Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Credit Agreement to secure obligations of the
Lender, including 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 the Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for the Lender
as a party hereto.

     

    8.4          
GOVERNING LAW; JURY
TRIAL.  THIS
CREDIT AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE LAW
OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS
THEREOF.  THE BORROWER HEREBY WAIVES ANY RIGHT IT MAY HAVE TO A JURY
TRIAL IN CONNECTION WITH ANY ACTION RELATED TO THIS CREDIT AGREEMENT, ANY NOTE
EXECUTED PURSUANT HERETO OR ANY OTHER LOAN DOCUMENT.

     

    8.5          
Submission to
Jurisdiction.

     

    (a)         The
Borrower hereby irrevocably agrees that any legal action or proceedings against
it with respect to this Credit Agreement, any Note or any other Loan Document
may be brought in any court of the State of New York or any Federal Court of the
United States of America located in the City or State of New York, or both, as
the Lender may elect, and by execution and delivery of this Credit Agreement the
Borrower hereby submits to and accepts with regard to any such action or
proceeding service of process by the mailing of copies thereof by
registered or certified airmail, postage prepaid, to the Borrower at its address
set forth in Section 8.6 hereof.

     

    (b)         The
Borrower hereby irrevocably waives any objection which it may now or hereafter
have to the laying of the venue of any suit, action or proceeding arising out of
or relating to this Credit Agreement, any Note or any other Loan Document in the
State of New York and hereby further irrevocably waives any claim that the State
of New York is not a convenient forum for any such suit, action or
proceeding.

     

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

       

    

    (c)         To the
extent that the Borrower has or hereafter may acquire any immunity from
jurisdiction of any court or from any legal process (whether through service or
notice, attachment prior to judgment, attachment in aid of execution, execution
or otherwise) with respect to itself or its property, the Borrower hereby
irrevocably waives such immunity in respect of its obligations under this Credit
Agreement and any other Loan Document to which it is a party.

     

    8.6          
Notices.  Any
notice hereunder shall be in writing and shall be personally delivered,
transmitted by postage prepaid registered or certified mail or by overnight
mail, or transmitted by telephonic facsimile ("FAX") and electronic
mail ("EMAIL")to the parties
as follows:

     

    To the
Borrower:

     

    THE
TALBOTS, INC.

    One
Talbots Drive

    Hingham,
Massachusetts  02043

    Telephone:  (781)
749-7600

    FAX:  (781)
749-0865

    EMAIL:

    Attention:  Michael
Scarpa, CFO

     

    with a
copy (which shall not constitute notice) to:

     

    THE
TALBOTS, INC.

    211 South
Ridge Street

    Suite
100

    Rye
Brook, NY  10573

    Attn:
Richard T. O'Connell, Jr., Executive Vice President and General
Counsel

     

    To the
Lender:

     

    AEON CO.,
LTD.

    5-1,
1-chome, Nakase

    Mihama-ku,
Chiba-shi

    Chiba,
261-8515 Japan

    Telephone:  +81-043-212-6089

    FAX:
+81-043-212-6813

    EMAIL:  h_wakabaya@aeon.biz

    Attention:  International
Division

     

    All
notices and other communications shall be deemed to have been duly given on (i)
the date of receipt if delivered personally, (ii) the date five (5) days after
posting if transmitted by registered or certified mail, (iii) on the Business
Day after having been sent if transmitted by overnight mail with a reputable
courier, or (iv) the date of transmission if transmitted by FAX and receipt is
confirmed.

     

    
      
        
        

      

      
        40

        
          

        

      

      
        
        

      

    

     

    8.7          
Amendments,
Etc.  No
amendment or waiver of any provision of this Credit Agreement and the other Loan
Documents, and no consent to any departure by the Borrower therefrom, shall in
any event be effective unless the same shall be in writing and signed by the
Lender and, in the case of an amendment, the Borrower, and then such waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which it was given.  Notwithstanding the foregoing, the
terms hereof may only be amended in accordance with the provisions of the
Subordination Agreement.

     

    8.8          
Release of
Collateral.  Upon the sale, lease, transfer or other
disposition of any item of Collateral (including, without limitation, as a
result of the sale, in accordance with the terms of the Loan Documents, of the
Subsidiary that owns such Collateral) in accordance with the terms of the Loan
Documents, the Lender, at the Borrower's expense, execute and deliver to the
Borrower or such Guarantor such documents in form and substance reasonably
satisfactory to the Lender as may be reasonably requested to evidence the
release of such item of Collateral from the assignment and security interest
granted under the Collateral Documents in accordance with the terms of the Loan
Documents.

     

    8.9          
Usury.  Anything
in this Credit Agreement to the contrary notwithstanding, the obligation of the
Borrower to pay interest on the Revolving Loans and any Notes or any other
amount due and owing hereunder or under any other Loan Document shall be subject
to the limitation that no payment of such interest shall be required to the
extent that receipt of such payment would be contrary to applicable usury
laws.

     

    8.10         Counterparts; Facsimile
Signature.  This
Credit Agreement may be signed in any number of counterparts.  Either
a single counterpart or a set of counterparts when signed by all the parties
hereto shall constitute a full and original agreement for all
purposes.  Delivery of any executed signature page hereof or of any
amendment, waiver or consent to this Credit Agreement by facsimile transmission
shall be as effective as delivery of a manually executed counterpart
thereof.

     

    8.11         Severability.  Any
provision of this Credit Agreement or any other Loan Document that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining portions hereof or thereof or affecting the validity
or enforceability of such provision in any other jurisdiction.

     

    8.12         No Party Deemed
Drafter.  The
Borrower and the Lender agree that no party hereto shall be deemed to be the
drafter of this Credit Agreement.

     

    8.13         USA Patriot Act
Notification.  The
following notification is provided to the Borrower pursuant to Section 326 of
the USA Patriot Act:

     

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

       

    

    IMPORTANT
INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT.  To help the
government fight the funding of terrorism and money laundering activities,
Federal law requires all financial institutions to obtain, verify and record
information that identifies each person or entity that opens an account,
including any deposit account, treasury management account, loan, other
extension of credit or other financial services product.  WHAT THIS
MEANS FOR THE BORROWER:  When the Borrower opens an account, the
Lender will ask the Borrower for certain information, including, without
limitation, the Borrower's name, tax identification number, business address and
other information that will allow the Lender to identify the
Borrower.  The Lender may also seek to see the Borrower's legal
organizational documents or other identifying documents, among other
things.  The Borrower agrees to cooperate with the Lender and provide
true, accurate complete information to the Lender in response to any such
request.

     

    [SIGNATURE
PAGE FOLLOWS.]

     

    
      
        
        

      

      
        42

        
          

        

      

      
        
        

      

    

     

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

     

    
      
        
          
            	 	THE
      TALBOTS, INC.	 
	 	 	 
	 	 	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	/s/ Michael
      Scarpa 	 
	 	 	Name: 
      	Michael
      Scarpa	 
	 	 	Title:
      	
                    Chief
      Operating Officer & 

                    Chief
      Financial Officer

                  	 
	 	 	 	 
	 	Signed
      in: 	Hingham, MA
      USA 	 
	 	 	 	 

          

        

      

       

       

    

    
      
        
          	
                	AEON
      CO., LTD.	 
	 	 	 
	 	 	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/ Masaaki
      Toyoshima  	 
	 	 	Name: 
      	Masaaki
      Toyoshima 	 
	 	 	Title:
      	
                  
                    Vice
      President &

                    Chief Financial Officer

                  

                	 
	 	 	 	 
	 	Signed
      in: 	 	 
	 	 	 	 
	 	 	 	 

        

      

    

     

    [Loan
Agreement]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
A

     

    NOTE

     

    
      	
              US$_____________

            	
              ________
          ,
      20__

            

    

     

    FOR VALUE
RECEIVED, The Talbots Inc. (the "Borrower")
unconditionally promises to pay to the order of Aeon Co., Ltd. a corporation
organized under the laws of Japan (the "Lender"), to the
Lender's Account specified in the Credit Agreement described below, the
principal sum of ___________________________ ($_____________) or such lesser
amount as may be outstanding from time to time hereunder and to pay interest
thereon at such rates and according to such methods of calculation as are
provided pursuant to the Secured Revolving Loan Agreement, dated as of April 10,
2009, by and among the Borrower and the Lender (as the same may be amended,
supplemented, or otherwise modified from time to time, the "Credit
Agreement").  The Borrower hereby authorizes the Lender to
enter on the schedule attached hereto the dates, amounts, denomination,
maturities, interest rates and interest periods applicable to each borrowing and
absent manifest error such notations shall be binding and conclusive upon the
Borrower; provided, however, that failure
by the Lender to make any notation on such schedule or any error in such
notations shall in no way affect the Borrower's obligation to repay outstanding
amounts on this Note.

     

    The
outstanding principal of this Note and any accrued interest thereon shall be
repaid as set forth in the Credit Agreement, with final payment on the Maturity
Date (as defined in the Credit Agreement).

     

    All
payments of principal and interest on this Note shall be payable in lawful money
of the United States of America in immediately available funds without set-off,
defense or counterclaim.

     

    This Note
is issued pursuant to the terms of the Credit Agreement and is subject to the
terms and conditions and entitled to the benefits therein
provided.  Upon the occurrence of an Event of Default (as defined in
the Credit Agreement), the principal of and the accrued interest on this Note
may become due and payable in the manner and with the same effect as provided in
the Credit Agreement, without presentment, demand, protest or notice of any kind
unless otherwise expressly required therein.

     

    Failure
or delay of the holder of this Note to enforce any provision of this Note shall
not be deemed a waiver of any such provision, nor shall the holder of this Note
be estopped from enforcing any such provision at a later time.  Any
waiver of any provision hereof must be in writing.  This Note shall be
governed by and interpreted in accordance with the laws of the State of New York
without regard to the conflict of law provisions thereof.

     

    
      
        	 	THE
      TALBOTS, INC.	 
	 	 	 
	 	 	 
	 	 	 	 
	
                 

              	
                By:
      

              	 	 
	 	 	Name: 	 	 
	 	 	Title:	 	 
	 	 	 	 

      

    

    

    
      
        
        

      

      
        A-1

        
          

        

      

      
        
        

      

    

     

    SCHEDULE

     

    
      	
              Date
      of

              Loan

            	
              Amount

              of
      Loan

            	
              Interest

            	
              Amount

              Paid/Prepaid

            	
              Unpaid

               Principal
      

              Balance

            	
              Maturity

               Date

            	
              Notation

               Made
      By

            
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      

    

     

    
      
        
        

      

      
        A-2

        
          

        

      

      
        
        

      

       

    

    
      	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      
	
               
      

               

               

               

            	 
      	 
      	 
      	 
      	 
      	 
      

    

     

    
      
        
        

      

      
        A-3

        
          

        

      

      
        
        

      

    

     

    Schedule
1(a)

    

    Initial
Guarantors

    

    
      	
              Guarantor

            	
              Jurisdiction

            
	
              Talbots
      Classics, Inc.

            	
              Massachusetts

            
	
              The
      Talbots Group, Limited Partnership

            	
              Massachusetts

            
	
              Talbots
      Import, LLC

            	
              Delaware

            
	
              Talbots
      International Retailing Limited, Inc.

            	
              Delaware

            
	
              Talbots
      Classics Finance Company, Inc.

            	
              Delaware

            
	
              Talbots
      (U.K.) Retailing Limited

            	
              Delaware

            
	
              Talbots
      (Canada), Inc.

            	
              Delaware

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    Schedule
1(b)

    

    Mortgaged
Properties

    

    The real
property and all improvements thereon at the Talbots headquarters complex
located at 175 Beal Street, Hingham, MA 02043

    

    The real
property and all improvements thereon at Talbots' Lakeville Distribution Center
located at 175 Kenneth Welch Drive, Lakeville, MA  02348.h1657-hhpil.htm

    Back to Form 8-K

    Exhibit 10.1

    
      Medicare
Advantage Attestation of Benefit Plan

    

    
      HARMONY
HEALTH PLANS OF ILLINOIS, INC.

    

    
      H1657

    

    
      Date:
08/29/2008

    

    
      

    

    
      

    

    
      I attest
that I have examined the Plan Benefit Packages (PBPs) identified below and that
the benefits identified in the PBPs are those that the above-stated organization
will make available to eligible beneficiaries in the approved service area
during program year 2009. I further attest that we have reviewed the bid pricing
tools (BPTs) with the certifying actuary and have determined them to be
consistent with the PBPs being attested to here.

    

    
      

    

    
      I further
attest that these benefits will be offered in accordance with all applicable
Medicare program authorizing statutes and regulations and program guidance that
CMS has issued to date and will issue during the remainder of 2008 and 2009,
including but not limited to, the 2009 Call Letter, the 2009 Solicitations for
New Contract Applicants, the Medicare Prescription Drug Benefit Manual, the
Medicare Managed Care Manual, and the CMS memoranda issued through the Health
Plan Management System (HPMS).

    

    
      

    

    
      

    

    
      	
              
                Plan

              

              
                ID

              

            	
              
                Segment

              

              
                ID

              

            	
              
                Version

              

            	
              
                Plan
      Name

              

            	
              
                Plan

              

              
                Type

              

            	
              
                Transaction
      

                Type

              

            	
              
                MA
      

                Premium

              

            	
              
                Part
      D 

                Premium

              

            	
              
                CMS
      Approval 

                Date

              

            	
              
                Effective
      

                Date

              

            
	
              
                002

              

            	
              
                0

              

            	
              
                7

              

            	
              
                WellCare
      Value

              

            	
              
                HMOPOS

              

            	
              
                Renewal

              

            	
              
                0.00

              

            	
              
                0.00

              

            	
              
                08/29/2008

              

            	
              
                01/01/2009

              

            
	
              
                003

              

            	
              
                0

              

            	
              
                7

              

            	
              
                WellCare
      Value

              

            	
              
                HMOPOS

              

            	
              
                Renewal

              

            	
              
                0.00

              

            	
              
                0.00

              

            	
              
                08/29/2008

              

            	
              
                01/01/2009

              

            
	
              
                004

              

            	
              
                0

              

            	
              
                7

              

            	
              
                WellCare
      Access

              

            	
              
                HMO

              

            	
              
                Renewal

              

            	
              
                0.00

              

            	
              
                33.70

              

            	
              
                08/29/2008

              

            	
              
                01/01/2009

              

            
	
              
                005

              

            	
              
                0

              

            	
              
                7

              

            	
              
                WellCare
      Select

              

            	
              
                HMOPOS

              

            	
              Renewal

            	
              
                0.00

              

            	
              
                18.80

              

            	
              08/29/2008

            	
              01/01/2009

            
	
              
                006

              

            	
              
                0

              

            	
              
                8

              

            	
              
                WellCare
      Select

              

            	
              HMOPOS

            	
              Renewal

            	
              
                0.00

              

            	
              
                23.40

              

            	
              08/29/2008

            	
              01/01/2009

            
	
              
                007

              

            	
              
                0

              

            	
              
                7

              

            	
              
                WellCare
      Select

              

            	
              HMOPOS

            	
              Renewal

            	
              
                0.00

              

            	
              
                16.40

              

            	
              08/29/2008

            	
              01/01/2009

            
	
              
                008

              

            	
              
                0

              

            	
              
                7

              

            	
              
                WellCare
      Rx

              

            	
              HMOPOS

            	
              Renewal

            	
              
                0.00

              

            	
              
                32.80

              

            	
              08/29/2008

            	
              01/01/2009

            
	
              
                009

              

            	
              
                0

              

            	
              
                7

              

            	
              
                WellCare
      Rx

              

            	
              HMOPOS

            	
              Renewal

            	
              
                0.00

              

            	
              
                36.70

              

            	
              08/29/2008

            	
              01/01/2009

            

    

    
       

      Page 1 of
2   - HARMONY HEALTH PLANS OF ILLINOIS, INC.  - H1657 -
08/29/2008

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

    

    
      	
              /s/
      Heath Schiesser

            	 
      	
              9/5/08

            
	
              CEO:

            	 
      	
              Date:

            
	
              Heath
      Schiesser

            	 
      	 
      
	
              CEO/President

            	 
      	 
      
	
              8735
      Henderson Road

            	 
      	 
      
	
              Tampa,
      FL 33634

            	 
      	 
      
	
              813-290-6205

            	 
      	 
      

    

    
       

       

    

    
      	
              /s/
      Thomas L. Tran

            	 
      	
              9/5/08

            
	
              CFO:

            	 
      	
              Date:

            
	
              Tom
      Tran

            	 
      	 
      
	
              CFO

            	 
      	 
      
	
              8735
      Henderson Road

            	 
      	 
      
	
              Tampa,
      FL 33634

            	 
      	 
      
	
              813-290-6200
      (1770)

            	 
      	 
      

    

    
       

      Page 1 of
2   - HARMONY HEALTH PLANS OF ILLINOIS, INC.  - H1657 -
08/29/2008

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