Document:

exv4w1

Exhibit 4.1

 

AMENDED AND RESTATED CREDIT AGREEMENT

dated as of

February 8, 2010

among

LIBBEY GLASS INC.

and

LIBBEY EUROPE B.V.,

each as a Borrower,

LIBBEY INC., as a Loan Guarantor,

The Other Loan Parties Party Hereto,

The Lenders Party Hereto

and

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent with respect to the US Loans

J.P. MORGAN EUROPE LIMITED,

as Administrative Agent with respect to the Netherlands Loans

BANK OF AMERICA, N.A. and

BARCLAYS CAPITAL,

as Co-Syndication Agents

WELLS FARGO CAPITAL FINANCE, LLC,

as Documentation Agent

J.P. MORGAN SECURITIES INC., and

BANC OF AMERICA SECURITIES LLC,

as Co-Lead Arrangers

J.P. MORGAN SECURITIES INC.,

BANC OF AMERICA SECURITIES LLC, and

BARCLAYS CAPITAL,

as Joint Bookrunners

 

CHASE BUSINESS CREDIT

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS
	 	 	1	 
	 
	 	 	 	 
	Section 1.01 Defined Terms
	 	 	  1	 
	Section 1.02 Classification of Loans and Borrowings
	 	 	 33	 
	Section 1.03 Terms of Usage
	 	 	 34	 
	Section 1.04 Accounting Terms; GAAP
	 	 	 34	 
	 
	 	 	 	 
	ARTICLE II THE CREDITS
	 	 	35	 
	 
	 	 	 	 
	Section 2.01 Commitments
	 	 	 35	 
	Section 2.02 Loans and Borrowings
	 	 	 36	 
	Section 2.03 Requests for Borrowings
	 	 	 36	 
	Section 2.04 Protective Advances
	 	 	 37	 
	Section 2.05 Swingline Loans
	 	 	 38	 
	Section 2.06 Letters of Credit
	 	 	 40	 
	Section 2.07 Funding of Borrowings
	 	 	 44	 
	Section 2.08 Interest Elections
	 	 	 45	 
	Section 2.09 Reduction or Termination of Commitments
	 	 	 46	 
	Section 2.10 Repayment and Amortization of Loans; Evidence of Debt
	 	 	 47	 
	Section 2.11 Prepayment of Loans
	 	 	 48	 
	Section 2.12 Fees
	 	 	 49	 
	Section 2.13 Interest
	 	 	 49	 
	Section 2.14 Alternate Rate of Interest
	 	 	 51	 
	Section 2.15 Increased Costs
	 	 	 51	 
	Section 2.16 Break Funding Payments
	 	 	 52	 
	Section 2.17 Taxes
	 	 	 52	 
	Section 2.18 Payments Generally; Allocation of Proceeds; Sharing of Set-offs
	 	 	 54	 
	Section 2.19 Mitigation Obligations; Replacement of Lenders
	 	 	 56	 
	Section 2.20 Defaulting Lenders
	 	 	 57	 
	Section 2.21 Returned Payments
	 	 	 58	 
	Section 2.22 Inter-Lender Assignments
	 	 	 58	 
	 
	 	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES
	 	 	59	 
	 
	 	 	 	 
	Section 3.01 Organization; Powers
	 	 	 59	 
	Section 3.02 Authorization; Enforceability
	 	 	 59	 
	Section 3.03 Governmental Approvals; No Conflicts
	 	 	 59	 
	Section 3.04 Financial Condition; No Material Adverse Change
	 	 	 59	 
	Section 3.05 Properties
	 	 	 60	 
	Section 3.06 Litigation and Environmental Matters
	 	 	 60	 
	Section 3.07 Compliance with Laws and Agreements
	 	 	 61	 
	Section 3.08 Investment Company Status
	 	 	 61	 
	Section 3.09 Taxes
	 	 	 61	 
	Section 3.10 ERISA
	 	 	 61	 
	Section 3.11 Disclosure
	 	 	 61	 
	Section 3.12 Reserved
	 	 	 61	 
	Section 3.13 Solvency
	 	 	 62	 
	Section 3.14 Insurance
	 	 	 62	 
	Section 3.15 Capitalization and Subsidiaries
	 	 	 62	 
	Section 3.16 Security Interest in Collateral
	 	 	 62	 
	Section 3.17 Employment Matters
	 	 	 63	 

i

 

	 	 	 	 	 
	 	 	Page	 
	Section 3.18 Common Enterprise
	 	 	 63	 
	Section 3.19 Intellectual Property
	 	 	 63	 
	Section 3.20 Federal Regulations
	 	 	 63	 
	Section 3.21 Senior Indebtedness
	 	 	 63	 
	Section 3.22 Netherlands Collateral Documents
	 	 	 64	 
	Section 3.23 Inactive Subsidiary
	 	 	 64	 
	 
	 	 	 	 
	ARTICLE IV CONDITIONS
	 	 	64	 
	 
	 	 	 	 
	Section 4.01 Effective Date
	 	 	 64	 
	Section 4.02 Each Credit Event
	 	 	 67	 
	 
	 	 	 	 
	ARTICLE V AFFIRMATIVE COVENANTS
	 	 	68	 
	 
	 	 	 	 
	Section 5.01 Financial Statements; Borrowing Base and Other Information
	 	 	 68	 
	Section 5.02 Notices of Material Events
	 	 	 70	 
	Section 5.03 Existence; Conduct of Business
	 	 	 71	 
	Section 5.04 Payment of Obligations
	 	 	 71	 
	Section 5.05 Maintenance of Properties
	 	 	 71	 
	Section 5.06 Books and Records; Inspection Rights
	 	 	 72	 
	Section 5.07 Compliance with Laws
	 	 	 72	 
	Section 5.08 Use of Proceeds
	 	 	 72	 
	Section 5.09 Insurance
	 	 	 72	 
	Section 5.10 [Reserved]
	 	 	 72	 
	Section 5.11 Appraisals
	 	 	 72	 
	Section 5.12 Depository Banks
	 	 	 73	 
	Section 5.13 Environmental Laws
	 	 	 73	 
	Section 5.14 Additional Collateral; Further Assurances
	 	 	 73	 
	Section 5.15 USA PATRIOT Act
	 	 	 74	 
	Section 5.16 Inactive Subsidiary
	 	 	 74	 
	Section 5.17 Post-Closing Deliveries
	 	 	 75	 
	 
	 	 	 	 
	ARTICLE VI NEGATIVE COVENANTS
	 	 	76	 
	 
	 	 	 	 
	Section 6.01 Indebtedness
	 	 	 76	 
	Section 6.02 Liens
	 	 	 79	 
	Section 6.03 Fundamental Changes
	 	 	 80	 
	Section 6.04 Investments, Loans, Advances, Guarantees and Acquisitions
	 	 	 81	 
	Section 6.05 Asset Sales
	 	 	 83	 
	Section 6.06 Sale and Leaseback Transactions
	 	 	 84	 
	Section 6.07 Swap Agreements
	 	 	 84	 
	Section 6.08 Restricted Payments; Certain Payments of Indebtedness
	 	 	 85	 
	Section 6.09 Transactions with Affiliates
	 	 	 85	 
	Section 6.10 Restrictive Agreements
	 	 	 86	 
	Section 6.11 Amendment of Material Documents
	 	 	 86	 
	Section 6.12 Optional Payments and Modifications of Certain Debt Instruments
	 	 	 86	 
	Section 6.13 Changes in Fiscal Periods
	 	 	 87	 
	 
	 	 	 	 
	ARTICLE VII EVENTS OF DEFAULT
	 	 	87	 
	 
	 	 	 	 
	ARTICLE VIII THE ADMINISTRATIVE AGENT
	 	 	90	 
	 
	 	 	 	 
	ARTICLE IX MISCELLANEOUS
	 	 	92	 
	 
	 	 	 	 
	Section 9.01 Notices
	 	 	 92	 
	Section 9.02 Waivers; Amendments
	 	 	 93	 
	Section 9.03 Expenses; Indemnity; Damage Waiver
	 	 	 95	 
	Section 9.04 Successors and Assigns
	 	 	 96	 
	Section 9.05 Survival
	 	 	 99	 
	Section 9.06 Counterparts; Integration; Effectiveness
	 	 	 99	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	Section 9.07 Severability
	 	 	100	 
	Section 9.08 Right of Setoff
	 	 	100	 
	Section 9.09 Governing Law; Jurisdiction; Consent to Service of Process
	 	 	100	 
	Section 9.10 WAIVER OF JURY TRIAL
	 	 	101	 
	Section 9.11 Headings
	 	 	101	 
	Section 9.12 Confidentiality
	 	 	101	 
	Section 9.13 Several Obligations; Nonreliance; Violation of Law
	 	 	102	 
	Section 9.14 USA PATRIOT Act
	 	 	102	 
	Section 9.15 Disclosure
	 	 	102	 
	Section 9.16 Appointment for Perfection
	 	 	103	 
	Section 9.17 Interest Rate Limitation
	 	 	103	 
	Section 9.18 Judgment Currency
	 	 	103	 
	Section 9.19 Netherlands Parallel Debt
	 	 	103	 
	Section 9.20 Several Liability of Netherlands Loan Parties
	 	 	104	 
	Section 9.21 Euro Loans
	 	 	104	 
	Section 9.22 Euro Loans
	 	 	104	 
	Section 9.23 Effect of Amendment and Restatement; No Novation
	 	 	104	 
	 
	 	 	 	 
	ARTICLE X LOAN GUARANTY
	 	 	104	 
	 
	 	 	 	 
	Section 10.01 Guaranty
	 	 	104	 
	Section 10.02 Guaranty of Payment
	 	 	105	 
	Section 10.03 No Discharge or Diminishment of Loan Guaranty
	 	 	105	 
	Section 10.04 Defenses Waived
	 	 	106	 
	Section 10.05 Rights of Subrogation
	 	 	106	 
	Section 10.06 Reinstatement; Stay of Acceleration
	 	 	106	 
	Section 10.07 Information
	 	 	107	 
	Section 10.08 Termination
	 	 	107	 
	Section 10.09 Taxes
	 	 	107	 
	Section 10.10 Maximum Liability
	 	 	107	 
	Section 10.11 Contribution
	 	 	107	 
	Section 10.12 Liability Cumulative
	 	 	109	 
	Section 10.13 Effect of Netherlands Civil Code
	 	 	109	 
	 
	 	 	 	 
	ARTICLE XI THE BORROWER REPRESENTATIVE
	 	 	109	 
	 
	 	 	 	 
	Section 11.01 Appointment; Nature of Relationship
	 	 	109	 
	Section 11.02 Powers
	 	 	109	 
	Section 11.03 Employment of Agents
	 	 	109	 
	Section 11.04 Notices
	 	 	109	 
	Section 11.05 Successor Borrower Representative
	 	 	109	 
	Section 11.06 Execution of Loan Documents; Borrowing Base Certificate
	 	 	110	 
	Section 11.07 Reporting
	 	 	110	 

iii

 

	 	 	 	 	 
	SCHEDULES:
	 	 	 	 
	 
	 	 	 	 
	Commitment Schedule
	 	 	 	 
	Schedule 3.05 — Properties
	 	 	 	 
	Schedule 3.06 — Disclosed Matters
	 	 	 	 
	Schedule 3.14 — Insurance
	 	 	 	 
	Schedule 3.15 — Capitalization and Subsidiaries
	 	 	 	 
	Schedule 5.17 — Post-Closing Matters
	 	 	 	 
	Schedule 6.01 — Existing Indebtedness
	 	 	 	 
	Schedule 6.02 — Existing Liens
	 	 	 	 
	Schedule 6.04 — Existing Investments
	 	 	 	 
	Schedule 6.10 — Existing Restrictions
	 	 	 	 
	 
	 	 	 	 
	EXHIBITS:
	 	 	 	 
	 
	 	 	 	 
	Exhibit A — Form of Assignment and Assumption
	 	 	 	 
	Exhibit B — [Reserved]
	 	 	 	 
	Exhibit C — Form of US Borrowing Base Certificate
	 	 	 	 
	Exhibit D — Form of Netherlands Borrowing Base Certificate
	 	 	 	 
	Exhibit E — [Reserved]
	 	 	 	 
	Exhibit F — [Reserved]
	 	 	 	 
	Exhibit G — Form of Compliance Certificate
	 	 	 	 
	Exhibit H — Form of Joinder Agreement
	 	 	 	 
	Exhibit I — Form of Aggregate Borrowing Base Certificate
	 	 	 	 
	Exhibit J — [Reserved]
	 	 	 	 
	Exhibit K — [Reserved]
	 	 	 	 
	Exhibit L — Form of Borrowing Notice
	 	 	 	 

iv

 

          AMENDED AND RESTATED CREDIT AGREEMENT dated as of February 8, 2010 (as it may be amended or
modified from time to time, this “Agreement”), among LIBBEY GLASS INC. and LIBBEY EUROPE
B.V., as Borrowers, LIBBEY INC., as a Loan Guarantor, the other Loan Parties party thereto, the
Lenders party hereto, JPMORGAN CHASE BANK, N.A., as Administrative Agent with respect to the US
Loans, J.P. MORGAN EUROPE LIMITED, as Administrative Agent with respect to the Netherlands Loans,
BANK OF AMERICA, N.A. and BARCLAYS CAPITAL, as Co-Syndication Agents (the “Co-Syndication
Agents”), and WACHOVIA CAPITAL FINANCE CORPORATION (NEW ENGLAND), as
Documentation Agent (the “Documentation Agent”).

W I T N E S S E T H:

          WHEREAS, Borrowers, the Loan Parties party thereto, Administrative Agent and the Lenders party
thereto are party to that certain Credit Agreement dated as of June 16, 2006 (as amended, restated,
supplemented or otherwise modified prior to the date hereof, the “Original Credit Agreement”);

          WHEREAS, the parties hereto desire to amend and restate the Original Credit Agreement to,
among other things, extend the maturity of the revolving credit loans;

          WHEREAS, it is the intention of the parties to this Agreement that upon the execution of this
Agreement, the Original Credit Agreement shall be amended and restated by this Agreement in its
entirety; provided, however, that the obligations to repay the loans and advances
arising under the Original Credit Agreement shall continue in full force and effect and the liens
and security interests securing payment thereof shall be continuing but in each case shall now be
governed by this Agreement and the corresponding Loan Documents;

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

ARTICLE I

Definitions

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

          “Account” has the meaning assigned to such term in the US Security Agreement and, with
respect to the Netherlands Loan Parties, “Receivables” as defined in the Deed of Disclosed Pledges
of Receivables and Deed of Undisclosed Pledges of Receivables.

          “Account Debtor” means any Person obligated on an Account.

          “Act” has the meaning set forth in Section 5.15.

          “Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing for any
Interest Period or for any CBFR Borrowing, an interest rate per annum (rounded upwards, if
necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied
by (b) the Statutory Reserve Rate.

          “Adjusted One Month LIBOR Rate” means, an interest rate per annum equal to the sum of
(i) 2.50% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day
(or

1

 

if such day is not a Business Day, the immediately preceding Business Day); provided,
that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the
rate appearing on the Reuters Screen LIBOR01 Page (or on any successor or substitute page) at
approximately 11:00 a.m. London time on such day (without any rounding).

          “Administrative Agent” means, in the case of the US Borrower and the US Loans,
JPMorgan Chase Bank, N.A., and in the case of the Netherlands Borrower and the Netherlands Loans,
J.P. Morgan Europe Limited, each in its capacity as administrative agent for the Lenders hereunder.

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

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

          “Aggregate Availability” means, with respect to all the Borrowers, at any time, an
amount equal to the sum of (a) the US General Availability and (b) the Netherlands Availability.

          “Aggregate Borrowing Base Certificate” means a certificate, signed and certified as
accurate and complete by a Financial Officer of the Borrower Representative, in substantially the
form of Exhibit I or another form which is acceptable to the Administrative Agent in its
sole discretion.

          “Aggregate Credit Exposure” means, at any time, the aggregate Credit Exposure of all
the Lenders.

          “Agreement Currency” has the meaning set forth in Section 9.18(b).

          “Applicable Percentage” means, with respect to any Lender, at any time, (a) with
respect to Revolving Loans, LC Exposure or Swingline Loans, a percentage equal to a fraction the
numerator of which is such Lender’s Revolving Commitment then in effect and the denominator of
which is the aggregate Revolving Commitment of all Revolving Lenders (if the Revolving Commitments
have terminated or expired, the Applicable Percentages shall be determined based upon such Lender’s
share of the aggregate Revolving Exposures at that time); provided that in the case of Section
2.20 when a Defaulting Lender shall exist, any such Defaulting Lender’s Revolving Commitment shall
be disregarded in the calculation, (b) with respect to Revolving Loans made to the Netherlands
Borrower pursuant to the Revolving Netherlands Sublimit, a percentage equal to a fraction the
numerator of which is such Lender’s Revolving Netherlands Sublimit then in effect and the
denominator of which is the aggregate Revolving Netherlands Sublimit of all Revolving Lenders (if
the Revolving Netherlands Sublimit has terminated or expired, the Applicable Percentages shall be
determined based upon such Lender’s share of the aggregate Revolving Netherlands Exposures at that
time); provided that in the case of Section 2.20 when a Defaulting Lender shall exist, any
such Defaulting Lender’s Revolving Netherlands Sublimit shall be disregarded in the
calculation and (c) with respect to Protective Advances or with respect to the Aggregate
Credit Exposure, a percentage based upon its share of the Aggregate Credit Exposure and the unused
Commitments; provided that in the case of Section 2.20 when a Defaulting Lender shall exist,
any such Defaulting Lender’s Commitment shall be disregarded in the calculation.

          “Applicable Rate” means, for any day, with respect to any CBFR or Eurocurrency Loan,
or with respect to the commitment fees payable hereunder, as the case may be, the applicable rate
per

2

 

annum set forth below under the caption “CBFR Spread”, “Eurocurrency Spread” or “Commitment
Fee Rate”, as the case may be, based upon the Aggregate Availability (without giving effect to the
Availability Block) as of the most recent determination date, provided that until the
delivery to the Administrative Agent, pursuant to Section 5.01, of an Aggregate Borrowing Base
Certificate and a Borrowing Base Certificate for each Borrower for the sixth full calendar month
ending after the Effective Date, the “Applicable Rate” shall be the applicable rate per annum set
forth below in Category 2:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Aggregate	 	Eurocurrency	 	CBFR	 	Commitment
	Availability	 	Spread	 	Spread	 	Fee Rate
	Category 1
3 $70,000,000
	 	 	3.25	%	 	 	2.25	%	 	 	0.75	%
	Category 2
< $70,000,000 but
3 $40,000,000
	 	 	3.50	%	 	 	2.50	%	 	 	0.75	%
	Category 3
< $40,000,000
	 	 	3.75	%	 	 	2.75	%	 	 	0.75	%

          For purposes of the foregoing, (a) the Applicable Rate shall be determined as of the end of
each fiscal quarter based upon the most recent Aggregate Borrowing Base Certificate and Borrowing
Base Certificates delivered pursuant to Section 5.01 and (b) each change in the Applicable Rate
resulting from a change in the Aggregate Availability (without giving effect to the Availability
Block) shall be effective during the period commencing on and including the Reset Date immediately
succeeding the end of the last month of such fiscal quarter for which the Aggregate Borrowing Base
Certificate and Borrowing Base Certificates received indicate such change and ending on the date
immediately preceding the effective date of the next such change, provided that the
Aggregate Availability shall be deemed to be in Category 3 at the option of the Administrative
Agent or at the request of the Required Lenders (a) if the Borrowers fail to deliver the Aggregate
Borrowing Base Certificate and Borrowing Base Certificates required to be delivered pursuant to
Section 5.01 and (b) such failure shall have continued unremedied for three (3) consecutive days
following notice of such actual failure from the Administrative Agent (provided, that no
such notice shall be required during the existence of an Event of Default of the type described in
paragraphs (h) or (i) in Article VII), and shall continue to be so deemed in Category 3 during the
period from the Reset Date immediately succeeding the end of such fiscal quarter for which such
Aggregate Borrowing Base Certificate and Borrowing Base Certificates were required to be delivered
until the later of (x) five days after and (y) the Reset Date immediately succeeding, in each case,
the date on which such Aggregate Borrowing Base Certificate and Borrowing Base Certificates have
been delivered in accordance with Section 5.01 in all respects other than the original due date
therefore.

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

          “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section 9.04),
and accepted by the Administrative Agent, in the form of Exhibit A or any other form
approved by the Administrative Agent and in the case of such Assignment and Assumption not
substantially in the form of Exhibit A, the Borrower Representative.

          “Attributable Indebtedness” means, on any date, the monetary obligation of a Person
under an agreement for sale and leaseback transactions, in each case, creating obligations that do
not appear on the balance sheet of such Person but which, upon the application of any federal
bankruptcy laws under the Bankruptcy Code to such Person, would be characterized as the
indebtedness of such Person (without regard to accounting treatment) and the capitalized amount of
which would appear on a

3

 

balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or
other agreement or instrument were accounted for as a Capital Lease Obligation.

          “Availability” means at any time, with respect to the US Borrower, US General
Availability at such time and, with respect to the Netherlands Borrower, the Netherlands
Availability at such time.

          “Availability Block” means, at any time, $11,000,000.

          “Available Commitment” means, at any time, the difference of (a) the total Commitments
then in effect minus (b) the aggregate (USD Equivalent) amount of the Revolving Exposures
of all Revolving Lenders at such time.

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

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

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

          “Banking Services Reserves” means all Reserves which the Administrative Agent from
time to time establishes in its Permitted Discretion for Banking Services then provided or
outstanding.

          “Bankruptcy Code” means, as applicable, Title 11 of the U.S. Code (11 U.S.C. §101
et seq), and any rule or regulation issued thereunder.

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

          “Borrower” or “Borrowers” means, individually or collectively, the US Borrower
and the Netherlands Borrower.

          “Borrower Representative” means the US Borrower, in its capacity as contractual
representative of the Borrowers pursuant to Article XI.

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

          “Borrowing Base” means, at any time, with respect to each Borrower, the US Borrowing
Base at such time; provided, that with respect to the Netherlands Borrower, “Borrowing
Base” in respect of Borrowings pursuant to the Revolving Netherlands Sublimit means the Netherlands
Borrowing Base.

4

 

          “Borrowing Base Certificate” means, individually or collectively, the US Borrowing
Base Certificate and the Netherlands Borrowing Base Certificate.

          “Borrowing Date” means any Business Day specified by a Borrower as a date on which
such Borrower requests the relevant Lenders to make Loans hereunder.

          “Borrowing Notice” means a notice substantially in the form of Exhibit L by the
Borrower Representative requesting any Revolving Borrowing pursuant to Section 2.03 or such other
form satisfactory to the Administrative Agent.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in Chicago (or, with respect to notices in respect of or Borrowings or payments of
Loans made to the Netherlands Borrower, London) are authorized or required by law to remain closed;
provided that, when used in connection with a Eurocurrency Loan, the term “Business
Day” shall also exclude (a) with respect to a Eurocurrency Loan denominated in dollars, any day
on which banks are not open for dealings in dollar deposits in the London interbank market and (b)
with respect to a Loan denominated in Euros, (i) any day on which banks are not open for dealings
in or Euro deposits in the London interbank market and (ii) any day on which the TARGET payment
system is not open for the settlement of payment in Euro.

          “Calculation Date” means (a) the last calendar day of each month (or, if such day is
not a Business Day, the next succeeding Business Day) and (b) at any time when an Event of Default
shall have occurred and be continuing, any other Business Day which the Administrative Agent may
determine in its sole discretion to be a Calculation Date.

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

          “CB Floating Rate” means the Prime Rate; provided that the CB Floating
Rate shall never be less than the Adjusted One Month LIBOR Rate for a one month Interest Period on
such day (or if such day is not a Business Day, the immediately preceding Business Day). Any
change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR
Rate shall be effective from and including the effective date of such change in the Prime Rate or
the Adjusted One Month LIBOR Rate, respectively.

          “CBFR”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to
the CB Floating Rate.

          “Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange
Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the
date hereof but excluding any employee benefit plan of such Person or its subsidiaries), of Equity
Interests representing more than 30% of the aggregate ordinary voting power represented by the
issued and outstanding Equity Interests of Holdings; (b) occupation of a majority of the seats
(other than vacant seats) on the board of directors of Holdings by Persons who were neither (i)
nominated by the board of directors of Holdings nor (ii) appointed by directors so nominated; (c)
the acquisition of direct or indirect Control of Holdings by any Person or group; (d) Holdings
shall cease to own, free and clear of all Liens

5

 

or other encumbrances (other than (i) Liens created pursuant to the Collateral Documents and
(ii) Liens securing the Senior Notes Obligations permitted hereunder so long as such Liens are
junior in priority to the Liens created pursuant to the Collateral Documents), directly or
indirectly, all of the outstanding voting Equity Interests of each Borrower on a fully diluted
basis; or (e) a Specified Change in Control shall occur.

          “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.15(b), by any lending
office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any) with any
request, guideline or directive (whether or not having the force of law) of any Governmental
Authority made or issued after the date of this Agreement.

          “Chase” means JPMorgan Chase Bank, N.A., a national banking association, in its
individual capacity, and its successors.

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

          “Co-Syndication Agents” has the meaning assigned to such term in the preamble.

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

          “Collateral” means, with respect to the US Borrower and the Netherlands Borrower, US
Collateral and Netherlands Collateral, respectively. Unless otherwise specified, “Collateral”
shall refer to the Collateral with respect to the Borrowers.

          “Collateral Access Agreement” has the meaning assigned to such term in the Security
Agreement.

          “Collateral Documents” means, collectively, the US Collateral Documents and the
Netherlands Collateral Documents.

          “Collection Account” has the meaning assigned to the term “Collection Account” in the
US Security Agreement.

          “Commitment” means, with respect to each Lender, such Lender’s Revolving Commitment
and Revolving Netherlands Sublimit, together with the commitment of such Lender to acquire
participations in Protective Advances hereunder. The initial amounts of each Lender’s Commitments
are set forth on the Commitment Schedule, or in the Assignment and Assumption pursuant to
which such Lender shall have assumed its Commitments, as applicable.

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

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

6

 

          “Credit Exposure” means, as to any Lender at any time, the sum of (a) such Lender’s
Revolving Exposure at such time, plus (b) an amount equal to its Applicable Percentage, if
any, of the aggregate principal amount of Protective Advances outstanding at such time.

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

          “Defaulting Lender” means any Lender, as determined by the Administrative Agent in its
reasonable discretion, that (a) has failed to fund any portion of its Loans or participations in
Letters of Credit or Swingline Loans in accordance with the terms and conditions of this Agreement
within three Business Days of the date required to be funded by it under this Agreement, (b) has
notified any Borrower, the Administrative Agent, the Issuing Bank, the Swingline Lender or any
Lender in writing that it does not intend to comply with any of its funding obligations under this
Agreement or has made a public statement to the effect that it does not intend to comply with its
required funding obligations under this Agreement or required funding obligations under other
agreements in which it commits to extend credit, (c) has failed, within three Business Days after
request by the Administrative Agent, to confirm that it will comply with the terms of this
Agreement relating to its obligations to fund prospective Loans and participations in then
outstanding Letters of Credit and Swingline Loans, (d) has otherwise failed to pay over to the
Administrative Agent or any other Lender any other amount required to be paid by it hereunder
within three Business Days of the date when due, unless the subject of a good faith dispute, or (e)
(i) is not Solvent or has a parent company that is not Solvent (solely for the purposes of this
clause (e), references to “Loan Parties” in the definition of “Solvent” shall be deemed to be
references to such Lender or parent company, as applicable) or (ii) has become the subject of a
bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian
appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval
of or acquiescence in any such proceeding or appointment or has a parent company that has become
the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee
or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent
to, approval of or acquiescence in any such proceeding or appointment.

          “Deposit Account Control Agreement” has the meaning assigned to such term in the
Security Agreement.

          “Disclosed Matters” means the actions, suits and proceedings and the environmental
matters disclosed in Schedule 3.06.

          “Document” has the meaning assigned to such term in the Security Agreements.

          “Documentation Agent” has the meaning assigned to such term in the preamble.

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

          “Effective Date” means February 8, 2010.

          “Eligible Accounts” means, at any time, with respect to each Borrower and any other
Loan Party, the Accounts of such Borrower or other Loan Party which the Administrative Agent
determines in its Permitted Discretion are eligible as the basis for the extension of Revolving
Loans, Swingline Loans and the issuance of Letters of Credit hereunder. Without limiting the
Administrative Agent’s discretion provided herein, Eligible Accounts shall not include any Account:

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          (a) which is not subject to a first priority perfected security interest in favor of
the Administrative Agent;

          (b) which is subject to any Lien other than (i) a Lien in favor of the Administrative
Agent, (ii) a Permitted Encumbrance or (iii) a Lien expressly permitted under Section
6.02(j) securing the Senior Notes Obligations permitted hereunder, in each case which does
not have priority over (or equal to) the Lien in favor of the Administrative Agent;

          (c) with respect to which (i) the scheduled due date is more than 60 days after the
original invoice date, (ii) is unpaid more than 90 days after the date of the original
invoice therefor, or (iii) which has been written off the books of such Borrower or Loan
Party or otherwise designated as uncollectible; provided, that the aggregate amount
of accounts with a scheduled due date of more than 30 days after the original invoice date
which remain unpaid after such scheduled due date shall not exceed $1,000,000.

          (d) which is owing by an Account Debtor for which more than 50% of the Accounts owing
from such Account Debtor and its Affiliates, other than Accounts arising from customer
chargebacks, are ineligible pursuant to clause (c) above;

          (e) which is owing by an Account Debtor to the extent the aggregate amount of Accounts
owing from such Account Debtor and its Affiliates to Loan Parties exceeds 20% of the
aggregate amount of Eligible Accounts of all Loan Parties;

          (f) with respect to which any covenant, representation, or warranty contained in this
Agreement or in the Security Agreement has been materially breached or is not true in any
material respect;

          (g) which (i) does not arise from the sale of goods or performance of services in the
ordinary course of business, (ii) is not evidenced by an invoice or other documentation
satisfactory to the Administrative Agent which has been sent to the Account Debtor, (iii)
represents a progress billing, (iv) is contingent upon such Loan Party’s completion of any
further performance, (v) represents a sale on a bill-and-hold, guaranteed sale,
sale-and-return, sale on approval, consignment, cash-on-delivery or any other repurchase or
return basis or (vi) relates to payments of interest;

          (h) for which the goods giving rise to such Account have not been shipped to the
Account Debtor or for which the services giving rise to such Account have not been performed
by such Loan Party;

          (i) with respect to which any check or other instrument of payment has been returned
uncollected for any reason;

          (j) which is owed by an Account Debtor which has currently (i) applied for, suffered,
or consented to the appointment of any receiver, custodian, trustee, or liquidator of its
assets, (ii) has had possession of all or a material part of its property taken by any
receiver, custodian, trustee or liquidator, (iii) filed, or had filed against it, any
request or petition for liquidation, reorganization, arrangement, adjustment of debts,
adjudication as bankrupt, winding-up, or voluntary or involuntary case under any state or
federal bankruptcy laws (other than post-petition accounts payable of an Account Debtor that
is a debtor-in-possession under the Bankruptcy Code and reasonably acceptable to the
Administrative Agent), (iv) has admitted in

8

 

writing its inability, or is generally unable to, pay its debts as they become due, (v)
become insolvent, or (vi) ceased operation of its business;

          (k) which is owed by any Account Debtor which has sold all or a substantially all of
its assets;

          (l) which is owed by an Account Debtor which (A) in the case of a US Loan Party, (i)
does not maintain its chief executive office in the U.S. or Canada or (ii) is not organized
under applicable law of the U.S., any state of the U.S., Canada, or any province of Canada
or (B) in the case of a Netherlands Loan Party, (i) does not maintain its chief executive
office in The Netherlands or any other Member State of the European Union (as constituted
prior to May 1, 2004) satisfactory to the Administrative Agent or is not organized under
applicable law of The Netherlands or any other Member State of the European Union (as
constituted prior to May 1, 2004) satisfactory to the Administrative Agent unless, in each
case, such Account is backed by a Letter of Credit acceptable to the Administrative Agent
which is in the possession of, has been assigned to and is directly drawable by the
Administrative Agent;

          (m) which is owed in any currency other than U.S. dollars or Euros.

          (n) which is owed by (i) the government (or any department, agency, public corporation,
or instrumentality thereof) of any country other than the U.S. unless such Account is backed
by a Letter of Credit acceptable to the Administrative Agent which is in the possession of
the Administrative Agent, or (ii) the government of the U.S., or any department, agency,
public corporation, or instrumentality thereof, unless the Federal Assignment of Claims Act
of 1940, as amended (31 U.S.C. § 3727 et seq. and 41 U.S.C. § 15 et
seq.), and any other steps necessary to perfect the Lien of the Administrative Agent
in such Account have been complied with to the Administrative Agent’s satisfaction;

          (o) which is owed by any Affiliate, employee, officer or director of any Loan Party;

          (p) which, for any Account Debtor, exceeds a credit limit determined by the
Administrative Agent, to the extent of such excess;

          (q) which is owed by an Account Debtor or any Affiliate of such Account Debtor to which
such Loan Party is indebted, but only to the extent of such indebtedness or is subject to
any security, deposit, progress payment, retainage or other similar advance made by or for
the benefit of an Account Debtor, in each case to the extent thereof;

          (r) which is subject to any counterclaim, deduction, defense, setoff or dispute but
only to the extent of any such counterclaim, deduction, defense, setoff or dispute;

          (s) which is evidenced by any promissory note, chattel paper, or instrument;

          (t) which is owed by an Account Debtor located in any jurisdiction which requires
filing of a “Notice of Business Activities Report” or other similar report in order to
permit such Loan Party to seek judicial enforcement in such jurisdiction of payment of such
Account, unless such Loan Party has filed such report or qualified to do business in such
jurisdiction;

9

 

          (u) with respect to which such Loan Party has made any agreement with the Account
Debtor for any reduction thereof, other than discounts and adjustments given in the ordinary
course of business, or any Account which was partially paid and such Loan Party created a
new receivable for the unpaid portion of such Account;

          (v) which does not comply in all material respects with the requirements of all
applicable laws and regulations, whether Federal, state or local, including without
limitation the Federal Consumer Credit Protection Act, the Federal Truth in Lending Act and
Regulation Z of the Board;

          (w) which is for goods that have been sold under a purchase order or pursuant to the
terms of a contract or other agreement or understanding (written or oral) that indicates or
purports that any Person other than such Loan Party has or has had an ownership interest in
such goods, or which indicates any party other than such Loan Party as payee or remittance
party;

          (x) which was created on cash on delivery terms;

          (y) which, with respect to Accounts of any Netherlands Loan Party, have not been
submitted for filing to the Dutch Tax Office or evidence of such filing has not been
provided by the Loan Parties to the Administrative Agent; or

          (z) which the Administrative Agent determines may not be paid by reason of the Account
Debtor’s inability to pay or which the Administrative Agent otherwise determines is
unacceptable for any reason whatsoever.

          In determining the amount of an Eligible Account, the face amount of an Account may, in the
Administrative Agent’s Permitted Discretion, be reduced by, without duplication, to the extent not
reflected in such face amount or as otherwise taken into account in clause (p) or (r) above, (i)
the amount of all accrued and actual discounts, claims, credits or credits pending, promotional
program allowances, price adjustments, finance charges or other allowances (including any amount
that such Loan Party may be obligated to rebate to an Account Debtor pursuant to the terms of any
agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in
respect of such Account but not yet applied by such Loan Party to reduce the amount of such
Account.

          “Eligible Inventory” means, at any time, with respect to each Borrower and any other
Loan Party, the Inventory of such Borrower or Loan Party which the Administrative Agent determines
in its Permitted Discretion is eligible as the basis for the extension of Revolving Loans,
Swingline Loans and the issuance of Letters of Credit hereunder. Without limiting the
Administrative Agent’s discretion provided herein, Eligible Inventory shall not include any
Inventory:

          (a) which is not subject to a first priority perfected Lien in favor of the
Administrative Agent;

          (b) which is subject to any Lien other than (i) a Lien in favor of the Administrative
Agent, (ii) a Permitted Encumbrance or (iii) a Lien expressly permitted under Section
6.02(j) securing the Senior Notes Obligations permitted hereunder, in each case which does
not have priority over (or equal to) the Lien in favor of the Administrative Agent;

10

 

          (c) which is, in the Administrative Agent’s Permitted Discretion, slow moving,
obsolete, unmerchantable, defective, used, unfit for sale, not salable at prices
approximating at least the cost of such Inventory in the ordinary course of business;

          (d) with respect to which any covenant, representation, or warranty contained in this
Agreement or the Security Agreement has been materially breached or is not true in any
material respect and which does not conform in all material respects to all standards
imposed by any Governmental Authority;

          (e) in which any Person other than such Borrower or Loan Party shall (i) have any
direct or indirect ownership, interest or title to such Inventory or (ii) be indicated on
any purchase order or invoice with respect to such Inventory as having or purporting to have
an interest therein;

          (f) which is not finished goods, raw materials, packaging and shipping materials or
which constitutes work-in-process, spare or replacement parts, subassemblies, manufacturing
supplies, samples, prototypes, displays or display items, bill-and-hold goods, goods that
are returned or marked for return, repossessed goods, defective or damaged goods, goods held
on consignment, or goods which are not of a type held for sale in the ordinary course of
business;

          (g) which is not located in the U.S. or, with respect to Inventory of a Netherlands
Loan Party, The Netherlands or is in transit with a common carrier from vendors and
suppliers , provided that, up to $2,000,000 of Inventory in transit from vendors and
suppliers may be included as eligible pursuant to this clause (g) so long as (i) the
Administrative Agent shall have received (1) a true and correct copy of the bill of lading
and other shipping documents for such Inventory, (2) evidence of satisfactory casualty
insurance naming the Administrative Agent as loss payee and otherwise covering such risks as
the Administrative Agent may reasonably request, and (3) if the bill of lading is (A)
non-negotiable, a duly executed Collateral Access Agreement from the applicable customs
broker for such Inventory or (B) negotiable, confirmation that the bill is issued in the
name of the Borrower or Loan Party and consigned to the order of the Administrative Agent,
and an acceptable agreement has been executed with such Borrower’s or Loan Party’s customs
broker, in which the customs broker agrees that it holds the negotiable bill of lading as
agent for the Administrative Agent and has granted the Administrative Agent access to the
Inventory and (ii) the common carrier is not an Affiliate of the applicable vendor or
supplier;

          (h) which is located in any location leased by such Borrower or Loan Party unless (i)
the lessor has delivered to the Administrative Agent a Collateral Access Agreement
(provided, however that notwithstanding the foregoing, Inventory located on leased
property with respect to which no Collateral Access Agreement shall have been delivered
shall not be ineligible solely for the purposes of this clause (h), and no Reserve referred
to in clause (ii) of this clause (h) shall be taken, in each case for 75 days following the
Effective Date) or (ii) a Reserve for three months of rent, charges and other amounts due or
to become due with respect to such facility has been established by the Administrative Agent
in its Permitted Discretion;

          (i) which is located in any third party warehouse or is in the possession of a bailee
(other than a third party processor) and is not evidenced by a Document (other than bills of
lading to the extent permitted pursuant to clause (g) above), unless (i) such warehouseman
or bailee has delivered to the Administrative Agent a Collateral Access Agreement and such
other documentation as the Administrative Agent may require (provided, however that
notwithstanding

11

 

the foregoing any such Inventory located in any such third party location with respect
to which no Collateral Access Agreement shall have been delivered shall not be ineligible
solely for the purposes of this clause (i), and no Reserve referred to in clause (ii) of
this clause (i) shall be taken, in each case for 75 days following the Effective Date) or
(ii) a Reserve for three months of charges and other amounts due or to become due with
respect to such facility has been established by the Administrative Agent in its Permitted
Discretion;

          (j) which is being processed offsite at a third party location or outside processor, or
is in-transit to or from said third party location or outside processor;

          (k) which is a discontinued product or component thereof;

          (l) which is the subject of a consignment by such Borrower or Loan Party as consignor;

          (m) which is perishable;

          (n) which contains or bears any intellectual property rights licensed to such Borrower
or Loan Party unless the Administrative Agent is satisfied that it may sell or otherwise
dispose of such Inventory without (i) infringing the rights of such licensor, (ii) violating
any contract with such licensor, or (iii) incurring any liability with respect to payment of
royalties other than royalties incurred pursuant to sale of such Inventory under the current
licensing agreement; or

          (o) which is not reflected in a current perpetual inventory report of such Borrower or
Loan Party (unless such Inventory is reflected in a report to the Administrative Agent as
“in transit” Inventory);

          (p) for which reclamation rights have been asserted by the seller until such Inventory
is in the seller’s possession;

          (q) which is subject to any retention of title claim; or

          (r) which the Administrative Agent otherwise determines is unacceptable for any reason
whatsoever.

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

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

          “Equity Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity ownership
interests

12

 

(however designated) in a Person, and any warrants, options or other rights entitling the
holder thereof to purchase or acquire any such equity interest.

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

          “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with a 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” means (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) the failure to meet the funding requirements of Section 412 and 430
of the Code or Section 302 and 303 of ERISA; (c) the filing pursuant to Section 412(d) of the Code
or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with
respect to any Plan; (d) the incurrence by any 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
any 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 any 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 any
Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from any
Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or
a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization,
within the meaning of Title IV of ERISA.

          “ERISA Reserve” means a Reserve in the amount of $2,000,000 on the date hereof, as
such Reserve may be increased or decreased in the Administrative Agent’s Permitted Discretion.

          “Euro Sublimit” means an amount equal to $55,000,000.

          “Eurocurrency”, when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by
reference to the Adjusted LIBO Rate or another rate of interest reasonably determined by the
Administrative Agent.

          “Euro” or “€” means the single currency of the Participating Member
States.

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

          “Exchange Rate” means, with respect to Euros on a particular date, the rate at which
such currency may be exchanged into dollars, as set forth on such date on the applicable Reuters
currency page with respect to such currency. In the event that such rate does not appear on the
applicable Reuters currency page, the Exchange Rate with respect to such currency shall be
determined by reference to such other publicly available service for displaying exchange rates as
may be agreed upon by the Administrative Agent and the Borrower Representative or, in the absence
of such agreement, such Exchange Rate shall instead be Chase’s spot rate of exchange in the London
interbank or other market where its foreign currency exchange operations in respect of such
currency are then being conducted, at or about noon, Local Time, at such date for the purchase of
dollars with such alternative currency, for delivery two Business Days later; provided,
that if at the time of any such determination, for any reason,

13

 

no such spot rate is being quoted, the Administrative Agent may use any reasonable method it
deems appropriate to determine such rate, and such determination shall be conclusive absent
manifest error.

          “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the
Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of
any Borrower hereunder, (a) income or franchise Taxes imposed on (or measured by) its net income by
the United States of America (or any political subdivision thereof), or 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 any Lender, in which its applicable lending office
is located, (b) any branch profits Taxes imposed by the United States of America or any similar tax
imposed by any other jurisdiction in which any Borrower is located, (c) in the case of a Foreign
Lender (other than an assignee pursuant to a request by a Borrower under Section 2.19(b)), any
withholding tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign
Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to
such Foreign Lender’s failure to comply with Section 2.17(e), except to the extent that such
Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending
office (or assignment), to receive additional amounts from the Borrowers with respect to such
withholding tax pursuant to Section 2.17(a) and (d) any amount withheld from any payment made to a
Lender under this Agreement that is attributable to such Lender’s failure to comply with Section
2.17(g).

          “Existing Lender” means a Person holding loans and commitments under the Original
Credit Agreement as of the Effective Date (immediately prior to giving effect to this Agreement),
solely in their capacity as such, and not in their capacity as a “Lender” hereunder, if applicable.

          “Fair Market Value Differential” means with respect to any sale, transfer or
disposition of any asset of a Loan Party to a Subsidiary that is not a Loan Party, the difference
between the fair market value of such asset sold, transferred and disposed of and the cash proceeds
received by such Loan Party from such Subsidiary that is not a Loan Party.

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

          “Fee Letter” means that certain Fee Letter dated as of the date hereof among the
Administrative Agent and the Borrowers, as the same may be amended, restated or otherwise modified
from time to time.

          “Financial Officer” means the chief financial officer, principal accounting officer,
treasurer, assistant treasurer or controller of a Loan Party.

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

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          “Foreign Subsidiary” has the meaning set forth in Section 1.3 of the US Security
Agreement.

          “Funding Account” has the meaning assigned to such term in Section 4.01(h).

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

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

          “Grants of Security Interests in Intellectual Property” means, collectively, the Grant
of Security Interest in Patent Rights, the Grant of Security Interest in Trademark Rights and the
Grant of Security Interest in Copyright Rights to be filed with the United States Patent and
Trademark Office.

          “Guarantee” of or by any Person (the “guarantor”) means any obligation,
contingent or otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase
or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other obligation or (d) without duplication of any other
Guarantee of such Indebtedness or obligation, as an account party in respect of any letter of
credit or letter of guaranty issued to support such Indebtedness or obligation; provided,
that the term Guarantee shall not include endorsements for collection or deposit in the ordinary
course of business.

          “Guaranteed Obligations” has the meaning assigned to such term in Section 10.01.

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

          “Holdings” means Libbey Inc., a Delaware corporation.

          “Inactive Subsidiary” means Crisa Industrial LLC, a Delaware limited liability
company.

          “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations
of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations
of such Person under conditional sale or other title retention agreements relating to property
acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase
price of property or services (excluding current accounts payable and accrued liabilities with
respect to obligations owing to employees in the ordinary course of business), (e) all Indebtedness
of others secured by (or for which the holder of such Indebtedness has an existing right,
contingent or otherwise, to be secured by) any Lien on

15

 

property owned
or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed,
provided, however, that such Indebtedness, if not assumed, shall be valued at the lower of fair
market value of such property on the amount of such Indebtedness incurred, (f) all Guarantees by
such Person of Indebtedness of others, (g) all Capital Lease Obligations of such Person, (h) all
obligations, contingent or otherwise, of such Person as an account party in respect of letters of
credit and letters of guaranty, (i) all obligations, contingent or otherwise, of such Person in
respect of bankers’ acceptances, (j) obligations under any liquidated earn-out and (k) any other
Off-Balance Sheet Liability. The Indebtedness of any Person shall include the Indebtedness of any
other entity (including any partnership in which such Person is a general partner) to the extent
such Person is liable therefor as a result of such Person’s ownership interest in or other
relationship with such entity, except to the extent the terms of such Indebtedness provide that
such Person is not liable therefor.

          “Indemnified Taxes” means Taxes other than Excluded Taxes.

          “Information Memorandum” means the Offering Memorandum dated as of January 28, 2010,
relating to the offering of the Senior Notes.

          “Intellectual Property” means the collective reference to all rights, priorities and
privileges relating to intellectual property, whether arising under United States, multinational or
foreign laws or otherwise, including copyrights, copyright licenses, patents, patent licenses,
trademarks, trademark licenses, technology, know-how and processes, and all rights to sue at law or
in equity for any infringement or other impairment thereof, including the right to receive all
proceeds and damages therefrom.

          “Intercreditor Agreement” means the Intercreditor Agreement, dated as of February 8,
2010, among the US Borrower, Holdings, the other US Loan Parties party thereto, Administrative
Agent and The Bank of New York Mellon Trust Company, N.A., as Trustee, as the same has been
and may further be amended, restated or otherwise modified from time to time.

          “Interest Election Request” means a request by the Borrower Representative to convert
or continue a Revolving Borrowing in accordance with Section 2.07.

          “Interest Payment Date” means (a) with respect to any CBFR Loan (other than a
Swingline Loan), the first Business Day of each April, July, October and January and the Maturity
Date, (b) with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to
the Borrowing of which such Loan is a part and, in the case of a Eurocurrency Borrowing with an
Interest Period of more than three months’ duration, each day prior to the last day of such
Interest Period that occurs at intervals of three months’ duration after the first day of such
Interest Period and the Maturity Date and (c) with respect to any Swingline Loan, the day that such
Loan is required to be repaid and the Maturity Date.

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

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case of a Revolving Borrowing, thereafter shall be the effective date of the most recent
conversion or continuation of such Borrowing.

          “Inventory” has the meaning assigned to such term in the US Security Agreement and,
with respect to the Netherlands Loan Parties, “Movables” as defined in the Deed of Disclosed
Pledges of Movables in so far as it constitutes inventory for the purposes hereof.

          “Issuing Bank” means Chase, in its capacity as the issuer of Letters of Credit
hereunder, and its successors in such capacity as provided in Section 2.06(i) or if Chase is unable
to issue a requested Letter of Credit, subject to Chase’s consent (not to be unreasonably
withheld), any other Lender that upon request by the Borrower Representative consents to be an
Issuing Bank hereunder. The Issuing Bank may, in its discretion, arrange for one or more Letters
of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank”
shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

          “Joinder Agreement” has the meaning assigned to such term in Section 5.14.

          “Judgment Currency” has the meaning set forth in Section 9.18(b).

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

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

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

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

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

          “Libbey Europe Sublimit” means an amount equal to $55,000,000.

          “LIBO Rate” means, with respect to any Eurocurrency Borrowing made in dollars or
Euros, for any Interest Period, the rate appearing on Reuters Screen LIBOR01 Page (or on any
successor or substitute page of such Service, or any successor to or substitute for such Service,
providing rate quotations comparable to those currently provided on such page of such Service, as
determined by the Administrative Agent from time to time for purposes of providing quotations of
interest rates applicable to dollar or Euro deposits, as applicable, in the London interbank
market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of
such Interest Period, as the rate for dollar or Euro deposits, as applicable, with a maturity
comparable to such Interest Period. In the event that such rate is not available at such time for
any reason, then the “LIBO Rate” with respect to such Eurocurrency Borrowing for such
Interest Period shall be the rate at which dollar or Euro deposits, as applicable, of $5,000,000
and for a maturity comparable to such Interest Period are offered by the principal London office of
the Administrative Agent in immediately available funds in the London interbank market at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest

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Period. It is understood and acknowledged that the LIBO Rate with respect to borrowings in
dollars may be different from the LIBO Rate with respect to borrowings in Euros.

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

          “Loan Documents” means this Agreement, the Fee Letter, any promissory notes issued
pursuant to the Agreement, any Letter of Credit applications, the Collateral Documents, the
Intercreditor Agreement, the Loan Guaranty, any Collateral Access Agreement, any Deposit Account
Control Agreement, and all Borrowing Base Certificates and Borrowing Notices and all other
agreements, instruments, documents and certificates identified in Section 4.01 executed and
delivered to, or in favor of, the Administrative Agent or any Lenders and including all other
agreements, instruments, documents and certificates, whether heretofore, now or hereafter executed
by or on behalf of any Loan Party, or any employee of any Loan Party, and delivered to the
Administrative Agent or any Lender in connection with the Agreement or the transactions
contemplated thereby. Any reference in the Agreement or any other Loan Document to a Loan Document
shall include all appendices, exhibits or schedules thereto, and all amendments, restatements,
supplements or other modifications thereto, and shall refer to the Agreement or such Loan Document
as the same may be in effect at any and all times such reference becomes operative.

          “Loan Guarantor” means each of the US Loan Guarantors and the Netherlands Loan
Guarantors.

          “Loan Guaranty” means Article X of this Agreement.

          “Loan Parties” means the Netherlands Loan Parties and the US Loan Parties.

          “Loans” means the loans and advances made by the Lenders pursuant to this Agreement,
including Swingline Loans and Protective Advances.

          “Local Time” means, with respect to any Borrowing or payment made by the US Borrower
or the Netherlands Borrower, Chicago time and London time, respectively.

          “Material Adverse Effect” means a material adverse effect on (a) the business, assets,
operations or financial condition of Holdings and its Subsidiaries taken as a whole, (b) the
ability of any Loan Party to perform any of its material obligations under the Loan Documents to
which it is a party, (c) the Administrative Agent’s Liens (on behalf of itself and the Lenders) on
the Collateral or the priority of such Liens, or (d) the rights of or benefits available to the
Administrative Agent, the Issuing Bank or the Lenders hereunder.

          “Material Indebtedness” means Indebtedness (other than the Loans and Letters of
Credit), or obligations in respect of a Swap Agreement of any Loan Party or any of its Subsidiaries
in an aggregate principal amount exceeding $5,000,000. For purposes of determining Material
Indebtedness, the “obligations” of Holdings or any Subsidiary in respect of any Swap Agreement at
any time shall be the maximum aggregate amount (giving effect to any netting agreements) that
Holdings or such Subsidiary would be required to pay if such Swap Agreement were terminated at such
time.

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          “Maturity Date” means April 8, 2014, or any earlier date on which the Commitments are
permanently reduced to zero or otherwise terminated pursuant to the terms hereof.

          “Maximum Liability” has the meaning assigned to such term in Section 10.10.

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

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

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

          “Netherlands Availability” means, with respect to the Netherlands Borrower, at any
time, an amount equal to (a) the lesser of the Revolving Netherlands Sublimit and the Netherlands
Borrowing Base at such time minus (b) the aggregate amount of the Revolving Netherlands
Exposures of all Revolving Lenders at such time; provided that such Netherlands
Availability will at no time exceed the difference of (x) the sum of the total Revolving
Commitments (less (i) the Availability Block and (ii) Reserves (other than Reserves which Agent
elects not to deduct for such purpose in its sole discretion)) minus (y) the Aggregate
Credit Exposure at such time; and provided, further, that such Netherlands
Availability will at no time exceed the difference of (i) the Libbey Europe Sublimit minus
(ii) the aggregate amount of the Credit Exposures of all Lenders at such time relating to the
Netherlands Borrower.

          “Netherlands Bank Account Establishment Trigger Event” is defined in the
definition of Restriction Period.

          “Netherlands Borrower” means Libbey Europe B.V., a limited liability company
incorporated in The Netherlands.

          “Netherlands Borrowing Base” means, at any time, the sum of (a) 85% of the Netherlands
Loan Parties’ Eligible Accounts at such time, plus (b) the lesser of (i) 65% of the
Netherlands Loan Parties’ Eligible Inventory, valued at the lower of cost or market value,
determined on a first-in-first-out basis, at such time and (ii) the product of 85% multiplied by
the Netherlands Loan Parties’ Net Orderly Liquidation Value percentage identified in the most
recent inventory appraisal ordered by the Administrative Agent multiplied by the Netherlands Loan
Parties’ Eligible Inventory, valued at the lower of cost or market value, determined on a
first-in-first-out basis, at such time, minus (c) Reserves without duplication of the
Reserves with respect to the US Borrowing Base related to the Netherlands Loan Parties. The maximum
amount of the Netherlands Borrowing Base attributable to Inventory is $12,500,000. The
Administrative Agent may, in its Permitted Discretion, reduce the advance rates set forth above,
adjust Reserves or reduce one or more of the other elements used in computing the Netherlands
Borrowing Base.

          “Netherlands Borrowing Base Certificate” means a certificate, signed and certified as
accurate and complete by a Financial Officer of the Borrower Representative, in substantially the
form of Exhibit D or another form which is acceptable to the Administrative Agent in its
sole discretion.

          “Netherlands Collection Account” means the collection account maintained by the
Netherlands Borrower with the Administrative Agent and designated as such by Administrative Agent.

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

          “Netherlands Collateral Documents” means, collectively, the Netherlands Security
Agreements, the Netherlands Mortgages and any other documents granting a Lien upon the Netherlands
Collateral as security for payment of the Netherlands Secured Obligations.

          “Netherlands Financial Supervision Act” means the Netherlands Financial
Supervision Act (Wet op het financieel toezicht).

          “Netherlands Loan Guarantors” means the US Borrower’s Subsidiaries that are
organized under the laws of The Netherlands (other than the Netherlands Borrower).

          “Netherlands Loan Party” means the Netherlands Borrower, each Netherlands Loan
Guarantor party hereto and the Netherlands Security Agreement, and any other Person organized under
the laws of The Netherlands who becomes a party to this Agreement and the Netherlands Security
Agreement pursuant to a Joinder Agreement.

          “Netherlands Loans” means the loans and advances made by the Lenders to the
Netherlands Borrower pursuant to this Agreement, including Protective Advances made with respect to
the Netherlands Borrower.

          “Netherlands Mortgage” means each Mortgage in respect of owned real property located
in the Netherlands of a Netherlands Loan Party.

          “Netherlands Obligations” means all obligations in respect of unpaid principal of and
accrued and unpaid interest (including without limitation any post-petition interest, whether
allowed or not) on the Netherlands Loans, all accrued and unpaid fees and all expenses,
reimbursements, indemnities and other obligations of any Netherlands Loan Party to the Lenders or
to any Lender, the Administrative Agent or any indemnified party arising under any Loan Document.

          “Netherlands Secured Obligations” means all Netherlands Obligations, together with all
(i) Banking Services Obligations of the Netherlands Borrower or any Netherlands Loan Guarantor and
(ii) Swap Obligations of the Netherlands Borrower or any Netherlands Loan Guarantor owing to one or
more Lenders or their respective Affiliates; provided that with respect to any transaction
relating to such Banking Services Obligation or Swap Obligation, the Lender party thereto (other
than Chase) shall have delivered written notice to the Administrative Agent within three Business
Days of execution of such transaction (or within 30 days of the Effective Date with respect to Swap
Obligations that were incurred prior to the Effective Date) that such a transaction has been
entered into and that it constitutes a Netherlands Secured Obligation entitled to the benefits of
the Collateral Documents.

          “Netherlands Security Agreement” means each of that certain Deed of Disclosed Pledges
of Receivables, Deed of Undisclosed Pledge of Receivables, Deed of Non-Possessory Pledges of
Movables, Deed of Pledges of Intellectual Property Rights, Deed of Disclosed Pledges of Financial
Rights, those certain Deeds of Pledges of Shares and those certain Deeds of Mortgages, dated as of
June 16, 2006, between, as the case may be, the Netherlands Borrower, Netherlands Loan Guarantors
(and certain of the US Loan Parties with respect to pledges of Equity Interests issued by the
Netherlands Loan Parties) and the Administrative Agent, for the benefit of the Administrative Agent
and the Lenders, and

20

 

any other pledge or security agreement entered into, on or after the date of this Agreement by
the Netherlands Borrower or any Netherlands Loan Guarantor (as required by this Agreement or any
other Loan Document) as the same has been and may further be amended, restated or otherwise
modified from time to time.

          “Netherlands Swingline Rate” means the rate (adjusted for statutory reserve
requirements for Eurocurrency liabilities) for Eurocurrency deposits for a period of one day quoted
by JPMorgan Chase Bank, N.A., London Branch, plus the Applicable Rate for such Eurocurrency Loan
plus 1%.

          “Netherlands Trigger Event” is defined in the definition of Restriction Period.

          “Net Orderly Liquidation Value” means, with respect to Inventory of any Person,
the orderly liquidation value thereof as determined in a manner acceptable to the Administrative
Agent by an appraiser acceptable to the Administrative Agent, net of all costs of liquidation
thereof.

          “Net Proceeds” means, with respect to any event, (a) the cash proceeds received in
respect of such event including (i) any cash received in respect of any non-cash proceeds
(including any cash payments received by way of deferred payment of principal pursuant to a note or
installment receivable or purchase price adjustment receivable or otherwise, but excluding any
interest payments), but only as and when received, (ii) in the case of a casualty, insurance
proceeds and (iii) in the case of a condemnation or similar event, condemnation awards and similar
payments, net of (b) the sum of (i) all reasonable professional and consulting fees and
out-of-pocket expenses paid to third parties (other than Affiliates) in connection with such event,
(ii) in the case of a sale, transfer or other disposition of an asset (including pursuant to a sale
and leaseback transaction or a casualty or a condemnation or similar proceeding), the amount of all
payments required to be made as a result of such event to repay Indebtedness (other than Loans)
secured by such asset or otherwise subject to mandatory prepayment as a result of such event and
(iii) the amount of all Taxes paid (or reasonably estimated to be payable) and the amount of any
reserves established to fund contingent liabilities reasonably estimated to be payable, in each
case during the year that such event occurred or the next succeeding year and that are directly
attributable to such event (as determined reasonably and in good faith by a Financial Officer).

          “Non-Consenting Lender” has the meaning assigned to such term in Section 2.19(b).

          “Non-Mortgaged Property” has the meaning set forth in Section 3.05.

          “Non-Paying Guarantor” has the meaning assigned to such term in Section 10.11.

          “Non-Restricted Deposit Accounts” means (a) payroll and fiduciary accounts, accounts
of Subsidiaries that are not Loan Parties, employee benefits, withholding tax, escrow and customs
accounts, in each case solely as long as any such account is used exclusively for the purposes
described in this clause (a), and (b) accounts for retail stores, petty cash accounts and
other purposes (with an aggregate amount on deposit in all such accounts specified clause (b) not
to exceed $1,000,000; provided that if at any time any such account specified in clause (b)
shall have on deposit $500,000 or more, such account shall cease to be a “Non-Restricted Deposit
Account” and shall be subject to a control agreement pursuant to Section 7.1(a) of the Security
Agreement).

          “Obligated Party” has the meaning assigned to such term in Section 10.02.

          “Obligations” means, with respect to the US Borrower and the Netherlands Borrower, US
Obligations and Netherlands Obligations, respectively. Unless otherwise specified, “Obligations”
shall refer to the Obligations with respect to the Borrowers.

21

 

          “Off-Balance Sheet Liability” of a Person means (a) any repurchase obligation or
liability of such Person with respect to accounts or notes receivable sold by such Person, (b) any
indebtedness, liability or obligation under any so-called “synthetic lease” transaction entered
into by such Person, or (c) any indebtedness, liability or obligation arising with respect to any
other transaction which is the functional equivalent of or takes the place of borrowing but which
does not constitute a liability on the balance sheets of such Person (other than operating leases).
For purposes of this Agreement, the outstanding principal amount of Off-Balance Sheet Liabilities
shall be deemed equal to the amount of those liabilities that would be outstanding if the
transaction was structured as an on balance sheet secured financing.

          “Other Taxes” means any and all present or future stamp or documentary taxes or any
other excise or property taxes, charges or similar levies arising from any payment made hereunder
or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement.

          “Participant” has the meaning set forth in Section 9.04.

          “Participating Member State” means any member state of the European Union that
adopts or has adopted the Euro as its lawful currency in accordance with legislation of the
European Union relating to the Economic and Monetary Union.

          “Paying Guarantor” has the meaning assigned to such term in Section 10.11.

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

          “Permitted Acquisition” means the acquisition by the US Borrower, directly or through
a Subsidiary, of an interest (whether of stock or of assets) in any other Person, provided that all
of the following conditions shall have been satisfied: (a) such other Person shall operate a
similar business or reasonable extension thereof or reasonably related thereto to that of Holdings
and its Subsidiaries, (b) no Default or Event of Default shall have occurred and be continuing and
none shall exist as a result of and after giving effect thereto, (c) if a Borrower shall merge or
amalgamate with such other Person, such Borrower shall be the surviving party of such merger or
amalgamation, (d) if such Person shall become a Subsidiary of the US Borrower, such new Subsidiary
shall, if required by Section 5.14 hereof become a US Loan Party or a Netherlands Loan Party as
applicable and take such further actions required by Section 5.14, (e) the Borrower shall have
delivered to the Administrative Agent a certificate demonstrating that, both immediately prior to
and immediately after giving effect to such acquisition, Aggregate Availability (without giving
effect to the Availability Block) exceeds $35,000,000 and (f) the aggregate amount expended
(whether in cash, assumed indebtedness (assumed indebtedness for this purpose shall be deemed to
include the maximum potential amount of any applicable earn-out related to such acquisitions),
deferred payments or other consideration) by the US Borrower and its Subsidiaries for all Permitted
Acquisitions shall not exceed $25,000,000.

          “Permitted Discretion” means a determination made in good faith and in the exercise of
commercially reasonable (from the perspective of a secured asset-based lender) business judgment.

          “Permitted Encumbrances” means:

          (a) Liens imposed by law for Taxes that are not yet due or are being contested in
compliance with Section 5.04;

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          (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like
Liens imposed by law, arising in the ordinary course of business and securing obligations
that are not overdue by more than 30 days or are being contested in compliance with Section
5.04;

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

          (d) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds, customs duties, and other
obligations of a like nature, in each case in the ordinary course of business;

          (e) judgment liens in respect of judgments that do not constitute an Event of Default
under clause (k) of Article VII;

          (f) survey exceptions, encumbrances, ground leases, easements or reservations of, or
rights of others for, licenses, rights of way, sewers, electric lines, telegraph and
telephone lines and other similar purposes, or zoning, building codes or other restrictions
(including minor defects or irregularities in title and similar encumbrances) as to the use
of real properties that do not in the aggregate materially adversely affect the value of
said properties or materially impair their use in the operation of the business of Holdings
or any of its Subsidiaries;

          (g) (1) non-exclusive licenses and sublicenses of Intellectual Property granted in the
ordinary course of business, provided, that no such license or sublicense may be
granted that would reasonably be expected to constitute an abandonment of any Loan Party’s
or any Subsidiary’s trade name or trade marks or other similar Intellectual Property if such
abandonment would materially interfere with the business of Holdings and its Subsidiaries;
or (2) leases or subleases not otherwise prohibited under this Agreement and the other Loan
Documents granted to others not interfering in any material respect in the business of
Holdings or any of its Subsidiaries;

          (h) Liens arising solely by virtue of any statutory or common law provisions relating
to banker’s Liens, rights of set-off or similar rights and remedies with respect to the
deposit accounts constituting Non-Restricted Accounts or set forth on Schedule 6.02;

          (i) Liens arising from precautionary Uniform Commercial Code financing statement
filings regarding operating leases permitted hereunder describing the leased property and
proceeds thereof as collateral; and

          (j) any interest or title of a lessor in the leased property under any Capital Lease
Obligation permitted pursuant to Section 6.01 or any operating lease entered into by or
binding upon a Loan Party or a Subsidiary in the ordinary course of its business and
covering only the asset so leased and the personal property thereon and proceeds thereof;

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

          “Permitted Investments” means:

          (a) direct obligations of, or obligations the principal of and interest on which are
unconditionally guaranteed by, the United States of America (or by any agency thereof to the

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extent such obligations are backed by the full faith and credit of the United States of
America), in each case maturing within one year from the date of acquisition thereof;

          (b) marketable general obligations issued by any state of the United States of America
or any political subdivision of any such state or any public instrumentality thereof
maturing within one year from the date of acquisition of the United States (provided that
the full faith and credit of the United States is pledged in support thereof) and, at the
time of acquisition having a credit rating of “A” or better from S&P or Moody’s;

          (c) investments in commercial paper maturing within 270 days from the date of
acquisition thereof and having, at such date of acquisition, a credit rating of A-2 or the
equivalent thereof from S&P or P-2 or the equivalent thereof from Moody’s;

          (d) investments in certificates of deposit, banker’s acceptances and time deposits
maturing within 270 days from the date of acquisition thereof issued or guaranteed by or
placed with, and money market deposit accounts issued or offered by, any domestic office of
any commercial bank organized under the laws of the United States of America or any State
thereof which has a combined capital and surplus and undivided profits of not less than
$500,000,000;

          (e) fully collateralized repurchase agreements with a term of not more than 30 days for
securities described in clauses (a), (b) and (d) above and entered into with a financial
institution satisfying the criteria described in clause (d) above;

          (f) money market funds that (i) comply with the criteria set forth in Securities and
Exchange Commission Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA
by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000; and

          (g) in the case of any Foreign Subsidiary, (i) marketable direct obligations issued by,
or unconditionally guaranteed by, the sovereign nation in which such Foreign Subsidiary is
organized and is conducting business or issued by any agency of such sovereign nation and
backed by the full faith and credit of such sovereign nation, in each case maturing within
one year from the date of acquisition, so long as the indebtedness of such sovereign nation
is rated at least A by S&P or A2 by Moody’s or carries an equivalent rating from a
comparable foreign rating agency or (ii) investments of the type and maturity described in
clauses (b) through (f) above of foreign obligors, which investments or obligors have
ratings described in such clauses or equivalent ratings from comparable foreign rating
agencies.

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

          “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which any 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.

          “Prepayment Event” means, without duplication:

          (a) any sale, transfer or other disposition (including pursuant to a sale and leaseback
transaction) of any property or asset of any Loan Party, other than (i) dispositions
described in Section 6.05(a), (b), (j) or (k) and (ii) sales of Senior Notes Priority
Collateral to the

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extent such proceeds are required pursuant to the terms of the Senior Notes Indenture
to permanently prepay Senior Notes Obligations permitted hereunder and are in fact used to
permanently prepay such Senior Notes Obligations;

          (b) any sale of the Syracuse Property or the Specified Sale so long as no Default or
Event of Default exists or would result therefrom; or

          (c) any casualty or other insured damage to, or any taking under power of eminent
domain or by condemnation or similar proceeding of, any property or asset of any Loan Party,
other than insurance proceeds and condemnation awards with respect to Senior Notes Priority
Collateral to the extent such proceeds are required pursuant to the terms of the Senior
Notes Indenture to permanently prepay Senior Notes Obligations permitted hereunder and are
in fact used to permanently prepay such Senior Notes Obligations.

          “Prime Rate” means the rate of interest per annum publicly announced from time to time
by Chase as its prime rate; each change in the Prime Rate shall be effective from and including the
date such change is publicly announced as being effective.

          “Projections” has the meaning assigned to such term in Section 5.01(f).

          “Protective Advance” has the meaning assigned to such term in Section 2.04.

          “Refinancing Senior Note Indebtedness” means Indebtedness (“Refinanced
Indebtedness”) which represents a refinancing, renewal, or extension (such refinancings,
renewals and extensions, each a “Refinancing”, or “Refinanced” in the applicable
context) of Indebtedness constituting Senior Note Obligations permitted hereunder (“Original
Indebtedness”) so long as:

          (a) such Refinancings do not result in an increase in the principal amount of the
Original Indebtedness so Refinanced, other than by the amount of prepayment premiums paid thereon,
interest accrued on the Original Indebtedness and the reasonable customary fees and expenses
incurred in connection therewith,

          (b) (i) none of the payment dates applicable to the Refinanced Indebtedness are earlier than
any of the payment dates applicable to the Original Indebtedness so Refinanced, (ii) neither the
interest rate nor any other material pricing terms pertaining to the Refinanced Indebtedness are
higher than the interest rate or other such pricing terms pertaining to the Original Indebtedness
so Refinanced, (iii) the terms and conditions (including without limitation subordination and
intercreditor terms) of the Refinanced Indebtedness, taken as a whole, are no less favorable to any
of Holdings, Borrowers, any of their Subsidiaries, Administrative Agent or any Lender than the
terms and conditions of the Original Indebtedness so Refinanced, and (iv) none of the
representations and warranties, covenants or events of default set forth in the documents governing
the Refinanced Indebtedness are more restrictive to Holdings, Borrowers or any of their
Subsidiaries than the representations and warranties, covenants or events of defaults set forth in
the Loan Documents,

          (c) the Refinanced Indebtedness and other obligations pertaining thereto (and any Liens
securing such Refinanced Indebtedness and other obligations) must be subject to a subordination and
intercreditor agreement in form and substance satisfactory to the Administrative Agent in its sole
discretion (it being understood that and agreed the subordination and intercreditor agreement
would be in form and substance satisfactory to the Administrative Agent if it was on the same terms
and conditions, and in the same form, as the Intercreditor Agreement),

25

 

          (d) the Refinanced Indebtedness is not recourse to any Person that is liable on account
of the Obligations other than those Persons which were obligated (and were permitted under this
Agreement to be so obligated) with respect to the Original Indebtedness so Refinanced,

          (e) the Refinanced Indebtedness is not secured by any assets of Holdings, Borrowers or any of
their Subsidiaries, other than those assets which were subject to Liens permitted under this
Agreement to secure the Original Indebtedness so Refinanced,

          (f) this Agreement (along with any other applicable Loan Documents) shall be amended in a
manner in form and substance acceptable to Administrative Agent in its sole discretion to conform
this Agreement (and such other Loan Documents) to the provisions of the Refinanced Indebtedness
(such as updating the definitions of Intercreditor Agreement, Senior Notes, Senior Notes Indenture
and Senior Notes Obligations) to preserve substantially the same rights and interests the
Administrative Agent and the Lenders had with respect to the Original Indebtedness that was so
Refinanced and have those rights and interests apply to such Refinanced Indebtedness, and

          (g) Borrower Representative has provided copies of all material documents prior to the
execution thereof (with reasonably sufficient time for Administrative Agent to review such
documents prior to the execution thereof) pertaining to the Refinanced Indebtedness.

          “Register” has the meaning set forth in Section 9.04.

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

          “Report” means reports prepared by the Administrative Agent or another Person showing
the results of appraisals, field examinations or audits pertaining to the Borrowers’ assets from
information furnished by or on behalf of the Borrowers, after the Administrative Agent has
exercised its rights of inspection pursuant to this Agreement, which Reports may be distributed to
the Lenders by the Administrative Agent.

          “Required Lenders” means, at any time, Lenders having Credit Exposure (USD Equivalent)
and unused Revolving Commitments representing more than 50% of the sum of the total Credit Exposure
(USD Equivalent) and unused Revolving Commitments at such time and based on the Exchange Rate in
effect at such time.

          “Requirement of Law”: as to any Person, the Certificate of Incorporation and By-Laws
or other organizational or governing documents of such Person, and any law, treaty, rule or
regulation or determination of an arbitrator or a court or other Governmental Authority, in each
case applicable to or binding upon such Person or any of its property or to which such Person or
any of its property is subject.

          “Reserves” means any and all reserves which the Administrative Agent deems necessary,
in its Permitted Discretion, to maintain (including, without limitation, an availability reserve,
reserves for accrued and unpaid interest on the Secured Obligations, Banking Services Reserves,
reserves for rent at locations leased by any Loan Party and for consignee’s, warehousemen’s and
bailee’s charges, reserves for dilution of Accounts, reserves for Inventory shrinkage, reserves for
customs charges and shipping charges related to any Inventory in transit, reserves for Swap
Obligations, reserves for contingent

26

 

liabilities of any Loan Party, reserves for uninsured losses of any Loan Party, reserves for
uninsured, underinsured, un-indemnified or under-indemnified liabilities or potential liabilities
with respect to any litigation and reserves for Taxes, fees, assessments, and other governmental
charges) with respect to the Collateral or any Loan Party.

          “Reset Date” means the second Business Day following each Calculation Date,
provided that, in connection with any Calculation Date designated pursuant to clause (b) of
the definition thereof, the applicable Reset Date shall be such Calculation Date.

          “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests in any Loan Party or any
Subsidiary, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such Equity Interests in the US Borrower or any option, warrant
or other right to acquire any such Equity Interests in the US Borrower.

          “Restriction Commencement Date” means a date on which a Restriction Trigger Event
shall have occurred.

          “Restriction Period” means the period commencing on a Restriction Commencement Date
and ending on a Restriction Release Date.

          “Restriction Period Grid” means the table set forth below setting forth the applicable
Restriction Trigger Amounts and Restriction Release Amounts with respect to each provision of the
Loan Documents wherein the term “Restriction Period” is used:

	 	 	 	 	 	 	 	 	 
	Relevant Provision	 	Restriction Trigger Amount	 	Restriction Release Amount
	Section 5.01(g), (h)
and (k) of this
Agreement
	 	$	25,000,000	 	 	$	30,000,000	 
	 
	 	 	 	 	 	 	 	 
	Section 6.08(a) of
this Agreement
	 	$	25,000,000	 	 	$	40,000,000	 
	 
	 	 	 	 	 	 	 	 
	Article VII of the
US Security Agreement
	 	$	20,000,000	 	 	$	30,000,000	 
	 
	 	 	 	 	 	 	 	 
	Provisions of the
Netherlands
Collateral Documents
referring to
“Netherlands Trigger
Event”
	 	$	20,000,000	 	 	$	30,000,000	 
	 
	 	 	 	 	 	 	 	 
	Provisions of the
Netherlands
Collateral Documents
referring to
“Netherlands Bank
Account
Establishment
Trigger Event”
	 	$	31,000,000	 	 	$	41,000,000	 

          “Restriction Release Amount” means, with respect to each provision of the Loan
Documents wherein the term “Restriction Period” is used, the amount set forth in the Restriction
Period Grid opposite the reference to such provision.

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          “Restriction Release Date” means a date on which a Restriction Release Event shall
have occurred.

          “Restriction Release Event” means that (a) the sum of (i) the Aggregate Availability
(without giving effect to the Availability Block) plus (ii) the aggregate amount of cash or
Permitted Investments subject to a first priority perfected security interest in favor of the
Administrative Agent pursuant to the Loan Documents is greater than or equal to the applicable
Restriction Release Amount as of any Reset Date and during the period of thirty (30) consecutive
days immediately succeeding such Reset Date and (b) unless otherwise consented to by Administrative
Agent in its sole discretion for the purposes of this definition, no Default or Event of Default
has occurred and is continuing.

          “Restriction Trigger Amount” means, with respect to each provision of the Loan
Documents wherein the term “Restriction Period” is used, the amount set forth in the Restriction
Period Grid opposite the reference to such provision.

          “Restriction Trigger Event” means that (a) both (i) as of any Reset Date the sum of
(A) the Aggregate Availability (without giving effect to the Availability Block) plus (B)
the aggregate amount of cash or Permitted Investments subject to a first priority perfected
security interest in favor of the Administrative Agent pursuant to the Loan Documents fails to be
equal to or greater than the applicable Restriction Trigger Amount and (ii) such failure shall have
continued unremedied for three (3) consecutive days following notice of such failure from the
Administrative Agent or (b) unless otherwise consented to by Administrative Agent in its sole
discretion for the purposes of this definition, an Event of Default has occurred and is continuing,
or, with respect to Section 6.8(a) of the Credit Agreement, a Default or Event of Default has
occurred and is continuing.

          “Revolving Commitment” means, with respect to each Lender, the commitment, if any, of
such Lender to make Revolving Loans and to acquire participations in Letters of Credit and
Swingline Loans hereunder, expressed as an amount representing the maximum possible aggregate
amount of such Lender’s Revolving Exposure hereunder, as such commitment may be (a) reduced from
time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to
assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s
Commitment is set forth on the Commitment Schedule, or in the Assignment and Assumption
pursuant to which such Lender shall have assumed its Revolving Commitment. The initial aggregate
amount of the Lenders’ Revolving Commitments is $110,000,000.

          “Revolving Euro Exposure” means, with respect to any Lender as it relates to any
Borrower at any time, the Revolving Exposure of such Lender as it relates to such Borrower at such
time that is denominated in Euros.

          “Revolving Exposure” means, with respect to any Lender as it relates to any Borrower
at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans to such
Borrower, in each case, and its LC Exposure with respect to any Letter of Credit requested by such
Borrower and an amount equal to its Applicable Percentage of the aggregate principal amount of
Swingline Loans to such Borrower, in each case, at such time.

          “Revolving Lender” means, as of any date of determination, a Lender with a Revolving
Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving
Exposure.

          “Revolving Loan” means a Loan made pursuant to Section 2.01(b).

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          “Revolving Netherlands Exposure” means, with respect to any Lender as it relates to
the Netherlands Borrower, at any time, the sum of the principal amount of such Lender’s Netherlands
Loans outstanding at such time made pursuant to the Revolving Netherlands Sublimit.

          “Revolving Netherlands Sublimit” means, with respect to each Lender, the obligation,
if any, of such Lender to make Revolving Loans hereunder to the Netherlands Borrower based on the
Netherlands Borrowing Base, expressed as an amount representing the maximum possible aggregate
amount of such Lender’s Revolving Exposure hereunder, as such obligation may be (a) reduced from
time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to
assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s
Revolving Netherlands Sublimit is set forth on the Commitment Schedule, or in the
Assignment and Assumption pursuant to which such Lender shall have assumed its Revolving
Netherlands Sublimit. The initial aggregate amount of the Lenders’ Revolving Netherlands Sublimit
is $20,000,000.

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

          “Secured Obligations” means, collectively, the US Secured Obligations and Netherlands
Secured Obligations.

          “Security Agreement” means, with respect to the US Borrower and the Netherlands
Borrower, the US Security Agreement and the Netherlands Security Agreement, respectively. Unless
otherwise specified, “Security Agreement” shall refer to the US Security Agreement and the
Netherlands Security Agreement, collectively.

          “Senior Notes” means the 10% Senior Secured Notes due 2015 of the US
Borrower issued on the Effective Date pursuant to the Senior Notes Indenture, as the same may be
amended or otherwise modified from time to time to the extent permitted by this Agreement.

          “Senior Notes Indenture” means the Indenture, dated as of February 8, 2010, among the
US Borrower, Holdings, the other US Loan Parties party thereto and The Bank of New York Mellon
Trust Company, N.A., as Trustee, in connection with the issuance of the Senior Notes, as the same
may be amended or otherwise modified from time to time to the extent permitted by this Agreement.

          “Senior Notes Obligations” means all “Notes Obligations” (as defined in the
Intercreditor Agreement) other than Additional Pari Passu Senior Indebtedness Obligations (as
defined in the Intercreditor Agreement).

          “Senior Notes Priority Collateral” means the “Notes Priority Collateral” (as defined
in the Intercreditor Agreement).

          “Settlement” has the meaning assigned to such term in Section 2.05(d).

          “Settlement Date” has the meaning assigned to such term in Section 2.05(d).

          “Solvent” mean, with respect to each Loan Party, at any time that (i) the fair value
of the assets of such Loan Party, at a fair valuation, at such time exceed its debts and
liabilities, subordinated, contingent or otherwise; (ii) the present fair saleable value of the
property of such Loan Party at such time are greater than the amount that will be required to pay
the probable liability of its debts and other liabilities, subordinated, contingent or otherwise,
as such debts and other liabilities become absolute and matured; (iii) such Loan Party at such time
is able to pay its debts and liabilities, subordinated, contingent

29

 

or otherwise, as such debts and liabilities become absolute and matured; and (iv) such Loan
Party at such time does not have unreasonably small capital with which to conduct the business in
which it is engaged as such business is then conducted and is proposed to be conducted thereafter.

          “Specified Change in Control” means a “Change of Control” (or any other defined term
having a similar purpose) as defined in the Senior Notes Indenture.

          “Specified Sale” means the sale, transfer or disposition of the business and related
assets currently conducted by certain Subsidiaries of the Borrower to the extent expressly
identified to the Administrative Agent and Lenders prior to the Effective Date pursuant that
certain letter from the Borrower Representative to the Administrative Agent and the Lenders dated
as of February 5, 2010 entitled “Specified Sale Side Letter”.

          “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the
maximum reserve percentages (including any marginal, special, emergency or supplemental reserves)
expressed as a decimal established by the Board to which the Administrative Agent is subject with
respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency
Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed
pursuant to such Regulation D. Eurocurrency Loans shall be deemed to constitute eurocurrency
funding and to be subject to such reserve requirements. The Statutory Reserve Rate shall be
adjusted automatically on and as of the effective date of any change in any reserve percentage.

          “Subordinated Indebtedness” of a Person means any Indebtedness of such Person the
payment of which is contractually subordinated to payment of the Secured Obligations to the
reasonable written satisfaction of the Administrative Agent; provided, that the Senior
Notes Obligations shall not be deemed to be Subordinated Indebtedness for purposes hereof.

          “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of
which would be consolidated with those of the parent in the parent’s consolidated financial
statements if such financial statements were prepared in accordance with GAAP as of such date, as
well as any other corporation, limited liability company, partnership, association or other entity
of which securities or other ownership interests representing more than 50% of the equity or more
than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the
general partnership interests are, as of such date, owned, controlled or held by the parent or one
or more subsidiaries of the parent.

          “Subsidiary” means with respect to any Loan Party any direct or indirect subsidiary of
such Loan Party.

          “Supermajority Lenders” means, at any time, Lenders having Revolving Exposure and
unused Revolving Commitments representing 66 2/3% or more of the sum of the total Revolving
Exposure and unused Revolving Commitment.

          “Swap Agreement” means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or
more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom
stock or similar plan providing for payments only on account of services provided by current or
former directors, officers, employees or consultants of the Borrowers or the Subsidiaries shall be
a Swap Agreement.

30

 

          “Swap Obligations” of a Person means any and all obligations of such Person, whether
absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired
(including all renewals, extensions and modifications thereof and substitutions therefor), under
(a) any and all Swap Agreements, and (b) any and all cancellations, buy backs, reversals,
terminations or assignments of any Swap Agreement transaction.

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

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

          “Syracuse Property” has the meaning assigned to such term in Section 6.05.

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

          “Transactions” means the execution, delivery and performance by the Loan Parties of
this Agreement, the borrowing of Loans and other credit extensions, the use of the proceeds thereof
and the issuance of Letters of Credit hereunder and the guarantees made hereunder by any Loan
Guarantor.

          “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted LIBO Rate, the CB Floating Rate or another rate of interest reasonably determined by the
Administrative Agent, and whether such Loan or Borrowing is made in dollars or Euros.

          “UCC” means the Uniform Commercial Code as in effect from time to time in the State of
New York or any other state the laws of which are required to be applied in connection with the
issue of perfection of security interests.

          “United States” and “U.S.” means the United States of America.

          “Unliquidated Obligations” means, at any time, any Secured Obligations (or portion
thereof) that are contingent in nature or unliquidated at such time, including any Secured
Obligation that is: (i) an obligation to reimburse a bank for drawings not yet made under a letter
of credit issued by it; (ii) any other obligation (including any guarantee or any indemnification
obligation) that is contingent in nature at such time; or (iii) an obligation to provide collateral
to secure any of the foregoing types of obligations.

          “US Borrower” means Libbey Glass Inc., a Delaware corporation.

          “US Borrowing Base” means, at any time, the sum of (a) 85% of the Eligible Accounts at
such time of all US Loan Parties other than Holdings, plus (b) the lesser of (i) 65% of
such Loan Parties’ Eligible Inventory, valued at the lower of cost or market value, determined on a
first-in-first-out basis, at such time and (ii) the product of 85% multiplied by such US Loan
Parties’ Net Orderly Liquidation Value percentage identified in the most recent inventory appraisal
ordered by the Administrative Agent multiplied by such US Loan Parties’ Eligible Inventory, valued
at the lower of cost or market value, determined on a first-in-first-out basis, at such time,
minus (c) Reserves without duplication of any Reserves with respect to the Netherlands
Borrowing Base (including, but not limited to, (i) the Availability Block and (ii) the ERISA
Reserve) related to such US Loan Parties. The maximum amount of the US Borrowing Base attributable
to Inventory, together with Inventory attributable to the Netherlands Borrowing Base, is
$70,000,000. The Administrative Agent may, in its Permitted Discretion,

31

 

reduce the advance rates set forth above, adjust Reserves or reduce one or more of the other
elements used in computing the US Borrowing Base.

          Notwithstanding the foregoing, if at any time (x) an Event of Default is in existence or (y)
less than 65% of the aggregate gross dollar amount of the Accounts (other than Accounts owing to
Affiliates) and Inventory set forth on the US Borrowing Base Certificate are Accounts and Inventory
of the US Borrower (i.e., 35% or more of the aggregate gross dollar amount of the Accounts (other
than Accounts owing to Affiliates) and Inventory set forth on the US Borrowing Base Certificate are
Accounts and Inventory of US Loan Parties other than the US Borrower), then Administrative Agent
may in its sole discretion require that the US Borrowing Base be converted from a “consolidated
borrowing base” into “separate borrowing bases” whereby (subject only to such exceptions as
Administrative Agent may agree in its sole discretion) each of the US Loan Parties would only
receive access to US Loans (other than Protective Advances) to the extent the amount of the US
Borrowing Base was then attributable to Eligible Accounts and Eligible Inventory of such US Loan
Party. The Borrower Representative may designate in good faith certain Accounts and Inventory of
US Loan Parties that are Subsidiaries of the US Borrower as being excluded from such calculation
(and as a result thereof such Accounts and Inventory would not constitute Eligible Accounts or
Eligible Inventory for all purposes in this Agreement and the other Loan Documents). Any such
designation by the Borrower Representative would need to be included in the current US Borrowing
Base Certificate.

          “US Borrowing Base Certificate” means a certificate, signed and certified as accurate
and complete by a Financial Officer of the Borrower Representative, in substantially the form of
Exhibit C or another form which is acceptable to the Administrative Agent in its sole discretion.

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

          “US Collateral Documents” means, collectively, the US Security Agreement, the US
Mortgages, the Grants of Security Interests in Intellectual Property and any other documents
granting a Lien upon the US Collateral as security for payment of the Secured Obligations.

          “US General Availability” means, at any time, an amount equal to the difference of (a)
the lesser of the total Revolving Commitments (less (i) the Availability Block and (ii) Reserves
(other than Reserves which Agent elects not to deduct for such purpose in its sole discretion)) and
the US Borrowing Base at such time minus (b) the total Revolving Exposure (excluding
Revolving Netherlands Exposures) at such time; provided that such US General Availability will at
no time exceed the difference of (x) the sum of the total Revolving Commitments (less (i) the
Availability Block and (ii) Reserves (other than Reserves which Agent elects not to deduct for such
purpose in its sole discretion)) minus (y) the Aggregate Credit Exposure at such time.

          “US Loan Guarantors” means the US Borrower’s domestic Subsidiaries (other than the
Inactive US Subsidiary) and Holdings, and for the purposes of Article X hereof, shall also mean the
US Borrower.

          “US Loan Party” means the US Borrower, Holdings, the other US Loan Guarantors party
hereto and the US Security Agreement and any other domestic Subsidiary of Holdings who becomes a
party to this Agreement and the US Security Agreement pursuant to a Joinder Agreement and their
successors and assigns.

32

 

          “US Loans” means the loans and advances made by the Lenders to the US Borrower
pursuant to this Agreement, including Swingline Loans and Protective Advances.

          “US Mortgage” means each Mortgage in respect of real property of a US Loan Party.

          “US Non-Paying Guarantor” has the meaning assigned to such term in Section 10.11(a).

          “US Paying Guarantor” has the meaning assigned to such term in Section 10.11(a).

          “US Obligations” means all obligations in respect of unpaid principal of and accrued
and unpaid interest (including without limitation any post-petition interest, whether allowed or
not) on the US Loans, all LC Exposure, all accrued and unpaid fees and all expenses,
reimbursements, indemnities and other obligations (not constituting or arising in respect of
principal or interest or LC Disbursements) of any US Loan Party to the Lenders or to any Lender,
the Administrative Agent, the Issuing Bank or any indemnified party arising under any Loan
Document.

          “US Secured Obligations” means all US Obligations, together with all (i) Banking
Services Obligations of the US Borrower or any US Loan Guarantor and (ii) Swap Obligations of the
US Borrower or any US Loan Guarantor owing to one or more Lenders or their respective Affiliates;
provided with respect to any transaction relating to such Banking Services Obligation or
Swap Obligation, the Lender party thereto (other than Chase) shall have delivered written notice to
the Administrative Agent within three Business Days of execution of such transaction (or within 30
days of the Effective Date with respect to Swap Obligations that were incurred prior to the
Effective Date) that such a transaction has been entered into and that it constitutes a US Secured
Obligation entitled to the benefits of the US Collateral Documents.

          “US Security Agreement” means that certain Amended and Restated Pledge and Security
Agreement, dated as of the date of this Agreement, between the US Borrower, the US Loan Guarantors
and the Administrative Agent, for the benefit of the Administrative Agent and the Lenders, and any
other pledge or security agreement entered into, after the date of this Agreement by any other US
Loan Guarantor (as required by this Agreement or any other Loan Document), or any other Person, as
the same may be amended, restated or otherwise modified from time to time.

          “US Separate Borrowing Base Period” any period in which separate US Borrowing Bases
are required by the last paragraph of the definition of US Borrowing Base.

          “USD Equivalent” means, with respect to any amount of Euros, on any date, the amount
of dollars that may be purchased with such amount of Euros at the Exchange Rate in effect on such
date.

          “Wholly-Owned Subsidiary” means with respect to any Person, any other Person all of
the Capital Stock of which (other than directors’ qualifying shares required by law) is owned by
such Person directly and/or through other Wholly Owned Subsidiaries of such Person.

          “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

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

33

 

may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type
(e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency
Revolving Borrowing”).

          Section 1.03 Terms of Usage.

          (a) The definitions of terms herein shall apply equally to the singular and plural forms of
the terms defined. Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to
have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a)
any definition of or reference to any agreement, instrument or other document or contractual
obligation herein shall, unless otherwise specified, be construed as referring to such agreement,
instrument or other document or contractual obligation as from time to time amended, supplemented
or otherwise modified (subject to any restrictions on such amendments, supplements or modifications
set forth herein or any other Loan Document), (b) any reference herein to any Person shall be
construed to include such Person’s successors and permitted assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights. Unless otherwise
provided, dollar ($) baskets set forth in the representations and warranties, covenants and events
of default provisions of this Agreement (and other similar baskets; it being understood that this
sentence does not apply to Article II of this Agreement) are calculated as of each date of
measurement by the USD Equivalents thereof as of such date of measurement; provided that if
any such baskets are exceeded solely as a result of fluctuations in applicable currency exchange
rates after the last time such baskets were accessed, such baskets will not be deemed to have been
exceeded solely as a result of such fluctuations in currency exchange rates.

          (b) In this Agreement, where it relates to a Netherlands entity, reference to (i) a
winding-up, administration or dissolution includes a Netherlands entity being declared bankrupt
(failliet verklaard) or dissolved (ontbonden); (ii) a moratorium includes surseance van betaling
and granted a moratorium includes surseance verleend; (iii) any step or procedure taken in
connection with insolvency proceedings includes a Netherlands entity having filed a notice under
Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 60 of the
Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale Verzekeringen) in
conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990);
(iv) a trustee in bankruptcy includes a curator; (v) an administrator includes a bewindvoerder; and
(vi) an attachment includes a beslag.

          Section 1.04 Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial
nature shall be construed in accordance with GAAP, as in effect from time to time; provided
that, if the Borrower Representative notifies the Administrative Agent that the Borrowers request
an amendment to any provision hereof to eliminate the effect of any change occurring after the date
hereof in GAAP or in the application thereof on the operation of such provision (or if the
Administrative Agent notifies the Borrower Representative that the Required Lenders request an
amendment to any provision hereof for such purpose), regardless of whether any such notice is given
before or after such change in GAAP or in the application thereof, then such provision shall be
interpreted on the basis of GAAP as in effect and applied immediately before such change shall have
become effective until such notice shall have been withdrawn or such provision amended in
accordance herewith.

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ARTICLE II

The Credits

          Section 2.01 Commitments.

          (a) Immediately prior to the effectiveness of this Agreement, the outstanding balance of the
“Revolving Loans” as of the date hereof made under (and as such term is defined in) the Original
Credit Agreement was the USD Equivalent of $0.00 (the “Outstanding Original Revolving Loan
Balance”). Immediately upon giving effect to this Agreement on the date hereof, the
Outstanding Original Revolving Loan Balance automatically shall be continued as, and shall convert
into, outstanding Revolving Loans hereunder owed by each Borrower to Lenders as if such Revolving
Loans had been made by Lenders to the respective Borrower hereunder.

          (b) (A) Subject to the terms and conditions set forth herein, each Lender agrees to make
Revolving Loans to each Borrower from time to time during the Availability Period in dollars or
Euros, as requested by such Borrower, in an aggregate principal amount that will not result in (i)
the USD Equivalent of such Lender’s Revolving Exposure with respect to the Borrowers exceeding such
Lender’s Revolving Commitment, (ii) the USD Equivalent of the Aggregate Credit Exposures with
respect to the Borrowers exceeding the sum of the total Revolving Commitments (less (i) the
Availability Block and (ii) Reserves (other than Reserves which Agent elects not to deduct for such
purpose in its sole discretion)), (iii) the USD Equivalent of the total Revolving Exposures
(excluding Revolving Netherlands Exposures) exceeding the US Borrowing Base, (iv) the USD
Equivalent of the total Revolving Euro Exposures with respect to the Borrowers exceeding the Euro
Sublimit, (v) the USD Equivalent of such Lender’s Revolving Netherlands Exposure with respect to
the Netherlands Borrower exceeding such Lender’s Revolving Netherlands Sublimit, (vi) the USD
Equivalent of the total Revolving Netherlands Exposures with respect to the Netherlands Borrower
exceeding the sum of the total Revolving Netherlands Sublimit, (vii) the USD Equivalent of the
total Revolving Netherlands Exposures exceeding the Netherlands Borrowing Base or (viii) the USD
Equivalent of the total Revolving Exposures relating to the Netherlands Borrower exceeding the
Libbey Europe Sublimit, subject to the Administrative Agent’s authority, in its sole discretion, to
make Protective Advances pursuant to the terms of Section 2.04. Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow
Revolving Loans. Subject to Section 2.14, each Borrowing made in Euros shall be comprised entirely
of Eurocurrency Loans.

          (B) Not later than noon, Local Time, on the second Business Day preceding the Borrowing
Date with respect to each Borrowing (or, in the case of a CBFR Borrowing at a time when
Eurocurrency Loans made in Euros shall be outstanding, promptly on such Borrowing Date), the
Administrative Agent shall determine the Exchange Rate with respect to Euros as of such date
and give notice thereof to the relevant Borrower and the relevant Lenders. The Exchange
Rate so determined shall become effective on such Borrowing Date for the purposes of
determining availability under the Commitments with respect to such Borrowing (it being
understood that such availability shall be calculated and determined by applying such
Exchange Rate to the aggregate principal amount of Loans made in Euros which are outstanding
on such Borrowing Date).

          (c) Not later than 2:00 p.m., New York City time, on each Calculation Date (so long as any
Eurocurrency Loans made in Euros shall be outstanding), the Administrative Agent shall determine
the Exchange Rate with respect to Euros as of such Calculation Date and give notice thereof to the
relevant Borrowers and the relevant Lenders. The Exchange Rate so determined shall become
effective on the next succeeding Reset Date. If, on any Reset Date, (i) the USD Equivalent of the
total Revolving

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Euro Exposures relating to the Borrowers exceeds the Euro Sublimit, (ii) the USD Equivalent of
the total Revolving Netherlands Exposures relating to the Netherlands Borrower exceeds the sum of
the total Revolving Netherlands Sublimit, (iii) the USD Equivalent of the total Revolving Exposures
(excluding Revolving Netherlands Exposure) relating to the Borrowers exceeds the US Borrowing Base,
(iv) the USD Equivalent of the total Revolving Netherlands Exposure relating to the Netherlands
Borrower exceeds the Netherlands Borrowing Base or (v) the USD Equivalent of the total Revolving
Exposures relating to the Netherlands Borrower exceeds the Libbey Europe Sublimit, then each such
Borrower shall, within three Business Days after notice thereof from the Administrative Agent,
prepay its Revolving Loans in an aggregate USD Equivalent amount equal, when taken together with
any contemporaneous prepayment by the other Borrower, to any such excess (such calculation to be
made using the Exchange Rate that is effective on such Reset Date); provided that any such
prepayment shall be accompanied by accrued interest to the extent required by Section 2.13 but
shall be without premium or penalty of any kind (other than any payments required under Section
2.16).

          Section 2.02 Loans and Borrowings.

          (a) Each Loan (other than a Swingline Loan) shall be made as part of a Borrowing consisting of
Loans of the same Class and Type made by the Lenders ratably in accordance with their respective
Commitments of the applicable Class. Any Protective Advance and any Swingline Loan shall be made
in accordance with the procedures set forth in Section 2.04 and 2.05.

          (b) Subject to Section 2.14, each Revolving Borrowing shall be comprised entirely of CBFR
Loans or Eurocurrency Loans as the Borrower Representative may request in accordance herewith,
provided that all Eurocurrency Borrowings made on the Effective Date must be made in
accordance with Section 2.03. Each Swingline Loan to the US Borrower shall be a CBFR Loan and each
Swingline Loan to the Netherlands Borrower shall bear interest at the Netherlands Swingline Rate.
Each Lender at its option may make any Eurocurrency Loan by causing any domestic or foreign branch
or Affiliate of such Lender to make such Loan; provided that any exercise of such option
shall not affect the obligation of the applicable Borrowers to repay such Loan in accordance with
the terms of this Agreement.

          (c) At the commencement of each Interest Period for any Eurocurrency Borrowing, such Borrowing
shall be in an aggregate (USD Equivalent) amount that is an integral multiple of $500,000 and not
less than $2,000,000. At the time that each CBFR Borrowing is made, such Borrowing shall be in an
aggregate (USD Equivalent) amount that is an integral multiple of $500,000 and not less than
$1,000,000; provided that a CBFR Borrowing may be in an aggregate (USD Equivalent) amount
that is equal to the entire unused balance of the total Revolving Commitments (less (i) the
Availability Block and (ii) Reserves (other than Reserves which Agent elects not to deduct for such
purpose in its sole discretion)) or that is required to finance the reimbursement of an LC
Disbursement as contemplated by Section 2.06(e). Each Swingline Loan shall be in an amount that is
an integral multiple of $100,000 and not less than $500,000. Borrowings of more than one Type and
Class may be outstanding at the same time; provided that there shall not at any time be
more than a total of seven (7) Eurocurrency Borrowings outstanding.

          (d) Notwithstanding any other provision of this Agreement, the Borrower Representative shall
not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest
Period requested with respect thereto would end after the Maturity Date.

          Section 2.03 Requests for Borrowings. To request a Borrowing, the Borrower Representative shall notify the Administrative Agent
of such request by submitting a Borrowing Notice (delivered by hand or facsimile) signed by the
Borrower Representative (a) in the case of a Eurocurrency Borrowing, not later than noon, Local
Time, three Business Days before the date of the proposed Borrowing or (b) in the case of a CBFR
Borrowing, not later than noon, Local Time, on the date of the

36

 

proposed Borrowing; provided, that with respect to any Eurocurrency Borrowing proposed
to be made on the Effective Date, the Administrative Agent shall not later than noon, Local Time,
three Business Days prior to the Effective Date have received a Borrowing Notice and a funding
indemnity side letter by each Borrower requesting such Borrowing for the benefit of the
Administrative Agent and each Lender reasonably satisfactory to the Administrative Agent, and in
case such notice and side letter are not so received by such time, the Borrower shall be deemed to
have requested the USD Equivalent of CBFR Loans denominated in dollars in lieu of such Eurocurrency
Loans; and provided, further, that any such notice of a CBFR Revolving Borrowing to
finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e) may be given not
later than 9:00 a.m., Chicago time, on the date of the proposed Borrowing. Each such telephonic
Borrowing Notice shall be irrevocable and shall be confirmed promptly by hand delivery or facsimile
to the Administrative Agent of a written Borrowing Notice signed by the Borrower Representative.
Each such telephonic and written Borrowing Notice shall specify the following information in
compliance with Section 2.01:

          (i) the name of the applicable Borrower;

          (ii) the aggregate amount of the requested Borrowing and a breakdown of the separate wires
comprising such Borrowing;

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

          (iv) whether such Borrowing is to be made in dollars or Euros;

          (v) whether such Borrowing is to be made pursuant to the Revolving Netherlands Sublimit;

          (vi) whether such Borrowing is to be a CBFR Borrowing or a Eurocurrency Borrowing; and

          (vii) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable
thereto, which shall be a period contemplated by the definition of the term “Interest Period.”

If no election as to the Type of Borrowing is specified in such Borrowing Notice, then the
requested Borrowing shall be, in the case of a Borrowing requested to be made in dollars, a CBFR
Borrowing and, in the case of a Borrowing requested to be made in Euros, a Eurocurrency Borrowing
with an Interest Period of one month. If no Interest Period is specified with respect to any
requested Eurocurrency Revolving Borrowing, then the applicable Borrower(s) shall be deemed to have
selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing
Notice in accordance with this Section, the Administrative Agent shall advise each Lender of the
details thereof and of the amount of such Lender’s Loan to be made as part of the requested
Borrowing.

          Section 2.04 Protective Advances.

          (a) Subject to the limitations set forth below, the Administrative Agent is authorized by the
Borrowers and the Lenders, from time to time in the Administrative Agent’s sole discretion (but
shall have absolutely no obligation to), to make Loans to the Borrowers in dollars or Euros, on
behalf of all Lenders, which the Administrative Agent, in its Permitted Discretion, deems necessary
or desirable (i) to preserve or protect the Collateral, or any portion thereof, (ii) to enhance the
likelihood of, or maximize the amount of, repayment of the Loans and other Obligations, or (iii) to
pay any other amount chargeable to or required to be paid by any Borrower pursuant to the terms of
this Agreement, including payments of reimbursable expenses (including costs, fees, and expenses as
described in Section 9.03) and other sums

37

 

payable under the Loan Documents (any of such Loans are herein referred to as “Protective
Advances”); provided that, the aggregate USD Equivalent (measured at the time of each
Protective Advance) amount of Protective Advances outstanding at any time shall not at any time
exceed $10,000,000; provided further that, the USD Equivalent amount of Aggregate Credit
Exposure shall not exceed the sum of the total Revolving Commitments; provided further
that, the USD Equivalent of any Lender’s Revolving Exposure shall not exceed such Lender’s
Revolving Commitment. Protective Advances may be made even if the conditions precedent set forth
in Section 4.02 have not been satisfied. Protective Advances with respect to the US Borrower shall
be secured by liens in favor of the Administrative Agent for the benefit of itself, the Issuing
Lenders and the Lenders on and to the US Collateral and shall constitute Obligations of the US
Borrower. Protective Advances with respect to the Netherlands Borrower shall be secured by the
Liens in favor of the Administrative Agent for the benefit of itself, the Issuing Lenders and the
Lenders in and to the Collateral and shall constitute Obligations of the Netherlands Borrower
hereunder. All Protective Advances shall be, in the case of a Borrowing made in dollars, CBFR
Borrowings and, in the case of a Borrowing made in Euros, bear interest at an interest rate
reasonably determined by the Administrative Agent to compensate the applicable Lenders for such
Borrowing in Euros for the applicable period. The Administrative Agent’s authorization to make
Protective Advances may be revoked at any time by the Required Lenders. Any such revocation must
be in writing and shall become effective prospectively upon the Administrative Agent’s receipt
thereof. At any time that there is sufficient Availability with respect to the Borrower on whose
behalf a Protective Advance was made and the conditions precedent set forth in Section 4.02 have
been satisfied, the Administrative Agent may request the Revolving Lenders to make a Revolving Loan
to such Borrower (including, with respect to the Netherlands Borrower, pursuant to the Revolving
Netherlands Sublimit) to repay such Protective Advance. At any other time the Administrative Agent
may require the Lenders to fund their risk participations described in Section 2.04(b).

          (b) Upon the making of a Protective Advance by the Administrative Agent (whether before or
after the occurrence of a Default), each Lender shall be deemed, without further action by any
party hereto, to have unconditionally and irrevocably purchased from the Administrative Agent
without recourse or warranty, an undivided interest and participation in such Protective Advance in
proportion to its Applicable Percentage. From and after the date, if any, on which any Lender is
required to fund its participation in any Protective Advance purchased hereunder, the
Administrative Agent shall promptly distribute to such Lender, such Lender’s Applicable Percentage
of all payments of principal and interest and all proceeds of Collateral received by the
Administrative Agent in respect of such Protective Advance.

          Section 2.05 Swingline Loans.

          (a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make
Swingline Loans to the Borrowers, from time to time during the Availability Period, in dollars to
the US Borrower or in Euros to the Netherlands Borrower, in an aggregate principal amount at any
time outstanding that will not result in (provided that, solely with respect to the Swingline
Lender and not with respect to any Borrower, the following limits shall not be deemed to have been
exceeded if the only reason that the limits are exceeded is as a result of currency exchange rate
changes occurring after the date that the Swingline Loan was made) (i) the aggregate principal
amount of outstanding Swingline Loans exceeding the USD Equivalent of $15,000,000, (ii) the USD
Equivalent of the Aggregate Credit Exposures with respect to the Borrowers exceeding the sum of the
total Revolving Commitments (less (i) the Availability Block and (ii) Reserves (other than Reserves
which Agent elects not to deduct for such purpose in its sole discretion)), (iii) the USD
Equivalent of the total Revolving Exposures with respect to the US Borrower exceeding the US
Borrowing Base, (iv) the USD Equivalent of the total Revolving Netherlands Exposure with respect to
the Netherlands Borrower exceeding the Netherlands Borrowing Base, or (v) the USD Equivalent of the
total Revolving Euro Exposures with respect to the Borrowers

38

 

exceeding the Euro Sublimit.; provided that (x) the Netherlands Borrower shall not be
permitted to borrow more than the USD Equivalent of $7,500,000 in Swingline Loans and (y) the
Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding
Swingline Loan. Subject to Section 2.14, each Swingline Borrowing made in Euros shall be comprised
entirely of Swingline Loans bearing interest at the Netherlands Swingline Rate. Within the
foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may
borrow, prepay and reborrow Swingline Loans. To request a Swingline Loan, the Borrower
Representative shall notify the Administrative Agent of such request by telephone (confirmed by
facsimile), in the case of Swingline Loans denominated in dollars, not later than noon, Chicago
time, or in the case of Swingline Loans denominated in Euros, no later than 11:00 a.m., London
time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall
specify the requested date (which shall be a Business Day) and amount of the requested Swingline
Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice
received from the Borrower Representative. The Swingline Lender shall make each Swingline Loan
available to the Borrowers by means of a credit to the applicable Funding Account(s)
(provided, that such credit shall instead be, in the case at the time of such Borrowing
full cash dominion is in effect pursuant to Article VII of the US Security Agreement or as a
Netherlands Trigger Event, to the Collection Account or the Netherlands Collection Account, as
applicable) as early as possible on the requested date of such Swingline Loan.

          (b) The Swingline Lender may (i) on same Business Day written notice given to the
Administrative Agent not later than 11:00 a.m., Chicago time, in the case of Swingline Loans
denominated in dollars, or (ii) on three Business Day’s written notice given to the Administrative
Agent not later than 11:00 a.m., London time, in the case of Swingline Loans denominated in Euros,
require the Revolving Lenders to acquire participations in all or a portion of the Swingline Loans
outstanding. Such notice shall specify the aggregate dollar and/or Euro amount of Swingline Loans
in which Revolving Lenders will participate. Promptly upon receipt of such notice, the
Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice
such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Revolving Lender hereby
absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the
Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable Percentage
of such Swingline Loan or Loans. Each Revolving Lender acknowledges and agrees that its obligation
to acquire participations in Swingline Loans pursuant to this paragraph is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including the occurrence
and continuance of a Default or reduction or termination of the Commitments, and that each such
payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each
Revolving Lender shall comply with its obligation under this paragraph by wire transfer of
immediately available funds, in the same manner as provided in Section 2.07 with respect to Loans
made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment
obligations of the Lenders), and the Administrative Agent shall promptly pay to the Swingline
Lender the amounts so received by it from the Revolving Lenders. The Administrative Agent shall
notify the Borrower Representative of any participations in any Swingline Loan acquired pursuant to
this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the
Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender
from the US Borrower (or other party on behalf of such Borrower) in respect of a Swingline Loan
made in dollars after receipt by the Swingline Lender of the proceeds of a sale of participations
therein shall be promptly remitted to the Administrative Agent; any such amounts received by the
Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving
Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender,
as their interests may appear; provided that any such payment so remitted shall be repaid to the
Swingline Lender or to the Administrative Agent, as applicable, if and to the extent such payment
is required to be refunded to the US Borrower for any reason. The purchase of participations in a
Swingline Loan pursuant to this paragraph shall not relieve the US Borrower of any default in the
payment thereof. Any amounts received by the Swingline Lender from the Netherlands

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Borrower (or other party on behalf of such Borrower) in respect of a Swingline Loan made in
Euros after receipt by the Swingline Lender of the proceeds of a sale of participations therein
shall be promptly remitted to the Administrative Agent; any such amounts received by the
Administrative Agent shall be promptly remitted by the Administrative Agent to the Revolving
Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender,
as their interests may appear; provided that any such payment so remitted shall be repaid to the
Swingline Lender or to the Administrative Agent, as applicable, if and to the extent such payment
is required to be refunded to the Netherlands Borrower for any reason. The purchase of
participations in a Swingline Loan pursuant to this paragraph shall not relieve the Netherlands
Borrower of any default in the payment thereof. Notwithstanding the foregoing, a Lender shall not
have any obligation to acquire a participation in a Swingline Loan pursuant to this paragraph if an
Event of Default shall have occurred and be continuing at the time such Swingline Loan was made and
such Lender shall have notified the Swingline Lender in writing, at least one Business Day prior to
the time such Swingline Loan was made, that such Event of Default has occurred and is continuing
and that such Lender will not acquire participations in Swingline Loans made while such Event of
Default is continuing.

          (c) Upon the making of a Swingline Loan (whether before or after the occurrence of a Default
and regardless of whether a Settlement has been requested with respect to such Swingline Loan),
each Revolving Lender shall be deemed, without further action by any party hereto, to have
unconditionally and irrevocably purchased from the Swingline Lender without recourse or warranty,
an undivided interest and participation in such Swingline Loan in proportion to its Applicable
Percentage of the Revolving Commitment. The Swingline Lender may, at any time, require the
Revolving Lenders to fund their participations. From and after the date, if any, on which any
Revolving Lender is required to fund its participation in any Swingline Loan purchased hereunder,
the Administrative Agent shall promptly distribute to such Lender, such Lender’s Applicable
Percentage of all payments of principal and interest and all proceeds of Collateral received by the
Administrative Agent in respect of such Loan.

          (d) The Administrative Agent, on behalf of the Swingline Lender, shall request settlement (a
“Settlement”) with the Revolving Lenders on at least a weekly basis or on any date that the
Administrative Agent elects, by notifying the Revolving Lenders of such requested Settlement by
facsimile, telephone, or e-mail no later than 12:00 noon Chicago time, in the case of Swingline
Loans denominated in dollars, or 12:00 p.m., London time, in the case of Swingline Loans
denominated in Euros, on the date of such requested Settlement (the “Settlement Date”).
Each Revolving Lender (other than the Swingline Lender, in the case of the Swingline Loans) shall
transfer the amount of such Revolving Lender’s Applicable Percentage of the outstanding principal
amount of the applicable Loan with respect to which Settlement is requested to the Administrative
Agent, to such account of the Administrative Agent as the Administrative Agent may designate, not
later than 2:00 p.m., Chicago time, in the case of Swingline Loans denominated in dollars, or 2:00
p.m., London time, in the case of Swingline Loans denominated in Euros, on such Settlement Date.
Settlements may occur during the existence of a Default and whether or not the applicable
conditions precedent set forth in Section 4.02 have then been satisfied. Such amounts transferred
to the Administrative Agent shall be applied against the amounts of the Swingline Lender’s
Swingline Loans with respect to the applicable Borrower and, together with Swingline Lender’s
Applicable Percentage of such Swingline Loan, shall constitute Revolving Loans of such Revolving
Lenders, respectively. If any such amount is not transferred to the Administrative Agent by any
Revolving Lender on such Settlement Date, the Swingline Lender shall be entitled to recover such
amount on demand from such Lender together with interest thereon as specified in Section 2.07.

          Section 2.06 Letters of Credit.

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          (a) General. Subject to the terms and conditions set forth herein, the Borrower
Representative may request the issuance of Letters of Credit for the account of US Borrower (for
the benefit of US Borrower or any other US Loan Party), in a form reasonably acceptable to the
Administrative Agent and the Issuing Bank, at any time and from time to time during the
Availability Period. In the event of any inconsistency between the terms and conditions of this
Agreement and the terms and conditions of any form of letter of credit application or other
agreement submitted by the US Borrower to, or entered into by the US Borrower with, the Issuing
Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control.

          (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request
the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter
of Credit), the Borrower Representative shall hand deliver or facsimile (or transmit by electronic
communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing
Bank and the Administrative Agent (prior to noon, Chicago time, at least three Business Days prior
to the requested date of issuance, amendment, renewal or extension or such shorter period as the
Issuing Bank may agree) a notice requesting the issuance of a Letter of Credit, or identifying the
Letter of Credit to be amended, renewed or extended, and specifying the date of issuance,
amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of
Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such
Letter of Credit, the name and address of the beneficiary thereof and such other information as
shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the
Issuing Bank, US Borrower also shall submit a letter of credit application on the Issuing Bank’s
standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be
issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of
each Letter of Credit US Borrower shall be deemed to represent and warrant that), after giving
effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed
$30,000,000, (ii) the USD Equivalent of the Aggregate Credit Exposures with respect to the
Borrowers shall not exceed the sum of the total Revolving Commitments (less (i) the Availability
Block and (ii) Reserves (other than Reserves which Agent elects not to deduct for such purpose in
its sole discretion)) and (iii) the USD Equivalent of the total Revolving Exposures (excluding
Revolving Netherlands Exposures) shall not exceed the US Borrowing Base.

          (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the earlier of (i) the date one year after the date of the issuance of such Letter of
Credit and (ii) the date that is five Business Days prior to the Maturity Date; provided,
that any Letter of Credit with a one-year term may provide for the renewal thereof for additional
one-year periods (which shall in no event extend beyond the date referred to in clause (ii) above).

          (d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
Issuing Bank or the Revolving Lenders, the Issuing Bank hereby grants to each Revolving Lender, and
each Revolving Lender hereby acquires from the Issuing Bank, a participation in such Letter of
Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn
under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving
Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the
account of the Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by
the Issuing Bank and not reimbursed by the US Borrower on the date due as provided in paragraph (e)
of this Section, or of any reimbursement payment required to be refunded to the US Borrower for any
reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire
participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and

41

 

continuance of a Default or increase, reduction or termination of the Commitments, and that
each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

          (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a
Letter of Credit, the US Borrower shall reimburse such LC Disbursement by paying to the
Administrative Agent an amount equal to such LC Disbursement not later than noon, Chicago time, on
the date that such LC Disbursement is made, if the US Borrower shall have received notice of such
LC Disbursement prior to 9:00 a.m., Chicago time, on such date, or, if such notice has not been
received by the US Borrower prior to such time on such date, then not later than noon, Chicago
time, on (i) the Business Day that the US Borrower receives such notice, if such notice is received
prior to 9:00 a.m., Chicago time, on the day of receipt, or (ii) the Business Day immediately
following the day that the US Borrower receives such notice, if such notice is not received prior
to such time on the day of receipt; provided that, the US Borrower may, subject to the
conditions to borrowing set forth herein, request in accordance with Section 2.03 that such payment
be financed with a CBFR Revolving Borrowing or Swingline Loan in an equivalent amount and, to the
extent so financed, the US Borrower’s obligation to make such payment shall be discharged and
replaced by the resulting CBFR Revolving Borrowing. If the US Borrower fails to make such payment
when due, the Administrative Agent shall notify each Revolving Lender of the applicable LC
Disbursement, the payment then due from the US Borrower in respect thereof and such Lender’s
Applicable Percentage thereof. Promptly following receipt of such notice, each Revolving Lender
shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the US
Borrower, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender
(and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the
Revolving Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts
so received by it from the Revolving Lenders. Promptly following receipt by the Administrative
Agent of any payment from the US Borrower pursuant to this paragraph, the Administrative Agent
shall distribute such payment to the Issuing Bank or, to the extent that Revolving Lenders have
made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and
the Issuing Bank as their interests may appear. Any payment made by a Revolving Lender pursuant to
this paragraph to reimburse the Issuing Bank for any LC Disbursement (other than the funding of
CBFR Revolving Loans or Swingline Loan as contemplated above) shall not constitute a Loan and shall
not relieve the US Borrower of its obligation to reimburse such LC Disbursement.

          (f) Obligations Absolute. The US Borrower’s obligation to reimburse LC Disbursements
as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and
shall be performed strictly in accordance with the terms of this Agreement under any and all
circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other
document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any
respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the
Issuing Bank under a Letter of Credit against presentation of a draft or other document that does
not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of
this Section, constitute a legal or equitable discharge of, or provide a right of setoff against,
the US Borrower’s obligations hereunder. Neither the Administrative Agent, the Revolving Lenders
nor the Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility
by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment
or failure to make any payment thereunder (irrespective of any of the circumstances referred to in
the preceding sentence), or any error, omission, interruption, loss or delay in transmission or
delivery of any draft, notice or other communication under or relating to any Letter of Credit
(including any document required to make a drawing thereunder), any error in interpretation of
technical terms or any consequence arising from causes beyond the control of the Issuing Bank;
provided that the foregoing shall not be construed to excuse the Issuing Bank from
liability to the US Borrower to the extent of any direct

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

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

          (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then,
unless the US Borrower shall reimburse such LC Disbursement in full on the date such LC
Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and
including the date such LC Disbursement is made to but excluding the date that the US Borrower
reimburses such LC Disbursement, at the rate per annum then applicable to CBFR Revolving Loans;
provided that, if the US Borrower fails to reimburse such LC Disbursement when due pursuant
to paragraph (e) of this Section, then Section 2.13(d) shall apply. Interest accrued pursuant to
this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and
after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to
reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.

          (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by
written agreement among the US Borrower, the Administrative Agent and the successor Issuing Bank.
The Administrative Agent shall notify the Revolving Lenders of any such replacement of the Issuing
Bank. At the time any such replacement shall become effective, the US Borrower shall pay all
unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From
and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all
the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of
Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be
deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all
previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank
hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the
rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit
issued by it prior to such replacement, but shall not be required to issue additional Letters of
Credit.

          (j) Cash Collateralization. If any Event of Default shall occur and be continuing, on
the Business Day that the US Borrower receives notice from the Administrative Agent or the Required
Lenders (or, if the maturity of the Loans has been accelerated, Revolving Lenders with LC Exposure
representing greater than 50% of the total LC Exposure) demanding the deposit of cash collateral
pursuant to this paragraph, the US Borrower shall deposit in an account with the Administrative
Agent, in

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the name of the Administrative Agent and for the benefit of the Revolving Lenders (the “LC
Collateral Account”), an amount in cash equal to 103% of the LC Exposure as of such date plus
accrued and unpaid interest thereon; provided that the obligation to deposit such cash
collateral shall become effective immediately, and such deposit shall become immediately due and
payable, without demand or other notice of any kind, upon the occurrence of any Event of Default
with respect to any Borrower described in clause (h) or (i) of Article VII. Such deposit shall be
held by the Administrative Agent as collateral for the payment and performance of the Secured
Obligations. The Administrative Agent shall have exclusive dominion and control, including the
exclusive right of withdrawal, over such account and the US Borrower hereby grants the
Administrative Agent a security interest in the LC Collateral Account. Other than any interest
earned on the investment of such deposits, which investments shall be made at the option and sole
discretion of the Administrative Agent and at the US Borrower’s risk and expense, such deposits
shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such
account. Moneys in such account shall be applied by the Administrative Agent to reimburse the
Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so
applied, shall be held for the satisfaction of the reimbursement obligations of the US Borrower for
the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to
the consent of Revolving Lenders with LC Exposure representing greater than 50% of the total LC
Exposure), be applied to satisfy other Secured Obligations. If the US Borrower is required to
provide an amount of cash collateral hereunder as a result of the occurrence of an Event of
Default, such amount (to the extent not applied as aforesaid) shall be returned to the US Borrower
within three Business Days after all such Defaults have been cured or waived.

          (k) Existing Letters of Credit. Any “Letters of Credit” issued under, and as such
term is defined in, the Original Credit Agreement (the “Existing Letters of Credit”), that remain
outstanding on the date hereof shall be deemed to be Letters of Credit hereunder. US Borrower
hereby affirms and confirms its liability for all obligations to Issuing Bank and Revolving Lenders
arising from or in respect of the Existing Letters of Credit in consideration for the further
issuance and extensions of Letters of Credit and other due consideration given by the Issuing Bank
and Revolving Lenders, the sufficiency of which is hereby acknowledged; provided, that the
Existing Letters of Credit shall be governed by this Agreement, the Loan Documents and related
undertakings.

          Section 2.07 Funding of Borrowings.

          (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof
by wire transfer of immediately available funds by 1:00 p.m., Local Time, to the account of the
Administrative Agent most recently designated by it for such purpose by notice to the Lenders in an
amount equal to such Lender’s Applicable Percentage; provided that Swingline Loans shall be
made as provided in Section 2.05. The Administrative Agent will make such Loans available to the
applicable Borrower by promptly crediting the amounts so received, in like funds, to the Funding
Account(s); provided that (A) Loans made to finance the reimbursement of (i) an LC
Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the
Issuing Bank and (ii) a Protective Advance shall be retained by the Administrative Agent, and (B)
in the case at the time of such Borrowing full cash dominion is in effect pursuant to Article VII
of the US Security Agreement or as a result of a Netherlands Trigger Event , all Loans to the US
Borrower or the Netherlands Borrower shall be credited to the Collection Account or the Netherlands
Collection Account, respectively.

          (b) Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing that such Lender will not make available to the Administrative Agent
such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has
made such share available on such date in accordance with paragraph (a) of this Section and may, in
reliance upon such assumption, make available to the applicable Borrower a corresponding amount.
In such

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event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower requesting such Borrowing
severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount
with interest thereon, for each day from and including the date such amount is made available to
the applicable Borrower to but excluding the date of payment to the Administrative Agent, at (i) in
the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by
the Administrative Agent in accordance with banking industry rules on interbank compensation or
(ii) in the case such Borrower, with respect to a Borrowing made in dollars, the interest rate
applicable to CBFR Loans and, with respect to a Borrowing made in Euros, at an interest rate
applicable to Eurocurrency Borrowings having an Interest Period of one month. If such Lender pays
such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan
included in such Borrowing.

          Section 2.08 Interest Elections.

          (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Notice
in accordance with the terms hereof and, in the case of a Eurocurrency Borrowing, shall have an
initial Interest Period as specified in such Borrowing Notice. Thereafter, the Borrower
Representative may elect to convert such Borrowing to a different Type or to continue such
Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as
provided in this Section; provided that, subject to Section 2.14, Borrowings made in Euros
may not be converted to a different Type. The Borrower Representative may elect different options
with respect to different portions of the affected Borrowing, in which case each such portion shall
be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans
comprising each such portion shall be considered a separate Borrowing. This Section shall not
apply to Swingline Borrowings or Protective Advances, which may not be converted or continued.

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

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

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

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

          (iii) whether the resulting Borrowing is to be a CBFR Borrowing or a Eurocurrency Borrowing;
and

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

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

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

          (e) If the Borrower Representative fails to deliver a timely Interest Election Request with
respect to a Eurocurrency Borrowing prior to the end of the Interest Period applicable thereto,
then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such
Borrowing shall, in the case of a Borrowing made in dollars, be converted to a CBFR Borrowing and,
in the case of a Borrowing made in Euros, converted to a Eurocurrency Borrowing with an Interest
Period of one month. Notwithstanding any contrary provision hereof, if a Default has occurred and
is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the
Borrower Representative, then, so long as a Default is continuing (i) no outstanding Borrowing made
in dollars may be converted to or continued as a Eurocurrency Borrowing and (ii) unless repaid,
each Eurocurrency Borrowing shall, in the case of a Borrowing made in dollars, be converted to a
CBFR Borrowing and, in the case of a Borrowing made in Euros, continued with an Interest Period of
one month, in each case, at the end of the Interest Period applicable thereto.

          Section 2.09 Reduction or Termination of Commitments.

          (a) Unless previously terminated, all Commitments shall terminate on the Maturity Date.

          (b) The Borrowers shall have the right, upon not less than three Business Days’ notice to the
Administrative Agent, from time to time, to reduce the amount of the Commitments; provided
that no such reduction of Commitments shall be permitted if, after giving effect thereto and to any
prepayments of the Loans made on the effective date thereof, the Availability with respect to
either Borrower would be less than zero. Any such reduction shall be in an amount equal to
$1,000,000, or a whole multiple thereof, and shall reduce permanently the Commitments then in
effect. Each reduction of the Commitments shall be made ratably among the Lenders in accordance
with their respective Commitments; provided that with the prior consent of each of the
Administrative Agent and the Required Lenders reductions may be made to the Commitments of
Defaulting Lenders without having to reduce the Commitments of the other Lenders.

          (c) The Borrowers may at any time terminate the Commitments upon (i) the payment in full of
all outstanding Loans, together with accrued and unpaid interest thereon and on any Letters of
Credit, (ii) the cancellation and return of all outstanding Letters of Credit (or alternatively,
with respect to each such Letter of Credit, the furnishing to the Administrative Agent of a cash
deposit (or at the discretion of the Administrative Agent a back up standby letter of credit
satisfactory to the Administrative Agent) equal to 103% of the LC Exposure as of such date), (iii)
the payment in full of the accrued and unpaid fees and (iv) the payment in full of all outstanding
reimbursable expenses and other Obligations together with accrued and unpaid interest thereon.

          (d) The Borrower Representative shall notify the Administrative Agent of any election to
terminate the Commitments under paragraph (c) of this Section at least three Business Days prior to
the effective date of such termination or such shorter period as may be agreed by the
Administrative Agent, specifying such election and the effective date thereof. Promptly following
receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof.
Each notice delivered by the Borrower Representative pursuant to this Section shall be irrevocable;
provided that a notice of termination of the Commitments delivered by the Borrower
Representative may state that such notice is conditioned upon the effectiveness of other credit
facilities, in which case such notice may be revoked by

46

 

the Borrower Representative (by notice to the Administrative Agent on or prior to the
specified effective date) if such condition is not satisfied. Any termination of the Commitments
shall be permanent.

          Section 2.10 Repayment and Amortization of Loans; Evidence of Debt.

          (a) Each Borrower hereby unconditionally promises to pay to the Administrative Agent for the
account of each Lender the then unpaid principal amount of each Revolving Loan made to such
Borrower on the Maturity Date, (b) the US Borrower unconditionally promises to pay to the
Administrative Agent the then unpaid amount of each Protective Advance on the earlier of the
Maturity Date and demand by the Administrative Agent, (c) the US Borrower hereby unconditionally
promises to pay to the Swingline Lender the then unpaid principal amount of each Swingline Loan in
dollars on the earlier of the Maturity Date and the first date after such Swingline Loan is made
that is the 15th or last day of a calendar month and is at least four Business Days after such
Swingline Loan is made, (d) the Netherlands Borrower unconditionally promises to pay to the
Administrative Agent the then unpaid amount of each Protective Advance made on behalf of the
Netherlands Borrower on the earlier of the Maturity Date and demand by the Administrative Agent and
(e) the Netherlands Borrower hereby unconditionally promises to pay the Swingline Lender the then
unpaid principal amount of each Swingline Loan in Euros on the earlier of the Maturity Date and the
first date after such Swingline Loan is made that is the 15th or last day of a calendar month and
is at least four Business Days after such Swingline Loan is made.

          (b) At all times that full cash dominion is in effect pursuant to Article VII of the US
Security Agreement or as a result of a Netherlands Trigger Event, on each Business Day, the
Administrative Agent shall apply all immediately available funds credited to the Collection Account
or the Netherlands Collection, as applicable, in respect of each applicable Borrower the previous
Business Day first with respect to the U.S. Borrower (and the Netherlands Borrower with
respect to Protective Advances made on behalf of the Netherlands Borrower) to prepay any Protective
Advances that may be outstanding, second to prepay the Revolving Loans (including Swing
Line Loans) made to such Borrower and third to cash collateralize outstanding LC Exposure
in respect of such Borrower.

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

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

          (e) The entries made in the accounts maintained pursuant to paragraph (c) or (d) of this
Section shall be prima facie evidence of the existence and amounts of the
obligations recorded therein; provided that the failure of any Lender or the Administrative
Agent to maintain such accounts or any error therein shall not in any manner affect the obligation
of any Borrower to repay the Loans in accordance with the terms of this Agreement.

          (f) Any Lender may request that Loans made by it be evidenced by a promissory note. In such
event, the Borrower to which such Loan is made shall prepare, execute and deliver to such Lender a
promissory note payable to the order of such Lender (or, if requested by such Lender, to such
Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter,
the Loans

47

 

evidenced by such promissory note and interest thereon shall at all times (including after
assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form
payable to the order of the payee named therein (or, if such promissory note is a registered note,
to such payee and its registered assigns) except to the extent that such Lender returns such
promissory note or notes for cancellation and requests that such Loans be evidenced as set forth in
Section 2.10(c) and (d).

          Section 2.11 Prepayment of Loans.

          (a) Each Borrower shall have the right at any time and from time to time to prepay any
Borrowing in whole or in part, subject to prior notice in accordance with paragraph (e) of this
Section.

          (b) Notwithstanding Section 2.10(b), and without limitation thereof, except to the extent
resulting from changes of the Exchange Rate for Euros after the immediately preceding Reset Date
(provided in that case the Borrowers shall be required to make the following payments on the next
Reset Date), in the event and on such occasion that (i) the USD Equivalent of the Aggregate Credit
Exposure with respect to the Borrowers exceeds the sum of the total Revolving Commitments (less (i)
the Availability Block and (ii) Reserves (other than Reserves which Agent elects not to deduct for
such purpose in its sole discretion)), (ii) the USD Equivalent of the Revolving Exposures
(excluding Revolving Netherlands Exposure) exceeds the US Borrowing Base, (iii) the USD Equivalent
of the total Revolving Euro Exposures with respect to the Borrowers exceeds the Euro Sublimit, (iv)
the USD Equivalent of the total Revolving Netherlands Exposure with respect to the Netherlands
Borrower exceeds the sum of the total Revolving Netherlands Sublimit, (v) the USD Equivalent of the
total Revolving Netherlands Exposure relating to the Netherlands Borrower exceeds the Netherlands
Borrowing Base or (vi) the USD Equivalent of the total Revolving Exposures relating to the
Netherlands Borrower exceeds the Libbey Europe Sublimit then each such Borrower shall prepay its
Revolving Loans, LC Exposure and/or Swingline Loans in an aggregate USD Equivalent amount equal,
when taken together with any contemporaneous prepayment by the other Borrower, to such excess.

          (c) In the event and on each occasion that any Net Proceeds are received by or on behalf of
any Loan Party in respect of any Prepayment Event, the Borrowers shall, immediately after such Net
Proceeds are received by any Loan Party, prepay the Obligations as set forth in Section 2.11(d)
below in an aggregate amount equal to 100% of such Net Proceeds; provided that any Net
Proceeds received in respect of a Prepayment Event arising with respect to assets of the
Netherlands Borrower or any of its Subsidiaries organized under the laws of the Netherlands shall
only be applied to the mandatory prepayment of the Netherlands Loans.

          (d) All such amounts pursuant to Section 2.11(c) shall be applied, first to prepay any
Protective Advances with respect to the applicable Borrower that may be outstanding, pro rata, and
second to prepay the Revolving Loans (including Swing Line Loans) without any reduction in
Revolving Commitments.

          (e) The Borrower Representative shall notify the Administrative Agent (and, in the case of
prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by facsimile) of any
prepayment hereunder other than any prepayment pursuant to Section 2.10(b) or 2.11(b) (i) in the
case of prepayment of a Eurocurrency Borrowing, not later than noon, Local Time, three Business
Days before the date of prepayment, (ii) in the case of prepayment of a CBFR Borrowing, not later
than noon, Local Time, one Business Day before the date of the prepayment or (iii) in the case of
prepayment of a Swingline Loan, not later than noon, Local Time, on the date of prepayment. Each
such notice shall be irrevocable and shall specify the prepayment date and the principal amount of
each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment
is given in connection with a conditional notice of termination of the Commitments as contemplated
by Section 2.09, then such notice of

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prepayment may be revoked if such notice of termination is revoked in accordance with Section
2.09. Promptly following receipt of any such notice relating to a Borrowing, the Administrative
Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing
shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same
Type as provided in Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the
Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to
the extent required by Section 2.13.

          Section 2.12 Fees.

          (a) The US Borrower agrees to pay to the Administrative Agent for the account of each Lender a
commitment fee, which shall accrue at the Applicable Rate on the average daily amount of such
Lender’s Applicable Percentage of the Available Commitment during the period from and including the
Effective Date to but excluding the date on which the Lenders’ Commitments terminate. Accrued
commitment fees shall be payable in arrears on the first day of each April, July, October and
January and on the date on which the Commitments terminate, commencing on the first such date to
occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360
days and shall be payable for the actual number of days elapsed.

          (b) The US Borrower agrees to pay (i) to the Administrative Agent for the account of each
Revolving Lender a participation fee with respect to its participations in Letters of Credit, which
shall accrue at the same Applicable Rate used to determine the interest rate applicable to
Eurocurrency Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding
any portion thereof attributable to unreimbursed LC Disbursements) during the period from and
including the Effective Date to but excluding the later of the date on which such Lender’s
Revolving Commitment terminates and the date on which such Revolving Lender ceases to have any LC
Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate of 0.125% per
annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to
unreimbursed LC Disbursements) during the period from and including the Effective Date to but
excluding the later of the date of termination of the Revolving Commitments and the date on which
there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees with respect to the
issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings
thereunder. Participation fees and fronting fees accrued through and including the last day of
each calendar month shall be payable on the third Business Day following such last day, commencing
on the first such date to occur after the Effective Date; provided that all such fees shall
be payable on the date on which the Commitments terminate and any such fees accruing after the date
on which the Commitments terminate shall be payable on demand. Any other fees payable to the
Issuing Bank pursuant to this paragraph shall be payable within 10 Business Days after written
demand. All participation fees and fronting fees shall be computed on the basis of a year of 360
days and shall be payable for the actual number of days elapsed.

          (c) The Borrowers jointly and severally agree to pay to the Administrative Agent, for its own
account, fees payable in the amounts and at the times separately agreed upon between the Borrowers
and the Administrative Agent.

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

          Section 2.13 Interest.

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          (a) The Loans comprising each CBFR Borrowing (including each Swingline Loan) shall bear
interest at the CB Floating Rate plus the Applicable Rate.

          (b) The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO
Rate for the Interest Period in effect for such borrowing plus the Applicable Rate.

          (c) Each Protective Advance shall bear interest at the CB Floating Rate plus the Applicable
Rate for Revolving Loans plus 2%; provided that any Protective Advance made in Euros shall
bear interest at an interest rate reasonably determined by the Administrative Agent to compensate
the applicable Lenders for such Borrowing in Euros for the applicable period plus 2%.

          (d) Notwithstanding the foregoing, during the occurrence and continuance of (A) an Event of
Default, upon notice by the Required Lenders or Administrative Agent to the Borrower Representative
(which notice may be revoked at the option of the Required Lenders notwithstanding any provision of
Section 9.02 requiring the consent of “each Lender affected thereby” for reductions in interest
rates) or (B) a Default of the type described in Section 7(a), (h) or (i), (X) all Loans shall bear
interest at 2% plus the rate otherwise applicable to such Loans as provided in the preceding
paragraphs of this Section and (Y) any participation fee payable pursuant to Section 2.12 with
respect to participations in Letters of Credit shall accrue at 2% plus the Applicable Rate used to
determine the interest rate applicable to Eurocurrency Revolving Loans as provided hereunder.
Notwithstanding the foregoing, if any interest on any Loan or any fee or other amount (other than
in respect of principal of the Loans or any participation fee payable pursuant to Section 2.12 with
respect to participations in Letters of Credit) payable by the Borrowers hereunder is not paid when
due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear
interest, after as well as before judgment, at a rate per annum equal to 2% plus the rate
applicable to CBFR Loans as provided in paragraph (a) of this Section.

          (e) Accrued interest on each Loan (for CBFR Loans, accrued through the last day of the prior
calendar month) shall be payable in arrears on each Interest Payment Date for such Loan and upon
termination of the Commitments; provided that (i) interest accrued pursuant to the proviso
to paragraph (c) or paragraph (d) of this Section, and interest accrued with respect to Loans to
the Netherlands Borrower which do not bear interest at a rate determined by reference to the
Adjusted LIBO Rate, shall be payable on demand, (ii) in the event of any repayment or prepayment of
any Loan (other than a prepayment of a CBFR Revolving Loan prior to the end of the Availability
Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of
such repayment or prepayment and (iii) in the event of any conversion of any Eurocurrency Loan
prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be
payable on the effective date of such conversion.

          (f) All interest hereunder shall be computed on the basis of a year of 360 days, except that
interest computed by reference to the CB Floating Rate at times when the CB Floating Rate is based
on the Prime Rate or by reference to an interest rate reasonably determined by the Administrative
Agent shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in
each case shall be payable for the actual number of days elapsed. The applicable CB Floating Rate,
Adjusted LIBO Rate, LIBO Rate or any other interest rate applicable in accordance with the terms
hereof shall be determined by the Administrative Agent in accordance with the terms hereof, and
such determination shall be conclusive absent manifest error.

          (g) The parties agree that any “Interest Periods” (as such term is defined under the Original
Credit Agreement) in existence as of the date hereof shall be deemed to be continuing Interest
Periods under this Agreement.

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

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

          (b) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO
Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and
fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or
its Loan) included in such Borrowing for such Interest Period;

then the Administrative Agent shall give notice thereof to the Borrower Representative and the
Lenders by telephone or facsimile as promptly as practicable thereafter and, until the
Administrative Agent notifies the Borrower Representative and the Lenders that the circumstances
giving rise to such notice no longer exist, (i) any Interest Election Request that requests the
conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a
Eurocurrency Borrowing shall be ineffective, (ii) if any Borrowing Notice requests a Eurocurrency
Borrowing denominated in dollars, such Borrowing shall be made as a CBFR Borrowing and (iii) if any
Borrowing Notice requests a Eurocurrency Borrowing denominated in Euros, such Borrowing shall be
made as a Borrowing bearing interest at an interest rate reasonably determined by the
Administrative Agent to compensate the applicable Lenders for such Borrowing in Euros for the
applicable period.

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

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

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

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

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

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minimum additional amount or amounts as will compensate such Lender or the Issuing Bank or
such Lender’s or the Issuing Bank’s holding company for any such reduction suffered.

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

          (d) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation
pursuant to this Section shall not constitute a waiver of such Lender’s or the Issuing Bank’s right
to demand such compensation; provided that such Borrower shall not be required to
compensate a Lender or the Issuing Bank pursuant to this Section for any increased costs or
reductions incurred more than 270 days prior to the date that such Lender or the Issuing Bank, as
the case may be, notifies the Borrower Representative of the Change in Law giving rise to such
increased costs or reductions and of such Lender’s or the Issuing Bank’s intention to claim
compensation therefor; provided further that, if the Change in Law giving rise to
such increased costs or reductions is retroactive, then the 270-day period referred to above shall
be extended to include the period of retroactive effect thereof.

          Section 2.16 Break Funding Payments. In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the
last day of an Interest Period applicable thereto (including as a result of an Event of Default),
(b) the conversion of any Eurocurrency Loan other than on the last day of the Interest Period
applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurocurrency Loan on
the date specified in any notice delivered pursuant hereto (regardless of whether such notice may
be revoked under Section 2.09(c) and is revoked in accordance therewith), or (d) the assignment of
any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a
result of a request by the Borrower Representative pursuant to Section 2.19, then, in any such
event, such Borrower shall compensate each affected Lender for the loss, cost and expense actually
incurred by such Lender and attributable to such event. In the case of a Eurocurrency Loan, such
loss, cost or expense to any Lender shall not exceed an amount determined by such Lender to be the
excess, if any, of (i) the amount of interest which would have accrued on the principal amount of
such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to
such Loan, for the period from the date of such event to the last day of the then current Interest
Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that
would have been the Interest Period for such Loan), over (ii) the amount of interest which would
accrue on such principal amount for such period at the interest rate which such Lender would bid
were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and
period from other banks in the Eurocurrency market. A certificate of any Lender setting forth any
amount or amounts that such Lender is entitled to receive pursuant to this Section shall be
delivered to the Borrower Representative and shall be conclusive absent manifest error. Such
Borrower shall pay such Lender the amount shown as due on any such certificate within 10 Business
Days after receipt thereof.

          Section 2.17 Taxes.

          (a) Any and all payments by or on account of any obligation of the Borrowers hereunder shall
be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes;
provided that if a Borrower shall be required to deduct any Indemnified Taxes or Other
Taxes from such payments, then (i) the sum payable shall be increased as necessary so that after
making all required deductions (including deductions applicable to additional sums payable under
this Section) the Administrative Agent, Lender or Issuing Bank (as the case may be) receives an
amount equal to the sum

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it would have received had no such deductions been made, (ii) such Borrower shall make such
deductions and (iii) such Borrower shall pay the full amount deducted to the relevant Governmental
Authority in accordance with applicable law.

          (b) The Borrowers shall pay any Other Taxes applicable to such Borrower to the relevant
Governmental Authority in accordance with applicable law.

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

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

          (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which a Borrower to which it makes a loan is organized or a
resident for tax purposes, or any treaty to which such jurisdiction is a party, with respect to
payments under this Agreement shall deliver to the Borrower Representative (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law or reasonably requested by
the Borrower Representative, such properly completed and executed documentation prescribed by
applicable law or reasonably requested by the Borrower Representative as will permit such payments
to be made without withholding or at a reduced rate of withholding.

          (f) If the Administrative Agent or a Lender determines, in its sole discretion, that it has
received a refund of any Taxes or Other Taxes as to which it has been indemnified by a Borrower or
with respect to which such Borrower has paid additional amounts pursuant to this Section 2.17, it
shall pay over such refund to such Borrower (but only to the extent of indemnity payments made, or
additional amounts paid, by such Borrower under this Section 2.17 with respect to the Taxes or
Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative
Agent or such Lender and without interest (other than any interest paid by the relevant
Governmental Authority with respect to such refund); provided, that such Borrower, upon the request
of the Administrative Agent or such Lender, agrees to repay the amount paid over to such Borrower
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to
the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is
required to repay such refund to such Governmental Authority. This Section shall not be construed
to require the Administrative Agent or any Lender to make available its Tax returns (or any other
information relating to its Taxes which it deems confidential) to the Borrowers or any other
Person.

          (g) Each Lender that makes a Loan to the US Borrower that is not a Foreign Lender with respect
to the US Borrower shall deliver to the Borrower Representative (with a copy to the

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Administrative Agent), at the time or times prescribed by applicable law or reasonably
requested by the Borrower Representative, a properly completed and executed IRS Form W-9 (or
applicable successor form) certifying that such Lender is not subject to backup withholding.

          Section 2.18 Payments Generally; Allocation of Proceeds; Sharing of Set-offs.

          (a) Each Borrower shall make each payment required to be made by it hereunder (whether of
principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section
2.15, 2.16 or 2.17, or otherwise) prior to 2:00 p.m., Chicago time, in the case of Loans
denominated in dollars, or 2:00 p.m., London time, in the case of Loans denominated in Euros, on
the date when due, in immediately available funds, without set-off or counterclaim. Any amounts
received after such time on any date may, in the discretion of the Administrative Agent, be deemed
to have been received on the next succeeding Business Day for purposes of calculating interest
thereon. All such payments shall be made to the Administrative Agent at its offices at 10 South
Dearborn Street, 22nd Floor, Chicago, Illinois, except payments to be made directly to the Issuing
Bank or Swingline Lender as expressly provided herein and except that payments pursuant to Sections
2.15, 2.16, 2.17 and 9.03 shall be made directly to the Persons entitled thereto. The
Administrative Agent shall distribute any such payments received by it for the account of any other
Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder
shall be due on a day that is not a Business Day, the date for payment shall be extended to the
next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon
shall be payable for the period of such extension. All payments hereunder shall be made in dollars
or Euros, as applicable. At all times that full cash dominion is in effect pursuant to Article VII
of the US Security Agreement or as a result of a Netherlands Trigger Event, solely for purposes of
determining the amount of Loans available for borrowing purposes, checks (in addition to
immediately available funds applied pursuant to Section 2.10(b)) from collections of items of
payment and proceeds of any Collateral pledged to secure any Borrower’s Obligations shall be
applied in whole or in part against such Borrower’s Obligations, on the Business Day after receipt,
subject to actual collection.

          (b) Subject to Section 9.20 hereof, any proceeds of Collateral received by the Administrative
Agent on behalf of any Borrower or any Loan Party (shall, if received in its capacity as a
depositing bank be applied as set forth in the applicable Deposit Account Control Agreement) and
any other such proceeds (i) not constituting either (A) a specific payment of principal, interest,
fees or other sum payable under the Loan Documents (which shall be applied as specified by the
Borrower making such payment), (B) a mandatory prepayment (which shall be applied in accordance
with Section 2.11) or (C) amounts to be applied from the Collection Account or the Netherlands
Collection Account when full cash dominion is in effect (which shall be applied in accordance with
Section 2.10(b)) or (ii) after an Event of Default has occurred and is continuing and the
Administrative Agent so elects or the Required Lenders so direct, such funds shall be applied
ratably first, to pay any fees, indemnities, or expense reimbursements then due including
amounts then due to the Administrative Agent and the Issuing Bank from, or on behalf of, such
Borrower (other than in connection with Banking Services or Swap Obligations), second, to
pay any fees or expense reimbursements then due to the Lenders from, or on behalf of, such Borrower
(other than in connection with Banking Services or Swap Obligations), third, to pay
interest due in respect of the Protective Advances made to, or on behalf of, such Borrower,
fourth, to pay the principal of such Protective Advances, fifth, to pay interest
then due and payable on the Loans made to, or on behalf of, such Borrower (other than the
Protective Advances) ratably, sixth, to prepay principal on the Loans made to, or on behalf
of, such Borrower (other than the Protective Advances and unreimbursed LC Disbursements in respect
of Letters of Credit requested by such Borrower), seventh, to pay an amount to the
Administrative Agent equal to one hundred three percent (103%) of the aggregate undrawn face amount
of all outstanding Letters of Credit requested by, or on behalf of, such Borrower and the aggregate
amount of any unpaid LC Disbursements in respect of Letters of Credit requested by, or

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on behalf of, such Borrower, to be held as cash collateral for such Obligations,
eighth, to payment of any amounts owing with respect to Banking Services Obligations and
Swap Obligations constituting Secured Obligations, and ninth, to the payment of any other
Secured Obligation due to the Administrative Agent or any Lender. Notwithstanding anything to the
contrary contained in this Agreement, unless so directed by the Borrower Representative and except
as set forth in Section 2.10 and Section 2.11, or unless an Event of Default is in existence,
neither the Administrative Agent nor any Lender shall apply any payment which it receives to any
Eurocurrency Loan of a Class made to any Borrower, except (a) on the expiration date of the
Interest Period applicable to any such Eurocurrency Loan or (b) in the event, and only to the
extent, that there are no outstanding CBFR Loans of the same Class and, in any such event, such
Borrower shall pay the break funding payment required in accordance with Section 2.16. The
Administrative Agent and the Lenders shall have the continuing and exclusive right to apply and
reverse and reapply any and all such proceeds and payments to any portion of the Secured
Obligations of such Borrower.

          (c) At the election of the Administrative Agent, all payments of principal, interest, LC
Disbursements, fees, premiums, reimbursable expenses (including, without limitation, all
reimbursement for fees and expenses pursuant to Section 9.03), and other sums payable under the
Loan Documents by any Borrower, may be paid from the proceeds of Borrowings made hereunder by such
Borrower whether made following a request by the Borrower Representative pursuant to Section 2.03
or a deemed request as provided in this Section or may be deducted from any deposit account of such
Borrower maintained with the Administrative Agent. Each Borrower hereby irrevocably authorizes (i)
the Administrative Agent to make a Borrowing by such Borrower for the purpose of paying each
payment of principal, interest and fees as it becomes due hereunder or any other amount due under
the Loan Documents (after the expiration of any grace or cure periods with respect to such other
amounts) by such Borrower and agrees that all such amounts charged shall constitute Loans
(including Swingline Loans, but such a Borrowing may only constitute a Protective Advance if it is
to reimburse costs, fees and expenses as described in Section 9.03) and that all such Borrowings
shall be deemed to have been requested by such Borrower pursuant to Sections 2.03, 2.04 or 2.05, as
applicable and (ii) the Administrative Agent to charge any deposit account of such Borrower
maintained with the Administrative Agent for each payment of principal, interest and fees as it
becomes due hereunder or any other amount due under the Loan Documents by such Borrower.

          (d) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Loans or participations in
LC Disbursements resulting in such Lender receiving payment of a greater proportion of the
aggregate amount of its Loans and participations in LC Disbursements and accrued interest thereon
than the proportion received by any other Lender, then the Lender receiving such greater proportion
shall purchase (for cash at face value) participations in the Loans and participations in LC
Disbursements of other Lenders to the extent necessary so that the benefit of all such payments
shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and
accrued interest on their respective Loans and participations in LC Disbursements; provided
that (i) if any such participations are purchased and all or any portion of the payment giving rise
thereto is recovered, such participations shall be rescinded and the purchase price restored to the
extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be
construed to apply to any payment made by any Borrower pursuant to and in accordance with the
express terms of this Agreement or any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Loans or participations in LC Disbursements
to any assignee or participant, other than to such Borrower or any Subsidiary or Affiliate thereof
(as to which the provisions of this paragraph shall apply). Subject to Section 9.20 hereof, each
Borrower consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements
may exercise against such Borrower rights of set-off and counterclaim with respect to such

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participation as fully as if such Lender were a direct creditor of such Borrower in the amount
of such participation.

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

          (f) If any Lender shall fail to make any payment required to be made by it hereunder, then the
Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), (i)
apply any amounts thereafter received by the Administrative Agent for the account of such Lender to
satisfy such Lender’s obligations hereunder until all such unsatisfied obligations are fully paid
and/or (ii) hold any such amounts in a segregated account as cash collateral for, and apply any
such amounts to, any future funding obligations of such Lender; provided that as between
the Loan Parties, the Administrative Agent and such Lender, such amounts received by the
Administrative Agent and paid by the Loan Parties for the account of such Lender shall be
considered applied to the Obligations intended to be paid by the Loan Parties.

          Section 2.19 Mitigation Obligations; Replacement of Lenders.

          (a) If any Lender requests compensation under Section 2.15, or if any Borrower is required to
pay any additional amount to any Lender or any Governmental Authority for the account of any Lender
pursuant to Section 2.17, then:

          (i) such Lender shall use reasonable efforts to designate a different lending office for
funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another
of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or
assignment (x) would eliminate or reduce amounts payable pursuant to Section 2.15 or 2.17, as the
case may be, in the future and (y) would not subject such Lender to any unreimbursed cost or
expense and would not otherwise be disadvantageous to such Lender (and such Borrower hereby agree
to pay all reasonable costs and expenses incurred by any Lender in connection with any such
designation or assignment);

          (ii) such Borrower may, at its sole expense and effort, require such Lender or any Defaulting
Lender (herein, a “Departing Lender”), upon notice to the Departing Lender and the
Administrative Agent, to assign and delegate, without recourse (in accordance with and subject to
the restrictions contained in Section 9.04), all its interests, rights and obligations under this
Agreement to an assignee that shall assume such obligations (which assignee may be another Lender,
if a Lender accepts such assignment); provided that (x) such Borrower shall have received
the prior written consent of the Administrative Agent (and if a Revolving Commitment is being
assigned, the Issuing Bank), which consent shall not unreasonably be withheld, (y) the Departing
Lender shall have received payment of an amount equal to the outstanding principal of its Loans and
participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and
all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding
principal and accrued interest and fees) or such

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Borrower (in the case of all other amounts) and (z) in the case of any such assignment
resulting from a claim for compensation under Section 2.15 or payments required to be made pursuant
to Section 2.17, such assignment will result in a reduction in such compensation or payments. A
Departing Lender shall not be required to make any such assignment and delegation if, prior
thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling a
Borrower to require such assignment and delegation cease to apply.

          (b) If any Lender (such Lender, a “Non-Consenting Lender”) has failed to consent to a
proposed amendment or waiver which pursuant to the terms of Section 9.02 requires the consent of
all Lenders, Supermajority Lenders or of all Lenders directly affected thereby and with respect to
which the Required Lenders shall have granted their consent, then the US Borrower shall be
permitted to replace such Non-Consenting Lender (unless such Non-Consenting Lender grants such
consent); provided that (i) such replacement does not conflict with any Requirement of Law,
(ii) the replacement financial institution shall purchase, at par, all Loans and other amounts
owing to such replaced Lender on or prior to the date of replacement, (iii) the Borrower shall be
liable to such replaced Lender under Section 2.16 if any Eurocurrency Loan owing to such replaced
Lender shall be purchased other than on the last day of the Interest Period relating thereto, (iv)
the replacement financial institution shall be reasonably satisfactory to the Administrative Agent,
(v) the replaced Lender shall be obligated to make such replacement in accordance with the
provisions of Section 9.04 (provided that the Borrower shall be obligated to pay the registration
and processing fee referred to therein), and (vi) any such replacement shall not be deemed to be a
waiver of any rights that the US Borrower, the Administrative Agent or any other Lender shall have
against the replaced Lender.

          Section 2.20 Defaulting Lenders.

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

          (a) fees shall cease to accrue on the unfunded portion of the Revolving Commitment of such
Defaulting Lender pursuant to Section 2.12(a);

          (b) the Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be
included in determining whether all Lenders or the Required Lenders have taken or may take any
action hereunder (including any consent to any amendment or waiver pursuant to Section 9.02),
provided that any waiver, amendment or modification requiring the consent of all Lenders or each
affected Lender which affects such Defaulting Lender differently than other affected Lenders shall
require the consent of such Defaulting Lender;

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

          (i) all or any part of such Swingline Exposure and LC Exposure shall be reallocated among the
non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the
extent (x) the sum of all non-Defaulting Lenders’ Revolving Credit Exposures plus such Defaulting
Lender’s Swingline Exposure and LC Exposure does not exceed the total of all non-Defaulting
Lenders’ Revolving Commitments, (y) the conditions set forth in Section 4.02 are satisfied at such
time and (z) the other loan limits set forth in this Agreement are satisfied; and

          (ii) if the reallocation described in clause (i) above cannot, or can only partially, be
effected, the Borrowers shall within one Business Day following notice by the Administrative Agent
(x)

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first, prepay such Swingline Exposure and (y) second, cash collateralize such Defaulting
Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above)
in accordance with the procedures set forth in Section 2.06(j) for so long as such LC Exposure is
outstanding;

          (iii) if the Borrowers cash collateralize any portion of such Defaulting Lender’s LC Exposure
pursuant to Section 2.20(c), the Borrowers shall not be required to pay any fees to such Defaulting
Lender pursuant to Section 2.12(b) with respect to such Defaulting Lender’s LC Exposure during the
period such Defaulting Lender’s LC Exposure is cash collateralized;

          (iv) if the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to Section
2.20(c), then the fees payable to the Lenders pursuant to Section 2.12(a) and Section 2.12(b) shall
be adjusted in accordance with such non-Defaulting Lenders’ Applicable Percentages; or

          (v) if any Defaulting Lender’s LC Exposure is neither cash collateralized nor reallocated
pursuant to Section 2.20(c), then, without prejudice to any rights or remedies of the Issuing Bank
or any Lender hereunder, all facility fees that otherwise would have been payable to such
Defaulting Lender (solely with respect to the portion of such Defaulting Lender’s Commitment that
was utilized by such LC Exposure) and letter of credit fees payable under Section 2.12(b) with
respect to such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until such LC
Exposure is cash collateralized and/or reallocated;

          (d) the Swingline Lender shall not be required to fund any Swingline Loan and the Issuing Bank
shall not be required to issue, amend or increase any Letter of Credit, unless it is satisfied that
the related exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or
cash collateral will be provided by the Borrowers in accordance with Section 2.20(c), and
participating interests in any such newly issued or increased Letter of Credit or newly made
Swingline Loan shall be allocated among non-Defaulting Lenders in a manner consistent with Section
2.20(c)(i) (and Defaulting Lenders shall not participate therein); and

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

          Section 2.21 Returned Payments

          . If after receipt of any payment which is applied to the payment of all or any part of the
Obligations of any Borrower, the Administrative Agent or any Lender is for any reason compelled to
surrender such payment or proceeds to any Person because such payment or application of proceeds is
invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference,
impermissible setoff, or a diversion of trust funds, or for any other reason, then the Obligations
or part thereof intended to be satisfied shall be revived and continued and this Agreement shall
continue in full force as if such payment or proceeds had not been received by the Administrative
Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective
notwithstanding any contrary action which may have been taken by the Administrative Agent or any
Lender in reliance upon such payment or application of proceeds. The provisions of this Section
2.21 shall survive the termination of this Agreement.

          Section 2.22 Inter-Lender Assignments.

          Each Existing Lender hereby sells and assigns on the Effective Date to each Lender, without
recourse, representation or warranty (except as set

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forth below), and each such Lender hereby purchases and assumes on the Effective Date from each
Existing Lender a percentage interest in the Commitments and Revolving Netherlands Sublimit and the
Loans and other Obligations hereunder as may be required to reflect the allocation of Commitments
and Revolving Netherlands Sublimit as set forth on the Commitment Schedule. The Lenders agree to
make such inter-Lender wire transfers as may be required to give effect to the foregoing
assignments and assumptions and, as a result of such assignments and assumptions, each Existing
Lender shall be absolutely released from any obligations, covenants or agreements with respect to
the Commitments, Revolving Netherlands Sublimit and Loans so assigned. With respect to such
Commitments, Revolving Netherlands Sublimit and Loans so assigned, each Existing Lender makes no
representation or warranty whatsoever, except that it represents and warrants that it is the legal
and beneficial owner of the same, free and clear of any adverse claim.

ARTICLE III

Representations and Warranties

          Each Loan Party represents and warrants to the Lenders that after giving effect to the
transactions on the Effective Date:

          Section 3.01 Organization; Powers. Each of the Loan Parties and each of its Subsidiaries (a) is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its organization (to the extent
the concept of “good standing” is recognized thereunder), (b) except where the failure to have such
power and authority could not, individually or in the aggregate, reasonably be expected to result
in a Material Adverse Effect, has all requisite power and authority to carry on its business as now
conducted and is qualified to do business in, and (c) is in good standing in, every jurisdiction
where such qualification is required except where the failure to be in good standing could not
reasonably be expected to result in a Material Adverse Effect.

          Section 3.02 Authorization; Enforceability. The Transactions are within each Loan Party’s corporate or organizational powers and have
been duly authorized by all necessary organizational and, if required, stockholder (or equity
holder, as applicable) action. The Loan Documents to which each Loan Party is a party have been
duly executed and delivered by such Loan Party and constitute a legal, valid and binding obligation
of such Loan Party, enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity
or at law.

          Section 3.03 Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing
with, or any other action by, any Governmental Authority, except such as have been obtained or made
and are in full force and effect and except for filings necessary to perfect Liens created pursuant
to the Loan Documents, (b) will not violate any Requirement of Law applicable to any Loan Party or
any of its Subsidiaries, (c) will not violate or result in a default under any indenture, agreement
or other instrument binding upon any Loan Party or any of its Subsidiaries or its assets, or give
rise to a right thereunder to require any payment to be made by any Loan Party or any of its
Subsidiaries, and (d) will not result in the creation or imposition of any Lien on any asset of any
Loan Party or any of its Subsidiaries, except Liens created pursuant to the Loan Documents and
Liens permitted hereunder securing the Senior Note Obligations permitted hereunder except, in each
case, as could not reasonably be expected, individually or in the aggregate, to result in a
Material Adverse Effect.

          Section 3.04 Financial Condition; No Material Adverse Change.

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          (a) Holdings has heretofore furnished to the Lenders its consolidated balance sheet and
statements of income, stockholders equity and cash flows (i) as of and for the fiscal year ended
December 31, 2008, reported on by Ernst & Young, independent public accountants, and (ii) as of and
for the fiscal month and the portion of the fiscal year ended November 30, 2009, certified by its
chief financial officer. Such financial statements present fairly, in all material respects, the
financial position and results of operations and cash flows of Holdings and its consolidated
Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end
audit adjustments and the absence of footnotes in the case of the statements referred to in clause
(ii) above.

          (b) No event, change or condition has occurred that has had, or could reasonably be expected
to have, a Material Adverse Effect, since September 30, 2009.

          Section 3.05 Properties.

          (a) As of the date of this Agreement, Schedule 3.05 (i) sets forth the address of each parcel
of real property that is owned or leased by any Loan Party and (ii) identifies any such parcel of
owned real property with respect to which the Loan Documents will not, as of the Effective Date,
create legal and valid Liens on such parcel of real property and all of the buildings,
improvements, structures and fixtures located on such parcel of real property in accordance with
the terms and conditions of the Loan Documents (each, a “Non-Mortgaged Property”). Except
as could not reasonably be expected to have a Material Adverse Effect, each of such leases and
subleases is valid and enforceable in accordance with its terms and is in full force and effect,
and, to the knowledge of the applicable Loan Party, no default by any party to any such lease or
sublease exists. Each of the Loan Parties and its Subsidiaries has good and marketable title to,
or valid leasehold interests in, all its real and personal property, free of all Liens other than
those permitted by Section 6.02.

          (b) Except as could not reasonably be expected, individually or in the aggregate, to result in
a Material Adverse Effect, each Loan Party and its Subsidiaries owns, or is licensed to use, all
Intellectual Property used in its business as currently conducted, a correct and complete list of
which, as of the date of this Agreement, is set forth on Schedule 3.05, and the use thereof by the
Loan Parties and its Subsidiaries does not infringe in any material respect upon the rights of any
other Person, and the Loan Parties’ rights thereto are not subject to any licensing agreement or
similar arrangement.

          Section 3.06 Litigation and Environmental Matters.

          (a) There are no actions, suits or proceedings by or before any arbitrator or Governmental
Authority pending against or, to the knowledge of any Loan Party, threatened against or affecting
the Loan Parties or any of their Subsidiaries (i) as to which there is a reasonable possibility of
an adverse determination and that, if adversely determined, could reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed
Matters) or (ii) that directly involve this Agreement or the Transactions.

          (b) Except for the Disclosed Matters and except as could not reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect, (i) no Loan Party nor any
of its Subsidiaries has received notice of any claim with respect to any Environmental Liability or
knows of any basis for any Environmental Liability and (ii) no Loan Party nor any of its
Subsidiaries (1) has failed to comply with any Environmental Law or to obtain, maintain or comply
with any permit, license or other approval required under any Environmental Law or (2) has become
subject to any Environmental Liability.

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          (c) Since the date of this Agreement, there has been no change in the status of the Disclosed
Matters that, individually or in the aggregate, has resulted in, or materially increased the
likelihood of, a Material Adverse Effect.

          Section 3.07 Compliance with Laws and Agreements.

          (a) Each Loan Party and its Subsidiaries is in compliance with all Requirements of Law
applicable to it or its property and all indentures, agreements and other instruments binding upon
it or its property, except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is
continuing.

          (b) If the Netherlands Borrower or any Netherlands Loan Guarantor is a credit institution
(kredietinstelling) under the Netherlands Financial Supervision Act, such party is in compliance
with the applicable provisions of the Netherlands Financial Supervision Act and any implementing
regulation.

          Section 3.08 Investment Company Status. No Loan Party nor any of its Subsidiaries is an “investment company” as defined in, or
subject to regulation under, the Investment Company Act of 1940.

          Section 3.09 Taxes. Except as could not reasonably be expected, individually or in the aggregate, to result in
a Material Adverse Effect, each Loan Party and its Subsidiaries has timely filed or caused to be
filed all federal and other material Tax returns and reports required to have been filed and has
paid or caused to be paid all Taxes shown thereon, except Taxes that are being contested in good
faith by appropriate proceedings and for which such Loan Party or such Subsidiary, as applicable,
has established adequate reserves determined in accordance with GAAP. There are no proposed Tax
deficiencies or assessments that, in the aggregate, are material to each Loan Party and its
Subsidiaries, taken as a whole. There are no liens for any material Taxes on any assets of each
Loan Party and its Subsidiaries.

          Section 3.10 ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together
with all other such ERISA Events for which liability is reasonably expected to occur, could
reasonably be expected to result in a Material Adverse Effect. Except as could not reasonably be
expected to have 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, either individually or together with one or more such Plans,
as of the date of the most recent financial statements reflecting such amounts, exceed the fair
market value of the assets of such Plan or Plans.

          Section 3.11 Disclosure. Neither the information contained in the Information Memorandum nor in any of the other
reports, the financial statements, certificates or other information (including public filings of
Holdings) furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender in
connection with the negotiation of this Agreement or any other Loan Document (as modified or
supplemented by other information so furnished) taken as a whole contains any untrue statement of a
material fact or omits to state any material fact necessary to make the statements therein, in the
light of the circumstances under which such statements were made not misleading; provided
that, with respect to pro forma and projected financial information, the Borrowers and Holdings
represent only that such information was prepared in good faith based upon assumptions believed to
be reasonable at the time delivered in light of the circumstances when made and, if such pro forma
and projected financial information was delivered prior to the Effective Date, as of the Effective
Date.

          Section 3.12 Reserved

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          Section 3.13 Solvency.

          (a) Immediately after the consummation of the Transactions to occur on the Effective Date, and
immediately after the making of each Loan and the issuance of each Letter of Credit hereunder, each
Loan Party will be Solvent, (i) the fair value of the assets of such Loan Party, at a fair
valuation, at such time exceed its debts and liabilities, subordinated, contingent or otherwise;
(ii) the present fair saleable value of the property of such Loan Party at such time are greater
than the amount that will be required to pay the probable liability of its debts and other
liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become
absolute and matured; (iii) such Loan Party at such time is able to pay its debts and liabilities,
subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured;
and (iv) such Loan Party at such time does not have unreasonably small capital with which to
conduct the business in which it is engaged as such business is then conducted and is proposed to
be conducted thereafter.

          (b) No Loan Party intends to, or will permit any of its Subsidiaries to, and no Loan Party
believes that it or any of its Subsidiaries will, incur debts beyond its ability to pay such debts
as they mature, taking into account the timing of and amounts of cash to be received by it or any
such Subsidiary and the timing of the amounts of cash to be payable on or in respect of its
Indebtedness or the Indebtedness of any such Subsidiary.

          Section 3.14 Insurance. Schedule 3.14 sets forth a description of all insurance maintained by or on behalf
of the Loan Parties and the Subsidiaries as of the Effective Date. As of the Effective Date, all
premiums in respect of such insurance have been paid. The Borrowers and Holdings believe that the
insurance maintained by or on behalf of the Loan Parties and the Subsidiaries is adequate.

          Section 3.15 Capitalization and Subsidiaries. As of the Effective Date, Schedule 3.15 sets forth (a) a correct and complete list
of the name and relationship to Holdings of each and all of Holdings’ Subsidiaries, (b) a true and
complete listing of each class of each of the Loan Parties’ authorized Equity Interests, of which
all of such issued shares are validly issued, outstanding, fully paid and non-assessable, and
(other than shares issued by Holdings) owned beneficially and of record by the Persons identified
on Schedule 3.15, and (c) the type of entity of Holdings and each of its Subsidiaries. All
of the issued and outstanding Equity Interests owned by any Loan Party has been (to the extent such
concepts are relevant with respect to such ownership interests) duly authorized and issued and is
fully paid and non-assessable.

          Section 3.16 Security Interest in Collateral. The provisions of this Agreement and the other Loan Documents create legal and valid Liens
on all the Collateral in favor of the Administrative Agent, for the benefit of the Administrative
Agent and the Lenders, and such Liens constitute perfected and continuing Liens on the Collateral,
securing, in the case of the Liens created under the US Collateral Documents, the Secured
Obligations and, in the case of the Liens created under the Netherlands Collateral Documents, the
Netherlands Secured Obligations, enforceable against the applicable Loan Party and all third
parties, and having priority over all other Liens on the Collateral except in the case of (a) liens
permitted by Section 6.02, to the extent any such liens would have priority over the Liens in favor
of the Administrative Agent pursuant to any applicable law or agreement (including, without
limitation any Liens on Senior Notes Priority Collateral securing the Senior Notes Obligations
permitted hereunder to the extent provided in the Intercreditor Agreement); and (b) Liens perfected
only by possession (including possession of any certificate of title) to the extent the
Administrative Agent has not obtained or does not maintain possession of such Collateral, and
provided that, with respect to the Netherlands Collateral Documents, any required notification
(mededeling), registration (registratie of inschrijving) or waiver (afstand van recht), as
contemplated by the Netherlands Collateral Documents for purposes of the

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perfection of the security interests purported to be created by such documents, has been duly
and timely made, completed or obtained.

          Section 3.17 Employment Matters. As of the Effective Date, except as could not reasonably be expected, individually or in
the aggregate, to result in a Material Adverse Effect, there are no strikes, lockouts or slowdowns
against any Loan Party or any Subsidiary pending or, to the knowledge of the Borrowers, threatened.
The hours worked by and payments made to employees of the Loan Parties and the Subsidiaries have
not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local
or foreign law dealing with such matters except as could not reasonably be expected, individually
or in the aggregate, to result in a Material Adverse Effect. Except as could not reasonably be
expected, individually or in the aggregate, to result in a Material Adverse Effect, all payments
due from any Loan Party or any Subsidiary, or for which any claim may be made against any Loan
Party or any Subsidiary, on account of wages and employee health and welfare insurance and other
benefits, have been paid or accrued as a liability on the books of the Loan Party or such
Subsidiary.

          Section 3.18 Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on the
continued successful performance of the functions of the group of the Loan Parties as a whole and
the successful operation of each of the Loan Parties is dependent on the successful performance and
operation of each other Loan Party. Each Loan Party expects to derive benefit (and its board of
directors or other governing body has determined that it may reasonably be expected to derive
benefit), directly and indirectly, from (i) successful operations of each of the other Loan Parties
and (ii) the credit extended by the Lenders to the Borrowers hereunder, both in their separate
capacities and as members of the group of companies. Each Loan Party has determined that
execution, delivery, and performance of this Agreement and any other Loan Documents to be executed
by such Loan Party and each of the other Transactions is within its purpose, will be of direct and
indirect benefit to such Loan Party, and is in its best interest.

          Section 3.19 Intellectual Property. Except as could not reasonably be expected, individually or in the aggregate, to result in
a Material Adverse Effect, each Loan Party and its Subsidiaries owns, or is licensed to use, all
Intellectual Property necessary for the conduct of its business as currently conducted. No
material claim has been asserted and is pending by any Person challenging or questioning the use of
any Intellectual Property or the validity or effectiveness of any Intellectual Property in any
respect that could reasonably be expected to have a Material Adverse Effect, nor does any Loan
Party or its Subsidiaries know of any valid basis for any such claim. Except as could not
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect,
the use of Intellectual Property by each Loan Party and its Subsidiaries does not infringe on the
rights of any Person in any material respect.

          Section 3.20 Federal Regulations. No part of the proceeds of any Loans, and no other extensions of credit hereunder, will be
used for “buying” or “carrying” any “margin stock” within the respective meanings of each of the
quoted terms under Regulation U as now and from time to time hereafter in effect or for any purpose
that violates the provisions of the Regulations of the Board. If requested by any Lender or the
Administrative Agent, the relevant Borrower will furnish to the Administrative Agent and each
Lender a statement to the foregoing effect in conformity with the requirements of FR Form G-3 or FR
Form U-1, as applicable, referred to in Regulation U.

          Section 3.21 Senior Indebtedness. The Secured Obligations of the US Loan Parties constitute permitted Indebtedness under
Section 3.2(1) of the Senior Notes Indenture secured by Permitted Liens under clause (1) of the
definition of that term contained in the Senior Notes Indenture.

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          Section 3.22 Netherlands Collateral Documents. The assets pledged under the Netherlands Collateral Documents to secure the Netherlands
Secured Obligations constitute substantially all of the real and personal property, and
substantially all of the tangible and intangible property, of the Netherlands Loan Parties.

          Section 3.23 Inactive Subsidiary. The Inactive Subsidiary has no, nor will at any time have any, property or assets,
liabilities, contractual obligations or operations and the US Borrower intends to dissolve the
Inactive Subsidiary within thirty (30) days after the Effective Date.

ARTICLE IV

Conditions

          Section 4.01 Effective Date. The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of
Credit hereunder shall not become effective until the date on which each of the following
conditions is satisfied (or waived in accordance with Section 9.02):

          (a) Credit Agreement and Loan Documents; Legal Opinions. The Administrative Agent (or
its counsel) shall have received (i) from each party hereto either (A) a counterpart of this
Agreement signed on behalf of such party or (B) written evidence satisfactory to the Administrative
Agent (which may include facsimile transmission of a signed signature page of this Agreement) that
such party has signed a counterpart of this Agreement and (ii) duly executed copies of the other
Loan Documents (other than Loan Documents that pursuant to the express terms thereof are not
contemplated to be executed and delivered on the Effective Date) and such other certificates,
documents, instruments and agreements as the Administrative Agent shall reasonably request in
connection with the transactions contemplated by this Agreement and such other Loan Documents,
including any promissory notes requested by a Lender pursuant to Section 2.10 payable to the order
of each such requesting Lender and (iii) written opinion(s) of (A) the Loan Parties’ special New
York and Dutch counsels and (B) the Administrative Agent’s special Dutch counsel, in each case,
addressed to the Administrative Agent, the Issuing Bank and the Lenders.

          (b) Financial Statements and Projections. The Lenders shall have received (i) audited
consolidated financial statements of Holdings for the fiscal year ending December 31, 2008, (ii)
unaudited interim consolidated financial statements of Holdings for each month ended after the date
of the latest applicable financial statements delivered pursuant to clause (i) of this paragraph as
to which such financial statements are available, and (iii) satisfactory projections for fiscal
years 2010, 2011 and 2012.

          (c) Closing Certificates; Certified Certificate of Incorporation; Good Standing
Certificates. The Administrative Agent shall have received (i) a certificate of each Loan
Party, dated the Effective Date and executed by its Secretary or Assistant Secretary or, as the
case may be, its managing directors, which shall (A) certify the resolutions of its Board of
Directors, members or other body authorizing the execution, delivery and performance of the Loan
Documents to which it is a party, (B) identify by name and title and bear the signatures of the
Financial Officers and any other officers of such Loan Party, or such other Persons authorized to
sign on behalf of such Loan Party, authorized to sign the Loan Documents to which it is a party,
and (C) contain appropriate attachments, including, if applicable, the certificate or articles of
incorporation or organization of each Loan Party certified, if applicable, by the relevant
authority of the jurisdiction of organization of such Loan Party and a true and correct copy of its
by-laws or operating, management or partnership agreement or, as the case may be, its articles of
association, and (ii) to the extent available in such jurisdiction, a long form good standing
certificate for each Loan Party from its jurisdiction of organization and from each other
jurisdiction constituting a material location of such Loan Party.

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          (d) No Default Certificate. The Administrative Agent shall have received a
certificate, signed by a financial officer of Holdings, on the initial Borrowing date (i) stating
that no Default has occurred and is continuing, and (ii) stating that the representations and
warranties contained in Article III are true and correct as of such date.

          (e) Fees. The Lenders and the Administrative Agent shall have received all fees
required to be paid, and all reasonable out-of-pocket expenses for which invoices have been
presented (including the reasonable fees and expenses of legal counsel), on or before the Effective
Date. All such amounts will be paid with proceeds of Loans made on the Effective Date and will be
reflected in the funding instructions given by the Borrower Representative to the Administrative
Agent on or before the Effective Date.

          (f) Lien Searches. Other than with regard to the Netherlands jurisdiction, the
Administrative Agent shall have received the results of a recent lien search in each of the
jurisdictions where assets of the Loan Parties are located, and such search shall reveal no liens
on any of the assets of the Loan Parties except for liens permitted by Section 6.02 or discharged
on or prior to the Effective Date pursuant to a pay-off letter or other documentation satisfactory
to the Administrative Agent.

          (g) Pay-Off Letter. The Administrative Agent shall have received satisfactory pay-off
letters for all existing Indebtedness to be repaid from the proceeds the initial Borrowing,
confirming that all Liens upon any of the property of the Loan Parties constituting Collateral will
be terminated concurrently with such payment and all letters of credit issued or guaranteed as part
of such Indebtedness shall have been cash collateralized or supported by a Letter of Credit.

          (h) Funding Accounts. The Administrative Agent shall have received a notice setting
forth the deposit account(s) of each Borrower (with respect to such Borrower, a “Funding
Account”) to which the Administrative Agent and the Lenders are authorized by the Borrowers to
transfer the proceeds of any Borrowings by such Borrower requested or authorized pursuant to this
Agreement.

          (i) [Reserved]

          (j) Control Agreements. The Administrative Agent shall have received each Deposit
Account Control Agreement with respect to Accounts held with the Administrative Agent required to
be provided pursuant to Section 4.14 of the US Security Agreement.

          (k) Solvency. The Administrative Agent shall have received a solvency certificate
with respect to all Loan Parties from a Financial Officer of the US Borrower and, with respect to
Holdings, from a Financial Officer of Holdings to the effect that the Loan Parties are, and after
giving effect to the incurrence of all indebtedness and obligations being incurred in connection
herewith and therewith (including the Senior Notes Obligations) will be and will continue to be
Solvent.

          (l) Borrowing Base Certificate. The Administrative Agent shall have received an
Aggregate Borrowing Base Certificate which calculates the Aggregate Borrowing Base and Borrowing
Base Certificates which calculate the respective Borrowing Bases of the Borrowers, in each case as
of December 31, 2009 with customary supporting documentation and supplemental reporting reasonably
satisfactory to the Administrative Agent.

          (m) Closing Availability. After giving effect to all Borrowings to be made on the
Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all
fees and expenses due hereunder, the Aggregate Availability (without giving effect to the
Availability Block) plus

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cash and cash equivalents subject to a Deposit Account Control Agreement shall not be less
than $25,000,000.

          (n) Senior Notes. The Borrowers shall have received gross proceeds of at least
$375,000,000 in consideration of the issuance of the Senior Notes upon terms and conditions
reasonably satisfactory to the Administrative Agent and the Lenders, and the Administrative Agent
and the Lenders shall have received true copies of the executed Senior Notes Indenture, the Senior
Notes, the Intercreditor Agreement, related collateral documents and all other material documents
and agreements executed and delivered in connection therewith, all of which shall be in form and
substance reasonably satisfactory to the Administrative Agent and the Lenders.

          (o) Pledged Stock; Stock Powers; Pledged Notes. The Administrative Agent shall have
received (i) the certificates representing the shares of Capital Stock pledged pursuant to the US
Security Agreement, together with an undated stock power for each such certificate executed in
blank by a duly authorized officer of the pledgor thereof and (ii) each promissory note (if any)
pledged to the Administrative Agent pursuant to the US Security Agreement endorsed (without
recourse) in blank (or accompanied by an executed transfer form in blank) by the pledgor thereof.

          (p) Filings, Registrations and Recordings. Each document (including any Uniform
Commercial Code financing statement) required by the Collateral Documents or under law or
reasonably requested by the Administrative Agent to be filed, registered or recorded in order to
create in favor of the Administrative Agent, for the benefit of the Lenders, a first priority
perfected Lien (or second priority Lien, subject in priority only to the Liens securing the Senior
Notes Obligations permitted hereunder, with respect to the Senior Notes Priority Collateral to the
extent provided in the Intercreditor Agreement) on the Collateral described therein, prior and
superior in right to any other Person (other than with respect to Liens expressly permitted by
Section 6.02), shall be in proper form for filing, registration or recordation.

          (q) Appraisals. The Administrative Agent shall have received appraisals of the
Inventory of each Loan Party from an appraiser selected and engaged by the Administrative Agent,
and prepared on a basis satisfactory to the Administrative Agent, such appraisals to include,
without limitation, information required by applicable law and regulations, which appraisals shall
be acceptable to the Administrative Agent.

          (r) Mortgages. The Administrative Agent shall have received, with respect to each
parcel of real property (other than the Non-Mortgaged Properties) owned by a Loan Party, in favor
of the Administrative Agent, in form and substance reasonably satisfactory to the Administrative
Agent, a Mortgage (or amendments to existing Mortgages) on such property which mortgage shall, upon
recordation in the applicable filing office, create a valid and enforceable first priority Lien (or
second priority Lien, subject in priority only to the Liens securing the Senior Notes Obligations
permitted hereunder, with respect to the Senior Notes Priority Collateral to the extent provided in
the Intercreditor Agreement), subject to Liens permitted by Section 6.02, in favor of the
Administrative Agent for the benefit of itself and the Lenders.

          (s) Insurance. The Administrative Agent shall have received evidence of insurance
coverage in form, scope, and substance reasonably satisfactory to the Administrative Agent and
otherwise in compliance with the terms of Section 4.12 of the Security Agreements.

          (t) Letter of Credit Application. The Administrative Agent shall have received a
properly completed letter of credit application if the issuance of a Letter of Credit will be
required on the Effective Date.

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          (u) Approvals. All governmental and third party approvals necessary in connection
with the execution of the Loan Documents, the Transactions and the continuing operations of each
Borrower and its Subsidiaries shall have been obtained on terms reasonably satisfactory to the
Administrative Agent, and shall be in full force and effect.

          (v) Due Diligence. The Administrative Agent shall have completed, and shall be
satisfied with the results of, all business, legal, tax and regulatory due diligence, and the
corporate structure, capital structure, other debt instruments, material accounts and governing
documents of Holdings, each Borrower and its Subsidiaries shall be acceptable to the Administrative
Agent.

          (w) Netherlands Collateral. The Administrative Agent shall have received all
information and/or documentation that the Administrative Agent, in its reasonable discretion,
considers necessary or desirable in connection with the Netherlands Collateral.

          (x) Other Documents. The Administrative Agent shall have received such other
documents as the Administrative Agent, the Issuing Bank or their counsel may have reasonably
requested, all in form and substance reasonably acceptable to the Administrative Agent, the Issuing
Bank and their counsel.

          Section 4.02 Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of the
Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction
of the following conditions:

          (a) The representations and warranties of the Borrowers set forth in this Agreement that are
qualified by materiality shall be true and correct and the representations and warranties that are
not qualified by materiality shall be true and correct in all material respects on and as of the
date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of
Credit, as applicable except to the extent that such representation or warranty expressly relates
to an earlier date, in which case it shall be true and correct as of such date.

          (b) At the time of and immediately after giving effect to such Borrowing or the issuance,
amendment, renewal or extension of such Letter of Credit, as applicable, no Default shall have
occurred and be continuing.

          (c) After giving effect to any Borrowing or the issuance of any Letter of Credit, (i) the USD
Equivalent of the Aggregate Credit Exposure does not exceed the sum of the total Revolving
Commitments (less (i) the Availability Block and (ii) Reserves (other than Reserves which Agent
elects not to deduct for such purpose in its sole discretion)), (ii) the USD Equivalent of the
total Revolving Exposures (excluding Revolving Netherlands Exposures) does not exceed the US
Borrowing Base, (iii) the USD Equivalent of the total Revolving Euro Exposures with respect to the
Borrowers does not exceed the Euro Sublimit, (iv) the USD Equivalent of the total Revolving
Netherlands Exposures does not exceed the sum of the total Revolving Netherlands Sublimit, (v) the
USD Equivalent of the total Revolving Netherlands Exposure does not exceed the Netherlands
Borrowing Base and (vi) the USD Equivalent of the total Revolving Exposures relating to the
Netherlands Borrower does not exceed the Libbey Europe Sublimit.

Except with respect to Protective Advances and the Settlement of Swingline Loans, each Borrowing
and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to
constitute a representation and warranty by the Borrowers on the date thereof as to the matters
specified in paragraphs (a), (b) and (c) of this Section.

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ARTICLE V

Affirmative Covenants

          Until the Commitments have expired or been terminated and the principal of and interest on
each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit
shall have expired, terminated, cash collateralized or backstopped and all LC Disbursements shall
have been reimbursed, each Loan Party executing this Agreement covenants and agrees, with the
Lenders that:

          Section 5.01 Financial Statements; Borrowing Base and Other Information. The Borrowers will furnish to the Administrative Agent and each Lender:

          (a) within 90 days after the end of each fiscal year of Holdings, its audited consolidated
balance sheet and related statements of operations, stockholders’ equity and cash flows as of the
end of and for such year, setting forth in each case in comparative form the figures for the
previous fiscal year, all reported on by independent public accountants of recognized national
standing (without a “going concern” or like qualification or exception and without any
qualification or exception as to the scope of such audit) to the effect that such consolidated
financial statements present fairly in all material respects the financial condition and results of
operations of Holdings and its consolidated Subsidiaries on a consolidated basis in accordance with
GAAP consistently applied, accompanied by any management letter prepared by said accountants.
Notwithstanding the foregoing, in the event that the US Borrower delivers an annual report on Form
10-K of Holdings for such fiscal year the Borrowers will be deemed to have delivered the financial
statements required by this Section 5.01(a) on the date of such filing;

          (b) within 55 days after the end of each of the first three fiscal quarters of Holdings, its
consolidated balance sheet and related statements of operations, stockholders’ equity and cash
flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year,
setting forth in each case in comparative form the figures for the corresponding period or periods
of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified
by one of the Financial Officers of the Borrower Representative as presenting fairly in all
material respects the financial condition and results of operations of Holdings and its
consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied,
subject to normal year-end audit adjustments and the absence of footnotes. Notwithstanding the
foregoing, in the event that the US Borrower delivers a quarterly report on Form 10-Q of Holdings
for such fiscal quarter, the Borrowers will be deemed to have delivered the financial statements
required by this Section 5.01(b) on the date of such filing;

          (c) within 30 days after the end of each fiscal month of Holdings other than any month that is
the last month of a fiscal quarter, its consolidated and consolidating balance sheet, statements of
cash flows and income statement as of the end of and for such fiscal month and the then elapsed
portion of the fiscal year, setting forth in each case in comparative form the figures for the
corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the
previous fiscal year;

          (d) concurrently with any delivery of financial statements under clause (a), (b) or (c) above,
a certificate of a Financial Officer of the Borrower Representative in substantially the form of
Exhibit G (i) certifying, in the case of the financial statements delivered under clause
(b), as presenting fairly in all material respects the financial condition and results of
operations of Holdings and its consolidated Subsidiaries on a consolidated basis in accordance with
GAAP consistently applied, subject to normal year-end audit adjustments and the absence of
footnotes, (ii) certifying as to whether a Default has occurred and, if a Default has occurred,
specifying the details thereof and any action taken or proposed to be taken with respect thereto
and (iii) stating whether any change in GAAP or in the application thereof has occurred since the
date of the audited financial statements referred to in

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Section 3.04 that would affect the financial statements accompanying such certificate and specifying
the effect of such change on the financial statements accompanying such certificate;

          (e) concurrently with any delivery of financial statements under clause (a) above, a
certificate of the accounting firm that reported on such financial statements stating whether they
obtained knowledge during the course of their examination of such financial statements of any
Default (which certificate may be limited to the extent required by accounting rules or
guidelines);

          (f) as soon as available, but in any event not more than 60 days after the end of each fiscal
year of Holdings, a copy of the plan and forecast (including a projected consolidated balance
sheet, income statement and funds flow statement) of Holdings for each quarter of the upcoming
fiscal year (the “Projections”) in form reasonably satisfactory to the Administrative
Agent;

          (g) as soon as available but in any event within 20 days of the end of each calendar month
(and, during any Restriction Period, each calendar week), and at such other times as may be
reasonably requested by the Administrative Agent, as of the period then ended, an Aggregate
Borrowing Base Certificate, together with a Borrowing Base Certificate for each Borrower which
calculates such Borrower’s Borrowing Base, and supporting information in connection therewith,
together with any additional reports with respect to the Borrowing Base of any Borrower as the
Administrative Agent may reasonably request;

          (h) as soon as available but in any event within 20 days of the end of each calendar month
(and, during any Restriction Period, each calendar week) and at such other times as may be
reasonably requested by the Administrative Agent, as of the period then ended, all delivered in a
manner reasonably acceptable to the Administrative Agent:

          (i) a detailed aging of the Accounts of each Loan Party (1) including lists of all invoices
aged by invoice date and due date (with an explanation of the terms offered) and (2) reconciled to
the Borrowing Base Certificate of each Borrower delivered as of such date prepared in a manner
reasonably acceptable to the Administrative Agent, together with a summary specifying the balance
due for each Account Debtor;

          (ii) a schedule detailing the Inventory of each Loan Party, in form reasonably satisfactory to
the Administrative Agent, (1) by location (showing Inventory in transit, any Inventory located with
a third party under any consignment, bailee arrangement, or warehouse agreement), by class (raw
material, work-in-process and finished goods), by product type, and by volume on hand, which
Inventory shall be valued at the lower of cost (determined on a first-in, first-out basis) or
market and adjusted for Reserves as the Administrative Agent has previously indicated to the
Borrower Representative are deemed by the Administrative Agent to be appropriate, (2) including a
report of any variances or other results of Inventory counts performed by each Loan Party since the
last Inventory schedule (including information regarding sales or other reductions, additions,
returns, credits issued by each Loan Party and complaints and claims made against the Borrowers),
and (3) reconciled to the Borrowing Base Certificate of each Borrower delivered as of such date;

          (iii) a worksheet of calculations prepared by each Loan Party to determine Eligible Accounts
and Eligible Inventory, such worksheets detailing the Accounts and Inventory excluded from Eligible
Accounts and Eligible Inventory and the reason for such exclusion;

          (iv) a reconciliation of the Accounts and Inventory of each Loan Party between the amounts
shown in the Borrowers’ general ledger and financial statements and the reports delivered pursuant
to clauses (i) and (ii) above; and

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          (v) a reconciliation of the loan balance per each Borrower’s general ledger to the loan
balances under this Agreement;

          (i) as soon as available but in any event within 20 days of the end of each calendar month and
at such other times as may be reasonably requested by the Administrative Agent, as of the month
then ended, a schedule and aging of the Borrowers’ and the other Loan Parties’ accounts payable,
delivered in a manner reasonably acceptable to the Administrative Agent;

          (j) promptly upon the Administrative Agent’s request:

          (i) copies of invoices in connection with the invoices issued by any Loan Party in connection
with any Accounts, credit memos, shipping and delivery documents, and other information related
thereto;

          (ii) copies of purchase orders, invoices, and shipping and delivery documents in connection
with any Inventory or Equipment purchased by any Loan Party; and

          (iii) a schedule detailing the balance of all intercompany accounts of the Loan Parties;

          (k) as soon as available but in any event within 20 days of the end of each calendar month
(and during any Restriction Period, each calendar week) and at such other times as may be
reasonably requested by the Administrative Agent, as of the period then ended, each Loan Party’s
sales journal, cash receipts journal (identifying trade and non-trade cash receipts) and debit
memo/credit memo journal;

          (l) within 20 days of each March 31 and September 30, an updated customer list for each
Borrower and its Subsidiaries, which list shall state the customer’s name, mailing address and
phone number, delivered in a manner reasonably acceptable to the Administrative Agent, and shall be
certified as true and correct by a Financial Officer of the Borrower Representative;

          (m) within 20 days of the first Business Day of each March, a certificate of good standing for
each Loan Party from the appropriate governmental officer in its jurisdiction of incorporation,
formation, or organization (to the extent available in such jurisdiction);

          (n) no later than 5 Business Days prior to the effectiveness thereof, copies of substantially
final drafts of any proposed amendment, waiver or other modification other than a supplement to add
additional guarantors with respect to the Senior Notes (so long as such guarantors also guaranty
all of the Secured Obligations and such guaranty of the Senior Notes is permitted by this
Agreement);

          (o) promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials filed by Holdings, any Borrower or any Subsidiary
with the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all
of the functions of said Commission, or with any national securities exchange, as the case may be;
and

          (p) promptly following any request therefor, such other reasonably available information
regarding the operations, business affairs and financial condition of Holdings or any Subsidiary,
as the Administrative Agent or any Lender may reasonably request.

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

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          (a) the occurrence of any Default;

          (b) receipt of any written notice of any governmental investigation or any litigation or
proceeding commenced or threatened against any Loan Party that (i) seeks damages in excess of
$5,000,000, (ii) seeks injunctive relief, (iii) is asserted or instituted against any Plan, its
fiduciaries or its assets, (iv) alleges criminal misconduct by any Loan Party, (v) alleges the
violation of any law regarding, or seeks remedies in connection with, any Environmental Laws
involving liability in excess of $5,000,000, (vi) contests any tax, fee, assessment, or other
governmental charge in excess of $5,000,000, or (vii) involves any product recall;

          (c) any Lien (other than Liens permitted by Section 6.02) or asserted against any of the
Collateral;

          (d) any loss, damage, or destruction to the Collateral in the amount of $2,500,000 or more,
whether or not covered by insurance;

          (e) 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 liability of the Borrowers and their
Subsidiaries in an aggregate amount exceeding $2,500,000; and

          (f) any other development that results in, or could reasonably be expected to result in, a
Material Adverse Effect.

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

          Section 5.03 Existence; Conduct of Business. Each Loan Party will, and will cause each Subsidiary to, (a) do or cause to be done all
things necessary to preserve, renew and keep in full force and effect its legal existence and the
rights, qualifications, licenses, permits, franchises, governmental authorizations, Intellectual
Property rights, licenses and permits material to the conduct of its business, and maintain all
requisite authority to conduct its business in each jurisdiction in which its business is
conducted, in each case, except as could not be reasonably expected, individually or in the
aggregate, to result in a Material Adverse Effect; provided that the foregoing shall not
prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03 and (b)
carry on and conduct its business in substantially the same fields of enterprise as it is presently
conducted or enterprises reasonably related thereto or reasonable extensions thereof.

          Section 5.04 Payment of Obligations. Each Loan Party will, and will cause each Subsidiary to, pay or discharge all Material
Indebtedness and all other material liabilities and obligations, including Taxes, before the same
shall become delinquent or in default, except (a) where the validity or amount thereof is being
contested in good faith by appropriate proceedings, (b) where such Loan Party or such Subsidiary
has set aside on its books adequate reserves with respect thereto if and to the extent required by
GAAP or (c) as could not be reasonably expected, individually or in the aggregate, to result in a
Material Adverse Effect.

          Section 5.05 Maintenance of Properties. Except as could not be reasonably expected, individually or in the aggregate, to result in
a Material Adverse Effect, each Loan Party will, and will cause each Subsidiary to, keep and
maintain all property material to the conduct of its business in good working order and condition,
ordinary wear and tear excepted.

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          Section 5.06 Books and Records; Inspection Rights. Each Loan Party will, and will cause each Subsidiary to, (i) keep proper books of record
and account in which full, true and correct entries in all material respects in conformity with
GAAP, are made of all dealings and transactions in relation to its business and activities and (ii)
permit any representatives designated by the Administrative Agent or any Lender (including
employees of the Administrative Agent, any Lender or any consultants, accountants, lawyers and
appraisers retained by the Administrative Agent), upon reasonable prior notice during normal
business hours, to visit and inspect its properties, to conduct field examinations, to examine and
make extracts from its books and records, including environmental assessment reports and Phase I or
Phase II studies, and to discuss its affairs, finances and condition with its officers and
independent accountants, all at such reasonable times and as often as reasonably requested;
provided, however that Financial Officers of the Borrowers shall be entitled to participate
in any discussion or meeting with the accountants and, absent the continuance of an Event of
Default, Borrowers shall not be required to reimburse the Administrative Agent or the Lenders for
more than two visits (and if there are more than two such visits in a fiscal year, the
Administrative Agent shall be reimbursed for its visits before any Lender is so reimbursed for its
visits) in any fiscal year (it being understood without limitation of the foregoing that there
shall be no limitation on the frequency of such visits and inspections (x) if an Event of Default
shall have occurred and be continuing or (y) such visit and/or inspection is paid for by the
relevant Lender). After the occurrence and during the continuance of any Event of Default, each
Loan Party shall provide the Administrative Agent and each Lender with contact information relating
to its suppliers. The Loan Parties acknowledge that the Administrative Agent, after exercising its
rights of inspection, may prepare and distribute to the Lenders certain Reports pertaining to the
Loan Parties’ assets for internal use by the Administrative Agent and the Lenders.

          Section 5.07 Compliance with Laws. Except as could not be reasonably expected, individually or in the aggregate, to result in
a Material Adverse Effect, each Loan Party will, and will cause each Subsidiary to, comply with all
Requirements of Law applicable to it or its property.

          Section 5.08 Use of Proceeds. The proceeds of the Loans will be used only to finance the refinancing of existing
indebtedness, fees and expenses relating to the foregoing and for other general corporate purposes.
No part of the proceeds of any Loan and no Letter of Credit will be used, whether directly or
indirectly, for any purpose that entails a violation of any of the Regulations of the Board,
including Regulations T, U and X.

          Section 5.09 Insurance. Each Loan Party will, and will cause each Subsidiary to, maintain with financially sound and
reputable carriers having a financial strength rating of at least A- by A.M. Best Company (or with
financially sound and reputable carriers that are acceptable to Administrative Agent) (a) insurance
in such amounts (with no greater risk retention) and against such risks (including loss or damage
by fire and loss in transit; theft, burglary, pilferage, larceny, embezzlement, and other criminal
activities; business interruption; and general liability) and such other hazards, as is customarily
maintained by companies of established repute engaged in the same or similar businesses operating
in the same or similar locations and (b) all insurance required pursuant to the Collateral
Documents. The Borrowers will furnish to the Lenders, upon reasonable request of the
Administrative Agent, a certificate evidencing the insurance so maintained.

           Section 5.10 [Reserved].

          Section 5.11 Appraisals. At any time that the Administrative Agent requests, each of the Borrowers will, and will
cause each Subsidiary to, provide the Administrative Agent with appraisals or updates thereof of
their Inventory from an appraiser selected and engaged by the Administrative Agent, and prepared on
a basis satisfactory to the Administrative Agent, such appraisals and updates to include, without
limitation, information required by applicable law and regulations; provided, however, that
if no

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Event of Default has occurred and is continuing, not more than two such appraisals per
calendar year shall be at the sole expense of the Loan Parties.

          Section 5.12 Depository Banks. Each of the US Loan Parties will, other than with respect to Non-Restricted Deposit
Accounts or unless otherwise consented to by Administrative Agent in its sole discretion, maintain
the Administrative Agent (or one of its Affiliates) as its principal depository bank, including for
the maintenance of operating, administrative, cash management, collection activity, and other
deposit accounts for the conduct of its business.

          Section 5.13 Environmental Laws. Except as could not be reasonably expected, individually or in the aggregate, to result in
a Material Adverse Effect, each Loan Party will, and will cause each Subsidiary to:

          (a) comply with, all applicable Environmental Laws, and obtain and comply with and maintain,
any and all licenses, approvals, notifications, registrations or permits required by applicable
Environmental Laws; and

          (b) conduct and complete all investigations, studies, sampling and testing, and all remedial,
removal and other actions required under Environmental Laws and promptly comply with all lawful
orders and directives of all Governmental Authorities regarding Environmental Laws.

          Section 5.14 Additional Collateral; Further Assurances.

          (a) Subject to applicable law, (i) the US Borrower and each Subsidiary that is a US Loan Party
shall cause each of its domestic Subsidiaries formed or acquired after the date of this Agreement
in accordance with the terms of this Agreement to become a US Loan Party and (ii) the Netherlands
Borrower and each Subsidiary that is a Netherlands Loan Party shall cause each of its Subsidiaries
that is organized under the laws of The Netherlands and is formed or acquired after the date of
this Agreement in accordance with the terms of this Agreement to become a Netherlands Loan Party,
in each case by executing the Joinder Agreement set forth as Exhibit H hereto (the
“Joinder Agreement”) by the earlier of (I) the date that any such Subsidiary guarantees any
Senior Notes Obligations and (II) the date that is ten (10) days after the formation or acquisition
of such Subsidiary. Upon execution and delivery thereof, each such Person (i) that is organized
under the laws of the United States (A) shall automatically become a US Loan Guarantor hereunder
and thereupon shall have all of the rights, benefits, duties, and obligations in each such capacity
under the Loan Documents and (B) will grant first priority Liens (or second priority Liens, subject
in priority only to the Liens securing the Senior Notes Obligations permitted hereunder, with
respect to the Senior Notes Priority Collateral to the extent provided in the Intercreditor
Agreement) to the Administrative Agent, for the benefit of the Administrative Agent and the
Lenders, in any property of such Loan Party which constitutes Collateral, including any parcel of
real property located in the United States owned by such Loan Party with a fair market value in
excess of $1,000,000 and (ii) that is organized under the laws of The Netherlands (A) shall
automatically become a Netherlands Loan Guarantor hereunder thereupon shall have all of the rights,
benefits, duties, and obligations in each such capacity under the Loan Documents and (B) will grant
first priority Liens to the Administrative Agent, for the benefit of the Administrative Agent and
the Lenders, in any property of such Loan Party which constitutes Netherlands Collateral, including
any parcel of real property owned by such Netherlands Loan Party with a fair market value in excess
of $1,000,000.

          (b) Each US Loan Party will cause (i) 100% of the issued and outstanding Equity Interests of
each of its domestic Subsidiaries and (ii) 65% (or 100% to the extent such security interest
secures the Netherlands Obligations (or a lesser percentage to the extent a security interest in
such shares would cause a material tax cost; but in no case less than 65%)) of the issued and
outstanding Equity

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Interests entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) and 100%
of the issued and outstanding Equity Interests not entitled to vote (within the meaning of Treas.
Reg. Section 1.956-2(c)(2)) in each Foreign Subsidiary directly owned by the US Borrower or any
domestic Subsidiary, to be subject at all times to a first priority, perfected Lien in favor of the
Administrative Agent pursuant to the terms and conditions of the US Collateral Documents as the
Administrative Agent shall reasonably request.

          (c) Each Netherlands Loan Party will cause 100% of the issued and outstanding Equity Interests
of (i) each of its Subsidiaries that is organized under the laws of the Netherlands and (ii) each
of its direct Subsidiaries that is not organized under the laws of the Netherlands to be subject at
all times to a first priority, perfected Lien in favor of the Administrative Agent pursuant to the
terms and conditions of the Netherlands Collateral Documents (or in the case of (ii) above, similar
terms and conditions) as the Administrative Agent shall reasonably request.

          (d) Without limiting the foregoing, each Loan Party will execute and deliver, or cause to be
executed and delivered, to the Administrative Agent such documents, agreements and instruments, and
will take or cause to be taken such further actions (including the filing and recording of
financing statements, fixture filings, mortgages, deeds of trust and other documents and such other
actions or deliveries of the type required by Section 4.01, as applicable), which may be required
by law or which the Administrative Agent may, from time to time, reasonably request to carry out
the terms and conditions of this Agreement and the other Loan Documents and to ensure perfection
and priority of the Liens created or intended to be created by the Collateral Documents to the
extent required by the Collateral Documents, all at the expense of the applicable Loan Party.

          (e) If any material assets (including any real property or improvements thereto or any
interest therein) are acquired by any Borrower or any Subsidiary that is a Loan Party after the
Effective Date (other than assets constituting Collateral under any Security Agreement that become
subject to the Lien in favor of the applicable Administrative Agent upon acquisition thereof), the
Borrower Representative will notify the Administrative Agent and the Lenders thereof, and, if
requested by the Administrative Agent or the Required Lenders, the US Loan Parties or the
Netherlands Loan Parties, as applicable, will cause such assets to be subjected to a Lien securing
the Secured Obligations or the Netherlands Secured Obligations, respectively, in accordance with
and subject to the terms of the US Collateral Documents or the Netherlands Collateral Documents, as
applicable, and will take, and cause its Subsidiary Loan Parties to take, such actions as shall be
necessary or reasonably requested by the Administrative Agent to grant and perfect such Liens,
including actions described in paragraph (d) of this Section, all at the expense of the applicable
Loan Party.

          Section 5.15
USA PATRIOT Act.

          The Borrowers shall and shall cause the other Guarantors to promptly, following a request by
the Administrative Agent or any Lender, provide all documentation and other information that the
Administrative Agent or such Lender reasonably requests in order to comply with its ongoing
obligations under applicable “know your customer” and anti-money laundering rules and regulations,
including the USA Patriot Act, (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
(the “Act”).

          Section 5.16 Inactive Subsidiary.

          The Borrowers shall cause the Inactive Subsidiary to be dissolved within thirty (30) days
after the Effective Date.

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          Section 5.17 Post-Closing Deliveries.

     (a) Mortgage Related Deliveries. The Administrative Agent shall have received
(unless, in the sole discretion of the Administrative Agent, the Administrative Agent
waives such requirement), with respect to each parcel of real property (other than the
Non-Mortgaged Properties) owned by a Loan Party, in favor of the Administrative Agent, each
of the following, in form and substance reasonably satisfactory to the Administrative Agent
within forty-five (45) days after the Effective Date (or such later date, if any, that may
be approved by the Administrative Agent in its sole discretion):

          (1) except with respect to any parcel of real property located outside of the
United States, ALTA or other mortgagee’s title policy;

          (2) except with respect to any parcel of real property located outside of the
United States, either (a) an ALTA survey prepared and certified to the
Administrative Agent by a surveyor reasonably acceptable to the Administrative
Agent or (b) a title insurance policy of the type referred to in clause (ii) above
not containing an exception for any matter shown by a survey (except to the extent
an existing survey has been provided and specifically incorporated into such title
insurance policy); and

          (3) an opinion of counsel in the state in which such parcel of real property
is located in form and substance and from counsel reasonably satisfactory to the
Administrative Agent.

     (b) Collateral Access Agreements. The US Loan Parties shall use commercially
reasonable efforts to deliver Collateral Access Agreements with respect to all of their
leased, warehoused and other non-owned facilities located in the United States where
material amounts of Accounts, Inventory or books and records are located within
seventy-five (75) days of the Effective Date.

     (c) Certain Foreign Subsidiary Equity Interests Pledges. The Administrative
Agent shall have received (unless, in the sole discretion of the Administrative Agent, the
Administrative Agent waives such requirement), share pledge agreements governed by the laws
of the Netherlands to secure the Netherlands Secured Obligations as required by Section
5.14(c)(ii), in form and substance reasonably satisfactory to the Administrative Agent,
within thirty (30) days after the Effective Date (or such later date, if any, that may be
approved by the Administrative Agent in its sole discretion).

     (d) Amendments to Limited Liability Company Agreements. The Administrative
Agent shall have received (unless, in the sole discretion of the Administrative Agent, the
Administrative Agent waives such requirement), amendments to the Limited Liability Company
Agreement of each of LGAC LLC and Libbey.com LLC to address technical pledge matters, in
each case, in form and substance reasonably satisfactory to the Administrative Agent,
within thirty (30) days after the Effective Date (or such later date, if any, that may be
approved by the Administrative Agent in is sole discretion).

     (e) Deposit Account Control Agreement. The Administrative Agent shall have
received (unless, in the sole discretion of the Administrative Agent, the Administrative
Agent waives such requirement) a Deposit Account Control Agreement with respect to account
number 722-79294 maintained by US Borrower at Fifth Third Bank in form and substance
reasonably

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satisfactory to the Administrative Agent within thirty (30) days after the Effective
Date (or such later date, if any, that may be approved by the Administrative Agent in is
sole discretion).

ARTICLE VI

Negative Covenants

          Until the Commitments have expired or terminated and the principal of and interest on each
Loan and all fees, expenses and other amounts payable under any Loan Document have been paid in
full and all Letters of Credit have expired or terminated or have been cash-collateralized or
backstopped and all LC Disbursements shall have been reimbursed, the Loan Parties covenant and
agree, jointly and severally, with the Lenders that:

          Section 6.01 Indebtedness. No Loan Party will, nor will it permit any Subsidiary to, create, incur or suffer to exist
any Indebtedness, except:

          (a) the Secured Obligations;

          (b) Indebtedness existing on the date hereof and set forth in Schedule 6.01 and
extensions, renewals and replacements of any such Indebtedness in accordance with clause (f)
hereof;

          (c) Indebtedness constituting loans or advances made to (i) US Borrower or any of its
Wholly-Owned Subsidiaries that are US Loan Parties from (A) US Borrower or any US Subsidiary of US
Borrower (provided that all of any portion of such loans or advances may be restricted by the
Administrative Agent during a US Separate Borrowing Base Period to the extent that the aggregate
outstanding amount of such loan or advances to any US Loan Party exceeded the amount of the US
Borrowing Base attributable to Eligible Accounts and Eligible Inventory of such US Loan Party) or
(B) any Netherlands Loan Party, (ii) a Netherlands Loan Party from any other Netherlands Loan
Party, (iii) any Subsidiary of Holdings that is a Loan Party from any other Subsidiary of Holdings
that is not a Loan Party, (iv) any Subsidiary of Holdings that is not a Loan Party from any other
Subsidiary of Holdings that is not a Loan Party and (v) subject to the restrictions set forth
below, (A) any Subsidiary of Holdings that is not a Loan Party from any Loan Party and (B) any
Netherlands’ Loan Party from any US Loan Party; provided that any Indebtedness permitted
under this clause (c) of any Loan Party shall be subordinated to the Secured Obligations on terms
reasonably satisfactory to the Administrative Agent and any such loans and advances made by a Loan
Party shall be evidenced by a promissory note pledged pursuant to the US Security Agreement or, in
the case of a Netherlands Loan Party, any such loans and advances made are pledged pursuant to the
relevant Netherlands Security Agreement; provided further that the aggregate amount of
outstanding loans and advances permitted pursuant to clause (v) of this clause (c) (together with
the aggregate outstanding amount of investments permitted under Section 6.04(c)(v), the aggregate
outstanding amount of Guarantees permitted under Section 6.01(d)(v) and the aggregate Fair Market
Differential arising from transactions permitted under Section 6.05(b)(iv)) shall not exceed
$10,000,000 at any time outstanding (in each case determined without regard to any write-downs or
write-offs);

          (d) Guarantees (other than with respect to the Senior Notes Obligations) in the ordinary
course of business of Indebtedness or other obligations of (i) US Borrower or any of its
Wholly-Owned Subsidiaries that are US Loan Parties by Holdings, any other US Loan Party or any
Netherlands Loan Party, (ii) a Netherlands Loan Party by any other Netherlands Loan Party, (iii)
any Subsidiary of Holdings that is a Loan Party by any other Subsidiary of Holdings that is not a
Loan Party, (iv) any Subsidiary of Holdings that is not a Loan Party by any other Subsidiary of
Holdings that is not a Loan Party and (v) (A) any Subsidiary of Holdings that is not a Loan Party
by any Loan Party and (B) any Netherlands Loan

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Party by any US Loan Party so long as the
requirements of the second proviso of Section 6.01(c) are complied with in connection with the Guarantees described in this clause (v); provided
that (A) any Guarantees permitted under this clause (d) by any Loan Party shall be subordinated to
the Secured Obligations on terms reasonably satisfactory to the Administrative Agent to the extent
that the Indebtedness or other obligations that are Guaranteed are subordinated to the Secured
Obligations and (B) any Indebtedness so Guaranteed must be permitted by this Section 6.01;

          (e) Indebtedness of any Borrower or any Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets (whether or not constituting purchase
money Indebtedness) by such Borrower or Subsidiary, including Capital Lease Obligations and any
Indebtedness assumed by such Borrower or Subsidiary in connection with the acquisition of any such
assets by such Borrower or Subsidiary or secured by a Lien on any such assets prior to the
acquisition thereof by such Borrower or Subsidiary, and extensions, renewals and replacements of
any such Indebtedness in accordance with clause (f) hereof; provided that (i) such
Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of
such construction or improvement and (ii) the aggregate principal amount of Indebtedness permitted
by this clause (e), along with the aggregate amount of obligations of the Loan Parties and their
Subsidiaries pursuant to transactions permitted by Section 6.06(a), shall not exceed $5,000,000 at
any time outstanding;

          (f) Indebtedness which represents an extension, refinancing, or renewal of any of the
Indebtedness described in clauses (b) and (e) hereof; provided that, (i) the
principal amount (other than by an amount equal to accrued interest, premium and fees and expenses
paid in connection with such refinancing) or interest rate of such Indebtedness is not increased,
(ii) any Liens securing such Indebtedness are not extended to any additional property of any Loan
Party, (iii) no Loan Party that is not originally obligated with respect to repayment of such
Indebtedness is required to become obligated with respect thereto, (iv) such extension, refinancing
or renewal does not result in a shortening of the average weighted maturity of the Indebtedness so
extended, refinanced or renewed, (v) the terms of any such extension, refinancing, or renewal are
not less favorable to the obligor taken as a whole thereunder than the original terms of such
Indebtedness and (iv) if the Indebtedness that is refinanced, renewed, or extended was subordinated
in right of payment to the Secured Obligations or to the Liens securing the Secured Obligations,
then the terms and conditions of the refinancing, renewal, or extension Indebtedness must include
subordination terms and conditions that are at least as favorable to the Administrative Agent and
the Lenders as those that were applicable to the refinanced, renewed, or extended Indebtedness;

          (g) Indebtedness of any Loan Party or any Subsidiary owed to any person providing workers’
compensation, health, disability or other employee benefits or property, casualty or liability
insurance to such Loan Party or Subsidiary, pursuant to reimbursement or indemnification
obligations to such person, in each case incurred in the ordinary course of business;

          (h) Indebtedness of any Loan Party or any Subsidiary in respect of performance bonds, bid
bonds, appeal bonds, surety bonds, completion guarantees, warranties, indemnities and similar
obligations of such Loan Party or Subsidiary, in each case provided in the ordinary course of
business;

          (i) Indebtedness of any Person that becomes a Subsidiary after the date hereof;
provided that (i) such Indebtedness exists at the time such Person becomes a Subsidiary and
is not created in contemplation of or in connection with such Person becoming a Subsidiary and (ii)
the aggregate principal amount of Indebtedness permitted by this clause (i) shall not exceed
$2,500,000 at any time outstanding;

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          (j) other unsecured Indebtedness in an aggregate principal amount not exceeding $5,000,000 at
any time outstanding owing to Persons that are not Affiliates of any Loan Party or any Subsidiary
thereof;

          (k) Indebtedness of US Borrower in respect of the Senior Notes Obligations (and any related
Guarantees by the US Loan Parties, so long as such US Loan Parties Guarantee all of the Secured
Obligations) in an aggregate principal amount not exceeding $400,000,000 (less the amount of any
principal payments made thereon from time to time) at any one time outstanding (except as expressly
permitted in this clause (k), no Loan Party or any of its Subsidiaries shall Guarantee any of the
Senior Notes Obligations), and Refinancing Senior Note Indebtedness resulting from a refinance of
such Indebtedness;

          (l) any Swap Agreements permitted under Section 6.07;

          (m) Indebtedness arising from agreements providing for customary indemnification, adjustment
of purchase price or similar obligations incurred or assumed in connection with any dispositions
permitted hereunder;

          (n) Indebtedness represented by earnout provisions in acquisition agreements in connection
with any acquisitions permitted hereunder;

          (o) Indebtedness arising from the honoring by a bank or other financial institution of a
check, draft or similar instrument (except in the case of daylight overdrafts) drawn against
insufficient funds in the ordinary course of business, provided, however, that such
Indebtedness is extinguished within five business days of incurrence;

          (p) Indebtedness incurred by any Foreign Subsidiaries that are not Subsidiary Guarantors (and
any related Guarantees by Holdings of such Indebtedness) in an aggregate principal amount not to
exceed $35,000,000 at any time outstanding;

          (q) Indebtedness of Libbey Glassware (China) Co., Ltd. or another Subsidiary organized under
the laws of the People’s Republic of China incurred after the Effective Date in an aggregate
principal amount not to exceed the equivalent of 340,000,000 China Yuan Renminbi at any time
outstanding (and any related Guarantees by Holdings of such Indebtedness), so long as all of the
proceeds of such Indebtedness are used solely by such Subsidiary to expand such Subsidiary’s
manufacturing production capabilities in China;

          (r) Indebtedness of Holdings permitted by Section 6.04(q);

          (s) loans and advances made by US Loan Parties to the Netherlands Borrower so long as (i) all
of the proceeds of such loans and advances are used substantially concurrently with the receipt
thereof by the Netherlands Borrower to repay Loans made to the Netherlands Borrower, (ii) the
aggregate outstanding amount of such loans and advances, plus the aggregate outstanding
amount of Investments described in Section 6.04(l), plus the aggregate amount of the Credit
Exposures of all Lenders to the Netherlands Borrower does not at any time (after giving effect to
the repayment set forth in clause (i) above) exceed the Libbey Europe Sublimit, and (iii)
the Borrower Representative shall give the Administrative Agent prior notice before any such loans
or advances are made;

          (t) Attributable Indebtedness related to sale and leaseback transactions permitted pursuant to
Section 6.06; and

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          (u) Indebtedness constituting loans or advances by Holdings or any Subsidiary of Holdings to
another Subsidiary of Holdings in a cashless transaction arising solely from the conversion of
equity in such Subsidiary to Indebtedness or any return of capital in the form of Indebtedness, in
each case so long as no such loans or advances are owing by (i) a US Loan Party to any Person that
is not a US
Loan Party, (ii) a Netherlands Loan Party to any Person that is not a Netherlands Loan Party
or a US Loan Party or (iii) any Subsidiary of Holdings to Holdings.

Notwithstanding the foregoing, in no event will any Loan Party, or will any Loan Party permit any
Subsidiary to, create, incur or suffer to exist any Indebtedness or other obligations (other than
the Secured Obligations) that is designated as an “ABL Loan Agreement”.

          Section 6.02 Liens. No Loan Party will, nor will it permit any Subsidiary to, create, incur, assume or permit
to exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell
any income or revenues (including accounts receivable) or rights in respect of any thereof, except:

          (a) Liens created pursuant to any Loan Document securing the Secured Obligations;

          (b) Permitted Encumbrances;

          (c) any Lien on any property or asset of any Borrower or any Subsidiary existing on the date
hereof and set forth in Schedule 6.02; provided that (i) such Lien shall not apply
to any other property or asset of such Borrower or Subsidiary and (ii) such Lien shall secure only
those obligations which it secures on the date hereof and extensions, renewals and replacements
thereof that do not increase the outstanding principal amount thereof;

          (d) Liens on fixed or capital assets and proceeds thereof acquired, constructed or improved by
any Borrower or any Subsidiary; provided that (i) such security interests shall only secure
Indebtedness permitted by clause (e) of Section 6.01, and (ii) such security interests and the
Indebtedness secured thereby are incurred prior to or within 90 days after such acquisition or the
completion of such construction or improvement, and such security interests shall not apply to any
other property or assets of such Borrower or Subsidiary or any other Borrower or Subsidiary;

          (e) any Lien existing on any property or asset prior to the acquisition thereof by any
Borrower or any Subsidiary or existing on any property or asset of any Person that becomes a Loan
Party or Subsidiary of any Loan Party after the date hereof prior to the time such Person becomes a
Loan Party of Subsidiary; provided that (i) such Lien is not created in contemplation of or
in connection with such acquisition or such Person becoming a Loan Party or Subsidiary, as the case
may be, (ii) such Lien shall not apply to any other property or assets of the Loan Party or any
Subsidiary and (iii) such Lien shall secure only those obligations which it secures on the date of
such acquisition or the date such Person becomes a Loan Party of Subsidiary, as the case may be and
extensions, renewals and replacements thereof that do not increase the outstanding principal amount
thereof;

          (f) Liens of a collecting bank arising in the ordinary course of business under Section 4-208
of the Uniform Commercial Code in effect in the relevant jurisdiction covering only the items being
collected upon;

          (g) Liens arising out of sale and leaseback transactions permitted by Section 6.06 on the
assets so sold and leased back;

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          (h) Liens granted by a Subsidiary that is not a Loan Party in favor of any Borrower or another
Loan Party in respect of Indebtedness owed by such Subsidiary;

          (i) Liens on assets of Foreign Subsidiaries (that are not Subsidiary Guarantors or Borrowers)
securing Indebtedness permitted by Section 6.01(p) and Liens on assets of Libbey Glassware
(China) Co., Ltd. or another Subsidiary organized under the laws of the People’s Republic of
China securing Indebtedness permitted by 6.01(q) hereof;

          (j) Liens on assets of Holdings and the US Borrower (and on the assets of the other US Loan
Parties, so long as such other US Loan Parties have Guaranteed all of the Secured Obligations and
have granted Liens on all of such assets to the Administrative Agent, for the benefit of the
Administrative Agent and the Lenders, to secure all of the Secured Obligations) securing the Senior
Notes Obligations permitted by Section 6.01(k), in each case to the extent such Liens are permitted
by the Intercreditor Agreement; provided that the Administrative Agent has a first priority
Lien (or second priority Lien, junior only to the Lien of the holders of such Senior Notes
Obligations, with respect to the Senior Notes Priority Collateral to the extent provided in the
Intercreditor Agreement) on such assets pursuant to the Collateral Documents (except as expressly
permitted in this clause (j), the Senior Notes Obligations shall not be secured by any Lien on any
asset of any Loan Party or any of its Subsidiaries);

          (k) Liens in favor of the PBGC so long as such Liens (i) are only on the real property and
fixtures located at 940 Ash Street, Toledo, Ohio, and 4302 Jewella, Shreveport, Louisiana, (ii)
secure only the obligations of the Loan Parties under the existing Syracuse China Company Salaried
Cash Balance Pension Plan and/or the existing Syracuse China Company Union Pension Plan, and (iii)
are junior in priority to all of the Liens securing the Secured Obligations and the Senior Notes
Obligations and are subject to a subordination agreement in form and substance acceptable to the
Agent; and

          (l) Liens securing other obligations in an aggregate principal amount outstanding at any one
time not to exceed $2,500,000.

          Section 6.03 Fundamental Changes.

          (a) No Loan Party will, nor will it permit any Subsidiary to, merge into or consolidate with
any other Person, or permit any other Person to merge into or consolidate with it, or liquidate or
dissolve, except that, if at the time thereof and immediately after giving effect thereto no Event
of Default shall have occurred and be continuing (i) any Subsidiary of any Borrower may merge,
consolidate, liquidate or dissolve into a Borrower in a transaction in which the Borrower is the
surviving corporation, (ii) any Loan Party (other than a Borrower) may merge, consolidate,
liquidate or dissolve into any Loan Party in a transaction in which the surviving entity is a Loan
Party and (iii) any Subsidiary that is not a Loan Party may merge, consolidate, liquidate or
dissolve into a Loan Party or another Subsidiary which is not a Loan Party or liquidate or dissolve
if the Borrower which owns such Subsidiary determines in good faith that such liquidation or
dissolution is in the best interests of such Borrower and is not materially disadvantageous to the
Lenders; provided that any such merger involving a Person that is not a Wholly-Owned
Subsidiary immediately prior to such merger shall not be permitted unless also permitted by Section
6.04.

          (b) No Loan Party will, nor will it permit any of its Subsidiaries to, engage to any material
extent in any business other than businesses of the type conducted by the Borrowers and their
Subsidiaries on the date of execution of this Agreement and businesses reasonably related thereto
and reasonable extensions thereof.

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          (c) Holdings will not engage in any business or activity other than the ownership of all the
outstanding shares of capital stock of the Borrowers, Subsidiaries of the Borrowers and activities
incidental thereto, including, without limitation, employee stock options and responsibilities of a
public company. Holdings will not own or acquire any assets (other than Equity Interests of the
Borrowers and the cash proceeds of any Restricted Payments permitted by Section 6.08 or loans
permitted by Section 6.04) or incur any liabilities (other than liabilities under the Loan
Documents and liabilities reasonably
incurred in connection with its maintenance of its existence and Guarantees and other
Indebtedness permitted under Section 6.01, including, without limitation, liabilities and liens
granted with respect to the Senior Notes Indenture and liabilities with respect to Indebtedness
permitted hereunder of Libbey Glassware (China) Co. Ltd) or another Subsidiary organized under the
laws of the People’s Republic of China.

          Section 6.04 Investments, Loans, Advances, Guarantees and Acquisitions. No Loan Party will, nor will it permit any Subsidiary to, purchase, hold or acquire
(including pursuant to any merger with any Person that was not a Loan Party and a Wholly-Owned
Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities
(including any option, warrant or other right to acquire any of the foregoing) of, make or permit
to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any
investment or any other interest in, any other Person, or purchase or otherwise acquire (in one
transaction or a series of transactions) any assets of any other Person constituting a business
unit (whether through purchase of assets, merger or otherwise), except:

          (a) Permitted Investments which, unless held in Non-Restricted Deposit Accounts, are subject
to control agreements in favor of the Administrative Agent for the benefit of the Lenders or
otherwise subject to a perfected security interest in favor of the Administrative Agent for the
benefit of the Lenders;

          (b) investments in existence on the date of this Agreement and described in Schedule
6.04;

          (c) investments in Equity Interests of (i) the US Borrowers by Holdings, (ii) US Borrower or
any of its Wholly-Owned Subsidiaries that are US Loan Parties by US Borrower or any other US Loan
Party (provided that all of any portion of such investments may be restricted by the Administrative
Agent during a US Separate Borrowing Base Period), (iii) Netherlands Loan Parties by another
Netherland Loan Party, (iv) any Subsidiary that is not a Loan Party by any other Subsidiary that is
not a Loan Party and (v) (A) any Subsidiary of Borrower that is not a Loan Party by any Loan Party
or (B) any Netherlands Loan Party by any US Loan Party so long as the requirements of the second
proviso of Section 6.01(c) are complied with in connection with the investments described in this
clause (v), provided that any such Equity Interests held by a Loan Party shall be pledged
pursuant to the respective Security Agreement (subject to the limitations applicable to common
stock of a Foreign Subsidiary referred to in Section 5.14);

          (d) loans or advances made by Holdings or a Borrower to any Subsidiary and made by any
Subsidiary to any Borrower or any other Subsidiary to the extent expressly permitted by Section
6.01(c), (s) or (u);

          (e) Guarantees expressly permitted by Section 6.01;

          (f) loans or advances made by a Loan Party to its employees on an arms-length basis in the
ordinary course of business consistent with past practices for travel and entertainment expenses,
relocation costs and similar purposes up to a maximum of $5,000,000 in the aggregate at any one
time outstanding;

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          (g) subject to Sections 4.2(a) and 4.4 of the Security Agreement, notes payable, or stock or
other securities issued by Account Debtors to a Loan Party pursuant to negotiated agreements with
respect to settlement of such Account Debtor’s Accounts in the ordinary course of business,
consistent with past practices;

          (h) investments in the form of Swap Agreements permitted by Section 6.07;

          (i) investments of any Person existing at the time such Person becomes a Subsidiary of a
Borrower or consolidates or merges with a Borrower or any of the Subsidiaries (including in
connection with a Permitted Acquisition) so long as such investments were not made in contemplation
of such Person becoming a Subsidiary or of such consolidation or merger;

          (j) investments received in connection with the dispositions of assets permitted by Section
6.05;

          (k) Investments constituting deposits described in clauses (c) and (d) of the definition of
the term “Permitted Encumbrances;”

          (l) equity Investments made by US Loan Parties in the Netherlands Borrower (or in another
Netherlands Loan Party that is the parent company of the Netherlands Borrower, so long as such
Netherlands Loan Party immediately contributes all of the proceeds of such Investment to the
Netherlands Borrower) so long as (i) all of the proceeds of such Investments are used substantially
concurrently with the receipt thereof by the Netherlands Borrower to repay Loans made to the
Netherlands Borrower, (ii) the aggregate outstanding amount of such Investment, plus the
aggregate outstanding amount of outstanding loans and advances described in Section 6.01(s),
plus the aggregate amount of the Credit Exposures of all Lenders to the Netherlands
Borrower does not at any time (after giving effect to the repayment set forth in clause (i) above)
exceed the Libbey Europe Sublimit, and (iii) the Borrower Representative shall give the
Administrative Agent prior notice before any such Investments are made;

          (m) equity Investments by Holdings or any Subsidiary of Holdings to another Subsidiary of
Holdings in a cashless transaction arising from the conversion of Indebtedness or other advances in
such Subsidiary to equity, in each case so long as no such Investments result in payments (or any
obligations to make any payments) in cash or other amounts by (i) a US Loan Party to any Person
that is not a US Loan Party, (ii) a Netherlands Loan Party to any Person that is not a Netherlands
Loan Party or a US Loan Party or (iii) any Subsidiary of Holdings to Holdings;

          (n) loans or advances to employees of Holdings and its Subsidiaries, all of the proceeds of
which are used concurrently therewith to purchase Capital Stock issued by Holdings from Holdings;

          (o) other Investments in an aggregate amount not to exceed $2,500,000 during any fiscal year
of Holdings net of any return on such Investments received in cash by the Loan Parties;

          (p) Investments consisting of licensing of intellectual property pursuant to joint marketing
arrangements with other Persons;

          (q) loans to Holdings for the purpose of (i) funding any Restricted Payment permitted by
Section 6.08, (ii) paying any federal, state or local income Taxes to the extent that such income
Taxes are directly attributable to the income of the US Borrower and its Subsidiaries, (iii) paying
franchise Taxes and other fees to maintain its legal existence, or (iv) paying corporate overhead
expenses of Holdings including financing transactions that benefit the US Borrower and its
Subsidiaries and to pay salaries or other compensation of employees who perform services for both
Holdings and the US Borrower;

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          (r) Permitted Acquisitions; and

          (s) Investments of the US Borrower directly or indirectly through a Wholly-Owned Subsidiary of
the US Borrower arising from the conversion by the US Borrower of up to $20,000,000 of
intercompany payables owing as of the Effective Date from a Subsidiary of US Borrower
organized under the laws of the People’s Republic of China to the US Borrower into equity of such
China Subsidiary.

          Section 6.05 Asset Sales. No Loan Party will, nor will it permit any Subsidiary to, sell, transfer, lease or
otherwise dispose of any asset, including any Equity Interest owned by it, nor will any Borrower
permit any Subsidiary to issue any additional Equity Interest in such Subsidiary (other than to
another Borrower or another Subsidiary in compliance with Section 6.04), except:

          (a) sales, transfers and dispositions of (i) inventory in the ordinary course of business and
(ii) used, obsolete, worn out or surplus equipment or property in the ordinary course of business;

          (b) sales, transfers and dispositions solely among (i) the US Borrower and any of its
Wholly-Owned Subsidiaries that are US Loan Parties (provided that all of any portion of such
investments may be restricted by the Administrative Agent during a US Separate Borrowing Base
Period), (ii) the Netherlands Borrower and any of its Wholly-Owned Subsidiaries that are
Netherlands Loan Parties, (iii) any Subsidiaries of the Borrowers that are not Loan Parties and
(iv) the Borrowers and their Subsidiaries so long as the requirements of the second proviso of
Section 6.01(c) are complied with in connection with the sales, transfers and dispositions
described in this clause (iv);

          (c) sales, transfers and dispositions of accounts receivable in connection with the
compromise, settlement or collection thereof in the ordinary course of business;

          (d) sales, transfers and dispositions of investments permitted by clause (k) of Section 6.04;

          (e) sale and leaseback transactions permitted by Section 6.06;

          (f) dispositions resulting from any casualty or other insured damage to, or any taking under
power of eminent domain or by condemnation or similar proceeding of, any property or asset of any
Borrower or any Subsidiary;

          (g) sales, transfers and other dispositions of assets (other than Equity Interests in a
Subsidiary unless all Equity Interests in such Subsidiary are sold) that are not permitted by any
other paragraph of this Section, provided that the aggregate fair market value of all
assets sold, transferred or otherwise disposed of in reliance upon this paragraph (g) shall not
exceed $4,000,000 during any fiscal year of Holdings;

          (h) the Specified Sale;

          (i) Restricted Payments permitted by Section 6.08 hereof;

          (j) non-exclusive licensing or sublicensing of Intellectual Property in the ordinary course of
business, provided, that no such license or sublicense may be granted that would reasonably
be expected to constitute an abandonment of any Loan Party’s or any Subsidiary’s trade name or
trade marks or other similar Intellectual Property if such abandonment would materially interfere
with the business of Holdings and its Subsidiaries;

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          (k) leases or subleases of property in the ordinary course of business that does not
materially interfere with the conduct of the business of Holdings or its Subsidiaries; and

          (l) the sale, transfer or other disposition of the land, building and fixtures owned by
Syracuse China Company and located at 2900 Court Street, Salina, Onondaga County, New York (the
“Syracuse Property”);

          (m) dispositions deemed to occur pursuant to Section 6.01(u), 6.04(m) and 6.04(s); and

          (n) the lease, exchange, transfer or disposition of certain real property located on the
industrial site of Leerdam, Lingedijk 8, 4142 LD, and certain other assets related thereto located
on such site, in each case owned by the Netherlands Loan Parties to the extent such lease,
exchange, transfer or other disposition is made in accordance with (and solely pursuant to) Section
5.7 of that certain Stock Purchase Agreement between BSN Glasspack N.V. and the Saxophone B.V.
(which has been subsequently merged into the Netherlands Borrower) dated as of December 31, 2002
(without giving effect to any amendments or modifications thereto).

provided that all sales, transfers, leases and other dispositions permitted by clauses (d),
(g), (h), (j), (k) and (l) shall be made for fair value and for at least 75% cash consideration.

          Section 6.06 Sale and Leaseback Transactions. No Loan Party will, nor will it permit any Subsidiary to, enter into any arrangement,
directly or indirectly, whereby it shall sell or transfer any property, real or personal, used or
useful 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, except,

          (a) subject to the limitations of Section 6.01(e), for any such sale of any fixed or capital
assets by any Borrower or any Subsidiary that is made for cash consideration in an amount not less
than the fair value of such fixed or capital assets and is consummated either within 90 days after
such Borrower or such Subsidiary acquires or completes the construction of such fixed or capital
assets or in connection with a disposition permitted hereunder;

          (b) for any such sale by the US Borrower of any of such Person’s fixed or capital
assets located on the following premises of such Person: 1600 Justo Penn Road, Laredo, Texas, that
is made for cash consideration in an amount not less than the fair value of such fixed or capital
assets and made on terms and conditions that are reasonably acceptable to the Administrative Agent
(as indicated by a written consent of the Administrative Agent); and

          (c) for any such sale by any Subsidiary organized under the laws of Mexico of fixed
or capital assets located on the following premises of such Person: Plant M, Jose Maria Vigil No.
400, Colonia del Norte, Monterrey, Nuevo Leon, Mexico 64500, that is made for cash consideration in
an amount not less than the fair value of such fixed or capital assets and made on terms and
conditions that are reasonably acceptable to the Administrative Agent (as indicated by a written
consent of the Administrative Agent).

          Section 6.07 Swap Agreements. No Loan Party will, nor will it permit any Subsidiary to, enter into any Swap Agreement,
except (a) Swap Agreements entered into in the ordinary course of business to hedge or mitigate
risks, including without limitation risks associated with fluctuations in values of currencies or
commodities, to which any Borrower or any Subsidiary has actual exposure (other than those in
respect of Equity Interests of any Borrower or any of its Subsidiaries), (b) Swap Agreements
entered into in the ordinary course of business in order to effectively cap, collar or

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exchange
interest rates (from fixed to floating rates, from one floating rate to another floating rate or
otherwise) with respect to any interest-bearing liability or investment of any Borrower or any
Subsidiary
and (c) Swap Agreements entered into in the ordinary course of business in order to
effectively cap, collar or exchange rates with respect to the Obligations.

          Section 6.08 Restricted Payments; Certain Payments of Indebtedness.

          (a) No Loan Party will, nor will it permit any Subsidiary to, declare or make, or agree to pay
or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or
otherwise) to do so, except, individually and cumulatively, (i) each of Holdings and each Borrower
may declare and pay dividends with respect to its common stock payable solely in additional shares
of its common stock, and, with respect to its preferred stock, payable solely in additional shares
of such preferred stock or in shares of its common stock, (ii) each Subsidiary of Holdings
(including the Netherlands Borrower) may declare and pay dividends ratably with respect to their
Equity Interests, (iii) unless a Restriction Period is in existence, each Loan Party may make
Restricted Payments, not exceeding $2,000,000 in the aggregate with regard to all such Loan Parties
during any fiscal year of Holdings, pursuant to and in accordance with stock option plans or other
benefit plans for management or employees of such Loan Party and its Subsidiaries, (iv) the
Borrowers may make Restricted Payments to Holdings for purposes of paying any federal, state or
local income Taxes to the extent that such income Taxes are directly attributable to the income of
the US Borrower and its Subsidiaries, paying franchise Taxes and other fees to maintain its legal
existence, and paying corporate overhead expenses of Holdings including financing transactions that
benefit the US Borrower and its Subsidiaries and to pay salaries or other compensation of employees
who perform services for both Holdings and the US Borrower, (v) unless a Restriction Period is in
existence, the Borrowers and Holdings may make Restricted Payments from time to time in an
aggregate amount not to exceed $5,000,000 during any fiscal year of Holdings; and (vi) unless a
Restriction Period is in existence, Borrower and Holdings may make Restricted Payments from time to
time in an aggregate amount not to exceed the lesser of (x) $0.20 per outstanding share of Holdings
or (y) $4,000,000 in each fiscal year.

          (b) No Loan Party will, nor will it permit any Subsidiary to, make or agree to pay or 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 Indebtedness, or any
payment or other distribution (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 Subordinated Indebtedness, except:

          (i) payment of regularly scheduled interest and principal payments as and when due in respect
of any Subordinated Indebtedness, other than payments in respect of the Subordinated Indebtedness
prohibited by the subordination provisions thereof; and

          (ii) refinancings of Subordinated Indebtedness to the extent permitted by Section 6.01.

          Section 6.09 Transactions with Affiliates. No Loan Party will, nor will it permit any Subsidiary to, sell, lease or otherwise transfer
any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or
otherwise engage in any other transactions with, any of its Affiliates, except (a) transactions
that (i) are in the ordinary course of business and (ii) are at prices and on terms and conditions
not less favorable to such Loan Party or such Subsidiary than could be obtained on an arm’s-length
basis from unrelated third parties, (b) solely to the extent such transactions are expressly
permitted under this Agreement, transactions between or among any Borrower and any Subsidiary that
is a Loan Party not involving any other Affiliate, (c) any investment permitted by

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Section 6.04(b),
(c), (d), (e), (i)or (q), (d) any Indebtedness permitted under Section 6.01(b), (c), (d), (s) or
(u), (e) any Restricted Payment permitted by
Section 6.08, (f) loans or advances to employees
permitted under
Section 6.04(f) and (n), (g) the payment of reasonable fees to directors of any Borrower or
any Subsidiary who are not employees of such Borrower or Subsidiary, and compensation and employee
benefit arrangements paid to, and indemnities provided for the benefit of, directors, officers or
employees of the Borrowers or their Subsidiaries in the ordinary course of business, (h) any
issuances of securities or other payments, awards or grants in cash, securities or otherwise
pursuant to, or the funding of, employment agreements, stock options and stock ownership plans
approved by a Borrower’s board of directors, (i) transactions between or among Subsidiaries that
are not Loan Parties and (j) sales, transfers and dispositions permitted by Section 6.05(b).

          Section 6.10 Restrictive Agreements. No Loan Party will, nor will it permit any Subsidiary to, directly or indirectly, enter
into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or
imposes any condition upon (a) the ability of such Loan Party or any of its Subsidiaries to create,
incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any
Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock
or to make or repay loans or advances to any Borrower or any other Subsidiary or to Guarantee
Indebtedness of any Borrower or any other Subsidiary; provided that (i) the foregoing shall
not apply to restrictions and conditions imposed by law or by any Loan Document, (ii) the foregoing
shall not apply to restrictions and conditions existing on the date hereof identified on
Schedule 6.10 (but shall apply to any extension or renewal of, or any amendment or
modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall
not apply to customary restrictions and conditions contained in agreements relating to the sale of
a Subsidiary pending such sale, provided such restrictions and conditions apply only to the
Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause (a) of the
foregoing shall not apply to restrictions or conditions imposed by any agreement relating to
secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to
the property or assets securing such Indebtedness, (v) clause (a) of the foregoing shall not apply
to customary provisions in leases and other contracts restricting the assignment thereof and (vi)
the foregoing shall not apply to any restrictions or conditions imposed by any agreement relating
to Indebtedness permitted by Section 6.01(k), or, to the extent such restrictions relate only to
Subsidiaries that are not Loan Parties, Section 6.01(p) or (q) hereof.

          Section 6.11 Amendment of Material Documents. No Loan Party will, nor will it permit any Subsidiary to, amend, modify or waive (a) any of
its rights under any agreement relating to any Subordinated Indebtedness, or (b) its certificate of
incorporation, by-laws, operating, management or partnership agreement or other organizational
documents to the extent any such amendment, modification or waiver would be materially adverse to
the Lenders

          Section 6.12 Optional Payments and Modifications of Certain Debt Instruments. Notwithstanding Sections 6.08(b) and 6.11, no Loan Party will (a) make any optional or voluntary
payment, prepayment, repurchase or redemption of or otherwise optionally or voluntarily defease or
segregate funds with respect to the Senior Notes Obligations or take any action to effect any of
the foregoing; provided, however, that (i) so long as no Event of Default is in
existence or would be caused thereby, the US Borrower shall be permitted to redeem or prepay the
Senior Notes Obligations solely with the cash proceeds it receives substantially concurrently with
such redemption or prepayment from a public offering of Holdings’ common stock to the extent
permitted under Section 4 of the Senior Notes Indenture with the Net Cash Proceeds (as defined in
the Senior Notes Indenture) of one or more Equity Offerings (as defined in the Senior Notes
Indenture) and (ii) the US Borrower shall be permitted to redeem or prepay the Senior Notes
Obligations so long as, both before and after giving effect to any such redemption or prepayment,
the Aggregate Availability (without giving effect to the Availability Block) exceeds $45,000,000
and no Event of Default is in existence, (b) amend, modify, waive or otherwise

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change, or consent
or agree to any amendment, modification, waiver or other change to, any of the terms
of the Senior Notes, the Senior Notes Indenture or any other material agreement relating to any
thereof (other than any such amendment, modification, waiver or other change that (A) (i) would
extend the maturity or reduce the amount of any payment of principal of the Senior Notes or reduce
the rate or extend any date for payment of interest thereon, (ii) would add additional guarantors
as contemplated therein as of the Effective Date and permitted hereunder, or (iii) would have the
sole purpose of making a covenant contained in the Senior Notes Indenture less restrictive than the
corresponding covenant contained herein (in each such case with respect to this clause (A), so long
as such amendment, modification, waiver or other change does not involve the payment of a consent
fee) or (B) is done solely to consummate a Refinancing Senior Note Indebtedness permitted by
Section 6.01(k).

          Section 6.13 Changes in Fiscal Periods. Neither Holdings nor any other Loan Party will, nor will it permit any Subsidiary to,
permit its fiscal year to end on a day other than the last calendar day of each December or change
its method of determining fiscal quarters.

ARTICLE VII

Events of Default

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

          (a) any Borrower shall fail to pay any principal of any Loan or any reimbursement obligation
in respect of any LC Disbursement when and as the same shall become due and payable, whether at the
due date thereof or at a date fixed for prepayment thereof or otherwise;

          (b) any Borrower shall fail to pay any interest on any Loan or any fee or any other amount
(other than an amount referred to in clause (a) of this Article) payable under this Agreement, when
and as the same shall become due and payable, and such failure shall continue unremedied for a
period of three Business Days;

          (c) any representation or warranty made or deemed made by or on behalf of any Loan Party or
any Subsidiary in or in connection with this Agreement or any Loan Document or any amendment or
modification thereof or waiver thereunder, or in any report, certificate, financial statement or
other document furnished pursuant to or in connection with this Agreement or any Loan Document or
any amendment or modification thereof or waiver thereunder, shall prove to have been materially
incorrect when made or deemed made;

          (d) any Loan Party shall fail to observe or perform any covenant, condition or agreement
contained in (i) Section 5.02(a), 5.03 (with respect to a Loan Party’s existence) or 5.08 or in
Article VI of this Agreement or (ii) Section 4.1(d), (e), 4.6(b) or 4.15 of the US Security
Agreement;

          (e) any Loan Party shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement or any other Loan Document (other than those which constitute a default
under another Section of this Article), and such failure shall continue unremedied for a period of
(i) 10 days after the earlier of any Loan Party’s knowledge of such breach or notice thereof from
the Administrative Agent (which notice will be given at the request of any Lender) if such breach
relates to terms or provisions of (A) Section 5.01, 5.02 (other than Section 5.02(a)), 5.06, 5.09,
5.12 or 5.17 of this Agreement or (B) Section 4.1(a) or 4.12 of the US Security Agreement or (ii)
30 days after the earlier of any Loan Party’s knowledge of such breach or notice thereof from the
Administrative Agent (which notice will be given at the request of any Lender) if such breach
relates to terms or provisions of any other Section of this Agreement or any other Loan Document;

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          (f) any Loan Party or any Subsidiary shall fail to make any payment (whether of principal or
interest and regardless of amount) in respect of any Material Indebtedness, when and as the same
shall become due and payable and such failure shall continue beyond the applicable period of grace,
if any, provided in the instrument or agreement under which such Indebtedness was created;

          (g) any payment default or other breach of an agreement (after giving effect to any express
grace periods, if any, set forth in such agreement) that results in any Material Indebtedness
becoming due prior to its scheduled maturity or that enables or permits the holder or holders of
any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material
Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance
thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to secured
Indebtedness of a Subsidiary that is not a Loan Party (and so long as such Indebtedness is not
Guaranteed by any Loan Party other than Holdings) that becomes due as a result of the voluntary
sale, transfer, or disposition of the property or assets securing such Indebtedness so long as all
of the Indebtedness owing to the holder of such Indebtedness has been paid in Full;

          (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, reorganization or other relief in respect of a Loan Party or any
Subsidiary of any Loan Party of its debts, or of a substantial part of its assets, under any
Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or
similar official for any Loan Party or any Subsidiary of any Loan Party or for a substantial part
of its assets, and in any such case, such proceeding or petition shall continue undismissed for 60
days or an order or decree approving or ordering any of the foregoing shall be entered;

          (i) any Loan Party or any Subsidiary of any Loan Party shall (i) voluntarily commence any
proceeding or file any petition seeking liquidation, reorganization or other relief under any
Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in
effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner,
any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to
the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official
for such Loan Party or Subsidiary of any Loan Party or for a substantial part of its assets, (iv)
file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for
the purpose of effecting any of the foregoing;

          (j) any Loan Party or any Subsidiary of any Loan Party shall admit in writing its inability to
pay its debts as they become due;

          (k) one or more judgments for the payment of money in an aggregate amount in excess of
$5,000,000 shall be rendered against any Loan Party, any Subsidiary of any Loan Party or any
combination thereof to the extent not covered by insurance or indemnity for which the insurance
company or indemnitor has not disputed coverage and the same shall remain undischarged for a period
of 30 consecutive days during which execution shall not be effectively stayed, or any action shall
be legally taken by a judgment creditor to attach or levy upon any assets of any Loan Party or any
Subsidiary of any Loan Party with a value in excess of $5,000,000 to enforce any such judgment or
any Loan Party or any Subsidiary of any Loan Party shall fail within 30 days to discharge one or
more non-monetary judgments or orders which, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect, which judgments or orders, in any such case, are not
stayed on appeal or otherwise being appropriately contested in good faith by proper proceedings
diligently pursued;

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          (l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when
taken together with all other ERISA Events that have occurred, could reasonably be expected to
result in a Material Adverse Effect;

          (m) a Change in Control shall occur;

          (n) the Loan Guaranty shall fail to remain in full force or effect or any action shall be
taken by a Loan Party to discontinue or to assert the invalidity or unenforceability of the Loan
Guaranty, or any Loan Guarantor shall deny in writing that it has any further liability under the
Loan Guaranty to which it is a party, or shall give written notice to such effect
(provided, that any merger, sale, consolidation or liquidation permitted hereunder shall
not constitute an Event of Default under this paragraph (n));

          (o) any Collateral Document shall for any reason fail to create a valid and perfected first
priority security interest in any Collateral (or second priority security interest, subject in
priority only to the security interests securing the Senior Notes Obligations permitted hereunder,
with respect to the Senior Notes Priority Collateral to the extent provided in the Intercreditor
Agreement) purported to be covered thereby, except as permitted by the terms of any Collateral
Document, or any Collateral Document shall fail to remain in full force or effect or any action
shall be taken by a Loan Party to discontinue or to assert the invalidity or unenforceability of
any Collateral Document; or

          (p) any material provision of any Loan Document for any reason ceases to be valid, binding and
enforceable in accordance with its terms (or any Loan Party shall challenge the enforceability of
any Loan Document or shall assert in writing, or engage in any action or inaction based on any such
assertion, that any provision of any of the Loan Documents has ceased to be or otherwise is not
valid, binding and enforceable in accordance with its terms);

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

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ARTICLE VIII

The Administrative Agent

          Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent
as its agent and authorizes the Administrative Agent to take such actions on its behalf, including
execution of the other Loan Documents, and to exercise such powers as are delegated to the
Administrative Agent by the terms of the Loan Documents, together with such actions and powers as
are reasonably incidental thereto.

          The bank serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and
generally engage in any kind of business with the Loan Parties or any Subsidiary of a Loan Party or
other Affiliate thereof as if it were not the Administrative Agent hereunder.

          The Administrative Agent shall not have any duties or obligations except those expressly set
forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the
Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any
duty to take any discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is
required to exercise in writing as directed by the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section
9.02), and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall
not have any duty to disclose, and shall not be liable for the failure to disclose, any information
relating to any Loan Party or any of its Subsidiaries that is communicated to or obtained by the
bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative
Agent shall not be liable for any action taken or not taken by it with the consent or at the
request of the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 9.02) or in the absence of its own gross
negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge
of any Default unless and until written notice thereof is given to the Administrative Agent by the
Borrower Representative or a Lender, and the Administrative Agent shall not be responsible for or
have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or
in connection with any Loan Document, (ii) the contents of any certificate, report or other
document delivered hereunder or in connection with any Loan Document, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth in any Loan
Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or
any other agreement, instrument or document, (v) the creation, perfection or priority of Liens on
the Collateral or the existence of the Collateral, or (vi) the satisfaction of any condition set
forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items
expressly required to be delivered to the Administrative Agent.

          The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the
Borrowers), independent accountants and other experts selected by it, and shall not be liable for
any action taken or not taken by it in accordance with the advice of any such counsel, accountants
or experts.

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

          Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may, upon thirty days prior notice (which notice may be
given prior to the appointment and acceptance of a successor Administrative Agent), resign at any
time effective upon the appointment of and the acceptance of such appointment by a successor
Administrative Agent by notifying the Lenders, the Issuing Bank and the Borrower Representative.
Upon any such resignation, the Required Lenders shall have the right, with the prior written
consent of the Borrowers Representative to appoint a successor (provided that no consent of
the Borrower Representative shall be unreasonably withheld or required if such successor is a
Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is
continuing). If no successor shall have been so appointed by the Required Lenders and shall have
accepted such appointment within 30 days after the retiring Administrative Agent gives notice of
its resignation, then the retiring Administrative Agent may, with the written consent of the
Borrower Representative (provided that no consent of the Borrower Representative shall be
unreasonably withheld or required if such successor is a Lender, an Affiliate of a Lender, an
Approved Fund or, if an Event of Default has occurred and is continuing) on behalf of the Lenders
and the Issuing Bank, appoint a successor Administrative Agent which shall be a commercial bank or
an Affiliate of any such commercial bank. Upon the acceptance of its appointment as Administrative
Agent hereunder by a successor, such successor shall succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder. The fees
payable by the Borrowers to a successor Administrative Agent shall be the same as those payable to
its predecessor unless otherwise agreed between the Borrowers and such successor. After the
Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall
continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their
respective Related Parties in respect of any actions taken or omitted to be taken by any of them
while it was acting as Administrative Agent.

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

          Each Lender hereby agrees that (a) it has requested a copy of each Report prepared by or on
behalf of the Administrative Agent; (b) the Administrative Agent (i) makes no representation or
warranty, express or implied, as to the completeness or accuracy of any Report or any of the
information contained therein or any inaccuracy or omission contained in or relating to a Report
and (ii) shall not be liable for any information contained in any Report; (c) the Reports are not
comprehensive audits or examinations, and that any Person performing any field examination will
inspect only specific information regarding the Loan Parties and will rely significantly upon the
Loan Parties’ books and records, as well as on representations of the Loan Parties’ personnel and
that the Administrative Agent undertakes no obligation to update, correct or supplement the
Reports; (d) it will keep all Reports

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confidential and strictly for its internal use, not share the Report with any other Person
except as otherwise permitted pursuant to this Agreement; and (e) without limiting the generality
of any other indemnification provision contained in this Agreement, it will pay and protect, and
indemnify, defend, and hold the Administrative Agent and any such other Person preparing a Report
harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other
amounts (including reasonable attorney fees) incurred by as the direct or indirect result of any
third parties who might obtain all or part of any Report through the indemnifying Lender.

          For the sake of clarity, each Lender hereby agrees with each other Lender that no Lender shall
take any action to protect or enforce its rights arising out of this Agreement or any other Loan
Document (including exercising any rights of setoff) without first obtaining the prior written
consent of Administrative Agent or Requisite Lenders, it being the intent of Lenders that any such
action to protect or enforce rights under this Agreement and the other Loan Documents shall be
taken in concert and at the direction or with the consent of Agent or Requisite Lenders.

          Each Lender hereby irrevocably appoints, designates and authorizes Administrative Agent to
enter into the Intercreditor Agreement and any subordination or intercreditor agreement pertaining
to any Subordinated Indebtedness, on its behalf and to take such action on its behalf under the
provisions of the Intercreditor Agreement any such other agreement. Each Lender further agrees to
be bound by the terms and conditions of the Intercreditor Agreement and each such other
subordination or intercreditor agreement pertaining to any Subordinated Indebtedness.

          The Documentation Agent and the Co-Syndication Agents shall not have any right, power,
obligation, liability, responsibility or duty under this Agreement other than those applicable to
all Lenders as such.

ARTICLE IX

Miscellaneous

          Section 9.01 Notices.

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

          (i) if to any Loan Party, to the Borrower Representative at:

Libbey Glass Inc.

300 Madison Avenue

Toledo, OH 43604

Attention: Kenneth A. Boerger

Facsimile No: 419-325-2117

          (ii) (a) in the case of the US Borrower or any US Loan Party, if to the Administrative Agent,
the Issuing Bank or the Swingline Lender, to JPMorgan Chase Bank, N.A. at:

Chase Business Credit

1300 E. Ninth Street

Cleveland, OH 44114

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Attention: Mathew Brewer and Libbey Glass Account Manager

Facsimile No: 216- 781-2071

          (b) in the case of the Netherlands Borrower or any Netherlands Loan Party, if
to the Administrative Agent, the Issuing Bank or the Swingline Lender, to JPMorgan
Chase Bank, N.A. at:

J.P. Morgan Europe Limited

125 London Wall

London

EC2Y 5 AJ

Attention: Steve Clarke and Libbey Glass Account Manager

Facsimile No: 011 44 20 7777 2360

          (iii) if to any other Lender, to it at its address or facsimile number set forth in its
Administrative Questionnaire.

All such notices and other communications (i) sent by hand or overnight courier service, or mailed
by certified or registered mail, shall be deemed to have been given when received or (ii) sent by
facsimile shall be deemed to have been given when sent, provided that if not given during
normal business hours for the recipient, shall be deemed to have been given at the opening of
business on the next Business Day for the recipient.

          (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communications (including e-mail and internet or intranet websites) pursuant to
procedures approved by the Administrative Agent; provided that the foregoing shall not
apply to notices pursuant to Article II or to compliance and no Event of Default certificates
delivered pursuant to Section 5.01(d) unless otherwise agreed by the Administrative Agent and the
applicable Lender. The Administrative Agent or the Borrower Representative (on behalf of the Loan
Parties) may, in its discretion, agree to accept notices and other communications to it hereunder
by electronic communications pursuant to procedures approved by it; provided that approval
of such procedures may be limited to particular notices or communications. All such notices and
other communications (i) sent to an e-mail address shall be deemed received upon the sender’s
receipt of an acknowledgement from the intended recipient (such as by the “return receipt
requested” function, as available, return e-mail or other written acknowledgement),
provided that if not given during the normal business hours of the recipient, such notice
or communication shall be deemed to have been given at the opening of business on the next Business
Day for the recipient, and (ii) posted to an Internet or intranet website shall be deemed received
upon the deemed receipt by the intended recipient at its e-mail address as described in the
foregoing clause (b)(i) of notification that such notice or communication is available and
identifying the website address therefor.

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

          Section 9.02 Waivers; Amendments.

          (a) No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in
exercising any right or power hereunder or under any other Loan Document shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or further exercise
thereof or the exercise of any other right or power. The rights and remedies of the Administrative
Agent, the Issuing

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Bank and the Lenders hereunder and under any other Loan Document are cumulative and are not
exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of
any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver
or consent shall be effective only in the specific instance and for the purpose for which given.
Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of
Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative
Agent, any Lender or the Issuing Bank may have had notice or knowledge of such Default at the time.

          (b) Neither this Agreement nor any other Loan Document nor any provision hereof or thereof may
be waived, amended or modified except (i) in the case of this Agreement, pursuant to an agreement
or agreements in writing entered into by the Borrowers and the Required Lenders or, (ii) in the
case of any other Loan Document, pursuant to an agreement or agreements in writing entered into by
the Administrative Agent and the Loan Party or Loan Parties that are parties thereto, with the
consent of the Required Lenders; provided that no such agreement shall (i) increase the
Commitment of any Lender without the written consent of such Lender, increase the Euro Sublimit
without the written consent of each Lender, decrease the Availability Block without the written
consent of each Lender, or increase the Revolving Netherlands Sublimit without the written consent
of the Supermajority Lenders (provided that the Administrative Agent may make Protective Advances
as set forth in Section 2.04), (ii) reduce or forgive the principal amount of any Loan or LC
Disbursement or subject to Section 2.13(d) reduce the rate of interest thereon, or reduce or
forgive any interest or fees payable hereunder, without the written consent of each Lender directly
affected thereby, (iii) postpone any scheduled date of payment of the principal amount of any Loan
or LC Disbursement, or any date for the payment of any interest, fees or other Obligations payable
hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled
date of expiration of any Commitment, without the written consent of each Lender directly affected
thereby, (iv) change Section 2.18(b) or (d) in a manner that would alter the manner in which
payments are shared, without the written consent of each Lender, (v) change any of the provisions
of this Section or the definition of “Required Lenders” or any other provision of any Loan Document
specifying the number or percentage of Lenders (or Lenders of any Class) required to waive, amend
or modify any rights thereunder or make any determination or grant any consent thereunder, without
the written consent of each Lender, (vi) release any Loan Guarantor from its obligation under its
Loan Guaranty (except as otherwise permitted, including pursuant to a merger, consolidation,
disposition, liquidation or dissolution permitted herein or in the other Loan Documents), without
the written consent of each Lender, (vii) except as provided in clause (c) of this Section or in
any Collateral Document, release all or substantially all of the Collateral or subordinate any
Liens on any Collateral, without the written consent of each Lender or (viii) increase the advance
rates set forth in the definitions of US Borrowing Base and Netherlands Borrowing Base without the
written consent of each Lender or add new categories of eligible assets without the written consent
of the Supermajority Lenders; provided further that no such agreement shall amend, modify
or otherwise affect the rights or duties of the Administrative Agent, the Issuing Bank or the
Swingline Lender hereunder without the prior written consent of the Administrative Agent, the
Issuing Bank or the Swingline Lender, as the case may be (it being understood that any change to
Section 2.20 shall require the consent of the Administrative Agent, the Swingline Lender and the
Issuing Bank). The Administrative Agent may also amend the Commitment Schedule to reflect
Commitment reductions effected in accordance herewith and assignments entered into pursuant to
Section 9.04. Notwithstanding the foregoing (but subject to the foregoing clause (i)), any
amendment, modification or waiver (i) to Section 2.11 and (ii) to the definitions of Aggregate
Availability or the definitions used in the calculation thereof shall only require the consent of
Required Lenders, the Administrative Agent and the Borrowers.

          (c) The Lenders and any other holders of Secured Obligations hereby irrevocably authorize the
Administrative Agent, at its option and in its sole discretion, to release any Liens granted to

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the Administrative Agent by the Loan Parties on any Collateral (i) upon the termination of all
Commitments, payment and satisfaction in full in cash of all Secured Obligations (other than
Unliquidated Obligations), and the cash collateralization of all Unliquidated Obligations for which
a definite claim has been submitted to the Administrative Agent in a manner satisfactory to each
affected Lender, (ii) constituting property being sold or disposed of if the Loan Party disposing
of such property certifies to the Administrative Agent that the sale or disposition is made in
compliance with the terms of this Agreement (and the Administrative Agent may rely conclusively on
any such certificate, without further inquiry), (iii) constituting property leased to a Loan Party
under a lease which has expired or been terminated or (iv) as required to effect any sale or other
disposition of such Collateral in connection with any exercise of remedies of the Administrative
Agent and the Lenders pursuant to Article VII. Except as provided in the preceding sentence, the
Administrative Agent will not release any Liens on Collateral without the prior written
authorization of the Required Lenders; provided that, the Administrative Agent may in its
discretion, (i) release its Liens on Collateral valued in the aggregate not in excess of
$10,000,000 during any calendar year without the prior written authorization of the Required
Lenders and (ii) release any of its Liens in connection with, or subordinate any of its Liens to,
Liens permitted by Sections 6.02(d) and (e). Any such release shall not in any manner discharge,
affect, or impair the Obligations or any Liens (other than those expressly being released) upon (or
obligations of the Loan Parties in respect of) all interests retained by the Loan Parties,
including the proceeds of any sale, all of which shall continue to constitute part of the
Collateral.

          Section 9.03 Expenses; Indemnity; Damage Waiver.

          (a) Subject to Section 9.20 the Borrowers shall pay (i) all reasonable documented
out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the
reasonable documented fees, charges and disbursements of one counsel per jurisdiction for the
Administrative Agent, in connection with the syndication and distribution (including, without
limitation, via the internet or through a service such as Intralinks) of the credit facilities
provided for herein, the preparation and administration of the Loan Documents or any amendments,
modifications or waivers of the provisions of the Loan Documents (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses
incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of
any Letter of Credit or any demand for payment thereunder and (iii) all reasonable, documented
out-of-pocket expenses incurred by the Administrative Agent, the Issuing Bank or any Lender,
including the fees, charges and disbursements of one counsel per jurisdiction for the
Administrative Agent, the Issuing Bank and the Lenders, in connection with the enforcement,
collection or protection of its rights in connection with the Loan Documents, including its rights
under this Section, or in connection with the Loans made or Letters of Credit issued hereunder,
including all such out-of-pocket expenses incurred during any workout, restructuring or similar
negotiations in respect of such Loans or Letters of Credit. Expenses being reimbursed by the
Borrowers under this Section include, without limiting the generality of the foregoing, costs and
expenses incurred in connection with:

          (i) subject to Section 5.11, appraisals and insurance reviews;

          (ii) subject to Section 5.06, field examinations and the preparation of Reports based on the
fees charged by a third party retained by the Administrative Agent or the internally allocated fees
for each Person employed by the Administrative Agent with respect to each field examination;

          (iii) Taxes, fees and other charges for (A) lien and title searches and title insurance and
(B) recording the Mortgages, filing financing statements and continuations, and other actions to
perfect, protect, and continue the Administrative Agent’s Liens; and

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          (iv) forwarding loan proceeds, collecting checks and other items of payment, and establishing
and maintaining the accounts and lock boxes, and costs and expenses of preserving and protecting
the Collateral.

All of the foregoing costs and expenses may be charged to the Borrowers as Revolving Loans or to
another deposit account, all as described in Section 2.18(c).

          (b) The Borrowers shall, jointly and severally, indemnify the Administrative Agent, the
Issuing Bank and each Lender, and each Related Party of any of the foregoing Persons (each such
Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any
and all losses, claims, damages, penalties, liabilities and related expenses, including the fees,
charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any
Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of
the Loan Documents or any agreement or instrument contemplated thereby, the performance by the
parties hereto of their respective obligations thereunder or the consummation of the Transactions
or any other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the
proceeds therefrom (including any refusal by the Issuing Bank to honor a demand for payment under a
Letter of Credit if the documents presented in connection with such demand do not strictly comply
with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of
Hazardous Materials on or from any property owned or operated by any Borrower or any of their
Subsidiaries, or any Environmental Liability related in any way to any Borrower or any of their
Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory and
regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall
not, as to any Indemnitee, be available to the extent that such losses, claims, damages, penalties,
liabilities or related expenses are determined by a court of competent jurisdiction by final
judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or any
Related Party of such Indemnitee or such Related Party shall admit such gross negligence or willful
misconduct in writing in a judicial proceeding of a court of competent jurisdiction.

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

          (d) To the extent permitted by applicable law, no Loan Party shall assert, and each hereby
waives, any claim against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in
connection with, or as a result of, this Agreement or any agreement or instrument contemplated
hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof.

          (e) All amounts due under this Section shall be payable within 10 Business Days after written
demand therefor.

          Section 9.04 Successors and Assigns.

          (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby (including any
Affiliate of

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the Issuing Bank that issues any Letter of Credit), except that (i) the Borrowers may not
assign or otherwise transfer any of its rights or obligations hereunder without the prior written
consent of each Lender (and any attempted assignment or transfer by the Borrowers without such
consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or
obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed
or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank
that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this
Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy or
claim under or by reason of this Agreement.

          (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign
to one or more assignees all or a portion of its rights and obligations under this Agreement
(including all or a portion of its Commitments, Revolving Loan Commitments and the Loans at the
time owing to it (it being understood and agreed, except as otherwise agreed by Administrative
Agent in its sole discretion, in making any assignment of a Commitment, Revolving Commitment or
outstanding Loans made to US Borrower, such Lender must make a proportional assignment of such
Lender’s Revolving Netherlands Sublimit and outstanding Loans made to Netherlands Borrower, and
vice versa)) with the prior written consent (such consent not to be unreasonably withheld) of:

          (A) the Borrower Representative, provided that no consent of the Borrower
Representative shall be required for an assignment to a Lender, an Affiliate of a Lender, an
Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee;

          (B) the Administrative Agent; and

          (C) the Issuing Bank.

          (ii) Assignments shall be subject to the following additional conditions:

          (A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an
assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans of
any Class, the amount of the Commitment or Loans of the assigning Lender subject to each
such assignment (determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000
unless each of the Borrower Representative and the Administrative Agent otherwise consent,
provided that no such consent of the Borrower Representative shall be required if an
Event of Default has occurred and is continuing;

          (B) each partial assignment shall be made as an assignment of a proportionate part of
all the assigning Lender’s rights and obligations under this Agreement;

          (C) the parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500
(provided that such fee shall not be charged is such assignment is between an assignor and
assignee that are Affiliates of each other); and

          (D) the assignee, if it shall not be a Lender, shall deliver to the Administrative
Agent an Administrative Questionnaire in which the assignee designates one or more Credit
Contacts to whom all syndicate-level information (which may contain material non-public
information about the Loan Parties and their Related Parties or their respective securities)

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will be made available and who may receive such information in accordance with the
assignee’s compliance procedures and applicable laws, including Federal and state securities
laws.

          (E) in no event shall any such assignments be for an amount of less than 50,000 Euros
(or the equivalent thereof in any other currency) of the Revolving Exposures.

          For the purposes of this Section 9.04(b), the term “Approved Fund” has the following
meaning:

          “Approved Fund” means any Person (other than a natural person) that is engaged in
making, purchasing, holding or investing in bank loans and similar extensions of credit in the
ordinary course of its business and that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

          (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this
Section, from and after the effective date specified in each Assignment and Assumption the assignee
thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption,
be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of
Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this Section 9.04 shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with paragraph (c) of this Section.

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

          (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning
Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph
(b) of this Section and any written consent to such assignment required by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Assumption and record the
information contained therein in the Register; provided that if either the assigning Lender
or the assignee shall have failed to make any payment required to be made by it pursuant to Section
2.05, 2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(c), the Administrative Agent shall have no
obligation to accept such Assignment and Assumption and record the information therein in the
Register unless and until such payment shall have been made in full, together with all accrued
interest thereon. No assignment shall be effective for purposes of this Agreement unless it has
been recorded in the Register as provided in this paragraph.

          (c) Any Lender may, without the consent of the Borrowers, the Administrative Agent, the
Issuing Bank or the Swingline Lender, sell participations to one or more banks or other entities (a

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“Participant”) in all or a portion of such Lender’s rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans owing to it);
provided that (A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (C) the Borrowers, the Administrative Agent, the Issuing Bank and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to
which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any
provision of this Agreement; provided that such agreement or instrument may provide that
such Lender will not, without the consent of the Participant, agree to any amendment, modification
or waiver described in the first proviso to Section 9.02(b) that directly affects such Participant.
Subject to paragraph (c)(ii) of this Section, the Borrowers agree that each Participant shall be
entitled to the benefits of Sections 2.15, 2.16 and 2.17 to the same extent as if it were a Lender
and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the
extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as
though it were a Lender, provided such Participant agrees to be subject to Section 2.18(c) as
though it were a Lender.

               A Participant shall not be entitled to receive any greater payment under Section 2.15, 2.16 or
2.17 than the applicable Lender would have been entitled to receive with respect to the
participation sold to such Participant, unless the sale of the participation to such Participant is
made with the Borrower Representative’s prior written consent. A Participant that would be a
Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.17 unless the
Borrower Representative is notified of the participation sold to such Participant and such
Participant agrees, for the benefit of the Borrowers, to comply with Section 2.17(d) as though it
were a Lender.

          (d) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender, including without limitation
any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall
not apply to any such pledge or assignment of a security interest; provided that no such
pledge or assignment of a security interest shall release a Lender from any of its obligations
hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

          Section 9.05 Survival. All covenants, agreements, representations and
warranties made by the Loan Parties in the Loan Documents and in the certificates or other
instruments delivered in connection with or pursuant to this Agreement or any other Loan Document
shall be considered to have been relied upon by the other parties hereto and shall survive the
execution and delivery of the Loan Documents and the making of any Loans and issuance of any
Letters of Credit, regardless of any investigation made by any such other party or on its behalf
and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender may have had
notice or knowledge of any Default or incorrect representation or warranty at the time any credit
is extended hereunder, and shall continue in full force and effect as long as the principal of or
any accrued interest on any Loan or any fee or any other amount payable under this Agreement or any
other Loan Document is outstanding and unpaid or any Letter of Credit is outstanding and so long as
the Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and
9.03 and Article VIII shall survive and remain in full force and effect regardless of the
consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or
termination of the Letters of Credit and the Commitments or the termination of this Agreement or
any provision hereof.

          Section 9.06 Counterparts; Integration; Effectiveness. This Agreement and any
other Loan Document may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which when taken together
shall

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constitute a single contract. This Agreement, the other Loan Documents and any separate
letter agreements with respect to fees payable to the Administrative Agent constitute the entire
contract among the parties relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter hereof. This
Agreement shall become effective when it shall have been executed by the Administrative Agent and
when the Administrative Agent shall have received counterparts hereof which, when taken together,
bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns. Delivery
of an executed counterpart of a signature page of any Loan Document by facsimile shall be effective
as delivery of a manually executed counterpart of such Loan Document.

          Section 9.07 Severability. Any provision of any Loan Document held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such invalidity, illegality or unenforceability without affecting the
validity, legality and enforceability of the remaining provisions thereof; and the invalidity of a
particular provision in a particular jurisdiction shall not invalidate such provision in any other
jurisdiction.

          Section 9.08 Right of Setoff. If an Event of Default shall have occurred and
be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from
time to time, to the fullest extent permitted by law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final, but excluding deposits held in trust
accounts) at any time held and other obligations at any time owing by such Lender or Affiliate to
or for the credit or the account of any Borrower or any Loan Guarantor pledging Collateral as
security for the Secured Obligations of such Borrower against any of and all the Secured
Obligations arising in respect of such Borrower held by such Lender, irrespective of whether or not
such Lender shall have made any demand under the Loan Documents and although such obligations may
be unmatured. The applicable Lender shall notify the Borrower Representative and the
Administrative Agent of such set-off or application, provided that any failure to give or
any delay in giving such notice shall not affect the validity of any such set-off or application
under this Section. The rights of each Lender under this Section are in addition to other rights
and remedies (including other rights of setoff) which such Lender may have.

          Section 9.09 Governing Law; Jurisdiction; Consent to Service of Process.

          (a) The Loan Documents (other than those containing a contrary express choice of law
provision) shall be governed by and construed in accordance with the laws of the State of New York,
but giving effect to federal laws applicable to national banks.

          If a Netherlands Loan Party is represented by a Person acting under a power of attorney in
connection with the signing and/or execution of this Agreement or any other deed, agreement or
document referred to in this Agreement or made pursuant to this Agreement, it is hereby expressly
acknowledged and accepted by the other parties that the existence and extent of such Person’s
authority under such power of attorney and the effects of the such Person’s exercise or purported
exercise of such Person’s authority shall be governed by the laws of the Netherlands.

          (b) Each Loan Party hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of any U.S. Federal or New York State court sitting in
New York, New York in any action or proceeding arising out of or relating to any Loan Documents, or
for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably
and unconditionally agrees that all claims in respect of any such action or proceeding may be heard
and determined in such New York State or, to the extent permitted by law, in such Federal court.
Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may

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be enforced in other jurisdictions by suit on the judgment or in any other manner provided by
law. Nothing in this Agreement or any other Loan Document shall affect any right that the
Administrative Agent, the Issuing Bank or any Lender may otherwise have to bring any action or
proceeding relating to this Agreement or any other Loan Document against any Loan Party or its
properties in the courts of any jurisdiction.

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

          (d) Each party to this Agreement irrevocably consents, to the fullest extent it may legally
and effectively do so, to service of process in the manner provided for notices in Section 9.01.
Nothing in this Agreement or any other Loan Document will affect the right of any party to this
Agreement to serve process in any other manner permitted by law.

          Section 9.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS
AND CERTIFICATIONS IN THIS SECTION.

          Section 9.11 Headings. Article and Section headings and the Table of Contents
used herein are for convenience of reference only, are not part of this Agreement and shall not
affect the construction of, or be taken into consideration in interpreting, this Agreement.

          Section 9.12 Confidentiality. Each of the Administrative Agent, the Issuing
Bank and the Lenders agrees to maintain the confidentiality of the Information (as defined below),
except that Information may be disclosed (a) to its and its Affiliates’ directors, officers,
employees and agents, including accountants, legal counsel and other advisors (it being understood
that the Persons to whom such disclosure is made will be informed of the confidential nature of
such Information and instructed to keep such Information confidential), (b) to the extent requested
by any regulatory authority, (c) to the extent required by Requirement of Laws or by any subpoena
or similar legal process, (d) to any other party to this Agreement, (e) to the extent necessary in
connection with the exercise of any remedies hereunder or any suit, action or proceeding relating
to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder,
(f) subject to an agreement containing provisions substantially the same as those of this Section,
to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of
its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or
its advisors) to any swap or derivative transaction relating to the Loan Parties and their
obligations, (g) with the consent of the Borrower Representative or (h) to the extent such
Information (i) becomes publicly available other than as a result of a breach of this Section or
(ii) becomes available to the Administrative Agent, the Issuing Bank or any Lender on a
non-confidential

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basis other than through a breach of this Section from a source other than the Borrowers. For
the purposes of this Section, “Information” means all information received from the
Borrowers relating to the Borrowers or their business, other than any such information that is
available to the Administrative Agent, the Issuing Bank or any Lender on a non-confidential basis
prior to disclosure by the Borrowers. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied with its obligation to
do so if such Person has exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.

          EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.12 FURNISHED TO IT PURSUANT
TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING HOLDINGS AND ITS
AFFILIATES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS
DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT
WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE
LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.

          ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWERS OR
THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE
SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT HOLDINGS, THE
LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER
REPRESENTS TO THE BORROWERS AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS
ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL
NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW, INCLUDING
FEDERAL AND STATE SECURITIES LAWS.

          Section 9.13 Several Obligations; Nonreliance; Violation of Law. The
respective obligations of the Lenders hereunder are several and not joint and the failure of any
Lender to make any Loan or perform any of its obligations hereunder shall not relieve any other
Lender from any of its obligations hereunder. Each Lender hereby represents that it is not relying
on or looking to any margin stock for the repayment of the Borrowings provided for herein.
Anything contained in this Agreement to the contrary notwithstanding, neither the Issuing Bank nor
any Lender shall be obligated to extend credit to the Borrowers in violation of any Requirement of
Law.

          Section 9.14 USA PATRIOT Act. Each Lender that is subject to the requirements
of the Act hereby notifies the Borrowers that pursuant to the requirements of the Act, it is
required to obtain, verify and record information that identifies the Borrowers, which information
includes the names and addresses of the Borrowers and other information that will allow such Lender
to identify the Borrowers in accordance with the Act.

          Section 9.15 Disclosure. Each Loan Party and each Lender hereby acknowledges
and agrees that the Administrative Agent and/or its Affiliates from time to time may hold
investments in, make other loans to or have other relationships with any of the Loan Parties and
their respective Affiliates.

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          Section 9.16 Appointment for Perfection. Each Lender hereby appoints the
Administrative Agent and each other Lender as its agent for the purpose of perfecting Liens, for
the benefit of the Administrative Agent and the Lenders, in assets which, in accordance with
Article 9 of the UCC or any other applicable law can be perfected only by possession. Should any
Lender (other than the Administrative Agent) obtain possession of any such Collateral, such Lender
shall notify the Administrative Agent thereof, and, promptly upon the Administrative Agent’s
request therefor shall deliver such Collateral to the Administrative Agent or otherwise deal with
such Collateral in accordance with the Administrative Agent’s instructions.

          Section 9.17 Interest Rate Limitation. Notwithstanding anything herein to the
contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges
and other amounts which are treated as interest on such Loan under applicable law (collectively the
“Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be
contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance
with applicable law, the rate of interest payable in respect of such Loan hereunder, together with
all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent
lawful, the interest and Charges that would have been payable in respect of such Loan but were not
payable as a result of the operation of this Section shall be cumulated and the interest and
Charges payable to such Lender in respect of other Loans or periods shall be increased (but not
above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the
Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.

          Section 9.18 Judgment Currency.

          (a) If for the purpose of obtaining judgment in any court it is necessary to convert a sum due
hereunder in one currency into another currency, the parties hereto agree, to the fullest extent
that they may effectively do so, that the rate of exchange used shall be that at which in
accordance with normal banking procedures the Administrative Agent could purchase the first
currency with such other currency in the city in which it normally conducts its foreign exchange
operation for the first currency on the Business Day preceding the day on which final judgment is
given.

          (b) The obligation of each Loan Party in respect of any sum due from it to any Lender, the
Administrative Agent or the Issuing Bank hereunder shall, notwithstanding any judgment in a
currency (the “Judgment Currency”) other than that in which such sum is denominated in
accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be
discharged only to the extent that on the Business Day following receipt by such Lender,
Administrative Agent or Issuing Bank of any sum adjudged to be so due in the Judgment Currency such
Lender, Administrative Agent or Issuing Bank may in accordance with normal banking procedures
purchase the Agreement Currency with the Judgment Currency; if the amount of Agreement Currency so
purchased is less than the sum originally due to such Lender, Administrative Agent or Issuing Bank
in the Agreement Currency, such Loan Party agrees notwithstanding any such judgment to indemnify
such Lender, Administrative Agent or Issuing Bank against such loss, and if the amount of the
Agreement Currency so purchased exceeds the sum originally due to any Lender, Administrative Agent
or Issuing Bank, such Lender, Administrative Agent or Issuing Bank agrees to remit to such Loan
Party such excess.

          Section 9.19 Netherlands Parallel Debt.

          Each of the parties hereto agrees to and acknowledges the provisions set forth in clause 4
(Parallel Debt) of the Netherlands Security Agreements.

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          Section 9.20 Several Liability of Netherlands Loan Parties. Notwithstanding
anything herein or in the other Loan Documents to the contrary, the parties hereto acknowledge and
agree that the Netherlands Loan Parties shall not be liable for any Obligations other than those
arising out of or relating to Loans made to the Netherlands Borrower.

          Section 9.21 Euro Loans.

          If by reason of internal policies, legal requirements and limitations or lack of ready access
to certain currencies, certain Lenders may not be able to make and maintain Commitments to or make
Loans to certain of the Borrowers or make Loans in Euros to certain of the Borrowers, Chase may
agree to assume such Commitments or make such Loans in place of such Lenders. If Chase agrees to
make such Commitments, it shall agree with each such Lender that it will make or maintain one or
more Commitments in the place of such Lender and shall record its agreement with respect thereto in
the Register and such Lender shall thereby be released from such Commitment or shall not be
required to make or maintain such Loans and such Commitment shall thereafter be included within
Chase’s Commitment for all purposes hereunder.

          Section 9.22 Euro Loans.

          Any security (whether in rem, contractual or otherwise) granted by the Netherlands Loan
Parties pursuant to or in connection with any Collateral Document governed by Netherlands law is
intended to secure the Netherlands Secured Obligations, as amended, novated, supplemented, extended
or restated from time to time (including by way of an increase of the credit made available under
the relevant Loan Document or the accession or exit of a party to that document), and (ii)
references in any such Collateral Document governed by Netherlands law to “Netherlands Secured
Obligations” (or similar wording) or, if the definition of “Netherlands Secured Obligations”
includes the words “Parallel Debt” (or similar wording), to “Corresponding Obligations” (or
similar wording) should therefore be construed to include any obligations as amended, novated,
supplemented, extended or restated from time to time as described above.

          Section 9.23 Effect of Amendment and Restatement; No Novation.

          Upon the execution and delivery of this Agreement, the liabilities of each Loan Party
previously governed by the Original Credit Agreement shall continue in full force and effect, but
shall now be governed by the terms and conditions set forth in this Agreement. Such liabilities,
together with any and all additional liabilities incurred by the Loan Parties hereunder or under
any of the other Loan Documents shall continue to be secured by the assets of the Loan Parties as
set forth herein and in the Loan Documents. The execution and delivery of this Agreement shall not
constitute a novation or repayment of the “Obligations” outstanding under the Original Credit
Agreement.

ARTICLE X

Loan Guaranty

          Section 10.01 Guaranty.

          (a) Each US Loan Guarantor hereby agrees that it is jointly and severally liable for, and, as
primary obligor and not merely as surety, absolutely and unconditionally guarantees to the Lenders
the prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all
times thereafter, of the US Secured Obligations and all reasonable, documented out-of-pocket costs
and expenses including, without limitation, all court costs and attorneys’ and paralegals’ fees
(including

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allocated costs of in-house counsel and paralegals) and expenses paid or incurred by the
Administrative Agent, the Issuing Bank and the Lenders in endeavoring to collect all or any part of
the US Secured Obligations from, or in prosecuting any action against, the US Borrower, any US Loan
Guarantor or any other guarantor of all or any part of the US Secured Obligations (such costs and
expenses, together with the US Secured Obligations, collectively the “US Guaranteed
Obligations”). Each US Loan Guarantor further agrees that the US Guaranteed Obligations may be
extended or renewed in whole or in part without notice to or further assent from it, and that it
remains bound upon its guarantee notwithstanding any such extension or renewal. All terms of this
Loan Guaranty apply to and may be enforced by or on behalf of any domestic or foreign branch or
Affiliate of any Lender that extended any portion of the US Guaranteed Obligations.

          (b) Each Loan Guarantor hereby agrees that it is jointly and severally liable for, and, as
primary obligor and not merely as surety, absolutely and unconditionally guarantees to the Lenders
the prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all
times thereafter, of the Netherlands Secured Obligations and all reasonable, documented
out-of-pocket costs and expenses including, without limitation, all court costs and attorneys’ and
paralegals’ fees (including allocated costs of in-house counsel and paralegals) and expenses paid
or incurred by the Administrative Agent and the Lenders in endeavoring to collect all or any part
of the Netherlands Secured Obligations from, or in prosecuting any action against, any Borrower,
any Loan Guarantor or any other guarantor of all or any part of the Netherlands Secured Obligations
(such costs and expenses, together with the Netherlands Secured Obligations, collectively the
“Netherlands Guaranteed Obligations” and together with the US Guaranteed Obligations, the
“Guaranteed Obligations”). Each Loan Guarantor further agrees that the Netherlands
Guaranteed Obligations may be extended or renewed in whole or in part without notice to or further
assent from it, and that it remains bound upon its guarantee notwithstanding any such extension or
renewal. All terms of this Loan Guaranty apply to and may be enforced by or on behalf of any
domestic or foreign branch or Affiliate of any Lender that extended any portion of the Netherlands
Guaranteed Obligations.

          Section 10.02 Guaranty of Payment. This Loan Guaranty is a guaranty of
payment and not of collection. Each Loan Guarantor waives any right to require the Administrative
Agent, the Issuing Bank or any Lender to sue any Borrower, any Loan Guarantor, any other guarantor,
or any other person obligated for all or any part of the Guaranteed Obligations (each, an
“Obligated Party”), or otherwise to enforce its payment against any collateral securing all
or any part of the Guaranteed Obligations.

          Section 10.03 No Discharge or Diminishment of Loan Guaranty.

          (a) Except as otherwise provided for herein, the obligations of each Loan Guarantor hereunder
are unconditional and absolute and not subject to any reduction, limitation, impairment or
termination for any reason (other than the indefeasible payment in full in cash of the Guaranteed
Obligations), including: (i) any claim of waiver, release, extension, renewal, settlement,
surrender, alteration, or compromise of any of the Guaranteed Obligations, by operation of law or
otherwise; (ii) any change in the corporate existence, structure or ownership of any Borrower or
any other guarantor of or other person liable for any of the Guaranteed Obligations; (iii) any
insolvency, bankruptcy, reorganization or other similar proceeding affecting any Obligated Party,
or their assets or any resulting release or discharge of any obligation of any Obligated Party; or
(iv) the existence of any claim, setoff or other rights which any Loan Guarantor may have at any
time against any Obligated Party, the Administrative Agent, the Issuing Bank, any Lender, or any
other person, whether in connection herewith or in any unrelated transactions.

          (b) The obligations of each Loan Guarantor hereunder are not subject to any defense or setoff,
counterclaim, recoupment, or termination whatsoever by reason of the invalidity, illegality, or

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unenforceability of any of the Guaranteed Obligations or otherwise, or any provision of
applicable law or regulation purporting to prohibit payment by any Obligated Party, of the
Guaranteed Obligations or any part thereof.

          (c) Further, the obligations of any Loan Guarantor hereunder are not discharged or impaired or
otherwise affected by: (i) the failure of the Administrative Agent, the Issuing Bank or any Lender
to assert any claim or demand or to enforce any remedy with respect to all or any part of the
Guaranteed Obligations; (ii) any waiver or modification of or supplement to any provision of any
agreement relating to the Guaranteed Obligations; (iii) any release, non-perfection, or invalidity
of any indirect or direct security for the obligations of any Borrower for all or any part of the
Guaranteed Obligations or any obligations of any other guarantor of or other person liable for any
of the Guaranteed Obligations; (iv) any action or failure to act by the Administrative Agent, the
Issuing Bank or any Lender with respect to any collateral securing any part of the Guaranteed
Obligations; or (v) any default, failure or delay, willful or otherwise, in the payment or
performance of any of the Guaranteed Obligations, or any other circumstance, act, omission or delay
that might in any manner or to any extent vary the risk of such Loan Guarantor or that would
otherwise operate as a discharge of any Loan Guarantor as a matter of law or equity (other than the
indefeasible payment in full in cash of the Guaranteed Obligations).

          Section 10.04 Defenses Waived. To the fullest extent permitted by applicable
law, each Loan Guarantor hereby waives any defense based on or arising out of any defense of any
Borrower or any Loan Guarantor or the unenforceability of all or any part of the Guaranteed
Obligations from any cause, or the cessation from any cause of the liability of any Borrower or any
Loan Guarantor, other than the payment in full in cash of the Guaranteed Obligations other than any
Unliquidated Obligations for which no definite claim has been submitted. Without limiting the
generality of the foregoing, each Loan Guarantor irrevocably waives acceptance hereof, presentment,
demand, protest and, to the fullest extent permitted by law, any notice not provided for herein, as
well as any requirement that at any time any action be taken by any person against any Obligated
Party, or any other person. Each Loan Guarantor confirms that it shall not raise any surety law as
a defense (if applicable) to its obligations hereunder. The Administrative Agent may, at its
election, foreclose on any Collateral held by it by one or more judicial or nonjudicial sales,
accept an assignment of any such Collateral in lieu of foreclosure or otherwise act or fail to act
with respect to any collateral securing all or a part of the Guaranteed Obligations, compromise or
adjust any part of the Guaranteed Obligations, make any other accommodation with any Obligated
Party or exercise any other right or remedy available to it against any Obligated Party, without
affecting or impairing in any way the liability of such Loan Guarantor under this Loan Guaranty
except to the extent the Guaranteed Obligations have been fully and indefeasibly paid in cash. To
the fullest extent permitted by applicable law, each Loan Guarantor waives any defense arising out
of any such election even though that election may operate, pursuant to applicable law, to impair
or extinguish any right of reimbursement or subrogation or other right or remedy of any Loan
Guarantor against any Obligated Party or any security.

          Section 10.05 Rights of Subrogation. No Loan Guarantor will assert any right,
claim or cause of action, including, without limitation, a claim of subrogation, contribution or
indemnification that it has against any Obligated Party, or any collateral, until the Loan Parties
and the Loan Guarantors have fully performed all their obligations to the Administrative Agent, the
Issuing Bank and the Lenders.

          Section 10.06 Reinstatement; Stay of Acceleration. If at any time any payment
of any portion of the Guaranteed Obligations is rescinded or must otherwise be restored or returned
upon the insolvency, bankruptcy, or reorganization of any Borrower or otherwise, each Loan
Guarantor’s obligations under this Loan Guaranty (if any) with respect to that payment shall be
reinstated at such time as though the payment had not been made and whether or not the
Administrative Agent, the Issuing Bank and the Lenders are in possession of this Loan Guaranty. If
acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the
insolvency, bankruptcy or reorganization of any Borrower, all

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such amounts otherwise subject to acceleration under the terms of any agreement relating to
the Guaranteed Obligations shall nonetheless be payable by the Loan Guarantors to the extent such
Loan Guarantor has guaranteed such Guaranteed Obligation forthwith on demand by the Lender.

          Section 10.07 Information. Each Loan Guarantor assumes all responsibility for
being and keeping itself informed of the Borrowers’ financial condition and assets, and of all
other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the
nature, scope and extent of the risks that each Loan Guarantor assumes and incurs under this Loan
Guaranty, and agrees that neither the Administrative Agent, the Issuing Bank nor any Lender shall
have any duty to advise any Loan Guarantor of information known to it regarding those circumstances
or risks.

          Section 10.08 Termination. The Lenders may continue to make loans or extend
credit to the Borrowers based on this Loan Guaranty until five days after it receives written
notice of termination from any Loan Guarantor. Notwithstanding receipt of any such notice, each
Loan Guarantor will continue to be liable to the Lenders for any Guaranteed Obligations which such
Loan Guarantor has guaranteed, created, assumed or committed to prior to the fifth day after
receipt of the notice, and all subsequent renewals, extensions, modifications and amendments with
respect to, or substitutions for, all or any part of that Guaranteed Obligations which such Loan
Guarantor has guaranteed.

          Section 10.09 Taxes. All payments of the Guaranteed Obligations will be made
by each Loan Guarantor free and clear of and without deduction for any Indemnified Taxes or Other
Taxes; provided that if any Loan Guarantor shall be required to deduct any Indemnified
Taxes or Other Taxes from such payments, then (i) the sum payable shall be increased as necessary
so that after making all required deductions (including deductions applicable to additional sums
payable under this Section) the Administrative Agent, Lender or Issuing Bank (as the case may be)
receives an amount equal to the sum it would have received had such payment been made by the
applicable Borrower in accordance with the terms of this Agreement, (ii) such Loan Guarantor shall
make such deductions and (iii) such Loan Guarantor shall pay the full amount deducted to the
relevant Governmental Authority in accordance with applicable law.

          Section 10.10 Maximum Liability. The provisions of this Loan Guaranty are
severable, and in any action or proceeding involving any state corporate law, or any state, federal
or foreign bankruptcy, insolvency, reorganization or other law affecting the rights of creditors
generally, if the obligations of any Loan Guarantor under this Loan Guaranty would otherwise be
held or determined to be avoidable, invalid or unenforceable on account of the amount of such Loan
Guarantor’s liability under this Loan Guaranty, then, notwithstanding any other provision of this
Loan Guaranty to the contrary, the amount of such liability shall, without any further action by
the Loan Guarantors or the Lenders, be automatically limited and reduced to the highest amount that
is valid and enforceable as determined in such action or proceeding (such highest amount determined
hereunder being the relevant Loan Guarantor’s “Maximum Liability”). This Section with
respect to the Maximum Liability of each Loan Guarantor is intended solely to preserve the rights
of the Lenders to the maximum extent not subject to avoidance under applicable law, and no Loan
Guarantor nor any other person or entity shall have any right or claim under this Section with
respect to such Maximum Liability, except to the extent necessary so that the obligations of any
Loan Guarantor hereunder shall not be rendered voidable under applicable law. Each Loan Guarantor
agrees that the Guaranteed Obligations guaranteed by such Loan Guarantor may at any time and from
time to time exceed the Maximum Liability of each Loan Guarantor without impairing this Loan
Guaranty or affecting the rights and remedies of the Lenders hereunder, provided that,
nothing in this sentence shall be construed to increase any Loan Guarantor’s obligations hereunder
beyond its Maximum Liability.

          Section 10.11 Contribution.

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          (a) In the event any US Loan Guarantor (a “US Paying Guarantor”) shall make any
payment or payments under this Loan Guaranty in respect of the US Guaranteed Obligations or shall
suffer any loss as a result of any realization upon any collateral granted by it to secure its
obligations under this Loan Guaranty in respect of the US Guaranteed Obligations, each other US
Loan Guarantor (each a “US Non-Paying Guarantor”) shall contribute to such US Paying
Guarantor an amount equal to such US Non-Paying Guarantor’s “US Applicable Percentage” of such
payment or payments made, or losses suffered, by such US Paying Guarantor. For purposes of this
Article X, each US Non-Paying Guarantor’s “US Applicable Percentage” with respect to any
such payment or loss by a US Paying Guarantor shall be determined as of the date on which such
payment or loss was made by reference to the ratio of (i) such US Non-Paying Guarantor’s Maximum
Liability as of such date in respect of the US Guaranteed Obligations (without giving effect to any
right to receive, or obligation to make, any contribution hereunder) or, if such US Non-Paying
Guarantor’s Maximum Liability in respect of the US Guaranteed Obligations has not been determined,
the aggregate amount of all monies received by such US Non-Paying Guarantor from the US Borrower
after the date hereof (whether by loan, capital infusion or by other means) to (ii) the aggregate
Maximum Liability of all US Loan Guarantors hereunder in respect of the US Guaranteed Obligations
(including such US Paying Guarantor) as of such date (without giving effect to any right to
receive, or obligation to make, any contribution hereunder), or to the extent that a Maximum
Liability has not been determined for any US Loan Guarantor in respect of the US Guaranteed
Obligations, the aggregate amount of all monies received by such US Loan Guarantors from the US
Borrower after the date hereof (whether by loan, capital infusion or by other means). Nothing in
this provision shall affect any US Loan Guarantor’s several liability for the entire amount of the
US Guaranteed Obligations (up to such Loan Guarantor’s Maximum Liability in respect of the US
Guaranteed Obligations).

          (b) In the event any Loan Guarantor (a “Paying Guarantor”) shall make any payment or
payments under this Loan Guaranty in respect of the Netherlands Guaranteed Obligations or shall
suffer any loss as a result of any realization upon any collateral granted by it to secure its
obligations under this Loan Guaranty in respect of the Netherlands Guaranteed Obligations, each
other Loan Guarantor (each a “Non-Paying Guarantor”) shall contribute to such Paying
Guarantor an amount equal to such Non-Paying Guarantor’s “Applicable Percentage” of such payment or
payments made, or losses suffered, by such Paying Guarantor. For purposes of this Article X, each
Non-Paying Guarantor’s “Applicable Percentage” with respect to any such payment or loss by
a Paying Guarantor shall be determined as of the date on which such payment or loss was made by
reference to the ratio of (i) such Non-Paying Guarantor’s Maximum Liability as of such date in
respect of the Netherlands Guaranteed Obligations (without giving effect to any right to receive,
or obligation to make, any contribution hereunder) or, if such Non-Paying Guarantor’s Maximum
Liability in respect of the Netherlands Guaranteed Obligations has not been determined, the
aggregate amount of all monies received by such Non-Paying Guarantor from the Borrowers after the
date hereof (whether by loan, capital infusion or by other means) to (ii) the aggregate Maximum
Liability of all Loan Guarantors hereunder in respect of the Netherlands Guaranteed Obligations
(including such Paying Guarantor) as of such date (without giving effect to any right to receive,
or obligation to make, any contribution hereunder), or to the extent that a Maximum Liability in
respect of the Netherlands Guaranteed Obligations has not been determined for any Loan Guarantor,
the aggregate amount of all monies received by such Loan Guarantors from the Borrowers after the
date hereof (whether by loan, capital infusion or by other means). Nothing in this provision shall
affect any Loan Guarantor’s several liability for the entire amount of the Netherlands Guaranteed
Obligations (up to such Loan Guarantor’s Maximum Liability in respect of the Netherlands Guaranteed
Obligations).

          (c) Each of the Loan Guarantors covenants and agrees that its right to receive any
contribution under this Loan Guaranty from a US Paying Guarantor or Non-Paying Guarantor shall be
subordinate and junior in right of payment to the payment in full in cash of the Guaranteed
Obligations. This provision is for the benefit of both the Administrative Agent, the Issuing Bank,
the Lenders and the

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Loan Guarantors and may be enforced by any one, or more, or all of them in accordance with the
terms hereof.

          Section 10.12 Liability Cumulative. The liability of each Loan Party as a
Loan Guarantor under this Article X is in addition to and shall be cumulative with all liabilities
of each Loan Party to the Administrative Agent, the Issuing Bank and the Lenders under this
Agreement and the other Loan Documents to which such Loan Party is a party without any limitation
as to amount, unless the instrument or agreement evidencing or creating such other liability
specifically provides to the contrary.

          Section 10.13 Effect of Netherlands Civil Code. Notwithstanding the foregoing
provisions of this Section 10, no Loan Party residing or incorporated in The Netherlands shall, or
shall be deemed to, guarantee any Obligations or otherwise bind itself (whether by indemnification
or otherwise) to the extent that if included, such act would constitute unlawful financial
assistance within the meaning of Article 98c or 207c of Book 2 of the Netherlands Civil Code.

ARTICLE XI

The Borrower Representative

          Section 11.01 Appointment; Nature of Relationship. Libbey Glass Inc. is
hereby appointed by each of the Borrowers as its contractual representative (herein referred to as
the “Borrower Representative”) hereunder and under each other Loan Document, and each of
the Borrowers irrevocably authorizes the Borrower Representative to act as the contractual
representative of such Borrower with the rights and duties expressly set forth herein and in the
other Loan Documents. The Borrower Representative agrees to act as such contractual representative
upon the express conditions contained in this Article XI. The Administrative Agent and the
Lenders, and their respective officers, directors, agents or employees, shall not be liable to the
Borrower Representative or any Borrower for any action taken or omitted to be taken by the Borrower
Representative or the Borrowers pursuant to this Section 11.01.

          Section 11.02 Powers. The Borrower Representative shall have and may exercise
such powers under the Loan Documents as are specifically delegated to the Borrower Representative
by the terms of each thereof, together with such powers as are reasonably incidental thereto. The
Borrower Representative shall have no implied duties to the Borrowers, or any obligation to the
Lenders to take any action thereunder except any action specifically provided by the Loan Documents
to be taken by the Borrower Representative.

          Section 11.03 Employment of Agents. The Borrower Representative may execute
any of its duties as the Borrower Representative hereunder and under any other Loan Document by or
through authorized officers.

          Section 11.04 Notices. Each Borrower shall immediately notify the Borrower
Representative of the occurrence of any Default or Unmatured Default hereunder referring to this
Agreement describing such Default or Unmatured Default and stating that such notice is a “notice of
default.” In the event that the Borrower Representative receives such a notice, the Borrower
Representative shall give prompt notice thereof to the Administrative Agent and the Lenders. Any
notice provided to the Borrower Representative hereunder shall constitute notice to each Borrower
on the date received by the Borrower Representative.

          Section 11.05 Successor Borrower Representative. Upon the prior written
consent of the Administrative Agent, the Borrower Representative may resign at any time, such
resignation to be

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effective upon the appointment of a successor Borrower Representative. The Administrative
Agent shall give prompt written notice of such resignation to the Lenders.

          Section 11.06 Execution of Loan Documents; Borrowing Base Certificate. The
Borrowers hereby empower and authorize the Borrower Representative, on behalf of the Borrowers, to
execute and deliver to the Administrative Agent and the Lenders the Loan Documents and all related
agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect
the purposes of the Loan Documents, including without limitation, the Aggregate Borrowing Base
Certificate and the Borrowing Base Certificate of each Borrower and the Compliance Certificates.
Each Borrower agrees that any action taken by the Borrower Representative or the Borrowers in
accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the
Borrower Representative of its powers set forth therein or herein, together with such other powers
that are reasonably incidental thereto, shall be binding upon all of the Borrowers.

          Section 11.07 Reporting. Each Borrower hereby agrees that such Borrower shall
furnish promptly after each fiscal month to the Borrower Representative a copy of its Borrowing
Base Certificate and any other certificate or report required hereunder or requested by the
Borrower Representative on which the Borrower Representative shall rely to prepare the Aggregate
Borrowing Base Certificate and the Borrowing Base Certificate of each Borrower and Compliance
Certificates required pursuant to the provisions of this Agreement.

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

	 	 	 	 	 
	 	BORROWERS:

LIBBEY GLASS INC.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	LIBBEY EUROPE B.V.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	OTHER LOAN PARTIES:

LIBBEY INC.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	LGA3 CORP.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	THE DRUMMOND GLASS COMPANY

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	LGA4 CORP.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	SYRACUSE CHINA COMPANY

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	LGFS INC.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	WORLD TABLEWARE INC.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	TRAEX COMPANY

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	LGC CORP.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	LGAC LLC

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 
	 
	 	LIBBEY.COM LLC

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Vice President, General Counsel & Secretary 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	LIBBEY INTERNATIONAL C.V.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Attorney In Fact 	 
	 
	 	B.V. KONINKLIJKE NEDERLANDSE GLASFABRIEK LEERDAM

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	LIBBEY EUROPE FINANCE COMPANY B.V.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	LIBBEY MEXICO HOLDINGS B.V.

 	 
	 	By:  	/s/ Susan Allene Kovach
 	 
	 	 	Name:  	Susan Allene Kovach 	 
	 	 	Title:  	Authorized Signatory 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., individually, as

Administrative Agent, Issuing Bank and Swingline

Lender with respect to the US Loans

 	 
	 	By:  	/s/ Matthew A. Brewer
 	 
	 	 	Name:  	Matthew A. Brewer 	 
	 	 	Title:  	Vice President 	 
	 
	 	J.P. MORGAN EUROPE LIMITED., individually, as

Administrative Agent, Issuing Bank and Swingline

Lender with respect to the Netherlands Loans

 	 
	 	By:  	/s/ Tim Jacob
 	 
	 	 	Name:  	Tim Jacob 	 
	 	 	Title:  	Senior Vice President 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as a Lender

 	 
	 	By:  	/s/ Marina Kheylik
 	 
	 	 	Name:  	Marina Kheylik 	 
	 	 	Title:  	AVP, AB Portfolio Specialist 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	BARCLAYS BANK PLC,

as a Lender

 	 
	 	By:  	/s/ Craig Malloy
 	 
	 	 	Name:  	Craig Malloy 	 
	 	 	Title:  	Director 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	WACHOVIA CAPITAL FINANCE CORPORATION
(NEW ENGLAND), as a Lender

 	 
	 	By:  	/s/ Matt Harbour
 	 
	 	 	Name:  	Matt Harbour 	 
	 	 	Title:  	Vice President 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

	 	 	 	 	 
	 	FIFTH THIRD BANK,

as a Lender

 	 
	 	By:  	/s/ James Conklin
 	 
	 	 	Name:  	James Conklin 	 
	 	 	Title:  	Assistant Vice President 	 

Signature Page to the Amended and Restated Credit Agreement

 

 

Commitment Schedule

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Revolving	 
	Lender	 	Commitment	 	 	Netherlands Sublimit	 
	JPMorgan Chase Bank, N.A.
	 	US$	27,500,000.00	 	 	US$	5,000,000.00	 
	Bank of America, N.A.
	 	US$	23,750,000.00	 	 	US$	4,318,181.82	 
	Barclays Bank PLC
	 	US$	20,000,000.00	 	 	US$	3,636,363.64	 
	Wachovia Capital Finance
Corporation (New England)
	 	US$	23,750,000.00	 	 	US$	4,318,181.82	 
	Fifth Third Bank
	 	US$	15,000,000.00	 	 	US$	2,727,272.72	 
	 
	 	 	 	 	 	 
	Total
	 	US$	110,000,000.00	 	 	US$	20,000,000.00	 
	 
	 	 	 	 	 	 

 

 

Schedule 3.05

Properties

I. Owned and Leased Real Property

	 	 	 	 	 
	Loan Party	 	Addresses of Owned Properties	 	Non-Mortgaged Property
	Libbey Glass Inc.

	 	940 Ash Street

Toledo, OH 43611
	 	No
	Libbey Glass Inc.

	 	1600 Justo Penn Road

Laredo, TX 78041
	 	Yes
	Libbey Glass Inc.

	 	4302 Jewella Road

Shreveport, LA 71109
	 	No
	Syracuse China Company

	 	2900 Court Street

Syracuse, NY 13208
	 	Yes
	Traex Company

	 	101 Traex Plaza

Dane, WI 53529
	 	No
	B.V. Koninklijke
Nederlandsche
Glasfabriek Leerdam

	 	Lingedijk 8, 4142 LD

Leerdam, the Netherlands
	 	No

	 	 	 
	Loan Party	 	Addresses of Leased Properties
	Libbey Glass Inc.

	 	300 Madison Avenue

Toledo, OH 43604
	Libbey Glass Inc.

	 	1401 Champlain Street

Toledo, OH 43604
	Libbey Glass Inc.

	 	335 N. St. Clair 

Toledo, OH 43604
	Libbey Glass Inc.

	 	7401 Fremont Pike

Perrysburg, OH 43551
	Libbey Glass Inc.

	 	5001 Greenwood Road

Shreveport, LA 71009
	Libbev Glass Inc.

	 	41 Madison Avenue. 9th Floor

New York, NY 10010
	Libbey Glass Inc.

	 	8900 San Mateo Drive

Laredo, TX 78042
	Libbey Glass Inc.

	 	2709 S.E. “I” Street

Bentonville, AR
	The Drummond Glass Company

	 	205 S. Erie Street

Toledo, OH 43602
	World Tableware Inc.

	 	1850 Blackhawk Dr.

W. Chicago, IL 60185
	B.V. Koninklijke Nederlandsche

Glasfabriek Leerdam

	 	Lingedijk 8, 4142 LD Leerdam

The Netherlands
	B.V. KoninkIrke
Nederlandsche
Glasfabriek Leerdarn

	 	Franklinweg 6, 4207HZ Gorinehem

The Netherlands

 

 

II. Intellectual Property

A. Trademarks and Trademark Applications

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Trademarks, Trade Names and Service Marks	 	Registration 
Number	 	Status	 	Date of 
Registration	 	ExpDate	 	Country
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Loan Party: Libbey Glass Inc.
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	VIVA GRANDE

	 	 	1564590	 	 	REGISTERED
	 	11/7/89
	 	11/7/09
	 	USA
	DURATUFF

	 	 	1131831	 	 	REGISTERED
	 	3/11/80
	 	3/11/10
	 	USA
	SAFEDGE

	 	 	522529	 	 	REGISTERED
	 	3/21/50
	 	3/21/10
	 	USA
	PRISM (GLASSWARE)

	 	 	2,330,497	 	 	REGISTERED
	 	3/21/00
	 	3/21/10
	 	USA
	GIBRALTAR (DINNERWARE)

	 	 	2,355,388	 	 	REGISTERED
	 	6/6/00
	 	6/6/10
	 	USA
	FACETS

	 	 	2,443,873	 	 	REGISTERED
	 	4/17/01
	 	4/17/11
	 	USA
	CHIVALRY

	 	 	1173311	 	 	REGISTERED
	 	10/13/81
	 	10/13/11
	 	USA
	EMBASSY

	 	 	1178202	 	 	REGISTERED
	 	11/17/81
	 	11/17/11
	 	USA
	FINEDGE

	 	 	1193209	 	 	REGISTERED
	 	4/6/82
	 	4/6/12
	 	USA
	NOB HILL

	 	 	2663144	 	 	REGISTERED
	 	12/17/02
	 	12/17/12
	 	USA
	CATALINA

	 	 	2669061	 	 	REGISTERED
	 	12/31/02
	 	12/31/12
	 	USA
	QUANTUM (FLATWARE)

	 	 	2669104	 	 	REGISTERED
	 	12/31/02
	 	12/31/12
	 	USA
	GIBRALTAR

	 	 	1224292	 	 	REGISTERED
	 	1/18/83
	 	1/18/13
	 	USA
	GOVERNOR CLINTON

	 	 	2704223	 	 	REGISTERED
	 	4/8/03
	 	4/8/13
	 	USA
	GIBRALTAR (FLATWARE)

	 	 	2709190	 	 	REGISTERED
	 	4/22/03
	 	4/22/13
	 	USA
	BOLLA GRANDE

	 	 	1248379	 	 	REGISTERED
	 	8/16/83
	 	8/16/13
	 	USA
	RESTAURANT BASICS (GLASSWARE)

	 	 	2,764,560	 	 	REGISTERED
	 	9/16/03
	 	9/16/13
	 	USA
	RESTAURANT SUPPLIES TO GO

	 	 	3,687,479	 	 	REGISTERED
	 	 	 	9/22/13
	 	USA
	OMEGA

	 	 	2809251	 	 	REGISTERED
	 	1/27/04
	 	1/27/14
	 	USA
	VENUS

	 	 	2815596	 	 	REGISTERED
	 	2/17/04
	 	2/17/14
	 	USA
	CLUBHOUSE COLLECTION

	 	 	2859370	 	 	REGISTERED
	 	7/6/04
	 	7/6/14
	 	USA
	MARGARINI

	 	 	2875403	 	 	REGISTERED
	 	8/17/04
	 	8/17/14
	 	USA
	BRAVURA

	 	 	2884004	 	 	REGISTERED
	 	9/14/04
	 	9/14/14
	 	USA
	TIKIWARE

	 	 	2889973	 	 	REGISTERED
	 	9/28/04
	 	9/28/14
	 	USA
	SATIN GIBRALTAR

	 	 	3,069,269	 	 	REGISTERED
	 	3/14/06
	 	3/14/16
	 	USA
	POLYTUFF

	 	 	3,077,591	 	 	REGISTERED
	 	4/4/06
	 	4/4/16
	 	USA
	DAKOTA

	 	 	2,025,945	 	 	REGISTERED
	 	12/24/96
	 	12/24/16
	 	USA
	STATUS

	 	 	2,044,121	 	 	REGISTERED
	 	3/11/97
	 	3/11/17
	 	USA
	LIBBEY

	 	 	834728	 	 	REGISTERED
	 	9/5/67
	 	9/5/17
	 	USA
	L IN CIRCLE

	 	 	651483	 	 	REGISTERED
	 	9/10/97
	 	9/10/17
	 	USA
	SHEER RIM AND DESIGN

	 	 	849814	 	 	REGISTERED
	 	5/28/68
	 	5/28/18
	 	USA
	FIESTA GRANDE

	 	 	1093807	 	 	REGISTERED
	 	6/20/78
	 	6/20/18
	 	USA
	LIBBEY.COM

	 	 	2,286,310	 	 	REGISTERED
	 	10/12/99
	 	10/12/19
	 	USA
	GIBRALTAR (DINNERWARE)

	 	 	2355388	 	 	REGISTERED
	 	6/16/00
	 	6/6/10
	 	USA
	WINE MASTER

	 	 	78/805067	 	 	APPLN FILED
	 	 	 	 	 	USA
	LIBBEY

	 	 	B64/2502	 	 	REGISTERED
	 	5/14/65
	 	7/20/04
	 	SOAF

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
		 	Registration	 	 	 	Date of	 	 	 	 
	Trademarks, Trade Names and Service Marks	 	Number	 	Status	 	Registration	 	ExpDate	 	Country
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	LIBBEY

	 	 	265556	 	 	REGISTERED
	 	3/23/90
	 	3/22/15
	 	COLO
	LIBBEY

	 	 	51.646	 	 	REGISTERED
	 	7/20/66
	 	7/20/06
	 	VENZ
	LIBBEY

	 	 	51.649	 	 	REGISTERED
	 	7/21/66
	 	7/21/06
	 	VENZ
	SAFEDGE

	 	 	355788	 	 	REGISTERED
	 	11/18/33
	 	5/12/19
	 	CAND
	LIBBEY

	 	 	57625	 	 	REGISTERED
	 	4/15/99
	 	5/31/09
	 	GUAT
	SAFEDGE

	 	 	5724	 	 	REGISTERED
	 	9/22/67
	 	9/22/09
	 	BERM
	SAFEDGE

	 	 	B4443	 	 	REGISTERED
	 	3/7/69
	 	10/5/09
	 	TRIN
	L IN CIRCLE

	 	 	30287	 	 	REGISTERED
	 	9/9/91
	 	11/22/09
	 	CYPR
	LIBBEY

	 	 	30286	 	 	REGISTERED
	 	11/22/88
	 	11/22/09
	 	CYPR
	L IN CIRCLE

	 	 	47020	 	 	REGISTERED
	 	11/23/89
	 	11/23/09
	 	PHIL
	LIBBEY

	 	 	1718720	 	 	REGISTERED
	 	12/19/89
	 	12/19/09
	 	FRAN
	LIBBEY

	 	 	00926016	 	 	REGISTERED
	 	4/19/01
	 	4/15/20
	 	TAIW
	LIBBEY

	 	 	00889777	 	 	REGISTERED
	 	4/15/01
	 	4/15/20
	 	TAIW
	L IN CIRCLE

	 	 	1077	 	 	REGISTERED
	 	11/9/70
	 	11/9/10
	 	VENZ
	LIBBEY

	 	 	42/1119	 	 	REGISTERED
	 	11/28/00
	 	11/28/10
	 	SOAF
	LIBBEY

	 	 	00017334	 	 	REGISTERED
	 	10/21/03
	 	11/30/10
	 	MASA
	LIBBEY

	 	 	21048	 	 	REGISTERED
	 	1/12/01
	 	1/11/11	 	 
	LIBBEY

	 	 	D00-200101404-1405	 	 	REGISTERED
	 	12/8/05
	 	1/25/11
	 	INDN
	LIBBEY

	 	TM148315
	 	REGISTERED
	 	12/7/00
	 	2/5/11
	 	THAI
	LIBBEY

	 	 	64.468-F	 	 	REGISTERED
	 	4/13/71
	 	4/13/11
	 	VENZ
	LIBBEY

	 	 	 	 	 	REGISTERED
	 	9/2/02
	 	4/14/11
	 	UAE
	LIBBEY

	 	 	669/74	 	 	REGISTERED
	 	9/26/03
	 	9/26/11
	 	SAUD
	LIBBEY

	 	 	54663	 	 	REGISTERED
	 	11/27/91
	 	11/27/11
	 	PANA
	LIBBEY

	 	 	533/91	 	 	REGISTERED
	 	9/10/92
	 	1/25/12
	 	HOKO
	LIBBEY

	 	 	8800324	 	 	REGISTERED
	 	3/4/02
	 	1/31/12
	 	SWED
	LIBBEY

	 	 	78996	 	 	REGISTERED
	 	12/20/93
	 	2/13/12
	 	ISRA
	LIBBEY

	 	 	864/1972	 	 	REGISTERED
	 	3/17/72
	 	3/17/12
	 	DENM
	LIBBEY

	 	 	21/267	 	 	REGISTERED
	 	3/21/91
	 	3/21/12
	 	JAMA
	SAFEDGE

	 	 	 	 	 	REGISTERED
	 	5/8/02
	 	5/8/12
	 	NETH
	LIBBEY

	 	 	 	 	 	REGISTERED
	 	5/8/02
	 	5/8/12
	 	NETH
	LIBBEY

	 	 	2000/17374	 	 	REGISTERED
	 	5/18/02
	 	5/18/12
	 	TURK
	LIBBEY

	 	 	223024	 	 	REGISTERED
	 	2/10/03
	 	2/24/13
	 	CHIL
	LIBBEY

	 	 	223025	 	 	REGISTERED
	 	2/24/03
	 	2/24/13
	 	CHIL
	LIBBEY GLASS INC.

	 	 	970100060	 	 	REGISTERED
	 	4/21/03
	 	4/20/13
	 	CHIN
	LIBBEY

	 	 	 	 	 	REGISTERED
	 	2/23/66
	 	7/21/13
	 	ZEAL
	LIBBEY

	 	 	15467/1992	 	 	REGISTERED
	 	12/12/03
	 	9/13/13
	 	SOKO
	LIBBEY

	 	 	816624984	 	 	REGISTERED
	 	11/3/93
	 	11/3/13
	 	BRAZ
	LIBBEY

	 	 	00012-99	 	 	REGISTERED
	 	5/16/99
	 	7/9/14
	 	ECUD
	LIBBEY

	 	 	4355	 	 	REGISTERED
	 	4/10/95
	 	10/21/14
	 	MEXO
	LIBBEY

	 	 	2000352	 	 	REGISTERED
	 	10/24/04
	 	11/1/14
	 	BRIT
	LIBBEY

	 	 	12657	 	 	REGISTERED
	 	3/20/95
	 	1/20/15
	 	PERU
	LIBBEY

	 	 	209.444	 	 	REGISTERED
	 	3/4/85
	 	3/4/15
	 	SWIT
	LIBBEY

	 	 	123463	 	 	REGISTERED
	 	5/16/92
	 	3/17/15
	 	GREC
	LIBBEY

	 	 	452.599	 	 	REGISTERED
	 	5/13/95
	 	5/13/15
	 	SPAN

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
		 	Registration	 	 	 	Date of	 	 	 	 
	Trademarks, Trade Names and Service Marks	 	Number	 	Status	 	Registration	 	ExpDate	 	Country
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	LIBBEY

	 	 	91,278	 	 	REGISTERED
	 	5/15/95
	 	5/15/15
	 	CORI
	LIBBEY

	 	 	41243	 	 	REGISTERED
	 	10/31/72
	 	7/5/15
	 	BENL
	LIBBEY

	 	 	721511-1995	 	 	REGISTERED
	 	7/26/05
	 	7/6/15
	 	JAPN
	LIBBEY

	 	 	14226	 	 	REGISTERED
	 	7/22/65
	 	7/22/15
	 	DORE
	HT IN A STAR

	 	 	754652	 	 	REGISTERED
	 	8/6/85
	 	8/6/15
	 	FRAN
	SAFEDGE

	 	 	754651	 	 	REGISTERED
	 	8/6/85
	 	8/6/15
	 	FRAN
	LIBBEY

	 	 	139852	 	 	REGISTERED
	 	11/8/95
	 	9/5/15
	 	FINL
	SAFEDGE

	 	 	726902-1995	 	 	REGISTERED
	 	7/26/05
	 	10/25/15
	 	JAPN
	SAFEDGE

	 	 	37210	 	 	REGISTERED
	 	11/12/85
	 	11/12/15
	 	PANA
	LIBBEY

	 	 	59110	 	 	REGISTERED
	 	10/3/85
	 	11/16/15
	 	CHIL
	LIBBEY

	 	 	182.345	 	 	REGISTERED
	 	1/25/96
	 	11/21/15
	 	PARA
	LIBBEY

	 	 	E-53725/05	 	 	REGISTERED
	 	12/13/90
	 	2/14/16
	 	ELSA
	LIBBEY

	 	 	T17735	 	 	REGISTERED
	 	3/8/08
	 	4/3/16
	 	INDA
	E-SERIES

	 	 	1109930	 	 	REGISTERED
	 	8/21/06
	 	4/24/16
	 	AUST
	E-COLLECTION

	 	 	2006/18823	 	 	REGISTERED
	 	7/31/07
	 	4/26/16
	 	TURK
	E-SERIES

	 	 	2006/18824	 	 	APPLN FILED
	 	4/26/06
	 	4/26/16
	 	TURK
	SAFEDGE

	 	 	162126	 	 	REGISTERED
	 	7/21/56
	 	7/21/16
	 	SWIT
	LIBBEY

	 	 	960817	 	 	REGISTERED
	 	3/14/97
	 	3/13/17
	 	CHIN
	LIBBEY

	 	 	14041	 	 	REGISTERED
	 	4/12/67
	 	4/12/17
	 	HOND
	REGISTERED

	 	LIBBEY
	 	REGISTERED
	 	1/2/86
	 	5/7/17
	 	LGI
	SAFEDGE

	 	 	67/3844	 	 	REGISTERED
	 	5/5/97
	 	9/5/17
	 	SOAF
	SAFEDGE

	 	 	852,076	 	 	REGISTERED
	 	11/21/68
	 	9/6/17
	 	GERM
	HT IN A STAR

	 	 	240955	 	 	REGISTERED
	 	12/6/02
	 	12/6/17
	 	CAND
	LIBBEY

	 	 	168164	 	 	REGISTERED
	 	7/14/06
	 	12/18/17
	 	PAKI
	LIBBEY

	 	 	548984	 	 	REGISTERED
	 	11/10/92
	 	1/16/18
	 	AUST
	LIBBEY

	 	 	S/871/91	 	 	REGISTERED
	 	2/14/98
	 	2/14/18
	 	SING
	L IN CIRCLE

	 	 	1450534	 	 	REGISTERED
	 	5/29/69
	 	2/18/18
	 	FRAN
	L IN CIRCLE

	 	 	110378	 	 	REGISTERED
	 	5/30/03
	 	5/30/18
	 	CAND
	LIBBEY

	 	 	00930398	 	 	REGISTERED
	 	4/19/01
	 	9/30/18
	 	TAIW
	LIBBEY

	 	 	00819919	 	 	REGISTERED
	 	4/19/01
	 	9/30/18
	 	TAIW
	L IN CIRCLE

	 	 	1234565	 	 	REGISTERED
	 	12/28/98
	 	12/27/18
	 	CHIN
	LIBBEY

	 	 	593616	 	 	REGISTERED
	 	5/12/89
	 	5/12/19
	 	CAND
	SAFEDGE

	 	 	593615	 	 	REGISTERED
	 	6/9/89
	 	5/12/19
	 	CAND
	E-SERIES

	 	 	5317087	 	 	REGISTERED
	 	7/14/09
	 	7/14/19
	 	CHIN
	LIBBEY

	 	 	32830	 	 	REGISTERED
	 	 	 	1/22/22
	 	BERM
	LIBBEY

	 	 	 	 	 	APPLN FILED
	 	 	 	 	 	GUYA
	LIBBEY

	 	 	 	 	 	APPLN FILED
	 	 	 	 	 	SURI
	LIBBEY IN CHINESE

	 	 	970100060	 	 	APPLN FILED
	 	 	 	 	 	CHIN
	LIBBEY

	 	 	 	 	 	APPLN FILED
	 	12/7/00
	 	 	 	EGYP
	LIBBEY

	 	 	6768	 	 	REGISTERED
	 	 	 	 	 	VIR
	QUANTUM (DINNERWARE)

	 	 	76/395103	 	 	REGISTERED
	 	1/21/03
	 	1/21/13
	 	USA
	PRISM (DINNERWARE)

	 	 	76/376778	 	 	REGISTERED
	 	7/15/03
	 	7/15/13
	 	USA
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Loan Party: Syracuse China Company
	 	 	 	 	 	 	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
		 	Registration	 	 	 	Date of	 	 	 	 
	Trademarks, Trade Names and Service Marks	 	Number	 	Status	 	Registration	 	ExpDate	 	Country
	BROOKLINE

	 	 	1,472,331	 	 	REGISTERED
	 	1/12/88
	 	1/12/08
	 	USA
	PALOMINO

	 	 	1,175,252	 	 	REGISTERED
	 	10/27/81
	 	10/27/11
	 	USA
	SHENANGO

	 	 	555,636	 	 	REGISTERED
	 	 	 	3/4/12
	 	USA
	CAFÉ ROYAL

	 	 	2669056	 	 	REGISTERED
	 	12/31/02
	 	12/31/12
	 	USA
	QUADRA

	 	 	2669057	 	 	REGISTERED
	 	12/31/02
	 	12/31/12
	 	USA
	COOL ‘N ARTS

	 	 	2678676	 	 	REGISTERED
	 	1/21/03
	 	1/21/13
	 	USA
	EMINENCE

	 	 	2698247	 	 	REGISTERED
	 	3/18/03
	 	3/18/13
	 	USA
	CHABLIS (CHINA DINNERWARE)

	 	 	2775359	 	 	REGISTERED
	 	10/21/03
	 	10/21/13
	 	USA
	TUXEDO GOLD

	 	 	761,336	 	 	REGISTERED
	 	 	 	12/10/13
	 	USA
	REPETITION

	 	 	2826508	 	 	REGISTERED
	 	3/23/04
	 	3/23/14
	 	USA
	CASABLANCA

	 	 	1,292,327	 	 	REGISTERED
	 	8/28/84
	 	8/28/14
	 	USA
	CANTINA (FLATWARE)

	 	 	2881267	 	 	REGISTERED
	 	9/7/04
	 	9/7/14
	 	USA
	CINNAMON

	 	 	1,336,722	 	 	REGISTERED
	 	5/21/85
	 	5/21/15
	 	USA
	SYRACUSE

	 	 	104,744	 	 	REGISTERED
	 	10/10/95
	 	6/15/15
	 	USA
	SERRANO

	 	 	2982235	 	 	REGISTERED
	 	8/2/05
	 	8/2/15
	 	USA
	SYRALITE

	 	 	798,393	 	 	REGISTERED
	 	3/2/06
	 	11/2/15
	 	USA
	KING’S INN

	 	 	1,026,786	 	 	REGISTERED
	 	12/9/75
	 	12/9/15
	 	USA
	OCTET

	 	 	5662978	 	 	REGISTERED
	 	2/28/06
	 	2/28/16
	 	USA
	PATRICIAN

	 	 	1,394,111	 	 	REGISTERED
	 	5/20/86
	 	5/20/16
	 	USA
	OYSTER BAY

	 	 	1,394,908	 	 	REGISTERED
	 	5/27/86
	 	5/27/16
	 	USA
	ARDEN

	 	 	1,395,741	 	 	REGISTERED
	 	6/3/86
	 	6/3/16
	 	USA
	MONTLYNN

	 	 	1,395,740	 	 	REGISTERED
	 	6/3/86
	 	6/3/16
	 	USA
	OAKTON

	 	 	1,395,739	 	 	REGISTERED
	 	6/3/86
	 	6/3/16
	 	USA
	MESA GRANDE

	 	 	1,055,595	 	 	REGISTERED
	 	 	 	1/4/17
	 	USA
	CANTINA

	 	 	2,137,547	 	 	REGISTERED
	 	2/17/98
	 	2/17/18
	 	USA
	SLENDA

	 	 	3393376	 	 	REGISTERED
	 	3/4/08
	 	3/4/18
	 	USA
	TANGULAR

	 	 	77/456,603	 	 	REGISTERED
	 	8/18/09
	 	8/18/19
	 	USA
	RESONATE

	 	 	77/907591	 	 	APPLN FILED
	 	1/8/10
	 	 	 	USA
	ECOWARE

	 	 	77/485,219	 	 	APPLN FILED
	 	 	 	 	 	USA
	TERRACOTTA

	 	 	77/923,187	 	 	APPLN FILED
	 	 	 	 	 	USA
	HIGHLIGHTER

	 	 	77/923,205	 	 	APPLN FILED
	 	 	 	 	 	USA
	ESQUIRE (FLATWARE)

	 	 	3105850	 	 	REGISTERED
	 	6/20/06
	 	6/20/16
	 	USA
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Loan Party: World Tableware Inc.
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	AMULET

	 	 	2663154	 	 	REGISTERED
	 	12/17/02
	 	12/17/12
	 	USA
	BB LOGO AND DESIGN

	 	 	1,262,229	 	 	REGISTERED
	 	12/27/83
	 	12/27/13
	 	USA
	BRANDWARE

	 	 	1,173,950	 	 	REGISTERED
	 	10/20/81
	 	10/20/11
	 	USA
	CONTEMPRA

	 	 	2760370	 	 	REGISTERED
	 	9/2/03
	 	9/2/13
	 	USA
	EVEREST

	 	 	2,784,832	 	 	REGISTERED
	 	11/18/03
	 	11/18/13
	 	USA
	GLENBROOK

	 	 	2776703	 	 	REGISTERED
	 	10/21/03
	 	10/21/13
	 	USA
	PESCE

	 	 	2889974	 	 	REGISTERED
	 	5/14/03
	 	9/28/14
	 	USA
	SKOAL

	 	 	2721149	 	 	REGISTERED
	 	6/3/03
	 	6/3/13
	 	USA
	ULTIMA

	 	 	1,180,217	 	 	REGISTERED
	 	12/1/81
	 	12/1/11
	 	USA
	WORLD (SILVER & PLATED TABLEWARE)

	 	 	0,040,724	 	 	REGISTERED
	 	7/7/03
	 	7/7/13
	 	USA

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
		 	Registration	 	 	 	Date of	 	 	 	 
	Trademarks, Trade Names and Service Marks	 	Number	 	Status	 	Registration	 	ExpDate	 	Country
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	WORLD (STAINLESS STEEL FLATWARE)

	 	 	994,264	 	 	REGISTERED
	 	 	 	10/1/14
	 	USA
	BB LOGO & DESIGN

	 	 	281,790	 	 	REGISTERED
	 	 	 	7/29/13
	 	CAND
	BRANDWARE

	 	 	255,597	 	 	REGISTERED
	 	2/6/81
	 	2/6/11
	 	CAND
	CROMWELL

	 	 	437,152	 	 	REGISTERED
	 	 	 	 	 	CAND
	THE MILLENNIUM COLLECTION

	 	 	75/590,343	 	 	APPLN FILED
	 	 	 	 	 	USA
	AMSILCO

	 	 	 	 	 	APPLN FILED
	 	 	 	 	 	CHIN
	WORLD (FLATWARE)

	 	 	 	 	 	APPLN FILED
	 	 	 	 	 	CHIN
	ULTIMA

	 	 	 	 	 	APPLN FILED
	 	 	 	 	 	CHIN
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Loan Party: Traex Company
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	BATTER BOSS

	 	 	1,657,443	 	 	REGISTERED
	 	9/17/91
	 	9/17/11
	 	USA
	DRIPCUT

	 	 	373,123	 	 	REGISTERED
	 	11/28/39
	 	11/28/19
	 	USA
	CHOICE CUT

	 	 	2,286,711	 	 	REGISTERED
	 	10/12/99
	 	10/12/19
	 	USA
	CLEAN CUT

	 	 	2785074	 	 	REGISTERED
	 	11/18/03
	 	11/18/13
	 	USA
	KONDI-KEEPER

	 	 	1,673,006	 	 	REGISTERED
	 	1/21/92
	 	1/21/12
	 	USA
	MAKING THE ORDINARY EXTRAORDINARY

	 	 	2789726	 	 	REGISTERED
	 	12/2/03
	 	12/2/13
	 	USA
	PLATE CRATE

	 	 	2,007,086	 	 	REGISTERED
	 	10/8/96
	 	10/8/16
	 	USA
	RACK MAX

	 	 	2664502	 	 	REGISTERED
	 	12/17/02
	 	12/17/12
	 	USA
	RACK-MASTER

	 	 	1,605,589	 	 	REGISTERED
	 	7/10/90
	 	7/10/10
	 	USA
	SAUCE BOSS

	 	 	1,642,449	 	 	REGISTERED
	 	4/23/91
	 	4/23/11
	 	USA
	SPICE BOSS

	 	 	2849301	 	 	REGISTERED
	 	6/1/04
	 	6/1/14
	 	USA
	STRAW BOSS

	 	 	1,651,525	 	 	REGISTERED
	 	7/23/91
	 	7/23/11
	 	USA
	TRAEX

	 	 	1,700,599	 	 	REGISTERED
	 	7/14/92
	 	7/14/12
	 	USA
	TUFFEX

	 	 	1,706,831	 	 	REGISTERED
	 	8/11/92
	 	8/11/12
	 	USA
	CUPPRO

	 	 	3,050,710	 	 	REGISTERED
	 	1/24/06
	 	1/24/12
	 	USA
	TWISTER

	 	 	3,613,840	 	 	REGISTERED
	 	4/28/09
	 	4/28/15
	 	USA
	SAFETY MATE ICE PORTER

	 	 	3,341,094	 	 	REGISTERED
	 	11/20/07
	 	11/20/17
	 	USA
	SAFETY MATE

	 	 	3,172,410	 	 	REGISTERED
	 	11/14/06
	 	11/14/16
	 	USA
	INSTA CHILL

	 	 	3710112	 	 	REGISTERED
	 	11/10/09
	 	11/10/19
	 	USA
	DRIPCUT

	 	UCA12026
	 	REGISTERED
	 	2/22/99
	 	2/13/14
	 	CAND

B. Patents and Patent Applications

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	Expiration	 	 
	Patent	 	Status	 	Date	 	Patent Number	 	Date	 	Country
	 
	 	 	 	 	 	 	 	 	 	 
	Loan Party: Libbey Glass Inc.
	 	 	 	 	 	 	 	 	 	 
	SYSCO ROCKS — ITEMS 15611, 15612
	 	ISSUED	 	6/18/96	 	D 370,830	 	6/18/10	 	USA
	JACKPOT MUG, ITEM 97336
	 	ISSUED	 	11/19/96	 	D 375,656	 	11/19/10	 	USA
	DAKOTA TUMBLER, ITEM 15605
	 	ISSUED	 	5/7/96	 	D 369518	 	5/7/10	 	USA
	SYSCO ITEMS 15613-15614
	 	ISSUED	 	6/4/96	 	D 370,389	 	6/4/10	 	USA
	DAKOTA ITEMS 15603-15604
	 	ISSUED	 	5/7/96	 	D 369,519	 	5/7/10	 	USA
	OLYMPIA ITEM 2437
	 	ISSUED	 	1/24/95	 	D 371,935	 	7/23/10	 	USA
	DOMAINE ITEM 8957, 8995
	 	ISSUED	 	6/11/96	 	D 370,597	 	6/11/10	 	USA

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	Expiration	 	 
	Patent	 	Status	 	Date	 	Patent Number	 	Date	 	Country
	 
	 	 	 	 	 	 	 	 	 	 
	MODERNE GLASS MUG
	 	ISSUED	 	9/2/97	 	D 383,039	 	9/2/11	 	USA
	OLYMPIA ITEM 2436
	 	ISSUED	 	7/9/96	 	D 371,490	 	7/9/10	 	USA
	CACTUS GLASS ITEM 3619JS, 3620JS
	 	ISSUED	 	7/8/97	 	D 380,646	 	7/8/11	 	USA
	SQUIRE COOLER, ITEM 5631
	 	ISSUED	 	1/20/98	 	D 389,375	 	1/20/12	 	USA
	BASKETBALL STEM, ITEM 3636
	 	ISSUED	 	3/24/98	 	D 392,507	 	3/24/12	 	USA
	SOCCER BALL STEM, ITEM 3630
	 	ISSUED	 	12/16/97	 	D 387,615	 	12/16/11	 	USA
	FOOTBALL STEM, ITEM 3631
	 	ISSUED	 	12/16/97	 	D 387,614	 	12/16/11	 	USA
	BASEBALL STEM, ITEM 3632
	 	ISSUED	 	12/16/97	 	D 387,613	 	12/16/11	 	USA
	GOLF BALL STEM, ITEM 3633
	 	ISSUED	 	12/16/97	 	D 387,612	 	12/16/11	 	USA
	DICE STEM, ITEM 3634
	 	ISSUED	 	12/16/97	 	D 387,616	 	12/16/11	 	USA
	GUITAR STEM, ITEM 3637
	 	ISSUED	 	1/13/98	 	D 389,013	 	1/13/12	 	USA
	DOLLAR SIGN, ITEM 3635
	 	ISSUED	 	12/16/97	 	D 387,611	 	12/16/11	 	USA
	SQUIRE ITEM 5630
	 	ISSUED	 	9/15/98	 	D 398,189	 	9/15/12	 	USA
	HOCKEY STEM
	 	ISSUED	 	10/20/98	 	D 399,700	 	10/20/12	 	USA
	TENNIS BALL STEM
	 	ISSUED	 	11/3/98	 	D 400,395	 	12/16/11	 	USA
	CANTINA ITEM 5687
	 	ISSUED	 	3/30/99	 	D 407,270	 	3/30/13	 	USA
	CLARION
	 	ISSUED	 	10/26/99	 	D 415,655	 	10/26/13	 	USA
	PARKSIDE STEMWARE
	 	ISSUED	 	9/23/98	 	D 418,370	 	1/4/14	 	USA
	WATER GLASS, ITEM 15639
	 	ISSUED	 	8/29/00	 	D429,958	 	8/29/14	 	USA
	GIBRALTAR (FLATWARE)
	 	ISSUED	 	8/29/00	 	D429,951	 	8/29/14	 	USA
	JAVA (FLATWARE)
	 	ISSUED	 	12/14/00	 	D 434,274	 	11/28/14	 	USA
	QUANTUM (GLASS)
	 	ISSUED	 	5/9/00	 	424,377	 	5/9/14	 	USA
	2000 STEM, ITEM 3699
	 	ISSUED	 	5/2/00	 	D423,874	 	5/2/14	 	USA
	2001 STEMWARE
	 	ISSUED	 	2/5/02	 	D453,282 S	 	2/5/16	 	USA
	STRATUS (GLASS)
	 	ISSUED	 	8/29/00	 	D429,960	 	8/29/14	 	USA
	QUANTUM (FLATWARE)
	 	ISSUED	 	12/14/00	 	D 434,281	 	11/28/14	 	USA
	ELLIPTIC (FLATWARE)
	 	ISSUED	 	2/27/01	 	D 438,058S	 	2/27/15	 	USA
	INFUSION (FLATWARE)
	 	ISSUED	 	2/27/01	 	D 438,057S	 	2/27/15	 	USA
	GIBRALTAR (BOWL)
	 	ISSUED	 	11/20/01	 	D450,538	 	11/20/15	 	USA
	GIBRALTAR (PLATE)
	 	ISSUED	 	11/20/01	 	D450,539	 	11/20/15	 	USA
	GIBRALTAR (PLATTER)
	 	ISSUED	 	12/18/01	 	D452,118	 	12/18/15	 	USA
	GIBRALTAR (MUG)
	 	ISSUED	 	11/6/01	 	D449,964	 	11/6/15	 	USA
	GIBRALTAR (CUP)
	 	ISSUED	 	12/5/00	 	D 434,603	 	12/5/14	 	USA
	GIBRALTAR (DISH)
	 	ISSUED	 	12/4/01	 	D451,348	 	12/4/15	 	USA
	PERCEPTION (GLASSES)
	 	ISSUED	 	3/12/02	 	D454,278	 	3/12/16	 	USA
	BAKEWARE (BOWL)
	 	ISSUED	 	5/15/01	 	D 442,019	 	5/15/15	 	USA
	BAKEWARE (PAN)
	 	ISSUED	 	5/22/01	 	D 442,425	 	8/1/14	 	USA
	BAKEWARE (SQUARE PAN)
	 	ISSUED	 	5/8/01	 	D441,598	 	5/8/15	 	USA
	BAKEWARE (LONG PAN)
	 	ISSUED	 	5/8/01	 	D441,597	 	5/8/15	 	USA
	BANGLES (DOF)
	 	ISSUED	 	9/3/02	 	D462,238	 	9/3/16	 	USA
	BANGLES (TUMBLER)
	 	ISSUED	 	4/30/02	 	D456,214	 	4/30/16	 	USA
	TRION (COOLER)
	 	ISSUED	 	12/4/01	 	D451,346	 	12/4/15	 	USA
	BANGLES (GOBLET)
	 	ISSUED	 	7/16/02	 	D460,323	 	7/16/16	 	USA
	NAUTILUS (COOLER)
	 	ISSUED	 	11/8/00	 	D 444,675	 	7/10/15	 	USA
	BAKEWARE (BOWL WITH HANDLES) #70974
	 	ISSUED	 	5/7/02	 	D456,673	 	5/7/16	 	USA
	GIBRALTAR (FOOTED PILSNER)
	 	ISSUED	 	8/20/02	 	D461,684	 	8/20/16	 	USA

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	Expiration	 	 
	Patent	 	Status	 	Date	 	Patent Number	 	Date	 	Country
	 
	 	 	 	 	 	 	 	 	 	 
	BAKEWARE (MEASURING CUP)
	 	ISSUED	 	8/13/02	 	D461,420	 	8/13/16	 	USA
	USA GOBLET (NO STARS)
	 	ISSUED	 	7/2/02	 	D459,632	 	7/2/16	 	USA
	USA GOBLET (STARS)
	 	ISSUED	 	7/9/02	 	D459,944	 	7/9/16	 	USA
	STARS GOBLET
	 	ISSUED	 	7/2/02	 	D459,631	 	7/2/16	 	USA
	VENUS MARTINI
	 	ISSUED	 	6/4/02	 	D 458,083	 	6/4/16	 	USA
	NAUTILUS MARTINI
	 	ISSUED	 	7/2/02	 	D459,633	 	7/2/16	 	USA
	COLONNA
	 	ISSUED	 	7/1/03	 	D476,526	 	7/1/17	 	USA
	VIBE
	 	ISSUED	 	4/18/02	 	D483,610	 	12/16/17	 	USA
	STEM (SHAZAM DESIGN)
	 	ISSUED	 	5/6/03	 	D474,069	 	5/6/17	 	USA
	VENUS MARGARITA
	 	ISSUED	 	3/4/03	 	D471,065	 	3/4/17	 	USA
	MARTELLO STEMWARE
	 	ISSUED	 	3/30/04	 	D487,861	 	3/30/18	 	USA
	VENUS STEM
	 	ISSUED	 	3/4/03	 	D471,061	 	3/4/17	 	USA
	SMOOTHIE GLASS
	 	ISSUED	 	10/28/03	 	D481,259	 	10/28/17	 	USA
	OMEGA STEMWARE
	 	ISSUED	 	4/22/03	 	D473,424	 	4/22/17	 	USA
	VERVE STEMWARE
	 	ISSUED	 	7/22/03	 	D477,499	 	7/22/17	 	USA
	TAPERED SQUARE VOTIVE
	 	ISSUED	 	12/30/03	 	D484,365 S	 	12/30/17	 	USA
	HOLIDAY TREE GOBLET
	 	ISSUED	 	4/22/03	 	D473,425	 	4/22/17	 	USA
	CANDLE POT W/LID
	 	ISSUED	 	2/22/05	 	D502,101 S	 	2/22/19	 	USA
	FLAME COOLER
	 	ISSUED	 	8/12/03	 	D511,436 S	 	11/15/19	 	USA
	GIBRALTAR PITCHER
	 	ISSUED	 	2/14/06	 	D514,868 S	 	2/14/20	 	USA
	STUCCO COOLER
	 	ISSUED	 	5/9/06	 	D 520,301 S	 	5/9/20	 	USA
	STEM (CHILI PEPPER)
	 	ISSUED	 	8/2/05	 	D507,935	 	8/2/19	 	USA
	BIG MOUTH JAR
	 	ISSUED	 	3/6/07	 	D537,727 S	 	3/6/21	 	USA
	INTERLUDE TUMBLER
	 	ISSUED	 	4/25/06	 	D519,322 S	 	4/25/20	 	USA
	SUNDAE DISH
	 	ISSUED	 	3/31/09	 	D589,298 S	 	3/31/23	 	USA
	FOUNTAINWARE
	 	ISSUED	 	3/31/09	 	D589,299 S	 	3/31/23	 	USA
	SODA GLASS
	 	ISSUED	 	3/31/09	 	D589,297 S	 	3/31/23	 	USA
	VACUUM PICK-UP OF SQUARE HOT GLASS ARTICLES
	 	GRANTED	 	10/12/93	 	5251919	 	10/12/10	 	USA
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	12/22/98	 	5,851,257	 	6/26/16	 	USA
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	8/11/98	 	5,791,452	 	10/15/16	 	USA
	COMMON CAGE ASSEMBLY
	 	GRANTED	 	5/22/01	 	6,233,975	 	3/24/19	 	USA
	VALVE HAMPER ASSEMBLY
	 	GRANTED	 	7/3/01	 	6,253,579	 	3/24/19	 	USA
	COOLING SYSTEM FOR A GLASSWARE MACHINE
	 	GRANTED	 	3/21/00	 	6,038,889	 	4/14/19	 	USA
	GLASSWARE MACHINE (ROTARY TABLE)
	 	GRANTED	 	3/9/04	 	6,701,748 B1	 	8/13/21	 	USA
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	REGISTERED	 	2/10/03	 	27340	 	10/3/17	 	COLO
	APPARATUS & METHOD FOR FORMING A
DECORATIVE PATTERN ON GLASSWARE
	 	GRANTED	 	 	 	207122	 	3/5/17	 	MEXO
	APPARATUS AND METHOD FOR PUTTING
DECORATION ON GLASSWARE
	 	GRANTED	 	 	 	27790	 	3/19/17	 	COLO
	COMMON CAGE ASSEMBLY
	 	GRANTED	 	11/17/09	 	PI0010368-3	 	2/23/20	 	BRAZ
	COMMON CAGE ASSEMBLY
	 	GRANTED	 	8/8/02	 	2001/6587	 	2/23/20	 	SOAF
	COMMON CAGE ASSEMBLY
	 	GRANTED	 	2/23/03	 	ZL 00805385.5	 	2/23/20	 	CHIN

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	Expiration	 	 
	Patent	 	Status	 	Date	 	Patent Number	 	Date	 	Country
	 
	 	 	 	 	 	 	 	 	 	 
	COMMON CAGE ASSEMBLY
	 	GRANTED	 	7/29/02	 	PCT/US00/04544	 	2/23/20	 	TURK
	COMMON CAGE ASSEMBLY
	 	GRANTED	 	 	 	DE 660 10 065.0-08	 	2/23/20	 	GERM
	COMMON CAGE ASSEMBLY
	 	GRANTED	 	2/10/06	 	234,304	 	2/23/20	 	MEXO
	COOLING SYSTEM FOR A GLASSWARE MACHINE
	 	GRANTED	 	2/10/09	 	PI 0011170-8	 	3/16/20	 	BRAZ
	COOLING SYSTEM FOR A GLASSWARE MACHINE
	 	GRANTED	 	8/29/07	 	ZL00806201.3	 	3/16/20	 	CHIN
	COOLING SYSTEM FOR A GLASSWARE MACHINE
	 	GRANTED	 	3/16/02	 	2001/7717	 	3/16/20	 	SOAF
	COOLING SYSTEM FOR A GLASSWARE MACHINE
	 	GRANTED	 	9/27/06	 	1189844	 	3/16/20	 	PCT
	COOLING SYSTEM FOR A GLASSWARE MACHINE
	 	GRANTED	 	12/18/07	 	HK 1044930	 	3/16/20	 	HOKO
	GLASSWARE MACHINE
	 	GRANTED	 	8/18/06	 	 	 	9/8/21	 	HOKO
	GLASSWARE MACHINE
	 	GRANTED	 	9/8/06	 	240,113	 	9/8/21	 	MEXO
	GLASSWARE MACHINE (ROTARY TABLE)
	 	GRANTED	 	7/23/08	 	1330417	 	9/8/21	 	PCT
	GLASSWARE MACHINE (ROTARY TABLE)
	 	GRANTED	 	11/26/03	 	2003/1678	 	9/8/21	 	SOAF
	GLASSWARE MACHINE (ROTARY TABLE)
	 	GRANTED	 	12/28/05	 	ZL01816864.7	 	9/8/21	 	CHIN
	HIGH CAVITY RATE MACHINE
	 	GRANTED	 	6/23/04	 	27702	 	6/23/17	 	COLO
	HIGH CAVITY RATE MACHINE
	 	GRANTED	 	7/16/04	 	3576173	 	7/10/17	 	JAPN
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	2/8/06	 	PI9710039-0	 	6/10/17	 	BRAZ
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/14/06	 	194045	 	6/11/17	 	INDA
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	 	 	207133	 	6/10/17	 	MEXO
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	 	 	US97/09830	 	 	 	PCT
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	 	 	14109	 	6/10/17	 	THAI
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	5/3/97	 	1998 01874	 	5/3/17	 	TURK
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	ARIA
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	BELG
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	97928003.9	 	6/10/17	 	IREL
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	ITLY
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	LUXM
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	MONA
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	NETH
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	PORT
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	SWED

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	Expiration	 	 
	Patent	 	Status	 	Date	 	Patent Number	 	Date	 	Country
	 
	 	 	 	 	 	 	 	 	 	 
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	SWIT
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	P69721767.1	 	6/10/17	 	GERM
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	DENM
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	SPAN
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	FINL
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	FRAN
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	UNK
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/03	 	0907616	 	6/10/17	 	GREC
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	 	 	0 008 338	 	6/26/17	 	INDN
	HIGH CAVITY RATE PRESS MACHINE
	 	GRANTED	 	6/10/04	 	TR 1998 02674 B	 	6/10/17	 	TURK
	PROCESS FOR GLAZING A CHINAWARE ARTICLE
	 	GRANTED	 	12/11/08	 	199665	 	11/28/22	 	POLD
	PROCESS FOR GLAZING A CHINAWARE ARTICLE
	 	GRANTED	 	10/13/08	 	0022132	 	11/28/22	 	INDN
	PROCESS FOR GLAZING CHINA DINNERWARE
	 	GRANTED	 	2/27/07	 	ZL02828300.7	 	11/28/22	 	CHIN
	SPOUT FORMING ASSEMBLY AND METHOD THEREFOR
	 	GRANTED	 	 	 	 	 	1/13/17	 	INDN
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	8/20/02	 	 	 	8/27/17	 	BRAZ
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	11/21/01	 	97/15076	 	8/27/17	 	CHIN
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	6/23/03	 	214983	 	8/27/17	 	MEXO
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	5/26/99	 	97/7968	 	9/4/17	 	SOAF
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	5/21/01	 	TR 1999 00744B	 	8/27/17	 	TURK
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	7/17/03	 	E226873	 	8/27/17	 	ARIA
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	10/30/02	 	EP0939689	 	8/27/17	 	EPC
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	 	 	3042314	 	8/28/17	 	GREC
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	 	 	MY-115110-A	 	3/31/18	 	MASA
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	GRANTED	 	4/15/04	 	ID 0 010 439	 	10/15/17	 	INDN
	VACUUM PICK-UP OF SQUARE HOT GLASS ARTICLES
	 	GRANTED	 	3/16/99	 	577032	 	6/26/13	 	EPC
	VACUUM PICK-UP OF SQUARE HOT GLASS ARTICLES
	 	GRANTED	 	7/26/96	 	933960	 	6/30/13	 	MEXO
	VALVE HAMPER ASSEMBLY
	 	GRANTED	 	8/8/02	 	2001/6588	 	2/23/20	 	SOAF
	VALVE HAMPER ASSEMBLY
	 	GRANTED	 	 	 	ZL 00 8 05383.9	 	2/23/20	 	CHIN
	VALVE HAMPER ASSEMBLY
	 	GRANTED	 	9/29/06	 	HK1044524	 	2/23/20	 	HOKO

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	Expiration	 	 
	Patent	 	Status	 	Date	 	Patent Number	 	Date	 	Country
	 
	 	 	 	 	 	 	 	 	 	 
	APPARATUS & METHOD FOR FORMING A
DECORATIVE PATTERN
	 	APPLN FILED	 	 	 	PCT/US97/03432	 	 	 	TURK
	COMMON CAGE ASSEMBLY
	 	APPLN FILED	 	 	 	 	 	 	 	PCT
	HIGH CAVITY RATE PRESS MACHINE
	 	APPLN FILED	 	 	 	AR 007484 B1	 	 	 	ARGT
	HIGH CAVITY RATE PRESS MACHINE
	 	APPLN FILED	 	 	 	 	 	 	 	CHIN
	HIGH CAVITY RATE PRESS MACHINE
	 	APPLN FILED	 	 	 	 	 	 	 	COLO
	HIGH CAVITY RATE PRESS MACHINE
	 	APPLN FILED	 	 	 	 	 	 	 	INDN
	HIGH CAVITY RATE PRESS MACHINE
	 	APPLN FILED	 	 	 	 	 	 	 	JAPN
	HIGH CAVITY RATE PRESS MACHINE
	 	APPLN FILED	 	 	 	 	 	 	 	MALA
	HIGH CAVITY RATE PRESS MACHINE
	 	APPLN FILED	 	 	 	 	 	 	 	VENZ
	TEMPERATURE CONTROL SYSTEM
	 	APPLN FILED	 	3/14/00	 	 	 	 	 	PCT
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	 	 	 	 	 	 	JAPN
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	 	 	 	 	 	 	PCT
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	8/5/02	 	 	 	 	 	NETH
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	SWIT
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	SWED
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	SPAN
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	PORT
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	BELG
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	LUXM
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	FINL
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	GREC
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	IREL
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	7/17/02	 	 	 	 	 	ITLY
	TRANSFER MECHANISM FOR GLASS ARTICLES
	 	APPLN FILED	 	5/7/04	 	191998	 	 	 	INDA
	VALVE HAMPER ASSEMBLY
	 	APPLN FILED	 	 	 	 	 	 	 	PCT
	HANDLE FOR A UTENSIL
	 	D438057	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Loan Party: Syracuse China Company
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	Expiration	 	 
	Patent	 	Status	 	Date	 	Patent Number	 	Date	 	Country
	 
	 	 	 	 	 	 	 	 	 	 
	JUSTINE PLATE
	 	GRANTED	 	12/10/96	 	D 376,292	 	12/10/10	 	USA
	CASTLETON PLATE
	 	GRANTED	 	12/10/96	 	D 376,293	 	12/10/10	 	USA
	CASTLETON CUP
	 	GRANTED	 	6/10/97	 	D 379,737	 	6/10/11	 	USA
	QUADRA CUP, ITEM 903333 001
	 	GRANTED	 	8/4/98	 	D 396,605	 	8/4/12	 	USA
	QUADRA PLATE, ITEM 903333 033
	 	GRANTED	 	12/22/98	 	D 402,854	 	12/22/12	 	USA
	QUADRA BOWL, ITEM 903333 002
	 	GRANTED	 	12/22/98	 	D 402,852	 	12/22/12	 	USA
	TOON PLATE
	 	GRANTED	 	1/25/00	 	D 419,383	 	1/25/14	 	USA
	TRIUMPH PLATE
	 	GRANTED	 	8/1/00	 	D428,770	 	8/1/14	 	USA
	QUARTET PLATE
	 	GRANTED	 	12/12/00	 	D 434,947	 	12/12/14	 	USA
	STUDIO BOWL
	 	GRANTED	 	12/19/00	 	D 435,197	 	12/19/14	 	USA
	QUANTUM (PLATE)
	 	GRANTED	 	7/31/01	 	D 445,648	 	7/31/15	 	USA
	CUP (ANTHEM W/BAND DESIGN)
	 	GRANTED	 	10/8/02	 	D463,954	 	10/8/16	 	USA
	SKILLET (CANTINA)
	 	GRANTED	 	2/18/03	 	D470,358	 	2/18/17	 	USA
	FANTASY BOWL
	 	GRANTED	 	3/11/03	 	D471,406	 	3/11/17	 	USA
	PLATTER (QUADRA)
	 	GRANTED	 	3/11/03	 	D471,405	 	3/11/17	 	USA
	TRAY (CHI-FU YING YANG)
	 	GRANTED	 	3/18/03	 	D471,765	 	3/18/17	 	USA
	CHABLIS PLATE
	 	GRANTED	 	4/8/03	 	D472,770	 	4/8/17	 	USA
	PLATE (EDGE DESIGN)
	 	GRANTED	 	4/8/03	 	D472,768	 	4/8/17	 	USA
	PLATE (ANTHEM)
	 	GRANTED	 	5/27/03	 	D474,941	 	5/27/17	 	USA
	PLATE (ORBIT)
	 	GRANTED	 	5/27/03	 	D474,940	 	5/27/17	 	USA
	ANTHEM PLATE
	 	GRANTED	 	6/3/03	 	D475,247	 	6/3/17	 	USA
	CHABLIS BOWL
	 	GRANTED	 	6/17/03	 	D475,894	 	6/17/17	 	USA
	ANTHEM BOWL
	 	GRANTED	 	6/24/03	 	D476,195	 	6/24/17	 	USA
	TRAY (CHI-FU SUSHI)
	 	GRANTED	 	6/24/03	 	D476,194	 	6/24/17	 	USA
	PLATE (COLUMBIA DESIGN)
	 	GRANTED	 	8/12/03	 	D478,252	 	8/12/17	 	USA
	PLATE (QUADRA TRIANGLE DESIGN)
	 	GRANTED	 	8/19/03	 	D478,476	 	8/19/17	 	USA
	CUP (ANTHEM)
	 	GRANTED	 	3/5/02	 	D482,237	 	11/18/17	 	USA
	ANTHEM SQUARE PLATE
	 	GRANTED	 	5/4/04	 	D 489,227 S	 	5/4/18	 	USA
	MAJESTY HARMONY BOWL
	 	GRANTED	 	8/17/04	 	D494,420 S	 	8/17/18	 	USA
	ANTHEM (PLATTER)
	 	GRANTED	 	11/16/04	 	D498,391	 	11/16/18	 	USA
	CHABLIS PASTA BOWL
	 	GRANTED	 	12/7/04	 	D499,307 S	 	12/7/18	 	USA
	TAPAS PLATE
	 	GRANTED	 	2/22/05	 	D502,058 S	 	2/22/19	 	USA
	SASSY PLATE
	 	GRANTED	 	6/7/05	 	D505,834 S	 	6/7/19	 	USA
	SASSY BOWL
	 	GRANTED	 	11/29/05	 	D511,939 S	 	11/29/19	 	USA
	CHABLIS UTOPIA PLATE
	 	GRANTED	 	12/20/05	 	D512,876 S	 	12/20/19	 	USA
	CASCADE SQUARE PLATE
	 	GRANTED	 	1/31/06	 	D513,935 S	 	1/31/20	 	USA
	QUADRA HEXAGON GREAT PLATE
	 	GRANTED	 	1/31/06	 	D513,934 S	 	1/31/20	 	USA
	VESUVIUS PLATE
	 	GRANTED	 	10/13/04	 	D514,889 S	 	2/14/20	 	USA
	PUZZLE PLATE
	 	GRANTED	 	4/25/06	 	D519,323 S	 	4/25/20	 	USA
	BOW TIE PLATE
	 	GRANTED	 	6/6/06	 	D522,314 S	 	6/6/20	 	USA
	CRESCENT COUPE PLATE
	 	GRANTED	 	3/6/07	 	D537,679 S	 	3/6/21	 	USA
	PROCESS GLAZING CHINAWARE ARTICLE
	 	GRANTED	 	11/11/03	 	6,645,561	 	2/25/22	 	USA
	PROCESS FOR GLAZING CHINAWARE ARTICLE
	 	GRANTED	 	1/7/09	 	1478472	 	11/22/22	 	PCT
	PROCESS FOR GLAZING A CHINAWARE ARTICLE
	 	GRANTED	 	10/11/07	 	250230	 	11/28/22	 	MEXO

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Issue	 	 	 	Expiration	 	 
	Patent	 	Status	 	Date	 	Patent Number	 	Date	 	Country
	 
	 	 	 	 	 	 	 	 	 	 
	PROCESS FOR GLAZING CHINAWARE ARTICLE
	 	APPLN FILED	 	1/23/03	 	 	 	 	 	THAI
	 
	 	 	 	 	 	 	 	 	 	 
	Loan Party: World Tableware Inc.
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	AMULET FLATWARE (SPOON)
	 	GRANTED	 	11/19/02	 	D465,702	 	11/19/16	 	USA
	AMULET FLATWARE (KNIFE)
	 	GRANTED	 	6/13/02	 	D470,367	 	2/18/17	 	USA
	FISH FLATWARE (FORK)
	 	GRANTED	 	5/20/03	 	D474,657	 	5/20/17	 	USA
	FISH FLATWARE (KNIFE)
	 	GRANTED	 	5/20/03	 	D474,656	 	5/20/17	 	USA
	FISH FLATWARE (SPOON)
	 	GRANTED	 	5/27/03	 	D474,945	 	5/27/17	 	USA
	SEAFOOD SHAKER HOLDER
	 	GRANTED	 	1/13/04	 	D485,130 S	 	1/13/18	 	USA
	EUROPEAN STEAK KNIFE
	 	GRANTED	 	9/29/03	 	D496,562 S	 	9/28/18	 	USA
	ENDEAVOR PLATE
	 	GRANTED	 	4/27/05	 	D545,632 S	 	7/3/21	 	USA
	TOUCHLESS FLATWARE (FORK)
	 	GRANTED	 	10/10/07	 	D551,913 S	 	10/2/21	 	USA
	CASCADE SPOON/FORK
	 	GRANTED	 	10/30/07	 	D553,906 S	 	10/30/21	 	USA
	CASCADE KNIFE
	 	GRANTED	 	11/13/07	 	D554,942 S	 	11/13/21	 	USA
	GOTHIC FORK/SPOON
	 	GRANTED	 	9/30/08	 	D577,543 S	 	9/30/22	 	USA
	GOTHIC KNIFE
	 	GRANTED	 	9/30/08	 	D577,544 S	 	9/30/22	 	USA
	PERCEPTION FORK/SPOON
	 	GRANTED	 	7/21/09	 	D596,456 S	 	7/21/23	 	USA
	ECOWARE FORK/SPOON
	 	GRANTED	 	1/5/10	 	D607,273 S	 	1/5/24	 	USA
	ECOWARE KNIFE
	 	GRANTED	 	1/19/10	 	D608,143 S	 	1/19/24	 	USA
	HANDLE FOR A UTENSIL
	 	GRANTED	 	 	 	D593797	 	 	 	USA
	 
	 	 	 	 	 	 	 	 	 	 
	Loan Party: Traex Company
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	DISHWASHER RACK EXTENDER W/CONNECTOR PINS
	 	ISSUED	 	 	 	6,634,510	 	3/25/22	 	USA
	DISPENSER
	 	ISSUED	 	3/11/04	 	D520,277 S	 	5/9/20	 	USA
	OVENABLE FOOD TRAY
	 	GRANTED	 	7/15/97	 	D 380,937	 	7/15/11	 	USA
	DISPLAY TRAY
	 	GRANTED	 	1/18/05	 	6,843,373	 	3/11/22	 	USA
	DISHWASHER RACK CONSTRUCTION (RACK-MAX)
	 	GRANTED	 	4/27/04	 	6,726,031 B2	 	2/23/22	 	USA
	BOTTLE HAVING MULTIPLE OUTLETS
	 	GRANTED	 	3/10/03	 	6,732,888 B1	 	3/10/23	 	USA
	BAR CONDIMENT TRAY
	 	GRANTED	 	2/2/93	 	D 332,895	 	2/2/07	 	USA
	ADJUSTABLE CUP DISPENSER
	 	GRANTED	 	9/14/04	 	6,789,697	 	9/14/24	 	USA
	DISPENSER DELIVERING ADJUSTABLE VOLUME OF
FLOWABLE DRY MATERIAL
	 	GRANTED	 	8/16/05	 	6,929,158 b2	 	8/16/25	 	USA
	CUTTING BOARD W/REMOVABLE FOOTINGS
	 	GRANTED	 	5/10/05	 	6,889,969 b2	 	5/10/25	 	USA
	CONTAINER: ICE PORTER
	 	APPLN FILED	 	10/10/06	 	11/545,202	 	 	 	USA
	CLARIFIED SQUEEZE BOTTLE
	 	APPLN FILED	 	8/25/03	 	10/649,446	 	 	 	USA
	DISPENSER FOR A PAPER PRODUCT
	 	GRANTED	 	1/3/06	 	6,981,610 B2	 	1/3/26	 	USA
	CUTTING BOARD WITH REMOVABLE FOOTINGS
	 	 	 	 	 	6889969	 	 	 	USA
	DISPENSER FOR DELIVERING AN ADJUSTABLE
VOLUME OF FLOWABLE DRY MATERIAL
	 	 	 	 	 	6929158	 	 	 	USA
	DISPENSER FOR A PAPER PRODUCT
	 	 	 	 	 	6981610	 	 	 	USA

 

 

C. Copyrights

	 	 	 	 	 	 	 	 	 	 	 
	Copyright	 	Date Issued	 	Serial Number	 	 	Country	 
	 
	 	 	 	 	 	 	 	 	 	 
	Loan Party: Libbey Glass Inc.
	 	 	 	 	 	 	 	 	 	 
	COUNTRY GOOSE
	 	 	 	 	VA0000279220	 	 	USA
	LIBBEY TABLETOP SELLING PROGRAM
	 	 	 	 	TX0003362639	 	 	USA
	 
	 	 	 	 	 	 	 	 	 	 
	Loan Party: Syracuse China Company
	 	 	 	 	 	 	 	 	 	 
	TREVAL
	 	12/16/91	 	 	VA482052	 	 	USA
	RAVENNA
	 	12/16/91	 	 	VA482051	 	 	USA
	THE STYLUS COLLECTION
	 	12/16/91	 	 	TX3200044	 	 	USA
	SCOTTSDALE
	 	9/17/90	 	 	VA425366	 	 	USA
	BERKSHIRE PATTERN/TREMONT SHAPE
	 	9/17/90	 	 	VA424701	 	 	USA
	COMPTON, TURINA SHAPE
	 	1/9/91	 	 	VA435465	 	 	USA
	COLLETTE
	 	3/27/90	 	 	VA393501	 	 	USA
	JUDSON
	 	3/9/90	 	 	VA391832	 	 	USA
	SYRALITE BODY FROM SYRACUSE CHINA MATCHES
BRILLIANT BEAUTY WITH LASTING STRENGTH
	 	5/3/90	 	 	TX2789984	 	 	USA
	CHANTELLE
	 	10/13/89	 	 	VA370690	 	 	USA
	TAPESTRY
	 	 	 	 	VA370683	 	 	USA
	LENORE
	 	9/26/89	 	 	VA364209	 	 	USA
	MAYMONT
	 	9/26/89	 	 	VA364208	 	 	USA
	MARISA
	 	5/1/89	 	 	VA346512	 	 	USA
	HYATT ORLANDO
	 	5/1/89	 	 	VA346511	 	 	USA
	PONTE VERDE
	 	5/1/89	 	 	VA346510	 	 	USA
	KEY BISCAYNE GREAT PLATE
	 	9/21/82	 	 	VA211078	 	 	USA
	BEAUVAL FLORAL DESIGN
	 	9/21/82	 	 	VA139016	 	 	USA
	BEAUVAL FLORAL DESIGN
	 	 	 	 	VA139015	 	 	USA
	BEAUVAL FLORAL DESIGN
	 	 	 	 	VA139014	 	 	USA
	BEAUVAL FLORAL DESIGN
	 	 	 	 	VA139013	 	 	USA
	THE PERCEIVED VALUE OF TABLETOP ACHITECTURE
	 	 	 	 	TX1127211	 	 	USA
	CUSTOM BY SYRACUSE CHINA
	 	 	 	 	TX1127210	 	 	USA
	GIBRALTAR COOK N’SERVE CHINA: A HOSPITALITY
GROUP BY SYRACUSE CHINA: LET OVEN LOV
	 	 	 	 	TX1127209	 	 	USA
	303 MENU IDEAS
	 	 	 	 	TX1127208	 	 	USA
	THE PERCEIVED VALUE OF TABLETOP ARCHITECTURE
	 	 	 	 	TX1127207	 	 	USA
	THE FEATURE PLATE
	 	 	 	 	TX1116893	 	 	USA
	HOSPITALITY PORTFOLIO/BY SYRACUSE CHINA
	 	 	 	 	TX842460	 	 	USA
	MESA GRANDE
	 	 	 	 	TX842454	 	 	USA
	KING’S INN
	 	 	 	 	TX842453	 	 	USA
	OPERATION COST CONTAINMENT: ARE MANAGER
ACTION PROGRAM MANUAL
	 	 	 	 	TX94376	 	 	USA
	CARLTON NARROW RIM DINNERWARE
	 	 	 	 	VA245549	 	 	USA
	HOTEL DUPONT
	 	 	 	 	VA346513	 	 	USA
	ARTIFACTS
	 	 	 	VA 991-653	 	USA
	COMBO
	 	 	 	VA 991-654	 	USA

 

 

	 	 	 	 	 	 	 	 	 	 	 
	Copyright	 	Date Issued	 	Serial Number	 	 	Country	 
	ISLAND
	 	 	 	VA 991-652	 	USA
	FRIENDLYS I
	 	7/12/99	 	VA 996-589	 	USA
	FRIENDLYS II
	 	7/12/99	 	VA 996-590	 	USA

 

 

Schedule 3.06

Disclosed Matters

	1.	 	Owens-Illinois has been named as a potentially responsible party or other participant
in connection with certain waste disposal sites to which Libbey also may have shipped
wastes prior to June 24, 1993, the date of Libbey Inc.’s initial public offering and
separation from Owens-Illinois, Inc. (Owens-Illinois). Libbey may bear some responsibility
in connection with those shipments. Pursuant to an indemnification agreement between
Owens-Illinois and Libbey Inc., Owens-Illinois has agreed to defend and hold Libbey Inc.
and its subsidiaries harmless against any costs or liabilities they may incur in connection
with any such matters identified and pending as of June 24, 1993, and to indemnify Libbey
Inc. and its subsidiaries for any liability that results from these matters in excess of $3
million. We believe that if it is necessary to draw upon this indemnification, collection
is probable.
	 
	2.	 	Pursuant to the indemnification agreement referred to above, Owens-Illinois is
defending Libbey Glass with respect to the King Road landfill. In January 1999, the Board
of Commissioners of Lucas County, Ohio instituted a lawsuit against Owens-Illinois, Libbey
Glass and numerous other defendants. (Fifty-nine companies were named in the complaint as
potentially responsible parties.) In the lawsuit, which was filed in the United States
District Court for the Northern District of Ohio, the Board of Commissioners sought to
recover contribution for past and future costs incurred by the County in response to the
release or threatened release of hazardous substances at the King Road landfill formerly
operated and closed by the County. The Board of Commissioners dismissed the lawsuit without
prejudice in October 2000. At the time of the dismissal, the parties to the lawsuit
anticipated that the Board of Commissioners would refile the lawsuit after obtaining more
information as to the appropriate environmental remedy. As of this date, it does not appear
that refiling of the lawsuit is imminent. In view of the uncertainty as to refiling of the
suit, the numerous defenses that may be available against the County on the merits of its
claim for contribution, the uncertainty as to the environmental remedy, and the uncertainty
as to the number of potentially responsible parties, it currently is not possible to
quantify any exposure that Libbey Glass Inc. may have with respect to the King Road
landfill.
	 
	3.	 	In August of 2005, Libbey Glass Inc. received correspondence from the United States
Department of Interior Fish & Wildlife Service (the “DOI”) notifying Libbey Glass Inc. of
the DOI’s intent to conduct an assessment of injuries to natural resources resulting from
the release of hazardous substances into the Ottawa River and the Maumee Bay (the “Ottawa
Site”). The DOI invited Libbey Glass Inc. to participate in that assessment, and Libbey
Glass Inc. declined since it has no basis to believe that it contributed to any such
release. On September 4, 2007, the Ohio Environmental Protection Agency (“Ohio EPA”)
invited Libbey Glass Inc. to an informational session regarding contamination in the Ottawa
River sediments, recent developments with respect to the Ottawa Site, and possible
solutions to address the contamination. However, neither the DOI nor the Ohio EPA has made
any allegation that Libbey Glass Inc. was responsible for natural resource damages
associated with the Ottawa Site or made any demands upon Libbey Glass Inc..
	 
	4.	 	On October 10, 1995, Syracuse China Company, a wholly-owned subsidiary of Libbey Glass
Inc., acquired from The Pfaltzgraff Co. and certain of its subsidiary corporations, the
assets operated by them as Syracuse China, The Pfaltzgraff Co. and the New York State
Department of Environmental Conservation, referred to as the DEC, entered into an Order on
Consent that required Pfaltzgraff to develop a remedial action plan for and to remediate
the site. Although

 

 

	 	 	Syracuse China Company was not a party to the Order on Consent, as part of the Asset
Purchase Agreement with The Pfaltzgraff Co., referred to as the APA, Syracuse China Company
agreed to share a part of the remediation and related expense up to the lesser of 50% of
such costs or $1.35 million. The approved remedy has been implanted and Syracuse China
Company’s payment obligation under the APA has been satisfied with respect to the associated
costs has been satisfied. In addition, Syracuse China Company has been named as a
potentially responsible party by reason of its potential ownership of certain property that
adjoins its plant and that has been designated a sub-site of a superfund site. Libbey Glass
Inc. believes that any contamination of the sub-site was caused by and will be remediated by
owners of this site at no cost to Syracuse China Company or the other Loan Parties. Libbey
Glass Inc. believes that, even if Syracuse China Company were deemed to be responsible for
any expense in connection with the contamination of the Subsite, it is likely that a portion
of the expense would be paid by Pfaltzgraff pursuant to the APA. By letter dated October
31, 2008, the DEC and U.S. Environmental Protection Agency, referred to as the EPA, made a
demand upon Syracuse China Company and several other companies for recovery of approximately
$12.5 million of direct and indirect costs allegedly expended by the DEC and EPA in
connection with the clean-up of the Onondaga Lake Superfund Site. By letter dated October
30, 2009, the EPA notified Syracuse China Company and several other companies that they are
potentially responsible parties in connection with the Lower Ley Creek Subsite of the
Onondaga Lake Superfund Site. At this time it is not certain that there is a nexus between
Syracuse China Company and the Superfund Site. Under the APA, we and The Pfaltzgraff Co.
will share any costs for off-premise liability of this kind up to an aggregate of $7.5
million. Syracuse China Company has no reason to believe that the indemnification would not
be honored if it were to become necessary for us to draw upon that indemnification.

 

 

Schedule 3.14

Insurance

 

 

	 	 	 	 	 	 	 
	I. POLICY	 	INSURER/ POLICY #	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	Property & Business

	 	Allianz
	 	All Risk including fire,
	 	Policy Limit: $400,000,000 Except:
	Insurance

	 	
Policy #: CLP3010579

AIG

C.N.A. 
(Continental Casualty Company)
	 	extended coverage, Boiler &
Machinery and DIC Perils. 

Coverage applies to all entities.
	 	1) $500,000,000 for Time Element

2) Flood — Sublimit $100,000,000

3) Earth Movement — Sublimit $100,000,000 Aggregate, but
Not to exceed:
    $10,000,000 in CA,
    $40,000,000 in China
4) Various Coverage Extensions are subject to Sublimits ranging from $250,000 to $25,000,000
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Deductibles:
	 

	 	 	 	 	 	All losses $250,000 combined all coverages except:
	 

	 	 	 	 	 	1) Glass Furnaces — $250,000/PD; 5 Days’ Equiv. Time
Element/Min. $500,000

2) Computer Systems-Non Physical Damage — $250,000 PD/BI; 2 Days Equivalent TE

3) Property in Transit — $100,000

4) CA Earth Movement — 5% of Values/Min $500,000

5) Named Storm Wind — 2% of Values/Min $500,000

6) Railroad Rolling Stock — $50,000

 

 

	 	 	 	 	 	 	 
	I. POLICY	 	INSURER/ POLICY #	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	Public Liability 

Insurance

	 	ACE
	 	Premises operations for China
	 	Bodily injury — $200,000RMB pp, per accident
$150,000RMB — per occurrence

Property Damage: $1,5000,000RMB per occurrence
In Aggregate: $5,000,000 RMB
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Deductible: $10,000 RMB per occurrence for property damage
	 
	 	 	 	 	 	 
	Products Liability

	 	ACE
	 	Products liability for China
	 	Bodily Injury — $7,000,000 RMB limit on an occurrence basis
Deductible: $3,000.00 RMB per occurrence
	 
	 	 	 	 	 	 
	Worldwide 

Transportation

	 	Hartford Fire Ins Co.
Policy #: 45CTCPN7688
	 	Covers goods in transit between
Continental U.S. and points
outside the Continental U.S. for
which the insured has an
interest
	 	Policy Limit: $3,000,000 Any one loss disaster or casualty
$500,000 — Any one package by mail or parcel post

Deductible: $1,000 Per occurrence
	 
	 	 	 	 	 	 
	Insured Workers’

	 	Travelers Property
	 	Covers fully insured statutory
	 	Policy Limits:
	Comp.

	 	Casualty Company

Policy #: YJUB930K517709
	 	benefits such as compensation,
medical benefits and
rehabilitation costs incurred as
a result of work-related
injuries or diseases as defined
by state laws (All states except
LA, OH, WA)
	 	Workers’ Compensation — Statutory

Employers Liability — $1,000,000
	 
	 	 	 	 	 	 
	Self-Insured Excess

	 	ACE American Ins. Co.
	 	Covers self-insured benefits
	 	Policy Limit:
	Workers 

Compensation

	 	Policy #: WCUC45694070
	 	such as compensation, medical
benefits and rehabilitation
costs incurred as a result of
work-related injuries or
diseases as defined by state
laws (LA & OH)
	 	Workers’ Compensation — Statutory

Employers Liability — $1,000,000

Self-Inured Retention: $1,000,000 (LA & OH)
	General & Products

	 	ACE American Ins. Co.
	 	Covers liability for damage
	 	Policy Limit:
	Liability

	 	 	 	because of personal injury or
property damage caused by an
occurrence.
	 	$10,000,000 General Aggregate Limit

$800,000 Per Occurrence

$2,000,000 General Aggregate Per Location

 

 

	 	 	 	 	 	 	 
	I. POLICY	 	INSURER/ POLICY #	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 

	 	Policy #: PMIG23861033
	 	 	 	$800,000 Products Aggregate

$250,000 Catastrophe Mgmt. Coverage Each Occurrence (Not
subject to S.I.R.)
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Self Insured Retention: $200,000 Occurrence/
$700,000 Aggregate Indemnity and Allocated
	 
	 	 	 	 	 	 
	Business Auto —

	 	Travelers Prop Cas. Co.
	 	Covers liability arising out of
	 	Policy Limit:
	U.S.

	 	Policy#:Y810930K5177TIL09

TX: BA6609C20609CAG
	 	the ownership, maintenance or
use of Libbey Inc. vehicles in
the U.S. (doesn’t include
physical damage for owned or
leased vehicles)

Texas Auto Policy
	 	$1,000,000 — BI/PD per Occurrence

$500,000  — UM/UIM Each Accident
	 
	 	 	 	 	 	 
	Business Auto —
Canada 

Business Auto —
Canada

	 	ING Insurance Co. of Canada

Policy #: 730500294

Non fleet #: 564929547
	 	Libbey Canada Inc.
	 	$2,000,000 CAD — Per Occurrence

$2,000,000 CAD — 3rd Party Liability

$2,000,000 CAD  — Limit
	 
	 	 	 	 	 	 
	Foreign General &

	 	ACE American Ins Co
	 	Covers liability for damage
	 	Policy Limit:
	Products Liability,
Auto and Voluntary
compensation

	 	PHFD36913368
	 	because of personal injury or
property damage caused by an
occurrence outside of the U.S.,
including Excess & DIC coverage
for Royal Leerdam.
Covers Libbey Stand in Germany
	 	Voluntary Compensation -Statutory Per State/Country of Hire

General Liability — $1,000,000 per Occurrence and Aggregate

Auto: $1,000,000 — Combined limit any one accident
	 
	 	 	 	 	 	 
	Umbrella

	 	Continental
	 	Covers liability for damages
because of
	 	Total Policy Limit: $100,000,000

 

 

	 	 	 	 	 	 	 
	I. POLICY	 	INSURER/ POLICY #	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 

	 	Casualty

Policy #: L2057315977

Firemans Fund #:

SHX00091413443

Federal Insurance 79090414
	 	personal injury,
property damage or advertising
offense in excess of coverage
provided by scheduled underlying
policies
	 	$25MM first layer of coverage

$50MM part of $75MM

$25MM high excess
	 
	 	 	 	 	 	 
	Premises and
Operations Products
and Finished Works
in Mexico

	 	Chubb
	 	Premises and Operations Products
and Finished Works in Mexico. —
Please note that no coverage
applies for claims/suits outside
of Mexico Tenants Liability
Loading & Unloading Assumed
Liability
	 	Limit: $2,000,000 per Occurrence / $2,000,000 Aggregate
(U.S. Dollars) — Please note there is one aggregate shared
between Public and Products Liability
 

Deductible: 10% of loss, applicable only to Products &
Finished Works and Loading & Unloading. No deductible
applies to the rest.
	 
	 	 	 	 	 	 
	Directors &
Officers Liability

Effective:
8/1/09 — 8/1/10

	 	AIG

(National Union)

Policy # 05-505-41-74
	 	1) Pays the loss of Directors &
Officers (D&O) arising from a
claim made against the D&O for
any wrongful act.

2) Pays the loss of Libbey
arising from a securities claims
made against Libbey for a
wrongful act (Entity coverage)

3) Pays the loss of Libbey
arising from a claim made
against a D&O for any wrongful
act, but only to the extent that
Libbey has indemnified the D&O

4) Pays the loss of any D&O
serving
	 	Policy Limit: $10,000,000, Inclusive of Defense Costs

$50,000 — Crisis Fund Coverage

$250,000 — Investigative Costs coverage for derivative
demands on the board
 

Deductibles:
$0  — Non-Indemnifiable Loss
$1,000,000  — All other Loss

 

 

	 	 	 	 	 	 	 
	I. POLICY	 	INSURER/ POLICY #	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 

	 	 	 	at the direction of
Libbey on any not-for-profit
organization board or any
endorsed for profit organization
board, but only excess of any
coverage offered or
indemnification provided.	 	 
	 
	 	 	 	 	 	 
	Directors &

	 	Endurance
	 	Covers liability in excess of
	 	Policy Limit:
	Officers Liability
Excess 1

Effective: 8/1/09
— 8/1/10

	 	
Policy #: DOX10000760500
	 	primary D&O policy
	 	$10,000,000 excess $10,000,000
	 
	 	 	 	 	 	 
	Directors &

	 	Chubb
	 	Covers liability in excess of
	 	Policy Limit:
	Officers Liability
Excess 2

Effective: 8/1/09
— 8/1/10

	 	Policy #: 8210-5117
	 	primary D&O policy
	 	$10,000,000 excess $20,000,000
	 
	 	 	 	 	 	 
	Directors &

	 	Beazley
	 	Covers liability in excess of
	 	Policy Limit:
	Officers Liability
Excess
A-SIDE

Effective: 8/1/09
— 8/1/10

	 	
Policy #: V15UVC09PNDM
	 	primary D&O policy
	 	$15,000,000 excess $25,000,000
	 
	 	 	 	 	 	 
	Directors A- Side

	 	AWAC
	 	Covers liability in excess of
	 	Policy Limit:
	Coverage

Effective:
8/1/09 — 8/1/10

	 	
Policy #: 0304-8360
	 	primary D&O policy for
Independent Directors — No
coverage for Company or Officers
	 	$10,000,000 excess $40,000,000
	 
	 	 	 	 	 	 
	Directors A- Side

	 	AXIS
	 	Covers liability in excess of
	 	Policy Limit:
	 

	 	 	 	primary A-	 	 

 

 

	 	 	 	 	 	 	 
	I. POLICY	 	INSURER/ POLICY #	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	Coverage

Effective:
8/1/09 — 8/1/10

	 	Policy:
 MCN719272/01/2009
	 	Side coverage for

Independent Directors
	 	$10,000,000 excess $50,000,000
	 
	 	 	 	 	 	 
	Directors A- Side

	 	Navigators
	 	Covers liability in excess of
	 	Policy Limit:
	Coverage

Effective: 

8/1/09 — 8/1/10

	 	
Policy: NY 09 DOL 631928 NV
	 	primary A-Side coverage for

Independent Directors
	 	$5,000,000 excess $60,000,000
	 
	 	 	 	 	 	 
	Directors A- Side

	 	AIG
	 	Covers liability in excess of
	 	Policy Limit:
	
Coverage
Effective:
8/1/09 — 8/1/10

	 	
Policy: 08-414-58-16
	 	primary A-Side coverage for

Independent Directors
	 	$5,000,000 excess $65,000,000
	 
	 	 	 	 	 	 
	Fiduciary Liability

	 	AIG
	 	Pays loss of an insured arising
	 	Policy Limit:
	Effective: 8/1/09
— 8/1/10

	 	(National Union)
	 	from a claim against the insured
for any actual or alleged breach
of fiduciary duty arising solely
	 	$10,000,000 Inclusive of Defense costs

Deductible:
	 

	 	Policy #:

05-505-43-30
 	 	out of the insured’s capacity as
a fiduciary as defined by ERISA.
	 	$1,000,000 Securities Claims

$500,000 All Other Claims
	 

	 	 	 	Coverage for any Voluntary
Compliance Loss.	 	 
	 
	 	 	 	 	 	 
	Fiduciary Liability
Excess Policy

Effective: 8/1/09
— 8/1/10

	 	C.N.A.
 (American Casualty
Company)

Policy #:
 287044212
	 	Covers liability for loss or
damage excess of underlying
Fiduciary Policy.
	 	Policy Limit: $10,000,000 excess $10,000,000

 

 

	 	 	 	 	 	 	 
	I. POLICY	 	INSURER/ POLICY #	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	Fiduciary Liability
Excess Policy

Effective: 8/1/09
— 8/1/10

	 	AXIS

Policy #: MCN719268/01/2009
	 	Covers liability for loss or
damage excess of underlying
Fiduciary Policy.
	 	Policy Limit: $10,000,000 excess $20,000,000
	 
	 	 	 	 	 	 
	Fiduciary Liability
Excess Policy

Effective: 8/1/09
— 8/1/10

	 	Chubb

(Federal)

Policy #: 8210-5121
	 	Covers liability for loss or
damage excess of underlying
Fiduciary Policy.
	 	Policy Limit: $10,000,000 excess $30,000,000
	 
	 	 	 	 	 	 
	Fiduciary Liability
Excess Policy

Effective: 8/1/09
— 8/1/10

	 	Travelers

Policy # ECO3400386
	 	Covers liability for loss or
damage excess of underlying
Fiduciary Policy.
	 	Policy Limit: $10,000,000 excess $40,000,000
	 
	 	 	 	 	 	 
	Fiduciary Liability
Excess Policy

Effective: 8/1/09
— 8/1/10

	 	Endurance

Policy # FLX10000762000
	 	Covers liability for loss or
damage excess of underlying
Fiduciary Policy.
	 	Policy Limit: $5,000,000 excess $50,000,000
	 
	 	 	 	 	 	 
	Crime

Effective: 8/1/09
— 8/1/10

	 	Chubb

Policy#: 8210-8766
	 	Indemnifies Libbey for loss of
assets due to theft by an
employee.
	 	Policy Limit: $10,000,000

Deductible: $100,000

 

 

	 	 	 	 	 	 	 
	I. POLICY	 	INSURER/ POLICY #	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	Crime Excess Policy

Effective: 8/1/09
— 8/1/10

	 	AIG

(National Union)

Policy#: 05-825-05-21
	 	Indemnifies Libbey for loss of
assets due to theft by an
employee excess of underlying
Crime Policy.
	 	Policy Limit: $5,000,000
	 
	 	 	 	 	 	 
	Special Crime

	 	AIG
	 	Insured events:
	 	Policy Limit:
	
Effective: 8/1/08
— 8/1/11

	 	
Policy #: 1063700
	 	1. Kidnapping or alleged
kidnapping of an insured person

2. Personal extortion upon the
insured person

3. Property damage extortion
upon the insured person

4. Wrongful detention of an
insured person

5. Hijacking of any aircraft,
vehicle or vessel on which
insured is traveling
	 	Ransom Monies- Annual Aggregate — $25,000,000

In-Transit/Delivery Expenses

Judgements, Settlements & Defense Cost

Death or Dismemberment — per person — $250,000

Death or Dismemberment — Per incident — $1,000,000

Recall expenses — $5,000,000

Business Interruption — Each loss & Aggregate — $5,000,000

Deductible:
	 

	 	 	 	 
	 	Kidnap & Ransom/Extortion  — None

Business Interruption — 6 Hours
	 
	 	 	 	 	 	 
	Employment
Practices Liability
Insurance

Effective: 8/1/09
— 8/1/10

	 	Travelers

Policy#:

ECO3400388
	 	Protects company from claims
resulting from wrongful acts
arising from employment
practices such as termination,
discrimination, sexual
harassment, failure to employ or
promote. 

Includes Third Party Claims.
	 	Policy Limit: $10,000,000

Deductible for any non-class action claim: $100,000

Deductible for Class Action: $250,000
	 
	 	 	 	 	 	 
	Group Travel 

Accident

	 	Hartford
	 	Provides scheduled benefits to
Officers, Salaried and Non-Union
	 	Policy Limit: $10,000,000
	 

	 	 	 	Hourly employees for accidents

while traveling	 	
Benefit Schedules: 

 

 

	 	 	 	 	 	 	 
	 	 	INSURER/	 	 	 	 
	I. POLICY	 	POLICY#	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 
	 	 	 	 	 	 
	4/30/09-4/30/12

	 	 	 	on company
business: excluding
every day travel to
and from work.
	 	1) $500,000 for all active, full time Officers
and Salaried employees with a job level over 10

2) $350,000 for all active, full time Salaried
employees with a job level between 7 and 10

3) $200,000 for all active, full time Salaried
and Non-Union Hourly employees and U.S.
employees of foreign subs. Or affiliates with
job level of 6 or less
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	Deductible: None

Basis: Accidental Death or Dismemberment Schedule

Foreign Local Policies

Local coverages for B.V. Koninklijke Nederlandsche Glasfabriek Leerdam shown below:

	 	 	 	 	 	 	 	 	 
	Coverage:	 	INSURER/POLICY#	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 
	 	 	 	 	 	 
	Primary Liability —

	 	ACE
	 	Territory — World
	 	Limits: Third Party Liability:
	Claims Made 

Renewal Date: 

1/1/11

	 	 	621578804	 	 	3 Months Cancellation Requirement

Terrorism

Asbestos

Retroactive Clause
	 	€1,000,000 Bodily Injury — per
Claim
€2,000,000 Bodily Injury — Annual Aggregate
€1,000,000 Material Damage — per Claim
€2,000,000 Material Damage — Annual Aggregate
25,000 Deductible
Products Liability:
	 

	 	 	 	 	 	 	 	€1,000,000 Bodily Injury — per
Claim
€2,000,000 Bodily Injury — Annual Aggregate
€1,000,000 Material Damage — per Claim
€2,000,000 Material Damage — Annual Aggregate

 

	 	 	 	 	 	 	 	 	 
	Coverage:	 	INSURER/POLICY#	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	25,000 Deductible 

Employer’s Liability

€1,000,000 per Claim, per
Person

€2,000,000 Annual Limit
25,000 Deductible 

Environmental Impairment
Liability

€1,000,000 per Claim

€2,000,000 Annual Limit
	 
	 	 	 	 	 	 	 	 
	WAO — Gap Insurance 
Renewal Date: 1/1/12
	 	Amersfoortse
22-0115957	 	Coverage: In case of sickness the employee receives
payment according to the disablement
act. This means for the first year
they will receive 70% of their latest
salary, even if the average minimum
wage is less then 70%. This insurance
will fill the gap.
	 	Conditions: 36 month policy term

2 month cancellation requirement
In some cases agreements have
been made between employers and
employees that the sick
employee receives 100% of the
salary last
earned. 

The second year of sickness the
maximum amount paid is 70% of
the last earned salary.
	 
	 	 	 	 	 	 	 	 
	WAO — Excess Insurance 

Renewal Date:
1/1/11

	 	Amersfoortse

22-0024307
	 	Coverage: Income in case of
disablement
Insurance is for employees with a
salary of more than €47,802
	 	Conditions: 60 month policy term
3 month cancellation requirement
Age of cancellation is 65 years
First two years are deductible
	 
	 	 	 	 	 	 	 	 
	Transit Marine Insurance 

Renewal Date:
1/1/11

	 	Meijers Pool

T101199
	 	Glass — Including Machinery &
Equipment; Raw Materials
€2,000,000

Major Exclusions: 

Terrorism
Profit commission
	 	Territory — Worldwide
Advance Premium based on total
estimated turnover 

Deductible: 900

 

	 	 	 	 	 	 	 	 	 
	Coverage:	 	INSURER/POLICY#	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 
	 	 	 	 	 	 	 	 
	Group Accident Insurance 

Renewal Date:
2/28/13

	 	W.A. Hienfeld

525,403
	 	All employees on the payroll of the
insured not older than 70 years,
provided that they are living in the
Netherlands 

Sum Insured:
	 	3 month cancellation

Territory — Netherlands
	 

	 	 	 	 	 	€125,000 Death due to Accident

€250,000 Permanent Disablement	 	 
	 
	 	 	 	 	 	 	 	 
	Travel Insurance 

Renewal Date:
1/1/11

	 	W.A. Hienfeld

525815
	 	Coverage:

€15,000 Death, except for:

€3,000 Death, persons younger than 14

or older than 69

€60,000 Disability, except for:

€75,000 Disability, persons younger
than 14 years 

€7,500 Disability, person older than
69 years 

€Actual Cost Medical costs, except US
& Canada

€250,000 Medical costs; US & Canada

€ Actual Cost Extra costs, including
Replacement Transportation — nil
SOS Assistance

€Actual Cost Repatriation

€3,000 Theft — loss or damage to
luggage

€750 Money
	 	3 month cancellation requirement 

Territory — World
	 
	 	 	 	 	 	 	 	 
	Group Survivor’s Pension Scheme
Renewal Date:
1/1/11

	 	 Goudes

7064
	 	Group Survivor’s Pension Scheme
Every Employee has their own policy
	 	3 month cancellation requirement
	 
	 	 	 	 	 	 	 	 
	Employer’s Liability for
Drivers of Auto

	 	Meijers

251110311
	 	If an employee is involved in an
accident when driving a car for
business reasons and the loss is not
	 	2 month cancellation requirement

 

	 	 	 	 	 	 	 	 	 
	Coverage:	 	INSURER/POLICY#	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	insured via any other coverage, the
employee can claim the losses /damages
on the employer. In the
Netherlands this type of loss is
excluded from the general liability
and third party liability on motor
vehicles.	 	 
	 
	 	 	 	 	 	 	 	 
	Group Health Care 

1/1/11

	 	CZ

1481622
	 	Every employee has its own policy	 	 

Local coverages for Portugal

	 	 	 	 	 	 	 	 	 
	Coverage:	 	INSURER/POLICY#	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 
	 	 	 	 	 	 
	Workers’ Compensation

	 	Imperio

22101672
	 	As stated by Law 100-97 (Required Coverage)
Treatments in Consequence of Accident
Death or Disablement in Consequence of Accident
Employer Gross Negligence Exclusion	 	 
	 
	 	 	 	 	 	 	 	 
	Motor Insurance

	 	Generali

10001040
	 	Required Coverage
Territory — Europe-Green Card Agreement
Persons Entitled to Drive — Any Person
	 	€50,000,000

Full Comprehensive

2% Deductible
	 
	 	 	 	 	 	 	 	 
	Primary Liability —

	 	Liberty
	 	Third Party Liability:
	 	Products Liability:
	Claims Made

	 	 	936495	 	 	€2,500,000 Bodily Injury — per claim / Annual
Aggregate

€2,500,000 Material Damage — per claim/Annual
Aggregate
10% min 1,000 Deductible
	 	€2,500,000 Bodily
Injury — per claim /Annual
Aggregate

€2,500,000 Property
Damage — per
claim/Annual Aggregate
10% min 2,500 Deductible
	 
	 	 	 	 	 	 	 	 
	Collective Accident

& Dismemberment

	 	Alico
5020000244
	 	All employees on Payroll
	 	€150,000 or €100,000 —
In case of death or
dismemberment due to
Accident

Local coverages for Mexico

	 	 	 	 	 	 	 
	COVERAGE	 	INSURER/POLICY#	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 
	 	 	 	 	 	 
	General Liability

	 	Chubb de Mexico
	 	Premises and
Operations
	 	$2,000,000 per
Occurrence/

 

	 	 	 	 	 	 	 
	COVERAGE	 	INSURER/POLICY#	 	COVERAGE	 	LIMITS/DEDUCTIBLES
	 
	 	 	 	 	 	 
	 

	 	 	 	Products and
Finished Works in
Mexico

-Note no coverage
applies for
claims/suits
outside of Mexico
Tenants Liability 

Loading and
Unloading
Assumed Liability 

Extensions: 

Salesmen as
Additional Insureds
Contamination,
$200,000 US 

Sublimit 

Cross Liability 

Liability due to
the use of vehicles
not owned, rented
or leased by the
Insured in excess
of the primary
limits; minimum
excess levels:
	 	$2,000,000
Aggregate

-Note: There is one
aggregate shared
between Public and
Products Liability 

Deductible: 10% of
loss, applicable
only to Products &
Finished Works and
Loading &
Unloading. No
deductible for the
rest.
	 

	 	 	 	$50,000 USD for

light vehicles

-Each event limit:	 	 
	 

	 	 	 	$500,000 USD
-Annual Aggregate
limit: $1,000,000
USD 

Liquor Liability 

Damage due to
railroad spurs
within the insureds
locations	 	 

 

Schedule 3.15

Capitalization and Subsidiaries

Part A:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Ownership by
	 	 	Jurisdiction of	 	 	 	 	 	Libbey Inc.
	Entity	 	Incorporation	 	Type of Entity	 	Direct Parent(s)	 	(Direct/Indirect)
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	Delaware
	 	Corporation
	 	Libbey Inc.
	 	Direct 100%
	 
	 	 	 	 	 	 	 	 
	The Drummond Glass 

Company

	 	Delaware
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	World Tableware Inc.

	 	Delaware
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	LGA3 Corp.

	 	Delaware
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	LGA4 Corp.

	 	Delaware
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey Canada Inc.

	 	Ontario, Canada
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Syracuse China Company

	 	Delaware
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey.com LLC

	 	Delaware
	 	Limited Liability

Company
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	LGFS Inc.

	 	Delaware
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	LGAC LLC

	 	Delaware
	 	Limited Liability

Company
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Traex Company

	 	Delaware
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	LGC Corp

	 	Delaware
	 	Corporation
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey International C.V.

	 	The Netherlands
	 	Limited Partnership
	 	Libbey Glass Inc.
LGA3 Corp.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey Europe B.V.

	 	The Netherlands
	 	Private Company
	 	Libbey
International C.V.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	B.V. Koninklijke
Nederlandsche
Glasfabriek Leerdam

	 	The Netherlands
	 	Private Company
	 	Libbey Europe B.V.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey Europe Finance
Company B.V.

	 	The Netherlands
	 	Private Company
	 	Libbey
International C.V.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey Mexico Holdings
B.V.

	 	The Netherlands
	 	Private Company
	 	Libbey Europe B.V.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Crisa Libbey Comercial,
S. de R.L. de C.V.

	 	Mexico
	 	Limited Liability

Company
	 	Libbey Mexico
Holdings B.V. 

B.V. Koninklijke
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Crisa Libbey Holding, S
de R.L. de C.V.

	 	Mexico
	 	Limited Liability

Company
	 	Crisa Libbey
Commercial 

Libbey Europe B.V.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Crisa Libbey Mexico, S

	 	Mexico
	 	Limited Liability
	 	Crisa Libbey Holding
	 	Indirect 100%

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Ownership by
	 	 	Jurisdiction of	 	 	 	 	 	Libbey Inc.
	Entity	 	Incorporation	 	Type of Entity	 	Direct Parent(s)	 	(Direct/Indirect)
	 
	 	 	 	 	 	 	 	 
	de R.L. de C.V.

	 	 	 	Company
	 	Libbey Europe B.V.	 	 
	 
	 	 	 	 	 	 	 	 
	Crisa Libbey S.A. de C.V.

	 	Mexico
	 	Corporation
	 	LGA4 Corp. 

LGA3 Corp.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Crisa Industrial LLC

	 	Delaware
	 	Limited Liability

Company
	 	LGA4 Corp. 

LGA3 Corp.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Crisal Cristalaria
Automática, S.A.

	 	Portugal
	 	Corporation
	 	Libbey Europe B.V.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey Asia Limited

	 	Hong Kong
	 	Private Company
	 	Libbey Glass Inc.
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey Glassware (China)
Co., Ltd.

	 	China
	 	Wholly Owned

Foreign Entity
	 	Libbey Asia Limited
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Libbey Trading (Beijing)
Co., Ltd.

	 	China
	 	Wholly Owned

Foreign Entity
	 	Libbey Asia Limited
	 	Indirect 100%
	 
	 	 	 	 	 	 	 	 
	Printglass Transformacao
de Vidro LDA

	 	Portugal
	 	Limited Liability

Company
	 	Crisal Cristalaria
Automatica, S.A.
Libbey Europe B.V.
	 	Indirect 19%

Part B:

1.

	 	 	 
	Borrower	 	Authorized Equity Interests
	 
	 	 
	Libbey Inc.

	 	50,000,000 shares of common stock
5,000,000 shares of preferred stock
	 
	 	 
	Libbey Glass Inc.

	 	1,000 shares of common stock
	 
	 	 
	The Drummond Glass Company

	 	1,000 shares of common stock
	 
	 	 
	World Tableware Inc.

	 	1,000 shares of common stock
	 
	 	 
	LGC Corp.

	 	1,000 shares of common stock
	 
	 	 
	LGA4 Corp.

	 	1,000 shares of common stock
	 
	 	 
	Syracuse China Company

	 	1,000 shares of common stock
	 
	 	 
	Traex Company

	 	1,000 shares of common stock
	 
	 	 
	LGFS Inc.

	 	1,000 shares of common stock
	 
	 	 
	LGA3 Corp.

	 	1,000 shares of common stock
	 
	 	 
	Liberty Canada Inc.

	 	unlimited number of shares of common
stock
unlimited number of shares of preferred
stock
	 
	 	 
	Libbey Europe B.V.

	 	21,000 shares of common stock
	 
	 	 
	B.V. Koninklijke Nederlandsche
Glasfabriek Leerdam

	 	4,100 shares of common stock
	 
	 	 
	Libbey Europe Finance Company
B.V.

	 	900 shares of common stock

 

 

	 	 	 
	Borrower	 	Authorized Equity Interests
	 
	 	 
	Libbey Mexico Holdings B.V.

	 	900 shares of common stock

 

 

Schedule 6.01

Existing Indebtedness

at February 8, 2010

	1.	 	Loan from Libbey Glass Inc. to Libbey Europe B.V. in the amount of $10,084,025.
	 
	2.	 	Loan from Libbey Glass Inc. to Libbey Glassware (China) Co. Ltd. of $3,000,000.
	 
	3.	 	Loan from Libbey Europe B.V. to Crisal Cristalaria Automatica S.A. of $12,974,897.
	 
	4.	 	Loan from Libbey Europe B.V. to Libbey Europe Finance Company B.V. of $13,599.
	 
	5.	 	Loan from Libbey Europe B.V. to Libbey Mexico Holdings B.V. of $15,978,585.
	 
	6.	 	Loan from Libbey Europe B.V. to B.V. Koninklijke Nederlandsche Glasfabriek Leerdam
of $23,171,130.
	 
	7.	 	Loan from Libbey International C.V. to Libbey Europe B.V. of $48,662,064.
	 
	8.	 	Loan from Libbey International C.V. to Libbey Europe B.V. of $46,094,596.
	 
	9.	 	Loan from Libbey Mexico Holdings B.V. to Crisa Libbey Comercial, S. de R.L. de C.V. of
$50,268,221.
	 
	10.	 	Loan from Crisa Libbey Comercial, S. de R.L. de C.V. to Crisa Libbey Holding, S. de R.L. de
C.V. of $3,834,571.
	 
	11.	 	Loan from Crisa Libbey Comercial, S. de R.L. de C.V. to Crisa Libbey Mexico, S. de R.L. de
C.V. of $45,342,021.
	 
	12.	 	Loan from Crisa Libbey Mexico, S. de R.L. de C.V. to Crisa Libbey Holding, S. de R.L. de C.V.
of $8,800,000.
	 
	13.	 	Loan from Libbey Glass Inc. to Libbey Asia Limited of $25,408,000.
	 
	14.	 	Indebtedness of Libbey Glass Inc. in respect of the promissory note issued in connection with
the purchase of the warehouse facility located in Laredo, Texas of approximately $1,477,038 at
February 8, 2010.
	 
	15.	 	Indebtedness of Libbey Glassware (China) Co., Ltd. in respect of the RMB loan contract dated
January 23, 2006 between Libbey Glassware (China) Co., Ltd. and China Construction Bank
Corporation (CCB). The original 250 million RMB loan amount has the approximate US equivalent
of $36,675,000 at February 8, 2010 (and any related Guarantees by Libbey Inc. of such
Indebtedness).
	 
	16.	 	Indebtedness of Libbey Glassware (China) Co. Ltd. in respect of the March 2007 RMB working
capital loan contract between Libbey Glassware (China) Co., Ltd. and China Construction Bank
Corporation (CCB). The original 50 million RMB loan amount has the approximate US equivalent
of $7,335,000 at February 8, 2010 (and any related Guarantees by Libbey Inc. of such
Indebtedness).

 

 

	17.	 	Indebtedness in respect of trade receivables due Libbey Glass Inc. from Libbey Glassware
(China) Co., Ltd. of approximately $18,667,472 at February 8, 2010.
	 
	18.	 	Guarantees by Libbey Inc. in respect of certain obligations under: (a) the Amended and
Restated Agreement for Provision of Electrical Power Generation Capacity and Associated
Electrical Energy, dated December 15, 1999, between Vitro Corporativo, S.A. de C.V., Enron
Energía Industrial de Mexico, S. de R.L. de C.V., and the capacity users named therein; (b)
the Electric Energy Supply Agreement, dated March 28, 2003, between Iberdrola Energía
Monterrey, S.A. de C.V., Vitrocrisa and Vidriera Monterrey, S.A. de C.V. and (c) the Lease
Agreement, dated February 17, 2004, between Constructora de Naves Industriales, S.A. de C.V.,
as lessor, and Fomento Inmobiliario y de la Construcción, S.A. de C.V., as lessee, in respect
of the plant, warehouse (47,288 sq. meters), distribution center and offices located the land
located at Av. San Nicolas No. 2121, Colonia Primero de Mayo, Monterrey, State of Nuevo Leon,
Mexico.
	 
	19.	 	Obligations of Libbey Inc. under Guaranty dated as of July ___, 2005 pursuant to which Libbey
Inc. has guaranteed to FR Caddo Parish LLC and its successors and assigns the obligations of
Libbey Glass Inc. under the Sublease dated July ___, 2005 with respect to the property located
at 5001 Greenwood Road, Shreveport, LA 71009.
	 
	20.	 	Obligations of Libbey Inc. under Corporate Guaranty of Tenant’s Obligations under Lease dated
May 13, 1998, pursuant to which Libbey Inc. has guaranteed the obligations of World Tableware
Inc. under the Lease dated May 13, 1998 between West Chicago Industrial, Ltd. and World
Tableware Inc., as amended.

 

 

Schedule 6.02

Existing Liens

	1.	 	Liens on property of Crisal Cristalaria Automática, S.A. in respect of Indebtedness Incurred
by it and outstanding as of the date of this Agreement.

	2.	 	Liens on the real property, improvements, fixtures and equipment located at 1600 Justo Penn
Road, Laredo, TX 78041 in respect of the Indebtedness described in Item 14 on Schedule 6.01.

	3.	 	Liens on property of Libbey Glassware (China) Co., Ltd. securing the Indebtedness of Libbey
Glassware (China) Co., Ltd. in respect of the Indebtedness described in Items 15 and 16 on
Schedule 6.01.

 

 

	I.	 	LIBBEY, INC.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING  NO. &	 	 
	DEBTOR	 	SECURED PARTY	 	JURISDICTION	 	DATE	 	COLLATERAL
	Libbey Inc.

	 	Bank Financial F.S.B.
	 	Delaware
	 	 50971045

3/30/2005
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Seven to Master
Lease No. 186392; Amended to include
items listed in Exhibit A of 53375525
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	Air Liquide Industrial US LP
	 	Delaware
	 	 51963389

6/27/2005
	 	Vertical Vessel 11000 Gallon Serial #A129
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	General Electric Capital Corporation
	 	Delaware
	 	 52980028

 9/27/2005
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Eight to Master
Lease No. 186392; Amended to include
items listed in Exhibit A of 61586767
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	National City Vendor Finance, LLC
	 	Delaware
	 	 61103134

 4/3/2006
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Nine to Master
Lease 186392; Amended to specify
equipment, quantities and serial numbers
for Equipment Schedule Nine to Master
Lease 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	National City Commercial Capital

Company, LLC
	 	Delaware
	 	 63796729

 10/31/06
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Ten to Master
Lease 186392; Amended to specify
equipment, quantities and serial numbers
for Equipment Schedule Ten to Master
Lease 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	National City Commercial Capital

Company, LLC
	 	Delaware
	 	 2007 1728301

 5/8/07
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Eleven to Master
Lease 186392; Amended to specify
equipment, quantities and serial numbers
for Equipment Schedule Eleven to Master
Lease 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	CSI Leasing, Inc.
	 	Delaware
	 	 2007 3833117

10/11/07
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Thirteen to Master
Lease 186392; Amended to specify
equipment and serial numbers pursuant
tot Equipment Schedule Thirteen to
Master Lease 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	De Lage Landen Financial Services, Inc.
	 	Delaware
	 	 2008 0578516

2/15/08
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Fourteen to Master
Lease 186392; Amended to specify
equipment and serial numbers pursuant
tot Equipment Schedule Fourteen to
Master Lease 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	OFC Capital Corporation
	 	Delaware
	 	 2008 1429446

4/24/08
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Fifteen to Master
Lease 186392; Amended to specify
equipment and serial numbers pursuant
tot Equipment Schedule Fifteen to Master
Lease 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	OFC Capital Corporation
	 	Delaware
	 	 2008 3453717
	 	Various computer equipment (together
with all repairs, accessions,
accessories, and replacements) pursuant
to Equipment Schedule Sixteen to

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING  NO. &	 	 
	DEBTOR	 	SECURED PARTY	 	JURISDICTION	 	DATE	 	COLLATERAL
	 

	 	 	 	 	 	10/14/08
	 	Master
Lease 186392; Amended to specify
equipment and serial numbers pursuant
tot Equipment Schedule Sixteen to Master
Lease 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	Toyota Motor Credit Corporation
	 	Delaware
	 	 2008 3503065

10/10/08
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	Toyota Motor Credit Corporation
	 	Delaware
	 	 2008 3503115

10/10/08
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	Toyota Motor Credit Corporation
	 	Delaware
	 	 2008 3503123

10/10/08
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	Toyota Motor Credit Corporation
	 	Delaware
	 	 2008 3503222

10/10/08
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	Toyota Motor Credit Corporation
	 	Delaware
	 	 2008 3503339

10/10/08
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	Toyota Motor Credit Corporation
	 	Delaware
	 	 2008 3503404

10/10/08
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Inc.

	 	Toyota Motor Credit Corporation
	 	Delaware
	 	 2009 3939656

12/9/09
	 	Leased equipment

II. LIBBEY GLASS, INC.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING  NO. &	 	 
	DEBTOR	 	SECURED PARTY	 	JURISDICTION	 	DATE	 	COLLATERAL
	Libbey Glass, Inc.

	 	General Electric Capital Corporation
	 	Delaware
	 	 52980028

9/27/2005
	 	Various computer equipment (together with all
repairs, accessions, accessories, and replacements)
pursuant to Equipment Schedule Eight to Master Lease
No. 186392; Amended to include items listed in
Exhibit A of 61586767
	 
	 	 	 	 	 	 	 	 
	Libbey Glass, Inc.

	 	Bank Financial F.S.B.
	 	Delaware
	 	 53375475

10/25/2005
	 	Various computer equipment (together with all
repairs, accessions, accessories, and replacements)
pursuant to Equipment Schedule Seven to Master Lease
No. 186392 as amended to include items listed in
Exhibit A of this Filing

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING  NO. &	 	 
	DEBTOR	 	SECURED PARTY	 	JURISDICTION	 	DATE	 	COLLATERAL
	Libbey Glass, Inc.

	 	National City Vendor Finance, LLC
	 	Delaware
	 	 61103134

4/3/2006
	 	Various computer equipment (together with all
repairs, accessions, accessories, and replacements)
pursuant to Equipment Schedule Nine to Master Lease
186392
	 
	 	 	 	 	 	 	 	 
	Libbey Glass, Inc.

	 	IBM Credit LLC
	 	Delaware
	 	 62198265
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Glass, Inc.

	 	IBM Credit LLC
	 	Delaware
	 	 62223279
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Glass, Inc.

	 	The Huntington National Bank
	 	Delaware
	 	 62513026

7/20/06
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Glass, Inc.

	 	xpedix, a division of International
Paper Company, a New York Corporation
	 	Delaware
	 	 64120796

11/27/06
	 	All packaging materials, including but not limited
to: stretch film & shrink of various sizes & types
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	Air Liquide Industrial US LP
	 	Delaware
	 	 2007 2677416

7/16/07
	 	An oxygen supply system, located at Libbey Glass,

4302 Jewella Rd, Shreveport, LA
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	National City Commercial Capital

Company, LLC
	 	Delaware
	 	 2007 2941754

8/2/07
	 	Leased equipment. Assigned and amended to specify
equipment, quantities and serial numbers for
Equipment Schedule No. Twelve to Master Lease
186392.
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	IBM Credit LLC
	 	Delaware
	 	 2007 4759600

12/17/07
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	DE Lage Landen Financial Services, Inc.
	 	Delaware
	 	 2008 0578524

2/15/08
	 	Various leased equipment pursuant to Equipment
Schedule Fourteen to Master lease 186392; Amended to
specify equipment and serial numbers pursuant to
equipment Schedule Fourteen to Master Lease No.
186392
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	OFC Capital Corporation
	 	Delaware
	 	 2008 1375797

4/21/08
	 	Various leased computer equipment pursuant to
Equipment Schedule Fifteen to Master lease 186392;
Amended to specify equipment and serial numbers
pursuant to equipment Schedule Fifteen to Master
Lease No. 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	IBM Credit LLC
	 	Delaware
	 	 2008 1856721

5/30/08
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	IBM Credit LLC
	 	Delaware
	 	 2008 1877412

6/2/08
	 	Leased equipment

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING  NO. &	 	 
	DEBTOR	 	SECURED PARTY	 	JURISDICTION	 	DATE	 	COLLATERAL
	Libbey Glass Inc.

	 	OFC Capital Corporation
	 	Delaware
	 	 2008 3453550
10/14/08
	 	Various leased computer equipment pursuant to
Equipment Schedule Sixteen to Master lease 186392;
Amended to specify equipment and serial numbers
pursuant to equipment Schedule Sixteen to Master
Lease No. 186392
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	Air Liquide Industrial U.S. LP
	 	Delaware
	 	 2009 0868544

3/18/09
	 	Leased equipment
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	IBM Credit LLC
	 	Delaware
	 	 5408437

12/28/05
	 	Leased equipment and related software
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	Banc of America Leasing & Capital, LLC
	 	Ohio
	 	 OH00118353896

8/20/07
	 	Leased equipment pursuant to contract 002-2295448-000
	 
	 	 	 	 	 	 	 	 
	Libbey Glass Inc.

	 	Banc of America Leasing & Capital, LLC
	 	Ohio
	 	 OH00121800466

12/7/07
	 	Leased equipment pursuant to contract 002-3009095-000

III. THE DRUMMOND GLASS COMPANY

None.

IV. SYRACUSE CHINA COMPANY

None.

V. WORLD TABLEWARE, INC.

None.

VI. TRAEX COMPANY

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING  NO. &	 	 
	DEBTOR	 	SECURED PARTY	 	JURISDICTION	 	DATE	 	COLLATERAL
	Traex Company

	 	Wisconsin Power and Light Company
	 	Wisconsin
	 	070017128827

1/14/07
	 	90-ton Water Chilled Cooler and attached piping
	 
	 	 	 	 	 	 	 	 
	Traex Company

	 	General Electric Capital Corporation
	 	Wisconsin
	 	20009691025

5/15/2002
	 	Milacron model: MM725-179 plastic injection
molding machine S/N: H44A0100004 and Milacron
model: MM725-116 plastic injection molding
machine S/N: H44A0100002; Amended to change
the address of the Debtor; Continuation filed
1/30/07

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	FILING  NO. &	 	 
	DEBTOR	 	SECURED PARTY	 	JURISDICTION	 	DATE	 	COLLATERAL
	Traex Company

	 	General Electric Capital Corporation
	 	Delaware
	 	20070379908

1/30/07
	 	Leased equipment.

VII. LGC CORP.

None.

VIII. LGFS INC.

None.

IX. LGA3 CORP.

None.

X. LGA4 CORP.

None.

XI. LGAC LLC

None.

XII. LIBBEY.COM LLC

None.

 

 

Schedule 6.04

Existing Investments

	1.	 	The Indebtedness described in #’s 1 through 14 and Guarantees by Libbey Inc. of the
Indebtedness relating to 15 and 16 on Schedule 6.01.
	 
	2.	 	Investments in Printglass-Transformacao de Vidro LDA by Crisal-Cristataria Automatica, S.A.
representing approximately 19% of the outstanding sociedade por quotas of
Printglass-Transformacao de Vidro LDA.
	 
	3.	 	All equity investments in direct and indirect Subsidiaries of the U.S. Borrower, as of the
date of this Agreement, as depicted in the organization chart below.

 

 

Schedule 6.10

Existing Restrictions

	1.	 	Provisions contained in the mortgage/deed of trust and assignment of leases and rents
securing the Indebtedness described in Item 14 of Schedule 6.01, to the extent that such
provisions purport to limit the ability of Libbey Glass Inc. to create or incur liens on the
real property, fixtures and equipment located at Laredo, Texas warehouse encumbered by those
documents.
	 
	2.	 	Provisions of documents evidencing or securing the Indebtedness described in Items 15 and 16
of Schedule 6.01 to the extent that such provisions purport to:

	 	a.	 	Require Libbey Glassware (China) Co., Ltd. to obtain the applicable lender’s
consent before granting any security interest to any third party if doing so may affect
Libbey Glassware (China) Co., Ltd.’s repayment capability under the loan contract;
	 
	 	b.	 	Trigger a default or event of default under the loan contract if Libbey Inc.,
the guarantor, provides a lien in excess of its capacity to guarantee the obligations
under the loan contract; or
	 
	 	c.	 	Limit the ability of Libbey Glassware (China) Co., Ltd. to create, incur or
permit to exist any lien on Libbey Glassware (China) Co., Ltd.’s property.

	3.	 	Provisions in the documents evidencing Indebtedness of Crisal-Cristalaria Automática, S.A. to
Banco Espírito Santo, S.a. in existence as of the date of this Agreement, to the extent such
provisions purport to limit the ability of Crisal-Cristalaria Automática, S.A to create,
incur or permit to exist any lien on the real property, improvements and equipment of
Crisal-Cristalaria Automática, S.A.

 

 

EXHIBIT A

FORM OF

ASSIGNMENT AND ASSUMPTION AGREEMENT

     This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the
“Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used
but not defined herein shall have the meanings given to them in the Credit Agreement identified
below (as amended, supplemented or otherwise modified, the “Credit Agreement”), receipt of
a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set
forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made
a part of this Assignment and Assumption as if set forth herein in full.

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

	 	 	 	 	 	 
	 	1.

	 	Assignor:
	 	                                        
	 
	 	 	 	 
	 	2.

	 	Assignee:
	 	                                        

[and is an Affiliate/Approved Fund of [identify Lender]]
	 
	 	 	 	 
	 	3.

	 	Borrower(s):
	 	                                        
	 
	 	 	 	 
	 	4.

	 	Administrative Agent(s):
	 	
                    
                    , as the administrative agents
under the Credit Agreement
	 
	 	 	 	 
	 	5.

	 	Credit Agreement:
	 	The Amended and Restated Credit Agreement dated as of
February 8, 2010 among Libbey Glass Inc. and Libbey Europe B.V., as Borrowers, Libbey
Inc., as a Loan Guarantor, the Lenders parties thereto, JPMorgan Chase Bank, N.A., as
Administrative Agent with respect to the US Loans, J.P. Morgan Europe Limited, as
Administrative Agent with respect to the Netherlands Loans, and the other agents
parties thereto

 

 

	 	 	 	 	 	 
	 	6.

	 	Assigned Interest:	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Amount of	 	Amount of	 	 
	 	 	Commitment/Loans for	 	Commitment/Loans 	 	Percentage Assigned of
	Facility Assigned	 	 all Lenders	 	Assigned	 	 Commitment/Loans
	 
	 	$	 	 	 	$	 	 	 	 	                    	%
	 
	 	$	 	 	 	$	 	 	 	 	                    	%
	 
	 	$	 	 	 	$	 	 	 	 	                    	%

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

The Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire
in which the Assignee designates on or more credit contacts to whom all syndicate-level information
(which may contain material non-public information about the Company, the Loan Parties and their
Affiliates or their respective securities) will be made available and who may receive such information in
accordance with the Assignee’s compliance procedures and applicable laws, including Federal and
state securities laws.

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

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	
 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	
 	 
	 	 	Title: 	 
	 	 	 	 
	 

	 	 	 	 	 
	Consented to and Accepted:

JPMORGAN CHASE BANK, N.A., as an

Administrative Agent

 	 	 
	By  	
 	 	 
	 	Title: 	 	 
	 	 	 	 

-2-

 

	 	 	 	 	 

	 	 	 	 	 
	J.P. MORGAN EUROPE LIMITED, as an

Administrative Agent

 	 	 
	By  	
 	 	 
	 	Title: 	 	 
	 	 	 	 
	 
	Consented to:

[LIBBEY GLASS, INC., as

Borrower Representative

 	 	 
	By  	
 	 	 
	 	Title:] 	 	 
	 	 	 	 
	 
	[ISSUING BANK]

 	 	 
	By:  	
 	 	 
	 	Title: 	 	 
	 	 	 	 

-3-

 

	 	 	 	 	 

ANNEX 1

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

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

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

          2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees
and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date.

          3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by facsimile shall be effective as delivery of a manually executed
counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed
by, and construed in accordance with, the law of the State of New York.

-4- 

 

EXHIBIT B

[RESERVED]

 

 

EXHIBIT C

FORM OF

US BORROWING BASE CERTIFICATE

	 	 	 	 	 	 	 
	BORROWING BASE REPORT
	 	 	 	 	 	 	Rpt #
	Obligor Number:	 	 	 	 	 	Date:
	Loan Number:	 	 	 	 	 	Period Covered:                    to                    
	COLLATERAL CATEGORY	 	A/R	 	Inventory	 	TOTAL
	Description
	 	 	 	 	 	 
	1 Beginning Balance (Previous report — Line 8)
	 	 	 	 	 	 
	2 Additions to Collateral (Gross Sales or Purchases)
	 	 	 	 	 	 
	3 Other Additions (Add back any non-A/R cash in
line 3
	 	 	 	 	 	 
	4 Deductions to Collateral (Cash Received)
	 	 	 	 	 	 
	5 Deductions to Collateral (Discounts, other)
	 	 	 	 	 	 
	6 Deductions to Collateral (Credit Memos, all)
	 	 	 	 	 	 
	7 Other non-cash credits to A/R
	 	 	 	 	 	 
	8 Total Ending Collateral Balance
	 	 	 	 	 	 
	9 Less Ineligible — Past Due
	 	 	 	 	 	 
	10 Less Ineligible  — Cross-age (___%)
	 	 	 	 	 	 
	11 Less Ineligible — Foreign
	 	 	 	 	 	 
	12 Less Ineligible — Contra
	 	 	 	 	 	 
	13 Less Ineligible — Other (attached schedule)
	 	 	 	 	 	 
	14 Total Ineligibles — Accounts Receivable
	 	 	 	 	 	 
	15 Less Ineligible — Inventory Slow-moving
	 	 	 	 	 	 
	16 Less Ineligible — Inventory Offsite not covered
	 	 	 	 	 	 
	17 Less Ineligible — Inventory WIP
	 	 	 	 	 	 
	18 Less Ineligible — Consigned
	 	 	 	 	 	 
	19 Less Ineligible — Other (attached schedule)
	 	 	 	 	 	 
	20 Total Ineligibles Inventory
	 	 	 	 	 	 
	21 Total Eligible Collateral
	 	 	 	 	 	 
	22 Advance Rate Percentage
	 	 	 	 	 	 
	23 Net Available — Borrowing Base Value
	 	 	 	 	 	 
	24 Reserves
	 	 	 	 	 	 
	25 Total Borrowing Base Value
	 	 	 	 	 	 
	26 CAPS/Loan Limits

	 	 	 	 	 	Total CAPS/Loan Line
	27 Maximum Borrowing Limit (Lesser of 25. or 26.)*

	 	 	 	 	 	Total Available
	 
	 	 	 	 	 	 
	LOAN STATUS
	 	 	 	 	 	 
	28 Previous Loan Balance (Previous Report Line 31)
	 	 	 	 	 	 
	29 Less: A. Net Collections (Same as line 4)

	 	 	 	 	 	 
	
B. Adjustments/Other                     
	 	 	 	 	 	 
	30 Add: A. Request for Funds

	 	 	 	 	 	 
	
B. Adjustments/Other                     
	 	 	 	 	 	 
	31 New Loan Balance
	 	 	 	 	 	 
	32 Letter of Credit/BA’s outstanding
	 	 	 	 	 	 
	33 Availability Not Borrowed (Lines 27 less 31 & 32)
	 	 	 	 	 	 
	34 OVERALL EXPOSURE (line 31)
	 	 	 	 	 	 

Pursuant to, and in accordance with, the terms and provisions of that certain Amended and Restated Credit Agreement
(as modified, supplemented or otherwise modified, the “Agreement”), among JPMorgan Chase Bank, N.A., as
administrative agent for the Lenders with respect to US Loans, J.P. Morgan Europe Limited, as administrative agent
for the Lenders with respect to the Netherlands Loans, the Loan Parties party thereto, and Libbey Glass Inc.
(“Borrower Representative”) and Libbey Europe B.V., Borrower Representative is executing and delivering to
Administrative Agent this Collateral Report accompanied by supporting data (collectively referred to as the
“Report”). Borrower Representative represents and warrants to Administrative Agent that this Report is true and
correct, and is based on information contained in its own financial accounting records. Borrower Representative, by
the execution of this Report, hereby ratifies, confirms and affirms all of the terms, conditions and provisions of
the Agreement, and further certifies on this                      day of                                         , 20___, that it is in compliance with
said Agreement.

			
	 	 	 
	BORROWER REPRESENTATIVE’S NAME:
	 	AUTHORIZED SIGNATURE:
	Libbey Glass Inc.	 	 

 

 

EXHIBIT D

FORM OF

NETHERLANDS BORROWING BASE CERTIFICATE

	 	 	 	 	 	 	 
	BORROWING BASE REPORT
	 	 	 	 	 	 	Rpt #
	Obligor Number:	 	 	 	 	 	Date:
	Loan Number:	 	 	 	 	 	Period Covered:
                    
to
                    
	COLLATERAL CATEGORY	 	A/R	 	Inventory	 	TOTAL
	Description
	 	 	 	 	 	 
	1 Beginning Balance (Previous report — Line 8)
	 	 	 	 	 	 
	2 Additions to Collateral (Gross Sales or Purchases)
	 	 	 	 	 	 
	3 Other Additions (Add back any non-A/R cash in
line 3
	 	 	 	 	 	 
	4 Deductions to Collateral (Cash Received)
	 	 	 	 	 	 
	5 Deductions to Collateral (Discounts, other)
	 	 	 	 	 	 
	6 Deductions to Collateral (Credit Memos, all)
	 	 	 	 	 	 
	7 Other non-cash credits to A/R
	 	 	 	 	 	 
	8 Total Ending Collateral Balance
	 	 	 	 	 	 
	9 Less Ineligible — Past Due
	 	 	 	 	 	 
	10 Less Ineligible  — Cross-age (___%)
	 	 	 	 	 	 
	11 Less Ineligible — Foreign
	 	 	 	 	 	 
	12 Less Ineligible — Contra
	 	 	 	 	 	 
	13 Less Ineligible — Other (attached schedule)
	 	 	 	 	 	 
	14 Total Ineligibles — Accounts Receivable
	 	 	 	 	 	 
	15 Less Ineligible — Inventory Slow-moving
	 	 	 	 	 	 
	16 Less Ineligible — Inventory Offsite not covered
	 	 	 	 	 	 
	17 Less Ineligible — Inventory WIP
	 	 	 	 	 	 
	18 Less Ineligible — Consigned
	 	 	 	 	 	 
	19 Less Ineligible — Other (attached schedule)
	 	 	 	 	 	 
	20 Total Ineligibles Inventory
	 	 	 	 	 	 
	21 Total Eligible Collateral
	 	 	 	 	 	 
	22 Advance Rate Percentage
	 	 	 	 	 	 
	23 Net Available — Borrowing Base Value
	 	 	 	 	 	 
	24 Reserves
	 	 	 	 	 	 
	25 Total Borrowing Base Value
	 	 	 	 	 	 
	26 CAPS/Loan Limits

	 	 	 	 	 	Total CAPS/Loan Line
	27 Maximum Borrowing Limit (Lesser of 25. or 26.)*

	 	 	 	 	 	Total Available
	 
	 	 	 	 	 	 
	LOAN STATUS
	 	 	 	 	 	 
	28 Previous Loan Balance (Previous Report Line 31)
	 	 	 	 	 	 
	29 Less: A. Net Collections (Same as line 4)
	 	 	 	 	 	 
	B. Adjustments/Other                     
	 	 	 	 	 	 
	30 Add: A. Request for Funds
	 	 	 	 	 	 
	B. Adjustments/Other                     
	 	 	 	 	 	 
	31 New Loan Balance
	 	 	 	 	 	 
	32 Letter of Credit/BA’s outstanding
	 	 	 	 	 	 
	33 Availability Not Borrowed (Lines 27 less 31 & 32)
	 	 	 	 	 	 
	34 OVERALL EXPOSURE (lines31)
	 	 	 	 	 	 

Pursuant to, and in accordance with, the terms and provisions of that certain Amended and Restated Credit Agreement
(as amended, supplemented or otherwise modified, the “Agreement”), among JPMorgan Chase Bank, N.A., as administrative
agent for the Lenders with respect to US Loans, J.P. Morgan Europe Limited, as administrative agent for the Lenders
with respect to the Netherlands Loans, the Loan Parties party thereto, and Libbey Glass Inc. (“Borrower
Representative”) and Libbey Europe B.V., Borrower Representative is executing and delivering to Administrative Agent
this Collateral Report accompanied by supporting data (collectively referred to as the “Report”). Borrower
Representative represents and warrants to Administrative Agent that this Report is true and correct, and is based on
information contained in its own financial accounting records. Borrower Representative, by the execution of this
Report, hereby ratifies, confirms and affirms all of the terms, conditions and provisions of the Agreement, and
further certifies on this                      day of                                         , 20___, that it is in compliance with said Agreement.

			
	 	 	 
	BORROWER REPRESENTATIVE’S NAME:
	 	AUTHORIZED SIGNATURE:
	Libbey Glass Inc.	 	 

 

 

EXHIBIT E

[RESERVED]

 

 

EXHIBIT F

[RESERVED]

 

 

EXHIBIT G

COMPLIANCE CERTIFICATE

	To: 	 	 The Lenders parties to the 
Credit Agreement Described Below

     This Compliance Certificate (this “Certificate”) is furnished pursuant to that certain Amended
and Restated Credit Agreement dated as of February 8, 2010 (as amended, modified, renewed or
extended from time to time, the “Agreement”) among LIBBEY GLASS, INC. and LIBBEY EUROPE, B.V.
(collectively, the “Borrowers”), LIBBEY INC., as a Loan Guarantor (“Holdings”), the other Loan
Parties party thereto, the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative
Agent for the Lenders with respect to the US Loans, and J.P. Morgan Europe Limited, as
Administrative Agent for the Lenders with respect to the Netherlands Loans. Unless otherwise
defined herein, capitalized terms used in this Compliance Certificate have the meanings ascribed
thereto in the Agreement.

     THE UNDERSIGNED HEREBY CERTIFIES, ON ITS BEHALF AND ON BEHALF OF THE BORROWERS, THAT:

     1. I am the duly elected                      of the Borrower Representative;

     2. I have reviewed the terms of the Agreement and I have made, or have caused to be made under
my supervision, a detailed review of the transactions and conditions of Holdings and its
consolidated Subsidiaries during the accounting period covered by the attached financial statements
[and such [quarterly][monthly] financial statements present fairly in all material respects the
financial condition and results of operations of Holdings and its consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit
adjustments and the absence of footnotes]; [To be included only in the case of monthly and
quarterly financial statements]

     3. Except as set forth below, I have no knowledge of (i) the existence of any condition or
event which constitutes a Default during or at the end of the accounting period covered by the
attached financial statements or as of the date of this Certificate or (ii) any change in GAAP or
in the application thereof that has occurred since the date of the audited financial statements
referred to in Section 3.04 of the Agreement that would affect the financial statements
accompanying this Compliance Certificate;

     4. I hereby certify that no Loan Party has changed (i) its name, (ii) its chief executive
office, (iii) principal place of business, (iv) the type of entity it is or (v) its state of
incorporation or organization without having given the Administrative Agent the notice required by
Section 4.15 of the U.S. Security Agreement and [applicable Section of applicable Netherlands
Security Agreement]; and

 

 

     Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the (i)
nature of the condition or event, the period during which it has existed and the action which the
Borrowers have taken, are taking, or propose to take with respect to each such condition or event
or (i) the change in GAAP or the application thereof and the effect of such change on the attached
financial statements:

 

 
 

 

 
 

 

 
 

 

     The foregoing certifications and the financial statements delivered with this Compliance
Certificate in support hereof, are made and delivered this            day of                     ,           .

	 	 	 	 	 
	 	LIBBEY GLASS INC., as

Borrower Representative

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

-2-

 

EXHIBIT H

JOINDER AGREEMENT

     THIS JOINDER AGREEMENT (this “Agreement”), dated as of                     , 20     , is entered
into between                                         , a                      (the “New Subsidiary”), and
JPMORGAN CHASE BANK, N.A., in its capacity as an administrative agent (the “US Administrative
Agent”) and J.P. MORGAN EUROPE LIMITED (the “Netherlands Administrative Agent”,
together with US Administrative Agent, each an “Administrative Agent” and collectively, the
“Administrative Agents”) under that certain Amended and Restated Credit Agreement, dated as
of February 8, 2010, among LIBBEY GLASS, INC. and LIBBEY EUROPE, B.V. (collectively, the
“Borrowers”), LIBBEY INC., as a Loan Guarantor, the Loan Parties party thereto, the Lenders
party thereto and the Administrative Agents (as the same may be amended, modified, extended or
restated from time to time, the “Credit Agreement”). All capitalized terms used herein and
not otherwise defined shall have the meanings set forth in the Credit Agreement.

     The New Subsidiary and the Administrative Agents, for the benefit of the Lenders, hereby agree
as follows:

     1. The New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this
Agreement, the New Subsidiary will be deemed to be a Loan Party under the Credit Agreement and a
“Loan Guarantor” for all purposes of the Credit Agreement and shall have all of the obligations of
a Loan Party and a Loan Guarantor thereunder as if it had executed the Credit Agreement. The New
Subsidiary hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms,
provisions and conditions contained in the Credit Agreement, including without limitation (a) all
of the representations and warranties of the Loan Parties set forth in Article III of the Credit
Agreement, (b) all of the covenants set forth in Articles V and VI of the Credit Agreement and (c)
all of the guaranty obligations set forth in Article X of the Credit Agreement. Without limiting
the generality of the foregoing terms of this paragraph 1, the New Subsidiary, subject to the
limitations set forth in Section 10.10 of the Credit Agreement, hereby guarantees, jointly and
severally with the other Loan Guarantors, to the applicable Administrative Agent and the Lenders,
as provided in Article X of the Credit Agreement, the prompt payment and performance of the Secured
Obligations in full when due (whether at stated maturity, as a mandatory prepayment, by
acceleration or otherwise) strictly in accordance with the terms thereof and agrees that if any of
the Secured Obligations are not paid or performed in full when due (whether at stated maturity, as
a mandatory prepayment, by acceleration or otherwise), the New Subsidiary will, jointly and
severally together with the other Loan Guarantors, promptly pay and perform the same, without any
demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of
any of the Secured Obligations, the same will be promptly paid in full when due (whether at
extended maturity, as a mandatory prepayment, by acceleration or otherwise) in accordance with the
terms of such extension or renewal.

     2. If required, the New Subsidiary is, simultaneously with the execution of this Agreement,
executing and delivering such Collateral Documents (and such other documents and instruments) as
requested by the applicable Administrative Agent in accordance with the Credit Agreement.

     3. The address of the New Subsidiary for purposes of Section 9.01 of the Credit Agreement is
as follows:

 

 
 

 

 
 

 

 

 
 

 

 
 

 

     4. The New Subsidiary hereby waives acceptance by the Administrative Agents and the Lenders of
the guaranty by the New Subsidiary upon the execution of this Agreement by the New Subsidiary.

     5. This Agreement may be executed in any number of counterparts, each of which when so
executed and delivered shall be an original, but all of which shall constitute one and the same
instrument.

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

     IN WITNESS WHEREOF, the New Subsidiary has caused this Agreement to be duly executed by its
authorized officer, and the applicable Administrative Agent, for the benefit of the Lenders, has
caused the same to be accepted by its authorized officer, as of the day and year first above
written.

	 	 	 	 	 
	 	[NEW SUBSIDIARY]

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Acknowledged and accepted:

JPMORGAN CHASE BANK, N.A., as Administrative 
Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	J.P. MORGAN EUROPE LIMITED, as Administrative

Agent

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

-2-

 

EXHIBIT I

FORM OF

AGGREGATE BORROWING BASE CERTIFICATE

	 	 	 	 	 	 	 
	AGGREGATE BORROWING BASE REPORT
	 	 	 	 	 	 	Rpt #
	Obligor Number:	 	 	 	 	 	Date:
	Loan Number:	 	 	 	 	 	Period Covered:
                    
to
                    
	COLLATERAL CATEGORY	 	A/R	 	Inventory	 	TOTAL
	Description
	 	 	 	 	 	 
	1 Beginning Balance (Previous report — Line 8)
	 	 	 	 	 	 
	2 Additions to Collateral (Gross Sales or Purchases)
	 	 	 	 	 	 
	3 Other Additions (Add back any non-A/R cash in
line 3
	 	 	 	 	 	 
	4 Deductions to Collateral (Cash Received)
	 	 	 	 	 	 
	5 Deductions to Collateral (Discounts, other)
	 	 	 	 	 	 
	6 Deductions to Collateral (Credit Memos, all)
	 	 	 	 	 	 
	7 Other non-cash credits to A/R
	 	 	 	 	 	 
	8 Total Ending Collateral Balance
	 	 	 	 	 	 
	9 Less Ineligible — Past Due
	 	 	 	 	 	 
	10 Less Ineligible  — Cross-age (___%)
	 	 	 	 	 	 
	11 Less Ineligible — Foreign
	 	 	 	 	 	 
	12 Less Ineligible — Contra
	 	 	 	 	 	 
	13 Less Ineligible — Other (attached schedule)
	 	 	 	 	 	 
	14 Total Ineligibles — Accounts Receivable
	 	 	 	 	 	 
	15 Less Ineligible — Inventory Slow-moving
	 	 	 	 	 	 
	16 Less Ineligible — Inventory Offsite not covered
	 	 	 	 	 	 
	17 Less Ineligible — Inventory WIP
	 	 	 	 	 	 
	18 Less Ineligible — Consigned
	 	 	 	 	 	 
	19 Less Ineligible — Other (attached schedule)
	 	 	 	 	 	 
	20 Total Ineligibles Inventory
	 	 	 	 	 	 
	21 Total Eligible Collateral
	 	 	 	 	 	 
	22 Advance Rate Percentage
	 	 	 	 	 	 
	23 Net Available — Borrowing Base Value
	 	 	 	 	 	 
	24 Reserves
	 	 	 	 	 	 
	25 Total Borrowing Base Value
	 	 	 	 	 	 
	26 CAPS/Loan Limits

	 	 	 	 	 	Total CAPS/Loan Line
	27 Maximum Borrowing Limit (Lesser of 25. or 26.)*

	 	 	 	 	 	Total Available
	 
	 	 	 	 	 	 
	LOAN STATUS
	 	 	 	 	 	 
	28 Previous Loan Balance (Previous Report Line 31)
	 	 	 	 	 	 
	29 Less: A. Net Collections (Same as line 4)
	 	 	 	 	 	 
	B. Adjustments/Other                     
	 	 	 	 	 	 
	30 Add: A. Request for Funds
	 	 	 	 	 	 
	B. Adjustments/Other                     
	 	 	 	 	 	 
	31 New Loan Balance
	 	 	 	 	 	 
	32 Letter of Credit/BA’s outstanding
	 	 	 	 	 	 
	33 Availability Not Borrowed (Lines 27 less 31 & 32)
	 	 	 	 	 	 
	34 OVERALL EXPOSURE (lines31
	 	 	 	 	 	 

Pursuant to, and in accordance with, the terms and provisions of that certain Amended and Restated Credit Agreement
(as amended, restated, supplemented or otherwise modified, the “Agreement”), among JPMorgan Chase Bank, N.A., as
administrative agent for the Lenders with respect to the US Loans, J.P. Morgan Europe Limited, as administrative
agent for the Lenders with respect to the Netherlands Loans, the Loan Parties party thereto, and Libbey Glass Inc.
(“Borrower Representative”) and Libbey Europe B.V. (collectively, “Borrowers”), Borrower Representative, on behalf of
the Borrowers, is executing and delivering to Administrative Agent this Collateral Report accompanied by supporting
data (collectively referred to as the “Report”). Borrower Representative, on behalf of the Borrowers, represents and
warrants to Administrative Agent that this Report is true and correct, and is based on information contained in the
Borrowers’ own financial accounting records. Borrower Representative, by the execution of this Report, hereby
ratifies, confirms and affirms all of the terms, conditions and provisions of the Agreement, and further certifies on
this                     
day of                            ,
20___, that the Borrowers are in compliance with said Agreement.

			
	 	 	 
	BORROWER REPRESENTATIVE’S NAME:
	 	AUTHORIZED SIGNATURE:
	Libbey Glass Inc.	 	 

 

 

EXHIBIT J

[RESERVED]

 

 

EXHIBIT K

[RESERVED]

 

 

EXHIBIT L

FORM OF BORROWING REQUEST

LIBBEY GLASS INC.

	 	 	 
	Borrowing Request

	 	Date:
	 

JPMorgan Chase Bank, N.A.

120 S. LaSalle Street

Chicago, IL 60603

Attention:                      - Operations1

Ladies and Gentlemen:

This Borrowing Request is furnished pursuant to Section 2.03 of that certain Amended and Restated
Credit Agreement dated as of February 8, 2010 (as amended, modified, renewed or extended from time
to time, the “Agreement”) among LIBBEY GLASS INC. (the “Borrower Representative”) and LIBBEY
EUROPE, B.V. as Borrowers, LIBBEY INC. as a Loan Guarantor, the other Loan Parties thereto, the
Lenders party thereto, JPMORGAN CHASE BANK, N.A. (“Chase”) as Administrative Agent for the Lenders
with respect to the US Loans and J.P. MORGAN EUROPE LIMITED as Administrative Agent with respect to
the Netherlands Loans. Unless otherwise defined herein, capitalized terms used in this Borrowing
Request have the meanings ascribed thereto in the Agreement. The Borrower Representative represents
that, as of this date, the conditions precedent set forth in Section 4.02 are satisfied.

	1.	 	The Borrower Representative hereby notifies Chase of its request of the following Borrowing:

	 	(1)	 	Borrower:                                         
	 
	 	(2)	 	The Borrowing shall be a ___ CBFR Borrowing or ______ Eurocurrency Borrowing
	 
	 	(3)	 	Borrowing Date of the Borrowing (must be a Business Day):                                         
	 
	 	(4)	 	Aggregate Amount of the Borrowing (specify whether in $ or €):                                         
	 
	 	(5)	 	Borrowing shall ___ shall not ___ be made pursuant to Revolving Netherlands
Sublimit
	 
	 	(6)	 	If a Eurocurrency Borrowing, the duration of Interest Period:

One Month                      Three Months                     

Two Months                      Six Months                     

	 	 	 	 	 
	 	LIBBEY GLASS INC., as

Borrower Representative

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	1	 	In the case of Borrowings in Euros, address
details are as follows: JPMorgan Europe Limited, 125 London Wall, London EC2Y 5
AJ, Attention: Steve Clarke.

 

 

Do not write below. For bank purposes only

	 	 	 	 	 	 	 	 	 
	___Customer’s signature(s) verified	 	 	 	___Call-back performed
	 
	 	 	 	 	 	 	 	 
	Holds

	 	 	 	By:	 	 	 	 
	 	 	 	 	 	 	 
	___CFC Used

	 	 	 	 	 	Phone Number:
	 	 
	 

	 	 	 	 	 	 	 	 
	___Hold Placed/Pre-Approved

	 	 	 	 	 	Spoke to:	 	 
	 

	 	 	 	 	 	 	 	 
	___Same-day Credit/Pre-Approved

	 	 	 	 	 	Date:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Time:	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	RECEIVED BY (Print Name/Phone(Request Only))	 	INITIALS	 	PROCESSED BY
(Print name)            INITIALS
	 
	 	 	 	 	 	 	 	 
	AUTHORIZED APPROVAL (Print Name)	 	 	 	AUTHORIZED SIGNATURE
	 
	 	 	 	 	 	 	 	 
	AUTHORIZED APPROVAL (Print Name)	 	 	 	AUTHORIZED SIGNATURE

-2-exv4w2

Exhibit 4.2

EXECUTION VERSION

 

LIBBEY GLASS INC.

AND

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

AS TRUSTEE

10% Senior Secured Notes due 2015

 

INDENTURE

Dated as of February 8, 2010

 

 

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I
	 	 	 	 
	DEFINITIONS AND INCORPORATION BY REFERENCE
	 	 	 	 
	 
	 	 	 	 
	SECTION 1.1. Definitions
	 	 	1	 
	SECTION 1.2. Other Definitions
	 	 	35	 
	SECTION 1.3. Incorporation by Reference of Trust Indenture Act
	 	 	36	 
	SECTION 1.4. Rules of Construction
	 	 	37	 
	 
	 	 	 	 
	ARTICLE II
	 	 	 	 
	THE SECURITIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 2.1. Form, Dating and Terms
	 	 	37	 
	SECTION 2.2. Execution and Authentication
	 	 	45	 
	SECTION 2.3. Registrar and Paying Agent
	 	 	46	 
	SECTION 2.4. Paying Agent to Hold Money in Trust
	 	 	47	 
	SECTION 2.5. Holder Lists
	 	 	47	 
	SECTION 2.6. Transfer and Exchange
	 	 	48	 
	SECTION 2.7. Form of Certificate to be Delivered in Connection with Transfers to IAIs
	 	 	51	 
	SECTION 2.8. Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S
	 	 	53	 
	SECTION 2.9. Mutilated, Destroyed, Lost or Stolen Securities
	 	 	54	 
	SECTION 2.10. Outstanding Securities
	 	 	55	 
	SECTION 2.11. Temporary Securities
	 	 	55	 
	SECTION 2.12. Cancellation
	 	 	56	 
	SECTION 2.13. Payment of Interest; Defaulted Interest
	 	 	56	 
	SECTION 2.14. Computation of Interest
	 	 	57	 
	SECTION 2.15. CUSIP, Common Code and ISIN Numbers
	 	 	57	 
	 
	 	 	 	 
	ARTICLE III
	 	 	 	 
	COVENANTS
	 	 	 	 
	 
	 	 	 	 
	SECTION 3.1. Payment of Securities
	 	 	57	 
	SECTION 3.2. Limitation on Indebtedness
	 	 	58	 
	SECTION 3.3. Limitation on Restricted Payments
	 	 	63	 
	SECTION 3.4. Limitation on Restrictions on Distributions from Restricted Subsidiaries
	 	 	68	 
	SECTION 3.5. Limitation on Sales of Assets and Subsidiary Stock
	 	 	70	 
	SECTION 3.6. Limitation on Liens
	 	 	74	 
	SECTION 3.7. [Reserved]
	 	 	74	 
	SECTION 3.8. Limitation on Affiliate Transactions
	 	 	74	 
	SECTION 3.9. Limitation on Sale of Capital Stock of Restricted Subsidiaries
	 	 	76	 
	SECTION 3.10. Limitation on Lines of Business
	 	 	77	 

-i-

 

	 	 	 	 	 
	 	 	Page	 
	SECTION 3.11. Change of Control
	 	 	77	 
	SECTION 3.12. SEC Reports
	 	 	78	 
	SECTION 3.13. Future Subsidiary Guarantors
	 	 	79	 
	SECTION 3.14. Maintenance of Office or Agency
	 	 	80	 
	SECTION 3.15. Corporate Existence
	 	 	80	 
	SECTION 3.16. Payment of Taxes and Other Claims
	 	 	81	 
	SECTION 3.17. [Reserved]
	 	 	81	 
	SECTION 3.18. Compliance Certificate
	 	 	81	 
	SECTION 3.19. Further Instruments and Acts
	 	 	81	 
	SECTION 3.20. Statement by Officers as to Default
	 	 	81	 
	SECTION 3.21. Effectiveness of Certain Covenants
	 	 	82	 
	 
	 	 	 	 
	ARTICLE IV
	 	 	 	 
	SUCCESSOR COMPANY
	 	 	 	 
	 
	 	 	 	 
	SECTION 4.1. Merger and Consolidation
	 	 	82	 
	 
	 	 	 	 
	ARTICLE V
	 	 	 	 
	REDEMPTION OF SECURITIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 5.1. Redemption
	 	 	85	 
	SECTION 5.2. Applicability of Article
	 	 	85	 
	SECTION 5.3. Election to Redeem; Notice to Trustee
	 	 	85	 
	SECTION 5.4. Selection by Trustee of Securities to Be Redeemed
	 	 	85	 
	SECTION 5.5. Notice of Redemption
	 	 	86	 
	SECTION 5.6. Deposit of Redemption Price
	 	 	87	 
	SECTION 5.7. Securities Payable on Redemption Date
	 	 	87	 
	SECTION 5.8. Securities Redeemed in Part
	 	 	87	 
	 
	 	 	 	 
	ARTICLE VI
	 	 	 	 
	DEFAULTS AND REMEDIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 6.1. Events of Default
	 	 	88	 
	SECTION 6.2. Acceleration
	 	 	90	 
	SECTION 6.3. Other Remedies
	 	 	91	 
	SECTION 6.4. Waiver of Past Defaults
	 	 	91	 
	SECTION 6.5. Control by Majority
	 	 	91	 
	SECTION 6.6. Limitation on Suits
	 	 	92	 
	SECTION 6.7. Rights of Holders to Receive Payment
	 	 	92	 
	SECTION 6.8. Collection Suit by Trustee
	 	 	92	 
	SECTION 6.9. Trustee May File Proofs of Claim
	 	 	92	 
	SECTION 6.10. Priorities
	 	 	93	 
	SECTION 6.11. Undertaking for Costs
	 	 	93	 

-ii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE VII
	 	 	 	 
	TRUSTEE
	 	 	 	 
	 
	 	 	 	 
	SECTION 7.1. Duties of Trustee
	 	 	93	 
	SECTION 7.2. Rights of Trustee
	 	 	95	 
	SECTION 7.3. Individual Rights of Trustee
	 	 	96	 
	SECTION 7.4. Trustee’s Disclaimer
	 	 	96	 
	SECTION 7.5. Notice of Defaults
	 	 	96	 
	SECTION 7.6. Reports by Trustee to Holders
	 	 	97	 
	SECTION 7.7. Compensation and Indemnity
	 	 	97	 
	SECTION 7.8. Replacement of Trustee
	 	 	98	 
	SECTION 7.9. Successor Trustee by Merger
	 	 	99	 
	SECTION 7.10. Eligibility; Disqualification
	 	 	100	 
	SECTION 7.11. Preferential Collection of Claims Against the Company
	 	 	100	 
	SECTION 7.12. Trustee’s Application for Instruction from the Company
	 	 	100	 
	SECTION 7.13. Paying Agents
	 	 	100	 
	 
	 	 	 	 
	ARTICLE VIII
	 	 	 	 
	DISCHARGE OF INDENTURE; DEFEASANCE
	 	 	 	 
	 
	 	 	 	 
	SECTION 8.1. Discharge of Liability on Securities; Defeasance
	 	 	101	 
	SECTION 8.2. Conditions to Defeasance
	 	 	102	 
	SECTION 8.3. Application of Trust Money
	 	 	103	 
	SECTION 8.4. Repayment to the Company
	 	 	103	 
	SECTION 8.5. Indemnity for U.S. Government Obligations
	 	 	104	 
	SECTION 8.6. Reinstatement
	 	 	104	 
	 
	 	 	 	 
	ARTICLE IX
	 	 	 	 
	AMENDMENTS
	 	 	 	 
	 
	 	 	 	 
	SECTION 9.1. Without Consent of Holders
	 	 	104	 
	SECTION 9.2. With Consent of Holders
	 	 	106	 
	SECTION 9.3. Compliance with Trust Indenture Act
	 	 	107	 
	SECTION 9.4. Revocation and Effect of Consents and Waivers
	 	 	107	 
	SECTION 9.5. Notation on or Exchange of Securities
	 	 	108	 
	SECTION 9.6. Trustee to Sign Amendments
	 	 	108	 
	 
	 	 	 	 
	ARTICLE X
	 	 	 	 
	NOTE GUARANTEES
	 	 	 	 
	 
	 	 	 	 
	SECTION 10.1. Note Guarantees
	 	 	108	 
	SECTION 10.2. Limitation on Liability; Termination, Release and Discharge
	 	 	110	 
	SECTION 10.3. Right of Contribution
	 	 	111	 
	SECTION 10.4. No Subrogation
	 	 	111	 

-iii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE XI
	 	 	 	 
	COLLATERAL
	 	 	 	 
	 
	 	 	 	 
	SECTION 11.1. Collateral and Collateral Documents
	 	 	112	 
	SECTION 11.2. Release of Collateral
	 	 	113	 
	SECTION 11.3. Certificates of the Trustee
	 	 	114	 
	SECTION 11.4. Suits to Protect the Collateral
	 	 	114	 
	SECTION 11.5. Authorization of Receipt of Funds by the Trustee Under the
	 	 	115	 
	SECTION 11.6. Purchase Protected
	 	 	115	 
	SECTION 11.7. Powers Exercisable by Receiver or Trustee
	 	 	115	 
	SECTION 11.8. Release upon Termination of the Company’s Obligations
	 	 	115	 
	SECTION 11.9. Collateral Agent
	 	 	116	 
	SECTION 11.10. Designations
	 	 	120	 
	SECTION 11.11. Compensation and Indemnification
	 	 	120	 
	SECTION 11.12. Intercreditor Agreement and Collateral Documents
	 	 	120	 
	SECTION 11.13. Further Assurances
	 	 	121	 
	SECTION 11.14. Impairment of Security Interest
	 	 	121	 
	SECTION 11.15. Information Regarding Collateral
	 	 	121	 
	SECTION 11.16. Maintenance of Properties and Insurance
	 	 	122	 
	 
	 	 	 	 
	ARTICLE XII
	 	 	 	 
	MISCELLANEOUS
	 	 	 	 
	 
	 	 	 	 
	SECTION 12.1. Trust Indenture Act Controls
	 	 	122	 
	SECTION 12.2. Notices
	 	 	123	 
	SECTION 12.3. Communication by Holders with other Holders
	 	 	124	 
	SECTION 12.4. Certificate and Opinion as to Conditions Precedent
	 	 	124	 
	SECTION 12.5. Statements Required in Certificate or Opinion
	 	 	124	 
	SECTION 12.6. When Securities Disregarded
	 	 	125	 
	SECTION 12.7. Rules by Trustee, Paying Agent and Registrar
	 	 	125	 
	SECTION 12.8. Legal Holidays
	 	 	125	 
	SECTION 12.9. Governing Law
	 	 	125	 
	SECTION 12.10. No Recourse Against Others
	 	 	125	 
	SECTION 12.11. Successors
	 	 	126	 
	SECTION 12.12. Multiple Originals
	 	 	126	 
	SECTION 12.13. Qualification of Indenture
	 	 	126	 
	SECTION 12.14. Table of Contents; Headings
	 	 	126	 
	SECTION 12.15. [Reserved]
	 	 	126	 
	SECTION 12.16. Force Majeure
	 	 	126	 
	SECTION 12.17. Waiver of Jury Trial
	 	 	126	 
	SECTION 12.18. Severability
	 	 	126	 

-iv-

 

	 	 	 	 	 
	 	 	 	 
	SCHEDULE 3.8 Existing Affiliate Transactions
	 	 	 	 
	SCHEDULE
11.5 Premises and Leased Premises
	 	 	 	 
	 
	 	 	 	 
	EXHIBIT A            Form of the Series A Note
	 	 	 	 
	EXHIBIT B            Form of the Series B Note
	 	 	 	 
	EXHIBIT C            Form of Indenture Supplement to Add Subsidiary Guarantors
	 	 	 	 

-v-

 

CROSS-REFERENCE TABLE

	 	 	 
	TIA	 	Indenture
	Section	 	Section
	310 (a)(1)
	 	7.10
	  (a)(2)
	 	7.10
	  (a)(3)
	 	N.A.
	  (a)(4)
	 	N.A.
	  (a)(5)
	 	7.10
	  (b)
	 	7.3; 7.8; 7.10
	  (c)
	 	N.A.
	311 (a)
	 	7.11
	  (b)
	 	7.11
	  (c)
	 	N.A.
	312 (a)
	 	2.5
	  (b)
	 	12.3
	  (c)
	 	12.3
	313 (a)
	 	7.6
	  (b)(1)
	 	7.6
	  (b)(2)
	 	7.6
	  (c)
	 	7.6
	  (d)
	 	7.6
	314 (a)
	 	3.12; 3.18; 12.5
	  (b)
	 	N.A.
	  (c)(1)
	 	8.1; 11.7; 12.4
	  (c)(2)
	 	8.1; 11.7; 12.4
	  (c)(3)
	 	N.A.
	  (d)
	 	12.5
	  (e)
	 	12
	315 (a)
	 	7.1
	  (b)
	 	7.5
	  (c)
	 	7.1
	  (d)
	 	7.1
	  (e)
	 	6.11
	316 (a)(last
sentence)
	 	12.6
	  (a)(1)(A)
	 	6.5
	  (a)(1)(B)
	 	6.4
	  (a)(2)
	 	N.A.
	  (b)
	 	6.7
	  (c)
	 	9.4
	317 (a)(1)
	 	6.8
	  (a)(2)
	 	6.9
	  (b)
	 	2.4
	318 (a)
	 	12.1

N.A. means Not Applicable.

	Note:	 	 This Cross-Reference Table shall not, for any purpose, be deemed to be part of this
Indenture.

-vi-

 

          INDENTURE, dated as of February 8, 2010, among LIBBEY GLASS INC., a Delaware corporation
(the “Company” or “Libbey Glass”), LIBBEY, INC. (“Parent”) and certain
subsidiaries of the Company (the “Subsidiary Guarantors” and together with Libbey Inc., the
“Note Guarantors”) from time to time parties hereto and THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., a national banking association, as Trustee (the “Trustee”).

          For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, each party hereto covenants and agrees as follows for the benefit of the other parties and
for the equal and ratable benefit of all Holders of (i) the Company’s 10% Senior Secured Notes due
2015 issued on the date hereof (the “Initial Securities”), (ii) if and when issued, an
unlimited principal amount of additional 10% Senior Secured Notes, Series A, due 2015 in a
non-registered offering or 10% Senior Secured Notes, Series B, due 2015 in a registered offering of
the Company, which may be offered from time to time subsequent to the Issue Date (the
“Additional Securities”), and (iii) if and when issued, the Company’s 10% Senior Secured
Notes, Series B, due 2015 that may be issued from time to time in exchange for Initial Securities
or any Additional Securities in an offer registered under the Securities Act as provided in a
Registration Rights Agreement (as hereinafter defined) (the “Exchange Securities”; together
with the Initial Securities and Additional Securities, the “Securities”).

ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

          SECTION
1.1. Definitions.

          “Acquired Indebtedness” means Indebtedness (i) of a Person or any of its Subsidiaries
existing at the time such Person is merged with or into or becomes a Restricted Subsidiary of the
Company or (ii) assumed in connection with the acquisition of assets from such Person, in each case
whether or not Incurred by such Person in connection with, or in anticipation or contemplation of,
such Person merging into, or becoming a Restricted Subsidiary of the Company or such acquisition.
Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause (i) of the
preceding sentence, on the date such Person becomes a Restricted Subsidiary and, with respect to
clause (ii) of the preceding sentence, on the date of consummation of such acquisition of assets.

          “Added Historical Amount” means the special charges in the amounts and for periods set
forth in and described in “Management’s Discussion and Analysis of Financial Condition and Results
of Operations—Overview—Special Charges” in the Offering Memorandum, but only to the extent such
special charges occurred in the consecutive four-quarter reference period referred to in the
definition of Consolidated Coverage Ratio.

          “Additional Assets” means:

     (1) any property, plant or equipment or other asset (excluding working capital for the
avoidance of doubt) to be used by the Company or a Restricted Subsidiary in a Related
Business;

 

 

     (2) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of
the acquisition of such Capital Stock by the Company or a Restricted Subsidiary; or

     (3) Capital Stock constituting a minority interest in any Person that at such time is a
Restricted Subsidiary;

provided, however, that, in the case of clauses (2) and (3), such Restricted Subsidiary is
primarily engaged in a Related Business.

          “Additional Securities” has the meaning ascribed to it in the second introductory
paragraph of this Indenture.

          “Affiliate” of any specified Person means any other Person, directly or indirectly,
controlling or controlled by or under direct or indirect common control with such specified Person.
For the purposes of this definition, “control” when used with respect to any Person means
the possession, directly or indirectly, of the power to direct the management and policies of such
Person, directly or indirectly, whether through the ownership of voting securities, by contract or
otherwise; provided that exclusively for purposes of Section 3.8, beneficial ownership of
10% or more of the Voting Stock of a Person shall be deemed to be control. For purpose of this
definition, terms “controlling” and “controlled” have meanings correlative to the
foregoing.

          “Asset Disposition” means any direct or indirect sale, lease (other than an operating
lease entered into in the ordinary course of business), transfer, issuance or other disposition, or
a series of related sales, leases, transfers, issuances or dispositions that are part of a common
plan, of shares of Capital Stock of a Subsidiary (other than directors’ qualifying shares),
property or other assets (each referred to for the purposes of this definition as a
“disposition”) by the Company or any of its Restricted Subsidiaries, including any
disposition by means of a merger, consolidation or similar transaction.

          Notwithstanding the preceding, the following items shall not be deemed to be Asset
Dispositions:

     (1) a disposition of assets by a Restricted Subsidiary to the Company or by the Company
or a Restricted Subsidiary to a Restricted Subsidiary;

     (2) the sale of Cash Equivalents in the ordinary course of business;

     (3) a disposition of inventory or products or a sale of services in the ordinary course
of business;

     (4) a disposition of obsolete or worn out equipment or equipment that is no longer
useful in the conduct of the business of the Company and its Restricted Subsidiaries and
that is disposed of in each case in the ordinary course of business;

     (5) transactions permitted under Section 4.1;

-2-

 

     (6) an issuance of Capital Stock by a Restricted Subsidiary to the Company or by a
Restricted Subsidiary to a Restricted Subsidiary (other than a Receivables Entity);

     (7) for purposes of Section 3.5 only, the making of a Permitted Investment
(other than a Permitted Investment to the extent such transaction results in the receipt of
cash or Cash Equivalents by the Company or its Restricted Subsidiaries) or a disposition
subject to Section 3.3;

     (8) sales of accounts receivable and related assets or an interest therein;

     (9) dispositions of assets or issuance or sale of Capital Stock of any Restricted
Subsidiary in any transaction or series of related transactions with an aggregate fair
market value of less than $2.5 million (with unused amounts in any calendar year being
carried over to the next succeeding calendar year subject to a maximum of $5 million in such
next succeeding calendar year);

     (10) the creation of a Permitted Lien and dispositions in connection with Permitted
Liens;

     (11) dispositions of receivables in connection with the compromise, settlement or
collection thereof in the ordinary course of business or in bankruptcy or similar
proceedings and exclusive of factoring or similar arrangements;

     (12) the issuance by a Restricted Subsidiary of Preferred Stock that is permitted by
Section 3.2;

     (13) the licensing or sublicensing of intellectual property or other general
intangibles and licenses, leases, subleases or assignments of other property in the ordinary
course of business;

     (14) any sale of Capital Stock, Indebtedness or other securities of an Unrestricted
Subsidiary (with the exception of Investments in Unrestricted Subsidiaries acquired pursuant
to clause (11) or (13) of the definition of “Permitted Investments” or clause (14) of the
second paragraph of Section 3.3);

     (15) the sale of any property built or acquired by the Company or any Restricted
Subsidiary after the Issue Date in a Sale/Leaseback Transaction within three months of the
construction or acquisition of such property;

     (16) foreclosure, condemnation or similar action on assets; and

     (17) the sale, transfer or assignment of assets of a Foreign Subsidiary (including
Capital Stock) to a joint venture; provided that the aggregate fair market value of such
assets shall not exceed $75.0 million;

provided that for purposes of this definition of “Asset Disposition” the fair market value of
property or assets shall be determined by the Board of Directors of the Company in good faith, if
less

-3-

 

than $25.0 million and if greater than or equal to $25.0 million, such determination shall be made
by an Independent Financial Advisor.

          “Attributable Indebtedness” in respect of a Sale/Leaseback Transaction means, as at
the time of determination, the present value (discounted at the interest rate implicit in the
transaction) of the total obligations of the lessee for net rental payments during the remaining
term of the lease included in such Sale/Leaseback Transaction (including any period for which such
lease has been extended), determined in accordance with GAAP; provided, however, that if such
Sale/Leaseback Transaction results in a Capitalized Lease Obligation, the amount of Indebtedness
represented thereby will be determined in accordance with the definition of “Capitalized Lease
Obligations.”

          “Average Life” means, as of the date of determination, with respect to any
Indebtedness or Preferred Stock, the quotient obtained by dividing (1) the sum of the products of
the numbers of years from the date of determination to the date or dates of each successive
scheduled principal payment of such Indebtedness or redemption or similar payment with respect to
such Preferred Stock multiplied by the amount of each such payment by (2) the sum of all such
payments.

          “Bankruptcy Law” means Title 11 of the United States Code or any similar federal or
state law for the relief of debtors.

          “Board of Directors” means, as to any Person, the board of directors or managers, as
applicable, of such Person or any duly authorized committee thereof.

          “Board Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of a Person to have been duly adopted by the Board of Directors of such Person
and to be in full force and effect on the date of such certification, and delivered to the Trustee.

          “Borrowing Base” means, as of the date of determination, an amount equal to the sum,
without duplication of (1) 85% of the net book value of the Company’s and its Restricted
Subsidiaries’ accounts receivable at such date and (2) 65% of the net book value of the Company’s
and its Restricted Subsidiaries’ inventory at such date. Net book value shall be determined in
accordance with GAAP and shall be calculated using amounts reflected on the most recent available
balance sheet (it being understood that the accounts receivable and inventories of an acquired
business may be included if such acquisition has been completed on or prior to the date of
determination).

          “Business Day” means each day that is not a Saturday, Sunday or other day on which
banking institutions in New York, New York, Chicago, Illinois or a place of payment under this
Indenture are authorized or required by law to close.

          “Capital Stock” of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in (however designated)
equity of such Person, including any Preferred Stock and limited liability or partnership

-4-

 

interests (whether general or limited), but excluding any debt securities convertible into
such equity.

          “Capitalized Lease Obligations” means an obligation that is required to be classified
and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP,
and the amount of Indebtedness represented by such obligation will be the capitalized amount of
such obligation at the time any determination thereof is to be made as determined in accordance
with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any
other amount due under such lease prior to the first date such lease may be terminated without
penalty.

          “Cash Equivalents” means:

     (1) U.S. dollars, or in the case of the Company or any Foreign Subsidiary, such local
currencies held by it from time to time in the ordinary course of business;

     (2) securities issued or directly and fully guaranteed or insured by the U.S.
Government or any agency or instrumentality of the United States (provided that the full
faith and credit of the U.S. Government is pledged in support thereof), having maturities of
not more than one year from the date of acquisition;

     (3) marketable general obligations issued by any state of the United States of America
or any political subdivision of any such state or any public instrumentality thereof
maturing within one year from the date of acquisition of the United States (provided that
the full faith and credit of the United States is pledged in support thereof) and, at the
time of acquisition, having a credit rating of “A” or better from either Standard & Poor’s
Ratings Services or Moody’s Investors Service, Inc.;

     (4) certificates of deposit, time deposits, eurodollar time deposits, overnight bank
deposits or bankers’ acceptances having maturities of not more than one year from the date
of acquisition thereof issued by any commercial bank having combined capital and surplus in
excess of $500.0 million;

     (5) repurchase obligations with a term of not more than thirty days for underlying
securities of the types described in clauses (2), (3) and (4), entered into with any bank
meeting the qualifications specified in clause (4) above;

     (6) commercial paper rated at the time of acquisition thereof at least “A-2” or the
equivalent thereof by Standard & Poor’s Ratings Services or “P-2” or the equivalent thereof
by Moody’s Investors Service, Inc., or carrying an equivalent rating by a nationally
recognized rating agency, if both of the two named rating agencies cease publishing ratings
of investments, and in any case maturing within one year after the date of acquisition
thereof; and

     (7) interests in any investment company or money market fund that invests 95% or more
of its assets in instruments of the type specified in clauses (1) through (6) above.

-5-

 

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

     (1) the consummation of any transaction (including, without limitation, any merger or
consolidation), the result of which is that any “person” or “group” of related persons (as
such terms are used in Sections 13(d) and 14(d) of the Exchange Act) becomes the beneficial
owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person
or group shall be deemed to have “beneficial ownership” of all shares that any such person
or group has the right to acquire, whether such right is exercisable immediately or only
after the passage of time), directly or indirectly, of more than 50% of the total voting
power of the Voting Stock of the Company or the Parent (or its successor by merger,
consolidation or purchase of all or substantially all of its assets) (for the purposes of
this clause, such person or group shall be deemed to beneficially own any Voting Stock of
the Company or the Parent held by a parent entity, if such person or group “beneficially
owns” (as defined above), directly or indirectly, more than 50% of the voting power of the
Voting Stock of such parent entity); or

     (2) the sale, lease, transfer, conveyance or other disposition (other than by way of
merger or consolidation), in one or a series of related transactions, of all or
substantially all of the assets of the Parent or the Company and its Restricted Subsidiaries
taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of the
Exchange Act) other than the Parent, the Company or any of its Restricted Subsidiaries; or

     (3) the adoption by the stockholders of the Company or the Parent of a plan or proposal
for the liquidation or dissolution of the Company or the Parent.

          “Code” means the United States Internal Revenue Code of 1986, as amended.

          “Collateral” means all property and tangible and intangible assets, whether now owned
or hereafter acquired, in which Liens are, from time to time, granted to secure the Securities and
the Note Guarantees pursuant to the Collateral Documents. The “Collateral” as of the Issue Date
shall not include any owned real property that is held for sale at the Issue Date.

          “Collateral Agent” means The Bank of New York Mellon Trust Company, N.A., acting as
the collateral agent for the holders of the Securities, the Trustee and any holders of Pari Passu
Secured Indebtedness (including any agent therefor) under the Collateral Documents.

          “Collateral Documents” means the Mortgages, security agreements, pledge agreements,
agency agreements and other instruments and documents executed and delivered pursuant to this
Indenture or any of the foregoing, as the same may be amended, supplemented or otherwise modified
from time to time and pursuant to which Collateral is pledged, assigned or granted to or on behalf
of the Collateral Agent for the ratable benefit of the holders of the Securities and the Trustee
and the holders of any Pari Passu Secured Indebtedness or notice of such pledge, assignment or
grant is given.

          “Commodity Agreement” means any commodity futures contract, commodity option or other
similar agreement or arrangement entered into by the Company or any Restricted

-6-

 

Subsidiary designed to protect the Company or any of its Restricted Subsidiaries against
fluctuations in the price of commodities actually used in the ordinary course of business of the
Company and its Restricted Subsidiaries.

          “Common Stock” means with respect to any Person, any and all shares, interests or
other participations in, and other equivalents (however designated and whether voting or nonvoting)
of such Person’s common stock whether or not outstanding on the Issue Date, and includes, without
limitation, all series and classes of such common stock.

          “Company” means Libbey Glass Inc., or its successors and assigns.

          “Consolidated Coverage Ratio” means as of any date of determination, with respect to
any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the
period of the most recent four consecutive fiscal quarters ending prior to the date of such
determination for which financial statements are in existence to (y) Consolidated Interest Expense
for such four fiscal quarters, provided, however, that:

          (1) if the Company or any Restricted Subsidiary:

     (a) has Incurred any Indebtedness since the beginning of such period that
remains outstanding on such date of determination or if the transaction giving rise
to the need to calculate the Consolidated Coverage Ratio is an Incurrence of
Indebtedness, Consolidated EBITDA and Consolidated Interest Expense for such period
will be calculated after giving effect on a pro forma basis to such Indebtedness as
if such Indebtedness had been Incurred on the first day of such period (except that
in making such computation, the amount of Indebtedness under any revolving credit
facility outstanding on the date of such calculation will be deemed to be (i) the
average daily balance of such Indebtedness during such four fiscal quarters or such
shorter period for which such facility was outstanding or (ii) if such facility was
created after the end of such four fiscal quarters, the average daily balance of
such Indebtedness during the period from the date of creation of such facility to
the date of such calculation) and the discharge of any other Indebtedness repaid,
repurchased, defeased or otherwise discharged with the proceeds of such new
Indebtedness as if such discharge had occurred on the first day of such period; or

     (b) has repaid, repurchased, defeased or otherwise discharged any Indebtedness
since the beginning of the period that is no longer outstanding on such date of
determination or if the transaction giving rise to the need to calculate the
Consolidated Coverage Ratio involves a discharge of Indebtedness (in each case other
than Indebtedness Incurred under any revolving credit facility unless such
Indebtedness has been permanently repaid and the related commitment terminated),
Consolidated EBITDA and Consolidated Interest Expense for such period will be
calculated after giving effect on a pro forma basis to such discharge of such
Indebtedness, including with the proceeds of such new Indebtedness, as if such
discharge had occurred on the first day of such period;

-7-

 

     (2) if since the beginning of such period the Company or any Restricted Subsidiary will
have made any Asset Disposition or disposed of any company, division, operating unit,
segment, business, group of related assets or line of business or if the transaction giving
rise to the need to calculate the Consolidated Coverage Ratio is such an Asset Disposition:

     (a) the Consolidated EBITDA for such period will be reduced by an amount equal
to the Consolidated EBITDA (if positive) directly attributable to the assets that
are the subject of such disposition for such period or increased by an amount equal
to the Consolidated EBITDA (if negative) directly attributable thereto for such
period; and

     (b) Consolidated Interest Expense for such period will be reduced by an amount
equal to the Consolidated Interest Expense directly attributable to any Indebtedness
of the Company or any Restricted Subsidiary repaid, repurchased, defeased or
otherwise discharged with respect to the Company and its continuing Restricted
Subsidiaries in connection with such disposition for such period (or, if the Capital
Stock of any Restricted Subsidiary is sold, the Consolidated Interest Expense for
such period directly attributable to the Indebtedness of such Restricted Subsidiary
to the extent the Company and its continuing Restricted Subsidiaries are no longer
liable for such Indebtedness after such sale);

     (3) if since the beginning of such period the Company or any Restricted Subsidiary (by
merger or otherwise) will have made an Investment in any Restricted Subsidiary (or any
Person that becomes a Restricted Subsidiary or is merged with or into the Company) or an
acquisition of assets, including any acquisition of assets occurring in connection with a
transaction causing a calculation to be made hereunder, which constitutes all or
substantially all of a company, division, operating unit, segment, business, group of
related assets or line of business, Consolidated EBITDA and Consolidated Interest Expense
for such period will be calculated after giving pro forma effect thereto (including the
Incurrence of any Indebtedness) as if such Investment or acquisition occurred on the first
day of such period;

     (4) if since the beginning of such period any Person (that subsequently became a
Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary
since the beginning of such period) will have Incurred any Indebtedness or discharged any
Indebtedness, made any disposition or any Investment or acquisition of assets that would
have required an adjustment pursuant to clause (1), (2) or (3) above if made by the Company
or a Restricted Subsidiary during such period, Consolidated EBITDA and Consolidated Interest
Expense for such period will be calculated after giving pro forma effect thereto as if such
transaction occurred on the first day of such period; and

     (5) any Person that is a Restricted Subsidiary on the date of determination will be
deemed to have been a Restricted Subsidiary at all times during such four-quarter period and
any Person that is not a Restricted Subsidiary on the date of determination will

-8-

 

be deemed not to have been a Restricted Subsidiary at any time during such four-quarter
period.

          For purposes of this definition, whenever pro forma effect is to be given to any calculation
under this definition, the pro forma calculations will be determined in good faith by a responsible
financial or accounting officer of the Company (including pro forma expense and cost reductions
calculated on a basis consistent with Regulation S-X under the Securities Act). If any
Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest
expense on such Indebtedness will be calculated as if the rate in effect on the date of
determination had been the applicable rate for the entire period (taking into account any Interest
Rate Agreement applicable to such Indebtedness if such Interest Rate Agreement has a remaining term
in excess of 12 months). If any Indebtedness that is being given pro forma effect bears an
interest rate at the option of the Company, the interest rate shall be calculated by applying such
optional rate chosen by the Company.

          “Consolidated EBITDA” for any period means, without duplication, the Consolidated Net
Income for such period, plus the following to the extent deducted in calculating such Consolidated
Net Income:

     (1) Consolidated Interest Expense; plus

     (2) Consolidated Income Taxes; plus

     (3) consolidated depreciation expense; plus

     (4) impairment charges, asset write-offs or acquisition costs recorded in accordance
with GAAP; plus

     (5) any expenses or charges related to any Equity Offering, Permitted Investment,
acquisition, recapitalization or Indebtedness permitted to be incurred under this Indenture
(in each case whether or not consummated), deducted in such period in computing Consolidated
Net Income; plus or minus

     (6) any fees, expenses or charges Incurred in connection with the Transactions; plus

     (7) the amount of any restructuring charges or reserves (including retention,
severance, systems establishment cost, pension settlement or curtailment charges, contract
termination costs, future lease commitments, and costs to consolidate facilities and
relocate employees) deducted in such period in computing Consolidated Net Income; plus

     (8) any net after-tax income or loss from discontinued operations and any net after-tax
gains or losses on disposal of discontinued operations; plus

     (9) Receivables Fees to the extent deducted in calculating Consolidated Net Income for
such period; plus

-9-

 

     (10) any extraordinary expenses and charges Incurred by the Company or any of its
Restricted Subsidiaries; plus

     (11) net after-tax gains or losses (less all fees and expenses or charges relating
thereto) attributable to the early extinguishment of Indebtedness; plus or minus

     (12) unrealized gains or losses relating to hedging transactions and mark-to-market
Indebtedness denominated in foreign currencies resulting from the application of GAAP; plus

     (13) non-cash compensation charges, including any such non-cash charges arising from
stock options, restricted stock grants or other equity incentive programs; plus

     (14) the Added Historical Amount; plus

     (15) other non-cash charges reducing Consolidated Net Income (excluding any such
non-cash charge to the extent it represents an accrual of or reserve for cash charges in any
future period or amortization of a prepaid cash expense that was paid in a prior period not
included in the calculation); less

     (16) non-cash items increasing Consolidated Net Income of such Person for such period
(excluding any items which represent the reversal of any accrual of, or reserve for,
anticipated cash charges made in any prior period and excluding the accrual of revenue in
the ordinary course of business).

          Notwithstanding the preceding sentence, clauses (2) through (11) relating to amounts of a
Restricted Subsidiary of a Person will be added to Consolidated Net Income to compute Consolidated
EBITDA of such Person only to the extent (and in the same proportion) that the net income (loss) of
such Restricted Subsidiary was included in calculating the Consolidated Net Income of such Person
and, to the extent the amounts set forth in clauses (2) through (11) are in excess of those
necessary to offset a net loss of such Restricted Subsidiary or if such Restricted Subsidiary has
net income for such period included in Consolidated Net Income, only if a corresponding amount
would be permitted at the date of determination to be dividended to the Company by such Restricted
Subsidiary without prior approval (that has not been obtained), pursuant to the terms of its
charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and
governmental regulations applicable to that Restricted Subsidiary or its stockholders.

          “Consolidated Income Taxes” means, with respect to any Person for any period, taxes
imposed upon such Person or other payments required to be made by such Person by any governmental
authority which taxes or other payments are calculated by reference to the income or profits of
such Person or such Person and its Restricted Subsidiaries (to the extent such income or profits
were included in computing Consolidated Net Income for such period), regardless of whether such
taxes or payments are required to be remitted to any governmental authority.

-10-

 

          “Consolidated Interest Expense” means, for any period, the total interest expense of
the Company and its consolidated Restricted Subsidiaries, whether paid or accrued, plus, to the
extent not included in such interest expense:

     (1) interest expense attributable to Capitalized Lease Obligations and the interest
portion of rent expense associated with Attributable Indebtedness in respect of the relevant
lease giving rise thereto, determined as if such lease were a capitalized lease in
accordance with GAAP and the interest component of any deferred payment obligations;

     (2) amortization of debt discount, debt issuance cost or deferred financing costs
(provided that any amortization of bond premium will be credited to reduce Consolidated
Interest Expense unless, pursuant to GAAP, such amortization of bond premium has otherwise
reduced Consolidated Interest Expense);

     (3) non-cash interest expense;

     (4) commissions, discounts and other fees and charges owed with respect to letters of
credit and bankers’ acceptance financing;

     (5) the interest expense on Indebtedness of another Person that is Guaranteed by such
Person or one of its Restricted Subsidiaries or secured by a Lien on assets of such Person
or one of its Restricted Subsidiaries;

     (6) costs associated with Hedging Obligations (including amortization of fees)
provided, however, that if Hedging Obligations result in net benefits rather than costs,
such benefits shall be credited to reduce Consolidated Interest Expense unless, pursuant to
GAAP, such net benefits are otherwise reflected in Consolidated Net Income;

     (7) the consolidated interest expense of such Person and its Restricted Subsidiaries
that was capitalized during such period; and

     (8) the product of (a) all dividends paid or payable, in cash, Cash Equivalents or
Indebtedness or accrued during such period on any series of Disqualified Stock of such
Person or on Preferred Stock of its Restricted Subsidiaries that are not Subsidiary
Guarantors payable to a party other than the Company or a Restricted Subsidiary, times (b) a
fraction, the numerator of which is one and the denominator of which is one minus the then
current combined federal, state, provincial and local statutory tax rate of such Person,
expressed as a decimal, in each case, on a consolidated basis and in accordance with GAAP.

          For the purpose of calculating the Consolidated Coverage Ratio, the calculation of
Consolidated Interest Expense shall include all interest expense (including any amounts described
in clauses (1) through (8) above) relating to any Indebtedness of the Company or any Restricted
Subsidiary described in the final paragraph of the definition of “Indebtedness.”

          For purposes of the foregoing, total interest expense will be determined (i) after giving
effect to any net payments made or received by the Company and its Subsidiaries with

-11-

 

respect to Interest Rate Agreements and (ii) exclusive of amounts classified as other
comprehensive income in the balance sheet of the Company. Notwithstanding anything to the contrary
contained herein, commissions, discounts, yield and other fees and charges Incurred in connection
with any transaction pursuant to which the Company or its Restricted Subsidiaries may sell, convey
or otherwise transfer or grant a security interest in any accounts receivable or related assets
shall be included in Consolidated Interest Expense.

          “Consolidated Net Income” means, for any period, the net income (loss) of the Company
and its consolidated Restricted Subsidiaries determined in accordance with GAAP; provided, however,
that there will not be included in such Consolidated Net Income:

     (1) any net income (loss) of any Person if such Person is not a Restricted Subsidiary,
except that:

     (a) subject to the limitations contained in clauses (3), (4) and (5) below, the
Company’s equity in the net income of any such Person for such period will be
included in such Consolidated Net Income up to the aggregate amount of cash actually
distributed by such Person during such period to the Company or a Restricted
Subsidiary as a dividend or other distribution (subject, in the case of a dividend
or other distribution to a Restricted Subsidiary, to the limitations contained in
clause (2) below); and

     (b) the Company’s equity in a net loss of any such Person (other than an
Unrestricted Subsidiary) for such period will be included in determining such
Consolidated Net Income only to the extent such loss has been funded with cash from
the Company or a Restricted Subsidiary;

     (2) solely for the purpose of determining the amounts set forth in clause (4)(c) of
Section 3.3 any net income (but not loss) of any Restricted Subsidiary if such
Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends
or the making of distributions by such Restricted Subsidiary, directly or indirectly, to the
Company, except that:

     (a) subject to the limitations contained in clauses (3), (4) and (5) below and
subject, in the case of a dividend to another Restricted Subsidiary, to the
limitation contained in this clause (2), the Company’s equity in the net income of
any such Restricted Subsidiary for such period will be included in such Consolidated
Net Income up to the aggregate amount of cash (x) that could have been distributed
by such Restricted Subsidiary during such period to the Company or another
Restricted Subsidiary as a dividend, for purposes of the calculation of Consolidated
EBITDA and (y) that actually is paid in cash or converted into cash, for purposes of
calculating clause (c)(i) of Section 3.3; and

     (b) the Company’s equity in a net loss of any such Restricted Subsidiary for
such period will be included in determining such Consolidated Net Income;

-12-

 

     (3) any gain (loss) realized upon the sale or other disposition of any property, plant
or equipment of the Company or its consolidated Restricted Subsidiaries (including pursuant
to any Sale/Leaseback Transaction) that is not sold or otherwise disposed of in the ordinary
course of business and any gain (loss) realized upon the sale or other disposition of any
Capital Stock of any Person;

     (4) effects of adjustments in any line item in any Person’s consolidated financial
statements pursuant to GAAP resulting from the application of purchase accounting in
relation to any consummated acquisition;

     (5) after-tax effect of nonrecurring restructuring, closure, plant consolidation or
similar charges relating to property, plant and equipment acquired in future acquisitions
that are contemplated at the time of and incurred within 12 months of the closing of such
transaction;

     (6) any extraordinary gain or loss; and

     (7) the cumulative effect of a change in accounting principles.

          Any amounts distributed or otherwise transferred to Parent pursuant to clause (9) of the
second paragraph of Section 3.3, without duplication of any amounts otherwise deducted in
calculating Consolidated Net Income, the funds for which are provided by the Company and/or its
Restricted Subsidiaries, shall be deducted in calculating the Consolidated Net Income of the
Company and its Restricted Subsidiaries.

          “Credit Agreement Priority Collateral” has the meaning assigned to the term “ABL
Priority Collateral” in the Intercreditor Agreement.

          “Credit Facility” means, with respect to the Company or any Subsidiary Guarantor or
any Restricted Subsidiary that is a Foreign Subsidiary, one or more debt facilities (including,
without limitation, the Senior Secured Credit Agreement) or commercial paper facilities with banks
or other institutional lenders providing for revolving credit loans, term loans, receivables
financing (including through the sale of receivables to such lenders or to special purpose entities
formed to borrow from such lenders against such receivables) or letters of credit, in each case, as
amended, restated, modified, renewed, refunded, replaced (whether upon or after termination or
otherwise) or refinanced (including by means of sales of debt securities to institutional
investors) in whole or in part from time to time (and whether or not with the original
administrative agent and lenders or another administrative agent or agents or other lenders and
whether provided under the original Senior Secured Credit Agreement or any other credit or other
agreement or indenture).

          “Currency Agreement” means in respect of a Person any foreign exchange contract,
currency swap agreement, futures contract, option contract or other similar agreement as to which
such Person is a party or a beneficiary.

          “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar
official under any Bankruptcy Law.

-13-

 

          “Default” means any event that is, or after notice or the passage of time or both
would be, an Event of Default.

          “Definitive Securities” means certificated Securities.

          “Designated Non-cash Consideration” means the fair market value of non-cash
consideration received by the Company or a Restricted Subsidiary in connection with an Asset
Disposition that is so designated as Designated Non-cash Consideration pursuant to an Officers’
Certificate setting forth the basis of such valuation, executed by the principal financial officer
of the Company, less the amount of cash or Cash Equivalents received in connection with a
subsequent sale of or collection on such Designated Non-cash Consideration.

          “Discharge of Credit Agreement Obligations” means the date on which the Lenders Debt
has been paid in full, in cash, all commitments to extend credit thereunder shall have been
terminated and the Lenders Debt is no longer secured by the Credit Agreement Priority Collateral;
provided that the Discharge of Credit Agreement Obligations shall not be deemed to have occurred in
connection with a refinancing of such Lenders Debt with Indebtedness secured by such Credit
Agreement Priority Collateral on a first-priority basis under an agreement that has been designated
as a Credit Facility in writing by the administrative agent under the Credit Facility so
refinancing the Senior Secured Credit Agreement in accordance with the terms of the Intercreditor
Agreement.

          “Disqualified Stock” means, with respect to any Person, any Capital Stock of such
Person that by its terms (or by the terms of any security into which it is convertible or for which
it is exchangeable) or upon the happening of any event:

     (1) matures or is mandatorily redeemable pursuant to a sinking fund obligation or
otherwise;

     (2) is convertible or exchangeable for Indebtedness or Disqualified Stock (excluding
Capital Stock that is convertible or exchangeable solely at the option of the Company or a
Restricted Subsidiary); or

     (3) is redeemable at the option of the holder of the Capital Stock in whole or in part,

in each case on or prior to the date that is 91 days after the earlier of the date (a) of the
Stated Maturity of the Securities or (b) on which there are no Securities outstanding, provided
that only the portion of Capital Stock that so matures or is mandatorily redeemable, is so
convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such
date will be deemed to be Disqualified Stock; provided further that any Capital Stock that would
constitute Disqualified Stock solely because the holders thereof have the right to require the
Company to repurchase such Capital Stock upon the occurrence of a change of control or asset sale
(each defined in a substantially similar manner to the corresponding definitions in this Indenture)
shall not constitute Disqualified Stock if the terms of such Capital Stock (and all such securities
into which it is convertible or for which it is ratable or exchangeable) provide that the Company
may not repurchase or redeem any such Capital Stock (and all such
securities into which it is convertible

-14-

 

or for which it is ratable or exchangeable) pursuant to such provision prior to compliance
by the Company with Section 3.5 and Section 3.11 of this Indenture and such
repurchase or redemption complies with Section 3.3.

          “DTC” means The Depository Trust Company, its nominees and their respective successors
and assigns, or such other depository institution hereinafter appointed by the Company.

          “Environmental Law” means the Comprehensive Environmental Response, Compensation and
Liability Act, as amended (“CERCLA”), the Resource Conservation and Recovery Act of 1976, as
amended, and any other applicable federal, state, local, or foreign statute, rule, regulation,
order, judgment, directive, decree, permit, license or common law as in effect now, previously, or
at any time during the term of this Indenture, and regulating or imposing liability or standards of
conduct concerning air emissions, water discharges, noise emissions, the release or threatened
release or discharge ‘of any Hazardous Material into the environment, the use, manufacture,
production, refinement, generation, handling, treatment, storage, transport or disposal of any
Hazardous Material or otherwise concerning pollution or the protection of the outdoor or indoor
environment, or human health or safety in relation to exposure to Hazardous Materials.

          “Equity Offering” means a public offering for cash by the Company or the Parent, as
the case may be, of its Common Stock, or options, warrants or rights with respect to its Common
Stock, other than (x) public offerings with respect to the Company’s or the Parent’s, as the case
may be, Common Stock, or options, warrants or rights, registered on Form S-4 or S-8, (y) an
issuance to any Subsidiary or (z) any offering of Common Stock issued in connection with a
transaction that constitutes a Change of Control.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the SEC promulgated thereunder.

          “Exchange Offer” shall have the meaning set forth in the Registration Rights
Agreement.

          “Exchange Securities” has the meaning ascribed to it in the second introductory
paragraph of this Indenture.

          “Foreign Assets” means the aggregate assets held by, or related to, the Foreign
Subsidiaries of the Company determined in accordance with GAAP as disclosed in the financial
statements or in the footnotes to the financial statements of the Company most recently made
available in accordance with this Indenture.

          “Foreign Subsidiary” means any Restricted Subsidiary that is not organized under the
laws of the United States of America or any state thereof or the District of Columbia and any
Subsidiary of such Restricted Subsidiary.

          “GAAP” means generally accepted accounting principles in the United States of America
as in effect from time to time, including those set forth in the
opinions and pronouncements

-15-

 

of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as approved by a significant segment of the accounting
profession. All ratios and computations based on GAAP contained in this Indenture will be computed
in conformity with GAAP, except that in the event the Company is acquired in a transaction in which
purchase accounting is applied to the Company’s financial statements, the effects of the
application of purchase accounting in such instance shall be disregarded in the calculation of such
ratios and other computations.

          “Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or
indirect, contingent or otherwise, of such Person:

     (1) to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or
by agreement to keep-well, to purchase assets, goods, securities or services, to
take-or-pay, or to maintain financial statement conditions or otherwise); or

     (2) entered into for purposes of assuring in any other manner the obligee of such
Indebtedness of the payment thereof or to protect such obligee against loss in respect
thereof (in whole or in part); provided, however, that the term “Guarantee” will not include
endorsements for collection or deposit in the ordinary course of business. The term
“Guarantee” used as a verb has a corresponding meaning.

          “Guarantor Pari Passu Indebtedness” means Indebtedness of a Subsidiary Guarantor that
ranks equally in right of payment to its Subsidiary Guarantee.

          “Guarantor Subordinated Obligation” means, with respect to a Subsidiary Guarantor, any
Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter
Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary
Guarantor under its Subsidiary Guarantee, including the Guarantees of the Private Placement Notes,
pursuant to a written agreement, without giving effect to collateral arrangements.

          “Hazardous Materials” means any pollutant, contaminant or hazardous, toxic, medical,
biohazardous, or dangerous waste, substance, constituent or material regulated as such pursuant to
any applicable Environmental Law, including, without limitation, any asbestos, any petroleum, oil
(including crude oil or any fraction thereof), any radioactive substance, any polychlorinated
biphenyls, any toxin, chemical, disease-causing agent or pathogen, and any other substance that
gives rise to liability under any applicable Environmental Law.

          “Hedging Obligations” of any Person means the obligations of such Person pursuant to
any Interest Rate Agreement, Currency Agreement or Commodity Agreement.

          “Holder” means a Person in whose name a Security is registered on the Registrar’s
books.

-16-

 

          “IAI” means an institutional “accredited investor” as described in Rule 501(a)(1),
(2), (3) or (7) under the Securities Act.

          “Incur” means issue, create, assume, Guarantee, incur or otherwise become liable for;
provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such
person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise)
will be deemed to be Incurred by such Person at the time it becomes a Restricted Subsidiary; and
the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing.

          “Indebtedness” means, with respect to any Person on any date of determination (without
duplication):

     (1) the principal of and premium (if any) in respect of indebtedness of such Person for
borrowed money;

     (2) the principal of and premium (if any) in respect of obligations of such Person
evidenced by bonds, debentures, notes or other similar instruments;

     (3) the principal component of all obligations of such Person in respect of letters of
credit, bankers’ acceptances or other similar instruments (including reimbursement
obligations with respect thereto except to the extent such reimbursement obligation relates
to a trade payable or similar obligation to a trade creditor in each case incurred in the
ordinary course of business);

     (4) the principal component of all obligations of such Person to pay the deferred and
unpaid purchase price of property (except trade payables), which purchase price is due more
than six months after the date of placing such property in service or taking delivery and
title thereto;

     (5) Capitalized Lease Obligations and all Attributable Indebtedness of such Person;

     (6) the principal component or liquidation preference of all obligations of such Person
with respect to the redemption, repayment or other repurchase of any Disqualified Stock of
the Company or a Restricted Subsidiary or Preferred Stock of a Subsidiary that is not a
Subsidiary Guarantor (but excluding, in each case, any accrued dividends);

     (7) the principal component of all Indebtedness of other Persons secured by a Lien on
any asset of such Person, whether or not such Indebtedness is assumed by such Person;
provided, however, that the amount of such Indebtedness will be the lesser of (a) the fair
market value of such asset at such date of determination and (b) the amount of such
Indebtedness of such other Persons;

     (8) the principal component of Indebtedness of other Persons to the extent Guaranteed
by such Person;

-17-

 

     (9) to the extent not otherwise included in this definition, net obligations of such
Person under Hedging Obligations (the amount of any such obligations to be equal at any time
to the termination value of such agreement or arrangement giving rise to such obligation
that would be payable by such Person at such time); and

     (10) to the extent not otherwise included in this definition, the principal amount of
any Indebtedness outstanding in connection with a securitization transaction is the amount
of obligations outstanding under the legal documents entered into as part of such
securitization that would be characterized as principal on any date of determination if such
securitization transaction were structured as a secured lending transaction.

          The amount of Indebtedness of any Person at any date will be the outstanding balance at such
date of all unconditional obligations as described above and the maximum liability, upon the
occurrence of the contingency giving rise to the obligation, of any contingent obligations at such
date; provided that contingent obligations arising in the ordinary course of business and not with
respect of borrowed money shall be deemed not to constitute Indebtedness. Notwithstanding the
foregoing, money borrowed and set aside at the time of the Incurrence of any Indebtedness in order
to pre-fund the payment of interest on such Indebtedness shall not be deemed to be “Indebtedness”;
provided that such money is held to secure the payment of such interest.

          In addition, “Indebtedness” of any Person shall include Indebtedness described in the
preceding paragraph that would not appear as a liability on the balance sheet of such Person if:

     (1) such Indebtedness is the obligation of a partnership or joint venture that is not a
Restricted Subsidiary (a “Joint Venture”);

     (2) such Person or a Restricted Subsidiary of such Person is a general partner of the
Joint Venture (a “General Partner”); and

     (3) there is recourse, by contract or operation of law, with respect to the payment of
such Indebtedness to property or assets of such Person or a Restricted Subsidiary of such
Person; and then such Indebtedness shall be included in an amount not to exceed:

     (a) the lesser of (i) the net assets of the General Partner and (ii) the amount
of such obligations to the extent that there is recourse, by contract or operation
of law, to the property or assets of such Person or a Restricted Subsidiary of such
Person; or

     (b) if less than the amount determined pursuant to clause (a) immediately
above, the actual amount of such Indebtedness that is recourse to such Person or a
Restricted Subsidiary of such Person, if the Indebtedness is evidenced by a writing
and is for a determinable amount.

          “Indenture” means this Indenture as amended or supplemented from time to time.

-18-

 

          “Independent Financial Advisor” means an accounting, appraisal or investment banking
firm or consultant of nationally recognized standing that is, in the good faith judgment of the
Company, qualified to perform the task for which it has been engaged.

          “Initial Purchasers” means, together, Barclays Capital Inc., Banc of America
Securities LLC and CJS Securities Inc.

          “Initial Securities” has the meaning ascribed to it in the second introductory
paragraph of this Indenture.

          “Intercreditor Agreement” means the Intercreditor Agreement, dated as of the date
hereof, by and among J.P. Morgan Chase Bank, N.A., in its capacity as administrative agent under
the Senior Secured Credit Agreement, the holders of any Pari Passu Secured Indebtedness from time
to time (or any agent or representative on their behalf), the Trustee, the Collateral Agent, the
Company and the Note Guarantors.

          “Interest Rate Agreement” means with respect to any Person any interest rate
protection agreement, interest rate future agreement, interest rate option agreement, interest rate
swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge
agreement or other similar agreement or arrangement as to which such Person is party or a
beneficiary.

          “Investment” means, with respect to any Person, all investments by such Person in
other Persons (including Affiliates) in the form of any direct or indirect advance, loan (other
than advances or extensions of credit to customers in the ordinary course of business) or other
extensions of credit (including by way of Guarantee or similar arrangement, but excluding any debt
or extension of credit represented by a bank deposit other than a time deposit) or capital
contribution to (by means of any transfer of cash or other property to others or any payment for
property or services for the account or use of others), or any purchase or acquisition of Capital
Stock, Indebtedness or other similar instruments issued by, such Person and all other items that
are or would be classified as investments on a balance sheet prepared in accordance with GAAP;
provided that none of the following will be deemed to be an Investment:

     (1) Hedging Obligations entered into in the ordinary course of business and in
compliance with this Indenture;

     (2) endorsements of negotiable instruments and documents in the ordinary course of
business; and

     (3) an acquisition of assets, Capital Stock or other securities by the Company or a
Subsidiary for consideration to the extent such consideration consists of Common Stock of
the Company or the Parent.

     For purposes of Section 3.3,

     (1) “Investment” will include the portion (proportionate to the Company’s equity
interest in a Restricted Subsidiary to be designated as an Unrestricted Subsidiary) of

-19-

 

the fair market value of the net assets of such Restricted Subsidiary at the time that
such Restricted Subsidiary is designated an Unrestricted Subsidiary; provided, however, that
upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company will be
deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an
amount (if positive) equal to (a) the Company’s “Investment” in such Subsidiary at the time
of such redesignation less (b) the portion (proportionate to the Company’s equity interest
in such Subsidiary) of the fair market value of the net assets (as conclusively determined
by the Board of Directors of the Company in good faith) of such Subsidiary at the time that
such Subsidiary is so redesignated a Restricted Subsidiary;

     (2) any property transferred to or from an Unrestricted Subsidiary will be valued at
its fair market value at the time of such transfer, in each case as determined in good faith
by the Board of Directors of the Company; and

     (3) if the Company or any Restricted Subsidiary sells or otherwise disposes of any
Voting Stock of any Restricted Subsidiary such that, after giving effect to any such sale or
disposition, such entity is no longer a Subsidiary of the Company, the Company shall be
deemed to have made an Investment on the date of any such sale or disposition equal to the
fair market value (as conclusively determined by the Board of Directors of the Company in
good faith) of the Capital Stock of such Subsidiary not sold or disposed of.

          “Issue Date” means February 8, 2010.

          “Joint Venture” means any Person, other than an individual or a Subsidiary of the
Company, (i) in which the Company or a Restricted Subsidiary holds or acquires a security interest
(whether by way of Capital Stock or otherwise) and (ii) which is engaged in a Related Business.

          “Legal Holiday” has the meaning ascribed to it under Section 12.8.

          “Lenders Debt” means any (i) Indebtedness outstanding from time to time under the
Senior Secured Credit Agreement, (ii) any Indebtedness which has a first-priority security interest
in the Credit Agreement Priority Collateral (subject to Permitted Liens), and (iii) all cash
management Obligations and related banking services and Hedging Obligations incurred with any agent
or lender under the Senior Secured Credit Agreement (or their Affiliates).

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

          “Mortgages” means the mortgages, deeds of trust, deeds to secure Indebtedness or other
similar documents securing Liens on the Premises, as well as the other Collateral secured by and
described in the mortgages, deeds of trust, deeds to secure Indebtedness or other similar
documents.

-20-

 

          “Net Available Cash” from an Asset Disposition means cash payments received (including
any cash payments received by way of deferred payment of principal pursuant to a note or
installment receivable or otherwise and net proceeds from the sale or other disposition of any
securities received as consideration, but only as and when received, but excluding any other
consideration received in the form of assumption by the acquiring person of Indebtedness or other
obligations relating to the properties or assets that are the subject of such Asset Disposition or
received in any other non-cash form) therefrom, in each case net of:

     (1) all legal, accounting, investment banking, title and recording tax expenses,
commissions and other fees and expenses Incurred, and all Federal, state, provincial,
foreign and local taxes required to be paid or accrued as a liability under GAAP (after
taking into account any available tax credits or deductions and any tax sharing agreements),
as a consequence of such Asset Disposition;

     (2) all payments made on any Indebtedness that is secured by any assets subject to such
Asset Disposition, in accordance with the terms of any Lien upon or any other security
agreement of any kind with respect to such assets, or that must by its terms, or in order to
obtain a necessary consent to such Asset Disposition, or by applicable law be repaid out of
the proceeds from such Asset Disposition;

     (3) all distributions and other payments required to be made to minority interest
holders in Subsidiaries or joint ventures as a result of such Asset Disposition; and

     (4) the deduction of appropriate amounts to be provided by the seller as a reserve, in
accordance with GAAP, against any liabilities associated with the property or other assets
disposed of in such Asset Disposition and retained by the Company or any Restricted
Subsidiary after such Asset Disposition.

          “Net Cash Proceeds,” with respect to any issuance or sale of Capital Stock, means the
cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or
placement agents’ fees, listing fees, discounts or commissions and brokerage, consultant and other
fees and charges actually Incurred in connection with such issuance or sale and net of taxes paid
or payable as a result of such issuance or sale (after taking into account any available tax credit
or deductions and any tax sharing arrangements); provided that the cash proceeds of an Equity
Offering by Parent shall not be deemed Net Cash Proceeds, except to the extent such cash proceeds
are contributed to the Company.

          “Non-Conforming Plan of Reorganization” means any plan of reorganization that grants
any Noteholder Secured Party any right or benefit, directly or indirectly, which right or benefit
is prohibited at such time by the provisions of the Intercreditor Agreement.

          “Non-Guarantor Restricted Subsidiary” means any Restricted Subsidiary that is not a
Subsidiary Guarantor.

-21-

 

          “Non-Recourse Debt” means Indebtedness of a Person:

     (1) as to which neither the Company nor any Restricted Subsidiary (a) provides any
Guarantee or credit support of any kind (including any undertaking, guarantee, indemnity,
agreement or instrument that would constitute Indebtedness) or (b) is directly or indirectly
liable (as a guarantor or otherwise);

     (2) no default with respect to which (including any rights that the holders thereof may
have to take enforcement action against an Unrestricted Subsidiary) would permit (upon
notice, lapse of time or both) any holder of any other Indebtedness of the Company or any
Restricted Subsidiary to declare a default under such other Indebtedness or cause the
payment thereof to be accelerated or payable prior to its Stated Maturity; and

     (3) the explicit terms of which provide there is no recourse against any of the assets
of the Company or its Restricted Subsidiaries, except that Standard Securitization
Undertakings shall not be considered recourse.

          “Non-U.S. Person” means a Person who is not a U.S. Person (as defined in Regulation
S).

          “Note Guarantee” means, individually, any Guarantee of payment of the Securities and
Exchange Securities issued in a registered Exchange Offer pursuant to the Registration Rights
Agreement by a Note Guarantor pursuant to the terms of this Indenture and any supplemental
indenture thereto, and, collectively, all such Note Guarantees. Each such Note Guarantee will be
in the form prescribed by this Indenture.

          “Note Guarantor” has the meaning ascribed to it in the introductory paragraph of this
Indenture.

          “Notes Priority Collateral” has the meaning assigned to the term “Notes Priority
Collateral” in the Intercreditor Agreement.

          “Noteholder Secured Parties” means the Trustee, Collateral Agent, each Holder of the
Securities and each other Holder of, or obligee in respect of, any Obligations in respect of the
Securities outstanding at such time.

          “Obligations” means any principal, interest (including any interest accruing
subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the
rate provided for in the documentation with respect thereto, whether or not such interest is an
allowed claim under applicable state, federal or foreign law), penalties, fees, indemnifications,
reimbursements (including, without limitation, reimbursement obligations with respect to letters of
credit and bankers’ acceptances), damages and other liabilities, and guarantees of payment of such
principal, interest, penalties, fees, indemnifications, reimbursements, damages and other
liabilities, payable under the documentation governing any Indebtedness, Hedging Obligations or
cash management and related banking services.

-22-

 

          “Offering Memorandum” means the Offering Memorandum dated as of January 28, 2010
relating to the offering of the Securities.

          “Officer” means the Chairman of the Board, the Chief Executive Officer, the President,
the Chief Financial Officer, any Vice President, the Treasurer or the Secretary of the Company or,
if the Company is a partnership or a limited liability company that has no such officers, a person
duly authorized under applicable law by the general partner, managers, members or a similar body to
act on behalf of the Company. Officer of any Note Guarantor has a correlative meaning.

          “Officers’ Certificate” means a certificate signed by two Officers or by an Officer
and either an Assistant Treasurer or an Assistant Secretary of the Company.

          “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to
the Trustee. The counsel may be an employee of or counsel to the Company, a Guarantor or the
Trustee.

          “Parent” means Libbey Inc., a Delaware corporation, or any successor thereto.

          “Parent Common Stock” means the common stock, par value $ .01 per share of the Parent.

          “Pari Passu Indebtedness” means Indebtedness that ranks equally in right of payment to
the Securities (without giving effect to collateral arrangements).

          “Pari Passu Secured Indebtedness” means any Indebtedness of the Company or any Note
Guarantor that ranks pari passu in right of payment with the Securities or the relevant Note
Guarantee and is secured by a Lien on the Collateral that has the same priority as the Lien
securing the Securities and that is designated in writing as such by the Company to the Trustee and
the holders of which enter into an appropriate agency agreement with the Collateral Agent.

          “Permitted Asset Swap” means any transfer of property or assets by the Company or any
of its Restricted Subsidiaries in which at least 90% of the consideration received by the
transferor consists of properties or assets (other than cash and Investments) that will be used in
a Related Business; provided that the aggregate fair market value of the property or assets being
transferred by the Company or such Restricted Subsidiary is not greater than the aggregate fair
market value of the property or assets received by the Company or such Restricted Subsidiary in
such exchange (provided, however, that in the event such aggregate fair market value of the
property or assets being transferred or received by the Company is (x) less than $25.0 million,
such determination shall be made in good faith by the Board of Directors of the Company and (y)
greater than or equal to $25.0 million, such determination shall be made by an Independent
Financial Advisor).

-23-

 

          “Permitted Investment” means an Investment by the Company or any Restricted Subsidiary
in:

     (1) a Restricted Subsidiary or a Person that will, upon the making of such Investment,
become a Restricted Subsidiary; provided, however, that the primary business of such
Restricted Subsidiary (other than a Receivables Entity) is a Related Business;

     (2) another Person if as a result of such Investment such other Person is merged or
consolidated with or into, or transfers or conveys all or substantially all its assets to,
the Company or a Restricted Subsidiary (other than a Receivables Entity); provided, however,
that such Person’s primary business is a Related Business;

     (3) cash and Cash Equivalents;

     (4) receivables owing to the Company or any Restricted Subsidiary created or acquired
in the ordinary course of business and payable or dischargeable in accordance with customary
trade terms; provided, however, that such trade terms may include such concessionary trade
terms as the Company or any such Restricted Subsidiary deems reasonable under the
circumstances;

     (5) payroll, travel and similar advances to cover matters that are expected at the time
of such advances ultimately to be treated as expenses for accounting purposes and that are
made in the ordinary course of business;

     (6) loans or advances to employees of the Company and its Restricted Subsidiaries, (i)
the proceeds of which are used to purchase Capital Stock of the Company or the Parent (to
the extent such proceeds are actually received by the Company or the Parent), or (ii) made
in the ordinary course of business consistent with past practices of the Company or such
Restricted Subsidiary in an aggregate amount at any one time outstanding not to exceed $5.0
million (loans or advances that are forgiven shall continue to be deemed outstanding);

     (7) Capital Stock, obligations or securities received in settlement of debts created in
the ordinary course of business and owing to the Company or any Restricted Subsidiary or in
satisfaction of judgments or pursuant to any plan of reorganization or similar arrangement
upon the bankruptcy or insolvency of a debtor;

     (8) Investments made as a result of the receipt of non-cash consideration from an Asset
Disposition that was made pursuant to and in compliance with Section 3.5;

     (9) Investments in existence on the Issue Date and any modification, replacement,
renewal, or extension thereof; provided, however, that the amount of such Investment may be
increased (x) as required by the terms of such Investment as in existence on the Issue Date
or (y) as otherwise permitted under this Indenture;

-24-

 

     (10) Currency Agreements, Interest Rate Agreements, Commodity Agreements and related
Hedging Obligations, which transactions or obligations are Incurred in compliance with
Section 3.2;

     (11) Investments by the Company or any of its Restricted Subsidiaries, together with
all other Investments pursuant to this clause (11), in an aggregate amount at the time of
such Investment not to exceed the greater of (a) $20.0 million or (b) 2.5% of Total Assets
outstanding at any one time (with the fair market value of such Investment being measured at
the time made and without giving effect to subsequent changes in value);

     (12) Guarantees issued in accordance with Section 3.2;

     (13) Investments by the Company or a Restricted Subsidiary in a Receivables Entity or
any Investment by a Receivables Entity in any other Person, in each case, in connection with
a Receivables securitization transaction, provided, however, that any Investment in any such
Person is in the form of a purchase money note, or any equity interest or interests in
Receivables and related assets generated by the Company or a Restricted Subsidiary and
transferred to any Person in connection with a Receivables securitization transaction or any
such Person owning such Receivables;

     (14) Investments consisting of licensing of intellectual property pursuant to joint
marketing arrangements with other Persons;

     (15) Investments in Joint Ventures of the Company or any of its Restricted Subsidiaries
not to exceed $40.0 million at any time outstanding (with the fair market value of such
Investment being measured at the time made and without giving effect to subsequent changes
in value); provided, however, that the aggregate amount of all such Investments made by the
Company and its Restricted Subsidiaries (other than Foreign Subsidiaries) shall not exceed
$25.0 million at any time outstanding;

     (16) Investments the payment for which consists of Capital Stock of the Company or the
Parent (exclusive of Disqualified Stock);

     (17) guarantees (including Guarantees) of Indebtedness permitted under Section
3.2 and performance guarantees in the ordinary course of business;

     (18) Investments consisting of purchases and acquisitions of inventory, supplies,
materials and equipment or purchases of contract rights or licenses or leases of
intellectual property, in each case in the ordinary course of business; and

     (19) Investments resulting from the receipt of non-cash consideration in an Asset
Disposition received in compliance with Section 3.5;

provided that for purposes of this definition of “Permitted Investment” the fair market value of
any property or assets shall be determined by the Board of Directors of Company in good faith, if
less than $25.0 million and if greater than or equal to $25.0 million, such determination shall be
made by an Independent Financial Advisor.

-25-

 

          “Permitted Liens” means, with respect to any Person:

     (1) Liens securing Indebtedness and other obligations under the Senior Secured Credit
Agreement, Hedging Obligations owing to agents or lenders under the Senior Secured Credit
Agreement (or their Affiliates) and related banking services and cash management Obligations
owing to agents or lenders under the Senior Secured Credit Agreement (or their Affiliates)
and Liens on assets of Restricted Subsidiaries securing Guarantees of Indebtedness and other
Obligations of the Company and/or Libbey Europe B.V. under the Senior Secured Credit
Agreement permitted to be Incurred under this Indenture, provided that (i) in the case of
any such Liens granted by the Company or the Note Guarantors on any Notes Priority
Collateral, such Liens secure the notes and the Note Guarantees on at least a first-priority
basis and (ii) in the case of any such Liens granted by the Company or the Note Guarantors
on any Credit Agreement Priority Collateral, such Liens secure the notes and the Note
Guarantees on at least a second-priority basis (other than Foreign Assets or Capital Stock
which by the terms of the Collateral Documents is expressly permitted to be subject to a
Lien securing Lenders Debt without also being subject to a Lien securing the notes and the
Note Guarantees);

     (2) pledges or deposits by such Person under workers’ compensation laws, unemployment
insurance laws or similar legislation, or good faith deposits in connection with bids,
tenders, contracts (other than for the payment of Indebtedness) or leases to which such
Person is a party, or deposits to secure public or statutory obligations of such Person or
deposits of cash or U.S. government bonds to secure surety or appeal bonds to which such
Person is a party, or deposits as security for contested taxes or import or customs duties
or for the payment of rent, in each case Incurred in the ordinary course of business;

     (3) Liens imposed by law, including carriers’, warehousemen’s, mechanics’,
materialmen’s and repairmen’s Liens, Incurred in the ordinary course of business;

     (4) Liens for taxes, assessments or other governmental charges not yet subject to
penalties for non-payment or that are being contested in good faith by appropriate
proceedings provided appropriate reserves required pursuant to GAAP have been made in
respect thereof;

     (5) Liens in favor of issuers of surety or performance bonds or letters of credit or
bankers’ acceptances issued pursuant to the request of and for the account of such Person in
the ordinary course of its business;

     (6) survey exceptions, encumbrances, ground leases, easements or reservations of, or
rights of others for, licenses, rights of way, sewers, electric lines, telegraph and
telephone lines and other similar purposes, or zoning, building codes or other restrictions
(including, without limitation, minor defects or irregularities in title and similar
encumbrances) as to the use of real properties or liens incidental to the conduct of the
business of such Person or to the ownership of its properties that do not in the aggregate
materially adversely affect the value of said properties or materially impair their use in
the

-26-

 

operation of the business of such Person; provided that the Person complies with the
applicable provisions of the Collateral Documents relating to such Liens;

     (7) Liens securing Hedging Obligations so long as the related Indebtedness is, and is
permitted to be under this Indenture, secured by a Lien on the same property securing such
Hedging Obligation;

     (8) leases, licenses, subleases and sublicenses of assets (including, without
limitation, real property and intellectual property rights) that do not materially interfere
with the ordinary conduct of the business of the Company or any of its Restricted
Subsidiaries;

     (9) judgment Liens not giving rise to an Event of Default so long as such Lien is
adequately bonded and any appropriate legal proceedings that may have been duly initiated
for the review of such judgment have not been finally terminated or the period within which
such proceedings may be initiated has not expired;

     (10) Liens for the purpose of securing the payment of all or a part of the purchase
price of, or Capitalized Lease Obligations, purchase money obligations or other payments
Incurred to finance the acquisition, lease, improvement or construction of, assets or
property acquired or constructed in the ordinary course of business; provided that:

     (a) the Incurrence of the aggregate principal amount of Indebtedness secured by
such Liens is otherwise permitted to be Incurred under this Indenture and does not
exceed the cost of the assets or property so acquired or constructed; and

     (b) such Liens are created within 180 days of construction or acquisition of
such assets or property and do not encumber any other assets or property of the
Company or any Restricted Subsidiary other than such assets or property and assets
affixed or appurtenant thereto;

     (11) Liens arising solely by virtue of any statutory or common law provisions relating
to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts
or other funds maintained with a depositary institution;

     (12) Liens arising from Uniform Commercial Code financing statement filings regarding
operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary
course of business;

     (13) Liens existing on the Issue Date (other than Liens permitted under clause (1));

     (14) Liens on property or shares of stock of a Person at the time such Person is merged
into or consolidated with the Company or becomes a Restricted Subsidiary; provided, however,
that any such Lien may not extend to any other property owned by the Company or any
Restricted Subsidiary;

-27-

 

     (15) Liens on property at the time the Company or a Restricted Subsidiary acquired the
property, including any acquisition by means of a merger or consolidation with or into the
Company or any Restricted Subsidiary; provided, however, that such Liens may not extend to
any other property owned by the Company or any Restricted Subsidiary;

     (16) Liens in favor of the Company or any Restricted Subsidiary;

     (17) Liens securing the Securities and Subsidiary Guarantees;

     (18) Liens securing Refinancing Indebtedness Incurred to refinance, refund, replace,
amend, extend or modify, as a whole or in part, Indebtedness that was previously so secured;
provided that any such Lien is limited to all or part of the same property or assets (plus
improvements, accessions, proceeds or dividends or distributions in respect thereof) that
secured (or, under the written arrangements under which the original Lien arose, could
secure) the Indebtedness being refinanced or is in respect of property that is the security
for a Permitted Lien hereunder;

     (19) any interest or title of a lessor under any Capitalized Lease Obligation or
operating lease;

     (20) Liens under industrial revenue, municipal or similar bonds;

     (21) Liens securing Indebtedness (other than Subordinated Obligations and Guarantor
Subordinated Obligations) in an aggregate principal amount outstanding at any one time not
to exceed $25.0 million; and

     (22) Liens securing Indebtedness and other obligations of Foreign Subsidiaries that are
Incurred in accordance with Section 3.2; provided that any such Lien may not extend
to any property of the Company or any Restricted Subsidiary that is not a Foreign
Subsidiary.

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

          “Preferred Stock,” as applied to the Capital Stock of any corporation, means Capital
Stock of any class or classes (however designated) that is preferred as to the payment of
dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or
dissolution of such Person, over shares of Capital Stock of any other class of such Person.

          “QIB” means any “qualified institutional buyer” as such term is defined in Rule 144A.

          “Rating Agencies” means Standard & Poor’s Ratings Group, Inc. and Moody’s Investors
Service, Inc. or if Standard & Poor’s Ratings Group, Inc. or Moody’s Investors Service, Inc. or
both shall not make a rating on the Securities publicly available, a nationally

-28-

 

recognized statistical rating agency or agencies, as the case may be, selected by the Company (as
certified by a resolution of the Board of Directors) which shall be substituted for Standard &
Poor’s Ratings Group, Inc. or Moody’s Investors Service, Inc. or both, as the case may be.

          “Receivable” means a right to receive payment arising from a sale or lease of goods or
the performance of services by a Person pursuant to an arrangement with another Person pursuant to
which such other Person is obligated to pay for goods or services under terms that permit the
purchase of such goods and services on credit and shall include, in any event, any items of
property that would be classified as an “account,” “chattel paper,” “payment intangible” or
“instrument” under the Uniform Commercial Code as in effect in the State of New York and any
“supporting obligations” as so defined.

          “Receivables Entity” means a Wholly-Owned Subsidiary (or another Person in which the
Company or any Restricted Subsidiary makes an Investment and to which the Company or any Restricted
Subsidiary transfers Receivables and related assets) which engages in no activities other than in
connection with the financing of Receivables and which is designated by the Board of Directors of
the Company (as provided below) as a Receivables Entity:

     (1) no portion of the Indebtedness or any other obligations (contingent or otherwise)
of which:

     (a) is guaranteed by the Company or any Restricted Subsidiary (excluding
guarantees of obligations (other than the principal of, and interest on,
Indebtedness) pursuant to Standard Securitization Undertakings);

     (b) is recourse to or obligates the Company or any Restricted Subsidiary in any
way other than pursuant to Standard Securitization Undertakings; or

     (c) subjects any property or asset of the Company or any Restricted Subsidiary,
directly or indirectly, contingently or otherwise, to the satisfaction thereof,
other than pursuant to Standard Securitization Undertakings;

     (2) with which neither the Company nor any Restricted Subsidiary has any material
contract, agreement, arrangement or understanding other than on terms no less favorable to
the Company or such Restricted Subsidiary than those that might be obtained at the time from
Persons that are not Affiliates of the Company, other than fees payable in the ordinary
course of business in connection with servicing Receivables; and

     (3) to which neither the Company nor any Restricted Subsidiary has any obligation to
maintain or preserve such entity’s financial condition or cause such entity to achieve
certain levels of operating results.

          Any such designation by the Board of Directors of the Company shall be evidenced to the
Trustee by filing with the Trustee a certified copy of the resolution of the Board of Directors of
the Company giving effect to such designation and an Officers’ Certificate certifying that such
designation complied with the foregoing conditions.

-29-

 

          “Receivables Fees” means any fees or interest paid to purchasers or lenders providing
the financing in connection with a securitization transaction, factoring agreement or other similar
agreement, including any such amounts paid by discounting the face amount of Receivables or
participations therein transferred in connection with a securitization transaction, factoring
agreement or other similar arrangement, regardless of whether any such transaction is structured as
on-balance sheet or off-balance sheet or through a Restricted Subsidiary or an Unrestricted
Subsidiary.

          “Redemption Date” means, with respect to any redemption of Securities, the date of
redemption with respect thereto.

          “Refinancing Indebtedness” means Indebtedness that is Incurred to refund, refinance,
replace, exchange, renew, repay or extend (including pursuant to any defeasance or discharge
mechanism) (collectively, “refinance,” “refinances” and “refinanced” shall
have a correlative meaning) any Indebtedness existing on the Issue Date or Incurred in compliance
with this Indenture (including Indebtedness of the Company that refinances Indebtedness of any
Restricted Subsidiary and Indebtedness of any Restricted Subsidiary that refinances Indebtedness of
another Restricted Subsidiary) including Indebtedness that refinances Refinancing Indebtedness,
provided, however, that:

     (1) (a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the
Stated Maturity of the Securities, the Refinancing Indebtedness has a Stated Maturity no
earlier than the Stated Maturity of the Indebtedness being refinanced or (b) if the Stated
Maturity of the Indebtedness being refinanced is later than the Stated Maturity of the
Securities, the Refinancing Indebtedness has a Stated Maturity at least 91 days later than
the Stated Maturity of the Securities;

     (2) the Refinancing Indebtedness has an Average Life at the time such Refinancing
Indebtedness is Incurred that is equal to or greater than the Average Life of the
Indebtedness being refinanced;

     (3) such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if
issued with original issue discount, an aggregate issue price) that is equal to or less than
the sum of the aggregate principal amount (or if issued with original issue discount, the
aggregate accreted value) then outstanding of the Indebtedness being refinanced (plus,
without duplication, any additional Indebtedness Incurred to pay interest or premiums
required by the instruments governing such existing Indebtedness and fees Incurred in
connection therewith); and

     (4) if the Indebtedness being refinanced is subordinated in right of payment to the
Securities or the Subsidiary Guarantee, such Refinancing Indebtedness is subordinated in
right of payment to the Securities or the Subsidiary Guarantee on terms at least as
favorable to the Holders as those contained in the documentation governing the Indebtedness
being extended, refinanced, renewed, replaced, defeased or refunded.

          “Registration Rights Agreement” means that certain registration rights agreement dated
as of the Issue Date by and among the Company, the Note Guarantors and the Initial

-30-

 

Purchasers set forth therein and, with respect to any Additional Securities, one or more
substantially similar registration rights agreements among the Company and the other parties
thereto, as such agreements may be amended from time to time.

          “Regulation S” means Regulation S under the Securities Act.

          “Related Business” means any business that is the same as or related, ancillary or
complementary to any of the businesses of the Company and its Restricted Subsidiaries, on the Issue
Date.

          “Restricted Investment” means any Investment other than a Permitted Investment.

          “Restricted Period,” with respect to any Securities, means the period of 40
consecutive days beginning on and including the later of (A) the day on which the Securities are
first offered to Persons other than distributors (as defined in Regulation S), notice of which day
shall be promptly given by the Company to the Trustee, and (B) the issue date with respect to such
Securities.

          “Restricted Securities Legend” means the Private Placement Legend set forth in
Section 2.1(d)(A) or the Regulation S Legend set forth in Section 2.1(d)(B), as
applicable.

          “Restricted Subsidiary” means any Subsidiary of the Company other than an Unrestricted
Subsidiary.

          “Rule 144A” means Rule 144A under the Securities Act.

          “Sale/Leaseback Transaction” means an arrangement relating to property now owned or
hereafter acquired whereby the Company or a Restricted Subsidiary transfers such property to a
Person (other than the Company or any of its Subsidiaries) and the Company or a Restricted
Subsidiary leases it from such Person.

          “SEC” means the United States Securities and Exchange Commission.

          “Securities” has the meaning ascribed to it in the second introductory paragraph of
this Indenture.

          “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the SEC promulgated thereunder.

          “Securities Custodian” means the custodian with respect to the Global Securities (as
appointed by DTC), or any successor Person thereto and shall initially be the Trustee.

          “Securities Documents” means this Indenture, the Securities, the Note Guarantees, the
Collateral Documents and the Intercreditor Agreement.

          “Securities Register” means the register of Securities, maintained by the Registrar,
pursuant to Section 2.3.

-31-

 

          “Senior Secured Credit Agreement” means the Amended and Restated Credit Agreement to
be entered into among the Company, Libbey Europe B.V., a Netherlands corporation, the other Loan
Parties party thereto, J.P. Morgan Securities Inc., as sole lead arranger and bookrunner, JPMorgan
Chase Bank, N.A., as Administrative Agent, and the lenders parties thereto from time to time, as
the same may be amended, restated, modified, renewed, refunded, replaced (whether upon termination
or otherwise) or refinanced in whole or in part from time to time (including increasing the amount
loaned thereunder; provided that such additional Indebtedness is Incurred in accordance with
Section 3.2; provided that a Senior Secured Credit Agreement shall not (x) include
Indebtedness issued, created or Incurred pursuant to a registered offering of securities under the
Securities Act or a private placement of securities (including under Rule 144A or Regulation S)
pursuant to an exemption from the registration requirements of the Securities Act or (y) relate to
Indebtedness that does not consist exclusively of Pari Passu Indebtedness or Guarantor Pari Passu
Indebtedness or Indebtedness of a Foreign Subsidiary.

          “Senior Secured Credit Agreement Obligations” means Indebtedness outstanding under the
Senior Secured Credit Agreement that is secured by a Permitted Lien described in clause (1) of the
definition thereof, and all other obligations (not constituting Indebtedness) of the Company or any
Note Guarantor under the Senior Secured Credit Agreement.

          “Shelf Registration Statement” shall have the meaning set forth in the Registration
Rights Agreement.

          “Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant
Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the
SEC.

          “Standard Securitization Undertakings” means representations, warranties, covenants
and indemnities entered into by the Company or any Restricted Subsidiary that are reasonably
customary in securitization of Receivables transactions.

          “Stated Maturity” means, with respect to any Indebtedness, the date specified in the
agreement governing or certificate relating to such Indebtedness as the fixed date on which the
final payment of principal of such security is due and payable, including pursuant to any mandatory
redemption provision, but shall not include any contingent obligations to repay, redeem or
repurchase any such principal prior to the date originally scheduled for the payment thereof.

          “Subordinated Obligation” means any Indebtedness of the Company (whether outstanding
on the Issue Date or thereafter Incurred) that is subordinated or junior in right of payment to the
Securities pursuant to a written agreement, without giving effect to collateral arrangements.

          “Subsidiary” of any Person means (a) any corporation, association or other business
entity (other than a partnership, joint venture, limited liability company or similar entity) of
which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without
regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof (or persons performing similar functions) or (b) any partnership, joint

-32-

 

venture limited liability company or similar entity of which more than 50% of the capital
accounts, distribution rights, total equity and voting interests or general or limited partnership
interests, as applicable, is, in the case of clauses (a) and (b), at the time owned or controlled,
directly or indirectly, by (1) such Person, (2) such Person and one or more Subsidiaries of such
Person or (3) one or more Subsidiaries of such Person. Unless otherwise specified herein, each
reference to a Subsidiary will refer to a Subsidiary of the Company.

          “Subsidiary Guarantee” means, individually, any Guarantee of payment of the Securities
and Exchange Securities issued in an Exchange Offer by a Subsidiary Guarantor pursuant to the terms
of this Indenture and any supplemental indenture hereto (which shall be substantially in the form
of Exhibit C), and, collectively, all such Guarantees. Each such Subsidiary Guarantee will be in
the form prescribed by this Indenture.

          “Subsidiary Guarantor” means each Restricted Subsidiary in existence on the Issue Date
that provides a Subsidiary Guarantee on the Issue Date (and any other Restricted Subsidiary that
provides a Subsidiary Guarantee in accordance with this Indenture); provided that upon release or
discharge of such Restricted Subsidiary from its Subsidiary Guarantee in accordance with this
Indenture, such Restricted Subsidiary ceases to be a Subsidiary Guarantor.

          “TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939, as in
effect on the date of this Indenture.

          “Total Assets” means, with respect to any Person, the total assets of such Person and
its Restricted Subsidiaries determined in accordance with GAAP, as shown on its most recent balance
sheet.

          “Transactions” means the issuance and sale of the notes, the refinancing of certain
existing Indebtedness, the entering into of the new Senior Secured Credit Agreement and payment of
fees and expenses related to each of the foregoing.

          “Trust Officer” shall mean, when used with respect to the Trustee, any officer within
the corporate trust department of the Trustee, who has direct responsibility for the administration
of this Indenture or to whom any corporate trust matter is referred because of such person’s
knowledge of and familiarity with the particular subject and who shall have direct responsibility
for the administration of this Indenture.

          “Trustee” means the party named as such in this Indenture until a successor replaces
it and, thereafter, means, the successor.

          “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from
time to time.

          “Unrestricted Subsidiary” means:

     (1) any Subsidiary of the Company that at the time of determination shall be designated
an Unrestricted Subsidiary by the Board of Directors of the Company in the manner provided
below; and

-33-

 

          (2) Subsidiary of an Unrestricted Subsidiary.

          The Board of Directors of the Company may designate any Subsidiary of the Company (including
any newly acquired or newly formed Subsidiary or a Person becoming a Subsidiary through merger or
consolidation or Investment therein) to be an Unrestricted Subsidiary only if:

     (1) such Subsidiary or any of its Subsidiaries does not own any Capital Stock or
Indebtedness of or have any Investment in, or own or hold any Lien on any property of, any
other Subsidiary of the Company that is not a Subsidiary of the Subsidiary to be so
designated or otherwise an Unrestricted Subsidiary;

     (2) all the Indebtedness of such Subsidiary and its Subsidiaries shall, at the date of
designation, and will at all times thereafter, consist of Non-Recourse Debt;

     (3) such designation and the Investment of the Company in such Subsidiary complies with
Section 3.3;

     (4) such Subsidiary, either alone or in the aggregate with all other Unrestricted
Subsidiaries, does not operate, directly or indirectly, all or substantially all of the
business of the Company and its Subsidiaries;

     (5) such Subsidiary is a Person with respect to which neither the Company nor any of
its Restricted Subsidiaries has any direct or indirect obligation:

     (a) to subscribe for additional Capital Stock of such Person; or

     (b) to maintain or preserve such Person’s financial condition or to cause such
Person to achieve any specified levels of operating results; and

     (6) on the date such Subsidiary is designated an Unrestricted Subsidiary, such
Subsidiary is not a party to any agreement, contract, arrangement or understanding with the
Company or any Restricted Subsidiary with terms substantially less favorable to the Company
than those that might have been obtained from Persons who are not Affiliates of the Company.

          Any such designation by the Board of Directors of the Company shall be evidenced to the
Trustee by filing with the Trustee a resolution of the Board of Directors of the Company giving
effect to such designation and an Officers’ Certificate certifying that such designation complies
with the foregoing conditions. If, at any time, any Unrestricted Subsidiary would fail to meet the
foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an
Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary
shall be deemed to be Incurred as of such date.

          The Board of Directors of the Company may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided that immediately after giving effect to such designation, no
Default or Event of Default shall have occurred and be continuing or would occur as a

-34-

 

consequence thereof and the Company could Incur at least $1.00 of additional Indebtedness
pursuant to the first paragraph of Section 3.2 on a pro forma basis taking into account
such designation.

          “U.S. Government Obligations” means securities that are (a) direct obligations of the
United States of America for the timely payment of which its full faith and credit is pledged or
(b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America the timely payment of which is unconditionally guaranteed as a full
faith and credit obligation of the United States of America, which, in either case, are not
callable or redeemable at the option of the issuer thereof, and shall also include a depositary
receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with
respect to any such U.S. Government Obligations or a specific payment of principal of or interest
on any such U.S. Government Obligations held by such custodian for the account of the holder of
such depositary receipt; provided that (except as required by law) such custodian is not authorized
to make any deduction from the amount payable to the holder of such depositary receipt from any
amount received by the custodian in respect of the U.S. Government Obligations or the specific
payment of principal of or interest on the U.S. Government Obligations evidenced by such depositary
receipt.

          “Voting Stock” of a Person means all classes of Capital Stock of such Person then
outstanding and normally entitled to vote in the election of directors, managers or trustees, as
applicable, of such Person.

          “Wholly-Owned Subsidiary” means a Restricted Subsidiary, all of the Capital Stock of
which (other than directors’ qualifying shares) is owned by the Company or another Wholly-Owned
Subsidiary.

          SECTION 1.2. Other Definitions.

	 	 	 
	Term	 	Defined in Section
	“Additional Restricted Securities”
	 	2.1(b)
	“Affiliate Transaction”
	 	3.8
	“Agent”
	 	3.14
	“Agent Members”
	 	2.1(e)
	“Asset Disposition Offer”
	 	3.5
	“Asset Disposition Offer Amount”
	 	3.5
	“Asset Disposition Offer Period”
	 	3.5
	“Asset Disposition Purchase Date”
	 	3.5
	“Authenticating Agent”
	 	2.2
	“Change of Control Offer”
	 	3.11
	“Change of Control Payment”
	 	3.11
	“Change of Control Payment Date”
	 	3.11
	“Company Order”
	 	2.2
	“covenant defeasance option”
	 	8.1(b)
	“cross-acceleration provision”
	 	6.1(6)(b)
	“Defaulted Interest”
	 	2.13

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	Term	 	Defined in Section
	“Event of Default”
	 	6.1
	“Excess Proceeds”
	 	3.5
	“Exchange Global Note”
	 	2.1(b)
	“Global Securities”
	 	2.1(b)
	“Guarantor Obligations”
	 	10.1
	“Institutional Accredited Investor Global Note”
	 	2.1(b)
	“Institutional Accredited Investor Notes”
	 	2.1(b)
	“legal defeasance option”
	 	8.1(b)
	“Pari Passu Notes”
	 	3.5
	“payment default”
	 	6.1(6)(a)
	“Paying Agent”
	 	2.3
	“Private Placement Legend”
	 	2.1(d)
	“protected purchaser”
	 	2.9
	“Registrar”
	 	2.3
	“Regulation S Global Note”
	 	2.1(b)
	“Regulation S Legend”
	 	2.1(d)
	“Regulation S Notes”
	 	2.1(b)
	“Resale Restriction Termination Date”
	 	2.6(a)
	“Restricted Payment”
	 	3.3
	“Restricted Securities”
	 	2.1(a)
	“Rule 144A Global Note”
	 	2.1(b)
	“Rule 144A Notes”
	 	2.1(b)
	“Special Interest Payment Date”
	 	2.13(a)
	“Special Record Date”
	 	2.13(a)
	“Successor Company”
	 	4.1

          SECTION 1.3. Incorporation by Reference of Trust Indenture Act. This Indenture is
subject to the mandatory provisions of the TIA, which are incorporated by reference in and made a
part of this Indenture. The following TIA terms have the following meanings:

          “Commission” means the SEC.

          “indenture securities” means the Securities.

          “indenture security holder” means a Holder.

          “indenture to be qualified” means this Indenture.

          “indenture trustee” or “institutional trustee” means the Trustee.

     “obligor” on the indenture securities means the Company, any Subsidiary Guarantors and
any other obligor on the indenture securities.

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          All other TIA terms used in this Indenture that are defined by the TIA, defined in the TIA by
reference to another statute or defined by SEC rule have the meanings assigned to them by such
definitions.

          SECTION 1.4. Rules of Construction. Unless the context otherwise requires:

     (1) a term has the meaning assigned to it;

     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;

     (3) “including” means including without limitation;

     (4) words in the singular include the plural and words in the plural include the
singular;

     (5) the principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the
issuer dated such date prepared in accordance with GAAP;

     (6) the principal amount of any Preferred Stock shall be (i) the maximum liquidation
value of such Preferred Stock or (ii) the maximum mandatory redemption or mandatory
repurchase price with respect to such Preferred Stock, whichever is greater;

     (7) all amounts expressed in this Indenture or in any of the Securities in terms of
money refer to the lawful currency of the United States of America; and

     (8) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision.

ARTICLE II

THE SECURITIES

          SECTION 2.1. Form, Dating and Terms.

          (a) The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. The Initial Securities issued on the date hereof will be in an
aggregate principal amount of $400,000,000. In addition, the Company may issue, from time to time
in accordance with the provisions of this Indenture, Additional Securities and Exchange Securities.
Furthermore, Securities may be authenticated and delivered upon registration or transfer, or in
lieu of, other Securities pursuant to Section 2.6, 2.9, 2.11, 5.8
or 9.5 or in connection with a Change of Control Offer pursuant to Section 3.11 or
an Asset Disposition Offer under Section 3.5.

          The Initial Securities shall be known and designated as “10% Senior Secured Notes, Series A,
due 2015” of the Company. Additional Securities issued as securities bearing one of the
restrictive legends described under Section 2.1(d) (“Restricted Securities”) shall
be

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known and designated as “10% Senior Secured Notes, Series A, due 2015” of the Company.
Additional Securities issued other than as Restricted Securities shall be known and designated as
“10% Senior Secured Notes, Series B, due 2015” of the Company, and Exchange Securities shall be
known and designated as “10% Senior Secured Notes, Series B, due 2015” of the Company.

          With respect to any Additional Securities, the Company shall set forth in (a) a Board
Resolution of the Company and (b) (i) an Officers’ Certificate or (ii) one or more indentures
supplemental hereto, the following information:

     (1) the aggregate principal amount of such Additional Securities to be authenticated
and delivered pursuant to this Indenture which may be in an unlimited aggregate principal
amount;

     (2) the issue price and the issue date of such Additional Securities, including the
date from which interest shall accrue; and

     (3) whether such Additional Securities shall be Restricted Securities issued in the
form of Exhibit A hereto and/or shall be issued in the form of Exhibit B hereto.

          The Initial Securities, the Additional Securities and the Exchange Securities shall be
considered collectively as a single class for all purposes of this Indenture. Holders of the
Initial Securities, the Additional Securities and the Exchange Securities will vote and consent
together on all matters to which such Holders are entitled to vote or consent as one class, and
none of the Holders of the Initial Securities, the Additional Securities or the Exchange Securities
shall have the right to vote or consent as a separate class on any matter to which such Holders are
entitled to vote or consent.

          If any of the terms of any Additional Securities are established by action taken pursuant to a
Board Resolution of the Company, a copy of an appropriate record of such action shall be certified
by the Secretary or any Assistant Secretary of the Company and delivered to the Trustee upon
request by the Trustee at or prior to the delivery of the Officers’ Certificate or the indenture
supplemental hereto setting forth the terms of the Additional Securities.

          (b) The Initial Securities are being offered and sold by the Company pursuant to a Purchase
Agreement, dated January 28, 2010, among the Company and the Initial Purchasers. The Initial
Securities and any Additional Securities (if issued as Restricted Securities) (the “Additional
Restricted Securities”) will be resold initially only to (A) QIBs in reliance on Rule 144A and
(B) Non-U.S. Persons in reliance on Regulation S. Such Initial Securities and Additional
Restricted Securities may thereafter be transferred to, among others, QIBs, purchasers in reliance
on Regulation S and IAIs in accordance with Rule 501 of the Securities Act, in each case, in
accordance with the procedures described herein. Additional Securities offered after the date
hereof may be offered and sold by the Company from time to time pursuant to one or more purchase
agreements in accordance with applicable law.

          Initial Securities and Additional Restricted Securities offered and sold to QIBs in the United
States of America in reliance on Rule 144A (the “Rule 144A Notes”) shall be issued in the
form of a permanent global Security, without interest coupons, substantially in the form of

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Exhibit A, which is hereby incorporated by reference and made a part of this Indenture,
including appropriate legends as set forth under Section 2.1(d) (the “Rule 144A Global
Note”), deposited with the Trustee, as custodian for DTC, duly executed by the Company and
authenticated by the Trustee as hereinafter provided. The Rule 144A Global Note may be represented
by more than one certificate, if so required by DTC’s rules regarding the maximum principal amount
to be represented by a single certificate. The aggregate principal amount of the Rule 144A Global
Note may from time to time be increased or decreased by adjustments made on the Rule 144A Global
Note and on the records of the Trustee, as custodian for DTC or its nominee, as hereinafter
provided.

          Initial Securities and Additional Securities offered and sold outside the United States of
America (the “Regulation S Notes”) in reliance on Regulation S shall be issued in the form
of a permanent global Security, without interest coupons, substantially in the form of Exhibit A
including appropriate legends as set forth under Section 2.1(d) (the “Regulation S
Global Note”). The Regulation S Global Note will be deposited upon issuance with the Trustee,
as custodian for DTC, duly executed by the Company and authenticated by the Trustee as hereinafter
provided. During the Restricted Period, interests in the Regulation S Global Note may be
transferred to Non-U.S. Persons pursuant to Regulation S or to QIBs and IAIs in accordance with
this Indenture. The Regulation S Global Note may be represented by more than one certificate, if
so required by DTC’s rules regarding the maximum principal amount to be represented by a single
certificate. The aggregate principal amount of the Regulation S Global Note may from time to time
be increased or decreased by adjustments made on the Regulation S Global Note and on the records of
the Trustee, as custodian for DTC or its nominee, as hereinafter provided.

          Initial Securities and Additional Securities resold to IAIs (the “Institutional Accredited
Investor Notes”) in the United States of America shall be issued in the form of a permanent
global Security, without interest coupons, substantially in the form of Exhibit A including
appropriate legends as set forth under Section 2.1(d) (the “Institutional Accredited
Investor Global Note”) deposited with the Trustee, as custodian for DTC, duly executed by the
Company and authenticated by the Trustee as hereinafter provided. The Institutional Accredited
Investor Global Note may be represented by more than one certificate, if so required by DTC’s rules
regarding the maximum principal amount to be represented by a single certificate. The aggregate
principal amount of the Institutional Accredited Investor Global Note may from time to time be
increased or decreased by adjustments made on the Institutional Accredited Investor Note and on the
records of the Trustee, as custodian for DTC or its nominee, as hereinafter provided.

          Exchange Securities exchanged for interests in the Rule 144A Notes, the Regulation S Notes and
the Institutional Accredited Investor Notes will be issued in the form of a permanent global
Security, without interest coupons, substantially in the form of Exhibit B, which is hereby
incorporated by reference and made a part of this Indenture, deposited with the Trustee as
hereinafter provided, including the appropriate legend set forth under Section 2.1(d) (the
“Exchange Global Note”). The Exchange Global Note will be deposited upon issuance with, or
on behalf of, the Trustee as custodian for DTC, duly executed by the Company and authenticated by
the Trustee as hereinafter provided. The Exchange Global Note may be represented by more than one
certificate, if so required by DTC’s rules regarding the maximum principal amount to be represented
by a single certificate.

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          The Rule 144A Global Note, the Regulation S Global Note, the Institutional Accredited Investor
Global Note and the Exchange Global Note are sometimes collectively herein referred to as the
“Global Securities.”

          The principal of (and premium, if any) and interest on the Securities shall be payable at the
office or agency of the Company maintained for such purpose in the Borough of Manhattan, The City
of New York, State of New York, or at such other office or agency of the Company as may be
maintained for such purpose pursuant to Section 2.3; provided, however, that, at the option
of the Company, each installment of interest may be paid by (i) check mailed to addresses of the
Persons entitled thereto as such addresses shall appear on the Securities Register or (ii) wire
transfer to an account located in the United States maintained by the payee. Payments in respect
of Securities represented by a Global Security (including principal, premium, if any, and interest)
will be made by wire transfer of immediately available funds to the accounts specified by DTC.
Payments in respect of Securities represented by Definitive Securities (including principal,
premium, if any, and interest) held by a Holder of at least $1,000,000 aggregate principal amount
of Securities represented by Definitive Securities will be made by wire transfer to a U.S. dollar
account maintained by the payee with a bank in the United States if such Holder elects payment by
wire transfer by giving written notice to the Trustee or the Paying Agent to such effect
designating such account no later than 15 days immediately preceding the relevant due date for
payment (or such other date as the Trustee may accept in its discretion).

          The Securities may have notations, legends or endorsements required by law, stock exchange
rule or usage, in addition to those set forth on Exhibit A and Exhibit B and under
Section 2.1(d). The Company and the Trustee shall approve the forms of the Securities and
any notation, endorsement or legend on them. Each Security shall be dated the date of its
authentication. The terms of the Securities set forth in Exhibit A and Exhibit B
are part of the terms of this Indenture and, to the extent applicable, the Company and the Trustee
by their execution and delivery of this Indenture, expressly agree to be bound by such terms.

          (c) Denominations. The Securities shall be issuable only in fully registered form,
without interest coupons, and in minimum denominations of $2,000 and integral multiples of $1,000
in excess thereof.

          (d) Restrictive Legends. Unless and until (i) an Initial Security is sold under an
effective registration statement or (ii) an Initial Security is exchanged for an Exchange Security
in connection with an effective registration statement, in each case pursuant to the Registration
Rights Agreement or a similar agreement,

     (A) The Rule 144A Global Note and the Institutional Accredited Investor Global Note
shall bear the following legend (the “Private Placement Legend”) on the face
thereof:

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN
MAY BE REOFFERED, SOLD, ASSIGNED,

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TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF
SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT
TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF,
AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT
HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY,
ONLY (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS
BECOME OR BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS
THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED
STATES IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, (E) TO AN
INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED
INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH
AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL
AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A
VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION
OF THE SECURITIES ACT, (F) PURSUANT TO THE EXEMPTION FROM REGISTRATION
PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (G) PURSUANT
TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY
SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E), (F) OR (G) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE
REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

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     (B) The Regulation S Global Note shall bear the following legend (the “Regulation S
Legend”) on the face thereof:

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION, AND MAY NOT BE OFFERED, SOLD OR DELIVERED IN THE UNITED STATES
OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY US PERSON, UNLESS SUCH NOTES ARE
REGISTERED UNDER THE SECURITIES ACT OR AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS THEREOF IS AVAILABLE. THIS LEGEND WILL BE REMOVED AFTER THE
EXPIRATION OF FORTY DAYS FROM THE LATER OF (i) THE DATE ON WHICH THESE NOTES
WERE FIRST OFFERED AND (ii) THE DATE OF ISSUE OF THESE NOTES.THE HOLDER OF
THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON
BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO
OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE
“RESALE RESTRICTION TERMINATION DATE”) THAT IS 40 DAYS AFTER THE LATER OF THE
ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY
AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF
SUCH SECURITY), ONLY (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION
STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR
SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER
THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED
STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN
INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1),
(2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED
INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM
PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND
NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION
IN VIOLATION OF THE SECURITIES ACT, OR (F)

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PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO
ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON
THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. BY
ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S.
PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING
THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S
UNDER THE SECURITIES ACT.

     (C) Each Global Security, whether or not an Initial Security, shall bear the following
legend on the face thereof:

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW
YORK, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE,
BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR
SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY
SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

          (e) Book-Entry Provisions.

          (i) This Section 2.1(e) shall apply only to Global Securities deposited with the
Trustee, as custodian for DTC.

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          (ii) Each Global Security initially shall (x) be registered in the name of DTC or the nominee
of DTC, (y) be delivered to the Trustee as custodian for DTC and (z) bear legends as set forth
under Section 2.1(d).

          (iii) Members of, or participants in, DTC (“Agent Members”) shall have no rights under
this Indenture with respect to any Global Security held on their behalf by DTC or by the Trustee as
the custodian of DTC or under such Global Security, and DTC may be treated by the Company, the
Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Security
for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the
Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written
certification, proxy or other authorization furnished by DTC or impair, as between DTC and its
Agent Members, the operation of customary practices of DTC governing the exercise of the rights of
a Holder of a beneficial interest in any Global Security.

          (iv) In connection with any transfer of a portion of the beneficial interest in a Global
Security pursuant to subsection (f) of this Section 2.1 to beneficial owners who are
required to hold Definitive Securities, the Securities Custodian shall reflect on its books and
records the date and a decrease in the principal amount of such Global Security in an amount equal
to the principal amount of the beneficial interest in the Global Security to be transferred, and
the Company shall execute, and the Trustee shall authenticate and make available for delivery, one
or more Definitive Securities of like tenor and amount.

          (v) In connection with the transfer of an entire Global Security to beneficial owners pursuant
to subsection (f) of this Section 2.1, such Global Security shall be deemed to be
surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall
authenticate and make available for delivery, to each beneficial owner identified by DTC in
exchange for its beneficial interest in such Global Security, an equal aggregate principal amount
of Definitive Securities of authorized denominations.

          (vi) The registered Holder of a Global Security may grant proxies and otherwise authorize any
person, including Agent Members and persons that may hold interests through Agent Members, to take
any action which a Holder is entitled to take under this Indenture or the Securities.

          (vii) Any Holder of a Global Security shall, by acceptance of such Global Security, agree that
transfers of beneficial interests in such Global Security may be effected only through a book-entry
system maintained by (a) the Holder of such Global Security (or its agent) or (b) any Holder of a
beneficial interest in such Global Security, and that ownership of a beneficial interest in such
Global Security shall be required to be reflected in a book entry.

          (f) Definitive Securities. (a) Except as provided below, owners of beneficial
interests in Global Securities will not be entitled to receive Definitive Securities. If required
to do so pursuant to any applicable law or regulation, beneficial owners may obtain Definitive
Securities in exchange for their beneficial interests in a Global Security upon written request in
accordance with DTC’s and the Registrar’s procedures. In addition, Definitive Securities shall be
transferred to all beneficial owners in exchange for their beneficial interests in a Global
Security if (A) DTC notifies the Company at any time that it is unwilling or unable to continue as

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depositary for such Global Security or DTC ceases to be a clearing agency registered under the
Exchange Act, at a time when DTC is required to be so registered in order to act as depositary, and
in each case a successor depositary is not appointed by the Company within 90 days of such notice
or (B) the Company in its sole discretion executes and delivers to the Trustee and Registrar an
Officers’ Certificate stating that such Global Security shall be so exchangeable or (C) an Event of
Default has occurred and is continuing and the Registrar has received a request from DTC. In the
event of the occurrence of any of the events specified in clause (A), (B) or (C) of the preceding
sentence, the Company shall promptly make available to the Trustee a reasonable supply of
Definitive Securities in fully registered form without interest coupons.

          (i) Any Definitive Security delivered in exchange for an interest in a Global Security
pursuant to Section 2.1(e)(iv) or (v) shall, except as otherwise provided by
Section 2.6(c), bear the applicable legend regarding transfer restrictions applicable to
the Definitive Security set forth under Section 2.1(d).

          (ii) In connection with the exchange of a portion of a Definitive Security for a beneficial
interest in a Global Security, the Trustee shall cancel such Definitive Security, and the Company
shall execute, and the Trustee shall authenticate and make available for delivery, to the
transferring Holder a new Definitive Security representing the principal amount not so transferred.

          (g) OID Legend. Each Security issued with “original issue discount” as defined in
Section 1273 of the Code, whether an Initial Security, Additional Security or Exchange Security,
shall bear the following legend on the face thereof:

THIS SECURITY WAS ISSUED WITH “ORIGINAL ISSUE DISCOUNT” AS DEFINED IN SECTION 1273
OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. YOU MAY OBTAIN INFORMATION
REGARDING THE AMOUNT OF ORIGINAL ISSUE DISCOUNT, THE ISSUE PRICE, THE ISSUE DATE AND
THE YIELD TO MATURITY BY CONTACTING THE CHIEF FINANCIAL OFFICER OF LIBBEY GLASS
INC. AT 300 MADISON AVENUE, P.O. BOX 10060, TOLEDO, OHIO 43699-0060, OR AT (419)
325-2100.

          SECTION 2.2. Execution and Authentication. One Officer shall sign the Securities for
the Company by manual or facsimile signature. If an Officer whose signature is on a Security no
longer holds that office at the time the Trustee authenticates the Security, the Security shall be
valid nevertheless.

          A Security shall not be valid until an authorized signatory of the Trustee manually
authenticates the Security. The signature of the Trustee on a Security shall be conclusive
evidence that such Security has been duly and validly authenticated and issued under this
Indenture. A Security shall be dated the date of its authentication.

          At any time and from time to time after the execution and delivery of this Indenture, the
Trustee shall authenticate and make available for delivery: (1) Initial Securities for original
issue on the Issue Date in an aggregate principal amount of $400,000,000, (2) subject to

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the terms of this Indenture, Additional Securities for original issue in an unlimited
principal amount and (3) Exchange Securities for issue only in an Exchange Offer or upon resale
under an effective Shelf Registration Statement, and only in exchange for Initial Securities or
Additional Securities of an equal principal amount, in each case upon a written order of the
Company signed by one Officer of the Company (the “Company Order”). Such Company Order
shall specify whether the Securities will be in the form of Definitive Securities or Global
Securities, the amount of the Securities to be authenticated and the date on which the original
issue of Securities is to be authenticated and whether the Securities are to be Initial Securities,
Additional Securities or Exchange Securities.

          The Trustee may appoint an agent (the “Authenticating Agent”) reasonably acceptable to
the Company to authenticate the Securities. Any such appointment shall be evidenced by an
instrument signed by a Trust Officer, a copy of which shall be furnished to the Company. Unless
limited by the terms of such appointment, any such Authenticating Agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee
includes authentication by the Authenticating Agent. An Authenticating Agent has the same rights
as any Registrar, Paying Agent or agent for service of notices and demands.

          In case the Company, pursuant to Article IV, shall be consolidated or merged with or
into any other Person or shall convey, transfer, lease or otherwise dispose of its properties and
assets substantially as an entirety to any Person, and the successor Person resulting from such
consolidation, or surviving such merger, or into which the Company shall have been merged, or the
Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid,
shall have executed an indenture supplemental hereto with the Trustee pursuant to Article
IV, any of the Securities authenticated or delivered prior to such consolidation, merger,
conveyance, transfer, lease or other disposition may, from time to time, at the request of the
successor Person, be exchanged for other Securities executed in the name of the successor Person
with such changes in phraseology and form as may be appropriate, but otherwise in substance of like
tenor as the Securities surrendered for such exchange and of like principal amount; and the
Trustee, upon Company Order of the successor Person, shall authenticate and make available for
delivery Securities as specified in such order for the purpose of such exchange. If Securities
shall at any time be authenticated and delivered in any new name of a successor Person pursuant to
this Section 2.2 in exchange or substitution for or upon registration of transfer of any
Securities, such successor Person, at the option of the Holders but without expense to them, shall
provide for the exchange of all Securities at the time outstanding for Securities authenticated and
delivered in such new name.

          SECTION 2.3. Registrar and Paying Agent. The Company shall maintain an office or
agency where Securities may be presented for registration of transfer or for exchange (the
“Registrar”) and an office or agency where Securities may be presented for payment (the
“Paying Agent”). The Company shall cause each of the Registrar and the Paying Agent to
maintain an office or agency in New York, New York. The Registrar shall keep a register of the
Securities and of their transfer and exchange. The Company may have one or more co-registrars and
one or more additional paying agents. The term “Paying Agent” includes any additional paying
agent, and the term “Registrar” includes any co-registrar.

-46-

 

          The Company shall enter into an appropriate agency agreement with any Registrar or Paying
Agent not a party to this Indenture, which shall incorporate the terms of the TIA. The agreement
shall implement the provisions of this Indenture that relate to such agent. The Company shall
notify the Trustee of the name and address of each such agent. If the Company fails to maintain a
Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate
compensation therefor pursuant to Section 7.7. Any of the Company’s Restricted
Subsidiaries organized in the United States may act as Paying Agent, Registrar or transfer agent.

          The Company initially appoints the Trustee as Registrar and Paying Agent for the Securities.
The Company may remove any Registrar or Paying Agent without notice to any Holder upon written
notice to such Registrar or Paying Agent and to the Trustee; provided, however, that no such
removal shall become effective until (i) acceptance of any appointment by a successor as evidenced
by an appropriate agreement entered into by the Company and such successor Registrar or Paying
Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that
the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in
accordance with clause (i) above. The Registrar or Paying Agent may resign at any time upon
written notice to the Company and the Trustee.

          SECTION 2.4. Paying Agent to Hold Money in Trust. By no later than 10:00 a.m. (New
York City time) on the date on which any principal of, premium, if any, or interest on any Security
is due and payable, the Company shall deposit with the Paying Agent a sum sufficient in immediately
available funds to pay such principal, premium, if any, or interest when due. The Company shall
require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall
hold in trust for the benefit of the Holders or the Trustee all money held by such Paying Agent for
the payment of principal, premium, if any, of or interest on the Securities (whether such assets
have been distributed to it by the Company or other obligors on the Securities) and shall notify
the Trustee in writing of any default by the Company or any Subsidiary Guarantor in making any such
payment. If any Subsidiary Guarantor of the Company acts as Paying Agent, it shall segregate the
money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may
require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to
account for any funds or assets disbursed by such Paying Agent. Upon complying with this
Section 2.4, the Paying Agent (if other than a Subsidiary Guarantor of the Company) shall
have no further liability for the money delivered to the Trustee. Upon any bankruptcy,
reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying
Agent for the Securities.

          SECTION 2.5. Holder Lists. The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and addresses of Holders
and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, or to the
extent otherwise required under the TIA, the Company, on its own behalf and on behalf of each of
the Subsidiary Guarantors, if any, shall furnish or cause the Registrar to furnish to the Trustee,
in writing at least five Business Days before each interest payment date and at such other times as
the Trustee may request in writing, a list in such form and as of such date as the Trustee may
reasonably require of the names and addresses of the Holders, and the Company and the Subsidiary
Guarantors shall otherwise comply with TIA § 312(a).

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          SECTION 2.6. Transfer and Exchange.

          (a) The following provisions shall apply with respect to any proposed transfer of a Rule 144A
Note or an Institutional Accredited Investor Note prior to the date which is one year after the
later of the date of its original issue and the last date on which the Company or any Affiliate of
the Company was the owner of such Securities (or any predecessor thereto) (the “Resale
Restriction Termination Date”):

     (i) a transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a
beneficial interest therein to a QIB shall be made upon the representation of the
transferee, in the form of assignment as set forth on the reverse of the Security, that it
is purchasing the Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified
institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is
being made in reliance on Rule 144A and acknowledges that it has received such information
regarding the Company as the undersigned has requested pursuant to Rule 144A or has
determined not to request such information and that it is aware that the transferor is
relying upon its foregoing representations in order to claim the exemption from registration
provided by Rule 144A;

     (ii) a transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a
beneficial interest therein to an IAI shall be made upon receipt by the Trustee or its agent
of a certificate substantially in the form set forth under Section 2.7 from the
proposed transferee and, if requested by the Company or the Trustee, the receipt by the
Trustee or its agent of an opinion of counsel, certification and/or other information
satisfactory to each of them; and

     (iii) a transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a
beneficial interest therein to a Non-U.S. Person shall be made upon receipt by the Trustee
or its agent of a certificate substantially in the form set forth under Section 2.8
from the proposed transferor and, if requested by the Company or the Trustee, the delivery
of an opinion of counsel, certification and/or other information satisfactory to each of
them.

          After the Resale Restriction Termination Date, interests in a Rule 144A Note or an
Institutional Accredited Investor Note may be transferred in accordance with applicable law without
requiring the certifications set forth under Section 2.7 or 2.8 or any additional
certification.

          (b) The following provisions shall apply with respect to any proposed transfer of a Regulation
S Note prior to the expiration of the Restricted Period:

     (i) a transfer of a Regulation S Note or a beneficial interest therein to a QIB shall
be made upon the representation of the transferee, in the form of assignment as set forth on
the reverse of the Security, that it is purchasing the Security for its own account or an
account with respect to which it exercises sole investment discretion and that it and any
such account is a “qualified institutional buyer” within the meaning of Rule 144A,

-48-

 

and is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned
has requested pursuant to Rule 144A or has determined not to request such information and
that it is aware that the transferor is relying upon its foregoing representations in order
to claim the exemption from registration provided by Rule 144A;

     (ii) a transfer of a Regulation S Note or a beneficial interest therein to an IAI shall
be made upon receipt by the Trustee or its agent of a certificate substantially in the form
set forth under Section 2.7 from the proposed transferee and, if requested by the
Company or the Trustee, the delivery of an opinion of counsel, certification and/or other
information satisfactory to each of them; and

     (iii) a transfer of a Regulation S Note or a beneficial interest therein to a Non-U.S.
Person shall be made upon receipt by the Trustee or its agent of a certificate substantially
in the form set forth under Section 2.8 hereof from the proposed transferor and, if
requested by the Company or the Trustee, receipt by the Trustee or its agent of an opinion
of counsel, certification and/or other information satisfactory to each of them.

          After the expiration of the Restricted Period, interests in the Regulation S Note may be
transferred in accordance with applicable law without requiring the certifications set forth under
Section 2.7 or 2.8 or any additional certification.

          (c) Restricted Securities Legend. Upon the transfer, exchange or replacement of
Securities not bearing a Restricted Securities Legend, the Registrar shall deliver Securities that
do not bear a Restricted Securities Legend. Upon the transfer, exchange or replacement of
Securities bearing a Restricted Securities Legend, the Registrar shall deliver only Securities that
bear a Restricted Securities Legend unless (i) Initial Securities are being exchanged for Exchange
Securities in an Exchange Offer, in which case the Exchange Securities shall not bear a Restricted
Securities Legend, (ii) an Initial Security is being transferred pursuant to the Shelf Registration
Statement or other effective registration statement or (iii) there is delivered to the Registrar an
Opinion of Counsel reasonably satisfactory to the Company and the Trustee to the effect that
neither such legend nor the related restrictions on transfer are required in order to maintain
compliance with the provisions of the Securities Act. Any Additional Securities sold in a
registered offering shall not be required to bear the Restricted Securities Legend.

          (d) The Registrar shall retain copies of all letters, notices and other written communications
received pursuant to Section 2.1 or this Section 2.6. The Company shall have the
right to inspect and make copies of all such letters, notices or other written communications at
any reasonable time upon the giving of reasonable prior written notice to the Registrar.

          (e) Obligations with Respect to Transfers and Exchanges of Securities.

          (i) To permit registrations of transfers and exchanges, the Company shall, subject to the
other terms and conditions of this Article II, execute, and the Trustee shall authenticate,
Definitive Securities and Global Securities at the Registrar’s request.

-49-

 

          (ii) No service charge shall be made to a Holder for any registration of transfer or exchange,
but the Company may require the Holder to pay a sum sufficient to cover any transfer tax,
assessment or similar governmental charge payable in connection therewith (other than any such
transfer taxes, assessments or similar governmental charges payable upon exchange or transfer
pursuant to Section 9.5).

          (iii) The Company (and the Registrar) shall not be required to register the transfer of or
exchange of any Security for a period beginning 15 days before the mailing of a notice of an offer
to repurchase or redeem Securities and ending at the close of business on the day of such mailing.
The Company (and the Registrar) shall not be required to register the transfer of or exchange of
any Security selected for redemption.

          (iv) Prior to the due presentation for registration of transfer of any Security, the Company,
the Trustee, the Paying Agent or the Registrar may deem and treat the person in whose name a
Security is registered as the absolute owner of such Security for the purpose of receiving payment
of principal of, premium, if any, and interest on such Security and for all other purposes
whatsoever, including the transfer or exchange of such Security, whether or not such Security is
overdue, and none of the Company, the Trustee, the Paying Agent or the Registrar shall be affected
by notice to the contrary.

          (v) All Securities issued upon any transfer or exchange pursuant to the terms of this
Indenture shall evidence the same debt and shall be entitled to the same benefits under this
Indenture as the Securities surrendered upon such transfer or exchange.

          (f) No Obligation of the Trustee.

          (i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global
Security, a member of, or a participant in, DTC or other Person with respect to the accuracy of the
records of DTC or its nominee or of any participant or member thereof, with respect to any
ownership interest in the Securities or with respect to the delivery to any participant, member,
beneficial owner or other Person (other than DTC) of any notice (including any notice of
redemption) or the payment of any amount or delivery of any Securities (or other security or
property) under or with respect to such Securities. All notices and communications to be given to
the Holders and all payments to be made to Holders in respect of the Securities shall be given or
made only to or upon the order of the registered Holders (which shall be DTC or its nominee in the
case of a Global Security). The rights of beneficial owners in any Global Security shall be
exercised only through DTC subject to the applicable rules and procedures of DTC. The Trustee may
rely and shall be fully protected in relying upon information furnished by DTC with respect to its
members, participants and any beneficial owners.

          (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law
with respect to any transfer of any interest in any Security (including any transfers between or
among DTC participants, members or beneficial owners in any Global Security) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and
to do so if and when expressly required by, the terms of this Indenture,

-50-

 

and to examine the same to determine substantial compliance as to form with the express
requirements hereof.

          SECTION 2.7. Form of Certificate to be Delivered in Connection with Transfers to IAIs.

[Date]

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street; Suite 1020

Chicago, IL 60602

Attention: Global Corporate Trust

	 	 	 
	Re:

	 	Libbey Glass Inc.
	 

	 	Senior Secured Notes, Series A, due 2015

Ladies and Gentlemen:

          This certificate is delivered to request a transfer of $                     principal amount of the
Senior Secured Notes, Series A, due 2015 (the “Securities”) of Libbey Glass Inc. (the
“Company”).

          Upon transfer, the Securities would be registered in the name of the new beneficial owner as
follows:

	 	 	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Taxpayer ID Number:
	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

     The undersigned represents and warrants to you that:

     1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2),
(3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)),
purchasing for our own account or for the account of such an institutional “accredited
investor” at least $250,000 principal amount of the Securities, and we are acquiring the
Securities not with a view to, or for offer or sale in connection with, any distribution in
violation of the Securities Act. We have such knowledge and experience in financial and
business matters as to be capable of evaluating the merits and risk of our investment in the
Securities, and we invest in or purchase securities similar to the Securities in the normal
course of our business. We and any accounts for which we are acting are each able to bear
the economic risk of our or its investment.

     2. We understand that the Securities have not been registered under the Securities Act
and, unless so registered, may not be sold except as permitted in the following sentence.
We agree on our own behalf and on behalf of any investor account for which we are purchasing
Securities to offer, sell or otherwise transfer such Securities

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prior to the date that is one year after the later of the date of original issue and the last
date on which the Company or any affiliate of the Company was the owner of such Securities
(or any predecessor thereto) (the “Resale Restriction Termination Date”) only (a) to
the Company, (b) pursuant to a registration statement that has been declared effective under
the Securities Act, (c) in a transaction complying with the requirements of Rule 144A under
the Securities Act, to a person we reasonably believe is a “qualified institutional buyer”
under Rule 144A under the Securities Act (a “QIB”) that is purchasing for its own
account or for the account of a QIB and to whom notice is given that the transfer is being
made in reliance on Rule 144A, (d) pursuant to offers and sales that occur outside the
United States within the meaning of Regulation S under the Securities Act, (e) to an
institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7)
under the Securities Act that is purchasing for its own account or for the account of such
an institutional “accredited investor,” in each case in a minimum principal amount of
Securities of $250,000, for investment purposes and not with a view to or for offer or sale
in connection with any distribution in violation of the Securities Act or (f) pursuant to
any other available exemption from the registration requirements of the Securities Act,
subject in each of the foregoing cases to any requirement of law that the disposition of our
property or the property of such investor account or accounts be at all times within our or
their control and in compliance with any applicable state securities laws. The foregoing
restrictions on resale will not apply subsequent to the Resale Restriction Termination Date.
If any resale or other transfer of the Securities is proposed to be made pursuant to clause
(e) above prior to the Resale Restriction Termination Date, the transferor shall deliver a
letter from the transferee substantially in the form of this letter to the Company and The
Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”), which shall
provide, among other things, that the transferee is an institutional “accredited investor”
(within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act) and that it
is acquiring such Securities for investment purposes and not for distribution in violation
of the Securities Act. Each purchaser acknowledges that the Company and the Trustee reserve
the right prior to any offer, sale or other transfer prior to the Resale Termination Date of
the Securities pursuant to clause (d), (e) or (f) above to require the delivery of an
opinion of counsel, certifications and/or other information satisfactory to the Company and
the Trustee.

          The Trustee and the Company are entitled to rely upon this letter and are irrevocably
authorized to produce this letter or a copy hereof to any interested party in any administrative or
legal proceedings or official inquiry with respect to the matters covered hereby.

	 	 	 	 	 	 	 	 	 
	 	 	TRANSFEREE:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	BY:	 	 	 	 	 	 
	 	 	 	 	 	 	 

cc: Libbey Glass Inc.

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          SECTION 2.8. Form of Certificate to be Delivered in Connection with Transfers Pursuant to
Regulation S.

[Date]

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street; Suite 1020

Chicago, IL 60602

Attention: Global Corporate Trust

	 	 	 
	Re:

	 	Libbey Glass Inc.
	 

	 	Senior Secured Notes, Series A, due 2015

Ladies and Gentlemen:

          In connection with our proposed sale of $                     aggregate principal amount of the Senior
Secured Notes, Series A, due 2015 (the “Securities”) of Libbey Glass Inc. (the
“Company”), we confirm that such sale has been effected pursuant to and in accordance with
Regulation S under the United States Securities Act of 1933, as amended (the “Securities
Act”), and, accordingly, we represent that:

     (a) the offer of the Securities was not made to a person in the United States;

     (b) either (i) at the time the buy order was originated, the transferee was outside the
United States or we and any person acting on our behalf reasonably believed that the
transferee was outside the United States or (ii) the transaction was executed in, on or
through the facilities of a designated off-shore securities market and neither we nor any
person acting on our behalf knows that the transaction has been pre-arranged with a buyer in
the United States;

     (c) no directed selling efforts have been made in the United States in contravention of
the requirements of Rule 903(a)(2) or Rule 904(a)(2) of Regulation S, as applicable; and

     (d) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act.

          In addition, if the sale is made during a restricted period and the provisions of Rule
903(b)(2) or Rule 904(b)(1) of Regulation S are applicable thereto, we confirm that such sale has
been made in accordance with the applicable provisions of Rule 903(b)(2) or Rule 904(b)(1), as the
case may be.

          The Bank of New York Mellon Trust Company, N.A., as Trustee, and the Company are entitled to
rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry with respect to the
matters covered hereby. Terms used in this certificate have the meanings set forth in Regulation
S.

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	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	[Name of Transferor]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Authorized Signature
	 	 

cc: Libbey Glass Inc.

          SECTION 2.9. Mutilated, Destroyed, Lost or Stolen Securities. If a mutilated Security
is surrendered to the Registrar or if the Holder of a Security claims that the Security has been
lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a
replacement Security if the requirements of Section 8-405 of the Uniform Commercial Code are met,
such that the Holder (a) notifies the Company or the Trustee within a reasonable time after such
Holder has notice of such loss, destruction or wrongful taking and the Registrar has not registered
a transfer prior to receiving such notification, (b) makes such request to the Company or the
Trustee prior to the Security being acquired by a protected purchaser as defined in Section 8-303
of the Uniform Commercial Code (a “protected purchaser”) and (c) satisfies any other
reasonable requirements of the Trustee. If required by the Trustee or the Company, such Holder
shall furnish an indemnity bond sufficient in the judgment of the Company and the Trustee to
protect the Company, the Trustee, the Paying Agent and the Registrar from any loss which any of
them may suffer if a Security is replaced, and, in the absence of notice to the Company, any
Subsidiary Guarantor or the Trustee that such Security has been acquired by a bona fide purchaser,
the Company shall execute and, upon receipt of a Company Order, the Trustee shall authenticate and
make available for delivery, in exchange for any such mutilated Security or in lieu of any such
destroyed, lost or stolen Security, a new Security of like tenor and principal amount, bearing a
number not contemporaneously outstanding.

          In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay
such Security.

          Upon the issuance of any new Security under this Section, the Company may require that such
Holder pay a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of counsel and of the
Trustee) in connection therewith.

          Every new Security issued pursuant to this Section in lieu of any mutilated, destroyed, lost
or stolen Security shall constitute an original additional contractual obligation of the Company,
any Subsidiary Guarantor (if applicable) and any other obligor upon the Securities, whether or not
the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and
shall be entitled to all benefits of this Indenture equally and proportionately with any and all
other Securities duly issued hereunder.

-54-

 

          The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities.

          SECTION 2.10. Outstanding Securities. Securities outstanding at any time are all
Securities authenticated by the Trustee except for those cancelled by it, those delivered to it for
cancellation and those described in this Section as not outstanding. A Security does not cease to
be outstanding in the event either of the Company or an Affiliate of the Company holds the
Security; provided, however, that (i) for purposes of determining which are outstanding for consent
or voting purposes hereunder, the provisions of Section 11.7 shall apply and (ii) in
determining whether the Trustee shall be protected in making a determination whether the Holders of
the requisite principal amount of outstanding Securities are present at a meeting of Holders of
Securities for quorum purposes or have consented to or voted in favor of any request, demand,
authorization, direction, notice, consent, waiver, amendment or modification hereunder, or relying
upon any such quorum, consent or vote, only Securities which a Trust Officer of the Trustee
actually knows to be held by the Company or an Affiliate of the Company shall not be considered
outstanding.

          If a Security is replaced pursuant to Section 2.9 (other than a mutilated Security
surrendered for replacement), it ceases to be outstanding and interest on it ceases to accrue
unless the Trustee and the Company receive proof satisfactory to them that the replaced Security is
held by a protected purchaser. A mutilated Security ceases to be outstanding upon surrender of
such Security and replacement pursuant to Section 2.9.

          If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
Redemption Date or maturity date money sufficient to pay all principal, premium, if any, and
accrued interest payable on that date with respect to the Securities (or portions thereof) to be
redeemed or maturing, as the case may be, and the Paying Agent is not prohibited from paying such
money to the Holders on that date pursuant to the terms of this Indenture, then on and after that
date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to
accrue.

          SECTION 2.11. Temporary Securities. In the event that Definitive Securities are to be
issued under the terms of this Indenture, until such Definitive Securities are ready for delivery,
the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary
Securities shall be substantially in the form, and shall carry all rights, of Definitive Securities
but may have variations that the Company considers appropriate for temporary Securities. Without
unreasonable delay, the Company shall prepare and the Trustee shall authenticate Definitive
Securities. After the preparation of Definitive Securities, the temporary Securities shall be
exchangeable for Definitive Securities upon surrender of the temporary Securities at any office or
agency maintained by the Company for that purpose and such exchange shall be without charge to the
Holder. Upon surrender for cancellation of any one or more temporary Securities, the Company shall
execute, and the Trustee shall authenticate and make available for delivery in exchange therefor,
one or more Definitive Securities representing an equal principal amount of Securities. Until so
exchanged, the Holder of temporary Securities shall in all respects be entitled to the same
benefits under this Indenture as a Holder of Definitive Securities.

-55-

 

          SECTION 2.12. Cancellation. The Company at any time may deliver Securities to the
Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any
Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and
no one else shall cancel all Securities surrendered for registration of transfer, exchange, payment
or cancellation and dispose of such Securities in accordance with its internal policies and
customary procedures and shall deliver canceled Securities to the Company pursuant to written
direction by an Officer of the Company. If the Company or any Subsidiary Guarantor acquires any of
the Securities, such acquisition shall not operate as a redemption or satisfaction of the
Indebtedness represented by such Securities unless and until the same are surrendered to the
Trustee for cancellation pursuant to this Section 2.12. The Company may not issue new
Securities to replace Securities it has paid or delivered to the Trustee for cancellation for any
reason other than in connection with a transfer or exchange.

          At such time as all beneficial interests in a Global Security have either been exchanged for
Definitive Securities, transferred, redeemed, repurchased or canceled, such Global Security shall
be returned by DTC to the Trustee for cancellation or retained and canceled by the Trustee. At any
time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for
Definitive Securities, transferred in exchange for an interest in another Global Security,
redeemed, repurchased or canceled, the principal amount of Securities represented by such Global
Security shall be reduced and an adjustment shall be made on the books and records of the Trustee
(if it is then the Securities Custodian for such Global Security) with respect to such Global
Security, by the Trustee or the Securities Custodian, to reflect such reduction.

          SECTION 2.13. Payment of Interest; Defaulted Interest. Interest on any Security which
is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid
to the Person in whose name such Security (or one or more predecessor Securities) is registered at
the close of business on the regular record date for such payment at the office or agency of the
Company maintained for such purpose pursuant to Section 2.3.

          Any interest on any Security which is payable, but is not paid when the same becomes due and
payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable
to the Holder on the regular record date, and such defaulted interest and (to the extent lawful)
interest on such defaulted interest at the rate borne by the Securities (such defaulted interest
and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the
Company, at its election in each case, as provided in clause (a) or (b) below:

     (a) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities (or their respective predecessor Securities) are registered at
the close of business on a Special Record Date (as defined below) for the payment of such
Defaulted Interest, which shall be fixed in the following manner. The Company shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each
Security and the date (not less than 30 days after such notice) of the proposed payment (the
“Special Interest Payment Date”), and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee
for such deposit prior to the date of the proposed payment, such

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money when deposited to be held in trust for the benefit of the Persons entitled to
such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a
record date (the “Special Record Date”) for the payment of such Defaulted Interest,
which date shall be not more than 15 days and not less than 10 days prior to the Special
Interest Payment Date and not less than 10 days after the receipt by the Trustee of the
notice of the proposed payment. The Trustee shall promptly notify the Company of such
Special Record Date and, in the name and at the expense of the Company, shall cause notice
of the proposed payment of such Defaulted Interest and the Special Record Date and Special
Interest Payment Date therefor to be given in the manner provided for under Section
11.2 not less than 10 days prior to such Special Record Date. Notice of the proposed
payment of such Defaulted Interest and the Special Record Date and Special Interest Payment
Date therefor having been so given, such Defaulted Interest shall be paid on the Special
Interest Payment Date to the Persons in whose names the Securities (or their respective
predecessor Securities) are registered at the close of business on such Special Record Date
and shall no longer be payable pursuant to the following clause (b).

     (b) The Company may make payment of any Defaulted Interest in any other lawful manner
not inconsistent with the requirements of any securities exchange on which the Securities
may be listed, and upon such notice as may be required by such exchange, if, after notice
given by the Company to the Trustee of the proposed payment pursuant to this clause, such
manner of payment shall be deemed practicable by the Trustee.

          Subject to the foregoing provisions of this Section, each Security delivered under this
Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such
other Security.

          SECTION 2.14. Computation of Interest. Interest on the Securities will be computed on
the basis of a 360-day year of twelve 30-day months.

          SECTION 2.15. CUSIP, Common Code and ISIN Numbers. The Company in issuing the
Securities may use “CUSIP,” “Common Code” or “ISIN” numbers and, if so, the Trustee shall use
“CUSIP,” “Common Code” or “ISIN” numbers in notices of redemption or purchase as a convenience to
Holders; provided, however, that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities or as contained in any notice of a
redemption or purchase and that reliance may be placed only on the other identification numbers
printed on the Securities, and any such redemption or purchase shall not be affected by any defect
in or omission of such CUSIP, Common Code or ISIN number. The Company shall promptly notify the
Trustee in writing of any change in any CUSIP, Common Code or ISIN number.

ARTICLE III

COVENANTS

          SECTION 3.1. Payment of Securities. The Company shall promptly pay the principal of,
premium, if any, and interest on the Securities on the dates and in the manner

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provided in the Securities and in this Indenture. Principal, premium, if any, and interest shall
be considered paid on the date due if on such date the Trustee or the Paying Agent holds in
accordance with this Indenture immediately available funds sufficient to pay all principal,
premium, if any, and interest then due and the Trustee or the Paying Agent, as the case may be, is
not prohibited from paying such money to the Holders on that date pursuant to the terms of this
Indenture.

          The Company shall pay interest on overdue principal at the rate specified therefor in the
Securities, and it shall pay interest on overdue installments of interest at the same rate to the
extent lawful.

          The Company and any Subsidiary Guarantors will pay any present or future stamp, court or
documentary taxes or any other excise or property taxes, charges or similar levies that arise in
any jurisdiction from the execution, delivery, enforcement or registration of the Securities, the
Subsidiary Guarantees (if any), this Indenture or any other document or instrument in relation
thereof, or the receipt of any payments with respect to the Securities or any Subsidiary
Guarantees, excluding such taxes, charges or similar levies imposed by any jurisdiction outside of
the United States, the jurisdiction of incorporation of any successor of the Company or any
Subsidiary Guarantor or any jurisdiction in which a Paying Agent is located, other than those
resulting from, or required to be paid in connection with, the enforcement of the Securities, the
Subsidiary Guarantees or any other such document or instrument following the occurrence of any
Event of Default with respect to the Securities. The Company or the Subsidiary Guarantors, if any,
will agree to indemnify the Holders for any such taxes paid by such Holders.

          Notwithstanding anything to the contrary contained in this Indenture, the Company or any
Subsidiary Guarantor may, to the extent it is required to do so by law, deduct or withhold income
or other similar taxes imposed by the United States of America from principal, premium or interest
payments hereunder.

          SECTION 3.2. Limitation on Indebtedness. The Company will not, and will not permit
any of its Restricted Subsidiaries to, Incur any Indebtedness (including Acquired Indebtedness);
provided, however, that the Company and the Subsidiary Guarantors may Incur Indebtedness if on the
date thereof the Consolidated Coverage Ratio for the Company and its Restricted Subsidiaries is at
least 2.00 to 1.00.

          The first paragraph of this Section 3.2 will not prohibit the Incurrence of the
following Indebtedness:

     (1) Indebtedness of the Company, any Subsidiary Guarantor or any Restricted Subsidiary
that is a Foreign Subsidiary Incurred pursuant to a Credit Facility in an aggregate amount
up to the greater of (a) $110.0 million and (b) the Borrowing Base;

     (2) Guarantees by (x) the Company or its Subsidiary Guarantors of Indebtedness Incurred
by the Company or a Restricted Subsidiary in accordance with the provisions of this
Indenture, provided that in the event such Indebtedness that is being Guaranteed is a
Subordinated Obligation or a Guarantor Subordinated Obligation, then the related Guarantee
shall be subordinated in right of payment to the Securities or the Subsidiary Guarantee, as
the case may be, and (y) Non-Guarantor Restricted Subsidiaries of

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Indebtedness Incurred by Non-Guarantor Restricted Subsidiaries in accordance with the
provisions of this Indenture;

     (3) Indebtedness of the Company owing to and held by any Restricted Subsidiary or
Indebtedness of a Restricted Subsidiary owing to and held by the Company or any other
Restricted Subsidiary; provided, however,

     (a) if the Company is the obligor on such Indebtedness and a Subsidiary
Guarantor is not the obligee, such Indebtedness is expressly subordinated to the
prior payment in full in cash of all obligations with respect to the Securities;

     (b) if a Subsidiary Guarantor is the obligor on such Indebtedness and the
Company or a Subsidiary Guarantor is not the obligee, such Indebtedness is expressly
subordinated in right of payment to the Subsidiary Guarantees of such Subsidiary
Guarantor; and

     (c) (i) any subsequent issuance or transfer of Capital Stock or any other
event that results in any such Indebtedness being beneficially held by a Person
other than the Company or a Restricted Subsidiary of the Company; and

          (ii) any sale or other transfer of any such Indebtedness to a Person other than the
Company or a Restricted Subsidiary of the Company

shall be deemed, in each case, to constitute an Incurrence of such Indebtedness by the Company or
such Subsidiary, as the case may be.

     (4) Indebtedness represented by (a) the Securities issued on the Issue Date, the
Subsidiary Guarantees and the related Exchange Securities and exchange guarantees issued
pursuant to the Registration Rights Agreement, (b) any Indebtedness (other than the
Indebtedness described in clauses (1) or (4)(a)) outstanding on the Issue Date and (c) any
Refinancing Indebtedness Incurred in respect of Indebtedness described in the first
paragraph of this Section 3.2 or any of clauses (4), (5) and (7);

     (5) Indebtedness of a Restricted Subsidiary Incurred and outstanding on the date on
which such Restricted Subsidiary was acquired by, or merged into, the Company or any
Restricted Subsidiary (whether or not such Indebtedness was Incurred (a) to provide all or
any portion of the funds utilized to consummate the transaction or series of related
transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or
was otherwise acquired by the Company or (b) otherwise in connection with, or in
contemplation of, such acquisition); provided, however, that at the time such Restricted
Subsidiary is acquired by the Company, the Company would have been able to Incur $1.00 of
additional Indebtedness pursuant to the first paragraph of this Section 3.2 after
giving effect to the Incurrence of such Indebtedness pursuant to this clause (5);

     (6) Indebtedness under Hedging Obligations that are Incurred in the ordinary course of
business (and not for speculative purposes) and Obligations in connection with

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cash management and related banking services Incurred in the ordinary course of
business;

     (7) the Incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness
represented by Capitalized Lease Obligations, mortgage financings or purchase money
obligations Incurred pursuant to this clause (7), and Attributable Indebtedness, in an
aggregate principal amount (including all Refinancing Indebtedness Incurred to refund,
defease, renew, extend, refinance or replace any Indebtedness Incurred pursuant to this
clause (7)) not to exceed $15.0 million at any time outstanding, plus an amount equal to the
aggregate of all Attributable Indebtedness Incurred in connection with any Sale/Leaseback
Transaction with respect to Libbey Glass’s distribution center located in Laredo, Texas and
any Sale/Leaseback Transaction to enable the construction and leaseback of office and
related space on land located within the Monterrey, Mexico manufacturing complex owned and
operated by a Restricted Subsidiary of Libbey Glass;

     (8) Indebtedness Incurred in respect of workers’ compensation claims, self-insurance
obligations, letters of credit, performance, surety and similar bonds, warranties,
indemnities and completion guarantees provided by the Company or a Restricted Subsidiary in
the ordinary course of business;

     (9) Indebtedness arising from agreements of the Company or a Restricted Subsidiary
providing for customary guarantees, indemnification, adjustment of purchase price or similar
obligations, in each case, Incurred or assumed in connection with the disposition of any
business, assets or Capital Stock of a Restricted Subsidiary, provided that the maximum
aggregate liability in respect of all such Indebtedness shall at no time exceed the gross
proceeds actually received by the Company and its Restricted Subsidiaries in connection with
such disposition;

     (10) Indebtedness represented by earnout provisions, contingent payments in respect of
purchase price or adjustment of purchase price or similar obligations in acquisition
agreements; provided that this clause (10) shall not extend to Indebtedness Incurred to
finance an earnout or any such obligations or other component of such Investment;

     (11) Indebtedness arising from the honoring by a bank or other financial institution of
a check, draft or similar instrument (except in the case of daylight overdrafts) drawn
against insufficient funds in the ordinary course of business, provided, however, that such
Indebtedness is extinguished within five business days of Incurrence;

     (12) Indebtedness Incurred by Foreign Subsidiaries that are not Subsidiary Guarantors
(other than Libbey Glassware (China) Co., Ltd. or a Restricted Subsidiary that is a Foreign
Subsidiary organized under the laws of the People’s Republic of China) in an aggregate
principal amount, together with all other Indebtedness (including Refinancing Indebtedness)
Incurred pursuant to this clause (12), not to exceed at any time outstanding the greater of
(x) $45.0 million and (y) 10% of Foreign Assets (determined as of the end of the most recent
fiscal quarter immediately preceding the date of such Incurrence);

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     (13) Indebtedness of Libbey Glassware (China) Co., Ltd. or a Restricted Subsidiary that
is a Foreign Subsidiary organized under the laws of the People’s Republic of China Incurred
pursuant to a Credit Facility in an aggregate principal amount, together with all other
Indebtedness Incurred pursuant to this clause (13), not to exceed $50.0 million at any time
outstanding, and any Guarantee of such Indebtedness issued by the Company; and

     (14) in addition to the items referred to in clauses (1) through (13) above,
Indebtedness of the Company or any of its Restricted Subsidiaries in an aggregate principal
amount, together with all other Indebtedness Incurred pursuant to this clause (14), not to
exceed $25.0 million at any time outstanding.

          For purposes of determining compliance with, and the outstanding principal amount of any
particular Indebtedness Incurred pursuant to and in compliance with, this Section 3.2:

     (1) subject to clause (2) below, in the event that Indebtedness meets the criteria of
more than one of the types of Indebtedness described in the first and second paragraphs of
this Section 3.2, the Company, in its sole discretion, will classify such item of
Indebtedness on the date of Incurrence and, may later classify such item of Indebtedness in
any manner that complies with this Section 3.2 and only be required to include the
amount and type of such Indebtedness in one of such clauses;

     (2) all Indebtedness outstanding on the Issue Date under the Senior Secured Credit
Agreement shall be deemed Incurred on the Issue Date under clause (1) of the second
paragraph of this Section 3.2;

     (3) Guarantees of, or obligations in respect of letters of credit relating to,
Indebtedness that is otherwise included in the determination of a particular amount of
Indebtedness shall not be included;

     (4) if obligations in respect of letters of credit are Incurred pursuant to a Credit
Facility and are being treated as Incurred pursuant to clause (1) of the second paragraph
above and the letters of credit relate to other Indebtedness, then such other Indebtedness
shall not be included;

     (5) the principal amount of any Disqualified Stock of the Company or a Restricted
Subsidiary, or Preferred Stock of a Restricted Subsidiary that is not a Subsidiary
Guarantor, will be equal to the greater of the maximum mandatory redemption or repurchase
price (not including, in either case, any redemption or repurchase premium) or the
liquidation preference thereof;

     (6) Indebtedness permitted by this Section 3.2 need not be permitted solely by
reference to one provision permitting such Indebtedness but may be permitted in part by one
such provision and in part by one or more other provisions of this Section 3.2
permitting such Indebtedness;

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     (7) the principal amount of any Indebtedness outstanding in connection with a
securitization transaction is the amount of obligations outstanding under the legal
documents entered into as part of such securitization that would be characterized as
principal on any date of determination if such securitization transaction were structured as
a secured lending transaction; and

     (8) the amount of Indebtedness issued at a price that is less than the principal amount
thereof will be equal to the amount of the liability in respect thereof determined in
accordance with GAAP.

          Accrual of interest, accrual of dividends, the accretion of accreted value, the payment of
interest in the form of additional Indebtedness and the payment of dividends in the form of
additional shares of Preferred Stock or Disqualified Stock will not be deemed to be an Incurrence
of Indebtedness for purposes of this Section 3.2. The amount of any Indebtedness
outstanding as of any date shall be (i) the accreted value thereof in the case of any Indebtedness
issued with original issue discount or the aggregate principal amount outstanding in the case of
Indebtedness issued with interest payable-in-kind and (ii) the principal amount or liquidation
preference thereof, in the case of any other Indebtedness.

          In addition, the Company will not permit any of its Unrestricted Subsidiaries to Incur any
Indebtedness or issue any shares of Disqualified Stock, other than Non Recourse Debt. If at any
time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such
Subsidiary shall be deemed to be Incurred by a Restricted Subsidiary as of such date (and, if the
Incurrence of such Indebtedness as of such date violates this Section 3.2, the Company
shall be in Default of this Section 3.2).

          For purposes of determining compliance with any U.S. dollar denominated restriction on the
Incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated
in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on
the date such Indebtedness was Incurred, in the case of term Indebtedness, or first committed, in
the case of revolving credit Indebtedness; provided that the U.S. dollar-equivalent principal
amount of Indebtedness of Libbey Glassware (China) Co., Ltd. under the Credit Facility to which it
is a party as of the Issue Date shall be calculated based on the relevant currency exchange rate in
effect on the date first committed; and provided further that if any such Indebtedness is Incurred
to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause
the applicable U.S. dollar denominated restriction to be exceeded if calculated at the relevant
currency exchange rate in effect on the date of such refinancing, such U.S. dollar denominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such
refinancing Indebtedness does not exceed the principal amount of such Indebtedness being
refinanced. Notwithstanding any other provision of this Section 3.2, the maximum amount of
Indebtedness that the Company may Incur pursuant to this Section 3.2 shall not be deemed to
be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal
amount of any Indebtedness Incurred to refinance other Indebtedness, if Incurred in a different
currency from the Indebtedness being refinanced, shall be calculated based on the currency
exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated
that is in effect on the date of such refinancing.

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          SECTION 3.3. Limitation on Restricted Payments. The Company will not, and will not
permit any of its Restricted Subsidiaries, directly or indirectly, to:

     (1) declare or pay any dividend or make any distribution (whether made in cash,
securities or other property) on or in respect of its Capital Stock (including any payment
in connection with any merger or consolidation involving the Company or any of its
Restricted Subsidiaries) except:

     (a) dividends or distributions payable in Capital Stock of the Company (other
than Disqualified Stock) or in options, warrants or other rights to purchase such
Capital Stock of the Company; and

     (b) dividends or distributions payable to the Company, any Restricted
Subsidiary or to the holders of common Capital Stock of Restricted Subsidiaries on a
pro rata basis);

     (2) purchase, redeem, retire or otherwise acquire for value any Capital Stock of the
Company or any direct or indirect parent of the Company held by Persons other than the
Company or a Restricted Subsidiary (other than in exchange for Capital Stock of the Company
(other than Disqualified Stock));

     (3) purchase, repurchase, redeem, defease or otherwise acquire or retire for value,
prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment, any
Subordinated Obligations or Guarantor Subordinated Obligations (other than (x) Indebtedness
of the Company owing to and held by any Subsidiary Guarantor or Indebtedness of a Subsidiary
Guarantor owing to and held by the Company or any other Subsidiary Guarantor permitted under
clause (3) of the second paragraph of Section 3.2 or (y) the purchase, repurchase,
redemption, defeasance or other acquisition or retirement of Subordinated Obligations or
Guarantor Subordinated Obligations purchased in anticipation of satisfying a sinking fund
obligation, principal installment or final maturity, in each case due within one year of the
date of purchase, repurchase, redemption, defeasance or other acquisition or retirement); or

     (4) make any Restricted Investment in any Person

(any such dividend, distribution, purchase, redemption, repurchase, defeasance, other acquisition,
retirement or Restricted Investment referred to in clauses (1) through (4) shall be referred to
herein as a “Restricted Payment”), if at the time the Company or such Restricted Subsidiary
makes such Restricted Payment:

     (a) a Default shall have occurred and be continuing (or would result therefrom); or

     (b) the Company is not able to Incur $1.00 of additional Indebtedness pursuant to the
first paragraph of Section 3.2 after giving effect, on a pro forma basis, to such
Restricted Payment; or

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     (c) the aggregate amount of such Restricted Payment and all other Restricted Payments
declared or made subsequent to the Issue Date (excluding Restricted Payments permitted by
clauses (1), (2), (3), (4), (6), (7), (8), (9), (11), (13) and (14) of the next succeeding
paragraph) would exceed the sum of, without duplication:

     (i) 50% of Consolidated Net Income for the period (treated as one accounting period)
from the beginning of the first fiscal quarter commencing after the Issue Date to the end of
the most recent fiscal quarter ending prior to the date of such Restricted Payment for which
financial statements are in existence (or, in case such Consolidated Net Income is a
deficit, minus 100% of such deficit); plus

     (ii) 100% of the aggregate Net Cash Proceeds received by the Company, plus the fair
market value of property other than cash or of marketable securities (such fair market value
to be determined on the date of contractually agreeing to such sale as determined in good
faith by the Board of Directors) received by the Company from the issue or sale of its
Capital Stock (other than Disqualified Stock) or other capital contributions subsequent to
the Issue Date (other than Net Cash Proceeds received from an issuance or sale of such
Capital Stock to a Subsidiary of the Company or an employee stock ownership plan, option
plan or similar trust to the extent such sale to an employee stock ownership plan or similar
trust is financed by loans from or Guaranteed by the Company or any Restricted Subsidiary
unless such loans have been repaid with cash on or prior to the date of determination);

     (iii) the amount by which Indebtedness of the Company or its Restricted Subsidiaries is
reduced on the Company’s balance sheet upon the conversion or exchange (other than by a
Subsidiary of the Company) subsequent to the Issue Date of any Indebtedness of the Company
or its Restricted Subsidiaries convertible or exchangeable for Capital Stock (other than
Disqualified Stock) of the Company or the Parent (less the amount of any cash, or the fair
market value of any other property, distributed by the Company upon such conversion or
exchange);

     (iv) 100% of the Net Cash Proceeds and the fair market value of property other than
cash and marketable securities (such fair market value to be determined in good faith by the
Board of Directors) from the sale or other disposition (other than to the Company or a Note
Guarantor or to an employee stock ownership plan or trust established by the Company or any
Restricted Subsidiary) of Restricted Investments made after the Issue Date and redemptions
and repurchases of such Restricted Investments from the Company or its Restricted
Subsidiaries and repayment of loans or advances from the Company and its Restricted
Subsidiaries (other than in each case to the extent the Restricted Investment was made
pursuant to clause (14) of the next succeeding paragraph);

     (v) to the extent that any Unrestricted Subsidiary of the Company designated as such
after the Issue Date is redesignated as a Restricted Subsidiary or any Unrestricted
Subsidiary of the Company merges into or consolidates with the Company or any of its
Restricted Subsidiaries, in each case after the Issue Date, the fair market value of such
Subsidiary as of the date of such redesignation or such merger or consolidation, or in the
case of the transfer of assets of an Unrestricted Subsidiary to the Company or a Restricted

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Subsidiary, the fair market value of the Investment in such Unrestricted Subsidiary, as
determined by the Board of Directors of the Company in good faith at the time of the
redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary or at the time of
such merger, consolidation or transfer of assets (other than an Unrestricted Subsidiary to
the extent the Investment in such Unrestricted Subsidiary was made by a Restricted
Subsidiary pursuant to clause (14) of the next succeeding paragraph or to the extent such
Investment constituted a Permitted Investment); and

     (vi) 50% of any cash dividends received by the Company or a Restricted Subsidiary of
the Company after the Issue Date from an Unrestricted Subsidiary of the Company, to the
extent that such dividends were not otherwise included in the Consolidated Net Income of the
Company.

     The provisions of the preceding paragraph will not prohibit:

     (1) any Restricted Payment (including Restricted Payments by Libbey Glass or a
Restricted Subsidiary) made by exchange for, or out of the proceeds of the substantially
concurrent sale of, Capital Stock of the Company or the Parent (other than Disqualified
Stock and other than Capital Stock issued or sold to a Subsidiary or an employee stock
ownership plan or similar trust to the extent such sale to an employee stock ownership plan
or similar trust is financed by loans from or Guaranteed by the Company or any Restricted
Subsidiary unless such loans have been repaid with cash on or prior to the date of
determination); provided, however, that the Net Cash Proceeds from such sale of Capital
Stock will be excluded from clause (c)(ii) of the preceding paragraph;

     (2) any purchase, repurchase, redemption, defeasance or other acquisition or retirement
of Subordinated Obligations of the Company or Guarantor Subordinated Obligations of any
Subsidiary Guarantor made by exchange for, or out of the proceeds of the substantially
concurrent sale of, Subordinated Obligations of the Company or any purchase, repurchase,
redemption, defeasance or other acquisition or retirement of Guarantor Subordinated
Obligations made by exchange for or out of the proceeds of the substantially concurrent sale
of Guarantor Subordinated Obligations that, in each case, constitutes Refinancing
Indebtedness;

     (3) any purchase, repurchase, redemption, defeasance or other acquisition or retirement
of Disqualified Stock of the Company or a Restricted Subsidiary made by exchange for or out
of the proceeds of the sale within 60 days of Disqualified Stock of the Company, the Parent
or such Restricted Subsidiary, as the case may be, that, in each case, is permitted to be
Incurred pursuant to Section 3.2 and that in each case constitutes Refinancing
Indebtedness;

     (4) any purchase or redemption of Subordinated Obligations or Guarantor Subordinated
Obligations of a Subsidiary Guarantor from Net Available Cash to the extent permitted under
Section 3.5 below;

     (5) dividends paid within 60 days after the date of declaration if at such date of
declaration such dividend would have complied with this provision;

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     (6) Restricted Payments, cash dividends or loans to the Parent, for the purchase,
redemption or other acquisition, cancellation or retirement for value of Capital Stock, or
options, warrants, equity appreciation rights or other rights to purchase or acquire Capital
Stock, of the Company or any Restricted Subsidiary or any direct or indirect parent of the
Company held by any existing or former directors, officers, employees or consultants of the
Company or the Parent or any Subsidiary of the Company or their assigns, estates or heirs,
in each case in connection with the repurchase provisions under stock option or stock
purchase agreements or other agreements to compensate such Persons; provided that such
redemptions, repurchases or payments pursuant to this clause shall not be permitted with
respect to the compensation or issuance of securities for any services that were not related
to, or for the benefit of, the Company and its Restricted Subsidiaries; provided, further,
that such redemptions or repurchases pursuant to this clause will not exceed $3.0 million in
the aggregate during any calendar year; provided, further, that (x) the Company may carry
over and make in subsequent calendar years, in addition to the $3.0 million amount permitted
for such calendar year, the amount of such purchases, redemptions or other acquisitions or
retirements for value permitted to be made, but not made, in any preceding calendar year, up
to a maximum amount of $8.0 million in any calendar year and (y) the maximum amount in any
calendar year may be increased by the amount of any capital contributions to the Company as
a result of sales of such shares of Capital Stock of the Company or any direct or indirect
parent of the Company to such persons (provided that the Net Cash Proceeds from such sale of
Capital Stock will be excluded from clause (c)(ii) of the preceding paragraph of this
Section 3.3) to the extent not so previously applied, plus the amount of any “key
man” insurance proceeds, received by the Company or any Restricted Subsidiary to the extent
not so previously applied;

     (7) the declaration and payment of dividends to holders of any class or series of
Disqualified Stock of the Company issued in accordance with the terms of this Indenture to
the extent such dividends are included in the definition of “Consolidated Interest Expense”;

     (8) repurchases of Capital Stock deemed to occur upon (x) the exercise of stock
options, warrants or other convertible securities if such Capital Stock represents a portion
of the exercise price thereof or (y) cash dividends or loans to the Parent in amounts
sufficient to pay taxes of directors, officers, employees or consultants relating to the
withholding of a portion of the Capital Stock granted or awarded to a director, officer,
employee or consultant in exchange for the payment of taxes payable by such Person upon such
grant or award;

     (9) cash dividends or loans to the Parent in amounts equal to:

     (a) the amounts required for the Parent to pay any Federal, state or local
income taxes to the extent that such income taxes are directly attributable to the
income of the Company and its Restricted Subsidiaries and, to the extent of amounts
actually received from Unrestricted Subsidiaries, in amounts required to

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pay such taxes to the extent attributable to the income of the Unrestricted
Subsidiaries;

     (b) the amounts required for the Parent to pay franchise taxes and other fees
required to maintain its legal existence; or

     (c) amounts to pay corporate overhead expenses (including professional fees and
expenses payable to third parties) of the Parent Incurred in the ordinary course of
business (including (x) financing transactions (of debt or equity) that benefit, or
are intended to benefit, the Company and its Restricted Subsidiaries and (y) in
connection with reporting obligations under or otherwise in connection with
applicable laws, rules or regulations of any governmental, regulatory or
self-regulatory body or stock exchange, this Indenture or any other agreement or
instrument of Indebtedness of the Parent, the Company or any Restricted Subsidiary),
and to pay salaries, benefits or other compensation of directors, officers,
employees and consultants who perform services for the Parent, the Company or any
Restricted Subsidiary, including with respect to any financing transaction to pay
such expenses on an interim basis so long as such expenses are repaid out of the
proceeds of such transaction upon completion of such transaction;

     (10) the purchase, repurchase, redemption, defeasance or other acquisition or
retirement for value of any Subordinated Obligation (i) at a purchase price not greater than
101% of the principal amount of such Subordinated Obligation in the event of a Change of
Control in accordance with provisions similar to Section 3.11 or (ii) at a purchase
price not greater than 100% of the principal amount thereof in accordance with provisions
similar to Section 3.5; provided that, prior to or simultaneously with such
purchase, repurchase, redemption, defeasance or other acquisition or retirement, the Company
has made the Change of Control Offer or Asset Disposition Offer, as applicable, as provided
in such covenant with respect to the Securities and has completed the repurchase or
redemption of all Securities validly tendered for payment in connection with such Change of
Control Offer or Asset Disposition Offer;

     (11) the repurchase or redemption of the Company’s or the Parent’s preferred stock
purchase rights, or any substitute therefor, in an aggregate amount not to exceed the
product of (x) the number of outstanding shares of Common Stock of the Parent and (y) $0.01
per share, as such amount may be adjusted in accordance with any rights agreement relating
to the Parent Common Stock;

     (12) so long as no Event of Default exists and has not been cured or waived, cash
dividends or loans to the Parent in amounts required for the Parent to declare and pay cash
dividends on Parent Common Stock in an amount not to exceed $0.20 per share in any fiscal
year, which amount will be reduced to reflect any subdivision of the Parent Common Stock by
means of a stock split, stock dividend or otherwise;

     (13) the repurchase, redemption or other acquisition for value of Capital Stock of the
Company or any direct or indirect parent of the Company representing fractional shares of
such Capital Stock in connection with a merger, consolidation, amalgamation or

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other combination involving the Company or any direct or indirect parent of the
Company; and

          (14) Restricted Payments in an amount not to exceed $15.0 million;

provided, however, that at the time of and after giving effect to any Restricted Payment permitted
under clause (4), (7) or (14), no Default shall have occurred and be continuing or would occur as a
consequence thereof.

          The amount of all Restricted Payments (other than cash) shall be the fair market value on the
date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred or
issued by the Company or such Restricted Subsidiary, as the case may be, pursuant to such
Restricted Payment. The fair market value of any cash Restricted Payment shall be its face amount
and any non-cash Restricted Payment shall be determined conclusively by the Board of Directors of
the Company acting in good faith, whose resolution with respect thereto shall be delivered to the
Trustee. Not later than the date of making any Restricted Payment, the Company shall deliver to
the Trustee an Officers’ Certificate stating that such Restricted Payment is permitted and setting
forth the basis upon which the calculations required by this Section 3.3 were computed.

          SECTION 3.4. Limitation on Restrictions on Distributions from Restricted Subsidiaries.
The Company will not, and will not permit any Restricted Subsidiary to, create or otherwise cause
or permit to exist or become effective any consensual encumbrance or consensual restriction on the
ability of any Restricted Subsidiary to:

     (1) pay dividends or make any other distributions on its Capital Stock or pay any
Indebtedness or other obligations owed to the Company or any Restricted Subsidiary (it being
understood that the priority of any Preferred Stock in receiving dividends or liquidating
distributions prior to dividends or liquidating distributions being paid on Common Stock
shall not be deemed a restriction on the ability to make distributions on Capital Stock);

     (2) make any loans or advances to the Company or any Restricted Subsidiary (it being
understood that the subordination of loans or advances made to the Company or any Restricted
Subsidiary to other Indebtedness Incurred by the Company or any Restricted Subsidiary shall
not be deemed a restriction on the ability to make loans or advances); or

     (3) transfer any of its property or assets to the Company or any Restricted Subsidiary
(it being understood that such transfers shall not include any type of transfer described in
clause (1) or (2) above).

     The provisions of the preceding paragraph will not prohibit:

     (i) any encumbrance or restriction pursuant to an agreement in effect at or entered
into on the Issue Date, including, without limitation, this Indenture, the Securities, the
Exchange Securities, the Subsidiary Guarantees, the Collateral Documents, the Intercreditor

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Agreement and the Senior Secured Credit Agreement (and related documentation)
in effect on such date;

     (ii) any encumbrance or restriction with respect to a Person pursuant to an agreement
relating to any Capital Stock or Indebtedness Incurred by such Person on or before the date
on which such Person became a Restricted Subsidiary or was acquired by, merged into or
consolidated with the Company or a Restricted Subsidiary (other than Capital Stock or
Indebtedness Incurred as consideration in, or to provide all or any portion of the funds
utilized to consummate, the transaction or series of related transactions pursuant to which
such Person became a Restricted Subsidiary or was acquired by, merged into or consolidated
with the Company or in contemplation of the transaction) and outstanding on such date,
provided that any such encumbrance or restriction shall not extend to any assets or property
of the Company or any other Restricted Subsidiary other than the assets and property so
acquired and that, in the case of Indebtedness, was permitted to be Incurred pursuant to
this Indenture;

     (iii) any encumbrance or restriction pursuant to an agreement effecting a refunding,
replacement or refinancing of Indebtedness Incurred pursuant to an agreement referred to in
clause (i) or (ii) of this paragraph or this clause (iii) or contained in any amendment,
restatement, modification, renewal, supplement, refunding, replacement or refinancing of an
agreement referred to in clause (i) or (ii) of this paragraph or this clause (iii);
provided, however, that the encumbrances and restrictions with respect to such Restricted
Subsidiary contained in any such agreement are no less favorable in any material respect,
taken as a whole, to the Holders of the Securities than the encumbrances and restrictions
contained in such agreements referred to in clause (i) or (ii) of this paragraph on the
Issue Date or the date such Restricted Subsidiary became a Restricted Subsidiary or was
merged into a Restricted Subsidiary, whichever is applicable;

     (iv) in the case of clause (3) of the first paragraph of this Section 3.4,
Liens permitted to be incurred under the provisions of Section 3.6;

     (v) (a) purchase money obligations or mortgage financings for property acquired in the
ordinary course of business and (b) Capitalized Lease Obligations permitted under this
Indenture, in each case, that impose encumbrances or restrictions of the nature described in
clause (3) of the first paragraph of this Section 3.4 on the property so acquired;

     (vi) any restriction with respect to a Restricted Subsidiary (or any of its property or
assets) imposed pursuant to an agreement entered into for the direct or indirect sale or
disposition of the Capital Stock or assets of such Restricted Subsidiary (or the property or
assets that are subject to such restriction) pending the closing of such sale or
disposition;

     (vii) any customary provisions relating to the disposition or distribution of assets or
property in joint venture agreements, asset sales agreements, stock sale agreements and
other similar agreements entered into in the ordinary course of business;

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     (viii) net worth provisions in leases and other agreements and provisions restricting
cash or other deposits in agreements entered into by the Company or any Restricted
Subsidiary in the ordinary course of business;

     (ix) encumbrances or restrictions arising or existing by reason of applicable law or
any applicable rule, regulation or order;

     (x) encumbrances or restrictions contained in indentures or debt instruments or other
debt arrangements Incurred or Preferred Stock issued by Subsidiary Guarantors in accordance
with Section 3.2, that are not more restrictive, taken as a whole, than those
applicable to the Company in either this Indenture or the Senior Secured Credit Agreement on
the Issue Date (which results in encumbrances or restrictions comparable to those applicable
to the Company at a Restricted Subsidiary level);

     (xi) encumbrances or restrictions contained in indentures or other debt instruments or
debt arrangements Incurred or Preferred Stock issued by Restricted Subsidiaries that are not
Subsidiary Guarantors subsequent to the Issue Date pursuant to clauses (5), (12), (13) or
(14) of the second paragraph of Section 3.2; provided that such encumbrances and
restrictions contained in any agreement or instrument will not materially affect the
Company’s ability to make anticipated principal or interest payments on the Securities (as
determined by the Board of Directors of the Company);

     (xii) encumbrances or restrictions contained in customary non-assignment provisions in
leases, contracts, licenses or other agreements entered into in the ordinary course of
business; and

     (xiii) encumbrances or restrictions arising or agreed to in the ordinary course of
business, not relating to Indebtedness, that do not, individually or in the aggregate,
detract from the value of property or assets of Libbey Glass or any Restricted Subsidiary
thereof in any manner material to Libbey Glass or any Restricted Subsidiary.

          SECTION 3.5. Limitation on Sales of Assets and Subsidiary Stock. The Company will
not, and will not permit any of its Restricted Subsidiaries to, make any Asset Disposition unless:

     (1) the Company or such Restricted Subsidiary, as the case may be, receives
consideration at least equal to the fair market value (such fair market value to be
determined on the date of contractually agreeing to such Asset Disposition), as determined
in good faith by the Board of Directors (including as to the value of all non-cash
consideration), of the shares and assets subject to such Asset Disposition;

     (2) except for any Permitted Asset Swap, at least 75% of the consideration from such
Asset Disposition received by the Company or such Restricted Subsidiary, as the case may be,
is in the form of cash or Cash Equivalents;

     (3) if such Asset Disposition involves the disposition of Notes Priority Collateral or,
after the Discharge of Credit Agreement Obligations, the disposition of Credit

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Agreement Priority Collateral, the Net Available Cash from such Asset Disposition, pending application
in accordance with the provisions described under clause (4) below, shall be paid directly
by the purchaser of such Collateral to the Collateral Agent for deposit into the Collateral
Account, and any portion of the consideration therefor other than cash or Cash Equivalents
shall be made subject to the Lien of this Indenture and the applicable Collateral Documents;
and

     (4) an amount equal to 100% of the Net Available Cash from such Asset Disposition is
applied by the Company or such Restricted Subsidiary, as the case may be:

     (a) to the extent such Net Available Cash constitute proceeds from the sale of
Credit Agreement Priority Collateral, to repay Indebtedness under the Credit
Agreement secured by such Credit Agreement Priority Collateral within 365 days from
the later of the date of such Asset Disposition or the receipt of such Net Available
Cash;

     (b) to the extent such Net Cash Proceeds constitutes proceeds from the sale of
Notes Priority Collateral, to permanently repay, equally and ratably, the notes and
any Pari Passu Secured Indebtedness, within 365 days from the later of the date of
such Asset Disposition or the receipt of such Net Available Cash;

     (c) to permanently reduce obligations under other Indebtedness secured by a
Lien (provided that if Libbey Glass or any Note Guarantor shall so reduce such
obligations, Libbey Glass will equally and ratably reduce obligations under the
notes and any Pari Passu Secured Indebtedness if the notes and such Pari Passu
Secured Indebtedness are then prepayable or, if the notes may not then be prepaid,
by making an offer (in accordance with the procedures set forth below for an Asset
Disposition Offer) to all holders to purchase at a purchase price equal to 100% of
the principal amount thereof, plus accrued and unpaid interest and additional
interest, if any, the pro rata principal amount of notes that would otherwise be
prepaid) or Indebtedness of a Non-Guarantor Restricted Subsidiary, in each case
other than Indebtedness owed to Libbey Glass or an Affiliate of Libbey Glass within
365 days from the later of the date of such Asset Disposition or the receipt of such
Net Available Cash; or

     (d) to invest in Additional Assets within 365 days from the later of the date
of such Asset Disposition or the receipt of such Net Available Cash; provided,
however, that with respect to Asset Dispositions of Notes Priority Collateral, such
Additional Assets are added to the Notes Priority Collateral with the exception of
Net Available Cash not to exceed $15.0 million that is invested in Additional Assets
of Non-Guarantor Restricted Subsidiaries;

provided that pending the final application of any such Net Available Cash in accordance
with clauses (a) through (d) above, the Company and its Restricted Subsidiaries may
temporarily reduce Indebtedness or otherwise invest such Net Available Cash in any manner
not prohibited by this Indenture; provided further that in the case of an Asset

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Disposition of Notes Priority Collateral, any cash will be deposited in accordance with clause (3)
above.

          Any Net Available Cash from Asset Dispositions that are not applied or invested as provided in
the preceding paragraph will be deemed to constitute “Excess Proceeds.” To the extent that
the aggregate amount of Excess Proceeds exceeds $20.0 million on the 366th day after an Asset
Disposition, the Company will be required to make an offer (“Asset Disposition Offer”) to
all Holders of Securities and to the extent required by the terms of other Pari Passu Secured
Indebtedness, to all holders of other Pari Passu Secured Indebtedness outstanding with similar
provisions requiring the Company to make an offer to purchase such Pari Passu Secured Indebtedness
with the proceeds from any Asset Disposition (“Pari Passu Notes”), to purchase the maximum
principal amount of Securities and any such Pari Passu Notes to which the Asset Disposition Offer
applies that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount
equal to 100% of the principal amount of the Securities and Pari Passu Notes plus accrued and
unpaid interest to the date of purchase, in accordance with the procedures set forth in this
Indenture or the agreements governing the Pari Passu Notes, as applicable, and in compliance with
the Intercreditor Agreement in each case in integral multiples of $1,000. To the extent that the
aggregate amount of Securities and Pari Passu Notes so validly tendered and not properly withdrawn
pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Company may use any
remaining Excess Proceeds for general corporate purposes, subject to other covenants contained in
this Indenture. If the aggregate principal amount of Securities surrendered by Holders thereof and
other Pari Passu Notes surrendered by holders or lenders, collectively, exceeds the amount of
Excess Proceeds, the Trustee shall select the Securities and Pari Passu Notes to be purchased on a
pro rata basis on the basis of the aggregate principal amount of tendered Securities and Pari Passu
Notes. Upon completion of such Asset Disposition Offer, the amount of Excess Proceeds shall be
reset at zero.

          The Asset Disposition Offer will remain open for a period of 20 Business Days following its
commencement, except to the extent that a longer period is required by applicable law (the
“Asset Disposition Offer Period”). The Company will mail a notice of an Asset Disposition
Offer first class, postage prepaid, to the record holders shown on the register of Holders within
20 days following the 366th day referred to in the second paragraph of this Section 3.5
with a copy to the Trustee, offering to purchase the Securities and Pari Passu Notes as described
above. Each notice of an Asset Disposition Offer shall state, among other things, the purchase
date, which must be no earlier than 30 days nor later than 60 days from the date the notice is
mailed, subject to applicable law (the “Asset Disposition Purchase Date”). No later than
five Business Days after the termination of the Asset Disposition Offer Period, the Company will
purchase the principal amount of Securities and Pari Passu Notes required to be purchased pursuant
to this Section 3.5 (the “Asset Disposition Offer Amount”) or, if less than the
Asset Disposition Offer Amount has been so validly tendered, all Securities and Pari Passu Notes
validly tendered in response to the Asset Disposition Offer.

          If the Asset Disposition Purchase Date is on or after an interest record date and on or before
the related interest payment date, any accrued and unpaid interest will be paid to the Person in
whose name a Security is registered at the close of business on such record date, and

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no additional interest will be payable to Holders who tender Securities pursuant to the Asset Disposition Offer.

          On or before the Asset Disposition Purchase Date, the Company will, to the extent lawful,
accept for payment, on a pro rata basis to the extent necessary, the Asset Disposition Offer Amount
of Securities and Pari Passu Notes or portions of Securities and Pari Passu Notes so validly
tendered and not properly withdrawn pursuant to the Asset Disposition Offer, or if less than the
Asset Disposition Offer Amount has been validly tendered and not properly withdrawn, all Securities
and Pari Passu Notes so validly tendered and not properly withdrawn, in each case in integral
multiples of $1,000. The Company will deliver to the Trustee an Officers’ Certificate stating that
such Securities or portions thereof were accepted for payment by the Company in accordance with the
terms of this Section 3.5 and, in addition, the Company will deliver all certificates and
securities required, if any, by the agreements governing the Pari Passu Notes. The Company or the
Paying Agent, as the case may be, will promptly (but in any case not later than five Business Days
after the Asset Disposition Purchase Date) mail or deliver to each tendering Holder of Securities
or holder or lender of Pari Passu Notes, as the case may be, an amount equal to the purchase
price of the Securities or Pari Passu Notes so validly tendered and not properly withdrawn by
such holder or lender, as the case may be, and accepted by the Company for purchase, and the
Company will promptly issue a new Security, and the Trustee, upon delivery of an Officers’
Certificate from the Company, will authenticate and mail or deliver such new Security to such
Holder, in a principal amount equal to any unpurchased portion of the Security surrendered;
provided that each such new Security will be in a principal amount of $2,000 or an integral
multiple of $1,000 in excess thereof. In addition, the Company will take any and all other actions
required by the agreements governing the Pari Passu Notes. Any Security not so accepted will be
promptly mailed or delivered by the Company to the Holder thereof. The Company will publicly
announce the results of the Asset Disposition Offer on the Asset Disposition Purchase Date.

          For the purposes of clause (2) of this Section 3.5, the following will be deemed to be
cash:

     (1) any liabilities as shown on the most recent consolidated balance sheet of the
Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that
are by their terms subordinated to the Securities) that are assumed by the transferee of any
such assets pursuant to a customary novation agreement that releases the Company or such
Restricted Subsidiary from further liability;

     (2) any securities, notes or other obligations received by the Company or any such
Restricted Subsidiary from such transferee that are converted by the Company or such
Restricted Subsidiary into cash, to the extent of the cash received in that conversion, with
180 days following the closing of such Asset Disposition; and

     (3) any Designated Non-cash Consideration received by Libbey Glass or any Restricted
Subsidiary in such Asset Disposition having an aggregate fair market value, taken together
with all other Designated Non-cash Consideration received pursuant to this clause (3) that
is at the time outstanding, not to exceed $15.0 million at the time of the receipt of such
Designated Non-cash Consideration, with the fair market value of

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each item of Designated Non-cash Consideration being measured at the time received and without giving effect to
subsequent changes in value.

          The Company will comply, to the extent applicable, with the requirements of Rule 14e-1 under
the Exchange Act and any other securities laws or regulations in connection with the repurchase of
Securities pursuant to this Indenture. To the extent that the provisions of any securities laws or
regulations conflict with provisions of this Section 3.5, the Company will comply with the
applicable securities laws and regulations and will not be deemed to have breached its obligations
under this Indenture by virtue of any conflict.

          SECTION 3.6. Limitation on Liens. The Company will not, and will not permit any of
its Restricted Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any Lien
(other than Permitted Liens) upon any of its property or assets (including Capital Stock of
Restricted Subsidiaries), whether owned on the Issue Date or acquired after that date, other than:

     (1) in the case of Liens on any Notes Priority Collateral, any Lien if (i) such Lien
ranks expressly junior in priority to the Lien securing the Securities with respect to such
Notes Priority Collateral; or (ii) such Lien is a Permitted Lien; and

     (2) in the case of any other asset or property, any Lien if (i) the Securities are
equally and ratably secured with (or, in the case such Lien secures any Subordinated
Obligations the Securities are secured on a senior basis to) the Obligations secured by such
Lien or (ii) such Lien is a Permitted Lien.

          In addition, if the Company or any Subsidiary Guarantor, directly or indirectly, shall create,
Incur or suffer to exist any Lien (other than Permitted Liens) securing any Lenders Debt, the
Company or such Subsidiary Guarantor, as the case may be, must concurrently grant at least a
second-priority Lien in the case of assets constituting ABL Priority Collateral or a first-priority
Lien in the case of assets constituting Notes Priority Collateral upon such property as security
for the Securities, excluding any Foreign Assets or Capital Stock which by the terms of the
Collateral Documents are expressly permitted to be subject to a Lien securing Lenders Debt without
also being subject to a Lien securing the Indebtedness due under this Indenture and the Securities.

          SECTION 3.7. [Reserved].

          SECTION 3.8. Limitation on Affiliate Transactions. The Company will not, and will not
permit any of its Restricted Subsidiaries to, directly or indirectly, enter into or conduct any
transaction (including the purchase, sale, lease or exchange of any property or the rendering of
any service) involving aggregate consideration in excess of $2.5 million with any Affiliate of the
Company (an “Affiliate Transaction”) unless:

     (1) the terms of such Affiliate Transaction are no less favorable to the Company or
such Restricted Subsidiary, as the case may be, than those that could be obtained in a
comparable transaction at the time of such transaction in arm’s-length dealings with a
Person who is not such an Affiliate;

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     (2) in the event such Affiliate Transaction involves an aggregate consideration in
excess of $10.0 million, the terms of such transaction have been approved by a majority of
the members of the Board of Directors of the Company and by a majority of the members of
such Board having no personal stake in such transaction, if any (and such majority or
majorities, as the case may be, determines that such Affiliate Transaction satisfies the
criteria in clause (1) above); and

     (3) in the event such Affiliate Transaction involves an aggregate consideration in
excess of $25.0 million, the Company has received a written opinion from an independent
investment banking, accounting or appraisal firm of nationally recognized standing that such
Affiliate Transaction is not materially less favorable than those that might reasonably have
been obtained in a comparable transaction at such time on an arm’s-length basis from a
Person that is not an Affiliate.

The preceding paragraph will not apply to:

     (1) any Restricted Payment (other than a Restricted Investment) permitted to be made
pursuant to Section 3.3;

     (2) any issuance of securities, or other payments, awards or grants in cash, securities
or otherwise pursuant to, or the funding of, employment agreements and other compensation
arrangements, options to purchase Capital Stock of the Company restricted stock plans,
long-term incentive plans, stock appreciation rights plans, participation plans or similar
employee benefits plans, pension plans or similar plans and/or indemnity provided on behalf
of current or former directors, officers and employees approved by the Board of Directors of
the Company;

     (3) loans or advances to employees, officers or directors of the Company or any
Restricted Subsidiary of the Company in the ordinary course of business consistent with past
practices, in an aggregate amount outstanding at any time not in excess of $5.0 million
(without giving effect to the forgiveness of any such loan);

     (4) any transaction between the Company and a Restricted Subsidiary or between
Restricted Subsidiaries and any Guarantees issued by the Company or a Restricted Subsidiary
for the benefit of the Company or a Restricted Subsidiary, as the case may be, in accordance
with Section 3.2;

     (5) the payment of reasonable and customary fees paid to, and indemnity provided on
behalf of, current, former and future directors of the Company or any Restricted Subsidiary;

     (6) the existence of, and the performance of obligations of the Company or any of its
Restricted Subsidiaries under the terms of any agreement to which the Company or any of its
Restricted Subsidiaries is a party as of or on the Issue Date, as these agreements may be
amended, modified, supplemented, extended or renewed from time to time; provided, however,
that any future amendment, modification, supplement, extension or renewal entered into after
the Issue Date will be permitted to the extent that its

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terms are not more disadvantageous
to the Holders of the Securities than the terms of the agreements in effect on the Issue
Date;

     (7) transactions with customers, clients, suppliers or purchasers or sellers of goods
or services, in each case in the ordinary course of the business of the Company and its
Restricted Subsidiaries and otherwise in compliance with the terms of this Indenture;
provided that in the reasonable determination of the members of the Board of Directors or
senior management of the Company, such transactions are on terms that are no less favorable
to the Company or the relevant Restricted Subsidiary than those that would have been
obtained in a comparable transaction by the Company or such Restricted Subsidiary with an
unrelated Person;

     (8) any issuance or sale of Capital Stock (other than Disqualified Stock) to Affiliates
of the Company and the granting and performance of registration and other customary rights
in connection therewith;

     (9) transactions with a Person that is an Affiliate of Libbey Glass solely because
Libbey Glass, directly or indirectly, owns Capital Stock of, or controls, such Person;

     (10) transactions with Affiliates solely in their capacity as holders of the
Indebtedness or Capital Stock of Libbey Glass or any of its Subsidiaries, so long as such
transaction is with all holders of such class (and there are such non-Affiliate holders) and
such Affiliates are treated no more favorably than all other holders of such class
generally;

     (11) any contribution to the common equity capital of Libbey Glass;

     (12) the pledge of Capital Stock of any Unrestricted Subsidiary to lenders to support
the Indebtedness of such Unrestricted Subsidiary owed to such lenders;

     (13) payments by Libbey Glass or any of its Restricted Subsidiaries pursuant to any tax
sharing, allocation or similar agreement; and

     (14) transactions permitted by, and complying with, the provisions of Section
4.1.

          SECTION 3.9. Limitation on Sale of Capital Stock of Restricted Subsidiaries. The
Company will not, and will not permit any Restricted Subsidiary to, transfer, convey, sell, lease
or otherwise dispose of any Voting Stock of any Restricted Subsidiary or to issue any of the Voting
Stock of a Restricted Subsidiary (other than, if necessary, shares of its Voting Stock constituting
directors’ qualifying shares) to any Person except:

     (1) to the Company or a Wholly Owned Subsidiary; or

     (2) in compliance with Section 3.5 and immediately after giving effect to such
issuance or sale, such Restricted Subsidiary either continues to be a Restricted Subsidiary
or if such Restricted Subsidiary would no longer be a Restricted Subsidiary, then the

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Investment of the Company in such Person (after giving effect to such issuance or sale)
would have been permitted to be made under Section 3.3 as if made on the date of
such issuance or sale.

          Notwithstanding the preceding paragraph, the Company and any Restricted Subsidiary may sell
all the Voting Stock of a Restricted Subsidiary as long as the Company and its Restricted
Subsidiaries comply with the terms of Section 3.5.

          SECTION 3.10. Limitation on Lines of Business. The Company will not, and will not
permit any Restricted Subsidiary to, engage in any business other than a Related Business.

          SECTION 3.11. Change of Control. If a Change of Control occurs, each Holder shall
have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral
multiple of $1,000 in excess thereof) of such Holder’s Securities at a purchase price in cash equal
to 101% of the principal amount of the Securities plus accrued and unpaid interest, if any, to the
date of purchase (subject to the right of Holders of record on the relevant record date to receive
interest due on the relevant interest payment date).

          Within 30 days following any Change of Control, the Company shall mail a notice (the
“Change of Control Offer”) to each Holder, with a copy to the Trustee, stating:

     (1) that a Change of Control has occurred and that such Holder has the right to require
the Company to purchase such Holder’s Securities at a purchase price in cash equal to 101%
of the principal amount of such Securities plus accrued and unpaid interest, if any, to the
date of purchase (subject to the right of Holders of record on a record date to receive
interest on the relevant interest payment date) (the “Change of Control Payment”);

     (2) the repurchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is mailed) (the “Change of Control Payment Date”); and

     (3) the procedures determined by the Company, consistent with this Indenture, that a
Holder must follow in order to have its Securities repurchased.

     On the Change of Control Payment Date, the Company shall, to the extent lawful:

     (1) accept for payment all Securities or portions of Securities (in minimum
denominations of $2,000 or integral multiples of $1,000 in excess thereof) properly tendered
pursuant to the Change of Control Offer;

     (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Securities or portions of Securities so tendered; and

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     (3) deliver or cause to be delivered to the Trustee the Securities so accepted together
with an Officers’ Certificate stating the aggregate principal amount of Securities or
portions of Securities being purchased by the Company.

          The Paying Agent shall promptly mail to each Holder of Securities so tendered the Change of
Control Payment for such Securities, and the Trustee shall promptly authenticate and mail (or cause
to be transferred by book entry) to each Holder a new Security equal in principal amount to any
unpurchased portion of the Securities surrendered, if any; provided that each such new Security
shall be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof.

          If the Change of Control Payment Date is on or after an interest record date and on or before
the related interest payment date, any accrued and unpaid interest, if any, will be paid to the
Person in whose name a Security is registered at the close of business on such record date, and no
additional interest shall be payable to Holders who tender pursuant to the Change of Control Offer.

          The Company will publicly announce the results of the Change of Control Offer on or as soon as
practicable after the Change of Control Payment Date.

          The Company will not be required to make a Change of Control Offer upon a Change of Control if
(i) a third party makes the Change of Control Offer in the manner, at the times and otherwise in
compliance with the requirements set forth in this Indenture applicable to a Change of Control
Offer made by the Company and purchases all Securities validly tendered and not withdrawn under
such Change of Control Offer or (ii) a notice of redemption has been given pursuant to Article
V of this Indenture, unless and until there is a default in payment of the applicable
redemption price.

          The Company shall comply, to the extent applicable, with the requirements of Rule 14e-1 under
the Exchange Act and any other securities laws or regulations thereunder in connection with the
repurchase of Securities pursuant to this Section 3.11. To the extent that the provisions
of any securities laws or regulations conflict with provisions of this Indenture, the Company shall
comply with the applicable securities laws and regulations and shall not be deemed to have breached
its obligations described in this Indenture by virtue of the conflict.

          SECTION 3.12. SEC Reports. Notwithstanding that the Company may not be subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act, to the extent permitted by the
Exchange Act, the Company will file with the SEC, and make available to the Trustee and the
registered Holders of the Securities:

     (1) all quarterly and annual financial information that would be required to be
contained in a filing with the SEC on Forms 10-Q and 10-K if the Company were required to
file such Forms, including a “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” and, with respect to the annual information only, a report on the
annual financial statements by the Company’s certified independent accountants; and

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     (2) all current reports that would be required to be filed with the SEC on Form 8-K if
the Company were required to file such reports.

          In the event that the Company is not permitted to file such reports, documents and information
with the SEC pursuant to the Exchange Act, the Company will nevertheless make available such
Exchange Act information to the Trustee and the Holders of the Securities as if the Company were
subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act (a) in the case of
quarterly reports, within 15 days after the time period specified in the SEC’s rules and
regulations and (b) in the case of annual reports, within 30 days after the time period specified
in the SEC’s rules and regulations; provided that the Company shall not be required to furnish any
information, certifications or reports required by Items 307 or 308 of Regulation S-K prior to the
commencement of the Exchange Offer or the effectiveness of the Shelf Registration Statement.

          If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries, then the
quarterly and annual financial information required by the preceding paragraph shall include a
reasonably detailed presentation, either on the face of the financial statements or in the
footnotes to the financial statements and in Management’s Discussion and Analysis of Financial
Condition and Results of Operations, of the financial condition and results of operations of the
Company and its Restricted Subsidiaries.

          In addition, the Company and the Guarantors have agreed that they will make available to the
Holders and to prospective investors, upon the request of such Holders, the information required to
be delivered pursuant to Rule 144A(d)(4) under the Securities Act so long as the Securities are not
freely transferable under the Securities Act. For purposes of this Section 3.12,
the Company and the Note Guarantors will be deemed to have furnished the reports to the Trustee and
the Holders of Securities as required by this Section 3.12 if it has filed such reports
with the SEC via the EDGAR filing system and such reports are publicly available.

          The filing requirements set forth above for the applicable period shall be deemed satisfied by
the Company prior to the commencement of the Exchange Offer or the effectiveness of the Shelf
Registration Statement by the filing with the SEC of the exchange offer registration statement
and/or Shelf Registration Statement, and any amendments thereto, with such financial information
that satisfies Regulation S-X of the Securities Act; provided that this paragraph shall not
supersede or in any manner suspend or delay the Company’s reporting obligations set forth in the
first three paragraphs of this Section 3.12.

          The Parent may satisfy the obligations of the Company set forth above; provided that (x) the
financial information filed with the SEC or delivered to Holders pursuant to this covenant should
include consolidating financial statements for the Parent, the Company, the Subsidiary Guarantors
and the Subsidiaries that are not Subsidiary Guarantors in the form prescribed by the SEC and (y)
the Parent is not engaged in any business in any material respect other than incidental to its
ownership, directly or indirectly, of the Company.

          SECTION 3.13. Future Subsidiary Guarantors. The Company will cause each Restricted
Subsidiary that Guarantees, on the Issue Date or any time thereafter, any Indebtedness of the
Company or any Subsidiary Guarantor to execute and deliver to the Trustee a supplemental

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indenture pursuant to which such Restricted Subsidiary will unconditionally Guarantee, on a joint and several
basis, the full and prompt payment of the principal of, premium, if any, and interest (including
Additional Interest, if any) in respect of the Securities on a senior secured basis and all other
obligations under this Indenture. Each Restricted Subsidiary that becomes a Subsidiary Guarantor
after the Issue Date will also become a party to the Collateral Documents and the Intercreditor
Agreement and will take such actions as are necessary or advisable to grant to the Collateral Agent for
the benefit of the Trustee, the Collateral Agent and the Holders of the Securities a perfected and
at least second-priority security interest in any Collateral held by such Restricted Subsidiary,
subject to Permitted Liens. Notwithstanding the foregoing, in the event (a) a Subsidiary Guarantor
is released and discharged in full from all of its obligations under its Guarantee of (1) Lenders
Debt and (2) all other Indebtedness of the Company and its Restricted Subsidiaries, including a
Guarantee under the indenture governing the Private Placement Notes, and (b) such Subsidiary
Guarantor has not Incurred any Indebtedness in reliance on its status as a Subsidiary Guarantor
under Section 3.2 or such Subsidiary Guarantor’s obligations under such Indebtedness are
satisfied in full and discharged or are otherwise permitted to be Incurred by a Restricted
Subsidiary (other than a Subsidiary Guarantor) under the second paragraph of Section 3.2,
then the Subsidiary Guarantee and the obligations of such Subsidiary Guarantor under the Collateral
Documents and Intercreditor Agreement of such Subsidiary Guarantor shall be automatically and
unconditionally released or discharged.

          SECTION 3.14. Maintenance of Office or Agency. The Company shall maintain an office
or agency where the Securities may be presented or surrendered for payment, where, if applicable,
the Securities may be surrendered for registration of transfer or exchange and where notices and
demands to or upon the Company in respect of the Securities and this Indenture may be served. The
agency of The Bank of New York Mellon Trust Company, N.A. (the “Agent”), currently located
at 101 Barclay Street, New York, NY 10286, Attention: Global Corporate Trust (or at such address
in the Borough of Manhattan, The City of New York as the Agent shall designate upon request
therefor from the Company or any Holder), shall be such office or agency of the Company, unless the
Company shall designate and maintain some other office or agency for one or more of such purposes.
The Company shall give prompt written notice to the Trustee of any change in the location of any
such office or agency. If at any time the Company shall fail to maintain any such required office
or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Agent of the Trustee, and the Company
hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and
demands.

          The Company may also from time to time designate one or more other offices or agencies where
the Securities may be presented or surrendered for any or all such purposes and may from time to
time rescind any such designation. The Company shall give prompt written notice to the Trustee of
any such designation or rescission and any change in the location of any such other office or
agency.

          SECTION 3.15. Corporate Existence. Except as otherwise provided in Article
III, Article IV and Section 10.2(b), the Company shall do or cause to be done
all things necessary to preserve and keep in full force and effect its corporate existence and the
corporate, partnership, limited liability company or other existence of each Subsidiary Guarantor, if any, in accordance

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with their respective organizational documents (as the same may be amended
from time to time) and the rights (charter and statutory) licenses and franchises of the Company
and each such Subsidiary Guarantor; provided, however, that the Company shall not be required to
preserve any such right, license or franchise or the corporate, partnership, limited liability
company or other existence of any Subsidiary Guarantor if the Board of Directors of the Company
shall determine that the preservation thereof is no longer desirable in the conduct of the business
of the Company and each of its Restricted Subsidiaries, taken as a whole, and that the loss thereof
is not, and will not be, disadvantageous in any material respect to the Holders; provided, further,
that the foregoing shall not prohibit a sale, transfer, or conveyance of a Restricted Subsidiary or
any of its assets in compliance with the terms of this Indenture.

          SECTION 3.16. Payment of Taxes and Other Claims. The Company shall pay or discharge
or cause to be paid or discharged, before the same shall become delinquent, (i) all material taxes,
assessments and governmental charges levied or imposed upon the Company or any Restricted
Subsidiary or upon the income, profits or property of the Company or any Restricted Subsidiary and
(ii) all lawful claims for labor, materials and supplies, which, if unpaid, might by law become a
material liability or lien upon the property of the Company or any Restricted Subsidiary; provided,
however, that the Company shall not be required to pay or discharge or cause to be paid or
discharged any such tax, assessment, charge or claim the amount, applicability or validity of which
is being contested in good faith by appropriate actions and for which appropriate reserves, if
necessary (in the good faith judgment of management of the Company), are being maintained in
accordance with GAAP or where the failure to effect such payment will not be disadvantageous to the
Holders.

          SECTION 3.17. [Reserved].

          SECTION 3.18. Compliance Certificate. The Company shall deliver to the Trustee within
120 days after the end of each fiscal year of the Company an Officers’ Certificate stating that in
the course of the performance by the signers of their duties as Officers of the Company they would
normally have knowledge of any Default or Event of Default and whether or not the signers know of
any Default or Event of Default that occurred during the previous fiscal year. If they do, the
certificate shall describe the Default or Event of Default, its status and the action the Company
is taking or proposes to take with respect thereto. The Company also shall comply with TIA §
314(a)(4).

          SECTION 3.19. Further Instruments and Acts. Upon request of the Trustee or as
necessary to comply with any future developments or requirements, the Company shall execute and
deliver such further instruments and do such further acts as may be reasonably necessary or proper
to carry out more effectively the purpose of this Indenture with respect to such future
developments or requirements.

          SECTION 3.20. Statement by Officers as to Default. The Company shall deliver to the
Trustee, as soon as possible and in any event within 30 days after the occurrence of any Event of
Default or an event which, with notice or the lapse of time or both, would constitute an Event of
Default, an Officers’ Certificate setting forth the details of such Event of Default or Default,
its status and the actions which the Company is taking or proposes to take with respect thereto
unless such Default has been cured before the end of the 30-day period.

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          SECTION 3.21. Effectiveness of Certain Covenants. If on any date following the date
of this Indenture:

     (1) the Securities are rated Baa3 or better by Moody’s Investors Service, Inc. and BBB-
or better by Standard & Poor’s Ratings Group, Inc. (or, if either such entity ceases to rate
the notes for reasons outside of the control of the Company, the equivalent investment grade
credit rating from any other nationally recognized statistical rating agency selected by the
Company as a replacement agency); and

     (2) no Default or Event of Default shall have occurred and be continuing,

          then, beginning on that day and subject to the provisions of the following paragraph, the
covenants specifically listed below will be suspended:

     (1) Section 3.2 hereof;

     (2) Section 3.3 hereof;

     (3) Section 3.4 hereof;

     (4) Section 3.5 hereof;

     (5) Section 3.8 hereof ;

     (6) Section 3.9 hereof;

     (7) Section 3.12 hereof;

     (8) clause (3) with respect to Section 4.1;

     (9) Section 3.13 hereof (but only with respect to the obligation to create
future Subsidiary Guarantors); and

     (10) Section 3.10 hereof.

          Notwithstanding the foregoing, if the rating assigned by either such rating agency should
subsequently decline to below Baa3 or BBB-, respectively, the foregoing covenants will be
reinstituted as of and from the date of such rating decline. Calculations under the reinstated
Section 3.3 will be made as if Section 3.3 had been in effect since the date of
this Indenture except that no Default will be deemed to have occurred solely by reason of a
Restricted Payment made while Section 3.3 was suspended.

ARTICLE IV

SUCCESSOR COMPANY

     SECTION 4.1. Merger and Consolidation. The Company will not consolidate with or merge
with or into, or convey, transfer or lease all or substantially all its assets to, any Person,
unless:

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     (1) the resulting, surviving or transferee Person (the “Successor Company”)
will be a corporation organized and existing under the laws of the United States of America,
any State of the United States or the District of Columbia and the Successor Company (if not
the Company) will expressly assume, by supplemental indenture, executed and delivered to the
Trustee, in form satisfactory to the Trustee, all the obligations of the Company under the
Securities and this Indenture and will expressly assume, by written agreement all the
obligations of the Company under the Registration Rights Agreement, the Collateral Documents
and the Intercreditor Agreement;

     (2) immediately after giving effect to such transaction (and treating any Indebtedness
that becomes an obligation of the Successor Company or any Subsidiary of the Successor
Company as a result of such transaction as having been Incurred by the Successor Company or
such Subsidiary at the time of such transaction), no Default or Event of Default would exist
that shall not have been cured or waived;

     (3) immediately after giving effect to such transaction, the Successor Company would
(i) be able to Incur at least $1.00 of additional Indebtedness pursuant to the first
paragraph of Section 3.2 or (ii) have a Consolidated Coverage Ratio of not less than
the Consolidated Coverage Ratio of the Company immediately prior to such transaction;

     (4) each Note Guarantor (unless it is the other party to the transactions above, in
which case clause (1) shall apply) shall have by supplemental indenture confirmed that its
Note Guarantee shall apply to such Person’s obligations in respect of this Indenture and the
Securities; and

     (5) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer and such
supplemental indenture (if any) comply with this Indenture, the Collateral Documents and the
Intercreditor Agreement.

Notwithstanding the preceding clause (3), (x) any Restricted Subsidiary may consolidate with, merge
into or transfer all or part of its properties and assets to the Company and (y) the Company may
merge with an Affiliate incorporated solely for the purpose of reincorporating the Company in
another jurisdiction; provided that, in the case of a Restricted Subsidiary that merges into the
Company, the Company will not be required to comply with the preceding clauses (2), (3) or (5).

          Parent will not consolidate with or merge with or into, or convey, transfer or lease all or
substantially all its assets to, any Person, unless:

     (1) (a) the resulting, surviving or transferee Person (the “Successor Parent”)
will be a corporation organized and existing under the laws of the United States of America,
any State of the United States or the District of Columbia and (b) the Successor Parent (if
not the Parent) will expressly assume, by supplemental indenture (and other applicable
documents), executed and delivered to the Trustee, in form satisfactory to the Trustee, all
the obligations of the Parent under its Note Guarantee, this Indenture, the Collateral
Documents, the Intercreditor Agreement and the Registration Rights Agreement;

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     (2) immediately after giving effect to such transaction (and treating any Indebtedness
that becomes an obligation of the Successor Parent or any Subsidiary of the Successor Parent
as a result of such transaction as having been Incurred by the Successor Parent or such
Subsidiary at the time of such transaction), no Default or Event of Default would exist that
shall not have been cured or waived; and

     (3) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer and such
supplemental indenture (if any) comply with this Indenture, the Collateral Documents and the
Intercreditor Agreement.

          For purposes of this Section 4.1, the sale, lease, conveyance, assignment, transfer,
or other disposition of all or substantially all of the properties and assets of one or more
Subsidiaries of the Company, which properties and assets, if held by the Parent or the Company
instead of such Subsidiaries, would constitute all or substantially all of the properties and
assets of the Parent or the Company on a consolidated basis, shall be deemed to be the transfer of
all or substantially all of the properties and assets of the Parent and the Company.

          The predecessor company will be released from its obligations under this Indenture and the
Successor Company will succeed to, and be substituted for, and may exercise every right and power
of, the Company under this Indenture, the Collateral Documents and the Intercreditor Agreement,
but, in the case of a lease of all or substantially all its assets, the predecessor company will
not be released from the obligation to pay the principal of and interest on the Securities or any
obligation under the Collateral Documents and the Intercreditor Agreement.

          In addition, the Company will not permit any Subsidiary Guarantor to consolidate with or merge
with or into any Person (other than another Subsidiary Guarantor) and will not permit the
conveyance, transfer or lease of all or substantially all of the assets of any Subsidiary Guarantor
(other than to another Subsidiary Guarantor) unless: (1) if such entity remains a Subsidiary
Guarantor, the resulting, surviving or transferee Person will be a corporation, partnership, trust
or limited liability company organized and existing under the laws of the United States of America,
any State of the United States or the District of Columbia; (2) immediately after giving effect to
such transaction (and treating any Indebtedness that becomes an obligation of the resulting,
surviving or transferee Person or any Restricted Subsidiary as a result of such transaction as
having been Incurred by such Person or such Restricted Subsidiary at the time of such transaction),
no Default or Event of Default would exist that shall not have been cured or waived; (3) the
resulting, surviving or transferee Person assumes all the obligations of such Subsidiary Guarantor
pursuant to a supplemental indenture in form and substance reasonably satisfactory to the Trustee
under the Securities, this Indenture, the Collateral Documents, the Intercreditor Agreement and the
Registration Rights Agreement; and (4) the Company will have delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and
such supplemental indenture (if any) comply with this Indenture.

          Notwithstanding the foregoing, (1) a Subsidiary Guarantor may merge with an Affiliate
incorporated solely for the purpose of reincorporating such Subsidiary Guarantor in another
jurisdiction, so long as the amount of Indebtedness of such Subsidiary Guarantor is not

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increased thereby, and (2) any Subsidiary Guarantor may merge into or transfer or lease all or part of its
properties and assets to Libbey Glass or another Subsidiary Guarantor.

ARTICLE V

REDEMPTION OF SECURITIES

          SECTION 5.1. Redemption. The Securities may be redeemed, as a whole or from time to
time in part, subject to the conditions and at the redemption prices specified in paragraph 5 of
the form of Securities set forth in Exhibit A and Exhibit B hereto, which are
hereby incorporated by reference and made a part of this Indenture, together with accrued and
unpaid interest, if any, to the Redemption Date.

          SECTION 5.2. Applicability of Article. Redemption of Securities at the election of
the Company or otherwise, as permitted or required by any provision of this Indenture, shall be
made in accordance with such provision and this Article.

          SECTION 5.3. Election to Redeem; Notice to Trustee. The election of the Company to
redeem any Securities pursuant to Section 5.1 shall be evidenced by a Board Resolution of
the Company. In case of any redemption at the election of the Company, the Company shall, upon not
later than the earlier of the date that is 45 days prior to the Redemption Date fixed by the
Company or the date on which notice is given to the Holders (except as provided under Section
5.5 or unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of
such Redemption Date and of the principal amount of Securities to be redeemed and shall deliver to
the Trustee such documentation and records as shall enable the Trustee to select the Securities to
be redeemed pursuant to Section 5.4. Any such notice may be cancelled at any time prior to
notice of such redemption being mailed to any Holder and shall thereby be void and of no effect.

          SECTION 5.4. Selection by Trustee of Securities to Be Redeemed. If less than all the
Securities are to be redeemed at any time pursuant to an optional redemption, the particular
Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by
the Trustee, from the outstanding Securities not previously called for redemption, in compliance
with the requirements of the principal national securities exchange, if any, on which such
Securities are listed, or, if such Securities are not so listed, on a pro rata basis, by lot or by
such other method as the Trustee in its sole discretion shall deem fair and appropriate (and in
such manner as complies with applicable legal requirements) and which may provide for the selection
for redemption of portions of the principal of the Securities; provided, however, that no such
partial redemption shall reduce the portion of the principal amount of a Security not redeemed to
less than $2,000.

          The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption and, in the case of any Securities selected for partial redemption, the method it has
chosen for the selection of Securities and the principal amount thereof to be redeemed.

          For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to redemption of Securities shall relate, in the case of any Security redeemed or to

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be redeemed only in part, to the portion of the principal amount of such Security which has been or is
to be redeemed.

          SECTION 5.5. Notice of Redemption. Notice of redemption shall be given in the manner
provided for under Section 12.2 not less than 30 nor more than 60 days prior to the
Redemption Date, to each Holder of Securities to be redeemed. At the Company’s request, the
Trustee shall give notice of redemption in the Company’s name and at the Company’s expense;
provided, however, that the Company shall deliver to the Trustee, at least 45 days prior to the
Redemption Date, an Officers’ Certificate requesting that the Trustee give such notice at the
Company’s expense and the form of notice that shall include the following items.

     All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the redemption price and the amount of accrued interest to the Redemption Date
payable as provided under Section 5.7, if any,

     (3) if less than all outstanding Securities are to be redeemed, the identification of
the particular Securities (or portion thereof) to be redeemed, as well as the aggregate
principal amount of Securities to be redeemed and the aggregate principal amount of
Securities to be outstanding after such partial redemption,

     (4) in case any Security is to be redeemed in part only, the notice which relates to
such Security shall state that on and after the Redemption Date, upon surrender of such
Security, the Holder will receive, without charge, a new Security or Securities of
authorized denominations for the principal amount thereof remaining unredeemed,

     (5) that on the Redemption Date the redemption price (and accrued interest, if any, to
the Redemption Date payable as provided under Section 5.7) will become due and
payable upon each such Security, or the portion thereof, to be redeemed, and, unless the
Company defaults in making the redemption payment, that interest on Securities called for redemption (or the portion thereof)
will cease to accrue on and after said date,

     (6) the place or places where such Securities are to be surrendered for payment of the
redemption price and accrued interest, if any,

     (7) the name and address of the Paying Agent,

     (8) that Securities called for redemption must be surrendered to the Paying Agent to
collect the redemption price,

     (9) the CUSIP, Common Code and ISIN numbers, if applicable, and that no representation
is made as to the accuracy or correctness of the CUSIP, Common Code and ISIN numbers, if
applicable, if any, listed in such notice or printed on the Securities, and

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     (10) the paragraph of the Securities pursuant to which the Securities are to be
redeemed.

          SECTION 5.6. Deposit of Redemption Price. Prior to 10:00 a.m., New York City time, on
any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the
Company or any of the Company’s Subsidiaries is acting as its own Paying Agent, segregate and hold
in trust as provided under Section 2.4) an amount of money sufficient to pay the redemption
price of, and accrued interest on, all the Securities which are to be redeemed on that date, other
than Securities or portions of Securities called for redemption that are beneficially owned by the
Company and have been delivered by the Company to the Trustee for cancellation.

          SECTION 5.7. Securities Payable on Redemption Date. Notice of redemption having been
given as aforesaid, the Securities or portions of Securities so to be redeemed shall, on the
Redemption Date, become due and payable at the redemption price therein specified (together with
accrued interest, if any, to the Redemption Date), and on and after such date (unless the Company
shall default in the payment of the redemption price and accrued interest) such Securities shall
cease to bear interest and the only right of the Holders thereof will be to receive payment of the
redemption price and, subject to the next sentence, unpaid interest on such Securities to the
Redemption Date. Upon surrender of any such Security for redemption in accordance with said
notice, such Security shall be paid by the Company at the redemption price, together with accrued
interest, if any, to the Redemption Date (subject to the rights of Holders of record on the
relevant record date to receive interest due on the relevant interest payment date).

          If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the unpaid principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate borne by the Securities.

          SECTION 5.8. Securities Redeemed in Part. Any Security which is to be redeemed only
in part (pursuant to the provisions of this Article) shall be surrendered at the office or agency
of the Company maintained for such purpose pursuant to Section 3.14 (with, if the Company
or the Trustee so require, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by the Holder thereof or such Holder’s
attorney duly authorized in writing), and the Company shall execute, and the Trustee shall
authenticate and make available for delivery to the Holder of such Security at the expense of the
Company, a new Security or Securities, of any authorized denomination as requested by such Holder,
in an aggregate principal amount equal to and in exchange for the unredeemed portion of the
principal of the Security so surrendered, provided that each such new Security will be in a
principal amount of $1,000 or an integral multiple thereof.

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ARTICLE VI

DEFAULTS AND REMEDIES

          SECTION 6.1. Events of Default. Each of the following is an event of default (an
“Event of Default”):

     (1) default in any payment of interest or additional interest (as required by the
Registration Rights Agreement) on any Security when due, continued for 30 days;

     (2) default in the payment of principal of or premium, if any, on any Security when due
at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration
or otherwise;

     (3) failure by the Company or any Note Guarantor to comply with its obligations under
Section 4.1;

     (4) failure by the Company or any Note Guarantor to comply for 45 days after notice as
provided below with (a) any of its obligations under Article III (in each case,
other than a failure to purchase Securities, which will constitute an Event of Default under
clause (2) above, and other than a failure to comply with Section 4.1, which is
covered by clause (3) of this Section 6.1) or (b) any of its agreements contained in
the Collateral Documents or Intercreditor Agreement;

     (5) failure by the Company or any Note Guarantor to comply for 60 days after notice as
provided below with its other agreements contained in this Indenture;

     (6) default under any mortgage, indenture or instrument under which there may be issued
or by which there may be secured or evidenced any Indebtedness for money borrowed by the
Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the
Company or any of its Restricted Subsidiaries), other than Indebtedness owed to the Company
or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists, or is created
after the Issue Date, which default:

     (a) is caused by a failure to pay principal of, or interest or premium, if any,
on such Indebtedness prior to the expiration of the grace period provided in such
Indebtedness (“payment default”); or

     (b) results in the acceleration of such Indebtedness prior to its maturity (the
“cross-acceleration provision”);

and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there has been a payment default
or the maturity of which has been so accelerated, aggregates $20.0 million or more;

     (7) (a) the Company or a Significant Subsidiary or group of Restricted Subsidiaries
that, taken together (as of the latest audited consolidated financial statements for

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the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary,
pursuant to or within the meaning of any Bankruptcy Law:

     (i) commences a voluntary case or proceeding;

     (ii) consents to the entry of judgment, decree or order for relief against it
in an involuntary case or proceeding;

     (iii) consents to the appointment of a Custodian of it or for any substantial
part of its property;

     (iv) makes a general assignment for the benefit of its creditors;

     (v) consents to or acquiesces in the institution of a bankruptcy or an
insolvency proceeding against it;

     (vi) takes any corporate action to authorize or effect any of the foregoing;

     (vii) takes any comparable action under any foreign laws relating to
insolvency; or

     (b) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that:

     (i) is for relief in an involuntary case against the Company or a Significant
Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest
audited consolidated financial statements for the Company and its Restricted Subsidiaries),
would constitute a Significant Subsidiary, pursuant to or within the meaning of any
Bankruptcy Law;

     (ii) appoints a Custodian for all or substantially all of the property of the Company
or a Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of
the latest audited consolidated financial statements for the Company and its Restricted
Subsidiaries), would constitute a Significant Subsidiary, pursuant to or within the meaning
of any Bankruptcy Law; or

     (iii) orders the winding up or liquidation of the Company or a Significant Subsidiary
or group of Restricted Subsidiaries that, taken together (as of the latest audited
consolidated financial statements for the Company and its Restricted Subsidiaries), would
constitute a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy
Law; and

     (vi) in each case the order, decree or relief remains unstayed and in effect for 60
days;

     (8) failure by the Company or any Significant Subsidiary or group of Restricted
Subsidiaries that, taken together (as of the latest audited consolidated financial

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statements for the Company and its Restricted Subsidiaries), would constitute a Significant
Subsidiary to pay final judgments aggregating in excess of $20.0 million (net of any amounts
that a reputable and creditworthy insurance company has acknowledged liability for in
writing), which judgments are not paid, discharged or stayed for a period of 60 days (the
“judgment default provision”);

     (9) any Subsidiary Guarantee, Collateral Document or obligation under the Intercreditor
Agreement of a Significant Subsidiary or group of Restricted Subsidiaries that taken
together as of the latest audited consolidated financial statements for the Company and its
Restricted Subsidiaries would constitute a Significant Subsidiary ceases to be in full force
and effect (except as contemplated by the terms of this Indenture) or is declared null and
void in a judicial proceeding or any Subsidiary Guarantor that is a Significant Subsidiary
or group of Subsidiary Guarantors that taken together as of the latest audited consolidated
financial statements of the Company and its Restricted Subsidiaries would constitute a
Significant Subsidiary denies or disaffirms its obligations under this Indenture, its
Subsidiary Guarantee, any Collateral Document or the Intercreditor Agreement; or

     (10) with respect to any Collateral having a fair market value in excess of $20.0
million, individually or in the aggregate, (A) the security interest under the Collateral
Documents, at any time, ceases to be in full force and effect for any reason other than in
accordance with their terms and the terms of this Indenture and other than the satisfaction
in full of all obligations under this Indenture and discharge of this Indenture, (B) any
security interest created thereunder or under this Indenture is declared invalid or
unenforceable or (C) the Company or any Note Guarantor asserts, in any pleading in any court
of competent jurisdiction, that any such security interest is invalid or unenforceable.

However, a default under clauses (4) and (5) of this paragraph will not constitute an Event of
Default until the Trustee or the Holders of 25% in principal amount of the outstanding Securities
notify the Company of the default and the Company does not cure such default within the time specified in clauses (4) and (5) of this
paragraph after receipt of such notice.

          The foregoing shall constitute Events of Default whatever the reason for any such Event of
Default and whether it is voluntary or is effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or governmental
body.

          SECTION 6.2. Acceleration. If an Event of Default (other than an Event of Default
described in clause (7) of Section 6.1) occurs and is continuing, the Trustee by notice to
the Company, or the Holders of at least 25% in principal amount of the outstanding Securities by
notice to the Company and the Trustee, may, and the Trustee at the request of such Holders shall,
declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the
Securities to be due and payable. Upon such a declaration, such principal, premium and accrued and
unpaid interest will be due and payable immediately.

          In the event of a declaration of acceleration of the Securities because an Event of Default
described in clause (6) of Section 6.1 has occurred and is continuing, the declaration of

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acceleration of the Securities shall be automatically annulled if (i) the default triggering such
Event of Default pursuant to clause (6) of Section 6.1 shall be remedied or cured by the
Company or a Restricted Subsidiary or waived by the Holders of the relevant Indebtedness within 20
days after the declaration of acceleration with respect thereto; and (ii) the annulment of the
acceleration of the Securities would not conflict with any judgment or decree of a court of
competent jurisdiction.

          If an Event of Default described in clause (7) of Section 6.1 occurs and is
continuing, the principal of, premium, if any, and accrued and unpaid interest on all the
Securities will become and be immediately due and payable without any declaration or other act on
the part of the Trustee or any Holders.

          SECTION 6.3. Other Remedies. If an Event of Default occurs and is continuing, the
Trustee may pursue any available remedy by proceeding at law or in equity to collect the payment of
principal of (or premium, if any) or interest on the Securities or to enforce the performance of
any provision of the Securities or this Indenture.

          The Trustee may maintain a proceeding even if it does not possess any of the Securities or
does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive
of any other remedy. All available remedies are cumulative.

          SECTION 6.4. Waiver of Past Defaults. The Holders of a majority in principal amount
of the outstanding Securities by notice to the Trustee may (a) waive, by their consent (including
consents obtained in connection with a purchase of, or tender offer or exchange offer for,
Securities), an existing Default or Event of Default and its consequences, except a Default or
Event of Default in the payment of the principal of, or premium, if any, or interest on a Security,
and (b) rescind any such acceleration with respect to the Securities and its consequences if (1)
rescission would not conflict with any judgment or decree of a court of competent jurisdiction and
(2) all existing Events of Default, other than the nonpayment of the principal of, premium, if any,
and interest on the Securities that have become due solely by such declaration of acceleration,
have been cured or waived. When a Default or Event of Default is waived, it is deemed cured, but
no such waiver shall extend to any subsequent or other Default or Event of Default or impair any
consequent right.

          SECTION 6.5. Control by Majority. The Holders of a majority in principal amount of
the outstanding Securities may direct the time, method and place of conducting any proceeding for
any remedy available to the Trustee or the Collateral Agent or of exercising any trust or power
conferred on the Trustee or the Collateral Agent. However, the Trustee may refuse to follow any
direction that conflicts with law or this Indenture, the Collateral Documents or the Intercreditor
Agreement or, subject to Sections 7.1 and 7.2, that the Trustee determines is
unduly prejudicial to the rights of any other Holder or would involve the Trustee in personal
liability; provided, however, that the Trustee may take any other action deemed proper by the
Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled to
indemnification satisfactory to it in its sole discretion against all losses and expenses caused by
taking or not taking such action.

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          SECTION 6.6. Limitation on Suits. Subject to the provisions of this Indenture
relating to the duties of the Trustee or the Collateral Agent, if an Event of Default occurs and is
continuing, the Trustee or the Collateral Agent will be under no obligation to exercise any of the
rights or powers under this Indenture or the Collateral Documents at the request or direction of
any of the Holders unless such Holders have offered to the Trustee or the Collateral Agent
reasonable indemnity or security against any loss, liability or expense. Except to enforce the
right to receive payment of principal, premium, if any, or interest when due, no Holder may pursue
any remedy with respect to this Indenture or the Securities unless:

     (1) such Holder has previously given the Trustee written notice that an Event of
Default is continuing;

     (2) Holders of at least 25% in principal amount of the outstanding Securities have made
a written request to the Trustee to pursue the remedy;

     (3) such Holders have offered the Trustee reasonable security or indemnity against any
loss, liability or expense;

     (4) the Trustee has not complied with such request within 60 days after the receipt of
the request and the offer of security or indemnity; and

     (5) the Holders of a majority in principal amount of the outstanding Securities have
not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with
such request within such 60-day period.

          A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a
preference or priority over another Holder.

          SECTION 6.7. Rights of Holders to Receive Payment. Notwithstanding any other
provision of this Indenture (including Section 6.6), the right of any Holder to receive
payment of principal of, premium, if any, or interest on the Securities held by such Holder, on or
after the respective due dates expressed in the Securities, or to bring suit for the enforcement of
any such payment on or after such respective dates, shall not be impaired or affected without the
consent of such Holder.

          SECTION 6.8. Collection Suit by Trustee. If an Event of Default specified in clause
(1) or (2) of Section 6.1 occurs and is continuing, the Trustee may recover judgment in its
own name and as trustee of an express trust against the Company for the whole amount then due and
owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided
for under Section 7.7.

          SECTION 6.9. Trustee May File Proofs of Claim. The Trustee may file such proofs of
claim and other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial
proceedings relative to the Company, its Subsidiaries or its or their respective creditors or
properties and, unless prohibited by law or applicable regulations, may be entitled and empowered

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to participate as a member of any official committee of creditors appointed in such matter and may
vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing
similar functions, and any custodian in any such judicial proceeding is hereby authorized by each
Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its
counsel, and any other amounts due the Trustee under Section 7.7.

          SECTION 6.10. Priorities. If the Trustee collects any money or property pursuant to
this Article VI, it shall pay out the money or property in the following order:

     FIRST: to the Trustee and Collateral Agent for amounts due under Section 7.7
and to the Collateral Agent for any other amounts due under the Collateral Documents;

     SECOND: to Holders for amounts due and unpaid on the Securities for principal,
premium, if any, and interest, ratably, without preference or priority of any kind,
according to the amounts due and payable on the Securities for principal and interest,
respectively; and

     THIRD: to the Company or to whomever may be lawfully entitled to receive the same.

          The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.10.

          SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or
remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by
it as Trustee, a court in its discretion may require the filing by any party litigant in the suit
of an undertaking to pay the costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
the suit, having due regard to the merits and good faith of the claims or defenses made by the
party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a
Holder pursuant to Section 6.7 or a suit by Holders of more than 10% in outstanding
principal amount of the Securities.

ARTICLE VII

TRUSTEE

          SECTION 7.1. Duties of Trustee.

          (a) If an Event of Default has occurred and is continuing, the Trustee will exercise the
rights and powers vested in it by this Indenture and use the same degree of care and skill in their
exercise as a prudent Person would exercise or use under the circumstances in the conduct of such
Person’s own affairs.

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     (b) Except during the continuance of an Event of Default:

     (1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates, opinions or orders furnished to the Trustee and conforming to the requirements
of this Indenture. However, in the case of any such certificates or opinions which by any
provisions hereof are specifically required to be furnished to the Trustee, the Trustee
shall examine such certificates and opinions to determine whether or not they conform to the
requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein).

          (c) The Trustee may not be relieved from liability for its own negligent action, its own
negligent failure to act or its own willful misconduct, except that:

     (1) this paragraph does not limit the effect of paragraph (b) of this Section
7.1;

     (2) the Trustee shall not be liable for any error of judgment made in good faith by a
Trust Officer unless it is proved that the Trustee was negligent in ascertaining the
pertinent facts; and

     (3) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section
6.5.

          (d) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Company.

          (e) Money held in trust by the Trustee need not be segregated from other funds except to the
extent required by law.

          (f) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur financial liability in the performance of any of its duties hereunder or in the
exercise of any of its rights or powers, if it shall have reasonable grounds to believe that
repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it.

          (g) Every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section 7.1
and to the provisions of the TIA.

          (h) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Company shall be sufficient if signed by an Officer of the Company.

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          (i) The Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders unless such Holders shall
have offered to the Trustee indemnity or security reasonably satisfactory to it against the costs,
expenses (including reasonable attorneys’ fees and expenses) and liabilities that might be incurred
by it in compliance with such request or direction.

     SECTION 7.2. Rights of Trustee. Subject to Section 7.1:

     (a) The Trustee may conclusively rely on any document (whether in its original or
facsimile form) reasonably believed by it to be genuine and to have been signed or presented
by the proper person. The Trustee need not investigate any fact or matter stated in the
document. The Trustee shall receive and retain financial reports and statements of the
Company as provided herein, but shall have no duty to review or analyze such reports or
statements to determine compliance under covenants or other obligations of the Company.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’
Certificate and/or an Opinion of Counsel. The Trustee shall not be liable for any action it
takes or omits to take in good faith in reliance on an Officers’ Certificate or Opinion of
Counsel.

     (c) The Trustee may act through its attorneys and agents and shall not be responsible
for the misconduct or negligence of any agent appointed with due care. The Trustee shall
have no obligation to monitor such attorneys or agents provided each was appointed with due
care.

     (d) The Trustee shall not be liable for any action it takes or omits to take in good
faith which it believes to be authorized or within its rights or powers, unless the
Trustee’s conduct constitutes willful misconduct or negligence.

     (e) The Trustee may consult with counsel of its selection, and the advice or opinion of
counsel with respect to legal matters relating to this Indenture and the Securities shall be
full and complete authorization and protection from liability in respect of any action
taken, omitted or suffered by it hereunder in good faith and in accordance with the advice
or opinion of such counsel.

     (f) The Trustee shall not be deemed to have notice of any Default or Event of Default
unless a Trust Officer of the Trustee has actual knowledge thereof or unless written notice
of any event which is in fact such a default is received by the Trustee at the corporate trust office of the
Trustee specified under Section 12.2, and such notice references the Securities and
this Indenture.

     (g) In the event the Trustee receives inconsistent or conflicting requests and
indemnity from two or more groups of Holders of Securities , each representing less than a
majority in aggregate principal amount of the Securities outstanding, pursuant to the
provisions of this Indenture, the Trustee, in its sole discretion, may determine what
action, if any, will be taken.

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     (h) The rights, privileges, protections, immunities and benefits given to the Trustee,
including its right to be indemnified, are extended to, and shall be enforceable by, the
Trustee in each of its capacities hereunder, and to each agent, custodian and other Person
employed to act hereunder.

     (i) The Trustee shall not be deemed to have knowledge of any fact or matter unless such
fact or matter is known to a Trust Officer of the Trustee.

     (j) Whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may
request, and in the absence of bad faith or willful misconduct on its part, rely upon an
Officers’ Certificate and an Opinion of Counsel.

     (k) The Trustee may request that the Company deliver an Officers’ Certificate setting
forth the names of individuals and/or titles of officers authorized at such time to take
specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by
any person specified as so authorized in any such certificate previously delivered and not
superseded.

     (l) In no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of
profit) irrespective of whether the Trustee has been advised of the likelihood of such loss
or damage and regardless of the form of action.

          SECTION 7.3. Individual Rights of Trustee. The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and may otherwise deal with the Company, the
Subsidiary Guarantors or their Affiliates with the same rights it would have if it were not
Trustee. However, the Trustee must comply with Sections 7.10 and 7.11. In
addition, the Trustee shall be permitted to engage in transactions with the Company; provided,
however, that if the Trustee acquires any conflicting interest, as defined in TIA § 310(b), the
Trustee must (i) eliminate such conflict within 90 days of acquiring such conflicting interest,
(ii) apply to the SEC for permission to continue acting as Trustee or (iii) resign. Any Paying
Agent, Registrar, co-registrar or co-paying agent may do the same with like rights.

          SECTION 7.4. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes
no representation as to the validity or adequacy of this Indenture or the Securities, shall not be
accountable for the Company’s use of the proceeds from the sale of the Securities, shall not be
responsible for the use or application of any money received by any Paying Agent other than the
Trustee or any money paid to the Company pursuant to the terms of this Indenture and shall not be
responsible for any statement of the Company in this Indenture or in any document issued in
connection with the sale of the Securities or in the Securities other than the Trustee’s
certificate of authentication.

          SECTION 7.5. Notice of Defaults. If a Default occurs and is continuing and is known
to the Trustee, the Trustee must mail to each Holder notice of the Default within 90 days after it
occurs. Except in the case of a Default in the payment of principal of, premium, if

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any, or interest on any Security, the Trustee may withhold notice if and so long as a
committee of Trust Officers of the Trustee in good faith determines that withholding notice is in
the interests of the Holders.

          SECTION 7.6. Reports by Trustee to Holders. As promptly as practicable after each
February 15 following the date of this Indenture, beginning February 15, 2011, and in any event
prior to April 15 in each year, the Trustee shall mail to each Holder a brief report dated as of
such mail date that complies with TIA § 313(a) if and to the extent required thereby. The Trustee
also shall comply with TIA § 313(b) and TIA § 313(c).

          A copy of each report at the time of its mailing to Holders shall be filed with the SEC and
each stock exchange (if any) on which the Securities are listed. The Company agrees to notify
promptly the Trustee whenever the Securities become listed on any stock exchange and of any
delisting thereof and the Trustee shall comply with TIA § 313(d).

          SECTION 7.7. Compensation and Indemnity. The Company and each Subsidiary Guarantor,
if any, shall be jointly and severally liable for paying to each of the Trustee and Collateral
Agent from time to time reasonable compensation for the Trustee’s acceptance of this Indenture and
services hereunder and the Collateral Agent’s acceptance of the Collateral Documents and services
thereunder, respectively, as the Company and the Trustee or the Collateral Agent, respectively,
shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any
law on compensation of a trustee of an express trust. The Company and each Subsidiary Guarantor,
if any, shall be jointly and severally liable for reimbursing the Trustee and the Collateral Agent
upon request for all reasonable out-of-pocket expenses incurred or made by each of them, including
costs of collection, costs of preparing and reviewing reports, certificates and other documents,
costs of preparation and mailing of notices to Holders and reasonable fees and expenses of counsel
retained by the Trustee or the Collateral Agent, as applicable, in addition to the compensation for
each agent’s services. Such expenses shall include the reasonable compensation and expenses,
disbursements and advances of the Trustee’s or Collateral Agent’s (as applicable) agents, counsel,
accountants and experts.

          The Company and each Subsidiary Guarantor (if any), jointly and severally, shall indemnify the
Trustee against any and all loss, liability, damages, claims or expense (including reasonable
attorneys’ fees and expenses) incurred by it without negligence, bad faith or willful misconduct on
its part in connection with the administration of this trust and the performance of its duties
hereunder, including the costs and expenses of enforcing this Indenture (including this Section
7.7) and of defending itself against any claims (whether asserted by any Holder, the Company or
otherwise) or liability in connection with the exercise or performance of any of its powers or
duties hereunder. The Trustee shall notify the Company promptly of any claim for which it may seek
indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company or any
Subsidiary Guarantor of its obligations hereunder, except to the extent that they were prejudiced
by such failure to notify. The Company shall defend the claim and the Trustee shall provide
reasonable cooperation at the Company’s expense in the defense. The Trustee may have separate
counsel and the Company and the Subsidiary Guarantors, if any, shall pay the fees and expenses of
such counsel; provided that the Company shall not be required to pay such fees and expenses if they
assume the Trustee’s defense, and, in the reasonable judgment

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of outside counsel to the Trustee, there is no conflict of interest between the Company and
the Trustee in connection with such defense. Notwithstanding the foregoing, the Company and the
Subsidiary Guarantors, if any, need not reimburse any expense or indemnify against any loss,
liability or expense which is finally determined by a court of competent jurisdiction to have been
caused by the Trustee’s own willful misconduct, negligence or bad faith.

          The Trustee shall have no responsibility to prepare, make or to see to the making of, and
shall be indemnified in connection with, any recording, filing or registration of any instrument or
notice (including any financing or continuation statement or any tax or securities form) (or any
rerecording, refiling or reregistration of any thereof); at any time in any public office or
elsewhere for the purpose of perfecting, maintaining the perfection of or otherwise making
effective the Lien of this Indenture or for any other purpose and shall have no responsibility for
seeing to the insurance on the property encumbered by the Mortgages or for paying any taxes,
changes or assessments on or relating to the property encumbered by the Mortgages or for otherwise
maintaining of any such property, including, but not limited to the investigation or remediation of
Hazardous Materials affecting the Company or any property encumbered by the Mortgages or any part
thereof, it being understood that none of the foregoing shall be construed as permitting the
Trustee to engage in negligence or willful misconduct with respect to property subject to the Lien
of the Indenture or affect any obligation or duty of the Trustee to comply with applicable
Environmental Laws.

          To secure the Company’s and the Subsidiary Guarantors’ payment obligations in this Section
7.7, each of the Trustee and the Collateral Agent shall have a lien prior to the Securities on
all money or property held or collected by the Trustee or Collateral Agent other than money or
property held in trust to pay principal of and interest on particular Securities. Such lien shall
survive the satisfaction and discharge of this Indenture. Each of the Trustee’s and Collateral
Agent’s rights to receive payment of any amounts due under this Section 7.7 shall not be
subordinate to any other liability or Indebtedness of the Company or the Subsidiary Guarantors (if
any).

          The Company’s and the Subsidiary Guarantors’ payment obligations pursuant to this Section
7.7 shall survive the discharge of this Indenture. When the Trustee or Collateral Agent incurs
expenses after the occurrence of a Default specified in clause (7) of Section 6.1 with
respect to the Company, the expenses are intended to constitute expenses of administration under
any Bankruptcy Law.

          SECTION 7.8. Replacement of Trustee. The Trustee may resign at any time by so
notifying the Company in writing. The Holders of a majority in principal amount of the Securities
may remove the Trustee by so notifying the removed Trustee in writing and may appoint a successor
Trustee with the Company’s written consent, which consent will not be unreasonably withheld. The
Company shall remove the Trustee if:

     (1) the Trustee fails to comply with Section 7.10;

     (2) the Trustee is adjudged bankrupt or insolvent;

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     (3) a receiver or other public officer takes charge of the Trustee or its property; or

     (4) the Trustee otherwise becomes incapable of acting as trustee hereunder.

          If the Trustee resigns or is removed by the Company or by the Holders of a majority in
principal amount of the Securities and such Holders do not reasonably promptly appoint a successor
Trustee as described in the preceding paragraph, or if a vacancy exists in the office of the
Trustee for any reason (the Trustee in such event being referred to herein as the retiring
Trustee), the Company shall promptly appoint a successor Trustee.

          A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders. The retiring Trustee, upon payment of its charges hereunder, shall promptly transfer all
property held by it as Trustee to the successor Trustee, subject to the lien provided for under
Section 7.7.

          If a successor Trustee does not take office within 60 days after the retiring Trustee resigns
or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the
Securities may petition, at the Company’s expense, any court of competent jurisdiction for the
appointment of a successor Trustee.

          If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign
is stayed as provided in TIA § 310(b), any Holder, who has been a bona fide holder of a Security
for at least six months, may petition any court of competent jurisdiction for the removal of the
Trustee and the appointment of a successor Trustee.

          Notwithstanding the replacement of the Trustee pursuant to this Section 7.8, the
Company’s obligations under Section 7.7 shall continue for the benefit of the retiring
Trustee.

          SECTION 7.9. Successor Trustee by Merger. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or assets to,
another corporation or banking association, the resulting, surviving or transferee corporation
without any further act shall be the successor Trustee.

          In case at the time such successor or successors by merger, conversion or consolidation to the
Trustee shall succeed to the trusts created by this Indenture, any of the Securities shall have
been authenticated but not delivered, any such successor to the Trustee may adopt the certificate
of authentication of any predecessor trustee, and deliver such Securities so authenticated; and in
case at that time any of the Securities shall not have been authenticated, any successor to the
Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the
name of the successor to the Trustee; provided that the right to adopt the certificate of
authentication of any predecessor Trustee or authenticate Securities in the name of any predecessor
Trustee shall only apply to its successor or successors by merger, consolidation or conversion.

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          SECTION 7.10. Eligibility; Disqualification. This Indenture shall always have a
Trustee that satisfies the requirements of TIA § 310 in every respect. The Trustee shall have a
combined capital and surplus of at least $100 million as set forth in its most recent published
annual report of condition. The Trustee shall comply with TIA § 310(b); provided, however, that
there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under
which other securities or certificates of interest or participation in other securities of the
Company are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are
met.

          SECTION 7.11. Preferential Collection of Claims Against the Company. The Trustee
shall comply with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A
Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated.

          SECTION 7.12. Trustee’s Application for Instruction from the Company. Any application
by the Trustee for written instructions from the Company may, at the option of the Trustee, set
forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and
the date on and/or after which such action shall be taken or such omission shall be effective. The
Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with
a proposal included in such application on or after the date specified in such application (which
date shall not be less than three Business Days after the date any officer of the Company actually
receives such application, unless any such officer shall have consented in writing to any earlier
date) unless prior to taking any such action (or the effective date in the case of an omission),
the Trustee shall have received written instructions in response to such application specifying the
action to be taken or omitted.

          SECTION 7.13. Paying Agents. The Company shall cause each Paying Agent other than the
Trustee to execute and deliver to it and the Trustee an instrument in which such agent shall agree
with the Trustee, subject to the provisions of this Section 7.13:

     (1) that it will hold all sums held by it as agent for the payment of principal of, or
premium, if any, or interest on, the Securities (whether such sums have been paid to it by
the Company or by any obligor on the Securities) in trust for the benefit of Holders of the
Securities or the Trustee;

     (2) that it will at any time during the continuance of any Event of Default, upon
written request from the Trustee, deliver to the Trustee all sums so held in trust by it
together with a full accounting thereof; and

     (3) that it will give the Trustee written notice within three Business Days of any
failure of the Company (or by any obligor on the Securities) in the payment of any
installment of the principal of, premium, if any, or interest on, the Securities when the
same shall be due and payable.

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ARTICLE VIII

DISCHARGE OF INDENTURE; DEFEASANCE

          SECTION 8.1. Discharge of Liability on Securities; Defeasance.

          (a) Subject to Section 8.1(c), when (i) (x) the Company delivers to the Trustee all
outstanding Securities (other than Securities replaced pursuant to Section 2.9) for
cancellation or (y) all outstanding Securities not theretofore delivered for cancellation have
become due and payable, whether at maturity or upon redemption, or will become due and payable
within one year or are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption pursuant to Article V hereof and the
Company or any Subsidiary Guarantor irrevocably deposits or causes to be deposited with the Trustee
as trust funds in trust solely for the benefit of the Holders money in U.S. dollars, U.S.
Government Obligations, or a combination thereof, in such amounts as will be sufficient without
consideration of any reinvestment of interest to pay and discharge the entire indebtedness on such
Securities not theretofore delivered to the Trustee for cancellation for principal, premium, if
any, and accrued interest to the date of maturity or redemption; (ii) no Default or Event of
Default shall have occurred and be continuing on the date of such deposit or shall occur as a
result of such deposit (other than a default resulting from borrowing of funds to be applied to
such deposit and the grant of any Lien securing such borrowing) and such deposit will not result in
a breach or violation of, or constitute a default under, the Senior Secured Credit Agreement or any
other material instrument to which the Company or any Significant Subsidiary is a party or by which
the Company or any Significant Subsidiary is bound; (iii) the Company or any Subsidiary Guarantor
has paid or caused to be paid all sums payable to the Trustee under this Indenture and the
Securities; and (iv) the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of such Securities at maturity or the
Redemption Date, as the case may be, then upon demand of the Company (accompanied by an Officers’
Certificate and an Opinion of Counsel stating that all conditions precedent specified herein
relating to the satisfaction and discharge of this Indenture have been complied with) this
Indenture shall cease to be of further effect with respect to the Securities and the Trustee shall
acknowledge satisfaction and discharge of this Indenture, at the cost and expense of the Company.

          (b) Subject to Sections 8.1(c) and 8.2, the Company and the Subsidiary
Guarantors at any time may terminate (i) all their obligations under the Securities, this
Indenture, the Collateral Documents and the Intercreditor Agreement, and cause the release of all
Collateral under the Collateral Documents (“legal defeasance option”), and after giving
effect to such legal defeasance, any omission to comply with such obligations shall no longer
constitute a Default or Event of Default or (ii) their obligations under Sections 3.2,
3.3, 3.4, 3.5, 3.6, 3.8, 3.9, 3.10,
3.11, 3.12, 3.13 and 4.1(3), and the Company may omit to comply
with and shall have no liability in respect of any term, condition or limitation set forth in any
such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any
such covenant or by reason of any reference in any such covenant to any other provision herein or
in any other document and such omission to comply with such covenants shall no longer constitute a
Default or an Event of Default under Sections 6.1(3) (only with respect to Section
4.1(3)), 6.1(4) (only with respect to such covenants), 6.1(5) (only with
respect to such covenants), 6.1(6), 6.1(7) (with respect only to Significant
Subsidiaries), 6.1(8) or 6.1(10) and the events specified in such Sections shall
no longer

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constitute an Event of Default (clause (ii) being referred to as the “covenant defeasance
option”), but except as specified above, the remainder of this Indenture and the Securities
shall be unaffected thereby. The Company may exercise its legal defeasance option notwithstanding
its prior exercise of its covenant defeasance option.

          If the Company exercises its legal defeasance option, payment of the Securities may not be
accelerated because of an Event of Default and the Subsidiary Guarantees in effect at such time
shall terminate. If the Company exercises its covenant defeasance option, payment of the
Securities may not be accelerated because of an Event of Default specified under Section
6.1(3) (other than an Event of Default resulting from failure to comply with Section
4.1(1)), 6.1(4) (only with respect to such covenants), 6.1(5) (only with
respect to such covenants), 6.1(6), 6.1(7) (with respect only to Significant
Subsidiaries), 6.1(8) or 6.1(9).

          Upon satisfaction of the conditions set forth herein and upon request of the Company, the
Trustee shall acknowledge in writing the discharge of those obligations that the Company
terminates.

          Notwithstanding the provisions of Sections 8.1(a) and (b), the Company’s
obligations under Sections 2.2, 2.3, 2.4, 2.5, 2.6,
2.9, 2.10, 2.11, 2.12, 3.1, 3.14, 3.15,
3.16, 3.18, 3.19, 3.20, 6.7, 7.7 and 7.8
and in this Article VIII shall survive until the Securities have been paid in full. After
the Securities have been paid in full, the Company’s obligations under Sections 7.7,
8.5 and 8.6 shall survive such satisfaction and discharge or defeasance.

          SECTION 8.2. Conditions to Defeasance. The Company may exercise its legal defeasance
option or its covenant defeasance option only if:

     (1) the Company irrevocably deposits in trust with the Trustee for the benefit of the
Holders money in U.S. dollars or U.S. Government Obligations or a combination thereof, the
principal of and interest (without reinvestment) on which will be sufficient, or a
combination thereof sufficient, for the payment of principal of, premium, if any, and
interest on the Securities to maturity or redemption, as the case may be;

     (2) the Company delivers to the Trustee an Officers’ Certificate stating that the
payments of principal and interest when due and without reinvestment of the deposited U.S.
Government Obligations plus any deposited money without investment will provide cash at such
times and in such amounts as will be sufficient to pay principal and interest when due on
all the Securities to maturity or redemption, as the case may be;

     (3) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the borrowing of funds
to be applied to such deposit and the grant of any Lien securing such borrowings) or insofar
as Events of Default specified in Section 6.1(7) are concerned, at any time in the
period ending on the 91st day after such date of deposit;

     (4) such legal defeasance or covenant defeasance shall not result in a breach or
violation of, or constitute a Default under, this Indenture or any other material

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agreement or instrument to which the Company or any of its Significant Subsidiaries is a
party or by which the Company or any of its Significant Subsidiaries is bound;

     (5) the Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that (A) the Securities and (B) assuming no intervening bankruptcy of the Company between
the date of deposit and the 91st day following the deposit and that no Holder of the
Securities is an insider of the Company, after the 91st day following the deposit, the trust
funds will not be subject to the effect of any applicable bankruptcy, insolvency,
reorganization or similar laws affecting creditors’ rights generally;

     (6) the Company delivers to the Trustee an Opinion of Counsel to the effect that the
trust resulting from the deposit does not constitute, and does not qualify as, a regulated
investment company under the Investment Company Act of 1940;

     (7) in the case of the legal defeasance option, the Company shall have delivered to the
Trustee an Opinion of Counsel (subject to customary assumptions and exclusions) in the
United States stating that (i) the Company has received from, or there has been published
by, the Internal Revenue Service a ruling, or (ii) since the date of this Indenture there
has been a change in the applicable federal income tax law, in either case to the effect
that, and based thereon such Opinion of Counsel shall confirm that, the Holders will not
recognize income, gain or loss for federal income tax purposes as a result of such deposit
and legal defeasance and will be subject to federal income tax on the same amount, in the
same manner and at the same times as would have been the case if such deposit and legal
defeasance had not occurred;

     (8) in the case of the covenant defeasance option, the Company shall have delivered to
the Trustee an Opinion of Counsel (subject to customary assumptions and exclusions) in the
United States to the effect that the Holders will not recognize income, gain or loss for
federal income tax purposes as a result of such deposit and covenant defeasance and will be
subject to federal income tax on the same amount, in the same manner and at the same times
as would have been the case if such deposit and covenant defeasance had not occurred; and

     (9) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to either the legal defeasance or
covenant defeasance, as the case may be, as contemplated by this Article VIII have
been complied with.

          SECTION 8.3. Application of Trust Money. The Trustee shall hold in trust all money or
U.S. Government Obligations (including proceeds thereof) deposited with it pursuant to this
Article VIII. It shall apply the deposited money and the money from U.S. Government
Obligations through the Paying Agent and in accordance with this Indenture and the Securities to
the Holders of the Securities of all sums due in respect of the payment of principal of, premium,
if any, and accrued interest on the Securities.

          SECTION 8.4. Repayment to the Company. The Trustee and the Paying Agent shall
promptly turn over to the Company upon request any excess money, U.S.
Government

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Obligations or securities held by them upon payment of all the obligations under this
Indenture.

          Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay
to the Company upon request any money held by them for the payment of principal of or premium, if
any, or interest on the Securities that remains unclaimed by the Holders thereof for two years,
and, thereafter, Holders entitled to the money must look to the Company for payment as unsecured
general creditors.

          SECTION 8.5. Indemnity for U.S. Government Obligations. The Company shall pay and
shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against
deposited U.S. Government Obligations or the principal and interest received on such U.S.
Government Obligations other than any such tax, fee or other charge that is for the account of the
Holder of the Securities.

          SECTION 8.6. Reinstatement. If the Trustee or Paying Agent is unable to apply any
money or U.S. Government Obligations in accordance with this Article VIII by reason of any
legal proceeding or by reason of any order or judgment of any court or governmental authority
enjoining, restraining or otherwise prohibiting such application, the obligations of the Company
and each Subsidiary Guarantor, if any, under this Indenture and the Securities shall be revived and
reinstated as though no deposit had occurred pursuant to this Article VIII until such time
as the Trustee or Paying Agent is permitted to apply all such money or U.S. Government Obligations
in accordance with this Article VIII; provided, however, that, if the Company or the
Subsidiary Guarantors have made any payment of principal, premium, if any, interest on or principal
of any Securities because of the reinstatement of its obligations, the Company or Subsidiary
Guarantors, as the case may be, shall be subrogated to the rights of the Holders of such Securities
to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying
Agent.

          The Trustee’s rights under this Article VIII shall survive termination of this
Indenture.

ARTICLE IX

AMENDMENTS

          SECTION 9.1. Without Consent of Holders. The Company, the Note Guarantors and the
Trustee may amend or supplement this Indenture, the Securities, the Collateral Documents, the
Intercreditor Agreement, or any Note Guarantees without the consent of any Holder to:

     (1) cure any ambiguity, omission, defect or inconsistency;

     (2) provide for the assumption by a successor corporation of the obligations of the
Company or any Note Guarantor under this Indenture;

     (3) provide for uncertificated Securities in addition to or in place of certificated
Securities (provided that the uncertificated Securities are issued in registered form

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for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated
Securities are described in Section 163(f) (2) (B) of the Code);

     (4) add Guarantees with respect to the Securities or release a Subsidiary Guarantor
upon its designation as an Unrestricted Subsidiary; provided, however, that the designation
is in accordance with the applicable provisions of this Indenture;

     (5) expand the collateral securing the Securities;

     (6) add to the covenants of the Company and the Restricted Subsidiaries for the benefit
of the Holders or surrender any right or power conferred upon the Company or any Restricted
Subsidiary;

     (7) make any change that does not adversely affect the rights of any Holder;

     (8) comply with any requirement of the SEC in connection with the qualification of this
Indenture under the TIA;

     (9) release a Note Guarantor from its obligations under its Note Guarantee or this
Indenture in accordance with the applicable provisions of this Indenture;

     (10) make, complete or confirm any Collateral permitted or required by this Indenture
or the Collateral Documents or any release of Liens in favor of the Collateral Agent on the
Collateral as provided under Section 11.3 or otherwise in accordance with the terms
of this Indenture, the Collateral Documents or the Intercreditor Agreement;

     (11) provide for the appointment of a successor trustee; provided that the successor
trustee is otherwise qualified and eligible to act as such under the terms of this
Indenture;

     (12) provide for the issuance of Additional Securities (and the grant of security for
the benefit of the Additional Securities) in accordance with the terms of this Indenture and
provide for the issuance of Exchange Securities that shall have terms substantially
identical in all respects to the Securities (except that the transfer restrictions contained
in the Securities shall be modified or eliminated as appropriate) and that shall be treated,
together with any outstanding Securities, as a single class of securities;

     (13) conform the text of this Indenture, the Securities or the Note Guarantees to any
provision of the “Description of senior secured notes” section of the Offering Memorandum to
the extent that such provision in the “Description of senior secured notes” was intended to
be a verbatim recitation of a provision of this Indenture, the Securities or the Note
Guarantees;

     (14) add additional secured parties to the extent Liens securing obligations held by
such parties are permitted under this Indenture;

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     (15) provide for the succession of any parties to the Collateral Documents (and other
amendments that are administrative or ministerial in nature) in connection with an
amendment, renewal, extension, substitution, refinancing, restructuring, replacement,
supplementing or other modification from time to time of any agreement in accordance with
the terms of this Indenture and the relevant Collateral Document;

     (16) provide for a reduction in the minimum denominations of the Securities; or

     (17) comply with the rules of any applicable securities depositary.

          After an amendment or supplement under this Section, the Collateral Documents, or the
Intercreditor Agreement becomes effective, the Company shall mail to Holders a notice briefly
describing such amendment or supplement. The failure to give such notice to all Holders, or any
defect therein, shall not impair or affect the validity of an amendment or supplement under this
Section 9.1.

          SECTION 9.2. With Consent of Holders. The Company, the Subsidiary Guarantors and the
Trustee may amend or supplement this Indenture, the Securities or any Subsidiary Guarantee with the
consent of the Holders of at least a majority in principal amount of the Securities then
outstanding (including consents obtained in connection with a purchase of, or tender offer or
exchange offer for, Securities). Any existing default or compliance with any provision of this
Indenture, the Securities or any Subsidiary Guarantee (other than a Default or an Event of Default
in the payment of the principal of, or premium, if any, or interest on a Security (except in
accordance with Section 6.4)) may be waived with the consent of the Holders of a majority
in principal amount of the Securities then outstanding (including consents obtained in connection
with a purchase of, or tender offer or exchange offer for, Securities). However, without the
consent of each Holder affected, an amendment, supplement or waiver may not (with respect to any
Securities held by a non-consenting Holder of Securities):

     (1) reduce the amount of Securities whose Holders must consent to an amendment;

     (2) change the method of calculating the rate of interest or extend the stated time for
payment of interest on any Security;

     (3) reduce the principal of or extend the Stated Maturity of any Security;

     (4) reduce the premium payable upon the redemption or repurchase of any Security or
change the time at which any Security may be redeemed or repurchased pursuant to Article
V or Section 3.11, whether through an amendment or waiver of provisions in the
covenants or otherwise; provided that amendments to the definition of “Change of Control”
shall not require the consent of each Holder affected;

     (5) make any Security payable in money other than that stated in the Security;

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     (6) impair the right of any Holder to receive payment of principal, premium, if any,
and interest on such Holder’s Securities on or after the due dates therefor or to institute
suit for the enforcement of any payment on or with respect to such Holder’s Securities;

     (7) make any change to the amendment provisions that require each Holder’s consent or
to the waiver provisions;

     (8) modify the Note Guarantees in any manner adverse to the Holders of the Securities;
or

     (9) modify the provisions of the Collateral Documents or the Intercreditor Agreement in
any manner materially adverse to the holders of the Securities or release all or
substantially all of the Collateral from the Lien under the Collateral Documents or the
Intercreditor Agreement other than in accordance with this Indenture, the Collateral
Documents or the Intercreditor Agreement.

          In addition, without the consent of holders of sixty-six and two-thirds percent (66 2/3%) in
aggregate principal amount of the Securities outstanding, an amendment or waiver may not (with
respect to any Securities held by a non-consenting holder) release Collateral other than in
accordance with this Indenture, the Collateral Documents and the Intercreditor Agreement.

          It shall not be necessary for the consent of the Holders under this Section 9.2 to
approve the particular form of any proposed amendment, supplement or waiver, but it shall be
sufficient if such consent approves the substance thereof. A consent to any amendment, supplement
or waiver under this Indenture by any Holder of the Securities given in connection with a tender or
exchange of such Holder’s Securities will not be rendered invalid by such tender or exchange.

          After an amendment or supplement under this Section becomes effective, the Company shall mail
to Holders a notice briefly describing such amendment or supplement. The failure to give such
notice to all Holders, or any defect therein, shall not impair or affect the validity of an
amendment or supplement under this Section 9.2.

          SECTION 9.3. Compliance with Trust Indenture Act. Every amendment or supplement to
this Indenture or the Securities shall comply with the TIA as then in effect.

          SECTION 9.4. Revocation and Effect of Consents and Waivers. A consent to an
amendment, supplement or a waiver by a Holder of a Security shall bind the Holder and every
subsequent Holder of that Security or portion of the Security that evidences the same debt as the
consenting Holder’s Security, even if notation of the consent or waiver is not made on the
Security. Any such Holder or subsequent Holder may revoke the consent or waiver as to such
Holder’s Security or portion of the Security if the Trustee receives the notice of revocation
before the date the amendment, supplement or waiver becomes effective or otherwise in accordance
with any related solicitation documents. After an amendment, supplement or waiver becomes
effective, it shall bind every Holder unless it makes a change described in any of clauses (1)
through (9) of Section 9.2, in which case the amendment, supplement, waiver or other action shall bind

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each Holder who has consented to it and every subsequent Holder that evidences the
same debt as the consenting Holder’s Securities. An amendment, supplement or waiver shall become
effective upon receipt by the Trustee of the requisite number of written consents under Section
9.1 or 9.2 as applicable.

          The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to give their consent or take any other action described above or
required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then
notwithstanding the immediately preceding paragraph, those Persons who were Holders at such record
date (or their duly designated proxies), and only those Persons, shall be entitled to give such
consent or to revoke any consent previously given or to take any such action, whether or not such
Persons continue to be Holders after such record date. No such consent shall become valid or
effective more than 120 days after such record date.

          SECTION 9.5. Notation on or Exchange of Securities. If an amendment, supplement or
waiver changes the terms of a Security, the Trustee may require the Holder of the Security to
deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding
the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so
determine, the Company in exchange for the Security shall issue and the Trustee shall authenticate
a new Security that reflects the changed terms. Failure to make the appropriate notation or to
issue a new Security shall not affect the validity of such amendment.

          SECTION 9.6. Trustee to Sign Amendments. The Trustee shall sign any amendment,
supplement or waiver authorized pursuant to this Article IX if the amendment, supplement or
waiver does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If
it does, the Trustee may but need not sign it. In signing such amendment, supplement or waiver the
Trustee shall be entitled to receive indemnity reasonably satisfactory to it and shall be provided
with, and (subject to Sections 7.1 and 7.2) shall be fully protected in relying
upon an Officers’ Certificate and an Opinion of Counsel stating that such amendment, supplement or
waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver
is the legal, valid and binding obligation of the Company and any Subsidiary Guarantors,
enforceable against them in accordance with its terms, subject to customary exceptions, and
complies with the provisions hereof (including Section 9.3).

ARTICLE X

NOTE GUARANTEES

          SECTION 10.1. Note Guarantees. Each Note Guarantor hereby fully, unconditionally and
irrevocably guarantees, as primary obligor and not merely as surety, jointly and severally with
each other Note Guarantor, to each Holder of the Securities and the Trustee the full and punctual
payment when due, whether at maturity, by acceleration, by redemption or otherwise, of the
principal of, premium, if any, and interest on the Securities and all other monetary obligations of
the Company under this Indenture (including interest accruing after the filing of any petition in
bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to
the Company or any Note Guarantor whether or not a claim for post-filing or post-petition interest
is allowed in such proceeding) (all the foregoing being hereinafter collectively called the
“Guarantor Obligations”). Each Note Guarantor further agrees (to the extent

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permitted by law) that the Guarantor Obligations may be extended or renewed, in whole or in
part, without notice or further assent from it, and that it will remain bound under this
Article X notwithstanding any extension or renewal of any Guarantor Obligation.

          Each Note Guarantor waives presentation to, demand of payment from and protest to the Company
of any of the Guarantor Obligations and also waives notice of protest for nonpayment. Each Note
Guarantor waives notice of any default under the Securities or the Guarantor Obligations.

          Each Note Guarantor further agrees that its Note Guarantee herein constitutes a Guarantee of
payment when due (and not a Guarantee of collection) and waives any right to require that any
resort be had by any Holder to any security held for payment of the Guarantor Obligations.

          Except as set forth under Section 10.2, the obligations of each Note Guarantor
hereunder shall not be subject to any reduction, limitation, impairment or termination for any
reason (other than payment of the Guarantor Obligations in full), including any claim of waiver,
release, surrender, alteration or compromise, and shall not be subject to any defense of setoff,
counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or
unenforceability of the Guarantor Obligations or otherwise. Without limiting the generality of the
foregoing, the Guarantor Obligations of each Note Guarantor herein shall not be discharged or
impaired or otherwise affected by (a) the failure of any Holder to assert any claim or demand or to
enforce any right or remedy against the Company or any other person under this Indenture, the
Securities, the other Securities Documents or any other agreement or otherwise; (b) any extension
or renewal of any thereof; (c) any rescission, waiver, amendment or modification of any of the
terms or provisions of this Indenture, the Securities, the other Securities Documents or any other
agreement; (d) the release of any security held by any Holder or the Trustee for the Guarantor
Obligations or any of them; (e) the failure of any Holder to exercise any right or remedy against
any other Note Guarantor, or (f) any change in the ownership of the Company; (g) by any default,
failure or delay, willful or otherwise, in the performance of the Guarantor Obligations, or (h) by
any other act or thing or omission or delay to do any other act or thing which may or might in any
manner or to any extent vary the risk of any Note Guarantor or would otherwise operate as a
discharge of such Note Guarantor as a matter of law or equity.

          Subject to the provisions of Section 3.13, each Note Guarantor agrees that its Note
Guarantee herein shall remain in full force and effect until payment in full of all the Guarantor
Obligations or such Note Guarantor is released from its Note Guarantee upon the merger or the sale
of all the Capital Stock or assets of the Note Guarantor in compliance with Section 10.2.
Each Note Guarantor further agrees that its Note Guarantee herein shall continue to be effective or
be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of,
premium, if any, or interest on any of the Guarantor Obligations is rescinded or must otherwise be
restored by any Holder upon the bankruptcy or reorganization of the Company or otherwise.

          In furtherance of the foregoing and not in limitation of any other right which any Holder has
at law or in equity against any Note Guarantor by virtue hereof, upon the failure of the Company to
pay any of the Guarantor Obligations when and as the same shall become due,

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whether at maturity, by
acceleration, by redemption or otherwise, each Note Guarantor hereby
promises to and will, upon receipt of written demand by the Trustee, forthwith pay, or cause
to be paid, in cash, to the Holders an amount equal to the sum of (i) the unpaid amount of such
Guarantor Obligations then due and owing and (ii) accrued and unpaid interest on such Guarantor
Obligations then due and owing (but only to the extent not prohibited by law) (including interest
accruing after the filing of any petition in bankruptcy or the commencement of any insolvency,
reorganization or like proceeding relating to the Company or any Note Guarantor whether or not a
claim for post-filing or post-petition interest is allowed in such proceeding).

          Each Note Guarantor further agrees that, as between such Note Guarantor, on the one hand, and
the Holders, on the other hand, (x) the maturity of the Guarantor Obligations guaranteed hereby may
be accelerated as provided in this Indenture for the purposes of its Note Guarantee herein,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the Guarantor Obligations guaranteed hereby and (y) in the event of any such declaration of
acceleration of such Guarantor Obligations, such Guarantor Obligations (whether or not due and
payable) shall forthwith become due and payable by the Note Guarantor for the purposes of this Note
Guarantee.

          Each Note Guarantor also agrees to pay any and all costs and expenses (including reasonable
attorneys’ fees and expenses) incurred by the Trustee or the Holders in enforcing any rights under
this Section.

          SECTION 10.2. Limitation on Liability; Termination, Release and Discharge.

          (a) Any term or provision of this Indenture to the contrary notwithstanding, the obligations
of each Note Guarantor hereunder will be limited to the maximum amount as will, after giving effect
to all other contingent and fixed liabilities of such Note Guarantor (including any guarantees of
Lenders Debt and after giving effect to any collections from or payments made by or on behalf of
any other Note Guarantor in respect of the obligations of such other Note Guarantor under its Note
Guarantee or pursuant to its contribution obligations under this Indenture, result in the
obligations of such Note Guarantor under its Note Guarantee not constituting a fraudulent
conveyance or fraudulent transfer under federal or state law and not otherwise being void or
voidable under any similar laws affecting the rights of creditors generally.

          (b) Upon the sale or disposition of a Note Guarantor (by merger, consolidation, the sale of
its Capital Stock or the sale of all or substantially all of its assets (other than by lease)), and
whether or not the Note Guarantor is the surviving corporation in such transaction, to a Person
which is not the Company or a Restricted Subsidiary of the Company (other than a Receivables
Entity), such Note Guarantor will be automatically released from all its obligations under this
Indenture and its Note Guarantee and the Registration Rights Agreement and such Note Guarantee will
terminate; provided, however, that (x) the sale or other disposition is in compliance with this
Indenture, including Sections 3.5, 3.9 and 4.1, and (y) all the obligations
of such Note Guarantor under all Credit Facilities and related documentation and any other
agreements relating to any other Indebtedness of the Company or its Restricted Subsidiaries
terminate upon consummation of such transaction.

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          (c) Each Note Guarantor shall be deemed released from all its obligations under this Indenture
and the Registration Rights Agreement and such Note Guarantee shall terminate (x) upon the legal defeasance of the Securities pursuant to the provisions of Article
VIII hereof or (y) in accordance with Section 3.13 of this Indenture.

          (d) Each Note Guarantor shall be released from its obligations under this Indenture, its Note
Guarantee and the Registration Rights Agreement if the Company designates such Note Guarantor as an
Unrestricted Subsidiary and such designation complies with the other applicable provisions of this
Indenture.

          (e) Each Note Guarantor shall be released from its obligations under this Indenture, its Note
Guarantee and the Registration Rights Agreement upon satisfaction and discharge of this Indenture
pursuant to Section 8.1(a).

          (f) The Trustee shall promptly execute and deliver an appropriate instrument prepared and
delivered to it at the expense of the Company evidencing any such release upon receipt of a request
by the Company accompanied by an Officers’ Certificate certifying as to the compliance with this
Section 11.2.

          SECTION 10.3. Right of Contribution. Each Note Guarantor hereby agrees that to the
extent that any Note Guarantor shall have paid more than its proportionate share of any payment
made on the obligations under the Note Guarantees, such Note Guarantor shall be entitled to seek
and receive contribution from and against the Company, or any other Note Guarantor who has not paid
its proportionate share of such payment. The provisions of this Section 11.3 shall in no
respect limit the obligations and liabilities of each Note Guarantor to the Trustee and the Holders
and each Note Guarantor shall remain liable to the Trustee and the Holders for the full amount
guaranteed by such Note Guarantor hereunder.

          SECTION 10.4. No Subrogation. Notwithstanding any payment or payments made by each
Note Guarantor hereunder, no Note Guarantor shall be entitled to be subrogated to any of the rights
of the Trustee or any Holder against the Company or any other Note Guarantor or any collateral
security or guarantee or right of offset held by the Trustee or any Holder for the payment of the
Guarantor Obligations, nor shall any Note Guarantor seek or be entitled to seek any contribution or
reimbursement from the Company or any other Note Guarantor in respect of payments made by such Note
Guarantor hereunder, until all amounts owing to the Trustee and the Holders by the Company on
account of the Guarantor Obligations are paid in full. If any amount shall be paid to any Note
Guarantor on account of such subrogation rights at any time when all of the Guarantor Obligations
shall not have been paid in full, such amount shall be held by such Note Guarantor in trust for the
Trustee and the Holders, segregated from other funds of such Note Guarantor, and shall, forthwith
upon receipt by such Note Guarantor, be turned over to the Trustee in the exact form received by
such Note Guarantor (duly indorsed by such Note Guarantor to the Trustee, if required), to be
applied against the Guarantor Obligations.

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ARTICLE XI

COLLATERAL

          SECTION 11.1. Collateral and Collateral Documents. The Company hereby appoints The
Bank of New York Mellon Trust Company, N.A., to act as Collateral Agent, and
the Collateral Agent shall have the privileges, powers and immunities as set forth herein and
in the Collateral Documents.

          The due and punctual payment of the principal of and interest on the Securities when and as
the same shall be due and payable, whether on an Interest Payment Date, at maturity, by
acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of and
interest on the Securities and performance of all other obligations of the Company, the Note
Guarantors, the Trustee or the Collateral Agent under this Indenture, the Securities, the
Intercreditor Agreement and the Collateral Documents, according to the terms hereunder or
thereunder, shall be secured as provided in the Collateral Documents, which define the terms of the
Liens that secure the obligations, subject to the terms of the Intercreditor Agreement. The
Trustee and the Company hereby acknowledge and agree that the Collateral Agent holds the Collateral
in trust for the benefit of the Noteholder Secured Parties, in each case pursuant to the terms of
the Collateral Documents and the Intercreditor Agreement. Each holder, by accepting a Note,
consents and agrees to the terms of the Collateral Documents (including the provisions providing
for the possession, use, release and foreclosure of Collateral) and the Intercreditor Agreement as
the same may be in effect or may be amended from time to time in accordance with their terms and
this Indenture and the Intercreditor Agreement, and authorizes and directs the Collateral Agent to
enter into the Collateral Documents and the Intercreditor Agreement and to perform its obligations
and exercise its rights thereunder in accordance therewith; provided, however, that if any of the
provisions of the Collateral Documents limit, qualify or conflict with the duties imposed by the
provisions of the TIA, the TIA shall control. The Company shall deliver to the Collateral Agent
copies of all documents pursuant to the Collateral Documents, and will do or cause to be done all
such acts and things as may be reasonably required by the next sentence of this Section
11.1, to assure and confirm to the Collateral Agent the security interest in the Collateral
contemplated hereby, by the Collateral Documents or any part thereof, as from time to time
constituted, so as to render the same available for the security and benefit of this Indenture and
of the Securities secured hereby, according to the intent and purposes herein expressed. The
Company shall, and shall cause the Subsidiaries of the Company to take any and all actions
reasonably required to cause the Collateral Documents to create and maintain, as security for the
obligations under the Securities, the Indenture and the Collateral Documents, a valid and
enforceable perfected Lien and security interest in and on all of the Collateral (subject to the
terms of the Intercreditor Agreement), in favor of the Collateral Agent for the benefit of the
Noteholder Secured Parties. The Company shall, and shall cause the Subsidiaries of the Company to,
and each Subsidiary shall, make all filings (including filings of continuation statements and
amendments to financing statements that may be necessary to continue the effectiveness of such
financing statements) and take all other actions as are necessary or required by the Collateral
Documents to maintain (at the sole cost and expense of the Company and its Subsidiaries) the
security interest created by the Collateral Documents in the Collateral (other than with respect to
any Collateral the security interest in which is not required to be perfected under the Collateral
Documents) as a

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perfected security interest with the priority set forth in the Intercreditor
Agreement and subject only to Permitted Liens.

          SECTION 11.2. Release of Collateral.

          (a) Subject to 11.3 hereof, Collateral may be released from the Lien and security
interest created by the Collateral Documents at any time or from time to time in accordance with
the provisions of the Collateral Documents, the Intercreditor Agreement or as provided hereby. The
Company and the Note Guarantors will be entitled to a release of property and other assets included
in the Collateral from the Liens securing the Securities and the Guarantees, and the Trustee
(subject to its receipt of an Officers’ Certificate and Opinion of Counsel as provided below) shall
release, or instruct the Collateral Agent to release, as applicable, the same from such Liens at
the Company’s sole cost and expense, under one or more of the following circumstances:

     (1) to enable the deposition of such property and assets to the extent not prohibited
under Section 3.5;

     (2) the release of Excess Proceeds that remain unexpended after the conclusion of an
Asset Disposition Offer conducted in accordance with the terms of this Indenture;

     (3) in the case of a Note Guarantor that is released from its Note Guarantee with
respect to the Securities, the release of the property and assets of such Note Guarantor;

     (4) pursuant to an amendment or waiver in accordance with Article IV of this
Indenture;

     (5) payment in full of the principal of, together with accrued and unpaid interest on,
the notes and all other Obligations under the Indenture, the Note Guarantees under the
Indenture and the Collateral Documents that are due and payable at or prior to the time such
principal, together with accrued and unpaid interest, are paid; or

     (6) if the Securities have been discharged or defeased pursuant to Article IV
or Article XIII.

          (b) Upon receipt of an Officers’ Certificate and an Opinion of Counsel certifying that all
conditions precedent under this Indenture and the Collateral Documents, if any, to such release
have been met and any necessary or proper instruments of termination, satisfaction or release
prepared by the Company, the Trustee shall, or shall cause the Collateral Agent to, execute,
deliver or acknowledge (at the Company’s expense) such instruments or releases to evidence the
release of any Collateral permitted to be released pursuant to this Indenture or the Collateral
Documents or the Intercreditor Agreement. Neither the Trustee nor the Collateral Agent shall be
liable for any such release undertaken in good faith in reliance upon any such Officers’
Certificate or Opinion of Counsel, and notwithstanding any term hereof or in any Collateral
Document to the contrary, the Trustee and Collateral Agent shall not be under any obligation to

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release any such Lien and security interest, or execute and deliver any such instrument of release,
satisfaction or termination, unless and until it receives such Officers’ Certificate and Opinion of
Counsel.

          (c) The second-priority Lien on the Credit Agreement Priority Collateral securing the
Securities will terminate and be released automatically if the first-priority Liens on the Credit
Agreement Priority Collateral are released by the collateral agent under the Senior Secured Credit
Agreement in connection with a sale, transfer or disposition of Credit Agreement Priority
Collateral that occurs after the occurrence of an event of default under the Senior Secured Credit
Agreement permitting the acceleration of the Lenders Debt or in connection with the foreclosure of,
or other exercise of remedies with respect to, such Credit Agreement Priority Collateral by the
collateral agent under the Senior Secured Credit Agreement (except with respect to any proceeds of
such sale, transfer or disposition that remain after the Discharge of Credit Agreement
Obligations).

          SECTION 11.3. Certificates of the Trustee. In the event that the Company wishes to
release Collateral in accordance with this Indenture, the Collateral Documents and the
Intercreditor Agreement at a time when the Trustee is not itself also the Collateral Agent and the
Company has delivered the certificates and documents required by the Collateral Documents and
Section 11.3 hereof, if TIA § 314(d) is applicable to such releases (the applicability of
which will be established to the reasonable satisfaction of the Trustee), the Trustee will
determine whether it has received all documentation required by TIA § 314(d) in connection with
such release (which determination may be based upon the Opinion of Counsel hereafter described)
and, based on an Opinion of Counsel pursuant to Sections 12.4 and 12.5, will
deliver a certificate to the Collateral Agent setting forth such determination. The Trustee,
however, shall have no duty to confirm the legality, genuineness, accuracy, contents or validity of
such documents (or any signature appearing therein), its sole duty being to certify its receipt of
such documents which, on their face (and assuming that they are what they purport to be), conform
to TIA § 314(d).

          SECTION 11.4. Suits to Protect the Collateral. Subject to the provisions of
Article VII hereof and the Intercreditor Agreement, the Trustee in its sole discretion and
without the consent of the holders, on behalf of the holders, may or may direct the Collateral
Agent to take all actions it deems necessary or appropriate in order to:

     (a) enforce any of the terms of the Collateral Documents; and

     (b) collect and receive any and all amounts payable in respect of the obligations
hereunder..

          Subject to the provisions of the Collateral Documents and the Intercreditor Agreement, the
Trustee shall have power to institute and to maintain such suits and proceedings as it may deem
expedient to prevent any impairment of the Collateral by any acts which may be unlawful or in
violation of any of the Collateral Documents or this Indenture, and such suits and proceedings as
the Trustee, in its sole discretion, may deem expedient to preserve or protect its interests and
the interests of the holders in the Collateral (including power to institute and maintain suits or
proceedings to restrain the enforcement of or compliance with any legislative or other governmental
enactment, rule or order that may be unconstitutional or otherwise invalid if the

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enforcement of,
or compliance with, such enactment, rule or order would impair the Lien on the Collateral or be
prejudicial to the interests of the holders or the Trustee). Nothing in this Section 11.5
shall be considered to impose any such duty or obligation to act on the part of the Trustee.

          The Trustee or the Collateral Agent shall not be responsible for the existence, genuineness or
value (or diminution of value) of any of the Collateral or for the validity, perfection, priority
or enforceability of the Liens in any of the Collateral, whether impaired by operation of law or by
reason of any action or omission to act on its part hereunder, except to the extent such action or
omission constitutes negligence, bad faith or willful misconduct on the part of the Trustee or the
Collateral Agent, for the validity or sufficiency of the Collateral or any agreement or assignment
contained therein, for the validity of the title of the Company to the Collateral, for insuring the
Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral or
otherwise as to the maintenance of the Collateral. The Trustee or the Collateral Agent shall have
no responsibility for recording, filing, re-recording or refiling any financing statement,
continuation statement, document, instrument or other notice in any public office at any time or
times or to otherwise take any action to perfect or maintain the perfection of any security
interest granted to it under the Collateral Documents or otherwise.

          SECTION 11.5. Authorization of Receipt of Funds by the Trustee Under the Collateral
Documents. Subject to the provisions of the Intercreditor Agreement, the Trustee is authorized
to receive any funds for the benefit of the holders distributed under the Collateral Documents, and
to make further distributions of such funds to the holders according to the provisions of this
Indenture.

          SECTION 11.6. Purchase Protected. In no event shall any purchaser in good faith of
any property purported to be released hereunder be bound to ascertain the authority of the
Collateral Agent or the Trustee to execute the release or to inquire as to the satisfaction of any
conditions required by the provisions hereof for the exercise of such authority or to see to the
application of any consideration given by such purchaser or other transferee; nor shall any
purchaser or other transferee of any property or rights permitted by this Article XI to be
sold be under any obligation to ascertain or inquire into the authority of the Company or the
applicable Note Guarantor to make any such sale or other transfer.

          SECTION 11.7. Powers Exercisable by Receiver or Trustee. In case the Collateral shall
be in the possession of a receiver or trustee, lawfully appointed, the powers conferred in this
Article XI upon the Company or a Note Guarantor with respect to the release, sale or other
disposition of such property may be exercised by such receiver or trustee, and an instrument signed
by such receiver or trustee shall be deemed the equivalent of any similar instrument of the Company
or a Note Guarantor or of any officer or officers thereof required by the provisions of this
Article XI; and if the Trustee shall be in the possession of the Collateral under any
provision of this Indenture, then such powers may be exercised by the Trustee.

          SECTION 11.8. Release upon Termination of the Company’s Obligations. In the event
that the Company delivers to the Trustee, in form and substance reasonably acceptable to it, an
Officers’ Certificate certifying that (i) payment in full of the principal of, together with
accrued and unpaid interest (including additional interest, if any) on, the Securities and all
other

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obligations under this Indenture, the Note Guarantees and the Collateral Documents that are
due and payable at or prior to the time such principal, together with accrued and unpaid interest,
are paid or (ii) the Company shall have exercised its Legal Defeasance option or its Covenant
Defeasance option, in each case in compliance with the provisions of Article VIII, the
Trustee shall
deliver to the Company and the Collateral Agent a notice stating that the Trustee, on behalf
of the holders, disclaims and gives up any and all rights it has in or to the Collateral (other
than with respect to funds held by the Trustee pursuant to Article VIII), and any rights it
has under the Collateral Documents, and upon receipt by the Collateral Agent of such notice, the
Collateral Agent shall be deemed not to hold a Lien on the Collateral on behalf of the Trustee and
shall do or cause to be done all acts reasonably necessary to release such Lien as soon as is
reasonably practicable.

          SECTION 11.9. Collateral Agent.

          (a) The Trustee and each of the holders by acceptance of the Securities hereby designates and
appoints the Collateral Agent as its agent under this Indenture, the Collateral Documents and the
Intercreditor Agreement and the Trustee and each of the holders by acceptance of the Securities
hereby irrevocably authorizes the Collateral Agent to take such action on its behalf under the
provisions of this Indenture, the Collateral Documents and the Intercreditor Agreement and to
exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by
the terms of this Indenture, the Collateral Documents and the Intercreditor Agreement, together
with such powers as are reasonably incidental thereto. The Collateral Agent agrees to act as such
on the express conditions contained in this Section 11.10. The provisions of this
Section 11.10 are solely for the benefit of the Collateral Agent and none of the Trustee,
any of the holders or the Company or any of the Note Guarantors shall have any rights as a third
party beneficiary of any of the provisions contained herein other than as expressly provided in
Section 11.3. Notwithstanding any provision to the contrary contained elsewhere in this Indenture,
the Collateral Documents and the Intercreditor Agreement, the Collateral Agent shall not have any
duties or responsibilities, except those expressly set forth herein, nor shall the Collateral Agent
have or be deemed to have any fiduciary relationship with the Trustee, any holder or the Company or
any Note Guarantor, and no implied covenants, functions, responsibilities, duties, obligations or
liabilities shall be read into this Indenture, the Collateral Documents and the Intercreditor
Agreement or otherwise exist against the Collateral Agent. Without limiting the generality of the
foregoing sentence, the use of the term “agent” in this Indenture with reference to the Collateral
Agent is not intended to connote any fiduciary or other implied (or express) obligations arising
under agency doctrine of any applicable law. Instead, such term is used merely as a matter of
market custom, and is intended to create or reflect only an administrative relationship between
independent contracting parties. Except as expressly otherwise provided in this Indenture, the
Collateral Agent shall have and may use its sole discretion with respect to exercising or
refraining from exercising any discretionary rights or taking or refraining from taking any actions
which the Collateral Agent is expressly entitled to take or assert under this Indenture, the
Collateral Documents and the Intercreditor Agreement, including the exercise of remedies pursuant
to Article VI, and any action so taken or not taken shall be deemed consented to by the
Trustee and the holders.

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          (b) The Collateral Agent may execute any of its duties under this Indenture, the Collateral
Documents or the Intercreditor Agreement by or through agents, employees or attorneys-in-fact and
shall be entitled to advice of counsel concerning all matters pertaining to such duties. The
Collateral Agent shall not be responsible for the negligence or
misconduct of any agent, employee or attorney-in-fact that it selects as long as such selection was made without
negligence or willful misconduct.

          (c) None of the Collateral Agent or any of its agents or employees shall (i) be liable for any
action taken or omitted to be taken by any of them under or in connection with this Indenture or
the transactions contemplated hereby (except for its own gross negligence or willful misconduct) or
under or in connection with any Collateral Document or the Intercreditor Agreement or the
transactions contemplated thereby (except for its own negligence or willful misconduct), or (ii) be
responsible in any manner to the Trustee or any holder for any recital, statement, representation,
warranty, covenant or agreement made by the Company or any Note Guarantor, contained in this or any
Indenture, or in any certificate, report, statement or other document referred to or provided for
in, or received by the Collateral Agent under or in connection with, this or any other Indenture,
the Collateral Documents or the Intercreditor Agreement, or the validity, effectiveness,
genuineness, enforceability or sufficiency of this or any other Indenture and the Collateral
Documents, the Collateral Documents or the Intercreditor Agreement, or for any failure of the
Company or any Note Guarantor or any other party to this Indenture, the Collateral Documents or the
Intercreditor Agreement to perform its obligations hereunder or thereunder. None of the Collateral
Agent or any of its agents or employees shall be under any obligation to the Trustee or any holder
to ascertain or to inquire as to the observance or performance of any of the agreements contained
in, or conditions of, this or any other Indenture, the Collateral Documents or the Intercreditor
Agreement or to inspect the properties, books or records of the Company or any Note Guarantor.

          (d) The Collateral Agent shall be entitled to rely, and shall be fully protected in relying,
upon any writing, resolution, notice, consent, certificate, affidavit, letter, telegram, facsimile,
telex or telephone message, statement or other document or conversation believed by it to be
genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon
advice and statements of legal counsel (including, without limitation, counsel to the Company or
any Note Guarantor), independent accountants and other experts and advisors selected by the
Collateral Agent. The Collateral Agent shall be fully justified in failing or refusing to take any
action under this or any other Indenture, the Collateral Documents or the Intercreditor Agreement
unless it shall first receive such advice or concurrence of the Trustee as it deems appropriate
and, if it so requests, it shall first be indemnified to its satisfaction by the holders against
any and all liability and expense which may be incurred by it by reason of taking or continuing to
take any such action. The Collateral Agent shall in all cases be fully protected in acting, or in
refraining from acting, under this or any other Indenture, the Collateral Documents or the
Intercreditor Agreement in accordance with a request or consent of the Trustee and such request and
any action taken or failure to act pursuant thereto shall be binding upon all of the holders.

          (e) The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of
any Default or Event of Default, unless the Collateral Agent shall have

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received written notice
from the Trustee or the Company referring to this Indenture, describing such Default or Event of
Default and stating that such notice is a “notice of default.” The Collateral Agent shall take
such action with respect to such Default or Event of Default as may be requested by the Trustee in
accordance with Article VI (subject to Section 11.10); provided,
however, that unless and until the Collateral Agent has received any such request, the Collateral
Agent may (but shall not be obligated to) take such action, or refrain from taking such action,
with respect to such Default or Event of Default as it shall deem advisable.

          (f) The Bank of New York Mellon Trust Company, N.A. and its Affiliates (and any successor
Collateral Agent and its Affiliates) may make loans to, issue letters of credit for the account of,
accept deposits from, acquire equity interests in and generally engage in any kind of banking,
trust, financial advisory, underwriting or other business with the Company and the Note Guarantors
as though it was not the Collateral Agent hereunder and without notice to or consent of the
Trustee. The Trustee and the Holders acknowledge that, pursuant to such activities, The Bank of
New York Mellon Trust Company, N.A. or its Affiliates (and any successor Collateral Agent and its
Affiliates) may receive information regarding the Company and the Note Guarantors (including
information that may be subject to confidentiality obligations in favor of the Company and the
Guarantors) and acknowledge that the Collateral Agent shall not be under any obligation to provide
such information to the Trustee or the holders. Nothing herein shall impose or imply any
obligation on the part of The Bank of New York Mellon Trust Company, N.A. (or any successor
Collateral Agent) to advance funds.

          (g) The Collateral Agent may resign at any time upon thirty (30) days’ prior written notice to
the Trustee and the Company, such resignation to be effective upon the acceptance of a successor
agent to its appointment as Collateral Agent. If the Collateral Agent resigns under this
Indenture, the Trustee, subject to the consent of the Company (which shall not be unreasonably
withheld and which shall not be required during a continuing Event of Default), shall appoint a
successor Collateral Agent. If no successor notes collateral agent is appointed prior to the
intended effective date of the resignation of the Collateral Agent (as stated in the notice of
resignation), the Collateral Agent may appoint, after consulting with the Trustee, subject to the
consent of the Company (which shall not be unreasonably withheld and which shall not be required
during a continuing Event of Default), a successor notes collateral agent. If no successor notes
collateral agent is appointed and consented to by the Company pursuant to the preceding sentence
within thirty (30) days after the intended effective date of resignation (as stated in the notice
of resignation), the Collateral Agent shall be entitled to petition at the expense of the Company a
court of competent jurisdiction to appoint a successor. Upon the acceptance of its appointment as
successor notes collateral agent hereunder, such successor notes collateral agent shall succeed to
all the rights, powers and duties of the retiring Collateral Agent, and the term “Collateral Agent”
shall mean such successor notes collateral agent, and the retiring Collateral Agent’s appointment,
powers and duties as the Collateral Agent shall be terminated. After the retiring Collateral
Agent’s resignation hereunder, the provisions of this Section 11.10 (and Section
11.12) shall continue to inure to its benefit and the retiring Collateral Agent shall not by
reason of such resignation be deemed to be released from liability as to any actions taken or
omitted to be taken by it while it was the Collateral Agent under this Indenture.

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          (h) The Trustee shall initially act as Collateral Agent and shall be authorized to appoint
co-Collateral Agents as necessary in its sole discretion. Except as otherwise explicitly provided
herein or in the Collateral Documents or the Intercreditor Agreement, neither the Collateral Agent
nor any of its officers, directors, employees or agents shall be liable for failure to demand,
collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any
other Person or to take any other action whatsoever with regard to the Collateral or any part
thereof. The Collateral Agent shall be accountable only for amounts that it actually receives as a
result of the exercise of such powers, and neither the Collateral Agent nor any of its officers,
directors, employees or agents shall be responsible for any act or failure to act hereunder, except
for its own willful misconduct, gross negligence or bad faith.

          (i) The Trustee, as such and as Collateral Agent, is authorized and directed to (i) enter into
the Collateral Documents, (ii) enter into the Intercreditor Agreement, (iii) bind the holders on
the terms as set forth in the Collateral Documents and the Intercreditor Agreement and (iv) perform
and observe its obligations under the Collateral Documents and the Intercreditor Agreement.
guarantee

          (j) The Trustee agrees that it shall not (and shall not be obliged to), and shall not instruct
the Collateral Agent to, unless specifically requested to do so by a majority of the holders, take
or cause to be taken any action to enforce its rights under this Indenture or against the Company
and the Note Guarantors, including the commencement of any legal or equitable proceedings, to
foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

          If at any time or times the Trustee shall receive (i) by payment, foreclosure, set-off or
otherwise, any proceeds of Collateral or any payments with respect to the obligations arising
under, or relating to, this Indenture, except for any such proceeds or payments received by the
Trustee from the Collateral Agent pursuant to the terms of this Indenture, or (ii) payments from
the Collateral Agent in excess of the amount required to be paid to the Trustee pursuant to Article
Five, the Trustee shall promptly turn the same over to the Collateral Agent, in kind, and with such
endorsements as may be required to negotiate the same to the Collateral Agent.

          (k) The Collateral Agent shall have no obligation whatsoever to the Trustee or any of the
holders to assure that the Collateral exists or is owned by the Company and the Note Guarantors or
is cared for, protected or insured or has been encumbered, or that the Collateral Agent’s Liens
have been properly or sufficiently or lawfully created, perfected, protected, maintained or
enforced or are entitled to any particular priority, or to determine whether all of the Grantor’s
property constituting collateral intended to be subject to the Lien and security interest of the
Collateral Documents has been properly and completely listed or delivered, as the case may be, or
the genuineness, validity, marketability or sufficiency thereof or title thereto, or to exercise at
all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue
exercising, any of the rights, authorities and powers granted or available to the Collateral Agent
pursuant to this Indenture, any Collateral Document or the Intercreditor Agreement, it being
understood and agreed that in respect of the Collateral, or any act, omission or event related
thereto, the Collateral Agent may act in any manner it may deem appropriate, in its sole discretion
given

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the Collateral Agent’s own interest in the Collateral, and that the Collateral Agent shall
have no other duty or liability whatsoever to the Trustee or any holder as to any of the foregoing.

          (l) If the Company (i) incurs any obligations in respect of Lenders Debt at any time when no
intercreditor agreement is in effect or at any time when Indebtedness constituting Lenders Debt
entitled to the benefit of an existing Intercreditor Agreement is concurrently
retired, and (ii) delivers to the Collateral Agent an Officers’ Certificate so stating and
requesting the Collateral Agent to enter into an intercreditor agreement (on substantially the same
terms as the Intercreditor Agreement) in favor of a designated agent or representative for the
holders of the Lenders Debt so incurred, the Collateral Agent shall (and is hereby authorized and
directed to) enter into such intercreditor agreement (at the sole expense and cost of the Company,
including legal fees and expenses of the Collateral Agent), bind the holders on the terms set forth
therein and perform and observe its obligations thereunder.

          (m) No provision of this Indenture, the Intercreditor Agreement or any Collateral Document
shall require the Collateral Agent (or the Trustee) to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder or thereunder or to
take or omit to take any action hereunder or thereunder or take any action at the request or
direction of holders (or the Trustee in the case of the Collateral Agent) if it shall have
reasonable grounds for believing that repayment of such funds is not assured to it.

          (n) The Collateral Agent (i) shall not be liable for any action it takes or omits to take in
good faith which it reasonably believes to be authorized or within its rights or powers, or for any
error of judgment made in good faith by a Responsible Officer, unless it is proved that the
Collateral Agent was grossly negligent in ascertaining the pertinent facts, (ii) shall not be
liable for interest on any money received by it except as the Collateral Agent may agree in writing
with the Company (and money held in trust by the Collateral Agent need not be segregated from other
funds except to the extent required by law), and (iii) may consult with counsel of its selection
and the advice or opinion of such counsel as to matters of law shall be full and complete
authorization and protection from liability in respect of any action taken, omitted or suffered by
it in good faith and in accordance with the advice or opinion of such counsel. The grant of
permissive rights or powers to the Collateral Agent shall not be construed to impose duties to act.

          SECTION 11.10. Designations. Except as provided in the next sentence, for purposes of the
provisions hereof and of the Intercreditor Agreement requiring the Company to designate
Indebtedness for the purposes of the terms “Lenders Debt” and “Pari Passu Secured Indebtedness” or
any other such designations hereunder or under the Intercreditor Agreement, any such designation
shall be sufficient if the relevant designation is set forth in writing, signed on behalf of the
Company by an Officer and delivered to the Trustee, the Collateral Agent and the collateral agent
under the Senior Secured Credit Agreement. For all purposes hereof and the of Intercreditor
Agreement, the Company hereby designates the Obligations pursuant to the Credit Agreement as
“Lenders Debt.”

          SECTION 11.11. Compensation and Indemnification. The Collateral Agent shall be entitled to
the compensation and indemnification set forth in Section 7.7 (with the references to the
Trustee therein being deemed to refer to the Collateral Agent).

          SECTION 11.12. Intercreditor Agreement and Collateral Documents. The Trustee and
Collateral Agent are each hereby directed and authorized to execute and deliver the Intercreditor
Agreement and any Collateral Documents in which it is named as a party. It is hereby expressly
acknowledged and agreed that, in doing so, the Trustee and the Collateral Agent are not responsible
for the terms or contents of such agreements, or for the validity or enforceability thereof, or the
sufficiency thereof for any purpose. Whether or not so expressly stated
therein,

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in entering into, or taking (or forbearing from) any action under or pursuant to, the
Intercreditor Agreement, or any other Collateral Documents, the Trustee and Collateral Agent each
shall have all of the rights, immunities, indemnities and other protections granted to it under
this Indenture (in addition to those that may be granted to it under the terms of such other
agreement or agreements).

          SECTION 11.13. Further Assurances.

          (a) The Company and each Guarantor shall execute any and all further documents, financing
statements, agreements and instruments, and take all further action that may be required under
applicable law, or that the Collateral Agent may reasonably request, in order to grant, preserve,
protect and perfect the validity and priority of the security interests and Liens created or
intended to be created by the Collateral Documents in the Collateral. In addition, from time to
time, the Company will promptly secure the obligations under this Indenture, the Collateral
Documents and the Intercreditor Agreement by pledging or creating, or causing to be pledged or
created, perfected security interests and Liens with respect to the Collateral. Such security
interests and Liens will be created under the Collateral Documents and other security agreements,
mortgages, deeds of trust and other instruments and documents in form and substance substantially
consistent with the Collateral Documents as in effect immediately after the Issue Date.

          (b) As necessary, or upon reasonable request of the Collateral Agent or the Trustee, the
Company and Guarantors shall, at their sole expense, execute, acknowledge and deliver such
documents and instruments and take such other actions as may be necessary or as the Collateral
Agent or the Trustee may reasonably request to create, protect, assure, perfect, transfer and
confirm the Liens, benefits, property and rights conveyed or intended to be conveyed by this
Indenture or the Collateral Documents for the benefit of the holders and the Trustee, including
with respect to after-acquired Collateral.

          (c) Within the time period set forth on Schedule VI, the Company and the Guarantors shall
deliver, furnish and/or cause to be delivered or furnished, all of the Mortgages and documents
related thereto as set forth on Schedule 11.13.

          SECTION 11.14. Impairment of Security Interest. Subject to the rights of the holders of
Permitted Liens, the Company will not, and will not permit any of its Restricted Subsidiaries to,
take or knowingly or negligently omit to take any action which action or omission would reasonably
be expected to have the result of materially impairing the security interest with respect to the
Collateral for the benefit of Noteholder Secured Parties, subject to limited exceptions. The
Company shall not amend, modify or supplement, or permit or consent to any amendment, modification
or supplement of, the Collateral Documents in any way that would be
adverse to the Holders of the
Securities in any material respect, except as permitted by Articles IX or XI, the
Collateral Documents or the Intercreditor Agreement.

          SECTION 11.15. Information Regarding Collateral.

          (a) The Company will furnish to the Collateral Agent, with respect to the Company or any
Guarantor, prompt written notice of any change in such Person’s (i) name, (ii)
jurisdiction of organization or formation, (iii) identity or corporate structure or (iv)
Organizational

-121-

 

Identification Number. The Company and the Guarantors agree not to effect or permit
any change referred to in the preceding sentence unless all filings have been made under the
Uniform Commercial Code or otherwise that are required in order for the Collateral Agent to
continue at all times following such change to have a valid, legal and perfected security interest
in all the Collateral. The Company also agrees promptly to notify the Collateral Agent if any
material portion of the Collateral is damaged, destroyed or condemned.

          (b) Each year, at the time of delivery of the annual financial statements with respect to the
preceding fiscal year, the Company shall deliver to the Trustee a certificate of a financial
officer setting forth the information required pursuant to the schedules required by the Collateral
Documents or confirming that there has been no change in such information since the date of the
prior annual financial statements.

          SECTION 11.16. Maintenance of Properties and Insurance.

          (a) The Company shall cause all material properties owned by or leased (including, without
limitation, these properties subject to a Mortgage) by it or any Guarantor used or useful to the
conduct of its business or the business of any Guarantor, taken as a whole, to be maintained and
kept in normal condition, repair and working order (subject to ordinary wear and tear) and supplied
with all necessary equipment and shall cause to be made all repairs, renewals, replacements, and
betterments thereof, all as in its judgment may be reasonably necessary, so that the business
carried on in connection therewith may be operated in the ordinary course.

          (b) The Company shall maintain, and shall cause the Guarantors to maintain, insurance against
loss or damage of the kinds customarily insured against by corporations similarly situated and
owning like properties, with reputable insurers or with the government of the United States of
America, or an agency or instrumentality thereof, in such amounts, with such deductibles,
retentions, self-insured amounts and co-insurance provisions, and by such methods as shall be
customary for corporations similarly situated in the industry in which the Company or such Note
Guarantor, as the case may be, is then conducting business. Without limiting the foregoing, such
insurance coverages shall include without limitation (a) physical hazard on an “all risk” basis
coverage and explosion insurance in an amount equal to the full replacement cost of the fully
operational Mortgaged Property, (b) commercial general liability insurance against claims for
bodily injury, death or property damage occurring on, in or about the Mortgaged Property and the
Collateral located thereon or used in connection therewith, (c) workers’ compensation insurance as
required by applicable law, and (d) if the Mortgaged Property is located in an area identified by
the Federal Emergency Management Agency as an area having special flood hazards pursuant to the
National Flood Insurance Act of 1968 or the Flood Disaster Protection
Act of 1973, each as amended
or any successor laws, flood insurance in compliance with applicable laws.

ARTICLE XII

MISCELLANEOUS

          SECTION 12.1. Trust Indenture Act Controls. If and to the extent that any provision
of this Indenture limits, qualifies or conflicts with another provision which is required
to be included in this Indenture by the TIA, the provision required by the TIA shall control.
Each Note

-122-

 

Guarantor in addition to performing its obligations under its Note Guarantee shall
perform such other obligations as may be imposed upon it with respect to this Indenture under the
TIA.

          SECTION 12.2. Notices. Any notice or communication shall be in writing and delivered
in person, sent by facsimile, delivered by commercial courier service or mailed by first-class
mail, postage prepaid, addressed as follows:

if to the Parent, the Company or any Subsidiary Guarantor:

Libbey Glass Inc.

300 Madison Ave.

P.O. Box 10060

Toledo, Ohio 43699-0060

Fax: (419) 325-2585

Attention: Susan Kovach, Esq.

with copies to:

Christopher Lueking, Esq.

Latham & Watkins LLP

233 South Wacker Drive, Suite 5800

Chicago, IL 60606

if to the Trustee:

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street, Suite 1020

Chicago, IL 60602

Attention: Global Corporate Trust

with copies to:

John B. Duer, Esq.

Bryan Cave LLP

1290 Avenue of the Americas

New York NY 10104

-123-

 

          The Company or the Trustee by written notice to the other may designate additional or
different addresses for subsequent notices or communications.

          Any notice or communication to the Company or the Note Guarantors shall be deemed to have been
given or made as of the date so delivered if personally delivered; when receipt is acknowledged, if
telecopied; and five calendar days after mailing if sent by registered or certified mail, postage
prepaid (except that a notice of change of address shall not be deemed to have been given until
actually received by the addressee).

          Any notice or communication mailed to a registered Holder shall be mailed to the Holder at the
Holder’s address as it appears on the registration books of the Registrar and shall be sufficiently
given if so mailed within the time prescribed.

          Failure to mail a notice or communication to a Holder or any defect in it shall not affect its
sufficiency with respect to other Holders. If a notice or communication is mailed in the manner
provided above, it is duly given, whether or not the addressee receives it, except that notices to
the Trustee shall be effective only upon receipt.

          SECTION 12.3. Communication by Holders with other Holders. Holders may communicate
pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or
the Securities. The Company, the Trustee, the Registrar and anyone else shall have the protection
of TIA § 312(c).

          SECTION 12.4. Certificate and Opinion as to Conditions Precedent. Upon any request or
application by the Company to the Trustee to take or refrain from taking any action under this
Indenture, the Company shall furnish to the Trustee:

     (1) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee stating that, in the opinion of the signers, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with; and

     (2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
stating that, in the opinion of such counsel, all such conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been complied with.

          SECTION 12.5. Statements Required in Certificate or Opinion. Each certificate or
opinion with respect to compliance with a covenant or condition provided for in this Indenture
(other than pursuant to Section 3.18) shall include:

     (1) a statement that the individual making such certificate or opinion has read such
covenant or condition;

     (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

-124-

 

     (3) a statement that, in the opinion of such individual, he has made such examination
or investigation as is necessary to enable him to express an informed opinion as to whether
or not such covenant or condition has been complied with; and

     (4) a statement as to whether or not, in the opinion of such individual, such covenant
or condition has been complied with.

          In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officers’
Certificate or on certificates of public officials.

          SECTION 12.6. When Securities Disregarded. In determining whether the Holders of the
required aggregate principal amount of Securities have concurred in any direction, waiver or
consent, Securities owned by the Company, any Note Guarantor or any Affiliate of them shall be
disregarded and deemed not to be outstanding, except that, for the purpose of determining whether
the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities
which the Trustee actually knows are so owned shall be so disregarded. Also, subject to the
foregoing, only Securities outstanding at the time shall be considered in any such determination.

          SECTION 12.7. Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by, or at meetings of, Holders. The Registrar and the Paying Agent may
make reasonable rules for their functions.

          SECTION 12.8. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or
other day on which commercial banking institutions are authorized or required to be closed in New
York, New York. If a payment date is a Legal Holiday, payment shall be made on the next succeeding
day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a
regular record date is a Legal Holiday, the record date shall not be affected.

          SECTION 12.9. Governing Law. THIS INDENTURE, THE SECURITIES, THE COLLATERAL DOCUMENTS
AND THE INTERCREDITOR AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES SITTING IN THE BOROUGH OF MANHATTAN, THE
CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE
SECURITIES OR THE NOTE GUARANTEES. However, the mortgages will be governed by, and construed in
accordance with, the laws of the states in which the applicable premises are located.

          SECTION 12.10. No Recourse Against Others. No director, officer, employee,
incorporator or stockholder of the Parent, the Company or any of the Subsidiary Guarantors, as
such, shall have any liability for any obligations of the Company or such Note Guarantor under the
Securities, this Indenture, a Guarantee, the Collateral Documents or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder of Securities by
accepting a Security waives and releases all such liability to the extent permitted by applicable
law. The waiver and release are part of the consideration for issuance of the Securities. Such

-125-

 

waiver may not be effective to waive liabilities under the federal securities laws, and it is the
view of the SEC that such a waiver is against public policy.

          SECTION 12.11. Successors. All agreements of the Company and each Note Guarantor in
this Indenture and the Securities shall bind their respective successors. All agreements of the
Trustee in this Indenture shall bind its successors.

          SECTION 12.12. Multiple Originals. The parties may sign any number of copies of this
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. One signed copy is enough to prove this Indenture.

          SECTION 12.13. Qualification of Indenture. The Company shall qualify this Indenture
under the TIA in accordance with the terms and conditions of the Registration Rights Agreement.
The Trustee shall be entitled to receive from the Company any such Officers’ Certificates, Opinions
of Counsel or other documentation as it may reasonably request in connection with any such
qualification of this Indenture under the TIA.

          SECTION 12.14. Table of Contents; Headings. The table of contents, cross-reference
sheet and headings of the Articles and Sections of this Indenture have been inserted for
convenience of reference only, are not intended to be considered a part hereof and shall not modify
or restrict any of the terms or provisions hereof.

          SECTION 12.15. [Reserved].

          SECTION 12.16. Force Majeure. In no event shall the Trustee be responsible or liable
for any failure or delay in the performance of its obligations hereunder arising out of or caused
by, directly or indirectly, forces beyond its control, including strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software and hardware) services; it being understood that the Trustee shall use
reasonable efforts which are consistent with accepted practices in the banking industry to resume
performance as soon as practicable under the circumstances.

          SECTION 12.17. Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT.

          SECTION 12.18. Severability. In case any one or more of the provisions in this
Indenture or in the Securities shall be held invalid, illegal or unenforceable, in any respect for
any reason, the validity, legality and enforceability of any such provision in every other respect
and of the remaining provisions shall not in any way be affected or impaired thereby, it being
intended that all of the provisions hereof shall be enforceable to the full extent permitted by
law.

-126-

 

          IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
the date first above written.

	 	 	 	 	 
	 	LIBBEY GLASS INC.

 	 
	 	By:  	/s/ Susan A. Kovach
 	 
	 	 	Name:  	Susan A. Kovach 	 
	 	 	Title:  	Vice President, General Counsel &

Secretary 	 

Signature Page to Indenture

 

 

	 	 	 	 	 
	 	LIBBEY INC.

 	 
	 	By:  	/s/ Susan A. Kovach
 	 
	 	 	Name:  	Susan A. Kovach 	 
	 	 	Title:  	Vice President, General Counsel &

Secretary 	 

Signature Page to Indenture

 

 

	 	 	 	 	 
	 	SYRACUSE CHINA COMPANY

WORLD TABLEWARE INC.

LGA4 CORP.

LGA3 CORP.

THE DRUMMOND GLASS COMPANY

LGC CORP.

TRAEX COMPANY

LIBBEY.COM LLC

LGFS INC.

LGAC LLC

 	 
	 	By:  	/s/ Susan A. Kovach
 	 
	 	 	Name:  	Susan A. Kovach 	 
	 	 	Title:  	Vice President, General Counsel &

Secretary 	 

Signature Page to Indenture

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST

COMPANY, N.A., as Trustee

 	 
	 	By:  	/s/ Linda E. Garcia
 	 
	 	 	Name:  	Linda E. Garcia 	 
	 	 	Title:  	Vice President 	 
	 
	 	THE BANK OF NEW YORK MELLON TRUST

COMPANY, N.A., as Collateral Agent

 	 
	 	By:  	/s/ Linda E. Garcia
 	 
	 	 	Name:  	Linda E. Garcia 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Indenture

 

 

SCHEDULE 3.8

EXISTING AFFILIATE TRANSACTIONS

 

 

SCHEDULE 11.13

Post-Closing

1.   Within forty-five (45) days after the Issue Date, the Trustee and the Collateral Agent shall
have received each of the following documents, which shall be reasonably satisfactory in form and
substance to the Trustee, the Collateral Agent and each of their respective counsel, as applicable:

     (i) Insurance. Policies or certificates of insurance and endorsements thereto
(including evidence of flood insurance, if applicable) covering the property and assets of
the Company and the Note Guarantors, which policies or certificates and endorsements shall
reflect the Collateral Agent for its benefit and the benefit of the Trustee and the Holders,
as additional insured and loss payee and mortgagee and shall otherwise bear endorsements of
the character reasonably acceptable to the Trustee and the Collateral Agent.

     (ii) Mortgages. Fully executed counterparts of Mortgages which Mortgages shall cover
each Mortgaged Property (as defined in the Intercreditor), together with evidence that
counterparts of all the Mortgages have been delivered to the Title Company (as hereinafter
defined) for recording in all places to the extent necessary to effectively create a valid
and enforceable first priority mortgage lien on each Mortgaged Property in favor of the
Collateral Agent for its benefit and the benefit of the Trustee, Collateral Agent and the
Holders, securing the obligations of the applicable mortgagor under this Indenture, the
Notes, the Guarantees and the Collateral Documents, subject to the Permitted Encumbrances.

     (iii) Counsel Opinions. Opinions addressed to the Trustee and the Collateral Agent,
the holders of the Notes, and their respective successors and assigns, of local counsel in
each jurisdiction where Mortgaged Property is located and opinions of counsel for the
Company regarding enforceability of the Mortgages and such other customary real estate
opinions as the Collateral Agent reasonably requires.

     (iv) Title Insurance. With respect to each Mortgage encumbering any Mortgaged
Property, a policy of title insurance (or commitment to issue such a policy having the
effect of a policy of title insurance) insuring (or committing to insure) the lien of such
Mortgage as a valid and enforceable first priority mortgage or deed of trust lien on the
Mortgaged Property described therein, in an amount not less than 110% of the fair market
value of such Mortgaged Property as reasonably determined, in good faith, by the Company and
reasonably acceptable to the Initial Purchasers (such policies collectively, the “Mortgage
Policies”), issued by the Title Company, which reasonably assures the Collateral Agent that
the Mortgage on such Mortgaged Property is valid and enforceable first

 

 

priority mortgage lien on such respective Mortgaged Property, free and clear of all defects
and encumbrances except Permitted Encumbrances and such Mortgage Policies shall otherwise be
in form and substance reasonably satisfactory to the Trustee and the Collateral Agent and
shall have been supplemented by endorsements reasonably requested by the Trustee and the
Collateral Agent and available at commercially reasonable premium costs (including, without
limitation, to the extent applicable and available in the applicable jurisdiction where the
Mortgaged Property is located endorsements on matters relating to usury, first loss, last
dollar, non-imputation, public road access, doing business, variable rate, contiguity (where
appropriate), “tie-in” or “cluster,” environmental lien, address, subdivision, survey, any
special use of the Mortgaged Property or improvements or equipment related thereto, and
so-called comprehensive coverage over covenants and restrictions); the Company will obtain,
or cause to be obtained such coinsurance or direct access re-insurance as shall be
reasonably acceptable to the the Trustee and the Collateral Agent.

     (v) Survey. If required by the Title Company to issue the Mortgage Policies without
standard survey exceptions, with respect to each Mortgaged Property, an American Land Title
Association/American Congress on Surveying and Mapping form surveys, for which all necessary
fees (where applicable) have been paid, and dated no more than thirty (30) days before the
Closing Date, certified to the Collateral Agent and the Title Company in a manner reasonably
satisfactory to the Trustee and the Collateral Agent, by a land surveyor duly registered and
licensed in the state in which the Mortgaged Property described in such survey is located
and reasonably acceptable to the Trustee and Collateral Agent, and which surveys shall be
sufficient for the title company issuing the Mortgage Policy with respect to such Mortgaged
Property to remove all standard survey exceptions from such Mortgage Policy.

     (vi) Leases. With respect to each Mortgaged Property, copies of all material leases,
subleases, occupancy agreements (including all amendments, extensions, replacements,
renewals, modifications and/or guarantees thereof), whether or not of record and whether now
in existence or hereafter entered into, affecting the use or occupancy of all or any portion
of any Mortgaged Property, if any, and with respect to such leases, the Company or the
Guarantors, as applicable, shall use commercially reasonable efforts to obtain subordination
agreements from the relevant parties to ensure the priority of the Mortgages as required in
paragraph (ii) above.

     (vii) Fixture Filings. To the extent required by applicable law, proper fixture
filings under the Uniform Commercial Code on Form UCC-1 for filing in the appropriate
jurisdiction in which the Mortgaged Properties are located, desirable to perfect the
security interests in fixtures purported to be created by the Mortgages in favor of the
Collateral Agent for its benefit and the benefit of the Trustee and the Holders.

     (viii) Mortgaged Property Indemnification. With respect to each Mortgaged Property,
such affidavits, certificates, instruments of indemnification and other items (including a
so-called “gap” indemnification) as shall be reasonably required to induce the Title Company
to issue the Mortgage Policies and endorsements contemplated above.

 

 

     (ix) Collateral Fees and Expenses. Evidence reasonably acceptable to the Trustee and
the Collateral Agent of payment by the Company of all Mortgage Policy premiums, search and
examination charges, mortgage recording taxes, documentary, stamp, intangible and other
taxes, fees, charges, costs and expenses required for the recording of the Mortgages,
fixture filings and issuance of the Mortgage Policies referred to above.

     (x) Flood Insurance. A completed “Life-of-Loan” Federal Emergency Management Agency
Standard Flood Hazard Determination with respect to each Mortgaged Property located in the
United States, together with (a) a notice about special flood hazard area status and flood
disaster assistance duly executed by the Company and/or Guarantor, as applicable, and (b)
evidence of insurance with respect to those Mortgaged Properties containing buildings
determined to be in a special flood hazard area.

     (xi) Additional Information. Evidence that all other action that the Initial
Purchasers, the Trustee and the Collateral Agent may deem reasonably necessary or desirable
in order to create valid first priority and subsisting lien on each property described in
the Mortgages has been taken.

          The terms that follow, when used in this Schedule, shall have the meanings indicated.

          “Permitted Encumbrances” shall mean (i) survey exceptions, encumbrances, easements or
reservations of, or rights of others for, licenses, rights-of-way, sewers, electric lines,
telegraph and telephone lines and other similar purposes, or zoning or other similar restrictions
(including minor defects or irregularities in title and similar encumbrances) as to the use of real
properties or liens incidental to the conduct of the business of such person or to the ownership of
its properties which were not incurred in connection with debt and which do not individually or in
the aggregate materially adversely affect the value of the property affected thereby or materially
impair the use of such property in the operation of the business of such person, (ii) general real
estate taxes and assessments not yet delinquent or being contested in good faith for which adequate
reserves are maintained in accordance with GAAP; provided that the Company and Guarantors shall
bond over or take any other action necessary or required by the Title Company to delete any
exception to title relating to unpaid taxes and assessments, (iii) other liens (not securing
Indebtedness (as defined in the Pricing Disclosure Package and the Offering Memorandum)) incidental
to the conduct of the business of the Company or any of its subsidiaries, as the case may be, or
the ownership of their assets which do not individually or in the aggregate materially adversely
affect the value of the property affected thereby or materially impair the use of such property in
the operation of the business of the Company or its subsidiaries, (iv) any warehousemen’s,
materialmen’s, landlord’s or other similar liens arising by law for sums not then due and payable,
or which, if due and payable, are being contested in good faith and with respect to which adequate
reserves are being maintained, to the extent required by GAAP; provided that the Company and
Guarantors shall take any and all commercially reasonable actions necessary or required by the
Title Company to delete any exception to title relating thereto, (v) leases, subleases, licenses or
sublicenses granted to others in the ordinary course of business so long as such leases, subleases,
licenses or sublicenses are subordinate in all respects to the liens granted and evidenced by the
Collateral Documents to the extent required by the Initial Purchasers

 

 

and which do not materially interfere with the ordinary conduct of the business of the Company or any
subsidiaries and do not secure any Indebtedness and (vi) liens arising from UCC financing
statements regarding equipment financing and proceeds thereof so long as such liens do not extend
to an assets or property other than the assets or properties financed with such equipment
financings or the proceeds thereof and (vii) such other similar items as the Initial Purchasers may
consent to (such consent not to be unreasonably withheld).

          “Title Company” shall mean First American Title Insurance Company, or such other title insurer
as may be chosen from time to time by the Company in its reasonable judgment; provided that Chicago
Title Insurance or First American Title Insurance Company shall be acceptable to the Initial
Purchasers.

2. A Dutch law pledge of shares in the capital of Libbey International C.V. by February 18, 2010.

3. (a) Deliver tax and judgment lien searches, bankruptcy and pending lawsuit searches or
equivalent reports or searches, lien notices or comparable documents result for the Company in (x)
New York, New York and Perrysburg, Ohio..

     (b) with respect to any identified in the search pursuant to clause (a) above, the Company
shall promptly, and in any event by March 15, 2010, take all commercially reasonable efforts to
effect the release of any Liens that the Collateral Agent shall reasonably request

 

 

EXHIBIT A

[FORM OF FACE OF SERIES A NOTE]

[Applicable Restricted Securities Legend]

[Depository Legend, if applicable]

[OID Legend, if applicable]

	 	 	 
	No.                     

	 	Principal Amount $      , as
	 

	 	revised by the Schedule of Increases and
	 

	 	Decreases in Global Security attached hereto
	 

	 	CUSIP NO. [144A: 52989L AD1/REGS U52873 AB9]
	 

	 	ISIN: [144A: US52989LAD10/REGS
	 

	 	USU52873AB96]

LIBBEY GLASS INC.

10% Senior Secured Note, Series A due 2015

          Libbey Glass Inc., a Delaware corporation, promises to pay to Cede & Co., or its registered
assigns, the principal sum of [                                        ] DOLLARS, as revised by the Schedule of Increases
and Decreases in Global Security attached hereto, on February 15, 2015.

     Interest Payment Dates: February 15 and August 15, commencing on August 15, 2010

     Record Dates: February 1 and August 1

          Additional provisions of this Security are set forth on the other side of this Security.

A-1

 

	 	 	 	 	 
	 	LIBBEY GLASS INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 	 	 	 	 
	 	Date:  	 	 

A-2

 

	 	 	 	 	 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee, certifies that this is one of the

Securities referred to in the within mentioned Indenture.

	 	 	 	 
	 	 
	By:  	 	 
	 	Authorized Signatory 	 
	 
	Date: 	 	 

A-3

 

	 	 	 	 	 

[FORM OF REVERSE SIDE OF SERIES A NOTE]

LIBBEY GLASS INC.

10% Senior Secured Note, Series A, due 2015

1. Interest

          Libbey Glass Inc., a Delaware corporation (such corporation, and its successors and assigns
under the Indenture hereinafter referred to, being herein called the “Company”), promises
to pay interest on the principal amount of this Security at a rate per annum equal to 10%,
commencing on August 15, 2010, until maturity and shall pay additional interest, if any, payable
pursuant to Section 2(d) of the Registration Rights Agreement referred to below. The Company shall
make each interest payment in cash semi-annually in arrears on February 15 and August 15 of each
year, commencing August 15, 2010, or if any such day is not a Business Day, on the next succeeding
Business Day (each an “Interest Payment Date”). Notwithstanding the foregoing, if any such
Interest Payment Date (other than an Interest Payment Date at maturity) would otherwise be a day
that is not a Business Day, then the interest payment will be postponed to the next succeeding
Business Day (except if that Business Day falls in the next succeeding calendar month, then
interest will be paid on the immediately preceding Business Day). If the maturity date of the
Securities is a day that is not a Business Day, all payments to be made on such day will be made on
the next succeeding Business Day, with the same force and effect as if made on the maturity date,
and no additional interest will be payable as a result of such delay in payment. Interest on this
Security will accrue from the most recent date to which interest has been paid or, if no interest
has been paid, from February 8, 2010; provided that the first Interest Payment Date shall be August
15, 2010. The Company shall pay interest on overdue principal, and on overdue premium, if any
(plus interest on such interest to the extent lawful), at the rate borne by the Securities to the
extent lawful.

          The interest rate on the Securities will in no event be higher than the maximum rate permitted
by applicable law.

2. Method of Payment

          By no later than 10:00 a.m. (New York City time) on the date on which any principal of,
premium, if any, or interest on any Security is due and payable, the Company shall irrevocably
deposit with the Trustee or the Paying Agent money sufficient to pay such principal, premium, if
any, and/or interest. The Company will pay interest (except Defaulted Interest) to the Persons who
are registered Holders of Securities at the close of business on the February 1 or August 1 next
preceding the interest payment date even if Securities are cancelled, repurchased or redeemed after
the record date and on or before the interest payment date. Holders must surrender Securities to a
Paying Agent to collect principal payments. The Company will pay principal, premium, if any, and
interest in money of the United States that at the time of payment is legal tender for payment of
public and private debts. Payments in respect of Securities represented by a Global Security
(including principal, premium, if any, and interest) will be made by the transfer of immediately
available funds to the accounts specified by The Depository

A-4

 

Trust Company or any successor depository. The Company will make all payments in respect of a
Definitive Security (including principal, premium, if any, and interest) by mailing a check to the
registered address of each Holder thereof; provided, however, that payments on the Securities may
also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of
Securities, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the
United States if such Holder elects payment by wire transfer by giving written notice to the
Trustee or the Paying Agent to such effect designating such account no later than 15 days
immediately preceding the relevant due date for payment (or such other date as the Trustee may
accept in its discretion).

3. Paying Agent and Registrar

          Initially, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”) will act as
Trustee, Paying Agent and Registrar. The Company may appoint and change any Paying Agent,
Registrar or co-registrar without notice to any Holder. Any of the domestically organized
Restricted Subsidiaries may act as Paying Agent, Registrar or co-registrar.

4. Indenture

          The Company issued the Securities under an Indenture dated as of February 8, 2010 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company and the Trustee. The terms of the Securities include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture
Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the
“Act”). Capitalized terms used herein and not defined herein have the meanings ascribed
thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture,
and Holders are referred to the Indenture and the Act for a statement of those terms.

          The Securities are general senior secured obligations of the Company. The aggregate principal
amount of Securities that may be authenticated and delivered under the Indenture is unlimited.
This Security is one of the Senior Secured Notes, Series A, due 2015 referred to in the Indenture.
The Securities include (i) $400,000,000 aggregate principal amount of the Company’s Senior Secured
Notes, Series A, due 2015 issued under the Indenture on February 8, 2010 (herein called
“Initial Securities”), (ii) if and when issued, additional Senior Secured Notes, Series A,
due 2015 or Senior Secured Notes, Series B, due 2015 of the Company that may be issued from time to
time under the Indenture subsequent to February 8, 2010 (herein called “Additional
Securities”) and (iii) if and when issued, the Company’s Senior Secured Notes, Series B, due
2015 that may be issued from time to time under the Indenture in exchange for Initial Securities or
Additional Securities in an offer registered under the Securities Act as provided in the
Registration Rights Agreement (herein called “Exchange Securities”). The Securities and
Exchange Securities are treated as a single class of securities under the Indenture. The Indenture
imposes certain limitations on the incurrence of indebtedness, the making of restricted payments,
the sale of assets and subsidiary stock, the incurrence of certain liens, affiliate transactions,
the sale of capital stock of restricted subsidiaries, the entering into of agreements that restrict
distributions from restricted subsidiaries and the consummation of mergers and consolidations. The
Indenture also imposes requirements with respect to the provision of financial information and the
provision of guarantees of the Securities by certain subsidiaries.

A-5

 

          To guarantee the due and punctual payment of the principal, premium, if any, and interest
(including post-filing or post-petition interest) on the Securities and all other amounts payable
by the Company under the Indenture and the Securities when and as the same shall be due and
payable, whether at maturity, by acceleration or otherwise, according to the terms of the
Securities and the Indenture, the Note Guarantors have fully, unconditionally and irrevocably
Guaranteed (and future guarantors, together with the Note Guarantors, will fully, unconditionally
and irrevocably Guarantee), jointly and severally, to each Holder of the Securities and the Trustee
the Guarantor Obligations pursuant to Article X of the Indenture on a senior basis.

5. Redemption

          Except as set forth below, the Securities will not be redeemable at the option of the Company
prior to August 15, 2012. On and after such date, the Securities will be redeemable, at the
Company’s option, in whole or in part, at any time from time to time, upon not less than 30 nor
more than 60 days’ prior notice, at the following redemption prices (expressed in percentages of
principal amount), plus accrued and unpaid interest, if any, to the applicable redemption date
(subject to the right of Holders of record on the relevant record date to receive interest due on
the relevant interest payment date), if redeemed during the 12-month period commencing on August 15
of the years set forth below:

	 	 	 	 	 
	Period	 	Percentage	 
	2012
	 	 	105.000	%
	2013
	 	 	102.500	%
	2014 and thereafter
	 	 	100.000	%

          In addition, at any time and from time to time prior to August 15, 2012, the Company may
redeem in the aggregate up to 35% of the original principal amount of the Securities (after giving
effect to any future issuance of Additional Securities) with the Net Cash Proceeds of one or more
Equity Offerings at a redemption price (expressed as a percentage of principal amount) of 110% of
the principal amount thereof, plus any accrued and unpaid interest or additional interest to the
redemption date (subject to the right of Holders of record on the relevant record date to receive
interest due on the relevant interest payment date); provided, however, that at least 65% of the
original principal amount of the Securities (after giving effect to any future issuance of
Additional Securities) must remain outstanding after each such redemption; provided further, that
each such redemption occurs within 90 days of the date of closing of such Equity Offering.

          In addition, at any time and from time to time prior to August 15, 2012, but not more than
once in any twelve-month period, the Company may redeem in the aggregate, up to 10% of the original
aggregate principal amount of the notes at a redemption price (expressed as a percentage of
principal amount thereof) of 103%, plus any accrued and unpaid interest and additional interest to
the applicable redemption date (subject to the right of holders of record on the relevant record
date to receive interest due on the relevant interest payment date).

          If the optional redemption date is on or after an interest record date and on or before the
related interest payment date, the accrued and unpaid interest, if any, will be paid to the

A-6

 

Person in whose name the Security is registered at the close of business on such record date,
and no additional interest will be payable to Holders whose Securities will be subject to
redemption by the Company.

          In the case of any partial redemption, selection of the Securities for redemption will be made
by the Trustee in compliance with the requirements of the principal national securities exchange,
if any, on which the Securities are listed or, if the Securities are not listed, then on a pro rata
basis, by lot or by such other method as the Trustee in its sole discretion shall deem to be fair
and appropriate, although no Securities of $2,000 in original principal amount or less will be
redeemed in part. Any such notice to the Trustee may be cancelled at any time prior to notice of
such redemption being mailed to any Holder and shall thereby be void and of no effect. If any
Security is to be redeemed in part only, the notice of redemption relating to such Security shall
state the portion of the principal amount thereof to be redeemed. A new Security in principal
amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof
upon cancellation of the original Security. On and after the redemption date, interest will cease
to accrue on Securities or portions thereof called for redemption as long as the Company has
deposited with the Paying Agent funds in satisfaction of the applicable redemption price pursuant
to the Indenture.

6. Repurchase Provisions

          If a Change of Control occurs, unless the Company has exercised its right to redeem all of the
Securities as described under paragraph 4 of the Securities, then such Change of Control shall
constitute a triggering event which shall trigger the obligation of the Company to offer to
repurchase from each Holder all or any part (equal to $2,000 or an integral multiple of $1,000 in
excess thereof) of such Holder’s Securities at a purchase price in cash equal to 101% of the
principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase
(subject to the right of Holders of record on the relevant record date to receive interest due on
the relevant interest payment date) as provided in, and subject to the terms of, the Indenture.

7. Denominations; Transfer; Exchange

          The Securities are in registered form without coupons in denominations of principal amount of
$2,000 and whole multiples of $1,000. A Holder may transfer or exchange Securities in accordance
with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate
endorsements or transfer documents and to pay a sum sufficient to cover any transfer tax or other
governmental taxes and fees required by law or permitted by the Indenture. The Registrar need not
register the transfer of or exchange of any Security for a period beginning 15 days before the
mailing of a notice of an offer to repurchase or redeem Securities and ending at the close of
business on the day of such mailing. The Registrar shall not be required to register the transfer
of or exchange of any Security selected for redemption.

8. Persons Deemed Owners

          The registered Holder of this Security may be treated as the owner of it for all purposes.

A-7

 

9. Unclaimed Money

          Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay
to the Company upon request any money held by them for the payment of principal of or premium, if
any, or interest on the Securities that remains unclaimed by the Holders thereof for two years,
and, thereafter, Holders entitled to the money must look to the Company for payment as unsecured
general creditors.

10. Defeasance

          Subject to certain exceptions and conditions set forth in the Indenture, the Company at any
time may terminate some or all of its obligations under the Securities and the Indenture if the
Company deposits with the Trustee money or U.S. Government Obligations for the payment of
principal, premium, if any, and interest on the Securities to redemption or maturity, as the case
may be.

11. Amendment, Supplement, Waiver

          Subject to certain exceptions set forth in the Indenture, (i) the Indenture, the Securities,
the Collateral Documents, the Intercreditor Agreement and any Note Guarantee may be amended or
supplemented by the Company, the Note Guarantors and the Trustee with the written consent of the
Holders of at least a majority in principal amount of the then outstanding Securities and (ii) any
default (other than with respect to nonpayment (except in accordance with Section 6.4 of
the Indenture)) or noncompliance with any provision may be waived with the written consent of the
Holders of a majority in principal amount of the then outstanding Securities and except as
otherwise set forth in the Indenture, in each case other than in respect of a provision that cannot
be amended without the written consent of each Holder affected. Subject to certain exceptions set
forth in the Indenture, without the consent of any Holder, the Company, the Note Guarantors and the
Trustee may amend or supplement the Indenture or the Securities cure any ambiguity, omission,
defect or inconsistency; provide for the assumption by a successor corporation of the obligations
of the Company or any Note Guarantor under the Indenture; provide for uncertificated Securities in
addition to or in place of certificated Securities (provided that the uncertificated Securities are
issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the
uncertificated Securities are described in Section 163(f)(2)(B) of the Code); add Guarantees with
respect to the Securities or release a Subsidiary Guarantor upon its designation as an Unrestricted
Subsidiary; provided, however, that the designation is in accordance with the applicable provisions
of the Indenture; secure the Securities with additional Collateral; add to the covenants of the
Company and the Restricted Subsidiaries for the benefit of the Holders or surrender any right or
power conferred upon the Company or any Restricted Subsidiary; make any change that does not
adversely affect the rights of any Holder; comply with any requirement of the SEC in connection
with the qualification of the Indenture under the TIA; release a Note Guarantor from its
obligations under its Note Guarantee or the Indenture in accordance with the applicable provisions
of the Indenture; provide for the appointment of a successor trustee, provided that the successor
trustee is otherwise qualified and eligible to act as such under the terms of the Indenture; make,
complete or confirm any Collateral permitted or required by the Collateral Documents or any release
of Liens in favor of the Collateral Agent on the Collateral, as provided under Section 11.3
or otherwise in accordance with this Indenture, the Collateral

A-8

 

Documents or the Intercreditor Agreement; provide for the issuance of Additional
Securities (and the grant of security for the benefit of the Additional Securities) in accordance
with the terms of this Indenture and provide for the issuance of Exchange Securities that shall
have terms substantially identical in all respects to the Securities (except that the transfer
restrictions contained in the Securities shall be modified or eliminated as appropriate) and that
shall be treated, together with any outstanding Securities, as a single class of securities;
conform the text of the Indenture, the Securities or the Guarantees to any provision of the
“Description of the Notes” section of the Offering Memorandum to the extent that such provision in
the “Description of the Notes” was intended to be a verbatim recitation of a provision of the
Indenture, the Securities or the Note Guarantees; add additional secured parties to the extent
Liens securing obligations held by such parties are permitted under this Indenture; provide for the
succession of any parties to the Collateral Documents (and other amendments that are administrative
or ministerial in nature) in connection with an amendment, renewal, extension, substitution,
refinancing, restructuring, replacement, supplementing or other modification from time to time of
any agreement in accordance with the terms of this Indenture and the relevant Collateral Document;
provide for a reduction in the minimum denominations of the Securities; or comply with the rules of
any applicable securities depositary.

12. Defaults and Remedies

          Under the Indenture, Events of Default include (each of which are more specifically described
in the Indenture) (i) default in any payment of interest or additional interest (as required by the
Registration Rights Agreement) on any Security when due, continued for 30 days; (ii) default in the
payment of principal of or premium, if any, on any Security when due at its Stated Maturity, upon
optional redemption, upon required repurchase, upon declaration or otherwise; (iii) failure by the
Company or any Note Guarantor to comply with its obligations under Section 4.1 of the
Indenture; (iv) failure by the Company or any Note Guarantor to comply for 45 days after notice
with any of its obligations under Article III of the Indenture (in each case, other than a
failure to purchase Securities, which will constitute an Event of Default under clause (ii), and a
failure to comply with Section 4.1 of the Indenture, which will constitute an Event of
Default under clause (iii)); (v) failure by the Company or any Note Guarantor to comply for 60 days
after notice as provided below with its other agreements contained in the Indenture; (vi) default
under any mortgage, indenture or instrument under which there may be issued or by which there may
be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted
Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted
Subsidiaries), other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such
Indebtedness or guarantee now exists, or is created after the Issue Date, which default (1) is
caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness prior
to the expiration of the grace period provided in such Indebtedness or (2) results in the
acceleration of such Indebtedness prior to its maturity, and, in each case, the principal amount of
any such Indebtedness, together with the principal amount of any other such Indebtedness under
which there has been a payment default or the maturity of which has been so accelerated, aggregates
$20.0 million or more; (vii) certain events set forth in Section 6.1(7) of the Indenture of
bankruptcy, insolvency or reorganization of the Company or a Significant Subsidiary or group of
Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial
statements for the Company and its Restricted Subsidiaries), would
constitute

A-9

 

a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law; (viii)
failure by the Company or any Significant Subsidiary or group of Restricted Subsidiaries that,
taken together (as of the latest audited consolidated financial statements for the Company and its
Restricted Subsidiaries) would constitute a Significant Subsidiary to pay final judgments
aggregating in excess of $20.0 million (net of any amounts that a reputable and creditworthy
insurance company has acknowledged liability for in writing), which judgments are not paid,
discharged or stayed for a period of 60 days; (ix) any Subsidiary Guarantee, Collateral Document or
obligation under the Intercreditor Agreement of a Significant Subsidiary or group of Restricted
Subsidiaries that taken together as of the latest audited consolidated financial statements for the
Company and its Restricted Subsidiaries would constitute a Significant Subsidiary ceases to be in
full force and effect (except as contemplated by the terms of the Indenture) or is declared null
and void in a judicial proceeding or any Subsidiary Guarantor that is a Significant Subsidiary or
group of Subsidiary Guarantors that taken together as of the latest audited consolidated financial
statements of the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary
denies or disaffirms its obligations under the Indenture, or its Subsidiary Guarantee any
Collateral Document or the Intercreditor Agreement; or (x) with respect to any Collateral having a
fair market value in excess of $20.0 million, individually or in the aggregate, (A) the security
interest under the Collateral Documents, at any time, ceases to be in full force and effect for any
reason other than in accordance with their terms and the terms of this Indenture and other than the
satisfaction in full of all obligations under this Indenture and discharge of this Indenture, (B)
any security interest created thereunder or under this Indenture is declared invalid or
unenforceable or (C) the Company or any Note Guarantor asserts, in any pleading in any court of
competent jurisdiction, that any such security interest is invalid or unenforceable. However, a
default under clauses (iv) and (v) will not constitute an Event of Default until the Trustee or the
Holders of 25% in principal amount of the outstanding Securities notify the Company of the default
and the Company does not cure such default within the time specified in clauses (iv) and (v) hereof
after receipt of such notice.

          If an Event of Default (other than an Event of Default described in (vii) hereof) occurs and
is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in principal
amount of the outstanding Securities by notice to the Company and the Trustee, may, and the Trustee
at the request of such Holders shall, declare the principal of, premium, if any, and accrued and
unpaid interest, if any, on all the Securities to be due and payable. If an Event of Default
described in (vii) hereof occurs and is continuing, the principal of, premium, if any, and accrued
and unpaid interest on all the Securities will become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holders.

          Holders may not enforce the Indenture or the Securities except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Securities unless it receives indemnity or
security reasonably satisfactory to it. Subject to certain limitations, Holders of a majority in
principal amount of the Securities may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Holders notice of any continuing Default or Event of Default (except
a Default or Event of Default in payment of principal, premium, if any, or interest) if it
determines in good faith that withholding notice is in their interest.

A-10

 

13. Trustee Dealings with the Company

          Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Securities and may
otherwise deal with and collect obligations owed to it by the Company, the Subsidiary Guarantors or
their Affiliates and may otherwise deal with the Company, the Subsidiary Guarantors or their
Affiliates with the same rights it would have if it were not Trustee.

14. No Recourse Against Others

          No director, officer, employee, incorporator or stockholder of the Parent, the Company or any
of the Subsidiary Guarantors, as such, shall have any liability for any obligations of the Company
under the Securities, the Indenture or any Guarantee or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder of Securities by accepting a
Security waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Securities. Such waiver may not be effective to waive liabilities under the federal securities laws, and it is the view of the SEC that such a waiver is
against public policy.

15. Authentication

          This Security shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Security.

16. Abbreviations

          Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=
tenants in common), TEN ENT (= tenants by the entirety), JT TEN (= joint tenants with rights of
survivorship and not as tenants in common), CUST (= custodian) and U/G/M/A (= Uniform Gift to
Minors Act).

17. CUSIP, Common Code and ISIN Numbers

          The Company has caused CUSIP, Common Code or ISIN numbers, if applicable, to be printed on the
Securities and has directed the Trustee to use CUSIP, Common Code or ISIN numbers, if applicable,
in notices of redemption as a convenience to Holders. No representation is made as to the accuracy
of such numbers either as printed on the Securities or as contained in any notice of redemption,
and reliance may be placed only on the other identification numbers placed thereon.

18. Collateral

          These Securities are secured by a security interest pursuant to certain Security Documents.
Reference is made to the Indenture for events causing release of the security interest in the
Collateral.

A-11

 

19. Governing Law

          This Security shall be governed by, and construed in accordance with, the laws of the State of
New York.

          The Company will furnish to any Holder upon written request and without charge to the Holder a
copy of the Indenture. Requests may be made to:

Libbey Inc.

300 Madison Ave.

P.O. Box 10060

Toledo, Ohio 43699-0060

Attention: Treasurer

A-12

 

ASSIGNMENT FORM

To assign this Security, fill in the form below:

I or we assign and transfer this Security to:

 

(Print or type assignee’s name, address and zip code)

 

(Insert assignee’s social security or tax I.D. No.)

and irrevocably appoint                                          agent to transfer this Security on the books of the Company.
The agent may substitute another to act for him.

	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Your Signature:	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Signature Guarantee:	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	 	 	(Signature must be guaranteed)	 	 

 

Sign exactly as your name appears on the other side of this Security.

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to SEC Rule 17Ad-15.

In connection with any transfer or exchange of any of the Securities evidenced by this certificate
occurring prior to the date that is one year after the later of the date of original issuance of
such Securities and the last date, if any, on which such Securities were owned by the Company, or
any Affiliate of the Company, the undersigned confirms that such Securities are being:

CHECK ONE BOX BELOW:

	 	1 o	 	acquired for the undersigned’s own account, without transfer; or
	 
	 	2 o	 	transferred to the Company; or
	 
	 	3 o	 	transferred pursuant to and in compliance with Rule 144A under the Securities
Act of 1933, as amended (the “Securities Act”); or
	 
	 	4 o	 	transferred pursuant to an effective registration statement under the
Securities Act; or
	 
	 	5 o	 	transferred pursuant to and in compliance with Regulation S under the
Securities Act; or

A-13

 

	 	6 o	 	transferred to an institutional “accredited investor” (within the meaning of
Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the
Trustee a signed letter containing certain representations and agreements (the form of
which letter appears as Section 2.7 of the Indenture); or
	 
	 	7 o	 	transferred pursuant to another available exemption from the registration
requirements of the Securities Act.

Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any person other than the registered Holder thereof;
provided, however, that if box (5), (6) or (7) is checked, the Trustee or the Company may require,
prior to registering any such transfer of the Securities, the delivery of an opinion of counsel,
certification and/or other information satisfactory to each of them to confirm that such transfer
is being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act, such as the exemption provided by Rule 144 under such Act.

	 	 	 	 	 
	 	 	 
	 	  	
 	 
	 	 	Signature 	 

Signature Guarantee:

	 	 	 	 	 
	 	  	
 	 
	(Signature must be guaranteed) 	 	Signature 	 

 

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to SEC Rule 17Ad-15.

TO BE COMPLETED BY PURCHASER IF (1) OR (3) ABOVE IS CHECKED.

The undersigned represents and warrants that it is purchasing this Security for its own account or
an account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act of 1933, as amended, and is aware that the sale to it is being made in reliance on Rule 144A
and acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 
	 	 	 
	 	  	
 	 
	 	 	Dated: 	 
	 	 	 	 

A-14

 

	 	 	 	 	 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES AND DECREASES IN GLOBAL SECURITY

The following increases and decreases in this Global Security have been made:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount of decrease	 	Amount of increase	 	Principal Amount of	 	Signature of	 	 
	 	 	in Principal Amount	 	in Principal Amount	 	this Global Security	 	authorized signatory	 	 
	Date of Decrease	 	of this Global	 	of this Global	 	following such	 	of Trustee or	 	 
	or Increase	 	Security	 	Security	 	decrease or increase	 	Securities Custodian	 	 
	 

	 	 	 	 	 	 	 	 	 	 

A-15

 

OPTION OF HOLDER TO ELECT PURCHASE

          If you elect to have this Security purchased by the Company pursuant to Section 3.5 or
3.11 of the Indenture, check either box:

	 	 	 
	o
	 	o
	3.5
	 	3.11

          If you want to elect to have only part of this Security purchased by the Company pursuant to
Section 3.5 or Section 3.11 of the Indenture, state the amount in principal amount
(must be integral multiple of $1,000): $                                                                        
        

	 	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Your Signature:	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Signature Guarantee:	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	 	 	(Signature must be guaranteed)	 	 

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to SEC Rule 17Ad-15.

A-16

 

EXHIBIT B

[FORM OF FACE OF SERIES B NOTE]

[Applicable Restricted Securities Legend]

[Depository Legend, if applicable]

[OID Legend, if applicable]

	 	 	 
	No. ___

	 	Principal Amount $        , as
	 

	 	revised by the Schedule of Increases and
	 

	 	Decreases in Global Security attached hereto
	 

	 	CUSIP NO. [144A: 52989L AD1/REGS U52873 AB9]
	 

	 	ISIN: [144A: US52989LAD10/REGS
	 

	 	USU52873AB96]

LIBBEY GLASS INC.

10% Senior Secured Note, Series B, due 2015

          Libbey Glass Inc., a Delaware corporation, promises to pay to Cede & Co., or its registered
assigns, the principal sum of [                                        ] DOLLARS, as revised by the Schedule of Increases
and Decreases in Global Security attached hereto, on February 15, 2015.

     Interest Payment Dates: February 15 and August 15, commencing on [          ]

     Record Dates: February 1 and August 1

          Additional provisions of this Security are set forth on the other side of this Security.

B-1

 

	 	 	 	 	 
	 	LIBBEY GLASS INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	Date:  	
 	 

B-2

 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee, certifies that this is one of the

Securities referred to in the within mentioned Indenture.

	 	 	 	 	 	 
	 	 	 
	By:  	 	 
	 	Authorized Signatory 	 

Date:

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[FORM OF REVERSE SIDE OF SERIES B NOTE]

LIBBEY GLASS INC.

10% Senior Secured Note, Series B, due 2015

1. Interest

          Libbey Glass Inc., a Delaware corporation (such corporation, and its successors and assigns
under the Indenture hereinafter referred to, being herein called the “Company”), promises
to pay interest on the principal amount of this Security at a rate per annum equal to 10%,
commencing on [          ], until maturity and shall pay additional interest, if any, payable
pursuant to Section 2(d) of the Registration Rights Agreement referred to below. The Company shall
make each interest payment in cash semi-annually in arrears on February 15 and August 15 of each
year, commencing [          ] or if any such day is not a Business Day, on the next
succeeding Business Day (each an “Interest Payment Date”). Notwithstanding the foregoing,
if any such Interest Payment Date (other than an Interest Payment Date at maturity) would otherwise
be a day that is not a Business Day, then the interest payment will be postponed to the next
succeeding Business Day (except if that Business Day falls in the next succeeding calendar month,
then interest will be paid on the immediately preceding Business Day). If the maturity date of the
Securities is a day that is not a Business Day, all payments to be made on such day will be made on
the next succeeding Business Day, with the same force and effect as if made on the maturity date,
and no additional interest will be payable as a result of such delay in payment. Interest on this
Security will accrue from the most recent date to which interest has been paid or, if no interest
has been paid, from [          ]; provided that the first Interest Payment Date shall be
 [          ]. The Company shall pay interest on overdue principal, and on overdue premium, if any
(plus interest on such interest to the extent lawful), at the rate borne by the Securities to the
extent lawful.

          The interest rate on the Securities will in no event be higher than the maximum rate permitted
by applicable law.

2. Method of Payment

          By no later than 10:00 a.m. (New York City time) on the date on which any principal of,
premium, if any, or interest on any Security is due and payable, the Company shall irrevocably
deposit with the Trustee or the Paying Agent money sufficient to pay such principal, premium, if
any, and/or interest. The Company will pay interest (except Defaulted Interest) to the Persons who
are registered Holders of Securities at the close of business on the February 1 or August 1 next
preceding the interest payment date even if Securities are cancelled, repurchased or redeemed after
the record date and on or before the interest payment date. Holders must surrender Securities to a
Paying Agent to collect principal payments. The Company will pay principal, premium, if any, and
interest in money of the United States that at the time of payment is legal tender for payment of
public and private debts. Payments in respect of Securities represented by a Global Security
(including principal, premium, if any, and interest) will be made by the transfer of immediately
available funds to the accounts specified by The Depository

B-4

 

Trust Company or any successor depository. The Company will make all payments in respect of a
Definitive Security (including principal, premium, if any, and interest) by mailing a check to the
registered address of each Holder thereof; provided, however, that payments on the Securities may
also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of
Securities, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the
United States if such Holder elects payment by wire transfer by giving written notice to the
Trustee or the Paying Agent to such effect designating such account no later than 15 days
immediately preceding the relevant due date for payment (or such other date as the Trustee may
accept in its discretion).

3. Paying Agent and Registrar

          Initially, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”) will act as
Trustee, Paying Agent and Registrar. The Company may appoint and change any Paying Agent,
Registrar or co-registrar without notice to any Holder. Any of the domestically organized
Restricted Subsidiaries may act as Paying Agent, Registrar or co-registrar.

4. Indenture

          The Company issued the Securities under an Indenture dated as of February 8, 2010 (as it may
be amended or supplemented from time to time in accordance with the terms thereof, the
“Indenture”), among the Company and the Trustee. The terms of the Securities include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture
Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of the Indenture (the
“Act”). Capitalized terms used herein and not defined herein have the meanings ascribed
thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture,
and Holders are referred to the Indenture and the Act for a statement of those terms.

          The Securities are general senior secured obligations of the Company. The aggregate principal
amount of Securities that may be authenticated and delivered under the Indenture is unlimited.
This Security is one of the Senior Secured Notes, Series B, due 2015 referred to in the Indenture.
The Securities include (i) $400,000,000 aggregate principal amount of the Company’s Senior Secured
Notes, Series A, due 2015 issued under the Indenture on February 8, 2010 (herein called
“Initial Securities”), (ii) if and when issued, additional Senior Secured Notes, Series A,
due 2015 or Senior Secured Notes, Series B, due 2015 of the Company that may be issued from time to
time under the Indenture subsequent to February 8, 2010 (herein called “Additional
Securities”) and (iii) if and when issued, the Company’s Senior Secured Notes, Series B, due
2015 that may be issued from time to time under the Indenture in exchange for Initial Securities or
Additional Securities in an offer registered under the Securities Act as provided in the
Registration Rights Agreement (herein called “Exchange Securities”). The Securities and
Exchange Securities are treated as a single class of securities under the Indenture. The Indenture
imposes certain limitations on the incurrence of indebtedness, the sale of assets and subsidiary
stock, the incurrence of certain liens, affiliate transactions, the sale of capital stock of
restricted subsidiaries, the making of payments for consents, the entering into of agreements that
restrict distributions from restricted subsidiaries and the consummation of mergers and
consolidations. The Indenture also imposes requirements with respect to the provision of financial
information and the provision of guarantees of the Securities by certain subsidiaries.

B-5

 

          To guarantee the due and punctual payment of the principal, premium, if any, and interest
(including post-filing or post-petition interest) on the Securities and all other amounts payable
by the Company under the Indenture and the Securities when and as the same shall be due and
payable, whether at maturity, by acceleration or otherwise, according to the terms of the
Securities and the Indenture, the Note Guarantors have fully, unconditionally and irrevocably
Guaranteed (and future guarantors, together with the Note Guarantors, will fully, unconditionally
and irrevocably Guarantee), jointly and severally, to each Holder of the Securities and the Trustee
the Guarantor Obligations pursuant to Article X of the Indenture on a senior basis.

5. Redemption

          Except as set forth below, the Securities will not be redeemable at the option of the Company
prior to August 15, 2012. On and after such date, the Securities will be redeemable, at the
Company’s option, in whole or in part, at any time from time to time, upon not less than 30 nor
more than 60 days’ prior notice, at the following redemption prices (expressed in percentages of
principal amount), plus accrued and unpaid interest, if any, to the applicable redemption date
(subject to the right of Holders of record on the relevant record date to receive interest due on
the relevant interest payment date), if redeemed during the 12-month period commencing on [          ] of the years set forth below:

	 	 	 	 	 
	Period	 	Percentage
	2012

	 	 	105.000	%
	2013

	 	 	102.500	%
	2014 and thereafter

	 	 	100.000	%

          In addition, at any time and from time to time prior to August 15, 2012, the Company may
redeem in the aggregate up to 35% of the original principal amount of the Securities (after giving
effect to any future issuance of Additional Securities) with the Net Cash Proceeds of one or more
Equity Offerings at a redemption price (expressed as a percentage of principal amount) of 110% of
the principal amount thereof, plus any accrued and unpaid interest or additional interest to the
redemption date (subject to the right of Holders of record on the relevant record date to receive
interest due on the relevant interest payment date); provided, however, that at least 65% of the
original principal amount of the Securities (after giving effect to any future issuance of
Additional Securities) must remain outstanding after each such redemption; provided further, that
each such redemption occurs within 90 days of the date of closing of such Equity Offering.

          In addition, at any time and from time to time prior to August 15, 2012, but not more than
once in any twelve-month period, the Company may redeem in the aggregate, up to 10% of the original
aggregate principal amount of the notes at a redemption price (expressed as a percentage of
principal amount thereof) of 103%, plus any accrued and unpaid interest and additional interest to
the applicable redemption date (subject to the right of holders of record on the relevant record
date to receive interest due on the relevant interest payment date).

          If the optional redemption date is on or after an interest record date and on or before the
related interest payment date, the accrued and unpaid interest, if any, will be paid to the

B-6

 

Person in whose name the Security is registered at the close of business on such record date,
and no additional interest will be payable to Holders whose Securities will be subject to
redemption by the Company.

          In the case of any partial redemption, selection of the Securities for redemption will be made
by the Trustee in compliance with the requirements of the principal national securities exchange,
if any, on which the Securities are listed or, if the Securities are not listed, then on a pro rata
basis, by lot or by such other method as the Trustee in its sole discretion shall deem to be fair
and appropriate, although no Securities of $2,000 in original principal amount or less will be
redeemed in part. Any such notice to the Trustee may be cancelled at any time prior to notice of
such redemption being mailed to any Holder and shall thereby be void and of no effect. If any
Security is to be redeemed in part only, the notice of redemption relating to such Security shall
state the portion of the principal amount thereof to be redeemed. A new Security in principal
amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof
upon cancellation of the original Security. On and after the redemption date, interest will cease
to accrue on Securities or portions thereof called for redemption as long as the Company has
deposited with the Paying Agent funds in satisfaction of the applicable redemption price pursuant
to the Indenture.

6. Repurchase Provisions

          If a Change of Control occurs, unless the Company has exercised its right to redeem all of the
Securities as described under paragraph 4 of the Securities, then such Change of Control shall
constitute a triggering event which shall trigger the obligation of the Company to offer to
repurchase from each Holder all or any part (equal to $2,000 or an integral multiple of $1,000 in
excess thereof) of such Holder’s Securities at a purchase price in cash equal to 101% of the
principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase
(subject to the right of Holders of record on the relevant record date to receive interest due on
the relevant interest payment date) as provided in, and subject to the terms of, the Indenture.

7. Denominations; Transfer; Exchange

          The Securities are in registered form without coupons in denominations of principal amount of
$2,000 and whole multiples of $1,000. A Holder may transfer or exchange Securities in accordance
with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate
endorsements or transfer documents and to pay a sum sufficient to cover any transfer tax or other
governmental taxes and fees required by law or permitted by the Indenture. The Registrar need not
register the transfer of or exchange of any Security for a period beginning 15 days before the
mailing of a notice of an offer to repurchase or redeem Securities and ending at the close of
business on the day of such mailing. The Registrar shall not be required to register the transfer
of or exchange of any Security selected for redemption.

8. Persons Deemed Owners

          The registered Holder of this Security may be treated as the owner of it for all purposes.

B-7

 

9. Unclaimed Money

          Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay
to the Company upon request any money held by them for the payment of principal of or premium, if
any, or interest on the Securities that remains unclaimed by the Holders thereof for two years,
and, thereafter, Holders entitled to the money must look to the Company for payment as unsecured
general creditors.

10. Defeasance

          Subject to certain exceptions and conditions set forth in the Indenture, the Company at any
time may terminate some or all of its obligations under the Securities and the Indenture if the
Company deposits with the Trustee money or U.S. Government Obligations for the payment of
principal, premium, if any, and interest on the Securities to redemption or maturity, as the case
may be.

11. Amendment, Supplement, Waiver

          Subject to certain exceptions set forth in the Indenture, (i) the Indenture, the Securities,
the Collateral Documents, the Intercreditor Agreement and any Note Guarantee may be amended or
supplemented by the Company, the Note Guarantors and the Trustee with the written consent of the
Holders of at least a majority in principal amount of the then outstanding Securities and (ii) any
default (other than with respect to nonpayment (except in accordance with Section 6.4 of
the Indenture)) or noncompliance with any provision may be waived with the written consent of the
Holders of a majority in principal amount of the then outstanding Securities and except as
otherwise set forth in the Indenture, in each case other than in respect of a provision that cannot
be amended without the written consent of each Holder affected. Subject to certain exceptions set
forth in the Indenture, without the consent of any Holder, the Company, the Note Guarantors and the
Trustee may amend or supplement the Indenture or the Securities cure any ambiguity, omission,
defect or inconsistency; provide for the assumption by a successor corporation of the obligations
of the Company or any Note Guarantor under the Indenture; provide for uncertificated Securities in
addition to or in place of certificated Securities (provided that the uncertificated Securities are
issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the
uncertificated Securities are described in Section 163(f)(2)(B) of the Code); add Guarantees with
respect to the Securities or release a Subsidiary Guarantor upon its designation as an Unrestricted
Subsidiary; provided, however, that the designation is in accordance with the applicable provisions
of the Indenture; secure the Securities with additional Collateral; add to the covenants of the
Company and the Restricted Subsidiaries for the benefit of the Holders or surrender any right or
power conferred upon the Company or any Restricted Subsidiary; make any change that does not
adversely affect the rights of any Holder; comply with any requirement of the SEC in connection
with the qualification of the Indenture under the TIA; release a Note Guarantor from its
obligations under its Note Guarantee or the Indenture in accordance with the applicable provisions
of the Indenture; provide for the appointment of a successor trustee, provided that the successor
trustee is otherwise qualified and eligible to act as such under the terms of the Indenture; make,
complete or confirm any Collateral permitted or required by the Collateral Documents or any release
of Liens in favor of the Collateral Agent on the Collateral, as provided under Section 11.3
or otherwise in accordance with this Indenture, the

B-8

 

Collateral Documents or the Intercreditor Agreement; provide for the issuance of Additional
Securities (and the grant of Security for the benefit of the Additional Securities) in accordance
with the terms of this Indenture and provide for the issuance of Exchange Securities that shall
have terms substantially identical in all respects to the Securities (except that the transfer
restrictions contained in the Securities shall be modified or eliminated as appropriate) and that
shall be treated, together with any outstanding Securities, as a single class of securities;
conform the text of the Indenture, the Securities or the Guarantees to any provision of the
“Description of the Notes” section of the Offering Memorandum to the extent that such provision in
the “Description of the Notes” was intended to be a verbatim recitation of a provision of the
Indenture, the Securities or the Note Guarantees; add additional secured parties to the extent
Liens securing obligations held by such parties are permitted under this Indenture; provide for the
succession of any parties to the Collateral Documents (and other amendments that are administrative
or ministerial in nature) in connection with an amendment, renewal, extension, substitution,
refinancing, restructuring, replacement, supplementing or other modification from time to time of
any agreement in accordance with the terms of this Indenture and the relevant Collateral Document;
provide for a reduction in the minimum denominations of the Securities; or comply with the rules of
any applicable securities depositary.

12. Defaults and Remedies

          Under the Indenture, Events of Default include (each of which are more specifically described
in the Indenture) (i) default in any payment of interest or additional interest (as required by the
Registration Rights Agreement) on any Security when due, continued for 30 days; (ii) default in the
payment of principal of or premium, if any, on any Security when due at its Stated Maturity, upon
optional redemption, upon required repurchase, upon declaration or otherwise; (iii) failure by the
Company or any Note Guarantor to comply with its obligations under Section 4.1 of the
Indenture; (iv) failure by the Company or any Note Guarantor to comply for 45 days after notice
with any of its obligations under Article III of the Indenture (in each case, other than a
failure to purchase Securities, which will constitute an Event of Default under clause (ii), and a
failure to comply with Section 4.1 of the Indenture, which will constitute an Event of
Default under clause (iii)); (v) failure by the Company or any Note Guarantor to comply for 60 days
after notice as provided below with its other agreements contained in the Indenture; (vi) default
under any mortgage, indenture or instrument under which there may be issued or by which there may
be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted
Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted
Subsidiaries), other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such
Indebtedness or guarantee now exists, or is created after the Issue Date, which default (1) is
caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness prior
to the expiration of the grace period provided in such Indebtedness or (2) results in the
acceleration of such Indebtedness prior to its maturity, and, in each case, the principal amount of
any such Indebtedness, together with the principal amount of any other such Indebtedness under
which there has been a payment default or the maturity of which has been so accelerated, aggregates
$20.0 million or more; (vii) certain events set forth in Section 6.1(7) of the Indenture of
bankruptcy, insolvency or reorganization of the Company or a Significant Subsidiary or group of
Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial
statements for the Company and its Restricted Subsidiaries), would
constitute

B-9

 

a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law; (viii)
failure by the Company or any Significant Subsidiary or group of Restricted Subsidiaries that,
taken together (as of the latest audited consolidated financial statements for the Company and its
Restricted Subsidiaries) would constitute a Significant Subsidiary to pay final judgments
aggregating in excess of $20.0 million (net of any amounts that a reputable and creditworthy
insurance company has acknowledged liability for in writing), which judgments are not paid,
discharged or stayed for a period of 60 days; (ix) any Subsidiary Guarantee, Collateral Document or
obligation under the Intercreditor Agreement of a Significant Subsidiary or group of Restricted
Subsidiaries that taken together as of the latest audited consolidated financial statements for the
Company and its Restricted Subsidiaries would constitute a Significant Subsidiary ceases to be in
full force and effect (except as contemplated by the terms of the Indenture) or is declared null
and void in a judicial proceeding or any Subsidiary Guarantor that is a Significant Subsidiary or
group of Subsidiary Guarantors that taken together as of the latest audited consolidated financial
statements of the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary
denies or disaffirms its obligations under the Indenture, or its Subsidiary Guarantee any
Collateral Document or the Intercreditor Agreement; or (x) with respect to any Collateral having a
fair market value in excess of $20.0 million, individually or in the aggregate, (A) the security
interest under the Collateral Documents, at any time, ceases to be in full force and effect for any
reason other than in accordance with their terms and the terms of this Indenture and other than the
satisfaction in full of all obligations under this Indenture and discharge of this Indenture, (B)
any security interest created thereunder or under this Indenture is declared invalid or
unenforceable or (C) the Company or any Note Guarantor asserts, in any pleading in any court of
competent jurisdiction, that any such security interest is invalid or unenforceable. However, a
default under clauses (iv) and (v) will not constitute an Event of Default until the Trustee or the
Holders of 25% in principal amount of the outstanding Securities notify the Company of the default
and the Company does not cure such default within the time specified in clauses (iv) and (v) hereof
after receipt of such notice.

          If an Event of Default (other than an Event of Default described in (vii) hereof) occurs and
is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in principal
amount of the outstanding Securities by notice to the Company and the Trustee, may, and the Trustee
at the request of such Holders shall, declare the principal of, premium, if any, and accrued and
unpaid interest, if any, on all the Securities to be due and payable. If an Event of Default
described in (vii) hereof occurs and is continuing, the principal of, premium, if any, and accrued
and unpaid interest on all the Securities will become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holders.

          Holders may not enforce the Indenture or the Securities except as provided in the Indenture.
The Trustee may refuse to enforce the Indenture or the Securities unless it receives indemnity or
security reasonably satisfactory to it. Subject to certain limitations, Holders of a majority in
principal amount of the Securities may direct the Trustee in its exercise of any trust or power.
The Trustee may withhold from Holders notice of any continuing Default or Event of Default (except
a Default or Event of Default in payment of principal, premium, if any, or interest) if it
determines in good faith that withholding notice is in their interest.

B-10

 

13. Trustee Dealings with the Company

          Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Securities and may
otherwise deal with and collect obligations owed to it by the Company, the Subsidiary Guarantors or
their Affiliates and may otherwise deal with the Company, the Subsidiary Guarantors or their
Affiliates with the same rights it would have if it were not Trustee.

14. No Recourse Against Others

          No director, officer, employee, incorporator or stockholder of the Parent, the Company or any
of the Subsidiary Guarantors, as such, shall have any liability for any obligations of the Company
under the Securities, the Indenture or any Guarantee or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder of Securities by accepting a
Security waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Securities. Such waiver may not be effective to waive
liabilities under the federal securities laws, and it is the view of the SEC that such a waiver is
against public policy.

15. Authentication

          This Security shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent acting on its behalf) manually signs the certificate of authentication on the
other side of this Security.

16. Abbreviations

          Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM (=
tenants in common), TEN ENT (= tenants by the entirety), JT TEN (= joint tenants with rights of
survivorship and not as tenants in common), CUST (= custodian) and U/G/M/A (= Uniform Gift to
Minors Act).

17. CUSIP, Common Code and ISIN Numbers

          The Company has caused CUSIP, Common Code or ISIN numbers, if applicable, to be printed on the
Securities and has directed the Trustee to use CUSIP, Common Code or ISIN numbers, if applicable,
in notices of redemption as a convenience to Holders. No representation is made as to the accuracy
of such numbers either as printed on the Securities or as contained in any notice of redemption,
and reliance may be placed only on the other identification numbers placed thereon.

18. Collateral

          These Securities are secured by a security interest pursuant to certain Security Documents.
Reference is made to the Indenture for events causing release of the security interest in the
Collateral.

B-11

 

19. Governing Law

          This Security shall be governed by, and construed in accordance with, the laws of the State of
New York.

          The Company will furnish to any Holder upon written request and without charge to the Holder a
copy of the Indenture. Requests may be made to:

Libbey Inc.

300 Madison Ave.

P.O. Box 10060

Toledo, Ohio 43699-0060

Attention: Treasurer

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ASSIGNMENT FORM

To assign this Security, fill in the form below:

I or we assign and transfer this Security to:

 

(Print or type assignee’s name, address and zip code)

 

(Insert assignee’s social security or tax I.D. No.)

and irrevocably appoint                      agent to transfer this Security on the books of the Company.
The agent may substitute another to act for him.

 

	 	 	 	 	 	 	 
	Date:

	 	 	 	Your Signature:	 	 
	 

	 	 
	 	 	 	 

	 	 	 
	Signature Guarantee:	 	 
	 

	 	 
	 

	 	(Signature must be guaranteed)

      

Sign exactly as your name appears on the other side of this Security.

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to SEC Rule 17Ad-15.

In connection with any transfer or exchange of any of the Securities evidenced by this certificate
occurring prior to the date that is one year after the later of the date of original issuance of
such Securities and the last date, if any, on which such Securities were owned by the Company, or
any Affiliate of the Company, the undersigned confirms that such Securities are being:

CHECK ONE BOX BELOW:

	1 o	 	 acquired for the undersigned’s own account, without transfer; or
	 
	2 o	 	 transferred to the Company; or
	 
	3 o	 	 transferred pursuant to and in compliance with Rule 144A under the Securities
Act of 1933, as amended (the “Securities Act”); or
	 
	4 o	 	 transferred pursuant to an effective registration statement under the
Securities Act; or
	 
	5 o	 	 transferred pursuant to and in compliance with Regulation S under the
Securities Act; or

B-13

 

	6 o	 	 transferred to an institutional “accredited investor” (within the meaning of
Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the
Trustee a signed letter containing certain representations and agreements (the form of
which letter appears as Section 2.7 of the Indenture); or
	 
	7 o	 	 transferred pursuant to another available exemption from the registration
requirements of the Securities Act.

Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any person other than the registered Holder thereof;
provided, however, that if box (5), (6) or (7) is checked, the Trustee or the Company may require,
prior to registering any such transfer of the Securities, the delivery of an opinion of counsel,
certification and/or other information satisfactory to each of them to confirm that such transfer
is being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act, such as the exemption provided by Rule 144 under such Act.

	 	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Signature	 	 
	 
	 	 	 	 	 	 
	Signature Guarantee:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	(Signature must be guaranteed)

	 	 	 	Signature	 	 

 

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to SEC Rule 17Ad-15.

TO BE COMPLETED BY PURCHASER IF (1) OR (3) ABOVE IS CHECKED.

The undersigned represents and warrants that it is purchasing this Security for its own account or
an account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act of 1933, as amended, and is aware that the sale to it is being made in reliance on Rule 144A
and acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 
	 	 	 
	 

	 	Dated:	 	 

B-14

 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF INCREASES AND DECREASES IN GLOBAL SECURITY

The following increases and decreases in this Global Security have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Principal Amount of	 	Signature of
	 	 	 	 	Amount of decrease	 	Amount of increase	 	this Global	 	authorized
	 	 	 	 	in Principal Amount	 	in Principal Amount	 	Security following	 	signatory of
	Date of Decrease	 	of this Global	 	of this Global	 	such	 	Trustee or
	or Increase	 	Security	 	Security	 	decrease or increase	 	Securities Custodian

B-15

 

OPTION OF HOLDER TO ELECT PURCHASE

          If you elect to have this Security purchased by the Company pursuant to Section 3.5 or
3.11 of the Indenture, check either box:

o                 o

3.5            3.11

          If you want to elect to have only part of this Security purchased by the Company pursuant to
Section 3.5 or Section 3.11 of the Indenture, state the amount in principal amount
(must be integral multiple of $1,000): $                                                            

	 	 	 	 	 	 	 
	Date:

	 	 	 	Your Signature:	 	 
	 

	 	 
	 	 	 	 

	 	 	 
	Signature Guarantee:	 	 
	 

	 	 
	 

	 	(Signature must be guaranteed)

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings
and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to SEC Rule 17Ad-15.

B-16

 

EXHIBIT C

FORM OF INDENTURE SUPPLEMENT TO ADD SUBSIDIARY GUARANTORS

          This Supplemental Indenture, dated as of                      ___, 20___(this “Supplemental
Indenture” or “Guarantee”), among [name of future Subsidiary Guarantor] (the
“Guarantor”), LIBBEY GLASS INC. (together with its successors and assigns, the
“Company”), each other then-existing Guarantors under the Indenture referred to below, and
The Bank of New York Mellon Trust Company, N.A., as Trustee under the Indenture referred to below.

W I T N E S S E T H:

          WHEREAS, the Company, the Subsidiary Guarantors and the Trustee have heretofore executed and
delivered an Indenture, dated as of February 8, 2010 (as amended, supplemented, waived or otherwise
modified, the “Indenture”), providing for the issuance of Senior Secured Notes due 2015 of
the Company (the “Securities”);

          WHEREAS, Section 3.13 of the Indenture provides that under certain circumstances the
Company is required to cause each Restricted Subsidiary that Guarantees any Indebtedness of the
Company or of any other Restricted Subsidiary to execute and deliver to the Trustee a supplemental
indenture pursuant to which such Restricted Subsidiary will unconditionally Guarantee, on a joint
and several basis with the other Subsidiary Guarantors, the full and prompt payment of the
principal of, premium, if any, and interest on the Securities on a senior basis; and

          WHEREAS, pursuant to Section 10.1 of the Indenture, the Trustee, the Company and the
Subsidiary Guarantors are authorized to execute and deliver this Supplemental Indenture to amend or
supplement the Indenture, without the consent of any Holder;

          NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Guarantor, the Company, the other
Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit
of the Holders of the Securities as follows:

ARTICLE I

Definitions

          SECTION 1.1 Defined Terms. As used in this Supplemental Indenture, terms defined in
the Indenture or in the preamble or recital hereto are used herein as therein defined, except that
the term “Holders” in this Guarantee shall refer to the term “Holders” as defined
in the Indenture and the Trustee acting on behalf or for the benefit of such Holders. The words
“herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental
Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof.

C-1

 

ARTICLE II

Agreement to be Bound; Guarantee

          SECTION 2.1 Agreement to be Bound. The Guarantor hereby becomes a party to the
Indenture as a Subsidiary Guarantor and as such will have all of the rights and be subject to all
of the obligations and agreements of a Note Guarantor under the Indenture. The Guarantor agrees to
be bound by all of the provisions of the Indenture applicable to a Note Guarantor and to perform
all of the obligations and agreements of a Note Guarantor under the Indenture.

          SECTION 2.2 Guarantee. The Guarantor agrees, on a joint and several basis with all
the existing Note Guarantors, to fully, unconditionally and irrevocably Guarantee to each Holder of
the Securities and the Trustee the Guarantor Obligations pursuant to Article X of the
Indenture on a senior basis.

ARTICLE III

Miscellaneous

          SECTION 3.1 Notices. All notices and other communications to the Guarantor shall be
given as provided in the Indenture to the Guarantor, at its address set forth below, with a copy to
the Company as provided in the Indenture for notices to the Company.

          SECTION 3.2 Parties. Nothing expressed or mentioned herein is intended or shall be
construed to give any Person, firm or corporation, other than the Holders and the Trustee, any
legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the
Indenture or any provision herein or therein contained.

          SECTION 3.3 Governing Law. This Supplemental Indenture shall be governed by, and
construed in accordance with, the laws of the State of New York.

          SECTION 3.4 Ratification of Indenture; Supplemental Indenture Part of Indenture.
Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all
the terms, conditions and provisions thereof shall remain in full force and effect. This
Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of
Securities heretofore or hereafter authenticated and delivered shall be bound hereby. The Trustee
makes no representation or warranty as to the validity or sufficiency of this Supplemental
Indenture.

          SECTION 3.5 Counterparts. The parties hereto may sign one or more copies of this
Supplemental Indenture in counterparts, all of which together shall constitute one and the same
agreement.

          SECTION 3.6 Headings. The headings of the Articles and the Sections in this
Guarantee are for convenience of reference only and shall not be deemed to alter or affect the
meaning or interpretation of any provisions hereof.

C-2

 

          SECTION 3.7 Trustee. The Trustee makes no representation as to the validity or
sufficiency of this Supplemental Indenture. The recitals and statements herein are deemed to be
those of the Guarantor and not of the Trustee.

C-3

 

          IN WITNESS WHEREOF, the parties hereto have caused the Indenture to be duly executed as of the
date first above written.

	 	 	 	 	 
	 	[SECURITIES GUARANTOR],

as a Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  
	 	 	     [Address] 	 
	 
	 	THE BANK OF NEW YORK MELLON TRUST

COMPANY, N.A.,

as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	LIBBEY GLASS INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[EXISTING GUARANTORS]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

C-4

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