Document:

EX-10.I.G

 

Exhibit 10(i)(G)

U.S. $450,000,000

3-YEAR CREDIT AGREEMENT

Dated as of May 10, 2004

AMENDED AND RESTATED as of September 27, 2005

Among

THE INTERPUBLIC GROUP OF COMPANIES, INC.

as Company

THE INITIAL LENDERS, INITIAL ISSUING BANKS AND SWING LINE BANK NAMED HEREIN

as Initial Lenders, Initial Issuing Banks and Swing Line Bank

CITIBANK, N.A.

as Administrative Agent

JPMORGAN CHASE BANK

as Syndication Agent

HSBC BANK USA,

LLOYDS TSB BANK PLC

and

UBS AG, STAMFORD BRANCH

as Co-Documentation Agents

and

CITIGROUP GLOBAL MARKETS INC.

as Lead Arranger and Book Manager

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	SECTION 1.01. Certain Defined Terms
	 	 	1	 
	SECTION 1.02. Computation of Time Periods
	 	 	12	 
	SECTION 1.03. Accounting Terms
	 	 	12	 
	ARTICLE II AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT
	 	 	12	 
	SECTION 2.01. The Advances
	 	 	12	 
	SECTION 2.02. Making the Advances
	 	 	13	 
	SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit
	 	 	15	 
	SECTION 2.04. Fees
	 	 	16	 
	SECTION 2.05. Optional Termination or Reduction of the Commitments
	 	 	17	 
	SECTION 2.06. Repayment
	 	 	17	 
	SECTION 2.07. Interest on Advances
	 	 	18	 
	SECTION 2.08. Interest Rate Determination
	 	 	18	 
	SECTION 2.09. Optional Conversion of Revolving Credit Advances
	 	 	19	 
	SECTION 2.10. Prepayments of Advances
	 	 	20	 
	SECTION 2.11. Increased Costs
	 	 	21	 
	SECTION 2.12. Illegality
	 	 	21	 
	SECTION 2.13. Payments and Computations
	 	 	22	 
	SECTION 2.14. Taxes
	 	 	22	 
	SECTION 2.15. Sharing of Payments, Etc.
	 	 	24	 
	SECTION 2.16. Evidence of Debt
	 	 	24	 
	SECTION 2.17. Use of Proceeds
	 	 	24	 
	SECTION 2.18. Temporary Waiver of Remedies
	 	 	25	 
	ARTICLE III CONDITIONS TO EFFECTIVENESS AND LENDING
	 	 	25	 
	SECTION 3.01. Conditions Precedent to Effectiveness of Amendment and Restatement
	 	 	25	 
	SECTION 3.02. Initial Advance to Each Designated Subsidiary
	 	 	26	 

3-year Credit Agreement

 

 

	 	 	 	 	 
	SECTION 3.03. Conditions Precedent to Each Borrowing and Issuance
	 	 	27	 
	SECTION 3.04. Determinations Under Sections 3.01 and 3.02
	 	 	27	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES
	 	 	27	 
	SECTION 4.01. Representations and Warranties of the Company
	 	 	27	 
	ARTICLE V COVENANTS OF THE COMPANY
	 	 	29	 
	SECTION 5.01. Affirmative Covenants
	 	 	29	 
	SECTION 5.02. Negative Covenants
	 	 	31	 
	SECTION 5.03. Financial Covenants
	 	 	34	 
	ARTICLE VI EVENTS OF DEFAULT
	 	 	36	 
	SECTION 6.01. Events of Default
	 	 	36	 
	SECTION 6.02. Actions in Respect of the Letters of Credit upon Default
	 	 	38	 
	ARTICLE VII GUARANTY
	 	 	39	 
	SECTION 7.01. Guaranty
	 	 	39	 
	SECTION 7.02. Guaranty Absolute
	 	 	39	 
	SECTION 7.03. Waivers and Acknowledgments
	 	 	40	 
	SECTION 7.04. Subrogation
	 	 	40	 
	SECTION 7.05. Continuing Guaranty; Assignments
	 	 	41	 
	ARTICLE VIII THE AGENT
	 	 	41	 
	SECTION 8.01. Authorization and Action
	 	 	41	 
	SECTION 8.02. Agent’s Reliance, Etc.
	 	 	41	 
	SECTION 8.03. Citibank and Affiliates
	 	 	42	 
	SECTION 8.04. Lender Credit Decision
	 	 	42	 
	SECTION 8.05. Indemnification
	 	 	42	 
	SECTION 8.06. Successor Agent
	 	 	42	 
	SECTION 8.07. Sub-Agent
	 	 	43	 
	SECTION 8.08. Other Agents.
	 	 	43	 
	ARTICLE IX MISCELLANEOUS
	 	 	43	 
	SECTION 9.01. Amendments, Etc.
	 	 	43	 

3-year Credit Agreement

ii

 

	 	 	 	 	 
	SECTION 9.02. Notices, Etc.
	 	 	43	 
	SECTION 9.03. No Waiver; Remedies
	 	 	44	 
	SECTION 9.04. Costs and Expenses
	 	 	44	 
	SECTION 9.05. Right of Set-off
	 	 	45	 
	SECTION 9.06. Binding Effect
	 	 	45	 
	SECTION 9.07. Assignments and Participations
	 	 	46	 
	SECTION 9.08. Confidentiality
	 	 	48	 
	SECTION 9.09. Designated Subsidiaries
	 	 	48	 
	SECTION 9.10. Governing Law
	 	 	49	 
	SECTION 9.11. Execution in Counterparts
	 	 	49	 
	SECTION 9.12. Judgment
	 	 	49	 
	SECTION 9.13. Jurisdiction, Etc.
	 	 	49	 
	SECTION 9.14. Substitution of Currency
	 	 	50	 
	SECTION 9.15. No Liability Regarding Letters of Credit
	 	 	50	 
	SECTION 9.16. Patriot Act Notification
	 	 	50	 
	SECTION 9.17. Waiver of Jury Trial
	 	 	51	 

3-year Credit Agreement

iii

 

Schedules

	 	 	 
	Schedule I

	 	- List of Applicable Lending Offices
	Schedule 2.01(c)

	 	- Existing Letters of Credit
	Schedule 5.02(e)

	 	- Acquisitions
	Schedule 5.02(h)

	 	- Subsidiary Debt
	Schedule 5.03(b)

	 	- Terms of Subordination

Exhibits

	 	 	 
	Exhibit A

	 	- Form of Note
	Exhibit B

	 	- Form of Notice of Borrowing
	Exhibit C

	 	- Form of Assignment and Acceptance
	Exhibit D-1

	 	- Form of Opinion of Cleary, Gottlieb, Steen & Hamilton
	Exhibit D-2

	 	- Form of Opinion of In-House Counsel for the Company
	Exhibit E

	 	- Form of Designation Agreement

3-year Credit Agreement

iv

 

3-YEAR CREDIT AGREEMENT

Dated as of May 10, 2004

AMENDED AND RESTATED as of September 27, 2005

          THE INTERPUBLIC GROUP OF COMPANIES, INC., a Delaware corporation (the “Company”), the
banks, financial institutions and other institutional lenders (the “Initial Lenders”) and
initial issuing banks (the “Initial Issuing Banks”) and Swing Line Banks (as hereinafter
defined) listed on the signature pages hereof, JPMORGAN CHASE BANK, N,.A., as Syndication Agent,
HSBC BANK USA, LLOYDS TSB BANK PLC AND UBS AG, STAMFORD BRANCH, as co-documentation agents,
CITIGROUP GLOBAL MARKETS INC., as lead arranger and book manager, and CITIBANK, N.A.
(“Citibank”), as administrative agent (the “Agent”) for the Lenders (as hereinafter
defined), agree as follows:

          PRELIMINARY STATEMENT. The Company, the lenders parties thereto and Citibank, as agent, are
parties to the 3-Year Credit Agreement dated as of May 10, 2004, as amended as of September 29,
2004, March 31, 2005 and June 22, 2005 (the “Existing Credit Agreement”). Subject to the
satisfaction of the conditions set forth in Section 3.01, the Borrower, the parties hereto and
Citibank, as Agent, desire to amend and restate the Existing Credit Agreement as herein set forth.

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

          SECTION 1.01. Certain Defined Terms. As used in this Agreement, the following terms
shall have the following meanings (such meanings to be equally applicable to both the singular and
plural forms of the terms defined):

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

     “Affiliate” means, as to any Person, any other Person that, directly or
indirectly, controls, is controlled by or is under common control with such Person or is a
director or officer of such Person. For purposes of this definition, the term “control”
(including the terms “controlling”, “controlled by” and “under common control with”) of a
Person means the possession, direct or indirect, of the power to vote 10% or more of the
Voting Stock of such Person or to direct or cause the direction of the management and
policies of such Person, whether through the ownership of Voting Stock, by contract or
otherwise.

     “Agent’s Account” means (a) in the case of Advances denominated in Dollars, the
account of the Agent maintained by the Agent at Citibank at its office at 399 Park Avenue,
New York, New York 10043, Account No. 36852248, Attention: Bank Loan Syndications, (b) in
the case of Advances denominated in any Committed Currency, the account of the Sub-Agent
designated in writing from time to time by the Agent to the Company and the Lenders for such
purpose and (c) in any such case, such other account of the Agent as is designated in
writing from time to time by the Agent to the Company and the Lenders for such purpose.

     “Applicable Lending Office” means, with respect to each Lender, such Lender’s
Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurocurrency
Lending Office in the case of a Eurocurrency Rate Advance.

     “Amendment and Restatement” has the meaning specified in Section 3.01.

3-year Credit Agreement

 

 

     “Applicable Margin” means, as of any date, a percentage per annum determined by
reference to the Public Debt Rating in effect on such date as set forth below:

	 	 	 	 	 	 	 	 	 
	Public Debt Rating	 	Applicable Margin for	 	Applicable Margin for
	S&P/Moody's	 	Base Rate Advances	 	Eurocurrency Rate Advances
	Level 1
	 	 	 	 	 	 	 	 
	BB+ and Ba1 or above

	 	 	0.150	%	 	 	1.150	%
	Level 2
	 	 	 	 	 	 	 	 
	BB and Ba2

	 	 	0.550	%	 	 	1.550	%
	Level 3
	 	 	 	 	 	 	 	 
	Lower than Level 2

	 	 	0.750	%	 	 	1.750	%

     “Applicable Percentage” means, as of any date, a percentage per annum
determined by reference to the Public Debt Rating in effect on such date as set forth below:

	 	 	 	 	 
	Public Debt Rating	 	Applicable
	S&P/Moody's	 	Percentage
	Level 1
	 	 	 	 
	BB+ and Ba1 or above

	 	 	0.350	%
	Level 2
	 	 	 	 
	BB and Ba2

	 	 	0.450	%
	Level 3
	 	 	 	 
	Lower than Level 2

	 	 	0.500	%

     “Applicable Utilization Fee” means, as of any date that the sum of the
aggregate Advances plus the aggregate Available Amount of Letters of Credit exceeds 50% of
the aggregate Revolving Credit Commitments, a percentage per annum determined by reference
to the Public Debt Rating in effect on such date as set forth below:

	 	 	 	 	 
	Public Debt Rating	 	Applicable
	S&P/Moody's	 	Utilization Fee
	Level 1
	 	 	 	 
	BB+ and Ba1 or above

	 	 	0.250	%
	Level 2
	 	 	 	 
	BB and Ba2

	 	 	0.500	%
	Level 3
	 	 	 	 
	Lower than Level 2

	 	 	0.500	%

     “Assignment and Acceptance” means an assignment and acceptance entered into by
a Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of
Exhibit C hereto.

     “Available Amount” of any Letter of Credit means, at any time, the maximum
amount available to be drawn under such Letter of Credit at such time (assuming compliance
at such time with all conditions to drawing), converting all non-Dollar amounts into the
Dollar Equivalent thereof at such time.

     “Base Rate” means a fluctuating interest rate per annum in effect from time to
time, which rate per annum shall at all times be equal to the highest of:

     (a) the rate of interest announced publicly by Citibank in New York, New York,
from time to time, as Citibank’s base rate;

3-year Credit Agreement

2

 

     (b) the sum (adjusted to the nearest 1/4 of 1% or, if there is no nearest 1/4
of 1%, to the next higher 1/4 of 1%) of (i) 1/2 of 1% per annum, plus (ii) the
rate obtained by dividing (A) the latest three-week moving average of secondary
market morning offering rates in the United States for three-month certificates of
deposit of major United States money market banks, such three-week moving average
(adjusted to the basis of a year of 360 days) being determined weekly on each Monday
(or, if such day is not a Business Day, on the next succeeding Business Day) for the
three-week period ending on the previous Friday by Citibank on the basis of such
rates reported by certificate of deposit dealers to and published by the Federal
Reserve Bank of New York or, if such publication shall be suspended or terminated,
on the basis of quotations for such rates received by Citibank from three New York
certificate of deposit dealers of recognized standing selected by Citibank, by (B) a
percentage equal to 100% minus the average of the daily percentages specified during
such three-week period by the Board of Governors of the Federal Reserve System (or
any successor) for determining the maximum reserve requirement (including, but not
limited to, any emergency, supplemental or other marginal reserve requirement) for
Citibank with respect to liabilities consisting of or including (among other
liabilities) three-month U.S. dollar non-personal time deposits in the United
States, plus (iii) the average during such three-week period of the annual
assessment rates estimated by Citibank for determining the then current annual
assessment payable by Citibank to the Federal Deposit Insurance Corporation (or any
successor) for insuring U.S. dollar deposits of Citibank in the United States; and

     (c) 1/2 of one percent per annum above the Federal Funds Rate.

     “Base Rate Advance” means an Advance denominated in Dollars that bears interest
as provided in Section 2.07(a)(i).

     “Borrower Information” has the meaning specified in Section 9.08.

     “Borrowers” means, collectively, the Company and the Designated Subsidiaries
from time to time.

     “Borrowing” means a Revolving Credit Borrowing or a Swing Line Borrowing.

     “Business Day” means a day of the year on which banks are not required or
authorized by law to close in New York City and, if the applicable Business Day relates to
any Eurocurrency Rate Advances, on which dealings are carried on in the London interbank
market and banks are open for business in London and in the country of issue of the currency
of such Eurocurrency Rate Advance (or, in the case of an Advance denominated in Euros, on
which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET)
System is open).

     “Commitment” means a Revolving Credit Commitment, Swing Line Commitment or a
Letter of Credit Commitment.

     “Committed Currencies” means lawful currency of the United Kingdom of Great
Britain and Northern Ireland, lawful currency of The Swiss Federation, lawful currency of
Japan, Euro and any other currency requested by the applicable Borrower that can be provided
by all Lenders.

     “Committed L/C Currencies” means lawful currency of the United Kingdom of Great
Britain and Northern Ireland, lawful currency of The Swiss Federation, lawful currency of
Japan, lawful currency of Singapore, lawful currency of Canada, lawful currency of Sweden,
lawful currency of Denmark, lawful currency of Australia, Euro and any other currency
requested by the applicable Borrower that can be provided by all Issuing Banks.

     “Consolidated” refers to the consolidation of accounts in accordance with GAAP.

3-year Credit Agreement

3

 

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

     “Convert”, “Conversion” and “Converted” each refers to a
conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.08
or 2.09.

     “Debt” of any Person means, without duplication, (a) all indebtedness of such
Person for borrowed money, (b) all obligations of such Person for the deferred purchase
price of property or services (other than trade payables incurred in the ordinary course of
such Person’s business), (c) all obligations of such Person evidenced by notes, bonds,
debentures or other similar instruments, (d) all obligations of such Person created or
arising under any conditional sale or other title retention agreement with respect to
property acquired by such Person (even though the rights and remedies of the seller or
lender under such agreement in the event of default are limited to repossession or sale of
such property), (e) all obligations of such Person as lessee under leases that have been or
should be, in accordance with generally accepted accounting principles, recorded as capital
leases, (f) all obligations, contingent or otherwise, of such Person in respect of
acceptances, letters of credit or similar extensions of credit, (g) all obligations of such
Person in respect of Hedge Agreements, (h) all Debt of others referred to in clauses (a)
through (g) above or clause (i) below guaranteed directly or indirectly in any manner by
such Person, or in effect guaranteed directly or indirectly by such Person through an
agreement (1) to pay or purchase such Debt or to advance or supply funds for the payment or
purchase of such Debt, (2) to purchase, sell or lease (as lessee or lessor) property, or to
purchase or sell services, primarily for the purpose of enabling the debtor to make payment
of such Debt or to assure the holder of such Debt against loss, (3) to supply funds to or in
any other manner invest in the debtor (including any agreement to pay for property or
services irrespective of whether such property is received or such services are rendered) or
(4) otherwise to assure a creditor against loss, and (i) all Debt referred to in clauses (a)
through (h) above secured by (or for which the holder of such Debt has an existing right,
contingent or otherwise, to be secured by) any Lien on property (including, without
limitation, accounts and contract rights) owned by such Person, even though such Person has
not assumed or become liable for the payment of such Debt; provided,
however, that the term “Debt” shall not include obligations under agreements
providing for indemnification, deferred purchase price payments or similar obligations
incurred or assumed in connection with the acquisition or disposition of assets or stock,
whether by merger or otherwise.

     “Debt for Borrowed Money” of the Company means, without duplication, Debt for
money borrowed (including unreimbursed drawings under letters of credit) or any capitalized
lease obligation, any obligation under a purchase money mortgage, conditional sale or other
title retention agreement or any obligation under notes payable or drafts accepted
representing extensions of credit, but shall not include any Debt in respect of Hedge
Agreements.

     “Default” means any Event of Default or any event that would constitute an
Event of Default but for the requirement that notice be given or time elapse or both.

     “Designated Subsidiary” means any direct or indirect wholly-owned Subsidiary of
the Company designated for borrowing privileges under this Agreement pursuant to Section
9.09.

     “Designation Agreement” means, with respect to any Designated Subsidiary, an
agreement in the form of Exhibit E hereto signed by such Designated Subsidiary and the
Company.

     “Dollars” and the “$” sign each means lawful currency of the United
States of America.

     “Domestic Lending Office” means, with respect to any Lender, the office of such
Lender specified as its “Domestic Lending Office” opposite its name on Schedule I hereto or
in the Assignment and Acceptance pursuant to which it became a Lender, or such other office
of such Lender as such Lender may from time to time specify to the Company and the Agent.

3-year Credit Agreement

4

 

     “EBITDA” means, for any period, net income (or net loss) plus the sum
of (a) Interest Expense, (b) income tax expense, (c) depreciation expense, (d) amortization
expense, (e) non-cash, non-recurring charges in an amount not to exceed $50,000,000 taken
with respect to the impairment of the remaining book value of Cab (No. 1) Limited (formerly
known as Brands Hatch Leisure Limited), Octagon Worldwide Limited and Octagon Worldwide Inc.
and their respective Subsidiaries, (f) all impairment charges taken with respect to capital
expenditures made on or after January 1, 2003 on behalf of Cab (No. 1) Limited, Octagon
Worldwide Limited and Octagon Worldwide Inc. and their respective Subsidiaries, (g) payments
made by the Company not to exceed $185,000,000 (up to $90,000,000 of which may be in cash)
relating to the settlement of certain litigation or regulatory matters, (h) from and after
such time as the Company adopts the fair value based method of accounting for stock-based
employee compensation in accordance with Statement of Financial Accounting Standards No. 123
and Statement of Financial Accounting Standards No. 148, non-cash charges related to such
adoption, (i) cash payments made by the Company relating to the cash consideration paid by
the Company not exceeding $160,000,000 in connection with the liabilities and obligations of
Cab (No. 1) Limited, Octagon Worldwide Limited and Octagon Worldwide Inc. and their
respective Subsidiaries, (j) non-cash, non-recurring long-lived asset investment impairment
charges in an amount not to exceed $500,000,000 taken in the fiscal periods ending September
30, 2004, December 31, 2004, March 31, 2005 and June 30, 2005, (k) non-cash charges related
to the retirement of indebtedness and (l) non-cash investment impairment charges not to
exceed $25,000,000, in each case determined in accordance with GAAP for such period.

     “Effective Date” means May 10, 2004.

     “Eligible Assignee” means (i) a Lender; (ii) an Affiliate of a Lender; and
(iii) any other Person approved by the Agent, each Issuing Bank and, unless an Event of
Default has occurred and is continuing at the time any assignment is effected in accordance
with Section 9.07, the Company, each such approval not to be unreasonably withheld or
delayed; provided, however, that neither the Company nor an Affiliate of the
Company shall qualify as an Eligible Assignee.

     “Equivalent” in Dollars of any Committed Currency or Committed L/C Currency on
any date means the equivalent in Dollars of such currency determined by using the quoted
spot rate at which the Sub-Agent’s principal office in London offers to exchange Dollars for
such currency in London at approximately 4:00 P.M. (London time) (unless otherwise indicated
by the terms of this Agreement) on such date as is required pursuant to the terms of this
Agreement, and the “Equivalent” in any Committed Currency or Committed L/C Currency of
Dollars means the equivalent in such currency of Dollars determined by using the quoted spot
rate at which the Sub-Agent’s principal office in London offers to exchange such currency
for Dollars in London at approximately 4:00 P.M. (London time) (unless otherwise indicated
by the terms of this Agreement) on such date as is required pursuant to the terms of this
Agreement.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended
from time to time, and the regulations promulgated and rulings issued thereunder.

     “ERISA Affiliate” means any Person that for purposes of Title IV of ERISA is a
member of the Company’s controlled group, or under common control with the Company, within
the meaning of Section 414 of the Internal Revenue Code.

     “ERISA Event” means (a) the occurrence of a reportable event, within the
meaning of Section 4043 of ERISA, with respect to any Plan unless the 30-day notice
requirement with respect to such event has been waived by the PBGC; (b) the application for
a minimum funding waiver with respect to a Plan; (c) the provision by the administrator of
any Plan of a notice of intent to terminate such Plan pursuant to Section 4041(a)(2) of
ERISA (including any such notice with respect to a plan amendment referred to in Section
4041(e) of ERISA); (d) the cessation of operations at a facility of the Company or any ERISA
Affiliate in the circumstances described in Section 4062(e) of ERISA; (e) the withdrawal by
the Company or any ERISA Affiliate from a Multiple Employer Plan during a plan year for
which it was a substantial employer, as defined in Section 4001(a)(2) of ERISA; (f) the
conditions for the imposition of a lien under

3-year Credit Agreement

5

 

Section 302(f) of ERISA shall have been met with respect to any Plan; (g) the adoption
of an amendment to a Plan requiring the provision of security to such Plan pursuant to
Section 307 of ERISA; or (h) the institution by the PBGC of proceedings to terminate a Plan
pursuant to Section 4042 of ERISA, or the occurrence of any event or condition described in
Section 4042 of ERISA that constitutes grounds for the termination of, or the appointment of
a trustee to administer, a Plan.

     “EURIBO Rate” means, for any Interest Period, the rate per annum appearing on
Moneyline Telerate Markets Page 248 (or on any successor or substitute page, or any
successor to or substitute for Moneyline Telerate Markets, providing rate quotations
comparable to those currently provided on such page of Moneyline Telerate Markets, as
determined by the Agent from time to time for purposes of providing quotations of interest
rates applicable to deposits in Euro by reference to the Banking Federation of the European
Union Settlement Rates for deposits in Euro) at approximately 10:00 a.m., London time, two
Business Days prior to the commencement of such Interest Period, as the rate for deposits in
Euro with a maturity comparable to such Interest Period or, if for any reason such rate is
not available, the average (rounded upward to the nearest whole multiple of 1/16 of 1% per
annum, if such average is not such a multiple) of the respective rates per annum at which
deposits in Euros are offered by the principal office of each of the Reference Banks in
London, England to prime banks in the London interbank market at 11:00 A.M. (London time)
two Business Days before the first day of such Interest Period in an amount substantially
equal to such Reference Bank’s Eurocurrency Rate Advance comprising part of such Borrowing
to be outstanding during such Interest Period and for a period equal to such Interest Period
(subject, however, to the provisions of Section 2.08).

     “Euro” means the lawful currency of the European Union as constituted by the
Treaty of Rome which established the European Community, as such treaty may be amended from
time to time and as referred to in the EMU legislation.

     “Eurocurrency Lending Office” means, with respect to any Lender, the office of
such Lender specified as its “Eurocurrency Lending Office” opposite its name on Schedule I
hereto or in the Assignment and Acceptance pursuant to which it became a Lender (or, if no
such office is specified, its Domestic Lending Office), or such other office of such Lender
as such Lender may from time to time specify to the Company and the Agent.

     “Eurocurrency Liabilities” has the meaning assigned to that term in Regulation
D of the Board of Governors of the Federal Reserve System, as in effect from time to time.

     “Eurocurrency Rate” means, for any Interest Period for each Eurocurrency Rate
Advance comprising part of the same Borrowing, an interest rate per annum equal to the rate
per annum obtained by dividing (a)(i) in the case of any Borrowing denominated in Dollars or
any Committed Currency other than Euro, the rate per annum (rounded upward to the nearest
whole multiple of 1/16 of 1% per annum) appearing on Moneyline Telerate Markets Page 3750
(or any successor page) as the London interbank offered rate for deposits in Dollars or the
applicable Committed Currency at approximately 11:00 A.M. (London time) two Business Days
prior to the first day of such Interest Period for a term comparable to such Interest Period
or, if for any reason such rate is not available, the average (rounded upward to the nearest
whole multiple of 1/16 of 1% per annum, if such average is not such a multiple) of the
respective rates per annum at which deposits in Dollars or the applicable Committed Currency
are offered by the principal office of each of the Reference Banks in London, England to
prime banks in the London interbank market at 11:00 A.M. (London time) two Business Days
before the first day of such Interest Period in an amount substantially equal to such
Reference Bank’s Eurocurrency Rate Advance comprising part of such Borrowing to be
outstanding during such Interest Period and for a period equal to such Interest Period
(subject, however, to the provisions of Section 2.08) or (ii) in the case of any Borrowing
denominated in Euro, the EURIBO Rate by (b) a percentage equal to 100% minus the
Eurocurrency Rate Reserve Percentage for such Interest Period.

3-year Credit Agreement

6

 

     “Eurocurrency Rate Advance” means an Advance denominated in Dollars or a
Committed Currency that bears interest as provided in Section 2.07(a)(ii).

     “Eurocurrency Rate Reserve Percentage” for any Interest Period for all
Eurocurrency Rate Advances comprising part of the same Borrowing means the reserve
percentage applicable two Business Days before the first day of such Interest Period under
regulations issued from time to time by the Board of Governors of the Federal Reserve System
(or any successor) for determining the maximum reserve requirement (including, without
limitation, any emergency, supplemental or other marginal reserve requirement) for a member
bank of the Federal Reserve System in New York City with respect to liabilities or assets
consisting of or including Eurocurrency Liabilities (or with respect to any other category
of liabilities that includes deposits by reference to which the interest rate on
Eurocurrency Rate Advances is determined) having a term equal to such Interest Period.

     “Events of Default” has the meaning specified in Section 6.01.

     “Existing Credit Agreement” has the meaning specified in the Preliminary
Statement.

     “Federal Funds Rate” means, for any period, a fluctuating interest rate per
annum equal for each day during such period to the weighted average of the rates on
overnight Federal funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers, as published for such day (or, if such day is not a Business Day, for
the next preceding 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 of the quotations for
such day on such transactions received by the Agent from three Federal funds brokers of
recognized standing selected by it.

     “GAAP” has the meaning specified in Section 1.03.

     “Guaranteed Obligations” has the meaning specified in Section 7.01.

     “Hedge Agreements” means interest rate swap, cap or collar agreements, interest
rate future or option contracts, currency swap agreements, currency future or option
contracts and other similar agreements.

     “Interest Expense” means, for any period, without duplication, (i) interest
expense (including the interest component on obligations under capitalized leases), whether
paid or accrued, on all Debt of the Company and its Consolidated Subsidiaries and (ii) only
for purposes of Section 5.03(a)(ii), cash dividends, whether paid or accrued, on any
preferred stock of the Company that is convertible into common stock of the Company within
48 months following the issuance thereof, in each case for such period.

     “Interest Period” means, for each Eurocurrency Rate Advance comprising part of
the same Borrowing, the period commencing on the date of such Eurocurrency Rate Advance or
the date of the Conversion of any Base Rate Advance into such Eurocurrency Rate Advance and
ending on the last day of the period selected by the Borrower requesting such Borrowing
pursuant to the provisions below and, thereafter, with respect to Eurocurrency Rate
Advances, each subsequent period commencing on the last day of the immediately preceding
Interest Period and ending on the last day of the period selected by such Borrower pursuant
to the provisions below. The duration of each such Interest Period shall be one, two, three
or six months, or nine or twelve months if available to all Lenders, as such Borrower may,
upon notice received by the Agent not later than 11:00 A.M. (New York City time) on the
third Business Day prior to the first day of such Interest Period, select; provided,
however, that:

     (i) such Borrower may not select any Interest Period that ends after the
Termination Date;

3-year Credit Agreement

7

 

     (ii) Interest Periods commencing on the same date for Eurocurrency Rate
Advances comprising part of the same Borrowing shall be of the same duration;

     (iii) whenever the last day of any Interest Period would otherwise occur on a
day other than a Business Day, the last day of such Interest Period shall be
extended to occur on the next succeeding Business Day, provided,
however, that, if such extension would cause the last day of such Interest
Period to occur in the next following calendar month, the last day of such Interest
Period shall occur on the next preceding Business Day; and

     (iv) whenever the first day of any Interest Period occurs on a day of an
initial calendar month for which there is no numerically corresponding day in the
calendar month that succeeds such initial calendar month by the number of months
equal to the number of months in such Interest Period, such Interest Period shall
end on the last Business Day of such succeeding calendar month.

     “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended
from time to time, and the regulations promulgated and rulings issued thereunder.

     “Issuing Bank” means an Initial Issuing Bank or any Eligible Assignee to which
a portion of the Letter of Credit Commitment hereunder has been assigned pursuant to Section
9.07 so long as such Eligible Assignee expressly agrees to perform in accordance with their
terms all of the obligations that by the terms of this Agreement are required to be
performed by it as an Issuing Bank and notifies the Agent of its Applicable Lending Office
(which information shall be recorded by the Agent in the Register), for so long as the
Initial Issuing Bank or Eligible Assignee, as the case may be, shall have a Letter of Credit
Commitment.

     “L/C Cash Deposit Account” means an interest bearing cash deposit account to be
established and maintained by the Agent, over which the Agent shall have sole dominion and
control, upon terms as may be satisfactory to the Agent.

     “L/C Related Documents” has the meaning specified in Section 2.06(c)(i).

     “Lenders” means the Initial Lenders, each Swing Line Bank, each Issuing Bank
and each Person that shall become a party hereto pursuant to Section 9.07.

     “Letter of Credit” has the meaning specified in Section 2.01(c).

     “Letter of Credit Agreement” has the meaning specified in Section 2.03(a).

     “Letter of Credit Commitment” means, with respect to each Issuing Bank, the
obligation of such Issuing Bank to issue Letters of Credit to any Borrower in (a) the amount
set forth opposite the Issuing Bank’s name on the signature pages hereto under the caption
“Letter of Credit Commitment” or (b) if such Issuing Bank has entered into one or more
Assignment and Acceptances, the amount set forth for such Issuing Bank in the Register
maintained by the Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit
Commitment”, in each case as such amount may be reduced prior to such time pursuant to
Section 2.05.

     “Letter of Credit Facility” means, at any time, an amount equal to the least of
(a) the aggregate amount of the Issuing Banks’ Letter of Credit Commitments at such time,
(b) $200,000,000 and (c) the aggregate amount of the Revolving Credit Commitments, as such
amount may be reduced at or prior to such time pursuant to Section 2.05.

3-year Credit Agreement

8

 

     “Lien” means any lien, security interest or other charge or encumbrance of any
kind, or any other type of preferential arrangement, including, without limitation, the lien
or retained security title of a conditional vendor and the assignment of the right to
receive income.

     “Loan Document” means this Agreement, the Notes, if any, and the other L/C
Related Documents.

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

     “Material Adverse Effect” means a material adverse effect on (a) the business,
financial condition or results of operations of the Company and its Consolidated
Subsidiaries taken as a whole, (b) the rights and remedies of the Agent or any Lender under
this Agreement or any other Loan Document or (c) the ability of the Company to perform its
obligations under this Agreement or any other Loan Document.

     “Material Subsidiary” means each Consolidated Subsidiary of the Company
organized in the United States or any political subdivision thereof that had, as of the end
of the most recently ended fiscal year, aggregate revenues for such fiscal year equal to at
least $25,000,000.

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

     “Multiemployer Plan” means a multiemployer plan, as defined in Section
4001(a)(3) of ERISA, to which the Company or any ERISA Affiliate is making or accruing an
obligation to make contributions, or has within any of the preceding five plan years made or
accrued an obligation to make contributions.

     “Multiple Employer Plan” means a single employer plan, as defined in Section
4001(a)(15) of ERISA, subject to Title IV of ERISA that (a) is maintained for employees of
the Company or any ERISA Affiliate and at least one Person other than the Company and the
ERISA Affiliates or (b) was so maintained and in respect of which the Company or any ERISA
Affiliate could have liability under Section 4064 or 4069 of ERISA in the event such plan
has been or were to be terminated.

     “Net Cash Proceeds” means, with respect to any sale, lease, transfer or other
disposition of any asset, business or entity by the Company or any of its Subsidiaries, the
aggregate amount of cash received by the Company and its Subsidiaries in connection with
such transaction after deducting therefrom only (without duplication) (a) reasonable and
customary brokerage commissions, underwriting fees and discounts, legal fees, finder’s fees
and other similar fees and commissions, (b) the amount of estimated taxes payable as a
direct result of such transaction (for the avoidance of doubt, taxes in respect of the
operations of such asset, business or entity need not be deducted) and (c) the amount of any
Debt secured by a Lien on such asset that, by the terms of the agreement or instrument
governing such Debt, is required to be repaid by the Company or such Subsidiary upon such
disposition, in each case to the extent, but only to the extent, that the amounts so
deducted are, at the time of receipt of such cash, actually paid or payable to a Person that
is not an Affiliate of the Company and are properly attributable to such transaction or to
the asset, business or entity that is the subject thereof, as determined by an appropriate
officer of the Company.

     “Note” means a promissory note of any Borrower payable to the order of any
Lender, delivered pursuant to a request made under Section 2.16 in substantially the form of
Exhibit A hereto, evidencing the aggregate indebtedness of such Borrower to such Lender
resulting from the Advances made by such Lender to such Borrower.

     “Notice of Issuance” has the meaning specified in Section 2.03(a).

     “Notice of Revolving Credit Borrowing” has the meaning specified in Section
2.02(a).

     “Notice of Swing Line Borrowing” has the meaning specified in Section 2.02(b).

3-year Credit Agreement

9

 

     “Payment Office” means, for any Committed Currency or Committed L/C Currency,
such office of Citibank as shall be from time to time selected by the Agent and notified by
the Agent to the Company and the Lenders.

     “PBGC” means the Pension Benefit Guaranty Corporation (or any successor).

     “Person” means an individual, partnership, corporation (including a business
trust), joint stock company, trust, unincorporated association, joint venture, limited
liability company or other entity, or a government or any political subdivision or agency
thereof.

     “Plan” means a Single Employer Plan or a Multiple Employer Plan.

     “Public Debt Rating” means, as of any date, the lowest rating that has been
most recently announced by either S&P or Moody’s, as the case may be, for any class of
non-credit enhanced long-term senior unsecured debt issued by the Company. For purposes of
the foregoing, (a) if only one of S&P and Moody’s shall have in effect a Public Debt Rating,
the Applicable Margin, the Applicable Percentage and the Applicable Utilization Fee shall be
determined by reference to the available Public Debt Rating announced by either S&P or
Moody’s; (b) if neither S&P nor Moody’s shall have in effect a Public Debt Rating, the
Applicable Margin, the Applicable Percentage and the Applicable Utilization Fee will be set
in accordance with Level 3 under the definition of “Applicable Margin”,
“Applicable Percentage” or “Applicable Utilization Fee”, as the case may be;
(c) if any such rating established by S&P or Moody’s shall be changed, such change shall be
effective as of the date on which such change is first announced publicly by the rating
agency making such change; and (d) if S&P or Moody’s shall change the basis on which ratings
are established, each reference to the Public Debt Rating announced by S&P or Moody’s, as
the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case
may be.

     “Ratable Share” of any amount means, with respect to any Lender at any time,
the product of (a) a fraction the numerator of which is the amount of such Lender’s
Revolving Credit Commitment at such time and the denominator of which is the aggregate
Revolving Credit Commitments at such time and (b) such amount.

     “Reference Banks” means Citibank, HSBC Bank USA and JPMorgan Chase Bank, N.A.

     “Register” has the meaning specified in Section 9.07(d).

     “Required Lenders” means at any time Lenders owed at least a majority in
interest of the then aggregate outstanding principal amount (based on the Equivalent in
Dollars at such time) of the Revolving Credit Advances, or, if no such principal amount is
then outstanding, Lenders having at least a majority in amount of the Revolving Credit
Commitments.

     “Revolving Credit Advance” means an Advance by a Lender to any Borrower as part
of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate
Advance (each of which shall be a “Type” of Revolving Credit Advance).

     “Revolving Credit Borrowing” means a borrowing consisting of simultaneous
Revolving Credit Advances of the same Type made by each of the Lenders pursuant to Sections
2.01(a) or 2.03(c).

     “Restatement Date” has the meaning specified in Section 3.01.

     “Revolving Credit Commitment” means as to any Lender the obligation of such
Lender to make Revolving Credit Advances to any Borrower in (a) the Dollar amount set forth
opposite such Lender’s name on the signature pages hereof under the caption “Revolving
Credit Commitment” or (b) if such Lender has entered into any Assignment and Acceptance, the
Dollar amount set forth for such Lender in the Register

3-year Credit Agreement

10

 

maintained by the Agent pursuant to Section 9.07(d), as such amount may be reduced
pursuant to Section 2.05.

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

     “Single Employer Plan” means a single employer plan, as defined in Section
4001(a)(15) of ERISA, subject to Title IV of ERISA that (a) is maintained for employees of
the Company or any ERISA Affiliate and no Person other than the Company and the ERISA
Affiliates or (b) was so maintained and in respect of which the Company or any ERISA
Affiliate could have liability under Section 4069 of ERISA in the event such plan has been
or were to be terminated.

     “SPC” has the meaning specified in Section 9.07(f) hereto.

     “Sub-Agent” means Citibank International plc.

     “Subsidiary” of any Person means any corporation, partnership, joint venture,
limited liability company, trust or estate of which (or in which) more than 50% of (a) the
issued and outstanding capital stock having ordinary voting power to elect a majority of the
Board of Directors of such corporation (irrespective of whether at the time capital stock of
any other class or classes of such corporation shall or might have voting power upon the
occurrence of any contingency), (b) the interest in the capital or profits of such limited
liability company, partnership or joint venture or (c) the beneficial interest in such trust
or estate is at the time directly or indirectly owned or controlled by such Person, by such
Person and one or more of its other Subsidiaries or by one or more of such Person’s other
Subsidiaries.

     “Swing Line Advance” means an Advance in Dollars made by any Swing Line Bank to
any Borrower as part of a Swing Line Borrowing pursuant to Section 2.01(b) or by any Lender
pursuant to Section 2.02(b).

     “Swing Line Bank” means Citibank and any other Lender that expressly agrees in
a writing delivered to the Company and the Agent to perform in accordance with all of the
obligations that, by the terms of this Agreement, are required to be performed by such
Lender as a Swing Line Bank.

     “Swing Line Borrowing” means a borrowing consisting of a Swing Line Advance
made by any Swing Line Bank.

     “Swing Line Commitment” means with respect to any Swing Line Bank at any time
the amount set forth opposite such Swing Line Bank’s name on the signature pages hereof, as
such amount may be increased, terminated or reduced, as the case may be, at or prior to such
time pursuant to Section 2.05.

     “Swing Line Facility” has the meaning specified in Section 2.01(b).

     “Termination Date” means the earlier of (a) May 9, 2007 and (b) the date of
termination in whole of the Commitments pursuant to Section 2.05 or 6.01.

     “Unissued Letter of Credit Commitment” means, with respect to any Issuing Bank,
the obligation of such Issuing Bank to issue Letters of Credit to any Borrower in an amount
(converting all non-Dollar amounts into the then Dollar Equivalent thereof) equal to the
excess of (a) the amount of its Letter of Credit Commitment over (b) the aggregate Available
Amount of all Letters of Credit issued by such Issuing Bank.

     “Unused Commitment” means, with respect to each Lender at any time, (a) the
amount of such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i)
the aggregate principal amount of all Revolving Credit Advances (based in respect of any
Revolving Credit Advances denominated in a Committed Currency or the Equivalent in Dollars
at such time) made by such Lender (in its capacity as a Lender) and outstanding at such
time, plus (ii) such Lender’s Ratable Share of (A) the

3-year Credit Agreement

11

 

aggregate principal amount of all Swing Line Advances then outstanding and (B) the
aggregate Available Amount of all the Letters of Credit outstanding at such time.

     “Voting Stock” means capital stock issued by a corporation, or equivalent
interests in any other Person, the holders of which are ordinarily, in the absence of
contingencies, entitled to vote for the election of directors (or persons performing similar
functions) of such Person, even if the right so to vote has been suspended by the happening
of such a contingency.

          SECTION 1.02. Computation of Time Periods. In this Agreement in the computation of
periods of time from a specified date to a later specified date, the word “from” means “from and
including” and the words “to” and “until” each mean “to but excluding”.

          SECTION 1.03. Accounting Terms. . All accounting terms not specifically defined
herein shall be construed in accordance with generally accepted accounting principles consistent
with those applied in the preparation of the financial statements referred to in Section 4.01(e),
as amended by the Company’s adoption of the fair value based method of accounting for stock-based
employee compensation in accordance with Statement of Financial Accounting Standards No. 123 and
Statement of Financial Accounting Standards No. 148 (“GAAP”).

ARTICLE II

AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT

          SECTION 2.01. The Advances. (a) Revolving Credit Advances. Each Lender
severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit
Advances to any Borrower from time to time on any Business Day during the period from the Effective
Date until the Termination Date in an aggregate amount (based in respect of any Revolving Credit
Advances to be denominated in a Committed Currency on the Equivalent in Dollars determined on the
date of delivery of the applicable Notice of Borrowing) for all Borrowers not to exceed such
Lender’s Unused Commitment. Each Borrowing shall be in an aggregate amount of $5,000,000 or an
integral multiple of $100,000 in excess thereof in the case of Revolving Credit Advances
denominated in Dollars and the Equivalent of $5,000,000 or an integral multiple of $100,000 in
excess thereof in the case of Revolving Credit Advances denominated in any Committed Currency
(determined on the date of the applicable Notice of Borrowing) and shall consist of Revolving
Credit Advances of the same Type made on the same day by the Lenders ratably according to their
respective Revolving Credit Commitments. Within the limits of each Lender’s Revolving Credit
Commitment, any Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.10 and
reborrow under this Section 2.01(a).

          (b) Swing Line Advances. Each Swing Line Bank severally agrees, on the terms and
conditions hereinafter set forth, to make Swing Line Advances to any Borrower from time to time on
any Business Day during the period from the Effective Date until the Termination Date (i) in an
aggregate amount of Swing Line Advances made by all Swing Line Banks to all Borrowers not to exceed
at any time outstanding $5,000,000 (the “Swing Line Facility”) and (ii) in an amount not to exceed
the Unused Commitments of the Lenders on such Business Day. No Swing Line Advance shall be used
for the purpose of funding the payment of principal of any other Swing Line Advance. Each Swing
Line Borrowing shall be in an amount of $500,000 or an integral multiple of $10,000 in excess
thereof and shall consist of a Base Rate Advance. Within the limits of the Swing Line Facility and
within the limits referred to in clause (ii) above, any Borrower may borrow under this Section
2.01(b), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(b).

          (c) Letters of Credit. Each Issuing Bank agrees, on the terms and conditions
hereinafter set forth, to issue letters of credit (each, a “Letter of Credit”) for the
account of any Borrower from time to time on any Business Day during the period from the Effective
Date until 30 days before the Termination Date (i) in an aggregate Available Amount for all Letters
of Credit issued by all Issuing Banks not to exceed at any time the Letter of Credit Facility at
such time, (ii) in an amount for each Issuing Bank (converting all non-Dollar amounts into the then
Dollar Equivalent thereof) not to exceed the amount of such Issuing Banks’ Letter of Credit
Commitment at such time and (iii) in an amount for each such Letter of Credit (converting all
non-Dollar amounts into the then Dollar Equivalent thereof) not to exceed an amount equal to the
Unused Commitments of the Lenders

3-year Credit Agreement

12

 

at such time. Each Letter of Credit shall be in an amount of
$25,000 (or the Equivalent thereof in any Committed L/C Currency) or any integral multiple of
$1,000 in excess thereof. No Letter of Credit shall have an expiration date (including all rights
of any Borrower or the beneficiary to require renewal) later than the earlier of (x) 15 days prior
to the Termination Date or (y) the date that is one year after the issuance thereof;
provided that any Letter of Credit which provides for automatic one-year extension(s) of
such expiration date shall be deemed to comply with the foregoing requirement if the Issuing Bank
has the unconditional right to prevent any such automatic extension from taking place. Within the
limits referred to above, any Borrower may request the issuance of Letters of Credit under this
Section 2.01(c), repay any Advances resulting from drawings thereunder pursuant to Section 2.03(c)
and request the issuance of additional Letters of Credit under this Section 2.01(c);
provided that such Borrower shall only request Letters of Credit to be issued by Citibank
at any time hereunder. Each letter of credit listed on Schedule 2.01(b) shall be deemed to
constitute a Letter of Credit issued hereunder, and each Lender that is an issuer of such a Letter
of Credit shall, for purposes of Section 2.03, be deemed to be an Issuing Bank for each such letter
of credit, provided that all such letters of credit shall be permitted to expire on their
respective expiration dates as in effect on the date of this Agreement (and the respective Issuing
Banks are permitted to take such steps under such letters of credit which have automatic renewal or
extension provisions to prevent such automatic renewals or extensions from occurring) and any
replacement of any such letter of credit shall be issued by an Issuing Bank pursuant to the terms
of this Agreement. The terms “issue”, “issued”, “issuance” and all similar terms, when applied to
a Letter of Credit, shall include any renewal, extension or amendment thereof.

          SECTION 2.02. Making the Advances. (a) Except as otherwise provided in Section
2.02(b) or Section 2.03(a) and except with respect to Advances made pursuant to Section 2.03(c),
each Revolving Credit Borrowing shall be made on notice, given not later than (x) 10:00 A.M. (New
York City time) on the third Business Day prior to the date of the proposed Revolving Credit
Borrowing in the case of a Revolving Credit Borrowing consisting of Eurocurrency Rate Advances
denominated in Dollars, (y) 4:00 P.M. (London time) on the third Business Day prior to the date of
the proposed Revolving Credit Borrowing in the case of a Revolving Credit Borrowing consisting of
Eurocurrency Rate Advances denominated in any Committed Currency, or (z) 12:00 noon (New York City
time) on the date of the proposed Revolving Credit Borrowing in the case of a Revolving Credit
Borrowing consisting of Base Rate Advances, by any Borrower to the Agent (and, in the case of a
Revolving Credit Borrowing consisting of Eurocurrency Rate Advances, simultaneously to the
Sub-Agent), which shall give to each Lender prompt notice thereof by facsimile. Each such notice
of a Revolving Credit Borrowing (a “Notice of Revolving Credit Borrowing”) shall be by
telephone, confirmed immediately in writing, or facsimile in substantially the form of Exhibit B
hereto, specifying therein the requested (i) date of such Revolving Credit Borrowing, (ii) Type of
Advances comprising such Revolving Credit Borrowing, (iii) aggregate amount of such Revolving
Credit Borrowing, and (iv) in the case of a Revolving Credit Borrowing consisting of Eurocurrency
Rate Advances, initial Interest Period and currency for each such Advance; provided,
however, that if any such notice shall fail to specify a currency, Dollars shall be deemed
to have been specified. Each Lender shall, before 2:00 P.M. (New York City time) on the date of
such Revolving Credit Borrowing, in the case of a Revolving Credit Borrowing consisting of
Revolving Credit Advances denominated in Dollars, and before 4:00 P.M. (London time) on the date of
such Revolving Credit Borrowing, in the case of a Revolving Credit Borrowing consisting of
Eurocurrency Rate Advances denominated in any Committed Currency, make available for the account of
its Applicable Lending Office to the Agent at the applicable Agent’s Account, in same day funds,
such Lender’s ratable portion of such Revolving Credit Borrowing. After the Agent’s receipt of
such funds and upon fulfillment of the applicable conditions set forth in Article III, the Agent
will make such funds available to the applicable Borrower requesting the Revolving Credit Borrowing
at the Agent’s address referred to in Section 9.02 or, in the case of a Revolving Credit Borrowing
in a Committed Currency, at the applicable Payment Office, as the case may be; provided,
however, that the Agent shall first make a portion of such funds equal to the aggregate
principal amount of any Swing Line Advances made by the Swing Line Banks and outstanding on the
date of such Revolving Credit Borrowing, plus interest accrued and unpaid thereon to and as of such
date, available to the Swing Line Banks for repayment of such Swing Line Advances.

          (b) Each Swing Line Borrowing shall be made on notice, given not later than 3:00 P.M. (New
York City time) on the date of the proposed Swing Line Borrowing by the applicable Borrower to each
Swing Line Bank and the Agent, of which the Agent shall give prompt notice to the Lenders. Each
such notice of a Swing Line Borrowing (a “Notice of Swing Line Borrowing”) shall be by telephone,
confirmed at once in writing, or
facsimile, specifying therein the requested (i) date of such Borrowing, (ii) amount of such
Borrowing and (iii) maturity of such Borrowing (which maturity shall be no later than the tenth
Business Day after the requested date of

3-year Credit Agreement

13

 

such Borrowing. Each Swing Line Bank shall, before 5:00
P.M. (New York City time) on the date of such Swing Line Borrowing, make such Swing Line Bank’s
ratable portion of such Swing Line Borrowing available (based on the respective Swing Line
Commitments of the Swing Line Banks) to the Agent at the Agent’s Account, in same day funds in
Dollars. After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions
set forth in Article III, the Agent will make such funds available to the applicable Borrower at
the Agent’s address referred to in Section 9.02. The principal amount of any Swing Line Borrowing
made pursuant to this Section 2.02(b) shall accrue interest at the Base Rate and shall be for the
account of the Swing Line Bank from the date such funds are made available to such Borrower to the
date on which each other Lender purchases from such Swing Line Bank and such Swing Line Bank sells
and assigns to each such other Lender such other Lender’s Ratable Share of such outstanding Swing
Line Advance pursuant to the immediately following sentence of this Section 2.02(b). Upon written
demand by any Swing Line Bank with a Swing Line Advance, with a copy of such demand to the Agent,
each other Lender will purchase from such Swing Line Bank, and such Swing Line Bank shall sell and
assign to each such other Lender, such other Lender’s Ratable Share of such outstanding Swing Line
Advance, by making available for the account of its Applicable Lending Office to the Agent for the
account of such Swing Line Bank, by deposit or transfer to the Agent’s Account, in same day funds,
an amount equal to the portion of the outstanding principal amount of such Swing Line Advance to be
purchased by such Lender. Each Borrower hereby agrees to each such sale and assignment. Each
Lender agrees to purchase its Ratable Share of an outstanding Swing Line Advance on (i) the
Business Day on which demand therefor is made by the Swing Line Bank which made such Advance,
provided that notice of such demand is given not later than 11:00 A.M. (New York City time) on such
Business Day or (ii) the first Business Day next succeeding such demand if notice of such demand is
given after such time. Upon any such assignment by a Swing Line Bank to any other Lender of a
portion of a Swing Line Advance, such Swing Line Bank represents and warrants to such other Lender
that such Swing Line Bank is the legal and beneficial owner of such interest being assigned by it,
but makes no other representation or warranty and assumes no responsibility with respect to such
Swing Line Advance, this Agreement, any Notes or any Borrower. If and to the extent that any
Lender shall not have so made the amount of such Swing Line Advance available to the Agent, such
Lender agrees to pay to the Agent forthwith on demand such amount together with interest thereon,
for each day from the date such Lender is required to have made such amount available to the Agent
until the date such amount is paid to the Agent, at the Federal Funds Rate. If such Lender shall
pay to the Agent such amount for the account of such Swing Line Bank on any Business Day, such
amount so paid in respect of principal shall constitute a Swing Line Advance made by such Lender on
such Business Day for purposes of this Agreement, and the outstanding principal amount of the Swing
Line Advance made by such Swing Line Bank shall be reduced by such amount on such Business Day.

          (c) Anything in subsection (a) above to the contrary notwithstanding, (i) no Borrower may
select Eurocurrency Rate Advances for any Revolving Credit Borrowing if the aggregate amount of
such Borrowing is less than $5,000,000 (or the Equivalent thereof in a Committed Currency) or if
the obligation of the applicable Lenders to make Eurocurrency Rate Advances shall then be suspended
pursuant to Section 2.08 or 2.12 and (ii) the Eurocurrency Rate Advances may not be outstanding as
part of more than twenty separate Borrowings.

          (d) Each Notice of Revolving Credit Borrowing and each Notice of Swing Line Borrowing of any
Borrower shall be irrevocable and binding on such Borrower. In the case of any Revolving Credit
Borrowing that the related Notice of Revolving Credit Borrowing specifies is to be comprised of
Eurocurrency Rate Advances, the applicable Borrower requesting such Revolving Credit Borrowing
shall indemnify each applicable Lender against any loss, cost or expense incurred by such Lender as
a result of any failure to fulfill on or before the date specified in such Notice of Revolving
Credit Borrowing for such Revolving Credit Borrowing the applicable conditions set forth in Article
III, including, without limitation, any loss (excluding loss of anticipated profits), cost or
expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired
by such Lender to fund the Advance to be made by such Lender as part of such Revolving Credit
Borrowing when such Advance, as a result of such failure, is not made on such date.

          (e) Unless the Agent shall have received notice from an applicable Lender prior to the time of
any Revolving Credit Borrowing, except with respect to Borrowings pursuant to Section 2.03(c), or
any Swing Line Borrowing, as the case may be, that such Lender will not make available to the Agent
such Lender’s ratable portion of such Revolving Credit Borrowing or Swing Line Borrowing, as the
case may be, the Agent may assume
that such Lender has made such portion available to the Agent on the date of such Revolving
Credit Borrowing or Swing Line Borrowing, as the case may be, in accordance with subsection (a) or
(b) of this Section 2.02 and the

3-year Credit Agreement

14

 

Agent may, in reliance upon such assumption, make available to the
applicable Borrower proposing the Borrowing on such date a corresponding amount. If and to the
extent that such Lender shall not have so made such ratable portion available to the Agent, such
Lender and such Borrower severally agree to repay to the Agent forthwith on demand such
corresponding amount together with interest thereon, for each day from the date such amount is made
available to such Borrower until the date such amount is repaid to the Agent, at (i) in the case of
such Borrower, the higher of (A) the interest rate applicable at the time to the Advances
comprising such Borrowing and (B) the cost of funds incurred by the Agent in respect of such amount
and (ii) in the case of such Lender, (A) the Federal Funds Rate in the case of Advances denominated
in Dollars or (B) the cost of funds incurred by the Agent in respect of such amount in the case of
Advances denominated in Committed Currencies. If such Lender shall repay to the Agent such
corresponding amount, such amount so repaid shall constitute such Lender’s Revolving Credit Advance
as part of such Revolving Credit Borrowing or the Swing Line Bank’s Swing Line Advance as part of
such Swing Line Borrowing for purposes of this Agreement.

          (f) The failure of any applicable Lender or Swing Line Bank to make the Revolving Credit
Advance, except Advances made pursuant to Section 2.03(c), or Swing Line Advance, as the case may
be, to be made by it as part of any Borrowing shall not relieve any other Lender or Swing Line Bank
of its obligation, if any, hereunder to make its Revolving Credit Advance or Swing Line Advance on
the date of such Revolving Credit Borrowing or Swing Line Borrowing, as the case may be, but no
Lender or Swing Line Bank shall be responsible for the failure of any other Lender or Swing Line
Bank to make the Revolving Credit Advance or Swing Line Advance to be made by such other Lender or
Swing Line Bank on the date of any Revolving Credit Borrowing or Swing Line Borrowing, as the case
may be.

          SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit.
(a) Request for Issuance. Each Letter of Credit shall be issued upon notice, given not
later than 11:00 A.M. (New York City time) on the fifth Business Day prior to the date of the
proposed issuance of such Letter of Credit (or on such shorter notice as the applicable Issuing
Bank may agree), by any Borrower to any Issuing Bank, and such Issuing Bank shall give the Agent,
prompt notice thereof by facsimile. Each such notice of issuance of a Letter of Credit (a
“Notice of Issuance”) shall be by telephone, confirmed immediately in writing, or
facsimile, specifying therein the requested (i) date of such issuance (which shall be a Business
Day), (ii) Available Amount and currency of such Letter of Credit, (iii) expiration date of such
Letter of Credit (which shall not be later than the earlier of (x) 15 days prior to the Termination
Date or (y) the date that is one year after the issuance thereof; provided that any Letter
of Credit which provides for automatic one-year extension(s) of such expiration date shall be
deemed to comply with the foregoing requirement if the Issuing Bank has the unconditional right to
prevent any such automatic extension from taking place and each Issuing Bank hereby agrees to
exercise such right to prevent any such automatic extension for each Letter of Credit outstanding
after the Termination Date), (iv) name and address of the beneficiary of such Letter of Credit and
(v) form of such Letter of Credit, and shall be accompanied by such customary application and
agreement for letter of credit as such Issuing Bank may specify to the Borrower requesting such
issuance for use in connection with such requested Letter of Credit (a “Letter of Credit
Agreement”). If the requested form of such Letter of Credit is acceptable to such Issuing Bank
in its sole discretion, such Issuing Bank will, upon fulfillment of the applicable conditions set
forth in Article III, make such Letter of Credit available to the Borrower requesting such issuance
at its office referred to in Section 9.02 or as otherwise agreed with such Borrower in connection
with such issuance. In the event and to the extent that the provisions of any Letter of Credit
Agreement shall conflict with this Agreement, the provisions of this Agreement shall govern.

          (b) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
applicable Issuing Bank or the Lenders, such Issuing Bank hereby grants to each Lender, and each
Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Ratable Share of the Available Amount of such Letter of Credit. Each Borrower hereby
agrees to each such participation. In consideration and in furtherance of the foregoing, each
Lender hereby absolutely and unconditionally agrees to pay to the Agent, for the account of such
Issuing Bank, such Lender’s Ratable Share of each drawing made under a Letter of Credit funded by
such Issuing Bank and not reimbursed by the applicable Borrower on the date made, or of any
reimbursement payment required to be refunded to any Borrower for any reason. Each Lender
acknowledges and agrees that its obligation to acquire
participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or
reduction or termination of the Revolving Credit Commitments, and

3-year Credit Agreement

15

 

that each such payment shall be
made without any offset, abatement, withholding or reduction whatsoever. Each Lender further
acknowledges and agrees that its participation in each Letter of Credit will be automatically
adjusted to reflect such Lender’s Ratable Share of the Available Amount of such Letter of Credit at
each time such Lender’s Revolving Credit Commitment is amended pursuant to an assignment in
accordance with Section 9.07 or otherwise pursuant to this Agreement.

          (c) Drawing and Reimbursement. The payment by an Issuing Bank of a draft drawn under
any Letter of Credit shall constitute for all purposes of this Agreement the making by any such
Issuing Bank of a Revolving Credit Advance (and shall be made whether or not the conditions set
forth in Section 3.03 have been satisfied; it being understood that no representations or
warranties shall be made or deemed made by any Borrower in connection with such drawing), which, in
the case of a Letter of Credit denominated in Dollars, shall be a Base Rate Advance, in the amount
of such draft or, in the case of a Letter of Credit denominated in any currency other than Dollars,
shall be a Base Rate Advance in the Equivalent in Dollars on the date such draft is paid. Each
Issuing Bank shall give prompt notice (and such Issuing Bank will use its commercially reasonable
efforts to deliver such notice within one Business Day) of each drawing under any Letter of Credit
issued by it to the Company, the applicable Borrower (if not the Company) and the Agent. Upon
written demand by such Issuing Bank, with a copy of such demand to the Agent and the Company, each
Lender shall pay to the Agent such Lender’s Ratable Share of such outstanding Advance, by making
available for the account of its Applicable Lending Office to the Agent for the account of such
Issuing Bank, by deposit to the Agent’s Account, in same day funds, an amount equal to the portion
of the outstanding principal amount of such Advance to be funded by such Lender. Each Lender
acknowledges and agrees that its obligation to make Advances pursuant to this paragraph in respect
of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance
whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence
and continuance of a Default or reduction or termination of the Revolving Credit Commitments, and
that each such payment shall be made without any offset, abatement, withholding or reduction
whatsoever. Promptly after receipt thereof, the Agent shall transfer such funds to such Issuing
Bank. Each Lender agrees to fund its Ratable Share of any such outstanding Advance on (i) the
Business Day on which demand therefor is made by such Issuing Bank, provided that notice of
such demand is given not later than 11:00 A.M. (New York City time) on such Business Day, or (ii)
the first Business Day next succeeding such demand if notice of such demand is given after such
time. If and to the extent that any Lender shall not have so made the amount of such Advance
available to the Agent, such Lender agrees to pay to the Agent forthwith on demand such amount
together with interest thereon, for each day from the date of demand by any such Issuing Bank until
the date such amount is paid to the Agent, at the Federal Funds Rate for its account or the account
of such Issuing Bank, as applicable. If such Lender shall pay to the Agent such amount for the
account of any such Issuing Bank on any Business Day, such amount so paid in respect of principal
shall constitute a Revolving Credit Advance made by such Lender on such Business Day for purposes
of this Agreement, and the outstanding principal amount of such Advance made by such Issuing Bank
shall be reduced by such amount on such Business Day.

          (d) Letter of Credit Reports. Each Issuing Bank shall furnish (A) to the Agent and
each Lender on the first Business Day of each month a written report summarizing issuance and
expiration dates of Letters of Credit during the preceding month and drawings during such month
under all Letters of Credit and (B) to the Agent and each Lender (with a copy to the Company) on
the first Business Day of each calendar quarter a written report setting forth the average daily
aggregate Available Amount during the preceding calendar quarter of all Letters of Credit.

          (e) Failure to Make Advances. The failure of any Lender to make the Advance to be
made by it on the date specified in Section 2.03(c) shall not relieve any other Lender of its
obligation hereunder to make its Advance on such date, but no Lender shall be responsible for the
failure of any other Lender to make the Advance to be made by such other Lender on such date.

          SECTION 2.04. Fees. (a) Facility Fee. The Company agrees to pay to the
Agent for the account of each Lender a facility fee on the aggregate amount of such Lender’s
Revolving Credit Commitment from the Effective Date in the case of each Initial Lender and from the
effective date specified in the Assignment and Acceptance pursuant to which it became a Lender in
the case of each other Lender until the
Termination Date at a rate per annum equal to the Applicable Percentage in effect from time to
time, payable in arrears quarterly on the last day of each March, June, September and December,
commencing December 31, 2005, and on the Termination Date.

3-year Credit Agreement

16

 

          (b) Letter of Credit Fees. (i) Each Borrower shall pay to the Agent for the account
of each Lender a commission on such Lender’s Ratable Share of the average daily aggregate Available
Amount of all Letters of Credit issued at the request of such Borrower and outstanding from time to
time at a rate per annum equal to the Applicable Margin for Eurocurrency Rate Advances in effect
from time to time during such calendar quarter, payable in arrears quarterly on the third Business
Day after the last day of each March, June, September and December, commencing with the quarter
ended December 31, 2005, and on the Termination Date payable upon demand; provided that the
Applicable Margin shall be 2% above the Applicable Margin in effect upon the occurrence and during
the continuation of an Event of Default if the Borrowers are required to pay default interest
pursuant to Section 2.07(b).

     (ii) Each Borrower shall pay to each Issuing Bank for its own account a fee on the
aggregate Available Amount of all Letters of Credit issued by such Issuing Bank at the
request of such Borrower and outstanding from time to time during each calendar quarter at a
rate per annum equal to 0.125% payable in arrears quarterly on the third Business Day after
the last day of each March, June, September and December, commencing with the quarter ended
December 31, 2005, and on the Termination Date payable upon demand.

          (c) Agent’s Fees. The Company shall pay to the Agent for its own account such fees as
may from time to time be agreed between the Company and the Agent.

          SECTION 2.05. Optional Termination or Reduction of the Commitments. The Company
shall have the right, upon at least three Business Days’ notice to the Agent, to permanently
terminate in whole or reduce ratably in part the unused portions of the respective Commitments of
the Lenders, provided that, in the case of Revolving Credit Commitments, each partial reduction
shall be in the aggregate amount of $5,000,000 or an integral multiple of $100,000 in excess
thereof, and, in the case of Swing Line Commitments, each partial reduction shall be in the
aggregate amount of $500,000 or an integral multiple of $10,000 in excess thereof.

          SECTION 2.06. Repayment. (a) Revolving Credit Advances. Each Borrower
shall repay to the Agent for the ratable account of the Lenders on the Termination Date the
aggregate principal amount of the Revolving Credit Advances then outstanding to such Borrower.

          (b) Swing Line Advances. Each Borrower shall repay to the Agent for the account of
the Swing Line Banks and each other Lender which has made a Swing Line Advance the outstanding
principal amount of each Swing Line Advance made by each of them by no later than the earlier of
(i) the tenth Business Day after the requested date of such Borrowing and (ii) the Termination
Date.

          (c) Letter of Credit Reimbursements. The obligation of any Borrower under this
Agreement, any Letter of Credit Agreement and any other agreement or instrument, in each case, to
repay any Advance that results from payment of a drawing under a Letter of Credit shall be
unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement, such Letter of Credit Agreement and such other agreement or instrument under all
circumstances, including, without limitation, the following circumstances (it being understood that
any such payment by a Borrower is without prejudice to, and does not constitute a waiver of, any
rights such Borrower might have or might acquire as a result of the payment by any Lender of any
draft or the reimbursement by such Borrower thereof):

     (i) any lack of validity or enforceability of this Agreement, any Note, any Letter of
Credit Agreement, any Letter of Credit or any other agreement or instrument relating thereto
(all of the foregoing being, collectively, the “L/C Related Documents”);

     (ii) any change in the time, manner or place of payment of any Letter of Credit;

     (iii) the existence of any claim, set-off, defense or other right that any Borrower may
have at any time against any beneficiary or any transferee of a Letter of Credit (or any
Persons for which any such beneficiary or any such transferee may be acting), any Issuing
Bank, the Agent, any Lender or any other

3-year Credit Agreement

17

 

Person, whether in connection with the transactions
contemplated by the L/C Related Documents or any unrelated transaction;

     (iv) any statement or any 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;

     (v) payment by any Issuing Bank under a Letter of Credit against presentation of a
draft or certificate that does not substantially comply with the terms of such Letter of
Credit;

     (vi) any exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any guarantee, for all or any of the
obligations of any Borrower in respect of the L/C Related Documents; or

     (vii) any other circumstance or happening 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 any Borrower’s obligations hereunder.

          SECTION 2.07. Interest on Advances. (a) Scheduled Interest. Each Borrower
shall pay interest on the unpaid principal amount of each Revolving Credit Advance and Swing Line
Advance made to it and owing to each Lender from the date of such Revolving Credit Advance or Swing
Line Advance, as the case may be, until such principal amount shall be paid in full, at the
following rates per annum:

     (i) Base Rate Advances. During such periods as such Revolving Credit Advance
is a Base Rate Advance and for each Swing Line Advance, a rate per annum equal at all times
to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin
in effect from time to time plus (z) the Applicable Utilization Fee, if any, in effect from
time to time, payable in arrears quarterly on the last day of each March, June, September
and December during such periods and on the date such Base Rate Advance shall be Converted
or paid in full or Swing Line Advance is paid in full.

     (ii) Eurocurrency Rate Advances. During such periods as such Advance is a
Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period
for such Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such
Advance plus (y) the Applicable Margin in effect from time to time plus (z) the Applicable
Utilization Fee, if any, in effect from time to time, payable in arrears on the last day of
such Interest Period and, if such Interest Period has a duration of more than three months,
on each day that occurs during such Interest Period every three months from the first day of
such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or
paid in full.

          (b) Default Interest. Upon the occurrence and during the continuance of an Event of
Default under Section 6.01(a), the Borrowers shall pay interest on (i) the unpaid principal amount
of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i)
or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum
required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the
fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder
that is not paid when due, from the date such amount shall be due until such amount shall be paid
in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate
per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base
Rate Advances pursuant to clause (a)(i) above.

          SECTION 2.08. Interest Rate Determination. (a) Each Reference Bank agrees to
furnish to the Agent timely information for the purpose of determining each Eurocurrency Rate. If
any one or more of the Reference Banks shall not furnish such timely
information to the Agent for the purpose of determining any such interest rate, the Agent
shall determine such interest rate on the basis of timely information furnished by the remaining
Reference Banks. The Agent shall give prompt notice to the Company and the Lenders of the
applicable interest rate determined by the Agent for purposes of Section 2.07(a)(i) or (ii), and
the rate, if any, furnished by each Reference Bank for the purpose of determining the interest rate
under Section 2.07(a)(ii).

3-year Credit Agreement

18

 

          (b) If, with respect to any Eurocurrency Rate Advances, the Required Lenders notify the Agent
that (i) they are unable to obtain matching deposits in the London inter-bank market at or about
11:00 A.M. (London time) on the second Business Day before the making of a Revolving Credit
Borrowing in sufficient amounts to fund their respective Advances as a part of such Borrowing
during its Interest Period or (ii) the Eurocurrency Rate for any Interest Period for such Advances
will not adequately reflect the cost to such Required Lenders of making, funding or maintaining
their respective Eurocurrency Rate Advances for such Interest Period, the Agent shall forthwith so
notify the Company and the Lenders, whereupon (A) the Borrower of such Eurocurrency Advances will,
on the last day of the then existing Interest Period therefor, (1) if such Eurocurrency Rate
Advances are denominated in Dollars, either (x) prepay such Advances or (y) Convert such Advances
into Base Rate Advances and (2) if such Eurocurrency Rate Advances are denominated in any Committed
Currency, either (x) prepay such Advances or (y) redenominate such Advances into an Equivalent
amount of Dollars and Convert such Advances into Base Rate Advances and (B) the obligation of the
Lenders to make, or to Convert Advances into, Eurocurrency Rate Advances shall be suspended until
the Agent shall notify the Company and the Lenders that the circumstances causing such suspension
no longer exist.

          (c) If any Borrower shall fail to select the duration of any Interest Period for any
Eurocurrency Rate Advances in accordance with the provisions contained in the definition of
“Interest Period” in Section 1.01, the Agent will forthwith so notify such Borrower and the Lenders
and such Advances will automatically, on the last day of the then existing Interest Period
therefor, (i) if such Eurocurrency Rate Advances are denominated in Dollars, Convert into Base Rate
Advances and (ii) if such Eurocurrency Rate Advances are denominated in a Committed Currency, be
redenominated into an Equivalent amount of Dollars and be Converted into Base Rate Advances.

          (d) On the date on which the aggregate unpaid principal amount of Eurocurrency Rate Advances
comprising any Revolving Credit Borrowing shall be reduced, by payment or prepayment or otherwise,
to less than $5,000,000 (or the Equivalent thereof in any Committed Currency), such Advances shall
automatically Convert into Base Rate Advances.

          (e) Upon the occurrence and during the continuance of any Event of Default under Section
6.01(a), (i) each Eurocurrency Rate Advance will automatically, on the last day of the then
existing Interest Period therefor, (A) if such Eurocurrency Rate Advance is denominated in Dollars,
be Converted into a Base Rate Advance and (B) if such Eurocurrency Rate Advance is denominated in
any Committed Currency, be redenominated into an Equivalent amount of Dollars and be Converted into
a Base Rate Advance and (ii) the obligation of the Lenders to make, or to Convert Advances into,
Eurocurrency Rate Advances shall be suspended.

          (f) If Moneyline Telerate Markets Page 3750 is unavailable and fewer than two Reference Banks
furnish timely information to the Agent for determining the Eurocurrency Rate for any Eurocurrency
Rate Advances,

     (i) the Agent shall forthwith notify the Company and the Lenders that the interest rate
cannot be determined for such Eurocurrency Rate Advances,

     (ii) with respect to Eurocurrency Rate Advances, each such Advance will automatically,
on the last day of the then existing Interest Period therefor, (A) if such Eurocurrency Rate
Advance is denominated in Dollars, be prepaid by the applicable Borrower or be automatically
Converted into a Base Rate Advance and (B) if such Eurocurrency Rate Advance is denominated
in any Committed Currency, be prepaid by the applicable Borrower or be automatically
redenominated into an Equivalent amount of Dollars and be Converted into a Base Rate
Advance, and

     (iii) the obligation of the Lenders to make Eurocurrency Rate Advances or to Convert
Base Rate Advances into Eurocurrency Rate Advances shall be suspended until the Agent shall
notify the Company and the Lenders that the circumstances causing such suspension no longer
exist.

     SECTION 2.09. Optional Conversion of Revolving Credit Advances. The Borrower of any
Revolving Credit Advance may on any Business Day, upon notice given to the Agent not later than
11:00 A.M.

3-year Credit Agreement

19

 

(New York City time) on the third Business Day prior to the date of the proposed
Conversion and subject to the provisions of Sections 2.08 and 2.12, Convert all or any part of such
Advances denominated in Dollars of one Type comprising the same Borrowing into Advances denominated
in Dollars of the other Type; provided, however, that any Conversion of
Eurocurrency Rate Advances into Base Rate Advances shall be made only on the last day of an
Interest Period for such Eurocurrency Rate Advances, any Conversion of Base Rate Advances into
Eurocurrency Rate Advances shall be in an amount not less than the minimum amount specified in
Section 2.02(c) and no Conversion of any such Advances shall result in more separate Borrowings
than permitted under Section 2.02(c). Each such notice of a Conversion shall, within the
restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated
Revolving Credit Advances to be Converted, and (iii) if such Conversion is into Eurocurrency Rate
Advances, the duration of the initial Interest Period for each such Advance. Each notice of
Conversion shall be irrevocable and binding on the Borrower giving such notice.

          SECTION 2.10. Prepayments of Advances. (a) Optional. Each Borrower may,
upon notice at least one Business Day prior to the date of such prepayment, in the case of
Eurocurrency Rate Advances, and not later than 11:00 A.M. (New York City time) on the date of such
prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate
principal amount of the prepayment, and if such notice is given such Borrower shall, prepay the
outstanding principal amount of the Revolving Credit Advances comprising part of the same Revolving
Credit Borrowing or Swing Line Advances comprising part of the same Swing Line Borrowing in whole
or ratably in part, together with accrued interest to the date of such prepayment on the principal
amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate
principal amount of $5,000,000 or an integral multiple of $100,000 in excess thereof in the case of
Revolving Credit Advances denominated in Dollars (or in an aggregate principal amount of $500,000
or an integral multiple of $10,000 in excess thereof in the case of Swing Line Advances) and the
Equivalent of $5,000,000 or an integral multiple of $100,000 in excess thereof in the case of
Revolving Credit Advances denominated in any Committed Currencies (determined on the date notice of
prepayment is given) and (y) in the event of any such prepayment of a Eurocurrency Rate Advance,
such Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section
9.04(c).

          (b) Mandatory Prepayments. (i) If the Agent notifies the Company on the second
Business Day prior to any interest payment date that the sum of (A) the aggregate principal amount
of all Advances denominated in Dollars then outstanding plus (B) the Equivalent in Dollars (both
(A) and (B) determined on the third Business Day prior to such interest payment date) of the
aggregate principal amount of all Advances denominated in Committed Currencies and Committed L/C
Currencies then outstanding exceeds 103% of the aggregate Revolving Credit Commitments of the
Lenders on such date, the Borrowers shall, within two Business Days after receipt of such notice,
prepay the outstanding principal amount of any Advances owing by the Borrowers in an aggregate
amount sufficient to reduce such sum after such payment to an amount not to exceed 100% of the
aggregate Revolving Credit Commitments of the Lenders. The Agent shall provide such notice to the
Company at the request of any Lender.

          (ii) Each prepayment made pursuant to this Section 2.10(b) shall be made together with any
interest accrued to the date of such prepayment on the principal amounts prepaid and, in the case
of any prepayment of a Eurocurrency Rate Advance on a date other than the last day of an Interest
Period or at its maturity, any additional amounts which the Borrowers shall be obligated to
reimburse to the Lenders in respect thereof pursuant to Section 9.04(c). The Agent shall give
prompt notice of any prepayment required under this Section 2.10(b) to the Company and the Lenders.

          (c) Letters of Credit. The Company shall, on the day that is 15 days prior to the
Termination Date, pay to the Agent for deposit in the L/C Cash Deposit Account an amount sufficient
to cause the aggregate amount on deposit in the L/C Cash Deposit Account to equal the sum of (a)
103% of the Dollar Equivalent of the
aggregate Available Amount of all Letters of Credit then outstanding denominated in any
Committed L/C Currency and (b) 100% of the aggregate Available Amount of all Letters of Credit then
outstanding denominated in Dollars. Upon the drawing of any such Letter of Credit, to the extent
funds are on deposit in the L/C Cash Deposit Account, such funds shall be applied to reimburse the
Issuing Banks to the extent permitted by applicable law, and if so applied, then such reimbursement
shall be deemed a repayment of the corresponding Advance in respect of such Letter of Credit.
After all such Letters of Credit shall have expired or been fully drawn upon and all other

3-year Credit Agreement

20

 

obligations of the Borrowers thereunder shall have been paid in full, the balance, if any, in such
L/C Cash Deposit Account shall be promptly returned to the Company.

          SECTION 2.11. Increased Costs. (a) If, due to either (i) the introduction of or any
change in or in the interpretation of any law or regulation after the date hereof or (ii) the
compliance with any guideline or request issued after the date hereof by any central bank or other
governmental authority including, without limitation, any agency of the European Union or similar
monetary or multinational authority (whether or not having the force of law), there shall be any
increase in the cost to any Lender of agreeing to make or making, funding or maintaining
Eurocurrency Rate Advances or agreeing to issue or of issuing or maintaining or participating in
Letters of Credit (excluding for purposes of this Section 2.11 any such increased costs resulting
from (i) Taxes or Other Taxes (as to which Section 2.14 shall govern) and (ii) changes in the basis
of taxation of overall net income or overall gross income by the United States or by the foreign
jurisdiction or state under the laws of which such Lender is organized or has its Applicable
Lending Office or any political subdivision thereof), then the Company shall from time to time,
upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for the
account of such Lender additional amounts sufficient to compensate such Lender for such increased
cost. A certificate as to the amount of such increased cost, submitted to the Company and the
Agent by such Lender, shall constitute prima facie evidence of such amounts.

          (b) If any Lender determines that due to the introduction of or any change in or in the
interpretation of any law or regulation or any guideline or request from any central bank or other
governmental authority (whether or not having the force of law) after the date hereof, taking into
consideration the policies of such Lender and any corporation controlling such Lender with respect
to capital adequacy, increases or would increase the amount of capital required or expected to be
maintained by such Lender or any corporation controlling such Lender and that the amount of such
increase is based upon the existence of such Lender’s commitment to lend or to issue or participate
in Letters of Credit hereunder and other commitments of this type and the effect of such increase
is to reduce the rate of return on such Lender’s capital or on the capital of the corporation
controlling such Lender, then, upon demand by such Lender (with a copy of such demand to the
Agent), the Company shall pay to the Agent for the account of such Lender, from time to time as
specified by such Lender, additional amounts sufficient to compensate such Lender or such
corporation in the light of such circumstances, to the extent that such Lender reasonably
determines such increase in capital to be allocable to the existence of such Lender’s commitment to
lend or to issue or participate in Letters of Credit hereunder. A certificate as to such amounts
submitted to the Company and the Agent by such Lender shall constitute prima facie evidence of such
amounts.

          (c) If any governmental authority of the jurisdiction of any Committed Currency or Committed
L/C Currency (or any other jurisdiction in which the funding operations of any Lender shall be
conducted with respect to such Committed Currency or Committed L/C Currency) shall introduce or
increase any reserve, liquid asset or similar requirement after the date hereof with respect to any
category of deposits or liabilities customarily used to fund loans in such Committed Currency or
Committed L/C Currency, or by reference to which interest rates applicable to loans in such
Committed Currency or Committed L/C Currency are determined, and the result of such requirement
shall be to increase the cost to such Lender of making or maintaining any Advance denominated in a
Committed Currency, and such Lender shall deliver to the relevant Borrowers a notice requesting
compensation under this paragraph, then the relevant Borrowers will pay to such Lender on each date
on which interest is paid pursuant to Section 2.07 with respect to each affected Advance
denominated in a Committed Currency, an amount that will compensate such Lender for such additional
cost. A certificate in reasonable detail as to the amount of such increased cost, submitted to the
Company and the Agent by such Lender shall constitute prima facie evidence of such amounts.

          SECTION 2.12. Illegality. Notwithstanding any other provision of this Agreement, if
any Lender shall notify the Agent that the introduction of or any change in or in the
interpretation of any law or regulation after the date hereof makes it unlawful, or any central
bank or other
governmental authority asserts after the date hereof that it is unlawful, for any Lender or
its Eurocurrency Lending Office to perform its obligations hereunder to make Eurocurrency Rate
Advances in Dollars or any Committed Currency or to fund or maintain Eurocurrency Rate Advances in
Dollars or any Committed Currency hereunder, (a) each Eurocurrency Rate Advance will automatically,
upon such demand, (i) if such Eurocurrency Rate Advance is denominated in Dollars, be Converted
into a Base Rate Advance and (ii) if such Eurocurrency Rate Advance is denominated in any Committed
Currency, be redenominated into an Equivalent amount of Dollars and be Converted into a Base Rate
Advance and (b) the

3-year Credit Agreement

21

 

obligation of the Lenders to make Eurocurrency Rate Advances or to Convert
Advances into Eurocurrency Rate Advances shall be suspended until the Agent shall notify the
Company and the Lenders that the circumstances causing such suspension no longer exist.

          SECTION 2.13. Payments and Computations. (a) Each Borrower shall make each payment
hereunder, except with respect to principal of, interest on, and other amounts relating to,
Advances denominated in a Committed Currency or Committed L/C Currency, not later than 12:00 noon
(New York City time) on the day when due in Dollars to the Agent at the applicable Agent’s Account
in same day funds and without deduction, set off or counterclaim. Each Borrower shall make each
payment hereunder with respect to principal of, interest on, and other amounts relating to,
Advances denominated in a Committed Currency, not later than 11:00 A.M. (at the Payment Office for
such Committed Currency) on the day when due in such Committed Currency to the Agent, by deposit of
such funds to the applicable Agent’s Account in same day funds. The Agent will promptly thereafter
cause to be distributed like funds relating to the payment of principal or interest, fees or
commissions ratably (other than amounts payable pursuant to Section 2.04(b)(ii), 2.11, 2.14 or
9.04(c)) to the Lenders for the account of their respective Applicable Lending Offices, and like
funds relating to the payment of any other amount payable to any Lender to such Lender for the
account of its Applicable Lending Office, in each case to be applied in accordance with the terms
of this Agreement. Upon its acceptance of an Assignment and Acceptance and recording of the
information contained therein in the Register pursuant to Section 9.07(c), from and after the
effective date specified in such Assignment and Acceptance, the Agent shall make all payments
hereunder and under any Notes in respect of the interest assigned thereby to the Lender assignee
thereunder, and the parties to such Assignment and Acceptance shall make all appropriate
adjustments in such payments for periods prior to such effective date directly between themselves.

          (b) All computations of interest based on the Base Rate shall be made by the Agent on the
basis of a year of 365 or 366 days, as the case may be, all computations of interest based on the
Eurocurrency Rate or the Federal Funds Rate and of fees and Letter of Credit commissions shall be
made by the Agent on the basis of a year of 360 days, in each case for the actual number of days
(including the first day but excluding the last day) occurring in the period for which such
interest, fees or commissions are payable. Each determination by the Agent of an interest rate
hereunder shall be conclusive and binding for all purposes, absent manifest error.

          (c) Whenever any payment hereunder or under any Notes shall be stated to be due on a day other
than a Business Day, such payment shall be made on the next succeeding Business Day, and such
extension of time shall in such case be included in the computation of payment of interest, fee or
commission, as the case may be; provided, however, that, if such extension would
cause payment of interest on or principal of Eurocurrency Rate Advances to be made in the next
following calendar month, such payment shall be made on the next preceding Business Day.

          (d) Unless the Agent shall have received notice from any Borrower prior to the date on which
any payment is due to the Lenders hereunder that such Borrower will not make such payment in full,
the Agent may assume that such Borrower has made such payment in full to the Agent on such date and
the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due
date an amount equal to the amount then due such Lender. If and to the extent such Borrower shall
not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith
on demand such amount distributed to such Lender together with interest thereon, for each day from
the date such amount is distributed to such Lender until the date such Lender repays such amount to
the Agent, at (i) the Federal Funds Rate in the case of Advances denominated in Dollars or (ii) the
cost of funds incurred by the Agent in respect of such amount in the case of Advances denominated
in Committed Currencies.

          SECTION 2.14. Taxes. (a) Any and all payments by each Borrower hereunder or under
any Notes shall be made, in accordance with Section 2.13, free and clear of and
without deduction for any and all present or future taxes, levies, imposts, deductions,
charges or withholdings, and all liabilities with respect thereto, excluding, in the case
of each Lender and the Agent, taxes imposed on its overall net income, and franchise taxes imposed
on it in lieu of net income taxes, by the jurisdiction under the laws of which such Lender or the
Agent (as the case may be) is organized or any political subdivision thereof and, in the case of
each Lender, taxes imposed on its overall net income, and franchise taxes imposed on it in lieu of
net income taxes, by the jurisdiction of such Lender’s Applicable Lending Office or any political
subdivision thereof (all such non-excluded taxes, levies,

3-year Credit Agreement

22

 

imposts, deductions, charges,
withholdings and liabilities in respect of payments hereunder or under any Notes being hereinafter
referred to as “Taxes”). If any Borrower shall be required by law to deduct any Taxes from
or in respect of any sum payable hereunder or under any Note to any Lender or the Agent, (i) the
sum payable shall be increased as may be necessary so that after making all required deductions
(including deductions applicable to additional sums payable under this Section 2.14) such Lender or
the Agent (as the case may be) receives an amount equal to the sum it would have received had no
such deductions been made, (ii) such Borrower shall make such deductions and (iii) such Borrower
shall pay the full amount deducted to the relevant taxation authority or other authority in
accordance with applicable law.

          (b) In addition, the Company shall pay any present or future stamp or documentary taxes or any
other excise or property taxes, charges or similar levies that arise from any payment made
hereunder or under any Notes or from the execution, delivery or registration of, performing under,
or otherwise with respect to, this Agreement or any Notes (hereinafter referred to as “Other
Taxes”).

          (c) Each Borrower shall indemnify each Lender and the Agent for and hold it harmless against
the full amount of Taxes or Other Taxes (including, without limitation, taxes of any kind imposed
by any jurisdiction on amounts payable under this Section 2.14) imposed on or paid by such Lender
or the Agent (as the case may be) and any liability (including penalties, interest and expenses)
arising therefrom or with respect thereto. This indemnification shall be made within 30 days from
the date such Lender or the Agent (as the case may be) makes written demand therefor.

          (d) Within 30 days after the date of any payment of Taxes, each Borrower shall furnish to the
Agent, at its address referred to in Section 9.02, the original or a certified copy of a receipt
evidencing such payment. In the case of any payment hereunder or under any Notes by or on behalf
of such Borrower through an account or branch outside the United States or by or on behalf of such
Borrower by a payor that is not a United States person, if such Borrower determines that no Taxes
are payable in respect thereof, such Borrower shall furnish, or shall cause such payor to furnish,
to the Agent, at such address, an opinion of counsel acceptable to the Agent stating that such
payment is exempt from Taxes. For purposes of this subsection (d) and subsection (e), the terms
“United States” and “United States person” shall have the meanings specified in
Section 7701 of the Internal Revenue Code.

          (e) Each Lender organized under the laws of a jurisdiction outside the United States, on or
prior to the date of its execution and delivery of this Agreement in the case of each Initial
Lender and on the date of the Assignment and Acceptance pursuant to which it becomes a Lender in
the case of each other Lender, and from time to time thereafter as requested in writing by the
Company (but only so long as such Lender remains lawfully able to do so), shall provide each of the
Agent and the Company with two original Internal Revenue Service forms W-8BEN or W-8ECI, as
appropriate, or any successor or other form prescribed by the Internal Revenue Service, certifying
that such Lender is exempt from or entitled to a reduced rate of United States withholding tax on
payments pursuant to this Agreement or any Notes. If the form provided by a Lender at the time
such Lender first becomes a party to this Agreement indicates a United States interest withholding
tax rate in excess of zero, withholding tax at such rate shall be considered excluded from Taxes
unless and until such Lender provides the appropriate forms certifying that a lesser rate applies,
whereupon withholding tax at such lesser rate only shall be considered excluded from Taxes for
periods governed by such form; provided, however, that, if at the date of the
Assignment and Acceptance pursuant to which a Lender assignee becomes a party to this Agreement,
the Lender assignor was entitled to payments under subsection (a) in respect of United States
withholding tax with respect to interest paid at such date, then, to such extent, the term Taxes
shall include (in addition to withholding taxes that may be imposed in the future or other amounts
otherwise includable in Taxes) United States withholding tax, if any, applicable with respect to
the Lender assignee on such date. If any form or document referred to in this subsection (e)
requires the disclosure of information, other than information necessary to compute the tax payable
and information required on the date hereof by Internal Revenue Service form W-8BEN or W-8ECI, that
the Lender
reasonably considers to be confidential, the Lender shall give notice thereof to the Borrowers
and shall not be obligated to include in such form or document such confidential information.

          (f) For any period with respect to which a Lender has failed to provide the Company with the
appropriate form described in Section 2.14(e) (other than if such failure is due to
a change in law occurring subsequent to the date on which a form originally was required to be
provided, or if such form otherwise is not

3-year Credit Agreement

23

 

required under subsection (e) above), such Lender shall
not be entitled to indemnification under Section 2.14(a) or (c) with respect to Taxes imposed by
the United States by reason of such failure; provided, however, that should a
Lender become subject to Taxes because of its failure to deliver a form required hereunder, the
Company shall take such steps at such Lender’s expense as the Lender shall reasonably request to
assist the Lender to recover such Taxes.

          (g) Any Lender claiming any additional amounts payable pursuant to this Section 2.14 agrees to
use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions)
to change the jurisdiction of its Eurocurrency Lending Office if the making of such a change would
avoid the need for, or reduce the amount of, any such additional amounts that may thereafter accrue
and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such
Lender.

          SECTION 2.15. Sharing of Payments, Etc. If any Lender shall obtain any payment
(whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on
account of the Revolving Credit Advances or Swing Line Advances owing to it (other than pursuant to
Section 2.11, 2.14 or 9.04(c)) in excess of its Ratable Share of payments on account of the
Revolving Credit Advances or Swing Line Advances obtained by all the Lenders, such Lender shall
forthwith purchase from the other Lenders such participations in the Revolving Credit Advances or
Swing Line Advances owing to them as shall be necessary to cause such purchasing Lender to share
the excess payment ratably with each of them; provided, however, that if all or any portion of such
excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender
shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the
extent of such recovery together with an amount equal to such Lender’s ratable share (according to
the proportion of (i) the amount of such Lender’s required repayment to (ii) the total amount so
recovered from the purchasing Lender) of any interest or other amount paid or payable by the
purchasing Lender in respect of the total amount so recovered. Each Borrower agrees that any
Lender so purchasing a participation from another Lender pursuant to this Section 2.15 may, to the
fullest extent permitted by law, exercise all its rights of payment (including the right of
set-off) with respect to such participation as fully as if such Lender were the direct creditor of
such Borrower in the amount of such participation.

          SECTION 2.16. Evidence of Debt. (a) 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 Advance owing to such Lender from time to time, including the amounts of
principal and interest payable and paid to such Lender from time to time hereunder in respect of
Advances. Each Borrower agrees that upon notice by any Lender to such Borrower (with a copy of
such notice to the Agent) to the effect that a Note is required or appropriate in order for such
Lender to evidence (whether for purposes of pledge, enforcement or otherwise) the Advances owing
to, or to be made by, such Lender, such Borrower shall promptly execute and deliver to such Lender
a Note payable to the order of such Lender in a principal amount up to the Revolving Credit
Commitment of such Lender.

          (b) The Register maintained by the Agent pursuant to Section 9.07(d) shall include a control
account, and a subsidiary account for each Lender, in which accounts (taken together) shall be
recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising
such Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the terms of each
Assignment and Acceptance delivered to and accepted by it, (iii) the amount of any principal or
interest due and payable or to become due and payable from each Borrower to each Lender hereunder
and (iv) the amount of any sum received by the Agent from such Borrower hereunder and each Lender’s
share thereof.

          (c) Entries made in good faith by the Agent in the Register pursuant to subsection (b) above,
and by each Lender in its account or accounts pursuant to subsection (a) above, shall be
prima facie evidence of the amount of principal and interest due and payable or to
become due and payable from each Borrower to, in the case
of the Register, each Lender and, in the case of such account or accounts, such Lender, under
this Agreement, absent manifest error; provided, however, that the failure of the
Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register
or such account or accounts shall not limit or otherwise affect the obligations of any Borrower
under this Agreement.

          SECTION 2.17. Use of Proceeds. The proceeds of the Advances shall be available (and
each Borrower agrees that it shall use such proceeds) solely for general corporate purposes of the
Company and its Consolidated Subsidiaries, including commercial paper backstop and acquisition
financing.

3-year Credit Agreement

24

 

          SECTION 2.18. Temporary Waiver of Remedies. The Lenders agree not to pursue any
remedies they may have in respect of the Existing Credit Agreement (including the giving of notice
under Section 6.01 thereof or the making of any demand under Section 6.02 thereof) until the end of
the second Business Day following the earlier of September 30 and the delivery of the financial
statements referred to in Section 3.01(e).

ARTICLE III

CONDITIONS TO EFFECTIVENESS AND LENDING

          SECTION 3.01. Conditions Precedent to Effectiveness of Amendment and Restatement.
This amendment and restatement of the Existing Credit Agreement (this “Amendment and
Restatement”) shall become effective, with respect to Section 2.18, on September 27, 2005 and,
with respect to all other provisions, on the first date (the “Restatement Date”) on which
the following conditions have been satisfied:

     (a) The Agent shall have received counterparts of this Amendment and Restatement
executed by the Company and the Required Lenders or, as to any of the Lenders, advice
satisfactory to the Agent that such Lender has executed this Amendment and Restatement.

     (b) The Company shall have paid all accrued fees and expenses of the Agent and the
Lenders (including the invoiced accrued fees and expenses of counsel to the Agent).

     (c) On the Restatement Date, the following statements shall be true and the Agent shall
have received for the account of each Lender a certificate signed by a duly authorized
officer of the Company, dated the Restatement Date, stating that:

     (i) The representations and warranties contained in Section 4.01 (other than
the last sentence of Section 4.01(e)) are correct on and as of the Restatement Date,

     (ii) Since the Consolidated balance sheet of the Company and its Consolidated
Subsidiaries as at December 31, 2004, and except as disclosed in the Company’s
reports filed with the SEC or as otherwise disclosed to the Lenders since such date
and on or prior to September 27, 2005, there has been no Material Adverse Change,
and

     (iii) No event has occurred and is continuing that constitutes a Default.

     (d) The Agent shall have received on or before the Restatement Date the following, each
dated the Restatement Date, in form and substance satisfactory to the Agent and in
sufficient copies for each Lender:

     (i) Any Notes required by each Lender executed by the Company and made payable
to the order of such Lender pursuant to Section 2.16.

     (ii) Certified copies of the resolutions of the Board of Directors or the
Finance Committee of the Board of Directors of the Company approving this Amendment
and Restatement, and of all documents evidencing other necessary corporate action
and governmental approvals, if any, with respect to this Amendment and Restatement.

     (iii) A certificate of the Secretary or an Assistant Secretary of the Company
certifying the names and true signatures of the officers of the Company authorized
to sign this Amendment and Restatement and the other documents to be delivered by it
hereunder.

     (iv) A favorable opinion of Nicholas J. Camera, General Counsel of the Company,
and of Cleary, Gottlieb, Steen & Hamilton, counsel for the Company, substantially in
the form of Exhibits D-2 and D-1 hereto, respectively.

3-year Credit Agreement

25

 

     (v) A favorable opinion of Shearman & Sterling LLP, counsel for the Agent, in
form and substance satisfactory to the Agent.

     (e) The Lenders shall have received copies on or before September 30, 2005 of the
Company’s reports filed with the Securities and Exchange Commission on Form 10-K for the
period ended December 31, 2004 and Form 10-Q for the periods ended March 31, 2005 and June
30, 2005 as filed with the Securities and Exchange Commission.

     (f) Neither the Agent nor the Company shall have received notice from the Required
Lenders within two Business Days after the delivery of the financial statements referred to
in clause (e) above to the Lenders that such financial statements and the financial data
contained in the footnotes thereto are not substantially similar to the preliminary
financial statements provided to the Lenders on September 27, 2005.

     (g) The Company shall have terminated the commitments, and paid in full all Debt,
interest, fees and other amounts outstanding, under the 364-Day Credit Agreement dated as of
May 10, 2004 as amended (the “Existing 364-Day Credit Agreement”), among the
Company, the lenders parties thereto and Citibank, as agent, and each of the Lenders that is
a party to the Existing 364-Day Credit Agreement hereby waives, upon execution of this
Agreement, the three Business Days’ notice required by Section 2.05 of the Existing 364-Day
Credit Agreement relating to the termination of commitments thereunder.

          SECTION 3.02. Initial Advance to Each Designated Subsidiary. The obligation of each
Lender to make an initial Advance to each Designated Subsidiary is subject to the receipt by the
Agent on or before the date of such initial Advance of each of the following, in form and substance
reasonably satisfactory to the Agent and dated such date, and (except for any Notes) in sufficient
copies for each Lender:

     (a) Any Notes required by each Lender executed by such Designated Subsidiary and made
payable to the order of such Lender pursuant to Section 2.16.

     (b) Certified copies of the resolutions of the Board of Directors of such Designated
Subsidiary (with a certified English translation if the original thereof is not in English)
approving this Agreement and any Notes to be delivered by it, and of all documents
evidencing other necessary corporate action and governmental approvals, if any, with respect
to this Agreement.

     (c) A certificate of a proper officer of such Designated Subsidiary certifying the
names and true signatures of the officers of such Designated Subsidiary authorized to sign
its Designation Agreement and any Notes to be delivered by it and the other documents to be
delivered by it hereunder.

     (d) A certificate signed by a duly authorized officer of the Company, certifying that
such Designated Subsidiary has obtained all governmental and third party authorizations,
consents, approvals
(including exchange control approvals) and licenses required under applicable laws and
regulations necessary for such Designated Subsidiary to execute and deliver its Designation
Agreement and any Notes to be delivered by it and to perform its obligations hereunder and
thereunder.

     (e) A Designation Agreement duly executed by such Designated Subsidiary and the
Company.

     (f) Favorable opinions of counsel (which may be in-house counsel) to such Designated
Subsidiary substantially in the forms of Exhibits D-1 and D-2 hereto, respectively, and as
to such other matters as any Lender through the Agent may request.

     (g) Such other approvals, opinions or documents as any Lender, through the Agent may
reasonably request.

3-year Credit Agreement

26

 

          SECTION 3.03. Conditions Precedent to Each Borrowing and Issuance. The obligation of
each Lender to make an Advance (other than a Swing Line Advance made by a Lender pursuant to
Section 2.02(b) and an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c))
on the occasion of each Borrowing, other than Borrowings made pursuant to Section 2.03(c), and the
obligations of each Issuing Bank to issue a Letter of Credit shall be subject to the conditions
precedent that the Effective Date shall have occurred and on the date of such Borrowing or such
issuance (as the case may be) the following statements shall be true (and each of the giving of the
applicable Notice of Revolving Credit Borrowing, Notice of Swing Line Borrowing, Notice of Issuance
and the acceptance by any Borrower of the proceeds of such Borrowing shall constitute a
representation and warranty by such Borrower that on the date of such Borrowing or the date of such
issuance, as the case may be, such statements are true):

     (a) the representations and warranties contained in Section 4.01 and, in the case of
any Borrowing made to a Designated Subsidiary, in the Designation Agreement for such
Designated Subsidiary, are correct on and as of such date, before and after giving effect to
such Borrowing or such issuance (as the case may be) and to the application by the
applicable Borrower of the proceeds therefrom, as though made on and as of such date, and

     (b) no event has occurred and is continuing, or would result from such Borrowing or
such issuance (as the case may be) or from the application by the applicable Borrower of the
proceeds therefrom, that constitutes a Default.

          SECTION 3.04. Determinations Under Sections 3.01 and 3.02. For purposes of
determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender shall
be deemed to have consented to, approved or accepted or to be satisfied with each document or other
matter required thereunder to be consented to or approved by or acceptable or satisfactory to the
Lenders unless an officer of the Agent responsible for the transactions contemplated by this
Agreement shall have received notice from such Lender prior to the date that the Company, by notice
to the Agent, designates as the proposed Effective Date or the date of the initial Advance to the
applicable Designated Subsidiary, as the case may be, specifying its objection thereto. The Agent
shall promptly notify the Lenders of the occurrence of the Effective Date and each date of initial
Advance to a Designated Subsidiary, as applicable.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

          SECTION 4.01. Representations and Warranties of the Company. The Company represents
and warrants as of the Restatement Date, and thereafter as of each date an Advance (other than a
Swing Line Advance made by a Lender pursuant to Section 2.02(b) or an Advance made by an Issuing
Bank or any Lender pursuant to Section 2.03(c)) is made or a Letter of Credit is issued, as
follows:

     (a) The Company is a corporation duly organized, incorporated, validly existing and in
good standing under the laws of the State of Delaware, and has all corporate powers and all
material governmental licenses, authorizations, consents and approvals required to carry on
its business.

     (b) The execution, delivery and performance by the Company of this Agreement and the
Notes to be delivered by it, if any, and the consummation of the transactions contemplated
hereby, are within the Company’s corporate powers, have been duly authorized by all
necessary corporate action, and do not contravene, or constitute a default under, any
provision of applicable law or regulation or of the certificate of incorporation of the
Company or of any judgment, injunction, order, decree, material agreement or other
instrument binding upon the Company or result in the creation or imposition of any Lien on
any asset of the Company or any of its Consolidated Subsidiaries.

3-year Credit Agreement

27

 

     (c) No authorization or approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body or any other third party is required for the
due execution, delivery and performance by the Company of this Agreement or the Notes to be
delivered by it, if any.

     (d) This Agreement has been, and each of the Notes to be delivered by it, if any, when
delivered hereunder will have been, duly executed and delivered by the Company. This
Agreement is, and each of the Notes to be delivered by it when delivered hereunder will be,
the legal, valid and binding obligation of the Company enforceable against the Company in
accordance with their respective terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other laws affecting the rights of creditors generally and
subject to general principles of equity.

     (e) The Consolidated balance sheet of the Company and its Consolidated Subsidiaries as
at December 31, 2004, and the related Consolidated statement of operations and cash flows of
the Company and its Consolidated Subsidiaries for the fiscal year then ended, accompanied by
an opinion of PricewaterhouseCoopers LLP, independent public accountants, and the
Consolidated balance sheet of the Company and its Consolidated Subsidiaries as at June 30,
2005, and the related Consolidated statements of operations and cash flows of the Company
and its Consolidated Subsidiaries for the six months then ended, duly certified by the chief
financial officer of the Company, copies of which have been furnished to each Lender, fairly
present in all material respects, subject, in the case of said balance sheet as at June 30,
2005, and said statements of operations and cash flows for the six months then ended, to
year-end audit adjustments, the Consolidated financial condition of the Company and its
Consolidated Subsidiaries as at such dates and the Consolidated results of the operations
and cash flows of the Company and its Consolidated Subsidiaries for the periods ended on
such dates, all in accordance with generally accepted accounting principles consistently
applied. Since the Consolidated balance sheet of the Company and its Consolidated
Subsidiaries as at December 31, 2004, and except as disclosed in the Company’s reports filed
with the SEC since such date and prior to the Restatement Date, there has been no Material
Adverse Change.

     (f) There is no action, suit, investigation, litigation or proceeding pending against,
or to the knowledge of the Company, threatened against the Company or any of its
Consolidated Subsidiaries before any court or arbitrator or any governmental body, agency or
official in which there is a significant probability of an adverse decision that (i) would
have a Material Adverse Effect or (ii) purports to affect the legality, validity or
enforceability of this Agreement or any Note or the consummation of the transactions
contemplated hereby.

     (g) Each of the Company and its ERISA Affiliates has fulfilled its obligations under
the minimum funding standards of ERISA and the Internal Revenue Code with respect to each
Plan and is in compliance in all material respects with the presently applicable provisions
of ERISA and the Internal Revenue Code except when the failure to comply would not have a
Material Adverse Effect. None of the Company or any of its ERISA Affiliates has incurred
any unsatisfied material liability to the PBGC or a Plan under Title IV of ERISA other than
a liability to the PBGC for premiums under Section 4007 of ERISA.

     (h) The Company is not engaged in the business of extending credit for the purpose of
purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board
of Governors of the Federal Reserve System). Following the application of the proceeds of
each Advance, not more than 25% of the value of the property and assets of the Company and
its Consolidated Subsidiaries taken as a whole, subject to the provisions of Section 5.02(a)
or subject to any restriction contained in any agreement or instrument between the Company
and any Lender or any Affiliate of any Lender relating to Debt within the scope of Section
6.01(d) will be “margin stock” (within the meaning of Regulation U of the Board of Governors
of the Federal Reserve System).

     (i) The Company is not (i) an “investment company”, or a company “controlled” by an
“investment company”, within the meaning of the Investment Company Act of 1940, as amended,
or (ii) a

3-year Credit Agreement

28

 

“holding company”, or a “subsidiary company” of a “holding company”, within the
meaning of the Public Utility Holding Company Act of 1935, as amended.

     (j) The Company and its Consolidated Subsidiaries have filed all United States Federal
income tax returns and all other material tax returns which are required to be filed by them
and have paid all taxes due reported on such returns or pursuant to any assessment received
by the Company or any Consolidated Subsidiary, to the extent that such assessment has become
due. The charges, accruals and reserves on the books of the Company and its Consolidated
Subsidiaries in respect of taxes or other governmental charges are, in the opinion of the
Company, adequate except for those which are being contested in good faith by the Company.

     (k) Each of the Company’s Consolidated Subsidiaries is duly organized, validly existing
and in good standing under the laws of its jurisdiction of organization, and has all powers
and all material governmental licenses, authorizations, consents and approvals required to
carry on its business, all to the extent material to the Company and its Consolidated
Subsidiaries taken as a whole.

ARTICLE V

COVENANTS OF THE COMPANY

          SECTION 5.01. Affirmative Covenants. So long as any Advance shall remain unpaid or
any Lender shall have any Commitment hereunder, the Company will:

     (a) Compliance with Laws, Etc. Comply, and cause each of its Consolidated
Subsidiaries to comply, with all applicable laws, rules, regulations and orders, such
compliance to include, without limitation, compliance with ERISA and applicable
environmental laws, except where the necessity of compliance is being contested in good
faith or where failure to comply would not have a Material Adverse Effect, provided,
however, that, in respect of its annual report on Form 10-K for the fiscal year
ended December 31, 2004 and its quarterly reports on Form 10-Q for the first three fiscal
quarters of 2005, (1) the Company’s failure to file the reports and attestations required by
Item 308 of Regulation S-K and the certifications required by Rules 13a-14(a) and (b) of the
Exchange Act, as applicable, (2) the Company’s filing of an attestation report under Item
308(b) that is qualified or disclaimed and (3) the Company’s filing of a certification under
Rule 13a-14(b) of the Exchange Act that does not conform to the requirements of such rule as
a result of deficiencies relating to internal control over financial reporting will not be a
violation of this Section 5.01(a).

     (b) Payment of Taxes, Etc. Pay and discharge, and cause each of its
Consolidated Subsidiaries to pay and discharge, before the same shall become delinquent, (i)
all taxes, assessments and governmental charges or levies imposed upon it or upon its
property and (ii) all lawful claims that, if unpaid, might solely by operation of law become
a Lien upon its property; provided, however, that neither the Company nor
any of its Consolidated Subsidiaries shall be required to pay or discharge any such tax,
assessment, levy, charge or claim that is being contested in good faith and by proper
proceedings and as to which appropriate reserves in accordance with generally accepted
accounting principles are being
maintained, unless and until any Lien resulting therefrom attaches to its property and
becomes enforceable against its other creditors.

     (c) Maintenance of Insurance. Maintain, and cause each of its Consolidated
Subsidiaries to maintain, all to the extent material to the Company and its Consolidated
Subsidiaries taken as a whole, with responsible and reputable insurance companies or
associations, physical damage insurance on all real and personal property on an all risks
basis, covering the repair and replacement cost of all such property and consequential loss
coverage for business interruption and extra expense, public liability insurance in an
amount not less than $25,000,000 and such other insurance covering such other risks as is
customarily carried by companies of established reputations engaged in similar businesses
and owning similar properties in the same general areas in which the Company or such
Consolidated Subsidiary operates;

3-year Credit Agreement

29

 

provided, however, that the Company and
its Consolidated Subsidiaries may self-insure to the same extent as other companies engaged
in similar businesses and owning similar properties in the same general areas in which the
Company or such Consolidated Subsidiary operates and to the extent consistent with prudent
business practice.

     (d) Preservation of Existence, Etc. Preserve and maintain, and cause each of
its Consolidated Subsidiaries to preserve and maintain, its existence, rights (constituent
document and statutory) and franchises necessary in the normal conduct of its business, all
to the extent material to the Company and its Consolidated Subsidiaries taken as a whole;
provided, however, that the Company and its Consolidated Subsidiaries may
consummate any merger or consolidation permitted under Section 5.02(b) and provided
further that neither the Company nor any of its Consolidated Subsidiaries shall be
required to preserve any right or franchise if the Board of Directors of the Company or such
Consolidated Subsidiary shall determine that the preservation thereof is no longer desirable
in the normal conduct of the business of the Company or such Consolidated Subsidiary, as the
case may be, and that the loss thereof is not material to the Company and its Consolidated
Subsidiaries taken as a whole.

     (e) Visitation Rights. At any reasonable time and from time to time, permit
the Agent or any of the Lenders or any agents or representatives thereof at their own
expense, to examine and make copies of and abstracts from the records and books of account
of, and visit the properties of, the Company and any of its Consolidated Subsidiaries, and
to discuss the affairs, finances and accounts of the Company and any of its Consolidated
Subsidiaries with any of their officers and with their independent certified public
accountants, all as often as may reasonably be necessary to ensure compliance by the Company
with its obligations hereunder.

     (f) Keeping of Books. Keep, and cause each of its Consolidated Subsidiaries to
keep, proper books of record and account, in which full and correct entries shall be made of
all financial transactions and the assets and business of the Company and each such
Consolidated Subsidiary in accordance with sound business practices and applicable statutory
requirements so as to permit the preparation of the Consolidated financial statements of the
Company and its Consolidated Subsidiaries in accordance with generally accepted accounting
principles in effect from time to time.

     (g) Maintenance of Properties, Etc. Maintain and preserve, and cause each of
its Consolidated Subsidiaries to maintain and preserve, all of its properties that are used
and useful in the conduct of its business in good working order and condition, ordinary wear
and tear excepted, except where the failure to do so would not have a Material Adverse
Effect.

     (h) Reporting Requirements. Furnish to the Lenders or notify the Lenders of
the availability of:

     (i) as soon as available and in any event within 50 days after the end of each
of the first three quarters of each fiscal year of the Company, the unaudited
Consolidated balance sheet of the Company and its Consolidated Subsidiaries as of
the end of such quarter and unaudited Consolidated statement of operations and cash
flows of the Company and its Consolidated
Subsidiaries for the period commencing at the end of the previous fiscal year
and ending with the end of such quarter, duly certified (except for the absence of
footnotes and subject to year-end audit adjustments) by the chief financial officer
of the Company as having been prepared in accordance with generally accepted
accounting principles and a certificate of the chief financial officer, chief
accounting officer or treasurer of the Company, which certificate shall include a
statement that such officer has no knowledge, except as specifically stated, of any
condition, event or act which constitutes a Default and setting forth in reasonable
detail the calculations necessary to demonstrate compliance with Section 5.03 on the
date of such balance sheet, provided that in the event that generally
accepted accounting principles used in the preparation of such financial statements
shall differ from GAAP, the Company shall also provide, if necessary for the

3-year Credit Agreement

30

 

determination of compliance with Section 5.03, a statement of reconciliation
conforming such financial statements to GAAP;

     (ii) as soon as available and in any event within 95 days after the end of each
fiscal year of the Company, a copy of the audited financial statements for such year
for the Company and its Consolidated Subsidiaries, containing the Consolidated
balance sheet of the Company and its Consolidated Subsidiaries as of the end of such
fiscal year and Consolidated statement of operations and cash flows of the Company
and its Consolidated Subsidiaries for such fiscal year, in each case accompanied by
the report thereon of PricewaterhouseCoopers LLP or other independent public
accountants of nationally recognized standing, together with a certificate of the
chief financial officer, chief accounting officer or treasurer of the Company, which
certificate shall include a statement that such officer has no knowledge, except as
specifically stated, of any condition, event or act which constitutes a Default and
setting forth in reasonable detail the calculations necessary to demonstrate
compliance with Section 5.03 on the date of such financial statements,
provided that in the event that generally accepted accounting principles
used in the preparation of such financial statements shall differ from GAAP, the
Company shall also provide, if necessary for the determination of compliance with
Section 5.03, a statement of reconciliation conforming such financial statements to
GAAP;

     (iii) as soon as possible and in any event within ten days after the chief
executive officer, chief operation officer, principal financial officer or principal
accounting officer of the Company knows or has reason to know of the occurrence of
each Default continuing on the date of such statement, a statement of such officer
of the Company setting forth details of such Default and the action that the Company
has taken and proposes to take with respect thereto;

     (iv) promptly after the sending or filing thereof, copies of all quarterly and
annual reports and proxy solicitations that the Company sends to any of its
securityholders, and copies of all reports on Form 8-K and registration statements
for the public offering of securities (other than pursuant to employee Plans) that
the Company or any Consolidated Subsidiary files with the Securities and Exchange
Commission;

     (v) promptly after the commencement thereof, notice of all actions and
proceedings before any court, governmental agency or arbitrator affecting the
Company or any of its Consolidated Subsidiaries of the type described in Section
4.01(f); and

     (vi) such other information respecting the financial condition or business of
the Company or any of its Consolidated Subsidiaries as any Lender through the Agent
may from time to time reasonably request.

The financial statements required to be delivered pursuant to clauses (i) and (ii) and the
reports and other materials required to be delivered pursuant to clause (iv) of this Section
5.01(h) shall be deemed to have been delivered on the date on which the Company notifies the
Agent, in the case of clauses (i) and (ii), that the reports on Form 10-K and Form 10-Q,
respectively, containing such financial statements and, in the case of clause (iv), that
such reports and other materials have been posted on the SEC’s website at
www.sec.gov; provided that, notwithstanding the method of electronic delivery set forth in
Section 9.02(b), the Company shall deliver paper copies of the reports (without the exhibits
thereto) referred to in clauses (i), (ii) and (iv) of this Section 5.01(h) to the Agent or
any Lender who requests the Company to deliver such paper copies until written notice to
cease delivering paper copies is given by the Agent or such Lender; and provided further
that in every instance the Company shall provide paper copies of the certificates required
to be delivered in accordance with this Section 5.01(h) until such time as the Agent shall
provide the Company notice otherwise.

     SECTION 5.02. Negative Covenants. So long as any Advance shall remain unpaid or any
Lender shall have any Commitment hereunder, the Company will not:

3-year Credit Agreement

31

 

     (a) Liens, Etc. Create or suffer to exist, or permit any of its Consolidated
Subsidiaries to create or suffer to exist, any Lien on or with respect to any of its assets,
whether now owned or hereafter acquired, other than:

     (i) Liens existing on the Restatement Date;

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

     (iii) any Lien on any asset securing Debt incurred or assumed for the purpose
of financing all or any part of the cost of acquiring such asset, provided
that such Lien attaches to such asset concurrently with or within 90 days after the
acquisition thereof;

     (iv) any Lien on any asset of any corporation existing at the time such
corporation is merged into or consolidated with the Company or a Consolidated
Subsidiary and not created in contemplation of such event;

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

     (vi) any Lien created in connection with capitalized lease obligations, but
only to the extent that such Lien encumbers property financed by such capital lease
obligation and the principal component of such capitalized lease obligation is not
increased;

     (vii) Liens arising in the ordinary course of its business which (A) do not
secure Debt and (B) do not in the aggregate materially impair the operation of the
business of the Company and its Consolidated Subsidiaries, taken as a whole;

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

     (ix) Liens securing taxes, assessments, fees or other governmental charges or
levies, Liens securing the claims of materialmen, mechanics, carriers, landlords,
warehousemen and similar Persons, Liens incurred in the ordinary course of business
in connection with workmen’s compensation, unemployment insurance and other similar
laws, Liens to secure surety, appeal and performance bonds and other similar
obligations not incurred in connection with the borrowing of money, and attachment,
judgment and other similar Liens arising in connection with court proceedings so
long as the enforcement of such Liens is effectively stayed and the claims secured
thereby are being contested in good faith by appropriate proceedings;

     (x) any Liens on property arising in connection with a securities repurchase
transaction;

     (xi) any contractual right of set-off or any contractual right to charge or
contractual security interest in or Lien on the accounts of the Company or any of
its Consolidated Subsidiaries to effect the payment of amounts to such depositary
institution whether or not due and payable in respect of any Debt or financing
arrangement and any other Lien arising solely by virtue of any statutory or common
law provision relating to banker’s liens, rights of set-off or similar rights;

     (xii) any Liens on assets of Subsidiaries organized outside of the United
States in favor of lenders under short-term working capital lines of credit entered
into in the ordinary course of business;

3-year Credit Agreement

32

 

     (xiii) Liens arising in the ordinary course of banking transactions and
securing Debt in an aggregate amount of not more than $15,000,000 that matures not
more than one year after the date on which it is originally incurred;

     (xiv) any Lien arising out of the L/C Cash Deposit Account; and

     (xv) Liens not otherwise permitted by the foregoing clauses of this Section
securing Debt in an aggregate principal amount at any time outstanding not to exceed
$10,000,000.

     (b) Mergers, Etc. (i) Merge or consolidate with or into any Person (other than
a Consolidated Subsidiary of the Company) except that the Company may agree to merge or
consolidate any Consolidated Subsidiary with any Person in connection with an acquisition of
such Person or (ii) sell, lease or otherwise transfer (whether in one transaction or a
series of transactions) all or substantially all of the Company’s business or assets
(whether now owned or hereafter acquired) to any Person (other than a Consolidated
Subsidiary of the Company), or permit any Consolidated Subsidiary to merge or consolidate
with or into or transfer (whether in one transaction or a series of transactions) all or any
substantial part of its assets (whether now owned or hereafter acquired) to any Person
except (x) the Company or another Consolidated Subsidiary of the Company or to any other
Person if the Board of Directors of the Company (or the finance committee or an officer of
the Company duly authorized for such purpose) determines in good faith that the Consolidated
Subsidiary or the assets of such Consolidated Subsidiary, as the case may be, are not
material to the Company and its Consolidated Subsidiaries taken as a whole, and (y) any
Consolidated Subsidiary may merge with or consolidate into any Person in connection with an
acquisition of such Person, provided, in each case, that no Default shall have
occurred and be continuing at the time of such proposed transaction or would result
therefrom.

     (c) Accounting Changes. Make or permit, or permit any of its Consolidated
Subsidiaries to make or permit, any change in accounting policies or reporting practices,
except as required or permitted by generally accepted accounting principles or applicable
statutory requirements.

     (d) Change in Nature of Business. Engage, or permit any Consolidated
Subsidiary to engage, predominantly in any business other than business of the same general
type as conducted on the date hereof by the Company and its Consolidated Subsidiaries.

     (e) Acquisitions. Except as set forth on Schedule 5.02(e) and except for
required payments, or optional payments made in lieu of required payments when in the best
interest of the Company (as determined in good faith by the appropriate officers of the
Company), pursuant to agreements relating to such purchases and acquisitions entered into
prior to March 1, 2005, purchase or otherwise acquire all or substantially all of the
assets, or a business unit or division, of any Person except to the extent that (i) the
consideration of such purchase or acquisition consists solely of capital stock of the
Company or (ii) the cash consideration of all such purchases and acquisitions shall not
exceed (x) $50,000,000 in the aggregate for the period from the Restatement Date to the
first anniversary of the Restatement Date and (y) $50,000,000 in the aggregate for the
period from the first anniversary of the Restatement Date to the Termination Date;
provided that the cash amount permitted in clause (ii) above shall be increased by
the amount of Net Cash Proceeds received from any disposition of assets or any business or
entity during the applicable period.

     (f) Restricted Payments. Declare or pay any dividends, purchase, redeem,
retire, defease or otherwise acquire for value any shares of its common stock now or
hereafter outstanding, return any capital to its stockholders as such, or make any
distribution of assets, equity interests, obligations or securities to its stockholders as
such (any of the foregoing, a “Restricted Payment”), except that, so long as no
Default shall have occurred and be continuing at the time of any action described in clause
(i), (ii), (iii) or (iv) below or would result therefrom, the Company may (i) declare and
pay dividends and distributions payable either only in common stock of the Company or in a
combination of common stock of the Company and cash to the extent permitted by clause (iv)
below, (ii) purchase, redeem, retire, defease or otherwise acquire

3-year Credit Agreement

33

 

shares of its capital
stock (A) with the proceeds received contemporaneously from the issue of new shares of its
capital stock with equal or inferior voting powers, designations, preferences and rights or
(B) in connection with the exercise of options by the employees of the Company or its
Subsidiaries, (iii) issue preferred stock (or the right to purchase preferred stock) of the
Company in connection with a stockholders’ rights plan or (iv) declare and pay cash
dividends with respect to any convertible preferred stock, convertible trust preferred
instruments or similar securities of the Company outstanding on or after the Restatement
Date.

     (g) Capital Expenditures. Make, or permit any of its Consolidated Subsidiaries
to make, any Capital Expenditures that would cause the aggregate of all such Capital
Expenditures made by the Company and its Consolidated Subsidiaries to exceed $210,000,000 in
any calendar year. For purposes of this subsection, “Capital Expenditures” means,
for any period, the sum of, without duplication, (x) all expenditures made, directly or
indirectly, during such period for equipment, fixed assets, real property or improvements,
or for replacements or substitutions therefor or additions thereto, that have been or should
be, in accordance with GAAP, reflected as additions to property, plant or equipment on a
Consolidated balance sheet of a Person or have a useful life of more than one year plus (y)
the aggregate principal amount of all Debt (including obligations under capitalized leases)
assumed or incurred in connection with any such expenditures.

     (h) Subsidiary Debt. Permit any of its Consolidated Subsidiaries to create or
suffer to exist, any Debt other than (without duplication):

     (i) Debt owed to the Company or to a Consolidated Subsidiary of the Company,

     (ii) Debt existing on the Effective Date and described on Schedule 5.02(h)
hereto (the “Existing Debt”), and any Debt extending the maturity of, or
refunding or refinancing, in whole or in part, the Existing Debt, provided
that the principal amount of such Existing Debt shall not be increased above the
principal amount thereof outstanding immediately prior to such extension, refunding
or refinancing, and the direct and contingent obligors therefor shall not be
changed, as a result of or in connection with such extension, refunding or
refinancing,

     (iii) Debt secured by Liens permitted by Section 5.02(a),

     (iv) unsecured Debt incurred in the ordinary course of business of the
Company’s Consolidated Subsidiaries organized outside the United States,

     (v) book overdraft amounts outstanding at any time, and

     (vi) unsecured Debt incurred in the ordinary course of business of the
Company’s Consolidated Subsidiaries organized in the United States in an aggregate
amount at any time outstanding of not more than $10,000,000.

          SECTION 5.03. Financial Covenants. So long as any Advance shall remain unpaid or any
Lender shall have any Commitment hereunder, the Company will:

     (a) Interest Coverage Ratio. Maintain, as of the end of the fiscal quarter
ended September 30, 2005 and as of the end of each fiscal quarter thereafter, a ratio of (i)
Consolidated EBITDA of the Company and its Consolidated Subsidiaries for the period of four
fiscal quarters then ended to (ii) Interest Expense during such period by the Company and
its Consolidated Subsidiaries, of not less than the ratio set forth opposite such fiscal
quarter below:

3-year Credit Agreement

34

 

	 	 	 
	Fiscal Quarter Ending	 	Ratio
	September 30, 2005

	 	2.15 to 1
	December 31, 2005

	 	1.75 to 1
	March 31, 2006

	 	1.85 to 1
	June 30, 2006

	 	1.45 to 1
	September 30, 2006

	 	1.75 to 1
	December 31, 2006

	 	2.15 to 1
	March 31, 2007

	 	2.50 to 1

     (b) Debt to EBITDA Ratio. Maintain, as of the end of the fiscal quarter ended
September 30, 2005 and as of the end of each fiscal quarter thereafter, a ratio of (i) Debt
for Borrowed Money as of the end of such fiscal quarter to (ii) Consolidated EBITDA of the
Company and its Consolidated Subsidiaries for the period of four fiscal quarters then ended,
of not greater than the ratio set forth opposite such fiscal quarter below,
provided, that for the purposes of this Section 5.03(b), the term “Debt” shall not
include the indebtedness of the Company that, by its express terms, is subordinated in
rights of payment to the obligations of the Company under this Agreement on terms no less
favorable to the Lenders than the terms set forth on Schedule 5.03(b) or on such other terms
as are satisfactory to the Required Lenders:

	 	 	 
	Fiscal Quarter Ending	 	Ratio
	September 30, 2005

	 	5.20 to 1
	December 31, 2005

	 	6.30 to 1
	March 31, 2006

	 	5.65 to 1
	June 30, 2006

	 	6.65 to 1
	September 30, 2006

	 	5.15 to 1
	December 31, 2006

	 	4.15 to 1
	March 31, 2007

	 	3.90 to 1

     (c) Minimum EBITDA. Maintain Consolidated EBITDA of the Company and its
Consolidated Subsidiaries for the period of four fiscal quarters ended September 30, 2005
and for each period of four fiscal quarters ended thereafter, commencing with the fiscal
quarter ended September 30, 2005, of not less than the amount set forth opposite the date
that ends such period below:

	 	 	 	 	 
	Four Fiscal Quarters Ending	 	Amount
	September 30, 2005

	 	$	435,000,000	 
	December 31, 2005

	 	$	360,000,000	 
	March 31, 2006

	 	$	400,000,000	 
	June 30, 2006

	 	$	340,000,000	 
	September 30, 2006

	 	$	440,000,000	 
	December 31, 2006

	 	$	545,000,000	 
	March 31, 2007

	 	$	585,000,000	 

3-Year Credit Agreement

35

 

ARTICLE VI

EVENTS OF DEFAULT

          SECTION 6.01. Events of Default. If any of the following events (“Events of
Default”) shall occur and be continuing:

     (a) The Company or any other Borrower shall fail to pay any principal of any Advance
when the same becomes due and payable; or the Company or any other Borrower shall fail to
pay any interest on any Advance or make any other payment of fees or other amounts payable
under this Agreement or any Note within five Business Days after the same becomes due and
payable; or

     (b) Any representation or warranty made by the Company or any Designated Subsidiary (or
any of its officers) in any certificate, financial statement or other document delivered
pursuant to this Agreement shall prove to have been incorrect in any material respect when
made; or

     (c) (i) The Company shall fail to perform or observe any term, covenant or agreement
contained in Section 5.01(e) or (h), 5.02 (other than subsection (c) thereof) or 5.03; (ii)
the Company or any other Borrower shall fail to perform or observe any term, covenant or
agreement contained in Section 5.01(d) if such failure shall remain unremedied for 10 days
after written notice thereof shall have been given to the Company by the Agent or any
Lender; or (iii) the Company or any other Borrower shall fail to perform or observe any
other term, covenant or agreement contained in this Agreement or any other Loan Document on
its part to be performed or observed if such failure shall remain unremedied for 30 days
after written notice thereof shall have been given to the Company by the Agent or any
Lender; or

     (d) The Company or any of its Consolidated Subsidiaries shall fail to pay any principal
of or premium or interest on any Debt (but excluding Debt outstanding hereunder and Debt
owed solely to the Company or to a Consolidated Subsidiary) of the Company or such
Consolidated Subsidiary (as the case may be), when the same becomes due and payable (whether
by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such
failure shall continue after the applicable grace period, if any, specified in the agreement
or instrument creating or evidencing such Debt; or the Company or any of its Consolidated
Subsidiaries shall fail to perform or observe any covenant or agreement to be performed or
observed by it in any agreement or instrument creating or evidencing any such Debt and such
failure shall continue after the applicable grace period, if any, specified in such
agreement or instrument, if the effect of such failure is to accelerate, or to permit the
acceleration of, the maturity of such Debt; or any other event shall occur or condition
shall exist under any agreement or instrument creating or evidencing any such Debt and shall
continue after the applicable grace period, if any, specified in such agreement or
instrument (and remain uncured three Business Days after the chief financial officer, chief
operation officer, principal financial officer or principal accounting officer of the
Company becomes aware or should have become aware of such event or condition), if the effect
of such event or condition is to accelerate, or to permit the
acceleration of, the maturity of such Debt; or any such Debt shall be declared to be
due and payable, or required to be prepaid or redeemed (other than by a regularly scheduled
required prepayment or redemption), purchased or defeased, or an offer to prepay, redeem,
purchase or defease such Debt shall be required to be made, in each case prior to the stated
maturity thereof; provided that the aggregate principal amount (or, in the case of
any payment default, failure or other event in respect of a Hedge Agreement, the net amount
due and payable under such Hedge Agreement as of the date of such payment default, failure
or event) of all Debt as to which any such payment defaults (whether or not at stated
maturity thereof), failures or other events shall have occurred and be continuing exceeds
$10,000,000; provided further that if any of the failures, actions,
conditions or events set forth above in this subsection (d) shall be taken in

3-Year Credit Agreement

36

 

respect of, or
occur with respect to, a Consolidated Subsidiary, such failure, action, condition or event
shall not be the basis for or give rise to an Event of Default under this subsection (d)
unless such failure, action, condition or event is not cured or such amount has not been
repaid within five Business Days after the chief executive officer, chief operation officer,
principal financial officer or principal accounting officer of the Company knows or has
reason to know of the occurrence of such action or event; or

     (e) The Company or any of its Consolidated Subsidiaries shall generally not pay its
debts as such debts become due, or shall admit in writing its inability to pay its debts
generally, or shall make a general assignment for the benefit of creditors; or any
proceeding shall be instituted by or against the Company or any of its Consolidated
Subsidiaries seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation,
winding up, reorganization, arrangement, adjustment, protection, relief, or composition of
it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief
of debtors, or seeking the entry of an order for relief or the appointment of a receiver,
trustee, custodian or other similar official for it or for any substantial part of its
property and, in the case of any such proceeding instituted against it (but not instituted
by it), either such proceeding shall remain undismissed or unstayed for a period of 60 days,
or any of the actions sought in such proceeding (including, without limitation, the entry of
an order for relief against, or the appointment of a receiver, trustee, custodian or other
similar official for, it or for any substantial part of its property) shall occur; or the
Company or any of its Consolidated Subsidiaries shall take any corporate action to authorize
any of the actions set forth above in this subsection (e); provided, that if any of
the actions or events set forth above in this subsection (e) shall be taken in respect of,
or occur with respect to, a Consolidated Subsidiary, such action or event shall not be the
basis for or give rise to an Event of Default under this subsection (e) if (x) the assets or
revenues of such Consolidated Subsidiary and its Consolidated Subsidiaries, taken as a
whole, comprise 5% or less of the assets or revenues, respectively, of the Company and its
Consolidated Subsidiaries, taken as a whole, and (y) the aggregate assets and revenues of
all Consolidated Subsidiaries otherwise subject to such actions or events set forth above do
not comprise more than 15% of the assets or revenues, respectively, of the Company and its
Consolidated Subsidiaries taken as a whole; or

     (f) Judgments or orders for the payment of money in excess of $10,000,000 in the
aggregate shall be rendered against the Company or any of its Consolidated Subsidiaries and
either (i) enforcement proceedings shall have been commenced by any creditor upon such
judgment or order or (ii) there shall be any period of 60 consecutive days during which a
stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise,
shall not be in effect; or

     (g) (i) Any Person or two or more Persons acting in concert (other than the Company or
a Consolidated Subsidiary) shall have acquired beneficial ownership (within the meaning of
Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of
1934), directly or indirectly, of Voting Stock of the Company (or other securities
convertible into such Voting Stock) representing 30% or more of the combined voting power of
all Voting Stock of the Company; or (ii) during any period of up to 24 consecutive months,
commencing after the date of this Agreement, individuals who at the beginning of such period
were directors of the Company shall cease for any reason to constitute a majority of the
board of directors of the Company unless the election or nomination for election by the
Company’s stockholders of each new director was approved by the vote of at least two-thirds
of the directors then still in office who were directors at the beginning of such period; or

     (h) The Company or any of its ERISA Affiliates shall incur liability, or in the case of
clause (i) below, shall be reasonably likely to incur liability, in excess of $10,000,000 in
the aggregate as a result of one or more of the following: (i) the occurrence of any ERISA
Event; (ii) the partial or complete withdrawal of the Company or any of its ERISA Affiliates
from a Multiemployer Plan; or (iii) the reorganization or termination of a Multiemployer
Plan; or

     (i) so long as any Consolidated Subsidiary of the Company is a Designated Subsidiary,
any provision of Article VII shall for any reason cease to be valid and binding on or
enforceable against the Company, or the Company shall so state in writing;

3-Year Credit Agreement

37

 

then, and in any such event, the Agent (i) shall at the request, or may with the consent, of the
Required Lenders, by notice to the Company and the other Borrowers, declare the obligation of each
Lender to make Advances (other than Swing Line Advances by any Lender pursuant to Section 2.02(b)
and Advances by an Issuing Bank or a Lender pursuant to Section 2.03(c)), and of the Issuing Banks
to issue Letters of Credit to be terminated, whereupon the same shall forthwith terminate, and (ii)
shall at the request, or may with the consent, of the Required Lenders, by notice to the Company
and the other Borrowers, declare the Advances, all interest thereon and all other amounts payable
under this Agreement to be forthwith due and payable, whereupon such Advances, all such interest
and all such amounts shall become and be forthwith due and payable, without presentment, demand,
protest or further notice of any kind, all of which are hereby expressly waived by each Borrower;
provided, however, that in the event of an actual or deemed entry of an order for relief with
respect to any Borrower under the Federal Bankruptcy Code, (A) the obligation of each Lender to
make Advances (other than Swing Line Advances by a Lender pursuant to Section 2.02(b) and Advances
by an Issuing Bank or a Lender pursuant to Section 2.03(c)), and of the Issuing Banks to issue
Letters of Credit shall automatically be terminated and (B) such Advances, all such interest and
all such amounts shall automatically become and be due and payable, without presentment, demand,
protest or any notice of any kind, all of which are hereby expressly waived by each Borrower.

          SECTION 6.02. Actions in Respect of the Letters of Credit upon Default. If any Event
of Default shall have occurred and be continuing, the Agent may with the consent, or shall at the
request, of the Required Lenders, irrespective of whether it is taking any of the actions described
in Section 6.01 or otherwise, make demand upon the Company to, and forthwith upon such demand the
Company will, (a) pay to the Agent on behalf of the Lenders in same day funds at the Agent’s office
designated in such demand, for deposit in the L/C Cash Deposit Account, an amount equal to the
aggregate Available Amount of all Letters of Credit then outstanding or (b) make such other
reasonable arrangements in respect of the outstanding Letters of Credit as shall be acceptable to
the Required Lenders. If at any time the Agent reasonably determines that any funds held in the
L/C Cash Deposit Account are subject to any right or interest of any Person other than the Agent
and the Lenders or that the total amount of such funds is less than the aggregate Available Amount
of all Letters of Credit, the Borrowers will, forthwith upon demand by the Agent, pay to the Agent,
as additional funds to be deposited and held in the L/C Cash Deposit Account, an amount equal to
the excess of (x) such aggregate Available Amount over (y) the total amount of funds, if any, then
held in the L/C Cash Deposit Account that are free and clear of any such right and interest. Upon
the drawing of any Letter of Credit, to the extent funds are on deposit in the L/C Cash Deposit
Account, such funds shall be applied to reimburse the Issuing Banks to the extent permitted by
applicable law, and if so applied, then such reimbursement shall be deemed a repayment of the
corresponding Advance in respect of such Letter of Credit. To the extent that any such Letter of
Credit expires or otherwise terminates, and to the extent the applicable Issuing Bank’s liability
has ceased to exist under such Letter of Credit, and funds are on deposit in the L/C Cash Deposit
Account in respect of such Letter of Credit, an amount equal to the undrawn amounts under such
Letter of Credit shall be promptly returned from such L/C Cash Deposit Account to the Company. If
any Event of Default has been waived or otherwise cured and no other Event of Default has occurred
and is continuing, the balance, if any, in the L/C Cash Deposit Account shall be promptly returned
to the Company. If, in accordance with this Section 6.02, the balance in the L/C Cash Deposit
Account has not been otherwise returned, then after all such Letters of Credit shall have expired
or been fully drawn upon and all other obligations of the Borrowers hereunder and under the Notes
shall have been paid in full, the balance, if any, in such L/C Cash Deposit Account shall be
promptly returned to the Company.

3-Year Credit Agreement

38

 

ARTICLE VII

GUARANTY

          SECTION 7.01. Guaranty. The Company hereby absolutely, unconditionally and
irrevocably guarantees, as a guarantee of payment and not of collection, the punctual payment when
due, whether at scheduled maturity or on any date of a required prepayment or by acceleration,
demand or otherwise, of all obligations of each other Borrower now or hereafter existing under or
in respect of this Agreement and any Notes (including, without limitation, any extensions,
modifications, substitutions, amendments or renewals of any or all of the foregoing obligations),
whether direct or indirect, absolute or contingent, and whether for principal, interest, premiums,
fees, indemnities, contract causes of action, costs, expenses or otherwise (such obligations being
the “Guaranteed Obligations”), and agrees to pay any and all expenses (including, without
limitation, fees and expenses of counsel) incurred by the Agent or any other Lender in enforcing
any rights under this Article VII. Without limiting the generality of the foregoing, the Company’s
liability shall extend to all amounts that constitute part of the Guaranteed Obligations and would
be owed by any such Borrower to the Agent or any Lender under or in respect of this Agreement or
any Notes but for the fact that they are unenforceable or not allowable due to the existence of a
bankruptcy, reorganization or similar proceeding involving such Borrower.

          SECTION 7.02. Guaranty Absolute. The Company guarantees that the Guaranteed
Obligations will be paid strictly in accordance with the terms of this Agreement and the Notes, if
any, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction
affecting any of such terms or the rights of any Lender with respect thereto. The obligations of
the Company under or in respect of this Article VII are independent of the Guaranteed Obligations
or any other obligations of any other Borrower under or in respect of this Agreement and any Notes,
and a separate action or actions may be brought and prosecuted against the Company to enforce this
Article VII, irrespective of whether any action is brought against any Borrower or whether any
Borrower is joined in any such action or actions. The liability of the Company under this Article
VII shall be irrevocable, absolute and unconditional irrespective of, and the Company hereby
irrevocably waives any defenses it may now have or hereafter acquire in any way relating to, any or
all of the following:

     (a) any lack of validity or enforceability of this Agreement (other than this Article
VII), the Notes, if any, or any agreement or instrument relating thereto;

     (b) any change in the time, manner or place of payment of, or in any other term of, all
or any of the Guaranteed Obligations or any other obligations of any Borrower under or in
respect of this Agreement or the Notes, if any, or any other amendment or waiver of or any
consent to departure from this Agreement or the Notes, if any, including, without
limitation, any increase in the Guaranteed Obligations resulting from the extension of
additional credit to any Borrower or any of its Subsidiaries or otherwise;

     (c) any taking, exchange, release or non-perfection of any collateral, or any taking,
release or amendment or waiver of, or consent to departure from, any other guaranty, for all
or any of the Guaranteed Obligations;

     (d) any manner of application of collateral, or proceeds thereof, to all or any of the
Guaranteed Obligations, or any manner of sale or other disposition of any collateral for all
or any of the Guaranteed Obligations or any other obligations of any Borrower under this
Agreement or the Notes, if any, or any other assets of any Borrower or any of its
Subsidiaries;

     (e) any change, restructuring or termination of the corporate structure or existence of
any Borrower or any of its Subsidiaries;

     (f) any failure of any Lender or the Agent to disclose to the Company any information
relating to the business, condition (financial or otherwise), operations, performance,
properties or prospects of any Borrower now or hereafter known to such Lender or the Agent
(the Company waiving any duty on the part of the Lenders and the Agent to disclose such
information); or

3-Year Credit Agreement

39

 

     (g) any other circumstance (including, without limitation, any statute of limitations)
or any existence of or reliance on any representation by any Lender or the Agent that might
otherwise constitute a defense available to, or a discharge of, any Borrower or any other
guarantor or surety.

This Article VII shall continue to be effective or be reinstated, as the case may be, if at any
time any payment of any of the Guaranteed Obligations is rescinded or must otherwise be returned by
any Lender or the Agent or any other Person upon the insolvency, bankruptcy or reorganization of
any Borrower or otherwise, all as though such payment had not been made.

          SECTION 7.03. Waivers and Acknowledgments. (a) The Company hereby unconditionally
and irrevocably waives promptness, diligence, notice of acceptance, presentment, demand for
performance, notice of nonperformance, default, acceleration, protest or dishonor and any other
notice with respect to any of the Guaranteed Obligations and this Article VII and any requirement
that any Lender or the Agent protect, secure, perfect or insure any Lien or any property subject
thereto or exhaust any right or take any action against any Borrower or any other Person or any
collateral.

          (b) The Company hereby unconditionally and irrevocably waives any right to revoke this Article
VII and acknowledges that the guaranty under this Article VII is continuing in nature and applies
to all Guaranteed Obligations, whether existing now or in the future.

          (c) The Company hereby unconditionally and irrevocably waives (i) any defense arising by
reason of any claim or defense based upon an election of remedies by any Lender or the Agent that
in any manner impairs, reduces, releases or otherwise adversely affects the subrogation,
reimbursement, exoneration, contribution or indemnification rights of the Company or other rights
of the Company to proceed against any Borrower, any other guarantor or any other Person or any
collateral and (ii) any defense based on any right of set-off or counterclaim against or in respect
of the obligations of the Company hereunder.

          (d) The Company hereby unconditionally and irrevocably waives any duty on the part of any
Lender or the Agent to disclose to the Company any matter, fact or thing relating to the business,
condition (financial or otherwise), operations, performance, properties or prospects of any
Borrower or any of its Subsidiaries now or hereafter known by such Lender or the Agent.

          (e) The Company acknowledges that it will receive substantial direct and indirect benefits
from the financing arrangements contemplated by this Agreement and any Notes and that the waivers
set forth in Section 7.02 and this Section 7.03 are knowingly made in contemplation of such
benefits.

          SECTION 7.04. Subrogation. The Company hereby unconditionally and irrevocably agrees
not to exercise any rights that it may now have or hereafter acquire against any Borrower or any
other insider guarantor that arise from the existence, payment, performance or enforcement of the
Company’s Obligations under or in respect of this Article VII, including, without limitation, any
right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to
participate in any claim or remedy of any Lender or the Agent against any Borrower or any other
insider guarantor or any collateral, whether or not such claim, remedy or right arises in equity or
under contract, statute or common law, including, without limitation, the right to take or receive
from any Borrower or any other insider guarantor, directly or indirectly, in cash or other property
or by set-off or in any other manner, payment or security on account of such claim, remedy or
right, unless and until all of the Guaranteed Obligations and all other amounts payable under this
Article VII shall have been paid in full in cash and the Commitments shall have expired or been
terminated. If any amount shall be paid to the Company in violation of the immediately preceding
sentence at any time prior to the later of (a) the payment in full in cash of the Guaranteed
Obligations and all other amounts payable under this Article VII and (b) the Termination Date, such
amount shall be received and held in trust for the benefit of the Lenders and the Agent, shall be
segregated from other property and funds of the Company and shall forthwith be paid or delivered to
the Agent in the same form as so received (with any necessary endorsement or assignment) to be
credited and applied to the Guaranteed Obligations and all other amounts payable under this Article
VII, whether matured or unmatured, in accordance with the terms of this Agreement, or to be held as
collateral for any Guaranteed Obligations or other amounts payable under this Article VII
thereafter arising. If (i) the Company shall make
payment to any Lender or the Agent of all or any part of the

3-Year Credit Agreement

40

 

Guaranteed Obligations, (ii) all
of the Guaranteed Obligations and all other amounts payable under this Article VII shall have been
paid in full in cash and (iii) the Termination Date shall have occurred, the Lenders and the Agent
will, at the Company’s request and expense, execute and deliver to the Company appropriate
documents, without recourse and without representation or warranty, necessary to evidence the
transfer by subrogation to the Company of an interest in the Guaranteed Obligations resulting from
such payment made by the Company pursuant to this Article VII.

          SECTION 7.05. Continuing Guaranty; Assignments. The guaranty under this Article VII
is a continuing guaranty and shall (a) remain in full force and effect until the later of (i) the
payment in full in cash of the Guaranteed Obligations and all other amounts payable under this
Article VII and (ii) the Termination Date, (b) be binding upon the Company, its successors and
assigns and (c) inure to the benefit of and be enforceable by the Lenders and the Agent and their
successors, transferees and assigns. Without limiting the generality of clause (c) of the
immediately preceding sentence, any Lender may assign or otherwise transfer all or any portion of
its rights and obligations under this Agreement (including, without limitation, all or any portion
of its Commitments, the Advances owing to it and the Note or Notes held by it, if any) to any other
Person, and such other Person shall thereupon become vested with all the benefits in respect
thereof granted to such Lender herein or otherwise, in each case as and to the extent provided in
Section 9.07. The Company shall not have the right to assign its rights hereunder or any interest
herein without the prior written consent of the Lenders.

ARTICLE VIII

THE AGENT

     SECTION 8.01. Authorization and Action. Each Lender (in its capacities as a Lender
and Issuing Bank, as applicable) hereby appoints and authorizes the Agent to take such action as
agent on its behalf and to exercise such powers and discretion under this Agreement as are
delegated to the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto. As to any matters not expressly provided for by this Agreement
(including, without limitation, enforcement or collection of any Notes), the Agent shall not be
required to exercise any discretion or take any action, but shall be required to act or to refrain
from acting (and shall be fully protected in so acting or refraining from acting) upon the
instructions of the Required Lenders, and such instructions shall be binding upon all Lenders and
all holders of any Notes; provided, however, that the Agent shall not be required
to take any action that exposes the Agent to personal liability or that is contrary to this
Agreement or applicable law. The Agent agrees to give to each Lender prompt notice of each notice
given to it by the Company or any other Borrower pursuant to the terms of this Agreement.

     SECTION 8.02. Agent’s Reliance, Etc. Neither the Agent nor any of its directors,
officers, agents or employees shall be liable for any action taken or omitted to be taken by it or
them under or in connection with this Agreement, except for its or their own gross negligence or
willful misconduct. Without limitation of the generality of the foregoing, the Agent: (i) may
treat the Lender that made any Advance as the holder of the Debt resulting therefrom until the
Agent receives and accepts an Assignment and Acceptance entered into by such Lender, as assignor,
and an Eligible Assignee, as assignee, as provided in Section 9.07; (ii) may consult with legal
counsel (including counsel for the Company), independent public accountants and other experts
selected by it and shall not be liable for any action taken or omitted to be taken in good faith by
it in accordance with the advice of such counsel, accountants or experts; (iii) makes no warranty
or representation to any Lender and shall not be responsible to any Lender for any statements,
warranties or representations (whether written or oral) made in or in connection with this
Agreement; (iv) shall not have any duty to ascertain or to inquire as to the performance or
observance of any of the terms, covenants or conditions of this Agreement on the part of the
Company or any other Borrower or to inspect the property (including the books and records) of the
Company or any other Borrower; (v) shall not be responsible to any Lender for the due execution,
legality, validity, enforceability, genuineness, sufficiency or value of, or the perfection or
priority of any lien or security interest created or purported to be created under or in connection
with, this Agreement or any other instrument or document furnished pursuant hereto; and (vi) shall
incur no liability under or in respect of this Agreement by acting upon any notice, consent,
certificate or other instrument or writing (which may be by facsimile) believed by it to be genuine
and signed or sent by the proper party or parties.

3-Year Credit Agreement

41

 

          SECTION 8.03. Citibank and Affiliates. With respect to its Commitments, the Advances
made by it and any Notes issued to it, Citibank shall have the same rights and powers under this
Agreement as any other Lender and may exercise the same as though it were not the Agent; and the
term “Lender” or “Lenders” shall, unless otherwise expressly indicated, include Citibank in its
individual capacity. Citibank and its Affiliates may accept deposits from, lend money to, act as
trustee under indentures of, accept investment banking engagements from and generally engage in any
kind of business with, the Company, any of its Subsidiaries and any Person who may do business with
or own securities of the Company or any such Subsidiary, all as if Citibank were not the Agent and
without any duty to account therefor to the Lenders.

          SECTION 8.04. Lender Credit Decision. Each Lender acknowledges that it has,
independently and without reliance upon the Agent or any other Lender and based on the financial
statements referred to in Section 4.01 and such other 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 Agent or any other
Lender and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under this Agreement.

          SECTION 8.05. Indemnification. (a) Each Lender severally agrees to indemnify the
Agent (to the extent not promptly reimbursed by the Company) from and against such Lender’s Ratable
Share of any and all liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on,
incurred by, or asserted against the Agent in any way relating to or arising out of this Agreement
or any action taken or omitted by the Agent under this Agreement (collectively, the
“Indemnified Costs”), provided that no Lender shall be liable for any portion of
the Indemnified Costs resulting from the Agent’s gross negligence or willful misconduct. Without
limitation of the foregoing, each Lender agrees to reimburse the Agent promptly upon demand for its
Ratable Share of any out-of-pocket expenses (including reasonable counsel fees) incurred by the
Agent in connection with the preparation, execution, delivery, administration, modification,
amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or
legal advice in respect of rights or responsibilities under, this Agreement, to the extent that the
Agent is not reimbursed for such expenses by the Company. In the case of any investigation,
litigation or proceeding giving rise to any Indemnified Costs, this Section 8.05 applies whether
any such investigation, litigation or proceeding is brought by the Agent, any Lender or a third
party.

          (b) Each Lender severally agrees to indemnify the Issuing Banks (to the extent not promptly
reimbursed by the Company) from and against such Lender’s Ratable Share of any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted
against any such Issuing Bank in any way relating to or arising out of this Agreement or any action
taken or omitted by such Issuing Bank hereunder or in connection herewith; provided,
however, that no Lender shall be liable for any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting
from such Issuing Bank’s gross negligence or willful misconduct. Without limitation of the
foregoing, each Lender agrees to reimburse any such Issuing Bank promptly upon demand for its
Ratable Share of any costs and expenses (including, without limitation, fees and expenses of
counsel) payable by the Company under Section 9.04, to the extent that such Issuing Bank is not
promptly reimbursed for such costs and expenses by the Company.

          (c) The failure of any Lender to reimburse the Agent or any Issuing Bank promptly upon demand
for its Ratable Share of any amount required to be paid by the Lenders to the Agent as provided
herein shall not relieve any other Lender of its obligation hereunder to reimburse the Agent or any
Issuing Bank for its Ratable Share of such amount, but no Lender shall be responsible for the
failure of any other Lender to reimburse the Agent or any Issuing Bank for such other Lender’s
Ratable Share of such amount. Without prejudice to the survival of any other agreement of any
Lender hereunder, the agreement and obligations of each Lender contained in this Section 8.05 shall
survive the payment in full of principal, interest and all other amounts payable hereunder and
under any Notes. Each of the Agent and each Issuing Bank agrees to return to the Lenders their
respective Ratable Shares of any amounts paid under this Section 8.05 that are subsequently
reimbursed by the Company or any Borrower.

          SECTION 8.06. Successor Agent. The Agent may resign at any time by giving written
notice thereof to the Lenders and the Company and may be removed at any time
with or without cause by the Required

3-Year Credit Agreement

42

 

Lenders. Upon any such resignation or removal, the
Required Lenders shall have the right to appoint a successor Agent. If no successor Agent shall
have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30
days after the retiring Agent’s giving of notice of resignation or the Required Lenders’ removal of
the retiring Agent, then the retiring Agent may, on behalf of the Lenders, appoint a successor
Agent, which shall be a commercial bank organized under the laws of the United States of America or
of any State thereof and having a combined capital and surplus of at least $500,000,000. Upon the
acceptance of any appointment as Agent hereunder by a successor Agent, such successor Agent shall
thereupon succeed to and become vested with all the rights, powers, discretion, privileges and
duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and
obligations under this Agreement. After any retiring Agent’s resignation or removal hereunder as
Agent, the provisions of this Article VII shall inure to its benefit as to any actions taken or
omitted to be taken by it while it was Agent under this Agreement.

          SECTION 8.07. Sub-Agent. The Sub-Agent has been designated under this Agreement to
carry out duties of the Agent. The Sub-Agent shall be subject to each of the obligations in this
Agreement to be performed by the Sub-Agent, and each of the Company, each other Borrower and the
Lenders agrees that the Sub-Agent shall be entitled to exercise each of the rights and shall be
entitled to each of the benefits of the Agent under this Agreement as relate to the performance of
its obligations hereunder.

          SECTION 8.08. Other Agents. Each Lender hereby acknowledges that neither the
documentation agent nor any other Lender designated as any “Agent” (other than the Agent) on the
signature pages hereof has any liability hereunder other than in its capacity as a Lender.

ARTICLE IX

MISCELLANEOUS

          SECTION 9.01. Amendments, Etc. No amendment or waiver of any provision of this
Agreement or any Notes, nor consent to any departure by the Company or any other Borrower
therefrom, shall in any event be effective unless the same shall be in writing and signed by the
Required Lenders, and then such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given; provided, however, that no amendment,
waiver or consent shall, unless in writing and signed by all the Lenders, do any of the following:
(a) waive any of the conditions specified in Section 3.01 or Section 3.02, (b) increase the
Commitments of the Lenders or subject the Lenders to any additional obligations, (c) reduce the
principal of, or interest on, the Advances or any fees or other amounts payable hereunder, (d)
postpone any date fixed for any payment of principal of, or interest on, the Advances or any fees
or other amounts payable hereunder, (e) change the percentage of the Commitments or of the
aggregate unpaid principal amount of the Advances, or the number of Lenders, that shall be required
for the Lenders or any of them to take any action hereunder, (f) reduce or limit the obligations of
the Company under Section 7.01 or release or otherwise limit the Company’s liability with respect
to its obligations under Article VII or (g) amend the definition of “Required Lenders” or this
Section 9.01; provided further that (i) no amendment, waiver or consent shall,
unless in writing and signed by the Agent in addition to the Lenders required above to take such
action, affect the rights or duties of the Agent under this Agreement or any Note, (ii) no
amendment, waiver or consent of Section 9.07(f) shall, unless in writing and signed by each Lender
that has granted a funding option to an SPC in addition to the Lenders required above to take such
action, affect the rights or duties of such Lender or SPC under this Agreement or any Note; (iii)
no amendment, waiver or consent shall, unless in writing and signed by each Swing Line Bank in
addition to the Lenders required above to take such action, adversely affect the rights or
obligations of the Swing Line Banks in their capacities as such under this Agreement; and (iv) no
amendment, waiver or consent shall, unless in writing and signed by the Issuing Banks in addition
to the Lenders required above to take such action, adversely affect the rights or obligations of
the Issuing Banks in their capacities as such under this Agreement.

          SECTION 9.02. Notices, Etc. All notices and other communications provided for
hereunder shall be either (x) in writing (including facsimile communication) and mailed, telecopied
or delivered or (y) as and to the extent set forth in Section 9.02(b) and in the proviso to this
Section 9.02(a), if to the Company or any other Borrower, to (or in care of) the Company, at its
address at 1114
Avenue of the Americas, New York, New York

3-Year Credit Agreement

43

 

10036, Attention: Senior Vice President and
Treasurer (with a copy at the same address to the Senior Vice President and General Counsel); if to
any Initial Lender, at its Domestic Lending Office specified opposite its name on Schedule I
hereto; if to any other Lender, at its Domestic Lending Office specified in the Assignment and
Acceptance pursuant to which it became a Lender; and if to the Agent, at its address at Two Penns
Way, New Castle, Delaware 19720, Attention: Bank Loan Syndications Department; or, as to the
Company or the Agent, at such other address as shall be designated by such party in a written
notice to the other parties and, as to each other party, at such other address as shall be
designated by such party in a written notice to the Company and the Agent, provided that
materials required to be delivered pursuant to Section 5.01(h)(i), (ii) or (iv) shall be delivered
to the Agent as specified in Section 9.02(b) or as otherwise specified to the applicable Borrower
by the Agent. All such notices and communications shall, when mailed, telecopied or e-mailed, be
effective when deposited in the mails, telecopied or confirmed by e-mail, respectively, except that
notices and communications to the Agent pursuant to Article II, III or VII shall not be effective
until received by the Agent. Delivery by facsimile of an executed counterpart of any amendment or
waiver of any provision of this Agreement or any Notes or of any Exhibit hereto to be executed and
delivered hereunder shall be effective as delivery of a manually executed counterpart thereof.

          (b) So long as Citibank or any of its Affiliates is the Agent, materials required to be
delivered pursuant to Sections 5.01(h)(i), (ii) and (iv) may be delivered to the Agent in an
electronic medium in a format acceptable to the Agent and the Lenders by e-mail at
oploanswebadmin@citigroup.com. Each Borrower agrees that the Agent may make such materials, as
well as any other written information, documents, instruments and other material relating to such
Borrower, any of its Subsidiaries or any other materials or matters relating to this Agreement, any
Notes or any of the transactions contemplated hereby (collectively, the “Communications”)
available to the Lenders by posting such notices on Intralinks (the “Platform”). Each
Borrower acknowledges that (i) the distribution of material through an electronic medium is not
necessarily secure and that there are confidentiality and other risks associated with such
distribution, (ii) the Platform is provided “as is” and “as available” and (iii) neither the Agent
nor any of its Affiliates warrants the accuracy, adequacy or completeness of the Communications or
the Platform and each expressly disclaims liability for errors or omissions in the Communications
or the Platform. No warranty of any kind, express, implied or statutory, including, without
limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement of
third party rights or freedom from viruses or other code defects, is made by the Agent or any of
its Affiliates in connection with the Platform.

          (c) Each Lender agrees that notice to it (as provided in the next sentence) (a
“Notice”) specifying that any Communications have been posted to the Platform shall
constitute effective delivery of such information, documents or other materials to such Lender for
purposes of this Agreement; provided that if requested by any Lender the Agent shall
deliver a copy of the Communications to such Lender by e-mail or telecopier. Each Lender agrees
(i) to notify the Agent in writing of such Lender’s e-mail address or addresses to which a Notice
may be sent by electronic transmission (including by electronic communication) on or before the
date such Lender becomes a party to this Agreement (and from time to time thereafter to ensure that
the Agent has on record an effective e-mail address(es) for such Lender) and (ii) that any Notice
may be sent to such e-mail address or addresses.

          SECTION 9.03. No Waiver; Remedies. No failure on the part of any Lender or the Agent
to exercise, and no delay in exercising, any right hereunder or under any Note shall operate as a
waiver thereof; nor shall any single or partial exercise of any such right preclude any other or
further exercise thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

          SECTION 9.04. Costs and Expenses. (a) The Company agrees to pay on demand all
reasonable out-of-pocket expenses of the Agent in connection with the preparation, execution,
delivery, administration, modification and amendment of this Agreement, any Notes and the other
documents to be delivered hereunder, including, without limitation, (A) all due diligence,
syndication (including printing, distribution and bank meetings), transportation, computer,
duplication, appraisal, consultant, and audit expenses and (B) the reasonable fees and expenses of
counsel for the Agent with respect thereto and with respect to advising the Agent as to its rights
and responsibilities under this Agreement. The Company further agrees to pay on demand all costs
and expenses of the Agent and the Lenders, if any (including, without limitation,
reasonable counsel fees and expenses), in connection with the enforcement (whether through
negotiations, legal proceedings or otherwise) of this Agreement, any Notes

3-Year Credit Agreement

44

 

and the other documents
to be delivered hereunder, including, without limitation, reasonable fees and expenses of counsel
for the Agent and each Lender in connection with the enforcement of rights under this Section
9.04(a).

          (b) The Company agrees to indemnify and hold harmless the Agent and each Lender and each of
their Affiliates and their officers, directors, employees, agents and advisors (each, an
“Indemnified Party”) from and against any and all claims, damages, losses, liabilities and
expenses (including, without limitation, reasonable fees and expenses of counsel) incurred by or
asserted or awarded against any Indemnified Party, in each case arising out of or in connection
with or by reason of (including, without limitation, in connection with any investigation,
litigation or proceeding or preparation of a defense in connection therewith) any Notes, this
Agreement, any of the transactions contemplated herein or the actual or proposed use of the
proceeds of the Advances, except to the extent such claim, damage, loss, liability or expense is
found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted
from such Indemnified Party’s gross negligence or willful misconduct. In the case of an
investigation, litigation or other proceeding to which the indemnity in this Section 9.04(b)
applies, such indemnity shall be effective whether or not such investigation, litigation or
proceeding is brought by the Company, its directors, shareholders or creditors or an Indemnified
Party or any other Person or any Indemnified Party is otherwise a party thereto. The Company also
agrees not to assert any claim for special, indirect, consequential or punitive damages against the
Agent, any Lender, any of their Affiliates, or any of their respective directors, officers,
employees, attorneys and agents, on any theory of liability, arising out of or otherwise relating
to any Notes, this Agreement, any of the transactions contemplated herein or the actual or proposed
use of the proceeds of the Advances.

          (c) If any payment of principal of, or Conversion of, any Eurocurrency Rate Advance is made by
any Borrower to or for the account of a Lender other than on the last day of the Interest Period
for such Advance, as a result of a payment or Conversion pursuant to Section 2.08(d) or (e), 2.10
or 2.12, acceleration of the maturity of any Notes pursuant to Section 6.01 or for any other
reason, or by an Eligible Assignee to a Lender other than on the last day of the Interest Period
for such Advance upon an assignment of rights and obligations under this Agreement pursuant to
Section 9.07 as a result of a demand by the Company pursuant to Section 9.07(a), such Borrower
shall, upon demand by such Lender (with a copy of such demand to the Agent), pay to the Agent for
the account of such Lender any amounts required to compensate such Lender for any additional
losses, costs or expenses that it may reasonably incur as a result of such payment or Conversion,
including, without limitation, any loss (excluding loss of anticipated profits), cost or expense
incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any
Lender to fund or maintain such Advance.

          (d) Without prejudice to the survival of any other agreement of the Company and the other
Borrowers hereunder, the agreements and obligations of the Company and the other Borrowers
contained in Sections 2.11, 2.14 and 9.04 shall survive the payment in full of principal, interest
and all other amounts payable hereunder and under any Notes.

          SECTION 9.05. Right of Set-off. Upon (i) the occurrence and during the continuance
of any Event of Default and (ii) the making of the request or the granting of the consent specified
by Section 6.01 to authorize the Agent to declare the Advances due and payable pursuant to the
provisions of Section 6.01, 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) at any time held and other
indebtedness at any time owing by such Lender or such Affiliate to or for the credit or the account
of the Company or any Borrower against any and all of the obligations of the Company or any
Borrower now or hereafter existing under this Agreement and any Note held by such Lender, whether
or not such Lender shall have made any demand under this Agreement or such Note and although such
obligations may be unmatured. Each Lender agrees promptly to notify the appropriate Borrower after
any such set-off and application, provided that the failure to give such notice shall not
affect the validity of such set-off and application. The rights of each Lender and its Affiliates
under this Section are in addition to other rights and remedies (including, without limitation,
other rights of set-off) that such Lender and its Affiliates may have.

          SECTION 9.06. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of the Company, the Agent and each Lender and their respective successors
and assigns, except that neither the Company nor any other Borrower shall have the right to
assign its rights hereunder or any interest herein without the prior written consent of the
Lenders.

3-Year Credit Agreement

45

 

          SECTION 9.07. Assignments and Participations. (a) Each Lender may and, so long as
no Default shall have occurred and be continuing, if demanded by the Company (following a demand by
such Lender pursuant to Section 2.11 or 2.14) upon at least 5 Business Days’ notice to such Lender
and the Agent, will assign to one or more Persons all or a portion of its rights and obligations
under this Agreement (including, without limitation, all or a portion of its Commitment, its
Unissued Letter of Credit Commitment, the Advances owing to it, its participations in Letters of
Credit and any Note or Notes held by it); provided, however, that (i) each such
assignment shall be of a constant, and not a varying, percentage of all rights and obligations
under this Agreement related to the Commitments or the Unissued Letter of Credit Commitment
assigned thereby, (ii) except in the case of an assignment to a Person that, immediately prior to
such assignment, was a Lender or an assignment of all of a Lender’s rights and obligations under
this Agreement, the amount of (x) the Commitment of the assigning Lender being assigned pursuant to
each such assignment (determined as of the date of the Assignment and Acceptance with respect to
such assignment) shall in no event be less than $5,000,000 or an integral multiple of $1,000,000 in
excess thereof and (y) the Unissued Letter of Credit Commitment of the assigning Lender being
assigned pursuant to each such assignment (determined as of the date of the Assignment and
Acceptance with respect to such assignment) shall in no event be less than $1,000,000 or an
integral multiple of $1,000,000 in excess thereof, (iii) each such assignment shall be to an
Eligible Assignee, (iv) each such assignment made as a result of a demand by the Company pursuant
to this Section 9.07(a) shall be arranged by the Company after consultation with the Agent and
shall be either an assignment of all of the rights and obligations of the assigning Lender under
this Agreement or an assignment of a portion of such rights and obligations made concurrently with
another such assignment or other such assignments that together cover all of the rights and
obligations of the assigning Lender under this Agreement, (v) no Lender shall be obligated to make
any such assignment as a result of a demand by the Company pursuant to this Section 9.07(a) unless
and until such Lender shall have received one or more payments from either the Company or one or
more Eligible Assignees in an aggregate amount at least equal to the aggregate outstanding
principal amount of the Advances owing to such Lender, together with accrued interest thereon to
the date of payment of such principal amount and all other amounts payable to such Lender under
this Agreement, and (vi) the parties to each such assignment shall execute and deliver to the
Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together
with any Note subject to such assignment and a processing and recordation fee of $3,500 payable by
the parties to each such assignment, provided, however, that in the case of each
assignment made as a result of a demand by the Company, such recordation fee shall be payable by
the Company except that no such recordation fee shall be payable in the case of an assignment made
at the request of the Company to an Eligible Assignee that is an existing Lender, and (vii) any
Lender may, without the approval of the Company or the Agent, assign all or a portion of its rights
to any of its Affiliates or to another Lender unless on the date of such assignment the assignee
would be entitled to make a demand pursuant to Section 2.11 or 2.14, in which case such assignment
shall be permitted only if the assignee shall waive in a manner satisfactory to
 the Company in form
and substance its rights to make such a demand. Upon such execution, delivery, acceptance and
recording, from and after the effective date specified in each Assignment and Acceptance, (x) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations
hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights and
obligations of a Lender hereunder and (y) the Lender assignor thereunder shall, to the extent that
rights and obligations hereunder have been assigned by it pursuant to such Assignment and
Acceptance, relinquish its rights (other than its rights under Section 2.11, 2.14 and 9.04 to the
extent any claim thereunder relates to an event arising prior such assignment) and be released from
its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all
or the remaining portion of an assigning Lender’s rights and obligations under this Agreement, such
Lender shall cease to be a party hereto).

          (b) By executing and delivering an Assignment and Acceptance, the Lender assignor thereunder
and the assignee thereunder confirm to and agree with each other and the other parties hereto as
follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes
no representation or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with this Agreement or the execution,
legality, validity, enforceability, genuineness, sufficiency or value of, or the perfection or
priority of any lien or security interest created or purported to be created under or in connection
with, this Agreement or any other instrument or document furnished pursuant hereto; (ii) such
assigning Lender makes no representation or warranty and assumes no responsibility with respect to
the financial condition of
the Company or any other Borrower or the performance or observance by the Company or any other
Borrower of any of its obligations under this Agreement or any other instrument or document
furnished pursuant hereto; (iii) such assignee confirms that it has received a copy of this
Agreement, together with copies of the financial statements referred to in Section 4.01 and such
other documents and information as it has deemed appropriate to make its own

3-Year Credit Agreement

46

 

credit analysis and
decision to enter into such Assignment and Acceptance; (iv) such assignee will, independently and
without reliance upon the Agent, such assigning Lender 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 this Agreement; (v) such assignee confirms that it
is an Eligible Assignee; (vi) such assignee appoints and authorizes the Agent to take such action
as agent on its behalf and to exercise such powers and discretion under this Agreement as are
delegated to the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance
with their terms all of the obligations that by the terms of this Agreement are required to be
performed by it as a Lender.

          (c) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an
assignee representing that it is an Eligible Assignee, together with any Note or Notes subject to
such assignment, the Agent shall, if such Assignment and Acceptance has been completed and is in
substantially the form of Exhibit C hereto, (i) accept such Assignment and Acceptance, (ii) record
the information contained therein in the Register and (iii) give prompt notice thereof to the
Company.

          (d) The Agent shall maintain at its address referred to in Section 9.02 a copy of each
Assignment and Acceptance delivered to and accepted by it and a register for the recordation of the
names and addresses of the Lenders and the Commitment of, and principal amount of the Advances
owing to, each Lender from time to time (the “Register”). The entries in the Register
shall be conclusive and binding for all purposes, absent manifest error, and the Company, the Agent
and the Lenders may treat each Person whose name is recorded in the Register as a Lender hereunder
for all purposes of this Agreement. The Register shall be available for inspection by the Company
or any Lender at any reasonable time and from time to time upon reasonable prior notice.

          (e) Each Lender may sell participations to one or more banks or other entities (other than the
Company or any of its Affiliates) in or to all or a portion of its rights and obligations under
this Agreement (including, without limitation, all or a portion of its Commitment, the Advances
owing to it and any Note or Notes held by it); provided, however, that (i) such
Lender’s obligations under this Agreement (including, without limitation, its Commitment to the
Borrowers hereunder) shall remain unchanged, (ii) such Lender shall remain solely responsible to
the other parties hereto for the performance of such obligations, (iii) such Lender shall remain
the holder of any such Note for all purposes of this Agreement, (iv) the Company, the other
Borrowers, the Agent 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 and (v) no
participant under any such participation shall have any rights as a Lender hereunder, including,
without limitation, any right to make any demand under Section 2.11 or 2.14 or right to approve any
amendment or waiver of any provision of this Agreement or any Note, or any consent to any departure
by the Company or any other Borrower therefrom, except to the extent that such amendment, waiver or
consent would reduce the principal of, or interest on, any Notes or any fees or other amounts
payable hereunder, in each case to the extent subject to such participation, or postpone any date
fixed for any payment of principal of, or interest on, any Notes or any fees or other amounts
payable hereunder or reduce or limit the obligations of the Company under Section 7.01 or release
or otherwise limit the Company’s liability with respect to its obligations under Article VII or
amend this Section 9.07(e) in any manner adverse to such participant, in each case to the extent
subject to such participation.

          (f) Each Lender may grant to a special purpose funding vehicle (an “SPC”) the option
to fund all or any part of any Advance that such Lender is obligated to fund under this Agreement
(and upon the exercise by such SPC of such option to fund, such Lender’s obligations with respect
to such Advance shall be deemed satisfied to the extent of any amounts funded by such SPC);
provided, however, that (i) such Lender’s obligations under this Agreement
(including, without limitation, its Commitment to the Borrowers hereunder) shall remain unchanged,
(ii) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations, (iii) each Borrower, the Agent 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, (iv) any such option granted to an SPC shall not constitute a commitment by such
SPC to fund any Advance, (v) neither the grant nor the exercise of such option to an SPC shall
increase the costs or expenses or otherwise increase or change the
obligations of any Borrower under this Agreement (including, without limitation, its
obligations under Section 2.14) and (vi) no SPC shall have any right to approve any amendment or
waiver of any provision of this Agreement or any Note, or any consent to any departure by any
Borrower therefrom, except to the extent that such amendment, waiver or consent would reduce the
principal of, or interest on, such Note or any fees or other amounts payable hereunder,

3-Year Credit Agreement

47

 

in each
case to the extent subject to such grant of funding option, or postpone any date fixed for any
payment of principal of, or interest on, such Note or any fees or other amounts payable hereunder,
in each case to the extent subject to such grant of funding option. Each party to this Agreement
hereby agrees that no SPC shall be liable for any indemnity or payment under this Agreement for
which a Lender would otherwise be liable. In furtherance of the foregoing, each party hereto
hereby agrees (which agreements shall survive the termination of this Agreement) that, prior to the
date that is one year and one day after the payment in full of all outstanding commercial paper or
other senior indebtedness of any SPC, it will not institute against, or join any other Person in
instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings under the laws of the United States or any State thereof.

          (g) Any Lender may, in connection with any assignment, participation or grant of funding
option or proposed assignment, participation or grant of funding option pursuant to this Section
9.07, disclose to the assignee, participant or SPC or proposed assignee, participant or SPC, any
information relating to any Borrower furnished to such Lender by or on behalf of such Borrower;
provided that, prior to any such disclosure, the assignee, participant or SPC or proposed
assignee, participant or SPC shall agree to preserve the confidentiality of any Borrower
Information relating to any Borrower received by it from such Lender.

          (h) Notwithstanding any other provision set forth in this Agreement, any Lender may at any
time create a security interest in all or any portion of its rights under this Agreement
(including, without limitation, the Advances owing to it and any Note or Notes held by it) in favor
of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the
Federal Reserve System.

          SECTION 9.08. Confidentiality. Neither the Agent nor any Lender may disclose to any
Person any confidential, proprietary or non-public information of the Company furnished to the
Agent or the Lenders by the Company (such information being referred to collectively herein as the
“Borrower Information”), except that each of the Agent and each of the Lenders may disclose
Borrower Information (i) to its and its Affiliates’ employees, officers, directors, agents and
advisors who need to know the Borrower Information in connection with this Agreement (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Borrower Information and instructed to keep such Borrower Information confidential
on substantially the same terms as provided herein), (ii) to the extent requested by any applicable
regulatory authority, (iii) to the extent required by applicable laws or regulations or by any
subpoena or similar legal process, (iv) to any other party to this Agreement, (v) to the extent
necessary in connection with the exercise of any remedies hereunder or any suit, action or
proceeding relating to this Agreement or the enforcement of rights hereunder, (vi) subject to an
agreement for the benefit of the Company containing provisions substantially the same as those of
this Section 9.08, to any assignee, participant, SPC, or prospective assignee, participant or SPC,
(vii) to the extent such Borrower Information (A) is or becomes generally available to the public
on a non-confidential basis other than as a result of a breach of this Section 9.08 by the Agent or
such Lender, or (B) is or becomes available to the Agent or such Lender on a nonconfidential basis
from a source other than the Company that, to the knowledge of the Agent or such Lender, is not in
violation of any confidentiality agreement with the Company and (viii) with the consent of the
Company. Notwithstanding anything herein to the contrary, the Agent and the Lenders may disclose
to any and all Persons, without limitation of any kind, the U.S. tax treatment and tax structure of
the transactions contemplated hereby and all materials of any kind (including opinions or other tax
analyses) that are provided to the Agent or the Lenders relating to such U.S. tax treatment and tax
structure.

          SECTION 9.09. Designated Subsidiaries. (a) Designation. The Company may at
any time, and from time to time, by delivery to the Agent of a Designation Agreement duly executed
by the Company and the respective Subsidiary and substantially in the form of Exhibit E hereto,
designate such Subsidiary as a “Designated Subsidiary” for purposes of this Agreement and such
Subsidiary shall thereupon become a “Designated Subsidiary” for purposes of this Agreement and, as
such, shall have all of the rights and obligations of a Borrower hereunder. The Agent shall
promptly notify each Lender of each such designation by the Company and the identity of the
respective Subsidiary.

          (b) Termination. Upon the payment and performance in full of all of the indebtedness,
liabilities and obligations under this Agreement of any Designated Subsidiary then, so long as at
the time no Notice of Borrowing in respect of such Designated Subsidiary is outstanding, such
Subsidiary’s status as a “Designated Subsidiary” shall terminate upon notice to such effect from
the Agent to the Lenders (which notice the Agent shall

3-Year Credit Agreement

48

 

give promptly, and only upon its receipt of
a request therefor from the Company). Thereafter, the Lenders shall be under no further obligation
to make any Advance hereunder to such Designated Subsidiary.

          SECTION 9.10. Governing Law. This Agreement and the Notes shall be governed by, and
construed in accordance with, the laws of the State of New York.

          SECTION 9.11. Execution in Counterparts. This Agreement may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when
so executed shall be deemed to be an original and all of which taken together shall constitute one
and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement
by facsimile shall be effective as delivery of a manually executed counterpart of this Agreement.

          SECTION 9.12. Judgment. (a) If for the purposes of obtaining judgment in any court
it is necessary to convert a sum due hereunder in Dollars 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 Agent could purchase Dollars with
such other currency at Citibank’s principal office in London at 11:00 A.M. (London time) on the
Business Day preceding that on which final judgment is given.

          (b) If for the purposes of obtaining judgment in any court it is necessary to convert a sum
due hereunder in a Committed Currency or Committed L/C Currency into Dollars, the parties 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 Agent could purchase such Committed Currency
or Committed L/C Currency with Dollars at Citibank’s principal office in London at 11:00 A.M.
(London time) on the Business Day preceding that on which final judgment is given.

          (c) The obligation of the Company and each other Borrower in respect of any sum due from it in
any currency (the “Primary Currency”) to any Lender or the Agent hereunder shall,
notwithstanding any judgment in any other currency, be discharged only to the extent that on the
Business Day following receipt by such Lender or the Agent (as the case may be), of any sum
adjudged to be so due in such other currency, such Lender or the Agent (as the case may be) may in
accordance with normal banking procedures purchase the applicable Primary Currency with such other
currency; if the amount of the applicable Primary Currency so purchased is less than such sum due
to such Lender or the Agent (as the case may be) in the applicable Primary Currency, the Company
and each other Borrower agrees, as a separate obligation and notwithstanding any such judgment, to
indemnify such Lender or the Agent (as the case may be) against such loss, and if the amount of the
applicable Primary Currency so purchased exceeds such sum due to any Lender or the Agent (as the
case may be) in the applicable Primary Currency, such Lender or the Agent (as the case may be)
agrees to remit to the Company or such other Borrower such excess.

          SECTION 9.13. Jurisdiction, Etc. (a) Each of the parties hereto hereby irrevocably
and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any
New York State court or federal court of the United States of America sitting in New York City, and
any appellate court from any thereof, in any action or proceeding arising out of or relating to
this Agreement or the Notes, if any, 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 any such New York State court or, to the
extent permitted by law, in such federal court. The Company and each other Borrower hereby further
irrevocably consent to the service of process in any action or proceeding in such courts by the
mailing thereof by any parties hereto by registered or certified mail, postage prepaid, to the
Company at its address specified pursuant to Section 9.02. Each of the parties hereto agrees that
a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this
Agreement shall affect any right that
any party may otherwise have to bring any action or proceeding relating to this Agreement or
any Notes in the courts of any jurisdiction.

          (b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection that 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
Notes in any New York State or federal

3-Year Credit Agreement

49

 

court. 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.

          SECTION 9.14. Substitution of Currency. If a change in any Committed Currency or
Committed L/C Currency occurs pursuant to any applicable law, rule or regulation of any
governmental, monetary or multi-national authority, this Agreement (including, without limitation,
the definitions of Eurocurrency Rate) will be amended to the extent determined by the Agent (acting
reasonably and in consultation with the Company) to be necessary to reflect the change in currency
and to put the Lenders and the Company in the same position, so far as possible, that they would
have been in if no change in such Committed Currency or Committed L/C Currency had occurred.

          SECTION 9.15. No Liability Regarding Letters of Credit. None of the Agent, the
Lenders nor any Issuing Bank, nor any of their Affiliates, or the respective directors, officers,
employees, agents and advisors of such Person or such Affiliate, 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, 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 applicable Issuing Bank; provided that the foregoing shall not be construed
to excuse any Issuing Bank from liability to the applicable Borrower to the extent of any direct
damages (as opposed to consequential damages, claims in respect of which are hereby waived by the
Borrowers to the extent permitted by applicable law) suffered by such Borrower that are caused by
such Issuing Bank’s failure to exercise care when determining whether drafts and other documents
presented under a Letter of Credit comply with the terms thereof or any failure to honor a Letter
of Credit where such Issuing Bank is, under applicable law, required to honor it. The parties
hereto expressly agree that, as long as the Issuing Bank has not acted with gross negligence or
willful misconduct, such Issuing Bank shall be deemed to have exercised care in each such
determination. In furtherance of the foregoing and without limiting the generality thereof, the
parties agree that, with respect to documents presented which appear on their face to be in
substantial compliance with the terms of a Letter of Credit, an Issuing Bank may, in its sole
discretion, either accept and make payment upon such documents without responsibility for further
investigation 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.

          SECTION 9.16. Patriot Act Notification. Each Lender and the Agent (for itself and
not on behalf of any Lender) hereby notifies the Company and each other Borrower that pursuant to
the requirements of Section 326 of the USA Patriot Act (Title III of Pub.L. 107-56 (signed into law
October 26, 2001)) and the promulgated regulations thereto (the “Patriot Act”), it is
required to obtain, verify and record information that identifies each Borrower, which information
includes the name and address of each Borrower and other information that will allow such Lender or
the Agent, as applicable, to identify each Borrower in accordance with the Patriot Act. Each
Borrower shall, and shall cause each of their Subsidiaries to, provide, to the extent commercially
reasonable, such information and take such actions as are reasonably requested by the Agent or any
Lenders in order to assist the Agent and the Lenders in maintaining compliance with the Patriot
Act.

3-Year Credit Agreement

50

 

          SECTION 9.17. Waiver of Jury Trial. Each of the Company, each other Borrower,
the Agent and the Lenders hereby irrevocably waives all right to trial by jury in any action,
proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or
relating to this Agreement or any Notes or the actions of the Agent or any Lender in the
negotiation, administration, performance or enforcement thereof.

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

	 	 	 	 	 
	 	THE INTERPUBLIC GROUP OF

COMPANIES, INC.

 	 
	 
	 	By:  	 	 
	 	 	Title:  Senior Vice President and Treasurer 	 
	 	 	 	 
	 
	 	CITIBANK, N.A.,

     as Agent

 	 
	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	Swing Line Bank

 	 

Swing Line Commitment

$5,000,000

	 	 	 	 	 
	 	CITIBANK, N.A.

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

$5,000,000 Total of the Swing Line Commitments

	 	 	 	 	 
	 	Initial Issuing Banks

 	 

Letter of Credit Commitment

$200,000,000

	 	 	 	 	 
	 	CITIBANK, N.A.

 	 
	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	JPMORGAN CHASE BANK, N.A. (solely with respect

to Letters of Credit listed on Schedule 2.01(c))

 	 
	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	KEYBANK NATIONAL ASSOCIATION

(solely with respect to Letters of Credit listed on

Schedule 2.01(c))

 	 
	 
	 	By:  	
 	 
	 	 	Title: 	 

3-Year Credit Agreement

51

 

	 	 	 	 	 
	 	 	 	 
	 

$200,000,000 Total of the Letter of Credit Commitments

	 	 	 	 	 
	 	Initial Lenders

 	 
	 	
 	 
	 	 	 
	 	 	 

Revolving Credit Commitment

$80,357,143

	 	 	 	 	 
	 	CITIBANK, N.A.

 	 
	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$73,928,571 	JPMORGAN CHASE BANK, N.A.

 	 
	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$25,714,286 	KEYBANK NATIONAL ASSOCIATION

 	 
	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$56,250,000 	LLOYDS TSB BANK PLC

 	 
	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	 	 
	 
	 	By:  	
 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$70,714,286 	HSBC BANK USA, NATIONAL ASSOCIATION

 	 
	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

 3-Year Credit Agreement

52

 

	 	 	 	 	 
	$16,071,429 	ING BANK

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$9,642,857 	ROYAL BANK OF CANADA

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$61,071,429 	UBS LOAN FINANCE LLC

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$40,178,571 	SUNTRUST BANK

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$16,071,429 	CALYON NEW YORK BRANCH

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Title: 	 
	 	 	 	 
	 
	$450,000,000  Total of the Revolving Credit Commitments

 	 
	 	 	 
	 	 	 
	 	 	 
	 

3-Year Credit Agreement

53

 

SCHEDULE I

LIST OF APPLICABLE LENDING OFFICES

 

	 	 	 	 	 
	Name of Initial Lender	 	Domestic Lending Office	 	Eurocurrency Lending Office
	 
	 	 	 	 
	Citibank, N.A.

	 	Two Penns Way, Suite 200
	 	Two Penns Way, Suite 200
	 

	 	New Castle, DE 19720
	 	New Castle, DE 19720
	 

	 	Attn: Heather Puchalski
	 	Attn: Heather Puchalski
	 

	 	T: 302 894-6021
	 	T: 302 894-6021
	 

	 	F: 212 994-0961
	 	F: 212 994-0961
	 
	 	 	 	 
	JPMorgan Chase Bank, N.A.

	 	1411 Broadway, 5th Floor
	 	1411 Broadway, 5th Floor
	 

	 	New York, NY 10018
	 	New York, NY 10018
	 

	 	Attn: Chris Bisram
	 	Attn: Chris Bisram
	 

	 	T: 212 391-6083
	 	T: 212 391-6083
	 

	 	F: 212 391-6091
	 	F: 212 391-6091
	 
	 	 	 	 
	KeyBank National Association

	 	127 Public Square
	 	127 Public Square
	 

	 	Cleveland, OH 94111
	 	Cleveland, OH 94111
	 

	 	Attn: Francis Lutz
	 	Attn: Francis Lutz
	 

	 	T: 216 689-9968
	 	T: 216 689-9968
	 

	 	F: 216689-0511
	 	F: 216689-0511
	 
	 	 	 	 
	Lloyds TSB Bank plc

	 	Lloyds TSB Bank plc
	 	Lloyds TSB Bank plc
	 

	 	1251 Avenue of the Americas
	 	1251 Avenue of the Americas
	 

	 	39th Floor
	 	39th Floor
	 

	 	New York, NY 10020
	 	New York, NY 10020
	 

	 	Attn: Patricia Kilian
	 	Attn: Patricia Kilian
	 

	 	T: 212 930-8914
	 	T: 212 930-8914
	 

	 	F: 212 930-5098
	 	F: 212 930-5098
	 
	 	 	 	 
	HSBC Bank USA, National

Association

	 	1 HSBC Center

Buffalo, NY 14203
	 	1 HSBC Center

Buffalo, NY 14203
	 

	 	Attn: Nancy Lomas/Donna Riley
	 	Attn: Nancy Lomas/Donna Riley
	 

	 	T: 716 841-7179/4178
	 	T: 716 841-7179/4178
	 

	 	F: 716 841-0269
	 	F: 716 841-0269
	 
	 	 	 	 
	ING Bank

	 	1325 Avenue of the Americas
	 	1325 Avenue of the Americas
	 

	 	10th Floor
	 	10th Floor
	 

	 	New York, NY 10019
	 	New York, NY 10019
	 

	 	Attn: Eileen DiLorenzo
	 	Attn: Eileen DiLorenzo
	 

	 	T: 646 424-8232
	 	T: 646 424-8232
	 

	 	F: 646 424-8256
	 	F: 646 424-8256
	 
	 	 	 	 
	Royal Bank of Canada

	 	Royal Bank of Canada
	 	Royal Bank of Canada
	 

	 	One Liberty Plaza, 4th Floor
	 	One Liberty Plaza, 4th Floor
	 

	 	New York, NY 10006-1404
	 	New York, NY 10006-1404
	 

	 	Attn: Manager, Loans Administration
	 	Attn: Manager, Loans Administration
	 

	 	T: 212 428-6369
	 	T: 212 428-6369
	 

	 	F: 212 428-2372
	 	F: 212 428-2372
	 

	 	With a copy to:
	 	With a copy to:
	 

	 	Attn: Nigel Delph/Barton Lund
	 	Attn: Nigel Delph/Barton Lund
	 

	 	T: 212 428-6249/6509
	 	T: 212 428-6249/6509
	 

	 	F: 212 428-2319
	 	F: 212 428-2319
	 
	 	 	 	 

     3-Year Credit Agreement

 

 

	 	 	 	 	 
	Name of Initial Lender	 	Domestic Lending Office	 	Eurocurrency Lending Office
	 
	 	 	 	 
	UBS Loan Finance LLC

	 	677 Washington Boulevard, 6th
Floor
	 	677 Washington Boulevard, 6th Floor
	 

	 	Stamford, CT 06901
	 	Stamford, CT 06901
	 

	 	Attention: Denise Conzo
	 	Attention: Denise Conzo
	 

	 	T: 203 719-3853
	 	T: 203 719-3853
	 

	 	F: 203 719-3888
	 	F: 203 719-3888
	 
	 	 	 	 
	SunTrust Bank

	 	Mail Code 1928
	 	Mail Code 1928
	 

	 	303 Peachtree Street, 10th Floor
	 	303 Peachtree Street, 10th Floor
	 

	 	Atlanta, GA 30308
	 	Atlanta, GA 30308
	 

	 	Attn: Heidi Khambatta
	 	Attn: Heidi Khambatta
	 

	 	T: 404 827-6957
	 	T: 404 827-6957
	 

	 	F: 404 658-4905
	 	F: 404 658-4905
	 

	 	With a copy to:
	 	With a copy to:
	 

	 	LaWanda Griffeth
	 	LaWanda Griffeth
	 

	 	Mail Code 1928
	 	Mail Code 1928
	 

	 	303 Peachtree Street, 10th Floor
	 	303 Peachtree Street, 10th Floor
	 

	 	Atlanta, GA 30308
	 	Atlanta, GA 30308
	 

	 	T: 404 230-5413
	 	T: 404 230-5413
	 

	 	F: 404 575-2730
	 	F: 404 575-2730
	 
	 	 	 	 
	Calyon New York Branch

	 	1301 Avenue of the Americas
	 	1301 Avenue of the Americas
	 

	 	New York, NY 10019
	 	New York, NY 10019
	 

	 	Attn: Marie-Lyrvold Bosse Doleyres
	 	Attn: Marie-Lyrvold Bosse Doleyres
	 

	 	T: 212 261-7164
	 	T: 212 261-7164
	 

	 	F: 212 261-7696
	 	F: 212 261-7696

3-Year Credit Agreement

2

 

SCHEDULE 2.01(C)

EXISTING LETTERS OF CREDIT

 

	 	 	 	 	 	 	 	 	 
	Issuing Bank	 	Beneficiary	 	L/C Number	 	Expiration	 	Total Amount
	 
	 	 	 	 	 	 	 	 
	JPMorgan Chase Bank

	 	TV Eye Limited, et al.
	 	T-238779
	 	6/26/04
	 	£70,000,000
	 
	 	 	 	 	 	 	 	 
	JPMorgan Chase Bank

	 	Atlantic Mutual

Companies
	 	T-222830
	 	2/28/05
	 	US$1,100,000
	 
	 	 	 	 	 	 	 	 
	JPMorgan Chase Bank

	 	Atlantic Mutual

Companies
	 	T-235678
	 	2/28/05
	 	US$1,100,000
	 
	 	 	 	 	 	 	 	 
	KeyBank National

Association

	 	W9/ONS Real Estate

Limited Partnership
	 	S308483
	 	3/31/05
	 	US$400,000
	 
	 	 	 	 	 	 	 	 
	KeyBank National

Association

	 	Frenkel Insurance Cos.
	 	S308220
	 	12/31/04
	 	US$1,976,600
	 
	 	 	 	 	 	 	 	 
	KeyBank National

Association

	 	American Protection

Insurance
	 	S308157
	 	12/31/04
	 	US$92,588

3-Year Credit Agreement

 

 

SCHEDULE 5.02(e)

ACQUISITIONS

None.

3-Year Credit Agreement

 

 

SCHEDULE 5.02(h)

SUBSIDIARY DEBT

(US$ 000’s)

	 	 	 	 	 
	Payable to Banks
	 	$	572.4	 
	Capitalized Leases
	 	 	398.7	 
	Mortgage Payable
	 	 	73.7	 
	Letters of Credit (Undrawn)
	 	 	11,088.7	 
	 
	 	 	 
	Total
	 	$	12,133.5	 
	 
	 	 	 

 

 

SCHEDULE 5.03(b)

TERMS OF SUBORDINATION

 

          1. Agreement to Subordinate. The Company agrees, and each holder (a “Holder”)
of the [Insert: Debt being subordinated] (the “Notes”) by accepting a Note agrees, that the
indebtedness evidenced by the Notes is subordinated in right of payment, to the extent and in the
manner provided herein, to the prior payment in full, in cash or cash equivalents of all Senior
Indebtedness1 (as defined below) and that the subordination is for the benefit of and
enforceable by the holders of such Senior Indebtedness. Only Senior Indebtedness shall rank senior
to the Notes in accordance with the provisions set forth herein. The Notes shall in all respects
rank pari passu with, or be senior to, all other Indebtedness of the Company.

          2. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution of the
assets of the Company to creditors upon a total or partial liquidation or dissolution of the
Company, in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating
to the Company or its property, an assignment by the Company for the benefit of its creditors or
the marshaling of the assets and liabilities of the Company:

          (1) the holders of Senior Indebtedness shall be entitled to receive payment in full
of all obligations due in respect of such Senior Indebtedness before any Holder of the
Notes shall be entitled to receive any payment of principal of, premium or interest on the
Notes; and

          (2) until such Senior Indebtedness is paid in full in cash or cash equivalents, any
distribution to which Holders would be entitled but for the subordination provision
contained herein shall be made to holders of such Senior Indebtedness as their interests
may appear;

except that Holders may receive (a) securities that are subordinated to the Senior Indebtedness on
terms substantially similar to the terms of subordination contained herein (the “Permitted
Junior Securities”) and (b) payments and other distributions made from any defeasance trust
created pursuant to [Insert reference to relevant defeasance provisions.]

          Section 3. Default on the Designated Senior Indebtedness of the Company. (a) The
Company may not pay the principal of, premium or interest on the Notes or make any deposit into any
defeasance trust account and may not repurchase, redeem or otherwise retire any Notes
(collectively, “pay the Notes”), other than payments and other distributions in the form of
Permitted Junior Securities or from any defeasance trust created pursuant to this Indenture if:

     (1) a payment default on the Designated Senior Indebtedness occurs and is
continuing beyond any applicable grace period; or

     (2) any other default occurs and is continuing on such Designated Senior
Indebtedness that permits the holders thereof to accelerate its maturity and the
[Insert name of Trustee under the indenture under which the Notes are issued] (the

 

			
	1	 	Senior Indebtedness and Designated Senior
Indebtedness will include all obligations of [the Company] now or hereafter
existing under or in respect of the 3-Year Credit Agreement, dated as of May
10, 2004, as amended and restated on September 27, 2005 among the Company, the
Agent and the Lenders party thereto (including, without limitation, any
extensions, modifications, substitutions, replacements, refinancings,
amendments or renewals of any or all of the foregoing obligations), whether
direct or indirect, absolute or contingent, and whether for principal,
interest, premiums, fees, indemnities, contract causes of action, costs,
expenses or otherwise (including all interest and expenses accruing after the
commencement of a proceeding under any Bankruptcy Law, whether or not
constituting an allowed claim in such proceeding). Senior Indebtedness will
include, and Designated Senior Indebtedness may include, all other existing
indebtedness for money borrowed of the Company.

3-Year Credit Agreement

 

 

     “Trustee”) receives a notice of that default (a “Payment Blockage
Notice”) from the Company or [Insert representative for holders of Designated
Senior Indebtedness].

          (b) Payments on the Notes may and shall be resumed:

     (1) in the case of a payment default, upon the date on which it is cured or
waived; and

     (2) in case of a Payment Blockage Notice relating to a nonpayment default, the
earlier of the date on which it is cured or waived or 179 days after the date on
which such Payment Blockage Notice is received, unless the maturity of the relevant
Designated Senior Indebtedness has been accelerated.

          (c) No new Payment Blockage Notice may be delivered unless and until:

     (1) 360 days have elapsed since the effectiveness of the immediately prior
Payment Blockage Notice; and

     (2) all scheduled payments of principal of and interest on the Notes that have
come due have been paid in full in cash.

          (d) No nonpayment default that existed or was continuing on the date of delivery of any
Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment
Blockage Notice unless that default shall have been cured or waived for a period of not less than
180 days.

          4. When Distribution Must Be Paid Over. If a distribution is made to Holders that
because of these subordination provisions should not have been made to them, the Holders who
receive the distribution shall hold it in trust for holders of the Senior Indebtedness and pay it
over to them (or their representative) as their interests may appear.

          5. Subrogation. After all Senior Indebtedness is paid in full in cash or cash
equivalents and until the Notes are paid in full in cash or cash equivalents, Holders shall be
subrogated to the rights of holders of the Senior Indebtedness to receive distributions applicable
to the Senior Indebtedness. A distribution made under these subordination provisions to holders of
such Senior Indebtedness which otherwise would have been made to Holders is not, as between the
Company and Holders, a payment by the Company on such Senior Indebtedness.

          6. Relative Rights. These subordination provisions define the relative rights of the
Holders and holders of Senior Indebtedness. Nothing in this Indenture shall:

     (1) impair, as between the Company and Holders, the obligation of the Company, which
is absolute and unconditional, to pay its obligations in respect of the Notes in accordance
with their terms; or

     (2) prevent the Trustee or any Holder from exercising its available remedies upon a
Default, subject to the rights of holders of Senior Indebtedness to receive distributions
otherwise payable to Holders as provided herein.

          7. Subordination May Not Be Impaired by the Company. No right of any holder of Senior
Indebtedness of the Company to enforce the subordination of the Indebtedness evidenced by the Notes
shall be impaired by any act or failure to act by the Company or by its failure to comply with this
[Indenture].

          8. Trust Moneys Not Subordinated. Notwithstanding anything contained herein to the
contrary, payments from money or the proceeds of U.S. Government Obligations held in trust under

3-Year Credit Agreement

2

 

[Insert reference to relevant defeasance provisions] by the Trustee for the payment of
principal of and interest on the Notes shall not be subordinated to the prior payment of any Senior
Indebtedness or subject to the restrictions set forth herein, and none of the Holders shall be
obligated to pay over any such amount to the Company or any holder of Senior Indebtedness or any
other creditor of the Company.

          9. Reliance by Holders of Senior Indebtedness on Subordination Provisions. Each
Holder by accepting a Note acknowledges and agrees that the foregoing subordination provisions are,
and are intended to be, an inducement and a consideration to each holder of any Senior
Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance
of the Notes, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness and
such holder of such Senior Indebtedness shall be deemed conclusively to have relied on such
subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior
Indebtedness.

3-Year Credit Agreement

3

 

EXHIBIT
A - FORM OF

NOTE

      

			
	U.S.$                     
	 	Dated:                     , 200_

          FOR VALUE RECEIVED, the undersigned, THE INTERPUBLIC GROUP OF COMPANIES, INC., a Delaware
corporation (the “Borrower”), HEREBY PROMISES TO PAY to the order of __________(the “Lender”) for the account of its Applicable Lending Office on
the Termination Date (each as defined in the Credit Agreement referred to below) the principal sum
of U.S.$[amount of the Lender’s Revolving Credit Commitment in figures] or, if less, the aggregate
principal amount of the Revolving Credit Advances and Swing Line Advances made by the Lender to the
Borrower pursuant to the 3-Year Credit Agreement dated as of May 10, 2004, amended and restated as
of September 27, 2005, among the Borrower, the Lender and certain other lenders parties thereto,
JPMorgan Chase Bank, N.A., as syndication agent, HSBC Bank USA, Lloyds TSB Bank plc and UBS AG,
Stamford Branch, as co-documentation agents, Citigroup Global Markets Inc., as lead arranger and
book manager, and Citibank, N.A. as Agent for the Lender and such other lenders (as amended or
modified from time to time, the “Credit Agreement”; the terms defined therein being used
herein as therein defined) outstanding on such date.

          The Borrower promises to pay interest on the unpaid principal amount of each Revolving Credit
Advance and each Swing Line Advance from the date of such Revolving Credit Advance or such Swing
Line Advance, as the case may be, until such principal amount is paid in full, at such interest
rates, and payable at such times, as are specified in the Credit Agreement.

          Both principal and interest in respect of each Advance (i) in Dollars are payable in lawful
money of the United States of America to the Agent at its account maintained at 399 Park Avenue,
New York, New York 10043, in same day funds and (ii) in any Committed Currency are payable in such
currency at the applicable Payment Office in same day funds. Each Advance owing to the Lender by
the Borrower pursuant to the Credit Agreement, and all payments made on account of principal
thereof, shall be recorded by the Lender and, prior to any transfer hereof, endorsed on the grid
attached hereto which is part of this Promissory Note.

          This Promissory Note is one of the Notes referred to in, and is entitled to the benefits of,
the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of
Revolving Credit Advances and Swing Line Advances by the Lender to the Borrower from time to time
in an aggregate amount not to exceed at any time outstanding the U.S. dollar amount first above
mentioned, the indebtedness of the Borrower resulting from each such Revolving Credit Advance and
Swing Line Advance being evidenced by this Promissory Note, (ii) contains provisions for
determining the Dollar Equivalent of Advances denominated in Committed Currencies and (iii)
contains provisions for acceleration of the maturity hereof upon the happening of certain stated
events and also for prepayments on account of principal hereof prior to the maturity hereof upon
the terms and conditions therein specified.

          This Promissory Note shall be governed by, and construed in accordance with, the laws of the
State of New York.

	 	 	 	 	 
	 	THE INTERPUBLIC GROUP OF

COMPANIES, INC.

 	 
	 	By  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

 3-Year Credit Agreement

 

 

ADVANCES AND PAYMENTS OF PRINCIPAL

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Amount of	 	 	 	 
	 	 	Amount of	 	Principal Paid	 	Unpaid Principal	 	Notation
	Date	 	Advance	 	or Prepaid	 	Balance	 	Made By
	 
	 	 	 	 	 	 	 	 

3-Year Credit Agreement

2

 

EXHIBIT
B - FORM OF

NOTICE OF BORROWING

Citibank, N.A., as Agent

for the Lenders parties

to the Credit Agreement

referred to below

Two Penns Way

New Castle, Delaware 19720

[Date]

          Attention: Bank Loan Syndications Department

Ladies and Gentlemen:

          The undersigned, [The Interpublic Group of Companies, Inc.][Name of Designated Subsidiary],
refers to the 3- Year Credit Agreement dated as of May 10, 2004, amended and restated as of
September 27, 2005 (as amended or modified from time to time, the “Credit Agreement”, the
terms defined therein being used herein as therein defined), among The Interpublic Group of
Companies, Inc., certain Lenders parties thereto, JPMorgan Chase Bank, N.A., as syndication agent,
HSBC Bank USA, Lloyds TSB Bank plc and UBS AG, Stamford Branch, as co-documentation agents,
Citigroup Global Markets Inc., as lead arranger and book manager, and Citibank, N.A., as Agent for
said Lenders, and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit
Agreement that the undersigned hereby requests a Borrowing under the Credit Agreement, and in that
connection sets forth below the information relating to such Borrowing (the “Proposed
Borrowing”) as required by Section 2.02(a) of the Credit Agreement:

     (i) The Business Day of the Proposed Borrowing is ______, 200_.

     (ii) The Type of Advances comprising the Proposed Borrowing is [Base Rate Advances]
[Eurocurrency Rate Advances].

     (iii) The aggregate amount of the Proposed Borrowing is [$______][for a
Revolving Credit Borrowing in a Committed Currency, list currency and amount of Revolving
Credit Borrowing].

     (iv) [The initial Interest Period for each Eurocurrency Rate Advance made as part of
the Proposed Borrowing is ___month[s].]

     (v) The undersigned hereby certifies that the following statements are true on the date
hereof, and will be true on the date of the Proposed Revolving Credit Borrowing:

     (A) the representations and warranties contained in Section 4.01 of the Credit
Agreement [and in the Designation Agreement of the undersigned] are correct, before and
after giving effect to the Proposed Borrowing and to the application of the proceeds
therefrom, as though made on and as of such date;

     (B) no event has occurred and is continuing, or would result from such Proposed
Borrowing or from the application of the proceeds therefrom, that constitutes a Default, and

3-Year Credit Agreement

 

 

          (C) the proceeds of the Proposed Borrowing will be used to fund known cash requirements of
the Company and its Consolidated Subsidiaries in the ordinary course of their respective
businesses.

	 	 	 	 	 
	 	Very truly yours,

[THE INTERPUBLIC GROUP OF

COMPANIES, INC.][DESIGNATED SUBSIDIARY]

 	 
	 	By  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

3-Year Credit Agreement

2

 

EXHIBIT
C - FORM OF

ASSIGNMENT AND ACCEPTANCE

          Reference is made to the 3-Year Credit Agreement dated as of May 10, 2004, amended and
restated as of September 27, 2005 (as amended or modified from time to time, the “Credit
Agreement”) among The Interpublic Group of Companies, Inc., a Delaware corporation (the
“Company”), the Lenders (as defined in the Credit Agreement), JPMorgan Chase Bank, N.A., as
syndication agent, HSBC Bank USA, Lloyds TSB Bank plc and UBS AG, Stamford Branch, as
co-documentation agents, Citigroup Global Markets Inc., as lead arranger and book manager, and
Citibank, N.A., as agent for the Lenders (the “Agent”). Terms defined in the Credit
Agreement and not defined herein are used herein with the same meaning.

          The “Assignor” and the “Assignee” referred to on Schedule 1 hereto agree as follows:

          1. The Assignor hereby sells and assigns to the Assignee, and the Assignee hereby purchases
and assumes from the Assignor, an interest in and to the Assignor’s rights and obligations under
the Credit Agreement as of the date hereof equal to the percentage interest specified on Schedule I
hereto of all outstanding rights and obligations under the Credit Agreement together with
participations in Letters of Credit held by the Assignor on the date hereof. After giving effect
to such sale and assignment, the amount of the Assignee’s Revolving Credit Commitment, and Letter
of Credit Commitment and the amount of the Advances owing to the Assignee will be as set forth on
Schedule 1 hereto.

          2. The Assignor (i) represents and warrants that it is the legal and beneficial owner of the
interest being assigned by it hereunder and that such interest is free and clear of any adverse
claim; (ii) makes no representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with the Credit Agreement or the
execution, legality, validity, enforceability, genuineness, sufficiency or value of, or the
perfection or priority of any lien or security interest created or purported to be created under or
in connection with, the Credit Agreement or any other instrument or document furnished pursuant
thereto; (iii) makes no representation or warranty and assumes no responsibility with respect to
the financial condition of the Company or the performance or observance by the Company of any of
its obligations under the Credit Agreement or any other instrument or document furnished pursuant
thereto; and (iv) attaches the Note, if any, held by the Assignor [and requests that the Agent
exchange such Note for a new Note payable to the order of [the Assignee in an amount equal to the
Revolving Credit Commitment assumed by the Assignee pursuant hereto or new Notes payable to the
order of the Assignee in an amount equal to the Revolving Credit Commitment assumed by the Assignee
pursuant hereto and] the Assignor in an amount equal to the Revolving Credit Commitment retained by
the Assignor under the Credit Agreement[, respectively,] as specified on Schedule 1 hereto].

          3. The Assignee (i) confirms that it has received a copy of the Credit Agreement, together
with copies of the financial statements referred to in Section 4.01(e) thereof and such other
documents and information as it has deemed appropriate to make its own credit analysis and decision
to enter into this Assignment and Acceptance; (ii) agrees that it will, independently and without
reliance upon the 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 Credit Agreement; (iii) confirms that it is an Eligible
Assignee; (iv) appoints and authorizes the Agent to take such action as agent on its behalf and to
exercise such powers and discretion under the Credit Agreement as are delegated to the Agent by the
terms thereof, together with such powers and discretion as are reasonably incidental thereto; (v)
agrees that it will perform in accordance with their terms all of the obligations that by the terms
of the Credit Agreement are required to be performed by it as a Lender; and (vi) attaches any U.S.
Internal Revenue Service forms required under Section 2.14 of the Credit Agreement.

          4. Following the execution of this Assignment and Acceptance, it will be delivered to the
Agent for acceptance and recording by the Agent. The effective date for this Assignment and
Acceptance (the

3-Year Credit Agreement

 

 

“Assignment Effective Date”) shall be the date of acceptance hereof by the Agent,
unless otherwise specified on Schedule 1 hereto.

          5. Upon such acceptance and recording by the Agent, as of the Assignment Effective Date, (i)
the Assignee shall be a party to the Credit Agreement and, to the extent provided in this
Assignment and Acceptance, have the rights and obligations of a Lender thereunder and (ii) the
Assignor shall, to the extent provided in this Assignment and Acceptance, relinquish its rights
(other than its rights under Sections 2.11, 2.14 and 9.04 of the Credit Agreement to the extent any
claim thereunder relates to an event arising prior to this Assignment and Acceptance) and be
released from its obligations under the Credit Agreement.

          6. Upon such acceptance and recording by the Agent, from and after the Assignment Effective
Date, the Agent shall make all payments under the Credit Agreement and the Notes in respect of the
interest assigned hereby (including, without limitation, all payments of principal, interest and
facility fees with respect thereto) to the Assignee. The Assignor and Assignee shall make all
appropriate adjustments in payments under the Credit Agreement and the Notes for periods prior to
the Assignment Effective Date directly between themselves.

          7. This Assignment and Acceptance shall be governed by, and construed in accordance with, the
laws of the State of New York.

          8. This Assignment and Acceptance may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of Schedule 1 to this Assignment and Acceptance by facsimile
shall be effective as delivery of a manually executed counterpart of this Assignment and
Acceptance.

          IN WITNESS WHEREOF, the Assignor and the Assignee have caused Schedule 1 to this Assignment
and Acceptance to be executed by their officers thereunto duly authorized as of the date specified
thereon.

3-Year Credit Agreement

2

 

Schedule 1

to

Assignment and Acceptance

	 	 	 	 	 
	Percentage interest assigned:
	 	 	—	%
	Assignee’s Revolving Credit Commitment:
	 	$	—	 
	Assignee’s Letter of Credit Commitment:
	 	$	—	 
	Aggregate outstanding principal amount of Advances assigned:
	 	$	—	 
	Principal amount of Note payable to Assignee:
	 	$	—	 
	Principal amount of Note payable to Assignor:
	 	$	—	 
	Assignment Effective Date*:_______________, 200_
	 	 	 	 

	 	 	 	 	 
	 	[NAME OF ASSIGNOR], as Assignor

 	 
	 
	 
	 
	 	By  	 	 
	 	 	Title: 	 
	 	 	Dated:  _______________, 200_ 	 
	 
	 	[NAME OF ASSIGNEE], as Assignee

 	 
	 
	 
	 
	 	By  	 	 
	 	 	Title: 	 
	 
	 
	 	 	Dated:  _______________, 200_

Domestic Lending Office:

                [Address]

Eurocurrency Lending Office:

                [Address] 	 
	 

 

		
	*	This date should be no earlier than five Business
Days after the delivery of this Assignment and Acceptance to the Agent.

3-Year Credit Agreement

3

 

Accepted
[and
Approved]**
this

___________________________ day of ___________________________, 200_

CITIBANK, N.A., as Agent

By___________________________

Title:

[Approved this___day

of ________________________, 200_

THE
INTERPUBLIC GROUP OF COMPANIES, INC.

By ________________________]*

 

		
	**	Required if the Assignee is an Eligible Assignee
solely by reason of clause (iii) of the definition of “Eligible Assignee”.
	 
	* 	Required if the Assignee is an Eligible Assignee
solely by reason of clause (iii) of the definition of “Eligible Assignee”.

3-Year Credit Agreement

4

 

EXHIBIT D-1 — FORM OF

OPINION OF CLEARY,

GOTTLIEB, STEEN &

HAMILTON

                    [Restatement Date]

The parties named as Lenders in

  the below-referenced Credit Agreement

Ladies and Gentlemen:

          We have acted as special counsel to The Interpublic Group of Companies, Inc., a Delaware
corporation (the “Company”), in connection with that certain 3-Year Credit Agreement dated
as of May 10, 2004, amended and restated as of September 27, 2005 (the “Credit Agreement”),
among the Company, the Lenders parties thereto, JPMorgan Chase Bank, N.A., as syndication agent,
HSBC Bank USA, Lloyds TSB Bank plc and UBS AG, Stamford Branch, as co-documentation agents,
Citigroup Global Markets Inc., as lead arranger and book manager, and Citibank, N.A., as Agent for
said Lenders. This opinion is furnished to you pursuant to Section 3.01(d)(iv) of the Credit
Agreement.

          In arriving at the opinions expressed below, we have reviewed the following documents:

	 	(1)	 	an executed copy of the Credit Agreement;
	 
	 	(2)	 	executed copies of the Notes (as defined in the Credit
Agreement), dated the date hereof, of the Company payable to the Lenders named
therein (the “Company Notes”); and
	 
	 	(3)	 	the other documents furnished by the Company pursuant to
Article III of the Credit Agreement.

In addition, we have reviewed the originals or copies certified or otherwise identified to our
satisfaction of all such corporate records of the Company and such other instruments and other
certificates of public officials, officers and representatives of the Company and such other
persons, and we have made such investigations of law, as we have deemed necessary as a basis for
the opinions expressed below.

          In rendering the opinions expressed below, we have assumed the authenticity of all documents
submitted to us as originals and the conformity to the originals of all documents submitted to us
as copies. In addition, we have assumed and have not verified the accuracy as to factual matters
of each document we have reviewed (including, without limitation, the accuracy of the
representations and warranties of the Company in the Credit Agreement).

          Based upon the foregoing and subject to the further assumptions and qualifications set forth
below, it is our opinion that:

     1. The Company has corporate power to enter into the Credit Agreement and the Company
Notes and to perform its obligations thereunder.

3-Year Credit Agreement

 

 

     2. The execution and delivery by the Company of the Credit Agreement and the Company
Notes have been duly authorized by all necessary corporate action of the Company.

     3. The performance by the Company of its obligations under the Credit Agreement and the
Company Notes (a) does not require any consent, approval, authorization, registration or
qualification of or with any governmental authority of the United States, the State of
Delaware or the State of New York and (b) does not result in a violation of any applicable
United States federal or New York State law, rule or regulation or the Delaware General
Corporation Law.

     4. The Credit Agreement is a valid, binding and enforceable agreement of the Company.

     5. The Company Notes, after giving effect to the initial borrowing by the Company under
the Credit Agreement, will be valid, binding and enforceable obligations of the Company.

          Insofar as the foregoing opinions relate to the validity, binding effect or enforceability of
any agreement or obligation of the Company, (a) we have assumed that each party to such agreement
or obligation has satisfied those legal requirements that are applicable to it to the extent
necessary to make such agreement or obligation enforceable against it (except that no such
assumption is made as to the Company regarding matters of the federal law of the United States of
America, the law of the State of New York or the General Corporation Law of the State of Delaware
that in our experience normally would be applicable to general business entities with respect to
such agreement or obligation) and (b) such opinions are subject to applicable bankruptcy,
insolvency and similar laws affecting creditors’ rights generally and to general principles of
equity.

          We express no opinion as to the applicability or effect of the laws of any jurisdiction other
than the State of New York wherein any Lender may be located or wherein enforcement of the Credit
Agreement or the Notes may be sought that may limit the rates of interest which may be charged or
collected.

          We express no opinion as to (a) Section 2.15 of the Credit Agreement insofar as it provides
that any Lender purchasing a participation from another Lender pursuant thereto may exercise
set-off or similar rights with respect to such participation or (b) Section 9.12 of the Credit
Agreement.

          We have assumed that any assignments made by or among the Lenders of their rights and
obligations under the Credit Agreement will not contravene New York Judiciary Law Section 489
(which makes it a criminal offense to take an assignment of a debt obligation with the intent of
and for the purpose of bringing an action or proceeding thereon).

          We note that the designations in Section 9.13(a) of the Credit Agreement are (notwithstanding
the waiver in Section 9.13(b) of the Credit Agreement) subject to the power of such federal court
to transfer actions pursuant to 28 U.S.C. §1404(a) or to dismiss such actions or proceedings on the
grounds that such a federal court is an inconvenient forum for such action or proceeding.

          With respect to the first sentence of Section 9.13(a) of the Credit Agreement, we express no
opinion as to the subject matter jurisdiction of any United States federal court to adjudicate any
action relating to the Credit Agreement where jurisdiction based on diversity of citizenship under
28 U.S.C. §1332 does not exist.

          The opinion expressed in paragraph 3 above relates only to those laws, rules and regulations
that, in our experience, are normally applicable to general business entities with respect to
performance of transactions of the type referred to in the Credit Agreement.

          The foregoing opinions are limited to the law of the State of New York, the General
Corporation Law of the State of Delaware and the federal law of the United States, but we express
no opinion as to any state securities or Blue Sky laws or United States federal securities laws.

3-Year Credit Agreement

2

 

          We are furnishing this opinion letter to you solely for your benefit in connection with the
Credit Agreement. This opinion letter is not to be relied on or furnished to any other person or
used, circulated, quoted or otherwise referred to for any other purpose. Notwithstanding the
foregoing, a copy of this opinion letter may be furnished to, and relied upon by, your successors
and a permitted transferee who becomes a party to the Credit Agreement as a Lender thereunder, and
you or any such successor or transferee may show this opinion to any governmental authority
pursuant to requirements of applicable law or regulations. The opinions expressed herein are
rendered on and as of the date hereof, and we assume no obligation to advise you or any such
transferee or governmental authority or any other person, or to make any investigations, as to any
legal developments or factual matters arising subsequent to the date hereof that might affect the
opinions expressed herein.

	 	 	 	 	 
	 	Very truly yours,

CLEARY, GOTTLIEB, STEEN & HAMILTON

 	 
	 	By:  	 	 
	 	 	Andrea G. Podolsky, a Partner 	 
	 	 	 	 
	 

3-Year Credit Agreement

3

 

EXHIBIT D-2 — FORM OF

OPINION OF IN-HOUSE

COUNSEL OF THE COMPANY

                    [Restatement Date]

To each of the Lenders parties

  to the 3-Year Credit Agreement dated as of May 10, 2004,

  amended and restated as of September 27, 2005,

  among The Interpublic Group of Companies, Inc.,

  said Lenders and Citibank, N.A.,

  as Agent for said Lenders, and

  to Citibank, N.A., as Agent

3-Year Credit Agreement

Ladies and Gentlemen:

          This opinion is furnished to you pursuant to Section 3.01(d)(iv) of the 3-Year Credit
Agreement dated as of May 10, 2004, amended and restated as of September 27, 2005 (the “Credit
Agreement”), among The Interpublic Group of Companies, Inc. (the “Company”), the
Lenders parties thereto, JPMorgan Chase Bank, N.A., as syndication agent, HSBC Bank USA, Lloyds TSB
Bank plc and UBS AG, Stamford Branch, as co-documentation agents, Citigroup Global Markets Inc., as
lead arranger and book manager, and Citibank, N.A., as Agent for said Lenders. Terms defined in
the Credit Agreement are used herein as therein defined.

          I have acted as General Counsel for the Company in connection with the preparation, execution
and delivery of the Credit Agreement.

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

     (1) An executed copy of the Credit Agreement.

     (2) The documents furnished by the Company pursuant to Article III of the Credit
Agreement.

     (3) A copy of the Restated Certificate of Incorporation of the Company and all
amendments thereto (the “Charter”).

     (4) A copy of the by-laws of the Company and all amendments thereto (the
“By-laws”).

     (5) A certificate of the Secretary of State of Delaware, dated ___, 2005,
attesting to the continued corporate existence and good standing of the Company in that
State.

          In addition, I have examined the originals, or copies certified or otherwise identified to my
satisfaction, of such other corporate records of the Company, certificates of public officials and
of officers of the Company and such other persons as I have deemed necessary as a basis for the
opinions expressed below.

3-Year Credit Agreement

 

 

          In rendering the opinions expressed below, I have assumed the authenticity of all documents
submitted to me as originals and the conformity to the originals of all documents submitted to me
as copies. In addition, I have assumed and have not verified the accuracy as to factual matters of
each document I have reviewed (including, without limitation, the accuracy of the representations
and warranties of the Company in the Credit Agreement).

          Based upon the foregoing and subject to the further assumptions and qualifications set forth
below, it is my opinion that:

     1. The Company is a corporation validly existing and in good standing under the laws of
the State of Delaware.

     2. The execution, delivery and performance by the Company of the Credit Agreement and
the Notes to be delivered by it, and the consummation of the transactions contemplated
thereby, are within the Company’s corporate powers, have been duly authorized by all
necessary corporate action, and do not contravene (i) the Charter or the By-laws or (ii) any
material contractual or legal restriction known to me contained in any material document to
which the Company is a party or by which it is bound. The Credit Agreement and the Notes
have been duly executed and delivered on behalf of the Company.

     3. To the best of my knowledge, no authorization, approval or other action by, and no
notice to or filing with, any third party is required for the execution, delivery and
performance by the Company of the Credit Agreement and the Notes.

     4. To the best of my knowledge, there are no pending or overtly threatened actions or
proceedings against the Company or any of its Consolidated Subsidiaries before any court,
governmental agency or arbitrator that purport to affect the validity, binding effect or
enforceability of the Credit Agreement or any of the Notes or the consummation of the
transactions contemplated thereby or, except as disclosed in the Company’s reports filed
with the Securities and Exchange Commission prior to the Restatement Date, that are likely
to have a materially adverse effect upon the financial condition or operations of the
Company and its Consolidated Subsidiaries taken as a whole.

          With regard to clause (ii) of paragraph 2 above, I express no opinion as to whether the
deposit of cash into the L/C Cash Deposit Account would be permissible under the applicable lien
covenants (all of which permit the Company to create liens in an amount based on its consolidated
net worth) at the time such cash is provided.

          The foregoing opinions are limited to the law of the State of New York, the General
Corporation Law of the State of Delaware and the Federal law of the United States.

          I am furnishing this opinion letter to you solely for your benefit in connection with the
Credit Agreement. This opinion letter is not to be used, circulated, quoted or otherwise referred
to for any other purpose. Notwithstanding the foregoing, a copy of this opinion letter may be
furnished to, and relied upon by, your successors and a permitted transferee who becomes a party to
the Credit Agreement as a Lender thereunder, and you or any such successor or transferee may show
this opinion to any governmental authority pursuant to requirements of applicable law or
regulations. The opinions expressed herein are, however, rendered on and as of the date hereof,
and I assume no obligation to advise you or any such transferee or governmental authority or any
other person, or to make any investigations, as to any legal developments or factual matters
arising subsequent to the date hereof that might affect the opinions expressed herein.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	  	 	 
	 	 	Nicholas J. Camera, General Counsel 	 
	 	 	 	 
	 

3-Year Credit Agreement

2

 

EXHIBIT E — FORM OF

DESIGNATION AGREEMENT

[DATE]

To each of the Lenders
  parties
to the Credit Agreement
  (as
defined below) and to Citibank, N.A.
  as
Agent for such Lenders

Ladies and Gentlemen:

          Reference is made to the 3-Year Credit Agreement dated as of May 10, 2004, amended and
restated as of September 27, 2005, among The Interpublic Group of Companies, Inc. (the
“Company”), certain other borrowers parties thereto, the Lenders parties thereto, JPMorgan
Chase Bank, N.A., as syndication agent, HSBC Bank USA, Lloyds TSB Bank plc and UBS AG, Stamford
Branch, as co-documentation agents, Citigroup Global Markets Inc., as lead arranger and book
manager, and Citibank, N.A., as Agent for said Lenders (the “Credit Agreement”). Terms
used herein and defined in the Credit Agreement shall have the respective meanings ascribed to such
terms in the Credit Agreement.

          Please be advised that the Company hereby designates its undersigned Subsidiary, ____________
(“Designated Subsidiary”), as a “Designated Subsidiary” under and for all purposes of the
Credit Agreement.

          The Designated Subsidiary, in consideration of each Lender’s agreement to extend credit to it
under and on the terms and conditions set forth in the Credit Agreement, does hereby assume each of
the obligations imposed upon a “Designated Subsidiary” and a “Borrower” under the Credit Agreement
and agrees to be bound by the terms and conditions of the Credit Agreement. In furtherance of the
foregoing, the Designated Subsidiary hereby represents and warrants to each Lender as follows:

     (a) The Designated Subsidiary is a corporation duly organized, validly existing and in
good standing under the laws of ____________.

     (b) The execution, delivery and performance by the Designated Subsidiary of this
Designation Agreement, the Credit Agreement and the Notes to be delivered by it are within
the Designated Subsidiary’s corporate powers, have been duly authorized by all necessary
corporate action and do not contravene (i) the Designated Subsidiary’s charter or by-laws or
(ii) any law, rule or regulation applicable to the Designated Subsidiary or (iii) any
material contractual or legal restriction binding on the Designated Subsidiary. The
Designation Agreement and the Notes delivered by it have been duly executed and delivered on
behalf of the Designated Subsidiary.

     (c) No authorization or approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body is required for the due execution, delivery
and performance by the Designated Subsidiary of this Designation Agreement, the Credit
Agreement or the Notes to be delivered by it.

     (d) This Designation Agreement is, and the Notes to be delivered by the Designated
Subsidiary when delivered will be, legal, valid and binding obligations of the Designated
Subsidiary enforceable against the Designated Subsidiary in accordance with their respective
terms.

3-Year Credit Agreement

 

 

     (e) There is no pending or, to the knowledge of the Designated Subsidiary , threatened
action or proceeding affecting the Designated Subsidiary or any of its Subsidiaries before
any court, governmental agency or arbitrator which purports to affect the legality, validity
or enforceability of this Designation Agreement, the Credit Agreement or any Note of the
Designated Subsidiary.

     This Designation Agreement shall be governed by, and construed in accordance with, the
laws of the State of New York.

	 	 	 	 	 
	 	Very truly yours,

THE INTERPUBLIC GROUP OF COMPANIES, INC.

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[THE DESIGNATED SUBSIDIARY]

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

3-Year Credit Agreement

2EX-10.III.A.82

 

Exhibit 10(iii)(A)(82)

SUPPLEMENTAL AGREEMENT

     SUPPLEMENTAL AGREEMENT made as of January 31, 2005 between THE INTERPUBLIC GROUP OF COMPANIES,
INC., a Delaware corporation (“Interpublic”) and
BRIAN J. BROOKS (“Executive”).

W I T N E S S E T H:

     WHEREAS, Interpublic and Executive are parties to a Confidential Separation Agreement and
General Release made as of February 27, 2004 (hereinafter
referred to as the “Agreement”); and

WHEREAS, Interpublic and Executive desire to amend the Agreement;

     NOW, THEREFORE, in consideration of the mutual promises herein and in the Agreement set forth,
the parties hereto, intending to be legally bound, agree as follows:

     1. Paragraph 3(d) of the Agreement is hereby amended, effective as of February 27, 2005
to read in its entirety as follows:

     “During the Consulting Period (as defined in the Agreement), Executive shall provide
certain executive recruiting services to Interpublic and its subsidiaries.

     (i) During the Consulting Period, Executive shall receive an annual fixed fee
of Eight Hundred Twenty-Five Thousand Dollars ($825,000), payable in equal monthly
installments. Except as set forth below, there will be no calculation of or
reconciliation to commissions.

     (ii) Executive will devote sixty percent (60%) of his working time to providing
recruiting services to McCann Worldgroup (“McCann”) and forty percent (40%) of his
working time to providing recruiting and database

 

 

management services to Interpublic and its subsidiaries, other than McCann. It
being understood that positions for which Executive’s services will be requested
will be not less than an annual base salary of Two Hundred Fifty Thousand Dollars
($250,000). As part of his services, Executive will develop and maintain a
comprehensive worldwide recruitment data-base to be owned and utilized by
Interpublic. During the Consulting Period, Executive shall report to the Chief
Human Resources Officer of Interpublic and the Chief Executive Officer of McCann.

     (iii) Interpublic will provide Executive with office space and the services of
his three (3) current staff members. Out-of-pocket expenses will be charged to and
paid by the particular entity for which Executive is providing services.

     (iv) In the event Executive provides recruiting services to Interpublic
agencies (other than McCann) which result in a successful placement, an amount equal
to between ten percent (10%) and twenty percent (20%) of the first year’s total cash
compensation of such individual (“placement fee”) will be credited to a bonus pool
on Executive’s behalf. (The agreed amount will be re-charged by Interpublic to the
agency for which the placement was made, it being understood that the specific
commission amount will be between ten percent (10%) and twenty percent (20%), and
will be mutually agreed between Executive and the applicable agency.) Within thirty
(30) days of the end of the Consulting Period, Executive will be paid the aggregate
amount of placement fees credited to the pool.

     (v) Not less than sixty (60) days prior to February 27, 2006, Executive

 

 

and Interpublic will agree (which agreement shall be set forth in a writing) on
whether to continue their relationship beyond such date.

     (vi) Executive will be deemed to be a consultant to Interpublic and will be
provided with an appropriate 1099 at the end of each calendar year during which
Executive is providing services.”

     Except as hereinabove amended, the Agreement shall continue in full force and effect.

This Supplemental Agreement shall be governed by the laws of the State of New York, applicable
to contracts made and fully to be performed therein.

	 	 	 	 	 
	 	THE INTERPUBLIC GROUP OF

COMPANIES, INC.

 	 
	 	By:  	/s/ Timothy Sompolski
 	 
	 	 	Timothy Sompolski 	 
	 	 	Executive Vice President

Chief Human Resources Officer 	 
	 
	 	McCANN WORLDGROUP

 	 
	 	By:  	     /s/ Marcio Moreira
 	 
	 	 	Marcio Moreira 	 
	 	 	Vice Chairman, Global Professional
Management 	 
	 
	 	/s/ Brian J. Brooks
 	 
	 	Brian J. Brooks

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}]]