Document:

Exhibit 10.2

 

$207,000,000

INTERIM CREDIT AND GUARANTEE AGREEMENT

among

WEBSENSE, INC. and

WEBSENSE INTERNATIONAL LIMITED,

as Borrowers,

The Several Lenders

from Time to Time Parties Hereto,

MORGAN STANLEY SENIOR FUNDING, INC., 

as Syndication Agent,

BANK OF AMERICA, N.A.,

as Documentation Agent,

and

MORGAN STANLEY SENIOR FUNDING, INC.,

as Interim Administrative Agent

Dated as of April 26, 2007

 

 

 

MORGAN STANLEY SENIOR FUNDING, INC.,

as Sole Lead Arranger and Sole Bookrunner

TABLE OF CONTENTS

	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1.

  	
   

  	
  DEFINITIONS

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.1

  	
   

  	
  Defined Terms

  	
   

  	
  1

  
	
  1.2

  	
   

  	
  Other Definitional Provisions

  	
   

  	
  30

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 2.

  	
   

  	
  AMOUNT AND TERMS OF COMMITMENTS

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.1

  	
   

  	
  Commitments

  	
   

  	
  31

  
	
  2.2

  	
   

  	
  Procedure for Term Loan Borrowing

  	
   

  	
  32

  
	
  2.3

  	
   

  	
  Repayment of Term Loans

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 3.

  	
   

  	
  GENERAL PROVISIONS APPLICABLE TO TERM LOANS

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.1

  	
   

  	
  Optional Prepayments

  	
   

  	
  32

  
	
  3.2

  	
   

  	
  Mandatory Prepayments and Commitment Reductions

  	
   

  	
  32

  
	
  3.3

  	
   

  	
  Conversion and Continuation Options

  	
   

  	
  33

  
	
  3.4

  	
   

  	
  Limitations on Eurodollar Tranches

  	
   

  	
  34

  
	
  3.5

  	
   

  	
  Interest Rates and Payment Dates

  	
   

  	
  34

  
	
  3.6

  	
   

  	
  Computation of Interest and Fees

  	
   

  	
  35

  
	
  3.7

  	
   

  	
  Inability to Determine Interest Rate

  	
   

  	
  35

  
	
  3.8

  	
   

  	
  Pro Rata Treatment and Payments

  	
   

  	
  36

  
	
  3.9

  	
   

  	
  Requirements of Law

  	
   

  	
  37

  
	
  3.10

  	
   

  	
  Taxes

  	
   

  	
  38

  
	
  3.11

  	
   

  	
  Indemnity

  	
   

  	
  40

  
	
  3.12

  	
   

  	
  Change of Lending Office

  	
   

  	
  41

  
	
  3.13

  	
   

  	
  Replacement of Lenders

  	
   

  	
  41

  
	
  3.14

  	
   

  	
  Evidence of Debt

  	
   

  	
  42

  
	
  3.15

  	
   

  	
  Illegality

  	
   

  	
  42

  
	
  3.16

  	
   

  	
  Relationship Among Borrowers

  	
   

  	
  43

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 4.

  	
   

  	
  REPRESENTATIONS AND WARRANTIES

  	
   

  	
  43

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.1

  	
   

  	
  Financial Condition

  	
   

  	
  43

  
	
  4.2

  	
   

  	
  No Change

  	
   

  	
  44

  
	
  4.3

  	
   

  	
  Corporate Existence; Compliance with Law

  	
   

  	
  44

  
	
  4.4

  	
   

  	
  Power; Authorization; Enforceable Obligations

  	
   

  	
  44

  
	
  4.5

  	
   

  	
  No Legal Bar

  	
   

  	
  45

  
	
  4.6

  	
   

  	
  Litigation

  	
   

  	
  45

  
	
  4.7

  	
   

  	
  No Default

  	
   

  	
  45

  
	
  4.8

  	
   

  	
  Ownership of Property; Liens

  	
   

  	
  45

  
	
  4.9

  	
   

  	
  Intellectual Property

  	
   

  	
  46

  
	
  4.10

  	
   

  	
  Taxes

  	
   

  	
  46

  
	
  4.11

  	
   

  	
  Federal Regulations

  	
   

  	
  46

  
	
  4.12

  	
   

  	
  Labor Matters

  	
   

  	
  46

  
	
  4.13

  	
   

  	
  ERISA

  	
   

  	
  46

  

 

 i
 

 

	
  4.14

  	
   

  	
  Investment Company Act; Other Regulations

  	
   

  	
  47

  
	
  4.15

  	
   

  	
  Subsidiaries

  	
   

  	
  47

  
	
  4.16

  	
   

  	
  Use of Proceeds

  	
   

  	
  47

  
	
  4.17

  	
   

  	
  Environmental Matters

  	
   

  	
  47

  
	
  4.18

  	
   

  	
  Accuracy of Information, etc.

  	
   

  	
  48

  
	
  4.19

  	
   

  	
  Security Documents

  	
   

  	
  49

  
	
  4.20

  	
   

  	
  Solvency

  	
   

  	
  49

  
	
  4.21

  	
   

  	
  Indebtedness

  	
   

  	
  49

  
	
  4.22

  	
   

  	
  Anti-Terrorism Laws

  	
   

  	
  49

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 5.

  	
   

  	
  CONDITIONS PRECEDENT

  	
   

  	
  50

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.1

  	
   

  	
  Effective Date

  	
   

  	
  50

  
	
  5.2

  	
   

  	
  Conditions to the Funding Date

  	
   

  	
  52

  
	
  5.3

  	
   

  	
  Each Credit Event

  	
   

  	
  54

  
	
  5.4

  	
   

  	
  Certain Funds

  	
   

  	
  54

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 6.

  	
   

  	
  AFFIRMATIVE COVENANTS

  	
   

  	
  56

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.1

  	
   

  	
  Financial Statements

  	
   

  	
  56

  
	
  6.2

  	
   

  	
  Certificates; Other Information

  	
   

  	
  57

  
	
  6.3

  	
   

  	
  Payment of Obligations

  	
   

  	
  58

  
	
  6.4

  	
   

  	
  Maintenance of Existence; Compliance

  	
   

  	
  58

  
	
  6.5

  	
   

  	
  Maintenance of Property; Insurance

  	
   

  	
  59

  
	
  6.6

  	
   

  	
  Inspection of Property; Books and Records;
  Discussions

  	
   

  	
  59

  
	
  6.7

  	
   

  	
  Notices

  	
   

  	
  59

  
	
  6.8

  	
   

  	
  Environmental Laws

  	
   

  	
  60

  
	
  6.9

  	
   

  	
  Interest Rate Protection; Hedging Requirements

  	
   

  	
  60

  
	
  6.10

  	
   

  	
  [Intentionally Deleted]

  	
   

  	
  60

  
	
  6.11

  	
   

  	
  Offer Conversion

  	
   

  	
  60

  
	
  6.12

  	
   

  	
  Conduct of the Scheme

  	
   

  	
  60

  
	
  6.13

  	
   

  	
  Conduct of the Offer

  	
   

  	
  62

  
	
  6.14

  	
   

  	
  Further Assurances

  	
   

  	
  64

  
	
  6.15

  	
   

  	
  Rated Credit Facility; Corporate Ratings

  	
   

  	
  64

  
	
  6.16

  	
   

  	
  Syndication

  	
   

  	
  64

  
	
  6.17

  	
   

  	
  Blocked Accounts; Escrow Accounts

  	
   

  	
  65

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 7.

  	
   

  	
  NEGATIVE COVENANTS

  	
   

  	
  65

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.1

  	
   

  	
  Financial Condition Covenants

  	
   

  	
  65

  
	
  7.2

  	
   

  	
  Indebtedness

  	
   

  	
  67

  
	
  7.3

  	
   

  	
  Liens

  	
   

  	
  69

  
	
  7.4

  	
   

  	
  Fundamental Changes

  	
   

  	
  71

  
	
  7.5

  	
   

  	
  Disposition of Property

  	
   

  	
  72

  
	
  7.6

  	
   

  	
  Restricted Payments

  	
   

  	
  73

  
	
  7.7

  	
   

  	
  Capital Expenditures

  	
   

  	
  74

  
	
  7.8

  	
   

  	
  Investments

  	
   

  	
  74

  
	
  7.9

  	
   

  	
  Optional Payments and Modifications of Certain Debt
  Instruments and Agreements

  	
   

  	
  76

  
	
  7.10

  	
   

  	
  Transactions with Affiliates

  	
   

  	
  77

  

 

 ii
 

 

	
  7.11

  	
   

  	
  [Intentionally Omitted]

  	
   

  	
  77

  
	
  7.12

  	
   

  	
  Hedge Agreements

  	
   

  	
  77

  
	
  7.13

  	
   

  	
  Changes in Fiscal Periods

  	
   

  	
  77

  
	
  7.14

  	
   

  	
  Negative Pledge Clauses

  	
   

  	
  77

  
	
  7.15

  	
   

  	
  Clauses Restricting Subsidiary Distributions

  	
   

  	
  78

  
	
  7.16

  	
   

  	
  Lines of Business

  	
   

  	
  78

  
	
  7.17

  	
   

  	
  Amendment to Scheme

  	
   

  	
  78

  
	
  7.18

  	
   

  	
  Amendments to Offer

  	
   

  	
  79

  
	
  7.19

  	
   

  	
  Blocked Accounts

  	
   

  	
  80

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 8.

  	
   

  	
  EVENTS OF DEFAULT

  	
   

  	
  80

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 9.

  	
   

  	
  THE AGENTS

  	
   

  	
  84

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.1

  	
   

  	
  Appointment

  	
   

  	
  84

  
	
  9.2

  	
   

  	
  Delegation of Duties

  	
   

  	
  84

  
	
  9.3

  	
   

  	
  Exculpatory Provisions

  	
   

  	
  84

  
	
  9.4

  	
   

  	
  Reliance by Agents

  	
   

  	
  84

  
	
  9.5

  	
   

  	
  Notice of Default

  	
   

  	
  85

  
	
  9.6

  	
   

  	
  Non Reliance on Agents and Other Lenders

  	
   

  	
  85

  
	
  9.7

  	
   

  	
  Indemnification

  	
   

  	
  86

  
	
  9.8

  	
   

  	
  Agent in Its Individual Capacity

  	
   

  	
  86

  
	
  9.9

  	
   

  	
  Successor Agents

  	
   

  	
  86

  
	
  9.10

  	
   

  	
  Agents Generally

  	
   

  	
  87

  
	
  9.11

  	
   

  	
  The Lead Arranger

  	
   

  	
  87

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 10.

  	
   

  	
  MISCELLANEOUS

  	
   

  	
  87

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.1

  	
   

  	
  Amendments and Waivers

  	
   

  	
  87

  
	
  10.2

  	
   

  	
  Notices

  	
   

  	
  89

  
	
  10.3

  	
   

  	
  No Waiver; Cumulative Remedies

  	
   

  	
  90

  
	
  10.4

  	
   

  	
  Survival of Representations and Warranties

  	
   

  	
  90

  
	
  10.5

  	
   

  	
  Payment of Expenses and Taxes

  	
   

  	
  91

  
	
  10.6

  	
   

  	
  Successors and Assigns; Participations and
  Assignments

  	
   

  	
  92

  
	
  10.7

  	
   

  	
  Adjustments; Set off

  	
   

  	
  96

  
	
  10.8

  	
   

  	
  Counterparts

  	
   

  	
  96

  
	
  10.9

  	
   

  	
  Severability

  	
   

  	
  97

  
	
  10.10

  	
   

  	
  Integration

  	
   

  	
  97

  
	
  10.11

  	
   

  	
  GOVERNING LAW

  	
   

  	
  97

  
	
  10.12

  	
   

  	
  Submission To Jurisdiction; Waivers

  	
   

  	
  97

  
	
  10.13

  	
   

  	
  Acknowledgments

  	
   

  	
  98

  
	
  10.14

  	
   

  	
  Release of Guarantees and Liens; Termination

  	
   

  	
  99

  
	
  10.15

  	
   

  	
  Confidentiality

  	
   

  	
  99

  
	
  10.16

  	
   

  	
  WAIVERS OF JURY TRIAL

  	
   

  	
  100

  
	
  10.17

  	
   

  	
  Patriot Act Notice

  	
   

  	
  100

  
	
  10.18

  	
   

  	
  Delivery of Addenda

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION 11.

  	
   

  	
  GUARANTEE

  	
   

  	
  100

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.1

  	
   

  	
  Guarantee

  	
   

  	
  100

  

 

 iii
 

 

 

	
  11.2

  	
   

  	
  Reimbursement, Contribution, Subrogation

  	
   

  	
  101

  
	
  11.3

  	
   

  	
  Amendments, etc. with respect to the Interim
  Obligations

  	
   

  	
  103

  
	
  11.4

  	
   

  	
  Guarantee Absolute and Unconditional

  	
   

  	
  103

  
	
  11.5

  	
   

  	
  Reinstatement

  	
   

  	
  104

  
	
  11.6

  	
   

  	
  Payments

  	
   

  	
  104

  
	
  11.7

  	
   

  	
  Application of Proceeds

  	
   

  	
  104

  

 

 iv
 

EXHIBITS:

	
  A

  	
   

  	
  Form of Addendum

  
	
  B

  	
   

  	
  Form of Assignment and Assumption

  
	
  C

  	
   

  	
  Form of Compliance Certificate

  
	
  D

  	
   

  	
  [Intentionally Deleted]

  
	
  E

  	
   

  	
  [Intentionally Deleted]

  
	
  F

  	
   

  	
  [Intentionally Deleted]

  
	
  G

  	
   

  	
  Form of Exemption Certificate

  
	
  H

  	
   

  	
  Form of Term Note

  
	
  I

  	
   

  	
  Form of Closing Certificate

  
	
  J-1

  	
   

  	
  Form of Legal Opinion of Cooley Godward Kronish LLP

  
	
  J-2

  	
   

  	
  Form of Legal Opinion of Arthur Cox

  
	
  K

  	
   

  	
  Form of Blocked Account Control Agreement

  
	
  L

  	
   

  	
  Form of Intercompany Note

  
	
  M

  	
   

  	
  [Intentionally Deleted]

  
	
  N

  	
   

  	
  Form of Escrow Agreement

  

 

 v

INTERIM CREDIT AND GUARANTEE AGREEMENT, dated as of April
26, 2007, among WEBSENSE, INC., a Delaware corporation (the “Company”), WEBSENSE INTERNATIONAL LIMITED, a private
limited liability company incorporated under the laws of Ireland with
registered number 355326, (the “Irish Borrower”), the several banks and
other financial institutions or entities from time to time parties to this
Agreement (the “Lenders”), MORGAN STANLEY SENIOR FUNDING, INC., as sole
lead arranger and sole bookrunner (in such capacity, the “Lead Arranger”), MORGAN STANLEY SENIOR FUNDING, INC., as
syndication agent (in such capacity, the “Syndication Agent”),
BANK OF AMERICA, N.A.., as documentation agent (in such capacity, the “Documentation Agent”), and MORGAN STANLEY SENIOR FUNDING, INC., as Interim
Administrative Agent (in such capacity, and together with its successors in
such capacity, the “Interim
Administrative Agent”).

WHEREAS, the Borrowers have requested that the Lenders
extend credit in the form of Term Loans on the Funding Date in an aggregate
principal amount not in excess of $207,000,000.

The Lenders are willing to extend such credit to the Borrowers
on the terms and subject to the conditions set forth herein.

The parties hereto hereby agree as follows:

SECTION 1.    DEFINITIONS

1.1           Defined Terms.  As used in this Agreement, the terms listed
in this Section 1.1 shall have the respective meanings set forth in this
Section 1.1.

“Acceptable Bank”:  (a) a bank or financial institution which has
a rating for its long-term unsecured and non credit-enhanced debt obligations
of A2 or higher by S&P, F2 or higher by Fitch Ratings Ltd or P2 or higher
by Moody’s or a comparable rating from an internationally recognized credit
rating agency or (b) any other bank or financial institution approved by the Interim
Administrative Agent.

“Acquired Person”:  as defined in Section 7.2(j).

“Acquisition”:  one or more transactions, whether pursuant to
the Scheme or an Offer (including without limitation arrangements under the
Compulsory Purchase Procedure, privately negotiated transactions or open market
purchases), pursuant to which the Company or one of its Subsidiaries acquires
any or all Constellation Shares or Capital Stock of Constellation or procures
the cancellation of any or all such Constellation Shares or Capital Stock of
Constellation or acquires or funds the exercise of any or all options over, or
rights in respect of,  such Constellation
Shares or Capital Stock of Constellation.

“Acquisition Agreement”:  an agreement between the Company, Bidco and
Constellation in respect of the Scheme.

“Acquisition Effective Date”: the date upon
which the Court Order is filed with the Registrar of Companies as required by Section
425 of the Companies Act 1985 (or, if applicable, Section 899 of the Companies
Act 2006).

“Addendum”:  an instrument, substantially in the form of
Exhibit A, by which a Lender becomes a party to this Agreement as of the
Effective Date.

“Affected Lender”:  as defined in Section 3.13.

“Affiliate”:  as to any Person, any other Person that,
directly or indirectly, is in control of, is controlled by, or is under common
control with, such Person.  For purposes
of this definition, “control” of a Person means the power, directly or
indirectly, either to (a) vote 10% or more of the securities having ordinary
voting power for the election of directors (or persons performing similar
functions) of such Person or (b) direct or cause the direction of the
management and policies of such Person, whether by contract or otherwise.

“Agents”:  the collective reference to the Syndication
Agent, the Documentation Agent, the Lead Arranger, and the Interim
Administrative Agent.

“Aggregate Exposure”:  with respect to any Lender at any time, an
amount equal to (a) until the Funding Date, the aggregate amount of such Lender’s
Commitments at such time and (b) thereafter, the aggregate then unpaid
principal amount of such Lender’s Term Loans.

“Aggregate Exposure Percentage”:  with
respect to any Lender at any time, the ratio (expressed as a percentage) of
such Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all
Lenders at such time.

“Agreement”:  this Interim Credit and Guarantee Agreement.

“Anti-Terrorism Laws”:  Executive Order No. 13224, the Patriot Act,
the laws comprising or implementing the Bank Secrecy Act and the law
administered by the United States Treasury Department’s Office of Foreign Asset
Control (each as from time to time in effect) and any similar laws relating to
terrorism.

“Applicable Margin”:  a per annum rate equal to 0.25% in the case
of Eurodollar Loans and 0% in the case of Base Rate Loans.

 2
 

“Approved Fund”:  with respect to any Lender, any Person (other
than a natural person) that is engaged in making, purchasing, holding or
otherwise investing in commercial loans, or similar extensions of credit in the
ordinary course and is administered, advised or managed by (a) such Lender, (b)
an Affiliate of such Lender, or (c) an entity or an Affiliate of an entity that
administers, advises or manages such Lender.

“Asset Sale”:  any Disposition of Property or series of
related Dispositions of Property (excluding any such Disposition permitted by
clause (a), (b), (c), (d), (e), (f), (g) or (h) of Section 7.5) that yields
gross proceeds to any Group Member (valued at the initial principal amount
thereof in the case of non-cash proceeds consisting of notes or other debt
securities and valued at fair market value in the case of other non-cash
proceeds) in excess of $2,000,000.

“Assignee”:  as defined in Section 10.6(b).

“Assignment and Assumption”:  an
Assignment and Assumption, substantially in the form of Exhibit B.

“Base Rate”:  a fluctuating interest rate per annum in
effect from time to time, which rate per annum shall at all times be equal to
the higher of (a) the rate of interest published by the Wall Street Journal,
from time to time, as the prime rate and (b) 1⁄2 of 1% per annum above the
Federal Funds Effective Rate.

“Base Rate Loans”:  Term Loans the rate of interest applicable to
which is based upon the Base Rate.

“Benefitted Lender”:  as defined in Section 10.7(a).

“Bidco”:  any Group Member (provided it is the Company
or a Wholly-Owned Subsidiary of the Company) which makes the Offer.

“Blocked Account Control Agreement”: the
Blocked Account Control Agreement to be executed substantially in the form of
Exhibit K, or otherwise in a form reasonably acceptable to the Interim
Administrative Agent.

“Blocked Accounts”: any deposit or securities
account or accounts (including any Escrow Account) established by the Company
or any of its Subsidiaries at the Interim Administrative Agent or an Affiliate
of the Interim Administrative Agent or the Documentation Agent for purposes of
depositing cash and Cash Equivalents as required by Section 6.17; provided
that with respect to any account owned by the Company or any Domestic
Subsidiary of the Company, the Company or such Subsidiary, the Interim
Administrative Agent and the bank

 3
 

maintaining such Blocked
Account shall have entered into a Blocked Account Control Agreement with
respect to such account.

“Blocked Person”:  as defined in Section 4.22(b).

“Board”:  the Board of Governors of the Federal Reserve
System of the United States (or any successor).

“Borrower”:  the Company and/or the Irish Borrower, as the
context may require.

“Borrower Credit Agreement Obligations”:  the collective reference to the unpaid
principal of and interest on the Term Loans under the Term Facility and all
other obligations and liabilities of the Borrowers to any Agent, Lender or
Indemnitee, whether direct or indirect, absolute or contingent, due or to
become due or now existing or hereafter incurred, which may arise under, out
of, or in connection with, this Agreement or the other Loan Documents, or any
other document made, delivered or given in connection therewith or pursuant
thereto, in each case whether on account of principal, interest, reimbursement
obligations, fees, indemnities, costs, expenses (including, without limitation,
attorney’s fees and legal expenses) or otherwise (including interest accruing
at the then applicable rate provided in this Agreement after the maturity of
the Term Loans under the Term Facility and interest accruing at the then
applicable rate provided in this Agreement after the commencement of any
bankruptcy case or insolvency, reorganization, liquidation or like proceeding
relating to the Borrowers, whether or not a claim for post-filing or
post-petition interest is allowed in such proceeding and all expense
reimbursement and indemnity obligations arising or incurred as provided in the
Loan Documents after the commencement of any such case or proceeding, whether
or not a claim for such obligations is allowed in such case or proceeding).

“Borrowing”:  Term Loans of the same Type, made, converted
or continued on the same date and, in the case of Eurodollar Loans, as to which
a single Interest Period is in effect.

“Business”:  as defined in Section 4.17(b).

“Business Day”:  a day other than a Saturday, Sunday or other
day on which commercial banks in New York City or London are authorized or required
by law to close, provided, that with respect to notices and
determinations in connection with, and payments of principal and interest on,
Eurodollar Loans, such day is also a day for trading by and between banks in
Dollar deposits in the interbank eurodollar market.

“Capital Expenditures”:  for any period, with respect to any Person,
the aggregate of all expenditures by such Person and its Subsidiaries for the
acquisition or leasing (pursuant to

 4
 

a capital lease) of fixed
or capital assets or additions to equipment (including replacements,
capitalized repairs and improvements during such period) that should be
capitalized under GAAP on a consolidated balance sheet of such Person and its
Subsidiaries.

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

“Capital Stock”:  any and all shares, interests, participations
or other equivalents (however designated) of capital stock of a corporation,
any and all equivalent ownership interests in a Person (other than a
corporation) and any and all warrants, rights or options to purchase any of the
foregoing.

“Cash Equivalents”:  (a) marketable direct obligations issued by,
or unconditionally guaranteed by, the United States Government or issued by any
agency thereof and backed by the full faith and credit of the United States, in
each case maturing within one year from the date of acquisition; (b)
certificates of deposit, time deposits, eurodollar time deposits or overnight
bank deposits having maturities of six months or less from the date of
acquisition issued by any Lender or by any commercial bank organized under the
laws of the United States or any state thereof having combined capital and
surplus of not less than $500,000,000; (c) commercial paper of an issuer rated
at least A-1 by S&P or P-1 by Moody’s,
or carrying an equivalent rating by a nationally recognized rating agency, if
both of the two named rating agencies cease publishing ratings of commercial
paper issuers generally, and maturing within six months from the date of
acquisition; (d) repurchase obligations of any Lender or of any commercial bank
satisfying the requirements of clause (b) of this definition, having a term of
not more than 30 days, with respect to securities issued or fully guaranteed or
insured by the United States government; (e) securities with maturities of one
year or less from the date of acquisition issued or fully guaranteed by any
state, commonwealth or territory of the United States, by any political
subdivision or taxing authority of any such state, commonwealth or territory or
by any foreign government, the securities of which state, commonwealth,
territory, political subdivision, taxing authority or foreign government (as
the case may be) are rated at least A by S&P or A by Moody’s; (f)
securities with maturities of six months or less from the date of acquisition
backed by standby letters of credit issued by any Lender or any commercial bank
satisfying the requirements of clause (b) of this definition; (g) any
investment in marketable debt obligations issued or guaranteed by the
government of the United Kingdom, any member state of the European Economic
Area or any Participating Member State or by an instrumentality or agency of
any of them having an equivalent credit rating, maturing within one year after
the relevant date of calculation and not convertible or exchangeable to any
other security; (h) any investment in marketable debt obligations issued or
guaranteed by the government of the United Kingdom, any member state of the
European Economic Area or any Participating Member State or by an
instrumentality or agency of any of them or by a person whose indebtedness is
rated not

 5
 

less than A by S&P or
A2 by Moody’s (or equivalent from an internationally recognized credit rating
agency) maturing within one year from the date of acquisition thereof; (i)
investments in commercial paper not convertible or exchangeable to any other
security (w) for which a recognized trading market exists, (x) issued by an
issuer incorporated in the United Kingdom, any member state of the European
Economic Area or any Participating Member State, (y) which matures within one
year after the relevant date of calculation and (z) which has a credit rating
of either A-1 or higher by S&P or Fitch Ratings Ltd or P-1 or higher by
Moody’s, or, if no rating is available in respect of the commercial paper, the
issuer of which has, in respect of its long-term unsecured and non-credit
enhanced debt obligations, an equivalent rating; (j) sterling bills of exchange
eligible for rediscount at the Bank of England and accepted by an Acceptable
Bank (or their dematerialised equivalent); (k) shares of money market mutual or
similar funds which invest exclusively in assets satisfying the requirements of
clauses (a) through (j) of this definition or money market funds that (i)
comply with the criteria set forth in Securities and Exchange Commission Rule
2a-7 under the Investment Company Act of 1940, as amended, (ii) are rated AAA
by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least
$5,000,000,000 or (l) such other marketable securities as are permitted
pursuant to the Company’s investment policy in effect on the Effective Date.

“Certain Funds Loan”:
any Term Loans utilized for

(a)           the
Acquisition; or

(b)           payment
of fees, costs and expenses in relation to the matters referred to in paragraph
(a) above including for the avoidance of doubt, fees, costs and expenses
payable pursuant to the Loan Documents and the other Transactions on the
Funding Date, each such utilization being a “Permitted
Purpose”.

“Certain Funds Loan Parties”: the Company and each Wholly Owned Subsidiary of
the Company (excluding, for the avoidance of doubt, any member of the
Constellation Group) that, as of the date of the most recently available
consolidated balance sheet of the Company, has assets equal to or greater than 5%
of the total assets of the Company and its Subsidiaries calculated (as of the
date of the most recently available consolidated balance sheet of the Company)
on a consolidated basis, taken as a whole, but excluding for such purposes the
Constellation Group.  The Certain Funds
Loan Parties as of the Effective Date are listed on Schedule 1.1 of the
Disclosure Letter.

“Certain Funds Period”:
the period beginning on the date of this Agreement and ending on (and
including) the earlier of:

(a) if a Scheme Press Release is issued and no Offer Conversion
occurs:  (i) fifteen months from the date
of the Scheme Press Release, (ii) the date on which the Scheme proposal is
rejected by either the shareholders of the Company or the Courts of England and

 6
 

Wales or is withdrawn
(other than a withdrawal in accordance with Section 6.11) or (iii) the date
which falls 15 days after the Acquisition Effective Date;

(b) if an Offer is made without any pre-conditions: (i)
the date which falls 7 months after the date of the Offer Press Release, (ii) the
date on which the Offer lapses, terminates or is withdrawn or (iii) fifteen
months from the Effective Date or

(c) if a pre-conditional Offer is made:  (i) the date which falls 7 months after the
date on which all the pre-conditions are deemed by the Company to have been
satisfied; (ii) the date on which the Offer lapses, terminates or is withdrawn
or (iii) fifteen months from the Effective Date.

“City Code”:
the City Code on Takeovers and Mergers.

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

“Collateral”:  all property of the Loan Parties, now owned
or hereafter acquired, upon which a Lien is purported to be created by any
Security Document.

“Commitment”:  as to any Lender, the obligation of such
Lender, if any, to make a Term Loan to the Borrower hereunder in a principal
amount not to exceed the amount set forth under the heading “Commitment” under
such Lender’s name on such Lender’s Addendum or in the Assignment and
Assumption pursuant to which such Lender becomes a party hereto, as the same
may be changed from time to time pursuant to the terms hereof.  The original aggregate amount of the
Commitments is $207,000,000.  As of the
Effective Date, Morgan Stanley Senior Funding, Inc. shall hold 80% of the
aggregate Commitments and Bank of America, N.A. shall hold 20% of the aggregate
Commitments.

“Commonly Controlled Entity”:  an entity,
whether or not incorporated, that is under common control with the Company
within the meaning of Section 4001 of ERISA or is part of a group that includes
the Company and that is treated as a single employer under Section 414 of the
Code.

“Company”:  as defined in the preamble to this Agreement.

“Compliance Certificate”:  a
certificate duly executed by a Responsible Officer substantially in the form of
Exhibit C.

 7
 

“Compulsory Purchase Notice”:  a notice
issued to a shareholder of Constellation by the Company or its Subsidiaries
pursuant to section 979 of the Companies Act 2006.

“Compulsory Purchase Procedure”:  the
procedure for buying out minority shareholders of Constellation pursuant to
section 979 of the Companies Act 2006.

“Conduit Lender”:  any special purpose entity organized and
administered by any Lender for the purpose of making Term Loans otherwise
required to be made by such Lender and designated by such Lender in a written
instrument, subject to the consent of the Interim Administrative Agent and the applicable
Borrower (which consent shall not be unreasonably withheld); provided,
that the designation by any Lender of a Conduit Lender shall not relieve the
designating Lender of any of its obligations to fund a Term Loan under this
Agreement if, for any reason, its Conduit Lender fails to fund any such Term
Loan, and the designating Lender (and not the Conduit Lender) shall have the
sole right and responsibility to deliver all consents and waivers required or
requested under this Agreement with respect to its Conduit Lender, and provided,
further, that no Conduit Lender shall (a) be entitled to receive any
greater amount pursuant to Section 3.9, 3.10, 3.11 or 10.5 than the designating
Lender would have been entitled to receive in respect of the extensions of
credit made by such Conduit Lender or (b) be deemed to have any Commitment.

“Confidential Information Memorandum”:  the
Confidential Information Memorandum to be dated not less than 30 days prior to
the Funding Date and furnished to the Lenders.

“Consolidated Current Assets”:  at any
date, all amounts (other than cash and Cash Equivalents) that would, in
conformity with GAAP, be set forth opposite the caption “total current assets”
(or any like caption) on a consolidated balance sheet of the Company and its
Subsidiaries at such date.

“Consolidated Current Liabilities”:  at any
date, all amounts that would, in conformity with GAAP, be set forth opposite
the caption “total current liabilities” (or any like caption) on a consolidated
balance sheet of the Company and its Subsidiaries at such date, but excluding (a)
the current portion of any Funded Debt of the Company and its Subsidiaries and
(b) without duplication of clause (a) above, all Indebtedness consisting of
Revolving Loans (as defined in the Senior Credit Agreement) or Swingline Loans
(as defined in the Senior Credit Agreement) to the extent otherwise included
therein.

“Consolidated EBITDA”:  for any period, Consolidated Net Income for
such period plus, without duplication and to the extent reflected as a
charge in the statement of such Consolidated Net Income for such period, the
sum of (a) income tax expense, (b) interest expense, amortization or writeoff
of debt discount and debt issuance costs and commissions, discounts and other
fees and charges associated with Indebtedness (including the Term Loans),

 8
 

(c) depreciation and
amortization expense, (d) amortization of intangibles (including, but not
limited to, goodwill) and organization costs, (e) any extraordinary charges or
losses determined in accordance with GAAP, (f) for the periods ending on or
before the date that is twelve months after the consummation of the Acquisition,
$30,000,000 in the aggregate of anticipated cost-savings to be realized from
the combination of the businesses of Constellation and the Company, (g) any
other non-cash charges, non-cash expenses or non-cash losses of the Company or
any of its Subsidiaries for such period (excluding any such charge, expense or
loss incurred in the ordinary course of business that constitutes an accrual of
or a reserve for cash charges for any future period) and (h) for the periods
ending on or before the date that is 24 months after the Funding Date, up to
$15,000,000 of restructuring related costs incurred in connection with the
Acquisition and not included in purchase accounting, provided, however,
that cash payments made in such period or in any future period in respect of
such non-cash charges, expenses or losses (excluding any such charge, expense
or loss incurred in the ordinary course of business that constitutes an accrual
of or a reserve for cash charges for any future period) shall be subtracted
from Consolidated Net Income in calculating Consolidated EBITDA in the period
when such payments are made, and minus, to the extent included in the statement
of such Consolidated Net Income for such period, the sum of (a) interest
income, (b) any extraordinary income or gains determined in accordance with
GAAP and (c) any other non-cash income (excluding any items that represent the
reversal of any accrual of, or cash reserve for, anticipated cash charges in
any prior period that are described in the parenthetical to clause (g) above),
all as determined on a consolidated basis. 
For the purposes of calculating Consolidated EBITDA for any period of
four consecutive fiscal quarters (each, a “Reference Period”)
pursuant to any determination of the Consolidated Leverage Ratio, (i) if at any
time during such Reference Period the Company or any Subsidiary shall have made
any Material Disposition, the Consolidated EBITDA for such Reference Period
shall be reduced by an amount equal to the Consolidated EBITDA (if positive)
attributable to the property that is the subject of such Material Disposition
for such Reference Period or increased by an amount equal to the Consolidated
EBITDA (if negative) attributable thereto for such Reference Period and (ii) if
during such Reference Period the Company or any Subsidiary shall have made a
Material Acquisition, Consolidated EBITDA for such Reference Period shall be
calculated after giving pro  forma effect thereto as if such
Material Acquisition occurred on the first day of such Reference Period.  As used in this definition, “Material Acquisition” means the Acquisition and any other acquisition of
property or series of related acquisitions of property that (a) constitutes
assets comprising all or substantially all of an operating unit of a business
or constitutes all or substantially all of the common stock of a Person and (b)
involves the payment of consideration by the Company and its Subsidiaries in
excess of $1,000,000; and “Material Disposition”
means any Disposition of property or series of related Dispositions of property
that yields gross proceeds to the Company or any of its Subsidiaries in excess
of $1,000,000 but shall not include a Rationalizing Constellation Disposition permitted
by Section 8.5.

“Consolidated Interest Coverage Ratio”:  for any
period, the ratio of (a) Consolidated EBITDA for such period to (b)
Consolidated Interest Expense for such period.

“Consolidated Interest Expense”:  for any
period, total cash interest expense (including that attributable to Capital
Lease Obligations) of the Company and its Subsidiaries for

 9
 

such period with respect
to all outstanding Indebtedness of the Company and its Subsidiaries (including
all commissions, discounts and other fees and charges owed with respect to
letters of credit and bankers’ acceptance financing and net costs under Hedge
Agreements in respect of interest rates to the extent such net costs are
allocable to such period in accordance with GAAP).

“Consolidated Leverage Ratio”:  at any
time, the ratio of (a) Consolidated Total Debt as of the last day of then most
recently completed fiscal quarter to (b) Consolidated EBITDA for the period of
four consecutive fiscal quarters ended on such last day.

“Consolidated Net Income”:  for any
period, the consolidated net income (or loss) of the Company and its
Subsidiaries, determined on a consolidated basis in accordance with GAAP plus,
without duplication, (i) non-cash compensation expenses arising from the
issuance of stock, options to purchase stock and stock appreciation rights to
the management of the Company and (ii) the amount of deferred revenue of
Constellation written off in connection with the Acquisition that would have
been recognized within the 12 quarters following the Acquisition if the
Acquisition had not occurred; provided that, to the extent otherwise
included therein, there shall be excluded (a) the income (or deficit) of any
Person accrued prior to the date it becomes a Subsidiary of the Company or is
merged into or consolidated with the Company or any of its Subsidiaries, (b)
the income (or deficit) of any Person (other than a Subsidiary of the Company)
in which the Company or any of its Subsidiaries has an ownership interest,
except to the extent that any such income is actually received by the Company
or such Subsidiary in the form of dividends or similar distributions and (c)
the undistributed earnings of any Subsidiary of the Company to the extent that
the declaration or payment of dividends or similar distributions by such
Subsidiary is not at the time permitted by the terms of any Contractual
Obligation (other than under any Loan Document), its Organizational Documents
or Requirement of Law applicable to such Subsidiary.

“Consolidated Total Debt”:  at any
date, the aggregate principal amount of all Indebtedness of the Company and its
Subsidiaries at such date, determined on a consolidated basis in accordance
with GAAP.

“Consolidated Working Capital”:  at any
date, the excess of Consolidated Current Assets on such date over
Consolidated Current Liabilities on such date.

“Constellation”:  means SurfControl PLC.

“Constellation Group”:  Constellation and its subsidiaries (provided
such subsidiaries were subsidiaries of Constellation at the time of the
Constellation Transaction).

“Constellation Shares”:  any shares in the capital of Constellation
allotted or issued or to be allotted or issued or rights in or over those
shares (including share options).

 10
 

“Constellation Transaction”:  a
transaction pursuant to which Constellation will become a Subsidiary of the Company
with effect from the Unconditional Date.

“Continuing Directors”:  the directors of the Company on the Funding
Date, after giving effect to the Acquisition and the other transactions
contemplated hereby, and each other director, if, in each case, such other
director’s nomination for election to the board of directors of the Company is
recommended by at least a majority of the then Continuing Directors.

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

“Corporate Family Rating”:  an opinion issued by Moody’s of a corporate
family’s ability to honor all of its financial obligations that is assigned to
a corporate family as if it had a single class of debt and a single
consolidated legal entity structure.

“Corporate Rating”:  an opinion issued by S&P of an obligor’s
overall financial capacity (its creditworthiness) to pay its financial
obligations.

“Courts”:  the courts of England and Wales.

“Court Meetings”:  the meetings of the classes of shareholders
of Constellation required to be held for the purposes of sanctioning the Scheme
under Section 425 of the Companies Act 1985 (or, if applicable, Section 899 of
the Companies Act 2006).

“Court Order”:  the order of the High Court of Justice in
England and Wales sanctioning the Scheme as required by Section 425 of the
Companies Act 1985 (or, if applicable, Section 899 of the Companies Act 2006).

“Default”:  any of the events specified in Section 8,
whether or not any requirement for the giving of notice, the lapse of time, or
both, has been satisfied.

“Defaulting Lender”:  any Lender that (a) has failed to fund any
portion of the Term Loans, (b) has otherwise failed to pay over to the Interim
Administrative Agent or any other Lender any other amount required to be paid
by it hereunder within one Business Day of the date when due, unless the
subject of a good faith dispute, or (c) has been deemed insolvent or become the
subject of a bankruptcy or insolvency proceeding.

 11
 

“Disclosure Letter”:  the
letter dated the Effective Date delivered to the Interim Administrative Agent
by the Company containing information with respect to the Company and its
Subsidiaries.

“Disposition”:  with respect to any Property, any sale,
lease, sale and leaseback, assignment, conveyance, transfer or other
disposition thereof.  The terms “Dispose” and “Disposed of”
shall have correlative meanings.

“Documentation Agent”:
 as defined in the preamble to this
Agreement.

“Dollars” and “$”:  dollars in
lawful currency of the United States.

“Domestic Subsidiary”:  any Subsidiary of the Company organized under
the laws of any jurisdiction within the United States.

“Draft Acquisition Agreement”: the document
delivered pursuant to Section 5.1(l).

“Earn-Out Obligations”:  those certain subordinated obligations of the
Company, the Irish Borrower or any Loan Party arising in connection with any
acquisition of assets or businesses permitted under Section 7.8 to the seller
of such assets or businesses and the payment of which is dependent on the
future earnings or performance of such assets or businesses and contained in
the agreement relating to such acquisition or in an employment agreement
delivered in connection therewith; provided, that all Earn-Out
Obligations will be in form reasonably satisfactory to the Interim
Administrative Agent as to (i) the subordination provisions thereof (or be
issued subject to a subordination agreement satisfactory to the Interim
Administrative Agent) and (ii) the provisions restricting any amendment or
modification thereof without the prior written consent of the Interim
Administrative Agent.

“ECF Percentage”:  50%; provided that, with respect to
each fiscal year of the Company ending on or after December 31, 2008, the ECF
Percentage shall be reduced to 25% if the Consolidated Leverage Ratio as of the
last day of such fiscal year is not greater than 1.25 to 1.00.

“Effective Date”:
the date on which the conditions specified in Section 5.1 are satisfied (or
waived in accordance with the terms of this Agreement).

“Environmental Laws”:  any and all foreign, Federal, state, local or
municipal laws, rules, orders, regulations, statutes, ordinances, codes,
decrees, requirements of any Governmental Authority or other Requirements of
Law (including common law) regulating,

 12
 

relating to or imposing
liability or standards of conduct concerning protection of human health or the
environment, as now or may at any time hereafter be in effect.

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

“Escrow Account”:  any blocked account established by the Company
or any of its Subsidiaries at the Interim Administrative Agent or an Affiliate
of the Interim Administrative Agent that is subject to the terms and conditions
of an Escrow Agreement.

“Escrow Agreement”:  an escrow agreement substantially in the form
of Exhibit N governing an Escrow Account which agreement shall be satisfactory
to the Interim Administrative Agent, in its sole discretion, in all respects
and shall specify, among other things, that cash deposited therein shall be
used solely to satisfy the terms of the Offer or Scheme and to fund a portion
the Acquisition consideration; provided that no Cash Equivalents shall
be deposited in, or credited to, any Escrow Account.

“Eurocurrency Reserve Requirements”:  for any
day as applied to a Eurodollar Loan, the aggregate (without duplication) of the
maximum rates (expressed as a decimal fraction) of reserve requirements in
effect on such day (including basic, supplemental, marginal and emergency
reserves under any regulations of the Board or other Governmental Authority
having jurisdiction with respect thereto) dealing with reserve requirements
prescribed for Eurocurrency funding (currently referred to as “Eurocurrency
Liabilities” in Regulation D of the Board) maintained by a member bank of the
Federal Reserve System.

“Eurodollar Base Rate”:  with respect to each day during each Interest
Period pertaining to a Eurodollar Loan, the rate per annum determined on the
basis of the rate for deposits in Dollars for a period equal to such Interest
Period commencing on the first day of such Interest Period appearing on Page
3750 of the Telerate screen as of 11:00 A.M., London time, two Business Days
prior to the beginning of such Interest Period. 
In the event that such rate does not appear on Page 3750 of the Telerate
screen (or otherwise on such screen), the “Eurodollar Base Rate” shall
be determined by reference to such other comparable publicly available service
for displaying eurodollar rates as may be selected by the Interim
Administrative Agent or, in the absence of such availability, by reference to
the rate at which the Interim Administrative Agent is offered Dollar deposits
at or about 11:00 A.M., New York City time, two Business Days prior to the
beginning of such Interest Period in the interbank eurodollar market where its
eurodollar and foreign currency and exchange operations are then being
conducted for delivery on the first day of such Interest Period for the number
of days comprised therein.

“Eurodollar Loans”:  Term Loans the rate of interest applicable to
which is based upon the Eurodollar Rate.

 13
 

“Eurodollar Rate”:  with
respect to each day during each Interest Period pertaining to a Eurodollar
Loan, a rate per annum determined for such day in accordance with the following
formula (rounded upward to the nearest 1/100th of 1%):

	
  

  	
  Eurodollar Base Rate

  	
   

  
	
   

  	
  1.00 - Eurocurrency Reserve Requirements

  	
   

  

 

“Eurodollar Tranche”:  the collective reference to Eurodollar Loans the
then current Interest Periods with respect to which begin on the same date and
end on the same later date (whether or not such Term Loans shall originally
have been made on the same day).

“Event of Default”:  any of the events specified in Section 8, provided
that any requirement for the giving of notice, the lapse of time, or both, has
been satisfied.

“Excess Cash Flow”:  for any fiscal year of the Company, the
excess, if any, of (a) the sum, without duplication, of (i) Consolidated Net
Income for such fiscal year, (ii) the amount of all non-cash charges (including
depreciation and amortization) deducted in arriving at such Consolidated Net
Income, (iii) decreases in Consolidated Working Capital for such fiscal year,
and (iv) the aggregate net amount of non cash loss on the Disposition of
Property by the Company and its Subsidiaries during such fiscal year (other
than sales of inventory in the ordinary course of business), to the extent
deducted in arriving at such Consolidated Net Income over (b) the sum, without
duplication, of (i) the amount of all non-cash credits included in arriving at
such Consolidated Net Income, (ii) the aggregate amount actually paid by the Company
and its Subsidiaries in cash during such fiscal year on account of Capital
Expenditures (excluding the principal amount of Indebtedness incurred to
finance such expenditures (but including repayments of any such Indebtedness
incurring during such period or any prior period to the extent that such repaid
amounts may not be reborrowed) and any such expenditures financed with the
proceeds of any Reinvestment Deferred Amount), (iii) the aggregate amount of
all prepayments of Revolving Loans (as defined in the Senior Credit Agreement)
and Swingline Loans (as defined in the Senior Credit Agreement) during such
fiscal year to the extent accompanying permanent optional reductions of the
Revolving Commitments (as defined in the Senior Credit Agreement) and all optional
prepayments of the Term Loans and the Senior Loans during such fiscal year,
(iv) the aggregate amount of all regularly scheduled principal payments of
Funded Debt (including the Term Loans) of the Company and its Subsidiaries made
during such fiscal year (other than in respect of any revolving credit facility
to the extent there is not an equivalent permanent reduction in commitments
thereunder), (v) increases in Consolidated Working Capital for such fiscal
year, and (vi) the aggregate net amount of non-cash gain on the Disposition of
Property by the Company and its Subsidiaries during such fiscal year (other
than sales of inventory in the ordinary course of business), to the extent
included in arriving at such Consolidated Net Income.

“Excess Cash Flow Application Date”:  as defined
in Section 3.2.

 14
 

“Excluded Foreign Subsidiary”: 
any Foreign Subsidiary in respect of which the guaranteeing by such
Subsidiary of the Borrower Credit Agreement Obligations, would, in the good
faith judgment of the Company, result in adverse tax consequences to the Company.

“Excluded Indebtedness”:  all Indebtedness permitted by Section 7.2.

“Federal Funds Effective Rate”:  for any
day, 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 on the next succeeding Business Day by the Federal Reserve Bank of
New York, or, if such rate is not so published for any day that is a Business
Day, the average of the quotations for the day of such transactions received by
the Reference Lender from three federal funds brokers of recognized standing
selected by it.

“Fee Letter”: that certain Fee Letter, dated as
of the date hereof, among the Company, Morgan Stanley Senior Funding, Inc. and
Banc of America Securities, LLC.

“Foreign Subsidiary”:  any Subsidiary of the Company that is not a
Domestic Subsidiary.

“Fund”:  any Person (other than a natural Person) that
is (or will be) engaged in making, purchasing, holding or otherwise investing
in commercial loans or similar extensions of credit in the ordinary course.

“Funded Debt”:  as to any Person, all Indebtedness of such
Person that matures more than one year from the date of its creation or matures
within one year from such date but is renewable or extendible, at the option of
such Person, to a date more than one year from such date or arises under a
revolving credit or similar agreement that obligates the lender or lenders to
extend credit during a period of more than one year from such date, including
all current maturities and current sinking fund payments in respect of such
Indebtedness whether or not required to be paid within one year from the date
of its creation and, in the case of the Borrower, Indebtedness in respect of
the Term Loans.

“Funding Date”:  the first Business Day on which the
conditions specified in Section 5.2 are satisfied (or waived in accordance with
the terms of this Agreement) and Term Loans are made hereunder.

“Funding Office”:  the office of the Interim Administrative
Agent specified in Section 10.2 or such other office as may be specified from
time to time by the Interim Administrative Agent as its funding office by
written notice to the Borrower and the Lenders.

 15
 

“GAAP”:  generally accepted accounting principles in
the United States as in effect from time to time.

“Governmental Authority”:  any nation
or government, any state or other political subdivision thereof, and any
agency, authority, instrumentality, regulatory body, court, central bank or
other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative functions of or pertaining to government.

“Governmental Authorization”:  all laws,
rules, regulations, authorizations, consents, decrees, permits, licenses,
waivers, privileges, approvals from and filings with all Governmental
Authorities necessary in connection with any Group Member’s business.

“Group Members”:  the collective reference to the Company and
its Subsidiaries.

“Guarantee Obligation”:  as to any Person (the “guaranteeing person”),
any obligation of (a) the guaranteeing person or (b) another Person (including
any bank under any letter of credit) to induce the creation of which the
guaranteeing person has issued a reimbursement, counterindemnity or similar
obligation, in either case guaranteeing or in effect guaranteeing any
Indebtedness, lease payments, dividends or other obligations (the “primary
obligations”) of any other third Person (the “primary obligor”) in
any manner, whether directly or indirectly, including any obligation of the
guaranteeing person, whether or not contingent, (i) to purchase any such
primary obligation or any property constituting direct or indirect security
therefor, (ii) to advance or supply funds (1) for the purchase or payment of
any such primary obligation or (2) to maintain working capital or equity
capital of the primary obligor or otherwise to maintain the net worth or
solvency of the primary obligor, (iii) to purchase property, securities or
services primarily for the purpose of assuring the owner of any such primary
obligation of the ability of the primary obligor to make payment of such
primary obligation or (iv) otherwise to assure or hold harmless the owner of
any such primary obligation against loss in respect thereof; provided, however,
that the term Guarantee Obligation shall not include endorsements of
instruments for deposit or collection in the ordinary course of business.  The amount of any Guarantee Obligation of any
guaranteeing person shall be deemed to be the lower of (a) an amount equal to
the stated or determinable amount of the primary obligation in respect of which
such Guarantee Obligation is made and (b) the maximum amount for which such
guaranteeing person may be liable pursuant to the terms of the instrument
embodying such Guarantee Obligation, unless such primary obligation and the
maximum amount for which such guaranteeing person may be liable are not stated
or determinable, in which case the amount of such Guarantee Obligation shall be
such guaranteeing person’s maximum reasonably anticipated liability in respect
thereof as determined by the Company in good faith.

“Guarantors”: 
each Subsidiary of the Company other than any Excluded Foreign
Subsidiary and, with respect to the Irish Borrower, the Company.

 16
 

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

“Immaterial Subsidiary”:  each Subsidiary of the Company now existing
or hereafter acquired or formed, and each successor thereto, (a) which accounts
for not more than 2.5% of (i) the consolidated gross revenues of the Company
and its Subsidiaries or (ii) the consolidated assets of the Company and its
Subsidiaries, in each case, as of the last day of the most recently completed
fiscal quarter as reflected on the financial statements for such quarter; and
(b) if the Subsidiaries that constitute Immaterial Subsidiaries pursuant to
clause (a) above account for, in the aggregate, more than 5% of such
consolidated gross revenues and more than 5% of the consolidated assets, each
as described in clause (a) above, then the term “Immaterial Subsidiary”
shall not include each such Subsidiary (starting with the Subsidiary that
accounts for the most consolidated gross revenues or consolidated assets and
then in descending order) necessary to account for at least 95% of the
consolidated gross revenues and ninety percent of the consolidated assets, each
as described in clause (a) above.

“Indebtedness”:  of any Person at any date, 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 current 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 indebtedness 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 Capital Lease
Obligations of such Person, (f) all obligations of such Person, contingent or
otherwise, as an account party or applicant under or in respect of acceptances,
letters of credit, surety bonds or similar arrangements, (g) the liquidation
value of all mandatorily redeemable preferred Capital Stock of such Person, (h)
all Guarantee Obligations of such Person in respect of obligations of the kind
referred to in clauses (a) through (g) above, (i) all obligations of the kind
referred to in clauses (a) through (h) above secured by (or for which the holder
of such obligation has an existing right, contingent or otherwise, to be
secured by) any Lien on property (including accounts and contract rights) owned
by such Person, whether or not such Person has assumed or become liable for the
payment of such obligation, and (j) for the purposes of Sections 7.2 and 8(e)
only, all obligations of such Person in respect of Hedge Agreements.  The Indebtedness of any Person shall include
the Indebtedness of any other entity (including any partnership in which such
Person is a general partner) to the extent such Person is liable therefor as a
result of such Person’s ownership interest in or other relationship with such
entity, except to the extent the terms of such Indebtedness expressly provide
that such Person is not liable therefor. 
For purposes of clause (j) above, the principal amount of Indebtedness
in respect of Hedge

 17
 

Agreements shall equal
the amount that would be payable (giving effect to netting) at such time if
such Hedge Agreement were terminated.

“Indemnified Liabilities”:  as defined
in Section 10.5.

“Indemnitee”:  as defined in Section 10.5.

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

“Insolvent”:  pertaining to a condition of Insolvency.

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

“Intercompany Note”:  the Subordinated Intercompany Note,
substantially in the form of Exhibit L.

“Interest Payment Date”:  (a) as to any Base Rate Loan , the last day
of each March, June, September and December to occur while such Term Loan is
outstanding and the final maturity date of such Term Loan, (b) as to any
Eurodollar Loan having an Interest Period of three months or less, the last day
of such Interest Period, (c) as to any Eurodollar Loan having an Interest
Period longer than three months, each day that is three months, or a whole
multiple thereof, after the first day of such Interest Period and the last day
of such Interest Period and (d) as to any Term Loan, the date of any repayment
or prepayment made in respect thereof.

“Interest Period”:  as to any Eurodollar Loan, (a) initially, the
period commencing on the Funding Date or conversion date, as the case may be,
with respect to such Eurodollar Loan and ending one week thereafter, as
selected by the applicable Borrower in its notice of borrowing or notice of
conversion, as the case may be, given with respect thereto; and (b) thereafter,
each period commencing on the last day of the next preceding Interest Period
applicable to such Eurodollar Loan and ending one, two, three or six or (if
available to all Lenders) twelve months thereafter, as selected by the Borrower
by irrevocable notice to the Interim Administrative Agent no later than 11:00
A.M., New York City time, on the date that is three Business Days prior to the
last day of the then current Interest Period with respect thereto; provided
that, all of the foregoing provisions relating to Interest Periods are subject
to the following:

 18
 

(i)            if any Interest Period would
otherwise end on a day that is not a Business Day, such Interest Period shall
be extended to the next succeeding Business Day unless the result of such
extension would be to carry such Interest Period into another calendar month in
which event such Interest Period shall end on the immediately preceding
Business Day;

(ii)           the Borrower may not select an
Interest Period that would extend beyond the date final payment is due on the
Term Loans;

(iii)          any Interest Period that begins on
the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest
Period) shall end on the last Business Day of a calendar month; and

(iv)          the Borrower shall select Interest
Periods so as not to require a payment or prepayment of any Eurodollar Loan during
an Interest Period for such Term Loan on any day other that the last day of an
Interest Period.

“Interim Administrative Agent”:  as defined
in the preamble to this Agreement.

“Interim Obligations”:  the collective reference to (i) the Borrower
Credit Agreement Obligations, (ii) all other obligations and liabilities of the
Borrower, whether direct or indirect, absolute or contingent, due or to become
due, or now existing or hereafter incurred, which may arise under, out of, or
in connection with, this Agreement (including, without limitation, all fees and
disbursements of counsel to the Lenders that are required to be paid by the
Borrower pursuant to the terms of this Agreement), and (iii) with respect to
any Guarantor, all obligations and liabilities of such Guarantor with respect
to the Term Facility and all other obligations and liabilities of the Guarantor
which may arise under or in connection with this Agreement (including Section
11) or any other Loan Document to which such Guarantor is a party, in each case
whether on account of guarantee obligations, reimbursement obligations, fees,
indemnities, costs, expenses (including, without limitation, attorney’s fees
and legal expenses) or otherwise (including all expense reimbursement and
indemnity obligations arising or incurred as provided in the Loan Documents
after the commencement of any bankruptcy case or insolvency, reorganization,
liquidation or like proceeding, whether or not a claim for such obligations is
allowed in such case or proceeding).

“Investments”:  as defined in Section 7.8.

“Irish Borrower”:  as defined in the preamble to this Agreement.

“Lead Arranger”:  as defined in the preamble to this Agreement.

 19
 

“Lenders”:  as defined in the preamble to this Agreement;
provided that unless the context otherwise requires, each reference
herein to the Lenders shall be deemed to include any Conduit Lender.

“Lien”:  any mortgage, pledge, hypothecation,
assignment, deposit arrangement, encumbrance, lien (statutory or other), charge
or other security interest or any preference, priority or other security
agreement or preferential arrangement of any kind or nature whatsoever
(including any conditional sale or other title retention agreement and any
capital lease having substantially the same economic effect as any of the
foregoing).

“Liquidity”:  the sum of (a) cash and Cash Equivalents held
by the Company and its Subsidiaries, plus (b) so long as the Company is able to
satisfy the conditions to borrowing set forth in clauses (a) and (b) of Section
6.3 of the Senior Credit Agreement, the Available Revolving Commitments (as
defined in the Senior Credit Agreement).

“Loan Documents”:  this Agreement, the Notes, the Security
Documents and the Fee Letter.

“Loan Parties”:  each Group Member that is a party to a Loan
Document.

“Major Event of Default”:  any Event
of Default arising under any of the following provisions (but only insofar as
relates to the Certain Funds Loan Parties):

(i)            Section 8 (Events of Default) clause
(a), provided that there shall be no Event of Default resulting from
non-payment by a Certain Funds Loan Party where that payment has been triggered solely by a demand under or acceleration of any Loan
Document resulting otherwise than from a Major Event of Default;

(ii)           Section 8 (Events of Default) clause
(b) by virtue of a breach of the representations set out in paragraph (a) of
Section 4.3 (Corporate Existence; Compliance with Law), Section 4.4 (Power;
Authorization; Enforceable Obligations); Section 4.5 (No Legal Bar) (but only to the extent a breach of Section
4.5 could reasonably be expected to have a Material Adverse Effect), Section 4.22 (Anti-terrorism) (to the
extent such breach is material and constitutes a willful failure by the Certain
Funds Loan Parties to comply with such requirements) or Section 4.14
(Investment Company Act; Other Regulations) (but only to the extent such Event
of Default arises under a breach of the representation set out in the first
sentence of such Section 4.14);

 20
 

(iii)          Section 8 (Events of Default) clause
(c) or clause (d) by virtue of a breach of the covenants set out in Section 6.12(a)
(Scheme Press Release) or (b) (Scheme Documents), 6.13(a) (Offer Press Release)
or (b) (Offer Document), Section 6.17 (Blocked Accounts; Escrow Accounts), Section
7.2 (Indebtedness), Section 7.3 (Liens), Section 7.4 (Fundamental Changes),
Section 7.5 (Disposition of Property), Section 7.8 (Investments), Section 7.17
(Amendments to Scheme), Section 7.18 (Amendments to Offer) or Section 7.19 (Blocked
Accounts), provided that, in each case, there shall be no Major Event of
Default resulting from a breach by any Certain Funds Loan Party of its
obligations to procure or not to procure or not to permit its Subsidiaries
(which are not Certain Funds Loan Parties) to take the actions referred to in
such Sections; and

(iv)          Section 8 (Events of Default) clause
(f).

“Material Adverse Effect”:  a material
adverse effect on (a) the business, assets, property, financial condition or
results of operations of the Company and its Subsidiaries taken as a whole, (b)
the validity or enforceability of this Agreement or any of the other Loan
Documents or the rights or remedies of the Agents or the Lenders hereunder or
thereunder or (c) the validity, perfection or priority of the Senior Collateral
Agent’s Liens upon a material portion of the Collateral.

“Materials of Environmental Concern”:  any
gasoline or petroleum (including crude oil or any fraction thereof) or
petroleum products or any hazardous or toxic substances, materials or wastes,
defined or regulated as such in or under any Environmental Law, including
asbestos, polychlorinated biphenyls and urea-formaldehyde insulation.

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

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

“Net Cash Proceeds”:  (a)  in
connection with any Asset Sale or any Recovery Event, the proceeds thereof in
the form of cash and Cash Equivalents (including any such proceeds received by
way of deferred payment of principal pursuant to a note or installment
receivable or purchase price adjustment receivable or by the Disposition of any
non-cash consideration received in connection therewith or otherwise, but only
as and when received), net of attorneys’ fees, accountants’ fees, investment banking
fees, amounts required to be applied to the repayment of Indebtedness secured
by a Lien expressly permitted hereunder on any asset that is the subject of such
Asset Sale or Recovery Event (other than any Lien pursuant to a Security
Document) and other customary fees and expenses actually incurred in connection
therewith and net of taxes paid or reasonably estimated to be payable as a
result thereof (after taking into

 21

account any available tax
credits or deductions and any tax sharing arrangements) and (b) in connection
with any issuance or sale of Capital Stock, any capital contribution or any
incurrence of Indebtedness, the cash proceeds received from such issuance, contribution
or incurrence, net of attorneys’ fees, investment banking fees, accountants’
fees, underwriting discounts and commissions and other customary fees and
expenses actually incurred in connection therewith.

“New Shares”: the new ordinary shares of nominal
value ten pence each in the capital of Constellation which are issued by
Constellation to the Company pursuant to the Scheme.

“Non-Consenting Lenders”:  as defined
in Section 10.1.

“Non-Excluded Taxes”:  as defined in Section 3.10(a).

“Non-U.S. Lender”:  as defined in Section 3.10(d).

“Notes”:  the collective reference to any promissory
note evidencing Term Loans.

“Offer”: the
offer (if any), pre-conditional or otherwise, proposed to be made by Bidco
substantially on the terms set out in the Offer Press Release to acquire all of
the Capital Stock of Constellation not already owned by the Company or its
Subsidiaries.

“Offer Conversion”: as defined in Section 6.11.

“Offer Conversion Notice”: as defined in
Section 6.11.

“Offer Document”:
 the document to be sent to the
shareholders of Constellation in order to make the Offer.

“Offer Press Release”:
 if an Offer Conversion occurs, the press
announcement substantially in the agreed terms to be released by or on behalf
of Bidco under Section 2.5 of the City Code to announce the terms of the Offer,
pre-conditional or otherwise; provided that such press announcement
shall have substantially the same terms as those set forth in the Scheme Press
Release (other than those changes necessary in connection with the conversion
of the Scheme to an Offer).

“OFT”:  the UK Office of Fair Trading.

 22
 

“Organizational Documents”:  as to any
Person, the Certificate of Incorporation, Certificate of Formation, By Laws,
Limited Liability Company Agreement, Partnership Agreement, memorandum and
articles of association or other organizational or governing documents of such
Person.

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

“Panel”:  the Panel on Takeovers and Mergers.

“Participant”:  as defined in Section 10.6(c).

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

“Patriot Act”:  the USA Patriot Act (Title III of Pub. L.
107-56 (signed into law October 26, 2001)).

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

“Permitted Acquisition”:  any acquisition, whether by purchase, merger
or otherwise, of all or substantially all of the assets of, all of the Capital
Stock of, or a business line or unit or a division of, any Person; provided,
(i) immediately prior to, and after giving effect thereto, no Default or Event
of Default shall have occurred and be continuing or would result therefrom;
(ii) all transactions in connection therewith shall be consummated, in all
material respects, in accordance with all applicable laws and in conformity
with all applicable Governmental Authorizations; (iii) in the case of the
acquisition of Capital Stock, all of the Capital Stock (except for any such
Capital Stock in the nature of directors’ qualifying shares required pursuant
to applicable law) acquired or otherwise issued by such Person or any newly
formed Subsidiary of the Company in connection with such acquisition shall be
owned 100% by the Company or a Guarantor thereof, and the Company shall have
taken, or caused to be taken, as of the date such Person becomes a Subsidiary
of the Company, each of the actions set forth in Sections 6.10; (iv) the Company
and its Subsidiaries shall be in compliance with the financial covenants set
forth in Section 7.1 on a pro forma basis after giving effect to such
acquisition as if such acquisition had occurred on the first day of the most
recent period of four consecutive fiscal quarters in respect of which the
Consolidated Leverage Ratio has been tested in accordance with Section 7.1(a)
but utilizing the financial covenant levels set forth in Section 7.1 corresponding
to

 23
 

the period of four
consecutive fiscal quarters ending at the conclusion of the fiscal quarter in
which such acquisition occurs, (v) immediately prior to, and after giving
effect thereto, the Company and its Subsidiaries shall have minimum Liquidity
of $20,000,000, (vi) the Company shall have delivered to the Interim
Administrative Agent at least ten (10) Business Days prior to such proposed
acquisition, a Compliance Certificate evidencing compliance with Section 7.1 as
required under clause (iv) above and compliance with clause (viii) below,
together with all relevant financial information with respect to such acquired
assets, including, without limitation, the aggregate consideration for such
acquisition, any other information reasonably required to demonstrate
compliance with Section 7.1 and, in the case of any acquisition with aggregate
consideration in excess of $25,000,000, appropriate revisions to the
projections included in the Confidential Information Memorandum, or, if
Projections have been provided pursuant to Section 6.2(c), appropriate
revisions to such Projections, in each case after giving effect to such
acquisition (such revised projections or Projections to be accompanied by a
certificate of a Responsible Officer stating that such revised projections or
Projections are based on estimates, information and assumptions set forth
therein and otherwise believed by such Responsible Officer to be reasonable at
such time (it being recognized that such revised projections or Projections
relate to future events and are not to be viewed as fact and that actual
results during the period covered thereby may differ from such revised
projections or Projections by a material amount)); (vii) any Person or assets
or division as acquired in accordance herewith shall be in substantially related
businesses or lines of business, or businesses ancillary or complimentary
thereto in which the Company and/or its Subsidiaries are engaged, or are
permitted to be engaged as provided herein, as of the time of such acquisition
and (viii) the total consideration paid in connection with all Permitted
Acquisitions (including any Earn-Out Obligations and any Indebtedness of any
acquired Person that is assumed by the Company or any of its Subsidiaries
following such acquisitions) shall not exceed (x) $75,000,000 in the aggregate
or (y) $100,000,000 in the aggregate if at least $25,000,000 thereof consists
of Net Cash Proceeds from the issuance of Capital Stock.

“Permitted
Purpose”: 
as defined in the definition of Certain Funds Loan.

“Permitted Subordinated Indebtedness”:  any Subordinated Debt of the Company or any
of its Subsidiaries incurred form time to time provided that the proceeds of
such Indebtedness shall be used only for purposes of financing any Permitted Acquisition.

“Person”:  an individual, partnership, corporation,
limited liability company, business trust, joint stock company, trust,
unincorporated association, joint venture, Governmental Authority or other
entity of whatever nature.

“Plan”:  at a particular time, any employee benefit
plan that is covered by ERISA and in respect of which the Company or a Commonly
Controlled Entity is (or, if such plan were terminated at such time, would
under Section 4069 of ERISA be deemed to be) an “employer” as defined in
Section 3(5) of ERISA.

 24
 

“pound”, “pounds” or “pound sterling”
or “£” denotes the lawful currency of the United Kingdom.

“Pro Forma Financial Statements”:  as defined
in Section 6.1(c).

“Projections”:  as defined in Section 6.2(c).

“Properties”:  as defined in Section 4.17(a).

“Property”:  any right or interest in or to property of
any kind whatsoever, whether real, personal or mixed and whether tangible or
intangible, including, without limitation, Capital Stock.

“Rationalizing Constellation Disposition”:  those Dispositions of the business units,
business lines or Subsidiaries of Constellation (i) that are required by
any Governmental Authority to the extent the same may be required but not
permit a termination of the Acquisition Agreement in effect as of the date
hereof in respect of such requirement or (ii) determined by the Company to
be in the best interests of the Company and its Subsidiaries.

“Recovery Event”:  any settlement of or payment in respect of
any property or casualty insurance claim or any condemnation proceeding
relating to any asset of any Group Member that yields gross proceeds to any
Group Member in excess of $2,000,000.

“Reference Lender”:  Morgan Stanley Senior Funding, Inc.

“Register”:  as defined in Section 10.6(b).

“Registrar of Companies”: the registrar of
companies for England and Wales.

“Regulation U”:  Regulation U of the Board as in effect from
time to time.

“Reinvestment Deferred Amount”:  with
respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by any
Group Member in connection therewith that are not applied to prepay the Term
Loans pursuant to Section 3.2(b) as a result of the delivery of a Reinvestment
Notice.

“Reinvestment Event”:  any Asset Sale or Recovery Event in respect
of which the Company has delivered a Reinvestment Notice.

 25
 

“Reinvestment Notice”:  a written notice executed by a Responsible
Officer stating that no Event of Default has occurred and is continuing and
that the Company (directly or indirectly through a Subsidiary) intends and expects
to use all or a specified portion of the Net Cash Proceeds of an Asset Sale or
Recovery Event to acquire or repair fixed or capital assets useful in its
business.

“Reinvestment Prepayment Amount”:  with
respect to any Reinvestment Event, the Reinvestment Deferred Amount relating
thereto less any amount expended prior to the relevant Reinvestment Prepayment
Date to acquire or repair fixed or capital assets useful in the Company’s
business.

“Reinvestment Prepayment Date”:  with
respect to any Reinvestment Event, the date occurring (a) six months after such
Reinvestment Event or (b) in the case of a Rationalizing Constellation
Disposition, twelve months after such Reinvestment Event.

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

“Reportable Event”:  any of the events set forth in Section
4043(b) of ERISA, other than those events as to which the thirty day notice
period is waived under subsections .27, .28, .29, .30, .31, .32, .34 or .35 of
PBGC Reg. § 4043.

“Required Lenders”:  at any time, the holders of more than 50% of
(a) until the Funding Date, the Commitments then in effect and (b) thereafter,
the aggregate unpaid principal amount of the Term Loans then outstanding; provided,
that the aggregate unpaid principal amount of the Term Loans then outstanding that
are held or deemed held by any Defaulting Lender shall be excluded for purposes
of making a determination of Required Lenders.

“Requirement of Law”:  as to any Person, any law, treaty, rule or
regulation or determination of an arbitrator or a court or other Governmental
Authority, in each case applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject.

“Responsible Officer”:  the chief executive officer, president, chief
financial officer (and, in the case of the Irish Borrower, director or managing
director) of the applicable Borrower, but in any event, with respect to
financial matters, the chief financial officer of the applicable Borrower (or
the equivalent officer with respect to the Irish Borrower).

“Restricted Payments”:  as defined in Section 7.6.

 26
 

“S&P”:  Standard & Poor’s Ratings Group, Inc.

“Scheme”: the scheme of arrangement conducted
in accordance with Section 425 of the Companies Act 1985 (or, if applicable, Part
26 of the Companies Act 2006) to be proposed by Constellation to its
shareholders pursuant to which the Company will become the only shareholder of
Constellation by virtue of having been allotted and issued New Shares which are
paid up out of the reserve created by the cancellation of the Constellation
Shares, details of which are set out in the Scheme Circular.

“Scheme Circular”: the circular to the
shareholders of Constellation, issued, or to be issued, by Constellation
setting forth the proposals for the Scheme.

“Scheme Press Release”: a press announcement
released by the Company and Constellation under Section 2.5 of the City Code to
announce the terms of the pre-conditional Scheme.

“Scheme Resolution” the resolution referred to
and in the form set out in the Scheme Circular.

“SEC”:  the Securities and Exchange Commission, any
successor thereto and any analogous Governmental Authority.

“Secured Parties”:  the collective reference to the Interim
Administrative Agent and the Term Lenders.

“Security Documents”:  the Blocked Account Control Agreements and
all other security documents hereafter delivered to the Interim Administrative
Agent granting a Lien on any property of any Person to secure the Interim
Obligations of any Loan Party under any Loan Document.

“Seller”:  the shareholders of Constellation.

“Senior
Administrative Agent”:  Morgan
Stanley Senior Funding, Inc., in its capacity as administrative agent under the
Senior Credit Agreement.

“Senior
Collateral Agent”:  Morgan Stanley
Senior Funding, Inc., in its capacity as collateral agent under the Senior
Credit Agreement.

 27
 

“Senior Credit
Agreement”:  the Senior Credit
Agreement dated as of the date hereof among the Company, the lenders party
thereto from time to time, the Senior Administrative Agent, the Senior
Collateral Agent and the other agents named therein.

“Senior
Facility”:  the “commitments” and “loans”
under and as defined in the Senior Credit Agreement.

“Senior Loans”:  the “term loans” and “revolving loans” under
and as defined in the Senior Credit Agreement.

“Senior Loan
Documents”:  the “loan documents”
under and as defined in the Senior Credit Agreement.

“Single Employer Plan”:  any Plan that is covered by Title IV of
ERISA, but that is not a Multiemployer Plan.

“Solvent”:  when used with respect to any Person, means
that, as of any date of determination, (a) the amount of the “present fair
saleable value” of the assets of such Person will, as of such date, exceed the
amount of all “liabilities of such Person, contingent or otherwise”, as of such
date, as such quoted terms are determined in accordance with applicable federal
and state laws governing determinations of the insolvency of debtors, (b) the
present fair saleable value of the assets of such Person will, as of such date,
be greater than the amount that will be required to pay the liability of such
Person on its debts as such debts become absolute and matured, (c) such Person
will not have, as of such date, an unreasonably small amount of capital with
which to conduct its business, and (d) such Person will be able to pay its
debts as they mature.  In computing the
amount of contingent liabilities at any time, it is intended that such liabilities
will be computed at the amount which, in light of all the facts and
circumstances existing at such time, represents the amount that can reasonably
be expected to become an actual or matured liability.

“Sterling”: 
denotes the lawful currency of the United Kingdom.

“Subordinated Debt”:  any Indebtedness of the Company or any of its
Subsidiaries incurred from time to time provided that (a) such Indebtedness
shall not provide for any scheduled or mandatory payments, prepayments, sinking
fund or other repurchase or redemption payments prior to the date which is six
months after the maturity date of the Term Loans (as defined in the Senior
Credit Agreement), (b) the subordination provisions thereof shall be reasonably
satisfactory to the Interim Administrative Agent, and (c) both before and after
giving effect to the issuance of such Indebtedness, no Event of Default or
Default has occurred and is continuing.

 28
 

“Subsidiary”:  as to any Person, a corporation, partnership,
limited liability company, company or other entity of which shares of stock or
other ownership interests having ordinary voting power (other than stock or
such other ownership interests having such power only by reason of the
happening of a contingency) to elect a majority of the board of directors or
other managers of such corporation, partnership or other entity are at the time
owned, or the management of which is otherwise controlled, directly or
indirectly through one or more intermediaries, or both, by such Person (for the
avoidance of doubt, excluding any member of the Constellation Group prior to
the consummation of the Acquisition). 
Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries”
in this Agreement shall refer to a Subsidiary or Subsidiaries of the Company.

“Successful
Syndication”:  as defined in the Fee
Letter.

“Syndication Agent”:  as defined in the preamble to this Agreement.

“Term Facility”:  the Commitments and the Term Loans made
hereunder.

“Term Lenders”:  each Lender that has a Commitment or that holds
a Term Loan.

“Term Loans”:  as defined in Section 2.1.

“Term Percentage”:  as to any Term Lender at any time, the
percentage which such Lender’s Commitment then constitutes of the aggregate
Commitments (or, at any time after the Funding Date, the percentage which the
aggregate principal amount of such Lender’s Term Loans then outstanding
constitutes of the aggregate principal amount of the Term Loans then
outstanding).

“Transaction”:  collectively, (a) the Acquisition, (b) the
borrowing of the Senior Loans under the Senior Credit Agreement, (c) the
borrowing of the Term Loans and (d) the immediate lending of the proceeds of
such Term Loans to UK AcquiSub Holdings and from UK AcquiSub Holdings to UK
AcquiSub to fund the Acquisition and (e) the payment of the Transaction Costs.

“Transaction Costs”:  all fees, costs and expense incurred or
payable by the Company or any Subsidiary in connection with the Transactions.

“Transferee”:  any Assignee or Participant.

 29
 

“Type”:  as to any Term Loan, its nature as a Base
Rate Loan or a Eurodollar Loan.

“UK”:  the United Kingdom.

“UK AcquiSub”: 
Websense SC Operations Limited.

“UK AcquiSub Holdings”:  Websense SC Holdings Limited.

“Unasserted
Contingent Obligations”:  at any
time, Interim Obligations for taxes, costs, indemnifications, reimbursements,
damages and other liabilities (excluding Interim Obligations in respect of the
principal of, and interest and premium (if any) on, and fees and expenses
relating to, any Interim Obligation) in respect of which no assertion of
liability (whether oral or written) and no claim or demand for payment (whether
oral or written) has been made (and, in the case of Interim Obligations for
indemnification, no notice for indemnification has been issued by the
indemnitee) at such time.

“Unconditional Date”:  the date on which the Offer becomes or is
declared unconditional in all respects.

“United States”:  the United States of America.

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

“Wholly Owned Subsidiary Guarantor”:  any
Guarantor that is a Wholly Owned Subsidiary of the Company.

1.2           Other Definitional
Provisions.  (a)  Unless otherwise specified therein, all terms
defined in this Agreement shall have the defined meanings when used in the
other Loan Documents or any certificate or other document made or delivered
pursuant hereto or thereto.

(b)       As used herein and in the other Loan Documents, and
any certificate or other document made or delivered pursuant hereto or thereto,
(i) accounting terms relating to any Group Member not defined in Section 1.1
and accounting terms partly defined in Section 1.1, to the extent not defined,
shall have the respective meanings given to them under GAAP, (ii) the words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without
limitation”, (iii) the word “incur” shall be construed to mean incur, create,
issue, assume, become liable in respect of or suffer to exist (and the words “incurred”
and “incurrence” shall

 30
 

have
correlative meanings), (iv) the words “asset” and “property” shall be construed
to have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, Capital Stock, securities,
revenues, accounts, leasehold interests and contract rights, and (v) references
to agreements or other Contractual Obligations shall, unless otherwise
specified, be deemed to refer to such agreements or Contractual Obligations as
amended, supplemented, restated or otherwise modified from time to time
(subject to any applicable restrictions hereunder).

(c)       The words “hereof”, “herein” and “hereunder” and words
of similar import when used in this Agreement shall refer to this Agreement as
a whole and not to any particular provision of this Agreement, and Section,
Schedule and Exhibit references are to this Agreement unless otherwise
specified.

(d)       The meanings given to terms defined herein shall be
equally applicable to both the singular and plural forms of such terms.

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

(f)        When the payment of any obligation or the performance
of any covenant, duty or obligation is stated to be due or performance required
on a day which is not a Business Day, the date of such payment or performance
shall extend to the immediately succeeding Business Day and such extension of
time shall be reflected in computing interest or fees, as the case may be; provided
that, with respect to any payment of interest on or principal of Eurodollar
Loans, if such extension would cause any such payment to be made in the next
succeeding calendar month, such payment shall be made on the immediately
preceding Business Day.

SECTION 2.    AMOUNT
AND TERMS OF COMMITMENTS

2.1           Commitments.  Subject to the terms and conditions hereof,
during the Certain Funds Period, each Term Lender severally agrees to make a
term loan (a “Term
Loan”) for the Permitted Purpose to
the Borrowers on the Funding Date in an amount not to exceed the amount of the
Commitment of such Lender.  The Term
Loans may from time to time be

 31
 

Eurodollar Loans or Base
Rate Loans, as determined by the Borrowers and notified to the Interim
Administrative Agent in accordance with Sections 2.2 and 3.3.  Notwithstanding the foregoing, the
Commitments of each Lender shall be reduced on the Funding Date by the amount
that has been withdrawn from the Escrow Account (or directed to be withdrawn)
and applied (or directed to be applied) to satisfy the Offer or Scheme and to
fund the Acquisition on such date.

2.2           Procedure for Term
Loan Borrowing.  The Borrowers shall
give the Interim Administrative Agent irrevocable notice (which notice must be
received by the Interim Administrative Agent prior to 12:00 Noon, New York City
time, one Business Day prior to the anticipated Funding Date) requesting that
the Term Lenders make the Term Loans on the Funding Date and specifying the
amount to be borrowed.  Upon receipt of
such notice the Interim Administrative Agent shall promptly notify each Term
Lender thereof.  Not later than 2:00 P.M.,
New York City time, on the Funding Date each Term Lender shall make available
to the Interim Administrative Agent at the Funding Office an amount in
immediately available funds equal to the Term Loan or Term Loans to be made by
such Lender.  The Interim Administrative
Agent shall credit the account of the Borrowers on the books of such office of
the Interim Administrative Agent with the aggregate of the amounts made
available to the Interim Administrative Agent by the Term Lenders in
immediately available funds.

2.3           Repayment of Term
Loans.  The Borrowers shall repay the
Term Loans on the date that is two weeks after the Funding Date.

SECTION 3.    GENERAL
PROVISIONS APPLICABLE

TO TERM LOANS

3.1           Optional Prepayments.  The Borrower may at any time and from time to
time prepay the Term Loans, in whole or in part, without premium or penalty,
upon irrevocable notice delivered to the Interim Administrative Agent no later
than 12:00 Noon, New York City time, three Business Days prior thereto, in the
case of Eurodollar Loans, and no later than 12:00 Noon, New York City time, one
Business Day prior thereto, in the case of Base Rate Loans, which notice shall
specify the date and amount of prepayment and whether the prepayment is of
Eurodollar Loans or Base Rate Loans; provided, that if a Eurodollar Loan
is prepaid on any day other than the last day of the Interest Period applicable
thereto, the Borrower shall also pay any amounts owing pursuant to Section
3.11.  Upon receipt of any such notice
the Interim Administrative Agent shall promptly notify each relevant Lender
thereof.  If any such notice is given,
the amount specified in such notice shall be due and payable on the date
specified therein, together with accrued interest to such date on the amount
prepaid.  Partial prepayments of Term
Loans shall be in an aggregate principal amount of $1,000,000 or a whole
multiple thereof.

3.2           Mandatory
Prepayments and Commitment Reductions.

(a)       If any Capital Stock or Indebtedness shall be issued
or incurred by any Group Member (other than (i) Excluded Indebtedness, (ii) any
Capital Stock issued to any Group Member, (iii) any Capital Stock issued to any
member of management or directors, officers or employees of any Group Member or
(iv) any Capital Stock issued in contemplation of

 32
 

a
Permitted Acquisition) or any capital contribution is made to any Group Member
(other than a capital contribution by any Group Member), an amount equal to
100% of the Net Cash Proceeds thereof shall be applied on the date of such
issuance, incurrence or contribution toward the prepayment of the Term Loans as
set forth in Section 3.2(d); provided, however, that the amount of Net
Cash Proceeds payable pursuant to this clause (a) from the issuance of Capital
Stock by any Group Member shall be reduced to 50% if the Company’s Consolidated
Leverage Ratio is less than 1.50:1.00.

(b)       If on any date any Group Member shall receive Net Cash
Proceeds from any Asset Sale or Recovery Event then, unless a Reinvestment
Notice shall be delivered in respect thereof, such Net Cash Proceeds shall be
applied on such date toward the prepayment of the Term Loans as set forth in
Section 3.2(d); provided, that, notwithstanding the foregoing, (i) the
aggregate Net Cash Proceeds of Asset Sales and Recovery Events that may be
excluded from the foregoing requirement pursuant to a Reinvestment Notice shall
not exceed $15,000,000 in any fiscal year of the Company and (ii) on each
Reinvestment Prepayment Date, an amount equal to the Reinvestment Prepayment
Amount with respect to the relevant Reinvestment Event shall be applied toward
the prepayment of the Term Loans as set forth in Section 3.2(d).

(c)       If, for any fiscal year of the Company commencing with
the fiscal year ending December 31, 2007, there shall be Excess Cash Flow, the Company
shall, on the relevant Excess Cash Flow Application Date, apply the ECF
Percentage of such Excess Cash Flow toward the prepayment of the Term Loans as
set forth in Section 3.2(d).  Each such
prepayment and commitment reduction shall be made on a date (an “Excess Cash Flow
Application Date”) no later than
five days after the earlier of (i) the date on which the financial statements
of the Company referred to in Section 6.1(a), for the fiscal year with respect
to which such prepayment is made, are required to be delivered to the Lenders
and (ii) the date such financial statements are actually delivered to the
Lenders.

(d)       The application of any prepayment pursuant to Section
3.2 shall be made, first, to Base Rate Loans and, second, to
Eurodollar Loans.  Each prepayment of the
Term Loans under Section 3.2 shall be accompanied by accrued interest to the
date of such prepayment on the amount prepaid.

3.3           Conversion and
Continuation Options.  (a)  The Borrower may elect from time to time to
convert Eurodollar Loans to Base Rate Loans by giving the Interim
Administrative Agent prior irrevocable notice of such election no later than 12:00
Noon, New York City time, on the Business Day preceding the proposed conversion
date, provided that any such conversion of Eurodollar Loans may only be
made on the last day of an Interest Period with respect thereto.  The Borrower may elect from time to time to
convert Base Rate Loans to Eurodollar Loans by giving the Interim
Administrative Agent prior irrevocable notice of such election no later than 12:00
Noon, New York City time, on the third Business Day preceding the proposed
conversion date (which notice shall specify the length of the initial Interest
Period therefor), provided that no Base Rate Loan may be converted into
a Eurodollar Loan when any Event of Default has occurred and is continuing and
the Interim Administrative Agent has or the

 33
 

Required Lenders have
determined in its or their sole discretion not to permit such conversions.  Upon receipt of any such notice the Interim Administrative
Agent shall promptly notify each relevant Lender thereof.

(b)       Any Eurodollar Loan may be continued as such upon the
expiration of the then current Interest Period with respect thereto by the Borrower
giving irrevocable notice to the Interim Administrative Agent, in accordance
with the applicable provisions of the term “Interest Period” set forth in
Section 1.1, of the length of the next Interest Period to be applicable to such
Term Loans, provided that no Eurodollar Loan may be continued as such
when any Event of Default has occurred and is continuing and the Interim
Administrative Agent has or the Required Lenders have determined in its or
their sole discretion not to permit such continuations, and provided, further,
that if the Borrower shall fail to give any required notice as described above
in this paragraph or if such continuation is not permitted pursuant to the
preceding proviso such Term Loans shall be automatically converted to Base Rate
Loans on the last day of such then expiring Interest Period.  Upon receipt of any such notice the Interim
Administrative Agent shall promptly notify each relevant Lender thereof.

3.4           Limitations on
Eurodollar Tranches.  Notwithstanding
anything to the contrary in this Agreement, all borrowings, conversions and
continuations of Eurodollar Loans hereunder and all selections of Interest
Periods hereunder shall be in such amounts and be made pursuant to such
elections so that, (a) after giving effect thereto, the aggregate principal
amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be
equal to $1,000,000 or a whole multiple of $100,000 in excess thereof and (b)
no more than two Eurodollar Tranches shall be outstanding at any one time.

3.5           Interest Rates and
Payment Dates.  (a)  Each Eurodollar Loan shall bear interest for
each day during each Interest Period with respect thereto at a rate per annum
equal to the Eurodollar Rate determined for such day plus the Applicable
Margin.

(b)       Each Base Rate Loan shall bear interest at a rate per
annum equal to the Base Rate plus the Applicable Margin.

(c)        (i)  If all or
a portion of the principal amount of any Term Loan shall not be paid when due
(whether at the stated maturity, by acceleration or otherwise), all outstanding
Term Loans (whether or not overdue) shall, upon the receipt of notice from
Interim Administrative Agent at the direction of Required Lenders, bear
interest at a rate per annum equal to the rate that would otherwise be
applicable thereto pursuant to the foregoing provisions of this Section plus
2%, and (ii) if all or a portion of any interest payable on any Term Loan or
any fee or other amount payable hereunder shall not be paid when due (whether
at the stated maturity, by acceleration or otherwise), such overdue amount
shall bear interest at a rate per annum equal to the rate then applicable to
Base Rate Loans plus 2%, in each case, with respect to clauses (i) and
(ii) above, from the date of such non payment until such amount is paid in full
(after as well as before judgment).

 34
 

(d)       Interest shall be payable in arrears on each Interest
Payment Date, provided that interest accruing pursuant to paragraph (c)
of this Section shall be payable from time to time on demand.

3.6           Computation of
Interest and Fees.  (a)  Interest and fees payable pursuant hereto
shall be calculated on the basis of a 360-day year for the actual days elapsed,
except that, with respect to Base Rate Loans the rate of interest on which is
calculated on the basis of the Prime Rate, the interest thereon shall be calculated
on the basis of a 365- (or 366-, as the case may be) day year for the actual
days elapsed.  The Interim Administrative
Agent shall as soon as practicable notify the Borrower and the relevant Lenders
of each determination of a Eurodollar Rate. 
Any change in the interest rate on a Term Loan resulting from a change
in the Base Rate or the Eurocurrency Reserve Requirements shall become
effective as of the opening of business on the day on which such change becomes
effective.  The Interim Administrative Agent
shall as soon as practicable notify the Borrower and the relevant Lenders of
the effective date and the amount of each such change in interest rate.

(b)       Each determination of an interest rate by the Interim
Administrative Agent pursuant to any provision of this Agreement shall be
conclusive and binding on the Borrower and the Lenders in the absence of
manifest error.  The Interim
Administrative Agent shall, at the request of the Borrower, deliver to the Borrower
a statement showing the quotations used by the Interim Administrative Agent in
determining any interest rate pursuant to Section 3.5(a).

3.7           Inability to
Determine Interest Rate.  If prior to
the first day of any Interest Period:

(A)          the Interim Administrative Agent
shall have determined (which determination shall be conclusive and binding upon
the Borrower) that, by reason of circumstances affecting the relevant market,
adequate and reasonable means do not exist for ascertaining the Eurodollar Rate
for such Interest Period, or

(B)           the Interim Administrative Agent
shall have received notice from the Required Lenders that the Eurodollar Rate
determined or to be determined for such Interest Period will not adequately and
fairly reflect the cost to such Lenders (as conclusively certified by such Lenders)
of making or maintaining their affected Term Loans during such Interest Period,

the Interim
Administrative Agent shall give telecopy or telephonic notice thereof to the Borrower
and the relevant Lenders as soon as practicable thereafter.  If such notice is given (x) any Eurodollar
Loans requested to be made on the first day of such Interest Period shall be
made as Base Rate Loans, (y) any Term Loans that were to have been converted on
the first day of such Interest Period to Eurodollar Loans shall be continued as
Base Rate Loans and (z) any

 35
 

outstanding Eurodollar
Loans shall be converted, on the last day of the then-current Interest Period,
to Base Rate Loans.  Until such notice
has been withdrawn by the Interim Administrative Agent, no further Eurodollar
Loans shall be made or continued as such, nor shall the Borrower have the right
to convert Term Loans to Eurodollar Loans.

3.8           Pro Rata Treatment
and Payments.  (a)  The borrowing by the Borrower from the
Lenders hereunder shall be made pro rata
according to the respective Term Percentages of the Lenders.

(b)       Each payment (including each prepayment) by the Borrower
on account of principal of and interest on the Term Loans shall be made pro rata according to the respective
outstanding principal amounts of the Term Loans then held by the Term
Lenders.  The amount of each principal
prepayment of the Term Loans shall be applied to reduce the then remaining
installments of the Term Loans, pro rata
based upon the then remaining principal amount thereof.  Amounts repaid or prepaid on account of the
Term Loans may not be reborrowed.

(c)       All payments (including prepayments) to be made by the
Borrower hereunder, whether on account of principal, interest, fees or
otherwise, shall be made without setoff or counterclaim and shall be made prior
to 12:00 Noon, New York City time, on the due date thereof to the Interim
Administrative Agent, for the account of the Lenders, at the Funding Office, in
Dollars and in immediately available funds. 
The Interim Administrative Agent shall distribute such payments to the
Lenders promptly upon receipt in like funds as received.  If any payment hereunder (other than payments
on the Eurodollar Loans) becomes due and payable on a day other than a Business
Day, such payment shall be extended to the next succeeding Business Day.  If any payment on a Eurodollar Loan becomes
due and payable on a day other than a Business Day, the maturity thereof shall
be extended to the next succeeding Business Day unless the result of such
extension would be to extend such payment into another calendar month, in which
event such payment shall be made on the immediately preceding Business
Day.  In the case of any extension of any
payment of principal pursuant to the preceding two sentences, interest thereon shall
be payable at the then applicable rate during such extension.

(d)       Unless the Interim Administrative Agent shall have
been notified in writing by any Lender prior to a Borrowing that such Lender
will not make the amount that would constitute its share of such Borrowing
available to the Interim Administrative Agent, the Interim Administrative Agent
may assume that such Lender is making such amount available to the Interim
Administrative Agent, and the Interim Administrative Agent may, in reliance
upon such assumption, make available to the Borrower a corresponding
amount.  If such amount is not made
available to the Interim Administrative Agent by the required time on the borrowing
date therefor, such Lender shall pay to the Interim Administrative Agent, on
demand, such amount with interest thereon at a rate equal to the greater of (i)
the Federal Funds Effective Rate and (ii) a rate determined by the Interim
Administrative Agent in accordance with banking industry rules on interbank
compensation for the period until such Lender makes such amount immediately
available to the Interim Administrative Agent. 
A certificate of the Interim Administrative Agent

 36
 

submitted
to any Lender with respect to any amounts owing under this paragraph shall be
conclusive in the absence of manifest error. 
If such Lender’s share of such Borrowing is not made available to the Interim
Administrative Agent by such Lender within three Business Days of the borrowing
date, the Interim Administrative Agent shall also be entitled to recover such
amount with interest thereon at the rate per annum applicable to Base Rate
Loans, on demand, from the Borrower.

(e)       Unless the Interim Administrative Agent shall have
been notified in writing by the Borrower prior to the date of any payment due
to be made by the Borrower hereunder that the Borrower will not make such
payment to the Interim Administrative Agent, the Interim Administrative Agent
may assume that the Borrower is making such payment, and the Interim
Administrative Agent may, but shall not be required to, in reliance upon such
assumption, make available to the Lenders their respective pro rata shares of a corresponding amount.  If such payment is not made to the Interim
Administrative Agent by the Borrower within three Business Days after such due
date, the Interim Administrative Agent shall be entitled to recover, on demand,
from each Lender to which any amount which was made available pursuant to the
preceding sentence, such amount with interest thereon at the rate per annum
equal to the daily average Federal Funds Effective Rate.  Nothing herein shall be deemed to limit the
rights of the Interim Administrative Agent or any Lender against the Borrower.

3.9           Requirements of Law.  (a)  If
the adoption of or any change in any Requirement of Law or in the
interpretation or application thereof or compliance by any Lender with any
request or directive (whether or not having the force of law) from any central
bank or other Governmental Authority made subsequent to the date hereof:

(i)            shall subject any Lender to any tax
of any kind whatsoever with respect to this Agreement or any Eurodollar Loan
made by it, or change the basis of taxation of payments to such Lender in
respect thereof (except for Non-Excluded Taxes covered by Section 3.10 and changes
in the rate of tax on the overall net income of such Lender);

(ii)           shall impose, modify or hold
applicable any reserve, special deposit, compulsory loan or similar requirement
against assets held by, deposits or other liabilities in or for the account of,
advances, loans or other extensions of credit by, or any other acquisition of
funds by, any office of such Lender that is not otherwise included in the
determination of the Eurodollar Rate hereunder; or

(iii)          shall impose on such Lender any
other condition;

and the result of any of
the foregoing is to increase the cost to such Lender, by an amount that such
Lender deems to be material, of making, converting into, continuing or
maintaining Eurodollar Loans, or to reduce any amount receivable hereunder in
respect thereof, then, in any such case, the Borrower shall promptly pay such
Lender, upon its demand, any additional

 37
 

amounts necessary to
compensate such Lender for such increased cost or reduced amount
receivable.  If any Lender becomes
entitled to claim any additional amounts pursuant to this paragraph, it shall
promptly notify the Borrower (with a copy to the Interim Administrative Agent)
of the event by reason of which it has become so entitled.

(b)       If any Lender shall have determined that the adoption
of or any change in any Requirement of Law regarding capital adequacy or in the
interpretation or application thereof or compliance by such Lender or any
corporation controlling such Lender with any request or directive regarding
capital adequacy (whether or not having the force of law) from any Governmental
Authority made subsequent to the date hereof shall have the effect of reducing
the rate of return on such Lender’s or such corporation’s capital as a
consequence of its obligations hereunder to a level below that which such
Lender or such corporation could have achieved but for such adoption, change or
compliance (taking into consideration such Lender’s or such corporation’s
policies with respect to capital adequacy) by an amount deemed by such Lender
to be material, then from time to time, after submission by such Lender to the Borrower
(with a copy to the Interim Administrative Agent) of a written request
therefor, the Borrower shall pay to such Lender such additional amount or
amounts as will compensate such Lender or such corporation for such reduction.

(c)       A certificate as to any additional amounts payable
pursuant to this Section submitted by any Lender to the Borrower (with a copy
to the Interim Administrative Agent) shall be conclusive in the absence of
manifest error.  Notwithstanding anything
to the contrary in this Section, the Borrower shall not be required to
compensate a Lender pursuant to this Section for any amounts incurred more than
six months prior to the date that such Lender notifies the Borrower of such
Lender’s intention to claim compensation therefor; provided that, if the
circumstances giving rise to such claim have a retroactive effect, then such
six-month period shall be extended to include the period of such retroactive
effect.  The obligations of the Borrower
pursuant to this Section shall survive the termination of this Agreement and
the payment of the Term Loans and all other amounts payable hereunder.

3.10         Taxes.  (a) 
All payments made by the Borrower under this Agreement shall be made
free and clear of, and without deduction or withholding for or on account of,
any present or future income, stamp or other taxes, levies, imposts, duties,
charges, fees, deductions or withholdings, now or hereafter imposed, levied,
collected, withheld or assessed by any Governmental Authority, excluding net
income taxes and franchise taxes (imposed in lieu of net income taxes) imposed
on any Agent or any Lender as a result of a present or former connection
between such Agent or such Lender and the jurisdiction of the Governmental
Authority imposing such tax or any political subdivision or taxing authority
thereof or therein (other than any such connection arising solely from such
Agent or such Lender having executed, delivered or performed its obligations or
received a payment under, or enforced, this Agreement or any other Loan
Document).  If any such non-excluded
taxes, levies, imposts, duties, charges, fees, deductions or withholdings (“Non-Excluded Taxes”) or Other Taxes are required to be withheld from
any amounts payable to any Agent or any Lender hereunder, the amounts so
payable to such Agent or such Lender shall be increased to the extent necessary
to yield to such Agent or such Lender (after payment of all Non-Excluded Taxes
and Other Taxes) interest or any such

 38
 

other amounts payable
hereunder at the rates or in the amounts specified in this Agreement, provided,
however, that the Borrower shall not be required to increase any such amounts
payable to any Lender with respect to any Non-Excluded Taxes (i) that are
attributable to such Lender’s failure to comply with the requirements of
paragraph (d) or (e) of this Section or (ii) that are United States withholding
taxes imposed on amounts payable to such Lender at the time such Lender becomes
a party to this Agreement (or, in the case of a Participant, on the date such
Participant becomes a Participant hereunder), except to the extent that such
Lender’s assignor (if any) was entitled, at the time of assignment, to receive
additional amounts from the Borrower with respect to such Non-Excluded Taxes
pursuant to this paragraph.

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

(c)       Whenever any Non-Excluded Taxes or Other Taxes are
payable by the Borrower, as promptly as possible thereafter the Borrower shall
send to the Interim Administrative Agent for its own account or for the account
of the relevant Agent or Lender, as the case may be, a certified copy of an
original official receipt received by the Borrower showing payment
thereof.  If the Borrower fails to pay
any Non-Excluded Taxes or Other Taxes when due to the appropriate taxing
authority or fails to remit to the Interim Administrative Agent the required
receipts or other required documentary evidence, the Borrower shall indemnify
the Agents and the Lenders for any incremental taxes, interest or penalties
that may become payable by any Agent or any Lender as a result of any such
failure.

(d)       Each Lender (or Transferee) that is not a “U.S. Person”
as defined in Section 7701(a)(30) of the Code (a “Non U.S. Lender”)
shall deliver to the Borrower and the Interim Administrative Agent (or, (x) in
the case of a Participant, solely to the Lender from which the related participation
shall have been purchased and (y) in the case of an Assignee under an
assignment to an affiliate of a Lender or an Approved Fund of a Lender that is
made pursuant to Section 10.6(b)(iii), the assigning Lender) two completed
originals of either U.S. Internal Revenue Service Form W-8BEN or Form W-8ECI,
or, in the case of a Non U.S. Lender claiming exemption from U.S. federal
withholding tax under Section 871(h) or 881(c) of the Code with respect to
payments of “portfolio interest”, a statement substantially in the form of
Exhibit G and a Form W-8BEN, or any subsequent versions thereof or successors
thereto, properly completed and duly executed by such Non U.S. Lender claiming
complete exemption from, or a reduced rate of, U.S. federal withholding tax on
all payments by the Borrower under this Agreement and the other Loan
Documents.  Such forms shall be delivered
by each Non U.S. Lender on or before the date it becomes a party to this
Agreement (or, in the case of any Participant, on or before the date such
Participant purchases the related participation).  In addition, each Non U.S. Lender shall
deliver such forms promptly upon the obsolescence or invalidity of any form
previously delivered by such Non U.S. Lender. 
Each Non-U.S. Lender shall promptly notify the Borrower at any time it
determines that it is no longer in a position to provide any previously
delivered certificate to the Borrower (or any other form of certification
adopted by the U.S. taxing authorities for such purpose).  Notwithstanding any other provision of

 39
 

this
paragraph, a Non U.S. Lender shall not be required to deliver any form pursuant
to this paragraph that such Non U.S. Lender is not legally able to deliver.

(e)       A Lender that is entitled to an exemption from or
reduction of non-U.S. withholding tax under the law of the jurisdiction in
which the Borrower is located, or any treaty to which such jurisdiction is a
party, with respect to payments under this Agreement shall deliver to the Borrower
(with a copy to the Interim Administrative Agent), at the time or times
prescribed by applicable law or reasonably requested in writing by the Borrower,
such properly completed and executed documentation prescribed by applicable law
as will permit such payments to be made without withholding or at a reduced
rate, provided that such Lender is legally entitled to complete, execute
and deliver such documentation and in such Lender’s judgment such completion,
execution or submission would not materially prejudice the legal position of
such Lender.

(f)            If any Agent or any Lender
determines, in its sole discretion, that it has received a refund of any
Non-Excluded Taxes or Other Taxes as to which it has been indemnified by the Borrower
or with respect to which the Borrower has paid additional amounts pursuant to
this Section 3.10, it shall pay over such refund to the Borrower (but only to
the extent of indemnity payments made, or additional amounts paid, by the Borrower
under this Section 3.10 with respect to the Non-Excluded Taxes or Other Taxes
giving rise to such refund), net of all out-of-pocket expenses of such Agent or
such Lender and without interest (other than any interest paid by the relevant
Governmental Authority with respect to such refund); provided, that the Borrower,
upon the request of such Agent or such Lender, agrees to repay the amount paid
over to the Borrower (plus any penalties, interest or other charges imposed by
the relevant Governmental Authority) to such Agent or such Lender in the event
such Agent or such Lender is required to repay such refund to such Governmental
Authority.  This paragraph shall not be
construed to require any Agent or any Lender to make available its tax returns
(or any other information relating to its taxes which it deems confidential) to
the Borrower or any other Person.

(g)       The agreements in this Section shall survive the
termination of this Agreement and the payment of the Term Loans and all other
amounts payable hereunder or under any other Loan Document.

3.11         Indemnity.  The Borrower agrees to indemnify each Lender
and to hold each Lender harmless from any loss, cost or expense that such
Lender may sustain or incur as a consequence of (a) default by the Borrower in
making a borrowing of, conversion into or continuation of Eurodollar Loans
after the Borrower has given a notice requesting the same in accordance with
the provisions of this Agreement, (b) default by the Borrower in making any
prepayment of or conversion from Eurodollar Loans after the Borrower has given
a notice thereof in accordance with the provisions of this Agreement or (c) the
making of a prepayment of Eurodollar Loans on a day that is not the last day of
an Interest Period with respect thereto. 
Such indemnification may include an amount equal to the excess, if any,
of (i) the amount of interest that would have accrued on the amount so prepaid,
or not so borrowed, converted or continued, for the period from the date of
such prepayment or of such failure to borrow, convert or continue

 40
 

to the last day of such
Interest Period (or, in the case of a failure to borrow, convert or continue,
the Interest Period that would have commenced on the date of such failure) in
each case at the applicable rate of interest for such Term Loans provided for
herein (excluding, however, the Applicable Margin included therein, if any)
over (ii) the amount of interest (as reasonably determined by such Lender) that
would have accrued to such Lender on such amount by placing such amount on
deposit for a comparable period with leading banks in the interbank eurodollar
market.  A certificate as to any amounts
payable pursuant to this Section submitted to the Borrower by any Lender shall
be conclusive in the absence of manifest error. 
This covenant shall survive the termination of this Agreement and the
payment of the Term Loans and all other amounts payable hereunder.

3.12         Change of Lending
Office.  Each Lender agrees that,
upon the occurrence of any event giving rise to the operation of Section 3.9 or
3.10(a) with respect to such Lender, it will, if requested by the Borrower, use
reasonable efforts (subject to overall policy considerations of such Lender) to
designate another lending office for any Term Loans affected by such event with
the object of avoiding the consequences of such event; provided, that
such designation is made on terms that, in the sole judgment of such Lender,
cause such Lender and its lending office(s) to suffer no economic, legal or
regulatory disadvantage, and provided, further, that nothing in
this Section shall affect or postpone any of the obligations of the Borrower or
the rights of any Lender pursuant to Section 3.9 or 3.10(a).

3.13         Replacement of Lenders.  If (a) any Lender requests compensation under
Section 3.9 or 3.10 (such Lender, an “Affected Lender”),
(b) either Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section
3.10, (c) any Lender is a Defaulting Lender or (d) any Lender shall refuse to
consent to an amendment or waiver to or departure from the provisions of, this
Agreement or any other Loan Document which requires the consent of all Lenders
or of all Lenders directly affected thereby and has been consented to by
Required Lenders, the Company shall be permitted to replace any such Lender with
a replacement financial institution; provided that (i) such replacement
does not conflict with any Requirement of Law, (ii) no Event of Default shall
have occurred and be continuing at the time of such replacement except where
the replaced Lender is a Non-Consenting Lender, (iii) the replacement financial
institution shall purchase, at par, all Term Loans and other amounts owing to
such replaced Lender on or prior to the date of replacement, (iv) the Borrower
shall be liable to such replaced Lender under Section 3.11 if any Eurodollar
Loan owing to such replaced Lender shall be purchased other than on the last
day of the Interest Period relating thereto, (v) the replacement financial
institution, if not already a Lender or an Approved Fund or Affiliate of a
Lender, shall be reasonably satisfactory to the Interim Administrative Agent,
(vi) the replaced Lender shall be obligated to make such replacement in
accordance with the provisions of Section 10.6 (provided that the Borrower
shall be obligated to pay the registration and processing fee referred to
therein), (vii) until such time as such replacement shall be consummated, the Borrower
shall pay all additional amounts (if any) required pursuant to Section 3.9 or
3.10(a), as the case may be, (viii) any such replacement shall not be deemed to
be a waiver of any rights that the Borrower, the Interim Administrative Agent
or any other Lender shall have against the replaced Lender, and (ix) in the
case of a Non-Consenting Lender, the replacement financial institution shall
consent at the time of such assignment to each matter in respect of which the
replaced Lender was a Non-Consenting Lender.

 41

3.14         Evidence of Debt.  (a) 
Each Lender shall maintain in accordance with its usual practice an
account or accounts evidencing indebtedness of the Borrower to such Lender
resulting from each Term Loan of such Lender from time to time, including the
amounts of principal and interest payable and paid to such Lender from time to
time under this Agreement.

(b)       The Interim Administrative Agent, on behalf of the Borrower
(or, in the case of an assignment not required to be recorded in the Register
in accordance with the provisions of Section 10.6(b)(v), the assigning Lender,
acting solely for this purpose as a non-fiduciary agent of the Borrower), shall
maintain the Register (or, in the case of an assignment not required to be
recorded in the Register in accordance with the provisions of Section
10.6(b)(v), a Related Party Register), in each case pursuant to Section
10.6(b), and a subaccount therein for each Lender, in which shall be recorded
(i) the amount of each Term Loan made hereunder and any Note evidencing such
Term Loan, the Type of such Term Loan and each Interest Period applicable
thereto, (ii) the amount of any principal or interest due and payable or to
become due and payable from the Borrower to each Lender hereunder and (iii)
both the amount of any sum received by the Interim Administrative Agent (or, in
the case of an assignment not required to be recorded in the Register in
accordance with the provisions of Section 10.6(b)(v), the assigning Lender)
hereunder from the Borrower and each Lender’s share thereof.

(c)       The entries made in the Register and the accounts of
each Lender maintained pursuant to Section 3.14(a) shall, to the extent
permitted by applicable law, be prima  facie evidence of the
existence and amounts of the obligations of the Borrower therein recorded; provided,
however, that the failure of any Lender or the Interim Administrative
Agent to maintain the Register or any such account, or any error therein, shall
not in any manner affect the obligation of the Borrower to repay (with applicable
interest) the Term Loans made to the Borrower by such Lender in accordance with
the terms of this Agreement.

(d)           The Borrower agrees that, upon the
request to the Interim Administrative Agent by any Lender, the Borrower will
execute and deliver to such Lender a promissory note of the Borrower evidencing
any Term Loans of such Lender, substantially in the form of Exhibit H, with
appropriate insertions as to date and principal amount.

3.15         Illegality.  Notwithstanding any other provision herein,
if the adoption of or any change in any Requirement of Law or in the
interpretation or application thereof shall make it unlawful for any Lender to
make or maintain Eurodollar Loans as contemplated by this Agreement, (a) the
commitment of such Lender hereunder to make Eurodollar Loans, continue
Eurodollar Loans as such and convert Base Rate Loans to Eurodollar Loans shall
forthwith be canceled and (b) such Lender’s Term Loans then outstanding as
Eurodollar Loans, if any, shall be converted automatically to Base Rate Loans
on the respective last days of the then current Interest Periods with respect
to such Term Loans or within such earlier period as required by law.  If any such conversion of a Eurodollar Loan
occurs on a day which is not the last day of the then current Interest Period
with respect thereto, the Borrower shall pay to such Lender such amounts, if
any, as may be required pursuant to Section 3.11.

 42
 

3.16         Relationship Among
Borrowers.  The Irish Borrower hereby
appoints the Company, and the Company shall act under this Agreement, as the
agent, attorney-in-fact and legal representative of the Irish Borrower for all
purposes, including requesting Term Loans and receiving account statements and
other notices and communications to the Borrowers (or any of them) from the
Interim Administrative Agent or any Lender. 
The Interim Administrative Agent and the Lenders may rely, and shall be
fully protected in relying, on any notice of borrowing, notice of
continuation/conversion, disbursement instruction, report, information or any
other notice or communication made or given by the Company, whether in its own
name, as Borrowers’ agent, on behalf of the Irish Borrower or on behalf of the
Borrowers, and neither the Interim Administrative Agent nor any Lender shall
have any obligation to make any inquiry or request any confirmation from or on
behalf of any other Borrower as to the binding effect on it of any such notice,
request, instruction, report, information, other notice or communications, nor
shall the character of the Borrowers’ obligations hereunder be affected,
provided that the provisions of this Section 3.16 shall not be construed as to
preclude any Borrower from taking actions permitted to be taken by a “Borrower”
hereunder.

SECTION 4.    REPRESENTATIONS
AND WARRANTIES

To induce the Agents and the Lenders to enter into
this Agreement and to make the Term Loans, the Borrowers hereby represent and
warrant to each Agent and each Lender that:

4.1           Financial Condition.  (a) The Pro Forma Financial Statements furnished
to each Lender pursuant to Section 6.1(c) have been or will be prepared giving
effect (as if such events had occurred on such date) to the consummation of the
Transaction.  The Pro Forma Financial
Statements have been or will be prepared based on the best information
available to the Company as of the date of delivery thereof, and present fairly
or will present fairly on a pro forma basis the estimated financial position of
the Company and its consolidated Subsidiaries as at and for each of the dates
and periods set forth therein; provided that insofar as this
representation relates to the financial information of Constellation, this
representation is made solely to the Company’s knowledge.

(b)       (i) The audited consolidated balance sheets of the Company
and its Subsidiaries as at December 31, 2004, December 31, 2005 and December
31, 2006, and the related consolidated statements of income and of cash flows
for the fiscal years ended on such dates, reported on by and accompanied by an
unqualified report from Ernst & Young LLP, present fairly in all material
respects the consolidated financial condition of the Company and its
Subsidiaries as at such date, and the consolidated results of its operations
and its consolidated cash flows for the respective fiscal years then
ended.  (ii) To the Company’s knowledge
based only on publicly available information, the audited consolidated balance
sheets of Constellation and its Subsidiaries as at June 30, 2006, and the
related consolidated statements of income and of cash flows for the fiscal
years ended on such date, present fairly the consolidated financial condition
of Constellation and its Subsidiaries as at such date, and the consolidated
results of its operations and its consolidated cash flows for the respective
fiscal years then ended.  (iii) The
unaudited consolidated balance sheet of the Company and its Subsidiaries for
each fiscal quarter

 43
 

ended
after December 31, 2006 and at least 45 days prior to the Effective Date, and
the related unaudited consolidated statements of income and cash flows for the
period ended on such date, will present fairly in all material respects the
consolidated financial condition of the Company and its Subsidiaries as at such
date, and the consolidated results of its operations and its consolidated cash
flows for the period then ended (subject to normal year end audit
adjustments).  (iv) To the Company’s
knowledge based on publicly available information, the unaudited consolidated
balance sheet of Constellation and its Subsidiaries for each fiscal quarter
ended after June 30, 2006 and at least 45 days prior to the Effective Date, and
the related unaudited consolidated statements of income and cash flows for the
period ended on such date, will present fairly in all material respects the
consolidated financial condition of Constellation and its Subsidiaries as at
such date, and the consolidated results of its operations and its consolidated
cash flows for the period then ended (subject to normal year end audit
adjustments).  All such financial statements,
including the related schedules and notes thereto, have been prepared in
accordance with GAAP or International Financial Reporting Standards, as
applicable, applied consistently throughout the periods involved (except as
approved by the aforementioned firm of accountants and disclosed therein); provided
that insofar as this representation relates to the financial information of
Constellation, this representation is made solely to the Company’s knowledge.  No Group Member has any material Guarantee Obligations,
contingent liabilities and liabilities for taxes, or any long term leases or
unusual forward or long term commitments, including any interest rate or
foreign currency swap or exchange transaction or other obligation in respect of
derivatives, that are not reflected in the most recent financial statements
referred to in this paragraph.  During
the period from December 31, 2006 to and including the date hereof there has
been no Disposition by any Group Member of any material part of its business or
property that, if this Agreement had been in effect at such time, would have
been prohibited hereunder.

4.2           No Change.  With respect to any credit event after the
Effective Date, there has been no development or event since December 31, 2006 that
has had or would reasonably be expected to have a Material Adverse Effect.

4.3           Corporate Existence;
Compliance with Law.  Each Group
Member (a) is duly organized, validly existing and in good standing (to the
extent applicable) under the laws of the jurisdiction of its organization, (b)
has the power and authority, and the legal right, to own and operate its
property, to lease the property it operates as lessee and to conduct the
business in which it is currently engaged, (c) is duly qualified as a foreign
entity and in good standing under the laws of each jurisdiction where its
ownership, lease or operation of property or the conduct of its business
requires such qualification and (d) is in compliance with the terms of its
Organizational Documents and all Requirements of Law except to the extent that
the failure to comply with clause (b) or (d) of this Section 4.3 would not, in
the aggregate, reasonably be expected to have a Material Adverse Effect.

4.4           Power;
Authorization; Enforceable Obligations. 
Each Loan Party has the power and authority, and the legal right, to
make, deliver and perform the Loan Documents to which it is a party and, in the
case of the Borrower, to obtain extensions of credit hereunder.  Each Loan Party has taken all necessary
organizational and other action to authorize the execution, delivery and
performance of the Loan Documents to which it is a party and, in the case of
the Borrower, to authorize the extensions of credit on the terms and conditions
of this

 44
 

Agreement.  No consent or authorization of, filing with,
notice to or other act by or in respect of, any relevant Governmental Authority
or any other relevant Person is required in connection with the Transaction and
the extensions of credit hereunder or with the execution, delivery, performance,
validity or enforceability of this Agreement or any of the Loan Documents,
except (i) consents, authorizations, filings and notices described in Schedule
4.4 of the Disclosure Letter, which consents, authorizations, filings and
notices shall have been obtained or made and shall be in full force and effect
on or before the Funding Date and all applicable waiting periods shall have
expired on or before the Funding Date without any action being taken by any
Governmental Authority which would restrain, prevent or otherwise impose
adverse conditions on the Transaction, which conditions would reasonably be
expected to have a Material Adverse Effect and (ii) the filings referred to in
Section 4.19.  This Agreement has been
duly executed and delivered on behalf of each Loan Party party thereto and each
other Loan Document shall have been duly executed and delivered on behalf of
each Loan Party party thereto on or before the Effective Date or the Funding
Date, as applicable.  This Agreement
constitutes, and each other Loan Document upon execution will constitute, a
legal, valid and binding obligation of each Loan Party party thereto,
enforceable against each such Loan Party in accordance with its terms, except
as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law) and except to the
extent qualified by any reservations or qualifications given in connection with
the Loan Documents.

4.5           No Legal Bar.  The execution, delivery and performance of
this Agreement and the other Loan Documents, the borrowings hereunder and the
use of the proceeds thereof will not violate its Organizational Document, any
Requirement of Law, Governmental Authorization or any Contractual Obligation of
any Group Member and will not result in, or require, the creation or imposition
of any Lien on any of their respective properties or revenues pursuant to its
Organizational Documents, any Requirement of Law or any such Contractual
Obligation (other than the Liens created by the Security Documents).  No Requirement of Law or Contractual
Obligation applicable to the Company or any of its Subsidiaries would
reasonably be expected to have a Material Adverse Effect.

4.6           Litigation.  Except as set forth on Schedule 4.6 of the
Disclosure Letter, no litigation, investigation or proceeding of or before any
arbitrator or Governmental Authority is pending or, to the knowledge of a
Responsible Officer of the Company, threatened by or against any Group Member
or against any of their respective properties or revenues (a) that purports to
effect the execution, delivery or performance of the Transaction or any of the
Loan Documents, or (b) that would reasonably be expected to have a Material
Adverse Effect.

4.7           No Default.  No Group Member is in default under or with
respect to any of its Contractual Obligations in any respect that would
reasonably be expected to have a Material Adverse Effect.  No Default or Event of Default has occurred
and is continuing.

4.8           Ownership of
Property; Liens.  Each Group Member
has title in fee simple to, or a valid leasehold interest in, all its real
property, and good title to, or a valid leasehold interest in, all its other
property except as would not reasonably be likely to have a Material

 45
 

Adverse Effect, and none
of such property is subject to any Lien except as permitted by Section 7.3.  As of the Effective Date and the Funding
Date, no Group Member owns any real property.

4.9           Intellectual
Property.  Each Group Member owns, or
is licensed to use, all Intellectual Property reasonably necessary for the
conduct of its business as currently conducted. 
Except for such claims and infringements that would not reasonably be
expected to have a Material Adverse Effect, (a) no claim has, to the knowledge
of a Responsible Officer of the Company, been asserted and is pending by any
Person naming a Group Member challenging or questioning the use of any
Intellectual Property or the validity or effectiveness of any Intellectual
Property, nor does a Responsible Officer of the Company know of any valid basis
for any such claim and (b) no Responsible Officer of the Company knows that the
use of Intellectual Property by any Group Member infringes on the rights of any
Person in any material respect.

4.10         Taxes.  Each Group Member has filed or caused to be
filed all Federal, state and other material tax returns that are required to be
filed and has paid all taxes shown to be due and payable on said returns or on
any assessments made against it or any of its property and all other taxes,
fees or other charges imposed on it or any of its property by any Governmental
Authority (other than any the amount or validity of which are currently being
contested in good faith by appropriate proceedings and with respect to which
reserves in conformity with GAAP have been provided on the books of the Company
or its Subsidiaries, as the case may be); no tax Lien has been filed, and, to
the knowledge of a Responsible Officer of the Company, no claim is being
asserted, with respect to any such tax, fee or other charge which would
reasonably be expected to have a Material Adverse Effect.

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

4.12         Labor Matters.  As of the Effective Date, except as, in the
aggregate, would not reasonably be expected to have a Material Adverse
Effect:  (a) there are no strikes or
other labor disputes against any Group Member pending or, to the knowledge of
the Borrower, threatened; (b) hours worked by and payment made to employees of
each Group Member have not been in violation of the Fair Labor Standards Act or
any other applicable Requirement of Law dealing with such matters; and (c) all
payments due from any Group Member on account of employee health and welfare
insurance have been paid or accrued as a liability on the books of the relevant
Group Member.

4.13         ERISA.  Neither a Reportable Event nor an “accumulated
funding deficiency” (within the meaning of Section 412 of the Code or Section
302 of ERISA) has occurred during the five year period prior to the date on
which this representation is made or deemed made with respect to any Plan.  Each Plan has complied in all respects with
the applicable provisions of ERISA and the Code except where the same would not
reasonably be

 46
 

expected to have a
Material Adverse Effect.  No termination
of a Single Employer Plan has occurred, and no Lien in favor of the PBGC or a
Plan has arisen, during such five-year period. 
The present value of all accrued benefits under each Single Employer
Plan (based on those assumptions used to fund such Plans) did not, as of the
last annual valuation date prior to the date on which this representation is
made or deemed made, exceed the value of the assets of such Plan allocable to
such accrued benefits by a material amount. 
Neither the Borrower nor any Commonly Controlled Entity has had a
complete or partial withdrawal from any Multiemployer Plan that has resulted or
could reasonably be expected to result in a material liability under ERISA, and
neither the Company nor any Commonly Controlled Entity would become subject to
any material liability under ERISA if the Company or any such Commonly
Controlled Entity were to withdraw completely from all Multiemployer Plans as
of the valuation date most closely preceding the date on which this
representation is made or deemed made. 
No such Multiemployer Plan is in Reorganization or Insolvent.

4.14         Investment Company
Act; Other Regulations.  No Loan
Party is an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as
amended.  No Loan Party is subject to
regulation under any Requirement of Law (other than Regulation X of the Board)
that limits its ability to incur Indebtedness.

4.15         Subsidiaries.  Except as disclosed to the Interim Administrative
Agent by the Borrower in writing from time to time after the Effective Date,
(a) Schedule 4.15 of the Disclosure Letter sets forth the name and jurisdiction
of incorporation of each Subsidiary and, as to each such Subsidiary, the
percentage of each class of Capital Stock owned by any Loan Party and (b) there
are no outstanding subscriptions, options, warrants, calls, rights or other
agreements or commitments (other than stock options granted to employees or
directors and directors’ qualifying shares) of any nature relating to any
Capital Stock of any Subsidiary, except as created by the Loan Documents.

4.16         Use of Proceeds.  The proceeds of the Term Loans shall be used by
the Company or its Subsidiaries to finance a portion of the Transaction.

4.17         Environmental Matters.  Except as, in the aggregate, would not
reasonably be expected to have a Material Adverse Effect:

(A)          the facilities and properties owned,
leased or operated by any Group Member (during the period so owned, leased or
operated, the “Properties”) do not contain, and to the knowledge of a
Responsible Officer of the Company have not previously contained, any Materials
of Environmental Concern in amounts or concentrations or under circumstances
that constitute or constituted a violation of, or would be reasonably likely to
give rise to liability under, any Environmental Law;

(B)           no Responsible Officer of any Group
Member has received or is aware of any notice of violation, alleged violation,
non-compliance, liability or potential liability regarding environmental
matters

 47
 

or
compliance with Environmental Laws with regard to any of the Properties or the
business operated by any Group Member (during the period so operated, the “Business”), nor does any such Responsible Officer have
knowledge that any such notice will be received or is being threatened;

(C)           Materials of Environmental Concern
have not been transported or disposed of from the Properties in violation of,
or in a manner or to a location that could give rise to liability under, any Environmental
Law, nor have any Materials of Environmental Concern been generated, treated,
stored or disposed of at, on or under any of the Properties in violation of, or
in a manner that could give rise to liability under, any applicable
Environmental Law;

(D)          no judicial proceeding or
governmental or administrative action is pending or, to the knowledge of a
Responsible Officer of the Company, threatened, under any Environmental Law to
which any Group Member is or will be named as a party with respect to the
Properties or the Business, nor are there any consent decrees or other decrees,
consent orders, administrative orders or other orders, or other administrative
or judicial requirements outstanding under any Environmental Law with respect
to the Properties or the Business;

(E)           there has been no release or threat
of release of Materials of Environmental Concern at or from the Properties, or
arising from or related to the operations of any Group Member in connection
with the Properties or otherwise in connection with the Business, in violation
of or in amounts or in a manner that could give rise to liability under
Environmental Laws;

(F)           the Properties and all operations at
the Properties are in compliance, and have in the last five years been in
compliance, with all applicable Environmental Laws, and there is no
contamination at, under or about the Properties or violation of any
Environmental Law with respect to the Properties or the Business; and

(G)           no Group Member has entered into any
agreement pursuant to which it has expressly assumed any liability of any other
Person under Environmental Laws.

4.18         Accuracy of
Information, etc.  The statements and
information contained in this Agreement, the Disclosure Letter, the other Loan
Documents, the Confidential Information Memorandum and any other document,
certificate or statement furnished by or on

 48
 

behalf of any Loan Party in
respect of the Company and its Subsidiaries to the Interim Administrative Agent
or the Lenders, or any of them, for use in connection with the transactions
contemplated by this Agreement or the other Loan Documents, when taken as a
whole, contained as of the date such statement, information, document or
certificate was so furnished (or, in the case of the Confidential Information
Memorandum, as of the Funding Date), no untrue statement of a material fact or
omitted to state a material fact necessary to make the statements contained
herein or therein not misleading, provided, however, that with respect to the
projections and pro forma financial information contained in the materials
referenced above the Company represents only that the same were prepared in
good faith and are based upon estimates and assumptions believed by management
of the Company to be reasonable at the time made, it being recognized by the
Lenders that such financial information as it relates to future events is subject
to inherent uncertainties and contingencies, is not to be viewed as fact and
that actual results during the period or periods covered by such financial information
may differ from the projected results set forth therein by a material amount.  The Scheme Press Release (or the Offer Press
Release if an Offer Conversion has occurred) contain (or will contain) all the
material terms of the Scheme or the Offer, as applicable.

4.19         Security Documents.  Each Blocked Account Control Agreement is
effective to create in favor of the Interim Administrative Agent, for the
benefit of the Secured Parties, a legal, valid and enforceable security
interest in the Collateral described therein and proceeds thereof.  In the case of the Collateral described in a
Blocked Account Control Agreement, when each Blocked Account Control Agreement
is executed and delivered by all parties thereto, the Interim Administrative
Agent, for the benefit of the Secured Parties, shall have a fully perfected
Lien on, and security interest in, all right, title and interest of the Company
in such Collateral and the proceeds thereof, as security for the Interim
Obligations, prior and superior in right to any other Person except as provided
under the applicable Blocked Account Control Agreement with respect to the
securities intermediary a party thereto.

4.20         Solvency.  Immediately after the Transactions to occur
on the Funding Date, each Loan Party is, and after giving effect to the
Acquisition and the incurrence of all Indebtedness and obligations being
incurred in connection herewith and therewith will be and will continue to be,
Solvent.

4.21         Indebtedness.  Immediately after the consummation of the Transactions
to occur on the Funding Date, neither Constellation nor any of its Subsidiaries
has (or will have) any Indebtedness outstanding other than Indebtedness permitted
by the final paragraph of Section 7.2.

4.22         Anti-Terrorism Laws.  (a)  No
Loan Party is in violation of any Anti-Terrorism Law or engages in or conspires
to engage in any transaction that evades or avoids, or has the purpose of
evading or avoiding, or attempts to violate, any of the prohibitions set forth
in any Anti-Terrorism Law.

(b)       None of the Loan Parties or their agents acting or
benefiting in any capacity in connection with the Term Loans or other
transactions hereunder, is any of the following (each a “Blocked Person”):

 49
 

(i)            a person that is listed in the annex
to, or is otherwise subject to the provisions of, Executive Order No. 13224;

(ii)           a person owned or controlled by, or
acting for or on behalf of, any person that is listed in the annex to, or is
otherwise subject to the provisions of, Executive Order No. 13224;

(iii)          a person with which any Lender is
prohibited from dealing or otherwise engaging in any transaction by any
Anti-Terrorism Law;

(iv)          a person that commits, threatens or
conspires to commit or supports “terrorism” as defined in Executive Order No.
13224;

(v)           a person that is named as a “specially
designated national” on the most current list published by the United States
Treasury Department’s Office of Foreign Asset Control at its official website
or any replacement website or other replacement official publication of such
list; or

(vi)          a person who is affiliated or
associated with a person listed above.

(c)       No Loan Party, or to the knowledge of any Loan Party,
any of its agents acting in any capacity in connection with the Term Loans or
other transactions hereunder (i) conducts any business or engages in making or
receiving any contribution of funds, goods or services to or for the benefit of
any Blocked Person or (ii) deals in, or otherwise engages in any transaction
relating to, any property or interests in property blocked pursuant to
Executive Order No. 13224.

SECTION 5.    CONDITIONS
PRECEDENT

5.1           Effective Date.  The obligations of the Loan Parties and the
rights of the Lenders and the Interim Administrative Agent under this Agreement
and the Loan Documents shall not become effective until the date on which each
of the following conditions is satisfied (or waived in accordance with the
terms of this Agreement), which conditions shall be deemed to have been
unconditionally satisfied or waived by the execution by all parties of this
Agreement on the date hereof:

(a)       The Interim Administrative Agent (or its counsel)
shall have received (i) from each party hereto either (x) a counterpart of this
Agreement signed on behalf of such party or (y) written evidence satisfactory
to the Interim Administrative Agent (which may

 50
 

include
telecopy transmission of a signed signature page of this Agreement) that such
party has signed a counterpart of this Agreement and (ii) the Disclosure Letter.

(b)       The Interim Administrative Agent shall have received a
favorable written opinion (addressed to the Interim Administrative Agent and
the Lenders and dated the Effective Date) of (i) Cooley Godward Kronish LLP,
counsel for the Company and Port Authority Technologies, Inc., and (ii) Arthur
Cox, local Irish counsel to the Irish Borrower, in form and substance
reasonably satisfactory to the Interim Administrative Agent, and, in the case
of each such opinion required by this paragraph, covering such other matters
relating to the Loan Parties, the Loan Documents or the Transactions as the Interim
Administrative Agent shall reasonably request. 
The Borrowers hereby request such counsel to deliver such opinions.

(c)       The Interim Administrative Agent shall have received
such documents and certificates relating to the organization, existence and
good standing (or its equivalent, if any) of each Loan Party, the authorization
of the Transactions (to which it is a party) and any other legal matters
relating to the Loan Parties, the Loan Documents or the Transactions (to which
it is a party), in the form reasonably required by or acceptable to the Interim
Administrative Agent.

(d)       The Interim Administrative Agent shall have received
(i) the Fee Letter executed by the Company and (ii) all fees and other amounts
due and payable under the Loan Documents on or prior to the Effective Date, to
the extent invoiced prior to the Effective Date, including all out-of-pocket
expenses (including fees, charges and disbursements of counsel) required to be
reimbursed or paid by any Loan Party under any Loan Document.

(e)       [Intentionally Deleted]

(f)        [Intentionally Deleted]

(g)       The Lenders shall have received the financial
statements referred to in Section 4.1(b) (other than any such financial
statements of Constellation and its Subsidiaries).

(h)       The Lenders shall have received a business plan of the
Company and its Subsidiaries for the fiscal years 2007 through 2014 (including
quarterly projections for the first four fiscal quarters ending after the
Effective Date), with respect to the Group Members together with a certificate
of a Responsible Officer of the Company certifying that such business plan is
based on reasonable estimates, information and assumptions and that such
Responsible Officer has no reason to believe that such business plan is
incorrect or misleading in any material respect (it being understood that such
business plan is subject to significant uncertainties and there can be no
assurance the results therein will be achieved).

 51
 

(i)        The Interim Administrative Agent shall have received
all documentation and other information required by bank regulatory authorities
under applicable “know your customer” and anti-money laundering rules and
regulations, including the Patriot Act, as reasonably requested by the Interim Administrative
Agent.

(j)        The Company shall have entered into an option to
purchase a designated number of Sterling, reasonably acceptable to Morgan
Stanley & Co. Incorporated (or its Affiliates) in its capacity as financial
advisor to the Company in connection with the Acquisition, during the Certain
Funds Period, which option shall have terms and conditions reasonably
satisfactory to Morgan Stanley & Co. Incorporated (or its Affiliates) in
its capacity as financial advisor to the Company in connection with the
Acquisition.

(k)       The Company and its Subsidiaries shall have at least $217,000,000
of cash and Cash Equivalents (which Cash Equivalents shall be as described in
the information previously delivered to the Interim Administrative Agent) and
shall have delivered satisfactory evidence to the Interim Administrative Agent
confirming such amount.

(l)        The Interim Administrative Agent shall have received a
certified copy of the latest draft of the Acquisition Agreement, in form and
substance satisfactory to the Interim Administrative Agent.

(m)      The Interim Administrative Agent shall have received a
certificate from the Company confirming that each of the Company and its
Subsidiaries are members of the same group of companies consisting of a holding
company and its subsidiaries for the purposes of Section 155 of the Companies
Act, 1963 of Ireland, as amended, and Section 35 of the Companies Act, 1990 of
Ireland, as amended.

5.2           Conditions to the
Funding Date.  The obligations of the
Lenders to make Term Loans hereunder shall not become effective unless, on or
prior to the date of the Funding Date, each of the following conditions is
satisfied (or waived in accordance with the terms of this Agreement) which
conditions shall be deemed to have been unconditionally satisfied or waived on
the first funding of a Term Loan hereunder:

(a)       If an Offer Conversion has not occurred, the Interim
Administrative Agent shall have received certified copies of the Scheme Press
Release, the Scheme Circular, the Court Order, the prints of the resolutions
passed at each of the Court Meetings and the extraordinary general meeting, the
certificate of the Registrar of Companies confirming registration of the Court
Order, the executed Acquisition Agreement and, if a receiving agent has been
appointed, an instruction letter from the Company to the receiving agent to
hold the shares acquired by the Company or its nominees pursuant to the Scheme
to the order of the Interim Administrative Agent.

 52
 

(b)       If an Offer Conversion has occurred, the Interim
Administrative Agent shall have received a copy of the announcement that the
Offer has become or been declared unconditional in all respects, including
confirmation that acceptances have been received pursuant to the Offer in
respect of the Capital Stock of Constellation which, when aggregated with (i)
any Capital Stock of Constellation owned by the Company and its Subsidiaries
and (ii) any other Capital Stock of Constellation which are otherwise capable
of being counted towards fulfilling the acceptance condition in accordance with
Note 5 on Rule 10 of the City Code, represent more than 75% of the Capital
Stock of Constellation.

(c)       The Company shall have entered into the Senior Credit
Agreement, which shall have become unconditional in accordance with its terms,
subject only to this Term Facility becoming unconditional in all respects,
without any waiver or modification thereof (other than any waiver or
modification which is not material and adverse to the interests of the
Lenders).

(d)       The Interim Administrative Agent and the Syndication
Agent, as applicable, shall have received all fees and other amounts due and
payable under the Loan Documents on or prior to the Funding Date, to the extent
invoiced prior to the Funding Date, including all out-of-pocket expenses
(including fees, charges and disbursements of counsel) required to be
reimbursed or paid by any Loan Party under any Loan Document or evidence
satisfactory to the Interim Administrative Agent and the Syndication Agent, as
applicable (acting reasonably), that any such fees and other amounts will be
paid out of the proceeds of the Borrowing on the Funding Date.

(e)       The Interim Administrative Agent shall have received a
favorable written opinion (addressed to the Interim Administrative Agent and
the Lenders and dated the Funding Date) of each of Cooley Godward Kronish LLP,
counsel for the Company and its Subsidiaries each in form and substance
reasonably satisfactory to the Interim Administrative Agent, and in the case of
each such opinion required by this paragraph, covering such other matters
relating to the Loan Parties, the Loan Documents or the Transactions as the
Interim Administrative Agent shall reasonably request.  The Borrowers hereby request such counsel to
deliver such opinions.

(f)        [Intentionally Deleted]

(g)       The Interim Administrative Agent shall be satisfied
that all amounts in the Escrow Accounts shall have been (or will, on the same
date as the proceeds of the Term Loans are applied hereunder, be) applied to
satisfy the terms of the Offer or Scheme and to fund the Acquisition.

(h)       The Lenders shall have received the Pro Forma
Financial Statements referred to in Section 4.1(a).

 53
 

5.3           Each Credit Event.  Subject to Section 5.4, the obligation of the
Lenders to make Term Loans on the occasion of any Borrowing is subject to
receipt of the request therefor in accordance herewith and to the satisfaction
of the following conditions:

(a)       The representations and warranties of each Loan Party
set forth in the Loan Documents (other than, on the Effective Date, the
representation and warranty set forth in Section 4.2)) shall be true and
correct in all material respects on and as of the date of such Borrowing
(except to the extent that any representation and warranty expressly relates to
an earlier date, in which case such representation and warranty shall have been
true and correct in all material respects as of such earlier date and except
that after the Effective Date the representation and warranty set forth in
Section 4.2 shall be deemed to refer to the date of the most recent financial
statements presented pursuant to Section 6.1(a)).

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

Each Borrowing (provided
that a conversion or a continuation of a Borrowing shall not constitute a “Borrowing”
for purposes of this Section) other than a Certain Funds Loan shall be deemed
to constitute a representation and warranty by the Borrower on the date thereof
as to the matters specified in this Section.

5.4           Certain Funds.

(a)       Notwithstanding anything to the contrary in this
Section 5 or any other provision in a Loan Document during the Certain Funds
Period, the obligation of each Lender to make a Term Loan on the occasion of
any Borrowing which is a Certain Funds Loan is subject only to the satisfaction
or waiver of the conditions set forth in Sections 5.1 and 5.2 and receipt of
the request therefor in accordance herewith and to the satisfaction or waiver
of the following conditions (and for the avoidance of doubt Section 5.3 shall
not apply to a Certain Funds Loan):

(i)            no Major Event of Default is
outstanding or would result from the making of any such Borrowing;

(ii)           it is not unlawful for the Borrowers
to exercise any of their Borrowing rights or a Lender to perform any of its
lending obligations under this Agreement, in each case in respect of such
Certain Funds Loan; provided that, if it is unlawful for a Lender to
perform its lending obligations in respect of such Certain Funds Loans, this in
itself will not preclude each other Lender from performing its lending
obligations in respect of such Certain Funds Loans; and

 54
 

(iii)          neither Borrower shall have
cancelled or rescinded this Agreement.

(b)       Unless any of the conditions set out in Sections
5.4(a)(i) to (iii) (inclusive) is not satisfied or waived at the relevant time,
during the Certain Funds Period none of the Lenders or the Agents shall be
entitled to:

(i)            cancel any of its Commitments to the
extent that to do so would prevent or limit the making of a Certain Funds Loan
under and as defined in this Agreement;

(ii)           rescind, terminate or cancel this
Agreement or exercise any similar right or remedy or make or enforce any claim
under the Loan Documents it may have to the extent that to do so would prevent
or limit the making of a Certain Funds Loan or the utilization thereof for a
Permitted Purpose under and as defined in this Agreement;

(iii)          refuse to participate in the making
of a Certain Funds Loan or the utilization thereof for a Permitted Purpose
under and as defined in this Agreement;

(iv)          exercise any right of setoff or
counterclaim to the extent that so doing would prevent or limit the making of a
Certain Funds Loan or the utilization thereof for a Permitted Purpose under and
as defined in this Agreement; or

(v)           cancel, accelerate or cause
repayment or prepayment of any amounts owing hereunder or under any other Loan
Document to the extent that so doing would prevent or limit the making of a
Certain Funds Loan or the utilization thereof for a Permitted Purpose under and
as defined in this Agreement.

Nothing in this Section
5.4 will affect the rights of any of the Lenders or the Interim Administrative
Agent in respect of any Event of Default not cured or waived at the expiry of
the Certain Funds Period, irrespective of whether any Event of Default occurred
during the Certain Funds Period or not.

 55
 

SECTION 6.    AFFIRMATIVE
COVENANTS

The Borrowers hereby agree that, so long as the
Commitments remain in effect or any Term Loan or other amount is owing to any
Lender or Agent hereunder, the Borrowers shall and shall cause each of their
Subsidiaries to:

6.1           Financial Statements.  Furnish to the Interim Administrative Agent
and each Lender:

(a)       as soon as available, but in any event on the earlier
of the date 90 days (or, solely with respect to the fiscal year in which the
Acquisition occurred, 120 days) after the end of each fiscal year of the Company
and the date that such information is filed with the SEC, a copy of the audited
consolidated balance sheet of the Company and its consolidated Subsidiaries as
at the end of such year and the related audited consolidated statements of
income and of cash flows for such year, setting forth in each case in
comparative form the figures for the previous year, reported on without a “going
concern” or like qualification or exception, or qualification arising out of
the scope of the audit, by Ernst & Young LLP or other independent certified
public accountants of nationally recognized standing; and

(b)       as soon as available, but in any event on the earlier
of the date that is 45 days after the end of each of the first three quarterly
periods of each fiscal year of the Company and the date that such information
is filed with the SEC, the unaudited consolidated balance sheet of the Company
and its consolidated Subsidiaries as at the end of such quarter and the related
unaudited consolidated statements of income and of cash flows for such quarter
and the portion of the fiscal year through the end of such quarter, setting
forth in each case in comparative form the figures for the previous year,
certified by a Responsible Officer as being fairly stated in all material
respects (subject to normal year end audit adjustments and the absence of
footnotes); and

(c)       as soon as available, but in any event not later than
the date that is 30 days prior to the Funding Date, the unaudited pro forma
consolidated balance sheet of the Company and its consolidated Subsidiaries as
at the end of the last fiscal quarter for which financial statements have been
delivered pursuant to Section 6.1(b) (including the notes thereto) and the
unaudited pro forma consolidated income statements for the twelve-month period
ending as at the end of such fiscal quarter (such financial statements, the “Pro
Forma Financial Statements”).

All such financial
statements shall be complete and correct in all material respects and shall be
prepared in reasonable detail and in accordance with GAAP applied consistently
throughout the periods reflected therein and with prior periods (except as
approved by such accountants or officer, as the case may be, and disclosed
therein); provided that the financial information of Constellation and
its Subsidiaries included in the Pro Forma Financial Statements shall not be

 56
 

prepared in accordance
with GAAP but shall be prepared with good faith adjustments applied
consistently throughout the period reflected therein.

6.2           Certificates; Other
Information.  Furnish to the Interim
Administrative Agent and each Lender (or, in the case of clause (i), to the
relevant Lender):

(a)       concurrently with the delivery of the financial
statements referred to in Section 6.1(a), a certificate of the independent
certified public accountants reporting on such financial statements stating
that in making the examination necessary therefor no knowledge was obtained of
any Default or Event of Default, except as specified in such certificate, it
being understood that such certificate shall be limited to the items that
independent certified accountants are permitted to cover in such certificates
pursuant to their professional standards and customs of the profession;

(b)       concurrently with the delivery of any financial
statements pursuant to Section 6.1 (or, in the case of (ii)(y) below,
concurrently with the delivery of any financial statements pursuant to 6.1(a)),
(i) a certificate of a Responsible Officer of the Company stating that, to the
best of each such Responsible Officer’s knowledge, each Loan Party during such
period has observed or performed all of its covenants and other agreements, and
satisfied every condition, contained in this Agreement and the other Loan
Documents to which it is a party to be observed, performed or satisfied by it,
and that such Responsible Officer has obtained no knowledge of any Default or
Event of Default except as specified in such certificate and (ii) in the case
of quarterly or annual financial statements, (x) a Compliance Certificate
containing all information and calculations necessary for determining
compliance by each Group Member with the provisions of Section 7.1 as of the
last day of the fiscal quarter or fiscal year of the Company, as the case may
be, and, if applicable, for determining the Applicable Margins, and (y) to the
extent not previously disclosed to the Interim Administrative Agent, a listing
of any Intellectual Property acquired by any Loan Party since the date of the
most recent list delivered pursuant to this clause (y) (or, in the case of the
first such list so delivered, since the Effective Date);

(c)       as soon as available, and in any event no later than
45 days after the end of each fiscal year of the Company, a consolidated budget
for the following fiscal year (including a projected consolidated balance sheet
of the Company and its Subsidiaries as of the end of the following fiscal year,
the related consolidated statements of projected cash flow, projected changes
in financial position and projected income and a description of the underlying
assumptions applicable thereto for such fiscal year), and, promptly after such
have been presented to the Board of Directors of the Company, significant
revisions, if any, of such budget and projections with respect to such fiscal
year (collectively, the “Projections”),
which Projections shall in each case be accompanied by a certificate of a
Responsible Officer of the Company stating that such Projections are based on
reasonable estimates, information and assumptions (it being understood
Projections are subject to significant uncertainties and there can be no assurance
the results therein will be achieved);

 57
 

(d)       if the Company is not then a reporting company under
the Securities Exchange Act of 1934, as amended, within 45 days after the end
of each fiscal quarter of the Company (or 90 days, in the case of the last fiscal
quarter of any fiscal year), a narrative discussion and analysis of the
financial condition and results of operations of the Company and its
Subsidiaries for such fiscal quarter and for the period from the beginning of
the then current fiscal year to the end of such fiscal quarter, as compared to
the portion of the Projections covering such periods and to the comparable
periods of the previous year;

(e)       within five days after the same are sent, copies of
all financial statements and reports that the Company sends to the holders of
any class of its debt securities or public equity securities and, within five
days after the same are filed, copies of all financial statements and reports
that the Company may make to, or file with, the SEC;

(f)        promptly, after any request by the Interim
Administrative Agent, any final “management” letter submitted by such
accountants to management in connection with their annual audit;

(g)       to the extent not otherwise delivered to the Interim
Administrative Agent, within five days after the same are sent, copies of any
notices or information that the Company sends to the holders of the Senior
Loans;

(h)       no later than five Business Days prior to the
effectiveness thereof, copies of substantially final drafts of any proposed amendment,
supplement, waiver or other modification with respect to the Senior Loan
Documents; and

(i)        promptly, such additional financial and other
information as any Lender may from time to time reasonably request, including
with respect to the Patriot Act.

6.3           Payment of
Obligations.  Pay, discharge or
otherwise satisfy at or before maturity or before they become delinquent, as
the case may be, all its material obligations of whatever nature, except where
the amount or validity thereof is currently being contested in good faith by
appropriate proceedings and reserves in conformity with GAAP with respect
thereto have been provided on the books of the relevant Group Member.

6.4           Maintenance of
Existence; Compliance.  (a)  (i) 
Preserve, renew and keep in full force and effect its organizational
existence and (ii) take all reasonable action to maintain all rights,
privileges and franchises necessary or desirable in the normal conduct of its
business, except, in each case, as otherwise permitted by Section 7.4 and
except, in the case of clause (ii) above, to the extent that failure to do so would
not reasonably be expected to have a Material Adverse Effect; and (b) comply
with all Contractual Obligations, Organizational Documents and Requirements of
Law (including, without limitation, ERISA and the Code) except to the extent
that failure to comply therewith would not reasonably be expected to have a
Material Adverse Effect.

 58
 

6.5           Maintenance of
Property; Insurance.  (a)  Keep all property useful and necessary in its
business in good working order and condition, ordinary wear and tear excepted
and (b) maintain with financially sound and reputable insurance companies
insurance on all its property in at least such amounts and against at least
such risks (but including in any event public liability, product liability and
business interruption) as are usually insured against in the same general area
by companies engaged in the same or a similar business.

6.6           Inspection of
Property; Books and Records; Discussions. 
(a)  Keep proper books of records
and account in which full, true and correct entries in conformity with GAAP and
all Requirements of Law shall be made of all dealings and transactions in
relation to its business and activities and (b) permit representatives of the Interim
Administrative Agent or any Lender, at their own expense, to visit and inspect
any of its properties and examine and make abstracts from any of its books and
records at any reasonable time, on prior reasonable notice and as often as may
reasonably be desired and to discuss the business, operations, properties and
financial and other condition of the Group Members with officers and employees
of the Group Members and with their independent certified public accountants.

6.7           Notices.  Promptly give notice to the Interim
Administrative Agent and each Lender of:

(a)       the occurrence of any Default or Event of Default;

(b)       any litigation, investigation or proceeding that may
exist at any time between any Group Member and any Governmental Authority, that
if adversely determined, as the case may be, would reasonably be expected to
have a Material Adverse Effect;

(c)       any litigation or proceeding affecting any Group
Member (i) in which the aggregate amount claimed against the Group Member and
not covered by insurance exceeds $2,500,000, (ii) in which injunctive or
similar relief is sought and which would reasonably be expected to have a
Material Adverse Effect or (iii) which relates to any Loan Document;

(d)       the following events, as soon as possible and in any
event within 30 days after the Company knows or has reason to know
thereof:  (i) the occurrence of any
Reportable Event with respect to any Plan, a failure to make any required
contribution to a Plan, the creation of any Lien in favor of the PBGC or a Plan
or any withdrawal from, or the termination, Reorganization or Insolvency of,
any Multiemployer Plan or (ii) the institution of proceedings or the taking of
any other action by the PBGC or the Company or any Commonly Controlled Entity
or any Multiemployer Plan with respect to the withdrawal from, or the
termination, Reorganization or Insolvency of, any Plan; and

(e)       any development or event that has had or could
reasonably be expected to have a Material Adverse Effect or, in lieu thereof, at
any time the Company is a

 59
 

reporting
company under the Securities Exchange Act of 1934, as amended, delivery of each
8-K filed by the Company with the SEC.

Each notice pursuant to
this Section 6.7 shall be accompanied by a statement of a Responsible Officer
setting forth details of the occurrence referred to therein and stating what
action the Borrower or the relevant Subsidiary proposes to take with respect
thereto.

6.8           Environmental Laws.  (a) 
Comply with, and ensure compliance in all material respects by all
tenants and subtenants, if any, with, all applicable Environmental Laws, and
obtain and comply with and maintain, and ensure that all tenants and subtenants
obtain and comply in all material respects with and maintain, any and all
licenses, approvals, notifications, registrations or permits required by
applicable Environmental Laws, except, in each case, to the failure to do so would
not reasonably be expected to have a Material Adverse Effect.

(b)       Conduct and complete all investigations, studies,
sampling and testing, and all remedial, removal and other actions required
under Environmental Laws and promptly comply with all lawful orders and
directives of all Governmental Authorities regarding Environmental Laws, except
to the extent the failure to do so would not reasonably be expected to have a
Material Adverse Effect.

6.9           Interest Rate
Protection; Hedging Requirements.  In
the case of the Company, prior to the initial Funding Date, enter into, and
thereafter maintain, Hedge Agreements to the extent necessary to provide that
at least 50% of the aggregate principal amount of Term Loans that the Company
reasonably anticipates will be outstanding after the Funding Date (such amount,
the “Anticipated Amount”) is subject to either a fixed interest rate or
interest rate protection for a period of not less than 2-1/2 years (calculated
based on the weighted average of the maturities of all such Hedge Agreements),
which Hedge Agreements shall have other terms and conditions reasonably
satisfactory to the Interim Administrative Agent; provided that if the
aggregate principal amount of Term Loans outstanding 60 days after the Funding
Date is higher than the Anticipated Amount (such amount, the “Excess Amount”),
then the Company shall promptly enter into Hedge Agreements meeting the requirements
of this Section 6.9 with respect to the Excess Amount.

6.10         [Intentionally Deleted]

6.11         Offer Conversion.  If the Company intends to withdraw (or cause
the withdrawal of) the Scheme and to make an Offer (such actions, the “Offer
Conversion”), (a) notify the Interim Administrative Agent by written notice
(the “Offer Conversion Notice”) as soon as reasonably practicable of its
intent to do so and (b) cause the Scheme to be withdrawn and an Offer Press
Release to be issued in accordance with Section 6.13(a).

6.12         Conduct of the Scheme.
Unless an Offer Conversion takes place, the Company shall:

 60
 

(a)       Scheme Press Release. 
Issue the Scheme Press Release promptly after the date of this Agreement
and in any event within five Business Days of the date of this Agreement.

(b)       Scheme Documents.  (i)  Dispatch the Scheme Circular as soon as
practicable after satisfaction or waiver in accordance with Section 7.17(c) of
the pre-conditions set forth in the Scheme Press Release, and in any event
within 28 days after satisfaction or waiver in accordance with Section 7.17(c) of
the pre-conditions set forth in the Scheme Press Release or within such longer
period as the Panel may permit.

(ii)           Ensure that the terms and conditions
of the Scheme Circular are consistent in all material respects with the transaction
described in the Draft Acquisition Agreement and Scheme Press Release (other
than any inconsistency which would not be material and adverse to the interest
of the Lenders) and comply with applicable law.

(iii)          Ensure that the terms and conditions
of the Acquisition Agreement are consistent in all material respects with the
terms of the Draft Acquisition Agreement (other than any inconsistency which
would not be material and adverse to the interests of the Lenders) except that
the cash consideration payable pursuant to the Scheme and the other terms and
conditions may be different to that specified in the Draft Acquisition
Agreement to the extent agreed in writing with the Interim Administrative Agent.

(c)       Progress of the Scheme. 
Subject to any confidentiality restrictions entered into in good faith
and binding on them and consistent with the preservation of all privileged
communications as such:  (i) keep the Interim
Administrative Agent informed as to any material developments in relation to
the Scheme; and (ii) promptly (following receipt from the Interim
Administrative Agent of a written request itemizing the same in sufficient
detail to enable the Company or Bidco to identify the same specifically)
provide on a non-reliance basis the Interim Administrative Agent with
information as to the progress of the Scheme and with all material written
information and material written formal advice on a specific circumstance (and
not for the avoidance of doubt of a generic or general nature) received by it
in relation to the Scheme (excluding for the avoidance of doubt any preliminary
advice which is later superseded). 
Notify the Interim Administrative Agent promptly following the issuance
of the Court Order.

(d)       Announcements.  (i) Promptly
deliver to the Interim Administrative Agent: 
(x) copies of all press and other public announcements made by itself in
connection with or in relation to the Scheme; and (y) subject to any
confidentiality restrictions entered into in good faith and binding on them,
any material, written, formal documents or material written, formal statements
issued to and received by them and binding on them from the Panel, the OFT, the
Competition Commission or any other regulatory authority (including the Courts)
in relation to the Scheme; and (ii) where any announcement, press release or
publicity material to be issued

 61

by
it or on its behalf refers to the Interim Administrative Agent, the Syndication
Agent or any other Lender, the Lead Arranger, or any Agent or the Term
Facility, not release or permit such announcement, press release or publicity
material to be released by any Group Member until the Interim Administrative
Agent has given its consent to such references to the Interim Administrative
Agent, the Syndication Agent or any other Lender, the Lead Arranger or any
other Agent or the Term Facility (such approval not to be unreasonably withheld
or rendered subject to unreasonable conditions and to be given or refused
within 24 hours of receipt by the Interim Administrative Agent of the relevant
material and, if no response is received within such 24 hour period, consent is
deemed to be given); provided that no such consent or approval will be
required to make an announcement, press release, or publicity material required
to be made to comply with the City Code and any other relevant laws or
regulation (but the Company and Bidco shall use all reasonable endeavors to
consult with the Interim Administrative Agent prior to making the announcement
and to avoid references therein to the Interim Administrative Agent, the
Syndication Agent or any other Lender, the Lead Arranger or any other Agent or
the Term Facility).

(e)       Conduct of the Scheme. 
Ensure that each Scheme Document, all other documents issued by it or on
its behalf in connection with the Scheme and the conduct of the Scheme comply
in all material respects with all applicable laws and regulations (including
the requirements of the City Code) and with the terms of the Acquisition
Agreement, use commercially reasonable efforts to obtain, maintain and renew,
as and when necessary, all material consents from all governmental and other
regulatory authorities required in connection with the Scheme, and ensure that
all of its material obligations in connection with the Scheme are performed in
all material respects, it being understood that the Company shall not be
obligated to consummate the Acquisition.

(f)        Certificate of Registration of Sanctioning of the
Scheme.  Ensure that a copy of the Court Order is
delivered to the Registrar of Companies and obtain a certificate of
registration relating to the same within two Business Days of receipt thereof.

6.13         Conduct of the Offer.  If an Offer Conversion has occurred:

(a)       Offer Press Release. 
Issue the Offer Press Release promptly after the date the Offer
Conversion Notice is delivered and in any event within five Business Days of
the date the Offer Conversion Notice is delivered.

(b)       Offer Document.  Dispatch the
Offer Document as soon as practicable, and in any event within 28 days after
satisfaction of the pre-conditions set forth in the Offer Press Release or
within such longer period as the Panel may permit, and ensure that the terms
and conditions of the Offer Document are (i) consistent in all material
respects with the terms of the Offer Press Release and (ii) are consistent as
regards all terms in any way material to the interests of the Lenders with
those terms recorded in the Scheme Circular (other than any inconsistency which
would not be material and adverse to the interests of the Lenders, including an
acceptance set at 90% of the Shares in Constellation to which the Offer relates
(or such lower

 62
 

percentage
as the Company may, subject to the City Code, decide; provided that such
percentage shall not be lower than 75%)) except that the cash consideration
payable pursuant to the Offer Document may not be higher than that specified in
the Offer Press Release and the other terms and conditions may be different to
that specified in the Offer Press Release to the extent agreed in writing with
the Interim Administrative Agent.

(c)       Progress of the Offer. 
Subject to any confidentiality restrictions entered into in good faith
and binding on them:  (i) keep the Interim
Administrative Agent informed as to any material developments in relation to
the Offer; and (ii) promptly (following receipt from the Interim Administrative
Agent of a written request itemizing the same in sufficient detail to enable
the Company or Bidco to identify the same specifically) provide on a
non-reliance basis the Interim Administrative Agent with information as to the
progress of the Offer and with all material written information and material,
written formal advice on a specific circumstance (and not for the avoidance of
doubt of a generic or general nature) received by it in relation to the Offer
(excluding for the avoidance of doubt any preliminary advice which is later
superseded).

(d)       Announcements.  (i) Promptly
deliver to the Interim Administrative Agent: 
(x) copies of all press and other public announcements made by itself in
connection with or in relation to the Offer; and (y) subject to any confidentiality
restrictions entered into in good faith and binding on them, any material,
written, formal documents or material written, formal statements issued to and
received by them and binding on them from the Panel, the OFT, the Competition
Commission or any other regulatory authority (including the Courts) in relation
to the Offer; and (ii) where any announcement, press release or publicity
material to be issued by it or on its behalf refers to the Interim
Administrative Agent, the Syndication Agent or any other Lender, the Lead
Arranger, or any Agent or the Term Facility, not release or permit such
announcement, press release or publicity material to be released by any Group
Member until the Interim Administrative Agent has given its consent to such
references to the Interim Administrative Agent, the Syndication Agent or any
other Lender, the Lead Arranger or any other Agent or the Term Facility (such
approval not to be un-reasonably withheld or rendered subject to unreasonable
conditions and to be given or refused within 24 hours of receipt by the Interim
Administrative Agent of the relevant material and, if no response is received
within such 24 hour period, consent is deemed to be given); provided
that no such consent or approval will be required to make an announcement,
press release, or publicity material required to be made to comply with the
City Code and any other relevant laws or regulation (but the Company and Bidco
shall use all reasonable endeavors to consult with the Interim Administrative
Agent prior to making the announcement and to avoid references therein to the Interim
Administrative Agent, the Syndication Agent or any other Lender, the Lead
Arranger or any other Agent or the Term Facility).

(e)       Conduct of the Offer. 
Ensure that the Offer Press Release, the Offer Document, all other
documents issued by it or on its behalf in connection with the Offer and the
conduct of the Offer comply in all material respects with all applicable laws
and regulations (including the requirements of the City Code), use commercially
reasonable efforts to obtain,

 63
 

maintain
and renew, as and when necessary, all material consents from all governmental
and other regulatory authorities required in connection with the Offer, and ensure
that all of its material obligations in connection with the Offer are performed
in all material respects, it being understood that the Company shall not be
obligated to consummate the Acquisition.

(f)        Purchase of Remaining Constellation Shares. 
Ensure that Compulsory Purchase Notices are dispatched within 10
Business Days of the Company, or Bidco, being entitled to dispatch such
notices.

6.14         Further Assurances.  From time to time execute and deliver, or
cause to be executed and delivered, such additional instruments, certificates
or documents, and take all such actions, as the Interim Administrative Agent
may reasonably request for the purposes of implementing or effectuating the
provisions of this Agreement and the other Loan Documents.  Upon the proper exercise by the Interim
Administrative Agent of any power, right, privilege or remedy pursuant to this
Agreement or the other Loan Documents which requires any consent, approval,
recording qualification or authorization of any Governmental Authority, the Borrower
will execute and deliver, or will cause the execution and delivery of, all
applications, certifications, instruments and other documents and papers that
the Interim Administrative Agent or such Lenders may be required to obtain from
the Borrower or any of its Subsidiaries for such governmental consent,
approval, recording, qualification or authorization.

6.15         Rated Credit Facility;
Corporate Ratings.  Use commercially
reasonable efforts to (a) have a formal ratings presentation to each of S&P
and Moody’s with respect to the Company and the Term Facility at such date as
the Interim Administrative Agent deems necessary or appropriate, (b) cause the
Term Facility made available under this Agreement to be rated by S&P and
Moody’s no later than 30 days prior to the Funding Date, (c) cause the Term
Facility to be continuously rated thereafter by S&P and Moody’s, (d) cause
the Company to receive a Corporate Family Rating and Corporate Rating no later
than 30 days prior to the Funding Date and (e) cause the Company to
continuously receive a Corporate Family Rating and Corporate Rating.

6.16         Syndication.  Following the Effective Date, actively assist
the Lead Arranger in achieving a Successful Syndication of the Term Facility.  Such assistance shall include (a) the Company
providing and causing its advisors to provide to the Lead Arranger promptly
upon request all information reasonably deemed necessary by the Lead Arranger
to complete such syndication, including, but not limited to, information and
evaluations prepared by the Company and its advisors relating to the
Transactions, (b) the Company’s assistance in the preparation of the
Confidential Information Memorandum to be used in connection with the
syndication of the Term Facility, which shall be substantially complete at
least 30 calendar days prior to the Funding Date, (c) the Company using its
commercially reasonable efforts to ensure that the syndication efforts of the
Lead Arranger benefit materially from the Company’s existing lending
relationships and (d) the Company otherwise assisting the Lead Arranger in its
syndication efforts, including by making the Company’s officers and advisors
available from time to time to attend and make presentations regarding the
business and prospects of the Company, as appropriate, at one or more meetings
of prospective Lenders at least 30 calendar days prior to the Funding Date.

 64
 

6.17         Blocked Accounts; Escrow
Accounts.

(a)       Within fifteen days after the Effective Date (or such
longer period as may be agreed by the Interim Administrative Agent in its sole discretion),
deposit cash and Cash Equivalents of the Company and its Subsidiaries in one or
more Blocked Accounts in an aggregate amount no less than $217,000,000.

(b)       Subject to clause (c) below, maintain such Blocked
Accounts with an aggregate minimum balance of $217,000,000 until any
commitments with respect to the Term Loans have been terminated and the Term Loans
have been indefeasibly paid in full.

(c)       No later than five days prior to the Funding Date,
liquidate Cash Equivalents of the Company and its Subsidiaries and deposit all
proceeds therefrom together with cash of the Company and its Subsidiaries in an
aggregate amount no less than $217,000,000 in one or more Escrow Accounts to be
used to satisfy the Offer or Scheme and to fund, in part, the Acquisition.

SECTION 7.    NEGATIVE
COVENANTS

The Borrowers hereby agree that, so long as the
Commitments remain in effect or any Term Loan or other amount is owing to any
Lender or Agent hereunder, the Borrowers shall not, and shall not permit any of
their Subsidiaries to, directly or indirectly:

7.1           Financial Condition
Covenants.  (a)  Consolidated Leverage Ratio.  Commencing with the first full fiscal quarter
after the quarter in which the Funding Date occurs, permit the Consolidated
Leverage Ratio as at the last day of any period of four consecutive fiscal
quarters of the Company ending with any fiscal quarter set forth below to
exceed the ratio set forth below opposite such fiscal quarter:

	
  Fiscal Quarter

  	
   

  	
  Consolidated

  Leverage Ratio

  $300 Million Base Case

  	
   

  	
  Consolidated

  Leverage Ratio

  $180 Million Base Case

  	
   

  
	
  June 30, 2007

  	
   

  	
  4.00
  to 1.00

  	
   

  	
  2.50
  to 1.00

  	
   

  
	
  September 30,
  2007

  	
   

  	
  4.00
  to 1.00

  	
   

  	
  2.50
  to 1.00

  	
   

  
	
  December 31,
  2007

  	
   

  	
  4.00
  to 1.00

  	
   

  	
  2.50
  to 1.00

  	
   

  
	
  March 31, 2008

  	
   

  	
  3.75
  to 1.00

  	
   

  	
  2.25
  to 1.00

  	
   

  
	
  June 30, 2008

  	
   

  	
  3.75
  to 1.00

  	
   

  	
  2.25
  to 1.00

  	
   

  
	
  September 30,
  2008

  	
   

  	
  3.75
  to 1.00

  	
   

  	
  2.25
  to 1.00

  	
   

  
	
  December 31,
  2008

  	
   

  	
  3.75
  to 1.00

  	
   

  	
  2.25
  to 1.00

  	
   

  
	
  March 31, 2009

  	
   

  	
  3.25
  to 1.00

  	
   

  	
  1.75
  to 1.00

  	
   

  
	
  June 30, 2009

  	
   

  	
  3.25
  to 1.00

  	
   

  	
  1.75
  to 1.00

  	
   

  
	
  September 30,
  2009

  	
   

  	
  3.25
  to 1.00

  	
   

  	
  1.75
  to 1.00

  	
   

  
	
  December 31,
  2009

  	
   

  	
  3.25
  to 1.00

  	
   

  	
  1.75
  to 1.00

  	
   

  

 

 65
 

 

	
  Fiscal Quarter

  	
   

  	
  Consolidated

  Leverage Ratio

  $300 Million Base Case

  	
   

  	
  Consolidated

  Leverage Ratio

  $180 Million Base Case

  	
   

  
	
  March 31, 2010

  	
   

  	
  2.75
  to 1.00

  	
   

  	
  1.50
  to 1.00

  	
   

  
	
  June 30, 2010

  	
   

  	
  2.75
  to 1.00

  	
   

  	
  1.50
  to 1.00

  	
   

  
	
  September 30,
  2010

  	
   

  	
  2.75
  to 1.00

  	
   

  	
  1.50
  to 1.00

  	
   

  
	
  December 31,
  2010

  	
   

  	
  2.75
  to 1.00

  	
   

  	
  1.50
  to 1.00

  	
   

  
	
  March 31, 2010

  	
   

  	
  2.25
  to 1.00

  	
   

  	
  1.50
  to 1.00

  	
   

  
	
  June 30, 2010

  	
   

  	
  2.25
  to 1.00

  	
   

  	
  1.50
  to 1.00

  	
   

  
	
  September 30,
  2010

  	
   

  	
  2.25
  to 1.00

  	
   

  	
  1.50
  to 1.00

  	
   

  
	
  December 31, 2010 and
  each quarter thereafter

  	
   

  	
  2.25 to 1.00

  	
   

  	
  1.50 to 1.00

  	
   

  

 

; provided that if the Incurred Amount (as
defined below) is less than $300,000,000 but greater than $180,000,000, the
numerator in each of the above ratios shall be adjusted as follows by (a) the
product of the Ratio Difference times the Adjustment Factor plus (b) the
numerator in the ratio set forth above for the $180 Million Base Case for the
applicable quarter.

For purposes of this Section 7.1(a), the following
terms shall have the following meanings:

“$180 Million Base
Case”: the incurrence by the Company and the Irish Borrower on the Funding
Date of an aggregate principal amount of Term Loans and Senior Loans less than
or equal to $180,000,000.

“$300 Million Base
Case”: the incurrence by the Company and the Irish Borrower on the Funding
Date of an aggregate principal amount of Term Loans and Senior Loans equal to
or greater than $300,000,000.

“Adjustment Factor”:
(a) the Incurred Amount minus $180,000,000 divided by (b) $120,000,000.

“Incurred Amount”:
the aggregate principal amount of Term Loans and Senior Loans incurred on the
Funding Date.

“Ratio Difference”:
(a) the numerator in the ratio set forth above for the $300 Million Base Case
for the applicable quarter minus (b) the numerator in the ratio set
forth above for the $180 Million Base Case.

 66
 

(b)       Consolidated Interest Coverage Ratio. 
Commencing with the first full fiscal quarter after the quarter in which
the Funding Date occurs, permit the Consolidated Interest Coverage Ratio for
any period of four consecutive fiscal quarters of the Company to be less than
the (a) in the $180 Million Base Case, 3.50 to 1.00 at the end of each fiscal
quarter and (b) in the $300 Million Base Case, 3.00 to 1.00; provided
that if the Incurred Amount (as defined below) is less than $300,000,000 but
greater than $180,000,000, the numerator in each of the above ratios shall be
adjusted as follows: (a) the numerator in the ratio set forth above for the
$180 Million Base Case for the applicable quarter minus (b) the product
of the Ratio Difference times the Adjustment Factor.

For purposes of this
Section 7.1(b), the following terms shall have the following meanings:

“$180 Million Base
Case”: the incurrence by the Company and the Irish Borrower on the Funding
Date of an aggregate principal amount of Term Loans and Senior Loans less than
or equal to $180,000,000.

“$300 Million Base
Case”: the incurrence by the Company and the Irish Borrower on the Funding
Date of an aggregate principal amount of Term Loans and Senior Loans equal to
or greater than $300,000,000.

“Adjustment Factor”:
(a) the Incurred Amount minus $180,000,000 divided by (b) $120,000,000.

“Incurred Amount”:
the aggregate principal amount of Term Loans and Senior Loans incurred on the
Funding Date.

“Ratio Difference”:
(a) the numerator in the ratio set forth above for the $180 Million Base Case
for the applicable quarter minus (b) the numerator in the ratio set
forth above for the $300 Million Base Case.

7.2           Indebtedness.  Create, issue, incur, assume, become liable
in respect of or suffer to exist any Indebtedness, except:

(a)       Indebtedness of any Loan Party pursuant to any Loan
Document;

(b)       Indebtedness (i) of the Company to any Subsidiary,
(ii) of any Wholly Owned Subsidiary Guarantor to the Company or any other
Subsidiary, (iii) of any Foreign Subsidiary to any other Foreign Subsidiary and
(iv) subject to Section 7.8(h), of any Foreign Subsidiary to the Company or any
Wholly Owned Subsidiary Guarantor; provided that any such Indebtedness
is evidenced by, and subject to the provisions (including the subordination
provisions) of the Intercompany Note;

 67
 

(c)       Guarantee Obligations incurred in the ordinary course
of business by the Company or any of its Subsidiaries of obligations of the Company,
any Wholly Owned Subsidiary Guarantor and, subject to Section 7.8(h), of any
Foreign Subsidiary;

(d)       Indebtedness outstanding on the date hereof and listed
on Schedule 7.2(d) of the Disclosure Letter and any refinancings, refundings,
renewals or extensions thereof (without increasing, or shortening the maturity
of, the principal amount thereof);

(e)       Indebtedness (including, without limitation, Capital
Lease Obligations) secured by Liens permitted by Section 7.3(g) in an aggregate
principal amount not to exceed $15,000,000 at any one time outstanding;

(f)        Indebtedness and Guarantee Obligations in respect of
the Senior Credit Agreement;

(g)       Hedge Agreements permitted under Section 7.12;

(h)       Indebtedness in respect of performance, bid, surety,
indemnity, appeal bonds, completion guarantees and other obligations of like
nature and guarantees and/or obligations as an account party in respect of the
face amount of letters of credit in respect thereof, in each case securing
obligations not constituting Indebtedness for borrowed money (including worker’s
compensation claims, environmental remediation and other environmental matters
and obligations in connection with self-insurance or similar requirements)
provided in the ordinary course of business;

(i)        Indebtedness arising from the endorsement of
instruments in the ordinary course of business;

(j)        Indebtedness of a Person existing at the time such
Person became a Subsidiary of any Loan Party (such Person, an (“Acquired
Person”), together with all Indebtedness assumed by such Loan Party or any
of its Subsidiaries in connection with any acquisition permitted under Section
7.8 (other than the Acquisition), but only to the extent that (i) such
Indebtedness was not created or incurred in contemplation of such Person
becoming a Subsidiary or such acquisition, (ii) any Liens securing such
Indebtedness attach only to the assets of the Acquired Person and (iii) the
aggregate principal amount of such Indebtedness does not exceed $15,000,000 at
any one time outstanding;

(k)       Earn-Out Obligations;

 68
 

(l)        unsecured Permitted Subordinated Indebtedness incurred
to finance a Permitted Acquisition, in each case incurred simultaneously with
the consummation of such Permitted Acquisition, in an aggregate principal
amount not to exceed (i) $50,000,000 at any one time outstanding or (ii)
$75,000,000 at any one time outstanding if the pro forma Consolidated Leverage
Ratio giving effect to the incurrence of such Indebtedness (calculated using
the most recent financial statements delivered pursuant to Section 6.1), does
not exceed 2.0 to 1.0;

(m)      Indebtedness relating to tenant improvement loans
incurred in the ordinary course of business;

(n)       Indebtedness of Constellation or its Subsidiaries
existing on the date the Acquisition is consummated, but only to the extent
that (i) such Indebtedness was not created or incurred in contemplation of the
Acquisition, (ii) any Liens securing such Indebtedness attach only to the
assets of Constellation or its Subsidiaries and (iii) the aggregate principal
amount of such Indebtedness does not exceed $5,000,000 at any one time
outstanding; provided that such Indebtedness shall only be permitted to
exist for 60 days following the date the Acquisition is consummated;

(o)       Indebtedness of the Company or any Subsidiary as an account
party or applicant in respect of letters of credit (other than Letters of
Credit issued hereunder) incurred in the ordinary course of business; provided
that the aggregate face amount of such letters of credit does not exceed
$7,500,000; and

(p)       additional Indebtedness of the Company or any of its
Subsidiaries in an aggregate principal amount (for the Company and all
Subsidiaries) not to exceed $15,000,000 at any one time outstanding.

Notwithstanding anything to the contrary set forth
herein, immediately after the consummation of the Transactions to occur on the
Funding Date, there shall be no Indebtedness outstanding at Constellation or
any of its Subsidiaries, other than Indebtedness permitted by Section 7.2(a),
(b), (c), (e), (f), (g), (h), (i), (m) and (n).

7.3           Liens.  Create, incur, assume or suffer to exist any
Lien upon any of its property, whether now owned or hereafter acquired, except
for:

(a)       Liens for taxes or other governmental charges or
levies not delinquent beyond any grace period or that are being contested in
good faith by appropriate proceedings, provided that adequate reserves
with respect thereto are maintained on the books of the Company or its
Subsidiaries, as the case may be, in conformity with GAAP;

 69
 

(b)       landlord’s, carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s or other like Liens arising in the ordinary course
of business that are not overdue for a period of more than 30 days or that are
being contested in good faith by appropriate proceedings;

(c)       banker’s Liens, rights of setoff, or similar rights
and remedies as to deposit accounts or pledges or deposits in connection with
workers’ compensation, unemployment insurance and other social security
legislation;

(d)       deposits to secure the performance of bids, tenders, trade
contracts (other than for borrowed money), government contracts, leases,
statutory or regulatory obligations, surety and appeal bonds, performance bonds,
return of money bonds and other obligations of a like nature incurred in the
ordinary course of business;

(e)       easements, rights-of-way, restrictions and other
similar encumbrances incurred in the ordinary course of business that do not in
any case materially detract from the value of the property subject thereto or
materially interfere with the ordinary conduct of the business of the Company
or any of its Subsidiaries;

(f)        Liens in existence on the date hereof listed on
Schedule 7.3 of the Disclosure Letter, securing Indebtedness permitted by
Section 7.2(d), provided that no such Lien is expanded to cover any
additional property after the Effective Date and that the amount of
Indebtedness secured thereby is not increased;

(g)       Liens securing Indebtedness of the Company or any
other Subsidiary incurred pursuant to Section 7.2(e) to finance the acquisition
of fixed or capital assets, provided that (i) such Liens shall be
created substantially simultaneously with the acquisition of such fixed or
capital assets, (ii) such Liens do not at any time encumber any property other
than the property financed by such Indebtedness and (iii) the amount of
Indebtedness secured thereby is not increased;

(h)       Liens created pursuant to the Senior Loan Documents
and the Security Documents;

(i)        any (i) interest or title of a lessor or sublessor
under any lease not prohibited by this Agreement and covering only the assets
so leased, (ii) Lien or restriction that the interest or title of such lessor
or sublessor may be subject to, or (iii) subordination of the interest of the
lessees or sublessee under such lease to any Lien or restriction referred to in
the preceding clause (ii);

 70
 

(j)        licenses (with respect to intellectual and other
property), leases or subleases granted to third parties in the ordinary course
of business;

(k)       Liens securing judgments not constituting an Event of
Default under Section 8(h);

(l)        the filing of UCC financing statements solely as a
precautionary measure in connection with operating leases and consignment
arrangements;

(m)      Liens arising as a result of progress payments under
government contracts to which the Company or one of its Subsidiaries is a party
in the ordinary course of business;

(n)       Liens existing on property acquired by the Company or
any Subsidiary at the time such property is so acquired (whether or not the
Indebtedness secured thereby shall have been assumed), provided that (i)
such Lien is not created in contemplation of such acquisition, (ii) such Lien
does not extend to any other property of any Group Member following such
acquisition and (iii) the aggregate fair market value of the property subject
to such Lien (determined as of the date of such acquisition) does not exceed
$15,000,000;

(o)       Liens of sellers of goods to the Company and any of
its Subsidiaries arising under Article 2 of the Uniform Commercial Code or
similar provisions of applicable law in the ordinary course of business,
covering only the goods sold and securing only the unpaid purchase price for
such goods and related expenses;

(p)       Liens securing Indebtedness permitted by Section
7.2(n) or (o);

(q)       refinancings, renewals and replacements of Liens
permitted under this Section 7.3, provided that (i) the amount of
Indebtedness secured thereby is not increased and (ii) such Liens do not extend
to or cover any property or assets of the Company and its Subsidiaries which immediately
prior to such refinancing, renewal or replacement were not subject to a Lien
permitted hereunder; and

(r)        Liens not otherwise permitted by this Section so long
as neither (i) the aggregate outstanding principal amount of the
obligations secured thereby nor (ii) the aggregate fair market value
(determined as of the date such Lien is incurred) of the assets subject thereto
exceeds (as to the Company and all Subsidiaries) $7,500,000 at any one time.

7.4           Fundamental Changes.  Enter into any merger, consolidation or
amalgamation, or liquidate, wind up or dissolve itself (or suffer any
liquidation or dissolution), or Dispose of, all or substantially all of its
property or business, except that:

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(a)       any Subsidiary (other than the Irish Borrower) may merge
with (i) the Company; provided, that the Company shall be the continuing
or surviving Person, (ii) any one or more other Subsidiaries; provided,
that when any Loan Party is merging with another Subsidiary, such Loan Party
shall be the continuing or surviving Person, or (iii) subject to Section
7.8(h), with or into any Foreign Subsidiary;

(b)       any Subsidiary of the Company may Dispose of any or
all of its assets (upon voluntary liquidation or otherwise) to the Company or
any Wholly Owned Subsidiary Guarantor or, subject to Section 7.8(h), any
Foreign Subsidiary;

(c)       any Subsidiary that is not a Loan Party may dispose of
all or substantially all its assets (including any Disposition that is in the
nature of a liquidation) to (i) another Subsidiary that is not a Loan
Party or (ii) to a Loan Party;

(d)       any Subsidiary may merge with another Person to effect
a transaction permitted under Section 7.8; and

(e)       transactions permitted under Section 7.5 shall be
permitted.

7.5           Disposition of
Property.  Dispose of any of its
property, whether now owned or hereafter acquired, or, in the case of any
Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to any
Person, except:

(a)       the Disposition of obsolete, surplus or worn out
property in the ordinary course of business;

(b)       the sale or licensing of inventory, subscriptions to
databases or software as a service, all in the ordinary course of business;

(c)       Dispositions permitted by Section 7.4(a), (b), (c) and
(d);

(d)       the sale or issuance of any Subsidiary’s Capital Stock
to the Company or any Wholly Owned Subsidiary Guarantor;

(e)       Dispositions of cash or Cash Equivalents in the
ordinary course of business in transactions not otherwise prohibited by this
Agreement; provided that until (i) the Certain Funds Period has expired
and (ii) the Term Loans have been indefeasibly paid in full and all commitments
with respect thereto have terminated, cash or Cash Equivalents on deposit in
the Blocked Accounts may not be disposed of except to be transferred to an
Escrow Account or to the satisfy the terms of the Offer or Scheme and fund a
portion of the Acquisition consideration;

 72
 

(f)        discount or otherwise compromise for less than face
value thereof, notes or accounts receivable in the ordinary course of business
in or to resolve disputes;

(g)       licenses, sublicenses, leases or subleases and similar
arrangements for the use of the property in the ordinary course of business;

(h)       Port Authority Technologies, Inc. may Dispose of the
Capital Stock of Port Authority Technologies Israel Ltd. to another Subsidiary
of the Company;

(i)        Rationalizing Constellation Dispositions; provided
that (i) at least 80% of the consideration received in connection therewith
consists of cash or Cash Equivalents (ii) the assets are sold for no less than
fair market value and (iii) the aggregate fair market value of the Rationalizing
Constellation Dispositions identified in clause (ii) of the definition thereof
and sold pursuant to this clause (i) does not exceed $50,000,000; and

(j)        the Disposition of other property having a fair market
value not to exceed $10,000,000 in the aggregate for any fiscal year of the Company;
provided, that at least 90% of the consideration received in connection
therewith consists of cash or Cash Equivalents.

7.6           Restricted Payments.  Declare or pay any dividend (other than
dividends payable solely in common stock of the Person making such dividend)
on, or make any payment on account of, or set apart assets for a sinking or
other analogous fund for, the purchase, redemption, defeasance, retirement or
other acquisition of, any Capital Stock of any Group Member, or make or offer
to make any optional or voluntary payment, prepayment, repurchase or redemption
of or otherwise optionally or voluntarily defease or segregate funds with
respect to any principal of Subordinated Debt, in each case, whether now or
hereafter outstanding, or make any other distribution in respect thereof,
either directly or indirectly, whether in cash or property or in obligations of
the Company or any Subsidiary (collectively, “Restricted Payments”),
except that:

(a)       any Subsidiary may make Restricted Payments to the Company
or any Wholly Owned Subsidiary;

(b)       so long as no Default or Event of Default shall have
occurred and be continuing or would result therefrom, the Company may purchase
its common stock or common stock options from present or former officers or
employees of any Group Member upon the death, disability or termination of
employment of such officer or employee, provided, that the aggregate
amount of payments under this clause (b) after the date hereof (net of any
proceeds received by the Company after the date hereof in connection with
resales of any common stock or common stock options so purchased) shall not
exceed $2,500,000;

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(c)       so long as no Default or Event of Default shall have
occurred and be continuing or would result therefrom, the Company may purchase
its outstanding Capital Stock in an aggregate amount not to exceed the sum of
(i) $25,000,000 plus (ii) 50% of the aggregate amount of Consolidated Net
Income accrued during the period (treated as one accounting period) from the
beginning of the fiscal quarter during which the Effective Date occurs to the
end of the most recently ended fiscal quarter for which financial statements were
delivered to the Interim Administrative Agent pursuant to Section 6.1 (or if
the aggregate amount of Consolidated Net Income for such period shall be a
deficit, minus 100% of such deficit);

(d)       the Company and each Subsidiary may pay, prepay or
redeem any Permitted Subordinated Indebtedness to the extent such amounts
reflect the net proceeds of the sales of Capital Stock of the Company; and

(e)       the Company and its Subsidiaries may purchase, redeem
or otherwise acquire any Capital Stock from its employees, officers and
directors by net exercise or otherwise, pursuant to the terms of any employee
stock option, incentive stock or restricted stock plan; provided that
cash payments made pursuant to this clause (e) shall not exceed $7,500,000
during the term of this Agreement.

7.7           Capital Expenditures.  Make or commit to make any Capital
Expenditure, except (a) Capital Expenditures of the Company and its
Subsidiaries in the ordinary course of business not exceeding $20,000,000 per
fiscal year; provided, that (i) up to $10,000,000 of any such amount
referred to above, if not so expended in the fiscal year for which it is
permitted, may be carried over for expenditure in the next succeeding fiscal
year and (ii) Capital Expenditures made pursuant to this clause (a) during any
fiscal year shall be deemed made, first, in respect of amounts permitted for
such fiscal year as provided above and, second, in respect of amounts carried
over from the prior fiscal year pursuant to subclause (i) above and (b) Capital
Expenditures made with the proceeds of any Reinvestment Deferred Amount.

7.8           Investments.  Make any advance, loan, extension of credit
(by way of guaranty or otherwise) or capital contribution to, or purchase any
Capital Stock, bonds, notes, debentures or other debt securities of, or any
assets constituting a business unit of, or make any other investment in, any
Person (all of the foregoing, “Investments”),
except:

(a)       Investments consisting of extensions of credit in the
nature of accounts receivable or notes receivable arising from the grant of trade
credit in the ordinary course of business;

(b)       Investments in Cash Equivalents and deposits of cash
with banks or other depository institutions in the ordinary course of business;

(c)       Guarantee Obligations permitted by Section 7.2;

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(d)       loans and advances to employees of any Group Member in
the ordinary course of business (including for travel, entertainment and
relocation expenses) in an aggregate amount for all Group Members not to exceed
$5,000,000 any one time outstanding;

(e)       the Acquisition;

(f)        Investments in assets useful in the business of the Company
and its Subsidiaries made by the Company or any of its Subsidiaries with the
proceeds of any Reinvestment Deferred Amount;

(g)       intercompany Investments by the Company or any of its
Subsidiaries that is not a Foreign Subsidiary in any of the Company or any of
its Subsidiaries that is not a Foreign Subsidiary; provided that all
such intercompany Investments that consist of loans from a Loan Party are
evidenced by the Intercompany Note;

(h)       intercompany Investments by the Company or any of its
Subsidiaries in any Person, that, prior to such Investment, is a Foreign
Subsidiary (including, without limitation, Guarantee Obligations with respect
to obligations of any such Foreign Subsidiary, loans made to any such Foreign
Subsidiary and Investments resulting from mergers with or sales of assets to
any such Foreign Subsidiary) in an aggregate amount (valued at cost) not to
exceed , together with any Investment pursuant to paragraphs (k) and (l) of
this Section that results in the creation or acquisition of a Foreign
Subsidiary or the acquisition of assets by a Foreign Subsidiary or any
Investment in the Capital Stock of any Person which is incorporated outside the
United States of America, $5,000,000 in any fiscal year or $20,000,000 in the
aggregate during the term of this Agreement;

(i)        Investments in the ordinary course of business
consisting of endorsements for collection or deposit;

(j)        deposits for utilities, security deposits, leases and
similar prepaid expenses incurred in the ordinary course of business;

(k)       Investments by the Company or any of its Subsidiaries
in an aggregate amount (valued at cost) not to exceed $10,000,000 in any fiscal
year; provided that (i) up to $5,000,000 of any such amount referred to
above, if not so expended in the fiscal year for which it is permitted, may be
carried over for expenditure in the next succeeding fiscal year so long as the
aggregate basket taking into account amounts permitted for such year and all
amounts so carried over shall in no event exceed $50,000,000 and (ii)
Investments made during any fiscal year shall be deemed made, first, in respect
of amounts carried over from the prior fiscal year and, second, in respect of
amounts permitted for such fiscal year as provided above;

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(l)        in addition to Investments otherwise expressly
permitted by this Section, Investments by the Company or any of its
Subsidiaries in an aggregate amount (valued at cost) not to exceed $5,000,000 in
any fiscal year;

(m)       Permitted Acquisitions and Investments made prior to
the consummation of any Permitted Acquisition consisting of reasonable earnest
money deposits, working fees or other similar prepaid consideration or similar
amounts that will be applied toward the consideration paid upon the
consummation of such Permitted Acquisition (in each cash whether or not
refundable under any circumstances);

(n)       Investments existing as of the Effective Date and set
forth in Schedule 7.8 of the Disclosure Letter and any extension or renewal
thereof; provided that the amount of any such Investment is not increased at
the time of such extension or renewal;

(o)       Investments received in connection with the bankruptcy
or reorganization of suppliers or customers and in settlement of delinquent
obligations of, and other disputes with, suppliers or customers arising in the
ordinary course of business;

(p)       Investments received as consideration in connection
with Dispositions permitted under Section 7.5;

(q)       Investments in Foreign Subsidiaries to the extent
required by Governmental Authorities as a requirement for such Foreign
Subsidiaries to do business in such foreign jurisdiction not exceeding the
minimum amount required and in no event exceeding $5,000,000 for each such Investment;
and

(r)        Investments consisting of Hedge Agreements permitted
by Section 7.12.

7.9           Optional Payments
and Modifications of Certain Debt Instruments and Agreements. (a)  (a) (i) Make or offer to make any optional or
voluntary payment, prepayment, repurchase or redemption of or otherwise
optionally or voluntarily defease or segregate funds with respect to the Senior
Credit Agreement (other than amounts on deposit in any Escrow Account or any
Blocked Account); provided that mandatory prepayments of outstanding Senior
Loans may be made in accordance with the terms of Section 4.2 of the Senior
Credit Agreement or (ii) amend, modify, waive or otherwise change, or consent
or agree to any amendment, modification, waiver or other change to, any of the material
terms of the Senior Loan Documents or any Subordinated Debt in a manner adverse
to the Lenders.

(b)       Amend, modify, waive or otherwise change, or consent
or agree to any amendment, modification, waiver or other change to, any of the
terms of any Organization

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Document
of any Loan Party if such amendment, modification, waiver or change could
reasonably be expected to have a Material Adverse Effect.

7.10         Transactions with
Affiliates.  Enter into any
transaction, including any purchase, sale, lease or exchange of property, the
rendering of any service or the payment of any management, advisory or similar
fees, with any Affiliate (other than the Company or any Wholly Owned Subsidiary
Guarantor) unless such transaction is (a) otherwise permitted under this Agreement,
(b) in the ordinary course of business of the relevant Group Member, and (c)
upon fair and reasonable terms no less favorable to the relevant Group Member,
than it would obtain in a comparable arm’s length transaction with a Person
that is not an Affiliate.  The foregoing
sentence shall not prohibit, to the extent otherwise permitted under this
Agreement, (i) any issuance of securities, or other payments, awards or grants
in cash, securities or otherwise pursuant to, or the funding of, employment
arrangements, stock options and other benefit plans, (ii) loans or advances to
employees, officers or other directors of the Company or any Subsidiary
permitted under this Agreement, (iii) the payment of fees and indemnities to
directors, officers, employees and consultants of the Company and the
Subsidiaries in the ordinary course of business, (iv) any agreements with
employees and directors entered into by the Company or any of its Subsidiaries
in the ordinary course of business, (v) existing related party transactions
described in the Company’s SEC filings made prior to the Effective Date, (vi)
any Restricted Payment permitted hereunder, (vii) any transfer pricing or tax
sharing arrangements by or among Group Members that are compliant with relevant
tax requirements or (viii) transactions for which the Company or any Subsidiary
shall deliver to the Interim Administrative Agent a written opinion of a
nationally recognized investment banking, accounting, valuation or appraisal
firm stating that the transaction is fair to the Company or such Subsidiary
from a financial point of view.

7.11         [Intentionally Omitted].

7.12         Hedge Agreements.  Enter into any Hedge Agreement, except (a)
Hedge Agreements entered into in good faith to hedge or mitigate risks to which
the Company or any Subsidiary may have exposure (other than those in respect of
Capital Stock or those entered into for speculative purposes), (b) Hedge
Agreements entered into in order to effectively cap, collar or exchange
interest rates (from fixed to floating rates, from one floating rate to another
floating rate or otherwise) with respect to any interest-bearing liability or
investment of the Company or any Subsidiary and (c) any Hedge Agreements
required to be entered into pursuant to the terms and conditions of this
Agreement.

7.13         Changes in Fiscal
Periods.  Permit the fiscal year of
the Company to end on a day other than December 31 or change the Company’s
method of determining fiscal quarters.

7.14         Negative Pledge
Clauses.  Enter into or suffer to
exist or become effective any agreement that prohibits, limits or imposes any
condition upon the ability of any Group Member to create, incur, assume or
suffer to exist any Lien upon any of its property or revenues, whether now
owned or hereafter acquired, other than (a) this Agreement and the other Loan
Documents (b) the Senior Loan Documents as in effect on the date hereof, (c)
any agreements governing any purchase money Liens or Capital Lease Obligations
otherwise permitted hereby (in which case, any prohibition or limitation shall
only be effective against the assets financed

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thereby) and (d) as may
be required by a Governmental Authority in connection with the Transaction.

7.15         Clauses Restricting
Subsidiary Distributions.  Enter into
or suffer to exist or become effective any consensual encumbrance or
restriction on the ability of any Subsidiary of the Company to (a) make
Restricted Payments in respect of any Capital Stock of such Subsidiary held by,
or pay any Indebtedness owed to, the Company or any other Subsidiary of the Company,
(b) make loans or advances to, or other Investments in, the Company or any
other Subsidiary of the Company or (c) transfer any of its assets to the Company
or any other Subsidiary of the Company, except for such encumbrances or restrictions
existing under or by reason of (i) any restrictions existing under the Loan
Documents, (ii) any restrictions or encumbrances existing under the Senior Loan
Documents as in effect on the date hereof, and (iii) any restrictions with
respect to a Subsidiary imposed pursuant to an agreement that has been entered
into in connection with the Disposition of all or substantially all of the
Capital Stock or assets of such Subsidiary.

7.16         Lines of Business.  Enter into any business, either directly or
through any Subsidiary, except for those businesses in which the Company and
its Subsidiaries are engaged on the date of this Agreement (or in the case of
Constellation and its Subsidiaries, after giving effect to the Acquisition) or
that are reasonably related, ancillary or complementary thereto.

7.17         Amendment to Scheme.  (a)  If
the Offer Conversion has not occurred:

(b)       Take any action (and shall procure that no person
acting in concert with it takes any action) which will result in it becoming
obliged to make an offer for Constellation Shares under Rule 9 of the City
Code, unless consented to in writing by the Interim Administrative Agent;

(c)       Except as otherwise permitted in this Section 7.17, as
contemplated by Section 6.11 and as otherwise agreed to in writing by the Interim
Administrative Agent, amend (and shall use reasonable endeavors to ensure that
there is no amendment to) the Scheme where any such amendment would be material
and adverse to the interests of the Lenders (including any increase to the cash
consideration payable pursuant to the Scheme above the amount specified in the
Scheme Press Release (including as a result of any open market purchase or
privately negotiated purchase at a higher price resulting in a mandatory
increase in the cash consideration payable pursuant to the Scheme Document))
unless either:

(i)            the Interim Administrative Agent has
given its consent; or

(ii)           (other than any increase to the cash
consideration payable pursuant to the Scheme above the amount specified in the
Scheme Press Release) to the extent required by the City Code, the Panel, the
OFT, the Competition Commission, the Court or any other court having relevant
jurisdiction or any other regulatory authority with whose direction the Company
or Bidco is required

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by law
or in accordance with customary practice should comply in respect of the Scheme.

(d)       Waive (and shall use reasonable efforts to ensure that
there is no waiver of) or declare or treat as satisfied any condition of the
Scheme unless:

(i)            such waiver, declaration or consent
would not be material and adverse to the interests of the Lenders; or

(ii)           the Interim Administrative Agent has
given its consent; or

(iii)          to the extent required by the City
Code, the Panel, the OFT, the Competition Commission, the Court or any other
court of relevant jurisdiction or any other regulatory authority with whose
direction the Company or Bidco is required by law or in accordance with
customary practice should comply in respect of the Scheme.

7.18         Amendments to Offer.  If the Offer Conversion has occurred:

(a)       Take any action (and shall procure that no person
acting in concert with it takes any action) which will result in it becoming
obliged to make an offer for Constellation Shares under Rule 9 of the City
Code, unless consented to in writing by the Interim Administrative Agent;

(b)       Except as otherwise permitted in this Section 7.18 and
as otherwise agreed to in writing by the Interim Administrative Agent, amend
(and shall use reasonable endeavors to ensure that there is no amendment to)
the Offer (other than the acceptance condition (as provided in Section 5.2(b))
where any such amendment would be material and adverse to the interests of the
Lenders (including any increase to the cash consideration payable pursuant to
the Offer Document above the amount specified in the Offer Press Release
(including as a result of any open market purchase or privately negotiated
purchase at a higher price resulting in a mandatory increase in the cash
consideration payable pursuant to the Offer Document)) unless either:

(i)            the Interim Administrative Agent has
given its consent; or

(ii)           (other than any increase to the cash
consideration payable pursuant to the Offer Document above the amount specified
in the Offer Press Release) to the extent required by the City Code, the Panel,
the OFT, the Competition Commission, the Court or any other court having
relevant jurisdiction or any other regulatory authority with whose direction
the Company

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or Bidco
is required by law or in accordance with customary practice should comply in
respect of such bid.

(c)       Waive (and shall use reasonable efforts to ensure that
there is no waiver of) or declare or treat as satisfied (or publish any
intention to declare or treat as satisfied) any condition of the Offer (other
than the acceptance condition (as provided in Section 5.2(b)) if the Panel
would allow the Offer to lapse as a result of the failure to satisfy that
condition unless:

(i)            such waiver, declaration or consent
would not be material and adverse to the interests of the Lenders; or

(ii)           the Interim Administrative Agent has
given its consent; or

(iii)          to the extent required by the City
Code, the Panel, the OFT, the Competition Commission, the Court or any other
court of relevant jurisdiction or any other regulatory authority with whose
direction the Company or Bidco is required by law or in accordance with
customary practice should comply in respect of such bid.

7.19         Blocked Accounts.  Withdraw any amounts on deposit in any
Blocked Account except to (a) satisfy the terms of the Offer or Scheme and fund
a portion of the Acquisition consideration, (b) repay the Term Loans or (c)
deposit such amounts in an Escrow Account.

SECTION 8.    EVENTS
OF DEFAULT

If any of the following events shall occur and be
continuing:

(a)       the Borrower shall fail to pay any principal of any
Term Loan when due in accordance with the terms hereof; or the Borrower shall
fail to pay any interest on any Term Loan, or any other amount payable
hereunder or under any other Loan Document, within five days after any such
interest or other amount becomes due in accordance with the terms hereof; or

(b)       any representation or warranty made or deemed made by
any Loan Party herein or in any other Loan Document or that is contained in any
certificate, document or financial or other statement furnished by it at any
time under or in connection with this Agreement or any such other Loan Document
shall prove to have been inaccurate in any material respect on or as of the
date made or deemed made; or

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(c)       any Loan Party shall default in the observance or
performance of any agreement contained in clause (i) or (ii) of Section 6.4(a)
(with respect to the Borrowers only), Section 6.7(a), Section 6.17 or Section 7
of this Agreement; or

(d)       any Loan Party shall default in the observance or
performance of any other agreement contained in this Agreement or any other
Loan Document (other than as provided in paragraphs (a) through (c) of this
Section), and such default shall continue unremedied for a period of 30 days after
notice to the Company from the Interim Administrative Agent or the Required
Lenders; or

(e)       any Group Member (i) defaults in making any payment of
any principal of any Indebtedness (including any Guarantee Obligation or Hedge
Agreement, but excluding the Term Loans) on the scheduled or original due date
with respect thereto; or (ii) defaults in making any payment of any interest on
any such Indebtedness beyond the period of grace, if any, provided in the
instrument or agreement under which such Indebtedness was created; or (iii)
defaults in the observance or performance of any other agreement or condition
relating to any such Indebtedness or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event shall occur or
condition exist, the effect of which default or other event or condition is to
cause, or to permit the holder or beneficiary of such Indebtedness (or a
trustee or agent on behalf of such holder or beneficiary) to cause, with the
giving of notice if required, such Indebtedness to become due prior to its
stated maturity or to become subject to a mandatory offer to purchase by the
obligor thereunder or (in the case of any such Indebtedness constituting a
Guarantee Obligation) to become payable; provided, that a default, event
or condition described in clause (i), (ii) or (iii) of this paragraph (e) shall
not at any time constitute an Event of Default unless, at such time, one or
more defaults, events or conditions of the type described in clauses (i), (ii) and
(iii) of this paragraph (e) shall have occurred and be continuing with respect
to Indebtedness the outstanding principal amount of which exceeds in the
aggregate $5,000,000; or

(f)        (i) any Group Member other than an Immaterial
Subsidiary shall commence any case, proceeding or other action (A) under any
existing or future law of any jurisdiction, domestic or foreign, relating to
bankruptcy, insolvency, administration, examination, receivership,
reorganization or relief of debtors, seeking to have an order for relief
entered with respect to it, or seeking to adjudicate it a bankrupt or
insolvent, or seeking reorganization, arrangement, adjustment, winding up,
liquidation, dissolution, composition or other relief with respect to it or its
debts, or (B) seeking appointment of a liquidator, administrator, examiner, administrative
receiver, receiver, trustee, custodian, conservator or other similar official
for it or for all or any substantial part of its assets, or any Group Member other
than an Immaterial Subsidiary shall make a general assignment for the benefit
of its creditors; or (ii) there shall be commenced against any Group Member other
than an Immaterial Subsidiary any case, proceeding or other action of a nature
referred to in clause (i) above that (A) results in the entry of an order for
relief or any such adjudication or appointment or (B) remains undismissed,
undischarged or unbonded for a period of 60 days; or (iii) there shall be
commenced against any Group Member other than an Immaterial Subsidiary any
case, proceeding or other action seeking

 81

issuance
of a warrant of attachment, execution, distraint or similar process against all
or any substantial part of its assets that results in the entry of an order for
any such relief that shall not have been vacated, discharged, or stayed or
bonded pending appeal within 60 days from the entry thereof; or (iv) any Group
Member other than an Immaterial Subsidiary shall take any action in furtherance
of, or indicating its consent to, approval of, or acquiescence in, any of the
acts set forth in clause (i), (ii), or (iii) above; or (v) any Group Member other
than an Immaterial Subsidiary shall generally not, or shall be unable to, or
shall admit in writing its inability to, pay its debts as they become due and,
in the case of any subsidiary of the Borrower incorporated in any jurisdiction
in the United Kingdom or Ireland, ignoring the deeming provisions of Section
123(1)(a) of the Insolvency Act 1986 and Section 214 of the Companies Act, 1963
of Ireland; or

(g)       (i)  any Person
shall engage in any “prohibited transaction” (as defined in Section 406 of
ERISA or Section 4975 of the Code) involving any Plan, (ii) any “accumulated
funding deficiency” (as defined in Section 302 of ERISA), whether or not
waived, shall exist with respect to any Plan or any Lien in favor of the PBGC
or a Plan shall arise on the assets of any Group Member other than an
Immaterial Subsidiary or any Commonly Controlled Entity, (iii) a Reportable
Event shall occur with respect to, or proceedings shall commence to have a
trustee appointed, or a trustee shall be appointed, to administer or to
terminate, any Single Employer Plan, which Reportable Event or commencement of
proceedings or appointment of a trustee would be reasonably likely to result in
the termination of such Plan for purposes of Title IV of ERISA, (iv) any Single
Employer Plan shall terminate for purposes of Title IV of ERISA, (v) any Group
Member other than an Immaterial Subsidiary or any Commonly Controlled Entity
shall, or is reasonably likely to, incur any liability in connection with a
withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan
or (vi) any other event or condition shall occur or exist with respect to a
Plan; and in each case in clauses (i) through (vi) above, such event or
condition, together with all other such events or conditions, if any, could reasonably
be expected to have a Material Adverse Effect; or

(h)       one or more judgments or decrees shall be entered
against any Group Member involving in the aggregate a liability (not paid or
fully covered by insurance as to which the relevant insurance company has
acknowledged coverage) of $5,000,000 or more, and all such judgments or decrees
shall not have been vacated, discharged, stayed or bonded pending appeal within
30 days from the entry thereof; or

(i)        any of the Security Documents shall cease, for any
reason, to be in full force and effect, or any Loan Party or any Affiliate of
any Loan Party shall so assert, or any Lien created by any of the Security
Documents shall cease to be enforceable and of the same effect and priority
purported to be created thereby; or any Loan Party shall so assert; or

(j)        the guarantee contained in Section 11 of this
Agreement shall cease, for any reason, to be in full force and effect or any
Loan Party or any Affiliate of any Loan Party shall so assert; or

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(k)       (i) any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”)) shall become, or obtain rights (whether by means
or warrants, options or otherwise) to become, the “beneficial owner” (as
defined in Rules 13(d)-3 and 13(d) 5 under the Exchange Act), directly or
indirectly, of more than 35% of the outstanding common stock of the Company;
(ii) the board of directors of the Company shall cease to consist of a majority
of Continuing Directors; or (iii) the Company shall cease to own 100% of the
Capital Stock of the Irish Borrower;

then, and in any such
event, subject to the provisions of Section 5.4 (Certain Funds), (A) if such
event is an Event of Default specified in clause (i) or (ii) of paragraph (f)
above with respect to either Borrower, automatically the Commitments shall
immediately terminate and the Term Loans hereunder (with accrued interest
thereon) and all other amounts owing under this Agreement and the other Loan
Documents shall immediately become due and payable, and (B) if such event is
any other Event of Default, with the consent of the Required Lenders, the Interim
Administrative Agent may, or upon the request of the Required Lenders, the Interim
Administrative Agent shall, by notice to the Borrower, declare the Term Loans
hereunder (with accrued interest thereon) and all other amounts owing under
this Agreement and the other Loan Documents to be due and payable forthwith,
whereupon the same shall immediately become due and payable.  Except as expressly provided above in this
Section, presentment, demand, protest and all other notices of any kind are
hereby expressly waived by the Borrower.

In addition, if an
Event of Default shall occur and be continuing, the Interim Administrative
Agent may exercise, in addition to all other rights and remedies granted to it
in this Agreement and in any other Loan Document, all rights and remedies of a
secured party under the New York UCC or any other applicable law or in
equity.  Without limiting the generality
of the foregoing, to the fullest extent permitted by applicable law, the Interim
Administrative Agent, without demand of performance or other demand,
presentment, protest, advertisement or notice of any kind (except any notice
required by law referred to below) to or upon any Loan Party or any other
Person (all and each of which demands, defenses, advertisements and notices are
hereby waived), may in such circumstances forthwith collect, receive,
appropriate and realize upon the Collateral, or any part thereof, and/or may
forthwith sell, lease, assign, give option or options to purchase, or otherwise
dispose of and deliver the Collateral or any part thereof (or contract to do any
of the foregoing), in one or more parcels at public or private sale or sales,
at any exchange, broker’s board or office of any Agent or any Secured Party or
elsewhere upon such terms and conditions as it may deem advisable and at such
prices as it may deem best, for cash or on credit or for future delivery
without assumption of any credit risk. 
Any Secured Party shall have the right upon any such public sale or
sales, and, to the extent permitted by law, upon any such private sale or
sales, to purchase the whole or any part of the Collateral so sold, free of any
right or equity of redemption in any Loan Party, which right or equity is
hereby waived and released.  To the
extent permitted by applicable law, each Loan Party waives all claims, damages
and demands it may acquire against any Secured Party arising out of the
exercise of any rights hereunder other than any such claims, damages and
demands that may arise from the gross negligence or willful misconduct of such
Secured Party.  If any notice of a proposed
sale or other disposition of Collateral is required by law, such notice shall
be deemed reasonable and proper if given at least 10 days before such sale or
other disposition.

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SECTION 9.    THE
AGENTS

9.1           Appointment.  (a) 
Each Lender hereby irrevocably designates and appoints each Agent as the
agent of such Lender under this Agreement and the other Loan Documents, and
each such Lender irrevocably authorizes such Agent, in such capacity, to take
such action on its behalf under the provisions of this Agreement and the other
Loan Documents and to exercise such powers and perform such duties as are
expressly delegated to such Agent by the terms of this Agreement and the other
Loan Documents, together with such other powers as are reasonably incidental
thereto, including, without limitation, such actions on its behalf as are
necessary or advisable with respect to the Collateral under this Agreement or
any of the other Loan Documents.  Each
Agent hereby accepts such appointment. 
Notwithstanding any provision to the contrary elsewhere in this
Agreement, no Agent shall have any duties or responsibilities, except those
expressly set forth herein, or any fiduciary relationship with any Lender, and
no implied covenants, functions, responsibilities, duties, obligations or
liabilities shall be read into this Agreement or any other Loan Document or
otherwise exist against any Agent.

9.2           Delegation of Duties.  Each Agent may execute any of its duties
under this Agreement and the other Loan Documents by or through agents or
attorneys in fact and shall be entitled to advice of counsel concerning all
matters pertaining to such duties.  No
Agent shall be responsible for the negligence or misconduct of any agents or
attorneys in fact selected by it with reasonable care.

9.3           Exculpatory
Provisions.  Neither any Agent nor
any of their respective officers, directors, employees, agents, attorneys in
fact or affiliates shall be (i) liable for any action lawfully taken or omitted
to be taken by it or such Person under or in connection with this Agreement or
any other Loan Document (except to the extent that any of the foregoing are
found by a final and nonappealable decision of a court of competent
jurisdiction to have resulted from its or such Person’s own gross negligence or
willful misconduct) or (ii) responsible in any manner to any of the Lenders or
any other Secured Party for any recitals, statements, representations or
warranties made by any Loan Party or any officer thereof contained in this
Agreement or any other Loan Document or in any certificate, report, statement
or other document referred to or provided for in, or received by the Agents
under or in connection with, this Agreement or any other Loan Document or for
the value, validity, effectiveness, genuineness, enforceability or sufficiency
of this Agreement or any other Loan Document or for any failure of any Loan
Party a party thereto to perform its obligations hereunder or thereunder.  The Agents shall not be under any obligation to
any Lender to ascertain or to inquire as to the observance or performance of
any of the agreements contained in, or conditions of, this Agreement or any
other Loan Document, or to inspect the properties, books or records of any Loan
Party.

9.4           Reliance by Agents.  Each Agent shall be entitled to rely, and
shall be fully protected in relying, upon any instrument, writing, resolution,
notice, consent, certificate, affidavit, letter, telecopy, telex or teletype
message, statement, order or other document or conversation believed by it to
be genuine and correct and to have been signed, sent or made by the proper
Person or Persons and upon advice and statements of legal counsel (including
counsel to the Borrower), independent accountants and other experts selected by
such Agent.  The Interim Administrative
Agent may deem and treat the payee of any Note as the owner thereof for all
purposes unless a written notice of assignment, negotiation or transfer thereof
shall have been

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filed with the Interim
Administrative Agent.  Each Agent shall
be fully justified in failing or refusing to take any action under this
Agreement or any other Loan Document unless it shall first receive such advice
or concurrence of the Required Lenders (or, if so specified by this Agreement,
all Lenders) as it deems appropriate or it shall first be indemnified to its
satisfaction by the Lenders against any and all liability and expense that may
be incurred by it by reason of taking or continuing to take any such
action.  The Agents shall in all cases be
fully protected in acting, or in refraining from acting, under this Agreement
and the other Loan Documents in accordance with a request of the Required
Lenders (or, if so specified by this Agreement, all Lenders), and such request
and any action taken or failure to act pursuant thereto shall be binding upon
all the Lenders and all future holders of the Term Loans and all other Secured
Parties.

9.5           Notice of Default.  No Agent shall be deemed to have knowledge or
notice of the occurrence of any Default or Event of Default hereunder unless
such Agent has received notice from a Lender or the Borrower referring to this
Agreement, describing such Default or Event of Default and stating that such
notice is a “notice of default”.  In the
event that the Interim Administrative Agent receives such a notice, the Interim
Administrative Agent shall give notice thereof to the Lenders.  The Interim Administrative Agent shall take
such action with respect to such Default or Event of Default as shall be
reasonably directed by the Required Lenders (or, if so specified by this
Agreement, all Lenders or any other instructing group of Lenders specified by
this Agreement); provided that unless and until the Interim
Administrative Agent shall have received such directions, the Interim
Administrative Agent may (but shall not be obligated to) take such action, or
refrain from taking such action, with respect to such Default or Event of
Default as it shall deem advisable in the best interests of the Lenders.

9.6           Non Reliance on
Agents and Other Lenders.  Each Lender
expressly acknowledges that neither the Agents nor any of their respective
officers, directors, employees, agents, attorneys in fact or affiliates have
made any representations or warranties to it and that no act by any Agent
hereafter taken, including any review of the affairs of a Loan Party or any
affiliate of a Loan Party, shall be deemed to constitute any representation or
warranty by any Agent to any Lender. 
Each Lender represents to the Agents that it has, independently and
without reliance upon any Agent or any other Lender, and based on such
documents and information as it has deemed appropriate, made its own appraisal
of and investigation into the business, operations, property, financial and
other condition and creditworthiness of the Loan Parties and their affiliates
and made its own decision to make its Term Loans hereunder and enter into this
Agreement.  Each Lender also represents
that it will, independently and without reliance upon any 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 analysis, appraisals
and decisions in taking or not taking action under this Agreement and the other
Loan Documents, and to make such investigation as it deems necessary to inform
itself as to the business, operations, property, financial and other condition
and creditworthiness of the Loan Parties and their affiliates.  Except for notices, reports and other
documents expressly required to be furnished to the Lenders by the Interim
Administrative Agent hereunder, the Interim Administrative Agent shall not have
any duty or responsibility to provide any Lender with any credit or other
information concerning the business, operations, property, condition (financial
or otherwise), prospects or creditworthiness of any Loan Party or any affiliate
of a Loan Party that may come into the possession of the Interim Administrative
Agent or any of its officers, directors, employees, agents, attorneys in fact
or affiliates.

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9.7           Indemnification.  The Lenders agree to indemnify each Agent in
its capacity as such (to the extent not reimbursed by the Borrower and without
limiting the obligation of the Borrower to do so), ratably according to their
respective Aggregate Exposure Percentages in effect on the date on which
indemnification is sought under this Section (or, if indemnification is sought
after the date upon which the Commitments shall have terminated and the Term
Loans shall have been paid in full, ratably in accordance with such Aggregate
Exposure Percentages immediately prior to such date), from and against any and
all liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind whatsoever that may at any
time (whether before or after the payment of the Term Loans) be imposed on,
incurred by or asserted against such Agent in any way relating to or arising
out of, the Commitments, this Agreement, any of the other Loan Documents or any
documents contemplated by or referred to herein or therein or the transactions
contemplated hereby or thereby or any action taken or omitted by such Agent
under or in connection with any of the foregoing; provided that no
Lender shall be liable for the payment of any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements that are found by a final and nonappealable decision
of a court of competent jurisdiction to have resulted from such Agent’s gross
negligence or willful misconduct.  The
agreements in this Section shall survive the payment of the Term Loans and all
other amounts payable hereunder.

9.8           Agent in Its
Individual Capacity.  Each Agent and
its affiliates may make loans to, accept deposits from and generally engage in
any kind of business with any Loan Party as though such Agent were not an
Agent.  With respect to its Term Loans
made or renewed by it, each Agent shall have the same rights and powers under
this Agreement and the other Loan Documents as any Lender and may exercise the
same as though it were not an Agent, and the terms “Lender” and “Lenders” shall
include each Agent in its individual capacity.

9.9           Successor Agents.  (a) 
The Interim Administrative Agent may resign as Interim Administrative
Agent, upon 30 days’ notice to the Lenders and the Borrower.  If the Interim Administrative Agent shall
resign as Interim Administrative Agent under this Agreement and the other Loan
Documents, then the Required Lenders shall appoint from among the Lenders a successor
agent for the Lenders, which successor agent shall (unless an Event of Default
under Section 8(a) or Section 8(f) with respect to either Borrower shall have
occurred and be continuing) be subject to approval by the Borrower (which
approval shall not be unreasonably withheld or delayed), whereupon such
successor agent shall succeed to the rights, powers and duties of the Interim
Administrative Agent and the term “Interim Administrative Agent” shall mean
such successor agent effective upon such appointment and approval, and the
former Interim Administrative Agent’s rights, powers and duties as Interim
Administrative Agent shall be terminated, without any other or further act or
deed on the part of such former Interim Administrative Agent or any of the
parties to this Agreement or any holders of the Term Loans.  If no successor agent has accepted
appointment as Interim Administrative Agent by the date that is 30 days
following a retiring Interim Administrative Agent’s notice of resignation, the
retiring Interim Administrative Agent’s resignation shall nevertheless
thereupon become effective and the Lenders shall assume and perform all of the
duties of the Interim Administrative Agent hereunder until such time, if any,
as the Required Lenders appoint a successor agent as provided for above.  After any retiring Interim Administrative
Agent’s resignation as Interim Administrative Agent the provisions of this
Section 9 shall inure to its benefit as to any actions

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taken or omitted to be
taken by it while it was Interim Administrative Agent under this Agreement and
the other Loan Documents.

(b)       The Syndication Agent may, at any time, by notice to
the Lenders and the Interim Administrative Agent, resign as Syndication Agent
hereunder, whereupon the duties, rights, obligations and responsibilities of
the Syndication Agent hereunder shall automatically be assumed by, and inure to
the benefit of, the Interim Administrative Agent, without any further act by
the Syndication Agent, the Interim Administrative Agent or any Lender.

9.10         Agents Generally.  Except as expressly set forth herein, no
Agent shall have any duties or responsibilities hereunder in its capacity as
such.

9.11         The Lead Arranger.  The Lead Arranger, in its capacity as such,
shall have no duties or responsibilities, and shall incur no liability, under
this Agreement and other Loan Documents.

SECTION 10.    MISCELLANEOUS

10.1         Amendments and Waivers.  Neither this Agreement, any other Loan
Document, nor any terms hereof or thereof may be amended, supplemented or
modified except in accordance with the provisions of this Section 10.1.  The Required Lenders and each Loan Party
party to the relevant Loan Document may, or, with the written consent of the
Required Lenders, the Interim Administrative Agent and each Loan Party party to
the relevant Loan Document may, from time to time, (a) enter into written
amendments, supplements or modifications hereto and to the other Loan Documents
for the purpose of adding any provisions to this Agreement or the other Loan Documents
or changing in any manner the rights of the Lenders or of the Loan Parties
hereunder or thereunder or (b) waive, on such terms and conditions as the
Required Lenders or the Interim Administrative Agent, as the case may be, may
specify in such instrument, any of the requirements of this Agreement or the
other Loan Documents or any Default or Event of Default and its consequences; provided,
however, that no such waiver and no such amendment, supplement or
modification shall (i) forgive the principal amount or extend the final
scheduled date of maturity of any Term Loan, extend the scheduled date of any
amortization payment in respect of any Term Loan, reduce the stated rate of any
interest or fee payable hereunder (except (x) in connection with the waiver of
applicability of any post-default increase in interest rates, which waiver
shall be effective with the consent of the Required Lenders and (y) that any
amendment or modification of the financial covenants or defined terms used in
the financial covenants in this Agreement shall not constitute a reduction in
the rate of interest or fees for purposes of this clause (i)) or extend the
scheduled date of any payment thereof, or increase the amount or extend the
expiration date of any Lender’s Commitment or amend, modify or waive any
provision of Section 3.8, in each case without the written consent of each
Lender directly affected thereby; (ii) eliminate or reduce the voting rights of
any Lender under this Section 10.1 without the written consent of such Lender;
(iii) reduce any percentage specified in the definition of Required Lenders,
consent to the assignment or transfer by either Borrower of any of its rights
and obligations under this Agreement and the

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other Loan Documents, release
all or substantially all of the Guarantors from their obligations under Section
11 of this Agreement, release all or substantially all of the Collateral or
amend clause (a)(i), (b)(iii) or (c)(iii) of the definition of Certain Funds
Period, in each case without the written consent of all Lenders;  (iv) amend, modify or waive any provision of
Section 9 without the written consent of each Agent adversely affected thereby;
and (v) amend, modify or waive any provision of Section 10.6 to further
restrict any Lender’s ability to assign or otherwise transfer its obligations
hereunder without the written consent of all Lenders.  Any such waiver and any such amendment,
supplement or modification shall apply equally to each of the Lenders and shall
be binding upon the Loan Parties, the Lenders, the Agents and all future
holders of the Term Loans.  In the case
of any waiver, the Loan Parties, the Lenders and the Agents shall be restored
to their former position and rights hereunder and under the other Loan
Documents, and any Default or Event of Default waived shall be deemed to be
cured and not continuing; but no such waiver shall extend to any subsequent or
other Default or Event of Default, or impair any right consequent thereon.

Notwithstanding the foregoing, this Agreement may be
amended (or amended and restated) with the written consent of the Required
Lenders, the Interim Administrative Agent and the Borrowers (a) to add one or
more additional credit facilities to this Agreement and to permit the
extensions of credit from time to time outstanding thereunder and the accrued
interest and fees in respect thereof (collectively, the “Additional Extensions of
Credit”) to share ratably in the
benefits of this Agreement and the other Loan Documents with the Term Loans and
the accrued interest and fees in respect thereof and (b) to include
appropriately the Lenders holding such credit facilities in any determination
of the Required Lenders.

In addition, notwithstanding the foregoing, this
Agreement may be amended with the written consent of the Interim Administrative
Agent, the Borrowers and the Lenders providing the relevant Replacement Term
Loans (as defined below) to permit the refinancing of all outstanding Term
Loans (“Refinanced
Term Loans”) with a replacement
term loan tranche hereunder (“Replacement Term Loans”), provided that (a) the aggregate principal
amount of such Replacement Term Loans shall not exceed the aggregate principal
amount of such Refinanced Term Loans, (b) the Applicable Margin for such
Replacement Term Loans shall not be higher than the Applicable Margin for such
Refinanced Term Loans, (c) the weighted average life to maturity of such
Replacement Term Loans shall not be shorter than the weighted average life to
maturity of such Refinanced Term Loans at the time of such refinancing and (d)
all other terms applicable to such Replacement Term Loans shall be
substantially identical to, or less favorable to the Lenders providing such
Replacement Term Loans than, those applicable to such Refinanced Term Loans,
except to the extent necessary to provide for covenants and other terms
applicable to any period after the latest final maturity of the Term Loans in
effect immediately prior to such refinancing.

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

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10.2         Notices.  (a) 
All notices and other communications provided for hereunder shall be
either (i) in writing (including telecopy or e-mail communication) and mailed,
telecopied or delivered or (ii) as and to the extent set forth in Section
10.2(b) and in the proviso to this Section 10.2(a), in an electronic medium and
as delivered as set forth in Section 10.2(b) if to the Borrowers, at their
address at 10240 Sorrento Valley Road, San Diego, CA 92121, Attention: Chief
Financial Officer; and if to the Interim Administrative Agent, at its address
at One Pierrepont Plaza, 7th Floor, 300 Cadman Plaza West, Brooklyn, NY 11201,
Attention: Erma Dell’Aquila, E-mail Address: Erma.Dell’Aquila@morganstanley.com,
with a copy to Morgan Stanley Senior Funding, Inc., 1585 Broadway, New York, NY
10036, Attention: Edward Henley, E-mail Address: Edward.Henley@morganstanley.com;
or, as to any party, at such other address as shall be designated by such party
in a written notice to the other parties; provided, however, that
materials and information described in Section 10.2(b) shall be delivered to
the Interim Administrative Agent in accordance with the provisions thereof or
as otherwise specified to the Borrowers by the Interim Administrative Agent.  All such notices and other communications
shall, when mailed, be effective four days after having been mailed, and when
telecopied or E-mailed, be effective when properly transmitted, except that
notices and communications to any Agent pursuant to Sections 2, 3, 5 and 9
shall not be effective until received by such Agent. Delivery by telecopier of
an executed counterpart of a signature page to any amendment or waiver of any
provision of this Agreement or the Notes or of any Exhibit hereto to be
executed and delivered hereunder shall be effective as delivery of an original
executed counterpart thereof.

(b)       The Borrower hereby agrees that it will provide to the
Interim Administrative Agent all information, documents and other materials
that it is obligated to furnish to the Interim Administrative Agent pursuant to
the Loan Documents, including, without limitation, all notices, requests,
financial statements, financial and other reports, certificates and other
information materials, but excluding any such communication that (i) relates to
a request for a new, or a conversion of an existing, borrowing or other
extension of credit (including any election of an interest rate or interest
period relating thereto), (ii) relates to the payment of any principal or other
amount due under this Agreement prior to the scheduled date therefor, (iii)
provides notice of any default or event of default under this Agreement or (iv)
is required to be delivered to satisfy any condition precedent to the
effectiveness of this Agreement and/or any borrowing or other extension of
credit hereunder (all such non-excluded communications being referred to herein
collectively as “Communications”), by transmitting the Communications in an
electronic/soft medium in a format acceptable to the Interim Administrative
Agent to an electronic address specified by the Interim Administrative Agent to
the Borrower. In addition, the Borrower agrees to continue to provide the
Communications to the Agents in the manner specified in the Loan Documents but
only to the extent requested by the Interim Administrative Agent.  The Borrower further agrees that the Interim
Administrative Agent may make the Communications available to the Lenders by
posting the Communications on Intralinks or a substantially similar secure
electronic transmission system (the “Platform”).

(c)       THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”.
THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR
COMPLETENESS OF THE COMMUNICATIONS, OR THE ADEQUACY OF THE PLATFORM AND
EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR

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OMISSIONS
IN THE COMMUNICATIONS. 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 PARTIES IN CONNECTION WITH
THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE INTERIM
ADMINISTRATIVE AGENT OR ANY OF ITS AFFILIATES OR ANY OF THEIR RESPECTIVE
OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ADVISORS OR REPRESENTATIVES
(COLLECTIVELY, “AGENT
PARTIES”) HAVE ANY LIABILITY TO THE
BORROWERS, ANY LENDER PARTY OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY
KIND, INCLUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR
CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE)
ARISING OUT OF THE BORROWERS’ OR THE INTERIM ADMINISTRATIVE AGENT’S
TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE
LIABILITY OF ANY AGENT PARTY IS FOUND IN A FINAL NON-APPEALABLE JUDGMENT BY A
COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH AGENT
PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

The Interim Administrative Agent agrees that the
receipt of the Communications by the Interim Administrative Agent at its e-mail
address set forth above shall constitute effective delivery of the
Communications to the Interim Administrative Agent for purposes of the Loan
Documents. Each Lender agrees that notice to it (as provided in the next
sentence) specifying that the Communications have been posted to the Platform
shall constitute effective delivery of the Communications to such Lender for
purposes of the Loan Documents. Each Lender agrees to notify the Interim
Administrative Agent in writing (including by electronic communication) from
time to time of such Lender’s e-mail address to which the foregoing notice may
be sent by electronic transmission and (ii) that the foregoing notice may be
sent to such e-mail address. Nothing herein shall prejudice the right of the Interim
Administrative Agent or any Lender to give any notice or other communication
pursuant to any Loan Document in any other manner specified in such Loan
Document.

10.3         No Waiver; Cumulative
Remedies.  No failure to exercise and
no delay in exercising, on the part of any Agent or any Lender, any right,
remedy, power or privilege hereunder or under the other Loan Documents shall
operate as a waiver thereof; nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or
privilege.  The rights, remedies, powers
and privileges herein provided are cumulative and not exclusive of any rights,
remedies, powers and privileges provided by law.

10.4         Survival of
Representations and Warranties.  All
representations and warranties made hereunder, in the other Loan Documents and
in any document, certificate or statement delivered pursuant hereto or in
connection herewith shall survive the execution and delivery of this Agreement
and the making of the Term Loans and other extensions of credit hereunder.

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10.5         Payment of Expenses
and Taxes.  The Borrowers agree (a)
to pay or reimburse each Agent for all its reasonable out of pocket costs and
expenses incurred in connection with the development, preparation and execution
of, and any amendment, supplement or modification to, this Agreement and the
other Loan Documents and any other documents prepared in connection herewith or
therewith, and the consummation and administration of the transactions
contemplated hereby and thereby, including the reasonable fees and
disbursements of counsel to such Agent and filing and recording fees and
expenses, with statements with respect to the foregoing to be submitted to the Borrower
(i) prior to the Effective Date (in the case of amounts to be paid on the
Effective Date), (ii) prior to the Funding Date (in the case of amounts to be
paid on the Funding Date) and (iii) from time to time thereafter on a quarterly
basis or such other periodic basis as such Agent shall deem appropriate, (b) to
pay or reimburse each Lender and Agent for all its costs and expenses incurred
in connection with the enforcement or preservation of any rights under this
Agreement, the other Loan Documents and any such other documents, including the
fees, charges and disbursements of counsel (including the allocated fees and
expenses of in-house counsel) to each Lender and of counsel to such Agent, (c)
to pay, indemnify, and hold each Lender and Agent harmless from, any and all
recording and filing fees and any and all liabilities with respect to, or
resulting from any delay in paying, stamp, excise and other taxes, if any, that
may be payable or determined to be payable in connection with the execution and
delivery of, or consummation or administration of any of the transactions
contemplated by, or any amendment, supplement or modification of, or any waiver
or consent under or in respect of, this Agreement, the other Loan Documents and
any such other documents, and (d) to pay, indemnify, and hold each Lender and
Agent and their respective officers, directors, employees, affiliates, agents
and controlling persons (each, an “Indemnitee”)
harmless from and against any and all other liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, expenses or disbursements
of any kind or nature whatsoever with respect to the execution, delivery,
enforcement, performance and administration of this Agreement, the other Loan
Documents (regardless of whether any Loan Party is or is not a party to any
such actions or suits) and any such other documents, including any of the
foregoing relating to the use of proceeds of the Term Loans or the violation
of, noncompliance with or liability under, any Environmental Law applicable to the
operations of any Group Member or any of the Properties and the reasonable fees
and expenses of legal counsel in connection with claims, actions or proceedings
by any Indemnitee against any Loan Party under any Loan Document (all the
foregoing in this clause (d), collectively, the “Indemnified Liabilities”), provided, that the Borrower shall have no
obligation hereunder to any Indemnitee with respect to Indemnified Liabilities
to the extent such Indemnified Liabilities are found by a final and nonappealable
decision of a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of such Indemnitee.  Without limiting the foregoing, and to the
extent permitted by applicable law, the Borrower agrees not to assert and to cause
its Subsidiaries not to assert, and hereby waives and agrees to cause its
Subsidiaries to waive, all rights for contribution or any other rights of
recovery with respect to all claims, demands, penalties, fines, liabilities,
settlements, damages, costs and expenses of whatever kind or nature, under or
related to Environmental Laws, that any of them might have by statute or
otherwise against any Indemnitee.  All
amounts due under this Section 10.5 shall be payable not later than 10 days
after written demand therefor. 
Statements payable by the Borrower pursuant to this Section 10.5 shall
be submitted to Chief Financial Officer (Telephone No. (858) 320-8081)
(Telecopy No. (858) 784-4081), at the address of the Borrower set forth in
Section 10.2, or to such other Person or address

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as may be hereafter
designated by the Borrower in a written notice to the Interim Administrative
Agent.  The agreements in this Section
10.5 shall survive repayment of the Term Loans and all other amounts payable
hereunder.

10.6         Successors and
Assigns; Participations and Assignments. 
(a)  The provisions of this
Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns permitted hereby, except that (i)
the Borrower may not assign or otherwise transfer any of its rights or
obligations hereunder without the prior written consent of each Lender (and any
attempted assignment or transfer by the Borrower without such consent shall be
null and void) and (ii) no Lender may assign or otherwise transfer its rights
or obligations hereunder except in accordance with this Section.

(b)       (i)  Subject to
the conditions set forth in paragraph (b)(ii) below, any Lender may assign to
one or more assignees (each, an “Assignee”) all
or a portion of its rights and obligations under this Agreement (including all
or a portion of its Commitments and the Term Loans at the time owing to it)
without consent of the Borrower or the Interim Administrative Agent.

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

(A)          except in the case of an assignment
to a Lender, an affiliate of a Lender or an Approved Fund of a Lender, an
assignment effected by the Interim Administrative Agent in connection with the
initial syndication of the Commitments or an assignment of the entire remaining
amount of the assigning Lender’s Commitments or Term Loans, the amount of the
Commitments or Term Loans of the assigning Lender subject to each such
assignment (determined as of the date the Assignment and Assumption with
respect to such assignment is delivered to the Interim Administrative Agent)
shall not be less than $1,000,000 unless each of the Borrower and the Interim
Administrative Agent otherwise consent, provided that (1) no such
consent of the Borrower shall be required if an Event of Default has occurred
and is continuing and (2) such amounts shall be aggregated in respect of each
Lender and its affiliates or Approved Funds, if any;

(B)           except in the case of assignments
pursuant to clause (iii) below, the parties to each assignment shall execute
and deliver to the Interim Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500 (it being understood
that payment of only one processing fee shall be required in connection with
simultaneous assignments to two or more Approved Funds);

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(C)           except in the case of assignments
pursuant to clause (iii) below, the Assignee, if it shall not be a Lender,
shall deliver to the Interim Administrative Agent an administrative questionnaire;
and

(iii)          Notwithstanding anything in this
Section 10.6 to the contrary, a Lender may assign any or all of its rights
hereunder to an Affiliate of such Lender or an Approved Fund of such Lender
without (a) providing any notice (including, without limitation, any
administrative questionnaire) to the Interim Administrative Agent or any other
Person or (b) delivering an executed Assignment and Assumption to the Interim
Administrative Agent, provided that (A) such assigning Lender shall
remain solely responsible to the other parties hereto for the performance of
its obligations under this Agreement, (B) the Borrower, the Interim
Administrative Agent and the other Lenders shall continue to deal solely and
directly with such assigning Lender in connection with such assigning Lender’s
rights and obligations under this Agreement until an Assignment and Assumption
and an administrative questionnaire have been delivered to the Interim
Administrative Agent, (C) the failure of such assigning Lender to deliver an
Assignment and Assumption or administrative questionnaire to the Interim
Administrative Agent or any other Person shall not affect the legality,
validity or binding effect of such assignment and (D) an Assignment and
Assumption between an assigning Lender and its Affiliate or Approved Fund shall
be effective as of the date specified in such Assignment and Assumption.

(iv)          Except as otherwise provided in
clause (iii) above, subject to acceptance and recording thereof pursuant to
paragraph (b)(v) below, from and after the effective date specified in each
Assignment and Assumption the Assignee thereunder shall be a party hereto and,
to the extent of the interest assigned by such Assignment and Assumption, have
the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such
Assignment and Assumption, be released from its obligations under this
Agreement (and, in the case of an Assignment and Assumption covering all of the
assigning Lender’s rights and obligations under this Agreement, such Lender
shall cease to be a party hereto but shall continue to be entitled to the
benefits of Sections 3.9, 3.10, 3.11 and 10.5). 
Any assignment or transfer by a Lender of rights or obligations under
this Agreement that does not comply with this Section 10.6 shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such
rights and obligations in accordance with paragraph (c) of this Section.

(v)           The Interim Administrative Agent,
acting for this purpose as an agent of the Borrower, shall maintain at one of
its offices a copy of each Assignment and Assumption delivered to it and a
register for the recordation of the names and addresses of the Lenders, and the
Commitments of, and principal amount of the Term Loans owing to, each Lender
pursuant to the terms hereof

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from
time to time (the “Register”).  Subject
to the penultimate sentence of this Section 10.6(b)(v), the entries in the
Register shall be conclusive, and the Borrower, the Interim Administrative
Agent and the Lenders may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of
this Agreement, notwithstanding notice to the contrary.  In the case of an assignment to an Affiliate
or an Approved Fund of a Lender pursuant to Section 10.6(b)(iii), as to which
an Assignment and Assumption and an administrative questionnaire are not
delivered to the Interim Administrative Agent, the assigning Lender shall,
acting solely for this purpose as a non-fiduciary agent of the Borrower,
maintain a register (a “Related Party Register”) comparable to the Register on behalf of the Borrower.  The Register or Related Party Register shall
be available for inspection by the Borrower and any Lender, at any reasonable
time and from time to time upon reasonable prior notice.

(vi)          Except as otherwise provided in
clause (iii) above, upon its receipt of a duly completed Assignment and
Assumption executed by an assigning Lender and an Assignee, the Assignee’s
completed administrative questionnaire (unless the Assignee shall already be a
Lender hereunder), the processing and recordation fee referred to in paragraph
(b) of this Section and any written consent to such assignment required by
paragraph (b) of this Section, the Interim Administrative Agent shall accept
such Assignment and Assumption and record the information contained therein in
the Register.  Except as otherwise
provided in clause (iii) above, no assignment shall be effective for purposes
of this Agreement unless and until it has been recorded in the Register (or, in
the case of an assignment pursuant to clause (iii) above, the applicable
Related Party Register) as provided in this Section 10.6(b).

(c)       (i)  Any Lender
may, without the consent of the Borrower or the Interim Administrative Agent,
sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and
obligations under this Agreement (including all or a portion of its Commitments
and the Term Loans owing to it); provided that (A) such Lender’s
obligations under this Agreement shall remain unchanged, (B) such Lender shall
remain solely responsible to the other parties hereto for the performance of
such obligations and (C) the Borrower, the Interim Administrative 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.  Any agreement pursuant to which a Lender
sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or
waiver of any provision of this Agreement; provided that such agreement
may provide that such Lender will not, without the consent of the Participant,
agree to any amendment, modification or waiver that (1) requires the consent of
each Lender directly affected thereby pursuant to the proviso to the second
sentence of Section 10.1 and (2) directly affects such Participant.  Subject to paragraph (c)(ii) of this Section,
the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 3.9, 3.10 and 3.11 to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph (b) of this
Section.  To the extent permitted by law,
each Participant also shall be entitled to the

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benefits
of Section 10.7(b) as though it were a Lender, provided such Participant shall
be subject to Section 10.7(a) as though it were a Lender.

(ii)           A Participant shall not be entitled
to receive any greater payment under Section 3.9 or 3.10 than the applicable
Lender would have been entitled to receive with respect to the participation
sold to such Participant, unless the sale of the participation to such
Participant is made with the Borrower’s prior written consent.  Any Participant that is a Non-U.S. Lender
shall not be entitled to the benefits of Section 3.10 unless such Participant
complies with Section 3.10(d).

(d)       Any Lender may at any time pledge or assign a security
interest in all or any portion of its rights under this Agreement to secure
obligations of such Lender, including any pledge or assignment to secure
obligations to a Federal Reserve Bank or any other Person and may sell or
securitize such obligations, and this Section shall not apply to any such
pledge or assignment of a security interest or to any such sale or
securitization; provided that no such pledge or assignment of a security
interest shall release a Lender from any of its obligations hereunder or
substitute any such pledgee or Assignee for such Lender as a party hereto.  In addition, notwithstanding anything to the
contrary contained herein, any Lender that is a Fund may (without the consent
of or notice to the Interim Administrative Agent or the Borrower) grant a
security interest in all or any portion of the Term Loans owing to it and the
Notes (if any) held by it to the trustee or other representative of holders of
obligations owed, or securities issued, by such Fund as security for such
obligations or securities, provided that unless and until such trustee
or other representative actually becomes a Lender in compliance with the other
provisions of this Section, (i) no such pledge shall release the pledging
Lender from any of its obligations under this Agreement and (ii) such trustee
or other representative shall not be entitled to exercise any of the rights of
a Lender under this Agreement and the Notes (if any) even though such trustee
may have acquired ownership rights with respect to the pledged interest through
foreclosure or otherwise.

(e)       The Borrower, upon receipt of written notice from the
relevant Lender, agrees to issue Notes to any Lender requiring Notes to facilitate
transactions of the type described in paragraph (d) above.

(f)        Notwithstanding the foregoing, any Conduit Lender may
assign any or all of the Term Loans it may have funded hereunder to its
designating Lender without the consent of the Borrower or the Interim
Administrative Agent and without regard to the limitations set forth in Section
10.6(b).  Each of the Borrower, each
Lender and the Interim Administrative Agent hereby confirms that it will not
institute against a Conduit Lender or join any other Person in instituting
against a Conduit Lender any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceeding under any state bankruptcy or similar law,
for one year and one day after the payment in full of the latest maturing
commercial paper note issued by such Conduit Lender; provided, however,
that each Lender designating any Conduit Lender hereby agrees to indemnify,
save and hold harmless each other party hereto for any loss,

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cost,
damage or expense arising out of its inability to institute such a proceeding
against such Conduit Lender during such period of forbearance.

(g)       Notwithstanding the foregoing, any assignments by the Interim
Administrative Agent and the Documentation Agent of their Loans and Commitments
hereunder prior to a Successful Syndication shall be made on a pro rata basis
between the Interim Administrative Agent (or its Affiliates) and the
Documentation Agent (or its Affiliates).

10.7         Adjustments; Set off.  (a) 
Except to the extent that this Agreement expressly provides for payments
to be allocated to a particular Lender or to the Lenders, if any Lender (a “Benefitted Lender”) shall, at any time after the Term Loans and other
amounts payable hereunder shall immediately become due and payable pursuant to
Section 8, receive any payment of all or part of the Interim Obligations owing
to it, or receive any collateral in respect thereof (whether voluntarily or
involuntarily, by set off, pursuant to events or proceedings of the nature
referred to in Section 8(f), or otherwise), in a greater proportion than any
such payment to or collateral received by any other Lender, if any, in respect
of the Interim Obligations  owing to such
other Lender, such Benefitted Lender shall purchase for cash from the other
Lenders a participating interest in such portion of the Interim Obligations
owing to each such other Lender, or shall provide such other Lenders with the
benefits of any such collateral, as shall be necessary to cause such Benefitted
Lender to share the excess payment or benefits of such collateral ratably with
each of the Lenders; provided, however, that if all or any
portion of such excess payment or benefits is thereafter recovered from such
Benefitted Lender, such purchase shall be rescinded, and the purchase price and
benefits returned, to the extent of such recovery, but without interest.

(b)       In addition to any rights and remedies of the Lenders
provided by law, but subject to Section 5.4(b), each Lender shall have the
right, without prior notice to either Borrower, any such notice being expressly
waived by each Borrower to the extent permitted by applicable law, upon any
amount becoming due and payable by a Borrower hereunder (whether at the stated
maturity, by acceleration or otherwise), to set off and appropriate and apply
against such amount any and all deposits (general or special, time or demand,
provisional or final), in any currency, and any other credits, indebtedness or
claims, in any currency, in each case whether direct or indirect, absolute or
contingent, matured or unmatured, at any time held or owing by such Lender or
any branch or agency thereof to or for the credit or the account of that Borrower,
as the case may be.  Each Lender agrees
promptly to notify the Borrower and the Interim Administrative Agent after any
such setoff and application made by such Lender, provided that the
failure to give such notice shall not affect the validity of such setoff and
application.

10.8         Counterparts.  This Agreement may be executed by one or more
of the parties to this Agreement on any number of separate counterparts, and
all of said counterparts taken together shall be deemed to constitute one and
the same instrument.  Delivery of an
executed signature page of this Agreement by facsimile transmission shall be
effective as delivery of a manually executed counterpart hereof.  A set of the copies of this Agreement signed
by all the parties shall be lodged with the Borrower and the Interim
Administrative Agent.

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10.9         Severability.  Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

10.10       Integration.  This Agreement and the other Loan Documents
represent the entire agreement of the Borrower, the Agents and the Lenders with
respect to the subject matter hereof and thereof, and there are no promises,
undertakings, representations or warranties by any Agent or any Lender relative
to subject matter hereof not expressly set forth or referred to herein or in
the other Loan Documents.

10.11      GOVERNING LAW.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

10.12       Submission To
Jurisdiction; Waivers.  Each Borrower
hereby irrevocably and unconditionally:

(a)       submits for itself and its property in any legal
action or proceeding relating to this Agreement and the other Loan Documents to
which it is a party, or for recognition and enforcement of any judgment in
respect thereof, to the non exclusive general jurisdiction of the courts of the
State of New York sitting in the borough of Manhattan, the courts of the United
States for the Southern District of New York, and appellate courts from any
thereof;

(b)       consents that any such action or proceeding may be
brought in such courts and waives any objection that it may now or hereafter
have to the venue of any such action or proceeding in any such court or that
such action or proceeding was brought in an inconvenient court and agrees not
to plead or claim the same;

(c)       agrees that service of process in any such action or
proceeding may be effected by mailing a copy thereof by registered or certified
mail (or any substantially similar form of mail), postage prepaid, to the Borrower
at its address set forth in Section 10.2 or at such other address of which the Interim
Administrative Agent shall have been notified pursuant thereto;

(d)       agrees that nothing herein shall affect the right to
effect service of process in any other manner permitted by law or shall limit
the right to sue in any other jurisdiction;

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(e)       waives, to the maximum extent not prohibited by law,
any right it may have to claim or recover in any legal action or proceeding
referred to in this Section any special, exemplary, punitive or consequential
damages; and

(f)        The Irish Borrower irrevocably designates and appoints
the Company, as its authorized agent, to accept and acknowledge on its behalf,
service of any and all process which may be served in any suit, action or proceeding
of the nature referred to in this Section 10.12 in any federal or New York
State court sitting in New York City and any appellate courts from any
thereof.  The Company hereby represents,
warrants and confirms that the Company has agreed to accept such
appointment.  Said designation and
appointment shall be irrevocable by the Irish Borrower until all Term Loans,
interest thereon and all other amounts payable by the Irish Borrower hereunder
and under the other Loan Documents shall have been paid in full in accordance
with the provisions hereof and thereof. 
The Irish Borrower hereby consents to process being served in any suit,
action or proceeding of the nature referred to in this Section 10.12 in any
federal or New York State court sitting in New York City or any appellate
courts from any thereof by service of process upon the Company as provided in
this Section 10.12;  provided
that, to the extent lawful and possible, notice of said service upon such agent
shall be mailed by registered or certified air mail, postage prepaid, return
receipt requested, to the Company and (if applicable to) the Irish Borrower to
the address of which the Irish Borrower shall have given written notice to the
Interim Administrative Agent (with a copy thereof to the Company).  The Irish Borrower irrevocably waives, to the
fullest extent permitted by law, all claim of error by reason of any such
service in such manner and agrees that such service shall be deemed in every
respect effective service of process upon the Irish Borrower in any such suit,
action or proceeding and shall, to the fullest extent permitted by law, be
taken and held to be valid and personal service upon and personal delivery to
the Irish Borrower.  To the extent the Irish
Borrower has or hereafter may acquire any immunity from jurisdiction of any
court of from any legal process (whether from service or notice, attachment
prior to judgment, attachment in aid of execution of a judgment, execution or
otherwise), the Irish Borrower hereby irrevocably waives such immunity in
respect of its obligations under the Loan Documents.  Nothing in this Agreement or any other Loan
Document will affect the right of any party to this Agreement to serve process
in any other manner permitted by law.

10.13       Acknowledgments.  Each Borrower hereby acknowledges that:

(a)       it has been advised by counsel in the negotiation,
execution and delivery of this Agreement and the other Loan Documents;

(b)       no Agent or Lender has any fiduciary relationship with
or duty to the Borrower arising out of or in connection with this Agreement or
any of the other Loan Documents, and the relationship between the Agents and
Lenders, on one hand, and the Borrower, on the other hand, in connection
herewith or therewith is solely that of debtor and creditor; and

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(c)       no joint venture is created hereby or by the other
Loan Documents or otherwise exists by virtue of the transactions contemplated
hereby among the Lenders or among the Borrower and the Lenders.

10.14       Release of Guarantees
and Liens; Termination.  (a)  Notwithstanding anything to the contrary
contained herein or in any other Loan Document, the Interim Administrative
Agent is hereby irrevocably authorized by each Secured Party (without
requirement of notice to or consent of any Lender except as expressly required
by Section 10.1) to take any action requested by the Borrower having the effect
of releasing any guarantee obligations to the extent necessary to permit
consummation of any transaction not prohibited by any Loan Document (including,
without limitation, the release of any Guarantor from its obligations if such
Person ceases to be a Subsidiary as a result of a transaction permitted
hereunder) or that has been consented to in accordance with Section 10.1.

(b)       At such time as (i) the Term Loans and the other
Interim Obligations (other than Unasserted Contingent Obligations and
obligations (other than Unasserted Contingent Obligations) under or in respect
of Hedge Agreements) shall have been paid in full (or cash collateralized in a
manner satisfactory to the Interim Administrative Agent) and (ii) the
Commitments have been terminated, the Collateral shall be released from the
Liens created by the Security Documents, and the Security Documents and all
obligations (other than those expressly stated to survive such termination) of
the Interim Administrative Agent and each Loan Party under the Security
Documents shall terminate, all without delivery of any instrument or
performance of any act by any Person.

(c)       If the Acquisition shall not have been consummated
upon the expiration of the Certain Funds Period, this Agreement and all other
Loan Documents shall terminate without delivery of any instrument or
performance of any act by any Person.

10.15       Confidentiality.  Each Agent and each Lender agrees to keep confidential
all non-public information provided to it by any Loan Party pursuant to this
Agreement that is designated by such Loan Party as confidential; provided
that nothing herein shall prevent any Agent or any Lender from disclosing any
such information (a) to any Agent, any other Lender or any Affiliate of a
Lender or any Approved Fund of a Lender, (b) subject to an agreement to comply
with the provisions of this Section, to any actual or prospective Transferee or
any direct or indirect counterparty to any Hedge Agreement (or any professional
advisor to such counterparty), (c) to its employees, directors, agents,
attorneys, accountants and other professional advisors or those of any of its
affiliates, (d) upon the request or demand of any Governmental Authority, (e)
in response to any order of any court or other Governmental Authority or as may
otherwise be required pursuant to any Requirement of Law, (f) if requested or
required to do so in connection with any litigation or similar proceeding, (g)
that has been publicly disclosed, (h) to the National Association of Insurance
Commissioners or any similar organization or any nationally recognized rating
agency that requires access to information about a Lender’s investment
portfolio in connection with ratings issued with respect to such Lender, or (i)
in connection with the exercise of any remedy hereunder or under any other Loan
Document, provided that, unless specifically prohibited by applicable
law or court order, each Lender shall

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notify the Company of any
request by any Governmental Authority or representative thereof (other than any
such request in connection with any examination of the financial condition or
other routine examination of such Lender by such Governmental Authority) for
disclosure of any such non-public information prior to disclosure of such
information.

10.16      WAIVERS OF JURY TRIAL.  EACH BORROWER, THE AGENTS AND THE LENDERS
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION
OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY
COUNTERCLAIM THEREIN.

10.17       Patriot Act Notice.  Each Lender and the Interim Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Loan
Parties that pursuant to the requirements of the Patriot Act, it may be
required to obtain, verify and record information that identifies each Loan
Party, which information includes the name and address of such Loan Party and
other information that will allow such Lender or the Interim Administrative
Agent, as applicable, to identify such Loan Party in accordance with the
Patriot Act.  The Borrower shall, and
shall cause each of its Subsidiaries to, provide, to the extent commercially
reasonable, such information and take such actions as are reasonably requested
by the Interim Administrative Agent or any Lenders in order to assist the Interim
Administrative Agent and the Lenders in maintaining compliance with the Patriot
Act.

10.18       Delivery of Addenda.  Each initial Lender may become a party to this
Agreement by delivering to the Interim Administrative Agent an Addendum duly
executed by such Lender.

SECTION 11.    GUARANTEE

11.1         Guarantee.

(a)       Each of the Guarantors hereby, jointly and severally,
unconditionally and irrevocably, guarantees to the Interim Administrative
Agent, for the benefit of the Lenders, the prompt and complete payment and
performance by the Borrowers when due (whether at the stated maturity, by
acceleration or otherwise) of each and all of the Interim Obligations.  The Company hereby, unconditionally and
irrevocably, guarantees to the Interim Administrative Agent, for the benefit of
the Lenders, the prompt and complete payment and performance by the Irish
Borrower when due (whether at the stated maturity, by acceleration or otherwise)
of each and all of the Interim Obligations.

(b)       Each Guarantor shall be liable under its guarantee set
forth in Section 11.1(a), without any limitation as to amount, for all present
and future Interim Obligations, including specifically all future increases in
the outstanding amount of the Term Loans and other future increases in the
Interim Obligations, whether or not any such increase is committed,
contemplated or provided for by the Loan Documents on the date hereof; provided,
that (i) enforcement of such guarantee against such Guarantor will be limited
as necessary to

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limit
the recovery under such guarantee to the maximum amount which may be recovered
without causing such enforcement or recovery to constitute a fraudulent
transfer or fraudulent conveyance under any applicable law, including any
applicable federal or state fraudulent transfer or fraudulent conveyance law
(after giving effect, to the fullest extent permitted by law, to the
reimbursement and contribution rights set forth in Section 11.2) and (ii) to
the fullest extent permitted by applicable law, the foregoing clause (i) shall
be for the benefit solely of creditors and representatives of creditors of each
Guarantor and not for the benefit of such Guarantor or the holders of any equity
interest in such Guarantor.

(c)       The guarantees contained in this Section 11.1 (i)
shall remain in full force and effect until all the Interim Obligations and the
obligations of each Guarantor under the guarantee contained in this Section
11.1 have been paid in full and all Commitments have terminated,
notwithstanding that from time to time during the term of this Agreement the
Borrower may be free from any Interim Obligations, (ii) unless released as
provided in clauses (iii) and (iv) below, shall survive the repayment of the Term
Loans, the termination of Commitments, and remain enforceable as to all Interim
Obligations that survive such repayment, termination and release, (iii) shall
be released at such time as the Term Loans and all other Interim Obligations
have been paid in full and all Commitments have terminated (except to the
extent any such guarantee is expressly stated to survive such termination) all
without delivery of any instrument or performance of any act by any party; and
(iv) shall be released with respect to any Subsidiary of the Company in the
event that all of the Capital Stock of such Subsidiary is sold, transferred or
otherwise disposed of in a transaction permitted by this Agreement; provided
that the Company shall have delivered to the Interim Administrative Agent, at
least ten days prior to the date of the proposed release, a written request for
release identifying the relevant Subsidiary and the terms of sale or other
disposition in reasonable detail, including the price thereof and any expenses
in connection therewith, together with a certification by the Company stating
that such transaction is in compliance with this Agreement and the other Loan
Documents.

(d)       No payment made by the Borrower, any of the
Guarantors, any other guarantor or any other Person or received or collected by
any Lender from the Borrower, any of the Guarantors, any other guarantor or any
other Person by virtue of any action or proceeding or any set-off or
appropriation or application at any time or from time to time in reduction of
or in payment of the Interim Obligations shall be deemed to modify, reduce,
release or otherwise affect the liability of any Guarantor hereunder in respect
of any other Interim Obligations then outstanding or thereafter incurred.

11.2         Reimbursement,
Contribution, Subrogation.  In case
any payment is made on account of the Interim Obligations by the Borrower or
any Guarantor or is received or collected on account of the Interim Obligations
from the Borrower or any Guarantor or its property:

(a)       If such payment is made by the Borrower or from its
property, the Borrower shall not be entitled (i) to demand or enforce
reimbursement or contribution in respect

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of
such payment from any other Guarantor or (ii) to be subrogated to any claim,
interest, right or remedy of any Lender against any other Person, including any
other Guarantor or its property.

(b)       If such payment is made by the Borrower or from its
property or if any payment is made by the Borrower or from its property in
satisfaction of the reimbursement right of any Guarantor set forth in Section
11.2(c), the Borrower shall not be entitled (i) to demand or enforce
reimbursement or contribution in respect of such payment from any other
Guarantor or (ii) to be subrogated to any claim, interest, right or remedy of
any Lender against any other Person, including any other Guarantor or its
property.

(c)       If such payment is made by a Guarantor or from its
property, such Guarantor shall be entitled, subject to and upon payment in full
of all outstanding Interim Obligations and termination of all commitments to
extend credit under the Loan Documents, (i) to demand and enforce reimbursement
for the full amount of such payment from the Borrower and (ii) to demand and
enforce contribution in respect of such payment from each other Guarantor which
has not paid its fair share of such payment, as necessary to ensure that (after
giving effect to any enforcement of reimbursement rights provided hereby) each
Guarantor pays its fair share of the unreimbursed portion of such payment. For
this purpose, the fair share of each Guarantor as to any unreimbursed payment
shall be determined based on an equitable apportionment of such unreimbursed
payment among all Guarantors based on the relative value of their assets (net
of their liabilities, other than Interim Obligations) and any other equitable
considerations deemed appropriate by the court.

(d)       [Intentionally Deleted]

(e)       All rights and claims arising under this Section 11.2
or based upon or relating to any other right of reimbursement, indemnification,
contribution or subrogation that may at any time arise or exist in favor of any
Guarantor as to any payment on account of the Interim Obligations made by it or
received or collected from its property shall be fully subordinated in all
respects to the prior payment in full of all of the Interim Obligations.  Until payment in full of the Interim Obligations
and termination of all commitments to extend credit under the Loan Documents,
no Guarantor shall demand or receive any collateral security, payment or
distribution whatsoever (whether in cash, property or securities or otherwise)
on account of any such right or claim. 
If any such payment or distribution is made or becomes available to any
Guarantor, such payment or distribution shall be delivered by the person making
such payment or distribution directly to the Interim Administrative Agent, for
application to the payment of the Interim Obligations in accordance with
Section 11.7.  If any such payment or
distribution is received by any Guarantor, it shall be held by such Guarantor
in trust, as trustee of an express trust for the benefit of the Lenders, and
shall forthwith be transferred and delivered by such Guarantor to the Interim
Administrative Agent, in the exact form received and, if necessary, duly
endorsed.

 102
 

(f)        The obligations of the Guarantors under the Loan
Documents, including their liability for the Interim Obligations are not
contingent upon the validity, legality, enforceability, collectibility or
sufficiency of any right of reimbursement, contribution or subrogation arising
under this Section 11.2. To the fullest extent permitted under applicable law,
the invalidity, insufficiency, unenforceability or uncollectibility of any such
right shall not in any respect diminish, affect or impair any such obligation
or any other claim, interest, right or remedy at any time held by any Lender
against any Guarantor or its property. 
The Lenders make no representations or warranties in respect of any such
right and shall, to the fullest extent permitted under applicable law, have no
duty to assure, protect, enforce or ensure any such right or otherwise relating
to any such right.

(g)       Each Guarantor reserves any and all other rights of
reimbursement, contribution or subrogation at any time available to it as
against any other Guarantor, but (i) the exercise and enforcement of such
rights shall be subject to this Section 11.2 and (ii) to the fullest extent
permitted by applicable law, neither the Interim Administrative Agent nor any
other Lender shall ever have any duty or liability whatsoever in respect of any
such right.

11.3         Amendments, etc. with
respect to the Interim Obligations. 
To the fullest extent permitted by applicable law, each Guarantor shall
remain obligated hereunder notwithstanding that, without any reservation of
rights against any Guarantor and without notice to or further assent by any
Guarantor, any demand for payment of any of the Interim Obligations made by any
Lender may be rescinded by such Lender and any of the Interim Obligations
continued, and the Interim Obligations, or the liability of any other Person
upon or for any part thereof, or any collateral security or guarantee therefor
or right of offset with respect thereto, may, from time to time, in whole or in
part, be renewed, extended, amended, modified, accelerated, compromised,
waived, surrendered or released by any Lender, and this Agreement and the other
Loan Documents and any other documents executed and delivered in connection
therewith may be amended, amended and restated, supplemented, replaced,
refinanced, otherwise modified or terminated, in whole or in part, as the
Interim Administrative Agent (or the requisite Lenders) may deem advisable from
time to time, and any guarantee or right of offset at any time held by any
Lender for the payment of the Interim Obligations may be sold, exchanged,
waived, surrendered or released.  No
Lender shall have any obligation to protect, secure, perfect or insure any lien
at any time held by it as security for the Interim Obligations or for the
guarantee contained in this Section 11 or any property subject thereto, except
to the extent required by applicable law.

11.4         Guarantee Absolute and
Unconditional.  To the fullest extent
permitted by applicable law, each Guarantor waives any and all notice of the
creation, renewal, extension or accrual of any of the Interim Obligations and
notice of or proof of reliance by any Lender upon the guarantee contained in
this Section 11 or acceptance of the guarantee contained in this Section
11.  The Interim Obligations, and each of
them, shall conclusively be deemed to have been created, contracted or incurred,
or renewed, extended, amended or waived, in reliance upon the guarantee
contained in this Section 11.  All
dealings between the Borrower and any of the Guarantors, on the one hand, and
the Lenders, on the other hand, likewise shall be conclusively presumed to have
been had or consummated in reliance upon the guarantee contained in this
Section 11.  To the fullest extent
permitted by applicable law, each Guarantor waives diligence,

 103
 

presentment, protest,
demand for payment and notice of default or nonpayment to or upon the Borrower
or any of the Guarantors with respect to the Interim Obligations.  Each Guarantor understands and agrees that
the guarantee contained in this Section 11 shall be construed, to the fullest
extent permitted by applicable law, as a continuing, absolute and unconditional
guarantee of payment without regard to (a) the validity or enforceability of
this Agreement or any other Loan Document, any of the Interim Obligations or
any other collateral security therefor or guarantee or right of offset with
respect thereto at any time or from time to time held by any Lender, (b) any
defense, set-off or counterclaim (other than a defense of payment or
performance) which may at any time be available to or be asserted by the
Borrower or any other Person against any Lender, or (c) any other circumstance
whatsoever (with or without notice to or knowledge of the Borrower or such
Guarantor) which constitutes, or might be construed to constitute, an equitable
or legal discharge of the Borrower for the Interim Obligations or of such Guarantor
under the guarantee contained in this Section 11, in bankruptcy or in any other
instance.  When making any demand
hereunder or otherwise pursuing its rights and remedies hereunder against any
Guarantor, any Lender may, but shall be under no obligation to, make a similar
demand on or otherwise pursue such rights and remedies as it may have against
the Borrower, any other Guarantor or any other Person or against any collateral
security or guarantee for the Interim Obligations or any right of offset with
respect thereto, and any failure by any Lender to make any such demand, to
pursue such other rights or remedies or to collect any payments from the
Borrower, any other Guarantor or any other Person or to realize upon any such
guarantee or to exercise any such right of offset, or any release of the
Borrower, any other Guarantor or any other Person or any such guarantee or
right of offset, shall not relieve any Guarantor of any obligation or liability
hereunder, and shall not impair or affect the rights and remedies, whether
express, implied or available as a matter of law, of any Senior Secured Party
against any Guarantor.  For the purposes
hereof “demand” shall include the commencement and continuance of any legal
proceedings.

11.5         Reinstatement.  The guarantee contained in this Section 11
shall be reinstated and shall remain in all respects enforceable to the extent
that, at any time, any payment of any of the Interim Obligations is set aside,
avoided or rescinded or must otherwise be restored or returned by any Lender
upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of
the Borrower or any Guarantor, or upon or as a result of the appointment of a
receiver, intervenor or conservator of, or trustee or similar officer for, the
Borrower or any Guarantor or any substantial part of its property, or
otherwise, in whole or in part, and such reinstatement and enforceability
shall, to the fullest extent permitted by applicable law, be effective as fully
as if such payment had not been made.

11.6         Payments.  Each Guarantor hereby agrees to pay all
amounts payable by it under this Section 11 to the Interim Administrative Agent
without set-off or counterclaim in Dollars in immediately available funds at
the Funding Office specified in this Agreement.

11.7         Application of
Proceeds.  At such intervals as may
be agreed upon by the Borrower and the Interim Administrative Agent, or, if and
whenever any Event of Default has occurred and is continuing, the Interim
Administrative Agent may apply all or any part of any proceeds of the guarantee
set forth in this Section 11, in payment of the Interim Obligations in the
following order:  first, to unpaid and
unreimbursed costs, expenses and fees of the Interim Administrative Agent
(including to reimburse ratably any other Lenders which have advanced

 104
 

any of the same to the
Interim Administrative Agent), second, to the Interim Administrative Agent, for
application by it toward payment of all amounts then due and owing and
remaining unpaid in respect of the Interim Obligations, pro rata among the Lenders according to
the amount of the Interim Obligations then due and owing and remaining unpaid
to the Lenders, and third, to the Interim Administrative Agent, for application
by it toward prepayment of the Interim Obligations, pro rata among the Lenders according to the amount of the
Interim Obligations then held by the Lenders. 
For purposes of this Section, to the extent that any Interim Obligation
is unmatured, unliquidated or contingent (other than Unasserted Contingent
Obligations) at the time any distribution is to be made pursuant to clause
Second above, the Interim Administrative Agent shall allocate a portion of the
amount to be distributed pursuant to such clause for the benefit of the Lenders
holding such Interim Obligations and shall hold such amounts for the benefit of
such Lenders until such time as such Interim Obligations become matured,
liquidated and/or payable at which time such amounts shall be distributed to
the holders of such Interim Obligations to the extent necessary to pay such
Interim Obligations in full (with any excess to be distributed in accordance
with this Section as if distributed at such time).  In making determinations and allocations
required by this Section, the Interim Administrative Agent may conclusively
rely upon information provided to it by the holder of the relevant Interim
Obligations (which, in the case of the immediately preceding sentence shall be
a reasonable estimate of the amount of the Interim Obligations) and shall not be
required to, or be responsible for, ascertaining the existence of or amount of
any Interim Obligations.

 105
 

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

	
   

  	
  WEBSENSE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Douglas C. Wride

  	
   

  
	
   

  	
   

  	
  Name:  Douglas
  C. Wride

  
	
   

  	
   

  	
  Title:  Chief
  Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Present when the Common Seal of WEBSENSE

  INTERNATIONAL LIMITED was hereunto

  affixed in the presence of:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Declan Drislane

  	
   

  
	
   

  	
   

  	
  Name:  Declan
  Drislane

  
	
   

  	
   

  	
  Title: Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Carroll

  	
   

  
	
   

  	
   

  	
  Name:  David
  Carroll

  
	
   

  	
   

  	
  Title: Director 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PORT AUTHORITY TECHNOLOGIES, INC., as a

  Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Douglas C. Wride

  	
   

  
	
   

  	
   

  	
  Name:  Douglas
  C. Wride

  
	
   

  	
   

  	
  Title:  Chief
  Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MORGAN STANLEY SENIOR FUNDING, INC.,

  as Sole Lead Arranger and Sole Bookrunner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Andrew Earls

  	
   

  
	
   

  	
   

  	
  Name:  Andrew
  Earls

  
	
   

  	
   

  	
  Title:  VP

  
	
   

  	
   

  

 

 106
 

 

	
  

  	
  MORGAN STANLEY SENIOR FUNDING, INC.,

  as Syndication Agent and as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Andrew Earls

  	
   

  
	
   

  	
   

  	
  Name:  Andrew
  Earls

  
	
   

  	
   

  	
  Title:  VP

  

 

 107
 

 

	
  

  	
  MORGAN STANLEY SENIOR FUNDING, INC., as Interim
  Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Andrew Earls

  	
   

  
	
   

  	
   

  	
  Name:  Andrew
  Earls

  
	
   

  	
   

  	
  Title:  VP

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A., as Documentation Agent and as
  a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Fred L. Thorne

  	
   

  
	
   

  	
   

  	
  Name:  Fred L.
  Thorne

  
	
   

  	
   

  	
  Title: 
  Managing Director

  

 

 108Exhibit
10.31

ADDENDUM
TO STOCK OPTION AGREEMENTS

This ADDENDUM TO
STOCK OPTION AGREEMENTS, dated December ___, 2006, is entered into by and
between BED BATH & BEYOND INC. (the “Company”) and _____ (“you”).

WHEREAS, the
Company and you are parties to those certain Stock Option Agreements listed on
Exhibit A hereto (each, an “Agreement” and together, the “Agreements”) under
each of (as applicable) the Company’s 1992 Stock Option Plan, 1996 Stock Option
Plan, 1998 Stock Option Plan, 2000 Stock Option Plan and 2004 Incentive
Compensation Plan, each as may have been amended from time to time
(collectively, the “Plans”) pursuant to which you were granted the right to
purchase common stock of the Company some of which you have not exercised as of
the date hereof and which were not vested as of January 1, 2005 (the “Affected
Options”);

WHEREAS, Section
409A of the Internal Revenue Code of 1986, as amended (“409A”) generally
provides that unless certain requirements are satisfied, amounts deferred under
a nonqualified deferred compensation plan are subject to income tax, an
additional 20% tax and possible penalty interest upon vesting of such amounts
and possibly beyond vesting;

WHEREAS, for
purposes of 409A, a stock option granted with an exercise price that has been
deemed to be less than the fair market value of the underlying common stock of
the Company on the date of grant (a “Discounted Stock Option”) and that has not
vested by January 1, 2005, is treated as deferred compensation subject to the
requirements of 409A;

WHEREAS,
Q&A-18(d) of Internal Revenue Service Notice 2005-1 (“Notice 2005-1”), as
modified by the proposed regulations under 409A and as further modified by
Internal Revenue Service Notice 2006-79 (“Notice 2006-79”) generally permits
the substitution of the exercise price of a Discounted Stock Option with a new
exercise price equal to fair market value (as defined under the applicable
Plan) of the Company’s common stock on the deemed date of grant, provided that
the substitution occurs on or before December 31, 2006 in certain instances
with respect to persons subject to the disclosure requirements of Section 16 of
the Securities Exchange Act of 1934, as amended; and

WHEREAS, the
Affected Options have been deemed to be Discounted Stock Options subject to
409A;

WHEREAS, the
parties hereto desire to amend the Agreements to substitute the exercise price
thereunder so that the Affected Options will not be deemed Discounted Stock
Options and will not constitute a deferral of compensation under 409A; and

WHEREAS, the Compensation Committee of the Company’s
Board of Directors has authorized the entering into of this Addendum.

NOW THEREFORE, in
consideration of the foregoing, the parties agree as follows:

1.                         The exercise price of each of your Affected
Options is hereby replaced with a new exercise price as set forth on the chart
attached hereto as Exhibit B (such exercise price hereinafter referred to as
the “Measurement Date Price”).  Each such
Measurement Date Price reflects the fair market value, as such term is defined
under each applicable Plan, of the Company’s common stock on the deemed date of
grant of each Affected Option.

2.                         You shall not exercise any of your Affected
Options during the 2006 calendar year.

3.                         You hereby waive any right to receive the difference
between the original exercise price set forth in each Agreement and the
applicable Measurement Date Price with respect to each Affected Option under
any circumstance.

4.                         Other than with respect to the substitution
of the exercise price of the Affected Options as contemplated hereunder, all
other terms and conditions of the Affected Options shall remain in full force
and effect in accordance with the Agreements and the applicable Plan.

5.                         This Addendum is intended to comply with
409A and the Company shall construe, interpret and amend the provisions of this
Addendum, the applicable Plans and the Agreements (as amended hereby) in such
manner as the Company deems necessary, in its sole discretion, to comply with
409A.  It is intended that the modification
effected by this Addendum and the substitution of the exercise price of the
Affected Options hereunder constitute a cancellation and reissuance of stock
options in accordance with the transition relief under Notice 2005-1,
Q&A-18(d), as modified by the proposed regulations under 409A and as
further modified by Notice 2006-79.

IN WITNESS
WHEREOF, the Company and you have executed this Addendum on the date first set
forth above.

BED BATH &
BEYOND INC.

	
  By:________________________________

  	
   

  	
  ______________________________

  

 

 2

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