Document:

Exhibit 10.12

Intercreditor Agreement

dated as of March 10, 2008

between

Bank of America, N.A.,

in its capacity as the Company Facility Agent

and

KeyBank National Association,

in its capacity as GAC Facility Agent

 

 

Intercreditor Agreement

     This Intercreditor Agreement dated as of March 10, 2008 (this
“Agreement”), is entered into between Bank of America, N.A., in its capacity as
the Company Facility Agent (as defined below) and KeyBank National Association, in its capacity as
GAC Facility Agent (as defined below).

Recitals

     A. Cogdell Spencer LP, a Maryland limited partnership (the “Company”), the lenders
from time to time party thereto (the “Company Facility Lenders”), and Bank of America,
N.A., as Administrative Agent (in such capacity, the “Company Facility Agent”), have
entered into that certain Credit Agreement dated as of the date hereof (as amended, restated,
supplemented, modified, replaced or refinanced from time to time, the “Company Credit
Agreement”) providing for a revolving credit facility.

     B. Goldenboy Acquisition Corp., a Wisconsin corporation (“GAC”), the lenders from time
to time party thereto (the “GAC Lenders”), and KeyBank National Association, as Agent (in
such capacity, the “GAC Facility Agent”), entered into that certain Senior Secured Term
Loan Agreement dated as of the date hereof (as amended, restated, supplemented, modified, replaced
or refinanced from time to time, the “GAC Term Loan Agreement”) providing for a
$100,000,000 term loan facility.

     C. Pursuant to (i) the Facility Guaranty (as defined in the Company Credit Agreement) Cogdell
Spencer Inc. (“CSI”), CS Business Trust I and CS Business Trust II (together with CSI,
collectively, the “Parent Companies”), have agreed to guaranty the Company Facility
Obligations (as defined in Section 1.1 below) (the obligations under the Facility Guaranty to the
extent applicable to the Parent Guarantors are herein referred to, collectively, as the
“Company Facility Parent Guaranties”); (ii) the Company Credit Agreement, the Company has
agreed to cause certain current and future subsidiaries of CSI (the “Company Facility
Subsidiary Guarantors”) to agree to guaranty the Company Facility Obligations pursuant to the
Facility Guaranty (the obligations under the Facility Guaranty to the extent applicable to the
Subsidiary Guarantors are herein referred to, collectively, as the “Company Facility Subsidiary
Guaranty”); (iii) the Guaranty (as defined in the GAC Term Loan Agreement), the Parent
Companies and the Company have agreed to guaranty the GAC Facility Obligations (as defined in
Section 1.1 below) (the obligations under the Guaranty to the extent applicable to the Parent
Guarantors and the Company are herein referred to, collectively, as the “GAC Facility Parent
Guaranty”), (iv) the GAC Term Loan Credit Agreement, GAC has agreed to cause certain current
and future Subsidiaries of GAC (the “GAC Facility Subsidiary Guarantors”) to agree to
guaranty the GAC Facility Obligations pursuant to the Guaranty (the obligations under the Guaranty
to the extent applicable to the GAC Subsidiary Guarantors are herein referred to, collectively, as
the “GAC Facility Subsidiary Guaranty”).

 

 

     D. The Company Facility Obligations, and the obligations of the Company Facility Subsidiary
Guarantors under the Company Facility Subsidiary Guaranty will be secured on a first priority basis
by liens on certain real property of some or all of the Company Facility Subsidiary Guarantors (the
“Company Facility Collateral”) pursuant to the terms of the Company Facility Collateral
Documents (as defined in Section 1.1 below).

     E. The obligations of GAC under the GAC Term Loan Agreement and any Hedge Obligations (as
defined in the GAC Term Loan Agreement) with the GAC Lenders (or any of their affiliates), and the
obligations of the GAC Facility Subsidiary Guarantors under the GAC Facility Subsidiary Guaranty
will be secured on a first priority basis by liens on certain assets of GAC and the GAC Facility
Subsidiary Guarantors (the “GAC Facility Collateral”) pursuant to the terms of the GAC
Facility Collateral Documents.

     F. The Company Facility Agent and the GAC Facility Agent are entering into this Agreement in
order to define their relative rights and obligations as common creditors of the Company and the
Parent Guarantors.

     In consideration of the premises and other good and valuable consideration, the
sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as
follows:

Article 1. Definitions.

     Section 1.1. Definitions. The following terms shall have the meanings assigned to them in the
Recitals hereof, in this Section 1.1 or in the provisions of this Agreement referred to below:

     “Bankruptcy Proceeding” means, with respect to any Person, a general assignment of
such Person for the benefit of its creditors, or the institution by or against such Person of any
proceeding seeking relief as debtor, or seeking to adjudicate such Person as bankrupt or insolvent,
or seeking reorganization, arrangement, adjustment or composition of such Person or its debts,
under any law relating to bankruptcy, insolvency, reorganization or relief of debtors, or seeking
appointment of a receiver, trustee, custodian or other similar official for such Person or for any
substantial part of its property.

     “Code” means the Uniform Commercial Code as the same may from time to time be in
effect in the State of New York.

     “Collateral” means the Company Facility Collateral and the GAC Facility Collateral,
collectively.

2

 

     “Collateral Documents” means the Company Facility Collateral Documents and the GAC
Facility Collateral Documents, collectively.

     “Company” is defined in the Recitals.

     “Company Credit Agreement” is defined in the Recitals.

     “Company Facility Agent” is defined in the Recitals.

     “Company Facility Collateral” is defined in the Recitals.

     “Company Facility Collateral Documents” means the Security Instruments (as defined in
the Company Credit Agreement).

     “Company Facility Creditors” means the Company Facility Agent, the Company Facility
Lenders, any other Secured Parties (as defined in the Company Credit Agreement), collectively.

     “Company Facility Documents” means the Loan Documents (as defined in the Company
Credit Agreement).

     “Company Facility Lenders” is defined in the Recitals.

     “Company Facility Obligations” means the Obligations (as defined in the Company Credit
Agreement).

     “Company Facility Parent Guaranties” is defined in the Recitals.

     “Company Facility Subsidiary Guarantors” is defined in the Recitals.

     “Company Facility Subsidiary Guaranty” is defined in the Recitals.

     “Credit Parties” means the Parent Companies and their respective Subsidiaries,
collectively.

     “Creditors” means, the Company Facility Creditors and the GAC Facility Creditors,
collectively.

     “CSI” is defined in the Recitals.

     “Enforcement Action” means (a) the exercise of any rights or remedies against any
Collateral, including, without limitation, any right to take possession or control of any
Collateral under any lockbox agreement, account control agreement, landlord waiver or bailee’s
letter or similar agreement or arrangement, any right of set-off or recoupment and any enforcement,
collection, execution, levy or foreclosure action or proceeding taken against the Collateral, in
each case whether or not any Bankruptcy Proceeding has been commenced by or against any Credit
Party, and (b) any relief from the automatic stay or any other stay in any Bankruptcy
Proceeding in order to pursue any exercise of rights or remedies described in clause (a) of
this definition.

3

 

     “Event of Default” means an “Event of Default” under the Company Credit Agreement, the
GAC Term Loan Agreement or both.

     “Excess Payment” means, as to any Creditor with respect to any Shared Recovery, an
amount equal to the amount of such Shared Recovery received by such Creditor less the Pro Rata
Share of such Shared Recovery to which such Creditor is then entitled after giving effect to the
terms hereof.

     “Facility Documents” means the Company Facility Documents or GAC Facility Documents,
as the context may require.

     “GAC” is defined in the Recitals.

     “GAC Facility Agent” is defined in the Recitals.

     “GAC Facility Collateral” is defined in the Recitals.

     “GAC Facility Collateral Documents” means the Security Documents (as defined in the
GAC Term Loan Agreement).

     “GAC Facility Creditors” means the GAC Facility Agent, the GAC Lenders and any of the
GAC Lenders or their affiliates that are holders of Hedge Obligations (as defined in the GAC Term
Loan Agreement).

     “GAC Facility Documents” means the Loan Documents (as defined in the GAC Term Loan
Agreement).

     “GAC Facility Obligations” means the Obligations and Hedge Obligations (each, as
defined in the GAC Term Loan Agreement).

     “GAC Facility Parent Guaranty” is defined in the Recitals.

     “GAC Facility Subsidiary Guarantors” is defined in the Recitals.

     “GAC Facility Subsidiary Guaranty” is defined in the Recitals.

     “GAC Lenders” is defined in the Recitals.

     “GAC Term Loan Agreement” is defined in the Recitals.

     “Lien” means any lien (including, without limitation judgment liens and liens arising
by operation of law), mortgage, pledge, assignment, security interest, charge or encumbrance of any
kind (including any agreement to give any of the foregoing, any conditional sale or other title
retention agreement, and any lease in the nature thereof) and any option, call, trust, UCC
financing statement or other preferential arrangement having the practical effect of any of the
foregoing.

4

 

     “Parent Companies” is defined in the Recitals.

     “Parent Guaranties” means the Company Facility Parent Guaranties and the GAC Facility
Parent Guaranty, collectively.

     “Person” means an individual, partnership, limited liability company, corporation,
trust or unincorporated organization, and a government or agency or political subdivision thereof.

     “Pro Rata Share” means, with respect to each Creditor as of the date of any Shared
Recovery, an amount equal to the product of (a) the amount of all Shared Recoveries made to all
Creditors on such date less all reasonable costs incurred by such Creditors in connection with the
collection of such Shared Recoveries multiplied by (b) a fraction, the numerator of which is the
aggregate amount of the Subject Obligations owing to such Creditor, and the denominator of which is
the aggregate amount of all outstanding Subject Obligations (without giving effect to the
application of any Shared Recoveries to be made on such date).

     “Proceeds” has the meaning assigned to it under the Code and, in any event, includes,
but is not limited to (a) any and all proceeds of any collection, sale or other disposition of the
Collateral, and (b) any and all amounts from time to time paid or payable under or in connection
with any of the Collateral.

     “Receiving Creditor” is defined in Section 2.1.

     “Shared Recovery” is defined in Section 2.1.

     “Subject Obligations” means all Company Facility Obligations and GAC Facility
Obligations, collectively.

     “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares of securities or other
interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency)
are at the time beneficially owned, or the management of which is otherwise controlled, directly or
indirectly, through one or more intermediaries, or both, by such Person. Unless otherwise
specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary
or Subsidiaries of CSI.

     “Subsidiary Guarantors” means the Company Facility Subsidiary Guarantors and the GAC
Facility Subsidiary Guarantors, collectively.

     “Subsidiary Guaranties” means the Company Facility Subsidiary Guaranty and the GAC
Facility Subsidiary Guaranty, collectively.

     “Trigger Event” means (i) the commencement of a Bankruptcy Proceeding with respect to
any Credit Party that constitutes an Event of Default, and (ii) the acceleration of any Subject
Obligations.

5

 

     Section 1.2. Terms Generally. The definitions of terms in this Agreement shall apply equally
to the singular and plural forms of the terms defined. Whenever the context may require, any
pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The
word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the
context requires otherwise:

     (a) any definition of or reference to any agreement, instrument or other document herein shall
be construed as referring to such agreement, instrument or other document as from time to time
amended, restated, supplemented, modified, renewed or extended;

     (b) any reference herein to any Person shall be construed to include such Person’s permitted
successors and assigns;

     (c) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be
construed to refer to this Agreement in its entirety and not to any particular provision hereof;

     (d) all references herein to Sections shall be construed to refer to Sections of this
Agreement; and

     (e) the words “asset” and “property” shall be construed to have the same meaning and effect
and to refer to any and all tangible and intangible assets and properties, including cash,
securities, accounts and contract rights.

ARTICLE 2. Sharing of Certain Recoveries.

     Section 2.1. Sharing of Certain Recoveries. The Company Facility Agent, for itself and the
Company Facility Creditors, and the GAC Facility Agent, for itself and the GAC Facility Creditors,
each hereby agrees that any payments or other recoveries (including payments and recoveries made
through setoff of deposit balances or otherwise) from the Company or any Parent Company after a
Trigger Event (each such payment or recovery, a “Shared Recovery”) shall be shared so that
each Creditor shall receive its Pro Rata Share of such Shared Recovery; provided, that the
term “Shared Recovery” shall not include any payments or recoveries (x) from any Proceeds of
Collateral (including, without limitation, dividends or distributions to the Company or any Parent
Company made with such Proceeds, but excluding any dividends or distributions that are commingled
with other funds of the Company or any Parent Company and are not “identifiable” (as defined in
Section 9-315 of the Code)), (y) from any Subsidiary Guarantor or (z) from any Distributions (as
defined in the GAC Term Loan Agreement) to the Company or any Parent Company from GAC in violation
of the terms of the GAC Term Loan Agreement, but excluding any Distributions that are commingled
with other funds of the Company or any Parent Company and are not “identifiable” (as defined in
Section 9-315 of the Code). Accordingly, in the event (i) any Creditor shall receive a Shared
Recovery (for purposes of this Section 2.1, a “Receiving Creditor”), and (ii) any other Creditor shall not
concurrently receive its Pro Rata Share of such Shared Recovery, then each Receiving Creditor (or
the Company Facility Agent or GAC Facility Agent acting on its behalf) shall promptly remit the
Excess Payment to each other Creditor (or the Company Facility Agent or GAC Facility Agent

6

 

acting on its behalf) who shall then be entitled thereto so that after giving effect to such payment (and
any other payments then being made by any other Receiving Creditor pursuant to this Section 2.1)
each Creditor shall have received its Pro Rata Share of such Shared Recovery.

     For purposes of determining the Pro Rata Share of any Shared Recovery, commitments to advance
funds shall not constitute outstanding Subject Obligations, but the undrawn amount of any
outstanding letters of credit shall constitute outstanding Subject Obligations with the Shared
Recovery attributable to such letters of credit deemed held by the Company Facility Agent or GAC
Facility Agent, as applicable. If the Company Facility Agent or GAC Facility Agent receives a
portion of a Shared Recovery pursuant to this Section 2.1 with respect to an outstanding letter of
credit and subsequently such letter of credit expires without having been drawn upon in full, such
Person shall calculate the aggregate amount that it received or retained under this Section 2.1
solely because the undrawn amount of such letter of credit was treated as an outstanding Subject
Obligation, and shall treat such amount as a Shared Recovery to be shared pursuant to this Section
2.1.

Section 2.2. Information Concerning Shared Recoveries. The Company Facility Agent and GAC Facility
Agent each agree to promptly notify the other in writing of the receipt of any Shared Recovery.
Such notice shall describe, at a minimum (i) the name of the Person that made such Shared Recovery
and the manner in which such Shared Recovery was made, (ii) the date such Shared Recovery was
received, (iii) the amount of such Shared Recovery and (iv) the amount of Subject Obligations owing
to the Receiving Creditors. Each Creditor (or the Company Facility Agent or GAC Facility Agent
acting on its behalf) shall promptly notify the Receiving Creditor (or the Company Facility Agent
or GAC Facility Agent acting on its behalf), in writing, of the amount of Subject Obligations owing
to such Creditor.

     Section 2.3. Purchase of Participations. Upon receipt of a statement of Shared Recoveries
owing under this Agreement pursuant to Section 2.2, the Company Facility Agent and GAC Facility
Agent shall calculate the Pro Rata Share of Shared Recoveries for each Creditor and all Receiving
Creditors (or the Company Facility Agent or GAC Facility Agent acting on their behalf to the extent
of the receipt thereof by the Company Facility Agent or GAC Facility Agent, as the case may be)
shall remit the appropriate amount to each Creditor entitled to share in the Shared Recoveries.
Any such payments shall be deemed to be and shall be made in consideration of the purchase for cash
at face value, but without recourse, ratably from the other Creditors of a participation interest
in such amount of Subject Obligations to the extent necessary to cause such Receiving Creditor to
share such Excess Payment with the other Creditors as provided above; provided, that if any
such purchase is made by any Receiving Creditor and if such Excess Payment or part thereof is
thereafter recovered from such Receiving Creditor by the Company or a Parent Company (including,
without limitation, by any trustee in bankruptcy of the Company or such Parent Company or any
creditor thereof), the related purchase from the other Creditors shall be rescinded ratably and the
purchase price restored as to the portion of such Excess Payment so recovered, but without
interest; and provided further nothing herein contained
shall obligate any Creditor to resort to any setoff, application of deposit balance or other
means of payment of the Subject Obligations or avail itself of any recourse by resort to any
property of any Credit Party, the taking of any such action to remain within the absolute
discretion of such Creditor without obligation of any kind to the other Creditors to take

7

 

any such
action. In the event a Creditor shall determine that it is reasonably necessary to evidence the
purchase of a participation interest in the Subject Obligations by such Creditor pursuant to the
foregoing provisions of this paragraph, the seller thereof upon the request of such Creditor shall
take such action as shall be reasonably necessary to document such purchase. Any Receiving
Creditor that sells a participation interest in Subject Obligations pursuant to the foregoing
provisions of this paragraph shall retain all of such Creditor’s rights and obligations under this
Agreement and applicable Facility Documents, including, without limitation, the right to enforce
the provisions of this Agreement and the underlying Facility Documents and to approve any
amendment, modification or waiver thereof.

Article 3. Agreements Among The Creditors.

     Section 3.1. Independent Actions by Creditors. Nothing contained in this Agreement shall
prohibit any Creditor from accelerating the maturity of, or demanding payment from any Credit Party
on, any Subject Obligation or from instituting legal action against any such Person to obtain a
judgment or other legal process in respect of any Subject Obligation, but any Shared Recoveries
shall be subject to the terms of this Agreement.

     Section 3.2. Relation of Creditors. This Agreement is entered into solely for the purposes
set forth herein, and no Creditor assumes any responsibility to any other party hereto to advise
such other party of information known to such other party regarding the financial condition of any
Credit Party or of any other circumstances bearing upon the risk of nonpayment of any Subject
Obligation. Each of the Credit Parties and the Creditors specifically acknowledges and agrees that
nothing contained in this Agreement is or is intended to be for the benefit of any Credit Party and
nothing contained herein shall limit or in any way modify any of the obligations (including,
without limitation, any Subject Obligation) of any Credit Party to any of the Creditors.

     Section 3.3. Acknowledgment of Guaranties and Liens.

          (a) The Company Facility Agent, for itself and the Company Facility Creditors, hereby
expressly acknowledges the existence of the GAC Facility Parent Guaranty and the GAC Facility
Collateral Documents, and the GAC Facility Agent, for itself and the GAC Facility Creditors, hereby
expressly acknowledges the existence of the Company Facility Parent Guaranties and the Company
Facility Collateral Documents.

          (b) Each of the Company Facility Agent, for itself and on behalf of each Company Facility
Creditor, and the GAC Facility Agent, for itself and on behalf of each GAC Facility Creditor,
agrees that it will not (and hereby waives, to the fullest extent permitted by law, any right to)
(i) contest or support any other Person in contesting, in any proceeding (including any Bankruptcy
Proceeding), any Subsidiary Guaranty or Parent Guaranty or the priority, validity, perfection or
enforceability of a Lien held by or on behalf of any of the GAC Facility
Creditors in the GAC Facility Collateral or by or on behalf of any of the Company Facility
Creditors in the Company Facility Collateral, as the case may be, or the provisions of this
Agreement, or (ii) assert, demand, request, plead or otherwise claim the benefit of, any
marshalling, appraisal, valuation or other similar right that may otherwise be available under

8

 

applicable law with respect to the GAC Facility Collateral (in the case of the Company Facility
Creditors) or Company Facility Collateral (in the case of the GAC Facility Creditors).

          (c) Until the GAC Facility Obligations have been indefeasibly paid in full in cash and all
commitments under the GAC Credit Agreement have terminated, whether or not any Bankruptcy
Proceeding has been commenced by or against any Credit Party, the Company Facility Agent, for
itself and the Company Facility Creditors:

               (i) will not contest, protest or object to any Enforcement Action brought by the GAC Facility
Agent or any GAC Facility Creditor or any other exercise by the GAC Facility Agent or any GAC
Facility Creditor of any rights and remedies relating to the GAC Facility Collateral under the GAC
Facility Collateral Documents or otherwise or any rights or remedies under the GAC Facility
Documents that are exercised in a manner consistent with this Agreement; and

               (ii) will not contest, protest or object to the forbearance by the GAC Facility Agent or any
GAC Facility Creditor from bringing or pursuing any Enforcement Action or from pursuing any rights
or remedies under the GAC Facility Documents.

          (d) Until the Company Facility Obligations have been indefeasibly paid in full in cash and all
commitments under the Company Credit Agreement have terminated, whether or not any Bankruptcy
Proceeding has been commenced by or against any Credit Party, the GAC Facility Agent, for itself
and the GAC Facility Creditors:

               (i) will not contest, protest or object to any Enforcement Action brought by the Company
Facility Agent or any Company Facility Creditor or any other exercise by the Company Facility Agent
or any Company Facility Creditor of any rights and remedies relating to the Company Facility
Collateral under the Company Facility Collateral Documents or otherwise or any rights or remedies
under the Company Facility Documents that are exercised in a manner consistent with this Agreement;
and

               (ii) will not contest, protest or object to the forbearance by the Company Facility Agent or
any Company Facility Creditor from bringing or pursuing any Enforcement Action or from pursuing any
rights or remedies under the Company Facility Documents.

     Section 3.4. Limitation on other Collateral and Guaranties.

          (a) (i) The Company Facility Agent, for itself and the Company Facility Creditors, agrees that
neither the Company Facility Agent nor any Company Facility Creditor, shall acquire or hold any
Lien as security for the Company Facility Obligations on any assets of the Company or any of the
Parent Companies (in each case other than in cash Proceeds of
Collateral received as dividends or distributions) which assets are not also subject to a Lien in
favor of the GAC Facility Agent and the GAC Facility Creditors securing the GAC Facility
Obligations on a ratable basis, and (ii) the GAC Facility Agent, for itself and the GAC Facility
Creditors, agrees that neither the GAC Facility Agent nor any GAC Facility Creditor, shall

9

 

acquire or hold any Lien as security for the GAC Facility Obligations on any assets of the Company or any
of the Parent Companies (in each case other than in cash Proceeds of Collateral for the GAC
Facility Obligations received as dividends or distributions and any Distributions (as defined in
the GAC Term Loan Agreement) to the Company or any Parent Company from GAC in violation of the
terms of the GAC Term Loan Agreement) which assets are not also subject to a Lien in favor of the
Company Facility Agent and the Company Facility Creditors securing the Company Facility Obligations
on a ratable basis.

          (b) (i) The Company Facility Agent, for itself and on behalf of each Company Facility
Creditor, agrees that neither the Company Facility Agent nor any Company Facility Creditor shall
acquire or hold any Lien on any assets of GAC or any of its Subsidiaries securing any Company
Facility Obligations or any guaranties from such Persons of any Company Facility Obligations, and
(ii) the GAC Facility Agent, for itself and on behalf of each GAC Facility Creditor, agrees that
neither the GAC Facility Agent nor any GAC Facility Creditor shall acquire or hold any Lien on any
assets of any Subsidiaries of the Company (other than GAC and its Subsidiaries) securing any GAC
Facility Obligations or any guaranties from such Persons of any GAC Facility Obligations.

Article 4. Miscellaneous

     Section 4.1. Entire Agreement. This Agreement represents the entire Agreement among the
Creditors and, except as otherwise provided, this Agreement may not be altered, amended or modified
except in a writing executed by the Company Facility Agent and the GAC Facility Agent.

     Section 4.2. Notices. Notices hereunder shall be given to the Company Facility Agent and the
GAC Facility Agent at their addresses as set forth on the date hereof for notices under the Credit
Agreement and GAC Term Loan Agreement, respectively, or at such other address as may be designated
by each in a written notice to the other parties hereto.

     Section 4.3. Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of each of the Creditors and their respective successors and assigns, whether so expressed
or not, and, in particular, shall inure to the benefit of and be enforceable by any future holder
or holders of any Subject Obligations, and the term “Creditor” shall include any such subsequent
holder of Subject Obligations, wherever the context permits. Other than each of the Creditors and
their respective successors and assigns, no Person (including, without limitation, the Credit
Parties) shall have any right, benefit, priority or interest hereunder. If either of the Company
Facility Agent or the GAC Facility Agent resigns or is replaced pursuant to the Company Credit
Agreement or the GAC Term Loan Agreement, as applicable, its successor shall be deemed to be a
party to this Agreement and shall have all the rights of, and be subject to all the obligations of,
this Agreement.

     Section 4.4. Consents, Amendment, Waivers. All amendments, waivers or consents of any
provision of this Agreement shall be effective only if the same shall be in writing and signed by
the Company Facility Agent and the GAC Facility Agent.

10

 

     Section 4.5. Counterparts. This Agreement may be executed in any number of counterparts, all
of which taken together shall constitute one agreement, and any of the parties hereto may execute
this Agreement by signing any such counterpart.

     Section 4.6. Authorization. By its signature, the Company Facility Agent represents and
warrants that it is duly authorized to execute this Agreement for the benefit of the Company
Facility Creditors, and the GAC Facility Agent represents and warrants that it is duly authorized
to execute this Agreement for the benefit of the GAC Facility Creditors.

     Section 4.7. Amendments of Subject Obligations; Conflicts. The Subject Obligations may be
amended, supplemented or otherwise modified in accordance with their terms, in each case, without
notice to, or the consent of the other Creditors, all without affecting the provisions of this
Agreement. In the event of any inconsistency or conflict between the terms and provisions of any
Facility Document and the terms and provisions of this Agreement, the terms and provisions of this
Agreement shall control in all respects.

     Section 4.8. Severability. In case any one or more of the provisions contained in this
Agreement shall be invalid, illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions of this Agreement shall not in any way be affected or
impaired thereby.

     Section 4.9. Expenses. In the event of any litigation to enforce this Agreement, the
prevailing party shall, if not reimbursed by the Company or GAC, be entitled to its reasonable
attorney’s fees (including the allocated costs of in-house counsel).

     Section 4.10. Term of Agreement. This Agreement shall terminate on the earliest to occur of
the date when (i) all Subject Obligations are paid in full and such payments are not subject to any
possibility of revocation or rescission, (ii) the Creditors no longer have any claim against the
Parent Companies or the Company as common obligors (whether as borrower or guarantors) or their
assets with respect to the Subject Obligations, and (iii) the Company Facility Agent and the GAC
Facility Agent mutually agree in a writing to terminate this Agreement.

     Section 4.11. Governing Law; Jurisdiction; Etc.

          (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAW OF THE STATE OF NEW YORK.

          (b) SUBMISSION TO JURISDICTION. EACH PARTY IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE
NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF
MANHATTAN IN THE CITY OF NEW YORK AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT
OF NEW YORK, AND ANY APPELLATE COURT FROM ANY
THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR FOR
RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE

11

 

HEARD AND
DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN
SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR
PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT
OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT SHALL AFFECT ANY RIGHT THAT ANY
CREDITOR MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT IN THE
COURTS OF ANY JURISDICTION.

          (c) WAIVER OF VENUE. EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE
OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT IN ANY COURT REFERRED TO
IN THE IMMEDIATELY PRECEDING PARAGRAPH OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN
INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

          (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE
MANNER PROVIDED FOR NOTICES IN SECTION 4.2. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY
PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

     Section 4.12. Jury Trial Waiver. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

     Section 4.13. Specific Performance. The parties hereto hereby acknowledge that legal remedies
may be inadequate and therefore the Creditors are hereby authorized to demand specific performance
of the provisions of this Agreement at any time when any Creditor shall have failed to comply with
any provision hereof. Each Creditor hereby irrevocably waives any defense
based on the adequacy of a remedy at law that might be asserted as a bar to such remedy of specific
performance.

     Section 4.14 No Strict Construction. Each party hereto hereby acknowledges that it has been
represented by counsel in connection with this Agreement and the transactions described

12

 

herein.
Each party hereto has participated jointly in the negotiation and drafting of this Agreement. In
the event an ambiguity or question of intent or interpretation arises under any provision of this
Agreement, this Agreement shall be construed as if drafted jointly by the parties hereto, and no
presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of
the authorship of any of the provisions of this Agreement.

[Signature Pages Follow]

13

 

     In Witness Whereof, each of the parties hereto has caused this Agreement to
be executed as of the date first above written.

	 	 	 	 	 	 	 	 	 
	 	 	COMPANY FACILITY AGENT:

BANK OF AMERICA, N.A., as administrative agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Scott McClintock	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	GAC FACILITY AGENT:

KEYBANK NATIONAL ASSOCIATION, as Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name	 	 
	 	 
	 

	 	 	 	Title	 	 
	 	 

Signature Page

(to Intercreditor Agreement)

 

 

          The undersigned hereby acknowledge and agree to the foregoing Agreement.

	 	 	 	 	 	 	 
	 	 	COGDELL SPENCER, INC., a Maryland

corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 

Name: Charles M. Handy
	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	COGDELL SPENCER LP, a Delaware limited 

partnership	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	CS Business Trust I, a Maryland

business trust, its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By :	 	 	 	 
	 

	 	 	 	 

Name: Charles M. Handy
	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CS BUSINESS TRUST I, a Maryland business trust	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 

Name: Charles M. Handy
	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CS BUSINESS TRUST II, a Maryland business trust	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 

Name: Charles M. Handy
	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	GOLDENBOY ACQUISITION CORP.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

Signature Page

(to Intercreditor Agreement)Exhibit 10.13

Execution Version

 

CREDIT AGREEMENT

Dated March 10, 2008

among

COGDELL SPENCER LP,

as Borrower,

COGDELL SPENCER INC.,

as a Guarantor,

BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender

and

L/C Issuer,

KEYBANK NATIONAL ASSOCIATION,

as Syndication Agent,

BRANCH BANKING & TRUST COMPANY

and

WACHOVIA BANK, NATIONAL ASSOCIATION,

As Co-Documentation Agents

and

The Other Lenders Party Hereto

BANC OF AMERICA SECURITIES LLC,

as Sole Lead Arranger and Sole Book Manager

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	 
	 	 	 	 
	1.01 Defined Terms
	 	 	1	 
	 
	 	 	 	 
	1.02 Other Interpretive Provisions
	 	 	31	 
	 
	 	 	 	 
	1.03 Accounting Terms
	 	 	32	 
	 
	 	 	 	 
	1.04 Rounding
	 	 	32	 
	 
	 	 	 	 
	1.05 Times of Day
	 	 	32	 
	 
	 	 	 	 
	1.06 Letter of Credit Amounts
	 	 	32	 
	 
	 	 	 	 
	 
	 	 	 	 
	ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	 	 	33	 
	 
	 	 	 	 
	2.01 Committed Loans
	 	 	33	 
	 
	 	 	 	 
	2.02 Borrowings, Conversions and Continuations of Committed Loans
	 	 	33	 
	 
	 	 	 	 
	2.03 Letters of Credit
	 	 	34	 
	 
	 	 	 	 
	2.04 Swing Line Loans
	 	 	42	 
	 
	 	 	 	 
	2.05 Prepayments
	 	 	45	 
	 
	 	 	 	 
	2.06 Termination or Reduction of Commitments
	 	 	45	 
	 
	 	 	 	 
	2.07 Repayment of Loans
	 	 	46	 
	 
	 	 	 	 
	2.08 Interest
	 	 	46	 
	 
	 	 	 	 
	2.09 Fees
	 	 	47	 
	 
	 	 	 	 
	2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
	 	 	47	 
	 
	 	 	 	 
	2.11 Evidence of Debt
	 	 	48	 
	 
	 	 	 	 
	2.12 Payments Generally; Agent’s Clawback
	 	 	48	 
	 
	 	 	 	 
	2.13 Sharing of Payments
	 	 	50	 
	 
	 	 	 	 
	2.14 Increase in Commitments
	 	 	51	 
	 
	 	 	 	 
	2.15 Extension of Maturity Date
	 	 	52	 
	 
	 	 	 	 
	ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	53	 
	 
	 	 	 	 
	3.01 Taxes
	 	 	53	 
	 
	 	 	 	 
	3.02 Illegality
	 	 	55	 
	 
	 	 	 	 
	3.03 Inability to Determine Rates
	 	 	55	 

i

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	3.04 Increased Costs
	 	 	56	 
	 
	3.05 Compensation for Losses
	 	 	57	 
	 
	3.06 Mitigation Obligations; Replacement Lenders
	 	 	57	 
	 
	3.07 Survival
	 	 	58	 
	 
	 	 	 	 
	ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	 	 	58	 
	 
	 	 	 	 
	4.01 Conditions of Initial Credit Extension
	 	 	58	 
	 
	4.02 Conditions to all Credit Extensions
	 	 	61	 
	 
	 	 	 	 
	ARTICLE V. CSI GUARANTY
	 	 	62	 
	 
	 	 	 	 
	5.01 CSI Guaranty
	 	 	62	 
	 
	5.02 Payment
	 	 	62	 
	 
	5.03 Guaranty Absolute
	 	 	63	 
	 
	5.04 Reinstatement
	 	 	64	 
	 
	5.05 Waiver; Subrogation
	 	 	64	 
	 
	5.06 Set-Off and Waiver
	 	 	65	 
	 
	 	 	 	 
	ARTICLE VA. SECURITY
	 	 	66	 
	 
	 	 	 	 
	5A.01 Security
	 	 	66	 
	 
	5A.02 Further Assurances
	 	 	66	 
	 
	5A.03 Information Regarding Collateral
	 	 	66	 
	 
	5A.04 Borrowing Base
	 	 	66	 
	 
	 	 	 	 
	ARTICLE VI. REPRESENTATIONS AND WARRANTIES
	 	 	69	 
	 
	 	 	 	 
	6.01 Existence, Qualification and Power; Compliance with Laws
	 	 	69	 
	 
	6.02 Authorization; No Contravention
	 	 	69	 
	 
	6.03 Governmental Authorization; Other Consents
	 	 	69	 
	 
	6.04 Binding Effect
	 	 	69	 
	 
	6.05 Financial Statements; No Material Adverse Effect
	 	 	69	 
	 
	6.06 Litigation
	 	 	70	 
	 
	6.07 No Default
	 	 	70	 
	 
	6.08 Ownership of Property; Liens
	 	 	70	 

ii

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	6.09 Environmental Compliance
	 	 	70	 
	 
	6.10 Insurance
	 	 	71	 
	 
	6.11 Taxes
	 	 	71	 
	 
	6.12 ERISA Compliance
	 	 	71	 
	 
	6.13 Subsidiaries
	 	 	71	 
	 
	6.14 Margin Regulations; Investment Company Act
	 	 	72	 
	 
	6.15 Disclosure
	 	 	72	 
	 
	6.16 Compliance with Laws
	 	 	72	 
	 
	6.17 Intellectual Property; Licenses, Etc.
	 	 	72	 
	 
	6.18 Solvency
	 	 	73	 
	 
	6.19 REIT Status
	 	 	73	 
	 
	6.20 Ground Leases; Appraised Value; Net Operating Income
	 	 	73	 
	 
	 	 	 	 
	ARTICLE VII. AFFIRMATIVE COVENANTS
	 	 	73	 
	 
	 	 	 	 
	7.01 Financial Statements
	 	 	73	 
	 
	7.02 Certificates; Other Information
	 	 	74	 
	 
	7.03 Notices
	 	 	76	 
	 
	7.04 Payment of Obligations
	 	 	77	 
	 
	7.05 Preservation of Existence, Etc.
	 	 	77	 
	 
	7.06 Maintenance of Properties
	 	 	77	 
	 
	7.07 Maintenance of Insurance
	 	 	77	 
	 
	7.08 Compliance with Laws
	 	 	78	 
	 
	7.09 Books and Records
	 	 	78	 
	 
	7.10 Inspection Rights
	 	 	78	 
	 
	7.11 Use of Proceeds
	 	 	78	 
	 
	7.12 Financial Covenants
	 	 	78	 
	 
	7.13 Additional Guarantors
	 	 	79	 
	 
	7.14 REIT Qualification; Listing on Securities Exchange
	 	 	79	 
	 
	7.15 Ownership of Borrower and GAC
	 	 	79	 
	 
	7.16 Delivery of Guarantor Certificates, Opinions, etc.
	 	 	80	 
	 
	7.17 Borrowing Base Requirements
	 	 	80	 

iii

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	7.18 Post Closing Deliveries
	 	 	80	 
	 
	 	 	 	 
	ARTICLE VIII. NEGATIVE COVENANTS
	 	 	80	 
	 
	 	 	 	 
	8.01 Liens
	 	 	81	 
	 
	8.02 Investments
	 	 	82	 
	 
	8.03 Indebtedness
	 	 	82	 
	 
	8.04 Fundamental Changes
	 	 	84	 
	 
	8.05 Dispositions
	 	 	84	 
	 
	8.06 Restricted Payments
	 	 	85	 
	 
	8.07 Change in Nature of Business
	 	 	86	 
	 
	8.08 Transactions with Affiliates and Members of the MEA Restricted Group
	 	 	86	 
	 
	8.09 Burdensome Agreements
	 	 	86	 
	 
	8.10 Use of Proceeds
	 	 	86	 
	 
	8.11 Amendments to Organization Documents
	 	 	86	 
	 
	8.12 Acquisitions
	 	 	86	 
	 
	8.13 Ownership of Property
	 	 	87	 
	 
	8.14 Amendment of GAC Term Loan Facility
	 	 	87	 
	 
	 
	 	 	 	 
	ARTICLE IX. EVENTS OF DEFAULT AND REMEDIES
	 	 	87	 
	 
	 	 	 	 
	9.01 Events of Default
	 	 	87	 
	 
	9.02 Remedies Upon Event of Default
	 	 	89	 
	 
	9.03 Application of Funds
	 	 	90	 
	 
	 	 	 	 
	ARTICLE X. ADMINISTRATIVE AGENT
	 	 	91	 
	 
	 	 	 	 
	10.01 Appointment and Authorization of Administrative Agent
	 	 	91	 
	 
	10.02 Rights as a Lender
	 	 	91	 
	 
	10.03 Exculpatory Provisions
	 	 	91	 
	 
	10.04 Reliance by Administrative Agent
	 	 	92	 
	 
	10.05 Delegation of Duties
	 	 	92	 
	 
	10.06 Resignation of Agent
	 	 	92	 
	 
	10.07 Non-Reliance on Agent and Other Lenders
	 	 	93	 

iv

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	10.08 No Other Duties, Etc.
	 	 	94	 
	 
	10.09 Administrative Agent May File Proofs of Claim
	 	 	94	 
	 
	10.10 Collateral and Guaranty Matters
	 	 	94	 
	 
	10.11 Secured Cash Management Agreements and Secured Hedging Agreements
	 	 	95	 
	 
	 	 	 	 
	ARTICLE XI. MISCELLANEOUS
	 	 	95	 
	 
	 	 	 	 
	11.01 Amendments, Etc.
	 	 	95	 
	 
	11.02 Notices; Effectiveness; Electronic Communications
	 	 	96	 
	 
	11.03 No Waiver; Cumulative Remedies
	 	 	98	 
	 
	11.04 Expenses; Indemnity; Damage Waiver
	 	 	99	 
	 
	11.05 Payments Set Aside
	 	 	100	 
	 
	11.06 Successors and Assigns
	 	 	101	 
	 
	11.07 Treatment of Certain Information; Confidentiality
	 	 	105	 
	 
	11.08 Right of Setoff
	 	 	106	 
	 
	11.09 Interest Rate Limitation
	 	 	106	 
	 
	11.10 Counterparts; Integration; Effectiveness
	 	 	106	 
	 
	11.11 Survival of Representations and Warranties
	 	 	106	 
	 
	11.12 Severability
	 	 	107	 
	 
	11.13 Replacement of Lenders
	 	 	107	 
	 
	11.14
Governing Law; Jurisdiction; Etc.
	 	 	108	 
	 
	11.15 Waiver of Right to Trial by Jury
	 	 	108	 
	 
	11.16 USA PATRIOT Act Notice
	 	 	109	 
	 
	11.17 Intercreditor Agreement
	 	 	110	 
	 
	11.18 Waiver of Appraisal Rights
	 	 	111	 

v

 

SCHEDULES

	 	 	 
	1.01

	 	Existing Letters of Credit
	2.01

	 	Commitments and Applicable Percentages
	5A.03

	 	Collateral Information
	5A.04

	 	Appraisal Requirements
	6.06

	 	Litigation
	6.09

	 	Environmental Matters
	6.13

	 	Subsidiaries and Other Equity Investments
	7.18

	 	Post Closing Deliveries
	8.01

	 	Existing Liens
	8.03

	 	Existing Indebtedness
	11.02

	 	Administrative Agent’s Office, Certain Addresses for Notices

EXHIBITS

	 	 	 
	Form of
	A

	 	Committed Loan Notice
	B

	 	Swing Line Loan Notice
	C

	 	Note
	D

	 	Available Amount Certificate
	E

	 	Compliance Certificate
	F

	 	Assignment and Assumption
	G

	 	Guaranty
	H

	 	Eligible Property Compliance Certificate
	I

	 	Estoppel Certificate
	J

	 	Subordination, Nondisturbance and Attornment Agreement
	K

	 	Opinion of Special Counsel
	L

	 	Consent and Agreement Regarding Performance Under Ground Lease
	M

	 	Environmental Indemnity Agreement
	N

	 	Mortgage

vi

 

CREDIT AGREEMENT

     This CREDIT AGREEMENT (this “Agreement”) is entered into effective as of March 10,
2008, among COGDELL SPENCER LP, a Delaware limited partnership (“Borrower”), COGDELL
SPENCER INC., a Maryland corporation (“CSI”), each lender from time to time party hereto
(collectively, the “Lenders” and individually, a “Lender”), and BANK OF AMERICA,
N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

     Borrower has requested that Lenders provide a revolving credit facility, and Lenders are
willing to do so on the terms and conditions set forth herein. In consideration of the mutual
covenants and agreements herein contained, the parties hereto covenant and agree as follows:

ARTICLE I.

DEFINITIONS AND ACCOUNTING TERMS

     1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings
set forth below:

     “Acquisition” means the acquisition of (i) a controlling equity or other controlling
ownership interest in another Person (including the purchase of an option, warrant or convertible
or similar type security to acquire such a controlling interest at the time it becomes exercisable
by the holder thereof), whether by purchase of such equity or other ownership interest or upon the
exercise of an option or warrant for, or conversion of securities into, such equity or other
ownership interest, or (ii) assets of another Person which constitute all or substantially all of
the assets of such Person or of a line or lines of business conducted by such Person, but shall not
include the acquisition of real property irrespective of what percentage such real estate may
represent of the assets of the seller thereof.

     “Additions or Enhancements” means with respect to any Borrowing Base Property any
improvements, expansions, additions, alterations, betterments or appurtenances thereto.

     “Adjusted Property EBITDA” means with respect to each Property owned by the Borrower
or any Subsidiary (other than a Development Property or Unimproved Land) for any period (without
duplication): (a) net income (loss) of such Property for such period determined in accordance with
GAAP, exclusive of the following (but only to the extent included in determination of such net
income (loss)): (i) depreciation and amortization expense; (ii) total interest expense of such
Property, including capitalized interest not funded under a construction loan interest reserve
account, determined in accordance with GAAP for such period; (iii) income tax expense; and (iv)
extraordinary or non-recurring gains and losses; less (b) Capital Reserves.

     “Administrative Agent” or “Agent” means Bank of America in its capacity as
administrative agent under any of the Loan Documents, or any successor administrative agent.

     “Administrative Agent’s Office” means Agent’s address and, as appropriate, account as
set forth on Schedule 11.02, or such other address or account as Agent may from time to time notify
Borrower and Lenders.

 

 

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

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

     “Aggregate Commitments” means the Commitments of all Lenders.

     “Agreement” means this Credit Agreement.

     “Applicable Percentage” means with respect to any Lender at any time, the percentage
(carried out to the ninth decimal place) of the Aggregate Commitments represented by such Lender’s
Commitment at such time. If the commitment of each Lender to make Loans and the obligation of the
L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 9.02 or
if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be
determined based on the Applicable Percentage of such Lender most recently in effect, giving effect
to any subsequent assignments. The initial Applicable Percentage of each Lender is set forth
opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption
pursuant to which such Lender becomes a party hereto, as applicable.

     “Applicable Rate” means, from time to time, the following percentages per annum, based
upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by
Agent pursuant to Section 7.02(b):

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Applicable Rate
	 	 	 	 	Eurodollar Rate	 	 
	Pricing	 	Total Leverage	 	+	 	 
	Level	 	Ratio	 	Letters of Credit	 	Base Rate +
	1
	 	< 0.40:1	 	 	0.95	%	 	 	0.00	%
	2
	 	3 0.40:1 but < 0.50:1	 	 	1.15	%	 	 	0.00	%
	3
	 	3 0.50:1 but < 0.65:1	 	 	1.25	%	 	 	0.00	%
	4
	 	3 0.65:1	 	 	1.40	%	 	 	0.00	%

Any increase or decrease in the Applicable Rate resulting from a change in the Total Leverage Ratio
shall become effective as of the first Business Day of the month immediately following the date a
Compliance Certificate is delivered pursuant to Section 7.02(b); provided,
however, that if a Compliance Certificate is not delivered when due in accordance with such
Section, then one Pricing Level higher than the previously applicable Pricing Level (unless already
at Pricing Level 4) shall apply as of the first Business Day of the month following the date such
Compliance Certificate was required to have been delivered. The Applicable Rate in effect from the
Closing Date until delivery of the Compliance Certificate for the fiscal quarter ending March 31,
2008 shall be determined based upon Pricing Level 3.

2

 

     “Appraisal Requirements” means, collectively, those standards, policies, requirements
and provisions regarding valuation of Borrowing Base Properties set forth in Schedule
5A.04, as it may be amended from time to time.

     “Appraised Value” means, with respect to any Eligible Property, on an “as-is” basis,
the lesser of its (i) Leased Fee Value and (ii) Fee Simple Value, as determined by a Qualified
Appraiser; provided, however, if any entity (other than CSI or any Affiliate thereof) shall have a
contractual right to purchase any Pledged Property from Borrower or any Guarantor, the Appraised
Value of such Eligible Property shall be deemed to be the purchase price under such option, but
only to the extent such purchase price is less than the Appraised Value as determined under
clause (i) or (ii), as appropriate.

     “Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an
Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a
Lender.

     “Arranger” means Banc of America Securities LLC, in its capacity as sole lead arranger
and sole book manager.

     “Assignee Group” means two or more Eligible Assignees that are Affiliates of one
another or two or more Approved Funds managed by the same investment advisor.

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

     “Audited Financial Statements” means the audited consolidated balance sheet of CSI and
its Subsidiaries for the fiscal year ended December 31, 2006, and the related consolidated
statements of income or operations, shareholders’ equity and cash flows for such fiscal year,
including the notes thereto.

     “Availability Period” means the period from and including the Closing Date to the
earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate Commitments
pursuant to Section 2.06, and (c) the date of termination of the commitment of each Lender
to make Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to
Section 9.02.

     “Available Amount” means, as of the date of determination thereof, the lesser of:

	 	(a)	 	the Total Collateral Value;
	 
	 	(b)	 	the Synthetic DSCR Principal Amount; and
	 
	 	(c)	 	the Aggregate Commitments.

     The Available Amount shall be calculated on a quarterly basis, and, upon the request of the
Required Lenders, upon each borrowing under the Senior Credit Facility.

3

 

     “Available Amount Certificate” has the meaning specified in Section
4.01(a)(xvi).

     “Bank of America” means Bank of America, N.A. and its successors.

     “Base Rate” means for any day a fluctuating rate per annum equal to the higher of (a)
the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in effect for such day
as publicly announced from time to time by Bank of America as its “prime rate”. The “prime rate”
is a rate set by Bank of America based upon various factors including Bank of America’s costs and
desired return, general economic conditions and other factors, and is used as a reference point for
pricing some loans, which may be priced at, above, or below such announced rate. Any change in
such rate announced by Bank of America shall take effect at the opening of business on the day
specified in the public announcement of such change.

     “Base Rate Committed Loan” means a Committed Loan that is a Base Rate Loan.

     “Base Rate Loan” means a Loan that bears interest based on the Base Rate.

     “Benefited Parties” means, collectively, Agent and the Lenders and affiliates thereof
party to a Related Swap Contract with CSI or any Subsidiary thereof.

     “Borrower” has the meaning specified in the introductory paragraph hereto.

     “Borrower Materials” has the meaning specified in Section 7.02.

     “Borrowing” means a Committed Borrowing or a Swing Line Borrowing, as the context may
require.

     “Borrowing Base Property” means each Pledged Property identified as constituting a
part of the Borrowing Base on Schedule 5A.04, as it may be updated, amended or replaced
from time to time, in accordance with the terms hereof. Notwithstanding the granting of a lien of
a Mortgage with respect to any Pledged Property, such Pledged Property shall only be deemed to
constitute a Borrowing Base Property so long as such Pledged Property continues to meet the
requirements set forth in the definition of “Eligible Property”.

     “Borrowing Base” means, collectively, the Borrowing Base Properties.

     “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state
where Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate
Loan, means any such day on which dealings in Dollar deposits are conducted by and between banks in
the London interbank eurodollar market.

     “Capital Reserves” means, for any period and with respect to a Property, an amount
equal to (a) $0.40 per square foot of such Property times (b) a fraction, the numerator of
which is the number of days in such period and the denominator of which is 365. Any portion of a
Property leased under a ground lease to a third party that owns the improvements on such portion of
such Property shall not be included in the determination of Capital Reserves. If the term “Capital
Reserves” is used without reference to any specific Property, then the amount shall be

4

 

determined on an aggregate basis with respect to all Properties of CSI and its Subsidiaries
and the appropriate pro rata share of all square footage in Properties owned by Unconsolidated
Affiliates.

     “Capitalized Lease Obligations” means obligations under a lease that are required to
be capitalized for financial reporting purposes in accordance with GAAP. The amount of a
Capitalized Lease Obligation is the capitalized amount of such obligation as would be required to
be reflected on a balance sheet of the applicable Person prepared in accordance with GAAP as of the
applicable date.

     “Cash Collateralize” has the meaning specified in Section 2.03(g).

     “Cash Management Agreement” means any agreement to provide cash management services,
including treasury, depository, overdraft, credit or debit card, electronic funds transfer and
other cash management arrangements.

     “Cash Management Bank” means any Person that, (a) at the time it enters into a Cash
Management Agreement, is a Lender or an Affiliate of a Lender, or (b) at the time it (or its
Affiliate) becomes a Lender, is a party to a Cash Management Agreement in each case in its capacity
as a party to such Cash Management Agreement.

     “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change
in any law, rule, regulation or treaty or in the administration, interpretation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or
directive (whether or not having the force of law) by any Governmental Authority.

     “Change of Control” means, an event or series of events by which:

     (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its
subsidiaries, any person or entity acting in its capacity as trustee, agent or other fiduciary or
administrator of any such plan, and any person Controlled by the Chairman of the Board of Directors
or the Chief Executive Officer of CSI) becomes the “beneficial owner” (as defined in Rules 13d-3
and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed
to have “beneficial ownership” of all securities that such person or group has the right to
acquire, whether such right is exercisable immediately or only after the passage of time (such
right, an “option right”)), directly or indirectly, of 33% or more of the equity securities
of CSI entitled to vote for members of the board of directors or equivalent governing body CSI on a
fully-diluted basis (and taking into account all such securities that such person or group has the
right to acquire pursuant to any option right);

     (b) during any period of 12 consecutive months, a majority of the members of the board of
directors or other equivalent governing body of CSI cease to be composed of individuals (i) who
were members of that board or equivalent governing body on the first day of such period, (ii) whose
election or nomination to that board or equivalent governing body was approved by individuals
referred to in clause (i) above constituting at the time of such election or nomination at
least a majority of that board or equivalent governing body or (iii) whose election

5

 

or nomination to that board or other equivalent governing body was approved by individuals
referred to in clauses (i) and (ii) above constituting at the time of such election
or nomination at least a majority of that board or equivalent governing body (excluding, in the
case of both clause (ii) and clause (iii), any individual whose initial nomination
for, or assumption of office as, a member of that board or equivalent governing body occurs as a
result of an actual or threatened solicitation of proxies or consents for the election or removal
of one or more directors by any person or group other than a solicitation for the election of one
or more directors by or on behalf of the board of directors);

     (c) any Person other than CSI or CS Business Trust I (or any successor thereto that is
wholly-owned by CSI and is a Guarantor) shall become the general partner of Borrower; or

     (d) any Person other than CSI shall be the beneficial owner, directly or indirectly, of any
interests or be the beneficiary of CS Business Trust I or CS Business Trust II.

     “Closing Date” means the first date all the conditions precedent in Section
4.01 are satisfied or waived in accordance with Section 11.01.

     “Code” means the Internal Revenue Code of 1986.

     “Commitment” means, as to each Lender, its obligation to (a) make Committed Loans to
Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c)
purchase participations in Swing Line Loans, in an aggregate principal amount at any one time
outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01
or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as
applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

     “Collateral” means, collectively, all property of CSI, the Borrower or any Subsidiary
or any other Person in which the Agent or any Lender is granted a Lien as security for all or any
portion of the Obligations under any of the Security Instruments.

     “Committed Borrowing” means a borrowing consisting of simultaneous Committed Loans of
the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by
each of the Lenders pursuant to Section 2.01.

     “Committed Loan” has the meaning specified in Section 2.01.

     “Committed Loan Notice” means a notice of (a) a Committed Borrowing, (b) a conversion
of Committed Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans,
pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of
Exhibit A.

     “Compliance Certificate” means a certificate substantially Exhibit E.

     “Consolidated Adjusted EBITDA” means for any period for CSI and its Subsidiaries on a
consolidated basis (without duplication): (a) net income (loss) of CSI and its Subsidiaries for
such period determined on a consolidated basis in accordance with GAAP, exclusive of the

6

 

following (but only to the extent included in determination of such net income (loss)): (i)
depreciation and amortization expense; (ii) Consolidated Interest Expense; (iii) income tax
expense; (iv) extraordinary or non-recurring gains and losses; (v) investor management fees paid to
private equity majority shareholders (Lubar & Co. and Baird Capital Partners) prior to the MEA
Acquisition; (vi) salary and benefits paid to prior owner, Timothy Erdman prior to the MEA
Acquisition; (vii) expenses related to the grant of stock options prior to the MEA Acquisition;
(viii) expenses related to insurance settlement payments associated with the Cleveland Clinic that
were made prior to the MEA Acquisition; (ix) expenses related to the planning and design of
Marshall Erdman & Associates, Inc.’s corporate headquarters (One Erdman Place) incurred prior to
the MEA Acquisition; and (x) transaction fees, legal fees, bonuses to management of the MEA
Restricted Group and other expenses incurred as a result of the MEA Acquisition and paid in
accordance with the Merger Agreement; plus (b) CSI’s pro rata share of net income (loss) of
Unconsolidated Affiliates for such period determined on a consolidated basis, in accordance with
GAAP, exclusive of the following (but only to the extent included in determination of such net
income (loss)): (A) depreciation and amortization expense; (B) interest expense (without
duplication of any amounts excluded as Consolidated Interest Expense under clause (a)(ii)
above); (C) income tax expense; and (D) extraordinary or non-recurring gains and losses of
Unconsolidated Affiliates; less (c) Capital Reserves. “Consolidated Adjusted EBITDA” shall
be adjusted to remove any impact from straight line rent leveling adjustments required under GAAP
and amortization of intangibles pursuant to Statement No. 141 of the Financial Accounting Standards
Board (FAS 141).

     “Consolidated Fixed Charges” means, for any period, the sum of (a) Consolidated
Interest Expense for such period, (b) all regularly scheduled principal payments paid or payable
with respect to Consolidated Total Indebtedness of CSI and its Subsidiaries during such period
(other than any balloon, bullet or similar principal payment that repays such Indebtedness in
full), and (c) all Preferred Dividends paid during such period, including the pro rata share of the
Preferred Dividends paid by Unconsolidated Affiliates.

     “Consolidated Interest Expense” means, for any period for CSI and its Subsidiaries,
without duplication, (a) total interest expense of CSI and its Subsidiaries, including capitalized
interest not funded under a construction loan interest reserve account, determined on a
consolidated basis in accordance with GAAP for such period, plus (b) the pro rata share of
interest expense (calculated in the manner set forth in clause (a)) of Unconsolidated
Affiliates for such period.

     “Consolidated Real Estate Asset Value” means the sum of all of the following of the
Borrower and its Subsidiaries that own a Property or Properties, on a consolidated basis,
determined in accordance with GAAP applied on a consistent basis, without duplication: (a) cash,
cash equivalents and the value of marketable securities, plus (b) with respect to each Property
owned by the Borrower or any Subsidiary (other than a Development Property or Unimproved Land), the
quotient of (i) Adjusted Property EBITDA attributable to such Property for the fiscal quarter most
recently ended times 4, divided by (ii) 0.080, plus (c) the GAAP book value of Properties acquired
during the most recent four fiscal quarters, plus (d) Construction-in-Process until the earlier of
(i) the one year anniversary date of project completion and (ii) the fiscal quarter after the
Property achieves an Occupancy Rate of at least 80%, plus (e) the GAAP book value of Unimproved
Land, Mortgage Receivables and other promissory notes. For

7

 

purposes of this definition, the Borrower’s pro rata share of assets held by Unconsolidated
Affiliates (excluding assets of the type described in the immediately preceding clause (a))
will be included in Consolidated Real Estate Asset Value calculations consistent with the above
described treatment for wholly owned assets. For purposes of determining Consolidated Real Estate
Asset Value, Net Operating Income from Properties acquired or disposed of by the Borrower or any
Subsidiary during the immediately preceding four fiscal quarters shall be excluded.

     “Consolidated Real Estate Indebtedness” means all Indebtedness of CSI and its
Subsidiaries that own a Property or Properties, determined on a consolidated basis and including
(without duplication) the pro rata share of the Indebtedness of CSI’s Unconsolidated Affiliates.

     “Consolidated Recourse Indebtedness” means, at any time, the aggregate outstanding
principal amount of all Recourse Indebtedness of CSI and its Subsidiaries at such time on a
consolidated basis.

     “Consolidated Tangible Net Worth” means, as of a given date with respect to CSI and
its Subsidiaries, (a) the stockholders’ equity of CSI and its Subsidiaries determined on a
consolidated basis, plus (b) (i) accumulated depreciation and amortization, and (ii) (to
the extent deducted in determining stockholders’ equity) minority interests in operating
partnership, determined in accordance with GAAP, minus (c) the following (to the extent
reflected in determining stockholders’ equity of CSI and its Subsidiaries): (i) the amount of any
write-up in the book value of any assets contained on CSI’s consolidated balance sheet resulting
from revaluation thereof or any write-up in excess of the cost of such assets acquired, and (ii)
all amounts appearing on the assets side of CSI’s consolidated balance sheet for assets which would
be classified as intangible assets under GAAP, all determined on a consolidated basis.

     “Consolidated Total Asset Value” means the sum of Consolidated Real Estate Asset Value
plus all of the following of the MEA Restricted Group on a consolidated basis determined in
accordance with GAAP applied on a consistent basis, without duplication, (a) from the Closing Date
through and including December 31, 2008, the GAAP book value of such Subsidiary’s assets (it being
understood, for the purpose of clarity, that any assets of such Subsidiary which would be
eliminated under GAAP principals of consolidation will not be included in such calculation)); (b)
from January 1, 2009 and continuing thereafter, the lesser of (i) the GAAP book value of such
Subsidiary’s assets and (ii) the portion of Consolidated Adjusted EBITDA attributable to such
Subsidiary for the four consecutive fiscal quarters most recently ended times a multiple of 10.0
times (it being understood, for the purpose of clarity, that any assets of or Consolidated Adjusted
EBITDA attributable to such Subsidiary which would be eliminated under GAAP principals of
consolidation will not be included in such calculation).

     “Consolidated Total Indebtedness” means all Indebtedness of CSI and all of its
Subsidiaries determined on a consolidated basis and shall include (without duplication) the pro
rata share of the Indebtedness of CSI’s Unconsolidated Affiliates.

     “Construction-in-Process” means cash expenditures for land and improvements (including
indirect costs internally allocated and development costs) determined in accordance

8

 

with GAAP on all Properties that are under development or are scheduled to commence
development within 12 months.

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

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

     “Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit
Extension.

     “CS Business Trust I” means CS Business Trust I, a Maryland business trust, and the
general partner of the Borrower.

     “CS Business Trust II” means CS Business Trust II, a Maryland business trust, and a
limited partner of the Borrower.

     “CSI” has the meaning specified in the introductory paragraph hereto.

     “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other
liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,
rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the
United States or other applicable jurisdictions from time to time in effect and affecting the
rights of creditors generally.

     “Default” means any event or condition that constitutes an Event of Default or that,
with the giving of any notice, the passage of time, or both, would be an Event of Default.

     “Default Rate” means (a) when used with respect to Obligations other than L/C Fees, an
interest rate equal to the higher of (I) the rate of interest at the relevant time applicable to
Indebtedness under the GAC Term Loan Facility or (II) (i) the Base Rate plus (ii) the
Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum;
provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate
shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise
applicable to such Loan plus 2% per annum, and (b) when used with respect to L/C Fees, a
rate equal to the higher of (I) the rate of interest at the relevant time applicable to
Indebtedness under the GAC Term Loan Facility or (II) Applicable Rate plus 2% per annum.

     “Defaulting Lender” means any Lender that (a) has failed to fund any portion of the
Committed Loans, participations in L/C Obligations or participations in Swing Line Loans required
to be funded by it hereunder within one Business Day of the date required to be funded by it
hereunder unless such failure has been cured, (b) has otherwise failed to pay over to 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 unless such failure has

9

 

been cured, or (c) has been deemed insolvent or become the subject of a bankruptcy or
insolvency proceeding.

     “Development Property” means a Property, which was formerly a Construction-in-Process,
that has not yet achieved an Occupancy Rate of at least 80%, or on which the improvements (other
than tenant improvements on unoccupied space) related to the development have not been completed.
A Development Property on which all improvements (other than tenant improvements on unoccupied
space) related to the development of such Property have been completed for at least 12 months shall
cease to constitute a Development Property notwithstanding the fact that such Property has not
achieved an Occupancy Rate of at least 80%.

     “Disposition” or “Dispose” means the sale, transfer, license, lease or other
disposition (including any sale and leaseback transaction) of any property by any Person, including
any sale, assignment, transfer or other disposal, with or without recourse, of any notes or
accounts receivable or any rights and claims associated therewith.

     “Dollar” and “$” mean lawful money of the United States.

     “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any
political subdivision of the United States.

     “Eligible Assignee” means any Person that meets the requirements to be an assignee
under Section 11.06(b)(iii), (v) and (vi) (subject to such consents, if
any, as may be required under Section 11.06(b)(iii)).

     “Eligible Property” means a Property which satisfies all of the following
requirements, as evidenced in an Eligible Property Compliance Certificate:

     (a) such Property is fully developed as (i) a medical office property, (ii) an ambulatory
surgery property, or (iii) other property customarily constituting an asset of a REIT specializing
in medical office properties;

     (b) such Property is owned by a Guarantor, or leased by a Guarantor under a Ground Lease
reasonably acceptable to the Agent as to which (i) Lease Party Documents have been delivered to the
Agent and (ii) the base rental payments to lessors or their assignees by such Persons under such
Ground Lease are not delinquent for more than 60 days; provided that, such
Guarantor is neither a borrower nor a guarantor under the GAC Term Loan Facility and no GAC Lender
has any lien or security interest in any property or assets of, or equity issued by, such
Guarantor;

     (c) such Property, or any interest of the Borrower or any Guarantor therein, is free of all
Liens except those permitted by Section 8.01;

     (d) if such Property is owned or leased by a Guarantor, the Borrower directly, or indirectly
through a Subsidiary, has the right to take the following actions without the need to obtain the
consent of any Person, other than as may be required under the Ground Lessor Agreement applicable
to such Property; (x) to sell, transfer or otherwise dispose of such Property

10

 

and (y) to create a lien on such Property as security for Indebtedness of the Borrower or such
Guarantor, as applicable;

     (e) such Property is free of all structural defects or major architectural deficiencies, title
defects, environmental conditions or other adverse matters except for defects, deficiencies,
conditions or other matters individually or collectively which are not material to the profitable
operation of such Property; and

     (f) such Property is in material compliance with all Environmental Laws as evidenced by a
Phase I environmental assessment (and, if required or recommended by the results of the Phase I
environmental assessment, a Phase II environmental assessment) in form and substance reasonably
satisfactory to the Agent, and dated not earlier than six months prior to the date of the Eligible
Property Compliance Certificate for such Property; or

     (g) if such Property does not meet the above criteria, such Property is otherwise acceptable
to the Required Lenders in their sole and absolute discretion.

     “Eligible Property Compliance Certificate” means a certificate of the Borrower, dated
the date of submission to the Agent of the items required thereby, evidencing the compliance by a
particular Eligible Property with items (a) through (f) of the definition of
“Eligible Property”, or, with respect to an Eligible Property qualifying as such under item
(g) of the definition of “Eligible Property,” evidencing compliance with those items required
by the Required Lenders, in the form of Exhibit H.

     “Environmental Indemnity Agreement” or “Environmental Indemnity Agreements”
means, individually and collectively, as the context requires, each of the Environmental Indemnity
Agreements executed by the Borrower, CSI, or any other Guarantor with respect to the Pledged
Properties, substantially in the form of Exhibit M.

     “Environmental Laws” means any and all Federal, state, local, and foreign statutes,
laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants,
franchises, licenses, agreements or governmental restrictions relating to pollution and the
protection of the environment or the release of any materials into the environment, including those
related to hazardous substances or wastes, air emissions and discharges to waste or public systems.

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

     “Equity Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or
other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership

11

 

or profit interests in) such Person, all of the securities convertible into or exchangeable
for shares of capital stock of (or other ownership or profit interests in) such Person or warrants,
rights or options for the purchase or acquisition from such Person of such shares (or such other
interests), and all of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting, and whether or not
such shares, warrants, options, rights or other interests are outstanding on any date of
determination.

     “Equity Issuance” means any issuance by CSI or any Subsidiary of any Equity Interest
in such Person and shall in any event include (x) the issuance of any Equity Interest upon the
conversion or exchange of any security constituting Indebtedness that is convertible or
exchangeable, or is being converted or exchanged, for Equity Interests or (y) any additional
capital contribution, by way of capital call or otherwise, in respect of any equity interest
previously issued.

     “ERISA” means the Employee Retirement Income Security Act of 1974.

     “ERISA Affiliate” means any trade or business (whether or not incorporated) under
common control with Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections
414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code).

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA
during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of
ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of
ERISA; (c) a complete or partial withdrawal by Borrower or any ERISA Affiliate from a Multiemployer
Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of
intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or 4041A
of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or
Multiemployer Plan; (e) an event or condition which constitutes grounds under Section 4042 of ERISA
for the termination of, or the appointment of a trustee to administer, any Pension Plan or
Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA, other than for
PBGC premiums due but not delinquent under Section 4007 of ERISA, upon Borrower or any ERISA
Affiliate.

     “Eurodollar Base Rate” has the meaning specified in the definition of Eurodollar Rate.

     “Eurodollar Rate” means for any Interest Period with respect to a Eurodollar Rate
Loan, a rate per annum determined by Agent pursuant to the following formula:

	 	 	 	 	 
	Eurodollar Rate

	 	=
	 	Eurodollar Base Rate
	 

	 	 	 	 
	 

	 	 	 	1.00 – Eurodollar Reserve Percentage

     Where,

     “Eurodollar Base Rate” means, for such Interest Period the rate per annum equal
to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters
(or other commercially available source providing quotations of BBA LIBOR as

12

 

designated by Agent from time to time) at approximately 11:00 a.m., London time, two
Business Days prior to the commencement of such Interest Period, for Dollar deposits (for
delivery on the first day of such Interest Period) with a term equivalent to such Interest
Period. If such rate is not available at such time for any reason, then the “Eurodollar
Base Rate” for such Interest Period shall be the rate per annum determined by Agent to
be the rate at which deposits in Dollars for delivery on the first day of such Interest
Period in same day funds in the approximate amount of the Eurodollar Rate Loan being made,
continued or converted by Bank of America and with a term equivalent to such Interest Period
would be offered by Bank of America’s London Branch to major banks in the London interbank
eurodollar market at their request at approximately 11:00 a.m. (London time) two Business
Days prior to the commencement of such Interest Period.

     “Eurodollar Reserve Percentage” means, for any day during any Interest Period,
the reserve percentage (expressed as a decimal) in effect on such day, whether or not
applicable to any Lender, under regulations issued from time to time by the Board of
Governors of the Federal Reserve System of the United States for determining the maximum
reserve requirement (including any emergency, supplemental or other marginal reserve
requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency
liabilities”). The Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be
adjusted automatically as of the effective date of any change in the Eurodollar Reserve
Percentage.

     “Eurodollar Rate Loan” means a Committed Loan that bears interest at a rate based on
the Eurodollar Rate.

     “Event of Default” has the meaning specified in Section 9.01.

     “Excluded Subsidiary” means any Subsidiary (a) holding title to assets which are or
are to become collateral for any secured Indebtedness of such Subsidiary pursuant to Section
8.03(g); (b) which is prohibited from guarantying the Indebtedness of any other Person pursuant
to (i) any document, instrument or agreement evidencing such secured Indebtedness, (ii) a provision
of such Subsidiary’s Organization Documents, which provision was included in such Subsidiary’s
Organization Documents as a condition to the extension of such secured Indebtedness; (c) that is
not wholly-owned, directly or indirectly, by CSI; (d) that at formation was designated by CSI as a
future joint venture; or (e) constituting a part of the MEA Restricted Group; provided
however, any Person (other than a member of the MEA Restricted Group) who is or becomes
obligated as a borrower or a guarantor under the GAC Term Loan Facility shall not be an Excluded
Subsidiary.

     “Excluded Taxes” means, with respect to Agent, any Lender, the L/C Issuer or any other
recipient of any payment to be made by or on account of any obligation of Borrower hereunder, (a)
taxes imposed on or measured by its overall net income (however denominated), and franchise taxes
imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision
thereof) under the laws of which such recipient is organized or in which its principal office is
located or, in the case of any Lender, in which its applicable Lending Office is located, (b) any
branch profits taxes imposed by the United States or any similar tax imposed by any

13

 

other jurisdiction in which Borrower is located and (c) in the case of a Foreign Lender (other
than an assignee pursuant to a request by Borrower under Section 11.13), any withholding
tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender
becomes a party hereto (or designates a new Lending Office) or is attributable to such Foreign
Lender’s failure or inability (other than as a result of a Change in Law) to comply with
Section 3.01(e), except to the extent that such Foreign Lender (or its assignor, if any)
was entitled, at the time of designation of a new Lending Office (or assignment), to receive
additional amounts from Borrower with respect to such withholding tax pursuant to Section
3.01(a).

     “Existing Credit Agreement” means that certain Credit Agreement dated as of November
1, 2005 among the Borrower, the Guarantors and Bank of America, N.A., as administrative agent, as
amended to the date hereof.

     “Existing Letters of Credit” means those letters of credit identified on Schedule
1.01.

     “Facility Guaranty” means, collectively, the guaranty by CSI of Borrower’s Obligations
as set forth in Article V and the Guaranty, as each of the same may be amended, restated, modified
or supplemented from time to time.

     “Facility Termination Date” means the date as of which all of the following shall have
occurred: (a) Borrower shall have permanently terminated the credit facilities under the Loan
Documents by final payment in full of all Outstanding Amounts, together with all accrued and unpaid
interest and fees thereon (other than (i) the undrawn portion of Letters of Credit and (ii) all L/C
Fees relating thereto accruing after such date (which fees shall be payable solely for the account
of the L/C Issuer and shall be computed (based on interest rates and the Applicable Rate then in
effect) on such undrawn amounts to the respective expiry dates of the Letters of Credit), which
Obligations shall have been fully Cash Collateralized or as to which other arrangements
satisfactory to Agent and the L/C Issuer shall have been made); (b) all Commitments shall have
terminated or expired; (c) the obligations and liabilities of Borrower and each other Loan Party
under all Secured Cash Management Agreements and Secured Hedge Agreements shall have been fully,
finally and irrevocably paid and satisfied in full and the Secured Cash Management Agreements and
Secured Hedge Agreements shall have expired or been terminated, or other arrangements satisfactory
to the applicable Cash Management Bank or Hedge Bank shall have been made with respect thereto; and
(d) Borrower and each other Loan Party shall have fully, finally and irrevocably paid and satisfied
in full all of their respective obligations and liabilities arising under the Loan Documents not
covered in the foregoing clauses (a) through (c) (except for future obligations
consisting of continuing indemnities and other contingent Obligations of Borrower or any Loan Party
that may be owing to any of its Related Parties or any Lender pursuant to the Loan Documents and
expressly survive termination of this Agreement or any other Loan Document).

     “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted
average of the rates on overnight Federal funds transactions with members of the Federal Reserve
System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of
New York on the Business Day next succeeding such day; provided that (a) if such day is not
a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the
next preceding Business Day as so published on the next succeeding Business

14

 

Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal
Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole
multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined
by Agent.

     “Fee Letter” means the letter agreement, dated November 16, 2007, among Borrower,
Agent and Arranger with respect to the credit facilities contemplated by this Agreement.

     “Fee Simple Value” means the appraised value of a property for which the owner has
absolute ownership, unencumbered by any other interest or estate subject only to Permitted
Encumbrances, and the limitations imposed by the governmental powers of taxation, eminent domain,
police power and escheat.

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

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

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

     “Funds From Operations” means, with respect to CSI and its Subsidiaries and for a
given period, (a) net income (loss) of CSI and its Subsidiaries determined on a consolidated basis
for such period minus (or plus) (b) gains (or losses) from debt restructuring and
sales of property determined on a consolidated basis during such period plus (c)
depreciation with respect to CSI’s and its Subsidiaries’ real estate assets and amortization (other
than amortization of deferred financing costs) of CSI and its Subsidiaries determined on a
consolidated basis for such period, all after adjustment for unconsolidated partnerships and joint
ventures. Adjustments for unconsolidated entities will be calculated to reflect funds from
operations on the same basis.

     “GAAP” means generally accepted accounting principles in the United States set forth
in the opinions and pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date
of determination, consistently applied.

     “GAC” means Goldenboy Acquisition Corporation, a wholly owned, indirect taxable REIT
subsidiary of CSI, which is the borrower under the GAC Term Loan Facility.

     “GAC Lender” means a lender party to the GAC Term Loan Credit Agreement from time to
time.

15

 

     “GAC Term Loan Credit Agreement” means that certain Senior Secured Term Loan Agreement
of even date herewith among GAC, as borrower, Cogdell Spencer, Inc., KeyBank National Association,
as Administrative Agent, and the GAC Lenders.

     “GAC Term Loan Facility” means that certain $100,000,000 term loan facility provided
under the GAC Term Loan Credit Agreement.

     “Governmental Authority” means the government of the United States or any other
nation, or of any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government (including any supra-national bodies such as the European Union or the European Central
Bank).

     “Grantor” shall have the meaning specified in Section 5A.03.

     “Grantor Authority Documents” means with respect to the applicable Grantor associated
with an Eligible Property (to the extent not previously delivered):

     (a) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of such Grantor as the Agent may require
evidencing the identity, authority and capacity of each Responsible Officer thereof
authorized to act as a Responsible Officer in connection with the Loan Documents to which
such Grantor is a party;

     (b) such documents and certifications as the Agent may reasonably require (x) to
evidence that such Grantor is duly organized or formed, and (y) to evidence that such
Grantor is validly existing, in good standing and qualified to engage in business in each
jurisdiction where its ownership, lease or operation of properties or the conduct of its
business requires such qualification, except to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect;

     (c) a certificate of a Responsible Officer of such Grantor either (A) attaching copies
of all consents, licenses and approvals required in connection with the execution, delivery
and performance by such Grantor and the validity against such Grantor of the Loan Documents
to which it is a party, and such consents, licenses and approvals shall be in full force and
effect, or (B) stating that no such consents, licenses or approvals are so required.

     “Ground Lease” means a ground lease or air rights lease containing the following terms
and conditions: (a) a remaining term (inclusive of any unexercised extension options exercisable at
Borrower’s sole discretion) of 40 years or more from the Closing Date; (b) the right of the lessee
to mortgage and encumber its interest in the leased property without the consent of the lessor; (c)
the obligation of the lessor to give the holder of any mortgage lien on such leased property
written notice of any defaults on the part of the lessee and agreement of such lessor that such
lease will not be terminated until such holder has had a reasonable opportunity to cure or complete
foreclosures, and fails to do so; (d) reasonable transferability of the lessee’s interest under
such lease, including ability to sublease; and (e) such other rights customarily required by

16

 

mortgagees making a loan secured by the interest of the holder of the leasehold estate demised
pursuant to a ground lease. Notwithstanding the foregoing, the leases of the Properties known as
East Jefferson Medical Specialty Building and Gaston MOB shall constitute Ground Leases so long as
such leases satisfy all of the foregoing requirements other than clause (a) above.

     “Ground Lessor Agreement” means, with respect to any Pledged Property, a Consent and
Agreement Regarding Performance Under Ground Lease executed by the owner and the ground lessee of
such Pledged Property, in substantially the form attached hereto as Exhibit L.

     “Guarantee” means, as to any Person, any (a) any obligation, contingent or otherwise,
of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other
obligation payable or performable by another Person (the “primary obligor”) in any manner,
whether directly or indirectly, and including any obligation of such Person, direct or indirect,
(i) to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for
the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the
payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital,
equity capital or any other financial statement condition or liquidity or level of income or cash
flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in
respect of such Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any
assets of such Person securing any Indebtedness or other obligation of any other Person, whether or
not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or
otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any
Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related
primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not
stated or determinable, the maximum reasonably anticipated liability in respect thereof as
determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a
corresponding meaning.

     “Guarantor’s Obligations” has the meaning specified in Section 5.01.

     “Guarantors” means, collectively or individually as the context may indicate, CSI, CS
Business Trust I, CS Business Trust II, and the Subsidiary Guarantors.

     “Guaranty” means the Subsidiary and Business Trust Guaranty made by the Subsidiary
Guarantors and CS Business Trust I and CS Business Trust II in favor of Agent for the benefit of
the Lenders, substantially in the form of Exhibit G.

     “Guaranty Joinder Agreement” means each Guaranty Joinder Agreement, substantially in
the form thereof attached to the Guaranty, executed and delivered by a Guarantor to Agent pursuant
to Section 7.13, Section 10.10 or otherwise.

     “Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas,

17

 

infectious or medical wastes and all other substances or wastes of any nature regulated
pursuant to any Environmental Law.

     “Hedge Bank” means any Person that, (a) at the time it enters into a Secured Hedge
Agreement, is a Lender or an Affiliate of a Lender, or (b) at the time it (or its Affiliate)
becomes a Lender, is a party to a Swap Contract permitted under Article VIII, in each case
in its capacity as a party to such Secured Hedge Agreement.

     “Indebtedness” means, with respect to a Person, at the time of computation thereof,
all of the following (without duplication): (a) all obligations of such Person in respect of money
borrowed (other than trade debt incurred in the ordinary course of business which is not more than
60 days past due); (b) all obligations of such Person, whether or not for money borrowed (i)
represented by notes payable, or drafts accepted, in each case representing extensions of credit,
(ii) evidenced by bonds, debentures, notes or similar instruments, or (iii) constituting purchase
money indebtedness, conditional sales contracts, title retention debt instruments or other similar
instruments, upon which interest charges are customarily paid or that are issued or assumed as full
or partial payment for property or services rendered; (c) Capitalized Lease Obligations of such
Person; (d) all reimbursement obligations of such Person under any letters of credit or acceptances
(whether or not the same have been presented for payment); (e) all Off-Balance Sheet Obligations of
such Person; (f) all obligations of such Person to purchase, redeem, retire, defease or otherwise
make any payment in respect of any Mandatorily Redeemable Stock issued by such Person or any other
Person, valued at the greater of its voluntary or involuntary liquidation preference plus accrued
and unpaid dividends; (g) all obligations of such Person in respect of any purchase obligation,
repurchase obligation, takeout commitment or forward equity commitment, in each case evidenced by a
binding agreement (excluding any such obligation to the extent the obligation can be satisfied by
the issuance of Equity Interests (other than Mandatorily Redeemable Stock) at the option of such
Person); (h) net obligations under any Swap Contract not entered into as a hedge against existing
Indebtedness, in an amount equal to the Swap Termination Value thereof; (i) all Indebtedness of
other Persons which such Person has Guaranteed or is otherwise recourse to such Person (except for
guaranties of customary exceptions for fraud, misapplication of funds, environmental indemnities
and other similar exceptions to recourse liability (but not exceptions relating to bankruptcy,
insolvency, receivership or other similar events)); (j) all Indebtedness of another Person secured
by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to
be secured by) any lien on property or assets owned by such Person, even though such Person has not
assumed or become liable for the payment of such Indebtedness or other payment obligation; and (k)
such Person’s pro rata share of the Indebtedness of any Unconsolidated Affiliate of such Person.
Indebtedness of any Person shall include Indebtedness of any partnership or joint venture in which
such Person is a general partner or joint venturer to the extent of such Person’s pro rata share of
the ownership of such partnership or joint venture (except if such Indebtedness, or portion
thereof, is recourse to such Person, in which case the greater of such Person’s pro rata portion of
such Indebtedness or the amount of the recourse portion of the Indebtedness, shall be included as
Indebtedness of such Person). All Loans and L/C Obligations shall constitute Indebtedness of
Borrower.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

18

 

     “Indemnitees” has the meaning specified in Section 11.04(b).

     “Information” has the meaning specified in Section 11.07.

     “Intercreditor Agreement” has the meaning specified in Section 4.01(a)(xx).

     “Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the
last day of each Interest Period applicable to such Loan, on any day a prepayment under Section
2.05 is made and the Maturity Date; provided, however, that if any Interest
Period for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three
months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as
to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each March, June,
September and December, on any day a prepayment under Section 2.05 is made and the Maturity
Date.

     “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the
date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan
and ending on the date one, two, three or six months thereafter, as selected by Borrower in its
Committed Loan Notice; provided that:

     (a) any Interest Period that would otherwise end on a day that is not a Business Day
shall be extended to the next succeeding Business Day unless such Business Day falls in
another calendar month, in which case such Interest Period shall end on the next preceding
Business Day;

     (b) 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 the calendar month at the end
of such Interest Period; and

     (c) no Interest Period shall extend beyond the Maturity Date.

     “Investment” means, as to any Person, any direct or indirect acquisition or investment
by such Person, whether by means of (a) the purchase or other acquisition of capital stock or other
securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or
assumption of debt of, or purchase or other acquisition of any other debt or equity participation
or interest in, another Person, including any partnership or joint venture interest in such other
Person and any arrangement pursuant to which the investor Guarantees Indebtedness of such other
Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions)
of assets of another Person that constitute a business unit. Any banking commitment to make an
Investment in any other Person, as well as any option of another Person to require an Investment in
such Person, shall constitute an Investment. For purposes of covenant compliance, the amount of
any Investment shall be the amount actually invested, without adjustment for subsequent increases
or decreases in the value of such Investment.

     “IRS” means the United States Internal Revenue Service.

19

 

     “ISP” means, with respect to any Letter of Credit, the “International Standby
Practices 1998” published by the Institute of International Banking Law & Practice (or such later
version thereof as may be in effect at the time of issuance).

     “Issuer Documents” means with respect to any Letter of Credit, the L/C Application,
and any other document, agreement and instrument entered into by the L/C Issuer and Borrower (or
any Subsidiary) or in favor of the L/C Issuer and relating to any such Letter of Credit.

     “Laws” means, collectively, all international, foreign, United States Federal, state
and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative
or judicial precedents or authorities, including the interpretation or administration thereof by
any Governmental Authority charged with the enforcement, interpretation or administration thereof,
and all applicable administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case whether or not having the
force of law.

     “L/C Advance” means, with respect to each Lender, such Lender’s funding of its
participation in any L/C Borrowing in accordance with its Applicable Percentage.

     “L/C Application” means an application and agreement for the issuance or amendment of
a Letter of Credit in the form from time to time in use by the L/C Issuer.

     “L/C Borrowing” means an extension of credit resulting from a drawing under any Letter
of Credit which has not been reimbursed on the date when made or refinanced as a Committed
Borrowing.

     “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance
thereof or extension of the expiry date thereof, or the increase of the amount thereof.

     “L/C Expiration Date” means the day that is thirty days prior to the Maturity Date
then in effect (or, if such day is not a Business Day, the next preceding Business Day).

     “L/C Fee” has the meaning specified in Section 2.03(i).

     “L/C Issuer” means Bank of America in its capacity as issuer of Letters of Credit
hereunder, or any successor issuer of Letters of Credit hereunder.

     “L/C Obligations” means, as at any date of determination, the aggregate amount
available to be drawn under all outstanding Letters of Credit plus the aggregate of all
Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in
accordance with Section 1.06. For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn
thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be
deemed to be “outstanding” in the amount so remaining available to be drawn.

20

 

     “L/C Sublimit” means an amount equal to the lesser of (a) $25,000,000 and (b) the
Available Amount. The L/C Sublimit is part of, and not in addition to, the Aggregate Commitments.

     “Lease Party Documents” means, with respect to any Eligible Property, an Estoppel
Certificate substantially in the form attached hereto as Exhibit I, executed by such
tenants of the Eligible Property as Agent shall reasonably require, and a Subordination,
Non-Disturbance and Attornment Agreement substantially in the form attached hereto as Exhibit
J, executed by such tenants of the Eligible Property as Agent shall reasonably require, and the
owner or ground lessee (as applicable) of the Eligible Property.

     “Leased Fee Value” means the appraised value to the lessee thereof of a property for
which the owner has conveyed by lease the rights of use and occupancy of such property to such
lessee.

     “Lender” has the meaning specified in the introductory paragraph hereto and, as the
context requires, includes Swing Line Lender.

     “Lending Office” means, as to any Lender, the office or offices of such Lender
described as such in such Lender’s Administrative Questionnaire, or such other office or offices as
a Lender may from time to time notify Borrower and Agent.

     “Letter of Credit” means any letter of credit issued hereunder, and shall include the
Existing Letters of Credit.

     “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), charge, or preference, priority or other security interest
or preferential arrangement in the nature of a security interest of any kind or nature whatsoever
(including any conditional sale or other title retention agreement, any easement, right of way or
other encumbrance on title to real property, and any financing lease having substantially the same
economic effect as any of the foregoing).

     “Loan” means an extension of credit by a Lender to Borrower under Article II
in the form of a Committed Loan or a Swing Line Loan.

     “Loan Documents” means this Agreement (including the Facility Guaranty contained
herein), each Note, if any, each Issuer Document, the Security Instruments, the Lease Party
Documents, the Ground Lessor Agreements, the Environmental Indemnity Agreements, the Fee Letter,
the Intercreditor Agreement and the Guaranty.

     “Loan Parties” means, collectively, CSI, Borrower and each other Person (other than
Agent, the L/C Issuer, Swing Line Lender, or any Lender) executing a Loan Document including,
without limitation, each Guarantor.

     “Mandatorily Redeemable Stock” means, with respect to any Person, any Equity Interest
of such Person which by the terms of such Equity Interest (or by the terms of any security into
which it is convertible or for which it is exchangeable or exercisable), upon the happening of any
event or otherwise (a) matures or is mandatorily redeemable, pursuant to a sinking fund

21

 

obligation or otherwise (other than an Equity Interest to the extent redeemable in exchange
for common stock or other equivalent common Equity Interests), (b) is convertible into or
exchangeable or exercisable for Indebtedness or Mandatorily Redeemable Stock, or (c) is redeemable
at the option of the holder thereof, in whole or in part (other than an Equity Interest which is
redeemable solely in exchange for common stock or other equivalent common Equity Interests); in
each case, on or prior to the Maturity Date.

     “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the operations, business, properties, liabilities (actual or contingent),
condition (financial or otherwise) or prospects of CSI and its Subsidiaries or the Borrower and the
Guarantors, in each case taken as a whole; (b) a material impairment of the ability of any Loan
Party to perform its obligations under any Loan Document to which it is a party; or (c) a material
adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party
of any Loan Document to which it is a party.

     “Material Subsidiary” means any direct or indirect Subsidiary of CSI, other than any
Excluded Subsidiary, which either (a) is or becomes a guarantor or a borrower under the GAC Term
Loan Facility or (b) has total assets equal to or greater than five percent (5%) of the
Consolidated Total Asset Value (calculated as of the most recent fiscal period end with respect to
which Agent shall have received financial statements required to be delivered pursuant to
Sections 7.01(a) or (b)), or (c) owns a Borrowing Base Property; provided,
however, that any Material Subsidiary shall cease to be a Material Subsidiary and shall be
released immediately from the Guaranty or any obligation to provide a Guarantee of Borrower’s
Obligations, as the case may be, if (A) it or substantially all of its assets are sold or conveyed
in a transaction otherwise permitted under this Agreement and (B) such Material Subsidiary shall be
a guarantor or borrower under the GAC Term Loan Facility, its liabilities under such facility shall
be released substantially simultaneously.

     “Maturity Date” means March 10, 2011, such earlier date upon which the Aggregate
Commitments may be terminated in accordance with the terms hereof or as such date may be extended
pursuant to Section 2.15.

     “MEA Acquisition” means the Acquisition by CSI, through GAC of Marshall Erdman &
Associates, Inc. for a total acquisition cost not in excess of $253,000,000, inclusive of
transaction costs.

     “MEA Restricted Group” means, collectively, GAC and all subsidiaries thereof.

     “Merger Agreement” means the Agreement and Plan of Merger and Redemption of Preferred
Shares dated as of January 23, 2008, by and among GAC, CSI, the Borrower, and others, including all
exhibits, annexes and schedules thereto or referred to therein.

     “Mortgage” or “Mortgages” means, individually and collectively, as the context
requires, each of the fee or leasehold mortgages, deeds of trust and deeds to secure debt executed
by the Borrower, CSI, or any other Guarantor and delivered to Agent, granting a Lien to the Agent
(or a trustee for the benefit of the Agent) for the benefit of the Secured Parties in the Pledged
Properties, substantially in the form of Exhibit N.

22

 

     “Mortgage Receivables” means (i) the principal amount of any seller financing provided
by CSI or any Subsidiary thereof (other than a member of the MEA Restricted Group) to any Person on
an arm’s length transaction basis, which is secured by a mortgage on the real property assets
subject to such financing and (ii) collateralized mortgage obligations that are rated not less
“Baa2/BBB” by at least two nationally recognized rating agency services.

     “Multiemployer Plan” means any employee benefit plan of the type described in Section
4001(a)(3) of ERISA, to which Borrower or any ERISA Affiliate makes or is obligated to make
contributions, or during the preceding five plan years, has made or been obligated to make
contributions.

     “Net Operating Income” or “NOI” means, for any Property and for a given
period, an amount equal to (a) the sum of the gross revenues for such Property for such fiscal
period received in the ordinary course of business (excluding pre-paid rents and revenues and
security deposits except to the extent applied in satisfaction of tenants’ obligations for rent)
minus (b) all operating expenses incurred with respect to such Property for such fiscal
period (including an appropriate accrual for property taxes and insurance); provided that
there shall be deducted from such amount the following (to the extent not duplicative of deduction
already taken in the calculation of Net Operating Income), on a pro rata basis for such period,
management expenses computed at an annual rate equal to the greater of (i) 4% of the annualized
gross revenue of such Property and (ii) the annualized amount of management fees actually incurred
with respect to such Property. Borrower may perform the preceding calculation on an aggregate
basis for all such Properties wherever the context would appropriately permit or warrant the use of
an aggregate calculation.

     “Net Proceeds” means, with respect to the sale, transfer or other disposition by any
Loan Party of any Equity Interests to any Person other than any Loan Party, as applicable, (a) the
amount of cash (freely convertible into Dollars) received by such Loan Party, from such sale or
other disposition (including, without limitation, any tax refund or tax benefit resulting from a
loss on such sale or other disposition as and when such tax benefit is realized), after (i)
provision for all income or other taxes of CSI and its Subsidiaries measured by or resulting from
such sale or other disposition, (ii) payment of all reasonable third-party brokerage commissions
and other reasonable out-of-pocket fees and expenses to third parties related to such sale or other
disposition, and (iii) deduction of appropriate amounts to be provided by such Loan Party as a
reserve, in accordance with GAAP, against any liabilities associated with such sale, transfer or
other disposition and retained by such Loan Party after such sale or other disposition or (b) with
respect to the issuance of Partnership Units by the Borrower, the GAAP book value assigned to such
Partnership Units upon the issuance thereof.

     “Non-recourse Indebtedness” means, with respect to a Person, (a) Indebtedness of such
Person for borrowed money in respect of which recourse for payment (except for customary exceptions
for fraud, fraudulent conveyance, intentional misrepresentation, misappropriation of funds or other
property, misapplication of funds (including without limitation rents, profits, tenant deposits or
insurance or condemnation proceeds), mismanagement or waste, tax, ERISA, environmental and other
regulatory law indemnities, nonpayment of utilities, operations and maintenance expenses and
obligations secured by statutory liens, failure to comply with legal requirements necessary to
maintain the tax-exemption on the interest on such Indebtedness (if

23

 

applicable), failure to insure or failure to pay transfer fees and charges due to the lender
in connection with any sale or other transfer of the Property subject to such Indebtedness and any
fees and expenses (and interest thereon) of the holder of such Indebtedness in connection with the
enforcement of such recourse obligations (but not exceptions relating to bankruptcy, insolvency,
receivership or other similar events)) is contractually limited to specific assets of such Person
encumbered by a lien securing such Indebtedness or (b) if such Person is a Single Asset Entity, any
Indebtedness for borrowed money of such Person.

     “Note” means a promissory note made by Borrower in favor of a Lender evidencing Loans
made by such Lender, substantially in the form of Exhibit C.

     “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan
or Letter of Credit, Secured Cash Management Agreement or Secured Hedge Agreement, whether direct
or indirect (including those acquired by assumption), absolute or contingent, due or to become due,
now existing or hereafter arising and including interest and fees that accrue after the
commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any
Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such
interest and fees are allowed claims in such proceeding.

     “Occupancy Rate” means, with respect to a Property at any time, the ratio, expressed
as a percentage, of (a) the net rentable square footage of such Property actually occupied by
tenants that are not affiliated with Borrower and paying rent at rates not materially less than
rates generally prevailing at the time the applicable lease was entered into, pursuant to binding
leases as to which no monetary default has occurred and has continued unremedied for 30 or more
days to (b) the aggregate net rentable square footage of such Property. For purposes of the
definition of “Occupancy Rate”, a tenant shall be deemed to actually occupy a Property
notwithstanding a temporary cessation of operations for renovation, repairs or other temporary
reason, or for the purpose of completing tenant build-out or that is otherwise scheduled to be open
for business within 90 days of such date. For purposes of determining compliance with Section
7.17 hereof, the aggregate Occupancy Rate for the Borrowing Base shall be computed on an
aggregated basis for all Borrowing Base Properties, consistent with the provisions for determining
the Occupancy Rate for any individual Property as set forth above.

     “Off-Balance Sheet Obligations” means liabilities and obligations of CSI, Borrower,
any Subsidiary or any other Person in respect of “off-balance sheet arrangements” (as defined in
the SEC Off-Balance Sheet Rules) which CSI would be required to disclose in the “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” section of its report on
Form 10 Q or Form 10 K (or their equivalents) which CSI is required to file with the SEC. As used
in this definition, the term “SEC Off-Balance Sheet Rules” means the Disclosure in Management’s
Discussion and Analysis About Off Balance Sheet Arrangements, Securities Act Release No. 33-8182,
68 Fed. Reg. 5982 (Feb. 5, 2003) (codified at 17 CFR pts. 228, 229 and 249).

     “Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the

24

 

certificate or articles of formation or organization and operating agreement; and (c) with
respect to any partnership, joint venture, trust or other form of business entity, the partnership,
joint venture or other applicable agreement of formation or organization and any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or
organization with the applicable Governmental Authority in the jurisdiction of its formation or
organization and, if applicable, any certificate or articles of formation or organization of such
entity.

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

     “Outstanding Amount” means (i) with respect to Committed Loans and Swing Line Loans on
any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings
and prepayments or repayments of Committed Loans and Swing Line Loans, as the case may be,
occurring on such date; and (ii) with respect to any L/C Obligations on any date, the amount of
such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such
date and any other changes in the aggregate amount of the L/C Obligations as of such date,
including as a result of any reimbursements by Borrower of Unreimbursed Amounts.

     “Participant” has the meaning specified in Section 11.06(d).

     “Partnership Units” means with respect to Borrower, and with respect to each class of
partnership, those units representing an equal undivided fractional share of each item of
Borrower’s income, gain and loss and in distribution of Borrower’s assets.

     “PBGC” means the Pension Benefit Guaranty Corporation.

     “Pension Plan” means any “employee pension benefit plan” (as such term is defined in
Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and
is sponsored or maintained by Borrower or any ERISA Affiliate or to which Borrower or any ERISA
Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or
other plan described in Section 4064(a) of ERISA, has made contributions at any time during the
immediately preceding five plan years.

     “Permitted Distribution Amount” means, with respect to any period of time, 95% of
Funds From Operations for the relevant period.

     “Permitted Encumbrances” means, (a) with respect to any Eligible Property that is a
Pledged Property as of the Closing Date, the title exceptions shown in Schedule B of the loan title
insurance commitment for such Pledged Property submitted to and approved by Agent, and such other
title exceptions submitted in writing to, and approved by, Agent, or (b) with respect to any
Eligible Property which shall become a Pledged Property following the Closing Date, any easements,
rights-of-ways, restrictions and other encumbrances affecting real estate which, individually or in
the aggregate, are not substantial in amount and which do not materially detract from the value of
the property subject thereto or materially interfere with the ordinary

25

 

conduct of the business conducted on such property, and such other title exceptions submitted
in writing to, and approved by, the Agent.

     “Permitted Liens” means, with respect to any personal property relating to a Pledged
Property in which a Loan Party has granted a security interest to Agent pursuant to a Mortgage, any
Liens encumbering such personal property which have been submitted in writing to, and approved by,
Agent.

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

     “Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of
ERISA) established by Borrower or, with respect to any such plan that is subject to Section 412 of
the Code or Title IV of ERISA, any ERISA Affiliate.

     “Platform” has the meaning specified in Section 7.02.

     “Pledged Property” or “Pledged Properties” means individually or collectively
as the context indicates, any Eligible Property or Eligible Properties subject to a Mortgage.

     “Preferred Dividends” means, for any period and without duplication, all Restricted
Payments paid during such period on Preferred Equity Interests issued by CSI or any Subsidiary.
“Preferred Dividends” shall not include dividends or distributions (a) paid or payable solely in
Equity Interests (other than Mandatorily Redeemable Stock) payable to holders of such class of
Equity Interests; (b) paid or payable to CSI or any Subsidiary; or (c) constituting or resulting in
the redemption of Preferred Equity Interests, other than scheduled redemptions not constituting
balloon, bullet or similar redemptions in full.

     “Preferred Equity Interest” means, with respect to any Person, Equity Interests in
such Person which are entitled to preference or priority over any other Equity Interest in such
Person in respect of the payment of dividends or distribution of assets upon liquidation or both.

     “Property” means any parcel of real property owned or leased (in whole or in part) by
Borrower or any Subsidiary and which is located in a state of the United States of America or the
District of Columbia.

     “Qualified Appraiser” means a MAI appraiser selected by the Agent or reasonably
acceptable to the Agent.

     “Real Estate Leverage Ratio” means, as of any date of determination, the ratio of
Consolidated Real Estate Indebtedness to Consolidated Real Estate Asset Value.

     “Real Property Support Documents” means, with respect to each Borrowing Base Property,
a survey, loan title insurance commitment, an estoppel agreement with the ground lessor and its
mortgagee (if applicable), Lease Party Documents, certified rent roll, copies of all tenant leases,
evidence that the Property is not in violation of any applicable zoning requirements, and such
other usual and customary documentation for a Borrowing Base Property as Agent may reasonably
require, in form and substance satisfactory to the Agent.

26

 

     “Recourse Indebtedness” means any Indebtedness of CSI or any of its Subsidiaries that
is not Non-recourse Indebtedness, other than Indebtedness outstanding pursuant to this Agreement
and the other Loan Documents.

     “Register” has the meaning specified in Section 11.06(c).

     “Registration Statement” means the Registration Statement of CSI on Form S-11,
Registration No. 333-127396, as filed by CSI with the SEC on October 26, 2005.

     “REIT” means a real estate investment trust qualified for treatment as such for United
States Federal income tax purposes under Sections 856 through 860 of the Code.

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

     “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than events for which the 30 day notice period has been waived.

     “Request for Credit Extension” means (a) with respect to a Borrowing, conversion or
continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit
Extension, a L/C Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

     “Required Lenders” means, as of any date of determination, Lenders having more than
50% of the Aggregate Commitments or, if the commitment of each Lender to make Loans and the
obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to
Section 9.02, Lenders holding in the aggregate more than 50% of the Total Outstandings
(with the aggregate amount of each Lender’s risk participation and funded participation in L/C
Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this
definition); provided that the Commitment of, and the portion of the Total Outstandings
held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a
determination of Required Lenders.

     “Responsible Officer” means the chief executive officer, president, chief financial
officer, treasurer or assistant treasurer of a Loan Party. Any document delivered hereunder that
is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been
authorized by all necessary corporate, partnership and/or other action on the part of such Loan
Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such
Loan Party.

     “Restricted Payment” means (a) any dividend or other distribution, direct or indirect,
on account of any Equity Interest of CSI or any Subsidiary now or hereafter outstanding, except a
dividend payable solely in Equity Interests of identical class to the holders of that class; (b)
any redemption, conversion, exchange, retirement, sinking fund or similar payment, purchase or
other acquisition for value, direct or indirect, of any Equity Interest of Borrower or any
Subsidiary now or hereafter outstanding; and (c) any payment made to retire, or to obtain the

27

 

surrender of, any outstanding warrants, options or other rights to acquire any Equity
Interests of Borrower or any Subsidiary now or hereafter outstanding.

     “Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002.

     “SEC” means the Securities and Exchange Commission, or any Governmental Authority
succeeding to any of its principal functions.

     “Secured Cash Management Agreement” means any Cash Management Agreement that is
entered into by and between any Loan Party and any Cash Management Bank.

     “Secured Hedge Agreement” means any Swap Contract permitted under Article VIII
that is entered into by and between any Loan Party and any Hedge Bank.

     “Secured Parties” means, collectively, Agent and the Lenders, the Hedge Banks and the
Cash Management Banks.

     “Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of
1934, Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and
practices promulgated, approved or incorporated by the SEC or the Public Company Accounting
Oversight Board, as each of the foregoing may be amended and in effect on any applicable date
hereunder.

     “Security Instruments” means, collectively or individually as the context may
indicate, the Mortgages and all other agreements, instruments and other documents, whether now
existing or hereafter in effect, pursuant to which the Borrower or other Loan Party or any other
Person shall grant or convey to the Agent for the benefit of the Secured Parties a Lien on, or any
other Person shall acknowledge any such Lien on, property as security for all or any portion of the
Obligations.

     “Single Asset Entity” means a Person (other than an individual) that (a) only owns a
single Property; (b) is engaged only in the business of owning, developing and/or leasing such
Property; and (c) receives substantially all of its gross revenues from such Property. In
addition, if the assets of a Person consist solely of (i) Equity Interests in one other Single
Asset Entity and (ii) cash and other assets of nominal value incidental to such Person’s ownership
of the other Single Asset Entity, such Person shall also be deemed to be a “Single Asset Entity”.

     “Solvent” means, when used with respect to any Person, that at the time of
determination:

     (a) the fair value of its assets (both at fair valuation and at present fair saleable
value on an orderly basis) is in excess of the total amount of its liabilities, including
contingent obligations; and

     (b) it is then able and expects to be able to pay its debts as they mature; and

     (c) it has capital sufficient to carry on its business as conducted and as proposed to
be conducted.

28

 

     “Subsidiary” of a Person means a corporation, partnership, limited liability company
or other business entity of which a majority of the shares of securities or other interests having
ordinary voting power for the election of directors or other governing body (other than securities
or interests having such power only by reason of the happening of a contingency) are at the time
beneficially owned, or the management of which is otherwise controlled, directly or indirectly,
through one or more intermediaries, or both, by such Person. Unless otherwise specified, all
references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or
Subsidiaries of CSI.

     “Subsidiary Guarantors” means each of the Material Subsidiaries of Borrower at the
Closing Date and each other Subsidiary that becomes a party to the Guaranty (including by execution
of a Guaranty Joinder Agreement).

     “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest
rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement, and (b) any and all transactions of any kind, and
the related confirmations, which are subject to the terms and conditions of, or governed by, any
form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a “Master Agreement”), including any such
obligations or liabilities under any Master Agreement.

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable netting agreement relating to such Swap
Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and
termination value(s) determined in accordance therewith, such termination value(s), and (b) for any
date prior to the date referenced in clause (a), the amount(s) determined as the
mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or
other readily available quotations provided by any recognized dealer in such Swap Contracts (which
may include a Lender or any Affiliate of a Lender).

     “Swing Line” means the revolving credit facility made available by Swing Line Lender
pursuant to Section 2.04.

     “Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section
2.04.

     “Swing Line Lender” means Bank of America in its capacity as provider of Swing Line
Loans, or any successor swing line lender hereunder.

29

 

     “Swing Line Loan” has the meaning specified in Section 2.04(a).

     “Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to
Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit
B.

     “Swing Line Sublimit” means an amount equal to, on any day within the Availability
Period, the lesser of (a) $25,000,000, (b) the Available Amount and (c) the amount of the Aggregate
Commitments available to be borrowed on such day. The Swing Line Sublimit is part of, and not in
addition to, the Aggregate Commitments.

     “Synthetic DSCR Principal Amount” means the principal amount of a hypothetical loan
that would result in a Synthetic Portfolio Debt Service Coverage Ratio equal to 1.20 to 1.00. The
“Synthetic Portfolio Debt Service Coverage Ratio” means the ratio of (a) aggregate Net Operating
Income attributable to the Borrowing Base Properties minus Capital Reserves allocable to such
properties for the fiscal quarter most recently ended times 4, to (b) annualized aggregate debt
service on hypothetical, 30-year loan amortizing on a monthly, level-debt-service basis and bearing
interest (computed on a 365-6/360 basis) at a per annum rate equal to the greater of (i) 7.50% and
(ii) the sum of (x) the then current yield on United States Treasury securities having a 10 year
maturity plus (y) 200 basis points.

     “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or
possession of property creating obligations that do not appear on the balance sheet of such Person
but which, upon the insolvency or bankruptcy of such Person, would be characterized as the
indebtedness of such Person (without regard to accounting treatment).

     “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings, assessments, fees or other charges imposed by any Governmental Authority, including
any interest, additions to tax or penalties applicable thereto.

     “Total Collateral Value” means an aggregate amount equal to 75% of the aggregate
Appraised Values of the Borrowing Base Properties, based upon the Appraised Value for each
Borrowing Base Property most recently received by the Agent.

     “Total Debt to Real Estate Value Ratio” means, as of any date of determination, the
ratio of Consolidated Total Indebtedness as of such date to Consolidated Real Estate Asset Value as
of such date.

     “Total Leverage Ratio” means, as of any date of determination, the ratio of
Consolidated Total Indebtedness as of such date to Consolidated Total Asset Value as of such date.

     “Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C
Obligations.

     “Type” means, with respect to a Committed Loan, its character as a Base Rate Loan or a
Eurodollar Rate Loan.

30

 

     “Unconsolidated Affiliate” means, with respect to CSI or any Subsidiary thereof, any
other Person in whom CSI or any such Subsidiary holds an Investment, which Investment is accounted
for in the financial statements of CSI and its Subsidiaries on an equity basis of accounting and
whose financial results would not be consolidated under GAAP with the financial results of CSI on
its consolidated financial statements.

     “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities
under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets,
determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section
412 of the Code for the applicable plan year.

     “Unimproved Land” means land on which no development (other than improvements that are
not material and are temporary in nature) has occurred and for which no development is scheduled in
the following 12 months.

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

     “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i).

     1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan
Document, unless otherwise specified herein or in such other Loan Document:

     (a) The definitions of terms herein shall apply equally to the singular and plural forms of
the terms defined. Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word
“will” shall be construed to have the same meaning and effect as the word “shall”.
Unless the context requires otherwise, (i) any definition of or reference to any agreement,
instrument or other document (including any Organization Document) shall be construed as referring
to such agreement, instrument or other document as from time to time amended, supplemented or
otherwise modified (subject to any restrictions on such amendments, supplements or modifications
set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be
construed to include such Person’s successors and assigns, (iii) the words “herein”,
“hereof” and “hereunder”, and words of similar import when used in any Loan
Document, shall be construed to refer to such Loan Document in its entirety and not to any
particular provision thereof, (iv) all references in a Loan Document to Articles, Sections,
Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and
Schedules to, the Loan Document in which such references appear, (v) any reference to any law shall
include all statutory and regulatory provisions consolidating, amending, replacing or interpreting
such law and any reference to any law or regulation shall, unless otherwise specified, refer to
such law or regulation as amended, modified or supplemented from time to time, and (vi) the words
“asset” and “property” shall be construed to have the same meaning and effect and
to refer to any and all tangible and intangible assets and properties, including cash, securities,
accounts and contract rights.

31

 

     (b) In the computation of periods of time from a specified date to a later specified date, the
word “from” means “from and including”; the words “to” and “until”
each mean “to but excluding”; and the word “through” means “to and
including”.

     (c) Section headings herein and in the other Loan Documents are included for convenience of
reference only and shall not affect the interpretation of this Agreement or any other Loan
Document.

     1.03 Accounting Terms. (a) Generally. All accounting terms not specifically or
completely defined herein shall be construed in conformity with, and all financial data (including
financial ratios and other financial calculations) required to be submitted pursuant to this
Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect
from time to time, applied in a manner consistent with that used in preparing the Audited Financial
Statements (provided that it shall be prepared on a consolidated rather than a combined
basis) except as otherwise specifically prescribed herein.

     (b) Changes in GAAP. If at any time any change in GAAP would affect the computation
of any financial ratio or requirement set forth in any Loan Document, and either Borrower or the
Required Lenders shall so request, Agent, Lenders and Borrower shall negotiate in good faith to
amend such ratio or requirement to preserve the original intent thereof in light of such change in
GAAP (subject to the approval of the Required Lenders); provided that, until so amended,
(i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such
change therein and (ii) Borrower shall provide to Agent and Lenders financial statements and other
documents required under this Agreement or as reasonably requested hereunder setting forth a
reconciliation between calculations of such ratio or requirement made before and after giving
effect to such change in GAAP.

     (c) Consolidation of Variable Interest Entities. All references herein to
consolidated financial statements of CSI and its Subsidiaries or to the determination of any amount
for CSI and its Subsidiaries on a consolidated basis or any similar reference shall, in each case,
be deemed to include each variable interest entity that CSI is required to consolidate pursuant to
FASB Interpretation No. 46 – Consolidation of Variable Interest Entities: an interpretation of ARB
No. 51 (January 2003) as if such variable interest entity were a Subsidiary as defined herein.

     (d) Valuation of Indebtedness. For purposes of calculating the Real Estate Leverage
Ratio and the Total Leverage Ratio, all Consolidated Real Estate Indebtedness and Consolidated
Total Indebtedness shall be determined as the outstanding principal amount thereof.

     1.04 Rounding. Any financial ratios required to be maintained by Borrower pursuant to this
Agreement shall be calculated by dividing the appropriate component by the other component,
carrying the result to one place more than the number of places by which such ratio is expressed
herein and rounding the result up or down to the nearest number (with a rounding-up if there is no
nearest number).

     1.05 Times of Day. Unless otherwise specified, all references herein to times of day shall be
references to Eastern time (daylight or standard, as applicable).

32

 

     1.06 Letter of Credit Amounts. Unless otherwise specified herein the amount of a Letter of
Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at
such time; provided, however, that with respect to any Letter of Credit that, by
its terms or the terms of any Issuer Document related thereto, provides for one or more automatic
increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be
the maximum stated amount of such Letter of Credit after giving effect to all such increases,
whether or not such maximum stated amount is in effect at such time.

ARTICLE II.

THE COMMITMENTS AND CREDIT EXTENSIONS

     2.01 Committed Loans. Subject to the terms and conditions set forth herein, each Lender
severally agrees to make loans (each such loan, a “Committed Loan”) to Borrower from time
to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed
at any time outstanding the amount of such Lender’s Commitment; provided, however,
that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed
the Available Amount, and (ii) the aggregate Outstanding Amount of the Committed Loans of any
Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C
Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all
Swing Line Loans shall not exceed such Lender’s Commitment. Within the limits of each Lender’s
Commitment, and subject to the other terms and conditions hereof, Borrower may borrow under this
Section 2.01, prepay under Section 2.05, and reborrow under this Section
2.01. Committed Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided
herein.

     2.02 Borrowings, Conversions and Continuations of Committed Loans. (a) Each Committed
Borrowing, each conversion of Committed Loans from one Type to the other, and each continuation of
Eurodollar Rate Loans shall be made upon Borrower’s irrevocable notice to Agent, which may be given
by telephone. Each such notice must be received by Agent not later than 11:00 a.m. (i) three
Business Days prior to the requested date of any Borrowing of, conversion to or continuation of
Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Committed Loans,
and (ii) on the requested date of any Borrowing of Base Rate Committed Loans. Each telephonic
notice by Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery
to Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible
Officer of Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans
shall be in a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof.
Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion
to Base Rate Committed Loans shall be in a principal amount of $1,000,000 or a whole multiple of
$100,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall
specify (i) whether Borrower is requesting a Committed Borrowing, a conversion of Committed Loans
from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of
the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day),
(iii) the principal amount of Committed Loans to be borrowed, converted or continued, (iv) the Type
of Committed Loans to be borrowed or to which existing Committed Loans are to be converted, and (v)
if applicable, the duration of the Interest Period with respect thereto. If Borrower fails to
specify a Type of Committed Loan in a Committed Loan Notice or if Borrower fails to give a timely
notice requesting a conversion or continuation, then the applicable Committed Loans shall

33

 

be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate
Loans shall be effective as of the last day of the Interest Period then in effect with respect to
the applicable Eurodollar Rate Loans. If Borrower requests a Borrowing of, conversion to, or
continuation of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an
Interest Period, it will be deemed to have specified an Interest Period of one month.

     (b) Following receipt of a Committed Loan Notice, Agent shall promptly notify each Lender of
the amount of its Applicable Percentage of the applicable Committed Loans, and if no timely notice
of a conversion or continuation is provided by Borrower, Agent shall notify each Lender of the
details of any automatic conversion to Base Rate Loans described in the preceding subsection. In
the case of a Committed Borrowing, each Lender shall make the amount of its Committed Loan
available to Agent in immediately available funds at Agent’s Office not later than 1:00 p.m. on the
Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the
applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial
Credit Extension, Section 4.01), Agent shall make all funds so received available to
Borrower in like funds as received by Agent either by (i) crediting the account of Borrower on the
books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each
case in accordance with instructions provided to (and reasonably acceptable to) Agent by Borrower;
provided, however, that if, on the date the Committed Loan Notice with respect to
such Borrowing is given by Borrower, there are L/C Borrowings outstanding, then the proceeds of
such Borrowing first, shall be applied, to the payment in full of any such L/C Borrowings,
and second, shall be made available to Borrower as provided above.

     (c) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted
only on the last day of an Interest Period for such Eurodollar Rate Loan. During the existence of
a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without
the consent of the Required Lenders.

     (d) Agent shall promptly notify Borrower and Lenders of the interest rate applicable to any
Interest Period for Eurodollar Rate Loans upon determination of such interest rate.

     (e) After giving effect to all Committed Borrowings, all conversions of Committed Loans from
one Type to the other, and all continuations of Committed Loans as the same Type, there shall not
be more than ten Interest Periods in effect with respect to Eurodollar Rate Loans.

     2.03 Letters of Credit.

     (a) The Letter of Credit Commitment.

     (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in
reliance upon the agreements of the Lenders set forth in this Section 2.03, (1) from
time to time on any Business Day during the period from the Closing Date until the L/C
Expiration Date, to issue Letters of Credit for the account of Borrower, and to amend
Letters of Credit previously issued by it, in accordance with subsection (b) below,
and (2) to honor drawings under the Letters of Credit; and (B) the Lenders severally agree
to participate in Letters of Credit issued for the account of Borrower and any drawings
thereunder; provided that after giving effect to any L/C Credit Extension with
respect to

34

 

any Letter of Credit, (x) the Total Outstandings shall not exceed the Available Amount,
(y) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such
Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations,
plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line
Loans shall not exceed such Lender’s Commitment, or (z) the Outstanding Amount of the L/C
Obligations shall not exceed the L/C Sublimit. Each request by Borrower for the issuance or
amendment of a Letter of Credit shall be deemed to be a representation by Borrower that the
L/C Credit Extension so requested complies with the conditions set forth in the proviso to
the preceding sentence. Within the foregoing limits, and subject to the terms and
conditions hereof, Borrower’s ability to obtain Letters of Credit shall be fully revolving,
and accordingly Borrower may, during the foregoing period, obtain Letters of Credit to
replace Letters of Credit that have expired or that have been drawn upon and reimbursed.
All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from
and after the Closing Date shall be subject to and governed by the terms and conditions
hereof.

     (ii) The L/C Issuer shall not issue any Letter of Credit, if:

     (A) the expiry date of such requested Letter of Credit would occur more than
twelve months after the date of issuance, unless the Required Lenders have approved
such expiry date; or

     (B) the expiry date of such requested Letter of Credit would occur after the
L/C Expiration Date, unless all the Lenders have approved such expiry date.

     (iii) The L/C Issuer shall be under no obligation to issue any Letter of Credit if:

     (A) any order, judgment or decree of any Governmental Authority or arbitrator
shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such
Letter of Credit, or any Law applicable to the L/C Issuer or any request or
directive (whether or not having the force of law) from any Governmental Authority
with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer
refrain from, the issuance of letters of credit generally or such Letter of Credit
in particular or shall impose upon the L/C Issuer with respect to such Letter of
Credit any restriction, reserve or capital requirement (for which the L/C Issuer is
not otherwise compensated hereunder) not in effect on the Closing Date, or shall
impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not
applicable on the Closing Date and which the L/C Issuer in good faith deems material
to it;

     (B) the issuance of such Letter of Credit would violate one or more policies of
the L/C Issuer;

     (C) except as otherwise agreed by Agent and the L/C Issuer, such Letter of
Credit is in an initial stated amount less than $100,000, in the case of a
commercial Letter of Credit, or $500,000, in the case of a standby Letter of Credit;

35

 

     (D) such Letter of Credit is to be denominated in a currency other than
Dollars;

     (E) a default of any Lender’s obligations to fund under Section 2.03(c)
exists or any Lender is at such time a Defaulting Lender hereunder, unless the L/C
Issuer has entered into satisfactory arrangements with Borrower or such Lender to
eliminate the L/C Issuer’s risk with respect to such Lender; or

     (F) unless specifically provided for in this Agreement, such Letter of Credit
contains any provisions for automatic reinstatement of the stated amount after any
drawing thereunder.

     (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be
permitted at such time to issue such Letter of Credit in its amended form under the terms
hereof.

     (v) The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A)
the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its
amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does
not accept the proposed amendment to such Letter of Credit.

     (vi) The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith, and the L/C Issuer shall have
all of the benefits and immunities (A) provided to Agent in Article X with respect
to any acts taken or omissions suffered by the L/C Issuer in connection with Letters of
Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such
Letters of Credit as fully as if the term “Administrative Agent” or “Agent” as used in
Article X included the L/C Issuer with respect to such acts or omissions, and (B) as
additionally provided herein with respect to the L/C Issuer.

     (b) Procedures for Issuance and Amendment of Letters of Credit.

     (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of Borrower delivered to the L/C Issuer (with a copy to Agent) in the form of a L/C
Application, appropriately completed and signed by a Responsible Officer of Borrower. Such
L/C Application must be received by the L/C Issuer and Agent not later than 11:00 a.m. at
least four Business Days (or such later date and time as Agent and the L/C Issuer may agree
in a particular instance in their sole discretion) prior to the proposed issuance date or
date of amendment, as the case may be. In the case of a request for an initial issuance of
a Letter of Credit, such L/C Application shall specify in form and detail satisfactory to
the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which
shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name
and address of the beneficiary thereof; (E) the documents to be presented by such
beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be
presented by such beneficiary in case of any drawing thereunder; and (G) such other matters
as the L/C Issuer may require. In the case of a request for an amendment of any outstanding
Letter of Credit, such L/C Application shall

36

 

specify in form and detail satisfactory to the L/C Issuer (A) the Letter of Credit to
be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C)
the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may
require. Additionally, Borrower shall furnish to the L/C Issuer and Agent such other
documents and information pertaining to such requested Letter of Credit issuance or
amendment, including any Issuer Documents, as the L/C Issuer or Agent may require.

     (ii) Promptly after receipt of any L/C Application at the address set forth on
Schedule 11.02 for receiving L/C Applications and related correspondence, the L/C
Issuer will confirm with Agent (by telephone or in writing) that Agent has received a copy
of such L/C Application from Borrower and, if not, the L/C Issuer will provide Agent with a
copy thereof. Unless the L/C Issuer has received written notice from any Lender, Agent or
any Loan Party, at least one Business Day prior to the requested date of issuance or
amendment of the applicable Letter of Credit, that one or more applicable conditions in
Article IV shall not then be satisfied, then, subject to the terms and conditions
hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the
account of Borrower or enter into the applicable amendment, as the case may be, in each case
in accordance with the L/C Issuer’s usual and customary business practices. Immediately
upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby
irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation
in such Letter of Credit in an amount equal to the product of such Lender’s Applicable
Percentage times the amount of such Letter of Credit.

     (iii) Promptly after its delivery of any Letter of Credit or any amendment to a Letter
of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C
Issuer will also deliver to Borrower and Agent a true and complete copy of such Letter of
Credit or amendment.

     (c) Drawings and Reimbursements; Funding of Participations.

     (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a
drawing under such Letter of Credit, the L/C Issuer shall notify Borrower and Agent thereof.
Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of
Credit (each such date, an “Honor Date”), Borrower shall reimburse the L/C Issuer
through Agent in an amount equal to the amount of such drawing. If Borrower fails to so
reimburse the L/C Issuer by such time, Agent shall promptly notify each Lender of the Honor
Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the
amount of such Lender’s Applicable Percentage thereof. In such event, Borrower shall be
deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the
Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and
multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but
subject to the amount of the unutilized portion of the Available Amount and the conditions
set forth in Section 4.02 (other than the delivery of a Committed Loan Notice). Any
notice given by the L/C Issuer or Agent pursuant to this Section 2.03(c)(i) may be
given by telephone if immediately confirmed in writing; provided that the lack of
such an immediate confirmation shall not affect the conclusiveness or binding effect of such
notice.

37

 

     (ii) Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make
funds available to Agent for the account of the L/C Issuer at the Administrative Agent’s
Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later
than 1:00 p.m. on the Business Day specified in such notice by Agent, whereupon, subject to
the provisions of Section 2.03(c)(iii), each Lender that so makes funds available
shall be deemed to have made a Base Rate Committed Loan to Borrower in such amount. Agent
shall remit the funds so received to the L/C Issuer.

     (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a
Committed Borrowing of Base Rate Loans because the conditions set forth in Section
4.02 cannot be satisfied or for any other reason, Borrower shall be deemed to have
incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that
is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with
interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment
to Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be
deemed payment in respect of its participation in such L/C Borrowing and shall constitute an
L/C Advance from such Lender in satisfaction of its participation obligation under this
Section 2.03.

     (iv) Until each Lender funds its Committed Loan or L/C Advance pursuant to this
Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of
Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be
solely for the account of the L/C Issuer.

     (v) Each Lender’s obligation to make Committed Loans or L/C Advances to reimburse the
L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section
2.03(c), shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right
which such Lender may have against the L/C Issuer, Borrower or any other Person for any
reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other
occurrence, event or condition, whether or not similar to any of the foregoing;
provided, however, that each Lender’s obligation to make Committed Loans
pursuant to this Section 2.03(c) is subject to the conditions set forth in
Section 4.02 (other than delivery by Borrower of a Committed Loan Notice). No such
making of an L/C Advance shall relieve or otherwise impair the obligation of Borrower to
reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any
Letter of Credit, together with interest as provided herein.

     (vi) If any Lender fails to make available to Agent for the account of the L/C Issuer
any amount required to be paid by such Lender pursuant to the foregoing provisions of this
Section 2.03(c) by the time specified in Section 2.03(c)(ii), the L/C Issuer
shall be entitled to recover from such Lender (acting through Agent), on demand, such amount
with interest thereon for the period from the date such payment is required to the date on
which such payment is immediately available to the L/C Issuer at a rate per annum equal to
the greater of the Federal Funds Rate and a rate determined by the L/C Issuer in accordance
with banking industry rules on interbank compensation, plus any administrative,
processing or similar fees customarily charged by the LC/ Issuer in

38

 

connection with the foregoing. A certificate of the L/C Issuer submitted to any Lender
(through Agent) with respect to any amounts owing under this clause (vi) shall be conclusive
absent manifest error.

     (d) Repayment of Participations.

     (i) At any time after the L/C Issuer has made a payment under any Letter of Credit and
has received from any Lender such Lender’s L/C Advance in respect of such payment in
accordance with Section 2.03(c), if Agent receives for the account of the L/C Issuer
any payment in respect of the related Unreimbursed Amount or interest thereon (whether
directly from Borrower or otherwise, including proceeds of Cash Collateral applied thereto
by Agent), Agent will distribute to such Lender its Applicable Percentage thereof
(appropriately adjusted, in the case of interest payments, to reflect the period of time
during which such Lender’s L/C Advance was outstanding) in the same funds as those received
by Agent.

     (ii) If any payment received by Agent for the account of the L/C Issuer pursuant to
Section 2.03(c)(i) is required to be returned under any of the circumstances
described in Section 11.05 (including pursuant to any settlement entered into by the
L/C Issuer in its discretion), each Lender shall pay to Agent for the account of the L/C
Issuer its Applicable Percentage thereof on demand of Agent, plus interest thereon from the
date of such demand to the date such amount is returned by such Lender, at a rate per annum
equal to the Federal Funds Rate from time to time in effect. The obligations of Lenders
under this clause shall survive the payment in full of the Obligations and the termination
of this Agreement.

     (e) Obligations Absolute. The obligation of Borrower to reimburse the L/C Issuer for
each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute,
unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement under all circumstances, including the following:

     (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or
any other Loan Document;

     (ii) the existence of any claim, counterclaim, setoff, defense or other right that
Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of
such Letter of Credit (or any Person for whom any such beneficiary or any such transferee
may be acting), the L/C Issuer or any other Person, whether in connection with this
Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement
or instrument relating thereto, or any unrelated transaction;

     (iii) any draft, demand, certificate or other document presented under such Letter of
Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any
statement therein being untrue or inaccurate in any respect; or any loss or delay in the
transmission or otherwise of any document required in order to make a drawing under such
Letter of Credit;

39

 

     (iv) any payment by the L/C Issuer under such Letter of Credit against presentation of
a draft or certificate that does not strictly comply with the terms of such Letter of
Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person
purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of
creditors, liquidator, receiver or other representative of or successor to any beneficiary
or any transferee of such Letter of Credit, including any arising in connection with any
proceeding under any Debtor Relief Law; or

     (v) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including any other circumstance that might otherwise constitute a defense
available to, or a discharge of, Borrower or any Subsidiary, other than actual repayment.

     Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto
that is delivered to it and, in the event of any claim of noncompliance with Borrower’s
instructions or other irregularity, Borrower will immediately notify the L/C Issuer. Borrower
shall be conclusively deemed to have waived any such claim against the L/C Issuer and its
correspondents unless such notice is given as aforesaid.

     (f) Role of L/C Issuer. Each Lender and Borrower agree that, in paying any drawing
under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document
(other than any sight draft, certificates and documents expressly required by the Letter of Credit)
or to ascertain or inquire as to the validity or accuracy of any such document or the authority of
the Person executing or delivering any such document. None of the L/C Issuer, Agent, any of their
respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall
be liable to any Lender for (i) any action taken or omitted in connection herewith at the request
or with the approval of Lenders or the Required Lenders, as applicable; (ii) any action taken or
omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution,
effectiveness, validity or enforceability of any document or instrument related to any Letter of
Credit or Issuer Document. Borrower hereby assumes all risks of the acts or omissions of any
beneficiary or transferee with respect to its use of any Letter of Credit; provided,
however, that this assumption is not intended to, and shall not, preclude Borrower’s
pursuing such rights and remedies as it may have against the beneficiary or transferee at law or
under any other agreement. None of the L/C Issuer, Agent, any of their respective Related Parties
nor any correspondent, participant or assignee of the L/C Issuer, shall be liable or responsible
for any of the matters described in clauses (i) through (v) of Section
2.03(e); provided, however, that anything in such clauses to the contrary
notwithstanding, Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be liable
to Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or
exemplary, damages suffered by Borrower which Borrower proves were caused by the L/C Issuer’s
willful misconduct or gross negligence or the L/C Issuer’s willful failure to pay under any Letter
of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s)
strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in
limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in
order, without responsibility for further investigation, regardless of any notice or information to
the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any
instrument transferring or assigning or

40

 

purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or
proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.

     (g) Cash Collateral. Upon the request of Agent, (i) if the L/C Issuer has honored any
full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C
Borrowing, or (ii) if, as of the L/C Expiration Date, any L/C Obligation for any reason remains
outstanding, Borrower shall, in each case, immediately Cash Collateralize the then Outstanding
Amount of all L/C Obligations. Sections 2.05 and 9.02(c) set forth certain
additional requirements to deliver Cash Collateral hereunder. For purposes of this Agreement,
“Cash Collateralize” means to pledge and deposit with or deliver to Agent, for the benefit
of the L/C Issuer and the Lenders, as collateral for the L/C Obligations, cash or deposit account
balances pursuant to documentation in form and substance satisfactory to Agent and the L/C Issuer
(which documents are hereby consented to by Lenders). Derivatives of such term have corresponding
meanings. Borrower hereby grants to Agent, for the benefit of the L/C Issuer and Lenders, a
security interest in all such cash, deposit accounts and all balances therein and all proceeds of
the foregoing. Cash collateral shall be maintained in blocked, non-interest bearing deposit
accounts at Bank of America.

     (h) Applicability of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer
and Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each
standby Letter of Credit (including any such agreement applicable to an Existing Letter of Credit),
and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently
published by the International Chamber of Commerce at the time of issuance shall apply to each
commercial Letter of Credit.

     (i) L/C Fees. Borrower shall pay to Agent for the account of each Lender in
accordance with its Applicable Percentage a Letter of Credit fee (the “L/C Fee”) for each
Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under
such Letter of Credit. For purposes of computing the daily amount available to be drawn under any
Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. L/C Fees shall be (i) computed on a quarterly basis in arrears and (ii) due
and payable on the first Business Day after the end of each March, June, September and December,
commencing with the first such date to occur after the issuance of such Letter of Credit, on the
L/C Expiration Date and thereafter on demand. If there is any change in the Applicable Rate during
any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed
and multiplied by the Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the
request of the Required Lenders, while any Event of Default exists, all L/C Fees shall accrue at
the Default Rate.

     (j) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer.
Borrower shall pay directly to the L/C Issuer for its own account a fronting fee (i) with respect
to each commercial Letter of Credit, at the rate specified in the Fee Letter, computed on the
amount of such Letter of Credit, and payable upon the issuance thereof, (ii) with respect to any
amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a
rate separately agreed between Borrower and the L/C Issuer, computed on the amount of such
increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each

41

 

standby Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the
daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears;
provided, however, that, notwithstanding the foregoing, such fronting fee shall be
not less than $500 per annum. Such fronting fee shall be due and payable on the tenth Business Day
after the end of each March, June, September and December, in respect of the most recently-ended
quarterly period (or portion thereof, in the case of the first payment), commencing with the first
such date to occur after the issuance of such Letter of Credit, on the L/C Expiration Date and
thereafter on demand. For purposes of computing the daily amount available to be drawn under any
Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.06. In addition, Borrower shall pay directly to the L/C Issuer for its own
account the customary issuance, presentation, amendment and other processing fees, and other
standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in
effect. Such individual customary fees and standard costs and charges are due and payable on
demand and are nonrefundable.

     (k) Conflict with Issuer Documents. In the event of any conflict between the terms
hereof and the terms of any Issuer Document, the terms hereof shall control.

     2.04 Swing Line Loans.

     (a) The Swing Line. Subject to the terms and conditions set forth herein, Swing Line
Lender agrees, in reliance upon the agreements of the other Lenders set forth in this Section
2.04, to make loans (each such loan, a “Swing Line Loan”) to Borrower from time to time
on any Business Day during the Availability Period in an aggregate amount not to exceed at any time
outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line
Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Committed Loans
and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such
Lender’s Commitment; provided, however, that after giving effect to any Swing Line
Loan, (i) the Total Outstandings shall not exceed the Available Amount, and (ii) the aggregate
Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable
Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable
Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s
Commitment, and provided, further, that the Borrower shall not use the proceeds of any Swing Line
Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits, and subject to the
other terms and conditions hereof, Borrower may borrow under this Section 2.04, prepay
under Section 2.05 and reborrow under this Section 2.04. Each Swing Line Loan
shall be a Base Rate Loan. Immediately upon the making of a Swing Line Loan, each Lender shall be
deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Swing Line Lender a
risk participation in such Swing Line Loan in an amount equal to the product of such Lender’s
Applicable Percentage times the amount of such Swing Line Loan.

     (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon Borrower’s
irrevocable notice to Swing Line Lender and Agent, which may be given by telephone. Each such
notice must be received by Swing Line Lender and Agent not later than 11:00 a.m. on the requested
borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of
$100,000, and (ii) the requested borrowing date, which shall be a Business Day. Each such
telephonic notice must be confirmed promptly by delivery to Swing

42

 

Line Lender and Agent of a written Swing Line Loan Notice, appropriately completed and signed
by a Responsible Officer of Borrower. Promptly after receipt by Swing Line Lender of any
telephonic Swing Line Loan Notice, Swing Line Lender will confirm with Agent (by telephone or in
writing) that Agent has also received such Swing Line Loan Notice and, if not, Swing Line Lender
will notify Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line
Lender has received notice (by telephone or in writing) from Agent (including at the request of any
Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing (A) directing Swing
Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the
proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable
conditions specified in Article IV is not then satisfied, then, subject to the terms and
conditions hereof, Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified
in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to Borrower at its
office by crediting the account of Borrower on the books of Swing Line Lender in immediately
available funds. Lenders agree that Swing Line Lender may agree to modify the borrowing procedures
used in connection with the Swing Line in its discretion and without affecting any of the
obligations of Lenders hereunder other than notifying Agent of a Swing Line Loan Notice.

     (c) Refinancing of Swing Line Loans.

     (i) Swing Line Lender at any time in its sole and absolute discretion may request, on
behalf of Borrower (which hereby irrevocably authorizes Swing Line Lender to so request on
its behalf), that each Lender make a Base Rate Committed Loan in an amount equal to such
Lender’s Applicable Percentage of the amount of Swing Line Loans then outstanding. Such
request shall be made in writing (which written request shall be deemed to be a Committed
Loan Notice for purposes hereof) and in accordance with the requirements of Section
2.02, without regard to the minimum and multiples specified therein for the principal
amount of Base Rate Loans, but subject to the unutilized portion of the Available Amount and
the conditions set forth in Section 4.02. Swing Line Lender shall furnish Borrower
with a copy of the applicable Committed Loan Notice promptly after delivering such notice to
Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount
specified in such Committed Loan Notice available to Agent in immediately available funds
for the account of Swing Line Lender at the Administrative Agent’s Office not later than
11:00 a.m. on the day specified in such Committed Loan Notice, whereupon, subject to
Section 2.04(c)(ii), each Lender that so makes funds available shall be deemed to
have made a Base Rate Committed Loan to Borrower in such amount. Agent shall remit the
funds so received to Swing Line Lender.

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a Committed
Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate Committed
Loans submitted by Swing Line Lender as set forth herein shall be deemed to be a request by
Swing Line Lender that each of the Lenders fund its risk participation in the relevant Swing
Line Loan and each Lender’s payment to Agent for the account of Swing Line Lender pursuant
to Section 2.04(c)(i) shall be deemed payment in respect of such participation.

43

 

     (iii) If any Lender fails to make available to Agent for the account of Swing Line
Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of
this Section 2.04(c) by the time specified in Section 2.04(c)(i), Swing Line
Lender shall be entitled to recover from such Lender (acting through Agent), on demand, such
amount with interest thereon for the period from the date such payment is required to the
date on which such payment is immediately available to Swing Line Lender at a rate per annum
equal to the greater of the Federal Funds Rate and a rate determined by Swing Line Lender in
accordance with banking industry rules on interbank compensation, plus any
administrative, processing or similar fees customarily charged by the Swing Line Lender in
connection with the foregoing. If such Lender pays such amount (with interest and fees as
foresaid), the amount so paid shall constitute such Lender’s Committed Loan included in the
relevant Committed Borrowing or funded participation in the relevant Swing Line Loan, as the
case may be. A certificate of the Swing Line Lender submitted to any Lender (through Agent)
with respect to any amounts owing under this clause (iii) shall be conclusive absent
manifest error.

     (iv) Each Lender’s obligation to make Committed Loans or to purchase and fund risk
participations in Swing Line Loans pursuant to this Section 2.04(c) shall be
absolute and unconditional and shall not be affected by any circumstance, including (A) any
setoff, counterclaim, recoupment, defense or other right which such Lender may have against
Swing Line Lender, Borrower or any other Person for any reason whatsoever, (B) the
occurrence or continuance of a Default, or (C) any other occurrence, event or condition,
whether or not similar to any of the foregoing; provided, however, that each
Lender’s obligation to make Committed Loans pursuant to this Section 2.04(c) is
subject to the conditions set forth in Section 4.02. No such funding of risk
participations shall relieve or otherwise impair the obligation of Borrower to repay Swing
Line Loans, together with interest as provided herein.

     (d) Repayment of Participations.

     (i) At any time after any Lender has purchased and funded a risk participation in a
Swing Line Loan, if Swing Line Lender receives any payment on account of such Swing Line
Loan, Swing Line Lender will distribute to such Lender its Applicable Percentage of such
payment (appropriately adjusted, in the case of interest payments, to reflect the period of
time during which such Lender’s risk participation was funded) in the same funds as those
received by Swing Line Lender.

     (ii) If any payment received by Swing Line Lender in respect of principal or interest
on any Swing Line Loan is required to be returned by Swing Line Lender under any of the
circumstances described in Section 11.05 (including pursuant to any settlement
entered into by Swing Line Lender in its discretion), each Lender shall pay to Swing Line
Lender its Applicable Percentage thereof on demand of Agent, plus interest thereon from the
date of such demand to the date such amount is returned, at a rate per annum equal to the
Federal Funds Rate. Agent will make such demand upon the request of Swing Line Lender. The
obligations of Lenders under this clause shall survive the payment in full of the
Obligations and the termination of this Agreement.

44

 

     (e) Interest for Account of Swing Line Lender. Swing Line Lender shall be responsible
for invoicing Borrower for interest on the Swing Line Loans. Until each Lender funds its Base Rate
Committed Loan or risk participation pursuant to this Section 2.04 to refinance such
Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such Applicable
Percentage shall be solely for the account of Swing Line Lender.

     (f) Payments Directly to Swing Line Lender. Borrower shall make all payments of
principal and interest in respect of the Swing Line Loans directly to Swing Line Lender.

     2.05 Prepayments. (a) Borrower may, upon notice to Agent, at any time or from time to time
voluntarily prepay Committed Loans in whole or in part without premium or penalty; provided
that (i) such notice must be received by Agent not later than 11:00 a.m. (A) three Business Days
prior to any date of prepayment of Eurodollar Rate Loans and (B) on the date of prepayment of Base
Rate Committed Loans; (ii) any prepayment of Eurodollar Rate Loans shall be in a principal amount
of $1,000,000 or a whole multiple of $100,000 in excess thereof; and (iii) any prepayment of Base
Rate Committed Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in
excess thereof or, in each case, if less, the entire principal amount thereof then outstanding.
Each such notice shall specify the date and amount of such prepayment and the Type(s) of Committed
Loans to be prepaid and, if Eurodollar Rate Loans are to be repaid, the Interest Period(s) of such
Loans. Agent will promptly notify each Lender of its receipt of each such notice, and of the
amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by
Borrower, Borrower shall make such prepayment and the payment amount specified in such notice shall
be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall
be accompanied by all accrued interest on the amount prepaid, together with any additional amounts
required pursuant to Section 3.05. Each such prepayment shall be applied to the Committed
Loans of Lenders in accordance with their respective Applicable Percentages.

     (b) Borrower may, upon notice to Swing Line Lender (with a copy to Agent), at any time or from
time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty;
provided that (i) such notice must be received by Swing Line Lender and Agent not later
than 1:00 p.m. on the date of the prepayment, and (ii) any such prepayment shall be in a minimum
principal amount of $100,000. Each such notice shall specify the date and amount of such
prepayment. If such notice is given by Borrower, Borrower shall make such prepayment and the
payment amount specified in such notice shall be due and payable on the date specified therein.

     (c) If for any reason the Total Outstandings at any time exceed the Available Amount then in
effect, Borrower shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an
aggregate amount equal to such excess; provided, however, that Borrower shall not
be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(c)
unless after the prepayment in full of the Loans the Total Outstandings exceed the Available Amount
then in effect.

     2.06 Termination or Reduction of Commitments. Borrower may, upon notice to Agent, terminate
the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments;
provided that (i) any such notice shall be received by Agent not later

45

 

than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any
such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of
$1,000,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Aggregate
Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total
Outstandings would exceed the Available Amount, and (iv) if, after giving effect to any reduction
of the Aggregate Commitments, the L/C Sublimit or the Swing Line Sublimit exceeds the amount of the
Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess.
Agent will promptly notify the Lenders of any such notice of termination or reduction of the
Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the
Commitment of each Lender according to its Applicable Percentage. All fees accrued until the
effective date of any termination of the Aggregate Commitments shall be paid on the effective date
of such termination.

     2.07 Repayment of Loans. (a) Borrower shall repay to Lenders on the Maturity Date the
aggregate principal amount of Committed Loans outstanding on such date.

     (b) Borrower shall repay to Swing Line Lender each Swing Line Loan on the earlier to occur of
(i) the date which is five Business Days after such Loan is made and (ii) the Maturity Date.

     2.08 Interest. (a) Subject to the provisions of subsection (b) below, (i) each
Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each
Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period
plus the Applicable Rate; (ii) each Base Rate Committed Loan shall bear interest on the
outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal
to the Base Rate plus the Applicable Rate; and (iii) each Swing Line Loan shall bear
interest on the outstanding principal amount thereof from the applicable borrowing date at a rate
per annum equal to the Base Rate plus the Applicable Rate.

     (i) If any amount of principal of any Loan is not paid when due (without regard to any
applicable grace periods), whether at stated maturity, by acceleration or otherwise, such
amount shall thereafter bear interest at a fluctuating interest rate per annum at all times
equal to the Default Rate to the fullest extent permitted by applicable Laws.

     (ii) If any amount (other than principal of any Loan) payable by Borrower under any
Loan Document is not paid when due (without regard to any applicable grace periods), whether
at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest
at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws, unless waived by the Required Lenders.

     (iii) Upon the request of the Required Lenders, while any Event of Default exists,
Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder
at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws; provided however, that at any
time an Event of Default exists and interest is accruing at a default rate of interest under
the GAC

46

 

Term Loan Credit Agreement, the principal amount of all outstanding Obligations
hereunder shall automatically bear interest at the Default Rate without any action on the
part of the Lenders.

     (iv) Accrued and unpaid interest on past due amounts (including interest on past due
interest) shall be due and payable upon demand.

     (b) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified herein. Interest hereunder shall be
due and payable in accordance with the terms hereof before and after judgment, and before and after
the commencement of any proceeding under any Debtor Relief Law.

     2.09 Fees. In addition to certain fees described in subsections (i) and (j)
of Section 2.03:

     (a) Utilization Fee. Borrower shall pay to Agent for the account of each Lender in
accordance with its Applicable Percentage a utilization fee (the “Utilization Fee”) equal
to (i) on each day that the Total Outstandings are less than 50% of the amount of the Aggregate
Commitments then in effect (or, if terminated, in effect immediately prior to such termination),
0.200% times the actual daily amount by which the Aggregate Commitments exceed the Total
Outstandings and (ii) on each day that the Total Outstandings equal or exceed 50% of the amount of
the Aggregate Commitments then in effect (or, if terminated, in effect immediately prior to such
termination), 0.100% times the actual daily amount by which the Aggregate Commitments
exceed the Total Outstandings. The Utilization Fee shall be due and payable quarterly in arrears
on the last Business Day of each March, June, September and December, commencing with the first
such date to occur after the Closing Date, and on the Maturity Date (and, if applicable, thereafter
on demand). The Utilization Fee shall be calculated quarterly in arrears. The Utilization Fee
shall accrue at all times following the Closing Date, including at any time during which one or
more of the conditions in Article IV is not met.

     (b) Other Fees. Borrower shall pay (i) to Arranger and Agent for their own respective
accounts and (ii) to Agent, for the account of each Lender in accordance with their respective
Applicable Percentages, fees in the amounts and at the times specified in the Fee Letter. All such
fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

     2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate. (a) All
computations of interest for Base Rate Loans when the Base Rate is determined by Bank of America’s
“prime rate” shall be made on the basis of a year of 365 or 366 days, as the case may be, and
actual days elapsed. All other computations of fees and interest shall be made on the basis of a
360-day year and actual days elapsed (which results in more fees or interest, as applicable, being
paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the
day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day
on which the Loan or such portion is paid, provided that any Loan that is repaid on the
same day on which it is made shall, subject to Section 2.12(a), bear

47

 

interest for one day. Each determination by Agent of an interest rate or fee hereunder shall
be conclusive and binding for all purposes, absent manifest error.

     (b) If, as a result of any restatement of or other adjustment to the financial statements of
the Borrower or for any other reason, the Borrower or the Lenders determine that (i) the Total
Leverage Ratio as calculated by the borrower as of any applicable date was inaccurate and (ii) a
proper calculation of the Total Leverage Ratio would have resulted in higher pricing for such
period, the Borrower shall immediately and retroactively be obligated to pay to the Agent for the
account of the applicable Lenders, promptly on demand by the Agent (or, after the occurrence of an
actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy
Code of the United States, automatically and without further action by the Agent, any Lender or the
L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have been
paid for such period over the amount of interest and fees actually paid for such period. This
paragraph shall not limit the rights of the Agent, any Lender or the L/C Issuer, as the case may
be, under Section 2.03(c)(iii), 2.03(i) or 2.08(a) or under Article
XI. The Borrower’s obligations under this paragraph shall survive the termination of the
Aggregate Commitments and the repayment of all other Obligations hereunder.

     2.11 Evidence of Debt. (a) The Credit Extensions made by each Lender shall be evidenced by
one or more accounts or records maintained by such Lender and by Agent in the ordinary course of
business. The accounts or records maintained by Agent and each Lender shall be conclusive absent
manifest error of the amount of the Credit Extensions made by Lenders to Borrower and the interest
and payments thereon. Any failure to so record or any error in doing so shall not, however, limit
or otherwise affect the obligation of Borrower hereunder to pay any amount owing with respect to
the Obligations. In the event of any conflict between the accounts and records maintained by any
Lender and the accounts and records of Agent in respect of such matters, the accounts and records
of Agent shall control in the absence of manifest error. Upon the request of any Lender made
through Agent, Borrower shall execute and deliver to such Lender (through Agent) a Note, which
shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach
schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of
its Loans and payments with respect thereto.

     (b) In addition to the accounts and records referred to in subsection (a), each Lender and
Agent shall maintain in accordance with its usual practice accounts or records evidencing the
purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans. In
the event of any conflict between the accounts and records maintained by Agent and the accounts and
records of any Lender in respect of such matters, the accounts and records of Agent shall control
in the absence of manifest error.

     2.12 Payments Generally; Agent’s Clawback.

     (a) General. All payments to be made by Borrower shall be made without
condition or deduction for any counterclaim, defense, recoupment or setoff. Except as
otherwise expressly provided herein, all payments by Borrower hereunder shall be made to
Agent, for the account of the respective Lenders to which such payment is owed, at the
Administrative Agent’s Office in Dollars and in immediately available funds not later than
2:00 p.m. on the date specified herein. Agent will promptly distribute to each

48

 

Lender its Applicable Percentage(or other applicable share as provided herein) of such
payment in like funds as received by wire transfer to such Lender’s Lending Office. All
payments received by Agent after 2:00 p.m. shall be deemed received on the next succeeding
Business Day and any applicable interest or fee shall continue to accrue. If any payment to
be made by Borrower shall come due on a day other than a Business Day, payment shall be made
on the next following Business Day, and such extension of time shall be reflected in
computing interest or fees, as the case may be.

     (b) (i) Funding by Lenders; Presumption by Agent. Unless Agent shall have
received notice from a Lender prior to the proposed date of any Committed Borrowing of
Eurodollar Rate Loans (or, in the case of any Committed Borrowing of Base Rate Loans, prior
to 12:00 noon on the date of such Committed Borrowing) that such Lender will not make
available to Agent such Lender’s share of such Committed Borrowing, Agent may assume that
such Lender has made such share available on such date in accordance with Section
2.02 (or, in the case of a Committed Borrowing of Base Rate Loans, that such Lender has
made such share available in accordance with and at the time required by Section
2.02) and may, in reliance upon such assumption, make available to Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share of the
applicable Committed Borrowing available to Agent, then the applicable Lender and Borrower
severally agree to pay to Agent forthwith on demand such corresponding amount in immediately
available funds with interest thereon, for each day from and including the date such amount
is made available to Borrower to but excluding the date of payment to Agent, at (A) in the
case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a
rate determined by Agent in accordance with banking industry rules on interbank
compensation, plus any administrative, processing or similar fees customarily
charged by Agent in connection with the foregoing and (B) in the case of a payment to be
made by Borrower, the interest rate applicable to Base Rate Loans. If Borrower and such
Lender shall pay such interest to Agent for the same or an overlapping period, Agent shall
promptly remit to Borrower the amount of such interest paid by Borrower for such period. If
such Lender pays its share of the applicable Committed Borrowing to Agent, then the amount
so paid shall constitute such Lender’s Committed Loan included in such Committed Borrowing.
Any payment by Borrower shall be without prejudice to any claim Borrower may have against a
Lender that shall have failed to make such payment to Agent.

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

49

 

A notice of Agent to any Lender or Borrower with respect to any amount owing under this
subsection (b) shall be conclusive, absent manifest error.

     (c) Failure to Satisfy Conditions Precedent. If any Lender makes available to Agent
funds for any Loan to be made by such Lender as provided in the foregoing provisions of this
Article II, and such funds are not made available to Borrower by Agent because the
conditions to the applicable Credit Extension set forth in Article IV are not satisfied or
waived in accordance with the terms hereof, Agent shall return such funds (in like funds as
received from such Lender) to such Lender, without interest.

     (d) Obligations of Lenders Several. The obligations of Lenders hereunder to make
Committed Loans, to fund participations in Letters of Credit and Swing Line Loans and to make
payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender
to make any Committed Loan, to fund any such participation or to make any payment under Section
11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding
obligation to do so on such date, and no Lender shall be responsible for the failure of any other
Lender to so make its Committed Loan, purchase its participation or to make its payment under
Section 11.04(c).

     (e) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain
the funds for any Loan in any particular place or manner or to constitute a representation by any
Lender that it has obtained or will obtain the funds for any Loan in any particular place or
manner.

     2.13 Sharing of Payments. Subject to the terms of the Intercreditor Agreement, if any Lender
shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of
any principal of or interest on any of the Committed Loans made by it, or the participations in L/C
Obligations or in Swing Line Loans held by it resulting in such Lender’s receiving payment of a
proportion of the aggregate amount of such Committed Loans or participations and accrued interest
thereon greater than its pro rata share thereof as provided herein, then the Lender
receiving such greater proportion shall (a) notify Agent of such fact, and (b) purchase (for cash
at face value) participations in the Committed Loans and subparticipations in L/C Obligations and
Swing Line Loans of the other Lenders, or make such other adjustments as shall be equitable, so
that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the
aggregate amount of principal of and accrued interest on their respective Committed Loans and other
amounts owing them, provided that:

     (i) if any such participations or subparticipations are purchased and all or any
portion of the payment giving rise thereto is recovered, such participations or
subparticipations shall be rescinded and the purchase price restored to the extent of such
recovery, without interest; and

     (ii) the provisions of this Section shall not be construed to apply to (x) any payment
made by Borrower pursuant to and in accordance with the express terms of this Agreement or
(y) any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Committed Loans or subparticipations in L/C

50

 

Obligations or Swing Line Loans to any assignee or participant, other than to Borrower
or any Subsidiary thereof (as to which the provisions of this Section shall apply).

Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under
applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements
may exercise against such Loan Party rights of setoff and counterclaim with respect to such
participation as fully as if such Lender were a direct creditor of such Loan Party in the amount of
such participation.

     2.14 Increase in Commitments.

     (a) Request for Increase. Provided there exists no Default, upon notice to Agent
(which shall promptly notify the Lenders), Borrower may from time to time request an increase in
the Aggregate Commitments by an amount (for all such requests) not exceeding $100,000,000 in the
aggregate; provided that (i) any such request for an increase shall be in a minimum amount
of $15,000,000, and (ii) Borrower may make a maximum of three such requests. At the time of
sending such notice, Borrower (in consultation with Agent) shall specify the time period within
which each Lender is requested to respond (which shall in no event be less than ten Business Days
from the date of delivery of such notice to the Lenders).

     (b) Lender Elections to Increase. Each Lender shall notify the Agent within such time
period whether or not it agrees to increase its Commitment and, if so, whether by an amount equal
to, greater than, or less than its Applicable Percentage of such requested increase. Any Lender
not responding within such time period shall be deemed to have declined to increase its Commitment.

     (c) Notification by Administrative Agent; Additional Lenders. The Administrative
Agent shall notify Borrower and each Lender of the Lenders’ responses to each request made
hereunder. To achieve the full amount of a requested increase and subject to the approval of
Agent, the L/C Issuer and the Swing Line Lender (each of which approvals shall not be unreasonably
withheld), Borrower may also invite additional Eligible Assignees to become Lenders pursuant to a
joinder agreement in form and substance satisfactory to Agent and its counsel.

     (d) Effective Date and Allocations. If the Aggregate Commitments are increased in
accordance with this Section, Agent and Borrower shall determine the effective date (the
“Increase Effective Date”) and the final allocation of such increase. Agent shall promptly
notify Borrower and the Lenders of the final allocation of such increase and the Increase Effective
Date.

     (e) Conditions to Effectiveness of Increase. As a condition precedent to such
increase, Borrower shall deliver to Agent at Borrower’s expense, (I) updated appraisals meeting the
Appraisal Requirements for each Borrowing Base Property as may be requested by the Agent and (II) a
certificate of each Loan Party dated as of the Increase Effective Date (in sufficient copies for
each Lender) signed by a Responsible Officer of such Loan Party (i) certifying and attaching the
resolutions adopted by such Loan Party approving or consenting to such increase, and (ii) in the
case of Borrower, certifying that, before and after giving effect to such increase, (A) the
representations and warranties contained in Article VI and the other Loan Documents are

51

 

true and correct on and as of the Increase Effective Date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they are true
and correct as of such earlier date, and except that for purposes of this Section 2.14, the
representations and warranties contained in subsections (a) and (b) of Section
6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses
(a) and (b), respectively, of Section 7.01, and (B) no Default exists.
Borrower shall prepay any Committed Loans outstanding on the Increase Effective Date (and pay any
additional amounts required pursuant to Section 3.05) to the extent necessary to keep the
outstanding Committed Loans ratable with any revised Applicable Percentages arising from any
nonratable increase in the Commitments under this Section.

     (f) Conflicting Provisions. This Section shall supersede any provisions in
Sections 2.13 or 11.01 to the contrary.

     2.15 Extension of Maturity Date.

     (a) Requests for Extension. Borrower may, by notice to Agent (who shall promptly
notify the Lenders), extend the Maturity Date for a year from the Maturity Date not earlier than
the date that is 120 days prior to Maturity Date and not later than the date that is 75 days prior
to Maturity Date.

     (b) Minimum Extension Requirement. If Borrower has made a request pursuant to
Section 2.15(a) to extend the Maturity Date, then, effective as of the Maturity Date, the
Maturity Date of each Lender shall be extended to the date falling one year after the Maturity Date
(except that, if such date is not a Business Day, such Maturity Date as so extended shall be the
next preceding Business Day).

     (c) Conditions to Effectiveness of Extensions. Notwithstanding the foregoing, each
extension of the Maturity Date pursuant to this Section shall not be effective with respect to any
Lender unless:

     (i) no Default or Event of Default shall have occurred and be continuing on the date of
such extension and after giving effect thereto;

     (ii) the representations and warranties contained in this Agreement are true and
correct in all material respects on and as of the date of such extension and after giving
effect thereto, as though made on and as of such date (or, if any such representation or
warranty is expressly stated to have been made as of a specific date, as of such specific
date), provided that the representations and warranties contained in subsections
(a) and (b) of Section 6.05 shall be deemed to refer to the most recent
financial statements furnished pursuant to clauses (a) and (b),
respectively, of Section 7.01 and the representation and warranty contained in
Section 6.05 shall be deemed to refer to the most recent financial statements
furnished pursuant to clause (a) or clause (b) of Section 7.01;

     (iii) Borrower shall have delivered to Agent a certificate certifying and attaching the
resolutions adopted by Borrower approving or consenting to such extension (which such
resolutions may be certified in, and attached to, the certificate certifying to

52

 

resolutions of Borrower delivered on or prior to the Closing Date pursuant to
Section 4.01(a)(iii));

     (iv) Borrower shall have delivered to Agent, at Borrower’s expense, appraisals meeting
the Appraisal Requirements for each Borrowing Base Property as the Agent may request, in
order for the Agent to confirm a Total Collateral Value of not less than $100,000,000;
provided that in no event may an appraisal be required with respect to any Borrowing Base
Property for which the Borrower has previously delivered a qualifying appraisal dated a date
not earlier than one year prior to the effective date of the extension of the Maturity Date;

     (v) Borrower shall have paid to Agent for the account of each Lender in accordance with
its Applicable Percentage a fee equal to 0.200% times the Aggregate Commitments then
in effect; and

     (vi) either (a) the maturity of the GAC Term Loan Facility shall have been extended to
a date no earlier than the extended maturity date of the Senior Credit Facility (and there
shall not have occurred any prepayment of the GAC Term Loan Facility in anticipation of such
extension) or (b) the Required Lenders shall be satisfied in their sole discretion with the
then existing and forward-looking pro forma financial condition and liquidity of CSI and its
Subsidiaries giving effect to any payment, extension or refinancing of the GAC Term Loan
Facility.

     (d) Conflicting Provisions. This Section shall supersede any provisions in
Section 2.13 or 11.01 to the contrary.

ARTICLE III.

TAXES, YIELD PROTECTION AND ILLEGALITY

     3.01 Taxes.

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

     (b) Payment of Other Taxes by Borrower. Without limiting the provisions of subsection
(a) above, Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in
accordance with applicable law.

     (c) Indemnification by Borrower. Borrower shall indemnify Agent, each Lender and the
L/C Issuer, within 10 days after demand therefor, for the full amount of any Indemnified

53

 

Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts payable under this Section) paid by Agent, such Lender or the L/C Issuer,
as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with
respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such
payment or liability delivered to Borrower by a Lender or the L/C Issuer (with a copy to Agent), or
by Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent
manifest error.

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

     (e) Status of Lenders. Any Foreign Lender that is entitled to an exemption from or
reduction of withholding tax under the law of the jurisdiction in which Borrower is resident for
tax purposes, or any treaty to which such jurisdiction is a party, with respect to payments
hereunder or under any other Loan Document shall deliver to Borrower (with a copy to Agent), at the
time or times prescribed by applicable law or reasonably requested by Borrower or Agent (but in no
event later than the date on which any amounts are payable under this Agreement), 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 of withholding. In addition, any Lender, if
requested by Borrower or Agent, shall deliver such other documentation prescribed by applicable law
or reasonably requested by Borrower or Agent as will enable Borrower or Agent to determine whether
or not such Lender is subject to backup withholding or information reporting requirements.

     Without limiting the generality of the foregoing, in the event that Borrower is resident for
tax purposes in the United States, any Foreign Lender shall deliver to Borrower and Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such
Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
request of Borrower or Agent, but only if such Foreign Lender is legally entitled to do so),
whichever of the following is applicable:

     (i) two duly completed and properly executed copies of Internal Revenue Service Form
W-8BEN claiming eligibility for benefits of an income tax treaty to which the United States
and the country of such Foreign Lender are parties,

     (ii) two duly completed and properly executed copies of Internal Revenue Service Form
W-8ECI,

     (iii) in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under section 881(c) of the Code, (x) a certificate to the effect that
such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the
Code, (B) a “10 percent shareholder” of Borrower within the meaning of section 881(c)(3)(B)
of the Code, or (C) a “controlled foreign corporation” described in section

54

 

881(c)(3)(C) of the Code and (y) two duly completed and properly executed copies of
Internal Revenue Service Form W-8BEN, or

     (iv) any other form prescribed by applicable law as a basis for claiming exemption from
or a reduction in United States Federal withholding tax duly completed and properly executed
together with such supplementary documentation as may be prescribed by applicable law to
permit Borrower to determine the withholding or deduction required to be made.

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

     3.02 Illegality. If any Lender determines that any Law has made it unlawful, or that any
Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending
Office to make, maintain or fund Eurodollar Rate Loans, or to determine or charge interest rates
based upon the Eurodollar Rate, or any Governmental Authority has imposed material restrictions on
the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London
interbank market, then, on notice thereof by such Lender to Borrower through Agent, any obligation
of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Committed Loans to
Eurodollar Rate Loans shall be suspended until such Lender notifies Agent and Borrower that the
circumstances giving rise to such determination no longer exist. Upon receipt of such notice,
Borrower shall, upon demand from such Lender (with a copy to Agent), prepay or, if applicable,
convert all Eurodollar Rate Loans of such Lender to Base Rate Loans, either on the last day of the
Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate
Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such
Eurodollar Rate Loans. Upon any such prepayment or conversion, Borrower shall also pay accrued
interest on the amount so prepaid or converted and all amounts due under Section 3.05 in
accordance with the terms thereof due to such prepayment or conversion.

     3.03 Inability to Determine Rates. If the Required Lenders determine in connection with any
request for a Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar
deposits are not being offered to banks in the London interbank eurodollar market for the
applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable

55

 

means do not exist for determining the Eurodollar Base Rate for any requested Interest Period
with respect to a proposed Eurodollar Rate Loan, or (c) the Eurodollar Base Rate for any requested
Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly
reflect the cost to such Lenders of funding such Loan, Agent will promptly so notify Borrower and
each Lender. Thereafter, the obligation of Lenders to make or maintain Eurodollar Rate Loans shall
be suspended until Agent (upon the instruction of the Required Lenders) revokes such notice. Upon
receipt of such notice, Borrower may revoke any pending request for a Borrowing of, conversion to
or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such
request into a request for a Committed Borrowing of Base Rate Loans in the amount specified
therein.

     3.04 Increased Costs.

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

     (i) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account
of, or credit extended or participated in by, any Lender (except any reserve requirement
reflected in the Eurodollar Rate) or the L/C Issuer;

     (ii) subject any Lender or the L/C Issuer to any tax of any kind whatsoever with
respect to this Agreement, any Letter of Credit, any participation in a Letter of Credit or
any Eurodollar Rate Loan made by it, or change the basis of taxation of payments to such
Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes or Other Taxes
covered by Section 3.01 and the imposition of, or any change in the rate of, any
Excluded Tax payable by such Lender or the L/C Issuer); or

     (iii) impose on any Lender or the L/C Issuer or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurodollar Rate Loans made by such
Lender or any Letter of Credit or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurodollar Rate Loan (or of maintaining its obligation to make any such Loan), or
to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining
any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of
Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer
hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or
the L/C Issuer, Borrower will pay to such Lender or the L/C Issuer, as the case may be, such
additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be,
for such additional costs incurred or reduction suffered.

     (b) Capital Requirements. If any Lender or the L/C Issuer determines that any Change
in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such
Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would
have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on
the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of
Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level

56

 

below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding
company could have achieved but for such Change in Law (taking into consideration such Lender’s or
the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company
with respect to capital adequacy), then from time to time Borrower will pay to such Lender or the
L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or
the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction
suffered.

     (c) Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer
setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its
holding company, as the case may be, as specified in subsection (a) or (b) of this Section and
delivered to Borrower shall be conclusive absent manifest error. Borrower shall pay such Lender or
the L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days
after receipt thereof.

     (d) Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer
to demand compensation pursuant to the foregoing provisions of this Section shall not constitute a
waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided
that Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to the
foregoing provisions of this Section for any increased costs incurred or reductions suffered more
than nine months prior to the date that such Lender or the L/C Issuer, as the case may be, notifies
Borrower of the Change in Law giving rise to such increased costs or reductions and of such
Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change
in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period
referred to above shall be extended to include the period of retroactive effect thereof).

     3.05 Compensation for Losses. Upon demand of any Lender (with a copy to Agent) from time to
time, Borrower shall promptly compensate such Lender for and hold such Lender harmless from any
loss, cost or expense incurred by it as a result of:

     (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate
Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary,
mandatory, automatic, by reason of acceleration, or otherwise); or

     (b) any failure by Borrower (for a reason other than the failure of such Lender to make a
Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in
the amount notified by Borrower; or

     (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest
Period therefore as a result of a request for the Borrower pursuant to Section 11.13;

including any loss of anticipated profits and any loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the
deposits from which such funds were obtained. Borrower shall also pay any customary administrative
fees charged by such Lender in connection with the foregoing. For purposes of calculating amounts
payable by Borrower to Lenders under this Section 3.05, each Lender shall be deemed to have
funded each Eurodollar Rate Loan made by it at the Eurodollar Base Rate used in determining the
Eurodollar Rate for such Loan by a matching deposit or other borrowing

57

 

in the London interbank eurodollar market for a comparable amount and for a comparable period,
whether or not such Eurodollar Rate Loan was in fact so funded.

     3.06 Mitigation Obligations; Replacement Lenders.

     (a) Designation of a Different Lending Office. If any Lender requests compensation
under Section 3.04, or Borrower is required to pay any additional amount to any Lender or
any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if
any Lender gives a notice pursuant to Section 3.02, then such Lender shall use reasonable
efforts to designate a different Lending Office for funding or booking its Loans hereunder or to
assign its rights and obligations hereunder to another of its offices, branches or affiliates, if,
in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce
amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the
future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and
(ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not
otherwise be disadvantageous to such Lender. Borrower hereby agrees to pay all reasonable costs
and expenses incurred by any Lender in connection with any such designation or assignment.

     (b) Replacement of Lenders. If any Lender requests compensation under Section
3.04, or if Borrower is required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 3.01, Borrower may replace such
Lender in accordance with Section 11.13.

     3.07 Survival. All of Borrower’s obligations under this Article III shall survive
termination of the Aggregate Commitments and repayment of all other Obligations hereunder.

ARTICLE IV.

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

     4.01 Conditions of Initial Credit Extension. The obligation of the L/C Issuer and each Lender
to make its initial Credit Extension hereunder is subject to satisfaction of the following
conditions precedent:

     (a) Agent’s receipt of the following, each of which shall be originals or telecopies (followed
promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer
of the signing Loan Party, each dated the Closing Date or such other date as may be acceptable to
the Agent, and each in form and substance satisfactory to Agent and each of the Lenders:

     (i) fully executed counterparts of this Agreement, the Mortgages, the Lease Party
Documents, and the other Loan Documents, together with all schedules and exhibits thereto,
sufficient in number for distribution to Agent, each Lender and Borrower;

     (ii) a Note executed by Borrower in favor of each Lender requesting a Note;

     (iii) resolutions of the boards of directors or other appropriate governing body (or of
the appropriate committee thereof) of each Loan Party certified by its secretary or

58

 

assistant secretary as of the Closing Date, approving and adopting the Loan Documents
to be executed by such Person, and authorizing the execution and delivery thereof;

     (iv) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of each of CSI and the Borrower as Agent may
require evidencing the identity, authority and capacity of each Responsible Officer thereof
authorized to act as a Responsible Officer in connection with this Agreement and the other
Loan Documents to which such Loan Party is a party;

     (v) the Organization Documents of each of the Loan Parties certified as of a date not
more than 60 days prior to the Closing Date by the Secretary of State or comparable official
of its state of organization or by the secretary or assistant secretary of such Loan Party,
as applicable;

     (vi) such documents and certifications as Agent may reasonably require to evidence that
each of CSI and the Borrower is duly organized or formed, and that each such Loan Party is
validly existing, in good standing and qualified to engage in business in each jurisdiction
where its ownership, lease or operation of properties or the conduct of its business
requires such qualification, except to the extent that failure to do so could not reasonably
be expected to have a Material Adverse Effect;

     (vii) a favorable opinion of counsel to the Loan Parties addressed to Agent and each
Lender, as to the matters concerning CSI and the Borrower and the Loan Documents in form and
substance reasonably satisfactory to Agent;

     (viii) the favorable written opinions with respect to the Mortgages and related UCC
financing statements for each of the Borrowing Base Properties of special local counsel to
the Loan Parties dated the Closing Date, addressed to the Agent and the Lenders, and
satisfactory to Helms Mulliss & Wicker, PLLC, counsel to the Agent, substantially in the
form of Exhibit K;

     (ix) a certificate of a Responsible Officer of each Loan Party either (A) attaching
copies of all consents, licenses and approvals required in connection with the execution,
delivery and performance by such Loan Party and the validity against such Loan Party of the
Loan Documents to which it is a party, and such consents, licenses and approvals shall be in
full force and effect, or (B) stating that no such consents, licenses or approvals are so
required;

     (x) a certificate signed by a Responsible Officer of Borrower certifying (A) that the
conditions specified in Sections 4.02(a) and (b) have been satisfied, and
(B) that there has been no event or circumstance since the date of the Audited Financial
Statements and there are no actions, suits, proceedings, claims or disputes pending or, to
the knowledge of CSI and Borrower after due and diligent investigation, threatened or
contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or
against CSI or any of its Subsidiaries, that has had or could be reasonably expected to
have, either individually or in the aggregate, (i) a Material Adverse Effect, (ii) a
material adverse change in, or a material adverse effect on, the operations, business,
assets,

59

 

properties, liabilities (actual or contingent), condition (financial or otherwise) or
prospects of the MEA Restricted Group, taken as a whole, or (iii) a material adverse effect
on the MEA Acquisition or the financing thereof (including the imposition of material delays
or the imposition of material burdens thereon);

     (xi) evidence satisfactory to the Agent that the commitments under the Existing Credit
Agreement have been irrevocably terminated and all obligations thereunder have been
indefeasibly paid in full and all liens in respect of such obligations have been terminated
and released of record;

     (xii) evidence satisfactory to the Agent that CSI has raised not less than $50,000,000
in equity within the 45 day period preceding the Closing Date;

     (xiii) a duly completed pro forma Compliance Certificate as of December 31, 2007,
signed by a Responsible Officer of Borrower or CSI;

     (xiv) evidence that all insurance required to be maintained pursuant to the Loan
Documents has been obtained and is in effect;

     (xv) a Borrowing Notice, and if elected by the Borrower, an Interest Rate Selection
Notice;

     (xvi) an Available Amount Certificate (“Available Amount Certificate”) and an
Eligible Property Compliance Certificate, each dated as of the Closing Date, in the form of
Exhibits D and H, respectively, together with all exhibits thereto;

     (xvii) evidence of the filing of Uniform Commercial Code financing statements
reflecting the filing in all places required by applicable law to perfect the Liens of the
Agent under the Security Instruments as a first priority Lien as to items of Collateral in
which a security interest may be perfected by the filing of financing statements, and such
other documents and/or evidence of other actions as may be necessary under applicable law to
perfect the Liens of the Agent under the Security Instruments as a first priority Lien in
and to such other Collateral as the Agent may require in its reasonable discretion;

     (xviii) with respect to each Eligible Property identified as constituting a part of the
Borrowing Base on the Closing Date, delivery or satisfaction of each of the requirements in
Section 5A.04 applicable to such Eligible Property, as may be necessary to include
such Eligible Property in the Borrowing Base as set forth therein;

     (xix) Uniform Commercial Code search results showing only those Liens as are reasonably
acceptable to the Lenders;

     (xx) An intercreditor agreement between the Administrative Agent and Key Bank National
Association, as administrative agent under the GAC Term Loan Credit Agreement, acting on
behalf of itself and the GAC Lenders, and acknowledged and agreed to by the Borrower, CSI
and GAC, which intercreditor agreement shall be in form and substance satisfactory to the
Lenders (and shall address, among other matters, non-interference with recourse to
collateral, the allocation and sharing of payments received

60

 

by enforcement of any guaranty of a common guarantor, and accounting for cash
collateral accumulated in the MEA Restricted Group after the imposition of dividend or
distribution restrictions under the GAC Term Loan Facility) (the “Intercreditor
Agreement”), together with a copy, certified by a Responsible Officer of CSI, of the GAC
Term Loan Credit Agreement, which shall be in form and substance, including but not limited
to financial covenants and restrictions on Restricted Payments, satisfactory to the Lenders;

     (xxi) a certificate of a Responsible Officer of CSI demonstrating in reasonable detail
that the MEA Restricted Group is in pro forma compliance, as of the four fiscal quarter
period most recently ended and giving effect to the MEA Acquisition and related
transactions, with the covenants relating to the MEA Restricted Group (or any portion
thereof) contained in the GAC Term Loan Facility;

     (xxii) a certificate of a Responsible Officer of CSI as to the financial condition and
solvency of (i) CSI and its Subsidiaries and (ii) the MEA Restricted Group (after giving
effect to the MEA Acquisition and the incurrence of indebtedness related thereto); and

     (xxiii) such other assurances, certificates, documents, consents or opinions as Agent,
the L/C Issuer, Swing Line Lender or the Required Lenders reasonably may require.

     (b) The Lenders shall be satisfied with the capitalization and capital structure of CSI and
its Subsidiaries after giving effect to the MEA Acquisition, including without limitation (x) the
terms and security of the GAC Term Loan Facility and (y) all cash payments, issuances of equity and
capital contributions to be made to or by CSI and its Subsidiaries in connection with the MEA
Acquisition.

     (c) The MEA Acquisition shall have been consummated in accordance with the terms of the Merger
Agreement and in compliance with applicable law and regulatory approvals and the Merger Agreement
shall not have been altered, amended or otherwise changed or supplemented or any condition therein
waived since January 23, 2008, except as provided in the Amendment to the Merger Agreement dated
March 10, 2008, without the prior written consent of the Lenders.

     (d) Any fees required to be paid on or before the Closing Date shall have been paid.

     (e) Unless waived by Agent, Borrower shall have paid all reasonable fees, charges and
disbursements of counsel to Agent to the extent invoiced prior to or on the Closing Date, plus such
additional amounts of such fees, charges and disbursements as shall constitute its reasonable
estimate of such fees, charges and disbursements incurred or to be incurred by it through the
closing proceedings (provided that such estimate shall not thereafter preclude a final
settling of accounts between Borrower and Agent).

     (f) The Closing Date shall have occurred on or before March 31, 2008.

61

 

     Without limiting the generality of the provisions of Section 10.03, for purposes of
determining compliance with the conditions specified in this Section 4.01, each Lender that
has signed this Agreement shall be deemed to have consented to, approved or accepted or to be
satisfied with, each document or other matter required thereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless Agent shall have received notice from such Lender
prior to the proposed Closing Date specifying its objection thereto.

     4.02 Conditions to all Credit Extensions. The obligation of each Lender to honor any Request
for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed
Loans from one Type to the other, or a continuation of Eurodollar Rate Loans) is subject to the
following conditions precedent:

     (a) The representations and warranties of Borrower and each other Loan Party contained in
Article VI or any other Loan Document, or which are contained in any document furnished at
any time under or in connection herewith or therewith, shall be true and correct in all material
respects on and as of the date of such Credit Extension, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be
true and correct in all material respects as of such earlier date, and except that for purposes of
this Section 4.02, the representations and warranties contained in subsections (a)
and (b) of Section 6.05 shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a) and (b), respectively, of Section 7.01.

     (b) No Default shall exist, or would result from such proposed Credit Extension or from the
application of the proceeds thereof.

     (c) Agent and, if applicable, the L/C Issuer or Swing Line Lender shall have received a
Request for Credit Extension in accordance with the requirements hereof.

     Each Request for Credit Extension (other than a Committed Loan Notice requesting only a
conversion of Committed Loans from one Type to the other, or a continuation of Eurodollar Rate
Loans) submitted by Borrower shall be deemed to be a representation and warranty that the
conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of
the date of the applicable Credit Extension.

ARTICLE V.

CSI GUARANTY

     5.01 CSI Guaranty. CSI hereby unconditionally, absolutely, continually and irrevocably
guarantees to Agent, for the benefit of the Benefited Parties, the payment and performance in full
of (a) Borrower’s prompt payment in full, when due or declared due and at all such times, of all
Obligations and all other amounts pursuant to the terms hereof, the Notes, and all other Loan
Documents and all Secured Cash Management Agreements and Secured Hedge Agreements heretofore, now
or at any time or times hereafter owing, arising, due or payable from Borrower to any one or more
of the Benefited Parties, including without limitation principal, interest, premium or fee
(including, but not limited to, loan fees and attorneys’ fees and expenses); and (b) Borrower’s
prompt, full and faithful performance, observance and discharge of each and every agreement,
undertaking, covenant and provision to be performed,

62

 

observed or discharged by Borrower hereunder and under all other Loan Documents (collectively,
the “Guarantor’s Obligations”).

     5.02 Payment. If Borrower shall default in payment or performance of any of the Obligations,
whether principal, interest, premium, fee (including, but not limited to, loan fees and attorneys’
fees and expenses), or otherwise, when and as the same shall become due, whether according to the
terms hereof, by acceleration, or otherwise, or upon the occurrence of any Event of Default
hereunder that has not been cured or waived, then CSI shall, upon demand thereof by Agent or its
successors or assigns as of the date of such demand, fully pay to Agent, for the benefit of the
Benefited Parties, an amount equal to all of the Guarantor’s Obligations then due and owing.

     5.03 Guaranty Absolute. The Guarantee made under this Article V is a Guarantee of
payment and not of collection. The Guarantor’s Obligations shall be absolute and unconditional
irrespective of, and CSI hereby expressly waives, to the extent permitted by law, any defense to
its obligations under this Guarantee by reason of:

     (a) any lack of legality, validity or enforceability of this Agreement, of any of the Notes,
of any other Loan Document, or of any other agreement or instrument creating, providing security
for, or otherwise relating to any of the Guarantor’s Obligations or any other guaranty of any of
Borrower’s Obligations (the Loan Documents and all such other agreements and instruments being
collectively referred to as the “Related Agreements”);

     (b) any action taken under any of the Related Agreements, any exercise of any right or power
therein conferred, any failure or omission to enforce any right conferred thereby, or any waiver of
any covenant or condition therein provided;

     (c) any acceleration of the maturity of any of Borrower’s Obligations or of any other
obligations or liabilities of any Person under any of the Related Agreements;

     (d) any release, exchange, non-perfection, lapse in perfection, disposal, deterioration in
value, or impairment of any security for any of Borrower’s Obligations or for any other obligations
or liabilities of any Person under any of the Related Agreements;

     (e) any dissolution of Borrower or any other party to a Related Agreement, or the combination
or consolidation of Borrower or any other party to a Related Agreement into or with another entity
or any transfer or disposition of any assets of Borrower or any other party to a Related Agreement;

     (f) any extension (including without limitation extensions of time for payment), renewal,
amendment, restructuring or restatement of, any acceptance of late or partial payments under, or
any change in the amount of any borrowings or any credit facilities available under, this
Agreement, any of the Notes or any other Loan Document or any other Related Agreement, in whole or
in part;

     (g) the existence, addition, modification, termination, reduction or impairment of value, or
release of any other guaranty (or security therefor) of Borrower’s Obligations

63

 

(including without limitation obligations arising under any other Guarantee now or hereafter
in effect);

     (h) any waiver of, forbearance or indulgence under, or other consent to any change in or
departure from any term or provision contained in this Agreement, any other Loan Document or any
other Related Agreement, including without limitation any term pertaining to the payment or
performance of any of Borrower’s Obligations or any of the obligations or liabilities of any party
to any other Related Agreement;

     (i) any other circumstance whatsoever (with or without notice to or knowledge of CSI) which
may or might in any manner or to any extent vary the risks of CSI, or might otherwise constitute a
legal or equitable defense available to, or discharge of, a surety or a guarantor, including
without limitation any right to require or claim that resort be had to Borrower or any other Loan
Party or to any collateral in respect of the Borrower’s Obligations or Guarantor’s Obligations,
other than actual repayment in full of the Borrower’s Obligations or the Guarantor’s Obligations.

     It is the express purpose and intent of the parties hereto that the Guarantee made under this
Article V shall be absolute and unconditional under any and all circumstances and shall not
be discharged except by payment as herein provided.

     5.04 Reinstatement. CSI agrees that the Guarantee made under this Article V shall
continue to be effective or be reinstated, as the case may be, at any time payment received by
Agent under this Agreement is rescinded or must be restored for any reason, or is repaid by any
Benefited Party in whole or in part in good faith settlement of any pending or threatened avoidance
claim.

     5.05 Waiver; Subrogation.

     (a) CSI hereby waives notice of the following events or occurrences: (i) the Lenders
heretofore, now or from time to time hereafter making Credit Extensions and issuing Letters of
Credit and otherwise loaning monies or giving or extending credit to or for the benefit of
Borrower, whether pursuant to this Agreement or the Notes or any other Loan Document or any
amendments, modifications, or supplements thereto, or replacements or extensions thereof; (ii) the
Benefited Parties or Borrower heretofore, now or at any time hereafter, obtaining, amending,
substituting for, releasing, waiving or modifying this Agreement, the Notes or any other Loan
Documents; (iii) presentment, demand, default, non-payment, partial payment and protest; (iv) any
Benefited Party heretofore, now or at any time hereafter granting to Borrower (or any other party
liable to the Benefited Parties on account of Borrower’s Obligations) or to any other Guarantor any
indulgence or extensions of time of payment of Borrower’s Obligations, and (v) any Benefited Party
heretofore, now or at any time hereafter accepting from Borrower, any other Guarantor or any other
Person, any partial payment or payments on account of Borrower’s Obligations or any collateral
securing the payment thereof or Agent settling, subordinating, compromising, discharging or
releasing the same. CSI agrees that each Benefited Party may heretofore, now or at any time
hereafter do any or all of the foregoing in such manner, upon such terms and at such times as each
Benefited Party, in its sole and absolute discretion, deems advisable, without in any way or
respect impairing, affecting, reducing or releasing CSI from its

64

 

Guarantor’s Obligations, and CSI hereby consents to each and all of the foregoing events or
occurrences.

     (b) CSI hereby agrees that payment or performance by CSI of the Guarantee made under this
Article V may be enforced by Agent on behalf of the Benefited Parties upon demand by Agent
to CSI without Agent being required, and CSI expressly waives any right it may have to require
Agent, to (i) prosecute collection or seek to enforce or resort to any remedies against Borrower or
any other Guarantor, or (ii) seek to enforce or resort to any remedies with respect to any security
interests, Liens or encumbrances granted to Agent by Borrower, any other Guarantor or any other
Person on account of Borrower’s Obligations or any Guarantee thereof, IT BEING EXPRESSLY
UNDERSTOOD, ACKNOWLEDGED AND AGREED TO BY CSI THAT DEMAND UNDER THIS ARTICLE V MAY BE MADE
BY AGENT, AND THE PROVISIONS HEREOF ENFORCED BY AGENT, EFFECTIVE AS OF THE FIRST DATE ANY EVENT OF
DEFAULT OCCURS AND IS CONTINUING UNDER THIS AGREEMENT. Neither Agent nor any Lender shall have any
obligation to protect, secure or insure any of the foregoing security interests, Liens or
encumbrances on the properties or interests in properties subject thereto.

     (c) CSI further agrees that it shall have no right of subrogation (unless and until the
occurrence of the Facility Termination Date), reimbursement or indemnity, nor any right of recourse
to security for Borrower’s Obligations. This agreement is expressly intended to prevent the
existence of any claim in respect to such reimbursement by CSI against the estate of Borrower
within the meaning of Section 101 of the Bankruptcy Code of the United States, and to prevent CSI
from constituting a creditor of Borrower in respect of such reimbursement within the meaning of
Section 547(b) of the Bankruptcy Code of the United States in the event of a subsequent case
involving Borrower. If an amount shall be paid to CSI on account of such subrogation rights at any
time prior to termination of this Agreement in accordance with the provisions herein, such amount
shall be held in trust for the benefit of the Benefited Parties and shall forthwith be paid to
Agent, for the benefit of the Benefited Parties, to be credited and applied upon Guarantor’s
Obligations, whether matured or unmatured, in accordance with the terms of this Agreement.

     5.06 Set-Off and Waiver. CSI waives any right to assert against Agent or any Lender as a
defense, counterclaim, set-off, recoupment or cross claim in respect of the Guarantor’s
Obligations, any defense (legal or equitable) or other claim which CSI may now or at any time
hereafter have against Borrower or the Benefited Parties without waiving any additional defenses,
set-offs, counterclaims or other claims otherwise available to CSI. If at any time hereafter the
Benefited Parties employ counsel for advice or other representation to enforce any of the
Guarantor’s Obligations that arise out of an Event of Default, then, in any of the foregoing
events, all of the reasonable attorneys’ fees arising from such services and all expenses, costs
and charges in any way or respect arising in connection therewith or relating thereto shall be paid
by CSI to Agent, for the benefit of the Benefited Parties, on demand. CSI agrees that Agent and
each Lender shall have a lien for all Guarantor’s Obligations upon all deposits or deposit
accounts, of any kind, or any interest in any deposits or deposit accounts of any kind, now or
hereafter pledged, mortgaged, transferred or assigned to Agent or such Lender or otherwise in the
possession or control of Agent or such Lender (other than for safekeeping) for any purpose for the
account or benefit of CSI and including any balance of any deposit account or of any

65

 

credit of CSI with Agent or such Lender, whether now existing or hereafter established, hereby
authorizing Agent and each Lender from and after the occurrence of an Event of Default giving rise
to any of Guarantor’s Obligations at any time or times with or without prior notice to apply such
balances or any part thereof to such of Guarantor’s Obligations to the Lenders then past due and in
such amounts as they may elect, and whether or not the collateral or the responsibility of other
Persons primarily, secondarily or otherwise liable may be deemed adequate. For the purposes of
this Section 5.06, all remittances and property shall be deemed to be in the possession of
Agent or such Lender as soon as the same may be put in transit to it by mail or carrier or by other
bailee.

ARTICLE VA.

SECURITY

     5A.01 Security. As security for the full and timely payment and performance of all
Obligations, the Loan Parties shall do or cause to be done all things necessary in the reasonable
opinion of the Agent to grant to the Agent for the benefit of the Lenders, a duly perfected first
priority mortgage and assignment of leases and rents on each Pledged Property (and all
improvements, fixtures, and other appurtenances thereto in which the applicable Loan Party has an
interest, as may be provided in the Mortgage for such Pledged Property) and a duly perfected first
priority security interest in all of the applicable Loan Party’s now owned or hereafter acquired
personal property related to such Pledged Property (as may be provided in the Mortgage for such
Pledged Property), subject in each case to no prior Lien or other encumbrance or restriction on
transfer (other than restrictions on transfer imposed by applicable securities laws), other than
Permitted Encumbrances.

     5A.02 Further Assurances. At the request of the Agent, the Borrower will or will cause any
Guarantor, as the case may be to execute, by its duly authorized officers, alone or with the Agent,
any certificate, instrument, statement or document, or to procure any such certificate, instrument,
statement or document, or to take such other action (and pay all connected costs) which the Agent
reasonably deems necessary from time to time to create, continue or preserve the liens and security
interests in the Collateral (and the perfection and priority thereof) of the Agent contemplated
hereby and by the other Loan Documents.

     5A.03 Information Regarding Collateral. The Borrower represents, warrants and covenants that
the chief executive office of the Borrower and each other Person providing Collateral pursuant to
any of the Security Instruments (each, a “Grantor”) at the Closing Date is located at the
address or addresses specified on Schedule 5A.03. The Borrower shall not change, or permit
any other Grantor to change, the location of its chief executive office except upon giving not less
than thirty (30) days’ prior written notice to the Agent and taking or causing to be taken all such
action at the Borrower’s or such other Grantor’s expense as may be reasonably requested by the
Agent to perfect or maintain the perfection of the Lien of the Agent in any Collateral.

     5A.04 Borrowing Base. (a) Any Eligible Property may become a Pledged Property and be included
in the Borrowing Base as of the Closing Date upon receipt by the Agent of an executed Mortgage
encumbering such Eligible
Property and (A) a pro forma Compliance Certificate giving effect to the inclusion of such
Eligible Property in the Borrowing Base,

66

 

including a calculation of annualized Net Operating Income
for such Property; (B) an Available Amount Certificate; (C) historical (to the extent such Property
has been operational for a calendar quarter or more) and pro forma operating statements and
occupancy reports (to the extent such statements or reports exist, the Borrower hereby
acknowledging that the absence of such statements or reports may impair the ability to obtain
Required Lender approval) with respect to such Eligible Property; (D) a Phase I environmental
assessment (and, if required or recommended by the results of the Phase I environmental assessment,
a Phase II environmental assessment) with respect to such Eligible Property; (E) a site plan and
as-built survey and certificates as to federally designated flood zones with respect to such
Eligible Property; (F) a title insurance commitment for an ALTA loan title insurance policy with
respect to such Eligible Property in an amount acceptable to the Agent insuring the lien of the
Mortgage encumbering such Eligible Property, or the Ground Lease leasehold estate of the Grantor in
the Eligible Property, as applicable, and reflecting no title exceptions other than the Permitted
Encumbrances; (G) an appraisal of such Eligible Property by a Qualified Appraiser, which appraisal
shall be prepared in accordance with the requirements set forth in Schedule 5A.04 hereto,
ordered by the Agent (in the name of and at the sole expense of the Borrower); (H) an Eligible
Property Compliance Certificate for such Eligible Property, satisfactory to the Agent; (I) evidence
of insurance for such Eligible Property as required under the Mortgage for such Eligible Property;
(J) a general description of such Eligible Property’s location and features; (K) a Uniform
Commercial Code search showing no Liens on such Eligible Property other than the Permitted
Encumbrances; and (L) any other Real Property Support Documents for such Eligible Property as may
be required by Agent. In the case of Eligible Properties requested to be included in the Borrowing
Base after the Closing Date, the Agent shall make its determination as to the inclusion in the
Borrowing Base of such Eligible Property qualifying as such by compliance with items (a)-(f) of the
definition of “Eligible Property” within 10 Business Days of receipt by the Agent of the Borrower’s
request therefor together with the documentation described in this Section 5A.04. The
Required Lenders shall make their determination as to the inclusion in the Borrowing Base of any
such Eligible Property qualifying as such under item (g) of the definition of “Eligible Property”
within 15 Business Days of receipt from the Agent of copies of the Borrower’s request therefor
together with the documentation described in this Section 5A.04. Upon the approval by the
Agent (or the Required Lenders, as applicable) of the inclusion of such Eligible Property in the
Borrowing Base, the Borrower or applicable Loan Party shall execute or cause to be executed the
Mortgage with respect to such Eligible Property. Upon (a) execution, delivery and recordation, as
applicable, of the Mortgage and the Lease Party Documents relating to such Eligible Property and
any other documents required by the Agent, (b) delivery of a loan title insurance policy in form
and substance reasonably satisfactory to Agent and insuring the lien of the Mortgage as described
above, (c) delivery of a favorable opinion of local counsel to the Grantor under the Mortgage in
the state where such Eligible Property is located, in the form of Exhibit K and addressed
to the Agent and each Lender, as to such matters concerning such Grantor and the Loan Documents as
the Agent may reasonably request, (d) delivery of Uniform Commercial Code financing statements and
fixture filings suitable in form and substance for filing in all places required by applicable Law
to perfect the Liens of the Agent under such Mortgage and other Security Instruments related to
such Eligible Property as a first priority Lien (subject only to Permitted Encumbrances) as to
items of Collateral in which a security interest may be
perfected by the filing of financing statements or fixture filings, and such other documents
and/or evidence of other actions as may be necessary

67

 

under applicable Law to perfect the Liens of
the Agent under the Mortgage and other Security Instruments related to such Eligible Property as a
first priority Lien in and to such other Collateral as the Agent may require, and (e) delivery of
the Grantor Authority Documents for the Grantor executing such Mortgage, such Eligible Property
shall become a part of the Borrowing Base (for so long as it maintains the criteria of eligibility
set forth in the definition of “Eligible Property”) and the Borrower shall deliver to the Agent an
updated Schedule 5A.04. reflecting such additional Pledged Property.

     (b) Upon request of the Borrower, the Mortgage for any Pledged Property may be terminated and
discharged and such Pledged Property released provided: (i) funds are delivered to the Agent for
the prepayment of Loans as provided in Section 2.05(a); (ii) the Borrower delivers to the
Agent a pro forma Compliance Certificate and a pro forma Available Amount Certificate giving effect
to such release; (iii) the Borrower delivers to the Agent an updated Schedule 5A.04
reflecting the release of such Pledged Property; and (iv) no Default or Event of Default has
occurred or is continuing. All reasonable costs, expenses and attorneys’ fees incurred by the
Agent or the Trustee under the Mortgage in connection with the release of any Pledged Property
pursuant to this Section 5A.04(b) shall be reimbursed by the Borrower pursuant to
Section 11.04(a) hereof. No Pledged Property will be released from the applicable Mortgage
until the Agent has received the amount of funds, if any, required by this Section
5A.04(b), together with any amounts required, if any, owing under Section 3.05.

     (c) In the event that there shall be made any Additions or Enhancements to a Borrowing Base
Property, which Additions or Enhancements have a cost or value (as evidenced in writing in a form
and manner satisfactory to the Agent) in excess of the lesser of (i) $2,500,000 or (ii) 20% of the
Appraised Value (without giving effect to such Additions or Enhancements) of such Borrowing Base
Property, the Borrower shall deliver to the Agent, not later than 30 Business Days after completion
of such Addition or Enhancement, (A) if the Additions or Enhancements include additional real
property (either leased or in fee), a modification to the related Mortgage amending the legal
description of such Borrowing Base Property to include such additional real property; (B) an
endorsement to the existing title insurance policy covering such Borrowing Base Property adding the
Additions or Enhancements to the description of the insured property (if the Additions or
Enhancements include additional real property), increasing the amount of such title insurance to
reflect the increase in value and updating the time and date of such policy to the time and date of
recording of the modification to the related Mortgage described in (A) above and reflecting no
title exceptions other than Permitted Encumbrances.

     (d) For purposes of calculating the Appraised Value of the Pledged Properties included in the
Borrowing Base, the Borrower shall comply with the Appraisal Requirements set forth in Schedule
5A.04 attached hereto. The Lenders agree that the Agent and the Borrower may from time to time
modify or amend the Appraisal Requirements so long as such modification or amendment does not
adversely affect the interest of the Lenders hereunder.

     (e) Prior to any increase, through the operation of Section 2.14, in the Aggregate
Commitments that would cause the Aggregate Commitments to exceed $150,000,000, the Borrower (i)
shall cause to be recorded Mortgage modifications (A) increasing the maximum
amount secured under the Security Instruments to such increased amount, (ii) shall obtain
either

68

 

(A) new title insurance policies insuring such Mortgages reflecting the appropriate coverage
and insuring the first priority of such Mortgage, subject only to Permitted Encumbrances or (B)
endorsements to each of the original title insurance policies insuring such Mortgages updating the
time and date of coverage to the date and time of recording such Mortgage modification and insuring
the continued first priority of such Mortgage, subject only to the Permitted Encumbrances and (iii)
shall deliver to the Agent such other documents (including title endorsements and Grantor Authority
Documents) as may be reasonably required by the Agent and the title insurer.

ARTICLE VI.

REPRESENTATIONS AND WARRANTIES

     Each of CSI and Borrower represent and warrant to Agent and the Lenders that:

     6.01 Existence, Qualification and Power; Compliance with Laws. Each Loan Party and each
Subsidiary thereof (a) is duly organized or formed, validly existing and in good standing under the
Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and
authority and all requisite governmental licenses, authorizations, consents and approvals to (i)
own or lease its assets and carry on its business and (ii) execute, deliver and perform its
obligations under the Loan Documents to which it is a party, (c) is duly qualified and is licensed
and in good standing under the Laws of each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification or license, and (d) is in
compliance with all Laws; except in each case referred to in clause (b)(i), (c) or
(d), to the extent that failure to do so could not reasonably be expected to have a
Material Adverse Effect.

     6.02 Authorization; No Contravention. The execution, delivery and performance by each Loan
Party of each Loan Document to which such Person is party, have been duly authorized by all
necessary corporate or other organizational action, and do not and will not (a) contravene the
terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach or
contravention of, or the creation of any Lien under, or require any payment to be made under (i)
any Contractual Obligation to which such Person is a party or affecting such Person or the
properties of such Person or any of its Subsidiaries or (ii) any order, injunction, writ or decree
of any Governmental Authority or any arbitral award to which such Person or its property is
subject; or (c) violate any Law. Each Loan Party and each Subsidiary thereof is in compliance with
all Contractual Obligations referred to in clause (b)(i), except to the extent that failure
to do so could not reasonably be expected to have a Material Adverse Effect.

     6.03 Governmental Authorization; Other Consents. No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority or any
other Person is necessary or required in connection with the execution, delivery or performance by,
or enforcement against, any Loan Party of this Agreement or any other Loan Document.

     6.04 Binding Effect. This Agreement has been, and each other Loan Document, when delivered
hereunder, will have been, duly executed and delivered by each Loan Party that is
party thereto. This Agreement constitutes, and each other Loan Document when so delivered

69

 

will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each
Loan Party that is party thereto in accordance with its terms.

     6.05 Financial Statements; No Material Adverse Effect. (a) The Audited Financial Statements
(i) were prepared in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition
of CSI and its Subsidiaries as of the date thereof and their results of operations for the period
covered thereby in accordance with GAAP consistently applied throughout the period covered thereby,
except as otherwise expressly noted therein; and (iii) show all material indebtedness and other
liabilities, direct or contingent, of CSI and its Subsidiaries as of the date thereof, including
liabilities for taxes, material commitments and Indebtedness.

     (b) The unaudited consolidated balance sheets of CSI and its Subsidiaries dated December 31,
2007 and the related consolidated statements of income or operations, shareholders’ equity and cash
flows for the fiscal quarter ended on that date (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted
therein, and (ii) fairly present the financial condition of CSI and its Subsidiaries as of the date
thereof and their results of operations for the period covered thereby, subject, in the case of
clauses (i) and (ii), to the absence of footnotes and to normal year-end audit
adjustments.

     (c) [Reserved.]

     (d) Since the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could reasonably be expected
to have a Material Adverse Effect.

     6.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to
the knowledge of CSI and Borrower after due and diligent investigation, threatened or contemplated,
at law, in equity, in arbitration or before any Governmental Authority, by or against CSI or any of
its Subsidiaries or against any of their properties or revenues that (a) purport to affect or
pertain to this Agreement or any other Loan Document, or any of the transactions contemplated
hereby, or (b) except as specifically disclosed in Schedule 6.06, either individually or in
the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse
Effect, and there has been no adverse change in the status, or financial effect on any Loan Party
or any Subsidiary thereof, of the matters described on Schedule 6.06.

     6.07 No Default. Neither CSI, Borrower nor any Subsidiary is in default under or with respect
to any Contractual Obligation that could, either individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. No Default has occurred and is continuing or would
result from the consummation of the transactions contemplated by this Agreement or any other Loan
Document.

     6.08 Ownership of Property; Liens. Each of CSI, Borrower and each Subsidiary has good record
and marketable title in fee simple to, or valid leasehold interests in, all real property necessary
or used in the ordinary conduct of its business, except for such defects in title as could
not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.

70

 

The property of Borrower and its Subsidiaries is subject to no Liens, other than Liens
permitted by Section 8.01.

     6.09 Environmental Compliance. CSI, Borrower and each Subsidiary conduct in the ordinary
course of business a review of the effect of existing Environmental Laws and claims alleging
potential liability or responsibility for violation of any Environmental Law on their respective
businesses, operations and properties, and as a result thereof Borrower has reasonably concluded
that, except as specifically disclosed in Schedule 6.09, such Environmental Laws and claims
could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.

     6.10 Insurance. The properties of CSI, Borrower and each Subsidiary are insured with
financially sound and reputable insurance companies not Affiliates of CSI, in such amounts (after
giving effect to any self-insurance compatible with the following standards), with such deductibles
and covering such risks as are customarily carried by companies engaged in similar businesses and
owning similar properties in localities where Borrower or the applicable Subsidiary operates.

     6.11 Taxes. CSI, Borrower and each Subsidiary have filed all United States Federal and state
income and other material tax returns and reports required to be filed, and have paid all United
States Federal and state income and other material taxes, assessments, fees and other governmental
charges levied or imposed upon them or their properties, income or assets otherwise due and
payable, except those which are being contested in good faith by appropriate proceedings diligently
conducted and for which adequate reserves have been provided in accordance with GAAP. There is no
proposed tax assessment against CSI, Borrower or any Subsidiary that would, if made, have a
Material Adverse Effect.

     6.12 ERISA Compliance. (a) Each Plan is in compliance in all material respects with the
applicable provisions of ERISA, the Code and other United States Federal or state Laws. Each Plan
that is intended to qualify under Section 401(a) of the Code has received a favorable determination
letter from the IRS or an application for such a letter is currently being processed by the IRS
with respect thereto and, to the best knowledge of CSI and Borrower, nothing has occurred which
would prevent, or cause the loss of, such qualification. CSI, Borrower and each ERISA Affiliate
have made all required contributions to each Plan subject to Section 412 of the Code, and no
application for a funding waiver or an extension of any amortization period pursuant to Section 412
of the Code has been made with respect to any Plan.

     (b) There are no pending or, to the best knowledge of CSI and Borrower, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could
reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction
or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or
could reasonably be expected to result in a Material Adverse Effect.

     (c) (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan
has any Unfunded Pension Liability; (iii) neither CSI, Borrower nor any ERISA Affiliate has
incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to any
Pension Plan (other than premiums due and not delinquent under Section 4007 of
ERISA); (iv) neither CSI, Borrower nor any ERISA Affiliate has incurred, or reasonably expects

71

 

to incur, any liability (and no event has occurred which, with the giving of notice under Section
4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to
a Multiemployer Plan; and (v) neither CSI, Borrower nor any ERISA Affiliate has engaged in a
transaction that could be subject to Sections 4069 or 4212(c) of ERISA.

     6.13 Subsidiaries. As of the Closing Date, neither CSI nor Borrower has any Subsidiaries
other than those specifically disclosed in Part (a) of Schedule 6.13, and all of the
outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and
nonassessable and are owned by a Loan Party in the amounts specified on Part (a) of Schedule
6.13 free and clear of all Liens. Neither CSI nor Borrower has any equity investments in any
other corporation or entity other than those specifically disclosed in Part (b) of Schedule
6.13. All of the outstanding Partnership Units in Borrower have been validly issued and are
fully paid and nonassessable. As of the Closing Date, the Excluded Subsidiaries are those entities
described in Part (c) of Schedule 6.13 and the members of the MEA Restricted Group are
those entities described in Part (d) of Schedule 6.13.

     6.14 Margin Regulations; Investment Company Act. Neither CSI nor Borrower is engaged nor will
engage, principally or as one of its important activities, in the business of purchasing or
carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit
for the purpose of purchasing or carrying margin stock.

     6.15 Disclosure. Each of CSI and Borrower have disclosed to Agent and Lenders all agreements,
instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject,
and all other matters known to it, that, individually or in the aggregate, could reasonably be
expected to result in a Material Adverse Effect. No report, financial statement, certificate or
other information furnished (whether in writing or orally) by or on behalf of any Loan Party to
Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of
this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified
or supplemented by other information so furnished) contains any material misstatement of fact or
omits to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided that, with respect to
projected financial information, Borrower represents only that such information was prepared in
good faith based upon assumptions believed to be reasonable at the time.

     6.16 Compliance with Laws. Each of CSI, Borrower and each Subsidiary is in compliance in all
material respects with the requirements of all Laws and all orders, writs, injunctions and decrees
applicable to it or to its properties, except in such instances in which (a) such requirement of
Law or order, writ, injunction or decree is being contested in good faith by appropriate
proceedings diligently conducted or (b) the failure to comply therewith, either individually or in
the aggregate, could not reasonably be expected to have a Material Adverse Effect.

     6.17 Intellectual Property; Licenses, Etc. CSI, Borrower and each Subsidiary owns, or
possesses the right to use, all of the trademarks, service marks, trade names, copyrights, patents,
patent rights, franchises, licenses and other intellectual property rights that are reasonably
necessary for the operation of their respective businesses, without conflict with the
rights of any other Person. To the best knowledge of CSI and Borrower, no slogan or other

72

 

advertising device, product, process, method, substance, part or other material now employed, or
now contemplated to be employed, by CSI, the Borrower or any Subsidiary infringes upon any rights
held by any other Person. No claim or litigation regarding any of the foregoing is pending or, to
the best knowledge of CSI or Borrower, threatened, which, either individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect.

     6.18 Solvency. On and after the Closing Date, Borrower, individually, and the Borrower and
the Guarantors, taken as a whole, are Solvent, measured after giving effect to all Borrowings under
this Agreement on the Closing Date and thereafter.

     6.19 REIT Status. CSI has done all things necessary to qualify as a REIT, has been organized
in conformity with the requirements for qualification as a REIT and its method of operation as
described in the Registration Statement will permit it to meet the requirements for qualification
and taxation as an REIT.

     6.20 Ground Leases; Appraised Value; Net Operating Income. (a) Each of the Ground Leases is
in full force and effect and the Borrower, CSI and each Guarantor is in compliance with all of the
terms and conditions of such Ground Leases; none of the Ground Leases have been amended or
modified, except as expressly permitted under the applicable Ground Lessor Agreement or this
Agreement, or as otherwise permitted by the Agent, since the date of the Eligible Property
Compliance Certificate for the Pledged Property to which it relates; and neither the Borrower nor
CSI has any information which leads it to believe that the Appraised Value of the Pledged
Properties as set forth on Schedule 5A.04 is higher than it should be; and

     (b) To the best knowledge of CSI, the Borrower and each Subsidiary, with respect to each
Borrowing Base Property, since the date of the most recent Available Amount Certificate, no event
has occurred or condition exists that could reasonably be expected to have a material adverse
effect upon the Appraised Value or Net Operating Income of such Borrowing Base Property.

ARTICLE VII.

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, CSI
and Borrower, as applicable, shall, and shall (except in the case of the covenants set forth in
Sections 7.01, 7.02, 7.03 and 7.12) cause each Subsidiary (other
than Excluded Subsidiaries) to:

     7.01 Financial Statements. Deliver to Agent a sufficient number of copies for delivery by
Agent to each Lender, in form and detail satisfactory to Agent and the Required Lenders:

     (a) not later than five days following the filing of CSI’s Form 10-K with the SEC for each
fiscal year of CSI, but in any event within 90 days after the end of each fiscal year of CSI, a
consolidated balance sheet of CSI and its Subsidiaries as at the end of such fiscal year, and the
related consolidated statements of income or operations, shareholders’ equity and cash flows
for

73

 

such fiscal year, certified by the chief executive officer or the chief financial officer of
CSI as fairly presenting the financial condition of CSI and its Subsidiaries and setting forth in
each case in comparative form the figures for the previous fiscal year, all in reasonable detail
and prepared in accordance with GAAP, audited and accompanied by (i) a report and opinion of an
independent certified public accounting firm of nationally recognized standing reasonably
acceptable to the Required Lenders, which report and opinion shall be prepared in accordance with
generally accepted auditing standards and shall not be subject to any “going concern” or like
qualification or exception or any qualification or exception as to the scope of such audit and (ii)
an attestation report of such independent certified public accounting firm as to CSI’s internal
controls pursuant to Section 404 of Sarbanes-Oxley expressing a conclusion to which the Required
Lenders do not object; and

     (b) not later than five days following the filing of CSI’s Form 10-Q with the SEC for the
first three fiscal quarters of each fiscal year of CSI, but in any event within 45 days after the
end of each of the first three fiscal quarters of each fiscal year of CSI, a consolidated balance
sheet of CSI and its Subsidiaries as at the end of such fiscal quarter, and the related
consolidated statements of income or operations, shareholders’ equity and cash flows for such
fiscal quarter and for the portion of CSI’s fiscal year then ended, setting forth in each case in
comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and
the corresponding portion of the previous fiscal year, all in reasonable detail, certified by the
chief executive officer or the chief financial officer of CSI as fairly presenting the financial
condition, results of operations, shareholders’ equity and cash flows of CSI and its Subsidiaries
in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of
footnotes.

     As to any information contained in materials furnished pursuant to Section 7.02(d),
neither CSI nor the Borrower shall be separately required to furnish such information under clause
(a) or (b) above, but the foregoing shall not be in derogation of the obligation of CSI and the
Borrower to furnish the information and materials described in clauses (a) and (b) above at the
times specified therein.

     7.02 Certificates; Other Information. Deliver to Agent a sufficient number of copies for
delivery by Agent to each Lender, in form and detail satisfactory to Agent and the Required
Lenders:

     (a) concurrently with the delivery of the financial statements referred to in Section
7.01(a), (i) a certificate of CSI’s independent certified public accountants certifying such
financial statements and stating that in making the examination necessary therefor no knowledge was
obtained of any Default under the financial covenants set forth herein or, if any such Default
shall exist, stating the nature and status of such event and (ii) an annual forecast of the
consolidated statements of income and operations and cash flows for CSI and its Subsidiaries,
together with a break-out of such statements with respect to the MEA Restricted Group;

     (b) concurrently with the delivery of the financial statements referred to in Sections
7.01(a) and (b):

     (i) a duly completed Compliance Certificate and a duly completed Available Amount
Certificate, each signed by the chief financial officer of CSI;

74

 

     (ii) a duly completed statement of Funds From Operations of Borrower; and

     (iii) a duly completed report of newly acquired Properties by Borrower and any
Subsidiary, including each such Property’s net operating income, cost, and mortgage debt, if
any;

     (c) promptly after any request by Agent or any Lender, copies of any detailed audit reports,
management letters or recommendations submitted to the board of directors (or the audit committee
of the board of directors) of CSI by independent accountants in connection with the accounts or
books of CSI or any Subsidiary, or any audit of any of them;

     (d) promptly after the same are available, copies of each annual report, proxy or financial
statement or other report or communication sent to the stockholders of CSI, and copies of all
annual, regular, periodic and special reports and registration statements which CSI may file or be
required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, and
not otherwise required to be delivered to Agent pursuant hereto;

     (e) promptly after the furnishing thereof, copies of any statement or report furnished to any
holder of debt securities of any Loan Party or any Subsidiary thereof pursuant to the terms of any
indenture, loan or credit or similar agreement and not otherwise required to be furnished to the
Lenders pursuant to Section 7.01 or any other clause of this Section 7.02;

     (f) promptly, and in any event within five Business Days after receipt thereof by any Loan
Party or any Subsidiary thereof, copies of each notice or other correspondence received from the
SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or
possible investigation or other inquiry by such agency regarding financial or other operational
results of any Loan Party or any Subsidiary thereof;

     (g) promptly, such additional information regarding the business, financial or corporate
affairs of Borrower, any Loan Party or any Subsidiary (including but not limited to the MEA
Restricted Group), or compliance with the terms of the Loan Documents, as Agent or any Lender may
from time to time reasonably request;

     (h) promptly upon commencement of any Addition or Enhancement, information regarding the
Borrowing Base Property to which such Addition or Enhancement relates, the expected cost and
completion date of such Addition or Enhancement and such other information regarding such Addition
or Enhancement or the Agent may reasonably request;

     (i) promptly, and in any event simultaneously with the delivery thereof to or on behalf of the
GAC Lenders, copies of all annual and interim financial statements, certificates or other
information furnished to or on behalf of the GAC Lenders under the GAC Term Loan Facility;

     (j) promptly, and in any event within one Business Day after receipt thereof by any Loan Party
or any Subsidiary thereof (including GAC), copies of each notice or other
correspondence received from the administrative agent under the GAC Term Loan Facility
relating to a default, event of default, invocation of the default rate, or invocation of any right
or remedy or lien on such Loan Party’s or Subsidiary’s assets; and

75

 

     (k) promptly, and in any event within five Business Days after receipt thereof by any Loan
Party or any Subsidiary thereof (including GAC), copies of each notice or other correspondence
received from the administrative agent under the GAC Term Loan Facility which is not governed by
paragraph (j) above.

     Documents required to be delivered pursuant to Section 7.01(a) or (b) or
Section 7.02(d) (to the extent any such documents are included in materials otherwise filed
with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (i) on which CSI posts such documents, or provides a link thereto on CSI’s
website on the Internet at the website address listed on Schedule 11.02; or (ii) on which
such documents are posted on CSI’s behalf on an Internet or intranet website, if any, to which each
Lender and the Agent have access (whether a commercial, third-party website or whether sponsored by
the Agent); provided that: (i) CSI shall deliver paper copies of such documents to the
Agent or any Lender that requests CSI to deliver such paper copies until a written request to cease
delivering paper copies is given by the Agent or such Lender and (ii) CSI shall notify the Agent
and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide
to the Agent by electronic mail electronic versions (i.e., soft copies) of such documents.
Notwithstanding anything contained herein, in every instance CSI shall be required to provide paper
copies of the Compliance Certificates required by Section 7.02(b) to the Agent. Except for
such Compliance Certificates, the Agent shall have no obligation to request the delivery or to
maintain copies of the documents referred to above, and in any event shall have no responsibility
to monitor compliance by CSI with any such request for delivery, and each Lender shall be solely
responsible for requesting delivery to it or maintaining its copies of such documents.

     Borrower hereby acknowledges that (a) Agent and/or Arranger will make available to Lenders and
the L/C Issuer materials and/or information provided by or on behalf of Borrower hereunder
(collectively, “Borrower Materials”) by posting Borrower Materials on IntraLinks or another
similar electronic system (the “Platform”) and (b) certain of the Lenders may be
“public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information
with respect to Borrower or its securities) (each, a “Public Lender”). Borrower hereby
agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be
clearly and conspicuously marked “PUBLIC” so long as Borrower is the issuer of any outstanding debt
or equity securities that are registered or issued pursuant to a private offering or is actively
contemplating issuing any such securities which, at a minimum, shall mean that the word “PUBLIC”
shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC”,
Borrower shall be deemed to have authorized Agent, Arranger, the L/C Issuer and the Lenders to
treat such Borrower Materials as not containing any material non-public information with respect to
Borrower or its securities for purposes of United States Federal and state securities laws
(provided, however, that to the extent such Borrower Materials constitute
Information, they shall be treated as set forth in Section 11.07); (y) all Borrower
Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform
designated “Public Investor”; and (z) Agent and Arranger shall be entitled to treat any Borrower
Materials that are not marked “PUBLIC” as being suitable only for posting on a
portion of the Platform not designated “Public Investor”. Notwithstanding the foregoing,
Borrower shall be under no obligation to mark any Borrower Materials “PUBLIC”.

76

 

     7.03 Notices. Promptly notify Agent and each Lender:

     (a) of the occurrence of any Default;

     (b) of any matter that has resulted or could reasonably be expected to result in a Material
Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual
Obligation of CSI, Borrower or any Subsidiary; (ii) any dispute, litigation, investigation,
proceeding or suspension between CSI, Borrower or any Subsidiary and any Governmental Authority; or
(iii) the commencement of, or any material development in, any litigation or proceeding affecting
CSI, Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws;

     (c) of the occurrence of any ERISA Event;

     (d) of any material change in accounting policies or financial reporting practices by CSI,
Borrower or any Subsidiary; and

     (e) of the occurrence of any Internal Control Event.

Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer
of Borrower setting forth details of the occurrence referred to therein and stating what action
Borrower has taken and proposes to take with respect thereto. Each notice pursuant to Section
7.03(a) shall describe with particularity any and all provisions of this Agreement and any
other Loan Document that have been breached.

     7.04 Payment of Obligations. Pay and discharge as the same shall become due and payable, all
its obligations and liabilities, including (a) all tax liabilities, assessments and governmental
charges or levies upon it or its properties or assets, unless the same are being contested in good
faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP
are being maintained by CSI, Borrower or such Subsidiary; (b) all lawful claims which, if unpaid,
would by law become a Lien upon its property; and (c) all Indebtedness, as and when due and
payable, but subject to any subordination provisions contained in any instrument or agreement
evidencing such Indebtedness.

     7.05 Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and
effect its legal existence and good standing under the Laws of the jurisdiction of its organization
except in a transaction permitted by Section 8.04 or 8.05; (b) take all reasonable
action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable
in the normal conduct of its business, except to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its
registered patents, trademarks, trade names and service marks, the non-preservation of which could
reasonably be expected to have a Material Adverse Effect.

     7.06 Maintenance of Properties. (a) Maintain, preserve and protect all of its material
properties and equipment necessary in the operation of its business in good working order and
condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and
renewals and replacements thereof except where the failure to do so could not reasonably be
expected to

77

 

have a Material Adverse Effect; and (c) use the standard of care typical in the
industry in the operation and maintenance of its facilities.

     7.07 Maintenance of Insurance. Maintain with financially sound and reputable insurance
companies that are not Affiliates of CSI, insurance with respect to its properties and business
against loss or damage of the kinds customarily insured against by Persons engaged in the same or
similar business, of such types and in such amounts (after giving effect to any self-insurance
compatible with the following standards) as are customarily carried under similar circumstances by
such other Persons and providing for not less than 30 days’ prior notice to Agent of termination,
lapse or cancellation of such insurance.

     7.08 Compliance with Laws. Comply in all material respects with the requirements of all Laws
and all orders, writs, injunctions and decrees applicable to it or to its business or property,
except in such instances in which (a) such requirement of Law or order, write, injunction or decree
is being contested in good faith by appropriate proceedings diligently conducted; or (b) the
failure to comply therewith could not reasonably be expected to have a Material Adverse Effect.

     7.09 Books and Records. (a) Maintain proper books of record and account, in which full, true
and correct entries in conformity with GAAP consistently applied shall be made of all financial
transactions and matters involving the assets and business of CSI, Borrower or such Subsidiary, as
the case may be; and (b) maintain such books of record and account in material conformity with all
applicable requirements of any Governmental Authority having regulatory jurisdiction over CSI,
Borrower or such Subsidiary, as the case may be.

     7.10 Inspection Rights. Permit representatives and independent contractors of Agent and each
Lender to visit and inspect any of its properties, to examine its corporate, financial and
operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs,
finances and accounts with its directors, officers, and independent public accountants, all at the
expense of and at such reasonable times during normal business hours Borrower (but no more than two
times during any 12 month period so long as no Event of Default shall have occurred and be
continuing), upon reasonable advance notice to Borrower; provided, however, that
when an Event of Default exists Agent or any Lender (or any of their respective representatives or
independent contractors) may do any of the foregoing at the expense of Borrower at any time during
normal business hours and without advance notice, subject to the terms of any tenant leases and
Lease Party Documents applicable to such property.

     7.11 Use of Proceeds. Use the proceeds of the Credit Extensions (a) for working capital and
general corporate purposes, (b) to finance acquisitions and development activity and (c) to
refinance existing and future indebtedness, including but not limited indebtedness outstanding
under the Existing Credit Agreement; provided, however, that no proceeds of the
Credit Extensions shall be used to fund (x) any more than $75,000,000 of the cost of the MEA
Acquisition (including transaction costs) or (y) any payment, prepayment or refinancing of or in
respect of the GAC Term Loan Facility or any other investment in or loan or advance to the MEA
Restricted Group.

78

 

     7.12 Financial Covenants.

     (a) Total Leverage Ratio. Maintain at all times a Total Leverage Ratio of 0.70:1.00
or less. Unless otherwise requested by the Agent, this ratio will be calculated for reporting
purposes at the end of each reporting period for which this Agreement requires delivery of
financial statements.

     (b) Real Estate Leverage Ratio. Maintain at all times a Real Estate Leverage Ratio of
0.70:1.00 or less. Unless otherwise requested by the Agent, this ratio will be calculated for
reporting purposes at the end of each reporting period for which this Agreement requires delivery
of financial statements.

     (c) Fixed Charge Coverage Ratio. Maintain as of the end of each fiscal quarter of CSI
a ratio of Consolidated Adjusted EBITDA to Consolidated Fixed Charges of at least 1.50:1.0. This
ratio will be calculated at the end of each reporting period for which this Agreement requires
delivery of financial statements, using the results of the four consecutive fiscal quarter period
of CSI ending with that reporting period.

     (d) Consolidated Tangible Net Worth. Maintain at all times Consolidated Tangible Net
Worth equal to at least the sum of the following:

     (i) sixty-five million Dollars ($65,000,000); plus

     (ii) the sum of 85% of Net Proceeds of Equity Issuances issued after the Closing Date.

     (e) Total Debt to Real Estate Value Ratio. Maintain at all times a Total Debt to Real
Estate Asset Value Ratio of 0.90 to 1.00 or less. Unless otherwise requested by the Agent, this
ratio will be calculated for reporting purposes at the end of each reporting period for which this
Agreement requires delivery of financial statements.

     7.13 Additional Guarantors. Notify Agent at the time that any Person becomes a Material
Subsidiary, and promptly thereafter (and in any event within the earlier to occur of (x) 30 days or
(y) the date on which such Subsidiary becomes a guarantor of the GAC Term Loan Facility to the
extent not part of the MEA Restricted Group), cause such Person to (a) become a Guarantor by
executing and delivering to Agent a counterpart of the Guaranty Joinder Agreement or such other
document as Agent shall deem appropriate for such purpose, and (b) deliver to Agent documents of
the types referred to in clauses (iii) and (iv) of Section 4.01(a) and
favorable opinions of counsel to such Person (which shall cover, among other things, the legality,
validity, binding effect and enforceability of the documentation referred to in clause (a)
against such Person), all in form, content and scope reasonably satisfactory to Agent.

     7.14 REIT Qualification; Listing on Securities Exchange. Subject to the limitations set forth
in Section 8.06, with respect to CSI, do all things required or necessary to (a) qualify as
and maintain its qualification as a REIT and obtain, at Agent’s request but only to the extent that
an Event of Default has occurred and is continuing, an opinion of counsel acceptable to Agent as to
CSI’s status as a REIT and as to CSI’s power and authority to conduct its business as a REIT
and (b) maintain a listing on any securities exchange that has registered with the SEC under
Section 6 of the Securities Exchange Act of 1934, as amended.

79

 

     7.15 Ownership of Borrower and GAC. With respect to CSI, ensure that CS Business Trust I
(unless CSI (or a successor to CS Business Trust I that is wholly-owned by CSI and is a Guarantor)
is the sole general partner of the Borrower) remains the sole general partner of Borrower and own
not less than 1% of the Partnership Units of Borrower, and (b) with respect to CSI (i) be, or own
100% of the Equity Interests of, the general partner of the Borrower, and (ii) Control the
Borrower. With respect to GAC, ensure that it remain a direct or indirect wholly-owned Subsidiary
of CSI.

     7.16 Delivery of Guarantor Certificates, Opinions, etc. Promptly, and in any event within 30
days of the Closing Date, deliver to Agent with respect to CS Business Trust I, CS Business Trust
II and each Subsidiary Guarantor, the following, each of which shall be originals, each properly
executed by a Responsible Officer of each such Person and each in form and substance satisfactory
to Agent and each of the Lenders:

     (a) executed counterparts of the Guaranty, sufficient in number for distribution to Agent,
each Lender and the Borrower;

     (b) such certificates of resolutions or other action, incumbency certificates and/or other
certificates of Responsible Officers of each of CS Business Trust I, CS Business Trust II, and each
Subsidiary Guarantor as Agent may require evidencing the identity, authority and capacity of each
Responsible Officer thereof authorized to act as a Responsible Officer in connection with the
Guaranty;

     (c) such documents and certifications as Agent may reasonably require to evidence that each of
CS Business Trust I, CS Business Trust II, and each Subsidiary Guarantor is duly organized or
formed, and that each such Person is validly existing, in good standing and qualified to engage in
business in each jurisdiction where its ownership, lease or operation of properties or the conduct
of its business requires such qualification, except to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect; and

     (d) a favorable opinion of counsel to each CS Business Trust I, CS Business Trust II, and each
Subsidiary Guarantor addressed to Agent and each Lender, as to the existence, good standing of such
Guarantor and the due authorization, execution and delivery, enforceability and no conflicts with
other material agreements of the Guaranty with respect to such Guarantor, in form and substance
reasonably satisfactory to Agent.

     7.17 Borrowing Base Requirements. Cause the Borrowing Base Properties to at all times
maintain a minimum aggregate Occupancy Rate of not less than 80%, and the Borrowing Base to consist
of not less than ten Borrowing Base Properties having an aggregate Appraised Value of not less than
$100,000,000.

     7.18 Post Closing Deliveries. Cause to be delivered to the Agent, within 30 days of the
Closing Date, good standing certificates and foreign qualification certificates from the
Secretaries of State of the appropriate jurisdictions for each of the entities listed on
Schedule 7.18, which certificates shall be dated not earlier than the Closing Date.

80

 

ARTICLE VIII.

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, CSI
and Borrower, as applicable, shall not, nor shall they permit any Subsidiary (other than Excluded
Subsidiaries) to, directly or indirectly:

     8.01 Liens. Create, incur, assume or suffer to exist any Lien upon any of its property,
assets or revenues, whether now owned or hereafter acquired, other than the following:

     (a) Liens pursuant to any Loan Document;

     (b) Liens existing on the date hereof and listed on Schedule 8.01 and any renewals or
extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the
amount secured or benefited thereby is not increased, (iii) the direct or any contingent obligor
with respect thereto is not changed, and (iv) any renewal or extension of the obligations secured
or benefited thereby is permitted by Section 8.03(b);

     (c) Liens for taxes not yet due or payable or which are being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves with respect thereto are
maintained on the books of the applicable Person in accordance with GAAP;

     (d) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
arising in the ordinary course of business which are not overdue for a period of more than 30 days
or which are being contested in good faith and by appropriate proceedings diligently conducted, if
adequate reserves with respect thereto are maintained on the books of the applicable Person;

     (e) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation, other than any Lien
imposed by ERISA;

     (f) deposits to secure the performance of bids, trade contracts and leases (other than
Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature incurred in the ordinary course of business;

     (g) with respect to any real property which is not a Pledged Property, easements,
rights-of-way, restrictions and other similar encumbrances affecting real property which, in the
aggregate, are not substantial in amount, and which 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 applicable Person or are otherwise disclosed on the applicable title commitment and
acceptable to the Agent;

     (h) Liens securing judgments for the payment of money not constituting an Event of Default
under Section 9.01(h);

     (i) Liens securing Indebtedness permitted under Section 8.03(e); provided that
(i) such Liens do not at any time encumber any property other than the property financed by such
Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market
value, whichever is lower, of the property being acquired on the date of acquisition;

81

 

     (j) Liens securing Non-recourse Indebtedness permitted under Section 8.03(g);

     (k) Liens on assets of the MEA Restricted Group securing obligations under the GAC Term Loan
Facility; and

     (l) with respect to any real property which is a Pledged Property, Permitted Liens and
Permitted Encumbrances.

     8.02 Investments. Make any Investments, except:

     (a) Investments held by CSI, Borrower or any Subsidiary in the form of cash equivalents or
short-term investment grade marketable debt securities;

     (b) advances to officers, directors and employees of CSI, Borrower and Subsidiaries (other
than members of the MEA Restricted Group) in an aggregate amount not to exceed $500,000 at any time
outstanding, for travel, entertainment, relocation and analogous ordinary business purposes;

     (c) Investments of Borrower in any wholly-owned Subsidiary of the Borrower (other than
Excluded Subsidiaries) and Investments of any wholly-owned Subsidiary in Borrower or in another
wholly-owned Subsidiary of Borrower (other than Excluded Subsidiaries); provided
that, any investment by a member of the MEA Restricted Group in a Subsidiary that is not a
Member of the MEA Restricted Group shall be expressly subordinated to the Obligations.

     (d) 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, and
Investments received in satisfaction or partial satisfaction thereof from financially troubled
account debtors to the extent reasonably necessary in order to prevent or limit loss;

     (e) Guarantees permitted by Section 8.03;

     (f) Investments by Borrower or any Subsidiary of Borrower in:

     (i) Unconsolidated Affiliates, Excluded Subsidiaries and other Persons that are not
wholly-owned Subsidiaries (other than any Subsidiary that is a Guarantor), Mortgage
Receivables, Development Property and Unimproved Land not to exceed, in the aggregate at any
time, 10% of the Consolidated Total Asset Value; and

     (ii) Construction-in-Process in the aggregate at any time, 35% of the Consolidated
Total Asset Value.

provided, however, that the Investments permitted under clauses (i) and
(ii) above shall not exceed, in the aggregate at any time, 40% of the Consolidated Total
Asset Value.

     8.03 Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except:

     (a) Indebtedness under the Loan Documents;

82

 

     (b) Indebtedness outstanding on the date hereof and listed on Schedule 8.03 and any
refinancings, refundings, renewals or extensions thereof; provided that (i) the amount of
such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension
except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and
expenses reasonably incurred, in connection with such refinancing and by an amount equal to any
existing commitments unutilized thereunder and (ii) the terms relating to principal amount,
amortization, maturity, collateral (if any) and subordination (if any), and other material terms
taken as a whole, of any such refinancing, refunding, renewing or extending Indebtedness, and of
any agreement entered into and of any instrument issued in connection therewith, are no less
favorable in any material respect to the Loan Parties or Lenders than the terms of any agreement or
instrument governing the Indebtedness being refinanced, refunded, renewed or extended and the
interest rate applicable to any such refinancing, refunding, renewing or extending Indebtedness
does not exceed the then applicable market interest rate;

     (c) Guarantees of Borrower or any Subsidiary in respect of Indebtedness otherwise permitted
hereunder of Borrower or any wholly-owned Subsidiary (other than a member of the MEA Restricted
Group); provided that any member of the MEA Restricted Group may guarantee the obligations
of GAC under the GAC Term Loan Facility;

     (d) obligations (contingent or otherwise) of Borrower or any Subsidiary existing or arising
under any Swap Contract, provided that (i) such obligations are (or were) entered into by
such Person in the ordinary course of business for the purpose of directly mitigating risks
associated with liabilities, commitments, investments, assets, or property held or reasonably
anticipated by such Person, or changes in the value of securities issued by such Person, and not
for purposes of speculation or taking a “market view”; and (ii) such Swap Contract does not contain
any provision exonerating the non-defaulting party from its obligation to make payments on
outstanding transactions to the defaulting party and provided further that neither the
Borrower nor any Subsidiary that is not a member of the MEA Restricted Group shall be obligated
under any Swap Contract to which a member of the MEA Restricted Group is a party;

     (e) Indebtedness of the Borrower or any Subsidiary that is not a member of the MEA Restricted
Group in respect of capital leases, Synthetic Lease Obligations and purchase money obligations for
fixed or capital assets within the limitations set forth in Section 8.01(i);
provided, however, that the aggregate amount of all such Indebtedness at any one
time outstanding shall not exceed $10,000,000;

     (f) other Recourse Indebtedness of the Borrower or any Subsidiary that is not a member of the
MEA Restricted Group; provided, however, that the aggregate amount of all such
Recourse Indebtedness at any one time outstanding shall not exceed the lesser of 85% of the actual
cost or 75% of appraised value (calculated on the same basis as described in the definition of
“Appraised Value” herein) of all Properties acquired or financed with such Recourse Indebtedness;

     (g) Non-recourse Indebtedness of the Borrower or any Subsidiary that is not a member of the
MEA Restricted Group;

83

 

     (h) Indebtedness of GAC under the GAC Term Loan Facility and any Indebtedness of GAC or any
member of the MEA Restricted Group permitted under the GAC Term Loan Credit Agreement; and

     (i) unsecured guarantees of the Indebtedness referred to in clause (h) above by CSI, the
Borrower and any other Guarantor so long as such Guarantor does not, whether at the time of making
such guarantee or thereafter, own any Property.

     8.04 Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another
Person, or Dispose of (whether in one transaction or in a series of transactions) all or
substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any
Person, except that, so long as no Default exists or would result therefrom:

     (a) any Subsidiary may merge with (i) Borrower, provided that Borrower shall be the
continuing or surviving Person, or (ii) any one or more other Subsidiaries, provided that
when any wholly-owned Subsidiary is merging with another Subsidiary, the wholly-owned Subsidiary
shall be the continuing or surviving Person, and, provided, further, that if a
Guarantor is merging with another Subsidiary, the Guarantor shall be the surviving Person and
provided, further that no Person that is not a member of the MEA Restricted Group
may merge with any Person that is a member of the MEA Restricted Group; and

     (b) any Subsidiary may Dispose of all or substantially all of its assets (upon voluntary
liquidation or otherwise) to CSI or to another Subsidiary (other than an Excluded Subsidiary);
provided that if the transferor in such a transaction is a wholly-owned Subsidiary, then
the transferee must either be CSI or a wholly-owned Subsidiary and, provided,
further, that if the transferor of such assets is a Guarantor, the transferee must either
be CSI or a Guarantor and provided further that any Person that is a member of the
MEA Restricted Group may Dispose of all or substantially all of its assets to any other Subsidiary.

     8.05 Dispositions. Make any Disposition or enter into any agreement to make any Disposition,
except:

     (a) Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in
the ordinary course of business;

     (b) Dispositions of inventory in the ordinary course of business;

     (c) Dispositions of equipment or real property to the extent that (i) such property is
exchanged for credit against the purchase price of similar replacement property or (ii) the
proceeds of such Disposition are reasonably promptly applied to the purchase price of such
replacement property;

     (d) Dispositions of property by any Subsidiary to Borrower or to a wholly-owned Subsidiary
(other than an Excluded Subsidiary unless the Disposing Party is also an Excluded
Subsidiary); provided that if the transferor of such property is a Guarantor, the
transferee thereof must either be CSI or a Guarantor;

     (e) Dispositions permitted by Section 8.04;

84

 

     (f) Dispositions by CSI and its Subsidiaries of property pursuant to sale-leaseback
transactions, provided that the book value of all property so Disposed of shall not exceed
$10,000,000 in any fiscal year and no such transactions may involve any member of the MEA
Restricted Group; and

     (g) non-exclusive licenses of intellectual property rights in the ordinary course of business
and substantially consistent with past practice for terms not exceeding five years;

     (h) subject to Section 8.08, and provided that at the time of such Disposition and
after giving effect thereto no Default or Event of Default exists or would result therefrom, any
other Disposition;

     provided, however, that any Disposition pursuant to clauses (a) through (h) above
shall be for fair market value.

     8.06 Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, or
incur any obligation (contingent or otherwise) to do so, or issue or sell any Equity Interests,
except that:

     (a) so long as no Default shall have occurred and be continuing at the time of any action
described below or would result therefrom, CSI may declare and make any cash dividends or make any
other payment or distribution of cash to its shareholders on account of its capital stock during
any period of four consecutive fiscal quarters of CSI in an amount not to exceed the greater of (i)
the Permitted Distribution Amount and (ii) the aggregate minimum amount required during such period
for CSI to qualify as and maintain its qualification as a REIT;

     (b) so long as no Default shall have occurred and be continuing at the time of any action
described below or would result therefrom, each Subsidiary may make Restricted Payments to
Borrower, Guarantors and any other Person (other than a member of the MEA Restricted Group unless
the Person making such Restricted Payments is a member of the MEA Restricted Group) that owns an
Equity Interest in such Subsidiary, ratably according to their respective holdings of the type of
Equity Interest in respect of which such Restricted Payment is being made;

     (c) so long as no Default shall have occurred and be continuing at the time of any action
described below or would result therefrom, Borrower and each Subsidiary may purchase, redeem or
otherwise acquire Equity Interests issued by it with the proceeds received from the substantially
concurrent issue of new shares of its common stock or other common Equity Interests; and

     (d) notwithstanding clauses (a) and (b) above, CSI may, during any relevant
period, make cash distributions to its shareholders in the minimum amount required during such
period for CSI to qualify as and maintain its qualification as a REIT; provided,
however, that
notwithstanding the foregoing, if (i) a Default under Section 9.01(f) or (g)
(without giving effect to any grace or lapse of time referred to therein) shall have occurred and
be continuing, or (ii) any other Event of Default shall have occurred and as a result thereof the
Obligations have been accelerated, neither the Borrower nor CSI shall make or declare any dividends
or other cash distributions; and

85

 

     (e) CSI may issue shares of its common stock upon the exercise of conversion rights by holders
of Partnership Units.

     8.07 Change in Nature of Business. Engage in any material line of business substantially
different from those lines of business conducted by CSI and its Subsidiaries on the date hereof or
any business substantially related or incidental thereto.

     8.08 Transactions with Affiliates and Members of the MEA Restricted Group. Enter into any
transaction of any kind with any Affiliate of CSI or member of the MEA Restricted Group, whether or
not in the ordinary course of business, other than on fair and reasonable terms substantially as
favorable to CSI or such Subsidiary as would be obtainable by CSI or such Subsidiary at the time in
a comparable arm’s length transaction with a Person other than an Affiliate or member of the MEA
Restricted Group, provided that the foregoing restriction shall not apply to transactions
between or among Borrower and any Guarantor or between and among Guarantors or between or among
members of the MEA Restricted Group.

     8.09 Burdensome Agreements. Enter into any Contractual Obligation (other than this Agreement
or any other Loan Document) that (a) limits the ability (i) of any Subsidiary to make Restricted
Payments to Borrower or any Guarantor or to otherwise transfer property to Borrower or any
Guarantor (other than the GAC Term Loan Credit Agreement), (ii) of any Subsidiary (other than an
Excluded Subsidiary) or CSI to Guarantee the Indebtedness of Borrower, (iii) of the Borrower to
prepay or refinance the Obligations hereunder or (iv) of CSI or any Subsidiary to create, incur,
assume or suffer to exist Liens on property of such Person; provided, however, that this clause
(iv) shall not prohibit any such Contractual Obligation in favor or any holder of Indebtedness
described under Section 8.03(e) to the extent that such Contractual Obligation relates
solely to the property financed with such Indebtedness or in favor of the GAC Lenders under the GAC
Term Loan Facility; or (b) requires the grant of a Lien to secure an obligation of such Person
(other than an Excluded Subsidiary) if a Lien is granted to secure another obligation of such
Person.

     8.10 Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or
indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock
(within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of
purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose.

     8.11 Amendments to Organization Documents. Amend, restate, supplement or otherwise modify the
Organization Documents of CSI or any Subsidiary if such amendment, restatement, supplement or
modification could reasonably be expected to result in a Material Adverse Effect on (a) the rights
and remedies of the Lenders and Agent or (b) the ability of
Borrower and the Guarantors to perform their respective obligations under this Agreement and
any other Loan Document.

     8.12 Acquisitions. Enter into any agreement, contract, binding commitment or other
arrangement providing for any Acquisition, or take any action to solicit the tender of securities
or proxies in respect thereof in order to effect any Acquisition.

86

 

     8.13 Ownership of Property. Notwithstanding anything to the contrary herein, permit any
member of the MEA Restricted Group to own any Property, other than facilities for its corporate
headquarters and a construction shop, as necessary or beneficial to the conduct of the MEA
Restricted Group’s business.

     8.14 Amendment of GAC Term Loan Facility. Cause, permit, provide for or suffer to exist any
amendment or other change to the guaranty agreement of CSI or any other loan document under the GAC
Term Loan Facility in a manner that would impose additional or more restrictive financial covenants
(or other provisions that have the same practical effect as the foregoing) on the Borrower or CSI
under the GAC Term Loan Facility.

ARTICLE IX.

EVENTS OF DEFAULT AND REMEDIES

     9.01 Events of Default. Any of the following shall constitute an Event of Default:

     (a) Non-Payment. Borrower or any other Loan Party fails to pay (i) when and as
required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii)
within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or
any fee due hereunder, or (iii) within five days after the same becomes due, any other amount
payable hereunder or under any other Loan Document; or

     (b) Specific Covenants. Borrower fails to perform or observe any term, covenant or
agreement contained in any of Section 7.01, 7.02, 7.03, 7.05 (with
respect to any Loan Party), 7.10, 7.11, 7.12 or 7.17 or Article
VIII, or any Guarantor fails to perform or observe any term, covenant or agreement contained in
any Facility Guaranty; or

     (c) Other Defaults. The occurrence of an Event of Default under any Mortgage which is
not cured. Any Loan Party fails to perform or observe any other covenant or agreement (not
specified in subsection (a) or (b) above) contained in any other Loan Document on
its part to be performed or observed and such failure continues for 30 days or any default or Event
of Default occurs under any other Loan Document; or

     (d) Representations and Warranties. Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of CSI, the Borrower or any other Loan Party
herein, in any other Loan Document, or in any document delivered in connection herewith or
therewith shall be incorrect or misleading in any material respect when made or deemed made; or

     (e) Cross-Default. (i) CSI, Borrower or any Subsidiary (A) fails to make any payment
when due (whether by scheduled maturity, required prepayment, acceleration, demand,
or otherwise) in respect of the GAC Term Loan Facility, any Recourse Indebtedness or
Guarantee or Recourse Indebtedness (other than Indebtedness hereunder and Indebtedness under Swap
Contracts) having an aggregate principal amount (including undrawn committed or available amounts
and including amounts owing to all creditors under any combined or syndicated credit arrangement)
of more than $25,000,000, (B) fails to make any payment when due (whether by scheduled maturity,
required prepayment, acceleration, demand, or otherwise) in respect
of any Non-recourse Indebtedness or Guarantee (other than Non-recourse

87

 

Indebtedness hereunder and Non-recourse
Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn
committed or available amounts and including amounts owing to all creditors under any combined or
syndicated credit arrangement) of more than $50,000,000, or (C) fails to observe or perform any
other agreement or condition relating to the GAC Term Loan Facility, any such Recourse or
Non-recourse Indebtedness or Guarantee having an aggregate principal amount (including undrawn
committed or available amounts and including amounts owing to all creditors under any combined or
syndicated credit arrangement) of more than $25,000,000, or contained in any instrument or
agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which
default or other event is to cause, or to permit the holder or holders of such Indebtedness or the
beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or
holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such
Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed
(automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such
Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash
collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early
Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under
such Swap Contract as to which Borrower or any Subsidiary is the Defaulting Party (as defined in
such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to
which Borrower or any Subsidiary is an Affected Party (as so defined) and, in either event, the
Swap Termination Value owed by Borrower or such Subsidiary as a result thereof is greater than
$25,000,000; or (iii) Borrower or any Subsidiary fails to make any payment when due (whether by
scheduled maturity, required prepayment, acceleration, demand, or otherwise) in excess of
$25,000,000 in the aggregate under any Swap Contract; or

     (f) Insolvency Proceedings, Etc. Any Loan Party, or any of its Subsidiaries whose
total assets comprises at least $25,000,000 of Consolidated Total Asset Value, institutes or
consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment
for the benefit of creditors; or applies for or consents to the appointment of any receiver,
trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or
any material part of its property; or any receiver, trustee, custodian, conservator, liquidator,
rehabilitator or similar officer is appointed without the application or consent of such Person and
the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under
any Debtor Relief Law relating to any such Person or to all or any material part of its property is
instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar
days, or an order for relief is entered in any such proceeding; or

     (g) Inability to Pay Debts; Attachment. (i) CSI, Borrower or any Subsidiary becomes
unable or admits in writing its inability or fails generally to pay its debts as they become due,
or (ii) any writ or warrant of attachment or execution or similar process is issued or
levied against all or any material part of the property of any such Person and is not
released, vacated or fully bonded within 30 days after its issue or levy; or

     (h) Judgments. There is entered against CSI, Borrower or any Subsidiary (i) a final
judgment or order for the payment of money in an aggregate amount exceeding $25,000,000 (to the
extent not covered by independent third-party insurance as to which the insurer does not dispute
coverage), or (ii) any one or more non-monetary final judgments that have, or could

88

 

reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case,
(A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there
is a period of 30 consecutive days during which a stay of enforcement of such judgment, by reason
of a pending appeal or otherwise, is not in effect; or

     (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer
Plan which has resulted or could reasonably be expected to result in liability of CSI or Borrower
under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount
in excess of $25,000,000, or (ii) CSI, Borrower or any ERISA Affiliate fails to pay when due, after
the expiration of any applicable grace period, any installment payment with respect to its
withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount
in excess of $25,000,000; or

     (j) Invalidity of Loan Documents. Any Loan Document or any provision thereof, at any
time after its execution and delivery and for any reason other than as expressly permitted
hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force
and effect; or any Loan Party or any other Person contests in any manner the validity or
enforceability of any Loan Document or any provision thereof; or any Loan Party denies that it has
any or further liability or obligation under any Loan Document, or purports to revoke, terminate or
rescind any Loan Document or any provision thereof; or

     (k) Change of Control. There occurs any Change of Control.

     9.02 Remedies Upon Event of Default. If any Event of Default occurs and is continuing, Agent
shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the
following actions:

     (a) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer
to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be
terminated;

     (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and
unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document
to be immediately due and payable, without presentment, demand, protest or other notice of any
kind, all of which are hereby expressly waived by Borrower;

     (c) require that Borrower Cash Collateralize the L/C Obligations (in an amount equal to the
then Outstanding Amount thereof); and

     (d) exercise on behalf of itself and the Lenders all rights and remedies available to it and
the Lenders under the Loan Documents;

provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to Borrower under the Bankruptcy Code of the United States, the
obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit
Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts as aforesaid shall automatically become due and payable, and the
obligation of

89

 

Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically
become effective, in each case without further act of Agent or any Lender.

     9.03 Application of Funds. After the exercise of remedies provided for in Section
9.02 (or after the Loans have automatically become immediately due and payable and the L/C
Obligations have automatically been required to be Cash Collateralized as set forth in the proviso
to Section 9.02), any amounts received on account of the Obligations shall, subject to the
terms of the Intercreditor Agreement, be applied by Agent in the following order:

     First, to payment of that portion of the Obligations constituting fees,
indemnities, expenses and other amounts (including fees, charges and disbursements of
counsel to Agent and amounts payable under Article III) payable to Agent in its
capacity as such;

     Second, to payment of that portion of the Obligations constituting fees,
indemnities and other amounts (other than principal and interest) payable to Lenders and the
L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders
and the L/C Issuer (including fees and time charges for attorneys who may be employees of
any Lender or the L/C Issuer), amounts comparable to the foregoing in respect of Secured
Cash Management Agreements and Secured Hedge Agreements and amounts payable under
Article III), ratably among them in proportion to the respective amounts described
in this clause Second payable to them;

     Third, to payment of that portion of the Obligations constituting accrued and
unpaid L/C Fees and interest on the Loans, L/C Borrowings and other Obligations (excluding
Secured Cash Management Agreements and Secured Hedge Agreements), ratably among Lenders and
the L/C Issuer in proportion to the respective amounts described in this clause
Third payable to them;

     Fourth, to payment of that portion of the Obligations constituting unpaid
principal of the Loans and L/C Borrowings and Obligations arising under Secured Hedge
Agreements and Secured Cash Management Agreements, ratably among Lenders, the L/C Issuer,
the Hedge Banks and the Cash Management Banks in proportion to the respective amounts
described in this clause Fourth held by them;

     Fifth, to Agent for the account of the L/C Issuer, to Cash Collateralize that
portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit;
and

     Last, the balance, if any, after all of the Obligations have been indefeasibly
paid in full, to Borrower or as otherwise required by Law.

     Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate undrawn
amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy
drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash
Collateral
after all Letters of Credit have either been fully drawn or expired, such remaining amount
shall be applied to the other Obligations, if any, in the order set forth above.

     Notwithstanding the foregoing, Obligations arising under Secured Cash Management Agreements
and Secured Hedge Agreements shall be excluded from the application described

90

 

above if the Agent
has not received written notice thereof, together with such supporting documentation as the Agent
may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. Each Cash
Management Bank or Hedge Bank not a party to this Agreement that has been given the notice
contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and
accepted the appointment of the Agent pursuant to the terms of Article X hereof for itself
and its Affiliates as if a “Lender” party hereto.

ARTICLE X.

ADMINISTRATIVE AGENT

     10.01 Appointment and Authorization of Administrative Agent. Each of the Lenders (including
in its capacities as a potential Hedge Bank and potential Cash Management Bank) and the L/C Issuer
hereby irrevocably appoints Bank of America to act on its behalf as Agent hereunder and under the
other Loan Documents and authorizes Agent to take such actions on its behalf and to exercise such
powers as are delegated to Agent by the terms hereof and thereof, together with such actions and
powers as are reasonably incidental thereto. The provisions of this Article are solely for the
benefit of Agent, the Lenders and the L/C Issuer, and neither Borrower nor any other Loan Party
shall have rights as a third party beneficiary of any of such provisions.

     10.02 Rights as a Lender. The Person serving as Agent hereunder shall have the same rights
and powers in its capacity as a Lender as any other Lender and may exercise the same as though it
were not Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or
unless the context otherwise requires, include the Person serving as Agent hereunder in its
individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act
as the financial advisor or in any other advisory capacity for and generally engage in any kind of
business with Borrower or any Subsidiary or other Affiliate thereof as if such Person were not
Agent hereunder and without any duty to account therefor to Lenders.

     10.03 Exculpatory Provisions. Agent shall not have any duties or obligations except those
expressly set forth herein and in the other Loan Documents. Without limiting the generality of the
foregoing, Agent:

     (a) shall not be subject to any fiduciary or other implied duties, regardless of whether a
Default has occurred and is continuing;

     (b) shall not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan
Documents that Agent is required to exercise as directed in writing by the Required Lenders (or
such other number or percentage of the Lenders as shall be expressly provided for herein or in the
other Loan Documents), provided that Agent shall not be required
to take any action that, in its opinion or the opinion of its counsel, may expose Agent to
liability or that is contrary to any Loan Document or applicable Law; and

     (c) shall not, except as expressly set forth herein and in the other Loan Documents, have any
duty to disclose, and shall not be liable for the failure to disclose, any information

91

 

relating to
Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as
Agent or any of its Affiliates in any capacity.

     (d) Agent shall not be liable for any action taken or not taken by it (i) with the consent or
at the request of the Required Lenders (or such other number or percentage of the Lenders as shall
be necessary, or as Agent shall believe in good faith shall be necessary, under the circumstances
as provided in Sections 9.02 and 11.01) or (ii) in the absence of its own gross
negligence or willful misconduct. Agent shall be deemed not to have knowledge of any Default
unless and until written notice describing such Default is given to Agent by Borrower, a Lender or
the L/C Issuer. Agent shall not be responsible for or have any duty to ascertain or inquire into
(i) any statement, warranty or representation made in or in connection with this Agreement or any
other Loan Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document or (v) the
satisfaction of any condition set forth in Article IV or elsewhere herein, other than to
confirm receipt of items expressly required to be delivered to Agent.

     10.04 Reliance by Administrative Agent. Agent shall be entitled to rely upon, and shall not
incur any liability for relying upon, any notice, request, certificate, consent, statement,
instrument, document or other writing (including any electronic message, Internet or intranet
website posting or other distribution) believed by it to be genuine and to have been signed, sent
or otherwise authenticated by the proper Person. Agent also may rely upon any statement made to it
orally or by telephone and believed by it to have been made by the proper Person, and shall not
incur any liability for relying thereon. In determining compliance with any condition hereunder to
the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to
the satisfaction of a Lender or the L/C Issuer, Agent may presume that such condition is
satisfactory to such Lender or the L/C Issuer unless Agent shall have received notice to the
contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of
such Letter of Credit. Agent may consult with legal counsel (who may be counsel for Borrower),
independent accountants and other experts selected by it, and shall not be liable for any action
taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

     10.05 Delegation of Duties. Agent may perform any and all of its duties and exercise its
rights and powers hereunder or under any other Loan Document by or through any one or more sub
agents appointed by Agent. Agent and any such sub agent may perform any and all of its duties and
exercise its rights and powers by or through their respective Related Parties. The exculpatory
provisions of this Article shall apply to any such sub agent and to the Related Parties of Agent
and any such sub agent, and shall apply to their respective activities in connection with the
syndication of the credit facilities provided for herein as well as activities as Agent.

     10.06 Resignation of Agent. Agent may at any time give notice of its resignation to Lenders,
the L/C Issuer and Borrower. Upon receipt of any such notice of resignation, the Required Lenders
shall have the right, in consultation with Borrower, to appoint a successor, which shall be a bank
with an office in the United States, or an Affiliate of any such bank with

92

 

an office in the United
States. If no such successor shall have been so appointed by the Required Lenders and shall have
accepted such appointment within 30 days after the retiring Agent gives notice of its resignation,
then the retiring Agent may on behalf of Lenders and the L/C Issuer, appoint a successor Agent
meeting the qualifications set forth above; provided that if Agent shall notify Borrower
and the Lenders that no qualifying Person has accepted such appointment, then such resignation
shall nonetheless become effective in accordance with such notice and (a) the retiring Agent shall
be discharged from its duties and obligations hereunder and under the other Loan Documents (except
that in the case of any collateral security held by Agent on behalf of the Lenders or the L/C
Issuer under any of the Loan Documents, the retiring Agent shall continue to hold such collateral
security until such time as a successor Agent is appointed) and (b) all payments, communications
and determinations provided to be made by, to or through Agent shall instead be made by or to each
Lender and the L/C Issuer directly, until such time as the Required Lenders appoint a successor
Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as
Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or retired) Agent, and the retiring Agent shall be
discharged from all of its duties and obligations hereunder or under the other Loan Documents (if
not already discharged therefrom as provided above in this Section). The fees payable by Borrower
to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed
between Borrower and such successor. After the retiring Agent’s resignation hereunder and under
the other Loan Documents, the provisions of this Article and Section 11.04 shall continue
in effect for the benefit of such retiring Agent, its sub agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while the retiring
Administrative Agent was acting as Administrative Agent.

     Any resignation by Bank of America as Agent pursuant to this Section shall also constitute its
resignation as L/C Issuer and Swing Line Lender. Upon the acceptance of a successor’s appointment
as Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights,
powers, privileges and duties of the retiring L/C Issuer and Swing Line Lender, (b) the retiring
L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and
obligations hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall
issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time
of such succession or make other arrangements satisfactory to the retiring L/C Issuer to
effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of
Credit.

     10.07 Non-Reliance on Agent and Other Lenders. Each Lender and the L/C Issuer acknowledges
that it has, independently and without reliance upon Agent or any other Lender or any of their
Related Parties and based on such documents and information as it has deemed appropriate, made its
own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also
acknowledges that it will, independently and without reliance upon Agent or any other Lender or any
of their Related Parties and based on such documents and information as it shall from time to time
deem appropriate, continue to make its own decisions in
taking or not taking action under or based upon this Agreement, any other Loan Document or any
related agreement or any document furnished hereunder or thereunder.

93

 

     10.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Sole
Lead Arranger, Sole Book Manager, Syndication Agent or Documentation Agent listed on the cover page
hereof shall have any powers, duties or responsibilities under this Agreement or any of the other
Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the
L/C Issuer hereunder.

     10.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any
proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party,
Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and
payable as herein expressed or by declaration or otherwise and irrespective of whether Agent shall
have made any demand on Borrower) shall be entitled and empowered, by intervention in such
proceeding or otherwise

     (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid
and to file such other documents as may be necessary or advisable in order to have the claims of
Lenders, the L/C Issuer and Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of Lenders, the L/C Issuer and Agent and their respective agents and
counsel and all other amounts due Lenders, the L/C Issuer and Agent under Sections 2.03(i)
and (j), 2.09 and 11.04) allowed in such judicial proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any such
claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such
payments to Agent and, in the event that Agent shall consent to the making of such payments
directly to Lenders and the L/C Issuer, to pay to Agent any amount due for the reasonable
compensation, expenses, disbursements and advances of Agent and its agents and counsel, and any
other amounts due Agent under Sections 2.09 and 11.04. Nothing contained herein
shall be deemed to authorize Agent to authorize or consent to or accept or adopt on behalf of any
Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition
affecting the Obligations or the rights of any Lender or the L/C Issuer or to authorize Agent to
vote in respect of the claim of any Lender or the L/C Issuer in any such proceeding.

     10.10 Collateral and Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize
the Agent, at its option and in its discretion,

     (a) to release any Lien on any property granted to or held by the Agent under any Loan
Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations
(other than contingent indemnification obligations) and the expiration or termination of all
Letters of Credit, (ii) that is sold or to be sold as part of or in connection with any sale
permitted hereunder or under any other Loan Document, or (iii) subject to Section
11.01, if approved, authorized or ratified in writing by the Required Lenders;

94

 

     (b) to subordinate any Lien on any property granted to or held by the Agent under any Loan
Document to the holder of any Lien on such property that is permitted by Section 8.01(i);
and

     (c) to release any Subsidiary Guarantor from its obligations under the Guaranty if such Person
ceases to be a Subsidiary as a result of a transaction permitted hereunder (ii) to release CS
Business Trust I or CS Business Trust II, respectively, from its obligations under the Guaranty if
(x) such Person ceases to be a Subsidiary of CSI and (y) the Borrower becomes a direct Subsidiary
of CSI in a transaction not prohibited by the terms hereof (unless, with respect to this clause
(y), such replacement direct owner(s) of Borrower execute a Guaranty Joinder Agreement). Upon
request by Agent at any time, each Lender and the L/C Issuer will confirm in writing Agent’s
authority to release any Guarantor from its obligations under the Guaranty pursuant to this
Section 10.10.

     Upon request by the Agent at any time, the Required Lenders will confirm in writing the
Agent’s authority to release or subordinate its interest in particular types or items of property,
or to release any Guarantor from its obligations under the Guaranty pursuant to this Section
10.10.

     10.11 Secured Cash Management Agreements and Secured Hedging Agreements. No Cash Management
Bank or Hedge Bank who obtains the benefit of the provisions of Section 9.03, Article
V, the Facility Guaranty or any Collateral by virtue of the provisions hereof or of the
Facility Guaranty or any Security Instrument shall have any right to notice of any action or to
consent to, direct or object to any action hereunder or under any other Loan Document or otherwise
in respect of the Collateral (including the release or impairment of any Collateral) other than in
its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan
Documents. Notwithstanding any other provision of this Article X to the contrary, the
Agent shall be required to verify the payment of, or that other satisfactory arrangements have been
made with respect to, Obligations arising under Secured Cash Management Agreements and Secured
Hedge Agreements only if the Agent has received written notice of such Obligations, together with
such supporting documentation as the Agent may request, from the applicable Cash Management Bank or
Hedge Bank, as the case may be.

ARTICLE XI.

MISCELLANEOUS

     11.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other
Loan Document, and no consent to any departure by Borrower or any other Loan Party therefrom, shall
be effective unless in writing signed by the Required Lenders and Borrower or the applicable Loan
Party, as the case may be, and acknowledged by Agent, and each such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which given;
provided, however, that no such amendment, waiver or consent shall:

     (a) waive any condition set forth in Section 4.01(a) or Section 11.06(d)
without the written consent of each Lender; provided, however, in the sole
discretion of Agent, only a waiver
by Agent shall be required with respect to immaterial matters or items specified in
Section 4.01(a)(iii) or (iv) with respect to which Borrower has given assurances
satisfactory to Agent that such items shall be delivered promptly following the Closing Date;

95

 

     (b) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated
pursuant to Section 9.02) without the written consent of such Lender;

     (c) postpone any date fixed by this Agreement or any other Loan Document for any payment
(excluding mandatory prepayments) of principal, interest, fees or other amounts due to Lenders (or
any of them) hereunder or under any other Loan Document without the written consent of each Lender
directly affected thereby;

     (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (iv) of the second proviso to this Section 11.01)
any fees or other amounts payable hereunder or under any other Loan Document, without the written
consent of each Lender directly affected thereby; provided, however, that only the
consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or
to waive any obligation of Borrower to pay interest or L/C Fees at the Default Rate or (ii) to
amend any financial covenant hereunder (or any defined term used therein) even if the effect of
such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce
any fee payable hereunder;

     (e) change Section 2.13 or Section 9.03 in a manner that would alter the pro
rata sharing of payments required thereby without the written consent of each Lender;

     (f) change any provision of this Section or the definition of “Required Lenders” or any other
provision hereof specifying the number or percentage of Lenders required to amend, waive or
otherwise modify any rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender; or

     (g) release any Guarantor from any Facility Guaranty except in accordance with the terms of
any Loan Document, without the written consent of each Lender;

and, provided further, that (i) no amendment, waiver or consent shall, unless in
writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights
or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of
Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing
and signed by Swing Line Lender in addition to the Lenders required above, affect the rights or
duties of Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall,
unless in writing and signed by Agent in addition to the Lenders required above, affect the rights
or duties of Agent under this Agreement or any other Loan Document; and (iv) the Fee Letter may be
amended, or rights or privileges thereunder waived, in a writing executed only by the parties
thereto. 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.

     11.02 Notices; Effectiveness; Electronic Communications.

     (a) Notices Generally. Except in the case of notices and other communications
expressly permitted to be given by telephone (and except as provided in subsection (b)
below), all notices and other communications provided for herein shall be in writing and shall be

96

 

delivered by hand or overnight courier service, mailed by certified or registered mail or sent by
telecopier as follows, and all notices and other communications expressly permitted hereunder to be
given by telephone shall be made to the applicable telephone number, as follows:

     (i) if to Borrower, Agent, the L/C Issuer or Swing Line Lender, to the address,
telecopier number, electronic mail address or telephone number specified for such Person on
Schedule 11.02; and

     (ii) if to any other Lender, to the address, telecopier number, electronic mail address
or telephone number specified in its Administrative Questionnaire.

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

     (b) Electronic Communications. Notices and other communications to Lenders and the
L/C Issuer hereunder may be delivered or furnished by electronic communication (including e-mail
and Internet or intranet websites) pursuant to procedures approved by Agent, provided that
the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to Article
II if such Lender or the L/C Issuer, as applicable has notified Agent that it is incapable of
receiving notices under such Article by electronic communication. Agent or Borrower may, in its
discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it, provided that approval of such
procedures may be limited to particular notices or communications. Unless Agent otherwise
prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received
upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return
receipt requested” function, as available, return e-mail or other written acknowledgement),
provided that if such notice or other communication is not sent during the normal business
hours of the recipient, such notice or communication shall be deemed to have been sent at the
opening of business on the next business day for the recipient, and (ii) notices or communications
posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the
intended recipient at its e-mail address as described in the foregoing clause (i) of
notification that such notice or communication is available and identifying the website address
therefor.

     (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF BORROWER MATERIALS OR THE
ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM BORROWER
MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING 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 ANY AGENT PARTY IN CONNECTION WITH BORROWER

97

 

MATERIALS OR THE PLATFORM. In no event shall Agent or any of its Related Parties (collectively,
the “Agent Parties”) have any liability to Borrower, any Lender, the L/C Issuer or any
other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort,
contract or otherwise) arising out of Borrower’s or Agent’s transmission of Borrower Materials
through the Internet, except to the extent that such losses, claims, damages, liabilities or
expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment
to have resulted from the gross negligence or willful misconduct of such Agent Party;
provided, however, that in no event shall any Agent Party have any liability to
Borrower, any Lender, the L/C Issuer or any other Person for indirect, special, incidental,
consequential or punitive damages (as opposed to direct or actual damages).

     (d) Change of Address, Etc. Each of Borrower, Agent, the L/C Issuer and Swing Line
Lender may change its address, telecopier or telephone number for notices and other communications
hereunder by notice to the other parties hereto. Each other Lender may change its address,
telecopier or telephone number for notices and other communications hereunder by notice to
Borrower, Agent, the L/C Issuer and Swing Line Lender. In addition, each Lender agrees to notify
Agent from time to time to ensure that Agent has on record (i) an effective address, contact name,
telephone number, telecopier number and electronic mail address to which notices and other
communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each
Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at
all times have selected the “Private Side Information” or similar designation on the content
declaration screen of the Platform in order to enable such Public Lender or its delegate, in
accordance with such Public Lender’s compliance procedures and applicable Law, including United
States Federal and state securities Laws, to make reference to Borrower Materials that are not made
available through the “Public Side Information” portion of the Platform and that may contain
material non-public information with respect to the Borrower or its securities for purposes of
United States Federal or state securities laws.

     (e) Reliance by Agent. L/C Issuer and Lenders. Agent, the L/C Issuer and Lenders
shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices and
Swing Line Loan Notices) purportedly given by or on behalf of Borrower even if (i) such notices
were not made in a manner specified herein, were incomplete or were not preceded or followed by any
other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient,
varied from any confirmation thereof. Borrower shall indemnify Agent, the L/C Issuer, each Lender
and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting
from the reliance by such Person on each notice purportedly given by or on behalf of Borrower. All
telephonic notices to and other telephonic communications with Agent may be recorded by Agent, and
each of the parties hereto hereby consents to such recording.

     11.03 No Waiver; Cumulative Remedies. No failure by any Lender, the L/C Issuer or Agent to
exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege
hereunder 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.

98

 

     11.04 Expenses; Indemnity; Damage Waiver.

     (a) Costs and Expenses. Borrower shall pay (i) all reasonable out-of-pocket expenses
incurred by Agent and its Affiliates (including the reasonable fees, charges and disbursements of
counsel for Agent), in connection with the syndication of the credit facilities provided for
herein, the preparation, negotiation, execution, delivery and administration of this Agreement and
the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or
thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii)
all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance,
amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and
(iii) all out-of-pocket expenses incurred by Agent, any Lender or the L/C Issuer (including the
fees, charges and disbursements of any counsel for Agent, any Lender or the L/C Issuer), and shall
pay all fees and time charges for attorneys who may be employees of Agent, any Lender or the L/C
Issuer, in connection with the enforcement or protection of its rights (A) in connection with this
Agreement and the other Loan Documents, including its rights under this Section, or (B) in
connection with the Loans made or Letters of Credit issued hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of
such Loans or Letters of Credit.

     (b) Indemnification by Borrower. Borrower shall indemnify Agent (and any sub-agent
thereof), Arranger, each Lender and the L/C Issuer, and each Related Party of any of the foregoing
Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and related expenses (including the
fees, charges and disbursements of any counsel for any Indemnitee) incurred by any Indemnitee or
asserted against any Indemnitee by any third party or by Borrower or any other Loan Party arising
out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any
other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance
by the parties hereto of their respective obligations hereunder or thereunder, or the consummation
of the transactions contemplated hereby or thereby or, in the case of the Agent (and any sub-agent
thereof) and its Related Parties only, the administration of this Agreement and the other Loan
Documents, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom
(including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if
the documents presented in connection with such demand do not strictly comply with the terms of
such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on
or from any property owned or operated by Borrower or any of its Subsidiaries, or any Environmental
Liability related in any way to Borrower or any of its Subsidiaries, or (iv) any actual or
prospective claim, litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory, whether brought by a third party or by
Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto, IN
ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE,
CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; provided that such indemnity shall not,
as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or
related expenses (x) are determined by
a court of competent jurisdiction by final and nonappealable judgment to have resulted from
the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by
Borrower or any other Loan Party against an Indemnitee for breach in bad faith of such

99

 

Indemnitee’s
obligations hereunder or under any other Loan Document, if Borrower or such Loan Party has obtained
a final and nonappealable judgment in its favor on such claim as determined by a court of competent
jurisdiction.

     (c) Reimbursement by Lenders. To the extent that Borrower for any reason fails to
indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it
to Agent (or any sub-agent thereof), the L/C Issuer or any Related Party of any of the foregoing,
each Lender severally agrees to pay to Agent (or any such sub-agent), the L/C Issuer or such
Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time
that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount,
provided that the unreimbursed expense or indemnified loss, claim, damage, liability or
related expense, as the case may be, was incurred by or asserted against Agent (or any such
sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the
foregoing acting for Agent (or any such sub-agent) or L/C Issuer in connection with such capacity.
The obligations of the Lenders under this subsection (c) are subject to the provisions of
Section 2.12(d).

     (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on
any theory of liability, for special, indirect, consequential or punitive damages (as opposed to
direct or actual damages) arising out of, in connection with, or as a result of, this Agreement,
any other Loan Document or any agreement or instrument contemplated hereby, the transactions
contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof.
No Indemnitee referred to in subsection (b) above shall be liable for any damages arising
from the use by unintended recipients of any information or other materials distributed to such
unintended recipients by such Indemnitee through telecommunications, electronic or other
information transmission systems in connection with this Agreement or the other Loan Documents or
the transactions contemplated hereby or thereby other than for direct or actual damages resulting
from the gross negligence or willful misconduct of such Indemnitee as determined by a final and
nonappealable judgment of a court of competent jurisdiction.

     (e) Payments. All amounts due under this Section shall be payable not later than ten
Business Days after demand therefor.

     (f) Survival. The agreements in this Section shall survive the resignation of Agent
and the L/C Issuer, the replacement of any Lender, the termination of the Aggregate Commitments and
the repayment, satisfaction or discharge of all the other Obligations.

     11.05 Payments Set Aside. To the extent that any payment by or on behalf of Borrower is made
to Agent, the L/C Issuer or any Lender, or Agent, the L/C Issuer or any Lender exercises its right
of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently
invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant
to any settlement entered into by Agent, the L/C Issuer or such Lender in its discretion) to be
repaid to a trustee, receiver or any other party, in connection with any
proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery,
the obligation or part thereof originally intended to be satisfied shall be revived and continued
in full force and effect as if such payment had not been made or such setoff had not occurred, and

100

 

(b) each Lender and the L/C Issuer severally agrees to pay to Agent upon demand its applicable
share (without duplication) of any amount so recovered from or repaid by Agent, plus interest
thereon from the date of such demand to the date such payment is made at a rate per annum equal to
the Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C
Issuer under clause (b) of the preceding sentence shall survive the payment in full of the
Obligations and the termination of this Agreement.

     11.06 Successors and Assigns.

     (a) Successors and Assigns Generally. 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 neither Borrower nor any other Loan Party may assign or
otherwise transfer any of its rights or obligations hereunder without the prior written consent of
Agent, the L/C Issuer and each Lender and no Lender may assign or otherwise transfer any of its
rights or obligations hereunder except (i) to an assignee in accordance with the provisions of
subsection (b) of this Section, (ii) by way of participation in accordance with the
provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of subsection (f) of this Section (and any
other attempted assignment or transfer by any party hereto shall be null and void). Nothing in
this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in subsection (d) of this Section and, to the extent expressly contemplated
hereby, the Related Parties of each of Agent, the L/C Issuer and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

     (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment and the Loans (including for purposes of this subsection (b),
participations in L/C Obligations and in Swing Line Loans) at the time owing to it);
provided that any such assignment shall be subject to the following conditions:

     (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitment and the Loans at the time owing to it or in the case
of an assignment to a Lender, an affiliate of a Lender or an Approved Fund, no
minimum amount need be assigned; and

     (B) in any case not described in subsection (b)(i)(A) of this Section, the
aggregate amount of the Commitment (which for this purpose includes Loans
outstanding thereunder) or, if the Commitment is not then in effect, the principal
outstanding balance of the 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 Agent or, if “Trade Date” is
specified in the Assignment and Assumption, as of the Trade Date, shall not be
less than $5,000,000 unless each of the Agent and, so long as no Event of Default
has occurred and is continuing, the Borrower otherwise consents (each such

101

 

consent
not to be unreasonably withheld or delayed); provided, however, that
concurrent assignments to members of an Assignee Group and concurrent assignments
from members of an Assignee Group to a single Eligible Assignee (or to an Eligible
Assignee and members of its Assignee Group) will be treated as a single assignment
for purposes of determining whether such minimum amount has been met.

     (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement with respect to the Loans or the Commitment assigned, except that this
clause (ii) shall not apply to the Swing Line Lender’s rights and obligations in respect of
Swing Line Loans.

     (iii) Required Consents. No consent shall be required for any assignment
except to the extent required by subsection (b)(i)(B) of this Section and, in addition:

     (A) the consent of the Borrower (such consent not to be unreasonably withheld
or delayed) shall be required unless (1) an Event of Default has occurred and is
continuing at the time of such assignment or (2) such assignment is to a Lender, an
Affiliate of a Lender or an Approved Fund;

     (B) the consent of the Agent (such consent not to be unreasonably withheld or
delayed) shall be required if such assignment is to be a Person that is not a
Lender, an Affiliate of such Lender or an Approved Fund with respect to such Lender;

     (C) the consent of the L/C Issuer (such consent not to be unreasonably withheld
or delayed) shall be required for any assignment that increases the obligation of
the assignee to participate in exposure under one or more Letters of Credit (whether
or not then outstanding); and

     (D) the consent of the Swing Line Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment.

     (iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Agent an Assignment and Assumption, together with a processing and
recordation fee in the amount of $3,500; provided, however, that the Agent
may, in its sole discretion, elect to waive such processing and recordation fee in the case
of any assignment. The assignee, if it is not a Lender, shall deliver to the Agent an
Administrative Questionnaire.

     (v) No Assignment to Borrower. No such assignment shall be made to the
Borrower or any of the Borrower’s Affiliates or Subsidiaries.

     (vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural person.

102

 

     (c) Register. Agent, acting solely for this purpose as an agent of Borrower, shall
maintain at Administrative Agent’s Office 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 amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the
terms hereof from time to time (the “Register”). The entries in the Register shall be
conclusive, and Borrower, 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. The Register shall be available for inspection by each of
Borrower and the L/C Issuer, at any reasonable time and from time to time upon reasonable prior
notice. In addition, at any time that a request for a consent for a material or substantive change
to the Loan Documents is pending, any Lender may request and receive from Agent a copy of the
Register

     Subject to acceptance and recording thereof by the Agent pursuant to subsection (c) of this
Section, from and after the effective date specified in each Assignment and Assumption, the
assignee thereunder shall be a party to this Agreement 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 3.01, 3.04, 3.05, and 11.04
with respect to facts and circumstances occurring prior to the effective date of such assignment.
Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that
does not comply with this subsection 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 subsection (d) of
this Section.

     (d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower or the Agent, sell participations to any Person (other than a natural person or the
Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in
all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or
a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C
Obligations and/or Swing Line Loans) owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations and (iii) the
Borrower, the Agent, the Lenders and the L/C Issuer shall continue to deal solely and directly with
such Lender in connection with such Lender’s rights and obligations under this Agreement.

     Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification described in the first
proviso to Section 11.01 that affects such Participant. Subject to subsection (e) of this
Section, the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 3.01, 3.04 and

103

 

3.05 to the same extent as if it were a Lender and
had acquired its interest by assignment pursuant to subsection (b) of this Section. To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 11.08
as though it were a Lender, provided such Participant agrees to be subject to Section
2.13 as though it were a Lender.

     (e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 3.01 or 3.04 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 Borrower’s prior written
consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to
the benefits of Section 3.01 unless Borrower is notified of the participation sold to such
Participant and such Participant agrees, for the benefit of Borrower, to comply with Section
3.01(e) as though it were a Lender.

     (f) Certain Pledges. Any Lender may at any time pledge or assign a security interest
in all or any portion of its rights under this Agreement (including under its Note, if any) to
secure obligations of such Lender, including any pledge or assignment to secure obligations to a
Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender
from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as
a party hereto.

     (g) Electronic Execution of Assignments. The words “execution”, “signed”,
“signature”, and words of like import in any Assignment and Assumption shall be deemed to include
electronic signatures or the keeping of records in electronic form, each of which shall be of the
same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable law, including the Federal Electronic Signatures in Global and National Commerce Act,
the New York State Electronic Signatures and Records Act, or any other similar state laws based on
the Uniform Electronic Transactions Act.

     (h) Deemed Consent of Borrower. If the consent of Borrower to an assignment to an
Eligible Assignee is required hereunder (including a consent to an assignment which does not meet
the minimum assignment threshold specified in clause (i) of the proviso to the first
sentence of Section 11.06(b)), Borrower shall be deemed to have given its consent five
Business Days after the date notice thereof has been delivered to Borrower by the assigning Lender
(through Agent) unless such consent is expressly refused by Borrower prior to such fifth Business
Day.

     (i) Resignation as L/C Issuer or Swing Line Lender. Notwithstanding anything to the
contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans
pursuant to subsection (b) above, Bank of America may, (i) upon 30 days’ notice to Borrower
and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days’ notice to Borrower, resign as Swing
Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, Borrower
shall be entitled to appoint from among Lenders a successor L/C Issuer or Swing Line Lender
hereunder; provided, however, that no failure by Borrower to appoint any such
successor shall affect the resignation of Bank of America as L/C Issuer or Swing Line
Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the
rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of
Credit outstanding as of the Closing Date of its resignation as L/C Issuer and all L/C Obligations

104

 

with respect thereto (including the right to require the Lenders to make Base Rate Committed Loans
or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If Bank
of America resigns as Swing Line Lender, it shall retain all the rights of Swing Line Lender
provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the
Closing Date of such resignation, including the right to require the Lenders to make Base Rate
Committed Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section
2.04(c). Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties
of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C
Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding
at the time of such succession or make other arrangements satisfactory to Bank of America to
effectively assume the obligations of Bank of America with respect to such Letters of Credit.

     11.07 Treatment of Certain Information; Confidentiality. Each of Agent, Lenders and the L/C
Issuer agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective
partners, directors, officers, employees, agents, advisors and representatives (it being understood
that the Persons to whom such disclosure is made will be informed of the confidential nature of
such Information and instructed to keep such Information confidential), (b) to the extent requested
by any regulatory authority, purporting to have jurisdiction over it (including any self-regulatory
authority, such as the National Association of Insurance Commissioners), (c) to the extent required
by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other
party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan
Document or any action or proceeding relating to this Agreement or any other Loan Document or the
enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions
substantially the same as those of this Section, to (i) any assignee of or Participant in, or any
prospective assignee of or Participant in, any of its rights or obligations under this Agreement or
(ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction
relating to Borrower and its obligations, (g) with the consent of CSI or Borrower or (h) to the
extent such Information (x) becomes publicly available other than as a result of a breach of this
Section or (y) becomes available to Agent, any Lender, the L/C Issuer or any of their respective
Affiliates on a nonconfidential basis from a source other than CSI or Borrower. For purposes of
this Section, “Information” means all information received from CSI or Borrower or any
Subsidiary relating to CSI, Borrower or any Subsidiary or any of their respective businesses, other
than any such information that is available to Agent, any Lender or the L/C Issuer on a
nonconfidential basis prior to disclosure by CSI, Borrower or any Subsidiary, provided
that, in the case of information received from CSI, Borrower or any Subsidiary after the date
hereof, such information is clearly identified at the time of delivery as confidential. Any Person
required to maintain the confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has exercised the same
degree of care to maintain the confidentiality of such Information as such Person would accord to
its own confidential information. Each of Agent, the Lenders and the L/C Issuer acknowledges that
(a) the Information may include material non-public information concerning CSI, Borrower or a
Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use
of material non-public information and (c) it will handle such material non-public information in
accordance with applicable Law, including United States Federal and state securities Laws.

105

 

     11.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each
Lender, the L/C Issuer and each of their respective Affiliates is hereby authorized at any time and
from time to time, to the fullest extent permitted by applicable law, to set off and apply any and
all deposits (general or special, time or demand, provisional or final, in whatever currency) at
any time held and other obligations (in whatever currency) at any time owing by such Lender, the
L/C Issuer or any such Affiliate to or for the credit or the account of Borrower or any other Loan
Party against any and all of the obligations of Borrower or such Loan Party now or hereafter
existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer or any
such Affiliate, irrespective of whether or not such Lender or the L/C Issuer shall have made any
demand under this Agreement or any other Loan Document and although such obligations of Borrower or
such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender or
the L/C Issuer different from the branch or office holding such deposit or obligated on such
indebtedness. The rights of each Lender, the L/C Issuer and their respective Affiliates under this
Section are in addition to other rights and remedies (including other rights of setoff) that such
Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer
agrees to notify Borrower and Agent promptly after any such setoff and application,
provided that the failure to give such notice shall not affect the validity of such setoff
and application.

     11.09 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any
Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the
maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If
Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess
interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal,
refunded to Borrower. In determining whether the interest contracted for, charged, or received by
Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable
Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than
interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate,
allocate, and spread in equal or unequal parts the total amount of interest throughout the
contemplated term of the Obligations hereunder.

     11.10 Counterparts; Integration; Effectiveness. This Agreement and the other Loan Documents
may be executed in counterparts (and by different parties hereto in different counterparts), each
of which shall constitute an original, but all of which when taken together shall constitute a
single contract. This Agreement and the other Loan Documents constitute the entire contract among
the parties relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 4.01, this Agreement and the other Loan Documents shall become effective when they
shall have been executed by Agent and when Agent shall have received counterparts hereof that, when
taken together, bear the signatures of each of the other parties hereto. Delivery of an executed
counterpart of a signature page of this Agreement or any other Loan Document by telecopy shall be
effective as delivery of a manually executed counterpart of this Agreement and the other Loan
Documents.

     11.11 Survival of Representations and Warranties. All representations and warranties made
hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or
in connection herewith or therewith shall survive the execution and

106

 

delivery hereof and thereof.
Such representations and warranties have been or will be relied upon by Agent and each Lender,
regardless of any investigation made by Agent or any Lender or on their behalf and notwithstanding
that Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit
Extension, and shall continue in full force and effect as long as any Loan or any other Obligation
hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

     11.12 Severability. If any provision of this Agreement or the other Loan Documents is held to
be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the
remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the
illegal, invalid or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the illegal, invalid or unenforceable provisions. The
invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

     11.13 Replacement of Lenders. If any Lender requests compensation under Section 3.04,
or if Borrower is required to pay any additional amount to any Lender or any Governmental Authority
for the account of any Lender pursuant to Section 3.01, or if any Lender is a Defaulting
Lender, then, in each case, Borrower may, at its sole expense and effort, upon notice to such
Lender and Agent, require such Lender to assign and delegate, without recourse (in accordance with
and subject to the restrictions contained in, and consents required by, Section 11.06), all
of its interests, rights and obligations under this Agreement and the related Loan Documents to an
assignee that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment), provided that:

     (a) Borrower shall have paid to Agent the assignment fee specified in Section
11.06(b);

     (b) such Lender shall have received payment of an amount equal to the outstanding principal of
its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to
it hereunder and under the other Loan Documents (including any amounts under Section 3.05)
from the assignee (to the extent of such outstanding principal and accrued interest and fees) or
Borrower (in the case of all other amounts);

     (c) in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments thereafter; and

     (d) such assignment does not conflict with applicable Laws.

     A Lender shall not be required to make any such assignment or delegation if, prior thereto, as
a result of a waiver by such Lender or otherwise, the circumstances entitling Borrower to require
such assignment and delegation cease to apply.

107

 

     11.14 Governing Law; Jurisdiction; Etc.

     (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK.

     (b) SUBMISSION TO JURISDICTION. BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND
UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE
COURTS OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK AND OF
THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT
FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES
HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL
JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS
AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT AGENT, ANY LENDER OR THE L/C
ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT AGAINST BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION.

     (c) WAIVER OF VENUE. BORROWER AND EACH OTHER LOAN PARTY IRREVOCABLY AND
UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT
MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF
THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION
OR PROCEEDING IN ANY SUCH COURT.

     (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS
IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

     11.15 Waiver of Right to Trial by Jury. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL

108

 

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

     No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction
contemplated hereby (including in connection with any amendment, waiver or other modification
hereof or of any other Loan Document), the Borrower and each other Loan Party acknowledges and
agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the arranging and other
services regarding this Agreement provided by the Agent and the Arrangers, are arm’s-length
commercial transactions between the Borrower and each other Loan Party and their respective
Affiliates, on the one hand, and the Agent and the Arranger, on the other hand, (B) each of the
Borrower and the other Loan Parties has consulted its own legal, accounting, regulatory and tax
advisors to the extent it has deemed appropriate, and (C) the Borrower and each other Loan Party is
capable of evaluating, and understands and accepts, the terms, risks and conditions of the
transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Agent and the
Arranger each is and has been acting solely as a principal and, except as expressly agreed in
writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent
or fiduciary for the Borrower, any other Loan Party or any of their respective Affiliates or any
other Person and (B) neither the Agent nor the Arranger has any obligation to the Borrower, any
other Loan Party or any of their respective Affiliates with respect to the transactions
contemplated hereby except those obligations expressly set forth herein and in the other Loan
Documents and (iii) the Agent, the Arranger and their respective Affiliates may be engaged in a
board range of transactions that involve interests that differ from those of the Borrower, the
other Loan Parties and their respective Affiliates, and neither the Agent nor the Arranger has any
obligation to disclose any of such interests to the Borrower, any other Loan Party or any of their
respective Affiliates. To the fullest extent permitted by law, each of the Borrower and the other
Loan Parties hereby waives and releases any claims that it may have against the Agent and the
Arranger with respect to any breach or alleged breach of agency or fiduciary duty in connection
with any aspect of any transaction contemplated hereby.

     11.16 USA PATRIOT Act Notice. Each Lender that is subject to the Act (as hereinafter defined)
and Agent (for itself and not on behalf of any Lender) hereby notifies Borrower that pursuant to
the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Act”), it is required to obtain, verify and record information that identifies
Borrower, which information includes the name and address of Borrower and other information that
will allow such Lender or Agent, as applicable, to identify Borrower in accordance with the Act.

109

 

     11.17 Intercreditor Agreement. Each Lender by its execution hereof acknowledges and agrees
to be bound by the terms and provisions of the Intercreditor Agreement and hereby authorizes the
Agent to execute and enter into the Intercreditor Agreement on its behalf.

[Signature pages follow.]

110

 

     11.18 Waiver of Appraisal Rights. The laws of South Carolina provide that in any real estate
foreclosure proceeding a defendant against whom a personal judgment is taken or asked may within
thirty days after the sale of the Property apply to the court for an order of appraisal. The
statutory appraisal value as approved by the court would be substituted for the high bid and may
decrease the amount of any deficiency owing in connection with the transaction. THE BORROWER
HEREBY WAIVES AND RELINQUISHES THE STATUTORY APPRAISAL RIGHTS WHICH MEANS THE HIGH BID AT THE
JUDICIAL FORECLOSURE SALE WILL BE APPLIED TO THE DEBT REGARDLESS OF ANY APPRAISED VALUE OF THE
PROPERTY.

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

	 	 	 	 	 	 	 	 	 
	 	 	COGDELL SPENCER LP, a Delaware limited

partnership	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	CS Business Trust I, a Maryland

Business trust, its General Partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 	 	 	 	Name: Charles M. Handy	 	 
	 	 	 	 	Title: Chief Financial Officer	 	 

Cogdell Spencer LP Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as Administrative

Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Scott McClintock	 	 
	 	 	Title: Senior Vice President	 	 

Cogdell Spencer LP Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as Swing Line

Lender, L/C Issuer and as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Scott McClintock	 	 
	 	 	Title: Senior Vice President	 	 

Cogdell Spencer LP Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Wesley G. Carter	 	 
	 	 	Title: Director	 	 

Cogdell Spencer LP Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	BRANCH BANKING AND TRUST COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: H. Wright Uzzell Jr.	 	 
	 	 	Title: Senior Vice President	 	 

Cogdell Spencer LP Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	CITICORP NORTH AMERICA, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Ricardo James	 	 
	 	 	Title: Vice President	 	 

Cogdell Spencer LP Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	KEYBANK NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel Stegemoeller	 	 
	 	 	Title: Sr. Banker	 	 

Cogdell Spencer LP Credit Agreement

Signature Page

 

 

	 	 	 	 	 	 	 
	 	 	M&I MARSHALL & ILSLEY BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Brian S. Fisher	 	 
	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Jeffrey T. Ticknor	 	 
	 	 	Title: Senior Vice President	 	 

Cogdell Spencer LP Credit Agreement

Signature Page

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]