Document:

exv10w5

 

Exhibit 10.5

AMENDED AND RESTATED EXECUTIVE AGREEMENT

     THIS AMENDED AND RESTATED EXECUTIVE AGREEMENT (this “Agreement”) is made effective as of the
21st day of December, 2006, by and between webMethods, Inc., a Delaware corporation (the
“Company”), and David L. Mitchell (the “Executive”).

     WHEREAS, the Executive is presently employed by the Company;

     WHEREAS, the Board of Directors of the Company (the “Board”), acting through its Compensation
Committee, recognizes that the Executive’s contribution to the growth and success of the Company
has been and continues to be substantial;

     WHEREAS, the Board desires to provide for certain arrangements in the event that the
Executive’s employment with the Company is terminated under certain circumstances; and

     WHEREAS, the Company and the Executive desire to enter into this Agreement on the terms and
conditions set forth below.

     NOW, THEREFORE, in consideration of the promises and the respective covenants and agreements
of the parties herein contained, and of the continued employment of the Executive by the Company,
the parties hereto, intending to be legally bound, do hereby agree as follows:

     1. Definitions. For purposes of this Agreement:

          (a) “Cause” shall mean the Executive’s (i) theft, fraud, material dishonesty or gross
negligence in the conduct of the Company’s business, (ii) continuing neglect of the Executive’s
duties and responsibilities that has a material adverse effect on the Company (which neglect is not
cured within fifteen (15) days after receipt of written notice by the Executive specifying the
particulars of such neglect), or (iii) conviction of a felony (not involving an automobile). For
purposes of this Agreement, any purported termination of the Executive’s employment shall be
presumed to be other than for Cause, unless the Notice of Termination includes a copy of a
resolution duly adopted by the Board which finds Cause to exist and specifies the particulars
thereof in detail.

          (b) “Good Reason” shall mean (i) a decrease in the Executive’s base salary, (ii) a material
reduction or material adverse change in the Executive’s authorities, duties or job responsibilities
(which material reduction or material adverse change is not cured within fifteen (15) days after
written notice by the Executive specifying the particulars of such reduction or change in such
authorities, duties or job responsibilities, the notice of which is given to the Company within
fifteen (15) days of such reduction or change), or (iii) a geographic relocation of the Executive
without the Executive’s consent more than thirty (30) miles from the current location of the
Executive’s office as of the date hereof.

 

 

          (c) A “Change in Control” shall be deemed to have occurred if (A) any person (as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of securities of the Company representing fifty percent (50%) or more of
the combined voting power of the Company’s then outstanding securities, (B) during any period of
two (2) consecutive years during the term of this Agreement, individuals who at the beginning of
such period constitute the Board cease for any reason to constitute at least a majority thereof,
unless the election of each director who was not a director at the beginning of such period has
been approved in advance by directors representing at least two-thirds of the directors then in
office who were directors at the beginning of the period, (C) the shareholders of the Company
approve a merger or consolidation involving the Company that would result in a change of ownership
of a majority of the outstanding shares of capital stock of the Company, or (D) the shareholders of
the Company approve a plan of liquidation or dissolution of the Company or the sale or disposition
by the Company of all or substantially all the Company’s assets.

          (d) The “Date of Termination” with respect to any purported termination of the Executive’s
employment means the date specified as such in the Notice of Termination. In the case of
termination of the Executive’s employment (i) by the Company for Cause or (ii) by the Executive for
any reason, the Date of Termination shall be a date not less than seven (7) days from the date the
Notice of Termination is given. In the case of termination of the Executive’s employment by the
Company without Cause, the Date of Termination shall be a date not less than thirty (30) days from
the date the Notice of Termination is given.

          (e) “Notice of Termination” means a written notice of termination of employment by the
terminating party, which notice shall specify a Date of Termination and the particular facts and
circumstances of such termination, including the existence of Cause or Good Reason.

     2. Termination of Employment.

          (a) The Executive’s employment may be terminated at any time by the Company, with or without
Cause, by delivery of a Notice of Termination to the Executive. The Executive’s employment may be
terminated at any time by the Executive, without Good Reason, by delivery of a Notice of
Termination to the Company. The Executive’s employment may be terminated by the Executive for Good
Reason, by delivery of a Notice of Termination to the Company within thirty (30) days of the later
occurrence of the event constituting Good Reason or the termination of the Corporation’s cure
period, if any, with respect to the event constituting Good Reason.

          (b) In the event the Company terminates the Executive’s employment without Cause, or in the
event the Executive terminates the Executive’s employment for Good Reason, then the Company shall,
subject to Section 7 hereof, pay the Executive’s base salary through the date of such termination
and shall continue to pay to the Executive the Executive’s monthly base salary, and shall
administer and pay for the Executive’s life, disability, accident and health insurance benefits
substantially similar to those which Executive is receiving immediately prior to the Notice of
Termination, until the first anniversary of the Date of Termination; provided,

- 2 -

 

however, that the Company’s obligations under this Section 2(b) shall cease upon the
Executive’s commencement of full-time employment with another employer. Notwithstanding the
foregoing, (i) the Company’s obligations under this Section 2(b), if any, shall be contingent upon
the Executive executing a general release of claims in favor of the Company, and its officers,
directors and affiliates, in a form provided by the Company, and (ii) in the event Executive’s
termination of employment falls within one (1) year after the consummation of a Change in Control,
the Company shall have no obligation under this Section 2(b).

          (c) If there is a Change in Control of the Company or there has been a public announcement of
a Change in Control of the Company (provided, however, that consummation of the
Change in Control of the Company shall be a condition precedent to the effectiveness of this
provision) and at any time within one (1) year after the consummation of a Change in Control (i)
the Company terminates the Executive’s employment without Cause, or (ii) the Executive terminates
the Executive’s employment for Good Reason, then the Company (x) shall pay the Executive’s base
salary through the Date of Termination, (y) shall pay to the Executive, in a lump sum in cash
within ten (10) business days after the Date of Termination, an amount equal to one and one half (1
1/2) times the sum of (A) the Executive’s base salary in effect immediately prior to the
occurrence of the circumstance giving rise to the Notice of Termination given in respect thereof
and (B) the maximum bonus or incentive compensation amount for which the Executive is eligible to
be awarded pursuant to any bonus or incentive compensation plan, calculated based upon the bonus
period in which the Date of Termination occurs and annualized to the extent that such bonus period
does not reflect a twelve (12) month period and (C) for an eighteen (18) month period after the
Date of Termination, the Company shall administer and pay for the Executive’s life, disability,
accident and health insurance benefits substantially similar to those which Executive is receiving
immediately prior to the Notice of Termination. The Company’s obligations under this Section 2(c),
if any, shall be contingent upon the Executive executing a general release of all claims in favor
of the Company, and its officers, directors and affiliates, in a form provided by the Company.

          (d) In the event of the death of the Executive, this Agreement shall terminate, and shall be
of no further force or effect; provided, however, that notwithstanding the
foregoing, the death of the Executive shall not in any way affect any payment obligations of the
Company pursuant to Section 2(b) or Section 2(c) hereof which exist at the time of such death.

     3. Successors; Binding Agreement. This Agreement and all rights of the Executive
hereunder shall inure to the benefit of and be enforceable by the Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.
If the Executive should die while any amounts would still be payable to the Executive hereunder if
the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be
paid in accordance with the terms of this Agreement to the Executive’s devisee, legatee, or other
designee or, if there be no such designee, to the Executive’s estate.

     4. Notice. For the purposes of this Agreement, notices, demands and all other
communications provided for in this Agreement shall be in writing and shall be deemed to have been
duly given when delivered by hand delivery or via reputable overnight delivery service, or (unless
otherwise specified) mailed by United States registered mail, return receipt requested, postage
prepaid, addressed, if to the Executive, to the Executive’s home address as it appears on

- 3 -

 

the records of the Company, and if to the Company, to the Company’s executive headquarters, or
to such other address as either party may have furnished to the other in writing in accordance
herewith, except that notices of change of address shall be effective only upon receipt.

     5. Prior Agreement. All prior agreements between the Company and the Executive with
respect to the subject matter hereof (except for stock option agreements), including without
limitation the Executive Agreement, dated as of March 9, 2004, by and between the Company and the
Executive, are hereby superseded and terminated effective as of the date hereof and shall be
without further force or effect. This Agreement is intended to be, and shall be, a complete
integration of all prior agreements and discussions between the Company and the Executive with
respect to the subject matter hereof (except as set forth in stock option agreements between the
Company and the Executive).

     6. Employment of Executive. Nothing in this Agreement shall be construed as
constituting a commitment, guarantee, agreement or understanding of any kind or nature that the
Company shall continue to employ the Executive, nor shall this Agreement affect in any way the
right of the Company to terminate the employment of the Executive at any time and for any reason.
By the Executive’s execution of this Agreement, the Executive acknowledges and agrees that the
Executive’s employment is “at will.” No change of the Executive’s duties as an employee of the
Company shall result in, or be deemed to be, a modification of any of the terms of this Agreement.

     7. Gross-Up for Excess Parachute Payments. In the event of a Change in Control, or
other event constituting a change in the ownership or effective control of the Company or ownership
of a substantial portion of the assets of the Company described in Section 280G(b)(2)(A)(i) of the
United States Internal Revenue Code of 1986, as amended (the “Code”), the Company, at its sole
expense, shall cause its independent auditors promptly to review all payments, accelerations,
distributions and benefits that have been made to or provided to, and are to be made, or may be
made, to or provided to, the Executive under this Agreement, and any other agreement or plan
benefiting the Executive (collectively the “Original Payments”), to determine the applicability of
Section 4999 of the Code to the Executive in connection with such event (other than under this
Section 7). If the Company’s independent auditors determine that the Original Payments are subject
to excise taxes under Section 4999 of the Code (the “Excise Tax”), then an additional amount shall
be paid to the Executive (the “Gross-Up Amount”) such that the net proceeds of the Gross-Up Amount
to the Executive, after deduction of the Excise Tax (including interest and penalties) and any
federal, state and local income taxes and employment taxes (including interest and penalties) but
before deduction of any interest or additional tax under Sections 409A(a)(1)(B) or 409A(b)(5) of
the Code (and any penalties related to such interest or additional taxes) (the “409A Taxes”) upon
the Gross-Up Amount, shall be equal to the Excise Tax on the Original Payments. The Company’s
independent auditors will perform the calculations in conformity with the foregoing provisions and
will provide the Executive with a copy of their calculations. The intent of the parties is that
the Company shall be solely responsible for, and shall pay, any Excise Tax on the Original
Payment(s) and Gross-Up Amount and any income and employment taxes other than the 409A Taxes (but
including, without limitation, other penalties and interest on such income and employment taxes)
imposed on any Gross-Up Amount payable hereunder. If no determination by the Company’s independent
auditors is made prior to the time the Executive is required to file a tax return

- 4 -

 

reflecting Excise Taxes on any portion of the Original Payment(s), the Executive will be
entitled to receive a Gross-Up Amount calculated on the basis of the Excise Tax that the Executive
reports in such tax return, within thirty (30) days after the filing of such tax return. The
Executive agrees that, for the purposes of the foregoing sentence, the Executive is not required to
file a tax return until the Executive has obtained the maximum number and length of filing
extensions available, and Executive shall have provided a copy of the relevant portions of such tax
return to the Company not less than ten (10) days prior to filing such tax return. If any tax
authority finally determines that a greater Excise Tax should be imposed upon the Original Payments
or the Gross-Up Amount than is determined by the Company’s independent auditors or reflected in the
Executive’s tax returns, the Executive shall be entitled to receive an additional Gross-Up Amount
calculated on the basis of the additional amount of Excise Tax determined to be payable by such tax
authority (including related penalties and interest) from the Company within thirty (30) days after
such determination. The Executive shall cooperate with the Company as it may reasonably request to
permit the Company (at its sole expense) to contest the determination of such taxing authority to
minimize the amount payable under this Section 7. If any tax authority finally determines the
Excise Tax payable by the Executive to be less than the amount taken into account hereunder in
calculating the Gross-Up Amount, the Executive shall repay the Company, within thirty (30) days
after the Executive’s receipt of a tax refund resulting from that determination, to the extent of
such refund, the portion of the Gross-Up Amount attributable to such reduction (including the
refunded portion of Gross-Up Amount attributable to the Excise Tax and federal, state and local
income and employment taxes imposed on the Gross-Up Amount being repaid, less any additional income
tax resulting from receipt of such refund).

     8. No Mitigation. The Company agrees that, if the Executive’s employment is
terminated during the term of this Agreement, the Executive is not required to seek other
employment or to attempt in any way to reduce any amounts payable to the Executive by the Company.
Further, the amount of any payment provided hereunder shall not be reduced by any compensation
earned by the Executive.

     9. Miscellaneous. No provisions of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing signed by the
Executive and a duly authorized officer of the Company. No waiver by either party hereto at any
time of any breach by the other hereto of, or compliance with, any condition or provision of this
Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time. No agreements or
representations, oral or otherwise, express or implied, with respect to the subject matter hereof
have been made by either party which are not set forth expressly in this Agreement. The validity,
interpretation, construction and performance of this Agreement shall be governed by the laws of the
Commonwealth of Virginia, without regard to provisions thereof relating to choice of law or
conflicts of law. This Agreement may be executed in two or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument.
This Agreement may be executed by facsimile signatures.

     10. Validity. The invalidity or unenforceability of any provision or provisions of
this Agreement shall not affect the validity or enforceability of any other provision of this
Agreement, which shall remain in full force and effect.

- 5 -

 

     11. Section 409A Compliance. Notwithstanding anything in this Agreement or any other
agreements between the Company and the Executive (“Other Agreements”) to the contrary, if, based on
Internal Revenue Service guidance available as of the date the payment or provision of any amount
or other benefit is required to be made under this Agreement (including, but not limited to, any
payment, accelerated vesting or benefit continuation right, Gross-Up Amount under Section 7 hereof
or Counsel Fees under Section 8 hereof) or under any Other Agreements, (a) the Company reasonably
determines that the payment or provision of such amount or other benefit at the time specified in
such agreements may subject the Executive to 409A Taxes “additional tax” and “interest” under
Section 409A(a)(1)(B) of the Code (together with any interest or penalties imposed with respect to,
or in connection with, such tax, the “409A Taxes”), because the Executive is a “specified employee”
within the meaning of Section 409A(a)(2)(B)(i) of the Code or otherwise, and (b) payment of such
amount (or portion of such amount) or provision of such benefit (or portion of such benefit) at a
later date would likely avoid any such 409A Taxes, then the payment or provision thereof shall be
postponed to the earliest business day on which the Company reasonably determines such amount or
benefit can be paid or provided without incurring any such 409A Taxes, but in no event later than
the first business day after the six-month anniversary of the Executive’s severance from service
within the meaning of Section 409A(a)(2) of the Code (the “Delayed Payment Date”). In the event a
benefit is to be provided during the period commencing on the Executive’s separation from service
and ending on the Delayed Payment Date and the provision of such benefit during that period would
be treated as a payment of nonqualified deferred compensation in violation of Section
409A(a)(2)(B)(i) of the Code, then continuation of such benefit during that period shall be
conditioned on payment by the Executive of the full premium or other cost of coverage and as of the
Delayed Payment Date the Company shall reimburse the Executive for the premiums or other cost of
coverage paid by the Executive, which but for this paragraph would have been paid by the Company.
On the Delayed Payment Date the Executive shall receive in a lump sum all payments which were
delayed and all remaining payments shall commence to be paid in accordance with the terms of this
Agreement or the Other Agreement. The Company and the Executive may agree to take other actions to
avoid the imposition of 409A Taxes at such time and in such manner as permitted under Section 409A
of the Code. In addition, in the event that any amount or other benefit which is required to be
made under this Agreement is treated as a payment under a nonqualified deferred compensation plan
within the meaning of Section 409A of the Code, no acceleration of payment shall be made if such
acceleration of payment would result in imposition of 409A Taxes. The Company shall have no
liability to the Executive for 409A Taxes (or any loss incident to the imposition of such taxes) in
the event that Executive is determined to be liable for 409A Taxes in connection with any payment
or provision of any amount or other benefit under this Agreement or Other Agreements.

[Signatures appear on following page.]

- 6 -

 

     IN WITNESS WHEREOF, the parties have executed this Executive Agreement on the date and year
first above written.

	 	 	 	 	 
	 	 	WEBMETHODS, INC., a Delaware corporation
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Douglas McNitt
	 

	 	 	 	 
	 

	 	Name:
	 	Douglas McNitt
	 

	 	 	 	 
	 

	 	Title:
	 	 Executive Vice President
	 

	 	 	 	 

	 	 	 	 	 
	 	 	EXECUTIVE:
	 
	 	 	 	 
	 

	 	
	 	/s/ David Mitchell
	 	 	 	 	 
	 

	 	 	 	David L. Mitchellexv10w1

 

Exhibit 10.1

 

 

CREDIT AGREEMENT

Dated
as of February 6, 2007

among

NEUSTAR, INC.

as the Borrower,

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent, Swing Line Lender

and

L/C Issuer,

and

The Other Lenders Party Hereto

J.P. MORGAN SECURITIES INC.,

as

Lead Arranger and as Book Manager

CREDIT SUISSE SECURITIES (USA) LLC,

as Syndication Agent

and

DEUTSCHE BANK TRUST COMPANY AMERICAS

and

SUN TRUST BANK,

as Documentation Agents

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	Section	 	 	 	 	Page	 
	 
	ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS	 	 	1	 
	1.01

	 	Defined Terms
	 	 	1	 
	1.02

	 	Other Interpretive Provisions
	 	 	22	 
	1.03

	 	Accounting Terms
	 	 	23	 
	1.04

	 	Rounding
	 	 	23	 
	1.05

	 	Times of Day
	 	 	23	 
	1.06

	 	Letter of Credit Amounts
	 	 	23	 
	 
	 	 	 	 	 	 
	ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS	 	 	24	 
	2.01

	 	Committed Loans
	 	 	24	 
	2.02

	 	Borrowings, Conversions and Continuations of Committed Loans
	 	 	24	 
	2.03

	 	Letters of Credit
	 	 	25	 
	2.04

	 	Swing Line Loans
	 	 	30	 
	2.05

	 	Prepayments
	 	 	31	 
	2.06

	 	Termination or Reduction of Commitments
	 	 	32	 
	2.07

	 	Repayment of Loans
	 	 	32	 
	2.08

	 	Interest
	 	 	32	 
	2.09

	 	Fees
	 	 	33	 
	2.10

	 	Computation of Interest and Fees
	 	 	34	 
	2.11

	 	Evidence of Debt
	 	 	34	 
	2.12

	 	Payments Generally; Administrative Agent’s Clawback
	 	 	35	 
	2.13

	 	Sharing of Payments by Lenders
	 	 	37	 
	2.14

	 	Increase in Commitments
	 	 	38	 
	 
	 	 	 	 	 	 
	ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY	 	 	39	 
	3.01

	 	Taxes
	 	 	39	 
	3.02

	 	Illegality
	 	 	41	 
	3.03

	 	Inability to Determine Rates
	 	 	41	 
	3.04

	 	Increased Costs; Reserves on Eurodollar Rate Loans
	 	 	42	 
	3.05

	 	Compensation for Losses
	 	 	43	 
	3.06

	 	Mitigation Obligations; Replacement of Lenders
	 	 	44	 
	3.07

	 	Survival
	 	 	44	 

i

 

	 	 	 	 	 	 	 
	Section	 	 	 	 	Page	 
	 
	ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	 	 	44	 
	4.01

	 	Conditions of Initial Credit Extension
	 	 	44	 
	4.02

	 	Conditions to all Credit Extensions
	 	 	46	 
	 
	 	 	 	 	 	 
	ARTICLE V. REPRESENTATIONS AND WARRANTIES	 	 	47	 
	5.01

	 	Existence, Qualification and Power
	 	 	47	 
	5.02

	 	Authorization; No Contravention
	 	 	47	 
	5.03

	 	Governmental Authorization; Other Consents
	 	 	47	 
	5.04

	 	Binding Effect
	 	 	47	 
	5.05

	 	Financial Statements; No Material Adverse Effect
	 	 	48	 
	5.06

	 	Litigation
	 	 	48	 
	5.07

	 	No Default
	 	 	48	 
	5.08

	 	Ownership of Property; Liens
	 	 	48	 
	5.09

	 	Environmental Compliance
	 	 	49	 
	5.10

	 	Insurance
	 	 	49	 
	5.11

	 	Taxes
	 	 	49	 
	5.12

	 	ERISA Compliance
	 	 	49	 
	5.13

	 	Subsidiaries
	 	 	50	 
	5.14

	 	Margin Regulations; Investment Company Act
	 	 	50	 
	5.15

	 	Disclosure
	 	 	50	 
	5.16

	 	Compliance with Laws
	 	 	50	 
	5.17

	 	Intellectual Property; Licenses, Etc.
	 	 	51	 
	 
	 	 	 	 	 	 
	ARTICLE VI. AFFIRMATIVE COVENANTS	 	 	51	 
	6.01

	 	Financial Statements
	 	 	51	 
	6.02

	 	Certificates; Other Information
	 	 	52	 
	6.03

	 	Notices
	 	 	54	 
	6.04

	 	Payment of Tax Obligations
	 	 	54	 
	6.05

	 	Preservation of Existence, Etc.
	 	 	54	 
	6.06

	 	Maintenance of Properties
	 	 	54	 
	6.07

	 	Maintenance of Insurance
	 	 	55	 
	6.08

	 	Compliance with Laws
	 	 	55	 
	6.09

	 	Books and Records
	 	 	55	 
	6.10

	 	Inspection Rights
	 	 	55	 
	6.11

	 	Use of Proceeds
	 	 	55	 

ii

 

	 	 	 	 	 	 	 
	Section	 	 	 	 	Page	 
	 
	6.12

	 	Additional Guarantors
	 	 	55	 
	6.13

	 	Material Contracts
	 	 	56	 
	 
	 	 	 	 	 	 
	ARTICLE VII. NEGATIVE COVENANTS	 	 	56	 
	7.01

	 	Liens
	 	 	56	 
	7.02

	 	Investments
	 	 	57	 
	7.03

	 	Indebtedness
	 	 	59	 
	7.04

	 	Fundamental Changes
	 	 	61	 
	7.05

	 	Dispositions
	 	 	61	 
	7.06

	 	Restricted Payments
	 	 	62	 
	7.07

	 	Change in Nature of Business
	 	 	63	 
	7.08

	 	Transactions with Affiliates
	 	 	63	 
	7.09

	 	Burdensome Agreements
	 	 	64	 
	7.10

	 	Use of Proceeds
	 	 	64	 
	7.11

	 	Financial Covenants
	 	 	65	 
	7.12

	 	Capital Expenditures
	 	 	65	 
	7.13

	 	Acquisitions
	 	 	65	 
	 
	 	 	 	 	 	 
	ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES	 	 	66	 
	8.01

	 	Events of Default
	 	 	66	 
	8.02

	 	Remedies Upon Event of Default
	 	 	68	 
	8.03

	 	Application of Funds
	 	 	68	 
	 
	 	 	 	 	 	 
	ARTICLE IX. ADMINISTRATIVE AGENT	 	 	69	 
	 
	 	 	 	 	 	 
	ARTICLE X. MISCELLANEOUS	 	 	71	 
	10.01

	 	Amendments, Etc.
	 	 	71	 
	10.02

	 	Notices; Effectiveness; Electronic Communication
	 	 	73	 
	10.03

	 	No Waiver; Cumulative Remedies
	 	 	74	 
	10.04

	 	Expenses; Indemnity; Damage Waiver
	 	 	75	 
	10.05

	 	Payments Set Aside
	 	 	77	 
	10.06

	 	Successors and Assigns
	 	 	77	 
	10.07

	 	Treatment of Certain Information; Confidentiality
	 	 	82	 
	10.08

	 	Right of Setoff
	 	 	83	 
	10.09

	 	Interest Rate Limitation
	 	 	83	 
	10.10

	 	Counterparts; Integration; Effectiveness
	 	 	83	 
	10.11

	 	Survival
	 	 	84	 

iii

 

	 	 	 	 	 	 	 
	Section	 	 	 	 	Page	 
	 
	10.12

	 	Severability
	 	 	84	 
	10.13

	 	Replacement of Lenders
	 	 	84	 
	10.14

	 	Governing Law; Jurisdiction; Etc.
	 	 	85	 
	10.15

	 	Waiver of Jury Trial
	 	 	86	 
	10.16

	 	No Advisory or Fiduciary Responsibility
	 	 	86	 
	10.17

	 	USA PATRIOT Act Notice
	 	 	87	 
	10.18

	 	Time of the Essence
	 	 	87	 
	10.19

	 	Lender Neutrality to Telecommunications Service Providers.
	 	 	87	 
	10.20

	 	Release of Guarantors
	 	 	89	 
	10.21

	 	ENTIRE AGREEMENT
	 	 	89	 
	SIGNATURES	 	 	S-1	 

iv

 

SCHEDULES

	 	 	 	 	 
	 	2.01	 	 	Commitments and Applicable Percentages

	 	2.03	(c) 	 	Letter
of Credit

	 	5.13	 	 	Subsidiaries; Other Equity Investments

	 	5.17	 	 	Intellectual Property Matters

	 	6.12	 	 	Immaterial
Subsidiaries

	 	7.02	 	 	Investments

	 	7.03	 	 	Existing Indebtedness

	 	7.08	 	 	Affiliate
Contracts

	 	7.09	 	 	Burdensome
Agreements

	 	10.02	 	 	Administrative Agent’s Office; Certain Addresses for Notices

EXHIBITS

	 	 	 	 
	 	 	 	Form of

	 
	 	A
	 	Committed Loan Notice

	 	B
	 	Swing Line Loan Notice

	 	C
	 	Note

	 	D
	 	Compliance Certificate

	 	E
	 	Assignment and Assumption

	 	F
	 	Guaranty

	 	G	 	Opinion Matters 

	 	H	 	Subordinated Debt Terms

v

 

CREDIT AGREEMENT

     This
CREDIT AGREEMENT (“Agreement”) is entered into as of February 6, 2007, among
NEUSTAR, INC., a Delaware corporation (the “Borrower”), each lender from time to time party
hereto (collectively, the “Lenders” and individually, a “Lender”), and JPMORGAN
CHASE BANK, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

     The Borrower has requested that the Lenders provide a revolving credit facility, and the
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 purchase or acquisition by any Person of (a) more than 50% of
the Equity Interests with ordinary voting power of another Person or (b) all or substantially all
of the property (other than Equity Interests) of another Person, whether or not involving a merger
or consolidation with such Person.

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

     “Administrative Agent’s Office” means the Administrative Agent’s address and, as
appropriate, account as set forth on Schedule 10.02, or such other address or account as
the Administrative Agent may from time to time notify to the Borrower and the Lenders.

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

     “Agent” means each of the Administrative Agent and, to the extent such Person is a
party hereto, Credit Suisse Securities (USA) LLC, in its capacity as syndication agent, and
Deutsche Bank Trust Company Americas and Sun Trust Bank, in their respective capacity as
documentation agent.

     “Aggregate Commitments” means the Commitments of all the Lenders.

     “Agreement” means this Credit Agreement.

1

 

     “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 8.02 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 the following percentages per annum, based upon the
Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the
Administrative Agent pursuant to Section 6.02(b):

Applicable Rate

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Eurodollar Rate +	 	 	 
	Pricing Level	 	 	Consolidated Leverage Ratio	 	 	Commitment Fee	 	 	Letter of Credit Fee	 	 	Base Rate +
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	1	 	 	 	Less than 0.75 to
1.00

	 	 	 	0.150	%	 	 	 	0.625	%	 	 	 	0.000	%
	 	2	 	 	 	Greater than or
equal to 0.75 to
1.00 but Less than
1.50 to 1.00

	 	 	 	0.175	%	 	 	 	0.750	%	 	 	 	0.000	%
	 	3	 	 	 	Greater than or
equal to 1.50 to
1.00 but Less than
2.25 to 1.00

	 	 	 	0.200	%	 	 	 	1.000	%	 	 	 	0.000	%
	 	4	 	 	 	Greater than or
equal to 2.25 to
1.00

	 	 	 	0.250	%	 	 	 	1.250	%	 	 	 	0.250	%

     Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the first Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 6.02(b); provided,
however, that if a Compliance Certificate is not delivered when due in accordance with such
Section, then Pricing Level 4 shall apply as of the first Business Day after the date on which such
Compliance Certificate was required to have been delivered until the date such Compliance
Certificate is delivered in accordance with such Section (other than in respect of the due date),
after which the Applicable Rate shall be based on the Consolidated Leverage Ratio set forth in such
Compliance Certificate. The Applicable Rate in effect from the Closing Date through the first date a Compliance Certificate is delivered pursuant to Section 6.02(b) shall
be determined based upon Pricing Level 2; provided, that if a
Compliance Certificate is delivered at the Closing Date, the
Applicable Rate in effect on the Closing Date through the first date a Compliance Certificate is delivered pursuant to Section 6.02(b)
shall be based on the Consolidated Leverage Ratio contained therein.

2

 

     “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 J.P. Morgan Securities Inc., in its capacity as a lead arranger and
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
10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit
E or any other form approved by the Administrative Agent.

     “Attributable Indebtedness” means, on any date, (a) in respect of any Capital Lease
Obligation of any Person, the capitalized amount thereof that would appear on a balance sheet of
such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic
Lease Obligation, the capitalized amount of the remaining lease payments under the relevant lease
that would appear on a balance sheet of such Person prepared as of such date in accordance with
GAAP if such lease were accounted for as a Capital Lease Obligation.

     “Audited Financial Statements” means the audited consolidated balance sheet of the
Borrower and its Subsidiaries for the fiscal year ended December 31, 2005, and the related
consolidated statements of income or operations, shareholders’ equity and cash flows for such
fiscal year of the Borrower and its Subsidiaries, 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 8.02.

     “Bank” means any national bank, any State bank, and any Federal branch and insured
branch, including any former Savings Association, all as defined in the Federal Deposit Insurance
Act (“FDIA”) or the International Banking Act of 1978, as incorporated into the FDIA.

3

 

     “Base Rate” means, for any day, a rate per annum equal to the greater of (a) the Prime
Rate in effect on such day and (b) the Federal Funds Rate in effect on such day plus 1/2 of 1%. Any
change in the Base Rate due to a change in the Prime Rate or the
Federal Funds Rate shall be effective from and including the effective date of such change in the Prime Rate or the
Federal Funds Rate, respectively.

     “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.

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

     “Borrower Materials” has the meaning specified in Section 6.02.

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

     “Branch” in respect of a Foreign Bank means any office or any place of business of a
Foreign Bank located in any State of the United States at which deposits are received.

     “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 the 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 Lease” means any lease of property, real or personal, which is required to be
accounted for and classified as a capital lease in accordance with GAAP.

     “Capital Lease Obligations” means with regard to any Person as of the date of
determination, the aggregate liability of such Person under Capital Leases reflected on a balance
sheet of such Person in accordance with GAAP.

     “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, and any person or entity acting in its capacity as trustee, agent or other
fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in
Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934), directly or indirectly, of
35% or more of the equity securities of the Borrower entitled to vote for members of the
board of directors or equivalent governing body of the Borrower 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); or

4

 

     (b) during any period of 12 consecutive months, a majority of the members of the board
of directors or other equivalent governing body of the Borrower 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 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).

     “Closing Date” means the first date all the conditions precedent in Section
4.01 are satisfied or waived in accordance with Section 10.01.

     “Code” means the Internal Revenue Code of 1986.

     “Commitment” means, as to each Lender, its obligation to (a) make Committed Loans to
the Borrower pursuant to Section 2.01 and Section 2.03(e), (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, including, without limitation, pursuant to Section 2.14.

     “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 or Section 2.03(e).

     “Committed Loan” has the meaning specified in Section 2.01 and, for the
avoidance of doubt, shall not include any Swing Line Loans.

     “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 in the form of Exhibit
D.

5

 

     “Consolidated EBITDA” means, for any period, for the Borrower and its Subsidiaries on
a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a)
the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated
Interest Charges for such period, (ii) the provision for Federal, state, local and foreign income
taxes payable by the Borrower and its Subsidiaries for such period, (iii) depreciation and amortization expense, (iv) other expenses of the Borrower and its Subsidiaries reducing such
Consolidated Net Income (including any non-cash stock-based compensation expense recognized by the
Borrower) which do not represent a cash item in such period or any future period and (v)
transaction fees, costs and expenses incurred in connection with the consummation of any Permitted
Acquisition and minus (b) the following to the extent included in calculating such
Consolidated Net Income: (i) Federal, state, local and foreign income tax credits of the Borrower
and its Subsidiaries for such period and (ii) all non-cash items increasing Consolidated Net Income
for such period.

     “Consolidated Funded Indebtedness” means, as of any date of determination, for the
Borrower and its Subsidiaries on a consolidated basis, the sum of (a) the outstanding principal
amount of all obligations, whether current or long-term, for borrowed money (including Obligations
hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other
similar instruments, (b) all purchase money Indebtedness, (c) all non-contingent reimbursement or
payment obligations arising under letters of credit (including standby and commercial), bankers’
acceptances, bank guaranties, surety bonds and similar instruments, (d) all obligations in respect
of the deferred purchase price of property or services (other than trade accounts payable in the
ordinary course of business), (e) Attributable Indebtedness in respect of Capital Lease Obligations
and Synthetic Lease Obligations, (f) without duplication, all Guarantees with respect to
outstanding Indebtedness of the types specified in clauses (a) through (e) above of Persons other
than the Borrower or any Subsidiary, and (g) all Indebtedness of the types referred to in clauses
(a) through (f) above of any partnership in which the Borrower or a Subsidiary is a general partner
to the extent that the Borrower or such Subsidiary is liable therefor as a result of such Persons’
ownership interest, except to the extent that such Indebtedness is expressly made Non-Recourse
Debt.

     “Consolidated Interest Charges” means, for any period, for the Borrower and its
Subsidiaries on a consolidated basis, the sum of (a) all interest, premium payments, debt discount,
fees, charges and related expenses of the Borrower and its Subsidiaries in connection with borrowed
money or other extensions of credit (including capitalized interest) or in connection with the
deferred purchase price of assets, in each case to the extent treated as interest in accordance
with GAAP, and (b) the portion of rent expense of the Borrower and its Subsidiaries with respect to
such period under Capital Lease Obligations and Synthetic Lease Obligations that is treated as
interest in accordance with GAAP.

     “Consolidated Interest Coverage Ratio” means, as of any date of determination, the
ratio of (a) Consolidated EBITDA for the period of the four prior consecutive fiscal quarters
ending as of the date of the financial statements most recently delivered by the Borrower pursuant
to Section 6.01(a) or (b), as applicable (or, in the case of Section 7.13, for the
applicable Determination Period), to (b) Consolidated Interest Charges for such period.

     “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a)
Consolidated Senior Funded Indebtedness as of the date of the financial statements most recently
delivered by the Borrower pursuant to Section 6.01(a) or (b), as applicable (or, in
the case of Section 7.13, as of the last day of the applicable Determination Period), to (b)
Consolidated EBITDA for the period of the four consecutive fiscal quarters ending as of the date of
such financial statements (or, in the case of Section 7.13, for the applicable Determination
Period).

6

 

     “Consolidated Net Income” means, for any period, for the Borrower and its Subsidiaries
on a consolidated basis, the net income of the Borrower and its Subsidiaries (excluding
extraordinary gains and extraordinary losses) for that period determined in accordance with GAAP.

     “Consolidated Senior Funded Indebtedness” means, as of any date on which the amount
thereof is to be determined, the aggregate principal amount of all Consolidated Funded Indebtedness
as of such date that is not Subordinated Debt.

     “Contractual Obligation” means, as to any Person, any provision 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 Loan and (b) an L/C Credit
Extension.

     “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 Letter of
Credit Fees, an interest rate equal to (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 Letter of Credit Fees, a rate equal to the
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 the
Administrative Agent or any other Lender any other amount required to be paid by it hereunder
within one Business Day of the date when due, unless the subject of a good faith dispute or unless
such failure has been cured, or (c) has been deemed insolvent or become the subject of a bankruptcy
or insolvency proceeding.

     “Determination Period” has the meaning specified in Section 7.13(a).

7

 

     “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; provided that a Subsidiary of a Foreign Subsidiary
shall not be considered a “Domestic Subsidiary” for purposes of this Agreement.

     “Eligible Assignee” means any Person that meets the requirements to be an assignee
under Section 10.06(b)(iii), (v) and (vi) (subject to such consents, if
any, as may be required under Section 10.06(b)(iii)).

     “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 the
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 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.

     “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 the 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).

8

 

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by the 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 the 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 the Borrower
or any ERISA Affiliate.

     “Eurodollar Rate” means for any Interest Period with respect to a Eurodollar Rate
Loan, a 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 designated by the Administrative 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 Rate” for such
Interest Period shall be the rate per annum determined by the Administrative 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
JPMorgan Chase Bank and with a term equivalent to such Interest Period would be offered by JPMorgan
Chase Bank’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 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 8.01.

     “Excluded Taxes” means, with respect to the Administrative 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 the
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 other jurisdiction in which the Borrower is located and (c) in the case of a
Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section
10.13), 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 the Borrower with respect to such withholding tax
pursuant to Section 3.01(a).

9

 

     “Existing Credit Agreement” means that certain Credit Agreement dated as of August 14,
2002 among the Borrower, Bank of America, N.A., as administrative agent, and the lenders party
thereto, as amended, restated, supplemented, or otherwise modified.

     “FCC” means the Federal Communications Commission.

     “FCC Pre-Approval Letter” means the letter adopted and released January 16, 2007 from
Thomas J. Navin, of the FCC Wireline Competition Bureau, regarding the North American Numbering
Plan Administrator Neutrality Requirements CC Docket No. 92-237.

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

     “Fee
Letter” means the letter agreement, dated February 1, 2007, among the
Borrower, the Administrative Agent and JPMorgan as an Arranger.

     “Foreign Bank” means any company organized under the laws of a foreign country, a
territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, which
engages in the business of banking, or any subsidiary or affiliate, organized under such laws, of
any such company.

     “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than that in which the 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.

     “Foreign Subsidiary” means a Subsidiary that is organized under the laws of a
jurisdiction other than the United States or any state thereof or the District of Columbia and any
Subsidiary of a Foreign Subsidiary.

     “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 business.

     “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.

10

 

     “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).

     “Granting Lender” has the meaning specified in Section 10.06(h).

     “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 the obligee in respect of such
Indebtedness or other obligation that such Indebtedness or obligation will be paid or discharged,
as the case may be, in order 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.

     “Guarantors” means, collectively or individually as the context may require, each
Domestic Subsidiary of the Borrower party to the Guaranty, and each other Person who becomes a
party to the Guaranty (including by way of execution of a Guaranty Joinder Agreement pursuant to
Section 6.12); provided that in each case Domestic Subsidiaries that are Immaterial
Subsidiaries shall not be required to become party to the Guaranty.

     “Guaranty” means the Guaranty made by the Guarantors in favor of the Administrative
Agent and the Lenders, substantially in the form of Exhibit F, or in such other form as may
be satisfactory to the Administrative Agent.

11

 

     “Guaranty Joinder Agreement” means each Guaranty Joinder Agreement, substantially in
the form thereof attached to the Guaranty, or in such other form as may be satisfactory to the
Administrative Agent, executed and delivered by a Guarantor to the Administrative Agent pursuant to
Section 6.12.

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

     “Immaterial Subsidiary” means (a) as of the Closing Date, any Subsidiary listed on
Schedule 6.12 hereto and (b) at any time thereafter, any Subsidiary designated as such by the
Borrower in a certificate delivered by the Borrower to the Administrative Agent (and which
designation has not been rescinded in a subsequent certificate of the Borrower delivered to the
Administrative Agent); provided that (i) such Subsidiary does not own any IP Rights
material to the business of the Borrower and its Subsidiaries taken as a whole, (ii) the aggregate
assets (other than assets consisting of intercompany receivables) of all Immaterial Subsidiaries
and their respective Subsidiaries as of the last day of the most recent fiscal quarter in respect
of which financial statements have been delivered pursuant to Section 6.01 do not, on a
consolidated basis, exceed $5,000,000 and (iii) the aggregate revenues (other than intercompany
revenues) produced by all Immaterial Subsidiaries and their respective Subsidiaries for the four
consecutive fiscal quarters most recently ended on or prior to such date in respect of which
financial statements have been delivered pursuant to Section 6.01 do not, on a consolidated basis,
exceed 5% of the consolidated revenues of the Borrower and its Subsidiaries for such time period.

     “Indebtedness” means, as to any Person at a particular time, without duplication, all
of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

     (a) all obligations of such Person for borrowed money and all obligations of such
Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

     (b) all direct or contingent obligations of such Person arising under letters of credit
(including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and
similar instruments;

     (c) net obligations of such Person under any Swap Contract;

     (d) all obligations of such Person to pay the deferred purchase price of property or
services (other than trade accounts payable and accrued expenses in the ordinary course of
business);

     (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property
owned or being purchased by such Person (including indebtedness arising under conditional
sales or other title retention agreements), whether or not such indebtedness shall have been
assumed by such Person or is limited in recourse;

     (f) Capital Lease Obligations and Synthetic Lease Obligations; and

     (g) all Guarantees of such Person in respect of any of the foregoing.

12

 

     For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any
partnership in which such Person is a general partner to the extent that such Person is liable
therefor as a result of such Persons’ ownership interest, except to the extent that such
Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under
any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such
date. The amount of any Capital Lease Obligation or Synthetic Lease Obligation as of any date
shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitees” has the meaning specified in Section 10.04(b).

     “Information” has the meaning specified in Section 10.07.

     “Insured Depository Institution” means any Bank or Savings Association the deposits of
which are insured by the Federal Deposit Insurance Corporation.

     “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 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; (b) as to any Base Rate Loan (other than a Swing Line Loan), the
last Business Day of each March, June, September and December and the Maturity Date; and (c) with
respect to any Swing Line Loan, the day that such Loan is required to be repaid.

     “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 the Borrower in its
Committed Loan Notice; provided that:

     (i) 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;

     (ii) 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

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

13

 

     “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 limited liability
company 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. The amount
of any Investment outstanding at any time shall be (i) the amount actually invested, without any
adjustments for increases or decreases in the value of such investment, minus (ii) the
amount of dividends or distributions in connection with such Investment and any return of capital
and any payment of principal received in respect of such Investment.

     “IP Rights” has the meaning specified in Section 5.17.

     “IRS” means the United States Internal Revenue Service.

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

     “JPMorgan” means J.P. Morgan Securities Inc., and its successors.

     “JPMorgan Chase Bank” means JPMorgan Chase Bank, N.A., and its successors.

     “Laws” means, collectively, all international, foreign, 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 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.

14

 

     “L/C Disbursement” means a payment made by the L/C Issuer pursuant to a Letter of
Credit.

     “L/C Issuer” means JPMorgan Chase Bank and any other Lender acceptable to the Borrower
and the Administrative Agent, in each case in its capacity as issuer of Letters of Credit
hereunder, and any successor issuer in such capacity as provided in Section 2.03(i). The L/C
Issuer may, in its discretion, arrange for one or more Letters of Credit to be issued by its
Affiliates, in which case the term “L/C Issuer” shall include any such Affiliate with respect to
Letters of Credit issued by such Affiliate .

     “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 L/C
Disbursements that have not yet been reimbursed (whether through a Loan or otherwise). 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. The L/C
Obligations of any Lender at any time shall be its Applicable Percentage of the total L/C
Obligations at such time.

     “Lender” has the meaning specified in the initial introductory paragraph hereto and,
as the context requires, includes the 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 the Borrower and the Administrative Agent.

     “Letter of Credit” means any letter of credit issued hereunder.

     “Letter of Credit Application” means any notice or application delivered pursuant to
Section 2.03(b) for the issuance, renewal, extension or amendment of a Letter of Credit.

     “Letter of Credit Fee” has the meaning specified in Section 2.09(c).

     “Letter of Credit Sublimit” means an amount equal to $30,000,000. The Letter of
Credit Sublimit is part of, and not in addition to, the Aggregate Commitments.

     “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 Capital Lease having substantially the same
economic effect as any of the foregoing).

15

 

     “Liquid Assets” means (i) cash, (ii) demand deposits or interest-bearing time and
eurodollar deposits, certificates of deposit or similar banking arrangements with banks which have
capital and surplus of not less than $250,000,000; (iii) direct obligations of the United States of
America in the form of United States Treasury obligations or any governmental agency or
instrumentality whose obligations constitute full faith and credit obligations of the United States
of America, which have maturities of 10 years or less; (iv) commercial paper rated P-2 or
higher by Moody’s Investors Service or A-2 or higher by Standard & Poor’s Rating Service; (v)
bonds and other fixed income instruments (including tax-exempt bonds) rated investment grade from
companies or public entities, and mutual funds that invest substantially all of their assets in
such bonds and other fixed income instruments, either owned directly by the Borrower or managed on
the Borrower’s behalf by any nationally recognized investment advisor who or which has assets under
management in excess of $250,000,000; (vi) repurchase agreements or similar arrangements with banks
which have capital and surplus of not less than $250,000,000; and (vii) mutual funds or money
market funds that invest substantially all of their assets in instruments described in the
subsections above; provided, however, that none of the items in clauses (i) through
(vii) shall be subject to any Liens other than those permitted by the Loan Documents.

     “Loan” means an extension of credit by a Lender to the Borrower under Article
II.

     “Loan Documents” means this Agreement, each Note, each Issuer Document, the Fee
Letter, and the Guaranty (including any Guaranty Joinder Agreement).

     “Loan Parties” means, collectively, the Borrower and each Guarantor.

     “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the business, assets, liabilities (actual or contingent), operations or
condition (financial or otherwise) of the Borrower and its Subsidiaries taken as a whole; (b) a
material impairment of the ability of the Borrower or any Loan Party that is a Material Subsidiary
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 the Borrower
or any Loan Party that is a Material Subsidiary of any Loan Document to which it is a party.

     “Material Subsidiary” means, at any time, each Subsidiary of the Borrower other than
an Immaterial Subsidiary.

     “Maturity Date” means (a) February 5, 2012, or (b) such earlier date upon which the
Aggregate Commitments may be terminated in accordance with the terms hereof; provided,
however, that, in each case, if such date is not a Business Day, the Maturity Date shall be
the next preceding Business Day.

     “Multiemployer Plan” means any employee benefit plan of the type described in Section
4001(a)(3) of ERISA, to which the 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.

     “Non-Recourse Debt” means Indebtedness (i) as to which neither the Borrower nor any of
its Subsidiaries (a) provides credit support of any kind (including any undertaking, agreement or
instrument that would constitute Indebtedness), (b) is directly or indirectly liable (as a
guarantor or otherwise), or (c) constitutes the lender; and (ii) no default with respect to which
would permit (upon notice, lapse of time or both) any holder of any other Indebtedness (other than
the Obligations) of the Borrower or any of its Subsidiaries to declare a default on such other
Indebtedness or cause the payment thereof to be accelerated or payable prior to its stated
maturity.

16

 

     “Note” means a promissory note made by the 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, Letter of Credit or Related Swap Contract, 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.

     “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
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 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 the Borrower of L/C Disbursements.

     “Participant” has the meaning specified in Section 10.06(d).

     “Patriot Act” has the meaning specified in Section 10.17.

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

     “PCAOB” means the Public Company Accounting Oversight Board.

     “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 the Borrower or any ERISA Affiliate or to which the
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.

17

 

     “Permitted Acquisition” means an Acquisition permitted by Section 7.13.

     “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 the 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 6.02.

     “Prime Rate” means the rate of interest per annum publicly announced from time to time
by JPMorgan Chase Bank as its prime rate in effect at its principal office in New York City; each
change in the Prime Rate shall be effective from and including the date such change is publicly
announced as being effective.

     “Pro Forma Basis” means, for purposes of determining compliance with financial
covenants and calculating the Consolidated Leverage Ratio pursuant to Section 7.13 in connection
with any Acquisition contemplated to be made in accordance therewith, that such Acquisition shall
be deemed to have occurred as of the first day of the relevant Determination Period. In connection
with the foregoing, (a) income statement items attributable to the Person or property acquired
shall, subject to clause (b) below, be recognized and consolidated with the income statement items
of the Borrower and its Subsidiaries in accordance with GAAP consistently applied (where
applicable); (b) any adjustments to expense items made in consolidating the Borrower and its
Subsidiaries with the Person or the property acquired shall be (i) made in accordance with
Regulation S-X of the Securities Act of 1933 or (ii) included in the good faith of the Borrower on
the basis of information and assumptions that the Borrower believes to be reasonable as of the date
of determining compliance and shall (A) solely relate to cost savings during any period applicable
in such calculations that (1) would have been realized during the 12 months prior to the
Acquisition of such Person or property or are realized or expected to be realized within 12 months
after the Acquisition of such Person or property, (2) are supported by reasonably detailed
supporting calculations provided together with the certifications required under Section
7.13 which calculations are prepared in good faith by senior management of the Borrower in
accordance with GAAP, consistently applied (where applicable), and (3) do not exceed in the
aggregate, together with all other adjustments to expense items for such period made pursuant to
this clause (b) in respect of any Acquisition, an amount equal to 10% of the Consolidated EBITDA
for the period of the four consecutive fiscal quarters ending as of the date of the financial
statements most recently delivered by the Borrower pursuant to Section 6.01(a) or
(b), as applicable, or (B) have been approved by the Administrative Agent; and (c) any
Indebtedness incurred or assumed by the Borrower or any Subsidiary acquired in connection with such
Acquisition and any Indebtedness of the Person or property acquired which is not retired in
connection with such Acquisition (A) shall be deemed to have been incurred as of the first day of
the relevant Determination Period and (B) if such Indebtedness has a floating
or formula rate, shall have an implied rate of interest for the relevant Determination Period
for purposes of this definition determined by utilizing the rate which is or would be in effect
with respect to such Indebtedness as at the relevant date of determination.

18

 

     “Register” has the meaning specified in Section 10.06(c).

     “Registered Public Accounting Firm” has the meaning specified in the Securities Laws
and shall be independent of the Borrower as prescribed in the Securities Laws.

     “Regulated Financial Institution” means an Insured Depository Institution or a Branch
of a Foreign Bank.

     “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.

     “Related Swap Contract” means all Swap Contracts that are entered into or maintained
with a Lender or an Affiliate of a Lender in connection with Indebtedness of the Borrower arising
under the Loan Documents which are not prohibited by the express terms of the Loan Documents.

     “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 Letter of Credit 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 8.02, 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, assistant treasurer or controller of a Loan Party and, solely for purposes of
notices given pursuant to Article II, any other officer or employee of the applicable Loan
Party so designated by any of the foregoing officers in a notice to the Administrative Agent.

     “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any capital stock or other Equity Interest of the
Borrower or any Subsidiary, or any payment (whether in cash, securities or other property),
including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of any such capital stock or other Equity
Interest, or on account of any return of capital to the Borrower’s stockholders, partners or
members (or the equivalent Person thereof).

19

 

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

     “Savings Association” means (A) any Federal savings association; (B) any State savings
association; and (C) any corporation (other than a Bank) that the Board of Directors and the
Director of the Office of Thrift Supervision jointly determine to be operating in substantially the
same manner as a savings association.

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

     “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 PCAOB.

     “SPC” has the meaning specified in Section 10.06(h).

     “Subordinated Debt” means unsecured Indebtedness of the Borrower or any Subsidiary
that is validly subordinated by its terms to the Obligations on terms (a) no less beneficial to the
Lenders in any material respect than the terms forth in Section 1 of Exhibit H or (b)
satisfactory to the Administrative Agent.

     “Subordinated Intercompany Debt” means unsecured Indebtedness of the Borrower or any
Subsidiary that is subordinated by its terms to the Obligations on terms and in a manner (a) no
less beneficial to the Lenders than those set forth on Exhibit H or (b) satisfactory to the
Administrative Agent.

     “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 the Borrower.

     “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.

20

 

     “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 the 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 JPMorgan Chase Bank in its capacity as provider of Swing
Line Loans, or any successor swing line lender hereunder.

     “Swing Line Loan” means a Loan made pursuant to Section 2.04.

     “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 the lesser of (a) $5,000,000 and (b)
the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the
Aggregate Commitments.

     “Synthetic Lease Obligation” means the monetary obligation of a Person under a
so-called synthetic, off-balance sheet or tax retention lease.

     “Target” means the subject matter of an Acquisition.

     “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.

     “Threshold Amount” means $15,000,000.

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

21

 

     “Transactions” means the execution, delivery and performance by each Loan Party of
each Loan Document to which such Person is a party, the borrowing of any Loans or the request for
the issuance of any Letter of Credit.

     “TSP” means (a) a provider of “telecommunications service”, as such term is defined in
the Telecommunications Act of 1996 or (b) any other Person who receives telephone numbers directly
from the “North American Numbering Plan Administrator” or “National Pooling Administrator”.

     “TSP Affiliate” means an affiliate of a TSP as such term is defined in the rules of
the Federal Communications Commission governing the “North American Numbering Plan Administrator”
(47 C.F.R. Section 52.12(a)(1)(i)).

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

     “UCP” means the Uniform Customs and Practice for Documentary Credits (1993 Revision),
International Chamber of Commerce Publication No. 500, as the same may be amended from time to
time.

     “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.

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

     “Wholly-Owned Subsidiary” means any Subsidiary in which 100% of the Equity Interests
are owned by the Borrower or a Subsidiary of the Borrower except for those Equity Interests that
applicable Law requires to be issued as directors’ qualifying shares to satisfy national
citizenship requirements.

     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

22

 

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.

     (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, 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 the Borrower or
the Required Lenders shall so request, the Administrative Agent, the Lenders and the 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) the Borrower shall provide to the
Administrative Agent and the 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.

     1.04 Rounding. Any financial ratios required to be maintained by the 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).

23

 

     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 the 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 Aggregate Commitments, 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, the 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 the Borrower’s irrevocable notice
to the Administrative Agent, which may be given by telephone. Each such notice must be received by
the Administrative 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; provided that any such notice of a Borrowing of
Base Rate Committed Loans to finance the reimbursement of an L/C Disbursement as contemplated by
Section 2.03(e) may be given not later than 10:00 a.m. on the date of the proposed Borrowing. Each
telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed
promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately
completed and signed by a Responsible Officer of the 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(e), each
Borrowing of or conversion to Base Rate Committed Loans shall be in a principal amount of $500,000
or a whole multiple of $100,000 in excess thereof. Each Swing Line Loan shall be in a principal
amount of $100,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice
(whether telephonic or written) shall specify (i) whether the Borrower is requesting a Committed
Borrowing, a conversion of Committed Loans from one Type to the other, or a continuation of

24

 

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 the Borrower fails to specify a Type of Committed Loan in a
Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or
continuation, then the applicable Committed Loans shall 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 the
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, the Administrative 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 the Borrower, the
Administrative 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 the Administrative Agent in
immediately available funds at the Administrative 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), the Administrative Agent shall make all funds so received
available to the Borrower in like funds as received by the Administrative Agent either by (i)
crediting the account of the Borrower on the books of JPMorgan Chase Bank 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) the Administrative Agent by the Borrower; provided,
however, that if, on the date the Committed Loan Notice with respect to such Borrowing is
given by the 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 the 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) The Administrative Agent shall promptly notify the Borrower and the Lenders of the
interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of
such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent
shall notify the Borrower and the Lenders of any change in the Prime Rate used in determining the
Base Rate promptly following the public announcement of such change.

     (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 Committed Loans.

25

 

     2.03 Letters of Credit.

     (a) General. Subject to the terms and conditions set forth herein, the Borrower or
any Subsidiary may request the issuance of Letters of Credit for its own account (or, in the case
of a Letter of Credit requested by a Subsidiary, for the account of the Borrower and such
Subsidiary), in a form reasonably acceptable to the Administrative Agent and the L/C Issuer, at any
time and from time to time during the Availability Period. In the event of any inconsistency
between the terms and conditions of this Agreement and the terms and conditions of any form of
letter of credit application or other agreement submitted by the Borrower or such Subsidiary to, or
entered into by the Borrower or such Subsidiary with, the L/C Issuer relating to any Letter of
Credit, the terms and conditions of this Agreement shall control.

     (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request
the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter
of Credit), the Borrower or the relevant Subsidiary shall hand deliver or telecopy (or transmit by
electronic communication, if arrangements for doing so have been approved by the L/C Issuer) to the
L/C Issuer and the Administrative Agent (reasonably in advance of the requested date of issuance,
amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or
identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of
issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such
Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount
of such Letter of Credit, the name and address of the beneficiary thereof and such other
information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If
requested by the L/C Issuer, the Borrower and/or such Subsidiary also shall submit a letter of
credit application on the L/C Issuer’s standard form in connection with any request for a Letter of
Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon
issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to
represent and warrant that), after giving effect to such issuance, amendment, renewal or extension
(i) the L/C Obligations shall not exceed the Letter of Credit Sublimit and (ii) the sum of the
Total Outstandings shall not exceed the Aggregate Commitments. Furthermore, the L/C Issuer shall
not at any time be obligated to issue any Letter of Credit if such issuance would conflict with, or
cause the L/C Issuer or any Lender to exceed any limits imposed by, any applicable Laws.

     (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the earlier of (i) the date one year after the date of the issuance of such Letter of
Credit (or, in the case of any renewal or extension thereof, one year after such renewal or
extension) and (ii) the date that is five Business Days prior to the Maturity Date,
provided that any Letter of Credit with a one-year term may provide for the automatic
renewal thereof for additional one-year periods (which shall in no event extend beyond the date
referred to in clause (ii) above); and provided,
further, that a Letter of Credit to be issued on or about the
Closing Date as a back-stop for that certain letter of credit
described on Schedule 2.03(c) may provide for a substantially
contemporaneous term with such letter of credit (which term shall in
no event extend beyond the date referred to in clause (ii) above).

26

 

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

     (e) Reimbursement. If the L/C Issuer shall make any L/C Disbursement in respect of a
Letter of Credit, the Borrower shall reimburse such L/C Disbursement by paying to the
Administrative Agent an amount equal to such L/C Disbursement not later than 12:00 noon, New York
City time, on the date that such L/C Disbursement is made, if the Borrower shall have received
notice of such L/C Disbursement prior to 10:00 a.m., New York City time, on such date, or, if such
notice has not been received by the Borrower prior to such time on such date, then not later than
12:00 noon, New York City time, on the Business Day immediately following the day that the Borrower
receives such notice; provided that the Borrower may, subject to the conditions to
borrowing set forth herein, request in accordance with Sections 2.01, 2.02 and 2.04
that such payment be financed with Base Rate Loans or Swing Line Loan in an equivalent amount and,
to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and
replaced by the resulting Base Rate Loans or Swing Line Loan. If the Borrower fails to make such
payment when due, the Administrative Agent shall notify each Lender of the applicable L/C
Disbursement, the payment then due from the Borrower in respect thereof and such Lender’s
Applicable Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to
the Administrative Agent its Applicable Percentage of the payment then due from the Borrower, in
the same manner as provided in Section 2.02(b) with respect to Loans made by such Lender
(and Section 2.02(b) shall apply, mutatis mutandis, to the payment
obligations of the Lenders), and the Administrative Agent shall promptly pay to the L/C Issuer the
amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent
of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall
distribute such payment to the L/C Issuer or, to the extent that Lenders have made payments
pursuant to this paragraph to reimburse the L/C Issuer, then to such Lenders and the L/C Issuer as
their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse
the L/C Issuer for any L/C Disbursement (other than the funding of Base Rate Loans or a Swing Line
Loan as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its
obligation to reimburse such L/C Disbursement.

     (f) Obligations Absolute. The Borrower’s obligation to reimburse L/C Disbursements as
provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and
shall be performed strictly in accordance with the terms of this Agreement under any and all
circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other
document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any
respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the

27

 

L/C Issuer under a Letter of Credit against presentation of a draft or other document that
does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of
this Section, constitute a legal or equitable discharge of, or provide a right of setoff against,
the Borrower’s obligations hereunder; provided that the foregoing shall not be construed to
excuse the L/C Issuer from liability to the Borrower to the extent of any direct damages (as
opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to
the extent permitted by applicable law) suffered by the Borrower that are caused by the L/C
Issuer’s failure to exercise care in accordance with the applicable standard of care when making
payments of L/C Disbursements. To the extent allowable under applicable law, neither the
Administrative Agent, the Lenders nor the L/C Issuer, nor any of their Related Parties, shall have
any liability or responsibility by reason of or in connection with the issuance or transfer of any
Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of
the circumstances referred to in the preceding sentence), or any error, omission, interruption,
loss or delay in transmission or delivery of any draft, notice or other communication under or
relating to any Letter of Credit (including any document required to make a drawing thereunder),
any error in interpretation of technical terms or any consequence arising from causes beyond the
control of the L/C Issuer; provided that the foregoing shall not be construed to excuse the
L/C Issuer from liability to the Borrower to the extent of any direct damages (as opposed to
consequential damages, claims in respect of which are hereby waived by the Borrower to the extent
permitted by applicable law) suffered by the Borrower that are caused by the L/C Issuer’s failure
to exercise care in accordance with the applicable standard of care when determining whether drafts
and other documents presented under a Letter of Credit comply with the terms thereof. The parties
hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part
of the L/C Issuer (as finally determined by a court of competent jurisdiction), the L/C Issuer
shall be deemed to have exercised care in each such determination. In furtherance of the foregoing
and without limiting the generality thereof, the parties agree that, with respect to documents
presented which appear on their face to be in substantial compliance with the terms of a Letter of
Credit, the L/C Issuer may, in its sole discretion, either accept and make payment upon such
documents without responsibility for further investigation, regardless of any notice or information
to the contrary, or refuse to accept and make payment upon such documents if such documents are not
in strict compliance with the terms of such Letter of Credit.

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

28

 

     (h) Interim Interest. If the L/C Issuer shall make any L/C Disbursement, then, unless
the Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is
made, the unpaid amount thereof shall bear interest, for each day from and including the date such
L/C Disbursement is made to but excluding the date that the Borrower reimburses such L/C
Disbursement, at the rate per annum then applicable to Base Rate Loans; provided that, if
the Borrower fails to reimburse such L/C Disbursement when due pursuant to paragraph (e) of this
Section, then from and including the date such reimbursement is due to but excluding the date
that the Borrower reimburses such L/C Disbursement, Section 2.08(b)(i) shall apply.
Interest accrued pursuant to this paragraph shall be for the account of the L/C Issuer, except that
interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this
Section to reimburse the L/C Issuer shall be for the account of such Lender to the extent of such
payment.

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

     (j) Cash Collateralization. If any Event of Default shall occur and be continuing, on
the Business Day that the Borrower receives notice from the Administrative Agent or the Required
Lenders (or, if the maturity of the Loans has been accelerated, Lenders with L/C Obligations
representing greater than 50% of the total L/C Obligations) demanding the deposit of cash
collateral pursuant to this paragraph, the Borrower shall deposit in an account with the
Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders,
an amount in cash equal to 103% the L/C Obligations as of such date; provided, that the
obligation to deposit such cash collateral shall become effective immediately, and such deposit
shall become immediately due and payable, without demand or other notice of any kind, upon the
occurrence of any Event of Default with respect to the Borrower described in subsection
8.01(f) or (g). Such deposit shall be held by the Administrative Agent as collateral
for the payment and performance of the reimbursement obligations of the Borrower in respect of the
L/C Obligations. The Administrative Agent shall have exclusive dominion and control, including the
exclusive right of withdrawal, over such account. Such deposits shall bear interest at a rate to
be agreed, payable on the date such deposits are applied against the Borrower’s obligations or
released to the Borrower as set forth below. Moneys in such account shall be applied by the
Administrative Agent to reimburse the L/C Issuer for L/C Disbursements for which it has not been
reimbursed and, to the extent not so applied, shall be held for the satisfaction of the
reimbursement obligations of the Borrower for the L/C Obligations at such time or, if the maturity
of the Loans has been accelerated (but subject to the consent of Lenders with L/C Obligations
representing greater than 50% of the total L/C Obligations), be applied to satisfy other
obligations of the Borrower under this Agreement. If the Borrower is required to provide an amount
of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to
the extent not applied as aforesaid) shall be returned to the Borrower within three Business Days
after all Events of Default have been cured or waived.

29

 

     (k) Applicability of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer
and the Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each
standby Letter of Credit and the rules of the UCP shall apply to each commercial Letter of Credit.

     (l) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of
Credit issued or outstanding hereunder is in support of any obligations of, or is for the account
of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and
all drawings under such Letter of Credit.

     2.04 Swing Line Loans.

     (a) Subject to the terms and conditions set forth herein, the Swing Line Lender agrees to make
Swing Line Loans to the Borrower from time to time during the Availability Period, in an aggregate
principal amount at any time outstanding that will not result in (i) the aggregate principal amount
of outstanding Swing Line Loans exceeding the Swing Line Sublimit or (ii) the sum of the Total
Outstandings exceeding the Aggregate Commitments; provided that the Swing Line Lender shall
not be required to make a Swing Line Loan to refinance an outstanding Swing Line Loan. Within the
foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow,
prepay and reborrow Swing Line Loans.

     (b) To request a Swing Line Loan, the Borrower shall notify the Administrative Agent of such
request by telephone, not later than 12:00 noon, New York City time, on the day of a proposed Swing
Line Loan. Each such telephonic notice must be confirmed promptly by delivery to the Swing Line
Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed
and signed by a Responsible Officer of the Borrower. Each such notice shall be irrevocable and
shall specify the requested date (which shall be a Business Day) and amount of the requested Swing
Line Loan. The Administrative Agent will promptly advise the Swing Line Lender of any such notice
received from the Borrower. The Swing Line Lender shall make each Swing Line Loan available to the
Borrower by means of a credit to the general deposit account of the Borrower with the Swing Line
Lender (or, in the case of a Swing Line Loan made to finance the reimbursement of an L/C
Disbursement as provided in Section 2.03(e), by remittance to the L/C Issuer) by 3:00 p.m.,
New York City time, on the requested date of such Swing Line Loan.

     (c) The Swing Line Lender may by written notice given to the Administrative Agent not later
than 10:00 a.m., New York City time, on any Business Day require the Lenders to acquire
participations on such Business Day in all or a portion of the Swing Line Loans outstanding. Such
notice shall specify the aggregate amount of Swing Line Loans in which Lenders will participate.
Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each
Lender, specifying in such notice such Lender’s Applicable Percentage of such Swing Line Loan or
Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as
provided above, to pay to the Administrative Agent, for the account of the Swing Line Lender, such
Lender’s Applicable Percentage of such Swing Line Loan or Loans. Each Lender acknowledges and
agrees that its obligation to acquire participations in Swing Line Loans pursuant to this paragraph
is absolute and unconditional and shall not be affected by any circumstance whatsoever, including
the occurrence and continuance

30

 

of a Default or reduction or termination of the Commitments, and that each such payment shall
be made without any offset, abatement, withholding or reduction whatsoever. Each Lender shall
comply with its obligation under this paragraph by wire transfer of immediately available funds, in
the same manner as provided in Section 2.02(b) with respect to Loans made by such Lender
(and Section 2.02(b) shall apply, mutatis mutandis, to the payment
obligations of the Lenders), and the Administrative Agent shall promptly pay to the Swing Line
Lender the amounts so received by it from the Lenders. The Administrative Agent shall notify the
Borrower of any participations in any Swing Line Loan acquired pursuant to this paragraph, and
thereafter payments in respect of such Swing Line Loan shall be made to the Administrative Agent
and not to the Swing Line Lender. Any amounts received by the Swing Line Lender from the Borrower
(or other party on behalf of the Borrower) in respect of a Swing Line Loan after receipt by the
Swing Line Lender of the proceeds of a sale of participations therein shall be promptly remitted to
the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly
remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to
this paragraph and to the Swing Line Lender, as their interests may appear; provided that
any such payment so remitted shall be repaid to the Swing Line Lender or to the Administrative
Agent, as applicable, if and to the extent such payment is required to be refunded to the Borrower
for any reason. The purchase of participations in a Swing Line Loan pursuant to this paragraph
shall not relieve the Borrower of any default in the payment thereof.

     2.05 Prepayments.

     (a) The Borrower may, upon written notice to the Administrative Agent (and, in the case of
prepayment of a Swing Line Loan, the Swing Line Lender), 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 the Administrative 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 $5,000,000 or a whole multiple of $1,000,000 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, 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. The Administrative 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 the Borrower, the 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 the Lenders in accordance with their
respective Applicable Percentages. The provisions hereof shall not apply to any prepayments made
under Section 2.14(e) or Section 10.19.

31

 

     (b) The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative
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
the Swing Line Lender and the Administrative 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 the
Borrower, the 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 Aggregate Commitments then
in effect, the Borrower shall immediately prepay Loans and/or, in accordance with the requirements
of Section 2.03(j), mutatis, mutandis, cash collateralize the L/C Obligations in an
aggregate amount equal to such excess; provided, however, that the Borrower shall
not be required to so 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
Aggregate Commitments then in effect.

     2.06 Termination or Reduction of Commitments. The Borrower may, upon notice to the
Administrative 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 the
Administrative Agent not later 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) the 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 Aggregate Commitments, and (iv) if, after giving
effect to any reduction of the Aggregate Commitments, the Letter of Credit 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. The Administrative 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) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal
amount of Committed Loans outstanding on such date.

     (b) The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date
which is ten Business Days after such Loan is made and (ii) the Maturity Date; provided
that on each date that a Borrowing is made, the Borrower shall repay all Swing Line Loans then
outstanding.

32

 

     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.

     (b) (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 the 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, then upon the request of the Required
Lenders, 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.

     (iii) Upon the request of the Required Lenders, while any Event of Default exists, the
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.

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

     (c) 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.

     (a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the
account of each Lender in accordance with its Applicable Percentage, a commitment fee equal to the
Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the
sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C
Obligations. The commitment fee shall accrue at all times during the Availability Period,
including at any time during which one or more of the conditions in Article IV is not met,
and 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 last day of the Availability Period. The commitment fee shall be calculated quarterly in
arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily
amount shall be computed and multiplied by the Applicable Rate separately for each period during
such quarter that such Applicable Rate was in effect.

33

 

     (b) Other Fees. The Borrower shall pay to the Arranger and the Administrative
Agent for their own respective accounts fees in the amounts and at the times specified in the Fee
Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason
whatsoever.

     (c) Letter of Credit Fee; Fronting Fee. The Borrower agrees to pay (i) to the
Administrative Agent for the account of each Lender a participation fee (a “Letter of Credit
Fee”) with respect to its participations in Letters of Credit, which shall accrue at the
Applicable Rate on the average daily amount of such Lender’s L/C Obligations (excluding any portion
thereof attributable to unreimbursed L/C Disbursements) during the period from and including the
Closing Date to but excluding the later of the date on which such Lender’s Commitment terminates
and the date on which such Lender ceases to have any L/C Obligations, and (ii) to the L/C Issuer a
fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the
Borrower and the L/C Issuer on the average daily amount of the L/C Obligations (excluding any
portion thereof attributable to unreimbursed L/C Disbursements) during the period from and
including the Closing Date to but excluding the later of the date of termination of the Commitments
and the date on which there ceases to be any L/C Obligations, as well as the L/C Issuer’s
reasonable and customary standard fees with respect to the issuance, amendment, renewal or
extension of any Letter of Credit or processing of drawings thereunder. Participation fees and
fronting fees accrued through and including the last day of March, June, September and December of
each year shall be payable on the third Business Day following such last day, commencing on the
first such date to occur after the Closing Date; provided that all such fees shall be
payable on the date on which the Commitments terminate and any such fees accruing after the date on
which the Commitments terminate shall be payable on demand. Any other fees payable to the L/C
Issuer pursuant to this paragraph shall be payable within 10 days after demand. All participation
fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable
for the actual number of days elapsed (including the first day but excluding the last day).

     2.10 Computation of Interest and Fees. All computations of interest for Base Rate Loans when
the Base Rate is determined based on the 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 interest for one day. Each determination by the Administrative Agent of an
interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest
error.

     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 the Administrative Agent in the ordinary course of
business. The accounts or records maintained by the Administrative Agent and each Lender shall be
conclusive absent manifest error of the amount of the Credit Extensions made by

34

 

the Lenders to the 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 the
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
the Administrative Agent in respect of such matters, the accounts and records of the Administrative
Agent shall control in the absence of manifest error. Upon the request of any Lender made through
the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the
Administrative 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 the
Administrative 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 the
Administrative Agent and the accounts and records of any Lender in respect of such matters, the
accounts and records of the Administrative Agent shall control in the absence of manifest error.

     2.12 Payments Generally; Administrative Agent’s Clawback.

     (a) General. All payments to be made by the Borrower shall be made without condition
or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly
provided herein, all payments by the Borrower hereunder shall be made to the Administrative 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. Other than payments made pursuant to Section 2.14(e) and Section 10.19, the
Administrative Agent will promptly distribute to each 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 the Administrative 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 the 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 Administrative Agent. Unless the
Administrative 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 the Administrative Agent such Lender’s share of such
Committed Borrowing, the Administrative Agent may assume that such Lender has made such
share available on such date in accordance with Section 2.02 or Section
2.03(e), as the case maybe (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 or Section 2.03(e), as the case maybe) and may, in reliance

35

 

upon such assumption, make available to the Borrower a corresponding amount. In such event,
if a Lender has not in fact made its share of the applicable Committed Borrowing available
to the Administrative Agent, then the applicable Lender and the Borrower severally agree to
pay to the Administrative 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 the Borrower to but excluding the date of payment to the Administrative
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 the Administrative Agent in accordance with banking
industry rules on interbank compensation, plus any administrative processing or similar fees
customarily charged by the Administrative Agent in connection with the foregoing, and (B)
in the case of a payment to be made by the Borrower, the interest rate applicable to Base
Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative
Agent for the same or an overlapping period, the Administrative Agent shall promptly remit
to the Borrower the amount of such interest paid by the Borrower for such period. If such
Lender pays its share of the applicable Committed Borrowing to the Administrative Agent,
then the amount so paid shall constitute such Lender’s Committed Loan included in such
Committed Borrowing. Any payment by the Borrower shall be without prejudice to any claim
the Borrower may have against a Lender that shall have failed to make such payment to the
Administrative Agent.

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

     A notice of the Administrative Agent to any Lender or the 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 the
Administrative 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 the Borrower by the
Administrative 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, the
Administrative Agent shall return such funds (in like funds as received from such Lender) to such
Lender, without interest.

36

 

     (d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make
Committed Loans, to fund participations in Letters of Credit and Swing Line Loans and to make
payments pursuant to Section 10.04(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
10.04(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, to purchase its participation or to make its payment under
Section 10.04(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.

     (f) If any Lender shall fail to make any payment required to be made by it pursuant to Section
2.03(d) or (e), 2.04(c), 2.12(b) or 10.04 (c), then the Administrative Agent may, in its discretion
(notwithstanding any contrary provision hereof), apply any amounts thereafter received by the
Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such
Sections until all such unsatisfied obligations are fully paid.

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

37

 

     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 (i) the Aggregate Commitments have not been
voluntarily reduced pursuant to Section 2.06, and (ii) no Default exists, upon notice to
the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to
time, request an increase in the Aggregate Commitments from the Lenders by an amount (in the
aggregate for all such requests) not exceeding $100,000,000; provided that any such request
for an increase shall be in a minimum amount of $25,000,000. At the time of sending such notice,
the Borrower (in consultation with the Administrative 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 Administrative 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 the 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 the
Administrative Agent, the L/C Issuer and the Swing Line Lender (which approvals shall not be
unreasonably withheld), the Borrower may also invite additional Eligible Assignees to become
Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative
Agent and its counsel.

     (d) Effective Date and Allocations. If the Aggregate Commitments are increased in
accordance with this Section, the Administrative Agent and the Borrower shall determine the
effective date (the “Increase Effective Date”) and the final allocation of such increase.
The Administrative Agent shall promptly notify the 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, the Borrower shall deliver to the Administrative Agent 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 the Borrower,
certifying that, before and after giving effect to such increase, (A) the representations and
warranties contained in Article V and the other Loan Documents are true and correct in all
material respects 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

38

 

correct in all material respects 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 5.05 shall be deemed to refer to the most recent statements furnished pursuant to
clauses (a) and (b), respectively, of Section 6.01, and (B) no Default exists. The
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; provided, that the provisions of
Section 2.05(a) shall not apply to any such prepayments. 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.

     (f) Conflicting Provisions. This Section shall supersede any provisions in
Section 2.13 or 10.01 to the contrary.

ARTICLE III.

TAXES, YIELD PROTECTION AND ILLEGALITY

     3.01 Taxes.

     (a) Payments Free of Taxes. Any and all payments by or on account of any obligation
of the 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
the Borrower shall be required by 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) the Administrative 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) the Borrower
shall make such deductions and (iii) the Borrower shall timely pay the full amount deducted to the
relevant Governmental Authority in accordance with applicable law.

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

     (c) Indemnification by the Borrower. The Borrower shall indemnify the Administrative
Agent, each Lender and the L/C Issuer, within 30 days after demand therefor, for the full amount of
any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or
asserted on or attributable to amounts payable under this Section) paid by the Administrative
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 the Borrower
by a Lender or the L/C Issuer (with a copy to the Administrative Agent), or by the Administrative
Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent
manifest error.

39

 

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

     (e) 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 the 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 the Borrower (with a copy to the
Administrative Agent), at the time or times prescribed by applicable law or reasonably requested by
the Borrower or the Administrative Agent, 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 the Borrower or the
Administrative Agent, shall deliver such other documentation prescribed by applicable law or
reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative 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 the Borrower is resident
for tax purposes in the United States, any Foreign Lender shall deliver to the Borrower and the
Administrative 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 the Borrower or the Administrative Agent, but only if such
Foreign Lender is legally entitled to do so), whichever of the following is applicable:

     (i) duly completed copies of Internal Revenue Service Form W-8BEN claiming eligibility
for benefits of an income tax treaty to which the United States is a party,

     (ii) duly completed 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 the Borrower within the meaning of section
881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section
881(c)(3)(C) of the Code and (y) duly completed 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 together with such
supplementary documentation as may be prescribed by applicable law to permit the Borrower to
determine the withholding or deduction required to be made.

     (f) Treatment of Certain Refunds. If the Administrative Agent, any Lender or the L/C
Issuer determines, in its sole discretion, that it has received a refund of any Taxes or Other

40

 

Taxes as to which it has been indemnified by the Borrower or with respect to which the
Borrower has paid additional amounts pursuant to this Section, it shall pay to the Borrower an
amount equal to such refund (but only to the extent of indemnity payments made, or additional
amounts paid, by the Borrower under this Section with respect to the Taxes or Other Taxes giving
rise to such refund), net of all out-of-pocket expenses of the Administrative 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 the Borrower,
upon the request of the Administrative Agent, such Lender or the L/C Issuer, agrees to repay the
amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the
relevant Governmental Authority) to the Administrative Agent, such Lender or the L/C Issuer in the
event the Administrative 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 the Administrative
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 the 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 the Borrower through the Administrative
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 the
Administrative Agent and the Borrower that the circumstances giving rise to such determination no
longer exist. Upon receipt of such notice, the Borrower shall, upon demand from such Lender (with
a copy to the Administrative 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, the Borrower shall also pay accrued interest on the amount so prepaid or
converted.

     3.03 Inability to Determine Rates. If the Required Lenders determine that for any reason 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 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, the Administrative Agent will
promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make
or maintain Eurodollar Rate Loans shall be suspended until the Administrative Agent (upon the
instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the
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.

41

 

     3.04 Increased Costs; Reserves on Eurodollar Rate Loans.

     (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
contemplated by Section 3.04(e)) 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, the 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 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 the 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.

42

 

     (c) Certificates for Reimbursement. A certificate of a Lender or the L/C Issuer
setting forth in reasonable detail 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 the Borrower shall be conclusive absent manifest error. Subject to
subsection (d) below, the 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 the 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
the 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).

     (e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long
as such Lender shall be required to maintain reserves with respect to liabilities or assets
consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan
equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by
such Lender in good faith, which determination shall be conclusive), which shall be due and payable
on each date on which interest is payable on such Loan, provided the Borrower shall have
received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such
additional interest from such Lender. If a Lender fails to give notice 10 days prior to the
relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days
from receipt of such notice.

     3.05 Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative
Agent) from time to time, the 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 (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);

     (b) any failure by the 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 the Borrower; or

     (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest
Period therefor as a result of a request by the Borrower pursuant to Section 10.13;

but excluding any loss of anticipated profits and including 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. The Borrower shall also pay any
customary administrative fees charged by such Lender in connection with the foregoing.

43

 

     For purposes of calculating amounts payable by the Borrower to the 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 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 of Lenders.

     (a) Designation of a Different Lending Office. If any Lender requests compensation
under Section 3.04, or the 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. The 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 the 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, the Borrower
may replace such Lender in accordance with Section 10.13.

     3.07 Survival. All of the 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) The Administrative 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, in the case of
certificates of governmental officials, a recent date before the Closing Date) and each in form and
substance satisfactory to the Administrative Agent and each of the Lenders:

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

44

 

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

     (iii) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of each Loan Party as the Administrative 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;

     (iv) such documents and certifications as the Administrative Agent may reasonably
require to evidence that each Loan Party is duly organized or formed, and that each of the
Borrower and each Guarantor 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 would not reasonably be expected to have a Material Adverse Effect;

     (v) a favorable opinion of Gibson, Dunn & Crutcher LLP, counsel to the Loan Parties,
addressed to the Administrative Agent and each Lender, as to the matters set forth in
Exhibit G;

     (vi) 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;

     (vii) a certificate signed by a Responsible Officer of the 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 that has had or would be reasonably expected to have, either individually or in
the aggregate, a Material Adverse Effect;

     (viii) a duly completed Compliance Certificate as of the last day of the fiscal quarter
of the Borrower ended on September 30, 2006 giving pro forma effect to any repayments or
incurrences of Indebtedness after such date (including any incurrence of Indebtedness under
this Agreement on the Closing Date), signed by a Responsible Officer of the Borrower;

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

     (x) evidence that the Existing Credit Agreement has been or concurrently with the
Closing Date is being terminated and all Liens securing obligations under the Existing
Credit Agreement have been or concurrently with the Closing Date are being released; and

45

 

     (xi) for the Borrower and its Subsidiaries, unaudited quarterly statements for each
fiscal quarter of the fiscal year ending December 31, 2006 ended at least 45 days prior to
the Closing Date.

     (b) Any fees required to be paid on or before the Closing Date to the Administrative Agent,
the Arranger and the Lenders shall have been paid.

     (c) Unless waived by the Administrative Agent, the Borrower shall have paid all reasonable
fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if
requested by the Administrative 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 the Borrower and the Administrative Agent).

     (d) The Borrower shall be satisfied that each Lender is either a Regulated Financial
Institution or, if not a Regulated Financial Institution, each such Lender, in the judgment of the
Borrower, is not a TSP or a TSP Affiliate.

     (e) The
Closing Date shall have occurred on or before February 6, 2007.

     Without limiting the generality of the provisions of Article IX, 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 the Administrative 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 to the other Type, or a continuation of Eurodollar Rate Loans), and the obligation of the L/C
Issuer to honor any request for an L/C Credit Extension is subject to the following conditions
precedent:

     (a) The representations and warranties of the Borrower and each other Loan Party contained in
Article V 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 5.05 shall be deemed to refer to the most recent statements furnished pursuant
to clauses (a) and (b), respectively, of Section 6.01.

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

46

 

     (c) The Administrative Agent and, if applicable, the L/C Issuer or the 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 to the other Type or a continuation of Eurodollar Rate Loans)
submitted by the 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.

REPRESENTATIONS AND WARRANTIES

     The Borrower represents and warrants to the Administrative Agent and the Lenders that:

     5.01 Existence, Qualification and Power. Each Loan Party (a) is duly organized or formed,
validly existing and, as applicable, 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, and (c) is duly qualified and is licensed and, as applicable, 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; except in each
case referred to in clause (b)(i) or (c), to the extent that failure to do so would not reasonably
be expected to have a Material Adverse Effect.

     5.02 Authorization; No Contravention. The Transactions 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, except in each case referred to in clauses (a), (b) or (c) to the
extent that such conflict, breach or violation would not reasonably be expected to have a Material
Adverse Effect.

     5.03 Governmental Authorization; Other Consents. No approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any Governmental Authority is
necessary or required in connection with the Transactions except for those approvals, consents,
exemptions, authorizations or other actions which have already been obtained, taken, given or made
and are in full force and effect.

     5.04 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 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, except as enforceability may be
limited by applicable Debtor Relief Laws or by equitable principles relating to enforceability.

47

 

     5.05 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 in all material respects the financial condition of the Borrower 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 the Borrower and its Subsidiaries as of the date thereof, including
liabilities for taxes, material commitments and Indebtedness.

     (b) The unaudited consolidated balance sheets of the Borrower and its Subsidiaries dated
September 30, 2006, 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 in all material respects the financial condition of the
Borrower 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) 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 would reasonably be expected
to have a Material Adverse Effect.

     5.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to
the knowledge of the Borrower after reasonable investigation, threatened at law, in equity, in
arbitration or before any Governmental Authority, by or against the Borrower or any of its
Subsidiaries or against any of their properties or revenues that purport to affect or pertain
to this Agreement or any other Loan Document, or any of the transactions, including the
Transactions, contemplated hereby, either individually or in the aggregate, would reasonably be expected to have a Material
Adverse Effect.

     5.07 No Default. Neither any Loan Party nor any Subsidiary thereof is in default under or
with respect to any Contractual Obligation that would, 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, including the Transactions,
contemplated by this Agreement or any other Loan Document.

     5.08 Ownership of Property; Liens. Each of the 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 would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The
property of the Borrower and its Subsidiaries is subject to no Liens, other than Liens
permitted by Section 7.01.

48

 

     5.09 Environmental Compliance. There are no pending, or to the Borrower’s knowledge,
threatened claims alleging potential liability or responsibility for violation of any Environmental
Law in connection with the businesses, operations and properties of the Borrower and its
Subsidiaries, or except for such claims
that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.

     5.10 Insurance. The properties of the Borrower and its Subsidiaries are insured with
financially sound and reputable insurance companies not Affiliates of the Borrower, 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 the Borrower or the applicable
Subsidiary operates.

     5.11 Taxes. The Borrower and its Subsidiaries have filed all Federal, state and other
material tax returns and reports required to be filed, and have paid all Federal, state 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
the Borrower or any Subsidiary that would, if made, have a Material Adverse Effect.

     5.12 ERISA Compliance.

     (a) Each Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Code and other 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 knowledge of the Borrower, nothing has occurred which would prevent, or cause the loss of, such
qualification. The 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 knowledge of the Borrower, threatened claims, actions or
lawsuits, or action by any Governmental Authority, with respect to any Plan that would 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 would
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 the 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

49

 

ERISA); (iv) neither the Borrower nor any ERISA Affiliate has incurred, or reasonably expects
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 Section 4201 or 4243 of ERISA with respect to
a Multiemployer Plan; and (v) neither the Borrower nor any ERISA Affiliate has engaged in a
transaction that could be subject to Section 4069 or 4212(c) of ERISA.

     5.13 Subsidiaries. As of the Closing Date, the Borrower has no Subsidiaries other than those
specifically disclosed in Part (a) of Schedule 5.13 and has no equity investments in any
other corporation or entity other than those specifically disclosed in Part(b) of Schedule
5.13.

     5.14 Margin Regulations; Investment Company Act.

     (a) The Borrower is not engaged and will not 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. Following the application of the proceeds of each Borrowing or drawing under each
Letter of Credit, not more than 25% of the value of the assets (either of the Borrower only or of
the Borrower and its Subsidiaries on a consolidated basis) subject to the provisions of Section
7.01 or Section 7.05 or subject to any restriction contained in any agreement or
instrument between the Borrower and any Lender or any Affiliate of any Lender relating to
Indebtedness and within the scope of Section 8.01(e) will be margin stock.

     (b) None of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is
required to be registered as an “investment company” under the Investment Company Act of 1940.

     5.15 Disclosure. None of the representations or warranties made by any Loan Party in the Loan
Documents as of the date such representations and warranties are made or deemed made and none of
the written statements contained in any exhibit, report, statement or certificate furnished by or
on behalf of any Loan Party in connection with the Loan Documents, considering each of the
foregoing in the context in which it was made and together with all other representations,
warranties and written statements theretofore furnished by such Loan Party to the Administrative
Agent and the Lenders in connection with the Loan Documents and in the context of all publicly
available information concerning the Loan Parties, contains any untrue statement of a material fact
or omits any material fact required to be stated therein or necessary to make such representation,
warranty or written statement, in light of the circumstances under which it is made, not misleading
as of the time when made or delivered; provided that the Borrower’s representation and
warranty as to any forecast, projection or other statement regarding future performance, future
financial results or other future development is limited to the fact that such forecast, projection
or statement was prepared in good faith on the basis of information and assumptions that the
Borrower believed to be reasonable as of the date such material was prepared (it being understood
that the projections are subject to significant uncertainties and contingencies, many of which are
beyond the Borrower’s control, and that no assurance can be given that the projections will be
realized).

     5.16 Compliance with Laws. Each Loan Party and each Subsidiary thereof 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, would not reasonably be expected to have a Material
Adverse Effect.

50

 

     5.17 Intellectual Property; Licenses, Etc. The Borrower and its Subsidiaries own, or possess
the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent
rights, franchises, licenses and other intellectual property rights (collectively, “IP
Rights”) that are reasonably necessary for the operation of their respective businesses,
without conflict with the rights of any other Person. To the knowledge of the Borrower, no slogan
or other advertising device, product, process, method, substance, part or other material now
employed, or now contemplated to be employed, by the Borrower or any Subsidiary which is material
to the conduct of the business of the Borrower and its Subsidiaries, taken as a whole, infringes
upon any rights held by any other Person. No claim or litigation regarding any of the foregoing is pending or, to the knowledge of
the Borrower, threatened, which, either individually or in the aggregate, would reasonably be
expected to have a Material Adverse Effect.

ARTICLE VI.

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder (other than in respect of contingent obligations, indemnities and costs and expenses
related thereto not then payable or in existence as of the Maturity Date) shall remain unpaid or
unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall, and shall
(except in the case of the covenants set forth in Sections 6.01, 6.02, and
6.03) cause each Subsidiary to:

     6.01 Financial Statements. Deliver to the Administrative Agent and each Lender:

     (a) as soon as available, but in any event within 90 days after the end of each fiscal year of
the Borrower (commencing with the fiscal year ended December 31, 2006), a consolidated balance
sheet of the Borrower 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 such
fiscal year, 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 a
report and opinion of a Registered Public Accounting Firm of nationally recognized standing, 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

     (b) as soon as available, but in any event within 45 days after the end of each of the first
three fiscal quarters of each fiscal year of the Borrower (commencing with the fiscal quarter ended
March 31, 2007), a consolidated balance sheet of the Borrower 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 the Borrower’s

51

 

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, chief
financial officer, treasurer or controller of the Borrower as fairly presenting the financial
condition, results of operations, shareholders’ equity and cash flows of the Borrower 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 6.02(d),
the Borrower shall not 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 the Borrower to furnish
the information and materials described in clauses (a) and (b) above at the times specified
therein.

     6.02 Certificates; Other Information. Deliver to the Administrative Agent:

     (a) concurrently with the delivery of the financial statements referred to in Sections
6.01(a) and (b) (commencing with the delivery of the financial statements for the
fiscal quarter ended March 31, 2007), a duly completed Compliance Certificate signed by a
Responsible Officer of the Borrower;

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

     (c) 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 the Borrower, and copies of
all annual, regular, periodic and special reports and registration statements which the Borrower
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 the Administrative Agent pursuant
hereto;

     (d) 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 6.01 or any other clause of this Section 6.02;

     (e) promptly 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;

     (f) promptly after the receipt thereof, copies of any written notice delivered by the FCC
stating that a Loan Party is not in compliance with the terms of the FCC Pre-Approval Letter; and

52

 

     (g) promptly, such additional information regarding the business, financial or corporate
affairs of the Borrower or any Subsidiary, or compliance with the terms of the Loan Documents, as
the Administrative Agent or any Lender may from time to time reasonably request.

     Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(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 the Borrower posts such documents, or provides a link thereto on
the Borrower’s website on the Internet at the website address listed on Schedule 10.02;
(ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet
website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); or (iii) on
which such documents are filed for public availability on the SEC’s Electronic Data Gathering and
Retrieval system; provided that: (i) the Borrower shall deliver paper copies of such
documents to the Administrative Agent or any Lender that requests the Borrower to deliver such
paper copies until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) the Borrower shall notify the Administrative Agent and
each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to
the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such
documents. Notwithstanding anything contained herein, in every instance the Borrower shall be
required to provide paper copies of the Compliance Certificates required by Section 6.02(b)
to the Administrative Agent. Except for such Compliance Certificates, the Administrative 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 the Borrower 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.

     The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger will
make available to the Lenders and the L/C Issuer materials and/or information provided by or on
behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the
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 the Borrower or its securities) (each, a
“Public Lender”). The Borrower hereby agrees that so long as the 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 (w) all Borrower Materials that
are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC”
which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page
thereof; (x) by marking Borrower Materials “PUBLIC”, the Borrower shall be deemed to have
authorized the Administrative Agent, the Arranger, the L/C Issuer and the Lenders to treat such
Borrower Materials as not containing any material non-public information with respect to the
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, such Borrower Information shall be subject to the confidentiality requirements set
forth in Section 10.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be
made available through a portion of the Platform designated “Public Investor”; and (z) the
Administrative Agent and the

53

 

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, the Borrower shall be under no obligation to mark any Borrower
Materials “PUBLIC.” In connection with the foregoing, each party hereto acknowledges and agrees
that the foregoing provisions are not in derogation of their confidentiality obligations under
Section 10.07 hereof. In addition, each party hereto acknowledges and agrees that no
person shall be granted access to the Platform without having agreed to an electronic or written
confidentiality undertaking or agreement that complies with the requirements of Regulation FD
promulgated under the Securities Exchange Act of 1934.

     6.03 Notices. Promptly notify the Administrative Agent and each Lender:

     (a) of the occurrence of any Default;

     (b) of any matter that has resulted or would 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 the Borrower or any Subsidiary; (ii) any dispute, litigation, investigation,
proceeding or suspension between the Borrower or any Subsidiary and any Governmental Authority; or
(iii) the commencement of, or any material development in, any litigation or proceeding affecting
the Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws;

     (c) of the occurrence of any ERISA Event; and

     (d) of any material change in accounting policies or financial reporting practices by the
Borrower or any Subsidiary.

     Each notice pursuant to this Section 6.03 shall be accompanied by a statement of a
Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and
stating what action the Borrower has taken and proposes to take with respect thereto. Each notice
pursuant to Section 6.03(a) shall describe with particularity any and all provisions of
this Agreement and any other Loan Document that have been breached.

     6.04 Payment of Tax Obligations. Pay and discharge all tax liabilities, assessments and
governmental charges or levies upon it or its properties or assets, unless (1) the same are being
contested in good faith by appropriate proceedings diligently conducted and adequate reserves in
accordance with GAAP are being maintained by the Borrower or such Subsidiary or (2) the nonpayment
of such liabilities, assessments, charges or levies would not be reasonably expected to result in a
Material Adverse Effect.

     6.05 Preservation of Existence, Etc. 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 7.04 or 7.05; (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 would 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 would reasonably
be expected to have a Material Adverse Effect.

54

 

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

     6.07 Maintenance of Insurance. Maintain with financially sound and reputable insurance
companies not Affiliates of the Borrower, 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 the Administrative
Agent of termination, lapse or cancellation of such insurance.

     6.08 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, writ, injunction or decree
is being contested in good faith by appropriate proceedings diligently conducted; or (b) the
failure to comply therewith would not reasonably be expected to have a Material Adverse Effect.

     6.09 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 the 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 the
Borrower or such Subsidiary, as the case may be, except, in each case, where the failure to so
maintain would not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect.

     6.10 Inspection Rights. Permit representatives and independent contractors of the
Administrative 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 and at such reasonable times during normal business hours and as often as may be
reasonably desired, upon reasonable advance notice to the Borrower; provided, that up to
two such visits by the Administrative Agent during any fiscal year of the Borrower shall be at the
expense of the Borrower; and provided, further, that when an Event of Default
exists the Administrative Agent or any Lender (or any of their respective representatives or
independent contractors) may do any of the foregoing at the expense of the Borrower.

     6.11 Use of Proceeds. Use the proceeds of the Credit Extensions (i) for working capital,
capital expenditures and general corporate purposes, (ii) to finance, in whole or in part,
Permitted Acquisitions, and (iii) to refinance all amounts outstanding under the Existing Credit
Agreement, in each case, not in contravention of any Law or of any Loan Document.

55

 

     6.12 Additional Guarantors. Notify the Administrative Agent within 10 days of the date that
any Person (i) becomes a Domestic Subsidiary (other than an Immaterial Subsidiary) or (ii) remains
a Domestic Subsidiary but ceases to be an Immaterial Subsidiary and promptly thereafter (and in any
event within 30 days), cause such Person to (a) become a Guarantor by executing and delivering to
the Administrative Agent a Guaranty Joinder Agreement or such other document as the Administrative
Agent shall deem appropriate for such purpose and (b) deliver to the Administrative 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)), all in form,
content and scope reasonably satisfactory to the Administrative Agent.

     6.13 Material Contracts. With respect to any material Contractual Obligation of the Borrower
or its Subsidiaries, preserve, renew and maintain in full force and effect any such material
Contractual Obligation and prevent any significant adverse change in any such material Contractual
Obligation, in any case, except to the extent that the failure to do so, either individually or in
the aggregate, would not reasonably be expected to result in a reduction of gross revenues of the
Borrower and its Subsidiaries, on a consolidated basis, by more than 50% in the next succeeding
four quarter period as measured in comparison to such gross revenues for the immediately preceding
four quarter period most recently ended.

ARTICLE VII.

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder (other than in respect of contingent obligations, indemnities and costs and expenses
related thereto not then payable or in existence as of the Maturity Date) shall remain unpaid or
unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall not, nor shall it
permit any Subsidiary to, directly or indirectly:

     7.01 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 7.01 and any renewals or
extensions thereof, provided that (i) the property covered thereby is not increased, (ii)
the amount secured or benefited thereby is not increased except as contemplated by Section
7.03(b) and (iii) any renewal or extension of the obligations secured or benefited thereby is
permitted by Section 7.03(b);

     (c) Liens for taxes not yet due 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;

56

 

     (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) easements, rights-of-way, restrictions, municipal, building and zoning ordinances 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;

     (h) Liens securing judgments for the payment of money not constituting an Event of Default
under Section 8.01(h) or securing appeal or surety bonds related to such judgments;

     (i) Liens securing Indebtedness permitted under Section 7.03(e); provided that
(i) such Liens do not at any time encumber any property other than the property financed by such
Indebtedness and proceeds thereof 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; and

     (j) (x) Liens on property of a Person existing at the time such Person is merged into or
consolidated with the Borrower or any Subsidiary of the Borrower or becomes a Subsidiary of the
Borrower; provided that such Liens were not created in contemplation of such merger,
consolidation or investment and do not extend to any assets other than those of the Person merged
into or consolidated with the Borrower or such Subsidiary or acquired by the Borrower or such
Subsidiary; and (y) Liens on property of a Person existing at the time such property is purchased
by the Borrower or any Subsidiary of the Borrower in a transaction constituting a Permitted
Acquisition permitted hereunder; provided, that such Liens were not created in
contemplation of such Permitted Acquisition;

     (k) Liens arising solely by virtue of any consensual agreement or statutory or common law
provision relating to banker’s liens, rights of set-off or similar rights and remedies as to
deposit accounts or other funds maintained with a creditor depository institution;

     (l) leases, subleases, licenses and rights-of-use granted to others incurred in the ordinary
course of business and that do not materially and adversely affect the use of the property
encumbered thereby for its intended purposes; and

     (m) other Liens securing Indebtedness or other obligations otherwise permitted hereunder,
provided the principal amount of any such Indebtedness and the amount of such obligations, in the
aggregate, do not exceed $3,000,000 outstanding at any time.

57

 

     7.02 Investments. Make any Investments, except:

     (a) Investments held by the Borrower or such Subsidiary in the form of Liquid Assets;

     (b) advances to officers, directors and employees of the Borrower and Subsidiaries 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 the Borrower in any Guarantor and Investments of any Subsidiary in the
Borrower or in a Guarantor;

     (d) (1) 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; and (2)
Investments received in satisfaction of judgments or pursuant to any plan or reorganization or
similar arrangement upon the bankruptcy or insolvency of trade creditors or account debtors;

     (e) Guarantees permitted by Section 7.03;

     (f) Permitted Acquisitions;

     (g) Investments in Foreign Subsidiaries; provided, that the aggregate amount of all
Investments made pursuant to this clause (g) shall not exceed $5,000,000 in the aggregate during
any calendar year; provided further, that to the extent the aggregate amount of
Investments made pursuant to this clause (g) during any calendar year is less than the maximum
amount of Investments permitted to be made under this clause (g) during such calendar year
(including in that calculation any unused amount of such permitted Investments carried forward from
a prior calendar year), such unused amount of permitted Investments may be carried forward to the
immediately following calendar year; and provided further, that the aggregate
amount of all Investments pursuant to this clause (g) shall not exceed $20,000,000 in the aggregate
during the term of this Agreement;

     (h) Investments made by the Borrower or a Guarantor in Immaterial Subsidiaries in an aggregate
amount not to exceed $2,000,000 during any calendar year or Investments made by an Immaterial
Subsidiary in another Immaterial Subsidiary;

     (i) Investments made or received as a result of consideration received in connection with a
Disposition by the Borrower or any of its Subsidiaries made in compliance with Section
7.05; provided, that in the event the aggregate consideration for such Disposition
exceeds $25,000,000, the non-cash consideration for such Disposition shall not exceed 50% of such
aggregate consideration;

     (j) Investments existing as of the date hereof and set forth on Schedule 7.02 and any
replacements, renewals or extensions of any such Investments; provided that the amount of
any such Investment is not increased at the time of such replacement, renewal or extension of such
Investment except by an amount equal to a reasonable premium or other reasonable amount paid

58

 

in respect of the underlying obligations and fees and expenses reasonably incurred in
connection with such replacement, renewal or extension; provided further that the
terms relating to subordination (if any) and other material terms taken as a whole in respect of
such replacement, renewed or extended Investment and of any agreement entered into and of any
instrument issued in connection therewith, are not less favorable in any material respect to the
Loan Parties or the Lenders than the terms of any agreement or instrument governing the Investment
being replaced, renewed or extended;

     (k) Investments, payments or advances by the Borrower in respect of Swap Contracts permitted
hereunder;

     (l) Investments by the Borrower and its Subsidiaries in Persons that are not Subsidiaries;
provided that the aggregate amount of all Investments made pursuant to this clause (l)
shall not exceed $10,000,000 in the aggregate during any calendar year; provided
further, that to the extent the aggregate amount of Investments made pursuant to this
clause (l) during any calendar year is less than the maximum amount of Investments permitted to be
made under this clause (l) during such calendar year (including in that calculation any unused
amount of such permitted Investments carried forward from a prior calendar year), such unused
amount of permitted Investments may be carried forward to the immediately following calendar year;
and provided further, that the aggregate amount of all Investments pursuant to this
clause (l) shall not exceed $40,000,000 in the aggregate during the term of this Agreement;

     (m) Investments made or received by the Borrower or any of its Subsidiaries as a result of an
“earn out” or other similar purchase price mechanism (such as a working capital adjustment) in
connection with a Permitted Acquisition; and

     (n) additional Investments not exceeding $5,000,000 in the aggregate outstanding at any time.

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

     (a) Indebtedness under the Loan Documents;

     (b) Indebtedness outstanding on the date hereof and listed on Schedule 7.03;

     (c) Guarantees of the Borrower or any Subsidiary in respect of Indebtedness otherwise
permitted hereunder of the Borrower or any other Guarantor;

     (d) obligations (contingent or otherwise) of the Borrower or any Subsidiary existing or
arising under any Swap Contract, provided that 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;”

     (e) Indebtedness in respect of Capital Lease Obligations, Synthetic Lease Obligations and
purchase money obligations for fixed or capital assets within the limitations set forth in
Section 7.01(i); provided, however, that the aggregate amount of all
such Indebtedness at any one time outstanding shall not exceed $25,000,000;

59

 

     (f) Subordinated Debt of the Borrower or any Guarantor; provided, however,
that the aggregate amount of all such Indebtedness at any one time outstanding shall not exceed
$350,000,000;

     (g) intercompany Indebtedness between the Borrower and any of its Subsidiaries or between
Subsidiaries permitted by Section 7.02 that by its express terms is Subordinated
Intercompany Debt;

     (h) (i) Indebtedness assumed by Borrower or any Subsidiary (whether by merger, operation of
law or otherwise) in connection with a Permitted Acquisition that was not created in anticipation
of such Permitted Acquisition and (ii) Indebtedness of any Person that becomes a Subsidiary
pursuant to a Permitted Acquisition that is outstanding at the time such Permitted Acquisition is
consummated and that was not created in anticipation of such Permitted Acquisition;

     (i) any refinancings, refundings, renewals or extensions of Indebtedness permitted pursuant to
Section 7.03(b), (e) and (f); 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 the Lenders than the terms of any
agreement or instrument governing the Indebtedness being refinanced, refunded, renewed or extended;

     (j) Indebtedness payable to the Person, or the beneficial holders of Equity Interests in the
Person, whose assets or Equity Interests are acquired in a Permitted Acquisition as consideration
for such acquisition where such Indebtedness (i) is payable in full no sooner than two years from
the date of such Acquisition, (ii) is repayable in installments of no more than one-third of the
initial amount in any year after the date of such Permitted Acquisition, and (iii) bears interest
and fees that are consistent with then available market rates for such Indebtedness;

     (k) “earn outs” or similar purchase price mechanisms (such as a working capital adjustment)
contemplated by the definitive documentation in respect of Permitted Acquisitions to the extent
constituting Indebtedness and calculated based on either (A) an evaluation of the amount as of a
date on or about the acquisition closing date of the assets or property acquired in accordance with
the procedures set forth therein or (B) the achievement of financial or other objective performance
targets set forth therein after the consummation of such Permitted Acquisition;

60

 

     (l) Indebtedness of any Foreign Subsidiary, so long as the aggregate principal amount of
Indebtedness at any time outstanding with respect to all Foreign Subsidiaries does not exceed
$5,000,000; and

     (m) additional Indebtedness in an aggregate principal amount not to exceed $10,000,000 at any
time outstanding.

     7.04 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) the Borrower, provided that the Borrower shall
be the continuing or surviving Person, or (ii) any one or more other Subsidiaries, provided
that when any Guarantor is merging with another Subsidiary, the Guarantor shall be the continuing
or surviving Person;

     (b) any Subsidiary may Dispose of all or substantially all of its assets (upon voluntary
liquidation or otherwise) to the Borrower or to another Subsidiary; provided that if the
transferor in such a transaction is a Guarantor, then the transferee must either be the Borrower or
a Guarantor;

     (c) any Immaterial Subsidiary may merge with any other Immaterial Subsidiary and any Foreign
Subsidiary may merge with any other Foreign Subsidiary;

     (d) any Subsidiary may be merged, consolidated with or otherwise disposed of pursuant to a
Disposition permitted by Section 7.05;

     (e) any Immaterial Subsidiary may be dissolved or liquidated; and

     (f) any Subsidiary may merge or consolidate with any Person pursuant to a Permitted
Acquisition; provided that (i) the Person surviving such merger shall be a Wholly-Owned
Subsidiary of the Borrower and (ii) in the case of any such merger or consolidation involving a
Guarantor, the Person surviving such merger or consolidation shall be a Guarantor.

     7.05 Dispositions. Make any Disposition, except:

     (a) Dispositions of excess, obsolete or worn out property, or property that, in the reasonable
business judgment of the Borrower is no longer useful or economically practicable to maintain in
the conduct of the business of the Borrower and its Subsidiaries taken as a whole, 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;

61

 

     (d) Dispositions of property by any Subsidiary to the Borrower or to a Wholly-Owned
Subsidiary; provided that if the transferor of such property is a Guarantor, the transferee
thereof must either be the Borrower or a Guarantor;

     (e) Dispositions permitted by Section 7.04;

     (f) licenses of IP Rights so long as any such license, individually or in the aggregate with
all such licenses, does not materially impair the business of the Borrower and its Subsidiaries
taken as a whole as currently conducted;

     (g) leases of real or personal property in the ordinary course of business;

     (h) Dispositions of (A) Equity Interests of Immaterial Subsidiaries or Foreign Subsidiaries
and (B) business units of the Borrower or any Subsidiary; provided that the fair market
value of the assets subject to any Disposition under this paragraph (h) shall not, taken together
with the aggregate fair market value of all assets Disposed of during the term of this Agreement
pursuant to this paragraph (h), as determined at the time each such Asset was so Disposed of,
exceed an amount equal to 10% of the consolidated total assets of the Borrower and its Subsidiaries
as of the last day of the most recent fiscal quarter in respect of which financial statements have
been delivered pursuant to Section 6.01; provided, further, that any Disposition
permitted by this paragraph (h) at the time consummated shall be deemed permitted at all times
thereafter even if subsequent to the date such Disposition was consummated the amount of
consolidated total assets of the Borrower and its Subsidiaries has decreased;

     (i) Dispositions of accounts receivable and other rights to payment for collection purposes in
the ordinary course of business;

     (j) Dispositions of property by any Subsidiary that is not a Loan Party to any Loan Party or
any another Subsidiary that is not a Loan Party;

     (k) Dispositions during fiscal year 2007 of assets that are not essential to the core business
of the Borrower and its Subsidiaries as of the date hereof; provided, that the Consolidated
EBITDA attributable to such assets in the aggregate for the most recent four quarters for which
financial statements are available does not exceed $2,000,000;

     (l) other Dispositions in an aggregate amount not to exceed $5,000,000 in any calendar year;

provided, however, that any Disposition pursuant to clauses (a), (b), (c), (f),
(g), (h) and (i) shall be for fair market value.

     7.06 Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, or
incur any obligation (contingent or otherwise) to do so, except that, so long as no Event of
Default shall have occurred and be continuing at the time of any action described below:

     (a) each Subsidiary may make Restricted Payments to the Borrower, the Guarantors and any other
Person 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;

62

 

     (b) the Borrower and each Subsidiary may declare and make dividend payments or other
distributions payable solely in the common stock or other common Equity Interests of such Person;

     (c) the 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 or Indebtedness permitted pursuant to
Section 7.03(f);

     (d) each Immaterial Subsidiary may make Restricted Payments to any Loan Party or another
Immaterial Subsidiary;

     (e) the Borrower or any of its Subsidiaries may purchase (i) Equity Interests in any Loan
Party or options with respect to Equity Interests in any Loan Party held by directors, employees or
management of the Borrower or any of its Subsidiaries (or their estates or authorized
representatives) in connection with the death, disability or termination of employment of any such
directors, employees or management and (ii) Equity Interests in any Loan Party for the purpose of
holding such Equity Interest for future issuance under an employee stock plan; provided
that all such payments in the aggregate for clauses (i) and (ii) do not exceed $1,000,000 in any
calendar year; provided, further that the amount available in any given calendar
year shall be increased by the excess, if any, of (i) $1,000,000 over (ii) the amount used pursuant
to this clause (e) in the immediately preceding two calendar years;

     (f) the Borrower may purchase shares of its capital stock in the event that one of its
shareholders is or becomes a telecommunications service provider or an affiliate thereof (in each
case as defined in the Borrower’s Restated Certificate of Incorporation) and is required to divest
its shares in accordance with the terms of the Borrower’s Restated Certificate of Incorporation;

     (g) the Borrower may (i) declare or pay cash dividends to its stockholders and (ii) purchase,
redeem or otherwise acquire for cash Equity Interests issued by it; provided, in each case,
that the Consolidated Leverage Ratio calculated as of the date of any such declaration (in the case
of dividends) or the date of any such Restricted Payment (in the case of any other Restricted
Payment) (including in the calculation thereof any Indebtedness incurred to finance any such
Restricted Payment) does not exceed 3.00 to 1.00; and

     (h) The Borrower and any of its Subsidiaries may repurchase capital stock of a Subsidiary from
any Person other than the Borrower and its Subsidiaries so long as the resulting Investment would
otherwise be permitted under Section 7.02.

     7.07 Change in Nature of Business. Engage in any material line of business substantially
different from those lines of business conducted by the Borrower and its Subsidiaries on the date
hereof or any business substantially related or incidental thereto, as determined in good faith by
the board of directors of the Borrower.

63

 

     7.08 Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate
of the Borrower, whether or not in the ordinary course of business, other than on fair and
reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be
obtainable by the Borrower or such Subsidiary at the time in a comparable arm’s length transaction
with a Person other than an Affiliate; provided that this Section shall not prohibit:

     (a) any contract, agreement or business arrangement (i) between or among the Borrower, any
Wholly-Owned Subsidiary and any Guarantor or (ii) between or among Subsidiaries that are not
Guarantors;

     (b) reasonable and customary director, officer and employee compensation (including bonuses)
and other benefits (including retirement, health, stock option and other benefit plans) and
reasonable and customary indemnification and reimbursement arrangements with respect to such
Persons, in each case approved by the board of directors of the Borrower;

     (c) loans or advances to employees and officers of Borrower and its Subsidiaries to the extent
permitted by the terms hereof;

     (d) contracts, agreements or business arrangements in effect as of the Closing Date and set
forth on Schedule 7.08;

     (e) Investments permitted by Section 7.02(g) and (h); and

     (f) Restricted Payments permitted by Section 7.06.

     7.09 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 the Borrower or any Guarantor or to otherwise transfer property to the Borrower or any
Guarantor, (ii) of any Subsidiary to Guarantee the Indebtedness of the Borrower or (iii) of the
Borrower or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such
Person; provided, however, that this clause (iii) shall not prohibit (1) any
negative pledge incurred or provided in favor of any holder of Indebtedness permitted under
Section 7.03(e) solely to the extent any such negative pledge relates to the property
financed by or the subject of such Indebtedness and any refinancing or replacement thereof
permitted by Section 7.03(i), (2) any negative pledge provided for in an agreement set
forth on Schedule 7.09 and any renewals, extensions or replacements thereof, provided that
the terms of such negative pledge are no less favorable in any material respect to the Loan Parties
or the Lenders than the terms of any agreement being renewed, extended or replaced, (3) any
restrictions imposed pursuant to an agreement that has been entered into in connection with a
Disposition permitted by Section 7.05, (4) restrictions arising by reason of customary
non-assignment or no-subletting clauses in leases or other contracts entered into in the ordinary
course of business and (5) customary provisions in joint venture agreements and other similar
agreements relating solely to the securities, assets and revenues of such joint venture or other
business venture; or (b) requires the grant of a Lien to secure an obligation of such Person if a
Lien is granted to secure another obligation of such Person.

     7.10 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.

64

 

     7.11 Financial Covenants.

     (a) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage
Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.

     (b) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the end
of any fiscal quarter of the Borrower to be greater than 3.00 to 1.00.

     7.12 Capital Expenditures. Make or become legally obligated to make any expenditure in
respect of the purchase or other acquisition of any fixed or capital assets (excluding normal
replacements and maintenance which are properly charged to current operations) in the aggregate in
any calendar year in excess of $30,000,000; provided that the amount not expended during
any calendar year (but excluding in that calculation any amount carried forward from a prior
calendar year) up to $10,000,000 may be carried forward to be expended during the immediately
following calendar year.

     7.13 Acquisitions. Make any Acquisition unless the following conditions are met:

     (a) the Borrower provides the Administrative Agent with a certificate of a Responsible Officer
certifying that after giving effect to such Acquisition and any Indebtedness related thereto
(including, but not limited to any Loans or other Indebtedness used in financing such Acquisition),
(i) the Borrower is in and will be in compliance with the financial covenants set forth in
Section 7.11 on a Pro Forma Basis for both the period of four consecutive fiscal quarters
ending as of the last day of the most recently completed fiscal quarter (the “Historic
Determination Period”) and the period of four consecutive fiscal quarters immediately
succeeding such day (the “Projected Determination Period”; each of the Historical
Determination Period and the Projected Determination Period, a “Determination Period”);
provided, that with regard to projected compliance for the Projected Determination Period,
such certification may be limited to the fact that such projection was prepared in good faith on
the basis of information and assumptions that the Borrower believed to be reasonable as of the date
such certificate is delivered (it being understood that the projections are subject to significant
uncertainties and contingencies, many of which are beyond the Borrower’s control, and that no
assurance can be given that the projections will be realized)), (ii) the Consolidated Leverage
Ratio, as calculated on a Pro Forma Basis for the Historic Determination Period is not greater than
2.75 to 1.00, and including a calculation thereof, and (iii) the Borrower’s cash on hand
immediately after consummation of the Acquisition, together with the remaining available Aggregate
Commitments, is not less than $25,000,000;

     (b) (i) the consummation of the Acquisition does not violate any Law or Contractual Obligation
applicable to the Borrower or its Subsidiaries, which violation would reasonably be expected to
have a Material Adverse Effect; (ii) there are no actions, suits, proceedings, or claims pending,
or, to the knowledge of the Borrower threatened, at law, in equity, in arbitration or before any
Governmental Authority against the Borrower or, to the knowledge of the Borrower,

65

 

the other party or parties to such Acquisition, challenging such Acquisition; and (iii) there
are no actions, suits, proceedings, or claims pending, at law, in equity, in arbitration or before
any Governmental Authority, to the knowledge of the Borrower, against the other party or parties to
such Acquisition which would reasonably be expected to result in a Material Adverse Effect; and

     (c) the Acquisition shall have been approved by the board of directors or comparable governing
body of the parties thereto, as applicable, or otherwise shall be of a non-hostile nature.

ARTICLE VIII.

EVENTS OF DEFAULT AND REMEDIES

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

     (a) Non-Payment. The 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. The Borrower fails to perform or observe any term, covenant
or agreement contained in any of Section 6.01, 6.03, 6.05 (other than in
respect of maintenance of good standing), 6.10, 6.11, 6.12 or 6.13
or Article VII; or

     (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or
agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part
to be performed or observed and such failure continues for 30 days after the earlier of (A) the
date upon which a Responsible Officer of such Loan Party knew of such failure or (B) the date upon
which written notice thereof is given to the Borrower by the Administrative Agent; or

     (d) Representations and Warranties. Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of 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) The 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 any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness
under Swap Contracts) having an aggregate principal amount of more than the Threshold Amount, or
(B) fails to observe or perform any other agreement or condition relating to any such Indebtedness
or Guarantee 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

66

 

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 the 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 the Borrower or any Subsidiary is an Affected Party (as so defined) and,
in either event, the Swap Termination Value owed by the Borrower or such Subsidiary as a result
thereof is greater than the Threshold Amount; or

     (f) Insolvency Proceedings, Etc. Any Loan Party or any of its Material Subsidiaries
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) The Borrower or any Material 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 the Borrower or any Material Subsidiary (i)
one or more final judgments or orders for the payment of money in an aggregate amount (as to all
such judgments or orders) exceeding the Threshold Amount (to the extent not covered by independent
third-party insurance), or (ii) any one or more non-monetary final judgments that have, or would
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 10 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 would reasonably be expected to result in liability of the Borrower
under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount
in excess of the Threshold Amount, or (ii) the 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 the Threshold Amount; or

     (j) Invalidity of Loan Documents. Any provision of any Loan Document, 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
provision of any Loan Document; 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 provision of any Loan Document; or

67

 

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

     8.02 Remedies Upon Event of Default. If any Event of Default occurs and is continuing, the
Administrative 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 the Borrower;

     (c) require that the Borrower cash collateralize the L/C Obligations in accordance with
Section 2.03(j); and

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

provided, however, that upon 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, 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 the Borrower to cash collateralize the L/C Obligations as aforesaid shall
automatically become effective, in each case without further act of the Administrative Agent or any
Lender.

     8.03 Application of Funds. After the exercise of remedies provided for in Section
8.02 (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 8.02), any amounts received on account of the Obligations shall be applied by
the Administrative 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 the
Administrative Agent and amounts payable under Article III) payable to the Administrative
Agent in its capacity as such;

     Second, to payment of that portion of the Obligations constituting fees, indemnities
and other amounts (other than principal, interest and Letter of Credit Fees) payable to the 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) and amounts payable under Article III),
ratably among them in proportion to the respective amounts described in this clause Second
payable to them;

68

 

     Third, to payment of that portion of the Obligations constituting accrued and unpaid
Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably
among the 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, ratably among the Lenders and the L/C Issuer in proportion to the
respective amounts described in this clause Fourth held by them;

     Fifth, to the Administrative 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 in accordance with the requirements of Section 2.03(j);

     Sixth, to payment of any Swap Termination Value to the extent owing to any Lender or
any Affiliate of any Lender arising under Related Swap Contracts that shall have been terminated
and as to which the Administrative Agent shall have received notice of such termination and the
Swap Termination Value thereof from the applicable Lender or Affiliate of a Lender; and

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

Subject to subsection 2.03(d) and (e), 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 such 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.

ARTICLE IX.

ADMINISTRATIVE AGENT

     Each of the Lenders and the L/C Issuer hereby irrevocably appoints the Administrative Agent as
its agent and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof, together
with such actions and powers as are reasonably incidental thereto.

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

     The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has

69

 

occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby that the Administrative Agent is required to exercise in writing as
directed by the Required Lenders (or such other number or percentage of the Lenders as shall be
necessary under the circumstances as provided in Section 10.01), and (c) except as
expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and shall
not be liable for the failure to disclose, any information relating to the Borrower or any of its
Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any
of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action
taken or not taken by it with the consent or at the request of the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 10.01) or in the absence of its own gross negligence or willful misconduct. The
Administrative Agent shall be deemed not to have knowledge of any Default unless and until written
notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the
Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i)
any statement, warranty or representation made in or in connection with 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, (iii) the performance or observance of any of the
covenants, agreements or other terms or conditions set forth herein or therein, (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 the Administrative Agent.

     The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the
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.

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

     Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the L/C
Issuer and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in
consultation with the Borrower, to appoint a successor; provided, that

70

 

such successor either is a Regulated Financial Institution or, in the judgment of the
Borrower, is not a TSP or a TSP Affiliate. If no successor shall have been so appointed by the
Required Lenders and shall have accepted such appointment within 30 days after the retiring
Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may,
on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent which shall
be a bank with an office in New York, New York, or an Affiliate of any such bank; provided,
that such successor either is a Regulated Financial Institution or, in the judgment of the
Borrower, is not a TSP or a TSP Affiliate. Upon the acceptance of its appointment as
Administrative Agent hereunder by a successor, such successor shall succeed to and become vested
with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the
retiring Administrative Agent shall be discharged from its duties and obligations hereunder and
under the other Loan Documents. The fees payable by the Borrower to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise agreed between the
Borrower and such successor. After the Administrative Agent’s resignation hereunder and under the
other Loan Documents, the provisions of this Article and Section 10.04 shall continue in
effect for the benefit of such retiring Administrative Agent, its sub agents and their respective
Related Parties in respect of any actions taken or omitted to be taken by any of them while it was
acting as Administrative Agent.

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

     The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option
and in its discretion, to release any Guarantor from its obligations under the Guaranty if such
Person ceases to be a Subsidiary, becomes an Immaterial Subsidiary or is dissolved, liquidated or
merged out of existence, in each case as a result of a transaction permitted hereunder.

     Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release any Guarantor from its obligations under
the Guaranty.

ARTICLE X.

MISCELLANEOUS

     10.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other
Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom,
shall be effective unless in writing signed by the Required Lenders and the Borrower or the
applicable Loan Party, as the case may be, and acknowledged by the Administrative 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:

71

 

     (a) waive any condition set forth in Section 4.01(a) without the written consent of
each Lender;

     (b) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated
pursuant to Section 8.02) without the written consent of such Lender;

     (c) postpone any date fixed by this Agreement or any other Loan Document for any payment of
principal, interest, fees or other amounts due to the 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 (v) of the second proviso to this Section 10.01) 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 the Borrower to pay interest or Letter of Credit 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 8.03 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;

     (g) other than as permitted by Article IX, release all or substantially all of the
Guarantors from their obligations under the Guaranty 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 the Swing Line Lender in addition to the Lenders required above, affect the rights or
duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall,
unless in writing and signed by the Administrative Agent in addition to the Lenders required above,
affect the rights or duties of the Administrative Agent under this Agreement or any other Loan
Document; and (iv) Section 10.06(h) may not be amended, waived or otherwise modified
without the consent of each Granting Lender all or any part of whose Loans are being funded by an
SPC at the time of such amendment, waiver or other modification; and (v) 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.

72

 

     10.02 Notices; Effectiveness; Electronic Communication.

     (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 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 the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line
Lender, to the address, telecopier number, electronic mail address or telephone number
specified for such Person on Schedule 10.02; 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 the 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 the Administrative
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
the Administrative Agent that it is incapable of receiving notices under such Article by electronic
communication. The Administrative Agent or the 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 the Administrative 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.

73

 

     (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 THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
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 THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its
Related Parties (collectively, the “Agent Parties”) have any liability to the 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 the Borrower’s or the
Administrative 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 the 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 the Borrower, the Administrative Agent, the L/C
Issuer and the 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 the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In
addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that
the Administrative 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.

     (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative
Agent, the L/C Issuer and the 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
the 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. The Borrower shall
indemnify the Administrative 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 the Borrower. All telephonic notices to and other
telephonic communications with the Administrative Agent may be recorded by the Administrative
Agent, and each of the parties hereto hereby consents to such recording.

74

 

     10.03 No Waiver; Cumulative Remedies. No failure by any Lender, the L/C Issuer or the
Administrative 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. Without limiting the generality of the foregoing, the
making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any
Default, regardless of whether the Administrative Agent, any Lender or the L/C Issuer may have had
notice or knowledge of such Default at the time.

     10.04 Expenses; Indemnity; Damage Waiver.

     (a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for the Administrative 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 the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges and
disbursements of any counsel for the Administrative Agent, any Lender or the L/C Issuer), and shall
pay all fees and time charges for attorneys who may be employees of the Administrative 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 the Borrower. The Borrower shall indemnify the Administrative
Agent (and any sub-agent thereof), 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
in connection with any such claim or liability), and shall indemnify and hold harmless each
Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of
any Indemnitee incurred in connection with any such claim or liability, incurred by any Indemnitee
or asserted against any Indemnitee by any third party or by the 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, the
consummation of the transactions contemplated hereby or thereby or, in the case of the
Administrative 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

75

 

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 the Borrower or any of its
Subsidiaries, or any Environmental Liability related in any way to the 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 the Borrower or any other Loan Party, and regardless of whether any
Indemnitee is a party thereto; provided that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages, 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 the Borrower or any other Loan Party against an Indemnitee for
breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if
the 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 the 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 the Administrative Agent (or any sub-agent thereof), the L/C Issuer, the Swing Line Lender or
any Related Party of any of the foregoing, each Lender severally agrees to pay to the
Administrative Agent (or any such sub-agent), the L/C Issuer, the Swing Line Lender 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 the Administrative Agent
(or any such sub-agent), the Swing Line Lender or the L/C Issuer in its capacity as such, or
against any Related Party of any of the foregoing acting for the Administrative Agent (or any such
sub-agent), the Swing Line Lender 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, the 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,
including 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 of willful misconduct of such Indemnitee as determined
by a final and nonappealable judgment of a court of competent jurisdiction.

76

 

     (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 the
Administrative Agent, the L/C Issuer and the Swing Line Lender, the replacement of any Lender, the
termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the
other Obligations.

     10.05 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is
made to the Administrative Agent, the L/C Issuer or any Lender, or the Administrative 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 the Administrative
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 (b) each Lender and the L/C Issuer severally agrees to pay to the
Administrative Agent upon demand its applicable share (without duplication) of any amount so
recovered from or repaid by the Administrative 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.

     10.06 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 (including any Affiliate of the L/C Issuer that issues any Letter of
Credit), except that neither the Borrower nor any other Loan Party may assign or otherwise transfer
any of its rights or obligations hereunder without the prior written consent of the Administrative
Agent 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, or (iv) to an SPC in accordance with the provisions
of subsection (h) 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 (including any Affiliate of the L/C Issuer that issues any Letter of
Credit), Participants to the extent provided in subsection (d) of this Section and, to the extent
expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C
Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this
Agreement.

77

 

     (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 Administrative 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 Administrative Agent and, so long as no Event of
Default has occurred and is continuing, the Borrower otherwise consents (each such
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 assignee (or to
an 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 other
than as set forth in this subsection (b)(iii) and, if applicable, in subsection (b)(i)(B) of
this Section:

     (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; provided that it shall not be
deemed unreasonable for the Borrower to withhold any such consent to an assignment
that would cause the Borrower to incur additional “gross up” costs with respect to
the prospective assignee;

78

 

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required unless such assignment is to a
Person that is (x) a Lender, an Affiliate of such Lender or an Approved Fund with
respect to such Lender and (y) a Regulated Financial Institution;

     (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 Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee in the amount of $3,500; provided, however,
that the Administrative 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 Administrative 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.

     (vii) Lender Neutrality Information. No such assignment shall be made to a
Person that is not a Regulated Financial Institution unless the assignee, as a condition to
such assignment, shall have delivered to the Borrower information of the type described in
Section 10.19 and such assignee, in the Borrower’s reasonable judgment, is not a TSP
or TSP Affiliate, or does not otherwise compromise the Borrower’s neutrality obligations, as
set forth in Section 52.12(a) of the rules of the FCC.

     Subject to acceptance and recording thereof by the Administrative 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 10.04
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.

79

 

     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower, shall maintain at the 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 the Borrower, the Administrative Agent and the Lenders may
treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by the Borrower and any Lender, at any reasonable time and from
time to time upon reasonable prior notice.

     (d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower, the L/C Issuer, Swing Line Lender or the Administrative 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 Administrative Agent, the Lenders, the Swing Line
Lender 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 10.01 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 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 10.08 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 the 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 the Borrower is notified of the participation sold to
such Participant and such Participant agrees, for the benefit of the Borrower, to comply with
Section 3.01(e) as though it were a Lender.

80

 

     (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; provided, further, that no such pledgee shall be a TSP or TSP
Affiliate.

     (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) Special Purpose Funding Vehicles. Notwithstanding anything to the contrary
contained herein, but subject to Section 10.06(b)(vii), any Lender (a “Granting Lender”)
may grant to a special purpose funding vehicle identified as such in writing from time to time by
the Granting Lender to the Administrative Agent and the Borrower (an “SPC”) the option to
provide all or any part of any Committed Loan that such Granting Lender would otherwise be
obligated to make pursuant to this Agreement; provided that (i) nothing herein shall
constitute a commitment by any SPC to fund any Committed Loan, and (ii) if an SPC elects not to
exercise such option or otherwise fails to make all or any part of such Committed Loan, the
Granting Lender shall be obligated to make such Committed Loan pursuant to the terms hereof or, if
it fails to do so, to make such payment to the Administrative Agent as is required under
Section 2.12(b)(ii). Each party hereto hereby agrees that (i) neither the grant to any SPC
nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise
increase or change the obligations of the Borrower under this Agreement (including its obligations
under Section 3.04), (ii) no SPC shall be liable for any indemnity or similar payment
obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender
shall for all purposes, including the approval of any amendment, waiver or other modification of
any provision of any Loan Document, remain the lender of record hereunder. The making of a
Committed Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same
extent, and as if, such Committed Loan were made by such Granting Lender. In furtherance of the
foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this
Agreement) that, prior to the date that is one year and one day after the payment in full of all
outstanding commercial paper or other senior debt of any SPC, it will not institute against, or
join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement,
insolvency, or liquidation proceeding under the laws of the United States or any State thereof.
Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but
without prior consent of the Borrower and the Administrative Agent and with the payment of a
processing fee in the amount of $3,500 (which processing fee may be waived by the Administrative
Agent in its sole discretion), assign all or any portion of its right to receive payment with
respect to any Committed Loan to the Granting Lender and (ii) disclose on a confidential basis any
non-public information relating to its funding of Committed Loans to

81

 

any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or
liquidity enhancement to such SPC.

     (i) Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time JPMorgan Chase Bank assigns all of its
Commitment and Loans pursuant to subsection (b) above, JPMorgan Chase Bank may, (i) upon 30 days’
notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days’ notice to
the Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or
Swing Line Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C
Issuer or Swing Line Lender hereunder; provided, however, that no failure by the
Borrower to appoint any such successor shall affect the resignation of JPMorgan Chase Bank as L/C
Issuer or Swing Line Lender, as the case may be. If JPMorgan Chase Bank 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 effective date of its resignation as L/C Issuer and
all L/C Obligations with respect thereto (including the right to require the Lenders to make Base
Rate Committed Loans or fund risk participations in L/C Disbursements and reimbursement refund
obligations pursuant to Section 2.03(d)). If JPMorgan Chase Bank resigns as Swing Line
Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect
to Swing Line Loans made by it and outstanding as of the effective 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 successor
or make other arrangements satisfactory to JPMorgan Chase Bank to effectively assume the
obligations of JPMorgan Chase Bank with respect to such Letters of Credit.

     10.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent,
the 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 on a need-to-know basis (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 the Borrower and its obligations, (g) with the consent of the Borrower or (h) to the extent such
Information (x) becomes publicly available other than as a result of a breach of this

82

 

Section or (y) becomes available to the Administrative Agent, any Lender, the L/C Issuer or
any of their respective Affiliates on a nonconfidential basis from a source other than the
Borrower.

     For purposes of this Section, “Information” means all information received from the
Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective
businesses, other than any such information that is available to the Administrative Agent, any
Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower or any
Subsidiary. 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 reasonable care to protect such Information, and in no event less than the same degree of
care to maintain the confidentiality of such Information as such Person would accord to its own
confidential information.

     Each of the Administrative Agent, the Lenders and the L/C Issuer acknowledges that (a) the
Information may include material non-public information concerning the 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 Federal and state securities Laws.

     10.08 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 the Borrower or any other
Loan Party against any and all of the obligations of the Borrower or such Loan Party now or
hereafter existing under this Agreement or any other Loan Document due and owing to such Lender or
the L/C Issuer, irrespective of whether or not such obligations of the Borrower or such Loan Party
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 the Borrower and the Administrative
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.

     10.09 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
the Administrative 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 the Borrower. In determining whether the interest contracted for,
charged, or received by the Administrative 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.

83

 

     10.10 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 the Administrative Agent and when the Administrative 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 and any
other Loan Document by telecopy shall be effective as delivery of a manually executed counterpart
of this Agreement and the other Loan Documents.

     10.11 Survival. 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 delivery hereof and thereof. Such representations and
warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless
of any investigation made by the Administrative Agent or any Lender or on their behalf and
notwithstanding that the Administrative 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. The provisions of Sections 3.01, 3.04, 3.05 and 10.04 and Article
IX shall survive and remain in full force and effect regardless of the consummation of the
transactions contemplated hereby and any other Loan document, the repayment of the Loans, the
expiration or termination of the Letters of Credit and the Commitments or the termination of this
Agreement or any provision hereof.

     10.12 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.

     10.13 Replacement of Lenders. If any Lender requests compensation under Section 3.04,
or if the 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, if any Lender is a
Defaulting Lender or if any other circumstance exists hereunder that gives the Borrower the right
to replace a Lender as a party hereto or any Lender shall refuse to consent to a waiver or
amendment to, or a departure from, the provisions of this Agreement or any other Loan Document
which requires the consent of all Lenders and that has been consented to by the Required Lenders,
then the Borrower may, at its sole expense and effort, upon notice to such

84

 

Lender and the Administrative 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 10.06), 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) the Borrower shall have paid to the Administrative Agent the assignment fee specified in
Section 10.06(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
the 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;

     (d) such assignment does not conflict with applicable Laws; and

     (e) neither the Administrative Agent not any Lender shall be obligated to be or to find the
assignee.

     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 the Borrower to
require such assignment and delegation cease to apply.

     10.14 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. THE 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 NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT
OF 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

85

 

PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY
RIGHT THAT THE ADMINISTRATIVE 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 THE BORROWER OR
ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

     (c) WAIVER OF VENUE. THE 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 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

     10.15 Waiver of Jury Trial. 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 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.

     10.16 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby, the Borrower and each other Loan Party acknowledges and agrees,
and acknowledges its Affiliates’ understanding, that: (i) the credit facility provided for
hereunder and any related arranging or other services in connection therewith (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document)
are an arm’s-length commercial transaction between the Borrower , and each other Loan Party and
their respective Affiliates, on the one hand, and the Administrative Agent and the Arranger, on the
other hand, the Borrower and each other Loan Party is capable of evaluating

86

 

and understanding and understands and accepts the terms, risks and conditions of the
transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver
or other modification thereof or thereof); (ii) in connection with the process leading to such
transaction, the Administrative Agent and the Arranger each is and has been acting solely as a
principal and is not the financial advisor, agent or fiduciary, for the Borrower, any other Loan
Party or any of their respective Affiliates, stockholders, creditors or employees or any other
Person; (iii) neither the Administrative Agent nor any Arranger has assumed or will assume an
advisory, agency or fiduciary responsibility in favor of the Borrower or any other Loan Party with
respect to any of the transactions contemplated hereby or the process leading thereto, including
with respect to any amendment, waiver or other modification hereof or of any other Loan Document
(irrespective of whether the Administrative Agent or the Arranger has advised or is currently
advising the Borrower, any other Loan Party or any of their respective Affiliates on other matters)
and neither the Administrative 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; (iv)
the Administrative Agent, the Arrangers and their respective Affiliates may be engaged in a broad
range of transactions that involve interests that differ from those of the Borrower, the other Loan
Parties and their respective Affiliates, and neither the Administrative Agent nor the Arranger has
any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary
relationship; and (v) neither the Administrative Agent nor the Arranger has provided nor will it
provide any legal, accounting, regulatory or tax advice with respect to any of the transactions
contemplated hereby (including any amendment, waiver or other modification hereof or of any other
Loan Document) and 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. Each of the
Borrower and the other Loan Parties hereby waives and releases, to the fullest extent permitted by
law, any claims that it may have against the Administrative Agent or the Arranger with respect to
any breach or alleged breach of agency or fiduciary duty.

     10.17 USA PATRIOT Act Notice. Each Lender that is subject to the Act (as hereinafter defined)
and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the
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 “Patriot Act”), it is required to obtain, verify
and record information that identifies the Borrower, which information includes the name and
address of the Borrower and other information that will allow such Lender or the Administrative
Agent, as applicable, to identify the Borrower in accordance with the Patriot Act, and the Borrower
hereby agrees to provide the Administrative Agent and each Lender with all information necessary in
order for the Administrative Agent and each Lender to comply with the Patriot Act.

     10.18 Time of the Essence. Time is of the essence of the Loan Documents.

     10.19 Lender Neutrality to Telecommunications Service Providers. (a) Generally. Each
Agent, each Lender and each L/C Issuer that is not a Regulated Financial Institution shall each
within a reasonable period of time provide the Borrower with such information as the Borrower may
from time to time (not to exceed a commercially reasonable number of times in any consecutive
twelve-month period) reasonably request in order

87

 

to determine whether such Person is a TSP or TSP Affiliate. In the event that such Person (1)
fails to so provide such information or (2) in the Borrower’s judgment, is a TSP or TSP Affiliate,
or otherwise compromises the Borrower’s neutrality obligations, as set forth in Section 52.12(a) of
the rules of the FCC, then after giving notice to the Administrative Agent and such Agent, Lender
or L/C Issuer, as applicable, the Borrower, in its sole discretion, may:

     (i) in the case of a Lender, (A) replace such Lender in accordance with the provisions of
Section 10.13 or (B) voluntarily prepay such Lender’s Committed Loans, terminate such
Lender’s status as a “Lender” and permanently reduce the Aggregate Commitments hereunder by the
amount of such Lender’s Commitment; provided, that in the event such Lender is an L/C
Issuer with respect to any Letter of Credit outstanding at the time of such replacement or
prepayment, the Borrower’s reimbursement obligations in respect of such Letter of Credit shall have
been fully supported by a Letter of Credit in form and substance, and issued by a L/C Issuer,
reasonably satisfactory to such Lender; provided, further, that the provisions of
Section 2.05(a) shall not apply to any such prepayment and the provisions of Section
2.06 shall not apply to any such reduction in Aggregate Commitments;

     (ii) in the case of any L/C Issuer, terminate such Person’s capacity as an L/C Issuer and/or
replace such L/C Issuer in accordance with the provisions of Section 2.03(i) (other than
the first sentence thereof);

     (iii) in the case of the Administrative Agent, request the resignation of the Administrative
Agent, after which the Administrative Agent shall resign and a successor shall be appointed, each
in accordance with the provisions of Article IX hereof; and

     (iv) in the case of any Agent other than the Administrative Agent, request the resignation of
such Agent, after which such Agent shall resign.

     Any prepayment of Committed Loans pursuant to clause (i)(B) above that is a Eurodollar Loan
shall be accompanied by accrued interest on the amount prepaid, together with any additional
amounts required pursuant to Section 3.05.

     (b) Confidentiality of TSP Information. The Borrower agrees to maintain the
confidentiality of the TSP Information (as defined below), except that TSP Information may be
disclosed (a) to the extent requested by any regulatory authority purporting to have jurisdiction
over it, (b) to the extent required by applicable laws or regulations or by any subpoena or similar
legal process, (c) with the consent of the party providing the TSP Information, whether Agent,
Lender or L/C Issuer or (d) to the extent such TSP Information (x) becomes publicly available other
than as a result of a breach of this Section or (y) becomes available to the Borrower on a
nonconfidential basis from a source other than the Agent or respective Lender or L/C Issuer. For
purposes of this Section, “TSP Information” means all information received by the Borrower
from the Agent, any Lender or any L/C Issuer relating to the Agent, such Lender or such L/C Issuer,
as the case may be, or any of such Person’s Affiliates (or Persons that, assuming such Person was a
TSP, could be considered TSP Affiliates) or the respective businesses pursuant to or in connection
with Section 4.01, Article IX, Section 10.06 or this Section 10.19,
other than any such information that is available to the Borrower on a nonconfidential basis prior
to disclosure by the Agent, such Lender or such L/C Issuer, as the case may be. The Borrower shall

88

 

be considered to have complied with its obligation to maintain the confidentiality of TSP
Information as provided in this Section if it has exercised reasonable care to protect such TSP
Information, and in no event less than the same degree of care to maintain the confidentiality of
such TSP Information as it would accord to its own confidential information. The Borrower
acknowledges that (a) the TSP Information may include material non-public information concerning
each of the Agent, the Lenders and the L/C Issuer, 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 Federal and state
securities Laws.

     (c) Appointment of New Lender. In the event of a prepayment of Loans and a reduction
of Aggregate Commitments described in clause (a)(i)(B) above, the Borrower may thereafter, at its
sole expense and effort, and with the prior written consent of the Administrative Agent, invite an
additional Eligible Assignee to become a Lender who will provide a Commitment equal to the
Commitment of any Lender whose Commitment was terminated pursuant to clause (a)(i)(B) above
pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and
its counsel; provided, that

     (i) Compliance with Laws. The appointment of the Eligible Assignee as a new Lender
will not conflict with applicable Laws.

     (ii) Processing and Recordation Fee. The Borrower shall have paid the Administrative
Agent a processing or recordation fee of $3,500; provided, however, that the Administrative Agent
may, in its sole discretion, elect to waive such fee in any instance. The Eligible Assignee, if it
is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

     (iii) Minimum Amounts. The aggregate amount of the Commitment of the Eligible
Assignee shall not be less than $5,000,000 unless the Administrative Agent otherwise consents (such
consent not to be unreasonably withheld or delayed).

     Subject to acceptance and recording thereof by the Administrative Agent pursuant to
Section 10.06(c), from and after the date of such acceptance and recordation, the Eligible
Assignee shall be a party to this Agreement and, to the extent of its Commitment and Loans, have
the rights and obligations of a Lender under this Agreement. The Borrower shall prepay any
Committed Loans outstanding on such 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; provided, that the provisions of Section 2.05(a) shall not apply to any such
prepayments.

     (d) For the avoidance of doubt, for purposes of this Section 10.19 any reference to an
“Eligible Assignee” means a Person that meets the requirements of the definition thereof and in
respect of which all consents required under the Credit Agreement have been obtained.

     10.20 Release of Guarantors. At the request and sole expense of the Borrower, a Guarantor
shall be released from its obligations under the Guaranty in the event that such Person
ceases to be a Subsidiary, becomes an Immaterial Subsidiary or is dissolved, liquidated or
merged out of existence, in each case in compliance with the terms hereof.

89

 

     10.21 ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE
PARTIES.

(Signature Pages Follow)

90

 

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

	 	 	 	 	 
	 	NEUSTAR, INC.

 	 
	 	By:  	/s/
Jeffrey E. Ganek 	 
	 	 	Name:  	Jeffrey E. Ganek 	 
	 	 	Title:  	Chief
Executive Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as 

Administrative Agent

 	 
	 	By:  	/s/
John Kowalczuk 	 
	 	 	Name:  	John Kowalczuk 	 
	 	 	Title:  	Vice
President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Lender, 

L/C Issuer and Swing Line Lender

 	 
	 	By:  	/s/
John Kowalczuk	 
	 	 	Name:  	John
Kowalczuk	 
	 	 	Title:  	Vice
President	 
	 

 

 

	 	 	 	 	 
	 	CREDIT SUISSE, NEW YORK BRANCH 

 	 
	 	By:  	/s/
Alain Daoust	 
	 	 	Name:  	Alain
Daoust	 
	 	 	Title:  	Director	 
	 
	 	 	 
	 	By:  	/s/
Denise L. Alvarez	 
	 	 	Name:  	Denise
L. Alvarez	 
	 	 	Title:  	Associate	 

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY
AMERICAS 

 	 
	 	By:  	/s/
Yvonne Tilden	 
	 	 	Name:  	Yvonne
Tilden	 
	 	 	Title:  	Vice
President	 
	 
	 	 	 
	 	By:  	/s/
Andreas Neumeier	 
	 	 	Name:  	Andreas
Neumeier	 
	 	 	Title:  	Director	 
	 
	 	 	 
	 	 

 	 
	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

 

	 	 	 	 	 
	 	SUN TRUST BANK 

 	 
	 	By:  	/s/
Steven Hass	 
	 	 	Name:  	Steven
Hass	 
	 	 	Title:  	Senior Vice
President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]