Document:

Exhibit 10.1 to Tennant Company Form 8-K dated June 19, 2007

Exhibit 10.1 

	
 

	
EXECUTION COPY

	
 

	

CREDIT AGREEMENT

dated as of

June 19, 2007

among

TENNANT COMPANY

The Foreign Subsidiary Borrowers Party Hereto

The Lenders Party Hereto

and

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

as Administrative Agent

BANK OF AMERICA, N.A.

as Syndication Agent

and

BMO CAPITAL MARKETS FINANCING, INC. and U.S.
BANK NATIONAL ASSOCIATION

as Co-Documentation Agents

J.P. MORGAN SECURITIES INC.,

as Sole Bookrunner and Sole Lead Arranger

	

TABLE OF CONTENTS

	
 

	
 

	
 

	
Page

	
 

	

	
 

	
 

	
ARTICLE I Definitions

	
 

	
 

	
 

	
Defined
  Terms

	
1

	
SECTION
  1.02. Classification of Loans and Borrowings

	
19

	
SECTION
  1.03. Terms Generally

	
19

	
SECTION
  1.04. Accounting Terms; GAAP

	
19

	
 

	
 

	
ARTICLE II
  The Credits

	
20

	
 

	
 

	
SECTION
  2.01. Commitments

	
20

	
SECTION
  2.02. Loans and Borrowings

	
20

	
SECTION
  2.03. Requests for Revolving Borrowings

	
20

	
SECTION
  2.04. Determination of Dollar Amounts

	
21

	
SECTION
  2.05. Swingline Loans

	
22

	
SECTION
  2.06. Letters of Credit

	
22

	
SECTION
  2.07. Funding of Borrowings

	
26

	
SECTION
  2.08. Interest Elections

	
26

	
SECTION
  2.09. Termination and Reduction of Commitments

	
28

	
SECTION 2.10.
  Repayment of Loans; Evidence of Debt

	
28

	
SECTION
  2.11. Prepayment of Loans.

	
29

	
SECTION
  2.12. Fees

	
30

	
SECTION
  2.13. Interest

	
30

	
SECTION
  2.14. Alternate Rate of Interest

	
31

	
SECTION
  2.15. Increased Costs

	
32

	
SECTION
  2.16. Break Funding Payments

	
33

	
SECTION
  2.17. Taxes

	
33

	
SECTION
  2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

	
34

	
SECTION
  2.19. Mitigation Obligations; Replacement of Lenders

	
36

	
SECTION
  2.20. Expansion Option

	
36

	
SECTION
  2.21. Market Disruption

	
37

	
SECTION
  2.22. Judgment Currency

	
37

	
SECTION
  2.23. Designation of Foreign Subsidiary Borrowers

	
38

	
 

	
 

	
ARTICLE III Representations
  and Warranties

	
38

	
 

	
 

	
SECTION
  3.01. Organization; Powers; Subsidiaries

	
38

	
SECTION
  3.02. Authorization; Enforceability

	
39

	
SECTION
  3.03. Governmental Approvals; No Conflicts

	
39

	
SECTION
  3.04. Financial Condition; No Material Adverse Change

	
39

	
SECTION
  3.05. Properties

	
39

	
SECTION
  3.06. Litigation and Environmental Matters

	
40

	
SECTION
  3.07. Compliance with Laws and Agreements

	
40

	
SECTION
  3.08. Investment Company Status

	
40

Table of Contents
(continued)

	
 

	
 

	
 

	
Page

	
 

	

	
 

	
 

	
SECTION
  3.09. Taxes

	
40

	
SECTION
  3.10. ERISA

	
40

	
SECTION
  3.11. Disclosure

	
40

	
SECTION
  3.12. Federal Reserve Regulations

	
41

	
SECTION
  3.13. Liens

	
41

	
SECTION
  3.14. No Default

	
41

	
 

	
 

	
ARTICLE IV
  Conditions

	
41

	
 

	
 

	
SECTION
  4.01. Effective Date

	
41

	
SECTION
  4.02. Each Credit Event

	
42

	
SECTION
  4.03. Designation of a Foreign Subsidiary Borrower

	
42

	
 

	
 

	
ARTICLE V
  Affirmative Covenants

	
43

	
 

	
 

	
SECTION
  5.01. Financial Statements and Other Information

	
43

	
SECTION
  5.02. Notices of Material Events

	
44

	
SECTION
  5.03. Existence; Conduct of Business

	
44

	
SECTION
  5.04. Payment of Obligations

	
45

	
SECTION
  5.05. Maintenance of Properties; Insurance

	
45

	
SECTION
  5.06. Books and Records; Inspection Rights

	
45

	
SECTION
  5.07. Compliance with Laws

	
45

	
SECTION
  5.08. Use of Proceeds

	
45

	
SECTION
  5.09. Subsidiary Guaranty

	
45

	
SECTION
  5.10. Pledge Agreements

	
46

	
 

	
 

	
ARTICLE VI
  Negative Covenants

	
46

	
 

	
 

	
SECTION
  6.01. Indebtedness

	
46

	
SECTION
  6.02. Liens

	
47

	
SECTION
  6.03. Fundamental Changes and Asset Sales

	
48

	
SECTION
  6.04. Investments, Loans, Advances, Guarantees and Acquisitions

	
49

	
SECTION
  6.05. Swap Agreements

	
49

	
SECTION
  6.06. Restricted Payments

	
49

	
SECTION
  6.07. Transactions with Affiliates

	
49

	
SECTION
  6.08. Restrictive Agreements

	
50

	
SECTION 6.09.
  Sale and Leasebacks

	
50

	
SECTION
  6.10. Financial Covenants.

	
50

ii

Table of Contents
(continued)

	
 

	
 

	
 

	
Page

	
 

	

	
 

	
 

	
ARTICLE VII
  Events of Default

	
51

	
 

	
 

	
ARTICLE VIII
  The Administrative Agent

	
53

	
 

	
 

	
ARTICLE IX
  Miscellaneous

	
57

	
 

	
 

	
SECTION
  9.01. Notices

	
57

	
SECTION
  9.02. Waivers; Amendments

	
57

	
SECTION
  9.03. Expenses; Indemnity; Damage Waiver

	
58

	
SECTION
  9.04. Successors and Assigns

	
59

	
SECTION
  9.05. Survival

	
62

	
SECTION
  9.06. Counterparts; Integration; Effectiveness

	
62

	
SECTION
  9.07. Severability

	
62

	
SECTION
  9.08. Right of Setoff

	
62

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

	
63

	
SECTION
  9.10. WAIVER OF JURY TRIAL

	
64

	
SECTION
  9.11. Headings

	
64

	
SECTION
  9.12. Confidentiality

	
64

	
SECTION
  9.13. USA PATRIOT Act

	
65

ARTICLE X

Cross-Guarantee

iii

Table of Contents
(continued)

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Page

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
SCHEDULES:

	
 

	
 

	
 

	
Schedule
  2.01

	
—
  Commitments

	
Schedule
  2.02

	
— Mandatory
  Cost

	
Schedule
  3.01

	
—
  Subsidiaries

	
Schedule
  6.01

	
— Existing
  Indebtedness

	
Schedule
  6.02

	
— Existing
  Liens

	
Schedule
  6.08

	
— Existing
  Restrictions

	
 

	
 

	
EXHIBITS:

	
 

	
 

	
 

	
Exhibit A

	
—

	
Form of
  Assignment and Assumption

	
Exhibit B-1

	
—

	
Form of
  Opinion of Loan Parties’ In-House Counsel

	
Exhibit B-2

	
—

	
Form of
  Opinion of Loan Parties’ Outside Counsel

	
Exhibit C

	
—

	
Form of
  Increasing Lender Supplement

	
Exhibit D

	
—

	
Form of Augmenting
  Lender Supplement

	
Exhibit E

	
—

	
List of
  Closing Documents

	
Exhibit F-1

	
—

	
Form of
  Borrowing Subsidiary Agreement

	
Exhibit F-2

	
—

	
Form of
  Borrowing Subsidiary Termination

	
Exhibit G

	
—

	
Form of
  Subsidiary Guaranty

	
Exhibit H

	
—

	
Form of
  Pledge Agreement

iv

                    CREDIT
AGREEMENT dated as of June 19, 2007 among TENNANT COMPANY, the FOREIGN
SUBSIDIARY BORROWERS from time to time party hereto, the LENDERS from time to
time party hereto, BANK OF AMERICA, N.A. as Syndication Agent and BMO CAPITAL
MARKETS FINANCING, INC. and U.S. BANK NATIONAL ASSOCIATION as Co-Documentation
Agents and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent.

                    The
parties hereto agree as follows:

ARTICLE
I

Definitions

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

                    “ABR”,
when used in reference to any Loan or Borrowing,
refers to a Loan, or the Loans comprising such Borrowing, bearing interest at a
rate determined by reference to the Alternate Base Rate.

                    “Adjusted
LIBO Rate” means, with respect to any
Eurocurrency Borrowing for any Interest Period, an interest rate per annum
(rounded upwards, if necessary, to the next 1/100 of 1%) equal to the sum of
(i) (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory
Reserve Rate plus, without duplication, (ii) in the case of Loans by a
Lender to a Foreign Subsidiary Borrower from its office or branch in the United
Kingdom, the Mandatory Cost.

                    “Administrative
Agent” means JPMorgan Chase Bank,
National Association, in its capacity as administrative agent for the Lenders
hereunder.

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

                    “Affected
Foreign Subsidiary” means any Foreign Subsidiary to the extent such Foreign
Subsidiary acting as a Subsidiary Guarantor would cause a Deemed Dividend
Problem.

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

                    “Aggregate
Commitment” means the aggregate of the Commitments of all of the Lenders,
as reduced or increased from time to time pursuant to the terms and conditions
hereof. As of the Effective Date, the Aggregate Commitment is $125,000,000.

                    “Agreed
Currencies” means (i) Dollars, (ii) euros, (iii) Pounds Sterling and (iv)
any other Foreign Currency agreed to by the Administrative Agent and each of
the Lenders.

                    “Alternate
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 Effective Rate in effect on such day plus 1⁄2 of 1%. Any change
in the Alternate Base Rate due to a change in the Prime Rate or the Federal
Funds Effective Rate shall be effective from and including the effective date
of such change in the Prime Rate or the Federal Funds Effective Rate,
respectively.

                    “Applicable
Pledge Percentage” means 100% but 65% in the case of a pledge by the
Company or any Domestic Subsidiary of its Equity Interests in an Affected
Foreign Subsidiary.

                    “Applicable
Percentage” means, with respect to any
Lender, the percentage of the Aggregate Commitment represented by such Lender’s
Commitment. If the Commitments have terminated or expired, the Applicable
Percentages shall be determined based upon the Commitments most recently in
effect, giving effect to any assignments.

                    “Applicable
Rate” means, for any day, with respect to
any Eurocurrency Revolving Loan, or with respect to the facility fees payable
hereunder, as the case may be, the applicable rate per annum set forth below
under the caption “Eurocurrency Spread” or “Facility Fee Rate”, as the case may
be, based upon the Leverage Ratio applicable on such date:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Leverage Ratio:

	
 

	
Eurocurrency

  Spread

	
 

	
Facility Fee Rate

	
 

	
 

	
 

	

	
 

	

	
 

	

	
 

	
Category
  1:

	
 

	
<
  1.25 to 1.00

	
 

	
0.32

	
%

	
 

	
0.08

	
%

	
 

	
Category
  2:

	
 

	
> 1.25 to 1.00

  but

  < 1.75 to 1.00

	
 

	
0.40

	
%

	
 

	
0.10

	
%

	
 

	
Category
  3:

	
 

	
> 1.75 to 1.00 but

  < 2.25 to 1.00

	
 

	
0.50

	
%

	
 

	
0.125

	
%

	
 

	
Category
  4

	
 

	
> 2.25 to 1.00

  but

  < 2.75 to 1.00

	
 

	
0.60

	
%

	
 

	
0.15

	
%

	
 

	
Category
  5

	
 

	
> 2.75 to 1.00

  but

  < 3.25 to 1000

	
 

	
0.825

	
%

	
 

	
0.175

	
%

	
 

	
Category
  6

	
 

	
> 3.25 to 1.00

	
 

	
1.025

	
%

	
 

	
0.225

	
%

	
 

          For
purposes of the foregoing, 

	
 

	
 

	
 

	
          (i)
  if at any time the Company fails to deliver the Financials on or before the
  date the Financials are due, Category 6 shall be deemed applicable for the
  period commencing five (5) Business Days after the required date of delivery
  and ending on the date which is five (5) Business Days after the Financials
  are actually delivered, after which the Category shall be determined in
  accordance with the table above as applicable;

	
 

	
 

	
 

	
          (ii)
  adjustments, if any, to the Category then in effect shall be effective five
  (5) Business Days after the Administrative Agent has received the applicable
  Financials (it being understood and agreed that each change in Category shall
  apply during the period commencing on the effective date of such change and
  ending on the date immediately preceding the effective date of the next such
  change); and

	
 

	
 

	
 

	
          (iii)
  notwithstanding the foregoing, Category 1 shall be deemed to be applicable
  until the Administrative Agent’s receipt of the applicable Financials for the
  Company’s fiscal quarter ending on or about June 30, 2007 and adjustments to
  the Category then in effect shall thereafter be effected in accordance with
  the preceding paragraphs.

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

2

                    “Approximate
Equivalent Amount” of any currency with respect to any amount of Dollars
shall mean the Equivalent Amount of such currency with respect to such amount
of Dollars on or as of such date, rounded up to the nearest amount of such
currency as determined by the Administrative Agent from time to time.

                    “Assignment
and Assumption” means an assignment and
assumption agreement entered into by a Lender and an assignee (with the consent
of any party whose consent is required by Section 9.04), and accepted by the
Administrative Agent, in the form of Exhibit A or any other form approved by
the Administrative Agent.

                    “Attributable
Receivables Indebtedness” at any time shall mean the principal amount of
Indebtedness which (i) if a Permitted Receivables Facility is structured as a
secured lending agreement, constitutes the principal amount of such
Indebtedness or (ii) if a Permitted Receivables Facility is structured as a
purchase agreement, would be outstanding at such time under the Permitted
Receivables Facility if the same were structured as a secured lending agreement
rather than a purchase agreement.

                    “Augmenting
Lender” has the meaning assigned to such term in Section 2.20.

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

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

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

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

                    “Borrower”
means the Company or any Foreign Subsidiary Borrower.

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

                    “Borrowing
Request”
means a request by any Borrower for a Revolving Borrowing in accordance with
Section 2.03.

                    “Borrowing
Subsidiary Agreement” means a Borrowing Subsidiary Agreement substantially
in the form of Exhibit F-1.

                    “Borrowing
Subsidiary Termination” means a Borrowing Subsidiary Termination
substantially in the form of Exhibit F-2.

                    “Business
Day”
means any day that is not a Saturday, Sunday or other day on which commercial
banks in New York City are authorized or required by law to remain closed; provided
that, when used in connection with a Eurocurrency Loan, the term “Business Day”
shall also exclude any day 

3

on which banks
are not open for dealings in Agreed Currencies in the London interbank market
or the principal financial center of the country in which payment or purchase
of such Agreed Currency can be made (and, if the Borrowings which are the
subject of a borrowing, drawing, payment, reimbursement or rate selection are
denominated in euro, the term “Business Day” shall also exclude any day on
which the TARGET payment system is not open for the settlement of payments in
euro).

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

                    “Change
in Control”
means (a) the acquisition of ownership, directly or indirectly, beneficially or
of record, by any Person or group (within the meaning of the Securities
Exchange Act of 1934 and the rules of the Securities and Exchange Commission
thereunder as in effect on the date hereof), of Equity Interests representing
more than 35% of the aggregate ordinary voting power represented by the issued
and outstanding Equity Interests of the Company; (b) occupation of a majority
of the seats (other than vacant seats) on the board of directors of the Company
by Persons who were neither (i) nominated by the board of directors of the
Company nor (ii) appointed by directors so nominated; or (c) the occurrence of
a change in control, or other similar provision, as defined in any agreement or
instrument evidencing any Material Indebtedness (triggering a default or
mandatory prepayment, which default or mandatory prepayment has not been waived
in writing).

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

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

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

                    “Co-Documentation
Agent” means each of BMO Capital Markets Financing, Inc. and
U.S. Bank National Association in its capacity as co-documentation agent for
the credit facility evidenced by this Agreement.

                    “Commitment”
means, with respect to each Lender, the commitment of such Lender to make
Revolving Loans and to acquire participations in Letters of Credit and
Swingline Loans hereunder, expressed as an amount representing the maximum
aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such
commitment may be (a) reduced or terminated from time to time pursuant to Section
2.09, (b) increased from time to time pursuant to Section 2.20 and (c) reduced
or increased from time to time pursuant to assignments by or to such Lender
pursuant to Section 9.04. The initial amount of each Lender’s Commitment is set
forth on Schedule 2.01, or in the Assignment and Assumption pursuant to which
such Lender shall have assumed its Commitment, as applicable. 

                    “Company”
means Tennant Company, a Minnesota corporation.

4

                    “Computation
Date” is defined in Section 2.04.

                    “Consolidated
EBITDA”
means Consolidated Net Income plus, to the extent deducted from revenues in
determining Consolidated Net Income, (i) Consolidated Interest Expense, (ii)
expense for taxes paid or accrued, (iii) depreciation, (iv) amortization, (v)
extraordinary non-cash losses incurred other than in the ordinary course of
business minus, to the extent included in Consolidated Net Income, (vi)
interest income and (vii) extraordinary non-cash gains realized other than in
the ordinary course of business, all calculated for the Company and its
Subsidiaries in accordance with GAAP on a consolidated basis. For the purposes
of calculating Consolidated EBITDA for any period of four consecutive fiscal
quarters (each, a “Reference Period”), (i) if at any time during such
Reference Period the Company or any Subsidiary shall have made any Material
Disposition, the Consolidated EBITDA for such Reference Period shall be reduced
by an amount equal to the Consolidated EBITDA (if positive) attributable to the
property that is the subject of such Material Disposition for such Reference
Period or increased by an amount equal to the Consolidated EBITDA (if negative)
attributable thereto for such Reference Period, and (ii) if during such Reference
Period the Company or any Subsidiary shall have made a Material Acquisition,
Consolidated EBITDA for such Reference Period shall be calculated after giving
pro forma effect thereto as if such Material Acquisition occurred on the first
day of such Reference Period. As used in this definition, “Material
Acquisition” means any acquisition of property or series of related
acquisitions of property that (a) constitutes (i) assets comprising all or
substantially all or any significant portion of a business or operating unit of
a business, or (ii) all or substantially all of the common stock or other
Equity Interests of a Person, and (b) involves the payment of consideration by
the Company and its Subsidiaries in excess of $25,000,000; and “Material
Disposition” means any sale, transfer or disposition of property or series
of related sales, transfers, or dispositions of property that yields gross
proceeds to the Company or any of its Subsidiaries in excess of $25,000,000.  

                    “Consolidated
Interest
Expense” means, with reference to any period, the interest
expense (including without limitation interest expense under Capital Lease
Obligations that is treated as interest in accordance with GAAP) of the Company
and its Subsidiaries calculated on a consolidated basis for such period with
respect to (a) all outstanding Indebtedness of the Company and its Subsidiaries
allocable to such period in accordance with GAAP (including, without
limitation, all commissions, discounts and other fees and charges owed with
respect to letters of credit and bankers acceptance financing and net costs
under interest rate Swap Agreements to the extent such net costs are allocable
to such period in accordance with GAAP) and (b) the interest component of all
Attributable Receivable Indebtedness of the Company and its Subsidiaries for
such period.

                    “Consolidated
Net
Income” means, with reference to any period, the net income
(or loss) of the Company and its Subsidiaries calculated in accordance with
GAAP on a consolidated basis (without duplication) for such period.

                    “Consolidated
Total
Assets” means, as of the date of any determination thereof,
total assets of the Company and its Subsidiaries calculated in accordance with
GAAP on a consolidated basis as of such date.

                    “Consolidated
Total Indebtedness” means at any time the sum, without duplication, of (a)
the aggregate Indebtedness of the Company and its Subsidiaries calculated on a
consolidated basis as of such time in accordance with GAAP, (b) the aggregate
amount of Indebtedness of the Company and its Subsidiaries relating to the
maximum drawing amount of all letters of credit outstanding and bankers
acceptances and (c) Indebtedness of the type referred to in clauses (a) or (b)
hereof of another Person guaranteed by the Company or any of its Subsidiaries.
For the avoidance of doubt, Consolidated Total Indebtedness includes all
Attributable Receivables Indebtedness.

5

                    “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
Event” means a Borrowing, the issuance of a Letter of Credit, an LC
Disbursement or any of the foregoing.

                    “Deemed
Dividend
Problem” means, with respect to any Foreign Subsidiary, such
Foreign Subsidiary’s accumulated and undistributed earnings and profits being
deemed to be repatriated to the Company or the applicable parent Domestic
Subsidiary under Section 956 of the Code and the effect of such repatriation
causing adverse tax consequences to the Company or such parent Domestic
Subsidiary, in each case as determined by the Company in its commercially
reasonable judgment acting in good faith and in consultation with its legal and
tax advisors.

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

                    “Dollar
Amount” of any currency at any date shall mean (i) the amount of such
currency if such currency is Dollars or (ii) the equivalent in such currency of
Dollars if such currency is a Foreign Currency, calculated on the basis of the
Exchange Rate for such currency, on or as of the most recent Computation Date
provided for in Section 2.04.

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

                    “Domestic
Subsidiary”
means a Subsidiary organized under the laws of a jurisdiction located in the
United States of America.

                    “Effective
Date”
means the date on which the conditions specified in Section 4.01 are satisfied
(or waived in accordance with Section 9.02).

                    “Eligible
Foreign Subsidiary” means any Foreign Subsidiary that is approved from time
to time by the Administrative Agent (in consultation with the Lenders).

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

                    “Environmental
Liability” means any liability, contingent or otherwise
(including any liability for damages, costs of environmental remediation,
fines, penalties or indemnities), of the Company or any Subsidiary 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 shares of capital stock, partnership interests, membership interests in a
limited liability company, beneficial interests in a trust or other equity
ownership interests in a Person, and any warrants, options or other rights
entitling the holder thereof to purchase or acquire any such equity interest.

6

                    “Equivalent
Amount” of any currency with respect to any amount of Dollars at any date
shall mean the equivalent in such currency of such amount of Dollars,
calculated on the basis of the arithmetical mean of the buy and sell spot rates
of exchange of the Administrative Agent for such other currency at 11:00 a.m.,
London time, on the date on or as of which such amount is to be determined.

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

                    “ERISA
Affiliate”
means any trade or business (whether or not incorporated) that, together with
the Company, is treated as a single employer under Section 414(b) or (c) of the
Code or, solely for purposes of Section 302 of ERISA and Section 412 of the
Code, is treated as a single employer under Section 414 of the Code.

                    “ERISA
Event”
means (a) any “reportable event”, as defined in Section 4043 of ERISA or the
regulations issued thereunder with respect to a Plan (other than an event for
which the 30-day notice period is waived); (b) the existence with respect to
any Plan of an “accumulated funding deficiency” (as defined in Section 412 of
the Code or Section 302 of ERISA), whether or not waived; (c) the filing
pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an
application for a waiver of the minimum funding standard with respect to any
Plan; (d) the incurrence by the Company or any of its ERISA Affiliates of any
liability under Title IV of ERISA with respect to the termination of any Plan;
(e) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan
administrator of any notice relating to an intention to terminate any Plan or
Plans or to appoint a trustee to administer any Plan; (f) the incurrence by the
Company or any of its ERISA Affiliates of any liability with respect to the
withdrawal or partial withdrawal of the Company or any of its ERISA Affiliates
from any Plan or Multiemployer Plan; or (g) the receipt by the Company or any
ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from
the Company or any ERISA Affiliate of any notice, concerning the imposition
upon the Company or any of its ERISA Affiliates of Withdrawal Liability or a determination
that a Multiemployer Plan is, or is expected to be, insolvent or in
reorganization, within the meaning of Title IV of ERISA.

                    “EU”
means the European Union.

                    “euro”
and/or “EUR” means the single currency of the participating member
states of the EU.

                    “Eurocurrency”,
when used in reference to a currency means an Agreed Currency and when used in
reference to any Loan or Borrowing, mean that such Loan, or the Loans
comprising such Borrowing, bears interest at a rate determined by reference to
the Adjusted LIBO Rate.

                    “Eurocurrency
Payment Office” of the Administrative Agent shall mean, for each Foreign
Currency, the office, branch, affiliate or correspondent bank of the Administrative
Agent for such currency as specified from time to time by the Administrative
Agent to the Company and each Lender.

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

                    “Exchange
Rate” means, on any day, with respect to any Foreign Currency, the rate at
which such Foreign Currency may be exchanged into Dollars, as set forth at
approximately 11:00 a.m., Local Time, on such date on the Reuters World
Currency Page for such Foreign Currency. In the event that such rate does not
appear on any Reuters World Currency Page, the Exchange Rate with respect to
such Foreign Currency shall be determined by reference to such other publicly
available service for displaying exchange rates as may be reasonably selected
by the Administrative Agent or, in the event no such service is selected, such
Exchange Rate shall instead be calculated on the basis of the arithmetical mean
of the buy and sell spot rates of exchange of the Administrative Agent for such
Foreign Currency on 

7

the London
market at 11:00 a.m., Local Time, on such date for the purchase of Dollars with
such Foreign Currency, for delivery two Business Days later; provided,
that if at the time of any such determination, for any reason, no such spot
rate is being quoted, the Administrative Agent, after consultation with the
Company, may use any reasonable method it deems appropriate to determine such
rate, and such determination shall be conclusive absent manifest error.

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

                    “Existing
Credit Agreements” means each of (i) the Demand Loan Agreement, dated as of
June 30, 2001, by and between the Company and Bank of America, N.A. and (ii)
the Credit Agreement, dated as of January 10, 2002, by and between the Company
and U.S. Bank National Association, in each case, as amended, supplemented or
otherwise modified from time to time prior to the Effective Date.

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

                    “Financial
Officer”
means the chief financial officer, principal accounting officer, treasurer or
controller of the Company.

                    “Financials”
means the annual or quarterly financial statements, and accompanying
certificates and other documents, of the Company and its Subsidiaries required
to be delivered pursuant to Section 5.01(a) or 5.01(b). 

                    “First
Tier Foreign Subsidiary” means each Material Subsidiary
which is a Foreign Subsidiary and with respect to which any one or more of the
Company and its Domestic Subsidiaries directly owns or controls more than 50%
of such Foreign Subsidiary’s Equity Interests.

                    “Foreign
Currencies” means Agreed Currencies other than Dollars.

                    “Foreign
Currency Sublimit” means $75,000,000.

                    “Foreign
Lender”
means any Lender that is organized under the laws of a jurisdiction other than
that in which the Company is located. For purposes of this definition, the
United States of 

8

America, each
State thereof and the District of Columbia shall be deemed to constitute a
single jurisdiction.

                    “Foreign
Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.

                    “Foreign
Subsidiary Borrower” means any Eligible Foreign Subsidiary that has been
designated as a Foreign Subsidiary Borrower pursuant to Section 2.23 and that
has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.

                    “Foreign
Subsidiary Borrower Sublimit” means $50,000,000.

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

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

                    “Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or
otherwise, of the guarantor guaranteeing or having the economic effect of
guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, and including any obligation of
the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply
funds for the purchase or payment of) such Indebtedness or other obligation or
to purchase (or to advance or supply funds for the purchase of) any security
for the payment thereof, (b) to purchase or lease property, securities or
services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity
capital or any other financial statement condition or liquidity of the primary
obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation or (d) as an account party in respect of any letter of credit or
letter of guaranty issued to support such Indebtedness or obligation; provided,
that the term Guarantee shall not include endorsements for collection or
deposit in the ordinary course of business.

                    “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.

                    “Hostile
Acquisition”
means (a) the acquisition of the Equity Interests of a Person through a tender
offer or similar solicitation of the owners of such Equity Interests which has
not been approved (prior to such acquisition) by the board of directors (or any
other applicable governing body) of such Person or by similar action if such
Person is not a corporation and (b) any such acquisition as to which such
approval has been withdrawn.

                    “Increasing
Lender” has the meaning assigned to such term in Section 2.20.

                    “Indebtedness”
of any Person means, without duplication, (a) all obligations of such Person
for borrowed money or with respect to deposits or advances of any kind, (b) all
obligations of such Person evidenced by bonds, debentures, notes or similar
instruments, (c) all obligations of such Person upon which interest charges are
customarily paid, (d) all obligations of such Person under conditional sale or
other title retention agreements relating to property acquired by such Person,
(e) all obligations of such Person in respect of the deferred purchase price of
property or services (excluding current accounts 

9

payable
incurred in the ordinary course of business), (f) all Indebtedness of others
secured by (or for which the holder of such Indebtedness has an existing right,
contingent or otherwise, to be secured by) any Lien on property owned or
acquired by such Person, whether or not the Indebtedness secured thereby has
been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h)
all Capital Lease Obligations of such Person, (i) all obligations, contingent
or otherwise, of such Person as an account party in respect of letters of
credit and letters of guaranty, (j) all obligations, contingent or otherwise,
of such Person in respect of bankers’ acceptances, (k) all obligations of such
Person under any Swap Agreement or under any similar type of agreement and (l)
all Attributable Receivables Indebtedness of such Person. The Indebtedness of
any Person shall include the Indebtedness of any other entity (including any
partnership in which such Person is a general partner) to the extent such
Person is liable therefor as a result of such Person’s ownership interest in or
other relationship with such entity, except to the extent the terms of such
Indebtedness provide that such Person is not liable therefor.

                    “Indemnified
Taxes”
means Taxes other than Excluded Taxes.

                    “Information
Memorandum” means the Confidential Information Memorandum
dated May 2007 relating to the Company and the Transactions.

                    “Interest
Election
Request” means a request by the applicable Borrower to
convert or continue a Revolving Borrowing in accordance with Section 2.08.

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

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

                    “Issuing
Bank”
means JPMorgan Chase Bank, National Association, in its capacity as the issuer
of Letters of Credit hereunder, and its successors in such capacity as provided
in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or
more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which
case the term “Issuing Bank” shall include any such Affiliate with respect to
Letters of Credit issued by such Affiliate.

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

10

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

                    “Lenders”
means the Persons listed on Schedule 2.01 and any other Person that shall have
become a Lender hereunder pursuant to Section 2.20 or pursuant to an Assignment
and Assumption, other than any such Person that ceases to be a party hereto
pursuant to an Assignment and Assumption.
Unless the context otherwise requires, the term “Lenders” includes the
Swingline Lender.

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

                    “Leverage
Ratio” has the meaning assigned to such term in Section 6.10.

                    “LIBO
Rate”
means, with respect to any Eurocurrency Borrowing for any Interest Period, the
rate appearing on, in the case of Dollars, Reuters BBA Libor Rates Page 3750
and, in the case of any Foreign Currency, the appropriate page of such service
which displays British Bankers Association Interest Settlement Rates for
deposits in such Foreign Currency (or, in each case, on any successor or
substitute page of such Service, or any successor to or substitute for such
Service, providing rate quotations comparable to those currently provided on
such page of such Service, as determined by the Administrative Agent from time
to time for purposes of providing quotations of interest rates applicable to
deposits in the relevant Agreed Currency in the London interbank market) at
approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, as the rate for deposits in the relevant
Agreed Currency with a maturity comparable to such Interest Period.  In the event that such rate is not available
at such time for any reason, then the “LIBO Rate” with respect to
such Eurocurrency Borrowing for such Interest Period shall be the rate at which
deposits in the relevant Agreed Currency in an Equivalent Amount of $5,000,000
and for a maturity comparable to such Interest Period are offered by the
principal London office of the Administrative Agent in immediately available
funds in the London interbank market at approximately 11:00 a.m., London time,
two (2) Business Days prior to the commencement of such Interest Period.

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

                    “Loans”
means the loans made by the Lenders to the Borrowers pursuant to this
Agreement.

                    “Loan
Documents”
means this Agreement, each Borrowing Subsidiary Agreement, each Borrowing
Subsidiary Termination, the Subsidiary Guaranty, the Pledge Agreements, any
promissory notes executed and delivered pursuant to Section 2.10(e) and any and
all other instruments and documents executed and delivered in connection with
any of the foregoing.

                   
“Loan Parties” means, collectively, the Borrowers and
the Subsidiary Guarantors.

                    “Local
Time” means (i) New York City time in the case of a Loan, Borrowing or LC
Disbursement denominated in Dollars to, or for the account of, the Company and
(ii) local time at the 

11

place of the
relevant Loan or Borrowing (or such earlier local time as is necessary for the
relevant funds to be received and transferred to the Administrative Agent for
same day value on the date the relevant reimbursement obligation is due) in the
case of a Loan or Borrowing which is denominated in a Foreign Currency or which
is to, or for the account of, a Foreign Subsidiary Borrower.

                    “Mandatory
Cost” is described in Schedule 2.02.

                    “Material
Adverse
Effect” means a material adverse effect on (a) the business,
assets, property or condition (financial or otherwise) of the Company and the
Subsidiaries taken as a whole or (b) the ability of any Borrower or any other
Loan Party to perform any of its obligations under this Agreement or any other
Loan Document or the rights of or remedies available to the Lenders under this
Agreement or any other Loan Document.

                    “Material
Indebtedness” means any Indebtedness (other than the Loans
and Letters of Credit), or obligations in respect of one or more Swap
Agreements, of any one or more of the Company and its Material Subsidiaries in
an aggregate principal amount exceeding $15,000,000.  For purposes of determining Material Indebtedness, the “principal
amount” of the obligations of the Company or any Subsidiary in respect of any
Swap Agreement at any time shall be the maximum aggregate amount (giving effect
to any netting agreements) that the Company or such Subsidiary would be
required to pay if such Swap Agreement were terminated at such time.

                    
“Material Subsidiary” means each Subsidiary (i) which,
as of the most recent fiscal quarter of the Company, for the period of four
consecutive fiscal quarters then ended, for which financial statements have
been delivered pursuant to Section 5.01, contributed greater than ten percent
(10%) of the Company’s Consolidated EBITDA for such period or (ii) which contributed
greater than ten percent (10%) of the Company’s Consolidated Total Assets as of
such date; provided that, if at any time the aggregate amount of the
Company’s Consolidated EBITDA or Company’s Consolidated Total Assets
attributable to Subsidiaries (other than Affected Foreign Subsidiaries) that
are not Subsidiary Guarantors exceeds ten percent (10%) of the Company’s
Consolidated EBITDA for any such period or ten percent (10%) of the Company’s
Consolidated Total Assets as of the end of any such fiscal quarter, the Company
(or, in the event the Company has failed to do so within ten days, the
Administrative Agent) shall designate sufficient Subsidiaries (other than
Affected Foreign Subsidiaries) as “Material Subsidiaries” to eliminate such
excess, and such designated Subsidiaries shall for all purposes of this
Agreement constitute Material Subsidiaries.

                    “Maturity
Date”
means June 19, 2012.

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

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

                    “Obligations”
means all indebtedness (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding), obligations and liabilities
of any of the Company and its Subsidiaries to any of the Lenders and the
Administrative Agent, individually or collectively, existing on the Effective
Date or arising thereafter, direct or indirect, joint or several, absolute or
contingent, matured or unmatured, liquidated or unliquidated, secured or
unsecured, arising by contract, operation of law or otherwise, arising or
incurred under this Credit Agreement or any of the other Loan Documents or to
the Lenders or any of their Affiliates under any Swap Agreement or any Banking
Services Agreement or in 

12

respect of any
of the Loans made or reimbursement or other obligations incurred or any of the
Letters of Credit or other instruments at any time evidencing any thereof.

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

                    “Overnight
Foreign Currency Rate” means, for any amount payable in a Foreign Currency,
the rate of interest per annum as determined by the Administrative Agent at
which overnight or weekend deposits in the relevant currency (or if such amount
due remains unpaid for more than three Business Days, then for such other
period of time as the Administrative Agent may elect) for delivery in
immediately available and freely transferable funds would be offered by the
Administrative Agent to major banks in the interbank market upon request of
such major banks for the relevant currency as determined above and in an amount
comparable to the unpaid principal amount of the related Credit Event, plus any
taxes, levies, imposts, duties, deductions, charges or withholdings imposed
upon, or charged to, the Administrative Agent by any relevant correspondent
bank in respect of such amount in such relevant currency.

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

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

                    “Permitted
Acquisition” means any acquisition (whether by purchase,
merger, consolidation or otherwise but excluding in any event a Hostile
Acquisition) or series of related acquisitions by the Company or any Subsidiary
of all or substantially all the assets of, or all the Equity Interests in, a
Person or division or line of business of a Person if, at the time of and
immediately after giving effect thereto, (a) no Default has occurred and is
continuing or would arise after giving effect thereto, (b) such Person or
division or line of business is engaged in the same or a similar line of
business as the Company and the Subsidiaries or business reasonably related
thereto (including, without limitation, any environmental cleaning solutions
business), (c) all actions required to be taken with respect to such acquired
or newly formed Subsidiary under Sections 5.09 and 5.10 shall have been taken,
(d) the Company and the Subsidiaries are in compliance, on a pro forma basis
reasonably acceptable to the Administrative Agent after giving effect to such
acquisition (but without giving effect to any synergies or cost savings), with
the covenants contained in Section 6.10 recomputed as of the last day of the
most recently ended fiscal quarter of the Company for which financial
statements are available, as if such acquisition (and any related incurrence or
repayment of Indebtedness, with any new Indebtedness being deemed to be
amortized over the applicable testing period in accordance with its terms) had
occurred on the first day of each relevant period for testing such compliance
and, if the aggregate consideration paid in respect of such acquisition exceeds
$25,000,000, the Company shall have delivered to the Administrative Agent a certificate
of a Financial Officer of the Company to such effect, together with all
relevant financial information, statements and projections requested by the
Administrative Agent and (e) in the case of a merger or consolidation involving
the Company or a Subsidiary, the Company or such Subsidiary is the surviving
entity of such merger and/or consolidation.

                    “Permitted
Encumbrances” means:

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

13

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

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

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

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

                    (f)
easements, zoning restrictions, rights-of-way and similar encumbrances on real
property imposed by law or arising in the ordinary course of business that do
not secure any monetary obligations and do not materially detract from the
value of the affected property or interfere with the ordinary conduct of
business of the Company or any Subsidiary;

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

                    “Permitted
Investments” means:

	
 

	
 

	
 

	
          (a)
  direct obligations of, or obligations the principal of and interest on which
  are unconditionally guaranteed by, the United States of America (or by any
  agency thereof to the extent such obligations are backed by the full faith
  and credit of the United States of America), in each case maturing within one
  year from the date of acquisition thereof;

	
 

	
 

	
 

	
          (b)
  investments in commercial paper maturing within 270 days from the date of
  acquisition thereof and having, at such date of acquisition, the highest
  credit rating obtainable from S&P or from Moody’s;

	
 

	
 

	
 

	
          (c)
  investments in certificates of deposit, banker’s acceptances and time
  deposits maturing within 180 days from the date of acquisition thereof issued
  or guaranteed by or placed with, and money market deposit accounts issued or
  offered by, any domestic office of any commercial bank organized under the
  laws of the United States of America or any State thereof which has a
  combined capital and surplus and undivided profits of not less than
  $500,000,000;

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (f)
  other investments permitted by the Company’s investment policy as adopted by
  its Board of Directors as in effect on the Effective Date, as amended,
  restated, supplemented or otherwise modified from time to time, so long as
  such amendment, restatement, supplement or modification has been approved by
  the Administrative Agent (such approval not to be unreasonably withheld or
  delayed).

14

                    “Permitted
Receivables Facility” shall mean the receivables facility or facilities
created under the Permitted Receivables Facility Documents, providing for the
sale or pledge by the Company and/or one or more other Receivables Sellers of
Permitted Receivables Facility Assets (thereby providing financing to the
Company and the Receivables Sellers) to the Receivables Entity (either directly
or through another Receivables Seller), which in turn shall sell or pledge
interests in the respective Permitted Receivables Facility Assets to
third-party investors pursuant to the Permitted Receivables Facility Documents
(with the Receivables Entity permitted to issue investor certificates,
purchased interest certificates or other similar documentation evidencing
interests in the Permitted Receivables Facility Assets) in return for the cash
used by the Receivables Entity to purchase the Permitted Receivables Facility
Assets from the Company and/or the respective Receivables Sellers, in each case
as more fully set forth in the Permitted Receivables Facility Documents.

                    “Permitted
Receivables Facility Assets” shall mean (i) Receivables (whether now
existing or arising in the future) of the Company and its Subsidiaries which
are transferred or pledged to the Receivables Entity pursuant to the Permitted
Receivables Facility and any related Permitted Receivables Related Assets which
are also so transferred or pledged to the Receivables Entity and all proceeds
thereof and (ii) loans to the Company and its Subsidiaries secured by
Receivables (whether now existing or arising in the future) and any Permitted
Receivables Related Assets of the Company and its Subsidiaries which are made
pursuant to the Permitted Receivables Facility.

                    “Permitted
Receivables Facility Documents” shall mean each of the documents and
agreements entered into in connection with the Permitted Receivables Facility,
including all documents and agreements relating to the issuance, funding
and/or purchase of certificates and purchased interests, all of which documents
and agreements shall be in form and substance reasonably satisfactory to the
Administrative Agent, in each case as such documents and agreements may be
amended, modified, supplemented, refinanced or replaced from time to time so
long as (i) any such amendments, modifications, supplements, refinancings or
replacements do not impose any conditions or requirements on the Company or
any of its Subsidiaries that are more restrictive in any material respect than
those in existence immediately prior to any such amendment, modification,
supplement, refinancing or replacement, (ii) any such amendments, modifications,
supplements, refinancings or replacements are not adverse in any way to the
interests of the Lenders and (iii) any such amendments, modifications,
supplements, refinancings or replacements are otherwise in form and substance
reasonably satisfactory to the Administrative Agent.

                    “Permitted
Receivables Related Assets” means any other assets that are customarily
transferred or in respect of which security interests are customarily granted
in connection with asset securitization transactions involving receivables
similar to Receivables and any collections or proceeds of any of the foregoing.

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

                    “Plan”
means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or
Section 302 of ERISA, and in respect of which the Company or any ERISA
Affiliate is (or, if such plan were terminated, would under Section 4069 of
ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

                    “Pledge
Agreements” means that certain Pledge Agreement substantially in the form
of Exhibit H (including any and all supplements thereto) and executed by the
relevant Loan Parties, and, in the case of any pledge of Equity Interests of a
Foreign Subsidiary, any other pledge agreements, share mortgages, charges and
comparable instruments and documents from time to time executed pursuant to 

15

the terms of
Section 5.10 in favor of the Administrative Agent for the benefit of the Secured Parties as amended, restated,
supplemented or otherwise modified from time to time.

                    “Pledged
Equity” means all pledged Equity Interests in or upon which a security
interest or Lien is from time to time granted to the Administrative Agent, for
the benefit of the Secured Parties, under the Pledge Agreements. 

                    “Pounds
Sterling” means the lawful currency of the United Kingdom.

                    “Prime
Rate”
means the rate of interest per annum publicly announced from time to time by
JPMorgan Chase Bank, National Association 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.

                    “Receivables”
shall mean all accounts receivable (including, without limitation, all rights
to payment created by or arising from sales of goods, leases of goods or the
rendition of services rendered no matter how evidenced whether or not earned by
performance).

                    “Receivables
Entity” shall mean a wholly-owned Subsidiary of the Company which engages
in no activities other than in connection with the financing of accounts
receivable of the Receivables Sellers and which is designated (as provided
below) as the “Receivables Entity” (a) no portion of the Indebtedness or any
other obligations (contingent or otherwise) of which (i) is guaranteed by the
Company or any other Subsidiary of the Company (excluding guarantees of
obligations (other than the principal of, and interest on, Indebtedness))
pursuant to Standard Securitization Undertakings, (ii) is recourse to or
obligates the Company or any other Subsidiary of the Company in any way (other
than pursuant to Standard Securitization Undertakings) or (iii) subjects any property
or asset of the Company or any other Subsidiary of the Company, directly or
indirectly, contingently or otherwise, to the satisfaction thereof, other than
pursuant to Standard Securitization Undertakings, (b) with which neither the
Company nor any of its Subsidiaries has any contract, agreement, arrangement or
understanding (other than pursuant to the Permitted Receivables Facility
Documents (including with respect to fees payable in the ordinary course of
business in connection with the servicing of accounts receivable and related
assets)) on terms less favorable to the Company or such Subsidiary than those
that might be obtained at the time from persons that are not Affiliates of the
Company, and (c) to which neither the Company nor any other Subsidiary of the
Company has any obligation to maintain or preserve such entity’s financial
condition or cause such entity to achieve certain levels of operating results.
Any such designation shall be evidenced to the Administrative Agent by filing
with the Administrative Agent an officer’s certificate of the Company
certifying that, to the best of such officer’s knowledge and belief after
consultation with counsel, such designation complied with the foregoing
conditions.

                    “Receivables
Sellers” shall mean the Company and those Subsidiary Guarantors that are
from time to time party to the Permitted Receivables Facility Documents.

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

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

                    “Required
Lenders”
means, at any time, Lenders having Revolving Credit Exposures and unused
Commitments representing more than 50% of the sum of the total Revolving Credit
Exposures and unused Commitments at such time.

16

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

                    “Revolving
Credit
Exposure” means, with respect to any Lender at any time, the
sum of the outstanding principal amount of such Lender’s Revolving Loans and
its LC Exposure and Swingline Exposure at such time.

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

                    “S&P”
means Standard & Poor’s.

                    “Sale
and Leaseback Transaction” means any sale or other transfer of property by
any Person with the intent to lease such property as lessee.

                    “Secured
Parties”
means the holders of the Obligations from time to time and shall include (i)
each Lender and the Issuing Bank in respect of its Loans and LC Exposure
respectively, (ii) the Administrative Agent, the Issuing Bank and the Lenders
in respect of all other present and future obligations and liabilities of the
Company and each Subsidiary of every type and description arising under or in
connection with the Credit Agreement or any other Loan Document, (iii) each
Lender and affiliate of such Lender in respect of Swap Agreements and Banking
Services entered into with such Person by the Company or any Subsidiary, (iv)
each indemnified party under Section 9.03 in respect of the obligations and
liabilities of the Borrowers to such Person hereunder and under the other Loan
Documents, and (v) their respective successors and (in the case of a Lender,
permitted) transferees and assigns.

                    “Standard
Securitization Undertakings” shall mean representations, warranties,
covenants and indemnities entered into by the Company or any Subsidiary thereof
in connection with the Permitted Receivables Facility which are reasonably
customary in an accounts receivable financing transaction.

                    “Statutory
Reserve
Rate” means, with respect to any currency, a fraction
(expressed as a decimal), the numerator of which is the number one and the
denominator of which is the number one minus the aggregate of the maximum
reserve, liquid asset, fees or similar requirements (including any marginal,
special, emergency or supplemental reserves or other requirements) established
by any central bank, monetary authority, the Board, the Financial Services
Authority, the European Central Bank or other Governmental Authority for any
category of deposits or liabilities customarily used to fund loans in such
currency, expressed in the case of each such requirement as a decimal. Such
reserve percentages shall, in the case of Dollar denominated Loans, include
those imposed pursuant to Regulation D of the Board. Eurocurrency Loans
shall be deemed to be subject to such reserve, liquid asset or similar
requirements without benefit of or credit for proration, exemptions or offsets
that may be available from time to time to any Lender under any applicable law,
rule or regulation, including Regulation D. The Statutory Reserve Rate
shall be adjusted automatically on and as of the effective date of any change
in any reserve, liquid asset or similar requirement.

                    “subsidiary”
means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other
entity the accounts of which would be consolidated with those of the parent in
the parent’s consolidated financial statements if such financial statements
were prepared in accordance with GAAP as of such date, as well as any other
corporation, limited liability company, partnership, association or other
entity (a) of which securities or 

17

other
ownership interests representing more than 50% of the equity or more than 50% of
the ordinary voting power or, in the case of a partnership, more than 50% of
the general partnership interests are, as of such date, owned, controlled or
held, or (b) that is, as of such date, otherwise Controlled, by the parent or
one or more subsidiaries of the parent or by the parent and one or more
subsidiaries of the parent.

                    “Subsidiary”
means any subsidiary of the Company.

                    “Subsidiary
Guarantor”
means each Material Subsidiary (other than Affected Foreign Subsidiaries). The
Subsidiary Guarantors on the Effective Date are identified as such in Schedule
3.01 hereto.

                    “Subsidiary
Guaranty”
means that certain Guaranty dated as of the Effective Date substantially in the
form of Exhibit G (including any and all supplements thereto) and executed by
each Subsidiary Guarantor party thereto, and, in the case of any guaranty by a
Foreign Subsidiary, any other guaranty agreements as are requested by the
Administrative Agent and its counsel, in each case as amended, restated,
supplemented or otherwise modified from time to time. 

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

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

                    “Swingline
Exposure”
means, at any time, the aggregate principal amount of all Swingline Loans
outstanding at such time. The Swingline Exposure of any Lender at any time
shall be its Applicable Percentage of the total Swingline Exposure at such
time.

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

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

                    “Syndication
Agent” means Bank of America, N.A. in its capacity as syndication agent for
the credit facility evidenced by this Agreement.

                    “TARGET”
means the Trans-European Automated Real-time Gross Settlement Express Transfer
(TARGET) payment system (or, if such payment system ceases to be operative,
such other payment system (if any) reasonably determined by the
Administrative Agent to be a suitable replacement) for the settlement of
payments in euro.

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

18

                    “Transactions”
means the execution, delivery and performance by the Loan Parties of this
Agreement and the other Loan Documents, the borrowing of Loans, the use of the
proceeds thereof and the issuance of Letters of Credit hereunder.

                    “Type”,
when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined
by reference to the Adjusted LIBO Rate or the Alternate Base Rate.

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

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

                    SECTION
1.03. Terms Generally. The definitions of terms herein
shall apply equally to the singular and plural forms of the terms defined.
Whenever the context may require, any pronoun shall include the corresponding
masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”.
The word “will” shall be construed to have the same meaning and effect as the
word “shall”. Unless the context requires otherwise (a) any definition of or
reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as from
time to time amended, restated, supplemented or otherwise modified (subject to
any restrictions on such amendments, restatements, supplements or modifications
set forth herein), (b) any reference herein to any Person shall be construed to
include such Person’s successors and assigns, (c) the words “herein”, “hereof”
and “hereunder”, and words of similar import, shall be construed to refer to
this Agreement in its entirety and not to any particular provision hereof, (d)
all references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to,
this Agreement and (e) the words “asset” and “property” shall be construed to
have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and
contract rights.

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

19

ARTICLE II

The Credits

                    SECTION
2.01. Commitments. Subject to the terms and conditions set
forth herein, each Lender agrees to make Revolving Loans to the Borrowers in
Agreed Currencies from time to time during the Availability Period in an
aggregate principal amount that will not result in (a) the Dollar Amount of
such Lender’s Revolving Credit Exposure exceeding the Dollar Amount of such
Lender’s Commitment, (b) subject to Section 2.04, the sum of the total
Revolving Credit Exposures exceeding the Aggregate Commitment, (c) subject to
Section 2.04, the Dollar Amount of the total outstanding Revolving Loans
denominated in Foreign Currencies, exceeding the Foreign Currency Sublimit or
(d) subject to Section 2.04, the Dollar Amount of the total outstanding
Revolving Loans made to a Foreign Subsidiary Borrower exceeding the Foreign
Subsidiary Borrower Sublimit. Within the foregoing limits and subject to the
terms and conditions set forth herein, the Borrowers may borrow, prepay and
reborrow Revolving Loans.

                    SECTION
2.02. Loans and Borrowings. (a) Each Revolving Loan shall
be made as part of a Borrowing consisting of Revolving Loans made by the
Lenders ratably in accordance with their respective Commitments. The failure of
any Lender to make any Loan required to be made by it shall not relieve any
other Lender of its obligations hereunder; provided that the
Commitments of the Lenders are several and no Lender shall be responsible for
any other Lender’s failure to make Loans as required.

                    (b)
Subject to Section 2.14, each Revolving Borrowing shall be comprised entirely
of ABR Loans or Eurocurrency Loans as the relevant Borrower may request in
accordance herewith; provided that each ABR Loan shall only be made in Dollars.
Each Swingline Loan shall be an ABR Loan. Each Lender at its option may make
any Eurocurrency Loan by causing any domestic or foreign branch or Affiliate of
such Lender to make such Loan; provided that any exercise of such option
shall not affect the obligation of the relevant Borrower to repay such Loan in
accordance with the terms of this Agreement.

                    (c)
At the commencement of each Interest Period for any Eurocurrency Revolving
Borrowing, such Borrowing shall be in an aggregate amount that is an integral
multiple of $1,000,000 and not less than $5,000,000 (or the Approximate
Equivalent Amount of each such amount if such Borrowing is denominated in a
Foreign Currency). At the time that each ABR Revolving Borrowing is made, such
Borrowing shall be in an aggregate amount that is an integral multiple of
$1,000,000 and not less than $5,000,000; provided
that an ABR Revolving Borrowing may be in an aggregate amount that is equal to
the entire unused balance of the Aggregate Commitment or that is required to
finance the reimbursement of an LC Disbursement as contemplated by Section
2.06(e). Each Swingline Loan shall be in an amount that is an integral multiple
of $500,000 and not less than $1,000,000. Borrowings of more than one Type and
Class may be outstanding at the same time; provided that there shall
not at any time be more than a total of ten (10) Eurocurrency Revolving Borrowings
outstanding.

                    (d)
Notwithstanding any other provision of this Agreement, no Borrower shall be
entitled to request, or to elect to convert or continue, any Borrowing if the
Interest Period requested with respect thereto would end after the Maturity
Date.

                    SECTION
2.03. Requests for Revolving Borrowings. To request a
Revolving Borrowing, the applicable Borrower, or the Company on behalf of the
applicable Borrower, shall notify the Administrative Agent of such request by
telephone (a) in the case of a Eurocurrency Borrowing, not later than 11:00
a.m., Local Time, three (3) Business Days (in the case of a Eurocurrency
Borrowing denominated in Dollars to the Company) or four (4) Business Days (in
the case of a Eurocurrency 

20

Borrowing
denominated in a Foreign Currency or a Eurocurrency Borrowing to a Foreign
Subsidiary Borrower), in each case before the date of the proposed Borrowing or
(b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time,
one (1) Business Day before the date of the proposed Borrowing; provided
that any such notice of an ABR Revolving Borrowing to finance the reimbursement
of an LC Disbursement as contemplated by Section 2.06(e) may be given not later
than 10:00 a.m., New York City time, on the date of the proposed Borrowing.
Each such telephonic Borrowing Request shall be irrevocable and shall be
confirmed promptly by hand delivery or telecopy to the Administrative Agent of
a written Borrowing Request in a form approved by the Administrative Agent and
signed by the applicable Borrower, or the Company on behalf of the applicable
Borrower. Each such telephonic and written Borrowing Request shall specify the
following information in compliance with Section 2.02:

	
 

	
 

	
 

	
          (i)
  the aggregate amount of the requested Borrowing;

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (iii)
  whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing;

	
 

	
 

	
 

	
          (iv)
  in the case of a Eurocurrency Borrowing, the Agreed Currency and initial
  Interest Period to be applicable thereto, which shall be a period
  contemplated by the definition of the term “Interest Period”; and

	
 

	
 

	
 

	
          (v)
  the location and number of the applicable Borrower’s account to which funds
  are to be disbursed, which shall comply with the requirements of Section
  2.07.

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

                    SECTION
2.04. Determination of Dollar Amounts. The Administrative
Agent will determine the Dollar Amount of:

                    (a)
each Eurocurrency Borrowing as of the date three (3) Business Days prior to the
date of such Borrowing or, if applicable, date of conversion/continuation of
any Borrowing as a Eurocurrency Borrowing,

                    (b)
the LC Exposure as of the date of each request for the issuance, amendment,
renewal or extension of any Letter of Credit, and

                    (c)
all outstanding Credit Events on and as of the last Business Day of each
calendar quarter and, during the continuation of an Event of Default, on any
other Business Day elected by the Administrative Agent in its discretion or
upon instruction by the Required Lenders.

Each day upon
or as of which the Administrative Agent determines Dollar Amounts as described
in the preceding clauses (a), (b) and (c) is herein described as a “Computation
Date” with respect to each Credit Event for which a Dollar Amount is determined
on or as of such day.

21

                    SECTION
2.05. Swingline Loans. (a) Subject to the terms and
conditions set forth herein, the Swingline Lender agrees to make Swingline
Loans in Dollars to the Company 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 Swingline Loans
exceeding $15,000,000 or (ii) the Dollar Amount of the total Revolving Credit
Exposures exceeding the Aggregate Commitment; provided that the Swingline
Lender shall not be required to make a Swingline Loan to refinance an
outstanding Swingline Loan. Within the foregoing limits and subject to the
terms and conditions set forth herein, the Company may borrow, prepay and
reborrow Swingline Loans.

                    (b)
To request a Swingline Loan, the Company shall notify the Administrative Agent
of such request by telephone (confirmed by telecopy), not later than 12:00
noon, New York City time, on the day of a proposed Swingline Loan. Each such
notice shall be irrevocable and shall specify the requested date (which shall
be a Business Day) and amount of the requested Swingline Loan. The
Administrative Agent will promptly advise the Swingline Lender of any such
notice received from the Company. The Swingline Lender shall make each
Swingline Loan available to the Company by means of a credit to the general
deposit account of the Company with the Swingline Lender (or, in the case of a Swingline
Loan made to finance the reimbursement of an LC Disbursement as provided in
Section 2.06(e), by remittance to the Issuing Bank) by 3:00 p.m., New York City
time, on the requested date of such Swingline Loan.

                    (c)
The Swingline 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 Swingline Loans outstanding. Such notice shall specify the aggregate amount
of Swingline 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 Swingline
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 Swingline Lender, such Lender’s Applicable Percentage of such
Swingline Loan or Loans. Each Lender acknowledges and agrees that its
obligation to acquire participations in Swingline Loans pursuant to this
paragraph is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including the occurrence and continuance of a Default
or reduction or termination of the Commitments, and that each such payment
shall be made without any offset, abatement, withholding or reduction
whatsoever. Each Lender shall comply with its obligation under this paragraph
by wire transfer of immediately available funds, in the same manner as provided
in Section 2.07 with respect to Loans made by such Lender (and Section 2.07
shall apply, mutatis mutandis,
to the payment obligations of the Lenders), and the Administrative Agent shall
promptly pay to the Swingline Lender the amounts so received by it from the
Lenders. The Administrative Agent shall notify the Company of any
participations in any Swingline Loan acquired pursuant to this paragraph, and
thereafter payments in respect of such Swingline Loan shall be made to the
Administrative Agent and not to the Swingline Lender. Any amounts received by
the Swingline Lender from the Company (or other party on behalf of the Company)
in respect of a Swingline Loan after receipt by the Swingline Lender of the
proceeds of a sale of participations therein shall be promptly remitted to the
Administrative Agent; any such amounts received by the Administrative Agent
shall be promptly remitted by the Administrative Agent to the Lenders that
shall have made their payments pursuant to this paragraph and to the Swingline
Lender, as their interests may appear; provided that any such payment so
remitted shall be repaid to the Swingline Lender or to the Administrative
Agent, as applicable, if and to the extent such payment is required to be
refunded to the Company for any reason. The purchase of participations in a
Swingline Loan pursuant to this paragraph shall not relieve the Company of any
default in the payment thereof.

                    SECTION
2.06. Letters of Credit. (a) General. Subject to the
terms and conditions set forth herein, the Company may request the issuance of
Letters of Credit denominated in Dollars for its own account, in a form
reasonably acceptable to the Administrative Agent and the Issuing Bank, at any 

22

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
Company to, or entered into by the Company with, the Issuing Bank relating to
any Letter of Credit, the terms and conditions of this Agreement shall control.

                    (b)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions.
To request the issuance of a Letter of Credit (or the amendment, renewal or
extension of an outstanding Letter of Credit), the Company shall hand deliver
or telecopy (or transmit by electronic communication, if arrangements for doing
so have been approved by the Issuing Bank) to the Issuing Bank and the
Administrative Agent (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 Issuing Bank, the Company also shall
submit a letter of credit application on the Issuing Bank’s standard form in
connection with any request for a Letter of Credit. A Letter of Credit shall be
issued, amended, renewed or extended only if (and upon issuance, amendment,
renewal or extension of each Letter of Credit the Company shall be deemed to
represent and warrant that), after giving effect to such issuance, amendment,
renewal or extension (i) the Dollar Amount of the LC Exposure shall not exceed
$25,000,000 and (ii) subject to Section 2.04, the total Revolving Credit
Exposures shall not exceed the Aggregate Commitment.

                    (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 (5) Business Days prior to the Maturity Date.

                    (d)
Participations. By the issuance of a Letter of Credit
(or an amendment to a Letter of Credit increasing the amount thereof) and
without any further action on the part of the Issuing Bank or the Lenders, the
Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from
the Issuing Bank, a participation in such Letter of Credit equal to such
Lender’s Applicable Percentage of the aggregate Dollar 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 Issuing Bank, such Lender’s
Applicable Percentage of each LC Disbursement made by the Issuing Bank and not
reimbursed by the Company on the date due as provided in paragraph (e) of this
Section, or of any reimbursement payment required to be refunded to the Company
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 Issuing Bank shall make any LC
Disbursement in respect of a Letter of Credit, the Company shall reimburse such
LC Disbursement by paying to the Administrative Agent in Dollars the Dollar
Amount equal to such LC Disbursement, calculated as of the date the Issuing
Bank made such LC Disbursement not later than 12:00 noon, Local Time, on the
date that such LC Disbursement is made, if the Company shall have received
notice of such LC Disbursement prior to 10:00 a.m., Local Time, on such date,
or, if such notice has not been received by the Company prior to such time on
such date, then not later than 12:00 noon, Local Time, on (i) the Business Day
that the Company 

23

receives such
notice, if such notice is received prior to 10:00 a.m., Local Time, on the day
of receipt, or (ii) the Business Day immediately following the day that the
Company receives such notice, if such notice is not received prior to such time
on the day of receipt; provided that the Company
may, subject to the conditions to borrowing set forth herein, request in
accordance with Section 2.03 or 2.05 that such payment be financed with an ABR
Revolving Borrowing or Swingline Loan in an equivalent Dollar Amount of such LC
Disbursement and, to the extent so financed, the Company’s obligation to make
such payment shall be discharged and replaced by the resulting ABR Revolving
Borrowing or Swingline Loan. If the Company fails to make such payment when
due, the Administrative Agent shall notify each Lender of the applicable LC
Disbursement, the payment then due from the Company 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 Company, in the same manner as
provided in Section 2.07 with respect to Loans made by such Lender (and Section
2.07 shall apply, mutatis mutandis, to the payment
obligations of the Lenders), and the Administrative Agent shall promptly pay to
the Issuing Bank the amounts so received by it from the Lenders. Promptly
following receipt by the Administrative Agent of any payment from the Company
pursuant to this paragraph, the Administrative Agent shall distribute such
payment to the Issuing Bank or, to the extent that Lenders have made payments
pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders
and the Issuing Bank as their interests may appear. Any payment made by a
Lender pursuant to this paragraph to reimburse the Issuing Bank for any LC
Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan
as contemplated above) shall not constitute a Loan and shall not relieve the
Company of its obligation to reimburse such LC Disbursement.

                    (f)
Obligations Absolute. The Company’s obligation to
reimburse LC Disbursements as provided in paragraph (e) of this Section shall
be absolute, unconditional and irrevocable, and shall be performed strictly in
accordance with the terms of this Agreement under any and all circumstances
whatsoever and irrespective of (i) any lack of validity or enforceability of
any Letter of Credit or this Agreement, or any term or provision therein, (ii)
any draft or other document presented under a Letter of Credit proving to be
forged, fraudulent or invalid in any respect or any statement therein being untrue
or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter
of Credit against presentation of a draft or other document that does not
comply with the terms of such Letter of Credit, or (iv) any other event or
circumstance whatsoever, whether or not similar to any of the foregoing, that
might, but for the provisions of this Section, constitute a legal or equitable
discharge of, or provide a right of setoff against, the Company’s obligations
hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Bank,
nor any of their Related Parties, shall have any liability or responsibility by
reason of or in connection with the issuance or transfer of any Letter of
Credit or any payment or failure to make any payment thereunder (irrespective
of any of the circumstances referred to in the preceding sentence), or any
error, omission, interruption, loss or delay in transmission or delivery of any
draft, notice or other communication under or relating to any Letter of Credit
(including any document required to make a drawing thereunder), any error in
interpretation of technical terms or any consequence arising from causes beyond
the control of the Issuing Bank; provided that the foregoing
shall not be construed to excuse the Issuing Bank from liability to the Company
to the extent of any direct damages (as opposed to consequential damages,
claims in respect of which are hereby waived by the Company to the extent
permitted by applicable law) suffered by the Company that are caused by the
Issuing Bank’s failure to exercise care when determining whether drafts and
other documents presented under a Letter of Credit comply with the terms
thereof. The parties hereto expressly agree that, in the absence of gross
negligence or willful misconduct on the part of the Issuing Bank (as finally
determined by a court of competent jurisdiction), the Issuing Bank shall be
deemed to have exercised care in each such determination. In furtherance of the
foregoing and without limiting the generality thereof, the parties agree that,
with respect to documents presented which appear on their face to be in
substantial compliance with the terms of a Letter of Credit, the Issuing Bank
may, in its sole discretion, either accept and make payment upon such documents
without responsibility for further investigation, regardless of any notice or
information to 

24

the contrary,
or refuse to accept and make payment upon such documents if such documents are
not in strict compliance with the terms of such Letter of Credit.

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

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

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

                    (j)
Cash Collateralization. If any Event of Default shall
occur and be continuing, on the Business Day that the Company receives notice
from the Administrative Agent or the Required Lenders (or, if the maturity of
the Loans has been accelerated, Lenders with LC Exposure representing greater
than 50% of the total LC Exposure) demanding the deposit of cash collateral
pursuant to this paragraph, the Company 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 the Dollar Amount of the LC
Exposure as of such date plus any accrued and unpaid interest thereon; provided
that the obligation to deposit such cash collateral shall become effective
immediately, and such deposit shall become immediately due and payable, without
demand or other notice of any kind, upon the occurrence of any Event of Default
with respect to the Company described in clause (h) or (i) of Article VII. The
Company also shall deposit cash collateral pursuant to this paragraph as and to
the extent required by Section 2.11(b). Such deposit shall be held by the
Administrative Agent as collateral for the payment and performance of the
Obligations. The Administrative Agent shall have exclusive dominion and
control, including the exclusive right of withdrawal, over such account. Other
than any interest earned on the investment of such deposits, which investments
shall be made at the option and sole discretion of the 

25

Administrative
Agent and at the Company’s risk and expense, such deposits shall not bear
interest. Interest or profits, if any, on such investments shall accumulate in
such account. Moneys in such account shall be applied by the Administrative
Agent to reimburse the Issuing Bank for LC Disbursements for which it has not
been reimbursed and, to the extent not so applied, shall be held for the
satisfaction of the reimbursement obligations of the Company for the LC
Exposure at such time or, if the maturity of the Loans has been accelerated
(but subject to the consent of Lenders with LC Exposure representing greater
than 50% of the total LC Exposure), be applied to satisfy other obligations of
the Company under this Agreement. If the Company 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 Company within three Business Days after all Events of Default
have been cured or waived.

                    SECTION
2.07. Funding of Borrowings. (a) Each Lender shall make
each Loan to be made by it hereunder on the proposed date thereof by wire
transfer of immediately available funds (i) in the case of Loans denominated in
Dollars to the Company, by 12:00 noon, New York City time, to the account of
the Administrative Agent most recently designated by it for such purpose by
notice to the Lenders and (ii) in the case of each Loan denominated in a
Foreign Currency or to a Foreign Subsidiary Borrower, by 12:00 noon, Local
Time, in the city of the Administrative Agent’s Eurocurrency Payment Office for
such currency and Borrower and at such Eurocurrency Payment Office for such
currency and Borrower; provided that Swingline Loans shall be made as
provided in Section 2.05. The Administrative Agent will make such Loans
available to the relevant Borrower by promptly crediting the amounts so
received, in like funds, to (x) an account of the Company maintained with the
Administrative Agent in New York City or Chicago and designated by the relevant
Borrower in the applicable Borrowing Request, in the case of Loans denominated
in Dollars to the Company and (y) an account of such Borrower maintained with
the Administrative Agent in the relevant jurisdiction and designated by such
Borrower in the applicable Borrowing Request, in the case of Loans denominated
in a Foreign Currency or to a Foreign Subsidiary Borrower; provided
that ABR Revolving Loans made to finance the reimbursement of an LC
Disbursement as provided in Section 2.06(e) shall be remitted by the
Administrative Agent to the Issuing Bank.

                    (b)
Unless the Administrative Agent shall have received notice from a Lender prior
to the proposed date of any Borrowing that such Lender will not make available
to the Administrative Agent such Lender’s share of such Borrowing, the
Administrative Agent may assume that such Lender has made such share available
on such date in accordance with paragraph (a) of this Section and may, in
reliance upon such assumption, make available to the relevant Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share
of the applicable Borrowing available to the Administrative Agent, then the
applicable Lender and such Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount with
interest thereon, for each day from and including the date such amount is made
available to such Borrower to but excluding the date of payment to the
Administrative Agent, at (i) in the case of such Lender, the greater of the
Federal Funds Effective Rate and a rate determined by the Administrative Agent
in accordance with banking industry rules on interbank compensation (including
without limitation the Overnight Foreign Currency Rate in the case of Loans
denominated in a Foreign Currency) or (ii) in the case of such Borrower, the
interest rate applicable to ABR Loans. If such Lender pays such amount to the
Administrative Agent, then such amount shall constitute such Lender’s Loan
included in such Borrowing.

                    SECTION
2.08. Interest Elections. (a) Each Revolving Borrowing
initially shall be of the Type specified in the applicable Borrowing Request
and, in the case of a Eurocurrency Revolving Borrowing, shall have an initial
Interest Period as specified in such Borrowing Request. Thereafter, the
relevant Borrower may elect to convert such Borrowing to a different Type or to
continue such Borrowing and, in the case of a Eurocurrency Revolving Borrowing,
may elect Interest Periods therefor, all as 

26

provided in
this Section. A Borrower may elect different options with respect to different
portions of the affected Borrowing, in which case each such portion shall be
allocated ratably among the Lenders holding the Loans comprising such
Borrowing, and the Loans comprising each such portion shall be considered a
separate Borrowing. This Section shall not apply to Swingline Borrowings, which
may not be converted or continued.

                    (b)
To make an election pursuant to this Section, a Borrower, or the Company on its
behalf, shall notify the Administrative Agent of such election by telephone by
the time that a Borrowing Request would be required under Section 2.03 if such
Borrower were requesting a Revolving Borrowing of the Type resulting from such
election to be made on the effective date of such election. Each such
telephonic Interest Election Request shall be irrevocable and shall be
confirmed promptly by hand delivery or telecopy to the Administrative Agent of
a written Interest Election Request in a form approved by the Administrative
Agent and signed by the relevant Borrower, or the Company on its behalf.
Notwithstanding any contrary provision herein, this Section shall not be
construed to permit any Borrower to (i) change the currency of any
Borrowing, (ii) elect an Interest Period for Eurocurrency Loans that does
not comply with Section 2.02(d) or (iii) convert any Borrowing to a
Borrowing of a Type not available under the Class of Commitments pursuant to
which such Borrowing was made.

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

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

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

                    (e)
If the relevant Borrower fails to deliver a timely Interest Election Request
with respect to a Eurocurrency Revolving Borrowing prior to the end of the
Interest Period applicable thereto, then, unless such Borrowing is repaid as
provided herein, at the end of such Interest Period (i) in the case of a
Borrowing denominated in Dollars, such Borrowing shall be converted to an ABR
Borrowing and (ii) in the case of a Borrowing denominated in a Foreign Currency,
such Borrowing shall automatically continue as a Eurocurrency Borrowing in the
same Agreed Currency with an Interest Period of one month unless (x) such
Eurocurrency Borrowing is or was repaid in accordance with Section 2.11 or (y)
such Borrower shall have given the Administrative Agent an Interest Election
Request requesting that, at the 

27

end of such
Interest Period, such Eurocurrency Borrowing continue as a Eurocurrency
Borrowing for the same or another Interest Period. Notwithstanding any contrary
provision hereof, if an Event of Default has occurred and is continuing and the
Administrative Agent, at the request of the Required Lenders, so notifies the
Company, then, so long as an Event of Default is continuing (i) no outstanding
Revolving Borrowing borrowed by the Company may be converted to or continued as
a Eurocurrency Borrowing and (ii) unless repaid, each Eurocurrency Revolving
Borrowing borrowed by the Company shall be converted to an ABR Borrowing at the
end of the Interest Period applicable thereto.

                    SECTION
2.09. Termination and Reduction of Commitments. (a) Unless
previously terminated, the Commitments shall terminate on the Maturity Date.

                    (b)
The Company may at any time terminate, or from time to time reduce, the
Commitments; provided that (i) each
reduction of the Commitments shall be in an amount that is an integral multiple
of $1,000,000 and not less than $5,000,000 and (ii) the Company shall not
terminate or reduce the Commitments if, after giving effect to any concurrent
prepayment of the Loans in accordance with Section 2.11, the Dollar Amount of
the sum of the Revolving Credit Exposures would exceed the Aggregate
Commitment.

                    (c)
The Company shall notify the Administrative Agent of any election to terminate
or reduce the Commitments under paragraph (b) of this Section at least three
Business Days prior to the effective date of such termination or reduction,
specifying such election and the effective date thereof. Promptly following
receipt of any notice, the Administrative Agent shall advise the Lenders of the
contents thereof. Each notice delivered by the Company pursuant to this Section
shall be irrevocable; provided that a notice of
termination of the Commitments delivered by the Company may state that such
notice is conditioned upon the effectiveness of other credit facilities, in
which case such notice may be revoked by the Company (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition
is not satisfied. Any termination or reduction of the Commitments shall be
permanent. Each reduction of the Commitments shall be made ratably among the
Lenders in accordance with their respective Commitments.

                    SECTION
2.10. Repayment of Loans; Evidence of Debt. (a) Each
Borrower hereby unconditionally promises to pay (i) to the Administrative Agent
for the account of each Lender the then unpaid principal amount of each
Revolving Loan made to such Borrower on the Maturity Date in the currency of
such Loan and (ii) in the case of the Company, to the Swingline Lender the then
unpaid principal amount of each Swingline Loan on the earlier of the Maturity
Date and the first date after such Swingline Loan is made that is the 15th
or last day of a calendar month and is at least two Business Days after such
Swingline Loan is made; provided that on each date that a Revolving Borrowing
is made, the Company shall repay all Swingline Loans then outstanding.

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

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

28

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

                    (e)
Any Lender may request that Loans made by it to any Borrower be evidenced by a
promissory note. In such event, the relevant Borrower shall prepare, execute
and deliver to such Lender a promissory note payable to the order of such
Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in a form approved by the Administrative Agent. Thereafter, the
Loans evidenced by such promissory note and interest thereon shall at all times
(including after assignment pursuant to Section 9.04) be represented by one or
more promissory notes in such form payable to the order of the payee named
therein (or, if such promissory note is a registered note, to such payee and
its registered assigns).

                    SECTION
2.11. Prepayment of Loans.

                    (a)
Any Borrower shall have the right at any time and from time to time to prepay
any Borrowing in whole or in part, subject to prior notice in accordance with
the provisions of this Section 2.11(a). The applicable Borrower, or the Company
on behalf of the applicable Borrower, shall notify the Administrative Agent
(and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by
telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case
of prepayment of a Eurocurrency Revolving Borrowing, not later than 11:00 a.m.,
Local Time, three Business Days before the date of prepayment, (ii) in the case
of prepayment of an ABR Revolving Borrowing, not later than 11:00 a.m., New
York City time, one Business Day before the date of prepayment or (iii) in the
case of prepayment of a Swingline Loan, not later than 12:00 noon, New York
City time, on the date of prepayment. Each such notice shall be irrevocable and
shall specify the prepayment date and the principal amount of each Borrowing or
portion thereof to be prepaid; provided that, if a notice
of prepayment is given in connection with a conditional notice of termination
of the Commitments as contemplated by Section 2.09, then such notice of
prepayment may be revoked if such notice of termination is revoked in
accordance with Section 2.09. Promptly following receipt of any such notice
relating to a Revolving Borrowing, the Administrative Agent shall advise the
Lenders of the contents thereof. Each partial prepayment of any Revolving
Borrowing shall be in an amount that would be permitted in the case of an
advance of a Revolving Borrowing of the same Type as provided in Section 2.02.
Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans
included in the prepaid Borrowing. Prepayments shall be accompanied by (i)
accrued interest to the extent required by Section 2.13 and (ii) break funding
payments pursuant to Section 2.16.

                    (b)
If at any time, (i) other than as a result of fluctuations in currency exchange
rates, the sum of the aggregate principal Dollar Amount of all of the Revolving
Credit Exposures (calculated, with respect to those Credit Events denominated
in Foreign Currencies, as of the most recent Computation Date with respect to
each such Credit Event) exceeds the Aggregate Commitment or, with respect to
Revolving Loans made to Foreign Subsidiary Borrowers, exceeds the Foreign
Subsidiary Borrower Sublimit and (ii) solely as a result of fluctuations in
currency exchange rates, the sum of the aggregate principal Dollar Amount of
all of the outstanding Revolving Loans denominated in Foreign Currencies, as of
the most recent Computation Date with respect to each such Credit Event,
exceeds 105% of the Foreign Currency Sublimit, the Borrowers shall immediately
repay the relevant Borrowings or cash collateralize LC Disbursements in an
account with the Administrative Agent pursuant to Section 2.06(j), as
applicable, in an aggregate principal amount sufficient to eliminate any such
excess.

29

                    SECTION
2.12. Fees. (a) The Company agrees to pay to the
Administrative Agent for the account of each Lender a facility fee, which shall
accrue at the Applicable Rate on the amount of the Commitment of such Lender
during the period from and including the Effective Date to but excluding the
date on which such Commitment terminates; provided that, if such
Lender continues to have any Revolving Credit Exposure after its Commitment
terminates, then such facility fee shall continue to accrue on the amount of
such Lender’s Commitment from and including the date on which its Commitment
terminates to but excluding the date on which such Lender ceases to have any
Revolving Credit Exposure. Accrued facility fees shall be payable in arrears on
the last day of March, June, September and December of each year and on the
date on which the Commitments terminate, commencing on the first such date to
occur after the date hereof; provided that any facility fees accruing after the
date on which the Commitments terminate shall be payable on demand. All
facility 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).

                    (b)
The Company agrees to pay (i) to the Administrative Agent for the account of
each Lender a participation fee with respect to its participations in Letters
of Credit, which shall accrue at the same Applicable Rate used to determine the
interest rate applicable to Eurocurrency Revolving Loans on the average daily
Dollar Amount of such Lender’s LC Exposure (excluding any portion thereof
attributable to unreimbursed LC Disbursements) during the period from and
including the Effective Date to but excluding the later of the date on which
such Lender’s Commitment terminates and the date on which such Lender ceases to
have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall
accrue at a rate per annum separately agreed upon between the Company and the
Issuing Bank on the average daily Dollar Amount of the LC Exposure (excluding
any portion thereof attributable to unreimbursed LC Disbursements) during the
period from and including the Effective Date to but excluding the later of the
date of termination of the Commitments and the date on which there ceases to be
any LC Exposure, as well as the Issuing Bank’s standard fees and commissions
with respect to the issuance, amendment, cancellation, negotiation, transfer,
presentment, 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 (3rd) Business Day following such last
day, commencing on the first such date to occur after the Effective Date; provided
that all such fees shall be payable on the date on which the Commitments
terminate and any such fees accruing after the date on which the Commitments
terminate shall be payable on demand. Any other fees payable to the Issuing
Bank pursuant to this paragraph shall be payable within ten (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).

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

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

                    SECTION
2.13. Interest. (a) The Loans comprising each ABR Borrowing
shall bear interest at the Alternate Base Rate. Each Swingline Loan shall bear
interest at the Alternate Base Rate or an alternate interest rate agreed upon
between the Company and the Swingline Lender.

30

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

                    (c)
Notwithstanding the foregoing, if any principal of or interest on any Loan or
any fee or other amount payable by any Borrower hereunder is not paid when due,
whether at stated maturity, upon acceleration or otherwise, such overdue amount
shall bear interest, after as well as before judgment, at a rate per annum
equal to (i) in the case of overdue principal of any Loan, 2% plus the rate
otherwise applicable to such Loan as provided in the preceding paragraphs of
this Section or (ii) in the case of any other amount, 2% plus the rate applicable
to ABR Loans as provided in paragraph (a) of this Section.

                    (d)
Accrued interest on each Loan shall be payable in arrears on each Interest
Payment Date for such Loan and, in the case of Revolving Loans, upon
termination of the Commitments; provided that (i) interest accrued pursuant to
paragraph (c) of this Section shall be payable on demand, (ii) in the event of
any repayment or prepayment of any Loan (other than a prepayment of an ABR
Revolving Loan prior to the end of the Availability Period), accrued interest
on the principal amount repaid or prepaid shall be payable on the date of such
repayment or prepayment and (iii) in the event of any conversion of any
Eurocurrency Revolving Loan prior to the end of the current Interest Period therefor,
accrued interest on such Loan shall be payable on the effective date of such
conversion. 

                    (e)
All interest hereunder shall be computed on the basis of a year of 360 days,
except that interest (i) computed by reference to the Alternate Base Rate at
times when the Alternate Base Rate is based on the Prime Rate shall be computed
on the basis of a year of 365 days (or 366 days in a leap year) and (ii) for
Borrowings denominated in Pounds Sterling shall be computed on the basis of a
year of 365 days, and in each case shall be payable for the actual number of
days elapsed (including the first day but excluding the last day). The
applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be
determined by the Administrative Agent, and such determination shall be
conclusive absent manifest error.

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

then the
Administrative Agent shall give notice thereof to the applicable Borrower and
the Lenders by telephone or telecopy as promptly as practicable thereafter and,
until the Administrative Agent notifies the applicable Borrower and the Lenders
that the circumstances giving rise to such notice no longer exist, (i) any
Interest Election Request that requests the conversion of any Revolving
Borrowing to, or continuation of any Revolving Borrowing as, a Eurocurrency
Borrowing shall be ineffective and (ii) if any Borrowing Request requests a
Eurocurrency Revolving Borrowing, such Borrowing shall be made as an ABR
Borrowing; provided that if
the circumstances giving rise to such notice affect only one Type of
Borrowings, then the other Type of Borrowings shall be permitted.

31

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

and the result
of any of the foregoing shall be to increase the cost to such Lender of making
or maintaining any Eurocurrency Loan or of maintaining its obligation to make
any such Loan (including, without limitation, pursuant to any conversion of any
Borrowing denominated in an Agreed Currency into a Borrowing denominated in any
other Agreed Currency) or to increase the cost to such Lender or the Issuing
Bank of participating in, issuing or maintaining any Letter of Credit
(including, without limitation, pursuant to any conversion of any Borrowing
denominated in an Agreed Currency into a Borrowing denominated in any other
Agreed Currency) or to reduce the amount of any sum received or receivable by
such Lender or the Issuing Bank hereunder, whether of principal, interest or
otherwise (including, without limitation, pursuant to any conversion of any
Borrowing denominated in an Agreed Currency into a Borrowing denominated in any
other Agreed Currency), then the applicable Borrower will pay to such Lender or
the Issuing Bank, as the case may be, such additional amount or amounts as will
compensate such Lender or the Issuing Bank, as the case may be, for such
additional costs incurred or reduction suffered.

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

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

                    (d)
Failure or delay on the part of any Lender or the Issuing Bank to demand
compensation pursuant to this Section shall not constitute a waiver of such
Lender’s or the Issuing Bank’s right to demand such compensation; provided
that the Company shall not be required to compensate a Lender or the Issuing
Bank pursuant to this Section for any increased costs or reductions incurred
more than 180 days prior to the date that such Lender or the Issuing Bank, as
the case may be, notifies the Company of the Change in Law giving rise to such
increased costs or reductions and of such Lender’s or the Issuing Bank’s
intention to claim compensation therefor; provided further that,
if the Change in Law

32

giving rise to
such increased costs or reductions is retroactive, then the 180-day period
referred to above shall be extended to include the period of retroactive effect
thereof.

                    SECTION
2.16. Break Funding Payments. In the event of (a) the payment of any principal
of any Eurocurrency Loan other than on the last day of an Interest Period
applicable thereto (including as a result of an Event of Default or as a result
of any prepayment pursuant to Section 2.11), (b) the conversion of any
Eurocurrency Loan other than on the last day of the Interest Period applicable thereto,
(c) the failure to borrow, convert, continue or prepay any Eurocurrency Loan on
the date specified in any notice delivered pursuant hereto (regardless of
whether such notice may be revoked under Section 2.11(b) and is revoked in
accordance therewith) or (d) the assignment of any Eurocurrency Loan other than
on the last day of the Interest Period applicable thereto as a result of a
request by the Company pursuant to Section 2.19, then, in any such event, the
Borrowers shall compensate each Lender for the loss, cost and expense
attributable to such event. Such loss, cost or expense to any Lender shall be
deemed to include an amount determined by such Lender to be the excess, if any,
of (i) the amount of interest which would have accrued on the principal amount
of such Loan had such event not occurred, at the Adjusted LIBO Rate that would
have been applicable to such Loan, for the period from the date of such event
to the last day of the then current Interest Period therefor (or, in the case
of a failure to borrow, convert or continue, for the period that would have
been the Interest Period for such Loan), over (ii) the amount of interest which
would accrue on such principal amount for such period at the interest rate
which such Lender would bid were it to bid, at the commencement of such period,
for deposits in the relevant currency of a comparable amount and period from
other banks in the eurocurrency market. A certificate of any Lender setting
forth any amount or amounts that such Lender is entitled to receive pursuant to
this Section shall be delivered to the applicable Borrower and shall be
conclusive absent manifest error. The applicable Borrower shall pay such Lender
the amount shown as due on any such certificate within ten (10) days after
receipt thereof. 

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

                    (b)
In addition, each Borrower shall pay any Other Taxes related to such Borrower
and imposed on or incurred by the Administrative Agent, a Lender or the Issuing
Bank to the relevant Governmental Authority in accordance with applicable law.

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

33

                    (d)
As soon as practicable after any payment of Indemnified Taxes or Other Taxes by
any Borrower to a Governmental Authority, such 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)
Any Foreign Lender that is entitled to an exemption from or reduction of
withholding tax under the law of the jurisdiction in which a Borrower is
located, or any treaty to which such jurisdiction is a party, with respect to
payments under this Agreement shall deliver to such Borrower (with a copy to
the Administrative Agent), at the time or times prescribed by applicable law,
such properly completed and executed documentation prescribed by applicable law
or reasonably requested by such Borrower as will permit such payments to be
made without withholding or at a reduced rate.

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

                    SECTION
2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.  

                    (a)
Each Borrower shall make each payment required to be made by it hereunder
(whether of principal, interest, fees or reimbursement of LC Disbursements, or of
amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to (i) in
the case of payments denominated in Dollars by the Company, 12:00 noon, New
York City time and (ii) in the case of payments denominated in a Foreign
Currency or by a Foreign Subsidiary Borrower, 12:00 noon, Local Time, in the
city of the Administrative Agent’s Eurocurrency Payment Office for such
currency, in each case on the date when due, in immediately available funds,
without set-off or counterclaim. Any amounts received after such time on any
date may, in the discretion of the Administrative Agent, be deemed to have been
received on the next succeeding Business Day for purposes of calculating
interest thereon. All such payments shall be made (i) in the same currency in which
the applicable Credit Event was made (or where such currency has been converted
to euro, in euro) and (ii) to the Administrative Agent at its offices at 270
Park Avenue, New York, New York 10017 or, in the case of a Credit Event
denominated in a Foreign Currency or to a Foreign Subsidiary Borrower, the
Administrative Agent’s Eurocurrency Payment Office for such currency, except
payments to be made directly to the Issuing Bank or Swingline Lender as
expressly provided herein and except that payments pursuant to Sections 2.15,
2.16, 2.17 and 9.03 shall be made directly to the Persons entitled thereto. The
Administrative Agent shall distribute any such payments denominated in the same
currency received by it for the account of any other Person to the appropriate
recipient promptly following receipt thereof. If any payment hereunder shall be
due on a day that is not a Business Day, the date for payment shall be extended
to the next succeeding Business Day, and, in the case of any payment accruing
interest, interest thereon shall be payable for the period of such extension.
Notwithstanding the foregoing provisions of this Section, if, after the making
of any Credit Event in any

34

Foreign
Currency, currency control or exchange regulations are imposed in the country
which issues such currency with the result that the type of currency in which
the Credit Event was made (the “Original Currency”) no longer exists or
any Borrower is not able to make payment to the Administrative Agent for the
account of the Lenders in such Original Currency, then all payments to be made
by such Borrower hereunder in such currency shall instead be made when due in
Dollars in an amount equal to the Dollar Amount (as of the date of repayment)
of such payment due, it being the intention of the parties hereto that the
Borrowers take all risks of the imposition of any such currency control or
exchange regulations.

                    (b)
If at any time insufficient funds are received by and available to the
Administrative Agent to pay fully all amounts of principal, unreimbursed LC
Disbursements, interest and fees then due hereunder, such funds shall be
applied (i) first, towards payment of interest and fees then due hereunder,
ratably among the parties entitled thereto in accordance with the amounts of
interest and fees then due to such parties, and (ii) second, towards payment of
principal and unreimbursed LC Disbursements then due hereunder, ratably among
the parties entitled thereto in accordance with the amounts of principal and
unreimbursed LC Disbursements then due to such parties.

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

                    (d)
Unless the Administrative Agent shall have received notice from the relevant
Borrower prior to the date on which any payment is due to the Administrative
Agent for the account of the Lenders or the Issuing Bank hereunder that such
Borrower will not make such payment, the Administrative Agent may assume that
such Borrower has made such payment on such date in accordance herewith and
may, in reliance upon such assumption, distribute to the Lenders or the Issuing
Bank, as the case may be, the amount due. In such event, if such Borrower has
not in fact made such payment, then each of the Lenders or the Issuing Bank, as
the case may be, severally agrees to repay to the Administrative Agent
forthwith on demand the amount so distributed to such Lender or Issuing Bank
with interest thereon, for each day from and including the date such amount is
distributed to it to but excluding the date of payment to the Administrative
Agent, at the greater of the Federal Funds Effective Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on
interbank compensation (including without limitation the Overnight Foreign
Currency Rate in the case of Loans denominated in a Foreign Currency).

35

                    (e)
If any Lender shall fail to make any payment required to be made by it pursuant
to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(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.

                    SECTION
2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.15, or if any Borrower is required to pay
any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.17, then 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 2.15 or 2.17, as the case may be, in the future and
(ii) would not subject such Lender to any unreimbursed cost or expense and
would not otherwise be disadvantageous to such Lender. The Company hereby
agrees to pay all reasonable costs and expenses incurred by any Lender in
connection with any such designation or assignment.

                    (b)
If any Lender requests compensation under Section 2.15, or if any Borrower is
required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.17, or if any
Lender defaults in its obligation to fund Loans hereunder, then the Company
may, at its sole expense and effort, upon notice to such Lender and the
Administrative Agent, require such Lender to assign and delegate, without
recourse (in accordance with and subject to the restrictions contained in
Section 9.04), all its interests, rights and obligations under the Loan
Documents to an assignee that shall assume such obligations (which assignee may
be another Lender, if a Lender accepts such assignment); provided that
(i) the Company shall have received the prior written consent of the
Administrative Agent, which consent shall not unreasonably be withheld, (ii)
such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans and participations in LC Disbursements and Swingline
Loans, accrued interest thereon, accrued fees and all other amounts payable to
it hereunder, from the assignee (to the extent of such outstanding principal
and accrued interest and fees) or the Company (in the case of all other
amounts) and (iii) in the case of any such assignment resulting from a claim
for compensation under Section 2.15 or payments required to be made pursuant to
Section 2.17, such assignment will result in a reduction in such compensation
or payments. A Lender shall not be required to make any such assignment and
delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Company to require such assignment
and delegation cease to apply.

                    SECTION
2.20. Expansion Option. The Company may from time to time elect to
increase the Commitments in minimum increments of $20,000,000 so long as, after
giving effect thereto, the aggregate amount of such increases does not exceed
$100,000,000. The Company may arrange for any such increase to be provided by
one or more Lenders (each Lender so agreeing to an increase in its Commitment,
an “Increasing Lender”), or by one or more new banks, financial
institutions or other entities (each such new bank, financial institution or
other entity, an “Augmenting Lender”), to increase their existing
Commitments, or extend Commitments, as the case may be; provided that
(i) each Augmenting Lender, shall be subject to the approval of the Company and
the Administrative Agent and (ii) (x) in the case of an Increasing Lender, the
Company and such Increasing Lender execute an agreement substantially in the
form of Exhibit C hereto, and (y) in the case of an Augmenting Lender,
the Company and such Augmenting Lender execute an agreement substantially in
the form of Exhibit D hereto. Increases and new Commitments created
pursuant to this Section 2.20 shall become effective on the date agreed by the
Company, the Administrative Agent and the relevant Increasing Lenders or
Augmenting Lenders and the Administrative Agent shall notify each Lender
thereof. Notwithstanding the foregoing, no increase in the Commitments (or in
the Commitment of any Lender), shall become effective

36

under this
paragraph unless, (i) on the proposed date of the effectiveness of such
increase, the conditions set forth in paragraphs (a) and (b) of Section 4.02
shall be satisfied or waived by the Required Lenders and the Administrative
Agent shall have received a certificate to that effect dated such date and
executed by a Financial Officer of the Company and (ii) the Administrative
Agent shall have received documents consistent with those delivered on the
Effective Date as to the corporate power and authority of the Borrowers to
borrow hereunder after giving effect to such increase. On the effective date of
any increase in the Commitments, (i) each relevant Increasing Lender and
Augmenting Lender shall make available to the Administrative Agent such amounts
in immediately available funds as the Administrative Agent shall determine, for
the benefit of the other Lenders, as being required in order to cause, after
giving effect to such increase and the use of such amounts to make payments to
such other Lenders, each Lender’s portion of the outstanding Revolving Loans of
all the Lenders to equal its Applicable Percentage of such outstanding
Revolving Loans, and (ii) the Borrowers shall be deemed to have repaid and
reborrowed all outstanding Revolving Loans as of the date of any increase in
the Commitments (with such reborrowing to consist of the Types of Revolving
Loans, with related Interest Periods if applicable, specified in a notice
delivered by the Company in accordance with the requirements of Section 2.03).
The deemed payments made pursuant to clause (ii) of the immediately preceding
sentence shall be accompanied by payment of all accrued interest on the amount
prepaid and, in respect of each Eurocurrency Loan, shall be subject to
indemnification by the Borrowers pursuant to the provisions of Section 2.16 if
the deemed payment occurs other than on the last day of the related Interest
Periods.

                    SECTION
2.21. Market Disruption. Notwithstanding the satisfaction of all
conditions referred to in Article II and Article IV with respect to any Credit
Event to be effected in any Foreign Currency, if (i) there shall occur on or
prior to the date of such Credit Event any change in national or international
financial, political or economic conditions or currency exchange rates or
exchange controls which would in the reasonable opinion of the Administrative
Agent or the Required Lenders make it impracticable for the Eurocurrency
Borrowings or Letters of Credit comprising such Credit Event to be denominated
in the Agreed Currency specified by the applicable Borrower or (ii) an
Equivalent Amount of such currency is not readily calculable, then the
Administrative Agent shall forthwith give notice thereof to such Borrower, the
Lenders and such Credit Events shall not be denominated in such Agreed Currency
but shall, except as otherwise set forth in Section 2.07, be made on the date
of such Credit Event in Dollars in an aggregate principal amount equal to the
Dollar Amount of the aggregate principal amount specified in the related Credit
Event Request or Interest Election Request, as the case may be, as ABR Loans,
unless such Borrower notifies the Administrative Agent at least one Business
Day before such date that (i) it elects not to borrow on such date or (ii) it
elects to borrow on such date in a different Agreed Currency, as the case may
be, in which the denomination of such Loans would in the reasonable opinion of
the Administrative Agent and the Required Lenders be practicable and in an
aggregate principal amount equal to the Dollar Amount of the aggregate
principal amount specified in the related Credit Event Request or Interest
Election Request, as the case may be.

                    SECTION
2.22. Judgment Currency. If for the purposes of obtaining judgment in
any court it is necessary to convert a sum due from any Borrower hereunder in
the currency expressed to be payable herein (the “specified currency”)
into another currency, the parties hereto agree, to the fullest extent that
they may effectively do so, that the rate of exchange used shall be that at
which in accordance with normal banking procedures the Administrative Agent
could purchase the specified currency with such other currency at the
Administrative Agent’s main New York City office on the Business Day preceding
that on which final, non-appealable judgment is given. The obligations of each
Borrower in respect of any sum due to any Lender or the Administrative Agent
hereunder shall, notwithstanding any judgment in a currency other than the
specified currency, be discharged only to the extent that on the Business Day
following receipt by such Lender or the Administrative Agent (as the case may
be) of any sum adjudged to be so due in such other currency such Lender or the
Administrative Agent (as the case may be) may in accordance with normal,
reasonable banking procedures purchase the specified currency

37

with such
other currency. If the amount of the specified currency so purchased is less
than the sum originally due to such Lender or the Administrative Agent, as the
case may be, in the specified currency, each Borrower agrees, to the fullest
extent that it may effectively do so, as a separate obligation and
notwithstanding any such judgment, to indemnify such Lender or the
Administrative Agent, as the case may be, against such loss, and if the amount
of the specified currency so purchased exceeds (a) the sum originally due to
any Lender or the Administrative Agent, as the case may be, in the specified
currency and (b) any amounts shared with other Lenders as a result of
allocations of such excess as a disproportionate payment to such Lender under
Section 2.18, such Lender or the Administrative Agent, as the case may be,
agrees to remit such excess to such Borrower.

                    SECTION
2.23. Designation of Foreign Subsidiary Borrowers. The Company may at
any time and from time to time, with five (5) Business Days’ prior notice to
the Lenders, designate any Eligible Foreign Subsidiary as a Foreign Subsidiary
Borrower by delivery to the Administrative Agent of a Borrowing Subsidiary
Agreement executed by such Subsidiary and the Company and the satisfaction of
the other conditions precedent set forth in Section 4.03, and upon such
delivery and satisfaction such Subsidiary shall for all purposes of this
Agreement be a Foreign Subsidiary Borrower and a party to this Agreement until
the Company shall have executed and delivered to the Administrative Agent a
Borrowing Subsidiary Termination with respect to such Subsidiary, whereupon
such Subsidiary shall cease to be a Foreign Subsidiary Borrower and a party to
this Agreement. Notwithstanding the preceding sentence, no Borrowing Subsidiary
Termination will become effective as to any Foreign Subsidiary Borrower at a time
when any principal of or interest on any Loan to such Borrower shall be
outstanding hereunder, provided that such Borrowing Subsidiary
Termination shall be effective to terminate the right of such Foreign
Subsidiary Borrower to make further Borrowings under this Agreement. As soon as
practicable upon receipt of a Borrowing Subsidiary Agreement, the
Administrative Agent shall furnish a copy thereof to each Lender.

ARTICLE III

Representations and Warranties

                    Each
Borrower represents and warrants to the Lenders that:

                    SECTION
3.01. Organization; Powers; Subsidiaries. Each of the Company and its
Subsidiaries is duly organized, validly existing and in good standing (to the
extent such concept is applicable in the relevant jurisdiction) under the laws
of the jurisdiction of its organization, has all requisite power and authority
to carry on its business as now conducted and, except where the failure to do
so, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect, is qualified to do business in, and is in
good standing (to the extent such concept is applicable) in, every jurisdiction
where such qualification is required. Schedule 3.01 hereto (as supplemented
from time to time) identifies each Subsidiary, if such Subsidiary is a Material
Subsidiary, the jurisdiction of its incorporation or organization, as the case
may be, the percentage of issued and outstanding shares of each class of its
capital stock or other equity interests owned by the Company and the other
Subsidiaries and, if such percentage is not 100% (excluding directors’
qualifying shares as required by law), a description of each class issued and
outstanding. All of the outstanding shares of capital stock and other equity
interests of each Subsidiary are validly issued and outstanding and fully paid
and nonassessable and all such shares and other equity interests indicated on
Schedule 3.01 as owned by the Company or another Subsidiary are owned,
beneficially and of record, by the Company or any Subsidiary free and clear of
all Liens, other than Liens created under the Pledge Agreements. There are no
outstanding commitments or other obligations of the Company or any Subsidiary
to issue, and no options, warrants or other rights of any Person to acquire,
any shares of any class of capital stock or other equity interests of any
Subsidiary.

38

                    SECTION
3.02. Authorization; Enforceability. The Transactions are within each
Borrower’s corporate powers and have been duly authorized by all necessary
corporate and, if required, shareholder action; provided that the
exercise of the expansion option set forth in Section 2.20 to cause the
Aggregate Commitment to exceed $150,000,000 will require additional approval of
the board of directors of the Company. This Agreement has been duly executed
and delivered by the Company and constitutes a legal, valid and binding
obligation of the Company, enforceable in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law.
Each Borrowing Subsidiary Agreement has been duly executed and delivered by the
Borrower party thereto and constitutes a legal, valid and binding obligation of
such Borrower, enforceable against such Borrower in accordance with its terms,
subject to applicable bankruptcy, insolvency, reorganization, moratorium or
other laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in
equity or at law.

                    SECTION
3.03. Governmental Approvals; No Conflicts. The Transactions (a) do not
require the Company or any of its Subsidiaries to obtain or make any consent or
approval of, registration or filing with, or any other action by, any
Governmental Authority, except such as have been obtained or made and are in
full force and effect, (b) will not violate any applicable law or regulation or
the charter, by-laws or other organizational documents of the Company or any of
its Subsidiaries or any order of any Governmental Authority applicable to the
Company or any of its Subsidiaries, (c) will not violate or result in a default
under any indenture, agreement or other instrument binding upon the Company or
any of its Subsidiaries or its assets, or give rise to a right thereunder to
require any payment to be made by the Company or any of its Subsidiaries, and
(d) will not result in the creation or imposition of any Lien on any asset of
the Company or any of its Subsidiaries, other than Liens created under the
Pledge Agreements.

                    SECTION
3.04. Financial Condition; No Material Adverse Change. (a) The Company
has heretofore furnished to the Lenders its consolidated balance sheet and
statements of income, stockholders equity and cash flows (i) as of and for the
fiscal year ended December 31, 2006 reported on by KPMG LLP, independent public
accountants, and (ii) as of and for the fiscal quarter and the portion of the
fiscal year ended March 31, 2007, certified by its chief financial officer.
Such financial statements present fairly, in all material respects, the financial
position and results of operations and cash flows of the Company and its
consolidated Subsidiaries as of such dates and for such periods in accordance
with GAAP, subject to year-end audit adjustments and the absence of footnotes
in the case of the statements referred to in clause (ii) above.

                    (b)
Since December 31, 2006, there has been no material adverse change in the
business, assets, operations or condition, financial or otherwise, of the
Company and its Subsidiaries, taken as a whole.

                    SECTION
3.05. Properties. (a) Each of the Company and its Subsidiaries has good
title to, or valid leasehold interests in, all its real and personal property
material to its business, except for minor defects in title that do not interfere
with its ability to conduct its business as currently conducted or to utilize
such properties for their intended purposes. There are no Liens on any of the
real or personal properties of the Company or any Subsidiary except for Liens
permitted by Section 6.02. 

                    (b)
Each of the Company and its Subsidiaries owns, or is licensed to use, all
trademarks, tradenames, copyrights, patents and other intellectual property
material to its business, and, to the knowledge of the Company, the use thereof
by the Company and its Subsidiaries does not infringe upon

39

the rights of
any other Person, except for any such infringements that, individually or in
the aggregate, could not reasonably be expected to result in a Material Adverse
Effect.

                    SECTION
3.06. Litigation and Environmental Matters. (a) There are no actions,
suits, proceedings or investigations by or before any arbitrator or
Governmental Authority pending against or, to the knowledge of any Borrower,
threatened against or affecting the Company or any of its Subsidiaries (i) as
to which there is a reasonable possibility of an adverse determination and
that, if adversely determined, could reasonably be expected, individually or in
the aggregate, to result in a Material Adverse Effect or (ii) that involve this
Agreement or the Transactions. There are no labor controversies pending against
or, to the knowledge of the Company, threatened against or affecting the
Company or any of its Subsidiaries (i) which could reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect, or
(ii) that involve this Agreement or the Transactions.

                    (b)
Except with respect to any other matters that, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse
Effect, neither the Company nor any of its Subsidiaries (i) has failed to
comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval required under any Environmental Law, (ii)
has become subject to any Environmental Liability, (iii) has received notice of
any claim with respect to any Environmental Liability or (iv) knows of any
basis for any Environmental Liability.

                    (c)
Neither the Company nor any Subsidiary is party or subject to any law,
regulation, rule or order, or any obligation under any agreement or instrument,
that has a Material Adverse Effect.

                    SECTION
3.07. Compliance with Laws and Agreements. Each of the Company and its
Subsidiaries is in compliance with all laws, regulations and orders of any
Governmental Authority applicable to it or its property and all indentures,
agreements and other instruments binding upon it or its property, except where the
failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect.

                    SECTION
3.08. Investment Company Status. Neither the Company nor any of its
Subsidiaries is an “investment company” as defined in, or subject to regulation
under, the Investment Company Act of 1940.

                    SECTION
3.09. Taxes. Each of the Company and its Subsidiaries has timely filed
or caused to be filed all Tax returns and reports required to have been filed
and has paid or caused to be paid all Taxes required to have been paid by it,
except (a) Taxes that are being contested in good faith by appropriate
proceedings and for which the Company or such Subsidiary, as applicable, has
set aside on its books adequate reserves or (b) to the extent that the failure
to do so could not reasonably be expected to result in a Material Adverse
Effect.

                    SECTION
3.10. ERISA. No ERISA Event has occurred or is reasonably expected to
occur that, when taken together with all other such ERISA Events for which
liability is reasonably expected to occur, could reasonably be expected to
result in a Material Adverse Effect. 

                    SECTION
3.11. Disclosure. The Company has disclosed to the Lenders all
agreements, instruments and corporate or other restrictions to which it or any
of its Subsidiaries is subject, and all other matters known to it, that,
individually or in the aggregate, could reasonably be expected to result in a
Material Adverse Effect. None of the reports, financial statements,
certificates or other information furnished by or on behalf of the Company or
any Subsidiary to the Administrative Agent or any Lender in connection with the
Information Memorandum, the negotiation of this Agreement or delivered
hereunder (as modified or supplemented by other information so furnished)
contains any material misstatement of

40

fact or omits
to state any material fact necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrowers represent
only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time. 

                    SECTION
3.12. Federal Reserve Regulations. No part of the proceeds of any Loan
have been used or will be used, whether directly or indirectly, for any purpose
that entails a violation of any of the Regulations of the Board, including
Regulations T, U and X.

                    SECTION
3.13. Liens. There are no Liens on any of the real or personal
properties of the Borrower or any Subsidiary except for Liens permitted by
Section 6.02.

                    SECTION
3.14. No Default. Each Borrower is in full compliance with this
Agreement and no Default or Event of Default has occurred and is continuing.

ARTICLE IV

Conditions

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

	
 

	
 

	
 

	
          (a)
  The Administrative Agent (or its counsel) shall have received from each party
  hereto either (i) a counterpart of this Agreement signed on behalf of such
  party or (ii) written evidence satisfactory to the Administrative Agent
  (which may include telecopy transmission of a signed signature page of this
  Agreement) that such party has signed a counterpart of this Agreement.

	
 

	
 

	
 

	
          (b)
  The Administrative Agent shall have received favorable written opinions
  (addressed to the Administrative Agent and the Lenders and dated the
  Effective Date) of (a) Heidi M. Hoard, General Counsel of the Company and (b)
  Faegre & Benson LLP, counsel to the Loan Parties, substantially in the
  form of Exhibits B-1 and B-2 respectively, in each case, covering such other
  matters relating to the Loan Parties, the Loan Documents or the Transactions as
  the Administrative Agent shall reasonably request. The Company hereby
  requests such counsels to deliver such opinions.

	
 

	
 

	
 

	
          (c)
  The Lenders shall have received satisfactory financial statement projections
  through and including the Company’s 2012 fiscal year, together with such
  information as the Administrative Agent and the Lenders shall reasonably
  request.

	
 

	
 

	
 

	
          (d)
  The Administrative Agent shall have received such documents and certificates
  as the Administrative Agent or its counsel may reasonably request relating to
  the organization, existence and good standing of the initial Loan Parties,
  the authorization of the Transactions and any other legal matters relating to
  such Loan Parties, the Loan Documents or the Transactions, all in form and
  substance satisfactory to the Administrative Agent and its counsel and as
  further described in the list of closing documents attached as Exhibit E.

	
 

	
 

	
 

	
          (e)
  The Administrative Agent shall have received a certificate, dated the
  Effective Date and signed by the President, a Vice President or a Financial
  Officer of the Company, confirming compliance with the conditions set forth
  in paragraphs (a) and (b) of Section 4.02.

41

	
 

	
 

	
 

	
          (f)
  The Administrative Agent shall have received evidence satisfactory to it that
  the Existing Credit Agreements shall have been cancelled and terminated and
  all indebtedness thereunder shall have been fully repaid (except to the
  extent being so repaid with the initial Revolving Loans).

	
 

	
 

	
 

	
          (g)
  The Administrative Agent shall have received all fees and other amounts due
  and payable on or prior to the Effective Date, including, to the extent
  invoiced, reimbursement or payment of all out-of-pocket expenses required to
  be reimbursed or paid by the Company hereunder.

	
 

	
 

	
 

	
          (h)
  The Administrative Agent shall have received evidence reasonably satisfactory
  to it that all governmental and third party approvals necessary or, in the
  reasonable discretion of the Administrative Agent, advisable in connection
  with the Transactions have been obtained and are in full force and effect. 

The
Administrative Agent shall notify the Company and the Lenders of the Effective
Date, and such notice shall be conclusive and binding. 

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

	
 

	
 

	
 

	
          (a)
  The representations and warranties of the Borrowers set forth in this
  Agreement shall be true and correct on and as of the date of such Borrowing
  or the date of issuance, amendment, renewal or extension of such Letter of
  Credit, as applicable.

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (c)
  No law or regulation shall prohibit, and no order, judgment or decree of any
  Governmental Authority shall enjoin, prohibit or restrain, any Lender from
  making the requested Loan or the Issuing Bank or any Lender from issuing,
  renewing, extending or increasing the face amount of or participating in the
  Letter of Credit requested to be issued, renewed, extended or increased.

Each Borrowing
and each issuance, amendment, renewal or extension of a Letter of Credit shall
be deemed to constitute a representation and warranty by the Borrowers on the
date thereof as to the matters specified in paragraphs (a) and (b) of this
Section.

                    SECTION
4.03. Designation of a Foreign Subsidiary Borrower. The designation of a
Foreign Subsidiary Borrower pursuant to Section 2.23 is subject to the
condition precedent that the Company or such proposed Foreign Subsidiary
Borrower shall have furnished or caused to be furnished to the Administrative
Agent:

	
 

	
 

	
 

	
          (a)
  Copies, certified by the Secretary or Assistant Secretary of such Subsidiary,
  of its Board of Directors’ resolutions (and resolutions of other bodies, if
  any are deemed necessary by counsel for the Administrative Agent) approving
  the Borrowing Subsidiary Agreement and any other Loan Documents to which such
  Subsidiary is becoming a party;

42

	
 

	
 

	
 

	
          (b)
  An incumbency certificate, executed by the Secretary or Assistant Secretary
  of such Subsidiary, which shall identify by name and title and bear the
  signature of the officers of such Subsidiary authorized to request Borrowings
  hereunder and sign the Borrowing Subsidiary Agreement and the other Loan
  Documents to which such Subsidiary is becoming a party, upon which
  certificate the Administrative Agent and the Lenders shall be entitled to
  rely until informed of any change in writing by the Company or such
  Subsidiary;

	
 

	
 

	
 

	
          (c)
  Opinions of counsel to such Subsidiary, in form and substance reasonably
  satisfactory to the Administrative Agent and its counsel, with respect to the
  laws of its jurisdiction of organization and such other matters as are
  reasonably requested by counsel to the Administrative Agent and addressed to
  the Administrative Agent and the Lenders.

	
 

	
 

	
 

	
          (d)
  Any promissory notes requested by any Lender, and any other instruments and
  documents reasonably requested by the Administrative Agent.

ARTICLE V

Affirmative Covenants

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

                    SECTION
5.01. Financial Statements and Other Information. The Company will
furnish to the Administrative Agent and each Lender:

	
 

	
 

	
 

	
          (a)
  within ninety (90) days after the end of each fiscal year of the Company, its
  audited consolidated balance sheet and related statements of operations,
  stockholders’ equity and cash flows as of the end of and for such year,
  setting forth in each case in comparative form the figures for the previous
  fiscal year, all reported on by KPMG LLP or other independent public
  accountants of recognized national standing (without a “going concern” or
  like qualification or exception and without any qualification or exception as
  to the scope of such audit) to the effect that such consolidated financial
  statements present fairly in all material respects the financial condition
  and results of operations of the Company and its consolidated Subsidiaries on
  a consolidated basis in accordance with GAAP consistently applied;

	
 

	
 

	
 

	
          (b)
  within forty five (45) days after the end of each of the first three fiscal
  quarters of each fiscal year of the Company, its consolidated balance sheet
  and related statements of operations, stockholders’ equity and cash flows as
  of the end of and for such fiscal quarter and the then elapsed portion of the
  fiscal year, setting forth in each case in comparative form the figures for
  the corresponding period or periods of (or, in the case of the balance sheet,
  as of the end of) the previous fiscal year, all certified by one of its
  Financial Officers as presenting fairly in all material respects the financial
  condition and results of operations of the Company and its consolidated
  Subsidiaries on a consolidated basis in accordance with GAAP consistently
  applied, subject to normal year-end audit adjustments and the absence of
  footnotes;

	
 

	
 

	
 

	
          (c)
  concurrently with any delivery of financial statements under clause (a) or
  (b) above, a certificate of a Financial Officer of the Company (i) certifying
  as to whether a Default has occurred and, if a Default has occurred,
  specifying the details thereof and any action taken or 

43

	
 

	
 

	
 

	
proposed to
  be taken with respect thereto, (ii) setting forth reasonably detailed
  calculations demonstrating compliance with Section 6.10 and (iii) stating
  whether any change in GAAP or in the application thereof has occurred since
  the date of the audited financial statements referred to in Section 3.04 and,
  if any such change has occurred, specifying the effect of such change on the
  financial statements accompanying such certificate;

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (f)
  promptly following any request therefor, such other information regarding the
  operations, business affairs and financial condition of the Company or any
  Subsidiary, or compliance with the terms of this Agreement, as the
  Administrative Agent or any Lender may reasonably request.

All financial
statements and reports referred to in Sections 5.01(a) and (b) shall be deemed
to have been delivered upon the date on which such documents are filed for
public availability on the U.S. Securities and Exchange Commission’s Electronic
Data Gathering and Retrieval System and the receipt by the Administrative Agent
of electronic notice from the Company with a link to such financial statements
and reports.

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

	
 

	
 

	
 

	
          (a)
  the occurrence of any Default;

	
 

	
 

	
 

	
          (b)
  the filing or commencement of any action, suit or proceeding by or before any
  arbitrator or Governmental Authority against or affecting the Company or any
  Affiliate thereof that, if adversely determined, could reasonably be expected
  to result in a Material Adverse Effect;

	
 

	
 

	
 

	
          (c)
  the occurrence of any ERISA Event that, alone or together with any other
  ERISA Events that have occurred, could reasonably be expected to result in a
  Material Adverse Effect; and

	
 

	
 

	
 

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

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

                    SECTION
5.03. Existence; Conduct of Business. The Company will, and will cause
each of its Subsidiaries to, do or cause to be done all things necessary to preserve,
renew and keep in full

44

force and
effect its legal existence and the rights, licenses, permits, privileges and
franchises material to the conduct of its business; provided that the foregoing
shall not prohibit any merger, consolidation, liquidation or dissolution
permitted under Section 6.03. 

                    SECTION
5.04. Payment of Obligations. The Company will, and will cause each of
its Subsidiaries to, pay its obligations, including Tax liabilities, that, if
not paid, could result in a Material Adverse Effect before the same shall
become delinquent or in default, except where (a) the validity or amount
thereof is being contested in good faith by appropriate proceedings, (b) the
Company or such Subsidiary has set aside on its books adequate reserves with
respect thereto in accordance with GAAP and (c) the failure to make payment
pending such contest could not reasonably be expected to result in a Material
Adverse Effect.

                    SECTION
5.05. Maintenance of Properties; Insurance. The Company will, and will
cause each of its Subsidiaries to, (a) keep and maintain all property material
to the conduct of its business in good working order and condition, ordinary
wear and tear excepted, and (b) maintain, with financially sound and reputable
insurance companies, insurance in such amounts and against such risks as are
customarily maintained by companies engaged in the same or similar businesses
operating in the same or similar locations.

                    SECTION
5.06. Books and Records; Inspection Rights. The Company will, and will
cause each of its Subsidiaries to, keep proper books of record and account in
which full, true and correct entries are made of all dealings and transactions
in relation to its business and activities. The Company will, and will cause
each of its Subsidiaries to, permit any representatives designated by the
Administrative Agent or any Lender, upon reasonable prior notice, to visit and
inspect its properties, to examine and make extracts from its books and records,
and to discuss its affairs, finances and condition with its officers and
independent accountants, all at such reasonable times and as often as
reasonably requested.

                    SECTION
5.07. Compliance with Laws. The Company will, and will cause each of its
Subsidiaries to, (i) comply with all laws, rules, regulations and orders of any
Governmental Authority applicable to it or its property (including without
limitation Environmental Laws) and (ii) perform in all material respects its
obligations under material agreements to which it is a party, in each case
except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect.

                    SECTION
5.08. Use of Proceeds. The proceeds of the Loans will be used only to
repay certain existing Indebtedness, finance the working capital needs, and for
general corporate purposes, of the Company and its Subsidiaries in the ordinary
course of business, (including acquisitions, dividends and share repurchases,
all to the extent permitted hereunder). No part of the proceeds of any Loan
will be used, whether directly or indirectly, for any purpose that entails a
violation of any of the Regulations of the Board, including Regulations T, U
and X.

                    SECTION
5.09. Subsidiary Guaranty. As promptly as possible but in any event
within thirty (30) days (or such later date as may be agreed upon by the
Administrative Agent) after any Person becomes a Subsidiary or any Subsidiary
qualifies independently as, or is designated by the Company or the
Administrative Agent as, a Subsidiary Guarantor pursuant to the definition of
“Material Subsidiary”, the Company shall provide the Administrative Agent with
written notice thereof setting forth information in reasonable detail
describing the material assets of such Person and shall cause each such
Subsidiary which also qualifies as a Subsidiary Guarantor to deliver to the
Administrative Agent a joinder to the Subsidiary Guaranty in the form
contemplated thereby pursuant to which such Subsidiary agrees to be bound by
the terms and provisions of thereof, such Subsidiary Guaranty to be accompanied
by

45

appropriate corporate resolutions, other corporate
documentation and legal opinions in form and substance reasonably satisfactory
to the Administrative Agent and its counsel.

                    SECTION
5.10.  Pledge Agreements.  The Company shall execute or cause to be
executed, by no later than sixty days (or such later date as is agreed to by
the Administrative Agent in its reasonable discretion) after the date on which
any Material Subsidiary which is a First Tier Foreign Subsidiary which would,
but for its status as an Affected Foreign Subsidiary, qualify as a Subsidiary
Guarantor, a Pledge Agreement in favor of the Administrative Agent for the
benefit of the Secured Parties with respect to the Applicable Pledge Percentage
of all of the outstanding Equity Interests of such Material Subsidiary; provided
that no such pledge of the Equity Interests of a First Tier Foreign Subsidiary
shall be required hereunder to the extent such pledge is prohibited by
applicable law or the Administrative Agent and its counsel reasonably determine
that, in light of the cost and expense associated therewith, such pledge would
not provide material Pledged Equity for the benefit of the Secured Parties
pursuant to legally binding, valid and enforceable Pledge Agreements.  The Company further agrees to deliver to the
Administrative Agent all such Pledge Agreements, together with appropriate
corporate resolutions and other documentation (including legal opinions, the
stock certificates representing the Equity Interests subject to such pledge,
stock powers with respect thereto executed in blank, and such other documents
as shall be reasonably requested to perfect the Lien of such pledge) in each
case in form and substance reasonably satisfactory to the Administrative Agent,
and in a manner that the Administrative Agent shall be reasonably satisfied
that it has a first priority perfected pledge of or charge over the Pledged
Equity related thereto.  Notwithstanding
the foregoing, the parties hereto acknowledge and agree that no Pledge Agreement
in respect of the pledge of Equity Interests of a Material Subsidiary which is
a First Tier Foreign Subsidiary shall be required until August 20, 2007 (or
such later date as is agreed to by the Administrative Agent in its reasonable
discretion).

ARTICLE VI

Negative Covenants

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

                    SECTION
6.01.  Indebtedness.  The Company will not, and will not permit
any Subsidiary to, create, incur, assume or permit to exist any Indebtedness,
except:

	
   

  	
   

  
	
   

  	
            (a)  the Obligations and any other Indebtedness
  created under the Loan Documents;

  
	
   

  	
   

  
	
   

  	
          (b)  Indebtedness existing on the date hereof
  and set forth in Schedule 6.01 and extensions, renewals and replacements of
  any such Indebtedness with Indebtedness of a similar type that does not
  increase the outstanding principal amount thereof;

  
	
   

  	
   

  
	
   

  	
            (c)  Indebtedness of (i) any Loan Party to any
  other Loan Party, (ii) any Subsidiary to any Loan Party and (iii) any
  Subsidiary that is not a Loan Party to any other Subsidiary that is not a
  Loan Party;

  
	
   

  	
   

  
	
   

  	
          (d)  Guarantees by the Company of Indebtedness
  of any Subsidiary and by any Subsidiary of Indebtedness of the Company or any
  other Subsidiary;

  

46

	
   

  	
   

  
	
   

  	
          (e)  Indebtedness of the Company or any
  Subsidiary incurred to finance the acquisition, construction or improvement
  of any fixed or capital assets, including Capital Lease Obligations and any
  Indebtedness assumed in connection with the acquisition of any such assets or
  secured by a Lien on any such assets prior to the acquisition thereof, and
  extensions, renewals and replacements of any such Indebtedness that do not
  increase the outstanding principal amount thereof; provided that (i)
  such Indebtedness is incurred prior to or within 90 days after such
  acquisition or the completion of such construction or improvement and (ii)
  the aggregate principal amount of Indebtedness permitted by this clause (e)
  shall not exceed $15,000,000 at any time outstanding;

  
	
   

  	
   

  
	
   

  	
          (f)  Indebtedness of the Company or any
  Subsidiary incurred pursuant to Permitted Receivables Facilities; provided
  that the Attributable Receivables Indebtedness thereunder shall not exceed an
  aggregate amount of $100,000,000 at any time outstanding;

  
	
   

  	
   

  
	
   

  	
            (g)  Indebtedness of the Company or any
  Subsidiary as an account party in respect of trade letters of credit; 

  
	
   

  	
   

  
	
   

  	
            (h)  Indebtedness of Foreign Subsidiaries which
  are not Borrowers in an aggregate principal amount not exceeding $15,000,000
  at any time outstanding;

  
	
   

  	
   

  
	
   

  	
            (i)  Indebtedness under Swap Agreements
  permitted by Section 6.05; and

  
	
   

  	
   

  
	
   

  	
          (j)  other Indebtedness of the Company and
  Domestic Subsidiaries; provided that the aggregate principal amount of
  Indebtedness of Domestic Subsidiaries which are not Subsidiary Guarantors
  permitted by this clause (j) shall not exceed $15,000,000 at any time
  outstanding.

  

                    SECTION
6.02.  Liens.  The Company will not, and will not permit
any Subsidiary to, create, incur, assume or permit to exist any Lien on any
property or asset now owned or hereafter acquired by it, or assign or sell any
income or revenues (including accounts receivable) or rights in respect of any
thereof, except:

	
   

  	
   

  
	
   

  	
            (a)  Permitted Encumbrances and Liens created
  under the Pledge Agreements;

  
	
   

  	
   

  
	
   

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

  
	
   

  	
   

  
	
   

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

  
	
   

  	
   

  
	
   

  	
          (d)  Liens on fixed or capital assets acquired,
  constructed or improved by the Company or any Subsidiary; provided
  that (i) such security interests secure Indebtedness permitted by 

  

47

	
   

  	
   

  
	
   

  	
clause (e) of Section 6.01, (ii) such
  security interests and the Indebtedness secured thereby are incurred prior to
  or within ninety (90) days after such acquisition or the completion of
  such construction or improvement, (iii) the Indebtedness secured thereby
  does not exceed 90% (100% in the case of a Capital Lease Obligation) of the
  cost of acquiring, constructing or improving such fixed or capital assets and
  (iv) such security interests shall not apply to any other property or
  assets of the Company or any Subsidiary;

  
	
   

  	
   

  
	
   

  	
          (e)  customary bankers’ Liens and rights of
  setoff arising by operation of law and incurred on deposits made in the
  ordinary course of business; 

  
	
   

  	
   

  
	
   

  	
            (f)  Liens arising under Permitted Receivables
  Facilities; and

  
	
   

  	
   

  
	
   

  	
            (g)  Liens securing Indebtedness and other
  obligations in an amount not exceeding $15,000,000 at any time outstanding.

  

                    SECTION
6.03.  Fundamental Changes
and Asset Sales.  (a)
The Company will not, and will not permit any Subsidiary to, merge into or
consolidate with any other Person, or permit any other Person to merge into or
consolidate with it, or sell, transfer, lease or otherwise dispose of (in one
transaction or in a series of transactions) any of its assets, (including
pursuant to a Sale and Leaseback Transaction), or all or any of the Equity
Interests of any of its Subsidiaries (in each case, whether now owned or
hereafter acquired), or liquidate or dissolve, except that, if at the time thereof
and immediately after giving effect thereto no Default shall have occurred and
be continuing (i) any Person may merge into the Company in a transaction in
which the Company is the surviving corporation, (ii) any Subsidiary may merge
into another Subsidiary; provided that in the case of any merger
involving a Loan Party such merger must result in a Loan Party as the surviving
entity (and any such merger involving the Company must result in the Company as
the surviving entity), (iii) any Loan Party may sell, transfer, lease or
otherwise dispose of its assets to another Loan Party and any Subsidiary that
is not a Loan Party may sell, transfer, lease or otherwise dispose of its
assets to any other Subsidiary, (iv) the Company or any Subsidiary may sell Receivables
under Permitted Receivables Facilities (subject to the limitation that the
Attributable Receivables Indebtedness thereunder shall not exceed an aggregate
amount of $100,000,000) and (v) the Company and its Subsidiaries may (A) sell
inventory in the ordinary course of business, (B) effect sales, trade-ins or
dispositions of used equipment for value in the ordinary course of business
consistent with past practice, (C) enter into licenses of technology in the
ordinary course of business, (D) enter into Sale and Leaseback Transactions
permitted by Section 6.09, and (E) make any other sales, transfers, leases or
dispositions that, together with all other property of the Company and its
Subsidiaries previously leased, sold or disposed of as permitted by this clause
(E) during any fiscal year of the Company, does not exceed 10% of Consolidated
Total Assets (as reflected in the most recent consolidated balance sheet of the
Company delivered to the Lenders) and (vi) any Subsidiary may liquidate or
dissolve if the Company determines in good faith that such liquidation or
dissolution is in the best interests of the Company and is not materially
disadvantageous to the Lenders; provided that any such merger involving
a Person that is not a wholly owned Subsidiary immediately prior to such merger
shall not be permitted unless also permitted by Section 6.04.

                    (b)
The Company will not, and will not permit
any of its Subsidiaries to, engage to any material extent in any business other
than businesses of the type conducted by the Company and its Subsidiaries on
the date of execution of this Agreement and businesses reasonably related
thereto.

                    (c)
The Company will not, and will not permit
any of its Subsidiaries to, change the basis of its fiscal year from the basis
in effect on the Effective Date.

48

                    SECTION
6.04.  Investments, Loans,
Advances, Guarantees and Acquisitions.  The Company will not, and will not permit
any of its Subsidiaries to, purchase, hold or acquire (including pursuant to
any merger with any Person that was not a wholly owned Subsidiary prior to such
merger) any capital stock, evidences of indebtedness or other securities
(including any option, warrant or other right to acquire any of the foregoing)
of, make or permit to exist any loans or advances to, Guarantee any obligations
of, or make or permit to exist any investment or any other interest in, any
other Person, or purchase or otherwise acquire (in one transaction or a series
of transactions) any Person or any assets of any other Person constituting a
business unit, except 

                    (a)
Permitted Investments;

                    (b)
investments by the Company existing on the
date hereof in the capital stock of its Subsidiaries;

                    (c)
loans and advances constituting Indebtedness
permitted by Section 6.01(c) and additional investments and capital
contributions made by the Company in the Equity Interests of any Subsidiary
(provided that not more than $15,000,000 in investments or capital
contributions may be made, during the term of this Agreement, by any Loan Party
to a Subsidiary which is not a Loan Party).

                    (d)
Guarantees constituting Indebtedness
permitted by Section 6.01;

                    (e)
Permitted Acquisitions; and 

                    (f)
any other investment, loan or advance
(other than acquisitions) so long as the aggregate amount of all such
investments does not exceed $25,000,000 during the term of this Agreement.

                    SECTION
6.05.  Swap Agreements.  The Company will not, and will not permit
any of its Subsidiaries to, enter into any Swap Agreement, except (a) Swap
Agreements entered into to hedge or mitigate risks to which the Company or any
Subsidiary has actual or anticipated exposure (other than those in respect of
Equity Interests of the Company or any of its Subsidiaries), and (b) Swap
Agreements entered into in order to effectively cap, collar or exchange
interest rates (from fixed to floating rates, from one floating rate to another
floating rate or otherwise) with respect to any interest-bearing liability or
investment of the Company or any Subsidiary.

                    SECTION
6.06.  Restricted Payments.  The Company will not, and will not permit any
of its Subsidiaries to, declare or make, or agree to pay or make, directly or
indirectly, any Restricted Payment, except (a) the Company may declare and pay
dividends with respect to its Equity Interests payable solely in additional
shares of its common stock, (b) Subsidiaries may declare and pay dividends
ratably with respect to their Equity Interests, (c) the Company may make
Restricted Payments pursuant to and in accordance with stock option plans or
other benefit plans for management or employees of the Company and its
Subsidiaries and (d) the Company may make any other Restricted Payment so long
as no Default or Event of Default has occurred and is continuing prior to
making such Restricted Payment or would arise after giving effect thereto
(including pro forma effect); provided that, if, as of the date of
making such Restricted Payment (and after giving pro forma effect thereto) the
Leverage Ratio for the Company and its consolidated Subsidiaries would exceed
2.50 to 1.00, then the aggregate amount of Restricted Payments permitted
pursuant to this clause (d) shall not exceed $50,000,000 during any fiscal year
of the Company.

                    SECTION
6.07.  Transactions with Affiliates.  The Company will not, and will not permit
any of its Subsidiaries to, sell, lease or otherwise transfer any property or
assets to, or purchase, 

49

lease or otherwise acquire any property or assets
from, or otherwise engage in any other transactions with, any of its
Affiliates, except (a) in the ordinary course of business at prices and on
terms and conditions not less favorable to the Company or such Subsidiary than
could be obtained on an arm’s-length basis from unrelated third parties, (b)
transactions between or among the Company and its wholly owned Subsidiaries not
involving any other Affiliate and (c)
any Restricted Payment permitted by Section 6.06.

                    SECTION
6.08.  Restrictive Agreements.  The Company will not, and will not permit
any of its Subsidiaries to, directly or indirectly, enter into, incur or permit
to exist any agreement or other arrangement that prohibits, restricts or
imposes any condition upon (a) the ability of the Company or any Subsidiary to
create, incur or permit to exist any Lien in favor of the Administrative Agent
upon any of its property or assets, or (b) the ability of any Subsidiary to pay
dividends or other distributions with respect to holders of its Equity
Interests or to make or repay loans or advances to the Company or any other
Subsidiary or to Guarantee Indebtedness of the Company or any other Subsidiary;
provided that (i) the foregoing shall not apply to restrictions and conditions
imposed by law or by this Agreement, (ii) the foregoing shall not apply to
restrictions and conditions existing on the date hereof identified on Schedule
6.08 (but shall apply to any extension or renewal of, or any amendment or
modification expanding the scope of, any such restriction or condition) or
existing at the time of any acquisition, (iii) the foregoing shall not apply to
customary restrictions and conditions contained in agreements relating to a
Permitted Receivables Facility or the sale of a Subsidiary pending such sale,
provided such restrictions and conditions apply only to the Subsidiary that is
to be sold and such sale is not prohibited hereunder, (iv) the foregoing shall
not apply to restrictions and conditions imposed by any agreement relating to
Indebtedness permitted by Section 6.01(h), (v) clause (a) of the foregoing
shall not apply to restrictions or conditions imposed by any agreement relating
to secured Indebtedness permitted by this Agreement if such restrictions or
conditions apply only to the property or assets securing such Indebtedness and
(vi) clause (a) of the foregoing shall not apply to customary provisions in
leases and other contracts restricting the assignment thereof.

                    SECTION
6.09.  Sale and Leasebacks.  The Company
shall not, nor shall it permit any Subsidiary to, enter into any Sale and
Leaseback Transaction except for (i) the sale and leaseback of its Maple Grove,
Minnesota facility, (ii) the sale and leaseback of its Uden, Netherlands
facility, and (iii) the sale and leaseback of equipment of a type manufactured
or sold by the Company.

                    SECTION
6.10.  Financial Covenants.

                    (a)
Maximum Leverage Ratio.   The Company will not permit the ratio (the
“Leverage Ratio”), determined as of the end of each of its fiscal
quarters ending on and after June 30, 2007, of (i) Consolidated Total
Indebtedness to (ii) Consolidated EBITDA for the period of 4 consecutive fiscal
quarters ending with the end of such fiscal quarter, all calculated for the
Company and its Subsidiaries on a consolidated basis, to be greater than 3.50
to 1.00.

                    (b)
Minimum Interest Coverage Ratio.  The Company will not permit the ratio,
determined as of the end of each of its fiscal quarters ending on and after
June 30, 2007, of (i) Consolidated EBITDA for the period of 4 consecutive
fiscal quarters ending with the end of such fiscal quarter to (ii) Consolidated
Interest Expense for such period, all calculated for the Company and its
Subsidiaries on a consolidated basis, to be less than 3.50 to 1.00.

50

ARTICLE
VII

Events of Default

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

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

                    (b)
any Borrower shall fail to pay any interest
on any Loan or any fee or any other amount (other than an amount referred to in
clause (a) of this Article) payable under this Agreement, when and as the same
shall become due and payable, and such failure shall continue unremedied for a
period of three (3) Business Days;

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

                    (d)
(i) the Company shall fail to observe or
perform any covenant, condition or agreement contained in Section 5.02, 5.03
(solely with respect to any Borrower’s existence), 5.08, 5.09 or 5.10, or in
Article VI or (ii) Article X or any Loan Document shall for any reason not be
or shall cease to be in full force and effect or is declared to be null and
void, or the Company or any Subsidiary takes any action for the purpose of
terminating, repudiating or rescinding any Loan Document or any of its
obligations thereunder;

                    (e)
any Borrower or any Subsidiary Guarantor, as
applicable, shall fail to observe or perform any covenant, condition or
agreement contained in this Agreement (other than those specified in clause
(a), (b) or (d) of this Article) or any other Loan Document, and such failure
shall continue unremedied for a period of thirty (30) days after notice thereof
from the Administrative Agent to the Company (which notice will be given at the
request of any Lender);

                    (f)
the Company or any Subsidiary shall fail to
make any payment (whether of principal or interest and regardless of amount) in
respect of any Material Indebtedness, when and as the same shall become due and
payable, beyond the period of grace, if any but in no event beyond five (5)
Business Days, provided in the instrument or document under which such
Indebtedness was created;

                    (g)
any event or condition occurs that results
in any Material Indebtedness becoming due prior to its scheduled maturity or
that enables or permits (with or without the giving of notice, the lapse of
time or both) the holder or holders of any Material Indebtedness or any trustee
or agent on its or their behalf to cause any Material Indebtedness to become
due, or to require the prepayment, repurchase, redemption or defeasance
thereof, prior to its scheduled maturity; provided that this clause
(g) shall not apply to secured Indebtedness that becomes due as a result of the
voluntary sale or transfer of the property or assets securing such
Indebtedness;

                    (h)
an involuntary proceeding shall be commenced
or an involuntary petition shall be filed seeking (i) liquidation,
reorganization or other relief in respect of the Company or any Subsidiary or
its debts, or of a substantial part of its assets, under any  Federal, state or foreign bankruptcy,
insolvency, 

51

receivership or similar law now or hereafter in effect
or (ii) the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for the Company or any Subsidiary or for a
substantial part of its assets, and, in any such case, such proceeding or
petition shall continue undismissed for 60 days or an order or decree approving
or ordering any of the foregoing shall be entered;

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

                    (j)
the Company or any Subsidiary shall become
unable, admit in writing its inability or fail generally to pay its debts as
they become due;

                    (k)
one or more judgments for the payment of
money in an aggregate amount in excess of $15,000,000 shall be rendered against
the Company, any Subsidiary or any combination thereof and the same shall
remain undischarged for a period of 30 consecutive days during which execution
shall not be effectively stayed, or any action shall be legally taken by a
judgment creditor to attach or levy upon any assets of the Company or any
Subsidiary to enforce any such judgment;

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

                    (m)
a Change in Control shall occur;

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

                    Any
proceeds of Pledged Equity received by the Administrative Agent after an Event
of Default has occurred and is continuing and the Administrative Agent so
elects or the Required Lenders so direct, such funds shall be applied ratably first,
to pay any fees, indemnities, or expense reimbursements including amounts then
due to the Administrative Agent and the Issuing Bank from the Loan Parties, second,
to pay any fees or expense reimbursements then due to the Lenders from the Loan
Parties, third,
to pay interest then due and payable on the Loans ratably, fourth,
on a ratable basis, to prepay principal on 

52

the Loans and unreimbursed LC Disbursements,to pay an amount to the Administrative
Agent equal to one hundred five percent (105%) of the aggregate undrawn face
amount of all outstanding Letters of Credit and the aggregate amount of any
unpaid LC Disbursements to be held as cash collateral for such Obligations, to
payment of any amounts owing with respect to Banking Services Obligations and
Swap Obligations, and fifth, to the payment of any other Obligation due to
the Administrative Agent or any Lender by the Loan Parties.  The Administrative Agent and the Lenders
shall have the continuing and exclusive right to apply and reverse and reapply
any and all such proceeds and payments to any portion of the Obligations.

ARTICLE
VIII

The Administrative Agent

                    Each
of the Lenders and the Issuing Bank hereby irrevocably appoints the
Administrative Agent as its agent and authorizes the Administrative Agent to
take such actions on its behalf 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 Company 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 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 9.02), 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 Company or any of its
Subsidiaries that is communicated to or obtained by the bank serving as
Administrative Agent or any of its Affiliates in any capacity.  The Administrative Agent shall not be liable
for any action taken or not taken by it with the consent or at the request of
the Required Lenders (or such other number or percentage of the Lenders as
shall be necessary under the circumstances as provided in Section 9.02) or in
the absence of its own gross negligence or willful misconduct.  The Administrative Agent shall be deemed not
to have knowledge of any Default unless and until written notice thereof is
given to the Administrative Agent by the Company 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, (ii) the contents of any certificate, report or
other document delivered hereunder or in connection herewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or
conditions set forth herein, (iv) the validity, enforceability, effectiveness
or genuineness of this Agreement or any other agreement, instrument or
document, (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 or (vi) the creation, perfection or
priority of Liens on the Pledged Equity or the existence of the Pledged Equity.

53

                    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 Company), 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 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 Issuing Bank and the Company.  Upon any such resignation, the Required
Lenders shall have the right, with the approval of the Company (such approval
not to be unreasonably withheld or delayed), to appoint a successor.  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 Issuing
Bank, 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.  Upon the acceptance of its appointment as
Administrative Agent hereunder by a successor, such successor shall succeed to
and become vested with all the rights, powers, privileges and duties of the
retiring Administrative Agent, and the retiring Administrative Agent shall be
discharged from its duties and obligations hereunder.  The fees payable by any Borrower to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise
agreed between such Borrower and such successor.  After the Administrative Agent’s resignation hereunder, the
provisions of this Article and Section 9.03 shall continue in effect for the
benefit of such retiring Administrative Agent, its sub-agents and their
respective Related Parties in respect of any actions taken or omitted to be
taken by any of them while it was acting as Administrative Agent.

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

                    None
of the Lenders, if any, identified in this Agreement as a Syndication Agent or
Co-Documentation Agent shall have any right, power, obligation, liability,
responsibility or duty under this Agreement other than those applicable to all
Lenders as such.  Without limiting the
foregoing, none of such Lenders shall have or be deemed to have a fiduciary
relationship with any Lender.  Each
Lender hereby makes the same acknowledgments with respect to the relevant
Lenders in their respective capacities as Syndication Agent or Co-Documentation
Agents, as applicable, as it makes with respect to the Administrative Agent in
the preceding paragraph.

54

                    In
its capacity, the Administrative Agent is a “representative” of the Secured
Parties within the meaning of the term “secured party” as defined in the New
York Uniform Commercial Code.  Each
Lender authorizes the Administrative Agent to enter into each of the Pledge
Agreements to which it is a party and to take all action contemplated by such
documents.  Each Lender agrees that no
Secured Parties (other than the Administrative Agent) shall have the right
individually to seek to realize upon the security granted by any Pledge
Agreement, it being understood and agreed that such rights and remedies may be
exercised solely by the Administrative Agent for the benefit of the Secured
Parties upon the terms of the Pledge Agreements.  In the event that any Pledged Equity is hereafter pledged by any
Person as collateral security for the Secured Obligations, the Administrative
Agent is hereby authorized, and hereby granted a power of attorney, to execute
and deliver on behalf of the Secured Parties any Loan Documents necessary or
appropriate to grant and perfect a Lien on such Pledged Equity in favor of the
Administrative Agent on behalf of the Secured Parties.  The Lenders hereby authorize the
Administrative Agent, at its option and in its discretion, to release any Lien
granted to or held by the Administrative Agent upon any Pledged Equity (i) as
permitted by, but only in accordance with, the terms of the applicable Loan
Document; or (ii) if approved, authorized or ratified in writing by the
Required Lenders, unless such release is required to be approved by all of the
Lenders hereunder.  Upon request by the
Administrative Agent at any time, the Lenders will confirm in writing the Administrative
Agent’s authority to release particular types or items of Pledged Equity
pursuant hereto.  Upon any sale or
transfer of assets constituting Pledged Equity which is permitted pursuant to
the terms of any Loan Document, or consented to in writing by the Required
Lenders or all of the Lenders, as applicable, and upon at least five Business
Days’ prior written request by the Company to the Administrative Agent, the
Administrative Agent shall (and is hereby irrevocably authorized by the Lenders
to) execute such documents as may be necessary to evidence the release of the
Liens granted to the Administrative Agent for the benefit of the Secured
Parties herein or pursuant hereto upon the Pledged Equity that was sold or
transferred; provided, however, that (i) the
Administrative Agent shall not be required to execute any such document on
terms which, in the Administrative Agent’s opinion, would expose the
Administrative Agent to liability or create any obligation or entail any
consequence other than the release of such Liens without recourse or warranty,
and (ii) such release shall not in any manner discharge, affect or impair the
Secured Obligations or any Liens upon (or obligations of the Company or any
Subsidiary in respect of) all interests retained by the Company or any
Subsidiary, including (without limitation) the proceeds of the sale, all of
which shall continue to constitute part of the Pledged Equity.

                    In
connection with a Foreign Subsidiary Borrower organized under the laws of England
and Wales (a “UK Borrower”), each Lender (i) irrevocably appoints the
Administrative Agent to act as syndicate manager under, and authorizes the
Administrative Agent to operate, and take any action necessary or desirable
under, the Provisional Treaty Relief scheme as described in the United
Kingdom’s Inland Revenue Guidelines dated January 2003 and administered by the
United Kingdom’s H.M. Revenue & Custom’s Centre for Non-Residents (the “PTR
Scheme”) in connection with this Agreement, (ii) shall co-operate with the
Administrative Agent in completing any procedural formalities necessary under
the PTR Scheme, and shall promptly supply to the Administrative Agent such
information as the Administrative Agent may request in connection with the
operation of the PTR Scheme and (iii) without limiting the liability of any UK
Borrower under this Agreement, shall, within 5 Business Days of demand,
indemnify the Administrative Agent for any liability or loss incurred by the
Administrative Agent as a result of the Administrative Agent acting as
syndicate manager under the PTR Scheme in connection with such Lender’s
participation in any Loan (except to the extent that the liability or loss
arises directly from the Administrative Agent’s gross negligence or willful misconduct).  Each UK Borrower acknowledges that
it is
fully aware of its contingent obligations under the PTR Scheme and shall
promptly supply to the Administrative Agent such information as the
Administrative Agent may request in connection with the operation of the PTR
Scheme and act in accordance with any provisional notice issued by the UK
Inland Revenue under the PTR Scheme.
The Administrative Agent agrees to provide, as soon as reasonably
practicable, a copy of any provisional authority issued to it under the PTR
Scheme in connection with any 

55

Loan to any UK Borrower.  All parties hereto acknowledge that (i) the Administrative Agent
is entitled to rely completely upon information provided to it in connection
with this paragraph, (ii) is not obliged to undertake any enquiry into the
accuracy of such information, nor into the taxation status of any Lender or, as
the case may be, any UK Borrower providing such information and (iii) shall
have no liability to any person for the accuracy of any information it submits
in connection with this paragraph.

                    Each
Borrower, on its behalf and on behalf of its Subsidiaries, and each Lender, on
its behalf and on the behalf of its affiliated Secured Parties, hereby
irrevocably constitute the Administrative Agent as the holder of an irrevocable
power of attorney (fondé de pouvoir within the meaning of
Article 2692 of the Civil Code of Québec) in order to hold hypothecs and
security granted by each Borrower or any Subsidiary on property pursuant to the
laws of the Province of Quebec to secure obligations of any Borrower or any
Subsidiary under any bond, debenture or similar title of indebtedness issued by
any Borrower or any Subsidiary in connection with this Agreement, and agree
that the Administrative Agent may act as the bondholder and mandatary with
respect to any bond, debenture or similar title of indebtedness that may be
issued by any Borrower or any Subsidiary and pledged in favor of the Secured
Parties in connection with this Agreement.
Notwithstanding the provisions of Section 32 of the An Act respecting
the special powers of legal persons (Quebec), JPMorgan Chase Bank, National
Association as Administrative Agent may acquire and be the holder of any bond
issued by any Borrower or any Subsidiary in connection with this Agreement
(i.e., the fondé
de pouvoir may acquire and hold the first bond issued under any deed
of hypothec by any Borrower or any Subsidiary).

                    The
Administrative Agent is hereby authorized to execute and deliver any documents
necessary or appropriate to create and perfect the rights of pledge for the
benefit of the Secured Parties including a right of pledge with respect to the
entitlements to profits, the balance left after winding up and the voting rights
of the Company as ultimate parent of any subsidiary of the Company which is
organized under the laws of the Netherlands and the Equity Interests of which
are pledged in connection herewith (a “Dutch Pledge”).  Without prejudice to the provisions of this
Agreement and the other Loan Documents, the parties hereto acknowledge and
agree with the creation of parallel debt obligations of the Company or any
relevant Subsidiary as will be described in any Dutch Pledge (the “Parallel
Debt”), including that any payment received by the Administrative Agent in
respect of the Parallel Debt will - conditionally upon such payment not
subsequently being avoided or reduced by virtue of any provisions or enactments
relating to bankruptcy, insolvency, preference, liquidation or similar laws of
general application - be deemed a satisfaction of a pro rata portion of the
corresponding amounts of the Obligations, and any payment to the Secured
Parties in satisfaction of the Obligations shall - conditionally upon such
payment not subsequently being avoided or reduced by virtue of any provisions
or enactments relating to bankruptcy, insolvency, preference, liquidation or
similar laws of general application - be deemed as satisfaction of the
corresponding amount of the Parallel Debt.
The parties hereto acknowledge and agree that, for purposes of a Dutch
Pledge, any resignation by the Administrative Agent is not effective until its
rights under the Parallel Debt are assigned to the successor Administrative
Agent.

                    The
Administrative Agent shall administer any Pledge Agreement which is governed by
German law and is a pledge (Pfandrecht) or otherwise transferred to any
Secured Party under an accessory security right (akzessorische Sicherheit)
in the name and on behalf of the Secured Parties.  In relation to any Pledge Agreement governed by the laws of
Germany, each party hereby authorizes the Administrative Agent to accept as its
representative any pledge or other creation of any accessory security right
made to such party in relation to this Agreement and to agree to and execute on
its behalf as its representative amendments, supplements and other alterations
to any Pledge Agreement governed by the laws of Germany which creates a pledge
or any other accessory security right and to release on behalf of such party
any Pledge Agreement governed by the laws of Germany in accordance with the
provisions herein and/or the provisions in the relevant German law governed
pledge agreement.

56

ARTICLE
IX

Miscellaneous

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

	
   

  	
   

  
	
   

  	
          (i)  if to any Borrower, to it c/o Tennant
  Company, 701 North Lilac Drive, P.O. Box 1452, Minneapolis, Minnesota 55422,
  Attention of Tom Paulson, Chief Financial Officer (Telecopy No. (763)
  513-1811; Telephone No. (763) 540-1204);

  
	
   

  	
   

  
	
   

  	
          (ii)  if to the Administrative Agent, to (A) in
  the case of Borrowings by the Company denominated in Dollars, JPMorgan Chase
  Bank, National Association, 10 South Dearborn Street, 7th Floor, Chicago,
  Illinois 60603, Attention of Claudia Kech (Telecopy No. (312) 385-7041) and
  (B) in the case of Borrowings by any Foreign Subsidiary Borrower or
  denominated in Agreed Currencies other than Dollars, JPMorgan Europe Limited,
  125 London Wall, London EC2Y 5AJ, Attention of Lesley Pluck (Telecopy No.
  011-44207-777-2360), and in each case with a copy to JPMorgan Chase Bank,
  National Association, 131 South Dearborn Street, 6th Floor,
  Attention of Michael Kelly (Telecopy No. (312) 325-3239);

  
	
   

  	
   

  
	
   

  	
          (iii)  if to the Issuing Bank, to it at JPMorgan
  Chase Bank, National Association, 10 South Dearborn Street, 7th Floor,
  Chicago, Illinois 60603, Attention of Claudia Kech (Telecopy No. (312) 385-7041);

  
	
   

  	
   

  
	
   

  	
          (iv)  if to the Swingline Lender, to it at
  JPMorgan Chase Bank, National Association, 10 South Dearborn Street, 7th
  Floor, Chicago, Illinois 60603, Attention of Claudia Kech (Telecopy No. (312)
  385-7041); and

  
	
   

  	
   

  
	
   

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

  

                    (b)
Notices and other communications to the
Lenders hereunder may be delivered or furnished by electronic communications pursuant
to procedures approved by the Administrative Agent; provided that the foregoing
shall not apply to notices pursuant to Article II unless otherwise agreed by
the Administrative Agent and the applicable Lender.  The Administrative Agent or the Company 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.

                    (c)
Any party hereto may change its address or
telecopy number for notices and other communications hereunder by notice to the
other parties hereto.  All notices and
other communications given to any party hereto in accordance with the
provisions of this Agreement shall be deemed to have been given on the date of
receipt.

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

57

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

                    (b)
Neither this Agreement nor any provision
hereof may be waived, amended or modified except pursuant to an agreement or
agreements in writing entered into by the Borrowers and the Required Lenders or
by the Borrowers and the Administrative Agent with the consent of the Required
Lenders; provided that no such agreement shall (i) increase  the Commitment of any Lender without the
written consent of such Lender, (ii) reduce the principal amount of any Loan or
LC Disbursement or reduce the rate of interest thereon, or reduce any fees
payable hereunder, without the written consent of each Lender directly affected
thereby, (iii) postpone the scheduled date of payment of the principal amount
of any Loan or LC Disbursement, or any interest thereon, or any fees payable
hereunder, or reduce the amount of, waive or excuse any such payment, or postpone
the scheduled date of expiration of any Commitment, without the written consent
of each Lender directly affected thereby, (iv) change Section 2.18(b) or (c) in
a manner that would alter the pro rata sharing of payments required thereby,
without the written consent of each Lender, (v) change any of the provisions of
this Section or the definition of “Required Lenders” or any other provision
hereof specifying the number or percentage of Lenders required to waive, amend
or modify any rights hereunder or make any determination or grant any consent
hereunder, without the written consent of each Lender or (vi) release the
Company or all or substantially all of the Subsidiary Guarantors from their
obligations under Article X or the Subsidiary Guaranty or release all or
substantially all of the Pledged Equity, as applicable, without the written
consent of each Lender; provided further that no such
agreement shall amend, modify or otherwise affect the rights or duties of the
Administrative Agent, the Issuing Bank or the Swingline Lender hereunder
without the prior written consent of the Administrative Agent, the Issuing Bank
or the Swingline Lender, as the case may be.

                    SECTION
9.03.  Expenses; Indemnity;
Damage Waiver.
(a)  The Company 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 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 Issuing Bank in connection with the
issuance, amendment, renewal or extension of any Letter of Credit or any demand
for payment thereunder and (iii) all reasonable out-of-pocket expenses incurred
by the Administrative Agent, the Issuing Bank or any Lender, including the
fees, charges and disbursements of any counsel for the Administrative Agent,
the Issuing Bank or any Lender, in connection with the enforcement or
protection of its rights in connection with this Agreement, including its
rights under this Section, or in connection with the Loans made or Letters of
Credit issued hereunder, including all such out-of-pocket expenses incurred
during  any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit.

                    (b)
The Company shall indemnify the
Administrative Agent, the Issuing Bank and each Lender, and each Related Party
of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related expenses, including the fees, charges and
disbursements of any counsel for any

58

Indemnitee, incurred by or asserted against any Indemnitee
arising out of, in connection with, or as a result of (i) the execution or
delivery of this Agreement or any agreement or instrument contemplated hereby,
the performance by the parties hereto of their respective obligations hereunder
or the consummation of the Transactions or any other transactions contemplated
hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom
(including any refusal by the Issuing Bank to honor a demand for payment under
a Letter of Credit if the documents presented in connection with such demand do
not strictly comply with the terms of such Letter of Credit), (iii) any actual
or alleged presence or release of Hazardous Materials on or from any property
owned or operated by the Company or any of its Subsidiaries, or any
Environmental Liability related in any way to the Company 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 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 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 from the breach by
such Indemnitee of its obligations under the Loan Documents.

                    (c)
To the extent that the Company fails to pay
any amount required to be paid by it to the Administrative Agent, the Issuing
Bank or the Swingline Lender under paragraph (a) or (b) of this Section, each
Lender severally agrees to pay to the Administrative Agent, the Issuing Bank or
the Swingline Lender, as the case may be, such Lender’s Applicable Percentage
(determined as of the time that the applicable unreimbursed expense or
indemnity payment is sought) of such unpaid amount (it being understood that
the Borrower’s failure to pay any such amount shall not relieve the Borrower of
any default in the payment thereof); 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, the Issuing Bank or the Swingline Lender in its capacity
as such.

                    (d)
To the extent permitted by applicable law,
no Borrower shall assert, and each Borrower 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 or
thereby, the Transactions, any Loan or Letter of Credit or the use of the
proceeds thereof.

                    (e)
All amounts due under this Section shall be
payable not later than fifteen (15) days after written demand therefor.

                    SECTION
9.04.  Successors and
Assigns.  (a)  The provisions of this Agreement shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby (including any Affiliate of
the Issuing Bank that issues any Letter of Credit), except that (i) no Borrower
may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Lender (and any attempted assignment
or transfer by any Borrower without such consent shall be null and void) and
(ii) no Lender may assign or otherwise transfer its rights or obligations
hereunder except in accordance with this Section.  Nothing in this Agreement, expressed or implied, shall be
construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby (including any Affiliate of
the Issuing Bank that issues any Letter of Credit), Participants (to the extent
provided in paragraph (c) of this Section) and, to the extent expressly
contemplated hereby, the Related Parties of each of the Administrative Agent,
the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim
under or by reason of this Agreement.

59

	
   

  	
   

  	
   

  
	
   

  	
          (b)(i)
  Subject to the conditions set forth in paragraph (b)(ii) below, any Lender
  may assign to one or more assignees all or a portion of its rights and
  obligations under this Agreement (including all or a portion of its
  Commitment and the Loans at the time owing to it) with the prior written
  consent (such consent not to be unreasonably withheld) of:

  
	
   

  	
   

  	
   

  
	
   

  	
   

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

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
            (B)
  the Administrative Agent; and

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
            (C)
  the Issuing Bank.

  
	
   

  	
   

  	
   

  
	
   

  	
   

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

  
	
   

  	
   

  	
   

  
	
   

  	
   

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

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
          (B)
  each partial assignment shall be made as an assignment of a proportionate
  part of all the assigning Lender’s rights and obligations under this
  Agreement, provided that this clause shall not be construed to prohibit the
  assignment of a proportionate part of all the assigning Lender’s rights and
  obligations in respect of one Class of Commitments or Loans;

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
          (C)
  the parties to each assignment shall execute and deliver to the
  Administrative Agent an Assignment and Assumption, together with a processing
  and recordation fee of $3,500; and

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
          (D)
  the assignee, if it shall not be a Lender, shall deliver to the
  Administrative Agent an Administrative Questionnaire.

  

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

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

                    (iii)  Subject
to acceptance and recording thereof pursuant to paragraph (b)(iv) of this
Section, from and after the effective date specified in each Assignment and
Assumption the assignee thereunder shall be a party hereto and, to the extent
of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering 

60

all of the assigning Lender’s rights and obligations
under this Agreement, such Lender shall cease to be a party hereto but shall
continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and
9.03).  Any assignment or transfer by a
Lender of rights or obligations under this Agreement that does not comply with
this Section 9.04 shall be treated for purposes of this Agreement as a sale by
such Lender of a participation in such rights and obligations in accordance
with paragraph (c) of this Section.

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

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

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

                    (ii)
A Participant shall not be entitled to receive any greater payment under
Section 2.15 or 2.17 than the applicable Lender would have been entitled to
receive with respect to the participation sold to such Participant, unless the
sale of the participation to such Participant is made with 

61

the Company’s prior written consent.  A Participant that would be a Foreign Lender
if it were a Lender shall not be entitled to the benefits of Section 2.17
unless the Company is notified of the participation sold to such Participant
and such Participant agrees, for the benefit of the Company, to comply with
Section 2.17(e) as though it were a Lender.

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

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

                    SECTION
9.06.  Counterparts;
Integration; Effectiveness.
This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract.  This Agreement, the other Loan Documents and
any separate letter agreements with respect to fees payable to the
Administrative Agent constitute the entire contract among the parties relating
to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof.  Except as provided in Section 4.01, this
Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received
counterparts hereof which, when taken together, bear the signatures of each of
the other parties hereto, and thereafter shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.  Delivery of an executed counterpart of a
signature page of this Agreement by telecopy shall be effective as delivery of
a manually executed counterpart of this Agreement.

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

                    SECTION
9.08.  Right of Setoff.  If an Event of Default shall have occurred
and be continuing, each Lender and each of its Affiliates is hereby authorized
at any time and from time to time, to the fullest extent permitted by law, to
set off and apply any and all deposits (general or special, time or 

62

demand, provisional or final and in whatever currency
denominated) at any time held and other obligations at any time owing by such
Lender or Affiliate to or for the credit or the account of any Borrower against
any of and all the obligations of such Borrower now or hereafter existing under
this Agreement held by such Lender, irrespective of whether or not such Lender
shall have made any demand under this Agreement and although such obligations
may be unmatured.  The rights of each
Lender under this Section are in addition to other rights and remedies
(including other rights of setoff) which such Lender may have.

                    SECTION
9.09.  Governing Law;
Jurisdiction; Consent to Service of Process.  (a)
This Agreement shall be construed in accordance with and governed by the
law of the State of New York.

                    (b)
Each Borrower hereby irrevocably and
unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the Supreme Court 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 for recognition or enforcement
of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent
permitted by law, in such Federal court.
Each of the parties hereto agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by
law.  Nothing in this Agreement or any
other Loan Document shall affect any right that the Administrative Agent, the
Issuing Bank or any Lender may otherwise have to bring any action or proceeding
relating to this Agreement against any Borrower or its properties in the courts
of any jurisdiction.

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

                    (d)
Each party to this Agreement irrevocably
consents to service of process in the manner provided for notices in Section
9.01.  Each Foreign Subsidiary Borrower
irrevocably designates and appoints the Company, as its authorized agent, to
accept and acknowledge on its behalf, service of any and all process which may
be served in any suit, action or proceeding of the nature referred to in
Section 9.09(b) in any federal or New York State court sitting in New York
City.  The Company hereby represents,
warrants and confirms that the Company has agreed to accept such appointment
(and any similar appointment by a Subsidiary Guarantor which is a Foreign
Subsidiary).  Said designation and
appointment shall be irrevocable by each such Foreign Subsidiary Borrower until
all Loans, all reimbursement obligations, interest thereon and all other
amounts payable by such Foreign Subsidiary Borrower hereunder and under the
other Loan Documents shall have been paid in full in accordance with the
provisions hereof and thereof and such Foreign Subsidiary Borrower shall have
been terminated as a Borrower hereunder pursuant to Section 2.23.  Each Foreign Subsidiary Borrower hereby
consents to process being served in any suit, action or proceeding of the
nature referred to in Section 9.09(b) in any federal or New York State court
sitting in New York City by service of process upon the Company as provided in
this Section 9.09(d); provided that, to the extent lawful and possible,
notice of said service upon such agent shall be mailed by registered or
certified air mail, postage prepaid, return receipt requested, to the Company
and (if applicable to) such Foreign Subsidiary Borrower at its address set
forth in the Borrowing Subsidiary Agreement to which it is a party or to any
other address of which such Foreign Subsidiary Borrower shall have given
written notice to the Administrative Agent (with a copy thereof to the
Company).  Each Foreign Subsidiary
Borrower irrevocably waives, to the fullest extent 

63

permitted by law, all claim of error by reason of any
such service in such manner and agrees that such service shall be deemed in
every respect effective service of process upon such Foreign Subsidiary
Borrower in any such suit, action or proceeding and shall, to the fullest
extent permitted by law, be taken and held to be valid and personal service
upon and personal delivery to such Foreign Subsidiary Borrower.  To the extent any Foreign Subsidiary
Borrower has or hereafter may acquire any immunity from jurisdiction of any
court or from any legal process (whether from service or notice, attachment
prior to judgment, attachment in aid of execution of a judgment, execution or
otherwise), each Foreign Subsidiary Borrower hereby irrevocably waives such
immunity in respect of its obligations under the Loan Documents.  Nothing in this Agreement or any other Loan
Document will affect the right of any party to this Agreement to serve process
in any other manner permitted by law.

                    SECTION
9.10.  WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED
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 PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK
TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

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

                    SECTION
9.12.  Confidentiality.  Each of the Administrative Agent, the
Issuing Bank and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to
its and its Affiliates’ directors, officers, employees and agents, including
accountants, legal counsel and other advisors (it being understood that the
Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and instructed to keep such Information
confidential), (b) to the extent requested by any regulatory authority, (c) to
the extent required by applicable laws or regulations or by any subpoena or similar
legal process, (d) to any other party to this Agreement, (e) in connection with
the exercise of any remedies hereunder or any suit, action or proceeding
relating to this Agreement or any other Loan Document or the enforcement of
rights hereunder or thereunder, (f) subject to an agreement containing
provisions substantially the same as those of this Section, to (i) any assignee
of or Participant in, or any prospective assignee of or Participant in, any of
its rights or obligations under this Agreement or (ii) any actual or
prospective counterparty (or its advisors) to any swap or derivative
transaction relating to any Borrower and its obligations, (g) with the consent
of the Company or (h) to the extent such Information (i) becomes publicly
available other than as a result of a breach of this Section or (ii) becomes
available to the Administrative Agent, the Issuing Bank or any Lender on a
nonconfidential basis from a source other than the Company or any of its
Subsidiaries.  For the purposes of this
Section, “Information”
means all information received from the Company relating to the Company or its
business, other than any such information that is available to the
Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis
prior to disclosure by the Company.  Any
Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so
if such Person has exercised the same degree of care to maintain the
confidentiality of such Information as such Person would accord to its 

64

own confidential information (and in any event in
compliance in all material respects with applicable law regarding material
non-public information).

                    SECTION
9.13.  USA PATRIOT Act.  Each Lender that is subject to the
requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)) (the “Act”) hereby notifies each Borrower that
pursuant to the requirements of the Act, it is required to obtain, verify and
record information that identifies such Borrower, which information includes
the name and address of such Borrower and other information that will allow
such Lender to identify such Borrower in accordance with the Act.

ARTICLE X

Cross-Guarantee

                    In
order to induce the Lenders to extend credit to the other Borrowers hereunder,
but subject to the last sentence of this Article X, each Borrower hereby
irrevocably and unconditionally guarantees, as a primary obligor and not merely
as a surety, the payment when and as due of the Obligations of such other
Borrowers.  Each Borrower further agrees
that the due and punctual payment of such Obligations may be extended or
renewed, in whole or in part, without notice to or further assent from it, and
that it will remain bound upon its guarantee hereunder notwithstanding any such
extension or renewal of any such Obligation.

                    Each
Borrower waives presentment to, demand of payment from and protest to any Borrower
of any of the Obligations, and also waives notice of acceptance of its
obligations and notice of protest for nonpayment.  The obligations of each Borrower hereunder shall not be affected
by (a) the failure of the Administrative Agent, the Issuing Bank or any Lender
to assert any claim or demand or to enforce any right or remedy against any
Borrower under the provisions of this Agreement, any other Loan Document or
otherwise; (b) any extension or renewal of any of the Obligations; (c) any
rescission, waiver, amendment or modification of, or release from, any of the
terms or provisions of this Agreement, or any other Loan Document or agreement;
(d) any default, failure or delay, willful or otherwise, in the performance of
any of the Obligations; (e) the failure of the Administrative Agent to take any
steps to perfect and maintain any security interest in, or to preserve any
rights to, any security or collateral for the Obligations, if any; (f) any
change in the corporate, partnership or other existence, structure or ownership
of any Borrower or any other guarantor of any of the Obligations; (g) the
enforceability or validity of the Obligations or any part thereof or the
genuineness, enforceability or validity of any agreement relating thereto or
with respect to any collateral securing the Obligations or any part thereof, or
any other invalidity or unenforceability relating to or against any Borrower or
any other guarantor of any of the Obligations, for any reason related to this
Agreement, any Swap Agreement, any other Loan Document, or any provision of
applicable law, decree, order or regulation of any jurisdiction purporting to
prohibit the payment by such Borrower or any other guarantor of the
Obligations, of any of the Obligations or otherwise affecting any term of any
of the Obligations; or (h) any other act, omission or delay to do any other act
which may or might in any manner or to any extent vary the risk of such
Borrower or otherwise operate as a discharge of a guarantor as a matter of law
or equity or which would impair or eliminate any right of such Borrower to
subrogation.

                    Each
Borrower further agrees that its agreement hereunder constitutes a guarantee of
payment when due (whether or not any bankruptcy or similar proceeding shall
have stayed the accrual or collection of any of the Obligations or operated as
a discharge thereof) and not merely of collection, and waives any right to
require that any resort be had by the Administrative Agent, the Issuing Bank or
any Lender to any balance of any deposit account or credit on the books of the
Administrative Agent, the Issuing Bank or any Lender in favor of any Borrower
or any other Person.

65

                    The
obligations of each Borrower hereunder shall not be subject to any reduction,
limitation, impairment or termination for any reason, and shall not be subject
to any defense or set-off, counterclaim, recoupment or termination whatsoever,
by reason of the invalidity, illegality or unenforceability of any of the
Obligations, any impossibility in the performance of any of the Obligations or
otherwise.

                    Each
Borrower further agrees that its obligations hereunder shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any
part thereof, of any Obligation is rescinded or must otherwise be restored by
the Administrative Agent, the Issuing Bank or any Lender upon the bankruptcy or
reorganization of any Borrower or otherwise.

                    In
furtherance of the foregoing and not in limitation of any other right which the
Administrative Agent, the Issuing Bank or any Lender may have at law or in
equity against any Borrower by virtue hereof, upon the failure of any other
Borrower to pay any Obligation when and as the same shall become due, whether
at maturity, by acceleration, after notice of prepayment or otherwise, each
Borrower hereby promises to and will, upon receipt of written demand by the
Administrative Agent, the Issuing Bank or any Lender, forthwith pay, or cause to
be paid, to the Administrative Agent, the Issuing Bank or any Lender in cash an
amount equal to the unpaid principal amount of such Obligations then due,
together with accrued and unpaid interest thereon.  Each Borrower further agrees that if payment
in respect of any Obligation shall be due in a currency other than Dollars
and/or at a place of payment other than New York, Chicago or any other
Eurocurrency Payment Office and if, by reason of any Change in Law, disruption
of currency or foreign exchange markets, war or civil disturbance or other
event, payment of such Obligation in such currency or at such place of payment
shall be impossible or, in the reasonable judgment of the Administrative Agent,
the Issuing Bank or any Lender, disadvantageous to the Administrative Agent,
the Issuing Bank or any Lender in any material respect, then, at the election
of the Administrative Agent, such Borrower shall make payment of such
Obligation in Dollars (based upon the applicable Equivalent Amount in effect on
the date of payment) and/or in New York, Chicago or such other
Eurocurrency Payment Office as is designated by the Administrative Agent and,
as a separate and independent obligation, shall indemnify the Administrative
Agent, the Issuing Bank and any Lender against any losses or reasonable
out-of-pocket expenses that it shall sustain as a result of such alternative
payment.

                    Upon
payment by any Borrower of any sums as provided above, all rights of such
Borrower against any Borrower arising as a result thereof by way of right of
subrogation or otherwise shall in all respects be subordinated and junior in
right of payment to the prior indefeasible payment in full in cash of all the
Obligations owed by such Borrower to the Administrative Agent, the Issuing Bank
and the Lenders.

                    Nothing
shall discharge or satisfy the liability of any Borrower hereunder except the
full performance and payment of the Obligations.

                    Notwithstanding
anything contained in this Article X to the contrary, no Foreign Subsidiary
Borrower which is and remains an Affected Foreign Subsidiary shall be liable
hereunder for any of the Loans made to, or any other Obligation incurred solely
by or on behalf of, the Company or any Subsidiary Guarantor which is a Domestic
Subsidiary.

[Signature Pages
Follow]

66

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

	
   

  	
   

  	
   

  
	
   

  	
  TENNANT COMPANY, as the Company

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  

  	
   

  
	
   

  	
   

  	
    Name:

  
	
   

  	
   

  	
    Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
  individually as a Lender, as Swingline Lender, as Issuing Bank and as
  Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  

  	
   

  
	
   

  	
   

  	
    Name:

  
	
   

  	
   

  	
    Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  [OTHER AGENTS AND LENDERS]

  

Signature Page to Credit
Agreement

Tennant Company

SCHEDULE 2.01

COMMITMENTS

	
 

	
 

	
 

	
 

	
 

	
LENDER

	
 

	
COMMITMENT

	
 

	

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
JPMORGAN
  CHASE BANK, NATIONAL ASSOCIATION

	
 

	
$

	
30,000,000

	
 

	
 

	
 

	
 

	
 

	
 

	
BANK OF
  AMERICA, N.A.

	
 

	
$

	
25,000,000

	
 

	
 

	
 

	
 

	
 

	
 

	
BMO CAPITAL
  MARKETS FINANCING, INC.

	
 

	
$

	
25,000,000

	
 

	
 

	
 

	
 

	
 

	
 

	
U.S. BANK
  NATIONAL ASSOCIATION

	
 

	
$

	
25,000,000

	
 

	
 

	
 

	
 

	
 

	
 

	
WELLS FARGO
  BANK, N.A.

	
 

	
$

	
20,000,000

	
 

	
 

	
 

	
 

	
 

	
 

	
AGGREGATE COMMITMENT

	
 

	
$

	
125,000,000

	
 

SCHEDULE 2.02

MANDATORY COST

	
 

	
 

	
 

	
 

	
 

	
1.

	
The
  Mandatory Cost is an addition to the interest rate to compensate Lenders for
  the cost of compliance with (a) the requirements of the Bank of England
  and/or the Financial Services Authority (or, in either case, any other
  authority which replaces all or any of its functions) or (b) the requirements
  of the European Central Bank.

	
 

	
 

	
 

	
2.

	
On the first
  day of each Interest Period (or as soon as possible thereafter) the
  Administrative Agent shall calculate, as a percentage rate, a rate (the “Associated
  Costs Rate”) for each Lender, in accordance with the paragraphs set out
  below.  The Mandatory Cost will be calculated
  by the Administrative Agent as a weighted average of the Lenders’
 Associated
  Costs Rates (weighted in proportion to the percentage participation of each
  Lender in the relevant Loan) and will be expressed as a percentage rate per
  annum.

	
 

	
 

	
 

	
3.

	
The
  Associated Costs Rate for any Lender lending from a Facility Office in a
  Participating Member State will be the percentage notified by that Lender to
  the Administrative Agent.  This
  percentage will be certified by that Lender in its notice to the Administrative
  Agent to be its reasonable determination of the cost (expressed as a
  percentage of that Lender’s participation in all Loans made from that
  Facility Office) of complying with the minimum reserve requirements of the
  European Central Bank in respect of loans made from that Facility Office.

	
 

	
 

	
 

	
4.

	
The
  Associated Costs Rate for any Lender lending from a Facility Office in the
  United Kingdom will be calculated by the Administrative Agent as follows:

	
 

	
 

	
 

	
 

	
(a)

	
in relation
  to a Loan in Pounds Sterling:

	
 

	
 

	
 

	
 

	
 

	
AB + C (B – D) + E 
Í
0.01

	
 

	
 

	
 

	

	
 per cent.
  per annum

	
 

	
 

	
100 – (A + C)

	
 

	
 

	
 

	
 

	
 

	
(b)

	
in relation
  to a Loan in any currency other than Pounds Sterling:

	
 

	
 

	
 

	
 

	
 

	
E  Í 0.01

	
 

	
 

	
 

	

	
 per cent.
  per annum.

	
 

	
 

	
300

	
 

	
 

	
 

	
 

	
 

	
Where:

	
 

	
 

	
 

	
 

	
A

	
is the
  percentage of Eligible Liabilities (assuming these to be in excess of any
  stated minimum) which that Lender is from time to time required to maintain
  as an interest free cash ratio deposit with the Bank of England to comply
  with cash ratio requirements.

	
 

	
 

	
 

	
 

	
B

	
is the
  percentage rate of interest (excluding the Applicable Rate and the Mandatory
  Cost and, if the Loan is an Unpaid Sum, the additional rate of interest
  specified in Section 2.13(c)) payable for the relevant Interest Period on the
  Loan.

	
 

	
 

	
 

	
 

	
C

	
is the
  percentage (if any) of Eligible Liabilities which that Lender is required
  from time to time to maintain as interest bearing Special Deposits with the
  Bank of England.

	
 

	
 

	
 

	
 

	
D

	
is the
  percentage rate per annum payable by the Bank of England to the
  Administrative Agent on interest bearing Special Deposits.

	
 

	
 

	
 

	
 

	
E

	
is designed
  to compensate Lenders for amounts payable under the Fees Rules and is
  calculated by the Administrative Agent as being the average of the most
  recent rates of charge supplied by the Reference Banks to the Administrative
  Agent pursuant to paragraph 7 below and expressed in pounds per £1,000,000.

	
 

	
 

	
 

	
5.

	
For the
  purposes of this Schedule:

	
 

	
 

	
 

	
 

	
(a)

	
“Eligible
  Liabilities” and “Special Deposits” have the meanings given
  to them from time to time under or pursuant to the Bank of England Act 1998
  or (as may be appropriate) by the Bank of England;

	
 

	
 

	
 

	
 

	
(b)

	
“Facility
  Office” means the office or offices notified by a Lender to the
  Administrative Agent in writing on or before the date it becomes a Lender
  (or, following that date, by not less than five Business Days’ written
  notice) as the office or offices through which it will perform its
  obligations under this Agreement.

	
 

	
 

	
 

	
 

	
(c)

	
“Fees Rules”
  means the rules on periodic fees contained in the FSA Supervision Manual or
  such other law or regulation as may be in force from time to time in respect
  of the payment of fees for the acceptance of deposits;

	
 

	
 

	
 

	
 

	
(d)

	
“Fee
  Tariffs” means the fee tariffs specified in the Fees Rules under
  the activity group A.1 Deposit acceptors (ignoring any minimum fee or zero
  rated fee required pursuant to the Fees Rules but taking into account any
  applicable discount rate);

	
 

	
 

	
 

	
 

	
(e)

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

	
 

	
 

	
 

	
 

	
(f)

	
“Reference
  Banks” means, in relation to Mandatory Cost, the principal London
  offices of JPMorgan Chase Bank, National Association.

	
 

	
 

	
 

	
 

	
(g)

	
“Tariff
  Base” has the meaning given to it in, and will be calculated in
  accordance with, the Fees Rules.

	
 

	
 

	
 

	
 

	
(h)

	
“Unpaid Sum”
  means any sum due and payable but unpaid by any Borrower under the Loan
  Documents.

	
 

	
 

	
 

	
6.

	
In
  application of the above formulae, A, B, C and D will be included in the
  formulae as percentages (i.e. 5 per cent. will be included in the formula as
  5 and not as 0.05).  A negative result
  obtained by subtracting D from B shall be taken as zero.  The resulting figures shall be rounded to
  four decimal places.

2

	
 

	
 

	
 

	
7.

	
If requested
  by the Administrative Agent, each Reference Bank shall, as soon as
  practicable after publication by the Financial Services Authority, supply to
  the Administrative Agent, the rate of charge payable by that Reference Bank
  to the Financial Services Authority pursuant to the Fees Rules in respect of
  the relevant financial year of the Financial Services Authority (calculated
  for this purpose by that Reference Bank as being the average of the Fee
  Tariffs applicable to that Reference Bank for that financial year) and
  expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank.

	
 

	
 

	
 

	
8.

	
Each Lender
  shall supply any information required by the Administrative Agent for the
  purpose of calculating its Associated Costs Rate.  In particular, but without limitation, each Lender shall supply
  the following information on or prior to the date on which it becomes a
  Lender:

	
 

	
 

	
 

	
 

	
(i)

	
the
  jurisdiction of its Facility Office; and

	
 

	
 

	
 

	
 

	
(j)

	
any other
  information that the Administrative Agent may reasonably require for such
  purpose.

	
 

	
 

	
 

	
Each Lender
  shall promptly notify the Administrative Agent of any change to the
  information provided by it pursuant to this paragraph. 

	
 

	
 

	
 

	
9.

	
The
  percentages of each Lender for the purpose of A and C above and the rates of
  charge of each Reference Bank for the purpose of E above shall be determined
  by the Administrative Agent based upon the information supplied to it
  pursuant to paragraphs 7 and 8 above and on the assumption that, unless a
  Lender notifies the Administrative Agent to the contrary, each Lender’s
  obligations in relation to cash ratio deposits and Special Deposits are the
  same as those of a typical bank from its jurisdiction of incorporation with a
  Facility Office in the same jurisdiction as its Facility Office.

	
 

	
 

	
 

	
10.

	
The
  Administrative Agent shall have no liability to any person if such
  determination results in an Associated Costs Rate which over or under
  compensates any Lender and shall be entitled to assume that the information
  provided by any Lender or Reference Bank pursuant to paragraphs 3, 7 and 8
  above is true and correct in all respects.
  

	
 

	
 

	
 

	
11.

	
The
  Administrative Agent shall distribute the additional amounts received as a
  result of the Mandatory Cost to the Lenders on the basis of the Associated
  Costs Rate for each Lender based on the information provided by each Lender
  and each Reference Bank pursuant to paragraphs 3, 7 and 8 above.

	
 

	
 

	
 

	
12.

	
Any
  determination by the Administrative Agent pursuant to this Schedule in
  relation to a formula, the Mandatory Cost, an Associated Costs Rate or any
  amount payable to a Lender shall, in the absence of manifest error, be
  conclusive and binding on all parties hereto.

	
 

	
 

	
 

	
13.

	
The
  Administrative Agent may from time to time, after consultation with the
  Company and the relevant Lenders, determine and notify to all parties hereto
  any amendments which are required to be made to this Schedule 2.02 in order
  to comply with any change in law, regulation or any

3

	
 

	
 

	
 

	
requirements from
time to time imposed by the Bank of England, the
  Financial Services Authority or the European Central Bank (or, in any case,
  any other authority which replaces all or any of its functions) and any such
  determination shall, in the absence of manifest error, be conclusive and
  binding on all parties hereto.

4

EXHIBIT A

ASSIGNMENT AND ASSUMPTION

                    This
Assignment and Assumption (the “Assignment and Assumption”)
is dated as of the Effective Date set forth below and is entered into by and
between [Insert
name of Assignor] (the “Assignor”) and [Insert name
of Assignee] (the “Assignee”).
Capitalized terms used but not defined herein shall have the meanings
given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”),
receipt of a copy of which is hereby acknowledged by the Assignee.  The Standard Terms and Conditions set forth
in Annex 1 attached hereto are hereby agreed to and incorporated herein by
reference and made a part of this Assignment and Assumption as if set forth
herein in full.

                    For
an agreed consideration, the Assignor hereby irrevocably sells and assigns to
the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and
Conditions and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of the Assignor’s rights and
obligations in its capacity as a Lender under the Credit Agreement and any
other documents or instruments delivered pursuant thereto to the extent related
to the amount and percentage interest identified below of all of such
outstanding rights and obligations of the Assignor under the respective
facilities identified below (including any letters of credit, guarantees, and
swingline loans included in such facilities) and (ii) to the extent permitted
to be assigned under applicable law, all claims, suits, causes of action and
any other right of the Assignor (in its capacity as a Lender) against any
Person, whether known or unknown, arising under or in connection with the
Credit Agreement, any other documents or instruments delivered pursuant thereto
or the loan transactions governed thereby or in any way based on or related to
any of the foregoing, including contract claims, tort claims, malpractice
claims, statutory claims and all other claims at law or in equity related to
the rights and obligations sold and assigned pursuant to clause (i) above (the
rights and obligations sold and assigned pursuant to clauses (i) and (ii) above
being referred to herein collectively as the “Assigned Interest”).  Such sale and assignment is without recourse
to the Assignor and, except as expressly provided in this Assignment and
Assumption, without representation or warranty by the Assignor.

	
 

	
 

	
 

	
1.

	
Assignor:

	
________________________________________________

	
 

	
 

	
 

	
2.

	
Assignee:

	
________________________________________________

	
 

	
 

	
[and is an
Affiliate/Approved Fund of [identify Lender]1]

	
 

	
 

	
 

	
3.

	
Borrowers:

	
Tennant
  Company and certain Foreign Subsidiary Borrowers

	
 

	
 

	
 

	
4.

	
Administrative
  Agent:

	
JPMorgan
  Chase Bank, National Association, as the administrative agent under the
  Credit Agreement

	
 

	
 

	
 

	
5.

	
Credit
  Agreement:

	
The Credit
  Agreement dated as of June 19, 2007 among Tennant Company, the Foreign
  Subsidiary Borrowers from time to time parties thereto, the Lenders parties
  thereto, JPMorgan Chase Bank, National Association, as Administrative Agent,
  and the other agents parties thereto

	
 

	
 

	
 

	
6.

	
Assigned Interest:

	
 

	
 

	
 

	
 

	

	
1 Select as applicable.

	
 

	
 

	
 

	
 

	
 

	
 

	
Aggregate Amount of

Commitment/Loans for all

Lenders 

	
 

	
Amount of

Commitment/

Loans Assigned 

	
 

	
Percentage Assigned

of

Commitment/Loans2 

	

	
 

	

	
 

	

	
           $

	
 

	
           $

	
 

	
%

	
           $

	
 

	
           $

	
 

	
%

	
           $

	
 

	
           $

	
 

	
%

Effective
Date:  _____________ ___, 20___ [TO BE
INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF
RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

The terms set forth in this
Assignment and Assumption are hereby agreed to: 

	
 

	
 

	
 

	
 

	
ASSIGNOR 

	
 

	
 

	
 

	
 

	
[NAME OF
  ASSIGNOR]

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
ASSIGNEE 

	
 

	
 

	
 

	
 

	
[NAME OF
  ASSIGNEE]

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	

	
 

	
 

	
Title:

Consented to
and Accepted: 

	
 

	
 

	
 

	
JPMORGAN
  CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
[Consented
  to:]3

	
 

	
 

	
 

	
 

	
TENNANT
  COMPANY

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	

	
2 Set forth,
  so at least 9 decimals, as a percentage of the Commitment/Loans of all
  Lenders thereunder. 

	
 

	
 

	
3 To be added
  only if the consent of the Company is required by the terms of the Credit
  Agreement. 

2

ANNEX I

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

                    1.
Representations and Warranties.

                    1.1
Assignor. The Assignor (a) represents and warrants that (i) it is the
legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest
is free and clear of any lien, encumbrance or other adverse claim and (iii) it
has full power and authority, and has taken all action necessary, to execute
and deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the
Credit Agreement or any other Loan Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Loan
Documents or any collateral thereunder, (iii) the financial condition of the
Company, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the
Company, any of its Subsidiaries or Affiliates or any other Person of any of
their respective obligations under any Loan Document.

                    1.2.
Assignee. The Assignee (a) represents and warrants that (i) it has full
power and authority, and has taken all action necessary, to execute and deliver
this Assignment and Assumption and to consummate the transactions contemplated
hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the
requirements, if any, specified in the Credit Agreement that are required to be
satisfied by it in order to acquire the Assigned Interest and become a Lender,
(iii) from and after the Effective Date, it shall be bound by the provisions of
the Credit Agreement as a Lender thereunder and, to the extent of the Assigned
Interest, shall have the obligations of a Lender thereunder, (iv) it has
received a copy of the Credit Agreement, together with copies of the most
recent financial statements delivered pursuant to Section 5.01 thereof, as
applicable, and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this
Assignment and Assumption and to purchase the Assigned Interest on the basis of
which it has made such analysis and decision independently and without reliance
on the Administrative Agent or any other Lender, and (v) if it is a Foreign
Lender, attached to the Assignment and Assumption is any documentation required
to be delivered by it pursuant to the terms of the Credit Agreement, duly
completed and executed by the Assignee; and (b) agrees that (i) it will,
independently and without reliance on the Administrative Agent, the Assignor or
any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or
not taking action under the Loan Documents, and (ii) it will perform in
accordance with their terms all of the obligations which by the terms of the Loan
Documents are required to be performed by it as a Lender.

                    2.
Payments. From and after the Effective Date, the Administrative Agent
shall make all payments in respect of the Assigned Interest (including payments
of principal, interest, fees and other amounts) to the Assignor for amounts
which have accrued to but excluding the Effective Date and to the Assignee for
amounts which have accrued from and after the Effective Date.

                    3.
General Provisions. This Assignment and Assumption shall be binding
upon, and inure to the benefit of, the parties hereto and their respective
successors and assigns. This Assignment and Assumption may be executed in any
number of counterparts, which together shall constitute one instrument. Delivery
of an executed counterpart of a signature page of this Assignment and
Assumption by telecopy shall be effective as delivery of a manually executed
counterpart of this Assignment and

Assumption.
This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York.

2

EXHIBIT B-1

OPINION OF IN-HOUSE COUNSEL FOR THE LOAN
PARTIES

[Attached]

EXHIBIT B-2

OPINION OF OUTSIDE COUNSEL FOR THE LOAN
PARTIES

[Attached]

EXHIBIT C

FORM OF INCREASING LENDER SUPPLEMENT

INCREASING
LENDER SUPPLEMENT, dated __________, 20___ (this “Supplement”), by and
among each of the signatories hereto, to the Credit Agreement, dated as of June
19, 2007 (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”), among Tennant Company (the “Company”),
the Foreign Subsidiary Borrowers from time to time party thereto, the Lenders
party thereto and JPMorgan Chase Bank, National Association, as administrative
agent (in such capacity, the “Administrative Agent”). 

W I T N E S S E T H

                    WHEREAS,
pursuant to Section 2.20 of the Credit Agreement, the Borrower has the
right, subject to the terms and conditions thereof, to effectuate from time to
time an increase in the aggregate Commitments under the Credit Agreement by
requesting one or more Lenders to increase the amount of its Commitment;

                    WHEREAS,
the Borrower has given notice to the Administrative Agent of its intention to
request an increase the aggregate Commitments pursuant to such Section 2.20;
and

                    WHEREAS,
pursuant to Section 2.20 of the Credit Agreement, the undersigned
Increasing Lender now desires to increase the amount of its Commitment under
the Credit Agreement by executing and delivering to the Borrower and the
Administrative Agent this Supplement;

                    NOW,
THEREFORE, each of the parties hereto hereby agrees as follows:

                    1.
The undersigned Increasing Lender agrees, subject to the terms and conditions
of the Credit Agreement, that on the date of this Supplement it shall have its
Commitment increased by $[__________], thereby making the aggregate amount of
its total Commitments equal to $[__________].

                    2.
The Company hereby represents and warrants that no Default or Event of Default
has occurred and is continuing on and as of the date hereof.

                    3.
Terms defined in the Credit Agreement shall have their defined meanings when
used herein.

                    4.
This Supplement shall be governed by, and construed in accordance with, the
laws of the State of New York.

                    5.
This Supplement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed shall
be deemed to be an original and all of which taken together shall constitute
one and the same document.

                    IN
WITNESS WHEREOF, each of the undersigned has caused this Supplement to be
executed and delivered by a duly authorized officer on the date first above
written.

	
 

	
 

	
 

	
[INSERT NAME
  OF INCREASING LENDER]

	
 

	
By:

	
 

	

	
 

	
Name:

	
 

	
Title:

Accepted and
agreed to as of the date first written above:

TENNANT
COMPANY

	
 

	
 

	
By:

	
 

	

	
 

	
Name:

	
 

	
Title:

	
 

Acknowledged
as of the date first written above:

JPMORGAN CHASE
BANK, NATIONAL ASSOCIATION

as Administrative Agent

	
 

	
 

	
By:

	
 

	

	
 

	
Name:

	
 

	
Title:

	
 

2

EXHIBIT D

FORM OF AUGMENTING LENDER SUPPLEMENT

                    AUGMENTING
LENDER SUPPLEMENT, dated __________, 20___ (this “Supplement”), to the Credit
Agreement, dated as of June 19, 2007 (as amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among Tennant
Company (the “Company”), the Foreign Subsidiary Borrowers from time to
time party thereto, the Lenders party thereto and JPMorgan Chase Bank, National
Association, as administrative agent (in such capacity, the “Administrative Agent”).  

W I T N E S S E T H

                    WHEREAS,
the Credit Agreement provides in Section 2.20 thereof that any bank,
financial institution or other entity may extend Commitments under the Credit
Agreement subject to the approval of the Company and the Administrative Agent,
by executing and delivering to the Company and the Administrative Agent a
supplement to the Credit Agreement in substantially the form of this
Supplement; and

                    WHEREAS,
the undersigned Augmenting Lender was not an original party to the Agreement
but now desires to become a party thereto;

                    NOW,
THEREFORE, each of the parties hereto hereby agrees as follows:

                    1.
The undersigned Augmenting Lender agrees to be bound by the provisions of the
Credit Agreement and agrees that it shall, on the date of this Supplement,
become a Lender for all purposes of the Credit Agreement to the same extent as
if originally a party thereto, with a Commitment with respect to Revolving
Loans of $[__________].

                    2.
The undersigned Augmenting Lender (a) represents and warrants that it is
legally authorized to enter into this Supplement; (b) confirms that it has
received a copy of the Credit Agreement, together with copies of the most
recent financial statements delivered pursuant to Section 5.01 thereof,
as applicable, and has reviewed such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to enter into
this Supplement; (c) agrees 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 deem appropriate at the time, continue to make its
own credit decisions in taking or not taking action under the Credit Agreement
or any other instrument or document furnished pursuant hereto or thereto; (d)
appoints and authorizes the Administrative Agent to take such action as agent
on its behalf and to exercise such powers and discretion under the Credit
Agreement or any other instrument or document furnished pursuant hereto or
thereto as are delegated to the Administrative Agent by the terms thereof,
together with such powers as are incidental thereto; and (e) agrees that it will
be bound by the provisions of the Credit Agreement and will perform in
accordance with its terms all the obligations which by the terms of the Credit
Agreement are required to be performed by it as a Lender.

                    3.
The undersigned’s address for notices for the purposes of the Credit Agreement
is as follows:

                              [___________]

                    4.
The Company hereby represents and warrants that no Default or Event of Default
has occurred and is continuing on and as of the date hereof.

                    5.
Terms defined in the Credit Agreement shall have their defined meanings when
used herein.

                    6.
This Supplement shall be governed by, and construed in accordance with, the
laws of the State of New York.

                    7.
This Supplement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed shall
be deemed to be an original and all of which taken together shall constitute
one and the same document.

[remainder of this page intentionally left
blank]

2

                    IN
WITNESS WHEREOF, each of the undersigned has caused this Supplement to be
executed and delivered by a duly authorized officer on the date first above
written.

	
 

	
 

	
 

	
[INSERT NAME
  OF AUGMENTING LENDER]

	
 

	
 

	
 

	
By: 

	
 

	

	
 

	
Name:

	
 

	
Title:

Accepted and
agreed to as of the date first written above:

TENNANT
COMPANY

	
 

	
 

	
By:

	
 

	

	
 

	
Name:

	
 

	
Title:

	
 

Acknowledged
as of the date first written above:

JPMORGAN CHASE
BANK, NATIONAL ASSOCIATION

as Administrative Agent

	
 

	
 

	
By:

	
 

	

	
 

	
Name:

	
 

	
Title:

	
 

3

EXHIBIT E

LIST OF CLOSING DOCUMENTS

TENNANT
COMPANY

CERTAIN FOREIGN SUBSIDIARY BORROWERS

CREDIT
FACILITIES

June 19, 2007

LIST OF CLOSING DOCUMENTS1

A.          LOAN
DOCUMENTS

	
 

	
 

	
1.

	
Credit
  Agreement (the “Credit Agreement”) by and among Tennant Company, a Minnesota
  corporation (the “Company”), the Foreign Subsidiary Borrowers from
  time to time parties thereto (collectively with the Company, the “Borrowers”),
  the institutions from time to time parties thereto as Lenders (the “Lenders”)
  and JPMorgan Chase Bank, National Association, in its capacity as
  Administrative Agent for itself and the other Lenders (the “Administrative
  Agent”), evidencing a revolving credit facility to the Borrowers from the
  Lenders in an initial aggregate principal amount of $125,000,000.

	
 

	
 

	
 

	
 

	
SCHEDULES

	
 

	
 

	
 

	
 

	
 

	
Schedule
  2.01

	
—

	
Commitments

	
 

	
Schedule
  2.02

	
—

	
Mandatory
  Cost

	
 

	
Schedule 3.01

	
—

	
Subsidiaries

	
 

	
Schedule 6.01

	
—

	
Existing Indebtedness

	
 

	
Schedule 6.02

	
—

	
Existing Liens

	
 

	
Schedule 6.08

	
—

	
Existing Restrictions

	
 

	
 

	
 

	
 

	
EXHIBITS

	
 

	
 

	
Exhibit A

	
—

	
Form of
  Assignment and Assumption

	
 

	
Exhibit B-1

	
—

	
Form of
  Opinion of Loan Parties’ In-House Counsel

	
 

	
Exhibit B-2

	
—

	
Form of
  Opinion of Loan Parties’ Outside Counsel

	
 

	
Exhibit C

	
—

	
Form of
  Increasing Lender Supplement

	
 

	
Exhibit D

	
—

	
Form of Augmenting
  Lender Supplement

	
 

	
Exhibit E

	
—

	
List of
  Closing Documents

	
 

	
Exhibit F-1

	
—

	
Form of
  Borrowing Subsidiary Agreement

	
 

	
Exhibit F-2

	
—

	
Form of
  Borrowing Subsidiary Termination

	
 

	
Exhibit G

	
—

	
Form of
  Subsidiary Guaranty

	
 

	
Exhibit H

	
—

	
Form of
  Pledge Agreement

	
 

	

	
1 Each
  capitalized term used herein and not defined herein shall have the meaning
  assigned to such term in the above-defined Credit Agreement.  Items appearing in bold and italics
  shall be prepared and/or provided by the Company and/or Company’s counsel

	
 

	
 

	
2.

	
Notes
  executed by the Company in favor of each of the Lenders, if any, which has
  requested a note pursuant to Section 2.10(e) of the Credit Agreement.

	
 

	
 

	
3.

	
Guaranty
  executed by the initial Subsidiary Guarantors (collectively with the
  Borrowers, the “Loan Parties”) in favor of the Administrative Agent.

	
 

	
 

	
B.          CORPORATE
  DOCUMENTS

	
 

	
4.

	
Certificate of the Secretary or an
  Assistant Secretary of each Loan Party certifying (i) that there have been no
  changes in the Certificate of Incorporation or other charter document of such
  Loan Party, as attached thereto and as certified as of a recent date by the
  Secretary of State of the jurisdiction of its organization, since the date of
  the certification thereof by such secretary of state, (ii) the By-Laws or
  other applicable organizational document, as attached thereto, of such Loan
  Party as in effect on the date of such certification, (iii) resolutions of
  the Board of Directors or other governing body of such Loan Party authorizing
  the execution, delivery and performance of each Loan Document to which it is
  a party, and (iv) the names and true signatures of the incumbent officers of
  each Loan Party authorized to sign the Loan Documents to which it is a party,
  and (in the case of the Company) authorized to request Borrowing or an LC
  Disbursement under the Credit Agreement.

	
 

	
 

	
5.

	
Good Standing Certificate for each Loan
  Party from the Secretary of State of the jurisdiction of its organization.

	
 

	
 

	
C.          OPINIONS

	
 

	
 

	
6.

	
Opinion of Heidi M. Hoard, General Counsel
  of the Loan Parties.

	
 

	
 

	
7.

	
Opinion of Faegre & Benson LLP, Outside
  Counsel for the Loan Parties.

	
 

	
 

	
D.          CLOSING
  CERTIFICATES AND MISCELLANEOUS

	
 

	
 

	
8.

	
A Certificate signed by the President, a
  Vice President or a Financial Officer of the Company certifying the
  following: (i) all of the representations and warranties of the Company
  set forth in the Credit Agreement
  are true and correct and (ii) no Default has occurred and is then continuing.

	
 

	
 

	
9.

	
Payoff letter(s) evidencing the repayment,
  cancellation and termination of all of the Company’s and its Subsidiaries’
  existing credit facilities which are required to be repaid, cancelled and
  terminated on or prior to the Effective Date under the Credit Agreement.

2

EXHIBIT F-1

[FORM OF]

BORROWING SUBSIDIARY AGREEMENT

                    BORROWING
SUBSIDIARY AGREEMENT dated as of [_____], among Tennant Company, a Minnesota
corporation (the “Company”), [Name of Foreign Subsidiary Borrower], a
[__________] (the “New Borrowing Subsidiary”), and JPMorgan Chase Bank,
National Association as Administrative Agent (the “Administrative Agent”).

                    Reference
is hereby made to the Credit Agreement dated as of June 19, 2007 (as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”),
among the Company, the Foreign Subsidiary Borrowers from time to time party
thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank,
National Association as Administrative Agent. Capitalized terms used herein but
not otherwise defined herein shall have the meanings assigned to such terms in
the Credit Agreement. Under the Credit Agreement, the Lenders have agreed, upon
the terms and subject to the conditions therein set forth, to make Loans to certain
Foreign Subsidiary Borrowers (collectively with the Company, the “Borrowers”),
and the Company and the New Borrowing Subsidiary desire that the New Borrowing
Subsidiary become a Foreign Subsidiary Borrower. In addition, the New Borrowing
Subsidiary hereby authorizes the Company to act on its behalf as and to the
extent provided for in Article II of the Credit Agreement. [Notwithstanding
the preceding sentence, the New Borrowing Subsidiary hereby designates the
following officers as being authorized to request Borrowings under the Credit
Agreement on behalf of the New Subsidiary Borrower and sign this Borrowing
Subsidiary Agreement and the other Loan Documents to which the New Borrowing
Subsidiary is, or may from time to time become, a party: [______________].]

                    Each
of the Company and the New Borrowing Subsidiary represents and warrants that
the representations and warranties of the Company in the Credit Agreement
relating to the New Borrowing Subsidiary and this Agreement are true and
correct on and as of the date hereof, other than representations given as of a
particular date, in which case they shall be true and correct as of that date.
[The Company and the New Borrowing Subsidiary further represent and warrant
that the execution, delivery and
performance by the New Borrowing Subsidiary of the transactions contemplated
under this Agreement and the use of any of the proceeds raised in connection
with this Agreement will not contravene or conflict with the provisions of
section 151 of the Companies Act 1985 of England and Wales (as amended).]1[INSERT
OTHER PROVISIONS REASONABLY REQUESTED BY ADMINISTRATIVE AGENT OR ITS COUNSELS]
The Company agrees that the Guarantee of the Company contained in the Credit
Agreement will apply to the Obligations of the New Borrowing Subsidiary. Upon
execution of this Agreement by each of the Company, the New Borrowing
Subsidiary and the Administrative Agent, the New Borrowing Subsidiary shall be
a party to the Credit Agreement and shall constitute a “Foreign Subsidiary
Borrower” for all purposes thereof, and the New Borrowing Subsidiary hereby
agrees to be bound by all provisions of the Credit Agreement.

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

[Signature Page Follows]

	
 

	

	
1
  To be included only if a New Borrowing Subsidiary will be a Borrower
  organized under the laws of England and Wales.

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

	
 

	
 

	
 

	
 

	
 

	
TENNANT
  COMPANY

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
[NAME OF NEW
  BORROWING SUBSIDIARY]

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
JPMORGAN
  CHASE BANK, NATIONAL

  ASSOCIATION, as Administrative Agent

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
Title:

EXHIBIT F-2

[FORM OF]

BORROWING SUBSIDIARY TERMINATION

JPMorgan Chase
Bank, National Association

as Administrative Agent

for the Lenders referred to below

1 Chase Tower

Chicago, Illinois 60603

Attention: [__________]

[Date]

Ladies and
Gentlemen:

                    The
undersigned, Tennant Company (the “Company”), refers to the Credit
Agreement dated as of June 19, 2007 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among the Company,
the Foreign Subsidiary Borrowers from time to time party thereto and JPMorgan
Chase Bank, National Association, as Administrative Agent. Capitalized terms
used and not otherwise defined herein shall have the meanings assigned to such
terms in the Credit Agreement.

                    The
Company hereby terminates the status of [______________] (the “Terminated
Borrowing Subsidiary”) as a Foreign Subsidiary Borrower under the Credit
Agreement. [The Company represents and warrants that no Loans made to the
Terminated Borrowing Subsidiary are outstanding as of the date hereof and that
all amounts payable by the Terminated Borrowing Subsidiary in respect of
interest and/or fees (and, to the extent notified by the Administrative Agent
or any Lender, any other amounts payable under the Credit Agreement) pursuant
to the Credit Agreement have been paid in full on or prior to the date hereof.]
[The Company acknowledges that the Terminated Borrowing Subsidiary shall continue
to be a Borrower until such time as all Loans made to the Terminated Borrowing
Subsidiary shall have been prepaid and all amounts payable by the Terminated
Borrowing Subsidiary in respect of interest and/or fees (and, to the extent
notified by the Administrative Agent or any Lender, any other amounts payable
under the Credit Agreement) pursuant to the Credit Agreement shall have been
paid in full, provided that the Terminated Borrowing Subsidiary shall
not have the right to make further Borrowings under the Credit Agreement.]

[Signature Page Follows]

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

	
 

	
 

	
 

	
 

	
 

	
Very truly
  yours,

	
 

	
 

	
 

	
TENNANT
  COMPANY

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
Title:

	
 

	
 

	
Copy to:

	
JPMorgan
  Chase Bank, National Association

	
 

	
  270 Park
  Avenue

	
 

	
  New York,
  New York 10017

2

EXHIBIT G

[FORM OF]

SUBSIDIARY GUARANTY

GUARANTY

                    THIS
GUARANTY (this “Guaranty”) is made as of June 19, 2007, by and among
each of the undersigned (the “Initial Guarantors” and along with any additional
Subsidiaries of the Company which become parties to this Guaranty by executing
a supplement hereto in the form attached as Annex I, the “Guarantors”)
in favor of the Administrative Agent, for the ratable benefit of the Holders of
Obligations (as defined below), under the Credit Agreement referred to below.

WITNESSETH

                    WHEREAS,
Tennant Company, a Minnesota corporation (the “Company”), the Foreign
Subsidiary Borrowers parties thereto (the “Foreign Subsidiary Borrowers”
and, together with the Company, the “Borrowers”), the institutions from
time to time parties thereto as lenders (the “Lenders”), and JPMorgan
Chase Bank, National Association, as administrative agent (the “Administrative
Agent”) have entered into a certain Credit Agreement dated as of June 19,
2007 (as the same may be amended, modified, supplemented and/or restated, and
as in effect from time to time, the “Credit Agreement”), providing,
subject to the terms and conditions thereof, for extensions of credit and other
financial accommodations to be made by the Lenders to the Borrowers;

                    WHEREAS,
it is a condition precedent to the extensions of credit by the Lenders under
the Credit Agreement that each of the Guarantors (constituting all of the
Subsidiary Guarantors required to execute this Guaranty pursuant to Section
5.09 of the Credit Agreement) execute and deliver this Guaranty, whereby each
of the Guarantors shall guarantee the payment when due of all Obligations; and

                    WHEREAS,
in consideration of the direct and indirect financial and other support that
the Borrowers have provided, and such direct and indirect financial and other
support as the Borrowers may in the future provide, to the Guarantors, and in
order to induce the Lenders and the Administrative Agent to enter into the
Credit Agreement, each of the Guarantors is willing to guarantee the
Obligations of the Borrowers;

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

                    SECTION
1. Definitions. Terms defined in the Credit Agreement and not otherwise
defined herein have, as used herein, the respective meanings provided for
therein.

                    SECTION
2. Representations, Warranties and Covenants. Each of the Guarantors
represents and warrants (which representations and warranties shall be deemed
to have been renewed at the time of the making, conversion or continuation of
any Loan or issuance of any Letter of Credit) that:

	
 

	
 

	
 

	
          (A)
  It is a corporation, partnership or limited liability company duly and
  properly incorporated or organized, as the case may be, validly existing and
  (to the extent such concept 

	
 

	
 

	
 

	
applies to
  such entity) in good standing under the laws of its jurisdiction of
  incorporation, organization or formation and has all requisite authority to conduct
  its business in each jurisdiction in which its business is conducted, except
  to the extent that the failure to have such authority could not reasonably be
  expected to have a Material Adverse Effect.

	
 

	
 

	
 

	
          (B)
  It (to the extent applicable) has the requisite power and authority and legal
  right to execute and deliver this Guaranty and to perform its obligations
  hereunder. The execution and delivery by each Guarantor of this Guaranty and
  the performance by each of its obligations hereunder have been duly
  authorized by proper proceedings, and this Guaranty constitutes a legal,
  valid and binding obligation of such Guarantor, respectively, enforceable
  against such Guarantor, respectively, in accordance with its terms, except as
  enforceability may be limited by bankruptcy, insolvency or similar laws
  affecting the enforcement of creditors’ rights generally.

	
 

	
 

	
 

	
          (C)
  Neither the execution and delivery by it of this Guaranty, nor the
  consummation by it of the transactions herein contemplated, nor compliance by
  it with the provisions hereof will (i) violate any law, rule, regulation,
  order, writ, judgment, injunction, decree or award binding on it or its
  articles or certificate of incorporation (or equivalent charter documents),
  limited liability company or partnership agreement, certificate of
  partnership, articles or certificate of organization, by-laws, or operating
  agreement or other management agreement, as the case may be, or the
  provisions of any indenture, instrument or agreement to which any of the
  Borrowers or any of its Subsidiaries is a party or is subject, or by which
  it, or its property, is bound, or (ii) conflict with, or constitute a default
  under, or result in, or require, the creation or imposition of any Lien in,
  of or on its property pursuant to the terms of, any such indenture,
  instrument or agreement (other than any Loan Document). No order, consent,
  adjudication, approval, license, authorization, or validation of, or filing,
  recording or registration with, or exemption by, or other action in respect
  of any governmental or public body or authority, or any subdivision thereof,
  which has not been obtained by it, is required to be obtained by it in
  connection with the execution, delivery and performance by it of, or the
  legality, validity, binding effect or enforceability against it of, this
  Guaranty.

                    In
addition to the foregoing, each of the Guarantors covenants that, so long as
any Lender has any Commitment outstanding under the Credit Agreement or any
amount payable under the Credit Agreement or any other Guaranteed Obligations
shall remain unpaid, it will, and, if necessary, will enable each of the
Borrowers to, fully comply with those covenants and agreements of such Borrower
applicable to such Guarantor set forth in the Credit Agreement.

                    SECTION
3. The Guaranty. Each of the Guarantors hereby unconditionally
guarantees, jointly with the other Guarantors and severally, the full and
punctual payment and performance when due (whether at stated maturity, upon
acceleration or otherwise) of the Obligations, including, without limitation,
(i) the principal of and interest on each Loan made to any Borrower pursuant to
the Credit Agreement, (ii) any obligations of any Borrower to reimburse LC Disbursements
(“Reimbursement Obligations”), (iii) all obligations of any Borrower
owing to any Lender or any affiliate of any Lender under any Swap Agreement or
Banking Services Agreement, (iv) all other amounts payable by any Borrower or
any of its Subsidiaries under the Credit Agreement, any Swap Agreement, any
Banking Services Agreement and the other Loan Documents and (v) the punctual
and faithful performance, keeping, observance, and fulfillment by any Borrower
of all of the agreements, conditions, covenants, and obligations of such
Borrower contained in the Loan Documents (all of the foregoing being referred
to collectively as the “Guaranteed Obligations” and the holders from time to
time of the Guaranteed Obligations being referred to collectively as the “Holders
of Guaranteed Obligations”). Upon (x) the failure by any Borrower or any of
its Affiliates, as applicable, to pay punctually any such amount or perform
such obligation, and (y) such failure continuing beyond any applicable grace or
notice and cure

2

period, each
of the Guarantors agrees that it shall forthwith on demand pay such amount or
perform such obligation at the place and in the manner specified in the Credit
Agreement, any Swap Agreement, any Banking Services Agreement or the relevant
Loan Document, as the case may be. Each of the Guarantors hereby agrees that
this Guaranty is an absolute, irrevocable and unconditional guaranty of payment
and is not a guaranty of collection.

                    SECTION
4. Guaranty Unconditional. The obligations of each of the Guarantors
hereunder shall be unconditional and absolute and, without limiting the
generality of the foregoing, shall not be released, discharged or otherwise
affected by:

	
 

	
 

	
 

	
          (A)
  any extension, renewal, settlement, indulgence, compromise, waiver or release
  of or with respect to the Guaranteed Obligations or any part thereof or any
  agreement relating thereto, or with respect to any obligation of any other
  guarantor of any of the Guaranteed Obligations, whether (in any such case) by
  operation of law or otherwise, or any failure or omission to enforce any
  right, power or remedy with respect to the Guaranteed Obligations or any part
  thereof or any agreement relating thereto, or with respect to any obligation
  of any other guarantor of any of the Guaranteed Obligations;

	
 

	
 

	
 

	
          (B)
  any modification or amendment of or supplement to the Credit Agreement, any
  Swap Agreement, any Banking Services Agreement or any other Loan Document,
  including, without limitation, any such amendment which may increase the
  amount of, or the interest rates applicable to, any of the Obligations
  guaranteed hereby;

	
 

	
 

	
 

	
          (C)
  any release, surrender, compromise, settlement, waiver, subordination or
  modification, with or without consideration, of any collateral securing the
  Guaranteed Obligations or any part thereof, any other guaranties with respect
  to the Guaranteed Obligations or any part thereof, or any other obligation of
  any person or entity with respect to the Guaranteed Obligations or any part
  thereof, or any nonperfection or invalidity of any direct or indirect
  security for the Guaranteed Obligations;

	
 

	
 

	
 

	
          (D)
  any change in the corporate, partnership or other existence, structure or
  ownership of any Borrower or any other guarantor of any of the Guaranteed
  Obligations, or any insolvency, bankruptcy, reorganization or other similar
  proceeding affecting such Borrower or any other guarantor of the Guaranteed
  Obligations, or any of their respective assets or any resulting release or discharge
  of any obligation of such Borrower or any other guarantor of any of the
  Guaranteed Obligations;

	
 

	
 

	
 

	
          (E)
  the existence of any claim, setoff or other rights which the Guarantors may
  have at any time against any Borrower, any other guarantor of any of the
  Guaranteed Obligations, the Administrative Agent, any Holder of Guaranteed
  Obligations or any other Person, whether in connection herewith or in
  connection with any unrelated transactions; provided that nothing herein
  shall prevent the assertion of any such claim by separate suit or compulsory
  counterclaim;

	
 

	
 

	
 

	
          (F)
  the enforceability or validity of the Guaranteed Obligations or any part
  thereof or the genuineness, enforceability or validity of any agreement
  relating thereto or with respect to any collateral securing the Guaranteed
  Obligations or any part thereof, or any other invalidity or unenforceability
  relating to or against any Borrower or any other guarantor of any of the
  Guaranteed Obligations, for any reason related to the Credit Agreement, any
  Swap Agreement, any Banking Services Agreement, any other Loan Document, or
  any provision of applicable law decree, order or regulation of any
  jurisdiction purporting to prohibit the payment by such 

3

	
 

	
 

	
 

	
Borrower or
  any other guarantor of the Guaranteed Obligations, of any of the Guaranteed
  Obligations or otherwise affecting any term of any of the Guaranteed
  Obligations;

	
 

	
 

	
 

	
          (G)
  the failure of the Administrative Agent to take any steps to perfect and
  maintain any security interest in, or to preserve any rights to, any security
  or collateral for the Guaranteed Obligations, if any;

	
 

	
 

	
 

	
          (H)
  the election by, or on behalf of, any one or more of the Holders of
  Guaranteed Obligations, in any proceeding instituted under Chapter 11 of
  Title 11 of the United States Code (11 U.S.C. 101 et seq.) (the “Bankruptcy
  Code”), of the application of Section 1111(b)(2) of the Bankruptcy Code;

	
 

	
 

	
 

	
          (I)
  any borrowing or grant of a security interest by any Borrower, as debtor-in-possession,
  under Section 364 of the Bankruptcy Code;

	
 

	
 

	
 

	
          (J)
  the disallowance, under Section 502 of the Bankruptcy Code, of all or any
  portion of the claims of the Holders of Guaranteed Obligations or the
  Administrative Agent for repayment of all or any part of the Guaranteed
  Obligations;

	
 

	
 

	
 

	
          (K)
  the failure of any other guarantor to sign or become party to this Guaranty
  or any amendment, change, or reaffirmation hereof; or

	
 

	
 

	
 

	
          (L)
  any other act or omission to act or delay of any kind by any Borrower, any
  other guarantor of the Guaranteed Obligations, the Administrative Agent, any
  Holder of Obligations or any other Person or any other circumstance
  whatsoever which might, but for the provisions of this Section 4, constitute
  a legal or equitable discharge of any Guarantor’s obligations hereunder
  except as provided in Section 5.

                    SECTION
5. Discharge Only Upon Payment In Full: Reinstatement In Certain
Circumstances. Each of the Guarantors’ obligations hereunder shall remain
in full force and effect until all Guaranteed Obligations shall have been paid
in full in cash and the Commitments and all Letters of Credit issued under the
Credit Agreement shall have terminated or expired. If at any time any payment of
the principal of or interest on any Loan, any Reimbursement Obligation or any
other amount payable by any Borrower or any other party under the Credit
Agreement, any Swap Agreement, any Banking Services Agreement or any other Loan
Document is rescinded or must be otherwise restored or returned upon the
insolvency, bankruptcy or reorganization of any Borrower or otherwise, each of
the Guarantors’ obligations hereunder with respect to such payment shall be
reinstated as though such payment had been due but not made at such time. The
parties hereto acknowledge and agree that each of the Guaranteed Obligations
shall be due and payable in the same currency as such Guaranteed Obligation is
denominated but if currency control or exchange regulations are imposed in the
country which issues such currency with the result such currency (the “Original
Currency”) no longer exists or the relevant Guarantor is not able to make
payment in such Original Currency, then all payments to be made by such
Guarantor hereunder in such currency shall instead be made when due in Dollars
in an amount equal to the Dollar Amount (as of the date of payment) of such
payment due, it being the intention of the parties hereto that each Guarantor
takes all risks of the imposition of any such currency control or exchange
regulations.

                    SECTION
6. General Waivers; Additional Waivers.

	
 

	
 

	
 

	
          (A)
  General Waivers. Each of the Guarantors irrevocably waives acceptance hereof,
  presentment, demand or action on delinquency, protest, the benefit of any
  statutes of limitations and, to the fullest extent permitted by law, any
  notice not provided for herein, as well as any 

4

	
 

	
 

	
 

	
requirement
  that at any time any action be taken by any Person against any Borrower, any
  other guarantor of the Guaranteed Obligations, or any other Person.

	
 

	
 

	
 

	
          (B)
  Additional Waivers. Notwithstanding anything herein to the contrary, each of
  the Guarantors hereby absolutely, unconditionally, knowingly, and expressly
  waives:

	
 

	
 

	
 

	
      (i)
  any right it may have to revoke this Guaranty as to future indebtedness or
  notice of acceptance hereof;

	
 

	
 

	
 

	
      (ii)
  (a) notice of acceptance hereof; (b) notice of any loans or other financial
  accommodations made or extended under the Loan Documents or the creation or
  existence of any Guaranteed Obligations; (c) notice of the amount of the
  Guaranteed Obligations, subject, however, to each Guarantor’s right to make
  inquiry of Administrative Agent and Holders of Guaranteed Obligations to
  ascertain the amount of the Guaranteed Obligations at any reasonable time;
  (d) notice of any adverse change in the financial condition of any Borrower
  or of any other fact that might increase such Guarantor’s risk hereunder; (e)
  notice of presentment for payment, demand, protest, and notice thereof as to
  any instruments among the Loan Documents; (f) notice of any Default or Event
  of Default; and (g) all other notices (except if such notice is specifically
  required to be given to such Guarantor hereunder or under the Loan Documents)
  and demands to which each Guarantor might otherwise be entitled;

	
 

	
 

	
 

	
      (iii)
  its right, if any, to require the Administrative Agent and the other Holders
  of Guaranteed Obligations to institute suit against, or to exhaust any rights
  and remedies which the Administrative Agent and the other Holders of
  Guaranteed Obligations has or may have against, the other Guarantors or any
  third party, or against any Pledged Equity provided by the other Guarantors,
  or any third party; and each Guarantor further waives any defense arising by
  reason of any disability or other defense (other than the defense that the
  Guaranteed Obligations shall have been fully and finally performed and
  indefeasibly paid) of the other Guarantors or by reason of the cessation from
  any cause whatsoever of the liability of the other Guarantors in respect
  thereof;

	
 

	
 

	
 

	
      (iv)
  (a) any rights to assert against the Administrative Agent and the other
  Holders of Guaranteed Obligations any defense (legal or equitable), set-off,
  counterclaim, or claim which such Guarantor may now or at any time hereafter
  have against the other Guarantors or any other party liable to the
  Administrative Agent and the other Holders of Guaranteed Obligations; (b) any
  defense, set-off, counterclaim, or claim, of any kind or nature, arising
  directly or indirectly from the present or future lack of perfection,
  sufficiency, validity, or enforceability of the Guaranteed Obligations or any
  security therefor; (c) any defense such Guarantor has to performance
  hereunder, and any right such Guarantor has to be exonerated, arising by
  reason of: the impairment or suspension of the Administrative Agent’s and the
  other Holders of Guaranteed Obligations’ rights or remedies against the other
  Guarantors; the alteration by the Administrative Agent and the other Holders
  of Guaranteed Obligations of the Guaranteed Obligations; any discharge of the
  other Guarantors’ obligations to the Administrative Agent and the other
  Holders of Guaranteed Obligations by operation of law as a result of the Administrative
  Agent’s and the other Holders of Guaranteed Obligations’ intervention or
  omission; or the acceptance by the Administrative Agent and the other Holders
  of Guaranteed Obligations of anything in partial satisfaction of the
  Guaranteed Obligations; and (d) the benefit of any statute of limitations
  affecting such Guarantor’s liability hereunder or the enforcement thereof,
  and any act which shall defer or delay the operation of any statute of
  limitations applicable to the Guaranteed Obligations shall similarly operate
  to defer or delay

5

	
 

	
 

	
 

	
the
  operation of such statute of limitations applicable to such Guarantor’s
  liability hereunder; and

	
 

	
 

	
 

	
       (v)
  any defense arising by reason of or deriving from (a) any claim or defense
  based upon an election of remedies by the Administrative Agent and the other
  Holders of Guaranteed Obligations; or (b) any election by the Administrative
  Agent and the other Holders of Guaranteed Obligations under Section 1111(b)
  of Title 11 of the United States Code entitled “Bankruptcy”, as now and
  hereafter in effect (or any successor statute), to limit the amount of, or
  any collateral securing, its claim against the Guarantors.

	
 

	
 

	
 

	
       SECTION
7. Subordination of Subrogation; Subordination of Intercompany Indebtedness.

	
 

	
 

	
 

	
          (A)
  Subordination of Subrogation. Until the Guaranteed Obligations have
  been fully and finally performed and indefeasibly paid in full in cash, the
  Guarantors (i) shall have no right of subrogation with respect to such
  Guaranteed Obligations and (ii) waive any right to enforce any remedy which
  the Holders of Guaranteed Obligations, the Issuing Bank or the Administrative
  Agent now have or may hereafter have against any Borrower, any endorser or
  any guarantor of all or any part of the Guaranteed Obligations or any other
  Person, and the Guarantors waive any benefit of, and any right to participate
  in, any security or collateral given to the Holders of Guaranteed
  Obligations, the Issuing Bank and the Administrative Agent to secure the payment
  or performance of all or any part of the Guaranteed Obligations or any other
  liability of any Borrower to the Holders of Guaranteed Obligations or the
  Issuing Bank. Should any Guarantor have the right, notwithstanding the
  foregoing, to exercise its subrogation rights, each Guarantor hereby
  expressly and irrevocably (A) subordinates any and all rights at law or in
  equity to subrogation, reimbursement, exoneration, contribution,
  indemnification or set off that such Guarantor may have to the indefeasible payment
  in full in cash of the Guaranteed Obligations and (B) waives any and all
  defenses available to a surety, guarantor or accommodation co-obligor until
  the Guaranteed Obligations are indefeasibly paid in full in cash. Each
  Guarantor acknowledges and agrees that this subordination is intended to
  benefit the Administrative Agent and the other Holders of Guaranteed
  Obligations and shall not limit or otherwise affect such Guarantor’s
  liability hereunder or the enforceability of this Guaranty, and that the Administrative
  Agent, the other Holders of Guaranteed Obligations and their respective
  successors and assigns are intended third party beneficiaries of the waivers
  and agreements set forth in this Section 7(A).

	
 

	
 

	
 

	
          (B)
  Subordination of Intercompany Indebtedness. Each Guarantor agrees that
  any and all claims of such Guarantor against any Borrower or any other
  Guarantor hereunder (each an “Obligor”) with respect to any
  “Intercompany Indebtedness” (as hereinafter defined), any endorser, obligor
  or any other guarantor of all or any part of the Guaranteed Obligations, or
  against any of its properties shall be subordinate and subject in right of
  payment to the prior payment, in full and in cash, of all Guaranteed
  Obligations; provided that, as long as no Event of Default has occurred and
  is continuing, such Guarantor may receive payments of principal and interest
  from any Obligor with respect to Intercompany Indebtedness. Notwithstanding
  any right of any Guarantor to ask, demand, sue for, take or receive any
  payment from any Obligor, all rights, liens and security interests of such
  Guarantor, whether now or hereafter arising and howsoever existing, in any
  assets of any other Obligor shall be and are subordinated to the rights of
  the Holders of Guaranteed Obligations and the Administrative Agent in those
  assets. No Guarantor shall have any right to possession of any such asset or
  to foreclose upon any such asset, whether by judicial action or otherwise,
  unless and until all of the Guaranteed Obligations shall have been fully paid
  and satisfied (in cash) and all financing arrangements pursuant to any Loan
  Document, any Swap Agreement or any Banking Services Agreement have been
  terminated. If 

6

	
 

	
 

	
 

	
all or any
  part of the assets of any Obligor, or the proceeds thereof, are subject to
  any distribution, division or application to the creditors of such Obligor,
  whether partial or complete, voluntary or involuntary, and whether by reason
  of liquidation, bankruptcy, arrangement, receivership, assignment for the benefit
  of creditors or any other action or proceeding, or if the business of any
  such Obligor is dissolved or if substantially all of the assets of any such
  Obligor are sold, then, and in any such event (such events being herein
  referred to as an “Insolvency Event”), any payment or distribution of
  any kind or character, either in cash, securities or other property, which
  shall be payable or deliverable upon or with respect to any indebtedness of
  any Obligor to any Guarantor (“Intercompany Indebtedness”) shall be
  paid or delivered directly to the Administrative Agent for application on any
  of the Guaranteed Obligations, due or to become due, until such Guaranteed
  Obligations shall have first been fully paid and satisfied (in cash). Should
  any payment, distribution, security or instrument or proceeds thereof be
  received by the applicable Guarantor upon or with respect to the Intercompany
  Indebtedness after any Insolvency Event and prior to the satisfaction of all
  of the Guaranteed Obligations and the termination of all financing
  arrangements pursuant to any Loan Document among any Borrower and the Holders
  of Guaranteed Obligations, such Guarantor shall receive and hold the same in
  trust, as trustee, for the benefit of the Holders of Guaranteed Obligations
  and shall forthwith deliver the same to the Administrative Agent, for the
  benefit of the Holders of Guaranteed Obligations, in precisely the form
  received (except for the endorsement or assignment of the Guarantor where
  necessary), for application to any of the Guaranteed Obligations, due or not
  due, and, until so delivered, the same shall be held in trust by the
  Guarantor as the property of the Holders of Guaranteed Obligations. If any
  such Guarantor fails to make any such endorsement or assignment to the Administrative
  Agent, the Administrative Agent or any of its officers or employees is
  irrevocably authorized to make the same. Each Guarantor agrees that until the
  Guaranteed Obligations (other than the contingent indemnity obligations) have
  been paid in full (in cash) and satisfied and all financing arrangements
  pursuant to any Loan Document among any Borrower and the Holders of
  Guaranteed Obligations have been terminated, no Guarantor will assign or
  transfer to any Person (other than the Administrative Agent) any claim any
  such Guarantor has or may have against any Obligor.

                    SECTION
8. Contribution with Respect to Guaranteed Obligations.

	
 

	
 

	
 

	
          (A)
  To the extent that any Guarantor shall make a payment under this Guaranty (a
  “Guarantor Payment”) which, taking into account all other Guarantor
  Payments then previously or concurrently made by any other Guarantor, exceeds
  the amount which otherwise would have been paid by or attributable to such
  Guarantor if each Guarantor had paid the aggregate Guaranteed Obligations
  satisfied by such Guarantor Payment in the same proportion as such
  Guarantor’s “Allocable Amount” (as defined below) (as determined immediately
  prior to such Guarantor Payment) bore to the aggregate Allocable Amounts of
  each of the Guarantors as determined immediately prior to the making of such
  Guarantor Payment, then, following indefeasible payment in full in cash of
  the Guaranteed Obligations and termination of the Credit Agreement, the Swap
  Agreements and the Banking Services Agreements, such Guarantor shall be
  entitled to receive contribution and indemnification payments from, and be
  reimbursed by, each other Guarantor for the amount of such excess, pro rata
  based upon their respective Allocable Amounts in effect immediately prior to
  such Guarantor Payment.

	
 

	
 

	
 

	
          (B)
  As of any date of determination, the “Allocable Amount” of any Guarantor
  shall be equal to the maximum amount of the claim which could then be
  recovered from such Guarantor under this Guaranty without rendering such
  claim voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy
  Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform
  Fraudulent Conveyance Act or similar statute or common law.

7

	
 

	
 

	
 

	
          (C)
  This Section 8 is intended only to define the relative rights of the
  Guarantors, and nothing set forth in this Section 8 is intended to or shall
  impair the obligations of the Guarantors, jointly and severally, to pay any
  amounts as and when the same shall become due and payable in accordance with
  the terms of this Guaranty.

	
 

	
 

	
 

	
          (D)
  The parties hereto acknowledge that the rights of contribution and
  indemnification hereunder shall constitute assets of the Guarantor or
  Guarantors to which such contribution and indemnification is owing.

	
 

	
 

	
 

	
          (E)
  The rights of the indemnifying Guarantors against other Guarantors under this
  Section 8 shall be exercisable upon the full and indefeasible payment of the
  Guaranteed Obligations in cash and the termination of the Credit Agreement,
  the Swap Agreements and the Banking Services Agreements.

                    SECTION
9. Stay of Acceleration. If acceleration of the time for payment of any
amount payable by any Borrower under the Credit Agreement, any Swap Agreement,
any Banking Services Agreement or any other Loan Document is stayed upon the
insolvency, bankruptcy or reorganization of such Borrower, all such amounts
otherwise subject to acceleration under the terms of the Credit Agreement, any
Swap Agreement, any Banking Services Agreement or any other Loan Document shall
nonetheless be payable by each of the Guarantors hereunder forthwith on demand
by the Administrative Agent.

                    SECTION
10. Notices. All notices, requests and other communications to any party
hereunder shall be given in the manner prescribed in Article IX of the Credit
Agreement with respect to the Administrative Agent at its notice address
therein and with respect to any Guarantor, in care of the Company at the
address of the Company set forth in the Credit Agreement or such other address
or telecopy number as such party may hereafter specify for such purpose by
notice to the Administrative Agent in accordance with the provisions of such
Article IX.

                    SECTION
11. No Waivers. No failure or delay by the Administrative Agent or any
other Holder of Guaranteed Obligations in exercising any right, power or
privilege hereunder shall operate as a waiver thereof nor shall any single or
partial exercise thereof preclude any other or further exercise thereof or the
exercise of any other right, power or privilege. The rights and remedies
provided in this Guaranty, the Credit Agreement, any Swap Agreement, any
Banking Services Agreement and the other Loan Documents shall be cumulative and
not exclusive of any rights or remedies provided by law.

                    SECTION
12. Successors and Assigns. This Guaranty is for the benefit of the
Administrative Agent and the other Holders of Guaranteed Obligations and their
respective successors and permitted assigns; provided, that no Guarantor shall
have any right to assign its rights or obligations hereunder without the
consent of all of the Lenders, and any such assignment in violation of this
Section 12 shall be null and void; and in the event of an assignment of any
amounts payable under the Credit Agreement, any Swap Agreement, any Banking
Services Agreement or the other Loan Documents in accordance with the
respective terms thereof, the rights hereunder, to the extent applicable to the
indebtedness so assigned, may be transferred with such indebtedness. This
Guaranty shall be binding upon each of the Guarantors and their respective
successors and assigns.

                    SECTION
13. Changes in Writing. Other than in connection with the addition of
additional Subsidiaries, which become parties hereto by executing a supplement
hereto in the form attached as Annex I, neither this Guaranty nor any provision
hereof may be changed, waived, discharged 

8

or terminated
orally, but only in writing signed by each of the Guarantors and the
Administrative Agent with the consent of the Required Lenders under the Credit
Agreement.

                    SECTION
14. GOVERNING LAW. THIS GUARANTY SHALL BE CONSTRUED IN ACCORDANCE WITH
AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

                    SECTION
15. CONSENT TO JURISDICTION; SERVICE OF PROCESS; JURY TRIAL; IMMUNITY.

	
 

	
 

	
 

	
          (A)
  CONSENT TO JURISDICTION. EACH GUARANTOR HEREBY IRREVOCABLY SUBMITS TO THE
  NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE
  COURT SITTING IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT
  OF OR RELATING TO THIS GUARANTY AND EACH GUARANTOR HEREBY IRREVOCABLY AGREES
  THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND
  DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW
  OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING
  BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING
  HEREIN SHALL LIMIT THE RIGHT OF THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR
  ANY LENDER TO BRING PROCEEDINGS AGAINST ANY GUARANTOR IN THE COURTS OF ANY
  OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY ANY GUARANTOR AGAINST THE
  ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY LENDER OR ANY AFFILIATE OF THE
  ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY LENDER INVOLVING, DIRECTLY OR
  INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED
  WITH THIS GUARANTY OR ANY OTHER LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A
  COURT IN THE CITY OF NEW YORK.

	
 

	
 

	
 

	
          (B)
  EACH GUARANTOR WHICH IS A FOREIGN SUBSIDIARY (A “FOREIGN GUARANTOR”)
  IRREVOCABLY DESIGNATES AND APPOINTS THE COMPANY, AS ITS AUTHORIZED AGENT, TO
  ACCEPT AND ACKNOWLEDGE ON ITS BEHALF, SERVICE OF ANY AND ALL PROCESS WHICH
  MAY BE SERVED IN ANY SUIT, ACTION OR PROCEEDING OF THE NATURE REFERRED TO IN
  CLAUSE (A) ABOVE. SAID DESIGNATION AND APPOINTMENT SHALL BE IRREVOCABLE BY
  EACH SUCH FOREIGN GUARANTOR UNTIL ALL GUARANTEED OBLIGATIONS PAYABLE BY SUCH
  FOREIGN GUARANTOR HEREUNDER AND UNDER THE OTHER LOAN DOCUMENTS SHALL HAVE
  BEEN PAID IN FULL IN ACCORDANCE WITH THE PROVISIONS HEREOF AND THEREOF. EACH
  FOREIGN GUARANTOR HEREBY CONSENTS TO PROCESS BEING SERVED IN ANY SUIT, ACTION
  OR PROCEEDING OF THE NATURE REFERRED TO IN CLAUSE (A) ABOVE BY SERVICE OF
  PROCESS UPON THE COMPANY AS PROVIDED IN THIS CLAUSE (B); PROVIDED
  THAT, TO THE EXTENT LAWFUL AND POSSIBLE, NOTICE OF SAID SERVICE UPON SUCH
  AGENT SHALL BE MAILED BY REGISTERED OR CERTIFIED AIR MAIL, POSTAGE PREPAID, RETURN
  RECEIPT REQUESTED, TO THE COMPANY OR TO ANY OTHER ADDRESS OF WHICH SUCH
  FOREIGN GUARANTOR SHALL HAVE GIVEN WRITTEN NOTICE TO THE ADMINISTRATIVE AGENT
  (WITH A COPY THEREOF TO THE COMPANY). EACH FOREIGN GUARANTOR IRREVOCABLY
  WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ALL CLAIM OF ERROR BY REASON
  OF ANY SUCH SERVICE IN SUCH MANNER AND AGREES THAT SUCH SERVICE SHALL BE
  DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON SUCH FOREIGN
  GUARANTOR IN ANY SUCH SUIT, ACTION OR PROCEEDING AND SHALL, TO THE 

9

	
 

	
 

	
 

	
FULLEST
  EXTENT PERMITTED BY LAW, BE TAKEN AND HELD TO BE VALID AND PERSONAL SERVICE
  UPON AND PERSONAL DELIVERY TO SUCH FOREIGN GUARANTOR. NOTHING HEREIN WILL
  AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER
  PERMITTED BY LAW.

	
 

	
 

	
 

	
          (C)
  WAIVER OF JURY TRIAL. EACH GUARANTOR HEREBY WAIVES TRIAL BY JURY IN ANY
  JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER
  SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED
  TO, OR CONNECTED WITH THIS GUARANTY OR ANY OTHER LOAN DOCUMENT OR THE
  RELATIONSHIP ESTABLISHED THEREUNDER AND FURTHER WAIVES ANY RIGHT TO INTERPOSE
  ANY COUNTERCLAIM RELATED TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED
  HEREBY IN SUCH ACTION.

	
 

	
 

	
 

	
          (D)
  TO THE EXTENT THAT ANY GUARANTOR HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY
  FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER FROM
  SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF
  EXECUTION OF A JUDGMENT, EXECUTION OR OTHERWISE), EACH GUARANTOR HEREBY
  IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS
  GUARANTY.

                    SECTION
16. No Strict Construction. The parties hereto have participated jointly
in the negotiation and drafting of this Guaranty. In the event an ambiguity or
question of intent or interpretation arises, this Guaranty shall be construed
as if drafted jointly by the parties hereto and no presumption or burden of
proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Guaranty.

                    SECTION
17. Taxes, Expenses of Enforcement, etc.

	
 

	
 

	
 

	
          (A)
  Taxes.

	
 

	
 

	
 

	
                (i)
  All payments by any Guarantor to or for the account of any Lender, the Issuing
  Bank, the Administrative Agent or any other Holder of Guaranteed Obligations
  hereunder or under any promissory note or application for a Letter of Credit
  shall be made free and clear of and without deduction for any and all Taxes.
  If any Guarantor shall be required by law to deduct any Taxes from or in
  respect of any sum payable hereunder to any Lender, the Issuing Bank, the
  Administrative Agent or any other Holder of Guaranteed Obligations, (a) 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 17(A)) such Lender, the Issuing Bank, the Administrative Agent
  or any other Holder of Guaranteed Obligations (as the case may be) receives
  an amount equal to the sum it would have received had no such deductions been
  made, (b) such Guarantor shall make such deductions, (c) such Guarantor shall
  pay the full amount deducted to the relevant authority in accordance with
  applicable law and (d) such Guarantor shall furnish to the Administrative
  Agent the original copy of a receipt evidencing payment thereof within thirty
  (30) days after such payment is made.

	
 

	
 

	
 

	
                (ii)
  In addition, the Guarantors hereby agree to pay any present or future stamp
  or documentary taxes and any other excise or property taxes, charges or
  similar levies which arise from any payment made hereunder or under any
  promissory note or application for a Letter of Credit or from the execution
  or delivery of, or otherwise with respect to, this Guaranty or any promissory
  note or application for a Letter of Credit (“Other Taxes”).

10

	
 

	
 

	
 

	
                (iii)
  The Guarantors hereby agree to indemnify the Administrative Agent, the
  Issuing Bank, each Lender and any other Holder of Guaranteed Obligations for
  the full amount of Taxes or Other Taxes (including, without limitation, any
  Taxes or Other Taxes imposed on amounts payable under this Section 17(A))
  paid by the Administrative Agent, the Issuing Bank, such Lender or such other
  Holder of Guaranteed Obligations and any liability (including penalties,
  interest and expenses) arising therefrom or with respect thereto. Payments
  due under this indemnification shall be made within thirty (30) days of the
  date the Administrative Agent, the Issuing Bank, such Lender or such other
  Holder of Obligations makes demand therefor.

	
 

	
 

	
 

	
                (iv)
  By accepting the benefits hereof, each Foreign Lender agrees that it will
  comply with Section 2.17(e) of the Credit Agreement.

	
 

	
 

	
 

	
          (B)
  Expenses of Enforcement, Etc. Subject to the terms of the Credit Agreement,
  after the occurrence of an Event of Default under the Credit Agreement, the
  Lenders shall have the right at any time to direct the Administrative Agent
  to commence enforcement proceedings with respect to the Guaranteed
  Obligations. The Guarantors agree to reimburse the Administrative Agent and
  the other Holders of Guaranteed Obligations for any reasonable costs and
  out-of-pocket expenses (including reasonable attorneys’ fees and time charges
  of attorneys for the Administrative Agent and the other Holders of Guaranteed
  Obligations, which attorneys may be employees of the Administrative Agent or
  the other Holders of Guaranteed Obligations) paid or incurred by the
  Administrative Agent or any other Holder of Guaranteed Obligations in
  connection with the collection and enforcement of amounts due under the Loan
  Documents, including without limitation this Guaranty. The Administrative
  Agent agrees to distribute payments received from any of the Guarantors
  hereunder to the other Holders of Guaranteed Obligations on a pro rata basis
  for application in accordance with the terms of the Credit Agreement.

                    SECTION
18. Setoff. At any time after all or any part of the Guaranteed
Obligations have become due and payable (by acceleration or otherwise), each
Holder of Guaranteed Obligations (including the Administrative Agent) may,
without notice to any Guarantor and regardless of the acceptance of any
security or collateral for the payment hereof, appropriate and apply in
accordance with the terms of the Credit Agreement toward the payment of all or
any part of the Guaranteed Obligations (i) any indebtedness due or to become
due from such Holder of Guaranteed Obligations or the Administrative Agent to
any Guarantor, and (ii) any moneys, credits or other property belonging to any
Guarantor, at any time held by or coming into the possession of such Holder of
Guaranteed Obligations (including the Administrative Agent) or any of their
respective affiliates.

                    SECTION
19. Financial Information. Each Guarantor hereby assumes responsibility
for keeping itself informed of the financial condition of each of the Borrowers
and any and all endorsers and/or other Guarantors of all or any part of the
Guaranteed Obligations, and of all other circumstances bearing upon the risk of
nonpayment of the Guaranteed Obligations, or any part thereof, that diligent
inquiry would reveal, and each Guarantor hereby agrees that none of the Holders
of Guaranteed Obligations (including the Administrative Agent) shall have any
duty to advise such Guarantor of information known to any of them regarding
such condition or any such circumstances. In the event any Holder of Guaranteed
Obligations (including the Administrative Agent), in its sole discretion,
undertakes at any time or from time to time to provide any such information to
a Guarantor, such Holder of Guaranteed Obligations (including the
Administrative Agent) shall be under no obligation (i) to undertake any
investigation not a part of its regular business routine, (ii) to disclose any
information which such Holder of Guaranteed Obligations (including the
Administrative Agent), pursuant to accepted or 

11

reasonable
commercial finance or banking practices, wishes to maintain confidential or
(iii) to make any other or future disclosures of such information or any other
information to such Guarantor.

                    SECTION
20. Severability. Wherever possible, each provision of this Guaranty
shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Guaranty shall be prohibited by or
invalid under such law, such provision shall be ineffective to the extent of
such prohibition or invalidity without invalidating the remainder of such
provision or the remaining provisions of this Guaranty.

                    SECTION
21. Merger. This Guaranty represents the final agreement of each of the
Guarantors with respect to the matters contained herein and may not be
contradicted by evidence of prior or contemporaneous agreements, or subsequent
oral agreements, between the Guarantor and any Holder of Guaranteed Obligations
(including the Administrative Agent).

                    SECTION
22. Headings. Section headings in this Guaranty are for convenience of
reference only and shall not govern the interpretation of any provision of this
Guaranty.

                    SECTION
23. Judgment Currency. If for the purposes of obtaining judgment in any
court it is necessary to convert a sum due from any Guarantor hereunder in the
currency expressed to be payable herein (the “specified currency”) into
another currency, the parties hereto agree, to the fullest extent that they may
effectively do so, that the rate of exchange used shall be that at which in
accordance with normal banking procedures the Administrative Agent could
purchase the specified currency with such other currency at the Administrative
Agent’s main New York City office on the Business Day preceding that on which
final, non-appealable judgment is given. The obligations of each Guarantor in
respect of any sum due hereunder shall, notwithstanding any judgment in a
currency other than the specified currency, be discharged only to the extent
that on the Business Day following receipt by any Holder of Guaranteed
Obligations (including the Administrative Agent), as the case may be, of any
sum adjudged to be so due in such other currency such Holder of Guaranteed
Obligations (including the Administrative Agent), as the case may be, may in
accordance with normal, reasonable banking procedures purchase the specified
currency with such other currency. If the amount of the specified currency so
purchased is less than the sum originally due to such Holder of Guaranteed
Obligations (including the Administrative Agent), as the case may be, in the
specified currency, each Guarantor agrees, to the fullest extent that it may
effectively do so, as a separate obligation and notwithstanding any such
judgment, to indemnify such Holder of Guaranteed Obligations (including the
Administrative Agent), as the case may be, against such loss, and if the amount
of the specified currency so purchased exceeds (a) the sum originally due to
any Holder of Guaranteed Obligations (including the Administrative Agent), as
the case may be, in the specified currency and (b) amounts shared with other
Holders of Guaranteed Obligations as a result of allocations of such excess as
a disproportionate payment to such other Holder of Guaranteed Obligations under
Section 2.18 of the Credit Agreement, such Holder of Guaranteed Obligations
(including the Administrative Agent), as the case may be, agrees, by accepting
the benefits hereof, to remit such excess to such Guarantor.

Remainder of Page Intentionally Blank.

12

                    IN
WITNESS WHEREOF, each of the Initial Guarantors has caused this Guaranty to be
duly executed by its authorized officer as of the day and year first above
written.

	
 

	
 

	
 

	
 

	
[GUARANTORS]

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	

	
 

	
Name:

	
 

	
Title:

13

	
 

	
 

	
 

	
Acknowledged
  and Agreed

	
as of the
  date first written above:

	
 

	
JPMORGAN
  CHASE BANK, NATIONAL ASSOCIATION

	
 

	
By:

	
 

	

	
Name:

	
Title:

14

ANNEX I TO GUARANTY

                    Reference
is hereby made to the Guaranty (the “Guaranty”) made as of June 19,
2007, by and among [GUARANTORS TO COME] (the “Initial Guarantors” and
along with any additional Subsidiaries of the Company, which become parties
thereto and together with the undersigned, the “Guarantors”) in favor of
the Administrative Agent, for the ratable benefit of the Holders of Guaranteed
Obligations, under the Credit Agreement.
Capitalized terms used herein and not defined herein shall have the
meanings given to them in the Guaranty.
By its execution below, the undersigned [NAME OF NEW GUARANTOR], a
[corporation] [partnership] [limited liability company], agrees to become, and
does hereby become, a Guarantor under the Guaranty and agrees to be bound by
such Guaranty as if originally a party thereto.  By its execution below, the undersigned represents and warrants
as to itself that all of the representations and warranties contained in
Section 2 of the Guaranty are true and correct in all respects as of the date
hereof.

                    IN
WITNESS WHEREOF, [NAME OF NEW GUARANTOR], a [corporation] [partnership]
[limited liability company] has executed and delivered this Annex I counterpart
to the Guaranty as of this __________ day of _________, 20___.

	
 

	
 

	
 

	
 

	
 

	
[NAME OF NEW
  GUARANTOR]

	
 

	
 

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Its:

	
 

	
 

15

EXHIBIT H

[FORM OF]

PLEDGE AGREEMENT

                    THIS
PLEDGE AGREEMENT, dated as of [_______], (as the same may be amended, restated,
supplemented or otherwise modified from time to time, the “Pledge Agreement”),
is entered into by and between Tennant Company, a Minnesota corporation (the “Company”)
and the other Subsidiaries of the Company listed on the signature pages hereof
(together with the Company, the “Initial Pledgors”), and certain other
Subsidiaries of the Company from time to time signatories hereto pursuant to a
supplement in the form of Exhibit A (the Initial Pledgors and each such
other Subsidiary is individually referred to herein as a “Pledgor” and
collectively as the “Pledgors”), and JPMorgan Chase Bank, National
Association, as contractual representative (the “Administrative Agent”)
for itself and for the Secured Parties (as defined in the Credit Agreement
identified below).  Capitalized terms
used herein and not otherwise defined herein (including, without limitation, Section
1 hereof) shall have the respective meanings ascribed to such terms in the
Credit Agreement.

RECITALS:

                    WHEREAS,
the Company, certain Subsidiaries of the Company from time to time parties
thereto as borrowers (together with the Company, the “Borrowers”), the
financial institutions from time to time party thereto as lenders
(collectively, the “Lenders”), and Administrative Agent have entered
into that certain Credit Agreement dated as of June 19, 2007 (as the same may
be amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement” and the agreements, documents and instruments
executed and/or delivered pursuant thereto or in connection therewith,
including, without limitation, any guaranty delivered in connection therewith,
the “Loan Documents”), which Credit Agreement provides, subject to the
terms and conditions thereof, for extensions of credit and other financial
accommodations to be made by the Lenders to or for the benefit of the
Borrowers;

                    WHEREAS,
the Pledgors wish to secure their obligations to the Secured Parties pursuant
to the terms of this Pledge Agreement;

                    WHEREAS,
each of the Pledgors is willing to pledge its capital stock, membership
interests or partnership interests in certain of its Subsidiaries to the
Administrative Agent, for the benefit of the Secured Parties, as security for
the Secured Obligations pursuant to the terms of this Pledge Agreement;

                    WHEREAS,
Schedule I hereto sets forth certain of the Pledgors’ Subsidiaries (the
“Initial Pledged Subsidiaries”);

                    WHEREAS,
additional Subsidiaries of the Company may become Pledgors under this Pledge
Agreement by executing and delivering to the Administrative Agent a supplement
to this Pledge Agreement substantially in the form of Exhibit A
hereto (each such supplement, a “Pledge Supplement”) setting forth
additional Subsidiaries of such Pledgor (the “Supplemental Pledged
Subsidiaries”);

                    WHEREAS,
each Pledgor may from time to time execute and deliver to the Administrative
Agent an amendment to this Pledge Agreement substantially in the form of Exhibit
B hereto (each such amendment, a “Pledge Amendment”) setting forth
additional Subsidiaries of such 

Pledgor (the “Additional
Pledged Subsidiaries”) (the Initial Pledged Subsidiaries, the Additional
Pledged Subsidiaries and the Supplemental Pledged Subsidiaries collectively referred
to herein as the “Pledged Subsidiaries”);

                    NOW,
THEREFORE, for and in consideration of the foregoing and of any financial
accommodations or extensions of credit (including, without limitation, any loan
or advance by renewal, refinancing or extension of the agreements described
hereinabove or otherwise) heretofore, now or hereafter made to or for the
benefit of any Pledgor pursuant to any Loan Document, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Pledgors and the Administrative Agent hereby agree as
follows:

                    SECTION 1. Definitions.  Unless otherwise
defined herein, terms defined in the Credit Agreement are used herein as
therein defined (and, with respect to such terms, the singular shall include
the plural and vice versa and any gender shall include any other gender as the
context may require), and the following terms shall have the following meaning:

                    “Guarantors”
means the Company or any Subsidiary of the Company party to a Subsidiary
Guaranty.

                    “UCC”
shall mean the Uniform Commercial Code as the same may, from time to time, be
in effect in the State of New York, as amended or supplemented from time to
time; provided, however, in the event that, by reason of
mandatory provisions of law, any or all of the attachment, perfection or
priority of the Administrative Agent’s and the Secured Parties’ security
interest in any Pledged Collateral is governed by the Uniform Commercial Code
as in effect in a jurisdiction other than the State of New York, the term “UCC”
shall mean the Uniform Commercial Code as in effect in such other jurisdiction
for purposes of the provisions hereof relating to such attachment, perfection or
priority and for purposes of definitions related to such provisions.  Any and all terms used in this Pledge
Agreement which are defined in the UCC shall be construed and defined in
accordance with the meaning and definition ascribed to such terms under the
UCC, unless otherwise defined herein.

                    SECTION
2. Pledge.  Each Pledgor hereby
pledges to the Administrative Agent, for the benefit of the Administrative
Agent and the Secured Parties, and grants to the Administrative Agent, for the benefit
of the Administrative Agent and the Secured Parties, a security interest in,
the collateral described in subsections (a) through (e) below
(collectively, the “Pledged Collateral”):

	
 

	
 

	
 

	
          (a)
  (i) All of the capital stock of the Pledged Subsidiaries listed on Schedule
  I which are corporations, now or at any time or times hereafter owned
  directly by the Pledgor (such shares being identified on Schedule I
  attached hereto or on any Schedule I attached to any applicable Pledge
  Supplement or Pledge Amendment), and the certificates representing the shares
  of such capital stock, all options and warrants for the purchase of shares of
  the stock of such Pledged Subsidiaries now or hereafter held in the name of
  the Pledgor (all of said capital stock, options and warrants and all capital
  stock held in the name of the Pledgor as a result of the exercise of such
  options or warrants being hereinafter collectively referred to as the “Pledged
  Stock”), herewith, or from time to time, delivered to the Administrative
  Agent accompanied by stock powers in the form of Exhibit C attached
  hereto and made a part hereof (the “Powers”) duly executed in blank,
  and all dividends, cash, instruments, investment property and other property
  from time to time received, receivable or otherwise distributed in respect
  of, or in exchange for, any or all of the Pledged Stock;

	
 

	
 

	
 

	
                    (ii)
  All additional shares of capital stock of the Pledged Subsidiaries described
  in Section 2(a)(i) above from time to time acquired by the Pledgor in
  any manner, and 

17

	
 

	
 

	
 

	
the
  certificates, which shall be delivered to the Administrative Agent
  accompanied by Powers duly executed in blank, representing such additional
  shares (any such additional shares shall constitute part of the Pledged
  Stock, and the Administrative Agent is irrevocably authorized to unilaterally
  amend Schedule I hereto or any Schedule I to any applicable
  Pledge Supplement or Pledge Amendment to reflect such additional shares), and
  all options, warrants, dividends, cash, instruments, investment property and
  other rights and options from time to time received, receivable or otherwise
  distributed in respect of or in exchange for any or all of such shares;

	
 

	
 

	
 

	
          (b)
  (i) All of the membership interests of Pledgor in the Pledged Subsidiaries
  listed on Schedule I which are limited liability companies now or at
  any time or times hereafter owned directly by the Pledgor, and any
  certificates representing such membership interests in the Pledged
  Subsidiaries (such membership interests being identified on Schedule I
  attached hereto or  on any Schedule
  I attached to any applicable Pledge Supplement or Pledge Amendment), all
  of the right, title and interest of the Pledgor in, to and under its
  respective percentage interest, shares or units as a member and all
  investment property in respect of such membership interests, including,
  without limitation, Pledgor’s interest in (or allocation of) the profits,
  losses, income, gains, deductions, credits or similar items of such Pledged
  Subsidiaries and the right to receive distributions of such Pledged
  Subsidiary’s cash, other property, assets, and all options and warrants for
  the purchase of membership interests, whether now existing or hereafter
  arising, whether arising under the terms of the certificates of formation,
  the limited liability company agreements or any of the other organizational
  documents (such documents hereinafter collectively referred to as the “Operating
  Agreements”) of such Pledged Subsidiaries, or at law or in equity, or
  otherwise and any and all of the proceeds thereof (all of said membership
  interests, certificates, and warrants being hereinafter collectively referred
  to as the “Pledged Membership Interests”) herewith delivered, if
  applicable, to the Administrative Agent indorsed in blank or accompanied by
  appropriate instruments of transfer duly executed in blank, and all
  distributions, cash, instruments, investment property and other property from
  time to time received, receivable or otherwise distributed in respect of, or
  in exchange for, any or all of the Pledged Membership Interests;

	
 

	
 

	
 

	
                    (ii)
  Any additional membership interests in the Pledged Subsidiaries described in Section
  2(b)(i) above from time to time acquired by the Pledgor in any manner,
  and any certificates, which, if applicable, shall be delivered to the
  Administrative Agent indorsed in blank or accompanied by appropriate
  instruments of transfer duly executed in blank, representing such additional
  membership interests or any additional percentage interests, shares, units,
  options or warrants of membership interests in Pledged Subsidiaries (any such
  additional interests shall constitute part of the Pledged Membership
  Interests, and the Administrative Agent is irrevocably authorized to
  unilaterally amend Schedule I hereto or any Schedule I to any
  applicable Pledge Supplement or Pledge Amendment from time to time to reflect
  such additional interests), and all options, warrants, distributions,
  investment property, cash, instruments and other rights and options from time
  to time received, receivable or otherwise distributed in respect of or in
  exchange for any or all of such interests, and the Pledgor shall promptly
  thereafter deliver to the Administrative Agent a certificate duly executed by
  the Pledgor describing such percentage interests, certificates, units,
  options or warrants and certifying that the same have been duly pledged
  hereunder;

	
 

	
 

	
 

	
          (c)
  (i) All of the partnership interests of the Pledgor in and to the Pledged
  Subsidiaries listed on Schedule I which are partnerships now or at any
  time or times hereafter owned directly by the Pledgor (such partnership
  interests being identified on Schedule I attached hereto to or on Schedule
  I to any applicable Pledge Supplement or Pledge Amendment), the property
  (and interests in property) that is owned by such Pledged Subsidiaries, all
  of the 

18

	
 

	
 

	
 

	
Pledgor’s
  rights, if any, to participate in the management of such Pledged
  Subsidiaries, all rights, privileges, authority and powers of the Pledgor as
  owner or holder of its partnership interests in such Pledged Subsidiaries,
  including, but not limited to, all contract rights related thereto, all
  rights, privileges, authority and powers relating to the economic interests
  of the Pledgor as owner or holder of its partnership interests in such
  Pledged Subsidiaries, including, without limitation, all contract rights
  related thereto, all options and warrants of the Pledgor for the purchase of
  any partnership interests in such Pledged Subsidiaries, all documents and
  certificates representing or evidencing the Pledgor’s partnership interests
  in such Pledged Subsidiaries, all of the Pledgor’s interest in and to the
  profits and losses of such Pledged Subsidiaries and the Pledgor’s right as a
  partner of such Pledged Subsidiaries to receive distributions of such Pledged
  Subsidiaries’ assets, upon complete or partial liquidation or otherwise, all
  of the Pledgor’s right, title and interest to receive payments of principal
  and interest on any loans and/or other extensions of credit made by the
  Pledgor or its Affiliates to such Pledged Subsidiaries, all distributions,
  cash, instruments, investment property and other property from time to time
  received, receivable or otherwise distributed in respect of, or in exchange
  for, the Pledgor’s partnership interests in such Pledged Subsidiaries, and
  any other right, title, interest, privilege, authority and power of the
  Pledgor in or relating to such Pledged Subsidiaries, all whether now existing
  or hereafter arising, and whether arising under any partnership agreements of
  such Pledged Subsidiaries (as the same may be amended, modified or restated
  from time to time, the “Partnership Agreements”) or otherwise, or at
  law or in equity and all books and records of the Pledgor pertaining to any
  of the foregoing (all of the foregoing being referred to collectively as the
  “Pledged Partnership Interests”);

	
 

	
 

	
 

	
                    (ii)
  Any additional partnership interests in the Pledged Subsidiaries described in
  Section 2(c)(i) above from time to time acquired by the Pledgor in any
  manner (any such additional interests shall constitute part of the Pledged
  Partnership Interests, and the Administrative Agent is irrevocably authorized
  to unilaterally amend Schedule I hereto or any Schedule I to
  any applicable Pledge Supplement or Pledge Amendment from time to time to
  reflect such additional interests), and all options, warrants, distributions,
  investment property, cash, instruments and other rights and options from time
  to time received, receivable or otherwise distributed in respect of or in
  exchange for any or all of such interests, and the Pledgor shall promptly
  thereafter deliver to the Administrative Agent a certificate duly executed by
  the Pledgor describing such percentage interests, options or warrants and
  certifying that the same have been duly pledged hereunder;

                    (d)
The property and interests in property
described in Section 4 below; and

                    (e)
All proceeds of the collateral described in subsections
(a) through (d) above.

Notwithstanding
the foregoing, the Pledged Collateral with respect to any Pledged Subsidiary
which is an Affected Foreign Subsidiary shall not exceed 65% of the equity
interests of such Pledged Subsidiary.

                    SECTION
3. Security for Secured Obligations; Delivery of Pledged Collateral.  The Pledged Collateral secures the prompt
payment, performance and observance of the Secured Obligations.  To the extent that any Pledged Collateral is
now or hereafter becomes evidenced by certificates or instruments, all such
certificates and instruments shall promptly be physically delivered to and held
by or on behalf of the Administrative Agent, pursuant hereto, together with
appropriate signed Powers and other endorsements in form and substance
acceptable to the Administrative Agent.

                    SECTION
4. Pledged Collateral Adjustments.
If, during the term of this Pledge Agreement:

19

	
 

	
 

	
 

	
          (a) Any
  stock dividend, reclassification, readjustment or other change is declared or
  made in the capital structure of any of the Pledged Subsidiaries, or any
  option included within the Pledged Collateral is exercised, or both, or

	
 

	
 

	
 

	
          (b)
  Any subscription warrants or any other rights or options shall be issued in
  connection with the Pledged Collateral,

then all new,
substituted and additional membership or partnership interests, certificates,
shares, warrants, rights, options, investment property or other securities,
issued by reason of any of the foregoing, shall, if applicable, be immediately
delivered to and held by the Administrative Agent under the terms of this
Pledge Agreement and shall constitute Pledged Collateral hereunder; provided,
however, that nothing contained in this Section 4 shall be deemed
to permit any distribution or stock dividend, issuance of additional membership
or partnership interests or stock, warrants, rights or options,
reclassification, readjustment or other change in the capital structure of any
Pledged Subsidiary which is not expressly permitted by the Loan Documents.

                    SECTION
5. Subsequent Changes Affecting Pledged Collateral.  Each Pledgor represents and warrants that it
has made its own arrangements for keeping itself informed of changes or potential
changes affecting the Pledged Collateral (including, but not limited to, rights
to convert, rights to subscribe, payment of dividends, cash distributions or
other distributions, reorganizations or other exchanges, tender offers and
voting rights), and each Pledgor agrees that neither the Administrative Agent
nor any of the Secured Parties shall have any obligation to inform the Pledgors
of any such changes or potential changes or to take any action or omit to take
any action with respect thereto.  The Administrative
Agent may, after the occurrence and during the continuance of an Event of
Default, without notice and at its option, transfer or register the Pledged
Collateral or any part thereof into its or its nominee’s name with or without
any indication that such Pledged Collateral is subject to the security interest
hereunder.  In addition, the
Administrative Agent may, after the occurrence and during the continuance of an
Event of Default, exchange certificates or instruments representing or
evidencing Pledged Stock, Pledged Membership Interests or Pledged Partnership
Interests for certificates or instruments of smaller or larger denominations.

                    SECTION
6. Representations and Warranties.
Each Pledgor represents and warrants as follows:

	
 

	
 

	
 

	
          (a)
  Each Pledgor is the sole legal and beneficial owner of the percentage of the
  issued and outstanding common stock, membership interests or partnership
  interests, as applicable, of the Pledged Subsidiaries, set forth opposite the
  name of such Pledged Subsidiary on Schedule I hereto, free and clear
  of any Lien except for the security interest created by this Pledge
  Agreement;

	
 

	
 

	
 

	
          (b)
  As of the date hereof, all of the Pledged Collateral is currently represented
  by certificates, and Schedule I sets forth a complete and accurate
  list of all the Pledged Collateral, all of which has been delivered to the
  Administrative Agent;

	
 

	
 

	
 

	
          (c)
  Each Pledgor (i) is either a corporation, limited partnership or other type
  of legal entity as described on Schedule II hereto, (ii) is duly
  organized and validly existing solely under the laws of its jurisdiction of
  organization, as set forth on Schedule II hereto, (iii) is in good
  standing (if applicable) under the laws of its jurisdiction of organization,
  (iv) has its place of business or chief executive office (if it has more than
  one place of business) at the address set forth on Schedule II hereto,
  (v) has full corporate, partnership or limited liability company power and
  authority to enter into this Pledge Agreement and to perform each and all of
  its obligations 

20

	
 

	
 

	
 

	
herein and
  (vi) has ensured that the grant of a first priority security interest in the
  Pledged Collateral under this Pledge Agreement shall be enforceable and
  recognized in the jurisdiction of organization of each applicable Pledged
  Subsidiary;

	
 

	
 

	
 

	
          (d)
  The exact legal name of each Pledgor as it appears in the Pledgors’
  organizational documents, as amended, as filed with the Pledgors’
  jurisdiction of organization is set forth on Schedule II hereto, and
  none of the Pledgors has conducted business during the last five years under
  any name other than its exact legal name as set forth on Schedule II,
  except for any prior names as described on Schedule II hereto;  

	
 

	
 

	
 

	
          (e)
  No financing statement naming any Pledgor as debtor and describing or
  purporting to cover all or any portion of the Pledged Collateral, which has
  not lapsed or been terminated, has been filed in any jurisdiction except for
  financing statements naming the Administrative Agent on behalf of the Secured
  Parties as secured party;

	
 

	
 

	
 

	
          (f)
  There are no restrictions upon the voting rights associated with, or upon the
  transfer of, any of the Pledged Collateral;

	
 

	
 

	
 

	
          (g)
  Each Pledgor has the right to vote, pledge and grant a security interest in
  or otherwise transfer such Pledged Collateral free of any Liens, except for
  the pledge and security interest granted to the Administrative Agent
  hereunder;

	
 

	
 

	
 

	
          (h)
  Each Pledgor owns the Pledged Collateral free and clear of any pledge,
  mortgage, hypothecation, lien, charge, encumbrance or any security interest
  therein, except for the pledge and security interest granted to the
  Administrative Agent hereunder;

	
 

	
 

	
 

	
          (i)
  The pledge of the Pledged Collateral does not violate (1) the articles or
  certificates of incorporation, by-laws, operating agreements or partnership
  agreements, as applicable, of the Pledged Subsidiaries, or any indenture,
  mortgage, loan or credit agreement to which any Pledgor or any of the Pledged
  Subsidiaries is a party or by which any of their respective properties or
  assets may be bound; or (2) any restriction on such transfer or encumbrance
  of such Pledged Collateral;

	
 

	
 

	
 

	
          (j)
  Each Pledgor agrees to execute and deliver to each Pledged Subsidiary that is
  a limited liability company or limited partnership a control acknowledgment
  (“Control Acknowledgment”) substantially in the form of Exhibit D
  hereto.  Each Pledgor shall cause such
  Pledged Subsidiary to acknowledge in writing its receipt and acceptance
  thereof.  Such Control Acknowledgment
  shall instruct such Pledged Subsidiary to follow instructions from the
  Administrative Agent without the Pledgors’ further consent;

	
 

	
 

	
 

	
          (k)
  Each Pledgor authorizes the Administrative Agent to file financing statements
  pursuant to the UCC as the Administrative Agent may reasonably deem necessary
  to perfect the security interest granted hereby;

	
 

	
 

	
 

	
          (l)
  No authorization, approval, or other action by, and no notice to or filing
  with, any governmental authority or regulatory body is required either (i)
  for the pledge of the Pledged Collateral pursuant to this Pledge Agreement or
  for the execution, delivery or performance of this Pledge Agreement by the
  Pledgors (except for the filing of financing statements contemplated pursuant
  to Section 6(k) hereof) or (ii) for the exercise by the Administrative
  Agent of the voting or other rights provided for in this Pledge Agreement or
  the remedies in respect of the Pledged 

21

	
 

	
 

	
 

	
Collateral
  pursuant to this Pledge Agreement (except as may be required in connection
  with such disposition by laws affecting the offering and sale of securities
  generally);

	
 

	
 

	
 

	
          (m)
  Upon delivery of each of the certificates representing the Pledged
  Collateral, or, as applicable, the filing of financing statements pursuant to
  Section 6(k) hereof, or upon execution of a control agreement, the
  pledge of the Pledged Collateral pursuant to this Pledge Agreement will
  create a valid and perfected first priority security interest in the Pledged
  Collateral, in favor of the Administrative Agent for the benefit of the
  Administrative Agent and the Secured Parties, securing the payment and
  performance of the Secured Obligations;

	
 

	
 

	
 

	
          (n)
  No Pledgor has (i) registered the Pledged Collateral in the name of any other
  Person, (ii) consented to any agreement by any of the Pledged Subsidiaries in
  which any such Pledged Subsidiary agrees to act on the instructions of any
  other Person, (iii) delivered the Pledged Collateral to any other Person, or
  (iv) otherwise granted “control” (as such term is used in Section 8-106 of
  the UCC) of the Pledged Collateral to any other Person;

	
 

	
 

	
 

	
          (o)
  The Powers are duly executed and give the Administrative Agent the authority
  they purport to confer; and

	
 

	
 

	
 

	
          (p)
  No Pledgor has any obligation to make further capital contributions or make
  any other payments to the Pledged Subsidiaries with respect to its interest
  therein.

                    SECTION
7. Covenants.

	
 

	
 

	
 

	
          (a)
  Except to the extent expressly permitted by the terms of the Loan Documents,
  each Pledgor agrees that it will (i) not change its name or its current legal
  structure, and will not, in one transaction or a series of related
  transactions, merge into or consolidate with any other entity, or sell all or
  substantially all of its assets, (ii) maintain its due organization and good
  standing in its jurisdiction of organization, (iii) not change its
  jurisdiction of organization, and (iv) not change its mailing address, place
  of business or chief executive office (if it has more than one place of
  business), unless such Pledgor shall have given the Administrative
  Agent not less than 30 day’s prior written notice of such event or occurrence
  and the Administrative Agent shall have either (x) determined that such event
  or occurrence will not adversely affect the validity, perfection or priority
  of the Administrative Agent’s security interest in the Pledged Collateral, or
  (y) taken such steps (with the cooperation of the Pledgors to the extent
  necessary or advisable) as are necessary or advisable to properly maintain
  the validity, perfection and priority of the Administrative Agent’s security
  interest in such Pledged Collateral;

	
 

	
 

	
 

	
          (b)
  No Pledgor will (i) register the Pledged Collateral in the name of any Person
  other than the Administrative Agent, (ii) consent to any agreement between
  any Pledged Subsidiary and any Person other than the Administrative Agent in
  which Pledged Subsidiary agrees to act on the instructions of any such
  Person, (iii) deliver the Pledged Collateral or any related Power or
  endorsement to any Person other than the Administrative Agent or (iv)
  otherwise grant “control” (as such term is used in Section 8-106 of the UCC)
  of the Pledged Collateral to any Person other than the Administrative Agent, provided,
  however, that each Pledgor shall, at the reasonable request and
  direction of the Administrative Agent at any time, promptly take any or all
  of such actions as set forth in clause (i) – (iv) above for the benefit of,
  and in a manner reasonably acceptable to, the Administrative Agent;  

	
 

	
 

	
 

	
          (c)
  Without limiting the provisions of clause (b), each Pledgor will, at
  its expense, promptly execute, authorize, acknowledge and deliver all such
  instruments, certificates or other 

22

	
 

	
 

	
 

	
documents,
  and take all such additional actions as the Administrative Agent from time to
  time may reasonably request in order to ensure to the Administrative Agent
  the benefits of the first priority security interest in and to the Pledged
  Collateral intended to be created by this Pledge Agreement, including,
  without limitation, (i) the authorization and filing of any necessary UCC
  financing statements, (ii) the delivery to the Administrative Agent of any
  certificates that may from time to time evidence the Pledged Collateral,
  (iii) the execution in blank and delivery of any necessary Powers or other
  endorsements, and (iv) taking such action as required in the jurisdiction of
  organization of the applicable Pledged Subsidiary in order to ensure the
  enforceability and recognition of such first priority security interest in
  such jurisdiction of organization, and will cooperate with the Administrative
  Agent, at such Pledgor’s expense, in obtaining all necessary approvals and
  consents, and making all necessary filings under federal, state, local or
  foreign law in connection with such security interests or any sale or
  transfer of the Pledged Collateral;

	
 

	
 

	
 

	
          (d)
  Each Pledgor has and will defend the title to the Pledged Collateral and the
  security interests of the Administrative Agent in the Pledged Collateral
  against the claim of any Person and will maintain and preserve such security
  interests;

	
 

	
 

	
 

	
          (e)
  Each Pledgor will, upon obtaining ownership of any additional Pledged
  Collateral promptly and in any event within five (5) Business Days deliver to
  the Administrative Agent a Pledge Amendment, duly executed by such Pledgor,
  in substantially the form of Exhibit B hereto (a “Pledge Amendment”)
  in respect of any such additional Pledged Collateral, pursuant to which the
  Pledgor shall confirm its grant of a security interest in such additional
  Pledged Collateral pursuant to Section 1 hereof to the
  Administrative Agent, such grant being deemed effective as of the date
  hereof, regardless of whether such Pledge Amendment is ever executed pursuant
  to this paragraph.  Each Pledgor
  hereby authorizes the Administrative Agent to attach each Pledge Amendment to
  this Pledge Agreement and to unilaterally amend Schedule I hereto
  pursuant to the terms of Section 2 hereof, and agrees that all Pledged
  Collateral listed on any Pledge Amendment delivered to the Administrative
  Agent, or amended Schedule I, shall for all purposes hereunder be
  considered Pledged Collateral (it being understood and agreed that the
  failure by any Pledgor or the Administrative Agent to prepare or execute any
  such Pledge Amendment shall not prevent the creation or attachment of the
  Administrative Agent’s lien and security interest in any such shares which
  creation and attachment shall automatically, and be deemed to, occur pursuant
  to Section 1 hereof); 

	
 

	
 

	
 

	
          (f)
  Each Pledgor hereby irrevocably authorizes the Administrative Agent at any
  time and from time to time to file in any filing office in any UCC
  jurisdiction any financing statements or amendments thereto that (a) describe
  the Pledged Collateral and (b) contain any other information required by
  Article 9 of the UCC for the sufficiency or filing office acceptance of any
  financing statement or amendment.
  Each Pledgor also ratifies its authorization for the Administrative
  Agent to have filed any financing statements or amendments thereto if filed
  prior to the date hereof;

	
 

	
 

	
 

	
          (g)
  Each Pledgor will (i) deliver to the Administrative Agent immediately upon
  execution of this Pledge Agreement, a Pledge Supplement or a Pledge
  Amendment, as applicable, the originals of all certificates or other
  instruments constituting Pledged Collateral and (ii) hold in trust for the
  Administrative Agent upon receipt and immediately thereafter deliver to the
  Administrative Agent any certificates or other instruments constituting
  Pledged Collateral;

	
 

	
 

	
 

	
          (h)
  Each Pledgor will permit the Administrative Agent from time to time to cause
  the appropriate issuers (and, if held with a securities intermediary, such
  securities intermediary) of 

23

	
 

	
 

	
 

	
uncertificated
  securities or other types of investment property not represented by
  certificates which are Pledged Collateral to mark their books and records
  with the numbers and face amounts of all such uncertificated securities or
  other types of investment property not represented by certificates and all
  rollovers and replacements therefor to reflect the pledge of such Pledged
  Collateral granted pursuant to this Pledge Agreement.  Each Pledgor will take any actions
  necessary to cause (i) the issuers of uncertificated securities which are
  Pledged Collateral and (ii) any financial intermediary which is the holder of
  any investment property, to cause the Administrative Agent to have and retain
  control over such securities or other investment property.  Without limiting the foregoing, each
  Pledgor will, with respect to investment property held with a financial intermediary,
  cause such financial intermediary to enter into a control agreement with the
  Administrative Agent in form and substance satisfactory to the Administrative
  Agent;

	
 

	
 

	
 

	
          (i)
  Except as otherwise permitted by the terms of the Loan Documents, each
  Pledgor will not (i) permit or suffer any issuer of privately held corporate
  securities or other ownership interests in a corporation, partnership, joint
  venture or limited liability company constituting Pledged Collateral over
  which it has voting control to dissolve, liquidate, retire any of its capital
  stock or other instruments or securities evidencing ownership, reduce its
  capital or merge or consolidate with any other entity, or (ii) vote any of
  the instruments, securities or other investment property in favor of any of
  the foregoing;

	
 

	
 

	
 

	
          (j)
  Each Pledgor will permit any registerable Pledged Collateral to be registered
  in the name of the Administrative Agent or its nominee at any time after the
  occurrence and continuance of an Event of Default; and

	
 

	
 

	
 

	
          (k)
  Each Pledgor agrees that it will not (i) except as otherwise permitted by the
  Loan Documents, sell or otherwise dispose of, or grant any option with
  respect to, any of the Pledged Collateral without the prior written consent
  of the Administrative Agent, or (ii) create or permit to exist any Lien upon
  or with respect to any of the Pledged Collateral, except for the security
  interest under this Pledge Agreement.

          
          SECTION 8. Voting Rights.  During the term of this Pledge Agreement,
and except as provided in this Section 8 below, each Pledgor shall have
(i) the right to vote the Pledged Stock, Pledged Membership Interests or
Pledged Partnership Interests on all governing questions in a manner not
inconsistent with the terms of this Pledge Agreement or any Loan Documents and
(ii) the right to be a member or a partner of all the Pledged Subsidiaries
which are limited liability companies or partnerships, respectively.  After the occurrence and during the
continuance of an Event of Default, the Administrative Agent or the
Administrative Agent’s nominee may, at the Administrative Agent’s or such
nominee’s option and following written notice from the Administrative Agent to
the Pledgors, (i) exercise all voting powers pertaining to the Pledged
Collateral, including the right to take action by shareholder consent and (ii)
become a member or partner of each and all of the Pledged Subsidiaries which
are limited liability companies or partnerships, respectively, and as such (x)
exercise, or direct the applicable Pledgor as to the exercise of all voting,
consent, managerial, election and other membership rights to the applicable
Pledged Collateral and (y) exercise, or direct any Pledgor as to the exercise
of any and all rights of conversion, exchange, subscription or any other
rights, privileges or options pertaining to the applicable Pledged Collateral,
as if the Administrative Agent were the absolute owner thereof, all without
liability except to account for property actually received by it, but the
Administrative Agent shall have no duty to exercise any of the aforesaid
rights, privileges or options and shall not be responsible for any failure so
to do or delay in so doing.  Such
authorization shall constitute an irrevocable voting proxy from such Pledgor to
the Administrative Agent or, at the Administrative Agent’s option, to the
Administrative Agent’s nominee.  After
an Event of Default is cured or waived, such Pledgor will have the right to
exercise the voting and rights, powers, privileges and options that it would
otherwise be entitled to

24

exercise
pursuant to the terms of the Pledge Agreement prior to the occurrence of any
such Event of Default.

                    SECTION
9. Dividends and Other Distributions. (a) So long as no Event of Default
has occurred and is continuing:

	
 

	
 

	
 

	
 

	
          (i)
  Each Pledgor shall be entitled to receive and retain any and all dividends,
  cash distributions and interest paid in respect of the Pledged Collateral to
  the extent such distributions are not prohibited by the Loan Documents, provided,
  however, that any and all (A) distributions, dividends and interest
  paid or payable other than in cash with respect to, and instruments and other
  property received, receivable or otherwise distributed with respect to, or in
  exchange for, any of the Pledged Collateral, (B) dividends and other
  distributions paid or payable in cash with respect to any of the Pledged
  Collateral on account of a partial or total liquidation or dissolution or in
  connection with a reduction of capital, capital surplus or paid-in surplus,
  and (C) cash paid, payable or otherwise distributed with respect to principal
  of, or in redemption of, or in exchange for, any of the Pledged Collateral,
  shall be Pledged Collateral, and shall be forthwith delivered to the
  Administrative Agent to hold, for the benefit of the Administrative Agent and
  the Secured Parties, as Pledged Collateral and shall, if received by a
  Pledgor, be received in trust for the Administrative Agent, for the benefit
  of the Administrative Agent and the Secured Parties, be segregated from the
  other property or funds of such Pledgor, and be delivered immediately to the
  Administrative Agent as Pledged Collateral in the same form as so received
  (with any necessary endorsement); and

	
 

	
 

	
 

	
 

	
          (ii)
  The Administrative Agent shall execute and deliver (or cause to be executed
  and delivered) to each Pledgor all such proxies and other instruments as such
  Pledgor may reasonably request for the purpose of enabling such Pledgor to
  receive the dividends or interest payments which it is authorized to receive
  and retain pursuant to clause (i) above.

	
 

	
 

	
 

	
 

	
(b)

	
After the
  occurrence and during the continuance of an Event of Default:

	
 

	
 

	
 

	
 

	
          (i)
  All rights of the Pledgors to receive the dividends, distributions and
  interest payments which it would otherwise be authorized to receive and
  retain pursuant to Section 9(a)(i) hereof shall cease, and all such
  rights shall thereupon become vested in the Administrative Agent, for the
  benefit of the Administrative Agent and the Secured Parties, which shall thereupon
  have the sole right to receive and hold as Pledged Collateral such dividends,
  distributions and interest payments; and

	
 

	
 

	
 

	
 

	
          (ii)
  All dividends, distributions and interest payments which are received by any
  Pledgor contrary to the provisions of clause (i) of this Section
  9(b) shall be received in trust for the Administrative Agent, for the
  benefit of the Administrative Agent and the Secured Parties, shall be
  segregated from other funds of such Pledgor and shall be paid over
  immediately to the Administrative Agent as Pledged Collateral in the same
  form as so received (with any necessary endorsements).

	
 

	
 

	
 

The Pledgors
will reimburse the Administrative Agent and/or the Secured Parties for all
expenses incurred by the Administrative Agent and/or the Secured Parties,
including, without limitation, reasonable attorneys’ and accountants’ fees and
expenses in connection with the foregoing.

                    SECTION
10. Remedies. (a) The Administrative Agent shall have, in addition to
any other rights given under this Pledge Agreement or by law, all of the rights
and remedies with respect to the Pledged Collateral of a secured party under
the UCC. After the occurrence and during the 

25

continuance of
an Event of Default, the Administrative Agent (personally or through an agent)
is hereby authorized and empowered to transfer and register in its name or in
the name of its nominee the whole or any part of the Pledged Collateral, to
exercise all voting rights with respect thereto, to collect and receive all
cash dividends or distributions and other distributions made thereon, and to
otherwise act with respect to the Pledged Collateral as though the
Administrative Agent were the outright owner thereof (in the case of a limited
liability company, the sole member and manager thereof and, in the case of a
partnership, a partner thereof), each Pledgor hereby irrevocably constituting
and appointing the Administrative Agent as the proxy and attorney-in-fact of
such Pledgor, with full power of substitution to do so; provided, however,
that the Administrative Agent shall have no duty to exercise any such right or
to preserve the same and shall not be liable for any failure to do so or for
any delay in doing so; provided, further, however, that
the Administrative Agent agrees to exercise such proxy and powers only so long
as an Event of Default shall have occurred and is continuing and following
written notice thereof. In addition, after the occurrence and during the
continuance of an Event of Default, the Administrative Agent shall have such
powers of sale and other powers as may be conferred by applicable law and
regulatory requirements. With respect to the Pledged Collateral or any part
thereof which shall then be in or shall thereafter come into the possession or
custody of the Administrative Agent or which the Administrative Agent shall
otherwise have the ability to transfer under applicable law, the Administrative
Agent may, in its sole discretion, without notice except as specified below,
after the occurrence and during the continuance of an Event of Default, sell or
cause the same to be sold at any exchange, broker’s board or at public or
private sale, in one or more sales or lots, at such price as the Administrative
Agent may deem best, for cash or on credit or for future delivery, without
assumption of any credit risk, and the purchaser of any or all of the Pledged
Collateral so sold shall thereafter own the same, absolutely free from any
claim, encumbrance or right of any kind whatsoever. The Administrative Agent
and each of the Secured Parties may, in its own name, or in the name of a
designee or nominee, buy the Pledged Collateral at any public sale and, if
permitted by applicable law, buy the Pledged Collateral at any private sale.
The Pledgors jointly and severally agree to pay to the Administrative Agent all
reasonable expenses (including, without limitation, court costs and reasonable
attorneys’ and paralegals’ fees and expenses) of, or incidental to, the
enforcement of any of the provisions hereof. The Administrative Agent agrees to
distribute any proceeds of the sale of the Pledged Collateral in accordance
with Section 10(d) and the Pledgor shall remain liable for any
deficiency following the sale of the Pledged Collateral.

          (b)
Unless any of the Pledged Collateral threatens to decline speedily in value or
is or becomes of a type sold on a recognized market, the Administrative Agent
will give the applicable Pledgor reasonable notice of the time and place of any
public sale thereof, or of the time after which any private sale or other
intended disposition is to be made. Any sale of the Pledged Collateral
conducted in conformity with reasonable commercial practices of Lenders,
commercial finance companies, insurance companies or other financial institutions
disposing of property similar to the Pledged Collateral shall be deemed to be
commercially reasonable. Notwithstanding any provision to the contrary
contained herein, each Pledgor agrees that any requirements of reasonable
notice shall be met if such notice is received by such Pledgor as provided in Section
21 below at least ten (10) days before the time of the sale or disposition;
provided, however, that the Administrative Agent may give any
shorter notice that is commercially reasonable under the circumstances. Any
other requirement of notice, demand or advertisement for sale is waived, to the
extent permitted by law.

          (c)
In view of the fact that federal and state securities laws may impose certain
restrictions on the method by which a sale of the Pledged Collateral may be
effected after an Event of Default, each Pledgor agrees that after the
occurrence and during the continuation of an Event of Default, the
Administrative Agent may, from time to time, attempt to sell all or any part of
the Pledged Collateral by means of a private placement restricting the bidders
and prospective purchasers to those who are qualified and will represent and
agree that they are purchasing for investment only and not for distribution. In
so doing, the Administrative Agent may solicit offers to buy the Pledged
Collateral, or any part of it, from a 

26

limited number
of investors deemed by the Administrative Agent, in its reasonable judgment, to
be financially responsible parties who might be interested in purchasing the
Pledged Collateral. If the Administrative Agent solicits such offers from not
less than four (4) such investors, then the acceptance by the Administrative
Agent of the highest offer obtained therefrom shall be deemed to be a
commercially reasonable method of disposing of such Pledged Collateral; provided,
however, that this Section does not impose a requirement that the
Administrative Agent solicit offers from four or more investors in order for
the sale to be commercially reasonable.

          (d)
All proceeds of the sale of the Pledged Collateral received by the
Administrative Agent hereunder shall be applied by the Administrative Agent to
payment of the Secured Obligations pursuant to the terms of the Credit
Agreement.

                    SECTION
11. Administrative Agent Appointed Attorney-in-Fact. Each Pledgor hereby
appoints the Administrative Agent its attorney-in-fact, coupled with an
interest, with full authority, in the name of such Pledgor or otherwise, from
time to time in the Administrative Agent’s sole discretion, to take any action
and to execute any instrument which the Administrative Agent may deem necessary
or advisable to accomplish the purposes of this Pledge Agreement, including,
without limitation, to receive, endorse and collect all instruments made
payable to such Pledgor representing any dividend, distribution, interest
payment or other distribution in respect of the Pledged Collateral or any part
thereof and to give full discharge for the same and to arrange for the transfer
of all or any part of the Pledged Collateral on the books of the Pledged
Subsidiaries to the name of the Administrative Agent or the Administrative
Agent’s nominee.

                    SECTION
12. Waivers. (i) Each Pledgor waives presentment and demand for payment
of any of the Secured Obligations, protest and notice of dishonor or default
with respect to any of the Secured Obligations and all other notices to which
such Pledgor might otherwise be entitled except as otherwise expressly provided
herein or in the applicable Loan Document.

                    (ii)
Each Pledgor understands and agrees that its obligations and liabilities under
this Pledge Agreement shall remain in full force and effect, notwithstanding
foreclosure of any property securing all or any part of the Secured Obligations
by trustee sale or any other reason impairing the right of any Pledgor, the
Administrative Agent or any of the Secured Parties to proceed against any
Pledged Subsidiary, any other guarantor or any Pledged Subsidiary or such
guarantor’s property. Each Pledgor agrees that all of its obligations under
this Pledge Agreement shall remain in full force and effect without defense,
offset or counterclaim of any kind, notwithstanding that such Pledgor’s rights
against any Pledged Subsidiary may be impaired, destroyed or otherwise affected
by reason of any action or inaction on the part of the Administrative Agent or
any Secured Party. 

                    (iii)
Each Pledgor hereby expressly waives the benefits of any law in any jurisdiction
purporting to allow a guarantor or pledgor to revoke a continuing guaranty or
pledge with respect to any transactions occurring after the date of the
guaranty or pledge.

                    SECTION
13. Term. This Pledge Agreement shall remain in full force and effect
until the Secured Obligations (other than contingent indemnity obligations)
shall have been indefeasibly and fully paid in cash and any commitments to
extend credit under the Loan Documents shall have terminated. Upon the
termination of this Pledge Agreement as provided above (other than as a result
of the sale of the Pledged Collateral), the Administrative Agent will release
the security interest created hereunder and, if it then has possession of the
Pledged Stock, will deliver the Pledged Stock and the Powers to the applicable
Pledgor.

27

                    SECTION
14. Successors and Assigns. This Pledge Agreement shall be binding upon
and inure to the benefit of each Pledgor, the Administrative Agent, for the
benefit of itself and the Secured Parties, and their respective successors and
assigns. Each Pledgor’s successors and assigns shall include, without
limitation, a receiver, trustee or debtor-in-possession of or for such Pledgor.

                    SECTION
15. GOVERNING
LAW. THIS PLEDGE AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

                    SECTION
16.       Consent to Jurisdiction;
Waiver of Jury Trial.

                    (A)
Each Pledgor hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of the Supreme Court 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 Pledge Agreement,
or for recognition or enforcement of any judgment, and each Pledgor hereby
irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in such New York State or, to
the extent permitted by law, in such Federal court. Each Pledgor agrees that a
final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law. Nothing in this Pledge Agreement shall affect any right that
the Administrative Agent may otherwise have to bring any action or proceeding
relating to this Pledge Agreement against any Pledgor or its properties in the
courts of any jurisdiction. 

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

                    (C)
Each party to this Pledge Agreement irrevocably consents to service of process
in the manner provided for notices in Section 21 of this Pledge
Agreement, and each of the Pledgors hereby appoints the Company as its agent
for service of process. Nothing in this Pledge Agreement will affect the right
of any party to this Pledge Agreement to serve process in any other manner
permitted by law.

                    (D)
Each Pledgor hereby waives, to the fullest extent permitted by applicable law,
any right it may have to a trial by jury in any legal proceeding directly or
indirectly arising out of this Pledge Agreement (whether based on contract, tort
or any other theory). Each Pledgor (i) certifies that no representative, agent
or attorney of any other Pledgor has represented, expressly or otherwise, that
such other Pledgor would not, in the event of litigation, seek to enforce the
foregoing waiver and (ii) acknowledges that it and the other pledgors have been
induced to enter into this Pledge Agreement by, among other things, the mutual
waivers and certifications in this Section.

                    SECTION
17. No Strict Construction. The parties hereto have participated jointly
in the negotiation and drafting of this Pledge Agreement. In the event an
ambiguity or question of intent or interpretation arises, this Pledge Agreement
shall be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of
the authorship of any provisions of this Pledge Agreement.

28

                    SECTION
18. Severability. Whenever possible, each provision of this Pledge
Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but, if any provision of this Pledge Agreement shall be
held to be prohibited or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of
this Pledge Agreement.

                    SECTION
19. Further Assurances. Each Pledgor agrees that it will cooperate with
the Administrative Agent and will execute and deliver, or cause to be executed
and delivered, all such other stock powers, proxies, instruments and documents,
and will take all such other actions, including, without limitation, the
execution and filing of financing statements (and each Pledgor hereby
authorizes the Administrative Agent to file any such financing statements), as
the Administrative Agent may reasonably deem necessary from time to time in
order to carry out the provisions and purposes of this Pledge Agreement.

                    SECTION
20. The Administrative Agent’s Duty of Care. The Administrative Agent
shall not be liable for any acts, omissions, errors of judgment or mistakes of
fact or law including, without limitation, acts, omissions, errors or mistakes
with respect to the Pledged Collateral, except for those arising out of or in
connection with the Administrative Agent’s (i) gross negligence or willful
misconduct, or (ii) failure to use reasonable care with respect to the safe
custody of the Pledged Collateral in the Administrative Agent’s possession.
Without limiting the generality of the foregoing, the Administrative Agent
shall be under no obligation to take any steps necessary to preserve rights in
the Pledged Collateral against any other parties but may do so at its option.
All expenses incurred in connection therewith shall be for the sole account of
the Pledgors, and shall constitute part of the Secured Obligations secured
hereby.

                    SECTION
21. Notices. All notices and other communications provided for hereunder
shall be delivered in the manner set forth in Section 9.01 of the Credit
Agreement.

                    SECTION
22. Amendments, Waivers and Consents. No amendment or waiver of any
provision of this Pledge Agreement nor consent to any departure by the Pledgor
herefrom, shall in any event be effective unless the same shall be in writing
and signed by the Administrative Agent, and then such amendment, waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which given.

                    SECTION
23. Section Headings. The section headings herein are for convenience of
reference only, and shall not affect in any way the interpretation of any of
the provisions hereof.

                    SECTION
24. Execution in Counterparts. This Pledge Agreement may be executed in
any number of counterparts, each of which shall be an original, but all of
which shall together constitute one and the same agreement. Facsimile
transmission of the signature of any party hereto shall be effective as an
original signature.

                    SECTION
25. Merger. This Pledge Agreement and the other Loan Documents embody the
final and entire agreement and understanding among the Pledgors, the
Administrative Agent and the Secured Parties and supersede all prior agreements
and understandings among the Pledgors, the Administrative Agent and the Secured
Parties relating to the subject matter thereof. This Pledge Agreement and the
Loan Documents may not be contradicted by evidence of prior, contemporaneous or
subsequent oral agreements of the parties. There are no unwritten oral
agreements between the parties hereto.

29

                    SECTION
26. Additional Pledgors. Pursuant to the Credit Agreement, the Company
may be required to, and/or to cause certain Subsidiaries to, execute and
deliver to the Administrative Agent (i) in the case of a Subsidiary that is not
a Pledgor at such time, a Pledge Supplement in the form of Exhibit A
hereto and (ii) in the case of the Company or a Subsidiary that is a Pledgor at
such time, a Pledge Amendment in the form of Exhibit B hereto, together
with such supporting documentation required pursuant to the Credit Agreement as
the Administrative Agent may reasonably request, in order to create a
perfected, first priority security interest in the equity interests in certain
Subsidiaries. The execution and delivery of such instrument shall not require
the consent of any Pledgor hereunder. The rights and obligations of each
Pledgor hereunder shall remain in full force and effect notwithstanding the
addition of any new Pledgor as a party to this Pledge Agreement.

The remainder of this page is intentionally
blank.

30

                    IN
WITNESS WHEREOF, the Pledgors and the Administrative Agent have executed this
Pledge Agreement as of the date set forth above.

	
 

	
 

	
 

	
 

	
TENNANT
  COMPANY

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	
Name:

	
 

	
Title:

	
 

	
 

	
 

	
 

	
[OTHER
  PLEDGORS TO COME]

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	
Name:

	
 

	
Title:

	
 

	
 

	
 

	
 

	
JPMORGAN
  CHASE BANK, NATIONAL 

	
 

	
ASSOCIATION,

	
 

	
as
  Administrative Agent

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	
Name: 

	
 

	
Title:  

Signature Page to
Pledge Agreement

ACKNOWLEDGMENT

                    Each
of the undersigned hereby acknowledges receipt of a copy of the foregoing
Pledge Agreement, agrees promptly to note on its books the security interests
granted under such Pledge Agreement, agrees that after the occurrence and
during the continuance of an Event of Default it will comply with instructions
originated by the Administrative Agent without further consent by any Pledgor
and waives any rights or requirement at any time hereafter to receive a copy of
such Pledge Agreement in connection with the registration of any Pledged
Collateral in the name of the Administrative Agent or its nominee or the
exercise of voting rights by the Administrative Agent or its nominee.

	
 

	
 

	
 

	
 

	
[__________________]

	
[__________________]

	
 

	
 

	
 

	
 

	
By:

	
 

	
By:

	
 

	
 

	

	
 

	

	
 

	
Name:

	
 

	
Name:

	
 

	
Title:

	
 

	
Title:

	
 

	
 

	
 

	
 

	
[__________________]

	
[__________________]

	
 

	
 

	
 

	
 

	
By:

	
 

	
By:

	
 

	
 

	

	
 

	

	
 

	
Name:

	
 

	
Name:

	
 

	
Title:

	
 

	
Title:

	
 

	
 

	
 

	
 

	
[__________________]

	
[__________________]

	
 

	
 

	
 

	
 

	
By:

	
 

	
By:

	
 

	
 

	

	
 

	

	
 

	
Name:

	
 

	
Name:

	
 

	
Title:

	
 

	
Title:

Acknowledgment to
Pledge Agreement

SCHEDULE I

to

PLEDGE AGREEMENT

PLEDGED SUBSIDIARIES

Pledged
Capital Stock

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Pledgor

	
 

	
Record Holder

	
 

	
Pledged 

  Subsidiary

	
 

	
Cert. No.

	
 

	
No. of

  Shares

	
 

	
% of 

  Interests 

  held by 

  Pledgor

	
 

	
% of Total 

  Outstanding 

  Interests

	

	
 

	

	
 

	

	
 

	

	
 

	

	
 

	

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	

	

	

	

	

	

	

	

	

	

	

	

Pledged
Membership Interests

	
 

	
 

	
 

	
 

	
 

	
Pledgor

	
 

	
Pledged
  Subsidiary

	
 

	
Percentage
  of Membership 

  Interest owned by the Pledgor

	

	
 

	

	
 

	

	
 

	
 

	
 

	
 

	
 

	
Pledged Partnership Interests

	
 

	
 

	
 

	
 

	
 

	
Pledgor

	
 

	
Pledged
  Subsidiary

	
 

	
Percentage
  of Partnership 
Interest
  owned by the Pledgor

	

	
 

	

	
 

	

SCHEDULE II

to

PLEDGE AGREEMENT

TYPES OF ENTITY, JURISDICTION OF

ORGANIZATION, CHIEF EXECUTIVE OFFICE LOCATION

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Pledgor

	
 

	
Type of
  Entity

	
 

	
Jurisdiction
  of 

  Organization

	
 

	
Mailing
  Address of Chief 

  Executive Office

	

	
 

	

	
 

	

	
 

	

PRIOR NAMES OF PLEDGORS

DURING LAST FIVE YEARS

	
 

	
 

	
 

	
 

	
 

	
Pledgor

	
 

	
Prior Name

	
 

	
Date of
  Name Change

	

	
 

	

	
 

	

EXHIBIT A

to

PLEDGE AGREEMENT

FORM
OF PLEDGE SUPPLEMENT

                    SUPPLEMENT
NO. ___ dated as of ___________  ____, 20___ to the PLEDGE
AGREEMENT dated as of [__________] (as the same may be amended, restated,
supplemented or otherwise modified from time to time, the “Pledge Agreement”),
among TENNANT COMPANY, a Minnesota corporation (the “Company”) and
certain subsidiaries of the Company from time to time signatories thereto (the
Company and each of the Subsidiaries being referred to herein individually, as
a “Pledgor”, and collectively, as the “Pledgors”)and
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as contractual representative for
the Secured Parties (in such capacity, the “Administrative Agent”).

                    Reference
is made to the Credit Agreement dated as of June 19, 2007 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Company, certain Subsidiaries of the Company from
time to time party thereto as borrowers (together with the Company, the “Borrowers”),
the financial institutions from time to time party thereto as lenders
(collectively, the “Lenders”) and the Administrative Agent.

                    Capitalized
terms used but not defined herein shall have the respective meanings given to
such terms in the Pledge Agreement, the Credit Agreement.

                    The
undersigned Subsidiary of the Company (the “New Pledgor”) is
executing this Supplement in accordance with the requirements of the Credit
Agreement to become a Pledgor under the Pledge Agreement in consideration for
Loans and Letters of Credit previously made to, or issued for the account of,
the Borrowers.

                    Accordingly,
Administrative Agent and the New Pledgor agree as follows:

                    SECTION
1. In accordance with Section 26 of the Pledge Agreement, the New
Pledgor by its signature below becomes a Pledgor under the Pledge Agreement with
the same force and effect as if originally named therein as a Pledgor and the
New Pledgor hereby agrees (a) to all the terms and provisions of the Pledge
Agreement applicable to it as a Pledgor thereunder and (b) represents and
warrants that the representations and warranties made by it as a Pledgor
thereunder are true and correct on and as of the date hereof except for
representations and warranties which by their express terms refer to a specific
date. In furtherance of the foregoing, the New Pledgor, as security for the
payment and performance in full of the Secured Obligations, does hereby create
and grant to Administrative Agent, its successors and assigns, a security
interest in and Lien on all of the New Pledgor’s right, title and interest in
and to the Pledged Collateral (as defined in the Pledge Agreement) of the New
Pledgor. Each reference to a “Pledgor” or the “Pledgors” in the Pledge
Agreement shall be deemed to include the New Pledgor. The Pledge Agreement is
hereby incorporated herein by reference.

                    SECTION
2. The New Pledgor represents and warrants to Administrative Agent that
this Supplement has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable against it in
accordance with its terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other laws affecting Secured Parties’ rights
generally. 

                    SECTION
3. This Supplement may be executed in counterparts, each of which shall
constitute an original, but all of which when taken together shall constitute a
single contract. This Supplement shall become effective when Administrative
Agent shall have received counterparts of this Supplement that, when taken
together, bear the signatures of the New Pledgor and Administrative Agent.
Delivery of an executed signature page to this Supplement by facsimile
transmission shall be as effective as delivery of a manually signed counterpart
of this Supplement.

                    SECTION
4. The New Pledgor hereby represents and warrants that set forth on Schedule
I attached hereto is a true and correct schedule with respect to all its
Pledged Collateral.

                    SECTION
5. Except as expressly supplemented hereby, the Pledge Agreement shall
remain in full force and effect.

                    SECTION
6. If for any reason any provision or provisions hereof are determined to
be invalid and contrary to any existing or future law, such invalidity shall
not impair the operation of or effect those portions of this Supplement which
are valid.

                    SECTION
7. All communications and notices hereunder shall be in writing and given
as provided in the Pledge Agreement. All communications and notices hereunder
to the New Pledgor shall be given to it at the address set forth under its
signature below.

                    SECTION
8. The New Pledgor agrees to reimburse Administrative Agent for its
reasonable out-of-pocket expenses in connection with this Supplement, including
the reasonable fees, other charges and disbursements of counsel for
Administrative Agent.

                    IN
WITNESS WHEREOF, the New Pledgor and Administrative Agent have duly executed
this Supplement to the Pledge Agreement as of the day and year first above
written.

	
 

	
 

	
 

	
 

	
[NEW
  PLEDGOR]

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	
 

	
Address: 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Attention:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Telecopier:   (___) ___-____

	
 

	
 

	
 

	
 

	
 

	
JPMORGAN
  CHASE BANK, NATIONAL

  ASSOCIATION,

  as Administrative Agent

	
 

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
Title:

	
 

Schedule I to

Supplement No. __

to the Pledge Agreement

Pledged
Capital Stock

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Pledgor

	
 

	
Record
  Holder

	
 

	
Pledged
  Subsidiary

	
 

	
Certificate

  Number

	
 

	
Number of 

  Shares

	
 

	
%

	

	
 

	

	
 

	

	
 

	

	
 

	

	
 

	

Pledged
Membership Interests

	
 

	
 

	
 

	
 

	
 

	
Pledgor

	
 

	
Pledged
  Subsidiary

	
 

	
Percentage
  of Membership 

  Interest owned by the Pledgor

	

	
 

	

	
 

	

	
 

	
 

	
 

	
 

	
 

	
Pledged Partnership Interests

	
 

	
 

	
 

	
 

	
 

	
Pledgor

	
 

	
Pledged
  Subsidiary

	
 

	
Percentage
  of Partnership 
Interest
  owned by the Pledgor

	

	
 

	

	
 

	

	
 

	
 

	
 

	
 

	
 

EXHIBIT B

to

PLEDGE AGREEMENT

FORM
OF PLEDGE AMENDMENT

                    Reference
is hereby made to the Pledge Agreement (as the same may be amended, restated,
supplemented or otherwise modified from time to time, the “Pledge Agreement”)
dated as of [__________], by and between Tennant Company, a Minnesota
corporation [(the “Pledgor”)], and certain of its Subsidiaries
[including the undersigned (the “Pledgor”)] and JPMorgan Chase Bank,
National Association, as contractual representative for the Secured Parties (in
such capacity, the “Administrative Agent”), whereby the Pledgor has
pledged certain capital stock, membership interests and partnership interests,
as applicable, of certain of its Subsidiaries as collateral to the
Administrative Agent, for the ratable benefit of the Secured Parties, as more
fully described in the Pledge Agreement. This Amendment is a “Pledge Amendment”
as defined in the Pledge Agreement and is, together with the acknowledgments,
certificates, and Powers delivered herewith, subject in all respects to the
terms and provisions of the Pledge Agreement. Capitalized terms used herein and
not defined herein shall have the meanings given to them in the Pledge
Agreement.

                    By
its execution below, the Pledgor hereby agrees that (i) the [capital stock of
the corporation(s)] [membership interests of the limited liability company(s)]
[partnership interests of the partnership(s)] listed on Schedule I
hereto shall be pledged to the Administrative Agent as additional collateral pursuant
to Section 1[(a)(b)(c)](ii) of the Pledge Agreement, (ii) such property
shall be considered [Pledged Stock] [Pledged Membership Interests] [Pledged
Partnership Interests] under the Pledge Agreement and be a part of the Pledged
Collateral pursuant to Section 1 of the Pledge Agreement, and (iii) each
such [corporation] [limited liability company] [partnership] listed on Schedule
I hereto shall be considered a Pledged Subsidiary for purposes of the
Pledge Agreement.

                    By
its execution below, the Pledgor represents and warrants that it has full power
and authority to execute this Pledge Amendment and that the representations and
warranties contained in Section 6 of the Pledge Agreement are true and
correct in all respects as of the date hereof and after taking into account the
pledge of the additional [Pledged Stock] [Pledged Membership Interests]
[Pledged Partnership Interests] relating hereto. The Pledge Agreement, as
amended and modified hereby, remains in full force and effect and is hereby
ratified and confirmed.

                    IN
WITNESS WHEREOF, the Pledgor has executed and delivered this Pledge Amendment
to the Pledge Agreement as of this ____ day of ____________, ______.

	
 

	
 

	
 

	
 

	
[PLEDGOR]

	
 

	
 

	
By:

	
 

	
 

	
 

	

	
 

	
Name:

	
 

	
Title:

Schedule I

to

Pledge Amendment

Pledged
Capital Stock

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Pledgor 

	
  

	
Record
Holder 

	
  

	
Pledged
Subsidiary 

	
  

	
Certificate
Number 

	
  

	
Number of
Shares 

	
  

	
% 

	
  

	

	
  

	

	
  

	

	
  

	

	
  

	

	
  

	

	
  

	
  

	
  

	
  

	
  

	
  

	
  

	
  

	
  

	
  

	
  

	
  

	
  

Pledged
Membership Interests

	
 

	
 

	
 

	
 

	
 

	
 

	
Pledgor 

	
  

	
Pledged
Subsidiary 

	
  

	
Percentage
of Membership

Interest owned by the Pledgor 

	
  

	

	
  

	

	
  

	

	
  

	
  

	
  

	
  

	
  

	
  

	
  

Pledged
Partnership Interests

	
 

	
 

	
 

	
 

	
 

	
 

	
Pledgor 

	
  

	
Pledged
Subsidiary 

	
  

	
Percentage
of Partnership

Interest owned by the Pledgor 

	
  

	

	
  

	

	
  

	

	
  

	
  

	
  

	
  

	
  

	
  

	
  

ACKNOWLEDGMENT

TO

PLEDGE AMENDMENT

                    The
undersigned hereby acknowledges receipt of a copy of the foregoing Pledge
Amendment together with a copy of the Pledge Agreement, agrees promptly to note
on its books the security interests granted under such Pledge Agreement, agrees
that after the occurrence and during the continuance of an Event of Default it
will comply with instructions originated by the Administrative Agent without
further consent by the Pledgor and waives any rights or requirement at any time
hereafter to receive a copy of such Pledge Agreement in connection with the
registration of any Pledged Collateral in the name of the Administrative Agent
or its nominee or the exercise of voting rights by the Administrative Agent or
its nominee.

	
 

	
 

	
 

	
 

	
[NAME[S] OF
  ADDITIONAL PLEDGED
  SUBSIDIARY[IES]]

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	

	
 

	
Name:

	
 

	
Title:

EXHIBIT C

to

PLEDGE AGREEMENT

FORM
OF STOCK POWER

                    FOR
VALUE RECEIVED, the undersigned does hereby sell, assign and transfer to
_____________________________ _______ Shares of Common Stock of
_______________________, a _______________ corporation, represented by
Certificate No. ____ (the “Stock”), standing in the name of the
undersigned on the books of said corporation and does hereby irrevocably
constitute and appoint ___________________________________ as the undersigned’s
true and lawful attorney, for it and in its name and stead, to sell, assign and
transfer all or any of the Stock, and for that purpose to make and execute all
necessary acts of assignment and transfer thereof; and to substitute one or
more persons with like full power, hereby ratifying and confirming all that
said attorney or substitute or substitutes shall lawfully do by virtue hereof.

	
   

  	
   

  
	
  Dated: 

  	
  _______________________

  

	
   

  	
   

  	
   

  
	
   

  	
  [PLEDGOR]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

EXHIBIT D

to

PLEDGE AGREEMENT

Form of Control Acknowledgment

CONTROL ACKNOWLEDGMENT

	
   

  	
   

  	
   

  
	
  PLEDGED
  SUBSIDIARY:

  	
  [MEMBERSHIP][PARTNERSHIP] INTEREST
  

  
	
   

  	
  OWNER:

  	
   

  
	
   

  	
   

  	
   

  
	
  [Name of
  Pledged Subsidiary]

  	
  [Name of
  Pledgor]

  	
   

  

                    Reference
is hereby made to that certain Pledge Agreement dated as of [___________] (as
the same may be amended, restated, supplemented or otherwise modified from time
to time, the “Pledge Agreement”) between Tennant Company, a Minnesota
corporation, and certain of its Subsidiaries (collectively, the “Pledgor”),
a [member][partner] of [Name of Pledged Subsidiary], a [__________] limited
[liability company][partnership] (a “Pledged Subsidiary”) and JPMorgan Chase
Bank, National Association, as contractual representative for the Secured
Parties (in such capacity, the “Administrative Agent”). Capitalized
terms used herein and not defined herein shall have the meanings ascribed
thereto in the Pledge Agreement.

                    Pledged
Subsidiary is hereby instructed by the Pledgor that all of the Pledgor’s right,
title and interest in and to all of the Pledgor’s rights in connection with any
[membership][partnership] interests in Pledged Subsidiary now and hereafter
owned by the Pledgor are subject to a pledge and security interest in favor of
Administrative Agent. Pledgor hereby instructs the Pledged Subsidiary to act
upon any instruction delivered to it by the Administrative Agent with respect
to the Pledged Collateral without seeking further instruction from the Pledgor,
and, by its execution hereof, the Pledged Subsidiary agrees to do so.

                    Pledged
Subsidiary, by its written acknowledgement and acceptance hereof, hereby
acknowledges receipt of a copy of the aforementioned Pledge Agreement and
agrees promptly to note on its books the security interest granted under such
Pledge Agreement. Each Pledged Subsidiary also waives any rights or
requirements at any time hereafter to receive a copy of such Pledge Agreement
in connection with the registration of any Pledged Collateral in the name of
the Administrative Agent or its nominee or the exercise of voting rights by the
Administrative Agent or its nominee.

The remainder of this page is intentionally
blank.

                    IN
WITNESS WHEREOF, the Pledgor has caused this Control Acknowledgment to be duly
signed and delivered by its officer duly authorized as of this ___ day of
__________, 20___.

	
   

  	
   

  	
   

  
	
   

  	
  [PLEDGOR]

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

Acknowledged
and accepted this

____ day of ____________, 20___

[PLEDGOR]

	
   

  	
   

  
	
  By:

  	
   

  
	
   

  	
  

  
	
  Name:

  
	
  Title:

  

SCHEDULE 3.01

SUBSIDIARIES

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Subsidiary

	
 

	
Jurisdiction
   of Organization

	
 

	
Ownership

	
 

	
 

	

	
 

	

	
 

	

	
1.

	
 

	
Tennant
  Cleaning Systems and Equipment (Shanghai) Co. Ltd.

	
 

	
People’s
  Republic of China

	
 

	
Tennant
  Company—100% 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
2.

	
 

	
Tennant do
  Brasil Equipamentos Ltda

	
 

	
Federative
  Republic of Brazil

	
 

	
Tennant
  Company—99%

  Tennant Sales and Service Company—1%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
3.

	
 

	
Tennant Sales and Service Company*

	
 

	
Minnesota

	
 

	
Tennant
  Company—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
4.

	
 

	
Tennant Holding B.V.*

	
 

	
Netherlands

	
 

	
Tennant
  Company—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
5.

	
 

	
Tennant
  Import B.V.

	
 

	
Netherlands

	
 

	
Tennant
  Company—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
6.

	
 

	
Tennant
  Uruguay S.A.

	
 

	
Eastern
  Republic of Uruguay

	
 

	
Tennant
  Company—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
7.

	
 

	
Recubrimientos
  Tennant, S. de R.L. de C.V.

	
 

	
United
  Mexican States

	
 

	
Tennant
  Company—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
8.

	
 

	
Tennant
  Company Far East Headquarters PTE LTD

	
 

	
Republic of
  Singapore

	
 

	
Tennant
  Sales and Service Company—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
9.

	
 

	
Tennant
  Europe N.V. 

	
 

	
Kingdom of
  Belgium

	
 

	
Tennant
  Holding B.V.—99.9%

  Tennant N.V.—0.1%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
10.

	
 

	
Tennant N.V.

	
 

	
Netherlands

	
 

	
Tennant Holding
  B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
11.

	
 

	
Tennant GmbH
  & Co. KG

	
 

	
Federal
  Republic of Germany

	
 

	
Tennant
  N.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
12.

	
 

	
Tennant
  Sverige AB

	
 

	
Kingdom of
  Sweden

	
 

	
Tennant
  N.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
13.

	
 

	
Tennant
  Verwaltungs-gesellschaft GmbH

	
 

	
Federal
  Republic of Germany

	
 

	
Tennant
  N.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
14.

	
 

	
Hofmans
  Machinefabriek

	
 

	
Netherlands

	
 

	
Tennant
  N.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
15.

	
 

	
Tennant
  Europe B.V.

	
 

	
Netherlands

	
 

	
Tennant
  Holding B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
16.

	
 

	
Tennant
  Sales and Services Spain, S.A.

	
 

	
Kingdom of
  Spain

	
 

	
Tennant
  Europe B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
17.

	
 

	
Tennant
  Portugal E. de L., S.U., Lda

	
 

	
Portuguese
  Republic

	
 

	
Tennant
  Europe B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
18.

	
 

	
Tennant
  France S.A.

	
 

	
French
  Republic

	
 

	
Tennant
  Europe B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
19.

	
 

	
Tennant CEE

	
 

	
Republic of
  Austria

	
 

	
Tennant
  Europe B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
20.

	
 

	
Sorma ICB+

	
 

	
Republic of
  Bulgaria

	
 

	
Tennant
  CEE—60%

  Stefan Stoilov Bayraktarski—40%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Subsidiary

	
 

	
Jurisdiction
   of Organization

	
 

	
Ownership

	
 

	
 

	

	
 

	

	
 

	

	
21.

	
 

	
Sorma
  Holland B.V.

	
 

	
Netherlands

	
 

	
Tennant
  Europe B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
22.

	
 

	
Tennant
  Sales and Service Scandinavia ApS

	
 

	
Kingdom of
  Denmark

	
 

	
Tennant
  Europe B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
23.

	
 

	
Tennant
  Sales & Service Italy S.R.L.

	
 

	
Republic of
  Italy

	
 

	
Tennant
  Europe B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
24.

	
 

	
Walter-Broadley
  Machines Limited

	
 

	
United
  Kingdom

	
 

	
Tennant
  Europe B.V.—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
25.

	
 

	
Tennant U.K.
  Limited

	
 

	
United
  Kingdom

	
 

	
Walter-Broadley
  Machines Limited—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
26.

	
 

	
Floorep
  Limited

	
 

	
United
  Kingdom

	
 

	
Tennant U.K.
  Limited—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
27.

	
 

	
Nobles Floor
  Machines Limited

	
 

	
United
  Kingdom

	
 

	
Walter-Broadley
  Machines Limited—100%

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
28.

	
 

	
Walter
  Broadley Holdings, LTV

	
 

	
United
  Kingdom

	
 

	
Tennant U.K.
  Limited—100%

* Denotes that the
subsidiary is a Material Subsidiary.

+ Sorma ICB is a
Bulgarian corporation with one class of authorized capital stock, common stock,
that has rights and preferences typical of common stock.

2 

SCHEDULE 6.01

EXISTING
INDEBTEDNESS

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Type of
  Indebtedness

  	
   

  	
  Debt
  Holder

  	
   

  	
  Amount

  	
   

  	
  Purpose

  	
   

  	
  Maturity/Expiry

  
	
  

  	
   

  	
  

  	
   

  	
  

  	
   

  	
  

  	
   

  	
  

  
	
  Letters
  of Credit

  	
   

  	
  ABN
  AMRO Bank N.V.

  	
   

  	
  €
  700,000.00

  	
   

  	
  Lindhaus,
  Italy

  	
   

  	
  3/22/2008

  
	
   

  	
   

  	
  US
  Bank

  	
   

  	
  A$100,000

  	
   

  	
  National
  Australia Bank, Australia

  	
   

  	
  11/18/2009

  
	
   

  	
   

  	
  US
  Bank

  	
   

  	
  US$100,000

  	
   

  	
  ADP,
  Inc

  	
   

  	
  5/18/2008

  
	
   

  	
   

  	
  US
  Bank

  	
   

  	
  US$9,000

  	
   

  	
  Louisville
  Gas and Electric

  	
   

  	
  11/15/2007

  
	
   

  	
   

  	
  US
  Bank

  	
   

  	
  US$1,750,000

  	
   

  	
  Sentry
  Insurance

  	
   

  	
  4/25/2008

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Hedge
  contracts

  	
   

  	
  US
  Bank

  	
   

  	
  A$144,2000

  	
   

  	
  Hedge
  net assets for Australia

  	
   

  	
  7/11/2007

  
	
   

  	
   

  	
  US
  Bank

  	
   

  	
  C$7,320,000

  	
   

  	
  Hedge
  net assets for Canada

  	
   

  	
  6/29/2007

  
	
   

  	
   

  	
  US
  Bank

  	
   

  	
  ¥152,468,000

  	
   

  	
  Hedge
  net assets for Japan

  	
   

  	
  7/11/2007

  
	
   

  	
   

  	
  Bank
  of America

  	
   

  	
  €
  36,466,000

  	
   

  	
  Hedge
  inter-company receivable - Tennant N.V.

  	
   

  	
  6/29/2007

  
	
   

  	
   

  	
  Bank
  of America

  	
   

  	
  €
  2,850,000

  	
   

  	
  Hedge
  inter-company receivable - Tennant N.V.

  	
   

  	
  6/29/2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Loan
  Facilities

  	
   

  	
  ABN
  AMRO Bank N.V.

  	
   

  	
  €
  5,000,000

  	
   

  	
  Overdraft
  Facility to aid pooling arrangement in Netherlands

  	
   

  	
  3/22/2008

  
	
   

  	
   

  	
  ABN
  AMRO Bank N.V.

  	
   

  	
  €
  150,000

  	
   

  	
  Overdraft
  Facility for Germany

  	
   

  	
  open
  ended

  

SCHEDULE 6.02

EXISTING LIENS

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Debtor

  	
   

  	
  Secured
  Party

  	
   

  	
  Collateral

  	
   

  	
  Agreement

  
	
  

  	
   

  	
  

  	
   

  	
  

  	
   

  	
  

  
	
  Tennant Company

  	
   

  	
  ABN AMRO Bank N.V.

  	
   

  	
  A security interest and contractual right of setoff
  in and to all money and property of Tennant Company now or at any time
  hereafter coming within the Secured Party’s custody or control, including,
  without limitation, all certificates of deposit and other deposits and
  accounts, whether such certificates of deposit or accounts have matured or
  not and whether exercise of such right of setoff results in loss of interest
  or other penalty under the terms of the certificate of deposit or other
  account agreement

  	
   

  	
  Limited Corporate Guarantee, dated January 12, 2003,
  executed by Tennant Company in favor of ABN AMRO Bank N.V.

  

SCHEDULE 6.08

RESTRICTIVE
AGREEMENTS

	
   

  	
   

  
	
  1.

  	
  Restrictions and conditions imposed pursuant to a
  credit agreement between and Tennant Holding B.V., Tennant Europe B.V., and
  Tennant N.V. and ABN AMRO Bank N.V.

  
	
   

  	
   

  
	
  2.

  	
  Restrictions and conditions imposed pursuant to that
  certain agreement between Tennant GmbH & Co. KG and ABN AMRO Bank N.V.Spartan Stores Exhibit 10.1 to Form 8-K (Third Amendment to APA) - 06/21/07

EXHIBIT 10.1

THIRD AMENDMENT TO ASSET PURCHASE AGREEMENT

          THIS THIRD AMENDMENT ("Amendment") is made as of June 15, 2007, by and among G&R Felpausch Company, Felpausch Food Centers, LLC, Hastings Catalog Sales, Inc., Felpausch Kalamazoo, LLC, and Felpausch-Kelly, L.L.C. (collectively referred to as "Seller"), and Family Fare, LLC, Prevo's Family Markets, Inc., MSFC, LLC, and Spartan Stores Fuel, LLC (collectively referred to as "Purchaser"). Capitalized terms used in this Amendment and not otherwise defined have the meanings set forth in the Asset Purchase Agreement by and among Purchaser and Seller dated as of March 19, 2007, as amended (the "Asset Purchase Agreement"). 

          WHEREAS, Purchaser and Seller are parties to the Asset Purchase Agreement, as amended by the First Amendment to the Asset Purchase Agreement dated March 29, 2007, and the Second Amendment to the Asset Purchase Agreement dated April 20, 2007;

          WHEREAS, Purchaser and Seller desire to further amend the Asset Purchase Agreement as set forth herein;

          NOW, THEREFORE, in consideration of the mutual promises set forth in the Asset Purchase Agreement and below, the Purchaser and Seller agree as follows:

          1.          Felpausch-Kelly, L.L.C. as a Seller. Prior to Closing, Seller has acquired 100% of the ownership interests of Felpausch-Kelly, L.L.C., a Michigan limited liability company ("Kelly"), which is the owner of the Fuel Station Assets, pursuant to Section 5.21 of the Asset Purchase Agreement. Purchaser and Seller agree that Kelly joins the Asset Purchase Agreement as a Seller, and will sell the Fuel Station Assets to Purchaser at the Closing. The preamble to the Asset Purchase Agreement is hereby amended to read as follows:

          THIS IS AN ASSET PURCHASE AGREEMENT (this "Agreement") made as of March 19, 2007 (the "Signing Date"), by and among (i) G&R Felpausch Company, a Michigan corporation ("FC"); (ii) Felpausch Food Centers, LLC, a Michigan limited liability company ("FLLC"); (iii) Hastings Catalog Sales, Inc., a Michigan corporation ("HCSI"), (iv) Felpausch Kalamazoo, LLC, a Michigan limited liability company ("FK"); (v) Felpausch-Kelly, L.L.C., a Michigan limited liability company ("Kelly"); (vi) Family Fare, LLC, a Michigan limited liability company ("Family Fare"); (vii) Prevo's Family Markets, Inc., a Michigan corporation ("Prevo's"); (viii) MSFC, LLC, a Michigan limited liability company ("MSFC"); and (ix) Spartan Stores Fuel, LLC, a Michigan limited liability company ("Spartan Fuel"). FC, FLLC, FK HCSI, and Kelly individually or collectively (as the context requires), are referred to herein as "Seller." Family Fare, Prevo's, MSFC, and Spartan Fuel individually or collectively (as the context requires) are referred to herein as "Purchaser." Seller and Purchaser are sometimes individually referred to in this Agreement as a "Party" and collectively as the "Parties." Definitions for certain capitalized terms may be found in Article VIII.

          2.          Purchase Price Adjustment. The Asset Purchase Agreement shall be amended to provide for a Purchase Price adjustment to address certain potential claims of the Parties (as detailed in Section 9 of this Amendment) as of the Closing Date. As a result, the following provision of the Asset Purchase Agreement shall be amended as follows:

          Section 1.3(a) of the Asset Purchase Agreement shall be amended to replace "Thirty-Eight Million Five Hundred Thousand Dollars ($38,500,000)" with "Thirty-Eight Million Forty-Nine Thousand One Hundred Dollars ($38,049,100)."

          3.          Payment of Purchase Price. The following provisions of the Asset Purchase Agreement shall be amended as follows:

          Section 1.3(c)(i) of the Asset Purchase Agreement shall be amended to replace "Thirty-Six Million Five Hundred Thousand Dollars ($36,500,000)" with "Thirty-Six Million Forty-Nine Thousand One Hundred Dollars ($36,049,100)."

          4.          Sublease for Certain Premises. As an inducement for Purchaser to assume certain lease obligations at the Jackson and Eaton Rapids Individual Premises (collectively referred to in this Amendment as the "Master Lease Premises"), Purchaser and Seller have agreed that Purchaser and the respective landlords of each Master Lease Premises will enter into a Sublease in the form attached hereto as Exhibit A. As a result, Section 2.1 of the Asset Purchase Agreement, as amended, is hereby amended by adding the following paragraph:

          (u)          Purchaser shall have entered into a sublease on terms that are satisfactory to Purchaser with each landlord for the following Individual Premises: Jackson (#270) and Eaton Rapids (#294).

          5.          Effective Time of Closing. The penultimate sentence of Section 1.5(a) of the Asset Purchase Agreement is amended by deleting "11:59 p.m." and replacing it with "12:01 a.m."

          6.          Correction of Holdback Interest Computation. The final sentence of Section 1.3(c)(ii) of the Asset Purchase Agreement is amended by deleting the word "Signing" and replacing it with the word "Closing."

          7.          Register Cash. Purchaser and Seller have agreed that Seller will not be required to leave Register Cash at any of the Individual Premises. Therefore, the Asset Purchase Agreement is amended as follows:

	 	
a.
	
Section 1.1(b)(ii) of the Asset Purchase Agreement is amended by deleting the following: "the Register Cash which is added to the Purchase Price in accordance with Section 1.3(c)(i) and Section 5.22,".

	 	 	 
	 	
b.
	
Section 1.3(c)(i) of the Asset Purchase Agreement is amended by deleting the reference to the Register Cash and shall read as follows:

2

	 	 	
On Closing Date, Purchaser shall pay Seller Thirty-Six Million Forty-Nine Thousand One Hundred Dollars ($36,049,100), plus (A) the Merchandise Value, and (B) the Proration Amount (if any) to be added pursuant to Section 1.4, less (V) the Fuel Station Assets Purchase Price, if applicable, in accordance with Section 1.3(c)(iii), (W) Security Deposits Owed, (X) the Estimated Coupon Amount, (Y) the Estimated Gift Certificates Amount, and (Z) the Proration Amount (if any) to be deducted pursuant to Section 1.4 (after all such adjustments, the "Closing Date Cash Payment") in immediately available United States funds by wire transfer pursuant to instructions provided by Seller prior to the Closing.
	 

	 	 	 
	 	
c.
	
Section 5.22 of the Asset Purchase Agreement is deleted in its entirety and replaced with "[Reserved]."

	 	 	 
	 	
d.
	
The definition of Register Cash set forth in Article VIII is deleted in its entirety.

          8.          Certain Personal Property Leases. For a period beginning on the date of this Amendment and continuing for 60 days thereafter, Seller covenants and agrees to maintain the specific leases set forth on Exhibit B at each Individual Premises in effect as of the Signing Date (the "Equipment Leases"). Seller further agrees to permit Purchaser to use the equipment that is the subject of the Equipment Leases at the respective Individual Premises for that period of time. Purchaser will reimburse Seller for the lease costs associated with the such equipment and will indemnify, defend, and hold harmless Seller for all liabilities arising from Purchaser's use of such equipment. 

          9.          Waiver of Certain Claims. In consideration of the Purchase Price adjustment set forth in Paragraph 1 of this Amendment and other good and valuable consideration: 

	 	
a.
	
Purchaser waives its right to any and all remedies, including without limitation, any indemnification under Section 7.2(a)(i) of the Asset Purchase Agreement, based on any claim of breach of the representations and warranties of Seller to the extent based on the items set forth in Exhibit C to this Amendment. Notwithstanding anything to the contrary contained in this Amendment, nothing herein shall affect Purchaser's right to seek indemnification based on facts or circumstances that are unknown or should have been known based upon the items set forth on Exhibit C to Purchaser as of the Closing Date. All other rights of Purchaser to seek indemnification under Article 7 of the Asset Purchase Agreement shall remain unaffected.

	 	 	 
	 	
b.
	
Purchaser expressly waives its right, if any, to delay closing or to not close the transactions contemplated by the Asset Purchase Agreement based on an asserted failure to satisfy any of the conditions described in Section 2.1 of the Asset Purchase Agreement to the extent such assertions are based on the items set forth in Exhibit C to this Amendment.

3

          10.          Escrow of Amount to Correct Defects. The parties agree that the last four sentences of the first paragraph of Section 5.13 shall be deleted in their entirety. Purchaser and Seller further agree that an amount equal to $841,754 shall be escrowed with Transnation Title Insurance Company to be used to correct the Defects set forth in Exhibit D to this Amendment (which the parties agree is the list of outstanding Defects as determined in accordance with the definitions set forth in subsection (i) of the second paragraph of Section 5.13). Such amount is equal to 110% of :(a) the amount estimated to correct such Defects ($977,831) minus (b) $212,600. Purchaser shall first fund $212,600 to correct such Defects, and then shall use such escrowed amount to correct any remaining Defects set forth on Exhibit D. Any proceeds remaining in escrow following correction of such Defects shall be released to Seller. To the extent the funds escrowed are insufficient to correct such Defects, any remaining amounts needed to correct such Defects shall be deemed an Excluded Liability and Purchaser shall have the ability to setoff such amount against the Holdback Amount. 

          11.          Removal of Boiler and Incinerator. Seller covenants and agrees to discontinue and remove (if applicable) the boiler currently located at the Hastings Premises (Store 290) and the incinerator currently located at the Charlotte Premises (Store 293). In addition, Seller covenants and agrees to make any necessary repairs and/or additions to such Premises necessary so that such Premises are fully functional without such equipment and complies with tenant's obligations under the Lease at the respective Premises.

          12.          Indemnity Account. In accordance with the Purchase Agreement, Purchaser and Seller had agreed to enter into the Account Control Agreement with respect to Seller's account with Wachovia Securities. Wachovia Securities has declined to enter into the Account Control Agreement. Consequently, Purchaser and Seller agree to increase the Holdback Amount by Three Million Dollars ($3,000,000). Such additional portion of the Holdback Amount shall be used to fund the establishment of an Indemnity Account if and when the Parties enter into the Account Control Agreement satisfactory to Purchaser and Seller with an Investment Intermediary. Accordingly, Section 9.15 of the Asset Purchase Agreement is amended to read as follows:

          9.15    Indemnity Account. FC shall use commercially reasonable efforts to establish, as soon as practicable following the Closing, an account with an investment intermediary mutually agreeable to Purchaser and Seller ("Investment Intermediary") having a minimum value as of the day following the establishment of the account of the lesser of: Three Million Dollars ($3,000,000); or the amount of the Holdback Amount then remaining (the "Indemnity Account"). The establishment of the Indemnity Account shall be funded from the Holdback Amount. The Indemnity Account shall be subject to an Account Control Agreement (in the form of Exhibit I attached hereto) between Purchaser, FC and the Investment Intermediary which shall restrict the utilization of the funds in the Indemnity Account to payment of Seller's indemnification obligations under Section 7.2 for a period of eighteen (18) months from the Closing Date.

In addition, Section 1.3(c)(ii) of the Asset Purchase Agreement is amended to read as follows:

4

          (ii)          At Closing, Purchaser shall holdback a portion of the Purchase Price equal to Five Million Dollars ($5,000,000) (the "Holdback Amount"), a portion of which shall be used to fund the Indemnity Account pursuant to Section 9.15 of this Agreement. The Holdback Amount shall be reduced in connection with the amounts that Seller may owe to Purchaser following the Closing arising pursuant to Section 5.10 (Coupons and Gift Certificates) and Section 7.2 (General Indemnification). Any Holdback Amount remaining after eighteen (18) months after the Closing Date (the "Holdback Period") after taking into account the reductions specified above shall be paid to Seller by wire transfer of immediately available funds. Purchaser shall pay to Seller interest on the portion of the Holdback Amount released after the expiration of the Holdback Period at the rate of 5% from the Closing Date to the expiration of the Holdback Period.

          13.          No Other Changes. All other terms, conditions, covenants, obligations and agreements in the Asset Purchase Agreement shall remain in full force and effect and without any change due to this Amendment.

          14.          Counterparts. This Amendment may be executed in multiple counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same document.

5

                    IN WITNESS WHEREOF, the Parties hereto have caused this Third Amendment to be duly executed as of the date first set forth above.

	
G&R Felpausch Company
	
 
	
Family Fare, LLC

	
 
	
 
	
 

	
By:
	
/s/ Mark S. Feldpausch

	
 
	
By:
	
/s/ Craig C. Sturken

	
Name:
	
Mark S. Feldpausch
	
 
	
Name:
	
Craig C. Sturken

	
Its:
	
Chief Executive Officer
	
 
	
Its:
	
President

	
 
	
 
	
 

	
Felpausch Food Centers, LLC
	
 
	
Prevo's Family Markets, Inc.

	
 
	
 
	
 

	
By:
	
/s/ Mark S. Feldpausch

	
 
	
By:
	
/s/ Craig C. Sturken

	
Name:
	
Mark S. Feldpausch
	
 
	
Name:
	
Craig C. Sturken

	
Its:
	
Manager
	
 
	
Its:
	
President

	
 
	
 
	
 

	
Hastings Catalog Sales, Inc.
	
 
	
MSFC, LLC

	
 
	
 
	
 

	
By:
	
/s/ Mark S. Feldpausch

	
 
	
By:
	
/s/ Craig C. Sturken

	
Name:
	
Mark S. Feldpausch
	
 
	
Name:
	
Craig C. Sturken

	
Its:
	
Chief Executive Officer
	
 
	
Its:
	
President

	
 
	
 
	
 

	
Felpausch Kalamazoo, LLC
	
 
	
SPARTAN STORES FUEL, LLC

	
 
	
 
	
 

	
By:
	
/s/ Mark S. Feldpausch

	
 
	
By:
	
/s/ Craig C. Sturken

	
Name:
	
Mark S. Feldpausch
	
 
	
Name:
	
Craig C. Sturken

	
Its:
	
Manager
	
 
	
Its:
	
Vice President

	
 
	
 
	
 

	
Felpausch-Kelly, L.L.C.
	
 
	
 

	
 
	
 
	
 

	
By:
	
/s/ Mark S. Feldpausch

	
 
	
 
	
 

	
Name:
	
Mark S. Feldpausch
	
 
	
 
	
 

	
Its:
	
Manager
	
 
	
 
	
 

	
"SELLER"
	
 
	
"PURCHASER"

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