Document:

exhibit_10-2.htm

    
      
        Exhibit
10.2

        EXECUTIVE
EMPLOYMENT AGREEMENT

         

        This
Executive Employment Agreement (“Agreement”)
is made effective as of April 14, 2008, (the “Effective
Date”) by and between SCOLR Pharma, Inc. (“Company”)
and Stephen J. Turner (“Executive”).

         

        The
parties agree as follows:

         

        1. Employment.  Company
hereby employs Executive, and Executive hereby accepts such employment, upon the
terms and conditions set forth herein.

         

        2. Duties.

         

        2.1 Position.  Executive
is employed as Vice President of Research and Development and Chief Technical
Officer and shall have the duties and responsibilities assigned by Company’s
Chief Executive Officer, both upon the Effective Date and as may reasonably be
assigned from time to time.  Executive shall perform faithfully and
diligently all duties assigned to Executive.  Company reserves the
right to modify Executive’s position and duties at any time in its sole and
absolute discretion, provided that the duties assigned are consistent with the
position of a senior executive and that Executive continues to report to the
Chief Executive Officer.

         

        2.2 Best
Efforts/Full-time.  Executive will expend Executive’s best
efforts on behalf of Company, and will abide by all policies and decisions made
by Company, as well as all applicable federal, state and local laws, regulations
or ordinances.  Executive will act in the best interest of Company at
all times.  Executive shall devote Executive’s full business time and
efforts to the performance of Executive’s assigned duties for
Company.

         

        2.3  Work
Location.  Executive’s principal place of work shall be in
Bellevue, Washington, or such other location as the parties may agree upon from
time to time.

         

        3. At-Will
Employment Relationship.  Executive’s employment with Company
is at-will and not for any specified period and may be terminated, with or
without cause, by either Executive or Company, except as otherwise specified in
Section 7 below.  No representative of Company, other than an
authorized representative, has the authority to alter the at-will employment
relationship.  Any change to the at-will employment relationship must
be by specific, written agreement signed by Executive and a designated
representative of Company.  Nothing in this Agreement is intended to
or should be construed to contradict, modify or alter this at-will
relationship.

         

        4. Compensation.

         

        4.1 Base
Salary.  As compensation for Executive’s performance of
Executive’s duties hereunder, Company shall pay to Executive as an initial base
salary of Two Hundred Fifty-two Thousand Eight Hundred Dollars ($252,800) per
year (the “Base
Salary”), payable in accordance with the normal payroll practices of
Company, less required deductions for state and federal withholding tax, social
security and all other employment taxes and payroll deductions.  In
the event Executive’s employment under this Agreement is terminated by either
party, for any reason, Executive will be paid the Base Salary, prorated to the
date of termination.

         

        4.2 Incentive
Compensation.  Executive will be eligible to receive annual
corporate performance bonuses in accordance with Company’s management incentive
plan, should Company adopt one, or else in accordance with the terms of this
Agreement.  Executive shall be eligible to receive
an

         

        
          
            
              
                 

                Executive
Employment Agreement – S. Turner

                April 14,
2008

              

               

            

            
              1

              
                

              

            

            
               

            

          

        

        
          annual
discretionary bonus of up to thirty-five percent (35%) of Executive’s Base
Salary based on the achievement of targeted corporate and individual performance
goals and objectives agreed on by Executive and
Company.

        

         

        4.3 Performance
and Salary Review.  Company will periodically review
Executive’s performance on no less than an annual basis.  Adjustments
to Executive’s salary or other compensation, if any, will be made by Company in
its sole and absolute discretion.

         

        5. Benefits.  Executive
will be eligible for all customary benefits generally available to executive
employees of Company, subject to the terms and conditions of Company’s
applicable benefit plan documents and policies.  Company reserves the
right to change or eliminate the benefits on a prospective basis, at any time,
effective upon notice to Executive.

         

        6. Business
Expenses.  Executive will be reimbursed for all reasonable,
out-of-pocket business expenses incurred in the performance of Executive’s
duties on behalf of Company.  To obtain reimbursement, expenses must
be submitted promptly, with appropriate supporting documentation, in accordance
with Company’s policies.

         

        7. Termination
of Executive’s Employment.

         

        7.1 Voluntary
Termination by Executive.  Executive may voluntarily terminate
Executive’s employment at any time on thirty (30) days’ advance written notice
to Company, provided that Company may, in its sole discretion, elect to waive
all or any part of such notice period.  In the event of Executive’s
employment is terminated in accordance with this Section 7.1, Executive shall be
entitled to receive only the Base Salary then in effect, prorated to the date of
termination, and any amounts earned and payable pursuant to Sections 5 and 6,
including any accrued but unused vacation (collectively, the “Standard
Entitlements”), and no other amounts.  For purposes of this
Section 7.1, “Base
Salary” means the salary, excluding any bonus or any other additional
compensation or benefits, payable to Executive for the services rendered to
Company at the time of termination.  All other Company obligations to
Executive pursuant to this Agreement will become automatically terminated and
completely extinguished and Executive will not be entitled to receive the
Severance Package described in Section 7.3.

         

        7.2 Termination
for Cause by Company.  Company may terminate Executive’s
employment immediately at any time for Cause (as defined below).  In
the event that Executive’s employment is terminated for Cause, Executive shall
be entitled to receive only the Standard Entitlements, and no other
amounts.  For purposes of this Section 7.2, “Base
Salary” means the salary, excluding any bonus or any other additional
compensation or benefits, payable to Executive for the services rendered to
Company at the time of termination.  All other Company obligations to
Executive pursuant to this Agreement will become automatically terminated and
completely extinguished and Executive will not be entitled to receive the
Severance Package described in Section 7.3.

         

        For
purposes of this Agreement, “Cause”
is defined as: (a) Executive’s conviction (or plea of guilty or nolo
contendere) of fraud, embezzlement, misappropriation, or any felony or any other
act of moral turpitude; (b) acts or omissions constituting gross
negligence, recklessness or willful misconduct on the part of the Executive with
respect to Executive’s obligations to Company or otherwise relating to the
business of Company; (c) Executive’s failure or inability to perform the
essential functions of the position, with or without reasonable accommodation,
due to a mental or physical disability; (d) Executive’s willful neglect of
duties as determined in the sole and exclusive discretion of Company;
(e) Executive’s death; (f) Executive’s material breach of this
Agreement, Company’s Code of Conduct or Company’s Proprietary Information and
Invention Agreement; or (g) any similar or related act or failure to act
which is materially adversely injurious to Company.

         

        
          
            
              
                 

                Executive
Employment Agreement – S. Turner

                April 14,
2008

              

               

            

            
              2

              
                

              

            

            
               

            

          
7.3 Termination
Without Cause by Company.  Company may terminate Executive’s
employment without Cause at any time on thirty (30) days’ advance written notice
to Executive, provided that Company may, in its sole discretion, elect to waive
all or any part of such notice period.  In the event of such
termination, and contingent on the satisfaction of the conditions outlined in
Section 7.6 below (the “Severance
Conditions”), Executive will be paid the Standard Entitlements and the
Severance Package (defined below).  Executive will be paid the
Standard Entitlements for the duration of the required notice period, even if
Company elects to relieve Executive of Executive’s duties at an earlier
time.  All other Company obligations to Executive pursuant to this
Agreement will be automatically terminated and completely
extinguished.

         

        For
purposes of this Agreement, the “Severance
Package” shall include the following:

         

        (a) a
severance payment equal to (i) 87.5% of Executive’s annual Base Salary in effect
on the date of termination, plus (ii) thirty-five percent (35%) of Executive’s
annual Base Salary in effect on the date of termination, less required
deductions, payable in lump sum on the first Company payday following the
satisfaction of the Severance Conditions;

         

        (b)
payment of the premiums required to continue Executive’s group health care
coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1986
(“COBRA”)
for a period of twelve (12) months following the date of termination, provided
Executive elects to continue and remains eligible for such benefits and does not
become eligible for health coverage through another employer during this period;
and

         

        (c) 100%
acceleration of vesting, as of the termination date, of all of the then-unvested
equity awards under any employee benefit plan of Company held by Executive at
the time of such termination or resignation for Good Reason (as defined
below).

         

        7.4 Voluntary
Resignation by Executive for Good Reason Following a Change in
Control.  In the event that in connection with or within twelve
(12) months following a Change of Control (as defined below) Executive resigns
for Good Reason (as defined below), following thirty (30) days’ advance written
notice to Company, provided that Company may, in its sole discretion, elect to
waive all or any part of such notice period, Executive will be entitled to
receive the Standard Entitlements and the Severance Package, contingent on the
satisfaction of the Severance Conditions.  As long as Executive
provides the required notice, Executive will be paid the Standard Entitlements
for the duration of the required notice period, even if Company elects to
relieve Executive of Executive’s duties at an earlier time.  All other
Company obligations to Executive pursuant to this Agreement will become
automatically terminated and completely extinguished.

         

        Executive
will be deemed to have resigned for “Good
Reason” if Executive resigns within ninety (90) days after any of the
following have occurred, without Executive’s written consent: (a) Company
reduces the level of Executive’s responsibilities or changes Executive’s duties
so that Executive’s duties are no longer consistent with the position of a
senior executive; (b) Company reduces Executive’s Base Salary by more than
ten percent (10%), unless such reduction is made as part of, and is generally
consistent with, a general reduction of senior executives’ compensation;
(c) Company relocates Executive’s principal place of work to a location
more than fifty (50) miles from the location specified in Section 2.3; or (d)
Company fails to assign the terms of this Agreement to any successors
contemplated in Section 16.1.  Notwithstanding the foregoing,
Executive’s resignation as a result of any of the foregoing conditions shall be
considered a Voluntary Termination by Executive (as described in Section 7.1)
unless Executive shall have provided written notification to Company of the
condition(s) allegedly constituting Good Reason and Company shall have failed to
correct such condition(s) within ten (10) days after Company’s receipt of such
notice.

         

        
          
            
              
                 

                Executive
Employment Agreement – S. Turner

                April 14,
2008

              

               

            

            
              3

              
                

              

            

            
               

            

          
7.5 Change In
Control.

         

        (a) 280G/Limitation
of Payments and Benefits.    If, due to the benefits
provided under Sections 7.5 or 7.4, as applicable, Executive is subject to any
excise tax due to characterization of any amounts payable under such sections as
excess parachute payments pursuant to Section 4999 of the Internal Revenue
Code of 1986, as amended, and the regulations promulgated thereunder
(collectively, the “Code”),
the amounts payable under such sections will be reduced (to the least extent
possible) in order to avoid any “excess parachute payment” under
section 280G(b)(1) of the Code.

         

        (b) A “Change of
Control” is defined as any one of the following
occurrences:

         

        (i) any
“person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934 (the “Exchange
Act”)), other than a trustee or other fiduciary holding securities of
Company under an employee benefit plan of Company, becomes the “beneficial
owner” (as defined in Rule 13d-3 promulgated under the Exchange Act),
directly or indirectly, of the securities of Company representing more than 50%
of (A) the outstanding shares of common stock of Company or (B) the combined
voting power of the Company’s then-outstanding securities;

         

        (ii) the sale
or disposition of all or substantially all of Company’s assets (or any
transaction having similar effect is consummated);

         

        (iii) Company
is party to a merger or consolidation that results in the holders of voting
securities of Company outstanding immediately prior thereto failing to continue
to represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity) more than 50% of the combined voting power
of the voting securities of Company or such surviving entity outstanding
immediately after such merger or consolidation; or

         

        (iv) the
dissolution or liquidation of Company.

         

        7.6 Conditions
to Receive and Payment of Severance Package.  The Severance
Package pursuant to Sections 7.3 and 7.4, as applicable, will be paid provided
Executive satisfies all of the following conditions (the “Severance
Conditions”):

         

        (a) Executive
complies with all surviving provisions of this Agreement as specified in Section
11.9; and

         

        (b) Executive
executes, at the time of Executive’s termination of employment and within the
same taxable year, or, if later, before the expiration of any applicable
statutory revocation period, a full general release, releasing all claims, known
or unknown, Executive may have against Company arising out of or any way related
to Executive’s employment or termination of employment with
Company.

         

        7.7 Section
409A Compliance.  The parties intend for this Agreement either
to satisfy the requirements of Section 409A or to be exempt from the application
of Section 409A, and this Agreement shall be construed and interpreted
accordingly.  If this Agreement either fails to satisfy the
requirements of Section 409A or is not exempt from the application of Section
409A, then the parties hereby agree to amend or to clarify this Agreement in a
timely manner so that this Agreement either satisfies the requirements of
Section 409A or is exempt from the application of Section
409A.

         

        
          
            
              
                 

                Executive
Employment Agreement – S. Turner

                April 14,
2008

              

               

            

            
              4

              
                

              

            

            
               

            

          
(a) Notwithstanding
any provision in this Agreement to the contrary, in the event Executive is a
“specified employee” as defined in Section 409A, any Severance Payment,
severance benefits or other amounts payable under this Agreement that would be
subject to the special rule regarding payments to “specified employees” under
Section 409A(a)(2)(B) of the Code shall be delayed by six months such that
the first payment is made no earlier that the first date of the seventh month
following the date of Executive’s termination of employment (or the date of
Executive’s death, if earlier).

         

        (b) To ensure
satisfaction of the requirements of Section 409A(b)(3) of the Code, assets
shall not be set aside, reserved in a trust or other arrangement, or otherwise
restricted for purposes of the payment of amounts payable under this
Agreement.

         

        (c) Company
hereby informs Executive that the federal, state, local and/or foreign tax
consequences (including without limitation those tax consequences implicated by
Section 409A) of this Agreement are complex and subject to
change.  Executive hereby acknowledges that Company has advised
Executive that Executive should consult with Executive’s own personal tax or
financial advisor in connection with this Agreement and its tax
consequences.  Executive understands and agrees that Company has no
obligation and no responsibility to provide Executive with any tax or other
legal advice in connection with this Agreement.  Executive agrees that
Executive shall bear sole and exclusive responsibility for any and all adverse
federal, state, local and/or foreign tax consequences (including without
limitation those tax consequences implicated by Section 409A) of this
Agreement, and fully indemnifies and holds Company harmless
therefor.

         

        7.8 Taxes and
Withholdings.  Company may withhold from any amounts payable
under this Agreement, including any benefits or severance pay, such federal,
state, local or international taxes as may be required to be withheld pursuant
to applicable law or regulations.

         

        8. No Conflict
of Interest.  During Executive’s employment with Company,
Executive must not engage in any work, paid or unpaid, that creates a conflict
of interest with Company.  Such work shall include, but is not limited
to, directly or indirectly competing with Company in any way, or acting as an
officer, director, employee, consultant, stockholder, volunteer, lender, or
agent of any business enterprise of the same nature as, or which is in direct
competition with, the business in which Company is now engaged or in which
Company becomes engaged during Executive’s employment with Company, as may be
determined by Company in its sole discretion.  If Company believes
such a conflict exists during Executive’s employment with Company, Company may
take corrective action, which may include asking Executive to choose either to
discontinue the other work or voluntarily resign from employment with
Company.  

         

        9. No
Violation of Rights of Third Parties.  Executive represents
that Executive’s performance of this Agreement does not and will not breach any
agreement to keep in confidence proprietary information, knowledge or data
acquired by Executive prior to Executive’s employment with
Company.  Executive agrees not to disclose to Company, or induce
Company to use, any confidential or proprietary information or material
belonging to any previous employers or others.  Executive warrants
that Executive is not a party to any other agreement that will interfere with
his full compliance with this Agreement.  Executive further agrees not
to enter into any agreement, whether written or oral, in conflict with the
provisions of this Agreement while such provisions remain
effective.

         

        10. Confidentiality
and Proprietary Rights.  Executive represents that Executive
has executed and agrees to abide by Company’s Employee Proprietary Information
and Invention Agreement, which is incorporated herein by
reference.

         

        
          
            
              
                 

                Executive
Employment Agreement – S. Turner

                April 14,
2008

              

               

            

            
              5

              
                

              

            

            
               

            

          
11. Post-Termination
Non-Competition.

         

        11.1 Consideration
For Promise To Refrain From Competing.  Executive agrees that
Executive’s services are special and unique, that Company’s disclosure of
confidential, proprietary information and specialized training and knowledge to
Executive, and that Executive’s compensation and benefits and severance, as
applicable, are partly in consideration of and conditioned upon Executive not
competing with Company.  Executive acknowledges that such
consideration for Executive’s services under this Agreement is adequate
consideration for Executive’s promises contained within this
Section 11.

         

        11.2 Promise To
Refrain From Competing.  In exchange for the consideration
described in Section 11.1, Executive agrees that for the period of one (1) year
following the date Executive ceases to render services to Company, Executive
will not, in any capacity, either directly or indirectly, whether as a owner,
director, officer, manager, consultant, agent or employee: (i) be employed in
any enterprise which is engaged in the business of developing, licensing, or
selling technology, products or services which are directly competitive with the
Business of the Company (as described in Part I, Item 1 of the Company’s Annual
Report on Form 10-K filed with the U.S. Securities and Exchange Commission prior
to the termination date, which is incorporated herein by reference) or with any
technology, products or services being actively developed, with the bona fide
intent to market same, by the Company at the termination date or engaged in any
business that is directly competitive with the Business of the Company, or with
any business in which, to Executive’s knowledge, the Company is preparing to
engage, at the time the Executive’s employment with Company terminates
(“Restricted Business”).  Notwithstanding the foregoing, it shall not
be a violation of this paragraph if Executive performs services for a Restricted
Business that in no way relates to the Company’s primary focus on methods of
oral drug delivery; or (ii) make or hold any investment in any Restricted
Business, whether such investment be by way of loan, purchase of stock or
otherwise, provided that there shall be excluded from the foregoing the
ownership of not more than 1% of the listed or traded stock of any publicly held
corporation.  For purposes of this Section 11, the term “Company”
shall mean and include Company, any subsidiary or affiliate of Company, any
successor to the business of Company (by merger, consolidation, sale of assets
or stock or otherwise) and any other corporation or entity of which Executive
may serve as a director, officer or employee at the request of Company or any
successor of Company.

         

        11.3 Reasonableness
of Restrictions.  Executive represents and agrees that the
restrictions on competition, as to time, geographic area, and scope of activity,
required by this Section 11 are reasonable, do not impose a greater
restraint than is necessary to protect the goodwill and business interests of
Company, and are not unduly burdensome to Executive.  Executive
expressly acknowledges that Company competes on a nationwide basis and that the
geographical scope of these limitations is reasonable and necessary for the
protection of Company’s trade secrets and other confidential and proprietary
information.

         

        11.4 Reformation
if Necessary.  In the event a court of competent jurisdiction
determines that the geographic area, duration, or scope of activity of any
restriction under this Section 11 and its subsections is unenforceable, the
restrictions under this section and its subsections shall not be terminated but
shall be reformed and modified to the extent required to render them valid and
enforceable.

         

        12. Non-Solicitation.  Executive
agrees that during the term of this Agreement and for a period of one
(1) year after the termination of this Agreement, Executive will not,
either directly or indirectly, separately or in association with others,
interfere with, impair, disrupt or damage Company’s

         

        
          
            
              Executive
Employment Agreement – S. Turner

              April 14,
2008 

            

             

          

          
            6

            
              

            

          

          
             

          

        

        business
by soliciting, encouraging or recruiting any of Company’s employees or causing
others to solicit or encourage or recruit any of Company’s employees to
discontinue their employment with Company.

         

        13. Nondisparagement.  Upon
termination of Executive’s employment relationship hereunder, Company and
Executive agree that, unless otherwise legally required to do so, they will each
at all times thereafter refrain from discussing the circumstances relating to
such termination and from disparaging, or describing in a derogatory light, the
performance, capabilities, services, business practices, or ethics of the other
(or of the officers, directors or controlling shareholders of the other). This
provision does not apply to statements made by Executive to Executive’s
immediate family or attorneys, or to statements made by either party in legal
proceedings in conjunction with legal actions to pursue rights and/or remedies
under this Agreement, or as otherwise required by law.

         

        14. Right To
Injunction/ Costs Of Enforcement.  Executive acknowledges that
Company will suffer immediate and irreparable harm that will not be compensable
by damages alone in the event Executive repudiates or breaches Sections 9,10 11,
12 or 13 or threatens or attempts to do so.  In the event of any such
breach or any threatened or attempted breach, Executive agrees that Company, in
addition to and not in limitation of any other rights, remedies or damages
available to it at law or in equity, shall be entitled to obtain temporary,
preliminary and permanent injunctions to prevent or restrain any such breach,
and Company shall not be required to post a bond as a condition for the granting
of such relief.

         

        15. Agreement
to Arbitrate.  In the event of any dispute or claim relating to
or arising out of the employment relationship between Company and Executive or
the termination of that relationship (including, but not limited to, any claims
of wrongful termination or age, sex, race, disability or other discrimination),
Executive and Company agree that all such disputes shall be fully and finally
resolved by binding arbitration conducted before a single neutral arbitrator in
Seattle, Washington pursuant
to the rules for arbitration of employment disputes by the American Arbitration
Association (available at www.adr.org).  This agreement to arbitrate
is subject to the Federal Arbitration Act.  The arbitrator shall
permit adequate discovery and is empowered to award all remedies otherwise
available in a court of competent jurisdiction.  Any judgment rendered
by the arbitrator may be entered by any court of competent
jurisdiction.  The arbitrator shall issue an award in writing and
state the essential findings and conclusions on which the award is
based.  By executing this Agreement, Executive and Company are both
waiving the right to a jury trial with respect to any such
disputes.  Company shall bear the costs of the arbitrator, forum and
filing fees.  Each party shall bear its own respective attorneys’ fees
and all other costs, unless otherwise provided by law and awarded by the
arbitrator.  This arbitration agreement does not include claims that,
by law, may not be subject to mandatory arbitration.

         

        16. General
Provisions.

         

        16.1 Successors
and Assigns.  The rights and obligations of Company under this
Agreement shall inure to the benefit of and shall be binding upon the successors
and assigns of Company.  Executive shall not be entitled to assign any
of Executive’s rights or obligations under this Agreement.

         

        16.2 Waiver.  Either
party’s failure to enforce any provision of this Agreement shall not in any way
be construed as a waiver of any such provision, or prevent that party thereafter
from enforcing each and every other provision of this
Agreement.

         

        16.3 Severability.  In
the event any provision of this Agreement is found to be unenforceable by an
arbitrator or court of competent jurisdiction, such provision shall be deemed
modified to the extent necessary to allow enforceability of the provision as so
limited, it being intended that the parties shall receive the benefit
contemplated herein to the fullest extent permitted by law.  If a
deemed modification is not satisfactory in the judgment of such arbitrator or
court, the unenforceable 

         

        
          
            
              
                 

                Executive
Employment Agreement – S. Turner

                April 14,
2008

              

               

            

            
              7

              
                

              

            

            
               

            

          

        

        
          provision
shall be deemed deleted, and the validity and enforceability of the remaining
provisions shall not be affected thereby.

        

         

        16.4 Interpretation;
Construction.  The headings set forth in this Agreement are for
convenience only and shall not be used in interpreting this
Agreement.  This Agreement has been drafted by legal counsel
representing Company, but Executive has participated in the negotiation of its
terms.  Furthermore, Executive acknowledges that Executive has had an
opportunity to review and revise the Agreement and have it reviewed by legal
counsel, if desired, and, therefore, the normal rule of construction to the
effect that any ambiguities are to be resolved against the drafting party shall
not be employed in the interpretation of this Agreement.

         

        16.5 Governing
Law.  This Agreement will be governed by and construed in
accordance with the laws of the United States and the State of
Washington.  Each party consents to the jurisdiction and venue of the
state or federal courts in King County, Washington, if applicable, in any
action, suit, or proceeding arising out of or relating to this
Agreement.

         

        16.6 Notices.  Notices
and all other communications contemplated by this Agreement shall be in writing
and shall be deemed to have been duly given (i) by personal delivery when
delivered personally; (ii) by overnight courier upon written verification of
receipt; (iii) by telecopy or facsimile transmission upon acknowledgment of
receipt of electronic transmission; or (iv) by certified or registered mail,
return receipt requested, upon verification of receipt.  In the case
of Executive, mailed notices shall be addressed to the home address which
Executive most recently communicated to Company in writing.  In the
case of Company, mailed notices shall be addressed to its corporate
headquarters, and all notices shall be directed to the attention of the Board of
Directors.

         

        16.7 Survival.  Sections
7 (“Termination of Executive’s Employment”), 9 (“No Violation of Rights of Third
Parties”), 10 (“Confidentiality and Proprietary Rights”), 11 (“Post-Termination
Non-Competition”), 12 (“Non-Solicitation”), 13 (“Nondisparagement”), 14 (“Right
to Injunction/ Costs of Enforcement” ), 15 (“Agreement to Arbitrate”), 16
(“General Provisions”) and 17 (“Entire Agreement”) of this Agreement shall
survive Executive’s employment by Company.

         

        17. Entire
Agreement.  This Agreement, including Company’s Employee
Proprietary Information and Invention Agreement incorporated herein by
reference, constitutes the entire agreement between the parties relating to this
subject matter and supersedes all prior or simultaneous representations,
discussions, negotiations, and agreements, whether written or
oral.  This Agreement may be amended or modified only with the written
consent of Executive and an authorized representative of Company.  No
oral waiver, amendment or modification will be effective under any circumstances
whatsoever.

         

         

         

         

         

        
          [SIGNATURE
PAGE FOLLOWS]

           

          
            
              
                
                   

                  Executive
Employment Agreement – S. Turner

                  April 14,
2008

                

                 

              

              
                8

                
                  

                

              

              
                 

              

            

          

           

          THE
PARTIES TO THIS EMPLOYMENT AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY
UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES
HAVE EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW.

           

           

          Dated: April 14,
2008                           /s/ Stephen J. Turner        

          Stephen
J. Turner

           

           

          SCOLR
PHARMA, INC.

           

           

          Dated: April 14,
2008           By:   /s/ Daniel O. Wilds        

           

          Name:
Daniel O.
Wilds

           

          Its:
President
& CEO     

          
             

             

             

            Executive
Employment Agreement – S. Turner

            April 14,
2008

          

          9ex10-1.htm

    

    Exhibit
10.1

    

    CREDIT
AGREEMENT

     

    AMONG

     

    CAMERON
INTERNATIONAL CORPORATION,

     

    AND
THE OTHER BORROWERS NAMED HEREIN

     

    AS
BORROWERS,

     

    THE
LENDERS NAMED HEREIN,

     

    JPMORGAN
CHASE BANK, N.A.

     

    AS
ADMINISTRATIVE AGENT,

     

    J.P.
MORGAN SECURITIES INC.

     

    AS
LEAD ARRANGER AND SOLE BOOK RUNNER,

     

    AND

     

    THE
ROYAL BANK OF SCOTLAND PLC, THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., DNB NOR BANK
ASA, AND EXPORT DEVELOPMENT CANADA

     

    AS
SYNDICATION AGENTS

     

    DATED
AS OF

     

    APRIL
14, 2008

     

     

     

     

     

     

    
      
        
           

        

        
           

          
            

          

        

        
           

          
            TABLE
OF CONTENTS

            

            Page

             

          

        

      

    

    

    
      	
              ARTICLE I

            	
              DEFINITIONS

            	
              1

            
	
              ARTICLE II

            	
              THE
      CREDITS

            	
              20

            
	
              2.1

            	
              Commitment

            	
              20

            
	
              2.2

            	
              Determination
      of Dollar Amounts; Required Payments; Termination

            	
              20

            
	
              2.3

            	
              Ratable
      Loan

            	
              21

            
	
              2.4

            	
              Types
      of Advances

            	
              21

            
	
              2.5

            	
              Swing
      Line Loans

            	
              22

            
	
              25.1

            	
              Canadian
      Swing Line Loans

            	
              22

            
	
              2.5.2

            	
              US
      Swing Line Loans

            	
              24

            
	
              2.5.3

            	
              UK
      Swing Line Loans

            	
              26

            
	
              2.5.4

            	
              Singapore
      Swing Line Loans

            	
              28

            
	
              2.6

            	
              Facility
      Fee; Usage Fee; Reductions in Aggregate Commitment

            	
              30

            
	
              2.6.1

            	
              Facility
      Fee

            	
              30

            
	
              2.6.2

            	
              Usage
      Fee

            	
              31

            
	
              2.6.3

            	
              Reductions
      in Aggregate Commitment

            	
              31

            
	
              2.7

            	
              Minimum
      Amount of Each Advance

            	
              31

            
	
              2.8

            	
              Optional
      Principal Payments

            	
              31

            
	
              2.9

            	
              Method
      of Selecting Types and Interest Periods for New Advances

            	
              32

            
	
              2.10

            	
              Conversion
      and Continuation of Outstanding Advances

            	
              32

            
	
              2.11

            	
              Method
      of Borrowing

            	
              34

            
	
              2.12

            	
              Changes
      in Interest Rate, etc

            	
              34

            
	
              2.13

            	
              Rates
      Applicable After Default

            	
              35

            
	
              2.14

            	
              Method
      of Payment

            	
              35

            
	
              2.15

            	
              [Reserved]

            	
              36

            
	
              2.16

            	
              Noteless
      Agreement; Evidence of Indebtedness

            	
              36

            
	
              2.17

            	
              Telephonic
      Notices

            	
              37

            
	
              2.18

            	
              Interest
      Payment Dates; Interest and Fee Basis

            	
              37

            
	
              2.19

            	
              Notification
      of Advances, Interest Rates, Prepayments and Commitment
      Reductions

            	
              38

            
	
              2.20

            	
              Lending
      Installations

            	
              38

            
	
              2.21

            	
              Non-Receipt
      of Funds by an Administrative Agent

            	
              39

            
	
              2.22

            	
              Market
      Disruption

            	
              39

            
	
              2.23

            	
              Judgment
      Currency

            	
              40

            
	
              2.24

            	
              Additional
      Borrowing Subsidiaries

            	
              40

            
	
              2.25

            	
              Lender
      Replacement

            	
              41

            
	
              2.26

            	
              Facility
      LCs

            	
              41

            
	
              2.26.1

            	
              Issuance

            	
              41

            
	
              2.26.2

            	
              Participations

            	
              42

            
	
              2.26.3

            	
              Notice

            	
              42

            
	
              2.26.4

            	
              LC
      Fees

            	
              42

            
	
              2.26.5

            	
              Administration;
      Reimbursement by Lenders

            	
              43

            
	
              2.26.6

            	
              Reimbursement
      by Borrower

            	
              44

            
	
              2.26.7

            	
              Obligations
      Absolute

            	
              44

            
	
              2.26.8

            	
              Actions
      of LC Issuers

            	
              45

            
	
              2.26.9

            	
              Indemnification

            	
              45

            
	
              2.26.10

            	
              Lenders'
      Indemnification

            	
              46

            
	
              2.26.11

            	
              Facility
      LC Collateral Account

            	
              46

            
	
              2.26.12

            	
              Rights
      as a Lender

            	
              48

            
	
              2.26.13

            	
              Bank
      Guaranties

            	
              48

            
	
              2.26.14

            	
              Facility
      LCs Issued for Subsidiaries

            	
              48

            
	
              2.27

            	
              Increase
      in Aggregate Commitment

            	
              48

            
	
              2.28

            	
              Extension
      of Facility Termination Date

            	
              50

            
	
              ARTICLE
      III

            	
              YIELD
      PROTECTION; TAXES

            	
              52

            
	
              3.1

            	
              Yield
      Protection

            	
              52

            
	
              3.2

            	
              Changes
      in Capital Adequacy Regulations

            	
              54

            
	
              3.3

            	
              Availability
      of Types of Advances

            	
              55

            
	
              3.4

            	
              Funding
      Indemnification

            	
              55

            
	
              3.5

            	
              Taxes

            	
              55

            
	
              3.6

            	
              Lender
      Statements; Survival of Indemnity

            	
              58

            
	
              ARTICLE
      IV

            	
              CONDITIONS
      PRECEDENT

            	
              59

            
	
              4.1

            	
              Initial
      Credit Extensions

            	
              59

            
	
              4.1.1

            	
              Closing
      Documents

            	
              59

            
	
              4.1.2

            	
              Fees

            	
              60

            
	
              4.2

            	
              Each
      Credit Extension

            	
              61

            
	
              ARTICLE
      V

            	
              REPRESENTATIONS
      AND WARRANTIES

            	
              61

            
	
              5.1

            	
              Existence
      and Standing

            	
              61

            
	
              5.2

            	
              Authorization
      and Validity

            	
              62

            
	
              5.3

            	
              No
      Conflict; Government Consent

            	
              62

            
	
              5.4

            	
              Financial
      Statements

            	
              62

            
	
              5.5

            	
              Taxes

            	
              62

            
	
              5.6

            	
              Litigation
      and Contingent Obligations

            	
              63

            
	
              5.7

            	
              Subsidiaries

            	
              63

            
	
              5.8

            	
              ERISA

            	
              63

            
	
              5.9

            	
              Accuracy
      of Information

            	
              64

            
	
              5.10

            	
              Regulation
      U

            	
              64

            
	
              5.11

            	
              Material
      Agreements

            	
              64

            
	
              5.12

            	
              Compliance
      With Laws

            	
              64

            
	
              5.13

            	
              Ownership
      of Properties

            	
              64

            
	
              5.14

            	
              Plan
      Assets; Prohibited Transactions

            	
              64

            
	
              5.15

            	
              Environmental
      Matters

            	
              64

            
	
              5.16

            	
              Investment
      Company Act

            	
              65

            
	
              5.17

            	
              [Reserved]

            	
              65

            
	
              5.18

            	
              Reportable
      Transaction

            	
              65

            
	
              5.19

            	
              Foreign
      Assets Control Regulations, etc.

            	
              65

            
	
              5.20

            	
              Obligations
      Pari Passu

            	
              65

            
	
              ARTICLE
      VI

            	
              COVENANTS

            	
              65

            
	
              6.1

            	
              Financial
      Reporting

            	
              66

            
	
              6.2

            	
              Use
      of Proceeds

            	
              67

            
	
              6.3

            	
              Notice
      of Default

            	
              67

            
	
              6.4

            	
              Conduct
      of Business

            	
              67

            
	
              6.5

            	
              Taxes

            	
              68

            
	
              6.6

            	
              Insurance

            	
              68

            
	
              6.7

            	
              Compliance
      with Laws

            	
              68

            
	
              6.8

            	
              Maintenance
      of Properties

            	
              68

            
	
              6.9

            	
              Inspection

            	
              68

            
	
              6.1

            	
              Capital
      Stock and Dividends

            	
              69

            
	
              6.11

            	
              Indebtedness

            	
              69

            
	
              6.12

            	
              Merger

            	
              70

            
	
              6.13

            	
              Sale
      of Assets

            	
              70

            
	
              6.14

            	
              Sale
      of Accounts

            	
              70

            
	
              6.15

            	
              Liens

            	
              70

            
	
              6.16

            	
              Affiliates

            	
              71

            
	
              6.17

            	
              Environmental
      Matters

            	
              71

            
	
              6.18

            	
              Restrictions
      on Subsidiary Payments

            	
              71

            
	
              6.19

            	
              ERISA
      Compliance

            	
              72

            
	
              6.20

            	
              Total
      Debt to Total Capitalization Ratio

            	
              72

            
	
              ARTICLE
      VII

            	
              DEFAULTS

            	
              72

            
	
              ARTICLE
      VIII

            	
              ACCELERATION,
      WAIVERS, AMENDMENTS AND REMEDIES

            	
              75

            
	
              8.1

            	
              Acceleration;
      Facility LC Collateral Account

            	
              75

            
	
              8.2

            	
              Amendments

            	
              76

            
	
              8.3

            	
              Preservation
      of Rights

            	
              77

            
	
              ARTICLE
      IX

            	
              GENERAL
      PROVISIONS

            	
              77

            
	
              9.1

            	
              Survival
      of Representations

            	
              77

            
	
              9.2

            	
              Governmental
      Regulation

            	
              77

            
	
              9.3

            	
              Headings

            	
              78

            
	
              9.4

            	
              Entire
      Agreement

            	
              78

            
	
              9.5

            	
              Several
      Obligations; Benefits of this Agreement

            	
              78

            
	
              9.6

            	
              Expenses;
      Indemnification

            	
              78

            
	
              9.7

            	
              Numbers
      of Documents

            	
              80

            
	
              9.8

            	
              Accounting

            	
              80

            
	
              9.9

            	
              Severability
      of Provisions

            	
              80

            
	
              9.10

            	
              Nonliability
      of Lenders

            	
              80

            
	
              9.11

            	
              Confidentiality

            	
              81

            
	
              9.12

            	
              Nonreliance

            	
              82

            
	
              9.13

            	
              Disclosure

            	
              82

            
	
              9.14

            	
              USA
      PATRIOT Act Notice

            	
              82

            
	
              9.15

            	
              Interest
      Rate Limitation

            	
              82

            
	
              ARTICLE
      X

            	
              THE
      ADMINISTRATIVE AGENT

            	
              83

            
	
              ARTICLE
      XI

            	
              SETOFF;
      RATABLE PAYMENTS

            	
              84

            
	
              11.1

            	
              Setoff

            	
              84

            
	
              11.2

            	
              Ratable
      Payments; Sharing of Set-offs

            	
              85

            
	
              ARTICLE
      XII

            	
              BENEFIT
      OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS

            	
              86

            
	
              12.1

            	
              Successors
      and Assigns

            	
              86

            
	
              12.2

            	
              Dissemination
      of Information

            	
              89

            
	
              ARTICLE
      XIII

            	
              NOTICES

            	
              90

            
	
              13.1

            	
              Notices

            	
              90

            
	
              13.2

            	
              Change
      of Address

            	
              90

            
	
              ARTICLE
      IV

            	
              COUNTERPARTS

            	
              90

            
	
              ARTICLE
      XV

            	
              CHOICE
      OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL

            	
              91

            
	
              15.1

            	
              CHOICE
      OF LAW

            	
              91

            
	
              15.2

            	
              CONSENT
      TO JURISDICTION

            	
              91

            
	
              15.3

            	
              WAIVER
      OF JURY TRIAL

            	
              92

            
	 
      	 
      	 
      

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      TABLE
OF CONTENTS

      (continued)

    

    

    SCHEDULES AND
EXHIBITS

     

    PRICING
SCHEDULE

     

    
      	
              EXHIBIT
      A-1

            	
              FORM
      OF IN-HOUSE COUNSEL OPINION

            

    

     

    
      	
              EXHIBIT
      A-2

            	
              FORM
      OF OUTSIDE COUNSEL OPINION

            

    

     

    
      	
              EXHIBIT
      B

            	
              FORM
      OF COMPLIANCE CERTIFICATE

            

    

     

    
      	
              EXHIBIT
      C

            	
              FORM
      OF ASSIGNMENT AND ASSUMPTION
AGREEMENT

            

    

     

    
      	
              EXHIBIT
      D

            	
              FORM
      OF LOAN/CREDIT RELATED MONEY TRANSFER
  INSTRUCTION

            

    

     

    
      	
              EXHIBIT
      E

            	
              FORM
      OF NOTE

            

    

     

    
      	
              EXHIBIT
      F

            	
              FORM
      OF JOINDER AGREEMENT

            

    

     

    
      	
              EXHIBIT
      G

            	
              FORM
      OF GUARANTY

            

    

     

    
      	
              SCHEDULE
      1

            	
              MANDATORY
      COST FORMULAE

            

    

     

    
      	
              SCHEDULE
      2

            	
              SUBSIDIARIES

            

    

     

    
      	
              SCHEDULE
      3

            	
              LIENS

            

    

     

    
      	
              SCHEDULE
      4

            	
              EUROCURRENCY
      PAYMENT OFFICES OF THE AGENT

            

    

     

    
      	
              SCHEDULE
      5

            	
              EXISTING
      LETTERS OF CREDIT

            

    

     

    

    
      
        
          
            -vi-

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    CREDIT
AGREEMENT

     

    This
Agreement, dated as of April 14, 2008, is among Cameron International
Corporation, Cameron Limited, Cameron GmbH, Cameron (Singapore) Pte. Ltd.,
Cameron Canada Corporation, Cameron (Luxembourg) SARL, the Lenders (defined
below), The Royal
Bank of Scotland plc, The Bank of Toyko-Mitsubishi UFJ, Ltd., DnB NOR Bank ASA,
and Export Development Canada as Syndication Agents, and JPMorgan Chase Bank,
N.A., as L/C Issuer and Administrative Agent.  The parties hereto
agree as follows:

     

    ARTICLE
I

    DEFINITIONS

     

    As used
in this Agreement:

     

    "Additional Lender" is
defined in Section 2.27(a).

     

    "Administrative Agent"
means JPMorgan Chase Bank, N.A. in its capacity as contractual representative of
the Lenders pursuant to Article X, and
not in its individual capacity as a Lender, and any successor Administrative
Agent appointed pursuant to Article X.

     

    "Administrative
Questionnaire" means an administrative questionnaire supplied by the
Administrative Agent.

     

    "Advance" means a
borrowing hereunder, (a) made by some or all of the Lenders on the same
Borrowing Date, or (b) converted or continued by the Lenders on the same date of
conversion or continuation, consisting, in either case, of the aggregate amount
of the several Loans of the same Type and, in the case of Eurocurrency Loans, in
the same Agreed Currency and for the same Interest Period.  The term
"Advance" shall
include Swing Line Loans unless otherwise expressly provided.

     

    "Affiliate" of any
Person means any other Person directly or indirectly controlling, controlled by
or under common control with such Person.  A Person shall be deemed to
control another Person if the controlling Person owns 15% or more of any class
of voting securities (or other ownership interests) of the controlled Person or
possesses, directly or indirectly, the power to direct or cause the direction of
the management or policies of the controlled Person, whether through ownership
of stock, by contract or otherwise.

     

    "Agreed Currencies"
means (a) Dollars, (b) so long as such currencies remain Eligible Currencies,
British Pounds Sterling, Canadian Dollars, and, the Euro, and (c) any other
Eligible Currency which a Borrower requests the Administrative Agent to include
as an Agreed Currency hereunder and which is acceptable to all of the
Lenders.

     

    "Aggregate Commitment"
means the aggregate of the Commitments of all the Lenders (both Commitments (All
Borrowers) and the Commitment (EDC Permitted Borrowers)), as reduced or
increased from time to time pursuant to the terms hereof.

     

    "Aggregate Outstanding Credit
Exposure" means, at any time, the aggregate of the Outstanding Credit
Exposure of all the Lenders.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    "Agreement" means this
credit agreement, as it may be amended, restated, modified or supplemented and
in effect from time to time.

     

    "Agreement Accounting
Principles" means generally accepted accounting principles as in effect
from time to time, applied in a manner consistent with that used in preparing
the financial statements referred to in Section 5.4.

     

    "Alternate Base Rate"
means, for any day, a rate of interest per annum equal to the higher of (a) the
Prime Rate for such day and (b) the sum of the Federal Funds Effective Rate for
such day plus 1/2% per annum.

     

    "Anniversary Date"
means each annual anniversary of the Closing Date.

     

    "Applicable Fee Rate"
means, at any time, the percentage rate per annum at which Facility Fees or
usage fees are accruing at such time as set out in the attached Pricing
Schedule.

     

    "Applicable Margin"
means, with respect to Advances of any Type or Facility LC's of any Type, at any
time, the percentage rate per annum which is applicable at such time with
respect to Advances or Facility LC's of such Type as set out in the attached
Pricing
Schedule.

     

    "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.

     

    "Arranger" means J.P.
Morgan Securities Inc. and its successors, in its capacity as Lead Arranger and
Sole Book Runner.

     

    "Article" means an
article of this Agreement unless another document is specifically
referenced.

     

    "Asset Disposition"
means any sale, transfer, or other disposition of any asset of the Parent or any
Subsidiary in a single transaction or in a series of related transactions (other
than the sale of inventory in the ordinary course, the sale of obsolete or
excess machinery, equipment, or furniture in the ordinary course, and the sale
of accounts and notes receivable permitted by Section 6.14).

     

    "Attributable Debt"
means as at the time of determination (a) with respect to a Synthetic Lease, the
present value (discounted at the explicit or implicit interest rate applicable
to such Synthetic Lease at such time) of the total obligations of the lessee for
rental payments during the remaining term of such Synthetic Lease at such time
and (b) with respect to an accounts or notes receivable financing or
securitization program, the outstanding balance of amounts advanced in respect
of the receivables and notes under such program.

     

    "Authorized Officer"
means, with respect to any of the Borrowers, any of the chief executive officer,
president, chief financial officer, treasurer, assistant treasurer, or
controller, acting singly.

     

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    "Availability" is
defined in Section 7.2.

     

    "Available Aggregate
Commitment" means, at any time, the Aggregate Commitment then in effect
minus the Aggregate Outstanding Credit Exposure at such time.

     

    "Bank Guaranty" means
a guaranty executed by a LC Issuer with respect to obligations of a Borrower and
provided pursuant to this Agreement.

     

    "Borrower" means any
of the Parent and the Borrowing Subsidiaries and "Borrowers" means,
collectively, the Parent and the Borrowing Subsidiaries.

     

    "Borrowing Date" means
a date on which an Advance is made hereunder.

     

    "Borrowing Notice" is
defined in Section 2.9.

     

    "Borrowing Subsidiary"
means each of Cameron Limited, Cameron GmbH, Cameron (Singapore) Pte. Ltd.,
Cameron Canada Corporation, Cameron (Luxembourg) SARL and any other Subsidiary
of the Parent which has entered into a Joinder Agreement.

     

    "Business Day" means
any day that is not a Saturday, Sunday or any other day on which commercial
banks in New York City and Chicago are authorized or required by Law to remain
closed; provided that, when used in
connection with a Eurocurrency Loan or Loan denominated in an Agreed Currency,
the term "Business
Day" shall also exclude any day on which banks are not open for dealings
in Dollar deposits or Agreed Currencies in the principal financial center of the
country in which payment or purchase of such Agreed Currency can be made or on
which dealings in the relevant Agreed Currency are not carried on in the London
interbank market (and, if the Advance which is the subject of a borrowing,
drawing, payment, reimbursement or rate selection is denominated in Euros, the
term "Business
Day" shall also exclude any day that is not a TARGET day).

     

    "Canadian Administrative
Agent" means JPMorgan Chase Bank, N.A., Toronto Branch and its successors
in its capacity as sub-agent of the Administrative Agent with respect to Loans
and Facility LCs denominated in Canadian Dollars.

     

    "Canadian Borrower"
means any Borrowing Subsidiary which is incorporated under and operating in
Canada or one of its provinces.

     

    "Canadian Dollars"
means the lawful currency of Canada.

     

    "Canadian Prime Rate"
means, for any day, the greater of (a) the annual rate of interest
announced from time to time by the Canadian Administrative Agent as its
reference rate then in effect for determining interest rates on Canadian Dollar
denominated commercial loans in Canada and (b) the annual rate of interest
equal to the sum of (i) the CDOR Rate for 30 days and (ii) 0.50% per
annum.

     

    "Canadian Swing Line
Borrowing Notice" is defined in Section 2.5.1(b).

     

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    "Canadian Swing Line
Commitment" means the obligation of the Canadian Swing Line Lenders to
make, in the aggregate for all such Lenders, Canadian Swing Line Loans up to a
maximum principal amount of $15,000,000 at any one time
outstanding.

     

    "Canadian Swing Line
Lender" means JPMorgan Chase Bank, N.A., Toronto Branch, and each other
Lender which agrees at the request of the Parent to act as a Canadian Swing Line
Lender hereunder, or any other Lender which may succeed to their rights and
obligations as Canadian Swing Line Lender pursuant to the terms of this
Agreement, and "Canadian Swing Line
Lenders" means, collectively, all of such Canadian Swing Line
Lenders.  Each Canadian Swing Line Lender must be exempt from
withholding taxes imposed by Canada on interest payments made by the Parent or
any Canadian Borrower, but need not be located in Canada.

     

    "Canadian Swing Line
Loan" means a Loan made available to the Parent or any Canadian Borrower
by the Canadian Swing Line Lenders pursuant to Section 2.5.1.

     

    "Canadian Swing Line
Share" means, with respect to a Canadian Swing Line Lender, a portion
equal to a fraction the numerator of which is the Dollar Amount set out opposite
its signature below under the heading "Canadian Swing Line Loan
Commitment" (as it may be modified as a result of any assignment that has
become effective pursuant to Section 12.3.2
or as otherwise modified from time to time pursuant to the terms hereof) and the
denominator of which is Dollar Amount of the Canadian Swing Line
Commitment.

     

    "Capitalized Lease" of
a Person means any lease of Property by such Person as lessee which would be
capitalized on a balance sheet of such Person prepared in accordance with
Agreement Accounting Principles.

     

    "Capitalized Lease
Obligations" of a Person means the amount of the obligations of such
Person under Capitalized Leases which would be shown as a liability on a balance
sheet of such Person prepared in accordance with Agreement Accounting
Principles.

     

    "CDOR Rate" means, for
any date, the per annum rate of interest which is the rate based on the rate
applicable to Canadian Dollar bankers' acceptances for a term comparable to that
specified in the Borrowing Notice appearing on the "Reuters Screen CDOR
Page" on such date, or if such date is not a Business Day, then on the
immediately preceding Business Day, provided, however, that if no
such rate appears on the Reuters Screen CDOR Page as contemplated, then the CDOR
Rate on any date shall be calculated as the arithmetic mean of the rates for the
term and amount referred to above applicable to Canadian Dollar bankers'
acceptances quoted by the Canadian Administrative Agent, or such other banks as
may be appointed by the Canadian Administrative Agent in consultation with the
Parent, as of 10:00 a.m. (Toronto time), on such date or, if such date is not a
Business Day, then on the immediately preceding Business Day.

     

    "CERCLA" means the
Comprehensive Environmental Response, Compensation, and Liability Act of 1980,
as amended, and all rules and regulations and requirements thereunder in each
case as now or hereafter in effect.

     

    "Change in Control"
means the acquisition by any Person, or two or more Persons acting in concert,
of beneficial ownership (within the meaning of Rule 13d 3 of the Securities and
Exchange Commission under the Securities Exchange Act of 1934) of 50% or more of
the outstanding shares of voting stock of the Parent.

     

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    "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 LC Issuer (or, for
purposes of Section
3.2, by any Lending Installation of such Lender or by such Lender's or
the LC Issuer'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.

     

    "Closing Date" means
the date on or after the date of this Agreement on which all conditions
precedent set out in Section 4.1
hereof have been satisfied or waived by the party or parties entitled to
performance thereof.

     

    "Code" means the
Internal Revenue Code of 1986, as amended, reformed or otherwise modified from
time to time.

     

    "Collateral Shortfall
Amount" is defined in Section 8.1.

     

    "Commitment" means,
for each Lender other than EDC, its Commitment (All Borrowers) and, for EDC, its
Commitment (EDC Permitted Borrowers).

     

    "Commitment (All
Borrowers)" means, for each Lender other than EDC, the obligation of such
Lender to make Revolving Loans to the Borrowers, and participate in Facility LCs
issued upon the application of the Borrowers and the other Subsidiaries, in an
aggregate amount not exceeding the amount set out opposite its signature below,
as it may be modified as a result of any assignment that has become effective
pursuant to Section 12.3.2
or as otherwise modified from time to time pursuant to the terms
hereof.

     

    "Commitment (EDC Permitted
Borrowers)" means, for EDC, the obligation of such Lender to make
Revolving Loans to the EDC Permitted Borrowers, and participate in Facility LCs
issued upon the application of the EDC Permitted Borrowers and the other
Subsidiaries in an aggregate amount not exceeding the amount set out opposite
its signature below, as it may be modified as a result of any assignment that
has become effective pursuant to Section 12.3.2
or as otherwise modified from time to time pursuant to the terms
hereof.

     

    "Commitment Increase"
is defined in Section 2.27(a).

     

    "Commitment Maturity
Date" means, with respect to each Lender, April 14, 2013, as such date
may be extended from time to time pursuant to Section 2.28,
or, if earlier, the Facility Termination Date.

     

    "Compliance
Certificate" means a certificate substantially in the form of Exhibit
B.

     

    "Computation Date" is
defined in Section 2.2.

     

     

    
      
        -5-

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    "Consolidated EBITDA"
means (a) Consolidated Net Income for any applicable period plus, to the extent
deducted from revenues in determining Consolidated Net Income (a) Consolidated
Interest Expense for such period, (ii) expenses for income and franchise taxes
paid or accrued during such period, (iii) depreciation and amortization for such
period, (iv) non-recurring, non-cash charges for such period, and (iv)
extraordinary losses incurred during such period other than in the ordinary
course of business minus, to the extent included in Consolidated Net Income,
extraordinary gains realized in such period other than in the ordinary course of
business, all calculated for the Parent and its Subsidiaries on a consolidated
basis, and (b) includes, on a pro forma basis, Consolidated EBITDA of any Person
acquired in accordance with Section 6.12 for
the four fiscal quarters most recently ended prior to the date of such
acquisition, provided that the Consolidated
EBITDA of any such acquired Person may be included in the Consolidated EBITDA of
the Parent only if the Parent provides to the Administrative Agent, prior to or
simultaneously with the delivery of any Compliance Certificate including the
Consolidated EBITDA of such Person, financial statements of such Person for the
fiscal year of such Person most recently ended, audited by independent certified
public accountants reasonably acceptable to the Administrative Agent and
including, at a minimum, a balance sheet, income statement, and statement of
cash flows.

     

    "Consolidated
Indebtedness" means at any time the Indebtedness of the Parent and its
Subsidiaries calculated on a consolidated basis as of such time.

     

    "Consolidated Interest
Expense" means, with reference to any period, the interest expense,
whether paid or accrued, of the Parent and its Subsidiaries calculated on a
consolidated basis for such period as determined in accordance with Agreement
Accounting Principles.

     

    "Consolidated Net
Income" means, for any period, the net income (or loss) of the Parent and
its Subsidiaries calculated on a consolidated basis for such period in
accordance with Agreement Accounting Principles.

     

    "Consolidated Net
Worth" means at any time the consolidated stockholders' equity of the
Parent and its Subsidiaries calculated on a consolidated basis as of such time;
provided that any changes in
consolidated stockholders' equity as a result of (a) foreign currency
translation adjustments and (b) any change in the fair value of any Financial
Contract pursuant to Financial Accounting Standards Board Bulletin No 133, in
each case after the date hereof, shall be excluded when computing Consolidated
Net Worth.

     

    "Contingent
Obligation" of a Person means any agreement, undertaking or arrangement
by which such Person assumes, guarantees, endorses, contingently agrees to
purchase or provide funds for the payment of, or otherwise becomes or is
contingently liable upon, the obligation or liability of any other Person, or
agrees to maintain the net worth or working capital or other financial condition
of any other Person, or otherwise assures any creditor of such other Person
against loss, including, without limitation, any comfort letter, bank
guaranties, operating agreement, take or pay contract, a standby letter of
credit which supports a payment obligation, or the obligations of any such
Person as general partner of a partnership with respect to the liabilities of
the partnership, and specifically excluding commercial letters of credit,
standby letters of credit, and bank guaranties, in each case, which support
performance obligations.

     

     

    
      
        -6-

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    "Conversion/Continuation
Notice" is defined in Section 2.10.

     

    "Controlled Group"
means all members of a controlled group of corporations or other business
entities and all trades or businesses (whether or not incorporated) under common
control which, together with the Parent or any of its Subsidiaries, are treated
as a single employer under Section 414 of the Code.

     

    "Credit Extension"
means the making of an Advance or the issuance of a Facility LC
hereunder.

     

    "Credit Extension
Date" means the Borrowing Date for an Advance or the issuance date for a
Facility LC.

     

    "Default" means an
event described in Article VII.

     

    "Documentary Letter of
Credit" means a commercial letter of credit qualifying as a trade-related
contingency under 12 CFR Part 3, Appendix A, Section 3(b)(3) or any
successor U.S. Comptroller of the Currency regulation.

     

    "Dollar Amount" of any
currency at any date shall mean (a) the amount of such currency if such currency
is Dollars or (b) the equivalent in such currency of such amount of Dollars if
such currency is any currency other than Dollars, calculated on the basis of the
arithmetical mean of the buy and sell spot rates of exchange of the
Administrative Agent for such currency on the London market at 11:00 a.m.,
London time, on or as of the most recent Computation Date provided for in Section 2.2.

     

    "Dollars" and "$" means the lawful
currency of the United States of America.

     

    "EDC" means Export
Development Canada, a corporation established under the laws of
Canada.

     

    "EDC Permitted
Borrower" means the Parent and any Borrowing Subsidiary organized under
the laws of a jurisdiction other than Canada.

     

    "Eligible Currency"
means any currency other than Dollars (a) that is readily available, (b) that is
freely traded, (c) in which deposits are customarily offered to banks in the
London interbank market, (d) which is convertible into Dollars in the
international interbank market and (e) as to which an Equivalent Amount may be
readily calculated.  If, after the designation by the Lenders of any
currency as an Agreed Currency, (i) currency control or other exchange
regulations are imposed in the country in which such currency is issued with the
result that different types of such currency are introduced, (ii) such currency
is, in the determination of the Administrative Agent, no longer readily
available or freely traded or (iii) in the determination of the Administrative
Agent, an Equivalent Amount of such currency is not readily calculable, the
Administrative Agent shall promptly notify the Lenders and the Borrowers, and
such currency shall no longer be an Agreed Currency until such time as all of
the Lenders agree to reinstate such currency as an Agreed Currency and promptly,
but in any event within five Business Days of receipt of such notice from the
Administrative Agent, the Borrowers shall repay all Loans in such affected
currency or convert such Loans into Loans in Dollars or another Agreed Currency,
subject to the other terms set out in Article II.

     

     

    
      
        -7-

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    "Environmental Laws"
means any and all federal, state, local and foreign statutes, laws, judicial
decisions, regulations, ordinances, rules, judgments, orders, decrees, plans,
injunctions, permits, concessions, grants, franchises, licenses, agreements and
other governmental restrictions relating to (a) the protection of the
environment, (b) the effect of the environment on human health, (c) emissions,
discharges or releases of pollutants, contaminants, hazardous substances or
wastes into surface water, ground water or land, or (d) the manufacture,
processing, distribution, use, treatment, storage, disposal, transport or
handling of pollutants, contaminants, hazardous substances or wastes or the
clean-up or other remediation thereof.

     

    "Environmental
Liability" means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or
indemnities), of the Borrower 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.

     

    "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,
and any rule or regulation issued thereunder.

     

    "Euro" and/or "EUR" mean the lawful
currency of the Participating Member States introduced in accordance with the
EMU Legislation.  For purposes of this definition, "Participating Member
State" means each state so described in any EMU Legislation and "EMU Legislation"
means the legislative measures of the European Council for the introduction of,
changeover to or operation of a single or unified European
currency.

     

    "Eurocurrency" means
any Agreed Currency.

     

    "Eurocurrency Advance"
means an Advance which, except as otherwise provided in Section 2.12,
bears interest at the applicable Eurocurrency Rate.

     

    "Eurocurrency Loan"
means a Loan which, except as otherwise provided in Section 2.12,
bears interest at the applicable Eurocurrency Rate.

     

    "Eurocurrency Payment
Office" of the Administrative Agent shall mean, for each of the Agreed
Currencies, the office, branch, affiliate or correspondent bank of the
Administrative Agent specified as the "Eurocurrency Payment
Office" for such currency in Schedule 4 hereto or
such other office, branch, affiliate or correspondent bank of the Administrative
Agent as it may from time to time specify to the Borrowers and each Lender as
its Eurocurrency Payment Office.

     

     

    
      
        -8-

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    "Eurocurrency Rate"
means, with respect to a Eurocurrency Advance for the relevant Interest Period,
the sum of (a) the quotient of (i) the Eurocurrency Reference Rate applicable to
such Interest Period, divided by (ii) one minus the Reserve Requirement
(expressed as a decimal) applicable to such Interest Period, plus (b) the
Applicable Margin, plus (c) (in the case of a Eurocurrency Loan of any Lender
which is loaned from a Lending Installation in the United Kingdom or a
Participating Member State) the Mandatory Cost (if any).

     

    "Eurocurrency Reference
Rate" means, with respect to a Eurocurrency Advance for the relevant
Interest Period, the applicable British Bankers' Association Interest Settlement
Rate for deposits in the applicable Agreed Currency appearing on the appropriate
page of Reuters which displays such rate for such Agreed Currency as of 11:00
a.m. (London time) two Business Days prior to the first day of such Interest
Period, or, in the case of a Eurocurrency Advance denominated in British Pounds
Sterling, as of 11:00 a.m. (London time) on the first day of such Interest
Period, and having a maturity equal to such Interest Period, provided that, (a) if the
applicable page of Reuters for such Agreed Currency is not available to the
Administrative Agent, European Administrative Agent, or Canadian Administrative
Agent, as applicable, for any reason, the applicable Eurocurrency Reference Rate
for the relevant Interest Period shall instead be the applicable British
Bankers' Association Interest Settlement Rate for deposits in the Applicable
Agreed Currency as reported by any other generally recognized financial
information service as of 11:00 a.m. (London time) two Business Days prior to
the first day of such Interest Period, and having a maturity equal to such
Interest Period, or, in the case of a Eurocurrency Advance denominated in
British Pounds Sterling, as of 11:00 a.m. (London time) on the first day of such
Interest Period, and (b) if no such British Bankers' Association Interest
Settlement Rate is available, the applicable Eurocurrency Reference Rate for the
relevant Interest Period shall instead be the rate determined by the
Administrative Agent, European Administrative Agent, or Canadian Administrative
Agent, as applicable, to be the arithmetic average of the rates reported to the
Administrative Agent, European Administrative Agent, or Canadian Administrative
Agent as applicable, by each Reference Lender as the rate at which such
Reference Lender offers to place deposits in the applicable Agreed Currency with
first-class banks in the London interbank market at approximately 11:00 a.m.
(London time) two Business Days prior to the first day of such Interest Period,
or, in the case of a Eurocurrency Advance denominated in British Pounds
Sterling, as of 11:00 a.m. (London time) on the first day of such Interest
Period, in the approximate amount of such Reference Lender's relevant
Eurocurrency Loan and having a maturity equal to such Interest
Period.  If any Reference Lender fails to provide such quotation to
the Administrative Agent, European Administrative Agent, or Canadian
Administrative Agent, as applicable, then the Administrative Agent, European
Administrative Agent, or Canadian Administrative Agent, as applicable, shall
determine the Eurocurrency Reference Rate on the basis of the quotations of the
remaining Reference Lender(s).

     

    "European Administrative
Agent" means J.P. Morgan Europe Limited and its successors in its
capacity as sub-agent of the Administrative Agent with respect to Loans and
Facility LCs denominated in British Pounds Sterling, Euro, and other Agreed
Currencies to be agreed.

     

    "Excess Obligations"
is defined in Section 2.2(a).

     

     

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

    "Excluded Taxes"
means, in the case of each Lender or applicable Lending Installation and the
Administrative Agent, taxes imposed on its overall net income, and franchise
taxes imposed on it, by (a) the jurisdiction under the laws of which such Lender
or the Administrative Agent is incorporated or organized or (b) the jurisdiction
in which the Administrative Agent's or such Lender's principal executive office
or such Lender's applicable Lending Installation is located.

     

    "Exhibit" refers to an
exhibit to this Agreement, unless another document is specifically
referenced.

     

    "Existing Letters of
Credit" means, collectively, all letters of credit identified on Schedule
5 hereto and outstanding on the Closing Date.

     

    "Facility Fee" is
defined in Section 2.6.1.

     

    "Facility LC" is
defined in Section 2.26.1.

     

    "Facility LC
Application" is defined in Section 2.26.3.

     

    "Facility LC Collateral
Account" is defined in Section 2.26.11.

     

    "Facility Termination
Date" means April 14, 2013, as such date may be extended from time to
time pursuant to Section 2.28, or
any earlier date on which the Aggregate Commitment is reduced to zero or
otherwise terminated pursuant to the terms hereof.

     

    "Federal Funds Effective
Rate" means, for any day, an interest rate per annum equal to the
weighted average of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers on such
day, as published for such day (or, if such day is not a Business Day, for the
immediately preceding Business Day) by the Federal Reserve Bank of New York, or,
if such rate is not so published for any day which is a Business Day, the
average of the quotations at approximately 10:00 a.m. (Central time) on such day
on such transactions received by the Administrative Agent from three Federal
funds brokers of recognized standing selected by the Administrative Agent in its
sole discretion.

     

    "Fee Letter" means
that certain fee letter dated March 24, 2008, among Administrative Agent,
Arranger and the Parent, as amended from time to time.

     

    "Financial Contract"
of a Person means (a) any exchange-traded or over-the-counter futures, forward,
swap or option contract or other financial instrument with similar
characteristics, or (b) any Rate Management Transaction.

     

    "Financial Letter of
Credit" means a letter of credit other than a Performance Letter of
Credit or a Documentary Letter of Credit, and shall include without limitation
standby letters of credit issued to secure financial obligations.

     

    "Floating Rate" means,
for any day, a rate per annum equal to the Alternate Base Rate for such day, in
each case changing when and as the Alternate Base Rate changes.

     

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

    "Floating Rate
Advance" means an Advance which, except as otherwise provided in Section 2.12,
bears interest at the Floating Rate.

     

    "Floating Rate Loan"
means a Loan which, except as otherwise provided in Section 2.12,
bears interest at the Floating Rate.

     

    "Foreign Subsidiary"
means a Subsidiary not organized under the laws of the United States or any
state, possession, or territory thereof.

     

    "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 (including any
supranational bodies such as the European Union or European Central
Bank).

     

    "Guaranty" means that
certain Guaranty dated as of even date herewith, executed by the Parent in favor
of the Administrative Agent, for the ratable benefit of the Lenders in the form
of Exhibit G,
as it may be amended or modified and in effect from time to time.

     

    "Hazardous Materials"
means the substances identified as such pursuant to CERCLA and any chemicals,
substances, and wastes regulated under any other Environmental Law, including
without limitation pollutants, contaminants, petroleum or petroleum products
Released into the environment, radionuclides, radioactive materials, and medical
and infectious waste.

     

    "Increasing Lender" is
defined in Section 2.27(a).

     

    "Indebtedness" of a
Person means such Person's (a) obligations for borrowed money, (b) obligations
representing the deferred purchase price of Property or services (other than
accounts payable arising in the ordinary course of such Person's business
payable on terms customary in the trade), (c) obligations, whether or not
assumed, secured by Liens or payable out of the proceeds or production from
Property now or hereafter owned or acquired by such Person, (d) obligations
which are evidenced by notes, acceptances, or other instruments, (e) obligations
of such Person to purchase securities or other Property arising out of or in
connection with the sale of the same or substantially similar securities or
Property, (f) Capitalized Lease Obligations, (g) Contingent Obligations, (h)
reimbursement obligations of such Person in respect of letters of credit or
acceptance financing, (i) Off-Balance Sheet Liabilities, (j) any other
obligation for borrowed money which in accordance with Agreement Accounting
Principles would be shown as a liability on the consolidated balance sheet of
such Person.

     

    "Indemnified Taxes"
means Taxes other than Excluded Taxes.

     

    "Interest Period"
means, with respect to a Eurocurrency Advance, a period of one, two, three or
six months (or such other period as may be agreed by the Lenders with respect to
a particular Agreed Currency) commencing on a Business Day selected by the
applicable Borrower pursuant to this Agreement.  Such Interest Period
shall end on the day which corresponds numerically to such date one, two, three
or six months (or such other applicable period) thereafter, provided that if there is no
such numerically corresponding day in such next, second, third or sixth
succeeding month (or such other applicable period), such Interest Period shall
end on the last Business Day of such next, second, third or sixth succeeding
month (or such other applicable period).  If an Interest Period would
otherwise end on a day which is not a Business Day, such Interest Period shall
end on the next succeeding Business Day, provided that if said next
succeeding Business Day falls in a new calendar month, such Interest Period
shall end on the immediately preceding Business Day.

     

     

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

    "Joinder Agreement"
means an agreement substantially in the form of Exhibit F by which a
Subsidiary of the Parent becomes a Borrower Subsidiary.

     

    "JPMorgan" means
JPMorgan Chase Bank, N.A., in its individual capacity, and its
successors.

     

    "LC Fee" is defined in
Section 2.26.4.

     

    "LC Issuer" means
JPMorgan (or any Affiliate designated by JPMorgan) in its capacity as issuer of
Facility LCs hereunder and, at any Borrower's option, any Lender (or, in the
case of a Bank Guaranty, its applicable foreign Affiliate) who agrees to act in
the capacity as issuer of Facility LCs hereunder and "LC Issuers" means,
collectively, all of such LC Issuers.

     

    "LC Obligations"
means, at any time, the sum, without duplication, of (a) the aggregate undrawn
stated amount under all Facility LCs outstanding at such time plus (b) the
aggregate unpaid amount at such time of all Reimbursement
Obligations.

     

    "LC Payment Date" is
defined in Section 2.26.5.

     

    "LC Sublimit" means
$350,000,000 or, if less, the amount of the Aggregate Commitments.

     

    "Lenders" means the
lending institutions listed on the signature pages of this Agreement and their
respective successors and assigns.  Unless otherwise specified, the
term "Lenders"
includes the Swing Line Lenders.

     

    "Lending Installation"
means, with respect to a Lender or the Administrative Agent, the office, branch,
subsidiary or affiliate of such Lender or the Administrative Agent with respect
to each Agreed Currency listed on the Administrative Questionnaire or otherwise
selected by such Lender or the Administrative Agent pursuant to Section 2.20.

     

    "Lien" means any lien
(statutory or other), mortgage, pledge, hypothecation, assignment, deposit
arrangement, encumbrance or preference, priority or other security agreement or
preferential arrangement of any kind or nature whatsoever (including, without
limitation, the interest of a vendor or lessor under any conditional sale,
Capitalized Lease or other title retention agreement).

     

    "Loan" means a
Revolving Loan or Swing Line Loan.

     

    "Loan Documents" means
this Agreement, the Facility LC Applications, any Notes issued pursuant to Section 2.16,
the Guaranty, any Joinder Agreement and any other documents and agreements
contemplated hereby and executed by any Borrower with or in favor of the
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent or any Lender, as any such agreement, instrument or
document may be amended, modified or supplemented from
time-to-time.

     

    "Mandatory Cost"
means, with respect to any period, the percentage rate per annum determined in
accordance with Schedule 1.

     

     

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

    "Material Adverse
Effect" means a material adverse effect on (a) the business, Property,
condition (financial or otherwise), results of operations, or prospects of the
Parent and its Subsidiaries taken as a whole, (b) the ability of any Borrower to
perform its obligations under the Loan Documents to which it is a party, or (c)
the validity or enforceability of this Agreement, any Notes, the Guaranty, or
any of the other material Loan Documents or the rights or remedies of the
Administrative Agent, the applicable LC Issuer, or the Lenders
thereunder.

     

    "Material
Indebtedness" is defined in Section 7.5.

     

    "Material Subsidiary"
means any Subsidiary of the Parent, which Subsidiary holds or constitutes 10% or
more of either the consolidated assets or Consolidated EBITDA of the
Parent.

     

    "Modify" and "Modification" are
defined in Section 2.26.1.

     

    "Moody's" means
Moody's Investors Service, Inc., and any successor thereto which is a nationally
recognized statistical rating organization.

     

    "Multiemployer Plan"
means a Plan that is a multiemployer plan as defined in Section 4001(a)(3)
of ERISA.

     

    "Non-Extending Lender"
is defined in Section 2.28.

     

    "Non-U.S. Borrower" is
defined in Section 3.1(b).

     

    "Non-U.S. Lender" is
defined in Section 3.5(d).

     

    "Note" is defined in
Section 2.16.

     

    "Obligations" means
all unpaid principal of and accrued and unpaid interest on the Loans, all
Reimbursement Obligations, all accrued and unpaid fees and all expenses,
reimbursements, indemnities, obligations under any Rate Management Transaction
with any Lender in connection with Loans under this Agreement, and other
obligations of the Borrowers (or any Borrower) or any other Subsidiary to the
Lenders or to any Lender, any LC Issuer, the Administrative Agent, the European
Administrative Agent, the Canadian Administrative Agent or any indemnified party
arising under the Loan Documents, including without limitation any such
Obligations incurred or accrued during the pendency of any bankruptcy,
insolvency, receivership or other similar proceeding, whether or not allowed or
allowable in such proceeding.

     

    "Off-Balance Sheet
Liability" of a Person means (a) any repurchase obligation or liability
of such Person with respect to accounts or notes receivable sold by such Person,
(b) any liability under any Sale and Leaseback Transaction which is not a
Capitalized Lease, (c) any liability under any Synthetic Lease transaction
entered into by such Person, or (d) any obligation arising with respect to any
other transaction which is the functional equivalent of or takes the place of
borrowing but which does not constitute a liability on the balance sheets of
such Person, but excluding from this clause (d) Operating Leases.

     

     

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

     

    "Offered Rate" means a
per annum rate of interest offered by the US Swing Line Lender or the Canadian
Swing Line Lender, as applicable, pursuant to Section 2.5.1(b)
or Section 2.5.2(b)
for a period comparable to the Interest Period requested for such Swing Line
Loan and, with respect to any UK Swing Line Loan, the percentage rate per annum
which is the sum of (i) the arithmetic mean of the rates (rounded upwards
to four decimal places) as supplied to the European Administrative Agent at its
request quoted by the principal London offices of JPMorgan Chase Bank, N.A., or
such other banks as may be appointed by the European Administrative Agent in
consultation with the Parent, to leading banks in the London interbank market as
of 11:00 a.m. (London time) on the requested Borrowing Date for such Swing Line
Loan for the offering of deposits in Euro or British Pounds Sterling or Dollars
for a period comparable to the Interest Period requested for such Swing Line
Loan and for settlement on that day; and (ii) the Applicable Margin for
Eurocurrency Loans; and (iii) Mandatory Cost (if any).

     

    "Offered Rate Advance"
means a Swing Line Loan which bears interest at the Offered Rate.

     

    "Original Currency" is
defined in Section 2.14(b).

     

    "Operating Lease" of a
Person means any lease of Property (other than a Capitalized Lease) by such
Person as lessee which has an original term (including any required renewals and
any renewals effective at the option of the lessor) of one year or
more.

     

    "Other Taxes" is
defined in Section 3.5(b).

     

    "Outstanding Credit
Exposure" means, as to any Lender at any time, the sum of (a) the
aggregate principal amount of its Loans outstanding at such time, plus (b) an
amount equal to its Pro Rata Share of the aggregate principal amount of Swing
Line Loans outstanding at such time, plus (c) an amount equal to its Pro Rata
Share of the LC Obligations (other than LC Obligations with respect to Bank
Guaranties) at such time.

     

    "Parent" means Cameron
International Corporation and its successors and assigns.

     

    "Participants" is
defined in Section 12.1(c).

     

    "Payment Date" means
the last day of each March, June, September and December.

     

    "PBGC" means the
Pension Benefit Guaranty Corporation, or any successor thereto.

     

    "Performance Letter of
Credit" means a letter of credit qualifying as a "performance-based
standby letter of credit" under 12 CFR Part 3, Appendix A,
Section 3(b)(2)(i) or any successor U.S. Comptroller of the Currency
regulation.

     

     

    
      
        
        

      

      
        -14-

        
          

        

      

      
        
        

      

    

     

    "Person" means any
natural person, corporation, firm, joint venture, partnership, limited liability
company, association, enterprise, trust or other entity or organization, or any
government or political subdivision or any agency, department or instrumentality
thereof.

     

    "Plan" means an
employee pension benefit plan which is covered by Title IV of ERISA or subject
to the minimum funding standards under Section 412 of the Code as to which
the Parent or any member of the Controlled Group may have any
liability.

     

    "Pricing Schedule"
means the Schedule attached hereto identified as such.

     

    "Prime Rate" means the
rate of interest per annum publicly announced from time to time by JPMorgan
Chase Bank as its prime rate in effect at its office located at 270 Park Avenue,
New York, New York; each change in the Prime Rate shall be effective from and
including the date such change is publicly announced as being
effective.

     

    "Property" of a Person
means any and all property, whether real, personal, tangible, intangible, or
mixed, of such Person, or other assets owned, leased or operated by such
Person.

     

    "Pro Rata Share"
means, with respect to a Lender, a portion equal to a fraction the numerator of
which is such Lender's Commitment (All Borrowers) or Commitment (EDC Permitted
Borrowers), as applicable, and the denominator of which is the Aggregate
Commitment.  In the case of any determination of a Lender's Pro Rata
Share with respect to any Loan, Swing Line Loan or LC Obligations made to, for
the account of, or owing by any Borrowing Subsidiary that is not an EDC
Permitted Borrower, or any participations in any of the foregoing, or any
interest or fees payable with respect to any of the foregoing, EDC's Pro Rata
Share shall be zero.

     

    "Protesting Lender" is
defined in Section 2.24.

     

    "Rate Management
Transaction" means any transaction (including an agreement with respect
thereto) now existing or hereafter entered into by the Parent or any of its
Subsidiaries which is a rate swap, basis swap, forward rate transaction,
commodity swap, commodity option, equity or equity index swap, equity or equity
index option, bond option, interest rate option, foreign exchange transaction,
cap transaction, floor transaction, collar transaction, forward transaction,
currency swap transaction, cross-currency rate swap transaction, currency option
or any other similar transaction (including any option with respect to any of
these transactions) or any combination thereof, whether linked to one or more
interest rates, foreign currencies, commodity prices, equity prices or other
financial measures.

     

    "Reference Lenders"
means The Royal
Bank of Scotland plc, The Bank of Toyko-Mitsubishi UFJ, Ltd., and DnB NOR Bank
ASA.

     

    "Regulation D" means
Regulation D of the Board of Governors of the Federal Reserve System as from
time to time in effect and any successor thereto or other regulation or official
interpretation of said Board of Governors relating to reserve requirements
applicable to member banks of the Federal Reserve System.

     

     

    
      
        
        

      

      
        -15-

        
          

        

      

      
        
        

      

    

     

    "Regulation U" means
Regulation U of the Board of Governors of the Federal Reserve System as from
time to time in effect and any successor or other regulation or official
interpretation of said Board of Governors relating to the extension of credit by
banks for the purpose of purchasing or carrying margin stocks applicable to
member banks of the Federal Reserve System.

     

    "Reimbursement
Obligations" means, at any time, the aggregate of all obligations of the
Borrowers then outstanding under Section 2.26 to
reimburse the LC Issuers for amounts paid by any LC Issuer in respect of any one
or more drawings under Facility LCs.

     

    "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.

     

    "Release" shall have
the meaning set forth in CERCLA or under any other Environmental
Law.

     

    "Reportable Event"
means a reportable event as defined in Section 4043 of ERISA and the
regulations issued under such section, with respect to a Plan, excluding,
however, such events as to which the PBGC has by regulation waived the
requirement of Section 4043(a) of ERISA that it be notified within 30 days
of the occurrence of such event, provided that a
failure to meet the minimum funding standard of Section 412 of the Code and
of Section 302 of ERISA shall be a Reportable Event regardless of the
issuance of any such waiver of the notice requirement in accordance with either
Section 4043(a) of ERISA or Section 412(d) of the Code.

     

    "Required Lenders"
means Lenders in the aggregate having at least 51% of the Aggregate Commitment
or, if the Aggregate Commitment has been terminated, Lenders in the aggregate
holding at least 51% of the Aggregate Outstanding Credit Exposure.

     

    "Reserve Requirement"
means, with respect to an Interest Period, the maximum aggregate reserve
requirement (including all basic, supplemental, marginal and other reserves)
which is imposed under Regulation D on Eurocurrency liabilities.

     

    "Revolving Loan"
means, with respect to a Lender, such Lender's loan made pursuant to its
commitment to lend set out in Section 2.1 (or
any conversion or continuation thereof).

     

    "S&P" means
Standard and Poor's Ratings Services, a division of The McGraw Hill Companies,
Inc., and any successor thereto which is a nationally recognized statistical
rating organization.

     

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

     

    "Schedule" refers to a
specific schedule to this Agreement, unless another document is specifically
referenced.

     

    "Section" means a
numbered section of this Agreement, unless another document is specifically
referenced.

     

     

    
      
        
        

      

      
        -16-

        
          

        

      

      
        
        

      

    

     

    "Singapore Borrower"
means any Borrowing Subsidiary which is incorporated under and operating in
Singapore.

     

    "Singapore Swing Line
Borrowing Notice" is defined in Section 2.5.4(b).

     

    "Singapore Swing Line
Commitment" means the obligation of the Singapore Swing Line Lenders to
make, in the aggregate for all such Lenders, Singapore Swing Line Loans up to a
maximum principal amount of $25,000,000 at any one time
outstanding.

     

    "Singapore Swing Line
Lender" means JPMorgan Chase Bank, N.A., Singapore Branch and each other
Lender which agrees at the request of the Parent to act as a Singapore Swing
Line Lender hereunder, or any other Lender which may succeed to their rights and
obligations as Singapore Swing Line Lender pursuant to the terms of this
Agreement, and "Singapore Swing Line
Lenders" means, collectively, all of such Singapore Swing Line
Lenders.  Each Singapore Swing Line Lender must be exempt from
withholding taxes imposed by Singapore on interest payments made by any
Singapore Borrower, but need not be located in Singapore.

     

    "Singapore Swing Line
Loan" means a Loan made available to any Singapore Borrower by the
Singapore Swing Line Lenders pursuant to Section 2.5.4.

     

    "Singapore Swing Line
Share" means, with respect to a Singapore Swing Line Lender, a portion
equal to a fraction the numerator of which is the Dollar Amount set out opposite
its signature below under the heading "Singapore Swing Line Loan
Commitment" (as it may be modified as a result of any assignment that has
become effective pursuant to Section 12.3.2
or as otherwise modified from time to time pursuant to the terms hereof) and the
denominator of which is Dollar Amount of the Singapore Swing Line
Commitment.

     

    "Single Employer Plan"
means a Plan, other than a Multiemployer Plan, maintained by the Parent or any
member of the Controlled Group for employees of the Parent or any member of the
Controlled Group.

     

    "Subsidiary" of a
Person means (a) any corporation more than 50% of the outstanding securities
having ordinary voting power of which shall at the time be owned or controlled,
directly or indirectly, by such Person or by one or more of its Subsidiaries or
by such Person and one or more of its Subsidiaries, or (b) any partnership,
limited liability company, association, joint venture or similar business
organization more than 50% of the ownership interests having ordinary voting
power of which shall at the time be so owned or controlled.  Unless
otherwise expressly provided, all references herein to a "Subsidiary" shall
mean a Subsidiary of the Parent.

     

    "Substantial Portion"
means, with respect to the Property of the Parent and its Subsidiaries, Property
which represents more than the greater of (a) $300,000,000 and (b) 20% of the
consolidated assets of the Parent and its Subsidiaries as would be shown in the
consolidated financial statements of the Parent and its Subsidiaries as at the
beginning of the quarter ending with the month in which such determination is
made.

     

    "Swing Line
Commitments" means the Canadian Swing Line Commitment, the UK Swing Line
Commitment, the Singapore Swing Line Commitment and the US Swing Line
Commitment.

     

     

    
      
        
        

      

      
        -17-

        
          

        

      

      
        
        

      

    

     

    "Swing Line Lenders"
means the Canadian Swing Line Lenders, the UK Swing Line Lenders, the Singapore
Swing Line Lenders and the US Swing Line Lender.

     

    "Swing Line Loans"
means the Canadian Swing Line Loans, the UK Swing Line Loans, the Singapore
Swing Line Loans and the US Swing Line Loans.

     

    "Synthetic Lease"
means (a) any lease that is treated as an Operating Lease under Agreement
Accounting Principles but for which the Parent or any of the Subsidiaries is
viewed as the owner of the leased Property under the Code and (b) guaranties by
the Parent or any of the Subsidiaries of the obligations of the lessor of such
leased Property which are secured by the payments due under the lease of such
Property.

     

    "TARGET Day" means any
day on which the Trans-European Automatic Real-time Gross Settlement Express
Transfer payment system is open for the settlement of payments in
Euros.

     

    "Taxes" means any and
all present or future taxes, duties, levies, imposts, deductions, charges or
withholdings, and any and all liabilities with respect to the
foregoing.

     

    "Terminating Plan"
means the Cameron International Corporation Retirement Plan.

     

    "Termination Event"
means, with respect to a Plan which is subject to Title IV of ERISA, (a) a
Reportable Event, (b) the withdrawal of the Parent or any other member of a
Controlled Group from such Plan during a plan year in which the Parent or any
other member of a Controlled Group was a "substantial employer" as defined in
Section 4001(a)(2) of ERISA or was deemed such under Section 4068(f)
of ERISA, (c) the termination of such Plan, the filing of a notice of intent to
terminate such Plan or the treatment of an amendment of such Plan as a
termination under Section 4041 of ERISA, (d) the institution by the PBGC of
proceedings to terminate such Plan, or (e) any event or condition which might
constitute grounds under Section 4042 of ERISA for the termination of, or
appointment of a trustee to administer, such Plan.

     

    "Transactions" means
the execution, delivery and performance by the Borrower of this Agreement, the
borrowing of Loans, the use of the proceeds thereof and the issuance of Facility
LCs hereunder.

     

    "Total Capitalization"
means, at any time, the sum of Total Debt and Consolidated Net Worth at such
time.

     

    "Total Debt" means, at
any time, that part of the Consolidated Indebtedness of the Parent and the
Subsidiaries at such time which would be reflected on a balance sheet prepared
in accordance with Agreement Accounting Principles.

     

    "Transferee" is
defined in Section 12.2.

     

    
      
        
        

      

      
        -18-

        
          

        

      

      
        
        

      

    

     

    "Type" means, with
respect to any Advance, its nature as a Floating Rate Advance or a Eurocurrency
Advance, and with respect to any Facility LC, its nature as a Financial Letter
of Credit, Performance Letter of Credit, Documentary Letter of Credit or Bank
Guaranty.

     

    "UK Borrower" means
any Borrowing Subsidiary which is a Non-US Borrower.

     

    "UK Swing Line Borrowing
Notice" is defined in Section
2.5.3(b).

     

    "UK Swing Line
Commitment" means the obligation of the UK Swing Line Lenders to make, in
the aggregate for all such Lenders, UK Swing Line Loans up to a maximum
principal amount of $35,000,000 at any one time outstanding.

     

    "UK Swing Line Lender"
means J.P. Morgan Europe Limited, and each other Lender which agrees at the
request of the Parent to act as a UK Swing Line Lender hereunder, or any other
Lender which may succeed to their rights and obligations as UK Swing Line Lender
pursuant to the terms of this Agreement, and "UK Swing Line
Lenders" means, collectively, all of such UK Swing Line
Lenders.  Each UK Swing Line Lender must be exempt from withholding
taxes imposed by the countries comprising the United Kingdom on interest
payments made by the Parent or any UK Borrower that is incorporated under and
operating in the United Kingdom, but need not be located in the United
Kingdom.

     

    "UK Swing Line Loan"
means a Loan made available to the Parent or any UK Borrower by the UK Swing
Line Lenders pursuant to Section
2.5.3.

     

    "UK Swing Line Share"
means, with respect to a UK Swing Line Lender, a portion equal to a fraction the
numerator of which is the Dollar Amount set out opposite its signature below
under the heading "UK
Swing Line Loan Commitment" (as it may be modified as a result of any
assignment that has become effective pursuant to Section 12.1 or as
otherwise modified from time to time pursuant to the terms hereof) and the
denominator of which is Dollar Amount of the UK Swing Line
Commitment.

     

    "US Swing Line Borrowing
Notice" is defined in Section 2.5.2(b).

     

    "US Swing Line
Commitment" means the obligation of the US Swing Line Lender to make US
Swing Line Loans up to a maximum principal amount of $25,000,000 at any one time
outstanding.

     

    "US Swing Line Lender"
means JPMorgan or any other Lender which may succeed to its rights and
obligations as US Swing Line Lender pursuant to the terms of this
Agreement.

     

    "US Swing Line Loan"
means a Loan made available to a Borrower by the US Swing Line Lender pursuant
to Section 2.5.2.

     

    "USA Patriot Act" is
defined in Section 9.14.

     

    "Unfunded Liabilities"
means the amount (if any) by which the actuarial present value of the benefit
attributed by the pension benefit formula under all Single Employer Plans to
employee service rendered prior to that date (based on current and past
compensation levels) exceeds the fair value of all Plan assets, all determined
as of the last day of the Borrowers' fiscal year using a calculation
methodology, discount rate, expected return on Plan assets, rate of compensation
increase, and other gain or loss components required or permitted under
Statement of Financial Accounting Standards No. 87 in presenting the projected
benefit obligation.

     

     

     

    
      
        
        

      

      
        -19-

        
          

        

      

      
        
        

      

    

    "Unmatured Default"
means an event which but for the lapse of time or the giving of notice, or both,
would constitute a Default.

     

    "Wholly Owned
Subsidiary" of a Person means (a) any Subsidiary all of the outstanding
voting securities of which shall at the time be owned or controlled, directly or
indirectly, by such Person or one or more Wholly Owned Subsidiaries of such
Person, or by such Person and one or more Wholly Owned Subsidiaries of such
Person, or (b) any partnership, limited liability company, association, joint
venture or similar business organization 100% of the ownership interests having
ordinary voting power of which shall at the time be so owned or
controlled.

     

    The
foregoing definitions shall be equally applicable to both the singular and
plural forms of the defined terms.

     

    ARTICLE
II 

    THE
CREDITS

     

    2.1 Commitment.  From
and including the date of this Agreement and prior to its respective Commitment
Maturity Date, each Lender severally agrees, on the terms and conditions set out
in this Agreement, to (a) make Revolving Loans to any Borrower (or, in the case
of EDC, any EDC Permitted Borrower) in Agreed Currencies upon the request of any
Borrower from time to time and (b) participate in Facility LCs issued upon the
request of any Borrower (or, in the case of EDC, any EDC Permitted Borrower) or
any Subsidiary, provided that, after
giving effect to the making of each such Revolving Loan and the issuance of each
such Facility LC, such Lender's Dollar Amount of its Outstanding Credit Exposure
shall not exceed its Commitment, provided that (i) at
no time shall Revolving Loans be outstanding hereunder in more than three
different Agreed Currencies, (ii) at no time shall the Dollar Amount of
Revolving Loans made in Agreed Currencies other than Dollars exceed $585,000,000
and (iii) all Floating Rate Loans shall be made in Dollars.  Subject
to the terms of this Agreement, the Borrowers may borrow, repay and reborrow the
Revolving Loans at any time prior to the Facility Termination
Date.  Each Lender's Commitment to extend credit hereunder shall
expire on its respective Commitment Maturity Date.  The LC Issuers
will issue Facility LCs hereunder on the terms and conditions set out in Section 2.26.

     

    2.2 Determination of Dollar
Amounts; Required Payments; Termination.  

     

    (a) The
Administrative Agent will determine the Dollar Amount of

     

    (i) each
Advance as of the date three Business Days prior to the Borrowing Date or, if
applicable, date of conversion/continuation of such Advance,

     

    (ii) all
outstanding Advances on and as of the last Business Day of each quarter and on
any other Business Day elected by the Administrative Agent in its discretion or
upon instruction by the Required Lenders,

     

    (iii) the face
amount of or any drawing under each Facility LC on and as of the date three
Business Days prior to the proposed date of issuance (or Modification) or
drawing, and

     

    (iv) the LC
Obligations with respect to all outstanding Facility LCs on and as of the last
Business Day of each quarter and on any other Business Day elected by the
Administrative Agent in its discretion or upon instruction by the Required
Lenders.

     

     

    
      
        
        

      

      
        -20-

        
          

        

      

      
        
        

      

    

    Each day
upon or as of which the Administrative Agent determines Dollar Amounts as
described in the preceding clauses (i), (ii), (iii), and (iv) is herein
described as a "Computation Date"
with respect to each Advance or Facility LC for which a Dollar Amount is
determined on or as of such day.  If at any time the Dollar Amount of
the sum of (y) the aggregate principal amount of all outstanding Advances
(calculated, with respect to those Advances denominated in Agreed Currencies
other than Dollars, as of the most recent Computation Date with respect to each
such Advance) plus (z) the aggregate amount of all outstanding LC Obligations
other than Bank Guaranties (calculated, with respect to those Facility LCs
denominated in Agreed Currencies other than Dollars, as of the most recent
Computation Date with respect to each such Facility LC) exceeds the Aggregate
Commitment (the amount of such excess, the "Excess Obligations"),
the Borrowers shall immediately repay Advances in an aggregate principal amount
sufficient to eliminate any such Excess Obligations.  If no Advances
are then outstanding or if any Excess Obligations remain outstanding upon
repayment of all outstanding Advances, and provided that the
Excess Obligations exceed $500, the Borrowers shall immediately make deposits to
the Facility LC Collateral Account at the Administrative Agent's election either
(i) in the applicable Agreed Currency or Currencies as determined by the
Administrative Agent and in an amount equal to the amount of such Excess
Obligations or (ii) in Dollars in an amount equal to 110% of the Dollar Amount
(calculated as of the applicable Computation Date) of such Excess
Obligations.  If as of any Computation Date the amount of any such
cash collateral held by the Administrative Agent on such date exceeds the amount
required to be deposited by the Borrowers pursuant to preceding sentence by
greater than $500, the Administrative Agent shall promptly release cash
collateral to the Borrowers in the amount of such excess to the extent such cash
collateral is not otherwise required under the terms of this
Agreement.

     

    (b) Except as
otherwise specifically provided in Section 2.26
with respect to Facility LCs (i) the Outstanding Credit Exposure to each
Non-Extending Lender, and all other unpaid Obligations owing to each such
Lender, shall be paid in full by the Borrowers on such Non-Extending Lender's
Commitment Maturity Date and (ii) the Aggregate Outstanding Credit Exposure and
all other unpaid Obligations shall be paid in full by the Borrowers on the
Facility Termination Date.

     

    2.3 Ratable
Loans.  Each Advance hereunder (other than any Swing Line Loan)
shall consist of Revolving Loans made from the several Lenders ratably according
to their Pro Rata Shares.

     

    2.4 Types of
Advances.  The Advances may be (a) Floating Rate Advances or
Eurocurrency Advances, or a combination thereof, selected by the applicable
Borrower in accordance with Sections 2.9 and
2.10, (b)
Canadian Swing Line Loans selected by the Parent or the applicable Canadian
Borrower in accordance with Section 2.5.1,
(c) US Swing Line Loans selected by the applicable Borrower in accordance with
Section 2.5.2,
(d) UK Swing Line Loans selected by the applicable Borrower in accordance with
Section 2.5.3 or
(e) Singapore Swing Line Loans selected by the applicable Borrower in accordance
with Section 2.5.4.

     

     

    
      
        
        

      

      
        -21-

        
          

        

      

      
        
        

      

    

    2.5 Swing Line
Loans.  

     

    2.5.1 Canadian Swing Line
Loans.  

     

    (a) Upon the
satisfaction of the conditions precedent set out in Section 4.2 and,
if such Canadian Swing Line Loan is to be made on the date of the initial
Advance hereunder, the satisfaction of the conditions precedent set out in Section 4.1 as
well, from and including the date of this Agreement and prior to its respective
Commitment Maturity Date, each Canadian Swing Line Lender agrees, on the terms
and conditions set out in this Agreement, to make Canadian Swing Line Loans in
Dollars or Canadian Dollars to the Parent or any Canadian Borrower from time to
time in an aggregate principal Dollar Amount not to exceed, for all such
Borrowers, the Canadian Swing Line Commitment, provided that (i) the
Aggregate Outstanding Credit Exposure shall not at any time exceed the Aggregate
Commitment, and (ii) at no time shall such Canadian Swing Line Lender's
Outstanding Credit Exposure exceed the Dollar Amount of such Canadian Swing Line
Lender's Commitment at such time.  Canadian Swing Line Loans may bear
interest at either the Offered Rate or, in the case of Loans denominated in
Canadian Dollars, the Canadian Prime Rate.  Subject to the terms of
this Agreement, the Parent and the Canadian Borrowers may borrow, repay and
reborrow Canadian Swing Line Loans at any time prior to the applicable
Commitment Maturity Date.

     

    (b) The
Parent or the applicable Canadian Borrower shall deliver to the Canadian
Administrative Agent and the Canadian Swing Line Lenders irrevocable written
notice (a "Canadian
Swing Line Borrowing Notice") not later than 11:00 a.m. (Toronto time) on
the Borrowing Date of each Canadian Swing Line Loan, specifying (i) the
applicable Borrowing Date (which date shall be a Business Day), (ii) the
aggregate amount of the requested Canadian Swing Line Loan which shall be an
amount not less than $100,000, (iii) whether such Canadian Swing Line Loan shall
be denominated in Dollars or Canadian Dollars, (iv) whether such Canadian
Swing Line Loan shall bear interest at the Canadian Prime Rate or at the rate
offered by the Canadian Swing Line Lender, upon request by the applicable
Borrower, for Canadian Swing Line Loans for the applicable Interest Period, (v)
in the case of a Canadian Swing Line Loan bearing interest at the Offered Rate,
the Interest Period requested therefor, and (vi) the applicable Canadian
Borrower.

     

    (c) Promptly
after receipt of a Canadian Swing Line Borrowing Notice, the Canadian
Administrative Agent shall notify each Canadian Swing Line Lender by fax, or
other similar form of transmission, of the requested Canadian Swing Line
Loan.  Not later than 2:00 p.m. (Toronto time) on the applicable
Borrowing Date, each Canadian Swing Line Lender shall make available its
Canadian Swing Line Share of the Canadian Swing Line Loan, in funds immediately
available in Toronto, to the Canadian Administrative Agent at its address
specified pursuant to Article XIII.  The
Canadian Administrative Agent will promptly make the funds so received from the
Canadian Swing Line Lenders available to the Parent or the applicable Canadian
Borrower on the Borrowing Date at the Canadian Administrative Agent's aforesaid
address.

     

     

    
      
        
        

      

      
        -22-

        
          

        

      

      
        
        

      

    

    (d) Repayment
of Canadian Swing Line Loans:

     

    (i) Upon the
occurrence of a Default, any Canadian Swing Line Lender may, upon notice to the
Canadian Administrative Agent and the Administrative Agent, require each Lender
(including such Canadian Swing Line Lender or its applicable Affiliate) to make
a Revolving Loan in the amount of such Lender's Pro Rata Share of such Canadian
Swing Line Loan (including, without limitation, any interest accrued and unpaid
thereon), for the purpose of repaying such Canadian Swing Line
Loan.  Not later than noon (Toronto time) on the third Business Day
following the date of any notice received pursuant to this Section 2.5.1,
each Lender shall make available its required Revolving Loan, in funds
immediately available in Toronto to the Canadian Administrative Agent at its
address specified pursuant to Article XIII.  Revolving
Loans made pursuant to this Section 2.5.1
shall be made in the currency in which the Canadian Swing Line Loan to be repaid
is denominated, and shall be Eurocurrency Loans.  Unless a Lender
shall have notified such Canadian Swing Line Lender, prior to its making any
Canadian Swing Line Loan, that any applicable condition precedent set out in
Sections 4.1 or
4.2 had not
then been satisfied, such Lender's obligation to make Revolving Loans pursuant
to this Section 2.5.1 to
repay Canadian Swing Line Loans shall be unconditional, continuing, irrevocable
and absolute and shall not be affected by any circumstances, including, without
limitation, (A) any set-off, counterclaim, recoupment, defense or other right
which such Lender may have against the Canadian Administrative Agent, the
Administrative Agent, any Canadian Swing Line Lender or any other Person, (B)
the occurrence or continuance of a Default or Unmatured Default, (C) any adverse
change in the condition (financial or otherwise) of the Parent or the applicable
Canadian Borrower, or (D) any other circumstances, happening or event
whatsoever.  In the event that any Lender fails to make payment to the
Canadian Administrative Agent of any amount due under this Section 2.5.1,
the Canadian Administrative Agent and the Administrative Agent shall be entitled
to receive, retain and apply against such obligation the principal and interest
otherwise payable to such Lender hereunder until the Canadian Administrative
Agent receives such payment from such Lender or such obligation is otherwise
fully satisfied.  In addition to the foregoing, if for any reason any
Lender fails to make payment to the Canadian Administrative Agent of any amount
due under this Section 2.5.1,
such Lender shall be deemed, at the option of the Canadian Administrative Agent,
to have unconditionally and irrevocably purchased from such Canadian Swing Line
Lender, without recourse or warranty, an undivided interest and participation in
the applicable Canadian Swing Line Loan in the amount of such Revolving Loan,
and such interest and participation may be recovered from such Lender together
with interest thereon at the Federal Funds Effective Rate or, in the case of an
amount payable in a currency other than Dollars, the applicable rate determined
by the Canadian Administrative Agent in its discretion as the appropriate rate
for interbank settlements, in each case, for each day during the period
commencing on the date of demand and ending on the date such amount is
received.

     

     

     

    
      
        
        

      

      
        -23-

        
          

        

      

      
        
        

      

    

    (ii) All
Canadian Swing Line Loans shall mature, and the principal amount thereof shall
be due and payable, on the last day of the Interest Period therefor (subject to
Section 2.10(b))
and on the applicable Commitment Maturity Date.  Interest accrued on
Canadian Swing Line Loans shall be due and payable on the last day of the
Interest Period therefor, in the case of Loans bearing interest at the Offered
Rate, on each Payment Date, in the case of Loans bearing interest at the
Canadian Prime Rate, on any date on which such Canadian Swing Line Loans are
prepaid, whether due to acceleration or otherwise, and on the applicable
Commitment Maturity Date.

     

    2.5.2 US Swing Line
Loans.

     

    (a) Upon the
satisfaction of the conditions precedent set out in Section 4.2 and,
if such US Swing Line Loan is to be made on the date of the initial Advance
hereunder, the satisfaction of the conditions precedent set out in Section 4.1 as
well, from and including the date of this Agreement and prior to its respective
Commitment Maturity Date, the US Swing Line Lender agrees, on the terms and
conditions set out in this Agreement, to make US Swing Line Loans in Dollars to
any Borrower from time to time in an aggregate principal amount not to exceed
the US Swing Line Commitment, provided that the
Aggregate Outstanding Credit Exposure shall not at any time exceed the Aggregate
Commitment.  US Swing Line Loans may bear interest at either the
Offered Rate or the Floating Rate.  Subject to the terms of this
Agreement, the Borrowers may borrow, repay and reborrow US Swing Line Loans at
any time prior to the applicable Commitment Maturity Date.

     

    (b) The
applicable Borrower shall deliver to the Administrative Agent and the US Swing
Line Lender irrevocable notice (a "US Swing Line Borrowing
Notice") not later than noon (Central time) on the Borrowing Date of each
US Swing Line Loan specifying (a) the applicable Borrowing Date (which date
shall be a Business Day), (ii) the aggregate amount of the requested US Swing
Line Loan which shall be an amount not less than $1,000,000 and in integral
multiples of $100,000 in excess thereof, (iii) whether such US Swing Line Loan
shall bear interest at the Floating Rate or at the rate offered by the US Swing
Line Lender, upon request by the applicable Borrower, for US Swing Line Loans
for the applicable Interest Period, and (iv) in the case of a US Swing Line Loan
bearing interest at the Offered Rate, the Interest Period requested
therefor.

     

     

     

    
      
        
        

      

      
        -24-

        
          

        

      

      
        
        

      

    

    (c) Promptly
after receipt of a US Swing Line Borrowing Notice, the Administrative Agent
shall notify the US Swing Line Lender by fax, or other similar form of
transmission, of the requested US Swing Line Loan.  Not later than
2:00 p.m. (Central time) on the applicable Borrowing Date, the US Swing Line
Lender shall make available the US Swing Line Loan, in funds immediately
available in Chicago, to the Administrative Agent at its address specified
pursuant to Article XIII.  The
Administrative Agent will promptly make the funds so received from the US Swing
Line Lender available to the applicable Borrower on the Borrowing Date at the
Administrative Agent's aforesaid address.

     

    (d) Repayment
of US Swing Line Loans:

     

    (i) Each US
Swing Line Loan shall be paid in full by the applicable Borrower on or before
the seventh day after the Borrowing Date for such US Swing Line
Loan.  In addition, US Swing Line Lender (A) may at any time in its
sole discretion with respect to any outstanding US Swing Line Loan, or (B) shall
on the seventh day after the Borrowing Date of any US Swing Line Loan, require
each Lender (including the US Swing Line Lender) to make a Revolving Loan in the
amount of such Lender's Pro Rata Share of such US Swing Line Loan (including,
without limitation, any interest accrued and unpaid thereon), for the purpose of
repaying such US Swing Line Loan.  Not later than noon (Central time)
on the date of any notice received pursuant to this Section 2.5.2(d),
each Lender shall make available its required Revolving Loan, in funds
immediately available in Chicago to the Administrative Agent at its address
specified pursuant to Article XIII.  Revolving
Loans made pursuant to this Section 2.5.2(d)
shall initially be Floating Rate Loans and thereafter may be continued as
Floating Rate Loans or converted into Eurocurrency Loans in the manner provided
in Section 2.10 and
subject to the other conditions and limitations set out in this Article II.  Unless
a Lender shall have notified the US Swing Line Lender, prior to its making any
US Swing Line Loan, that any applicable condition precedent set out in Sections 4.1 or
4.2 had not
then been satisfied, such Lender's obligation to make Revolving Loans pursuant
to this Section 2.5.2(d)
to repay Swing Line Loans shall be unconditional, continuing, irrevocable and
absolute and shall not be affected by any circumstances, including, without
limitation, (1) any set-off, counterclaim, recoupment, defense or other right
which such Lender may have against the Administrative Agent, the US Swing Line
Lender or any other Person, (2) the occurrence or continuance of a Default or
Unmatured Default, (3) any adverse change in the condition (financial or
otherwise) of the Parent or the applicable Borrower, or (4) any other
circumstances, happening or event whatsoever.  In the event that any
Lender fails to make payment to the Administrative Agent of any amount due under
this Section 2.5.2(d),
the Administrative Agent shall be entitled to receive, retain and apply against
such obligation the principal and interest otherwise payable to such Lender
hereunder until the Administrative Agent receives such payment from such Lender
or such obligation is otherwise fully satisfied.  In addition to the
foregoing, if for any reason any Lender fails to make payment to the
Administrative Agent of any amount due under this Section 2.5.2(d),
such Lender shall be deemed, at the option of the Administrative Agent, to have
unconditionally and irrevocably purchased from such US Swing Line Lender,
without recourse or warranty, an undivided interest and participation in the
applicable US Swing Line Loan in the amount of such Revolving Loan, and such
interest and participation may be recovered from such Lender together with
interest thereon at the Federal Funds Effective Rate for each day during the
period commencing on the date of demand and ending on the date such amount is
received.  Notwithstanding the foregoing, a Lender shall have no
obligation to acquire a participation in a US Swing Line Loan pursuant to this
paragraph if a Default shall have occurred and be continuing at the time such US
Swing Line Loan was made and such Lender shall have notified the US Swing Line
Lender in writing, prior to the making by the US Swing Line Lender of such US
Swing Line Loan, that such Default has occurred and is continuing and that such
Lender will not acquire participations in US Swing Line Loans made while such
Default is continuing.  No purchase by a Lender of a US Swing Line
Loan pursuant to Section 2.5.2
shall require such Lender to exceed its Commitment.

     

     

     

    
      
        
        

      

      
        -25-

        
          

        

      

      
        
        

      

    

    (ii) All US
Swing Line Loans shall mature, and the principal amount thereof and the unpaid
accrued interest thereon shall be due and payable as set out above in (i) above
and on the applicable Commitment Maturity Date.  Interest accrued on
US Swing Line Loans shall be payable on each Payment Date and on any date on
which such US Swing Line Loans are prepaid, whether due to acceleration or
otherwise, and at maturity.

     

    2.5.3 UK Swing Line
Loans.  

     

    (a) Upon the
satisfaction of the conditions precedent set out in Section 4.2 and,
if such UK Swing Line Loan is to be made on the date of the initial Advance
hereunder, the satisfaction of the conditions precedent set out in Section 4.1 as
well, from and including the date of this Agreement and prior to its respective
Commitment Maturity Date, each UK Swing Line Lender agrees, on the terms and
conditions set out in this Agreement, to make UK Swing Line Loans in Dollars,
Euros or British Pounds Sterling to the Parent or any UK Borrower from time to
time in an aggregate principal Dollar Amount not to exceed, for all such
Borrowers, the UK Swing Line Commitment, provided that (i) the Aggregate
Outstanding Credit Exposure shall not at any time exceed the Aggregate
Commitment, and (ii) at no time shall such UK Swing Line Lender's Outstanding
Credit Exposure exceed the Dollar Amount of such UK Swing Line Lender's
Commitment at such time.  UK Swing Line Loans may bear interest at
either the Offered Rate or the Eurocurrency Rate.  Subject to the
terms of this Agreement, the Parent and the UK Borrowers may borrow, repay and
reborrow UK Swing Line Loans at any time prior to the applicable Commitment
Maturity Date.

     

     

    
      
        
        

      

      
        -26-

        
          

        

      

      
        
        

      

    

    (b) The
Parent or the applicable UK Borrower shall deliver to the European
Administrative Agent irrevocable written notice (a "UK Swing Line Borrowing
Notice") not later than 11:00 a.m. (London time) on the Borrowing Date of
each UK Swing Line Loan that is an Offered Rate Advance and three Business Days
before the Borrowing Date for each UK Swing Line Loan that is a Eurocurrency
Advance, specifying (i) the applicable Borrowing Date (which date shall be a
Business Day), (ii) the aggregate amount of the requested UK Swing Line Loan
which shall be an amount not less than $500,000, (iii) whether such UK Swing
Line Loan shall be denominated in Dollars, Euros or British Pounds Sterling,
(iv) whether such UK Swing Line Loan shall bear interest at the Eurocurrency
Rate or at the Offered Rate for UK Swing Line Loans, (v) in the case of a
UK Swing Line Loan bearing interest at the Eurocurrency Rate, the Interest
Period applicable thereto and, in the case of a UK Swing Line Loan bearing
interest at the Offered Rate, the Interest Period requested therefor, and
(vi) the applicable UK Borrower.

     

    (c) Promptly
after receipt of a UK Swing Line Borrowing Notice, the European Administrative
Agent shall notify each UK Swing Line Lender by fax of the requested UK Swing
Line Loan.  Not later than 2:00 p.m. (London time) on the applicable
Borrowing Date, each UK Swing Line Lender shall make available its UK Swing Line
Share of the UK Swing Line Loan, in funds immediately available in London, to
the European Administrative Agent at its address specified pursuant to Article
XIII.  The European Administrative Agent will promptly make the
funds so received from the UK Swing Line Lenders available to the Parent or the
applicable UK Borrower on the Borrowing Date at the European Administrative
Agent's aforesaid address.

     

    (d) Repayment
of UK Swing Line Loans:

     

    (i) Upon the
occurrence of a Default, any UK Swing Line Lender may, upon notice to the
European Administrative Agent and the Administrative Agent, require each Lender
(including such UK Swing Line Lender or its applicable Affiliate) to make a
Revolving Loan in the amount of such Lender's Pro Rata Share of such UK Swing
Line Loan (including, without limitation, any interest accrued and unpaid
thereon), for the purpose of repaying such UK Swing Line Loan.  Not
later than 3:00 p.m. (London time) on the third Business Day following the date
of any notice received pursuant to this Section 2.5.3, each
Lender shall make available its required Revolving Loan, in funds immediately
available in London to the European Administrative Agent at its address
specified pursuant to Article XIII.  Revolving
Loans made pursuant to this Section 2.5.3 shall
be made in the currency in which the UK Swing Line Loan to be repaid is
denominated, and shall be Eurocurrency Loans.  Unless a Lender shall
have notified such UK Swing Line Lender, prior to its making any UK Swing Line
Loan, that any applicable condition precedent set out in Sections 4.1 or
4.2 had
not then been satisfied, such Lender's obligation to make Revolving Loans
pursuant to this Section 2.5.3 to
repay UK Swing Line Loans shall be unconditional, continuing, irrevocable and
absolute and shall not be affected by any circumstances, including, without
limitation, (A) any set-off, counterclaim, recoupment, defense or other right
which such Lender may have against the European Administrative Agent, the
Administrative Agent, any UK Swing Line Lender or any other Person, (B) the
occurrence or continuance of a Default or Unmatured Default, (C) any adverse
change in the condition (financial or otherwise) of the Parent or the applicable
UK Borrower, or (D) any other circumstances, happening or event
whatsoever.  In the event that any Lender fails to make payment to the
European Administrative Agent of any amount due under this Section 2.5.3, the
European Administrative Agent and the Administrative Agent shall be entitled to
receive, retain and apply against such obligation the principal and interest
otherwise payable to such Lender hereunder until the European Administrative
Agent receives such payment from such Lender or such obligation is otherwise
fully satisfied.  In addition to the foregoing, if for any reason any
Lender fails to make payment to the European Administrative Agent of any amount
due under this Section
2.5.3, such Lender shall be deemed, at the option of the European
Administrative Agent, to have unconditionally and irrevocably purchased from
such UK Swing Line Lender, without recourse or warranty, an undivided interest
and participation in the applicable UK Swing Line Loan in the amount of such
Revolving Loan, and such interest and participation may be recovered from such
Lender together with interest thereon at the Federal Funds Effective Rate or, in
the case of an amount payable in a currency other than Dollars, the overdraft
cost or other applicable rate determined by the European Administrative Agent in
its discretion as the appropriate rate for interbank settlements, in each case,
for each day during the period commencing on the date of demand and ending on
the date such amount is received.

     

     

    
      
        
        

      

      
        -27-

        
          

        

      

      
        
        

      

    

    (e) All UK
Swing Line Loans shall mature, and the principal amount thereof and the unpaid
accrued interest thereon shall be due and payable on the last day of the
Interest Period therefor (subject to Section 2.10(b)), on
any date on which such UK Swing Line Loans are prepaid, whether due to
acceleration or otherwise, and on the applicable Commitment Maturity
Date.

     

     

    2.5.4 Singapore Swing Line Loans.

     

    (a) Upon the
satisfaction of the conditions precedent set out in Section 4.2 and,
if such Singapore Swing Line Loan is to be made on the date of the initial
Advance hereunder, the satisfaction of the conditions precedent set out in Section 4.1 as
well, from and including the date of this Agreement and prior to its respective
Commitment Maturity Date, each Singapore Swing Line Lender agrees, on the terms
and conditions set out in this Agreement, to make Singapore Swing Line Loans in
Dollars to any Singapore Borrower from time to time in an aggregate principal
amount not to exceed, for all such Borrowers, the Singapore Swing Line
Commitment, provided
that (i)
the Aggregate Outstanding Credit Exposure shall not at any time exceed the
Aggregate Commitment, and (ii) at no time shall such Singapore Swing Line
Lender's Outstanding Credit Exposure exceed the Dollar Amount of such Singapore
Swing Line Lender's Commitment at such time.  Singapore Swing Line
Loans shall bear interest at the Eurocurrency Rate.  Subject to the
terms of this Agreement, the Singapore Borrowers may borrow, repay and reborrow
Singapore Swing Line Loans at any time prior to the applicable Commitment
Maturity Date.

     

     

     

    
      
        
        

      

      
        -28-

        
          

        

      

      
        
        

      

    

     

    (b) The
Parent or the applicable Singapore Borrower shall deliver to the Administrative
Agent and the Singapore Swing Line Lenders irrevocable written notice (a "Singapore Swing Line
Borrowing Notice") not later than 10:00 a.m. (Singapore time) four
Business Days before the Borrowing Date for each Singapore Swing Line Loan,
specifying (i) the applicable Borrowing Date (which date shall be a Business
Day), (ii) the aggregate amount of the requested Singapore Swing Line Loan which
shall be an amount not less than $1,000,000 and in multiples of $100,000 if in
excess thereof, (iii) the Interest Period applicable to such Singapore Swing
Line Loan, and (iv) the applicable Singapore Borrower.

     

    (c) Promptly
after receipt of a Singapore Swing Line Borrowing Notice, the Administrative
Agent shall notify each Singapore Swing Line Lender by fax of the requested
Singapore Swing Line Loan.  Not later than 2:00 p.m. (Singapore time)
on the applicable Borrowing Date, each Singapore Swing Line Lender shall make
available its Singapore Swing Line Share of the Singapore Swing Line Loan, in
funds immediately available in Singapore, to the applicable Singapore Borrower
at such Singapore Swing Line Lender's address specified pursuant to Article
XIII.

     

    (d) Repayment
of Singapore Swing Line Loans:

     

    (i) Upon the
occurrence of a Default, any Singapore Swing Line Lender may, upon notice to the
Administrative Agent, require each Lender (including such Singapore Swing Line
Lender or its applicable Affiliate) to make a Revolving Loan in the amount of
such Lender's Pro Rata Share of such Singapore Swing Line Loan (including,
without limitation, any interest accrued and unpaid thereon), for the purpose of
repaying such Singapore Swing Line Loan.  Not later than noon (Central
time) on the Business Day following the date of any notice received pursuant to
this Section
2.5.4, each Lender shall make available its required Revolving Loan, in
funds immediately available in Chicago to the Administrative Agent at its
address specified pursuant to Article XIII.  Revolving
Loans made pursuant to this Section 2.5.4 shall
be made in Dollars, and shall initially be Floating Rate Loans and thereafter
may be continued as Floating Rate Loans or converted into Eurocurrency Loans in
the manner provided in Section 2.10 and
subject to the other conditions and limitations set out in this Article
II.  Unless a Lender shall have notified such Singapore Swing
Line Lender, prior to its making any Singapore Swing Line Loan, that any
applicable condition precedent set out in Sections 4.1 or
4.2 had
not then been satisfied, such Lender's obligation to make Revolving Loans
pursuant to this Section 2.5.4 to
repay Singapore Swing Line Loans shall be unconditional, continuing, irrevocable
and absolute and shall not be affected by any circumstances, including, without
limitation, (A) any set-off, counterclaim, recoupment, defense or other right
which such Lender may have against the Administrative Agent, any Singapore Swing
Line Lender or any other Person, (B) the occurrence or continuance of a Default
or Unmatured Default, (C) any adverse change in the condition (financial or
otherwise) of the Parent or the applicable Singapore Borrower, or (D) any other
circumstances, happening or event whatsoever.  In the event that any
Lender fails to make payment to the Administrative Agent of any amount due under
this Section
2.5.4, the Administrative Agent shall be entitled to receive, retain and
apply against such obligation the principal and interest otherwise payable to
such Lender hereunder until the Administrative Agent receives such payment from
such Lender or such obligation is otherwise fully satisfied.  In
addition to the foregoing, if for any reason any Lender fails to make payment to
the Administrative Agent of any amount due under this Section 2.5.4, such
Lender shall be deemed, at the option of the Administrative Agent, to have
unconditionally and irrevocably purchased from such Singapore Swing Line Lender,
without recourse or warranty, an undivided interest and participation in the
applicable Singapore Swing Line Loan in the amount of such Revolving Loan, and
such interest and participation may be recovered from such Lender together with
interest thereon at the Federal Funds Effective Rate for each day during the
period commencing on the date of demand and ending on the date such amount is
received.

     

    
      
        
        

      

      
        -29-

        
          

        

      

      
        
        

      

    

    (e) All
Singapore Swing Line Loans shall mature, and the principal amount thereof and
the unpaid accrued interest thereon shall be due and payable on the last day of
the Interest Period therefor (subject to Section 2.10(b)), on
any date on which such Singapore Swing Line Loans are prepaid, whether due to
acceleration or otherwise, and on the applicable Commitment Maturity
Date.

     

    2.6 Facility Fee; Usage Fee;
Reductions in Aggregate Commitment.

     

    2.6.1 Facility
Fee.  The Parent agrees to pay to the Administrative Agent for
the account of each Lender according to its Pro Rata Share a facility fee (the
"Facility Fee")
at a per annum rate equal to the Applicable Fee Rate on the Aggregate Commitment
from the date hereof to and including the Facility Termination Date, payable on
each Payment Date hereafter, on each respective Commitment Maturity Date, and on
the Facility Termination Date.

     

    
      
        
        

      

      
        -30-

        
          

        

      

      
        
        

      

    

    2.6.2 Usage
Fee.  For all days on which the Aggregate Outstanding Credit
Exposure exceeds 50% of the Aggregate Commitment, the Parent agrees to pay to
the Administrative Agent for the account of each Lender according to its Pro
Rata Share a usage fee at a per annum rate equal to the Applicable Fee Rate on
the amount of the Aggregate Outstanding Credit Exposure from the date hereof to
and including the Facility Termination Date, payable on each Payment Date
hereafter, on each respective Commitment Maturity Date, and on the Facility
Termination Date.

     

    2.6.3 Reductions in Aggregate
Commitment.  The Parent may permanently reduce the Aggregate
Commitment in whole, or in part ratably among the Lenders in integral multiples
of $10,000,000 (or the Approximate Equivalent Amount if denominated in an Agreed
Currency other than Dollars), upon at least three Business Days' written notice
to the Administrative Agent, which notice shall specify the amount of any such
reduction, provided
that the amount of the Aggregate Commitment may not be reduced below the
Dollar Amount of the Aggregate Outstanding Credit Exposure unless the amount of
the excess of the Dollar Amount of the Aggregate Outstanding Credit Exposure
over the amount of the reduced Aggregate Commitment is repaid concurrently with
the reduction of the Aggregate Commitment.  All accrued facility fees
shall be payable on the effective date of any termination of the obligations of
the Lenders to make Credit Extensions hereunder.

     

    2.7 Minimum Amount of Each
Advance.  Each Eurocurrency Advance (other than a Swing Line
Loan) shall be in a minimum amount of $5,000,000 and in multiples of $1,000,000
if in excess thereof (or the Approximate Equivalent Amounts if denominated in an
Agreed Currency other than Dollars), and each Floating Rate Advance (other than
a Swing Line Loan or an Advance to repay Swing Line Loans) shall be in the
minimum amount of $1,000,000 and in multiples of $500,000 if in excess thereof,
provided that
any Floating Rate Advance may be in the amount of the Available Aggregate
Commitment.

     

    2.8 Optional Principal
Payments.  Any Borrower may from time to time pay, without
penalty or premium, all outstanding Floating Rate Advances (other than Swing
Line Loans), or, in a minimum aggregate amount of $1,000,000 or any integral
multiple of $500,000 in excess thereof, any portion of the outstanding Floating
Rate Advances (other than Swing Line Loans) upon two Business Days' prior notice
to the Administrative Agent.  The applicable Borrower may at any time
pay, without penalty or premium, all outstanding Swing Line Loans that bear
interest at the Floating Rate or the Canadian Prime Rate, or, in a minimum
amount of $100,000 and increments of $50,000 in excess thereof, any portion of
such outstanding Swing Line Loans, with notice to the Administrative Agent or
Canadian Administrative Agent, as applicable, and the applicable Swing Line
Lender(s) by 11:00 a.m. (Central time) or 11:00 a.m. (Toronto time), as
applicable, on the date of repayment.  Any Borrower may from time to
time pay, subject to the payment of any funding indemnification amounts required
by Section 3.4 but
without penalty or premium, all outstanding Eurocurrency Advances (other than
Swing Line Loans), or, in a minimum aggregate amount of $5,000,000 or any
integral multiple of $1,000,000 in excess thereof (or the Approximate Equivalent
Amount if denominated in an Agreed Currency other than Dollars), any portion of
the outstanding Eurocurrency Advances upon three Business Days' prior notice to
the Administrative Agent, the European Administrative Agent, or the Canadian
Administrative Agent, as applicable.  The Parent or any Canadian
Borrower, UK Borrower, or Singapore Borrower, as applicable, may at any time
pay, subject to the payment of any funding indemnification amounts required by
Section 3.4 but
without penalty or premium, all outstanding Canadian Swing Line Loans, US Swing
Line Loans, UK Swing Line Loans, or Singapore Swing Line Loans, as applicable,
that bear interest at the Eurocurrency Rate or the Offered Rate, or, in a
minimum amount of $100,000 (or $500,000, in the case of UK Swing Line Loans) and
increments of $50,000 in excess thereof (or the Approximate Equivalent Amount if
denominated in an Agreed Currency other than Dollars), any portion of such
outstanding Canadian Swing Line Loans, US Swing Line Loans, UK Swing Line Loans,
or Singapore Swing Line Loans, as applicable, upon three Business Days' prior
notice to the Administrative Agent, the European Administrative Agent, or the
Canadian Administrative Agent, as applicable, and the applicable Swing Line
Lender(s).

     

     

    
      
        
        

      

      
        -31-

        
          

        

      

      
        
        

      

    

    2.9 Method of Selecting Types
and Interest Periods for New Advances.  A Borrower shall select
the Type of Advance and, in the case of each Eurocurrency Advance, the Interest
Period and Agreed Currency applicable thereto from time to time.  Such
Borrower shall give the Administrative Agent (in the case of an Advance
denominated in Dollars), the European Administrative Agent (in the case of an
Advance denominated in an Agreed Currency other than Dollars or Canadian
Dollars), or the Canadian Administrative Agent (in the case of an Advance
denominated in Canadian Dollars), as applicable, irrevocable notice (a "Borrowing Notice")
not later than 10:00 a.m. (Central time) on the Borrowing Date of each Floating
Rate Advance (other than a Swing Line Loan), 10:00 a.m. (Central time) three
Business Days before the Borrowing Date for each Eurocurrency Advance
denominated in Dollars, 10:00 a.m. (Toronto time) three Business Days before the
Borrowing Date for each Eurocurrency Advance denominated in Canadian Dollars,
and 11:00 a.m. (London time) three Business Days before the Borrowing Date for
each Eurocurrency Advance denominated in an Agreed Currency other than Dollars
or Canadian Dollars, specifying (a) the Borrowing Date, which shall be a
Business Day, of such Advance, (b) the aggregate amount of such Advance, (c) the
Type of Advance selected, (d) in the case of each Eurocurrency Advance, the
Interest Period and Agreed Currency applicable thereto, and (e) the applicable
Borrower.  Any Borrowing Notice with respect to a Eurocurrency Advance
denominated in an Agreed Currency other than Dollars shall be in
writing.

     

    2.10 Conversion and Continuation
of Outstanding Advances.  (a)  Floating Rate Advances
(other than Swing Line Loans which are addressed in clause (b) below) shall
continue as Floating Rate Advances unless and until such Floating Rate Advances
are converted into Eurocurrency Advances pursuant to this Section 2.10 or
are repaid in accordance with Section 2.8.  Each
Eurocurrency Advance (other than UK Swing Line Loans and Singapore Swing Line
Loans which are addressed in clause (b) below) shall continue as a Eurocurrency
Advance until the end of the then applicable Interest Period therefor, at which
time

     

    (i) each such
Eurocurrency Advance denominated in Dollars shall be automatically converted
into a Floating Rate Advance unless (A) such Eurocurrency Advance is or was
repaid in accordance with Section 2.8 or
(B) the applicable Borrower shall have timely given the Administrative Agent a
Conversion/Continuation Notice (as defined below) requesting that, at the end of
such Interest Period, such Eurocurrency Advance either continue as a
Eurocurrency Advance, denominated in Dollars, for the same or another Interest
Period or be converted into a Floating Rate Advance; and

     

    (ii) each such
Eurocurrency Advance denominated in an Agreed Currency other than Dollars shall
automatically continue as a Eurocurrency Advance in the same Agreed Currency
with an Interest Period of one month unless (A) such Eurocurrency Advance is or
was repaid in accordance with Section 2.8 or
(B) the applicable Borrower shall have timely given the European Administrative
Agent, or Canadian Administrative Agent, as applicable, a
Conversion/Continuation Notice (as defined below) requesting that, at the end of
such Interest Period, such Eurocurrency Advance continue as a Eurocurrency
Advance, denominated in the same Agreed Currency, for the same or another
Interest Period.

     

     

    
      
        
        

      

      
        -32-

        
          

        

      

      
        
        

      

    

    (b) Each US
Swing Line Loan that is a Floating Rate Loan shall, subject to Section 2.5.2(d),
continue as such unless prepaid or repaid.  Each Canadian Swing Line
Loan that is a Canadian Prime Rate Loan shall, subject to Section 2.5.1(d),
continue as such unless prepaid or repaid.  Each Swing Line Loan that
is an Offered Rate Loan and each Swing Line Loan that is a Eurocurrency Loan, as
applicable, shall, subject to Section 2.5.1(d),
2.5.2(d), 2.5.3(d), or 2.5.4(d), as
applicable, continue as such until the end of the then applicable Interest
Period therefor, at which time such Swing Line Loan shall be prepaid or
repaid.

     

    (c) Subject
to the terms of Section 2.7, any
Borrower may elect from time to time to convert all or any part of an Advance of
any Type into any other Type or Types of Advances denominated in the same Agreed
Currency; provided
that any conversion of any Eurocurrency Advance shall be made on, and
only on, the last day of the Interest Period applicable thereto. Such Borrower
shall give the Administrative Agent (in the case of an Advance denominated in
Dollars), the European Administrative Agent (in the case of an Advance
denominated in an Agreed Currency other than Dollars or Canadian Dollars), or
the Canadian Administrative Agent (in the case of an Advance denominated in
Canadian Dollars), as applicable, irrevocable notice (a "Conversion/Continuation
Notice") of each conversion of an Advance or continuation of a
Eurocurrency Advance, which notice shall be in writing in the case of any
continuation or conversion of a Eurocurrency Advance delivered to the European
Administrative Agent or the Canadian Administrative Agent, not later than 10:00
a.m. (Central time) at least one Business Day prior to the date of the requested
conversion or continuation, in the case of a conversion into a Floating Rate
Advance, 10:00 a.m. (Central time) at least three Business Days prior to the
date of the requested conversion or continuation, in the case of a conversion
into or continuation of a Eurocurrency Advance denominated in Dollars, 10:00
a.m. (Toronto time) at least three Business Days prior to the date of the
requested conversion or continuation, in the case of a conversion into or
continuation of a Eurocurrency Advance denominated in Canadian Dollars, or 11:00
a.m. (London time) at least three Business Days prior to the date of the
requested conversion or continuation, in the case of a conversion into or
continuation of a Eurocurrency Advance denominated in an Agreed Currency other
than Dollars or Canadian Dollars, prior to the date of the requested conversion
or continuation, specifying (i) the requested date, which shall be a Business
Day, of such conversion or continuation, and (ii) the Agreed Currency, amount
and Type(s) of Advance(s) into which such Advance is to be converted or
continued and, in the case of a conversion into or continuation of a
Eurocurrency Advance, the duration of the Interest Period applicable
thereto.

     

     

    
      
        
        

      

      
        -33-

        
          

        

      

      
        
        

      

    

    2.11 Method of
Borrowing.  On each Borrowing Date, each Lender shall make
available its Loan or Loans, if any, (a) if such Loan is denominated in Dollars,
not later than noon, Central Time, in Federal or other funds immediately
available to the Administrative Agent at its address specified in or pursuant to
Article XIII
and, (b) if such Loan is denominated in an Agreed Currency other than Dollars,
not later than noon, local time, in the city of the Administrative Agent's
Eurocurrency Payment Office for such currency, in such funds as may then be
customary for the settlement of international transactions in such currency in
the city of and at the address of the Administrative Agent's Eurocurrency
Payment Office for such currency.  Unless the Administrative Agent,
European Administrative Agent, or Canadian Administrative Agent, as applicable,
determines that any applicable condition specified in Article IV has
not been satisfied, the Administrative Agent, European Administrative Agent, or
Canadian Administrative Agent, as applicable, will make the funds so received
from the Lenders available to the applicable Borrower at the Administrative
Agent's, European Administrative Agent's, or Canadian Administrative Agent's, as
applicable, aforesaid address.  Notwithstanding the foregoing
provisions of this Section 2.11, to
the extent that a Loan made by a Lender matures on the Borrowing Date of a
requested Loan, such Lender shall apply the proceeds of the Loan it is then
making to the repayment of principal of the maturing Loan.

     

    2.12 Changes in Interest Rate,
etc.  Each Floating Rate Advance (other than a Swing Line Loan)
shall bear interest on the outstanding principal amount thereof, for each day
from and including the date such Advance is made or is converted from a
Eurocurrency Advance into a Floating Rate Advance pursuant to Section 2.10 to
but excluding the date it becomes due or is converted into a Eurocurrency
Advance pursuant to Section 2.10
hereof, at a rate per annum equal to the Floating Rate for such
day.  Each Swing Line Loan that bears interest at the Floating Rate or
the Canadian Prime Rate shall bear interest on the outstanding principal amount
thereof, for each day from and including the day such Swing Line Loan is made to
but excluding the date it is paid, at a rate per annum equal to the Floating
Rate or the Canadian Prime Rate, as applicable, for such day.  Changes
in the rate of interest on that portion of any Advance maintained as a Floating
Rate Advance or bearing interest at the Canadian Prime Rate will take effect
simultaneously with each change in the Alternate Base Rate or Canadian Prime
Rate, as applicable.  Each Eurocurrency Advance and Offered Rate
Advance shall bear interest on the outstanding principal amount thereof from and
including the first day of the Interest Period applicable thereto to (but not
including) the last day of such Interest Period at the interest rate determined
by the Administrative Agent, European Administrative Agent, Canadian
Administrative Agent, or applicable Swing Line Lender, as applicable, as
applicable to such Eurocurrency Advance or Offered Rate Advance based upon the
applicable Borrower's selections under Sections 2.5.1,
2.5.2, 2.5.3, 2.5.4, and 2.9, as applicable,
and Section 2.10 and
otherwise in accordance with the terms hereof.  No Interest Period may
end after the Facility Termination Date.

     

     

    
      
        
        

      

      
        -34-

        
          

        

      

      
        
        

      

    

    2.13 Rates Applicable After
Default.  Notwithstanding anything to the contrary contained in
Section 2.9 or
2.10, during
the continuance of a Default or Unmatured Default the Required Lenders may, at
their option, by notice to the Parent declare that no Advance may be made as,
converted into or continued at the end of the applicable Interest Period as a
Eurocurrency Advance.  During the continuance of a Default the
Required Lenders may, at their option, by notice to the Parent, declare that (a)
each Eurocurrency Advance and Offered Rate Advance shall bear interest for the
remainder of the applicable Interest Period at the rate otherwise applicable to
such Interest Period plus 2% per annum, (b) each Floating Rate Advance and
Canadian Prime Rate Advance shall bear interest at a rate per annum equal to the
Floating Rate or Canadian Prime Rate, as applicable, in effect from time to time
plus 2% per annum, and (c) the LC Fee shall be increased by 2% per annum, provided that, during
the continuance of a Default under Section 7.6 or
7.7, the
interest rates set out in clauses (a) and (b) above, and the increase in the LC
Fee set forth in clause (c) above,  shall be applicable to all Credit
Extensions without any election or action on the part of the Administrative
Agent or any Lender.  Any notice given by Required Lenders under this
Section 2.13 may
be revoked by Required Lenders notwithstanding any provision of Section 8.2
requiring unanimous consent of the Lenders to changes in interest
rates.

     

    2.14 Method of
Payment.  (a) Each Advance shall be repaid, each payment of
interest thereon shall be paid, and each reimbursement of any amounts payable
upon a drawing under any Facility LC shall be made in the currency in which such
Advance or payment was made.  All payments of the Obligations
hereunder shall be made, without setoff, deduction, or counterclaim, in
immediately available funds to the Administrative Agent, European Administrative
Agent, or Canadian Administrative Agent, as applicable, at (except as set out in
the next sentence) the Administrative Agent's, European Administrative Agent's,
or Canadian Administrative Agent's, as applicable, address specified pursuant to
Article XIII, or
at any other Lending Installation of the Administrative Agent specified in
writing by the Administrative Agent to the Borrowers, by noon (local time) on
the date when due and shall (except in the case of Reimbursement Obligations for
which any LC Issuer has not been fully indemnified by the Lenders, or as
otherwise specifically required hereunder) be applied ratably by the
Administrative Agent, European Administrative Agent, or Canadian Administrative
Agent, as applicable, among the Lenders.  All payments to be made by
the Borrowers hereunder in any currency other than Dollars shall be made in such
currency on the date due in such funds as may then be customary for the
settlement of international transactions in such currency for the account of the
Administrative Agent, European Administrative Agent, or Canadian Administrative
Agent, as applicable, at its Eurocurrency Payment Office for such currency and
shall be applied ratably by the Administrative Agent, European Administrative
Agent, or Canadian Administrative Agent, as applicable, among the
Lenders.  Each payment delivered to the Administrative Agent, European
Administrative Agent, or Canadian Administrative Agent, as applicable, for the
account of any Lender shall be delivered promptly by the Administrative Agent,
European Administrative Agent, or Canadian Administrative Agent, as applicable,
to such Lender in the same type of funds that the Administrative Agent, European
Administrative Agent, or Canadian Administrative Agent, as applicable, received
at, (a) with respect to Loans denominated in Dollars, its address specified
pursuant to Article XIII or
at any Lending Installation specified in a notice received by the Administrative
Agent from such Lender and (ii) with respect to Eurocurrency Loans denominated
in an Agreed Currency other than Dollars, in the funds received from the
applicable Borrower at the address of the Administrative Agent's Eurocurrency
Payment Office for such currency.  Each of the Administrative Agent,
the European Administrative Agent, and the Canadian Administrative Agent is
hereby authorized to charge any account of any Borrower maintained with
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, or any of their Affiliates for each payment of principal,
interest, Reimbursement Obligations, and fees as it becomes due
hereunder.  Each reference to the Administrative Agent in this Section 2.14
shall also be deemed to refer, and shall apply equally, to the LC Issuers, in
the case of payments required to be made by any Borrower to any LC Issuer
pursuant to Section 2.26.6.

     

     

    
      
        
        

      

      
        -35-

        
          

        

      

      
        
        

      

    

    (b) Notwithstanding
the provisions of subsection (a) above, if, after the making of any Advance or
the issuance of any Facility LC in any currency other than Dollars, 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 Advance was made
or the Facility LC was issued (the "Original Currency")
no longer exists or the applicable Borrower is not able to make payment to the
Administrative Agent, the European Administrative Agent, or the Canadian
Administrative Agent, as applicable, for the account of the Lenders in such
Original Currency, then all payments to be made by such Borrower hereunder in
such currency (including any deposits required to be made to the Facility LC
Collateral Account) 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.

     

    2.15 [Reserved].

     

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

     

    (b) The
Administrative Agent, the European Administrative Agent, and the Canadian
Administrative Agent, as applicable, shall maintain accounts in which it will
record (i) the amount of each Loan made hereunder, the Agreed Currency and Type
thereof and the Interest Period with respect 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, (iii) the original stated amount of each
Facility LC and the amount of LC Obligations outstanding at any time, and (iv)
the amount of any sum received by the Administrative Agent, the European
Administrative Agent, and the Canadian Administrative Agent, as applicable,
hereunder from the Borrowers and each Lender's share thereof.

     

    (c) The
entries maintained in the accounts maintained pursuant to paragraphs (a) and (b)
above shall be prima facie evidence of the existence and amounts of the
Obligations therein recorded; provided that the
failure of the Administrative Agent, the European Administrative Agent, the
Canadian Administrative Agent, or any Lender to maintain such accounts or any
error therein shall not in any manner affect the obligation of the Borrowers to
repay the Obligations in accordance with their terms.

     

    (d) Any
Lender may request that its Loans be evidenced by a promissory note
substantially in the form of Exhibit E (a "Note").  In
such event, the Borrowers shall prepare, execute and deliver to such Lender a
Note payable to the order of such Lender in a form supplied by the
Administrative Agent.  Thereafter, the Loans evidenced by such Note
and interest thereon shall at all times (including after any assignment pursuant
to Section 12.3) be
represented by one or more Notes payable to the order of the payee named therein
or any assignee pursuant to Section 12.3,
except to the extent that any such Lender or assignee subsequently returns any
such Note for cancellation and requests that such Loans once again be evidenced
as described in paragraphs (a) and (b) above.

     

     

    
      
        
        

      

      
        -36-

        
          

        

      

      
        
        

      

    

    2.17 Telephonic
Notices.  Each Borrower hereby authorizes the Lenders and the
Administrative Agent to extend, convert or continue Advances, effect selections
of Agreed Currencies and Types of Advances and to transfer funds based on
telephonic notices which the Administrative Agent or any Lender in good faith
believes to be made by any person or persons that an Authorized Officer of the
Parent has designated in writing to the Administrative Agent, which written
authorization(s) may be relied upon by the Administrative Agent, in the case of
any person so authorized, until such time as the Administrative Agent shall have
received written notice from an Authorized Officer of the Borrower revoking such
person's authority to make such telephonic notices, it being understood that the
foregoing authorization is specifically intended to allow Borrowing Notices and
Conversion/Continuation Notices to be given telephonically.  Each
Borrower agrees to deliver promptly to the Administrative Agent a written
confirmation, if such confirmation is requested by the Administrative Agent or
any Lender, of each telephonic notice signed by an Authorized
Officer.  If the written confirmation differs in any material respect
from the action taken by the Administrative Agent and the Lenders, the records
of the Administrative Agent and the Lenders shall govern absent manifest
error.  Notwithstanding the foregoing, each Borrower agrees and
acknowledges that neither the European Administrative Agent nor the Canadian
Administrative Agent shall take any such actions without prior written
instructions from the applicable Borrower.

     

    2.18 Interest Payment Dates;
Interest and Fee Basis.  Interest accrued on each Floating Rate
Advance and Canadian Prime Rate Advance shall be payable on each Payment Date,
commencing with the first such date to occur after the date hereof, on any date
on which the Floating Rate Advance or Canadian Prime Rate Advance is prepaid,
whether due to acceleration or otherwise, and at maturity.  Interest
accrued on that portion of the outstanding principal amount of any Floating Rate
Advance converted into a Eurocurrency Advance on a day other than a Payment Date
shall be payable on the date of conversion.  Interest accrued on each
Eurocurrency Advance and Offered Rate Advance shall be payable on the last day
of its applicable Interest Period, on any date on which the Eurocurrency Advance
or Offered Rate Advance is prepaid, whether by acceleration or otherwise, and at
maturity.  Interest accrued on each Eurocurrency Advance or Offered
Rate Advance having an Interest Period longer than three months shall also be
payable on the last day of each three-month interval during such Interest
Period.  Interest, LC Fees, and other fees (except as provided in the
following sentence) shall be calculated for actual days elapsed on the basis of
a 360-day year, except for interest on Loans denominated in British Pounds
Sterling, Loans comprised of Floating Rate Advances, and Advances bearing
interest at the Canadian Prime Rate which shall be calculated for actual days
elapsed on the basis of a 365-day year.  Facility Fees and utilization
fees shall be calculated for actual days elapsed on the basis of a 365-day
year.  Interest shall be payable for the day an Advance is made but
not for the day of any payment on the amount paid if payment is received prior
to noon (local time) at the place of payment specified in Section 2.14.  If
any payment of principal or interest on an Advance shall become due on a day
which is not a Business Day, such payment shall be made on the next succeeding
Business Day and, in the case of a principal payment, such extension of time
shall be included in computing interest in connection with such
payment.

     

    
      
        
        

      

      
        -37-

        
          

        

      

      
        
        

      

    

    2.19 Notification of Advances,
Interest Rates, Prepayments and Commitment
Reductions.  Promptly after receipt thereof the Administrative
Agent, European Administrative Agent, or Canadian Administrative Agent, as
applicable, will notify each Lender (with a copy to the Administrative Agent, in
the case of any such notice provided by the European Administrative Agent or the
Canadian Administrative Agent) of the contents of each Aggregate Commitment
reduction notice, Borrowing Notice, Swing Line Borrowing Notice,
Conversion/Continuation Notice, and repayment notice received by it
hereunder.  Promptly after notice from an LC Issuer the Administrative
Agent, European Administrative Agent, or Canadian Administrative Agent as
applicable, will notify each Lender (with a copy to the Administrative Agent, in
the case of any such notice provided by the European Administrative Agent or the
Canadian Administrative Agent) of the contents of each request for issuance of a
Facility LC hereunder. The Administrative Agent, European Administrative Agent,
or Canadian Administrative Agent, as applicable, will notify each Lender of the
interest rate applicable to each Eurocurrency Advance promptly upon
determination of such interest rate, and the Administrative Agent will give each
Lender prompt notice of each change in the Alternate Base Rate.  Each
Reference Lender agrees to furnish upon request timely information for the
purpose of determining the Eurocurrency Rate.

     

    2.20 Lending
Installations.  Each Lender may book its Loans and its
participation in any LC Obligations and each LC Issuer may book the Facility LCs
at any Lending Installation selected by such Lender or such LC Issuer, as the
case may be, and may change its Lending Installation from time to
time.  All terms of this Agreement shall apply to any such Lending
Installation and the Loans, Facility LCs, participations in LC Obligations and
any Notes issued hereunder shall be deemed held by each Lender or each LC
Issuer, as the case may be, for the benefit of any such Lending
Installation.  Each Lender and each LC Issuer may, by written notice
to the Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, and the Borrowers in accordance with Article XIII,
designate replacement or additional Lending Installations through which Loans
will be made by it or Facility LCs will be issued by it and for whose account
Loan payments or payments with respect to Facility LCs are to be
made.

     

     

    
      
        
        

      

      
        -38-

        
          

        

      

      
        
        

      

    

    2.21 Non-Receipt of Funds by an
Administrative Agent.  Unless the applicable Borrower or a
Lender, as the case may be, notifies the Administrative Agent, European
Administrative Agent, or Canadian Administrative Agent, as applicable, prior to
the date on which it is scheduled to make payment to the Administrative Agent,
European Administrative Agent, or Canadian Administrative Agent, as applicable,
or, in the case of a Lender, prior to 12:00 noon (Central time) on the date on
which it is scheduled to make payment to the Administrative Agent of the
proceeds of a Floating Rate Loan, of (a) in the case of a Lender, the proceeds
of a Loan or (b) in the case of any Borrower, a payment of principal, interest
or fees to the Administrative Agent, European Administrative Agent, or Canadian
Administrative Agent, as applicable, for the account of the Lenders, that it
does not intend to make such payment, the Administrative Agent, European
Administrative Agent, or Canadian Administrative Agent, as applicable, may
assume that such payment has been made.  The Administrative Agent,
European Administrative Agent, or Canadian Administrative Agent, as applicable,
may, but shall not be obligated to, make the amount of such payment available to
the intended recipient in reliance upon such assumption.  If such
Lender or such Borrower, as the case may be, has not in fact made such payment
to the Administrative Agent, European Administrative Agent, or Canadian
Administrative Agent, as applicable, the recipient of such payment shall, on
demand by the Administrative Agent, European Administrative Agent, or Canadian
Administrative Agent, as applicable, repay to the Administrative Agent, European
Administrative Agent, or Canadian Administrative Agent, as applicable, the
amount so made available together with interest thereon in respect of each day
during the period commencing on the date such amount was so made available by
the Administrative Agent, European Administrative Agent, or Canadian
Administrative Agent, as applicable, until the date the Administrative Agent,
European Administrative Agent, or Canadian Administrative Agent, as applicable,
recovers such amount at a rate per annum equal to (a) in the case of payment by
a Lender, the Federal Funds Effective Rate for such day for the first three days
or, in the case of an amount payable in a currency other than Dollars, the
overdraft cost or other applicable rate determined by the European
Administrative Agent or Canadian Administrative Agent, as applicable, in its
discretion of the appropriate rate for interbank settlements and, in each case,
thereafter, the interest rate applicable to the relevant Loan or (b) in the case
of payment by any Borrower, the interest rate applicable to the relevant
Loan.

     

    2.22 Market
Disruption.  Notwithstanding the satisfaction of all conditions
referred to in Article II and
Article IV
with respect to any Advance in any Agreed Currency other than Dollars, if there
shall occur on or prior to the date of such Advance 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 Loans comprising such Advance to be denominated in the Agreed
Currency specified by the applicable Borrower, then the Administrative Agent
shall forthwith give notice thereof to the Borrowers, the Lenders, and the
European Administrative Agent or the Canadian Administrative Agent, as
applicable, and such Loans shall not be denominated in such Agreed Currency but
shall, except as otherwise set out in Section 2.15, be
made on such Borrowing Date in Dollars, in an aggregate principal amount equal
to the Dollar Amount of the aggregate principal amount specified in the related
Borrowing Notice or Conversion/Continuation Notice, as the case may be, as
Floating Rate Loans, unless the applicable Borrower notifies the Administrative
Agent at least one Business Day before such date that (a) it elects not to
borrow on such date or (b) 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 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 Borrowing Notice or
Conversion/Continuation Notice, as the case may be.

     

    
      
        
        

      

      
        -39-

        
          

        

      

      
        
        

      

    

    2.23 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 office on the Business Day preceding that on which final,
non-appealable judgment is given.  The obligations of the Borrowers in
respect of any sum due to any Lender, the Administrative Agent, the European
Administrative Agent, or the Canadian 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, the Administrative Agent, the European Administrative Agent, or the
Canadian Administrative Agent (as the case may be) of any sum adjudged to be so
due in such other currency such Lender, the Administrative Agent, the European
Administrative Agent, or the Canadian 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
Lender, the Administrative Agent, the European Administrative Agent, or the
Canadian Administrative Agent, as the case may be, in the specified currency,
each of the Borrowers agrees, to the fullest extent that it may effectively do
so, as a separate obligation and notwithstanding any such judgment, to indemnify
such Lender, the Administrative Agent, the European Administrative Agent, or the
Canadian 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, the Administrative Agent, the European Administrative Agent, or
the Canadian 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 12.2,
such Lender, the Administrative Agent, the European Administrative Agent, or the
Canadian Administrative Agent, as the case may be, agrees to remit such excess
to the Borrowers.

     

    2.24 Additional Borrowing
Subsidiaries.  Upon the request by the Parent and approval by
the Administrative Agent, any Subsidiary of the Parent may, on the terms and
conditions below, become a Borrowing Subsidiary hereunder provided that such
Borrowing Subsidiary shall execute and deliver to the Administrative Agent a
Joinder Agreement, together with such evidence of corporate authority to enter
into such Joinder Agreement as the Administrative Agent may reasonably request,
including without limitation, opinions of legal counsel regarding such corporate
authority and the enforceability of such Joinder Agreement and such other
documents, governmental certificates, agreement as the Administrative Agent may
reasonably request, including without limitation, information requested in order
for the Administrative Agent or any Lender to comply with the Patriot
Act.  Upon receipt of such a request from the Parent, the
Administrative Agent shall promptly notify the Lenders.  If, within
five (5) Business Days of delivery of such notice by the Administrative Agent,
any Lender (a "Protesting Lender")
shall notify the Parent and the Administrative Agent that it may not legally
lend to, establish credit for the account of and/or do business with such
applicant Borrowing Subsidiary, then the Parent shall, within five (5) Business
Days of delivery of such notice by such Protesting Lender, either (A) notify the
Administrative Agent and such Protesting Lender that it shall replace such
Protesting Lender pursuant to Section
2.25 (and such applicant Borrowing Subsidiary shall not have the
right to borrow or request Facility LCs hereunder until such replacement is
consummated) or (B) cancel its request to designate such Subsidiary as a
Borrowing Subsidiary hereunder.  

     

     

    
      
        
        

      

      
        -40-

        
          

        

      

      
        
        

      

    

    2.25 Lender
Replacement.  The Parent shall be permitted to replace (in
accordance with and subject to the restrictions contained in Section 12.1)
any Lender which (a) makes an assertion of the type described in Section 3.3 or
requests reimbursement for amounts owing pursuant to Section 3.1 or
3.2 (either for
its own account or for the account of any of its participants), (b) requires any
Borrower to pay Taxes in respect of such Lender, (c) fails to make any Advance
requested by it if the Required Lenders have made the Advances requested of them
pursuant to the same Borrowing Notice, (d) which is a Non-Extending Lender, or
(e) which is a Protesting Lender; provided that (i)
such replacement does not conflict with any applicable law, rule, regulation, or
directive, (ii) no Default or Unmatured Default shall have occurred and be
continuing at the time of such replacement, (iii) in the case of any replacement
pursuant to clause (a), (b), or (c) hereof, prior to any such replacement, such
Lender being replaced shall not have eliminated the continued need for repayment
of amounts owing pursuant to Section 3.1 or
3.2, as
applicable; and (iv) the Parent shall repay (or cause to be repaid) or the
assignee shall pay to the Lender being replaced, the amount of the Obligations
owing to such Lender on the date of replacement (including any amounts owing
under Sections 3.1,
3.2 and 3.4).

     

    2.26 Facility
LCs.  

     

    2.26.1 Issuance.  Each
LC Issuer hereby agrees, on the terms and conditions set out in this Agreement,
to issue Financial Letters of Credit, Performance Letters of Credit, Documentary
Letters of Credit and Bank Guaranties (collectively with the Existing Letters of
Credit, each, a "Facility LC") and to
renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each
such action a "Modification"), from
time to time from and including the date of this Agreement and prior to the date
that is 5 Business Days prior to its respective Commitment Maturity Date upon
the request of any Borrower or any Subsidiary; provided that (a)
each Facility LC shall be issued in an Agreed Currency, (b) immediately after
each such Facility LC is issued or Modified, the LC Obligations may not exceed
the LC Sublimit, and (c) immediately after each such Facility LC is issued or
Modified, the Aggregate Outstanding Credit Exposure may not exceed the Aggregate
Commitment.  No Facility LC shall have an initial expiry date later
than five years after its issuance.  Any Facility LC may provide for
the renewal thereof for additional one-year periods unless the LC Issuer
provides prior notice of non-renewal to the beneficiary, which periods shall not
in any event extend the expiry date of such Facility LC more than 12 months
beyond the respective Commitment Maturity Date.  Any Bank Guaranty
issued under this Agreement shall be subject to the additional requirements of
Section 2.26.13
hereof.  On the Closing Date, all Existing Letters of Credit shall
automatically, without any action on the part of any Person, be deemed to be
Facility LCs issued and outstanding hereunder, and shall be subject to and
governed by the terms and conditions hereof.

     

     

    
      
        
        

      

      
        -41-

        
          

        

      

      
        
        

      

    

    2.26.2 Participations.  Upon
the issuance or Modification by any LC Issuer of a Facility LC (other than a
Bank Guaranty) in accordance with this Section 2.26,
such LC Issuer shall be deemed, without further action by any party hereto, to
have unconditionally and irrevocably sold to each Lender, and each Lender shall
be deemed, without further action by any party hereto, to have unconditionally
and irrevocably purchased from such LC Issuer, a participation in such Facility
LC (and each Modification thereof) and the related LC Obligations in proportion
to its Pro Rata Share.

     

    2.26.3 Notice.  Subject
to Section 2.26.1,
the applicable Borrower or Subsidiary shall give the applicable LC Issuer notice
prior to 10:00 a.m. (Central time), in the case of a Facility LC in US Dollars,
10:00 a.m. (Toronto time), in the case of a Facility LC in Canadian Dollars, or
11:00 a.m. (London time) in the case of a Facility LC in a currency other than
US Dollars or Canadian Dollars, at least two Business Days prior to the proposed
date of issuance or Modification of each Facility LC, specifying the
beneficiary, the applicable currency, the proposed date of issuance (or
Modification) and the expiry date of such Facility LC, and describing the
proposed terms of such Facility LC and the nature of the transactions proposed
to be supported thereby.  Upon receipt of such notice, such LC Issuer
shall promptly notify the Administrative Agent, the European Administrative
Agent, or the Canadian Administrative Agent, as applicable, and the
Administrative Agent, the European Administrative Agent, or the Canadian
Administrative Agent, as applicable, shall promptly notify each Lender (with a
copy to the Administrative Agent, in the case of any such notice provided by the
European Administrative Agent or the Canadian Administrative Agent), of the
contents thereof and of the amount of such Lender's participation in such
proposed Facility LC (if applicable).  The issuance or Modification by
any LC Issuer of any Facility LC shall, in addition to the conditions precedent
set out in Article IV (the
satisfaction of which such LC Issuer shall have no duty to ascertain), be
subject to the conditions precedent that such Facility LC shall be satisfactory
to such LC Issuer and that the applicable Borrower or Subsidiary shall have
executed and delivered such application agreement and/or such other instruments
and agreements relating to such Facility LC as such LC Issuer shall have
reasonably requested (each, a "Facility LC
Application").  In the event of any conflict between the terms
of this Agreement and the terms of any Facility LC Application, the terms of
this Agreement shall control.

     

    2.26.4 LC
Fees.  The applicable Borrower shall pay to the Administrative
Agent, for the account of the Lenders ratably in accordance with their
respective Pro Rata Shares, with respect to each Financial Letter of Credit,
Performance Letter of Credit and Documentary Letter of Credit, a letter of
credit fee at a per annum rate equal to the Applicable Margin for such Type of
Facility LC in effect from time to time on the average daily undrawn stated
amount under such Facility LC, such fee to be payable in arrears on each Payment
Date (or, with respect to a Modification of any such Facility LC which increases
the stated amount thereof, such increase in the stated amount) thereof (each
such fee described in this sentence an "LC
Fee").  The applicable Borrower shall also pay to the
applicable LC Issuer for its own account with respect to each Facility LC (i) a
fronting fee of 0.125% per annum of the initial stated amount (or, with respect
to a Modification of any such Facility LC which increases the stated amount
thereof, such increase in the stated amount), such fee to be payable on the date
of such issuance or increase, and (ii) documentary and processing charges in
connection with the issuance or Modification of and draws under Facility LCs in
accordance with such LC Issuer's standard schedule for such charges as in effect
from time to time.

     

     

    
      
        
        

      

      
        -42-

        
          

        

      

      
        
        

      

    

    2.26.5 Administration;
Reimbursement by Lenders.  Upon receipt from the beneficiary of
any Facility LC of any demand for payment under such Facility LC, the applicable
LC Issuer shall notify the Administrative Agent, the European Administrative
Agent, or the Canadian Administrative Agent, as applicable (with a copy to the
Administrative Agent, in the case of any such notice provided by the European
Administrative Agent or the Canadian Administrative Agent), and the applicable
Borrower as to the amount demanded to be paid by such LC Issuer and the proposed
payment date.  Upon its determination to honor any such demand for
payment, the applicable LC Issuer shall promptly notify the Administrative
Agent, the European Administrative Agent, or the Canadian Administrative Agent,
as applicable, and the applicable Borrower and the Administrative Agent, the
European Administrative Agent, or the Canadian Administrative Agent, as
applicable, shall promptly notify each other Lender (with a copy to the
Administrative Agent, in the case of any such notice provided by the European
Administrative Agent or the Canadian Administrative Agent) of such determination
and of the LC Issuer's intended payment date therefor (the "LC Payment
Date").  The responsibility of such LC Issuer to the Borrowers,
the relevant Subsidiaries, and each Lender shall be only to determine that the
documents (including each demand for payment) delivered under each Facility LC
in connection with such presentment shall be in conformity in all material
respects with such Facility LC.  Each LC Issuer shall endeavor to
exercise the same care in the issuance and administration of the Facility LCs as
it does with respect to letters of credit in which no participations are granted
(or with respect to bank guaranties which are not backed by letters of credit,
as applicable), it being understood that in the absence of any gross negligence
or willful misconduct by such LC Issuer, each Lender shall be unconditionally
and irrevocably liable without regard to the occurrence of any Default or any
condition precedent whatsoever, to reimburse such LC Issuer on demand for (a)
such Lender's Pro Rata Share of the amount of each payment made by such LC
Issuer under each Facility LC (other than any Bank Guaranty), in the currency of
such Facility LC, to the extent such amount is not reimbursed by the applicable
Borrower pursuant to Section 2.26.6
below, plus (b) interest on the foregoing amount to be reimbursed by such
Lender, for each day from the date of such LC Issuer's demand for such
reimbursement (or, if such demand is made after 11:00 a.m. (Central time) in the
case of a Facility LC in US Dollars, 11:00 a.m. (Toronto time), in the case of a
Facility LC in Canadian Dollars, or 11:00 a.m. (London time) in the case of a
Facility LC in a currency other than US Dollars or Canadian Dollars, on such
date, from the next succeeding Business Day) to the date on which such Lender
pays the amount to be reimbursed by it, at a rate of interest per annum equal to
the Federal Funds Effective Rate or, in the case of an amount payable in a
currency other than Dollars, the overdraft cost or other applicable rate
determined by the European Administrative Agent or Canadian Administrative Agent
in its discretion as the appropriate rate for interbank settlements for the
first three days and, thereafter, at a rate of interest equal to the rate then
payable by the applicable Borrower on such amount.

     

    
      
        
        

      

      
        -43-

        
          

        

      

      
        
        

      

    

    2.26.6 Reimbursement by
Borrower.  Each Borrower shall be irrevocably and
unconditionally obligated to reimburse each LC Issuer on or before the
applicable LC Payment Date for any amounts to be paid by such LC Issuer upon any
drawing under any Facility LC, in the currency of such Facility LC, without
presentment, demand, protest or other formalities of any kind; provided that no
Borrower nor any Lender shall hereby be precluded from asserting any claim for
direct (but not consequential) damages suffered by such Borrower or such Lender
to the extent, but only to the extent, caused by (a) the willful misconduct or
gross negligence of any LC Issuer in determining whether a request presented
under any Facility LC issued by it complied with the terms of such Facility LC
or (b) any LC Issuer's failure to pay under any Facility LC issued by it after
the presentation to it of a request strictly complying with the terms and
conditions of such Facility LC.  All such amounts paid by any LC
Issuer and remaining unpaid by such Borrower shall bear interest, payable on
demand, for each day until paid at a rate per annum equal to (i) the rate
reasonably determined by the Administrative Agent, European Administrative
Agent, or Canadian Administrative Agent, as applicable, that would be applicable
for a Loan to such Borrower in such Applicable Currency for such day if such day
falls on or before the applicable LC Payment Date and (ii) the sum of 2% plus
the foregoing rate for such day if such day falls after such LC Payment
Date.  Each LC Issuer will pay to each Lender ratably in accordance
with its Pro Rata Share all amounts received by it from any Borrower for
application in payment, in whole or in part, of the Reimbursement Obligation in
respect of any Facility LC (other than any Bank Guaranty) issued by such LC
Issuer, but only to the extent such Lender has made payment to such LC Issuer in
respect of such Facility LC pursuant to Section 2.26.5.  Subject
to the terms and conditions of this Agreement (including without limitation the
submission of a Borrowing Notice in compliance with Section 2.8 and
the satisfaction of the applicable conditions precedent set out in Article IV), any
Borrower may request an Advance hereunder for the purpose of satisfying any
Reimbursement Obligation.

     

    2.26.7 Obligations
Absolute.  The Borrowers' obligations under this Section 2.26
shall be absolute and unconditional under any and all circumstances and
irrespective of any setoff, counterclaim or defense to payment which any
Borrower may have or have had against any LC Issuer, any Lender or any
beneficiary of a Facility LC.  The Borrowers further agree with the LC
Issuers and the Lenders that the LC Issuers and the Lenders shall not be
responsible for, and the Borrowers' Reimbursement Obligation in respect of any
Facility LC shall not be affected by, among other things, (a) the validity or
genuineness of documents or of any endorsements thereon, even if such documents
should in fact prove to be in any or all respects invalid, fraudulent or forged,
or (b) any dispute between or among any Borrowers and/or any Subsidiaries, any
of their Affiliates, the beneficiary of any Facility LC or any financing
institution or other party to whom any Facility LC may be transferred, or (c)
any claims or defenses whatsoever of any Borrower or of any of its Affiliates
against the beneficiary of any Facility LC or any such
transferee.  The LC Issuers shall not be liable for any error,
omission, interruption or delay in transmission, dispatch or delivery of any
message or advice, however transmitted, in connection with any Facility
LC.  The Borrowers agree that any action taken or omitted by any LC
Issuer or any Lender under or in connection with each Facility LC and the
related drafts and documents, if done without gross negligence or willful
misconduct, shall be binding upon the Borrowers and relevant Subsidiaries and
shall not put any LC Issuer or any Lender under any liability to any Borrower or
any Subsidiary.  Nothing in this Section 2.26.7
is intended to limit the right of any Borrower to make a claim against any LC
Issuer for damages as contemplated by the proviso to the first sentence of Section 2.26.6.

     

     

    
      
        
        

      

      
        -44-

        
          

        

      

      
        
        

      

    

    2.26.8 Actions of LC
Issuers.  Each LC Issuer shall be entitled to rely, and shall
be fully protected in relying, upon any Facility LC, draft, writing, resolution,
notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy,
telex or teletype message, statement, order or other document believed by it to
be genuine and correct and to have been signed, sent or made by the proper
Person or Persons, and upon advice and statements of legal counsel, independent
accountants and other experts selected by such LC Issuer.  Each LC
Issuer shall be fully justified in failing or refusing to take any action under
this Agreement unless it shall first have received such advice or concurrence of
the Required Lenders as it reasonably deems appropriate or it shall first be
indemnified to its reasonable satisfaction by the Lenders against any and all
liability and expense which may be incurred by it by reason of taking or
continuing to take any such action. Notwithstanding any other provision of this
Section 2.26,
each LC Issuer shall in all cases be fully protected in acting, or in refraining
from acting, under this Agreement in accordance with a request of the Required
Lenders, and such request and any action taken or failure to act pursuant
thereto shall be binding upon the Lenders and any future holders of a
participation in any Facility LC.

     

    2.26.9 Indemnification.  Each
Borrower hereby agrees to indemnify and hold harmless each Lender, each LC
Issuer, the Administrative Agent, the European Administrative Agent, and the
Canadian Administrative Agent and their respective directors, officers, agents
and employees from and against any and all claims and damages, losses,
liabilities, costs or expenses which such Lender, such LC Issuer or the
Administrative Agent, European Administrative Agent, or Canadian Administrative
Agent may incur (or which may be claimed against such Lender, such LC Issuer or
the Administrative Agent by any Person whatsoever) by reason of or in connection
with the issuance, execution and delivery or transfer of or payment or failure
to pay under any Facility LC or any actual or proposed use of any Facility LC,
including, without limitation, any claims, damages, losses, liabilities, costs
or expenses which any LC Issuer may incur by reason of or in connection with (a)
the failure of any other Lender to fulfill or comply with its obligations to
such LC Issuer hereunder (but nothing herein contained shall affect any rights
any Borrower may have against any defaulting Lender) or (b) by reason of or on
account of such LC Issuer issuing any Facility LC which specifies that the term
"Beneficiary"
included therein includes any successor by operation of law of the named
Beneficiary, but which Facility LC does not require that any drawing by any such
successor Beneficiary be accompanied by a copy of a legal document, satisfactory
to such LC Issuer, evidencing the appointment of such successor Beneficiary;
provided that
no Borrower shall be required to indemnify any Lender, any LC Issuer or the
Administrative Agent, European Administrative Agent, or Canadian Administrative
Agent for any claims, damages, losses, liabilities, costs or expenses to the
extent, but only to the extent, caused by (x) the willful misconduct or gross
negligence of such LC Issuer in determining whether a request presented under
any Facility LC complied with the terms of such Facility LC or (y) such LC
Issuer's failure to pay under any Facility LC after the presentation to it of a
request strictly complying with the terms and conditions of such Facility LC.
Nothing in this Section 2.26.9
is intended to limit the obligations of any Borrower under any other provision
of this Agreement.

     

     

    
      
        
        

      

      
        -45-

        
          

        

      

      
        
        

      

    

    2.26.10 Lenders'
Indemnification.  Each Lender shall, ratably in accordance with
its Pro Rata Share, indemnify each LC Issuer, its affiliates and their
respective directors, officers, agents and employees (to the extent not
reimbursed by the Borrowers) against any cost, expense (including reasonable
counsel fees and disbursements), claim, demand, action, loss or liability
(except such as result from such indemnitees' gross negligence or willful
misconduct or such LC Issuer's failure to pay under any Facility LC after the
presentation to it of a request strictly complying with the terms and conditions
of the Facility LC) that such indemnitees may suffer or incur in connection with
this Section 2.26 or
any action taken or omitted by such indemnitees hereunder.

     

    2.26.11 Facility LC Collateral
Account.  (a) Each Borrower agrees that it will, as provided in
clause (b) below, as provided in Section 2.2(a),
upon the occurrence of any Default described in Section 7.6 or
Section 7.7, or
upon the request of the Required Lenders (or the Administrative Agent with the
consent of the Required Lenders) upon a Default, and until the final expiration
date of any Facility LC (other than a Bank Guaranty) and thereafter as long as
any amount is payable to the LC Issuer or the Lenders in respect of any Facility
LC (other than a Bank Guaranty), maintain a special collateral account (the
"Facility LC
Collateral Account") at the Administrative Agent's office at the address
specified pursuant to Article XIII, in
the name of such Borrower but under the sole dominion and control of the
Administrative Agent, for the ratable benefit of the Lenders and the LC Issuers
and in which such Borrower shall have no interest other than as set out in Section 2.2(a)
and Section 8.1.  Each
Borrower hereby pledges, assigns and grants to the Administrative Agent, on
behalf of and for the ratable benefit of the Lenders and the LC Issuers, a
security interest in all of such Borrower's right, title and interest in and to
all funds which may from time to time be on deposit in the Facility LC
Collateral Account to secure the prompt and complete payment and performance of
the LC Obligations and LC Fees.  The Administrative Agent will invest
any funds on deposit from time to time in the Facility LC Collateral Account in
certificates of deposit or other time deposits of JPMorgan having a maturity not
exceeding 30 days.  The Parent may select the maturities of such
certificates of deposit upon reasonable prior notice to the Administrative
Agent; however, if the Parent fails to provide such notice, the Administrative
Agent shall select the applicable maturities in its sole
discretion.  Nothing in this Section 2.26.11
shall either obligate the Administrative Agent to require any Borrower to
deposit any funds in the Facility LC Collateral Account or limit the right of
the Administrative Agent to release any funds held in the Facility LC Collateral
Account in each case other than as required by Section 2.2(a),
Section 8.1, or
clause (b) below.

     

     

    
      
        
        

      

      
        -46-

        
          

        

      

      
        
        

      

    

    (b) Each
Borrower agrees that, if 45 days prior to the then-applicable Commitment
Maturity Date of any LC Issuer, the Commitment Maturity Date of such LC Issuer
has not been extended and such LC Issuer has not agreed to extend its Commitment
Maturity Date as provided in Section 2.28(b),
then, with respect to each Facility LC (other than Bank Guaranties) issued by
such LC Issuer with an expiry date later than 5 Business Days prior to the
then-applicable Commitment Maturity Date of such LC Issuer, the Borrowers shall
provide the applicable LC Issuer with a letter of credit, issued by another LC
Issuer or other issuing bank reasonably acceptable to such LC Issuer, naming
such LC Issuer as beneficiary, and otherwise reasonably acceptable to such LC
Issuer (each, such letter of credit a "Back-Up LC") in the
currency of such Letter of Credit and in an amount equal to 100% of the
outstanding LC Obligations (other than LC Obligations with respect to Bank
Guaranties) plus the amount of all LC Fees scheduled to be paid through the
expiration date of the Facility LCs, in each case, issued by such LC Issuer;
provided that
if such then-applicable Commitment Maturity Date is the Facility Termination
Date, the Borrowers shall either (i) deposit cash collateral in the Facility LC
Collateral Account or (ii) provide the applicable LC Issuer with a Back-Up LC as
described above, in each case, in the currency of such Letter of Credit and in
an amount equal to 100% of the outstanding LC Obligations (other than LC
Obligations with respect to Bank Guaranties) plus the amount of all LC Fees
scheduled to be paid through the expiration date of the Facility LCs issued by
such LC Issuer.  Neither the Borrowers nor any Person claiming on
behalf of or through the Borrowers shall have any right to withdraw any of the
funds held in the Facility LC Collateral Account.  Upon the extension
of the Commitment Maturity Date of such LC Issuer, the Administrative Agent
shall promptly release to the Borrowers all cash collateral provided by the
Borrowers, or the applicable LC Issuer(s) shall return all Back-Up LCs to the
issuing banks for cancellation, as applicable.  Upon the cancellation,
surrender, or payment of each Facility LC for which cash collateral or a Back-Up
LC was provided pursuant to this Section 2.26.11(b),
the Administrative Agent shall promptly release cash collateral to the
Borrowers, or the applicable LC Issuer shall instruct the applicable Back-Up LC
issuer to reduce the amount available to be drawn under any applicable Back-Up
LC, as applicable, in the amount of the LC Obligations (other than Bank
Guaranties) which are no longer outstanding as a result thereof, together with
the amount of all corresponding LC Fees which will no longer become payable
excluding in each case, the amounts applied by Administrative Agent under Section 8.1(c)
to satisfy any LC Fees that have become due and payable by any
Borrower.

     

    (c) The
obligations of each of the Borrowers under this Agreement and the other Loan
Documents regarding Facility LC's, including without limitation obligations
under Section 2.26,
shall survive after the Facility Termination Date and termination of this
Agreement for so long as any LC Obligations remain outstanding.  Each
Borrower further agrees that if cash collateral is required to be deposited or
any Back-up LCs are required to be provided pursuant to Section 2.26.11(b),
it will, promptly upon request of the Administrative Agent or any LC Issuer, as
applicable, enter into such agreements, in form and substance reasonably
acceptable to the Administrative Agent or such LC Issuer, as applicable, and
such Borrower as the Administrative Agent or such LC Issuer may reasonably
require to effectuate the provisions of Section 2.26.11(b)
and otherwise govern the administration of the outstanding Facility LC's and the
Facility LC Collateral Account or Back-Up LC requirements, as applicable, the
Borrowers' Reimbursement Obligations and other obligations with respect thereto,
and such other provisions as the Administrative Agent or such LC Issuer may
reasonably require, in each case, to become effective on the applicable
Commitment Maturity Date if the same is not extended.

     

    
      
        
        

      

      
        -47-

        
          

        

      

      
        
        

      

    

    2.26.12 Rights as a
Lender.  In its capacity as a Lender, each LC Issuer shall have
the same rights and obligations as any other Lender.

     

    2.26.13 Bank
Guaranties.  Each LC Issuer's agreement to issue Bank
Guaranties hereunder is conditioned upon (a) such LC Issuer's determination, in
its sole discretion, that it is able to issue a Bank Guaranty in the applicable
jurisdiction and (b) the simultaneous issuance by a LC Issuer of a Facility LC
(other than a Bank Guaranty) supporting the applicable Borrower's obligations
under such Bank Guaranty for the entire term thereof.  Any
Modification which increases or extends the amount or term of a Bank Guaranty
shall be conditioned upon a simultaneous corresponding Modification of the
Facility LC supporting such Bank Guaranty.  The applicable Borrower or
Subsidiary shall provide notice requesting the issuance or Modification, as
applicable, of any such supporting Facility LC at the same time at which such
Borrower or Subsidiary provides notice requesting the issuance or Modification,
as applicable, of the Bank Guaranty which such Facility LC supports, all in
accordance with Section 2.26.3.

     

    2.26.14 Facility LCs Issued for
Subsidiaries.  The Parent authorizes and instructs each LC
Issuer to issue Facility LCs upon request of any Subsidiary, and agrees that it
shall be jointly and severally liable with such Subsidiary
therefor.  Notwithstanding that a Facility LC issued or outstanding
hereunder is requested by or is for the account of a Subsidiary, the Parent
shall be obligated to, and shall, with respect to each such Facility LC,
reimburse the applicable LC Issuer hereunder for any and all drawings
thereunder, pay all fees and expenses payable hereunder, satisfy all
indemnification obligations payable hereunder, provide all cash collateral
required hereunder, and otherwise satisfy all obligations hereunder of the
"applicable Borrower" with respect to each such Facility LC.  The
Parent hereby acknowledges that the issuance of Facility LCs for the account of
Subsidiaries inures to the benefit of the Parent, and that the Parent's business
derives substantial benefits from the businesses of such
Subsidiaries.

     

    2.27 Increase in Aggregate
Commitment.

     

    (a) Provided
no Default or Unmatured Default exists, upon notice to the Administrative Agent,
the Parent may request one or more increases (the amount of any such increase
being a "Commitment
Increase") in the Aggregate Commitment which in the aggregate do not
exceed $415,000,000 and do not cause the Aggregate Commitment to exceed
$1,000,000,000.  The Administrative Agent shall promptly give the
Lenders (each of which, in its sole discretion, may determine whether and to
what degree to participate in such Commitment Increase) notice of such
request.  In its notice to the Administrative Agent, the Parent shall
specify the time period within which each Lender is requested to respond (which
shall not be less than 10 Business Days from the date of delivery of such notice
to the Administrative Agent).  Each Lender shall notify the
Administrative Agent within such time period whether or not it agrees to
increase its Commitment and, if so, whether by an amount equal to, greater than,
or less than its Pro Rata Share of such requested increase (any such Lender that
agrees to increase its Commitment hereunder, an "Increasing
Lender").  Any Lender not responding within such time period
shall be deemed to have declined to increase its Commitment.  No
Lender's Commitment amount shall be increased without the consent of such
Lender.  The Administrative Agent shall notify the Parent of the
Lenders' responses to each request made hereunder.  If the Increasing
Lenders agree to increase their respective Commitments by an aggregate amount in
excess of the requested Commitment Increase, the requested Commitment Increase
shall be allocated among such Increasing Lenders in proportion to their
respective Commitments immediately prior to the Increase Date.  To
achieve the full amount of a requested increase, the Borrowers may also invite
additional assignees (in accordance with and subject to the restrictions
contained in Section 12.1) to
become Lenders (any such Lender, an "Additional
Lender").  The sum of the increases in the Commitments of the
Increasing Lenders plus the Commitments of the Additional Lenders upon giving
effect to the Commitment Increase shall not in the aggregate exceed the amount
of the Commitment Increase.

     

     

    
      
        
        

      

      
        -48-

        
          

        

      

      
        
        

      

    

    (b) Any
Commitment Increase shall become effective upon (i) the receipt by the
Administrative Agent of (A) an agreement in form and substance satisfactory to
the Administrative Agent signed by the Borrowers, each Increasing Lender and
each Additional Lender, setting forth the new Commitments of each such Lender
and setting forth the agreement of each Additional Lender to become a party to
this Agreement and to be bound by all the terms and provisions hereof binding
upon each Lender, and (B) such evidence of appropriate authorization on the part
of the Borrowers with respect to the Commitment Increase and such opinions of
counsel for the Borrowers with respect to the Commitment Increase as the
Administrative Agent may reasonably request, (ii) the funding by each Increasing
Lender and Additional Lender of the Revolving Loans to be made by each such
Lender described in subsection (c) below, if applicable, and (iii) receipt by
the Administrative Agent of a certificate (the statements contained in which
shall be true) of an Authorized Officer of each Borrower certifying and
attaching the resolutions adopted by such Borrower approving or consenting to
such Commitment Increase, and stating that both before and after giving effect
to such Commitment Increase (A) no Default has occurred and is continuing, and
(B) all representations and warranties in this Agreement are true and correct in
all material respects, unless such representation or warranty relates to an
earlier date, in which case they are true and correct as of such earlier
date.  The Administrative Agent shall promptly notify the Borrowers
and the Lenders of the final allocation of any Commitment Increase and the
effective date thereof.

     

    
      (c) Upon the
effective date of any Commitment Increase, if any Advances (other than Swing
Line Loans) are then outstanding, each Increasing Lender and each Additional
Lender shall provide funds to the Administrative Agent in the manner described
in Section 2.2.  The
funds so provided by any such Lender shall be deemed to be a Revolving Loan made
by such Lender on the date of such Commitment Increase, an in an amount such
that after giving effect to such Commitment Increase and the Revolving Loans
made on the date of such Commitment Increase, each Advance outstanding hereunder
shall consist of Revolving Loans made by the Lenders ratably in accordance with
each Lender's Pro Rata Share.  Also upon giving effect to any
Commitment Increase, each Lender shall participate in any outstanding Facility
LC's (other than any Bank Guaranties) and Swing Line Loans ratably in accordance
with its Pro Rata Share.

       

    

     

    
      
        
        

      

      
        -49-

        
          

        

      

      
        
        

      

    

     

    (d) Notwithstanding
any provision contained herein to the contrary, from and after the date of any
Commitment Increase and the making of any Revolving Loans on such date pursuant
to subsection (c) above, all calculations and payments of interest on the
Advances and payment of amounts owing with respect to other Outstanding Credit
Exposure of each Lender shall take into account the actual Commitment of each
Lender and the principal amount outstanding of each Revolving Loan made by such
Lender during the relevant period of time.

     

    (e) The
Aggregate Commitments may be increased in accordance with, and to the extent
permitted by, this Section 2.27,
without the consent of the requisite Lenders otherwise required under Section 8.2.

     

    2.28 Extension of Facility
Termination Date.

     

    (a) Requests for
Extension.  The Parent may, on behalf of all Borrowers, by
notice to the Administrative Agent (who shall promptly notify the Lenders) not
earlier than 90 days and not later than 60 days prior to any Anniversary Date,
request that each Lender extend such Lender's Commitment Maturity Date for an
additional one year from such Lender's Commitment Maturity Date then in
effect.  The Parent may not request more than three such extensions
pursuant to this Section 2.28.

     

    (b) Lender Elections to
Extend.  If the Parent makes the request in clause (a) above,
each Lender, acting in its sole and individual discretion, shall, by notice to
the Administrative Agent given not earlier than 60 days prior to the applicable
Anniversary Date and not later than the date that is 45 days prior to the
applicable Anniversary Date (the "Notice Date"), advise
the Administrative Agent whether or not such Lender agrees to such extension.
Each Lender that decides not to extend its Commitment Maturity Date (each, a
"Non-Extending
Lender") and each Lender that decides to extend its Commitment Maturity
Date (each, an "Extending Lender")
shall notify the Administrative Agent of such decision promptly after such
determination (but in any event no later than the Notice Date), and any Lender
that does not otherwise advise the Administrative Agent on or before the Notice
Date shall be deemed to be a Non-Extending Lender.  The election of
any Lender to agree to such extension pursuant to this Section 2.28
shall not obligate any other Lender to so agree.

     

     

    
      
        
        

      

      
        -50-

        
          

        

      

      
        
        

      

    

    (c) Notification by
Administrative Agent.  The Administrative Agent shall notify
the Parent of each Lender's determination under this Section at least 40
days prior to the applicable Anniversary Date (or, if such date is not a
Business Day, on the immediately preceding Business Day).

     

    (d) Additional Commitment
Lenders.  The Borrowers shall have the right, at any time on or
before the date which is 30 days after the applicable Anniversary Date, to
replace each Non-Extending Lender with, and add as "Lenders" under this
Agreement in place thereof, one or more assignees (in accordance with and
subject to the restrictions contained in Section 12.1)
who shall agree to become Extending Lenders (each, an "Additional Commitment
Lender") as provided in Section 2.25,
each of which Additional Commitment Lenders shall have entered into an
assignment agreement substantially in the form of Exhibit C pursuant to
which such Additional Commitment Lender shall, effective at any time prior to
the date which is 30 days after the applicable Anniversary Date, undertake a
Commitment (and, if any such Additional Commitment Lender is already a Lender,
its Commitment shall be in addition to such Lender's Commitment hereunder on
such date).  Notwithstanding any provision contained herein to the
contrary, from and after the date of any extension of any Commitment Maturity
Date and the prepayment of any Revolving Loans on the applicable Anniversary
Date pursuant to Section 2.25 and
subsection (f) below, all calculations and payments of interest on the Advances
and payment of amounts owing with respect to other Outstanding Credit Exposure
of each Lender shall take into account the actual Commitment of each Lender and
the principal amount outstanding of each Revolving Loan made by such Lender
during the relevant period of time.

     

    (e) Minimum Extension
Requirement.  If (and only if) the total of the Commitments of
the Lenders that have agreed to extend their respective Commitment Maturity
Dates and the additional Commitments of the Additional Commitment Lenders that
have entered into an assignment agreement as provided in subsection (d) above
shall equal or exceed 51% of the aggregate amount of the Commitments in effect
immediately prior to the applicable Anniversary Date, then, effective as of the
applicable Anniversary Date, the Commitment Maturity Date of each Extending
Lender and of each such Additional Commitment Lender shall be extended to the
date that is one year after such Lender's Commitment Maturity Date then in
effect (except that, if such date is not a Business Day, such Commitment
Maturity Date as so extended shall be the immediately preceding Business Day)
and each such Additional Commitment Lender shall thereupon become a "Lender" for all
purposes of this Agreement.  Such extension shall constitute an
extension of the Facility Termination Date for all purposes of this
Agreement.  If any Additional Commitment Lender enters into an
assignment agreement as provided in subsection (d) above after the applicable
Anniversary Date (but in any event within 30 days after such date), then,
effective as of the applicable effective date of such assignment (the "Assignment Date"),
the Commitment Maturity Date of each such Additional Commitment Lender shall be
the date that is one year after the Commitment Maturity Date then in effect for
the Non-Extending Lender being replaced by the applicable Additional Commitment
Lender (except that, if such date is not a Business Day, such Commitment
Maturity Date as so extended shall be the immediately preceding Business Day)
and each such Additional Commitment Lender shall thereupon become a "Lender" for all
purposes of this Agreement.  Each Non-Extending Lender shall maintain
its respective original Commitment Maturity Date, unless such Non-Extending
Lender is replaced by an assignee as provided herein.

     

     

    
      
        
        

      

      
        -51-

        
          

        

      

      
        
        

      

    

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

     

    (i) no
Default or Unmatured Default shall have occurred and be continuing on the
applicable Anniversary Date or Assignment Date, as applicable, and after giving
effect to any extension granted under this Section;

     

    (ii) the
representations and warranties contained in this Agreement are true and correct
on and as of the applicable Anniversary Date or Assignment Date, as applicable,
and after giving effect thereto, as though made on and as the applicable
Anniversary Date or Assignment Date, as applicable (or, if any such
representation or warranty is expressly stated to have been made as of a
specific date, as of such specific date); and

     

    (iii) on the
applicable Anniversary Date or Assignment Date, as applicable, the Borrowers
shall prepay any Revolving Loans outstanding on such date (and pay any
additional amounts required pursuant to Section 3.4) to
the extent necessary to keep outstanding Revolving Loans ratable with any
revised Pro Rata Shares of the respective Lenders effective as of such
date.  In addition, upon giving effect to any revision of Pro Rata
Shares pursuant to this Section 2.28,
each Lender shall participate in any outstanding Facility LC's (other than any
Bank Guaranties) and Swing Line Loans ratably in accordance with its Pro Rata
Share.

     

    ARTICLE
III

    YIELD
PROTECTION; TAXES

     

    3.1 Yield
Protection.  (a) If any Change in Law:

     

    (i) subjects
any Lender or any applicable Lending Installation or any LC Issuer to any Taxes,
or changes the basis of taxation of payments (other than with respect to
Excluded Taxes) to any Lender or any LC Issuer in respect of its Eurocurrency
Loans, Facility LCs or participations therein, or

     

    
      
        
        

      

      
        -52-

        
          

        

      

      
        
        

      

    

    (ii) imposes
or increases or deems applicable any reserve, assessment, insurance charge,
special deposit or similar requirement against assets of, deposits with or for
the account of, or credit extended by, any Lender or any applicable Lending
Installation or any LC Issuer (other than (A) reserves and assessments taken
into account in determining the interest rate applicable to Eurocurrency
Advances and (B) the requirements of the Bank of England and the Financial
Services Authority or the European Central Bank reflected in the Mandatory Cost,
other than as set forth below),

     

    (iii) results
in the Mandatory Cost, as calculated hereunder, not representing the cost to any
Lender of complying with the requirements of the Bank of England and/or the
Financial Services Authority or the European Central Bank in relation to its
making, funding or maintaining Eurocurrency Rate Loans; or

     

    (iv) imposes
any other condition the result of which is to increase the cost to any Lender or
any applicable Lending Installation or any LC Issuer of making, funding or
maintaining its Eurocurrency Loans or Commitment, or of issuing or participating
in Facility LCs, (including, without limitation, any conversion of any Loan
denominated in an Agreed Currency other than Euro into a Loan denominated in
Euro), or reduces any amount receivable by any Lender or any applicable Lending
Installation or any LC Issuer in connection with its Eurocurrency Loans,
Facility LCs or participations therein, or requires any Lender or any applicable
Lending Installation or any LC Issuer to make any payment calculated by
reference to the amount of Eurocurrency Loans, Facility LCs or participations
therein held or interest or LCs Fees received by it, by an amount deemed
material by such Lender or such LC Issuer as the case may be,

     

    and the
result of any of the foregoing is to increase the cost to such Lender or
applicable Lending Installation or such LC Issuer, as the case may be, of making
or maintaining its Eurocurrency Loans (including, without limitation, any
conversion of any Loan denominated in an Agreed Currency other than Euro into a
Loan denominated in Euro) or Commitment or of issuing or participating in
Facility LCs or to reduce the return received by such Lender or applicable
Lending Installation or such LC Issuer, as the case may be, in connection with
such Eurocurrency Loans, Commitment, Facility Fees or participations therein,
then, within 15 days of demand by such Lender or such LC Issuer, as the case may
be, the Borrowers shall pay such Lender or such LC Issuer, as the case may be,
such additional amount or amounts as will compensate such Lender or such LC
Issuer, as the case may be, for the actual increased cost or reduction in amount
received.

     

     

    
      
        
        

      

      
        -53-

        
          

        

      

      
        
        

      

    

    (b) If any
law or any governmental or quasi governmental rule, regulation, policy,
guideline or directive of any jurisdiction outside of the United States of
America or any subdivision thereof (whether or not having the force of law),
imposes or deems applicable any reserve requirement against or fee with respect
to assets of, deposits with or for the account of, or credit extended by, any
Lender or any applicable Lending Installation, or any LC Issuer, and the result
of the foregoing is to increase the cost to such Lender or applicable Lending
Installation or such LC Issuer of making or maintaining its Eurocurrency Loans
to, or of issuing or participating in Facility LCs upon the request of, or of
making or maintaining its Commitment to, any Borrower that is not incorporated
under the laws of the United States of America or a state thereof (each a "Non-U.S. Borrower")
or to reduce the return received by such Lender or applicable Lending
Installation or such LC Issuer in connection with such Eurocurrency Loans to,
Facility LCs applied for by, or Commitment to any Non-U.S. Borrower, then,
within 15 days of demand by such Lender, or such LC Issuer, as the case may be,
such Non-U.S. Borrower shall pay such Lender, or such LC Issuer, as the case may
be, such additional amount or amounts as will compensate it for such increased
cost or reduction in amount received, provided that such
Non-U.S. Borrower shall not be required to compensate any Lender for such
non-U.S. reserve costs or fees to the extent that an amount equal to such
reserve costs or fees is received by such Lender as a result of the calculation
of the interest rate applicable to Eurocurrency Advances pursuant to clause
(a)(ii) of the definition of "Eurocurrency
Rate."

    
       

      
        3.2 Changes in Capital Adequacy
Regulations.  (a) If any Lender or the LC Issuer 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 LC Issuer's
capital or on the capital of such Lender's or the LC Issuer's holding company,
if any, as a consequence of this Agreement or the Loans made by, or
participations in Facility LCs held by, such Lender, or the Facility LCs issued
by the LC Issuer, to a level below that which such Lender or the LC Issuer or
such Lender's or the LC Issuer's holding company could have achieved but for
such Change in Law (taking into consideration such Lender's or the LC Issuer's
policies and the policies of such Lender's or the LC Issuer's holding company
with respect to capital adequacy), then from time to time the Borrowers shall,
within 15 days of demand by such Lender or LC Issuer, as the case may be, pay to
such Lender or the LC Issuer, as the case may be, such additional amount or
amounts as will compensate such Lender or the LC Issuer or such Lender's or the
LC Issuer's holding company for any such reduction suffered.

         

      

       

       

      
        
          
          

        

        
          -54-

          
            

          

        

        
          
          

        

      

    

     

    (b) Failure
or delay on the part of any Lender or the LC Issuer to demand compensation
pursuant to this Section or Section 3.1
shall not constitute a waiver of such Lender's or the LC Issuer's right to
demand such compensation; provided that the
Borrowers shall not be required to compensate a Lender or the LC Issuer pursuant
to this Section for any increased costs or reductions incurred more than 180
days prior to the date that such Lender or the LC Issuer, as the case may be,
notifies the Borrower of the Change in Law giving rise to such increased costs
or reductions and of such Lender's or the LC Issuer's intention to claim
compensation therefor; provided further that, if the
Change in Law 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.

     

    3.3 Availability of Types of
Advances.  If any Lender determines that maintenance of its
Eurocurrency Loans at a suitable Lending Installation would violate any
applicable law, rule, regulation, or directive, whether or not having the force
of law, or if (a) the Administrative Agent determines (which determination shall
be conclusive absent manifest error) that adequate and reasonable means do not
exist for ascertaining the Eurocurrency Rate or the Eurocurrency Reference Rate,
as applicable, or (b)
the Administrative Agent is advised by the Required Lenders that the interest
rate applicable to Eurocurrency Advances does not accurately reflect the cost of
making or maintaining Eurocurrency Advances, then the Administrative Agent shall
suspend the availability of Eurocurrency Advances and require any affected
Eurocurrency Advances to be repaid or converted to Floating Rate Advances,
subject to the payment of any funding indemnification amounts required by Section 3.4.  If
the Administrative Agent suspends the availability of Eurocurrency Advances
under this Section 3.3, the
availability of Eurocurrency Advances shall be reinstated upon, as applicable
(i) the replacement of the Lender (or Lenders) which determined that maintenance
of its Eurocurrency Loans at a suitable Lending Installation would violate any
applicable law, rule, regulation, or directive, or (ii) the Required Lenders
determine that the circumstances giving rise to such notice no longer
exist.

     

    3.4 Funding
Indemnification.  If (a) any payment or conversion of a
Eurocurrency Advance or any payment of an Offered Rate Advance occurs on a date
which is not the last day of the applicable Interest Period, whether because of
acceleration, prepayment or otherwise, (b) a Eurocurrency Advance or an
Offered Rate Advance or prepayment of a Eurocurrency Advance or an Offered Rate
Advance is not made, converted, prepaid, or paid on the date specified by the
applicable Borrower for any reason other than default by the Lenders, or
(c) the assignment of any Eurocurrency Advance or Offered Rate Advance
occurs on a date which is not the last day of the applicable Interest Period as
a result of a request by the Parent pursuant to Section 2.25 or
as a result of an assignment of all or any portion of the Commitment (EDC
Permitted Borrowers) at a time when Revolving Loans are outstanding to any
Borrower that is not an EDC Permitted Borrower, each of the Borrowers will
indemnify each Lender for any loss or cost incurred by it resulting therefrom,
including, without limitation, any actual loss or cost in liquidating or
employing deposits acquired to fund or maintain such Eurocurrency
Advance.

     

    3.5 Taxes.  (a)
All payments by the Borrowers to or for the account of any Lender, any LC
Issuer, the Administrative Agent, the European Administrative Agent, or the
Canadian Administrative Agent hereunder or under any Note or LC Application
shall be made free and clear of and without deduction for any Indemnified Taxes
or Other Taxes.  If any Borrower shall be required by law to deduct
any Indemnified Taxes or Other Taxes from or in respect of any sum payable
hereunder to any Lender, any LC Issuer, the Administrative Agent, the European
Administrative Agent, or the Canadian Administrative Agent, 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 3.5)
such Lender, such LC Issuer, the Administrative Agent, the European
Administrative Agent, or the Canadian Administrative Agent (as the case may be)
receives an amount equal to the sum it would have received had no such
deductions been made, (ii) such Borrower shall make such deductions, (iii) such
Borrower shall pay the full amount deducted to the relevant authority in
accordance with applicable law and (iv) such Borrower shall furnish to the
Administrative Agent the original copy of a receipt evidencing payment thereof
within 30 days after such payment is made.

     

     

    
      
        
        

      

      
        -55-

        
          

        

      

      
        
        

      

    

    (b) In
addition, each Borrower hereby agrees to pay to the relevant Governmental
Authority in accordance with applicable law 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 other Loan
Document or from the execution, delivery or enforcement of, or otherwise with
respect to, this Agreement or any other Loan Document ("Other
Taxes").

     

    (c) Each
Borrower hereby agrees to indemnify the Administrative Agent, the European
Administrative Agent, the Canadian Administrative Agent, each Lender, and each
LC Issuer for the full amount of Indemnified Taxes or Other Taxes (including,
without limitation, any Indemnified Taxes or Other Taxes imposed or asserted on
or attributable to amounts payable under this Section 3.5)
paid by the Administrative Agent, the European Administrative Agent, the
Canadian Administrative Agent, such Lender, or such LC Issuer and any liability
(including penalties, interest and expenses) arising therefrom or with respect
thereto.  Payments due under this indemnification shall be made within
30 days of the date the Administrative Agent, such Lender, or such LC Issuer
makes demand therefor pursuant to Section 3.6.

     

    (d) As soon
as practicable after any payment of Indemnified Taxes or Other Taxes by a
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) Each
Lender that is not incorporated under the laws of the United States of America
or a state thereof (each a "Non-U.S. Lender")
agrees that it will, on or prior to the date it becomes a Lender under this
Agreement, deliver to each of the Borrowers and the Administrative Agent two (or
such other number of copies as shall be requested) of whichever of the following
is applicable:

     

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

     

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

     

    (iii) in the
case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio
interest under Section 881(c) of the Code, (x) a certificate to the effect that
such Non-U.S. Lender is not (A) a "bank" within the meaning of
Section 881(c)(3)(A) of the Code, (B) a "10 percent shareholder" of
the Parent or any Borrower within the meaning of Section 881(c)(3)(B) of
the Code, or (C) a "controlled foreign corporation" described in Section
881(c)(3)(C) of the Code and (y) duly completed copies of Internal Revenue
Service Form W-8 BEN or,

     

     

    
      
        
        

      

      
        -56-

        
          

        

      

      
        
        

      

    

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

     

    Each
Non-U.S. Lender further undertakes to deliver to each of the Borrowers and the
Administrative Agent (A) renewals or additional copies of such form (or any
successor form) on or before the date that such form expires or becomes
obsolete, and (B) after the occurrence of any event requiring a change in the
most recent forms so delivered by it, such additional forms or amendments
thereto as may be reasonably requested by any Borrower or the Administrative
Agent.  All forms or amendments described in the preceding sentence
shall certify that such Lender is entitled to receive payments under this
Agreement without deduction or withholding of any United States federal income
taxes, unless an event (including without limitation any change in treaty, law
or regulation) has occurred prior to the date on which any such delivery would
otherwise be required which renders all such forms inapplicable or which would
prevent such Lender from duly completing and delivering any such form or
amendment with respect to it and such Lender advises the Borrowers and the
Administrative Agent that it is not capable of receiving payments without any
deduction or withholding of United States federal income tax.

     

    (f) For any
period during which a Non-U.S. Lender has failed to provide the Borrowers with
an appropriate form pursuant to clause (e), above (unless such failure is due to
a Change in Law occurring subsequent to the date on which a form originally was
required to be provided), such Non-U.S. Lender shall not be entitled to
indemnification under this Section 3.5 with
respect to Taxes imposed by the United States; provided that, should
a Non-U.S. Lender which is otherwise exempt from or subject to a reduced rate of
withholding tax become subject to Taxes because of its failure to deliver a form
required under clause (iv), above, the Borrowers shall take such steps as such
Non-U.S. Lender shall reasonably request to assist such Non-U.S. Lender to
recover such Taxes.

     

    (g) Any
Lender or any LC Issuer entitled to an exemption from or reduction of
withholding tax with respect to payments under this Agreement or any Note or LC
Application pursuant to the law of any relevant jurisdiction or any treaty shall
deliver to the Borrowers (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 as will permit such payments to be
made without withholding or at a reduced rate.

     

    (h) If the
U.S. Internal Revenue Service or any other Governmental Authority of the United
States or any other country or any political subdivision thereof asserts a claim
that the Administrative Agent, the European Administrative Agent, or the
Canadian Administrative Agent did not properly withhold tax from amounts paid to
or for the account of any Lender (because the appropriate form was not delivered
or properly completed, because such Lender failed to notify the Administrative
Agent of a change in circumstances which rendered its exemption from withholding
ineffective, or for any other reason), such Lender shall indemnify the
Administrative Agent, the European Administrative Agent, or the Canadian
Administrative Agent fully for all amounts paid, directly or indirectly, by the
Administrative Agent, the European Administrative Agent, or the Canadian
Administrative Agent as tax, withholding therefor, or otherwise, including
penalties and interest, and including taxes imposed by any jurisdiction on
amounts payable to the Administrative Agent, the European Administrative Agent,
or the Canadian Administrative Agent under this subsection, together with all
costs and expenses related thereto (including attorneys fees and time charges of
attorneys for the Administrative Agent, the European Administrative Agent, or
the Canadian Administrative Agent, which attorneys may be employees of the
Administrative Agent).  The obligations of the Lenders under this
Section 3.5(h)
shall survive the payment of the Obligations and termination of this
Agreement.

     

     

    
      
        
        

      

      
        -57-

        
          

        

      

      
        
        

      

    

    (i) If the
Administrative Agent, the European Administrative Agent, or the Canadian
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 a Borrower or with respect to which a Borrower has paid
additional amounts pursuant to this Section 3.5, it shall
pay over such refund to such Borrower (but only to the extent of indemnity
payments made, or additional amounts paid, by the Borrower under this Section 3.5 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 each
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, the European Administrative Agent, the Canadian
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, the
European Administrative Agent, the Canadian 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.

     

    3.6 Lender Statements; Survival
of Indemnity.  To the extent reasonably possible, each Lender
shall designate an alternate Lending Installation with respect to its
Eurocurrency Loans to reduce any liability of any Borrower to such Lender under
Sections 3.1,
3.2 and 3.5 or to avoid the
unavailability of Eurocurrency Advances under Section 3.3, so
long as such designation is not, in the judgment of such Lender, disadvantageous
to such Lender.  Each Lender shall deliver a written statement of such
Lender to the Borrowers (with a copy to the Administrative Agent) as to the
amount due, if any, under Section 3.1,
3.2, 3.4 or 3.5.  Such
written statement shall set out in reasonable detail the calculations upon which
such Lender determined such amount and shall be final, conclusive and binding on
the Borrowers in the absence of manifest error.  Determination of
amounts payable under such Sections in connection with a Eurocurrency Loan
shall be calculated as though each Lender funded its Eurocurrency Loan through
the purchase of a deposit of the type, currency and maturity corresponding to
the deposit used as a reference in determining the Eurocurrency Rate applicable
to such Loan, whether in fact that is the case or not.  Unless
otherwise provided herein, the amount specified in the written statement of any
Lender shall be payable on demand after receipt by the Borrowers of such written
statement.  The obligations of each of the Borrowers under Sections 3.1,
3.2, 3.4 and 3.5 shall survive
payment of the Obligations and termination of this Agreement.

     

    
      
        
        

      

      
        -58-

        
          

        

      

      
        
        

      

    

    ARTICLE
IV

    CONDITIONS
PRECEDENT

     

    4.1 Initial Credit
Extensions.  The Lenders shall not be required to make the
initial Credit Extensions hereunder unless, prior to or concurrently with the
making of such initial Credit Extensions, the following conditions precedent
have been satisfied:

     

    4.1.1 Closing
Documents.  The Administrative Agent shall have received on or
before the Closing Date the following, each dated such date (unless otherwise
specified) and duly executed by the respective party or parties thereto, in form
and substance satisfactory to the Administrative Agent and the Lenders, and
(except for the Notes) with sufficient copies for the Administrative Agent and
each Lender:

     

    (a) Copies of
the Parent's (i) certificate of incorporation, together with all amendments, and
a certificate of good standing, each certified by the appropriate governmental
officer in its jurisdiction of incorporation, (ii) bylaws, certified by the
Secretary or Assistant Secretary of the Parent, (iii) Board of Directors'
resolutions and of resolutions or actions of any other body authorizing the
execution of the Loan Documents to which the Parent is a party, (iv) an
incumbency certificate, executed by the Secretary or Assistant Secretary of the
Parent, which shall identify by name and title and bear the signatures of the
Authorized Officers and any other officers of the Parent authorized to sign the
Loan Documents to which the Parent is 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 Parent, and (v) any other information required by
Section 326 of the USA Patriot Act or deemed necessary for the
Administrative Agent or any Lender to verify the identity of Parent as required
by Section 326 of the USA Patriot Act.

     

    (b) Copies of
each Borrowing Subsidiary's (i) organizational documents, together with all
amendments, and a certificate of good standing (if applicable), each certified
by the appropriate governmental officer in its jurisdiction of incorporation,
(ii) bylaws, certified by the Secretary, Assistant Secretary, director or other
appropriate official of such Borrowing Subsidiary, (iii) resolutions or actions
authorizing the execution of the Loan Documents to which such Borrowing
Subsidiary is a party, (iv) an incumbency certificate, executed by the Secretary
or Assistant Secretary, director or other appropriate official of each Borrowing
Subsidiary, which shall identify by name and title and bear the signatures of
the Authorized Officers and any other officers of each such Borrowing Subsidiary
authorized to sign the Loan Documents to which such Borrowing Subsidiary is 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 applicable
Borrowing Subsidiary, and (v) any other information required by Section 326
of the USA Patriot Act or deemed necessary for the Administrative Agent or any
Lender to verify the identity of such Borrowing Subsidiary, as required by
Section 326 of the USA Patriot Act.

     

    
      
        
        

      

      
        -59-

        
          

        

      

      
        
        

      

    

    (c) A
certificate, signed by the chief financial officer of the Parent, stating that
on the Closing Date (i) no Default or Unmatured Default has occurred and is
continuing, (ii) each of the representations and warranties set out in Article V of
this Agreement is true and correct on and as of the Closing Date, (iii) there
has occurred no material adverse change in the consolidated financial condition
of the Parent from that reflected in the Parent's consolidated financial
statements as of December 31, 2007, and (iv) since December 31, 2007, there has
been no change in the business, Property, prospects, condition (financial or
otherwise) or results of operations of the Parent and its Subsidiaries which
could reasonably be expected to have a Material Adverse Effect.

     

    (d) A written
opinion of the general counsel of the Parent, addressed to the Administrative
Agent and the Lenders in substantially the form of Exhibit
A-1.

     

    (e) A written
opinion of the outside counsel to the Parent and the Borrowing Subsidiaries,
addressed to the Administrative Agent and the Lenders in substantially the form
of Exhibit
A-2.

     

    (f) Any Notes
requested by a Lender pursuant to Section 2.16
payable to the order of each such requesting Lender.

     

    (g) Written
money transfer instructions, in substantially the form of Exhibit D, addressed
to the Administrative Agent and signed by an Authorized Officer, together with
such other related money transfer authorizations as the Administrative Agent may
have reasonably requested.

     

    (h) This
Agreement, and all its attached Exhibits and Schedules.

     

    (i) The
Guaranty.

     

    (j) If the
initial Credit Extension will be the issuance of a Facility LC, a properly
completed Facility LC Application.

     

    (k) Such
other documents as any Lender or its counsel may have reasonably
requested.

     

    
      4.1.2 Fees.

       

      (a) All fees,
costs, and expenses of JPMorgan and its affiliates (including, without
limitation, legal fees and expenses of counsel to the Administrative Agent) to
be paid on the Closing Date shall have been paid, or arrangements acceptable to
JPMorgan shall have been made for the payment thereof.

       

      (b) The
Parent shall have paid to the Administrative Agent and the Arranger, for their
respective accounts, the fees agreed to pursuant to the terms of the Fee Letter,
or as otherwise agreed from time to time.

    

     

     

    
      
        
        

      

      
        -60-

        
          

        

      

      
        
        

      

    

     

    4.2 Each Credit
Extension.  The Lenders shall not (except as otherwise set out
in Section 2.5.1
and Section 2.5.2
with respect to Revolving Loans for the purpose of repaying Swing Line Loans) be
required to make any Credit Extension unless on the applicable Credit Extension
Date:

     

    (a) There
exists no Default or Unmatured Default.

     

    (b) The
representations and warranties contained in Article V are
true and correct as of such Credit Extension Date except to the extent any such
representation or warranty is stated to relate solely to an earlier date, in
which case such representation or warranty shall have been true and correct on
and as of such earlier date.

     

    With
respect to any Borrower that is not a Material Subsidiary, the Lenders shall not
(except as otherwise set out in Section 2.5.1
and Section 2.5.2
with respect to Revolving Loans for the purpose of repaying Swing Line Loans) be
required to make any Credit Extension with respect to such Borrower if, on the
applicable Credit Extension Date, a Default or Unmatured Default would exist if
such Borrower were a Material Subsidiary; provided that any
such circumstance that would not otherwise constitute a Default or Unmatured
Default under this Agreement shall not be deemed to be a Default or Unmatured
Default or affect the Lenders' Commitment to make Credit Extensions to the other
Borrowers under this Agreement solely as a result of this
paragraph.

     

    Each
Borrowing Notice, Swing Line Borrowing Notice, or request for issuance of a
Facility LC, as the case may be, with respect to each such Credit Extension
shall constitute a representation and warranty by the Borrowers that the
conditions contained in the preceding paragraph and Sections 4.2(a)
and (b) have
been satisfied.  As a condition to making a Credit Extension, the
Administrative Agent may require the applicable Borrower to deliver a
certificate from an Authorized Officer of the Parent, certifying that such
officer (a) has reviewed the terms of this Agreement and (b) has no knowledge of
the existence of any condition or event which constitutes (or would constitute,
if the applicable Borrower were a Material Subsidiary) a Default or Unmatured
Default as of the date of such certificate.

     

    ARTICLE
V

    REPRESENTATIONS
AND WARRANTIES

     

    The
Borrowers represent and warrant to the Lenders that:

     

    
      5.1 Existence and
Standing.  Each of the Borrowers 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 or
organization and has all requisite authority to conduct its business in each
jurisdiction in which its business is conducted.  Each of the
Borrowers and each of the Subsidiaries is duly qualified and in good standing
(to the extent applicable) as a foreign corporation or other business entity and
is duly authorized to conduct its business in each jurisdiction in which its
business is conducted or proposed to be conducted except where the failure to
qualify may not reasonably be expected to have a Material Adverse
Effect.

       

    

     

     

    
      
        
        

      

      
        -61-

        
          

        

      

      
        
        

      

    

    5.2 Authorization and
Validity.  Each of the Borrowers has the power and authority
and legal right to execute and deliver the Loan Documents to which it is a party
and to perform its obligations thereunder.  The execution and delivery
by the Borrowers of the Loan Documents to which it is a party and the
performance of its obligations thereunder have been duly authorized by proper
corporate proceedings, and the Loan Documents to which each of the Borrowers is
a party constitute legal, valid and binding obligations of each of the Borrowers
enforceable against each of such Borrowers in accordance with their terms,
except as enforceability may be limited by bankruptcy, insolvency or similar
laws affecting the enforcement of creditors' rights generally.

     

    5.3 No Conflict; Government
Consent.  Neither the execution and delivery by each of the
Borrowers of the Loan Documents to which it is a party, nor the consummation of
the transactions therein contemplated, nor compliance with the provisions
thereof will violate (a) any law, rule, regulation, order, writ, judgment,
injunction, decree or award binding on any Borrower or any of their respective
Subsidiaries or (b) any Borrower's or any of their Subsidiaries' articles or
certificate of incorporation, partnership agreement, certificate of partnership,
articles or certificate of organization, by laws, or operating or other
management agreement, as the case may be, or (c) the provisions of any
indenture, instrument or agreement to which any of the Borrowers or any of their
respective Subsidiaries is a party or is subject, or by which it, or its
Property, is bound, or conflict with or constitute a default thereunder, or
result in, or require, the creation or imposition of any Lien in, of or on the
Property of any Borrower or a Subsidiary pursuant to the terms of any such
indenture, instrument or agreement.  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 the Borrowers or any of their Subsidiaries, is required to
be obtained by any Borrower or any of their Subsidiaries in connection with the
execution and delivery of the Loan Documents, the borrowings under this
Agreement, the payment and performance by the Borrowers of the Obligations or
the legality, validity, binding effect or enforceability of any of the Loan
Documents.

     

    5.4 Financial
Statements.  The December 31, 2007 consolidated financial
statements of the Parent and its Subsidiaries heretofore delivered to the
Lenders were prepared in accordance with generally accepted accounting
principles in effect on the date such statements were prepared and fairly
present in accordance with generally accepted accounting principles the
consolidated financial condition and operations of the Parent and its
Subsidiaries at such date and the consolidated results of their operations for
the period then ended.

     

    
      
        
        

      

      
        -62-

        
          

        

      

      
        
        

      

    

    5.5 Taxes.  The
Parent and its Subsidiaries have filed all United States federal tax returns and
all other tax returns which are required to be filed and have paid all taxes due
pursuant to said returns or pursuant to any assessment received by the Parent or
any of its Subsidiaries, except such taxes, if any, as are being contested in
good faith and as to which adequate reserves have been provided in accordance
with Agreement Accounting Principles and as to which no Lien
exists.  The United States income tax returns of the Parent and its
Subsidiaries have been audited by the Internal Revenue Service (or the
applicable statute of limitations has expired) through the years ending December
31, 2004.  No tax liens have been filed and no claims are being
asserted with respect to any such taxes.  The charges, accruals and
reserves on the books of the Parent and its Subsidiaries in respect of any taxes
or other governmental charges are adequate.

     

    5.6 Litigation and Contingent
Obligations.  There is no litigation, arbitration, governmental
investigation, proceeding or inquiry pending or, to the knowledge of any of
their officers, threatened against or affecting the Parent or any of its
Subsidiaries which could reasonably be expected to have a Material Adverse
Effect or which seeks to prevent, enjoin or delay the making of any Credit
Extensions.  Other than any liability incident to any litigation,
arbitration or proceeding which could not reasonably be expected to have a
Material Adverse Effect, the Parent has no material contingent obligations not
provided for or disclosed in the financial statements referred to in Section 5.4.

     

    5.7 Subsidiaries.  Schedule 2 contains
an accurate list of all Subsidiaries of the Parent as of the date of this
Agreement, setting forth their respective jurisdictions of organization and the
percentage of their respective capital stock or other ownership interests owned
by the Parent or other Subsidiaries.  Each Borrowing Subsidiary is a
Wholly-Owned Subsidiary, all of the issued and outstanding shares of capital
stock of which is owned by the Parent or one of its Wholly-Owned
Subsidiaries.  All of the issued and outstanding shares of capital
stock of each Subsidiary or other ownership interests of such Subsidiaries have
been (to the extent such concepts are relevant with respect to such ownership
interests) duly authorized and issued and are fully paid and non assessable, and
are free and clear of all Liens.  No authorized but unissued or
treasury shares of capital stock of any Subsidiary are subject to any option,
warrant, right to call, or commitment of any kind or
character.  Except as set out on Schedule 2, no
Subsidiary has any outstanding stock or securities convertible into or
exchangeable for any shares of its capital stock, or any right issued to any
Person (either preemptive or other) to subscribe for or to purchase, or any
options for the purchase of, or any agreements providing for the issuance
(contingent or otherwise) of, or any calls, commitments, or claims of any
character relating to any of its capital stock or any stock or securities
convertible into or exchangeable for any of its capital stock other than as
expressly set out in the certificate or articles of incorporation or other
charter document of the Parent or such Subsidiary.

     

    5.8 ERISA.  The
Unfunded Liabilities of all Single Employer Plans do not in the aggregate exceed
$50,000,000.  Neither the Parent nor any other member of the
Controlled Group has incurred, or is reasonably expected by the Parent to incur,
any withdrawal liability to Multiemployer Plans.  Each Plan complies
in all material respects with all applicable requirements of law and
regulations, no material Reportable Event has occurred with respect to any Plan,
neither the Parent nor any other member of the Controlled Group has withdrawn
from any Multiemployer Plan or initiated steps to do so, and no steps have been
taken to reorganize or terminate any Single Employer Plan other than the
Terminating Plan.

     

    
      
        
        

      

      
        -63-

        
          

        

      

      
        
        

      

    

    
       

      5.9 Accuracy of
Information.  No information, exhibit or report furnished by
the Parent or any of its Subsidiaries to the Administrative Agent or to any
Lender in connection with the negotiation of, or compliance with, the Loan
Documents contained any material misstatement of fact or omitted to state a
material fact or any fact necessary to make the statements contained therein not
misleading.

    

     

    5.10 Regulation
U.  Margin stock (as defined in Regulation U) constitutes less
than 25% of the value of those assets of the Parent and its Subsidiaries which
are subject to any limitation on sale, pledge, or other restriction
hereunder.

     

    5.11 Material
Agreements.  Neither the Parent nor any Subsidiary is a party
to any agreement or instrument or subject to any charter or other corporate
restriction which could reasonably be expected to have a Material Adverse
Effect.  Neither the Parent nor any Subsidiary is in default in the
performance, observance or fulfillment of any of the obligations, covenants or
conditions contained in (a) any agreement to which it is a party, which default
could reasonably be expected to have a Material Adverse Effect or (b) any
agreement or instrument evidencing or governing Material
Indebtedness.

     

    5.12 Compliance With
Laws.  The Parent and its Subsidiaries have complied with all
applicable statutes, rules, regulations, orders and restrictions of any domestic
or foreign government or any instrumentality or agency thereof having
jurisdiction over the conduct of their respective businesses or the ownership of
their respective Property except for any failure to comply with any of the
foregoing which could not reasonably be expected to have a Material Adverse
Effect.

     

    5.13 Ownership of
Properties.  The Parent and its Subsidiaries have good title,
free of all Liens other than those permitted by Section 6.15, to
all of the Property and assets reflected in the Parent's most recent
consolidated financial statements provided to the Administrative Agent as owned
by the Parent and its Subsidiaries.

     

    5.14 Plan Assets; Prohibited
Transactions.  None of the Borrowers is an entity deemed to
hold "plan assets" within the meaning of 29 C.F.R. § 2510.3-101 of an employee
benefit plan (as defined in Section 3(3) of ERISA) which is subject to
Title I of ERISA or any plan (within the meaning of Section 4975 of the
Code), and neither the execution of this Agreement nor the making of Credit
Extensions hereunder gives rise to a prohibited transaction within the meaning
of Section 406 of ERISA or Section 4975 of the Code.

     

    5.15 Environmental
Matters.  In the ordinary course of its business, the officers
of the Parent consider the effect of Environmental Laws on the business of the
Parent and its Subsidiaries, in the course of which they identify and evaluate
potential risks and liabilities accruing to the Parent and its Subsidiaries due
to Environmental Laws.  On the basis of this consideration, the Parent
has concluded that Environmental Laws cannot reasonably be expected to have a
Material Adverse Effect.  None of the Parent or any of its
Subsidiaries has received any notice to the effect that its operations are not
in material compliance with any of the requirements of applicable Environmental
Laws or are the subject of any federal or state investigation evaluating whether
any remedial action is needed to respond to a release of any toxic or hazardous
waste or substance into the environment, which non compliance or remedial action
is reasonably expected by the Parent to have a Material Adverse
Effect.

     

    
      
        
        

      

      
        -64-

        
          

        

      

      
        
        

      

    

    5.16 Investment Company
Act.  None of the Parent or any of its Subsidiaries is an
"investment company" or a company "controlled" by an "investment company",
within the meaning of the Investment Company Act of 1940, as
amended.

     

    5.17 [Reserved].

     

    5.18 Reportable
Transaction.  The Borrowers do not intend and have not been
advised to treat the Advances and related transactions as being part of a
"reportable transaction" (within the meaning of Treasury Regulation
Section 1.6011-4).  In the event the Borrowers determine to take
any action inconsistent with such intention or the Internal Revenue Service
claims any Obligations to be part of a Reportable Transaction, it will promptly
notify the Administrative Agent of such intent or such claim.

     

    5.19 Foreign Assets Control
Regulations, etc..  (a) Neither any Facility LC nor any part of
the proceeds of the Loans will violate the Trading with the Enemy Act, as
amended, or any of the foreign assets control regulations of the United States
Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling
legislation or executive order relating thereto.

     

    (b) Neither
the Parent nor any of its Subsidiaries (i) is, or will become, a Person
described or designated in the Specially Designated Nationals and Blocked
Persons List of the Office of Foreign Assets Control or in Section 1 of the
Anti-Terrorism Order or (ii) engages or will engage in any dealings or
transactions, or is or will be otherwise associated, with any such
Person.  The Parent and its Subsidiaries are in compliance, in all
material respects, with the USA Patriot Act.

     

    (c) Neither
any Facility LC nor any part of the proceeds of the Loans will be used, directly
or indirectly, for any payments to any governmental official or employee,
political party, official of a political party, candidate for political office,
or anyone else acting in an official capacity, in order to obtain, retain or
direct business or obtain any improper advantage, in violation of the United
States Foreign Corrupt Practices Act of 1977, as amended, assuming in all cases
that such act applies to the Parent and its Subsidiaries.

     

    5.20 Obligations Pari
Passu.  The obligations of each Borrower arising under this
Agreement and the Loan Documents rank pari passu and equal in right of payment
with all of the other Indebtedness of each Borrower, which is not by its terms
secured by any assets of each Borrower and its Subsidiaries, and which is not
subordinate in right of payment to any other Indebtedness of such Borrower or
its Subsidiaries.

     

    
      
        
        

      

      
        -65-

        
          

        

      

      
        
        

      

    

     

    ARTICLE
VI

    COVENANTS

     

    During
the term of this Agreement, unless the Required Lenders shall otherwise consent
in writing:

     

    6.1 Financial
Reporting.  The Parent will maintain, for itself and each
Subsidiary, a system of accounting established and administered in accordance
with generally accepted accounting principles, and furnish to the
Lenders:

     

    (a) On or
before the earlier of (i) 90 days after the close of each of its fiscal years
and (ii) the date on which filing such report with the SEC is required (taking
into account any extensions granted by the SEC), an unqualified audit report
certified by Ernst & Young, L.L.P., or any other independent certified
public accountants reasonably acceptable to the Lenders, prepared in accordance
with Agreement Accounting Principles on a consolidated basis for itself and its
Subsidiaries, including a balance sheet as of the end of such period, related
profit and loss and statement of change of shareholders' equity, and a statement
of cash flows, accompanied by a certificate of said accountants that, in the
course of their examination necessary for their certification of the foregoing,
they have obtained no knowledge of any Default or Unmatured Default, or if, in
the opinion of such accountants, any Default or Unmatured Default shall exist,
stating the nature and status thereof; provided that, if any
financial statement referred to in this Section 6.1(a)
is readily available on-line through EDGAR as of the date on which such
financial statement is required to be delivered hereunder and Parent shall have
notified the Lenders in its Compliance Certificate that such financial statement
is so available, Parent shall not be obligated to furnish copies of such
financial statements.  The 90-day period referenced above shall be
extended for up to 15 days for any fiscal year as to which the Parent has
received an extension from the SEC for the filing of its annual report on SEC
Form 10K.

     

    (b) On or
before the earlier of (i) 45 days after the close of the first three quarterly
periods of each of its fiscal years and (ii) the date on which filing such
report with the SEC is required (taking into account any extensions granted by
the SEC), for itself and its Subsidiaries, a consolidated unaudited balance
sheet as at the close of each such period and consolidated profit and loss and
statement of change of shareholders' equity and a statement of cash flows for
the period from the beginning of such fiscal year to the end of such quarter,
all certified by an Authorized Officer of the Parent; provided that, if any
financial statement referred to in this Section 6.1(b)
is readily available on-line through EDGAR as of the date on which such
financial statement is required to be delivered hereunder and Parent shall have
notified the Lenders in its Compliance Certificate that such financial statement
is so available, Parent shall not be obligated to furnish copies of such
financial statements.  The 45-day period referenced above shall be
extended for up to 15 days for any fiscal quarter as to which the Parent has
received an extension from the SEC for the filing of its quarterly report on SEC
Form 10Q.

     

    (c) Together
with the financial statements required under Sections 6.1(a)
and (b), a
Compliance Certificate signed by an Authorized Officer of the Parent showing the
calculations necessary to determine compliance with this Agreement and stating
that no Default or Unmatured Default exists, or if any Default or Unmatured
Default exists, stating the nature and status thereof.

     

    
      
        
        

      

      
        -66-

        
          

        

      

      
        
        

      

    

    (d) As soon
as possible and in any event (i) within 30 days after the Parent knows that any
Termination Event described in clause (a) of the definition of Termination Event
with respect to any Plan has occurred, and (ii) within 10 Business Days after
the Parent knows that any other Termination Event with respect to any Plan has
occurred, a statement, signed by an Authorized Officer of the Parent, describing
such Termination Event and the action which the Parent proposes to take with
respect thereto.

     

    (e) As soon
as possible and in any event within 30 days after receipt by the Parent, a copy
of (i) any notice or claim to the effect that the Parent or any of its
Subsidiaries is or may be liable to any Person as a result of the release by the
Parent, any of its Subsidiaries, or any other Person of any toxic or hazardous
waste or substance into the environment, and (ii) any notice alleging any
violation of any federal, state or local environmental, health or safety law or
regulation by the Parent or any of its Subsidiaries, which, in either case,
could reasonably be expected to exceed $5,000,000.

     

    (f) Promptly
upon the furnishing thereof to the shareholders of the Parent, copies of all
financial statements, reports and proxy statements so furnished.

     

    (g) Promptly
upon the filing thereof, copies of all registration statements and annual,
quarterly, monthly or other regular reports which the Parent or any of its
Subsidiaries files with the Securities and Exchange Commission, provided that, if
such registration statements and reports are readily available on-line through
EDGAR and Parent shall have notified the Lenders in writing that such
registration statements or reports are so available, Parent shall not be
obligated to furnish copies of such documents.

     

    (h) Such
other information (including non financial information) as the Administrative
Agent or any Lender may from time to time reasonably request, including, without
limitation, information requested in order for the Administrative Agent or any
Lender to comply with the USA Patriot Act.

     

    6.2 Use of
Proceeds.  The Parent will, and will cause each Subsidiary to,
use the proceeds of the Credit Extensions for working capital, acquisitions and
other general corporate purposes; provided that no
proceeds of any Credit Extension to any EDC Permitted Borrower shall be
contributed or loaned by such EDC Permitted Borrower to any Borrower that is not
an EDC Permitted Borrower.  Each Borrower will not, nor will it permit
any Subsidiary to, use any of the proceeds of the Advances to purchase or carry
any "margin stock" (as defined in Regulation U).  Notwithstanding
anything in this Section 6.2 to the contrary, the terms of this Section 6.2
shall not restrict the Parent and its Subsidiaries from continuing to use the
pool of funds treasury management approach that they have used on a consistent
basis during the 12 months immediately prior to the Closing Date and any funds
advanced by EDC to an EDC  Permitted Borrower which become part of the
pool of funds allocated from time to time among the Parent and its Subsidiaries
using this pool of funds treasury management approach shall be deemed to have
been applied to a permitted use.

     

    
      6.3 Notice of
Default.  The Parent will, and will cause each Subsidiary to,
give prompt notice in writing to the Lenders of the occurrence of any Default or
Unmatured Default and of any other development, financial or otherwise, which
could reasonably be expected to have a Material Adverse Effect.

       

      6.4 Conduct of
Business.  The Parent will, and will cause each Borrowing
Subsidiary to, continue to operate its core business in the oil field service
industry and in other reasonably related industries and carry on and conduct its
business in substantially the same manner as it is presently conducted and do
all things necessary to remain duly incorporated or organized, validly existing
and (to the extent such concept applies to such entity) in good standing as a
corporation, partnership or limited liability company in its jurisdiction of
incorporation or organization, as the case may be, and maintain all requisite
authority to conduct its business in each jurisdiction in which its business is
conducted where the failure to so maintain its authority could reasonably be
expected to cause a Material Adverse Effect; provided that
Subsidiaries may enter into mergers permitted by Section 6.12 and
may (other than in the case of Borrowing Subsidiaries) be liquidated if such
liquidation may not reasonably be expected to have a Material Adverse
Effect.

       

    

     

    
      
        
        

      

      
        -67-

        
          

        

      

      
        
        

      

    

     

    6.5 Taxes.  The
Parent will, and will cause each Subsidiary to, timely file complete and correct
United States federal and applicable foreign, state and local tax returns
required by law and pay when due all taxes, assessments and governmental charges
and levies upon it or its income, profits or Property, except those which are
being contested in good faith by appropriate proceedings and with respect to
which adequate reserves have been set aside in accordance with Agreement
Accounting Principles.

     

    6.6 Insurance.  The
Parent will, and will cause each Subsidiary to, maintain with financially sound
and reputable insurance companies insurance on all their Property in such
amounts and covering such risks as is consistent with sound business practice,
and the Parent will furnish to any Lender upon request a summary of the
insurance carried.

     

    6.7 Compliance with
Laws.  The Parent will, and will cause each Subsidiary to,
comply with all laws, rules, regulations, orders, writs, judgments, injunctions,
decrees or awards to which it may be subject including, without limitation, all
Environmental Laws, the failure to comply with which could reasonably be
expected to have a Material Adverse Effect or for which the compliance is being
contested in good faith by appropriate proceedings.

     

    6.8 Maintenance of
Properties.  The Parent will, and will cause each Subsidiary
to, do all things necessary to maintain, preserve, protect and keep its Property
in good repair, working order and condition, and make all necessary and proper
repairs, renewals and replacements so that its business carried on in connection
therewith may be properly conducted at all times.

     

    
      6.9 Inspection.  The
Parent will, and will cause each Subsidiary to, permit the Administrative Agent,
by its representatives and agents, to inspect any of the Property, books and
financial records of the Parent and each Subsidiary, to examine and make copies
of the books of accounts and other financial records of the Parent and each
Subsidiary, and to discuss the affairs, finances and accounts of the Parent and
each Subsidiary with, and to be advised as to the same by, their respective
officers at such reasonable times and intervals as the Administrative Agent may
designate  The Administrative Agent shall give the Parent three (3)
Business Days' notice of each such inspection, shall schedule such inspections
during normal business hours, shall conduct the inspection in a manner that does
not unreasonably and materially interfere with the business operations of the
Parent and its Subsidiaries, and if no Default has occurred and is continuing,
shall conduct no more than one inspection during each calendar
year.  When no Default has occurred and is continuing, any such
inspection or examination shall be at the Administrative Agent's cost and
expense.  When a Default has occurred and is continuing, any such
inspection or examination shall be at the Parent's cost and
expense.

       

    

    
      
        
        

      

      
        -68-

        
          

        

      

      
        
        

      

    

     

    6.10 Capital Stock and
Dividends.  If a Default or Unmatured Default exists before or
after giving effect thereto, the Parent will not, nor will it permit any
Subsidiary to, (a) issue (except by a Subsidiary to the Parent or any
Wholly-Owned Subsidiary) any preferred stock, other capital stock or any equity
securities of any kind, in each case, subject to sinking fund payments or other
mandatory redemptions or payments prior to the Facility Termination Date or (b)
declare or pay any dividends or make any distributions on its capital stock
(other than dividends payable in its own capital stock and dividends payable in
cash to the Parent or a Wholly-Owned Subsidiary of the Parent) or redeem,
repurchase or otherwise acquire or retire any of its capital stock at any time
outstanding.

     

    6.11 Indebtedness.

     

    (a) The
Parent will not, nor will it permit any Subsidiary to, create, incur or suffer
to exist any Indebtedness, except (i) the Obligations (including the
Reimbursement Obligations), (ii) Indebtedness which, in accordance with
Agreement Accounting Principles is required to be shown on the balance sheet of
such Person (other than Indebtedness owed by one of the Parent's Wholly-Owned
Subsidiaries to the Parent or to another Wholly-Owned Subsidiary), (iii) in an
aggregate amount outstanding at any time not in excess of $100,000,000
consisting of (A) Contingent Obligations in respect of a Person other than the
Parent or another Subsidiary and/or (B) Attributable Debt as lessor or guarantor
under Synthetic Leases or, without duplication, other Off-Balance Sheet
Liabilities, and (iv) Attributable Debt as seller, originator, or guarantor
under accounts or notes receivable financing or securitization programs in an
aggregate amount outstanding at any time not in excess of
$150,000,000.

     

    (b) Notwithstanding
the foregoing, the Parent will not permit the Subsidiaries to create, incur or
suffer to exist any Indebtedness (exclusive of any Indebtedness in the form of
the Obligations and any Indebtedness owed to the Parent or to a Subsidiary) in
an aggregate amount outstanding at any time in excess of the greater of (i)
$200,000,000 and (ii) 15% of Consolidated Net Worth at such time; provided that, with
respect to any Subsidiary acquired by the Parent (or by any Subsidiary) after
the date of this Agreement, for purposes of calculating compliance with this
Section 6.11(b),
there shall be excluded from such calculation the amount of Indebtedness owed by
any such Subsidiary prior to its acquisition, other than any Indebtedness
created in anticipation of such acquisition, if the Parent provides to the
Administrative Agent a balance sheet of such acquired Subsidiary as of a recent
date evidencing the amount of such Indebtedness.  To satisfy the
foregoing requirement, any such balance sheet must be (A) audited by independent
certified public accountants reasonably acceptable to the Administrative Agent
or (B) if the Parent provides to the Administrative Agent the balance sheet of
such acquired Subsidiary for the fiscal year of such Subsidiary then most
recently ended, but such year end balance sheet is either (1) audited by
independent certified public accountants not reasonably acceptable to the
Administrative Agent or (2) audited by independent certified public accountants
reasonably acceptable to the Administrative Agent, but not relating to a recent
date as reasonably determined by the Administrative Agent, then reviewed by
independent certified public accountants reasonably acceptable to the
Administrative Agent.

     

    
      
        
        

      

      
        -69-

        
          

        

      

      
        
        

      

    

    6.12 Merger.  The
Parent will not, nor will it permit any Subsidiary to, merge or consolidate with
or into any other Person, except that (a) a Wholly-Owned Subsidiary may merge
into the Parent or any Wholly-Owned Subsidiary of the Parent and (b) the Parent
or any Subsidiary may merge or consolidate with any other Person, so long as
immediately thereafter (and after giving effect thereto), (i) no Default or
Unmatured Default exists, (ii) in the case of a merger or a consolidation
involving the Parent, the Parent is the continuing or surviving corporation, and
(iii) in the case of a merger or a consolidation involving a Borrowing
Subsidiary, if such Subsidiary is not the continuing or surviving entity, then
the continuing or surviving entity has agreed in writing to assume the
obligations of such Subsidiary under the Loan Documents.

     

    6.13 Sale of
Assets.  The Parent will not, nor will it permit any Subsidiary
to enter into any Asset Disposition from on and after the date of this
Agreement, except for Asset Dispositions that in the aggregate do not constitute
a Substantial Portion of the Property of the Parent and the
Subsidiaries.  Notwithstanding the foregoing, the Parent (or its
Subsidiaries) may enter into and consummate an Asset Disposition that
individually, or when aggregated with prior Asset Dispositions made after the
date of this Agreement, would constitute a Substantial Portion of the Property
of the Parent and its Subsidiaries if:  (a) concurrently with its
entering into such Asset Disposition, the Parent gives notice of its intent to
(i) use the net cash proceeds from such Asset Disposition to replace the assets
which are the subject of such disposition or (ii) otherwise reinvest such net
cash proceeds in capital assets, (b) such replacement or reinvestment is
completed within 180 days after the date the Parent (or its applicable
Subsidiary) receives the net cash proceeds from the applicable Asset
Disposition, and (c) the net proceeds received from such Asset Disposition equal
or exceed (in the reasonable opinion of two Authorized Officers of the Parent)
the fair market value of the Property transferred.

     

    6.14 Sale of
Accounts.  The Parent will not, nor will it permit any
Subsidiary to, sell or otherwise dispose of any notes receivable or accounts
receivable arising in the ordinary course of business on terms customary in the
trade and which are due within 120 days after the invoice date, with or without
recourse, other than in connection with accounts or notes receivable financing
or securitization programs permitted under Section 6.11(a)(iv).

     

    
      6.15 Liens.  The
Parent will not, nor will it permit any Subsidiary to, create, incur, or suffer
to exist any Lien in, of or on the Property of the Parent or any of its
Subsidiaries, except:

       

      (a) Liens for
taxes, assessments or governmental charges or levies on its Property if the same
shall not at the time be delinquent or thereafter can be paid without penalty,
or are being contested in good faith and by appropriate proceedings and for
which adequate reserves in accordance with Agreement Accounting Principles shall
have been set aside on its books.

       

    

    
      
        
        

      

      
        -70-

        
          

        

      

      
        
        

      

    

    (b) Liens
imposed by law, such as carriers', warehousemen's and mechanics' liens and other
similar liens arising in the ordinary course of business which secure payment of
obligations not more than 60 days past due or which are being contested in good
faith by appropriate proceedings and for which adequate reserves shall have been
set aside on its books.

     

    (c) Liens
arising out of pledges or deposits under worker's compensation laws,
unemployment insurance, old age pensions, or other social security or retirement
benefits, or similar legislation.

     

    (d) Utility
easements, building restrictions and such other encumbrances or charges against
real property as are of a nature generally existing with respect to properties
of a similar character and which do not in any material way affect the
marketability of the same or interfere with the use thereof in the business of
any Borrower or its Subsidiaries.

     

    (e) Liens
existing on the date hereof and described in Schedule
3.

     

    (f) Liens
other than those permitted by subsections (a) through (e) above securing
Indebtedness not at any time exceeding in the aggregate 10% of Consolidated Net
Worth.

     

    6.16 Affiliates.  The
Parent will not, and will not permit any Subsidiary to, enter into any
transaction (including, without limitation, the purchase or sale of any Property
or service) with, or make any payment or transfer to, any Affiliate except in
the ordinary course of business and pursuant to the reasonable requirements of
the Parent's or such Subsidiary's business and upon fair and reasonable terms no
less favorable to the Parent or such Subsidiary than any Borrower or such
Subsidiary would obtain in a comparable arms length transaction.

     

    6.17 Environmental
Matters.  The Parent will, and will cause each Subsidiary to,
(a) conduct its business so as to comply with all applicable material
Environmental Laws and shall promptly take corrective action to remedy any
non-compliance with any applicable material Environmental Law, except where
failure to comply or take action could not reasonably be expected to have a
Material Adverse Effect and (b) establish and maintain a management system
designed to ensure compliance with applicable material Environmental Laws and
minimize financial and other risks to the Parent and each Subsidiary arising
under applicable material Environmental Laws or as the result of environmentally
related injuries to Persons or Property.  If the Administrative Agent
or any Lender at any time has a reasonable basis to believe that there may be a
material violation of any Environmental Law by the Parent or any of the
Subsidiaries, or any material liability arising thereunder or related to a
Release of Hazardous Materials on any real property owned, leased, or operated
by any Borrower or any of the Subsidiaries or a Release on real property
adjacent to such real property, then the Parent shall, upon the request of the
Administrative Agent or such Lender, provide the Administrative Agent and each
Lender with all such reports, certificates, engineering studies, and other
written material or data relating thereto as the Administrative Agent or any
Lender may reasonably require.

     

    6.18 Restrictions on Subsidiary
Payments.  The Parent shall not, nor shall it permit any
Subsidiary to, enter into any indenture, agreement, instrument or other
arrangement which, directly or indirectly, prohibits or restrains, or has the
effect of prohibiting or restraining, or imposes materially adverse conditions
upon the ability of any Subsidiary to (a) pay dividends or make other
distributions on its capital stock, (b) make loans or advances to the Parent, or
(c) repay loans or advances from the Parent.

     

    
      
        
        

      

      
        -71-

        
          

        

      

      
        
        

      

    

    6.19 ERISA
Compliance.  With respect to any Plan, neither the Parent nor
any Subsidiary shall (a) incur any "accumulated funding deficiency" (as such
term is defined in Section 302 of ERISA) in excess of $25,000,000, whether
or not waived; (b) permit the occurrence of any Termination Event which could
result in a liability to any Borrower or any other member of the Controlled
Group in excess of (i) excluding the termination of the Terminating Plan,
$25,000,000 or (ii) including the termination of the Terminating Plan,
$50,000,000; (c) become an "employer" (as such term is defined in
Section 3(5) of ERISA) required to contribute to any Multiemployer Plan or
a "substantial employer" (as such term in defined in Section 4001(a)(2) of
ERISA) required to contribute to any Multiemployer Plan under circumstances such
that withdrawal from such Multiemployer Plan could reasonably be expected to
have a Material Adverse Effect or a material adverse effect on the Parent or its
ability to perform its obligations under this Agreement, the Guaranty or any
other material Loan Document; or (d) permit the establishment or amendment of
any Plan or fail to comply with the applicable provisions of ERISA and the Code
with respect to any Plan, in each case, which could result in liability to any
Borrower or any other member of a Controlled Group which, individually or in the
aggregate, could reasonably be expected to have a Material Adverse
Effect.

     

    6.20 Total Debt to Total
Capitalization Ratio.  The Parent, on a consolidated basis with
the Subsidiaries, shall not permit the ratio of Total Debt to Total
Capitalization to be greater than 60% at any time.

     

    ARTICLE
VII

    DEFAULTS

     

    The
occurrence of any one or more of the following events shall constitute a
Default:

     

    7.1 Any
representation or warranty made or deemed made by or on behalf of the Parent or
any Material Subsidiary to the Lenders or the Administrative Agent under or in
connection with this Agreement, any Credit Extension, or any certificate or
information delivered in connection with this Agreement or any other Loan
Document shall be materially false on the date such representation or warranty
is made or deemed made.

     

    
      
        
        

      

      
        -72-

        
          

        

      

      
        
        

      

    

    7.2 Nonpayment
of (a) principal of any Loan (other than a Swing Line Loan) when due, (b)
principal of any Swing Line Loan (i) within five Business Days of when due if
the Aggregate Commitments minus the Aggregate Outstanding Credit Exposure (the
"Availability")
on the date such principal payment is due is greater than or equal to the
principal amount so due or (ii) when due if the Availability is less than the
principal amount so due, (c) nonpayment of interest upon any Loan or of any
Facility fee or usage fee, LC Fee, or other obligations under any of the Loan
Documents within five days after the same becomes due, or (d) nonpayment of any
Reimbursement Obligation within one Business Day after the same becomes
due.

     

    7.3 The
breach by any of the Borrowers of any of the terms or provisions of Sections 6.2,
6.3, 6.10 through 6.20.

     

    7.4 The
breach by any of the Borrowers (other than a breach which constitutes a Default
under another Section of this Article VII) of
any of the terms or provisions of this Agreement which is not remedied within 30
days after written notice from the Administrative Agent or any
Lender.

     

    7.5 Failure
of the Parent or any Material Subsidiary to pay when due any Indebtedness
aggregating in excess of $75,000,000 ("Material
Indebtedness"); or the default by the Parent or any Material Subsidiary
in the performance (beyond the applicable grace period with respect thereto, if
any) of any term, provision or condition contained in any agreement under which
any such Material Indebtedness was created or is governed, or any other event
shall occur or condition exist, the effect of which default or event or
condition is to cause, or to permit the holder or holders of such Material
Indebtedness to cause, such Material Indebtedness to become due prior to its
stated maturity; or any Material Indebtedness of the Parent or any Material
Subsidiary shall be declared to be due and payable or required to be prepaid or
repurchased (other than by a regularly scheduled payment) prior to the stated
maturity thereof; or the Parent or any Material Subsidiary shall not pay, or
admit in writing its inability to pay, its debts generally as they become
due.

     

    7.6 The
Parent or any Material Subsidiary shall (a) have an order for relief entered
with respect to it under the Federal bankruptcy laws (or comparable foreign
laws) as now or hereafter in effect, (b) make an assignment for the benefit of
creditors, (c) apply for, seek, consent to, or acquiesce in, the appointment of
a receiver, custodian, trustee, examiner, liquidator or similar official for it
or any Substantial Portion of its Property, (d) institute any proceeding seeking
an order for relief under the Federal bankruptcy laws (or comparable foreign
laws) as now or hereafter in effect or seeking to adjudicate it a bankrupt or
insolvent, or seeking dissolution, winding up, liquidation, reorganization,
arrangement, adjustment or composition of it or its debts under any law relating
to bankruptcy, insolvency or reorganization or relief of debtors or fail to file
an answer or other pleading denying, or file an answer admitting, the material
allegations of any such proceeding filed against it, (e) take any corporate or
partnership action to authorize or effect any of the foregoing actions set out
in this Section 7.6 or
(f) fail to contest in good faith any appointment or proceeding described in
Section 7.7.

     

    7.7 Without
the application, approval or consent of the Parent or any Material Subsidiary a
receiver, trustee, examiner, liquidator or similar official shall be appointed
for the Parent or any Material Subsidiary or any Substantial Portion of its
Property, or a proceeding described in Section 7.6(d)
shall be instituted against the Parent or any Material Subsidiary and such
appointment continues undischarged or such proceeding continues undismissed or
unstayed for a period of 60 consecutive days.

     

    
      
        
        

      

      
        -73-

        
          

        

      

      
        
        

      

    

    7.8 Any
court, government or governmental agency shall condemn, seize or otherwise
appropriate, or take custody or control of, all or any portion of the Property
of the Parent and its Material Subsidiaries which, when taken together with all
other Property of the Parent and its Material Subsidiaries so condemned, seized,
appropriated, or taken custody or control of, during the twelve month period
ending with the month in which any such action occurs, constitutes a Substantial
Portion.

     

    7.9 The
Parent or any Material Subsidiary shall fail within 30 days to pay, bond or
otherwise discharge one or more (a) judgments or orders for the payment of money
in excess of $25,000,000 (or multiple judgments or orders for the payment of an
aggregate amount in excess of $50,000,000) (or the equivalent thereof in
currencies other than U.S. Dollars) in the aggregate, or (b) nonmonetary
judgments or orders which, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect, which judgment(s), in any such case,
is/are not stayed on appeal or otherwise being appropriately contested in good
faith.

     

    7.10 The
Unfunded Liabilities of all Single Employer Plans shall exceed in the aggregate
$50,000,000 or any Reportable Event that could reasonably be expected to have a
Material Adverse Effect shall occur in connection with any Plan.

     

    7.11 The
Parent or any other member of the Controlled Group shall have been notified by
the sponsor of a Multiemployer Plan that it has incurred withdrawal liability to
such Multiemployer Plan in an amount which, when aggregated with all other
amounts required to be paid to Multiemployer Plans by the Parent or any other
member of the Controlled Group as withdrawal liability (determined as of the
date of such notification), exceeds $25,000,000 or requires payments exceeding
$10,000,000 per annum.

     

    7.12 The
Parent or any other member of the Controlled Group shall have been notified by
the sponsor of a Multiemployer Plan that such Multiemployer Plan is in
reorganization or is being terminated, within the meaning of Title IV of ERISA,
if as a result of such reorganization or termination the aggregate annual
contributions of any Borrower and the other members of the Controlled Group
(taken as a whole) to all Multiemployer Plans which are then in reorganization
or being terminated have been or will be increased over the amounts contributed
to such Multiemployer Plans for the respective plan years of each such
Multiemployer Plan immediately preceding the plan year in which the
reorganization or termination occurs by an amount exceeding
$25,000,000.

     

    7.13 The
Parent or any of its Subsidiaries shall (a) be the subject of any proceeding or
investigation pertaining to the release by the Borrower, any of its Subsidiaries
or any other Person of any toxic or hazardous waste or substance into the
environment, or (b) violate any Environmental Law, which, in the case of an
event described in clause (a) or clause (b), could reasonably be expected to
have a Material Adverse Effect.

     

    7.14 Any
Change in Control shall occur.

     

    
      
        
        

      

      
        -74-

        
          

        

      

      
        
        

      

    

    7.15 The
occurrence of any "default" under any Loan Document (other than this Agreement)
or the breach of any of the terms or provisions of any Loan Document (other than
this Agreement), which default or breach continues beyond any period of grace
therein provided.

     

    7.16 The
Guaranty shall fail to remain in full force or effect or any action shall be
taken to discontinue or to assert the invalidity or unenforceability of the
Guaranty, or the Parent shall fail to comply with any of the material terms or
provisions of the Guaranty to which it is a party, or the Guarantor shall deny
that it has any further liability under the Guaranty, or shall give notice to
such effect.

     

    ARTICLE
VIII

    ACCELERATION,
WAIVERS, AMENDMENTS AND REMEDIES

     

    8.1 Acceleration; Facility LC
Collateral Account.  (a) If any Default described in Section 7.6 or
Section 7.7
occurs with respect to any Borrower, the obligations of the Lenders to make
Loans hereunder and the obligation and power of the LC Issuers to issue Facility
LCs shall automatically terminate and the Obligations shall immediately become
due and payable without any election or action on the part of the Administrative
Agent, any LC Issuer, or any Lender and the Borrowers will be and become thereby
unconditionally obligated, without any further notice, act or demand, to pay to
the Administrative Agent an amount determined as set forth below in immediately
available funds, which funds shall be held in the Facility LC Collateral
Account.  The Administrative Agent shall determine the difference of
(i) the amount of LC Obligations at such time (other than LC Obligations with
respect to Bank Guaranties), less (ii) the amount on deposit in the Facility LC
Collateral Account at such time which is free and clear of all rights and claims
of third parties and has not been applied against the Obligations (such
difference, the "Collateral Shortfall
Amount").  The Borrowers will pay to the Administrative Agent,
for deposit in the Facility LC Collateral Account, either (y) the Collateral
Shortfall Amount in the applicable Agreed Currency or Currencies or (z) an
amount equal to 110% of the Dollar Amount of the Collateral Shortfall Amount
(calculated as of the applicable Computation Date) in Dollars, as elected by the
Parent.  If any Default other than a Default under Section 7.6 or
Section 7.7
exists, the Required Lenders (or the Administrative Agent with the consent of
the Required Lenders) may (A) terminate or suspend the obligations of the
Lenders to make Loans hereunder and the obligation and power of the LC Issuers
to issue Facility LCs, or declare the Obligations to be due and payable, or
both, whereupon the Obligations shall become immediately due and payable,
without presentment, demand, protest or notice of any kind, all of which each of
the Borrowers hereby expressly waives, and (B) upon notice to the Borrowers and
in addition to the continuing right to demand payment of all amounts payable
under this Agreement, make demand on the Borrowers to pay, and the Borrowers
will, forthwith upon demand (and without any further notice or act), pay to the
Administrative Agent either (y) the Collateral Shortfall Amount in the
applicable Agreed Currency or Currencies or (z) an amount equal to 110% of the
Dollar Amount of the Collateral Shortfall Amount (calculated as of the
applicable Computation Date) in Dollars, as elected by the Parent, which funds
shall be deposited in the Facility LC Collateral Account.

     

    (b) If at any
time while any Default is continuing, the Administrative Agent determines that
the Collateral Shortfall Amount at such time is greater than zero, the
Administrative Agent may make demand on the Borrowers to pay, and the Borrowers
will, forthwith upon such demand and without any further notice or act, pay to
the Administrative Agent either (y) the Collateral Shortfall Amount in the
applicable (as determined by the Administrative Agent) Agreed Currency or
Currencies or (z) an amount equal to 110% of the Dollar Amount of the Collateral
Shortfall Amount (calculated as of the applicable Computation Date) in Dollars,
as elected by the Parent, which funds shall be deposited in the Facility LC
Collateral Account.

     

    
      
        
        

      

      
        -75-

        
          

        

      

      
        
        

      

    

    (c) So long
as any Facility LC is outstanding, amounts deposited in the Facility LC
Collateral Account, if any, shall only be applied by the Administrative Agent to
the payment of Reimbursement Obligations and LC Fees that are due and
payable.  If no Facility LC remains outstanding, and the Facility
Termination Date has occurred or a Default is continuing, the Administrative
Agent may apply the remaining amounts deposited in the Facility LC Collateral
Account, if any, to the payment of the Obligations and any other amounts as
shall from time to time have become due and payable by the Borrowers to the
Lenders or the LC Issuers under the Loan Documents.  If, following the
deposit of cash collateral pursuant to this Section 8.1, all
Defaults are cured or waived and no Default is continuing, the remaining amounts
deposited in the Facility LC Collateral Account, if any, shall be returned to
the Borrowers to the extent such cash collateral is not otherwise expressly
required under the terms of this Agreement.

     

    (d) At any
time while any Default is continuing, neither the Borrowers nor any Person
claiming on behalf of or through the Borrowers shall have any right to withdraw
any of the funds held in the Facility LC Collateral Account.  After
all of the Obligations have been indefeasibly paid in full and the Aggregate
Commitment has been terminated, any funds remaining in the Facility LC
Collateral Account shall be returned by the Administrative Agent to the
Borrowers or paid to whomever may be legally entitled thereto at such
time.

     

    (e) If,
within 30 days after acceleration of the maturity of the Obligations or
termination of the obligations of the Lenders to make Loans and the obligation
and the power of LC Issuers to issue Facility LCs hereunder as a result of any
Default (other than any Default as described in Section 7.6 or
7.7 with
respect to any Borrower) and before any judgment or decree for the payment of
the Obligations due have been obtained or entered, the Required Lenders (in
their sole discretion) so direct, the Administrative Agent shall, by notice to
the Borrowers, rescind and annul such acceleration and/or termination and the
Administrative Agent shall promptly release all or part of the cash collateral,
as applicable, to the Borrowers to the extent such cash collateral is not
otherwise required under the terms of this Agreement.

     

    8.2 Amendments.  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 Borrower 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
Reimbursement Obligation or reduce the rate of interest thereon, or reduce any
fees payable hereunder, without the written consent of each Lender affected
thereby, (iii) postpone the scheduled date of payment of the principal amount of
any Loan or Reimbursement Obligation, 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 affected thereby, (iv) change Section 11.2 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, (vi) release all or any substantial portion of any cash collateral
provided pursuant to this Agreement (other than in accordance with the terms of
this Agreement), or waive the Borrowers' obligation to provide cash collateral
pursuant to Section
2.26.11, without the prior written consent of each Lender or (vii) change
the third sentence of Section 2.26.1 in a
manner that would permit the expiry date of an "evergreen" Facility LC to extend
more than 12 months beyond the respective Commitment Maturity Date; provided further that no such
agreement shall amend, modify or otherwise affect the rights or duties of the
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, any LC Issuer or any Swing Line Lender hereunder without
the prior written consent of the Administrative Agent, the European
Administrative Agent, the Canadian Administrative Agent, such LC Issuer or such
Swing Line Lender, as the case may be.

     

    
      
        
        

      

      
        -76-

        
          

        

      

      
        
        

      

    

    8.3 Preservation of
Rights.  No failure or delay by the Administrative Agent, any
LC Issuer or any Lender in exercising any right or power hereunder 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 the Administrative
Agent, each LC Issuer and the Lenders hereunder 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 Section 8.2, 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 Facility LC shall not be
construed as a waiver of any Default or Potential Default, regardless of whether
the Administrative Agent, any Lender or any LC Issuer may have had notice or
knowledge of such Default or Potential Default at the time.

     

    ARTICLE
IX

    GENERAL
PROVISIONS

     

    9.1 Survival of
Representations.  All covenants, agreements, representations
and warranties made by the Borrowers herein and in the certificates or other
instruments  delivered in connection with or pursuant to this
Agreement shall be considered to have been relied upon by the other parties
hereto and shall survive the execution and delivery of this Agreement and the
making of any Loans and issuance of any Facility LC, regardless of any
investigation made by any such other party or on its behalf and notwithstanding
that the Administrative Agent, any LC Issuer 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 is outstanding and unpaid or any
Facility LC is outstanding and so long as the Commitments have not expired or
terminated.  The provisions of Sections 3.1,
3.4, 3.5 and 9.6 and Article X 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 Facility LCs and the Commitments or the termination of
this Agreement or any provision hereof.

     

    9.2 Governmental
Regulation.  Anything contained in this Agreement to the
contrary notwithstanding, neither any LC Issuer nor any Lender shall be
obligated to extend credit to any Borrower in violation of any limitation or
prohibition provided by any applicable statute or regulation.

     

    
      
        
        

      

      
        -77-

        
          

        

      

      
        
        

      

    

    9.3 Headings.  Section headings
in the Loan Documents are for convenience of reference only, and shall not
govern the interpretation of any of the provisions of the Loan
Documents.

     

    9.4 Entire
Agreement.  The Loan Documents embody the entire agreement and
understanding among the Borrowers, the Administrative Agent, the European
Administrative Agent, the Canadian Administrative Agent, the LC Issuers, and the
Lenders and supersede all prior agreements and understandings among the
Borrowers, the Administrative Agent, the European Administrative Agent, the
Canadian Administrative Agent, the LC Issuers, and the Lenders relating to the
subject matter thereof other than the Fee Letter.

     

    9.5 Several Obligations;
Benefits of this Agreement.  The respective obligations of the
Lenders hereunder are several and not joint and no Lender shall be the partner
or agent of any other (except to the extent to which the Administrative Agent,
the European Administrative Agent and/or the Canadian Administrative Agent is
authorized to act as such).  The failure of any Lender to perform any
of its obligations hereunder shall not relieve any other Lender from any of its
obligations hereunder.  This Agreement shall not be construed so as to
confer any right or benefit upon any Person other than the parties to this
Agreement and their respective successors and assigns, provided, however,
that the parties hereto expressly agree that the Arranger shall enjoy the
benefits of the provisions of Sections 9.6,
9.10 and 10.11 to the extent
specifically set forth therein and shall have the right to enforce such
provisions on its own behalf and in its own name to the same extent as if it
were a party to this Agreement.

     

    9.6 Expenses;
Indemnification.  (a) The Parent 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 or any amendments, modifications or waivers of the provisions hereof
(whether or not the transactions contemplated hereby or thereby shall be
consummated), (ii) all reasonable out-of-pocket expenses incurred by any LC
Issuer in connection with the issuance, amendment, renewal or extension of any
Facility LC or any demand for payment thereunder and (iii) all out-of-pocket
expenses incurred by the Administrative Agent, the European Administrative
Agent, the Canadian Administrative Agent or any Lender, including the fees,
charges and disbursements of any counsel for the Administrative Agent 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 Facility LC issued hereunder, including all
such out-of-pocket expenses incurred during  any workout,
restructuring or negotiations in respect of such Loans or Facility
LCs.

     

     

    
      
        
        

      

      
        -78-

        
          

        

      

      
        
        

      

    

    (b) Each of
the Borrowers shall indemnify the Administrative Agent, the European
Administrative Agent, the Canadian Administrative Agent, the Arranger, 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 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 Facility LC or the use
of the proceeds therefrom (including any refusal by any LC Issuer to honor a
demand for payment under a Facility LC if the documents presented in connection
with such demand do not strictly comply with the terms of such Facility LC),
(iii) any actual or alleged presence or release of Hazardous Materials on
or from any property owned or operated by the Parent or any of its Subsidiaries,
or any Environmental Liability related in any way to the Parent 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 wilful misconduct of such
Indemnitee.

     

    (c) To the
extent that any Borrower fails to pay any amount required to be paid by it to
the Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, any LC Issuer or any Swing Line Lender under paragraph (a)
or (b) of this Section, each Lender severally agrees to pay to the
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, such LC Issuer or such Swing Line Lender, as the case may
be, such Lender's Pro Rata Share (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount;
provided that
the unreimbursed expense or indemnified loss, claim, damage, liability or
related expense, as the case may be, was incurred by or asserted against the
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, such LC Issuer or such Swing Line 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 or any agreement or instrument contemplated hereby, the Transactions,
any Loan or Facility LC or the use of the proceeds thereof.

     

    (e) All
amounts due under this Section shall be payable promptly after written demand
therefor.

     

    
      
        
        

      

      
        -79-

        
          

        

      

      
        
        

      

    

    9.7 Numbers of
Documents.  All statements, notices, closing documents, and
requests hereunder shall be furnished to the Administrative Agent with
sufficient counterparts so that the Administrative Agent may furnish one to each
of the Lenders.

     

    9.8 Accounting.  Except
as provided to the contrary herein, all accounting terms used herein shall be
interpreted and all accounting determinations hereunder shall be made in
accordance with Agreement Accounting Principles, except that any calculation or
determination which is to be made on a consolidated basis shall be made for the
Parent and all its Subsidiaries, including those Subsidiaries, if any, which are
unconsolidated on the Borrower's audited financial statements.  If at
any time any change in generally accepted accounting principles would affect the
computation of any financial ratio or requirement set out in any Loan Document,
and Borrowers shall so request, Administrative Agent, Lenders and Borrowers
shall negotiate in good faith to amend such ratio or requirement to preserve the
original intent thereof in light of such change in generally accepted accounting
principles (subject to the approval of the Required Lenders); provided that, until
so amended, such ratio or requirement shall continue to be computed in the same
manner as it was computed prior to such change.

     

    9.9 Severability of
Provisions.  Any provision in any Loan Document that is held to
be inoperative, unenforceable, or invalid in any jurisdiction shall, as to that
jurisdiction, be inoperative, unenforceable, or invalid without affecting the
remaining provisions in that jurisdiction or the operation, enforceability, or
validity of that provision in any other jurisdiction, and to this end the
provisions of all Loan Documents are declared to be severable.

     

    9.10 Nonliability of
Lenders.  The relationship between each of the Borrowers on the
one hand and the Lenders, the LC Issuers, the European Administrative Agent, the
Canadian Administrative Agent and the Administrative Agent on the other hand
shall be solely that of borrower and lender.  Neither the
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, the Arranger, any LC Issuer, nor any Lender shall have any
fiduciary responsibilities to any Borrower.  None of the
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, the Arranger, any LC Issuer, or any Lender undertakes any
responsibility to any Borrower to review or inform any Borrower of any matter in
connection with any phase of any Borrower's business or
operations.  Each of the Borrowers agrees that none of the
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, the Arranger, any LC Issuer, or any Lender shall have
liability to any Borrower (whether sounding in tort, contract or otherwise) for
losses suffered by any Borrower in connection with, arising out of, or in any
way related to, the transactions contemplated and the relationship established
by the Loan Documents, or any act, omission or event occurring in connection
therewith, unless it is determined in a final non-appealable judgment by a court
of competent jurisdiction that such losses resulted from the gross negligence or
willful misconduct of the party from which recovery is sought.  None
of the Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, the Arranger, any LC Issuer, or any Lender shall have any
liability with respect to, and each of the Borrowers hereby waives, releases and
agrees not to sue for, any special, indirect, consequential or punitive damages
suffered by any Borrower in connection with, arising out of, or in any way
related to the Loan Documents or the transactions contemplated
thereby.

     

    
      
        
        

      

      
        -80-

        
          

        

      

      
        
        

      

    

    9.11 Confidentiality.  (a)
Each of the Administrative Agent, the European Administrative Agent, the
Canadian Administrative Agent, the LC Issuers and the Lenders agrees to maintain
the confidentiality of the Information (as defined below), except that
Information may be disclosed (i) to its Affiliates and 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), (ii) to
the extent requested by any regulatory authority, (iii) to the extent
required by applicable laws or regulations or by any subpoena or similar legal
process, (iv) to any other party to this Agreement, (v) in connection with the
exercise of any remedies hereunder or any suit, action or proceeding relating to
this Agreement or the enforcement of rights hereunder, (vi) subject to an
agreement containing provisions substantially the same as those of this Section,
to (x) any assignee of or Participant in, or any prospective assignee of or
Participant in, any of its rights or obligations under this Agreement or (y) any
actual or prospective counterparty (or its advisors) to any swap or derivative
transaction relating to any Borrower and its obligations, (vii) with the consent
of the Parent or (viii) to the extent such Information (x) becomes
publicly available other than as a result of a breach of this Section or
(y) becomes available to the Administrative Agent, the European
Administrative Agent, the Canadian Administrative Agent, any LC Issuer or any
Lender on a nonconfidential basis from a source other than a
Borrower.  For the purposes of this Section, "Information" means
all information received from a Borrower relating to any Borrower or its
business, other than any such information that is available to the
Administrative Agent, the European Administrative Agent, the Canadian
Administrative Agent, any LC Issuer or any Lender on a nonconfidential basis
prior to disclosure by a Borrower; provided that, in the
case of information received from a Borrower after the date hereof, such
information is clearly identified at the time of delivery as
confidential.  Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied
with its obligation to do so if such Person has exercised the same degree of
care to maintain the confidentiality of such Information as such Person would
accord to its own confidential information.

     

    (b) EACH
LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.11(a) FURNISHED TO
IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION
CONCERNING THE PARENT AND  ITS RELATED PARTIES OR THEIR RESPECTIVE
SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING
THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL
NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW,
INCLUDING FEDERAL AND STATE SECURITIES LAWS.

     

    
      
        
        

      

      
        -81-

        
          

        

      

      
        
        

      

    

    (c) ALL
INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE
PARENT OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF
ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY
CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE PARENT AND ITS RELATED PARTIES
OR ITS SECURITIES.  ACCORDINGLY, EACH LENDER REPRESENTS TO THE PARENT
AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE
QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN
MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND
APPLICABLE LAW.

     

    9.12 Nonreliance.  Each
Lender hereby represents that it is not relying on or looking to any margin
stock (as defined in Regulation U of the Board of Governors of the Federal
Reserve System) for the repayment of the Credit Extensions provided for
herein.

     

    9.13 Disclosure.  Each
of the Borrowers and each Lender hereby (a) acknowledge and agree that
Administrative Agent and/or its Affiliates from time to time may hold
investments in, make other loans to or have other relationships with any
Borrower and its Affiliates and (b) waive any liability of Administrative Agent
or such Affiliate to any Borrower or any Lender, respectively, arising out of
resulting from such investments, loans or relationships other than liabilities
arising out of the gross negligence or willful misconduct of Administrative
Agent or its Affiliates.

     

    9.14 USA PATRIOT Act
Notice.  Each Lender that is subject to the USA Patriot Act (as
hereinafter defined) and the Administrative Agent (for itself and not on behalf
of any Lender) hereby notifies each Borrower that pursuant to the requirements
of the USA Patriot Act (Title III of pub. L. 107-56 (signed into law October 26,
2001))(the "USA
Patriot Act"), it is required to obtain, verify and record information
that identified each Borrower, which information includes the name and address
of each Borrower and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify each Borrower in accordance
with the USA Patriot Act.

     

    9.15 Interest Rate
Limitation.  Notwithstanding anything herein to the contrary,
if at any time the interest rate applicable to any Loan, together with all fees,
charges and other amounts which are treated as interest on such Loan under
applicable law (collectively the "Charges"), shall
exceed the maximum lawful rate (the "Maximum Rate") which
may be contracted for, charged, taken, received or reserved by the Lender
holding such Loan in accordance with applicable law, the rate of interest
payable in respect of such Loan hereunder, together with all Charges payable in
respect thereof, shall be limited to the Maximum Rate and, to the extent lawful,
the interest and Charges that would have been payable in respect of such Loan
but were not payable as a result of the operation of this Section shall be
cumulated and the interest and Charges payable to such Lender in respect of
other Loans or periods shall be increased (but not above the Maximum Rate
therefor) until such cumulated amount, together with interest thereon at the
Federal Funds Effective Rate to the date of repayment, shall have been received
by such Lender.

     

    
      
        
        

      

      
        -82-

        
          

        

      

      
        
        

      

    

    ARTICLE
X

    THE
ADMINISTRATIVE AGENT

     

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

     

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

     

    The
Administrative Agent shall not have any duties or obligations except those
expressly set forth herein.  Without limiting the generality of the
foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or
other implied duties, regardless of whether a Default or Potential 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 8.2), 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 Parent 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 8.2) or in
the absence of its own gross negligence or wilful misconduct.  The
Administrative Agent shall be deemed not to have knowledge of any Default or
Potential Default unless and until written notice thereof is given to the
Administrative Agent by the Borrower or a Lender, and the Administrative Agent
shall not be responsible for or have any duty to ascertain or inquire into (i)
any statement, warranty or representation made in or in connection with this
Agreement, (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, or (v) the
satisfaction of any condition set forth in Article IV or
elsewhere herein, other than to confirm receipt of items expressly required to
be delivered to the Administrative Agent.

     

    The
Administrative Agent shall be entitled to rely upon, and shall not incur any
liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing believed by it to be genuine
and to have been signed or sent by the proper Person.  The
Administrative Agent also may rely upon any statement made to it orally or by
telephone and believed by it to be made by the proper Person, and shall not
incur any liability for relying thereon.  The Administrative Agent may
consult with legal counsel (who may be counsel for the Borrower), independent
accountants and other experts selected by it, and shall not be liable for any
action taken or not taken by it in accordance with the advice of any such
counsel, accountants or experts.

     

    The
Administrative Agent may perform any and all its duties and exercise its rights
and powers 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.  Each of the European Administrative Agent and the Canadian
Administrative Agent shall be deemed to be a sub-agent of the Administrative
Agent for all purposes of this Agreement and entitled to the benefits of this
Article X.

     

    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 LC Issuers and the Parent.  Upon any such
resignation, the Required Lenders shall have the right, in consultation with the
Parent, 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 LC Issuers, 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 the Parent to a
successor Administrative Agent shall be the same as those payable to its
predecessor unless otherwise agreed between the Parent and such
successor.  After the Administrative Agent's resignation hereunder,
the provisions of this Article and Section 9.6 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.

    
       

      
        
          
          

        

        
          -83-

          
            

          

        

        
          
          

        

      

    

     

    Neither
any of the Lenders identified in this Agreement as a "co-agent" nor any
Syndication 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.

     

    ARTICLE
XI

    SETOFF;
RATABLE PAYMENTS

     

    11.1 Setoff.  In
addition to, and without limitation of, any rights of the Lenders under
applicable law, if any Borrower becomes insolvent, however evidenced, or any
Default occurs, any and all deposits (general or special, time or demand,
provisional or final) and any other Indebtedness at any time held or owing by
any Lender or any Affiliate of any Lender to or for the credit or account of
such Borrower may be offset and applied toward the payment of the Obligations
owing to 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.

     

    
      
        
        

      

      
        -84-

        
          

        

      

      
        
        

      

    

     

    11.2 Ratable Payments; Sharing of
Set-offs.  (a) If at any time insufficient funds are received
by and available to the Administrative Agent, the European Administrative Agent,
and/or the Canadian Administrative Agent, as applicable, to pay fully all
amounts of principal, unreimbursed Reimbursement Obligations, 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 Reimbursement
Obligations then due hereunder, ratably among the parties entitled thereto in
accordance with the amounts of principal and unreimbursed Reimbursement
Obligations then due to such parties.

     

    (b) 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 Reimbursement Obligations or Swing Line
Loans resulting in such Lender receiving payment of a greater proportion of the
aggregate amount of its Revolving Loans and participations in LC Obligations and
Swing Line 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 Obligations and Swing Line 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
Obligations and Swing Line 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 a 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 Obligations to any assignee or participant, other than to a Borrower 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.

     

     

    
      
        
        

      

      
        -85-

        
          

        

      

      
        
        

      

    

     

    ARTICLE
XII

    BENEFIT
OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS

     

    12.1 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 any LC
Issuer that issues any Facility LC), 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 any LC Issuer that issues any Facility LC), 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 European Administrative Agent, the Canadian Administrative Agent, the LC
Issuer and the Lenders) any legal or equitable right, remedy or claim under or
by reason of this Agreement.

     

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

     

    (B)           the
Administrative Agent, provided that no
consent of the Administrative Agent shall be required for an assignment of any
Commitment to an assignee that is a Lender with a Commitment immediately prior
to giving effect to such assignment;

     

    (C)           each
LC Issuer; and

     

    (D)           each
Swing Line Lender.

     

    (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
assignment of the entire remaining amount of the assigning Lender's Commitment
or Loans, 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 Parent and the Administrative
Agent otherwise consent, provided that no such
consent of the Parent shall be required if a 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;

     

    (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
$4,000;

     

    (D)           the
assignee, if it shall not be a Lender, shall deliver to the Administrative Agent
an Administrative Questionnaire in which the assignee designates one or more
credit contacts to whom all syndicate-level information (which may contain
material non-public information about the Parent and its related parties or its
securities) will be made available and who may receive such information in
accordance with the assignee's compliance procedures and applicable laws,
including Federal and state securities laws; and

     

    (E)           in
the case of an assignment by EDC of all or a portion of its Commitment and
Loans, the Commitment of the assignee shall constitute a Commitment (All
Borrowers), and any necessary adjustments (including prepayment of outstanding
Loans outstanding on the effective date of such assignment and the making of new
Advances) shall be made so that, after giving effect to such assignment (i) each
Lender shall participate in any outstanding Facility LCs (other than any Bank
Guaranties) and Swing Line Loans ratably in accordance with its Pro Rata Share
after giving effect to such assignment and (ii) each Advance outstanding
hereunder shall consist of Revolving Loans made by the Lenders ratably in
accordance with each Lender's Pro Rata Share after giving effect to such
assignment.

     

    
      
        
        

      

      
        -87-

        
          

        

      

      
        
        

      

    

    For the
purposes of this Section 12.1(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 all of the assigning Lender's
rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be entitled to the benefits of Sections 3.1,
3.4, 3.5 and 9.6).  Any
assignment or transfer by a Lender of rights or obligations under this Agreement
that does not comply with this Section 12.1 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 the Borrowers,
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
Obligations owing to, each Lender pursuant to the terms hereof from time to time
(the "Register").  The
entries in the Register shall be conclusive, and the Borrower, the
Administrative Agent, the LC Issuers 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
Borrowers, any LC Issuer 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 2.5.1(d),
2.5.2(d), 2.5.3(d), 2.21, 2.26.5, 2.26.10, or 9.6(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.

     

    
      
        
        

      

      
        -88-

        
          

        

      

      
        
        

      

    

    (c) (i)           Any
Lender may, without the consent of the Parent, the Administrative Agent, any LC
Issuer or any Swing Line 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 LC Issuers 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 8.2 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
3.1, 3.4, and 3.5 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 11.1 as
though it were a Lender, provided such Participant agrees to be subject to Section 11.2 as
though it were a Lender.

     

    (ii) A
Participant shall not be entitled to receive any greater payment under Section 3.1 or 3.5 than the
applicable Lender would have been entitled to receive with respect to the
participation sold to such Participant, unless the sale of the participation to
such Participant is made with the Parent's prior written consent.  A
Participant that would be a Non-U.S. Lender if it were a Lender shall not be
entitled to the benefits of Section 3.5
unless the Parent is notified of the participation sold to such Participant and
such Participant agrees, for the benefit of the Borrowers, to comply with Section 3.5(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.

     

    12.2 Dissemination of
Information.  Each Borrower authorizes each Lender to disclose
to any Participant or eligible assignee or any other Person acquiring an
interest in the Loan Documents by operation of law (each a "Transferee") and any
prospective Transferee any and all information in such Lender's possession
concerning the creditworthiness of the Parent and its Subsidiaries, including
without limitation any information contained in any audit reports pertaining to
the Parent's and its Subsidiaries' assets for internal use by the Administrative
Agent from information furnished to it by or on behalf of the Parent after the
Administrative Agent has exercised its right of inspection pursuant to this
Agreement; provided
that each Transferee and prospective Transferee agrees to be bound by
Section 9.11 of
this Agreement.

     

     

    
      
        
        

      

      
        -89-

        
          

        

      

      
        
        

      

    

    ARTICLE
XIII

    NOTICES

     

    13.1 Notices.  Except
as otherwise permitted by Section 2.17 with
respect to borrowing notices, all notices, requests and other communications to
any party hereunder shall be in writing and shall be delivered by hand or
overnight courier service, mailed by certified or registered mail or sent by
telecopy to such party: in the case of any Borrower, the Administrative Agent,
the European Administrative Agent, or the Canadian Administrative Agent at its
address or facsimile number set out on the signature pages hereof, in the case
of any Lender, at its address or facsimile number set out in its Administrative
Questionnaire or in the case of any party, at such other address or facsimile
number as such party may hereafter specify for the purpose by notice to the
Administrative Agent and any Borrower in accordance with the provisions of this
Section
13.1.  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, the European Administrative Agent,
the Canadian Administrative Agent or any Borrower may, in its discretion, agree
to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it; provided that
approval of such procedures may be limited to particular notices or
communications.  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 day of receipt.

     

    13.2 Change of
Address.  Any Borrower, the Administrative Agent, the European
Administrative Agent, the Canadian Administrative Agent and any Lender may each
change the address for service of notice upon it by a notice in writing to the
other parties hereto.

     

    ARTICLE
XIV

    COUNTERPARTS

     

    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 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 4.1, 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.

     

    
      
        
        

      

      
        -90-

        
          

        

      

      
        
        

      

    

    ARTICLE
XV 

    CHOICE
OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL

     

    15.1 CHOICE OF
LAW.  THE LOAN
DOCUMENTS (OTHER THAN THOSE CONTAINING A CONTRARY EXPRESS CHOICE OF LAW
PROVISION) SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS,
BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL
BANKS.

     

    15.2 CONSENT TO
JURISDICTION.  (a) EACH BORROWER HEREBY IRREVOCABLY
SUBMITS TO THE NON EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR TEXAS
STATE COURT SITTING IN HOUSTON, TEXAS IN ANY ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO ANY LOAN DOCUMENTS AND EACH BORROWER HEREBY IRREVOCABLY AGREES
THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN ANY SUCH COURT.  NOTHING HEREIN SHALL LIMIT THE RIGHT OF
THE ADMINISTRATIVE AGENT, ANY LC ISSUER, OR ANY LENDER TO BRING PROCEEDINGS
AGAINST ANY BORROWER IN THE COURTS OF ANY OTHER JURISDICTION.  ANY
JUDICIAL PROCEEDING BY ANY BORROWER AGAINST THE ADMINISTRATIVE AGENT, ANY LC
ISSUER, OR ANY LENDER OR ANY AFFILIATE OF THE ADMINISTRATIVE AGENT, ANY LC
ISSUER, OR ANY LENDER INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY
ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT SHALL BE BROUGHT
ONLY IN A COURT IN HOUSTON, TEXAS.

     

    (b) THE
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 IN ANY COURT REFERRED TO IN PARAGRAPH (A) 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.

     

    (c) EACH
PARTY TO THIS AGREEMENT IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER
PROVIDED FOR NOTICES IN SECTION 13.1.  NOTHING
IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE
PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

     

    
      
        
        

      

      
        -91-

        
          

        

      

      
        
        

      

    

    15.3 WAIVER OF JURY
TRIAL.  EACH
BORROWER, THE ADMINISTRATIVE AGENT, THE
EUROPEAN ADMINISTRATIVE AGENT, THE CANADIAN ADMINISTRATIVE AGENT, EACH LC ISSUER, AND EACH LENDER
HEREBY WAIVE 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 ANY LOAN DOCUMENT OR THE
RELATIONSHIP ESTABLISHED THEREUNDER.  EACH PARTY HERETO (A) CERTIFIES
THAT NOT 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.

     

    THIS
WRITTEN AGREEMENT AND THE LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

     

    THERE
ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

     

    [Signatures
appear on the following pages.]

     

    

    
      
        
           

        

        
          -92- 

          
            

          

        

        
           

        

      

    

    

    IN
WITNESS WHEREOF, the Borrowers, the Lenders, the LC Issuer, and the
Administrative Agent have executed this Agreement as of the date first above
written.

     

    CAMERON
INTERNATIONAL CORPORATION

    

                                  

      
        	 
      	
                By:

              	 
      	 
      
	 
      	 
      	
                Lorne
      E. Phillips

              
	 
      	 
      	
                Treasurer

              
	 
      	 
      	 
      	 
      
	 
      	
                Address:

              	
                1333
      West Loop South, Suite 1700

              	 
      
	 
      	 
      	
                Houston,
      Texas 77027

              	 
      
	 
      	
                Attention:

              	
                Lorne
      E. Phillips

              	 
      
	 
      	
                Telephone:

              	
                (713)
      513-3336

              	 
      
	 
      	
                Telecopy:

              	
                (713)
      513-3355

              	 
      

      

    

    

    

    
      	
               
      

            	
              CAMERON
      LIMITED

            

    

    
      	
               
      

            	
              CAMERON
      GMBH

            

    

    
      	
               
      

            	
              CAMERON
      (SINGAPORE) PTE. LTD.

            

    

    
      	
               
      

            	
              CAMERON
      CANADA CORPORATION

            

    

    
      	
               
      

            	
              CAMERON
      (LUXEMBOURG) SARL

            

    

    

                                  

      
        	 
      	
                By:

              	 
      	 
      
	 
      	 
      	
                Lorne
      E. Phillips

              
	 
      	 
      	
                Treasurer

              
	 
      	 
      	 
      	 
      
	 
      	
                Address:

              	
                1333
      West Loop South, Suite 1700

              	 
      
	 
      	 
      	
                Houston,
      Texas 77027

              	 
      
	 
      	
                Attention:

              	
                Lorne
      E. Phillips

              	 
      
	 
      	
                Telephone:

              	
                (713)
      513-3336

              	 
      
	 
      	
                Telecopy:

              	
                (713)
      513-3355

              	 
      

      

      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    Commitment:                                                                          JPMORGAN
CHASE BANK, N.A.,

    
      	
              $70,000,000

            	
              individually,
      as Administrative Agent, and as LC
Issuer

            

    

    

      
        	
                US Swing Line
      Commitment:

              	
                By:

              	 
      	 
      
	 
      	
                $25,000,000  

              	
                Helen
      A. Carr

              
	 
      	 
      	
                Managing
      Director

              
	 
      	 
      	 
      	 
      
	 
      	
                Address:

              	
                712
      Main Street, 12th Floor

              	 
      
	 
      	 
      	
                Mail
      Code TX2S039

              	 
      
	 
      	 
      	
                Houston,
      Texas 77002

              	 
      
	 
      	
                Attention:

              	
                Helen
      A. Carr

              	 
      
	 
      	
                Telephone:

              	
                (713)
      216-7711

              	 
      
	 
      	
                Telecopy:

              	
                (713)
      216-7794

              	 
      

      

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    UK Swing Line
Commitment:                                                      J.P.
MORGAN EUROPE LIMITED,

    
      	
              $35,000,000

            	
              as
      European Administrative Agent and UK Swing Line
  Lender

            

    

    

    

      
        	 
      	
                By:

              	 
      	 
      
	 
      	
                Name:

              	 
      	 
      	 
      
	 
      	
                Title:

              	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                Address:

              	 
      125
      London Wall
	 
      	 
      	 London,
      England EC2Y 5AJ
	 
      	 Attention	 
      Agency
	 
      	
                Telephone:

              	 
      44
      207 777 2360
	 
      	
                Telecopy:

              	 
      44
      207 777 2352/2355
	 
      	
                 

              	 
      

      

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Canadian Swing Line
Commitment:                                           JPMORGAN
CHASE BANK, N.A.,

    
      	
              $15,000,000

            	
              TORONTO
      BRANCH, as Canadian Administrative Agent and Canadian Swing Line
      Lender

            

    

    

    

    

    
      	 
      	
              By:

            	 
      	 
      
	 
      	 
      	
              Helen
      A. Carr

            
	 
      	 
      	
              Managing
      Director

            
	 
      	 
      	 
      	 
      
	 
      	
              Address:

            	
              200
      Bay Street, Royal Bank Plaza

            	 
      
	 
      	 
      	
              South
      Tower, Suite 1800

            	 
      
	 
      	 
      	
              Toronto,
      Ontario M5J 2J2

            	 
      
	 
      	
              Attention:

            	
              Indrani
      Lazarus

            	 
      
	 
      	
              Telephone:

            	
              (416)
      981-9218

            	 
      
	 
      	
              Telecopy:

            	
              (416)
      981-9279

            	 
      

    

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Singapore Swing Line
Commitment:                                         JPMORGAN
CHASE, N.A.,

    
      	
              $25,000,000

            	
              SINGAPORE
      BRANCH, as Singapore Swing Line
Lender

            

    

     

     

    
      
        
          	 
      	
                  By:

                	 
      	 
      
	 
      	
                  Name:

                	 
      	 
      	 
      
	 
      	
                  Title:

                	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                  Address:

                	
                   _________________________________________

                
	 
      	 
      	
                  _________________________________________

                
	 
      	 
      	
                   _________________________________________

                
	 
      	
                  Attention:

                	
                  _________________________________________

                
	 
      	
                  Telephone:

                	
                  _________________________________________

                
	 
      	
                  Telecopy:

                	
                  _________________________________________

                

        

    

    

    
 

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    
       

       

      
        	
                Commitment:

                $65,000,000  

              	
                DNB
      NOR BANK ASA

                individually
      and as Syndication Agent

              	 
      

      

       

       

      
        
          	 
      	
                  By:

                	 
      	 
      
	 
      	
                  Name:

                	 
      	 
      
	 
      	
                  Title:

                	 
      	 
      

        

      
        	 
      	
                By:

              	 
      	 
      
	 
      	
                Name:

              	 
      	 
      	 
      
	 
      	
                Title:

              	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                Address:

              	
                200
      Park Avenue, 31st
      Floor

              
	 
      	 
      	
                New
      York, New York 10166

              
	 
      	 
      	 
      
	 
      	
                Attention:

              	
                Espen
      Kvilekval

              
	 
      	
                Telephone:

              	
                212-681-3874

              
	 
      	
                Telecopy:

              	
                212-681-3900

              

      

      

      

     

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    
           

         

         

        
          	
                  Commitment:

                  $65,000,000  

                	
                  EXPORT
      DEVELOPMENT CANADA

                  individually
      and as Syndication Agent

                	 
      

      

      
        

        
          	 
      	
                  By:

                	 
      	 
      
	 
      	
                  Name:

                	 
      	 
      
	 
      	
                  Title:

                	 
      	 
      

        

         

        
 

        
          
            	 
      	
                    By:

                  	 
      	 
      
	 
      	
                    Name:

                  	 
      	 
      	 
      
	 
      	
                    Title:

                  	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                    Address:

                  	
                     _________________________________________

                  
	 
      	 
      	
                    _________________________________________

                  
	 
      	 
      	
                     _________________________________________

                  
	 
      	
                    Attention:

                  	
                    _________________________________________

                  
	 
      	
                    Telephone:

                  	
                    _________________________________________

                  
	 
      	
                    Telecopy:

                  	
                    _________________________________________

                  

          

        

       

      
 

      
        
          
            
              Signature
Page to Credit Agreement

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

    

    
       

      
        	
                Commitment:

                $65,000,000  

              	
                THE
      BANK OF TOKYO-MITSUBISHI UFJ LTD

                individually
      and as Syndication Agent

              	 
      

    

     

    
      
        
          
            	 
      	
                    By:

                  	 
      	 
      
	 
      	
                    Name:

                  	 
      	 
      	 
      
	 
      	
                    Title:

                  	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                    Address:

                  	
                     _________________________________________

                  
	 
      	 
      	
                    _________________________________________

                  
	 
      	 
      	
                     _________________________________________

                  
	 
      	
                    Attention:

                  	
                    _________________________________________

                  
	 
      	
                    Telephone:

                  	
                    _________________________________________

                  
	 
      	
                    Telecopy:

                  	
                    _________________________________________

                  

          

        

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
    

    
      
        	
                Commitment:

                $65,000,000  

              	
                THE
      ROYAL BANK OF SCOTLAND PLC,

                individually
      and as Syndication Agent

              	 
      

    

     

    
      
        

        
          	 
      	
                  By:

                	 
      	 
      
	 
      	
                  Name:

                	 
      	 
      
	 
      	
                  Title:

                	 
      	 
      

        

         

        
 

      

    

    
      
        
          
            
              	 
      	
                      By:

                    	 
      	 
      
	 
      	
                      Name:

                    	 
      	 
      	 
      
	 
      	
                      Title:

                    	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                      Address:

                    	
                       _________________________________________

                    
	 
      	 
      	
                      _________________________________________

                    
	 
      	 
      	
                       _________________________________________

                    
	 
      	
                      Attention:

                    	
                      _________________________________________

                    
	 
      	
                      Telephone:

                    	
                      _________________________________________

                    
	 
      	
                      Telecopy:

                    	
                      _________________________________________

                    

            

          
                                                                  

        

      

    

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

     

    

      
      

      
        
          	
                  Commitment:

                  $50,000,000  

                	
                  BANCO
      BILBAO VIZCAYA ARGENTARIA

                   

                	 
      

      

       

      
        
          

          
            	 
      	
                    By:

                  	 
      	 
      
	 
      	
                    Name:

                  	 
      	 
      
	 
      	
                    Title:

                  	 
      	 
      

          

           

          
 

        

      

      
        
          
            
              
                	 
      	
                        By:

                      	 
      	 
      
	 
      	
                        Name:

                      	 
      	 
      	 
      
	 
      	
                        Title:

                      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                        Address:

                      	
                         _________________________________________

                      
	 
      	 
      	
                        _________________________________________

                      
	 
      	 
      	
                         _________________________________________

                      
	 
      	
                        Attention:

                      	
                        _________________________________________

                      
	 
      	
                        Telephone:

                      	
                        _________________________________________

                      
	 
      	
                        Telecopy:

                      	
                        _________________________________________

                      

              

          

        

      

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    
      

        
        

        
          
            	
                    Commitment:

                    $50,000,000  

                  	
                    BAYERISCHE
      HYPO-UND VEREINSBANK, AG

                     

                  	 
      

        

         

        
          
            

            
              	 
      	
                      By:

                    	 
      	 
      
	 
      	
                      Name:

                    	 
      	 
      
	 
      	
                      Title:

                    	 
      	 
      

            

             

            
 

          

        

        
          
            
              
                
                  	 
      	
                          By:

                        	 
      	 
      
	 
      	
                          Name:

                        	 
      	 
      	 
      
	 
      	
                          Title:

                        	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                          Address:

                        	
                           _________________________________________

                        
	 
      	 
      	
                          _________________________________________

                        
	 
      	 
      	
                           _________________________________________

                        
	 
      	
                          Attention:

                        	
                          _________________________________________

                        
	 
      	
                          Telephone:

                        	
                          _________________________________________

                        
	 
      	
                          Telecopy:

                        	
                          _________________________________________

                        

                

                                                                                          

            

          

        

      

    

    

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

     

       

    

      
      

      
        
          	
                  Commitment:

                  $50,000,000  

                	
                  UBS
      LOAN FINANCE LLC

                   

                	 
      

      

       

      
        
          

          
            	 
      	
                    By:

                  	 
      	 
      
	 
      	
                    Name:

                  	 
      	 
      
	 
      	
                    Title:

                  	 
      	 
      

          

           

          
 

        

      

      
        
          
            
              
                	 
      	
                        By:

                      	 
      	 
      
	 
      	
                        Name:

                      	 
      	 
      	 
      
	 
      	
                        Title:

                      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                        Address:

                      	
                         _________________________________________

                      
	 
      	 
      	
                        _________________________________________

                      
	 
      	 
      	
                         _________________________________________

                      
	 
      	
                        Attention:

                      	
                        _________________________________________

                      
	 
      	
                        Telephone:

                      	
                        _________________________________________

                      
	 
      	
                        Telecopy:

                      	
                        _________________________________________

                      

              

                                                                                              

          

        

      

    

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

         

    
      

        
        

        
          
            	
                    Commitment:

                    $35,000,000  

                  	
                    AMEGY
      BANK NATIONAL ASSOCIATION

                     

                  	 
      

        

         

        
          
            
              
                
                  	 
      	
                          By:

                        	 
      	 
      
	 
      	
                          Name:

                        	 
      	 
      	 
      
	 
      	
                          Title:

                        	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                          Address:

                        	
                           _________________________________________

                        
	 
      	 
      	
                          _________________________________________

                        
	 
      	 
      	
                           _________________________________________

                        
	 
      	
                          Attention:

                        	
                          _________________________________________

                        
	 
      	
                          Telephone:

                        	
                          _________________________________________

                        
	 
      	
                          Telecopy:

                        	
                          _________________________________________

                        

                

                                                                                                 

            

          

        

      

    

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

     

    
      
        
          
          

          
            
              	
                      Commitment:

                      $35,000,000  

                    	
                      CITIBANK,
      N.A.,

                       

                    	 
      

          

           

          
            
              
                
                  
                    	 
      	
                            By:

                          	 
      	 
      
	 
      	
                            Name:

                          	 
      	 
      	 
      
	 
      	
                            Title:

                          	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                            Address:

                          	
                             _________________________________________

                          
	 
      	 
      	
                            _________________________________________

                          
	 
      	 
      	
                             _________________________________________

                          
	 
      	
                            Attention:

                          	
                            _________________________________________

                          
	 
      	
                            Telephone:

                          	
                            _________________________________________

                          
	 
      	
                            Telecopy:

                          	
                            _________________________________________

                          

                  

                                                                                                 

              

            

          

        

      

    

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
       

      
        
          
            
            

            
              
                	
                        Commitment:

                        $35,000,000  

                      	
                        STANDARD
      CHARTERED BANK

                      	 
      

              

               

               

              
                
                  
                    

                    
                      	 
      	
                              By:

                            	 
      	 
      
	 
      	
                              Name:

                            	 
      	 
      
	 
      	
                              Title:

                            	 
      	 
      

                    

                     

                    

                  

                

              

            

             

            
              
                
                  
                    
                      	 
      	
                              By:

                            	 
      	 
      
	 
      	
                              Name:

                            	 
      	 
      	 
      
	 
      	
                              Title:

                            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                              Address:

                            	
                               _________________________________________

                            
	 
      	 
      	
                              _________________________________________

                            
	 
      	 
      	
                               _________________________________________

                            
	 
      	
                              Attention:

                            	
                              _________________________________________

                            
	 
      	
                              Telephone:

                            	
                              _________________________________________

                            
	 
      	
                              Telecopy:

                            	
                              _________________________________________

                            

                    

                

              

            

          

        

      

    

    
                                                                    

    

    

    
      
        
          
            Signature
Page to Credit Agreement

          

           

        

        
           

          
            

          

        

        
           

        

      

    

    

    
           

        
PRICING
SCHEDULE

      

       

      
        	
                Applicable
      Margin

              	
                Level
      I Status

              	
                Level
      II Status

              	
                Level
      III Status

              	
                Level
      IV Status

              	
                Level
      V Status

              	
                Level
      VI Status

              
	
                Facility
      Fee

              	
                 
      6.0 bps

              	
                7.5
      bps

              	
                9.0
      bps

              	
                11.0
      bps

              	
                15.0
      bps

              	
                17.5
      bps

              
	
                Eurocurrency
      Margin

              	
                24.0
      bps

              	
                27.5
      bps

              	
                31.0
      bps

              	
                39.0
      bps

              	
                50.0
      bps

              	
                72.5
      bps

              
	
                Financial
      Letter of Credit Fee

              	
                24.0 bps

              	
                27.5
      bps

              	
                31.0
      bps

              	
                39.0
      bps

              	
                50.0
      bps

              	
                72.5
      bps

              
	
                Performance
      Letter of Credit Fee

              	
                12.00
      bps

              	
                13.75
      bps

              	
                15.5
      bps

              	
                19.5
      bps

              	
                25.0
      bps

              	
                36.25
      bps

              
	
                Documentary
      Letter of Credit Fee

              	
                   6.0
      bps

              	
                7.0
      bps

              	
                7.75
      bps

              	
                9.75
      bps

              	
                12.5
      bps

              	
                18.25
      bps

              
	
                Usage
      Fee (>50%)

              	
                10.0 
      bps

              	
                10.0
      bps

              	
                10.0
      bps

              	
                10.0
      bps

              	
                10.0
      bps

              	
                10.0
      bps

              
	
                All-In
      Drawn Spread

              	
                40.0 
      bps

              	
                45.0
      bps

              	
                50.0
      bps

              	
                60.0
      bps

              	
                75.0
      bps

              	
                100.0
      bps

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      

      

      For the
purposes of this Schedule, the following terms have the following meanings,
subject to the final paragraph of this Schedule:

       

      "Level I Status"
exists at any date if, on such date, the Parent's Moody's Rating is A2 or better
or the Parent's S&P Rating is A or better.

       

      "Level II Status"
exists at any date if, on such date, (a) the Parent has not qualified for Level
I Status and (ii) the Parent's Moody's Rating is A3 or better or the Parent's
S&P Rating is A- or better.

       

      "Level III Status"
exists at any date if, on such date, (a) the Parent has not qualified for Level
I Status or Level II Status and (ii) the Parent's Moody's Rating is Baa1 or
better or the Parent's S&P Rating is BBB+ or better.

       

      "Level IV Status"
exists at any date if, on such date, (a) the Parent has not qualified for Level
I Status, Level II Status or Level III Status and (ii) the Parent's Moody's
Rating is Baa2 or better or the Parent's S&P Rating is BBB or
better.

       

      "Level V Status"
exists at any date if, on such date, (a) the Parent has not qualified for Level
I Status, Level II Status, Level III Status or Level IV Status and (ii) the
Parent's Moody's Rating is Baa3 or better or the Parent's S&P Rating is BBB-
or better.

       

      "Level VI Status"
exists at any date if, on such date, the Parent has not qualified for Level I
Status, Level II Status,  Level III Status, Level IV Status or Level V
Status.

       

      
        
          
            Pricing
Schedule to Credit Agreement

            -i-

          

        

        
          
             

          

          
            

          

        

        
          
          

        

      

      "Moody's Rating"
means, at any time, the rating issued by Moody's and then in effect with respect
to the Parent's senior unsecured long-term debt securities without third-party
credit enhancement.

       

      "S&P Rating"
means, at any time, the rating issued by S&P and then in effect with respect
to the Parent's senior unsecured long-term debt securities without third-party
credit enhancement.

       

      "Status" means either
Level I Status, Level II Status, Level III Status, Level IV Status, Level V
Status or Level VI Status.

       

      The
Applicable Margin and Applicable Fee Rate shall be determined in accordance with
the foregoing table based on the Parent's Status as determined by the
then-current Moody's and S&P Ratings.  The credit rating in effect
on any date for the purposes of this Schedule is that in effect at the close of
business on such date.  If at any time the Parent has neither a
Moody's Rating nor an S&P Rating, then Level VI Status, or such other
pricing level as may be agreed by the Parent, the Administrative Agent, and the
Lenders, shall exist.  If the credit ratings from Moody's and S&P
fall within different categories, the Applicable Margin and Applicable Fee Rate
shall be based on the higher of the two ratings unless the lower rating is two
or more levels below the higher rating, in which case the rating which is one
level above the lower rating will apply.  If at any time the Parent
has only a single rating from either Moody's or S&P, then the Applicable
Margin and Applicable Fee Rate shall be based on the sole remaining
rating.

       

      

      
        
          
            
              Pricing
Schedule to Credit Agreement

              -ii-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      EXHIBIT
A-1

       

      FORM
OF IN-HOUSE COUNSEL OPINION

       

      See
Attached

       

      

      
        
          
            
              Exhibit
A-1 to Credit Agreement

              -i-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      APRIL
14, 2008

       

      JPMorgan
Chase Bank, N.A., as Administrative Agent

      600
Travis Street, 20th Floor

      Houston,
Texas 77002

      Attention:  Helen
Carr

      

      and

      

      Each of
the Financial Institutions

      Identified
on Schedule I
hereto

      

      Ladies
and Gentlemen:

       

      I have
acted as General Counsel for Cameron International Corporation, a Delaware
corporation (the "Parent"), and as
Corporate Counsel for each of Cameron Limited, Cameron GmbH, Cameron (Singapore)
Pte. Ltd., Cameron (Luxembourg) SARL, and Cameron Canada Corporation (each a
"Borrowing
Subsidiary" and collectively, the "Borrowing
Subsidiaries"), in connection with the Credit Agreement dated as of April
14, 2008 (the "Credit
Agreement"), among the Parent, the Borrowing Subsidiaries, the Lenders
from time to time party to the Credit Agreement, The Royal Bank of Scotland
plc, The Bank of Toyko-Mitsubishi UFJ, Ltd., DnB NOR Bank ASA, and Export
Development Canada, as Syndication Agents, and JPMorgan Chase Bank, N.A., as
Administrative Agent ("Agent") providing for
extensions of credit to the Parent and the Borrowing
Subsidiaries.  Terms defined in the Credit Agreement, and not
otherwise defined in this opinion letter, have the meanings given them in the
Credit Agreement.

       

      This
opinion is delivered to the addressees hereof upon the express instructions and
request of the Parent pursuant to Section 4.1.1(d)
of the Credit Agreement.

       

      In
rendering the opinion expressed below, I have examined originals, or copies
certified or otherwise identified to my satisfaction, of such corporate records,
agreements, instruments and documents of the Parent and the Borrowing
Subsidiaries, and certificates or other statements of public officials and
corporate officers, and have made such other investigation of fact and law, as I
have deemed necessary in connection with the opinions set forth herein. In my
examination, I have assumed the genuineness of all documents submitted to me as
originals and the conformity to originals of all documents submitted to me as
copies.

       

      Based
upon the foregoing, and subject to the comments and exceptions hereinafter set
forth, and having regard for such legal considerations I deem relevant, I am of
the opinion that:

       

      1. The
Parent is a corporation duly incorporated, validly existing and in good standing
under the laws of Delaware.  The Parent is, to the extent required and
appropriate under applicable law, duly qualified, in good standing and duly
authorized to conduct business as a foreign corporation in the jurisdictions
specified in Schedule
II hereto.

       

      
        
          
            Exhibit
A-1 to Credit Agreement

            -2-

          

        

        
          
          

          
            

          

        

        
          
          

        

      

      2. The
Parent has all requisite corporate power and authority to execute, deliver and
perform its obligations under each of the Loan Documents, as defined in the
Credit Agreement, to which it is a party, to own its assets and to carry on its
business as presently conducted.

       

      3. The
execution, delivery and performance of the Parent and each Borrowing Subsidiary
of each of the Loan Documents to which it is a party do not (a) violate any
provision of law, rule or regulation (including, without limitation, Regulations
T, U and X of the Board of Governors of the Federal Reserve System), or of any
order, writ, judgment, decree, determination or award, which is presently in
effect having applicability to such company, (b) conflict with or result in a
breach of, or constitute a default under, the certificate or articles of
incorporation, bylaws or other charter documents of the Parent or any Borrowing
Subsidiary, (c) conflict with or result in a breach of, or constitute a default
under, any material indenture, loan or credit agreement or other agreement or
instrument for borrowed money known to me to which the Parent or any Borrowing
Subsidiary is a party or by which the Parent or any Borrowing Subsidiary or any
of any such company's property is bound, or (d) result in or require the
creation or imposition of any Lien of any nature (except Liens permitted under
the Credit Agreement) upon or with respect to any of the properties now owned or
hereafter acquired by the Parent or any Borrowing Subsidiary.

       

      4. Each of
the Loan Documents has been duly authorized, executed and delivered by the
Parent and any Borrowing Subsidiary party thereto.

       

      5. No
authorization, consent, approval, license, qualification or formal exemption
from or filing, declaration or registration with, any court, governmental agency
or other regulatory authority or any securities exchange is required in
connection with the execution, delivery or performance by the Parent or any
Borrowing Subsidiary of the Loan Documents to which it is a party, except such
as have been previously obtained and remain in full force and
effect.

       

      6. There is
no action, suit, proceeding, governmental investigation or arbitration pending
or, to my knowledge, threatened against the Parent or any Borrowing Subsidiary
or any material property thereof before any court or arbitrator or any
governmental or administrative body, agency or official which (a) challenges the
validity, or seeks to enjoin the performance of, any Loan Document or (b) could
reasonably be expected to have a Material Adverse Effect.

       

      7. The
Parent is not an "investment company" or a company "controlled" by an
"investment company" within the meaning of the Investment Company Act of 1940,
as amended.

       

      
        
           

            Exhibit
A-1 to Credit Agreement

            -3-

          

        

        
          
          

          
            

          

        

        
          
          

        

      

      With
respect to the opinion set forth in paragraph 1 above, to the extent
appropriate, I have relied exclusively upon certificates provided to me by the
secretaries of state (or equivalent officials) of the jurisdictions in which the
Parent is incorporated and in which it is qualified to do business.

       

      With
respect to the opinion set forth in paragraph 3 above, insofar as a review of
the indentures, loan or credit agreements or other agreements or instruments for
borrowed money, I have reviewed only those instruments filed with the Securities
and Exchange Commission as an exhibit to any of the Parent's Form 10-Q, 10-K or
8-K reports or Registration Statements on Form S 4.

       

      With
respect to the opinion set forth in paragraph 6 above, I have made inquiry of
those attorneys in the legal department of the Parent who are responsible for
managing litigation, have caused a search of the pending litigation to be made
in the District Clerk's office for Harris County, Texas and the Clerk for the
U.S. District Court for the Southern District of Texas, and have
relied  on the Parent's disclosure of legal proceedings in its Form
10-K for the year ended December 31, 2007.

       

      This
opinion is limited to the General Corporation Law of the State of Delaware and
the federal laws of the United States of America.

       

      This
opinion is limited to such laws and facts as they presently
exist.  I  assume no obligation to revise or supplement this
opinion should the present General Corporation Law of the State of Delaware or
applicable federal laws of the United States of America be changed by
legislative action, judicial decision or otherwise.

       

      This
opinion letter is furnished solely for your benefit in connection with the
transactions referred to in the Credit Agreement and may not, without my
permission, be circulated to, or relied upon by, any other Person, except Porter
& Hedges, L.L.P., the Agent, the Lenders, any party that becomes a
Participant, Lender or Agent under the Credit Agreement after the date hereof
pursuant to the terms of the Credit Agreement, and any of their respective
auditors, attorneys, loan participants, and assignees or as required by law or
order of a court or other legal process.

       

      Very
truly yours,

      

      

      

      William
C. Lemmer

      

      
        
          
            
              Exhibit
A-1 to Credit Agreement

              -4-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      SCHEDULE
I

       

      LENDERS

       

      JPMorgan
Chase Bank, N.A.

      JPMorgan
Chase Bank, N.A., Toronto Branch

      J.P.
Morgan Europe Limited

      [Lenders]

      

      
        
          
            
              Exhibit
A-1 to Credit Agreement

              -5-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      EXHIBIT
A-2

       

      FORM
OF OUTSIDE COUNSEL OPINION

       

      See
Attached

       

      

      
        
          
            
              Exhibit
A-2 to Credit Agreement

              -1-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      APRIL
14, 2008

       

      JPMorgan
Chase Bank, N.A., as Administrative Agent

      600
Travis Street, 20th Floor

      Houston,
Texas 77002

      

      and

      

      Each of
the Financial Institutions Identified on Schedule I
hereto

      

      and

      

      Cameron
International Corporation

      1333 West
Loop South, Suite 1700

      Houston,
Texas 77027

      Attention:  William
C. Lemmer, General Counsel

      

      Ladies
and Gentlemen:

       

      We have
acted as special counsel to Cameron International Corporation (the "Borrower") and
Cameron Limited, Cameron GmbH, Cameron (Singapore) Pte. Ltd., Cameron Canada
Corporation, and Cameron (Luxembourg) SARL (the "Borrowing
Subsidiaries" and together with the Borrower, the "Loan Parties") in
connection with the Credit Agreement dated as of April 14, 2008 (the "Credit Agreement")
among the Borrower, the Borrowing Subsidiaries, the Lenders from time to time
party to the Credit Agreement, The Royal Bank of Scotland
plc, The Bank of Toyko-Mitsubishi UFJ, Ltd., DnB NOR Bank ASA, and Export
Development Canada, as Syndication Agents, and JPMorgan Chase Bank, N.A., as
Administrative Agent ("Agent"), providing
for extensions of credit to the Loan Parties.  Terms defined in the
Credit Agreement, and not otherwise defined in this opinion letter, have the
meanings given them in the Credit Agreement.

       

      This
opinion letter is delivered to the addressees upon the express instruction and
request of the Borrower pursuant to Section 4.1.1(e)
of the Credit Agreement.

       

      In
rendering the opinions expressed below, we have examined the Credit Agreement
and the Guaranty (collectively, the "Documents"), and
originals or conformed copies of such corporate records, agreements, and
instruments of the Loan Parties, certificates of public officials and of
officers of such Persons, and such other documents and records, and such matters
of law, as we have deemed appropriate.  We have relied upon the
opinion, dated the date hereof, of William C. Lemmer, General Counsel of the
Borrower and Corporate Counsel of each Borrowing Subsidiary, with respect to the
organization, existence, good standing, power and capacity of the Borrower and
the Borrowing Subsidiaries.  We have assumed (i) the genuineness of
all signatures of, and the authority of, persons signing the Documents on behalf
of parties thereto other than the Loan Parties, (ii) the authenticity of all
documents submitted to us as originals, (iii) the conformity to authentic
original documents of all documents submitted to us as certified, conformed, or
photostatic copies, (iv) the due authorization, execution, and delivery of the
Documents by the parties thereto other than the Loan Parties, and (v) that all
documents, books and records made available to us by the Loan Parties are
accurate and complete.

       

      
        
           Exhibit
A-2 to Credit Agreement

            -2-

          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Based
upon the foregoing, we are of the opinion that:

       

      1. The
execution, delivery and performance of the Documents to which the Borrower is a
party do not violate any provision of Texas law which is customarily applicable
to the transactions of the type contemplated in the Documents, and such
Documents constitute the legal, valid and binding obligations of the Borrower
enforceable against it in accordance with their respective terms.

       

      2. The
execution, delivery and performance of the Documents to which each Borrowing
Subsidiary is a party do not violate any provision of Texas law which is
customarily applicable to the transactions of the type contemplated in the
Documents, and such Documents constitute the legal, valid and binding
obligations of such Borrowing Subsidiary enforceable against it in accordance
with their respective terms.

       

      3. No
authorization, consent, approval, license, qualification or formal exemption
from or filing, declaration or registration with, any court, governmental agency
or other regulatory authority or any securities exchange is required in
connection with the execution, delivery or performance by any Loan Party of the
Documents to which it is a party, except such as have been previously obtained
and remain in full force and effect.

       

      The
foregoing opinions are subject to the following assumptions, limitations, and
qualifications:

       

      A. The
enforceability of the Documents may be subject to: (i) bankruptcy, insolvency,
reorganization, moratorium, fraudulent transfer or similar laws affecting the
enforcement of creditors' rights generally; (ii) general principles of equity
(regardless of whether such enforceability is considered in a proceeding at law
or in equity); and (iii) matters of public policy.  Without limiting
the foregoing, Texas courts or Federal courts applying Texas law may deny or
limit the enforceability of clauses or provisions that purport to: (i) give the
right of specific performance; (ii) limit or expand the rights of set-off; or
(iii) limit jurisdiction of any courts, establish any exclusive venue or
establish evidentiary standards.

       

      B. We
express no opinion with respect to (i) the enforceability of provisions in the
Documents relating to delay or omission of enforcement of rights or remedies, or
waivers of defenses, or waivers of benefits of appraisement, valuation, stay,
extension, moratorium, redemption, statutes of limitation, or other nonwaivable
benefits bestowed by operation of law; or (ii) the lawfulness or enforceability
of exculpation clauses, clauses relating to releases of unmatured claims,
clauses purporting to waive unmatured rights, severability clauses and similar
clauses in the Documents.

       

      C. Provisions
of the Documents which permit the Agent or the Lenders to take action or make
determinations may be subject to a requirement that such action be taken or such
determinations be made on a reasonable basis and in good faith.

       

      
        
           Exhibit
A-2 to Credit Agreement 

            -3-

          

        

        
          
          

          
            

          

        

        
          
          

        

      

      We are
admitted to practice in the State of Texas and render no opinion as to matters
involving the laws of any jurisdiction other than the laws of the State of Texas
and applicable federal laws of the United States of America.

       

      This
opinion is limited to such laws and facts as they presently exist.  We
assume no obligation to revise or supplement this opinion should the present
laws of the State of Texas or applicable federal laws of the United States of
America be changed by legislative action, judicial decision or
otherwise.

       

      This
opinion letter is furnished solely for your benefit in connection with the
transactions referred to in the Credit Agreement and may not, without our
permission, be circulated to, or relied upon by, any other Person, except the
Agent, the Lenders, any party that becomes a Participant, Lender or Agent under
the Credit Agreement after the date hereof pursuant to the terms of the Credit
Agreement, and any of their respective auditors, attorneys, loan participants,
and assignees or as required by law or order of a court or other legal
process.

       

      Very
truly yours,

      

      

      

      PORTER
& HEDGES, L.L.P.

      

      
        
          
            
              Exhibit
A-2 to Credit Agreement

              -4-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      SCHEDULE
I

       

      JPMorgan
Chase Bank, N.A.

      JPMorgan
Chase Bank, N.A., Toronto Branch

      J.P.
Morgan Europe Limited

      [Lenders]

      

      
        
          
            
              Exhibit
A-2 to Credit Agreement

              -5-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      EXHIBIT
B

       

      FORM
OF COMPLIANCE CERTIFICATE

       

      To:           The
Lenders parties to the

      Credit Agreement Described
Below

      

      This
Compliance Certificate is furnished pursuant to that certain Credit Agreement
dated as of April 14, 2008, (as amended, modified, renewed or extended from time
to time, the "Agreement") among
Cameron International Corporation (the "Parent"), Cameron
Limited, Cameron GmbH, Cameron (Singapore) Pte. Ltd., Cameron Canada
Corporation, Cameron (Luxembourg) SARL, the lenders party thereto and JPMorgan
Chase Bank, N.A., as Administrative Agent for the Lenders and as LC
Issuer.  Unless otherwise defined herein, capitalized terms used in
this Compliance Certificate have the meanings ascribed thereto in the
Agreement.

       

      THE
UNDERSIGNED HEREBY CERTIFIES THAT:

       

      1. I am the
duly elected ____________________ of the Parent;

       

      2. I have
reviewed the terms of the Agreement and I have made, or have caused to be made
under my supervision, a detailed review of the transactions and conditions of
the Parent and its Subsidiaries during the accounting period covered by the
attached financial statements;

       

      3. The
examinations described in Section 2 did
not disclose, and I have no knowledge of, the existence of any condition or
event which constitutes a Default or Unmatured Default during or at the end of
the accounting period covered by the attached financial statements or as of the
date of this Certificate, except as set out below; and

       

      4. Schedule I attached
hereto sets forth financial data and computations evidencing the Parent's
compliance with certain covenants of the Agreement, all of which data and
computations are true, complete and correct.

       

      5. With
respect to the determination of the interest rates to be paid for Advances, the
LC Fee rates, the Facility Fee rates, and the Usage Fee rates commencing on the
fifth day following the delivery hereof, Level [___] Status (as defined in
the Pricing
Schedule) exists as of the date hereof.

       

      6. Schedule II attached
hereto sets forth the various reports and deliveries which are required at this
time under the Credit Agreement and the other Loan Documents and the status of
compliance.

       

      Described
below are the exceptions, if any, to Section 3 by
listing, in detail, the nature of the condition or event, the period during
which it has existed and the action which any Borrower has taken, is taking, or
proposes to take with respect to each such condition or event:

       

      

       

      
        
          
            Exhibit B
to Credit Agreement

            -1-

          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      7. The [quarterly] [annual] financial
statements required to be furnished by Parent under Section 6.1[(a)][(b)]
of the Agreement are available on-line through EDGAR.

       

      The
foregoing certifications, together with the computations set out in Schedule I hereto and
the financial statements delivered with this Certificate in support hereof, are
made and delivered this  day of ___________ __, 200__.

       

      

      
        
          
            
              Exhibit B
to Credit Agreement

              -2-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      SCHEDULE
I

       

      TO
COMPLIANCE CERTIFICATE

       

      Compliance
as of __________  ___, 200__ with

       

      Provisions
of  Sections 6.20 of
the Agreement

       

      

      
        
          
            
              Exhibit B
to Credit Agreement

              -3-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      SCHEDULE
II

       

      TO
COMPLIANCE CERTIFICATE

       

      Reports
and Deliveries Currently Due

       

      

      
        
          
            
              Exhibit B
to Credit Agreement

              -4-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      EXHIBIT
C

       

      FORM
OF ASSIGNMENT AND ASSUMPTION AGREEMENT

       

      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.  

              	
                Borrower(s):Cameron
      International Corporation, and certain Borrowing
    Subsidiaries

              

      

       

      
        	
                4.  

              	
                Administrative
      Agent:JPMorgan Chase Bank, N.A., as the administrative agent under the
      Credit Agreement

              

      

       

      
        	
                5.  

              	
                Credit
      Agreement:The Credit Agreement dated as of April 14, 2008 among Cameron
      International Corporation, as Parent, the other Borrowers named therein,
      the Lenders parties thereto, JPMorgan Chase Bank, N.A., as Administrative
      Agent, and the other agents parties
thereto

              

      

       

      
        
          
            Exhibit C
to Credit Agreement

            -1-

          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                6.  

              	
                Assigned
      Interest:

              

      

       

      
        	
                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
Assignee agrees to deliver to the Administrative Agent a completed
Administrative Questionnaire in which the Assignee designates one or more Credit
Contacts to whom all syndicate-level information  (which may contain
material non-public information about the Parent and its Related Parties or
their respective securities) will be made available and who may receive such
information in accordance with the Assignee's compliance procedures and
applicable laws, including Federal and state securities laws.

       

      

        

      

        
        1 Select
as applicable.

      

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

      

      

      
        
          
            
              Exhibit C
to Credit Agreement

              -2-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

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

       

      ASSIGNOR:

      

      [NAME OF
ASSIGNOR]

      

      

      

      By:                                                                      

      Name:                                                                      

      Title:                                                                      

      

      ASSIGNEE:

      

      [NAME OF
ASSIGNEE]

      

      

      

      By:                                                                      

      Name:                                                                      

      Title:                                                                      

      

      [Consented
to and]3
Accepted:

      

      JPMORGAN
CHASE BANK, N.A., as Administrative Agent

      

      

      

      By:                                                                

      Name:                                                                

      Title:                                                                

      

      [Consented
to:]4

      

      [NAME OF
RELEVANT PARTY]

      

      

      

      By:                                                                

      Name:                                                                

      Title:                                                                

      

        

      

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

      

        
        4 To be
added only if the consent of the Parent and/or other parties (e.g. Swing Line
Lenders, LC Issuers) is required by the terms of the Credit
Agreement.

      

      

      
        
          
            
              Exhibit C
to Credit Agreement

              -3-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      ANNEX
1

      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 Parent, 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 Parent, 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 6.1(a)
or (b) 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 Non-U.S.
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.

       

      
        
          
            Exhibit C
to Credit Agreement

            -4-

          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      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 Texas.

       

      

      

      
        
          
            
              Exhibit C
to Credit Agreement

              -5-

            

             

          

          
             

            
              

            

          

          
             

          

        

      

      

      EXHIBIT
D

       

      FORM
OF LOAN/CREDIT RELATED MONEY TRANSFER INSTRUCTION

       

      To
JPMorgan Chase Bank, N.A.,

      as
Administrative Agent (the "Administrative
Agent"), JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian
Administrative Agent (the "Canadian Administrative
Agent"), and J.P. Morgan Europe Limited, as European Administrative Agent
(the "European
Administrative Agent") under the Credit Agreement

      Described
Below.

       

      
        	
                 
      

              	
                Re:

              	
                Credit
      Agreement dated April 14, 2008 (as the same may be amended or modified,
      the "Credit
      Agreement"), among Cameron International Corporation, Cameron
      Limited, Cameron GmbH, Cameron (Singapore) Pte. Ltd., Cameron Canada
      Corporation, Cameron (Luxembourg) SARL, the Lenders named therein, the LC
      Issuer, and the Administrative Agent.  Capitalized terms used
      herein and not otherwise defined herein shall have the meanings assigned
      thereto in the Credit Agreement.

              

      

       

      Each of
the Administrative Agent, the Canadian Administrative Agent, and the European
Administrative Agent is specifically authorized and directed to act upon the
following standing money transfer instructions with respect to the proceeds of
Advances or other extensions of credit from time to time until receipt by the
Administrative Agent, the Canadian Administrative Agent, or the European
Administrative Agent, as applicable, of a specific written revocation of such
instructions by any Borrower, provided that the
Administrative Agent, the Canadian Administrative Agent, and the European
Administrative Agent may otherwise transfer funds as hereafter directed in
writing by any Borrower in accordance with Section 13.1 of
the Credit Agreement or based on any telephonic notice made in accordance with
Section 2.14 of
the Credit Agreement.

       

      Facility
Identification Number(s)                                                                                                                                          

       

      Customer/Account
Name                                                                                                                                              

       

      Transfer
Funds To                                                                                                                                                      

      

       

      For
Account No.                                                                                                                                                      

          

      Reference/Attention To                                                                                                                                                  

       

      Authorized
Officer (Customer Representative)                                                                                                                                          Date              

       

      
                                                 

        (Please
Print)                                                                           Signature

         

         

        
           

          
            

            
              
                
                  Exhibit D
to Credit Agreement

                  -1-

                

              

              
                
                

                
                  

                

              

              
                
                

              

            

          

        

        Bank
Officer
Name                                                                           Date                                                                

        

        

         

                                                                     

        (Please
Print)                                                                           Signature

         

        (Deliver
Completed Form to Credit Support Staff For Immediate Processing)

         

        
          
            
              Exhibit D
to Credit Agreement

              -2-

            

             

          

          
             

            
              

            

          

          
             

          

        

        EXHIBIT
E

         

        FORM
OF NOTE

         

        [Date]

        

        [Cameron International Corporation, a
Delaware corporation] (the "Borrower"), promises
to pay to the order of ____________________________________ (the "Lender") the
aggregate unpaid principal amount of all Loans made by the Lender to any
Borrower pursuant to Article II of
the Agreement (as hereinafter defined), in immediately available funds at the
main office of JPMorgan Chase Bank, N.A. in Chicago, Illinois, as Administrative
Agent, together with interest on the unpaid principal amount hereof at the rates
and on the dates set out in the Agreement.  The Borrower shall pay the
principal of and accrued and unpaid interest on the Loans in full on the
Commitment Maturity Date.

         

        The
Lender shall, and is hereby authorized to, record on the schedule attached
hereto, or to otherwise record in accordance with its usual practice, the date
and amount of each Loan and the date and amount of each principal payment
hereunder.

         

        This Note
is one of the Notes issued pursuant to, and is entitled to the benefits of, the
Credit Agreement dated as of April 14, 2008 (which, as it may be amended or
modified and in effect from time to time, is herein called the "Agreement"), among
the Borrower, the lenders party thereto, including the Lender, and JPMorgan
Chase Bank, N.A., As Administrative Agent, to which Agreement reference is
hereby made for a statement of the terms and conditions governing this Note,
including the terms and conditions under which this Note may be prepaid or its
maturity date accelerated.  This Note is guaranteed pursuant to the
Guaranty, all as more specifically described in the Agreement, and reference is
made thereto for a statement of the terms and provisions
thereof.  Capitalized terms used herein and not otherwise defined
herein are used with the meanings attributed to them in the
Agreement.

         

        [CAMERON
INTERNATIONAL CORPORATION]

        

        

        

        By:                                                                      

        Print
Name:                                                                      

        Title:                                                                      

        
          
            
              Exhibit E
to Credit Agreement

              -1-

            

             

          

          
             

            
              

            

          

          
             

          

        

        SCHEDULE
OF LOANS AND PAYMENTS OF PRINCIPAL

         

        
          	
                  Date

                	
                  Principal
      Amount of Loan

                	
                  Maturity
      of Interest Period

                	
                  Principal
      Amount Paid

                	
                  Unpaid
      Balance

                
	 
      	 
      	 
      	 
      	 
      

        

        

        
          
            
              Exhibit E
to Credit Agreement

              -2-

            

             

          

          
             

            
              

            

          

          
             

          

        

        EXHIBIT
F

         

        FORM
OF JOINDER AGREEMENT

         

        Reference
is made to the Credit Agreement dated as of April 14, 2008 (as amended,
modified, or supplemented from time-to-time, the "Credit Agreement")
among Cameron International Corporation, a Delaware corporation (the "Parent"), the other
borrowers named therein (together with the Parent, the "Borrowers"), the
lenders party thereto (the "Lenders"), and
JPMorgan Chase Bank, N.A., as agent for the Lenders (the "Administrative
Agent") and as LC Issuer.  Capitalized terms used herein but
not defined herein shall have the meanings specified by the Credit Agreement.
_________________________, a ____________________ corporation (the "Borrowing
Subsidiary"), hereby agrees with the Administrative Agent, the Lenders
and the Borrowers as follows:

         

        In
accordance with Section 2.24 of
the Credit Agreement, the Borrowing Subsidiary hereby (a) joins the Credit
Agreement as a party thereto and shall have all the rights of a Borrower and
assumes all the obligations of a Borrower under the Credit Agreement and the
other Loan Documents to which the other Borrowing Subsidiaries are a party, (b)
agrees to be bound by the provisions of the Credit Agreement or such other Loan
Documents as if the Borrowing Subsidiary had been an original party to the
Credit Agreement or such other Loan Documents, and (c) confirms that, after
joining the Credit Agreement and the other Loan Documents as set forth above,
the representations and warranties set forth in the Credit Agreement and the
other Loan Documents with respect to the Borrowing Subsidiary are true and
correct in all material respects as of the date of this Joinder Agreement and
that no Default or Unmatured Default has occurred and is
continuing.

         

        The
Borrowing Subsidiary shall cooperate with the Administrative Agent and the
Lenders and execute such further instruments and documents as the Administrative
Agent or the Lenders shall reasonably request to effect, to the reasonable
satisfaction of the Administrative Agent and the Lenders, the purposes of this
Joinder Agreement.

         

        THIS
WRITTEN AGREEMENT AND THE LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

         

        THERE ARE
NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

         

        IN
WITNESS WHEREOF this Joinder Agreement is executed and delivered as of the ___
day of ________, 20__.

         

        [BORROWING
SUBSIDIARY]

        

        

        

        By:                                                                      

        Print
Name:                                                                      

        Title:                                                                      

        
          
            
              Exhibit F
to Credit Agreement

              -1-

            

             

          

          
             

            
              

            

          

          
             

          

        

        EXHIBIT
G

         

        FORM
OF GUARANTY

         

        [See
attached.]

         

        
          
            
              Exhibit G
to Credit Agreement

              -2-

            

             

          

          
             

            
              

            

          

          
             

          

        

        GUARANTY

         

        This
Guaranty is made as of April 14, 2008 ("Guaranty"), by
Cameron International Corporation, a Delaware corporation (the "Guarantor"), in favor
of the Administrative Agent and the Lenders (as hereinafter
defined).

         

        R E C I T A L
S:

         

        A. The
Guarantor, Cameron Limited (the "UK Borrower"),
Cameron GmbH (the "German Borrower"),
Cameron (Singapore) Pte. Ltd. (the "Singapore Borrower"),
Cameron Canada Corporation (the "Canadian Borrower"),
Cameron (Luxembourg) SARL (the "Luxembourg
Borrower"), the financial institutions named therein (the "Lenders"), The Royal Bank of Scotland
plc, The Bank of Toyko-Mitsubishi UFJ, Ltd., DnB NOR Bank ASA, and Export
Development Canada, as Syndication Agents, and JPMorgan Chase Bank, N.A., as
Administrative Agent (the "Administrative
Agent") and as LC Issuer, have entered into a certain Credit Agreement
dated as of the date hereof (as from time to time modified, supplemented or
amended, the "Credit
Agreement").  Each capitalized term used but not otherwise
defined herein shall have the meaning ascribed to such term by the Credit
Agreement.

         

        B. The
Guarantor is the parent of the UK Borrower, the German Borrower, the Singapore
Borrower, the Canadian Borrower, the Luxembourg Borrower, any other Borrowing
Subsidiary, and each Subsidiary at whose request any Facility LC is issued
pursuant to the Credit Agreement, and will receive substantial and direct
benefits from the extensions of credit contemplated by the Credit Agreement and
is entering into this Guaranty to induce the Administrative Agent and the
Lenders to enter into the Credit Agreement and extend credit to the Borrowing
Subsidiaries and such other Subsidiaries thereunder.

         

        C. The
execution and delivery of this Guaranty is a condition precedent to the
obligation of the Lenders to extend credit to the Borrowing Subsidiaries
pursuant to the Credit Agreement.

         

        NOW
THEREFORE, in consideration of the foregoing and other good and valuable
consideration and as an inducement to the Lenders to enter into the Credit
Agreement and extend credit to the Borrowing Subsidiaries and the LC Issuers to
issue Facility LC's at the request of Subsidiaries, the Guarantor hereby agrees
as follows:

         

        1. The
Guarantor hereby absolutely, irrevocably and unconditionally guarantees prompt,
full and complete payment when due, whether at stated maturity, upon
acceleration or otherwise, and at all times thereafter, of (a) the principal of
and interest on the Loans made by the Lenders to, and the Note(s) held by each
Lender of, each Borrowing Subsidiary and (b) all other amounts from time to time
owing to the Lenders or the Administrative Agent by each Borrowing Subsidiary
and each other Subsidiary under the Credit Agreement, the Notes and the other
Loan Documents, including without limitation all "Obligations" (as
defined in the Credit Agreement) of the Borrowing Subsidiaries and the other
Subsidiaries (collectively, the "Guaranteed
Debt").  This is a guaranty of payment, not a guaranty of
collection.

         

        2. The
Guarantor waives notice of the acceptance of this Guaranty and of the extension
or incurrence of the Guaranteed Debt or any part thereof.  The
Guarantor further waives presentment, protest, notice, filing of claims with a
court in the event of receivership, bankruptcy or reorganization of any
Borrowing Subsidiary or any other Subsidiary, demand or action on delinquency in
respect of the Guaranteed Debt or any part thereof, including any right to
require the Administrative Agent or the Lenders to sue any Borrowing Subsidiary
or any other Subsidiary, any other guarantor or any other person obligated with
respect to the Guaranteed Debt or any part thereof, or otherwise to enforce
payment thereof against any collateral securing the Guaranteed Debt or any part
thereof.

         

        
          
            
              Exhibit G
to Credit Agreement

              -3-

            

          

          
            
            

            
              

            

          

          
            
            

          

        

        3. The
Guarantor hereby agrees that, to the fullest extent permitted by law, its
obligations hereunder shall be continuing, absolute and unconditional under any
and all circumstances and not subject to any reduction, limitation, impairment,
termination, defense (other than payment in full, subject however to Section 8
hereof), reduction by setoff or counterclaim, or recoupment whatsoever (all of
which are hereby expressly waived by it to the fullest extent permitted by law),
whether by reason of any claim of any character whatsoever, including, without
limitation, any claim of waiver, release, surrender, alteration or
compromise.  The validity and enforceability of this Guaranty shall
not be impaired or affected by any of the following: (a) any extension,
modification or renewal of, or indulgence with respect to, or substitution for,
the Guaranteed Debt or any part thereof or any agreement relating thereto at any
time; (b) any failure or omission to perfect or maintain any lien on, or
preserve rights to, any security or collateral or to enforce any right, power or
remedy with respect to the Guaranteed Debt or any part thereof or any agreement
relating thereto, or any collateral securing the Guaranteed Debt or any part
thereof; (c) any waiver of any right, power or remedy or of any default with
respect to the Guaranteed Debt or any part thereof or any agreement relating
thereto or with respect to any collateral securing the Guaranteed Debt or any
part thereof; (d) any release, surrender, compromise, settlement, waiver,
subordination or modification, with or without consideration, of any collateral
securing the Guaranteed Debt or any part thereof, any other guaranties with
respect to the Guaranteed Debt or any part thereof, or any other obligations of
any person thereof; (e) the enforceability or validity of the Guaranteed Debt or
any part thereof or the genuineness, enforceability or validity of any agreement
relating thereto or with respect to any collateral securing the Guaranteed Debt
or any part thereof; (f) the application of payments received from any source to
the payment of indebtedness other than the Guaranteed Debt, any part thereof or
amounts which are not covered by this Guaranty even though the Lenders might
lawfully have elected to apply such payments to any part or all of the
Guaranteed Debt or to amounts which are not covered by this Guaranty; (g) any
change of ownership of any Borrowing Subsidiary or any other Subsidiary or the
insolvency, bankruptcy or any other change in legal status of any Borrowing
Subsidiary or any other Subsidiary; (h) any change in, or the imposition of, any
law, decree, regulation or other governmental act which does or might impair,
delay or in any way affect the validity, enforceability or the payment when due
of the Guaranteed Debt; (i) the failure of any Borrowing Subsidiary or any other
Subsidiary to maintain in full force, validity or effect or to obtain or renew
when required all governmental and other approvals, licenses or consents
required in connection with the Guaranteed Debt or this Guaranty, or to take any
other action required in connection with the performance of all obligations
pursuant to the Guaranteed Debt or this Guaranty; (j) the existence of any
claim, setoff or other rights which the Guarantor may have at any time against
any Borrowing Subsidiary or any other Subsidiary or any other guarantor in
connection herewith or with any unrelated transaction; (k) the Lenders'
election, in any case or proceeding instituted under Chapter 11 of the United
States Bankruptcy Code, of the application of Section 1111(b)(2) of the
United States Bankruptcy Code; (l) any borrowing, use of cash collateral, or
grant of a security interest by any Borrowing Subsidiary or any other
Subsidiary, as debtor in possession, under Section 363 of the United States
Bankruptcy Code; (m) the disallowance of all or any portion of any of the
Lenders' claims for repayment of the Guaranteed Debt under Section 502 or
506 of the United States Bankruptcy Code; or (n) any other fact or circumstance
which might otherwise constitute grounds at law or equity for the discharge or
release of the Guarantor from its obligations hereunder, all whether or not the
Guarantor shall have had notice or knowledge of any act or omission referred to
in the foregoing clauses (a) through (n) of this paragraph.  It is
agreed that the Guarantor's liability hereunder is independent of any other
guaranties or other obligations at any time in effect with respect to the
Guaranteed Debt or any part thereof and that the Guarantor's liability hereunder
may be enforced regardless of the existence, validity, enforcement or
non-enforcement of any such other guaranties or other obligations or any
provision of any applicable law or regulation purporting to prohibit payment by
any Borrowing Subsidiary or any other Subsidiary of the Guaranteed Debt in the
manner agreed upon among the Administrative Agent, the Lenders and the Borrowing
Subsidiaries or other Subsidiaries as applicable.

         

        
          
            
              Exhibit G
to Credit Agreement

              -4-

            

          

          
            
            

            
              

            

          

          
            
            

          

        

        4. Credit
may be granted or continued from time to time by the Lenders to any Borrowing
Subsidiary or any other Subsidiary without notice to or authorization from the
Guarantor regardless of such Borrowing Subsidiary's or any other Subsidiary's
financial or other condition at the time of any such grant or
continuation.  Neither the Administrative Agent nor any Lender shall
have an obligation to disclose or discuss with the Guarantor its assessment of
the financial condition of any Borrowing Subsidiary or any other
Subsidiary.

         

        5. Until the
payment in full of the Obligations and termination of all commitments which
could give rise to any Obligation, the Guarantor shall have no right of
subrogation with respect to the Guaranteed Debt and hereby waives, until such
payment occurs, any right to enforce any remedy which the Administrative Agent
or the Lenders now have or may hereafter have against any Borrowing Subsidiary
or any other Subsidiary, any endorser or any other guarantor of all or any part
of the Guaranteed Debt, and the Guarantor hereby waives, until such payment
occurs, any benefit of, and any right to participate in, any security or
collateral given to the Administrative Agent or the Lenders to secure payment of
the Guaranteed Debt or any part thereof or any other liability of any Borrowing
Subsidiary or any other Subsidiary to the Administrative Agent or the
Lenders.

         

        6. The
Guarantor authorizes the Lenders to take any action or exercise any remedy, in
each case, as permitted or available at law or equity, with respect to any
collateral from time to time securing the Guaranteed Debt, which the Lenders in
their sole discretion shall determine, without notice to the
Guarantor.  Notwithstanding any reference herein to any collateral
securing any of the Guaranteed Debt, it is acknowledged that, on the date
hereof, neither the Guarantor nor any of its Subsidiaries has granted, or has
any obligation to grant, any security interest in or other lien on any of its
property as security for the Guaranteed Debt.

         

        7. In the
event the Lenders in their sole discretion elect to give notice of any action
with respect to any collateral securing the Guaranteed Debt or any part thereof,
10 days' written notice mailed to the Guarantor by ordinary mail at the address
shown hereon shall be deemed reasonable notice of any matters contained in such
notice.  The Guarantor consents and agrees that neither the
Administrative Agent nor the Lenders shall be under any obligation to marshal
any assets in favor of the Guarantor or against or in payment of any or all of
the Guaranteed Debt.

         

        
          
            
              Exhibit G
to Credit Agreement

              -5-

            

          

          
            
            

            
              

            

          

          
            
            

          

        

        8. In the
event that acceleration of the time for payment of any of the Guaranteed Debt is
stayed upon the insolvency, bankruptcy, administration or reorganization of any
Borrowing Subsidiary or any other Subsidiary, or otherwise, all such amounts
shall nonetheless be payable by the Guarantor forthwith upon demand by the
Administrative Agent or the Lenders.  The Guarantor further agrees
that, to the extent that any Borrowing Subsidiary or any other Subsidiary makes
a payment or payments to any of the Lenders on the Guaranteed Debt, or the
Administrative Agent or the Lenders receive any proceeds of collateral securing
the Guaranteed Debt, which payment or receipt of proceeds or any part thereof is
subsequently invalidated, declared to be fraudulent or preferential, set aside
or required to be returned or repaid to such Borrowing Subsidiary or any other
Subsidiary, its estate, trustee, receiver, debtor in possession or any other
party, including, without limitation, the Guarantor, under any insolvency or
bankruptcy law, state, federal, or foreign law, common law or equitable cause,
then to the extent of such payment, return or repayment, the obligation or part
thereof which has been paid, reduced or satisfied by such amount shall be
reinstated and continued in full force and effect as of the date when such
initial payment, reduction or satisfaction occurred.

         

        9. No delay
on the part of the Administrative Agent or the Lenders in the exercise of any
right, power or remedy shall operate as a waiver thereof, and no single or
partial exercise by the Administrative Agent or the Lenders of any right, power
or remedy shall preclude any further exercise thereof; nor shall any amendment,
supplement, modification or waiver of any of the terms or provisions of this
Guaranty be binding upon the Administrative Agent or the Lenders, except as
expressly set forth in a writing duly signed and delivered on the Lenders'
behalf by the Administrative Agent.  The failure by the Administrative
Agent or the Lenders at any time or times hereafter to require strict
performance by any Borrowing Subsidiary or any other Subsidiary or the Guarantor
of any of the provisions, warranties, terms and conditions contained in any
promissory note, security agreement, agreement, guaranty, instrument or document
now or at any time or times hereafter executed pursuant to the terms of, or in
connection with, the Credit Agreement by any Borrowing Subsidiary or any other
Subsidiary or the Guarantor and delivered to the Administrative Agent or the
Lenders shall not waive, affect or diminish any right of the Administrative
Agent or the Lenders at any time or times hereafter to demand strict performance
thereof, and such right shall not be deemed to have been waived by any act or
knowledge of the Administrative Agent or the Lenders, their agents, officers or
employees, unless such waiver is contained in an instrument in writing duly
signed and delivered on the Lenders' behalf by the Administrative
Agent.  No waiver by the Administrative Agent or the Lenders of any
default shall operate as a waiver of any other default or the same default on a
future occasion, and no action by the Administrative Agent or the Lenders
permitted hereunder shall in any way affect or impair the Administrative Agent's
or the Lenders' rights or powers, or the obligations of the Guarantor under this
Guaranty.  Any determination by a court of competent jurisdiction of
the amount of any Guaranteed Debt owing by the Borrower to the Lenders shall be
conclusive and binding on the Guarantor irrespective of whether the Guarantor
was a party to the suit or action in which such determination was
made.

         

        
          
            
              Exhibit G
to Credit Agreement

              -6-

            

          

          
            
            

            
              

            

          

          
            
            

          

        

        10. Subject
to the provisions of Section 8
hereof, this Guaranty shall continue in effect until the Credit Agreement has
terminated, the Guaranteed Debt has been paid in full and the other conditions
of this Guaranty have been satisfied.

         

        11. In
addition to and without limitation of any rights, powers or remedies of the
Administrative Agent or the Lenders under applicable law, any time after
maturity of the Guaranteed Debt, whether by acceleration or otherwise, the
Administrative Agent or the Lenders may, in their sole discretion, with notice
after the fact to the Guarantor and regardless of the acceptance of any security
or collateral for the payment hereof, appropriate and apply toward the payment
of the Guaranteed Debt (a) any indebtedness due or to become due from any of the
Lenders to the Guarantor, and (b) any moneys, credits or other property
belonging to the Guarantor (including all account balances, whether provisional
or final and whether or not collected or available) at any time held by or
coming into the possession of any of the Administrative Agent or any Lender
whether for deposit or otherwise.

         

        12. The
Guarantor agrees to pay all costs, fees and expenses (including reasonable
attorneys' fees of the Administrative Agent or a Lender) incurred by the
Administrative Agent or any Lender in collecting or enforcing the obligations of
the Guarantor under this Guaranty.

         

        13. This
Guaranty shall bind the Guarantor and its successors and assigns and shall inure
to the benefit of the Administrative Agent, the Lenders and their successors and
assigns.  All references herein to the Lenders shall for all purposes
also include all Participants, subject to the provisions of Section 12.1(c)
of the Credit Agreement.  All references herein to a Borrowing
Subsidiary or any other Subsidiary shall be deemed to include its respective
successors and assigns including, without limitation, a receiver, trustee or
debtor in possession of or for such Borrowing Subsidiary or any other
Subsidiary.

         

        14. THIS
GUARANTY SHALL BE CONSTRUED AND THE RIGHTS AND LIABILITIES OF THE ADMINISTRATIVE
AGENT, THE LENDERS AND THE GUARANTOR DETERMINED, IN ACCORDANCE WITH THE INTERNAL
LAWS, WITHOUT REGARD TO CONFLICT OF LAWS PROVISIONS, OF THE STATE OF TEXAS, BUT
GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.  THE
GUARANTOR HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY
UNITED STATES FEDERAL OR TEXAS STATE COURT SITTING IN HOUSTON, TEXAS, IN ANY
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY, AND 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.  THE GUARANTOR WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS
UPON IT, AND CONSENTS THAT ALL SUCH SERVICE OF PROCESS BE MADE BY MESSENGER OR
BY REGISTERED MAIL DIRECTED TO THE GUARANTOR AT THE ADDRESS INDICATED IN THE
CREDIT AGREEMENT, AND SERVICE SO MADE SHALL BE DEEMED TO BE COMPLETED THREE DAYS
AFTER THE SAME SHALL HAVE BEEN POSTED AS AFORESAID.  NOTHING HEREIN
SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR THE LENDERS TO SERVE LEGAL
PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR AFFECT THE RIGHT OF THE
ADMINISTRATIVE AGENT OR THE LENDERS TO BRING ANY ACTION OR PROCEEDING AGAINST
THE GUARANTOR OR ITS PROPERTY IN THE COURTS OF ANY OTHER
JURISDICTION.  ANY JUDICIAL PROCEEDING BY THE GUARANTOR AGAINST THE
ADMINISTRATIVE AGENT OR ANY LENDER OR ANY AFFILIATE OF THE ADMINISTRATIVE AGENT
OR ANY LENDER INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING
OUT OF, RELATED TO, OR CONNECTED WITH THIS GUARANTY SHALL BE BROUGHT ONLY IN A
COURT IN HOUSTON, TEXAS; PROVIDED, THAT SUCH
PROCEEDINGS MAY BE BROUGHT IN OTHER COURTS IF JURISDICTION MAY NOT BE OBTAINED
IN A COURT IN HOUSTON, TEXAS.

         

        
          
            
              Exhibit G
to Credit Agreement

              -7-

            

          

          
            
            

            
              

            

          

          
            
            

          

        

        15. EACH OF
THE GUARANTOR AND, BY THEIR ACCEPTANCE HEREOF, THE ADMINISTRATIVE AGENT AND EACH
LENDER, WAIVES TRIAL BY JURY WITH RESPECT TO DISPUTES ARISING
HEREUNDER.

         

        16. 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.

         

        17. Except as
otherwise expressly provided herein, any notice required or desired to be
served, given or delivered to any party hereto under this Guaranty shall be in
writing by telex, facsimile, U.S. mail or overnight courier and addressed or
delivered to such party at its address set forth in the Credit Agreement, or to
such other address as the Administrative Agent or the Lenders or the Guarantor
designates to the Administrative Agent in writing.  All notices by
United States mail shall be sent certified mail, return receipt
requested.  All notices hereunder shall be effective upon delivery or
refusal of receipt; provided that any
notice transmitted by telex or facsimile shall be deemed given when transmitted
(answerback confirmed in the case of telexes).

         

        18. As of the
date hereof, both the Guaranteed Debt and the obligations of the Guarantor
hereunder are unsecured.  The various references herein to security or
collateral for the Guaranteed Debt and/or such obligations shall not be deemed
to grant any security or collateral to the Administrative Agent or the Lenders
and shall be operative only to the extent that after the date hereof such
security or collateral is granted (it being understood that neither the
Guarantor nor any of the Borrowing Subsidiaries nor any other Subsidiary has any
obligation to grant such security or collateral).

         

        
          
            
              Exhibit G
to Credit Agreement

              -8-

            

             

          

          
             

            
              

            

          

          
             

          

        

        IN
WITNESS WHEREOF, the Guarantor has entered into this Guaranty as of the 14th day
of April 2008.

         

        CAMERON
INTERNATIONAL CORPORATION

        

        

        By:          /s/ Lorne
E.
Phillips                                                            

        Print
Name:   Lorne E. Phillips

        Title:   Vice
President and Treasurer

        

        
          
            
              Exhibit G
to Credit Agreement

              -9-

            

             

          

          
             

            
              

            

          

          
             

          

        

        SCHEDULE
1

         

        MANDATORY
COST FORMULAE

         

        
          	
                  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 European Administrative Agent shall calculate, as a percentage rate, a
      rate (the "Additional Cost
      Rate") for each Lender, in accordance with the paragraphs set out
      below.  The Mandatory Cost will be calculated by the European
      Administrative Agent as a weighted average of the Lenders' Additional Cost
      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
      Additional Cost Rate for any Lender lending from a Lending Installation in
      a Participating Member State will be the percentage notified by that
      Lender to the European Administrative Agent.  This percentage
      will be certified by that Lender in its notice to the European
      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 Lending Installation) of complying with the minimum reserve
      requirements of the European Central Bank in respect of loans made from
      that Lending Installation.

                

        

         

        
          	
                  4.

                	
                  The
      Additional Cost Rate for any Lender lending from a Lending Installation in
      the United Kingdom will be calculated by the European Administrative Agent
      as follows:

                

        

        
           

          
            	 
      	
                    (a)

                  	
                    in
      relation to a sterling Loan:

                  

          

           

          
            	
                    AB + C(B – D) + E x
      0.01

                  	
                          per
      cent. per annum

                  	 
      
	
                    100
      – (A +
      C)

                  	 
      
	 
      	 
      	 
      
	 
      	 
      	
                    (b)

                  	
                    in
      relation to a Loan in any currency other than
  sterling:

                  

          

           

          
            	
                    E x
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 Margin and the
      Mandatory Cost and, if applicable, the additional rate of interest
      specified in Section 2.13 (Rates Applicable After Default)) payable for
      the relevant Interest Period on the
Loan.

                

        

         

         

        
          
            
              Schedule
1 to Credit Agreement

              -1-

            

          

          
            
            

            
              

            

          

          
            
            

          

        

        
          	
                   
      

                	
                  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
      European 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 European Administrative Agent as being the
      average of the most recent rates of charge supplied by the Reference
      Lenders to the European 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)

                	
                  "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;

                

        

         

        
          	
                   
      

                	
                  (c)

                	
                  "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); and

                

        

         

        
          	
                   
      

                	
                  (d)

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

                

        

         

        
          	
                  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.

                

        

         

        
          	
                  7.

                	
                  If
      requested by the European Administrative Agent, each Reference Lender
      shall, as soon as practicable after publication by the Financial Services
      Authority, supply to the European Administrative Agent, the rate of charge
      payable by that Reference Lender 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 Lender as being the average of the Fee Tariffs applicable to
      that Reference Lender for that financial year) and expressed in pounds per
      £1,000,000 of the Tariff Base of that Reference
  Lender.

                

        

         

        
          	
                  8.

                	
                  Each
      Lender shall supply any information required by the European
      Administrative Agent for the purpose of calculating its Additional Cost
      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:

                

        

         

        
          	
                   
      

                	
                  (a)

                	
                  the
      jurisdiction of its Lending Installation;
and

                

        

         

        
          	
                   
      

                	
                  (b)

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

                

        

         

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

         

        
          
             

              Schedule
1 to Credit Agreement

              -2-

            

          

          
            
            

            
              

            

          

          
            
            

          

        

        
          	
                  9.

                	
                  The
      percentages of each Lender for the purpose of A and C above and the rates
      of charge of each Reference Lender for the purpose of E above shall be
      determined by the European 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 European 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 Lending Installation in the same
      jurisdiction as its Lending
Installation.

                

        

         

        
          	
                  10.

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

                

        

         

        
          	
                  11.

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

                

        

         

        
          	
                  12.

                	
                  Any
      determination by the European Administrative Agent pursuant to this
      Schedule in relation to a formula, the Mandatory Cost, an Additional Cost
      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
      European Administrative Agent may from time to time, after consultation
      with the Parent and the Lenders, determine and notify to all parties
      hereto any amendments which are required to be made to this Schedule in
      order to comply with any change in law, regulation or any 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.

                

        

         

        
          
            
              Schedule
1 to Credit Agreement

              -3-

            

             

          

          
             

            
              

            

          

          
             

          

        

        SCHEDULE 2 –
SUBSIDIARIES

        
 

        
 

        
          	
                  CAMERON
      INTERNATIONAL CORPORATION -- SUBSIDIARIES & JOINT
    VENTURES

                
	
                  (Active
      As of March 26, 2008)

                
	 
      	 	 	 	 	 	 	 	 	 	 
      
	 	
                  %
      Owned

                	 	 	 	 	 	 	 	
                  State/Country
      of

                
	 	
                  By

                	 	 	
                  %
      Owned

                	 	 	
                  File

                	 	
                  Incorporation
      or

                
	
                  Cameron International Corporation (Delaware) --
      Parent - 100

                	 	
                  Subsidiary

                	 	 	
                  By CAM

                	 	 	
                  No.

                	 	
                  Organization

                
	 
      	 	 	 	 	 	 	 	 	 	 
      
	
                  1 -
      Cameron Algerie (1 share
      owned by CPEGI)

                	 	 	 	 	 	100	%	 	 	200	 	
                  Algeria

                
	
                  1 -
      Cameron Al Rushaid Limited Company

                	 	 	 	 	 	50	%	 	 	451	 	
                  Saudi
      Arabia

                
	
                  1 -
      Cameron Argentina S.A.I.C. (122,700 shares owned by
      CPEGI)

                	 	
                  Less
      than 1%

                	 	 	 	100	%	 	 	202	 	
                  Argentina

                
	
                  1 -
      Cameron Gabon, S.A. (1
      share owned by Chairman)

                	 	 	 	 	 	100	%	 	 	277	 	
                  Gabon

                
	
                  1 -
      Cameron/Curtiss-Wright EMD LLC

                	 	 	 	 	 	50	%	 	 	116	 	
                  Delaware,
      USA

                
	
                  1 -
      Cameron Offshore Systems Nigeria Limited

                	 	 	 	 	 	100	%	 	 	407	 	
                  Nigeria

                
	
                  1 -
      Cameron Services Middle East LLC (Joint
      Venture)

                	 	 	 	 	 	24	%	 	 	426	 	
                  Oman

                
	
                  1 -
      Cameron Venezolana, S.A. - (51% owned by
      CPEGI)

                	 	 	 	 	 	100	%	 	 	526	 	
                  Venezuela

                
	
                  1 -
      Cameron Angola - Prestaçao de Serviços, Limitada - (1 share owned by
      CPEGI)

                	 	 	 	 	 	100	%	 	 	201	 	
                  Angola

                
	
                  1 -
      Compression Services Company

                	 	 	 	 	 	100	%	 	 	113	 	
                  Ohio,
      USA

                
	
                  1 -
      Cooper Cameron Foreign Sales Company Ltd.

                	 	 	 	 	 	100	%	 	 	226	 	
                  Barbados

                
	
                  1 -
      Cameron International Holding Corp. (CESI has partial
      interest)

                	 	 	8.36	%	 	 	91.64	%	 	 	110	 	
                  Nevada,
      USA

                
	
                  2 -
      Cameron Holding (Cayman) Limited

                	 	 	100	%	 	 	 	 	 	 	281	 	
                  Grand
      Cayman

                
	
                  3 -
      Cameron Technologies UK Limited

                	 	 	100	%	 	 	 	 	 	 	476	 	
                  England
      & Wales

                
	
                  3 -
      Petreco International Limited

                	 	 	100	%	 	 	 	 	 	 	486	 	
                  United
      Kingdom

                
	
                  4 -
      KCC Group Limited

                	 	 	100	%	 	 	 	 	 	 	484	 	
                  United
      Kingdom

                
	
                  5 -
      Petreco International (Middle East) Limited

                	 	 	100	%	 	 	 	 	 	 	487	 	
                  United
      Kingdom

                
	
                  5 -
      KCC Process Equipment Limited

                	 	 	100	%	 	 	 	 	 	 	483	 	
                  United
      Kingdom

                
	
                  6 -
      RJB Engineering (UK) Limited

                	 	 	100	%	 	 	 	 	 	 	489	 	
                  United
      Kingdom

                
	
                  5 -
      KCC Resources (Jersey) Limited

                	 	 	100	%	 	 	 	 	 	 	351	 	
                  Jersey

                
	
                  3 -
      Cameron Products Ltd.

                	 	 	100	%	 	 	 	 	 	 	282	 	
                  Grand
      Cayman

                
	
                  3 -
      Cameron Russia Ltd.

                	 	 	100	%	 	 	 	 	 	 	283	 	
                  Grand
      Cayman

                
	
                  3 -
      Cameron Services Russia Ltd.

                	 	 	100	%	 	 	 	 	 	 	284	 	
                  Grand
      Cayman

                
	
                  3  -
      Cameron Australasia Pty. Ltd.

                	 	 	100	%	 	 	 	 	 	 	203	 	
                  Australia

                
	
                   4
      - Cooper Cameron Valves Australia Pty. Ltd.

                	 	 	100	%	 	 	 	 	 	 	204	 	
                  Australia

                
	
                  3 -
      Cameron Campex Limited

                	 	 	80.1	%	 	 	 	 	 	 	280	 	
                  Grand
      Cayman

                
	 
      	 	
                  %
      Owned

                	 	 	 	 	 	 	 	 	 	
                  State/Country
      of

                
	 
      	 	
                  By

                	 	 	
                  %
      Owned

                	 	 	
                  File

                	 	
                  Incorporation
      or

                
	
                  Cameron International Corporation (Delaware) --
      Parent - 100

                	 	
                  Subsidiary

                	 	 	
                  By CAM

                	 	 	
                  No.

                	 	
                  Organization

                
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 
      
	
                   4
      - ShanDong Cooper Cameron Petroleum Equipment PTE
      LTD  (10-12-2004)

                	 	 	100	%	 	 	 	 	 	 	251	 	
                  China

                
	
                  3 -
      Cameron do Brasil Ltda. (1 share owned by Cameron
      (Lux) SARL)

                	 	 	100	%	 	 	 	 	 	 	227	 	
                  Brazil

                
	
                  4 -
      On/Off Manufatura e Comércio de Vávulas Ltda.

                	 	 	100	%	 	 	 	 	 	 	228	 	
                  Brazil

                
	
                                 [1
      share owned by Cameron Holding (Cayman) Limited]

                	 	 	 	 	 	 	 	 	 	 	 	 	 
      
	
                  3 -
      Cameron (Trinidad) Limited

                	 	 	100	%	 	 	 	 	 	 	454	 	
                  Trinidad
      and Tobago

                
	
                  3 -
      Cameron International Malaysia Sdn Bhd

                	 	 	49	%	 	 	 	 	 	 	355	 	
                  Malaysia

                
	
                  3 -
      Cameron Holding (Luxembourg) SARL

                	 	 	100	%	 	 	 	 	 	 	354	 	
                  Luxembourg

                
	
                  4 -
      Cameron (Luxembourg) SARL

                	 	 	100	%	 	 	 	 	 	 	353	 	
                  Luxembourg

                
	
                  5 -
      Cameron GmbH

                	 	 	100	%	 	 	 	 	 	 	278	 	
                  Germany

                
	
                  5 -
      Cameron Italy S.R.L.

                	 	 	100	%	 	 	 	 	 	 	327	 	
                  Italy

                
	
                  5 -
      Cameron Ireland Limited

                	 	 	100	%	 	 	 	 	 	 	326	 	
                  Ireland

                
	
                  5 -
      Cameron Systems (Ireland) Limited

                	 	 	100	%	 	 	 	 	 	 	329	 	
                  Ireland

                
	
                  5 -
      Cameron International Malaysia Systems Sdn Bhd

                	 	 	100	%	 	 	 	 	 	 	356	 	
                  Malaysia

                
	
                  5 -
      Cameron Korea Limited

                	 	 	100	%	 	 	 	 	 	 	352	 	
                  Korea

                
	
                  5 -
      Cameron Valves - Trading and Industrial Services LDA

                	 	 	55	%	 	 	 	 	 	 	427	 	
                  Portugal

                
	
                  6 -
      Cameron Valves & Measurement West Africa Limited

                	 	 	70	%	 	 	 	 	 	 	408	 	
                  Nigeria

                
	
                  5 -
      Cameron Netherlands B.V. (11-2004)

                	 	 	100	%	 	 	 	 	 	 	405	 	
                  Netherlands

                
	
                  6 -
      Cameron Euro Automation Center B.V.

                	 	 	100	%	 	 	 	 	 	 	402	 	
                  Netherlands

                
	
                  6-
      Caméron România S.A.

                	 	 	100	%	 	 	 	 	 	 	428	 	
                  Romania

                
	
                  5-
      Cameron Holding (Dutch) B.V.

                	 	 	100	%	 	 	 	 	 	 	404	 	
                  Netherlands

                
	
                  6-
      Cameron Canada Corporation

                	 	 	100	%	 	 	 	 	 	 	255	 	
                  Canada/Nova
      Scotia

                
	
                  5 -
      Cooper Cameron Holding (U.K.) Limited

                	 	 	100	%	 	 	 	 	 	 	479	 	
                  United
      Kingdom

                
	
                  6 -
      Cameron France, S.A.S.

                	 	 	100	%	 	 	 	 	 	 	276	 	
                  France

                
	
                  6 -
      Cameron Limited

                	 	 	100	%	 	 	 	 	 	 	481	 	
                  United
      Kingdom

                
	
                  7 -
      Cooper Cameron (U.K.) Investments Limited

                	 	 	100	%	 	 	 	 	 	 	480	 	
                  United
      Kingdom

                
	
                  8 -
      Cameron Manufacturing (India) Private Limited

                	 	 	100	%	 	 	 	 	 	 	330	 	
                  India

                
	
                  8 -
      Flow Control-Tati Production Sdn. Bhd.

                	 	 	49	%	 	 	 	 	 	 	359	 	
                  Malaysia

                
	
                  7 -
      Cameron Offshore Engineering Limited

                	 	 	100	%	 	 	 	 	 	 	478	 	
                  United
      Kingdom

                
	
                  7 -
      Cooper Cameron Pensions Limited

                	 	 	100	%	 	 	 	 	 	 	482	 	
                  United
      Kingdom

                
	
                  7 -
      Cameron Integrated Services Limited

                	 	 	100	%	 	 	 	 	 	 	477	 	
                  United
      Kingdom

                
	
                  7 -
      D.E.S. Operations Limited

                	 	 	100	%	 	 	 	 	 	 	454	 	
                  Scotland

                
	
                  7 -
      DES Operations, Inc.

                	 	 	100	%	 	 	 	 	 	 	117	 	
                  Texas,
      USA

                
	
                  7 -
      International Valves Limited

                	 	 	100	%	 	 	 	 	 	 	483	 	
                  United
      Kingdom

                
	 
      	 	
                  %
      Owned

                	 	 	 	 	 	 	 	 	 	
                  State/Country
      of

                
	 
      	 	
                  By

                	 	 	
                  %
      Owned

                	 	 	
                  File

                	 	
                  Incorporation
      or

                
	
                  Cameron International Corporation (Delaware) --
      Parent - 100

                	 	
                  Subsidiary

                	 	 	
                  By CAM

                	 	 	
                  No.

                	 	
                  Organization

                
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 
      
	
                  7 -
      Jiskoot Holdings Limited

                	 	 	100	%	 	 	 	 	 	 	490	 	
                  United
      Kingdom

                
	
                  7 -
      Jiskoot Limited

                	 	 	100	%	 	 	 	 	 	 	491	 	
                  United
      Kingdom

                
	
                  6 -
      Cameron International Holding B.V.

                	 	 	100	%	 	 	 	 	 	 	403	 	
                  Netherlands

                
	
                  7 -
      Cameron Energy Services B.V.

                	 	 	100	%	 	 	 	 	 	 	406	 	
                  Netherlands

                
	
                  7 -
      Cameron B.V.

                	 	 	100	%	 	 	 	 	 	 	401	 	
                  Netherlands

                
	
                  7 -
      Cooper Cameron Holding (Norway) AS

                	 	 	100	%	 	 	 	 	 	 	411	 	
                  Norway

                
	
                  8 -
      Cameron Norge AS

                	 	 	100	%	 	 	 	 	 	 	410	 	
                  Norway

                
	
                  5 -
      SBS Oilfield Equipment GmbH

                	 	 	100	%	 	 	 	 	 	 	206	 	
                  Austria

                
	
                  5 -
      SBS Immobilienentwicklungs und -verwertung GmbH (partially owned by Cameron
      Limited)

                	 	 	99.9	%	 	 	 	 	 	 	207	 	
                  Austria

                
	
                  3 -
      Cooper Cameron Libya Limited

                	 	 	50	%	 	 	 	 	 	 	362	 	
                  Malta

                
	
                  3 -
      Cameron (Singapore) Pte. Ltd.

                	 	 	100	%	 	 	 	 	 	 	452	 	
                  Singapore

                
	
                  4 -
      Cameron Systems Shanghai Co., Ltd.

                	 	 	100	%	 	 	 	 	 	 	 	 	
                  China

                
	
                  4 -
      Riyan Cameron (B) Sendirian Berhad

                	 	 	100	%	 	 	 	 	 	 	229	 	
                  Brunei

                
	
                  1 -
      Cameron (Holding) Corp.

                	 	 	 	 	 	 	100	%	 	 	109	 	
                  Nevada,
      USA

                
	
                  2-  Cameron
      Technologies, Inc.

                	 	 	100	%	 	 	 	 	 	 	104	 	
                  Delaware,
      USA

                
	
                  3 -
      Cameron Flow Systems Ltd.

                	 	 	100	%	 	 	 	 	 	 	253	 	
                  Alberta,
      CA

                
	
                  3 -
      NuFlo Finance and Royalty Company

                	 	 	100	%	 	 	 	 	 	 	103	 	
                  Delaware,
      USA

                
	
                  3 -
      Cameron Technologies US, Inc.

                	 	 	100	%	 	 	 	 	 	 	105	 	
                  Delaware,
      USA

                
	
                  1 -
      Sequel Holding, Inc.

                	 	 	 	 	 	 	100	%	 	 	108	 	
                  Delaware,
      USA

                
	
                  1 -
      Petreco International Inc. (partially owned by Sequel
      Holding, Inc.)

                	 	 	51	%	 	 	49	%	 	 	106	 	
                  Delaware,
      USA

                
	
                  2 -
      Petreco-KCC Holding, Inc.

                	 	 	100	%	 	 	 	 	 	 	107	 	
                  Delaware,
      USA

                
	
                  3 -
      Petreco-KCC Limited

                	 	 	100	%	 	 	 	 	 	 	488	 	
                  United
      Kingdom

                
	
                  2 -
      Petreco Canada Inc.

                	 	 	100	%	 	 	 	 	 	 	254	 	
                  Canada/Alberta

                
	
                  1 -
      Cooper Cameron Corporation Nigeria Limited

                	 	 	 	 	 	 	60	%	 	 	409	 	
                  Nigeria

                
	
                  1 -
      Cameron Systems Srl

                	 	 	 	 	 	 	100	%	 	 	328	 	
                  Italy

                
	
                  1 -
      Cameron Systems de Venezuela, S.A.

                	 	 	 	 	 	 	100	%	 	 	528	 	
                  Venezuela

                
	
                  1 -
      Cameron Energy Services International, Inc.

                	 	 	 	 	 	 	100	%	 	 	112	 	
                  Ohio,
      USA

                
	
                  2 -
      Canada Tiefbohrgeräte und Maschinenfabrik GmbH (1 share owned by
      CPEGI)

                	 	 	100	%	 	 	 	 	 	 	205	 	
                  Austria

                
	
                  1 -
      Cameron de Mexico S.A. de C.V. (1 share owned by
      CPEGI)

                	 	 	 	 	 	 	100	%	 	 	363	 	
                  Mexico

                
	
                  1 -
      Cameron Petroleum Equipment Group, Inc.
(CPEGI)

                	 	 	 	 	 	 	100	%	 	 	101	 	
                  Delaware,
      USA

                
	
                  1 -
      Cameron Wellhead Services, Inc.

                	 	 	 	 	 	 	100	%	 	 	111	 	
                  Nevada,
      USA

                
	
                  2 -
      Cooper Cameron (Malaysia) Sdn Bhd**

                	 	 	49	%	 	 	 	 	 	 	358	 	
                  Malaysia

                
	 
      	 	
                  %
      Owned

                	 	 	 	 	 	 	 	 	 	
                  State/Country
      of

                
	 
      	 	
                  By

                	 	 	
                  %
      Owned

                	 	 	
                  File

                	 	
                  Incorporation
      or

                
	
                  Cameron International Corporation (Delaware) --
      Parent - 100

                	 	
                  Subsidiary

                	 	 	
                  By CAM

                	 	 	
                  No.

                	 	
                  Organization

                
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 
      
	
                  3 -
      Cooper Cameron Valves Singapore Pte. Ltd.

                	 	 	100	%	 	 	 	 	 	 	453	 	
                  Singapore

                
	
                  4 -
      Cooper Cameron Corporation Sdn Bhd

                	 	 	100	%	 	 	 	 	 	 	357	 	
                  Malaysia

                
	
                  4 -
      PCC Bumi Flow Technologies Sdn. Bhd.

                	 	 	100	%	 	 	 	 	 	 	361	 	
                  Malaysia

                
	 
	
                  ** Local Malaysian law
      requires that a majority of stock be owned by local
    residents.

                	 	 
	
                  Attorney/agents
      hold 51% of stock on CCC's behalf.

                

        

        

        
 

         

        

         

        
          
            
              Schedule
2 to Credit Agreement

              -4-

            

             

          

          
             

            
              

            

          

          
             

          

        

        SCHEDULE
3

        LIENS

        

        (SEE
SECTION 6.15)

        

        

        Liens of
the Parent and its Subsidiaries accounted for as capital lease obligations of
Parent or such Subsidiaries.

        

        The
Capital Lease balance as of March 31, 2008 is as follows:

        

        

        
          	
                  Parent

                	 	$	9,164,488	 
	
                  Cameron
      (Singapore) Pte. Ltd.

                	 	$	12,395	 
	
                  Cameron
      Canada Corporation

                	 	$	2,680,779	 
	
                  Cameron
      Italy S.R.L.

                  Cameron
      Flow Systems Ltd.

                  Cameron
      Technologies U.S. Inc.

                	 	$	28,459
      $ 118,001
      $ 225,071
    	 
	 
      	 	 	 	 
	
                  TOTAL

                	 	$	12,229,193	 

        

        

        

         

        
          
            
              Schedule
3 to Credit Agreement

              -1-

            

             

          

          
             

            
              

            

          

          
             

          

        

        SCHEDULE
4

         

        EUROCURRENCY
PAYMENT OFFICES OF THE ADMINISTRATIVE AGENT

         

        Dollars:

         

        JPMORGAN
CHASE BANK, N.A.

         

        Bank One
Plaza

         

        Suite  IL1-0010

         

        Chicago,
Illinois 60670

         

        ABA
No.:       02100021

         

        Account
No.:    9008109962C0163

         

                    LS2 Incoming
Account

         

        Reference:        
Cameron International Corporation

         

        Attn:          Claudia
Kech

         

        Canadian
Dollars:

         

        JPMORGAN
CHASE BANK, N.A., TORONTO BRANCH

         

        200 Bay
Street, Royal Bank Plaza

         

        South
Tower, Suite 1800

         

        Toronto,
Ontario M5J 2J2

         

        [ABA]
No.:                                

         

        Account
No.:                                

         

        Reference:                                Cameron
International Corporation

         

        Attn:                                

         

        Other Agreed
Currencies:

         

        J.P.
MORGAN EUROPE LIMITED

         

        125
London Wall

         

        London,
England EC2Y 5AJ

         

        [ABA]
No.:                                

         

        Account
No.:                                

         

        Reference:                                Cameron
International Corporation

         

        Attn:                                

         

        

         

        

         

        
          
            
              Schedule
4 to Credit Agreement

              -1-

            

             

          

          
             

            
              

            

          

          
             

          

        

        SCHEDULE
5

         

        EXISTING
LETTERS OF CREDIT

         

        
          	
                  JPM
      Lc Ref

                	
                  Currency

                	 	
                  LC
      Outstanding (USD)

                	 	
                  Issue
      Date

                	
                  Expiry
      Date

                	
                  Beneficiary

                
	
                  TPTS-577436

                	
                  USD

                	 	$	6,560,000.00	 	
                  9/19/2007

                	
                  12/31/2008

                	
                  ARABIAN
      BEMCO INDUSTRIAL AND POWER

                
	
                  TPTS-651404

                	
                  USD

                	 	$	5,567,467.05	 	
                  1/31/2007

                	
                  8/30/2008

                	
                  JPMORGAN
      CHASE BANK, N.A.

                
	
                  TPTS-651608

                	
                  USD

                	 	$	5,611,985.60	 	
                  10/11/2006

                	
                  9/20/2008

                	
                  DAEWOO
      SHIPBUILDING AND MARINE

                
	
                  TPTS-651732

                	
                  USD

                	 	$	4,057,800.00	 	
                  4/19/2007

                	
                  1/15/2009

                	
                  JPMORGAN
      CHASE BANK, N.A.

                
	
                  TPTS-679671

                	
                  USD

                	 	$	8,268,599.60	 	
                  3/21/2006

                	
                  7/30/2008

                	
                  DAEWOO
      SHIPBUILDING AND MARINE

                
	 
      	 
      	 	$	30,065,852.25	 	 
      	 
      	 
      

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        

        #2166548.11

        
          
            
              Schedule
5 to Credit Agreement

              -1-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]