Document:

Exhibit 4.18

Exhibit 4.18

English Translation of Chinese Original

Supplement to Equity Pledge Agreement

This Supplement to Equity Pledge Agreement (this “Supplemental Agreement”) is entered into by and
between the following parties on May 28, 2010 in Shenzhen:

PLEDGEE:

Party A: Shenzhen Nepstar Pharmaceutical Co., Ltd.

Registered address: Neptunus Building A-15B, Nanshan District, Shenzhen

PLEDGORS:

Party B: Feng Tu

ID No.: 320828196810190013

Party C: Liping Zhou

ID No.: 310104196310262825

(Party B and Party C are hereinafter collectively referred to as “Pledgors”)

Whereas, the Pledgee and the Pledgors have entered into the Equity Pledge Agreement on June 22,
2007 and conducted the pledge registration; and

Whereas, the Pledgors acquired 100% of the equity interests of Shenzhen Nepstar E- Commerce Co.,
Ltd. during the term of pledge.

The Pledgee and the Pledgors hereby agree to enter into this Supplemental Agreement after friendly
negotiation:

1. REGIONAL CHAIN COMPANIES

The list of the regional chain companies attached as Annex 1 to the Equity Pledge Agreement is
hereby amended in its entirety to read as follows:

	 	 	 
	No.	 	Name of the Company
	1

	 	Shenzhen Nepstar Chain Co., Ltd.
	2

	 	Dalian Nepstar Chain Co., Ltd.
	3

	 	Guangzhou Nepstar Chain Co., Ltd.
	4

	 	Jiangsu Nepstar Chain Co., Ltd.
	5

	 	Shandong Nepstar Chain Co., Ltd.
	6

	 	Shanghai Nepstar Chain Co., Ltd.
	7

	 	Sichuan Nepstar Chain Co., Ltd.
	8

	 	Hangzhou Nepstar Chain Co., Ltd.
	9

	 	Ningbo Nepstar Chain Co., Ltd.
	10

	 	Tianjin Nepstar Chain Co., Ltd.
	11

	 	Qingdao Nepstar Chain Co., Ltd.
	12

	 	Fuzhou Nepstar Chain Co., Ltd.
	13

	 	Shenzhen Nepstar E-Commerce Co., Ltd.

 

 

 

2. EFFECTIVENESS

This Supplemental Agreement has been executed by the parties hereto on the date first written
above, and shall come into effect upon being duly executed by the authorized representatives of the
parties hereto. This Supplemental Agreement shall be binding upon both parties once it becomes
effective.

3. COPIES OF AGREEMENT

This Supplemental Agreement is made in Chinese with four originals. Each of Party A, Party B and
Party C has one original, with the rest used for registration and filing. Each original shall have
the same legal effect.

[End of Page]

 

2

 

IN WITNESS WHEREOF, the parties have signed or have caused their respective legal representative or
authorized representative to sign on this Supplemental Agreement on the date first written above.

PLEDGEE: SHENZHEN NEPSTAR PHARMACEUTICAL CO., LTD.

Legal Representative/ Authorized Representative: /s/ Simin Zhang

Seal: /s/ Shenzhen Nepstar Pharmaceutical Co., Ltd.

PLEDGOR: FENG TU

Signature: /s/ Feng Tu

PLEDGOR: LIPING ZHOU

Signature: /s/ Liping Zhou

 

3exv10w1

Exhibit 10.1

Execution Version

 

 

CREDIT AGREEMENT

among

SWISHER HYGIENE INC.,

as Borrower,

THE LENDERS NAMED HEREIN,

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent.

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I
	 	 	 	 
	 
	 	 	 	 
	DEFINITIONS
	 	 	 	 
	1.1 Defined Terms
	 	 	1	 
	1.2 Accounting Terms
	 	 	23	 
	1.3 Other Terms; Construction
	 	 	23	 
	 
	 	 	 	 
	ARTICLE II
	 	 	 	 
	 
	 	 	 	 
	AMOUNT AND TERMS OF THE LOANS
	 	 	 	 
	2.1 Commitments
	 	 	24	 
	2.2 Borrowings
	 	 	25	 
	2.3 Disbursements; Funding Reliance; Domicile of Loans
	 	 	28	 
	2.4 Evidence of Debt; Notes
	 	 	28	 
	2.5 Termination and Reduction of Commitments and Swingline Commitment
	 	 	29	 
	2.6 Mandatory Payments and Prepayments
	 	 	30	 
	2.7 Voluntary Prepayments
	 	 	31	 
	2.8 Interest
	 	 	32	 
	2.9 Fees
	 	 	33	 
	2.10 Interest Periods
	 	 	34	 
	2.11 Conversions and Continuations
	 	 	35	 
	2.12 Method of Payments; Computations; Apportionment of Payments
	 	 	36	 
	2.13 Recovery of Payments
	 	 	38	 
	2.14 Use of Proceeds
	 	 	38	 
	2.15 Pro Rata Treatment
	 	 	39	 
	2.16 Increased Costs; Change in Circumstances; Illegality
	 	 	39	 
	2.17 Taxes
	 	 	41	 
	2.18 Compensation
	 	 	43	 
	2.19 Replacement of Lender; Mitigation of Costs
	 	 	43	 
	2.20 Defaulting Lenders
	 	 	44	 
	 
	 	 	 	 
	ARTICLE III
	 	 	 	 
	 
	 	 	 	 
	LETTERS OF CREDIT
	 	 	 	 
	3.1 Issuance
	 	 	47	 
	3.2 Notices
	 	 	48	 
	3.3 Participations
	 	 	48	 
	3.4 Reimbursement
	 	 	48	 
	3.5 Payment by Revolving Loans
	 	 	49	 
	3.6 Payment to Lenders
	 	 	49	 
	3.7 Obligations Absolute
	 	 	50	 
	3.8 Cash Collateral Account
	 	 	51	 
	3.9 The Issuing Lender
	 	 	52	 
	3.10 Effectiveness
	 	 	52	 
	3.11 Existing Letters of Credit
	 	 	52	 

i

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	ARTICLE IV
	 	 	 	 
	 
	CONDITIONS OF BORROWING
	 	 	 	 
	4.1 Conditions of Initial Borrowing
	 	 	52	 
	4.2 Conditions of All Borrowings
	 	 	55	 
	 
	 	 	 	 
	ARTICLE V
	 	 	 	 
	 
	 	 	 	 
	REPRESENTATIONS AND WARRANTIES
	 	 	 	 
	5.1 Corporate Organization and Power
	 	 	56	 
	5.2 Corporate Authority: No Conflict With Other Instruments or Law
	 	 	56	 
	5.3 Due Execution and Delivery
	 	 	57	 
	5.4 Enforceability
	 	 	57	 
	5.5 Governmental Approval
	 	 	57	 
	5.6 Margin Stock
	 	 	57	 
	5.7 Investment Company
	 	 	57	 
	5.8 Taxes
	 	 	57	 
	5.9 Litigation
	 	 	57	 
	5.10 Financial Statements; Solvency
	 	 	58	 
	5.11 No Material Adverse Effect
	 	 	58	 
	5.12 Compliance with Laws
	 	 	58	 
	5.13 Environmental Compliance
	 	 	59	 
	5.14 Ownership of Properties
	 	 	60	 
	5.15 Intellectual Property
	 	 	60	 
	5.16 Insurance
	 	 	60	 
	5.17 ERISA
	 	 	60	 
	5.18 Full Disclosure
	 	 	61	 
	5.19 No Default
	 	 	61	 
	5.20 Subsidiaries
	 	 	61	 
	5.21 Security Documents
	 	 	61	 
	5.22 Labor Relations
	 	 	62	 
	5.23 No Burdensome Restrictions
	 	 	62	 
	5.24 OFAC; Anti-Terrorism Laws
	 	 	62	 
	5.25 Material Contracts
	 	 	62	 
	 
	 	 	 	 
	ARTICLE VI
	 	 	 	 
	 
	 	 	 	 
	AFFIRMATIVE COVENANTS
	 	 	 	 
	6.1 Financial Statements
	 	 	63	 
	6.2 Other Business and Financial Information
	 	 	64	 
	6.3 Existence; Franchises; Maintenance of Properties
	 	 	65	 
	6.4 Compliance with Laws
	 	 	66	 
	6.5 Payment of Obligations
	 	 	66	 
	6.6 Maintenance of Books and Records; Inspection
	 	 	66	 
	6.7 Insurance
	 	 	66	 
	6.8 Name Change
	 	 	67	 
	6.9 Permitted Acquisitions
	 	 	67	 

ii

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	6.10 Creation or Acquisition of Subsidiaries
	 	 	68	 
	6.11 Banking Relationship
	 	 	70	 
	6.12 Additional Security
	 	 	70	 
	6.13 Environmental Laws
	 	 	70	 
	6.14 OFAC, PATRIOT Act Compliance
	 	 	71	 
	6.15 Further Assurances
	 	 	71	 
	6.16 Landlord Agreements
	 	 	71	 
	6.17 Delivery of Certain Certificates representing Capital Stock
	 	 	71	 
	6.18 Certain Consents
	 	 	71	 
	 
	 	 	 	 
	ARTICLE VII
	 	 	 	 
	 
	 	 	 	 
	FINANCIAL COVENANTS
	 	 	 	 
	7.1 Senior Net Leverage Ratio
	 	 	72	 
	7.2 Total Net Leverage Ratio
	 	 	73	 
	7.3 Consolidated EBITDA
	 	 	74	 
	7.4 Fixed Charge Coverage Ratio
	 	 	74	 
	7.5 Unencumbered Liquidity to Current Maturity of Convertible Seller Notes
	 	 	74	 
	7.6 Minimum Unencumbered Liquidity
	 	 	74	 
	 
	 	 	 	 
	ARTICLE VIII
	 	 	 	 
	 
	 	 	 	 
	NEGATIVE COVENANTS
	 	 	 	 
	8.1 Merger; Consolidation
	 	 	75	 
	8.2 Indebtedness
	 	 	75	 
	8.3 Liens
	 	 	77	 
	8.4 Asset Dispositions
	 	 	78	 
	8.5 Restricted Investments
	 	 	79	 
	8.6 Restricted Payments
	 	 	80	 
	8.7 Transactions with Affiliates
	 	 	81	 
	8.8 Sale-Leaseback Transactions
	 	 	82	 
	8.9 Certain Amendments
	 	 	82	 
	8.10 Limitation on Certain Restrictions
	 	 	82	 
	8.11 No Other Negative Pledges
	 	 	82	 
	8.12 Lines of Business
	 	 	83	 
	8.13 Fiscal Year
	 	 	83	 
	8.14 Accounting Changes
	 	 	83	 
	8.15 Change of Control
	 	 	83	 
	 
	 	 	 	 
	ARTICLE IX
	 	 	 	 
	 
	 	 	 	 
	EVENTS OF DEFAULT
	 	 	 	 
	9.1 Events of Default
	 	 	83	 
	9.2 Remedies: Termination of Commitments, Acceleration, etc
	 	 	85	 
	9.3 Remedies: Set-Off
	 	 	86	 

iii

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	ARTICLE X
	 	 	 	 
	 
	 	 	 	 
	THE ADMINISTRATIVE AGENT
	 	 	 	 
	10.1 Appointment and Authority
	 	 	86	 
	10.2 Rights as a Lender
	 	 	87	 
	10.3 Exculpatory Provisions
	 	 	87	 
	10.4 Reliance by Administrative Agent
	 	 	88	 
	10.5 Delegation of Duties
	 	 	88	 
	10.6 Resignation of Administrative Agent
	 	 	88	 
	10.7 Non-Reliance on Administrative Agent and Other Lenders
	 	 	89	 
	10.8 Collateral and Guaranty Matters
	 	 	89	 
	10.9 Issuing Lender and Swingline Lender
	 	 	89	 
	 
	 	 	 	 
	ARTICLE XI
	 	 	 	 
	 
	 	 	 	 
	MISCELLANEOUS
	 	 	 	 
	11.1 Expenses; Indemnity; Damage Waiver
	 	 	90	 
	11.2 Governing Law; Submission to Jurisdiction; Waiver of Venue; Service of Process
	 	 	91	 
	11.3 Arbitration; Preservation and Limitation of Remedies
	 	 	92	 
	11.4 Notices; Effectiveness; Electronic Communication
	 	 	93	 
	11.5 Amendments, Waivers, etc
	 	 	94	 
	11.6 Successors and Assigns
	 	 	95	 
	11.7 No Waiver
	 	 	98	 
	11.8 Survival
	 	 	99	 
	11.9 Severability
	 	 	99	 
	11.10 Construction
	 	 	99	 
	11.11 Confidentiality
	 	 	99	 
	11.12 Counterparts; Integration; Effectiveness
	 	 	100	 
	11.13 Disclosure of Information
	 	 	100	 
	11.14 USA Patriot Act Notice
	 	 	100	 

iv

 

	 	 	 
	 	 	EXHIBITS
	Exhibit A-1

	 	Form of Revolving Note
	Exhibit A-2

	 	Form of Swingline Note
	Exhibit B-1

	 	Form of Notice of Borrowing
	Exhibit B-2

	 	Form of Notice of Conversion/Continuation
	Exhibit C

	 	Form of Compliance Certificate
	Exhibit D

	 	Form of Assignment and Assumption
	Exhibit E

	 	Form of Security Agreement
	Exhibit F

	 	Form of Guaranty
	 
	 	 
	 

	 	SCHEDULES
	 
	 	 
	Schedule 1.1(a)

	 	Commitments and Notice Addresses
	Schedule 1.1(b)

	 	Certain Indebtedness
	Schedule 3.11

	 	Existing Letters of Credit
	Schedule 4.2

	 	Certain Post-Closing Deliveries
	Schedule 5.9

	 	Litigation
	Schedule 5.10(c)

	 	Note Receivables
	Schedule 5.13

	 	Environmental Compliance
	Schedule 5.14

	 	Realty
	Schedule 5.15

	 	Intellectual Property
	Schedule 5.16

	 	Insurance
	Schedule 5.20

	 	Subsidiaries
	Schedule 5.25

	 	Material Contracts
	Schedule 8.3

	 	Liens
	Schedule 8.7

	 	Transactions with Affiliates

v

 

CREDIT AGREEMENT

     THIS CREDIT AGREEMENT, dated as of the 30th day of March, 2011, is made among
SWISHER HYGIENE INC., a Delaware corporation (the “Borrower”), the Lenders (as hereinafter
defined), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders.

BACKGROUND STATEMENT

     The Borrower has requested that the Lenders make available to the Borrower a revolving credit
facility in the aggregate principal amount of $100,000,000, subject to the availability provisions
hereof. The Borrower will use the proceeds of these facilities as provided in Section 2.14. The
Lenders are willing to make available to the Borrower the credit facilities described herein
subject to and on the terms and conditions set forth in this Agreement.

AGREEMENT

     NOW, THEREFORE, in consideration of the mutual provisions, covenants and agreements herein
contained, the parties hereto hereby agree as follows:

ARTICLE I

DEFINITIONS

     1.1 Defined Terms. For purposes of this Agreement, in addition to the terms
defined elsewhere herein, the following terms have the meanings set forth below (such meanings to
be equally applicable to the singular and plural forms thereof):

     “Account Designation Letter” means a letter from the Borrower to the Administrative
Agent, duly completed and signed by an Authorized Officer of the Borrower and in form and substance
reasonably satisfactory to the Administrative Agent, listing any one or more accounts to which the
Borrower may from time to time request the Administrative Agent to forward the proceeds of any
Loans made hereunder.

     “Acquisition” means any transaction or series of related transactions, consummated on
or after the date hereof, by which the Borrower or any Subsidiary of the Borrower, (i) acquires all
or substantially all of the assets of any Person or any going business, division thereof or line of
business, whether through purchase of assets, merger or otherwise, or (ii) acquires Capital Stock
of any Person having at least a majority of combined voting power of the then outstanding Capital
Stock of such Person. For purposes of this agreement, a business shall be defined by the criteria
set forth in Statement of Financial Accounting Standard 141R paragraph 3(d) and Regulation S-X Rule
11-01 (d) of the Securities Act of 1933.

     “Acquisition Amount” means, with respect to any Acquisition, the sum (without
duplication) of (i) the amount of cash paid as purchase price by the Borrower and its Subsidiaries
in connection with such Acquisition, (ii) the value of all Capital Stock of the Borrower issued or
given as purchase price in connection with such Acquisition (as determined by the parties thereto
under the definitive acquisition agreement), (iii) the amount (determined by using the face amount
or the amount payable at maturity, whichever is greater) of all Indebtedness incurred, assumed or
acquired by the Borrower and its Subsidiaries in connection with such Acquisition, (iv) the maximum
amount of any Contingent Purchase Price Obligations in connection with such Acquisition, as
determined in good faith by the Borrower,

 

(v) all amounts paid in respect of noncompetition agreements, consulting agreements (to the extent
annualized payments exceed $250,000 per year) and similar arrangements entered into in connection
with such Acquisition, and (vi) the aggregate fair market value of all other real, mixed or
personal property paid as purchase price by the Borrower and its Subsidiaries in connection with
such Acquisition.

     “Adjusted Base Rate” means, at any time with respect to any Base Rate Loan of any
Class, a rate per annum equal to the Base Rate as in effect at such time plus the Applicable
Percentage for Base Rate Loans as in effect at such time.

     “Adjusted LIBOR Market Index Rate” means, for any date, with respect to any LIBOR
Market Index Rate Loan, a rate per annum equal to the LIBOR Market Index Rate as in effect at such
time plus the Applicable Percentage for LIBOR Loans as in effect at such time.

     “Adjusted LIBOR Rate” means, at any time with respect to any LIBOR Loan of any Class,
a rate per annum equal to the LIBOR Rate as in effect at such time plus the Applicable Percentage
for LIBOR Loans as in effect at such time.

     “Administrative Agent” means Wells Fargo, in its capacity as Administrative Agent
appointed under Section 10.1, and its successors and permitted assigns in such capacity.

     “Affiliate” means, with respect to a specified Person, another Person that directly,
or indirectly through one or more intermediaries, (i) Controls or is Controlled by or is under
common Control with the Person specified or (ii) beneficially owns, is owned by or is under common
ownership with respect to securities or other ownership interests of such Person having 10% or more
of the combined voting power of the then outstanding securities or other ownership interests of
such Person ordinarily (and apart from rights accruing under special circumstances) having the
right to vote in the election of directors or other governing body of such Person. Notwithstanding
the foregoing, neither the Administrative Agent nor any Lender shall be deemed an “Affiliate” of
any Credit Party.

     “Agreement” means this Credit Agreement, as amended, modified, restated or
supplemented from time to time in accordance with its terms.

     “Aggregate Credit Exposure” means, at any time, the sum of (i) the aggregate principal
amount of Revolving Loans outstanding at such time, (ii) the aggregate Letter of Credit Exposure at
such time and (iii) the aggregate principal amount of Swingline Loans outstanding at such time.

     “Applicable Percentage” means, at any time from and after the Closing Date, the
applicable percentage (i) to be added to the Base Rate for purposes of determining the Adjusted
Base Rate, and (ii) (ii) to be added to the LIBOR Rate and the LIBOR Market Index Rate for purposes
of, respectively, determining the Adjusted LIBOR Rate and Adjusted LIBOR Market Index Rate, in each
case as determined under the following matrix with reference to the Senior Net Leverage Ratio:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Senior Net	 	Applicable	 	Applicable Base
	Level	 	Leverage Ratio	 	LIBOR Margin	 	Rate Margin
	I

	 	Greater than or equal to 4.00 to 1.0
	 	 	4.00	%	 	 	3.00	%
	 
	II

	 	Less than 4.00 to 1.0 but
greater than or equal to 3.25 to 1.0
	 	 	3.50	%	 	 	2.50	%

2

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Senior Net	 	Applicable	 	Applicable Base
	Level	 	Leverage Ratio	 	LIBOR Margin	 	Rate Margin
	III

	 	Less than 3.25 to 1.0
but greater than or equal to 2.50 to 1.0
	 	 	3.00	%	 	 	2.00	%
	 
	IV

	 	Less than 2.50 to 1.0
	 	 	2.50	%	 	 	1.50	%

     On each Adjustment Date (as hereinafter defined), the Applicable Percentage for all Loans
shall be adjusted effective as of such Adjustment Date (based upon the calculation of the Senior
Net Leverage Ratio as of the last day of the Reference Period to which such Adjustment Date
relates) in accordance with the above matrix; provided, however, that,
notwithstanding the foregoing or anything else herein to the contrary, (i) if at any time the
Borrower shall have failed to deliver any of the financial statements as required by
Sections 6.1(a) or 6.1(b), as the case may be, or the Compliance Certificate as required by Section
6.2(a), then at all times from and including the date on which such statements and Compliance
Certificate are required to have been delivered until the date on which the same shall have been
delivered, each Applicable Percentage shall be determined based on Level I above (notwithstanding
the actual Senior Net Leverage Ratio), and (ii) the determination of the Applicable Percentage
shall be subject to Section 2.8(f). For purposes of this definition, “Adjustment Date”
means, with respect to any Reference Period of the Borrower beginning with the Reference Period
ending as of the last day of the second fiscal quarter of fiscal year 2011, the day (or, if such
day is not a Business Day, the next succeeding Business Day) of delivery by the Borrower in
accordance with Section 6.1(a) or Section 6.1(b), as the case may be, of (i) financial statements
as of the end of and for such Reference Period and (ii) a duly completed Compliance Certificate
with respect to such Reference Period. From the Closing Date until the first Adjustment Date
requiring a change in any Applicable Percentage as provided herein, each Applicable Percentage
shall be based on Level III above.

     “Approved Fund” means any Fund that is administered, underwritten or managed by (i) a
Lender, (ii) an Affiliate of a Lender, or (iii) a Person (or an Affiliate of a Person) that
administers or manages a Lender.

     “Asset Disposition” means any sale, assignment, lease, conveyance, transfer or other
disposition by the Borrower or any of its Subsidiaries (whether in one or a series of transactions)
of all or any of its assets, business or other properties (including Capital Stock of
Subsidiaries), other than pursuant to a Casualty Event.

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

     “Authorized Officer” means, with respect to any action specified herein to be taken by
or on behalf of a Credit Party, any officer of such Credit Party duly authorized by resolution of
its board of directors or other governing body to take such action on its behalf, and whose
signature and incumbency shall have been certified to the Administrative Agent by the secretary or
an assistant secretary of such Credit Party.

     “Bankruptcy Code” means 11 U.S.C. §§ 101 et seq., as amended from time
to time, and any successor statute, and all regulations from time to time promulgated thereunder.

     “Bankruptcy Event” means the occurrence of an Event of Default pursuant to Section
9.1(f) or Section 9.1(g).

3

 

     “Base Rate” means the higher of (i) the per annum interest rate publicly announced
from time to time by Wells Fargo in Charlotte, North Carolina, to be its prime rate (which may not
necessarily be its lowest or best lending rate), as adjusted to conform to changes as of the
opening of business on the date of any such change in such prime rate, (ii) the Federal Funds Rate
plus 0.5% per annum, as adjusted to conform to changes as of the opening of business on the date of
any such change in the Federal Funds Rate, and (iii) the LIBOR Rate for an Interest Period of 1
month plus 1.50%, as adjusted to conform to changes as of the opening of business on the date of
any such change of such LIBOR Rate.

     “Base Rate Loan” means, at any time, any Loan that bears interest at such time at the
applicable Adjusted Base Rate.

     “Borrower” has the meaning given to such term in the introductory paragraph hereof.

     “Borrowing” means the incurrence by the Borrower (including as a result of conversions
and continuations of outstanding Loans pursuant to Section 2.11) on a single date of a group of
Loans of a single Class and Type and, in the case of LIBOR Loans, as to which a single Interest
Period is in effect.

     “Borrowing Date” means, with respect to any Borrowing, the date upon which such
Borrowing is made.

     “Business Day” means (i) any day other than a Saturday or Sunday, a legal holiday or a
day on which commercial banks in Charlotte, North Carolina or New York, New York are authorized or
required by law to be closed and (ii) in respect of any determination relevant to a LIBOR Loan or a
LIBOR Market Index Loan, any such day that is also a day on which trading in Dollar deposits is
conducted by banks in London, England in the London interbank Eurodollar market.

     “Capital Expenditures” means, for any period, the aggregate amount (whether paid in
cash or accrued as a liability) that would, in accordance with GAAP, be included on the
consolidated statement of cash flows of the Borrower and its Subsidiaries for such
period as additions to equipment, fixed assets, real property or improvements or other capital
assets (including, without limitation, Capital Lease Obligations); provided,
however, that Capital Expenditures shall not include any such expenditures (i) for
replacements, repairs or acquisitions of capital assets, to the extent made with the proceeds of
insurance in accordance with Section 2.6(c), (ii) for replacements, repairs or acquisitions of
capital assets, to the extent made with proceeds from Asset Dispositions permitted under
Sections 8.4(ii) or 8.4(v), or (iii) included within the Acquisition Amount of any Permitted
Acquisition.

     “Capital Lease” means, with respect to any Person, any lease of property (whether
real, personal or mixed) by such Person as lessee that is or is required to be, in accordance with
GAAP, recorded as a capital lease on such Person’s balance sheet.

     “Capital Lease Obligations” means, with respect to any Person, the obligations of such
Person to pay rent or other amounts under any Capital Leases, and the amount of such obligations
shall be the capitalized amount thereof determined in accordance with GAAP.

     “Capital Stock” means (i) with respect to any Person that is a corporation, any and
all shares, interests or equivalents in capital stock (whether voting or nonvoting, and whether
common or preferred) of such corporation, and (ii) with respect to any Person that is not a
corporation, any and all partnership, membership, limited liability company or other equity
interests of such Person; and in each case, any and all warrants, rights or options to purchase any
of the foregoing.

     “Cash Collateral Account” has the meaning given to such term in Section 3.8.

4

 

     “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative
Agent, for the benefit of the Administrative Agent (with any interest earned thereon to be credited
as additional collateral), the Issuing Bank or the Swingline Lender (as applicable) and the
Lenders, as collateral for the Letter of Credit Exposure, the Swingline Exposure, or obligations of
Lenders to fund participations in respect of either thereof (as the context may require), cash or
deposit account balances or, if the Issuing Bank or the Swingline Lender benefiting from such
collateral shall agree in its sole discretion, other credit support, in each case pursuant to
documentation in form and substance satisfactory to (a) the Administrative Agent and (b) the
Issuing Bank or the Swingline Lender. “Cash Collateral” shall have a meaning correlative
to the foregoing and shall include the proceeds of such cash collateral and other credit support.

     “Cash Equivalents” means (i) securities issued or unconditionally guaranteed or
insured by the United States of America or any agency or instrumentality thereof, backed by the
full faith and credit of the United States of America and maturing within one year from the date of
acquisition, (ii) commercial paper issued by any Person organized under the laws of the United
States of America, maturing within 180 days from the date of acquisition and, at the time of
acquisition, having a rating of at least A-1 or the equivalent thereof by Standard & Poor’s Ratings
Services or at least P-1 or the equivalent thereof by Moody’s Investors Service, Inc., (iii) time
deposits and certificates of deposit maturing within 180 days from the date of issuance and issued
by a bank or trust company organized under the laws of the United States of America or any state
thereof (y) that has combined capital and surplus of at least $500,000,000 or (z) that has (or is a
subsidiary of a bank holding company that has) a long-term unsecured debt rating of at least A or
the equivalent thereof by Standard & Poor’s Ratings Services or at least A2 or the equivalent
thereof by Moody’s Investors Service, Inc., (iv) repurchase obligations with a term not exceeding
30 days with respect to underlying securities of the types described in clause (i) above entered
into with any bank or trust company meeting the qualifications specified in clause (iii) above, and
(v) money market funds at least 95% of the assets of which are continuously invested in securities
of the foregoing types.

     “Casualty Event” means, with respect to any property (including any interest in
property) of any Credit Party, any loss of, damage to, or condemnation or other taking of, such
property for which such Credit Party receives insurance proceeds, proceeds of a condemnation award
or other compensation.

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

     “Change of Control” means the occurrence of any of the following: (i) any Person or
group of Persons acting in concert as a partnership or other group shall have become, as a result
of a tender or exchange offer, open market purchases, privately negotiated purchases or otherwise,
the beneficial owner of outstanding Capital Stock of the Borrower having 30% or more of the Total
Voting Power of the Borrower (other than any such Person owning in excess of 15% of the Total
Voting Power of the Borrower as of the date hereof), or (ii) during any period of up to twelve
consecutive months, a majority of the members of the Board of Directors of the Borrower ceases to
be composed of individuals that are Continuing Directors

     “Class” has the meaning given to such term in Section 2.2(a).

     “Closing Date” means the date upon which the initial extensions of credit are made
pursuant to this Agreement, which shall be the initial date after the execution and delivery of
this Agreement upon

5

 

which each of the conditions set forth in Sections 4.1 and 4.2 shall have been satisfied or waived
in accordance with the terms of this Agreement.

     “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any
successor statute, and all rules and regulations from time to time promulgated thereunder.

     “Collateral” means all the assets, property and interests in property that shall from
time to time be pledged or be purported to be pledged as direct or indirect security for the
Obligations pursuant to any one or more of the Security Documents.

     “Commitment” means, with respect to any Lender at any time, the commitment of such
Lender to make Revolving Loans in an aggregate principal amount at any time outstanding up to the
amount set forth opposite such Lender’s name on Schedule 1.1(a) under the caption “Commitment” or,
if such Lender has entered into one or more Assignment and Assumptions, the amount set forth for
such Lender at such time in the Register maintained by the Administrative Agent pursuant to Section
11.6(c) as such Lender’s “Commitment,” in either case, as such amount may be reduced at or prior to
such time pursuant to the terms hereof.

     “Compliance Certificate” means a fully completed and duly executed certificate in the
form of Exhibit C, together with a Covenant Compliance Worksheet.

     “Consolidated EBITDA” means, for any Reference Period, the aggregate of
(i) Consolidated Net Income for such period, plus (ii) the sum of (A) Consolidated Interest
Expense, (B) foreign, federal, state, local and other income taxes, and (C) depreciation and
amortization all to the extent taken into account in the calculation of Consolidated Net Income for
such Reference Period and all calculated in accordance with GAAP, plus (iii) extraordinary
losses, to the extent taken into account in the calculation of Consolidated Net Income for such
Reference Period; minus (iv) extraordinary gains or income, to the extent taken into
account in the calculation of Consolidated Net Income for such Reference Period, plus (v)
compensation paid by the Borrower and its Subsidiaries in the form of stock of the Borrower, the
extent taken into account in the calculation of Consolidated Net Income for such period,
plus (vi) any nonrecurring transaction costs and expenses incurred in connection with the
private placement of the equity of the Borrower, to the extent documented and approved by the
Administrative Agent, in its reasonable discretion, plus (vii) any nonrecurring transaction
costs and expenses incurred in connection with Permitted Acquisitions, to the extent documented and
approved by the Administrative Agent, in its reasonable discretion, plus(viii) for the
fiscal year ending December 31, 2011, to the extent taken into account in the calculation of
Consolidated Net Income for such fiscal year (or portion thereof) and to be evidenced by
documentation reasonably satisfactory to the Administrative Agent, the sum of (A) nonrecurring
costs and expenses incurred in connection with the merger with and into Coolbrands International,
Inc. not to exceed $5,125,000, and (B) nonrecurring costs and expenses incurred in connection with
the private placement of the equity of the Borrower that closed in February, 2011 and the
acquisition by the Borrower of Choice Environmental Services, Inc. and its Subsidiaries, not to
exceed $3,500,000 in the aggregate; provided that the Consolidated EBITDA of the Borrower
and its Subsidiaries for the fiscal year ending December 31, 2011 (or any portion thereof) shall be
calculated on a Pro Forma Basis as if any acquisition consummated during the period beginning
August 18, 2010 and ending on the Closing Date, had been consummated on the first day of the
applicable Reference Period; and provided further that Consolidated EBITDA of the
Borrower and its Subsidiaries for any Reference Period shall be calculated on a Pro Forma Basis as
if any Permitted Acquisition consummated during such Reference Period (but after the Closing Date)
had been consummated on the first day of such Reference Period provided that any such additions or
reductions to Consolidated EBITDA as a result of the foregoing shall have been approved by the
Administrative Agent in its reasonable discretion (such approval not to be required for the
consummation of the Acquisition itself unless otherwise required

6

 

herein) based upon a review of the highest quality financial statements or financial data
available to the Borrower with respect to such Acquisition.

     “Consolidated Fixed Charges” means, for any Reference Period, the aggregate (without
duplication) of the following, all determined on a consolidated basis for the Borrower and its
Subsidiaries in accordance with GAAP: (i) Consolidated Interest Expense to the extent paid (or
required to be paid) in cash during such Reference Period, (ii) aggregate tax expense to the extent
paid (or required to be paid) in cash during such Reference Period, (iii) the aggregate (without
duplication) of all scheduled payments of principal on Funded Debt required to be made in the next
12 months (other than payments on Convertible Seller Notes), and (iv) the aggregate of all amounts
paid or declared to be paid (without duplication) by the Borrower or any of its Subsidiaries during
such Reference Period as cash dividends or cash distributions in respect of its Capital Stock or to
purchase, redeem, retire or otherwise acquire its Capital Stock.

     “Consolidated Funded Senior Debt” means, as of any date of determination, the
aggregate (without duplication) of all Funded Debt of the Borrower and its Subsidiaries as of such
date that does not constitute Subordinated Indebtedness (to the extent such Subordinated
Indebtedness is evidenced by a written instrument in form and substance, including subordination
provisions, approved in writing by the Administrative Agent).

     “Consolidated Interest Expense” means, for any Reference Period, the sum
(without duplication) of (i) total interest expense of the Borrower and its Subsidiaries for such
Reference Period in respect of Consolidated Total Funded Debt (including, without limitation, all
such interest expense accrued or capitalized during such Reference Period, whether or not actually
paid during such Reference Period), determined on a consolidated basis in accordance with GAAP,
(ii) all net amounts payable under or in respect of interest rate Hedge Agreements, to the extent
paid or accrued by the Borrower and its Subsidiaries during such Reference Period, and (iii) all
recurring unused commitment fees and other ongoing fees in respect of Funded Debt (including the
unused fees provided for under Section 2.9(b)) paid, accrued or capitalized by the Borrower and its
Subsidiaries during such Reference Period.

     “Consolidated Net Income” means, for any Reference Period, net income (or loss) for
the Borrower and its Subsidiaries for such Reference Period, determined on a consolidated basis in
accordance with GAAP (after deduction for minority interests); provided that, in making
such determination, there shall be excluded (i) the net income of any other Person that is not a
Subsidiary of the Borrower (or is accounted for by the Borrower by the equity method of accounting)
except to the extent of actual payment of cash dividends or distributions by such Person to the
Borrower or any Subsidiary of the Borrower during such Reference Period, (ii) the net income (or
loss) of any other Person acquired by, or merged with, the Borrower or any of its Subsidiaries for
any period prior to the date of such acquisition or merger, and (iii) the net income of any
Subsidiary of the Borrower to the extent that the declaration or payment of dividends or similar
distributions by such Subsidiary of such net income is not at the time permitted by operation of
the terms of its charter, certificate of incorporation or formation or other constituent document
or any agreement or instrument (other than a Credit Document) or Requirement of Law applicable to
such Subsidiary.

     “Consolidated Total Funded Debt” means, as of any date of determination, the aggregate
(without duplication) of all Funded Debt of the Borrower and its Subsidiaries as of such date.

     “Contingent Purchase Price Obligations” means any earnout obligations or similar
deferred or contingent purchase price obligations of the Borrower or any of its Subsidiaries
incurred or created in connection with an Acquisition.

7

 

     “Continuing Directors” means, as of any date, members of the board of directors of the
Borrower (i) who were members of that board or equivalent governing body on the date twelve months
prior to such date (but not prior to the Closing Date), (ii) whose election or nomination to that
board or equivalent governing body was approved by individuals referred to in clause (i) above
constituting at the time of such election or nomination at least a majority of that board or
equivalent governing body, or (iii) whose election or nomination to that board or other equivalent
governing body was approved by individuals referred to in clauses (i) and (ii) above constituting
at the time of such election or nomination at least a majority of that board or equivalent
governing body.

     “Control” means, with respect to any Person, the possession, direct or indirect, of
the power to direct or cause the direction of the management and policies of such Person, whether
through the ownership of voting securities, by contract or otherwise; and the terms “Controlled”
and “Controlling” have correlative meanings.

     “Convertible Seller Notes” means promissory notes issued by the Borrower or its
Subsidiaries issued in connection with Permitted Acquisitions and other acquisitions consummated
prior to the Closing Date that may be convertible into Capital Stock of the Borrower.

     “Covenant Compliance Worksheet” means a fully completed worksheet in the form of
Attachment A to Exhibit C.

     “Credit Documents” means this Agreement, the Notes, the Letters of Credit, the
Security Agreement, the Mortgages, any other Security Documents, and all other agreements,
instruments, documents and certificates now or hereafter executed and delivered to the
Administrative Agent or any Lender by or on behalf of the Borrower or any other Credit Party with
respect to this Agreement, in each case as amended, modified, supplemented or restated from time to
time; but specifically excluding any Hedge Agreement to which the Borrower and any Hedge Party are
parties.

     “Credit Exposure” means, with respect to any Lender at any time, the sum of (i) the
aggregate principal amount of all Loans made by such Lender that are outstanding at such time, (ii)
such Lender’s Swingline Exposure at such time and (iii) such Lender’s Letter of Credit Exposure at
such time.

     “Credit Parties” means the Borrower, the Borrower’s Subsidiaries, and their respective
successors.

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

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

     “Defaulting Lender” means any Lender that, as determined by the Administrative Agent
(with notice to the Borrower of such determination), (i) has failed to perform any of its funding
obligations hereunder, including in respect of its Loans or participations in Letters of Credit,
within one Business Day of the date required to be funded by it hereunder, (ii) has notified the
Borrower or the Administrative Agent or the Issuing Lender that it does not intend to comply with
its funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder or under other agreements in which it commits to extend credit, (iii) has
failed, within three Business Days after request by the Administrative Agent, to confirm in a
manner satisfactory to the Administrative Agent that it will comply

8

 

with its funding obligations, or (iv) has, or has a direct or indirect parent company that has (a)
become the subject of a proceeding under any Debtor Relief Law, or (b) had appointed for it a
receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or
similar Person charged with reorganization or liquidation or its business or assets, including the
Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in
such a capacity; provided, that a Lender shall not be a Defaulting Lender solely by virtue
of the ownership or acquisition of any equity interest in that Lender or any direct or indirect
parent company thereof by a Governmental Authority.

     “Disqualified Capital Stock” means, with respect to any Person, any Capital Stock of
such Person that, by its terms (or by the terms of any security into which it is convertible or for
which it is exchangeable), or upon the happening of any event or otherwise, (i) matures or is
mandatorily redeemable or subject to any mandatory repurchase requirement, pursuant to a sinking
fund obligation or otherwise, (ii) is redeemable or subject to any mandatory repurchase requirement
at the sole option of the holder thereof, or (iii) is convertible into or exchangeable for (whether
at the option of the issuer or the holder thereof) (y) debt securities or (z) any Capital Stock
referred to in (i) or (ii) above, in each case under (i), (ii) or (iii) above at any time on or
prior to the first anniversary of the Maturity Date; provided, however, that only
the portion of Capital Stock that so matures or is mandatorily redeemable, is so redeemable at the
option of the holder thereof, or is so convertible or exchangeable on or prior to such date shall
be deemed to be Disqualified Capital Stock.

     “Dollars” or “$” means dollars of the United States of America.

     “Environmental Claims” means any and all administrative, regulatory or judicial
actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation,
investigations by a Governmental Authority, or proceedings (including, without limitation,
administrative, regulatory and judicial proceedings) relating in any way to any Hazardous
Substance, any actual or alleged violation of or liability under any Environmental Law or any
permit issued, or any approval given, under any Environmental Law (collectively, “Claims”),
including, without limitation, (i) any and all Claims by Governmental Authorities for enforcement,
cleanup, removal, response, remedial or other actions or damages pursuant to any applicable
Environmental Law and (ii) any and all Claims by any third party seeking damages, contribution,
indemnification, cost recovery, compensation or injunctive relief resulting from any Hazardous
Substance or arising from alleged injury to human health or the environment.

     “Environmental Laws” means any and all federal, state and local laws, statutes,
ordinances, rules, regulations, permits, licenses, approvals, rules of common law and orders of
courts or Governmental Authorities, relating to the protection of human health, occupational safety
with respect to exposure to Hazardous Substances, or the environment, now or hereafter in effect,
and in each case as amended from time to time, including, without limitation, requirements
pertaining to the manufacture, processing, distribution, use, treatment, storage, disposal,
transportation, handling, reporting, licensing, permitting, investigation or remediation of
Hazardous Substances.

     “Equity Issuance” means the issuance, sale or other disposition by any Credit Party of
its Capital Stock or the receipt by the Borrower after the Closing Date of any capital contribution
(whether or not evidenced by any Capital Stock issued by the recipient of such contribution).

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time, and any successor statute, and all rules and regulations from time to time
promulgated thereunder.

     “ERISA Affiliate” means any Person (including any trade or business, whether or not
incorporated) deemed to be under “common control” with, or a member of the same “controlled group”

9

 

as, the Borrower or any of its Subsidiaries, within the meaning of Sections 414(b), (c), (m) or (o)
of the Code or Section 4001 of ERISA.

     “ERISA Event” means any of the following with respect to a Plan or Multiemployer Plan,
as applicable: (i) a Reportable Event, (ii) a complete or partial withdrawal by the Borrower or
any ERISA Affiliate from a Multiemployer Plan that results in liability under Section 4201 or 4204
of ERISA, or the receipt by the Borrower or any ERISA Affiliate of notice from a Multiemployer Plan
that it is in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA or that it
intends to terminate or has terminated under Section 4041A of ERISA, (iii) the distribution by the
Borrower or any ERISA Affiliate under Section 4041 or 4041A of ERISA of a notice of intent to
terminate any Plan or the taking of any action to terminate any Plan, (iv) the commencement of
proceedings by the PBGC under Section 4042 of ERISA for the termination of, or the appointment of a
trustee to administer, any Plan, or the receipt by the Borrower or any ERISA Affiliate of a notice
from any Multiemployer Plan that such action has been taken by the PBGC with respect to such
Multiemployer Plan, (v) the institution of a proceeding by any fiduciary of any Multiemployer Plan
against the Borrower or any ERISA Affiliate to enforce Section 515 of ERISA, which is not dismissed
within 30 days, (vi) the imposition upon the Borrower or any ERISA Affiliate of any liability under
Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA,
or the imposition or threatened imposition of any Lien upon any assets of the Borrower or any ERISA
Affiliate as a result of any alleged failure to comply with the Code or ERISA in respect of any
Plan, (vii) the engaging in or otherwise becoming liable for a nonexempt Prohibited Transaction by
the Borrower or any ERISA Affiliate, or a violation of the applicable requirements of Section 404
or 405 of ERISA or the exclusive benefit rule under Section 401(a) of the Code by any fiduciary of
any Plan for which the Borrower or any of its ERISA Affiliates may be directly or indirectly
liable, (viii) the failure of any Plan to satisfy the minimum funding standard of Section 302 of
ERISA and Section 412 of the Code, whether or not waived, (ix) with respect to plan years beginning
prior to January 1, 2008, the adoption of an amendment to any Plan that, pursuant to Section 307 of
ERISA, would require the provision of security to such Plan by the Borrower or an ERISA Affiliate,
or (x) with respect to plan years beginning on or after the PPA 2006 Effective Date, the incurrence
of an obligation to provide a notice under Section 101(j) of ERISA, the adoption of an amendment
which may not take effect due to the application of Section 436(c)(1) of the Code or Section
206(g)(2)(A) of ERISA, or the payment of a contribution in order to satisfy the requirements of
Section 436(c)(2) of the Code or Section 206(g)(2)(B) of ERISA.

     “Event of Default” has the meaning given to such term in Section 9.1.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to
time, and any successor statute, and all rules and regulations from time to time promulgated
thereunder.

     “Excluded Asset Disposition” means (i) any Asset Disposition permitted under
Sections 8.4, (ii) any Asset Disposition with Net Cash Proceeds less than $2,500,000, and (iii) any
Equity Issuance or Casualty Event.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the
Issuing Lender or any other recipient of any payment to be made by or on account of any obligation
of the Borrower hereunder, (i) taxes imposed on or measured by its overall net income (however
denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction
(or any political subdivision thereof) under the laws of which such recipient is organized or in
which its principal office is located or, in the case of any Lender, in which its applicable
Lending Office is located, (ii) any branch profits taxes imposed by the United States or any
similar tax imposed by any other jurisdiction in which the Borrower is located, (iii) in the case
of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section
2.19(a)), any withholding tax that is imposed on amounts payable to such

10

 

Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new Lending
Office) or is attributable to such Foreign Lender’s failure or inability (other than as a result of
a Change in Law) to comply with Section 2.17(e), except to the extent that such Foreign Lender (or
its assignor, if any) was entitled, at the time of designation of a new Lending Office (or
assignment), to receive additional amounts from the Borrower with respect to such withholding tax
pursuant to Section 2.17(a) and (iv) any U.S. Federal withholding taxes imposed by FATCA.

     “Existing Senior Credit Facilities” has the meaning given to such term in Section
4.1(f).

     “FATCA” means Sections 1471 through 1474 of the Code and any regulations or official
interpretations thereof.

     “Federal Funds Rate” means, for any period, a fluctuating per annum interest rate
(rounded upwards, if necessary, to the nearest 1/100 of one percentage point) equal for each day
during such period to the weighted average of the rates on overnight federal funds transactions
with members of the Federal Reserve System arranged by federal funds brokers, as published 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 that is a
Business Day, the average of the quotations for such day on such transactions received by the
Administrative Agent from three federal funds brokers of recognized standing selected by the
Administrative Agent.

     “Federal Reserve Board” means the Board of Governors of the Federal Reserve System or
any successor thereto.

     “Financial Officer” means, the chief financial officer, vice president — finance,
principal accounting officer or treasurer of the Borrower.

     “fiscal quarter” or “FQ” means a fiscal quarter of the Borrower and its
Subsidiaries.

     “fiscal year” or “FY” means a fiscal year of the Borrower and its
Subsidiaries.

     “Fixed Charge Coverage Ratio” means, as of the last day of any Reference Period ending
on the last day of a fiscal quarter, the ratio of (i) Consolidated EBITDA for such Reference Period
minus, beginning with the fiscal quarter ending December 31, 2011, unfinanced Capital
Expenditures (but including Capital Expenditures financed with Loans) to the extent paid (or
required to be paid) in cash during such Reference Period, to (ii) Consolidated Fixed Charges for
such Reference Period.

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

     “Foreign Subsidiary” means a Subsidiary of the Borrower that is a “controlled foreign
corporation,” as such term is defined in Section 957 of the Code.

     “Fronting Exposure” means, at any time there is a Defaulting Lender, (i) with respect
to the Issuing Bank, such Defaulting Lender’s Letter of Credit Exposure with respect to Letters of
Credit issued by the Issuing Bank other than such portion of such Defaulting Lender’s Letter of
Credit Exposure as to which such Defaulting Lender’s participation obligation has been reallocated
to other Lenders or Cash Collateralized in accordance with Section 2.20, and (ii) with respect to
any Swingline Lender, such Defaulting Lender’s Swingline Exposure with respect to outstanding
Swingline Loans made by the

11

 

Swingline Lender other than Swingline Loans as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with Section
2.20.

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

     “Funded Debt” means, with respect to any Person, all Indebtedness of such Person
(other than Indebtedness of the types referred to in clauses (ix) and (x) of the definition of
“Indebtedness” and other than permitted intercompany Indebtedness) and all Guaranty
Obligations with respect to Funded Debt of other Persons.

     “GAAP” means generally accepted accounting principles in the United States of America,
as set forth in the statements, opinions and pronouncements of the Accounting Principles Board, the
American Institute of Certified Public Accountants and the Financial Accounting Standards Board,
consistently applied and maintained, as in effect from time to time (subject to the provisions of
Section 1.2).

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

     “Guarantor” means any Subsidiary of the Borrower that is a guarantor of the
Obligations under the Guaranty (or under another guaranty agreement in form and substance
satisfactory to the Administrative Agent) and has granted to the Administrative Agent a Lien upon
and security interest in its personal property assets pursuant to the Security Agreement.

     “Guaranty” means a guaranty agreement made by the Guarantors in favor of the
Administrative Agent and the Lenders, in substantially the form of Exhibit F, as amended, modified,
restated or supplemented from time to time.

     “Guaranty Obligation” means, with respect to any Person, any direct or indirect
liability of such Person with respect to any Indebtedness, liability or other obligation (the
“primary obligation”) of another Person (the “primary obligor”), whether or not
contingent, (i) to purchase, repurchase or otherwise acquire such primary obligation or any
property constituting direct or indirect security therefor, (ii) to advance or provide funds
(x) for the payment or discharge of any such primary obligation or (y) to maintain working capital
or equity capital of the primary obligor or otherwise to maintain the net worth or solvency or any
balance sheet item, level of income or financial condition of the primary obligor (including,
without limitation, keep well agreements, maintenance agreements, comfort letters or similar
agreements or arrangements), (iii) to lease or purchase property, securities or services primarily
for the purpose of assuring the owner of any such primary obligation of the ability of the primary
obligor in respect thereof to make payment of such primary obligation or (iv) otherwise to assure
or hold harmless the owner of any such primary obligation against loss or failure or inability to
perform in respect thereof; provided, however, that, with respect to the Borrower
and its Subsidiaries, the term Guaranty Obligation shall not include endorsements for collection or
deposit in the ordinary course of business. The amount of any Guaranty Obligation of any
guaranteeing Person hereunder shall be deemed to be the lower of (a) an amount equal to the stated
or determinable amount of the primary obligation in respect of which such Guaranty Obligation is
made and (b) the maximum amount for which such guaranteeing Person may be liable pursuant to the
terms of the instrument embodying such Guaranty Obligation, unless such primary obligation and the
maximum amount for which such guaranteeing Person may be liable are not stated or

12

 

determinable, in which case the amount of such Guaranty Obligation shall be such guaranteeing
Person’s maximum reasonably anticipated liability in respect thereof as determined by such
guaranteeing Person in good faith.

     “Hazardous Substance” means any substance or material meeting any one or more of the
following criteria: (i) it is or contains a substance designated as a hazardous waste, hazardous
substance, hazardous material, pollutant, contaminant or toxic substance under any Environmental
Law, (ii) it is toxic, explosive, corrosive, ignitable, infectious, radioactive, mutagenic or
otherwise hazardous to human health or the environment and is regulated by any Governmental
Authority, (iii) its presence may require investigation or response under any Environmental Law, or
(iv) it is or contains, without limiting the foregoing, asbestos, polychlorinated biphenyls, urea
formaldehyde foam insulation, petroleum hydrocarbons, petroleum derived substances or wastes, crude
oil, nuclear fuel, natural gas or synthetic gas.

     “Hedge Agreement” means any interest or foreign currency rate swap, cap, collar,
option, hedge, forward rate or other similar agreement or arrangement designed to protect against
fluctuations in interest rates, currency exchange rates or spot prices of new materials.

     “Hedge Party” means any Lender or any Affiliate of any Lender in its capacity as a
counterparty to any Hedge Agreement with the Borrower or any Subsidiary, which Hedge Agreement is
required or permitted under this Agreement to be entered into by the Borrower, or any former Lender
or any Affiliate of any former Lender in its capacity as a counterparty to any such Hedge Agreement
entered into prior to the date such Person or its Affiliate ceased to be a Lender.

     “Indebtedness” means, with respect to any Person (without duplication), (i) all
obligations of such Person for borrowed money, (ii) all obligations of such Person evidenced by
notes, bonds, debentures or similar instruments, or upon which interest payments are customarily
made, (iii) the maximum stated or face amount of all surety bonds (other than, in the case of the
Borrower and its Subsidiaries, surety bonds issued in the ordinary course of business in connection
with the waste collection and related businesses), letters of credit and bankers’ acceptances
issued or created for the account of such Person and, without duplication, all drafts drawn
thereunder (to the extent unreimbursed), (iv) all obligations of such Person to pay the deferred
purchase price of property or services (excluding trade payables incurred in the ordinary course of
business and not more than 60 days past due, unless such delay in payment is due to the contesting
in good faith by the Borrower of the obligations owed pursuant to such trade payable), including
any Contingent Purchase Price Obligations, (v) all indebtedness created or arising under any
conditional sale or other title retention agreement with respect to property acquired by such
Person, (vi) all Capital Lease Obligations of such Person, (vii) all Disqualified Capital Stock
issued by such Person, with the amount of Indebtedness represented by such Disqualified Capital
Stock being equal to the greater of its voluntary or involuntary liquidation preference and its
maximum fixed repurchase price, (viii) the principal balance outstanding and owing by such Person
under any synthetic lease, tax retention operating lease or similar off-balance sheet financing
product, (ix) all Guaranty Obligations of such Person with respect to Indebtedness of another
Person, (x) the net termination obligations of such Person under any Hedge Agreements, calculated
as of any date as if such agreement or arrangement were terminated as of such date, and (xi) all
indebtedness of the types referred to in clauses (i) through (x) above (A) of any partnership or
unincorporated joint venture in which such Person is a general partner or joint venturer to the
extent such Person is liable therefor or (B) secured by any Lien on any property or asset owned or
held by such Person regardless of whether or not the indebtedness secured thereby shall have been
incurred or assumed by such Person or is nonrecourse to the credit of such Person, the amount
thereof being equal to the value of the property or assets subject to such Lien.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

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     “Intellectual Property” means (i) all inventions (whether or not patentable and
whether or not reduced to practice), all improvements thereto, and all patents, patent
applications, and patent disclosures, together with all reissues, continuations,
continuations-in-part, divisions, revisions, extensions, and reexaminations thereof, (ii) all
trademarks, service marks, trade dress, logos, trade names, and corporate names, together with all
goodwill associated therewith, and all applications, registrations, and renewals in connection
therewith, (iii) all copyrightable works and all copyrights (registered and unregistered), (iv) all
trade secrets and confidential information (including, without limitation, financial, business and
marketing plans and customer and supplier lists and related information), (v) all computer software
and software systems (including, without limitation, data, databases and related documentation),
(vi) all Internet web sites and domain names, (vii) all technology, know-how, processes and other
proprietary rights, and (viii) all licenses or other agreements to or from third parties regarding
any of the foregoing.

     “Interest Period” has the meaning given to such term in Section 2.10.

     “Investments” has the meaning given to such term in Section 8.5.

     “Issuing Lender” means Wells Fargo Bank, National Association, in its capacity as
issuer of Letters of Credit hereunder.

     “Knowledge of the Borrower” means the actual knowledge of any Responsible Officer of
the Borrower.

     “Lender” means each Person signatory hereto as a “Lender” and each other Person that
becomes a “Lender” hereunder pursuant to Section 11.6, and their respective successors and assigns,
and shall include the Swingline Lender, as the context requires.

     “Lending Office” means, with respect to any Lender, the office of such Lender
designated as such in such Lender’s Administrative Questionnaire or in connection with an
Assignment and Assumption, or such other office as may be otherwise designated in writing from time
to time by such Lender to the Borrower and the Administrative Agent. A Lender may designate
separate Lending Offices as provided in the foregoing sentence for the purposes of making or
maintaining different Types of Loans, and, with respect to LIBOR Loans, such office may be a
domestic or foreign branch or Affiliate of such Lender.

     “Letter of Credit Exposure” means, with respect to any Lender at any time, such
Lender’s ratable share (based on the proportion that its Commitment bears to the aggregate
Commitments at such time) of the sum of (i) the aggregate Stated Amount of all Letters of
Credit outstanding at such time and (ii) the aggregate amount of all Reimbursement Obligations
outstanding at such time.

     “Letter of Credit Maturity Date” means the fifth Business Day prior to the Maturity
Date.

     “Letter of Credit Notice” has the meaning given to such term in Section 3.2.

     “Letter of Credit Subcommitment” means $10,000,000 or, if less, the aggregate
Commitments at the time of determination, as such amount may be reduced at or prior to such time
pursuant to the terms hereof.

     “Letters of Credit” has the meaning given to such term in Section 3.1.

     “LIBOR Loan” means, at any time, any Loan that bears interest at such time at the
applicable Adjusted LIBOR Rate.

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     “LIBOR Market Index Rate” means, for any date, the rate for one month deposits in the
applicable Currency as reported on Reuters Screen LIBOR01 Page as of 11:00 a.m. London time, on
such day, or if such day is not a Business Day, then the immediately preceding Business Day (or if
not so reported, then as reasonably determined by the Administrative Agent from another recognized
source or interbank quotation).

     “LIBOR Market Index Rate Loan” means any Swingline Loan bearing interest at a rate
determined by reference to the LIBOR Market Index Rate.

     “LIBOR Rate” means, with respect to each LIBOR Loan comprising part of the same
Borrowing for any Interest Period, an interest rate per annum obtained by dividing (i) (y) the rate
of interest appearing on Reuters Screen LIBOR01 Page (or any successor page) that represents an
average British Bankers Association Interest Settlement Rate for Dollar deposits or (z) if no such
rate is available, the rate of interest determined by the Administrative Agent to be the rate or
the arithmetic mean of rates at which Dollar deposits in immediately available funds are offered to
first-tier banks in the London interbank Eurodollar market, in each case under (y) and (z) above at
approximately 11:00 a.m., London time, two Business Days prior to the first day of such Interest
Period for a period substantially equal to such Interest Period and in an amount substantially
equal to the amount of Wells Fargo’s LIBOR Loan comprising part of such Borrowing, by (ii) the
amount equal to 1.00 minus the Reserve Requirement (expressed as a decimal) for such Interest
Period.

     “Lien” means any mortgage, pledge, hypothecation, assignment, security interest, lien
(statutory or otherwise), charge or other encumbrance of any nature, whether voluntary or
involuntary, including, without limitation, the interest of any vendor or lessor under any
conditional sale agreement, title retention agreement, Capital Lease or any other lease or
arrangement having substantially the same effect as any of the foregoing.

     “Loan” means any or all of the Revolving Loans and the Swingline Loans.

     “Margin Stock” has the meaning given to such term in Regulation U.

     “Material Adverse Effect” shall mean a material adverse effect upon any of (i) the
financial condition, operations, business or properties of the Borrower and its Subsidiaries, taken
as a whole; (ii) the ability of the Borrower or any Material Subsidiary to perform its obligations
under this Agreement or any other Credit Document to which it is a party in any material respect or
any other material contract in any material respect to which any one or more of them is a party;
(iii) the legality, validity or enforceability of this Agreement or any other Credit Document; or
(iv) the perfection or priority of the Liens in favor of the Administrative Agent granted under
this Agreement or any other Credit Document or the rights and remedies of the Administrative Agent
or the Lenders under this Agreement or any other Credit Document (other than a change resulting
from any act or omission by the Administrative Agent or the Lenders).

     “Material Contract” means each contract to which any Credit Party is a party, by which
any Credit Party or its properties is bound or to which any Credit Party is subject, that the
breach or termination of which could reasonably be expected to result in a Material Adverse Effect.

     “Material Subsidiary” means Choice Environmental Services, Inc., Swisher
International, Inc., Swisher Hygiene Franchise Corp., HB Service, LLC, 7324375 Canada Inc., and
each other Subsidiary of the Borrower, the absence of revenue therefrom or assets thereof, could
reasonably be expected to have a Material Adverse Effect.

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     “Maturity Date” means July 31, 2013.

     “Maximum Availability” means the lesser of (A) the aggregate Commitments and (B) (i)
from the Closing Date until the delivery of each of (A) the financial statements for the fiscal
year ending December 31, 2010 in accordance with Section 6.1(b), (B) the financial statements for
the fiscal quarter ending March 31, 2011 in accordance with Section 6.1(a) and (C) the Compliance
Certificate for each such period in accordance with Section 6.1(c), in each case demonstrating
compliance with the financial covenants in Article VII as of the last day of each such period,
$32,500,000; provided that the failure to demonstrate such compliance shall result in the
Maximum Availability to remain at $32,500,000 thereafter until such time as the Borrower has
demonstrated such compliance with the respect to two consecutive fiscal quarters, at which time
Maximum Availability shall be determined in accordance with clause (ii) hereof; and (ii)
thereafter, an amount, at any time, equal to the maximum amount the Borrower would be permitted to
borrow to remain in compliance with Sections 7.1 and 7.2 at such time; provided,
however, that, notwithstanding anything to the contrary herein, “Maximum Availability”
shall not exceed $75,000,000 unless (y) the Borrower has deposited in a blocked account with the
Administrative Agent, for the benefit of the Lenders, Cash Collateral in the aggregate principal
amount of $25,000,000, or (z) each of the following conditions have been satisfied (such increase
in availability upon the satisfaction of such conditions in this clause (z), a “Specified
Availability Increase”): (A) the Borrower shall be in Pro Forma compliance with the financial
covenants in Article VII hereof (including as such covenants are applicable pursuant to the terms
thereof following the occurrence of a Specified Availability Increase) both before and after giving
effect to such Specified Availability Increase, and (B) Wells Fargo shall have assigned at least
$25,000,000 of its Commitment to another Lender reasonably satisfactory to the Administrative
Agent.

     “Mortgage” means any mortgage, deed of trust, deed to secure debt, collateral
assignment of lease or similar agreement or instrument pursuant to which any Credit Party grants in
favor of the Administrative Agent, for its benefit and the benefit of the Lenders, a security
interest in and Lien upon any fee or leasehold interest in real property owned by it, as amended,
modified, restated or supplemented from time to time.

     “Multiemployer Plan” means any “multiemployer plan” within the meaning of
Section 4001(a)(3) of ERISA to which the Borrower or any ERISA Affiliate makes, is making or is
obligated to make contributions or has made or been obligated to make contributions.

     “Net Cash Proceeds” means, in the case of any Casualty Event or Asset Disposition, the
aggregate cash proceeds received by any Credit Party in respect thereof (including, in the case of
a Casualty Event, insurance proceeds and condemnation awards), less (i) reasonable fees and
out-of-pocket expenses payable by the Borrower or any of its Subsidiaries in connection therewith,
(ii) taxes paid or payable as a result thereof, and (iii) the amount required to retire
Indebtedness to the extent such Indebtedness is secured by Permitted Liens on the subject property;
it being understood that the term “Net Cash Proceeds” shall include, as and when received,
any cash received upon the sale or other disposition of any non-cash consideration received by any
Credit Party in respect of any of the foregoing events.

     “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting
Lender at such time.

     “Notice of Swingline Borrowing” has the meaning given to such term in Section 2.2(d).

     “Notes” means any or all of the Revolving Notes and the Swingline Note.

     “Notice of Borrowing” has the meaning given to such term in Section 2.2(b).

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     “Notice of Conversion/Continuation” has the meaning given to such term in Section
2.11(b).

     “Obligations” means all principal of and interest (including interest accruing after
the filing of a petition or commencement of a case by or with respect to the Borrower seeking
relief under any applicable federal and state laws pertaining to bankruptcy, reorganization,
arrangement, moratorium, readjustment of debts, dissolution, liquidation or other debtor relief,
specifically including, without limitation, the Bankruptcy Code and any fraudulent transfer and
fraudulent conveyance laws, whether or not the claim for such interest is allowed in such
proceeding) on the Loans and Reimbursement Obligations and all fees, expenses, indemnities and
other obligations owing, due or payable at any time by the Borrower or any Subsidiary Guarantor to
the Administrative Agent, any Lender (including the Swingline Lender), the Issuing Lender or any
other Person entitled thereto, under this Agreement or any of the other Credit Documents, and all
payment and other obligations owing or payable at any time by the Borrower to any Hedge Party under
or in connection with any Hedge Agreement required or permitted by this Agreement, in each case
whether direct or indirect, joint or several, absolute or contingent, matured or unmatured,
liquidated or unliquidated, secured or unsecured, and whether existing by contract, operation of
law or otherwise.

     “OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control,
and any successor thereto.

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

     “Participant” has the meaning given to such term in Section 11.6(d).

     “PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT Act) of 2001, as amended from time
to time, and any successor statute, and all rules and regulations from time to time promulgated
thereunder.

     “Payment Office” means the office as the Administrative Agent may designate to the
Lenders and the Borrower for such purpose from time to time.

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

     “Permitted Acquisition” means (a) any Acquisition to which the Required Lenders (or
the Administrative Agent on their behalf) shall have given their prior written consent (which
consent may be in their sole discretion and may be given subject to such additional terms and
conditions as the Required Lenders shall establish), or (b) any Acquisition with respect to which
all of the following conditions and requirements have been satisfied or waived in writing by the
Required Lenders (or the Administrative Agent on their behalf):

     (i) each business acquired shall be within the permitted lines of business
described in Section 8.12;

     (ii) any Capital Stock given as consideration in connection therewith shall be
Capital Stock of the Borrower (except as permitted in clause (iii));

17

 

     (iii) except as may be permitted pursuant to Section 8.5(xi), in the case of an
Acquisition involving the acquisition of control of Capital Stock of any Person, immediately
after giving effect to such Acquisition such Person (or the surviving Person, if the
Acquisition is effected through a merger or consolidation) shall be a Wholly Owned
Subsidiary of the Borrower;

     (iv) the Person to be acquired (or its board of directors or equivalent governing
body) has not (A) announced it will oppose such Acquisition or (B) commenced any action
which alleges that such Acquisition violates, or will violate, any Requirement of Law;

     (v) no Default or Event of Default shall have occurred and be continuing at the
time of the consummation of such Permitted Acquisition or would exist immediately after
giving effect thereto;

     (vi) immediately after giving effect to such Permitted Acquisition and any
Borrowings in connection therewith, the Borrower shall be in compliance with the financial
covenants contained in Article VII (including, without limitation, compliance with the
applicable minimum Unencumbered Liquidity covenant), such compliance determined with regard
to calculations made on a Pro Forma Basis for the Reference Period then most recently ended
for which the Administrative Agent has received the financial statements required by Section
6.1 or 6.2 (and a Compliance Certificate);

     (vii) subject to compliance with Sections 8.5(viii) and (ix), the aggregate of the
Acquisition Amounts for all Permitted Acquisitions involving assets situated outside of the
United States of America or the Capital Stock of Persons organized outside the United States
of America shall not exceed $15,000,000 during the term of this Agreement; and

     (viii) all of the conditions and requirements of Sections 6.9 and 6.10 applicable
to such Acquisition are satisfied.

     “Permitted Asset Disposition” means any Asset Disposition permitted under Section
8.4(v).

     “Permitted Liens” has the meaning given to such term in Section 8.3.

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

     “Plan” means any “employee pension benefit plan” within the meaning of Section 3(2) of
ERISA that is subject to the provisions of Title IV of ERISA (other than a Multiemployer Plan) and
to which the Borrower or any ERISA Affiliate may have any liability.

     “PPA 2006 Effective Date” means, with respect to any Plan, except as hereinafter
provided, the first day of the first plan year beginning on or after January 1, 2008, However,
solely with respect to a Plan maintained pursuant to one or more collective bargaining agreements
between employee representatives and one or more employers ratified before January 1, 2008, such
term means the first day of the first plan year beginning on or after the earlier of (A) and (B),
where (A) is the later of (x) the date on which the last collective bargaining agreement relating
to the Plan terminates (determined without regard to any extension thereof agreed to after August
17, 2006), or (y) the first day of the first plan year beginning on or after January 1, 2008; and
(B) is January 1, 2010.

     “Pro Forma Balance Sheet” has the meaning given to such term in Section 4.1(k).

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     “Pro Forma Basis” has the meaning given to such term in Section 1.3(c).

     “Prohibited Transaction” means any transaction described in (i) Section 406 of ERISA
that is not exempt by reason of Section 408 of ERISA or by reason of a Department of Labor
prohibited transaction individual or class exemption or (ii) Section 4975(c) of the Code that is
not exempt by reason of Section 4975(c)(2) or 4975(d) of the Code.

     “Projections” has the meaning given to such term in Section 5.10(e).

     “Realty” means all real property and interests in real property now or hereafter
acquired or leased by any Credit Party.

     “Reference Period” with respect to any date of determination, means (except as may be
otherwise expressly provided herein) the period of twelve consecutive fiscal months of the Borrower
immediately preceding such date or, if such date is the last day of a fiscal quarter, the period of
four consecutive fiscal quarters ending on such date.

     “Refunded Swingline Loans” has the meaning given to such term in Section 2.2(e).

     “Register” has the meaning given to such term in Section 11.6(c).

     “Regulations D, T, U and X” means Regulations D, T, U and X, respectively, of the
Federal Reserve Board, and any successor regulations.

     “Reimbursement Obligation” has the meaning given to such term in Section 3.4.

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

     “Reportable Event” means, with respect to any Plan, (i) any “reportable event” within
the meaning of Section 4043(c) of ERISA for which the 30-day notice under Section 4043(a) of ERISA
has not been waived by the PBGC (including, without limitation, any failure to meet the minimum
funding standard of, or timely make any required installment under, Section 412 of the Code or
Section 302 of ERISA, regardless of the issuance of any waivers in accordance with Section 412 of
the Code), (ii) any such “reportable event” subject to advance notice to the PBGC under Section
4043(b)(3) of ERISA, (iii) any application for a funding waiver or an extension of any amortization
period pursuant to Section 412 of the Code, and (iv) a cessation of operations described in Section
4062(e) of ERISA.

     “Required Lenders” means, at any time, the Lenders holding outstanding Credit Exposure
(excluding Swingline Loans) and unutilized Commitments (or, after the termination of the
Commitments, outstanding Credit Exposure (excluding Swingline Loans)) representing more than 50% of
the aggregate, at such time, of all outstanding Credit Exposure (excluding Swingline Loans) and
Unutilized Commitments (or, after the termination of the Commitments, the aggregate at such time of
all outstanding Credit Exposure (excluding Swingline Loans)), provided that the Commitment
of, and the portion of the outstanding Credit Exposure held or deemed held by, any Defaulting
Lender shall be excluded for purposes of making a determination of Required Lenders.

     “Requirement of Law” means, with respect to any Person, the charter, articles or
certificate of organization or incorporation and bylaws or other organizational or governing
documents of such Person, and any statute, law, treaty, rule, regulation, order, decree, writ,
injunction or determination of any arbitrator or court or other Governmental Authority, in each
case applicable to or binding upon such

19

 

Person or any of its property or to which such Person or any of its property is subject or
otherwise pertaining to any or all of the transactions contemplated by this Agreement and the other
Credit Documents.

     “Reserve Requirement” means, with respect to any Interest Period, the reserve
percentage (expressed as a decimal and rounded upwards, if necessary, to the next higher
1/100th of 1%) in effect from time to time during such Interest Period, as provided by
the Federal Reserve Board, applied for determining the maximum reserve requirements (including,
without limitation, basic, supplemental, marginal and emergency reserves) applicable to Wells Fargo
under Regulation D with respect to “Eurocurrency liabilities” within the meaning of Regulation D,
or under any similar or successor regulation with respect to Eurocurrency liabilities or
Eurocurrency funding.

     “Responsible Officer” means, with respect to any Credit Party, the president, the
chief executive officer, the chief financial officer, general counsel, or any other Financial
Officer of the Borrower, and any other executive officer or similar official of the Borrower
thereof responsible directly or indirectly for the administration of the obligations of such Credit
Party in respect of this Agreement or any other Credit Document.

     “Revolving Loans” has the meaning given such term in Section 2.1(a).

     “Revolving Note” means, with respect to any Lender requesting the same, the promissory
note of the Borrower in favor of such Lender evidencing the Revolving Loans made by such Lender
pursuant to Section 2.1(a), in substantially the form of Exhibit A-3, together with any amendments,
modifications and supplements thereto, substitutions therefor and restatements thereof.

     “Sanctioned Country” means a country subject to a sanctions program identified on the
list maintained by OFAC and available at
http://www.treas.gov/offices/enforcement/ofac/programs/, or as otherwise published from
time to time.

     “Sanctioned Person” means (i) a Person named on the list of Specially Designated
Nationals or Blocked Persons maintained by OFAC available at
http://www.treas.gov/offices/enforcement/ofac/sdn/index.shtml, or as otherwise published from time to time, or (ii) (A) an agency of the
government of a Sanctioned Country, (B) an organization controlled by a Sanctioned Country, or
(C) a Person resident in a Sanctioned Country, to the extent subject to a sanctions program
administered by OFAC.

     “Security Agreement” means the Pledge and Security Agreement made by the Borrower and
the Subsidiaries of the Borrower party thereto in favor of the Administrative Agent, in
substantially the form of Exhibit E, as amended, modified, restated or supplemented from time to
time.

     “Security Documents” means the Security Agreement, and all other pledge or security
agreements, Mortgages, assignments or other similar agreements or instruments executed and
delivered by any Credit Party pursuant to Section 6.7 or otherwise in connection with the
transactions contemplated hereby, in each case as amended, modified, restated or supplemented from
time to time.

     “Senior Net Leverage Ratio” means, as of any date, the ratio of (i) Consolidated
Funded Senior Debt as of such date, net of cash and Cash Equivalents in excess of $10,000,000 held
by the Borrower and the Subsidiary Guarantors as of such date, to (ii) Consolidated EBITDA for the
fiscal quarter most recently ended for which financial statements are required to have been
delivered under Section 6.1(a) or 6.1(b) (including financial statements delivered
contemporaneously with a calculation of the Senior Net Leverage Ratio), taking into account any
adjustments to Consolidated EBITDA permitted hereunder as a result of any Permitted Acquisition
consummated since the last day of such fiscal quarter, provided that

20

 

for purposes of the calculation of the Senior Net Leverage Ratio, the Indebtedness set forth on
Schedule 1.1(b) (up to a maximum amount of $16,000,000) shall not be considered Consolidated Funded
Senior Debt.

     “Senior Leverage Ratio” means, as of any date, the ratio of (i) Consolidated Funded
Senior Debt as of such date, to (ii) Consolidated EBITDA for the fiscal quarter most recently ended
for which financial statements are required to have been delivered under Section 6.1(a) or 6.1(b)
(including financial statements delivered contemporaneously with a calculation of the Senior
Leverage Ratio), taking into account any adjustments to Consolidated EBITDA permitted hereunder as
a result of any Permitted Acquisition consummated since the last day of such fiscal quarter,
provided that for purposes of the calculation of the Senior Leverage Ratio, the
Indebtedness set forth on Schedule 1.1(b) (up to a maximum amount of $16,000,000) shall not be
considered Consolidated Funded Senior Debt.

     “Solvent” shall mean as to any Person on any particular date, that such Person
(i) does not have unreasonably small capital to carry on its business as now conducted and as
presently proposed to be conducted, (ii) is able to pay its debts as they become due in the
ordinary course of business, and (iii) has assets with a present fair saleable value greater than
its total stated liabilities and identified contingent liabilities, including any amounts necessary
to satisfy preferential rights of shareholders.

     “Specified Availability Increase” has the meaning given to such term in the defined
term “Maximum Availability”.

     “Stated Amount” means, with respect to any Letter of Credit at any time, the aggregate
amount available to be drawn thereunder at such time (regardless of whether any conditions for
drawing could then be met).

     “Subordinated Indebtedness” means any Indebtedness of the Borrower and its
Subsidiaries that is expressly subordinated in right of payment and performance to the Obligations.

     “Subsidiary” means, with respect to any Person, any corporation or other Person of
which more than 50% of the outstanding Capital Stock having ordinary voting power to elect a
majority of the board of directors, board of managers or other governing body of such Person, is at
the time, directly or indirectly, owned or controlled by such Person and one or more of its other
Subsidiaries or a combination thereof (irrespective of whether, at the time, securities of any
other class or classes of any such corporation or other Person shall or might have voting power by
reason of the happening of any contingency). When used without reference to a parent entity, the
term “Subsidiary” shall be deemed to refer to a Subsidiary of the Borrower.

     “Subsidiary Guarantor” means any Guarantor that is a Subsidiary of the Borrower.

     “Swingline Commitment” means $5,000,000 or, if less, the aggregate Commitments at the
time of determination, as such amount may be reduced at or prior to such time pursuant to the terms
hereof.

     “Swingline Exposure” means, with respect to any Lender at any time, its maximum
aggregate liability to make Refunded Swingline Loans pursuant to Section 2.2(e) to refund, or to
purchase participations pursuant to Section 2.2(f) in, Swingline Loans that are outstanding at such
time.

     “Swingline Lender” means Wells Fargo in its capacity as maker of Swingline Loans, and
its successors in such capacity.

     “Swingline Loans” has the meaning given to such term in Section 2.1(b).

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     “Swingline Maturity Date” means the fifth Business Day prior to the Maturity Date.

     “Swingline Note” means, if requested by the Swingline Lender, the promissory note of
the Borrower in favor of the Swingline Lender evidencing the Swingline Loans made by the Swingline
Lender pursuant to Section 2.1(b), in substantially the form of Exhibit A-2, together with any
amendments, modifications and supplements thereto, substitutions therefor and restatements thereof.

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

     “Termination Date” means the Maturity Date or such earlier date of termination of the
Commitments pursuant to Section 2.5 or Section 9.2.

     “Total Net Leverage Ratio” means, as of any date, the ratio of (i) Consolidated Total
Funded Debt as of such date net of cash and Cash Equivalents in excess of $10,000,000 held by the
Borrower and the Subsidiary Guarantors as of such date, to (ii) Consolidated EBITDA for the fiscal
quarter most recently ended for which financial statements are required to have been delivered
under Section 6.1(a) or 6.1(b), taking into account any adjustments to Consolidated EBITDA
permitted hereunder as a result of any Permitted Acquisition consummated since the last day of such
fiscal quarter.

     “Total Leverage Ratio” means, as of any date, the ratio of (i) Consolidated Total
Funded Debt as of such date, to (ii) Consolidated EBITDA for the fiscal quarter most recently ended
for which financial statements are required to have been delivered under Section 6.1(a) or 6.1(b),
taking into account any adjustments to Consolidated EBITDA permitted hereunder as a result of any
Permitted Acquisition consummated since the last day of such fiscal quarter.

     “Total Voting Power” means, with respect to any Person, the total number of votes
which may be cast in the election of directors of such Person at any meeting of stockholders of
such Person if all securities entitled to vote in the election of directors of such Person (on a
fully diluted basis, assuming the exercise, conversion or exchange of all rights, warrants, options
and securities exercisable for, exchangeable for or convertible into, such voting securities) were
present and voted at such meeting (other than votes that may be cast only upon the happening of a
contingency).

     “Type” has the meaning given to such term in Section 2.2(a).

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

     “Unencumbered Liquidity” means, at any time, the sum of (i) all unencumbered (except
for encumbrances and Liens in favor of the Lenders pursuant to the Credit Documents) cash and Cash
Equivalents of the Borrower at such time, plus (ii) the amount that the Maximum
Availability exceeds the Aggregate Credit Exposure at such time.

     “Unutilized Commitment” means, with respect to any Lender at any time, such Lender’s
Commitment at such time less the sum of: (i) aggregate principal amount of all Revolving
Loans made by such Lender that are outstanding at such time, (ii) such Lender’s Letter of Credit
Exposure at such time and (iii) such Lender’s Swingline Exposure at such time; provided
that for purposes of calculation of the fee in Section 2.9(b) at all times prior to the occurrence
of one of the events in clause (y) or clause (z) of the definition of “Maximum Availability”,
“Unutilized Commitment” shall mean $75,000,000 less the

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sum of: (i) aggregate principal amount of all Revolving Loans made by such Lender that are
outstanding at such time, (ii) such Lender’s Letter of Credit Exposure at such time and (iii) such
Lender’s Swingline Exposure at such time.

     “Unutilized Swingline Commitment” means, with respect to the Swingline Lender at any
time, the Swingline Commitment at such time less the aggregate principal amount of all
Swingline Loans that are outstanding at such time.

     “Wells Fargo” means Wells Fargo Bank, National Association, and its successors and
assigns.

     “Wholly Owned” means, with respect to any Subsidiary of any Person, that 100% of the
outstanding Capital Stock of such Subsidiary (excluding any directors’ qualifying shares and shares
required to be held by foreign nationals, in the case of a Foreign Subsidiary) is owned, directly
or indirectly, by such Person.

     1.2 Accounting Terms. Unless otherwise specified herein, all accounting terms
used herein shall be interpreted, all accounting determinations hereunder shall be made, and all
financial statements required to be delivered hereunder shall be prepared in accordance with, GAAP
applied on a basis consistent with the most recent audited consolidated financial statements of the
Borrower delivered to the Lenders prior to the Closing Date; provided that if the Borrower
notifies the Administrative Agent that it wishes to amend any financial covenant in Article VII to
eliminate the effect of any change in GAAP on the operation of such covenant (or if the
Administrative Agent notifies the Borrower that the Required Lenders wish to amend Article VII for
such purpose), then the Borrower’s compliance with such covenant shall be determined on the basis
of GAAP as in effect immediately before the relevant change in GAAP became effective, until either
such notice is withdrawn or such covenant is amended in a manner satisfactory to the Borrower and
the Required Lenders.

     1.3 Other Terms; Construction.

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

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     (b) All references herein to the Lenders or any of them shall be deemed to include the
Issuing Lender and the Swingline Lender unless specifically provided otherwise or unless the
context otherwise requires.

     (c) Notwithstanding the foregoing, calculations to determine compliance by the Borrower
for any period with the financial covenants contained in Article VII to determine whether a
condition to a Permitted Acquisition, Permitted Asset Disposition, permitted incurrence of
Indebtedness or other transaction has been met, shall be determined in each case on a pro forma
basis (a “Pro Forma Basis”) after giving effect to any Acquisition, Asset Disposition,
incurrence of Indebtedness or other transaction (each, a “transaction”) occurring during
such Reference Period (or proposed to be consummated, as the case may be, whether or not during
such Reference Period) as if such transaction had occurred as of the first day of such Reference
Period, in accordance with the following:

     (i) any Indebtedness incurred or assumed by any Credit Party in connection with any
transaction (including any Indebtedness of a Person acquired in a Permitted Acquisition that
is not retired or repaid in connection therewith) shall be deemed to have been incurred or
assumed as of the first day of the applicable Reference Period (and if such Indebtedness has
a floating or formula rate, such Indebtedness shall, for purposes of such determination,
have an implied rate of interest during the applicable Reference Period determined by
utilizing the rate of interest that is or would be in effect with respect to such
Indebtedness as of the date of determination);

     (ii) any Indebtedness retired or repaid in connection with any transaction
(including any Indebtedness of a Person acquired in a Permitted Acquisition) shall be deemed
to have been retired or repaid as of the first day of the applicable Reference Period;

     (iii) with respect to any Permitted Acquisition, (A) income statement items
(whether positive or negative) and balance sheet items attributable to the Person or assets
acquired shall (to the extent not otherwise included in the consolidated financial
statements of the Borrower and its Subsidiaries in accordance with GAAP or in accordance
with other provisions of this Agreement) be included in such calculations to the extent
relating to the applicable Reference Period, provided that such income statement and
balance sheet items are reflected in financial statements or other financial data reasonably
acceptable to the Administrative Agent, and (B) operating expense reductions, cost savings
and other pro forma adjustments attributable to such Permitted Acquisition may be included
to the extent that such adjustments (y) would be permitted pursuant to Article XI of
Regulation S-X under the Securities Act (irrespective of whether the Borrower is subject
thereto) or (z) have been approved in writing by the Administrative Agent; and

     (iv) with respect to any Permitted Asset Disposition, income statement items
(whether positive or negative) and balance sheet items attributable to the assets disposed
of shall be excluded from such calculations to the extent relating to the applicable
Reference Period.

ARTICLE II

AMOUNT AND TERMS OF THE LOANS

     2.1 Commitments.

     (a) Each Lender severally agrees, subject to and on the terms and conditions of this
Agreement, to make loans (each, a “Revolving Loan,” and collectively, the “Revolving
Loans”) to the Borrower, from time to time on any Business Day during the period from and
including the Closing Date to but not including the Termination Date, in an aggregate principal
amount at any time outstanding not

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exceeding its Commitment, provided that no Borrowing of Loans shall be made if, immediately
after giving effect thereto (and to any concurrent repayment of Swingline Loans with proceeds of
Revolving Loans made pursuant to such Borrowing), (y) the Credit Exposure of any Lender would
exceed its Commitment at such time or (z) the Aggregate Credit Exposure would exceed the aggregate
Commitments or the Maximum Availability at such time. Subject to and on the terms and conditions
of this Agreement, the Borrower may borrow, repay and reborrow Loans.

     (b) The Swingline Lender agrees, subject to and on the terms and conditions of this
Agreement, to make loans (each, a “Swingline Loan,” and collectively, the “Swingline
Loans”) to the Borrower, from time to time on any Business Day during the period from the
Closing Date to but not including the Swingline Maturity Date (or, if earlier, the Termination
Date), in an aggregate principal amount at any time outstanding not exceeding the Swingline
Commitment. Swingline Loans may be made even if the aggregate principal amount of Swingline Loans
outstanding at any time, when added to the aggregate principal amount of the Revolving Loans made
by the Swingline Lender in its capacity as a Lender outstanding at such time and its Letter of
Credit Exposure at such time, would exceed the Swingline Lender’s own Commitment at such time, but
provided that no Borrowing of Swingline Loans shall be made if, immediately after giving
effect thereto, (y) the Credit Exposure of any Lender would exceed its Commitment at such time or
(z) the Aggregate Credit Exposure would exceed the aggregate Commitments or the Maximum
Availability at such time, and provided further that the Swingline Lender shall not
be required to make any Swingline Loan if any Lender is at that time a Defaulting Lender, unless
the Swingline Lender has entered into arrangements, including the delivery of Cash Collateral,
satisfactory to the Swingline Lender (in its sole discretion) with the Borrower or such Lender to
eliminate the Swingline Lender’s actual or potential Fronting Exposure (after giving effect to
Section 2.20(a)(iii)) with respect to the Defaulting Lender arising from either the Swingline Loan
then proposed to be made or that the Swingline Loan and all other Swingline Loans as to which the
Swingline Lender has actual or potential Fronting Exposure, as it may elect in its sole discretion.
Subject to and on the terms and conditions of this Agreement, the Borrower may borrow, repay
(including by means of a Borrowing of Revolving Loans pursuant to Section 2.2(e)) and reborrow
Swingline Loans. All Swingline Loans shall bear interest at the Adjusted LIBOR Market Index Rate.

     2.2 Borrowings.

     (a) The Revolving Loans (each, together with the Swingline Loans, a “Class” of
Loan) shall, at the option of the Borrower and subject to the terms and conditions of this
Agreement, be either Base Rate Loans or LIBOR Loans (each, a “Type” of Loan),
provided that all Revolving Loans comprising the same Borrowing shall, unless otherwise
specifically provided herein, be of the same Type. The Swingline Loans shall be made and
maintained as LIBOR Market Index Rate Loans at all times.

     (b) In order to make a Borrowing (other than (w) Borrowings of Swingline Loans, which
shall be made pursuant to Section 2.2(d), (x) Borrowings for the purpose of repaying Refunded
Swingline Loans, which shall be made pursuant to Section 2.2(e), (y) Borrowings involving
continuations or conversions of outstanding Loans, which shall be made pursuant to Section 2.11 or
(z) Borrowings for the purpose of paying unpaid Reimbursement Obligations, which shall be made
pursuant to Section 3.5), the Borrower will give the Administrative Agent written notice not later
than 11:00 a.m., Charlotte time, three Business Days prior to each Borrowing to be comprised of
LIBOR Loans and one Business Day prior to each Borrowing to be comprised of Base Rate Loans;
provided, however, that requests for the Borrowing of Revolving Loans to be made on
the Closing Date may, at the discretion of the Administrative Agent, be given with less advance
notice than as specified hereinabove. Each such notice (each, a “Notice of Borrowing”)
shall be irrevocable, shall be given in the form of Exhibit B-1 and shall specify (1) the aggregate
principal amount, Class and initial Type of the Loans to be made pursuant to such Borrowing, (2) in
the case of a Borrowing of LIBOR Loans, the initial Interest Period to be

25

 

applicable thereto, and (3) the requested Borrowing Date, which shall be a Business Day. Upon its
receipt of a Notice of Borrowing, the Administrative Agent will promptly notify each applicable
Lender of the proposed Borrowing. Notwithstanding anything to the contrary contained herein:

     (i) the aggregate principal amount of each Borrowing comprised of Base Rate Loans
shall not be less than $1,000,000 or, if greater, an integral multiple of $100,000 in excess
thereof (or, if less, in the amount of the aggregate Commitments less the Aggregate Credit
Exposure), and the aggregate principal amount of each Borrowing comprised of LIBOR Loans
shall not be less than $2,000,000 or, if greater, an integral multiple of $1,000,000 in
excess thereof;

     (ii) if the Borrower shall have failed to designate the Type of Loans comprising a
Borrowing, the Borrower shall be deemed to have requested a Borrowing comprised of Base Rate
Loans; and

     (iii) if the Borrower shall have failed to select the duration of the Interest
Period to be applicable to any Borrowing of LIBOR Loans, then the Borrower shall be deemed
to have selected an Interest Period with a duration of one month.

     (c) Not later than 1:00 p.m., Charlotte time, on the requested Borrowing Date, each
applicable Lender will make available to the Administrative Agent at the Payment Office an amount,
in Dollars and in immediately available funds, equal to the amount of the Loan or Loans to be made
by such Lender. To the extent such Lenders have made such amounts available to the Administrative
Agent as provided hereinabove, the Administrative Agent will make the aggregate of such amounts
available to the Borrower in accordance with Section 2.3(a) and in like funds as received by the
Administrative Agent.

     (d) In order to make a Borrowing of a Swingline Loan, the Borrower will give the
Administrative Agent (and the Swingline Lender, if the Swingline Lender is not also the
Administrative Agent) written notice not later than 11:00 a.m., Charlotte time, on the date of such
Borrowing. Each such notice (each, a “Notice of Swingline Borrowing”) shall be given in
the form of Exhibit B-2, shall be irrevocable and shall specify (i) the principal amount of the
Swingline Loan to be made pursuant to such Borrowing (which shall not be less than $500,000 and, if
greater, shall be in an integral multiple of $100,000 in excess thereof (or, if less, in the amount
of the Unutilized Swingline Commitment)) and (ii) the requested Borrowing Date, which shall be a
Business Day. Not later than 1:00 p.m., Charlotte time, on the requested Borrowing Date, the
Swingline Lender will make available to the Administrative Agent at the Payment Office an amount,
in Dollars and in immediately available funds, equal to the amount of the requested Swingline Loan.
To the extent the Swingline Lender has made such amount available to the Administrative Agent as
provided hereinabove, the Administrative Agent will make such amount available to the Borrower in
accordance with Section 2.3(a) and in like funds as received by the Administrative Agent.

     (e) With respect to any outstanding Swingline Loans, the Swingline Lender may at any time
(whether or not an Event of Default has occurred and is continuing) in its sole and absolute
discretion, and is hereby authorized and empowered by the Borrower to, cause a Borrowing of
Revolving Loans to be made for the purpose of repaying such Swingline Loans by delivering to the
Administrative Agent (if the Administrative Agent is not also the Swingline Lender) and each other
Lender (on behalf of, and with a copy to, the Borrower), not later than 11:00 a.m., Charlotte time,
one Business Day prior to the proposed Borrowing Date therefor, a notice (which shall be deemed to
be a Notice of Borrowing given by the Borrower) requesting the Lenders to make Revolving Loans
(which shall be made initially as Base Rate Loans) on such Borrowing Date in an aggregate amount
equal to the amount of such Swingline Loans (the “Refunded Swingline Loans”) outstanding on
the date such notice is given that the Swingline Lender requests to be repaid. Not later than 1:00
p.m., Charlotte time, on the requested Borrowing Date,

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each Lender (other than the Swingline Lender) will make available to the Administrative Agent at
the Payment Office an amount, in Dollars and in immediately available funds, equal to the amount of
the Revolving Loan to be made by such Lender. To the extent the Lenders have made such amounts
available to the Administrative Agent as provided hereinabove, the Administrative Agent will make
the aggregate of such amounts available to the Swingline Lender in like funds as received by the
Administrative Agent, which shall apply such amounts in repayment of the Refunded Swingline Loans.
Notwithstanding any provision of this Agreement to the contrary, on the relevant Borrowing Date,
the Refunded Swingline Loans (including the Swingline Lender’s ratable share thereof, in its
capacity as a Lender) shall be deemed to be repaid with the proceeds of the Revolving Loans made as
provided above (including a Revolving Loan deemed to have been made by the Swingline Lender), and
such Refunded Swingline Loans deemed to be so repaid shall no longer be outstanding as Swingline
Loans but shall be outstanding as Revolving Loans. If any portion of any such amount repaid (or
deemed to be repaid) to the Swingline Lender shall be recovered by or on behalf of the Borrower
from the Swingline Lender in any bankruptcy, insolvency or similar proceeding or otherwise, the
loss of the amount so recovered shall be shared ratably among all the Lenders in the manner
contemplated by Section 2.15(b).

     (f) If, as a result of any bankruptcy, insolvency or similar proceeding with respect to
the Borrower, Revolving Loans are not made pursuant to Section 2.2(e) in an amount sufficient to
repay any amounts owed to the Swingline Lender in respect of any outstanding Swingline Loans, or if
the Swingline Lender is otherwise precluded for any reason from giving a notice on behalf of the
Borrower as provided for hereinabove, the Swingline Lender shall be deemed to have sold without
recourse, representation or warranty (except for the absence of Liens thereon created, incurred or
suffered to exist by, through or under the Swingline Lender), and each Lender shall be deemed to
have purchased and hereby agrees to purchase, a participation in such outstanding Swingline Loans
in an amount equal to its ratable share (based on the proportion that its Commitment bears to the
aggregate Commitments at such time) of the unpaid amount thereof together with accrued interest
thereon. Upon one Business Day’s prior notice from the Swingline Lender, each Lender (other than
the Swingline Lender) will make available to the Administrative Agent at the Payment Office an
amount, in Dollars and in immediately available funds, equal to its respective participation. To
the extent the Lenders have made such amounts available to the Administrative Agent as provided
hereinabove, the Administrative Agent will make the aggregate of such amounts available to the
Swingline Lender in like funds as received by the Administrative Agent. In the event any such
Lender fails to make available to the Administrative Agent the amount of such Lender’s
participation as provided in this Section 2.2(f), the Swingline Lender shall be entitled to recover
such amount on demand from such Lender, together with interest thereon for each day from the date
such amount is required to be made available for the account of the Swingline Lender until the date
such amount is made available to the Swingline Lender at the Federal Funds Rate for the first three
Business Days and thereafter at the Adjusted Base Rate applicable to Revolving Loans. Promptly
following its receipt of any payment by or on behalf of the Borrower in respect of a Swingline
Loan, the Swingline Lender will pay to each Lender that has acquired a participation therein such
Lender’s ratable share of such payment.

     (g) Notwithstanding any provision of this Agreement to the contrary, the obligation of
each Lender (other than the Swingline Lender) to make Revolving Loans for the purpose of repaying
any Refunded Swingline Loans pursuant to Section 2.2(e) and each such Lender’s obligation to
purchase a participation in any unpaid Swingline Loans pursuant to Section 2.2(f) shall be absolute
and unconditional and shall not be affected by any circumstance or event whatsoever, including,
without limitation, (i) any set-off, counterclaim, recoupment, defense or other right that such
Lender may have against the Swingline Lender, the Administrative Agent, the Borrower or any other
Person for any reason whatsoever, (ii) the occurrence or continuance of any Default or Event of
Default, (iii) the failure of the amount of such Borrowing of Revolving Loans to meet the minimum
Borrowing amount specified in

27

 

Section 2.2(b), or (iv) the failure of any conditions set forth in Section 4.2 or elsewhere herein
to be satisfied.

     2.3 Disbursements; Funding Reliance; Domicile of Loans.

     (a) The Borrower hereby authorizes the Administrative Agent to disburse the proceeds of
each Borrowing in accordance with the terms of any written instructions from any Authorized Officer
of the Borrower, provided that the Administrative Agent shall not be obligated under any
circumstances to forward amounts to any account not listed in an Account Designation Letter. The
Borrower may at any time deliver to the Administrative Agent an Account Designation Letter listing
any additional accounts or deleting any accounts listed in a previous Account Designation Letter.

     (b) Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing that such Lender will not make available to the Administrative Agent
such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has
made such share available on such date in accordance with Section 2.2 or Section 3.5 and may, in
reliance upon such assumption, make available to the Borrower a corresponding amount. In such
event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each
day from and including the date such amount is made available to the Borrower to but excluding the
date of payment to the Administrative Agent, at (i) in the case of a payment to be made by such
Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation and (ii) in the case of a payment
to be made by the Borrower, the Adjusted Base Rate. If the Borrower and such Lender shall pay such
interest to the Administrative Agent for the same or an overlapping period, the Administrative
Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for
such period. If such Lender pays its share of the applicable Borrowing to the Administrative
Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any
payment by the Borrower shall be without prejudice to any claim the Borrower may have against a
Lender that shall have failed to make such payment to the Administrative Agent.

     (c) The obligations of the Lenders hereunder to make Loans, to fund participations in
Letters of Credit and Swingline Loans and to make payments pursuant to Section 11.1(c) are several
and not joint. The failure of any Lender to make any Loan, to fund any such participation or to
make any such payment on any date shall not relieve any other Lender of its corresponding
obligation, if any, hereunder to do so on such date, but no Lender shall be responsible for the
failure of any other Lender to so make its Loan, fund its participation or to make any such payment
required hereunder.

     (d) Subject to Section 2.9(b), each Lender may, at its option, make and maintain any Loan
at, to or for the account of any of its Lending Offices, provided that any exercise of such
option shall not affect the obligation of the Borrower to repay such Loan to or for the account of
such Lender in accordance with the terms of this Agreement.

     2.4 Evidence of Debt; Notes.

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

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     (b) The Administrative Agent shall maintain the Register pursuant to Section 11.6(c), and
a subaccount for each Lender, in which Register and subaccounts (taken together) shall be recorded
(i) the amount of each such Loan, the Class and Type of each such Loan and the Interest Period
applicable thereto, (ii) the amount of any principal or interest due and payable or to become due
and payable from the Borrower to each Lender hereunder in respect of each such Loan and (iii) the
amount of any sum received by the Administrative Agent hereunder from the Borrower in respect of
each such Loan and each Lender’s share thereof.

     (c) The entries made in the accounts, Register and subaccounts maintained pursuant to
Section 2.4(b) (and, if consistent with the entries of the Administrative Agent, Section 2.4(a))
shall, to the extent permitted by applicable law, be prima facie evidence of the existence and
amounts of the obligations of the Borrower therein recorded; provided, however,
that the failure of any Lender or the Administrative Agent to maintain such account, such Register
or such subaccount, as applicable, or any error therein, shall not in any manner affect the
obligation of the Borrower to repay (with applicable interest) the Loans made to the Borrower by
such Lender in accordance with the terms of this Agreement.

     (d) The Loans of each Class made by each Lender shall, if requested by the applicable
Lender (which request shall be made to the Administrative Agent), be evidenced (i) in the case of
Revolving Loans, by a Revolving Note appropriately completed in substantially the form of
Exhibit A-1 and (ii) in the case of Swingline Loans, by a Swingline Note appropriately completed in
substantially the form of Exhibit A-2, in each case executed by the Borrower and payable to the
order of such Lender. Each Note shall be entitled to all of the benefits of this Agreement and the
other Credit Documents and shall be subject to the provisions hereof and thereof. At the
Borrower’s option, the Borrower may execute and deliver any Note in the State of North Carolina.

     2.5 Termination and Reduction of Commitments and Swingline Commitment.

     (a) The Commitments shall be automatically and permanently terminated on the Termination
Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2.
The Swingline Commitment shall be automatically and permanently terminated on the Swingline
Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or
Section 9.2.

     (b) At any time and from time to time after the date hereof, upon not less than five
Business Days’ prior written notice to the Administrative Agent (and in the case of a termination
or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may
terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized
Swingline Commitment, provided that any such partial reduction shall be in an aggregate
amount of not less than $2,000,000 ($500,000 in the case of the Unutilized Swingline Commitment)
or, if greater, an integral multiple of $1,000,000 in excess thereof ($100,000 in the case of the
Unutilized Swingline Commitment). The amount of any termination or reduction made under this
Section 2.5(a) may not thereafter be reinstated.

     (c) Each reduction of the Commitments pursuant to this section shall be applied ratably
among the Lenders according to their respective Commitments. Notwithstanding any provision of this
Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has
the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline
Commitment or the Letter of Credit Subcommitment at such time shall result in an automatic
corresponding reduction of the Swingline Commitment or the Letter of Credit Subcommitment, to the
amount of the aggregate Commitments (as so reduced), without any further action on the part of the
Borrower, the Swingline Lender or any other Lender.

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     2.6 Mandatory Payments and Prepayments.

     (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement,
(i) the aggregate outstanding principal of the Revolving Loans shall be due and payable in full on
the Maturity Date and (ii) the aggregate outstanding principal of the Swingline Loans shall be due
and payable in full on the Swingline Maturity Date.

     (b) In the event that, at any time, the Aggregate Credit Exposure (excluding the aggregate
amount of any Swingline Loans to be repaid with proceeds of Revolving Loans made on the date of
determination) shall exceed the aggregate Commitments (after giving effect to any concurrent
termination or reduction thereof) or the Maximum Availability at such time, the Borrower will
immediately prepay the outstanding principal amount of the Swingline Loans and, to the extent of
any excess remaining after prepayment in full of outstanding Swingline Loans, the outstanding
principal amount of the Revolving Loans, in the amount of such excess, provided that, to
the extent such excess amount is greater than the aggregate principal amount of Swingline Loans and
Revolving Loans outstanding immediately prior to the application of such prepayment, the amount so
prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as
cover for Letter of Credit Exposure, as more particularly described in Section 3.8, and thereupon
such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent
amount.

     (c) Not later than 180 days after receipt by any Credit Party of any proceeds of
insurance, condemnation award or other compensation in respect of any Casualty Event (or, if
earlier, upon its determination not to repair or replace any property subject to such Casualty
Event or to acquire assets used or useable in the business of the Borrower and its Subsidiaries),
other than any Casualty Event with Net Cash Proceeds less than $1,000,000, the Borrower will prepay
the outstanding principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds
from such Casualty Event (less any amounts theretofore applied (or contractually committed to be
applied) to the repair or replacement of property subject to such Casualty Event or to acquire
assets used or useable in the business of the Borrower and its Subsidiaries) and will deliver to
the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial
Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting
forth the calculation of such Net Cash Proceeds; provided, however, that,
notwithstanding the foregoing, (i) except as otherwise provided in this Agreement (including in
clause (ii) below) or in any other Credit Document, the Administrative Agent shall turn over to the
Borrower any such proceeds received during such 180-day period (unless the Borrower has, prior to
the Administrative Agent’s receipt of such proceeds, notified the Administrative Agent of its
determination not to repair or replace the property subject to the applicable Casualty Event or to
acquire assets used or useable in the business of the Borrower and its Subsidiaries), but nothing
in this Section 2.6(c) shall be deemed to limit or otherwise affect any right of the Administrative
Agent herein or in any of the other Credit Documents to receive and hold such proceeds as loss
payee and to disburse the same to the Borrower upon the terms hereof or thereof, or any obligation
of the Borrower or any of its Subsidiaries herein or in any of the other Credit Documents to remit
any such proceeds to the Administrative Agent upon its receipt thereof, and (ii) any and all such
proceeds received or held by the Administrative Agent or the Borrower or any of its Subsidiaries
during the continuance of an Event of Default (regardless of any proposed or actual use thereof for
repair, replacement or reinvestment) may, at the option of the Administrative Agent (or as
otherwise directed by the Required Lenders) be applied to prepay the outstanding principal amount
of the Loans.

     (d) Not later than 180 days after receipt by any Credit Party of proceeds in respect of
any Asset Disposition other than an Excluded Asset Disposition (or, if earlier, upon its
determination not to apply such proceeds to the acquisition of assets used or useable in the
business of the Borrower and its Subsidiaries), the Borrower will prepay the outstanding principal
amount of the Loans in an amount equal

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to 100% of the Net Cash Proceeds from such Asset Disposition (less any amounts theretofore applied
(or contractually committed to be applied) to acquire assets used or useable in the business of the
Borrower and its Subsidiaries) and will deliver to the Administrative Agent, concurrently with such
prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance
satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash
Proceeds; provided, however, that any such Net Cash Proceeds not applied (or
contractually committed to be applied) within 180 days to the acquisition of other assets as
provided herein shall be applied by the Borrower as a prepayment of the outstanding principal
amount of the Loans no later than the first Business Day immediately following such 180-day period.
Notwithstanding the foregoing, nothing in this Section 2.6(d) shall be deemed to permit any Asset
Disposition not expressly permitted under Section 8.4.

     (e) Each prepayment of the Loans made pursuant to Sections 2.6(c) and Section 2.6(d) shall
be applied (i) first, to reduce the outstanding principal amount of the Swingline Loans (with a
corresponding permanent reduction of the Commitments), (ii) second, to reduce the outstanding
principal amount of the Revolving Loans (with a corresponding permanent reduction of the
Commitments) and (iii) third, to the extent of any excess remaining after application as provided
in clauses (i) above, to pay any outstanding Reimbursement Obligations and, to the extent of any
excess remaining, to cash collateralize Letter of Credit Exposure. Within each Class of Loans,
such prepayments shall be applied first to prepay all Base Rate Loans, and then to prepay LIBOR
Loans in direct order of Interest Period maturities. Each payment or prepayment pursuant to the
provisions of this Section 2.6 shall be applied ratably among the Lenders holding the Loans being
prepaid, in proportion to the principal amount held by each, provided that if any Lender is
a Defaulting Lender at the time of any such prepayment, any mandatory prepayment of the Loans
shall, if the Administrative Agent so directs at the time of making such mandatory prepayment, be
applied to the Loans of other Lenders as if such Defaulting Lender had no Loans outstanding and the
outstanding Loans of such Defaulting Lender were zero. Each payment or prepayment of a LIBOR Loan
made pursuant to the provisions of this Section on a day other than the last day of the Interest
Period applicable thereto shall be made together with all amounts required under Section 2.18 to be
paid as a consequence thereof.

     (f) In the event the Administrative Agent receives a notice of prepayment with respect to
Sections 2.6(c) through 2.6(d), the Administrative Agent will give prompt notice thereof to the
Lenders; provided that if such notice has also been furnished to the Lenders, the
Administrative Agent shall have no obligation to notify the Lenders with respect thereto.

     2.7 Voluntary Prepayments.

     (a) At any time and from time to time, the Borrower shall have the right to prepay the
Loans, in whole or in part, without premium or penalty (except as provided in clause (iii) below),
upon written notice given to the Administrative Agent not later than 11:00 a.m., Charlotte time,
three Business Days prior to each intended prepayment of LIBOR Loans and one Business Day prior to
each intended prepayment of Base Rate Loans (other than Swingline Loans, which may be prepaid on a
same-day basis), provided that (i) each partial prepayment of LIBOR Loans shall be in an
aggregate principal amount of not less than $2,000,000 or, if greater, an integral multiple of
$1,000,000 in excess thereof ($500,000 and $100,000, respectively, in the case of Swingline Loans),
and each partial prepayment of Base Rate Loans shall be in an aggregate principal amount of not
less than $1,000,000 or, if greater, an integral multiple of $100,000 in excess thereof, (ii) no
partial prepayment of LIBOR Loans made pursuant to any single Borrowing shall reduce the aggregate
outstanding principal amount of the remaining LIBOR Loans under such Borrowing to less than
$2,000,000 or to any greater amount not an integral multiple of $1,000,000 in excess thereof, and
(iii) unless made together with all amounts required under Section 2.18 to be paid as a consequence
of such prepayment, a prepayment of a LIBOR Loan may be made only on the last day of the Interest
Period applicable thereto. Each such notice shall specify the

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proposed date of such prepayment and the aggregate principal amount, Class and Type of the Loans to
be prepaid (and, in the case of LIBOR Loans, the Interest Period of the Borrowing pursuant to which
made), and shall be irrevocable and shall bind the Borrower to make such prepayment on the terms
specified therein. Revolving Loans and Swingline Loans prepaid pursuant to this Section 2.7(a) may
be reborrowed, subject to the terms and conditions of this Agreement. In the event the
Administrative Agent receives a notice of prepayment under this Section, the Administrative Agent
will give prompt notice thereof to the Lenders; provided that if such notice has also been
furnished to the Lenders, the Administrative Agent shall have no obligation to notify the Lenders
with respect thereto.

     (b) Each prepayment of the Loans made pursuant to Section 2.7(a) shall be applied ratably
among the Lenders holding the Loans being prepaid, in proportion to the principal amount held by
eachprovided that if any Lender is a Defaulting Lender at the time of any such prepayment,
any voluntary prepayment of the Loans shall, if the Administrative Agent so directs at the time of
making such voluntary prepayment, be applied to the Loans of other Lenders as if such Defaulting
Lender had no Loans outstanding and the outstanding Loans of such Defaulting Lender were zero.

     2.8 Interest.

     (a) The Borrower will pay interest in respect of the unpaid principal amount of each Loan,
from the date of Borrowing thereof until such principal amount shall be paid in full, (i) at the
Adjusted Base Rate, as in effect from time to time during such periods as such Loan is a Base Rate
Loan, (ii) at the Adjusted LIBOR Rate, as in effect from time to time during such periods as such
Loan is a LIBOR Loan, and (iii) at the Adjusted LIBOR Market Index Rate, as in effect from time to
time for all Swingline Loans.

     (b) At the election of the Administrative Agent (or as otherwise directed by the Lenders
and to be applied retroactively to the occurrence of the Event of Default, at the option thereof)
upon the occurrence and during the continuance of any Event of Default, all outstanding principal
amounts of the Loans and, to the greatest extent permitted by law, all interest accrued on the
Loans and all other accrued and outstanding fees and other amounts hereunder, shall bear interest
at a rate per annum equal to the interest rate applicable from time to time thereafter to such
Loans (whether the Adjusted Base Rate or the Adjusted LIBOR Rate) plus 2% (or, in the case of
interest, fees and other amounts for which no rate is provided hereunder, at the Adjusted Base Rate
applicable to Revolving Loans plus 2%), and, in each case, such default interest shall be payable
on demand. To the greatest extent permitted by law, interest shall continue to accrue after the
filing by or against the Borrower of any petition seeking any relief in bankruptcy or under any law
pertaining to insolvency or debtor relief.

     (c) Accrued (and theretofore unpaid) interest shall be payable as follows:

     (i) in respect of each Base Rate Loan (including any Base Rate Loan or portion
thereof paid or prepaid pursuant to the provisions of Section 2.6, except as provided
hereinbelow) and each LIBOR Market Index Loan, in arrears on the last day of each calendar
month, beginning with the first such day to occur after the Closing Date; provided,
that in the event the Loans are repaid or prepaid in full and the Commitments have been
terminated, then accrued interest in respect of all Base Rate Loans and LIBOR Market Index
Loans shall be payable together with such repayment or prepayment on the date thereof;

     (ii) in respect of each LIBOR Loan (including any LIBOR Loan or portion thereof
paid or prepaid pursuant to the provisions of Section 2.6, except as provided hereinbelow),
in arrears (y) on the last Business Day of the Interest Period applicable thereto (subject
to the provisions of Section 2.10(iv)) and (z) in addition, in the case of a LIBOR Loan with
an Interest

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Period having a duration of six months or longer, on each date on which interest would have
been payable under clause (y) above had successive Interest Periods of three months’
duration been applicable to such LIBOR Loan; provided, that in the event all LIBOR
Loans made pursuant to a single Borrowing are repaid or prepaid in full, then accrued
interest in respect of such LIBOR Loans shall be payable together with such repayment or
prepayment on the date thereof; and

     (iii) in respect of any Loan, at maturity (whether pursuant to acceleration or
otherwise) and, after maturity, on demand.

     (d) Nothing contained in this Agreement or in any other Credit Document shall be deemed to
establish or require the payment of interest to any Lender at a rate in excess of the maximum rate
permitted by applicable law. If the amount of interest payable for the account of any Lender on
any interest payment date would exceed the maximum amount permitted by applicable law to be charged
by such Lender, the amount of interest payable for its account on such interest payment date shall
be automatically reduced to such maximum permissible amount. In the event of any such reduction
affecting any Lender, if from time to time thereafter the amount of interest payable for the
account of such Lender on any interest payment date would be less than the maximum amount permitted
by applicable law to be charged by such Lender, then the amount of interest payable for its account
on such subsequent interest payment date shall be automatically increased to such maximum
permissible amount, provided that at no time shall the aggregate amount by which interest
paid for the account of any Lender has been increased pursuant to this sentence exceed the
aggregate amount by which interest paid for its account has theretofore been reduced pursuant to
the previous sentence.

     (e) The Administrative Agent shall promptly notify the Borrower and the Lenders upon
determining the interest rate for each Borrowing of LIBOR Loans after its receipt of the relevant
Notice of Borrowing or Notice of Conversion/Continuation, and upon each change in the Base Rate;
provided, however, that the failure of the Administrative Agent to provide the
Borrower or the Lenders with any such notice shall neither affect any obligations of the Borrower
or the Lenders hereunder nor result in any liability on the part of the Administrative Agent to the
Borrower or any Lender. Each such determination of an element of an interest rate (including each
determination of the Reserve Requirement) shall, absent manifest error, be conclusive and binding
on all parties hereto.

     (f) In the event that any financial statement or Compliance Certificate delivered pursuant
to Section 5.10, 6.1 or 6.2 is shown to be inaccurate (regardless of whether this Agreement or the
Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected,
would have led to the application of a higher Applicable Percentage for any period (an
“Applicable Period”) than the Applicable Percentage applied for such Applicable Period,
then the Borrower shall immediately (i) deliver to the Administrative Agent a correct Compliance
Certificate for such Applicable Period, (ii) determine the Applicable Percentage for such
Applicable Period based upon the corrected Compliance Certificate, and (iii) immediately pay to the
Administrative Agent the accrued additional interest owing as a result of such increased Applicable
Percentage for such Applicable Period, which payment shall be promptly applied by the
Administrative Agent in accordance with Section 2.12(e). This Section 2.8(f) is in addition to the
rights of the Administrative Agent and Lenders with respect to Sections 2.8(b) and 9.1, if
applicable, and other respective rights under this Agreement.

     2.9 Fees. The Borrower agrees to pay:

     (a) (i) On the Closing Date, to the Administrative Agent, for the account of Wells Fargo,
the initial Lender, an upfront fee equal to $140,000, and (ii) on the first anniversary of the
Closing Date, to the Administrative Agent, for the account of each Lender, an upfront fee equal to
0.15% of such Lender’s Commitment on such date.

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     (b) To the Administrative Agent, for the account of each Lender, a unutilized commitment
fee for each calendar quarter (or portion thereof) for the period from the date of this Agreement
to the Termination Date, at a per annum rate equal to (i) 0.375%, if the daily average balance of
the outstanding Aggregate Credit Exposure for the 12 months ending on the last day of such calendar
quarter is less than 40% of the aggregate Commitments, or (ii) 0.25%, if the daily average balance
of the outstanding Aggregate Credit Exposure for the 12 months ending on the last day of such
calendar quarter is greater than 40% of the aggregate Commitments, in each case payable on such
Lender’s ratable share (based on the proportion that its Commitment bears to the aggregate
Commitments) of the average daily aggregate Unutilized Commitments, payable in arrears (i) on the
last Business Day of each calendar quarter, beginning with the first such day to occur after the
Closing Date, and (ii) on the Termination Date; provided, however, that no
commitment fee shall accrue on the Unutilized Commitment of a Defaulting Lender during any period
that such Lender shall be a Defaulting Lender.

     (c) To the Administrative Agent, for the account of each Lender, a letter of credit fee
for each calendar quarter (or portion thereof) in respect of all Letters of Credit outstanding
during such quarter, at a per annum rate equal to the Applicable Percentage in effect from time to
time during such quarter for Revolving Loans that are maintained as LIBOR Loans, on such Lender’s
ratable share (based on the proportion that its Commitment bears to the aggregate Commitments) of
the daily average aggregate Stated Amount of such Letters of Credit, payable in arrears (i) on the
last Business Day of each calendar quarter, beginning with the first such day to occur after the
Closing Date, and (ii) on the later of the Termination Date and the date of termination of the last
outstanding Letter of Credit; provided, however, that any Letter of Credit Fees
otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to
which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Lender
pursuant to Section 3.1(a) shall be payable, to the maximum extent permitted by applicable Law, to
the other Lenders in accordance with the upward adjustments in their respective Applicable
Percentages allocable to such Letter of Credit pursuant to Section 2.20(a)(iii), with the balance
of such fee, if any, payable to the Issuing Lender for its own account;

     (d) If at any time there is more than one Lender, to the Issuing Lender, for its own
account, a facing fee for each calendar quarter (or portion thereof) in respect of all Letters of
Credit outstanding during such quarter, at a per annum rate of 0.125% on the daily average
aggregate Stated Amount of such Letters of Credit, payable in arrears (i) on the last Business Day
of each calendar quarter, beginning with the first such day to occur after the Closing Date, and
(ii) on the later of the Termination Date and the date of termination of the last outstanding
Letter of Credit;

     (e) To the Issuing Lender, for its own account, such commissions, transfer fees and other
fees and charges incurred in connection with the issuance and administration of each Letter of
Credit as are customarily charged from time to time by the Issuing Lender for the performance of
such services in connection with similar letters of credit, or as may be otherwise agreed to by the
Issuing Lender, but without duplication of amounts payable under Section 2.9(d); and

     (f) To the Administrative Agent, for its own account, an annual administrative fee equal
to $7,500, provided that if there is more than one Lender, such fee shall be increased to
$15,000 per year plus $5,000 for each Lender in excess of three Lenders, in any case, payable in
advance on the Closing Date, and each anniversary thereof (and upon the addition of a Lender, as
applicable, with such fee for the current year reduced pro rata based upon the remainder of the
such year).

     2.10 Interest Periods. Concurrently with the giving of a Notice of Borrowing or
Notice of Conversion/Continuation in respect of any Borrowing comprised of Base Rate Loans to be
converted into, or LIBOR Loans to be continued as, LIBOR Loans, the Borrower shall have the right
to elect, pursuant to such notice, the interest period (each, an “Interest Period”) to be
applicable to such LIBOR Loans, which

34

 

Interest Period shall, at the option of the Borrower, be a one, two, three or six-month period;
provided, however, that:

     (i) all LIBOR Loans comprising a single Borrowing shall at all times have the same
Interest Period;

     (ii) the initial Interest Period for any LIBOR Loan shall commence on the date of
the Borrowing of such LIBOR Loan (including the date of any continuation of, or conversion
into, such LIBOR Loan), and each successive Interest Period applicable to such LIBOR Loan
shall commence on the day on which the next preceding Interest Period applicable thereto
expires;

     (iii) LIBOR Loans may not be outstanding under more than six separate Interest
Periods at any one time (for which purpose Interest Periods shall be deemed to be separate
even if they are coterminous);

     (iv) if any Interest Period otherwise would expire on a day that is not a Business
Day, such Interest Period shall expire on the next succeeding Business Day unless such next
succeeding Business Day falls in another calendar month, in which case such Interest Period
shall expire on the immediately preceding Business Day;

     (v) the Borrower may not select any Interest Period that expires after the Maturity
Date;

     (vi) if any Interest Period begins on a day for which there is no numerically
corresponding day in the calendar month during which such Interest Period would otherwise
expire, such Interest Period shall expire on the last Business Day of such calendar month;
and

     (vii) the Borrower may not select any Interest Period (and consequently, no LIBOR
Loans shall be made) if a Default or Event of Default shall have occurred and be continuing
at the time of such Notice of Borrowing or Notice of Conversion/Continuation with respect to
any Borrowing.

     2.11 Conversions and Continuations.

     (a) The Borrower shall have the right, on any Business Day occurring on or after the
Closing Date, to elect (i) to convert all or a portion of the outstanding principal amount of any
Base Rate Loans of any Class into LIBOR Loans of the same Class, or to convert any LIBOR Loans of
any Class the Interest Periods for which end on the same day into Base Rate Loans of the same
Class, or (ii) upon the expiration of any Interest Period, to continue all or a portion of the
outstanding principal amount of any LIBOR Loans of any Class the Interest Periods for which end on
the same day for an additional Interest Period, provided that (w) any such conversion of
LIBOR Loans into Base Rate Loans shall involve an aggregate principal amount of not less than
$1,000,000 or, if greater, an integral multiple of $100,000 in excess thereof; any such conversion
of Base Rate Loans into, or continuation of, LIBOR Loans shall involve an aggregate principal
amount of not less than $2,000,000 or, if greater, an integral multiple of $1,000,000 in excess
thereof; and no partial conversion of LIBOR Loans made pursuant to a single Borrowing shall reduce
the outstanding principal amount of such LIBOR Loans to less than $2,000,000 or to any greater
amount not an integral multiple of $1,000,000 in excess thereof, (x) except as otherwise provided
in Section 2.16(f), LIBOR Loans may be converted into Base Rate Loans only on the last day of the
Interest Period applicable thereto (and, in any event, if a LIBOR Loan is converted into a Base
Rate Loan on any day other than the last day of the Interest Period applicable thereto, the
Borrower will pay, upon such conversion, all amounts required under Section 2.18 to be paid as a
consequence thereof), (y) no such

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conversion or continuation shall be permitted with regard to any Swingline Loans, and (z) no
conversion of Base Rate Loans into LIBOR Loans or continuation of LIBOR Loans shall be permitted
during the continuance of a Default or Event of Default.

     (b) The Borrower shall make each such election by giving the Administrative Agent written
notice not later than 11:00 a.m., Charlotte time, three Business Days prior to the intended
effective date of any conversion of Base Rate Loans into, or continuation of, LIBOR Loans and one
Business Day prior to the intended effective date of any conversion of LIBOR Loans into Base Rate
Loans. Each such notice (each, a “Notice of Conversion/Continuation”) shall be
irrevocable, shall be given in the form of Exhibit B-2 and shall specify (x) the date of such
conversion or continuation (which shall be a Business Day), (y) in the case of a conversion into,
or a continuation of, LIBOR Loans, the Interest Period to be applicable thereto, and (z) the
aggregate amount, Class and Type of the Loans being converted or continued. Upon the receipt of a
Notice of Conversion/Continuation, the Administrative Agent will promptly notify each applicable
Lender of the proposed conversion or continuation. In the event that the Borrower shall fail to
deliver a Notice of Conversion/Continuation as provided herein with respect to any outstanding
LIBOR Loans, such LIBOR Loans shall, absent a Default or Event of Default, automatically be
continued as LIBOR Loans with an Interest Period of one month upon the expiration of the then
current Interest Period applicable thereto (unless repaid pursuant to the terms hereof). In the
event the Borrower shall have failed to select in a Notice of Conversion/Continuation the duration
of the Interest Period to be applicable to any conversion into, or continuation of, LIBOR Loans,
then the Borrower shall be deemed to have selected an Interest Period with a duration of one month.

     2.12 Method of Payments; Computations; Apportionment of Payments.

     (a) All payments by the Borrower hereunder shall be made without setoff, counterclaim or
other defense, in Dollars and in immediately available funds to the Administrative Agent, for the
account of the Lenders entitled to such payment or the Swingline Loans (except as otherwise
expressly provided herein as to payments required to be made directly to the Issuing Lender or the
Lenders) at the Payment Office prior to 12:00 noon, Charlotte time, on the date payment is due.
Any payment made as required hereinabove, but after 12:00 noon, Charlotte time, shall be deemed to
have been made on the next succeeding Business Day. If any payment falls due on a day that is not
a Business Day, then such due date shall be extended to the next succeeding Business Day (except
that in the case of LIBOR Loans to which the provisions of Section 2.10(iv) are applicable, such
due date shall be the next preceding Business Day), and such extension of time shall then be
included in the computation of payment of interest, fees or other applicable amounts.

     (b) The Administrative Agent will distribute to the Lenders like amounts relating to
payments made to the Administrative Agent for the account of the Lenders as follows: (i) if the
payment is received by 12:00 noon, Charlotte time, in immediately available funds, the
Administrative Agent will make available to each relevant Lender on the same date, by wire transfer
of immediately available funds, such Lender’s ratable share of such payment (based on the
percentage that the amount of the relevant payment owing to such Lender bears to the total amount
of such payment owing to all of the relevant Lenders), and (ii) if such payment is received after
12:00 noon, Charlotte time, or in other than immediately available funds, the Administrative Agent
will make available to each such Lender its ratable share of such payment by wire transfer of
immediately available funds on the next succeeding Business Day (or in the case of uncollected
funds, as soon as practicable after collected). Notwithstanding the foregoing or any contrary
provision hereof, if any Lender shall fail to make any payment required to be made by it hereunder
to the Administrative Agent, the Swingline Lender or the Issuing Lender, then the Administrative
Agent may, in its discretion, apply any amounts thereafter received by the Administrative Agent for
the account of such Lender to satisfy such Lender’s obligations to the Administrative Agent, the
Swingline Lender or the Issuing Lender until all such unsatisfied obligations are fully paid. If
the

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Administrative Agent shall not have made a required distribution to the appropriate Lenders as
required hereinabove after receiving a payment for the account of such Lenders, the Administrative
Agent will pay to each such Lender, on demand, its ratable share of such payment with interest
thereon at the Federal Funds Rate for each day from the date such amount was required to be
disbursed by the Administrative Agent until the date repaid to such Lender. The Administrative
Agent will distribute to the Issuing Lender like amounts relating to payments made to the
Administrative Agent for the account of the Issuing Lender in the same manner, and subject to the
same terms and conditions, as set forth hereinabove with respect to distributions of amounts to the
Lenders.

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

     (d) All computations of interest and fees hereunder shall be made on the basis of a year
consisting of (i) in the case of interest on Base Rate Loans, 365/366 days, as the case may be, or
(ii) in all other instances, 360 days; and in each case under (i) and (ii) above, with regard to
the actual number of days (including the first day, but excluding the last day) elapsed.

     (e) Notwithstanding any other provision of this Agreement or any other Credit Document to
the contrary, all amounts collected or received by the Administrative Agent or any Lender after
acceleration of the Loans pursuant to Section 9.2 or in respect of any sale of, collection from or
other realization upon all or any part of the Collateral pursuant to the exercise by the
Administrative Agent of its remedies shall be applied by the Administrative Agent as follows:

     (i) first, to the payment of all reasonable out-of-pocket costs and
expenses (including, without limitation, reasonable attorneys’ and consultants’ fees
irrespective of whether such fees are allowed as a claim after the occurrence of a
Bankruptcy Event) of the Administrative Agent in connection with enforcing the rights of the
Lenders under the Credit Documents and any protective advances made by the Administrative
Agent with respect to the Collateral under or pursuant to the terms of the Security
Documents;

     (ii) second, to the payment of any fees owed to the Administrative Agent
hereunder or under any other Credit Document;

     (iii) third, to the extent subject to indemnification by the Borrower
hereunder, the payment of all reasonable and documented out-of-pocket costs and expenses
(including, without limitation, reasonable attorneys’ and consultants’ fees irrespective of
whether such fees are allowed as a claim after the occurrence of a Bankruptcy Event) of each
of the Lenders in connection with enforcing its rights under the Credit Documents or
otherwise with respect to the Obligations owing to such Lender;

     (iv) fourth, to the payment of all of the Obligations consisting of accrued
fees and interest (including, without limitation, fees incurred and interest accruing at the
then applicable

37

 

rate after the occurrence of a Bankruptcy Event irrespective of whether a claim for such
fees incurred and interest accruing is allowed in such proceeding), and including with
respect to any Hedge Agreement between any Credit Party and any Hedge Party (to the extent
such Hedge Agreement is permitted hereunder), any fees, premiums and scheduled periodic
payments due under such Hedge Agreement prior to any termination thereof and any interest
accrued thereon;

     (v) fifth, to the payment of the outstanding principal amount of the
Obligations (including the payment of any outstanding Reimbursement Obligations and the
obligation to cash collateralize Letter of Credit Exposure), and including with respect to
any Hedge Agreement between any Credit Party and any Hedge Party (to the extent such Hedge
Agreement is permitted hereunder), any breakage, termination or other payments due under
such Hedge Agreement and any interest accrued thereon;

     (vi) sixth, to the payment of all other Obligations and other obligations
that shall have become due and payable under the Credit Documents or otherwise and not
repaid; and

     (vii) seventh, to the payment of the surplus (if any) to whomever may be
lawfully entitled to receive such surplus.

In carrying out the foregoing, (x) amounts received shall be applied in the numerical order
provided until exhausted prior to application to the next succeeding category, (y) all amounts
shall be apportioned ratably among the Lenders or Hedge Parties in proportion to the amounts of
such principal, interest, fees or other Obligations owed to them respectively pursuant to
clauses (iii) through (vii) above, and (z) to the extent that any amounts available for
distribution pursuant to clause (v) above are attributable to the issued but undrawn amount of
outstanding Letters of Credit, such amounts shall be held by the Administrative Agent to cash
collateralize Letter of Credit Exposure pursuant to Section 3.8.

     2.13 Recovery of Payments.

     (a) The Borrower agrees that to the extent the Borrower makes a payment or payments to or
for the account of the Administrative Agent, the Swingline Lender, any Lender or the Issuing
Lender, which payment or payments or any part thereof are subsequently invalidated, declared to be
fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other
party under any bankruptcy, insolvency or similar state or federal law, common law or equitable
cause (whether as a result of any demand, settlement, litigation or otherwise), then, to the extent
of such payment or repayment, the Obligation intended to be satisfied shall be revived and
continued in full force and effect as if such payment had not been received.

     (b) If any amounts distributed by the Administrative Agent to any Lender are subsequently
returned or repaid by the Administrative Agent to the Borrower, its representative or successor in
interest, or any other Person, whether by court order, by settlement approved by the Lender in
question, or pursuant to applicable Requirements of Law, such Lender will, promptly upon receipt of
notice thereof from the Administrative Agent, pay the Administrative Agent such amount. If any
such amounts are recovered by the Administrative Agent from the Borrower, its representative or
successor in interest or such other Person, the Administrative Agent will redistribute such amounts
to the Lenders on the same basis as such amounts were originally distributed.

     2.14 Use of Proceeds. The proceeds of the Loans shall be used (i) to repay the
Existing Senior Credit Facilities in full, and (ii) to provide for working capital and general
corporate purposes and in accordance with the terms and provisions of this Agreement (including,
without limitation, to finance Permitted Acquisitions in accordance with the terms and provisions
of this Agreement).

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     2.15 Pro Rata Treatment.

     (a) Except in the case of Swingline Loans and for the application of funds arising from
the existence of a Defaulting Lender, all fundings, continuations and conversions of Loans of any
Class shall be made by the Lenders pro rata on the basis of their respective Commitments to provide
Loans of such Class (in the case of the funding of Loans of such Class pursuant to Section 2.2) or
on the basis of their respective outstanding Loans of such Class (in the case of continuations and
conversions of Loans of such Class pursuant to Section 2.11, and additionally in all cases in the
event the Commitments for Loans of such Class have expired or have been terminated), as the case
may be from time to time. All payments on account of principal of or interest on any Loans, fees
or any other Obligations owing to or for the account of any one or more Lenders shall be
apportioned ratably among such Lenders in proportion to the amounts of such principal, interest,
fees or other Obligations owed to them respectively.

     (b) If any Lender shall, by exercising any right of setoff or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Loans or other Obligations
hereunder resulting in such Lender’s receiving payment of a proportion of the aggregate amount of
its Loans and accrued interest thereon or other such Obligations greater than its pro rata share
thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the
Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the
Loans and such other Obligations of the other Lenders, or make such other adjustments as shall be
equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in
accordance with the aggregate amount of principal of and accrued interest on their respective Loans
and other amounts owing them, 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 Section shall not be construed to apply to (x) any payment made by the
Borrower pursuant to and in accordance with the express terms of this Agreement or (y) any payment
obtained by a Lender as consideration for the assignment of or sale of a participation in any of
its Loans or participations in Reimbursement Obligations or Swingline Loans to any assignee or
Participant, other than to the Borrower or any Subsidiary thereof (as to which the provisions of
this Section 2.15(b) shall apply). The 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 the Borrower rights of setoff and
counterclaim with respect to such participation as fully as if such Lender were a direct creditor
of the Borrower in the amount of such participation. If under any applicable bankruptcy,
insolvency or similar law, any Lender receives a secured claim in lieu of a setoff to which this
Section 2.15(b) applies, such Lender shall, to the extent practicable, exercise its rights in
respect of such secured claim in a manner consistent with the rights of the Lenders entitled under
this Section 2.15(b) to share in the benefits of any recovery on such secured claim.

     2.16 Increased Costs; Change in Circumstances; Illegality.

     (a) If any Change in Law shall:

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

     (ii) subject any Lender or the Issuing Lender to any tax of any kind whatsoever
with respect to this Agreement, any Letter of Credit, any participation in a Letter of
Credit or any LIBOR Loan made by it, or change the basis of taxation of payments to such
Lender or the

39

 

Issuing Lender in respect thereof (except for Indemnified Taxes or Other Taxes covered by
Section 2.17 and the imposition of, or any change in the rate of, any Excluded Tax payable
by such Lender or the Issuing Lender); or

     (iii) impose on any Lender or the Issuing Lender or the London interbank market any
other condition, cost or expense affecting this Agreement or LIBOR Loans made by such Lender
or any Letter of Credit or participation therein;

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

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

     (c) A certificate of a Lender or the Issuing Lender setting forth the amount or amounts
necessary to compensate such Lender or the Issuing Lender or its holding company, as the case may
be, as specified in Section 2.16(a) or Section 2.16(b) and delivered to the Borrower shall be
conclusive absent manifest error. The Borrower shall pay such Lender or the Issuing Lender, as the
case may be, the amount shown as due on any such certificate within ten days after receipt thereof.

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

     (e) If, on or prior to the first day of any Interest Period, (y) the Administrative Agent
shall have determined that adequate and reasonable means do not exist for ascertaining the
applicable LIBOR

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Rate for such Interest Period or (z) the Administrative Agent shall have received written notice
from the Required Lenders of their determination that the rate of interest referred to in the
definition of “LIBOR Rate” upon the basis of which the Adjusted LIBOR Rate for LIBOR Loans for such
Interest Period is to be determined will not adequately and fairly reflect the cost to such Lenders
of making or maintaining LIBOR Loans during such Interest Period, the Administrative Agent will
forthwith so notify the Borrower and the Lenders. Upon such notice, (i) all then outstanding LIBOR
Loans shall automatically, on the expiration date of the respective Interest Periods applicable
thereto (unless then repaid in full), be converted into Base Rate Loans, (ii) the obligation of the
Lenders to make, to convert Base Rate Loans into, or to continue, LIBOR Loans shall be suspended
(including pursuant to the Borrowing to which such Interest Period applies), and (iii) any Notice
of Borrowing or Notice of Conversion/Continuation given at any time thereafter with respect to
LIBOR Loans shall be deemed to be a request for Base Rate Loans, in each case until the
Administrative Agent or the Required Lenders, as the case may be, shall have determined that the
circumstances giving rise to such suspension no longer exist (and the Required Lenders, if making
such determination, shall have so notified the Administrative Agent), and the Administrative Agent
shall have so notified the Borrower and the Lenders.

     (f) Notwithstanding any other provision in this Agreement, if, at any time after the date
hereof and from time to time, any Lender shall have determined in good faith that the introduction
of or any change in any applicable law, rule or regulation or in the interpretation or
administration thereof by any Governmental Authority charged with the interpretation or
administration thereof, or compliance with any guideline or request from any such Governmental
Authority (whether or not having the force of law), has or would have the effect of making it
unlawful for such Lender to make or to continue to make or maintain LIBOR Loans, such Lender will
forthwith so notify the Administrative Agent and the Borrower. Upon such notice, (i) each of such
Lender’s then outstanding LIBOR Loans shall automatically, on the expiration date of the respective
Interest Period applicable thereto (or, to the extent any such LIBOR Loan may not lawfully be
maintained as a LIBOR Loan until such expiration date, upon such notice) and to the extent not
sooner prepaid, be converted into a Base Rate Loan, (ii) the obligation of such Lender to make, to
convert Base Rate Loans into, or to continue, LIBOR Loans shall be suspended (including pursuant to
any Borrowing for which the Administrative Agent has received a Notice of Borrowing but for which
the Borrowing Date has not arrived), and (iii) any Notice of Borrowing or Notice of
Conversion/Continuation given at any time thereafter with respect to LIBOR Loans shall, as to such
Lender, be deemed to be a request for a Base Rate Loan, in each case until such Lender shall have
determined that the circumstances giving rise to such suspension no longer exist and shall have so
notified the Administrative Agent, and the Administrative Agent shall have so notified the
Borrower.

     2.17 Taxes.

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

     (b) Without limiting the provisions of Section 2.17(a), the Borrower shall timely pay any
Other Taxes to the relevant Governmental Authority in accordance with applicable law.

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

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

     (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding
tax under the law of the jurisdiction in which the Borrower is resident for tax purposes, or any
treaty to which such jurisdiction is a party, with respect to payments hereunder or under any other
Credit Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the
time or times prescribed by applicable law or reasonably requested by the Borrower or the
Administrative Agent, such properly completed and executed documentation prescribed by applicable
law as will permit such payments to be made without withholding or at a reduced rate of
withholding. In addition, any Lender, if requested by the Borrower or the Administrative Agent,
shall deliver such other documentation prescribed by applicable law or reasonably requested by the
Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to
determine whether or not such Lender is subject to backup withholding or information reporting
requirements.

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

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

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

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

     (iv) any other form prescribed by applicable law as a basis for claiming exemption
from or a reduction in United States Federal withholding tax duly completed together with
such

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supplementary documentation as may be prescribed by applicable law to permit the Borrower to
determine the withholding or deduction required to be made.

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

     2.18 Compensation. The Borrower will compensate each Lender upon demand for all
losses, expenses and liabilities (including, without limitation, any loss, expense or liability
incurred by reason of the liquidation or reemployment of deposits or other funds required by such
Lender to fund or maintain LIBOR Loans) that such Lender may incur or sustain (i) if for any reason
(other than a default by such Lender) a Borrowing or continuation of, or conversion into, a LIBOR
Loan does not occur on a date specified therefor in a Notice of Borrowing or Notice of
Conversion/Continuation, (ii) if any repayment, prepayment or conversion of any LIBOR Loan occurs
on a date other than the last day of an Interest Period applicable thereto (including as a
consequence of any assignment made pursuant to Section 2.19(a) or of any acceleration of the
maturity of the Loans pursuant to Section 9.2), (iii) if any prepayment of any LIBOR Loan is not
made on any date specified in a notice of prepayment given by the Borrower or (iv) as a consequence
of any other failure by the Borrower to make any payments with respect to any LIBOR Loan when due
hereunder. Calculation of all amounts payable to a Lender under this Section 2.18 shall be made as
though such Lender had actually funded its relevant LIBOR Loan through the purchase of a Eurodollar
deposit bearing interest at the LIBOR Rate in an amount equal to the amount of such LIBOR Loan,
having a maturity comparable to the relevant Interest Period; provided, however,
that each Lender may fund its LIBOR Loans in any manner it sees fit and the foregoing assumption
shall be utilized only for the calculation of amounts payable under this Section 2.18. A
certificate (which shall be in reasonable detail) showing the bases for the determinations set
forth in this Section 2.18 by any Lender as to any additional amounts payable pursuant to this
Section 2.18 shall be submitted by such Lender to the Borrower either directly or through the
Administrative Agent. Determinations set forth in any such certificate made in good faith for
purposes of this Section 2.18 of any such losses, expenses or liabilities shall be conclusive
absent manifest error.

     2.19 Replacement of Lender; Mitigation of Costs.

     (a) The Borrower may, at any time at its sole expense and effort, require any Lender
(i) that has requested compensation from the Borrower under Sections 2.16(a) or 2.16(b), or that is
a Defaulting Lender, in any case upon notice to such Lender and the Administrative Agent, to assign
and delegate, without recourse (in accordance with and subject to the restrictions contained in,
and consents required by, Section 11.6), all of its interests, rights and obligations under this
Agreement and the related Credit Documents to an assignee that shall assume such obligations (which
assignee shall be another Lender, if a

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Lender accepts such assignment, or another Person reasonably acceptable to the Administrative
Agent); provided that:

     (i) the Borrower shall have paid to the Administrative Agent the assignment fee
specified in Section 11.6(b)(iv);

     (ii) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable
to it hereunder and under the other Loan Documents (including any amounts under Section
2.18) from the assignee (to the extent of such outstanding principal and accrued interest
and fees) or the Borrower (in the case of all other amounts);

     (iii) in the case of any such assignment resulting from a request for compensation
under Sections 2.16(a) or 2.16(b) or payments required to be made pursuant to Section 2.17,
such assignment will result in a reduction in such compensation or payments thereafter; and

     (iv) such assignment does not conflict with applicable Requirements of Law.

     A Lender shall not be required to make any such assignment or delegation if, prior thereto, as
a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to
require such assignment and delegation cease to apply.

     (b) If any Lender requests compensation under Sections 2.16(a) or 2.16(b), or the Borrower
is required to pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.17, or if any Lender gives a notice pursuant to Section
2.16(f), then such Lender shall use reasonable efforts to designate a different Lending Office for
funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another
of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or
assignment (i) would eliminate or reduce amounts payable pursuant to Sections 2.16(a), 2.16(b) or
2.17, as the case may be, in the future, or eliminate the need for the notice pursuant to Section
2.16(f), as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such
designation or assignment.

     2.20 Defaulting Lenders.

     (a) Notwithstanding anything to the contrary contained in this Agreement, if any Lender
becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender,
to the extent permitted by applicable law:

     (i) Such Defaulting Lender’s right to approve or disapprove any amendment, waiver
or consent with respect to this Agreement shall be restricted as set forth in the definition
of Required Lenders and in Section 11.5.

     (ii) Any payment of principal, interest, fees or other amounts received by the
Administrative Agent for the account of such Defaulting Lender (whether voluntary or
mandatory, at maturity, pursuant to Article IX or otherwise) shall be applied at such time
or times as may be determined by the Administrative Agent as follows: first, to the payment
of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to
the Issuing Bank or the Swingline Lender hereunder; third, if so determined by the
Administrative Agent or

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requested by the Issuing Bank or the Swingline Lender, to be held as Cash Collateral for
future funding obligations of such Defaulting Lender in respect of any participation in any
Letter of Credit or Swingline Loan; fourth, as the Borrower may request (so long as no
Default exists), to the funding of any Loan in respect of which that Defaulting Lender has
failed to fund its portion thereof as required by this Agreement, as determined by the
Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower,
to be held in an interest bearing deposit account and released in order to satisfy
obligations of such Defaulting Lender to fund Loans under this Agreement; sixth, to the
payment of any amounts owing to the Lenders, the Issuing Bank or the Swingline Lender as a
result of any judgment of a court of competent jurisdiction obtained by any Lender, the
Issuing Bank or the Swingline Lender against that Defaulting Lender as a result of such
Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no
Default exists, to the payment of any amounts owing to the Borrower as a result of any
judgment of a court of competent jurisdiction obtained by the Borrower against such
Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under
this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of
competent jurisdiction; provided that if (x) such payment is a payment of the principal
amount of any Loans or any Letter of Credit Exposure in respect of which such Defaulting
Lender has not fully funded its appropriate share, and (y) such Loans were made or the
related Letters of Credit were issued at a time when the conditions set forth in Section 5.2
were satisfied or waived, such payment shall be applied solely to pay the Loans of, and
obligations in respect of Letters of Credit owed to, all non-Defaulting Lenders on a pro
rata basis prior to being applied to the payment of any Loans of, or obligations in respect
of Letters of Credit owed to, such Defaulting Lender. Any payments, prepayments or other
amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts
owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section shall be
deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably
consents hereto.

     (iii) All or any part of such Defaulting Lender’s Letters of Credit Exposure and
its Swingline Exposure shall automatically (effective on the day such Lender becomes a
Defaulting Lender) be reallocated among the non-Defaulting Lenders in accordance with their
respective Credit Exposures (calculated without regard to such Defaulting Lender’s
Commitment) but only to the extent that (x) no Default shall have occurred and be continuing
(and, unless the Borrower shall have otherwise notified the Administrative Agent at the
time, the Borrower shall be deemed to have represented and warranted that such condition is
satisfied at such time), and (y) such reallocation does not cause the Revolving Credit
Exposure of any non-Defaulting Lender to exceed such non-Defaulting Lender’s Commitment.

     (iv) If the reallocation described in clause (iii) above cannot, or can only
partially, be effected, the Borrower shall, without prejudice to any right or remedy
available to it hereunder or under law, within two Business Days following notice by the
Administrative Agent, Cash Collateralize such Defaulting Lender’s Letter of Credit Exposure
and its Swingline Exposure (after giving effect to any partial reallocation pursuant to
clause (iii) above) in accordance with the procedures set forth in Section 2.20(c) for so
long as such Swingline Loans are outstanding.

     (b) If the Borrower, the Administrative Agent, the Issuing Bank and the Swingline Lender
agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be
a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of
the effective date specified in such notice and subject to any conditions set forth therein (which
may include arrangements with respect to any Cash Collateral), that Lender will, to the extent
applicable, purchase that portion of outstanding Loans of the other Lenders or take such other
actions as the Administrative Agent may determine to be necessary to cause the Revolving Loans and
funded and unfunded participations in

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Letters of Credit and Swingline Loans to be held on a pro rata basis by the Lenders in accordance
with their respective Credit Exposures (without giving effect to Section 2.20(a)(iii), whereupon
such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made
retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while
that Lender was a Defaulting Lender; and provided, further, that except to the
extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting
Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising
from that Lender’s having been a Defaulting Lender.

     (c) At any time that there shall exist a Defaulting Lender, within two Business Days upon
the request of the Administrative Agent, the Issuing Bank or the Swingline Lender, the Borrower
shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all
Fronting Exposure (after giving effect to Section 2.20(a)(iii) and any Cash Collateral provided by
the Defaulting Lender).

     (i) All Cash Collateral (other than credit support not constituting funds subject
to deposit) shall be maintained in blocked, interest bearing deposit accounts with the
Administrative Agent. The Borrower, and to the extent provided by any Lender, such Lender,
hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit
of the Administrative Agent, the Issuing Banks and the Lenders (including the Swingline
Lender), and agrees to maintain, a first priority security interest in all such cash,
deposit accounts and all balances therein, and all other property so provided as collateral
pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations
to which such Cash Collateral may be applied pursuant to clause (ii) below. If at any time
the Administrative Agent determines that Cash Collateral is subject to any right or claim of
any Person other than the Administrative Agent as herein provided, or that the total amount
of such Cash Collateral is less than the applicable Fronting Exposure and other obligations
secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand
by the Administrative Agent, pay or provide to the Administrative Agent additional Cash
Collateral in an amount sufficient to eliminate such deficiency.

     (ii) Notwithstanding anything to the contrary contained in this Agreement, Cash
Collateral provided under any of this Section 2.20 in respect of Letters of Credit or
Swingline Loans shall be held and applied to the satisfaction of the specific Letter of
Credit Exposure or Swingline Loans, obligations to fund participations therein (including,
as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such
obligation) and other obligations for which the Cash Collateral was so provided, prior to
any other application of such property as may be provided for herein.

     (iii) Cash Collateral (or the appropriate portion thereof) provided to reduce
Fronting Exposure or other obligations shall be released promptly following (i) the
elimination of the applicable Fronting Exposure or other obligations giving rise thereto
(including by the termination of Defaulting Lender status of the applicable Lender (or, as
appropriate, its assignee)), or (ii) the Administrative Agent’s good faith determination
that there exists excess Cash Collateral; provided, however, (x) that Cash
Collateral furnished by or on behalf of a Loan Party shall not be released during the
continuance of a Default (and following application as provided in this Section 2.20 may be
otherwise applied in accordance with Section 2.15), and (y) the Person providing Cash
Collateral and each applicable Issuing Bank or Swingline Lender may agree that Cash
Collateral shall not be released but instead held to support future anticipated Fronting
Exposure or other obligations.

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ARTICLE III

LETTERS OF CREDIT

     3.1 Issuance. Subject to and upon the terms and conditions herein set forth, so long
as no Default or Event of Default has occurred and is continuing, the Issuing Lender will, at any
time and from time to time on and after the Closing Date and prior to the earlier of (i) the Letter
of Credit Maturity Date and (ii) the Termination Date, and upon request by the Borrower in
accordance with the provisions of Section 3.2, issue for the account of the Borrower or its
Subsidiaries one or more irrevocable standby letters of credit denominated in Dollars and in a form
customarily used or otherwise approved by the Issuing Lender (together with all amendments,
modifications and supplements thereto, substitutions therefor and renewals and restatements
thereof, collectively, the “Letters of Credit”). The Stated Amount of each Letter of
Credit shall not be less than such amount as may be acceptable to the Issuing Lender.
Notwithstanding the foregoing:

     (a) No Letter of Credit shall be issued if, after giving effect to such issuance, (i) the
Stated Amount when added to the aggregate Letter of Credit Exposure of the Lenders at such time,
would exceed the Letter of Credit Subcommitment, (ii) the Stated Amount when added to the Aggregate
Credit Exposure, would exceed the aggregate Commitments or the Maximum Availability at such time,
and (iii) any Lender is at that time a Defaulting Lender, unless the Issuing Lender has entered
into an arrangement, including the delivery of Cash Collateral, satisfactory to the Issuing Lender
(in its sole discretion) with the Borrower or such Lender to eliminate the Issuing Lender’s actual
or potential Fronting Exposure (after giving effect to Section 2.20(a)(iii)) with respect to the
Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that
Letter of Credit and all other Letter of Credit Exposure as to which the Issuing Lender has actual
or potential Fronting Exposure, as it may elect in its sole discretion;

     (b) Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of
any obligations of, or is for the account of, or otherwise will benefit, a Subsidiary of the
Borrower, the Borrower shall be obligated to reimburse the Issuing Lender hereunder for any and all
drawings under such Letter of Credit (and the Borrower hereby acknowledges that the issuance of
Letters of Credit for the benefit of its Subsidiaries inures to the benefit of the Borrower and
that the Borrower’s business derives substantial benefits from the businesses of such
Subsidiaries);

     (c) No Letter of Credit shall be issued that by its terms expires later than the Letter of
Credit Maturity Date or, in any event, more than one year after its date of issuance;
provided, however, that a Letter of Credit may, if requested by the Borrower,
provide by its terms, and on terms acceptable to the Issuing Lender, for renewal for successive
periods of one year or less (but not beyond the Letter of Credit Maturity Date), unless and until
the Issuing Lender shall have delivered a notice of nonrenewal to the beneficiary of such Letter of
Credit; and

     (d) The Issuing Lender shall be under no obligation to issue any Letter of Credit if, at the
time of such proposed issuance, (i) any order, judgment or decree of any Governmental Authority or
arbitrator shall purport by its terms to enjoin or restrain the Issuing Lender from issuing such
Letter of Credit, or any Requirement of Law applicable to the Issuing Lender or any request or
directive (whether or not having the force of law) from any Governmental Authority with
jurisdiction over the Issuing Lender shall prohibit, or request that the Issuing Lender refrain
from, the issuance of letters of credit generally or such Letter of Credit in particular or shall
impose upon the Issuing Lender with respect to such Letter of Credit any restriction or reserve or
capital requirement (for which the Issuing Lender is not
otherwise compensated) not in effect on the Closing Date, or any unreimbursed loss, cost or
expense that was not applicable, in effect or known to the Issuing Lender as of the Closing Date
and that the Issuing

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Lender in good faith deems material to it, or (ii) the Issuing Lender shall
have actual knowledge, or shall have received notice from any Lender, prior to the issuance of such
Letter of Credit that one or more of the conditions specified in Section 4.1 (if applicable) or
Section 4.2 are not then satisfied (or have not been waived in writing as required herein) or that
the issuance of such Letter of Credit would violate the provisions of Section 3.1(a).

     3.2 Notices. Whenever the Borrower desires the issuance of a Letter of Credit, the
Borrower will give the Issuing Lender written notice with a copy to the Administrative Agent not
later than 11:00 a.m., Charlotte time, five Business Days (or such shorter period as is acceptable
to the Issuing Lender in any given case) prior to the requested date of issuance thereof. Each
such notice (each, a “Letter of Credit Notice”) shall be irrevocable, shall be given in the
form of Exhibit B-4 and shall specify (i) the requested date of issuance, which shall be a Business
Day, (ii) the requested Stated Amount and expiry date of the Letter of Credit, and (iii) the name
and address of the requested beneficiary or beneficiaries of the Letter of Credit. The Borrower
will also complete any application procedures and documents reasonably required by the Issuing
Lender in connection with the issuance of any Letter of Credit. Upon its issuance of any Letter of
Credit, the Issuing Lender will promptly notify the Administrative Agent of such issuance, and the
Administrative Agent will give prompt notice thereof to each Lender. The renewal or extension of
any outstanding Letter of Credit shall, for purposes of this Article 2.20, be treated in all
respects as the issuance of a new Letter of Credit.

     3.3 Participations. Immediately upon the issuance of any Letter of Credit, the
Issuing Lender shall be deemed to have sold and transferred to each Lender, and each Lender shall
be deemed irrevocably and unconditionally to have purchased and received from the Issuing Lender,
without recourse or warranty (except for the absence of Liens thereon created, incurred or suffered
to exist by, through or under the Issuing Lender), an undivided interest and participation, pro
rata (based on the percentage of the aggregate Commitments represented by such Lender’s
Commitment), in such Letter of Credit, each drawing made thereunder and the obligations of the
Borrower under this Agreement with respect thereto and any Collateral or other security therefor or
guaranty pertaining thereto; provided, however, that the fee relating to Letters of
Credit described in Section 2.9(d) shall be payable directly to the Issuing Lender as provided
therein, and the other Lenders shall have no right to receive any portion thereof. In
consideration and in furtherance of the foregoing, each Lender hereby absolutely and
unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Lender,
such Lender’s pro rata share (determined as provided above) of each Reimbursement Obligation not
reimbursed by the Borrower on the date due as provided in Section 3.4 or through the Borrowing of
Revolving Loans as provided in Section 3.5 (because the conditions set forth in Section 4.2 cannot
be satisfied, or for any other reason), or of any reimbursement payment required to be refunded to
the Borrower for any reason. Upon any change in the Commitments of any of the Lenders pursuant to
Section 11.6(a), with respect to all outstanding Letters of Credit and Reimbursement Obligations
there shall be an automatic adjustment to the participations pursuant to this Section 3.3 to
reflect the new pro rata shares of the assigning Lender and the assignee. Each Lender’s obligation
to make payment to the Issuing Lender pursuant to this Section 3.4 shall be absolute and
unconditional and shall not be affected by any circumstance whatsoever, including the termination
of the Commitments or the existence of any Default or Event of Default, and each such payment shall
be made without any offset, abatement, reduction or withholding whatsoever.

     3.4 Reimbursement. The Borrower hereby agrees to reimburse the Issuing Lender by
making payment to the Administrative Agent, for the account of the Issuing Lender, in immediately
available funds, for any payment made by the Issuing Lender under any Letter of Credit (each such
amount so paid until reimbursed, together with interest thereon payable as provided hereinbelow, a
“Reimbursement
Obligation”) immediately upon, and in any event on the same Business Day as, the
making of such payment by the Issuing Lender (provided that any such Reimbursement
Obligation shall be deemed

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timely satisfied (but nevertheless subject to the payment of interest
thereon as provided hereinbelow) if satisfied pursuant to a Borrowing of Revolving Loans made on
the date of such payment by the Issuing Lender, as set forth more completely in Section 3.5),
together with interest on the amount so paid by the Issuing Lender, to the extent not reimbursed
prior to 2:00 p.m., Charlotte time, on the date of such payment or disbursement, for the period
from the date of the respective payment to the date the Reimbursement Obligation created thereby is
satisfied, at the Adjusted Base Rate applicable to Revolving Loans as in effect from time to time
during such period, such interest also to be payable on demand. The Issuing Lender will provide
the Administrative Agent and the Borrower with prompt notice of any payment or disbursement made or
to be made under any Letter of Credit, although the failure to give, or any delay in giving, any
such notice shall not release, diminish or otherwise affect the Borrower’s obligations under this
Section 3.4 or any other provision of this Agreement. The Administrative Agent will promptly pay
to the Issuing Lender any such amounts received by it under this Section 3.4.

     3.5 Payment by Revolving Loans. In the event that the Issuing Lender makes any
payment under any Letter of Credit and the Borrower shall not have timely satisfied in full its
Reimbursement Obligation to the Issuing Lender pursuant to Section 3.4, and to the extent that any
amounts then held in the Cash Collateral Account established pursuant to Section 3.8 shall be
insufficient to satisfy such Reimbursement Obligation in full, the Issuing Lender will promptly
notify the Administrative Agent, and the Administrative Agent will promptly notify each Lender, of
such failure. If the Administrative Agent gives such notice prior to 12:00 noon, Charlotte time,
on any Business Day, each Lender will make available to the Administrative Agent, for the account
of the Issuing Lender, its pro rata share (based on the percentage of the aggregate Commitments
represented by such Lender’s Commitment) of the amount of such payment on such Business Day in
immediately available funds. If the Administrative Agent gives such notice after 12:00 noon,
Charlotte time, on any Business Day, each such Lender shall make its pro rata share of such amount
available to the Administrative Agent on the next succeeding Business Day. If and to the extent
any Lender shall not have so made its pro rata share of the amount of such payment available to the
Administrative Agent, such Lender agrees to pay to the Administrative Agent, for the account of the
Issuing Lender, forthwith on demand such amount, together with interest thereon at the Federal
Funds Rate for each day from such date until the date such amount is paid to the Administrative
Agent. The failure of any Lender to make available to the Administrative Agent its pro rata share
of any payment under any Letter of Credit shall not relieve any other Lender of its obligation
hereunder to make available to the Administrative Agent its pro rata share of any payment under any
Letter of Credit on the date required, as specified above, but no Lender shall be responsible for
the failure of any other Lender to make available to the Administrative Agent such other Lender’s
pro rata share of any such payment. Each such payment by a Lender under this Section 3.5 of its
pro rata share of an amount paid by the Issuing Lender shall constitute a Revolving Loan by such
Lender (the Borrower being deemed to have given a timely Notice of Borrowing therefor) and shall be
treated as such for all purposes of this Agreement; provided that for purposes of
determining the aggregate Unutilized Commitments immediately prior to giving effect to the
application of the proceeds of such Revolving Loans, the Reimbursement Obligation being satisfied
thereby shall be deemed not to be outstanding at such time. Each Lender’s obligation to make
Revolving Loans pursuant to this Section 3.5 shall be absolute and unconditional and shall not be
affected by any circumstance whatsoever, including, without limitation, the failure of the amount
of such Borrowing of Loans to meet the minimum Borrowing amount specified in Section 2.2(b);
provided, however, that each Lender’s obligation to make Revolving Loans pursuant
to this Section 3.5 is subject to the conditions set forth in Section 4.2 (other than delivery by
the Borrower of a Notice of Borrowing).

     3.6 Payment to Lenders. Whenever the Issuing Lender receives a payment in respect of
a Reimbursement Obligation as to which the Administrative Agent has received, for the account of
the
Issuing Lender, any payments from the Lenders pursuant to Section 3.5, the Issuing Lender will
promptly pay to the Administrative Agent, and the Administrative Agent will promptly pay to each
Lender that has

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paid its pro rata share thereof, in immediately available funds, an amount equal to
such Lender’s ratable share (based on the proportionate amount funded by such Lender to the
aggregate amount funded by all Lenders) of such Reimbursement Obligation.

     3.7 Obligations Absolute. The Reimbursement Obligations of the Borrower shall be
irrevocable, shall remain in effect until the Issuing Lender shall have no further obligations to
make any payments or disbursements under any circumstances with respect to any Letter of Credit,
and shall be absolute and unconditional, shall not be subject to counterclaim, setoff or other
defense or any other qualification or exception whatsoever and shall be made in accordance with the
terms and conditions of this Agreement under all circumstances, including, without limitation, any
of the following circumstances:

     (a) Any lack of validity or enforceability of this Agreement, any of the other Credit
Documents or any documents or instruments relating to any Letter of Credit;

     (b) Any change in the time, manner or place of payment of, or in any other term of, all or any
of the Obligations in respect of any Letter of Credit or any other amendment, modification or
waiver of or any consent to departure from any Letter of Credit made in accordance with its terms
or any documents or instruments relating thereto, in each case whether or not the Borrower has
notice or knowledge thereof;

     (c) The existence of any claim, setoff, defense or other right that the Borrower may have at
any time against a beneficiary named in a Letter of Credit, any transferee of any Letter of Credit
(or any Person for whom any such transferee may be acting), the Administrative Agent, the Issuing
Lender, any Lender or other Person, whether in connection with this Agreement, any Letter of
Credit, the transactions contemplated hereby or any unrelated transactions (including any
underlying transaction between the Borrower and the beneficiary named in any such Letter of
Credit);

     (d) Any draft, certificate or any other document presented under the Letter of Credit proving
to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being
untrue or inaccurate in any respect (provided that such draft, certificate or other
document appears on its face to comply with the terms of such Letter of Credit), any errors,
omissions, interruptions or delays in transmission or delivery of any messages, by mail, telecopier
or otherwise, or any errors in translation or in interpretation of technical terms;

     (e) Any defense based upon the failure of any drawing under a Letter of Credit to conform to
the terms of the Letter of Credit (provided that any draft, certificate or other document
presented pursuant to such Letter of Credit appears on its face to comply with the terms thereof),
any nonapplication or misapplication by the beneficiary or any transferee of the proceeds of such
drawing or any other act or omission of such beneficiary or transferee in connection with such
Letter of Credit;

     (f) The exchange, release, surrender or impairment of any Collateral or other security for the
Obligations;

     (g) The occurrence of any Default or Event of Default; or

     (h) Any other circumstance or event whatsoever, including, without limitation, any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the
Borrower or a Guarantor.

     Any action taken or omitted to be taken by the Issuing Lender under or in connection with any
Letter of Credit, if taken or omitted in the absence of gross negligence or willful misconduct,
shall be

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binding upon the Borrower and each Lender and shall not create or result in any liability
of the Issuing Lender to the Borrower or any Lender. It is expressly understood and agreed that,
for purposes of determining whether a wrongful payment under a Letter of Credit resulted from the
Issuing Lender’s gross negligence or willful misconduct, (i) the Issuing Lender’s acceptance of
documents that appear on their face to comply with the terms of such Letter of Credit, without
responsibility for further investigation, regardless of any notice or information to the contrary,
(ii) the Issuing Lender’s exclusive reliance on the documents presented to it under such Letter of
Credit as to any and all matters set forth therein, including the amount of any draft presented
under such Letter of Credit, whether or not the amount due to the beneficiary thereunder equals the
amount of such draft and whether or not any document presented pursuant to such Letter of Credit
proves to be insufficient in any respect (so long as such document appears on its face to comply
with the terms of such Letter of Credit), and whether or not any other statement or any other
document presented pursuant to such Letter of Credit proves to be forged or invalid or any
statement therein proves to be inaccurate or untrue in any respect whatsoever, and (iii) any
noncompliance in any immaterial respect of the documents presented under such Letter of Credit with
the terms thereof shall, in each case, be deemed not to constitute gross negligence or willful
misconduct of the Issuing Lender.

     3.8 Cash Collateral Account. At any time and from time to time (i) after the
occurrence and during the continuance of an Event of Default, the Administrative Agent may, and at
the direction or with the consent of the Required Lenders shall, require the Borrower to deliver to
the Administrative Agent such additional amount of cash as is equal to 105% of the aggregate Stated
Amount of all Letters of Credit at any time outstanding (whether or not any beneficiary under any
Letter of Credit shall have drawn or be entitled at such time to draw thereunder) and (ii) in the
event of a prepayment under Section 2.6(b) or Section 2.6(e), the Administrative Agent will retain
such amount as may then be required to be retained, such amounts in each case under clauses (i) and
(ii) above to be held by the Administrative Agent in a cash collateral account (the “Cash
Collateral Account”). The Borrower hereby grants to the Administrative Agent, for the benefit
of the Issuing Lender and the Lenders, a Lien upon and security interest in the Cash Collateral
Account and all amounts held therein from time to time as security for Letter of Credit Exposure,
and for application to the Borrower’s Reimbursement Obligations as and when the same shall arise.
The Administrative Agent shall have exclusive dominion and control, including the exclusive right
of withdrawal, over such account. Other than any interest on the investment of such amounts in
Cash Equivalents, which investments shall be made at the direction of the Borrower (unless a
Default or Event of Default shall have occurred and be continuing, in which case the determination
as to investments shall be made at the option and in the discretion of the Administrative Agent),
amounts in the Cash Collateral Account shall not bear interest. Interest and profits, if any, on
such investments shall accumulate in such account. In the event of a drawing, and subsequent
payment by the Issuing Lender, under any Letter of Credit at any time during which any amounts are
held in the Cash Collateral Account, the Administrative Agent will deliver to the Issuing Lender an
amount equal to the Reimbursement Obligation created as a result of such payment (or, if the
amounts so held are less than such Reimbursement Obligation, all of such amounts) to reimburse the
Issuing Lender therefor. Any amounts remaining in the Cash Collateral Account (including interest)
after the expiration of all Letters of Credit and reimbursement in full of the Issuing Lender for
all of its obligations thereunder shall be held by the Administrative Agent, for the benefit of the
Borrower, to be applied against the Obligations in such order and manner as the Administrative
Agent may direct. If the Borrower is required to provide cash collateral pursuant to Section
2.6(b), such amount (including interest), to the extent not applied as aforesaid, shall be returned
to the Borrower on demand, provided that after giving effect to such return (i) the
Aggregate Credit Exposure would not exceed the aggregate Commitments or the Maximum Availability at
such time and (ii) no Default or Event of Default shall have occurred and be continuing at such
time. If the Borrower is required to provide cash collateral as a result of an Event of Default,
such amount (to the
extent not applied as aforesaid) shall be returned to the Borrower within three Business Days
after all Events of Default have been cured or waived.

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     3.9 The Issuing Lender. The Issuing Lender shall act on behalf of the Lenders with
respect to any Letters of Credit issued by it and the documents associated therewith, and the
Issuing Lender shall have all of the rights, benefits and immunities (a) provided to the
Administrative Agent in Article X with respect to any acts taken or omissions suffered by it in
connection with Letters of Credit issued by it or proposed to be issued by it and any documents
pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in
Article X included the Issuing Lender with respect to such acts or omissions, and (b) as
additionally provided herein with respect to the Issuing Lender.

     3.10 Effectiveness. Notwithstanding any termination of the Commitments or repayment
of the Loans, or both, the obligations of the Borrower under this Article 2.20 shall remain in full
force and effect until the Issuing Lender and the Lenders shall have no further obligations to make
any payments or disbursements under any circumstances with respect to any Letter of Credit.

     3.11 Existing Letters of Credit. The Borrowers and the Lenders agree that, as of the
Effective Date, each Existing Letter of Credit issued for the account of any such Borrower (or its
Subsidiary) and set forth on Schedule 3.11 on the Effective Date will be deemed issued for the
account of such Borrower under this Agreement as a Letter of Credit.

ARTICLE IV

CONDITIONS OF BORROWING

     4.1 Conditions of Initial Borrowing. The obligation of each Lender to make Loans in
connection with the initial Borrowing hereunder, and the obligations of the Issuing Lender to issue
Letters of Credit hereunder on the Closing Date, is subject to the satisfaction of the following
conditions precedent:

     (a) The Administrative Agent shall have received the following, each dated as of the Closing
Date (unless otherwise specified) and in such number of copies as the Administrative Agent shall
have requested:

     (i) to the extent requested by any Lender in accordance with Section 2.4(d), a Note or
Notes for such Lender, in each case duly completed in accordance with the provisions of
Section 2.4(d) and executed by the Borrower;

     (ii) the Guaranty, duly completed and executed by each Subsidiary; provided
that no Foreign Subsidiary shall be required to execute the Guaranty to the extent that the
execution of the Guaranty by such Foreign Subsidiary would result in material adverse
federal income tax consequences for the Borrower as determined by whether the execution of
the Guaranty by such Foreign Subsidiary would constitute an investment of earnings in United
States property under Section 956 (or any successor statute) of the Code which would trigger
an increase in the gross income of the Borrower pursuant to Section 951 (or any successor
provision) of the Code without corresponding credits or other offsets;

     (iii) the Security Agreement, duly completed and executed by the Borrower and each
Subsidiary (other than any Foreign Subsidiary), together with any certificates evidencing
the
Capital Stock being pledged thereunder as of the Closing Date and undated assignments
separate from certificate for any such certificate, duly executed in blank;

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     (iv) Assignments and Grants of Security Interests for the federally registered
Intellectual Property referred to in Annexes D, E and F of the Security Agreement, in
substantially the form of Exhibits B and C (as applicable) to the Security Agreement, in
each case duly completed and executed by each applicable Credit Party; and

     (v) the favorable opinions of Akerman Senterfitt LLP, counsel to the Borrower, in form
and substance reasonably satisfactory to the Administrative Agent.

     (b) The Administrative Agent shall have received a certificate, signed by the chief executive
officer or the chief financial officer of the Borrower, dated the Closing Date and in form and
substance reasonably satisfactory to the Administrative Agent, certifying that (i) all
representations and warranties of the Credit Parties contained in this Agreement and the other
Credit Documents are true and correct as of the Closing Date, both immediately before and after
giving effect to the consummation of transactions contemplated hereby, the making of the initial
Loans and the application of the proceeds thereof (except to the extent any such representation or
warranty is expressly stated to have been made as of a specific date, in which case such
representation or warranty shall be true and correct as of such date), (ii) no Default or Event of
Default has occurred and is continuing, both immediately before and after giving effect to the
consummation of transactions contemplated hereby, the making of the initial Loans and the
application of the proceeds thereof, (iii) both immediately before and after giving effect to the
consummation of the transactions contemplated hereby, the making of the initial Loans and the
application of the proceeds thereof, no Material Adverse Effect has occurred since December 31,
2009, other than what previously has been delivered to the Administrative Agent in the Borrower’s
financial statements, and there exists no event, condition or state of facts that could reasonably
be expected to result in, individually or in the aggregate, a Material Adverse Effect, and (iv) all
conditions to the initial extensions of credit hereunder set forth in this Section 4.1 and in
Section 4.2 have been satisfied or waived as required hereunder.

     (c) The Administrative Agent shall have received a certificate of the secretary or an
assistant secretary of each Credit Party executing any Credit Documents as of the Closing Date,
dated the Closing Date and in form and substance reasonably satisfactory to the Administrative
Agent, certifying (i) that attached thereto is a true and complete copy of the articles or
certificate of incorporation, certificate of formation or other organizational document and all
amendments thereto of such Credit Party, certified as of a recent date by the Secretary of State
(or comparable Governmental Authority) of its jurisdiction of organization, and that the same has
not been amended since the date of such certification, (ii) that attached thereto is a true and
complete copy of the bylaws, operating agreement or similar governing document of such Credit
Party, as then in effect and as in effect at all times from the date on which the resolutions
referred to in clause (iii) below were adopted to and including the date of such certificate, and
(iii) that attached thereto is a true and complete copy of resolutions adopted by the board of
directors (or similar governing body) of such Credit Party, authorizing the execution, delivery and
performance of this Agreement and the other Credit Documents to which it is a party, and as to the
incumbency and genuineness of the signature of each officer of such Credit Party executing this
Agreement or any of such other Credit Documents, and attaching all such copies of the documents
described above.

     (d) The Administrative Agent shall have received (i) a certificate as of a recent date of the
good standing of each Credit Party executing any Credit Documents as of the Closing Date, under the
laws of its jurisdiction of organization, from the Secretary of State (or comparable Governmental
Authority) of such jurisdiction, and (ii) a certificate as of a recent date of the qualification of
each Credit Party to conduct business as a foreign corporation in such jurisdictions as the
Administrative Agent may
have reasonably requested, from the Secretary of State (or comparable Governmental Authority)
of such jurisdiction.

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     (e) All approvals, permits and consents of any Governmental Authorities or other Persons
required in connection with the execution and delivery of this Agreement, the other Credit
Documents and the consummation of the transactions contemplated hereby shall have been obtained,
without the imposition of conditions that are not acceptable to the Administrative Agent, and all
related filings, if any, shall have been made, and all such approvals, permits, consents and
filings shall be in full force and effect and the Administrative Agent shall have received such
copies thereof as it shall have reasonably requested; all applicable waiting periods shall have
expired without any adverse action being taken or threatened by any Governmental Authority having
jurisdiction; and no action, proceeding, investigation, regulation or legislation shall have been
instituted, threatened or proposed before, and no order, injunction or decree shall have been
entered by, any court or other Governmental Authority, in each case to enjoin, restrain or
prohibit, to obtain substantial damages in respect of, or to impose materially adverse conditions
upon, this Agreement, any of the other Credit Documents or the consummation of the transactions
contemplated hereby or that could reasonably be expected to have, individually or in the aggregate,
a Material Adverse Effect.

     (f) Concurrently with the making of the initial Loans hereunder, (i) all principal, interest
and other amounts outstanding under Swisher International, Inc.’s and HB Service, LLC’s (each a
Subsidiary of the Borrower) existing senior credit agreement with Wells Fargo Bank, National
Association (the “Existing Senior Credit Facilities”), shall be repaid and satisfied in
full and all guarantees relating thereto extinguished, and (ii) all commitments to extend credit
under the agreements and instruments relating to the Existing Senior Credit Facilities shall be
terminated.

     (g) The Administrative Agent shall have received certified reports from an independent search
service satisfactory to it listing any judgment or tax lien filing or Uniform Commercial Code
financing statement that names the Borrower or any of the Borrower’s Subsidiaries as debtor in any
of the jurisdictions listed beneath its name on Annex B to the Security Agreement, as well as lien
search results with respect to Foreign Subsidiaries in their jurisdiction of organization, as
reasonably requested by the Administrative Agent and the results thereof shall be reasonably
satisfactory to the Administrative Agent.

     (h) The Administrative Agent shall have received evidence in form and substance satisfactory
to it that all filings, recordings, registrations and other actions (including, without limitation,
the filing of duly completed UCC-1 financing statements in each jurisdiction listed on Annex A to
the Security Agreement) necessary to perfect the Liens created by the Security Documents shall have
been completed, or arrangements satisfactory to the Administrative Agent for the completion thereof
shall have been made.

     (i) Since December 31, 2009, both immediately before and after giving effect to the
consummation of the transactions contemplated hereby, there shall not have occurred (i) a Material
Adverse Effect, other than what previously has been delivered to the Administrative Agent in the
Borrower’s financial statements, or (ii) any event, condition or state of facts that could
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

     (j) The Borrower shall have paid (i) to the Arranger and Wells Fargo, the fees required
pursuant to Section 2.9 to be paid to them on the Closing Date, in the amounts due and payable on
the Closing Date as required by the terms thereof, and (ii) all other fees and reasonable expenses
of the Administrative Agent and the Lenders required hereunder or under any other Credit Document
to be paid on or prior to the Closing Date (including reasonable fees and expenses of counsel) in
connection with this Agreement and the other Credit Documents.

     (k) The Administrative Agent shall have received copies of the draft management prepared
annual financial statements (10-K) of the Borrower and its Subsidiaries, as of the Closing Date,
and a

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certificate from a Financial Officer of the Borrower certifying that such financial
statements, when finalized and delivered by the Borrower pursuant to Section 6.1(b), shall be
substantially and materially in the same form of the draft management prepared annual financial
statements delivered pursuant to this Section 4.1(m) (other than updated for disclosures relating
to recent equity contributions and acquisitions).

     (l) The Administrative Agent shall have received evidence, in form and substance satisfactory
to it, that the Borrower shall have consummated the private placement of equity of the Borrower in
the amount of $60,000,000 announced by the Borrower on or about March 22, 2011 (the “March
Private Placement”) and shall have cash and Cash Equivalents on hand in excess of $90,000,000.

     (m) The Administrative Agent shall have received a draft of the amendment to the 8-K intended
to be filed on or about March 31, 2011, showing on a Pro Forma Basis the consummation of the
acquisition of Choice Environmental Services, Inc. and the related Equity Issuance, all as if such
events had occurred on such date (the “Pro Forma Balance Sheet”), all of which shall be in
form and substance satisfactory to the Administrative Agent.

     (n) The Administrative Agent shall have received evidence in form and substance satisfactory
to it that all of the requirements of Section 6.7 have been satisfied, including receipt of
certificates of insurance evidencing the insurance coverages described on Schedule 5.16 and naming
the Administrative Agent as loss payee or additional insured, as its interests may appear.

     (o) The Administrative Agent shall have received an Account Designation Letter, together with
written instructions from an Authorized Officer of the Borrower, including wire transfer
information, directing the payment of the proceeds of the initial Loans to be made hereunder.

     (p) Each of the Administrative Agent and each Lender shall have received such other documents,
certificates, opinions and instruments in connection with the transactions contemplated hereby as
it shall have reasonably requested.

     4.2 Conditions of All Borrowings. The obligation of each Lender to make any Loans
hereunder, including the initial Loans (but excluding Loans made for the purpose of repaying
Refunded Swingline Loans pursuant to Section 2.2(e) or for the purposes of paying unpaid
Reimbursement Obligations pursuant to Section 3.5), and the obligation of the Issuing Lender to
issue any Letters of Credit hereunder, is subject to the satisfaction of the following conditions
precedent on the relevant Borrowing Date or date of issuance:

     (a) The Administrative Agent shall have received a Notice of Borrowing in accordance with
Section 2.2(b), or (together with the Swingline Lender) a Notice of Swingline Borrowing in
accordance with Section 2.2(d) or (together with the Issuing Lender) a Letter of Credit Notice in
accordance with Section 3.2, as applicable;

     (b) Each of the representations and warranties contained in Article 4.2 and in the other
Credit Documents qualified as to materiality shall be true and correct and those not so qualified
shall be true and correct in all material respects, in each case as of such Borrowing Date
(including the Closing Date, in the case of the initial Loans made hereunder) or date of issuance
of a Letter of Credit with the same effect as if made on and as of such date, both immediately
before and after giving effect to the Loans to be made or Letter of Credit to be issued on such
date (except to the extent any such
representation or warranty is expressly stated to have been made as of a specific date, in
which case such representation or warranty shall be true and correct as of such date);

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     (c) No Default or Event of Default shall have occurred and be continuing on such date, both
immediately before and after giving effect to the Loans to be made or Letter of Credit to be issued
on such date; and

     (d) The Borrower shall have satisfied the conditions precedent set forth on Schedule 4.2
hereof to the reasonable satisfaction of the Administrative Agent, or such conditions precedent
shall have been waived by the Administrative Agent, prior to any Loan or the issuance of any Letter
of Credit that, after giving effect thereto, would cause the Aggregate Credit Exposure to exceed
$32,500,000.

Each giving of a Notice of Borrowing, a Notice of Swingline Borrowing or a Letter of Credit Notice,
and the consummation of each Borrowing or issuance of a Letter of Credit, shall be deemed to
constitute a representation by the Borrower that the statements contained in Sections 4.2(b) and
4.2(c) are true, both as of the date of such notice or request and as of the relevant Borrowing
Date or date of issuance.

ARTICLE V

REPRESENTATIONS AND WARRANTIES

     To induce the Administrative Agent, the Issuing Lender and the Lenders to enter into this
Agreement and to induce the Lenders to extend the credit contemplated hereby and the Issuing Lender
to issue Letters of Credit, the Borrower represents and warrants to the Administrative Agent, the
Issuing Lender and the Lenders as follows:

     5.1 Corporate Organization and Power. Each Credit Party (a) (i) is a corporation or a
limited liability company duly organized or formed, and (ii) validly existing and in good standing
under the laws of the jurisdiction of its incorporation or formation, as the case may be, except in
the case of this clause (ii) as to any Subsidiary that is not a Material Subsidiary, as could not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; (b) is
duly qualified or licensed to do business and is in good standing in every other jurisdiction where
the nature of its business or its properties makes such qualification or licensing necessary
(except where the failure to be so qualified or licensed could not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect); (c) has full corporate or limited
liability company power and authority to execute, deliver and perform the Credit Documents to which
it is or will be a party, to own and hold its property and to engage in its business as presently
conducted, and (d) has all governmental licenses, permits, franchises, certificates, inspections,
authorizations, consents and approvals required to carry on its business as it is now being
conducted (except where the failure to have such governmental authorization could not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect).

     5.2 Corporate Authority: No Conflict With Other Instruments or Law. The execution,
delivery and performance of this Agreement and the other Credit Documents and the consummation of
the transactions contemplated hereby and thereby (a) are within the corporate or limited liability
company power and authority of each Credit Party (to the extent such Credit Party is a party
thereto), (b) have been duly authorized by all necessary corporate or limited liability company
action on the part of each Credit Party, (c) do not and will not violate any provision of, or
result in a breach of or default under, or require the waiver (not already obtained) of any
provision of or the consent (not already given) of any Person under the terms of (i) any Credit
Party’s articles or certificate of incorporation or formation, its bylaws or operating agreement,
or other applicable formation or organizational documents, or (ii) any indenture, mortgage, deed of
trust, loan or credit agreement or other agreement or instrument to which any Credit
Party is a party or by which it is bound or to which any of its properties are subject (other
than, in the case of this clause (ii), that could not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect), (d) will not violate or constitute a default under
any Requirement of Law, and

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(e) will not result in the creation, imposition, or acceleration of any
indebtedness or tax or any Lien that is not a Permitted Lien of any nature upon, or with respect
to, any Credit Party or any of their properties.

     5.3 Due Execution and Delivery. This Agreement and the other Credit Documents to
which any Credit Party is a party have been duly executed and delivered by such Credit Party.

     5.4 Enforceability. This Agreement and the other Credit Documents to which any Credit
Party is a party constitute the legal, valid and binding obligations of such Credit Party,
enforceable against such Credit Party in accordance with their terms, except as enforcement may be
limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws, statutes or
rules of general application affecting the enforcement of creditor’s rights or general principles
of equity.

     5.5 Governmental Approval. The execution, delivery and performance by the Credit
Parties of this Agreement and the other Credit Documents to which any such Credit Party is a party
and the transactions contemplated hereby and thereby do not require any authorization, exemption,
consent or approval of, notice to, or declaration or filing with, any Governmental Authority other
than those obtained on or before the Closing Date (other than those, if not obtained, that could
not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect).

     5.6 Margin Stock. No Credit Party is engaged principally or as one of its important
activities in the business of extending credit for the purpose of purchasing or carrying margin
stock (within the meaning of Regulation T, U or X of the Board of Governors of the Federal Reserve
System). The execution, delivery and performance of this Agreement and the use of the proceeds of
the Loan or any extension of credit hereunder, do not and will not constitute a violation of such
Regulations.

     5.7 Investment Company. No Credit Party is an “investment company” or a company
“controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940,
as amended.

     5.8 Taxes. No Credit Party is delinquent in the payment of any taxes that have been
levied or assessed by any Governmental Authority against it or its assets unless (a) such tax is
being contested in good faith by proper proceedings and adequate reserves satisfactory to the
Administrative Agent have been established and maintained with respect thereto or (b) such
delinquency could not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect. Each Credit Party has timely filed all tax returns that are required by law to be
filed, and has paid all taxes shown on said returns to be payable by such Credit Party and all
other assessments or fees levied upon it or upon its properties to the extent that such taxes,
assessments or fees have become due, and if not due, such taxes have been adequately provided for
and sufficient reserves therefor established on its books of account, in each case other than could
not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
Such returns accurately reflect in all material respects all liability for taxes of the Credit
Parties for the periods covered thereby. No controversy in respect of any Credit Party’s income
taxes is pending or, to the Knowledge of the Borrower, threatened, that could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

     5.9 Litigation. Except as set forth on Schedule 5.9, there is no judgment, injunction
or similar order or decree which, and no action, suit, claim, investigation or proceeding pending
or, to the Knowledge of the Borrower, threatened against or affecting any Credit Party before any
court, commission, panel, board, bureau, arbitrator or any Governmental Authority which (in any one
case or in
the aggregate, if determined adversely to the interests of the applicable Credit Party), (a)
is reasonably likely to have, individually or in the aggregate, a Material Adverse Effect, or (b)
affects the validity or enforceability of this Agreement or any of the other Credit Documents.

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     5.10 Financial Statements; Solvency.

     (a) The Borrower has delivered to the Administrative Agent and the Lenders the management
prepared unaudited consolidated balance sheets of the Borrower and its Subsidiaries as of December
31, 2010 with the related statements of income, cash flows and stockholders’ equity for the fiscal
years then ended. Such financial statements have been prepared in accordance with GAAP (subject,
with respect to the unaudited financial statements, to the absence of notes required by GAAP and to
normal year-end adjustments) contain no material misstatement or omission and fairly present the
financial position, assets and liabilities of the Borrower and its Subsidiaries for the respective
periods then ended.

     (b) The Borrower and its Subsidiaries, taken as a whole, are Solvent.

     (c) Set forth on Schedule 5.10(c) is a list of all note receivables of the Borrower and its
Subsidiaries, including all notes from franchisees and former franchisee receivables (each
indicated as such), outstanding as of the Closing Date, and including the outstanding balance of
each such note receivable.

     (d) Neither (i) the board of directors of any Credit Party, a committee thereof or an
authorized officer of any Credit Party has concluded that any financial statement previously
furnished to the Administrative Agent pursuant to or in connection with this Agreement should no
longer be relied upon because of an error, nor (ii) has any Credit Party been advised by its
auditors that a previously issued audit report or interim review cannot be relied on.

     (e) The Pro Forma Balance Sheet reflects adjustments made on a Pro Forma Basis to give effect
to the consummation of the acquisition of Choice Environmental Services, Inc. and the related
Equity Issuance, all as if such events had occurred on the date as of which the Pro Forma Balance
Sheet is prepared. The Pro Forma Balance Sheet has been prepared based on stated and noted (where
material) assumptions made in good faith and having a reasonable basis set forth therein, and
presents fairly in all material respects the consolidated financial condition of the Borrower and
its Subsidiaries on an unaudited Pro Forma Basis as of the date set forth therein after giving
effect to the consummation of the transactions described above.

     (f) The Borrower has prepared, and has heretofore furnished to the Administrative Agent a copy
of, budgeted consolidated balance sheets and statements of income and cash flows of the Borrower
and its Subsidiaries, consisting of balance sheets and statements of income and cash flows prepared
by the Borrower through fiscal year 2011, on a quarterly basis (the “Projections”). In the
good faith opinion of management of the Borrower, the assumptions used in the preparation of the
Projections were fair, complete and reasonable when made and continue to be fair, complete and
reasonable as of the date hereof. The Projections have been prepared in good faith by the
executive and financial personnel of the Borrower, are complete and represent a reasonable estimate
of the future performance and financial condition of the Borrower and its Subsidiaries, subject to
the uncertainties and approximations inherent in any projections.

     5.11 No Material Adverse Effect. There has been no Material Adverse Effect since
December 31, 2009 other than what previously has been disclosed in writing to the Administrative
Agent prior to the
Closing Date, and there exists no event, condition or state of facts that could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

     5.12 Compliance with Laws. To the Knowledge of the Borrower, each Credit Party has
timely filed all material reports, documents and other materials required to be filed by it under
all applicable

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Requirements of Law with any Governmental Authority, has retained all material
records and documents required to be retained by it under all applicable Requirements of Law, and
is otherwise in compliance with all applicable Requirements of Law in respect of the conduct of its
business and the ownership and operation of its properties, except in each case to the extent that
the failure to comply therewith, individually or in the aggregate, could not reasonably be expected
to have a Material Adverse Effect.

     5.13 Environmental Compliance. Except as set forth on Schedule 5.13, to the best
Knowledge of the Borrower:

     (a) Except as could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect, (i) no Hazardous Material is or has been generated, used, released,
treated, disposed of or stored, or otherwise located, in, on or under any property owned, leased or
operated by a Credit Party or any portion thereof except in commercially reasonable quantities as a
consumer and generator thereof subject to compliance with applicable laws, and no part of the
property owned, leased or operated by a Credit Party (now or in the past), including without
limitation the soil and groundwater located thereon and thereunder, has been contaminated by any
Hazardous Material; (ii) no improvements on the property owned, leased or operated by a Credit
Party contain any asbestos or substances containing asbestos; and (iii) none of the property owned,
leased or operated by a Credit Party has been the subject of any remedial action pursuant to any
Environmental Law.

     (b) None of the property currently owned, leased or operated by a Credit Party has, pursuant
to any Environmental Law, been placed on the “National Priorities List” or “CERCLIS List” (or any
similar federal, state or local list) listing sites with environmental contamination, or, except as
could not reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect, has any property previously (but not currently) owned, leased or operated by a Credit Party
been so placed.

     (c) There are no underground storage tanks situated on the property owned, leased or operated
by any Credit Party, except as could not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect.

     (d) Except as could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect, all activities and operations of each Credit Party meet all requirements
of all applicable Environmental Laws, no Credit Party has violated any Environmental Law in the
past, and none of the property owned, leased or operated by a Credit Party has ever been the site
of a violation of any Environmental Law.

     (e) Except as could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect, no Credit Party has sent a Hazardous Material to a site which, pursuant to
any Environmental Law, (i) has been placed on the “National Priorities List” or “CERCLIS List” (or
any similar federal, state or local list) listing sites with environmental contamination, or (ii)
is subject to, or the source of, a claim, an administrative order or other request by any
Governmental Authority to take “response,” “removal,” “corrective” or “remedial” action, as defined
in any Environmental Law, or pay for or contribute to the costs of cleaning up the site.

     (f) Except as could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect, no Credit Party is involved in any suit or proceeding and has not received
any
notice from any Governmental Authority or other third party with respect to a release or
threat of release of any Hazardous Material, or violation or alleged violation of any Environmental
Law, and has not received notice of any claim from any person or entity relating to property damage
or to personal injuries from exposure to any Hazardous Material.

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     (g) Each Credit Party has timely filed all material reports required to be filed, has acquired
all material necessary certificates, approvals and permits, and has generated and maintained all
material documentation and records required under all Environmental Laws.

     5.14 Ownership of Properties. Each Credit Party (i) has good and marketable title to
all real property owned respectively by it, (ii) holds interests as lessee under valid leases in
full force and effect with respect to all material leased real and personal property used in
connection with its business, and (iii) has good title to all of its other material properties and
assets reflected in the financial statements referred to in Section 5.10 (except as sold or
otherwise disposed of since the date thereof in the ordinary course of business or otherwise
permitted hereunder), in each case free and clear of all Liens other than Permitted Liens.
Schedule 5.14 lists, as of the Closing Date, all Realty of the Credit Parties, indicating in each
case the identity of the landlord, the address of the property, the nature of the use of the
premises and whether such interest is a leasehold or fee ownership interest.

     5.15 Intellectual Property. Each Credit Party owns, or has the legal right to use,
all Intellectual Property necessary for it to conduct its business as currently conducted.
Schedule 5.15 lists, as of the Closing Date, all registered Intellectual Property owned by any
Credit Party. No claim has been asserted in writing or is pending by any Person challenging or
questioning the use of any such Intellectual Property or the validity or effectiveness of any such
Intellectual Property that could reasonably be expected to have, individually or in the aggregate,
a Material Adverse Effect, and to the Knowledge of the Borrower, the use of such Intellectual
Property by the Credit Parties does not infringe on the known rights of any Person.

     5.16 Insurance. Schedule 5.16 sets forth, as of the Closing Date, an accurate and
complete list and a brief description (including the insurer, policy number, type of insurance,
coverage limits, deductibles, expiration dates and any special cancellation conditions) of all
policies of property and casualty, liability (including, but not limited to, product liability),
business interruption, workers’ compensation, keyman life insurance, and other forms of insurance
owned or held by the Credit Parties or pursuant to which any of their respective assets are
insured. The assets, properties and business of the Credit Parties are insured against such
hazards and liabilities, under such coverages and in such amounts, as are customarily maintained by
prudent companies similarly situated and under policies issued by insurers of recognized
responsibility.

     5.17 ERISA.

     (a) Each Credit Party and its ERISA Affiliates is in compliance with the applicable provisions
of ERISA, and each Plan is and has been administered in compliance with all applicable Requirements
of Law, including, without limitation, the applicable provisions of ERISA and the Code, in each
case except where the failure so to comply, individually or in the aggregate, could not reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect. No ERISA Event
that could reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect (i) has occurred within the five-year period prior to the Closing Date, (ii) has occurred
and is continuing, or (iii) to the Knowledge of the Borrower, is reasonably expected to occur with
respect to any Plan. Except as could not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect, no Plan has any Unfunded Pension Liability as of the most
recent annual valuation date applicable thereto,
and no Credit Party or any of its ERISA Affiliates has engaged in a transaction that could be
subject to Section 4069 or 4212(c) of ERISA.

     (b) Except as could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect, no Credit Party or any of its ERISA Affiliates has any outstanding
liability on account of a complete or partial withdrawal from any Multiemployer Plan, and no Credit
Party or any of

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its ERISA Affiliates would become subject to any liability under ERISA if any such
Credit Party or ERISA Affiliate were to withdraw completely from all Multiemployer Plans as of the
most recent valuation date. No Multiemployer Plan is in “reorganization” or is “insolvent” within
the meaning of such terms under ERISA.

     5.18 Full Disclosure. All information heretofore furnished to the Administrative
Agent and the Lenders by each of the Credit Parties for purposes of or in connection with this
Agreement or any transaction contemplated hereby is, and all such information hereafter furnished
to the Administrative Agent and the Lenders by each of the Credit Parties will be, true, accurate
and complete in every material respect or based on reasonable estimates on the date as of which
such information is stated or certified. Each of the Credit Parties has disclosed to the
Administrative Agent in writing any and all facts which materially and adversely affect or may
materially and adversely affect (to the extent any Credit Party can now reasonably foresee), the
business, operations or condition, financial or otherwise, of each of the Credit Parties, or the
ability of each Credit Party to perform its obligations under this Agreement or any of the other
Credit Documents.

     5.19 No Default. No Default or Event of Default under this Agreement has occurred and
is continuing.

     5.20 Subsidiaries. Schedule 5.20 sets forth, as of the Closing Date, (i) all of the
Subsidiaries of the Borrower and (ii) as to each Subsidiary, (x) the number of shares, units or
other interests of each class of Capital Stock outstanding, and the number and effect, if
exercised, of all outstanding options, warrants, rights of conversion or purchase and similar
rights and (y) the direct holders of all such Capital Stock and the number of shares, units,
interests, options, warrants or other purchase rights held by each. All outstanding shares of
Capital Stock of the Borrower and each of its Subsidiaries are duly and validly issued, fully paid
and nonassessable. Except for the shares of Capital Stock and the other equity arrangements
expressly indicated on Schedule 5.20, as of the Closing Date there are no shares of Capital Stock,
warrants, rights, options or other equity securities, or other Capital Stock of any Credit Party
(other than the Borrower) outstanding or reserved for any purpose.

     5.21 Security Documents.

     (a) The provisions of each of the Security Documents other than the Mortgages (whether
executed and delivered prior to or on the Closing Date or thereafter) are and will be effective to
create in favor of the Administrative Agent, for its benefit and the benefit of the Lenders, a
valid and enforceable security interest in and Lien upon all right, title and interest of each
Credit Party that is a party thereto in and to the Collateral purported to be pledged by it
thereunder and described therein, and upon (i) the initial extension of credit hereunder, (ii) the
filing of appropriately completed Uniform Commercial Code financing statements and continuations
thereof in the jurisdictions specified therein, (iii) the filing of appropriately completed
short-form assignments in the U.S. Patent and Trademark Office and the U.S. Copyright Office, as
applicable, and (iv) the possession by the Administrative Agent of any certificates evidencing the
securities pledged thereby, duly endorsed or accompanies by duly executed stock powers, such
security interest and Lien shall constitute a fully perfected and first priority security interest
in and Lien upon such right, title and interest of the applicable Credit Party in and to such
Collateral, to the
extent that such security interest and Lien can be perfected by such filings, actions and
possession subject only to Permitted Liens.

     (b) The provisions of each Mortgage (whether executed and delivered prior to or on the Closing
Date or thereafter) are and will be effective to create in favor of the Administrative Agent, for
its benefit and the benefit of the Lenders, a valid and enforceable security interest in and Lien
upon all right, title and interest of each Credit Party that is a party thereto in and to the
mortgaged premises described

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therein, and upon (i) the initial extension of credit hereunder and
(ii) the filing of the Mortgage in the applicable real property recording office, such security
interest and Lien shall constitute a fully perfected and first priority security interest in and
Lien upon such right, title and interest of such Credit Party in and to such mortgaged premises, in
each case prior and superior to the rights of any other Person and subject only to Permitted Liens.

     5.22 Labor Relations. No Credit Party is engaged in any unfair labor practice within
the meaning of the National Labor Relations Act of 1947, as amended. As of the Closing Date, there
is (i) no unfair labor practice complaint before the National Labor Relations Board, or grievance
or arbitration proceeding arising out of or under any collective bargaining agreement, pending or,
to the Knowledge of the Borrower, threatened, against any Credit Party, (ii) no strike, lock-out,
slowdown, stoppage, walkout or other labor dispute pending or, to the Knowledge of the Borrower,
threatened, against any Credit Party, and (iii) to the Knowledge of the Borrower, no petition for
certification or union election or union organizing activities taking place with respect to any
Credit Party. As of the Closing Date, there are no collective bargaining agreements or
Multiemployer Plans covering the employees of any Credit Party.

     5.23 No Burdensome Restrictions. No Credit Party is a party to any written agreement
or instrument or subject to any other obligations or any charter or corporate restriction or any
provision of any applicable Requirement of Law that, individually or in the aggregate, could
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

     5.24 OFAC; Anti-Terrorism Laws.

     (a) No Credit Party or any Affiliate of any Credit Party (i) is a Sanctioned Person, (ii) has
more than 10% of its assets in Sanctioned Countries, or (iii) derives more than 10% of its
operating income from investments in, or transactions with, Sanctioned Persons or Sanctioned
Countries. No part of the proceeds of any Loan hereunder will be used directly or indirectly to
fund any operations in, finance any investments or activities in or make any payments to, a
Sanctioned Person or a Sanctioned Country.

     (b) Neither the making of the Loans hereunder nor the use of the proceeds thereof will violate
the PATRIOT Act, 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. The Credit Parties are in compliance
in all material respects with the PATRIOT Act.

     5.25 Material Contracts. Except as set forth on Schedule 5.25 and, to the extent
applicable, Section 6.18, as of the Closing Date and after giving effect to the transactions
contemplated hereby, (i) each Material Contract is in full force and effect and is enforceable by
each Credit Party that is a party thereto in accordance with its terms, except as enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting creditors’ rights generally, by general or equitable principles or by principles of good
faith and fair dealing, and (ii) no Credit Party or, to the Knowledge of the Borrower, any other
party thereto is in breach of or default under any Material Contract in any material respect or has
given notice of termination or cancellation of any Material Contract.

ARTICLE VI

AFFIRMATIVE COVENANTS

     The Borrower covenants and agrees that, until the termination of the Commitments, the
termination or expiration of all Letters of Credit and the payment in full in cash of all principal
and

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interest with respect to the Loans and all Reimbursement Obligations together with all fees,
expenses and other amounts then due and owing hereunder:

     6.1 Financial Statements. The Borrower will deliver to the Administrative Agent and
to each Lender:

     (a) Within forty-five (45) days (or, if earlier and if applicable to the Borrower, the
quarterly report deadline under the Exchange Act rules and regulations) after the close of each of
the first three fiscal quarters of each fiscal year of the Borrower, beginning with the fiscal
quarter ending March 31, 2011, a consolidated balance sheet (and consolidating balance sheet
schedule) of the Borrower and its Subsidiaries, on a consolidated basis, as of the close of such
fiscal quarter, and consolidated statements of income and cash flows (and consolidating income
statement schedule) for the Borrower and its Subsidiaries, on a consolidated basis, for the fiscal
quarter then ended and for that portion of the fiscal year then ended, all in reasonable detail
setting forth in comparative form the corresponding figures for the preceding fiscal year, all
prepared in accordance with GAAP applied on a basis consistent with that of the preceding period or
containing disclosure of the effect on the financial position or results of operation of any change
in the application of accounting principles and practices during the period, subject only to audit
and year-end adjustments, and certified by the Borrower’s chief executive officer or chief
financial officer to be true and accurate; provided that the financial statements required
to be delivered pursuant to this Section 6.1(a) may be delivered electronically and, if so
delivered, shall be deemed to have been delivered on the date on which the such information has
been posted on the Borrower’s website on the Internet at http://www.swisherhygiene.com, at
www.sec.gov/edgar/searchedgar/webusers.htm or at another website identified in a written notice to
the Administrative Agent by the Borrower;

     (b) Within one hundred twenty (120) days (or, if earlier and if applicable to the Borrower,
the quarterly report deadline under the Exchange Act rules and regulations) after the close of each
fiscal year of the Borrower, beginning with the fiscal year ending December 31, 2010, an audited
consolidated balance sheet (and unaudited consolidating balance sheet schedule) of the Borrower and
its Subsidiaries, on a consolidated basis, as of the close of such fiscal year, and audited
consolidated statements of income and cash flows (and unaudited consolidating income statement
schedule) for the Borrower and its Subsidiaries, on a consolidated basis, for the fiscal year then
ended, including the notes to each, all in reasonable detail setting forth in comparative form the
corresponding figures for the preceding fiscal year, each prepared by an independent certified
public accountant reasonably acceptable to the Administrative Agent, in accordance with GAAP
applied on a basis consistent with that of the preceding year or containing disclosure of the
effect on the financial position or results of operation of any change in the application of
accounting principles and practices during the year, and each accompanied by a report thereon by
such certified public accountant containing an opinion that is not qualified with respect to scope
limitations imposed by the Borrower or any of its Subsidiaries or with respect to accounting
principles followed by such the Borrower or its Subsidiaries not in accordance with GAAP;
provided that the financial statements required to be delivered pursuant to this Section
6.1(b) may be delivered electronically and, if so delivered, shall be deemed to have been delivered
on the date on which the such information has been posted on the Borrower’s website on the Internet
at http://www.swisherhygiene.com, at www.sec.gov/edgar/searchedgar/webusers.htm or at another
website identified in a written notice to the Administrative Agent by the Borrower; and

     (c) Concurrently with the delivery of the financial statements described in subsections (a)
and (b) above, a Compliance Certificate with respect to the period covered by the financial
statements being delivered thereunder together with a Covenant Compliance Worksheet reflecting the
computation of the financial covenants set forth in Article VII as of the last day of the period
covered by such financial statements, executed by the chief executive officer or chief financial
officer of the Borrower.

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     6.2 Other Business and Financial Information. The Borrower will deliver to the
Administrative Agent and each Lender:

     (a) promptly after a Responsible Officer’s learning thereof, (i) the commencement of any
material litigation affecting the Borrower or any of its Subsidiaries, or any of their respective
assets, whether or not the claim is considered by the Borrower or any of its Subsidiaries, as
applicable, to be covered by insurance, and (ii) the institution of any material administrative
proceeding, that in the case of either clause (i) or (ii), would be reasonably likely to have,
individually or in the aggregate, a Material Adverse Effect if decided adversely to the Borrower or
its Subsidiaries;

     (b) As soon as available, but in any event no later than 90 days following the commencement of
each fiscal year, beginning with the 2011 fiscal year, a consolidated operating budget for the
Borrower and its Subsidiaries for such fiscal year (prepared on a quarterly basis), consisting of a
consolidated balance sheet and consolidated statements of income and cash flows, together with a
certificate of a Financial Officer of the Borrower to the effect that such budget has been prepared
in good faith and is a reasonable estimate of the financial position and results of operations of
the Borrower and its Subsidiaries for the period covered thereby; and as soon as available from
time to time thereafter, any modifications or revisions to or restatements of such budget;

     (c) Promptly upon receipt thereof, a copy of the final “management letter” submitted to any
Credit Party by its certified public accountants in connection with each annual, interim or special
audit, and promptly upon completion thereof, any response reports from such Credit Party in respect
thereof;

     (d) immediately after a Responsible Officer’s learning thereof, the occurrence of any Casualty
Event in excess of $1,000,000;

     (e) at least 10 days prior thereto, the relocation of the chief executive office or corporate
headquarters of the Borrower;

     (f) promptly after a Responsible Officer’s learning thereof, any labor dispute to which the
Borrower or any of its Subsidiaries, may become a party, or any strike or walkout relating to any
of their plants or other facilities, in either case that is reasonably likely to have, individually
or in the aggregate, a Material Adverse Effect, and the expiration of any material labor contract
to which the Borrower or any of its Subsidiaries, is a party or by which any of them is bound;

     (g) promptly after the occurrence thereof, any default by any obligor under any note or other
evidence of Indebtedness payable to the Borrower or any of its Subsidiaries, exceeding $1,000,000;

     (h) promptly after the rendition thereof, any judgment in an amount exceeding $1,000,000
rendered against the Borrower or any of its Subsidiaries;

     (i) promptly after a Responsible Officer’s learning thereof, with respect to the Borrower or
any of its Subsidiaries, taken as a whole, any material (i) Environmental Liability, (ii) pending
or threatened in writing judicial or administrative proceeding arising from or in any way
associated with any Environmental Law, (iii) written notice from any Governmental Authority, or by
any other Person, of
possible or alleged noncompliance with or liability under any Environmental Law and any
investigations concerning any violation of any Environmental Law, (iv) judgment, decree, order or
written agreement with a Governmental Authority or other entity arising from or in any way
associated with any Environmental Law, in each case at, on, in, under or in any way affecting the
Realty and all facts, events, or conditions that could lead to any of the foregoing;

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     (j) promptly after a Responsible Officer’s learning thereof, the occurrence of any ERISA Event
resulting in a liability in excess of $500,000, together with (x) a written statement of a
Responsible Officer of the Borrower specifying the details of such ERISA Event and the action that
the applicable Credit Party has taken and proposes to take with respect thereto, (y) a copy of any
notice with respect to such ERISA Event that may be required to be filed with the PBGC and (z) a
copy of any notice delivered by the PBGC to any Credit Party or an ERISA Affiliate with respect to
such ERISA Event; and

     (k) promptly after a Responsible Officer’s learning thereof , the occurrence of any material
default under, or any proposed or threatened in writing termination or cancellation of, any
Material Contract or other material contract or agreement to which any Credit Party is a party, the
default under or termination or cancellation of which could reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect;

     (l) Promptly upon the sending, filing or receipt thereof, copies of (i) all financial
statements, reports, notices and proxy statements that the Borrower shall send or make available
generally to its shareholders, (ii) all regular, periodic and special reports, registration
statements and prospectuses (other than on Form S-8) that any Credit Party shall render to or file
with the Securities and Exchange Commission, the National Association of Securities Dealers, Inc.
or any national securities exchange, and (iii) all press releases and other statements made
available generally by any Credit Party to the public concerning material developments in the
business of the Credit Parties; provided that the items required to be delivered pursuant
to this Section may be delivered electronically and, if so delivered, shall be deemed to have been
delivered on the date on which the such information has been posted on the Borrower’s website on
the Internet at http://www.swisherhygiene.com, at www.sec.gov/edgar/searchedgar/webusers.htm or at another website identified in a written notice to the Administrative Agent
by the Borrower;

     (m) promptly, but in any event within five Business Days after the Borrower becomes aware of
the occurrence of any Default or Event of Default.

     (n) any other matter or event that has, or could reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect, together with a written statement of a Responsible
Officer of the Borrower setting forth the nature and period of existence thereof and the action
that the affected Credit Parties have taken and propose to take with respect thereto; and

     (o) as promptly as reasonably possible, such other information about the business, condition
(financial or otherwise), operations or properties of any Credit Party as the Administrative Agent
or any Lender may from time to time reasonably request.

     6.3 Existence; Franchises; Maintenance of Properties. The Borrower will, and will
cause each of its Subsidiaries to, (i) except as expressly permitted otherwise by Section 8.1,
maintain and preserve in full force and effect its legal existence, its good standing under the
laws of the jurisdiction of its incorporation or formation, as the case may be, (except in the case
of the good standing of any Subsidiary that is not a Material Subsidiary, as could not reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect), and its
qualification to do business in every other jurisdiction where the nature of its business or its
properties makes such qualification necessary (except where the
failure to be so qualified or licensed would not have, individually or in the aggregate, a
Material Adverse Effect), (ii) obtain, maintain and preserve in full force and effect all other
rights, franchises, licenses, permits, certifications, approvals and authorizations required by
Governmental Authorities and necessary to the ownership, occupation or use of its properties or the
conduct of its business, except to the extent the failure to do so could not reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect, and (iii) keep all material
properties that are material to the Borrower and its Subsidiaries,

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taken as a whole, in good
working order and condition (normal wear and tear and damage by casualty excepted) and from time to
time make all necessary repairs to and renewals and replacements of such properties, except to the
extent that any of such properties are obsolete or are being replaced or, in the good faith
judgment of the Borrower, are no longer useful or desirable in the conduct of the business of the
Credit Parties.

     6.4 Compliance with Laws. The Borrower will, and will cause each of its Subsidiaries
to, comply in all respects with all Requirements of Law applicable in respect of the conduct of its
business and the ownership and operation of its properties, except to the extent the failure so to
comply could not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.

     6.5 Payment of Obligations. The Borrower will, and will cause each of its
Subsidiaries to, (i) pay, discharge or otherwise satisfy at or before maturity all liabilities and
obligations as and when due (subject to any applicable subordination, grace and notice provisions),
except to the extent failure to do so could not reasonably be expected to have, individually or in
the aggregate, a Material Adverse Effect, and (ii) pay and discharge all taxes, assessments and
governmental charges or levies imposed upon it, upon its income or profits or upon any of its
properties, prior to the date on which penalties would attach thereto, and all lawful claims that,
in the case of any such tax, assessment, charge, levy or claims, if unpaid, would become a Lien
(other than a Permitted Lien) upon any of the properties of any Credit Party; provided,
however, that no Credit Party shall be required to pay any such tax, assessment, charge,
levy or claim that is being contested in good faith and by proper proceedings and as to which such
Credit Party is maintaining adequate reserves with respect thereto in accordance with GAAP.

     6.6 Maintenance of Books and Records; Inspection. The Borrower will, and will cause
each of its Subsidiaries to, (i) maintain adequate books, accounts and records, in which full, true
and correct entries shall be made of all financial transactions in relation to its business and
properties, and prepare all financial statements required under this Agreement, in each case in
accordance with GAAP and in compliance with the requirements of any Governmental Authority having
jurisdiction over it, and (ii) permit employees or agents of the Administrative Agent or any Lender
to visit and inspect its properties and examine or audit its books, records, working papers and
accounts and make copies and memoranda of them, and to discuss its affairs, finances and accounts
with its officers and directors and, upon notice to the Borrower, the independent public
accountants of the Borrower and its Subsidiaries (and by this provision the Borrower authorizes
such accountants to discuss the finances and affairs of the Borrower and its Subsidiaries), all at
such times and from time to time, upon reasonable notice and during business hours, as may be
reasonably requested.

     6.7 Insurance.

     (a) The Borrower will, and will cause each of its Subsidiaries to, (i) maintain with
financially sound and reputable insurance companies insurance with respect to its assets,
properties and business, against such hazards and liabilities, of such types and in such amounts,
as is customarily maintained by companies in the same or similar businesses similarly situated, and
(ii) deliver certificates of such insurance to the Administrative Agent with standard loss payable
endorsements naming the Administrative Agent as loss payee (on property and casualty policies) and
additional insured (on liability policies) as its interests may appear. Each such policy of
insurance shall contain a clause requiring the
insurer to give not less than 30 days’ prior written notice to the Administrative Agent before
any cancellation of the policies for any reason whatsoever (other than non-payment of premium,
which notice shall be given not less than 10 days prior to cancellation therefor) and shall provide
that any loss shall be payable in accordance with the terms thereof notwithstanding any act of any
Credit Party that might result in the forfeiture of such insurance.

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     (b) The Borrower will, and will cause each of its Subsidiaries to, direct all insurers under
policies of property and casualty insurance on the Collateral to pay all proceeds payable
thereunder directly to the Administrative Agent (other than in respect of any Casualty Event, the
Net Cash Proceeds of which are less than $1,000,000). The Administrative Agent shall hold all such
proceeds for the account of the Credit Parties. So long as no Event of Default has occurred and is
continuing, and subject to Section 2.6(c), the Administrative Agent shall, at the Borrower’s
request, disburse such proceeds as payment for the purpose of replacing or repairing destroyed or
damaged assets, as and when required to be paid and upon presentation of evidence satisfactory to
the Administrative Agent of such required payments and such other documents as the Administrative
Agent may reasonably request. As and to the extent required by Section 2.6(c), and upon and during
the continuance of an Event of Default, the Administrative Agent shall apply such proceeds as a
prepayment of the Loans in the order and manner provided in Section 2.6(e).

     6.8 Name Change. The Borrower shall notify the Administrative Agent at least fifteen
(15) days prior to the effective date of any change of its name or the name of any of its
Subsidiaries, and prior to such effective date, the Borrower or such Person shall have executed any
required amended or new UCC financing statements and other documents necessary to maintain and
continue the perfected security interests of the Administrative Agent, for the benefit of the
Lenders, in all of its collateral and shall have taken such other actions and executed such
documents as the Administrative Agent shall reasonably require.

     6.9 Permitted Acquisitions. In addition to the requirements contained in the
definition of Permitted Acquisition and in the other applicable terms and conditions of this
Agreement, the Borrower shall, with respect to any Permitted Acquisition, comply with, and cause
each other applicable Credit Party to comply with, the following covenants:

     (a) Not less than seven Business Days prior to the consummation of any Permitted Acquisition
(or within 5 days of the end of each fiscal quarter, for any Permitted Acquisition consummated in
such quarter that included an Acquisition Amount of less than $5,000,000 but more than $1,000,000),
the Borrower shall have delivered to the Administrative Agent the following (provided that such
deliveries shall not be required with respect to any Acquisition that includes an Acquisition
Amount of less than $1,000,000):

     (i) a certificate (which for quarterly reporting for Permitted Acquisitions that
include an Acquisition Amount of less than $5,000,000 but more than $1,000,000, may be in
summary form with all other such Permitted Acquisitions), in form and substance reasonably
satisfactory to the Administrative Agent, executed by a Financial Officer of the Borrower
setting forth the Acquisition Amount (including a good faith calculation of any Contingent
Purchase Price Obligations) and further to the effect that, to the best of such Financial
Officer’s knowledge, (w) the consummation of such Permitted Acquisition will not result (or
has not resulted) in a violation of any provision of this Section 6.9 or any other provision
of this Agreement, (x) the requirements set forth in clause (vi) of the definition of
“Permitted Acquisition” will be satisfied (with such covenant calculations to be attached to
the certificate using the Covenant Compliance Worksheet), (y) the Borrower believes in good
faith that it will continue to comply with such financial covenants for a period of one year
following the date of the consummation of such
Permitted Acquisition, and (z) after giving effect to such Permitted Acquisition and
any Borrowings in connection therewith, the Borrower believes in good faith that it will
have sufficient availability under the Commitments to meet its ongoing working capital
requirements;

     (b) At the request of the Administrative Agent, the Borrower shall also promptly provide the
Administrative Agent and the other Lenders such additional information regarding the Permitted

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Acquisition as reasonably requested by the Administrative Agent or any Lender, including without
limitation the following:

     (i) a reasonably detailed description of the material terms of such Permitted
Acquisition (including, without limitation, the purchase price and method and structure of
payment) and of each Person or business that is the subject of such Permitted Acquisition
(each, a “Target”);

     (ii) drafts of the final operative documents related to such Acquisition; and

     (iii) audited historical financial statements of the Target for the two most recent
fiscal years available, prepared by a firm of independent certified public accountants
reasonably acceptable to the Administrative Agent, and (if available) unaudited financial
statements for any interim periods since the most recent fiscal year-end, in each case, if
available, and if not available, the highest quality financial statements or financial data
available to the Borrower;

     (c) Upon the request of the Administrative Agent or any Lender, the Borrower will deliver to
the Administrative Agent or such Lender true and correct copies of the fully executed acquisition
agreement (including schedules and exhibits thereto) and other material documents and closing
papers delivered in connection therewith.

     (d) The consummation of each Permitted Acquisition shall be deemed to be a representation and
warranty by the Borrower that (except as shall have been approved in writing by the Required
Lenders) all conditions thereto set forth in this Section 6.9 and in the description furnished
under Section 6.9(a)(i) have been satisfied, that the same is permitted in accordance with the
terms of this Agreement, and that the matters certified to by the Financial Officer of the Borrower
in the certificate referred to in Section 6.9(a)(i) are, to the best of such Financial Officer’s
knowledge, true and correct in all material respects as of the date such certificate is given,
which representation and warranty shall be deemed to be a representation and warranty as of the
date thereof for all purposes hereunder, including, without limitation, for purposes of Sections
4.2 and 9.1.

     6.10 Creation or Acquisition of Subsidiaries. Subject to the provisions of Section
6.9, the Borrower may from time to time create or acquire new Subsidiaries in connection with
Permitted Acquisitions or otherwise, and the Subsidiaries of the Borrower may create or acquire new
Subsidiaries, provided that:

     (a) Concurrently with (and in any event within 15 Business Days after) the creation or direct
or indirect acquisition by the Borrower thereof, (i) each such new Subsidiary will execute and
deliver to the Administrative Agent (A) a joinder to the Guaranty, pursuant to which such new
Subsidiary shall become a guarantor thereunder and shall guarantee the payment in full of the
Obligations of the Borrower under this Agreement and the other Credit Documents, (B) a joinder to
the Security Agreement, pursuant to which such new Subsidiary shall become a party thereto and
shall grant to the Administrative Agent a first priority Lien upon and security interest in its
accounts receivable, inventory, equipment, general intangibles and other personal property as
Collateral for its obligations under the Guaranty, subject only to Permitted Liens, and (C) unless
the Administrative Agent agrees otherwise in writing, a Mortgage with
respect to any owned or leased interests of such new Subsidiary in real property with a value
in excess of $1,000,000 and the Borrower will, or will cause the parent Subsidiary that owns the
Capital Stock of such new Subsidiary to, execute and deliver to the Administrative Agent an
amendment or supplement to the Security Agreement pursuant to which all of the Capital Stock of
such new Subsidiary shall be pledged to the Administrative Agent, together with the certificates
evidencing such Capital Stock and undated stock powers duly executed in blank;

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     (b) Concurrently with (and in any event within 15 Business Days after) the creation or
acquisition of any new Subsidiary, the Borrower will deliver to the Administrative Agent:

     (i) if such Subsidiary, after giving effect to any Permitted Acquisition contemplated
in connection with such Subsidiary, is reasonably expected to have Consolidated EBITDA in
excess of $5,000,000 for the following 12 months, a written legal opinion of counsel to such
Subsidiary addressed to the Administrative Agent and the Lenders, in form and substance
reasonably satisfactory to the Administrative Agent and its counsel, which shall cover such
matters relating to such Subsidiary and the creation or acquisition thereof incident to the
transactions contemplated by this Agreement and this Section 6.10 and the other Credit
Documents as set forth in the legal opinion of counsel delivered to the Administrative Agent
and the Lenders on the Closing Date;

     (ii) (A) a copy of the certificate of incorporation (or other charter documents) of
such Subsidiary, certified as of a date that is reasonably acceptable to the Administrative
Agent by the applicable Governmental Authority of the jurisdiction of incorporation or
organization of such Subsidiary, (B) a copy of the bylaws or similar organizational document
of such Subsidiary, certified on behalf of such Subsidiary as of a date that is reasonably
acceptable to the Administrative Agent by the corporate secretary or assistant secretary of
such Subsidiary, (C) an original certificate of good standing for such Subsidiary issued by
the applicable Governmental Authority of the jurisdiction of incorporation or organization
of such Subsidiary and (D) copies of the resolutions of the board of directors and, if
required, stockholders or other equity owners of such Subsidiary authorizing the execution,
delivery and performance of the agreements, documents and instruments executed pursuant to
Section 6.10(a), certified on behalf of such Subsidiary by an Authorized Officer of such
Subsidiary, all in form and substance reasonably satisfactory to the Administrative Agent;

     (iii) a report of Uniform Commercial Code financing statement, tax and judgment lien
searches performed against such Subsidiary in each jurisdiction in which such Subsidiary is
incorporated or organized and has a principal place of business, which report shall show no
Liens on its assets (other than Permitted Liens);

     (iv) a certificate of the secretary or an assistant secretary of such Subsidiary as to
the incumbency and signature of the officers executing agreements, documents and instruments
executed pursuant to Section 6.10(a);

     (v) a certificate as to the solvency of such Subsidiary, addressed to the
Administrative Agent and the Lenders, dated as of the date of creation or acquisition of
such Subsidiary and in form and substance reasonably satisfactory to the Administrative
Agent;

     (vi) evidence satisfactory to the Administrative Agent that no Default or Event of
Default shall exist immediately before or after the creation or acquisition of such
Subsidiary or be caused thereby; and

     (vii) a certificate executed by an Authorized Officer of each of the Borrower and such
Subsidiary, which shall constitute a representation and warranty by the Borrower and such
Subsidiary as of the date of the creation or acquisition of such Subsidiary that all
conditions contained in this Agreement to such creation or acquisition have been satisfied,
in form and substance reasonably satisfactory to the Administrative Agent;

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     (c) As promptly as reasonably possible, the Borrower and its Subsidiaries will deliver any
such other documents, certificates and opinions, in form and substance reasonably satisfactory to
the Administrative Agent, as the Administrative Agent or the Required Lenders may reasonably
request in connection therewith and will take such other action as the Administrative Agent may
reasonably request to create in favor of the Administrative Agent, for the benefit of the Lenders,
a perfected security interest in the Collateral being pledged pursuant to the documents described
above; and

     (d) Notwithstanding the foregoing provisions of this Section 6.10, with respect to any Foreign
Subsidiary, (i) the Capital Stock of such Foreign Subsidiary will not be required to be pledged to
the extent (but only to the extent) that (y) such Foreign Subsidiary is a Subsidiary of a Foreign
Subsidiary or (z) such pledge exceeds 65% of the voting Capital Stock of such Foreign Subsidiary,
unless and to the extent that the pledge of greater than 65% of the voting Capital Stock of such
Foreign Subsidiary would not cause any adverse tax consequences to the Borrower, and (ii) such
Foreign Subsidiary will not be required to become a Subsidiary Guarantor if doing so would cause
any adverse tax consequences to the Borrower, determined by whether the execution of the Guaranty
by such Foreign Subsidiary would constitute an investment of earnings in United States property
under Section 956 (or any successor statute) of the Code which would trigger an increase in the
gross income of the Borrower pursuant to Section 951 (or any successor provision) of the Code
without corresponding credits or other offsets.

     (e) Notwithstanding the foregoing, for any Subsidiary created for the sole purpose of making a
Permitted Acquisition and so long as such Subsidiary has no assets, the Borrower shall not be
required to comply with this Section 6.10 until the consummation of such Permitted Acquisition.

     6.11 Banking Relationship. The Borrower and each of its Subsidiaries shall maintain a
significant operating relationship with Wells Fargo during the period for which any Loans or the
Commitment is outstanding, including without limitation, maintaining its primary depository
account, cash management and lockbox services with Wells Fargo.

     6.12 Additional Security. The Borrower will, and will cause each of its Subsidiaries
to, grant to the Administrative Agent, for the benefit of the Lenders, from time to time security
interests, mortgages and other Liens in and upon such of its assets and properties as are not
covered by the Security Documents executed and delivered on the Closing Date or pursuant to Section
6.10 (including, without limitation and within 30 Business Days after any acquisition of any fee or
leasehold interest in any real property value in excess of $1,000,000 by any Credit Party other
than a Foreign Subsidiary, a Mortgage with respect thereto, unless the Administrative Agent agrees
otherwise in writing), and as may be reasonably requested from time to time by the Administrative
Agent or the Required Lenders, but subject to the proviso at the end of Section 6.10. Such
security interests, mortgages and Liens shall be granted pursuant to documentation in form and
substance reasonably satisfactory to the Administrative Agent and shall constitute valid and
perfected security interests and Liens, subject to no Liens other than Permitted Liens. Without
limitation of the foregoing, in connection with the grant of any Mortgage, the Borrower will, and
will cause each applicable Subsidiary to, at the Borrower’s expense, prepare, obtain and deliver to
the Administrative Agent any environmental assessments, appraisals, surveys, title insurance and
other matters or documents as the Administrative Agent may reasonably request or as may be required
under applicable banking laws and regulations.

     6.13 Environmental Laws. The Borrower will, and will cause each of its Subsidiaries
to, (i) comply in all material respects with, and use commercially reasonable efforts to ensure
compliance in all material respects by all tenants and subtenants, if any, with, all applicable
Environmental Laws and obtain and comply in all material respects with and maintain, and use
commercially reasonable efforts to ensure that all tenants and subtenants obtain and comply in all
material respects with and maintain, any and all licenses, approvals, notifications, registrations
or permits required by applicable Environmental

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Laws, except to the extent that the failure to do
so could not reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect, and (ii) conduct and complete all investigations, studies, sampling and testing, and all
remedial, removal and other actions, required under Environmental Laws and promptly comply in all
material respects with all lawful orders and directives of all Governmental Authorities regarding
Environmental Laws, except to the extent that the same are being contested in good faith by
appropriate proceedings or to the extent the failure to conduct or complete any of the foregoing
could not reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect.

     6.14 OFAC, PATRIOT Act Compliance. The Borrower will, and will cause each of its
Subsidiaries to, (i) refrain from doing business in a Sanctioned Country or with a Sanctioned
Person in violation of the economic sanctions of the United States administered by OFAC, and (ii)
provide, to the extent commercially reasonable, such information and take such actions as are
reasonably requested by the Administrative Agent or any Lender in order to assist the
Administrative Agent and the Lenders in maintaining compliance with the PATRIOT Act.

     6.15 Further Assurances. The Borrower will, and will cause each of its Subsidiaries
to, make, execute, endorse, acknowledge and deliver any amendments, modifications or supplements
hereto and restatements hereof and any other agreements, instruments or documents, and take any and
all such other actions, as may from time to time be reasonably requested by the Administrative
Agent or the Required Lenders to perfect and maintain the validity and priority of the Liens
granted pursuant to the Security Documents and to effect, confirm or further assure or protect and
preserve the interests, rights and remedies of the Administrative Agent and the Lenders under this
Agreement and the other Credit Documents.

     6.16 Landlord Agreements. The Borrower shall, and shall cause its Subsidiaries to,
use its best efforts to deliver to the Administrative Agent within 120 days of the Closing Date, a
landlord waiver for the Borrower’s chief executive office and each parcel of leased Realty that
holds Collateral (other than fixtures) with an aggregate book value in excess of $1,000,000, each
of which shall be in form and substance reasonably satisfactory to the Administrative Agent.

     6.17 Delivery of Certain Certificates representing Capital Stock. Within 120 days of
the Closing Date, the Borrower shall have delivered to the Administrative Agent certificates
evidencing 65% the Capital Stock of any Foreign Subsidiaries formed under the laws of Canada and
undated assignments separate from certificate for any such certificate, duly executed in blank; and
in connection with the pledged Capital Stock of any Foreign Subsidiary, and such foreign pledge
agreements, instruments and other documents as shall, in the reasonable judgment of the
Administrative Agent, be required or advisable under applicable foreign Requirements of Law in
order to effect such pledge.

     6.18 Certain Consents. Within 90 days of the Closing Date, the Administrative Agent
shall have received evidence in form and substance reasonably satisfactory to it that the consents
to be obtained in connection with the acquisition by the Borrower of Choice Environmental Services,
Inc. and its Subsidiaries, from Highlands County and Lee County have been obtained, unless such
failure to obtain could not reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect.

ARTICLE VII

FINANCIAL COVENANTS

     The Borrower covenants and agrees that, until the termination of the Commitments, the
termination or expiration of all Letters of Credit and the payment in full in cash of all principal
and

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interest with respect to the Loans and all Reimbursement Obligations together with all fees,
expenses and other amounts then due and owing hereunder:

     7.1 Senior Net Leverage Ratio. The Borrower will not permit the Senior Net Leverage
Ratio, at any time during the periods set forth below, to be greater than the ratio set forth below
opposite the such period:

	 	 	 	 	 
	 	 	Maximum Senior	 
	Period	 	Net Leverage Ratio	 
	fiscal quarter ending March 31, 2011 through the fiscal
quarter ending December 31, 2011
	 	 	4.25:1.0	 
	fiscal quarter ending March 31, 2012 through the fiscal
quarter ending September 30, 2012
	 	 	4.00:1.0	 
	fiscal quarter ending December 31, 2012 and thereafter
	 	 	3.75:1.0	 

; provided that as of August 1, 2012, the foregoing covenant shall be deleted in its
entirety and replaced with the following: The Borrower will not permit the Senior Leverage Ratio,
at any time during the periods set forth below, to be greater than the ratio set forth below
opposite the such period:

	 	 	 	 	 
	 	 	Maximum Senior	 
	Period	 	Leverage Ratio	 
	fiscal quarter ending September 30, 2012
	 	 	4.00:1.0	 
	fiscal quarter ending December 31, 2012 and thereafter
	 	 	3.75:1.0	 

; provided further, that, notwithstanding the foregoing, following a Specified
Availability Increase, the foregoing covenant shall be deleted in its entirety and replaced with
the following: The Borrower will not permit the Senior Leverage Ratio, at any time during the
periods set forth below, to be greater than the ratio set forth below opposite the such period:

	 	 	 	 	 
	 	 	Maximum Senior	 
	Period	 	Leverage Ratio	 
	From the fiscal quarter in which the Specified Availability
Increase occurs through the two subsequent fiscal quarters
	 	 	4.00:1.0	 
	Thereafter
	 	 	3.75:1.0	 

Notwithstanding anything to the contrary herein, in no event shall a revision of the financial
covenant in this Section 7.1 following a Specified Availability Increase result in a higher maximum
Senior Leverage Ratio at any time following such Specified Availability Increase than the maximum
Senior Net Leverage Ratio or maximum Senior Leverage Ratio, as applicable, that would have
otherwise been applicable absent the occurrence of such Specified Availability Increase.

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     7.2 Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage
Ratio, at any time during the periods set forth below, to be greater than the ratio set forth below
opposite such period:

	 	 	 	 	 
	 	 	Maximum Total	 
	Period	 	Net Leverage Ratio	 
	fiscal quarter ending March 31, 2011 through the fiscal
quarter ending December 31, 2011
	 	 	5.00:1.0	 
	fiscal quarter ending March 31, 2012 through the fiscal
quarter ending September 30, 2012
	 	 	4.75:1.0	 
	fiscal quarter ending December 31, 2012 and thereafter
	 	 	4.5:1.0	 

; provided that as of August 1, 2012, the foregoing covenant shall be deleted in its
entirety and replaced with the following: The Borrower will not permit the Total Leverage Ratio,
at any time during the periods set forth below, to be greater than the ratio set forth below
opposite the such period:

	 	 	 	 	 
	 	 	Maximum Total	 
	Period	 	Leverage Ratio	 
	fiscal quarter ending September 30, 2012
	 	 	4.75:1.0	 
	fiscal quarter ending December 31, 2012 and thereafter
	 	 	4.5:1.0	 

; provided that, notwithstanding the foregoing, following a Specified Availability
Increase, the foregoing covenant shall be deleted in its entirety and replaced with the following:
The Borrower will not permit the Total Leverage Ratio, at any time during the periods set forth
below, to be greater than the ratio set forth below opposite the such period:

	 	 	 	 	 
	 	 	Maximum Total	 
	Period	 	Leverage Ratio	 
	From the fiscal quarter in which the Specified Availability
Increase occurs through the two subsequent fiscal quarters
	 	 	4.75:1.0	 
	Thereafter
	 	 	4.5:1.0	 

Notwithstanding anything to the contrary herein, in no event shall a revision of the financial
covenant in this Section 7.2 following a Specified Availability Increase result in a higher maximum
Total Leverage Ratio at any time following such Specified Availability Increase than the maximum
Total Net Leverage Ratio or maximum Total Leverage Ratio, as applicable, that would have otherwise
been applicable absent the occurrence of such Specified Availability Increase.

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     7.3 Consolidated EBITDA. The Borrower will not permit Consolidated EBITDA for any
Reference Period ending as of the last day of any fiscal quarter to be less than the amount set
forth below opposite such fiscal quarter (or opposite the period that includes such fiscal
quarter):

	 	 	 	 	 
	 	 	Minimum Consolidated	 
	Period	 	EBITDA	 
	fiscal quarter ending March 31, 2011
	 	$	4,000,000	 
	fiscal quarter ending June 30, 2011
	 	$	7,000,000	 
	fiscal quarter ending September 30, 2011
	 	$	12,000,000	 
	fiscal quarter ending December 31, 2011
	 	$	18,000,000	 
	fiscal quarter ending March 31, 2012 and each
fiscal quarter thereafter
	 	$	22,500,000	 

; provided that following a Specified Availability Increase, the foregoing covenant shall
be deleted in its entirety and replaced with the following: The Borrower will not permit
Consolidated EBITDA for any Reference Period ending as of the last day of any fiscal quarter to be
less than 22,500,000.

     7.4 Fixed Charge Coverage Ratio. The Borrower will not permit the Fixed Charge
Coverage Ratio as of the last day of any fiscal quarter to be less than the ratio set forth below
opposite such fiscal quarter (or opposite the period that includes such fiscal quarter):

	 	 	 	 	 
	 	 	Minimum Fixed	 
	 	 	Coverage Charge	 
	Period	 	Ratio	 
	fiscal quarter ending September 30, 2011 through
the fiscal quarter ending December 31, 2011
	 	 	1.25:1.0	 
	fiscal quarter ending March 31, 2012 and thereafter
	 	 	1.50:1.0	 

     7.5 Unencumbered Liquidity to Current Maturity of Convertible Seller Notes. The
Borrower will not permit the ratio of (i) Unencumbered Liquidity as of the last day of any fiscal
quarter to (ii) the aggregate of all scheduled payments on Convertible Seller Notes scheduled to be
made in the next 6 months following such day, to be less than the 1.0 to 1.0.

     7.6 Minimum Unencumbered Liquidity. The Borrower will not permit, at any time,
Unencumbered Liquidity to be less than 15,000,000; provided that following a Specified
Availability Increase, the Borrower will not permit, at any time, Unencumbered Liquidity to be less
than 20,000,000.

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ARTICLE VIII

NEGATIVE COVENANTS

     The Borrower covenants and agrees that, until the termination of the Commitments, the
termination or expiration of all Letters of Credit and the payment in full in cash of all principal
and interest with respect to the Loans and all Reimbursement Obligations together with all fees,
expenses and other amounts then due and owing hereunder:

     8.1 Merger; Consolidation. The Borrower will not, and will not permit or cause any of
its Subsidiaries to, liquidate, wind up or dissolve, or enter into any consolidation, merger or
other combination, or agree to do any of the foregoing; provided, however, that:

     (i) any Subsidiary of the Borrower may merge or consolidate with, or be liquidated
into, (y) the Borrower (so long as the Borrower is the surviving or continuing entity) or
(z) any other Subsidiary of the Borrower, (subject to the limitations on outstanding
Investments in non-Wholly Owned Subsidiaries and so long as, if either constituent entity is
a Subsidiary Guarantor, the surviving or continuing entity is a Subsidiary Guarantor), in
each case, so long as no Default or Event of Default has occurred and is continuing or would
result therefrom;

     (ii) any Subsidiary of the Borrower may merge or consolidate with another Person (other
than another Credit Party and subject to the limitations on outstanding Investments in
non-Wholly Owned Subsidiaries), so long as (x) if such Subsidiary is a Subsidiary Guarantor,
the surviving entity is a Subsidiary Guarantor, (y) such merger or consolidation constitutes
a Permitted Acquisition and the applicable conditions and requirements of Sections 6.9 and
6.10 are satisfied, and (z) no Default or Event of Default has occurred and is continuing or
would result therefrom;

     (iii) the Borrower may merge or consolidate with another Person (other than another
Credit Party), so long as (x) the Borrower is the surviving entity, (y) such merger or
consolidation constitutes a Permitted Acquisition and the applicable conditions and
requirements of Sections 6.9 and 6.10 are satisfied, and (z) no Default or Event of Default
has occurred and is continuing or would result therefrom; and

     (iv) to the extent not otherwise permitted under the foregoing clauses, (i) any
Subsidiary that has sold, transferred or otherwise disposed of all or substantially all of
its assets in connection with an Asset Disposition permitted under this Agreement and no
longer conducts any active trade or business may be liquidated, wound up and dissolved, (ii)
any Subsidiary that is not a Material Subsidiary may be liquidated, wound up and dissolved
at any time, in each case so long as no Default or Event of Default has occurred and is
continuing or would result therefrom.

     8.2 Indebtedness. The Borrower will not, and will not permit or cause any of its
Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, without the consent of
the Required Lenders, other than (without duplication):

     (i) Indebtedness of the Credit Parties in favor of the Administrative Agent and the
Lenders incurred under this Agreement and the other Credit Documents;

     (ii) Indebtedness of the Borrower and its Subsidiaries consisting of seller notes
(including Convertible Seller Notes and Contingent Purchase Price Obligations) in connection with (x) Permitted Acquisitions and
(y) acquisitions consummated prior to the Closing Date, and

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including, without duplication, any standby letter of credit obligations of the
Borrower and its Subsidiaries in respect of letters of credit issued on behalf of the
Borrower and its Subsidiaries to provide support for such seller notes, provided
that Borrower shall promptly deliver to the Administrative Agent an updated schedule of such
Indebtedness upon the reasonable request of the Administrative Agent;

     (iii) Indebtedness of the Borrower and its Subsidiaries in favor of California First
Leasing Corporation with respect to the lease of, or sale and leaseback with respect to,
certain equipment, provided that all such Indebtedness does not exceed $500,000;

     (iv) Indebtedness of the Borrower and its Subsidiaries under Hedge Agreements entered
into in connection with this Agreement or in the ordinary course of business to manage
existing or anticipated interest rate or foreign currency risks and not for speculative
purposes;

     (v) purchase money Indebtedness of the Borrower and its Subsidiaries incurred solely to
finance the acquisition, construction or improvement of any equipment, real property or
other fixed assets in the ordinary course of business (or assumed or acquired by the
Borrower and its Subsidiaries in connection with a Permitted Acquisition or other
transaction permitted under this Agreement), (but excluding Capital Lease Obligations), and
any renewals, replacements, refinancings or extensions thereof, provided that all
such Indebtedness shall not exceed $2,500,000 in aggregate principal amount outstanding at
any one time;

     (vi) Capital Lease Obligations (including resulting from sale-leaseback transactions
and other lease programs with respect to trucks or other equipment of the Borrower and its
Subsidiaries) in an amount not to exceed $10,000,000 outstanding at any time;
provided that following a Specified Availability Increase, such Indebtedness shall
not exceed $20,000,000;

     (vii) unsecured loans and advances (A) by the Borrower or any Subsidiary to any
Subsidiary Guarantor, (B) by any Subsidiary to the Borrower, provided in each case
that any such loan or advance is subordinated in right and time of payment to the
Obligations and is evidenced by a promissory note, in form and substance reasonably
satisfactory to the Administrative Agent and pledged to the Administrative Agent pursuant to
the Security Documents;

     (viii) Indebtedness consisting of Guaranty Obligations of the Borrower or any of its
Subsidiaries incurred in the ordinary course of business for the benefit of the Borrower or
a Subsidiary Guarantor, provided that the primary obligation being guaranteed is
permitted by this Agreement;

     (ix) Guaranty Obligations of customers of the Borrower and its Subsidiaries outside of
the ordinary course of business in connection with its customer financing program, the
underlying obligations of which do not exceed $2,500,000 outstanding at any time;

     (x) notwithstanding subsection (v) above, purchase money Indebtedness of the Borrower
or its subsidiaries incurred in order to continue to develop its technology platform, in an
amount not to exceed $2,500,000;

     (xi) Indebtedness of the Borrower and its Subsidiaries arising from the honoring by a
bank or other financial institution of a check, draft or similar instrument inadvertently
(except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary
course of            business, provided that such Indebtedness is extinguished within five Business
Days of its incurrence;

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     (xii) Indebtedness existing as of the date hereof to Royal Palm Mortgage Group LLC
pursuant to the promissory note executed by Swisher International Inc. dated as of August 9,
2010;

     (xiii) Indebtedness that may be deemed to exist pursuant to any performance bond,
surety, statutory appeal or similar obligation entered into or incurred by the Borrower or
any of its Subsidiaries in the ordinary course of business; and

     (xiv) other general unsecured Indebtedness not to exceed $500,000 in the aggregate
outstanding at any time.

     8.3 Liens. The Borrower will not, and will not permit or cause any of its
Subsidiaries to, directly or indirectly, make, create, incur, assume or suffer to exist, any Lien
upon or with respect to any part of its property or assets, whether now owned or hereafter
acquired, or file or permit the filing of, or permit to remain in effect, any financing statement
or other similar notice of any Lien with respect to any such property, asset, income or profits
under the Uniform Commercial Code of any state or under any similar recording or notice statute, or
agree to do any of the foregoing, other than the following (collectively, “Permitted
Liens”):

     (i) Liens in favor of the Administrative Agent and the Lenders created by or otherwise
existing under or in connection with this Agreement and the other Credit Documents;

     (ii) Liens in existence on the Closing Date and set forth on Schedule 8.3, and any
extensions, renewals or replacements thereof; provided that any such extension,
renewal or replacement Lien shall be limited to all or a part of the property that secured
the Lien so extended, renewed or replaced (plus any improvements on such property) and shall
secure only those obligations that it secures on the date hereof (and any renewals,
replacements, refinancings or extensions of such obligations that do not increase the
outstanding principal amount thereof);

     (iii) Liens imposed by law, such as Liens of carriers, warehousemen, mechanics,
materialmen and landlords, incurred in the ordinary course of business for sums not
constituting borrowed money that are not overdue for a period of more than 30 days (or the
underlying obligations of which do not exceed $250,000) or that are being contested in good
faith by appropriate proceedings and for which adequate reserves have been established in
accordance with GAAP (if so required);

     (iv) Liens (other than any Lien imposed by ERISA, the creation or incurrence of which
would result in an Event of Default under Section 9.1(j)) incurred in the ordinary course of
business in connection with worker’s compensation, unemployment insurance or other forms of
governmental insurance or benefits, or to secure the performance of letters of credit, bids,
tenders, statutory obligations, surety and appeal bonds, leases, public or statutory
obligations, government contracts and other similar obligations (other than obligations for
borrowed money) entered into in the ordinary course of business provided that all such liens
in the aggregate have no reasonable likelihood of causing a Material Adverse Effect;

     (v) Liens for current taxes, assessments or other governmental charges or statutory
obligations that are not delinquent or remain payable without any material penalty or that
are being contested in good faith and with due diligence by appropriate proceedings, and for
which adequate reserves have been established in accordance with GAAP (if so required),
provided that all such liens in the aggregate have no reasonable likelihood of causing a
Material Adverse Effect;

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     (vi) Liens of judgments, execution, attachment or similar process which will not result
or have not yet resulted in the occurrence of an Event of Default as set forth in Section
9.1(h) hereof;

     (vii) with respect to any Realty occupied by the Borrower or any of its Subsidiaries,
(a) all easements, rights of way, reservations, licenses, encroachments, variations and
similar restrictions, charges and encumbrances on title that do not secure monetary
obligations and do not materially impair the use of such property for its intended purposes
or the value thereof, and (b) any other Lien or exception to coverage described in mortgagee
policies of title insurance issued in favor of and accepted by the Administrative Agent;

     (viii) Liens securing the purchase money Indebtedness permitted under Section 8.2(v),
provided that (x) any such Lien shall attach to the property being acquired,
constructed or improved with such Indebtedness concurrently with or within 90 days after the
acquisition (or completion of construction or improvement) or the refinancing thereof by the
Borrower or such Subsidiary, (y) the amount of the Indebtedness secured by such Lien shall
not exceed 100% of the cost to the Borrower or such Subsidiary of acquiring, constructing or
improving the property and any other assets then being financed solely by the same financing
source, and (z) any such Lien shall not encumber any other property of the Borrower or any
of its Subsidiaries except assets then being financed solely by the same financing source;

     (ix) Liens of California First Leasing Corporation with respect to the certain
equipment leased therefrom and securing the Indebtedness permitted under Section 8.2(iii);

     (x) Liens arising from the filing (for notice purposes only) of UCC-1 financing
statements (or equivalent filings, registrations or agreements in foreign jurisdictions) in
respect of true leases otherwise permitted hereunder;

     (xi) Liens securing the Indebtedness permitted under Section 8.2(ii) with respect to
the assets of the franchise or other entity or business acquired thereby; provided
that the Indebtedness giving rise to such Liens on accounts and inventory shall not exceed
$2,500,000 at any time without the prior written consent of the Required Lenders (not to be
unreasonably withheld, delayed or conditioned); provided further that all
such Liens (and the underlying Indebtedness) shall be subordinated to the Liens in favor of
the Administrative Agent, in form and substance reasonably acceptable to the Administrative
Agent; and provided further that Borrower shall promptly deliver to the
Administrative Agent an updated schedule of such Liens upon the reasonable request of the
Administrative Agent; and

     (xii) other Liens securing obligations of the Borrower and its Subsidiaries not
exceeding $1,000,000 in aggregate principal amount outstanding at any time.

     8.4 Asset Dispositions. The Borrower will not, and will not permit or cause any of
its Subsidiaries to, directly or indirectly, make or agree to make any Asset Disposition except
for:

     (i) the sale or other disposition of inventory and Cash Equivalents in the ordinary
course of business, the sale, discount or write-off of past due or impaired accounts
receivable for collection purposes (but not for factoring, securitization or other financing
purposes unless otherwise permitted hereunder), and the termination or unwinding of Hedge Agreements
permitted hereunder;

     (ii) the sale or other disposition of assets pursuant to any Casualty Event,;

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     (iii) the sale, lease or other disposition of assets by the Borrower or any Subsidiary
of the Borrower to the Borrower or to a Subsidiary Guarantor, in each case so long as no
Event of Default shall have occurred and be continuing or would result therefrom;

     (iv) the sale, exchange or other disposition in the ordinary course of business of
equipment or other assets that are obsolete or no longer necessary for the operations of the
Borrower and its Subsidiaries with an aggregate net book value on such Person’s balance
sheet of no more than $2,000,000 per year (and an individual net book value for any single
piece of such equipment or asset not to exceed $300,000);

     (v) Equity Issuances;

     (vi) dividends permitted under Section 8.6; and

     (vii) the sale of all or any portion of any franchisee or complementary business for
fair value so long as the proceeds of all such sales do not exceed the lesser of $5,000,000
so long as such businesses, in the aggregate, do not represent greater the 5% of the
revenues of the Borrower and its Subsidiaries for the prior 12 month period.

     8.5 Restricted Investments. The Borrower will not, and will not permit or cause any
of its Subsidiaries to, directly or indirectly, without the consent of the Required Lenders,
purchase, own, invest in or otherwise acquire any Capital Stock, evidence of indebtedness or other
obligation or security or any interest whatsoever in any other Person, or make or permit to exist
any loans, advances or extensions of credit to, or any investment in cash or by delivery of
property in, any other Person, or purchase or otherwise acquire (whether in one or a series of
related transactions) any portion of the assets, business or properties of another Person
(including pursuant to an Acquisition), or create or acquire any Subsidiary, or become a partner or
joint venturer in any partnership or joint venture (collectively, “Investments”), or make a
commitment or otherwise agree to do any of the foregoing, other than:

     (i) Investments consisting of Cash Equivalents;

     (ii) Investments consisting of the extension of trade credit, the creation of prepaid
expenses, the purchase of inventory, supplies, equipment and other assets, and advances to
employees, in each case by the Borrower and its Subsidiaries in the ordinary course of
business;

     (iii) Investments (including equity securities and debt obligations) of the Borrower
and its Subsidiaries received in connection with the bankruptcy or reorganization of
suppliers and customers and in good faith settlement of delinquent obligations of, and other
disputes with, customers and suppliers arising in the ordinary course of business;

     (iv) without duplication, Investments consisting of intercompany Indebtedness permitted
under Section 8.2(vii);

     (v) Investments of the Borrower under Hedge Agreements entered into in connection with
this Agreement or in the ordinary course of business to manage existing or anticipated
interest rate or foreign currency risks and not for speculative purposes;

     (vi) Investments in Subsidiaries organized under the laws of one of the United States,
provided the Borrower and its Subsidiaries, as applicable, comply with the applicable terms
of Section 6.10;

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     (vii) Investments of the Borrower and its Subsidiaries in Foreign Subsidiaries
organized under the laws of Canada made prior to the Closing Date

     (viii) Investments in connection with the creation (but not acquisition) of new Foreign
Subsidiaries organized under the laws of Canada or new Investments in such Subsidiaries
existing as of the Closing Date, provided that in no event shall such Investments,
together with all Investments, when added to the Acquisition Amounts for all Permitted
Acquisitions involving the Capital Stock of Foreign Subsidiaries organized under the laws of
Canada permitted under clause (vii) of the definition of Permitted Acquisitions, shall not
exceed an aggregate amount of $7,500,000 at any time outstanding;

     (ix) Investments in connection with the creation (but not acquisition) of new
Subsidiaries organized under the laws of a jurisdiction outside of the United States (other
than Canada) and Investments made prior to the Closing Date and new Investment in
Subsidiaries existing as of the Closing Date and organized under the laws of a jurisdiction
outside of the United States (other than Canada); provided that in no event shall
such Investments, when added to the Acquisition Amounts for all Permitted Acquisitions
involving the Capital Stock of Foreign Subsidiaries organized under the laws of a
jurisdiction outside of the United States (other than Canada) permitted under clause (vii)
of the definition of Permitted Acquisitions, exceed an aggregate of $15,000,000 at any time
outstanding for all such Investments;

     (x) Permitted Acquisitions;

     (xi) Investments in non-Wholly Owned Subsidiaries; provided that in no event
shall such Investments outstanding at any time exceed an aggregate amount of $5,000,000;

     (xii) Investments consisting of loans and advances to employees, officers and directors
for the payment of travel or other reasonable expenses in the ordinary course of business
not to exceed $500,000 in the aggregate at any time outstanding;

     (xiii) Investments in certain customers of the Borrower and its Subsidiaries in
connection with the customer financing program of the Borrower and its Subsidiaries
provided that in no event shall such investments exceed an aggregate amount of
$5,000,000 outstanding at any time; and

     (xiv) other Investments of the Borrower and its Subsidiaries not otherwise permitted
under this Section 8.5 in an aggregate amount not exceeding $5,000,000 at any time
outstanding for all such Investments, provided that immediately after giving pro
forma effect to such Investment (and the incurrence of any Indebtedness in connection
therewith), the Borrower is in compliance with the financial covenants set forth in Article
VI for the fiscal quarter most recently ended for which financial statements are required to
have been delivered under Section 6.1(a) or 6.1(b).

     8.6 Restricted Payments.

     (a) The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly
or indirectly, declare or make any dividend payment, or make any other distribution of cash,
property or assets, in respect of any of its Capital Stock or any warrants, rights or options to acquire
its Capital Stock, or purchase, redeem, retire or otherwise acquire for value any shares of its
Capital Stock or any warrants, rights or options to acquire its Capital Stock, or set aside funds
for any of the foregoing, except that:

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     (i) the Borrower and any of its Subsidiaries may declare and make dividend payments or
other distributions on a pro rata basis payable solely in its Common Stock;

     (ii) each of the Subsidiaries of the Borrower may make payments to the Borrower and its
Subsidiaries for its proportionate share of the tax liability of the affiliated group of
entities that file consolidated federal income tax returns, provided that such
payments are used to pay taxes; and

     (iii) each Subsidiary of the Borrower may declare and make dividend payments or other
distributions to the Borrower or to another Subsidiary of the Borrower on a pro rata basis,
in each case to the extent not prohibited under applicable Requirements of Law.

     (b) The Borrower will not, and will not permit any of its Subsidiaries to, make any payment in
respect of any Contingent Purchase Price Obligations (whether or not such Contingent Purchase Price
Obligations constitute Indebtedness) unless (i) no Default or Event of Default has occurred and is
continuing or would result therefrom and (ii) immediately after giving effect to such payment, the
Borrower is in compliance with the financial covenants contained in Article VII, such compliance
determined with regard to calculations made on a Pro Forma Basis for the Reference Period most
recently ended, calculated in accordance with GAAP as if such payment had been made on the last day
of such Reference Period, and the Administrative Agent has received a certificate of a Financial
Officer of the Borrower to such effect.

     8.7 Transactions with Affiliates. The Borrower will not, and will not permit or cause
any of its Subsidiaries to, enter into any transaction (including, without limitation, any
purchase, sale, lease or exchange of property or the rendering of any service) with any officer,
director, stockholder or other Affiliate of the Borrower or any of its Subsidiaries, except in the
ordinary course of its business and upon fair and reasonable terms that are no less favorable to it
than it would be obtained in a comparable arm’s length transaction with a Person other than an
Affiliate of the Borrower or any of its Subsidiaries; provided, however, that
nothing contained in this Section 8.7 shall prohibit:

     (i) transactions described on Schedule 8.7 (and any renewals or replacements thereof on
terms not materially more disadvantageous to the applicable Credit Party) or otherwise
expressly permitted under this Agreement;

     (ii) transactions among the Borrower and/or the Subsidiary Guarantors not prohibited
under this Agreement (provided that such transactions shall remain subject to any
other applicable limitations and restrictions set forth in this Agreement);

     (iii) transactions with franchisees or Affiliates pursuant to the reasonable
requirements of the business of such franchisee or Affiliate and on terms substantially no
more favorable to such franchisee or Affiliate than those that such franchisee or Affiliate
would obtain in a comparable arms-length transaction with a Person not an Affiliate;

     (iv) Equity Issuances with respect to the Borrower’s Capital Stock to directors,
officers and employees of the Credit Parties pursuant to employee benefit plans, employment
agreements or other employment arrangements approved by the Board of Directors of the
Borrower; and

     (v) the payment by the Borrower of reasonable compensation and benefits to its
directors, officers and employees.

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     8.8 Sale-Leaseback Transactions. Except as permitted pursuant to Section 8.2(vi), the
Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly,
become or remain liable as lessee or as guarantor or other surety with respect to any lease,
whether an operating lease or a Capital Lease, of any property (whether real, personal or mixed,
and whether now owned or hereafter acquired) (i) that any Credit Party has sold or transferred (or
is to sell or transfer) to a Person that is not a Credit Party or (ii) that any Credit Party
intends to use for substantially the same purpose as any other property that, in connection with
such lease, has been sold or transferred (or is to be sold or transferred) by a Credit Party to
another Person that is not a Credit Party, in each case except for transactions otherwise expressly
permitted under this Agreement.

     8.9 Certain Amendments. The Borrower will not, and will not permit or cause any of
its Subsidiaries to, amend, modify or waive any provision of any Material Contract, its articles or
certificate of incorporation (other than the proposed amendments to the certificate of
incorporation of the Borrower as described in the preliminary proxy statement filed by the Borrower
on March 14, 2011) or formation, bylaws, operating agreement or other applicable formation or
organizational documents, as applicable, the terms of any class or series of its Capital Stock, or
any agreement among the holders of its Capital Stock or any of them, in each case other than in a
manner that could not reasonably be expected to adversely affect the Lenders in any material
respect (provided that the Borrower shall give the Administrative Agent and the Lenders
notice of any material amendment, modification or change, together with copies thereof).

     8.10 Limitation on Certain Restrictions. The Borrower will not, and will not permit
or cause any of its Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to
exist or become effective any restriction or encumbrance on (a) the ability of the Credit Parties
to perform and comply with their respective obligations under the Credit Documents or (b) the
ability of any Subsidiary of the Borrower to make any dividend payment or other distribution in
respect of its Capital Stock, to repay Indebtedness owed to the Borrower or any other Subsidiary,
to make loans or advances to the Borrower or any other Subsidiary, or to transfer any of its assets
or properties to the Borrower or any other Subsidiary, except (in the case of clause (b) above
only) for such restrictions or encumbrances existing under or by reason of (i) this Agreement and
the other Credit Documents, (ii) applicable Requirements of Law, (iii) customary non-assignment
provisions in leases and licenses of real or personal property entered into by the Borrower or any
Subsidiary as lessee or licensee in the ordinary course of business, restricting the assignment or
transfer thereof or of property that is the subject thereof, and (iv) customary restrictions and
conditions contained in any agreement relating to the sale of assets (including Capital Stock of a
Subsidiary) pending such sale, provided that such restrictions and conditions apply only to
the assets being sold and such sale is permitted under this Agreement.

     8.11 No Other Negative Pledges. The Borrower will not, and will not permit or cause
any of its Subsidiaries to, enter into or suffer to exist any agreement or restriction that,
directly or indirectly, prohibits or conditions the creation, incurrence or assumption of any Lien
upon or with respect to any part of its property or assets, whether now owned or hereafter
acquired, or agree to do any of the foregoing, except for such agreements or restrictions existing
under or by reason of (i) this Agreement and the other Credit Documents, (ii) applicable
Requirements of Law, (iii) any agreement or instrument creating a Permitted Lien (but only to the
extent such agreement or restriction applies to the assets subject to such Permitted Lien), (iv)
customary provisions in leases and licenses of real or personal property entered into by the
Borrower or any Subsidiary as lessee or licensee in the ordinary course of business, restricting
the granting of Liens therein or in property that is the subject thereof, and (v) customary
restrictions and conditions contained in any agreement relating to the sale of assets (including
Capital Stock of a Subsidiary) pending such sale, provided that such restrictions and conditions apply
only to the assets being sold and such sale is permitted under this Agreement.

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     8.12 Lines of Business. Without the prior written consent of the Required Lenders (not
to be unreasonably withheld or delayed), the Borrower will not, and will not permit or cause any of
its Subsidiaries to (i) engage in any business other than the business in which it is currently
engaged or a business reasonably related thereto or complementary thereof, or (ii) make any
material change in its business objectives. Such businesses may include, waste brokerage, food
safety, pest control or prevention and related facility services including linen rental and sales.

     8.13 Fiscal Year. The Borrower will not, and will not permit or cause any of its
Subsidiaries to, change its fiscal year or its method of determining fiscal quarters.

     8.14 Accounting Changes. Other than as permitted pursuant to Section 1.2, the
Borrower will not, and will not permit or cause any of its Subsidiaries to, make or permit any
material change in its accounting policies or reporting practices, except as may be required by
GAAP.

     8.15 Change of Control. Without the prior written consent of the Required Lenders,
the Borrower will not cause, or permit to occur, a Change of Control.

ARTICLE IX

EVENTS OF DEFAULT

     9.1 Events of Default. The occurrence of any one or more of the following events
shall constitute an “Event of Default”:

     (a) The Borrower shall fail to pay when due (i) any principal of any Loan or any Reimbursement
Obligations, or (ii) any interest on any Loan, any fee payable under this Agreement or any other
Credit Document, or (except as provided in clause (i) above) any other Obligation (other than any
Obligation under a Hedge Agreement), and (in the case of this clause (ii) only) such failure shall
continue for a period of three Business Days;

     (b) The Borrower or any other Credit Party shall (i) fail to observe, perform or comply with
any condition, covenant or agreement contained in any of Sections 2.14, 6.1, 6.2(n), 6.3(i), 6.9,
6.10 or in Articles VII or VIII or (ii) fail to observe, perform or comply with any condition,
covenant or agreement contained in Section 6.2 (other than Section 6.2(n)) and (in the case of this
clause (ii) only) such failure shall continue unremedied for a period of five Business Days after
the earlier of (y) the date on which a Responsible Officer of the Borrower acquires knowledge
thereof and (z) the date on which written notice thereof is delivered by the Administrative Agent
or any Lender to the Borrower;

     (c) The Borrower or any other Credit Party shall fail to observe, perform or comply with any
condition, covenant or agreement contained in this Agreement or any of the other Credit Documents
other than those enumerated in Sections 9.1(a) and 9.1(b), and such failure (i) by the express
terms of such Credit Document, constitutes an Event of Default, or (ii) shall continue unremedied
for any grace period specifically applicable thereto or, if no grace period is specifically
applicable, for a period of 30 days after the earlier of (y) the date on which a Responsible
Officer of the Borrower acquires actual knowledge thereof and (z) the date on which written notice
thereof is delivered by the Administrative Agent or any Lender to the Borrower; or any default or
event of default shall occur under any Hedge Agreement with a notional amount in excess of $100,000
to which the Borrower and any Hedge Party are parties;

     (d) Any representation or warranty made or deemed made by or on behalf of the Borrower or any
other Credit Party in this Agreement, any of the other Credit Documents or in any certificate,
instrument, report or other document furnished at any time in connection herewith or therewith
shall

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prove to have been incorrect, false or misleading in any material respect as of the time
made, deemed made or furnished;

     (e) The Borrower or any other Credit Party shall (i) fail to pay when due (whether by
scheduled maturity, acceleration or otherwise and after giving effect to any applicable grace
period or notice provisions) (y) any principal of or interest on any Indebtedness (other than the
Indebtedness incurred pursuant to this Agreement or a Hedge Agreement) having an aggregate
principal amount of at least $1,000,000 or (z) any termination or other payment under any Hedge
Agreement covering a notional amount of Indebtedness of at least $1,000,000 or (ii) fail to
observe, perform or comply with any condition, covenant or agreement contained in any agreement or
instrument evidencing or relating to any such Indebtedness, or any other event shall occur or
condition exist in respect thereof, and the effect of such failure, event or condition is to cause,
or permit the holder or holders of such Indebtedness (or a trustee or agent on its or their behalf)
to cause (with or without the giving of notice, lapse of time, or both), without regard to any
subordination terms with respect thereto, such Indebtedness to become due, or to be prepaid,
redeemed, purchased or defeased, prior to its stated maturity;

     (f) The Borrower or any other Credit Party shall (i) file a voluntary petition or commence a
voluntary case seeking liquidation, winding-up, reorganization, dissolution, arrangement,
readjustment of debts or any other relief under any Debtor Relief Law, (ii) consent to the
institution of, or fail to controvert in a timely and appropriate manner, any petition or case of
the type described in Section 9.1(g), (iii) apply for or consent to the appointment of or taking
possession by a custodian, trustee, receiver or similar official for or of itself or all or a
substantial part of its properties or assets, (iv) fail generally, or admit in writing its
inability, to pay its debts generally as they become due, (v) make a general assignment for the
benefit of creditors or (vi) take any corporate action to authorize or approve any of the
foregoing;

     (g) Any involuntary petition or case shall be filed or commenced against the Borrower or any
other Credit Party seeking liquidation, winding-up, reorganization, dissolution, arrangement,
readjustment of debts, the appointment of a custodian, trustee, receiver or similar official for it
or all or a substantial part of its properties or any other relief under any Debtor Relief Law now
or hereafter in effect, and such petition or case shall continue undismissed and unstayed for a
period of 60 days; or an order, judgment or decree approving or ordering any of the foregoing shall
be entered in any such proceeding, and in any such event concerning only non-Material Subsidiaries,
such event reasonably could reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect, and provided further, that no more than three such events
with respect to non-Material Subsidiaries occur during the term of this Agreement;

     (h) Any one or more money judgments, writs or warrants of attachment, executions or similar
processes involving an aggregate amount (to the extent not paid or fully bonded or covered by
insurance as to which the surety or insurer, as the case may be, has the financial ability to
perform and has acknowledged liability in writing) in excess of $1,000,000 shall be entered or
filed against the Borrower or any other Credit Party or any of their respective properties and the
same shall not be paid, dismissed, bonded, vacated, stayed or discharged within a period of 30 days
or in any event later than five days prior to the date of any proposed sale of such property
thereunder;

     (i) Any Security Document to which the Borrower or any other Credit Party is now or hereafter
a party shall for any reason cease to be in full force and effect or cease to be effective to give
the Administrative Agent a valid and perfected security interest in and Lien upon the Collateral
purported to be covered thereby, subject to no Liens other than Permitted Liens, in each case unless any
such cessation occurs in accordance with the terms thereof or is due to any act or failure to act
on the part of the Administrative Agent or any Lender, or the Borrower or any other Credit Party
shall assert any of the

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foregoing; or the Guaranty shall for any reason cease to be in full force
and effect as to any Guarantor, or any Guarantor or any Person acting on its behalf shall deny or
disaffirm such Guarantor’s obligations thereunder;

     (j) Any ERISA Event or any other event or condition shall occur or exist with respect to any
Plan or Multiemployer Plan and, as a result thereof, together with all other ERISA Events and other
events or conditions then existing, any Credit Party and its ERISA Affiliates have incurred, or
could reasonably be expected to incur, liability to any one or more Plans or Multiemployer Plans or
to the PBGC (or to any combination thereof) in excess of $1,000,000;

     (k) Any one or more licenses, permits, accreditations or authorizations of the Borrower or any
other Credit Party shall be suspended, limited or terminated or shall not be renewed, or any other
action shall be taken, by any Governmental Authority in response to any alleged failure by the
Borrower or any other Credit Party to be in compliance with applicable Requirements of Law, and
such action, individually or in the aggregate, has or could reasonably be expected to have a
Material Adverse Effect;

     (l) Any one or more Environmental Claims shall have been asserted against the Borrower or any
other Credit Party (or a reasonable basis shall exist therefor) or the Borrower or any other Credit
Party shall have incurred or could reasonably be expected to incur liability, interruption of
operations or other adverse effects as a result thereof; and such Environmental Claims, liability
or other effect, individually or in the aggregate, has or could reasonably be expected to have a
Material Adverse Effect;

     (m) There shall occur (i) any uninsured damage to, or loss, theft or destruction of, any
Collateral or other assets or properties of the Credit Parties that has or could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect or (ii) any labor
dispute, act of God or other casualty that has or could reasonably be expected to have a Material
Adverse Effect; and

     (n) The Borrower and its Subsidiaries, taken as a whole, cease to be Solvent, or ceases to
conduct its business substantially as now conducted or is enjoined, restrained or in any way
prevented by court order from conducting all or any material part of its business affairs.

     9.2 Remedies: Termination of Commitments, Acceleration, etc. Upon and at any time
after the occurrence and during the continuance of any Event of Default, the Administrative Agent
shall at the direction, or may with the consent, of the Required Lenders, take any or all of the
following actions at the same or different times:

     (a) Declare the Commitments, the Swingline Commitment and the Issuing Lender’s obligation to
issue Letters of Credit to be terminated, whereupon the same shall terminate; provided
that, upon the occurrence of a Bankruptcy Event, the Commitments, the Swingline Commitment and the
Issuing Lender’s obligation to issue Letters of Credit shall automatically be terminated;

     (b) Declare all or any part of the outstanding principal amount of the Loans to be immediately
due and payable, whereupon the principal amount so declared to be immediately due and payable,
together with all interest accrued thereon and all other amounts payable under this Agreement and
the other Credit Documents (but excluding any amounts owing under any Hedge Agreement), shall
become immediately due and payable without presentment, demand, protest, notice of intent to
accelerate or other notice or legal process of any kind, all of which are hereby knowingly and
expressly waived by the Borrower; provided that, upon the occurrence of a Bankruptcy Event,
all of the outstanding principal amount of the Loans and all other amounts described in this Section 9.2(b) shall automatically
become immediately due and payable without presentment, demand, protest, notice of intent to
accelerate or other

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notice or legal process of any kind, all of which are hereby knowingly and
expressly waived by the Borrower;

     (c) Direct the Borrower to deposit (and the Borrower hereby agrees, forthwith upon receipt of
notice of such direction from the Administrative Agent, to deposit) with the Administrative Agent
from time to time such additional amount of cash as is equal to the aggregate Stated Amount of all
Letters of Credit then outstanding (whether or not any beneficiary under any Letter of Credit shall
have drawn or be entitled at such time to draw thereunder), such amount to be held by the
Administrative Agent in the Cash Collateral Account as security for the Letter of Credit Exposure
as described in Section 3.8;

     (d) Appoint or direct the appointment of a receiver for the properties and assets of the
Credit Parties, both to operate and to sell such properties and assets, and the Borrower, for
itself and on behalf of its Subsidiaries, hereby consents to such right and such appointment and
hereby waives any objection the Borrower or any Subsidiary may have thereto or the right to have a
bond or other security posted by the Administrative Agent on behalf of the Lenders, in connection
therewith; and

     (e) Exercise all rights and remedies available to it under this Agreement, the other Credit
Documents and applicable law.

     9.3 Remedies: Set-Off. Upon and at any time after the occurrence and during the
continuance of any Event of Default, each Lender, the Issuing Lender and each of their respective
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted
by applicable law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final, in whatever currency) at any time held and other obligations (in whatever
currency) at any time owing by such Lender, the Issuing Lender or any such Affiliate to or for the
credit or the account of the Borrower against any and all of the obligations of the Borrower now or
hereafter existing under this Agreement or any other Credit Document to such Lender or the Issuing
Lender, irrespective of whether or not such Lender or the Issuing Lender shall have made any demand
under this Agreement or any other Credit Document and although such obligations of the Borrower may
be contingent or unmatured or are owed to a branch or office of such Lender or the Issuing Lender
different from the branch or office holding such deposit or obligated on such indebtedness;
provided, that in the event that any Defaulting Lender shall exercise any such right of
setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for
further application in accordance with the provisions of Section 2.20 and, pending such payment,
shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the
benefit of the Administrative Agent, the Issuing Lender and the Lenders (including the Swingline
Lender), and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a
statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to
which it exercised such right of setoff. The rights of each Lender, the Issuing Lender and their
respective Affiliates under this Section are in addition to other rights and remedies (including
other rights of setoff) that such Lender, the Issuing Lender or their respective Affiliates may
have. Each Lender and the Issuing Lender agrees to notify the Borrower and the Administrative
Agent promptly after any such setoff and application; provided that the failure to give
such notice shall not affect the validity of such setoff and application.

ARTICLE X

THE ADMINISTRATIVE AGENT

     10.1 Appointment and Authority. Each of the Lenders (for purposes of this Article,
references to the Lenders shall also mean the Issuing Lender and the Swingline Lender)hereby
irrevocably appoints Wells Fargo to act on its behalf as the Administrative Agent hereunder and
under the other Credit

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Documents 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 or thereof, together with such actions and powers as are reasonably incidental thereto.
Except as set forth in Section 10.6, the provisions of this Article are solely for the benefit of
the Administrative Agent and the Lenders, and neither the Borrower nor any other Credit Party shall
have rights as a third party beneficiary of any of such provisions.

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

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

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

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

     (c) shall not, except as expressly set forth herein and in the other Credit Documents, have
any duty to disclose, and shall not be liable for the failure to disclose, any information relating
to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving
as the 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 (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 11.5 and 9.2) or (ii) in the absence of
its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to
have knowledge of any Default or Event of Default unless and until notice describing such Default
or Event of Default is given to the Administrative Agent by the Borrower or a Lender.

     The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty or representation made in or in connection with this Agreement or
any other Credit Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or
genuineness of this

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Agreement, any other Credit Document or any other agreement, instrument or
document or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein,
other than to confirm receipt of items expressly required to be delivered to the Administrative
Agent.

     10.4 Reliance by 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 (including any electronic message,
internet or intranet website posting or other distribution) believed by it to be genuine and to
have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent
also may rely upon any statement made to it orally or by telephone and believed by it to have been
made by the proper Person, and shall not incur any liability for relying thereon. In determining
compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of
Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Issuing Lender,
the Administrative Agent may presume that such condition is satisfactory to such Lender or the
Issuing Lender unless the Administrative Agent shall have received notice to the contrary from such
Lender or the Issuing Lender prior to the making of such Loan or the issuance of such Letter of
Credit. 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.

     10.5 Delegation of Duties. The Administrative Agent may perform any and all of its
duties and exercise its rights and powers hereunder or under any other Credit Document by or
through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent
and any such sub-agent may perform any and all of its duties and exercise its rights and powers by
or through their respective Related Parties. The exculpatory provisions of this Article shall
apply to any such sub-agent and to the Related Parties of 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.

     10.6 Resignation of Administrative Agent. The Administrative Agent may at any time
give notice of its resignation to the Lenders and the Borrower. Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, in consultation with the Borrower, to
appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of
any such bank with an office in the United States. If no such successor shall have been so
appointed by the Required Lenders and shall have accepted such appointment within 30 days after the
retiring Administrative Agent gives notice of its resignation, then the retiring Administrative
Agent may, on behalf of the Lenders, appoint a successor Administrative Agent meeting the
qualifications set forth above; provided that if the Administrative Agent shall notify the
Borrower and the Lenders that no qualifying Person has accepted such appointment, then such
resignation shall nonetheless become effective in accordance with such notice and (1) the retiring
Administrative Agent shall be discharged from its duties and obligations hereunder and under the
other Credit Documents (except that in the case of any collateral security held by the
Administrative Agent on behalf of the Lenders under any of the Credit Documents, the retiring
Administrative Agent shall continue to hold such collateral security until such time as a successor
Administrative Agent is appointed) and (2) all payments, communications and determinations provided
to be made by, to or through the Administrative Agent shall instead be made by or to each Lender
directly, until such time as the Required Lenders appoint a successor Administrative Agent as
provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent
hereunder, such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring (or retired) Administrative Agent, and the retiring
Administrative Agent shall be discharged from all of its duties and obligations hereunder or under
the other Credit Documents (if not already discharged therefrom as provided above in this Section).
The fees payable by the Borrower to a successor Administrative Agent shall be the same as those
payable to its predecessor unless otherwise agreed

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between the Borrower and such successor. After
the retiring Administrative Agent’s resignation hereunder and under the other Credit Documents, the
provisions of this Article and Section 11.1 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 the retiring Administrative Agent was
acting as Administrative Agent.

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

     10.8 Collateral and Guaranty Matters.

     (a) The Administrative Agent is hereby authorized on behalf of the Lenders, without the
necessity of any notice to or further consent from the Lenders, from time to time (but without any
obligation) to take any action with respect to the Collateral and the Security Documents that may
be deemed by the Administrative Agent in its discretion to be necessary or advisable to perfect and
maintain perfected the Liens upon the Collateral granted pursuant to the Security Documents.

     (b) The Lenders hereby authorize the Administrative Agent, at its option and in its
discretion, (i) to release any Lien granted to or held by the Administrative Agent upon any
Collateral (A) upon termination of the Commitments, termination, expiration or cash
collateralization of all outstanding Letters of Credit and payment in full of all of the
Obligations (other than Obligations owing to any Hedge Party under or in connection with any Hedge
Agreement required or permitted by this Agreement) then due and payable, (B) constituting property
sold or to be sold or disposed of as part of or in connection with any disposition expressly
permitted hereunder or under any other Credit Document or to which the Required Lenders have
consented in writing or (C) otherwise pursuant to and in accordance with the provisions of any
applicable Credit Document, (ii) to subordinate any Lien on any property granted to or held by the
Administrative Agent under any Credit Document to the holder of any Lien on such property that is
permitted by Section 8.3(vii); and (iii) to release any Guarantor from its obligations under the
Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder.
Upon request by the Administrative Agent at any time, the Lenders will confirm in writing the
Administrative Agent’s authority to release or subordinate its interest in particular types or
items of property, or to release any Guarantor from its obligations under the Guaranty, pursuant to
this Section 10.8(b).

     10.9 Issuing Lender and Swingline Lender. The provisions of this Article X (other
than Section 10.2) shall apply to the Issuing Lender and the Swingline Lender mutatis
mutandis to the same extent as such provisions apply to the Administrative Agent.

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ARTICLE XI

MISCELLANEOUS

     11.1 Expenses; Indemnity; Damage Waiver.

     (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements
of counsel for the Administrative Agent), in connection with the syndication of the credit
facilities provided for herein, the preparation, negotiation, execution, delivery and
administration of this Agreement and the other Credit Documents or any amendments, modifications or
waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or
thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing
Lender in connection with the issuance, amendment, renewal or extension of any Letter of Credit or
any demand for payment thereunder, (iii) all out-of-pocket expenses incurred by the Administrative
Agent, any Lender or the Issuing Lender (including the fees, charges and disbursements of any
counsel for the Administrative Agent, any Lender or the Issuing Lender; provided that the Borrower
shall only be responsible to indemnify for one counsel to the Administrative Agent, the Issuing
Lender and the Lenders absent a conflict of interest arising in such single representation), in
connection with the enforcement or protection of its rights (A) in connection with this Agreement
and the other Credit Documents, including its rights under this Section, or (B) in connection with
the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses
incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of
Credit, and (iv) any civil penalty or fine assessed by OFAC against, and all reasonable costs and
expenses (including counsel fees and disbursements) incurred in connection with defense thereof by,
the Administrative Agent or any Lender as a result of conduct of the Borrower that violates a
sanction enforced by OFAC.

     (b) The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), 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 any Indemnitee or asserted against any Indemnitee by any
third party or by the Borrower or any other Credit Party arising out of, in connection with, or as
a result of (i) the execution or delivery of this Agreement, any other Credit Document or any
agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of
their respective obligations hereunder or thereunder or the consummation of the transactions
contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or proposed use of the
proceeds therefrom (including any refusal by the Issuing Lender to honor a demand for payment under
a Letter of Credit if the documents presented in connection with such demand do not strictly comply
with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of
Hazardous Substances on or from any property owned or operated by any Credit Party, or any
Environmental Claim related in any way to any Credit Party, or (iv) any actual or prospective
claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, whether brought by a third party or by the Borrower or any
other Credit Party, and regardless of whether any Indemnitee is a party thereto; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses (x) are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or
willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower or any
other Credit Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations
hereunder or under any other Credit Document, if the Borrower or such Credit Party has obtained a
final and nonappealable judgment in its favor on such claim as determined by a court of competent
jurisdiction.

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     (c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount
required under Section 11.1(a) or Section 11.1(b) to be paid by it to the Administrative Agent (or
any sub-agent thereof), the Issuing Lender or any Related Party of any of the foregoing, each
Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the Issuing
Lender or such Related Party, as the case may be, such Lender’s proportion (based on the
percentages as used in determining the Required Lenders as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that
the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the
case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent)
or the Issuing Lender in its capacity as such, or against any Related Party of any of the foregoing
acting for the Administrative Agent (or any such sub-agent) or the Issuing Lender in connection
with such capacity. The obligations of the Lenders under this Section 11.1(c) are subject to the
provisions of Section 2.3(c).

     (d) To the fullest extent permitted by applicable law, the Borrower, each other Credit Party
and each Related Party of any of the foregoing persons and each Indemnitee shall not assert, and
each hereby waives, any claim against the Borrower, each other Credit Party and each Related Party
or any Indemnitee, as applicable, on any theory of liability, for special, indirect, consequential
or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or
as a result of, this Agreement, any other Credit Document or any agreement or instrument
contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit
or the use of the proceeds thereof.

     (e) All amounts due under this Section shall be payable by the Borrower upon demand therefor.

     11.2 Governing Law; Submission to Jurisdiction; Waiver of Venue; Service of Process.

     (A) THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS SHALL (EXCEPT AS MAY BE EXPRESSLY OTHERWISE
PROVIDED IN ANY CREDIT DOCUMENT) BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NORTH CAROLINA (WITHOUT REGARD TO THE CONFLICTS OF LAW PROVISIONS THEREOF).

     (B) THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE
NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NORTH CAROLINA SITTING IN MECKLENBURG
COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE WESTERN DISTRICT OF NORTH CAROLINA, AND ANY
APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR ANY OTHER CREDIT DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH
OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH
ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH STATE COURT OR, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL
JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS
AGREEMENT OR IN ANY OTHER CREDIT DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT OR
ANY LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY
OTHER CREDIT

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DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION.

     (C) THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT IN
ANY COURT REFERRED TO IN SECTION 11.2(B). EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE
MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

     (D) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR
NOTICES IN SECTION 11.4. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO
SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.]

     11.3 Arbitration; Preservation and Limitation of Remedies.

     (a) Upon demand of any party hereto, whether made before or after institution of any judicial
proceeding, any dispute, claim or controversy arising out of, connected with or relating to this
Agreement or any other Credit Document (“Disputes”) between or among the Credit Parties,
the Administrative Agent and the Lenders, or any of them, shall be resolved by binding arbitration
as provided herein. Institution of a judicial proceeding by a party does not waive the right of
that party to demand arbitration hereunder. Disputes may include, without limitation, tort claims,
counterclaims, claims brought as class actions, claims arising from documents executed in the
future, disputes as to whether a matter is subject to arbitration, or claims arising out of or
connected with the transactions contemplated by this Agreement and the other Credit Documents.
Arbitration shall be conducted under and governed by the Commercial Financial Disputes Arbitration
Rules (the “Arbitration Rules”) of the American Arbitration Association (the “AAA”), as in
effect from time to time, and the Federal Arbitration Act, Title 9 of the U.S. Code. All
arbitration hearings shall be conducted in the city in which the principal office of the
Administrative Agent is located. A hearing shall begin within 90 days of demand for arbitration
and all hearings shall be concluded within 120 days of demand for arbitration. These time
limitations may not be extended unless a party shows cause for extension and then for no more than
a total of 60 days. The expedited procedures set forth in Rule 51 et seq. of the
Arbitration Rules shall be applicable to claims of less than $1,000,000. All applicable statutes
of limitation shall apply to any Dispute. A judgment upon the award may be entered in any court
having jurisdiction. The panel from which all arbitrators are selected shall be comprised of
licensed attorneys selected from the Commercial Financial Dispute Arbitration Panel of the AAA.
The single arbitrator selected for expedited procedure shall be a retired judge from the highest
court of general jurisdiction, state or federal, of the state where the hearing will be conducted.
Notwithstanding the foregoing, this arbitration provision does not apply to Disputes under or
related to any Hedge Agreement. The parties do not waive applicable federal or state substantive
law except as provided herein.

     (b) Notwithstanding the preceding binding arbitration provisions, the parties hereto agree to
preserve, without diminution, certain remedies that any party hereto may employ or exercise freely,
either alone, in conjunction with or during a Dispute. Any party hereto shall have the right to
proceed in any court of proper jurisdiction or by self-help to exercise or prosecute the following
remedies, as applicable: (i) all rights to foreclose against any Collateral by exercising a power
of sale granted pursuant to any of the Credit Documents or under applicable law or by judicial
foreclosure and sale, including a proceeding to confirm the sale; (ii) all rights of self-help,
including peaceful occupation of real property and

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collection of rents, set-off, and peaceful possession of personal property; (iii) obtaining
provisional or ancillary remedies, including injunctive relief, sequestration, garnishment,
attachment, appointment of a receiver and filing an involuntary bankruptcy proceeding; and (iv)
when applicable, a judgment by confession of judgment. Any claim or controversy with regard to any
party’s entitlement to such remedies is a Dispute. Preservation of these remedies does not limit
the power of an arbitrator to grant similar remedies that may be requested by a party in a Dispute.
The parties hereto agree that no party shall have a remedy of punitive or exemplary damages
against any other party in any Dispute, and each party hereby waives any right or claim to punitive
or exemplary damages that it has now or that may arise in the future in connection with any
Dispute, whether such Dispute is resolved by arbitration or judicially. The parties acknowledge
that by agreeing to binding arbitration they have irrevocably waived any right they may have to a
jury trial with regard to a Dispute.

     11.4 Notices; Effectiveness; Electronic Communication.

     (a) Except in the cases of notices and other communications expressly permitted to be given by
telephone (and except as provided in Section 11.4(b)), all notices and other communications
provided for herein shall be in writing and shall be delivered by hand or overnight courier
service, mailed by certified or registered mail or sent by telecopier as follows:

     (i) if to the Borrower, the Administrative Agent, the Swingline Lender or the Issuing
Lender to it at the address (or telecopier number) specified for such Person on Schedule
1.1(a); and

     (ii) if to any Lender, to it at its address (or telecopier number) set forth in its
Administrative Questionnaire.

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall
be deemed to have been given when received; notices sent by telecopier shall be deemed to have been
given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next Business Day for the recipient).
Notices delivered through electronic communications to the extent provided in Section 11.4(b) shall
be effective as provided in Section 11.4(b).

     (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communication (including e-mail and internet or intranet websites) pursuant to
procedures approved by the Administrative Agent, provided that the foregoing shall not
apply to notices to any Lender pursuant to Article 1.3(b) if such Lender has notified the
Administrative Agent that it is incapable of receiving notices under such Article by electronic
communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communication pursuant to procedures
approved by it, provided that approval of such procedures may be limited to particular
notices or communications. Unless the Administrative Agent otherwise prescribes, (i) notices and
other communications sent to an e-mail address shall be deemed received upon the sender’s receipt
of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement), provided that if
such notice or other communication is not sent during the normal business hours of the recipient,
such notice or communication shall be deemed to have been sent at the opening of business on the
next Business Day for the recipient, and (ii) notices or other communications posted to an internet
or intranet website shall be deemed received upon the deemed receipt by the intended recipient at
its e-mail address as described in the foregoing clause (i) of notification that such notice or
communication is available and identifying the website address therefor.

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     (c) Any party hereto may change its address or telecopier number for notices and other
communications hereunder by notice to the other parties hereto (except that each Lender need not
give notice of any such change to the other Lenders in their capacities as such).

     11.5 Amendments, Waivers, etc. No amendment, modification, waiver or discharge or
termination of, or consent to any departure by any Credit Party from, any provision of this
Agreement or any other Credit Document shall be effective unless in a writing signed by the
Required Lenders (or by the Administrative Agent at the direction or with the consent of the
Required Lenders), and then the same shall be effective only in the specific instance and for the
specific purpose for which given; provided, however, that no such amendment,
modification, waiver, discharge, termination or consent shall:

     (a) unless agreed to in writing by each Lender directly affected thereby, (i) reduce or
forgive the principal amount of any Loan or Reimbursement Obligation, reduce the rate of or forgive
any interest thereon (provided that only the consent of the Required Lenders shall be
required to waive the applicability of any post-default increase in interest rates), or reduce or
forgive any fees hereunder (other than fees payable to the Administrative Agent, the Arranger or
the Issuing Lender for its own account) (it being understood that an amendment to the definition of
Total Net Leverage Ratio (or any defined terms used therein) shall not constitute a reduction of
any interest rate or fees hereunder), (ii) extend the final scheduled maturity date or any other
scheduled date for the payment of any principal of or interest on any Loan (including any scheduled
date for the mandatory reduction or termination of any Commitments, but excluding any mandatory
prepayment of the Loans pursuant to Sections 2.6(c) and Section 2.6(d) or reduction or termination
of the Commitments in connection therewith), extend the time of payment of any Reimbursement
Obligation or any interest thereon, extend the expiry date of any Letter of Credit beyond the
Letter of Credit Maturity Date, or extend the time of payment of any fees hereunder (other than
fees payable to the Administrative Agent or the Issuing Lender for its own account), or (iii)
increase any Commitment of any such Lender over the amount thereof in effect or extend the maturity
thereof (it being understood that a waiver of any condition precedent set forth in Section 4.2 or
of any Default or Event of Default or mandatory reduction in the Commitments, if agreed to by the
Required Lenders or all Lenders (as may be required hereunder with respect to such waiver), shall
not constitute such an increase), or (iv) reduce the percentage of the aggregate Commitments or of
the aggregate unpaid principal amount of the Loans, or the number or percentage of Lenders, that
shall be required for the Lenders or any of them to take or approve, or direct the Administrative
Agent to take, any action hereunder or under any other Credit Document (including as set forth in
the definition of “Required Lenders”);

     (b) unless agreed to in writing by all of the Lenders, (i) release all or substantially all of
the Collateral (except as may be otherwise specifically provided in this Agreement or in any other
Credit Document), (ii) release any Material Subsidiary that is a Guarantor from its obligations
under any guaranty agreement (other than (A) as may be otherwise specifically provided in this
Agreement or in any other Credit Document or (B) in connection with the sale or other disposition
of all of the Capital Stock of such Guarantor in a transaction expressly permitted under or
pursuant to this Agreement), (iii) reduce the percentage of the aggregate Commitments or of the
aggregate unpaid principal amount of the Loans, or the number or percentage of Lenders, that shall
be required for the Lenders or any of them to take or approve, or direct the Administrative Agent
to take, any action hereunder or under any other Credit Document (including as set forth in the
definition of “Required Lenders”), (iv) change any other provision of this Agreement or any
of the other Credit Documents requiring, by its terms, the consent or approval of all the Lenders
for such amendment, modification, waiver, discharge, termination or consent, or (v) change or waive
any provision of Section 2.15, any other provision of this Agreement or any other Credit Document
requiring pro rata treatment of any Lenders, or this Section 11.5;

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     (c) unless agreed to in writing by all of the Lenders, reduce the percentage set forth in the
definition of “Required Lenders” (it being understood that no consent of any other Lender
or the Administrative Agent is required);

     (d) unless agreed to in writing by the Required Lenders, (i) except for any such changes to
which Section 11.5(a) applies, change any provision of Article 2.20 or any terms or provisions of
any Letter of Credit or any supporting documentation relating thereto (it being understood that no
consent of any other Lender or the Administrative Agent is required), or (ii) amend, modify or
waive any condition precedent to any Borrowing of Revolving Loans or issuance of a Letter of Credit
set forth in Section 4.2 (including in connection with any waiver of an existing Default or Event
of Default);

     (e) unless agreed to in writing by the Issuing Lender, the Swingline Lender or the
Administrative Agent in addition to the Lenders required as provided hereinabove to take such
action, affect the respective rights or obligations of the Issuing Lender, the Swingline Lender or
the Administrative Agent, as applicable, hereunder or under any of the other Credit Documents; and

Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or
consent which by its terms requires the consent of all Lenders or each affected Lender may be
effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x)
the Commitment of any Defaulting Lender may not be increased or extended without the consent of
such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or
each affected Lender that by its terms affects any Defaulting Lender more adversely than other
affected Lenders shall require the consent of such Defaulting Lender.

Notwithstanding the fact that the consent of all Lenders is required in certain circumstances as
set forth above, each Lender is entitled to vote as such Lender sees fit on any bankruptcy
reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of
Section 1126(c) of the Bankruptcy Code supersedes the unanimous consent provisions set forth
herein.

     11.6 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, except that neither
the Borrower nor any other Credit Party may assign or otherwise transfer any of its rights or
obligations hereunder without the prior written consent of the Administrative Agent and each Lender
and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except
(i) to an assignee in accordance with the provisions of Section 11.6(b), (ii) by way of
participation in accordance with the provisions of Section 11.6(d) or (iii) by way of pledge or
assignment of a security interest subject to the restrictions of Section 11.6(e) (and any other
attempted assignment or transfer by any party hereto shall be null and void). Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in Section 11.6(d) and, to the extent expressly contemplated hereby, the Related
Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy
or claim under or by reason of this Agreement.

     (b) Any Lender may at any time assign to one or more assignees all or a portion of its rights
and obligations under this Agreement (including all or a portion of its Commitments and the Loans
(including for purposes of this Section 11.6(b), participations in Letters of Credit and in
Swingline Loans) at the time owing to it); provided that any such assignment shall be
subject to the following conditions:

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     (i) (A) in the case of an assignment of the entire remaining amount of the assigning
Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to
a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned,
and (B) in any case not described in clause (A) above, the aggregate amount of the
Commitment (which for this purpose includes Loans outstanding thereunder) or, if the
applicable Commitment is not then in effect, the principal outstanding balance of the Loans
of the assigning Lender subject to each such assignment (determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Administrative
Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade
Date) shall not be less than (x) $5,000,000, in the case of any assignment in respect of a
Revolving Commitment (which for this purpose includes Revolving Loans outstanding), (y) the
entire Swingline Commitment and the full amount of the outstanding Swingline Loans, in the
case of Swingline Loans, in any case, treating assignments to two or more Approved Funds
under common management as one assignment for purposes of the minimum amounts, unless each
of the Administrative Agent and, so long as no Default or Event of Default has occurred and
is continuing, the Borrower otherwise consents (each such consent not to be unreasonably
withheld or delayed);

     (ii) each partial assignment shall be made as an assignment of a proportionate part of
all the assigning Lender’s rights and obligations under this Agreement with respect to the
Loan or the Commitment assigned, except that this clause (ii) shall not apply to rights in
respect of Swingline Loans;

     (iii) no consent shall be required for any assignment except to the extent required by
clause (B) of Section 11.6(b)(i) and, in addition:

     (A) the consent of the Borrower (such consent not to be unreasonably withheld
or delayed) shall be required unless (y) a Default or Event of Default has occurred
and is continuing at the time of such assignment or (z) such assignment is to a
Lender, an Affiliate of a Lender or an Approved Fund; and

     (B) the consent of the Administrative Agent (such consent not to be
unreasonably withheld or delayed) shall be required for assignments in respect of a
Commitment if such assignment is to a Person that is not a Lender, an Affiliate of
such Lender or an Approved Fund with respect to such Lender; and

     (C) the consent of the Issuing Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment that increases the
obligation of the assignee to participate in exposure under one or more Letters of
Credit (whether or not then outstanding); and

     (D) the consent of the Swingline Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment in respect of a
Commitment.

     (iv) the parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500
for each assignment and the assignee, if it is not a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire;

     (v) no such assignment shall be made to the Borrower or any of the Borrower’s
Affiliates or Subsidiaries; and

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     (vi) no such assignment shall be made to a natural person.

Subject to acceptance and recording thereof by the Administrative Agent pursuant to Section
11.6(c), from and after the effective date specified in each Assignment and Assumption, the
assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations
under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be
entitled to the benefits of Sections 2.16(a), 2.16(b), 2.17, 2.18 and 11.1 with respect to facts
and circumstances occurring prior to the effective date of such assignment. If requested by or on
behalf of the assignee, the Borrower, at its own expense, will execute and deliver to the
Administrative Agent a new Note or Notes to the order of the assignee (and, if the assigning Lender
has retained any portion of its rights and obligations hereunder, to the order of the assigning
Lender), prepared in accordance with the applicable provisions of Section 2.4 as necessary to
reflect, after giving effect to the assignment, the Commitments and/or outstanding Loans, as the
case may be, of the assignee and (to the extent of any retained interests) the assigning Lender, in
substantially the form of Exhibits A-1, A-2, A-3 and/or A-4, as applicable. Any assignment or
transfer by a Lender of rights or obligations under this Agreement that does not comply with this
Section 11.6(b) 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 Section 11.6(d).

     (c) The Administrative Agent, acting solely for this purpose as an agent of the Borrower,
shall maintain at its address for notices referred to in Schedule 1.1(a) a copy of each Assignment
and Assumption delivered to it and a register for the recordation of the names and addresses of the
Lenders, and the Commitments of, and principal amounts of the Loans owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall
be conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all
purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by each of the Borrower and the Issuing Lender, at any reasonable time and
from time to time upon reasonable prior notice.

     (d) Any Lender may at any time, without the consent of, or notice to, the Borrower or the
Administrative Agent, sell participations to any Person (other than a natural person or the
Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in
all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or
a portion of its Commitments and/or the Loans owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations and (iii) the
Borrower, the Administrative Agent, the Swingline Lender, the Issuing Lender and the 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, waiver or other modification described in
Section 11.5(a) and clause (i) of Section 11.5(b) that affects such Participant. Subject to
Section 11.6(e), the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 2.16(a), 2.16(b), 2.17 and 2.18 to the same extent as if it were a Lender and had acquired
its interest by assignment pursuant to Section 11.6(b). To the extent permitted by law, each
Participant also

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shall be entitled to the benefits of Section 9.3 as though it were a Lender; provided
such Participant agrees to be subject to Section 2.15(b) as though it were a Lender.

     (e) A Participant shall not be entitled to receive any greater payment under Section 2.16(a),
Section 2.16(b) or Section 2.17 than the applicable Lender would have been entitled to receive with
respect to the participation sold to such Participant, unless the sale of the participation to such
Participant is made with the Borrower’s prior written consent. A Participant that would be a
Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.17 unless the
Borrower is notified of the participation sold to such Participant and such Participant agrees, for
the benefit of the Borrower, to comply with Section 2.17(e) as though it were a Lender.

     (f) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement (including under its Notes, if any) to secure obligations of such
Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank;
provided that no such pledge or assignment shall release such Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

     (g) The words “execution,” “signed,” “signature,” and words of like import in any Assignment
and Assumption shall be deemed to include electronic signatures or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or enforceability as a
manually executed signature or the use of a paper-based recordkeeping system, as the case may be,
to the extent and as provided for in any applicable law, including the Federal Electronic
Signatures in Global and National Commerce Act or any state laws based on the Uniform Electronic
Transactions Act.

     (h) Any Lender or participant may, in connection with any assignment, participation, pledge or
proposed assignment, participation or pledge pursuant to this Section 11.6, disclose to the
Assignee, Participant or pledgee or proposed Assignee, Participant or pledgee any information
relating to the Borrower and its Subsidiaries furnished to it by or on behalf of any other party
hereto, provided that such Assignee, Participant or pledgee or proposed Assignee,
Participant or pledgee agrees in writing to keep such information confidential to the same extent
required of the Lenders under Section 11.11.

     (i) Notwithstanding anything to the contrary contained herein, if Wells Fargo assigns all of
its Commitments and Revolving Loans in accordance with this Section 11.6, Wells Fargo may resign as
Issuing Lender upon written notice to the Borrower and the Lenders. Upon any such notice of
resignation, the Borrower shall have the right to appoint from among the Lenders a successor
Issuing Lender; provided that no failure by the Borrower to make such appointment shall
affect the resignation of Wells Fargo as Issuing Lender. Wells Fargo shall retain all of the
rights and obligations of the Issuing Lender hereunder with respect to all Letters of Credit issued
by it and outstanding as of the effective date of its resignation and all obligations of the
Borrower and the Lenders with respect thereto (including the right to require the Lenders to make
Revolving Loans or fund participation interests pursuant to Article 2.20).

     11.7 No Waiver. The rights and remedies of the Administrative Agent and the Lenders
expressly set forth in this Agreement and the other Credit Documents are cumulative and in addition
to, and not exclusive of, all other rights and remedies available at law, in equity or otherwise.
No failure or delay on the part of the Administrative Agent or any Lender in exercising any right,
power or privilege shall operate as a waiver thereof, nor shall any single or partial exercise of
any such right, power or privilege preclude other or further exercise thereof or the exercise of
any other right, power or privilege or be construed to be a waiver of any Default or Event of
Default. No course of dealing between any Credit Party, the Administrative Agent or the Lenders or
their agents or employees shall be effective to amend, modify or discharge any provision of this
Agreement or any other Credit Document or to constitute a

98

 

waiver of any Default or Event of Default. No notice to or demand upon any Credit Party in
any case shall entitle any Credit Party to any other or further notice or demand in similar or
other circumstances or constitute a waiver of the right of the Administrative Agent or any Lender
to exercise any right or remedy or take any other or further action in any circumstances without
notice or demand.

     11.8 Survival. All representations, warranties and agreements made by or on behalf of
the Borrower or any other Credit Party in this Agreement and in the other Credit Documents shall
survive the execution and delivery hereof or thereof, the making and repayment of the Loans and the
issuance and repayment of the Letters of Credit. In addition, notwithstanding anything herein or
under applicable law to the contrary, the provisions of this Agreement and the other Credit
Documents relating to indemnification or payment of costs and expenses, including, without
limitation, the provisions of Sections 2.8(f), 2.16(a), 2.16(b), 2.17, 2.18 and 11.1, shall survive
the payment in full of all Loans and Letters of Credit, the termination of the Commitments and all
Letters of Credit, and any termination of this Agreement or any of the other Credit Documents.

     11.9 Severability. To the extent any provision of this Agreement is prohibited by or
invalid under the applicable law of any jurisdiction, such provision shall be ineffective only to
the extent of such prohibition or invalidity and only in such jurisdiction, without prohibiting or
invalidating such provision in any other jurisdiction or the remaining provisions of this Agreement
in any jurisdiction.

     11.10 Construction. The headings of the various articles, sections and subsections of
this Agreement and the table of contents have been inserted for convenience only and shall not in
any way affect the meaning or construction of any of the provisions hereof. Except as otherwise
expressly provided herein and in the other Credit Documents, in the event of any inconsistency or
conflict between any provision of this Agreement and any provision of any of the other Credit
Documents, the provision of this Agreement shall control. Any Hedge Agreement between the Borrower
and any Hedge Party is an independent agreement governed by the writing provisions of such Hedge
Agreement, which shall remain in full force and effect, unaffected by any repayment, prepayment,
acceleration, reduction, increase or change in the terms applicable to the Loans under this
Agreement, except as otherwise expressly provided in such Hedge Agreement, and any payoff statement
from the Administrative Agent relating to this Agreement shall not apply to such Hedge Agreement
except as expressly provided therein.

     11.11 Confidentiality. Each of the Administrative Agent, the Lenders and the Issuing
Lender agree to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective
partners, directors, officers, employees, agents, advisors and other representatives (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential
nature of such Information and instructed to keep such Information confidential), (b) to the extent
requested by any regulatory authority purporting to have jurisdiction over it (including any
self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the
extent required by applicable Requirements of Law or by any subpoena or similar legal process, (d)
to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under
any other Credit Document or any Hedge Agreement or any action or proceeding relating to this
Agreement or any other Credit Document or any Hedge Agreement or the enforcement of rights
hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same
as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of
or Participant in, any of its rights or obligations under this Agreement, or (ii) any actual or
prospective counterparty (or its advisors) to any swap or derivative transaction relating to the
Borrower and its obligations, (g) an investor or prospective investor in an Approved Fund, (h) a
trustee, collateral manager, servicer, backup servicer, noteholder or secured party in an Approved
Fund in connection with the administration, servicing and reporting on the assets serving as
collateral for an Approved Fund, (i) a nationally recognized rating agency that requires access to
information regarding the Credit Parties, the Loans and

99

 

Credit Documents in connection with ratings issued with respect to an Approved Fund, (j) with
the consent of the Borrower or (i) 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, any Lender, the Issuing Lender or any of their respective Affiliates on a nonconfidential
basis from a source other than the Borrower or any of its Subsidiaries or Affiliates.

     For purposes of this Section, “Information” means all information received from the
Credit Parties relating to any Credit Party or any of their respective businesses, other than any
such information that is available to the Administrative Agent, any Lender or the Issuing Lender on
a nonconfidential basis prior to disclosure by any Credit Party, provided that, in the case
of information received from any Credit Party 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.

     11.12 Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement and the other Credit Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof (except for the Fee Letter).
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 that, when taken together, bear the signatures of each of the other parties
hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy
shall be effective as delivery of a manually executed counterpart of this Agreement.

     11.13 Disclosure of Information. The Borrower agrees and consents to the
Administrative Agent’s and the Arranger’s disclosure of information relating to this transaction to
Gold Sheets and other similar bank trade publications. Such information will consist of
deal terms and other information customarily found in such publications.

     11.14 USA Patriot Act Notice. Each Lender that is subject to the PATRIOT Act and the
Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that
pursuant to the requirements of the PATRIOT Act, it is required to obtain, verify and record
information that identifies the Borrower, which information includes the name and address of the
Borrower and other information that will allow such Lender or the Administrative Agent, as
applicable, to identify the Borrower in accordance with the PATRIOT Act.

100

 

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

	 	 	 	 	 
	 	SWISHER HYGIENE INC.

 	 
	 	By:  	/s/ Hugh H. Cooper 	 
	 	 	Name:  	Hugh H. Cooper 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as 

Administrative Agent and as a Lender

 	 
	 	By:  	/s/ Cavan J. Harris 	 
	 	 	Name:  	Cavan J. Harris 	 
	 	 	Title:  	Senior Vice President 	 
	 

Signature Page to Credit Agreement

 

 

EXHIBIT A-1

Borrower’s Taxpayer Identification No.                 

REVOLVING NOTE

			
	 	 	 
	$                           
	 	                           , 2011
	 
	 	Charlotte, North Carolina

     FOR VALUE RECEIVED, SWISHER HYGIENE INC., a Delaware corporation (the “Borrower”),
hereby promises to pay to the order of

                                 the “Lender”), at the offices of Wells Fargo Bank, National
Association (the “Administrative Agent”) located at [1525 W. W.T. Harris Blvd., Building
3A2, Mailcode NC 0680, Charlotte, North Carolina 28262] (or at such other place or places as the
Administrative Agent may designate), at the times and in the manner provided in the Credit
Agreement, dated as of                            , 2011 (as amended, modified, restated or supplemented from
time to time, the “Credit Agreement”), among the Borrower, the Lenders from time to time
parties thereto, and Wells Fargo Bank, National Association, as Administrative Agent, the principal
sum of

                                 
        DOLLARS($               ), or such lesser amount as may constitute the unpaid
principal amount of the Revolving Loans made by the Lender, under the terms and conditions of this
promissory note (this “Revolving Note”) and the Credit Agreement. The defined terms in the
Credit Agreement are used herein with the same meaning. The Borrower also promises to pay interest
on the aggregate unpaid principal amount of this Revolving Note at the rates applicable thereto
from time to time as provided in the Credit Agreement.

     This Revolving Note is one of a series of Revolving Notes referred to in the Credit Agreement
and is issued to evidence the Revolving Loans made by the Lender pursuant to the Credit Agreement.
All of the terms, conditions and covenants of the Credit Agreement are expressly made a part of
this Revolving Note by reference in the same manner and with the same effect as if set forth herein
at length, and any holder of this Revolving Note is entitled to the benefits of and remedies
provided in the Credit Agreement and the other Credit Documents. Reference is made to the Credit
Agreement for provisions relating to the interest rate, maturity, payment, prepayment and
acceleration of this Revolving Note.

     In the event of an acceleration of the maturity of this Revolving Note, this Revolving Note
shall become immediately due and payable, without presentation, demand, protest or notice of any
kind, all of which are hereby waived by the Borrower.

 

 

     In the event this Revolving Note is not paid when due at any stated or accelerated maturity,
the Borrower agrees to pay, in addition to the principal and interest, all costs of collection,
including reasonable attorneys’ fees.

     This Revolving Note shall be governed by and construed in accordance with the internal laws
and judicial decisions of the State of North Carolina. The Borrower hereby submits to the
nonexclusive jurisdiction and venue of the federal and state courts located in Mecklenburg County,
North Carolina, although the Lender shall not be limited to bringing an action in such courts.

     IN WITNESS WHEREOF, the Borrower has caused this Revolving Note to be executed by its duly
authorized corporate officer as of the day and year first above written.

	 	 	 	 	 
	 	SWISHER HYGIENE INC.

 	 
	 	By:  	/s/
 	 
	 	 	Title:       	 
	 	 	 	 
	 

2

 

EXHIBIT A-2

Borrower’s Taxpayer Identification No.                 

SWINGLINE NOTE

			
	 	 	 
	$5,000,000
	 	                     , 2011
	 
	 	Charlotte, North Carolina

     FOR VALUE RECEIVED, SWISHER HYGIENE INC. , a Delaware corporation (the “Borrower”),
hereby promises to pay to the order of

     WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Swingline Lender”), at the offices of
Wells Fargo Bank, National Association (the “Administrative Agent”) located at [1525 W.
W.T. Harris Blvd., Building 3A2, Mailcode NC 0680, Charlotte, North Carolina 28262] (or at such
other place or places as the Administrative Agent may designate), at the times and in the manner
provided in the Credit Agreement, dated as of                            , 2011 (as amended, modified, restated
or supplemented from time to time, the “Credit Agreement”), among the Borrower, the Lenders
from time to time parties thereto, and Wells Fargo Bank, National Association, as Administrative
Agent, the principal sum of

     FIVE MILLION AND NO/100 DOLLARS ($5,000,000), or such lesser amount as may constitute the
unpaid principal amount of the Swingline Loans made by the Swingline Lender, under the terms and
conditions of this promissory note (this “Swingline Note”) and the Credit Agreement. The
defined terms in the Credit Agreement are used herein with the same meaning. The Borrower also
promises to pay interest on the aggregate unpaid principal amount of this Swingline Note at the
rates applicable thereto from time to time as provided in the Credit Agreement.

     This Swingline Note is issued to evidence the Swingline Loans made by the Swingline Lender
pursuant to the Credit Agreement. All of the terms, conditions and covenants of the Credit
Agreement are expressly made a part of this Swingline Note by reference in the same manner and with
the same effect as if set forth herein at length, and any holder of this Swingline Note is entitled
to the benefits of and remedies provided in the Credit Agreement and the other Credit Documents.
Reference is made to the Credit Agreement for provisions relating to the interest rate, maturity,
payment, prepayment and acceleration of this Swingline Note.

     In the event of an acceleration of the maturity of this Swingline Note, this Swingline Note
shall become immediately due and payable, without presentation, demand, protest or notice of any
kind, all of which are hereby waived by the Borrower.

     In the event this Swingline Note is not paid when due at any stated or accelerated maturity,
the Borrower agrees to pay, in addition to the principal and interest, all costs of collection,
including reasonable attorneys’ fees.

 

 

     This Swingline Note shall be governed by and construed in accordance with the internal laws
and judicial decisions of the State of North Carolina. The Borrower hereby submits to the
nonexclusive jurisdiction and venue of the federal and state courts located in Mecklenburg County,
North Carolina, although the Swingline Lender shall not be limited to bringing an action in such
courts.

     IN WITNESS WHEREOF, the Borrower has caused this Swingline Note to be executed by its duly
authorized corporate officer as of the day and year first above written.

	 	 	 	 	 
	 	SWISHER HYGIENE INC.

 	 
	 	By:  	/s/
 	 
	 	 	Title:    	 
	 	 	 	 
	 

2

 

EXHIBIT B-1

NOTICE OF BORROWING

[Date]

Wells Fargo Bank, National Association,

as Administrative Agent

1525 W. W.T. Harris Blvd

Building 3A2, Mailcode NC 0680

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

Ladies and Gentlemen:

     The undersigned, Swisher Hygiene Inc. (the “Borrower”), refers to the Credit
Agreement, dated as of                            , 2011, among the Borrower, certain Lenders from time to time
parties thereto, and you, as Administrative Agent for the Lenders (as amended, modified, restated
or supplemented from time to time, the “Credit Agreement,” the terms defined therein being
used herein as therein defined), and, pursuant to Section 2.2(b) of the Credit Agreement, hereby
gives you, as Administrative Agent, irrevocable notice that the Borrower requests a Borrowing of
Revolving Loans under the Credit Agreement, and to that end sets forth below the information
relating to such Borrowing (the “Proposed Borrowing”) as required by Section 2.2(b) of the
Credit Agreement:

     (i) The aggregate principal amount of the Proposed Borrowing is
$                           .1

     (ii) The Loans comprising the Proposed Borrowing shall be initially made as
[Base Rate Loans] [LIBOR Loans].2

     (iii) [The initial Interest Period for the LIBOR Loans comprising the Proposed
Borrowing shall be [one/two/three/six months].]3

 

			
	1	 	Amount of Proposed Borrowing must comply with Section
2.2(b) of the Credit Agreement.
	 
	2	 	Select the applicable Type of Loans.
	 
	3	 	Include this clause in the case of a Proposed Borrowing
comprised of LIBOR Loans, and select the applicable Interest Period.

 

 

     (iv) The Proposed Borrowing is requested to be made on                             (the
“Borrowing Date”).4

     The Borrower hereby certifies that the following statements are true on and as of the date
hereof and will be true on and as of the Borrowing Date:

     A. Each of the representations and warranties contained in Article V of the Credit
Agreement and in the other Credit Documents is and will be true and correct on and as of
each such date, with the same effect as if made on and as of each such date, both
immediately before and after giving effect to the Proposed Borrowing and to the application
of the proceeds therefrom (except to the extent any such representation or warranty is
expressly stated to have been made as of a specific date, in which case such representation
or warranty shall be true and correct as of such date);

     B. No Default or Event of Default has occurred and is continuing or would result from
the Proposed Borrowing or from the application of the proceeds therefrom; and

     C. After giving effect to the Proposed Borrowing, the sum of (i) the aggregate
principal amount of Revolving Loans outstanding, (ii) the aggregate Letter of Credit
Exposure of all Lenders, and (iii) the aggregate principal amount of Swingline Loans
outstanding, will not exceed the aggregate Commitments or the Maximum Availability.

	 	 	 	 	 
	 	Very truly yours,

SWISHER HYGIENE INC.

 	 
	 	By:  	/s/
 	 
	 	 	Title:  	 
	 	 	 	 
	 

 

			
	4	 	Shall be a Business Day at least one Business Day after
the date hereof (in the case of Base Rate Loans) or at least three Business
Days after the date hereof (in the case of LIBOR Loans).

2

 

EXHIBIT B-2

NOTICE OF SWINGLINE BORROWING

[Date]

Wells Fargo Bank, National Association,

as Administrative Agent

1525 W. W.T. Harris Blvd

Building 3A2, Mailcode NC 0680

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

Wells Fargo Bank, National Association,

as Swingline Lender

1525 W. W.T. Harris Blvd

Building 3A2, Mailcode NC 0680

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

Ladies and Gentlemen:

     The undersigned, SWISHER HYGIENE INC. (the “Borrower”), refers to the Credit
Agreement, dated as of                            , 2011, among the Borrower, certain Lenders from time to time
parties thereto, and you, as Administrative Agent for the Lenders (as amended, modified, restated
or supplemented from time to time, the “Credit Agreement,” the terms defined therein being
used herein as therein defined), and, pursuant to Section 2.2(d) of the Credit Agreement, hereby
gives you, as Administrative Agent and as Swingline Lender, irrevocable notice that the Borrower
requests a Borrowing of a Swingline Loan under the Credit Agreement, and to that end sets forth
below the information relating to such Borrowing (the “Proposed Borrowing”) as required by
Section 2.2(d) of the Credit Agreement:

     (i) The principal amount of the Proposed Borrowing is
$                           .1

     (ii) The Proposed Borrowing is requested to be made on                             (the
“Borrowing Date”).2

     The Borrower hereby certifies that the following statements are true on and as of the date
hereof and will be true on and as of the Borrowing Date:

 

			
	1	 	Amount of Proposed Borrowing must comply with Section
2.2(d) of the Credit Agreement.
	 
	2	 	Shall be a Business Day.

 

 

     A. Each of the representations and warranties contained in Article V of the Credit
Agreement and in the other Credit Documents is and will be true and correct on and as of
each such date, with the same effect as if made on and as of each such date, both
immediately before and after giving effect to the Proposed Borrowing and to the application
of the proceeds therefrom (except to the extent any such representation or warranty is
expressly stated to have been made as of a specific date, in which case such representation
or warranty shall be true and correct as of such date);

     B. No Default or Event of Default has occurred and is continuing or would result from
the Proposed Borrowing or from the application of the proceeds therefrom; and

     C. After giving effect to the Proposed Borrowing, the sum of (i) the aggregate
principal amount of Revolving Loans outstanding, (ii) the aggregate Letter of Credit
Exposure of all Lenders, and (iii) the aggregate principal amount of Swingline Loans
outstanding, will not exceed the aggregate Commitments or the Maximum Availability.

	 	 	 	 	 
	 	Very truly yours,

SWISHER HYGIENE INC.

 	 
	 	By:  	/s/
 	 
	 	 	Title:  	 
	 	 	 	 
	 

2

 

EXHIBIT B-2

NOTICE OF CONVERSION/CONTINUATION

[Date]

Wells Fargo Bank, National Association,

as Administrative Agent

1525 W. W.T. Harris Blvd

Building 3A2, Mailcode NC 0680

Charlotte, North Carolina 28262

Attention: Syndication Agency Services

Ladies and Gentlemen:

     The undersigned, SWISHER HYGIENE INC. (the “Borrower”), refers to the Credit
Agreement, dated as of                            , 2011, among the Borrower, certain Lenders from time to time
parties thereto, and you, as Administrative Agent for the Lenders (as amended, modified, restated
or supplemented from time to time, the “Credit Agreement,” the terms defined therein being
used herein as therein defined), and, pursuant to Section 2.11(b) of the Credit Agreement, hereby
gives you, as Administrative Agent, irrevocable notice that the Borrower requests a [conversion]
[continuation]1 of Loans under the Credit Agreement, and to that end sets forth below
the information relating to such [conversion] [continuation] (the “Proposed [Conversion]
[Continuation]”) as required by Section 2.11(b) of the Credit Agreement:

     (i) The Proposed [Conversion] [Continuation] is requested to be made on
                           .2

     (ii) The Proposed [Conversion] [Continuation] involves
$                           3 in aggregate principal amount of Revolving Loans made
pursuant to a Borrowing on                            ,4 which Loans are presently
maintained as [Base Rate] [LIBOR] Loans and are proposed hereby to be

 

			
	1	 	Insert “conversion” or “continuation” throughout the
notice, as applicable.
	 
	2	 	Shall be a Business Day at least one Business Day after
the date hereof (in the case of any conversion of LIBOR Loans into Base Rate
Loans) or at least three Business Days after the date hereof (in the case of
any conversion of Base Rate Loans into, or continuation of, LIBOR Loans), and
additionally, in the case of any conversion of LIBOR Loans into Base Rate
Loans, or continuation of LIBOR Loans, shall be the last day of the Interest
Period applicable to such LIBOR Loans.
	 
	3	 	Amount of Proposed Conversion or Continuation must
comply with Section 2.11(b) of the Credit Agreement.
	 
	4	 	Insert the applicable Borrowing Date for the Loans
being converted or continued.

 

 

     [converted into Base Rate Loans] [converted into LIBOR Loans] [continued as
LIBOR Loans].5

     (iii) [The initial Interest Period for the Loans being [converted into]
[continued as] LIBOR Loans pursuant to the Proposed [Conversion] [Continuation]
shall be [one/two/three/six months].]6

     The Borrower hereby certifies that the following statement is true both on and as of the date
hereof and on and as of the effective date of the Proposed [Conversion] [Continuation]: no Default
or Event of Default has or will have occurred and is continuing or would result from the Proposed
[Conversion] [Continuation].

	 	 	 	 	 
	 	Very truly yours,

SWISHER HYGIENE INC.

 	 
	 	By:  	/s/
 	 
	 	 	Title:   	 
	 	 	 	 
	 

 

			
	5	 	Complete with the applicable bracketed language.
	 
	6	 	Include this clause in the case of a Proposed
Conversion or Continuation involving a conversion of Base Rate Loans into, or
continuation of, LIBOR Loans, and select the applicable Interest Period.

2

 

EXHIBIT C

COMPLIANCE CERTIFICATE

     THIS CERTIFICATE is delivered pursuant to the Credit Agreement, dated as of March 30, 2011
(the “Credit Agreement”), among Swisher Hygiene Inc., a Delaware corporation (the
“Borrower”), the Lenders from time to time parties thereto, and Wells Fargo Bank, National
Association, as Administrative Agent. Capitalized terms used herein without definition shall have
the meanings given to such terms in the Credit Agreement.

     The undersigned hereby certifies that:

     1. The undersigned is a duly elected Financial Officer of the Borrower.

     2. Enclosed with this Certificate are copies of the financial statements of the Borrower and
its Subsidiaries as of                            , and for the [                 -month period] [year] then ended,
required to be delivered under Section [6.1(a)][6.1(b)] of the Credit Agreement. Such financial
statements have been prepared in accordance with GAAP [(subject to the absence of notes required by
GAAP and subject to normal year-end adjustments)]1 and fairly present the financial
condition of the Borrower and its Subsidiaries on a consolidated basis as of the date indicated and
the results of operation of the Borrower and its Subsidiaries on a consolidated basis for the
period covered thereby.

     3. The undersigned has reviewed the terms of the Credit Agreement and has made, or caused to
be made under the supervision of the undersigned, a review in reasonable detail of the transactions
and condition of the Borrower and its Subsidiaries during the accounting period covered by such
financial statements.

     4. The examination described in paragraph 3 above did not disclose, and the undersigned has no
knowledge of the existence of, any Default or Event of Default during or at the end of the
accounting period covered by such financial statements or as of the date of this Certificate. [,
except as set forth below.

Describe here or in a separate attachment any exceptions to paragraph 4 above by listing, in
reasonable detail, the nature of the Default or Event of Default, the period during which it
existed and the action that the Borrower has taken or proposes to take with respect thereto.]

     5. Attached to this Certificate as Attachment A is a covenant compliance worksheet reflecting
the computation of the financial covenants set forth in Article VII of the Credit Agreement as of
the last day of and for the period covered by the financial statements enclosed herewith.

 

			
	1	 	Insert in the case of quarterly financial statements.

 

 

     IN WITNESS WHEREOF, the undersigned has executed and delivered this Certificate as of the
           day of                            ,            .

	 	 	 	 	 
	 	SWISHER HYGIENE INC.

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

2

 

	 	 	 	 	 

ATTACHMENT A

COVENANT COMPLIANCE WORKSHEET

[to be added]

 

 

EXHIBIT D

ASSIGNMENT AND ASSUMPTION

     THIS ASSIGNMENT AND ASSUMPTION (this “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between [Name of Assignor] (the
“Assignor”) and [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,
receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and
Conditions set forth in Annex 1 attached hereto (the “Standard Terms and
Conditions”) 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 Revolving 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 Revolving 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, but not limited to, 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:	 	Swisher Hygiene Inc.

4.     Administrative Agent: Wells Fargo Bank, National Association, as the Administrative Agent
under the Credit Agreement.

 

			
	 	 	1Select as applicable.

 

 

     5.     Credit Agreement: Credit Agreement, dated as of                , 2011 (as amended, modified,
restated or supplemented from time to time, the “Credit Agreement”), among the Borrower,
certain lenders from time to time parties thereto (the “Lenders”), and Wells Fargo Bank,
National Association, as Administrative Agent.

     6.     Assigned Interest:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	Aggregate Amount of	 	 	Amount of	 	 	 	Percentage Assigned of	 	 	 	 	 	 
	 	Commitment/Revolving	 	 	Commitment/Revolving	 	 	 	Commitment/Revolving	 	 	 	CUSIP	 	 
	 	Loans for all Lenders2	 	 	Loans Assigned2	 	 	 	Loans3	 	 	 	Number4	 	 
	 	$
	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 
	 	$
	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 
	 	$
	 	 	$	 	 	 	 	 	%	 	 	 	 	 	 	 
	 

     7.     Trade Date:                      ]5

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

 

			
	 	 	2Amount to be adjusted by the counterparties to take into
account any payments or prepayments made between the Trade Date and the
Effective Date.
	 
	 	 	3Set forth, to at least 9 decimals, as a percentage of
the Commitment/Loans of all Lenders thereunder.
	 
	 	 	4Insert if applicable.
	 
	 	 	5To be completed if the Assignor and the Assignee intend
that the minimum assignment amount is to be determined as of the Trade Date.

2

 

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

	 	 	 	 	 
	 	ASSIGNOR:

[NAME OF ASSIGNOR]

 	 
	 	By:  	/s/
 	 
	 	 	Title:   	 
	 	 	 	 
	 

	 	 	 	 	 
	 	ASSIGNEE:

[NAME OF ASSIGNEE]

 	 
	 	By:  	/s/
 	 
	 	 	Title:   	 
	 	 	 	 
	 

[Consented to and]6 Accepted:

	 	 	 	 	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent

 	 
	By:  	/s/
 	 
	 	Title:   	 
	 	 	 	 
	 

[Consented to:]7

	 	 	 	 	 
	[NAME OF RELEVANT PARTY]

 	 
	By:  	/s/
 	 
	 	Title:   	 
	 	 	 
	 

 

			
	 	 	6To be added only if the consent of the Administrative
Agent is required by the terms of the Credit Agreement.
	 
	 	 	7To be added only if the consent of the Borrower and/or
other parties (e.g. Swingline Lender, Issuing Lender) is required by the terms
of the Credit Agreement.

 

 

ANNEX 1 to Assignment and Assumption

Credit Agreement, dated as of                            , 2011, among Swisher Hygiene Inc.,

as Borrower, certain Lenders from time to time parties thereto, and

Wells Fargo Bank, National Association, as Administrative Agent

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 Credit Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Credit Document or (iv) the performance or observance by the Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Credit 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 meets all requirements of an eligible Assignee under Section 11.6 of the
Credit Agreement (subject to receipt of such consents as may be required under the Credit
Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the
Credit Agreement as a Revolving Lender thereunder and, to the extent of the Assigned Interest,
shall have the obligations of a Revolving 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 thereof, as applicable, and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this Assignment and
Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis
and decision independently and without reliance on the Administrative Agent or any other Lender,
and (v) if it is a Foreign Lender, attached to the Assignment and Assumption is any documentation
required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and
executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on
the Administrative Agent, the Assignor or any other Lender, and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Documents, and (ii) it will perform in accordance with
their terms all of the obligations that by the terms of the Credit Documents are required to be
performed by it as a Revolving 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 that have accrued to but excluding the Effective
Date and to the Assignee for amounts that have accrued from and after the Effective Date.

     3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by telecopy shall be effective as delivery of a manually executed
counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed
by, and construed in accordance with, the laws of the State of North Carolina (without regard to
the conflicts of law provisions thereof).

2

 

EXHIBIT E

PLEDGE AND SECURITY AGREEMENT

     THIS PLEDGE AND SECURITY AGREEMENT, dated as of the            day of                            , 2011 (this
“Agreement”), is made by SWISHER HYGIENE INC., a Delaware corporation (the
“Borrower”), and by each of the undersigned Subsidiaries of the Borrower and each other
Subsidiary that, after the date hereof, executes an instrument of accession hereto substantially in
the form of Exhibit C (a “Pledgor Accession”; the undersigned and such other
Subsidiaries, collectively, together with the Borrower, the “Pledgors”), in favor of WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders party to the Credit
Agreement referred to below (in such capacity, the “Administrative Agent”), for the benefit
of the Secured Parties (as hereinafter defined). Except as otherwise provided herein, capitalized
terms used herein without definition have the meanings given to them in the Credit Agreement
referred to below.

RECITALS

     A. The Borrower, the Lenders and the Administrative Agent are parties to a Credit Agreement,
dated as of                 , 2011 (as amended, modified, restated or supplemented from time to time,
the “Credit Agreement”), providing for the availability of certain credit facilities to the
Borrower upon the terms and subject to the conditions set forth therein.

     B. As a condition to the extension of credit to the Borrower under the Credit Agreement, each
Subsidiary that is a party to this Agreement as of the date hereof has entered into a Guaranty
Agreement, dated as of the date hereof (as amended, modified, restated or supplemented from time to
time, the “Guaranty Agreement”), pursuant to which each such Subsidiary has guaranteed to
the Secured Parties the payment in full of the Obligations of the Borrower under the Credit
Agreement and the other Credit Documents. Additionally, certain other Subsidiaries of the Borrower
may from time to time after the date hereof enter into the Guaranty Agreement, pursuant to which
such Subsidiaries will guarantee to the Secured Parties the payment in full of the Obligations of
the Borrower under the Credit Agreement and the other Credit Documents.

     C. It is a further condition to the extension of credit to the Borrower under the Credit
Agreement that the Pledgors shall have agreed, by executing and delivering this Agreement, to
secure the payment in full of their respective obligations under the Credit Agreement, the Guaranty
Agreement and the other Credit Documents. The Secured Parties are relying on this Agreement in
their decision to extend credit to the Borrower under the Credit Agreement, and would not enter
into the Credit Agreement without the execution and delivery of this Agreement by the Pledgors.

     D. The Pledgors will obtain benefits as a result of the extension of credit to the Borrower
under the Credit Agreement, which benefits are hereby acknowledged, and, accordingly, desire to
execute and deliver this Agreement.

 

 

STATEMENT OF AGREEMENT

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, to induce the Secured Parties to
enter into the Credit Agreement and to induce the Lenders to extend credit to the Borrower
thereunder, each Pledgor hereby agrees as follows:

ARTICLE I

DEFINITIONS

     1.1 Defined Terms. The following terms that are defined in the Uniform Commercial
Code (as hereinafter defined) are used in this Agreement as so defined (and, in the event any such
term is defined differently for purposes of Article 9 of the Uniform Commercial Code than for any
other purpose or purposes of the Uniform Commercial Code, the Article 9 definition shall govern):
Account, As-Extracted Collateral, Chattel Paper, Commercial Tort Claim, Commodity Account,
Commodity Intermediary, Deposit Accounts, Documents, Electronic Chattel Paper, Equipment, Fixtures,
General Intangibles, Goods, Instruments, Inventory, Investment Property, Letter-of-Credit Rights,
Record, Securities Account, Securities Intermediary, Software, Supporting Obligations and Tangible
Chattel Paper. In addition, the following terms have the meanings set forth below:

          “Collateral” has the meaning given to such term in Section 2.1.

          “Collateral Accounts” has the meaning given to such term in Section 6.3.

          “Contracts” means, collectively, all rights of each Pledgor under all leases,
contracts and agreements to which such Pledgor is now or hereafter a party, including, without
limitation, all rights, privileges and powers under Ownership Agreements and Licenses, together
with any and all extensions, modifications, amendments and renewals of such leases, contracts and
agreements and all rights of such Pledgor to receive moneys due or to become due thereunder or
pursuant thereto and to amend, modify, terminate or exercise rights under such leases, contracts
and agreements.

          “Copyright Collateral” means, collectively, all Copyrights and Copyright Licenses to
which any Pledgor is or hereafter becomes a party and all other General Intangibles embodying,
incorporating, evidencing or otherwise relating or pertaining to any Copyright or Copyright
License, in each case whether now owned or existing or hereafter acquired or arising.

          “Copyright License” means any agreement now or hereafter in effect granting any right
to any third party under any Copyright now or hereafter owned by any Pledgor or which any Pledgor
otherwise has the right to license, or granting any right to any Pledgor under any property of the
type described in the definition of Copyright herein now or hereafter owned by any third party, and
all rights of any Pledgor under any such agreement.

          “Copyrights” means, collectively, all of each Pledgor’s copyrights, copyright
registrations and applications for copyright registration, whether under the laws of the United
States or any other country or jurisdiction, including all recordings, supplemental registrations
and derivative or collective work registrations, and all renewals and extensions thereof, in each
case whether now owned or existing or hereafter acquired or arising.

2

 

          “Excluded Collateral” means collectively the following property of a Pledgor: (a)
“intent-to-use” United States trademarks until such time as such Pledgor begins to use such
trademarks, and (b) any item of Accounts, Chattel Paper, Contracts, Documents, General Intangibles,
or Instruments (the “Subject Collateral”) but only to the extent that any such item of Subject
Collateral (or any agreement evidencing such item of Subject Collateral) contains a term or is
subject to a rule of law, statute or regulation that restricts, prohibits, or requires a consent
(that has not been obtained) of a Person (other than such Pledgor) to, the creation, attachment or
perfection of the security interest granted herein, and any such restriction, prohibition and/or
requirement of consent is effective and enforceable under applicable law and is not rendered
ineffective by applicable law (including, without limitation, pursuant to Sections 9-406, 9-407,
9-408 or 9-409 of the Uniform Commercial Code); provided, however, that (x) the
foregoing clause (b) shall not include any proceeds of any item of Subject Collateral, and (y) any
item of Subject Collateral that at any time ceases to satisfy the criteria for the foregoing clause
(b) (whether as a result of the applicable Pledgor obtaining any necessary consent, any change in
any rule of law, statute or regulation, or otherwise), shall no longer be excluded pursuant to
clause (b).

          “Knowledge of the Pledgor” means the actual knowledge of any Responsible Officer of
such Pledgor.

          “License” means any Copyright License, Patent License or Trademark License.

          “Mobile Goods” means, collectively, all of each Pledgor’s motor vehicles, tractors,
trailers, aircraft, rolling stock and other like property, whether or not the title thereto is
governed by a certificate of title or ownership, in each case whether now owned or existing or
hereafter acquired.

          “Ownership Agreement” means any partnership agreement, joint venture agreement,
limited liability company operating agreement, stockholders agreement or other agreement creating,
governing or evidencing any such capital stock or equity interests and to which any Pledgor is now
or hereafter becomes a party, as any such agreement may be amended, modified, supplemented,
restated or replaced from time to time.

          “Patent Collateral” means, collectively, all Patents and all Patent Licenses to which
any Pledgor is or hereafter becomes a party and all other General Intangibles embodying,
incorporating, evidencing or otherwise relating or pertaining to any Patent or Patent License, in
each case whether now owned or existing or hereafter acquired or arising.

          “Patent License” means any agreement now or hereafter in effect granting to any third
party any right to make, use or sell any invention on which a Patent, now or hereafter owned by any
Pledgor or which any Pledgor otherwise has the right to license, is in existence, or granting to
any Pledgor any right to make, use or sell any invention on which property of the type described in
the definition of Patent herein, now or hereafter owned by any third party, is in existence, and
all rights of any Pledgor under any such agreement.

3

 

          “Patents” means, collectively, all of each Pledgor’s letters patent, whether under the
laws of the United States or any other country or jurisdiction, all recordings and registrations
thereof
and applications therefor, including, without limitation, the inventions and improvements
described therein, and all reissues, continuations, divisions, renewals, extensions, substitutions
and continuations-in-part thereof, in each case whether now owned or existing or hereafter acquired
or arising.

          “Permitted Hedge Agreement” means any Hedge Agreement that is required or permitted by
the Credit Agreement to be entered into by the Borrower.

          “Pledged Interests” means, collectively, (i) all of the issued and outstanding shares,
interests or other equivalents of capital stock of each Person that is a direct Subsidiary of any
Pledgor as of the date hereof or that becomes a direct Subsidiary of any Pledgor at any time after
the date hereof, at any time now or hereafter owned by any Pledgor, whether voting or non-voting
and whether common or preferred; (ii) all partnership, joint venture, limited liability company or
other equity interests in each Person not a corporation that is a direct Subsidiary of any Pledgor
as of the date hereof or that becomes a direct Subsidiary of any Pledgor at any time after the date
hereof, at any time now or hereafter owned by any Pledgor; (iii) all options, warrants and other
rights to acquire, and all securities convertible into, any of the foregoing; (iv) all rights to
receive interest, income, dividends, distributions, returns of capital and other amounts (whether
in cash, securities, property, or a combination thereof), and all additional stock, warrants,
options, securities, interests and other property, from time to time paid or payable or distributed
or distributable in respect of any of the foregoing (but subject to the provisions of Section 5.3),
including, without limitation, all rights of such Pledgor to receive amounts due and to become due
under or in respect of any Ownership Agreement or upon the termination thereof; (v) all rights of
access to the books and records of any such Person; and (vi) all other rights, powers, privileges,
interests, claims and other property in any manner arising out of or relating to any of the
foregoing, of whatever kind or character (including any tangible or intangible property or
interests therein), and whether provided by contract or granted or available under applicable law
in connection therewith, including, without limitation, such Person’s right to vote and to manage
and administer the business of any such Subsidiary pursuant to any applicable Ownership Agreement,
in each case together with all certificates, instruments and entries upon the books of financial
intermediaries at any time evidencing any of the foregoing.

          “Proceeds” has the meaning given to such term in Section 2.1.

          “Secured Parties” means, collectively, the Lenders (including the Issuing Lender and
the Swingline Lender in their capacities as such), the Hedge Parties and the Administrative Agent.

          “Trademark Collateral” means, collectively, all Trademarks and Trademark Licenses to
which any Pledgor is or hereafter becomes a party and all other General Intangibles embodying,
incorporating, evidencing or otherwise relating or pertaining to any Trademark or Trademark
License, in each case whether now owned or existing or hereafter acquired or arising.

          “Trademark License” means any agreement now or hereafter in effect granting any right
to any third party under any Trademark now or hereafter owned by any Pledgor or which any Pledgor
otherwise has the right to license, or granting any right to any Pledgor under any property of the
type described in the definition of Trademark herein now or hereafter owned by any third party, and
all rights of any Pledgor under any such agreement.

4

 

          “Trademarks” means, collectively, all of each Pledgor’s trademarks, service marks,
trade names, corporate and company names, business names, logos, trade dress, trade styles, other
source or business identifiers, designs and general intangibles of a similar nature, whether under
the laws of the United States or any other country or jurisdiction, all recordings and
registrations thereof and applications therefor, all renewals, reissues and extensions thereof, all
rights corresponding thereto, and all goodwill associated therewith or symbolized thereby, in each
case whether now owned or existing or hereafter acquired or arising.

          “Uniform Commercial Code” means the Uniform Commercial Code as the same may be in
effect from time to time in the State of North Carolina; provided that if, by reason of
applicable law, the validity or perfection of any security interest in any Collateral granted under
this Agreement is governed by the Uniform Commercial Code as in effect in another jurisdiction,
then as to the validity or perfection, as the case may be, of such security interest, “Uniform
Commercial Code” means the Uniform Commercial Code as in effect from time to time in such other
jurisdiction.

     1.2 Other Terms; Construction. All terms in this Agreement that are not capitalized
shall, unless the context otherwise requires, have the meanings provided by the Uniform Commercial
Code to the extent the same are used or defined therein.

ARTICLE II

CREATION OF SECURITY INTEREST

     2.1 Pledge and Grant of Security Interest. Each Pledgor hereby pledges, assigns and
delivers to the Administrative Agent, for the ratable benefit of the Secured Parties, and grants to
the Administrative Agent, for the ratable benefit of the Secured Parties, a Lien upon and security
interest in, all of such Pledgor’s right, title and interest in and to the following property and
assets of such Pledgor, in each case whether now owned or existing or hereafter acquired or arising
and wherever located (collectively, the “Collateral”):

     (i) all Accounts;

     (ii) all As-Extracted Collateral;

     (iii) all Chattel Paper;

     (iv) the Commercial Tort Claims (if any) set forth on Annex I hereto;

     (v) all Contracts;

     (vi) all Copyright Collateral;

     (vii) all Deposit Accounts;

     (viii) all Documents;

     (ix) all Equipment;

5

 

     (x) all Fixtures;

     (xi) all General Intangibles;

     (xii) all Goods;

     (xiii) all Instruments;

     (xiv) all Inventory;

     (xv) all Investment Property;

     (xvi) all Letter-of-Credit Rights;

     (xvii) all Patent Collateral;

     (xviii) all Pledged Interests; provided, however, that at no time shall
the Pledged Interests of any Foreign Subsidiary exceed 65% of all such shares, interests,
rights and other property of the type described in this clause (xviii) of such Foreign
Subsidiary;

     (xix) all Software;

     (xx) all Supporting Obligations;

     (xxi) all Trademark Collateral;

     (xxii) all cash, cash equivalents and money of such Pledgor, wherever held;

     (xxiii) to the extent not covered or not specifically excluded by clauses (i) through
(xxii) above, all of such Pledgor’s other personal property;

     (xxiv) all Records evidencing or relating to any of the foregoing or that are otherwise
necessary or useful in the collection thereof;

     (xxv) all accessions, additions, attachments, improvements, modifications and upgrades
to, replacements of and substitutions for any of the foregoing; and

     (xxvi) any and all proceeds, as defined in the Uniform Commercial Code, products,
rents, royalties and profits of or from any and all of the foregoing and, to the extent not
otherwise included in the foregoing, (w) all payments under any insurance (whether or not
the Administrative Agent is the loss payee thereunder), indemnity, warranty or guaranty with
respect to any of the foregoing Collateral, (x) all payments in connection with any
requisition, condemnation, seizure or forfeiture with respect to any of the foregoing
Collateral, (y) all claims and rights (but not obligations) to recover for any past, present
or future infringement or dilution of or injury to any Copyright Collateral, Patent
Collateral or Trademark Collateral, and (z) all other amounts from time to time paid or
payable under or with respect to any of the foregoing Collateral (collectively,
“Proceeds”). For purposes of this Agreement, the term “Proceeds” includes
whatever is receivable or received when Collateral or Proceeds are sold, exchanged,
collected or otherwise disposed of, whether voluntarily or involuntarily;

6

 

provided, however, Collateral shall not include any Excluded Collateral.

Notwithstanding the foregoing, the Administrative Agent may, in its sole discretion, reject or
refuse to accept for credit toward payment of the Secured Obligations any Collateral that is an
Account, Instrument, Chattel Paper, lease or other obligation or property of any kind due or owing
from or belonging to a Sanctioned Person.

     2.2 Security for Secured Obligations. This Agreement and the Collateral secure the
full and prompt payment, at any time and from time to time as and when due (whether at the stated
maturity, by acceleration or otherwise), of (a) in the case of the Borrower, all Obligations of the
Borrower under the Credit Agreement and the other Credit Documents, including, without limitation,
all principal of and interest on the Loans, all Reimbursement Obligations, all fees, expenses,
indemnities and other amounts payable by the Borrower under the Credit Agreement or any other
Credit Document (including interest accruing after the filing of a petition or commencement of a
case by or with respect to the Borrower seeking relief under any applicable federal and state laws
pertaining to bankruptcy, reorganization, arrangement, moratorium, readjustment of debts,
dissolution, liquidation or other debtor relief, specifically including, without limitation, the
Bankruptcy Code and any fraudulent transfer and fraudulent conveyance laws, whether or not the
claim for such interest is allowed in such proceeding), and all obligations of the Borrower to any
Hedge Party under any Permitted Hedge Agreement, and (b) in the case of each other Pledgor, all of
its liabilities and obligations as a Guarantor (as defined in the Guaranty Agreement) in respect of
the Obligations; and in each case under (a) and (b) above, (i) all such liabilities and obligations
that, but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code,
would become due, and (ii) all fees, costs and expenses payable by the Pledgors under Section 8.1,
in each case under (a) and (b) above whether now existing or hereafter created or arising and
whether direct or indirect, absolute or contingent, due or to become due (the liabilities and
obligations of the Pledgors described in this Section 2.2, collectively, the “Secured
Obligations”).

ARTICLE III

REPRESENTATIONS AND WARRANTIES

     Each Pledgor represents and warrants as follows:

     3.1 Ownership of Collateral. Each Pledgor owns, or has valid rights as a lessee or
licensee with respect to, all Collateral purported to be pledged by it hereunder, free and clear of
any Liens except for the Liens granted to the Administrative Agent, for the benefit of the Secured
Parties, pursuant to this Agreement, and except for other Permitted Liens. No security agreement,
financing statement or other public notice with respect to all or any part of the Collateral is on
file or of record in any government or public office, and no Pledgor has filed or consented to the
filing of any such statement or notice, except (i) Uniform Commercial Code financing statements
naming the Administrative Agent as secured party, (ii) security instruments filed in the U.S.
Copyright Office or the U.S. Patent and Trademark Office naming the
Administrative Agent as secured party, (iii) filings with respect to which termination
statements and other necessary releases have been delivered to the Administrative Agent for filing,
and (iv) as may be otherwise permitted by the Credit Agreement.

7

 

     3.2 Security Interests; Filings. This Agreement, together with (i) the filing, with
respect to each Pledgor, of duly completed Uniform Commercial Code financing statements naming such
Pledgor as debtor, the Administrative Agent as secured party, and describing the Collateral, in the
jurisdictions set forth with respect to such Pledgor on Annex A hereto, (ii) to the extent
required by applicable law, the filing, with respect to each relevant Pledgor, of duly completed
and executed assignments in the forms set forth as Exhibits A and B with the U.S.
Copyright Office or the U.S. Patent and Trademark Office, as appropriate, with regard to registered
Copyright Collateral, Patent Collateral and Trademark Collateral of such Pledgor, as the case may
be, (iii) in the case of uncertificated Pledged Interests consisting of capital stock and
constituting “securities” under Article 8 of the Uniform Commercial Code, registration of transfer
thereof to the Administrative Agent on the issuer’s books or the execution by the issuer of a
control agreement satisfying the requirements of Section 8-106 (or its successor provision) of the
Uniform Commercial Code, and (iv) the delivery to the Administrative Agent of all stock
certificates and Instruments included in the Collateral (and assuming continued possession thereof
by the Administrative Agent), creates, and at all times shall constitute, a valid and perfected
security interest in and Lien upon the Collateral in favor of the Administrative Agent, for the
benefit of the Secured Parties, to the extent a security interest therein can be perfected by such
filings or possession, as applicable, superior and prior to the rights of all other Persons therein
(except for Permitted Liens), and no other or additional filings, registrations, recordings or
actions are or shall be necessary or appropriate under current law in order to maintain the
perfection and priority of such Lien and security interest, other than actions required with
respect to Collateral of the types excluded from Article 9 of the Uniform Commercial Code or from
the filing requirements under such Article 9 by reason of Section 9-109, 9-309 or 9-310 of the
Uniform Commercial Code and other than continuation statements required under the Uniform
Commercial Code.

     3.3 Locations. Annex B lists, as to each Pledgor, (i) its exact legal name,
(ii) the jurisdiction of its incorporation or organization, its federal tax identification number,
and (if applicable) its organizational identification number, (iii) the addresses of its chief
executive office and each other place of business, (iv) the address of each location of its books
and records or other information evidencing or relating to the Collateral of such Pledgor, and (v)
the address of each location at which any material Equipment or material Inventory (other than
Mobile Goods and Goods in transit) owned by such Pledgor is kept or maintained, in each instance
except for any new locations established in accordance with the provisions of Section 4.2. Except
as may be otherwise noted therein, all locations identified in Annex B are leased by the
applicable Pledgor. No Pledgor that is the owner of Collateral that constitutes a material portion
of the Collateral of the Pledgors taken as a whole (x) presently conducts business under any prior
or other corporate or company name or under any trade or fictitious names, except as indicated
beneath its name on Annex B, (y) except as set forth on Annex B, has entered into
any contract or granted any Lien within the past five years under any name other than its legal
corporate name or a trade or fictitious name indicated on Annex B, or (z) has filed any tax
return under any name other than its exact legal name or the exact legal name of the Borrower or
any Subsidiary of the Borrower, except as indicated beneath its name on Annex B.

8

 

     3.4 Authorization; Consent. The execution, delivery and performance by each Pledgor
of this Agreement and the grant by such Pledgor of the Lien and security interest in favor of the
Administrative Agent provided for herein, or the exercise by the Administrative Agent of its rights
and remedies hereunder do not require any authorization, exemption, consent or approval of, notice
to, or declaration or filing with, any Governmental Authority other than those obtained on or
before the Closing Date (other than those, if not obtained, that could not reasonably be expected
to result in, individually or in the aggregate, a Material Adverse Effect).

     3.5 No Restrictions. There are no statutory or regulatory restrictions, prohibitions
or limitations on any Pledgor’s ability to grant to the Administrative Agent a Lien upon and
security interest in the Collateral pursuant to this Agreement or (except for the provisions of the
federal Anti-Assignment Act and Anti-Claims Act, as amended) on the exercise by the Administrative
Agent of its rights and remedies hereunder (including any foreclosure upon or collection of the
Collateral), and there are no contractual restrictions on any Pledgor’s ability so to grant such
Lien and security interest.

     3.6 Accounts. Each Account is, or at the time it arises will be, except as would not
have, individually or in the aggregate, a Material Adverse Effect, (i) a bona fide, valid and
legally enforceable indebtedness of the account debtor according to its terms, arising out of or in
connection with the sale, lease or performance of Goods or services by the Pledgors or any of them,
(ii) subject to no offsets, discounts, counterclaims, contra accounts or any other defense of any
kind and character, other than customarily given by the Pledgors in the ordinary course of business
and warranties provided by applicable law, (iii) to the extent listed on any schedule of Accounts
at any time furnished to the Administrative Agent, a true and correct statement of the amount
actually and unconditionally owing thereunder, maturing as stated in such schedule and in the
invoice covering the transaction creating such Account, and (iv) not evidenced by any Tangible
Chattel Paper or other Instrument; or if so, such Tangible Chattel Paper or other Instrument (other
than invoices and related correspondence and supporting documentation) shall promptly be duly
endorsed to the order of the Administrative Agent and delivered to the Administrative Agent to be
held as Collateral hereunder. To the knowledge of each Pledgor, there are no facts, events or
occurrences that would in any way impair the validity or enforcement of any Accounts except as set
forth above.

     3.7 Pledged Interests. As of the date hereof, the Pledged Interests required to be
pledged hereunder by each Pledgor consist of the number and type of shares of capital stock (in the
case of issuers that are corporations) or the percentage and type of other equity interests (in the
case of issuers other than corporations) as described beneath such Pledgor’s name in Annex
C. All of the Pledged Interests have been duly and validly issued and are fully paid and
nonassessable (or, in the case of partnership, limited liability company or similar Pledged
Interests, not subject to any capital call or other additional capital requirement) and not subject
to any preemptive rights, warrants, options or similar rights or restrictions in favor of third
parties or any contractual or other restrictions upon transfer. As to each issuer thereof, the
Pledged Interests pledged hereunder constitute 100% of the outstanding capital stock of or other
equity interests in such issuer, except as set forth in Annex C (or, in the case of any
issuer that is a Foreign Subsidiary, such lower percentage, not less than 65% (with respect to
voting capital stock or other equity interests only) in any event, as may be permitted by the terms
of this Agreement and the Credit Agreement).

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     3.8 Intellectual Property. Annexes D, E and F correctly set
forth all registered Copyrights, Patents and Trademarks owned by any Pledgor as of the date hereof
(and as amended from time to time pursuant to Section 4.8) and used or proposed to be used in its
business. Each such Pledgor owns or has the legal right to use all Copyrights, Patents and
Trademarks; all registrations therefor have been validly issued under applicable law and are in
full force and effect; no claim has been made in writing, is pending, or, to the Knowledge of such
Pledgor, is threatening, challenging or questioning the use of any of the Copyrights, Patents or
Trademarks or the validity or effectiveness of any such Copyrights, Patents or Trademarks, which,
if adversely determined is reasonably likely to result in a Material Adverse Effect, and to the
Knowledge of such Pledgor, the use of such Copyright, Patent or Trademark by such Pledgor does not
infringe on the rights of any Person.

     3.9 Deposit Accounts. Annex G lists, as of the date hereof (and as amended
from time to time pursuant to Section 4.10), all Deposit Accounts maintained by any Pledgor, and
lists in each case the name in which the account is held, the name of the depository institution,
the account number, and a description of the type or purpose of the account.

     3.10 Securities and Commodity Accounts. Annex H lists, as of the date hereof
(and as amended from time to time pursuant to Section 4.11), all Securities Accounts and Commodity
Accounts maintained by any Pledgor with any Securities Intermediary or Commodity Intermediary, and
lists in each case the name in which the account is held, the name of the Securities Intermediary
or Commodity Intermediary, the account number, and a description of the type or purpose of the
account.

     3.11 Documents of Title. No bill of lading, warehouse receipt or other Document or
Instrument of title is outstanding with respect to any material portion of the Collateral other
than Mobile Goods and other than Inventory in transit in the ordinary course of business to a
location set forth on Annex B or to a customer of a Pledgor.

     3.12 Commercial Tort Claims. Annex I lists, as of the date hereof and to the
knowledge of each Pledgor, all Commercial Tort Claims existing in favor of any Pledgor.

ARTICLE IV

COVENANTS

     4.1 Use and Disposition of Collateral. So long as no Event of Default shall have
occurred and be continuing, each Pledgor may, in any lawful manner not inconsistent with the
provisions of this Agreement and the other Credit Documents, use, control and manage the Collateral
in the operation of its businesses, and receive and use the income, revenue and profits arising
therefrom and the Proceeds thereof, in the same manner and with the same effect as if this
Agreement had not been made; provided, however, that no Pledgor will sell or
otherwise dispose of, grant any option with respect to, or mortgage, pledge, grant any Lien with
respect to or otherwise encumber any of the Collateral or any interest therein, except for the
security interest created in favor of the Administrative Agent hereunder and except as may be
otherwise expressly permitted in accordance with the terms of this Agreement and the Credit
Agreement (including
any applicable provisions therein regarding delivery of proceeds of sale or disposition to the
Administrative Agent).

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     4.2 Change of Name, Locations, etc. No Pledgor will (i) change its name, identity or
corporate structure, (ii) change its chief executive office from the location thereof listed on
Annex B, (iii) change the jurisdiction of its incorporation or organization from the
jurisdiction listed on Annex B (whether by merger or otherwise), (iv) file any document
with the Internal Revenue Service using any name other than its exact legal name listed on
Annex B, or (v) remove any Collateral (other than Mobile Goods and Goods in transit), or
any books, records or other information relating to Collateral, from the applicable location
thereof listed on Annex B, or keep or maintain any Collateral at a location not listed on
Annex B, unless in each case such Pledgor has (1) given at least fifteen (15) days’ written
notice prior to any such change or removal such documents to the Administrative Agent of its
intention to do so, together with information regarding any such new location and such other
information in connection with such proposed action as the Administrative Agent may reasonably
request, and (2) delivered to the Administrative Agent prior to any such change or removal such
documents, instruments and financing statements as may be required by the Administrative Agent, all
in form and substance satisfactory to the Administrative Agent, paid all necessary filing and
recording fees and taxes, and taken all other actions reasonably requested by the Administrative
Agent (including, at the request of the Administrative Agent, delivery of opinions of counsel
reasonably satisfactory to the Administrative Agent to the effect that all such actions have been
taken), in order to perfect and maintain the Lien upon and security interest in the Collateral
provided for herein in accordance with the provisions of Section 3.2.

     4.3 Records; Inspection.

     (a) Each Pledgor will keep and maintain at its own cost and expense satisfactory and complete
records of the Accounts and all other Collateral, including, without limitation, records of all
payments received, all credits granted thereon, all merchandise returned and all other
documentation relating thereto, and will furnish to the Administrative Agent from time to time such
statements, schedules and reports (including, without limitation, accounts receivable aging
schedules) with regard to the Collateral as the Administrative Agent may reasonably request.

     (b) Each Pledgor shall, from time to time during business hours as may be reasonably requested
and upon reasonable notice, (i) make available to the Administrative Agent for inspection and
review at such Pledgor’s offices copies of all invoices and other documents and information
relating to the Collateral, and (ii) permit the Administrative Agent or its representatives to
visit its offices or the premises upon which any Collateral may be located, inspect its books and
records and make copies and memoranda thereof, inspect the Collateral, discuss its finances and
affairs with its officers, directors and independent accountants and take any other actions
necessary for the protection of the interests of the Secured Parties in the Collateral. At the
reasonable request of the Administrative Agent, each Pledgor will legend, in form and manner
satisfactory to the Administrative Agent, the books, records and materials evidencing or relating
to the Collateral with an appropriate reference to the fact that the Collateral has been assigned
to the Administrative Agent and that the Administrative Agent has a security interest therein.
Following the occurrence and during the continuance of any Event of Default, the Administrative
Agent shall have the right to make test verifications of Accounts in
any reasonable manner and through any reasonable medium, and each Pledgor agrees to furnish
all such reasonable assistance and information as the Administrative Agent may require in
connection therewith.

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     4.4 Accounts. Unless notified otherwise by the Administrative Agent in accordance
with the terms hereof, each Pledgor shall endeavor to collect its Accounts and all amounts owing to
it thereunder in accordance with sound business practices and shall apply forthwith upon receipt
thereof all such amounts as are so collected to the outstanding balances thereof, and in connection
therewith shall, at the request of the Administrative Agent following the occurrence and during the
continuance of any Event of Default, take such action as the Administrative Agent may deem
necessary or advisable (within applicable laws) to enforce such collection. Each Pledgor shall
promptly notify the Administrative Agent in writing of any Accounts in excess of $1,000,000 that
constitute a claim against a federal governmental agency or authority, and, upon request of the
Administrative Agent, such Pledgor shall take such steps as may be necessary or desirable to comply
with the federal Assignment of Claims Act of 1940, as amended.

     4.5 Delivery of Certain Collateral; Further Actions. All certificates or Instruments
representing or evidencing any Accounts, Investment Property or other Collateral with a value in
excess of $1,500,000 shall be delivered promptly to the Administrative Agent pursuant hereto to be
held as Collateral hereunder, shall be in form suitable for transfer by delivery and shall be
delivered together with undated stock powers duly executed in blank, appropriate endorsements or
other necessary instruments of registration, transfer or assignment, duly executed and in form and
substance satisfactory to the Administrative Agent, and in each case together with such other
instruments or documents as the Administrative Agent may reasonably request. Each Pledgor will, at
its own cost and expense, cooperate with the Administrative Agent in obtaining a control agreement,
in form and substance reasonably satisfactory to the Administrative Agent, and in taking such other
actions as may be requested by the Administrative Agent from time to time with respect to any
Investment Property or other Collateral in which a security interest may be perfected by (or can be
perfected only by) control under the Uniform Commercial Code.

     4.6 Equipment. Each Pledgor will, in accordance with sound business practices,
maintain all material Equipment used by it in its business (other than obsolete Equipment or no
longer useful or desirable) in good repair, working order and condition (normal wear and tear
excepted) and from time to time make all necessary repairs and replacements thereof. No Pledgor
shall knowingly permit any Equipment to become a Fixture to any real property (other than real
property the fee interest in which is subject to a Mortgage in favor of the Administrative Agent).

     4.7 Inventory. Each Pledgor will, in accordance with sound business practices,
maintain all Inventory held by it or on its behalf in good saleable or useable condition. Unless
notified otherwise by the Administrative Agent in accordance with the terms hereof, each Pledgor
may, in accordance with the Credit Agreement and the other Credit Documents, process, use and sell
its Inventory.

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     4.8 Intellectual Property.

     (a) Each applicable Pledgor will, at its own expense, execute and deliver to the
Administrative Agent on the Closing Date fully completed assignments in the forms of Exhibits
A and B, as applicable, for recordation in the U.S. Copyright Office or the U.S. Patent
and Trademark Office with regard to any Copyright Collateral, Patent Collateral or Trademark
Collateral, as the case may be, described in Annex D, E or F hereto. In
the event that after the date hereof any Pledgor shall acquire any registered Copyright, Patent or
Trademark, or effect any registration of any Copyright, Patent or Trademark or file any application
for registration thereof, whether within the United States or any other country or jurisdiction,
such Pledgor shall promptly furnish written notice thereof to the Administrative Agent together
with information sufficient to permit the Administrative Agent, upon its receipt of such notice, to
(and each Pledgor hereby authorizes the Administrative Agent to) modify this Agreement, as
appropriate, by amending Annexes D, E and F hereto or to add additional
exhibits hereto to include any Copyright, Patent or Trademark that becomes part of the Collateral
under this Agreement, and such Pledgor shall additionally, at its own expense, execute and deliver
to the Administrative Agent, as promptly as possible (but in any event within 15 days) after the
date of such acquisition, registration or application, as applicable, with regard to United States
Patents, Trademarks and Copyrights, fully completed assignments in the forms of Exhibits A
and B, as applicable, for recordation in the U.S. Copyright Office or the U.S. Patent and
Trademark Office as more fully described hereinabove, together in all instances with any other
agreements, instruments and documents that the Administrative Agent may reasonably request from
time to time to further effect and confirm the assignment and security interest created by this
Agreement in such Copyrights, Patents and Trademarks, and each Pledgor hereby appoints the
Administrative Agent its attorney-in-fact to execute, deliver and record any and all such
agreements, instruments and documents for the foregoing purposes, all acts of such attorney being
hereby ratified and confirmed and such power, being coupled with an interest, shall be irrevocable
for so long as this Agreement shall be in effect with respect to such Pledgor.

     (b) Each Pledgor (either itself or through its licensees or its sublicensees) will, for each
Trademark that is material to the conduct of its business, use its best efforts to (i) maintain
such Trademark in full force and effect, free from any claim of abandonment or invalidity for
non-use, (ii) maintain the quality of products and services offered under such Trademark, (iii)
display such Trademark with notice of federal registration to the extent required by applicable law
and (iv) not knowingly use or knowingly permit the use of such Trademark in violation of any
third-party rights.

     (c) Each Pledgor (either itself or through its licensees or sublicensees) will refrain from
committing any act, or omitting any act, whereby any Patent that is material to the conduct of such
Pledgor’s business may become invalidated or dedicated to the public, and shall continue to mark
any products covered by a Patent with the relevant patent number as required by applicable patent
laws.

     (d) Each Pledgor (either itself or through its licensees or sublicensees) will, for each work
covered by a Copyright that is material to the conduct of its business or the failure to maintain
would have, individually or in aggregate, a Material Adverse Effect, continue to publish,
reproduce, display, adopt and distribute the work with appropriate copyright notice as required
under applicable copyright laws.

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     (e) Each Pledgor shall notify the Administrative Agent immediately if it knows or has reason
to know that any Patent, Trademark or Copyright may become abandoned or dedicated to the public, or
of any adverse determination or development (including the institution of, or any such
determination or development in, any proceeding in the U.S. Patent and Trademark Office, U.S.
Copyright Office or any court) regarding such Pledgor’s ownership of any Patent, Trademark or
Copyright, its right to register the same, or to keep and maintain the same, to the extent that any
of the foregoing is likely to result in, individually or in the aggregate, a Material Adverse
Effect.

     (f) Each Pledgor will take all necessary steps that are consistent with the practice in any
proceeding before the U.S. Patent and Trademark Office, U.S. Copyright Office or any office or
agency in any political subdivision of the United States or in any other country or any political
subdivision thereof, to maintain and pursue each application relating to any Patents, Trademarks or
Copyrights (and to obtain the relevant grant or registration) and to maintain each registration of
any Patents, Trademarks and Copyrights material to the conduct of such Pledgor’s business,
including the filing of applications for renewal, affidavits of use, affidavits of incontestability
and maintenance fees, and, if consistent with sound business judgment, to initiate opposition,
interference and cancellation proceedings against third parties.

     (g) In the event that any Collateral consisting of a Patent, Trademark or Copyright is
believed infringed, misappropriated or diluted by a third party to the extent that such
infringement, misappropriation or dilution is reasonably expected to cause, individually or in the
aggregate, a Material Adverse Effect, such Pledgor shall notify the Administrative Agent promptly
after it learns thereof and shall, if consistent with sound business judgment, promptly sue for
infringement, misappropriation or dilution and to recover any and all damages for such
infringement, misappropriation or dilution, and take such other actions as are appropriate under
the circumstances to protect such Collateral.

     (h) Upon the occurrence and during the continuance of any Event of Default, if required by the
Required Lenders, each Pledgor shall use its reasonable best efforts to obtain all requisite
consents or approvals from the licensor of each License included within the Copyright Collateral,
Patent Collateral or Trademark Collateral to effect the assignment of all of such Pledgor’s right,
title and interest thereunder to the Administrative Agent or its designee.

     4.9 Mobile Goods. Upon the request of the Administrative Agent at any time, whether
or not an Event of Default shall have occurred and be continuing, each Pledgor will deliver to the
Administrative Agent originals of the certificates of title or ownership, if any, for all Mobile
Goods owned by it, together (in the case of motor vehicles) with the manufacturer’s statement of
origin, if any, with the Administrative Agent listed as lienholder and odometer statements and
together in all other cases with appropriate instruments or certificates of transfer and delivery,
duly completed and executed, and will take such other action as the Administrative Agent may deem
necessary to perfect the security interest created by this Agreement in all such Mobile Goods.

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     4.10 Deposit Accounts. Each Pledgor agrees that, unless the Administrative Agent
consents otherwise in writing, (i) it will not open or maintain any Deposit Account in excess of
$1,000,000 (other than Deposit Accounts used exclusively for payroll purposes) except with the
Administrative Agent or with another bank or financial institution that has executed and
delivered to the Administrative Agent a control agreement with respect to such Deposit Account in
form and substance reasonably satisfactory to the Administrative Agent, (ii) it will use its best
efforts to obtain control agreements with respect to all Deposit Accounts opened or maintained with
a bank or financial institution other than the Administrative Agent within 90 days of the date
hereof or, with respect to Deposit Accounts opened with a bank or financial institution other than
the Administrative Agent after the date hereof, within 90 days of the opening of such Deposit
Account.

     4.11 Securities and Commodity Accounts. Each Pledgor agrees that, unless the
Administrative Agent consents otherwise in writing, (i) it will not open or maintain any Securities
Account or Commodity Account unless the Administrative Agent is the entitlement holder or Commodity
Intermediary or unless the Securities Intermediary or Commodity Intermediary (as applicable) has
executed and delivered to the Administrative Agent a control agreement with respect to such
Securities Account or Commodity Account in form and substance reasonably satisfactory to the
Administrative Agent, and (ii) in the event any Pledgor opens any Securities Account or Commodity
Account not already listed on Annex H, such Pledgor shall (in addition to complying with
the other requirements of this Section) promptly furnish written notice thereof to the
Administrative Agent together with information sufficient to permit the Administrative Agent, upon
its receipt of such notice, to (and each Pledgor hereby authorizes the Administrative Agent to)
modify this Agreement, as appropriate, by amending Annex H to include such information.

     4.12 Collateral in Possession of Third Party. Without limiting the generality of any
other provision of this Agreement, each Pledgor agrees that it shall not permit any Collateral with
an aggregate book value in excess of $1,500,000 to be in the possession of any bailee,
warehouseman, agent, processor or other third party at any time unless such bailee or other Person
shall have been notified of the security interest created by this Agreement (or, if required under
applicable law in order to perfect the Administrative Agent’s security interest in such Collateral,
such bailee or other Person shall have acknowledged to the Administrative Agent in writing that it
is holding such Collateral for the benefit of the Administrative Agent and subject to such security
interest and to the instructions of the Administrative Agent) and such Pledgor shall have exercised
its reasonable best efforts to obtain from such bailee or other Person, at such Pledgor’s sole cost
and expense, the written acknowledgement described above (if not already required by applicable law
to perfect the Administrative Agent’s security interest) and agreement to waive and release any
Lien (whether arising by operation of law or otherwise) it may have with respect to such
Collateral, such agreement to be in form and substance reasonably satisfactory to the
Administrative Agent.

     4.13 Commercial Tort Claims. Each Pledgor agrees that it will, promptly upon becoming
aware of any Commercial Tort Claim in its favor, furnish to the Administrative Agent a description
thereof meeting the requirements of Section 9-108(e) of the Uniform Commercial Code, execute and
deliver such documents, financing statements and other instruments, and take such other action, as
the Administrative Agent may reasonably request in order to include such Commercial Tort Claim as
Collateral hereunder and to perfect the security interest of the Administrative Agent therein.

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     4.14 Protection of Security Interest. Each Pledgor agrees that it will, at its own
cost and expense, take any and all actions necessary in its reasonable business judgment or
reasonably deemed necessary by the Administrative Agent to warrant and defend the right, title and
interest of the Secured Parties in and to the Collateral against the claims and demands of all
other Persons.

ARTICLE V

CERTAIN PROVISIONS RELATING TO PLEDGED INTERESTS

     5.1 After-Acquired Equity Interests; Ownership.

     (a) If any Pledgor shall, at any time and from time to time after the date hereof, acquire any
additional capital stock or other Pledged Interests in any Person of the types described in the
definition of the term “Pledged Interests,” the same shall be automatically deemed to be
Pledged Interests hereunder, and to be pledged to the Administrative Agent pursuant to Section 2.1
(subject, in the case of Pledged Interests in Foreign Subsidiaries, to the limitation set forth in
the proviso in Section 2.1(xviii), and such Pledgor will forthwith pledge and deposit the same with
the Administrative Agent and deliver to the Administrative Agent any certificates therefor,
together with undated stock powers or other necessary instruments of transfer or assignment, duly
executed in blank and in form and substance reasonably satisfactory to the Administrative Agent,
together with such other certificates and instruments as the Administrative Agent may reasonably
request (including Uniform Commercial Code financing statements or appropriate amendments thereto),
and will promptly thereafter deliver to the Administrative Agent a fully completed and duly
executed amendment to this Agreement in the form of Exhibit D (each, a “Pledge
Amendment”) in respect thereof. Each Pledgor hereby authorizes the Administrative Agent to
attach each such Pledge Amendment to this Agreement, and agrees that all such Collateral listed on
any Pledge Amendment shall for all purposes be deemed Collateral hereunder and shall be subject to
the provisions hereof; provided that the failure of any Pledgor to execute and deliver any
Pledge Amendment with respect to any such additional Collateral as required hereinabove shall not
impair the security interest of the Administrative Agent in such Collateral or otherwise adversely
affect the rights and remedies of the Administrative Agent hereunder with respect thereto.

     (b) If any Pledged Interests (whether now owned or hereafter acquired) included in the
Collateral are “uncertificated securities” within the meaning of the Uniform Commercial Code or are
otherwise not evidenced by any certificate or instrument (unless not constituting a “security”
under Article 8 of the Uniform Commercial Code), each applicable Pledgor will (i) promptly notify
the Administrative Agent thereof and will promptly take and cause to be taken, (ii) will (if the
issuer of such uncertificated securities is a Person other than a Subsidiary of the Borrower) use
commercially reasonable efforts to cause the issuer to take, all actions required under Articles 8
and 9 of the Uniform Commercial Code and any other applicable law, to enable the Administrative
Agent to acquire “control” of such uncertificated securities (within the meaning of such term under
Section 8-106 (or its successor provision) of the Uniform Commercial Code) and as may be otherwise
necessary to perfect the security interest of the Administrative Agent therein, and (iii) will not,
except at the request of the Administrative Agent, cause such Pledged Interest to become
certificated.

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     (c) If any Pledged Interests (whether now owned or hereafter acquired) are not “securities”
under Article 8 of the Uniform Commercial Code, the Borrower will not, and will not permit any of
its Subsidiaries to, take any action to cause the issuer of such Pledged Interests to “opt-in” to
Article 8 of the Uniform Commercial Code unless the Administrative Agent shall have given its prior
written consent.

     (d) Except to the extent otherwise expressly permitted by or pursuant to the Credit Agreement,
the Pledgors will cause the Pledged Interests in each issuer pledged hereunder to constitute at all
times 100% of the capital stock or other Pledged Interests in such issuer, such that the issuer
shall be a direct or indirect Wholly Owned Subsidiary of the Borrower (subject, in the case of
Pledged Interests in Foreign Subsidiaries, to the limitation set forth in the proviso in Section
2.1(xviii), and unless the Administrative Agent shall have given its prior written consent or
except as may be expressly permitted by the Credit Agreement, no Pledgor will cause or permit any
such issuer to issue or sell any new capital stock, any warrants, options or rights to acquire the
same, or other Pledged Interests of any nature to any Person other than such Pledgor, or cause,
permit or consent to the admission of any other Person as a stockholder, partner or member of any
such issuer.

     5.2 Voting Rights. So long as no Event of Default shall have occurred and be
continuing, each Pledgor shall be entitled to exercise all voting and other consensual rights
pertaining to its Pledged Interests (subject to its obligations under Section 5.1(a)), and for that
purpose the Administrative Agent will execute and deliver or cause to be executed and delivered to
each applicable Pledgor all such proxies and other instruments as such Pledgor may reasonably
request in writing to enable such Pledgor to exercise such voting and other consensual rights;
provided, however, that no Pledgor will cast any vote, give any consent, waiver or
ratification, or take or fail to take any action, in any manner that would, or could reasonably be
expected to, violate or be inconsistent with any of the terms of this Agreement, the Credit
Agreement or any other Credit Document or have the effect of materially and adversely impairing the
position or interests of the Secured Parties.

     5.3 Dividends and Other Distributions. So long as no Event of Default shall have
occurred and be continuing (or would occur as a result thereof), and except as provided otherwise
herein, all interest, income, dividends, distributions and other amounts payable in cash in respect
of the Pledged Interests may be paid to and retained by the Pledgors; provided,
however, that all such interest, income, dividends, distributions and other amounts shall,
at all times after the occurrence and during the continuance of an Event of Default, be paid to the
Administrative Agent and retained by it as part of the Collateral (except to the extent applied
upon receipt to the repayment of the Secured Obligations). Any and all money and other property
paid over to or received by the Administrative Agent pursuant to the provisions of this Section
shall be retained by the Administrative Agent in a Collateral Account (as hereinafter defined) upon
receipt of such money or other property and shall be applied in accordance with the provisions of
Section 6.2. The Administrative Agent shall, within five (5) Business Days after all Events of
Default have been cured or waived, repay to each applicable Pledgor all cash interest, income,
dividends, distributions and other amounts that such Pledgor would otherwise be permitted to retain
pursuant to the provisions of this Section and that remain in such Collateral Account.

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ARTICLE VI

REMEDIES

     6.1 Remedies. If an Event of Default shall have occurred and be continuing, the
Administrative Agent, at the direction or with the consent of, the Required Lenders, shall be
entitled to exercise in respect of the Collateral all of its rights, powers and remedies provided
for herein or otherwise available to it under any other Credit Document, by law, in equity or
otherwise, including all rights and remedies of a secured party under the Uniform Commercial Code,
and shall be entitled in particular, but without limitation of the foregoing, to exercise the
following rights, which each Pledgor agrees to be commercially reasonable:

     (a) To notify any or all account debtors or obligors under any Accounts, Contracts or other
Collateral of the security interest in favor of the Administrative Agent created hereby and to
direct all such Persons to make payments of all amounts due thereon or thereunder directly to the
Administrative Agent or to an account designated by the Administrative Agent; and in such instance
and from and after such notice, all amounts and Proceeds (including wire transfers, checks and
other Instruments) received by any Pledgor in respect of any Accounts, Contracts or other
Collateral shall be received in trust for the benefit of the Administrative Agent hereunder, shall
be segregated from the other funds of such Pledgor and shall be forthwith deposited into such
account or paid over or delivered to the Administrative Agent in the same form as so received (with
any necessary endorsements or assignments), to be held as Collateral and applied to the Secured
Obligations as provided herein; and by this provision, each Pledgor irrevocably authorizes and
directs each Person who is or shall be a party to or liable for the performance of any Contract,
upon receipt of notice from the Administrative Agent to the effect that an Event of Default has
occurred and is continuing, to attorn to or otherwise recognize the Administrative Agent as owner
under such Contract and to pay, observe and otherwise perform the obligations under such Contract
to or for the Administrative Agent or the Administrative Agent’s designee as though the
Administrative Agent or such designee were such Pledgor named therein, and to do so until otherwise
notified by the Administrative Agent;

     (b) To take possession of, receive, endorse, assign and deliver, in its own name or in the
name of any Pledgor, all checks, notes, drafts and other Instruments relating to any Collateral,
including receiving, opening and properly disposing of all mail addressed to any Pledgor concerning
Accounts and other Collateral; to verify with account debtors or other contract parties the
validity, amount or any other matter relating to any Accounts or other Collateral, in its own name
or in the name of any Pledgor; to accelerate any indebtedness or other obligation constituting
Collateral that may be accelerated in accordance with its terms; to take or bring all actions and
suits deemed necessary or appropriate to effect collections and to enforce payment of any Accounts
or other Collateral; to settle, compromise or release in whole or in part any amounts owing on
Accounts or other Collateral; and to extend the time of payment of any and all Accounts or other
amounts owing under any Collateral and to make allowances and adjustments with respect thereto, all
in the same manner and to the same extent as any Pledgor might have done;

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     (c) To notify any or all depository institutions with which any Deposit Accounts are
maintained and which Deposit Accounts are subject to Control in favor of the Administrative
Agent to remit and transfer all monies, securities and other property on deposit in such
Deposit Accounts or deposited or received for deposit thereafter to the Administrative Agent, for
deposit in a Collateral Account or such other accounts as may be designated by the Administrative
Agent, for application to the Secured Obligations as provided herein;

     (d) To transfer to or register in its name or the name of any of its Administrative Agents or
nominees all or any part of the Collateral, without notice to any Pledgor and with or without
disclosing that such Collateral is subject to the security interest created hereunder;

     (e) To require any Pledgor to, and each Pledgor hereby agrees that it will at its expense and
upon request of the Administrative Agent forthwith, assemble all or any part of the Collateral as
directed by the Administrative Agent and make it available to the Administrative Agent at a place
designated by the Administrative Agent;

     (f) To enter and remain upon the premises of any Pledgor and take possession of all or any
part of the Collateral, with or without judicial process; to use the materials, services, books and
records of any Pledgor for the purpose of liquidating or collecting the Collateral, whether by
foreclosure, auction or otherwise; and to remove the same to the premises of the Administrative
Agent or any designated agent for such time as the Administrative Agent may desire, in order to
effectively collect or liquidate the Collateral;

     (g) To exercise (i) all voting, consensual and other rights and powers pertaining to the
Pledged Interests (whether or not transferred into the name of the Administrative Agent), at any
meeting of shareholders, partners, members or otherwise, and (ii) any and all rights of conversion,
exchange, subscription and any other rights, privileges or options pertaining to the Pledged
Interests as if it were the absolute owner thereof (including, without limitation, the right to
exchange at its discretion any and all of the Pledged Interests upon the merger, consolidation,
reorganization, reclassification, combination of shares or interests, similar rearrangement or
other similar fundamental change in the structure of the applicable issuer, or upon the exercise by
any Pledgor or the Administrative Agent of any right, privilege or option pertaining to such
Pledged Interests), and in connection therewith, the right to deposit and deliver any and all of
the Pledged Interests with any committee, depositary, transfer agent, registrar or other designated
agency upon such terms and conditions as the Administrative Agent may determine, and give all
consents, waivers and ratifications in respect of the Pledged Interests, all without liability
except to account for any property actually received by it, but the Administrative Agent shall have
no duty to exercise any such right, privilege or option or give any such consent, waiver or
ratification and shall not be responsible for any failure to do so or delay in so doing; and for
the foregoing purposes each Pledgor will promptly execute and deliver or cause to be executed and
delivered to the Administrative Agent, upon request, all such proxies and other instruments as the
Administrative Agent may reasonably request to enable the Administrative Agent to exercise such
rights and powers; AND IN FURTHERANCE OF THE FOREGOING AND WITHOUT LIMITATION THEREOF, EACH PLEDGOR
HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS THE AGENT AS THE TRUE AND LAWFUL PROXY AND
ATTORNEY-IN-FACT OF SUCH PLEDGOR, WITH FULL POWER OF SUBSTITUTION IN THE PREMISES, TO EXERCISE ALL
SUCH VOTING, CONSENSUAL AND OTHER RIGHTS AND POWERS TO WHICH ANY HOLDER OF ANY PLEDGED INTERESTS
WOULD BE ENTITLED BY VIRTUE OF HOLDING THE SAME, WHICH PROXY AND POWER OF
ATTORNEY, BEING COUPLED WITH AN INTEREST, IS IRREVOCABLE AND SHALL BE EFFECTIVE FOR SO LONG AS
THIS AGREEMENT SHALL BE IN EFFECT; and

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     (h) To sell, resell, assign and deliver, in its sole discretion, all or any of the Collateral,
in one or more parcels, on any securities exchange on which any Pledged Interests may be listed, at
public or private sale, at any of the Administrative Agent’s offices or elsewhere, for cash, upon
credit or for future delivery, at such time or times and at such price or prices and upon such
other terms as the Administrative Agent may deem satisfactory. If any of the Collateral is sold by
the Administrative Agent upon credit or for future delivery, the Administrative Agent shall not be
liable for the failure of the purchaser to purchase or pay for the same and, in the event of any
such failure, the Administrative Agent may resell such Collateral. In no event shall any Pledgor
be credited with any part of the Proceeds of sale of any Collateral until and to the extent cash
payment in respect thereof has actually been received by the Administrative Agent. Each purchaser
at any such sale shall hold the property sold absolutely, free from any claim or right of
whatsoever kind, including any equity or right of redemption of any Pledgor, and each Pledgor
hereby expressly waives all rights of redemption, stay or appraisal, and all rights to require the
Administrative Agent to marshal any assets in favor of such Pledgor or any other party or against
or in payment of any or all of the Secured Obligations, that it has or may have under any rule of
law or statute now existing or hereafter adopted. No demand, presentment, protest, advertisement
or notice of any kind (except any notice required by law, as referred to below), all of which are
hereby expressly waived by each Pledgor, shall be required in connection with any sale or other
disposition of any part of the Collateral. If any notice of a proposed sale or other disposition
of any part of the Collateral shall be required under applicable law, the Administrative Agent
shall give the applicable Pledgor at least ten (10) days’ prior notice of the time and place of any
public sale and of the time after which any private sale or other disposition is to be made, which
notice each Pledgor agrees is commercially reasonable. The Administrative Agent shall not be
obligated to make any sale of Collateral if it shall determine not to do so, regardless of the fact
that notice of sale may have been given. The Administrative Agent may, without notice or
publication, adjourn any public or private sale or cause the same to be adjourned from time to time
by announcement at the time and place fixed for sale, and such sale may, without further notice, be
made at the time and place to which the same was so adjourned. Upon each public sale and, to the
extent permitted by applicable law, upon each private sale, the Administrative Agent may purchase
all or any of the Collateral being sold, free from any equity, right of redemption or other claim
or demand, and may make payment therefor by endorsement and application (without recourse) of the
Secured Obligations in lieu of cash as a credit on account of the purchase price for such
Collateral.

     6.2 Application of Proceeds.

     (a) All Proceeds collected by the Administrative Agent upon any sale, other disposition of or
realization upon any of the Collateral, together with all other moneys received by the
Administrative Agent hereunder, shall be applied in accordance with the provisions of Section 2.12
of the Credit Agreement. For purposes of applying amounts in accordance with this Section, the
Administrative Agent shall be entitled to rely upon any Secured Party that has entered into a
Permitted Hedge Agreement with the Borrower for a determination (which such Secured Party agrees to
provide or cause to be provided upon request of the Administrative Agent) of the outstanding
Secured Obligations owed to such Secured Party under any such
Permitted Hedge Agreement. Unless it has actual knowledge (including by way of written notice
from any such Secured Party) to the contrary, the Administrative Agent, in acting hereunder, shall
be entitled to assume that no Permitted Hedge Agreements or Secured Obligations in respect thereof
are in existence between any Secured Party and the Borrower. If any Lender or Affiliate thereof
that is a party to a Permitted Hedge Agreement with the Borrower (the obligations of the Borrower
under which are Secured Obligations) ceases to be a Lender or Affiliate thereof, such former Lender
or Affiliate thereof shall nevertheless continue to be a Secured Party hereunder with respect to
the Secured Obligations under such Permitted Hedge Agreement.

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     (b) In the event that the proceeds of any such sale, disposition or realization are
insufficient to pay all amounts to which the Secured Parties are legally entitled, the Pledgors
shall be jointly and severally liable for the deficiency, together with interest thereon at the
highest rate specified in any applicable Credit Document for interest on overdue principal or such
other rate as shall be fixed by applicable law, together with the costs of collection and all other
fees, costs and expenses payable hereunder.

     (c) Upon any sale of any Collateral hereunder by the Administrative Agent (whether by virtue
of the power of sale herein granted, pursuant to judicial proceeding, or otherwise), the receipt of
the Administrative Agent or the officer making the sale shall be a sufficient discharge to the
purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be
obligated to see to the application of any part of the purchase money paid over to the
Administrative Agent or such officer or be answerable in any way for the misapplication thereof.

     6.3 Collateral Accounts. Upon the occurrence and during the continuance of an Event
of Default, the Administrative Agent shall have the right to cause to be established and
maintained, at its principal office or such other location or locations as it may establish from
time to time in its discretion, one or more accounts (collectively, “Collateral Accounts”)
for the collection of cash Proceeds of the Collateral. Such Proceeds, when deposited, shall
continue to constitute Collateral for the Secured Obligations and shall not constitute payment
thereof until applied as herein provided. The Administrative Agent shall have sole dominion and
control over all funds deposited in any Collateral Account, and such funds may be withdrawn
therefrom only by the Administrative Agent. Upon the occurrence and during the continuance of an
Event of Default, the Administrative Agent shall have the right to (and, if directed by the
Required Lenders pursuant to the Credit Agreement, shall) apply amounts held in the Collateral
Accounts in payment of the Secured Obligations in the manner provided for in Section 6.2.

     6.4 Grant of License. Each Pledgor hereby grants to the Administrative Agent an
irrevocable, non-exclusive license (exercisable without payment of royalty or other compensation to
any Pledgor) to use, license or sublicense any Patent Collateral, Trademark Collateral or Copyright
Collateral now owned or licensed or hereafter acquired or licensed by such Pledgor, wherever the
same may be located throughout the world, for such term or terms, on such conditions and in such
manner as the Administrative Agent shall determine, whether general, special or otherwise, and
whether on an exclusive or nonexclusive basis, and including in such license reasonable access to
all media in which any of the licensed items may be recorded or stored and to all computer software
and programs used for the compilation or printout thereof. The use of such license or sublicense
by the Administrative Agent shall be
exercised, at the option of the Administrative Agent, only upon the occurrence and during the
continuation of an Event of Default; provided that any license, sublicense or other
transaction entered into by the Administrative Agent in accordance herewith shall be binding upon
each applicable Pledgor notwithstanding any subsequent cure of an Event of Default.

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     6.5 Private Sales.

     (a) Each Pledgor recognizes that the Administrative Agent may be compelled, at any time after
the occurrence and during the continuance of an Event of Default, to conduct any sale of all or any
part of the Pledged Interests without registering or qualifying such Pledged Interests under the
Securities Act of 1933, as amended (the “Securities Act”), and/or any applicable state
securities laws in effect at such time. Each Pledgor acknowledges that any such private sales may
be made in such manner and under such circumstances as the Administrative Agent may deem necessary
or advisable in its sole and absolute discretion, including at prices and on terms that might be
less favorable than those obtainable through a public sale without such restrictions (including,
without limitation, a public offering made pursuant to a registration statement under the
Securities Act), and, notwithstanding such circumstances, agrees that any such sale shall not be
deemed not to have been made in a commercially reasonable manner solely because it was conducted as
a private sale, and agrees that the Administrative Agent shall have no obligation to conduct any
public sales and no obligation to delay the sale of any Pledged Interests for the period of time
necessary to permit its registration for public sale under the Securities Act and applicable state
securities laws, and shall not have any responsibility or liability as a result of its election so
not to conduct any such public sales or delay the sale of any Pledged Interests, notwithstanding
the possibility that a substantially higher price might be realized if the sale were deferred until
after such registration. Each Pledgor hereby waives any claims against the Administrative Agent or
any other Secured Party arising by reason of the fact that the price at which any Pledged Interests
may have been sold at any private sale was less than the price that might have been obtained at a
public sale or was less than the aggregate amount of the Secured Obligations, even if the
Administrative Agent accepts the first offer received and does not offer such Pledged Interests to
more than one offeree.

     (b) Each Pledgor agrees that a breach of any of the covenants contained in this Section will
cause irreparable injury to the Administrative Agent and the other Secured Parties, that the
Administrative Agent and the other Secured Parties have no adequate remedy at law in respect of
such breach and, as a consequence, that each and every covenant contained in this Section shall be
specifically enforceable against the Pledgors.

     6.6 The Pledgors Remain Liable. Notwithstanding anything herein to the contrary, (i)
the Administrative Agent shall not have any duty, obligation or liability by reason of this
Agreement under any Contract to which any Pledgor is a party, and Pledgor shall retain all of its
duties and obligations under all Contracts to which it is a party included within the Collateral
(including, without limitation, all Ownership Agreements) to the same extent as if this Agreement
had not been executed, (ii) the exercise by the Administrative Agent of any of its rights or
remedies hereunder shall not release any Pledgor from any of its obligations under any of such
Contracts, and (iii) except as specifically provided for hereinbelow, the Administrative Agent
shall not be obligated to perform any of the obligations or duties of any Pledgor thereunder or to
take any action to collect or enforce any claim for payment assigned hereunder.

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     The powers, rights and remedies conferred on the Administrative Agent hereunder are solely to
protect its interest and privilege in such Contracts, as Collateral, and shall not impose any duty
upon it to exercise any such powers, rights or remedies.

     6.7 Waivers. Each Pledgor, to the greatest extent not prohibited by applicable law,
hereby (i) agrees that it will not invoke, claim or assert the benefit of any rule of law or
statute now or hereafter in effect (including, without limitation, any right to prior notice or
judicial hearing in connection with the Administrative Agent’s possession, custody or disposition
of any Collateral or any appraisal, valuation, stay, extension, moratorium or redemption law), or
take or omit to take any other action, that would or could reasonably be expected to have the
effect of delaying, impeding or preventing the exercise of any rights and remedies in respect of
the Collateral, the absolute sale of any of the Collateral or the possession thereof by any
purchaser at any sale thereof, and waives the benefit of all such laws and further agrees that it
will not hinder, delay or impede the execution of any power granted hereunder to the Administrative
Agent, but that it will permit the execution of every such power as though no such laws were in
effect, (ii) waives all rights that it has or may have under any rule of law or statute now
existing or hereafter adopted to require the Administrative Agent to marshal any Collateral or
other assets in favor of such Pledgor or any other party or against or in payment of any or all of
the Secured Obligations, and (iii) waives all rights that it has or may have under any rule of law
or statute now existing or hereafter adopted to demand, presentment, protest, advertisement or
notice of any kind (except notices expressly provided for herein). In addition, each Pledgor
waives any and all rights of contribution or subrogation upon the sale or disposition of all or any
portion of the Collateral by the Administrative Agent to the extent set forth in the Credit
Agreement and the Guaranty.

ARTICLE VII

THE ADMINISTRATIVE AGENT

     7.1 The Administrative Agent; Standard of Care. The Administrative Agent will hold
all items of the Collateral at any time received under this Agreement in accordance with the
provisions hereof. The obligations of the Administrative Agent as holder of the Collateral and
interests therein and with respect to the disposition thereof, and otherwise under this Agreement
and the other Credit Documents, are only those expressly set forth in this Agreement and the other
Credit Documents. The Administrative Agent shall act hereunder at the direction, or with the
consent, of the Required Lenders on the terms and conditions set forth in the Credit Agreement.
The powers conferred on the Administrative Agent hereunder are solely to protect its interest, on
behalf of the Secured Parties, in the Collateral, and shall not impose any duty upon it to exercise
any such powers. Except for treatment of the Collateral in its possession in a manner
substantially equivalent to that which the Administrative Agent, in its individual capacity,
accords its own property of a similar nature, and the accounting for moneys actually received by it
hereunder, the Administrative Agent shall have no duty as to any Collateral or as to the taking of
any necessary steps to preserve rights against prior parties or any other rights pertaining to the
Collateral. Neither the Administrative Agent nor any other Secured Party shall be liable to any
Pledgor (i) for any loss or damage sustained by such Pledgor, or (ii) for any loss, damage,
depreciation or other diminution in the value of any of the Collateral that may occur as a result
of or in connection with or that is in any way related to any exercise by the Administrative Agent
or any other Secured Party of any right or remedy under this Agreement, any failure to
demand, collect or realize upon any of the Collateral or any delay in doing so, or any other
act or failure to act on the part of the Administrative Agent or any other Secured Party, except to
the extent that the same is caused by its own gross negligence or willful misconduct.

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     7.2 Further Assurances; Attorney-in-Fact.

     (a) Each Pledgor hereby irrevocably authorizes the Administrative Agent at any time and from
time to time to file in any filing office in any Uniform Commercial Code jurisdiction any financing
statements and amendments thereto that (a) indicate the Collateral (i) as all assets of such
Pledgor or words of similar effect, regardless of whether any particular asset included within the
Collateral falls within the scope of Article 9 of the Uniform Commercial Code of any such
jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) provide
any other information required by Part 5 of Article 9 of the Uniform Commercial Code for the
sufficiency or filing office acceptance of any financing statement or amendment.

     (b) Each Pledgor agrees that it will do such further acts and things (including, without
limitation, making any notice filings with state tax or revenue authorities required to be made by
account creditors in order to enforce any Accounts in such state) and to execute and deliver to the
Administrative Agent such additional conveyances, assignments, agreements and instruments as the
Administrative Agent may reasonably require or deem advisable to perfect, establish, confirm and
maintain the security interest and Lien provided for herein, to carry out the purposes of this
Agreement or to further assure and confirm unto the Administrative Agent its rights, powers and
remedies hereunder.

     (c) Each Pledgor hereby irrevocably appoints the Administrative Agent its lawful
attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of
such Pledgor, the Administrative Agent or otherwise, and with full power of substitution in the
premises (which power of attorney, being coupled with an interest, is irrevocable for so long as
this Agreement shall be in effect), from time to time in the Administrative Agent’s discretion
after the occurrence and during the continuance of an Event of Default (except for the actions
described in clause (i) below, which may be taken by the Administrative Agent without regard to
whether an Event of Default has occurred) to take any action and to execute any instruments that
the Administrative Agent may deem necessary or advisable to accomplish the purpose of this
Agreement, including, without limitation:

     (i) to sign the name of such Pledgor on any financing statement, continuation
statement, notice or other similar document that, in the Administrative Agent’s opinion,
should be made or filed in order to perfect or continue perfected the security interest
granted under this Agreement (including, without limitation, any title or ownership
applications for filing with applicable state agencies to enable any motor vehicles now or
hereafter owned by such Pledgor to be retitled and the Administrative Agent listed as
lienholder thereon);

     (ii) to ask, demand, collect, sue for, recover, compound, receive and give acquittance
and receipts for moneys due and to become due under or in respect of any of the Collateral;

24

 

     (iii) to receive, endorse and collect any checks, drafts, Instruments, Chattel Paper
and other orders for the payment of money made payable to such Pledgor representing any
interest, income, dividend, distribution or other amount payable in respect of any of the
Collateral and to give full discharge for the same;

     (iv) to obtain, maintain and adjust any property or casualty insurance required to be
maintained by such Pledgor under Section 6.7 of the Credit Agreement and direct the payment
of proceeds thereof to the Administrative Agent;

     (v) to pay or discharge taxes, Liens or other encumbrances levied or placed on or
threatened against the Collateral, the legality or validity thereof and the amounts
necessary to discharge the same to be determined by the Administrative Agent in its sole
discretion, any such payments made by the Administrative Agent to become Secured Obligations
of the Pledgors to the Administrative Agent, due and payable immediately and without demand;

     (vi) to file any claims or take any action or institute any proceedings that the
Administrative Agent may deem necessary or advisable for the collection of any of the
Collateral or otherwise to enforce the rights of the Administrative Agent with respect to
any of the Collateral; and

     (vii) to use, sell, assign, transfer, pledge, make any agreement with respect to or
otherwise deal with any and all of the Collateral as fully and completely as though the
Administrative Agent were the absolute owner of the Collateral for all purposes, and to do
from time to time, at the Administrative Agent’s option and the Pledgors’ expense, all other
acts and things deemed necessary by the Administrative Agent to protect, preserve or realize
upon the Collateral and to more completely carry out the purposes of this Agreement.

     (d) If any Pledgor fails to perform any covenant or agreement contained in this Agreement
after written request to do so by the Administrative Agent (provided that no such request shall be
necessary at any time after the occurrence and during the continuance of an Event of Default), the
Administrative Agent may itself perform, or cause the performance of, such covenant or agreement
and may take any other action that it deems necessary and appropriate for the maintenance and
preservation of the Collateral or its security interest therein, and the reasonable expenses so
incurred in connection therewith shall be payable by the Pledgors under Section 8.1.

ARTICLE VIII

MISCELLANEOUS

     8.1 Indemnity and Expenses. The Pledgors agree jointly and severally:

     (a) To indemnify and hold harmless the Administrative Agent, each other Secured Party and each
of their respective directors, officers, employees, agents and affiliates from and against any and
all claims, damages, demands, losses, obligations, judgments and liabilities (including, without
limitation, reasonable attorneys’ fees and expenses) in any way arising out of
or in connection with this Agreement and the transactions contemplated hereby, except to the
extent the same shall arise as a result of the gross negligence or willful misconduct of the party
seeking to be indemnified; and

25

 

     (b) To pay the reasonable fees and expenses of counsel to the Administrative Agent and to
reimburse the Administrative Agent upon demand for all reasonable costs and expenses incurred by
it, in each case in connection with (i) the creation, perfection and maintenance of the perfection
of the Administrative Agent’s Liens upon the Collateral, including, without limitation, Lien
search, filing and recording fees, (ii) the custody, use or preservation of, or the sale of,
collection from or other realization upon, any of the Collateral, including the reasonable expenses
of re-taking, holding, preparing for sale or lease, selling or otherwise disposing of or realizing
on the Collateral, (iii) the exercise or enforcement of any rights or remedies granted hereunder,
under any of the other Credit Documents or otherwise available to it (whether at law, in equity or
otherwise), or (iv) the failure by any Pledgor to perform or observe any of the provisions hereof.
The provisions of this Section shall survive the execution and delivery of this Agreement, the
repayment of any of the Secured Obligations, the termination of the Commitments and the termination
or expiration of all Letters of Credit under the Credit Agreement, the termination of this
Agreement or any other Credit Document, and the termination of, and settlement of the Borrower’s
obligations under, any Permitted Hedge Agreement to which any Hedge Party is a party.

     8.2 No Waiver. The rights and remedies of the Secured Parties expressly set forth in
this Agreement and the other Credit Documents are cumulative and in addition to, and not exclusive
of, all other rights and remedies available at law, in equity or otherwise. No failure or delay on
the part of any Secured Party in exercising any right, power or privilege shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right, power or privilege preclude
any other or further exercise thereof or the exercise of any other right, power or privilege or be
construed to be a waiver of any Default or Event of Default. No course of dealing between the
Pledgors and the Secured Parties or their agents or employees shall be effective to amend, modify
or discharge any provision of this Agreement or any other Credit Document or to constitute a waiver
of any Default or Event of Default. No notice to or demand upon any Pledgor in any case shall
entitle such Pledgor or any other Pledgor to any other or further notice or demand in similar or
other circumstances or constitute a waiver of the right of any Secured Party to exercise any right
or remedy or take any other or further action in any circumstances without notice or demand.

     8.3 Enforcement. By its acceptance of the benefits of this Agreement, each Lender
agrees that this Agreement may be enforced only by the Administrative Agent, acting upon the
instructions or with the consent of the Required Lenders as provided for in the Credit Agreement,
and that no Lender shall have any right individually to enforce or seek to enforce this Agreement
or to realize upon any Collateral or other security given to secure the payment and performance of
the Secured Obligations.

     8.4 Amendments, Waivers, etc. No amendment, modification, waiver, discharge or
termination of, or consent to any departure by any Pledgor from, any provision of this Agreement,
shall be effective unless in a writing signed by the Administrative Agent and such of the Lenders
as may be required under the provisions of the Credit Agreement to concur in the
action then being taken, and then the same shall be effective only in the specific instance
and for the specific purpose for which given.

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     8.5 Continuing Security Interest; Term; Successors and Assigns; Assignment; Termination
and Release; Survival. This Agreement shall create a continuing security interest in the
Collateral and shall secure the payment and performance of all of the Secured Obligations as the
same may arise and be outstanding at any time and from time to time from and after the date hereof,
and shall (i) remain in full force and effect until the occurrence of the Termination Requirements
(as hereinafter defined), (ii) be binding upon and enforceable against each Pledgor and its
successors and assigns (provided, however, that no Pledgor may sell, assign or
transfer any of its rights, interests, duties or obligations hereunder without the prior written
consent of the Lenders) and (iii) inure to the benefit of and be enforceable by each Secured Party
and its successors and assigns. Upon any sale or other disposition by any Pledgor of any
Collateral in a transaction expressly permitted hereunder or under or pursuant to the Credit
Agreement or any other applicable Credit Document, the Lien and security interest created by this
Agreement in and upon such Collateral shall be automatically released, and upon the satisfaction of
all of the Termination Requirements, this Agreement and the Lien and security interest created
hereby shall terminate (provided that the provisions of Section 6.7 shall survive the termination
of this Agreement); and in connection with any such release or termination, the Administrative
Agent, at the request and expense of the applicable Pledgor, will execute and deliver to such
Pledgor such documents and instruments evidencing such release or termination as such Pledgor may
reasonably request and will assign, transfer and deliver to such Pledgor, without recourse and
without representation or warranty, such of the Collateral as may then be in the possession of the
Administrative Agent (or, in the case of any partial release of Collateral, such of the Collateral
so being released as may be in its possession). All representations, warranties, covenants and
agreements herein shall survive the execution and delivery of this Agreement and any Pledgor
Accession. For purposes of this Agreement, “Termination Requirements” means (x) the
payment in full in cash of the Secured Obligations (other than contingent and indemnification
obligations not then due and payable), (y) the termination of the Commitments and the termination
or expiration of all Letters of Credit under the Credit Agreement, and (z) the termination of, and
settlement of all obligations of the Borrower under, each Permitted Hedge Agreement to which any
Hedge Party is a party.

     8.6 Additional Pledgors. Each Pledgor recognizes that the provisions of the Credit
Agreement require Persons that become Subsidiaries of the Borrower, and that are not already
parties hereto, to execute and deliver a Pledgor Accession, whereupon each such Person shall become
a Pledgor hereunder with the same force and effect as if originally a Pledgor hereunder on the date
hereof, and agrees that its obligations hereunder shall not be discharged, limited or otherwise
affected by reason of the same, or by reason of the Administrative Agent’s actions in effecting the
same or in releasing any Pledgor hereunder, in each case without the necessity of giving notice to
or obtaining the consent of such Pledgor or any other Pledgor.

     8.7 Notices. All notices and other communications provided for hereunder shall be
given to the parties in the manner and subject to the other notice provisions set forth in the
Credit Agreement and the Guaranty Agreement.

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     8.8 Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of North Carolina (without regard to the conflicts of law
provisions thereof).

     8.9 Severability. To the extent any provision of this Agreement is prohibited by or
invalid under the applicable law of any jurisdiction, such provision shall be ineffective only to
the extent of such prohibition or invalidity and only in such jurisdiction, without prohibiting or
invalidating such provision in any other jurisdiction or the remaining provisions of this Agreement
in any jurisdiction.

     8.10 Construction. The headings of the various sections and subsections of this
Agreement have been inserted for convenience only and shall not in any way affect the meaning or
construction of any of the provisions hereof. Unless the context otherwise requires, words in the
singular include the plural and words in the plural include the singular.

     8.11 Counterparts. This Agreement may be executed in any number of counterparts and
by different parties hereto on separate counterparts, each of which when so executed and delivered
shall be an original, but all of which shall together constitute one and the same instrument.

[The remainder of this page left blank intentionally.]

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

	 	 	 	 	 
	 	BORROWER:

SWISHER HYGIENE INC.

 	 
	 	By:  	/s/
 	 
	 	 	Hugh H. Cooper 	 
	 	 	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	PLEDGORS:

SWISHER INTERNATIONAL, INC.

HB SERVICE, LLC

SWISHER HYGIENE FRANCHISE CORP.

SWISHER PEST CONTROL CORP.

SWISHER MAID, INC.

SHFC FINANCE, LLC

SERVICE MINNEAPOLIS, LLC

SHFC OPERATIONS, LLC

EXPRESS RESTAURANT EQUIPMENT

     SERVICE, INC.

SERVICE ARKANSAS, LLC

SERVICE BALTIMORE, LLC

SERVICE BEVERLY HILLS, LLC

SERVICE BIRMINGHAM, LLC

SERVICE CALIFORNIA, LLC

SERVICE CAROLINA, LLC

SERVICE CENTRAL FL, LLC

SERVICE CHARLOTTE LLC

SERVICE CHATTANOOGA, LLC

SERVICE CINCINNATI, LLC

 	 
	 	By:  	/s/
 	 
	 	 	Hugh H. Cooper 	 
	 	 	Chief Financial Officer 	 
	 

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Signature Page to Pledge and Security Agreement

 

 

	 	 	 	 	 
	 	SERVICE COLUMBIA, LLC

SERVICE COLUMBUS, LLC

SERVICE DC, LLC

SERVICE DENVER, LLC

SERVICE FLORIDA, LLC

SERVICE GAINESVILLE, LLC

SERVICE GOLD COAST, LLC

SERVICE GREENSBORO, LLC

SERVICE GREENVILLE, LLC

SERVICE GULF COAST, LLC

SERVICE HAWAII, LLC

SERVICE HOUSTON, LLC

SERVICE LAS VEGAS, LLC

SERVICE LOUISVILLE, LLC

SERVICE MEMPHIS, LLC

SERVICE MICHIGAN, LLC

SERVICE MIDATLANTIC, LLC

SERVICE MIDWEST, LLC

SERVICE NASHVILLE, LLC

SERVICE NEW ENGLAND, LLC

SERVICE NEW MEXICO, LLC

SERVICE NEW ORLEANS, LLC

SERVICE NORTH, LLC

SERVICE NORTH-CENTRAL, LLC

SERVICE OKLAHOMA CITY, LLC

SERVICE PHILADELPHIA, LLC

SERVICE PHOENIX, LLC

SERVICE PORTLAND, LLC

SERVICE RALEIGH, LLC

SERVICE SALT LAKE CITY, LLC

SERVICE SEATTLE, LLC

SERVICE SOUTH, LLC

SERVICE ST. LOUIS, LLC

SERVICE TALLAHASSEE, LLC

SERVICE TAMPA, LLC

SERVICE TRI-CITIES, LLC

SERVICE VIRGINIA, LLC

 	 
	 	By:  	/s/
 	 
	 	 	Hugh H. Cooper 	 
	 	 	Chief Financial Officer 	 
	 

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	 	SERVICE WEST COAST, LLC

SERVICE WESTERN PENNSYLVANIA, LLC

FOUR-STATE HYGIENE, INC.

INTEGRATED BRANDS INC.

ESKIMO PIE CORPORATION

CHOICE ENVIRONMENTAL SERVICES, INC.

CHOICE ENVIRONMENTAL SERVICES

     OF MIAMI, INC.

CHOICE ENVIRONMENTAL SERVICES

     OF BROWARD, INC.

CHOICE ENVIRONMENTAL SERVICES

     OF DADE COUNTY, INC.

CHOICE ENVIRONMENTAL SERVICES

     OF COLLIER, INC.

CHOICE RECYCLING SERVICES

     OF MIAMI, INC.

CHOICE ENVIRONMENTAL SERVICES

     OF ST. LUCIE, INC.

CHOICE RECYCLING SERVICES

     OF BROWARD, INC.

CHOICE ENVIRONMENTAL SERVICES

     OF LEE COUNTY, INC.

CHOICE ENVIRONMENTAL SERVICES

     OF HIGHLANDS COUNTY, INC.

 	 
	 	 	 
	 	 	 
	 	 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	                                             /s/
 	 
	 	 	Hugh H. Cooper 	 
	 	 	Chief Financial Officer 	 
	 

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Accepted and agreed to:

	 	 	 	 	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION,

     as Administrative Agent

 	 
	By:  	/s/
 	 
	 	Cavan H. Harris 	 
	 	Senior Vice President 	 
	 

Signature Page to Pledge and Security Agreement

 

 

ANNEX A

FILING LOCATIONS

	 	 	 	 	 	 
	 
	 	Name of Pledgor	 	 	Filing Location	 
	 	 

	 	 	Secretary of State of                      	 
	 	 

	 	 	Secretary of State of                      	 
	 	 

	 	 	Secretary of State of                      	 
	 	 

	 	 	Secretary of State of                      	 
	 

 

 

ANNEX B

JURISDICTION OF ORGANIZATION, CERTAIN LOCATIONS

     *The Chief Executive Office Address and the Location of Books and Records Related to Collateral for
all entities listed on this Annex B is: 4725 Piedmont Row Dr., Suite 400, Charlotte, NC 28210

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	Jurisdiction of	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Trade/fictitious or prior	 	 	 	Names used in tax	 	 
	 	 	 	 	Incorporation/	 	 	 	Federal Tax	 	 	 	Org. ID number:	 	 	 	 	 	 	 	 	 	 	 	 	 	corporate names (last five	 	 	 	filings (last five	 	 
	 	Exact Legal Name	 	 	Organization:	 	 	 	ID number:	 	 	 	 	 	 	 	 	Locations of Equipment or Inventory:	 	 	 	Other places of business:	 	 	 	years):	 	 	 	years):	 	 
	 	Swisher Hygiene Inc.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	[List Subsidiaries]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

 

 

ANNEX C

PLEDGED INTERESTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Percentage of
	 	 	 	 	 	 	 	 	Outstanding
	 	 	Type of	 	Certificate	 	No. of shares	 	Interests
	Name of Issuer	 	Interests	 	Number	 	(if applicable)	 	in Issuer
	 

	 	 
	 	 
	 	 
	 	 

 

 

ANNEX D 
 

COPYRIGHTS AND COPYRIGHT APPLICATIONS

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Issue or
	Pledgor	 	Application or Registration No.	 	Country	 	Filing Date
	 

	 	 
	 	 
	 	 
	 	 	 	 	 	 	 

 

 

ANNEX E

PATENTS AND PATENT APPLICATIONS

	 	 	 	 	 	 	 	 	 
	 	 	Application or	 	 	 	 	 	Issue or
	Pledgor	 	Registration No.	 	Country	 	Inventor	 	Filing Date
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 

 

 

ANNEX F

TRADEMARKS AND TRADEMARK APPLICATIONS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Application or	 	 	 	Issue or
	Pledgor	 	Mark	 	Registration No.	 	Country	 	Filing Date
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 

 

 

ANNEX G

DEPOSIT ACCOUNTS

 

 

ANNEX H

SECURITIES ACCOUNTS

 

 

ANNEX I

COMMERCIAL TORT CLAIMS

[None.]

 

 

EXHIBIT A

GRANT OF SECURITY INTEREST

IN COPYRIGHTS

     WHEREAS, [NAME OF PLEDGOR] (the “Pledgor”) is the owner of the copyright applications
and registrations listed on Schedule A attached hereto (all such copyrights, registrations
and applications, collectively, the “Copyrights”); and

     WHEREAS, the Pledgor has entered into a Pledge and Security Agreement (as amended, modified,
restated or supplemented from time to time, the “Security Agreement”), dated as of
                     , 2011, in which the Pledgor has agreed with Wells Fargo Bank, National Association,
as Administrative Agent (the “Administrative Agent”), with offices at 1525 W. W.T. Harris
Blvd, Building 3A2, Mailcode NC 0680, Charlotte, North Carolina 28262, to execute this Assignment;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, as security for the payment and performance of the Secured Obligations (as
defined in the Security Agreement), the Pledgor does hereby grant to the Administrative Agent a
security interest in all of its right, title and interest in and to the Copyrights, and the use
thereof, together with all proceeds and products thereof. This Grant has been given in conjunction
with the security interest granted to the Administrative Agent under the Security Agreement, and
the provisions of this Grant are without prejudice to and in addition to the provisions of the
Security Agreement, which are incorporated herein by this reference.

	 	 	 	 	 
	 	[NAME OF PLEDGOR]

 	 
	 	By:  	/s/
 	 
	 	 	Title:  	 
	 	 	 	 

 

 

	 	 	 	 	 

Schedule A

COPYRIGHTS AND COPYRIGHT APPLICATIONS

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Registration or
	Owner	 	Application or Registration No.	 	Country	 	Filing Date
	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 

 

 

EXHIBIT B

GRANT OF SECURITY INTEREST

IN PATENTS AND TRADEMARKS

     WHEREAS, [NAME OF PLEDGOR] (the “Pledgor”) is the owner of the trademark applications
and registrations listed on Schedule A attached hereto, (all such trademarks, registrations
and applications, collectively, the “Trademarks”) and is the owner of the patents and
patent applications listed on Schedule A attached hereto (all such patents, registrations
and applications, collectively, the “Patents”); and

     WHEREAS, the Pledgor has entered into a Pledge and Security Agreement (as amended, modified,
restated or supplemented from time to time, the “Security Agreement”), dated as of
                     , 2011, in which the Pledgor has agreed with Wells Fargo Bank, National Association,
as Administrative Agent (the “Administrative Agent”), with offices at 1525 W. W.T. Harris
Blvd, Building 3A2, Mailcode NC 0680, Charlotte, North Carolina 28262, to execute this Grant;

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, as security for the payment and performance of the Secured Obligations (as
defined in the Security Agreement), the Pledgor does hereby grant to the Administrative Agent a
security interest in all of its right, title and interest in and to the Trademarks and the Patents,
and the use thereof, together with all proceeds and products thereof and the goodwill of the
businesses symbolized by the Trademarks. This Grant has been given in conjunction with the
security interest granted to the Administrative Agent under the Security Agreement, and the
provisions of this Grant are without prejudice to and in addition to the provisions of the Security
Agreement, which are incorporated herein by this reference.

	 	 	 	 	 
	 	[NAME OF PLEDGOR]

 	 
	 	By:  	/s/
 	 
	 	 	Title:   	 
	 	 	 	 

 

 

	 	 	 	 	 

Schedule A

TRADEMARKS AND TRADEMARK APPLICATIONS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Application or	 	 	 	Issue or
	Owner	 	Mark	 	Registration No.	 	Country	 	Filing Date
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 

PATENTS AND PATENT APPLICATIONS

	 	 	 	 	 	 	 	 	 
	 	 	Application or	 	 	 	 	 	Issue or
	Owner	 	Registration No.	 	Country	 	Inventor	 	Filing Date
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 

 

 

EXHIBIT C

FORM OF
 

PLEDGOR ACCESSION

     THIS PLEDGOR ACCESSION (this “Accession”), dated as of                ,      , is
executed and delivered by [NAME OF NEW PLEDGOR], a                 corporation (the “New
Pledgor”), in favor of Wells Fargo Bank, National Association, in its capacity as
Administrative Agent under the Credit Agreement referred to hereinbelow (in such capacity, the
“Administrative Agent”), pursuant to the Security Agreement referred to hereinbelow.

     Reference is made to the Credit Agreement, dated as of                , 2011, among Swisher
Hygiene Inc. (the “Borrower”), the Lenders party thereto, and the Administrative Agent (as
amended, modified, restated or supplemented from time to time, the “Credit Agreement”). In
connection with and as a condition to the initial and continued extensions of credit under the
Credit Agreement, (i) certain subsidiaries of the Borrower, pursuant to a Guaranty Agreement, dated
as of                , 2011 (as amended, modified, restated or supplemented from time to time, the
“Guaranty Agreement”), have guaranteed the payment in full of the obligations of the
Borrower under the Credit Agreement and the other Credit Documents (as defined in the Credit
Agreement), and (ii) the Borrower and certain of its subsidiaries, pursuant to a Pledge and
Security Agreement, dated as of                , 2011 (as amended, modified, restated or supplemented
from time to time, the “Security Agreement”), have granted in favor of the Administrative
Agent a security interest in and Lien upon the Collateral described therein as security for their
obligations under the Credit Agreement, the Guaranty Agreement and the other Credit Documents.
Capitalized terms used herein without definition shall have the meanings given to them in the
Security Agreement.

     The Borrower has agreed under the Credit Agreement to cause each of its future direct and
indirect subsidiaries to become a party to the Guaranty Agreement as a guarantor thereunder and to
the Security Agreement as a Pledgor thereunder. The New Pledgor is a direct or indirect subsidiary
of the Borrower and, as required by the Credit Agreement, has become a guarantor under the Guaranty
Agreement as of the date hereof. The New Pledgor will obtain benefits as a result of the continued
extension of credit to the Borrower under the Credit Agreement, which benefits are hereby
acknowledged, and, accordingly, desire to execute and deliver this Accession. Therefore, in
consideration of the foregoing and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and to induce the Lenders to continue to extend
credit to the Borrower under the Credit Agreement, the New Pledgor hereby agrees as follows:

     1. The New Pledgor hereby joins in and agrees to be bound by each and all of the provisions of
the Security Agreement as a Pledgor thereunder. In furtherance (and without limitation) of the
foregoing, pursuant to Section 2.1 of the Security Agreement, and as security for all of the
Secured Obligations, the New Pledgor hereby pledges, assigns and delivers to the Administrative
Agent, for the ratable benefit of the Secured Parties, and grants to the Administrative Agent, for
the ratable benefit of the Secured Parties, a Lien upon and security interest in, all of its right,
title and interest in and to the Collateral as set forth in Section 2.1 of
the Security Agreement, all on the terms and subject to the conditions set forth in the
Security Agreement.

 

 

     2. The New Pledgor hereby represents and warrants that (i) Schedule 1 hereto sets
forth all information required to be listed on Annexes A, B, C, D, E, F, G, H and I to the Security
Agreement in order to make each representation and warranty contained in Sections 3.1 and 3.2 of
the Security Agreement true and correct with respect to the New Pledgor as of the date hereof and
after giving effect to this Accession and (ii) after giving effect to this Accession and to the
incorporation into such Annexes, as applicable, of the information set forth in Schedule 1, each
representation and warranty contained in Article III of the Security Agreement is true and correct
with respect to the New Pledgor as of the date hereof, as if such representations and warranties
were set forth at length herein.

     3. This Accession shall be a Credit Document (within the meaning of such term under the Credit
Agreement), shall be binding upon and enforceable against the New Pledgor and its successors and
assigns, and shall inure to the benefit of and be enforceable by each Secured Party and its
successors and assigns. This Accession and its attachments are hereby incorporated into the
Security Agreement and made a part thereof.

 2 

 

     IN WITNESS WHEREOF, the New Pledgor has caused this Accession to be executed under seal by its
duly authorized officer as of the date first above written.

	 	 	 	 	 
	 	[NAME OF NEW PLEDGOR]

 	 
	 	By:  	/s/
 	 
	 	 	Title:   	 
	 	 	 	 

 3 

 

	 	 	 	 	 

Schedule 1

Information to be added to Annex A of the Security Agreement:

FILING LOCATIONS

	 	 	 
	Name of Pledgor	 	Filing Location
	 
	 	Secretary of State of                            

Information to be added to Annex B of the Security Agreement:

JURISDICTION OF ORGANIZATION, CERTAIN LOCATIONS

[Name of Pledgor:]

	 	 	 
	Jurisdiction of Incorporation/Organization:
	 	                                      
	 
	 	 
	Federal Tax ID no.:
	 	                                      
	 
	 	 
	Organizational ID no.:
	 	                                       [N/A]
	 
	 	 
	Chief Executive Office Address:
	 	                                      
	 
	 	                                      
	 
	 	                                      
	 
	 	 
	Records Related to Collateral:
	 	                                      
	 
	 	                                      
	 
	 	                                      
	 
	 	 
	Locations of Equipment or Inventory:
	 	                                      
	 
	 	                                      
	 
	 	                                      
	 
	 	 
	Other places of business:
	 	                                      
	 
	 	                                      
	 
	 	                                      
	 
	 	 
	Trade/fictitious or prior corporate names
(last five years):
	 	 
	 
	 	                                      
	 
	 	 
	Names used in tax filings (last five years):
	 	                                      

 4 

 

Information to be added to [Annexes C/D/E/F/G/H/I] of the Security Agreement:

[Complete as applicable]

 5 

 

EXHIBIT D

PLEDGE AMENDMENT

     THIS PLEDGE AMENDMENT, dated as of                            ,                 , is delivered by [NAME OF PLEDGOR]
(the “Pledgor”) pursuant to Section 5.1 of the Security Agreement referred to hereinbelow.
The Pledgor hereby agrees that this Pledge Amendment may be attached to the Pledge and Security
Agreement, dated as of                 , 2011, made by the Pledgor and certain other pledgors named
therein in favor of Wells Fargo Bank, National Association, as Administrative Agent (as amended,
modified, restated or supplemented from time to time, the “Security Agreement,” capitalized
terms defined therein being used herein as therein defined), and that the Pledged Interests listed
on Schedule 1 to this Pledge Amendment shall be deemed to be part of the Pledged Interests
within the meaning of the Security Agreement and shall become part of the Collateral and shall
secure all of the Secured Obligations as provided in the Security Agreement. This Pledge Amendment
and its attachments are hereby incorporated into the Security Agreement and made a part thereof.

	 	 	 	 	 
	 	[NAME OF PLEDGOR]

 	 
	 	By:  	/s/
 	 
	 	 	Title:          	 
	 	 	 	 

 

 

	 	 	 	 	 

Schedule 1

PLEDGED INTERESTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Percentage of
	 	 	 	 	 	 	 	 	Outstanding
	 	 	Type of	 	Certificate	 	No. of shares	 	Interests
	Name of Issuer	 	Interests	 	Number	 	(if applicable)	 	in Issuer
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 

 

 

EXHIBIT F

GUARANTY AGREEMENT

     THIS GUARANTY AGREEMENT, dated as of the 30th day of March, 2011 (this “Guaranty”), is
made by each of the undersigned Subsidiaries of SWISHER HYGIENE INC., a Delaware corporation (the
“Borrower”), and each other Subsidiary of the Borrower that, after the date hereof,
executes an instrument of accession hereto substantially in the form of Exhibit A (a
“Guarantor Accession”; the undersigned and such other Subsidiaries of the Borrower,
collectively, the “Guarantors”), in favor of the Guaranteed Parties (as hereinafter
defined). Capitalized terms used herein without definition shall have the meanings given to them
in the Credit Agreement referred to below.

RECITALS

     A. The Borrower, certain Lenders, and Wells Fargo Bank, National Association, as
administrative agent for the Lenders (in such capacity, the “Administrative Agent”), are
parties to a Credit Agreement, dated as of March 30, 2011 (as amended, modified, restated or
supplemented from time to time, the “Credit Agreement”), providing for the availability of
certain credit facilities to the Borrower upon the terms and conditions set forth therein.

     B. It is a condition to the extension of credit to the Borrower under the Credit Agreement
that each Guarantor shall have agreed, by executing and delivering this Guaranty, to guarantee to
the Guaranteed Parties the payment in full of the Guaranteed Obligations (as hereinafter defined).
The Guaranteed Parties are relying on this Guaranty in their decision to extend credit to the
Borrower under the Credit Agreement, and would not enter into the Credit Agreement without this
Guaranty.

     C. The Borrower and the Guarantors are engaged in related businesses and undertake certain
activities and operations on an integrated basis. As part of such integrated operations, the
Borrower, among other things, will advance to the Guarantors from time to time certain proceeds of
the Loans made to the Borrower by the Lenders under the Credit Agreement. Each Guarantor will
therefore obtain benefits as a result of the extension of credit to the Borrower under the Credit
Agreement, which benefits are hereby acknowledged, and, accordingly, desires to execute and deliver
this Guaranty.

 

 

STATEMENT OF AGREEMENT

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, to induce the Guaranteed Parties to
enter into the Credit Agreement and to induce the Lenders to extend credit to the Borrower
thereunder, each Guarantor hereby agrees as follows:

     1. Guaranty.

     (a) Each Guarantor hereby irrevocably, absolutely and unconditionally, and jointly and
severally:

     (i) guarantees (A) to the Lenders (including the Issuing Lender and the Swingline
Lender in their capacities as such) and the Administrative Agent (together with any Lender
(or any Affiliate of any Lender) in the capacity described in clause (B) below,
collectively, the “Guaranteed Parties”) the full and prompt payment, at any time and
from time to time as and when due (whether at the stated maturity, by acceleration or
otherwise), of all Obligations of the Borrower under the Credit Agreement and the other
Credit Documents, including, without limitation, all principal of and interest on the Loans,
all Reimbursement Obligations, all fees, expenses, indemnities and other amounts payable by
the Borrower under the Credit Agreement or any other Credit Document (including interest
accruing after the filing of a petition or commencement of a case by or with respect to the
Borrower seeking relief under any Insolvency Laws (as hereinafter defined), whether or not
the claim for such interest is allowed in such proceeding), and all Obligations that, but
for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, would
become due, and (B) to each applicable Lender or Affiliate of any Lender in its capacity as
a Hedge Party under any Hedge Agreement that is required or permitted by the Credit
Agreement to be entered into by the Borrower (a “Permitted Hedge Agreement”), all
obligations of the Borrower under such Permitted Hedge Agreement, in each case under (A) and
(B) whether now existing or hereafter created or arising and whether direct or indirect,
absolute or contingent, due or to become due (all liabilities and obligations described in
this clause (i), collectively, the “Guaranteed Obligations”); and

     (ii) agrees to pay the reasonable fees and expenses of counsel to, and reimburse upon
demand all reasonable costs and expenses incurred or paid by, (y) any Guaranteed Party in
connection with any suit, action or proceeding to enforce or protect any rights of the
Guaranteed Parties hereunder and (z) the Administrative Agent in connection with any
amendment, modification or waiver hereof or consent pursuant hereto, and to indemnify and
hold each Guaranteed Party and its directors, officers, employees, agents and Affiliates
harmless from and against any and all claims, losses, damages, obligations, liabilities,
penalties, costs and expenses (including, without limitation, reasonable attorneys’ fees and
expenses) of any kind or nature whatsoever, whether direct, indirect or consequential, that
may at any time be imposed on, incurred by or asserted against any such indemnified party as
a result of, arising from or in any way relating to this Guaranty or the collection or
enforcement of the Guaranteed Obligations; provided, however, that no
indemnified party shall have the right to be indemnified
hereunder for any such claims, losses, costs and expenses to the extent determined by a
court of competent jurisdiction by final and nonappealable judgment to have resulted from
the gross negligence or willful misconduct of such indemnified party.

2

 

     (b) Notwithstanding the provisions of subsection (a) above and notwithstanding any other
provisions contained herein or in any other Credit Document:

     (i) no provision of this Guaranty shall require or permit the collection from any
Guarantor of interest in excess of the maximum rate or amount that such Guarantor may be
required or permitted to pay pursuant to applicable law; and

     (ii) the liability of each Guarantor under this Guaranty as of any date shall be
limited to a maximum aggregate amount (the “Maximum Guaranteed Amount”) equal to the
greatest amount that would not render such Guarantor’s obligations under this Guaranty
subject to avoidance, discharge or reduction as of such date as a fraudulent transfer or
conveyance under applicable federal and state laws pertaining to bankruptcy, reorganization,
arrangement, moratorium, readjustment of debts, dissolution, liquidation or other debtor
relief, specifically including, without limitation, the Bankruptcy Code and any fraudulent
transfer and fraudulent conveyance laws (collectively, “Insolvency Laws”), in each
instance after giving effect to all other liabilities of such Guarantor, contingent or
otherwise, that are relevant under applicable Insolvency Laws (specifically excluding,
however, any liabilities of such Guarantor in respect of intercompany indebtedness to the
Borrower or any of its Affiliates to the extent that such indebtedness would be discharged
in an amount equal to the amount paid by such Guarantor hereunder, and after giving effect
as assets to the value (as determined under applicable Insolvency Laws) of any rights to
subrogation, contribution, reimbursement, indemnity or similar rights of such Guarantor
pursuant to (y) applicable law or (z) any agreement (including this Guaranty) providing for
an equitable allocation among such Guarantor and other Affiliates of the Borrower of
obligations arising under guaranties by such parties).

     (c) The Guarantors desire to allocate among themselves, in a fair and equitable manner, their
obligations arising under this Guaranty. Accordingly, in the event any payment or distribution is
made hereunder on any date by a Guarantor (a “Funding Guarantor”) that exceeds its Fair
Share (as hereinafter defined) as of such date, that Funding Guarantor shall be entitled to a
contribution from each of the other Guarantors in the amount of such other Guarantor’s Fair Share
Shortfall (as hereinafter defined) as of such date, with the result that all such contributions
will cause each Guarantor’s Aggregate Payments (as hereinafter defined) to equal its Fair Share as
of such date. “Fair Share” means, with respect to a Guarantor as of any date of
determination, an amount equal to (i) the ratio of (x) the Adjusted Maximum Guaranteed Amount (as
hereinafter defined) with respect to such Guarantor to (y) the aggregate of the Adjusted Maximum
Guaranteed Amounts with respect to all Guarantors, multiplied by (ii) the aggregate amount paid or
distributed on or before such date by all Funding Guarantors hereunder in respect of the
obligations guarantied. “Fair Share Shortfall” means, with respect to a Guarantor as of
any date of determination, the excess, if any, of the Fair Share of such Guarantor over the
Aggregate Payments of such Guarantor. “Adjusted Maximum Guaranteed Amount” means, with
respect to a Guarantor as of any date of determination, the Maximum Guaranteed Amount of

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such Guarantor, determined in accordance with the provisions of subsection (b) above;
provided that, solely for purposes of calculating the “Adjusted Maximum Guaranteed Amount”
with respect to any Guarantor for purposes of this subsection (c), any assets or liabilities
arising by virtue of any rights to subrogation, reimbursement or indemnity or any rights to or
obligations of contribution hereunder shall not be considered as assets or liabilities of such
Guarantor. “Aggregate Payments” means, with respect to a Guarantor as of any date of
determination, the aggregate amount of all payments and distributions made on or before such date
by such Guarantor in respect of this Guaranty (including, without limitation, in respect of this
subsection (c)). The amounts payable as contributions hereunder shall be determined as of the date
on which the related payment or distribution is made by the applicable Funding Guarantor. Each
Funding Guarantor’s right of contribution under this subsection (c) shall be subject to the
provisions of Section 4. The allocation among Guarantors of their obligations as set forth in this
subsection (c) shall not be construed in any way to limit the liability of any Guarantor hereunder
to the Guaranteed Parties.

     (d) The guaranty of each Guarantor set forth in this Section is a guaranty of payment as a
primary obligor, and not a guaranty of collection. Each Guarantor hereby acknowledges and agrees
that the Guaranteed Obligations, at any time and from time to time, may exceed the Maximum
Guaranteed Amount of such Guarantor and may exceed the aggregate of the Maximum Guaranteed Amounts
of all Guarantors, in each case without discharging, limiting or otherwise affecting the
obligations of any Guarantor hereunder or the rights, powers and remedies of any Guaranteed Party
hereunder or under any other Credit Document.

     2. Guaranty Absolute. Each Guarantor agrees that its obligations hereunder and under
the other Credit Documents to which it is a party are irrevocable, absolute and unconditional, are
independent of the Guaranteed Obligations and any Collateral or other security therefor or other
guaranty or liability in respect thereof, whether given by such Guarantor or any other Person, and
shall not be discharged, limited or otherwise affected by reason of any of the following, whether
or not such Guarantor has notice or knowledge thereof:

     (i) any change in the time, manner or place of payment of, or in any other term of, any
Guaranteed Obligations or any guaranty or other liability in respect thereof, or any
amendment, modification or supplement to, restatement of, or consent to any rescission or
waiver of or departure from, any provisions of the Credit Agreement, any other Credit
Document or any agreement or instrument delivered pursuant to any of the foregoing;

     (ii) the invalidity or unenforceability of any Guaranteed Obligations, any guaranty or
other liability in respect thereof or any provisions of the Credit Agreement, any other
Credit Document or any agreement or instrument delivered pursuant to any of the foregoing;

     (iii) the addition or release of Guarantors hereunder or the taking, acceptance or
release of other guarantees of any Guaranteed Obligations or additional Collateral or other
security for any Guaranteed Obligations or for any guaranty or other liability in respect
thereof;

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     (iv) any discharge, modification, settlement, compromise or other action in respect of
any Guaranteed Obligations or any guaranty or other liability in respect thereof, including
any acceptance or refusal of any offer or performance with respect to the same or the
subordination of the same to the payment of any other obligations;

     (v) any agreement not to pursue or enforce or any failure to pursue or enforce (whether
voluntarily or involuntarily as a result of operation of law, court order or otherwise) any
right or remedy in respect of any Guaranteed Obligations, any guaranty or other liability in
respect thereof or any Collateral or other security for any of the foregoing; any sale,
exchange, release, substitution, compromise or other action in respect of any such
Collateral or other security; or any failure to create, protect, perfect, secure, insure,
continue or maintain any Liens in any such Collateral or other security;

     (vi) the exercise of any right or remedy available under the Credit Documents, at law,
in equity or otherwise in respect of any Collateral or other security for any Guaranteed
Obligations or for any guaranty or other liability in respect thereof, in any order and by
any manner thereby permitted, including, without limitation, foreclosure on any such
Collateral or other security by any manner of sale thereby permitted, whether or not every
aspect of such sale is commercially reasonable;

     (vii) any bankruptcy, reorganization, arrangement, liquidation, insolvency,
dissolution, termination, reorganization or like change in the corporate structure or
existence of the Borrower or any other Person directly or indirectly liable for any
Guaranteed Obligations;

     (viii) any manner of application of any payments by or amounts received or collected
from any Person, by whomsoever paid and howsoever realized, whether in reduction of any
Guaranteed Obligations or any other obligations of the Borrower or any other Person directly
or indirectly liable for any Guaranteed Obligations, regardless of what Guaranteed
Obligations may remain unpaid after any such application; or

     (ix) any other circumstance that might otherwise constitute a legal or equitable
discharge of, or a defense, set-off or counterclaim available to, the Borrower, any
Guarantor or a surety or guarantor generally, other than the occurrence of all of the
following: (x) the payment in full in cash of the Guaranteed Obligations (other than
contingent and indemnification obligations not then due and payable), (y) the termination of
the Commitments and the termination or expiration of all Letters of Credit under the Credit
Agreement, and (z) the termination of, and settlement of all obligations of the Borrower
under, each Permitted Hedge Agreement to which any Hedge Party is a party (the events in
clauses (x), (y) and (z) above, collectively, the “Termination Requirements”).

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     3. Certain Waivers. Each Guarantor hereby knowingly, voluntarily and expressly
waives:

     (i) presentment, demand for payment, demand for performance, protest and notice of any
other kind, including, without limitation, notice of nonpayment or other
nonperformance (including notice of default under any Credit Document with respect to
any Guaranteed Obligations), protest, dishonor, acceptance hereof, extension of additional
credit to the Borrower and of any of the matters referred to in Section 2 and of any rights
to consent thereto;

     (ii) any right to require the Guaranteed Parties or any of them, as a condition of
payment or performance by such Guarantor hereunder, to proceed against, or to exhaust or
have resort to any Collateral or other security from or any deposit balance or other credit
in favor of, the Borrower, any other Guarantor or any other Person directly or indirectly
liable for any Guaranteed Obligations, or to pursue any other remedy or enforce any other
right; and any other defense based on an election of remedies with respect to any Collateral
or other security for any Guaranteed Obligations or for any guaranty or other liability in
respect thereof, notwithstanding that any such election (including any failure to pursue or
enforce any rights or remedies) may impair or extinguish any right of indemnification,
contribution, reimbursement or subrogation or other right or remedy of any Guarantor against
the Borrower, any other Guarantor or any other Person directly or indirectly liable for any
Guaranteed Obligations or any such Collateral or other security; and, without limiting the
generality of the foregoing, each Guarantor hereby specifically waives the benefits of
Sections 26-7 through 26-9, inclusive, of the General Statutes of North Carolina, as amended
from time to time, and any similar statute or law of any other jurisdiction, as the same may
be amended from time to time;

     (iii) any right or defense based on or arising by reason of any right or defense of the
Borrower or any other Person, including, without limitation, any defense based on or arising
from a lack of authority or other disability of the Borrower or any other Person, the
invalidity or unenforceability of any Guaranteed Obligations, any Collateral or other
security therefor or any Credit Document or other agreement or instrument delivered pursuant
thereto, or the cessation of the liability of the Borrower for any reason other than the
satisfaction of the Termination Requirements;

     (iv) any defense based on any Guaranteed Party’s acts or omissions in the
administration of the Guaranteed Obligations, any guaranty or other liability in respect
thereof or any Collateral or other security for any of the foregoing, and promptness,
diligence or any requirement that any Guaranteed Party create, protect, perfect, secure,
insure, continue or maintain any Liens in any such Collateral or other security;

     (v) any right to assert against any Guaranteed Party, as a defense, counterclaim,
crossclaim or set-off, any defense, counterclaim, claim, right of recoupment or set-off that
it may at any time have against any Guaranteed Party (including, without limitation, failure
of consideration, fraud, fraudulent inducement, statute of limitations, payment, accord and
satisfaction and usury), other than compulsory counterclaims and other than the payment in
full in cash of the Guaranteed Obligations; and

6

 

     (vi) any defense based on or afforded by any applicable law that limits the liability
of or exonerates guarantors or sureties or that may in any other way conflict with the terms
of this Guaranty.

     4. No Subrogation. Each Guarantor hereby waives, and agrees that it will not exercise
or seek to exercise, any claim or right that it may have against the Borrower or any other
Guarantor at any time as a result of any payment made under or in connection with this Guaranty or
the performance or enforcement hereof, including any right of subrogation to the rights of any of
the Guaranteed Parties against the Borrower or any other Guarantor, any right of indemnity,
contribution or reimbursement against the Borrower or any other Guarantor (including rights of
contribution as set forth in Section 1(c)), any right to enforce any remedies of any Guaranteed
Party against the Borrower or any other Guarantor, or any benefit of, or any right to participate
in, any Collateral or other security held by any Guaranteed Party to secure payment of the
Guaranteed Obligations, in each case whether such claims or rights arise by contract, statute
(including without limitation the Bankruptcy Code), common law or otherwise; provided,
however, that a Guarantor may enforce the rights of contribution set forth in Section 1(c)
after satisfaction of the Termination Requirements. Each Guarantor further agrees that all
indebtedness and other obligations, whether now or hereafter existing, of the Borrower or any other
Subsidiary of the Borrower to such Guarantor, including, without limitation, any such indebtedness
in any proceeding under the Bankruptcy Code and any intercompany receivables, together with any
interest thereon, shall be, and hereby are, subordinated and made junior in right of payment to the
Guaranteed Obligations. Each Guarantor further agrees that if any amount shall be paid to or any
distribution received by any Guarantor (i) on account of any such indebtedness at any time after
the occurrence and during the continuance of an Event of Default, or (ii) on account of any rights
of contribution at any time prior to the satisfaction of the Termination Requirements, such amount
or distribution shall be deemed to have been received and to be held in trust for the benefit of
the Guaranteed Parties, and shall forthwith be delivered to the Administrative Agent in the form
received (with any necessary endorsements in the case of written instruments), to be applied
against the Guaranteed Obligations, whether or not matured, in accordance with the terms of the
applicable Credit Documents and without in any way discharging, limiting or otherwise affecting the
liability of such Guarantor under any other provision of this Guaranty. Additionally, in the event
the Borrower or any other Credit Party becomes a “debtor” within the meaning of the Bankruptcy
Code, the Administrative Agent shall be entitled, at its option, on behalf of the Guaranteed
Parties and as attorney-in-fact for each Guarantor, and is hereby authorized and appointed by each
Guarantor, to file proofs of claim on behalf of each relevant Guarantor and vote the rights of each
such Guarantor in any plan of reorganization, and to demand, sue for, collect and receive every
payment and distribution on any indebtedness of the Borrower or such Credit Party to any Guarantor
in any such proceeding, each Guarantor hereby assigning to the Administrative Agent all of its
rights in respect of any such claim, including the right to receive payments and distributions in
respect thereof.

     5. Representations and Warranties. Each Guarantor hereby represents and warrants to
the Guaranteed Parties that, as to itself, all of the representations and warranties relating to it
contained in the Credit Agreement are true and correct.

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     6. Financial Condition of Borrower. Each Guarantor represents that it has knowledge
of the Borrower’s financial condition and affairs and that it has adequate means to
obtain from the Borrower on an ongoing basis information relating thereto and to the
Borrower’s ability to pay and perform the Guaranteed Obligations, and agrees to assume the
responsibility for keeping, and to keep, so informed for so long as this Guaranty is in effect with
respect to such Guarantor. Each Guarantor agrees that the Guaranteed Parties shall have no
obligation to investigate the financial condition or affairs of the Borrower for the benefit of any
Guarantor nor to advise any Guarantor of any fact respecting, or any change in, the financial
condition or affairs of the Borrower that might become known to any Guaranteed Party at any time,
whether or not such Guaranteed Party knows or believes or has reason to know or believe that any
such fact or change is unknown to any Guarantor, or might (or does) materially increase the risk of
any Guarantor as guarantor, or might (or would) affect the willingness of any Guarantor to continue
as a guarantor of the Guaranteed Obligations.

     7. Payments; Application; Set-Off.

     (a) Each Guarantor agrees that, upon the failure of the Borrower to pay any Guaranteed
Obligations when and as the same shall become due (whether at the stated maturity, by acceleration
or otherwise), and without limitation of any other right or remedy that any Guaranteed Party may
have at law, in equity or otherwise against such Guarantor, such Guarantor will, subject to the
provisions of Section 1(b), forthwith pay or cause to be paid to the Administrative Agent, for the
benefit of the Guaranteed Parties, an amount equal to the amount of the Guaranteed Obligations then
due and owing as aforesaid.

     (b) All payments made by each Guarantor hereunder will be made in Dollars to the
Administrative Agent, without set-off, counterclaim or other defense and, in accordance with the
Credit Agreement, free and clear of and without deduction for any Taxes, each Guarantor hereby
agreeing to comply with and be bound by the provisions of the Credit Agreement in respect of all
payments made by it hereunder.

     (c) All payments made hereunder shall be applied in accordance with the provisions of Section
2.12 of the Credit Agreement. For purposes of applying amounts in accordance with this Section,
the Administrative Agent shall be entitled to rely upon any Guaranteed Party that has entered into
a Permitted Hedge Agreement with the Borrower for a determination (which such Guaranteed Party
agrees to provide or cause to be provided upon request of the Administrative Agent) of the
outstanding Guaranteed Obligations owed to such Guaranteed Party under any such Permitted Hedge
Agreement. Unless it has actual knowledge (including by way of written notice from any such
Guaranteed Party) to the contrary, the Administrative Agent, in acting hereunder, shall be entitled
to assume that no Permitted Hedge Agreements or Guaranteed Obligations in respect thereof are in
existence between any Guaranteed Party and the Borrower. If any Lender or Affiliate thereof that
is a party to a Permitted Hedge Agreement with the Borrower (the obligations of the Borrower under
which are Guaranteed Obligations) ceases to be a Lender or Affiliate thereof, such former Lender or
Affiliate thereof shall nevertheless continue to be a Guaranteed Party hereunder with respect to
the Guaranteed Obligations under such Permitted Hedge Agreement.

8

 

     (d) In the event that the proceeds of any such sale, disposition or realization are
insufficient to pay all amounts to which the Guaranteed Parties are legally entitled, the
Guarantors shall be jointly and severally liable for the deficiency, together with interest thereon
at the highest rate specified in any applicable Credit Document for interest on overdue
principal or such other rate as shall be fixed by applicable law, together with the costs of
collection and all other fees, costs and expenses payable hereunder.

     (e) Upon and at any time after the occurrence and during the continuance of any Event of
Default, each Guaranteed Party and each of their respective Affiliates is hereby authorized at any
time and from time to time, to the fullest extent permitted by applicable law, to set off and apply
any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by such
Guaranteed Party or any such Affiliate to or for the credit or the account of any Guarantor against
any and all of the obligations of such Guarantor now or hereafter existing under this Guaranty or
any other Credit Document to such Guaranteed Party, irrespective of whether or not such Guaranteed
Party shall have made any demand under this Guaranty or any other Credit Document and although such
obligations of such Guarantor may be contingent or unmatured or are owed to a branch or office of
such Guaranteed Party different from the branch or office holding such deposit or obligated on such
indebtedness. The rights of each Guaranteed Party and their respective Affiliates under this
subsection are in addition to other rights and remedies (including other rights of setoff) that
such Guaranteed Parties or their respective Affiliates may have. Each Guaranteed Party agrees to
notify the Borrower and the Administrative Agent promptly after any such setoff and application;
provided that the failure to give such notice shall not affect the validity of such setoff
and application.

     8. No Waiver. The rights and remedies of the Guaranteed Parties expressly set forth
in this Guaranty and the other Credit Documents are cumulative and in addition to, and not
exclusive of, all other rights and remedies available at law, in equity or otherwise. No failure
or delay on the part of any Guaranteed Party in exercising any right, power or privilege shall
operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or
privilege preclude any other or further exercise thereof or the exercise of any other right, power
or privilege or be construed to be a waiver of any Default or Event of Default. No course of
dealing between any of the Guarantors and the Guaranteed Parties or their agents or employees shall
be effective to amend, modify or discharge any provision of this Guaranty or any other Credit
Document or to constitute a waiver of any Default or Event of Default. No notice to or demand upon
any Guarantor in any case shall entitle such Guarantor or any other Guarantor to any other or
further notice or demand in similar or other circumstances or constitute a waiver of the right of
any Guaranteed Party to exercise any right or remedy or take any other or further action in any
circumstances without notice or demand.

     9. Enforcement. The Guaranteed Parties agree that, except as provided in Section
7(e), this Guaranty may be enforced only by the Administrative Agent, acting upon the instructions
or with the consent of the Required Lenders as provided for in the Credit Agreement, and that no
Guaranteed Party shall have any right individually to enforce or seek to enforce this Guaranty or
to realize upon any Collateral or other security given to secure the payment and performance of the
Guarantors’ obligations hereunder. The obligations of each Guarantor hereunder are independent of
the Guaranteed Obligations, and a separate action or actions may be brought against each Guarantor
whether or not action is brought against the Borrower or any other Guarantor and whether or not the
Borrower or any other Guarantor is joined in any such action. Each Guarantor agrees that to the
extent all or part of any payment of the Guaranteed

9

 

Obligations made by any Person is subsequently invalidated, declared to be fraudulent or
preferential, set aside or required to be repaid by or on behalf of any Guaranteed Party to a
trustee, receiver or any other party under any Insolvency Laws (the amount of any such payment, a
“Reclaimed Amount”), then, to the extent of such Reclaimed Amount, this Guaranty shall
continue in full force and effect or be revived and reinstated, as the case may be, as to the
Guaranteed Obligations intended to be satisfied as if such payment had not been received; and each
Guarantor acknowledges that the term “Guaranteed Obligations” includes all Reclaimed Amounts that
may arise from time to time.

     10. Amendments, Waivers, etc. No amendment, modification, waiver, discharge or
termination of, or consent to any departure by any Guarantor from, any provision of this Guaranty,
shall be effective unless in a writing signed by the Administrative Agent and such of the Lenders
as may be required under the provisions of the Credit Agreement to concur in the action then being
taken, and then the same shall be effective only in the specific instance and for the specific
purpose for which given.

     11. Addition, Release of Guarantors. Each Guarantor recognizes that the provisions of
the Credit Agreement require Persons that become Subsidiaries of the Borrower and that are not
already parties hereto to become Guarantors hereunder by executing a Guarantor Accession (subject
to certain excepts regarding Foreign Subsidiaries), and agrees that its obligations hereunder shall
not be discharged, limited or otherwise affected by reason of the same, or by reason of the
Administrative Agent’s actions in effecting the same or in releasing any Guarantor hereunder, in
each case without the necessity of giving notice to or obtaining the consent of any other
Guarantor.

     12. Continuing Guaranty; Term; Successors and Assigns; Assignment; Survival. This
Guaranty is a continuing guaranty and covers all of the Guaranteed Obligations as the same may
arise and be outstanding at any time and from time to time from and after the date hereof, and
shall (i) remain in full force and effect until satisfaction of all of the Termination Requirements
(provided that the provisions of Sections 1(a)(ii) and 4 shall survive any termination of
this Guaranty), (ii) be binding upon and enforceable against each Guarantor and its successors and
assigns (provided, however, that no Guarantor may sell, assign or transfer any of
its rights, interests, duties or obligations hereunder without the prior written consent of the
Required Lenders) and (iii) inure to the benefit of and be enforceable by each Guaranteed Party and
its successors and assigns. Without limiting the generality of clause (iii) above, any Guaranteed
Party may, in accordance with the provisions of the Credit Agreement, assign all or a portion of
the Guaranteed Obligations held by it (including by the sale of participations), whereupon each
Person that becomes the holder of any such Guaranteed Obligations shall (except as may be otherwise
agreed between such Guaranteed Party and such Person) have and may exercise all of the rights and
benefits in respect thereof granted to such Guaranteed Party under this Guaranty or otherwise.
Each Guarantor hereby irrevocably waives notice of and consents in advance to the assignment as
provided above from time to time by any Guaranteed Party of all or any portion of the Guaranteed
Obligations held by it and of the corresponding rights and interests of such Guaranteed Party
hereunder in connection therewith. All representations, warranties, covenants and agreements
herein shall survive the execution and delivery of this Guaranty and any Guarantor Accession.

10

 

     13. Governing Law; Consent to Jurisdiction; Appointment of Borrower as Representative,
Process Agent, Attorney-in-Fact.

     (a) This Guaranty shall be governed by, and construed and enforced in accordance with, the
laws of the State of North Carolina (without regard to the conflicts of law provisions thereof).

     (b) Each Guarantor irrevocably and unconditionally submits, for itself and its property, to
the nonexclusive jurisdiction of the courts of the State of North Carolina sitting in Mecklenburg
County and of the United States District Court of the Western District of North Carolina, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this
Guaranty or any other Credit Document, or for recognition or enforcement of any judgment, and each
of the parties hereto irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in such state court or, to the fullest extent
permitted by applicable law, in such federal court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this
Guaranty or in any other Credit Document shall affect any right that any Guaranteed Party may
otherwise have to bring any action or proceeding relating to this Guaranty or any other Credit
Document against any Guarantor or its properties in the courts of any jurisdiction.

     (c) Each Guarantor irrevocably and unconditionally waives, to the fullest extent permitted by
applicable law, any objection that it may now or hereafter have to the laying of venue of any
action or proceeding arising out of or relating to this Guaranty or any other Credit Document in
any court referred to in Section 13(b). Each of the parties hereto hereby irrevocably waives, to
the fullest extent permitted by applicable law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.

     (d) Each Guarantor hereby irrevocably designates and appoints the Borrower as its designee,
appointee and agent to receive on its behalf all service of process in any such action or
proceeding and any other notice or communication hereunder, irrevocably consents to service of
process in any such action or proceeding by registered or certified mail directed to the Borrower
at its address set forth in the Credit Agreement (and service so made shall be deemed to be
completed upon the earlier of actual receipt thereof or three (3) business days after deposit in
the United States mails, proper postage prepaid and properly addressed), and irrevocably agrees
that service so made shall be effective and binding upon such Guarantor in every respect and that
any other notice or communication given to the Borrower at the address and in the manner specified
herein shall be effective notice to such Guarantor. Nothing in this Section shall affect the right
of any party to serve legal process in any other manner permitted by law or affect the right of any
Guaranteed Party to bring any action or proceeding against any Guarantor in the courts of any other
jurisdiction.

     (e) Further, each Guarantor does hereby irrevocably make, constitute and appoint the Borrower
as its true and lawful attorney-in-fact, with full authority in its place and stead and in its
name, the Borrower’s name or otherwise, and with full power of substitution in the premises, from
time to time in the Borrower’s discretion to agree on behalf of, and sign the name of, such

11

 

Guarantor to any amendment, modification or supplement to, restatement of, or waiver or
consent in connection with, this Guaranty, any other Credit Document or any document or instrument
pursuant hereto or thereto, and to take any other action and do all other things on behalf of such
Guarantor that the Borrower may deem necessary or advisable to carry out and accomplish the
purposes of this Guaranty and the other Credit Documents. The Borrower will not be liable for any
act or omission nor for any error of judgment or mistake of fact unless the same shall occur as a
result of the gross negligence or willful misconduct of the Borrower. This power, being coupled
with an interest, is irrevocable by any Guarantor for so long as this Guaranty shall be in effect
with respect to such Guarantor. By its signature hereto, the Borrower consents to its appointment
as provided for herein and agrees promptly to distribute all process, notices and other
communications to each Guarantor.

     14. Arbitration; Preservation and Limitation of Remedies.

     (a) Upon demand of any party hereto, whether made before or after institution of any judicial
proceeding, any dispute, claim or controversy arising out of, connected with or relating to this
Guaranty or any other Credit Document (“Disputes”) between or among the Guarantors and the
Guaranteed Parties, or any of them, shall be resolved by binding arbitration as provided herein.
Institution of a judicial proceeding by a party does not waive the right of that party to demand
arbitration hereunder. Disputes may include, without limitation, tort claims, counterclaims,
claims brought as class actions, claims arising from documents executed in the future, disputes as
to whether a matter is subject to arbitration, or claims arising out of or connected with the
transactions contemplated by this Guaranty, the Credit Agreement and the other Credit Documents.
Arbitration shall be conducted under and governed by the Commercial Financial Disputes Arbitration
Rules (the “Arbitration Rules”) of the American Arbitration Association (the
“AAA”), as in effect from time to time, and the Federal Arbitration Act, Title 9 of the
U.S. Code, as amended. All arbitration hearings shall be conducted in the city in which the
principal office of the Administrative Agent is located. A hearing shall begin within ninety (90)
days of demand for arbitration and all hearings shall be concluded within 120 days of demand for
arbitration. These time limitations may not be extended unless a party shows cause for extension
and then for no more than a total of sixty (60) days. The expedited procedures set forth in Rule
51 et seq. of the Arbitration Rules shall be applicable to claims of less than
$1,000,000. All applicable statutes of limitation shall apply to any Dispute. A judgment upon the
award may be entered in any court having jurisdiction. The panel from which all arbitrators are
selected shall be comprised of licensed attorneys selected from the Commercial Financial Dispute
Arbitration Panel of the AAA. The single arbitrator selected for expedited procedure shall be a
retired judge from the highest court of general jurisdiction, state or federal, of the state where
the hearing will be conducted. Notwithstanding the foregoing, this arbitration provision does not
apply to Disputes under or related to any Hedge Agreement. The parties do not waive applicable
federal or state substantive law except as provided herein.

     (b) Notwithstanding the preceding binding arbitration provisions, the parties hereto agree to
preserve, without diminution, certain remedies that any party hereto may employ or exercise freely,
either alone, in conjunction with or during a Dispute. Any party hereto shall have the right to
proceed in any court of proper jurisdiction or by self-help to exercise or prosecute the following
remedies, as applicable: (i) all rights to foreclose against any Collateral by exercising a power
of sale granted pursuant to any of the Credit Documents or under

12

 

applicable law or by judicial foreclosure and sale, including a proceeding to confirm the
sale; (ii) all rights of self-help, including peaceful occupation of real property and collection
of rents, set-off, and peaceful possession of personal property; (iii) obtaining provisional or
ancillary remedies, including injunctive relief, sequestration, garnishment, attachment,
appointment of a receiver and filing an involuntary bankruptcy proceeding; and (iv) when
applicable, a judgment by confession of judgment. Any claim or controversy with regard to any
party’s entitlement to such remedies is a Dispute. Preservation of these remedies does not limit
the power of an arbitrator to grant similar remedies that may be requested by a party in a Dispute.
The parties hereto agree that no party shall have a remedy of punitive or exemplary damages
against any other party in any Dispute, and each party hereby waives any right or claim to punitive
or exemplary damages that it has now or that may arise in the future in connection with any
Dispute, whether such Dispute is resolved by arbitration or judicially. The parties acknowledge
that by agreeing to binding arbitration they have irrevocably waived any right they may have to a
jury trial with regard to a Dispute. The Guarantors agree, jointly and severally, to pay the
reasonable fees and expenses of counsel to the Guaranteed Parties in connection with any Dispute
subject to arbitration as provided herein.

     15. Notices. All notices and other communications provided for herein shall be in
writing and shall be delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by telecopier as follows: (a) if to any Guarantor, in care of the Borrower
and at the Borrower’s address for notices set forth in the Credit Agreement, and (b) if to any
Guaranteed Party, at its address for notices set forth in the Credit Agreement; in each case, as
such addresses may be changed from time to time pursuant to the Credit Agreement, and with copies
to such other Persons as may be specified under the provisions of the Credit Agreement. Notices
sent by hand or overnight courier service, or mailed by certified or registered mail, shall be
deemed to have been given when received; notices sent by telecopier shall be deemed to have been
given when sent (except that, if not given during normal business hours for the recipient, shall be
deemed to have been given at the opening of business on the next business day for the recipient).
Notices delivered through electronic communications to the extent provided in the Credit Agreement
shall be effective as provided therein.

     16. Severability. To the extent any provision of this Guaranty is prohibited by or
invalid under the applicable law of any jurisdiction, such provision shall be ineffective only to
the extent of such prohibition or invalidity and only in such jurisdiction, without prohibiting or
invalidating such provision in any other jurisdiction or the remaining provisions of this Guaranty
in any jurisdiction.

     17. Construction. The headings of the various sections and subsections of this
Guaranty have been inserted for convenience only and shall not in any way affect the meaning or
construction of any of the provisions hereof. Unless the context otherwise requires, words in the
singular include the plural and words in the plural include the singular.

     18. Counterparts; Effectiveness. This Guaranty may be executed in any number of
counterparts and by different parties hereto on separate counterparts, each of which when so
executed and delivered shall be an original, but all of which shall together constitute one and the
same instrument. This Guaranty shall become effective, as to any Guarantor, upon the execution and
delivery by such Guarantor of a counterpart hereof or a Guarantor Accession.

13

 

     IN WITNESS WHEREOF, the parties have caused this Guaranty to be executed under seal by their
duly authorized officers as of the date first above written.

	 	 	 	 	 
	 	SWISHER HYGIENE INC.

 	 
	 	By:  	 	 
	 	 	Hugh H. Cooper 	 
	 	 	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	GUARANTORS:

SWISHER INTERNATIONAL, INC.

HB SERVICE, LLC

SWISHER HYGIENE FRANCHISE CORP.

SWISHER PEST CONTROL CORP.

SWISHER MAID, INC.

SHFC FINANCE, LLC

SERVICE MINNEAPOLIS, LLC

SHFC OPERATIONS, LLC

EXPRESS RESTAURANT EQUIPMENT SERVICE, INC.

SERVICE ARKANSAS, LLC

SERVICE BALTIMORE, LLC

SERVICE BEVERLY HILLS, LLC

SERVICE BIRMINGHAM, LLC

SERVICE CALIFORNIA, LLC

SERVICE CAROLINA, LLC

SERVICE CENTRAL FL, LLC

SERVICE CHARLOTTE LLC

SERVICE CHATTANOOGA, LLC

SERVICE CINCINNATI, LLC

SERVICE COLUMBIA, LLC

SERVICE COLUMBUS, LLC

SERVICE DC, LLC
SERVICE DENVER, LLC

 	 
	 	By:  	 	 
	 	 	Hugh H. Cooper 	 
	 	 	Chief Financial Officer 	 
	 

(Signatures continue on following page)

Signature Page to Guaranty Agreement

 

 

	 	 	 	 	 
	 	SERVICE FLORIDA, LLC

SERVICE GAINESVILLE, LLC

SERVICE GOLD COAST, LLC

SERVICE GREENSBORO, LLC

SERVICE GREENVILLE, LLC

SERVICE GULF COAST, LLC

SERVICE HAWAII, LLC

SERVICE HOUSTON, LLC

SERVICE LAS VEGAS, LLC

SERVICE LOUISVILLE, LLC

SERVICE MEMPHIS, LLC

SERVICE MICHIGAN, LLC

SERVICE MIDATLANTIC, LLC

SERVICE MIDWEST, LLC

SERVICE NASHVILLE, LLC

SERVICE NEW ENGLAND, LLC

SERVICE NEW MEXICO, LLC

SERVICE NEW ORLEANS, LLC

SERVICE NORTH, LLC

SERVICE NORTH-CENTRAL, LLC

SERVICE OKLAHOMA CITY, LLC

SERVICE PHILADELPHIA, LLC

SERVICE PHOENIX, LLC

SERVICE PORTLAND, LLC

SERVICE RALEIGH, LLC

SERVICE SALT LAKE CITY, LLC

SERVICE SEATTLE, LLC

SERVICE SOUTH, LLC

SERVICE ST. LOUIS, LLC

SERVICE TALLAHASSEE, LLC

SERVICE TAMPA, LLC

SERVICE TRI-CITIES, LLC

SERVICE VIRGINIA, LLC

SERVICE WEST COAST, LLC

SERVICE WESTERN PENNSYLVANIA, LLC

FOUR-STATE HYGIENE, INC.

INTEGRATED BRANDS INC.
ESKIMO PIE CORPORATION

 	 
	 	By:  	 	 
	 	 	Hugh H. Cooper 	 
	 	 	Chief Financial Officer 	 
	 

(Signatures continue on following page)

Signature Page to Guaranty Agreement

 

 

	 	 	 	 	 
	 	CHOICE ENVIRONMENTAL SERVICES,

   INC.

CHOICE ENVIRONMENTAL SERVICES

   OF MIAMI, INC.

CHOICE ENVIRONMENTAL SERVICES

   OF BROWARD, INC.

CHOICE ENVIRONMENTAL SERVICES

   OF DADE COUNTY, INC.

CHOICE ENVIRONMENTAL SERVICES

   OF COLLIER, INC.

CHOICE RECYCLING SERVICES

   OF MIAMI, INC.

CHOICE ENVIRONMENTAL SERVICES

   OF ST. LUCIE, INC.

CHOICE RECYCLING SERVICES

   OF BROWARD, INC.

CHOICE ENVIRONMENTAL SERVICES

   OF LEE COUNTY, INC.
CHOICE ENVIRONMENTAL SERVICES

   OF HIGHLANDS COUNTY, INC.

 	 
	 	By:  	 	 
	 	 	Hugh H. Cooper 	 
	 	 	Chief Financial Officer 	 
	 

(Signatures continue on following page)

Signature Page to Guaranty Agreement

 

 

	 	 	 	 	 
	Accepted and agreed to:

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent

 	 
	By:  	 	 
	 	 	Cavan J. Harris 	 
	 	 	Senior Vice President 	 
	 

Signature Page to Guaranty Agreement

 

 

EXHIBIT A

GUARANTOR ACCESSION

     THIS
GUARANTOR ACCESSION (this “Accession”), dated as
of __________, _____, is executed and delivered by [NAME OF NEW
GUARANTOR], a _______________ corporation (the “New
Guarantor”), pursuant to the Guaranty Agreement referred to hereinbelow.

     Reference is made to the Credit Agreement, dated as of March 30, 2011, among Swisher Hygiene
Inc. (the “Borrower”), the Lenders party thereto, and the Administrative Agent (as amended,
modified, restated or supplemented from time to time, the “Credit Agreement”). In
connection with and as a condition to the initial and continued extensions of credit under the
Credit Agreement, the Borrower and certain of its Subsidiaries have executed and delivered a
Guaranty Agreement, dated as of March 30, 2011 (as amended, modified, restated or supplemented from
time to time, the “Guaranty Agreement”), pursuant to which such Subsidiaries have
guaranteed the payment in full of the obligations of the Borrower under the Credit Agreement and
the other Credit Documents (as defined in the Credit Agreement). Capitalized terms used herein
without definition shall have the meanings given to them in the Guaranty Agreement.

     The Borrower has agreed under the Credit Agreement to cause each of its future Subsidiaries to
become a party to the Guaranty Agreement as a guarantor thereunder (subject to certain excepts
regarding Foreign Subsidiaries). The New Guarantor is a Subsidiary of the Borrower. The New
Guarantor will obtain benefits as a result of the continued extension of credit to the Borrower
under the Credit Agreement, which benefits are hereby acknowledged, and, accordingly, desire to
execute and deliver this Accession. Therefore, in consideration of the foregoing and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and to
induce the Lenders to continue to extend credit to the Borrower under the Credit Agreement, the New
Guarantor hereby agrees as follows:

     1. The New Guarantor hereby joins in and agrees to be bound by each and all of the provisions
of the Guaranty Agreement as a Guarantor thereunder. In furtherance (and without limitation) of
the foregoing, pursuant to Section 1 of the Guaranty Agreement, the New Guarantor hereby
irrevocably, absolutely and unconditionally, and jointly and severally with each other Guarantor,
guarantees to the Guaranteed Parties the full and prompt payment, at any time and from time to time
as and when due (whether at the stated maturity, by acceleration or otherwise), of all of the
Guaranteed Obligations, and agrees to pay or reimburse upon demand all other obligations of the
Guarantors under the Guaranty Agreement, all on the terms and subject to the conditions set forth
in the Guaranty Agreement.

     2. The New Guarantor hereby represents and warrants that after giving effect to this
Accession, each representation and warranty related to it contained in the Credit Agreement is true
and correct with respect to the New Guarantor as of the date hereof.

 

 

     3. This Accession shall be a Credit Document (within the meaning of such term under the Credit
Agreement), shall be binding upon and enforceable against the New Guarantor and its successors and
assigns, and shall inure to the benefit of and be enforceable by each Guaranteed Party and its
successors and assigns. This Accession and its attachments are hereby incorporated into the
Guaranty Agreement and made a part thereof.

     IN WITNESS WHEREOF, the New Guarantor has caused this Accession to be executed under seal by
its duly authorized officer as of the date first above written.

	 	 	 	 	 
	 	[NAME OF NEW GUARANTOR]

 	 
	 	By:  	 	 
	 	 	Title:             	 
	 	 	 	 
	 

2

 

Schedule 1.1(a)

Commitments and

Notice Addresses

Commitments

	 	 	 	 	 
	Lender	 	Revolving Commitment	 
	Wells Fargo Bank, National Association
	 	$	100,000,000	 
	Total
	 	$	100,000,000	 

Notice Addresses

	 	 	 
	Party	 	Address
	Borrower

	 	Swisher Hygiene, Inc.
	 

	 	4725 Piedmont Row Drive
	 

	 	Suite 400
	 

	 	Charlotte, North Carolina 28210
	 

	 	Attention: Hugh Cooper, Chief Financial Officer
	 

	 	Telephone: (704) 602-7163
	 

	 	Facsimile: (704) 6027972
	 
	 	 
	Wells Fargo Bank, National Association

	 	Wire Instructions:
	 
	 	 
	 

	 	Wells Fargo Bank, National Association
	 

	 	ABA Routing No. 053000219
	 

	 	Charlotte, North Carolina
	 

	 	Account Number: 01459670001944
	 

	 	Account Name: Swisher Hygiene Inc.
	 

	 	Attention: Syndication Agency Services
	 
	 	 
	 

	 	Address for notices as a Lender:
	 
	 	 
	 

	 	Wells Fargo Bank, National Association
	 

	 	301 South Tryon Street, 28th Floor
	 

	 	Charlotte, North Carolina 28288-0334
	 

	 	Attention: Cavan J. Harris
	 

	 	Telephone: (704) 383-6423
	 

	 	Telecopy: (704) 374-6483

 

 

	 	 	 
	Party	 	Address
	 

	 	Lending Office:
	 
	 	 
	 

	 	Wells Fargo Bank, National Association
	 

	 	1525 W. W.T. Harris Blvd.
	 

	 	Building 3A2, Mailcode NC 0680
	 

	 	Charlotte, North Carolina 28262
	 

	 	Attention: Syndication Agency Services
	 

	 	Telephone: (704) 383-3721
	 

	 	Telecopy: (704) 383-0288

 

 

SCHEDULE 1.1(b)

Certain Indebtedness

Schedule of Indebtedness

As of Feb 28, 2011

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Date of	 	Date of	 	Original	 	 	Current	 
	Seller Notes	 	Inception	 	Maturity	 	Balance	 	 	Balance	 
	Portland
	 	10/20/2009	 	12/17/2013	 	$	608,703	 	 	$	536,059	 
	Total Cost-1
	 	11/5/2010	 	3/11/2011	 	 	37,200	 	 	 	15,525	 
	Albuquerque
	 	11/2/2009	 	7/30/2012	 	 	55,000	 	 	 	27,778	 
	Toronto-1
	 	11/2/2009	 	9/30/2013	 	 	720,000	 	 	 	662,035	 
	Toronto-2
	 	9/30/2010	 	9/30/2013	 	 	180,000	 	 	 	165,511	 
	Total Cost-2
	 	8/30/2010	 	9/30/2013	 	 	600,000	 	 	 	552,603	 
	Atlanta 1
	 	5/1/2009	 	5/1/2019	 	 	1,000,000	 	 	 	816,667	 
	Atlanta 2
	 	5/1/2009	 	5/1/2019	 	 	1,700,000	 	 	 	1,388,333	 
	Northern NJ 2
	 	7/1/2009	 	7/1/2014	 	 	74,287	 	 	 	50,763	 
	Northern NJ
	 	11/2/2009	 	9/30/2012	 	 	350,000	 	 	 	188,168	 
	Calgary
	 	9/15/2010	 	9/30/2013	 	 	330,000	 	 	 	285,921	 
	Chattanooga
	 	3/29/2008	 	4/1/2013	 	 	240,000	 	 	 	107,318	 
	Cleveland
	 	10/30/2009	 	10/30/2012	 	 	11,305	 	 	 	6,406	 
	E. Mass
	 	11/2/2009	 	12/2/2012	 	 	274,118	 	 	 	204,991	 
	Edmonton
	 	9/15/2010	 	9/30/2013	 	 	170,000	 	 	 	147,144	 
	Fresno
	 	7/1/2009	 	7/1/2014	 	 	230,000	 	 	 	153,333	 
	Kansas City
	 	7/1/2009	 	7/2/2011	 	 	40,888	 	 	 	6,815	 
	Pittsburgh
	 	11/2/2009	 	10/1/2014	 	 	750,000	 	 	 	547,755	 
	Rhode Island
	 	10/30/2009	 	10/1/2014	 	 	525,000	 	 	 	392,598	 
	Knoxville
	 	7/10/2009	 	7/10/2014	 	 	200,000	 	 	 	136,673	 
	Mission Viejo
	 	1/12/2011	 	1/31/2014	 	 	300,000	 	 	 	267,798	 
	Milwaukee 1
	 	7/10/2009	 	12/10/2011	 	 	241,990	 	 	 	87,426	 
	Milwaukee 2
	 	7/6/2009	 	7/6/2014	 	 	255,000	 	 	 	174,250	 
	Reno 2
	 	3/9/2007	 	6/9/2011	 	 	99,000	 	 	 	5,522	 
	SANTEC
	 	7/10/2009	 	7/19/2014	 	 	475,000	 	 	 	348,074	 
	E Mass 1
	 	11/2/2009	 	9/19/2014	 	 	125,000	 	 	 	49,514	 
	Rochester Hills
	 	10/19/2009	 	9/19/2014	 	 	460,000	 	 	 	328,340	 
	Denver
	 	6/30/2008	 	6/30/2011	 	 	600,000	 	 	 	142,699	 
	Total Seller Notes
	 	 	 	 	 	 	10,652,491	 	 	 	7,796,019	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Convertible Seller Notes
	 	 	 	 	 	 	 	 	 	 	 	 
	Vancouver
	 	12/1/2011	 	6/30/2011	 	 	3,920,000	 	 	 	3,920,000	 
	Mission
	 	1/12/2011	 	12/15/2011	 	 	1,600,000	 	 	 	1,600,000	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Date of	 	Date of	 	Original	 	 	Current	 
	Seller Notes	 	Inception	 	Maturity	 	Balance	 	 	Balance	 
	Cheney
	 	12/31/2010	 	9/30/2011	 	 	850,000	 	 	 	850,000	 
	Total Service
	 	2/7/2011	 	12/31/2011	 	 	150,000	 	 	 	150,000	 
	Express Service
	 	1/28/2011	 	12/31/2011	 	 	1,400,000	 	 	 	1,400,000	 
	Enviro-Solutions
	 	1/10/2011	 	9/30/2011	 	 	1,000,000	 	 	 	1,000,000	 
	Total Convertible Notes
	 	 	 	 	 	 	8,920,000	 	 	 	8,920,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Earnout Contingencies
	 	 	 	 	 	 	 	 	 	 	 	 
	TCS
	 	9/1/2010	 	9/1/2013	 	 	586,998	 	 	 	586,998	 
	Enviro-Solutions
	 	1/1/2011	 	12/31/2013	 	 	1,000,000	 	 	 	1,000,000	 
	Total Earnouts
	 	 	 	 	 	 	1,586,998	 	 	 	1,586,998	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Total Subordinate Debt
	 	 	 	 	 	$	21,159,489	 	 	$	18,303,016	 

 

 

SCHEDULE 3.11

Issued by Wachovia Bank, N.A., LOC # SM234456W, Service South, LLC, in favor of Harold Cumbie,
$2,700,000.00, dated 4/30/2010.

Issued by Wachovia Bank, N.A., LOC # SM236009W,Service Philadelphia, LLC, in favor of JTC Ventures,
LLC, $350,000.00, dated 11/6/2010

Issued by Wells Fargo Bank, N.A., LOC # SM238309W,Swisher International, Inc., in favor of ASC
Hygiene, Inc., $1,660,000.00, dated 01/2011

 

 

Schedule 4.2

Certain Post-Closing Deliveries

	1.	 	Certain Lien Searches. The certified reports listing any judgment or tax lien
filings referenced in Section 4.1(g) for certain Subsidiaries of the Borrower that were not
delivered prior to the Closing Date, the results thereof to be reasonably satisfactory to the
Administrative Agent
	 
	2.	 	Certain Liens. Evidence, reasonably satisfactory to the Administrative Agent, of the
termination of record of (i) the judgment liens filed against Service Tampa, LLC and Service
West Coast, LLC in Pinellas County, Florida in the amount of $800,000, and (ii) the liens of
record in favor of JPMorgan Chase Bank, N.A., against Coolbrands International, Inc. (a
predecessor entity of the Borrower), recorded in the Province of Ontario, Canada
	 
	3.	 	Certain Pledged Capital Stock. Except as set forth in Section 6.17, any certificates
evidencing the Capital Stock being pledged under the Security Agreement not delivered to the
Administrative Agent as of the Closing Date and undated assignments separate from certificate
for any such certificate, duly executed in blank (including the certificates evidencing the
Capital Stock of the Subsidiaries of Choice Environmental Services, Inc. that are
uncertificated as of the Closing Date)
	 
	4.	 	Certain Organizational Documents. True and complete copies of the articles or
certificate of incorporation, certificate of formation or other organizational document and
all amendments thereto of the Credit Parties and a true and complete copy of the bylaws,
operating agreement or similar governing document of such Credit Parties, as in effect on the
Closing Date and at all times from the date on which the resolutions delivered pursuant to
Section 4.1(c) were adopted by such Credit Party, in each case to the extent not delivered to
the Administrative Agent on or prior to the Closing Date
	 
	5.	 	Certain Legal Opinions. Written legal opinions of counsel to each Subsidiary of the
Borrower organized in the State of Nevada and each Subsidiary of the Borrower organized in the
State of North Carolina, each addressed to the Administrative Agent and the Lenders, in form
and substance reasonably satisfactory to the Administrative Agent and its counsel

 

 

SCHEDULE 5.9

None.

 

 

SCHEDULE 5.10(c)

In January 2009, the Borrower entered into a UK Master License Agreement pursuant to which itsold
certain assets of its UK subsidiary, including a Master License, to an unrelated third party (the
“UK Master Licensee”). The purchase price for the Master License was $137,650, which is payable in
monthly installments through 2014 with interest at 6% (the “Master License Note”). The purchase
price for the assets of the business was $854,807 and is payable monthly based on the percentage of
monthly revenue the UK Master Licensee earns from its customers through January 2019 (“Asset
Purchase Note”). These amounts were recorded as Notes Receivable based on the cash flow expected
to be received from these payments discounted at 8.08%. The balance due at February 28, 2011 from
the Asset Purchase Note was $632,910.10 and from the Master License Note was $135,544.10.

 

 

SCHEDULE 5.13

None.

 

 

SCHEDULE 5.14

None of the Credit Parties own an interest in real properties. All properties contained in
this schedule are as to a leasehold interest held by the subsidiary listed below.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Street Address	 	City	 	ST	 	Zip	 	Nature of Use	 	LANDLORD NAME
	12500 Central Blvd. SE, Units A1 &
A2

	 	Albuquerque
	 	NM
	 	 	87123-0000	 	 	Warehouse/Office
	 	TIJERAS SELF STORAGE
	5415 W. 59th Avenue, Unit F

	 	Arvada
	 	CO
	 	 	80003-0000	 	 	Warehouse/Office
	 	Cherokee Properties 54515 W 59 Ave LLC
	4402 S. Congress, #206

	 	Austin
	 	TX
	 	 	78746-0000	 	 	Warehouse/Office
	 	Smith & Jones
	3916 Vero Rd Suite M

	 	Baltimore
	 	MD
	 	 	21227	 	 	Warehouse/Office
	 	St. John Properties, Inc.
	524-C Mineral Trace

	 	Birmingham
	 	AL
	 	 	35244-0000	 	 	Warehouse/Office
	 	TAO, LLC
	2768 S. Featherly Way

	 	Boise
	 	ID
	 	 	83709	 	 	Warehouse/Office
	 	Nacho Brothers LLC
There is also a MTM sublease in SLC
with this closing
	5107 Lena Rd #110

	 	Bradenton
	 	FL
	 	 	34211-9494	 	 	Warehouse/Office
	 	CJV Corporation
	1370 West Government St

	 	Brandon
	 	MS
	 	 	39042	 	 	Warehouse/Office
	 	Crossgate Corporate Storage
	1370 W Government St #C27

	 	Brandon
	 	MS
	 	 	39042	 	 	Warehouse/Office
	 	Crossgate Corp Storage
	1103 Volunteer Parkway

	 	Bristol
	 	TN
	 	 	37620-0000	 	 	Warehouse/Office
	 	Capstone Real Estate Group Cap Realty
	2100 N. Willow Ave, Suite A & B

	 	Broken Arrow
	 	OK
	 	 	74012-0000	 	 	Warehouse/Office
	 	Willow Business Center, LLC
	3725 North 126th St., Unit M

	 	Brookfield
	 	WI
	 	 	53005-0000	 	 	Warehouse/Office
	 	SUNSET INVESTMENT
	6125 12th St SE

	 	Calgary
	 	AL
	 	 	T2H 2K1	 	 	Warehouse/Office
	 	Airstate Ltd
	1941 Savage Road, Suite 200B

	 	Charleston
	 	SC
	 	 	29407-0000	 	 	Warehouse/Office
	 	ANCHOR COMMERCIAL
	9535 Monroe Road, #120

	 	Charlotte
	 	NC
	 	 	28270-0000	 	 	Warehouse/Office
	 	9517 Monroe, LLC
	4725 Piedmont Row Dr #400

	 	Charlotte
	 	NC
	 	 	28210	 	 	Corporate Office
	 	PIEDMONT TOWERS
	4620 Piedmont Row Dr Unit 604-D

	 	Charlotte
	 	NC
	 	 	28210	 	 	Condominium
	 	TRIMBUR GROUP
	4620 Piedmont Row Dr Unit 309

	 	Charlotte
	 	NC
	 	 	28210	 	 	Condominium
	 	STEVE SWICEGOOD.
	2210 S. Holtclaw Ave

	 	Chattanooga
	 	TN
	 	 	37404-0000	 	 	Warehouse/Office
	 	Howard Wood
	801 Butler Street, Unit #7

	 	Chesapeake
	 	VA
	 	 	23323-0000	 	 	Warehouse/Office
	 	TEC Properties pay to SONNY TUDOR
	1356 Warren Williams Road

	 	Columbus
	 	GA
	 	 	31901-0000	 	 	Warehouse/Office
	 	JACKSON-BURGIN, INC.
	9155 Marshall Road, Lower Level One

	 	Cranberry Township
	 	PA
	 	 	16066-0000	 	 	Warehouse/Office
	 	WILLIAM JACK HOMES, INC.
	J&G Industrial Park

	 	Daytona Beach
	 	FL
	 	 	32114	 	 	Warehouse/Office
	 	P.F.L.P./ Barbara Cameron

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Street Address	 	City	 	ST	 	Zip	 	Nature of Use	 	LANDLORD NAME
	3411-107 Avenue

	 	Edmonton
	 	AL
	 	 	T5W 0C8	 	 	Warehouse/Office
	 	1179965 AB Ltd
	401 E Las Olas Blvd #1220

	 	Fort Lauderdale
	 	FL
	 	 	33301	 	 	Warehouse/Office
	 	Boise, Schiller, Flexner, LLC
	2161 Andrea Lane

	 	Fort Myers
	 	FL
	 	 	33907-0000	 	 	Warehouse/Office
	 	ANDREA LANE LTD
	5644 East Westover, Suite 110

	 	Fresno
	 	CA
	 	 	93727-1331	 	 	Warehouse/Office
	 	Westover & Larking
	2420 NW 66th Court, Suite B

	 	Gainesville
	 	FL
	 	 	32653-0000	 	 	Warehouse/Office
	 	Enrique J. Rabell
	4500 Greenpoint Drive, Suite 105

	 	Greensboro
	 	NC
	 	 	27409-0000	 	 	Warehouse/Office
	 	Liberty Property Limited Partnership
	5905 Green Point Drive South

	 	Groveport
	 	OH
	 	 	43125-0000	 	 	Warehouse/Office
	 	Meritex Green Pointe, LLC
	3858 Sylon Blvd

	 	Hainesport
	 	NJ
	 	 	08036-0000	 	 	Warehouse/Office
	 	South Hainesport Industrial Trust
	120 South St

	 	Hopkinton
	 	MA
	 	 	01748-2209	 	 	Warehouse/Office
	 	O’Brien Investment Management, LLC
	16750 Hedgecroft, Suite 512

	 	Houston
	 	TX
	 	 	77060-0000	 	 	Warehouse/Office
	 	THE KHOSHBIN PROPERTIES
	2753 Brill Rd

	 	Indianapolis
	 	IN
	 	 	46225	 	 	Warehouse/Office
	 	Wheeler Mission Ministries
	130 Hunter Village Drive, Suite F

	 	Irmo
	 	SC
	 	 	29063-0000	 	 	Warehouse/Office
	 	Katana Business Ctr — guarantor is SHFC
	2463 Lloyd Road

	 	Jacksonville
	 	FL
	 	 	32254-0000	 	 	Warehouse/Office
	 	Noel Lloyd LLC
	5227 North Middlebrook Pike, Suite D

	 	Knoxville
	 	TN
	 	 	37921-0000	 	 	Warehouse/Office
	 	BROWNLEE PROPERTIES
	4030 Kidron Road, #10

	 	Lakeland
	 	FL
	 	 	33811-0000	 	 	Warehouse/Office
	 	Ruthven Airpark LLC
	4020 Kidron Road, #1 & 2

	 	Lakeland
	 	FL
	 	 	33811-0000	 	 	Warehouse/Office
	 	Pace Investors, LLC
	538 36 St N.

	 	Lethbridge
	 	AL/CAN
	 	 	 	 	 	Warehouse/Office
	 	Andeo Holdings Ltd
	1854 Production Court

	 	Louisville
	 	KY
	 	 	40299-0000	 	 	Warehouse/Office
	 	Weston Kentucky LLC
	177-A Woodfield Dr.

	 	Macon
	 	GA
	 	 	31208-0000	 	 	Warehouse/Office
	 	Eberhardt & Barry Property Management
	2197 Canton Road, Suite 207

	 	Marietta
	 	GA
	 	 	30066-0000	 	 	Warehouse/Office
	 	TOH & ASSOC
	570 Alden Rd, Unit 5

	 	Markham
	 	ON
	 	 	L3R 8N5	 	 	Warehouse/Office
	 	Markham Gate Investments Limited
	11872 Dorsett Road

	 	Maryland Heights
	 	MO
	 	 	63043-0000	 	 	Warehouse/Office
	 	Hutkin Development Company
	620 E. Smith Rd, Unit E-6B

	 	Medina
	 	OH
	 	 	44256	 	 	Warehouse/Office
	 	620 East Smith Rd, Inc dba 620

Corporation
	11701 NW 102 Road #22

	 	Medley
	 	FL
	 	 	33178-0000	 	 	Warehouse/Office
	 	Flagler Development Company
	1710 Shelby Oaks Drive N, #15

	 	Memphis
	 	TN
	 	 	38134-0000	 	 	Warehouse/Office
	 	BICO Attn: A/R
	1910 E. Warner, Suites C&D

	 	Santa Ana
	 	CA
	 	 	92705	 	 	Warehouse/Office
	 	The Camera Living Trust
	750 Lakeside Drive, Suite E

	 	Mobile
	 	AL
	 	 	36693-0000	 	 	Warehouse/Office
	 	Lakeside Ventures, LLC

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Street Address	 	City	 	ST	 	Zip	 	Nature of Use	 	LANDLORD NAME
	35-37 Abbett Avenue

	 	Morristown
	 	NJ
	 	 	07960-0000	 	 	Warehouse/Office
	 	Abbett Business Park
	1650 Elm Hill Pike Suite 7

	 	Nashville
	 	TN
	 	 	37215-0000	 	 	Warehouse/Office
	 	FIRST INDUSTRIAL REALTY
	16601 Roscoe Place

	 	North Hills
	 	CA
	 	 	91343-0000	 	 	Warehouse/Office
	 	Caldwell Sutherland Trust
	720 W. Cheyenne Ave. Suite 60

	 	North Las Vegas
	 	NV
	 	 	89030-0000	 	 	Warehouse/Office
	 	Harsh Investment Properties, LLC
	4149 Highline Blvd #270

	 	OKC
	 	OK
	 	 	73108	 	 	Warehouse/Office
	 	Westpark Business Center Company LLC
	19000 W 158 St #J

	 	Olathe
	 	KS
	 	 	66062	 	 	Warehouse/Office
	 	Riffe
	4424 Seaboard Road, Suite A

	 	Orlando
	 	FL
	 	 	32808-0000	 	 	Warehouse/Office
	 	R.B.I. HOLDING COMPANY
	320 Thor Avenue #4

	 	Palm Bay
	 	FL
	 	 	32909-0000	 	 	Warehouse/Office
	 	Affordable Warehouse
	4006 S 23rd Street, #1

	 	Phoenix
	 	AZ
	 	 	85040-0000	 	 	Warehouse/Office
	 	RGA Properties LLC and BCCH,LLC (Cutler)
	3985 Gateway Center Blvd. #180

	 	Pinellas Park
	 	FL
	 	 	33782-0000	 	 	Warehouse/Office
	 	Gateway 135, LLC
	171 West Montcalm

	 	Pontiac
	 	MI
	 	 	48342-0000	 	 	Warehouse/Office
	 	SKI POWDER
	12729 NE Whitaker Way

	 	Portland
	 	OR
	 	 	97320-0000	 	 	Warehouse/Office
	 	TRI-DEVELOPMENT
	2014 Garner Station Blvd.

	 	Raleigh
	 	NC
	 	 	27603-0000	 	 	Warehouse/Office
	 	BPG MANAGEMENT Parker Lincoln
	3515 Airway Drive

	 	Reno
	 	NV
	 	 	89511-0000	 	 	Warehouse/Office
	 	Bayside Corporate Center (Reno)
	1200 Dinwiddie Avenue

	 	Richmond
	 	VA
	 	 	23224-0000	 	 	Warehouse/Office
	 	The WDS Company
	2000 Avenue P, Suite 11

	 	Riviera Beach
	 	FL
	 	 	33404-0000	 	 	Warehouse/Office
	 	RIVIERA DOLPHIN 1, LLC
	7736 Garland Circle Suite 105

	 	Roanoke
	 	VA
	 	 	24019	 	 	Warehouse/Office
	 	Stratford-VA, LLC
	1985 S. Milestone Drive, Unit C

	 	Salt Lake City
	 	UT
	 	 	84104-0000	 	 	Warehouse/Office
	 	Century East Business Center
	1042 Industry Drive

	 	Seattle
	 	WA
	 	 	98188-0000	 	 	Warehouse/Office
	 	Walton CWWA Tukwila 1, L.L.C. CalWest?
	29 Standen Dr Suite 104

	 	Hamilton
	 	OH
	 	 	45015	 	 	Warehouse/Office
	 	Dupps Properties
	350 Chapel Road, Unit 3

	 	South Windsor
	 	CT
	 	 	06074-0000	 	 	Warehouse/Office
	 	ESR INVESTMENT LLC
	1628 County Rd 10

	 	Spring Lake Park
	 	MN
	 	 	55432-000	 	 	Warehouse/Office
	 	Gabuk Properties, LLC
	2081 Exchange Dr

	 	St Charles
	 	MO
	 	 	63303	 	 	Warehouse/Office
	 	Wohsale Properties LLC
	122-5 Hamilton Park Drive

	 	Tallahassee
	 	FL
	 	 	32304-0000	 	 	Warehouse/Office
	 	Hamilton Leasing Partnership
	3305 Rutherford Road

	 	Taylors
	 	SC
	 	 	29687-0000	 	 	Warehouse/Office
	 	C. C. R. Management (Proffitt LP?)
	3959 E. Speedway Blvd., Suite 312

	 	Tucson
	 	AZ
	 	 	85712-0000	 	 	Warehouse/Office
	 	Central Point Business Plaza LP
	3751 North Fraser Way

	 	Vancouver
	 	BC
	 	 	V5J 5G4	 	 	Warehouse/Office
	 	BUK Investments Ltd

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Street Address	 	City	 	ST	 	Zip	 	Nature of Use	 	LANDLORD NAME
	2754 Sherwin Avenue, #7

	 	Ventura
	 	CA
	 	 	93003-0000	 	 	Warehouse/Office
	 	Whitmire Family Trust, paid to Robert
Whitmire
	4510 North Chase Pkwy N.E. Unit F

	 	Wilmington
	 	NC
	 	 	28405-7485	 	 	Warehouse/Office
	 	North Chase I LLC
	13621 Jefferson Davis Hy

	 	Woodbridge
	 	VA
	 	 	22191	 	 	Warehouse/Office
	 	Larry N. Scartz
	Building T-0503-0-58-00

	 	Toa Alta
	 	PR
	 	 	 	 	 	Warehouse/Office	 	 
	2501 Sw 57 Ave Unit 106

	 	Ocala
	 	FL
	 	 	33474	 	 	Warehouse/Office
	 	Wiechens Realty, Inc.
	11531 Portal Dr #21, 22

	 	Omaha
	 	NE
	 	 	68138	 	 	Warehouse/Office	 	 
	13601 Energy Way Unit A

	 	Waverly
	 	NE
	 	 	68462-1451	 	 	Warehouse/Office
	 	Over Pass Storage
	3101 NW 16th TE, Pompano

	 	Pompano Beach
	 	FL
	 	 	33064	 	 	Solid waste

collection site
	 	3010 Holdings, LLC
	1899 S.W. 31 Street

	 	Pembroke Park
	 	FL
	 	 	330009	 	 	Process solid waste
	 	The Kelsey Group, Inc.
	5151 Kenilworth Blvd.

	 	Sebring
	 	FL
	 	 	33870	 	 	Offices, vehicle

storage
	 	Alpha Lou Howard
	13300 N.W. 38th Court

	 	Opa Locka
	 	FL
	 	 	33054	 	 	Solid waste

collection,

recycling
	 	Choice Realty Holdings, L.L.C.
	7300 and 7320 N.E. 1st Place

	 	Miami
	 	FL
	 	 	33138	 	 	Waste processing,

recycling
	 	Alvin E. Kublin & Phyllis Kublin
	120 Jefferson Avenue

	 	Immokalee
	 	FL
	 	 	34142-3145	 	 	Vehicle and
container storage
	 	Immokalee Realty Holdings, L.L.C.
	5560-5584-5594 6th Street

	 	Lehigh Acres
	 	FL
	 	 	33905	 	 	Waste collection,

recycling
	 	Lee County Realty Holdings, L.L.C.
	 

	 	 	 	 	 	 	 	 	 	 	 	Milcos, LLC
	2860 State Road 84

	 	Fort Lauderdale
	 	FL
	 	 	33312	 	 	Office space
	 	Gulfstream Holdings, L.P.
	Point of Switch in Railway’s
southbound main track, 3491 feet
westerly of Mile Post LR-0

	 	 	 	 	 	 	 	 	 	400 feet of
industrial spur
track
	 	Florida East Coast Railway, L.L.C.
	3901 Riverland Road

	 	Fort Lauderdale
	 	FL
	 	 	33312	 	 	Storage unit
	 	U-Store-It Mini Warehouse Co.

 

 

SCHEDULE 5.15

The list of registered Intellectual Property is attached hereto and incorporated herein by
reference. In addition to the listed Intellectual Property are the following:

Fictitious Name: Santec Chemical, Registration Number G09000141036, Florida Department of State,
Division of Corporations.

Websites:

www.swisherhygiene.com

swisherhygieneinc.com

swisheremail.com

swisherhygiene.com

swishertraining.com

germcentral.com

sani-service.com

swisheronline.com

swishersafety.com

workingsafer.com

 

 

SWISHER INTERNATIONAL, INC.

DOMESTIC AND INTERNATIONAL

TRADEMARK STATUS REPORT

Dated: March 9, 2011

(Client No. 032479)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Next Due	 	 	 	 	 	 	 	Appln. No./	 	Reg. No./	 	8 & 15	 	Window	 	Renewal	 	Window	 	 	 	Matter
	 	 	Date	 	Mark	 	Cty	 	Status	 	Appln. Date	 	Reg. Date	 	Due	 	Opens	 	Due	 	Opens	 	Comments	 	No.
	1.

	 	02/14/12
	 	Swisher Total Image
	 	US
	 	REG
	 	78691594

08/12/05
	 	3059156

02/14/06
	 	02/14/12
	 	02/14/11
	 	02/14/16
	 	02/14/15
	 	The period is open for filing a Section 8 & 15 Affidavit
	 	 	.0409	 
	2.

	 	02/14/11-02/14/12
	 	“S” Design
	 	US
	 	REG
	 	78575314

02/25/05
	 	3059018

02/14/06
	 	02/14/12
	 	02/14/11
	 	02/14/16
	 	02/14/15
	 	The period is open for filing a Section 8 & 15 Affidavit
	 	 	.0403	 
	3.

	 	08/22/22-08/22/12
	 	Sanigenics (Cl. 42)
	 	US
	 	REG
	 	78721268

09/27/05
	 	3133017

08/22/06
	 	08/22/12
	 	08/22/11
	 	08/22/16
	 	08/22/15
	 	 	 	 	.0411	 
	4.

	 	08/22/11-08/22/12
	 	Sanigenics & Design (Cl. 42)
	 	US
	 	REG
	 	78721440

09/27/05
	 	3133022

08/22/06
	 	08/22/12
	 	08/22/11
	 	08/22/16
	 	08/22/15
	 	 	 	 	.0412	 
	5.

	 	08/22/11-08/22/12
	 	Sanigenics (Cl. 37)
	 	US
	 	REG
	 	78773348

12/14/05
	 	3133177

08/22/06
	 	08/22/12
	 	08/22/11
	 	08/22/16
	 	08/22/15
	 	 	 	 	.0417	 
	6.

	 	08/29/11
	 	Swisher
	 	Mexico
	 	REG
	 	504226

08/29/01
	 	752320

06/27/02
	 	N/A
	 	N/A
	 	08/29/11
	 	N/A
	 	 	 	 	.0600	 
	7.

	 	08/30/11
	 	Saniservice
	 	Canada
	 	REG
	 	744438

12/22/93
	 	TMA462236

08/30/96
	 	N/A
	 	N/A
	 	08/30/11
	 	N/A
	 	 	 	 	.0606	 
	8.

	 	09/19/11-09/19/12
	 	A Healthy Respect for Hygiene
	 	US
	 	REG
	 	78738048

10/21/05
	 	3145374

09/19/06
	 	09/19/12
	 	09/19/11
	 	09/19/16
	 	09/19/15
	 	 	 	 	.0413	 
	9.

	 	01/05/12-01/05/13
	 	Swisher & Design
	 	US
	 	REG
	 	74250147

02/27/92
	 	1744818

01/05/93
	 	Accepted
	 	N/A
	 	01/05/13
	 	01/05/12
	 	 	 	 	.0400	 
	10.

	 	01/21/12
	 	Swisher & Design
	 	Macau
	 	REG
	 	N/003045

01/21/98
	 	N/003045

07/03/98
	 	N/A
	 	N/A
	 	01/21/12
	 	N/A
	 	 	 	 	.0619	 
	11.

	 	02/25/12
	 	“S” Design
	 	Canada
	 	REG
	 	744427

12/22/93
	 	TMA471527

02/25/97
	 	N/A
	 	N/A
	 	02/25/12
	 	N/A
	 	 	 	 	.0607	 
	12.

	 	02/25/12
	 	“S” Swisher Maids & Design
	 	Canada
	 	REG
	 	755673

05/26/94
	 	TMA471555

02/25/97
	 	N/A
	 	N/A
	 	02/25/12
	 	N/A
	 	 	 	 	.0608	 
	13.

	 	05/22/12-05/22/13
	 	Steady Step & Design
	 	US
	 	REG
	 	78929606

07/14/06
	 	3244712

05/22/07
	 	05/22/13
	 	05/22/12
	 	05/22/17
	 	05/22/16
	 	 	 	 	.0420	 
	14.

	 	05/22/12-05/22/13
	 	Swisher Daily
	 	US
	 	REG
	 	78916999

06/26/06
	 	3244590

05/22/07
	 	05/22/13
	 	05/22/12
	 	05/22/17
	 	05/22/16
	 	 	 	 	.0421	 

1

 

SWISHER INTERNATIONAL, INC.

DOMESTIC AND INTERNATIONAL

TRADEMARK STATUS REPORT

Dated: March 9, 2011

(Client No. 032479)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Next Due	 	 	 	 	 	 	 	Appln. No./	 	Reg. No./	 	8 & 15	 	Window	 	Renewal	 	Window	 	 	 	Matter
	 	 	Date	 	Mark	 	Cty	 	Status	 	Appln. Date	 	Reg. Date	 	Due	 	Opens	 	Due	 	Opens	 	Comments	 	No.
	15.

	 	04/04/13
10th Anniv.
	 	Swisher & Design
	 	Philippines
	 	REG
	 	123799

08/20/97
	 	41997-123799

04/04/02
	 	04/04/13
10th Anniv.
	 	N/A
	 	4/4/2018
15th Anniv.
	 	N/A
	 	 	 	 	.0623	 
	16.

	 	06/24/13
	 	Swisher & Design
	 	Ecuador
	 	REG
	 	129437

12/05/02
	 	2221

06/24/03
	 	N/A
	 	N/A
	 	06/24/13
	 	N/A
	 	 	 	 	.0635	 
	17.

	 	06/24/13
	 	Swisher & Design
	 	Ecuador
	 	REG
	 	129438

12/05/02
	 	24467

06/24/03
	 	N/A
	 	N/A
	 	06/24/13
	 	N/A
	 	P. Matte has attempted to send communications to M.
Puente requesting that file information be forwarded to
Williams Mullen, attention Tom Bergert; however, M.
Puente cannot seem to be located.
	 	 	.0601	 
	18.

	 	06/24/13
	 	Swisher & Design
	 	Ecuador
	 	REG
	 	129798

12/17/02
	 	8329

06/24/03
	 	N/A
	 	N/A
	 	06/24/13
	 	N/A
	 	 	 	 	.0636	 
	19.

	 	01/09/14
	 	Swisher & Design (Cl. 16)
	 	Macau
	 	REG
	 	N/23848

01/09/07
	 	N/23848

01/09/07
	 	N/A
	 	N/A
	 	01/09/14
	 	N/A
	 	 	 	 	.0647	 
	20.

	 	01/25/14
	 	Swisher
	 	US
	 	REG
	 	74362093

02/25/93
	 	1818173

01/25/94
	 	Accepted
	 	N/A
	 	01/25/14
	 	N/A
	 	 	 	 	.0401	 
	21.

	 	02/15/14
	 	A Health Respect for Hygiene (Cl. 37)
	 	Macau
	 	REG
	 	N/23788

08/22/06
	 	N/23788

02/15/07
	 	N/A
	 	N/A
	 	02/15/14
	 	N/A
	 	 	 	 	.0650	 
	22.

	 	04/20/14
	 	Swisher & Design (Cl. 37)
	 	Macau
	 	REG
	 	N/23849

08/24/06
	 	N/23849

04/20/07
	 	N/A
	 	N/A
	 	04/20/14
	 	N/A
	 	 	 	 	.0651	 
	23.

	 	06/29/14
	 	Swisher (Cl. 37)
	 	CTM1
	 	REG
	 	3920683

06/29/04
	 	3920683

02/21/06
	 	N/A
	 	N/A
	 	08/29/14
	 	N/A
	 	 	 	 	.0621	 
	24.

	 	07/29/14
	 	Swisher & Design
	 	Guatemala
	 	REG
	 	007336-2003

10/09/03
	 	131162

07/29/04
	 	N/A
	 	N/A
	 	07/29/14
	 	N/A
	 	 	 	 	.0602	 
	25.

	 	11/19/14
	 	Swisher
	 	Turkey
	 	REG
	 	2004/37716

11/19/04
	 	2004/37716

06/28/05
	 	N/A
	 	N/A
	 	11/19/14
	 	N/A
	 	 	 	 	.0604	 

2

 

SWISHER INTERNATIONAL, INC.

DOMESTIC AND INTERNATIONAL

TRADEMARK STATUS REPORT

Dated: March 9, 2011

(Client No. 032479)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Next Due	 	 	 	 	 	 	 	Appln.No./	 	Reg. No./	 	8 & 15	 	Window	 	Renewal	 	Window	 	 	 	Matter
	 	 	Date	 	Mark	 	Cty	 	Status	 	Appln. Date	 	Reg. Date	 	Due	 	Opens	 	Due	 	Opens	 	Comments	 	No.
	26.

	 	11/19/14
	 	Swisher & Design
	 	Turkey
	 	REG
	 	2004/37717

11/19/04
	 	2004/37717

11/19/04
	 	N/A
	 	N/A
	 	11/19/14
	 	N/A
	 	 	 	 	.0605	 
	27.

	 	12/17/14
	 	Swisher
	 	New Zealand
	 	REG
	 	232932

12/17/93
	 	232932

01/22/97
	 	N/A
	 	N/A
	 	12/17/14
	 	N/A
	 	 	 	 	.0616	 
	28.

	 	12/17/14
	 	Swisher & Design
	 	New Zealand
	 	REG
	 	232933

12/17/93
	 	232933

01/22/97
	 	N/A
	 	N/A
	 	12/17/14
	 	N/A
	 	 	 	 	.0617	 
	29.

	 	01/12/15-01/12/16
	 	STI
	 	US
	 	REG
	 	78772806

12/14/05
	 	3738230

01/12/10
	 	01/12/16
	 	01/12/15
	 	01/12/20
	 	01/12/19
	 	 	 	 	.0410	 
	30.

	 	04/07/14-04/07/15
	 	Swisher Services & Design
	 	US
	 	REG
	 	78678233

07/26/05
	 	3604376

04/07/09
	 	04/07/15
	 	04/07/14
	 	04/07/19
	 	04/17/18
	 	 	 	 	.0408	 
	31.

	 	04/07/14-04/07/15
	 	Swisher Hygiene & Design
	 	US
	 	REG
	 	78677819

07/25/05
	 	3604375

04/07/09
	 	N/A
	 	N/A
	 	04/07/15
	 	N/A
	 	 	 	 	.0405	 
	32.

	 	09/09/15
	 	“S” Design
	 	CTM
	 	REG
	 	4580437

09/09/06
	 	4580437

08/31/06
	 	N/A
	 	N/A
	 	09/09/15
	 	N/A
	 	 	 	 	.0632	 
	33.

	 	03/26/16
	 	Sanigenics
(Cls. 5, 37 & 42)
	 	Hong Kong
	 	REG
	 	300608012

03/27/06
	 	300608012

03/27/06
	 	N/A
	 	N/A
	 	03/26/16
	 	N/A
	 	 	 	 	.0641	 
	34.

	 	03/26/16
	 	Sanigenics
(Cls. 5 & 42)
	 	Hong Kong
	 	REG
	 	300608021

03/27/06
	 	300608021

03/27/06
	 	N/A
	 	N/A
	 	03/26/16
	 	N/A
	 	 	 	 	.0642	 
	35.

	 	03/27/16
	 	Sanigenics
(Cls. 5, 37 & 42)
	 	Madrid Protocol2
	 	REG
	 	906192

03/27/06
	 	906192

03/27/06
	 	N/A
	 	N/A
	 	03/27/16
	 	N/A
	 	 	 	 	.0640	 
	36.

	 	04/20/16
	 	A Healthy Respect for Hygiene (Cl. 37)
	 	Australia
	 	REG
	 	1109562

04/20/06
	 	1109562

04/20/06
	 	N/A
	 	N/A
	 	04/20/16
	 	N/A
	 	 	 	 	.0644	 
	37.

	 	06/24/16
	 	Swisher & Design
	 	Hong Kong
	 	REG
	 	99/08072

06/24/99
	 	200006353

06/24/99
	 	N/A
	 	N/A
	 	06/24/16
	 	N/A
	 	 	 	 	.0613	 
	38.

	 	07/10/16
	 	Swisher & Design (Cl. 37)
	 	CTM
	 	REG
	 	287565

07/10/96
	 	287565

01/26/99
	 	N/A
	 	N/A
	 	07/10/16
	 	N/A
	 	 	 	 	.0603	 
	39.

	 	07/30/16
	 	Swisher & Design
	 	Australia
	 	REG
	 	713983

07/30/96
	 	713983

07/30/96
	 	N/A
	 	N/A
	 	07/30/16
	 	N/A
	 	 	 	 	.0609	 
	40.

	 	08/03/16
	 	Swisher & Design
	 	Singapore
	 	REG
	 	8108/96

08/03/96
	 	8108/96

08/03/96
	 	N/A
	 	N/A
	 	08/03/16
	 	N/A
	 	 	 	 	.0612	 

3

 

SWISHER INTERNATIONAL, INC.

DOMESTIC AND INTERNATIONAL

TRADEMARK STATUS REPORT

Dated: March 9, 2011

(Client No. 032479)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Next Due	 	 	 	 	 	 	 	Appln. No./	 	Reg. No./	 	8 & 15	 	Window	 	Renewal	 	Window	 	 	 	Matter
	 	 	Date	 	Mark	 	Cty	 	Status	 	Appln. Date	 	Reg. Date	 	Due	 	Opens	 	Due	 	Opens	 	Comments	 	No.
	41.

	 	08/12/16
	 	Swisher & Design
	 	Thailand
	 	REG
	 	314800

08/13/96
	 	BOR5642

09/02/97
	 	N/A
	 	N/A
	 	08/12/16
	 	N/A
	 	 	 	 	.0627	 
	42.

	 	08/23/16
	 	Swisher & Design (Cls. 16 & 37)
	 	Hong Kong
	 	REG
	 	300707337

08/24/06
	 	300707337

08/24/06
	 	N/A
	 	N/A
	 	08/23/16
	 	N/A
	 	 	 	 	.0646	 
	43.

	 	11/08/16
	 	Swisher & Design
	 	Indonesia
	 	REG
	 	J96-24802

11/08/96
	 	IDM0000816
36
(ex No. 402108)
11/08/96
	 	N/A
	 	N/A
	 	11/08/16
	 	N/A
	 	 	 	 	.0622	 
	44.

	 	08/28/17
	 	A Healthy Respect for Hygiene (Cl. 37)
	 	CTM
	 	REG
	 	6234983

08/28/07
	 	6234983

07/24/08
	 	N/A
	 	N/A
	 	08/28/17
	 	N/A
	 	 	 	 	.0652	 
	45.

	 	08/31/17
	 	Swisher & Design
	 	Taiwan
	 	REG
	 	(85)038080

08/02/96
	 	93545

09/01/97
	 	N/A
	 	N/A
	 	08/31/17
	 	N/A
	 	 	 	 	.0626	 
	46.

	 	12/01/17
	 	Swisher & Design
	 	Malaysia
	 	REG
	 	97/18894

12/01/97
	 	97/18894

12/01/97
	 	N/A
	 	N/A
	 	12/01/17
	 	N/A
	 	 	 	 	.0611	 
	47.

	 	12/05/17
	 	Swisher & Design
	 	Japan
	 	REG
	 	89829/96

12/05/97
	 	4089444

12/05/97
	 	N/A
	 	N/A
	 	12/05/17
	 	N/A
	 	 	 	 	.0624	 
	48.

	 	10/27/18
	 	Swisher & Design
	 	China
	 	REG
	 	970010 6284

10/09/97
	 	1219941

10/28/98
	 	N/A
	 	N/A
	 	10/27/18
	 	N/A
	 	 	 	 	.0610	 
	49.

	 	10/27/18
	 	Swisher & Design
	 	Korea
	 	REG
	 	97-11601

06/97
	 	49435

11/13/98
	 	N/A
	 	N/A
	 	10/27/18
	 	N/A
	 	Renewal appln. no. 51-2008-0004849
	 	 	.0615	 
	50.

	 	07/13/19
	 	Swisher & Design
	 	Ireland
	 	REG
	 	99/2377

07/14/99
	 	214241

07/14/99
	 	N/A
	 	N/A
	 	07/13/19
	 	N/A
	 	 	 	 	.0614	 
	51.

	 	08/27/19
	 	Swisher & Design (Cl. 16)
	 	Chine
	 	REG
	 	5535130 (Cl. 16)
	 	5535130

08/28/09
	 	N/A
	 	N/A
	 	08/27/19
	 	N/A
	 	Mark must be in use no later than 08/28/12
	 	 	.0645	 
	52.

	 	10/07/19
	 	Swisher & Design
	 	Norway
	 	REG
	 	199906182

06/24/99
	 	199799

10/07/99
	 	N/A
	 	N/A
	 	10/17/19
	 	N/A
	 	 	 	 	.0618	 
	53.

	 	11/27/19
	 	Swisher & Design (Cl. 37)
	 	China
	 	REG
	 	5535131 (Cl. 37)
	 	5535131

11/28/09
	 	N/A
	 	N/A
	 	11/27/19
	 	N/A
	 	Mark must in use no later than 11/28/12
	 	 	.0645	 

4

 

SWISHER INTERNATIONAL, INC.

DOMESTIC AND INTERNATIONAL

TRADEMARK STATUS REPORT

Dated: March 9, 2011

(Client No. 032479)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Next Due	 	 	 	 	 	 	 	Appln. No./	 	Reg. No./	 	8 & 15	 	Window	 	Renewal	 	Window	 	 	 	Matter
	 	 	Date	 	Mark	 	Cty	 	Status	 	Appln. Date	 	Reg. Date	 	Due	 	Opens	 	Due	 	Opens	 	Comments	 	No.
	54.

	 	07/17/22
	 	Sanigenics
	 	Canada
	 	REG
	 	1283489

12/13/05
	 	TMA692180

07/17/07
	 	N/A
	 	N/A
	 	07/17/22
	 	N/A
	 	 	 	 	.0633	 
	55.

	 	07/17/22
	 	Sanigenics & Design
	 	Canada
	 	REG
	 	1283488

12/13/05
	 	TMA692181

07/17/07
	 	N/A
	 	N/A
	 	07/17/22
	 	N/A
	 	 	 	 	.0634	 

 

			
	1	 	Countries currently covered under a Community Trade Mark (“CTM”) registration are: Austria,
Benelux (Belgium, the Netherlands and Luxembourg), Cyprus, the Czech Republic, Denmark, Estonia,
Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Poland,
Portugal, the Slovak Republic, Slovenia, Spain, Sweden and the United Kingdom.
	 
	2	 	This Madrid Protocol registration covers the following countries: Australia, China, European
Union and Singapore.

5

 

SCHEDULE 5.16

	 	 	Swisher — United States:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Type of	 	 	 	 	 	 	 	 	 	 
	Insurance	 	Policy Number	 	Coverage Limits	 	Deductibles	 	Insurer	 	Expiration Date
	Property

	 	YU2L5L289957040
	 	 Blanket
limit:

 $8,787,000
including 

Business
Income
	 	$5,000 for 

Property; $50,000

for Flood or Quake
	 	Liberty Mutual
	 	12/31/2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	General Liability

	 	TBKZ51289597030
	 	Liability
($1,000,000 per
Occurrence)
	 	None
	 	Liberty Mutual
	 	12/31/2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Automobile

	 	ASKZ51289957020
	 	$	1,000,000	 	 	None — Liability
coverage only
	 	Liberty Mutual
	 	12/31/2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Umbrella

	 	BE35053266
	 	$	25,000,000	 	 	None
	 	Chartis Specialty
Insurance. Co.
	 	12/31/2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Worker’s
Compensation

	 	WCCZ51289957010
	 	Statutory (WC)
	 	None
	 	Liberty Mutual
	 	6/01/2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	International
Package (Including
Property,
Liability, and
Auto)

	 	PHFD36885373
	 	$60,000 at unnamed

foreign locations,

$20,000 on vessels,

$1,000,000 per
occurrence —

Liability coverages
	 	Property — $2,500;

None for 

Liability
coverages
	 	ACE USA
	 	12/30/2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	ERISA Fidelity Bond

	 	22BDDEI1590
	 	$	150,000	 	 	None
	 	Hartford
	 	12/05/2012

 

 

     Swisher/Sani-Service Canada:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Type of Insurance	 	Policy Number	 	Limits	 	Deductibles	 	Insurer	 	Expiration Date
	Commercial Package

(including Property, 

General Liability &

Umbrella)

	 	 	501273160	 	 	Property limits

$530,500 
(4 locations);

$2,000,000 for GL

and $3,000,000 for
Umbrella
	 	$1,000 for
Property; 3% for
Earthquake; $2,500
for Liability (BI &
PD)
	 	Intact
	 	8/16/2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Automobile

	 	 	730505438	 	 	$	2,000,000	 	 	$1,000 -

Comprehensive &

Collision only
	 	Intact
	 	8/16/2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Automobile (In
British Columbia)

	 	One policy per
vehicle

 (341085525,

341091107,

341092313)
	 	$	5,000,000	 	 	$300 for

Comprehensive /

$500 for Collision
	 	ICBC (Government

run carrier)
	 	12/06/2011

     Note: All limits are in Canadian dollars

 

 

     CHOICE ENVIRONMENTAL SERVICES, INC.

	 	 	 
	American Empire (CRC)	 	Property
	National Union Fire Insurance Company of
Pittsburgh PA (Chartis)

	 	General Liability
	 
	 	 
	National Union Fire Insurance Company of
Pittsburgh PA (Chartis)

	 	Automobile — Liability
	 
	 	 
	National Union Fire Insurance Company of
Pittsburgh PA (Chartis)

	 	Automobile — Physical Damage
	 
	 	 
	Interstate Fire & Casualty Company (CRC)

	 	Excess — $5mm xs $1mm
	 
	 	 
	Everest Indemnity Insurance Company (CRC)

	 	Excess — 10mm xs $5mm
	 
	 	 
	National Union Fire Insurance Company of
Pittsburgh PA (Chartis)

	 	D&O/Crime/EPL
	 
	 	 
	Zenith Insurance Company

	 	Workers’ Compensation Insurance
	 
	 	 
	Florida Combined Life Insurance Company,
Inc.

	 	Dental Insurance
	 
	 	 
	Florida Combined Life Insurance Company,
Inc.

	 	Group Term Life Insurance
	 
	 	 
	BlueCross BlueShield of Florida

	 	Medical Plans
	 
	 	 
	Aflac

	 	Supplemental Insurance

 

 

SCHEDULE 5.20

     As of March 30, 2011, the Borrower has issued and outstanding: (i) 139,875,427 shares of
common stock which are listed on the NASDAQ Stock Market and the Toronto Stock Exchange; and (ii)
6,418,077 warrants to purchase the common stock of the Borrower. The Borrower has granted stock
options and restricted stock units to employees and consultants, however, all such equity grants
remain subject to the approval of the 2010 Stock Incentive Plan by the Borrower’s stockholders.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Percentage of
	 	 	 	 	 	 	 	 	No. of shares	 	Outstanding
	Name of Issuer	 	Type of Interests	 	Membership Interest	 	Certificate Number	 	(if applicable)	 	Interests in Issuer
	HB SERVICE OPERATING 

SUBSIDIARIES:	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	HB Service, LLC
	 	Membership Interests
	 	Swisher International, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Beverly Hills, LLC
	 	Membership Interests
	 	Service California, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service California, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Cincinnati, LLC
	 	Membership Interests
	 	Service Midwest, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Columbus, LLC
	 	Membership Interests
	 	Service Midwest, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Louisville, LLC
	 	Membership Interests
	 	Service Midwest, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Midwest LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Santec Chemical (DBA filing)
	 	N/A
	 	Service Gold Coast, LLC
	 	N/A
	 	N/A
	 	N/A
	 	 	 	 	 	 	 	 	 	 	 
	Service Arkansas, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Baltimore, LLC
	 	Membership Interests
	 	Service MidAtlantic, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Birmingham, LLC
	 	Membership Interests
	 	Service Gulf Coast, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Central FL, LLC
	 	Membership Interests
	 	Service North Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Chattanooga, LLC
	 	Membership Interests
	 	Service Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Columbia, LLC
	 	Membership Interests
	 	Service Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service DC, LLC*
	 	Membership Interests
	 	HB Service, LLC &

Larry Scartz
	 	N/A
	 	N/A
	 	80%
	 	 	 	 	 	 	 	 	 	 	 
	Service Denver, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Florida, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Gainesville, LLC
	 	Membership Interests
	 	Service Florida, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Gold Coast, LLC
	 	Membership Interests
	 	Service Florida, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Greenville, LLC
	 	Membership Interests
	 	Service Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Gulf Coast, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Hawaii, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Houston, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Las Vegas, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Memphis, LLC
	 	Membership Interests
	 	Service Gulf Coast, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Michigan, LLC*
	 	Membership Interests
	 	HB Service, LLC &

David Bradley, Inc.
	 	N/A
	 	N/A
	 	80%
	 	 	 	 	 	 	 	 	 	 	 
	Service MidAtlantic, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Nashville, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service New England, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service New Mexico, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Percentage of
	 	 	 	 	 	 	 	 	No. of shares	 	Outstanding
	Name of Issuer	 	Type of Interests	 	Membership Interest	 	Certificate Number	 	(if applicable)	 	Interests in Issuer
	Service New Orleans, LLC
	 	Membership Interests
	 	Service Gulf Coast, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service North, LLC
	 	Membership Interests
	 	Service - North Central, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service North Central, LLC
	 	Membership Interests
	 	Service Florida, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Oklahoma City, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Philadelphia, LLC
	 	Membership Interests
	 	Service MidAtlantic, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Phoenix, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Portland, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Salt Lake City, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Seattle, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service South, LLC
	 	Membership Interests
	 	Service Gulf Coast
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service St. Louis, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Tallahassee, LLC*
	 	Membership Interests
	 	Service Florida, LLC &

Tod Bierling
	 	N/A
	 	N/A
	 	60%
	 	 	 	 	 	 	 	 	 	 	 
	Service Tampa, LLC*
	 	Membership Interests
	 	Service Florida, LLC & Andrew

Martin
	 	N/A
	 	N/A
	 	80%
	 	 	 	 	 	 	 	 	 	 	 
	Service Tri Cities, LLC
	 	Membership Interests
	 	Service Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Virginia, LLC
	 	Membership Interests
	 	Service Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service West Coast, LLC*
	 	Membership Interests
	 	Service Florida, LLC,

Dave Goodwin &

Henry Gonzalez
	 	N/A
	 	N/A
	 	75%
	 	 	 	 	 	 	 	 	 	 	 
	Service Western Pennsylvania, 

LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Four State - Hygiene, Inc.
	 	Common Shares
	 	Service Western Pennsylvania, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Carolina, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Charlotte LLC
	 	Membership Interests
	 	Service Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Greensboro, LLC
	 	Membership Interests
	 	Service Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Raleigh, LLC
	 	Membership Interests
	 	Service Carolina, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Puerto Rico 4725, LLC
	 	Membership Interests
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	SWISHER COMPANIES:	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Swisher Hygiene Franchise Corp
	 	Common Shares
	 	Swisher International, Inc.
	 	1
	 	800
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Swisher International, Inc
	 	Common Shares
	 	Swisher Hygiene, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Swisher Pest Control Corp.
	 	Common Shares
	 	Swisher International, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Swisher Maids, Inc.
	 	Common Shares
	 	Swisher International, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	SHFC Finance, LLC
	 	Membership Interests
	 	Swisher International, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Service Minneapolis, LLC
	 	Membership Interests
	 	SHFC Operations, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	SHFC Operations, LLC
	 	Membership Interests
	 	Swisher International, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	7324375 Canada Inc
	 	Common Shares
	 	Swisher International, Inc.
	 	C - 1, C - 2
	 	100,001
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	1283465 Ontario Inc
	 	Common Shares
	 	732465 Canada Inc.
	 	COMA - 2, SA - 3, SB - 2,

SC - 2, SD - 2
	 	1,910
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Express Restaurant Equipment 

Service, Inc.
	 	Common Shares
	 	HB Service, LLC
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	AS A RESULT OF COOLBRANDS 

MERGER:	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	7624026 Canada Inc.
	 	Common Shares
	 	Swisher Hygiene Inc.
	 	C - 1, C - 2, C - 3
	 	2,003
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Integrated Brands, Inc.
	 	Common Shares
	 	7624026 Canada Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Eskimo Pie Corporation
	 	Common Shares
	 	Integrated Brands, Inc.
	 	N/A
	 	N/A
	 	100%

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Percentage of
	 	 	 	 	 	 	 	 	No. of shares	 	Outstanding
	Name of Issuer	 	Type of Interests	 	Membership Interest	 	Certificate Number	 	(if applicable)	 	Interests in Issuer
	AS A RESULT OF CHOICE MERGER:	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Choice Environmental 

Services, Inc.
	 	Common Shares
	 	Swisher Hygiene Inc.
	 	No. 1
	 	1,000
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Environmental Services 

of Broward, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Environmental Services 

of Collier, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Environmental Services 

of Dade County, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Environmental Services 

of Highlands County, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Environmental Services 

of Lee County, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Environmental Services 

of Miami, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Environmental Services 

of St Lucie, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Recycling Services of 

Broward, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%
	 	 	 	 	 	 	 	 	 	 	 
	Choice Recycling Services of 

Miami, Inc.
	 	Common Shares
	 	Choice Environmental Services, Inc.
	 	N/A
	 	N/A
	 	100%

 

			
	* 	 	These LLCs have both Class A and Class B members. The Class B members are
minority/non-management interests. See below for additional detail.

	 	 	 
	Subsidiary:	 	Service DC, LLC
	 

	 	Class A Member: HB Service, LLC

Class A Units Held: 8,000

Class B Member: Larry Scartz

Class B Units Held: 2,000
	 
	 	 
	Subsidiary:

	 	Service Michigan, LLC

Class A Member: HB Service, LLC

Class A Units Held: 800

Class B Member: David Bradley, Inc.

Class B Units Held: 200
	 
	 	 
	Subsidiary:

	 	Service Tallahassee, LLC

Class A Member: Service Florida, LLC

Class A Units Held: 6,000

Class B Member: Tod Bierling

Class B Units Held: 4,000
	 
	 	 
	Subsidiary:

	 	Service Tampa, LLC

Class A Member: Service Florida, LLC

Class A Units Held: 8,000

Class B Member: Andrew Martin

Class B Units Held: 2,000
	 
	 	 
	Subsidiary:

	 	Service West Coast, LLC

Class A Member: Service Florida, LLC

Class A Units Held: 7,500

Class B Member: Henry Gonzalez, III

Class B Units Held: 500

Class B Member: Dave Goodwin

Class B Units Held: 2,000

 

 

SCHEDULE 5.25

None.

 

 

SCHEDULE 8.3

Final Judgment against Service Tampa, LLC and Service West Coast, LLC, in favor of Kathleen Howe in
the sum of $800,000.00 (Eight Hundred Thousand Dollars), settled and satisfied pursuant to a
Settlement Agreement and Release of Claims dated August 10th, 2007. (Indebtedness
satisfied in full and in process of clearing lien of record).

Financing Statement filed in the Province of Ontario, Canada, File No. 624078216, dated April 7,
2006, as to Coolbrands International Inc., Debtor, and JP Morgan Bank, N.A. as Administrative
Agent, Secured Party, as modified on May 16, 2007. (Indebtedness satisfied in full and in process
of clearing lien of record).

Financing Statement filed in the Province of Ontario, Canada, File No. 623788965, dated March 29,
2006, as to Coolbrands International Inc., Debtor, and JP Morgan Bank, N.A. as Administrative
Agent, Secured Party, as modified May 16, 2007. (Indebtedness satisfied in full and in process of
clearing lien of record).

 

 

SCHEDULE 8.7

Loans and Advances from Stockholders

     The company has funded a significant amount of its growth and development through stockholder
loans and advances. From May 2008, through June 2010, the company borrowed an aggregate of
$21,445,000 from Royal Palm, an affiliate of Mr. Huizenga, pursuant to an unsecured promissory note
(the “Royal Palm Note”), which has been amended as additional amounts have been advanced. The note
bears interest at LIBOR plus two basis points. A schedule of the dates and amounts advanced by
Royal Palm pursuant to the Royal Palm Note through May, 2010 are as follows:

	 	 	 	 	 
	 	 	Principal	 
	Date of Note	 	Amount	 
	05/15/2008
	 	$	2,500,000	 
	09/16/2008
	 	 	2,500,000	 
	03/24/2009
	 	 	1,200,000	 
	06/02/2009
	 	 	2,000,000	 
	04/13/2009
	 	 	250,000	 
	07/10/2009
	 	 	595,000	 
	09/21/2009
	 	 	250,000	 
	10/14/2009
	 	 	1,500,000	 
	12/04/2009
	 	 	250,000	 
	12/09/2009
	 	 	5,800,000	 
	03/25/2010
	 	 	2,100,000	 
	5/26/2010
	 	 	2,500,000	 
	 
	 	 	 
	 
	 	 	 	 
	Total
	 	$	21,445,000	 
	 
	 	 	 

     In July 2010, Mr. Berrard purchased $10,722,500 of the total debt, including accrued interest,
represented by the Royal Palm Note. $16,845,000 of the borrowings under the Royal Palm Note are
reported in our audited financial statements as of and for the year ended December 31, 2009 as a
long-term liability. The aggregate $21,445,000, including $4,600,000 borrowed from Royal Palm
during the six months ended June 30, 2010, are reported in our unaudited interim financial
statements as of and for the nine months ended September 30, 2010 as a current liability because
the aggregate note was contributed as capital on November 2, 2010, in connection with the Merger.

     Subsequent to June 30, 2010, the company borrowed $2,000,000, $950,000 and $320,000 from Royal
Palm on August 9, 2010, August 31, 2010, and October 25, 2010, respectively, pursuant to unsecured
promissory notes. The notes bear interest at the short-term Applicable Federal Rate, as adjusted
on a monthly basis. The $2,000,000 note matures on November 2, 2011. The $1,270,000 note matured
and was repaid on the closing date of the Merger.

Stockholder Guarantees

     During the years ended December 31, 2009 and 2008, the company incurred or assumed $7,954,305
and $240,000, respectively, of debt to sellers in connection with certain acquisitions. Two of the
seller notes payable, totaling $3,050,000, are secured by letters of credit, which are secured by
certain assets of Messrs. Huizenga and Berrard.

HB Service, LLC

     In March 2005, Messrs. Berrard and Huizenga formed HB Service, LLC to acquire franchises and
related businesses under the Swisher name. Through September 2010, HB Service acquired and
operated 68 former franchises of the company and purchased nine other related businesses, for an
aggregate of $28,593,333. Effective

 

 

July 13, 2010, HB Service entered into a Contribution Agreement with the company pursuant to
which Messrs. Huizenga and Berrard contributed their membership interests in HB Service to the
company, at which time HB Service became a wholly-owned subsidiary of the company.

New River Capital Partners

During the fiscal year ended December 31, 2010, the company paid $51,300 for training course
development and utilization of the delivery platform from CertiLean, Inc., the majority of which is
owned by New River Capital Partners, a company owned by Messrs. Berrard, Byrne and Aucamp. In
February, 2011, the Company paid $126,363 to CertiLearn, Inc. to satisfy outstanding accrued
expenses, which were accrued since 2009.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]