Document:

Exhibit 10.27

                                 March 23, 2000

Resurgence Asset Management, L.L.C.
10 New King Street, 1st Floor
White Plains, NY 10604

         Re:  Exchange of Senior Discount Notes

Ladies/Gentlemen:

   The purpose of this letter is to confirm the agreement of Arch Communications
Group, Inc. ("Arch") and Resurgence Asset Management,  L.L.C.  ("Resurgence") as
follows:

   1. Exchange of Senior Discount Notes.  Resurgence  agrees to exchange,  or to
cause the exchange of, $100,000,000 in principal amount at maturity of Arch's 10
7/8% Senior  Discount  Notes Due 2008 (the "Notes")  owned by Resurgence  and/or
related entities (collectively,  the "Resurgence Entities") for 1,000,000 shares
of Arch's Series D Convertible  Preferred  Stock ("Series D Stock") as described
in Section 2 below.

   2. Terms of Preferred Stock.

   (a) The Series D Stock will:

      o  be convertible  into Arch's Common Stock at the holders'  option at any
         time at an exchange  ratio of 66.1318 shares of Common Stock per $1,000
         principal amount at maturity;

      o  be subject to mandatory conversion into Common Stock upon completion of
         Arch's pending merger with Paging Network, Inc. ("PageNet");

      o  commencing March 15, 2001, bear semi-annual dividends at the rate of 10
         7/8% per  annum,  payable  at  Arch's  option  in cash or  through  the
         issuance of Arch's Series E Preferred Stock ("Series E Stock");

      o  be subject to mandatory  redemption  on March 15, 2008 if redemption is
         then permitted by applicable law;

      o  vote with the Common Stock on an as-converted basis; and

      o  rank upon  liquidation  senior to the common stock and on a parity with
         Arch's Series C Convertible Preferred Stock.

   (b) If Arch issues  Series E Stock as a dividend  on the Series D Stock,  the
Series E Stock will be identical to the Series D Stock except that it will not:

      o  be subject to conversion into common stock;

<PAGE>

      o  have any voting rights except as required by law; or

      o  bear dividends.

   (c) The terms of the Series D Stock and Series E Stock  shall  conform to the
descriptions  contained  above  and  shall  be  contained  in a  Certificate  of
Designations  filed with the Secretary of State of Delaware.  The Certificate of
Designations  shall  be in  such  form as is  mutually  agreed  to by  Arch  and
Resurgence.

   3.  Representations.  Arch  and  Resurgence  (on  behalf  of  itself  and the
Resurgence Entities) hereby represent, warrant and agree as follows:

   (a) Resurgence approached Arch and initiated negotiations with Arch regarding
the exchange of Notes for Series D Stock as  contemplated  hereby.  Neither Arch
nor  anyone  acting  on  Arch's  behalf  approached  Resurgence  regarding  this
transaction.

   (b) Resurgence acknowledges that the transaction contemplated hereby is
intended  to be exempt  from  registration  by virtue of Section  3(a)(9) of the
Securities Act of 1933, as amended (the "Securities  Act").  Resurgence knows of
no reason why such exemption is not available.

   (c) Resurgence has had such  opportunity as it has deemed  adequate to obtain
from  representatives  of  Arch  such  information  as is  necessary  to  permit
Resurgence  to  evaluate  the merits and risks of the  transaction  contemplated
hereby.

   (d)  Resurgence  has  sufficient   experience  in  business,   financial  and
investment  matters to be able to evaluate the risks involved in the acquisition
of the Series D Stock, the Series E Stock and the Common Stock issued in respect
thereto  and to  make an  informed  investment  decision  with  respect  to such
acquisition.

   (e) The shares of Series D Stock, Series E Stock and Common Stock issued upon
conversion  of the  Series D Stock and  Series E Stock  will not be  "restricted
securities"  within  the  meaning  of Rule 144 under  the  Securities  Act.  The
certificate(s)  representing the Shares will not bear a restrictive legend under
the Securities Act.

   4.  Conditions  to Closing.  The  exchange of the Notes for Series D Stock as
contemplated hereby is subject to satisfaction of the following conditions:

   (a)  Resurgence  Entities  shall  have  sold to a  third  party  selected  by
Resurgence (the "Third Party") $53,865,000 principal amount at maturity of Notes
owned by Resurgence Entities (the "Third Party Notes") and the Third Party shall
have  exchanged  all of the Third Party Notes for shares of Arch Common Stock at
an exchange ratio of 66.1318 shares of Common Stock per $1,000  principal amount
at maturity.

   (b) Arch's  stockholders  shall have  approved the  proposed  increase in the
number of authorized  shares of Common Stock from  65,000,000 to 150,000,000 and
an amendment to

                                     - 2 -
<PAGE>

Arch's  Certificate of  Incorporation  reflecting  such increase shall have been
filed with the Secretary of State of Delaware.

   (c) A  Certificate  of  Designations  establishing  the terms of the Series D
Stock and Series E Stock and  consistent  with the terms  hereof shall have been
filed with the Secretary of State of Delaware.

   (d) Arch shall have  reserved for issuance  such number of shares of Series D
Stock,  Series E Stock and Common Stock as may be issuable  from time to time in
connection with the transactions contemplated hereby.

   (e) Arch  and the  Resurgence  Entities  shall  have  received  all  required
regulatory approvals in connection with the transactions contemplated hereby.

   (f) The transactions  contemplated  hereby shall have been approved by Arch's
bank lenders.

   (g) The  exchange  of all Notes for  Series D Stock and the  exchange  of all
Third  Party  Notes for  Common  Stock as  contemplated  hereby  shall have been
completed by April 30, 2000.

   5. Entire Agreement.  This Agreement  represents the entire understanding and
agreement  between the parties  hereto with respect to the subject matter hereof
and  supersedes  all  prior  oral  and  written  and  all  contemporaneous  oral
negotiations,  commitments and understandings  between such parties. The parties
may amend or modify this  Agreement,  in such manner as may be agreed upon, only
by a written instrument executed by the parties hereto.

   6.  Expenses.  Each party shall pay its own expenses in connection  with this
Agreement and the transactions contemplated hereby.

   7.  Governing  Law.  This  Agreement  shall be governed by and  construed  in
accordance with the laws of the State of Delaware.

   8. Severability.  The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other provision
of this Agreement.

   9. Counterparts.  This Agreement may be executed in two or more counterparts,
each of which shall be deemed to be an  original,  but all of which shall be one
and the same document.

                                     - 3 -
<PAGE>

   Please confirm your agreement by signing in the space indicated below.

                                        ARCH COMMUNICATIONS GROUP, INC.

                                        By:     /s/ J. Roy Pottle
                                               ------------------------

                                        Title: Chief Financial Officer
                                               ------------------------

  Agreed:

  RESURGENCE ASSET MANAGEMENT, L.L.C.

  By:    /s/ Robert T. Symington
         ----------------------------

  Title: Managing Director
         ----------------------------

                                     - 4 -EXECUTION COPY

                              CREDIT AGREEMENT

                                   among

                     WAUSAU-MOSINEE PAPER CORPORATION
                                as Borrower

                        CERTAIN OF ITS SUBSIDIARIES
                               as Guarantors

                            VARIOUS LENDERS

                                   and

                            BANK OF AMERICA, N.A.
                           as Administrative Agent

                       Dated as of December 10, 1999

                       BANC OF AMERICA SECURITIES LLC
                       Lead Arranger and Book Manager

                               BANK ONE, NA
                             Syndication Agent

                                    and

                        M&I MARSHALL & ILSLEY BANK
                                  Co-Agent

                             TABLE OF CONTENTS

                                    PAGE

 ARTICLE I  DEFINITIONS, ETC                                           1
     SECTION 1.1  DEFINITIONS                                          1
     SECTION 1.2  GENERAL                                             18
     SECTION 1.3  OTHER DEFINITIONS AND PROVISIONS                    18
 ARTICLE II  CREDIT FACILITIES                                        19
     SECTION 2.1  AMOUNT AND TERMS OF CREDIT                          19
     SECTION 2.2  PROCEDURE FOR ADVANCES OF REVOLVING CREDIT LOANS    20
     SECTION 2.3  REPAYMENT OF LOANS                                  20
     SECTION 2.4  REVOLVING CREDIT NOTES                              22
     SECTION 2.5  COMPETITIVE BID LOANS AND PROCEDURE                 22
     SECTION 2.6  SWINGLINE LOANS AND PROCEDURE                       25
     SECTION 2.7  COMMITMENT REDUCTIONS                               28
<PAGE>
     SECTION 2.8  TERMINATION; EXTENSION OPTION                       29
 ARTICLE III  LETTER OF CREDIT FACILITY                               30
     SECTION 3.1  L/C COMMITMENT                                      30
     SECTION 3.2  PROCEDURE FOR ISSUANCE OF LETTERS OF CREDIT         30
     SECTION 3.3  FEES AND OTHER CHARGES                              31
     SECTION 3.4  L/C PARTICIPATIONS                                  31
     SECTION 3.5  REIMBURSEMENT OBLIGATION OF THE BORROWER            32
     SECTION 3.6  OBLIGATIONS ABSOLUTE                                33
     SECTION 3.7  EFFECT OF L/C APPLICATION                           33
 ARTICLE IV  GENERAL LOAN PROVISIONS                                  34
     SECTION 4.1  INTEREST                                            34
     SECTION 4.2  CONVERSION AND CONTINUATION OF REVOLVING CREDIT
                  LOANS                                               36
     SECTION 4.3  FACILITY FEES                                       36
     SECTION 4.4  MANNER OF PAYMENT                                   37
     SECTION 4.5  CREDITING OF PAYMENTS AND PROCEEDS                  38
     SECTION 4.6  ADJUSTMENTS                                         38
     SECTION 4.7  NATURE OF OBLIGATIONS OF LENDERS REGARDING
                  EXTENSIONS OF CREDIT; ASSUMPTION BY THE
                  ADMINISTRATIVE AGENT                                38
     SECTION 4.8  CHANGED CIRCUMSTANCES                               39
     SECTION 4.9  INDEMNITY                                           41
     SECTION 4.10  CAPITAL REQUIREMENTS                               42
     SECTION 4.11  TAXES                                              42
 ARTICLE V  CLOSING; CONDITIONS OF CLOSING AND BORROWING              44
     SECTION 5.1  CLOSING                                             44
     SECTION 5.2  CONDITIONS TO CLOSING                               44
                                   i
     SECTION 5.3  CONDITIONS TO ALL EXTENSIONS OF CREDIT              47
 ARTICLE VI  REPRESENTATIONS AND WARRANTIES OF THE CREDIT PARTIES     48
     SECTION 6.1  REPRESENTATIONS AND WARRANTIES                      48
     SECTION 6.2  SURVIVAL OF REPRESENTATIONS AND WARRANTIES, ETC     55
 ARTICLE VII  FINANCIAL INFORMATION AND NOTICES                       56
     SECTION 7.1  FINANCIAL STATEMENTS, ETC                           56
     SECTION 7.2  OFFICER'S COMPLIANCE CERTIFICATE                    57
     SECTION 7.3  ACCOUNTANTS' CERTIFICATE                            57
     SECTION 7.4  OTHER REPORTS                                       57
     SECTION 7.5  NOTICE OF LITIGATION AND OTHER MATTERS              57
     SECTION 7.6  ACCURACY OF INFORMATION                             58
 ARTICLE VIII  AFFIRMATIVE COVENANTS                                  58
     SECTION 8.1  PRESERVATION OF CORPORATE EXISTENCE AND
                  RELATED MATTERS                                     59
     SECTION 8.2  MAINTENANCE OF PROPERTY                             59
     SECTION 8.3  INSURANCE                                           59
     SECTION 8.4  ACCOUNTING METHODS AND FINANCIAL RECORDS            59
     SECTION 8.5  PAYMENT AND PERFORMANCE OF OBLIGATIONS              59
     SECTION 8.6  COMPLIANCE WITH LAWS AND APPROVALS                  60
     SECTION 8.7  ENVIRONMENTAL LAWS                                  60
     SECTION 8.8  COMPLIANCE WITH ERISA                               61
     SECTION 8.9  CONDUCT OF BUSINESS                                 61
     SECTION 8.10  VISITS AND INSPECTIONS                             61
     SECTION 8.11  USE OF PROCEEDS                                    61
     SECTION 8.12  YEAR 2000 COMPATIBILITY                            61
     SECTION 8.13  ADDITIONAL CREDIT PARTIES                          61
 ARTICLE IX  NEGATIVE COVENANTS                                       62
     SECTION 9.1  FINANCIAL COVENANTS                                 62
<PAGE>
     SECTION 9.2  LIMITATIONS ON LIENS                                62
     SECTION 9.3  LIMITATIONS ON MERGERS AND LIQUIDATION              64
     SECTION 9.4  LIMITATIONS ON SALE OR TRANSFER OF ASSETS           64
     SECTION 9.5  PROHIBITIONS ON LIMITATIONS ON DIVIDENDS AND
                  DISTRIBUTIONS                                       64
     SECTION 9.6  TRANSACTIONS WITH AFFILIATES                        65
     SECTION 9.7  CERTAIN ACCOUNTING CHANGES                          65
     SECTION 9.8  LIMITATIONS ON ACQUISITIONS                         65
     SECTION 9.9  SALE LEASEBACK TRANSACTIONS                         66
 ARTICLE X  GUARANTY                                                  66
     SECTION 10.1  GUARANTY OF PAYMENT                                66
     SECTION 10.2  OBLIGATIONS UNCONDITIONAL                          66
     SECTION 10.3  MODIFICATIONS                                      67
     SECTION 10.4  WAIVER OF RIGHTS                                   67
     SECTION 10.5  REINSTATEMENT                                      68
                                   ii
     SECTION 10.6  REMEDIES                                           68
     SECTION 10.7  LIMITATION OF GUARANTY                             68
 ARTICLE XI  DEFAULT AND REMEDIES                                     69
     SECTION 11.1  EVENTS OF DEFAULT                                  69
     SECTION 11.2  REMEDIES                                           72
     SECTION 11.3  RIGHTS AND REMEDIES CUMULATIVE; NON-WAIVER; ETC    73
 ARTICLE XII  THE ADMINISTRATIVE AGENT                                73
     SECTION 12.1  APPOINTMENT                                        73
     SECTION 12.2  DELEGATION OF DUTIES                               74
     SECTION 12.3  EXCULPATORY PROVISIONS                             74
     SECTION 12.4  RELIANCE BY THE ADMINISTRATIVE AGENT               74
     SECTION 12.5  NOTICE OF DEFAULT                                  75
     SECTION 12.6  NON-RELIANCE ON THE ADMINISTRATIVE AGENT AND OTHER
                   LENDERS                                            75
     SECTION 12.7  INDEMNIFICATION                                    76
     SECTION 12.8  THE ADMINISTRATIVE AGENT IN ITS INDIVIDUAL CAPACITY76
     SECTION 12.9  RESIGNATION OF THE ADMINISTRATIVE AGENT;  SUCCESSOR
                   ADMINISTRATIVE AGENT                               76
 ARTICLE XIII  MISCELLANEOUS                                          77
     SECTION 13.1  NOTICES                                            77
     SECTION 13.2  EXPENSES, INDEMNITY                                78
     SECTION 13.3  SET-OFF                                            79
     SECTION 13.4  GOVERNING LAW                                      79
     SECTION 13.5  CONSENT TO JURISDICTION                            79
     SECTION 13.6  WAIVER OF JURY TRIAL                               80
     SECTION 13.7  REVERSAL OF PAYMENTS                               80
     SECTION 13.8  ACCOUNTING MATTERS                                 80
     SECTION 13.9  SUCCESSORS AND ASSIGNS; PARTICIPATIONS;
                   CONFIDENTIALITY                                    80
     SECTION 13.10  AMENDMENTS, WAIVERS AND CONSENTS                  84
     SECTION 13.11  PERFORMANCE OF DUTIES                             84
     SECTION 13.12  ALL POWERS COUPLED WITH INTEREST                  84
     SECTION 13.13  SURVIVAL OF INDEMNITIES                           85
     SECTION 13.14  TITLES AND CAPTIONS                               85
     SECTION 13.15  SEVERABILITY OF PROVISIONS                        85
     SECTION 13.16  COUNTERPARTS                                      85
     SECTION 13.17  BINDING EFFECT; AMENDMENT AND RESTATEMENT; TERM
                    OF AGREEMENT                                      85
     SECTION 13.18  INCONSISTENCIES WITH OTHER DOCUMENTS; INDEPENDENT
                    EFFECT OF COVENANTS                               86
<PAGE>
     SECTION 13.19  INTERCREDITOR AGREEMENT                           86
                                   iii
                                 SCHEDULES

 Schedule 1.1(a) -  Commitments as of Closing Date

 Schedule 6.1(b) -  Subsidiaries of the Borrower

 Schedule 6.1(p) -  Debt and Support Obligations of the Credit Parties
                    and any Subsidiary in Excess of $5 Million as of
                    Closing Date

 Schedule 9.2  -    Liens as of Closing Date

 Schedule 9.5  -    Restrictions and Limitations on Subsidiary Dividends
                    and Distributions as of Closing Date

 Schedule 13.1 -    Notice Addresses for Lenders

                                  EXHIBITS

 Exhibit A  -   Form of Revolving Credit Note
 Exhibit B-1 -  Form of Notice of Revolving Credit Borrowing
 Exhibit B-2 -  Form of Notice of Swingline Borrowing
 Exhibit C  -   Form of Notice of Account Designation
 Exhibit D  -   Form of Notice of Prepayment
 Exhibit E  -   Form of Guarantor Joinder Agreement
 Exhibit F  -   Form of Notice of Conversion/Continuation
 Exhibit G  -   Form of Officer's Compliance Certificate
 Exhibit H  -   Form of Assignment and Acceptance
 Exhibit I  -   Form of Joinder to Intercreditor Agreement
                                   iv
     CREDIT AGREEMENT dated as of December 10, 1999 among WAUSAU-MOSINEE
 PAPER CORPORATION, a Wisconsin corporation (the "BORROWER"), certain of
 the Borrower's Subsidiaries from time to time party hereto (each a
 "GUARANTOR," and together with the Borrower, the "CREDIT PARTIES," and
 each, a "CREDIT PARTY"), the Lenders from time to time party hereto and
 BANK OF AMERICA, N.A., as Administrative Agent (the "ADMINISTRATIVE
 AGENT") (all capitalized terms used herein and defined in Section 1.1
 are used herein as therein defined).

                            STATEMENT OF PURPOSE

     WHEREAS, the Borrower (formerly known as Wausau Paper Mills
 Company), Harris Trust and Savings Bank, M & I Marshall & Ilsley Bank,
 The First National Bank of Chicago (now known as Bank One, NA) and
 NationsBank, N.A. (now known as Bank of America, N.A.) are parties to
 that certain Third Amended and Restated Credit Agreement dated as of
 March 29, 1996 (as amended by that certain First Amendment thereto
 dated as of May 8, 1997 and that certain Second Amendment and Waiver
 thereto dated as of December 15, 1997 and as otherwise modified prior
 to the date hereof, the "EXISTING CREDIT AGREEMENT");

       WHEREAS, the Credit Parties wish to amend and restate the
 Existing Credit Agreement and establish with the Lenders credit
 facilities providing for revolving loans and letters of credit of up
 to $200,000,000
<PAGE>
 in the aggregate maximum principal amount at any time outstanding, and
 the Lenders and the Administrative Agent are willing to amend and
 restate the Existing Credit Agreement and establish such credit
 facilities on the terms and conditions set forth herein;

      NOW, THEREFORE, for good and valuable consideration, the receipt
 and sufficiency of which is hereby acknowledged by the parties hereto,
 such parties hereby agree as follows:

                                 ARTICLE I

                             DEFINITIONS, ETC.

     SECTION 1.1    DEFINITIONS.

     The following terms when used in this Agreement shall have the
 meanings assigned to them below:

     "364 DAY FACILITY" means the short term revolving credit facility
 established pursuant to Section 2.1 hereof.

     "364 DAY FACILITY COMMITMENT" means (a) as to any Lender, the
 obligation of such Lender to make Revolving Credit Loans under the 364
 Day Facility for the accounts of the Borrower in an aggregate principal
 amount at any time outstanding not to exceed the amount set forth
 opposite such Lender's name on SCHEDULE 1.1(A) hereto, as such amount
 may be reduced or modified at any time or from time to time pursuant to
 the terms hereof and (b) as to all Lenders, the aggregate 364 Day
 Facility Commitment of all Lenders to make Revolving Credit Loans under
 the 364 Day Facility, as such amount may be reduced or modified at any
 time or from time to time pursuant to the terms hereof.  The 364 Day
 Facility Commitment of all Lenders on the Closing Date shall be Fifty
 Million Dollars ($50,000,000).

     "364 DAY FACILITY COMMITMENT PERCENTAGE" means, as to any Lender at
 any time, the ratio of (a) the amount of the 364 Day Facility
 Commitment of such Lender to (b) the aggregate 364 Day Facility
 Commitment of all of the Lenders.

     "364 DAY FACILITY FEE" shall have the meaning assigned thereto in
 Section 4.3(a).

     "364 DAY FACILITY SPECIFIED MATURITY DATE" means December 9, 2000
 or such later date as determined pursuant to Section 2.8(c).

     "364 DAY FACILITY TERMINATION DATE" means the earliest of the dates
 referred to in Section 2.8(a).

     "ADMINISTRATIVE AGENT" means Bank of America in its capacity as
 Administrative Agent hereunder, and any successor thereto appointed
 pursuant to Section 12.9.

     "ADMINISTRATIVE AGENT'S OFFICE" means the office of the
 Administrative Agent specified in or determined in accordance with the
 provisions of Section 13.1(c).
<PAGE>
     "AFFILIATE" means, with respect to any Person, any other Person
 (other than a Subsidiary) which directly or indirectly through one or
 more intermediaries, controls, or is controlled by, or is under common
 control with, such first Person or any of its Subsidiaries.  The term
 "control" means the possession, directly or indirectly, of any power to
 direct or cause the direction of the management and policies of a
 Person, whether through ownership of voting securities, by contract or
 otherwise.

     "AGGREGATE REVOLVING CREDIT COMMITMENT" means (a) as to any Lender,
 the aggregate of such Lender's 364 Day Facility Commitment and Five
 Year Facility Commitment, as such amount may be reduced or modified at
 any time or from time to time pursuant to the terms hereof and (b) as
 to all Lenders, the aggregate 364 Day Facility Commitment and Five Year
 Facility Commitment of all Lenders, as such amount may be reduced or
 modified at any time or from time to time pursuant to the terms hereof.
 The Aggregate Revolving Credit Commitment of all Lenders on the Closing
 Date shall be Two Hundred Million Dollars ($200,000,000).

     "AGGREGATE REVOLVING CREDIT COMMITMENT PERCENTAGE" means, as to any
 Lender at any time, the ratio of (a) such Lender's Aggregate Revolving
 Credit Commitment to (b) the Aggregate Revolving Credit Commitment of
 all of the Lenders.

     "AGREEMENT" means this Credit Agreement, as amended, restated,
 supplemented or otherwise modified.
                                   2
     "APPLICABLE LAW" means all applicable provisions of constitutions,
 laws, statutes, ordinances, rules, treaties, regulations, permits,
 licenses, approvals, interpretations and orders of Governmental
 Authorities and all orders and decrees of all courts and arbitrators.

     "APPLICABLE PERCENTAGE" means, for purposes of calculating (a) the
 interest rate applicable to Offshore Rate Loans for purposes of Section
 4.1(a); (b) the L/C Fee for purposes of Section 3.3(a); (c) the
 Facility Fees for purposes of 4.3; or (d) the Utilization Fee for
 purposes of Section 4.1(f), the rate set forth below opposite the
 applicable Funded Debt/Capitalization Ratio then in effect:
<TABLE>
<CAPTION>
                                              Offshore
                                               Rate
                                               Loans
                          Rate                under the
                          Loans     Facility  Five Year Facility
             Funded Debt/ under the Fee for   Facility  Fee For
 Pricing  Capitalization  364 Day   364 Day   and L/C   Five Year Utilization Utilization
 Level         Ratio      Facility  Facility    Fee     Facility  >25% but <50% >50%
   <S>    <C>               <C>     <C>        <C>        <C>        <C>       <C>
     I    * 60% but * 50%   0.650%  0.225%     0.625%     0.250%     0.125%    .250%
    II    * 40% but < 50%   0.475%  0.175%     0.425%     0.225%     0.125%    .250%
   III    * 30% but < 40%   0.350%  0.150%     0.325%     0.175%     0.125%    .250%
    IV    * 20% but < 30%   0.275%  0.125%     0.250%     0.150%     0.125%    .250%
     V         < 20%        0.200%  0.100%     0.175%     0.125%     0.125%    .250%
</TABLE>
 The Applicable Percentage shall be determined and adjusted quarterly on
 the date (each a "RATE DETERMINATION DATE") five(5) Business Days after
<PAGE>
 the date by which the annual or quarterly compliance certificates, as
 applicable, and related financial statements and information are
 required in accordance with the provisions of Sections 7.1(a) and (b)
 and Section 7.2, as appropriate; PROVIDED that:

          (i)  the initial Applicable Percentages shall be based on
      Pricing Level III and shall remain in effect at such Pricing Level
      until the first Rate Determination Date to occur after the Closing
      Date, and

          (ii)  in the event an annual or quarterly compliance
      certificate and related financial statements and information are
      not delivered timely to the Administrative Agent's Office by the
      date required by Sections 7.1(a) and (b) and Section 7.2, as
      appropriate, the Applicable Percentages shall be based on Pricing
      Level I until such time as an appropriate compliance certificate
      and related financial statements and information are delivered.

 Each Applicable Percentage shall be effective from a Rate Determination
 Date until the next such Rate Determination Date.  The Administrative
 Agent shall determine the appropriate Applicable Percentages in the
 pricing matrix promptly upon receipt of the quarterly or annual
 compliance certificate and related financial information and shall
 promptly notify the Borrower and the Lenders of any change thereof.
 Such determinations by the Administrative Agent shall be conclusive
                                   3
 absent manifest error.  Adjustments in the Applicable Percentages shall
 be effective as to existing Extensions of Credit as well as any new
 Extension of Credit made thereafter.

     "ARRANGER" means Banc of America Securities LLC in its capacity as
 Lead Arranger and Book Manager for the Credit Facility.

     "ASSIGNMENT AND ACCEPTANCE" shall have the meaning assigned thereto
 in Section 13.9(b)(iii).

     "BANK OF AMERICA" means Bank of America, N.A., a national banking
 association, and its successors.

     "BANKRUPTCY EVENT" means any of the events set forth in Section
 11.1(i), (j), (k) or (l), or any of those events which with the passage
 of time, the giving of notice or any other condition, would constitute
 such an event, in respect of any of the Credit Parties or any of their
 Material Subsidiaries.

     "BASE RATE" means, at any time, the higher of (a)the Prime Rate and
 (b) the sum of (i) the Federal Funds Rate PLUS (ii) 1/2 of 1%; each
 change in the Base Rate shall take effect simultaneously with the
 corresponding change or changes in the Prime Rate or the Federal Funds
 Rate.

     "BASE RATE LOAN" means any Loan bearing interest at a rate based
 upon the Base Rate as provided in Section 4.1(a).

     "BORROWER" means Wausau-Mosinee Paper Corporation, a Wisconsin
 corporation.
<PAGE>
     "BUSINESS DAY" means any day other than a Saturday, a Sunday, a
 legal holiday or a day on which banking institutions are authorized or
 required by law or other governmental action to close in Charlotte,
 North Carolina; PROVIDED that in the case of Offshore Rate Loans, such
 day is also a day on which dealings between banks are carried on in
 U.S. dollar deposits in the London interbank market.

     "CAPITAL LEASE" means, with respect to any Person, any lease of any
 property that should, in accordance with GAAP, be classified and
 accounted for as a capital lease on a Consolidated balance sheet of
 such Person and its Consolidated Subsidiaries.

     "CHANGE IN CONTROL" shall have the meaning assigned thereto in
 Section 11.1(h).

     "CLOSING DATE" means the date of this Agreement or such later
 Business Day upon which each condition described in Section 5.1 and
 Section 5.2 shall be satisfied or waived in all respects.

     "CODE" means the Internal Revenue Code of 1986, and the rules and
 regulations thereunder, each as amended, supplemented or otherwise
 modified from time to time.
                                   4
     "COMMITMENT" means, as to any Lender at any time, such Lender's 364
 Day Facility Commitment, Five Year Facility Commitment or Aggregate
 Revolving Credit Commitment, as the context requires.

     "COMMITMENT PERCENTAGE" means, as to any Lender at any time, such
 Lender's 364 Day Facility Commitment Percentage, Five Year Facility
 Commitment Percentage or Aggregate Revolving Credit Commitment
 Percentage, as the context requires.

     "COMPETITIVE BID" means an offer by a Lender to make a Competitive
 Bid Loan in accordance with Section 2.5.

     "COMPETITIVE BID LOANS" means any Loan made pursuant to Section 2.5
 and all such Loans collectively as the context requires.

     "COMPETITIVE BID RATE" means the rate of interest per annum
 expressed in multiples of l/100{th} of one percent offered with respect
 to any Competitive Bid Loan offered by the Lender making such
 Competitive Bid.

     "COMPETITIVE BID REQUEST" means a request by the Borrower for
 Competitive Bids in accordance with Section 2.5.

     "CONSOLIDATED" means, when used with reference to financial
 statements or financial statement items of a Person and its
 Subsidiaries, such statements or items on a consolidated basis in
 accordance with applicable principles of consolidation under GAAP.

     "CONSOLIDATED CAPITALIZATION" means Consolidated Funded Debt PLUS
 Consolidated Net Worth.

     "CONSOLIDATED EBIT" means, for any period, as applied to the
 Borrower and its Consolidated Subsidiaries without duplication, the sum
 of the amounts for such period of: (i) Consolidated Net Income, (ii)
<PAGE>
 Consolidated Interest Expense and (iii) all federal and state income
 tax expense, all of the foregoing as determined and computed on a
 Consolidated basis in accordance with GAAP.

     "CONSOLIDATED FUNDED DEBT" means, as of any date, all Funded Debt
 of the Borrower and its Consolidated Subsidiaries, determined on a
 Consolidated basis in accordance with GAAP.

     "CONSOLIDATED INTEREST EXPENSE" means, for any period, as applied
 to the Borrower and its Consolidated Subsidiaries, all interest expense
 (whether paid or accrued) and capitalized interest, including without
 limitation (a) the amortization of debt discount and premium, (b) the
 interest component under Capital Leases and synthetic leases and (c)
 the implied interest component, discount or other similar fees or
 charges in connection with any asset securitization program, in each
 case determined on a Consolidated basis in accordance with GAAP.
                                   5
     "CONSOLIDATED NET INCOME" means, for any period, the net income,
 after taxes, of the Borrower and its Consolidated Subsidiaries for such
 period determined on a Consolidated basis in accordance with GAAP, but
 excluding, to the extent reflected in determining such net income, (a)
 extraordinary gains and losses for such period and (b) any equity
 interests of the Borrower or any Subsidiary in the unremitted earnings
 of any Person that is not a Subsidiary.

     "CONSOLIDATED NET WORTH" means, as of any date, as applied to the
 Borrower and its Consolidated Subsidiaries, shareholders' equity or net
 worth as determined and computed on a Consolidated basis in accordance
 with GAAP.

     "CONSOLIDATED SUBSIDIARY" means, at any date, any Subsidiary or
 other entity the accounts of which, in accordance with GAAP, are
 consolidated with those of the Borrower in its consolidated financial
 statements as of such date.

     "CONSOLIDATED TOTAL ASSETS" means, as of any date, the assets and
 properties of the Borrower and its Consolidated Subsidiaries,
 determined on a Consolidated basis in accordance with GAAP.

     "CREDIT FACILITY" means the collective reference to the 364 Day
 Facility, the Five Year Facility and the L/C Facility or any one of
 them, as the context requires.

     "CREDIT PARTIES" means, collectively, the Borrower and the
 Guarantors; "CREDIT PARTY" means any one of them.

     "CURRENT SEC REPORTS" means the most recent report on Form 10-K, or
 any successor form, and any amendments thereto filed by the Borrower
 with the Securities and Exchange Commission (the "COMMISSION") and any
 reports on Forms 10-Q and/or 8-K, or any successor forms, and any
 amendments thereto, filed by the Borrower with the Commission after the
 date of such report on Form 10-K.

     "DEBT" of any Person means at any date, without duplication, the
 sum of the following calculated in accordance with GAAP: (a) all
 obligations of such Person for borrowed money, (b) all obligations of
 such Person
<PAGE>
 evidenced by bonds, debentures, notes or similar instruments, or upon
 which interest payments are customarily made, (c) all obligations of
 such Person under conditional sale or other title retention agreements
 relating to property purchased by such Person (other than customary
 reservations or retentions of title under agreements with suppliers
 entered into in the ordinary course of business), (d) all obligations
 of such Person issued or assumed as the deferred purchase price of
 Property or services purchased by such Person (other than trade debt
 incurred in the ordinary course of business and due within six months
 of the incurrence thereof) which would appear as liabilities on a
 balance sheet of such Person, (e) all Debt of others secured by (or for
 which the holder of such Debt has an existing right, contingent or
 otherwise, to be secured by) any Lien on, or payable out of the
 proceeds of production from, property owned or acquired by such Person,
 whether or not the obligations secured thereby have been assumed,
 PROVIDED that for purposes hereof the amount of such Debt shall be
 limited to the greater of (i) the amount of such Debt as to which there
 is recourse to such Person and (ii) the fair market value of the
 property which is subject to the Lien, (f) all Support Obligations of
 such Person, (g) the principal portion
                                   6
 of all obligations of such Person under Capital Leases, (h) all
 obligations of such Person in respect of Hedging Agreements, (i) the
 maximum amount of all standby letters of credit issued or bankers'
 acceptances facilities created for the account of such Person and,
 without duplication, all drafts drawn thereunder (to the extent
 unreimbursed), (j) all preferred stock issued by such Person and
 required by the terms thereof to be redeemed, or for which mandatory
 sinking fund payments are due, by a fixed date, (k) the outstanding
 attributed principal amount under any asset securitization program of
 such Person and (l) the principal balance outstanding under any
 synthetic lease, tax retention operating lease, off-balance sheet loan
 or similar off-balance sheet financing product to which such Person is
 a party, where such transaction is considered borrowed money
 indebtedness for tax purposes but is classified as an operating lease
 in accordance with GAAP.  The Debt of any Person shall include the Debt
 of any partnership or joint venture in which such Person is a general
 partner or a joint venturer, but only to the extent to which there is
 recourse to such Person for payment of such Debt.

     "DEFAULT" means any of the events specified in Section 11.1 which
 with the passage of time, the giving of notice or any other condition,
 would constitute an Event of Default.

     "DEFAULTING LENDER" shall mean any Lender with respect to which a
 Lender Default is in effect.

     "DOLLARS" OR "$" means, unless otherwise qualified, dollars in
 lawful currency of the United States.

     "ELIGIBLE ASSIGNEE" means (a) a Lender; (b) an Affiliate of a
 Lender or any fund that invests in bank loans and is managed by an
 investment advisor to a Lender; and (c) any other Person approved by
 the Administrative Agent and, unless an Event of Default has occurred
 and is continuing at the time any assignment is effected in accordance
 with Section 13.9, the Borrower (such approval not to be unreasonably
 withheld or delayed by the Borrower and such approval to be deemed
 given by the
<PAGE>
 Borrower if no objection is received by the assigning Lender and the
 Administrative Agent from the Borrower within two (2) Business Days
 after notice of such proposed assignment has been provided by the
 assigning Lender to the Borrower); PROVIDED, HOWEVER, that neither the
 Borrower nor an Affiliate of the Borrower shall qualify as an Eligible
 Assignee.

     "EMPLOYEE BENEFIT PLAN" means any employee benefit plan within the
 meaning of Section 3(3) of ERISA which (a) is maintained for employees
 of the Borrower or any ERISA Affiliate or (b) has at any time within
 the preceding six years been maintained for the employees of the
 Borrower or any current or former ERISA Affiliate.

     "ENVIRONMENTAL LAWS" means any and all federal, state, local and
 foreign laws, statutes, ordinances, rules, regulations, permits,
 licenses, approvals, binding interpretations and orders of courts or
 Governmental Authorities, relating to the protection of human health or
 the environment, including, but not limited to, requirements pertaining
 to the manufacture, processing, distribution, use, treatment, storage,
 disposal, transportation, handling, reporting, licensing, permitting,
 investigation or remediation of Hazardous Materials.
                                   7
     "ENVIRONMENTAL PERMITS" shall have the meaning assigned thereto in
 Section 6.1(h).

     "ERISA" means the Employee Retirement Income Security Act of 1974,
 and the rules and regulations thereunder, each as amended, supplemented
 or otherwise modified from time to time.

     "ERISA AFFILIATE" means any Person who together with the Borrower
 is treated as a single employer within the meaning of Section 414(b),
 (c), (m) or (o) of the Code or Section 4001(b) of ERISA.

     "EURODOLLAR RESERVE PERCENTAGE" means, for any day, the percentage
 (expressed as a decimal and rounded upwards, if necessary, to the next
 higher 1/100th of 1%) which is in effect for such day as prescribed by
 the Federal Reserve Board (or any successor) for determining the
 maximum reserve requirement (including without limitation any basic,
 supplemental or emergency reserves) in respect of eurocurrency
 liabilities or any similar category of liabilities for a member bank of
 the Federal Reserve System in New York City and to which the
 Administrative Agent or any Lender is then subject.

     "EVENT OF DEFAULT" means any of the events specified in Section
 11.1, provided that any requirement for passage of time, giving of
 notice, or any other condition, has been satisfied.

     "EXISTING CREDIT AGREEMENT" has the meaning set forth in the
 Statement of Purpose hereof.

     "EXTENSIONS OF CREDIT" means, as to any Lender at any time, an
 amount equal to the sum of (a) the aggregate principal amount of all
 Revolving Credit Loans made by such Lender then outstanding, (b) such
 Lender's Five Year Facility Commitment Percentage of the L/C
 Obligations then outstanding, (c) the aggregate principal amount of all
 Competitive Bid Loans made by such Lender then outstanding and (d) the
 aggregate principal amount of all Swingline Loans made by such Lender
<PAGE>
 then outstanding.  "EXTENSION OF CREDIT" means, as to any Lender (a)
 any component of such Lender's Extensions of Credit or (b) the making
 of, or participation in, a Loan by such Lender or the issuance or
 extension of, or participation in, a Letter of Credit by such Lender,
 as the context may require.

     "FDIC" means the Federal Deposit Insurance Corporation, or any
 successor thereto.

     "FEDERAL FUNDS RATE" means, the rate per annum (rounded upwards, if
 necessary, to the next higher 1/100th of 1%) representing the daily
 effective federal funds rate as quoted by the Administrative Agent and
 confirmed in Federal Reserve Board Statistical Release H.15 (519) or
 any successor or substitute publication selected by the Administrative
 Agent.  If, for any reason, such rate is not available, then "Federal
 Funds Rate" shall mean a daily rate which is determined, in the opinion
 of the Administrative Agent, to be the rate at which federal funds are
 being offered for sale in the national federal funds market at 9:00a.m.
 (Charlotte time).  Rates for weekends or holidays shall be the same as
 the rate for the most immediate preceding Business Day.

     "FISCAL YEAR" means the fiscal year of the Borrower and its
 Subsidiaries ending on or about December 31.
                                   8
     "FIVE YEAR FACILITY" means the multi-year revolving credit facility
 established pursuant to Section 2.1 hereof.

     "FIVE YEAR FACILITY COMMITMENT" means (a) as to any Lender, the
 obligation of such Lender to make Revolving Credit Loans under the Five
 Year Facility for the accounts of the Borrower in an aggregate
 principal amount at any time outstanding not to exceed the amount set
 forth opposite such Lender's name on SCHEDULE 1.1(A) hereto as such
 amount may be reduced or modified at any time or from time to time
 pursuant to the terms hereof and (b) as to all Lenders, the aggregate
 Five Year Facility Commitment of all Lenders to make Revolving Credit
 Loans under the Five Year Facility, as such amount may be reduced or
 modified at any time or from time to time pursuant to the terms hereof.
 The Five Year Facility Commitment of all Lenders on the Closing Date
 shall be One Hundred and Fifty Million Dollars ($150,000,000).

     "FIVE YEAR FACILITY COMMITMENT PERCENTAGE" means, as to any Lender
 at any time, the ratio of (a) the amount of the Five Year Facility
 Commitment of such Lender to (b) the aggregate Five Year Facility
 Commitment of all of the Lenders.

     "FIVE YEAR FACILITY FEE" shall have the meaning assigned thereto in
 Section 4.3(b).

     "FIVE YEAR FACILITY SPECIFIED MATURITY DATE" means December 10,
 2004.

     "FIVE YEAR FACILITY TERMINATION DATE" means the earliest of the
 dates referred to in Section 2.8(b).

     "FOREIGN LENDER" means any Lender that is organized under the laws
 of a jurisdiction other than that in which the Borrower is located. For
 purposes of this definition, the United States of America, each state
<PAGE>
 thereof and the District of Columbia shall be deemed to constitute a
 single jurisdiction.

     "FOREIGN PENSION PLAN" shall mean any plan, fund (including,
 without limitation, any superannuation fund) or other similar program
 established or maintained outside the United States of America by the
 Borrower or any one or more of its Subsidiaries primarily for the
 benefit of employees of the Borrower or such Subsidiaries residing
 outside the United States of America, which plan, fund or other similar
 program provides, or results in, retirement income, a deferral of
 income in contemplation of retirement or payments to be made upon
 termination of employment, and which plan is not subject to ERISA or
 the Code.

     "FOREIGN SUBSIDIARY" means each Subsidiary of the Borrower that is
 not incorporated under the laws of the United States or any State or
 territory thereof.
     "FUNDED DEBT" of any Person means at any date, without duplication,
 the sum of the following calculated in accordance with GAAP: (a) all
 obligations of such Person for borrowed money, (b) all obligations of
 such Person issued or assumed as the deferred purchase price of Property
 or services purchased by such Person (other than trade debt incurred in
 the ordinary course of business and due within six months of the
 incurrence thereof) which would appear as liabilities on a balance sheet
                                   9
 of such Person, (c) all Funded Debt of others secured by (or for which
 the holder of such Funded Debt has an existing right, contingent or
 otherwise, to be secured by) any Lien on, or payable out of the
 proceeds of production from, property owned or acquired by such
 Person, whether or not the obligations secured thereby have been
 assumed, PROVIDED that for purposes hereof the amount of such Funded
 Debt shall be calculated at the greater of (i) the amount of such
 Funded Debt as to which there is recourse to such Person and (ii)
 the fair market value of the property which is subject to the Lien, (d)
 all Support Obligations of such Person with respect to Funded Debt of
 others, (e) the principal portion of all obligations of such Person
 under Capital Leases and (f) the maximum amount of all standby letters
 of credit issued or bankers' acceptances facilities created for the
 account of such Person and, without duplication, all drafts drawn
 thereunder (to the extent unreimbursed).  The Funded Debt of any Person
 shall include the Funded Debt of any partnership or joint venture in
 which such Person is a general partner or a joint venturer, but only
 to the extent to which there is recourse to such Person for payment of
 such Funded Debt.

     "FUNDED DEBT/CAPITALIZATION RATIO" means, as of the last day of any
 fiscal quarter, the ratio of (a) Consolidated Funded Debt on such day
 to (b) Consolidated Capitalization on such day, expressed as a
 percentage.

     "GAAP" means generally accepted accounting principles, as
 recognized by the American Institute of Certified Public Accountants
 and the Financial Accounting Standards Board, consistently applied and
 maintained on a consistent basis throughout the period indicated.

     "GOVERNMENTAL APPROVALS" means all authorizations, consents,
 approvals, licenses and exemptions of, registrations and filings with,
 and reports to, all Governmental Authorities.
<PAGE>
     "GOVERNMENTAL AUTHORITY" means any nation, province, state or
 political subdivision thereof, and any government or any Person
 exercising executive, legislative, regulatory or administrative
 functions of or pertaining to government, and any corporation or other
 entity owned or controlled, through stock or capital ownership or
 otherwise, by any of the foregoing.

     "GUARANTEED OBLIGATIONS" means, without duplication, all of the
 obligations of the Borrower to the Lenders and the Administrative
 Agent, whenever arising, under this Agreement, the Notes or any other
 Loan Document (including, but not limited to, obligations with respect
 to principal, interest and fees).

     "GUARANTOR" means each Subsidiary of the Borrower identified as a
 "Guarantor" on the signature pages hereto and each Subsidiary that
 becomes a Guarantor hereunder after the Closing Date by execution of a
 Guarantor Joinder Agreement.

     "GUARANTOR JOINDER AGREEMENT" means a Guarantor Joinder Agreement
 executed by an applicant and the Administrative Agent in substantially
 the form of EXHIBIT E, as amended, restated, supplemented or otherwise
 modified.

     "HAZARDOUS MATERIALS" means any substances or materials (a) which
 are or become regulated or defined as hazardous wastes, hazardous
 substances, pollutants, contaminants, chemical substances or mixtures
 or toxic substances under any Environmental Law, (b) which are toxic,
 explosive,
                                   10
 corrosive, flammable, infectious, radioactive, carcinogenic, mutagenic
 or otherwise harmful to human health or the environment and are or
 become regulated by any Governmental Authority, (c) the presence of
 which require investigation or remediation under any Environmental Law,
 (d) the discharge or emission or release of which requires a permit or
 license under any Applicable Law or other Governmental Approval, or (e)
 which contain, without limitation, asbestos, polychlorinated biphenyls,
 urea formaldehyde foam insulation, petroleum hydrocarbons, petroleum
 derived substances or waste, crude oil, nuclear fuel, natural gas or
 synthetic gas.

     "HEDGING AGREEMENT" means any agreement with respect to an interest
 rate swap, collar, cap, floor or forward rate agreement, foreign
 currency agreement or other agreement regarding the hedging of interest
 rate risk exposure executed in connection with hedging the interest
 rate exposure of any Person, and any confirming letter executed
 pursuant to such hedging agreement, all as amended, restated or
 otherwise modified from time to time.

     "INTEREST COVERAGE RATIO" means, as of the last day of any fiscal
 quarter, the ratio of (a) Consolidated EBIT to (b) Consolidated
 Interest Expense, in each case for the period of four (4) consecutive
 fiscal quarters ending as of such day.

     "INTEREST PERIOD" shall have the meaning assigned thereto in
 Section 4.1(b).

     "ISSUING LENDER" means Bank of America in its capacity as issuer of
<PAGE>
 any Letter of Credit, and any other Lender mutually acceptable and on
 terms satisfactory to the Borrower and the Administrative Agent.

     "L/C APPLICATION" means an application, in the form specified by
 any Issuing Lender from time to time, requesting such Issuing Lender to
 issue a Letter of Credit.

     "L/C COMMITMENT" means Fifty Million Dollars ($50,000,000).

     "L/C FACILITY" means the letter of credit facility established
 pursuant to Article III hereof.

     "L/C FEE" shall have the meaning assigned thereto in Section
 3.3(a).
     "L/C OBLIGATIONS" means at any time, an amount equal to the sum of
 (a) the aggregate undrawn and unexpired amount of the then outstanding
 Letters of Credit and (b) the aggregate amount of drawings under
 Letters of Credit which have not then been reimbursed pursuant to
 Section 3.5.

     "L/C PARTICIPANTS" means the collective reference to all the
 Lenders having a Five Year Facility Commitment other than the
 applicable Issuing Lender.

     "LENDER" means each Person executing this Agreement as a Lender as
 set forth on the signature pages hereto and each Person that hereafter
 becomes a party to this Agreement as a Lender pursuant to Section
 13.9(b), other than any party hereto that ceases to be a party hereto
 pursuant to any Assignment and Acceptance.
                                   11
     "LENDER DEFAULT" means (a) the refusal (which has not been
 retracted) or the failure of a Lender to make available its portion of
 any Mandatory Borrowing or (b) a Lender having notified in writing the
 Borrower and/or the Administrative Agent that such Lender does not
 intend to comply with its obligations under Section 2.6(b), in the case
 of either clause (a) or (b) as a result of any takeover or control of
 such Lender by any Governmental Authority.

     "LENDING OFFICE" means, with respect to any Lender, the office of
 such Lender maintaining such Lender's Aggregate Revolving Credit
 Commitment Percentage of the Revolving Credit Loans.

     "LETTERS OF CREDIT" shall have the meaning assigned thereto in
 Section 3.1.

     "LIBOR" means, for any Offshore Rate Loan for any Interest Period
 therefor, the rate per annum (rounded upwards, if necessary, to the
 nearest 1/100th of 1%) appearing on Telerate Page 3750 (or any
 successor or equivalent page) as the London interbank offered rate for
 deposits in Dollars and in the approximate amount of the Loan to be
 made or continued as, or converted into, such Offshore Rate Loan at
 approximately 11:00 a.m. (London time) two (2) Business Days prior to
 the first day of such Interest Period for a term comparable to such
 Interest Period; PROVIDED, HOWEVER, if more than one rate is specified
 on Telerate Page 3750 the relevant rate shall be the arithmetic mean of
 all such rates.  If for any reason such rate is not available, the term
 "LIBOR" shall mean, for any Offshore Rate Loan for any Interest Period
 therefor,
<PAGE>
          (a)  the rate per annum (rounded upwards, if necessary, to the
     nearest 1/100th of 1%) appearing on Reuters Screen LIBO Page as the
     London interbank offered rate for deposits in Dollars and in the
     approximate amount of the Loan to be made or continued as, or
     converted into, such Offshore Rate Loan at approximately 11:00 a.m.
     (London time) two Business Days prior to the first day of such
     Interest Period for a term comparable to such Interest Period;
     PROVIDED, HOWEVER, if more than one rate is specified on Reuters
     Screen LIBO Page, the relevant rate shall be the arithmetic mean of
     all such rates, or

          (b)  if no rate is available on the Reuters Screen LIBO page,
     then the rate determined by the Administrative Agent at which
     Dollars in the approximate amount of the Loan to be made or
     continued as, or converted into, such Offshore Rate Loan are
     offered by leading banks in the London interbank market at
     approximately 11:00 a.m. (London time) two Business Days prior to
     the first day of the applicable Interest Period (rounded upwards,
     if necessary, to the nearest 1/100th of 1%).

     "LIEN" means, with respect to any asset, any mortgage, lien,
 pledge, charge, security interest or encumbrance of any kind in respect
 of such asset.  For the purposes of this Agreement, a Person shall be
 deemed to own subject to a Lien any asset which it has acquired or
 holds subject to the interest of a vendor or lessor under any
 conditional sale agreement, Capital Lease or other title retention
 agreement relating to such asset.
                                   12
     "LOAN DOCUMENTS" means, collectively, this Agreement, the Notes,
 the L/C Applications, any Guarantor Joinder Agreement and each other
 document, instrument and agreement executed and delivered by any Credit
 Party or its Subsidiaries in connection with this Agreement or
 otherwise referred to herein or contemplated hereby, all as may be
 amended, restated or otherwise modified.

     "LOANS" means the collective reference to the Revolving Credit
 Loans, the Competitive Bid Loans and the Swingline Loans; "LOAN" means
 any one of such Loans.

     "MANDATORY BORROWING" shall have the meaning assigned thereto in
 Section 2.6(b).
     "MATERIAL ADVERSE EFFECT" means any of (a) a material adverse
 effect on the business, assets, liabilities (actual or contingent),
 operations, condition (financial or otherwise) or prospects of the
 Credit Parties and their Subsidiaries taken as a whole, (b) a material
 adverse effect on the ability of any such Credit Party to perform its
 obligations under the Loan Documents, in each case to which it is a
 party, or (c) a material adverse effect on the rights or remedies of
 the Lenders or the Administrative Agent hereunder or under any other
 Loan Document.

     "MATERIAL SUBSIDIARY" means, as of any date of determination, any
 Subsidiary of the Borrower (a) the assets or liabilities of which
 exceed five percent (5%) of Consolidated Total Assets measured as of
 the end of the most recently ended fiscal quarter with respect to which
 the Administrative Agent has received the annual or quarterly
 compliance certificate and related financial statements and information
 required by
<PAGE>
 Sections 7.1(a) and (b) and Section 7.2, as appropriate, (b) which
 represents more than five percent (5%) of the consolidated revenue of
 the Borrower and its Consolidated Subsidiaries measured (i) as of the
 end of the most recently ended fiscal quarter with respect to which the
 Administrative Agent has received the annual or quarterly compliance
 certificate and related financial statements and information required
 by Sections 7.1(a) and (b) and Section 7.2, as appropriate, and (ii)
 for the four (4) consecutive fiscal quarter period then ended or (c)
 which is otherwise material to the business, assets, liabilities
 (actual or contingent), operations, condition (financial or otherwise)
 or prospects of the Borrower and its Subsidiaries taken as a whole.  It
 is understood that the term "Material Subsidiary" shall include,
 without limitation, a Subsidiary of the Borrower whose principal assets
 are one or more Material Subsidiaries.

     "MULTIEMPLOYER PLAN" means a "multiemployer plan" as defined in
 Section 4001(a)(3) of ERISA to which the Borrower or any ERISA
 Affiliate is making, has made, is accruing or has accrued an obligation
 to make, contributions within the preceding six years.

     "NOTES" means the collective reference to the Revolving Credit
 Notes; "NOTE" means any one of such Notes.

     "NOTICE OF ACCOUNT DESIGNATION" shall have the meaning assigned
 thereto in Section 2.2(b).
                                   13
     "NOTICE OF CONVERSION/CONTINUATION" shall have the meaning assigned
 thereto in Section 4.2.

     "NOTICE OF PREPAYMENT" shall have the meaning assigned thereto in
 Section 2.3(c).

     "NOTICE OF REVOLVING CREDIT BORROWING" shall have the meaning
 assigned thereto in Section 2.2(a).

     "NOTICE OF SWINGLINE BORROWING" shall have the meaning assigned
 thereto in Section 2.6(d).

     "OBLIGATIONS" means, in each case, whether now in existence or
 hereafter arising:  (a) the principal of and interest on (including
 interest accruing after the filing of any bankruptcy or similar
 petition) the Loans, (b) all payment and other obligations owing by the
 Credit Parties to any Lender or Affiliate of a Lender or the
 Administrative Agent under any Hedging Agreement with any Lender or
 Affiliate of a Lender (which such Hedging Agreement is permitted
 hereunder), and (c) all other fees and commissions (including
 attorney's fees), charges, indebtedness, loans, liabilities, financial
 accommodations, obligations, covenants and duties owing by the Credit
 Parties to the Lenders or the Administrative Agent, of every kind,
 nature and description, direct or indirect, absolute or contingent, due
 or to become due, contractual or tortious, liquidated or unliquidated,
 and whether or not evidenced by any note, in each case under or in
 respect of this Agreement, any Note, or any of the other Loan
 Documents.

     "OFFICER'S COMPLIANCE CERTIFICATE" shall have the meaning assigned
 thereto in Section 7.2.
<PAGE>
     "OFFSHORE RATE" means, for any Interest Period, with respect to an
 Offshore Rate Loan, the rate of interest per annum (rounded upward to
 the next 1/100{th} of 1%) determined by the Administrative Agent as
 follows:

     Offshore Rate =             LIBOR
                  1.00- Eurodollar Reserve Percentage

 The Offshore Rate shall be adjusted automatically as to all Offshore
 Rate Loans then outstanding as of the effective date of any change in
 the Eurodollar Reserve Percentage.

     "OFFSHORE RATE LOAN" means a Revolving Credit Loan or a Swingline
 Loan bearing interest at a rate based upon the Offshore Rate as
 provided in Section 4.1(a).

     "OPERATING LEASE" shall mean, as to any Person, as determined in
 accordance with GAAP, any lease of property (whether real, personal or
 mixed) by such Person as lessee which is not a Capital Lease.

     "OTHER TAXES" shall have the meaning assigned thereto in Section
 4.11(b).
                                   14
     "PBGC" means the Pension Benefit Guaranty Corporation referred to
 and defined in ERISA or any successor agency.

     "PENSION PLAN" means any Employee Benefit Plan, other than a
 Multiemployer Plan, which is subject to the provisions of Title IV of
 ERISA or Section 412 of the Code and is maintained for the employees of
 the Borrower or any of its ERISA Affiliates.

     "PERSON" means an individual, corporation, limited liability
 company, partnership, association, trust, business trust, joint
 venture, joint stock company, pool, syndicate, sole proprietorship,
 unincorporated organization, Governmental Authority or any other form
 of entity or group thereof.

     "PRIME RATE" means, at any time, the rate of interest per annum
 established from time to time by Bank of America as its prime rate in
 effect at its principal office in Charlotte, North Carolina.  Each
 change in the Prime Rate shall be effective as of the opening of
 business on the day such change in the Prime Rate occurs.  The parties
 hereto acknowledge that the rate established by Bank of America as its
 Prime Rate is an index or base rate and shall not necessarily be its
 lowest or best rate charged to its customers or other banks.

     "PRIOR BANK COMMITMENT" means the Borrower's committed credit
 facility evidenced by the Existing Credit Agreement.

     "REAL PROPERTY" of any Person shall mean all the right, title and
 interest of such Person in and to land, improvements and fixtures,
 including leaseholds.

     "REIMBURSEMENT OBLIGATION" means the obligation of the Borrower to
 reimburse each Issuing Lender pursuant to Section 3.5 for amounts drawn
 under Letters of Credit issued at the request of the Borrower.
<PAGE>
     "REGISTER" shall have the meaning assigned thereto in Section
 13.9(d).

     "REPORTABLE EVENT" shall mean an event described in Section 4043(c)
 of ERISA with respect to a Pension Plan that is subject to Title IV of
 ERISA other than those events as to which the 30-day notice period is
 waived under subsection .22, .23, .27 or .28 of PBGC Regulation Section
 4043.

     "REQUIRED LENDERS" means, at any date, any combination of Lenders
 whose Aggregate Revolving Credit Commitment Percentage equals more than
 fifty percent (50%) of the Aggregate Revolving Credit Commitment or, if
 the Aggregate Revolving Credit Commitment has been terminated, any
 combination of Lenders who collectively hold more than fifty percent
 (50%) of the aggregate unpaid principal amount of the Extensions of
 Credit (excluding the aggregate unpaid principal amount of Competitive
 Bid Loans); PROVIDED that, for purposes of declaring the Loans to be
 due and payable pursuant to Article XI, and for all purposes after the
 Loans become due and payable pursuant to Article XI, the outstanding
 Competitive Bid Loans of the Lenders shall be included in the Lenders'
 respective Aggregate Revolving Credit Commitment Percentages in
 determining the Required Lenders.
                                   15
     "RESPONSIBLE OFFICER" means any of the following: the chairman,
 president, chief executive officer, chief financial officer or
 treasurer of the Borrower or any other officer of the Borrower
 reasonably acceptable to the Administrative Agent.

     "REVOLVING CREDIT LOANS" means any revolving loan made to the
 Borrower pursuant to Section 2.2 under the 364 Day Facility or the Five
 Year Facility, and all such revolving loans collectively as the context
 requires.

     "REVOLVING CREDIT NOTES" means the collective reference to the
 Revolving Credit Notes made by the Borrower payable to the order of
 each Lender with a Five Year Facility Commitment or a 364 Day Facility
 Commitment, substantially in the form of EXHIBIT A hereto, and any
 amendments and modifications thereto, any substitutes therefor, and any
 replacements, restatements, renewals or extensions thereof, in whole or
 in part; "REVOLVING CREDIT NOTE" means any of such Revolving Credit
 Notes.

     "SEC REPORTS" shall have the meaning assigned thereto in Section
 6.1(x).

     "SUBSIDIARY" means, with respect to any Person (the "PARENT") at
 any date, any corporation, limited liability company, partnership,
 association or other entity the accounts of which would be Consolidated
 with those of the parent in the parent's Consolidated financial
 statements if such financial statements were prepared in accordance
 with GAAP as of such date, as well as any other corporation, limited
 liability company, partnership, association or other entity (a) of
 which securities or other ownership interests representing more than
 fifty percent (50%) of the equity or more than fifty percent (50%) of
 the ordinary voting power or, in the case of a partnership, more than
 fifty percent (50%) of the general partnership interests are, as of
 such date, owned, controlled
<PAGE>
 or held, or (b) that is, as of such date, otherwise controlled, by the
 parent or one or more subsidiaries of the parent or by the parent and
 one or more subsidiaries of the parent.  Unless otherwise qualified,
 references to "Subsidiary" or "Subsidiaries" herein shall refer to
 those of the Borrower.

     "SUPPORT OBLIGATION" means, with respect to any Person and its
 Subsidiaries, without duplication, any obligation, contingent or
 otherwise, of any such Person pursuant to which such Person has
 directly or indirectly guaranteed any Debt or other obligation of any
 other Person and, without limiting the generality of the foregoing, any
 obligation, direct or indirect, contingent or otherwise, of any such
 Person (a) to purchase or pay (or advance or supply funds for the
 purchase or payment of) such Debt or other obligation (whether arising
 by virtue of partnership arrangements, by agreement to keep well, to
 purchase assets, goods, securities or services, to take-or-pay, or to
 maintain financial statement condition or otherwise) or (b) entered
 into for the purpose of assuring in any other manner the obligee of
 such Debt or other obligation of the payment thereof or to protect such
 obligee against loss in respect thereof (in whole or in part); PROVIDED
 that the term Support Obligation shall not include (i) endorsements for
 collection or deposit in the ordinary course of business or (ii) a
 contractual commitment by one Person to invest in another Person for so
 long as such investment is expected to constitute a permitted
 investment under Section 9.8.
                                   16
     "SWINGLINE COMMITMENT" means the obligation of the Swingline Lender
 to make Swingline Loans under the Five Year Facility for the account of
 the Borrower in an aggregate principal amount at any time outstanding
 not to exceed Ten Million Dollars ($10,000,000).

     "SWINGLINE LENDER" means Bank of America in its capacity as issuer
 of any Swingline Loan.

     "SWINGLINE LOANS" means any revolving loan made pursuant to Section
 2.6 and all such loans collectively as the context requires.

     "SWINGLINE TERMINATION DATE" means the earlier to occur of (a) the
 resignation of Bank of America as Swingline Lender and (b) the Five
 Year Facility Termination Date.

     "TAXES" shall have the meaning assigned thereto in Section 4.11(a).

     "TERMINATION DATE" means the 364 Day Facility Termination Date or
 the Five Year Facility Termination Date, as the context requires.

     "TERMINATION EVENT" means any of the following that result in a
 Material Adverse Effect:  (a) a "Reportable Event" described in Section
 4043 of ERISA, or (b) the withdrawal of the Borrower or any ERISA
 Affiliate from a Pension Plan during a plan year in which it was a
 "substantial employer" as defined in Section 4001(a)(2) of ERISA, or
 (c) the termination of a Pension Plan, the filing of a notice of intent
 to terminate a Pension Plan or the treatment of a Pension Plan
 amendment as a termination under Section 4041 of ERISA, or (d) the
 institution of proceedings to terminate, or to seek the appointment of
 a trustee with respect to, any Pension Plan by the PBGC, or (e) any
 other event or condition which would constitute grounds under Section
 4042(a) of ERISA
<PAGE>
 for the termination of, or the appointment of a trustee to administer
 any Pension Plan, or (f) the partial or complete withdrawal of the
 Borrower or any ERISA Affiliate from a Multiemployer Plan, or (g) the
 imposition of a Lien pursuant to Section 412 of the Code or Section 302
 of ERISA, or (h) any event or condition which results in the
 reorganization or insolvency of a Multiemployer Plan under Sections
 4241 or 4245 of ERISA, (i) any event or condition which results in the
 termination of a Multiemployer Plan under Section 4041A of ERISA or the
 institution by PBGC of proceedings to terminate a Multiemployer Plan
 under Section 4042 of ERISA or (j) the withdrawal or partial withdrawal
 of any Credit Party or ERISA Affiliate from a Multiemployer Plan.

     "UCC" means, with respect to any Letter of Credit, the Uniform
 Commercial Code as in effect in the State in which the corporate
 headquarters of the relevant Issuing Lender is located or such other
 jurisdiction as is acceptable to the relevant Issuing Lender, as
 amended, restated or otherwise modified from time to time.

     "UNFUNDED CURRENT LIABILITY" of any Pension Plan means the amount,
 if any, by which the actuarial present value of the accumulated plan
 benefits under the Pension Plan as of the close of its most recent
 year, determined in accordance with actuarial assumptions at such time
 consistent with Statement of Financial Accounting Standards No 87,
 exceeds the sum of (a) the market value of the assets allocable thereto
 and (b) $100,000.
                                   17
     "UNIFORM CUSTOMS" means the Uniform Customs and Practice for
 Documentary Credits (1993 Revision), International Chamber of Commerce
 Publication No. 500.

     "UNITED STATES" means the United States of America.

     "UTILIZATION" means, for any day, (a) the aggregate principal
 amount of all outstanding Loans divided by (b) the Aggregate Revolving
 Credit Commitment, expressed as a percentage.

     "UTILIZATION FEE" means, for any day, a per annum rate equal to the
 Applicable Percentage for the Utilization percentage outstanding on
 such day.

     "WHOLLY-OWNED" means, with respect to a Subsidiary, that all of the
 shares of capital stock or other ownership interests of such Subsidiary
 are, directly or indirectly, owned or controlled by any Credit Party
 and/or one or more of its Wholly-Owned Subsidiaries.

     "YEAR 2000 PROBLEM" shall have the meaning assigned thereto in
 Section 5.2(h)(ii).

     SECTION 1.2    GENERAL.

     Unless otherwise specified, a reference in this Agreement to a
 particular section, subsection, Schedule or Exhibit is a reference to
 that section, subsection, Schedule or Exhibit of this Agreement.
 Wherever from the context it appears appropriate, each term stated in
 either the singular or plural shall include the singular and plural,
 and pronouns stated in the masculine, feminine or neuter gender shall
 include
<PAGE>
 the masculine, feminine and neuter.  Any reference herein to "Charlotte
 time" or "London time" shall refer to the applicable time of day in
 Charlotte, North Carolina or London, England, as applicable.

     SECTION 1.3    OTHER DEFINITIONS AND PROVISIONS.

     (a)  USE OF CAPITALIZED TERMS.  Unless otherwise defined therein,
 all capitalized terms defined in this Agreement shall have the defined
 meanings provided herein when used in this Agreement, the Notes and the
 other Loan Documents or any certificate, report or other document made
 or delivered pursuant to this Agreement.

     (b)  MISCELLANEOUS.  The words "hereof," "herein" and "hereunder"
 and words of similar import when used in this Agreement shall refer to
 this Agreement as a whole and not to any particular provision of this
 Agreement.
                                   18
                           ARTICLE II

                       CREDIT FACILITIES

     SECTION 2.1    AMOUNT AND TERMS OF CREDIT.

     (a)  DESCRIPTION OF FACILITIES.  Upon the terms and subject to the
 conditions set forth in this Agreement: (i) the Lenders hereby grant to
 the Borrower a short term revolving credit facility (the "364 DAY
 FACILITY") and a multi-year revolving credit facility (the "FIVE YEAR
 FACILITY") pursuant to which each Lender severally agrees to make
 Revolving Credit Loans to the Borrower in Dollars in accordance with
 Section 2.2 and the Swingline Lender agrees to make Swingline Loans to
 the Borrower in Dollars in accordance with Section 2.6 and (ii) the
 parties hereto agree that each Lender may, in its sole discretion, make
 bids to make Competitive Bid Loans to the Borrower in Dollars in
 accordance with Section 2.5; PROVIDED that (A) the aggregate principal
 amount of all outstanding Revolving Credit Loans (after giving effect
 to any amount requested) made under the 364 Day Facility shall not
 exceed the 364 Day Facility Commitment LESS the aggregate principal
 amount of all outstanding Competitive Bid Loans made under the 364 Day
 Facility; and the aggregate principal amount of outstanding Revolving
 Credit Loans made under the 364 Day Facility by any Lender shall not at
 any time exceed such Lender's 364 Day Facility Commitment; and (B) the
 aggregate principal amount of all outstanding Revolving Credit Loans
 (after giving effect to any amount requested) made under the Five Year
 Facility PLUS the aggregate principal amount of all outstanding
 Swingline Loans made under the Five Year Facility (after giving effect
 to the amount of any Swingline Loans requested under the Five Year
 Facility and exclusive of Swingline Loans made under the Five Year
 Facility which are repaid with the proceeds of, and simultaneously with
 the incurrence of, Revolving Credit Loans under the Five Year Facility)
 shall not exceed the Five Year Facility Commitment LESS the sum of (x)
 all outstanding L/C Obligations PLUS (y) the aggregate principal amount
 of all outstanding Competitive Bid Loans made under the Five Year
 Facility; and the aggregate principal amount of outstanding Revolving
 Credit Loans made under the Five Year Facility by any Lender shall not
 at any time exceed such Lender's Five Year Facility Commitment.  Each
 Revolving Credit Loan made by a Lender under the 364 Day Facility or
 the Five Year Facility shall be in a
<PAGE>
 principal amount equal to such Lender's Commitment Percentage of the
 aggregate principal amount of Revolving Credit Loans requested under
 such facility on such occasion.

     (b)  APPLICATION OF FACILITIES.  The Credit Facility established
 hereby shall be used by the Borrower and its Subsidiaries to:

          (i)  refinance existing Debt of the Borrower and its
     Subsidiaries, including without limitation, Debt outstanding under
     the Prior Bank Commitments;

          (ii)  finance share repurchases and permitted acquisitions by
     the Borrower;

          (iii)  provide liquidity support for commercial paper
     issuances; and

          (iv)  finance the working capital, capital expenditures and
     general corporate purposes of the Borrower and its Subsidiaries;
                                   19
     and, accordingly, the Borrower shall apply all amounts raised by it
     hereunder in or towards satisfaction of such purposes and neither
     the Administrative Agent and the Lenders nor any of them shall be
     obliged to concern themselves with such application.

     SECTION 2.2    PROCEDURE FOR ADVANCES OF REVOLVING CREDIT LOANS.

     (a)  REQUESTS FOR REVOLVING CREDIT LOANS.  The Borrower shall give
 the Administrative Agent irrevocable prior written notice in the form
 attached hereto as EXHIBIT B-1 (a "NOTICE OF REVOLVING CREDIT
 BORROWING") not later than 11:00 a.m. (Charlotte time) (i) on the same
 Business Day as each Base Rate Loan and (ii) at least three (3)
 Business Days before each Offshore Rate Loan, of its intention to
 borrow, specifying (A) the date of such borrowing, which shall be a
 Business Day, (B) whether such Revolving Credit Loan is to be made
 under the 364 Day Facility or the Five Year Facility, (C) the amount of
 such borrowing, which shall be in an amount equal to the unused amount
 of the 364 Day Facility Commitment or the Five Year Facility
 Commitment, as applicable, or if less, (x) with respect to Base Rate
 Loans, in an aggregate principal amount of $1,000,000 or a whole
 multiple of $1,000,000 in excess thereof, and (y) with respect to
 Offshore Rate Loans, in an aggregate principal amount of $5,000,000 or
 a whole multiple of $1,000,000 in excess thereof, (D) whether such
 Revolving Credit Loan is to be an Offshore Rate Loan or Base Rate Loan
 and (E) in the case of an Offshore Rate Loan, the duration of the
 Interest Period applicable thereto.  Notices received after 11:00 a.m.
 (Charlotte time) shall be deemed received on the next Business Day.
 The Administrative Agent shall promptly notify the Lenders of each
 Notice of Revolving Credit Borrowing.

     (b)  DISBURSEMENT OF REVOLVING CREDIT LOANS.  Each Lender will make
 available to the Administrative Agent, for the accounts of the
 Borrower, at the Administrative Agent's Office in funds immediately
 available to the Administrative Agent, such Lender's Commitment
 Percentage of the Revolving Credit Loans to be made on such borrowing
 date no later than 2:00 p.m. (Charlotte time) on the proposed borrowing
 date.  The Borrower hereby irrevocably authorizes the Administrative
 Agent to disburse the
<PAGE>
 proceeds of each borrowing requested by the Borrower pursuant to this
 Section 2.2 in immediately available funds by crediting or wiring such
 proceeds to the deposit account of the Borrower identified in the most
 recent notice of account designation, substantially in the form of
 EXHIBIT C hereto (a "NOTICE OF ACCOUNT DESIGNATION"), delivered by the
 Borrower to the Administrative Agent or as may be otherwise agreed upon
 by the Borrower and the Administrative Agent from time to time.
 Subject to Section 4.7 hereof, the Administrative Agent shall not be
 obligated to disburse the portion of the proceeds of any Revolving
 Credit Loan requested pursuant to this Section 2.2 for which any Lender
 is responsible to the extent that such Lender has not made available to
 the Administrative Agent its Commitment Percentage of such Revolving
 Credit Loan.

     SECTION 2.3    REPAYMENT OF LOANS.

     (a)  REPAYMENT ON TERMINATION DATE.  The Borrower agrees to repay
 the outstanding principal amount of all Loans made to it under the 364
 Day Facility in full on the 364 Day Facility Termination Date, with all
 accrued but unpaid interest thereon.  The Borrower agrees to repay the
 outstanding principal amount of all Loans made to it under, and its
                                   20
 Reimbursement Obligation under, the Five Year Facility in full on the
 Five Year Facility Termination Date, with all accrued but unpaid
 interest thereon.

     (b)  MANDATORY REPAYMENT OF LOANS.  If at any time (A) the sum of
 the outstanding principal amount of all Loans made under the 364 Day
 Facility exceeds the 364 Day Facility Commitment of all Lenders or (B)
 the sum of the outstanding principal amount of all Loans made under the
 Five Year Facility and all outstanding L/C Obligations exceeds the Five
 Year Facility Commitment of all Lenders, the Borrower agrees to repay
 immediately upon notice from the Administrative Agent, by payment to
 the Administrative Agent for the account of the Lenders, Revolving
 Credit Loans, Swingline Loans, L/C Obligations or Competitive Bid Loans
 and/or furnish cash collateral reasonably satisfactory to the
 Administrative Agent, in an amount equal to such excess.  Such cash
 collateral shall be applied in accordance with Section 11.2(b).  Any
 repayment of such Offshore Rate Loans other than on the last day of the
 Interest Period applicable thereto shall be accompanied by any amount
 required to be paid pursuant to Section 4.9 hereof.

     (c)  OPTIONAL REPAYMENTS.  The Borrower may at any time and from
 time to time repay the Revolving Credit Loans or Swingline Loans made
 to it, in whole or in part, upon at least three (3) Business Days
 irrevocable notice to the Administrative Agent with respect to Offshore
 Rate Loans and one (1) Business Day irrevocable notice with respect to
 Base Rate Loans, in the form attached hereto as EXHIBIT D (a "NOTICE OF
 PREPAYMENT") specifying the date and amount of repayment; whether the
 repayment is of Revolving Credit Loans or Swingline Loans and whether
 such loans were made under the 364 Day Facility or the Five Year
 Facility, or a combination thereof, and, if a combination, the amount
 allocable to each; and whether the repayment is of Offshore Rate Loans,
 Base Rate Loans, or a combination thereof, and, if of a combination,
 the amount allocable to each.  Upon receipt of such notice, the
 Administrative Agent shall promptly notify each Lender.  If any such
<PAGE>
 notice is given, the amount specified in such notice shall be due and
 payable on the date set forth in such notice.  Partial repayments shall
 be in an aggregate amount of $1,000,000 or a whole multiple of
 $1,000,000 in excess thereof with respect to Base Rate Loans, $250,000
 or a whole multiple of $100,000 in excess thereof with respect to
 Swingline Loans and $5,000,000 or a whole multiple of $1,000,000 in
 excess thereof with respect to Offshore Rate Loans.

     (d)  LIMITATION ON REPAYMENT OF OFFSHORE RATE LOANS.  The Borrower
 may not repay any Offshore Rate Loan on any day other than on the last
 day of the Interest Period applicable thereto unless such repayment is
 accompanied by any amount required to be paid pursuant to Section 4.9
 hereof.

     (e)  LIMITATION ON REPAYMENT OF COMPETITIVE BID LOANS.   The
 Borrower may not repay any Competitive Bid Loan on any day other than
 on the last day of the Interest Period applicable thereto except, and
 on such terms, as agreed to by the Borrower and the Lender which made
 such Competitive Bid Loan.
                                   21
     SECTION 2.4    REVOLVING CREDIT NOTES.

     Each Lender's Revolving Credit Loans and the obligation of the
 Borrower to repay such Revolving Credit Loans shall be evidenced by
 separate Revolving Credit Notes executed by the Borrower payable to the
 order of such Lender.  Each Revolving Credit Note shall be dated the
 date hereof and shall bear interest on the unpaid principal amount
 thereof at the applicable interest rate per annum specified in Section
 4.1.

     SECTION 2.5    COMPETITIVE BID LOANS AND PROCEDURE.

     (a)  Subject to the terms and conditions set forth herein, from
 time to time until the expiration or termination of the Aggregate
 Revolving Credit Commitment, the Borrower may request Competitive Bids
 under the 364 Day Facility or the Five Year Facility, and may (but
 shall not have any obligation to) accept Competitive Bids and borrow
 Competitive Bid Loans, which shall be denominated in Dollars; PROVIDED
 that (i) the sum of the aggregate principal amount of outstanding
 Revolving Credit Loans made under the 364 Day Facility PLUS the
 aggregate principal amount of outstanding Competitive Bid Loans made
 thereunder at any time shall not exceed the 364 Day Facility Commitment
 and (ii) the sum of the aggregate principal  amount of outstanding
 Revolving Credit Loans and Swingline Loans made under the Five Year
 Facility PLUS the aggregate principal amount of outstanding Competitive
 Bid Loans made thereunder at any time shall not exceed the Five Year
 Facility Commitment LESS the sum of all outstanding L/C Obligations.
 To request Competitive Bids, the Borrower shall notify the
 Administrative Agent of such request by telephone, not later than 11:00
 a.m. (Charlotte time) one (1) Business Day before the date of the
 proposed borrowing; PROVIDED that a Competitive Bid Request shall not
 be made within five (5) Business Days after the date of any previous
 Competitive Bid Request.  Each such telephonic Competitive Bid Request
 shall be confirmed promptly by hand delivery or telecopy to the
 Administrative Agent of a written Competitive Bid Request in a form
 approved by the Administrative Agent and signed by the Borrower.  Each
 such telephonic and written Competitive Bid Request shall specify the
 following information:
<PAGE>
          (i)  the aggregate amount of the requested borrowing, which
     shall be a minimum of $5,000,000 and an integral multiple of
     $1,000,000 in excess thereof;

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

          (iii)  the Interest Period to be applicable to such borrowing,
     which shall be a period contemplated by the definition of the term
     "Interest Period";

          (iv)  whether the borrowing is to be made under the 364 Day
     Facility or the Five Year Facility); and

          (v)  the location and number of the Borrower's account to
     which funds are to be disbursed.
                                   22
     Promptly following receipt of a Competitive Bid Request in
 accordance with this Section, the Administrative Agent shall notify the
 Lenders of the details thereof by telecopy, inviting the Lenders to
 submit Competitive Bids.

     (b)  Each Lender may (but shall not have any obligation to) make
 one or more Competitive Bids to the Borrower in response to a
 Competitive Bid Request.  Such Competitive Bids by a Lender may be for
 an amount greater than (or less than) such Lender's respective
 Commitments.  Each Competitive Bid by a Lender must be in a form
 approved by the Administrative Agent and must be received by the
 Administrative Agent by telecopy, not later than 9:30 a.m. (Charlotte
 time) on the proposed date of such borrowing.  Competitive Bids that do
 not conform substantially to the form approved by the Administrative
 Agent may be rejected by the Administrative Agent, and the
 Administrative Agent shall notify the applicable Lender as promptly as
 practicable.  Each Competitive Bid shall specify (i) the principal
 amount (which shall be a minimum of $5,000,000 and an integral multiple
 of $1,000,000 in excess thereof and which may equal the entire
 principal amount of the borrowing requested by the Borrower) of the
 Competitive Bid Loan or Loans that the applicable Lender is willing to
 make, (ii) the Competitive Bid Rate or Rates at which such Lender is
 prepared to make such Loan or Loans (expressed as a percentage rate per
 annum in the form of a decimal to no more than four decimal places) and
 (iii) the Interest Period applicable to each such Loan and the last day
 thereof.

     (c)  The Administrative Agent shall promptly notify the Borrower by
 telecopy of the Competitive Bid Rate and the principal amount specified
 in each Competitive Bid and the identity of the Lender that shall have
 made such Competitive Bid.

     (d)  Subject only to the provisions of this paragraph, the Borrower
 may accept or reject any Competitive Bid.  The Borrower shall notify
 the Administrative Agent by telephone, confirmed by telecopy in a form
 approved by the Administrative Agent, whether and to what extent it has
 decided to accept or reject each Competitive Bid, not later than 10:30
 a.m. (Charlotte time) on the date of the proposed borrowing; PROVIDED
 that (i) the failure of the Borrower to give the notice shall be deemed
 to be a rejection of each Competitive Bid, (ii) the Borrower shall not
 accept a Competitive Bid made at a particular Competitive Bid Rate if
<PAGE>
 the Borrower rejects a Competitive Bid made at a lower Competitive Bid
 Rate, (iii) the aggregate amount of the Competitive Bids accepted by
 the Borrower shall not exceed the aggregate amount of the requested
 borrowing specified in the related Competitive Bid Request, (iv) to the
 extent necessary to comply with clause (iii) above, the Borrower may
 accept Competitive Bids at the same Competitive Bid Rate in part, which
 acceptance, in the case of multiple Competitive Bids at such
 Competitive Bid Rate, shall be made pro rata in accordance with the
 amount of each such Competitive Bid, and (v) except pursuant to clause
 (iv) above, no Competitive Bid shall be accepted for a Competitive Bid
 Loan unless such Competitive Bid Loan is in a minimum principal amount
 of $5,000,000 and an integral multiple of $l,000,000 in excess thereof;
 PROVIDED FURTHER that if a Competitive Bid Loan must be in an amount
 less than $5,000,000 because of the provisions of clause (iv) above,
 such Competitive Bid Loan may be for a minimum of $1,000,000 or any
 integral multiple thereof, and in calculating the pro rata allocation
 of acceptances of portions of multiple Competitive Bids at a particular
 Competitive Bid Rate pursuant to clause (iv) above the amounts shall be
 rounded to integral
                                   23
 multiples of $1,000,000 in a manner determined by the Borrower.  A
 notice given by the Borrower pursuant to this paragraph shall be
 irrevocable.

     (e)  The Administrative Agent shall promptly notify each bidding
 Lender by telecopy whether or not its Competitive Bid has been accepted
 (and, if so, the amount and Competitive Bid Rate so accepted), and each
 successful bidder will thereupon become bound, subject to the terms and
 conditions hereof, to make the Competitive Bid Loan in respect of which
 its Competitive Bid has been accepted.

     (f)  Not later than 2:00 p.m. (Charlotte time) on the proposed
 borrowing date, each Lender whose Competitive Bid has been accepted
 will make available to the Administrative Agent, for the account of the
 Borrower, at the office of the Administrative Agent in funds
 immediately available to the Administrative Agent, the amount of the
 Competitive Bid Loan to be made on such borrowing date by such Lender.
 The Borrower hereby irrevocably authorizes the Administrative Agent to
 disburse the proceeds of each borrowing requested pursuant to this
 Section 2.5 in immediately available funds by crediting or wiring such
 proceeds to the deposit account of the Borrower identified in its most
 recent Notice of Account Designation or as may be otherwise agreed upon
 by the Borrower and the Administrative Agent from time to time.
 Subject to Section 4.7 hereof, the Administrative Agent shall not be
 obligated to disburse the proceeds of any Competitive Bid Loan
 requested pursuant to this Section 2.5 for which any Lender is
 responsible to the extent that such Lender has not made available to
 the Administrative Agent the amount of such Competitive Bid Loan.

     (g)  If the entity which is the Administrative Agent shall elect to
 submit a Competitive Bid in its capacity as a Lender, it shall submit
 such Competitive Bid directly to the Borrower at least one quarter of
 an hour earlier than the time by which the other Lenders are required
 to submit their Competitive Bids to the Administrative Agent pursuant
 to paragraph (b) of this Section.

     (h)  While any Competitive Bid Loan made under the 364 Day Facility
 is outstanding, the 364 Day Facility Commitment of each Lender shall be
<PAGE>
 deemed used for all purposes by an amount equal to its pro rata share
 (based on its respective 364 Day Facility Commitment Percentage) of the
 principal amount of such Competitive Bid Loan.

     (i)  While any Competitive Bid Loan made under the Five Year
 Facility is outstanding, the Five Year Facility Commitment of each
 Lender shall be deemed used for all purposes by an amount equal to its
 pro rata share (based on its respective Five Year Facility Commitment
 Percentage) of the principal amount of such Competitive Bid Loan.

     (j)  (i)  Each Lender shall maintain in accordance with its usual
     practice an account or accounts evidencing the indebtedness of the
     Borrower to such Lender resulting from each Competitive Bid Loan
     made by such Lender to the Borrower from time to time, including
     the amounts of principal and interest payable and paid to such
     Lender from time to time hereunder.
                                   24
        (ii)  The entries maintained in the accounts maintained pursuant
    to paragraph (i) shall be prima facie evidence of the existence and
    amounts of the Obligations therein recorded; PROVIDED, HOWEVER, that
    the failure of the Administrative Agent or any Lender to maintain
    such accounts or any error therein shall not in any manner affect
    the obligation of the Borrower to repay the Obligations in
    accordance with their terms.

          (iii)  The Competitive Bid Loans made by each Lender shall be
     evidenced by such Lender's respective Revolving Credit Notes.

     (k)  The Borrower shall repay the outstanding principal amount of
 each Competitive Bid Loan made to it in full on the last day of the
 Interest Period applicable thereto, with all accrued but unpaid
 interest thereon.  Competitive Bid Loans may not be repaid prior to the
 last day of the applicable Interest Period except in accordance with
 Section 2.3(b) and (e).

     SECTION 2.6    SWINGLINE LOANS AND PROCEDURE.

     (a)  SWINGLINE COMMITMENT.  Subject to the terms and conditions set
 forth herein, from time to time until the Swingline Termination Date,
 the Swingline Lender agrees to make, under the Five Year Facility, a
 revolving loan or revolving loans (each a "SWINGLINE LOAN" and,
 collectively, the "SWINGLINE LOANS") to the Borrower, which Swingline
 Loans (i) shall be denominated in Dollars, (ii) may be repaid and
 reborrowed in accordance with the provisions hereof, (iii) shall not
 exceed in aggregate principal amount at any time outstanding, when
 combined with the sum of the aggregate principal amount of outstanding
 Revolving Credit Loans made under the Five Year Facility PLUS the
 aggregate principal amount of Competitive Bid Loans made thereunder at
 any time, the Five Year Facility Commitment LESS the sum of all
 outstanding L/C Obligations, (iv) shall not exceed in aggregate
 principal amount at any time outstanding the Swingline Commitment and
 (v) shall bear interest at a rate mutually agreeable to the Swingline
 Lender and the Borrower.  Notwithstanding anything to the contrary
 contained in this Section 2.6(a), (x) the Swingline Lender shall not be
 obligated to make any Swingline Loans at a time when a Lender Default
 exists unless the Swingline Lender has entered into arrangements
 satisfactory to it and the
<PAGE>
 Borrower to eliminate the Swingline Lender's risk with respect to the
 Defaulting Lender's or Lenders' participation in such Swingline Loans,
 including by cash collateralizing such Defaulting Lender's or Lenders'
 Commitment Percentage of the outstanding Swingline Loans and (y) the
 Swingline Lender shall not make any Swingline Loan after it has
 received written notice from the Borrower or the Required Lenders
 stating that a Default or an Event of Default exists and is continuing
 until such time as the Swingline Lender shall have received written
 notice (A) of rescission of all such notices from the party or parties
 originally delivering such notice or (B) of the waiver of such Default
 or Event of Default by the Required Lenders.

     (b)  MANDATORY BORROWINGS.

          (i)  On any Business Day, the Swingline Lender may, in its
     sole discretion, advise the Administrative Agent to give notice to
     the Lenders that the Swingline Lender's outstanding Swingline Loans
     under the Five Year Facility shall be funded with one or more
     borrowings of Revolving Credit Loans denominated in Dollars
     (PROVIDED that such
                                   25
     notice shall be deemed to have been automatically given with
     respect to outstanding Swingline Loans upon the occurrence of a
     Default or an Event of Default under Section 11.1(i), (j), (k) or
     (l)), in which case one or more borrowings of Revolving Credit
     Loans under the Five Year Facility constituting Base Rate Loans
     (each such Borrowing, a "MANDATORY BORROWING") shall be made on the
     immediately succeeding Business Day by all Lenders in accordance
     with each Lender's Commitment Percentage and the proceeds thereof
     shall be applied directly by the Administrative Agent to repay the
     Swingline Lender for such outstanding Swingline Loans.  Each Lender
     hereby irrevocably agrees to make Revolving Credit Loans upon one
     Business Day's notice pursuant to each Mandatory Borrowing in the
     amount and in the manner specified in the preceding sentence and on
     the date specified in writing by the Administrative Agent
     notwithstanding (A) the amount of the Mandatory Borrowing may not
     comply with the minimum borrowing amount otherwise required
     hereunder, (B) whether any conditions specified in Section 5.3 are
     then satisfied, (C) whether a Default or an Event of Default then
     exists, (D) the date of such Mandatory Borrowing and (E) the amount
     of the Five Year Facility Commitment or the Aggregate Revolving
     Credit Commitment at such time.  In the event that any Mandatory
     Borrowing cannot for any reason be made on the date otherwise
     required above (including, without limitation, as a result of the
     occurrence of a Bankruptcy Event with respect to any
     Credit Party), then each Lender hereby agrees that it shall
     forthwith purchase (as of the date the Mandatory Borrowing would
     otherwise have occurred, but adjusted for any payments received
     from the Borrower on or after such date and prior to such purchase)
     from the Swingline Lender such participations in the outstanding
     Swingline Loans made under the Five Year Facility as shall be
     necessary to cause the Lenders to share in such Swingline Loans
     ratably based upon their respective Commitment Percentages,
     PROVIDED that (x) all interest payable on the Swingline Loans shall
     be for the account of the Swingline Lender until the date as of
     which the respective participation is required to be purchased and,
     to the extent attributable to the purchased participation, shall be
     payable to the
<PAGE>
     participant from and after such date and (y) at the time any
     purchase of participations pursuant to this sentence is actually
     made, the purchasing Lender shall be required to pay the Swingline
     Lender interest on the principal amount of participations purchased
     for each day from and including the day upon which the Mandatory
     Borrowing would otherwise have occurred to but excluding the date
     of payment for such participation, at the overnight Federal Funds
     Rate for the first three days and at the rate otherwise applicable
     to Base Rate Loans hereunder for each day thereafter.

          (ii)  To the extent amounts received from the Lenders pursuant
     to Section 2.6(b)(i) above are not sufficient to repay in full the
     outstanding Swingline Loans requested or required to be repaid, the
     Borrower agrees to pay to the Swingline Lender on demand the amount
     required to repay such Swingline Loans in full.  In addition, the
     Borrower hereby authorizes the Administrative Agent to charge any
     account maintained by the Borrower with the Swingline Lender (up to
     the amount available therein) in order to immediately pay the
     Swingline Lender the amount of such Swingline Loans to the extent
     amounts received from the Lenders are not sufficient to repay in
     full the outstanding Swingline Loans requested or required to be
     repaid.  If any portion of any such amount paid to the Swingline
     Lender shall be recovered by or on behalf of
                                   26
     the Borrower from the Swingline Lender in bankruptcy or otherwise,
     the loss of the amount so recovered shall be ratably shared among
     all the Lenders in accordance with their respective Commitment
     Percentages.

     (c)  AMOUNT OF EACH SWINGLINE BORROWING.  Each Swingline Loan shall
 be made in an aggregate principal amount of $500,000 or a whole
 multiple of $l00,000 in excess thereof.

     (d)  NOTICE OF BORROWING.

          (i)  The Borrower shall give the Swingline Lender irrevocable
     prior written notice (a "NOTICE OF SWINGLINE BORROWING")
     substantially in the form attached as EXHIBIT B-2 no later than
     11:00 a.m. (Charlotte time) (i) on the same Business Day as each
     Base Rate Loan, (ii) at least three (3) Business Days before each
     Offshore Rate Loan or (iii) on such other Business Day as may be
     mutually agreeable to the Swingline Lender and the Borrower, of its
     intention to borrow, specifying (A) the date of such borrowing,
     which shall be a Business Day, (B) the amount of such borrowing,
     which shall be in an amount equal to the unused amount of the
     Swingline Commitment or less, (C) whether such Swingline Loan is to
     be an Offshore Rate Loan, a Base Rate Loan or a Swingline Loan
     bearing interest at an alternative rate mutually agreeable to the
     Swingline Lender and the Borrower (in each case subject to the
     consent of the Swingline Lender) and (D) in the case of an Offshore
     Rate Loan, the duration of the Interest Period applicable thereto.
     Notices received after 1:00 p.m. (Charlotte time) shall be deemed
     received on the next Business Day.

          (ii)  Mandatory Borrowings shall be made upon the notice
     specified in Section 2.6(b), with the Borrower irrevocably
     agreeing,
<PAGE>
     by its incurrence of any Swingline Loan, to the making of the
     Mandatory Borrowings as set forth in Section 2.6(b).

     (e)  DISBURSEMENT OF FUNDS.  Not later than 2:00 p.m. (Charlotte
 time) on the proposed borrowing date, the Swingline Lender will make
 available to the Administrative Agent, for the account of the Borrower,
 at the office of the Administrative Agent in funds immediately available
 to the Administrative Agent, the amount of the Swingline Loan to be made
 on such borrowing date.  In the case of Mandatory Borrowings, no later
 than 2:00 p.m. (Charlotte time) on the date specified in Section 2.6(b)
 each Lender will make available to the Administrative Agent, for the
 account of the Borrower, at the office of the Administrative Agent in
 funds immediately available to the Administrative Agent, such Lender's
 Commitment Percentage of Mandatory Borrowings to be made on such
 borrowing date.  The Borrower hereby irrevocably authorizes the
 Administrative Agent to disburse the proceeds of each borrowing
 requested pursuant to this Section 2.6 in immediately available funds
 by crediting or wiring such proceeds to the deposit account of the
 Borrower identified in the most recent Notice of Account Designation or
 as may be otherwise agreed upon by the Borrower and the Administrative
 Agent from time to time or, in the case of Mandatory Borrowings, in the
 manner specified in Section 2.6(b)(i).  Subject to Section 4.7 hereof,
 the Administrative Agent shall not be obligated to disburse the
 proceeds of any Swingline Loan requested pursuant to this Section 2.6
 to the extent that the Swingline Lender has not made available to the
 Administrative Agent the amount of such Swingline Loan.
                                   27
     (f)  NOTES.  The Swingline Lender's Swingline Loans shall be
 evidenced by such Lender's respective Revolving Credit Note.

     (g)  USAGE UNDER FIVE YEAR FACILITY COMMITMENTS.  While any
 Swingline Loan made under the Five Year Facility is outstanding, the
 Five Year Facility Commitment of each Lender shall be deemed used for
 all purposes by an amount equal to its pro rata share (based on its
 respective Five Year Facility Commitment Percentage) of the principal
 amount of such Swingline Loan.

     SECTION 2.7    COMMITMENT REDUCTIONS.

     (a)  VOLUNTARY REDUCTION.  The Borrower shall have the right at any
 time and from time to time, upon at least four (4) Business Days' prior
 written notice to the Administrative Agent, to permanently reduce
 (except as provided below), without premium or penalty, (i) (A) the
 entire 364 Day Facility Commitment at any time or (B) portions of the
 364 Day Facility Commitment from time to time in an aggregate principal
 amount not less than $5,000,000 or any whole multiple of $1,000,000 in
 excess thereof or (ii) (A) the entire Five Year Facility Commitment at
 any time or (B) portions of the Five Year Facility Commitment from time
 to time, in an aggregate principal amount not less than $5,000,000 or
 any whole multiple of $1,000,000 in excess thereof.

     (b)  PAYMENTS RELATED TO A VOLUNTARY REDUCTION.

          (i)  Each permanent reduction of the 364 Day Facility
     Commitment made pursuant to this Section 2.7 shall be accompanied,
     if necessary, by a payment of principal sufficient to reduce the
     aggregate
<PAGE>
     outstanding Revolving Credit Loans made under the 364 Day Facility
     to the amount of the new 364 Day Facility Commitment after such
     reduction to the 364 Day Facility Commitment.  Any reduction of the
     364 Day Facility Commitment to zero (including upon termination of
     the 364 Day Facility on the 364 Day Facility Termination Date)
     shall be accompanied by payment of all outstanding Revolving Credit
     Loans made under the 364 Day Facility and shall result in the
     termination of the 364 Day Facility Commitment and the 364 Day
     Facility.  If the reduction of the 364 Day Facility Commitment
     requires the repayment of any Offshore Rate Loan, such repayment
     shall be accompanied by any amount required to be paid pursuant
     to Section 4.9 hereof.  Notwithstanding anything herein to the
     contrary, the 364 Day Facility Commitment may not be permanently
     reduced by such an amount so that after such reduction, the 364 Day
     Facility Commitment is less than the aggregate amount of all unpaid
     principal of and interest on outstanding Competitive Bid Loans made
     under the 364 Day Facility.

          (ii)  Each permanent reduction of the Five Year Facility
     Commitment made pursuant to this Section 2.7 shall be accompanied,
     if necessary, by a payment of principal sufficient to reduce the
     aggregate outstanding Revolving Credit Loans and Swingline Loans
     made under the Five Year Facility and L/C Obligations, as
     applicable, to the amount of the new Five Year Facility Commitment
     after such
                                     28
     reduction to the Five Year Facility Commitment and, if the Five
     Year Facility Commitment as so reduced is less than the aggregate
     amount of all outstanding Letters of Credit, the Borrower shall be
     required to deposit in a cash collateral account opened by the
     Administrative Agent an amount equal to the amount by which the
     aggregate then undrawn and unexpired amount of such Letters of
     Credit exceeds the Five Year Facility Commitment as so reduced.
     Such cash collateral shall be applied in accordance with Section
     11.2(b).  Any reduction of the Five Year Facility Commitment to
     zero (including upon termination of the Five Year Facility on the
     Five Year Facility Termination Date) shall be accompanied by
     payment of all outstanding Revolving Credit Loans and Swingline
     Loans made under the Five Year Facility (and furnishing of cash
     collateral satisfactory to the Administrative Agent for all L/C
     Obligations) and shall result in the termination of the Five Year
     Facility Commitment and the Five Year Facility.  If the reduction
     of the Five Year Facility Commitment requires the repayment of any
     Offshore Rate Loan, such repayment shall be accompanied by any
     amount required to be paid pursuant to Section 4.9 hereof.
     Notwithstanding anything herein to the contrary,
     the Five Year Facility Commitment may not be permanently reduced by
     such an amount so that after such reduction, the Five Year Facility
     Commitment is less than the aggregate amount of all unpaid
     principal of and interest on outstanding Competitive Bid Loans made
     under the Five Year Facility.

     SECTION 2.8    TERMINATION; EXTENSION OPTION.

     (a)  TERMINATION OF 364 DAY FACILITY.  The 364 Day Facility shall
 terminate on the earliest of (a) the 364 Day Facility Specified
 Maturity Date, (b) the date of termination of the 364 Day Facility
 Commitment by the Borrower pursuant to Section 2.7(a), and (c) the date
<PAGE>
 of termination by the Administrative Agent on behalf of the Lenders
 pursuant to Section 11.2(a).

     (b)  TERMINATION OF FIVE YEAR FACILITY.  The Five Year Facility
 shall terminate on the earliest of (a) the Five Year Facility Specified
 Maturity Date, (b) the date of termination of the Five Year Facility
 Commitment by the Borrower pursuant to Section 2.7(a), and (c) the date
 of termination by the Administrative Agent on behalf of the Lenders
 pursuant to Section 11.2(a).

     (c)  364 DAY FACILITY SPECIFIED MATURITY DATE EXTENSION OPTION.  If
 (i) the Borrower shall have delivered to the Administrative Agent a
 written notice requesting an extension of the 364 Day Facility
 Specified Maturity Date at least three (3) Business Days prior to the
 364 Day Facility Specified Maturity Date then in effect (which notice
 the Administrative Agent shall promptly transmit to each Lender) and
 (ii) no Default or Event of Default exists on the otherwise applicable
 364 Day Facility Specified Maturity Date, then such otherwise
 applicable 364 Day Facility Specified Maturity Date shall be extended
 to the first anniversary of the 364 Day Facility Specified Maturity
 Date then in effect.  No additional borrowings may be made under the
 364 Day Facility during such extension period and any amounts repaid on
 Loans outstanding under the 364 Day Facility during such extension
 period may not be reborrowed.
                                   29
                          ARTICLE III

                   LETTER OF CREDIT FACILITY

     SECTION 3.1    L/C COMMITMENT.

     Subject to the terms and conditions hereof, each Issuing Lender, in
 reliance on the agreements of the other Lenders set forth in Section
 3.4(a), agrees to issue standby and/or trade letters of credit
 ("LETTERS OF CREDIT") for the account of the Borrower on any Business
 Day from the Closing Date through but not including the Five Year
 Facility Termination Date in such form as may be approved from time to
 time by such Issuing Lender; PROVIDED, that no Issuing Lender shall
 have any obligation to issue any Letter of Credit if, after giving
 effect to such issuance, (a) the L/C Obligations would exceed the L/C
 Commitment or (b) the sum of (i) the aggregate principal amount of
 outstanding Revolving Credit Loans made under the Five Year Facility,
 (ii) the aggregate principal amount of outstanding Swingline Loans made
 under the Five Year Facility, (iii) the aggregate principal amount of
 L/C Obligations and (iv) the aggregate principal amount of Competitive
 Bid Loans made under the Five Year Facility, would exceed the Five Year
 Facility Commitment.  Each Letter of Credit shall (A) be denominated in
 Dollars, (B) be a letter of credit issued to support obligations of the
 Borrower or any of its Subsidiaries, contingent or otherwise, incurred
 in the ordinary course of business, (C) expire on a date no later than
 one year from the date of issuance thereof and no later than the Five
 Year Facility Termination Date and (D) be subject to the Uniform
 Customs and, to the extent not inconsistent therewith, the laws of the
 State in which the corporate headquarters of the relevant Issuing
 Lender is located or such other jurisdiction as is acceptable to the
 relevant Issuing Lender.  No Issuing Lender shall at any time be
 obligated to issue any Letter of Credit hereunder if such
<PAGE>
 issuance would conflict with, or cause such Issuing Lender or any L/C
 Participant to exceed any limits imposed by, any Applicable Law.
 References herein to "issue" and derivations thereof with respect to
 Letters of Credit shall also include extensions or modifications of any
 existing Letters of Credit, unless the context otherwise requires.

     SECTION 3.2    PROCEDURE FOR ISSUANCE OF LETTERS OF CREDIT.

     The Borrower may from time to time request that any Issuing Lender
 issue a Letter of Credit (or amend, extend or renew an outstanding
 Letter of Credit) by delivering to such Issuing Lender at any Issuing
 Lender's office at any address mutually acceptable to the Borrower and
 such Issuing Lender an L/C Application therefor, completed to the
 satisfaction of such Issuing Lender, and such other certificates,
 documents and other papers and information as such Issuing Lender may
 reasonably request.  The L/C Application will contain a representation
 and warranty that the conditions specified in Section 5.3 hereof have
 been satisfied or waived in writing by the Administrative Agent as of
 the date of the L/C Application.  Upon receipt of any L/C Application,
 such Issuing Lender shall process such L/C Application and the
 certificates, documents and other papers and information delivered to
 it in connection therewith in accordance with its customary procedures
 and shall, subject to Section 3.1, this Section 3.2 and Article V
 hereof, promptly issue the Letter of Credit (or amend, extend or renew
 the outstanding Letter of Credit) requested thereby (but in no event
 shall any Issuing Lender be required to issue any Letter of Credit (or
 amend, extend or renew an outstanding
                                   30
 Letter of Credit) earlier than three (3) Business Days after its
 receipt of the L/C Application therefor and all such other
 certificates, documents and other papers and information relating
 thereto) by issuing the original of such Letter of Credit to the
 beneficiary thereof or as otherwise may be agreed by such Issuing
 Lender and the Borrower. Within fifteen (15) Business Days after the
 end of each calendar quarter, each Issuing Lender (or the
 Administrative Agent if the Administrative Agent agrees to undertake
 such action) shall report to each Lender all Letters of Credit issued
 by it during the previous calendar quarter and the average daily
 undrawn and unexpired amounts for all Letters of Credit for each day in
 such calendar quarter.

     SECTION 3.3    FEES AND OTHER CHARGES.

     (a)  The Borrower agrees to pay to the Administrative Agent, for
 the account of each Issuing Lender and the L/C Participants, a letter
 of credit fee (the "L/C FEE") with respect to each Letter of Credit
 issued by such Issuing Lender in an amount equal to the Applicable
 Percentage for L/C Fee TIMES the average daily undrawn amount of such
 issued Letters of Credit as reported by such Issuing Lender (or the
 Administrative Agent) pursuant to Section 3.2.  Such fee shall be
 payable quarterly in arrears on the last Business Day of each calendar
 quarter, commencing on the first of such dates to occur after the
 Closing Date, and on the Five Year Facility Termination Date.

     (b)  The Administrative Agent shall, promptly following its receipt
 thereof, distribute to each Issuing Lender and the L/C Participants the
 L/C Fees received by the Administrative Agent in accordance with their
 respective Five Year Facility Commitment Percentages.
<PAGE>
     (c)  In addition to the L/C Fees, the Borrower agrees to pay to the
 relevant Issuing Lender that has issued a Letter of Credit at the
 request of the Borrower, for such Issuing Lender's own account without
 sharing by the other Lenders, (i) a fronting fee of 0.125% per annum on
 the aggregate stated amount of such Letter of Credit for the
 stated duration thereof and (ii) customary charges of such Issuing
 Lender with respect to the issuance, amendment, transfer,
 administration, cancellation and conversion of, and drawings under,
 such Letters of Credit.

     SECTION 3.4    L/C PARTICIPATIONS.
     (a)  Each Issuing Lender irrevocably agrees to grant and hereby
 grants to each L/C Participant, and, to induce such Issuing Lender to
 issue Letters of Credit hereunder, each L/C Participant irrevocably
 agrees to accept and purchase and hereby accepts and purchases from
 such Issuing Lender, on the terms and conditions hereinafter stated,
 for such L/C Participant's own account and risk, an undivided interest
 equal to such L/C Participant's Five Year Facility Commitment
 Percentage in such Issuing Lender's obligations and rights under each
 Letter of Credit issued hereunder and the amount of each draft paid by
 such Issuing Lender thereunder.  Each L/C Participant unconditionally
 and irrevocably agrees with each Issuing Lender that, if a draft is
 paid under any Letter of Credit for which such Issuing Lender is not
 reimbursed in full by the Borrower in accordance with the terms of this
 Agreement, such L/C Participant shall pay to such Issuing Lender upon
 demand at such Issuing Lender's address for notices specified herein an
 amount equal to such L/C Participant's Five Year Facility Commitment
 Percentage of the amount of such draft, or any part thereof, which is
 not so reimbursed.
                                   31
     (b)  Upon becoming aware of any amount required to be paid by any
 L/C Participant to any Issuing Lender pursuant to Section 3.4(a) in
 respect of any unreimbursed portion of any payment made by such Issuing
 Lender under any Letter of Credit, the Administrative Agent shall
 notify each L/C Participant of the amount and due date of such required
 payment and such L/C Participant shall pay to such Issuing Lender the
 amount specified on the applicable due date.  If any such amount is
 paid to such Issuing Lender after the date such payment is due, such
 L/C Participant shall pay to such Issuing Lender on demand, in addition
 to such amount, the product of (i) such amount, TIMES (ii) the daily
 average Federal Funds Rate as determined by the Administrative Agent
 during the period from and including the date such payment is due to
 the date on which such payment is immediately available to such Issuing
 Lender, TIMES (iii) a fraction the numerator of which is the number of
 days that elapse during such period and the denominator of which is
 360.  A certificate of any Issuing Lender with respect to any amounts
 owing under this Section 3.4(b) shall be conclusive in the absence of
 manifest error.  With respect to payment to any Issuing Lender of the
 unreimbursed amounts described in this Section 3.4(b), if the L/C
 Participants receive notice that any such payment is due (A) prior to
 1:00 p.m. (Charlotte time) on any Business Day, such payment shall be
 due that Business Day, and (B) after 1:00 p.m. (Charlotte time) on any
 Business Day, such payment shall be due on the following Business Day.

     (c)  Whenever, at any time after any Issuing Lender has made
 payment under any Letter of Credit and has received from any L/C
 Participant its Five Year Facility Commitment Percentage of such
 payment in accordance
<PAGE>
 with this Section 3.4, such Issuing Lender receives any payment related
 to such Letter of Credit (whether directly from the Borrower or
 otherwise, or any payment of interest on account thereof), such Issuing
 Lender will distribute to such L/C Participant its PRO RATA share
 thereof in accordance with such L/C Participant's Five Year Facility
 Commitment Percentage; PROVIDED, that in the event that any such
 payment received by such Issuing Lender shall be required to be
 returned by such Issuing Lender, such L/C Participant shall return to
 such Issuing Lender the portion thereof previously distributed by such
 Issuing Lender to it.

     SECTION 3.5    REIMBURSEMENT OBLIGATION OF THE BORROWER.
     The Borrower agrees to reimburse each Issuing Lender on each date
 such Issuing Lender or the Administrative Agent notifies the Borrower
 of the date and amount of a draft paid under any Letter of Credit
 requested by the Borrower for the amount of (i) such draft so paid and
 (ii) any taxes, fees, charges or other costs or expenses incurred by
 any Issuing Lender in connection with such payment.  Each such payment
 shall be made to any Issuing Lender at its address for notices
 specified herein in lawful money of the United States and in
 immediately available funds.  Interest shall be payable on any and all
 amounts remaining unpaid by the Borrower under this Article III from
 the date such amounts become payable (whether at stated maturity, by
 acceleration or otherwise) until payment
 in full at the rate which would be payable on any outstanding Base Rate
 Loans which were then overdue.  If the Borrower fails to timely
 reimburse such Issuing Lender on the date the Borrower receives the
 notice referred to in this Section 3.5, the Borrower shall be deemed to
 have timely given a Notice of Revolving Credit Borrowing pursuant to
 Section 2.2 hereunder to the Administrative Agent requesting the
 Lenders to make a Base Rate
                                   32
 Loan under the Five Year Facility on such date in an amount equal to
 the amount of such draft paid, together with any taxes, fees, charges
 or other costs or expenses incurred by any Issuing Lender and to be
 reimbursed pursuant to this Section 3.5 and, regardless of whether or
 not the conditions precedent specified in Article V have been
 satisfied, the Lenders shall make Base Rate Loans in such amount, the
 proceeds of which shall be applied to reimburse such Issuing Lender for
 the amount of the related drawing and costs and expenses.
 Notwithstanding the foregoing, nothing in this Section 3.5 shall
 obligate the Lenders to make such Base Rate Loans if the making of such
 Base Rate Loans would violate the automatic stay under federal
 bankruptcy laws.

     SECTION 3.6    OBLIGATIONS ABSOLUTE.
     The Borrower's obligations under this Article III (including
 without limitation the Reimbursement Obligation) shall be absolute and
 unconditional under any and all circumstances and irrespective of any
 set-off, counterclaim or defense to payment which the Borrower may have
 or have had against any Issuing Lender or any beneficiary of a Letter
 of Credit.  The Borrower also agrees with each Issuing Lender that no
 Issuing Lender shall be responsible for, and the Borrower's
 Reimbursement Obligation under Section 3.5 shall not be affected by,
 among other things, the validity or genuineness of documents or of any
 endorsements thereon, even though such documents shall in fact prove to
 be invalid, fraudulent or forged, or any dispute between or among the
 Borrower and any beneficiary of any Letter of Credit or any other party
<PAGE>
 to which such Letter of Credit may be transferred or any claims
 whatsoever of the Borrower against any beneficiary of such Letter
 of Credit or any such transferee.  No Issuing Lender shall be liable
 for any error, omission, interruption or delay in transmission,
 dispatch or delivery of any message or advice, however transmitted, in
 connection with any Letter of Credit, except for errors or omissions
 caused by such Issuing Lender's gross negligence or willful misconduct.
 The Borrower agrees that any action taken or omitted by any Issuing
 Lender under or in connection with any Letter of Credit or the related
 drafts or documents, if done in the absence of gross negligence or
 willful misconduct and in accordance with the standards of care
 specified in the Uniform Customs and, to the extent not inconsistent
 therewith, the UCC shall be binding on the Borrower and shall not
 result in any liability of any Issuing Lender to the Borrower.
 The responsibility of each Issuing Lender to the Borrower in connection
 with any draft presented for payment under any Letter of Credit shall,
 in addition to any payment obligation expressly provided for in such
 Letter of Credit, be limited to determining that the documents
 (including each draft) delivered under such Letter of Credit in
 connection with such presentment are in conformity with such Letter of
 Credit.

     SECTION 3.7    EFFECT OF L/C APPLICATION.

     To the extent that any provision of any L/C Application related to
 any Letter of Credit is inconsistent with the provisions of this
 Article III, the provisions of this Article III shall apply.
                                   33
                           ARTICLE IV
                    GENERAL LOAN PROVISIONS

     SECTION 4.1    INTEREST.

     (a)  INTEREST RATE OPTIONS.  Subject to the provisions of this
 Section 4.1, at the election of the Borrower, the aggregate principal
 balance of any Revolving Credit Loans and Swingline Loans (if the
 Swingline Lender consents to such election) shall bear interest at (i)
 the Base Rate or (ii) the Offshore Rate PLUS the Applicable Percentage
 for Offshore Rate Loans under the 364 Day Facility or the Five Year
 Facility, as applicable; PROVIDED that (A) such interest rate shall be
 increased by any amount required pursuant to Section 4.1(f) and (B)
 Offshore Rate Loans shall not be available until three (3) Business
 Days after the Closing Date.  The Borrower shall select the rate of
 interest and Interest Period, if any, applicable to any Revolving
 Credit Loan or Swingline Loan at the time a Notice of Revolving Credit
 Borrowing is given pursuant to Section 2.2, or at the time a Notice of
 Swingline Borrowing is given pursuant to Section 2.6(d) or at the time
 a Notice of Conversion/Continuation is given pursuant to Section 4.2.
 Each Revolving Credit Loan, Swingline Loan, or portion thereof bearing
 interest based on the Base Rate shall be a "Base Rate Loan," and each
 Revolving Credit Loan, Swingline Loan, or portion thereof bearing
 interest based on the Offshore Rate shall be an "Offshore Rate Loan."
 Any Revolving Credit Loan or Swingline Loan or any portion thereof as
 to which the Borrower has not duly specified an interest rate as
 provided herein shall be deemed a Base Rate Loan.  A Competitive Bid
 Loan will bear interest at the Competitive Bid Rate specified in the
 Competitive Bid accepted by the Borrower with respect to such
 Competitive Bid Loan.
<PAGE>
     (b)  INTEREST PERIODS.  In connection with each Offshore Rate Loan
 and each Competitive Bid Loan, the Borrower, by giving notice at the
 times described in Section 4.1(a), shall elect an interest period
 (each, an "INTEREST PERIOD") to be applicable to such Revolving Credit
 Loan or such Competitive Bid Loan, which Interest Period shall, unless
 otherwise agreed by the Administrative Agent and the Lenders, be a
 period of one (1), two (2), three (3) or six (6) months with respect to
 each Offshore Rate Loan and a period of seven (7) days to 183 days with
 respect to each Competitive Bid Loan; PROVIDED that:

          (i)  the Interest Period shall commence on the date of advance
      of or conversion to any Offshore Rate Loan and, in the case of
      immediately successive Interest Periods, each successive Interest
      Period shall commence on the date on which the next preceding
      Interest Period expires;

          (ii)  if any Interest Period would otherwise expire on a day
    that is not a Business Day, such Interest Period shall expire on the
    next succeeding Business Day; PROVIDED, that if any Interest Period
    with respect to an Offshore Rate Loan would otherwise expire on a
    day that is not a Business Day but is a day of the month after which
    no further Business Day occurs in such month, such Interest Period
    shall expire on the next preceding Business Day;
                                   34
        (iii)  any Interest Period with respect to an Offshore Rate Loan
    that begins on the last Business Day of a calendar month (or on a
    day for which there is no numerically corresponding day in the
    calendar month at the end of such Interest Period) shall end on the
    last Business Day of the relevant calendar month at the end of such
    Interest Period;

        (iv)  no Interest Period shall extend beyond the Termination
    Date of the facility under which the Offshore Rate Loan or
    Competitive Bid Loan with respect to which such Interest Period
    relates was made; and

       (v)  there shall be no more than six (6) Offshore Rate Loans
    outstanding hereunder at any time (it being understood that, for
    purposes hereof, Offshore Rate Loans with different Interest Periods
    shall be considered as separate Offshore Rate Loans, even if they
    begin on the same date, although borrowings, extensions and
    conversions may, in accordance with the provisions hereof, be
    combined by the Borrower at the end of existing Interest Periods to
    constitute a new Offshore Rate Loan with a single Interest Period).

    (c)  DEFAULT RATE, ETC.  Subject to Section 11.3, unless otherwise
 agreed by the Administrative Agent and the Required Lenders, upon the
 occurrence and during the continuance of an Event of Default, (i) the
 Borrower shall no longer have the option to request Offshore Rate
 Loans, (ii) all outstanding Offshore Rate Loans shall bear interest at
 a rate per annum equal to two percent (2%) in excess of the rate then
 applicable to such Offshore Rate Loans until the end of the applicable
 Interest Period and thereafter at a rate equal to two percent (2%) in
 excess of the rate then applicable to Base Rate Loans, (iii) all
 outstanding Base Rate Loans shall bear interest at a rate per annum
 equal to two percent (2%) in excess of the rate then applicable to Base
 Rate Loans and (iv)
<PAGE>
 each outstanding Competitive Bid Loan shall bear interest at a rate per
 annum equal to two percent (2%) in excess of the rate then applicable
 to such Competitive Bid Loan.  Interest shall continue to accrue on the
 amount of Loans outstanding after the filing by or against the Borrower
 of any petition seeking any relief in bankruptcy or under any act or
 law pertaining to insolvency or debtor relief, whether state, federal
 or foreign.

     (d)  INTEREST PAYMENT AND COMPUTATION.  Interest on each Base Rate
 Loan shall be payable in arrears on the last Business Day of each
 calendar quarter commencing on the first of such dates to occur after
 the Closing Date, and interest on each Offshore Rate Loan and each
 Competitive Bid Loan shall be payable on the last day of each Interest
 Period applicable thereto, and if such Interest Period exceeds three
 (3) months, at the end of each three (3) month interval during such
 Interest Period.  Interest on all Loans and all fees payable hereunder
 shall be computed on the basis of a 360-day year and assessed for the
 actual number of days elapsed; PROVIDED that interest on Loans bearing
 interest at a rate based upon the Prime Rate shall be computed on the
 basis of a 365- or 366-day year, as applicable.

     (e)  MAXIMUM RATE.  In no contingency or event whatsoever shall the
 aggregate of all amounts deemed interest hereunder or under any of the
 Notes charged or collected pursuant to the terms of this Agreement or
 pursuant to any of the Notes exceed the highest rate permissible under
 any Applicable Law which a court of competent jurisdiction shall, in a
 final determination, deem applicable hereto.  In the event that such
 a court determines that the Lenders have charged or received
                                   35
 interest hereunder in excess of the highest applicable rate, the rate
in effect hereunder shall automatically be reduced to the maximum rate
 permitted by Applicable Law and the Lenders shall at the Administrative
 Agent's option (i) promptly refund to the Borrower any interest
 received by Lenders in excess of the maximum lawful rate or (ii) shall
 apply such excess to the principal balance of the Obligations.  It is
 the intent hereof that the Borrower not pay or contract to pay, and
 that neither the Administrative Agent nor any Lender receive or
 contract to receive, directly or indirectly in any manner whatsoever,
 interest in excess of that which may be paid by the Borrower under
 Applicable Law.

     (f)  UTILIZATION FEE.  In the case of all Loans, on each day that
 Utilization is equal to or greater than 25% the otherwise applicable
 interest rate determined pursuant to Section 4.1(a) shall be increased
 by the Utilization Fee.

     SECTION 4.2    CONVERSION AND CONTINUATION OF REVOLVING CREDIT
                    LOANS.
     Provided that no Default or Event of Default has occurred and is
 then continuing, and subject to the terms of this Agreement, the
 Borrower shall have the option (a) to convert all or any portion of its
 outstanding Base Rate Loans in a principal amount equal to $5,000,000
 or any whole multiple of $1,000,000 in excess thereof into one or more
 Offshore Rate Loans and (b)(i) to convert all or any part of its
 outstanding Offshore Rate Loans in a principal amount equal to
 $1,000,000 or a whole multiple of $500,000 in excess thereof into Base
 Rate Loans or (ii) to continue Offshore Rate Loans as Offshore Rate
 Loans for an
<PAGE>
 additional Interest Period; PROVIDED that if any conversion or
 continuation is made prior to the expiration of any Interest Period,
 the Borrower shall pay any amount required to be paid pursuant to
 Section 4.9 hereof.  Whenever the Borrower desires to convert or
 continue Revolving Credit Loans or Swingline Loans as provided above,
 the Borrower shall give the Administrative Agent irrevocable prior
 written notice in the form attached as EXHIBIT F (a "NOTICE OF
 CONVERSION/CONTINUATION") not later than 11:00 a.m. (Charlotte time)
 three (3) Business Days before the day on which a proposed conversion
 or continuation of such Revolving Credit Loan or Swingline Loan is to
 be effective (except in the case of a conversion of an Offshore Rate
 Loan to a Base Rate Loan, in which case same day notice not later than
 11:00 a.m. (Charlotte time) by the Borrower shall be sufficient)
 specifying (A) the Revolving Credit Loans or Swingline Loans to be
 converted or continued, the facility under which such Loans were made
 and, in the case of any Offshore Rate Loan to be converted or
 continued, the last day of the Interest Period therefor, (B) the
 effective date of such conversion or continuation (which shall be a
 Business Day), (C) the principal amount of such Revolving Credit Loans
 to be converted or continued and (D) the Interest Period to be
 applicable to such converted or continued Offshore Rate Loan.  The
 Administrative Agent shall promptly notify the Lenders of such Notice
 of Conversion/Continuation.

     SECTION 4.3    FACILITY FEES.

     (a)  364 DAY FACILITY.  The Borrower agrees to pay to the
 Administrative Agent, for the account of the Lenders, a non-refundable
 facility fee (the "364 DAY FACILITY FEE") at a rate per annum equal to
 the Applicable Percentage for Facility Fee for the 364 Day Facility on
 the average daily amount of the aggregate 364 Day Facility Commitment
 during the applicable period, regardless of usage.  The 364 Day
 Facility Fee shall apply to the period commencing on the Closing Date
 and ending
                                   36
 on the termination of the 364 Day Facility Commitment and shall be
 payable in arrears on the last Business Day of each calendar quarter
 for the immediately preceding calendar quarter (or portion thereof),
 beginning with the first such date to occur after the Closing Date.
 Such 364 Day Facility Fee shall be distributed by the Administrative
 Agent to the Lenders PRO RATA in accordance with the Lenders'
 respective 364 Day Facility Commitment Percentages.

     (b)  FIVE YEAR FACILITY.  The Borrower agrees to pay to the
 Administrative Agent, for the account of the Lenders, a non-refundable
 facility fee (the "FIVE YEAR FACILITY FEE") at a rate per annum equal
 to the Applicable Percentage for Facility Fee for the Five Year
 Facility on the average daily amount of the aggregate Five Year
 Facility Commitment during the applicable period, regardless of usage.
 The Five Year Facility Fee shall apply to the period commencing on the
 Closing Date and ending on the termination of the Five Year Facility
 Commitment and shall be payable in arrears on the last Business Day of
 each calendar quarter for the immediately preceding calendar quarter
 (or portion thereof), beginning with the first such date to occur after
 the Closing Date. Such Five Year Facility Fee shall be distributed by
 the Administrative Agent to the Lenders PRO RATA in accordance with the
 Lenders' respective Five Year Facility Commitment Percentages.
<PAGE>
     SECTION 4.4    MANNER OF PAYMENT.

     Each payment by a Credit Party on account of the principal of or
 interest on the Loans or of any fee, commission or other amounts
 (including the Reimbursement Obligation) payable to the Lenders under
 this Agreement or any Note shall be made on the date specified for
 payment under this Agreement to the Administrative Agent at the
 Administrative Agent's Office for the account of the Lenders (other
 than as set forth below), in Dollars, in immediately available funds
 and shall be made without any set-off, counterclaim or deduction
 whatsoever.  Such payments shall be made no later than 2:00 p.m.
 (Charlotte time) on the relevant date.  Any payment received after
 1:00 p.m. (Charlotte time) but before 2:00 p.m. (Charlotte time) on a
 due date shall be deemed a payment on such date for the purposes of
 Section 11.1, but for all other purposes shall be deemed to have been
 made on the next succeeding Business Day.  Any payment received after
 2:00 p.m. (Charlotte time) shall be deemed to have been made on the
 next succeeding Business Day for all purposes. Each payment to the
 Administrative Agent of the L/C Fees shall be made in like manner, but
 for the account of the Issuing Lenders and the L/C Participants.  Each
 payment to the Administrative Agent of Administrative Agent's fees or
 expenses shall be made for the account of the Administrative Agent and
 any amount payable to any Lender under Section 2.5, 2.6, 4.8, 4.9,
 4.10, 4.11 or 13.2 shall be paid to the Administrative Agent for the
 account of the applicable Lender.  The Administrative Agent shall
 distribute any such payments received by it for the account ofany other
 Lender to such Lender promptly following receipt thereof and shall wire
 advice of the amount of such credit to such Lender.  Subject to Section
 4.l(b)(ii), if any payment under this Agreement or any Note shall be
 specified to be made upon a day which is not a Business Day, it shall
 be made on the next succeeding day which is a Business Day and such
 extension of time shall in such case be included in computing any
 interest if payable along with such payment.
                                   37
     SECTION 4.5    CREDITING OF PAYMENTS AND PROCEEDS.

     In the event that any Credit Party shall fail to pay any of the
 Obligations when due and the Obligations have been accelerated pursuant
 to Section 11.2, all payments received by the Lenders upon the Notes
 and the other Obligations and all net proceeds from the enforcement of
 the Obligations shall be applied first to all expenses then due and
 payable by the Credit Parties hereunder, then to all indemnity
 obligations then due and payable by the Credit Parties hereunder, then
 to all Administrative Agent's fees then due and payable, then to all
 commitment and other fees and commissions then due and payable, then to
 accrued and unpaid interest on the Notes, the Reimbursement Obligations
 and any termination payments due in respect of a Hedging Agreement with
 any Lender or Affiliate of a Lender (which Hedging Agreement is
 permitted hereunder) (PRO RATA in accordance with all such amounts
 due), then to the principal amount of the Notes and Reimbursement
 Obligations (PRO RATA in accordance with all such amounts due) and
 then to the cash collateral account described in Section 11.2(b) hereof
 to the extent of any L/C Obligations then outstanding, in that order.

     SECTION 4.6    ADJUSTMENTS.

     If any Lender (a "BENEFITED LENDER") shall at any time receive any
<PAGE>
 payment of all or part of the Obligations owing to it, or interest
 thereon, or if any Lender shall at any time receive any collateral in
 respect to the Obligations owing to it (whether voluntarily or
 involuntarily, by set-off or otherwise) in a greater proportion than
 any such payment to and collateral received by any other Lender, if
 any, in respect of the Obligations owing to such other Lender, or
 interest thereon, such Benefited Lender shall purchase for cash from
 the other Lenders such portion of each such other Lender's Extensions
 of Credit, or shall provide such other Lenders with the benefits of any
 such collateral, or the proceeds thereof, as shall be necessary to
 cause such Benefited Lender to share the excess payment or benefits of
 such collateral or proceeds ratably with each of the Lenders; PROVIDED,
 that if all or any portion of such excess payment or benefits is
 thereafter recovered from such Benefited Lender, such purchase shall be
 rescinded, and the purchase price and benefits returned to the extent
 of such recovery, but without interest.  The Borrower agrees that each
 Lender so purchasing a portion of another Lender's Extensions of Credit
 may exercise all rights of payment (including, without limitation,
 rights of set-off) with respect to such portion as fully as if such
 Lender were the direct holder of such portion.

     SECTION 4.7    NATURE OF OBLIGATIONS OF LENDERS REGARDING
 EXTENSIONS OF CREDIT; ASSUMPTION BY THE ADMINISTRATIVE AGENT.

     The obligations of the Lenders under this Agreement to make the
 Loans and issue or participate in Letters of Credit are several and are
 not joint or joint and several.  Unless the Administrative Agent shall
 have received notice from a Lender prior to a proposed borrowing date
 (or, in the case of a Base Rate Loan, by 2:00 p.m. (Charlotte time) on
 such borrowing date) that such Lender will not make available to the
 Administrative Agent such Lender's ratable portion of the Revolving
 Credit Loans to be borrowed, the amount of Competitive Bid Loans to be
 made by such Lender or, if such Lender is the Swingline Lender, subject
 to Section 2.6(a), the amount of Swingline Loans to be made, on such
 date (which notice shall not release such Lender of its obligations
 hereunder), the Administrative Agent may assume that such Lender has
                                  38
 made such portion or amount available to the Administrative Agent on
 the proposed borrowing date in accordance with Sections 2.2(b), 2.5(f)
 and 2.6(e), and the Administrative Agent may, in reliance upon such
 assumption, make available to the Borrower on such date a corresponding
 amount.  If such amount is made available to the Administrative Agent
 on a date after such borrowing date, such Lender shall pay to the
 Administrative Agent on demand an amount, until paid, equal to the
 product of (a) the amount not made available by such Lender in
 accordance with the terms hereof, TIMES (b) the daily average Federal
 Funds Rate during such period as determined by the Administrative
 Agent, TIMES (c) a fraction the numerator of which is the number of
 days that elapse from and including such borrowing date to the date on
 which such amount not made available by such Lender in accordance with
 the terms hereof shall have become immediately available to the
 Administrative Agent and the denominator of which is 360.  A
 certificate of the Administrative Agent with respect to any amounts
 owing under this Section 4.7 shall be conclusive, absent manifest
 error.  If such Lender's Commitment Percentage of such Revolving Credit
 Loans, the amount of Competitive Bid Loans made by such Lender, or, if
 such Lender is the Swingline Lender,
<PAGE>
 the amount of such Swingline Loans, is not made available to the
 Administrative Agent by such Lender within three (3) Business Days of
 such borrowing date, the Administrative Agent shall be entitled to
 recover such amount made available by the Administrative Agent with
 interest thereon at the rate per annum applicable to such borrowing, on
 demand, from the Borrower.  The failure of any Lender to make available
 its Commitment Percentage of any Revolving Credit Loan, the amount of a
 Competitive Bid Loan or the amount of a Swingline Loan requested by the
 Borrower shall not relieve it or any other Lender of its obligation
 hereunder to make its Commitment Percentage of such Revolving Credit
 Loan, the amount of the Competitive Bid Loan or the amount of the
 Swingline Loan, respectively, available on the borrowing date, but no
 Lender shall be responsible for the failure of any other Lender to make
 its Commitment Percentage of such Revolving Credit Loan, the amount of
 such Competitive Bid Loan or the amount of such Swingline Loan,
 available on the borrowing date.

     SECTION 4.8    CHANGED CIRCUMSTANCES.

     (a)  CIRCUMSTANCES AFFECTING OFFSHORE RATE AVAILABILITY.  If with
 respect to any Interest Period: (i) the Administrative Agent or any
 Lender (after consultation with the Administrative Agent) shall
 determine that for any reason adequate and reasonable means do not
 exist for determining the Offshore Rate for any requested Interest
 Period with respect to a proposed Offshore Rate Loan or (ii) the
 Required Lenders reasonably determine (which determination shall be
 conclusive) and notify the Administrative Agent that the LIBOR Rate
 will not adequately and fairly reflect the cost to the Required Lenders
 of funding Offshore Rate Loans for such Interest Period, then the
 Administrative Agent shall forthwith give notice thereof to the
 Borrower.  Thereafter, until the Administrative Agent notifies the
 Borrower that such circumstances no longer exist, the obligation of the
 Lenders to make Offshore Rate Loans and the right of the Borrower to
 convert any Revolving Credit Loan to or continue any Revolving Credit
 Loan as an Offshore Rate Loan shall be suspended, and the Borrower
 shall repay in full (or cause to be repaid in full) the then
 outstanding principal amount of each such Offshore Rate Loan together
 with accrued interest thereon, on the last day of the then current
 Interest Period applicable to such Offshore Rate Loan or convert the
 then outstanding principal amount of each such Offshore Rate Loan to a
 Base Rate Loan as of the last day of such Interest Period.
                                   39
     (b)  LAWS AFFECTING OFFSHORE RATE AVAILABILITY.  If, after the date
 hereof, the introduction of, or any change in, any Applicable Law or
 any change in the interpretation or administration thereof by any
 Governmental Authority, central bank or comparable agency charged with
 the interpretation or administration thereof, or compliance by any
 Lender (or any of their respective Lending Offices) with any request or
 directive (whether or not having the force of law) issued after the
 date hereof of any such Governmental Authority, central bank or
 comparable agency, shall make it unlawful or impossible for any of the
 Lenders (or any of their respective Lending Offices) to honor its
 obligations hereunder to make or maintain any Offshore Rate Loan, such
 Lender shall promptly give notice thereof to the Administrative Agent
 and the Administrative Agent shall promptly give notice to the Borrower
 and the other Lenders.  Thereafter, until the Administrative Agent
 notifies the Borrower that such circumstances no longer exist, (i) the
 obligations of
<PAGE>
 the affected Lenders to make Offshore Rate Loans and the right of the
 Borrower to convert any Revolving Credit Loan of the affected Lenders
 or continue any Revolving Credit Loan of the affected Lenders as an
 Offshore Rate Loan shall be suspended and thereafter the Borrower may
 select only Base Rate Loans hereunder, (ii) if any of the Lenders may
 not lawfully continue to maintain an Offshore Rate Loan to the end of
 the then current Interest Period applicable thereto as an Offshore Rate
 Loan, the applicable Offshore Rate Loan of the affected Lenders shall
 immediately be converted to a Base Rate Loan for the remainder of such
 Interest Period and the Borrower shall pay any amount required to be
 paid pursuant to Section 4.9 in connection therewith and (iii) if any
 of the Lenders may not lawfully continue to maintain a Competitive Bid
 Loan which bears interest at a rate based on the Offshore Rate to the
 end of the then current Interest Period applicable thereto at such rate
 of interest, such Competitive Bid Loan of the affected Lender sall
 immediately be converted to a Base Rate Loan for the remainder of such
 Interest Period.  The Borrower shall repay the outstanding principal
 amount of any Competitive Bid Loans converted into Base Rate Loans in
 accordance with clause (iii) of this Section 4.8(b), together with all
 accrued but unpaid interest thereon and any amount required to be paid
 pursuant to Section 4.9 hereof, on the last day of the Interest Period
 applicable to such Competitive Bid Loans.

     (c)  INCREASED COSTS.  If, after the date hereof, the introduction
 of, or any change in, any Applicable Law, or in the interpretation or
 administration thereof by any Governmental Authority, central bank or
 comparable agency charged with the interpretation or administration
 thereof, or compliance by any of the Lenders (or any of their
 respective Lending Offices) with any request or directive (whether or
 not having the force of law) issued after the date hereof of such
 Authority, central bank or comparable agency:

          (i)  shall subject any of the Lenders (or any of their
      respective Lending Offices) to any tax, duty or other charge with
      respect to any Note, Letter of Credit or L/C Application or shall
      change the basis of taxation of payments to any of the Lenders (or
      any of their respective Lending Offices) of the principal of or
      interest on any Note, Letter of Credit or L/C Application or any
      other amounts due under this Agreement in respect thereof (except
      for changes in the rate of tax on the overall net income of any of
      the Lenders or any of their respective Lending Offices imposed by
      the jurisdiction in which such Lender is organized or is or should
      be qualified to do business or such Lending Office is located); or
                                   40
          (ii)  shall impose, modify or deem applicable any reserve
      (including, without limitation, any imposed by the Board of
      Governors of the Federal Reserve System, other than those used to
      calculate the LIBOR Rate), special deposit, insurance or capital
      or similar requirement against assets of, deposits with or for the
      account of, or credit extended by any of the Lenders (or any of
      their respective Lending Offices) or shall impose on any of the
      Lenders (or any of their respective Lending Offices) or the
      foreign exchange and interbank markets any other condition
      affecting any Note;

 and the result of any event of the kind described in the foregoing
<PAGE>
 clause (i) or this clause (ii), is to increase the costs to any of the
 Lenders of maintaining any Offshore Rate Loan, Competitive Bid Loan or
 issuing or participating in Letters of Credit or to reduce the yield or
 amount of any sum received or receivable by any of the Lenders under
 this Agreement or under the Notes or any Letter of Credit or L/C
 Application, then such Lender may promptly notify the Administrative
 Agent, and the Administrative Agent shall promptly notify the Borrower
 of such fact and demand compensation therefor and, within fifteen (15)
 days after such notice by the Administrative Agent, the Borrower shall
 pay to such Lender such additional amount or amounts as will compensate
 such Lender or Lenders for such increased cost or reduction.  The
 Administrative Agent and the applicable Lender will promptly notify the
 Borrower of any event of which it has knowledge which will entitle such
 Lender to compensation pursuant to this Section 4.8(c); PROVIDED that
 the Administrative Agent shall incur no liability whatsoever to the
 Lenders or the Borrower in the event it fails to do so.  The amount of
 such compensation shall be determined, in the applicable Lender's
 reasonable discretion, based upon the assumption that such Lender
 funded its Aggregate Revolving Credit Commitment Percentage of the
 Offshore Rate Loans, or the amount of any Competitive Bid Loans made by
 such Lender, in the London interbank market and using any reasonable
 attribution or averaging methods which such Lender deems appropriate
 and practical.  A certificate of such Lender setting forth in
 reasonable detail the basis for determining such amount or amounts
 necessary to compensate such Lender shall be forwarded to the Borrower
 through the Administrative Agent and shall be conclusively presumed to
 be correct save for manifest error.

     SECTION 4.9    INDEMNITY.

     The Borrower hereby indemnifies each of the Lenders against any
 loss or expense which may arise or be attributable to each Lender's
 obtaining, liquidating or employing deposits or other funds acquired
 to effect, fund or maintain any Loan (a) as a consequence of any
 failure by the Borrower to make any payment when due of any amount due
 hereunder in connection with an Offshore Rate Loan, (b) due to any
 failure of the Borrower to borrow on a date specified therefor in a
 Notice of Revolving Credit Borrowing, Notice of Swingline Borrowing,
 Competitive Bid Request or Notice of Continuation/Conversion or (c) due
 to any payment, prepayment or conversion of any Offshore Rate Loan on a
 date other than the last day of the Interest Period therefor.  The
 amount of such loss or expense shall be determined, in the applicable
 Lender's reasonable discretion, based upon the assumption that such
 Lender funded its Commitment Percentage of the Offshore Rate Loans in
 the London interbank market and using any reasonable attribution or
 averaging methods which such Lender deems appropriate and practical.  A
 certificate of such Lender setting forth in reasonable detail the basis
 for determining such amount or amounts necessary to compensate such
 Lender shall be forwarded
                                   41
 to the Borrower through the Administrative Agent and shall be
 conclusively presumed to be correct save for manifest error.

     SECTION 4.10   CAPITAL REQUIREMENTS.

     If either (a) the introduction of, or any change in, or in the
 interpretation of, any Applicable Law or (b) compliance with any
 guideline or request issued after the date hereof from any central bank
<PAGE>
 or comparable agency or other Governmental Authority (whether or not
 having the force of law), has or would have the effect of reducing the
 rate of return on the capital of, or has affected or would affect the
 amount of capital required to be maintained by, any Lender or any
 corporation controlling such Lender as a consequence of, or with
 reference to any Lender's 364 Day Facility Commitment or Five Year
 Facility Commitment or with reference to the Swingline Lender's
 Swingline Commitment and other commitments of this type, below the
 rate which the Lender or such other corporation could have achieved but
 for such introduction, change or compliance, then within five (5)
 Business Days after written demand by any such Lender, the Borrower
 shall pay to such Lender from time to time as specified by such Lender
 additional amounts sufficient to compensate such Lender or other
 corporation for such reduction.  A certificate of such Lender setting
 forth in reasonable detail the basis for determining such amounts
 necessary to compensate such Lender shall be forwarded to the Borrower
 through the Administrative Agent and shall be conclusively presumed to
 be correct save for manifest error.

     SECTION 4.11   TAXES.

     (a)  PAYMENTS FREE AND CLEAR.  Any and all payments by the Borrower
 hereunder or under the Notes or the Letters of Credit shall be made
 free and clear of and without deduction for any and all present or
 future taxes, levies, imposts, deductions, charges or withholding, and
 all liabilities with respect thereto excluding, (i) in the case of each
 Lender and the Administrative Agent, income and franchise taxes imposed
 on (or measured by) its net income by the United States of America or
 by the jurisdiction under the laws of which such Lender or the
 Administrative Agent (as the case may be) is organized or its principal
 office is located or is or should be qualified to do business or any
 political subdivision thereof, or in the case of any Lender, in which
 its applicable Lending Office is located (PROVIDED, however, that no
 Lender shall be deemed to be located in any jurisdiction solely as a
 result of taking any action related to this Agreement, the Notes or
 Letters of Credit) and (ii) any branch profits tax imposed by the
 United States of America or any similar tax imposed by any other
 jurisdiction described in clause (i) above (all such non-excluded
 taxes, levies, imposts, deductions, charges, withholdings and
 liabilities being hereinafter referred to as "TAXES").  If the Borrower
 shall be required by law to deduct any Taxes from or in respect of any
 sum payable hereunder or under any Note or Letter of Credit to any
 Lender or the Administrative Agent, (A) the sum payable shall be
 increased as may be necessary so that after making all required
 deductions (including deductions applicable to additional sums payable
 under this Section 4.11) such Lender or the Administrative Agent (as
 the case may be) receives an amount equal to the amount such party
 would have received had no such deductions been made, (B) the Borrower
 shall make such deductions, (C) the Borrower shall pay the full amount
 deducted to the relevant taxing authority or other authority in
 accordance with applicable law, and (D) the Borrower shall deliver to
 the Administrative Agent evidence of such payment to the relevant
 taxing authority or other authority in the
                                  42
 manner provided in Section 4.11(d).  The Borrower shall not, however,
 be required to pay any amounts pursuant to clause (A) of the preceding
 sentence to any Foreign Lender or the Administrative Agent not
<PAGE>
 organized under the laws of the United States of America or a state
 thereof (or the District of Columbia) if such Foreign Lender or the
 Administrative Agent fails to comply with the requirements of paragraph
 (e) of this Section 4.11.

     (b)  STAMP AND OTHER TAXES.  In addition, the Borrower shall pay
 any present or future stamp, registration, recordation or documentary
 taxes or any other similar fees or charges or excise or property taxes,
 levies of the United States or any state or political subdivision
 thereof or any applicable foreign jurisdiction which arise from any
 payment made hereunder or from the execution, delivery or registration
 of, or otherwise with respect to, this Agreement, the Loans, the
 Letters of Credit, the other Loan Documents, or the perfection of any
 rights or security interest in respect thereto (hereinafter referred to
 as "OTHER TAXES").

     (c)  INDEMNITY.  The Borrower shall indemnify each Lender and the
 Administrative Agent for the full amount of Taxes and Other Taxes
 (including, without limitation, any Taxes and Other Taxes imposed by
 any jurisdiction on amounts payable under this Section 4.11) paid by
 such Lender or the Administrative Agent (as the case may be) and any
 liability (including penalties, interest and expenses) arising
 therefrom or with respect thereto, whether or not such Taxes or Other
 Taxes were correctly or legally asserted. A certificate as to the
 amount of such payment or liability prepared by a Lender or the
 Administrative Agent, absent manifest error, shall be conclusive,
 PROVIDED that if the Borrower reasonably believes that such Taxes or
 Other Taxes were not correctly or legally asserted, such Lender or the
 Administrative Agent (as the case may be) shall use reasonable efforts
 to cooperate with the Borrower, at the Borrower's expense, to obtain a
 refund of such Taxes or Other Taxes. Such indemnification shall be made
 within thirty (30) days from the date such Lender or the Administrative
 Agent (as the case may be) makes written demand therefor.  If a Lender
 or the Administrative Agent shall become aware that it is entitled to
 receive a refund in respect of Taxes or Other Taxes, it promptly shall
 notify the Borrower of the availability of such refund and shall,
 within sixty (60) days after receipt of a request by the Borrower
 pursue or timely claim such refund at the Borrower's expense. If any
 Lender or the Administrative Agent receives a refund in respect of any
 Taxes or Other Taxes for which such Lender or the Administrative Agent
 has received payment from the Borrower hereunder, it promptly shall
 repay such refund (plus interest received, if any) to the Borrower (but
 only to the extent of indemnity payments made, or additional amounts
 paid, by the Borrower under this Section 4.11 with respect to Taxes or
 Other Taxes giving rise to such refund), PROVIDED that the Borrower,
 upon the request of such Lender or the Administrative Agent, agrees to
 return such refund (plus any penalties, interest or other charges
 required to be paid) to such Lender or the Administrative Agent in the
 event such Lender or the Administrative Agent is required to repay such
 refund to the relevant taxing authority.

     (d)  EVIDENCE OF PAYMENT.  Within thirty (30) days after the date
 of any payment of Taxes or Other Taxes, the Borrower shall furnish to
 the Administrative Agent, at its address referred to in Section 13.1,
 the original or a certified copy of a receipt evidencing payment
 thereof or other evidence of payment satisfactory to the Administrative
 Agent.
                                   43
<PAGE>
     (e)  DELIVERY OF TAX FORMS.  Each Foreign Lender shall deliver to
 the Borrower, with a copy to the Administrative Agent, on the Closing
 Date or concurrently with the delivery of the relevant Assignment and
 Acceptance, as applicable, (i) two United States Internal Revenue
 Service Forms 4224 or Forms 1001, as applicable (or successor forms)
 properly completed and certifying in each case that such Foreign Lender
 is entitled to a complete exemption from withholding or deduction for
 or on account of any United States federal income taxes, and (ii) an
 Internal Revenue Service Form W-8 or W-9 or successor applicable form,
 as the case may be, to establish an exemption from United States backup
 withholding taxes.  Each Foreign Lender further agrees to deliver to
 the Borrower, with a copy to the Administrative Agent, a Form 1001 or
 4224 and Form W-8 or W-9, or successor applicable forms or manner of
 certification, as the case may be, on or before the date that any such
 form expires or becomes obsolete or after the occurrence of any event
 requiring a change in the most recent form previously delivered by it
 to the Borrower, certifying in the case of a Form 1001 or 4224 that
 such Foreign Lender is entitled to receive payments under this
 Agreement without deduction or withholding of any United States federal
 income taxes (unless in any such case an event (including without
 limitation any change in treaty, law or regulation) has occurred prior
 to the date on which any such delivery would otherwise be required
 which renders such forms inapplicable or the exemption to which such
 forms relate unavailable and such Foreign Lender notifies the Borrower
 and the Administrative Agent that it is not entitled to receive
 payments without deduction or withholding of United States federal
 income taxes) and, in the case of a Form W-8 or W-9, establishing an
 exemption from United States backup withholding tax.

     (f)  SURVIVAL.   Without prejudice to the survival of any other
 agreement of the Borrower hereunder, the agreements and obligations of
 the Borrower contained in this Section 4.11 shall survive the payment
 in full of the Obligations and the termination of the 364 Day Facility
 Commitment and the Five Year Facility Commitment, but shall be limited
 in duration to the applicable statute of limitations for Taxes or Other
 Taxes for which indemnification is sought.

                           ARTICLE V

          CLOSING; CONDITIONS OF CLOSING AND BORROWING

     SECTION 5.1    CLOSING.

     The parties hereto shall execute and deliver this Agreement as of
 9:00 a.m. (Charlotte time) on December 10, 1999 or on such other date
 and at such other time as the parties hereto shall mutually agree.

     SECTION 5.2    CONDITIONS TO CLOSING.

     The obligations of the Lenders to close this Agreement are subject
 to the satisfaction or waiver of each of the following conditions:
                                   44
     (a)  EXECUTED LOAN DOCUMENTS.  This Agreement, the Revolving Credit
 Notes and all other applicable Loan Documents shall have been duly
 authorized, executed and delivered to the Administrative Agent by the
 parties thereto, shall be in full force and effect and no default
<PAGE>
 (including without limitation a Default) shall exist thereunder, and
 the Credit Parties shall have delivered original counterparts thereof
 to the Administrative Agent.

     (b)  CLOSING CERTIFICATES; ETC.

          (i)  OFFICERS' CERTIFICATES.  The Administrative Agent shall
 have received a certificate from a Responsible Officer on behalf of
 each Credit Party, in form and substance reasonably satisfactory to the
 Administrative Agent, to the effect that all representations and
 warranties of such Credit Party contained in this Agreement and the
 other Loan Documents are true, correct and complete in all material
 respects; that such Credit Party is not in violation of any of the
 covenants contained in this Agreement and the other Loan Documents;
 that, after giving effect to the transactions contemplated by this
 Agreement, no Default or Event of Default has occurred and is
 continuing; and that each of the closing conditions has been satisfied
 or waived (assuming satisfaction of the Administrative Agent where not
 advised otherwise).

          (ii)  GENERAL CERTIFICATES.  The Administrative Agent shall
   have received a certificate of the secretary, assistant secretary or
   general counsel of each Credit Party certifying as to the incumbency
   and genuineness of the signature of each officer of such Credit Party
   executing Loan Documents to which it is a party and certifying that
   attached thereto is a true, correct and complete copy of (A) the
   articles of incorporation of such Credit Party and all amendments
   thereto, certified as of a recent date by the appropriate
   Governmental Authority in its jurisdiction of incorporation, (B) the
   bylaws of such Credit Party as in effect on the date of such
   certifications, (C) resolutions duly adopted by the Board of
   Directors of such Credit Party authorizing, as applicable, the
   borrowings contemplated hereunder and the execution, delivery and
   performance of this Agreement and the other Loan Documents to which
   it is a party, and (D) each certificate required to be delivered
   pursuant to Section 5.2(b)(iii).

        (iii)  CERTIFICATES OF GOOD STANDING.  The Administrative Agent
   shall have received long-form certificates as of a recent date of
   the good standing or active status, as applicable, of the Credit
   Parties and their Material Subsidiaries under the laws of their
   respective jurisdictions of organization and short-form certificates
   as of a recent date of the good standing of the Borrower under
   the laws of each other jurisdiction where the Borrower is qualified
   to do business and where a failure to be so qualified could
   reasonably be expected to have a Material Adverse Effect.

       (iv)  OPINIONS OF COUNSEL.  The Administrative Agent shall have
   received opinions in form and substance reasonably satisfactory to
   the Administrative Agent of counsel to the Credit Parties, addressed
   to the Administrative Agent and the Lenders with respect to the
   Credit Parties, the Loan Documents and such other matters as the
   Administrative Agent shall reasonably request.
                                   45
     (c)  CONSENTS; DEFAULTS.

        (i)  GOVERNMENTAL AND THIRD PARTY APPROVALS.  The Borrower shall
<PAGE>
   have obtained all approvals, authorizations and consents of any
   Person and of all Governmental Authorities and courts having
   jurisdiction necessary in order to enter into this Agreement and the
   other Loan Documents as of the Closing Date.  Additionally, there
   shall not exist any judgment, order, injunction or other restraint
   issued or filed or a hearing seeking injunctive relief or other
   restraint pending or notified prohibiting or imposing materially
   adverse conditions upon the transactions contemplated by this
   Agreement and the other Loan Documents or otherwise referred to
   herein or therein.

        (ii)  NO EVENT OF DEFAULT.  No Default or Event of Default shall
   have occurred and be continuing.

     (d)  NO MATERIAL ADVERSE EFFECT.  Since December 31, 1998 nothing
 shall have occurred (and neither the Administrative Agent nor the
 Lenders shall have become aware of any facts or conditions not
 previously known) which has had, or could reasonably be expected to
 have, a Material Adverse Effect.

     (e)  FINANCIAL MATTERS.

        (i)  FINANCIAL STATEMENTS.  The Administrative Agent shall have
   received the Annual Report on Form 10-K of the Borrower for the
   fiscal year ended as of December 31, 1998 and the Quarterly Report on
   Form 10-Q of the Borrower for the fiscal quarter ended as of
   September 30, 1999.

        (ii)  PAYMENT AT CLOSING.  The Borrower shall have paid any
   accrued and unpaid fees or commissions due hereunder (including,
   without limitation, reasonable legal fees and expenses) to the
   Administrative Agent and Lenders, and to any other Person such amount
   as may be due thereto in connection with the transactions
   contemplated hereby, including all taxes, fees and other charges in
   connection with the execution, delivery, recording, filing and
   registration of any of the Loan Documents.

     (f)  LITIGATION.  Except as set forth in the Current SEC Reports,
 as of the Closing Date, there shall be no actions, suits or proceedings
 pending or, to the best knowledge of the Borrower, threatened (i) with
 respect to this Agreement or any other Loan Document or (ii) which the
 Administrative Agent or the Required Lenders shall reasonably determine
 could reasonably be expected to have a Material Adverse Effect.

     (g)  TERMINATION OF PRIOR BANK COMMITMENT.  The Prior Bank
 Commitment shall have been (or will be upon the initial borrowing
 hereunder and the application of the proceeds thereof) (i) paid in
 full, (ii) the obligations of the Borrower satisfied thereunder and
 (iii) either (A) all outstanding promissory notes issued by the
 Borrower with respect thereto canceled and the originally executed
 copies thereof returned to the Borrower or the Administrative Agent
 (who shall promptly forward such notes to the Borrower) or (B) the
 Administrative Agent otherwise shall have received evidence
 satisfactory to it that such Prior Bank Commitment
                                  46
 has been amended and restated by this Agreement; PROVIDED that
 arrangements may be made so that any outstanding letter of credit
<PAGE>
 issued under such committed facilities may remain outstanding as
 necessary.

     (h)  MISCELLANEOUS.

        (i)  PROCEEDINGS AND DOCUMENTS. All Loan Documents, opinions,
   certificates and other instruments and all proceedings in connection
   with the transactions contemplated by this Agreement shall be
   reasonably satisfactory in form and substance to the Administrative
   Agent.

        (ii)  YEAR 2000.  The Administrative Agent shall have received
   and reviewed information in form and substance reasonably
   satisfactory to it confirming that (A) the Borrower and its
   Subsidiaries are taking all necessary and appropriate steps to
   ascertain the extent of, and to quantify and successfully address,
   business and financial risks facing the Borrower and its Subsidiaries
   as a result of what is commonly referred to as the "YEAR 2000
   PROBLEM" (I.E., the inability of certain computer applications to
   recognize and perform date sensitive functions involving certain
   dates prior to and after December 31, 1999), including risks
   resulting from the failure of key vendors and customers of the
   Borrower and its Subsidiaries to successfully address the Year 2000
   Problem, and (B) the Borrower's and its Subsidiaries' material
   computer applications and those of its key vendors and customers
   will, on a timely basis, adequately address the Year 2000 Problem in
   each case sufficient to avoid a Material Adverse Effect.

       (iii)  ACCURACY AND COMPLETENESS OF INFORMATION.  All
   information taken as an entirety made available to the Administrative
   Agent or the Lenders by the Credit Parties or any of their
   representatives in connection with the transactions contemplated
   hereby ("INFORMATION") is and will be complete and correct in all
   material respects as of the date made available to the Administrative
   Agent and does not and will not contain any untrue statement of a
   material fact or omit to state a material fact necessary to make the
   statements contained therein not misleading.

    SECTION 5.3    CONDITIONS TO ALL EXTENSIONS OF CREDIT.

     The obligation of each Lender to make any Extension of Credit
 hereunder (including the initial Extension of Credit to be made
 hereunder) is subject to the satisfaction of the following conditions
 precedent on the relevant borrowing or issue date, as applicable:

     (a)  CONTINUATION OF REPRESENTATIONS AND WARRANTIES.  The
 representations and warranties contained in Article VI shall be true
 and correct in all material respects on and as of such borrowing or
 issuance date with the same effect as if made on and as of such date,
 except for any representation and warranty made as of an earlier date,
 which representation and warranty shall remain true and correct in all
 material respects as of such earlier date.

     (b)  NO EXISTING DEFAULT.  No Default or Event of Default shall
 have occurred and be continuing hereunder (i) on the borrowing date
 with respect to such Loan or after giving effect to the Loans to be
                                    47
<PAGE>
 made one such date or (ii) on the issue date with respect to such
 Letter of Credit or after giving effect to such Letters of Credit on
 such date.

     (c)  NOTICE OF REVOLVING CREDIT BORROWING.  The Administrative
 Agent shall have received a Notice of Revolving Credit Borrowing from
 the relevant Borrower in accordance with Section 2.2(a) or a
 Competitive Bid Request in accordance with Section 2.5(a) and a Notice
 of Account Designation specifying the account or accounts to which the
 proceeds of any Loans made after the Closing Date are to be disbursed.

     The occurrence of the Closing Date and the acceptance by the
 Borrower of the benefits of each Extension of Credit hereunder shall
 constitute a representation and warranty by the Borrower to the
 Administrative Agent and each of the Lenders that all the conditions
 specified in Sections 5.2 and 5.3 and applicable to such borrowing have
 been satisfied as of that time.  All of the Notes, certificates, legal
 opinions and other documents and papers referred to in Sections 5.2 and
 5.3, unless otherwise specified, shall be delivered to the
 Administrative Agent for the account of each of the Lenders and, except
 for the Notes, in sufficient counterparts or copies for each of the
 Lenders and shall be in form and substance reasonably satisfactory to
 the Administrative Agent.

                           ARTICLE VI

      REPRESENTATIONS AND WARRANTIES OF THE CREDIT PARTIES

     SECTION 6.1    REPRESENTATIONS AND WARRANTIES.

     To induce the Administrative Agent and Lenders to enter into this
 Agreement and to induce the Lenders to make Extensions of Credit, each
 Credit Party hereby represents and warrants to the Administrative Agent
 and Lenders that:

    (a)  ORGANIZATION; POWER; QUALIFICATION.  Each of the Credit Parties
 and their Material Subsidiaries is duly organized, validly existing and
 in good standing or active status, as applicable, under the laws of the
 jurisdiction of its incorporation or formation, has the power and
 authority to own its properties and to carry on its business as now
 being and hereafter proposed to be conducted and is duly qualified and
 authorized to do business in each jurisdiction in which the character
 of its properties or the nature of its business requires such
 qualification and authorization, except where the failure to do so
 could not reasonably be expected to have a Material Adverse Effect.

     (b)  OWNERSHIP.  Each Subsidiary of each of the Credit Parties as
 of the Closing Date is listed on SCHEDULE 6.L(B). As of the Closing
 Date, all outstanding shares of each such Subsidiary have been duly
 authorized and validly issued and are fully paid and nonassessable
 (subject to Section 180.0622(2)(b) of the Wisconsin Business
 Corporation Law, relating to shareholders' liability for employee
 wages, in the case of Wisconsin corporations).  As of the Closing
 Date, there are no outstanding stock purchase warrants, subscriptions,
 options, securities, instruments or other rights of any type or nature
 whatsoever, which are convertible into, exchangeable for or otherwise
                                     48
 provide for or permit the issuance of capital stock of the Credit
<PAGE>
 Parties or their Subsidiaries, except as described in the Current SEC
 Reports.
     (c)  AUTHORIZATION OF AGREEMENT, LOAN DOCUMENTS AND BORROWING.
 Each of the Credit Parties and, if applicable, their Subsidiaries has
 the right, power and authority and has taken all necessary corporate
 and other action to authorize the execution, delivery and performance
 of each of the Loan Documents to which it is a party in accordance with
 its respective terms.  Each of the Loan Documents has been duly
 executed and delivered by the duly authorized officers of the Credit
 Parties and each of their Subsidiaries party thereto, as applicable,
 and each such document constitutes the legal, valid and binding
 obligation of the Credit Parties and, if applicable, each of their
 Subsidiaries party thereto, enforceable in accordance with its terms,
 except as such enforcement may be limited by bankruptcy, insolvency,
 reorganization, moratorium or similar state or federal debtor relief
 laws from time to time in effect which affect the enforcement of
 creditors' rights in general and the availability of equitable
 remedies.

     (d)  COMPLIANCE OF AGREEMENT, LOAN DOCUMENTS AND BORROWING WITH
 LAWS, ETC.  The execution, delivery and performance by the Credit
 Parties and their Subsidiaries of the Loan Documents to which each such
 Person is a party, in accordance with their respective terms, the
 borrowings hereunder and the transactions contemplated hereby do not
 and will not, by the passage of time, the giving of notice or
 otherwise, (i) require any of the Credit Parties or any of their
 Subsidiaries to obtain any Governmental Approval not otherwise already
 obtained or violate any Applicable Law relating to the Credit Parties
 or any of their Subsidiaries, (ii) conflict with, result in a breach of
 or constitute a default under the articles of incorporation, bylaws or
 other organizational documents of the Credit Parties or any of their
 Subsidiaries or any indenture or other material agreement or instrument
 to which such Person is a party or by which any of its properties
 may be bound or any Governmental Approval relating to such Person
 except as could not reasonably be expected to have a Material Adverse
 Effect, or (iii) result in or require the creation or imposition of any
 material Lien upon or with respect to any property now owned or
 hereafter acquired by such Person.

     (e)  COMPLIANCE WITH LAW; GOVERNMENTAL APPROVALS.  Other than with
 respect to environmental matters, which are treated exclusively in
 Section 6.1(h) hereof, each of the Credit Parties and their respective
 Subsidiaries (i) has all Governmental Approvals required by any
 Applicable Law for it to conduct its business, each of which is in full
 force and effect, is final and not subject to review on appeal and is
 not the subject of any pending or, to the best of the Credit Parties'
 knowledge, threatened attack by direct or collateral proceeding, and
 (ii) is in compliance with each Governmental Approval applicable to it
 and in compliance with all other Applicable Laws relating to it or any
 of its respective properties; in each case, except where the failure to
 do so could not reasonably be expected to have a Material Adverse
 Effect.

     (f)  TAX RETURNS AND PAYMENTS.  Each of the Credit Parties and
 their respective Subsidiaries has timely filed or caused to be filed
 all federal and state, local and other tax returns required by
 Applicable Law to be filed, and has paid, or made adequate provision
 for the payment of, all federal and state, local and other taxes,
<PAGE>
 assessments and governmental charges or levies upon it and its
 property, income, profits and assets which are due and payable, except
 taxes (i) that are being contested in good faith by appropriate
                                     49
 proceedings and for which such Credit Party or Subsidiary, as
 applicable, has set aside on its books adequate reserves or (ii) to
 the extent the failure to do so could not reasonably be expected to
 have a Material Adverse Effect.  No Governmental Authority has asserted
 any material Lien or other claim against the Credit Parties or any
 Subsidiary thereof with respect to unpaid taxes which has not been
 discharged or resolved.  The charges, accruals and reserves on the
 books of each of the Credit Parties and any of their respective
 Subsidiaries in respect of federal and all material state, local and
 other taxes for all Fiscal Years and portions thereof since the
 organization of each of the Credit Parties and any of their
 Subsidiaries are, in the judgment of the Credit Parties, adequate, and
 the Credit Parties do not anticipate any material additional taxes or
 assessments for any of such years.

     (g)  INTELLECTUAL PROPERTY MATTERS.  Each of the Credit Parties and
 its Subsidiaries owns or possesses rights to use all franchises,
 licenses, copyrights, copyright applications, patents, patent rights or
 licenses, patent applications, trademarks, trademark rights, trade
 names, trade name rights, copyrights and rights with respect to the
 foregoing which are required to conduct its business except where the
 failure to do so could not reasonably be expected to have a Material
 Adverse Effect.  No event has occurred which, to the knowledge of the
 Credit Parties, permits, or after notice or lapse of time or both would
 permit, the revocation or termination of any such rights, and, to the
 knowledge of the Credit Parties, neither the Credit Parties nor any
 Subsidiary thereof is liable to any Person for infringement under
 Applicable Law with respect to any such rights as a result of its
 business operations, except as could not reasonably be expected to have
 a Material Adverse Effect.

     (h)  ENVIRONMENTAL MATTERS.  Except as set forth in the Current SEC
 Reports or as otherwise could not reasonably be expected to have a
 Material Adverse Effect:

        (i)  The properties of the Credit Parties and their Subsidiaries
   (including soils, surface waters, groundwaters on, at or under such
   properties) do not contain and are not otherwise affected by, and to
   the Credit Parties' knowledge have not previously contained or been
   affected by, any Hazardous Materials in amounts or concentrations
   which (A) constitute or constituted a violation of applicable
   Environmental Laws or (B) could give rise to liability or obligation
   under applicable Environmental Laws;

        (ii)  The properties of the Credit Parties and their
   Subsidiaries and all operations conducted in connection therewith are
   in compliance, and have been in compliance, with all applicable
   Environmental Laws, and there are no Hazardous Materials at, under or
   about such properties or such operations which could reasonably be
   expected to interfere with the continued operation of such
   properties;

        (iii)  The Credit Parties and their Subsidiaries have obtained,
   are in compliance with, and have made all appropriate filings for
<PAGE>
   issuance or renewal of, all permits, licenses, and other governmental
   consents required by applicable Environmental Laws ("ENVIRONMENTAL
   PERMITS"), and all such Environmental Permits are in full force and
   effect;
                                   50
        (iv)  Neither any of the Credit Parties nor any Subsidiary
   thereof has received any notice of violation, alleged violation,
   non-compliance, liability or potential liability regarding
   environmental matters or compliance with Environmental Laws, nor do
   the Credit Parties have knowledge or reason to believe that any such
   notice will be received or is being threatened;

        (v)  To the knowledge of the Credit Parties, Hazardous Materials
   have not been transported or disposed of from the properties of the
   Credit Parties or any of their Subsidiaries in violation of, or in a
   manner or to a location which could reasonably be expected to give
   rise to liability under, Environmental Laws, nor, to the knowledge of
   the Credit Parties, have any Hazardous Materials been generated,
   treated, stored or disposed of at, on or under any of such properties
   in violation of, or in a manner which could reasonably be expected to
   give rise to liability under, any Environmental Laws;

        (vi)   No judicial proceedings or governmental or administrative
   action is pending, or, to the knowledge of the Credit Parties,
   threatened, under any Environmental Law to which any of the Credit
   Parties or any Subsidiary thereof has been or will be named as a
   party, nor are there any consent decrees or other decrees, consent
   orders, administrative orders or other orders, or other
   administrative or judicial requirements outstanding under any
   Environmental Law with respect to the properties or operations of the
   Credit Parties and their Subsidiaries; and

        (vii)  To the knowledge of the Credit Parties, there has been no
   release, or threat of release, of Hazardous Materials at or from the
   properties of the Credit Parties or any of their Subsidiaries, in
   violation of or in amounts or in a manner that could reasonably be
   expected to give rise to liability under Environmental Laws.

    (i)  ERISA.

        (i)  Each of the Credit Parties and each ERISA Affiliate is in
   compliance with all applicable provisions of ERISA and the
   regulations and published interpretations thereunder with respect to
   all Employee Benefit Plans except where any such noncompliance could
   not reasonably be expected to have a Material Adverse Effect.  Except
   for any failure that would not reasonably be expected to have a
   Material Adverse Effect, each Employee Benefit Plan that is intended
   to be qualified under Section 401(a) of the Code has been determined
   by the Internal Revenue Service to be so qualified, and each trust
   related to such plan has been determined to be exempt under Section
   501(a) of the Code.  No liability that could reasonably be expected
   to have a Material Adverse Effect has been incurred by the Credit
   Parties or any ERISA Affiliate which remains unsatisfied for any
   taxes or penalties with respect to any Employee Benefit Plan or any
   Multiemployer Plan;
<PAGE>
        (ii)  No accumulated funding deficiency (as defined in Section
   412 of the Code) has been incurred (without regard to any waiver
   granted under Section 412 of the Code), nor has any funding waiver
   from the Internal Revenue Service been received or requested with
                                   51
   respect to any Pension Plan except for any accumulated funding
   deficiency that could not reasonably be expected to have a Material
   Adverse Effect;

        (iii)  Neither the Credit Parties nor any ERISA Affiliate has:
   (A) engaged in a nonexempt prohibited transaction described in
   Section 406 of ERISA or Section 4975 of the Code, (B) incurred any
   liability to the PBGC which remains outstanding other than the
   payment of premiums and there are no premium payments which are due
   and unpaid, (C) failed to make a required contribution or payment to
   a Multiemployer Plan, or (D) failed to make a required installment or
   other required payment under Section 412 of the Code except where any
   of the foregoing individually or in the aggregate could not
   reasonably be expected to have a Material Adverse Effect;

        (iv)  No Termination Event that could reasonably be expected to
   result in a Material Adverse Effect has occurred or is reasonably
   expected to occur; and

        (v)  No proceeding, claim, lawsuit and/or investigation is
   existing or, to the knowledge of the Credit Parties, threatened
   concerning or involving any Employee Benefit Plan that could
   reasonably be expected to result in a Material Adverse Effect.

    (j)  MARGIN STOCK.  Neither the Credit Parties nor any Subsidiary
 thereof is engaged principally or as one of its activities in the
 business of extending credit for the purpose of ``purchasing'' or
 "carrying" any ``margin stock'' (as each such term is defined or used
 in Regulation U of the Board of Governors of the Federal Reserve
 System).  No part of the proceeds of any of the Loans or Letters of
 Credit will be used for purchasing or carrying margin stock, unless the
 Credit Parties shall have given the Administrative Agent and Lenders
 prior notice of such event and such other information as is reasonably
 necessary to permit the Administrative Agent and Lenders to comply, in
 a timely fashion, with all reporting obligations required by Applicable
 Law, or for any purpose which violates, or which would be inconsistent
 with, the provisions of Regulation T, U or X of such Board of
Governors.

     (k)  GOVERNMENT REGULATION.  Neither the Credit Parties nor any
 Subsidiary thereof is an "investment company" or a company "controlled"
 by an "investment company" (as each such term is defined or used in the
 Investment Company Act of 1940, as amended) and neither the Borrower
 nor any Subsidiary thereof is, or after giving effect to any Extension
 of Credit will be, subject to regulation under the Public Utility
 Holding Company Act of 1935 or the Interstate Commerce Act, each as
 amended.

     (l)  BURDENSOME PROVISIONS.  Neither the Credit Parties nor any
 Subsidiary thereof is a party to any indenture, agreement, lease or
 other instrument, or subject to any corporate or partnership
 restriction, Governmental Approval or Applicable Law which is so
 unusual or burdensome as in the foreseeable future could be reasonably
<PAGE>
 expected to have a Material Adverse Affect.  The Credit Parties and
 their Subsidiaries do not presently anticipate that future expenditures
 needed to meet the provisions of any statutes, orders, rules or
 regulations of a Governmental Authority will be so burdensome as to
 have a Material Adverse Effect.

     (m)  FINANCIAL STATEMENTS; FINANCIAL CONDITION: ETC.
                                     52
        (i)  The (A) audited Consolidated balance sheets of the Credit
   Parties and their Subsidiaries as of December 31, 1998 and the
   related statements of income, stockholders' equity and cash flows
   for the Fiscal Year then ended and (B) unaudited Consolidated balance
   sheet of the Credit Parties and their Subsidiaries as of September
   30, 1999, and related unaudited interim statements of income,
   stockholders' equity and cash flows, copies of which have been
   furnished to the Administrative Agent and each Lender, have been
   prepared in accordance with GAAP (except as set forth in the notes
   thereto), are complete in all material respects and fairly present in
   all material respects the assets, liabilities and financial position
   of the Credit Parties and their Subsidiaries as at such dates, and
   the results of the operations and changes of financial position for
   the periods then ended, subject to normal year end adjustments.

        (ii)  As of the Closing Date, (A) the sum of the assets, at a
    fair valuation, of each Credit Party on a stand-alone basis and of
    the Credit Parties and their Subsidiaries taken as a whole will
    exceed its or their debts, respectively; (B) each Credit Party on a
    stand-alonebasis and the Credit Parties and their Subsidiaries taken
    as a whole has not incurred and does not intend to incur, and does
    not believe that it will incur, debts beyond its or their ability to
    pay such debts as such debts mature, respectively; and (C) each
    Credit Party on a stand-alone basis and the Credit Parties and their
    Subsidiaries taken as a whole will have sufficient capital with
    which to conduct its or their business, respectively.  For purposes
    of this Section, "debt" means any liability on a claim, and "claim"
    means (I) right to payment, whether or not such a right is reduced
    to judgment, liquidated, unliquidated, fixed, contingent, matured,
    unmatured, disputed, undisputed, legal, equitable, secured or
    unsecured or (II) right to an equitable remedy for breach of
    performance if such breach gives rise to a payment, whether or not
    such right to an equitable remedy is reduced to judgment, fixed,
    contingent, matured, unmatured, disputed, undisputed, secured or
    unsecured.  The amount of contingent liabilities at any time shall
    be computed as the amount that, in the light of all the facts and
    circumstances existing at such time, represents the amount that can
    reasonably be expected to become an actual or matured liability.

     (n)  NO MATERIAL ADVERSE CHANGE.  Since December 31, 1998, there
 has been no Material Adverse Effect.

     (o)  LIENS.  None of the properties and assets of the Credit
 Parties or any Subsidiary thereof is subject to any Lien, except Liens
 permitted pursuant to Section 9.2.

     (p)  DEBT AND SUPPORT OBLIGATIONS.  SCHEDULE 6.1(P) is a complete
 and correct listing of all Debt and Support Obligations of the Credit
<PAGE>
 Parties and their Subsidiaries as of the Closing Date in excess of
 $5,000,000.

     (q)  LITIGATION.  Except for matters existing on the Closing Date
 and set forth in the Current SEC Reports, there are no actions, suits
 or proceedings pending nor, to the knowledge of the Credit Parties,
 threatened against or affecting the Credit Parties or any Subsidiary
 thereof or any of their respective properties in any court or before
                                   53
 any arbitrator of any kind or before or by any Governmental Authority,
 which could reasonably be expected to have a Material Adverse Effect.

     (r)  ABSENCE OF DEFAULTS.  Since September 30, 1999, to the
 knowledge of the Borrower, no event has occurred and is continuing
 which constitutes a Default or an Event of Default.

     (s)  ABSENCE OF BANKRUPTCY EVENTS.  Since September 30, 1999, no
 event has occurred or is continuing which constitutes a Bankruptcy
 Event.

     (t)  ACCURACY AND COMPLETENESS OF INFORMATION.  As of the Closing
 Date, the Credit Parties have disclosed to the Lenders all agreements,
 instruments and corporate or other restrictions to which they or any of
 their Subsidiaries are subject, and all other matters known to them,
 other than general market, economic and industry conditions, that,
 individually or in the aggregate, could reasonably be expected to have
 a Material Adverse Effect.  The written information, taken as a whole,
 furnished by or on behalf of the Credit Parties to the Administrative
 Agent or any Lender in connection with the negotiation of this
 Agreement or delivered hereunder (as modified or supplemented by other
 information so furnished) does not contain any material misstatement of
 fact or omit to state any material fact necessary to make the
 statements therein, in the light of the circumstances under which they
 were made, not misleading; PROVIDED that, with respect to any projected
 financial information, the Credit Parties represent only that such
 information was prepared in good faith based upon assumptions believed
 to be reasonable at the time.

     (u)  YEAR 2000 COMPLIANCE.  The Credit Parties have (i) initiated a
 review and assessment of all areas within their and each of their
 Subsidiaries' material business and operations that could reasonably be
 expected to be adversely affected by the Year 2000 Problem, (ii)
 developed a plan, strategy or other approach for addressing the Year
 2000 Problem on a timely basis, and (iii) implemented that plan,
 strategy or other approach. Based on the foregoing and upon the Credit
 Parties' reliance on (i) any Year 2000 consulting services, study,
 report or any other information performed or provided by any Person
 other than the Credit Parties or any of their Subsidiaries and (ii) any
 certification or assurance of Year 2000 compliance provided by any
 vendor, supplier, servicer, manufacturer, customer or other provider of
 any hardware or software product or other computer applications
 installed at the Credit Parties or any of their Subsidiaries, the
 Credit Parties believe, as of the Closing Date, that all computer
 applications (including, limited to the Credit Parties' inquiries,
 those disclosed by their suppliers, vendors and customers) that are
 material to their or any of their Subsidiaries' business and operations
 are reasonably expected on a timely basis to be able to perform
 properly date-sensitive functions for all dates before and after
<PAGE>
 December 31, 1999 (that is, be "YEAR 2000 COMPLIANT"), except to the
 extent that a failure to do so could not reasonably be expected to have
 a Material Adverse Effect.

     (v)  PROPERTY.  The Credit Parties and their Subsidiaries have good
 and marketable title to all material properties owned by them and valid
 leasehold interests in all material properties leased by them,
 including all property reflected in the Current SEC Reports and in the
 balance sheets referred to in Section 6.l(m)(i) (except as sold or
 otherwise
                                   54
 disposed of since the date of such balance sheet in the ordinary course
 of business or as permitted by the terms of this Agreement), free and
 clear of all Liens, except Liens permitted pursuant to Section 9.2.

     (w)  LABOR PRACTICES.  Neither the Credit Parties nor any of their
 Subsidiaries is engaged in any unfair labor practices that could
 reasonably be expected to have a Material Adverse Effect.  There is (i)
 no unfair labor practice complaint pending against any Credit Party or
 any of their Subsidiaries or, to the knowledge of the Credit Parties,
 threatened against the Credit Parties or any of their Subsidiaries,
 before the National Labor Relations Board, and no grievance or
 arbitration proceeding arising out of or under any collective
 bargaining agreement is so pending against the Credit Parties or any of
 their Subsidiaries or, to the knowledge of the Credit Parties,
 threatened against the Credit Parties or any of their Subsidiaries,
 (ii) no strike, labor dispute, slowdown or stoppage pending against the
 Credit Parties or any of their Subsidiaries or, to the knowledge of the
 Credit Parties, threatened against the Credit Parties or any of their
 Subsidiaries and (iii) no union representation question exists with
 respect to the employees of the Credit Parties or any of their
 Subsidiaries except (with respect to any matter specified in clause
 (i), (ii) or (iii) above, either individually or in the aggregate) such
 as could not reasonably be expected to have a Material Adverse Effect.

     (x)  SEC REPORTS.  During the preceding three (3) Fiscal Years, the
 Borrower and its Subsidiaries have filed all forms, reports, statements
 (including proxy statements) and other documents (such filings by the
 Credit Parties and their Subsidiaries are collectively referred to as
 the "SEC REPORTS"), required to be filed by it with the Securities and
 Exchange Commission.  The SEC Reports (i) were prepared in all material
 respects in accordance with the requirements of the Securities Act of
 1933, as amended, and the Securities Exchange Act of 1934, as amended,
 as the case may be, and the rules and regulations of the Securities
 Exchange Commission thereunder applicable to such SEC Reports at the
 time of filing thereof and (ii) did not at the time they were filed
 contain any untrue statement of a material fact or omit to state a
 material fact required to be stated therein or necessary in order to
 make the statements therein, in the light of the circumstances under
 which they were made, not misleading, which untrue statement or
 omission was not corrected in a subsequent SEC Report.

     SECTION 6.2    SURVIVAL OF REPRESENTATIONS AND WARRANTIES, ETC.

     All representations and warranties set forth in this Article VI and
 all representations and warranties contained in any certificate related
 hereto, or any of the Loan Documents (including but not limited to any
 such representation or warranty made in or in connection with any
<PAGE>
 amendment thereto) shall constitute representations and warranties made
 under this Agreement.  All representations and warranties made under
 this Agreement shall be made or deemed to be made at and as of the
 Closing Date, shall survive the Closing Date and shall not be waived by
 the execution and delivery of this Agreement, any investigation made by
 or on behalf of the Lenders or any borrowing hereunder.
                                   55

                          ARTICLE VII

               FINANCIAL INFORMATION AND NOTICES

      Until all the Obligations (other than Obligations under Hedging
 Agreements) have been paid and satisfied in full and the later of the
 364 Day Facility Termination Date or the Five Year Facility Termination
 Date, unless consent has been obtained in the manner set forth in
 Section 13.10 hereof, the Credit Parties will furnish or cause to be
 furnished to the Administrative Agent and to the Lenders at their
 respective addresses as set forth in Section 13.1 and on SCHEDULE 13.1,
 or such other office as may be designated by the Administrative Agent
 and Lenders from time to time:

     SECTION 7.1    FINANCIAL STATEMENTS, ETC.

     (a)  QUARTERLY FINANCIAL STATEMENTS.  As soon as practicable and in
 any event within sixty (60) days after the end of each of the first
 three fiscal quarters of each Fiscal Year, either (i) a copy of a
 report on Form 10-Q, or any successor form, and any amendments
 thereto, filed by the Borrower with the Securities and Exchange
 Commission with respect to the immediately preceding fiscal quarter or
 (ii) an unaudited Consolidated balance sheet of the Borrower and its
 Subsidiaries as of the close of such fiscal quarter and unaudited
 Consolidated statements of income, stockholders' equity and cash flows
 for the fiscal quarter then ended and that portion of the Fiscal Year
 then ended, including the notes thereto, all in reasonable detail
 setting forth in comparative form the corresponding figures for the
 corresponding period or periods of (or, in the case of the balance
 sheet, as of the end of) the preceding Fiscal Year and prepared by the
 Borrower in accordance with GAAP and, if applicable, containing
 disclosure of the effect on the financial position or results of
 operations of any change in the application of accounting principles
 and practices during the period, and certified by a Responsible Officer
 of the Borrower to present fairly in all material respects the
 financial condition of the Borrower and its Subsidiaries as of their
 respective dates and the results of operations of the Borrower and its
 Subsidiaries for the respective periods then ended, subject to normal
 year end adjustments.

     (b)  ANNUAL FINANCIAL STATEMENTS.  As soon as practicable and in
 any event within one hundred twenty (120) days after the end of each
 Fiscal Year, either (i) a copy of a report on Form 10-K, or any
 successor form, and any amendments thereto, filed by the Borrower with
 the Securities and Exchange Commission with respect to the immediately
 preceding Fiscal Year or (ii) an audited Consolidated balance sheet of
 the Borrower and its Subsidiaries as of the close of such Fiscal Year
 and audited Consolidated statements of income, stockholders' equity and
 cash flows for the Fiscal Year then ended, including the notes thereto,
 all in reasonable detail setting forth in comparative form the
<PAGE>
 corresponding figures for the preceding Fiscal Year and prepared by a
 nationally recognized independent certified public accounting firm
 acceptable to the Administrative Agent in accordance with GAAP and, if
 applicable, 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 accompanied by
 a report thereon by such certified public accountants 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 the Borrower or any of its Subsidiaries not in accordance
 with GAAP.
                                   56
     (c)  ANNUAL BUDGETS.  As soon as practicable and in any event
 within sixty (60) days after the end of each Fiscal Year, an annual
 business plan and budget of the Borrower and its Subsidiaries for the
 Fiscal Year immediately following such Fiscal Year end, containing
 among other things projections of pro forma financial statements for
 such fiscal year.

     SECTION 7.2    OFFICER'S COMPLIANCE CERTIFICATE.

     At each time financial statements are delivered pursuant to Section
 7.1(a) or (b) a certificate of a Responsible Officer of the Borrower in
 the form of EXHIBIT G attached hereto (an "OFFICER'S COMPLIANCE
 CERTIFICATE") including the calculations prepared by such Responsible
 Officer required to establish whether or not the Credit Parties and
 their Subsidiaries are in compliance with the financial covenants set
 forth in Section 9.1 hereof as at the end of each respective period.

     SECTION 7.3    ACCOUNTANTS' CERTIFICATE.

     At each time financial statements are delivered pursuant to Section
 7.1(b), a certificate of the independent public accountants certifying
 such financial statements addressed to the Administrative Agent for the
 benefit of the Lenders stating that in making the examination necessary
 for the certification of such financial statements, they obtained no
 knowledge of any Default or Event of Default or, if such is not the
 case, specifying such Default or Event of Default and its nature and
 period of existence.

     SECTION 7.4    OTHER REPORTS.

     (a)  Promptly after the filing thereof, a copy of (i) each report
 or other filing made by any of the Credit Parties or any or their
 Subsidiaries with the Securities and Exchange Commission and required
 by the Securities and Exchange Commission to be delivered to the
 shareholders of the Credit Parties or any or their Subsidiaries, (ii)
 each report made by the Credit Parties or any of their Subsidiaries to
 the Securities and Exchange Commission on Form 8-K and (iii) each final
 registration statement of the Credit Parties or any of their
 Subsidiaries filed with the Securities and Exchange Commission, except
 in connection with pension plans and other employee benefit plans; and

     (b)  Such other information regarding the operations, business
 affairs and financial condition of the Credit Parties or any of their
 Subsidiaries relating to the ability of the Credit Parties or any of
 their Subsidiaries to perform their obligations under the Loan
 Documents as the Administrative Agent or any Lender may reasonably
<PAGE>
 request.

     SECTION 7.5    NOTICE OF LITIGATION AND OTHER MATTERS.

     Prompt (but in no event later than three (3) Business Days after an
 executive officer of any of the Credit Parties obtains knowledge
 thereof) telephonic (confirmed in writing) or written notice of:
                                   57
     (a)  the commencement of all proceedings and investigations by or
 before any Governmental Authority and all actions and proceedings in
 any court or before any arbitrator against or involving any of the
 Credit Parties or any Subsidiary thereof or any of their respective
 properties, assets or businesses (i) which in the reasonable judgment
 of the Credit Parties could reasonably be expected to have a Material
 Adverse Effect, (ii) with respect to any material Debt of the Credit
 Parties or any of their Subsidiaries or (iii) with respect to any Loan
 Document;

     (b)  any notice of any violation received by any of the Credit
 Parties or any Subsidiary thereof from any Governmental Authority
 including, without limitation, any notice of violation of Environmental
 Laws, which in the reasonable judgment of the Credit Parties in any
 such case could reasonably be expected to have a Material Adverse
 Effect;

     (c)  (i)  any unfavorable determination letter from the Internal
 Revenue Service regarding the qualification of an Employee Benefit Plan
 under Section 401(a) of the Code (along with a copy thereof) which
 could reasonably be expected to have a Material Adverse Effect, (ii)
 all notices received by any of the Credit Parties or any ERISA
 Affiliate of the PBGC's intent to terminate any Pension Plan or to have
 a trustee appointed to administer any Pension Plan, (iii) all notices
 received by any of the Credit Parties or any ERISA Affiliate from a
 Multiemployer Plan sponsor concerning the imposition or amount of
 withdrawal liability pursuant to Section 4202 of ERISA which could
 reasonably be expected to have a Material Adverse Effect, (iv) the
 Credit Parties obtaining knowledge or reason to know that the Credit
 Parties or any ERISA Affiliate has filed or intends to file a notice of
 intent to terminate any Pension Plan under a distress termination
 within the meaning of Section 4041(c) of ERISA and (v) the occurrence
 of a Reportable Event;

     (d)  the occurrence of any event which constitutes, or which could
 reasonably be expected to result in, a Default or an Event of Default;
 and

     (e)  the occurrence of any event which constitutes, or which could
 reasonably be expected to result in, a Material Adverse Effect.

     SECTION 7.6    ACCURACY OF INFORMATION.

     All written information, reports, statements and other papers and
 data furnished by or on behalf of the Credit Parties to the
 Administrative Agent or any Lender (other than financial forecasts)
 whether pursuant to this Article VII or any other provision of this
 Agreement, shall be, at the time the same is so furnished, true and
 complete in all material respects.
<PAGE>
                          ARTICLE VIII
                     AFFIRMATIVE COVENANTS

      Until all of the Obligations (other than any Obligations under any
 Hedging Agreement) have been paid and satisfied in full and the 364 Day
 Facility Commitment and the Five Year Facility Commitment have expired
 or been terminated, unless consent has been obtained in the manner
 provided
                                   58
 for in Section 13.l0, the Credit Parties will, and will cause each of
 their respective Subsidiaries to:

     SECTION 8.1    PRESERVATION OF CORPORATE EXISTENCE AND RELATED
 MATTERS.

     Except as permitted by Section 9.3, preserve and maintain its
 separate corporate existence and all rights, franchises, licenses and
 privileges necessary to the conduct of its business, and qualify and
 remain qualified as a foreign corporation and authorized to do business
 in each jurisdiction where the nature and scope of its activities
 require it to so qualify under Applicable Law, except where the failure
 to so preserve and maintain its existence and rights or to so qualify
 would not have a Material Adverse Effect.

     SECTION 8.2    MAINTENANCE OF PROPERTY.

     Protect and preserve all properties useful in and material to its
 business, including copyrights, patents, trade names and trademarks;
 maintain in good working order and condition all buildings, equipment
 and other tangible real and personal property material to the conduct
 of its business, ordinary wear and tear excepted; and from time to time
 make or cause to be made all renewals, replacements and additions to
 such property necessary for the conduct of its business, so that the
 business carried on in connection therewith may be properly and
 advantageously conducted at all times, except, in each case, where the
 failure to do so would not have a Material Adverse Effect.

     SECTION 8.3    INSURANCE.

     Maintain insurance with financially sound and reputable insurance
 companies against such risks and in such amounts as are consistent with
 past practices and prudent business practice (and in any event
 consistent with normal industry practice), and as may be required by
 Applicable Law.

     SECTION 8.4    ACCOUNTING METHODS AND FINANCIAL RECORDS.

     Maintain a system of accounting, and keep such books, records and
 accounts (which shall be true and complete in all material respects) as
 may be required or as may be necessary to permit the preparation of
 financial statements in accordance with GAAP and in compliance with the
 regulations of any Governmental Authority having jurisdiction over it
 or any of its properties.

     SECTION 8.5    PAYMENT AND PERFORMANCE OF OBLIGATIONS.

     (a)  Pay and perform all Obligations under this Agreement and the
 other Loan Documents.
<PAGE>
     (b)  Pay and discharge (i) all material taxes, assessments and
 governmental charges or levies imposed upon it or upon its income or
 profits, or upon any properties belonging to it, prior to the date on
 which penalties attach thereto, and (ii) all other material
 indebtedness, obligations and liabilities in accordance with customary
 trade practices;
                                   59
 PROVIDED that the Credit Parties or such Subsidiary may contest any
 item described in clause (i) or (ii) of this Section 8.5(b) in good
 faith and by proper proceedings so long as adequate reserves are
 maintained with respect thereto to the extent required by GAAP.

     (c)  Perform all of its obligations under the terms of each
 mortgage, indenture, security agreement, loan agreement or credit
 agreement and each other agreement, contract or instrument by which it
 is bound, except where such non-performances as could not, individually
 or in the aggregate, reasonably be expected to have a Material Adverse
 Effect.

     SECTION 8.6    COMPLIANCE WITH LAWS AND APPROVALS.
     Observe and remain in compliance with all Applicable Laws and
 maintain in full force and effect all Governmental Approvals, in each
 case applicable to the conduct of its business, except where the
 failure to observe or comply could not reasonably be expected to have a
 Material Adverse Effect.

     SECTION 8.7    ENVIRONMENTAL LAWS.

     In addition to and without limiting the generality of Section 8.6,
 (a) comply with, and use best efforts to ensure such compliance by all
 tenants and subtenants with all applicable Environmental Laws and
 obtain and comply with and maintain, and ensure that all tenants and
 subtenants obtain and comply with and maintain, any and all licenses,
 approvals, notifications, registrations or permits required by
 applicable Environmental Laws, except where the failure to comply could
 not reasonably be expected to have a Material Adverse Effect, (b)
 conduct and complete all investigations, studies, sampling and testing,
 and all remedial, removal and other actions required under
 Environmental Laws, and promptly comply with all lawful orders and
 directives of any Governmental Authority regarding Environmental Laws,
 except (i) where the failure to do so could not reasonably be expected
 to have a Material Adverse Effect or (ii) to the extent the Credit
 Parties or any of their Subsidiaries are contesting, in good faith, any
 such requirement, order or directive before the appropriate
 Governmental Authority so long as adequate reserves are maintained with
 respect thereto to the extent required by GAAP, and (c) defend,
 indemnify and hold harmless the Administrative Agent and the Lenders,
 and their respective parents, Subsidiaries, Affiliates, employees,
 agents, officers and directors, from and against any claims, demands,
 penalties, fines, liabilities, settlements, damages, costs and expenses
 of whatever kind or nature known or unknown, contingent or otherwise,
 arising out of, or in any way relating to the violation of,
 noncompliance with or liability under any Environmental Laws applicable
 to the operations or properties of the Credit Parties or such
 Subsidiaries, or any orders, requirements or demands of Governmental
 Authorities related thereto, including, without limitation, reasonable
 attorney's and consultant's fees, investigation and laboratory fees,
 response costs, court costs and litigation expenses,
<PAGE>
 except to the extent that any of the foregoing directly result from the
 gross negligence or willful misconduct of the party seeking
 indemnification therefor.
                                   60
     SECTION 8.8    COMPLIANCE WITH ERISA.

     In addition to and without limiting the generality of Section 8.6,
 (a) comply with all applicable provisions of ERISA and the Code and the
 regulations and published interpretations thereunder with respect to
 all Employee Benefit Plans, except where the failure to so comply could
 not reasonably be expected to have a Material Adverse Effect, (b) not
 take any action or fail to take action the result of which would result
 in a liability to the PBGC or to a Multiemployer Plan in an amount that
 could reasonably be expected to have a Material Adverse Effect, and (c)
 furnish to the Administrative Agent upon the Administrative Agent's
 request such additional information about any Employee Benefit Plan
 concerning compliance with this covenant as may be reasonably requested
 by the Administrative Agent.

     SECTION 8.9    CONDUCT OF BUSINESS.

     Maintain substantially all of its businesses in substantially the
 same fields as the businesses conducted on the Closing Date and in
 lines of business reasonably related thereto or as otherwise permitted
 pursuant to the terms of this Agreement.

     SECTION 8.10   VISITS AND INSPECTIONS.

     Permit representatives of the Administrative Agent or any Lender,
 from time to time upon reasonable prior notice and during ordinary
 business hours, to visit and inspect its properties; if a Default or an
 Event of Default exists, inspect and make extracts from its books,
 records and files, including, but not limited to, management letters
 prepared by independent accountants; and discuss with its principal
 officers, and its independent accountants, its business, assets,
 liabilities, financial condition, results of operations and business
 prospects.

     SECTION 8.11   USE OF PROCEEDS.

     Use the proceeds of the Extensions of Credit for the purposes set
 forth in Section 2.1(b).

     SECTION 8.12   YEAR 2000 COMPATIBILITY.

     Take all actions reasonably necessary to assure that the Credit
 Parties' computer based systems (which if not functional would have a
 Material Adverse Effect) are able to operate and effectively process
 data in a manner that is Year 2000 compliant (as defined in Section
 6.1(u)).  At the request of the Administrative Agent or any Lender, the
 Credit Parties shall provide information to the Administrative Agent
 concerning the Credit Parties' Year 2000 compliance.

     SECTION 8.13   ADDITIONAL CREDIT PARTIES.

     As soon as practicable and in any event within 30 days after any
<PAGE>
 Person becomes a Subsidiary of the Borrower, the Borrower shall provide
 the Administrative Agent with written notice thereof setting forth
 information in reasonable detail describing the ownership of such
 Person and shall (a) if such Person is a Material Subsidiary of the
 Borrower, cause such Person to execute a Guarantor Joinder Agreement in
 substantially the same form as EXHIBIT E, and (b) cause such Person
                                   61
 to deliver such other documentation as the Administrative Agent may
 reasonably request in connection with the foregoing, including, without
 limitation, certified resolutions and other organizational and
 authorizing documents of such Person, favorable opinions of counsel to
 such Person (which shall cover, among other things, the legality,
 validity, binding effect and enforceability of the documentation
 referred to above) and other items of the types required to be
 delivered pursuant to Section 5.2(b), all in form, content and scope
 reasonably satisfactory to the Administrative Agent.

                           ARTICLE IX

                       NEGATIVE COVENANTS

      Until all of the Obligations (other than any Obligations under any
 Hedging Agreement) have been paid and satisfied in full and the 364 Day
 Facility Commitment and the Five Year Facility Commitment have expired
 or been terminated unless consent has been obtained in the manner set
 forth in Section 13.10:

     SECTION 9.1    FINANCIAL COVENANTS.

     (a)  MAXIMUM FUNDED DEBT/CAPITALIZATION RATIO.  As of the end of
 each fiscal quarter, commencing with the end of the first fiscal
 quarter ending after the Closing Date, the Credit Parties will not
 permit the Funded Debt/Capitalization Ratio to be greater than 60%.

     (b)  MINIMUM INTEREST COVERAGE RATIO.  As of the end of each fiscal
 quarter, commencing with the end of the first fiscal quarter ending
 after the Closing Date, the Credit Parties will not permit the Interest
 Coverage Ratio to be less than 3.00 to 1.00.

     (c)  MINIMUM NET WORTH.  At all times after the Closing Date, the
 Credit Parties will not permit the Consolidated Net Worth to be less
 than $300,000,000 PLUS, as of the end of each fiscal quarter,
 commencing with the end of the first fiscal quarter ending after the
 Closing Date, 25% of Consolidated Net Income for the fiscal quarter
 then ended, such increases to be cumulative.

     SECTION 9.2    LIMITATIONS ON LIENS.

     The Credit Parties will not, and will not permit any of their
 Subsidiaries to, create, incur, assume or suffer to exist any Lien on,
 or with respect to, any of their assets or properties (including
 without limitation shares of capital stock or other ownership
 interests), real or personal, whether now owned or hereafter acquired,
 except:

     (a)  Liens existing on the Closing Date and set forth on SCHEDULE
<PAGE>
 9.2;

     (b)  Liens for taxes, assessments and other governmental charges or
 levies not yet due or as to which the period of grace, if any, related
 thereto has not expired or which are being contested in good faith and
 by
                                   62
 appropriate proceedingsif adequate reserves are maintained to the
 extent required by GAAP;

     (c)  The claims of materialmen, mechanics, carriers, warehousemen,
 processors or landlords for labor, materials, supplies or rentals
 incurred in the ordinary course of business, (i) which are not overdue
 for a period of more than thirty (30) days or (ii) which are being
 contested in good faith and by appropriate proceedings if adequate
 reserves are maintained to the extent required by GAAP;

     (d)  Liens consisting of deposits or pledges made in the ordinary
 course of business (i) in connection with, or to secure payment of,
 obligations under workers' compensation, unemployment insurance or
 similar legislation or obligations under customer service contracts, or
 (ii) to secure (or to obtain letters of credit that secure) the
 performance of tenders, statutory obligations, surety bonds, appeal
 bonds, bids, leases (other than Capital Leases), performance bonds,
 purchase, construction or sales contracts and other similar
 obligations, in each case not incurred or made in connection with the
 borrowing of money, the obtaining of advances or credit or the payment
 of the deferred purchase price of property;

     (e)  Liens constituting encumbrances in the nature of zoning
 restrictions, easements and rights or restrictions of record on the use
 of real property, which in the aggregate are not substantial in amount
 and which do not, in any case, detract from the value of any material
 parcel of real property or impair the use thereof in the ordinary
 conduct of business;

     (f)  Liens in favor of the Administrative Agent for the benefit of
 the Administrative Agent and the Lenders;

     (g)  Liens on the property or assets of any Subsidiary existing at
 the time such Subsidiary becomes a Subsidiary of a Credit Party and not
 incurred in contemplation thereof, as long as the outstanding principal
 amount of the Debt secured thereby is not voluntarily increased by such
 Subsidiary after the date such Subsidiary becomes a Subsidiary of such
 Credit Party;

     (h)  Liens on the property or assets of the Credit Parties or any
 Subsidiary securing Debt which is incurred to finance the acquisition
 of such property or assets, PROVIDED that (i) each such Lien shall be
 created substantially simultaneously with the acquisition of the
 related property or assets; (ii) each such Lien does not at any time
 encumber any property other than the related property or assets
 financed by such Debt; (iii) the principal amount of Debt secured by
 each such Lien is not increased; and (iv) the principal amount of Debt
 secured by each such Lien shall at no time exceed 100% of the original
 purchase price of such related property or assets at the time acquired;
<PAGE>
     (i)  Liens consisting of judgment or judicial attachment Liens,
 provided that (i) the claims giving rise to such Liens are being
 diligently contested in good faith by appropriate proceedings, (ii)
 adequate reserves for the obligations secured by such Liens have been
 established and (iii) enforcement of such Liens has been stayed;
                                   63
     (j)  Liens on property or assets of the Borrower or any Subsidiary
 securing Indebtedness owing to the Borrower or any other Credit Party;
 and

     (k)  Liens not otherwise permitted by this Section 9.2 securing
 Debt not in excess of fifteen percent (15%) of Consolidated Total
 Assets in the aggregate at any time outstanding.

     SECTION 9.3    LIMITATIONS ON MERGERS AND LIQUIDATION.

     None of the Credit Parties will, or will permit any of its
 Subsidiaries to, merge, consolidate or enter into any similar
 combination with any other Person or liquidate, wind-up or dissolve
 itself (or suffer any liquidation or dissolution), except:

     (a)  Any Credit Party or a Subsidiary may merge with another
 Person, PROVIDED that (i) such Person is organized under the law of the
 United States or one of its states, (ii) such Credit Party or the
 Subsidiary, as the case may be, is the corporation surviving such
 merger, (iii) immediately prior to and after giving effect to such
 merger, no Default or Event of Default exists or would exist and (iv)
 the Board of Directors of such Person has approved such merger;

     (b)  Any Wholly-Owned Subsidiary of a Credit Party may merge into a
 Credit Party or any other Wholly-Owned Subsidiary of a Credit Party;
 and

     (c)  Any Wholly-Owned Subsidiary of a Credit Party may liquidate,
 wind-up or dissolve itself into a Credit Party or any other
 Wholly-Owned Subsidiary of a Credit Party.

     SECTION 9.4    LIMITATIONS ON SALE OR TRANSFER OF ASSETS.

     The Credit Parties will not, and will not permit any of their
 Subsidiaries to, convey, sell, lease, assign, transfer or otherwise
 dispose of:

     (a)  (i) More than 20% of Consolidated Total Assets during any
 Fiscal Year measured as of the last day of the immediately preceding
 Fiscal Year or (ii) more than 50% of Consolidated Total Assets measured
 as of September 30, 1999 during the term of this Agreement;

     (b)  Any of their property, business or assets if such transaction
 would reasonably be expected to have a Material Adverse Effect; or

     (c)  Any of their property, business or assets if immediately prior
 to or after giving effect to such transaction a Default or an Event of
 Default exists or would exist.

     SECTION 9.5    PROHIBITIONS ON LIMITATIONS ON DIVIDENDS AND
 DISTRIBUTIONS.
<PAGE>
     The Credit Parties will not permit any Subsidiary to agree to,
 incur, assume or suffer to exist any restriction, limitation or other
 encumbrance (by covenant or otherwise) on the ability of such
 Subsidiary to make any payment to a Credit Party or any of its
 Subsidiaries (in the form of dividends, intercompany advances or
 otherwise), except:
                                   64
     (a)  Restrictions and limitations existing on the Closing Date and
 described on SCHEDULE 9.5;

     (b)  Restrictions and limitations applicable to a Subsidiary
 existing at the time such Subsidiary becomes a Subsidiary of a Credit
 Party and not incurred in contemplation thereof, as long as no such
 restriction or limitation is made more restrictive after the date
 such Subsidiary becomes a Subsidiary of such Credit Party; and

     (c)  Other restrictions and limitations that are not material
 either individually or in the aggregate.

     SECTION 9.6    TRANSACTIONS WITH AFFILIATES.
     The Credit Parties will not, and will not permit any of their
 Subsidiaries to, directly or indirectly (a) make any loan or advance
 to, or purchase or assume any note or other obligation to or from, any
 of its officers, directors, shareholders or Affiliates, or to or from
 any member of the immediate family of any of its officers, directors,
 shareholders or Affiliates, other than (i) loans or advances to
 customers of the Credit Parties and their Subsidiaries in the ordinary
 course of business which are arm's length, (ii) loans or advances from
 a Credit Party to another Credit Party, and (iii) any other loan or
 advance or assumption that would not cause the aggregate amount of all
 such loans and advances and assumed notes and advances to exceed
 $5,000,000, (b) enter into, or be a party to, any subcontract of any
 operations or other transaction with any of its Affiliates, except
 pursuant to the reasonable requirements of its business and upon fair
 and reasonable terms that are no less favorable to it than it would
 obtain in a comparable arm's length transaction with a Person not its
 Affiliate and except for transactions which are not material either
 individually or in the aggregate.  Nothing contained in this Section
 9.6 shall prohibit the Credit Parties or any of their Subsidiaries that
 have obtained an ownership interest in a customer in connection with a
 loan or credit workout to provide non-standard payment or other terms
 to such customer or otherwise to do business with such customer in the
 ordinary course of business.

     SECTION 9.7    CERTAIN ACCOUNTING CHANGES.

     The Credit Parties will not (a) change their Fiscal Year ends in
 order to avoid a Default or an Event of Default or if a Material
 Adverse Effect would result therefrom or (b) make any material change
 in their accounting treatment and reporting practices except as
 required by GAAP.

     SECTION 9.8    LIMITATIONS ON ACQUISITIONS.

     The Credit Parties will not, and will not permit any of their
 Subsidiaries to, acquire all or any portion of the capital stock or
 other ownership interest in any Person which is not a Subsidiary or all
 or any substantial portion of the assets, property and/or operations of
<PAGE>
 a Person which is not a Subsidiary, UNLESS (a) the Person, assets,
 property and/or operations being acquired engage in or are engaged in
 the same line of business as that engaged in by the Borrower and its
 Subsidiaries on the Closing Date or a business reasonably related
 thereto, (b) in the case of
                                   65
 an acquisition of capital stock or other ownership interest of a
 Person, the Board of Directors of the Person which is the subject of
 such acquisition shall have approved the acquisition and (c) after
 giving effect to such acquisition, no Default or Event of Default would
 exist.

     SECTION 9.9    SALE LEASEBACK TRANSACTIONS.

     The Credit Parties will not, and will not permit any of their
 Subsidiaries to, sell or transfer any material property or assets to
 anyone (other than the Borrower or a Wholly-Owned Subsidiary of the
 Borrower) with the intention of taking back a lease of such property or
 assets or any similar property or assets, except in connection with a
 lease for a temporary period during or at the end of which it is
 intended that the use by such Credit Party or its Subsidiary of such
 property or assets will be discontinued.

                           ARTICLE X

                            GUARANTY

     SECTION 10.1   GUARANTY OF PAYMENT.

     Subject to Section 10.7 below, each Guarantor hereby
 unconditionally guarantees to each Lender and the Administrative Agent
 the prompt payment of the Guaranteed Obligations in full when due
 (whether at stated maturity, as a mandatory prepayment, by acceleration
 or otherwise). This guaranty is a guaranty of payment and not solely of
 collection and is a continuing guaranty and shall apply to all
 Guaranteed Obligations whenever arising.

     SECTION 10.2   OBLIGATIONS UNCONDITIONAL.

     The obligations of the Guarantors hereunder are absolute and
 unconditional, irrespective of the value, genuineness, validity,
 regularity or enforceability of this Agreement, or any other agreement
 or instrument referred to herein, to the fullest extent permitted by
 Applicable Law, irrespective of any other circumstance whatsoever which
 might otherwise constitute a legal or equitable discharge or defense of
 a surety or guarantor.  Each Guarantor agrees that this guaranty may be
 enforced by the Lenders without the necessity at any time of resorting
 to or exhausting any security or collateral and without the necessity
 at any time of having recourse to the Notes, this Agreement or any
 other Loan Document or any collateral, if any, hereafter securing the
 Guaranteed Obligations or otherwise and each Guarantor hereby waives
 the right to require the Lenders to proceed against any other Guarantor
 or any other Person (including a co-guarantor) or to require the
 Lenders to pursue any other remedy or enforce any other right.  Each
 Guarantor further agrees
                                   66
 that it shall have no right of subrogation, indemnity, reimbursement or
 contribution against any other Guarantor (or any other guarantor of the
<PAGE>
 Guaranteed Obligations) for amounts paid under this guaranty until such
 time as the Lenders have been paid in full, all commitments under this
 Agreement have been terminated and no Person or Governmental Authority
 shall have any right to request any return or reimbursement of funds
 from the Lenders in connection with monies received under this
 Agreement.  Each Guarantor further agrees that nothing contained herein
 shall prevent the Lenders from suing on the Notes, this Agreement or
 any other Loan Document or foreclosing its security interest in or Lien
 on any collateral, if any, securing the Guaranteed Obligations or from
 exercising any other rights available to it under this Agreement, the
 Notes, or any other instrument of security, if any, and the exercise of
 any of the aforesaid rights and the completion of any foreclosure
 proceedings shall not constitute a discharge of any Guarantor's
 obligations hereunder; it being the purpose and intent of each
 Guarantor that its obligations hereunder shall be absolute, independent
 and unconditional under any and all circumstances.  Neither a
 Guarantor's obligations under this guaranty nor any remedy for the
 enforcement thereof shall be impaired, modified, changed or released in
 any manner whatsoever by an impairment, modification, change, release
 or limitation of the liability of any other Guarantor or by reason of
 the bankruptcy or insolvency of such other Guarantor.  Each Guarantor
 waives any and all notice of the creation, renewal, extension or
 accrual of any of the Guaranteed Obligations and notice of or proof of
 reliance of by the Administrative Agent or any Lender upon this
 guaranty or acceptance of this guaranty.  The Guaranteed Obligations,
 and any of them, shall conclusively be deemed to have been created,
 contracted or incurred, or renewed, extended, amended or waived, in
 reliance upon this guaranty. All dealings between the Borrower and the
 Guarantors, on the one hand, and the Administrative Agent and the
 Lenders, on the other hand, likewise shall be conclusively presumed to
 have been had or consummated in reliance upon this guaranty.

     SECTION 10.3   MODIFICATIONS.

     Each Guarantor agrees that (a) all or any part of the security
 which hereafter may be held for the Guaranteed Obligations, if any, may
 be exchanged, compromised or surrendered from time to time; (b) the
 Lenders shall not have any obligation to protect, perfect, secure or
 insure any such security interests, liens or encumbrances which
 hereafter may be held, if any, for the Guaranteed Obligations or the
 properties subject thereto; (c) the time or place of payment of the
 Guaranteed Obligations may be changed or extended, in whole or in part,
 to a time certain or otherwise, and may be renewed or accelerated, in
 whole or in part; (d) the Borrower and any other party liable for
 payment under this Agreement may be granted indulgences generally; (e)
 any of the provisions of the Notes, this Agreement or any other Loan
 Document may be modified, amended or waived; (f) any party (including
 any co-guarantor) liable for the payment thereof may be granted
 indulgences or be released; and (g) any deposit balance for the credit
 of the Borrower or any other party liable for the payment of the
 Guaranteed Obligations or liable upon any security therefor may be
 released, in whole or in part, at, before or after the stated, extended
 or accelerated maturity of the Guaranteed Obligations, all without
 notice to or further assent by such Guarantor, which shall remain bound
 thereon, notwithstanding any such exchange, compromise, surrender,
 extension, renewal, acceleration, modification, indulgence or release.
<PAGE>
     SECTION 10.4   WAIVER OF RIGHTS.

     Each Guarantor expressly waives to the fullest extent permitted by
 applicable law: (a) notice of acceptance of this guaranty by the
 Lenders and of all Extensions of Credit to the Borrower by the Lenders;
 (b) presentment and demand for payment or performance of any of the
 Guaranteed Obligations; (c) protest and notice of dishonor or of
 default
                                   67
 (except as specifically required in this Agreement) with respect to the
 Guaranteed Obligations or with respect to any security therefor; (d)
 notice of the Lenders obtaining, amending, substituting for, releasing,
 waiving or modifying any Lien, if any, hereafter securing the
 Guaranteed Obligations, or the Lenders' subordinating, compromising,
 discharging or releasing such Liens, if any; (e) all other notices to
 which the Borrower might otherwise be entitled in connection with the
 guaranty evidenced by this Article X; and (f) demand for payment under
 this guaranty.

     SECTION 10.5   REINSTATEMENT.

     The obligations of each Guarantor under this Article X shall be
 automatically reinstated if and to the extent that for any reason any
 payment by or on behalf of any Person in respect of the Guaranteed
 Obligations is rescinded or must be otherwise restored by any holder of
 any of the Guaranteed Obligations, whether as a result of any
 proceedings in bankruptcy or reorganization or otherwise, and each
 Guarantor agrees that it will indemnify the Administrative Agent and
 each Lender on demand for all reasonable costs and expenses (including,
 without limitation, reasonable fees and expenses of counsel) incurred
 by the Administrative Agent or such Lender in connection with such
 rescission or restoration, including any such costs and expenses
 incurred in defending against any claim alleging that such payment
 constituted a preference, fraudulent transfer or similar payment under
 any bankruptcy, insolvency or similar law.

     SECTION 10.6   REMEDIES.

     Each Guarantor agrees that, as between such Guarantor, on the one
 hand, and the Administrative Agent and the Lenders, on the other hand,
 the Guaranteed Obligations may be declared to be forthwith due and
 payable as provided in Section 11.2 (and shall be deemed to have become
 automatically due and payable in the circumstances provided in Section
 11.2) notwithstanding any stay, injunction or other prohibition
 preventing such declaration (or preventing such Guaranteed Obligations
 from becoming automatically due and payable) as against any other
 Person and that, in the event of such declaration (or such Guaranteed
 Obligations being deemed to have become automatically due and payable),
 such Guaranteed Obligations (whether or not due and payable by any
 other Person) shall forthwith become due and payable by such Guarantor.

     SECTION 10.7   LIMITATION OF GUARANTY.

     Notwithstanding any provision to the contrary contained herein, to
 the extent the obligations of a Guarantor shall be adjudicated to be
 invalid or unenforceable for any reason (including, without limitation,
 because of any applicable state or federal law relating to fraudulent
 conveyances or transfers) then the obligations of such Guarantor
<PAGE>
 hereunder shall be limited to the maximum amount that is permissible
 under Applicable Law (whether federal or state and including, without
 limitation, the Federal Bankruptcy Code (as now or hereinafter in
 effect)).
                                   68

                           ARTICLE XI

                      DEFAULT AND REMEDIES

     SECTION 11.1   EVENTS OF DEFAULT.

     Each of the following shall constitute an Event of Default,
 whatever the reason for such event and whether it shall be voluntary or
 involuntary or be effected by operation of law or pursuant to any
 judgment or order of any court or any order, rule or regulation of any
 Governmental Authority or otherwise:

     (a)  DEFAULT IN PAYMENT OF PRINCIPAL OF LOANS AND REIMBURSEMENT
 OBLIGATION.  The Borrower shall default in any payment of principal of
 any Loan, Note or Reimbursement Obligation when and as due (whether at
 maturity, by reason of acceleration or otherwise).

     (b)  OTHER PAYMENT DEFAULT.  The Borrower shall default in the
 payment when and as due (whether at maturity, by reason of acceleration
 or otherwise) of any interest, fees or other amounts owing on any Loan,
 Note or Reimbursement Obligation or the payment of any other Obligation
 (other than any Obligation under any Hedging Agreement), and such
 default shall continue unremedied for three (3) Business Days after the
 earlier of a Responsible Officer of a Credit Party becoming aware of
 such default or written notice thereof has been given to the Borrower
 by the Administrative Agent.

     (c)  MISREPRESENTATION.  Any representation, warranty or statement
 made or deemed to be made by any Credit Party or any of its
 Subsidiaries, if applicable, under this Agreement, any Loan Document or
 any amendment hereto or thereto or in any certificate delivered to the
 Administrative Agent or to any Lender pursuant hereto and thereto,
 shall at any time prove to have been incorrect or misleading in any
 material respect when made or deemed made.

     (d)  DEFAULT IN PERFORMANCE OF CERTAIN COVENANTS.  Any of the
 Credit Parties shall default in the performance or observance of any
 covenant or agreement contained in Article IX.

     (e)  DEFAULT IN PERFORMANCE OF OTHER COVENANTS AND CONDITIONS.  Any
 of the Credit Parties or any Subsidiary thereof, if applicable, shall
 default in the performance or observance of any term, covenant,
 condition or agreement contained in this Agreement (other than as
 specifically provided for otherwise in this Section 11.1) or any other
 Loan Document and such default shall continue for a period of thirty
 (30) days after the earlier of a Responsible Officer of a Credit Party
 becoming aware of such default or written notice thereof has been given
 to the Borrower by the Administrative Agent.

 (f)  HEDGING AGREEMENT.  Any termination payments in an amount greater
<PAGE>
 than $5,000,000 shall be due by any Credit Party under any Hedging
 Agreement and suchamount is not paid within thirty (30) Business Days
 of the due date thereof.

     (g)  DEBT CROSS-DEFAULT.  Any of the Credit Parties or any of their
 Subsidiaries shall (i) default in the payment of any Debt (other than
 Debt under this Agreement, the Notes or any
                                   69
 Reimbursement Obligation) the aggregate outstanding amount of which
 Debt is in excess of $10,000,000, beyond the period of grace if any,
 provided in the instrument or agreement under which such Debt was
 created, or (ii) default in the observance or performance of any other
 agreement or condition relating to any Debt (other than Debt under this
 Agreement, the Notes or any Reimbursement Obligation), the aggregate
 outstanding amount of which Debt is in excess of $10,000,000 or
 contained in any instrument or agreement evidencing, securing or
 relating thereto or any other event shall occur or condition exist, the
 effect of which default or other event or condition is to cause, or to
 permit the holder or holders of such Debt (or a trustee or agent on
 behalf of such holder or holders) to cause, with the giving of notice
 if required, any such Debt to become due prior to its stated maturity
 (any such notice having been given and any applicable grace period
 having expired).

     (h)  CHANGE IN CONTROL.  An event described in clause (i), (ii) or
 (iii) below shall have occurred: (i) during any period of twelve (12)
 consecutive months, individuals who at the beginning of such period
 constituted the board of directors of the Borrower (together with any
 new directors whose election by such board or whose nomination for
 election by the shareholders of the Borrower was approved by a vote of
 a majority of the directors then still in office who were either
 directors at the beginning of such period or whose election or
 nomination for election was previously so approved) and who were
 entitled to vote on such matters, cease for any reason to constitute a
 majority of the board of directors of the Borrower then in office, (ii)
 any person or group of persons (within the meaning of Section 13(d) of
 the Securities Exchange Act of 1934, as amended), other than Senior
 Management (as defined below), shall obtain ownership or control in one
 or more series of transactions of more than 50% of the common stock or
 50% of the voting power of the Borrower entitled to vote in the
 election of members of the board of directors of the Borrower or (iii)
 there shall have occurred under any indenture or other instrument
 evidencing any Debt in excess of $5,000,000 any "change in control" (as
 defined in such indenture or other evidence of debt) obligating the
 Borrower to repurchase, redeem or repay all or any part of the debt or
 capital stock provided for therein (any such event, a "CHANGE IN
 CONTROL").  For purposes hereof, "Senior Management" shall mean a
 person who is either a member of the Borrower's board of directors or a
 senior corporate officer of the Borrower, in each case holding such
 position as of the Closing Date and as of the date of any Change in
 Control.

     (i)  VOLUNTARY BANKRUPTCY PROCEEDING.  Any Credit Party or any
 Material Subsidiary thereof shall (i) commence a voluntary case under
 the federal bankruptcy laws (as now or hereafter in effect), (ii) file
 a petition seeking to take advantage of any other laws, domestic or
 foreign, relating to bankruptcy, insolvency, reorganization, winding up
 or composition for adjustment of debts, (iii) consent to or fail to
<PAGE>
 contest in a timely and appropriate manner any petition filed against
 it in an involuntary case under such bankruptcy laws or other laws,(iv)
 apply for or consent to, or fail to contest in a timely and appropriate
 manner, the appointment of, or the taking of possession by, a receiver,
 custodian, trustee or liquidator of itself or of a substantial part of
 its property, domestic or foreign, (v) admit in writing its inability
 to pay its debts as they become due, (vi) make a general assignment for
 the benefit of creditors, or (vii) take any corporate action for the
 purpose of authorizing any of the foregoing.
                                   70
     (j)  INVOLUNTARY BANKRUPTCY PROCEEDING.  A case or other proceeding
 shall be commenced against any Credit Party or any Material Subsidiary
 thereof in any court of competent jurisdiction seeking (i) relief under
 the federal bankruptcy laws (as now or hereafter in effect) or under
 any other laws, domestic or foreign, relating to bankruptcy,
 insolvency, reorganization, winding up or composition for adjustment of
 debts, or (ii) the appointment of a trustee, receiver, custodian,
 liquidator or the like for any Credit Party or any Material Subsidiary
 thereof or for all or any substantial part of their respective assets,
 domestic or foreign, and such case or proceeding shall continue without
 dismissal or stay for a period of sixty (60) consecutive days, or an
 order granting the relief requested in such case or proceeding
 (including, but not limited to, an order for relief under such federal
 bankruptcy laws) shall be entered.

     (k)  ENFORCEMENT.  A creditor or an encumbrance attaches or takes
 possession of, or a distress, execution, sequestration or other process
 is levied or enforced upon or sued out against, any of the undertakings
 and assets of any Credit Party or any Material Subsidiary thereof and
 (if capable of discharge) such possession is not terminated or such
 attachment or process is not satisfied, removed or discharge within
 fifteen (15) days.

     (l)  SIMILAR EVENTS.  Any event occurs or any proceeding is taken
 with respect to any Credit Party or any Material Subsidiary in any
 jurisdiction to which it is subject which has an effect equivalent or
 similar to any of the events set forth in Sections 11.1(i), (j) or (k).

     (m)  JUDGMENT.  A judgment or order for the payment of money which
 causes the aggregate amount of all such judgments to exceed $10,000,000
 in any Fiscal Year shall be entered against any Credit Party or any
 Subsidiary thereof by any court and such judgment or order shall not,
 within ninety (90) days after entry thereof, be bonded, discharged or
 stayed pending appeal, or shall not be discharged within ninety (90)
 days after the expiration of such stay.

     (n)  GUARANTY.  At any time after the execution and delivery
 thereof, the guaranty given by a Guarantor hereunder or any provision
 thereof shall cease to be in full force or effect as to such Guarantor,
 or such Guarantor or any Person acting by or on behalf of such
 Guarantor shall deny or disaffirm such Guarantor's obligations under
 such guaranty or such Guarantor shall default in the due performance or
 observance of any term, covenant or agreement on its part to be
 performed or observed pursuant to such guaranty.

     (o)  ERISA.  An event described in each clause (i), (ii) and (iii)
 below shall have occurred: (i) any Pension Plan shall fail to satisfy
<PAGE>
 the minimum funding standard required for any plan year or part thereof
 under Section 412 of the Code or Section 302 of ERISA or a waiver of
 such standard or extension of any amortization period is sought or
 granted under Section 412 of the Code or Section 303 or 304 of ERISA, a
 Reportable Event shall have occurred, a contributing sponsor (as
 defined in Section 4001(a)(13) of ERISA) of a Pension Plan subject to
 Title IV of ERISA shall be subject to the advance reporting requirement
 of PBGC Regulation Section 4043.61 (without regard to subparagraph
 (b)(1) thereof) and an event described in subsection .62 , .63, .64,
 .65, .66, .67 or .68 of PBGC Regulation Section 4043 shall be
 reasonably expected to occur with respect to such Pension Plan within
 the following thirty (30) days, any Pension Plan which is subject to
 Title IV of ERISA shall have had or is likely to have a
                                   71
 trustee appointed to administer such Pension Plan, any Pension Plan
 which is subject to Title IV of ERISA is, shall have been or is likely
 to be terminated or to be the subject of termination proceedings under
 ERISA, any Pension Plan shall have an Unfunded Current Liability, a
 contribution required to be made with respect to a Pension Plan or a
 Foreign Pension Plan has not been timely made, the Credit Parties or
 any of their Subsidiaries or any ERISA Affiliate has incurred or is
 likely to incur any liability to or on account of a Pension Plan under
 Section 409, 502(i), 502(1), 515, 4062, 4063, 4064, 4069, 4201, 4204 or
 4212 of ERISA or Section 401(a)(29), 4971 or 4975 of the Code or on
 account of a group health plan (as defined in Section 607(1) of ERISA
 or Section 4980B(g)(2) of the Code) under Section 4980B of the Code, or
 the Credit Parties or any of their Subsidiaries has incurred or is
 likely to incur liabilities pursuant to one or more employee welfare
 benefit plans (as defined in Section 3(1) of ERISA) that provide
 benefits to retired employees or other former employees (other than as
 required by Sectio 601 of ERISA) or Pension Plans or Foreign Pension
 Plans; (ii) there shall result from any such event or events the
 imposition of a lien, the granting of a security interest or a
 liability or a material risk of such a lien being imposed, such
 security interest being granted or such liability being incurred, and
 (iii) such lien, security interest or liability, individually, and/or
 in the aggregate, has had, or could reasonably be expected to have, a
 Material Adverse Effect.

     SECTION 11.2   REMEDIES.

     Upon the occurrence of an Event of Default, with the consent of the
 Required Lenders, the Administrative Agent may, or upon the request of
 the Required Lenders, the Administrative Agent shall, by notice to the
 Credit Parties:

    (a)  ACCELERATION: TERMINATION OF FACILITIES.  Declare the principal
 of and interest on the Loans, the Notes and the Reimbursement
 Obligations at the time outstanding, and all other amounts owed to the
 Lenders and to the Administrative Agent under this Agreement or any of
 the other Loan Documents (other than any Hedging Agreement) (including,
 without limitation, all L/C Obligations, whether or not the
 beneficiaries of the then outstanding Letters of Credit shall have
 presented the documents required thereunder) and all other Obligations
 (other than Obligations owing under any Hedging Agreement), to be
 forthwith due and payable, whereupon the same shall immediately become
 due and payable without presentment, demand, protest or other notice of
 any kind, all of which
<PAGE>
 are expressly waived, anything in this Agreement or the other Loan
 Documents to the contrary notwithstanding, and terminate the Credit
 Facility and any right of the Borrower to request borrowings or Letters
 of Credit thereunder; PROVIDED, that upon the occurrence of an Event of
 Default specified in Section 11.1(i), (j), (k) or (1) with respect to
 the Credit Parties, the Credit Facility shall be automatically
 terminated and all Obligations (other than obligations owing under any
 Hedging Agreement) shall automatically become due and payable.

     (b)  LETTERS OF CREDIT.  With respect to all Letters of Credit with
 respect to which presentment for honor shall not have occurred at the
 time of an acceleration pursuant to the preceding paragraph, require
 the Borrower at such time to deposit or cause to be deposited in a cash
 collateral account opened by the Administrative Agent an amount equal
 to the aggregate then undrawn and unexpired amount of such Letters of
 Credit.  Amounts held in such cash collateral account shall be applied
 by the Administrative Agent to the payment of drafts drawn
                                   72
 under such Letters of Credit, and the unused portion thereof after all
 such Letters of Credit shall have expired or been fully drawn upon, if
 any, shall be applied to repay the other Obligations.  After all such
 Letters of Credit shall have expired or been fully drawn upon, the
 Reimbursement Obligation shall have been satisfied and all other
 Obligations shall have been paid in full, the balance, if any, in such
 cash collateral account shall be promptly returned to the Borrower.

     (c)  RIGHTS OF COLLECTION.  Exercise on behalf of the Lenders all
 of its other rights and remedies under this Agreement, the other Loan
 Documents and Applicable Law, in order to satisfy all of the
 Obligations.

     SECTION 11.3   RIGHTS AND REMEDIES CUMULATIVE; NON-WAIVER; ETC.

     The enumeration of the rights and remedies of the Administrative
 Agent and the Lenders set forth in this Agreement is not intended to be
 exhaustive and the exercise by the Administrative Agent and the Lenders
 of any right or remedy shall not preclude the exercise of any other
 rights or remedies, all of which shall be cumulative, and shall be in
 addition to any other right or remedy given hereunder or under the Loan
 Documents or that may now or hereafter exist in law or in equity or by
 suit or otherwise.  No delay or failure to take action 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 shall be construed to be a waiver of any Event of
 Default.  No course of dealing between the Credit Parties, the
 Administrative Agent and the Lenders or their respective agents or
 employees shall be effective to change, modify or discharge any
 provision of this Agreement or any of the other Loan Documents or to
 constitute a waiver of any Event of Default.

                          ARTICLE XII

                    THE ADMINISTRATIVE AGENT
<PAGE>
     SECTION 12.1   APPOINTMENT.

     Each of the Lenders hereby irrevocably designates and appoints Bank
 of America as Administrative Agent of such Lender under this Agreement
 and the other Loan Documents for the term hereof and each such Lender
 irrevocably authorizes Bank of America as Administrative Agent for such
 Lender, to take such action on its behalf under the provisions of this
 Agreement and the other Loan Documents and to exercise such powers and
 perform such duties as are expressly delegated to the Administrative
 Agent by the terms of this Agreement and such other Loan Documents,
 together with such other powers as are reasonably incidental thereto.
 Notwithstanding any provision to the contrary elsewhere in this
 Agreement or such other Loan Documents, the Administrative Agent shall
 not have any duties or responsibilities, except those expressly set
 forth herein and therein, or any fiduciary relationship with any
 Lender, and no implied covenants, functions, responsibilities, duties,
 obligations or liabilities shall be read into this Agreement or the
 other Loan Documents or otherwise exist against the Administrative
 Agent.  Any reference to the Administrative Agent in this Article XII
 shall be deemed to refer to
                                   73
 the Administrative Agent solely in its capacity as Administrative Agent
 and not in its capacity as a Lender.

     SECTION 12.2   DELEGATION OF DUTIES.

     The Administrative Agent may execute any of its respective duties
 under this Agreement and the other Loan Documents by or through agents
 or attorneys-in-fact and shall be entitled to advice of counsel
 concerning all matters pertaining to such duties.  The Administrative
 Agent shall not be responsible for the negligence or misconduct of any
 agents or attorneys-in-fact selected by the Administrative Agent with
 reasonable care.

     SECTION 12.3   EXCULPATORY PROVISIONS.

     Neither the Administrative Agent nor any of its officers,
 directors, employees, agents, attorneys-in-fact, Subsidiaries or
 Affiliates shall be (a) liable for any action lawfully taken or omitted
 to be taken by it or such Person under or in connection with this
 Agreement or the other Loan Documents (except for actions occasioned
 solely by its or such Person's own gross negligence or willful
 misconduct), or (b) responsible in any manner to any of the Lenders
 for any recitals, statements, representations or warranties made by any
 Credit Party or any of its Subsidiaries or any officer thereof
 contained in this Agreement or the other Loan Documents or in any
 certificate, report, statement or other document referred to or
 provided for in, or received by the Administrative Agent under or in
 connection with, this Agreement or the other Loan Documents or for the
 value, validity, effectiveness, genuineness, enforceability or
 sufficiency of this Agreement or the other Loan Documents or for any
 failure of any Credit Party or any of its Subsidiaries to perform its
 obligations hereunder or thereunder.  The Administrative Agent shall
 not be under any obligation to any Lender to ascertain or to inquire as
 to the observance or performance of any of the agreements contained in,
 or conditions of, this Agreement, or to inspect the properties, books
 or records of any Credit Party or any of its Subsidiaries.
<PAGE>
     SECTION 12.4   RELIANCE BY THE ADMINISTRATIVE AGENT.

     The Administrative Agent shall be entitled to rely, and shall be
 fully protected in relying, upon any note, writing, resolution, notice,
 consent,certificate, affidavit, letter, cablegram, telegram, telecopy,
 telex or teletype message, statement, order or other document or
 conversation believed by it to be genuine and correct and to have been
 signed, sent or made by the proper Person or Persons and upon advice
 and statements of legal counsel (including, without limitation, counsel
 to the Credit Parties), independent accountants and other experts
 selected by the Administrative Agent.  The Administrative Agent may
 deem and treat the payee of any Note as the owner thereof for all
 purposes unless such Note shall have been transferred in accordance
 with Section 13.9 hereof. The Administrative Agent shall be fully
 justified in failing or refusing to take any action under this
 Agreement and the other Loan Documents unless it shall first receive
 such advice or concurrence of the Required Lenders (or, when expressly
 required hereby or by the relevant other Loan Document, all the
 Lenders) as it deems appropriate or it shall first be indemnified to
 its satisfaction by the Lenders against any and all liability and
 expense which may be incurred by it by reason of taking or continuing
 to take any such action except for its own gross negligence or willful
 misconduct.  The Administrative Agent shall in all cases be fully
                                     74
 protected in acting, or in refraining from acting, under this Agreement
 and the Notes in accordance with a request of the Required Lenders
 (or, when expressly required hereby, all the Lenders), and such request
 and any action taken or failure to act pursuant thereto shall be
 binding upon all the Lenders and all future holders of the Notes.

     SECTION 12.5   NOTICE OF DEFAULT.

     The Administrative Agent shall not be deemed to have knowledge or
 notice of the occurrence of any Default or Event of Default hereunder
 unless it has received notice from a Lender or the Credit Parties
 referring to this Agreement, describing such Default or Event of
 Default and stating that such notice is a "notice of default." In the
 event that the Administrative Agent receives such a notice, it shall
 promptly give notice thereof to the Lenders.  The Administrative Agent
 shall take such action with respect to such Default or Event of
 Default as shall be reasonably directed by the Required Lenders;
 PROVIDED that unless and until the Administrative Agent shall have
 received such directions, the Administrative Agent may (but shall not
 be obligated to) take such action, or refrain from taking such action,
 with respect to such Default or Event of Default as it shall deem
 advisable in the best interests of the Lenders, EXCEPT to the extent
 that other provisions of this Agreement expressly require that any such
 action be taken or not be taken only with the consent and authorization
 or the request of the Lenders or Required Lenders, as applicable.

     SECTION 12.6   NON-RELIANCE ON THE ADMINISTRATIVE AGENT AND OTHER
 LENDERS.

     Each Lender expressly acknowledges that neither the Administrative
 Agent nor any of its respective officers, directors, employees, agents,
 attorneys-in-fact, Subsidiaries or Affiliates has made any
 representations or warranties to it and that no act by the
 Administrative Agent
<PAGE>
 hereinafter taken, including any review of the affairs of the Credit
 Parties or any of their respective Subsidiaries, shall be deemed to
 constitute any representation or warranty by the Administrative Agent
 to any Lender.  Each Lender represents to the Administrative Agent that
 it has, independently and without reliance upon the Administrative
 Agent or any other Lender, and based on such documents and information
 as it has deemed appropriate, made its own appraisal of and
 investigation into the business, operations, property, financial and
 other condition and creditworthiness of the Credit Parties and their
 respective Subsidiaries and made its own decision to make its Loans and
 issue or participate in Letters of Credit hereunder and enter into this
 Agreement.  Each Lender also represents that it will, independently and
 without reliance upon the Administrative Agent or any other Lender, and
 based on such documents and information as it shall deem appropriate at
 the time, continue to make its own credit analysis, appraisals and
 decisions in taking or not taking action under this Agreement and the
 other Loan Documents, and to make such investigation as it deems
 necessary to inform itself as to the business, operations, property,
 financial and other condition and creditworthiness of the Credit
 Parties and their respective Subsidiaries. Except for notices, reports
 and other documents expressly required to be furnished to the Lenders
 by the Administrative Agent hereunder or by the other Loan Documents,
 the Administrative Agent shall not have any duty or responsibility to
 provide any Lender with any credit or other information concerning the
 business, operations, property, financial and other condition or
 creditworthiness of any Credit Party or any of its Subsidiaries which
                                     75
 may come into the possession of the Administrative Agent or any of its
 respective officers, directors, employees, agents, atorneys-in-fact,
 Subsidiaries or Affiliates.

     SECTION 12.7   INDEMNIFICATION.

     The Lenders agree to indemnify the Administrative Agent in its
 capacity as such and (to the extent not reimbursed by the Credit
 Parties and without limiting the obligation of the Credit Parties to do
 so), ratably according to the respective amounts of their Aggregate
 Revolving Credit Commitment Percentages from and against any and all
 liabilities, obligations, losses, damages, penalties, actions,
 judgments, suits, costs, expenses or disbursements of any kind
 whatsoever which may at any time (including, without limitation, at any
 time following the payment of the Notes or any Reimbursement
 Obligation) be imposed on, incurred by or asserted against the
 Administrative Agent in any way relating to or arising out of this
 Agreement or the other Loan Documents, or any documents contemplated by
 or referred to herein or therein or the transactions contemplated
 hereby or thereby or any action taken or omitted by the Administrative
 Agent under or in connection with any of the foregoing; PROVIDED that
 no Lender shall be liable for the payment of any portion of such
 liabilities, obligations, losses, damages, penalties, actions,
 judgments, suits, costs, expenses or disbursements to the extent they
 result from the Administrative Agent's bad faith, gross negligence or
 willful misconduct.  The agreements in this Section 12.7 shall survive
 the payment of the Notes, any Reimbursement Obligation and all other
 amounts payable hereunder and the termination of this Agreement.

     SECTION 12.8   THE ADMINISTRATIVE AGENT IN ITS INDIVIDUAL CAPACITY.
<PAGE>
     The Administrative Agent and its respective Subsidiaries and
 Affiliates may make loans to, accept deposits from and generally engage
 in any kind of business with the Credit Parties as though the
 Administrative Agent were not an Administrative Agent hereunder.  With
 respect to any Loans made or renewed by it and any Note issued to it
 and with respect to any Letter of Credit issued by it or participated
 in by it, the Administrative Agent shall have the same rights and
 powers under this Agreement and the other Loan Documents as any Lender
 and may exercise the same as though it were not an Administrative
 Agent, and the terms "Lender" and "Lenders" shall include the
 Administrative Agent in its individual capacity.

     SECTION 12.9   RESIGNATION OF THE ADMINISTRATIVE AGENT; SUCCESSOR
 ADMINISTRATIVE AGENT.

    Subject to the appointment and acceptance of a successor as provided
 below, the Administrative Agent may resign at any time by giving notice
 thereof to the Lenders and the Credit Parties.  Upon any such
 resignation, the Required Lenders shall have the right, subject to the
 approval of the Credit Parties (so long as no Default or Event of
 Default has occurred and is continuing), to appoint a successor
 Administrative Agent, which successor shall have minimum capital and
 surplus of at least $500,000,000.  If no successor Administrative Agent
 shall have been so appointed by the Required Lenders, been approved (so
 long as no Default or Event of Default has occurred and is continuing)
 by the Credit Parties or have accepted such appointment within thirty
 (30) days after the Administrative Agent's giving of notice of
 resignation, then the Administrative Agent may, on behalf of the
 Lenders, appoint a successor Administrative Agent
                                   76
 reasonably acceptable to the Credit Parties (so long as no Default or
 Event of Default has occurred and is continuing), which successor shall
 have minimum capital and surplus of at least $500,000,000.  Upon the
 acceptance of any appointment as Administrative Agent hereunder by a
 successor Administrative Agent, such successor Administrative Agent
 shall thereupon succeed to and become vested with all rights, powers,
 privileges and duties of the retiring Administrative Agent, and the
 retiring Administrative Agent shall be discharged from its duties and
 obligations hereunder.  After any retiring Administrative Agent's
 resignation hereunder as Administrative Agent, the provisions of this
 Section 12.9 shall continue in effect for its benefit in respect of any
 actions taken or omitted to be taken by it while it was acting as
 Administrative Agent.

                          ARTICLE XIII

                         MISCELLANEOUS

     SECTION 13.1   NOTICES.

     (a)  METHOD OF COMMUNICATION.  Except as otherwise provided in this
 Agreement, all notices and communications hereunder shall be in
 writing, or by telephone subsequently confirmed in writing.  Any notice
 shall be effective if delivered by hand delivery or sent via telecopy,
 recognized overnight courier service or certified mail, return receipt
 requested,
<PAGE>
 and shall be presumed to be received by a party hereto (i) on the date
 of delivery if delivered by hand or sent by telecopy, (ii) on the next
 Business Day if sent by recognized overnight courier service and (iii)
 on the third Business Day following the date sent by certified mail,
 return receipt requested.  A telephonic notice to the Administrative
 Agent as understood by the Administrative Agent will be deemed to be
 the controlling and proper notice in the event of a discrepancy with or
 failure to receive a confirming written notice.

     (b)  ADDRESSES FOR NOTICES.  Notices to any party shall be sent to
 it at the following addresses, or any other address as to which all the
 other parties are notified in writing.

 If to the Borrower or any Guarantor:

 c/o Wausau-Mosinee Paper Corporation
 1244 Kronenwetter Drive
 Mosinee, Wisconsin 54455-9099
 Attention: Gary P. Peterson
 Telephone:         (715) 692-2002
 Telecopier:        (715) 692-2082
                                   77
 If to Bank of America as Administrative Agent:
          Bank of America, N.A.
          Agency Administrative Services
          1850 Gateway Boulevard, 5th Floor
          Concord, California 94520-3281
          Attention: Michael P. Costa
          Telephone:  (925) 675-8439
          Telecopier: (925) 969-2806

 If to any Lender:

          To the Address set forth on SCHEDULE 13.1 hereto

     (c)  ADMINISTRATIVE AGENT'S OFFICE.  The Administrative Agent
 hereby designates its office located at the address set forth above, or
 any subsequent office which shall have been specified for such purpose
 by written notice to the Borrower and the Lenders, as the
 Administrative Agent's Office referred to herein, to which payments due
 are to be made and at which Loans will be disbursed.

     SECTION 13.2   EXPENSES, INDEMNITY.

     The Borrower agrees to (a) pay all reasonable out-of-pocket
 expenses of the Administrative Agent and the Arranger in connection
 with (i) the preparation, execution and delivery of this Agreement and
 each other Loan Document, whenever the same shall be executed and
 delivered, including without limitation the reasonable out-of-pocket
 syndication and due diligence expenses and reasonable fees and
 disbursements of counsel for the Administrative Agent (including the
 allocated cost of internal counsel) and (ii) the preparation, execution
 and delivery of any waiver, amendment or consent by the Administrative
 Agent, the Arranger or the Lenders relating to this Agreement or any
 other Loan Document, including without limitation reasonable fees and
 disbursements of counsel for the Administrative Agent (including the
 allocated cost of internal
<PAGE>
 counsel), (b) pay all reasonable out-of-pocket expenses of the
 Administrative Agent actually incurred in connection with the
 administration of the Credit Facility, (c) pay all reasonable
 out-of-pocket expenses of the Administrative Agent, the Arranger and
 each Lender actually incurred in connection with the enforcement of any
 rights and remedies of the Administrative Agent, the Arranger and the
 Lenders under the Credit Facility, including, to the extent reasonable
 under the circumstances, consulting with accountants, attorneys and
 other Persons concerning the nature, scope or value of any right or
 remedy of the Administrative Agent, the Arranger or any Lender
 hereunder or under any other Loan Document or any factual matters in
 connection therewith, which expenses shall include without limitation
 the reasonable fees and disbursements of such Persons (including the
 allocated cost of internal counsel), and (d) defend, indemnify and hold
 harmless the Administrative Agent, the Arranger and the Lenders, and
 their respective parents, Subsidiaries, Affiliates, employees, agents,
 officers and directors, from and against any losses, penalties, fines,
 liabilities, settlements, damages, costs and expenses, suffered by any
 such Person in connection with any claim, investigation, litigation or
 other proceeding (whether or not the Administrative Agent, the Arranger
 or any Lender is a party thereto) and the prosecution and defense
 thereof, arising out of or in any way connected with this Agreement,
                                   78
 the Credit Facility, any other Loan Document, the Loans or the Notes or
 as a result of the breach of any of the Credit Parties' obligations
 hereunder, including without limitation reasonable attorney's fees
 (including the allocated cost of internal counsel), consultant's fees
 and settlement costs (but excluding any losses, penalties, fines
 liabilities, settlements, damages, costs and expenses to the extent
 incurred by reason of the gross negligence or willful misconduct of the
 Person to be indemnified (as finally determined by a court of competent
 jurisdiction)).

     SECTION 13.3   SET-OFF.

     In addition to any rights now or hereafter granted under Applicable
 Law and not by way of limitation of any such rights, upon and after the
 occurrence of any Event of Default and during the continuance thereof,
 the Lenders and any assignee or participant of a Lender in accordance
 with Section 13.9 are hereby authorized by the Credit Parties at any
 time or from time to time, without notice to the Credit Parties or to
 any other Person, any such notice being hereby expressly waived, to set
 off and to appropriate and to apply (including, without limitation, the
 right to combine currencies) any and all deposits (general or special,
 time or demand, including, but not limited to, indebtedness evidenced
 by certificates of deposit, whether matured or unmatured) and any other
 indebtedness at any time held or owing by the Lenders, or any such
 assignee or participant to or for the credit or the accounts of the
 Borrower against and on account of the Obligations irrespective of
 whether or not (a) the Lenders shall have made any demand under this
 Agreement or any of the other Loan Documents or (b) the Administrative
 Agent shall have declared any or all of the Obligations to be due and
 payable as permitted by Section 11.2 and although such Obligations
 shall be contingent or unmatured.

     SECTION 13.4   GOVERNING LAW.
<PAGE>
     This Agreement, the Notes and the other Loan Documents, unless
 otherwise expressly set forth therein, shall be governed by, construed
 and enforced in accordance with the laws of the State of Illinois,
 without giving effect to the conflict of law principles thereof.

     SECTION 13.5   CONSENT TO JURISDICTION.

     Each of the parties hereto hereby irrevocably consents to the
 personal jurisdiction of the state and federal courts located in
 Illinois, in any action, claim or other proceeding arising out of any
 dispute in connection with this Agreement, the Notes and the other Loan
 Documents, any rights or obligations hereunder or thereunder, or the
 performance of such rights and obligations.  Each of the parties hereto
 hereby irrevocably consents to the service of a summons and complaint
 and other process in any action, claim or proceeding brought by any
 other party hereto in connection with this Agreement, the Notes or the
 other Loan Documents, any rights or obligations hereunder or
 thereunder, or the performance of such rights and obligations, on
 behalf of itself or its property, in the manner specified in Section
 13.1.  Nothing in this Section 13.5 shall affect the right of any of
 the parties hereto to serve legal process in any other manner permitted
 by Applicable Law or affect the right of any of the parties hereto to
 bring any action or proceeding against any other party hereto or its
 properties in the courts of any other jurisdictions.
                                   79
     SECTION 13.6   WAIVER OF JURY TRIAL.

     THE ADMINISTRATIVE AGENT, EACH LENDER AND EACH CREDIT PARTY HEREBY
 WAIVE, TO THE EXTENT PERMITTED BY APPLICABLE LAW, THEIR RESPECTIVE
 RIGHTS TO A JURY TRIAL WITH RESPECT TO ANY ACTION, CLAIM OR OTHER
 PROCEEDING ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS
 AGREEMENT, THE NOTES OR THE OTHER LOAN DOCUMENTS, ANY RIGHTS OR
 OBLIGATIONS HEREUNDER OR THEREUNDER, OR THE PERFORMANCE OF SUCH RIGHTS
 AND OBLIGATIONS.

     SECTION 13.7   REVERSAL OF PAYMENTS.

     To the extent any Credit Party makes a payment or payments to the
 Administrative Agent for the ratable benefit of the Lenders or the
 Administrative Agent receives any payment or proceeds of the collateral
 which payments or proceeds or any part thereof are subsequently
 invalidated, declared to be fraudulent or preferential, set aside
 and/or required to be repaid to a trustee, receiver or any other party
 under any bankruptcy law, state or federal law, common law or equitable
 cause, then, to the extent of such payment or proceeds repaid, the
 Obligations or part thereof intended to be satisfied shall be revived
 and continued in full force and effect as if such payment or proceeds
 had not been received by the Administrative Agent.

     SECTION 13.8   ACCOUNTING MATTERS.

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

     SECTION 13.9   SUCCESSORS AND ASSIGNS; PARTICIPATIONS;
 CONFIDENTIALITY.

     (a)  BENEFIT OF AGREEMENT.  This Agreement shall be binding upon
 and inure to the benefit of the Credit Parties, the Administrative
 Agent, the Arranger and the Lenders, all future holders of the Notes,
 and their respective successors and permitted assigns, except that the
 Credit Parties shall not assign or transfer any of their rights or
 obligations under this Agreement without the prior written consent of
 each Lender other than pursuant to Section 9.3.

     (b)  ASSIGNMENT BY LENDERS.  Each Lender may assign to one or more
 Eligible Assignees all or a portion of its interests, rights and
 obligations under this Agreement (including,
                                   80
 without limitation, all or a portion of the Extensions of Credit at the
 time owing to it and the Note held by it) PROVIDED that:

        (i)  each such assignment shall be of a constant, and not a
   varying, percentage of all the assigning Lender's Aggregate Revolving
   Credit Commitment and all other rights and obligations under this
   Agreement;

        (ii)  if less than all of the assigning Lender's Aggregate
   Revolving Credit Commitment or Loans is to be assigned, the Aggregate
   Revolving Credit Commitment or Loans so assigned shall not be less
   than $1,000,000;

        (iii)  the parties to each such assignment shall execute and
   deliver to the Administrative Agent, for its acceptance and recording
   in the Register, an Assignment and Acceptance in the form of EXHIBIT
   H attached hereto (an "ASSIGNMENT AND ACCEPTANCE");

        (iv)  such assignment shall not, without the consent of the
   Borrower, on behalf of itself and the other Credit Parties, require
   the Borrower, or any other Credit Party, to file a registration
   statement with the Securities and Exchange Commission or apply to or
   qualify the Loans or the Notes under the blue sky laws of any state;
   and

        (v)  the assigning Lender shall pay to the Administrative Agent
   an assignment fee of $3,500 upon the execution by such Lender of the
   Assignment and Acceptance (including, but not limited to, an
   assignment by a Lender to another Lender); PROVIDED that no such fee
   shall be payable upon any assignment by a Lender to an Affiliate
   thereof.
<PAGE>
 Upon such execution, delivery, acceptance and recording, from and after
 the effective date specified in each Assignment and Acceptance, which
 effective date shall be at least ten (10) Business Days after the
 execution thereof, (A) the assignee thereunder shall be a party hereto
 and, to the extent of the interest assigned in such Assignment and
 Acceptance, have the rights and obligations of a Lender hereby and (B)
 the Lender thereunder shall, to the extent of the interest assigned in
 such assignment, be released from its obligations under this Agreement.

     (c)  RIGHTS AND DUTIES UPON ASSIGNMENT.  By executing and
 delivering an Assignment and Acceptance, the assigning Lender
 thereunder and the assignee thereunder confirm to and agree with each
 other and the other parties hereto as set forth in such Assignment and
 Acceptance.

     (d)  REGISTER.  The Administrative Agent shall maintain a copy of
 each Assignment and Acceptance delivered to it and a register for the
 recordation of the names and addresses of the Lenders and the amount of
 the Extensions of Credit with respect to each Lender from time to time
 (the "REGISTER").  No assignment shall be effective for purposes of
 this Agreement unless it has been recorded in the Register as provided
 in this paragraph.  The entries in the Register shall be conclusive, in
 the absence of manifest error, and the Borrower, the Administrative
 Agent, the Arranger and the Lenders may treat each person whose name is
 recorded in the Register as a Lender hereunder for all purposes of this
 Agreement.  The Register shall be available for inspection by
                                     81
 the Borrower or Lenders at any reasonable time and from time to time
 upon reasonable prior notice.

     (e)  ISSUANCE OF NEW NOTES, ETC.  Upon its receipt of an Assignment
 and Acceptance executed by an assigning Lender and an Eligible
 Assignee, together with any Note of such assigning Lender if such
 Lender is assigning all of its interests hereunder, and any required
 written consent to such assignment, the Administrative Agent shall, if
 such Assignment and Acceptance has been completed and is substantially
 in the form of EXHIBIT H:

        (i)  accept such Assignment and Acceptance;

        (ii)  record the information contained therein in the Register;

        (iii)  give prompt notice thereof to the Lenders and the
       Borrower, on behalf of itself and the other Credit Parties; and

        (iv)  promptly deliver a copy of such Assignment and Acceptance
     to the Borrower.

 Within ten (10) Business Days after receipt of notice, the Borrower
 shall execute and deliver to the Administrative Agent, in exchange for
 the surrendered Note (if required pursuant to this Section), a new Note
 to the order of such Eligible Assignee (if it is not already a Lender).
 Such new Note shall be dated the effective date of such Assignment and
 Acceptance and shall otherwise be in substantially the form of the
 original Note delivered to the assigning Lender.  Each surrendered Note
 shall be canceled and returned to the Borrower.
<PAGE>
     (f)  PARTICIPATIONS.  Each Lender may sell participations to one or
 more banks or other entities in all or a portion of its rights and/or
 obligations under this Agreement (including, without limitation, all or
 a portion of its Extensions of Credit and the Notes held by it);
 PROVIDED that:

        (i)  each such participation shall be in an amount not less than
       $1,000,000;

        (ii)  such Lender's obligations under this Agreement (including,
   without limitation, its Aggregate Revolving Credit Commitment) shall
   remain unchanged;

        (iii)  such Lender shall remain solely responsible to the other
   parties hereto for the performance of such obligations;

        (iv)  the Credit Parties, the Administrative Agent, the Arranger
   and the other Lenders shall continue to deal solely and directly with
   such Lender in connection with such Lender's rights and obligations
   under this Agreement;

        (v)  such Lender shall not permit such participant the right to
   approve any waivers, amendments or other modifications to this
   Agreement or any other Loan Document other than waivers, amendments
   or modifications which would reduce the principal of or the interest
                                   82
   rate on any Loan or Reimbursement Obligation, extend the term or
   increase the amount of the Aggregate Revolving Credit Commitment,
   reduce the amount of any fees to which such participant is entitled,
   extend any scheduled payment date for principal, interest or fees of
   any Loan, or release any Guarantor from its guaranty hereunder,
   except as expressly contemplated hereby or thereby; and

        (vi)  any such disposition shall not, without the consent of the
   Borrower, on behalf of itself and the other Credit Parties, require
   the Borrower or any other Credit Party, to (A) file a registration
   statement with the Securities and Exchange Commission or apply to or
   qualify the Revolving Credit Loans or the Revolving Credit Notes
   under the blue sky law of any state or (B) have additional
   compensation requirements pursuant to Sections 4.8, 4.10 or 4.11.

     (g)  DISCLOSURE OF INFORMATION; CONFIDENTIALITY.  Each of the
 Administrative Agent, the Issuing Lender and the Lenders agrees to
 maintain the confidentiality of the Information (as defined below),
 except that Information may be disclosed (a) to its Affiliates,
 directors, officers, employees and agents, including accountants, legal
 counsel and other advisors (it being understood that the Persons to
 whom such disclosure is made will be informed of the confidential
 nature of such Information and instructed to keep such Information
 confidential), (b) to the extent requested by any regulatory authority,
 (c) to the extent required by applicable laws or regulations or by any
 subpoena or similar legal process, (d) to any other party to this
 Agreement, (e) in connection with the exercise of any remedies
 hereunder or any suit, action or proceeding relating to this Agreement
 or the enforcement of rights hereunder, (f) subject to an agreement
 containing provisions substantially the same as those of this Section,
 to any assignee of or
<PAGE>
 participant in, or any prospective assignee of or participant in, any
 of its rights or obligations under this Agreement, (g) with the prior
 written consent of the Credit Parties, (h) to the extent such
 Information (A) becomes publicly available other than as a result of a
 breach of this Section by the disclosing party or (B) becomes available
 to the Administrative Agent, the Issuing Lender or any Lender on a
 nonconfidential basis from a source other than the Credit Parties or
 (i) to GOLD SHEETS and other similar bank trade publications, such
 information to consist of deal terms and other information (customarily
 found in such publications) upon the Credit Parties' prior review and
 approval, which shall not be unreasonably withheld or delayed.  For the
 purposes of this Section, "INFORMATION" means all information received
 from the Credit Parties or any of their Subsidiaries relating to the
 Credit Parties or their business, other than any such information that
 is available to the Administrative Agent, the Issuing Lender or any
 Lender on a nonconfidential basis prior to disclosure by the Credit
 Parties.  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.

     (h)  CERTAIN PLEDGES OR ASSIGNMENTS.  Nothing herein shall prohibit
 any Lender from pledging or assigning any Note to any Federal Reserve
 Bank in accordance with Applicable Law.
                                   83
     SECTION 13.10  AMENDMENTS, WAIVERS AND CONSENTS.

     Except as set forth below, any term, covenant, agreement or
 condition of this Agreement or any of the other Loan Documents may be
 amended or waived by the Lenders and any consent may be given by the
 Lenders, if, but only if, such amendment, waiver or consent is in
 writing signed by the Required Lenders (or by the Administrative Agent
 with the consent of the Required Lenders) and delivered to the
 Administrative Agent and, in the case of an amendment, signed by the
 Credit Parties; PROVIDED, that no amendment, waiver or consent shall,
 without the consent of each Lender affected thereby, (a) increase the
 amount or extend the time of the obligation of the Lenders to make
 Loans or issue or participate in Letters of Credit (except as expressly
 contemplated by Section 2.8), (b) extend the originally scheduled time
 or times of payment of the principal of any Loan or Reimbursement
 Obligation or the time or times of payment of interest or fees on any
 Loan or Reimbursement Obligation, (c) reduce the rate of interest or
 fees payable on any Loan or Reimbursement Obligation, (d) reduce the
 principal amount of any Loan or Reimbursement Obligation, (e) permit
 any subordination of the principal or interest on any Loan or
 Reimbursement Obligation, (f) permit any assignment (other than as
 specifically permitted or contemplated in this Agreement) of any of the
 Credit Parties' rights and obligations hereunder, (g) release any
 Guarantor from its guaranty hereunder or (h) amend the provisions of
 this Section 13.10 or the definition of Required Lenders.  In addition,
 no amendment, waiver or consent to the provisions of (i) Article XII
 shall be made without the written consent of the Administrative Agent
 and (ii) Article III shall be made without the written consent of each
 Issuing Lender.

     Notwithstanding the fact that the consent of all the Lenders is
<PAGE>
 required in certain circumstances as set forth above, (x) 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 Federal
 Bankruptcy Code (as now or hereafter in effect) supersedes the
 unanimous consent provisions set forth herein and (y) the Required
 Lenders may consent to allow a Credit Party to use cash collateral in
 the context of a bankruptcy or insolvency proceeding.

     SECTION 13.11  PERFORMANCE OF DUTIES.

     The Credit Parties' obligations under this Agreement and each of
 the Loan Documents shall be performed by the Credit Parties at their
 sole cost and expense.

     SECTION 13.12  ALL POWERS COUPLED WITH INTEREST.

     All powers of attorney and other authorizations granted to the
 Lenders, the Administrative Agent and any Persons designated by the
 Administrative Agent or any Lender pursuant to any provisions of this
 Agreement or any of the other Loan Documents shall be deemed coupled
 with an interest and shall be irrevocable so long as any of the
 Obligations remain unpaid or unsatisfied or the Credit Facility has not
 been terminated.
                                   84
     SECTION 13.13  SURVIVAL OF INDEMNITIES.

     Notwithstanding any termination of this Agreement, the indemnities
 to which the Administrative Agent, the Arranger and the Lenders are
 entitled under the provisions of this Article XIII and any other
 provision of this Agreement and the Loan Documents shall continue in
 full force and effect and shall protect the Administrative Agent, the
 Arranger and the Lenders against events arising after such termination
 as well as before, including after the Borrower's acceptance of the
 Lenders' commitments for the Credit Facility, notwithstanding any
 failure of such facility to close.

     SECTION 13.14  TITLES AND CAPTIONS.

     Titles and captions of Articles, Sections and subsections in this
 Agreement are for convenience only, and neither limit nor amplify the
 provisions of this Agreement.

     SECTION 13.15  SEVERABILITY OF PROVISIONS.

     Any provision of this Agreement or any other Loan Document which is
 prohibited or unenforceable in any jurisdiction shall, as to such
 jurisdiction, be ineffective only to the extent of such prohibition or
 unenforceability without invalidating the remainder of such provision
 or the remaining provisions hereof or thereof or affecting the validity
 or enforceability of such provision in any other jurisdiction.

     SECTION 13.16  COUNTERPARTS.

     This Agreement may be executed in any number of counterparts and by
 different parties hereto in separate counterparts, each of which when
 so
<PAGE>
 executed shall be deemed to be an original and shall be binding upon
 all parties, their successors and assigns, and all of which taken
 together shall constitute one and the same agreement.  Delivery of any
 executed counterpart of a signature page of this Agreement by telecopy
 shall be effective as delivery of a manually executed counterpart of
 this Agreement.

     SECTION 13.17  BINDING EFFECT; AMENDMENT AND RESTATEMENT;
 TERM OF AGREEMENT.

        (a)  This Agreement shall become effective at such time, on or
   after the Closing Date, that the conditions precedent set forth in
   Section 5.2 have been satisfied or waived and when it shall have been
   executed by each of the Credit Parties and the Administrative Agent,
   and the Administrative Agent shall have received copies of the
   signature pages hereto (telefaxed or otherwise) which, when taken
   together, bear the signatures of each Lender (including the Issuing
   Lender), and thereafter this Agreement shall be binding upon and
   inure to the benefit of each Credit Party, each Lender (including the
   Issuing Lender) and the Administrative Agent, together with their
   permitted successors and assigns.  The Credit Parties and the Lenders
   (including the Issuing Lender) each hereby agrees that, at such time
   as this Agreement shall have become effective pursuant to the
   terms of the immediately preceding sentence, (i) the Existing
                                   85
   Credit Agreement automatically shall be deemed amended and restated
   in its entirety by this Agreement, and any obligations and
   commitments outstanding under the Existing Credit Agreement shall be
   governed by the terms of this Agreement (as such obligations or
   commitments may be modified or amended hereunder) and (ii) all of the
   promissory notes executed by the Borrower in connection with the
   Existing Credit Agreement automatically shall be deemed substituted
   and replaced by the promissory notes executed in connection with
   this Agreement, and the Lenders holding such prior notes agree
   promptly to return them to the Borrower.

        (b)  This Agreement shall remain in effect from the Closing Date
     through and including the date upon which all Obligations (other
     than obligations owing by any Credit Party to any Lender or
     Affiliate of a Lender or the Administrative Agent under any Hedging
     Agreement) shall have been indefeasibly and irrevocably paid and
     satisfied in full. No termination of this Agreement shall affect
     the rights and obligations of the parties hereto arising prior to
     such termination.

     SECTION 13.18  INCONSISTENCIES WITH OTHER DOCUMENTS; INDEPENDENT
 EFFECT OF COVENANTS.

     (a)  In the event there is a conflict or inconsistency between this
 Agreement and any other Loan Document, the terms of this Agreement
 shall control, PROVIDED, that in the event there is a conflict or
 inconsistency between this Agreement and the letter agreements between
 the Administrative Agent and the Borrower dated as of October 20, 1999
 (the "LETTER AGREEMENTS"), which conflict or inconsistency relates
 solely to a matter affecting (i) the Administrative Agent and/or its
 Affiliates on one hand and (ii) the Borrower on the other, the Letter
 Agreements shall control.
<PAGE>
     (b)  The Borrower expressly acknowledges and agrees that each
 covenant contained in Article VIII and Article IX hereof shall be given
 independent effect.

     SECTION 13.19  INTERCREDITOR AGREEMENT.

     Each Person that becomes a Lender hereunder in compliance with
 Section 13.9 hereby agrees, promptly upon the request of the
 Administrative Agent, to execute a joinder agreement, in substantially
 the form of EXHIBIT I, to that certain Amended and Restated
 Intercreditor Agreement dated as of August 31, 1999 among the Banks
 party thereto, The Prudential Insurance Company of America, as holder
 of the 1993 Senior Notes (as defined therein), and the 1993 Senior
 Noteholders (as defined therein).  The Credit Parties, the Lenders and
 the Administrative Agent hereby agree that this Agreement shall
 constitute the "Credit Agreement" as defined and referred to in the
 Amended and Restated Intercreditor Agreement referred to above.

                         [Signature pages to follow]
                                   86

 Signature page to
 Credit Agreement in
 favor of Wausau-Mosinee
 Paper Corporation

     IN WITNESS WHEREOF, the parties hereto have caused their
 duly authorized officers to execute and deliver this Agreement
 as of the date first above written.

 BORROWER:                         WAUSAU-MOSINEE PAPER
                                   CORPORATION

                                   By:    GARY P. PETERSON
                                   Name:  Gary P. Peterson
                                   Title: Sr. V.P. - Finance

 GUARANTORS:                       RHINELANDER PAPER COMPANY, INC.

                                   By:    GARY P. PETERSON
                                   Name:  Gary P. Peterson
                                   Title: Sr. V.P. - Finance

                                   WAUSAU PAPERS OF NEW
                                   HAMPSHIRE, INC.

                                   By:    GARY P. PETERSON
                                   Name:  Gary P. Peterson
                                   Title: Sr. V.P. - Finance

<PAGE>
                                   WAUSAU PAPERS OTIS MILL, INC.

                                   By:    GARY P. PETERSON
                                   Name:  Gary P. Peterson
                                   Title: Sr. V.P. - Finance

                                  MOSINEE PAPER CORPORATION

                                  By:    GARY P. PETERSON
                                  Name:  Gary P. Peterson
                                  Title: Sr. V.P. - Finance

                                  THE SORG PAPER COMPANY

                                  By:    GARY P. PETERSON
                                  Name:  Gary P. Peterson
                                  Title: Sr. V.P. - Finance

                                  THE MIDDLETOWN HYDRAULIC
                                  COMPANY

                                  By:    GARY P. PETERSON
                                  Name:  Gary P. Peterson
                                  Title: Sr. V.P. - Finance

                                  MOSINEE HOLDINGS, INC.

                                  By:    GARY P. PETERSON
                                  Name:  Gary P. Peterson
                                  Title: Sr. V.P. - Finance

                                  BAY WEST PAPER CORPORATION

                                  By:    GARY P. PETERSON
                                  Name:  Gary P. Peterson
                                  Title: Sr. V.P. - Finance

 LENDERS:                         BANK OF AMERICA, N.A.,
                                  Individually and as Administrative
                                  Agent

                                  By:
                                  Name:
                                  Title:
<PAGE>
                                  BANK ONE, NA

                                  By:    JENNY A. GILPIN
                                  Name:  Jenny A. Gilpin
                                  Title: First Vice President

                                  M&I MARSHALL & ILSLEY BANK

                                  By:    DENNIS D. FINNIGAN
                                  Name:  Dennis D. Finnigan
                                  Title: Vice President

                                  HARRIS TRUST AND SAVINGS BANK

                                  By:    ANDREW K. PETERSON
                                  Name:  Andrew K. Peterson
                                  Title: Vice President

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