Document:

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                                 EXHIBIT 10 (G)

                          CONSULTING SERVICES AGREEMENT

         THIS AGREEMENT entered into as of the 7th day of December, 1999, by and
between PERRIGO COMPANY, a Michigan corporation with principal offices at 117
Water Street, Allegan, Michigan 49010 (herein "Perrigo"), and F. FOLSOM BELL, of
5528 Nakoma Drive, Dallas Texas 75209 (herein "Bell"); WITNESSETH:

         WHEREAS the Company desires to retain the services of Bell to assist
them in analyzing, evaluating, and negotiating certain designated merger and
acquisition transactions and to provide such other consulting services as may be
requested by the Company from time to time and Bell has agreed to provide such
services during the term, for the fees, and subject to the conditions set forth
in this Agreement.

         NOW, THEREFORE, in consideration of the mutual covenants set forth
below and subject to the conditions contained herein, Perrigo and Bell agree as
follows:

         1. Term. The term of this Agreement shall be one (1) year commencing on
January 1, 2000, and terminating on December 31, 2000. Thereafter this Agreement
shall continue in full force and effect until terminated in writing by either
party which in the case of Bell shall require thirty (30) days notice to be
given to Perrigo and in the case of Perrigo, shall require six (6) months notice
to be given to Bell.

         2. Consulting Services. During the term of this Agreement, Bell agrees
to devote such time, up to substantially all of his working time, as may be
required, to

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provide consulting services on matters relating to acquisitions and mergers and
on such other corporate and operational matters, including, but not limited to,
general financial matters, strategic issues, and international operations, as
his services may be requested. Bell shall report to the Chief Executive Officer
("CEO") of Perrigo during the term of this Agreement and all requests for Bell's
services shall be initiated by the CEO.

         Perrigo agrees to provide to Bell sufficient consulting assignments to
guarantee to Bell a minimum of 100 hours of consulting services each month
during the term of this Agreement or, in lieu thereof, to pay him the minimum
monthly consulting fee provided for in Section 3 below.

         The consulting services contemplated by this Agreement shall be
performed at such locations, including Perrigo's corporate offices in Allegan,
Michigan, as Perrigo may designate from time to time. During Bell's presence at
Perrigo's corporate offices he will be provided, at no cost to him, appropriate
office space and administrative support (including specifically administrative
and secretarial assistance) as may be required to enable him to successfully
complete his assigned work.

         3. Consulting Fees and Expenses. For his consulting services hereunder,
Perrigo shall pay Bell on a monthly basis the greater of (i) that amount
determined by multiplying the total number of hours of service performed by Bell
during the month by Two Hundred Dollars ($200.00) or (ii) Twenty Thousand
Dollars ($20,000.00). Notwithstanding the preceding, if Bell fails to perform at
least one

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hundred (100) hours of services in any month because he declines to perform any
services assigned to him or is unavailable to do so (whether because of sickness
or absence on vacation or for any other reason) then, for such month, he shall
only be paid the amount determined pursuant to (i) above.

         Bell shall also be reimbursed for all reasonable expenses incurred by
him in connection with his performance of consulting services hereunder. Such
expenses shall include travel, hotel, and meal (dinner only) expenses and other
direct out-of-pocket expenses incurred by Bell but shall not include office or
administrative expenses (including any administrative assistant that he may
elect to retain) incurred by Bell in connection with a separate office
maintained by Bell in Dallas, Texas, or elsewhere.

         The consulting fees and expenses shall be paid and reimbursed to Bell
within fifteen (15) days from the date of receipt by Perrigo of Bell's invoice.

         4. Early Termination. This Agreement may or shall be, as the case may
be, terminated prior to the normal expiration date as follows:

            (a.) By Bell on thirty (30) days prior written notice to Perrigo.

            (b.) By Perrigo in the event of the continued refusal by Bell to
                 perform services reasonably assigned to him by the CEO that are
                 of the type described in Section 2 above. A termination by
                 Perrigo under this subsection (b.) may not take place unless
                 and until written notice is given to Bell specifying the basis
                 for the proposed termination and Bell is provided a period of
                 ten (10)

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                 days in which to commence performance of the services that are
                 the subject of the proposed termination.

            (c.) By either party on written notice to the other party in the
                 event of action taken or the conduct of one of the parties that
                 materially damages the business reputation of the party
                 terminating the Agreement.

            (d.) By either party by written notice to the other party in the
                 event of the filing of a voluntary petition in bankruptcy by
                 the other party or the filing by a third party of a petition in
                 bankruptcy against such other party that is not dismissed
                 within sixty (60) days from the date of filing.

            (e.) The death or physical or mental disability of Bell (which shall
                 be defined as the inability of Bell to perform any services
                 under this Agreement for a period of sixty (60) days because of
                 injury or physical or mental illness as determined by the Board
                 of Directors of Perrigo).

         In the event of an early termination of this Agreement pursuant to this
Section 4, the rights and duties of the parties hereto shall cease as of the
date of such termination and neither party shall have any further obligation to
the other party hereunder from and after such date.

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         5. Relationship of the Parties. The relationship between Perrigo and
Bell will be that of principal and agent; provided, however, that except as
otherwise provided by Perrigo in writing, Bell is not granted authority to
assume or create any obligation or responsibility, express or implied, on behalf
of or in the name of Perrigo, or to bind Perrigo in any manner whatsoever. As a
consultant, Bell will not participate in any of the employee benefit plans
offered by Perrigo and Perrigo shall not withhold any local, state, or federal
taxes from the payments made to Bell under this Agreement, all tax liability in
respect of Bell's receipt of compensation hereunder being the sole and exclusive
responsibility of Bell.

         6. Indemnification. In consideration for Bell's agreement to provide
consulting services to Perrigo under this Agreement, Perrigo agrees to and has
on the date hereof entered into an Indemnification Agreement with Bell in the
form of the Agreement attached hereto as Exhibit 1, under and pursuant to which
Perrigo agrees to indemnify Bell and to provide to him in advance all amounts
reasonably incurred by him in the manner contemplated thereunder. The obligation
of Perrigo under this Section 5 shall survive the termination of this Agreement.

         7. Notices. All notices and other communications hereunder shall be in
writing and shall be deemed to have been given if delivered or mailed postage
prepaid:

            (a)  If to Bell:

                 F. Folsom Bell
                 5528 Nakoma Drive
                 Dallas, Texas 75209

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            (b)  If to Perrigo:

                 Perrigo Company
                 117 Water Street
                 Allegan, Michigan 49010
                 Attention:  Chief Executive Officer

         8. Entire Agreement. This Agreement contains the entire agreement of
the parties with respect to the subject matter hereof. It may not be changed
orally but only by an agreement in writing signed by the party against whom
enforcement of any waiver, change, modification, extension or discharge is
sought.

         9. Governing Law. This Agreement shall be governed by the laws of the
state of Michigan.

         THIS AGREEMENT EXECUTED as of the day and year first above written.

                                         PERRIGO COMPANY

                                         By
                                           ------------------------------------

                                         Its
                                            -----------------------------------

                                         --------------------------------------
                                         F. Folsom Bell

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                                    EXHIBIT 1

                               INDEMNITY AGREEMENT

         AGREEMENT made as of the 7th day of December, 1999, by and among
PERRIGO COMPANY, a Michigan corporation ("Perrigo") and F. FOLSOM BELL
("Indemnitee") with respect to the following:

                              W I T N E S S E T H :
         WHEREAS Perrigo desires to retain Indemnitee as a consultant to provide
assistance to Perrigo in connection with merger and acquisition matters and in
connection with such other matters, including, but not limited to, general
financial matters, strategic issues, and international operations as Perrigo may
request from time to time; and

         WHEREAS Indemnitee has agreed to provide to Perrigo the consulting
services requested of him provided that, in part, Perrigo agrees to indemnify
him to the extent and in the manner provided in this Agreement.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth, the parties agree as follows:

         1. Definitions. As used herein, the following terms are defined as
follows:

            (a) Expenses. Attorneys' and accountants' fees and all the other
         costs, expenses and obligations actually and reasonably paid or
         incurred by or on behalf of Indemnitee in connection with
         investigating, defending, participating or being a witness in, or
         preparing to defend, participate or be a witness in any Proceeding or
         appeal therefrom.

            (b) Proceeding. Any threatened, pending or completed action, suit or
         proceeding, or any inquiry or investigation, whether civil, criminal,
         administrative or investigative and whether formal or informal in which
         Indemnitee may hereafter become involved as a party, a witness, or
         otherwise, by reason of the fact that Indemnitee provides or will be
         providing consulting services to Perrigo under the Consulting
         Agreement.

         2. Indemnification. Subject to the terms and conditions of this
Agreement, Perrigo hereby agrees that in the event Indemnitee is or becomes a
party to or witness or other participant in, or is threatened to be made a party
to or witness or other participant in a Proceeding, Perrigo shall indemnify
Indemnitee to the fullest extent permitted by law and as provided in this
Agreement, pursuant to the authorization of the Michigan Business Corporation
Act, against any and all Expenses incurred with respect to such Proceeding and
any judgments, fines, or

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penalties awarded or assessed in the final adjudications of such Proceedings or
any amounts paid in settlement of such ("Indemnified Amounts"). Perrigo shall
reimburse Indemnitee as soon as practicable, but in any event not later than
thirty (30) days after written demand is presented to Perrigo for any
Indemnified Amounts paid or payable by Indemnitee.

         3. Condition Precedent to Indemnification. Indemnitee, as a condition
precedent to indemnification under this Agreement, shall tender written notice
to Perrigo as soon as practicable of any claims made against him for which
indemnification will or likely will be sought under the terms of this Agreement.
Notice to Perrigo shall be directed to the attention of the Chairman of the
Board or General Counsel of Perrigo at its corporate offices in Allegan,
Michigan. In addition, Indemnitee shall give Perrigo such information and
provide such cooperation as may be reasonably necessary and requested by
Perrigo.

         4. Consent of Perrigo. No settlement of a claim in any Proceeding shall
be agreed to and no amounts payable in a settlement of a claim in any Proceeding
for which indemnifications will be sought hereunder shall be paid by Indemnitee
without Perrigo's written consent, which consent shall not be unreasonably
withheld.

         5. Limitations on Indemnity. Perrigo shall not be liable under this
Agreement to make any payment in connection with any Proceeding:

            (a) for which payment is made to or on behalf of Indemnitee under a
         valid and collectible insurance policy, except for any excess beyond
         the amount of payment under such insurance policy;

            (b) for which Indemnitee is indemnified by Perrigo otherwise than
         pursuant to this Agreement;

            (c) based upon or attributable to any intentional misconduct or a
         knowing violation of law by Indemnitee;

            (d) with respect to which a final judgment or other final
         adjudication of a court of competent jurisdiction establishes or
         determines that Indemnitee's actions or conduct was in bad faith and in
         opposition to the best interest of Perrigo or its shareholders;

            (e) with respect to which a final decision of a court of competent
         jurisdiction determines that indemnification of Indemnitee is not
         lawful under the circumstances.

            (f) for which payment of indemnification by Perrigo is otherwise
         prohibited by applicable law.

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         6. Payment of Costs and Expenses in Advance. If requested by
Indemnitee, and notwithstanding anything in this Agreement expressed or implied
to the contrary, Perrigo shall pay (within fifteen (15) days of such written
request) any and all Expenses incurred by Indemnitee in defending or
investigating any claim in any Proceeding, in advance of the final disposition
of such claim, upon the receipt of a written undertaking by Indemnitee to repay
any such amounts if it is ultimately determined that Indemnitee is not entitled
to indemnification by Perrigo.

         7. Partial Indemnification. In the event Indemnitee is entitled to
indemnification hereunder for a portion of the Expenses, or any Indemnified
Amounts incurred by him in the investigation, defense, appeal or settlement of
any claim in any Proceeding but not, however, for all of the total amount
thereof, Perrigo shall indemnify Indemnitee for the portion thereof to which
Indemnitee is entitled.

         8. Subrogation. In the event of payment under this Agreement, Perrigo
shall be subrogated to the extent of such payment to all of the rights of
recovery of Indemnitee, who shall execute all papers required and shall do
everything that may be necessary to secure such rights, including the execution
of such documents necessary to enable Perrigo effectively to bring suit or
enforce such rights.

         9. No Presumption. For purposes of this Agreement, the termination of
any action, suit or proceeding by judgment order or settlement (whether with or
without court approval), shall not create a presumption that Indemnitee did not
meet any particular standard of conduct or have any particular belief or that a
court has determined that indemnification is not permitted by applicable law.

         10. Specific Determination of Entitlement to Indemnification. In the
event Indemnitee is found liable to Perrigo as a result of any claim brought by
or in the right of Perrigo in any Proceeding, whether and the extent to which
Indemnitee is nevertheless entitled to indemnification under this Agreement
shall be predicated on a determination that indemnification is appropriate in
light of the circumstances of the case and applicable legal standards, which
determination shall be made, at the option of Indemnitee, by: (a) majority vote
of a committee of two (2) or more disinterested directors appointed by the Board
of Directors; (b) independent legal counsel in a written opinion; or (c) the
court in which the Proceeding was brought.

         11. Liability Insurance. To the extent Perrigo maintains an insurance
policy or policies providing liability insurance for directors and officers,
Indemnitee shall be covered by such policy or policies, in accordance with its
or their terms, to the maximum extent of the coverage permitted to be extended
to any consultant to Perrigo.

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         12. Scope of Agreement. The rights of Indemnitee hereunder shall be in
addition to any other rights Indemnitee may have under any provision of
Perrigo's Articles of Incorporation, Bylaws or the laws of the state of
Michigan.

         13. Amendment, Termination and Waiver. This Agreement may be amended,
modified or terminated and any of the terms and conditions herein may be waived
only by the written consent of the parties hereto. The failure of any party at
any time or times to require performance of any provisions contained herein
shall in no manner affect the right of such party at any later time to enforce
the same.

         14. Binding Effect and Assignment. This Agreement shall be binding upon
and inure to the benefit of the Indemnitee and his personal representatives,
heirs and assigns, and Perrigo and its successors and assigns, including any
direct or indirect successor of Perrigo by purchase, merger, consolidation or
otherwise to all or substantially all of the business and/or assets of Perrigo
provided, however, that no assignment of any rights or delegation of obligations
provided for herein may be made by either party without the express written
consent of the other party. This Agreement shall continue in effect so long as
Indemnitee is providing services to Perrigo under the Consulting Agreement and
shall continue thereafter for a period terminating two (2) years following the
duration of any applicable period of limitations for commencing any Proceeding.

         15. Severability. Any provision of this Agreement which may be
prohibited by law, or otherwise held invalid by a court of competent
jurisdiction, shall be ineffective only to the extent of such prohibition or
invalidity and shall not invalidate or otherwise render ineffective the
remaining provisions of this Agreement.

         16. Governing Law. The parties hereto acknowledge and agree that this
Agreement shall be governed by, construed and enforced in accordance with the
laws, and in the courts, of the state of Michigan.

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

                                       PERRIGO COMPANY

                                       By _____________________________

                                          Its _________________________

                                       INDEMNITEE

                                       --------------------------------
                                       F. Folsom Bell

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1

                                                                 EXHIBIT (10)(n)

AMENDED AND RESTATED COMPETITIVE ADVANCE AND REVOLVING CREDIT FACILITY, dated as
of January 3, 2000, among DELPHI AUTOMOTIVE SYSTEMS CORPORATION, a Delaware
corporation (the "Borrower"), the several banks and other financial institutions
from time to time parties to this Agreement (the "Lenders"), BANK OF AMERICA,
NATIONAL ASSOCIATION, CITIBANK, N.A., DEUTSCHE BANK AG NEW YORK BRANCH, BARCLAYS
BANK PLC and BANQUE NATIONALE DE PARIS, as syndication agents (collectively, the
"Syndication Agents"), and THE CHASE MANHATTAN BANK, as administrative agent for
the Lenders hereunder (in such capacity, the "Administrative Agent").

         The parties hereto hereby agree as follows:

                              SECTION . DEFINITIONS

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

         "ABR": for any day, a rate per annum (rounded upwards, if necessary, to
    the next 1/16 of 1%) equal to the greater of (a) the Prime Rate in effect on
    such day, (b) the Federal Funds Effective Rate in effect on such day plus
    1/2 of 1% and (c) the Base CD Rate in effect on such day plus 1%. "Base CD
    Rate" shall mean the sum of (a) the product of (i) the Three-Month Secondary
    CD Rate and (ii) a fraction, the numerator of which is one and the
    denominator of which is one minus the C/D Reserve Percentage and (b) the C/D
    Assessment Rate; "Three-Month Secondary CD Rate" shall mean, for any day,
    the secondary market rate for three-month certificates of deposit reported
    as being in effect on such day (or, if such day shall not be a Business Day,
    the next preceding Business Day) by the Board through the public information
    telephone line of the Federal Reserve Bank of New York (which rate will,
    under the current practices of the Board, be published in Federal Reserve
    Statistical Release H.15(519) during the week following such day), or, if
    such rate shall not be so reported on such day or such next preceding
    Business Day, the average of the secondary market quotations for three-month
    certificates of deposit of major money center banks in New York City
    received at approximately 10:00 A.M., New York City time, on such day (or,
    if such day shall not be a Business Day, on the next preceding Business Day)
    by the Administrative Agent from three New York City negotiable certificate
    of deposit dealers of recognized standing selected by it. If for any reason
    the Administrative Agent shall have determined (which determination shall be
    conclusive absent manifest error) that it is unable to ascertain the Federal
    Funds Effective Rate for any reason, the ABR shall be determined without
    regard to clause (b) of the first sentence of this definition until the
    circumstances giving rise to such inability no longer exist. Any change in
    the ABR due to a change in the Prime Rate, the Federal Funds Effective Rate
    or the Three-Month Secondary CD Rate shall be effective as of the opening of
    business on the effective day of such change in the Prime Rate, the Federal
    Funds Effective Rate or the Three-Month Secondary CD Rate, respectively.

         "ABR Loans": Loans the rate of interest applicable to which is based
    upon the ABR.

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2

         "Agreement": this Agreement, as amended, supplemented or otherwise
    modified from time to time.

         "Applicable Margin": as defined in subsection 2.9(e).

         "Assignee": as defined in subsection 9.6(c).

         "Available Commitment": as to any Lender at any time, the excess, if
    any, of such Lender's Commitment over such Lender's Revolving Credit Loans.

         "Board": the Board of Governors of the Federal Reserve System of the
    United States (or any successor).

         "Borrowing": a group of Loans of a single Type made by the Lenders (or,
    in the case of a Competitive Borrowing, by the Lender or Lenders whose
    Competitive Bids have been accepted pursuant to subsection 2.3) on a single
    date and as to which a single Interest Period is in effect.

         "Business Day": a day other than a Saturday, Sunday or other day on
    which commercial banks in New York City are authorized or required by law to
    close; provided that when used in connection with a Eurodollar Loan, the
    term "Business Day" shall also exclude any day on which banks are not open
    for dealings in dollar deposits in the London interbank market.

         "C/D Assessment Rate": for any day as applied to any ABR Loan, the
    annual assessment rate in effect on such day which is payable by a member of
    the Bank Insurance Fund maintained by the Federal Deposit Insurance
    Corporation (the "FDIC") classified as well-capitalized and within
    supervisory subgroup "B" (or a comparable successor assessment risk
    classification) within the meaning of 12 C.F.R. ss. 327.4 (or any successor
    provision) to the FDIC (or any successor) for the FDIC's (or such
    successor's) insuring time deposits at offices of such institution in the
    United States.

         "C/D Reserve Percentage": for any day as applied to any ABR Loan, that
    percentage (expressed as a decimal) which is in effect on such day, as
    prescribed by the Board, for determining the maximum reserve requirement for
    a Depositary Institution (as defined in Regulation D of the Board as in
    effect from time to time) in respect of new non-personal time deposits in
    Dollars having a maturity of 30 days or more.

         "Chase": The Chase Manhattan Bank.

         "Closing Date": the date on which each of the conditions precedent set
    forth in subsection 4.1 shall have been satisfied.

         "Code": the Internal Revenue Code of 1986, as amended from time to
    time.

         "Commitment": as to any Lender, the obligation of such Lender to make
    Revolving Credit Loans to the Borrower hereunder in an aggregate principal
    amount at any one time outstanding not to exceed the amount set forth
    opposite such Lender's name on Schedule I, as such amount may be reduced
    from time to time in accordance with the provisions of this Agreement.

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3

         "Commitment Percentage": as to any Lender at any time, the percentage
    which such Lender's Commitment then constitutes of the aggregate Commitments
    (or, at any time after the Commitments shall have expired or terminated, the
    percentage which the aggregate principal amount of such Lender's Loans then
    outstanding constitutes of the aggregate principal amount of the Loans then
    outstanding).

         "Commitment Period": the period from and including the date hereof to
    but not including the Termination Date or such earlier date on which the
    Commitments shall terminate as provided herein.

         "Competitive Bid": an offer by a Lender to make a Competitive Loan
    pursuant to subsection 2.3.

         "Competitive Bid Accept/Reject Letter": a notification made by the
    Borrower pursuant to subsection 2.3(f) in the form of Exhibit D.

         "Competitive Bid Lenders": the Lenders specified on Schedule I as being
    "Competitive Bid Lenders."

         "Competitive Bid Rate": as to any Competitive Bid made by a Lender
    pursuant to subsection 2.3, (i) in the case of a Eurodollar Competitive
    Loan, the Eurodollar Rate plus (or minus) the Margin, and (ii) in the case
    of a Fixed Rate Loan, the fixed rate of interest offered by the Lender
    making such Competitive Bid.

         "Competitive Bid Request": a request made pursuant to subsection 2.3(b)
    in the form of Exhibit A.

         "Competitive Borrowing": a Borrowing consisting of a Competitive Loan
    or concurrent Competitive Loans from the Lender or Lenders whose Competitive
    Bids for such Borrowing have been accepted by a Borrower under the bidding
    procedure described in subsection 2.3.

         "Competitive Loan": a Loan (which shall be a Eurodollar Competitive
    Loan or a Fixed Rate Loan) made by a Lender pursuant to the bidding
    procedure described in subsection 2.3.

         "Confidential Information Memorandum": the Confidential Information
    Memorandum dated November 1999 and furnished to the Lenders.

         "Consolidated EBITDA": for any period, Consolidated Net Income for such
    period plus, without duplication and to the extent reflected as a charge in
    the statement of such Consolidated Net Income for such period, the sum of
    (a) income tax expense, (b) interest expense (other than interest expense or
    discount during such period attributable to Permitted Receivables Financing
    with an aggregate principal amount not in excess of $1,500,000,000), (c)
    amortization or writeoff of debt discount and debt issuance costs and
    commissions, discounts and other fees and charges associated with
    Indebtedness (including the Loans), (d) depreciation and amortization
    expense, (e) amortization of intangibles (including, but not limited to,
    goodwill) and organization costs and (f) any

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4

    extraordinary, unusual or non-recurring non-cash expenses or losses, and
    minus, to the extent included in the statement of such Consolidated Net
    Income for such period, the sum of (a) interest income and (b) any
    extraordinary, unusual or non-recurring income or gains, all as determined
    on a consolidated basis. For the purposes of calculating Consolidated EBITDA
    for any period of four consecutive fiscal quarters (each, a "Reference
    Period") pursuant to any determination of the Consolidated Leverage Ratio,
    if during such Reference Period the Borrower or any Subsidiary shall have
    made a Material Acquisition, Consolidated EBITDA for such Reference Period
    shall be calculated after giving pro forma effect thereto as if such
    Material Acquisition occurred on the first day of such Reference Period. As
    used in this paragraph, "Material Acquisition" means any acquisition of
    property or series of related acquisitions of property that involves the
    payment of consideration (including, without limitation, the assumption of
    debt) by the Borrower and its Subsidiaries in excess of $10,000,000.

         "Consolidated Leverage Ratio": as at any day, the ratio of (a)
    Consolidated Total Debt on such day (other than any Permitted Receivables
    Financing outstanding on such date in an aggregate principal amount not to
    exceed $1,500,000,000 and any other Non-Recourse Debt not related to
    accounts receivable of the Borrower or any of its Subsidiaries) to (b)
    Consolidated EBITDA for the period of four fiscal quarters ending on or most
    recently prior to such day.

         "Consolidated Net Income": for any period, the consolidated net income
    (or loss) of the Borrower and its Subsidiaries, determined on a consolidated
    basis in accordance with GAAP.

         "Consolidated Total Assets": at any date, all amounts that would, in
    conformity with GAAP, be set forth opposite the caption "total assets" (or
    any like caption) on a consolidated balance sheet of the Borrower and its
    Subsidiaries at such date.

         "Consolidated Total Debt": at any date and without duplication, (i) the
    aggregate principal amount of (i) all Indebtedness of the Borrower and its
    Subsidiaries on a consolidated basis and (ii) all guarantees by the Borrower
    or any of its Subsidiaries of Indebtedness on a consolidated basis of any
    other Person (other than the Borrower or a Subsidiary) at such date.

         "Contractual Obligation": as to any Person, any provision of any
    security issued by such Person or of any agreement, instrument or other
    undertaking to which such Person is a party or by which it or any of its
    property is bound.

         "Default": any of the events specified in Section 7, whether or not any
    requirement for the giving of notice, the lapse of time, or both, or any
    other condition, has been satisfied.

         "Dollars" and "$": dollars in lawful currency of the United States of
    America.

         "ERISA": the Employee Retirement Income Security Act of 1974, as
    amended from time to time.

<PAGE>   5

5

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

         "Environmental Liability" means any liability, contingent or otherwise
    (including any liability for damages, costs of environmental remediation,
    fines, penalties or indemnities), of the Borrower or any Subsidiary directly
    or indirectly resulting from or based upon (a) violation of any
    Environmental Law, (b) the generation, use, handling, transportation,
    storage, treatment or disposal of any Hazardous Materials, (c) exposure to
    any Hazardous Materials, (d) the release or threatened release of any
    Hazardous Materials into the environment or (e) any contract, agreement or
    other consensual arrangement pursuant to which liability is assumed or
    imposed with respect to any of the foregoing.

         "Eurocurrency Reserve Requirements": for any day as applied to a
    Eurodollar Loan, the aggregate (without duplication) of the maximum rates
    (expressed as a decimal fraction) of reserve requirements in effect on such
    day (including, without limitation, basic, supplemental, marginal and
    emergency reserves under any regulations of the Board or other Governmental
    Authority having jurisdiction with respect thereto) dealing with reserve
    requirements prescribed for eurocurrency funding (currently referred to as
    "Eurocurrency liabilities" in Regulation D of the Board) maintained by a
    member bank of such System.

         "Eurodollar Borrowing": a Borrowing comprised of Eurodollar Loans.

         "Eurodollar Competitive Loan": any Competitive Loan bearing interest at
    a rate determined by reference to the Eurodollar Rate.

         "Eurodollar Loan": any Eurodollar Competitive Loan or Eurodollar
    Revolving Credit Loan.

         "Eurodollar Rate": with respect to each day during each Interest Period
    pertaining to a Eurodollar Loan, the rate of interest determined on the
    basis of the rate for deposits in Dollars for a period equal to such
    Interest Period commencing on the first day of such Interest Period
    appearing on Page 3750 of the Dow Jones Markets Page as of 11:00 A.M.,
    London time, two Business Days prior to the beginning of such Interest
    Period. In the event that such rate does not appear on Page 3750 of the Dow
    Jones Markets Page (or otherwise on such service), the "Eurodollar Rate"
    shall be determined by reference to such other publicly available service
    for displaying eurodollar rates as may be agreed upon by the Administrative
    Agent and the Borrower or, in the absence of such agreement, the "Eurodollar
    Rate" shall instead be the rate per annum equal to the average (rounded
    upward to the nearest 1/16th of 1%) of the respective rates notified to the
    Administrative Agent by each of the Reference Lenders as the rate at which
    such Reference Lender is offered Dollar deposits at or about 10:00 A.M., New
    York City time, two Business Days prior to the beginning of such Interest
    Period in the interbank eurodollar market where the eurodollar and foreign
    currency and exchange operations in respect of its Eurodollar Loans are then
    being conducted for delivery on the first day of such Interest Period for

<PAGE>   6

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    the number of days comprised therein and in an amount comparable to the
    amount of its Eurodollar Loan to be outstanding during such Interest Period.

         "Eurodollar Reserve Rate": with respect to each day during each
    Interest Period pertaining to a Eurodollar Loan, a rate per annum determined
    for such day in accordance with the following formula (rounded upward to the
    nearest 1/100th of 1%):

                                 Eurodollar Rate
                    ----------------------------------------
                    1.00 - Eurocurrency Reserve Requirements

         "Eurodollar Revolving Credit Loan": any Revolving Credit Loan bearing
    interest at a rate determined by reference to the Eurodollar Rate.

         "Event of Default": any of the events specified in Section 7; provided
    that any requirement for the giving of notice, the lapse of time, or both,
    or any other condition, has been satisfied.

         "Federal Funds Effective Rate" shall mean, for any day, the weighted
    average of the rates on overnight federal funds transactions with members of
    the Federal Reserve System arranged by federal funds brokers, as published
    on the next succeeding Business Day by the Federal Reserve Bank of New York,
    or, if such rate is not so published for any day which is a Business Day,
    the average of the quotations for such day of such rates on such
    transactions received by the Administrative Agent from three federal funds
    brokers of recognized standing selected by it.

         "Financial Officer": with respect to any Person, the chief financial
    officer, principal accounting officer, a financial vice president, treasurer
    or assistant treasurer of such Person.

         "Fixed Rate Borrowing": a Borrowing comprised of Fixed Rate Loans.

         "Fixed Rate Loan": any Competitive Loan bearing interest at a fixed
    percentage rate per annum specified by the Lender making such Loan in its
    Competitive Bid.

         "GAAP": generally accepted accounting principles in the United States
    of America as in effect from time to time and as applied by the Borrower in
    the preparation of its most recent financial statements delivered pursuant
    to subsection 3.1(b); provided that, if the Borrower notifies the
    Administrative Agent that the Borrower requests an amendment to any
    provision hereof to eliminate the effect of any change occurring after the
    date hereof in GAAP or in the application thereof on the operation of such
    provision (or if the Administrative Agent notifies the Borrower that the
    Majority Lenders request an amendment to any provision hereof for such
    purpose), regardless of whether any such notice is given before or after
    such change in GAAP or in the application thereof, then such provision shall
    be interpreted on the basis of GAAP as in effect and applied immediately
    before such change shall have become effective until such notice shall have
    been withdrawn or such provision amended in accordance herewith.

<PAGE>   7

7

         "Governmental Authority": any nation or government, any state or other
    political subdivision thereof and any entity exercising executive,
    legislative, judicial, regulatory or administrative functions of government.

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

         "Indebtedness": of any Person at any date, the amount outstanding on
    such date under notes, bonds, debentures or other similar evidences of
    indebtedness for money borrowed (including, without limitation, indebtedness
    for borrowed money evidenced by a loan account).

         "Interest Payment Date": (a) as to any ABR Loan, the last day of each
    March, June, September and December to occur while such Loan is outstanding
    and on the date such Loan is paid in full, (b) as to any Eurodollar Loan or
    Fixed Rate Loan, the last day of the Interest Period applicable thereto and
    (c) as to any Eurodollar Loan or Fixed Rate Loan, having an Interest Period
    longer than three months or 90 days, as the case may be, each day which is
    three months or 90 days, as the case may be, after the first day of the
    Interest Period applicable thereto; provided that, in addition to the
    foregoing, each of (x) the date upon which both the Commitments have been
    terminated and the Loans have been paid in full and (y) the Termination Date
    shall be deemed to be an "Interest Payment Date" with respect to any
    interest which is then accrued hereunder.

         "Interest Period": () with respect to any Eurodollar Loan:

              () initially, the period commencing on the borrowing or conversion
         date, as the case may be, with respect to such Eurodollar Loan and
         ending one, two, three or six (or if available to all the Lenders (or,
         in the case of Eurodollar Competitive Loans, the Lender making such
         Loans) nine) months thereafter, as selected by the Borrower in its
         notice of borrowing or notice of conversion, as the case may be, given
         with respect thereto; and

              () thereafter, each period commencing on the last day of the next
         preceding Interest Period applicable to such Eurodollar Loan and ending
         one, two, three or six (or if available to all the Lenders (or, in the
         case of Eurodollar Competitive Loans, the Lender making such Loans)
         nine) months thereafter, as selected by the Borrower by irrevocable
         notice to the Administrative Agent not less than three Business Days
         prior to the last day of the then current Interest Period with respect
         thereto; and

                   () with respect to any Fixed Rate Loan, the period commencing
    on the borrowing date with respect to such Fixed Rate Loan and ending such
    number of days thereafter (which shall be not less than seven days or more
    than 180 days after the date of such borrowing) as selected by the Borrower
    in its Competitive Bid Request given with respect thereto.

<PAGE>   8

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    provided that all of the foregoing provisions relating to Interest Periods
    are subject to the following:

              () if any Interest Period would otherwise end on a day that is not
         a Business Day, such Interest Period shall be extended to the next
         succeeding Business Day unless, in the case of an Interest Period
         pertaining to a Eurodollar Loan, the result of such extension would be
         to carry such Interest Period into another calendar month in which
         event such Interest Period shall end on the immediately preceding
         Business Day; and

              () any Interest Period that begins on the last Business Day of a
         calendar month (or on a day for which there is no numerically
         corresponding day in the calendar month at the end of such Interest
         Period) shall end on the last Business Day of a calendar month.

    Notwithstanding anything to the contrary contained in this Agreement, no
    Interest Period shall be selected by the Borrower which ends on a date after
    the Termination Date.

         "Invitation for Competitive Bids": an invitation made by the Borrower
    pursuant to subsection 2.3(c) in the form of Exhibit B.

         "Level I Status": exists at any date if, at such date, the Borrower has
    senior unsecured long-term debt outstanding, without third-party credit
    enhancement, which is rated A- or better by S&P and A3 or better by Moody's;
    provided that if either S&P or Moody's shall cease to issue ratings of debt
    securities generally, then the Administrative Agent and the Borrower shall
    negotiate in good faith to agree upon a substitute rating agency (and to
    correlate the system of ratings of such substitute rating agency with that
    of the rating agency for which it is substituting) and (a) until such
    substitute rating agency is agreed upon, the foregoing test may be satisfied
    on the basis of the rating assigned by the other such rating agency and (b)
    after such substitute rating agency is agreed upon, the foregoing test may
    be satisfied on the basis of the rating assigned by the other rating agency
    and such substitute rating agency.

         "Level II Status": exists at any date if, at such date, Level I Status
    does not exist and the Borrower has senior unsecured long-term debt
    outstanding, without third-party credit enhancement, which is rated BBB+ or
    better by S&P and Baa1 or better by Moody's; provided that if either S&P or
    Moody's shall cease to issue ratings of debt securities generally, then the
    Administrative Agent and the Borrower shall negotiate in good faith to agree
    upon a substitute rating agency (and to correlate the system of ratings of
    such substitute rating agency with that of the rating agency for which it is
    substituting) and (a) until such substitute rating agency is agreed upon,
    the foregoing test may be satisfied on the basis of the rating assigned by
    the other such rating agency and (b) after such substitute rating agency is
    agreed upon, the foregoing test may be satisfied on the basis of the rating
    assigned by the other rating agency and such substitute rating agency.

         "Level III Status": exists at any date if, at such date, neither Level
    I Status nor Level II Status exists and the Borrower has senior unsecured
    long-term debt outstanding, without third party credit enhancement, which is
    rated BBB or better by S&P and Baa2 or better by Moody's; provided that if
    either S&P or Moody's shall cease to issue ratings of

<PAGE>   9

9

    debt securities generally, then the Administrative Agent and the Borrower
    shall negotiate in good faith to agree upon a substitute rating agency (and
    to correlate the system of ratings of such substitute rating agency with
    that of the rating agency for which it is substituting) and (a) until such
    substitute rating agency is agreed upon, the foregoing test may be satisfied
    on the basis of the rating assigned by the other such rating agency and (b)
    after such substitute rating agency is agreed upon, the foregoing test may
    be satisfied on the basis of the rating assigned by the other rating agency
    and such substitute rating agency.

         "Level IV Status": exists at any date if, at such date, none of Level I
    Status, Level II Status or Level III Status exists and the Borrower has
    senior unsecured long-term debt outstanding, without third party credit
    enhancement, which is rated BBB- or better by S&P and Baa3 or better by
    Moody's; provided that if either S&P or Moody's shall cease to issue ratings
    of debt securities generally, then the Administrative Agent and the Borrower
    shall negotiate in good faith to agree upon a substitute rating agency (and
    to correlate the system of ratings of such substitute rating agency with
    that of the rating agency for which it is substituting) and (a) until such
    substitute rating agency is agreed upon, the foregoing test may be satisfied
    on the basis of the rating assigned by the other such rating agency and (b)
    after such substitute rating agency is agreed upon, the foregoing test may
    be satisfied on the basis of the rating assigned by the other rating agency
    and such substitute rating agency.

         "Level V Status": exists at any date if, at such date, none of Level I
    Status, Level II Status, Level III Status or Level IV Status exists.

              "Lien":  any mortgage, pledge, lien, security interest,
    conditional sale or other title retention agreement or other similar
    encumbrance.

         "Loan": a Competitive Loan or a Revolving Credit Loan, as the context
    shall require; collectively, the "Loans."

         "Majority Lenders": at any time, Lenders whose Commitment Percentages
    represent at least 51% of the aggregate Commitments or, if the Commitments
    are terminated or for purposes of acceleration pursuant to Section 7,
    Lenders holding Loans representing at least 51% of the aggregate principal
    amount of all Loans outstanding.

         "Margin": as to any Eurodollar Competitive Loan, the margin to be added
    to or subtracted from the Eurodollar Rate in order to determine the interest
    rate applicable to such Loan, as specified in the Competitive Bid relating
    to such Loan.

         "Material Adverse Effect": a material adverse effect on (a) the
    financial condition of the Borrower and its Subsidiaries taken as a whole or
    (b) the validity or enforceability of this Agreement or the rights or
    remedies of the Administrative Agent and the Lenders hereunder.

         "Material Agreements": the agreements set forth on Schedule III.

         "Moody's": Moody's Investors Service, Inc. and its successors.

<PAGE>   10

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         "Non-Recourse Debt": all Indebtedness which, in accordance with GAAP,
    is not required to be recognized on a consolidated balance sheet of the
    Borrower as a liability.

         "Original Closing Date": January 4, 1999.

         "Participant": as defined in subsection 9.6(b).

         "Permitted Receivables Financing": at any date of determination, the
    aggregate amount of any Non-Recourse Debt outstanding on such date relating
    to securitizations or other similar off-balance sheet financings of accounts
    receivable of the Borrower or any of its Subsidiaries.

         "Person": an individual, partnership, corporation, business trust,
    joint stock company, trust, unincorporated association, joint venture,
    Governmental Authority or other entity of whatever nature.

         "Prime Rate": the rate of interest per annum equal to the prime rate
    publicly announced by the majority of the Reference Lenders as its prime
    rate (or similar base rate) in effect at its principal office.

         "Reference Lenders": The Chase Manhattan Bank, Bank of America,
    National Association, Citibank, N.A., Morgan Guaranty Trust Company and the
    Bank of New York.

         "Register": as defined in subsection 9.6(d).

         "Requirement of Law": as to any Person, any law, treaty, rule or
    regulation or determination of an arbitrator or a court or other
    Governmental Authority, in each case applicable to or binding upon such
    Person or any of its property or to which such Person or any of its property
    is subject.

         "Revolving Credit Loans": as defined in subsection 2.1(a) and shall in
    any event include any Loans that remain outstanding after the Termination
    Date pursuant to subsection 2.8.

         "Sale-Leasebacks": as defined in subsection 6.4.

         "S&P": Standard & Poor's Corporation and its successors.

         "Significant Subsidiary": at any time, any Subsidiary of the Borrower
    which has at least 5% of the consolidated revenues of the Borrower and its
    Subsidiaries at such time as reflected in the most recent annual audited
    consolidated financial statements of the Borrower.

         "Status": as to the Borrower, the existence of Level I Status, Level II
    Status, Level III Status, Level IV Status or Level V Status, as the case may
    be.

                   "Subsidiary": as to any Person, a corporation, partnership,
limited liability company or other entity of which shares of stock or other
ownership interests having

<PAGE>   11

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    ordinary voting power (other than stock or such other ownership interests
    having such power only by reason of the happening of a contingency) to elect
    a majority of the board of directors or other managers of such corporation,
    partnership or other entity are at the time owned by such Person, or by one
    or more Subsidiaries, or by such Person and one or more Subsidiaries. Unless
    otherwise qualified, all references to a "Subsidiary" or to "Subsidiaries"
    in this Agreement shall refer to a Subsidiary or Subsidiaries of the
    Borrower.

         "Termination Date": December 29, 2000.

         "Transferee": as defined in subsection 9.6(f).

         "Type": as to any Revolving Credit Loan, its nature as an ABR Loan or a
    Eurodollar Loan, and as to any Competitive Loan, its nature as a Eurodollar
    Competitive Loan or a Fixed Rate Loan.

         "Utilization": as of the last day of any fiscal quarter of the
    Borrower, the percentage equivalent of a fraction (i) the numerator of which
    is the average daily principal amount of Loans outstanding (after giving
    effect to any borrowing or payment on such date) during such quarter and
    (ii) the denominator of which is the average daily amount of the aggregate
    Commitments of all Lenders during such quarter, after giving effect to any
    reduction of the Commitments on such day. For purposes of subsection 2.9(e),
    if for any reason any Loans remain outstanding after termination of the
    Commitments, the Utilization for each day on or after the date of such
    termination shall be deemed to be greater than 33%.

         . Other Definitional Provisions. () Unless otherwise specified therein,
all terms defined in this Agreement shall have the defined meanings when used
in any certificate or other document made or delivered pursuant hereto.

         () As used herein, and any certificate or other document made or
delivered pursuant hereto, accounting terms relating to the Borrower and its
Subsidiaries not defined in subsection 1.1 and accounting terms partly defined
in subsection 1.1, to the extent not defined, shall have the respective meanings
given to them under GAAP.

         () 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, and Section, subsection,
Schedule and Exhibit references are to this Agreement unless otherwise
specified.

         () The meanings given to terms defined herein shall be equally
applicable to both the singular and plural forms of such terms.

                  SECTION . AMOUNT AND TERMS OF THE FACILITIES

         . Revolving Credit Commitments. () Subject to the terms and conditions
hereof, each Lender severally agrees to make revolving credit loans ("Revolving
Credit Loans") to the Borrower from time to time during the Commitment Period in
an aggregate principal amount at

<PAGE>   12

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any one time outstanding which does not exceed the amount of such Lender's
Commitment. During the Commitment Period, the Borrower may use the Commitments
by borrowing, prepaying the Revolving Credit Loans in whole or in part, and
reborrowing, all in accordance with the terms and conditions hereof.
Notwithstanding anything to the contrary contained in this Agreement, in no
event (after giving effect to the use of proceeds of any Borrowing) shall (i)
the amount of any Lender's Commitment Percentage of a Borrowing of Revolving
Credit Loans exceed such Lender's Available Commitment at the time of such
Borrowing or (ii) the aggregate amount of Revolving Credit Loans and Competitive
Loans at any one time outstanding exceed the aggregate Commitments then in
effect of all Lenders.

         () The Revolving Credit Loans may from time to time be (i) Eurodollar
Loans, (ii) ABR Loans or (iii) a combination thereof, as determined by the
Borrower and notified to the Administrative Agent in accordance with subsections
2.2 and 2.6; provided that no Revolving Credit Loan shall be made as a
Eurodollar Loan after the day that is one month prior to the Termination Date.

         . Procedure for Revolving Credit Borrowing. The Borrower may borrow
Revolving Credit Loans under the Commitments during the Commitment Period on any
Business Day; provided that the Borrower shall give the Administrative Agent
irrevocable notice (which notice must be received by the Administrative Agent
prior to 12:00 Noon, New York City time, (a) three Business Days prior to the
requested borrowing date, if all or any part of the requested Revolving Credit
Loans are to be Eurodollar Loans, or (b) one Business Day prior to the requested
borrowing date, otherwise), specifying (i) the amount to be borrowed, (ii) the
requested borrowing date, (iii) whether the Borrowing is to be of Eurodollar
Loans, ABR Loans or a combination thereof and (iv) if the Borrowing is to be
entirely or partly of Eurodollar Loans, the respective amounts of each such Type
of Loan and the respective lengths of the initial Interest Periods therefor.
Each Borrowing under the Commitments shall be in an amount equal to $10,000,000
or a multiple of $1,000,000 in excess thereof. Upon receipt of any such notice
from the Borrower, the Administrative Agent shall promptly notify each Lender
thereof. Each Lender will make the amount of its pro rata share of each
Borrowing available to the Administrative Agent for the account of the Borrower
at the office of the Administrative Agent specified in subsection 9.2 prior to
11:00 A.M., New York City time, on the borrowing date requested by the Borrower
in funds immediately available to the Administrative Agent. Such Borrowing will
then immediately be made available to the Borrower by the Administrative Agent
crediting the account of the Borrower on the books of such office with the
aggregate of the amounts made available to the Administrative Agent by the
Lenders and in like funds as received by the Administrative Agent.

         . Competitive Borrowings.

         () The Competitive Bid Option. In addition to the Revolving Credit
Loans which may be made available pursuant to subsection 2.1, the Borrower may,
as set forth in this subsection 2.3, request the Lenders to make offers to make
Competitive Loans to the Borrower during the Commitment Period. The Lenders may,
but shall have no obligation to, make such offers, and the Borrower may, but
shall have no obligation to, accept any such offers in the manner set forth in
this subsection 2.3.
         () Competitive Bid Request. When the Borrower wishes to request offers
to make Competitive Loans under this subsection 2.3, it shall transmit to the
Administrative Agent a Competitive Bid Request to be received no later than
12:00 Noon (New York City time) on (x)

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the fourth Business Day prior to the date of Borrowing proposed therein, in the
case of a Borrowing of Eurodollar Competitive Loans or (y) the Business Day
immediately preceding the date of Borrowing proposed therein, in the case of a
Fixed Rate Borrowing, specifying:

                   () the proposed date of Borrowing, which shall be a Business
    Day,

                   () the aggregate principal amount of such Borrowing, which
    shall be $10,000,000 or a multiple of $1,000,000 in excess thereof,

                   () the duration of the Interest Period applicable thereto,
    subject to the provisions of the definition of Interest Period contained in
    subsection 1.1, and

                   () whether the Borrowing then being requested is to be of
    Eurodollar Competitive Loans or Fixed Rate Loans.

    A Competitive Bid Request that does not conform substantially to the format
    of Exhibit A may be rejected by the Administrative Agent in its sole
    discretion, and the Administrative Agent shall promptly notify the Borrower
    of such rejection. The Borrower may request offers to make Competitive Loans
    for more than one Interest Period in a single Competitive Bid Request. No
    Competitive Bid Request shall be given within three Business Days of any
    other Competitive Bid Request pursuant to which the Borrower has made a
    Competitive Borrowing.

              () Invitation for Competitive Bids. Promptly after its receipt of
    a Competitive Bid Request (but, in any event, no later than 3:00 P.M., New
    York City time, on the date of such receipt) conforming to the requirements
    of paragraph (b) above, the Administrative Agent shall send to each of the
    Competitive Bid Lenders an Invitation for Competitive Bids which shall
    constitute an invitation by the Borrower to each such Lender to bid, on the
    terms and conditions of this Agreement, to make Competitive Loans pursuant
    to the Competitive Bid Request.

              () Submission and Contents of Competitive Bids. () Each Lender to
    which an Invitation for Competitive Bids is sent may submit a Competitive
    Bid containing an offer or offers to make Competitive Loans in response to
    such Invitation for Competitive Bids. Each Competitive Bid must comply with
    the requirements of this paragraph (d) and must be submitted to the
    Administrative Agent at its offices specified in subsection 9.2 not later
    than (x) 9:30 A.M. (New York City time) on the third Business Day prior to
    the proposed date of Borrowing, in the case of a Borrowing of Eurodollar
    Competitive Loans or (y) 9:30 A.M. (New York City time) on the date of the
    proposed Borrowing, in the case of a Fixed Rate Borrowing; provided that any
    Competitive Bids submitted by the Administrative Agent in the capacity of a
    Lender may only be submitted if the Administrative Agent notifies the
    Borrower of the terms of the offer or offers contained therein not later
    than fifteen minutes prior to the deadline for the other Lenders. A
    Competitive Bid submitted by a Lender pursuant to this paragraph (d) shall
    be irrevocable.

                   () Each Competitive Bid shall be in substantially the form of
    Exhibit C and shall specify:

<PAGE>   14

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              (A) the date of the proposed Borrowing,

              (B) the principal amount of the Competitive Loan for which each
    such offer is being made, which principal amount (w) may be greater than,
    equal to or less than the Commitment of the quoting Lender, (x) must be in a
    minimum principal amount of $5,000,000 or a multiple of $1,000,000 in excess
    thereof, (y) may not exceed the principal amount of Competitive Loans for
    which offers were requested and (z) may be subject to a limitation as to the
    maximum aggregate principal amount of Competitive Loans for which offers
    being made by such quoting Lender may be accepted,

              (C) in the case of a Borrowing of Eurodollar Competitive Loans,
    the Margin offered for each such Competitive Loan, expressed as a percentage
    (specified in increments of 1/10,000th of 1%) to be added to or subtracted
    from such base rate,

              (D) in the case of a Fixed Rate Borrowing, the rate of interest
    per annum (specified in increments of 1/10,000th of 1%) offered for each
    such Competitive Loan, and

              (E) the identity of the quoting Lender.

    A Competitive Bid may set forth up to five separate offers by the quoting
    Lender with respect to each Interest Period specified in the related
    Invitation for Competitive Bids. Any Competitive Bid shall be disregarded by
    the Administrative Agent if the Administrative Agent determines that it: (A)
    is not substantially in the form of Exhibit C or does not specify all of the
    information required by subsection 2.3(d)(ii); (B) contains qualifying,
    conditional or similar language (except for a limitation on the maximum
    principal amount which may be accepted); (C) proposes terms other than or in
    addition to those set forth in the applicable Invitation for Competitive
    Bids or (D) arrives after the time set forth in subsection 2.3(d)(i).

                   () Notice to Borrower. The Administrative Agent shall
    promptly (and, in any event, by 10:00 A.M., New York City time) notify the
    Borrower, by telecopy, of all the Competitive Bids made (including all
    disregarded bids), the Competitive Bid Rate and the principal amount of each
    Competitive Loan in respect of which a Competitive Bid was made and the
    identity of the Lender that made each bid. The Administrative Agent shall
    send a copy of all Competitive Bids (including all disregarded bids) to the
    Borrower for its records as soon as practicable after completion of the
    bidding process set forth in this subsection 2.3.

                   () Acceptance and Notice by Borrower. The Borrower may in its
    sole discretion, subject only to the provisions of this paragraph (f),
    accept or reject any Competitive Bid (other than any disregarded bid)
    referred to in paragraph (e) above. The Borrower shall notify the
    Administrative Agent by telephone, confirmed immediately thereafter by
    telecopy in the form of a Competitive Bid Accept/Reject Letter, whether and
    to what extent it wishes to accept any or all of the bids referred to in
    paragraph (e) above not later than (x) 10:30 A.M. (New York City time) on
    the third Business Day prior to the proposed date of Borrowing, in the case
    of a Competitive Eurodollar Borrowing or (y) 10:30 A.M. (New York City time)
    on the proposed date of Borrowing, in the case of a Fixed Rate Borrowing;
    provided that:

<PAGE>   15

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                        () the failure by the Borrower to give such notice shall
    be deemed to be a rejection of all the bids referred to in paragraph (e)
    above;

                        () the aggregate principal amount of the Competitive
    Bids accepted by the Borrower may not exceed the lesser of (A) the principal
    amount set forth in the related Competitive Bid Request and (B) the excess,
    if any, of the aggregate Commitments of all Lenders then in effect over the
    aggregate principal amount of all Loans outstanding immediately prior to the
    making of such Competitive Loans (and after giving effect to the use of
    proceeds thereof),

                        () the principal amount of each Competitive Borrowing
    must be $5,000,000 or a multiple of $1,000,000 in excess thereof,

                        () unless there are any limitations contained in a
    quoting Lender's Competitive Bid, the Borrower may not accept a Competitive
    Bid made at a particular Competitive Bid Rate if it has decided to reject
    any portion of a bid made at a lower Competitive Bid Rate for the same
    Interest Period, and

                        () the Borrower may not accept any Competitive Bid that
    is disregarded by the Administrative Agent pursuant to subsection 2.3(d)(ii)
    or that otherwise fails to comply with the requirements of this Agreement.

    A notice given by the Borrower pursuant to this paragraph (f) shall be
    irrevocable.

                   () Allocation by Administrative Agent. If offers are made by
    two or more Lenders with the same Competitive Bid Rates for a greater
    aggregate principal amount than the amount in respect of which such offers
    are accepted for the related Interest Period, the principal amount of
    Competitive Loans in respect of which such offers are accepted shall be
    allocated by the Administrative Agent among such Lenders as nearly as
    possible (in integral multiples of $1,000,000, as the Administrative Agent
    may deem appropriate) in proportion to the aggregate principal amounts of
    such offers.

                   () Notification of Acceptance. The Administrative Agent shall
    promptly (and, in any event, by 11:00 A.M., New York City time) notify each
    bidding Lender whether or not its Competitive Bid has been accepted (and if
    so, in what amount and at what Competitive Bid Rate), and each successful
    bidder will thereupon become bound, subject to the other applicable
    conditions hereof, to make the Competitive Loan in respect of which its bid
    has been accepted.

                   . Termination or Reduction of Commitments. The Borrower shall
    have the right, upon not less than three Business Days' notice to the
    Administrative Agent, to terminate the Commitments when no Loans are then
    outstanding or, from time to time, to reduce the unutilized portion of the
    Commitments. Any such reduction shall be in an amount equal to $10,000,000
    or a multiple of $1,000,000 in excess thereof and shall reduce permanently
    the Commitments then in effect.

                   . Prepayments. The Borrower may, at any time and from time to
    time, prepay the Revolving Credit Loans, in whole or in part, without
    premium or penalty (but

<PAGE>   16

16

    subject to the provisions of subsection 2.17), upon at least two Business
    Days' irrevocable notice to the Administrative Agent, specifying the date
    and amount of prepayment and whether the prepayment is of Eurodollar
    Revolving Credit Loans, ABR Loans or a combination thereof, and, if of a
    combination thereof, the amount allocable to each. Upon receipt of any such
    notice the Administrative Agent shall promptly notify each Lender thereof.
    If any such notice is given, the amount specified in such notice shall be
    due and payable on the date specified therein, together with any amounts
    payable pursuant to subsection 2.17. Partial prepayments shall be in an
    aggregate principal amount of $10,000,000 or a multiple of $1,000,000 in
    excess thereof. Notwithstanding anything to the contrary contained herein,
    the Borrower shall not prepay the Competitive Loans except pursuant to
    Section 7 or with the consent of the Competitive Bid Lender which has made
    such Competitive Loan.

                   . Conversion and Continuation Options. () The Borrower may
    elect from time to time to convert Eurodollar Revolving Credit Loans to ABR
    Loans by giving the Administrative Agent at least one Business Day's prior
    irrevocable notice of such election; provided that any such conversion of
    Eurodollar Revolving Credit Loans may only be made on the last day of an
    Interest Period with respect thereto. The Borrower may elect from time to
    time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the
    Administrative Agent at least three Business Days' prior irrevocable notice
    of such election. Any such notice of conversion to Eurodollar Revolving
    Credit Loans shall specify the length of the initial Interest Period or
    Interest Periods therefor. Upon receipt of any such notice the
    Administrative Agent shall promptly notify each Lender thereof. All or any
    part of outstanding Eurodollar Revolving Credit Loans and ABR Loans may be
    converted as provided herein; provided that (i) no Loan may be converted
    into a Eurodollar Revolving Credit Loan when any Event of Default has
    occurred and is continuing and (ii) no Loan may be converted into a
    Eurodollar Revolving Credit Loan after the date that is one month prior to
    the Termination Date.

                   () Any Eurodollar Revolving Credit Loans may be continued as
    such upon the expiration of the then current Interest Period with respect
    thereto by the Borrower giving notice to the Administrative Agent, in
    accordance with the applicable provisions of the term "Interest Period" set
    forth in subsection 1.1, of the length of the next Interest Period to be
    applicable to such Loans; provided that no Eurodollar Revolving Credit Loan
    may be continued as such (i) when any Event of Default has occurred and is
    continuing or (ii) after the date that is one month prior to the Termination
    Date and provided, further, that if the Borrower shall fail to give any
    required notice as described above in this paragraph or if such continuation
    is not permitted pursuant to the preceding proviso such Eurodollar Revolving
    Credit Loans shall be automatically converted to ABR Loans on the last day
    of such then expiring Interest Period.

                   . Minimum Amounts of Eurodollar Borrowings. All borrowings,
    conversions and continuations of Revolving Credit Loans hereunder and all
    selections of Interest Periods hereunder shall be in such amounts and be
    made pursuant to such elections so that, after giving effect thereto, the
    aggregate principal amount of the Revolving Credit Loans comprising each
    Eurodollar Borrowing shall be equal to $10,000,000 or a multiple of
    $1,000,000 in excess thereof and so that there shall not be more than 20
    Eurodollar Borrowings outstanding at any one time.

<PAGE>   17

17

                   . Repayment of Loans; Evidence of Debt. () The Borrower
    hereby unconditionally promises to pay to each Lender (i) on the Termination
    Date (or such earlier date as the Loans become due and payable pursuant to
    Section 7 or subsection 2.5), the unpaid principal amount of each Loan made
    by such Lender; provided, that, at the Borrower's option any Loans
    outstanding on the Termination Date shall be due and payable in full on the
    date which is one year following the Termination Date (or such earlier date
    as the Loans become due and payable pursuant to Section 7 or subsection 2.5)
    and (ii) on the last day of the applicable Interest Period, the unpaid
    principal amount of each Competitive Loan made by such Lender. The Borrower
    hereby further agrees to pay interest in immediately available funds at the
    office of the Administrative Agent on the unpaid principal amount of such
    Loans from time to time from the date hereof until payment in full thereof
    at the rates per annum, and on the dates, set forth in subsection 2.9.

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

                   () The Administrative Agent shall maintain the Register
    pursuant to subsection 9.6(d), and a subaccount for each Lender, in which
    Register and subaccounts (taken together) shall be recorded (i) the amount
    of each Loan made hereunder, the Type of each Loan made and the Interest
    Period applicable thereto, (ii) the amount of any principal or interest due
    and payable or to become due and payable from the Borrower to each Lender
    hereunder and (iii) the amount of any sum received by the Administrative
    Agent hereunder from the Borrower and each Lender's share thereof.

                   () The entries made in the Register and accounts maintained
    pursuant to paragraphs (b) and (c) of this subsection 2.8 shall, to the
    extent permitted by applicable law, be prima facie evidence of the existence
    and amounts of the obligations of the Borrower therein recorded; provided,
    however, that the failure of any Lender or the Administrative Agent to
    maintain such account, such Register or such subaccount, as applicable, or
    any error therein, shall not in any manner affect the obligation of the
    Borrower to repay (with applicable interest) the Loans made to the Borrower
    by such Lender in accordance with the terms of this Agreement.

                   . Interest Rates and Payment Dates. () Each ABR Loan shall
    bear interest at a rate per annum equal to the ABR.

                   () The Loans comprising each Eurodollar Borrowing shall bear
    interest at a rate per annum equal to (i) in the case of each Eurodollar
    Revolving Credit Loan, the Eurodollar Rate for the Interest Period in effect
    for such Borrowing plus the Applicable Margin and (ii) in the case of each
    Eurodollar Competitive Loan, the Eurodollar Rate for the Interest Period in
    effect for such Borrowing plus (or minus, as the case may be) the Margin
    offered by the Lender making such Loan and accepted by the Borrower pursuant
    to subsection 2.3.

<PAGE>   18

18

                   () Each Fixed Rate Loan shall bear interest at a rate per
    annum equal to the fixed rate of interest offered by the Lender making such
    Loan and accepted by the Borrower pursuant to subsection 2.3.

                   () Subject to the provisions of the following sentence,
    interest shall be payable in arrears on each Interest Payment Date; provided
    that interest accruing pursuant to paragraph (f) of this subsection 2.9
    shall be payable from time to time on demand. The amount of interest on
    Revolving Credit Loans to be paid on any Interest Payment Date shall be the
    amount which would be due and payable if the Utilization for the period for
    which such interest is paid was less than 33%. On the first Business Day
    following the last day of each fiscal quarter of the Borrower and on the
    Termination Date (or, if earlier, on the date upon which both the
    Commitments are terminated and the Loans are paid in full), the Borrower
    shall pay to the Administrative Agent, for the ratable benefit of the
    Lenders, an additional amount of interest equal to the difference (if any)
    between (i) the amount of interest which would have been payable during such
    fiscal quarter (or, in the case of the payment due on the Termination Date,
    the portion thereof ending on such date) after giving effect to the actual
    Utilization during such period and (ii) the amount of interest which
    actually was paid during such period.

                   () The "Applicable Margin" with respect to each Revolving
    Credit Loan at any date shall be the applicable percentage amount set forth
    in the table below based upon the Type of such Loan and the Utilization and
    Status on such date:

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
                                      Level I       Level II       Level III       Level IV        Level V
                                      Status         Status         Status          Status         Status
                                      ------         ------         ------          ------         ------
------------------------------------------------------------------------------------------------------------
<S>                                   <C>            <C>            <C>            <C>             <C>
    If Utilization is less than
    33%:
------------------------------------------------------------------------------------------------------------
      Eurodollar Loans                0.3200%        0.4100%        0.5000%        0.8750%         1.0750%
------------------------------------------------------------------------------------------------------------
      ABR Loans                            0%             0%             0%              0%             0%
------------------------------------------------------------------------------------------------------------
   If Utilization is equal to
   or greater than 33%:
------------------------------------------------------------------------------------------------------------
      Eurodollar Loans                0.4450%        0.5350%        0.6250%        0.8750%         1.0750%
------------------------------------------------------------------------------------------------------------
      ABR Loans                            0%             0%             0%              0%             0%
------------------------------------------------------------------------------------------------------------
</TABLE>

                   () If all or a portion of (i) the principal amount of any
    Loan, (ii) any interest payable thereon or (iii) any facility fee or other
    amount payable hereunder shall not be paid when due (whether at the stated
    maturity, by acceleration or otherwise), such overdue amount shall bear
    interest at a rate per annum which is (x) in the case of overdue principal,
    the rate that would otherwise be applicable thereto pursuant to the
    foregoing provisions of this subsection 2.9 plus 2% or (y) in the case of
    overdue interest, facility fee or other amount, the rate described in
    paragraph (a) of this subsection 2.9 plus 2%, in each case from the date of
    such non-payment until such amount is paid in full (as well after as before
    judgment). For purposes of this Agreement, principal shall be "overdue" only
    if not paid in accordance with the provisions of subsection 2.8.

                   . Facility Fee. The Borrower shall pay to the Administrative
    Agent, for the ratable account of the Lenders, a facility fee at the rate
    per annum equal to (a) for each day that the Borrower has Level I Status,
    .0800% of the aggregate Commitments on such day, (b) for each day that the
    Borrower has Level II Status, .0900% of the aggregate Commitments, (c) for
    each day that the Borrower has Level III Status, .1250% of the aggregate
    Commitments, (d) for each day that the Borrower has Level IV Status, .1250%

<PAGE>   19

19

    of the aggregate Commitments and (e) for each day that the Borrower has
    Level V Status, 0.1750% of the aggregate Commitments. On the first Business
    Day following the last day of each fiscal quarter of the Borrower and on the
    Termination Date (or, if earlier, on the date upon which both the
    Commitments are terminated and the Loans are paid in full), the Borrower
    shall pay to the Administrative Agent, for the ratable benefit of the
    Lenders, the portion of such facility fee which accrued during the fiscal
    quarter most recently ended (or, in the case of the payment due on the
    Termination Date, the portion thereof ending on such date). Such facility
    fee shall be based upon the aggregate Commitments of the Lenders from time
    to time, regardless of the Utilization from time to time thereunder.

                   . Computation of Interest and Fees. () Interest on all Loans
    shall be computed on the basis of the actual number of days elapsed over a
    year of 360 days or, on any date when the ABR is determined by reference to
    the Prime Rate, a year of 365 or 366 days as appropriate (in each case
    including the first day but excluding the last day). Each determination of
    an interest rate by the Administrative Agent pursuant to any provision of
    this Agreement shall be conclusive and binding on the Borrower and the
    Lenders in the absence of manifest error. All fees shall be computed on the
    basis of a year composed of twelve 30-day months. At any time and from time
    to time upon request of the Borrower, the Administrative Agent shall deliver
    to the Borrower a statement showing the quotations used by the
    Administrative Agent in determining any interest rate applicable to
    Revolving Credit Loans pursuant to this Agreement. Each change in the
    Applicable Margin applicable to Loans or the Facility Fee as a result of a
    change in the Borrower's Status shall become effective on the date upon
    which such change in Status occurs.

                   () If any Reference Lender shall for any reason no longer
    have a Commitment, such Reference Lender shall thereupon cease to be a
    Reference Lender, and if, as a result thereof, there shall only be one
    Reference Lender remaining, the Borrower and the Administrative Agent (after
    consultation with the Lenders) shall, by notice to the Lenders, designate
    another Lender as a Reference Lender so that there shall at all times be at
    least two Reference Lenders.

                   () Each Reference Lender shall use its best efforts to
    furnish quotations of rates to the Administrative Agent as contemplated
    hereby. If any of the Reference Lenders shall be unable or shall otherwise
    fail to supply such rates to the Administrative Agent upon its request, the
    rate of interest shall, subject to the provisions of subsection 2.12, be
    determined on the basis of the quotations of the remaining Reference
    Lenders.

                   . Inability to Determine Interest Rate. If the Eurodollar
    Rate cannot be determined by the Administrative Agent in the manner
    specified in the definition of the term "Eurodollar Rate" contained in
    subsection 1.1 of this Agreement, the Administrative Agent shall give
    telecopy or telephonic notice thereof to the Borrower and the Lenders as
    soon as practicable thereafter. Until such time as the Eurodollar Rate can
    be determined by the Administrative Agent in the manner specified in the
    definition of such term contained in said subsection 1.1, no further
    Eurodollar Loans shall be continued as such at the end of the then current
    Interest Period or (other than any Eurodollar Loans previously requested and
    with respect to which the Eurodollar Rate previously was

<PAGE>   20

20

    determined) shall be made, nor shall the Borrower have the right to convert
    ABR Loans to Eurodollar Loans.

                   . Pro Rata Treatment and Payments. () Each borrowing of
    Revolving Credit Loans from the Lenders hereunder, each payment by the
    Borrower on account of any facility fee hereunder and (except as provided in
    subsection 2.18(c)) any reduction of the Commitments of the Lenders shall be
    made pro rata according to the respective Commitment Percentages of the
    Lenders. Each payment (including each prepayment) by the Borrower on account
    of principal of and interest on the Revolving Credit Loans shall be made pro
    rata according to the respective outstanding principal amounts of the
    Revolving Credit Loans then held by the Lenders. Each payment by the
    Borrower on account of principal of and interest on any Borrowing of
    Competitive Loans shall be made pro rata among the Lenders participating in
    such Borrowing according to the respective principal amounts of their
    outstanding Competitive Loans comprising such Borrowing.

                   () All payments (including prepayments) to be made by the
    Borrower hereunder, whether on account of principal, interest, fees or
    otherwise, shall be made without set-off or counterclaim and shall be made
    prior to 12:00 Noon, New York City time, on the due date thereof to the
    Administrative Agent, for the account of the relevant Lenders, at the
    Agent's office specified in subsection 9.2, in Dollars and in immediately
    available funds. Notwithstanding the foregoing, the failure by the Borrower
    to make a payment (or prepayment) prior to 12:00 Noon on the due date
    thereof shall not constitute a Default or Event of Default if such payment
    is made on such due date; provided, however, that any payment (or
    prepayment) made after such time on such due date shall be deemed made on
    the next Business Day for the purposes of interest and reimbursement
    calculations. The Administrative Agent shall distribute such payments to the
    relevant Lenders promptly upon receipt in like funds as received. If any
    payment hereunder (other than payments on the Eurodollar Loans) becomes due
    and payable on a day other than a Business Day, such payment shall be
    extended to the next succeeding Business Day, and, with respect to payments
    of principal, interest thereon shall be payable at the then applicable rate
    during such extension. If any payment on a Eurodollar Loan becomes due and
    payable on a day other than a Business Day, the maturity thereof shall be
    extended to the next succeeding Business Day unless the result of such
    extension would be to extend such payment into another calendar month, in
    which event such payment shall be made on the immediately preceding Business
    Day.
                   () Unless the Administrative Agent shall have been notified
    in writing by any Lender prior to the deadline for funding a Borrowing that
    such Lender will not make the amount that would constitute its Commitment
    Percentage of such Borrowing available to the Administrative Agent, the
    Administrative Agent may assume that such Lender is making such amount
    available to the Administrative Agent, and the Administrative Agent may, in
    reliance upon such assumption, make available to the Borrower a
    corresponding amount. If such amount is not made available to the
    Administrative Agent by the required time on the borrowing date therefor,
    such Lender shall pay to the Administrative Agent, on demand, such amount
    with interest thereon at a rate equal to the daily average Federal Funds
    Effective Rate for the period until such Lender makes such amount
    immediately available to the Administrative Agent. A certificate of the
    Administrative Agent submitted to any Lender with respect to any amounts
    owing under this subsection 2.13 shall be conclusive in the absence of
    manifest

<PAGE>   21

21

    error. If such Lender's Commitment Percentage of such Borrowing is not made
    available to the Administrative Agent by such Lender within three Business
    Days of such borrowing date, the Administrative Agent shall be entitled to
    recover such amount with interest thereon at the Federal Funds Effective
    Rate, on demand, from the Borrower.

                   . Illegality. Notwithstanding any other provision herein, if
    the adoption of or any change in any Requirement of Law or in the
    interpretation or application thereof shall make it unlawful for any Lender
    to make or maintain Eurodollar Loans as contemplated by this Agreement, such
    Lender shall give notice thereof to the Administrative Agent and the
    Borrower describing the relevant provisions of such Requirement of Law (and,
    if the Borrower shall so request, provide the Borrower with a memorandum or
    opinion of counsel of recognized standing (as selected by such Lender) as to
    such illegality), following which (a) the commitment of such Lender
    hereunder to make Eurodollar Loans, continue Eurodollar Loans as such and
    convert ABR Loans to Eurodollar Loans shall forthwith be canceled and (b)
    such Lender's Loans then outstanding as Eurodollar Loans (including, without
    limitation, such Lender's Eurodollar Competitive Loans in the case of clause
    (ii) below), if any, shall be converted automatically to ABR Loans (i) on
    the respective last days of the then current Interest Periods with respect
    to such Loans or (ii) within such earlier period as required by law. If any
    such conversion of a Eurodollar Loan occurs on a day which is not the last
    day of the then current Interest Period with respect thereto, the Borrower
    shall pay to such Lender such amounts, if any, as may be required pursuant
    to subsection 2.17.

                   . Increased Costs. () If (i) there shall be any increase in
    the cost to any Lender of agreeing to make or making, funding or maintaining
    any Loans or (ii) any reduction in any amount receivable in respect thereof,
    and such increased cost or reduced amount receivable is due to either:

         (x) the introduction of or any change in or in the interpretation of
    any law or regulation after the date hereof; or

         (y) the compliance with any guideline or request made after the date
    hereof from any central bank or other Governmental Authority (whether or not
    having the force of law), then (subject to the provisions of subsection
    2.18) the Borrower shall from time to time, upon demand by such Lender pay
    such Lender additional amounts sufficient to compensate such Lender for such
    increased cost or reduced amount receivable.

                   () If any Lender shall have reasonably determined that (i)
    the applicability of any law, rule, regulation or guideline adopted after
    the date hereof pursuant to or arising out of the July 1988 paper of the
    Basle Committee on Banking Regulations and Supervisory Practices entitled
    "International Convergence of Capital Measurement and Capital Standards," or
    (ii) the adoption after the date hereof of any other law, rule, regulation
    or guideline regarding capital adequacy affecting such Lender, or (iii) any
    change arising after the date hereof in the foregoing or in the
    interpretation or administration of any of the foregoing by any Governmental
    Authority, central bank or comparable agency charged with the interpretation
    or administration thereof, or (iv) compliance by such Lender (or any lending
    office of such Lender), or any holding company for such Lender which is
    subject to any of the capital requirements described

<PAGE>   22

22

    above, with any request or directive of general application issued after the
    date hereof regarding capital adequacy (whether or not having the force of
    law) of any such authority, central bank or comparable agency, has or would
    have the effect of reducing the rate of return on such Lender's capital or
    on the capital of any such holding company as a direct consequence of such
    Lender's obligations hereunder to a level below that which such Lender or
    any such holding company could have achieved but for such adoption, change
    or compliance (taking into consideration such Lender's policies and the
    policies of such holding company with respect to capital adequacy) by an
    amount deemed by such Lender to be material, then (subject to the provisions
    of subsection 2.17) from time to time such Lender may request the Borrower
    to pay to such Lender such additional amounts as will compensate such Lender
    or any such holding company for any such reduction suffered, net of the
    savings (if any) which may be reasonably projected to be associated with
    such increased capital requirement. Any certificate as to such amounts which
    is delivered pursuant to subsection 2.18(a) shall, in addition to any items
    required by subsection 2.18(a), include the calculation of the savings (if
    any) which may be reasonably projected to be associated with such increased
    capital requirement; provided that in no event shall any Lender be obligated
    to pay or refund any amounts to the Borrower on account of such savings.

                   () In the event that any Governmental Authority shall impose
    any Eurocurrency Reserve Requirements which increase the cost to any Lender
    of making or maintaining Eurodollar Loans, then (subject to the provisions
    of subsection 2.18) the Borrower shall thereafter pay in respect of the
    Eurodollar Loans of such Lender a rate of interest based upon the Eurodollar
    Reserve Rate (rather than upon the Eurodollar Rate). From and after the
    delivery to the Borrower of the certificate required by subsection 2.18(a),
    all references contained in this Agreement to the Eurodollar Rate shall be
    deemed to be references to the Eurodollar Reserve Rate with respect to each
    such affected Lender.

                   . Taxes. () All payments made by the Borrower under this
    Agreement shall be made free and clear of, and without deduction or
    withholding for or on account of, any present or future income, stamp or
    other taxes, levies, imposts, duties, charges, fees, deductions or
    withholdings, now or hereafter imposed, levied, collected, withheld or
    assessed by any Governmental Authority, excluding net income taxes and
    franchise taxes or any other tax based upon net income imposed on the
    Administrative Agent or any Lender as a result of a present or former
    connection between the Administrative Agent or such Lender and the
    jurisdiction of the Governmental Authority imposing such tax or any
    political subdivision or taxing authority thereof or therein (other than any
    such connection arising solely from the Administrative Agent or such Lender
    having executed, delivered or performed its obligations or received a
    payment under, or enforced, this Agreement). If any such non-excluded taxes,
    levies, imposts, duties, charges, fees deductions or withholdings
    ("Non-Excluded Taxes") are required to be withheld from any amounts payable
    to the Administrative Agent or any Lender hereunder, the amounts so payable
    to the Administrative Agent or such Lender shall be increased to the extent
    necessary to yield to the Administrative Agent or such Lender (after payment
    of all Non-Excluded Taxes) interest or any such other amounts payable
    hereunder at the rates or in the amounts specified in or pursuant to this
    Agreement; provided, however, that the Borrower shall not be required to
    increase any such amounts payable to any Lender that is not organized under
    the laws of the United States of America or a state thereof if such

<PAGE>   23

23

    Lender fails to comply with the requirements of paragraph (b) of this
    subsection 2.16. Whenever any Non-Excluded Taxes are payable by the
    Borrower, as promptly as possible thereafter the Borrower shall send to the
    Administrative Agent for its own account or for the account of such Lender,
    as the case may be, a certified copy of an original official receipt
    received by the Borrower showing payment thereof. If the Borrower fails to
    pay any Non-Excluded Taxes when due to the appropriate taxing authority or
    fails to remit to the Administrative Agent the required receipts or other
    required documentary evidence, the Borrower shall indemnify the
    Administrative Agent and the Lenders for any incremental taxes, interest or
    penalties that may become payable by the Administrative Agent or any Lender
    as a result of any such failure. The agreements in this subsection 2.16
    shall survive the termination of this Agreement and the payment of all other
    amounts payable hereunder.

                   () Each Lender that is not incorporated under the laws of the
    United States of America or a state thereof shall:

                             () deliver to the Borrower and the Administrative
    Agent (A) two duly completed copies of United States Internal Revenue
    Service Form 1001 or 4224, or successor applicable form, as the case may be,
    and (B) an Internal Revenue Service Form W-8 or W-9, or successor applicable
    form, as the case may be;

                             () deliver to the Borrower and the Administrative
    Agent two further copies of any such form or certification on or before the
    date that any such form or certification expires or becomes obsolete and
    after the occurrence of any event requiring a change in the most recent form
    previously delivered by it to the Borrower; and

                             () obtain such extensions of time for filing and
    completing such forms or certifications as may reasonably be requested by
    the Borrower or the Administrative Agent;

    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 all such forms
    inapplicable or which would prevent such Lender from duly completing and
    delivering any such form with respect to it and such Lender so advises the
    Borrower and the Administrative Agent. Such Lender shall certify (i) in the
    case of a Form 1001 or 4224, that it is entitled to receive payments under
    this Agreement without deduction or withholding of any United States federal
    income taxes and (ii) in the case of a Form W-8 or W-9, that it is entitled
    to an exemption from United States backup withholding tax. Each Person not
    incorporated under the laws of the United States of America or a state
    thereof that is an Assignee hereunder pursuant to subsection 9.6 shall, upon
    the effectiveness of the related transfer, be required to provide all of the
    forms and statements required pursuant to this subsection 2.16.

                   . Indemnity. Subject to the provisions of subsection 2.18(a),
    the Borrower agrees to indemnify each Lender and to hold each Lender
    harmless from any loss or reasonable expense which such Lender may sustain
    or incur as a consequence of (a) default by the Borrower in making a
    borrowing of, conversion into or continuation of any Loan hereunder after
    the Borrower has given a notice requesting the same in

<PAGE>   24

24

    accordance with the provisions of this Agreement, (b) default by the
    Borrower in making any prepayment after the Borrower has given a notice
    thereof in accordance with the provisions of this Agreement or (c) the
    making of a prepayment of Eurodollar Loans or Fixed Rate Loans on a day
    which is not the last day of an Interest Period with respect thereto. Such
    indemnification shall be in an amount equal to the excess, if any, of (i)
    the amount of interest which would have accrued on the amount so prepaid, or
    not so borrowed, converted or continued, for the period from the date of
    such prepayment or of such failure to borrow, convert or continue to the
    last day of such Interest Period (or, in the case of a failure to borrow,
    convert or continue, the Interest Period that would have commenced on the
    date of such failure) in each case at the applicable rate of interest for
    such Loans provided for herein (excluding the Applicable Margin included
    therein) over (ii) the amount of interest (as determined by such Lender)
    which would have accrued to such Lender on such amount by placing such
    amount on deposit for a comparable period with leading banks in the
    interbank eurodollar market. This covenant shall survive the termination of
    this Agreement and the payment of all other amounts payable hereunder.

                   . Notice of Amounts Payable; Relocation of Lending Office;
    Mandatory Assignment. () In the event that any Lender becomes aware that any
    amounts are or will be owed to it pursuant to subsection 2.14, 2.15, 2.16(a)
    or 2.17, then it shall promptly notify the Borrower thereof and, as soon as
    possible thereafter, such Lender shall submit to the Borrower a certificate
    indicating the amount owing to it and the calculation thereof. The amounts
    set forth in such certificate shall be prima facie evidence of the
    obligations of the Borrower hereunder; provided, however, that the failure
    of the Borrower to pay any amount owing to any Lender pursuant to subsection
    2.14, 2.15, 2.16(a) or 2.17 shall not be deemed to constitute a Default or
    an Event of Default hereunder to the extent that the Borrower is contesting
    in good faith its obligation to pay such amount by ongoing discussions
    diligently pursued with such Lender or by appropriate proceedings.

                   () If a Lender claims any additional amounts payable pursuant
    to subsection 2.14, 2.15 or 2.16(a), it shall use its reasonable efforts
    (consistent with legal and regulatory restrictions) to avoid the need for
    paying such additional amounts, including changing the jurisdiction of its
    applicable lending office, provided that the taking of any such action would
    not, in the reasonable judgment of the Lender, be disadvantageous to such
    Lender.

                   () In the event that any Lender delivers to the Borrower a
    certificate in accordance with subsection 2.18(a) (other than a certificate
    as to amounts payable pursuant to subsection 2.17), or the Borrower is
    required to pay any additional amounts or other payments in accordance with
    subsection 2.14, 2.15 or 2.16(a), the Borrower may, at its own expense and
    in its sole discretion, (i) require such Lender to transfer or assign, in
    whole or in part, without recourse (in accordance with subsection 9.6), all
    or part of its interests, rights and obligations under this Agreement (other
    than any outstanding Competitive Loans) to another Person (provided that the
    Borrower, with the full cooperation of such Lender, can identify a Person
    who is ready, willing and able to be an Assignee with respect to thereto)
    which shall assume such assigned obligations (which Assignee may be another
    Lender, if such Assignee Lender accepts such assignment) or (ii) during such
    time as no Default or Event of Default has occurred and is continuing,
    terminate the Commitment of such Lender and prepay all outstanding Loans
    (other than Competitive Loans) of such Lender; provided that (x) the
    Borrower or the Assignee, as

<PAGE>   25

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    the case may be, shall have paid to such Lender in immediately available
    funds the principal of and interest accrued to the date of such payment on
    the Loans (other than Competitive Loans) made by it hereunder and (subject
    to subsection 2.17) all other amounts owed to it hereunder and (y) such
    assignment or termination of the Commitment of such Lender and prepayment of
    Loans does not conflict with any law, rule or regulation or order of any
    court or Governmental Authority.

                    SECTION . REPRESENTATIONS AND WARRANTIES

                   To induce the Administrative Agent and the Lenders to enter
    into this Agreement and to make the Loans, the Borrower hereby represents
    and warrants to the Administrative Agent and each Lender that:

                   . Financial Condition. The Borrower has heretofore furnished
    to each Lender a copy of the audited consolidated financial statements of
    the Borrower for the fiscal year ended December 31, 1998 and unaudited
    consolidated financial statements of the Borrower for each quarterly period
    ended subsequent to December 31, 1998 and on or prior to September 30, 1999.
    Such financial statements present fairly the financial condition and results
    of operations of the Borrower and its consolidated Subsidiaries as of, and
    for the fiscal year and fiscal quarters ended on, such dates in accordance
    with GAAP (subject, in the case of such quarterly statements, to normal
    year-end audit adjustments). Other than as disclosed in the Borrower's 10-K
    dated March 17, 1999 or in the Confidential Information Memorandum, between
    December 31, 1998 and the Closing Date, there has been no development or
    event which has had a Material Adverse Effect.

                   . Corporate Existence; Compliance with Law. The Borrower (a)
    is duly organized, validly existing and in good standing under the laws of
    the jurisdiction of its organization, (b) has the corporate power and
    authority, and the legal right, to own and operate its property, to lease
    the property it operates as lessee and to conduct the business in which it
    is currently engaged, (c) is duly qualified as a foreign corporation and in
    good standing under the laws of each jurisdiction where its ownership, lease
    or operation of property or the conduct of its business requires such
    qualification, except to the extent that all failures to be duly qualified
    and in good standing could not, in the aggregate, have a Material Adverse
    Effect and (d) is in compliance with all Requirements of Law except to the
    extent that the failure to comply therewith could not, in the aggregate,
    reasonably be expected to have a Material Adverse Effect.

                   . Corporate Power; Authorization; Enforceable Obligations.
    The Borrower has the corporate power and authority, and the legal right, to
    make, deliver and perform this Agreement and to borrow hereunder and has
    taken all necessary corporate action to authorize the borrowings on the
    terms and conditions of this Agreement and to authorize the execution,
    delivery and performance of this Agreement. No consent or authorization of
    any Governmental Authority or any other Person is required in connection
    with the borrowings hereunder or with the execution, delivery, performance,
    validity or enforceability of this Agreement. This Agreement has been duly
    executed and delivered on behalf of the Borrower. This Agreement constitutes
    a legal, valid and binding obligation of the Borrower enforceable against
    the Borrower in accordance with its terms, except as enforceability may be
    limited by applicable bankruptcy, insolvency,

<PAGE>   26

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    reorganization, moratorium or similar laws affecting the enforcement of
    creditors' rights generally and by general equitable principles (whether
    enforcement is sought by proceedings in equity or at law).

                   . No Legal Bar; No Default. The execution, delivery and
    performance of this Agreement, the borrowings hereunder and the use of the
    proceeds thereof will not violate any Requirement of Law or Contractual
    Obligation of the Borrower and will not result in, or require, the creation
    or imposition of any Lien on any of its properties or revenues pursuant to
    any such Requirement of Law or Contractual Obligation, except to the extent
    that all such violations and creation or imposition of Liens could not, in
    the aggregate, have a Material Adverse Effect. No Default or Event of
    Default has occurred and is continuing.

                   . No Material Litigation. No litigation, investigation or
    proceeding of or before any arbitrator or Governmental Authority is pending
    or, to the knowledge of the Borrower, threatened by or against the Borrower
    or any of its Subsidiaries or against any of its or their respective
    properties or revenues as of the Closing Date (a) with respect to this
    Agreement or any of the actions contemplated hereby, or (b) which involves a
    probable risk of an adverse decision which would materially restrict the
    ability of the Borrower to comply with its obligations under this Agreement.

                   . Federal Regulations. No part of the proceeds of any Loans
    will be used for "buying," "purchasing" or "carrying" any "margin stock"
    within the respective meanings of each of the quoted terms under Regulation
    U of the Board of Governors of the Federal Reserve System as now and from
    time to time hereafter in effect or for any purpose which violates the
    provisions of the Regulations of such Board of Governors.

                   . Investment Company Act. The Borrower is not an "investment
    company", or a company "controlled" by an "investment company", within the
    meaning of the Investment Company Act of 1940, as amended.
                   . ERISA. The Borrower is in compliance with all material
    provisions of ERISA, except to the extent that all failures to be in
    compliance could not, in the aggregate, reasonably be expected to have a
    Material Adverse Effect.

                   . No Material Misstatements. No report, financial statement
    or other written information furnished by or on behalf of such Borrower to
    the Administrative Agent or any Lender pursuant to subsection 3.1 or
    subsection 5.1(a) contains or will contain any material misstatement of fact
    or omits or will omit to state any material fact necessary to make the
    statements therein, in light of the circumstances under which they were, are
    or will be made, not misleading, except to the extent that the facts
    (whether misstated or omitted) do not result in a Material Adverse Effect.
    No report, financial statement or other written information furnished by or
    on behalf of the Borrower for inclusion in the Confidential Information
    Memorandum contained as of the Closing Date any material misstatement of
    fact or omitted to state any material fact necessary to make the statements
    therein, in light of the circumstances under which they were made, not
    misleading. Any forward-looking information contained in the Confidential
    Information Memorandum is based upon good faith judgment believed by
    management of the Borrower to be reasonable at the time made, it being
    recognized by the Lenders that such information as it relates to future
    events is not to be viewed as fact and that actual results

<PAGE>   27

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    during the period or periods covered by such information may differ from the
    projected results set forth therein by a material amount.

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

                   . Subsidiaries. The Subsidiaries listed on Schedule 3.11
    constitute all the Subsidiaries of the Borrower on the date hereof which are
    "significant subsidiaries" within the meaning of Regulation S-X of the U.S.
    Securities and Exchange Commission (other than as set forth in such
    schedule).

                   . Year 2000 Matters. The Borrower uses software and related
    computer technologies essential to its operations that use two digits rather
    than four to specify the year, which could result in a date recognition
    problem with the transition to the year 2000. The Borrower has established a
    plan to identify and remediate potential Year 2000 problems in its material
    business information systems, infrastructure and production and
    manufacturing facilities and has surveyed its suppliers and service
    providers for Year 2000 compliance. The Borrower has completed an inventory
    of potentially date-sensitive material systems to determine which systems
    require remediation and developed remediation plans where necessary. The
    Borrower has completed the remediation and testing phase of its Year 2000
    plan and has implemented new enterprise software as part of its Year 2000
    remediation program. The Borrower does not anticipate that a Material
    Adverse Effect will occur as a result of the Year 2000 issue.
                   . Purpose of Loans. The proceeds of the Loans shall be used
    by the Borrower for its general corporate purposes including transactions
    with its Subsidiaries.

                         SECTION . CONDITIONS PRECEDENT

                   . Conditions to Initial Loans. The agreement of each Lender
    to make the initial Loan to be made by it is subject to the satisfaction,
    prior to or concurrently with the making of such Loan, of the following
    conditions precedent:

              () Credit Agreement. The Administrative Agent shall have received
    this Agreement, executed and delivered (including, without limitation, by
    way of a telecopied signature page) by a duly authorized officer of the
    Borrower and each Lender.

              () Secretary's Certificate. The Administrative Agent shall have
    received a certificate of the Secretary or Assistant Secretary of the
    Borrower, in form and substance satisfactory to the Administrative Agent,
    which certificate shall (i) certify as to the incumbency and signature of
    the officers of the Borrower executing this Agreement (with the President or
    a Vice President of the Borrower attesting to the incumbency and signature
    of the Secretary or Assistant Secretary providing such certificate), (ii)
    have attached to it a true, complete and correct copy of each of the
    certificate of incorporation

<PAGE>   28

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    and by-laws of the Borrower or a statement that there have been no changes
    since those previously delivered in connection with the Original Closing
    Date, (iii) have attached to it a true and correct copy of the resolutions
    of the Board of Directors of the Borrower or a duly authorized committee
    thereof or a duly authorized officer thereof, which resolutions shall
    authorize the execution, delivery and performance of this Agreement and the
    borrowings by the Borrower hereunder and (iv) certify that, as of the date
    of such certificate (which shall not be earlier than the date hereof), none
    of such certificate of incorporation, by-laws or resolutions shall have been
    amended, supplemented, modified, revoked or rescinded.

              () [RESERVED].

              () Legal Opinions. The Administrative Agent shall have received,
    (i) the executed legal opinion of Drinker Biddle & Reath LLP, counsel to the
    Borrower, substantially in the form of Exhibit F-1 and (ii) the executed
    legal opinion of Simpson Thacher & Bartlett, counsel to the Administrative
    Agent, substantially in the form of Exhibit F-2. The Borrower hereby
    instructs the counsel referenced in clause (i) to deliver its opinion for
    the benefit of the Administrative Agent and each of the Lenders.

              () No Material Adverse Effect. Other than as disclosed in the
    Borrower's 10-K dated March 17, 1999 or in the Confidential Information
    Memorandum, since December 31, 1998, no development or event shall have
    occurred that has had or could reasonably be expected to have a Material
    Adverse Effect.

    The Administrative Agent shall notify the Borrower and each Lender promptly
    after the satisfaction of the foregoing conditions.

                  . Conditions to Each Loan. The agreement of each Lender to
    make any Loan requested to be made by it on any date (including, without
    limitation, its initial Loan and any Competitive Loan to be made by it) is
    subject to the satisfaction of the following conditions:

              () Notice of Borrowing. The Administrative Agent shall have
    received a notice of borrowing, as required by subsection 2.2 or 2.3, as the
    case may be.

              () Representations and Warranties. Each of the representations and
    warranties made by the Borrower in or pursuant to this Agreement shall be
    true and correct in all material respects on and as of such date as if made
    on and as of such date, except to the extent any such representation and
    warranty specifically relates to an earlier date, in which case such
    representation and warranty shall have been true and correct as of such
    earlier date.

              () No Default. No Default or Event of Default shall have occurred
    and be continuing on such date or after giving effect to the Loans requested
    to be made on such date.

    Each borrowing by the Borrower hereunder shall constitute a representation
    and warranty by the Borrower as of the date of such Loan that the conditions
    contained in this subsection 4.2 have been satisfied.
<PAGE>   29

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                         SECTION . AFFIRMATIVE COVENANTS

              The Borrower hereby agrees that, so long as the Commitments remain
    in effect, or any amount is owing to any Lender or the Administrative Agent
    hereunder, the Borrower shall:

         . Financial Statements. Furnish to each Lender:

         () as soon as available, but in any event within 110 days after the end
    of each fiscal year of the Borrower, a copy of the audited consolidated
    balance sheet of the Borrower and its consolidated Subsidiaries as at the
    end of such year and the related audited consolidated statements of income
    and retained earnings and of cash flows for such year, setting forth in each
    case in comparative form the figures for the previous year; and

         () as soon as available, but in any event not later than 60 days after
    the end of each of the first three quarterly periods of each fiscal year of
    the Borrower, the unaudited consolidated balance sheet of the Borrower and
    its consolidated Subsidiaries as at the end of such quarter and the related
    unaudited consolidated statements of income and retained earnings and of
    cash flows of the Borrower and its consolidated Subsidiaries for such
    quarter and the portion of the fiscal year through the end of such quarter,
    setting forth in each case in comparative form the figures for the previous
    year;

    all such financial statements shall be complete and correct in all material
    respects and shall be prepared in accordance with GAAP applied consistently
    throughout the periods reflected therein and with prior periods (except as
    approved by such accountants or officer, as the case may be, and disclosed
    therein).

              . Certificates; Other Information. Furnish to:

         () each Lender, concurrently with the delivery of the financial
    statements referred to in subsection 5.1(a), a certificate of Deloitte &
    Touche or other independent certified public accountants of nationally
    recognized standing stating that, in making the examination necessary
    therefor, nothing came to their attention that caused them to believe that
    the Borrower was, as at the date at which such financial statements were
    made, in breach of subsection 6.1;

         () each Lender, concurrently with the delivery of the financial
    statements referred to in subsections 5.1(a) and 5.1(b), a certificate of a
    Financial Officer (i) stating that, to the best of such Officer's knowledge,
    (A) such financial statements present fairly the financial condition and
    results of operations of the Borrower and its Subsidiaries for the period
    referred to therein (subject, in the case of interim statements, to normal
    year-end audit adjustments) and (B) during such period the Borrower has
    performed all of its covenants and other agreements contained in this
    Agreement to be performed by it, and that no Default or Event of Default has
    occurred, except as specified in such certificate, and (ii) setting forth in
    reasonable detail the calculations required to establish whether the

<PAGE>   30

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    Borrower was in compliance with the provisions of subsection 6.1 on the date
    of such financial statements;

         () each Lender, within 15 days after the same become public, copies of
    all financial statements and reports which the Borrower may make to, or file
    with, the Securities and Exchange Commission or any successor or analogous
    Governmental Authority;

         () the Administrative Agent, within ten Business Days after the
    occurrence thereof, written notice of any change in Status; provided that
    the failure to provide such notice shall not delay or otherwise affect any
    change in the Applicable Margin or other amount payable hereunder which is
    to occur upon a change in Status pursuant to the terms of this Agreement;
    and

         () the Administrative Agent, promptly, such additional financial and
    other information as the Administrative Agent, on behalf of any Lender, may
    from time to time reasonably request and that is reasonably related to such
    Lender's credit analysis of the Borrower and which request does not impose
    an unreasonable burden on the Borrower to satisfy.

              . Notices. Promptly give notice to the Administrative Agent and
    each Lender of (a) the occurrence of any Default or Event of Default,
    accompanied by a statement of a Financial Officer setting forth details of
    the occurrence referred to therein and stating what action the Borrower
    proposes to take with respect thereto and (b) so long as the Borrower is not
    subject to the periodic reporting requirements of the Securities Exchange
    Act of 1934, as amended, (i) the filing or commencement of any action, suit
    or proceeding by or before any arbitrator or Governmental Authority against
    or affecting the Borrower or any affiliate thereof that could reasonably be
    expected to result in a Material Adverse Effect and (ii) any other
    development that results in, or could reasonably be expected to result in, a
    Material Adverse Effect.

              . Conduct of Business and Maintenance of Existence. (a) Continue
    to engage in its principal line of business as now conducted by it, (b)
    preserve, renew and keep in full force and effect its corporate existence
    and (c) take all reasonable action to maintain all rights, privileges and
    franchises necessary or desirable in the normal conduct of its principal
    line of business, except, in any such case, as otherwise permitted pursuant
    to subsection 6.5 or to the extent that failure to do so would not have a
    Material Adverse Effect.

              . Books and Records. The Borrower will, and will cause each of its
    Subsidiaries to, keep proper books of record and account in which full, true
    and correct entries are made of all dealings and transactions in relation to
    its business and activities.

              . Environmental Laws. Except as could not in the aggregate
    reasonably be expected to result in a Material Adverse Effect:

         () comply with all applicable Environmental Laws, and obtain and comply
    with and maintain any and all permits, licenses or other approvals required
    by applicable Environmental Laws; and

<PAGE>   31

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         () 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 all Governmental Authorities regarding Environmental Laws.

                          SECTION . NEGATIVE COVENANTS

              The Borrower hereby agrees that, so long as the Commitments remain
    in effect or any amount is owing to any Lender or the Administrative Agent
    hereunder:

              . Consolidated Leverage Ratio. The Borrower shall not, directly or
    indirectly, permit the Consolidated Leverage Ratio to exceed 3.25 to 1.0 at
    the end of any fiscal quarter.

              . Indebtedness. The Borrower shall not, directly or indirectly,
    permit any Subsidiary to, create, incur, assume or permit to exist any
    Indebtedness or any guarantee of Indebtedness (other than Indebtedness of
    any Subsidiary to the Borrower or to any other Subsidiary and other than
    Permitted Receivables Financings), except Indebtedness and guarantees in an
    aggregate principal amount at any one time outstanding, which when combined
    with (but without duplication) (i) the aggregate outstanding principal
    amount of obligations secured by a Lien upon any of the property or revenues
    of the Borrower or any of its Subsidiaries at such time and (ii) the
    aggregate amount of Sale-Leasebacks consummated since the Original Closing
    Date and which are outstanding on the relevant date of determination (other
    than Sale-Leasebacks to the extent the proceeds thereof are used to
    refinance any Sale-Leaseback which was in existence on the Original Closing
    Date), shall not exceed 15% of Consolidated Total Assets as reflected in the
    most recent annual audited consolidated financial statements of the Borrower
    delivered pursuant to subsection 5.1(a).

              . Liens. The Borrower shall not nor shall it permit any Subsidiary
    to, directly or indirectly, create, incur, assume or suffer to exist any
    Lien upon any of its property or revenues, whether now owned or hereafter
    acquired, except Liens at any one time outstanding with respect to which the
    aggregate outstanding principal amount of the obligations secured thereby,
    which when combined with (but without duplication) (i) the aggregate
    principal amount of Indebtedness and guarantees of Indebtedness of any
    Subsidiary outstanding at such time (other than Indebtedness of any
    Subsidiary to the Borrower or to any other Subsidiary and other than
    Permitted Receivables Financings) and (ii) the aggregate amount of
    Sale-Leasebacks consummated since the Original Closing Date and which are
    outstanding on the relevant date of determination (other than
    Sale-Leasebacks to the extent the proceeds thereof are used to refinance any
    Sale-Leaseback which was in existence on the Original Closing Date), shall
    not exceed 15% of Consolidated Total Assets as reflected in the most recent
    annual audited consolidated financial statements of the Borrower delivered
    pursuant to subsection 5.1(a).

              . Sale-Leasebacks. The Borrower shall not nor shall it permit any
    Subsidiary to, directly or indirectly, enter into any arrangement with any
    Person providing for the leasing by the Borrower or any Subsidiary of any
    property owned by the Borrower or any Subsidiary (except for leases between
    the Borrower and a Subsidiary

<PAGE>   32

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    or between Subsidiaries), which property has been or is to be sold or
    transferred by the Borrower or such Subsidiary to such Person
    ("Sale-Leasebacks"), except for Sale-Leasebacks consummated since the
    Original Closing Date and which are outstanding on the relevant date of
    determination (other than Sale-Leasebacks to the extent the proceeds thereof
    are used to refinance any Sale-Leaseback which was in existence on the
    Original Closing Date) in an aggregate amount, which when combined with (but
    without duplication) (i) the aggregate outstanding principal amount of
    obligations secured by a Lien upon any of the property or revenues of the
    Borrower or any of its Subsidiaries at the time of entering into any such
    Sale-Leaseback and (ii) the aggregate principal amount of Indebtedness and
    guarantees of Indebtedness of any Subsidiary outstanding at such time (other
    than Indebtedness of any Subsidiary to the Borrower or to any other
    Subsidiary and other than Permitted Receivables Financings), shall not
    exceed 15% of Consolidated Total Assets as reflected in the most recent
    annual audited consolidated financial statements of the Borrower delivered
    pursuant to subsection 5.1(a).

              . Merger, Consolidation, etc. The Borrower shall not, directly or
    indirectly, merge or consolidate with any other Person, or liquidate, wind
    up or dissolve itself (or suffer any liquidation or dissolution) or sell or
    convey all or substantially all of its assets to any Person unless, in the
    case of mergers and consolidations, (a) the Borrower shall be the continuing
    corporation and (b) immediately before and immediately after giving effect
    to such merger or consolidation, no Default or Event of Default shall have
    occurred and be continuing.

                           SECTION . EVENTS OF DEFAULT

              If any of the following events shall occur and be continuing:

         () The Borrower shall () fail to pay any principal of any Loan when due
    in accordance with the terms hereof or () fail to pay any interest on any
    Loan or any other amount which is payable hereunder and (in the case of this
    clause (ii) only) such failure shall continue unremedied for more than five
    Business Days after written notice thereof has been given to the Borrower by
    the Administrative Agent or the Majority Lenders; or

         () Any representation or warranty made or deemed made by the Borrower
    in Section 3 or any certified statement furnished pursuant to subsection
    5.2(b) shall prove to have been incorrect on or as of the date made or
    deemed made or certified if the facts or circumstances incorrectly
    represented or certified result in a Material Adverse Effect; or

         () The Borrower shall default in the observance of the agreement
    contained in subsection 5.3(a) or subsection 5.4(a) or (b) or Section 6; or

         () The Borrower shall default in the observance or performance of any
    other agreement contained in this Agreement (other than as provided in
    paragraphs (a), (b) and (c) of this Section 7), and such default shall
    continue unremedied for a period of 30 days after written notice thereof
    shall have been given to the Borrower by the Administrative Agent or the
    Majority Lenders; or

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         () The Borrower or any Significant Subsidiary shall default in any
    payment of $25,000,000 or more of principal of or interest on any
    Indebtedness or in the payment of $25,000,000 or more on account of any
    guarantee in respect of Indebtedness, beyond the period of grace, if any,
    provided in the instrument or agreement under which such Indebtedness or
    guarantee was created; or

         () Any event or condition occurs that results in any Indebtedness or
    any guarantee of Indebtedness of the Borrower or any of its Significant
    Subsidiaries of an aggregate principal amount of $25,000,000 or more
    becoming due in full or payable in full prior to the scheduled maturity of
    such Indebtedness or guarantee or that requires the prepayment, repurchase,
    redemption or defeasance thereof in full, prior to the scheduled maturity of
    such Indebtedness or guarantee (other than pursuant to any voluntary
    prepayments, customary due-on-sale clause or any provision requiring
    prepayment of such Indebtedness based on excess cash flow, permitted asset
    sales or permitted debt or equity issuances, in each case contained in the
    terms of such Indebtedness); provided that this clause (f) shall not apply
    to secured Indebtedness that becomes due as a result of the voluntary sale
    or transfer of the property or assets securing such Indebtedness;

         () (i) The Borrower or any of its Significant Subsidiaries shall
    commence any case, proceeding or other action (A) under any existing or
    future law of any jurisdiction, domestic or foreign, relating to bankruptcy,
    insolvency, reorganization or relief of debtors, seeking to have an order
    for relief entered with respect to it, or seeking to adjudicate it a
    bankrupt or insolvent, or seeking reorganization, arrangement, adjustment,
    winding-up, liquidation, dissolution, composition or other relief with
    respect to it or its debts, or (B) seeking appointment of a receiver,
    trustee, custodian, conservator or other similar official for it or for all
    or any substantial part of its assets, or the Borrower or any of its
    Significant Subsidiaries shall make a general assignment for the benefit of
    its creditors; or (ii) there shall be commenced against the Borrower or any
    of its Significant Subsidiaries any case, proceeding or other action of a
    nature referred to in clause (i) above which (A) results in the entry of an
    order for relief or any such adjudication or appointment or (B) remains
    undismissed, undischarged or unbonded for a period of 90 days; or (iii)
    there shall be commenced against the Borrower or any of its Significant
    Subsidiaries any case, proceeding or other action seeking issuance of a
    warrant of attachment, execution, distraint or similar process against all
    or any substantial part of its assets which results in the entry of an order
    for any such relief which shall not have been vacated, discharged, or stayed
    or bonded pending appeal within 90 days from the entry thereof; or

         () One or more judgments or decrees shall (i) be entered against the
    Borrower, (ii) not have been vacated, discharged, satisfied, stayed or
    bonded pending appeal within 60 days from the entry thereof and (iii)
    involve a liability (not paid or fully covered by insurance) of either (A)
    $20,000,000 or more, in the case of any single judgment or decree or (B)
    $50,000,000 or more in the aggregate, in the case of all such judgments and
    decrees; or

         () The Borrower or any of its Significant Subsidiaries shall default in
    the performance of any of its obligations under, or otherwise fail to
    observe or perform any covenant, condition or agreement contained in, any of
    the Material Agreements, to the

<PAGE>   34

34

    extent the consequences of any such default or failure could reasonably be
    expected to result in a Material Adverse Effect;

    then, and in any such event, (A) if such event is an Event of Default
    specified in clause (i) or (ii) of paragraph (g) above with respect to the
    Borrower, automatically the Commitments shall immediately terminate and the
    Loans hereunder (with accrued interest thereon) and all other amounts owing
    under this Agreement shall immediately become due and payable, and (B) if
    such event is any other Event of Default, either or both of the following
    actions may be taken: (i) with the consent of the Majority Lenders, the
    Administrative Agent may, or upon the request of the Majority Lenders, the
    Administrative Agent shall, by notice to the Borrower declare the
    Commitments to be terminated forthwith, whereupon the Commitments shall
    immediately terminate; and (ii) with the consent of the Majority Lenders,
    the Administrative Agent may, or upon the request of the Majority Lenders,
    the Administrative Agent shall, by notice to the Borrower, declare the Loans
    hereunder (with accrued interest thereon) and all other amounts owing under
    this Agreement to be due and payable forthwith, whereupon the same shall
    immediately become due and payable. Except as expressly provided above in
    this Section 7, presentment, demand, protest and all other notices of any
    kind are hereby expressly waived.

                       SECTION . THE ADMINISTRATIVE AGENT

              . Appointment. Each Lender hereby irrevocably designates and
    appoints Chase as the Administrative Agent of such Lender under this
    Agreement, and each such Lender irrevocably authorizes Chase, as the
    Administrative Agent for such Lender, to take such action on its behalf
    under the provisions of this Agreement and to exercise such powers and
    perform such duties as are expressly delegated to the Administrative Agent
    by the terms of this Agreement, together with such other powers as are
    reasonably incidental thereto. Notwithstanding any provision to the contrary
    elsewhere in this Agreement, the Administrative Agent shall not have any
    duties or responsibilities, except those expressly set forth herein, or any
    fiduciary relationship with any Lender, and no implied covenants, functions,
    responsibilities, duties, obligations or liabilities shall be read into this
    Agreement or otherwise exist against the Administrative Agent.

              . Delegation of Duties. The Administrative Agent may execute any
    of its duties under this Agreement 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 it
    with reasonable care.

              . Exculpatory Provisions. Neither the Administrative Agent nor any
    of its officers, directors, employees or affiliates shall be (i) liable for
    any action lawfully taken or omitted to be taken by it or such Person under
    or in connection with this Agreement (except for its or such Person's own
    gross negligence or willful misconduct) or (ii) responsible in any manner to
    any of the Lenders for any recitals, statements, representations or
    warranties made by the Borrower or any officer thereof contained in this
    Agreement 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

<PAGE>   35

35

    Agreement or for the value, validity, effectiveness, genuineness,
    enforceability or sufficiency of this Agreement or for any failure of the
    Borrower to perform its obligations hereunder. 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 the Borrower.

              . Reliance by Administrative Agent. The Administrative Agent shall
    be entitled to rely, and shall be fully protected in relying, upon any
    writing, resolution, notice, consent, certificate, affidavit, letter,
    telecopy, telex or teletype message, statement, order or other document or
    conversation believed by it in good faith 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 Borrower), independent accountants and other experts selected
    by the Administrative Agent. The Administrative Agent may deem and treat the
    Lender specified in the Register with respect to any amount owing hereunder
    as the owner thereof for all purposes unless a written notice of assignment,
    negotiation or transfer thereof shall have been filed with the
    Administrative Agent. The Administrative Agent shall be fully justified in
    failing or refusing to take any action under this Agreement unless it shall
    first receive such advice or concurrence of the Majority 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. The
    Administrative Agent shall in all cases be fully protected in acting, or in
    refraining from acting, under this Agreement in accordance with a request of
    the Majority Lenders (or, to the extent that this Agreement expressly
    requires a higher percentage of Lenders, such higher percentage), 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 obligations owing
    by the Borrower hereunder.

              . 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 the Administrative Agent has received written
    notice from a Lender or the Borrower 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, the Administrative Agent shall promptly notify the Borrower (unless
    the Borrower shall have delivered such notice to the Administrative Agent)
    and then give notice thereof to the Lenders (provided that the failure to
    notify the Borrower shall not impair any of the rights of the Administrative
    Agent and the Lenders with respect to the events and circumstances specified
    in such notice). The Administrative Agent shall take such action with
    respect to such Default or Event of Default as shall be reasonably directed
    by the Majority 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.

              . Non-Reliance on Administrative Agent and Other Lenders. Each
    Lender expressly acknowledges that neither the Administrative Agent nor any
    of its officers, directors, employees, agents, attorneys-in-fact or
    affiliates has made any

<PAGE>   36

36

    representations or warranties to it and that no act by the Administrative
    Agent hereinafter taken, including any review of the affairs of the
    Borrower, 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 Borrower and made its own decision to
    make its Loans 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 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 Borrower. Except for notices,
    reports and other documents expressly required to be furnished to the
    Lenders by the Administrative Agent hereunder, 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,
    condition (financial or otherwise), prospects or creditworthiness of the
    Borrower which may come into the possession of the Administrative Agent or
    any of its officers, directors, employees, agents, attorneys-in-fact or
    affiliates.

              . Indemnification. The Lenders agree to indemnify the
    Administrative Agent in its capacity as such (to the extent not reimbursed
    by the Borrower and without limiting the obligation of the Borrower to do
    so), ratably according to their respective Commitment Percentages in effect
    on the date on which indemnification is sought under this subsection 8.7
    (or, if indemnification is sought after the date upon which the Commitments
    shall have terminated and the Loans shall have been paid in full, ratably in
    accordance with their Commitment Percentages immediately prior to such date
    of payment in full), 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 amounts owing
    hereunder) be imposed on, incurred by or asserted against the Administrative
    Agent in any way relating to or arising out of this Agreement 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 resulting from
    the Agent's gross negligence or willful misconduct. The Administrative Agent
    shall have the right to deduct any amount owed to it by any Lender under
    this subsection 8.7 from any payment made by it to such Lender hereunder.
    The agreements in this subsection 8.7 shall survive the payment of the Loans
    and all other amounts payable hereunder.

              . Administrative Agent in Its Individual Capacity. The
    Administrative Agent and its affiliates may make loans to, accept deposits
    from and generally engage in any kind of business with the Borrower as
    though the Administrative Agent were not the Administrative Agent hereunder.
    With respect to its Loans made or renewed by it, the Administrative Agent
    shall have the same rights and powers under this Agreement as any

<PAGE>   37

37

    Lender and may exercise the same as though it were not the Administrative
    Agent, and the terms "Lender" and "Lenders" shall include the Administrative
    Agent in its individual capacity.

              . Successor Administrative Agent. The Administrative Agent may
    resign as Administrative Agent upon 90 days' notice to the Lenders and the
    Borrower and following the appointment of a successor Administrative Agent
    in accordance with the provisions of this subsection 8.9. If the
    Administrative Agent shall resign as Administrative Agent under this
    Agreement, then the Majority Lenders shall appoint from among the Lenders
    willing to serve as Administrative Agent a successor Administrative Agent
    for the Lenders, which successor Administrative Agent shall be approved by
    the Borrower (which approval shall not be unreasonably withheld), whereupon
    such successor Administrative Agent shall succeed to the rights, powers and
    duties of the Administrative Agent, and the term "Administrative Agent"
    shall mean such successor Administrative Agent effective upon such
    appointment and approval, and the former Administrative Agent's rights,
    powers and duties as Administrative Agent shall be terminated, without any
    other or further act or deed on the part of such former Administrative Agent
    or any of the parties to this Agreement or any holders of the obligations
    owing hereunder. If no successor agent has accepted appointment as
    Administrative Agent by the date that is 90 days following a retiring
    Administrative Agent's notice of resignation, the retiring Administrative
    Agent's resignation shall nevertheless thereupon become effective and the
    Lenders shall assume and perform all of the duties of the Administrative
    Agent hereunder until such time, if any, as the Majority Lenders appoint a
    successor agent as provided for above. After any retiring Administrative
    Agent's resignation as Administrative Agent, the provisions of this Section
    8 shall inure to its benefit as to any actions taken or omitted to be taken
    by it while it was Administrative Agent under this Agreement.

              . Syndication Agents and Documentation Agent. Neither of the
    Syndication Agents nor the Documentation Agent shall have any duties or
    responsibilities hereunder in their capacities as such.

                             SECTION . MISCELLANEOUS

              . Amendments and Waivers. Neither this Agreement, nor any terms
    hereof may be amended, supplemented or modified except in accordance with
    the provisions of this subsection 9.1. The Majority Lenders may, or, with
    the written consent of the Majority Lenders, the Administrative Agent may,
    from time to time, (a) enter into with the Borrower written amendments,
    supplements or modifications hereto for the purpose of adding any provisions
    to this Agreement or changing in any manner the rights of the Lenders or of
    the Borrower hereunder or (b) waive, on such terms and conditions as the
    Majority Lenders or the Administrative Agent, as the case may be, may
    specify in such instrument, any of the requirements of this Agreement or any
    Default or Event of Default and its consequences; provided, however, that no
    such waiver and no such amendment, supplement or modification shall (i)
    reduce the principal amount of any Loan, or reduce the stated rate of any
    interest or fee payable hereunder, or extend the scheduled date of any
    payment thereof, or increase the amount or extend the expiration date of any
    Lender's Commitment, in each case without the consent of each Lender

<PAGE>   38

38

    directly affected thereby, or (ii) amend, modify or waive any provision of
    this subsection 9.1 or reduce the percentage specified in the definition of
    Majority Lenders, or consent to the assignment or transfer by the Borrower
    of any of its rights and obligations under this Agreement, in each case
    without the written consent of all the Lenders, or (iii) amend, modify or
    waive any provision of Section 8 or any other provision of this Agreement
    governing the rights or obligations of the Administrative Agent without the
    written consent of the then Administrative Agent. Any such waiver and any
    such amendment, supplement or modification shall apply equally to each of
    the Lenders and shall be binding upon the Borrower, the Lenders, the
    Administrative Agent and all future holders of the obligations owing
    hereunder. In the case of any waiver, the Borrower, the Lenders and the
    Administrative Agent shall be restored to their former position and rights
    hereunder, and any Default or Event of Default waived shall be deemed to be
    cured and not continuing; but no such waiver shall extend to any subsequent
    or other Default or Event of Default, or impair any right consequent
    thereon.

              . Notices. All notices, requests and demands to or upon the
    respective parties hereto to be effective shall be in writing (including by
    telecopy), and, unless otherwise expressly provided herein, shall be deemed
    to have been duly given or made when delivered by hand, or four days after
    being deposited in the mail, postage prepaid, or, in the case of telecopy
    notice, when received, addressed as follows in the case of the Borrower and
    the Administrative Agent, and as set forth in Schedule II in the case of the
    other parties hereto, or to such other address as may be hereafter notified
    by the respective parties hereto and any future holders of the obligations
    owing hereunder:

         The Borrower:       Delphi Automotive Systems Corporation
                             5725 Delphi Drive
                             Troy, Michigan  48098
                             Attention: Treasurer
                             Telecopy: (248) 813-2590
                             Telephone: (248) 813-2592

         The Administrative
         Agent:              The Chase Manhattan Bank
                             The Loan and Agency Services Group
                             One Chase Manhattan Plaza
                             8th Floor
                             New York, New York  10081
                             Attention: Lenora Kiernan
                             Telecopy:  (212) 552-5650
                        Telephone:  (212) 552-7309

    with a copy to:     The Chase Manhattan Bank
                             270 Park Avenue
                             47th Floor
                             New York, New York  10017
                        Attention:  Rick Duker
                        Telecopy:  (212) 972-9854
                        Telephone:  (212) 270-3057

<PAGE>   39

39

    provided that any notice, request or demand to or upon the Administrative
    Agent or the Lenders pursuant to subsection 2.2, 2.3, 2.4, 2.5 and 2.6 shall
    not be effective until received.

              . No Waiver; Cumulative Remedies. No failure to exercise and no
    delay in exercising, on the part of the Administrative Agent or any Lender,
    any right, remedy, power or privilege hereunder shall operate as a waiver
    thereof; nor shall any single or partial exercise of any right, remedy,
    power or privilege hereunder preclude any other or further exercise thereof
    or the exercise of any other right, remedy, power or privilege. The rights,
    remedies, powers and privileges herein provided are cumulative and not
    exclusive of any rights, remedies, powers and privileges provided by law.

              . Survival of Representations and Warranties. All representations
    and warranties made hereunder and in any document, certificate or statement
    delivered pursuant hereto or in connection herewith shall survive the
    execution and delivery of this Agreement and the making of the Loans
    hereunder.

              . Payment of Expenses and Taxes. The Borrower agrees (a) to pay or
    reimburse the Administrative Agent for all its reasonable out-of-pocket
    costs and expenses reasonably incurred in connection with the development,
    preparation and execution of, and any amendment, supplement or modification
    to, this Agreement and any other documents prepared in connection herewith
    or therewith, and the consummation and administration of the transactions
    contemplated hereby and thereby, including, without limitation, the
    reasonable fees and disbursements of counsel to the Administrative Agent,
    (b) to pay or reimburse each Lender and the Administrative Agent for all its
    reasonable costs and expenses reasonably incurred in connection with the
    enforcement of any rights under this Agreement, including, without
    limitation, the reasonable fees and disbursements of counsel to the
    Administrative Agent and to the several Lenders (other than those incurred
    in connection with the compliance by the relevant Lender with the provisions
    of subsection 2.18(a)), and (c) to pay, indemnify, and hold each Lender and
    the Administrative Agent harmless from, any and all recording and filing
    fees and any and all liabilities with respect to, or resulting from any
    delay by the Borrower in paying, stamp, excise and other taxes, if any,
    which may be payable or determined to be payable in connection with the
    execution and delivery of, or consummation or administration of any of the
    transactions contemplated by, or any amendment, supplement or modification
    of, or any waiver or consent under or in respect of, this Agreement, and (d)
    to pay, indemnify, and hold each Lender and the Administrative Agent
    harmless from and against any and all other liabilities, obligations,
    losses, damages, penalties, actions, judgments, suits, costs, reasonable
    expenses or disbursements of any kind or nature whatsoever (it being
    understood that this shall not include the fees and disbursements of counsel
    to any of the Lenders (other than Chase) in connection with (i) their review
    of this Agreement prior to the Closing Date or (ii) prior to the occurrence
    of a Default or an Event of Default, any amendment or waiver to this
    Agreement or any assignment to another Lender pursuant to the terms hereof)
    with respect to the execution, delivery, enforcement, performance and
    administration of this Agreement (all the foregoing in this clause (d),
    collectively, the "indemnified liabilities"); provided that the Borrower
    shall have no obligation hereunder to the Administrative Agent or any Lender
    with respect to indemnified liabilities arising from the gross negligence or
    willful misconduct of the Administrative Agent or any such Lender. The

<PAGE>   40

40

    agreements in this subsection 9.5 shall survive repayment of the Loans and
    all other amounts payable hereunder.

              . Successors and Assigns; Participations and Assignments. () This
    Agreement shall be binding upon and inure to the benefit of the Borrower,
    the Lenders, the Administrative Agent, all future holders of the obligations
    owing hereunder and their respective successors and assigns, except that the
    Borrower may not assign or transfer any of its rights or obligations under
    this Agreement without the prior written consent of each Lender.

              () Any Lender may, in the ordinary course of its business and in
    accordance with applicable law, at any time sell to one or more banks,
    financial institutions or other entities ("Participants") participating
    interests in any Loan owing to such Lender, any Commitment of such Lender or
    any other interest of such Lender hereunder; provided that such Lender shall
    have given prior written notice to the Borrower of the identity of such
    Participant. In the event of any such sale by a Lender of a participating
    interest to a Participant, such Lender's obligations under this Agreement to
    the other parties to this Agreement shall remain unchanged, such Lender
    shall remain solely responsible for the performance thereof, such Lender
    shall remain the holder of any obligation owing to it hereunder for all
    purposes under this Agreement, and the Borrower and the Administrative Agent
    shall continue to deal solely and directly with such Lender in connection
    with such Lender's rights and obligations under this Agreement. In no event
    shall any Participant under any such participation have any right to approve
    any amendment or waiver of any provision of this Agreement, or any consent
    to any departure by the Borrower therefrom, except to the extent that such
    amendment, waiver or consent would reduce the principal of, or interest on,
    the Loans or any fees payable hereunder, or postpone the date of the final
    maturity of the Loans, in each case to the extent subject to such
    participation. The Borrower hereby agrees that each Participant shall be
    entitled to the benefits of subsections 2.15, 2.16 and 2.17 with respect to
    its participation in the Commitments and the Loans outstanding from time to
    time as if it was a Lender; provided that no Participant shall be entitled
    to receive any greater amount pursuant to any such subsection than the
    transferor Lender would have been entitled to receive in respect of the
    amount of the participation transferred by such transferor Lender to such
    Participant had no such transfer occurred.

              () Any Lender may, in the ordinary course of its business and in
    accordance with applicable law, at any time and from time to time assign to
    any Lender or any affiliate thereof or, with the consent of the Borrower
    (which shall not be unreasonably withheld) and the Administrative Agent, to
    an additional bank or financial institution (an "Assignee") all or any part
    of its rights and obligations under this Agreement pursuant to an Assignment
    and Acceptance, substantially in the form of Exhibit E, executed by such
    Assignee, such assigning Lender (and, in the case of an Assignee that is not
    then a Lender or an affiliate thereof, by the Borrower and the
    Administrative Agent) and delivered to the Administrative Agent for its
    acceptance and recording in the Register; provided that, unless the Borrower
    and the Administrative Agent otherwise consent, any such assignment to an
    Assignee which is not a Lender (before giving effect to such assignment) or
    an affiliate thereof shall be in a minimum amount of $10,000,000. Upon such
    execution, delivery, acceptance and recording, from and after the effective
    date determined pursuant to such Assignment and Acceptance, (x)

<PAGE>   41

41

    the Assignee thereunder shall be a party hereto and, to the extent provided
    in such Assignment and Acceptance, have the rights and obligations of (and
    be) a Lender hereunder with a Commitment as set forth therein, and (y) the
    assigning Lender thereunder shall, to the extent provided in such Assignment
    and Acceptance, be released from its obligations under this Agreement (and,
    in the case of an Assignment and Acceptance covering all or the remaining
    portion of an assigning Lender's rights and obligations under this
    Agreement, such assigning Lender shall cease to be a party hereto).
    Notwithstanding anything to the contrary contained herein, any Lender may
    sell, transfer, assign or grant participations in all or any part of the
    Competitive Loans made by it.

              () The Administrative Agent shall maintain at its address referred
    to in subsection 9.2 a copy of each Assignment and Acceptance delivered to
    it and a register (the "Register") for the recordation of the names and
    addresses of the Lenders and the Commitment of, and principal amount of the
    Loans owing to, each Lender from time to time. The entries in the Register
    shall be prima facie evidence of the existence and amounts of the
    obligations of the Borrower therein recorded, and the Borrower, the
    Administrative Agent and the Lenders may treat each Person whose name is
    recorded in the Register as the owner of the Loan recorded therein for all
    purposes of this Agreement. The Register shall be available for inspection
    and copying by the Borrower or any Lender at any reasonable time and from
    time to time upon reasonable prior notice. The Administrative Agent shall
    provide a copy of the Register to the Borrower on a monthly basis.

              () Upon its receipt of an Assignment and Acceptance executed by an
    assigning Lender and an Assignee (and, in the case of an Assignee that is
    not then a Lender or an affiliate thereof, by the Borrower and the
    Administrative Agent) together with payment by the Lender to the
    Administrative Agent of a registration and processing fee of $3,500, the
    Administrative Agent shall (i) promptly accept such Assignment and
    Acceptance and (ii) on the effective date determined pursuant thereto record
    the information contained therein in the Register and give notice of such
    acceptance and recordation to the assigning Lender, its Assignee and the
    Borrower.

              () The Borrower authorizes each Lender to disclose to any
    prospective Participant, any Participant or any prospective Assignee (each,
    a "Transferee") any and all financial information in such Lender's
    possession concerning the Borrower and its affiliates which has been
    delivered to such Lender by or on behalf of the Borrower pursuant to this
    Agreement or which has been delivered to all Lenders by or on behalf of the
    Borrower in connection with their respective credit evaluations of the
    Borrower and its affiliates prior to becoming a party to this Agreement;
    provided that (i) such Transferee has executed and delivered to the Borrower
    a written confidentiality agreement substantially in the form of that which
    has been executed and delivered by each Lender prior to the date hereof and
    (ii) in the case of any information other than that contained in the
    Confidential Information Memorandum, the Borrower has been informed of the
    identity of such Transferee and has consented to the disclosure of such
    information thereto. Nothing contained in this subsection 9.6(f) shall be
    deemed to prohibit the delivery to any Transferee of any financial
    information which is otherwise publicly available.

<PAGE>   42

42

              () Nothing herein shall prohibit any Lender from pledging or
    assigning all or any portion of its Loans to any Federal Reserve Bank in
    accordance with applicable law. In order to facilitate such pledge or
    assignment, the Borrower hereby agrees that, upon request of any Lender at
    any time and from time to time after the Borrower has made its initial
    borrowing hereunder, the Borrower shall provide to such Lender, at the
    Borrower's own expense, a promissory note, substantially in the form of
    Exhibit G, evidencing the Revolving Credit Loans owing to such Lender.

              . Adjustments. If any Lender (a "benefitted Lender") shall at any
    time receive any payment of all or part of its Loans, or interest thereon,
    or receive any collateral in respect thereof (whether voluntarily or
    involuntarily, by set-off, pursuant to events or proceedings of the nature
    referred to in Section 7(g), or otherwise), such that it has received
    aggregate payments or collateral on account of its Loans in a greater
    proportion than any such payment to or collateral received by any other
    Lender, if any, in respect of such other Lender's Loans which are then due
    and payable, or interest thereon, such benefitted Lender shall purchase for
    cash from the other Lenders a participating interest in such portion of each
    such other Lender's Loans, or shall provide such other Lenders with the
    benefits of any such collateral, or the proceeds thereof, as shall be
    necessary to cause such benefitted Lender to share the excess payment or
    benefits of such collateral or proceeds ratably with each of the Lenders;
    provided, however, that if all or any portion of such excess payment or
    benefits is thereafter recovered from such benefitted Lender, such purchase
    shall be rescinded, and the purchase price and benefits returned, to the
    extent of such recovery, but without interest.

              . Counterparts. () This Agreement may be executed by one or more
    of the parties to this Agreement on any number of separate counterparts
    (including by telecopy), and all of said counterparts taken together shall
    be deemed to constitute one and the same instrument. A set of the copies of
    this Agreement signed by all the parties shall be lodged with the Borrower
    and the Administrative Agent.

              (b) By its signature hereto, each Lender hereby agrees that this
    Agreement shall become effective immediately upon the execution and delivery
    on January 3, 2000 by the Borrower and the Administrative Agent of this
    Agreement. In the event that this Agreement has not been duly executed and
    delivered by each Person listed on the signature pages hereto (other than
    the Borrower and the Administrative Agent, with respect to which the
    execution and delivery of this Agreement shall be a condition precedent to
    its effectiveness) on or before the date upon which this Agreement becomes
    effective in accordance with the immediately preceding sentence, this
    Agreement shall nevertheless become effective with respect to those Persons
    who have executed and delivered it on or before such effective date and
    those Persons who have not executed and delivered it (such Persons, the
    "Non-Executing Banks") shall be deemed not to be Lenders hereunder.

              (c) On the date of effectiveness of this Agreement, the Borrower
    may (after consultation with the Administrative Agent) designate one or more
    Lenders (the "Designated Lenders") to assume the Commitments which would
    have been held by the Non-Executing Banks and, if the Designated Lenders
    agree to assume such Commitments, (i) Schedules I and II shall be deemed to
    be amended to reflect such increase in the respective Commitment of each
    Designated Lender and the omission of

<PAGE>   43

43

    each Non-Executing Bank as a Lender hereunder and (ii) the respective
    Commitment of each Designated Lender shall be deemed to be such increased
    amount for all purposes hereunder.

              (d) Notwithstanding anything to the contrary contained herein, (i)
    the Commitment of a Lender shall not be increased (without the prior written
    consent of such Lender) as a result of the failure of any other Person to
    execute and deliver this Agreement or otherwise and (ii) in no event shall
    the aggregate Commitments of all Lenders exceed $1,500,000,000.

              . Severability. Any provision of this Agreement which is
    prohibited or unenforceable in any jurisdiction shall, as to such
    jurisdiction, be ineffective to the extent of such prohibition or
    unenforceability without invalidating the remaining provisions hereof, and
    any such prohibition or unenforceability in any jurisdiction shall not
    invalidate or render unenforceable such provision in any other jurisdiction.

              . GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF
    THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
    INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

              . 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 and its affiliates' directors, officers, employees and agents,
    including accountants, legal counsel and other advisors (it being understood
    that the Persons to whom such disclosure is made will be informed of the
    confidential nature of such Information and instructed to keep such
    Information confidential), (b) to the extent required 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 subsection, to any Assignee of or
    Participant in, or any prospective Assignee of or Participant in, any of its
    rights or obligations under this Agreement, (g) with the consent of the
    Borrower or (h) to the extent such Information (i) becomes publicly
    available other than as a result of a breach of this subsection or (ii)
    becomes available to the Administrative Agent, the Issuing Lender or any
    Lender on a nonconfidential basis from a source other than the Borrower. For
    the purposes of this Section, "Information" means all information received
    from the Borrower relating to the Borrower or its 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
    Borrower; provided that, in the case of information received from the
    Borrower after the date hereof, such information is clearly identified at
    the time of delivery as confidential. Any Person required to maintain the
    confidentiality of Information as provided in this subsection 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.

<PAGE>   44

44

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

                                            DELPHI AUTOMOTIVE SYSTEMS
                                            CORPORATION

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            THE CHASE MANHATTAN BANK, as
                                            Administrative Agent and as a Lender

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BANK OF AMERICA, NATIONAL
                                            ASSOCIATION, as Syndication Agent
                                            and as a Lender

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            CITIBANK, N.A., as Syndication Agent
                                            and as a Lender

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            DEUTSCHE BANK AG
                                            NEW YORK BRANCH, as Syndication
                                            Agent

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            DEUTSCHE BANK AG
                                            NEW YORK BRANCH AND/OR
                                            CAYMAN ISLANDS BRANCH, as Lender

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BARCLAYS BANK PLC, as Syndication
                                            Agent and Lender

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BANQUE NATIONALE DE PARIS, as
                                            Syndication Agent and Lender

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            AUSTRALIA AND NEW ZEALAND BANKING
                                            GROUP LIMITED

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BANCA COMMERCIALE ITALIANA - NEW
                                            YORK BRANCH

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BANCA DI ROMA

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BANKBOSTON, N.A.

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BANK OF MONTREAL

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            THE BANK OF NEW YORK

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            THE BANK OF NOVA SCOTIA

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BANK OF TOKYO - MITSUIBISHI TRUST
                                            COMPANY

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BAYERISCHE LANDESBANK
                                            GIROZENTRALE
                                            CAYMAN ISLANDS BRANCH

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            COMPAGNIE FINANCIERE DE CIC ET DE
                                            L'UNION EUROPEENNE
                                            (NEW YORK BRANCH)

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            COMPAGNIE FINANCIERE DE CIC ET DE
                                            L'UNION EUROPEENNE
                                            (PARIS HEAD OFFICE)

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            COMERICA BANK

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            COMMERZBANK AG
                                            NEW YORK AND GRAND CAYMAN BRANCHES

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            CREDIT AGRICOLE INDOSUEZ

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            CREDIT LYONNAIS, CHICAGO BRANCH

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            DAI ICHI KANGYO BANK LTD.

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            DG BANK DEUTSCHE
                                            GENOSSENSCHAFTSBANK AG

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            DRESDNER BANK AG NEW YORK AND
                                            GRAND CAYMAN BRANCHES

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BANK ONE, NA (ILLINOIS)

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            FIRST UNION NATIONAL BANK

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            FORTIS (USA) FINANCE LLC

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            BAYERISCHE HYPO- UND VEREINSBANK AG

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            THE INDUSTRIAL BANK OF JAPAN,
                                            LIMITED, NEW YORK BRANCH

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            KBC BANK N.B.

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            KEYBANK NATIONAL ASSOCIATION

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            HSBC BANK USA

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            HSBC BANK PLC

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            NATIONAL WESTMINSTER BANK PLC
                                            NEW YORK BRANCH

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            NATIONAL WESTMINSTER BANK PLC
                                            NASSAU BRANCH

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            THE NORTHERN TRUST COMPANY

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            SANPAOLO IMI

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            THE SANWA BANK, LTD
                                            NEW YORK BRANCH

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            SOCIETE GENERALE

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            TORONTO DOMINION (TEXAS), INC.

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

                                            WESTPAC BANKING CORPORATION

                                            By:
                                               ---------------------
                                            Name:
                                            Title:

<PAGE>   45

                                 $1,500,000,000

                              AMENDED AND RESTATED
                COMPETITIVE ADVANCE AND REVOLVING CREDIT FACILITY

                                      among

                     DELPHI AUTOMOTIVE SYSTEMS CORPORATION,

                               The Several Lenders
                        from Time to Time Parties Hereto

             BANK OF AMERICA, NATIONAL ASSOCIATION, CITIBANK, N.A.,
                        DEUTSCHE BANK AG NEW YORK BRANCH,
                BARCLAYS BANK PLC and BANQUE NATIONALE DE PARIS,
                              as Syndication Agents

                                       and

                            THE CHASE MANHATTAN BANK,
                             as Administrative Agent

                           Dated as of January 3, 2000

                     ---------------------------------------

                             CHASE SECURITIES INC.,
                        as Lead Arranger and Book Manager

<PAGE>   46

         Page
         ----
                                TABLE OF CONTENTS
                                -----------------

         Page
         ----

SECTION 1.  DEFINITIONS                                                      1
         1.1  Defined Terms                                                  1
         1.2  Other Definitional Provisions                                 12

SECTION 2.  AMOUNT AND TERMS OF THE FACILITIES                              13
         2.1  Revolving Credit Commitments                                  13
         2.2  Procedure for Revolving Credit Borrowing                      13
         2.3  Competitive Borrowings                                        14
         2.4  Termination or Reduction of Commitments                       17
         2.5  Prepayments                                                   17
         2.6  Conversion and Continuation Options                           17
         2.7  Minimum Amounts of Eurodollar Borrowings                      18
         2.8  Repayment of Loans; Evidence of Debt                          18
         2.9  Interest Rates and Payment Dates                              19
         2.10  Facility Fee                                                 20
         2.11  Computation of Interest and Fees                             20
         2.12  Inability to Determine Interest Rate                         21
         2.13  Pro Rata Treatment and Payments                              21
         2.14  Illegality                                                   22
         2.15  Increased Costs                                              23
         2.16  Taxes                                                        24
         2.17  Indemnity                                                    25
         2.18  Notice of Amounts Payable; Relocation of Lending Office;     26
               Mandatory Assignment

SECTION 3.  REPRESENTATIONS AND WARRANTIES                                  27
         3.1  Financial Condition                                           27
         3.2  Corporate Existence; Compliance with Law                      27
         3.3  Corporate Power; Authorization; Enforceable Obligations       27
         3.4  No Legal Bar; No Default                                      28
         3.5  No Material Litigation                                        28
         3.6  Federal Regulations                                           28
         3.7  Investment Company Act                                        28
         3.8  ERISA                                                         28
         3.9  No Material Misstatements                                     28
         3.10  Environmental Matters                                        29
         3.11  Subsidiaries                                                 29
         3.12  Year 2000 Matters                                            29
         3.13  Purpose of Loans                                             29

SECTION 4.  CONDITIONS PRECEDENT                                            29
         4.1  Conditions to Initial Loans                                   29
         4.2  Conditions to Each Loan                                       30

SECTION 5.  AFFIRMATIVE COVENANTS                                           31
         5.1  Financial Statements                                          31
         5.2  Certificates; Other Information                               31

<PAGE>   47

         Page
         ----

         5.3  Notices                                                  32
         5.4  Conduct of Business and Maintenance of Existence         33
         5.5  Books and Records                                        33
         5.6  Environmental Laws                                       33

SECTION 6.  NEGATIVE COVENANTS                                         33
         6.1  Consolidated Leverage Ratio                              33
         6.2  Indebtedness                                             33
         6.3  Liens                                                    34
         6.4  Sale-Leasebacks                                          34
         6.5  Merger, Consolidation, etc.                              34

SECTION 7.  EVENTS OF DEFAULT                                          34

SECTION 8.  THE ADMINISTRATIVE AGENT                                   37
         8.1  Appointment                                              37
         8.2  Delegation of Duties                                     37
         8.3  Exculpatory Provisions                                   37
         8.4  Reliance by Administrative Agent                         37
         8.5  Notice of Default                                        38
         8.6  Non-Reliance on Administrative Agent and Other Lenders   38
         8.7  Indemnification                                          39
         8.8  Administrative Agent in Its Individual Capacity          39
         8.9  Successor Administrative Agent                           39
         8.10  Syndication Agents and Documentation Agent              40

SECTION 9.  MISCELLANEOUS                                              40
         9.1  Amendments and Waivers                                   40
         9.2  Notices                                                  41
         9.3  No Waiver; Cumulative Remedies                           41
         9.4  Survival of Representations and Warranties               42
         9.5  Payment of Expenses and Taxes                            42
         9.6  Successors and Assigns; Participations and Assignments   42
         9.7  Adjustments                                              45
         9.8  Counterparts                                             45
         9.9  Severability                                             46
         9.10  GOVERNING LAW                                           46
         9.11  Confidentiality                                         46

<PAGE>   48

         Page
         ----

SCHEDULES

I        Commitments; Competitive Bid Lenders
II       Addresses for Notices
III      Material Agreements
3.11     Subsidiaries

EXHIBITS

         Competitive Bid Request
         Invitation for Competitive Bids
         Competitive Bid
         Competitive Bid Accept/Reject Letter
         Assignment and Acceptance
-1       Opinion of Drinker Biddle & Reath LLP, counsel for the Borrower
F-2      Opinion of Simpson Thacher & Bartlett
         Promissory Note

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