Document:

EXHIBIT 10.18

                        GUARANTY AND SURETYSHIP AGREEMENT

     THIS GUARANTY AND SURETYSHIP  AGREEMENT (this  "Guaranty"),  made this 21st
day of January,  2000, by Medical  Technology,  Inc., an Iowa  corporation  (the
"Guarantor"),  in favor of International  Investment Partners,  Ltd., a Delaware
corporation (the "Lender"), recites and provides as follows:

                                    RECITALS:

     A. By Note of even date herewith made by Medical  Technology & Innovations,
Inc., a Florida  corporation (the  "Borrower"),  and payable to the order of the
Lender (as the same may be amended,  modified or supplemented from time to time,
the "Note"),  the Lender has agreed to make a Loan of $1,000,000 to the Borrower
(capitalized terms which are not defined herein shall have the meanings assigned
to them in the Note and the other Loan Documents).

     B. The Guarantor has received and reviewed copies of the Note and the other
Loan Documents.

     C. The  execution  and  delivery  by the  Guarantor  of this  Guaranty is a
condition to the Lender's  obligation  to make the Loan to Borrower  pursuant to
the Note.

     D. The Guarantor expects to derive financial benefit from the making of the
Loan by the Lender to the Borrower.

GUARANTY AND SURETYSHIP:

     NOW,  THEREFORE,  in  consideration  of $10.00 and other good and  valuable
consideration,  the receipt and  sufficiency of which is hereby  acknowledged by
the Guarantor, and intending to be legally bound, the Guarantor hereby agrees as
follows:

1.   The Guaranty.

          (a) Guaranteed  Obligations.  The Guarantor hereby unconditionally and
     irrevocably  guarantees to the Lender and becomes  surety to the Lender for
     the due,  punctual and full payment and  performance of, and covenants with
     the Lender to duly,  punctually  and fully pay and perform,  the  following
     (collectively, the "Guaranteed Obligations"):

               (1) All  indebtedness of the Borrower to the Lender  evidenced by
          the Note, both principal and interest, and all other amounts due or to
          become  due  under  the Note and the  other  Loan  Documents,  and any
          refinancing  or refunding  thereof,  whether now existing or hereafter
          arising, contracted or incurred; and

<PAGE>

               (2) All covenants, agreements, obligations and liabilities of the
          Borrower  under the Note and the other  Loan  Documents,  whether  now
          existing or hereafter  arising,  contracted  or incurred,  as and when
          such payment or performance  shall become due (whether by acceleration
          or otherwise) in accordance with the terms of the Loan Documents.

     (b) Unconditional  Guaranty. The obligations of the Guarantor hereunder are
continuing,  absolute  and  unconditional,   irrespective  of  any  circumstance
whatsoever  which might otherwise  constitute a legal or equitable  discharge or
defense of a  guarantor  or  surety.  Without  limiting  the  generality  of the
foregoing, the obligations of the Guarantor hereunder shall remain in full force
and effect  without  regard to, and shall not be released,  discharged or in any
way affected by:

          (1) Any amendment, modification or supplement to the Note or any other
     Loan Docu ment;

          (2) Any exercise or  nonexercise  of or delay in exercising any right,
     remedy,  power or privilege under or in respect of this Guaranty,  the Note
     or any  other  Loan  Document  (even if any such  right,  remedy,  power or
     privilege  shall be lost thereby),  or any waiver,  consent,  indulgence or
     other action or inaction in respect thereof;

          (3) Any bankruptcy, insolvency,  arrangement,  composition, assignment
     for the benefit of creditors or similar proceeding  commenced by or against
     the Borrower;

          (4) Any failure to perfect or continue  perfection  of, or any release
     or waiver of, any rights  given to the Lender in any  property  as security
     for the performance of any of the Guaranteed Obligations;

          (5) Any  extension  of time for payment or  performance  of any of the
     Guaranteed Obligations;

          (6) The genuineness, validity or enforceability of the Loan Documents;

          (7) Any limitation of liability of the Borrower or any other Guarantor
     contained in any Loan Document;

          (8) Any defense  that may arise by reason of the failure of the Lender
     to file or  enforce  a claim  against  the  estate of the  Borrower  in any
     bankruptcy or other proceeding;

          (9) Any voluntary or involuntary liquidation, dissolution, sale of all
     or substantially all of the property of the Borrower, or any marshalling of
     assets and liabilities, or other similar proceeding affecting,  Borrower or
     any of its assets;

          (10)  The  release  of  the  Borrower  or  any  other  Guarantor  from
     performance  or observance of any of the  agreements,  covenants,  terms or
     conditions contained in the Loan Documents by operation of law; or

          (11) The  failure  of the  Lender  to keep the  Guarantor  advised  of
     Borrower's financial condition,  regardless of the existence of any duty to
     do so.

<PAGE>

     No set-off,  claim,  reduction  or  diminution  of any  obligation,  or any
     defense of any kind or nature which the Borrower or the  Guarantor  now has
     or hereafter may have against the Lender,  shall be available  hereunder to
     the Guarantor against the Lender.

     (c) No Notice or Duty to Exhaust  Remedies.  The  Guarantor  hereby  waives
diligence,  presentment,  demand, protest, the benefits of the homestead and all
other  exemptions  provided to the  Guarantor  and all notices of any kind,  and
waives any requirement  that the Lender exhaust any right or remedy,  or proceed
first or at any time,  against the  Borrower or any other  guarantor  of, or any
security for, any of the Guaranteed  Obligations.  This Guaranty  constitutes an
agreement of  suretyship  as well as of guaranty,  and the Lender may pursue its
rights and remedies  under this  Guaranty and under the other Loan  Documents in
whatever  order,  or  collectively,   and  shall  be  entitled  to  payment  and
performance   hereunder  not   withstanding   such  other  Loan   Documents  and
notwithstanding  any  action  taken by the Lender or  inaction  by the Lender to
enforce any of its rights or remedies  against any other  guarantor or any other
person or property whatsoever.

     (d) WAIVER OF SUBROGATION. GUARANTOR HEREBY WAIVES AND RELEASES ANY AND ALL
RIGHTS OF  SUBROGATION  AND WAIVES ANY RIGHT TO ENFORCE ANY REMEDY  WHICH LENDER
NOW HAS OR MAY HEREAFTER HAVE AGAINST  BORROWER AND ANY BENEFIT OF, ANY RIGHT TO
PARTICIPATE IN, ANY SECURITY NOW OR HEREAFTER HELD BY LENDER.

           No Waivers  Generally.  The Lender shall not be deemed to have waived
any of its rights or  remedies  hereunder  unless  such waiver is express and in
writing.  No delay or  failure  by the  Lender on any one or more  occasions  to
exercise  its  rights  hereunder  or at law  or in  equity  (including,  without
limitation,  the right of acceleration) shall be construed as a novation of this
Guaranty or shall waive or prevent the  subsequent  exercise of such rights.  An
express  waiver of any right shall not be  construed as a waiver of the Lender's
right to insist  thereafter  upon strict  compliance  with the terms hereof.  No
exercise of any right by the Lender shall  constitute or be deemed to constitute
an election of remedies by the Lender precluding the subsequent  exercise by the
Lender  of any  or  all of the  rights,  powers  and  remedies  available  to it
hereunder  or at law or in  equity.  No  course  of  dealing  of the  Lender  in
exercising any right, power or privilege under this Guaranty,  the Note or under
any other Loan Docu ment shall affect any other exercise  thereof or exercise of
any other right, power or privilege.

2.   Representations and Warranties.

          (a)  Contained  in  the  Loan  Documents.  The  Guarantor  represents,
     warrants  and  certifies  to  the  Lender  that  the   representations  and
     warranties  made by the Borrower with respect to such  Guarantor  under the
     Note and the other Loan Documents are true and correct on the date hereof.

          (b) Corporate Existence.  The Guarantor is a corporation duly created,
     validly existing and in good standing under the laws of the State of Iowa.

          (c)  Power,  Authority  and  Binding  Effect.  The  Guarantor  has the
     corporate  power to execute  and  deliver  this  Guaranty  and the  persons
     executing  this  Guaranty  on  behalf  of  the  Guarantor  have  been  duly
     authorized so to do. This Guaranty constitutes the valid, legal and binding
     obligations of the Guarantor, enforceable in accordance with its terms.

3.   Covenants. The Guarantor hereby covenants to the Lender that:

<PAGE>

          (a) Promptly upon becoming aware thereof, the Guarantor shall give the
     Lender  notice  of  (i)  the  commencement,  existence  or  threat  of  any
     proceeding  by or before any  Governmental  Authority  against or affecting
     Guarantor which, if adversely decided, would have a material adverse effect
     on  the  business,  operations,   condition  (financial  or  otherwise)  or
     prospects  of  the  Guarantor  or on its  ability  to  perform  obligations
     hereunder or (ii) any material adverse change in the business,  operations,
     condition (financial or otherwise) or prospects of the Guarantor.

          (b)  The  Guarantor  shall  permit  such  persons  as the  Lender  may
     designate  to  examine  Guarantor's  books  and  records  relating  to  the
     Guarantor's  financial condition and take copies and extracts therefrom and
     to discuss  the  affairs of  Guarantor  with its  officers,  employees  and
     independent  accountants  at such  times  and as  often as the  Lender  may
     reasonably   request.   The  Guarantor  hereby  authorizes  such  officers,
     employees  and  independent  accountants  to  discuss  with the  Lender the
     affairs of the Guarantor.

          (c) The Guarantor  shall not dissolve,  merge or consolidate  with any
     other person or entity or sell,  transfer or otherwise  dispose of all or a
     substantial  part of its  assets,  and  shall  continue  to  engage  in its
     business  substantially  as currently  conducted and operated and shall not
     engage in any other business.

          (d) There shall be no change in the  ownership of the  Guarantor  from
     the date hereof.

4.   Effect of  Bankruptcy  Proceedings.  This  Guaranty  shall  continue  to be
     effective,  or be automatically  reinstated,  as the case may be, if at any
     time payment, in whole or in part, of any of the Guaranteed  Obligations is
     rescinded  or must  otherwise  be  restored  or returned by the Lender as a
     preference,  fraudulent  conveyance  or  otherwise  under  any  bankruptcy,
     insolvency or similar law, all as though such payment had not been made. If
     a default or an Event of Default  at any time  shall have  occurred  and be
     continuing and declaration of default or acceleration under or with respect
     to any of the Loan  Documents  shall at such time be prevented by reason of
     the  pendency  against  the  Borrower  of a case or  proceeding  under  any
     bankruptcy or insolvency  law, the Guarantor  agrees that,  for purposes of
     this  Guaranty  and  the  Guarantor's  obligations  hereunder,   such  Loan
     Documents  shall be deemed to have been declared in default or  accelerated
     with the same effect as if such Loan Documents had been declared in default
     and  accelerated in accordance  with the terms  thereof,  and the Guarantor
     shall  forthwith pay the  Guaranteed  Obligations  in full without  further
     notice or demand.

5.   Further  Assurances.  From time to time upon the request of the Lender, the
     Guarantor shall promptly and duly execute,  acknowledge and deliver any and
     all such further instruments and documents as the Lender may deem necessary
     or desirable to confirm this Guaranty,  to carry out the purpose and intent
     hereof or to enable the Lender to enforce any of its rights hereunder.

6.   Notices.   All   notices,   requests,   demands,   directions   and   other
     communications  (collectively,  "notices")  under  the  provisions  of this
     Guaranty  shall be in  writing  and  shall be sent (i) by  first-  class or
     first-class express mail, certified with return receipt requested,  or (ii)
     by fax  with  confirmation  in  writing  mailed  first-class,  or  (iii) by
     guaranteed  overnight  delivery service with receipt  therefor,  or (iv) by
     hand, in all cases with charges prepaid, and any such properly given notice
     shall be  effective  when  received or when such  delivery is refused.  All
     notices shall be sent,

<PAGE>

 If to the Lender:            International Investment Partners, Ltd.
                              80 Abbeyville Road
                              Lancaster, Pennsylvania 17603
                              Att'n: Brian Auchey
                              FAX: (717) 892-6788

 If to the Guarantor:        Medical Technology, Inc.
                             3725 Investment Lane
                             Riviera Beach, Florida 33404
                             Att'n: _________________________________
                              FAX: (___) ___-____

     or in accordance with the last unrevoked  written direction from such party
     to the other  party  hereto.  The Lender may rely on any notice  (including
     telephoned  communication)   purportedly  made  by  or  on  behalf  of  the
     Guarantor,  and shall have no duty to verify the  identity or  authority of
     the person giving such notice.

7.   Miscellaneous.

          (a)  Amendments.   This  Guaranty  cannot  be  amended,   modified  or
     terminated except by an instrument in writing signed by both parties.

          (b) Expenses;  Taxes;  Attorneys' Fees. The Guarantor agrees to pay or
     cause to be paid and to save the Lender harmless against  liability for the
     payment of all reasonable out-of-pocket expenses, including reasonable fees
     and expenses of counsel for the Lender, incurred by the Lender from time to
     time,  (i) in  connection  with the  preparation,  execution,  delivery and
     performance of this Guaranty or any other Loan  Document,  (ii) relating to
     any requested amendments, waivers or consents to this Guaranty or any other
     Loan  Document and (iii) in  connection  with the Lender's  enforcement  or
     preservation of rights under this Guaranty or any other Loan Document, (iv)
     in defense of any claim relating to or affecting any Loan Document, (v) the
     perfection of any liens on or security  interests in any collateral for the
     Note or this Guaranty,  and (vi) the preservation,  care and custody of any
     collateral  for the Note or this  Guaranty and the  collection of insurance
     proceeds or condemnation  awards related  thereto.  The Guarantor agrees to
     pay all stamp,  document,  transfer,  recording or filing taxes or fees and
     similar impositions now or hereafter determined by the Lender to be payable
     in  connection  with this  Guaranty  or any other Loan  Documents,  and the
     Guarantor hereby indemnifies and saves the Lender harmless from and against
     any and all present or future claims, liabilities or losses with respect to
     or  resulting  from any  omission to pay or delay in paying any such taxes,
     fees or  impositions.  All  amounts  payable  by the  Guarantor  under this
     paragraph  shall be paid  within  five (5) days after  demand by the Lender
     with  interest,  until paid, at the Default Rate, if any,  specified in the
     Note or, otherwise, at the rate of interest provided in the Note.

          (c)  Severability.  If any term or provision  of this  Guaranty or the
     application  thereof to any person or  circumstance  shall to any extent be
     invalid  or  unenforceable,   the  remainder  of  this  Guaranty,   or  the
     application  of such term or  provision to persons or  circumstances  other
     than  those  as to which  it is  invalid  or  unenforceable,  shall  not be
     affected  thereby,  and each term and provision of this  Guaranty  shall be
     valid and enforceable to the fullest extent permitted by law.

          (d) Governing  Law. This Guaranty  shall be governed by, and construed
     in accordance with, the laws of the Commonwealth of Pennsylvania.

          (e) Time of Essence;  Duration;  Survival. Time is of the essence with
     respect to all of the  Guarantor's  obligations  under this  Guaranty.  All
     representations  and warranties of the Guarantor contained herein or in any
     other Loan  Document  or made in  connection  herewith or  therewith  shall

<PAGE>

     survive the making,  execution  and delivery of this  Guaranty or the other
     Loan Documents,  any  investigation by the Lender or the making of any loan
     advance  under the Loan  Documents.  All  covenants  and  agreements of the
     Guarantor  contained herein or in any other Loan Document shall continue in
     full force and effect from and after the date hereof until  payment in full
     of all the Guaranteed Obligations.

          (f) WAIVER OF JURY TRIAL.  THE GUARANTOR  HEREBY  KNOWINGLY WAIVES ITS
     RIGHT TO TRIAL BY JURY IN ANY ACTION  BROUGHT BY OR AGAINST  THE  GUARANTOR
     RELATED  TO OR  ARISING  OUT OF  THIS  GUARANTY  OR ANY OF THE  OTHER  LOAN
     DOCUMENTS.

          (g) Successors and Assigns. This Guaranty shall apply to, inure to the
     benefit  of and  bind  each of the  parties  hereto  and  their  respective
     successors and assigns.

     IN WITNESS  WHEREOF,  the Guarantor has caused this Guaranty to be executed
by its duly authorized representative.

          ATTEST:                      MEDICAL TECHNOLOGY & INNOVATIONS, INC.

By /s/ Annalisa B.  Pegg               By /s/ Joseph R.  DelVecchio

------------------------               -----------------------------------------
Name:      Annalisa B.  Pegg           Name: Joseph R.  DelVecchio
Title:     Office Manager              Title: Ex V.P. / COOEXECUTION COPY

                                U.S. $100,000,000

                                CREDIT AGREEMENT

                           Dated as of April 20, 2000

                                      Among

                          THE PERKIN-ELMER CORPORATION
                                   as Borrower

                                 PE CORPORATION

                                  as Guarantor

                        THE INITIAL LENDERS NAMED HEREIN

                               as Initial Lenders

                            SALOMON SMITH BARNEY INC.

                                as Sole Arranger

                               WACHOVIA BANK, N.A.

                              as Syndication Agent

                            THE CHASE MANHATTAN BANK

                             as Documentation Agent

                                       and

                                 CITIBANK, N.A.

                             as Administrative Agent

<PAGE>

                                TABLE OF CONTENTS

                                    ARTICLE I

                        DEFINITIONS AND ACCOUNTING TERMS
<TABLE>
<S>      <C>                                                                                                     <C>
         SECTION 1.01.  Certain Defined Terms                                                                     1
                        ---------------------
         SECTION 1.02.  Computation of Time Periods                                                              12
                        ---------------------------
         SECTION 1.03.  Accounting Terms                                                                         12
                        ----------------

                                   ARTICLE II

                        AMOUNTS AND TERMS OF THE ADVANCES

         SECTION 2.01.  The Revolving Credit Advances                                                            12
                        -----------------------------
         SECTION 2.02.  Making the Revolving Credit Advances                                                     12
                        ------------------------------------
         SECTION 2.03.  The Competitive Bid Advances                                                             13
                        ----------------------------
         SECTION 2.04.  Fees                                                                                     16
                        ----
         SECTION 2.05.  Optional Termination or Reduction of the Commitments                                     16
                        ----------------------------------------------------
         SECTION 2.06.  Repayment of Revolving Credit Advances                                                   16
                        --------------------------------------
         SECTION 2.07.  Interest on Revolving Credit Advances                                                    17
                        -------------------------------------
         SECTION 2.08.  Interest Rate Determination                                                              17
                        ---------------------------
         SECTION 2.09.  Optional Conversion of Revolving Credit Advances                                         18
                        ------------------------------------------------
         SECTION 2.10.  Prepayments of Revolving Credit Advances                                                 18
                        ----------------------------------------
         SECTION 2.11.  Increased Costs                                                                          19
                        ---------------
         SECTION 2.12.  Illegality                                                                               19
                        ----------
         SECTION 2.13.  Payments and Computations                                                                19
                        -------------------------
         SECTION 2.14.  Taxes                                                                                    20
                        -----
         SECTION 2.15.  Sharing of Payments, Etc.                                                                22
                        ------------------------
         SECTION 2.16.  Evidence of Debt                                                                         22
                        ----------------
         SECTION 2.17.  Use of Proceeds                                                                          23
                        ---------------
         SECTION 2.18.  Increase in the Aggregate Commitments                                                    23
                        -------------------------------------
         SECTION 2.19.  Extension of Termination Date                                                            24
                        -----------------------------

                                   ARTICLE III

                     CONDITIONS TO EFFECTIVENESS AND LENDING

         SECTION 3.01.  Conditions Precedent to Effectiveness of Sections 2.01 and 2.03                          26
                        ---------------------------------------------------------------
         SECTION 3.03.  Conditions Precedent to Each Competitive Bid Borrowing                                   27
                        ------------------------------------------------------
         SECTION 3.04.  Determinations Under Section 3.01                                                        28
                        ---------------------------------

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

         SECTION 4.01.  Representations and Warranties of the Borrower and the Guarantor                         28

                                    ARTICLE V

                           COVENANTS OF THE GUARANTOR

         SECTION 5.01.  Affirmative Covenants                                                                    30
                        ---------------------
         SECTION 5.02.  Negative Covenants                                                                       31
                        ------------------

<PAGE>

                                       ii

                                                                                                                Page

         SECTION 5.03.  Financial Covenants                                                                      32
                        -------------------

                                   ARTICLE VI

                                EVENTS OF DEFAULT

         SECTION 6.01.  Events of Default                                                                        33
                        -----------------

                                   ARTICLE VII

                                    GUARANTY

         7.01.  Guaranty                                                                                         35
                --------
         7.02.  Guaranty Absolute                                                                                35
                -----------------
         7.03.  Waivers and Acknowledgments                                                                      36
                ---------------------------
         7.04.  Subrogation                                                                                      36
                -----------
         7.05.  Continuing Guaranty; Assignments                                                                 37
                --------------------------------

                                  ARTICLE VIII

                                    THE AGENT

         SECTION 8.01.  Authorization and Action                                                                 37
                        ------------------------
         SECTION 8.02.  Agent's Reliance, Etc.                                                                   37
                        ---------------------
         SECTION 8.03.  Citibank and Affiliates                                                                  38
                        -----------------------
         SECTION 8.04.  Lender Credit Decision                                                                   38
                        ----------------------
         SECTION 8.05.  Indemnification                                                                          38
                        ---------------
         SECTION 8.06.  Successor Agent                                                                          38
                        ---------------
         SECTION 8.07.  Other Agents.                                                                            39
                        -------------

                                   ARTICLE IX

                                  MISCELLAEOUS

         SECTION 9.01.  Amendments, Etc.                                                                         39
                        ---------------
         SECTION 9.02.  Notices, Etc.                                                                            39
                        ------------
         SECTION 9.03.  No Waiver; Remedies                                                                      40
                        -------------------
         SECTION 9.04.  Costs and Expenses                                                                       40
                        ------------------
         SECTION 9.05.  Right of Set-off                                                                         41
                        ----------------
         SECTION 9.06.  Binding Effect                                                                           41
                        --------------
         SECTION 9.07.  Assignments and Participations                                                           41
                        ------------------------------
         SECTION 9.08.  Confidentiality                                                                          43
                        ---------------
         SECTION 9.09.  Governing Law                                                                            43
                        -------------
         SECTION 9.10.  Execution in Counterparts                                                                43
                        -------------------------
         SECTION 9.11.  Jurisdiction, Etc.                                                                       43
                        -----------------

Schedules

Schedule I - List of Applicable Lending Offices
</TABLE>

<PAGE>

                                       iii

<TABLE>
<S>                <C>     <C>
Schedule 3.01(b) - Disclosed Litigation

Schedule 5.02(a) - Existing Liens

Exhibits

Exhibit A-1        -       Form of Revolving Credit Note

Exhibit A-2        -       Form of Competitive Bid Note

Exhibit B-1        -       Form of Notice of Revolving Credit Borrowing

Exhibit B-2        -       Form of Notice of Competitive Bid Borrowing

Exhibit C          -       Form of Assignment and Acceptance

Exhibit D          -       Form of Opinion of Counsel for the Borrower and the Guarantor
</TABLE>

<PAGE>

                                CREDIT AGREEMENT

                           Dated as of April 20, 2000

                  THE PERKIN-ELMER CORPORATION, a New York corporation (the
"Borrower"), PE CORPORATION, a Delaware corporation the ("Guarantor"), the
banks, financial institutions and other institutional lenders (the "Initial
Lenders") listed on the signature pages hereof, SALOMON SMITH BARNEY INC., as
sole arranger, WACHOVIA BANK, N.A., as syndication agent, THE CHASE MANHATTAN
BANK, as documentation agent, and CITIBANK, N.A. ("Citibank"), as administrative
agent (the "Agent") for the Lenders (as hereinafter defined), agree as follows:

                                    ARTICLE I

                        DEFINITIONS AND ACCOUNTING TERMS

                  SECTION 1.01. Certain Defined Terms. As used in this
Agreement, the following terms shall have the following meanings (such meanings
to be equally applicable to both the singular and plural forms of the terms
defined):

                  "Advance" means a Revolving Credit Advance or a Competitive
         Bid Advance.

                  "Affiliate" means, as to any Person, any other Person that,
         directly or indirectly, controls, is controlled by or is under common
         control with such Person or is a director or officer of such Person.
         For purposes of this definition, the term "control" (including the
         terms "controlling", "controlled by" and "under common control with")
         of a Person means the possession, direct or indirect, of the power to
         vote 20% or more of the Voting Stock of such Person or to direct or
         cause the direction of the management and policies of such Person,
         whether through the ownership of Voting Stock, by contract or
         otherwise.

                  "Agent's Account" means the account of the Agent maintained by
         the Agent at Citibank at its office at 399 Park Avenue, New York, New
         York 10043, Account No. 36852248, Attention: Brian Maxwell.

                  "Applicable Lending Office" means, with respect to each
         Lender, such Lender's Domestic Lending Office in the case of a Base
         Rate Advance and such Lender's Eurodollar Lending Office in the case of
         a Eurodollar Rate Advance and, in the case of a Competitive Bid
         Advance, the office of such Lender notified by such Lender to the Agent
         as its Applicable Lending Office with respect to such Competitive Bid
         Advance.

                  "Applicable Margin" means as of any date, a percentage per
         annum determined by reference to the Pricing Level in effect on such
         date as set forth below:

<PAGE>
                                       2

<TABLE>
<CAPTION>
                  -----------------------------------------------------------------------------------------
                        Pricing Level            Applicable Margin for          Applicable Margin for
                                                  Base Rate Advances          Eurodollar Rate Advances
                  -----------------------------------------------------------------------------------------
                  <S>                                    <C>                          <C>
                  Level 1                                0.00%                         0.185%
                  -----------------------------------------------------------------------------------------
                  Level 2                                0.00%                         0.270%
                  -----------------------------------------------------------------------------------------
                  Level 3                                0.00%                         0.350%
                  -----------------------------------------------------------------------------------------
                  Level 4                                0.00%                         0.500%
                  -----------------------------------------------------------------------------------------
                  Level 5                                0.00%                         0.675%
                  -----------------------------------------------------------------------------------------
</TABLE>

                  "Applicable Percentage" means, as of any date a percentage per
         annum determined by reference to the Pricing Level in effect on such
         date as set forth below:
<TABLE>
<CAPTION>
                           --------------------------------------------------------------
                                    Pricing Level              Applicable Percentage
                           <S>                                         <C>
                           --------------------------------------------------------------
                           Level 1                                     0.065%
                           --------------------------------------------------------------
                           Level 2                                     0.080%
                           --------------------------------------------------------------
                           Level 3                                     0.100%
                           --------------------------------------------------------------
                           Level 4                                     0.125%
                           --------------------------------------------------------------
                           Level 5                                     0.175%
                           --------------------------------------------------------------
</TABLE>

                  "Applicable Utilization Fee" means, as of any date on which
         the aggregate outstanding Advances exceed 33% of the aggregate
         Commitments, a percentage per annum determined by reference to the
         Pricing Level in effect on such date as set forth below:
<TABLE>
<CAPTION>
                           --------------------------------------------------------------
                                    Pricing Level            Applicable Utilization Fee
                           --------------------------------------------------------------
                           <S>                                         <C>
                           Level 1                                     0.050%
                           --------------------------------------------------------------
                           Level 2                                     0.075%
                           --------------------------------------------------------------
                           Level 3                                     0.100%
                           --------------------------------------------------------------
                           Level 4                                     0.125%
                           --------------------------------------------------------------
                           Level 5                                     0.150%
                           --------------------------------------------------------------
</TABLE>

                  "Assignment and Acceptance" means an assignment and acceptance
         entered into by a Lender and an Eligible Assignee, and accepted by the
         Agent, in substantially the form of Exhibit C hereto.

                  "Assuming Lender" has the meaning specified in Section
         2.18(d).

<PAGE>
                                       3

                  "Assumption Agreement" has the meaning specified in Section
         2.18(d)(ii).

                  "Base Rate" means a fluctuating interest rate per annum in
         effect from time to time, which rate per annum shall at all times be
         equal to the highest of:

                           (a) the rate of interest announced publicly by
                  Citibank in New York, New York, from time to time, as
                  Citibank's base rate;

                           (b) the sum (adjusted to the nearest 1/16 of 1% or,
                  if there is no nearest 1/16 of 1%, to the next higher 1/16 of
                  1%) of (i) 1/2 of 1% per annum, plus (ii) the rate obtained by
                  dividing (A) the latest three-week moving average of secondary
                  market morning offering rates in the United States for
                  three-month certificates of deposit of major United States
                  money market banks, such three-week moving average (adjusted
                  to the basis of a year of 360 days) being determined weekly on
                  each Monday (or, if such day is not a Business Day, on the
                  next succeeding Business Day) for the three-week period ending
                  on the previous Friday by Citibank on the basis of such rates
                  reported by certificate of deposit dealers to and published by
                  the Federal Reserve Bank of New York or, if such publication
                  shall be suspended or terminated, on the basis of quotations
                  for such rates received by Citibank from three New York
                  certificate of deposit dealers of recognized standing selected
                  by Citibank, by (B) a percentage equal to 100% minus the
                  average of the daily percentages specified during such
                  three-week period by the Board of Governors of the Federal
                  Reserve System (or any successor) for determining the maximum
                  reserve requirement (including, but not limited to, any
                  emergency, supplemental or other marginal reserve requirement)
                  for Citibank with respect to liabilities consisting of or
                  including (among other liabilities) three-month U.S. dollar
                  non-personal time deposits in the United States, plus (iii)
                  the average during such three-week period of the annual
                  assessment rates estimated by Citibank for determining the
                  then current annual assessment payable by Citibank to the
                  Federal Deposit Insurance Corporation (or any successor) for
                  insuring U.S. dollar deposits of Citibank in the United
                  States; and

                           (c) 1/2 of one percent per annum above the Federal
                  Funds Rate.

                  "Base Rate Advance" means a Revolving Credit Advance that
         bears interest as provided in Section 2.07(a)(i).

                  "Borrowing" means a Revolving Credit Borrowing or a
         Competitive Bid Borrowing.

                  "Business Day" means a day of the year on which banks are not
         required or authorized by law to close in New York City and, if the
         applicable Business Day relates to any Eurodollar Rate Advances or LIBO
         Rate Advances, on which dealings are carried on in the London interbank
         market.

                  "Commitment" means as to any Lender (a) the amount set forth
         opposite such Lender's name on the signature pages hereof, (b) if such
         Lender has become a Lender hereunder pursuant to an Assumption
         Agreement, the amount set forth in such Assumption Agreement or (c) if
         such Lender has entered into any Assignment and Acceptance, the amount
         set forth for such Lender in the Register maintained by the Agent
         pursuant to Section 9.07(d), as such amount may be reduced pursuant to
         Section 2.05 or increased pursuant to Section 2.18.

                  "Commitment Date" has the meaning specified in Section
         2.18(b).

                  "Commitment Increase" has the meaning specified in Section
         2.18(a).

<PAGE>
                                       4

                  "Competitive Bid Advance" means an advance by a Lender to the
         Borrower as part of a Competitive Bid Borrowing resulting from the
         competitive bidding procedure described in Section 2.03 and refers to a
         Fixed Rate Advance or a LIBO Rate Advance.

                  "Competitive Bid Borrowing" means a borrowing consisting of
         simultaneous Competitive Bid Advances from each of the Lenders whose
         offer to make one or more Competitive Bid Advances as part of such
         borrowing has been accepted under the competitive bidding procedure
         described in Section 2.03.

                  "Competitive Bid Note" means a promissory note of the Borrower
         payable to the order of any Lender, in substantially the form of
         Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such
         Lender resulting from a Competitive Bid Advance made by such Lender.

                  "Competitive Bid Reduction" has the meaning specified in
         Section 2.01.

                  "Confidential Information" means information that the Borrower
         or the Guarantor furnishes to the Agent or any Lender in a writing
         designated as confidential, but does not include any such information
         that is or becomes generally available to the public or that is or
         becomes available to the Agent or such Lender from a source other than
         the Borrower or the Guarantor.

                  "Consenting Lender" has the meaning specified in Section
         2.19(b).

                  "Consolidated" refers to the consolidation of accounts in
         accordance with GAAP.

                  "Convert", "Conversion" and "Converted" each refers to a
         conversion of Revolving Credit Advances of one Type into Revolving
         Credit Advances of the other Type pursuant to Section 2.08 or 2.09.

                  "Debt" of any Person means, without duplication, (a) all
         indebtedness of such Person for borrowed money, (b) all obligations of
         such Person for the deferred purchase price of property or services
         (other than trade payables not overdue by more than 90 days incurred in
         the ordinary course of such Person's business), (c) all obligations of
         such Person evidenced by notes, bonds, debentures or other similar
         instruments, (d) all obligations of such Person created or arising
         under any conditional sale or other title retention agreement with
         respect to property acquired by such Person (even though the rights and
         remedies of the seller or lender under such agreement in the event of
         default are limited to repossession or sale of such property), (e) all
         obligations of such Person as lessee under leases that have been or
         should be, in accordance with GAAP, recorded as capital leases, (f) all
         obligations, contingent or otherwise, of such Person in respect of
         acceptances, letters of credit or similar extensions of credit, (g) all
         obligations of such Person in respect of Hedge Agreements, (h) all Debt
         of others referred to in clauses (a) through (g) above or clause (i)
         below guaranteed directly or indirectly in any manner by such Person,
         or in effect guaranteed directly or indirectly by such Person through
         an agreement (1) to pay or purchase such Debt or to advance or supply
         funds for the payment or purchase of such Debt, (2) to purchase, sell
         or lease (as lessee or lessor) property, or to purchase or sell
         services, primarily for the purpose of enabling the debtor to make
         payment of such Debt or to assure the holder of such Debt against loss,
         (3) to supply funds to or in any other manner invest in the debtor
         (including any agreement to pay for property or services irrespective
         of whether such property is received or such services are rendered) or
         (4) otherwise to assure a creditor against loss, and (i) all Debt
         referred to in clauses (a) through (h) above secured by (or for which
         the holder of such Debt has an existing right, contingent or otherwise,
         to be secured by) any Lien on property (including, without limitation,
         accounts and contract rights) owned by such Person, even though such
         Person has not assumed or become liable for the payment of such Debt.

<PAGE>
                                       5

                  "Debt for Borrowed Money" of any Person means all Debt of such
         Person of the types described in clauses (a) through (e) of the
         definition of "Debt", to the extent reflected on a Consolidated balance
         sheet of such Person in accordance with GAAP.

                  "Debt Rating" means, as of any date, the Public Debt Rating in
         effect on such date or, if no Public Debt Rating is then in effect, the
         Implied Debt Rating in effect on such date.

                  "Debt/Total Capital Ratio" means, as of any date of
         determination, the ratio, expressed as a decimal fraction, of
         Consolidated Debt for Borrowed Money of the Guarantor and its
         Subsidiaries to the sum of Consolidated Debt for Borrowed Money of the
         Guarantor and its Subsidiaries plus Net Worth.

                  "Default" means any Event of Default or any event that would
         constitute an Event of Default but for the requirement that notice be
         given or time elapse or both.

                  "Disclosed Litigation" has the meaning specified in Section
         3.01(b).

                  "Domestic Lending Office" means, with respect to any Lender,
         the office of such Lender specified as its "Domestic Lending Office"
         opposite its name on Schedule I hereto or in the Assumption Agreement
         or the Assignment and Acceptance pursuant to which it became a Lender,
         or such other office of such Lender as such Lender may from time to
         time specify to the Borrower and the Agent.

                  "Effective Date" has the meaning specified in Section 3.01.

                  "Eligible Assignee" means (i) a Lender; (ii) an Affiliate of a
         Lender; and (iii) any other Person approved by the Agent and, unless an
         Event of Default has occurred and is continuing at the time any
         assignment is effected in accordance with Section 9.07, the Borrower,
         such approval not to be unreasonably withheld or delayed; provided,
         however, that neither the Borrower nor an Affiliate of the Borrower
         shall qualify as an Eligible Assignee.

                  "Environmental Action" means any action, suit, demand, demand
         letter, claim, notice of non-compliance or violation, notice of
         liability or potential liability, investigation, proceeding, consent
         order or consent agreement relating in any way to any Environmental
         Law, Environmental Permit or Hazardous Materials or arising from
         alleged injury or threat of injury to health, safety or the
         environment, including, without limitation, (a) by any governmental or
         regulatory authority for enforcement, cleanup, removal, response,
         remedial or other actions or damages and (b) by any governmental or
         regulatory authority or any third party for damages, contribution,
         indemnification, cost recovery, compensation or injunctive relief.

                  "Environmental Law" means any federal, state, local or foreign
         statute, law, ordinance, rule, regulation, code, order, judgment,
         decree or judicial or agency interpretation, policy or guidance
         relating to pollution or protection of the environment, health, safety
         or natural resources, including, without limitation, those relating to
         the use, handling, transportation, treatment, storage, disposal,
         release or discharge of Hazardous Materials.

                  "Environmental Permit" means any permit, approval,
         identification number, license or other authorization required under
         any Environmental Law.

                  "ERISA" means the Employee Retirement Income Security Act of
         1974, as amended from time to time, and the regulations promulgated and
         rulings issued thereunder.

<PAGE>
                                       6

                  "ERISA Affiliate" means any Person that for purposes of Title
         IV of ERISA is a member of the Guarantor's controlled group, or under
         common control with the Guarantor, within the meaning of Section 414 of
         the Internal Revenue Code.

                  "ERISA Event" means (a) (i) the occurrence of a reportable
         event, within the meaning of Section 4043 of ERISA, with respect to any
         Plan unless the 30-day notice requirement with respect to such event
         has been waived by the PBGC, or (ii) the requirements of subsection (1)
         of Section 4043(b) of ERISA (without regard to subsection (2) of such
         Section) are met with a contributing sponsor, as defined in Section
         4001(a)(13) of ERISA, of a Plan, and an event described in paragraph
         (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably
         expected to occur with respect to such Plan within the following 30
         days; (b) the application for a minimum funding waiver with respect to
         a Plan; (c) the provision by the administrator of any Plan of a notice
         of intent to terminate such Plan pursuant to Section 4041(a)(2) of
         ERISA (including any such notice with respect to a plan amendment
         referred to in Section 4041(e) of ERISA); (d) the cessation of
         operations at a facility of the Borrower, the Guarantor or any ERISA
         Affiliate in the circumstances described in Section 4062(e) of ERISA;
         (e) the withdrawal by the Borrower, the Guarantor or any ERISA
         Affiliate from a Multiple Employer Plan during a plan year for which it
         was a substantial employer, as defined in Section 4001(a)(2) of ERISA;
         (f) the conditions for the imposition of a lien under Section 302(f) of
         ERISA shall have been met with respect to any Plan; (g) the adoption of
         an amendment to a Plan requiring the provision of security to such Plan
         pursuant to Section 307 of ERISA; or (h) the institution by the PBGC of
         proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or
         the occurrence of any event or condition described in Section 4042 of
         ERISA that constitutes grounds for the termination of, or the
         appointment of a trustee to administer, a Plan.

                  "Eurocurrency Liabilities" has the meaning assigned to that
         term in Regulation D of the Board of Governors of the Federal Reserve
         System, as in effect from time to time.

                  "Eurodollar Lending Office" means, with respect to any Lender,
         the office of such Lender specified as its "Eurodollar Lending Office"
         opposite its name on Schedule I hereto or in the Assumption Agreement
         or the Assignment and Acceptance pursuant to which it became a Lender
         (or, if no such office is specified, its Domestic Lending Office), or
         such other office of such Lender as such Lender may from time to time
         specify to the Borrower and the Agent.

                  "Eurodollar Rate" means, for any Interest Period for each
         Eurodollar Rate Advance comprising part of the same Revolving Credit
         Borrowing, an interest rate per annum equal to the rate per annum
         obtained by dividing (a) the rate per annum (rounded upward to the
         nearest whole multiple of 1/100 of 1% per annum) appearing on Telerate
         Page 3750 (or any successor page) as the London interbank offered rate
         for deposits in U.S. dollars at approximately 11:00 A.M. (London time)
         two Business Days prior to the first day of such Interest Period for a
         term comparable to such Interest Period or, if for any reason such rate
         is not available, the average (rounded upward to the nearest whole
         multiple of 1/100 of 1% per annum, if such average is not such a
         multiple) of the rate per annum at which deposits in U.S. dollars are
         offered by the principal office of each of the Reference Banks in
         London, England to prime banks in the London interbank market at 11:00
         A.M. (London time) two Business Days before the first day of such
         Interest Period in an amount substantially equal to such Reference
         Bank's Eurodollar Rate Advance comprising part of such Revolving Credit
         Borrowing to be outstanding during such Interest Period and for a
         period equal to such Interest Period by (b) a percentage equal to 100%
         minus the Eurodollar Rate Reserve Percentage for such Interest Period.
         If the Telerate Page 3750 (or any successor page) is unavailable, the
         Eurodollar Rate for any Interest Period for each Eurodollar Rate
         Advance comprising part of the same Revolving Credit Borrowing shall be
         determined by the Agent on the basis of applicable rates furnished to
         and received by the Agent from the Reference Banks two Business Days
         before the first day of such Interest Period, subject, however, to the
         provisions of Section 2.08.

<PAGE>
                                       7

                  "Eurodollar Rate Advance" means a Revolving Credit Advance
         that bears interest as provided in Section 2.07(a)(ii).

                  "Eurodollar Rate Reserve Percentage" for any Interest Period
         for all Eurodollar Rate Advances or LIBO Rate Advances comprising part
         of the same Borrowing means the reserve percentage applicable two
         Business Days before the first day of such Interest Period under
         regulations issued from time to time by the Board of Governors of the
         Federal Reserve System (or any successor) for determining the maximum
         reserve requirement (including, without limitation, any emergency,
         supplemental or other marginal reserve requirement) for a member bank
         of the Federal Reserve System in New York City with respect to
         liabilities or assets consisting of or including Eurocurrency
         Liabilities (or with respect to any other category of liabilities that
         includes deposits by reference to which the interest rate on Eurodollar
         Rate Advances or LIBO Rate Advances is determined) having a term equal
         to such Interest Period.

                  "Events of Default" has the meaning specified in Section 6.01.

                  "Extension Date" has the meaning specified in Section 2.19(b).

                  "Federal Funds Rate" means, for any period, a fluctuating
         interest rate per annum equal for each day during such period to the
         weighted average of the rates on overnight Federal funds transactions
         with members of the Federal Reserve System arranged by Federal funds
         brokers, as published for such day (or, if such day is not a Business
         Day, for the next preceding Business Day) by the Federal Reserve Bank
         of New York, or, if such rate is not so published for any day that is a
         Business Day, the average of the quotations for such day on such
         transactions received by the Agent from three Federal funds brokers of
         recognized standing selected by it.

                  "Fixed Rate Advances" has the meaning specified in Section
         2.03(a)(i).

                  "GAAP" has the meaning specified in Section 1.03.

                  "Hazardous Materials" means (a) petroleum and petroleum
         products, byproducts or breakdown products, radioactive materials,
         asbestos-containing materials, polychlorinated biphenyls and radon gas
         and (b) any other chemicals, materials or substances designated,
         classified or regulated as hazardous or toxic or as a pollutant or
         contaminant under any Environmental Law.

                  "Hedge Agreements" means interest rate swap, cap or collar
         agreements, interest rate future or option contracts, currency swap
         agreements, currency future or option contracts and other similar
         agreements.

                  "Implied Debt Rating" means the rating assigned by S&P to the
         Guarantor's unsecured "implied senior debt" from time to time, as
         published by S&P on January 11, 2000 or any subsequent publication
         thereof in any medium by S&P (which rating on the date hereof is A-)
         or, if such rating is unavailable, the equivalent rating assigned by
         Moody's to the Guarantor's unsecured "implied senior debt", as notified
         in writing to the Guarantor by Moody's.

                  "Increase Date" has the meaning specified in Section 2.18(a).

                  "Increasing Lender" has the meaning specified in Section
         2.18(b).

                  "Information Memorandum" means the information memorandum
         dated March 13, 2000 used by the Agent in connection with the
         syndication of the Commitments.

<PAGE>
                                       8

                  "Interest Period" means, for each Eurodollar Rate Advance
         comprising part of the same Revolving Credit Borrowing and each LIBO
         Rate Advance comprising part of the same Competitive Bid Borrowing, the
         period commencing on the date of such Eurodollar Rate Advance or LIBO
         Rate Advance or the date of the Conversion of any Base Rate Advance
         into such Eurodollar Rate Advance and ending on the last day of the
         period selected by the Borrower pursuant to the provisions below and,
         thereafter, with respect to Eurodollar Rate Advances, each subsequent
         period commencing on the last day of the immediately preceding Interest
         Period and ending on the last day of the period selected by the
         Borrower pursuant to the provisions below. The duration of each such
         Interest Period shall be one, two, three or six months or nine or
         twelve months if available by all Lenders, as the Borrower may, upon
         notice received by the Agent not later than 11:00 A.M. (New York City
         time) on the third Business Day prior to the first day of such Interest
         Period, select; provided, however, that:

                           (i) the Borrower may not select any Interest Period
                  that ends after the Termination Date;

                           (ii) Interest Periods commencing on the same date for
                  Eurodollar Rate Advances comprising part of the same Revolving
                  Credit Borrowing or for LIBO Rate Advances comprising part of
                  the same Competitive Bid Borrowing shall be of the same
                  duration;

                           (iii) whenever the last day of any Interest Period
                  would otherwise occur on a day other than a Business Day, the
                  last day of such Interest Period shall be extended to occur on
                  the next succeeding Business Day, provided, however, that, if
                  such extension would cause the last day of such Interest
                  Period to occur in the next following calendar month, the last
                  day of such Interest Period shall occur on the next preceding
                  Business Day; and

                           (iv) whenever the first day of any Interest Period
                  occurs on a day of an initial calendar month for which there
                  is no numerically corresponding day in the calendar month that
                  succeeds such initial calendar month by the number of months
                  equal to the number of months in such Interest Period, such
                  Interest Period shall end on the last Business Day of such
                  succeeding calendar month.

                  "Internal Revenue Code" means the Internal Revenue Code of
         1986, as amended from time to time, and the regulations promulgated and
         rulings issued thereunder.

                  "Lenders" means the Initial Lenders, each Assuming Lender that
         shall become a party hereto pursuant to Section 2.18 or 2.19 and each
         Person that shall become a party hereto pursuant to Section 9.07.

                  "LIBO Rate" means, for any Interest Period for all LIBO Rate
         Advances comprising part of the same Competitive Bid Borrowing, an
         interest rate per annum equal to the rate per annum obtained by
         dividing (a) the rate per annum (rounded upward to the nearest whole
         multiple of 1/100 of 1% per annum) appearing on Telerate Page 3750 (or
         any successor page) as the London interbank offered rate for deposits
         in U.S. dollars at approximately 11:00 A.M. (London time) two Business
         Days prior to the first day of such Interest Period for a term
         comparable to such Interest Period or, if for any reason such rate is
         not available, the average (rounded upward to the nearest whole
         multiple of 1/100 of 1% per annum, if such average is not such a
         multiple) of the rate per annum at which deposits in U.S. dollars
         offered by the principal office of each of the Reference Banks in
         London, England to prime banks in the London interbank market at 11:00
         A.M. (London time) two Business Days before the first day of such
         Interest Period in an amount substantially equal to the amount that
         would be the Reference Banks' respective ratable shares of such
         Borrowing if such Borrowing were to be a Revolving Credit Borrowing to
         be outstanding during such interest Period and for a period equal

<PAGE>
                                       9

         to such Interest Period by (b) a percentage equal to 100% minus the
         Eurodollar Rate Reserve Percentage for such Interest Period. If
         Telerate Page 3750 (or any successor page) is unavailable, the LIBO
         Rate for any Interest Period for each LIBO Rate Advance comprising part
         of the same Competitive Bid Borrowing shall be determined by the Agent
         on the basis of applicable rates furnished to and received by the Agent
         from the Reference Banks two Business Days before the first day of such
         Interest Period, subject, however, to the provisions of Section 2.08.

                  "LIBO Rate Advances" means a Competitive Bid Advance bearing
         interest based on the LIBO Rate.

                  "Lien" means any lien, security interest or other charge or
         encumbrance of any kind, or any other type of preferential arrangement,
         including, without limitation, the lien or retained security title of a
         conditional vendor.

                  "Material Adverse Change" means any material adverse change in
         the business, financial condition or results of operations of the
         Guarantor and its Subsidiaries taken as a whole.

                  "Material Adverse Effect" means a material adverse effect on
         (a) the business, financial condition or operations of the Guarantor
         and its Subsidiaries taken as a whole or (b) the rights and remedies of
         the Agent or any Lender under this Agreement or any Note.

                  "Moody's" means Moody's Investors Service, Inc.

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

                  "Multiple Employer Plan" means a single employer plan, as
         defined in Section 4001(a)(15) of ERISA, that (a) is maintained for
         employees of the Borrower, the Guarantor or any ERISA Affiliate and at
         least one Person other than the Borrower, the Guarantor and the ERISA
         Affiliates or (b) was so maintained and in respect of which the
         Borrower, the Guarantor or any ERISA Affiliate could have liability
         under Section 4064 or 4069 of ERISA in the event such plan has been or
         were to be terminated.

                  "Net Worth" means stockholders' equity of the Guarantor.

                  "Non-Consenting Lender" has the meaning specified in Section
         2.19(b).

                  "Note" means a Revolving Credit Note or a Competitive Bid
         Note.

                  "Notice of Competitive Bid Borrowing" has the meaning
         specified in Section 2.03(a).

                  "Notice of Revolving Credit Borrowing" has the meaning
         specified in Section 2.02(a).

                  "PBGC" means the Pension Benefit Guaranty Corporation (or any
         successor).

                  "Permitted Liens" means such of the following as to which no
         enforcement, collection, execution, levy or foreclosure proceeding
         shall have been commenced: (a) Liens for taxes, assessments and
         governmental charges or levies to the extent not required to be paid
         under Section 5.01(b) hereof; (b) Liens imposed by law, such as
         materialmen's, mechanics', carriers', workmen's and repairmen's Liens
         and other similar Liens arising

<PAGE>
                                       10

         in the ordinary course of business securing obligations that are not
         overdue for a period of more than 60 days or that are being contested
         in good faith by appropriate proceedings; (c) pledges or deposits to
         secure obligations under workers' compensation laws, unemployment
         insurance or similar legislation or to secure public or statutory
         obligations; and (d) easements, rights of way and other encumbrances on
         title to real property that do not render title to the property
         encumbered thereby unmarketable or materially adversely affect the use
         of such property for its present purposes.

                  "Person" means an individual, partnership, corporation
         (including a business trust), joint stock company, trust,
         unincorporated association, joint venture, limited liability company or
         other entity, or a government or any political subdivision or agency
         thereof.

                  "Plan" means a Single Employer Plan or a Multiple Employer
         Plan.

                  "Pricing Level" means, as of any date the level set forth
         below as then in effect for the Guarantor, as determined in accordance
         with the following provisions of this definition:

                  Level 1: Debt Rating of not lower than A+ by S&P or not lower
                  than A1 by Moody's or, if no Debt Rating is available from S&P
                  or Moody's, Net Worth of not less than $2,000,000,000 and
                  Debt/Total Capital Ratio of not more than 0.30:1.00.

                  Level 2: Debt Rating of lower than Level 1 but not lower than
                  A by S&P or A2 by Moody's or, if no Debt Rating is available
                  from S&P or Moody's, Net Worth of not less than $1,600,000,000
                  and Debt/Total Capital Ratio of not more than 0.35:1.00.

                  Level 3: Debt Rating of lower than Level 2 but not lower than
                  A- by S&P or A3 by Moody's or, if no Debt Rating is available
                  from S&P or Moody's, Net Worth of not less than $1,300,000,000
                  and Debt/Total Capital Ratio of not more than 0.40:1.00.

                  Level 4: Debt Rating of lower than Level 3 but not lower than
                  BBB+ by S&P or Baa1 by Moody's or, if no Debt Rating is
                  available from S&P or Moody's, Net Worth of not less than
                  $1,000,000,000 and Debt/Total Capital Ratio of not more than
                  0.45:1.00.

                  Level 5: Debt Rating of lower than Level 4 or, if no Debt
                  Rating is available from S&P or Moody's, Net Worth of less
                  than $1,000,000,000 or Debt/Total Capital Ratio of more than
                  0.45:1.00.

         For purposes of the foregoing, (a) if only one of S&P and Moody's shall
         have in effect a Debt Rating, the Pricing Level shall be determined by
         reference to the available rating; (b) if the ratings established by
         S&P and Moody's shall fall within different levels, the Pricing Level
         shall be based upon the higher rating; and (c) if no Debt Rating is
         then available (x) any change in the Pricing Level determined by
         reference to the Borrower's Net Worth or Debt/Total Capital Ratio shall
         be effective on the date that the financial statements required to be
         delivered pursuant to Section 5.01(h)(i) and (ii) are delivered or
         deemed delivered in accordance with such Section and (y) the Pricing
         Level shall be at Level 5 for so long as the Borrower has not delivered
         the information described in clause (c)(x) above as and when required
         under Section 5.01(h)(i) or (ii), as the case may be.

                  "Public Debt Rating" means, as of any date, the lowest rating
         that has been most recently announced by either S&P or Moody's, as the
         case may be, for any class of non-credit enhanced long-term senior
         unsecured debt issued by the Guarantor. For purposes of the foregoing,
         (a) if any rating established by S&P or Moody's shall be changed, such
         change shall be effective as of the date on which such change is first
         announced publicly

<PAGE>
                                       11

         by the rating agency making such change; and (b) if S&P or Moody's
         shall change the basis on which ratings are established, each reference
         to the Public Debt Rating announced by S&P or Moody's, as the case may
         be, shall refer to the then equivalent rating by S&P or Moody's, as the
         case may be.

                  "Reference Banks" means Citibank, The Chase Manhattan Bank and
         Wachovia Bank, N.A.

                  "Register" has the meaning specified in Section 9.07(d).

                  "Required Lenders" means at any time Lenders owed at least a
         majority in interest of the then aggregate unpaid principal amount of
         the Revolving Credit Advances owing to Lenders, or, if no such
         principal amount is then outstanding, Lenders having at least a
         majority in interest of the Commitments.

                  "Revolving Credit Advance" means an advance by a Lender to the
         Borrower as part of a Revolving Credit Borrowing and refers to a Base
         Rate Advance or a Eurodollar Rate Advance (each of which shall be a
         "Type" of Revolving Credit Advance).

                  "Revolving Credit Borrowing" means a borrowing consisting of
         simultaneous Revolving Credit Advances of the same Type and, in the
         case of Eurodollar Rate Advances, for the same Interest Period, made by
         each of the Lenders pursuant to Section 2.01.

                  "Revolving Credit Note" means a promissory note of the
         Borrower payable to the order of any Lender, delivered pursuant to a
         request made under Section 2.16 in substantially the form of Exhibit
         A-1 hereto, evidencing the aggregate indebtedness of the Borrower to
         such Lender resulting from the Revolving Credit Advances made by such
         Lender.

                  "S&P" means Standard & Poor's, a division of The McGraw-Hill
         Companies, Inc.

                  "Single Employer Plan" means a single employer plan, as
         defined in Section 4001(a)(15) of ERISA, that (a) is maintained for
         employees of the Borrower, the Guarantor or any ERISA Affiliate and no
         Person other than the Borrower, the Guarantor and the ERISA Affiliates
         or (b) was so maintained and in respect of which the Borrower, the
         Guarantor or any ERISA Affiliate could have liability under Section
         4069 of ERISA in the event such plan has been or were to be terminated.

                  "Subsidiary" of any Person means any corporation, partnership,
         joint venture, limited liability company, trust or estate of which (or
         in which) more than 50% of (a) the issued and outstanding capital stock
         having ordinary voting power to elect a majority of the Board of
         Directors of such corporation (irrespective of whether at the time
         capital stock of any other class or classes of such corporation shall
         or might have voting power upon the occurrence of any contingency), (b)
         the interest in the capital or profits of such limited liability
         company, partnership or joint venture or (c) the beneficial interest in
         such trust or estate is at the time directly or indirectly owned or
         controlled by such Person, by such Person and one or more of its other
         Subsidiaries or by one or more of such Person's other Subsidiaries.

                  "Termination Date" means the earlier of (a) April 20, 2005,
         subject to the extension thereof pursuant to Section 2.19 and (b) the
         date of termination in whole of the Commitments pursuant to Section
         2.05 or 6.01; provided, however, that the Termination Date of any
         Lender that is a Non-Consenting Lender to any requested extension
         pursuant to Section 2.19 shall be the Termination Date in effect
         immediately prior to the applicable Extension Date for all purposes of
         this Agreement.

<PAGE>
                                       12

                  "Voting Stock" means capital stock issued by a corporation, or
         equivalent interests in any other Person, the holders of which are
         ordinarily, in the absence of contingencies, entitled to vote for the
         election of directors (or persons performing similar functions) of such
         Person, even if the right so to vote has been suspended by the
         happening of such a contingency.

                  SECTION 1.02. Computation of Time Periods. In this Agreement
in the computation of periods of time from a specified date to a later specified
date, the word "from" means "from and including" and the words "to" and "until"
each mean "to but excluding".

                  SECTION 1.03. Accounting Terms. All accounting terms not
specifically defined herein shall be construed in accordance with generally
accepted accounting principles consistent with those applied in the preparation
of the financial statements referred to in Section 4.01(e) ("GAAP").

                                   ARTICLE II

                        AMOUNTS AND TERMS OF THE ADVANCES

                  SECTION 2.01. The Revolving Credit Advances. Each Lender
severally agrees, on the terms and conditions hereinafter set forth, to make
Revolving Credit Advances to the Borrower from time to time on any Business Day
during the period from the Effective Date until the Termination Date in an
aggregate amount not to exceed at any time outstanding such Lender's Commitment
provided that the aggregate amount of the Commitments of the Lenders shall be
deemed used from time to time to the extent of the aggregate amount of the
Competitive Bid Advances then outstanding and such deemed use of the aggregate
amount of the Commitments shall be allocated among the Lenders ratably according
to their respective Commitments (such deemed use of the aggregate amount of the
Commitments being a "Competitive Bid Reduction"). Each Revolving Credit
Borrowing shall be in an aggregate amount of $5,000,000 or an integral multiple
of $1,000,000 in excess thereof and shall consist of Revolving Credit Advances
of the same Type made on the same day by the Lenders ratably according to their
respective Commitments. Within the limits of each Lender's Commitment, the
Borrower may borrow under this Section 2.01, prepay pursuant to Section 2.10 and
reborrow under this Section 2.01.

                  SECTION 2.02. Making the Revolving Credit Advances. (a) Each
Revolving Credit Borrowing shall be made on notice, given not later than (x)
11:00 A.M. (New York City time) on the third Business Day prior to the date of
the proposed Revolving Credit Borrowing in the case of a Revolving Credit
Borrowing consisting of Eurodollar Rate Advances or (y) 11:00 A.M. (New York
City time) on the date of the proposed Revolving Credit Borrowing in the case of
a Revolving Credit Borrowing consisting of Base Rate Advances, by the Borrower
to the Agent, which shall give to each Lender prompt notice thereof by
telecopier or telex. Each such notice of a Revolving Credit Borrowing (a "Notice
of Revolving Credit Borrowing") shall be by telephone, confirmed immediately in
writing, or telecopier or telex in substantially the form of Exhibit B-1 hereto,
specifying therein the requested (i) date of such Revolving Credit Borrowing,
(ii) Type of Advances comprising such Revolving Credit Borrowing, (iii)
aggregate amount of such Revolving Credit Borrowing, and (iv) in the case of a
Revolving Credit Borrowing consisting of Eurodollar Rate Advances, initial
Interest Period for each such Revolving Credit Advance. Each Lender shall,
before 12:00 noon (New York City time) on the date of such Revolving Credit
Borrowing make available for the account of its Applicable Lending Office to the
Agent at the Agent's Account, in same day funds, such Lender's ratable portion
of such Revolving Credit Borrowing. After the Agent's receipt of such funds and
upon fulfillment of the applicable conditions set forth in Article III, the
Agent will make such funds available to the Borrower at the Agent's address
referred to in Section 9.02.

<PAGE>
                                       13

                  (b) Anything in subsection (a) above to the contrary
notwithstanding, (i) the Borrower may not select Eurodollar Rate Advances for
any Revolving Credit Borrowing if the aggregate amount of such Revolving Credit
Borrowing is less than $5,000,000 or if the obligation of the Lenders to make
Eurodollar Rate Advances shall then be suspended pursuant to Section 2.08 or
2.12 and (ii) the Eurodollar Rate Advances may not be outstanding as part of
more than ten separate Revolving Credit Borrowings.

                  (c) Each Notice of Revolving Credit Borrowing shall be
irrevocable and binding on the Borrower. In the case of any Revolving Credit
Borrowing that the related Notice of Revolving Credit Borrowing specifies is to
be comprised of Eurodollar Rate Advances, the Borrower shall indemnify each
Lender against any loss, cost or expense incurred by such Lender as a result of
any failure to fulfill on or before the date specified in such Notice of
Revolving Credit Borrowing for such Revolving Credit Borrowing the applicable
conditions set forth in Article III, including, without limitation, any loss
(excluding loss of anticipated profits), cost or expense incurred by reason of
the liquidation or reemployment of deposits or other funds acquired by such
Lender to fund the Revolving Credit Advance to be made by such Lender as part of
such Revolving Credit Borrowing when such Revolving Credit Advance, as a result
of such failure, is not made on such date.

                  (d) Unless the Agent shall have received notice from a Lender
prior to the date of any Revolving Credit Borrowing that such Lender will not
make available to the Agent such Lender's ratable portion of such Revolving
Credit Borrowing, the Agent may assume that such Lender has made such portion
available to the Agent on the date of such Revolving Credit Borrowing in
accordance with subsection (a) of this Section 2.02 and the Agent may, in
reliance upon such assumption, make available to the Borrower on such date a
corresponding amount. If and to the extent that such Lender shall not have so
made such ratable portion available to the Agent, such Lender and the Borrower
severally agree to repay to the Agent forthwith on demand such corresponding
amount together with interest thereon, for each day from the date such amount is
made available to the Borrower until the date such amount is repaid to the
Agent, at (i) in the case of the Borrower, the interest rate applicable at the
time to Revolving Credit Advances comprising such Revolving Credit Borrowing and
(ii) in the case of such Lender, the Federal Funds Rate. If such Lender shall
repay to the Agent such corresponding amount, such amount so repaid shall
constitute such Lender's Revolving Credit Advance as part of such Revolving
Credit Borrowing for purposes of this Agreement.

                  (e) The failure of any Lender to make the Revolving Credit
Advance to be made by it as part of any Revolving Credit Borrowing shall not
relieve any other Lender of its obligation, if any, hereunder to make its
Revolving Credit Advance on the date of such Revolving Credit Borrowing, but no
Lender shall be responsible for the failure of any other Lender to make the
Revolving Credit Advance to be made by such other Lender on the date of any
Revolving Credit Borrowing.

                  SECTION 2.03. The Competitive Bid Advances. (a) Each Lender
severally agrees that the Borrower may make Competitive Bid Borrowings under
this Section 2.03 from time to time on any Business Day during the period from
the date hereof until the date occurring 10 days prior to the Termination Date
in the manner set forth below; provided that, following the making of each
Competitive Bid Borrowing, the aggregate amount of the Advances then outstanding
shall not exceed the aggregate amount of the Commitments of the Lenders
(computed without regard to any Competitive Bid Reduction).

                  (i) The Borrower may request a Competitive Bid Borrowing under
         this Section 2.03 by delivering to the Agent, by telecopier or telex, a
         notice of a Competitive Bid Borrowing (a "Notice of Competitive Bid
         Borrowing"), in substantially the form of Exhibit B-2 hereto,
         specifying therein the requested (v) date of such proposed Competitive
         Bid Borrowing, (w) aggregate amount of such proposed Competitive Bid
         Borrowing, (x) in the case of a Competitive Bid Borrowing consisting of
         LIBO Rate Advances, Interest Period, or in the case of a Competitive
         Bid Borrowing consisting of Fixed Rate Advances, maturity date for
         repayment of each Fixed Rate Advance to be made as part of such
         Competitive Bid Borrowing (which maturity

<PAGE>
                                       14

         date may not be earlier than the date occurring 7 days after the date
         of such Competitive Bid Borrowing or later than the Termination Date),
         (y) interest payment date or dates relating thereto, and (z) other
         terms (if any) to be applicable to such Competitive Bid Borrowing, not
         later than 10:00 A.M. (New York City time) (A) at least one Business
         Day prior to the date of the proposed Competitive Bid Borrowing, if the
         Borrower shall specify in the Notice of Competitive Bid Borrowing that
         the rates of interest to be offered by the Lenders shall be fixed rates
         per annum (the Advances comprising any such Competitive Bid Borrowing
         being referred to herein as "Fixed Rate Advances") and (B) at least
         four Business Days prior to the date of the proposed Competitive Bid
         Borrowing, if the Borrower shall instead specify in the Notice of
         Competitive Bid Borrowing that the Advances comprising such Competitive
         Bid Borrowing shall be LIBO Rate Advances. Each Notice of Competitive
         Bid Borrowing shall be irrevocable and binding on the Borrower. The
         Agent shall in turn promptly notify each Lender of each request for a
         Competitive Bid Borrowing received by it from the Borrower by sending
         such Lender a copy of the related Notice of Competitive Bid Borrowing.

                  (ii) Each Lender may, if, in its sole discretion, it elects to
         do so, irrevocably offer to make one or more Competitive Bid Advances
         to the Borrower as part of such proposed Competitive Bid Borrowing at a
         rate or rates of interest specified by such Lender in its sole
         discretion, by notifying the Agent (which shall give prompt notice
         thereof to the Borrower), (A) before 9:30 A.M. (New York City time) on
         the date of such proposed Competitive Bid Borrowing, in the case of a
         Competitive Bid Borrowing consisting of Fixed Rate Advances and (B)
         before 10:00 A.M. (New York City time) three Business Days before the
         date of such proposed Competitive Bid Borrowing, in the case of a
         Competitive Bid Borrowing consisting of LIBO Rate Advances of the
         minimum amount and maximum amount of each Competitive Bid Advance which
         such Lender would be willing to make as part of such proposed
         Competitive Bid Borrowing (which amounts of such proposed Competitive
         Bid may, subject to the proviso to the first sentence of this Section
         2.03(a), exceed such Lender's Commitment, if any), the rate or rates of
         interest therefor and such Lender's Applicable Lending Office with
         respect to such Competitive Bid Advance; provided that if the Agent in
         its capacity as a Lender shall, in its sole discretion, elect to make
         any such offer, it shall notify the Borrower of such offer at least 30
         minutes before the time and on the date on which notice of such
         election is to be given to the Agent, by the other Lenders. If any
         Lender shall elect not to make such an offer, such Lender shall so
         notify the Agent before 10:00 A.M. (New York City time), and such
         Lender shall not be obligated to, and shall not, make any Competitive
         Bid Advance as part of such Competitive Bid Borrowing; provided that
         the failure by any Lender to give such notice shall not cause such
         Lender to be obligated to make any Competitive Bid Advance as part of
         such proposed Competitive Bid Borrowing.

                  (iii) The Borrower shall, in turn, (A) before 10:30 A.M. (New
         York City time) on the date of such proposed Competitive Bid Borrowing,
         in the case of a Competitive Bid Borrowing consisting of Fixed Rate
         Advances and (B) before 11:00 A.M. (New York City time) three Business
         Days before the date of such proposed Competitive Bid Borrowing, in the
         case of a Competitive Bid Borrowing consisting of LIBO Rate Advances,
         either:

                           (x) cancel such Competitive Bid Borrowing by giving
                  the Agent notice to that effect, or

                           (y) accept one or more of the offers made by any
                  Lender or Lenders pursuant to paragraph (ii) above, in its
                  sole discretion, by giving notice to the Agent of the amount
                  of each Competitive Bid Advance (which amount shall be equal
                  to or greater than the minimum amount, and equal to or less
                  than the maximum amount, notified to the Borrower by the Agent
                  on behalf of such Lender for such Competitive Bid Advance
                  pursuant to paragraph (ii) above) to be made by each Lender as
                  part of such Competitive Bid Borrowing, and reject any
                  remaining offers made by Lenders pursuant to paragraph (ii)
                  above by giving the Agent notice to that effect. The Borrower
                  shall accept

<PAGE>
                                       15

                  the offers made by any Lender or Lenders to make Competitive
                  Bid Advances in order of the lowest to the highest rates of
                  interest offered by such Lenders. If two or more Lenders have
                  offered the same interest rate, the amount to be borrowed at
                  such interest rate will be allocated among such Lenders in
                  proportion to the amount that each such Lender offered at such
                  interest rate (with appropriate rounding, in the sole
                  discretion of the Borrower, to assure that each accepted
                  Competitive Bid Advance is an integral multiple of
                  $1,000,000).

                  (iv) If the Borrower notifies the Agent that such Competitive
         Bid Borrowing is canceled pursuant to paragraph (iii)(x) above, the
         Agent shall give prompt notice thereof to the Lenders and such
         Competitive Bid Borrowing shall not be made.

                  (v) If the Borrower accepts one or more of the offers made by
         any Lender or Lenders pursuant to paragraph (iii)(y) above, the Agent
         shall in turn promptly notify (A) each Lender that has made an offer as
         described in paragraph (ii) above, of the date and aggregate amount of
         such Competitive Bid Borrowing and whether or not any offer or offers
         made by such Lender pursuant to paragraph (ii) above have been accepted
         by the Borrower, (B) each Lender that is to make a Competitive Bid
         Advance as part of such Competitive Bid Borrowing, of the amount of
         each Competitive Bid Advance to be made by such Lender as part of such
         Competitive Bid Borrowing, and (C) each Lender that is to make a
         Competitive Bid Advance as part of such Competitive Bid Borrowing, upon
         receipt, that the Agent has received forms of documents appearing to
         fulfill the applicable conditions set forth in Article III. Each Lender
         that is to make a Competitive Bid Advance as part of such Competitive
         Bid Borrowing shall, before 11:00 A.M. (New York City time) on the date
         of such Competitive Bid Borrowing specified in the notice received from
         the Agent pursuant to clause (A) of the preceding sentence or any later
         time when such Lender shall have received notice from the Agent
         pursuant to clause (C) of the preceding sentence, make available for
         the account of its Applicable Lending Office to the Agent at its
         address referred to in Section 9.02, in same day funds, such Lender's
         portion of such Competitive Bid Borrowing. Upon fulfillment of the
         applicable conditions set forth in Article III and after receipt by the
         Agent of such funds, the Agent will make such funds available to the
         Borrower at the location specified by the Borrower in its Notice of
         Competitive Bid Borrowing. Promptly after each Competitive Bid
         Borrowing the Agent will notify each Lender of the amount of the
         Competitive Bid Borrowing, the consequent Competitive Bid Reduction and
         the dates upon which such Competitive Bid Reduction commenced and will
         terminate.

                  (vi) If the Borrower notifies the Agent that it accepts one or
         more of the offers made by any Lender or Lenders pursuant to paragraph
         (iii)(y) above, such notice of acceptance shall be irrevocable and
         binding on the Borrower. The Borrower shall indemnify each Lender
         against any loss, cost or expense incurred by such Lender as a result
         of any failure to fulfill on or before the date specified in the
         related Notice of Competitive Bid Borrowing for such Competitive Bid
         Borrowing the applicable conditions set forth in Article III,
         including, without limitation, any loss (excluding loss of anticipated
         profits), cost or expense incurred by reason of the liquidation or
         reemployment of deposits or other funds acquired by such Lender to fund
         the Competitive Bid Advance to be made by such Lender as part of such
         Competitive Bid Borrowing when such Competitive Bid Advance, as a
         result of such failure, is not made on such date.

                  (b) Each Competitive Bid Borrowing shall be in an aggregate
amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof
and, following the making of each Competitive Bid Borrowing, the Borrower shall
be in compliance with the limitations set forth in the proviso to the first
sentence of subsection (a) above.

                  (c) Within the limits and on the conditions set forth in this
Section 2.03, the Borrower may from time to time borrow under this Section 2.03,
repay or prepay pursuant to subsection (d) below, and reborrow under this
Section 2.03, provided that a Competitive Bid Borrowing shall not be made within
three Business Days of the date of any other Competitive Bid Borrowing.

<PAGE>
                                       16

                  (d) The Borrower shall repay to the Agent for the account of
each Lender that has made a Competitive Bid Advance, on the maturity date of
each Competitive Bid Advance (such maturity date being that specified by the
Borrower for repayment of such Competitive Bid Advance in the related Notice of
Competitive Bid Borrowing delivered pursuant to subsection (a)(i) above and
provided in the Competitive Bid Note evidencing such Competitive Bid Advance),
the then unpaid principal amount of such Competitive Bid Advance. The Borrower
shall have no right to prepay any principal amount of any Competitive Bid
Advance unless, and then only on the terms, specified by the Borrower for such
Competitive Bid Advance in the related Notice of Competitive Bid Borrowing
delivered pursuant to subsection (a)(i) above and set forth in the Competitive
Bid Note evidencing such Competitive Bid Advance or except in connection with an
assignment of such Lender's Commitments as a result of a demand by the Borrower
under Section 9.07(a).

                  (e) The Borrower shall pay interest on the unpaid principal
amount of each Competitive Bid Advance from the date of such Competitive Bid
Advance to the date the principal amount of such Competitive Bid Advance is
repaid in full, at the rate of interest for such Competitive Bid Advance
specified by the Lender making such Competitive Bid Advance in its notice with
respect thereto delivered pursuant to subsection (a)(ii) above, payable on the
interest payment date or dates specified by the Borrower for such Competitive
Bid Advance in the related Notice of Competitive Bid Borrowing delivered
pursuant to subsection (a)(i) above, as provided in the Competitive Bid Note
evidencing such Competitive Bid Advance. Upon the occurrence and during the
continuance of an Event of Default under Section 6.01(a), the Borrower shall pay
interest on the amount of unpaid principal of and interest on each Competitive
Bid Advance owing to a Lender, payable in arrears on the date or dates interest
is payable thereon, at a rate per annum equal at all times to 2% per annum above
the rate per annum required to be paid on such Competitive Bid Advance under the
terms of the Competitive Bid Note evidencing such Competitive Bid Advance unless
otherwise agreed in such Competitive Bid Note.

                  (f) The indebtedness of the Borrower resulting from each
Competitive Bid Advance made to the Borrower as part of a Competitive Bid
Borrowing shall be evidenced by a separate Competitive Bid Note of the Borrower
payable to the order of the Lender making such Competitive Bid Advance.

                  SECTION 2.04. Fees. (a) Facility Fee. The Borrower agrees to
pay to the Agent for the account of each Lender a facility fee on the aggregate
amount of such Lender's Commitment from the Effective Date in the case of each
Initial Lender and from the effective date specified in the Assumption Agreement
or in the Assignment and Acceptance pursuant to which it became a Lender in the
case of each other Lender until the Termination Date at a rate per annum equal
to the Applicable Percentage in effect from time to time, payable in arrears
quarterly on the last day of each March, June, September and December,
commencing June 30, 2000, and on the Termination Date.

                  (b) Agent's Fees. The  Borrower shall pay to the Agent for its
own account such fees as may from time to time be agreed between the Borrower
and the Agent.

                  SECTION 2.05. Optional Termination or Reduction of the
Commitments. The Borrower shall have the right, upon at least three Business
Days' notice to the Agent, to terminate in whole or reduce ratably in part the
unused portions of the respective Commitments of the Lenders, provided that each
partial reduction shall be in the aggregate amount of $10,000,000 or an integral
multiple of $1,000,000 in excess thereof and provided further that the aggregate
amount of the Commitments of the Lenders shall not be reduced to an amount that
is less than the aggregate principal amount of the Competitive Bid Advances then
outstanding.

                  SECTION 2.06. Repayment of Revolving Credit Advances. The
Borrower shall repay to the Agent for the ratable account of the Lenders on the
Termination Date the aggregate principal amount of the Revolving Credit Advances
then outstanding.

<PAGE>
                                       17

                  SECTION 2.07. Interest on Revolving Credit Advances. (a)
Scheduled Interest. The Borrower shall pay interest on the unpaid principal
amount of each Revolving Credit Advance owing to each Lender from the date of
such Revolving Credit Advance until such principal amount shall be paid in full,
at the following rates per annum:

                  (i) Base Rate Advances. During such periods as such Revolving
         Credit Advance is a Base Rate Advance, a rate per annum equal at all
         times to the sum of (x) the Base Rate in effect from time to time plus
         (y) the Applicable Margin in effect from time to time plus (z) the
         Applicable Utilization Fee in effect from time to time, payable in
         arrears quarterly on the last day of each March, June, September and
         December during such periods and on the date such Base Rate Advance
         shall be Converted or paid in full.

                  (ii) Eurodollar Rate Advances. During such periods as such
         Revolving Credit Advance is a Eurodollar Rate Advance, a rate per annum
         equal at all times during each Interest Period for such Revolving
         Credit Advance to the sum of (x) the Eurodollar Rate for such Interest
         Period for such Revolving Credit Advance plus (y) the Applicable Margin
         in effect from time to time plus (z) the Applicable Utilization Fee in
         effect from time to time, payable in arrears on the last day of such
         Interest Period and, if such Interest Period has a duration of more
         than three months, on each day that occurs during such Interest Period
         every three months from the first day of such Interest Period and on
         the date such Eurodollar Rate Advance shall be Converted or paid in
         full.

                  (b) Default Interest. Upon the occurrence and during the
continuance of an Event of Default under Section 6.01(a), the Borrower shall pay
interest on (i) the unpaid principal amount of each Revolving Credit Advance
owing to each Lender, payable in arrears on the dates referred to in clause
(a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum
above the rate per annum required to be paid on such Revolving Credit Advance
pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent
permitted by law, the amount of any interest, fee or other amount payable
hereunder that is not paid when due, from the date such amount shall be due
until such amount shall be paid in full, payable in arrears on the date such
amount shall be paid in full and on demand, at a rate per annum equal at all
times to 2% per annum above the rate per annum required to be paid on Base Rate
Advances pursuant to clause (a)(i) above.

                  SECTION 2.08. Interest Rate Determination. (a) The Agent shall
give prompt notice to the Borrower and the Lenders of the applicable interest
rate determined by the Agent for purposes of Section 2.07(a)(i) or (ii), and the
rate, if any, furnished by each Reference Bank for the purpose of determining
the interest rate under Section 2.07(a)(ii).

                  (b) If, with respect to any Eurodollar Rate Advances, the
Required Lenders notify the Agent that the Eurodollar Rate for any Interest
Period for such Advances will not adequately reflect the cost to such Required
Lenders of making, funding or maintaining their respective Eurodollar Rate
Advances for such Interest Period, the Agent shall forthwith so notify the
Borrower and the Lenders, whereupon (i) each Eurodollar Rate Advance will
automatically, on the last day of the then existing Interest Period therefor,
Convert into a Base Rate Advance, and (ii) the obligation of the Lenders to
make, or to Convert Revolving Credit Advances into, Eurodollar Rate Advances
shall be suspended until the Agent shall notify the Borrower and the Lenders
that the circumstances causing such suspension no longer exist.

                  (c) If the Borrower shall fail to select the duration of any
Interest Period for any Eurodollar Rate Advances in accordance with the
provisions contained in the definition of "Interest Period" in Section 1.01, the
Agent will forthwith so notify the Borrower and the Lenders and such Advances
will automatically, on the last day of the then existing Interest Period
therefor, be Converted into Base Rate Advances.

<PAGE>
                                       18

                  (d) On the date on which the aggregate unpaid principal amount
of Eurodollar Rate Advances comprising any Borrowing shall be reduced, by
payment or prepayment or otherwise, to less than $5,000,000, such Advances shall
automatically Convert into Base Rate Advances.

                  (e) Upon the occurrence and during the continuance of any
Event of Default under Section 6.01(a), (i) each Eurodollar Rate Advance will
automatically, on the last day of the then existing Interest Period therefor,
Convert into a Base Rate Advance and (ii) the obligation of the Lenders to make,
or to Convert Advances into, Eurodollar Rate Advances shall be suspended.

                  (f) If Telerate Page 3750 is unavailable and fewer than two
Reference Banks furnish timely information to the Agent for determining the
Eurodollar Rate or LIBO Rate for any Eurodollar Rate Advances or LIBO Rate
Advances, as the case may be,

                  (i) the Agent shall forthwith notify the Borrower and the
         Lenders that the interest rate cannot be determined for such Eurodollar
         Rate Advances or LIBO Rate Advances, as the case may be,

                  (ii) with respect to Eurodollar Rate Advances, each such
         Advance will automatically, on the last day of the then existing
         Interest Period therefor, be prepaid by the Borrower or be
         automatically Converted into a Base Rate Advance (or if such Advance is
         then a Base Rate Advance, will continue as a Base Rate Advance), and

                  (iii) the obligation of the Lenders to make Eurodollar Rate
         Advances or LIBO Rate Advances or to Convert Revolving Credit Advances
         into Eurodollar Rate Advances shall be suspended until the Agent shall
         notify the Borrower and the Lenders that the circumstances causing such
         suspension no longer exist.

                  SECTION 2.09. Optional Conversion of Revolving Credit
Advances. The Borrower may on any Business Day, upon notice given to the Agent
not later than 11:00 A.M. (New York City time) on the third Business Day prior
to the date of the proposed Conversion and subject to the provisions of Sections
2.08 and 2.12, Convert all Revolving Credit Advances of one Type comprising the
same Borrowing into Revolving Credit Advances of the other Type; provided,
however, that any Conversion of Base Rate Advances into Eurodollar Rate Advances
shall be in an amount not less than the minimum amount specified in Section
2.02(b) and no Conversion of any Revolving Credit Advances shall result in more
separate Revolving Credit Borrowings than permitted under Section 2.02(b). Each
such notice of a Conversion shall, within the restrictions specified above,
specify (i) the date of such Conversion, (ii) the Revolving Credit Advances to
be Converted, and (iii) if such Conversion is into Eurodollar Rate Advances, the
duration of the initial Interest Period for each such Advance. Each notice of
Conversion shall be irrevocable and binding on the Borrower.

                  SECTION 2.10. Prepayments of Revolving Credit Advances. The
Borrower may, upon notice at least two Business Days' prior to the date of such
prepayment, in the case of Eurodollar Rate Advances, and not later than 11:00
A.M. (New York City time) on the date of such prepayment, in the case of Base
Rate Advances, to the Agent stating the proposed date and aggregate principal
amount of the prepayment, and if such notice is given the Borrower shall, prepay
the outstanding principal amount of the Revolving Credit Advances comprising
part of the same Revolving Credit Borrowing in whole or ratably in part,
together with accrued interest to the date of such prepayment on the principal
amount prepaid; provided, however, that (x) each partial prepayment shall be in
an aggregate principal amount of $5,000,000 or an integral multiple of
$1,000,000 in excess thereof and (y) in the event of any such prepayment of a
Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the
Lenders in respect thereof pursuant to Section 9.04(c).

<PAGE>
                                       19

                  SECTION 2.11. Increased Costs. (a) If, due to either (i) the
introduction of or any change in or in the interpretation of any law or
regulation or (ii) the compliance with any guideline or request from any central
bank or other governmental authority (whether or not having the force of law),
there shall be any increase in the cost to any Lender of agreeing to make or
making, funding or maintaining Eurodollar Rate Advances or LIBO Rate Advances
(excluding for purposes of this Section 2.11 any such increased costs resulting
from (i) Taxes or Other Taxes (as to which Section 2.14 shall govern) and (ii)
changes in the basis of taxation of overall net income or overall gross income
by the United States or by the foreign jurisdiction or state under the laws of
which such Lender is organized or has its Applicable Lending Office or any
political subdivision thereof), then the Borrower shall from time to time, upon
demand by such Lender (with a copy of such demand to the Agent), pay to the
Agent for the account of such Lender additional amounts sufficient to compensate
such Lender for such increased cost. A certificate as to the amount of such
increased cost, submitted to the Borrower and the Agent by such Lender, shall be
conclusive and binding for all purposes, absent manifest error.

                  (b) If any Lender determines that compliance with any law or
regulation or any guideline or request from any central bank or other
governmental authority (whether or not having the force of law) affects or would
affect the amount of capital required or expected to be maintained by such
Lender or any corporation controlling such Lender and that the amount of such
capital is increased by or based upon the existence of such Lender's commitment
to lend hereunder and other commitments of this type, then, upon demand by such
Lender (with a copy of such demand to the Agent), the Borrower shall pay to the
Agent for the account of such Lender, from time to time as specified by such
Lender, additional amounts sufficient to compensate such Lender or such
corporation in the light of such circumstances, to the extent that such Lender
reasonably determines such increase in capital to be allocable to the existence
of such Lender's commitment to lend hereunder. A certificate as to such amounts
submitted to the Borrower and the Agent by such Lender shall be conclusive and
binding for all purposes, absent manifest error.

                  (c) Notwithstanding the foregoing, the Borrower shall not be
required to compensate a Lender pursuant to this Section 2.11 for any amounts
incurred more than six months prior to the date that such Lender notifies the
Borrower of such Lender's intention to claim compensation therefor; provided
that, if the circumstances giving rise to such claim have a retroactive effect,
then such six-month period shall be extended to include the period of such
retroactive effect.

                  SECTION 2.12. Illegality. Notwithstanding any other provision
of this Agreement, if any Lender shall notify the Agent that the introduction of
or any change in or in the interpretation of any law or regulation makes it
unlawful, or any central bank or other governmental authority asserts that it is
unlawful, for any Lender or its Eurodollar Lending Office to perform its
obligations hereunder to make Eurodollar Rate Advances or to fund or maintain
Eurodollar Rate Advances hereunder, (a) each Eurodollar Rate Advance will
automatically, upon such demand, Convert into a Base Rate Advance and (b) the
obligation of the Lenders to make Eurodollar Rate Advances or LIBO Rate Advances
or to Convert Revolving Credit Advances into Eurodollar Rate Advances shall be
suspended until the Agent shall notify the Borrower and the Lenders that the
circumstances causing such suspension no longer exist.

                  SECTION 2.13. Payments and Computations. (a) The Borrower
shall make each payment hereunder not later than 11:00 A.M. (New York City time)
on the day when due to the Agent at the Agent's Account in same day funds. The
Agent will promptly thereafter cause to be distributed like funds relating to
the payment of principal or interest or facility fees ratably (other than
amounts payable pursuant to Section 2.03, 2.11, 2.14 or 9.04(c)) to the Lenders
for the account of their respective Applicable Lending Offices, and like funds
relating to the payment of any other amount payable to any Lender to such Lender
for the account of its Applicable Lending Office, in each case to be applied in
accordance with the terms of this Agreement. Upon any Assuming Lender becoming a
Lender hereunder as a result of a Commitment Increase pursuant to Section 2.18
or an extension of the Termination Date pursuant to Section 2.19, and upon the
Agent's receipt of such Lender's Assumption Agreement and recording of the
information contained therein in the Register, from and after the applicable
Increase Date or Extension Date, as the case may be, the
<PAGE>
                                       20

Agent shall make all payments hereunder and under any Notes issued in connection
therewith in respect of the interest assumed thereby to the Assuming Lender.
Upon its acceptance of an Assignment and Acceptance and recording of the
information contained therein in the Register pursuant to Section 9.07(c), from
and after the effective date specified in such Assignment and Acceptance, the
Agent shall make all payments hereunder and under the Notes in respect of the
interest assigned thereby to the Lender assignee thereunder, and the parties to
such Assignment and Acceptance shall make all appropriate adjustments in such
payments for periods prior to such effective date directly between themselves.

                  (b) All computations of interest based on the Base Rate shall
be made by the Agent on the basis of a year of 365 or 366 days, as the case may
be, all computations of interest based on the Eurodollar Rate, the LIBO Rate or
the Federal Funds Rate or in respect of Fixed Rate Advances and of fees shall be
made by the Agent on the basis of a year of 360 days, in each case for the
actual number of days (including the first day but excluding the last day)
occurring in the period for which such interest or facility fees are payable.
Each determination by the Agent of an interest rate hereunder shall be
conclusive and binding for all purposes, absent manifest error.

                  (c) Whenever any payment hereunder or under the Notes shall be
stated to be due on a day other than a Business Day, such payment shall be made
on the next succeeding Business Day, and such extension of time shall in such
case be included in the computation of payment of interest or facility fee, as
the case may be; provided, however, that, if such extension would cause payment
of interest on or principal of Eurodollar Rate Advances or LIBO Rate Advances to
be made in the next following calendar month, such payment shall be made on the
next preceding Business Day.

                  (d) Unless the Agent shall have received notice from the
Borrower prior to the date on which any payment is due to the Lenders hereunder
that the Borrower will not make such payment in full, the Agent may assume that
the Borrower has made such payment in full to the Agent on such date and the
Agent may, in reliance upon such assumption, cause to be distributed to each
Lender on such due date an amount equal to the amount then due such Lender. If
and to the extent the Borrower shall not have so made such payment in full to
the Agent, each Lender shall repay to the Agent forthwith on demand such amount
distributed to such Lender together with interest thereon, for each day from the
date such amount is distributed to such Lender until the date such Lender repays
such amount to the Agent, at the Federal Funds Rate.

                  SECTION 2.14. Taxes. (a) Any and all payments by the Borrower
or the Guarantor hereunder or under the Notes shall be made, in accordance with
Section 2.13, free and clear of and without deduction for any and all present or
future taxes, levies, imposts, deductions, charges or withholdings, and all
liabilities with respect thereto, excluding, in the case of each Lender and the
Agent, taxes imposed on its overall net income, and franchise taxes imposed on
it in lieu of net income taxes, by the jurisdiction under the laws of which such
Lender or the Agent (as the case may be) is organized or any political
subdivision thereof and, in the case of each Lender, taxes imposed on its
overall net income, and franchise taxes imposed on it in lieu of net income
taxes, by the jurisdiction of such Lender's Applicable Lending Office or any
political subdivision thereof or any other jurisdiction that is imposed on the
Agent or any Lender as a result of a present or former connection between the
Agent or such Lender and such jurisdiction (other than any such connection
arising solely from the Agent or such Lender having executed, delivered or
performed its obligations or received a payment under, or enforced, this
Agreement or the Notes) (all such non-excluded taxes, levies, imposts,
deductions, charges, withholdings and liabilities in respect of payments
hereunder or under the Notes being hereinafter referred to as "Taxes"). If the
Borrower or the Guarantor shall be required by law to deduct any Taxes from or
in respect of any sum payable hereunder or under any Note to any Lender or the
Agent, (i) the sum payable shall be increased as may be necessary so that after
making all required deductions (including deductions applicable to additional
sums payable under this Section 2.14) such Lender or the Agent (as the case may
be) receives an amount equal to the sum it would have received had no such
deductions been made, (ii) the Borrower or the Guarantor shall make such
deductions and (iii) the Borrower or the Guarantor shall pay the full amount
deducted to the relevant taxation authority or other authority in accordance
with applicable law.
<PAGE>
                                       21

                  (b) In addition, the Borrower shall pay any present or future
stamp or documentary taxes or any other excise or property taxes, charges or
similar levies that arise from any payment made hereunder or under the Notes or
from the execution, delivery or registration of, performing under, or otherwise
with respect to, this Agreement or the Notes (hereinafter referred to as "Other
Taxes").

                  (c) The Borrower shall indemnify each Lender and the Agent for
and hold it harmless against the full amount of Taxes or Other Taxes (including,
without limitation, taxes of any kind imposed by any jurisdiction on amounts
payable under this Section 2.14) imposed on or paid by such Lender or the Agent
(as the case may be) and any liability (including penalties, interest and
expenses) arising therefrom or with respect thereto. This indemnification shall
be made within 30 days from the date such Lender or the Agent (as the case may
be) makes written demand therefor.

                  (d) Within 30 days after the date of any payment of Taxes, the
Borrower or the Guarantor, as the case may be, shall furnish to the Agent, at
its address referred to in Section 9.02, the original or a certified copy of a
receipt evidencing such payment. In the case of any payment hereunder or under
the Notes by or on behalf of the Borrower through an account or branch outside
the United States or by or on behalf of the Borrower or the Guarantor, as the
case may be, by a payor that is not a United States person, if the Borrower or
the Guarantor, as the case may be, determines that no Taxes are payable in
respect thereof, the Borrower or the Guarantor shall furnish, or shall cause
such payor to furnish, to the Agent, at such address, an opinion of counsel
acceptable to the Agent stating that such payment is exempt from Taxes. For
purposes of this subsection (d) and subsection (e), the terms "United States"
and "United States person" shall have the meanings specified in Section 7701 of
the Internal Revenue Code.

                  (e) Each Lender organized under the laws of a jurisdiction
outside the United States, on or prior to the date of its execution and delivery
of this Agreement in the case of each Initial Lender and on the date of the
Assumption Agreement or the Assignment and Acceptance pursuant to which it
becomes a Lender in the case of each other Lender, and from time to time
thereafter as requested in writing by the Borrower (but only so long as such
Lender remains lawfully able to do so), shall provide each of the Agent and the
Borrower with two original Internal Revenue Service forms W-8BEN or W-8ECI, as
appropriate, or any successor or other form prescribed by the Internal Revenue
Service, certifying that such Lender is exempt from or entitled to a reduced
rate of United States withholding tax on payments pursuant to this Agreement or
the Notes. If the form provided by a Lender at the time such Lender first
becomes a party to this Agreement indicates a United States interest withholding
tax rate in excess of zero, withholding tax at such rate shall be considered
excluded from Taxes unless and until such Lender provides the appropriate forms
certifying that a lesser rate applies, whereupon withholding tax at such lesser
rate only shall be considered excluded from Taxes for periods governed by such
form; provided, however, that, if at the date of the Assignment and Acceptance
pursuant to which a Lender assignee becomes a party to this Agreement, the
Lender assignor was entitled to payments under subsection (a) in respect of
United States withholding tax with respect to interest paid at such date, then,
to such extent, the term Taxes shall include (in addition to withholding taxes
that may be imposed in the future or other amounts otherwise includable in
Taxes) United States withholding tax, if any, applicable with respect to the
Lender assignee on such date. If any form or document referred to in this
subsection (e) requires the disclosure of information, other than information
necessary to compute the tax payable and information required on the date hereof
by Internal Revenue Service form W-8BEN or W-8ECI, that the Lender reasonably
considers to be confidential, the Lender shall give notice thereof to the
Borrower and shall not be obligated to include in such form or document such
confidential information.

                  (f) For any period with respect to which a Lender has failed
to provide the Borrower with the appropriate form described in Section 2.14(e)
(other than if such failure is due to a change in law occurring subsequent to
the date on which a form originally was required to be provided, or if such form
otherwise is not required under subsection (e) above), such Lender shall not be
entitled to indemnification under Section 2.14(a) or (c) with respect to Taxes
imposed by the United States by reason of such failure; provided, however, that
should a Lender become subject
<PAGE>
                                       22

to Taxes because of its failure to deliver a form required hereunder, the
Borrower shall take such steps as the Lender shall reasonably request to assist
the Lender to recover such Taxes.

                  (g) Any Lender claiming any additional amounts payable
pursuant to this Section 2.14 agrees to use reasonable efforts (consistent with
its internal policy and legal and regulatory restrictions) to change the
jurisdiction of its Eurodollar Lending Office if the making of such a change
would avoid the need for, or reduce the amount of, any such additional amounts
that may thereafter accrue and would not, in the reasonable judgment of such
Lender, be otherwise disadvantageous to such Lender.

                  SECTION 2.15. Sharing of Payments, Etc. If any Lender shall
obtain any payment (whether voluntary, involuntary, through the exercise of any
right of set-off, or otherwise) on account of the Revolving Credit Advances
owing to it (other than pursuant to Section 2.11, 2.14 or 9.04(c)) in excess of
its ratable share of payments on account of the Revolving Credit Advances
obtained by all the Lenders, such Lender shall forthwith purchase from the other
Lenders such participations in the Revolving Credit Advances owing to them as
shall be necessary to cause such purchasing Lender to share the excess payment
ratably with each of them; provided, however, that if all or any portion of such
excess payment is thereafter recovered from such purchasing Lender, such
purchase from each Lender shall be rescinded and such Lender shall repay to the
purchasing Lender the purchase price to the extent of such recovery together
with an amount equal to such Lender's ratable share (according to the proportion
of (i) the amount of such Lender's required repayment to (ii) the total amount
so recovered from the purchasing Lender) of any interest or other amount paid or
payable by the purchasing Lender in respect of the total amount so recovered.
The Borrower agrees that any Lender so purchasing a participation from another
Lender pursuant to this Section 2.15 may, to the fullest extent permitted by
law, exercise all its rights of payment (including the right of set-off) with
respect to such participation as fully as if such Lender were the direct
creditor of the Borrower in the amount of such participation.

                  SECTION 2.16. Evidence of Debt. (a) Each Lender shall maintain
in accordance with its usual practice an account or accounts evidencing the
indebtedness of the Borrower to such Lender resulting from each Revolving Credit
Advance owing to such Lender from time to time, including the amounts of
principal and interest payable and paid to such Lender from time to time
hereunder in respect of Revolving Credit Advances. The Borrower agrees that upon
notice by any Lender to the Borrower (with a copy of such notice to the Agent)
to the effect that a Revolving Credit Note is required or appropriate in order
for such Lender to evidence (whether for purposes of pledge, enforcement or
otherwise) the Revolving Credit Advances owing to, or to be made by, such
Lender, the Borrower shall promptly execute and deliver to such Lender a
Revolving Credit Note payable to the order of such Lender in a principal amount
up to the Commitment of such Lender.

                  (b) The Register maintained by the Agent pursuant to Section
9.07(d) shall include a control account, and a subsidiary account for each
Lender, in which accounts (taken together) shall be recorded (i) the date and
amount of each Borrowing made hereunder, the Type of Advances comprising such
Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the
terms of each Assumption Agreement and each Assignment and Acceptance delivered
to and accepted by it, (iii) the amount of any principal or interest due and
payable or to become due and payable from the Borrower to each Lender hereunder
and (iv) the amount of any sum received by the Agent from the Borrower hereunder
and each Lender's share thereof.

                  (c) Entries made in good faith by the Agent in the Register
pursuant to subsection (b) above, and by each Lender in its account or accounts
pursuant to subsection (a) above, shall be prima facie evidence of the amount of
principal and interest due and payable or to become due and payable from the
Borrower to, in the case of the Register, each Lender and, in the case of such
account or accounts, such Lender, under this Agreement, absent manifest error;
provided, however, that the failure of the Agent or such Lender to make an
entry, or any finding that an entry is incorrect, in the Register or such
account or accounts shall not limit or otherwise affect the obligations of the
Borrower under this Agreement.

<PAGE>
                                       23

                  SECTION 2.17. Use of Proceeds. The proceeds of the Advances
shall be available (and the Borrower agrees that it shall use such proceeds) for
general corporate purposes of the Borrower and its Subsidiaries, including
commercial paper backstop.

                  SECTION 2.18. Increase in the Aggregate Commitments. (a) The
Borrower may, at any time but in any event not more than once in any calendar
year prior to the Termination Date, by notice to the Agent, request that the
aggregate amount of the Commitment be increased by a minimum amount of
$25,000,000 (each a "Commitment Increase") to be effective as of a date that is
at least 90 days prior to the scheduled Termination Date then in effect (the
"Increase Date") as specified in the related notice to the Agent; provided,
however that (i) in no event shall the aggregate amount of the Commitments at
any time exceed $150,000,000 and (ii) on the date of any request by the Borrower
for a Commitment Increase and on the related Increase Date, the Borrower's Debt
Ratings are at least BBB+ from S&P or Baa3 from Moody's, or if no Debt Rating is
available from S&P or Moody's, the Guarantor's Net Worth is not less than
$1,000,000,000 and Debt/Total Capital Ratio is not more than 0.45:1.00, and the
applicable conditions set forth in Article III shall be satisfied.

                  (b) The Agent shall promptly notify the Lenders of a request
by the Borrower for a Commitment Increase, which notice shall include (i) the
proposed amount of such requested Commitment Increase, (ii) the proposed
Increase Date and (iii) the date by which Lenders wishing to participate in the
Commitment Increase must commit to an increase in the amount of their respective
Commitments (the "Commitment Date"). Each Lender that is willing to participate
in such requested Commitment Increase (each an "Increasing Lender") shall, in
its sole discretion, give written notice to the Agent on or prior to the
Commitment Date of the amount by which it is willing to increase its Commitment.
If the Lenders notify the Agent that they are willing to increase the amount of
their respective Commitments by an aggregate amount that exceeds the amount of
the requested Commitment Increase, the requested Commitment Increase shall be
allocated among the Lenders willing to participate therein in such amounts as
are agreed between the Borrower and the Agent.

                  (c) Promptly following each Commitment Date, the Agent shall
notify the Borrower as to the amount, if any, by which the Lenders are willing
to participate in the requested Commitment Increase. If the aggregate amount by
which the Lenders are willing to participate in any requested Commitment
Increase on any such Commitment Date is less than the requested Commitment
Increase, then the Borrower may extend offers to one or more Eligible Assignees
to participate in any portion of the requested Commitment Increase that has not
been committed to by the Lenders as of the applicable Commitment Date; provided,
however, that the Commitment of each such Eligible Assignee shall be in a
minimum amount of $5,000,000.

                  (d) On each Increase Date, each Eligible Assignee that accepts
an offer to participate in a requested Commitment Increase in accordance with
Section 2.18(c) (each such Eligible Assignee and each Eligible Assignee that
agrees to an extension of the Termination Date in accordance with Section
2.19(c), an "Assuming Lender") shall become a Lender party to this Agreement as
of such Increase Date and the Commitment of each Increasing Lender for such
requested Commitment Increase shall be so increased by such amount (or by the
amount allocated to such Lender pursuant to the last sentence of Section
2.18(b)) as of such Increase Date; provided, however, that the Agent shall have
received on or before such Increase Date the following, each dated such date:

                  (i) (A) certified copies of resolutions of the Board of
          Directors of the Borrower or the Executive Committee of such Board
          approving the Commitment Increase and the corresponding modifications
          to this Agreement, (B) an opinion of counsel for the Borrower (which
          may be in-house counsel), in substantially the form of Exhibit D
          hereto and (C) a consent of the Guarantor approving the Commitment
          Increase and the corresponding modifications to this Agreement;
<PAGE>
                                       24

                  (ii) an assumption agreement from each Assuming Lender, if
         any, in form and substance satisfactory to the Borrower and the Agent
         (each an "Assumption Agreement"), duly executed by such Eligible
         Assignee, the Agent and the Borrower;

                  (iii) confirmation from each Increasing Lender of the increase
         in the amount of its Commitment in a writing satisfactory to the
         Borrower and the Agent; and

                  (iv) if any Revolving Credit Advances are then outstanding, a
         Notice of Revolving Credit Borrowing for Advances to be made by only
         the Increasing Lenders and the Assuming Lenders under this Section 2.18
         in an aggregate amount equal to the amount which, after giving effect
         to such Advances, will result in the aggregate Revolving Credit
         Advances made by all Lenders to be ratable in proportion to their
         respective Commitments after giving effect to such Commitment Increase,
         and of a Type and for an Interest Period which will, to the extent
         practicable, result in each Lender having funded Advances of the same
         Type and for co-terminus Interest Periods.

On each Increase Date, upon fulfillment of the conditions set forth in the
immediately preceding sentence of this Section 2.18(d), the Agent shall notify
the Lenders (including, without limitation, each Assuming Lender) and the
Borrower, on or before 1:00 P.M. (New York City time), by telecopier or telex,
of the occurrence of the Commitment Increase to be effected on such Increase
Date and shall record in the Register the relevant information with respect to
each Increasing Lender and each Assuming Lender on such date.

                  SECTION 2.19. Extension of Termination Date. (a) At least 45
days but not more than 60 days prior to the Termination Date, the Borrower, by
written notice to the Agent, may request an extension of the Termination Date in
effect at such time by one year from its then scheduled expiration. The Agent
shall promptly notify each Lender of such request, and each Lender shall in
turn, in its sole discretion, not later than 20 days prior to the Termination
Date, notify the Borrower and the Agent in writing as to whether such Lender
will consent to such extension. If any Lender shall fail to notify the Agent and
the Borrower in writing of its consent to any such request for extension of the
Termination Date at least 20 days prior to the Termination Date, such Lender
shall be deemed to be a Non-Consenting Lender with respect to such request. The
Agent shall notify the Borrower not later than 15 days prior to the Termination
Date of the decision of the Lenders regarding the Borrower's request for an
extension of the Termination Date.

                  (b) If all the Lenders consent in writing to any such request
in accordance with subsection (a) of this Section 2.19, the Termination Date in
effect at such time shall, effective as at the Termination Date (the "Extension
Date"), be extended for one year; provided that on each Extension Date the
applicable conditions set forth in Article III shall be satisfied. If less than
all of the Lenders consent in writing to any such request in accordance with
subsection (a) of this Section 2.19, the Termination Date in effect at such time
shall, effective as at the applicable Extension Date and subject to subsection
(d) of this Section 2.19, be extended as to those Lenders that so consented
(each a "Consenting Lender") but shall not be extended as to any other Lender
(each a "Non-Consenting Lender"). To the extent that the Termination Date is not
extended as to any Lender pursuant to this Section 2.19 and the Commitment of
such Lender is not assumed in accordance with subsection (c) of this Section
2.19 on or prior to the applicable Extension Date, the Commitment of such
Non-Consenting Lender shall automatically terminate in whole on such unextended
Termination Date without any further notice or other action by the Borrower,
such Lender or any other Person; provided that such Non-Consenting Lender's
rights under Sections 2.11, 2.14 and 9.04, and its obligations under Section
8.05, shall survive the Termination Date for such Lender as to matters occurring
prior to such date. It is understood and agreed that no Lender shall have any
obligation whatsoever to agree to any request made by the Borrower for any
requested extension of the Termination Date.

                  (c) If less than all of the Lenders consent to any such
request pursuant to subsection (a) of this Section 2.19, the Agent shall
promptly so notify the Consenting Lenders, and each Consenting Lender may, in
its sole
<PAGE>
                                       25

discretion, give written notice to the Agent not later than 10 days prior to the
Termination Date of the amount of the Non-Consenting Lenders' Commitments for
which it is willing to accept an assignment. If the Consenting Lenders notify
the Agent that they are willing to accept assignments of Commitments in an
aggregate amount that exceeds the amount of the Commitments of the
Non-Consenting Lenders, such Commitments shall be allocated among the Consenting
Lenders willing to accept such assignments in such amounts as are agreed between
the Borrower and the Agent. If after giving effect to the assignments of
Commitments described above there remains any Commitments of Non-Consenting
Lenders, the Borrower may arrange for one or more Consenting Lenders or other
Eligible Assignees as Assuming Lenders to assume, effective as of the Extension
Date, any Non-Consenting Lender's Commitment and all of the obligations of such
Non-Consenting Lender under this Agreement thereafter arising, without recourse
to or warranty by, or expense to, such Non-Consenting Lender; provided, however,
that the amount of the Commitment of any such Assuming Lender as a result of
such substitution shall in no event be less than $5,000,000 unless the amount of
the Commitment of such Non-Consenting Lender is less than $5,000,000, in which
case such Assuming Lender shall assume all of such lesser amount; and provided
further that:

                  (i) any such Consenting Lender or Assuming Lender shall have
         paid to such Non-Consenting Lender (A) the aggregate principal amount
         of, and any interest accrued and unpaid to the effective date of the
         assignment on, the outstanding Advances, if any, of such Non-Consenting
         Lender plus (B) any accrued but unpaid facility fees owing to such
         Non-Consenting Lender as of the effective date of such assignment;

                  (ii) all additional costs reimbursements, expense
         reimbursements and indemnities payable to such Non-Consenting Lender,
         and all other accrued and unpaid amounts owing to such Non-Consenting
         Lender hereunder, as of the effective date of such assignment shall
         have been paid to such Non-Consenting Lender; and

                  (iii) with respect to any such Assuming Lender, the applicable
         processing and recordation fee required under Section 9.07(a) for such
         assignment shall have been paid;

provided further that such Non-Consenting Lender's rights under Sections 2.11,
2.14 and 9.04, and its obligations under Section 8.05, shall survive such
substitution as to matters occurring prior to the date of substitution. At least
three Business Days prior to any Extension Date, (A) each such Assuming Lender,
if any, shall have delivered to the Borrower and the Agent an Assumption
Agreement, duly executed by such Assuming Lender, such Non-Consenting Lender,
the Borrower and the Agent, (B) any such Consenting Lender shall have delivered
confirmation in writing satisfactory to the Borrower and the Agent as to the
increase in the amount of its Commitment and (C) each Non-Consenting Lender
being replaced pursuant to this Section 2.19 shall have delivered to the Agent
any Note or Notes held by such Non-Consenting Lender. Upon the payment or
prepayment of all amounts referred to in clauses (i), (ii) and (iii) of the
immediately preceding sentence, each such Consenting Lender or Assuming Lender,
as of the Extension Date, will be substituted for such Non-Consenting Lender
under this Agreement and shall be a Lender for all purposes of this Agreement,
without any further acknowledgment by or the consent of the other Lenders, and
the obligations of each such Non-Consenting Lender hereunder shall, by the
provisions hereof, be released and discharged.

                  (d) If (after giving effect to any assignments or assumptions
pursuant to subsection (c) of this Section 2.19) Lenders having Commitments
equal to more than 50% of the Commitments in effect immediately prior to the
Extension Date consent in writing to a requested extension (whether by execution
or delivery of an Assumption Agreement or otherwise) not later than one Business
Day prior to such Extension Date, the Agent shall so notify the Borrower, and,
subject to the satisfaction of the applicable conditions in Article III, the
Termination Date then in effect shall be extended for the additional one-year
period as described in subsection (a) of this Section 2.19, and all references
in this Agreement, and in the Notes, if any, to the "Termination Date" shall,
with respect to each Consenting Lender and each Assuming Lender for such
Extension Date, refer to the Termination Date as so extended. Promptly following
each Extension Date, the Agent shall notify the Lenders (including, without
limitation, each Assuming Lender) of the
<PAGE>
                                       26

extension of the scheduled Termination Date in effect immediately prior thereto
and shall thereupon record in the Register the relevant information with respect
to each such Consenting Lender and each such Assuming Lender.

                                   ARTICLE III

                     CONDITIONS TO EFFECTIVENESS AND LENDING

                  SECTION 3.01. Conditions Precedent to Effectiveness of
Sections 2.01 and 2.03. Sections 2.01 and 2.03 of this Agreement shall become
effective on and as of the first date (the "Effective Date") on which the
following conditions precedent have been satisfied:

                  (a) There shall have occurred no Material Adverse Change since
         June 30, 1999.

                  (b) There shall exist no action, suit, investigation,
         litigation or proceeding affecting the Guarantor or any of its
         Subsidiaries pending or threatened before any court, governmental
         agency or arbitrator that (i) could be reasonably likely to have a
         Material Adverse Effect other than the matters described on Schedule
         3.01(b) hereto (the "Disclosed Litigation") or (ii) purports to affect
         the legality, validity or enforceability of this Agreement or any Note
         or the consummation of the transactions contemplated hereby.

                  (c) All governmental and third party consents and approvals
         necessary in connection with the transactions contemplated hereby shall
         have been obtained (without the imposition of any conditions that are
         not acceptable to the Lenders) and shall remain in effect.

                  (d) The Borrower shall have notified each Lender and the Agent
         in writing as to the proposed Effective Date.

                  (e) The Borrower shall have paid all accrued fees and expenses
         of the Agent and the Lenders (including the accrued fees and expenses
         of counsel to the Agent).

                  (f) On the Effective Date, the following statements shall be
         true and the Agent shall have received for the account of each Lender a
         certificate signed by a duly authorized officer of the Borrower, dated
         the Effective Date, stating that:

                           (i) The representations and warranties contained in
                  Section 4.01 are correct on and as of the Effective Date, and

                           (ii) No event has occurred and is continuing that
                  constitutes a Default.

                  (g) The Agent shall have received on or before the Effective
         Date the following, each dated such day, in form and substance
         satisfactory to the Agent and (except for the Revolving Credit Notes)
         in sufficient copies for each Lender:

                           (i) The Revolving Credit Notes to the order of the
                  Lenders to the extent requested by any Lender pursuant to
                  Section 2.16.

                           (ii) Certified copies of the resolutions of the Board
                  of Directors of the Borrower approving this Agreement and the
                  Notes, and of all documents evidencing other necessary
                  corporate action and governmental approvals, if any, with
                  respect to this Agreement and the Notes.

<PAGE>
                                       27

                           (iii) Certified copies of the resolutions of the
                  Board of Directors of the Guarantor approving this Agreement,
                  and of all documents evidencing other necessary corporate
                  action and governmental approvals, if any, with respect to
                  this Agreement.

                           (iv) A certificate of the Secretary or an Assistant
                  Secretary of the Borrower certifying the names and true
                  signatures of the officers of the Borrower authorized to sign
                  this Agreement and the Notes and the other documents to be
                  delivered by it hereunder.

                           (v) A certificate of the Secretary or an Assistant
                  Secretary of the Guarantor certifying the names and true
                  signatures of the officers of the Guarantor authorized to sign
                  this Agreement and the other documents to be delivered by it
                  hereunder.

                           (vi) A favorable opinion of Thomas Livingston,
                  counsel for the Borrower and the Guarantor, substantially in
                  the form of Exhibit D hereto and as to such other matters as
                  any Lender through the Agent may reasonably request.

                           (vii) A favorable opinion of Shearman & Sterling,
                  counsel for the Agent, in form and substance satisfactory to
                  the Agent.

                  (h) The Borrower shall have terminated the commitments of the
         lenders, and repaid or prepaid all outstanding obligations under, the
         $100,000,000 Five-Year Credit Agreement dated as of June 1, 1994, as
         amended, among the Borrower, the banks parties thereto and Morgan
         Guaranty Trust Company of New York, as agent, and each of the Lenders
         that is a party to such Five-Year Credit Agreement hereby waives the
         requirement of Section 2.09(i) of such Five-Year Credit Agreement to
         the extent that such provision requires three days notice to terminate
         the commitments of the lenders under such Five-Year Credit Agreement.

                  SECTION 3.02. Conditions Precedent to Each Revolving Credit
Borrowing, Increase Date and Extension Date. The obligation of each Lender to
make a Revolving Credit Advance on the occasion of each Revolving Credit
Borrowing, each Commitment Increase and each extension of Commitments pursuant
to Section 2.19 shall be subject to the conditions precedent that the Effective
Date shall have occurred and on the date of such Revolving Credit Borrowing the
applicable Increase Date or the applicable Extension Date (a) the following
statements shall be true (and each of the giving of the applicable Notice of
Revolving Credit Borrowing, request for Commitment Increase, request for
Commitment Extension and the acceptance by the Borrower of the proceeds of such
Revolving Credit Borrowing shall constitute a representation and warranty by the
Borrower that on the date of such Borrowing, such Increase Date or such
Extension Date such statements are true):

                  (i) the representations and warranties contained in Section
         4.01 (except the representations set forth in the last sentence of
         subsection (e) thereof and in subsection (f)(i) thereof) are correct on
         and as of such date, before and after giving effect to such Revolving
         Credit Borrowing, such Increase Date or such Extension Date and to the
         application of the proceeds therefrom, as though made on and as of such
         date, and

                  (ii) no event has occurred and is continuing, or would result
         from such Revolving Credit Borrowing, such Increase Date, such
         Extension Date or from the application of the proceeds therefrom, that
         constitutes a Default;

and (b) the Agent shall have received such other approvals, opinions or
documents as any Lender through the Agent may reasonably request.

<PAGE>
                                       28

                  SECTION 3.03. Conditions Precedent to Each Competitive Bid
Borrowing. The obligation of each Lender that is to make a Competitive Bid
Advance on the occasion of a Competitive Bid Borrowing to make such Competitive
Bid Advance as part of such Competitive Bid Borrowing is subject to the
conditions precedent that (i) the Agent shall have received the written
confirmatory Notice of Competitive Bid Borrowing with respect thereto, (ii) on
or before the date of such Competitive Bid Borrowing, but prior to such
Competitive Bid Borrowing, the Agent shall have received a Competitive Bid Note
payable to the order of such Lender for each of the one or more Competitive Bid
Advances to be made by such Lender as part of such Competitive Bid Borrowing, in
a principal amount equal to the principal amount of the Competitive Bid Advance
to be evidenced thereby and otherwise on such terms as were agreed to for such
Competitive Bid Advance in accordance with Section 2.03, and (iii) on the date
of such Competitive Bid Borrowing the following statements shall be true (and
each of the giving of the applicable Notice of Competitive Bid Borrowing and the
acceptance by the Borrower of the proceeds of such Competitive Bid Borrowing
shall constitute a representation and warranty by the Borrower that on the date
of such Competitive Bid Borrowing such statements are true):

                  (a) the representations and warranties contained in Section
         4.01 (except the representations set forth in the last sentence of
         subsection (e) thereof and in subsection (f)(i) thereof) are correct on
         and as of the date of such Competitive Bid Borrowing, before and after
         giving effect to such Competitive Bid Borrowing and to the application
         of the proceeds therefrom, as though made on and as of such date, and

                  (b) no event has occurred and is continuing, or would result
         from such Competitive Bid Borrowing or from the application of the
         proceeds therefrom, that constitutes a Default.

                  SECTION 3.04. Determinations Under Section 3.01. For purposes
of determining compliance with the conditions specified in Section 3.01, each
Lender shall be deemed to have consented to, approved or accepted or to be
satisfied with each document, condition or other matter required thereunder to
be consented to or approved by or acceptable or satisfactory to the Lenders
unless an officer of the Agent responsible for the transactions contemplated by
this Agreement shall have received notice from such Lender prior to the date
that the Borrower, by notice to the Lenders, designates as the proposed
Effective Date, specifying its objection thereto. The Agent shall promptly
notify the Lenders of the occurrence of the Effective Date.

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

                  SECTION 4.01. Representations and Warranties of the Borrower
and the Guarantor. The Borrower and the Guarantor each represents and warrants
as follows:

                  (a) The Borrower is a corporation duly organized, validly
         existing and in good standing under the laws of the State of New York.
         The Guarantor is a corporation duly organized, validly existing and in
         good standing under the laws of the State of Delaware.

                  (b) The execution, delivery and performance by the Borrower of
         this Agreement and the Notes to be delivered by it, and the
         consummation of the transactions contemplated hereby, are within the
         Borrower's corporate powers, have been duly authorized by all necessary
         corporate action, and do not contravene (i) the Borrower's charter or
         by-laws or (ii) law or any contractual restriction binding on or
         affecting the Borrower. The execution, delivery and performance by the
         Guarantor of this Agreement, and the consummation of the transactions
         contemplated hereby, are within the Guarantor's corporate powers, have
         been duly authorized by

<PAGE>
                                       29

         all necessary corporate action, and do not contravene (i) the
         Guarantor's charter or by-laws or (ii) law or any contractual
         restriction binding on or affecting the Guarantor.

                  (c) No authorization or approval or other action by, and no
         notice to or filing with, any governmental authority or regulatory body
         or any other third party is required for the due execution, delivery
         and performance by the Borrower or the Guarantor of this Agreement or,
         in the case of the Borrower, the Notes to be delivered by it.

                  (d) This Agreement has been, and each of the Notes to be
         delivered by it when delivered hereunder will have been, duly executed
         and delivered by the Borrower and this Agreement has been duly executed
         and delivered by the Guarantor. This Agreement is, and each of the
         Notes when delivered hereunder will be, the legal, valid and binding
         obligation of the Borrower enforceable against the Borrower in
         accordance with their respective terms and this Agreement is the legal,
         valid and binding obligation of the Guarantor enforceable against the
         Guarantor in accordance with its terms; except, in each case, as
         enforceability may be limited by applicable bankruptcy, insolvency,
         reorganization, moratorium or similar laws affecting the enforcement of
         creditors' rights generally and by general equitable principals
         (whether enforcement is sought by proceedings in equity or at law).

                  (e) The Consolidated balance sheet of the Guarantor and its
         Subsidiaries as at June 30, 1999, and the related Consolidated
         statements of income and cash flows of the Guarantor and its
         Subsidiaries for the fiscal year then ended, accompanied by an opinion
         of PricewaterhouseCoopers LLP, independent public accountants, and the
         Consolidated balance sheet of the Guarantor and its Subsidiaries as at
         December 31, 1999, and the related Consolidated statements of income
         and cash flows of the Guarantor and its Subsidiaries for the six months
         then ended, duly certified by the chief financial officer or chief
         accounting officer of the Guarantor, copies of which have been
         furnished to each Lender, fairly present, subject, in the case of said
         balance sheet as at December 31, 1999, and said statements of income
         and cash flows for the six months then ended, to year-end audit
         adjustments, the Consolidated financial condition of the Guarantor and
         its Subsidiaries as at such dates and the Consolidated results of the
         operations of the Guarantor and its Subsidiaries for the periods ended
         on such dates, all in accordance with generally accepted accounting
         principles consistently applied. Since June 30, 1999, there has been no
         Material Adverse Change.

                  (f) There is no pending or threatened action, suit,
         investigation, litigation or proceeding, including, without limitation,
         any Environmental Action, affecting the Guarantor or any of its
         Subsidiaries before any court, governmental agency or arbitrator that
         (i) could be reasonably likely to have a Material Adverse Effect (other
         than the Disclosed Litigation) or (ii) purports to affect the legality,
         validity or enforceability of this Agreement or any Note.

                  (g) Following application of the proceeds of each Advance, not
         more than 25 percent of the value of the assets (the Guarantor and its
         Subsidiaries on a Consolidated basis) subject to the provisions of
         Section 5.02(a) or subject to any restriction contained in any
         agreement or instrument between the Guarantor and any Lender or any
         Affiliate of any Lender relating to Debt and within the scope of
         Section 6.01(d) will be margin stock (within the meaning of Regulation
         U issued by the Board of Governors of the Federal Reserve System).

                  (h) Neither the Borrower nor the Guarantor is an "investment
         company", or a company "controlled" by an "investment company", within
         the meaning of the Investment Company Act of 1940, as amended.

<PAGE>
                                       30

                                    ARTICLE V

                           COVENANTS OF THE GUARANTOR

                  SECTION  5.01. Affirmative Covenants. So long as any Advance
shall remain unpaid or any Lender shall have any Commitment hereunder, the
Guarantor will:

                  (a) Compliance with Laws, Etc. Comply, and cause each of its
         Subsidiaries to comply, in all material respects, with all applicable
         laws, rules, regulations and orders, such compliance to include,
         without limitation, compliance with ERISA and Environmental Laws.

                  (b) Payment of Taxes, Etc. Pay and discharge, and cause each
         of its Subsidiaries to pay and discharge, before the same shall become
         delinquent, (i) all taxes, assessments and governmental charges or
         levies imposed upon it or upon its property and (ii) all lawful claims
         that, if unpaid, might by law become a Lien upon its property;
         provided, however, that neither the Guarantor nor any of its
         Subsidiaries shall be required to pay or discharge any such tax,
         assessment, charge or claim that is being contested in good faith and
         by proper proceedings and as to which appropriate reserves are being
         maintained.

                  (c) Maintenance of Insurance. Maintain, and cause each of its
         Subsidiaries to maintain, insurance with responsible and reputable
         insurance companies or associations in such amounts and covering such
         risks as is usually carried by companies engaged in similar businesses
         and owning similar properties in the same general areas in which the
         Guarantor or such Subsidiary operates; provided, however, that the
         Guarantor and its Subsidiaries may self-insure to the same extent as
         other companies engaged in similar businesses and owning similar
         properties in the same general areas in which the Guarantor or such
         Subsidiary operates and to the extent consistent with prudent business
         practice.

                  (d) Preservation of Corporate Existence, Etc. Preserve and
         maintain, and cause each of its Subsidiaries to preserve and maintain,
         its corporate existence, rights (charter and statutory) and franchises;
         provided, however, that the Guarantor and its Subsidiaries may
         consummate any merger or consolidation permitted under Section 5.02(b)
         and provided further that neither the Guarantor nor any of its
         Subsidiaries shall be required to preserve any right or franchise if
         the Board of Directors of the Guarantor or such Subsidiary shall
         determine that the preservation thereof is no longer desirable in the
         conduct of the business of the Guarantor or such Subsidiary, as the
         case may be, and that the loss thereof is not disadvantageous in any
         material respect to the Guarantor and its Subsidiaries taken as a
         whole.

                  (e) Visitation Rights. At any reasonable time and from time to
         time, permit the Agent or any of the Lenders or any agents or
         representatives thereof, to examine and make copies of and abstracts
         from the records and books of account of, and visit the properties of,
         the Guarantor and any of its Subsidiaries, and to discuss the affairs,
         finances and accounts of the Guarantor and any of its Subsidiaries with
         any of their officers or directors and with their independent certified
         public accountants.

                  (f) Keeping of Books. Keep, and cause each of its Subsidiaries
         to keep, proper books of record and account, in which full and correct
         entries shall be made of all financial transactions and the assets and
         business of the Guarantor and each such Subsidiary in accordance with
         generally accepted accounting principles in effect from time to time.

                  (g) Maintenance of Properties, Etc. Maintain and preserve, and
         cause each of its Subsidiaries to maintain and preserve, all of its
         properties that are used or useful in the conduct of its business in
         good working order and condition, ordinary wear and tear excepted.

<PAGE>
                                       31

                  (h) Reporting  Requirements. Furnish to the Lenders (which, to
         the extent any of the following are publically filed with the
         Securities and Exchange Commission in electronic format (EDGAR), shall
         be deemed so furnished upon such filing):

                           (i) as soon as available and in any event within 60
                  days after the end of each of the first three quarters of each
                  fiscal year of the Guarantor, the Consolidated balance sheet
                  of the Guarantor and its Subsidiaries as of the end of such
                  quarter and Consolidated statements of income and cash flows
                  of the Guarantor and its Subsidiaries for the period
                  commencing at the end of the previous fiscal year and ending
                  with the end of such quarter, duly certified (subject to
                  year-end audit adjustments) by the chief financial officer of
                  the Guarantor as having been prepared in accordance with
                  generally accepted accounting principles and certificates of
                  the chief financial officer or chief accounting officer of the
                  Guarantor as to compliance with the terms of this Agreement
                  and setting forth in reasonable detail the calculations
                  necessary to demonstrate compliance with Section 5.03,
                  provided that in the event of any change in GAAP used in the
                  preparation of such financial statements, the Guarantor shall
                  also provide, if necessary for the determination of compliance
                  with Section 5.03, a statement of reconciliation conforming
                  such financial statements to GAAP;

                           (ii) as soon as available and in any event within 100
                  days after the end of each fiscal year of the Guarantor, a
                  copy of the annual report for such year for the Guarantor and
                  its Subsidiaries, containing the audited Consolidated balance
                  sheet of the Guarantor and its Subsidiaries as of the end of
                  such fiscal year and audited Consolidated statements of income
                  and cash flows of the Guarantor and its Subsidiaries for such
                  fiscal year, in each case accompanied by a report of
                  PricewaterhouseCoopers LLP or other independent public
                  accountants of nationally recognized standing, provided that
                  in the event of any change in GAAP used in the preparation of
                  such financial statements, the Guarantor shall also provide,
                  if necessary for the determination of compliance with Section
                  5.03, a statement of reconciliation conforming such financial
                  statements to GAAP;

                           (iii) as soon as possible and in any event within
                  five Business Days after the occurrence of each Default
                  continuing on the date of such statement, a statement of the
                  chief financial officer or chief accounting officer of the
                  Borrower or the Guarantor setting forth details of such
                  Default and the action that the Borrower or the Guarantor has
                  taken and proposes to take with respect thereto;

                           (iv) promptly after the sending or filing thereof,
                  copies of all reports that the Guarantor sends to any of its
                  public securityholders, and copies of all reports that the
                  Guarantor or any Subsidiary files with the Securities and
                  Exchange Commission;

                           (v) promptly after the commencement thereof, notice
                  of all actions and proceedings before any court, governmental
                  agency or arbitrator affecting the Guarantor or any of its
                  Subsidiaries of the type described in Section 4.01(f)(ii);

                           (vi) so long as no Public Debt Rating is then in
                  effect, within five Business Days after receipt thereof by the
                  Guarantor, copies of each notice from S&P (or Moody's, if S&P
                  has ceased to provide the Implied Debt Rating) indicating any
                  change in the Implied Debt Rating; and

                           (vii) such other information respecting the Guarantor
                  or any of its Subsidiaries as any Lender through the Agent may
                  from time to time reasonably request.

                  SECTION  5.02. Negative  Covenants. So long as any Advance
shall remain unpaid or any Lender shall have any Commitment hereunder, the
Guarantor will not:

<PAGE>
                                       32

                  (a) Liens, Etc. Create or suffer to exist, or permit any of
         its Subsidiaries to create or suffer to exist, any Lien on or with
         respect to any of its properties, whether now owned or hereafter
         acquired, or assign, or permit any of its Subsidiaries to assign, any
         right to receive income, other than:

                           (i) Permitted Liens,

                           (ii) purchase money Liens upon or in any fixed or
                  capital assets acquired or held by the Guarantor or any
                  Subsidiary in the ordinary course of business to secure the
                  purchase price of such assets or to secure Debt incurred for
                  the purpose of financing the acquisition of such assets, or
                  Liens existing on such assets at the time of its acquisition
                  (other than any such Liens created in contemplation of such
                  acquisition that were not incurred to finance the acquisition
                  of such assets) or extensions, renewals or replacements of any
                  of the foregoing for the same or a lesser amount, provided,
                  however, that no such Lien shall extend to or cover any assets
                  of any character other than the assets being acquired, and no
                  such extension, renewal or replacement shall extend to or
                  cover any properties not theretofore subject to the Lien being
                  extended, renewed or replaced, provided further that the
                  aggregate principal amount of the indebtedness secured by the
                  Liens referred to in this clause (ii) shall not exceed
                  $50,000,000 at any time outstanding,

                           (iii) the Liens existing on the Effective Date and
                  described on Schedule 5.02(a) hereto,

                           (iv) other Liens securing Debt in an aggregate
                  principal amount not to exceed at any time outstanding an
                  amount equal to 5% of the Consolidated assets of the Guarantor
                  and its Subsidiaries at the time of incurrence, and

                           (v) the replacement, extension or renewal of any Lien
                  permitted by clause (iii) or (iv) above upon or in the same
                  property theretofore subject thereto or the replacement,
                  extension or renewal (without increase in the amount or change
                  in any direct or contingent obligor) of the Debt secured
                  thereby.

                  (b) Mergers, Etc. Merge or consolidate with or into, or
         convey, transfer, lease or otherwise dispose of (whether in one
         transaction or in a series of transactions) all or substantially all of
         its assets (whether now owned or hereafter acquired) to, any Person, or
         permit any of its Subsidiaries to do so, except that any Subsidiary of
         the Guarantor may merge or consolidate with or into, or dispose of
         assets to, any other Subsidiary of the Guarantor, and except that any
         Subsidiary of the Guarantor may merge into or dispose of assets to the
         Guarantor and the Guarantor may merge with any other Person so long as
         the Guarantor is the surviving corporation, provided, in each case,
         that no Default shall have occurred and be continuing at the time of
         such proposed transaction or would result therefrom.

                  SECTION  5.03. Financial Covenants. So long as any Advance
shall remain unpaid or any Lender shall have any Commitment hereunder, the
Guarantor will:

                  (a) Net Worth. Maintain Net Worth of not less than
         $900,000,000.

                  (b) Debt/Total Capital Ratio. Maintain a Debt/Total Capital
         Ratio of not more than 0.50:1.00.

<PAGE>
                                       33

                                   ARTICLE VI

                                EVENTS OF DEFAULT

                  SECTION 6.01. Events of Default. If any of the following
events ("Events of Default") shall occur and be continuing:

                  (a) The Borrower shall fail to pay any principal of any
         Advance when the same becomes due and payable; or the Borrower shall
         fail to pay any interest on any Advance or make any other payment of
         fees or other amounts payable under this Agreement or any Note within
         five Business Days after the same becomes due and payable; or

                  (b) Any representation or warranty made by the Borrower or the
         Guarantor herein or by the Borrower or the Guarantor (or any of their
         respective officers) in connection with this Agreement shall prove to
         have been incorrect in any material respect when made; or

                  (c) (i) The Guarantor shall fail to perform or observe any
         term, covenant or agreement contained in Section 5.01(d), 5.01(h)(iii),
         5.01(h)(v), 5.01(h)(vi), 5.02 or 5.03, or (ii) the Guarantor shall fail
         to perform or observe any other term, covenant or agreement contained
         in this Agreement on its part to be performed or observed if such
         failure shall remain unremedied for 30 days after written notice
         thereof shall have been given to the Guarantor by the Agent or any
         Lender; or

                  (d) The Guarantor or any of its Subsidiaries shall fail to pay
         any principal of or premium or interest on any Debt that is outstanding
         in a principal or notional amount of at least $50,000,000 in the
         aggregate (but excluding Debt outstanding hereunder) of the Guarantor
         or such Subsidiary (as the case may be), when the same becomes due and
         payable (whether by scheduled maturity, required prepayment,
         acceleration, demand or otherwise), and such failure shall continue
         after the applicable grace period, if any, specified in the agreement
         or instrument relating to such Debt; or any other event shall occur or
         condition shall exist under any agreement or instrument relating to any
         such Debt and shall continue after the applicable grace period, if any,
         specified in such agreement or instrument, if the effect of such event
         or condition is to accelerate, or to permit the acceleration of, the
         maturity of such Debt; or any such Debt shall be declared to be due and
         payable, or required to be prepaid or redeemed (other than by a
         regularly scheduled required prepayment or redemption), purchased or
         defeased, or an offer to prepay, redeem, purchase or defease such Debt
         shall be required to be made, in each case prior to the stated maturity
         thereof; or

                  (e) The Guarantor or any of its Subsidiaries shall generally
         not pay its debts as such debts become due, or shall admit in writing
         its inability to pay its debts generally, or shall make a general
         assignment for the benefit of creditors; or any proceeding shall be
         instituted by or against the Guarantor or any of its Subsidiaries
         seeking to adjudicate it a bankrupt or insolvent, or seeking
         liquidation, winding up, reorganization, arrangement, adjustment,
         protection, relief, or composition of it or its debts under any law
         relating to bankruptcy, insolvency or reorganization or relief of
         debtors, or seeking the entry of an order for relief or the appointment
         of a receiver, trustee, custodian or other similar official for it or
         for any substantial part of its property and, in the case of any such
         proceeding instituted against it (but not instituted by it), either
         such proceeding shall remain undismissed or unstayed for a period of 60
         days, or any of the actions sought in such proceeding (including,
         without limitation, the entry of an order for relief against, or the
         appointment of a receiver, trustee, custodian or other similar official
         for, it or for any substantial part of its property) shall occur; or
         the Guarantor or any of its Subsidiaries shall take any corporate
         action to authorize any of the actions set forth above in this
         subsection (e); or

<PAGE>
                                       34

                  (f) Judgments or orders for the payment of money in excess of
         $50,000,000 in the aggregate shall be rendered against the Guarantor or
         any of its Subsidiaries and either (i) enforcement proceedings shall
         have been commenced by any creditor upon such judgment or order or (ii)
         there shall be any period of 10 consecutive days during which a stay of
         enforcement of such judgment or order, by reason of a pending appeal or
         otherwise, shall not be in effect; provided, however, that any such
         judgment or order shall not be an Event of Default under this Section
         6.01(f) if and for so long as (i) the amount of such judgment or order
         is covered by a valid and binding policy of insurance between the
         defendant and the insurer covering payment thereof and (ii) such
         insurer, which shall be rated at least "A-" by A.M. Best Company, has
         been notified of, and has not disputed the claim made for payment of,
         the amount of such judgment or order; or

                  (g) (i) Any Person or two or more Persons acting in concert
         shall have acquired beneficial ownership (within the meaning of Rule
         13d-3 of the Securities and Exchange Commission under the Securities
         Exchange Act of 1934), directly or indirectly, of Voting Stock of the
         Guarantor (or other securities convertible into such Voting Stock)
         representing 20% or more of the combined voting power of all Voting
         Stock of the Guarantor; or (ii) the board of directors of the Guarantor
         shall for any reason cease to consist of a majority of the directors of
         the Guarantor on the Effective Date and each other director whose
         nomination for election to the board of directors of the Guarantor is
         recommended by at least a majority of the directors of the board of
         directors of the Guarantor on the Effective Date and directors so
         recommended; or (iii) any Person or two or more Persons acting in
         concert shall have acquired by contract or otherwise, or shall have
         entered into a contract or arrangement that, upon consummation, will
         result in its or their acquisition of the power to exercise, directly
         or indirectly, a controlling influence over the management or policies
         of the Guarantor; or

                  (h) The Guarantor or any of its ERISA Affiliates shall incur,
         or shall be reasonably likely to incur liability in excess of
         $50,000,000 in the aggregate as a result of one or more of the
         following: (i) the occurrence of any ERISA Event; (ii) the partial or
         complete withdrawal of the Borrower, the Guarantor or any of its ERISA
         Affiliates from a Multiemployer Plan; or (iii) the reorganization or
         termination of a Multiemployer Plan; or

                  (i) any provision of Article VII shall for any reason cease to
         be valid and binding on or enforceable against the Guarantor, or the
         Guarantor shall so state in writing;

then, and in any such event, the Agent (i) shall at the request, or may with the
consent, of the Required Lenders, by notice to the Borrower, declare the
obligation of each Lender to make Advances to be terminated, whereupon the same
shall forthwith terminate, and (ii) shall at the request, or may with the
consent, of the Required Lenders, by notice to the Borrower, declare the
Advances, all interest thereon and all other amounts payable under this
Agreement to be forthwith due and payable, whereupon the Advances, all such
interest and all such amounts shall become and be forthwith due and payable,
without presentment, demand, protest or further notice of any kind, all of which
are hereby expressly waived by the Borrower; provided, however, that in the
event of an actual or deemed entry of an order for relief with respect to the
Borrower under the Federal Bankruptcy Code, (A) the obligation of each Lender to
make Advances shall automatically be terminated and (B) the Advances, all such
interest and all such amounts shall automatically become and be due and payable,
without presentment, demand, protest or any notice of any kind, all of which are
hereby expressly waived by the Borrower.

<PAGE>
                                       35

                                   ARTICLE VII

                                    GUARANTY

                  SECTION 7.01. Guaranty. The Guarantor hereby absolutely,
unconditionally and irrevocably guarantees the punctual payment when due,
whether at scheduled maturity or on any date of a required prepayment or by
acceleration, demand or otherwise, of all obligations of the Borrower now or
hereafter existing under or in respect of this Agreement and the Notes
(including, without limitation, any extensions, modifications, substitutions,
amendments or renewals of any or all of the foregoing obligations), whether
direct or indirect, absolute or contingent, and whether for principal, interest,
premiums, fees, indemnities, contract causes of action, costs, expenses or
otherwise (such obligations being the "Guaranteed Obligations"), and agrees to
pay any and all expenses (including, without limitation, reasonable fees and
expenses of counsel) incurred by the Agent or any other Lender in enforcing any
rights under this Article VII. Without limiting the generality of the foregoing,
the Guarantor's liability shall extend to all amounts that constitute part of
the Guaranteed Obligations and would be owed by the Borrower to the Agent or any
Lender under or in respect of this Agreement or the Notes but for the fact that
they are unenforceable or not allowable due to the existence of a bankruptcy,
reorganization or similar proceeding involving the Borrower.

                  SECTION 7.02. Guaranty Absolute. The Guarantor guarantees that
the Guaranteed Obligations will be paid strictly in accordance with the terms of
this Agreement and the Notes, regardless of any law, regulation or order now or
hereafter in effect in any jurisdiction affecting any of such terms or the
rights of any Lender with respect thereto. The obligations of the Guarantor
under or in respect of this Article VII are independent of the Guaranteed
Obligations or any other obligations of any the Borrower under or in respect of
this Agreement and the Notes, and a separate action or actions may be brought
and prosecuted against the Guarantor to enforce this Article VII, irrespective
of whether any action is brought against the Borrower or whether the Borrower is
joined in any such action or actions. The liability of the Guarantor under this
Article VII shall be irrevocable, absolute and unconditional irrespective of,
and the Guarantor hereby irrevocably waives any defenses it may now have or
hereafter acquire in any way relating to, any or all of the following:

                  (a)  any lack of validity or enforceability of this Agreement
         (other than this Article VII), the Notes or any agreement or instrument
         relating thereto;

                  (b) subject to Section 9.01, any change in the time, manner or
         place of payment of, or in any other term of, all or any of the
         Guaranteed Obligations or any other obligations of the Borrower under
         or in respect of this Agreement or the Notes, or any other amendment or
         waiver of or any consent to departure from this Agreement or the Notes,
         including, without limitation, any increase in the Guaranteed
         Obligations resulting from the extension of additional credit to the
         Borrower or any of its Subsidiaries or otherwise;

                  (c) any taking, exchange, release or non-perfection of any
         collateral, or any taking, release or amendment or waiver of, or
         consent to departure from, any other guaranty, for all or any of the
         Guaranteed Obligations;

                  (d) any manner of application of collateral, or proceeds
         thereof, to all or any of the Guaranteed Obligations, or any manner of
         sale or other disposition of any collateral for all or any of the
         Guaranteed Obligations or any other obligations of the Borrower under
         this Agreement or the Notes or any other assets of the Borrower or any
         of its Subsidiaries;

                  (e) any change, restructuring or termination of the corporate
        structure or existence of the Borrower or any of its Subsidiaries;

<PAGE>
                                       36

                  (f) any failure of any Lender or the Agent to disclose to the
         Guarantor any information relating to the business, condition
         (financial or otherwise), operations, performance, properties or
         prospects of the Borrower now or hereafter known to such Lender or the
         Agent (the Guarantor waiving any duty on the part of the Lenders and
         the Agent to disclose such information); or

                  (g) any other circumstance or any existence of or reliance on
         any representation by any Lender or the Agent that might otherwise
         constitute a defense available to, or a discharge of, the Borrower or
         any other guarantor or surety.

This Article VII shall continue to be effective or be reinstated, as the case
may be, if at any time any payment of any of the Guaranteed Obligations is
rescinded or must otherwise be returned by any Lender or the Agent or any other
Person upon the insolvency, bankruptcy or reorganization of the Borrower or
otherwise, all as though such payment had not been made.

                  SECTION 7.03. Waivers and Acknowledgments. (a) The Guarantor
hereby unconditionally and irrevocably waives promptness, diligence, notice of
acceptance, presentment, demand for performance, notice of nonperformance,
default, acceleration, protest or dishonor and any other notice with respect to
any of the Guaranteed Obligations and this Article VII and any requirement that
any Lender or the Agent protect, secure, perfect or insure any Lien or any
property subject thereto or exhaust any right or take any action against the
Borrower or any other Person or any collateral.

                  (b) The Guarantor hereby unconditionally and irrevocably
waives any right to revoke this Article VII and acknowledges that the guaranty
under this Article VII is continuing in nature and applies to all Guaranteed
Obligations, whether existing now or in the future.

                  (c) The Guarantor hereby unconditionally and irrevocably
waives (i) any defense arising by reason of any claim or defense based upon an
election of remedies by any Lender or the Agent that in any manner impairs,
reduces, releases or otherwise adversely affects the subrogation, reimbursement,
exoneration, contribution or indemnification rights of the Guarantor or other
rights of the Guarantor to proceed against the Borrower, any other guarantor or
any other Person or any collateral and (ii) any defense based on any right of
set-off or counterclaim against or in respect of the obligations of the
Guarantor hereunder.

                  (d) The Guarantor hereby unconditionally and irrevocably
waives any duty on the part of any Lender or the Agent to disclose to the
Guarantor any matter, fact or thing relating to the business, condition
(financial or otherwise), operations, performance, properties or prospects of
the Borrower or any of its Subsidiaries now or hereafter known by such Lender or
the Agent.

                  (e) The Guarantor acknowledges that it will receive
substantial direct and indirect benefits from the financing arrangements
contemplated by this Agreement and the Notes and that the waivers set forth in
Section 7.02 and this Section 7.03 are knowingly made in contemplation of such
benefits.

                  SECTION 7.04. Subrogation. The Guarantor hereby
unconditionally and irrevocably agrees not to exercise any rights that it may
now have or hereafter acquire against the Borrower or any other insider
guarantor that arise from the existence, payment, performance or enforcement of
the Guarantor's Obligations under or in respect of this Article VII, including,
without limitation, any right of subrogation, reimbursement, exoneration,
contribution or indemnification and any right to participate in any claim or
remedy of any Lender or the Agent against the Borrower or any other insider
guarantor or any collateral, whether or not such claim, remedy or right arises
in equity or under contract, statute or common law, including, without
limitation, the right to take or receive from the Borrower or any other insider
guarantor, directly or indirectly, in cash or other property or by set-off or in
any other manner,
<PAGE>
                                       37

payment or security on account of such claim, remedy or right, unless and until
all of the Guaranteed Obligations and all other amounts payable under this
Article VII shall have been paid in full in cash and the Commitments shall have
expired or been terminated. If any amount shall be paid to the Guarantor in
violation of the immediately preceding sentence at any time prior to the later
of (a) the payment in full in cash of the Guaranteed Obligations and all other
amounts payable under this Article VII and (b) the Termination Date, such amount
shall be received and held in trust for the benefit of the Lenders and the
Agent, shall be segregated from other property and funds of the Guarantor and
shall forthwith be paid or delivered to the Agent in the same form as so
received (with any necessary endorsement or assignment) to be credited and
applied to the Guaranteed Obligations and all other amounts payable under this
Article VII, whether matured or unmatured, in accordance with the terms of this
Agreement, or to be held as collateral for any Guaranteed Obligations or other
amounts payable under this Article VII thereafter arising. If (i) the Guarantor
shall make payment to any Lender or the Agent of all or any part of the
Guaranteed Obligations, (ii) all of the Guaranteed Obligations and all other
amounts payable under this Article VII shall have been paid in full in cash and
(iii) the Termination Date shall have occurred, the Lenders and the Agent will,
at the Guarantor's request and expense, execute and deliver to the Guarantor
appropriate documents, without recourse and without representation or warranty,
necessary to evidence the transfer by subrogation to the Guarantor of an
interest in the Guaranteed Obligations resulting from such payment made by the
Guarantor pursuant to this Article VII.

                  SECTION 7.05. Continuing Guaranty; Assignments. The guaranty
under this Article VII is a continuing guaranty and shall (a) remain in full
force and effect until the later of (i) the payment in full of the Guaranteed
Obligations and all other amounts payable under this Article VII and (ii) the
Termination Date, (b) be binding upon the Guarantor, its successors and assigns
and (c) inure to the benefit of and be enforceable by the Lenders and the Agent
and their successors, transferees and assigns. Without limiting the generality
of clause (c) of the immediately preceding sentence, any Lender may assign or
otherwise transfer all or any portion of its rights and obligations under this
Agreement (including, without limitation, all or any portion of its Commitments,
the Advances owing to it and the Note or Notes held by it) to any other Person,
and such other Person shall thereupon become vested with all the benefits in
respect thereof granted to such Lender herein or otherwise, in each case as and
to the extent provided in Section 9.07. The Guarantor shall not have the right
to assign its rights hereunder or any interest herein without the prior written
consent of the Lenders.

                                  ARTICLE VIII

                                    THE AGENT

                  SECTION 8.01. Authorization and Action. Each Lender hereby
appoints and authorizes the Agent to take such action as agent on its behalf and
to exercise such powers and discretion under this Agreement as are delegated to
the Agent by the terms hereof, together with such powers and discretion as are
reasonably incidental thereto. As to any matters not expressly provided for by
this Agreement (including, without limitation, enforcement or collection of the
Notes), the Agent shall not be required to exercise any discretion or take any
action, but shall be required to act or to refrain from acting (and shall be
fully protected in so acting or refraining from acting) upon the instructions of
the Required Lenders, and such instructions shall be binding upon all Lenders
and all holders of Notes; provided, however, that the Agent shall not be
required to take any action that exposes the Agent to personal liability or that
is contrary to this Agreement or applicable law. The Agent agrees to give to
each Lender prompt notice of each notice given to it by the Borrower or the
Guarantor pursuant to the terms of this Agreement.

                  SECTION 8.02. Agent's Reliance, Etc. Neither the Agent nor any
of its directors, officers, agents or employees shall be liable for any action
taken or omitted to be taken by it or them under or in connection with this
Agreement, except for its or their own gross negligence or willful misconduct.
Without limitation of the generality of the foregoing, the Agent: (i) may treat
the Lender that made any Advance as the holder of the Debt resulting therefrom
until the Agent receives and accepts an Assumption Agreement entered into by an
Assuming Lender as

<PAGE>
                                       38

provided in Section 2.18 or 2.19, as the case may be, or an Assignment and
Acceptance entered into by such Lender, as assignor, and an Eligible Assignee,
as assignee, as provided in Section 9.07; (ii) may consult with legal counsel
(including counsel for the Borrower or the Guarantor), independent public
accountants and other experts selected by it and shall not be liable for any
action taken or omitted to be taken in good faith by it in accordance with the
advice of such counsel, accountants or experts; (iii) makes no warranty or
representation to any Lender and shall not be responsible to any Lender for any
statements, warranties or representations (whether written or oral) made in or
in connection with this Agreement; (iv) shall not have any duty to ascertain or
to inquire as to the performance or observance of any of the terms, covenants or
conditions of this Agreement on the part of the Borrower or the Guarantor or to
inspect the property (including the books and records) of the Borrower or the
Guarantor; (v) shall not be responsible to any Lender for the due execution,
legality, validity, enforceability, genuineness, sufficiency or value of this
Agreement or any other instrument or document furnished pursuant hereto; and
(vi) shall incur no liability under or in respect of this Agreement by acting
upon any notice, consent, certificate or other instrument or writing (which may
be by telecopier, telegram or telex) believed by it to be genuine and signed or
sent by the proper party or parties.

                  SECTION 8.03. Citibank and Affiliates. With respect to its
Commitment, the Advances made by it and the Note issued to it, Citibank shall
have the same rights and powers under this Agreement as any other Lender and may
exercise the same as though it were not the Agent; and the term "Lender" or
"Lenders" shall, unless otherwise expressly indicated, include Citibank in its
individual capacity. Citibank and its Affiliates may accept deposits from, lend
money to, act as trustee under indentures of, accept investment banking
engagements from and generally engage in any kind of business with, the
Guarantor, any of its Subsidiaries and any Person who may do business with or
own securities of the Guarantor or any such Subsidiary, all as if Citibank were
not the Agent and without any duty to account therefor to the Lenders.

                  SECTION 8.04. Lender Credit Decision. Each Lender acknowledges
that it has, independently and without reliance upon the Agent or any other
Lender and based on the financial statements referred to in Section 4.01 and
such other documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this Agreement. Each Lender also
acknowledges that it will, independently and without reliance upon the Agent or
any other Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or
not taking action under this Agreement.

                  SECTION 8.05. Indemnification. The Lenders agree to indemnify
the Agent (to the extent not reimbursed by the Borrower), ratably according to
the respective principal amounts of the Revolving Credit Advances then owed to
each of them (or if no Revolving Credit Advances are at the time outstanding,
ratably according to the respective amounts of their Commitments), from and
against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever that may be imposed on, incurred by, or asserted against the
Agent in any way relating to or arising out of this Agreement or any action
taken or omitted by the Agent under this Agreement (collectively, the
"Indemnified Costs"), provided that no Lender shall be liable for any portion of
the Indemnified Costs resulting from the Agent's gross negligence or willful
misconduct. Without limitation of the foregoing, each Lender agrees to reimburse
the Agent promptly upon demand for its ratable share of any out-of-pocket
expenses (including reasonable counsel fees) incurred by the Agent in connection
with the preparation, execution, delivery, administration, modification,
amendment or enforcement (whether through negotiations, legal proceedings or
otherwise) of, or legal advice in respect of rights or responsibilities under,
this Agreement, to the extent that the Agent is not reimbursed for such expenses
by the Borrower. In the case of any investigation, litigation or proceeding
giving rise to any Indemnified Costs, this Section 8.05 applies whether any such
investigation, litigation or proceeding is brought by the Agent, any Lender or a
third party.

<PAGE>
                                       39

                  SECTION 8.06. Successor Agent. The Agent may resign at any
time by giving written notice thereof to the Lenders and the Borrower and may be
removed at any time with or without cause by the Required Lenders. Upon any such
resignation or removal, the Required Lenders shall have the right to appoint a
successor Agent. If no successor Agent shall have been so appointed by the
Required Lenders, and shall have accepted such appointment, within 30 days after
the retiring Agent's giving of notice of resignation or the Required Lenders'
removal of the retiring Agent, then the retiring Agent may, on behalf of the
Lenders, appoint a successor Agent, which shall be a commercial bank organized
under the laws of the United States of America or of any State thereof and
having a combined capital and surplus of at least $500,000,000. Upon the
acceptance of any appointment as Agent hereunder by a successor Agent, such
successor Agent shall thereupon succeed to and become vested with all the
rights, powers, discretion, privileges and duties of the retiring Agent, and the
retiring Agent shall be discharged from its duties and obligations under this
Agreement. After any retiring Agent's resignation or removal hereunder as Agent,
the provisions of this Article VIII shall inure to its benefit as to any actions
taken or omitted to be taken by it while it was Agent under this Agreement.

                  SECTION 8.07. Other Agents. Each Lender hereby acknowledges
that neither the documentation agent nor any other Lender designated as an
"Agent" on the signature pages hereof has any liability hereunder other than in
its capacity as a Lender.

                                   ARTICLE IX

                                  MISCELLANEOUS

                  SECTION 9.01. Amendments, Etc. No amendment or waiver of any
provision of this Agreement or the Revolving Credit Notes, nor consent to any
departure by the Borrower or the Guarantor therefrom, shall in any event be
effective unless the same shall be in writing and signed by the Borrower, the
Guarantor and the Required Lenders, and then such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given; provided, however, that no amendment, waiver or consent shall, unless in
writing and signed by each Lender directly affected thereby, do any of the
following: (a) waive any of the conditions specified in Section 3.01, (b)
increase the Commitments of the Lenders or subject the Lenders to any additional
obligations, (c) reduce the principal of, or interest on, the Revolving Credit
Advances or any fees or other amounts payable hereunder, (d) postpone any date
fixed for any payment of principal of, or interest on, the Revolving Credit
Advances or any fees or other amounts payable hereunder, (e) change the
percentage of the Commitments or of the aggregate unpaid principal amount of the
Revolving Credit Advances, or the number of Lenders, that shall be required for
the Lenders or any of them to take any action hereunder, (f) reduce or limit the
obligations of the Guarantor under Section 7.01 or release the Guarantor or
otherwise limit the Guarantor's liability with respect to its obligations under
Article VII, (g) change the manner of application of any payments made under
this Agreement or the Notes or (h) amend this Section 9.01; and provided further
that no amendment, waiver or consent shall, unless in writing and signed by the
Agent in addition to the Lenders required above to take such action, affect the
rights or duties of the Agent under this Agreement or any Note.

                  SECTION 9.02. Notices, Etc. All notices and other
communications provided for hereunder shall be in writing (including telecopier,
telegraphic or telex communication) and mailed, telecopied, telegraphed, telexed
or delivered, if to the Borrower or the Guarantor, at its address at 761 Main
Avenue, Norwalk, Connecticut 06859, Attention: Treasurer; if to any Initial
Lender, at its Domestic Lending Office specified opposite its name on Schedule I
hereto; if to any other Lender, at its Domestic Lending Office specified in the
Assumption Agreement or the Assignment and Acceptance pursuant to which it
became a Lender; and if to the Agent, at its address at Two Penns Way, New
Castle, Delaware 19720, Attention: Bank Loan Syndications Department; or, as to
the Borrower, the Guarantor or the Agent, at such other address as shall be
designated by such party in a written notice to the other parties and, as to
each other party, at such other address as shall be designated by such party in
a written notice to
<PAGE>
                                       40

the Borrower and the Agent. All such notices and communications shall, when
mailed, telecopied, telegraphed or telexed, be effective when deposited in the
mails, telecopied, delivered to the telegraph company or confirmed by telex
answerback, respectively, except that notices and communications to the Agent
pursuant to Article II, III or VIII shall not be effective until received by the
Agent. Delivery by telecopier of an executed counterpart of any amendment or
waiver of any provision of this Agreement or the Notes or of any Exhibit hereto
to be executed and delivered hereunder shall be effective as delivery of a
manually executed counterpart thereof.

                  SECTION 9.03. No Waiver; Remedies. No failure on the part of
any Lender or the Agent to exercise, and no delay in exercising, any right
hereunder or under any Note shall operate as a waiver thereof; nor shall any
single or partial exercise of any such right preclude any other or further
exercise thereof or the exercise of any other right. The remedies herein
provided are cumulative and not exclusive of any remedies provided by law.

                  SECTION 9.04. Costs and Expenses. (a) The Borrower agrees to
pay on demand all costs and expenses of the Agent in connection with the
preparation, execution, delivery, administration, modification and amendment of
this Agreement, the Notes and the other documents to be delivered hereunder,
including, without limitation, (A) all due diligence, syndication (including
printing, distribution and bank meetings), transportation, computer,
duplication, appraisal, consultant, and audit expenses and (B) the reasonable
fees and expenses of counsel for the Agent with respect thereto and with respect
to advising the Agent as to its rights and responsibilities under this
Agreement. The Borrower further agrees to pay on demand all costs and expenses
of the Agent and the Lenders, if any (including, without limitation, reasonable
counsel fees and expenses), in connection with the enforcement (whether through
negotiations, legal proceedings or otherwise) of this Agreement, the Notes and
the other documents to be delivered hereunder, including, without limitation,
reasonable fees and expenses of counsel for the Agent and each Lender in
connection with the enforcement of rights under this Section 9.04(a).

                  (b) The Borrower agrees to indemnify and hold harmless the
Agent and each Lender and each of their Affiliates and their officers,
directors, employees, agents and advisors (each, an "Indemnified Party") from
and against any and all claims, damages, losses, liabilities and expenses
(including, without limitation, reasonable fees and expenses of counsel)
incurred by or asserted or awarded against any Indemnified Party, in each case
arising out of or in connection with or by reason of (including, without
limitation, in connection with any investigation, litigation or proceeding or
preparation of a defense in connection therewith) (i) the Notes, this Agreement,
any of the transactions contemplated herein or the actual or proposed use of the
proceeds of the Advances or (ii) the actual or alleged presence of Hazardous
Materials on any property of the Borrower or any of its Subsidiaries or any
Environmental Action relating in any way to the Borrower or any of its
Subsidiaries, except to the extent such claim, damage, loss, liability or
expense results from such Indemnified Party's gross negligence or willful
misconduct. In the case of an investigation, litigation or other proceeding to
which the indemnity in this Section 9.04(b) applies, such indemnity shall be
effective whether or not such investigation, litigation or proceeding is brought
by the Borrower, its directors, shareholders or creditors or an Indemnified
Party or any other Person or any Indemnified Party is otherwise a party thereto
and whether or not the transactions contemplated hereby are consummated. The
Borrower also agrees not to assert any claim for special, indirect,
consequential or punitive damages against the Agent, any Lender, any of their
Affiliates, or any of their respective directors, officers, employees, attorneys
and agents, on any theory of liability, arising out of or otherwise relating to
the Notes, this Agreement, any of the transactions contemplated herein or the
actual or proposed use of the proceeds of the Advances.

                  (c) If any payment of principal of, or Conversion of, any
Eurodollar Rate Advance, LIBO Rate Advance is made by the Borrower to or for the
account of a Lender other than on the last day of the Interest Period for such
Advance, as a result of a payment or Conversion pursuant to Section 2.08(d) or
(e), 2.09, 2.10 or 2.12, acceleration of the maturity of the Notes pursuant to
Section 6.01 or for any other reason or by an Eligible Assignee to a Lender
other than on the last day of the Interest Period for such Advance upon an
assignment of rights and obligations under this Agreement pursuant to Section
9.07 as a result of a demand by the Borrower pursuant to
<PAGE>
                                       41

Section 9.07(a), the Borrower shall, upon demand by such Lender (with a copy of
such demand to the Agent), pay to the Agent for the account of such Lender any
amounts required to compensate such Lender for any additional losses, costs or
expenses that it may reasonably incur as a result of such payment or Conversion,
including, without limitation, any loss (excluding loss of anticipated profits),
cost or expense incurred by reason of the liquidation or reemployment of
deposits or other funds acquired by any Lender to fund or maintain such Advance.

                  (d) Without prejudice to the survival of any other agreement
of the Borrower hereunder, the agreements and obligations of the Borrower and,
in the case of Section 2.14, the Guarantor, contained in Sections 2.11, 2.14 and
9.04 shall survive the payment in full of principal, interest and all other
amounts payable hereunder and under the Notes.

                  SECTION 9.05. Right of Set-off. Upon (i) the occurrence and
during the continuance of any Event of Default and (ii) the making of the
request or the granting of the consent specified by Section 6.01 to authorize
the Agent to declare the Notes due and payable pursuant to the provisions of
Section 6.01, each Lender and each of its Affiliates is hereby authorized at any
time and from time to time, to the fullest extent permitted by law, to set off
and apply any and all deposits (general or special, time or demand, provisional
or final) at any time held and other indebtedness at any time owing by such
Lender or such Affiliate to or for the credit or the account of the Borrower or
the Guarantor against any and all of the obligations of the Borrower or the
Guarantor now or hereafter existing under this Agreement and the Note held by
such Lender, whether or not such Lender shall have made any demand under this
Agreement or such Note and although such obligations may be unmatured. Each
Lender agrees promptly to notify the Borrower or the Guarantor, as the case may
be, after any such set-off and application, provided that the failure to give
such notice shall not affect the validity of such set-off and application. The
rights of each Lender and its Affiliates under this Section are in addition to
other rights and remedies (including, without limitation, other rights of
set-off) that such Lender and its Affiliates may have.

                  SECTION 9.06. Binding Effect. This Agreement shall become
effective (other than Sections 2.01 and 2.03, which shall only become effective
upon satisfaction of the conditions precedent set forth in Section 3.01) when it
shall have been executed by the Borrower, the Guarantor and the Agent and when
the Agent shall have been notified by each Initial Lender that such Initial
Lender has executed it and thereafter shall be binding upon and inure to the
benefit of the Borrower, the Guarantor, the Agent and each Lender and their
respective successors and assigns, except that the Borrower shall not have the
right to assign its rights hereunder or any interest herein without the prior
written consent of the Lenders.

                  SECTION 9.07. Assignments and Participations. (a) Each Lender
may, with the consent of the Agent and the Borrower (which consent shall not be
unreasonably withheld or delayed) and, if demanded by the Borrower (following a
demand by such Lender pursuant to Section 2.11 or 2.14, a notice by such Lender
under Section 2.12 or the failure of such Lender to perform its obligations
hereunder) so long as no Event of Default has occurred and is continuing, upon
at least five Business Days' notice to such Lender and the Agent, will assign to
one or more Persons all or a portion of its rights and obligations under this
Agreement (including, without limitation, all or a portion of its Commitment,
the Revolving Credit Advances owing to it and the Revolving Credit Note or Notes
held by it); provided, however, that (i) each such assignment shall be of a
constant, and not a varying, percentage of all rights and obligations under this
Agreement (other than any right to make Competitive Bid Advances, Competitive
Bid Advances owing to it and Competitive Bid Notes), (ii) except in the case of
an assignment to a Person that, immediately prior to such assignment, was a
Lender or an assignment of all of a Lender's rights and obligations under this
Agreement, the amount of the Commitment of the assigning Lender being assigned
pursuant to each such assignment (determined as of the date of the Assignment
and Acceptance with respect to such assignment) shall in no event be less than
$5,000,000 or an integral multiple of $1,000,000 in excess thereof, (iii) each
such assignment shall be to an Eligible Assignee, and (iv) the parties to each
such assignment shall execute and deliver to the Agent, for its acceptance and
recording in the Register, an Assignment and Acceptance, together with any
Revolving Credit Note

<PAGE>
                                       42

subject to such assignment and a processing and recordation fee of $3,500
payable by the parties to each such assignment, provided, however, that in the
case of an assignment made as a result of a demand by the Borrower, such
recordation fee shall be payable by the Borrower except that no such recordation
fee shall be payable in the case of an assignment made at the request of the
Borrower to an Eligible Assignee that is an existing Lender, and (vii) any
Lender may, without the approval of the Borrower or the Agent, assign all or a
portion of its rights to any of its Affiliates. Upon such execution, delivery,
acceptance and recording, from and after the effective date specified in each
Assignment and Acceptance, (x) the assignee thereunder shall be a party hereto
and, to the extent that rights and obligations hereunder have been assigned to
it pursuant to such Assignment and Acceptance, have the rights and obligations
of a Lender hereunder and (y) the Lender assignor thereunder shall, to the
extent that rights and obligations hereunder have been assigned by it pursuant
to such Assignment and Acceptance, relinquish its rights and 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 Lender shall cease to be a party
hereto).

                  (b) By executing and delivering an Assignment and Acceptance,
the Lender assignor thereunder and the assignee thereunder confirm to and agree
with each other and the other parties hereto as follows: (i) other than as
provided in such Assignment and Acceptance, such assigning Lender makes no
representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with this
Agreement or the execution, legality, validity, enforceability, genuineness,
sufficiency or value of this Agreement or any other instrument or document
furnished pursuant hereto; (ii) such assigning Lender makes no representation or
warranty and assumes no responsibility with respect to the financial condition
of the Guarantor or the performance or observance by the Borrower or the
Guarantor of any of their obligations under this Agreement or any other
instrument or document furnished pursuant hereto; (iii) such assignee confirms
that it has received a copy of this Agreement, together with copies of the
financial statements referred to in Section 4.01 and such other documents and
information as it has deemed appropriate to make its own credit analysis and
decision to enter into such Assignment and Acceptance; (iv) such assignee will,
independently and without reliance upon the Agent, such assigning Lender or any
other Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or
not taking action under this Agreement; (v) such assignee confirms that it is an
Eligible Assignee; (vi) such assignee appoints and authorizes the Agent to take
such action as agent on its behalf and to exercise such powers and discretion
under this Agreement as are delegated to the Agent by the terms hereof, together
with such powers and discretion as are reasonably incidental thereto; and (vii)
such assignee agrees that it will perform in accordance with their terms all of
the obligations that by the terms of this Agreement are required to be performed
by it as a Lender.

                  (c) Upon its receipt of an Assignment and Acceptance executed
by an assigning Lender and an assignee representing that it is an Eligible
Assignee, together with any Revolving Credit Note or Notes subject to such
assignment, the Agent shall, if such Assignment and Acceptance has been
completed and is in substantially the form of Exhibit C hereto, (i) accept such
Assignment and Acceptance, (ii) record the information contained therein in the
Register and (iii) give prompt notice thereof to the Borrower.

                  (d) The Agent shall maintain at its address referred to in
Section 9.02 a copy of each Assumption Agreement and each Assignment and
Acceptance delivered to and accepted by it and a register for the recordation of
the names and addresses of the Lenders and the Commitment of, and principal
amount of the Advances owing to, each Lender from time to time (the "Register").
The entries in the Register shall be conclusive and binding for all purposes,
absent manifest error, and the Borrower, the Guarantor, the Agent and the
Lenders may treat each Person whose name is recorded in the Register as a Lender
hereunder for all purposes of this Agreement. The Register shall be available
for inspection by the Borrower, the Guarantor or any Lender at any reasonable
time and from time to time upon reasonable prior notice.

<PAGE>
                                       43

                  (e) Each Lender may sell participations to one or more banks
or other entities (other than the Guarantor or any of its Affiliates) in or to
all or a portion of its rights and obligations under this Agreement (including,
without limitation, all or a portion of its Commitment, the Advances owing to it
and any Note or Notes held by it); provided, however, that (i) such Lender's
obligations under this Agreement (including, without limitation, its Commitment
to the Borrower hereunder) shall remain unchanged, (ii) such Lender shall remain
solely responsible to the other parties hereto for the performance of such
obligations, (iii) such Lender shall remain the holder of any such Note for all
purposes of this Agreement, (iv) the Borrower, the Agent and the other Lenders
shall continue to deal solely and directly with such Lender in connection with
such Lender's rights and obligations under this Agreement and (v) no participant
under any such participation shall have any right to approve any amendment or
waiver of any provision of this Agreement or any Note, or any consent to any
departure by the Borrower or the Guarantor therefrom, except to the extent that
such amendment, waiver or consent would reduce the principal of, or interest on,
the Notes or any fees or other amounts payable hereunder, release any guaranty
given to support the obligations of the Borrower hereunder or amend this Section
9.07(e), or postpone any date fixed for any payment of principal of, or interest
on, the Notes or any fees or other amounts payable hereunder, in each case to
the extent subject to such participation.

                  (f) Any Lender may, in connection with any assignment or
participation or proposed assignment or participation pursuant to this Section
9.07, disclose to the assignee or participant or proposed assignee or
participant, any information relating to the Borrower or the Guarantor furnished
to such Lender by or on behalf of the Borrower or the Guarantor; provided that,
prior to any such disclosure, the assignee or participant or proposed assignee
or participant shall agree to preserve the confidentiality of any Confidential
Information relating to the Borrower or the Guarantor received by it from such
Lender.

                  (g) Notwithstanding any other provision set forth in this
Agreement, any Lender may at any time create a security interest in all or any
portion of its rights under this Agreement (including, without limitation, the
Advances owing to it and any Note or Notes held by it) in favor of any Federal
Reserve Bank in accordance with Regulation A of the Board of Governors of the
Federal Reserve System.

                  SECTION 9.08. Confidentiality. Neither the Agent nor any
Lender shall disclose any Confidential Information to any other Person without
the consent of the Borrower, other than (a) to the Agent's or such Lender's
Affiliates and their officers, directors, employees, agents and advisors and, as
contemplated by Section 9.07(f), to actual or prospective assignees and
participants, and then only on a confidential basis, (b) as required by any law,
rule or regulation or judicial process and (c) as requested or required by any
state, federal or foreign authority or examiner regulating banks or banking.

                  SECTION 9.09. Governing Law. This Agreement and the Notes
shall be governed by, and construed in accordance with, the laws of the State of
New York.

                  SECTION 9.10. Execution in Counterparts. This Agreement may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of a signature page to this
Agreement by telecopier shall be effective as delivery of a manually executed
counterpart of this Agreement.

                  SECTION 9.11. Jurisdiction, Etc. (a) Each of the parties
hereto hereby irrevocably and unconditionally submits, for itself and its
property, to the nonexclusive jurisdiction of any New York State court or
federal court of the United States of America sitting in New York City, and any
appellate court from any thereof, in any action or proceeding arising out of or
relating to this Agreement or the Notes, or for recognition or enforcement of
any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in any such New York State court or, to
the extent permitted by law, in such federal court. Each of the parties hereto
agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or
in any other

<PAGE>
                                       44

manner provided by law. Nothing in this Agreement shall affect any right that
any party may otherwise have to bring any action or proceeding relating to this
Agreement or the Notes in the courts of any jurisdiction.

                  (b) Each of the parties hereto irrevocably and unconditionally
waives, to the fullest extent it may legally and effectively do so, any
objection that it may now or hereafter have to the laying of venue of any suit,
action or proceeding arising out of or relating to this Agreement or the Notes
in any New York State or federal court. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such
court

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

                                     THE PERKIN-ELMER CORPORATION,
                                         as Borrower

                                     By  /s/ John S. Ostaszewski
                                       -----------------------------------------
                                         Title:

                                     By  /s/ Vikram Jog
                                       -----------------------------------------
                                         Title:

                                     PE CORPORATION,
                                         as Guarantor

                                     By  /s/ John S. Ostaszewski
                                       -----------------------------------------
                                         Title:

                                     By  /s/ Vikram Jog
                                       -----------------------------------------
                                         Title:

                                     CITIBANK, N.A.,
                                         as Agent

                                     By  /s/ Robert D. Wetrus
                                       -----------------------------------------
                                         Title:     Robert D. Wetrus
                                                    Citibank, N.A.
                                                    Vice President

                                 Initial Lenders
                                 ---------------
Commitment
----------

$30,000,000                          CITIBANK, N.A.

                                     By  /s/ Wolfgang Viragh
                                       -----------------------------------------
                                         Title:     VP

<PAGE>
                                       45

$20,000,000                          BANK OF AMERICA, N.A.

                                     By  /s/ Philip S. Durand
                                     -------------------------------------------
                                     Title:     Philip S. Durand
                                                Principal

$25,000,000                          THE CHASE MANHATTAN BANK

                                     By  /s/ A. Neil Sweeny
                                     -------------------------------------------
                                     Title:    Vice President

$25,000,000                          WACHOVIA BANK

                                     By  /s/ Jane C. Deaver
                                     -------------------------------------------
                                     Title:     Jane C. Deaver
                                                Senior Vice President

$100,000,000      Total of the Commitments

<PAGE>
<TABLE>
<CAPTION>

                                                                                                          SCHEDULE I
                                                                                        THE PERKIN-ELMER CORPORATION
                                                                                          FIVE YEAR CREDIT AGREEMENT
                                                                                          APPLICABLE LENDING OFFICES
<S>                                      <C>                                   <C>
--------------------------------------------------------------------------------------------------------------------
Name of Initial Lender                   Domestic Lending Office               Eurodollar Lending Office
--------------------------------------------------------------------------------------------------------------------
CITIBANK, N.A.                           Two Penns Way                         Two Penns Way
                                         New Castle, DE 19720                  New Castle, DE 19720
                                         Attn: Brian Maxwell                   Attn: Brian Maxwell
                                         T: 302 894-6023                       T: 302 894-6023
                                         F: 302 894-6120                       F: 302 894-6120
--------------------------------------------------------------------------------------------------------------------
BANK OF AMERICA, N.A.                    101 N. Tryon Street                   101 N. Tryon Street
                                         NCI-001-15-03                         NCI-001-15-03
                                         Charlotte, NC 28255                   Charlotte, NC 28255
                                         Attn: M. Menz                         Attn: M. Menz
                                         T: 704 388-1111                       T: 704 388-1111
                                         F: 704 409-0083                       F: 704 409-0083
--------------------------------------------------------------------------------------------------------------------
THE CHASE MANHATTAN BANK                 999 Broad Street                      999 Broad Street
                                         Bridgeport, CT 06604                  Bridgeport, CT 06604
                                         Attn: Diana Lopez                     Attn: Diana Lopez
                                         T: 203 382-5341                       T: 203 382-5341
                                         F: 203 382-5360                       F: 203 382-5360
--------------------------------------------------------------------------------------------------------------------
WACHOVIA BANK, N.A.                      191 Peachtree Street                  191 Peachtree Street
                                         Atlanta, GA 30303                     Atlanta, GA 30303
                                         Attn: Trudy T. Collins                Attn: Trudy T. Collins
                                         T: 404 332-6688                       T: 404 332-6688
                                         F: 404 332-4320                       F: 404 332-4320
--------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                                           EXHIBIT A-1 - FORM OF
                                                                REVOLVING CREDIT
                                                                 PROMISSORY NOTE

U.S.$_______________                      Dated:  _______________, 200_

                  FOR VALUE RECEIVED, the undersigned, THE PERKIN-ELMER
CORPORATION, a New York corporation (the "Borrower"), HEREBY PROMISES TO PAY to
the order of _________________________ (the "Lender") for the account of its
Applicable Lending Office on the Termination Date (each as defined in the Credit
Agreement referred to below) the principal sum of U.S.$[amount of the Lender's
Commitment in figures] or, if less, the aggregate principal amount of the
Revolving Credit Advances made by the Lender to the Borrower pursuant to the
Credit Agreement dated as of April 20, 2000 among the Borrower, PE Corporation,
the Lender and certain other lenders parties thereto, Salomon Smith Barney Inc.,
as sole arranger, Wachovia Bank, N.A., as syndication Agent, The Chase Manhattan
Bank, as documentation agent, and Citibank, N.A. as Agent for the Lender and
such other lenders (as amended or modified from time to time, the "Credit
Agreement"; the terms defined therein being used herein as therein defined)
outstanding on the Termination Date.

                  The Borrower promises to pay interest on the unpaid principal
amount of each Revolving Credit Advance from the date of such Revolving Credit
Advance until such principal amount is paid in full, at such interest rates, and
payable at such times, as are specified in the Credit Agreement.

                  Both principal and interest are payable in lawful money of the
United States of America to Citibank, as Agent, at 399 Park Avenue, New York,
New York 10043, in same day funds. Each Revolving Credit Advance owing to the
Lender by the Borrower pursuant to the Credit Agreement, and all payments made
on account of principal thereof, shall be recorded by the Lender and, prior to
any transfer hereof, endorsed on the grid attached hereto which is part of this
Promissory Note.

                  This Promissory Note is one of the Revolving Credit Notes
referred to in, and is entitled to the benefits of, the Credit Agreement. The
Credit Agreement, among other things, (i) provides for the making of Revolving
Credit Advances by the Lender to the Borrower from time to time in an aggregate
amount not to exceed at any time outstanding the U.S. dollar amount first above
mentioned, the indebtedness of the Borrower resulting from each such Revolving
Credit Advance being evidenced by this Promissory Note and (ii) contains
provisions for acceleration of the maturity hereof upon the happening of certain
stated events and also for prepayments on account of principal hereof prior to
the maturity hereof upon the terms and conditions therein specified.

                                       THE PERKIN-ELMER CORPORATION

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

<PAGE>
                                       2

                       ADVANCES AND PAYMENTS OF PRINCIPAL

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                            Amount of
           Date                    Amount of             Principal Paid           Unpaid Principal             Notation
                                    Advance                or Prepaid                 Balance                   Made By
--------------------------------------------------------------------------------------------------------------------------------
<S>                         <C>                      <C>                      <C>                       <C>
--------------------------------------------------------------------------------------------------------------------------------

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

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

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

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

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

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

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

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

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

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

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

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

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</TABLE>

<PAGE>

                                                           EXHIBIT A-2 - FORM OF
                                                                 COMPETITIVE BID
                                                                 PROMISSORY NOTE

U.S.$_______________                        Dated:  _______________, 200_

                  FOR VALUE RECEIVED, the undersigned, THE PERKIN-ELMER
CORPORATION, a New York corporation (the "Borrower"), HEREBY PROMISES TO PAY to
the order of _________________________ (the "Lender") for the account of its
Applicable Lending Office (as defined in the Credit Agreement dated as of April
20, 2000 among the Borrower, PE Corporation, the Lender and certain other
lenders parties thereto, Salomon Smith Barney Inc., as sole arranger, Wachovia
Bank, N.A., as syndication agent, The Chase Manhattan Bank, as documentation
agent, and Citibank, N.A., as Agent for the Lender and such other lenders (as
amended or modified from time to time, the "Credit Agreement"; the terms defined
therein being used herein as therein defined)), on _______________, 200_, the
principal amount of $_______________.

                  The Borrower promises to pay interest on the unpaid principal
amount hereof from the date hereof until such principal amount is paid in full,
at the interest rate and payable on the interest payment date or dates provided
below:

         Interest Rate: _____% per annum (calculated on the basis of a year of
         _____ days for the actual number of days elapsed).

                  Both principal and interest are payable in lawful money of the
United States to Citibank, as agent, for the account of the Lender at the office
of Citibank, at Two Penns Way, New Castle Delaware 19720 in same day funds.

                  This Promissory Note is one of the Competitive Bid Notes
referred to in, and is entitled to the benefits of, the Credit Agreement. The
Credit Agreement, among other things, contains provisions for acceleration of
the maturity hereof upon the happening of certain stated events.

                  The Borrower hereby waives presentment, demand, protest and
notice of any kind. No failure to exercise, and no delay in exercising, any
rights hereunder on the part of the holder hereof shall operate as a waiver of
such rights.

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

                                         THE PERKIN-ELMER CORPORATION

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

<PAGE>

                                                 EXHIBIT B-1 - FORM OF NOTICE OF
                                                      REVOLVING CREDIT BORROWING

Citibank, N.A., as Agent
  for the Lenders parties
  to the Credit Agreement
  referred to below
  Two Penns Way
  New Castle, Delaware 19720
                                     [Date]

                  Attention: Bank Loan Syndications Department

Ladies and Gentlemen:

                  The undersigned, The Perkin-Elmer Corporation, refers to the
Credit Agreement, dated as of April 20, 2000 (as amended or modified from time
to time, the "Credit Agreement", the terms defined therein being used herein as
therein defined), among the undersigned, PE Corporation, certain Lenders parties
thereto, Salomon Smith Barney Inc., as sole arranger, Wachovia Bank, N.A., as
syndication agent, The Chase Manhattan Bank, as documentation agent, and
Citibank, N.A., as Agent for said Lenders, and hereby gives you notice,
irrevocably, pursuant to Section 2.02 of the Credit Agreement that the
undersigned hereby requests a Revolving Credit Borrowing under the Credit
Agreement, and in that connection sets forth below the information relating to
such Revolving Credit Borrowing (the "Proposed Revolving Credit Borrowing") as
required by Section 2.02(a) of the Credit Agreement:

                  (i) The Business Day of the Proposed Revolving Credit
         Borrowing is _____________, 200_.

                  (ii)     The Type of Advances comprising the Proposed
         Revolving Credit Borrowing is [Base Rate Advances] [Eurodollar Rate
         Advances].

                  (iii)    The aggregate amount of the Proposed Revolving Credit
         Borrowing is $_____________.

                  [(iv) The initial Interest Period for each Eurodollar Rate
         Advance made as part of the Proposed Revolving Credit Borrowing is
         _____ month[s].]

                  The undersigned hereby certifies that the following statements
are true on the date hereof, and will be true on the date of the Proposed
Revolving Credit Borrowing:

                  (A) the representations and warranties contained in Section
         4.01 of the Credit Agreement (except the representations set forth in
         the last sentence of subsection (e) thereof and in subsection (f)(i)
         thereof) are correct, before and after giving effect to the Proposed
         Revolving Credit Borrowing and to the application of the proceeds
         therefrom, as though made on and as of such date; and

<PAGE>
                                       2

                  (B) no event has occurred and is continuing, or would result
         from such Proposed Revolving Credit Borrowing or from the application
         of the proceeds therefrom, that constitutes a Default.

                                          Very truly yours,

                                          THE PERKIN-ELMER CORPORATION

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

<PAGE>

                                                 EXHIBIT B-2 - FORM OF NOTICE OF
                                                       COMPETITIVE BID BORROWING

Citibank, N.A., as Agent
  for the Lenders parties
  to the Credit Agreement
  referred to below
  Two Penns Way
  New Castle, Delaware 19720
                                     [Date]

                  Attention: Bank Loan Syndications Department

Ladies and Gentlemen:

                  The undersigned, The Perkin-Elmer Corporation, refers to the
Credit Agreement, dated as of April 20, 2000 (as amended or modified from time
to time, the "Credit Agreement", the terms defined therein being used herein as
therein defined), among the undersigned, PE Corporation, certain Lenders parties
thereto, Salomon Smith Barney Inc., as sole arranger, Wachovia Bank, N.A., as
syndication agent, The Chase Manhattan Bank, as documentation agent, and
Citibank, N.A., as Agent for said Lenders, and hereby gives you notice,
irrevocably, pursuant to Section 2.03 of the Credit Agreement that the
undersigned hereby requests a Competitive Bid Borrowing under the Credit
Agreement, and in that connection sets forth the terms on which such Competitive
Bid Borrowing (the "Proposed Competitive Bid Borrowing") is requested to be
made:

                  (A)  Date of Competitive Bid Borrowing   _____________________

                  (B)  Amount of Competitive Bid Borrowing _____________________

                  (C) [Maturity Date] [Interest Period]    _____________________

                  (D) Interest Rate Basis                  _____________________

                  (E) Interest Payment Date(s)             _____________________

                  (F) ___________________                  _____________________

                  The undersigned hereby certifies that the following statements
are true on the date hereof, and will be true on the date of the Proposed
Competitive Bid Borrowing:

                  (a) the representations and warranties contained in Section
         4.01 (except the representations set forth in the last sentence of
         subsection (e) thereof and in subsection (f)(i) thereof) are correct,
         before and after giving effect to the Proposed Competitive Bid
         Borrowing and to the application of the proceeds therefrom, as though
         made on and as of such date;

                  (b) no event has occurred and is continuing, or would result
         from the Proposed Competitive Bid Borrowing or from the application of
         the proceeds therefrom, that constitutes a Default; and

                  (c) the aggregate amount of the Proposed Competitive Bid
         Borrowing and all other Borrowings to be made on the same day under the
         Credit Agreement is within the aggregate amount of the unused
         Commitments of the Lenders.

                  The undersigned hereby confirms that the Proposed Competitive
Bid Borrowing is to be made available to it in accordance with Section
2.03(a)(v) of the Credit Agreement.

<PAGE>
                                       2

                                       Very truly yours,

                                       THE PERKIN-ELMER CORPORATION

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

<PAGE>

                                                             EXHIBIT C - FORM OF
                                                       ASSIGNMENT AND ACCEPTANCE

                  Reference is made to the Credit Agreement dated as of April
20, 2000 (as amended or modified from time to time, the "Credit Agreement")
among The Perkin-Elmer Corporation, a New York corporation (the "Borrower"), PE
Corporation, a Delaware corporation (the "Guarantor"), the Lenders (as defined
in the Credit Agreement), Salomon Smith Barney Inc., as sole arranger, Wachovia
Bank, N.A., as syndication agent, The Chase Manhattan Bank, as documentation
agent, and Citibank, N.A., as agent for the Lenders (the "Agent"). Terms defined
in the Credit Agreement are used herein with the same meaning.

                  The "Assignor" and the "Assignee" referred to on Schedule I
hereto agree as follows:

                  1. The Assignor hereby sells and assigns to the Assignee, and
the Assignee hereby purchases and assumes from the Assignor, an interest in and
to the Assignor's rights and obligations under the Credit Agreement as of the
date hereof (other than in respect of Competitive Bid Advances and Competitive
Bid Notes) equal to the percentage interest specified on Schedule 1 hereto of
all outstanding rights and obligations under the Credit Agreement (other than in
respect of Competitive Bid Advances and Competitive Bid Notes). After giving
effect to such sale and assignment, the Assignee's Commitment and the amount of
the Revolving Credit Advances owing to the Assignee will be as set forth on
Schedule 1 hereto.

                  2. The Assignor (i) represents and warrants that it is the
legal and beneficial owner of the interest being assigned by it hereunder and
that such interest is free and clear of any adverse claim; (ii) makes no
representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with the
Credit Agreement or the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Credit Agreement or any other
instrument or document furnished pursuant thereto; (iii) makes no representation
or warranty and assumes no responsibility with respect to the financial
condition of the Guarantor or the performance or observance by the Borrower or
the Guarantor of any of its obligations under the Credit Agreement or any other
instrument or document furnished pursuant thereto; and (iv) attaches the
Revolving Credit Note, if any, held by the Assignor [and requests that the Agent
exchange such Revolving Credit Note for a new Revolving Credit Note payable to
the order of [the Assignee in an amount equal to the Commitment assumed by the
Assignee pursuant hereto or new Revolving Credit Notes payable to the order of
the Assignee in an amount equal to the Commitment assumed by the Assignee
pursuant hereto and] the Assignor in an amount equal to the Commitment retained
by the Assignor under the Credit Agreement, [respectively,] as specified on
Schedule 1 hereto].

                  3. The Assignee (i) confirms that it has received a copy of
the Credit Agreement, together with copies of the financial statements referred
to in Section 4.01 thereof and such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to enter into
this Assignment and Acceptance; (ii) agrees that it will, independently and
without reliance upon the Agent, the Assignor or any other Lender and based on
such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under
the Credit Agreement; (iii) confirms that it is an Eligible Assignee; (iv)
appoints and authorizes the Agent to take such action as agent on its behalf and
to exercise such powers and discretion under the Credit Agreement as are
delegated to the Agent by the terms thereof, together with such powers and
discretion as are reasonably incidental thereto; (v) agrees that it will perform
in accordance with their terms all of the obligations that by the terms of the
Credit Agreement are required to be performed by it as a Lender; and (vi)
attaches any U.S. Internal Revenue Service forms required under Section 2.14 of
the Credit Agreement.

                  4. Following the execution of this Assignment and Acceptance,
it will be delivered to the Agent for acceptance and recording by the Agent. The
effective date for this Assignment and Acceptance (the "Effective Date") shall
be the date of acceptance hereof by the Agent, unless otherwise specified on
Schedule 1 hereto.
<PAGE>
                                       2

                  5. Upon such acceptance and recording by the Agent, as of the
Effective Date, (i) the Assignee shall be a party to the Credit Agreement and,
to the extent provided in this Assignment and Acceptance, have the rights and
obligations of a Lender thereunder and (ii) the Assignor shall, to the extent
provided in this Assignment and Acceptance, relinquish its rights and be
released from its obligations under the Credit Agreement.

                  6. Upon such acceptance and recording by the Agent, from and
after the Effective Date, the Agent shall make all payments under the Credit
Agreement and the Revolving Credit Notes in respect of the interest assigned
hereby (including, without limitation, all payments of principal, interest and
facility fees with respect thereto) to the Assignee. The Assignor and Assignee
shall make all appropriate adjustments in payments under the Credit Agreement
and the Revolving Credit Notes for periods prior to the Effective Date directly
between themselves.

                  7. This Assignment and Acceptance shall be governed by, and
construed in accordance with, the laws of the State of New York.

                  8. This Assignment and Acceptance may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement. Delivery of an
executed counterpart of Schedule 1 to this Assignment and Acceptance by
telecopier shall be effective as delivery of a manually executed counterpart of
this Assignment and Acceptance.

                  IN WITNESS WHEREOF, the Assignor and the Assignee have caused
Schedule 1 to this Assignment and Acceptance to be executed by their officers
thereunto duly authorized as of the date specified thereon.

<PAGE>

                                   Schedule 1
                                       to
                            Assignment and Acceptance

<TABLE>
      <S>                                                                                 <C>
      Percentage interest assigned:                                                       _____%

      Assignee's Commitment:                                                              $__________

      Aggregate outstanding principal amount of Revolving Credit Advances assigned:       $__________

      [Principal amount of Revolving Credit Note payable to Assignee:                     $__________]

      [Principal amount of Revolving Credit Note payable to Assignor:                     $__________]

      Effective Date*:  _______________, 200_
</TABLE>

                                         [NAME OF ASSIGNOR], as Assignor

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

                                         Dated:  _______________, 200_

                                         [NAME OF ASSIGNEE], as Assignee

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

                                         Dated:  _______________, 200_

                                         Domestic Lending Office:
                                               [Address]

                                         Eurodollar Lending Office:
                                               [Address]

-----------------
* This date should be no earlier than five Business Days after the delivery of
this Assignment and Acceptance to the Agent.
<PAGE>
                                       2

Accepted [and Approved]* this

__________ day of _______________, 200_

CITIBANK, N.A., as Agent

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

[Approved this __________ day

of _______________, 200_

THE PERKIN-ELMER CORPORATION

By                                          ]**
  ------------------------------------------
  Title:

----------------------
* Required if the Assignee is an Eligible Assignee solely by reason of clause
(iii) of the definition of "Eligible Assignee".

** Required if the Assignee is an Eligible Assignee solely by reason of clause
(iii) of the definition of "Eligible Assignee".
<PAGE>

                                                             EXHIBIT D - FORM OF
                                                              OPINION OF COUNSEL
                                                                FOR THE BORROWER
                                                               AND THE GUARANTOR

April 20, 2000

To each of the Lenders parties
  to the Credit Agreement dated
  as of April 20, 2000 among
  The Perkin-Elmer Corporation,
  PE Corporation, said Lenders and
  Citibank, N.A., as Agent for said Lenders,
  and to Citibank, N.A., as Agent

                           The Perkin-Elmer Corporation
                           ----------------------------

Ladies and Gentlemen:

         This opinion is furnished to you pursuant to Section 3.01(g)(vi) of the
Credit Agreement, dated as of April 20, 2000 (the "Credit Agreement"), among The
Perkin-Elmer Corporation (the "Borrower"), PE Corporation (the "Guarantor"), the
Lenders parties thereto, and Citibank, N.A., as Agent for said Lenders. Terms
defined in the Credit Agreement are used herein as therein defined.

         I have acted as counsel for the Borrower and the Guarantor in
connection with the preparation, execution and delivery of the Credit Agreement.

         In that connection, I have examined:

                  (1)      The Credit Agreement.

                  (2)      The documents furnished by the Borrower and the
         Guarantor pursuant to Article III of the Credit Agreement.

                  (3)      The Restated Certificate of Incorporation of the
         Borrower and all amendments thereto (the "Borrower's Charter").

                  (4)      The by-laws of the Borrower and all amendments
         thereto (the "Borrower's By-laws").
<PAGE>
                                      -2-

                  (5) A certificate of the Secretary of State of New York, dated
         March 28, 2000, attesting to the continued corporate existence and good
         standing of the Borrower in that State.

                  (6)      The Restated Certificate of Incorporation of the
         Guarantor and all amendments thereto (the "Guarantor's Charter").

                  (7)      The by-laws of the Guarantor and all amendments
         thereto (the "Guarantor's By-laws").

                  (5) A certificate of the Secretary of State of Delaware, dated
         March 29, 2000, attesting to the continued corporate existence and good
         standing of the Guarantor in that State.

         I have also examined the originals, or copies certified to my
satisfaction, of such other corporate records of the Borrower and the Guarantor,
certificates of public officials and of officers of the Borrower and the
Guarantor, and agreements, instruments, and other documents, as I have deemed
necessary as a basis for the opinions expressed below. As to questions of fact
material to such opinions, I have, when relevant facts were not independently
established by me, relied upon certificates of the Borrower, the Guarantor, or
their respective officers, or of public officials. I have assumed the due
execution and delivery, pursuant to due authorization, of the Credit Agreement
by the Initial Lenders and the Agent.

         My opinions expressed below are limited to the law of the State of New
York, the General Corporation Law of the State of Delaware, and the federal law
of the United States.

         Based upon the foregoing and upon such investigation as I have deemed
necessary, I am of the following opinion:

                  1. The Borrower is a corporation duly organized, validly
         existing, and in good standing under the laws of the State of New York.
         The Guarantor is a corporation duly organized, validly existing, and in
         good standing under the laws of the State of Delaware.

                  2. The execution, delivery, and performance by the Borrower
         and the Guarantor of the Credit Agreement and, in the case of the
         Borrower, the Notes, and the consummation of the transactions
         contemplated thereby, are within the Borrower's and the Guarantor's
         respective corporate powers, have been duly authorized by all necessary
         corporate action, and do not contravene (i) the Borrower's Charter, the
         Borrower's By-laws, the Guarantor's Charter, or the Guarantor's
         By-laws, (ii) any law, rule, or regulation applicable to the Borrower
         or the Guarantor (including, without limitation, Regulation X of the
         Board of Governors of the Federal Reserve System), or (iii) any
         agreement, judgment, injunction, order, or other instrument known by me
         to be binding on the Borrower or the Guarantor. The Credit Agreement
         and the Notes have been duly executed and delivered on behalf of the
         Borrower. The Credit Agreement has been duly executed and delivered on
         behalf of the Guarantor.
<PAGE>
                                      -3-

                  3. No authorization, approval or other action by, and no
         notice to or filing with, any governmental authority or regulatory body
         or any other third party is required for the due execution, delivery,
         and performance by the Borrower or the Guarantor of the Credit
         Agreement and, in the case of the Borrower, the Notes.

                  4. The Credit Agreement is, and after giving effect to the
         initial Borrowing, the Notes will be, legal, valid, and binding
         obligations of the Borrower enforceable against the Borrower in
         accordance with their respective terms. The Credit Agreement is the
         legal, valid, and binding obligation of the Guarantor enforceable
         against the Guarantor in accordance with its terms.

                  5. To the best of my knowledge, there are no pending or
         overtly threatened actions or proceedings against the Guarantor or any
         of its Subsidiaries before any court, governmental agency, or
         arbitrator that purport to affect the legality, validity, binding
         effect, or enforceability of the Credit Agreement or any of the Notes
         or the consummation of the transactions contemplated thereby or, except
         as described in Exhibit 3.01(d) to the Credit Agreement, that are
         likely to have a materially adverse effect upon the financial condition
         or operations of the Guarantor and its Subsidiaries taken as a whole.

                  The opinions set forth above are subject to the following
qualifications:

                  (a) My opinion in paragraph 4 above as to enforceability is
         subject to the effect of (i) any applicable bankruptcy, insolvency
         (including, without limitation, all laws relating to fraudulent
         transfers), reorganization, moratorium, or similar law affecting
         creditors' rights generally and (ii) general principles of equity,
         including, without limitation, concepts of materiality, reasonableness,
         good faith, and fair dealing (regardless of whether considered in a
         proceeding in equity or at law).

                  (b) I express no opinion as to (i) Section 2.15 of the Credit
         Agreement insofar as it provides that any Lender purchasing a
         participation from another Lender pursuant thereto may exercise set-off
         or similar rights with respect to such participation, (ii) the effect
         of the law of any jurisdiction other than the State of New York wherein
         any Lender may be located or wherein enforcement of the Credit
         Agreement or the Notes may be sought that limits the rates of interest
         legally chargeable or collectible, (iii) the effect of any provision of
         the Credit Agreement which is intended to permit modification thereof
         only by means of an agreement in writing signed by the parties thereto,
         (iv) the effect of any provision of the Credit Agreement imposing
         penalties or forfeitures, (v) the enforceability of any provision of
         the Credit Agreement to the extent that such provision constitutes a
         waiver of illegality as a defense to performance of contract
         obligations, (vi) the effect of any provision of the Credit Agreement
         relating to indemnification or exculpation in connection with
         violations of any securities laws or relating to indemnification,
         contribution, or exculpation in connection with willful, reckless, or
         criminal acts of the indemnified or exculpated Person or the Person
         receiving contribution.
<PAGE>
                                      -4-

         This opinion is intended only for the benefit of the addressees and may
not be relied upon by any other person without my prior written consent.

                                                     Very truly yours,

                                                     Thomas P. Livingston
                                                     Corporate Secretary

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