Document:

Credit Agreement

    Exhibit
      10.1

     

    
      

      

    

    

    $235,000,000

    

     

    AMENDED
      AND RESTATED CREDIT AGREEMENT

     

    among

     

    CONMED
      CORPORATION,

    as
      Parent
      Borrower,

     

    The
      Foreign Subsidiary Borrowers From Time to Time Parties Hereto,

     

    The
      Several Lenders from Time to Time Parties Hereto,

     

    and

     

    JPMORGAN
      CHASE BANK, N.A.,

    as
      Administrative Agent

     

    Dated
      as
      of April 13, 2006

     

    
      

      

    

     

    J.P.
      MORGAN SECURITIES INC., as Lead Arranger and Bookrunner

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Table
      of Contents

     

    
      	 	
              Page

            
	 	 
	
              ARTICLE
                I. DEFINITIONS

            	
              1

            
	 	 
	 	
              SECTION
                1.1  
                Defined Terms

            	
              1

            
	 	 	 
	 	
              SECTION
                1.2  
                Other Definitional Provisions

            	
              24

            
	 	 	 
	 	
              SECTION
                1.3  
                Exchange Rates

            	
              25

            
	 	 	 
	
              ARTICLE
                II. AMOUNT AND TERMS OF
                COMMITMENTS

            	
              25

            
	 	 
	 	
              SECTION
                2.1  
                Term Loan Commitments

            	
              25

            
	 	 	 
	 	
              SECTION
                2.2  
                Procedure for Term Loan Borrowing

            	
              26

            
	 	 	 
	 	
              SECTION
                2.3  
                Repayment of Term Loans

            	
              26

            
	 	 	 
	 	
              SECTION
                2.4  
                Revolving Credit Commitments

            	
              27

            
	 	 	 
	 	
              SECTION
                2.5  
                Procedure for Revolving Credit Borrowing

            	
              28

            
	 	 	 
	 	
              SECTION
                2.6  
                Swingline Commitment

            	
              29

            
	 	 	 
	 	
              SECTION
                2.7  
                Procedure for Swingline Borrowing; Refunding of Swingline
                Loans

            	
              29

            
	 	 	 
	 	
              SECTION
                2.8  
                Repayment of Loans

            	
              31

            
	 	 	 
	 	
              SECTION
                2.9  
                Commitment Fees, etc.

            	
              31

            
	 	 	 
	 	
              SECTION
                2.10  
                Termination or Reduction of Revolving Credit
                Commitments

            	
              31

            
	 	 	 
	 	
              SECTION
                2.11  
                Optional Prepayments

            	
              32

            
	 	 	 
	 	
              SECTION
                2.12  
                Mandatory Prepayments and Commitment Reductions

            	
              32

            
	 	 	 
	 	
              SECTION
                2.13  
                Conversion and Continuation Options

            	
              33

            
	 	 	 
	 	
              SECTION
                2.14  
                Limitations on Eurocurrency Tranches

            	
              34

            
	 	 	 
	 	
              SECTION
                2.15  
                Interest Rates and Payment Dates

            	
              34

            
	 	 	 
	 	
              SECTION
                2.16  
                Computation of Interest and Fees

            	
              34

            
	 	 	 
	 	
              SECTION
                2.17  
                Inability to Determine Interest Rate

            	
              35

            
	 	 	 
	 	
              SECTION
                2.18  
                Pro Rata Treatment and Payments

            	
              35

            
	 	 	 
	 	
              SECTION
                2.19  
                Requirements of Law

            	
              36

            

    

    

     

    
      
        
        

      

      
        -i-

        
          

        

      

      
        
        

      

    

     

     

    
      	 	 	
              Page

            
	 	 	 
	 	
              SECTION
                2.20  
                Taxes

            	
              37

            
	 	 	 
	 	
              SECTION
                2.21  
                Indemnity

            	
              39

            
	 	 	 
	 	
              SECTION
                2.22  
                Illegality

            	
              39

            
	 	 	 
	 	
              SECTION
                2.23  
                Change of Lending Office

            	
              39

            
	 	 	 
	 	
              SECTION
                2.24  
                Replacement of Lenders under Certain Circumstances

            	
              39

            
	 	 	 
	 	
              SECTION
                2.25  
                Foreign Subsidiary Borrowers

            	
              40

            
	 	 	 
	 	
              SECTION
                2.26  
                Parent Borrower as Agent for Foreign Subsidiary
                Borrowers

            	
              41

            
	 	 	 
	
              ARTICLE
                III. LETTERS OF CREDIT

            	
              41

            
	 	 
	 	
              SECTION
                3.1  
                L/C Commitment

            	
              41

            
	 	 	 
	 	
              SECTION
                3.2  
                Procedure for Issuance of Letter of Credit

            	
              42

            
	 	 	 
	 	
              SECTION
                3.3  
                Commissions, Fees and Other Charges

            	
              42

            
	 	 	 
	 	
              SECTION
                3.4  
                L/C Participations

            	
              42

            
	 	 	 
	 	
              SECTION
                3.5  
                Reimbursement Obligation of the Borrowers

            	
              43

            
	 	 	 
	 	
              SECTION
                3.6  
                Obligations Absolute

            	
              43

            
	 	 	 
	 	
              SECTION
                3.7  
                Letter of Credit Payments

            	
              44

            
	 	 	 
	 	
              SECTION
                3.8  
                Applications

            	
              44

            
	 	 	 
	 	
              SECTION
                3.9  
                Transitional Provisions

            	
              44

            
	 	 	
               

            
	
              ARTICLE
                IV. REPRESENTATIONS AND
                WARRANTIES

            	
              44

            
	 	 
	 	
              SECTION
                4.1  
                Financial Condition

            	
              44

            
	 	 	 
	 	
              SECTION
                4.2  
                No
                Change

            	
              44

            
	 	 	 
	 	
              SECTION
                4.3  
                Corporate Existence; Compliance with Law

            	
              44

            
	 	 	 
	 	
              SECTION
                4.4  
                Corporate Power; Authorization; Enforceable
                Obligations

            	
              45

            
	 	 	 
	 	
              SECTION
                4.5  
                No
                Legal Bar

            	
              45

            
	 	 	 
	 	
              SECTION
                4.6  
                No
                Material Litigation

            	
              45

            
	 	 	 
	 	
              SECTION
                4.7  
                No
                Default

            	
              45

            
	 	 	 
	 	
              SECTION
                4.8  
                Ownership of Property; Liens

            	
              45

            
	 	 	 

    

    

     

    
      
        
        

      

      
        -ii-

        
          

        

      

      
        
        

      

    

    

    
      	 	 	
              Page

            
	 	 	 
	 	
              SECTION
                4.9  
                Intellectual Property

            	
              46

            
	 	 	 
	 	
              SECTION
                4.10  
                Taxes

            	
              46

            
	 	 	 
	 	
              SECTION
                4.11  
                Federal Regulations

            	
              46

            
	 	 	 
	 	
              SECTION
                4.12  
                Labor Matters

            	
              46

            
	 	 	 
	 	
              SECTION
                4.13  
                ERISA

            	
              46

            
	 	 	 
	 	
              SECTION
                4.14  
                Investment Company Act; Other Regulations

            	
              47

            
	 	 	 
	 	
              SECTION
                4.15  
                Subsidiaries

            	
              47

            
	 	 	 
	 	
              SECTION
                4.16  
                Use of Proceeds

            	
              47

            
	 	 	 
	 	
              SECTION
                4.17  
                Environmental Matters

            	
              47

            
	 	 	 
	 	
              SECTION
                4.18  
                Accuracy of Information, etc.

            	
              48

            
	 	 	 
	 	
              SECTION
                4.19  
                Security Documents

            	
              48

            
	 	 	 
	 	
              SECTION
                4.20  
                Solvency

            	
              49

            
	 	 	 
	
              ARTICLE
                V. CONDITIONS PRECEDENT

            	
              49

            
	 	 
	 	
              SECTION
                5.1  
                Conditions to the Effectiveness of this Agreement

            	
              49

            
	 	 	 
	 	
              SECTION
                5.2  
                Conditions to Each Extension of Credit

            	
              49

            
	 	 	 
	 	
              SECTION
                5.3  
                Conditions to Initial Loan to Each Foreign Subsidiary
                Borrower

            	
              50

            
	 	 	 
	
              ARTICLE
                VI. AFFIRMATIVE COVENANTS

            	
              51

            
	 	 
	 	
              SECTION
                6.1  
                Financial Statements

            	
              51

            
	 	 	 
	 	
              SECTION
                6.2  
                Certificates; Other Information

            	
              52

            
	 	 	 
	 	
              SECTION
                6.3  
                Payment of Obligations

            	
              53

            
	 	 	 
	 	
              SECTION
                6.4  
                Conduct of Business and Maintenance of Existence, etc.

            	
              53

            
	 	 	 
	 	
              SECTION
                6.5  
                Maintenance of Property; Insurance

            	
              53

            
	 	 	 
	 	
              SECTION
                6.6  
                Inspection of Property; Books and Records; Discussions

            	
              54

            
	 	 	 
	 	
              SECTION
                6.7  
                Notices

            	
              54

            
	 	 	 
	 	
              SECTION
                6.8  
                Environmental Laws

            	
              54

            
	 	 	 
	 	
              SECTION
                6.9  
                Additional Collateral, etc.

            	
              55

            

    

    

     

    
      
        
        

      

      
        -iii-

        
          

        

      

      
        
        

      

    

    

    
      	 	 	
              Page

            
	 	 	 
	 	
              SECTION
                6.10  
                Additional Covenants Relating to Collateral

            	
              56

            
	 	 	 
	 	
              SECTION
                6.11  
                Interest Rate Protection

            	
              57

            
	 	 	 
	
              ARTICLE
                VII. NEGATIVE COVENANTS

            	
              57

            
	 	 
	 	
              SECTION
                7.1  
                Financial Condition Covenants

            	
              57

            
	 	 	 
	 	
              SECTION
                7.2  
                Limitation on Indebtedness

            	
              58

            
	 	 	 
	 	
              SECTION
                7.3  
                Limitation on Liens

            	
              59

            
	 	 	 
	 	
              SECTION
                7.4  
                Limitation on Fundamental Changes

            	
              61

            
	 	 	 
	 	
              SECTION
                7.5  
                Limitation on Sale of Assets

            	
              61

            
	 	 	 
	 	
              SECTION
                7.6  
                Limitation on Dividends

            	
              62

            
	 	 	 
	 	
              SECTION
                7.7  
                Limitation on Capital Expenditures

            	
              63

            
	 	 	 
	 	
              SECTION
                7.8  
                Limitation on Investments, Loans and Advances

            	
              63

            
	 	 	 
	 	
              SECTION
                7.9  
                Limitation on Optional Payments and Modifications of Debt Instruments,
                etc.

            	
              64

            
	 	 	
            
	 	
              SECTION
                7.10  
                Limitation on Transactions with Affiliates

            	
              65

            
	 	 	
            
	 	
              SECTION
                7.11  
                Limitation on Sales and Leasebacks

            	
              65

            
	 	 	 
	 	
              SECTION
                7.12  
                Limitation on Changes in Fiscal Periods

            	
              65

            
	 	 	 
	 	
              SECTION
                7.13  
                Limitation on Negative Pledge Clauses

            	
              65

            
	 	 	 
	 	
              SECTION
                7.14  
                Limitation on Restrictions on Subsidiary Distributions

            	
              65

            
	 	 	 
	 	
              SECTION
                7.15  
                Limitation on Lines of Business

            	
              65

            
	 	 	 
	
              ARTICLE
                VIII. EVENTS OF DEFAULT

            	
              66

            
	 	 
	
              ARTICLE
                IX. THE ADMINISTRATIVE AGENT

            	
              68

            
	 	 
	 	
              SECTION
                9.1  
                Appointment

            	
              68

            
	 	 	 
	 	
              SECTION
                9.2  
                Delegation of Duties

            	
              69

            
	 	 	 
	 	
              SECTION
                9.3  
                Exculpatory Provisions

            	
              69

            
	 	 	 
	 	
              SECTION
                9.4  
                Reliance by Administrative Agent

            	
              69

            
	 	 	 
	 	
              SECTION
                9.5  
                Notice of Default

            	
              69

            
	 	 	 
	 	
              SECTION
                9.6  
                Non-Reliance on Administrative Agent and Other Lenders

            	
              70

            
	 	 	 

    

    

     

    
      
        
        

      

      
        -iv-

        
          

        

      

      
        
        

      

    

    

    
      	 	 	
              Page

            
	 	 	 
	 	
              SECTION
                9.7  
                Indemnification

            	
              70

            
	 	 	 
	 	
              SECTION
                9.8  
                Administrative Agent in Its Individual Capacity

            	
              70

            
	 	 	 
	 	
              SECTION
                9.9  
                Successor Administrative Agents

            	
              71

            
	 	 	 
	 	
              SECTION
                9.10  
                Authorization to Release Liens

            	
              71

            
	 	 	 
	
              ARTICLE
                X. MISCELLANEOUS

            	
              71

            
	 	 
	 	
              SECTION
                10.1  
                Amendments and Waivers

            	
              71

            
	 	 	 
	 	
              SECTION
                10.2  
                Notices

            	
              72

            
	 	 	 
	 	
              SECTION
                10.3  
                No
                Waiver; Cumulative Remedies

            	
              73

            
	 	 	 
	 	
              SECTION
                10.4  
                Survival of Representations and Warranties

            	
              74

            
	 	 	 
	 	
              SECTION
                10.5  
                Payment of Expenses

            	
              74

            
	 	 	 
	 	
              SECTION
                10.6  
                Successors and Assigns; Participations and Assignments

            	
              74

            
	 	 	 
	 	
              SECTION
                10.7  
                Adjustments; Set-off

            	
              77

            
	 	 	 
	 	
              SECTION
                10.8  
                Counterparts

            	
              78

            
	 	 	 
	 	
              SECTION
                10.9  
                Severability

            	
              78

            
	 	 	 
	 	
              SECTION
                10.10  
                Integration

            	
              78

            
	 	 	 
	 	
              SECTION
                10.11  
                GOVERNING LAW

            	
              78

            
	 	 	 
	 	
              SECTION
                10.12  
                Submission To Jurisdiction; Waivers

            	
              78

            
	  	 	 
	 	
              SECTION
                10.13  
                Acknowledgements

            	
              79

            
	 	 	 
	 	
              SECTION
                10.14  
                WAIVERS OF JURY TRIAL

            	
              79

            
	 	 	 
	 	
              SECTION
                10.15  
                USA Patriot Act

            	
              79

            
	 	 	 
	 	
              SECTION
                10.16  
                Confidentiality

            	
              79

            
	 	 	 
	 	
              SECTION
                10.17  
                Releases

            	
              80

            
	 	 	 
	 	
              SECTION
                10.18  
                Delivery of Addenda

            	
              80

            
	 	 	 

    

    

    

     

    
      
        
        

      

      
        -v-

        
          

        

      

      
        
        

      

    

    
      	
              SCHEDULES:

            	 
	 	 
	
              1.1A

            	
              Commitments;
                Lending Offices and Addresses

            
	
              4.1

            	
              Disposition
                of Assets

            
	
              4.1(b)

            	
              Guarantee
                Obligations of CONMED

            
	
              4.4

            	
              Consents,
                Authorizations, Filings and Notices

            
	
              4.6

            	
              Litigation

            
	
              4.9

            	
              Intellectual
                Property

            
	
              4.15

            	
              Subsidiaries

            
	
              4.19

            	
              UCC
                Filing Jurisdictions

            
	
              7.2(e)

            	
              Existing
                Indebtedness

            
	
              7.3(f)

            	
              Existing
                Liens

            
	 	 
	
              EXHIBITS:

            	 
	 	 
	
              A-1

            	
              Form
                of Guarantee and Collateral Agreement

            
	
              A-2

            	
              Form
                of First Amendment to Guarantee and Collateral
                Agreement

            
	
              A-3

            	
              Form
                of Second Amendment to Guarantee and Collateral
                Agreement

            
	
              B

            	
              Form
                of Compliance Certificate

            
	
              C

            	
              Form
                of Closing Certificate

            
	
              D

            	
              Form
                of Assignment and Assumption

            
	
              E-1

            	
              Form
                of Legal Opinion of Sullivan & Cromwell LLP

            
	
              E-2

            	
              Form
                of Legal Opinion of General Counsel

            
	
              F

            	
              Form
                of Exemption Certificate 

            
	
              G

            	
              Form
                of Increased Facility Activation Notice

            
	
              H

            	
              Form
                of New Lender Supplement

            
	
              I

            	
              Form
                of Foreign Subsidiary Borrower Joinder
                Agreement

            

    

    

     

    
      
        
        

      

      
        -vi-

        
          

        

      

      
        
        

      
1

    AMENDED
      AND RESTATED CREDIT AGREEMENT (this “Agreement”),
      dated
      as of April 13, 2006, among CONMED CORPORATION, a New York corporation (the
      “Parent
      Borrower”),
      the
      Foreign Subsidiary Borrowers (as hereinafter defined) from time to time parties
      to this Agreement, the several banks and other financial institutions or
      entities from time to time parties to this Agreement (the “Lenders”)
      and
      JPMORGAN CHASE BANK, N.A., as administrative agent.

     

    The
      Parent Borrower, certain Lenders parties hereto and the Administrative Agent
      are
      parties to an Amended and Restated Credit Agreement dated as of June 30, 2003
      (as amended and in effect immediately before giving effect to the amendment
      and
      restatement contemplated hereby, the “Previous
      Credit Agreement”),
      providing for “Revolving Credit Loans” and “Tranche B Term Loans”.

     

    The
      Parent Borrower has requested that the Previous Credit Agreement be amended
      and
      restated in its entirety to read as provided herein. Accordingly, effective
      as
      of the Closing Date (as defined below), the Previous Credit Agreement shall
      be
      amended and restated in its entirety to read as follows:

     

    ARTICLE
      I.DEFINITIONS

     

    SECTION
      1.1   Defined
      Terms.
      As used
      in this Agreement, the terms listed in this Section 1.1 shall have the
      respective meanings set forth in this Section 1.1.

     

    “ABR
      Loans”:
      Loans
      the rate of interest applicable to which is based upon the Alternate Base
      Rate.

     

    “Acknowledgement
      and Consent”:
      the
      collective reference to each Acknowledgment and Consent in the form attached
      to
      the Guarantee and Collateral Agreement delivered pursuant to the Loan
      Documents.

     

    “Adjustment
      Date”:
      as
      defined in the Pricing Grid.

     

    “Administrative
      Agent”:
      JPMorgan Chase Bank, N.A., together with its branches and affiliates, as the
      administrative agent for the Lenders under this Agreement and the other Loan
      Documents, together with any of its permitted successors.

     

    “Affiliate”:
      as to
      any Person, any other Person which, directly or indirectly, is in control of,
      is
      controlled by, or is under common control with, such Person. For purposes of
      this definition, “control” of a Person means the power, directly or indirectly,
      either to (a) vote 10% or more of the securities having ordinary voting power
      for the election of directors (or persons performing similar functions) of
      such
      Person or (b) direct or cause the direction of the management and policies
      of
      such Person, whether by contract or otherwise.

     

    “Aggregate
      Exposure”:
      with
      respect to any Lender at any time, an amount equal to (a) until the Closing
      Date, the aggregate amount of such Lender’s Commitments at such time and (b)
      thereafter, the sum of (i) the aggregate unpaid principal amount of such
      Lender’s Term Loans and (ii) the amount of such Lender’s Revolving Credit
      Commitment then in effect or, if the Revolving Credit Commitments have been
      terminated, the amount of such Lender’s Revolving Extensions of Credit then
      outstanding.

     

    “Aggregate
      Exposure Percentage”:
      with
      respect to any Lender, the ratio (expressed as a percentage) of such Lender’s
      Aggregate Exposure to the Aggregate Exposure of all Lenders.

     

    
      
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        2

      

    

    “Agreement”:
      as
      defined in the preamble hereto.

     

    “Alternate
      Base Rate”:
      for
      any day, a rate per annum equal to the greater of (a) the Prime Rate in effect
      on such day and (b) the Federal Funds Effective Rate in effect on such day
      plus
1⁄2 of 1%. For purposes hereof, “Prime
      Rate”
shall
      mean the rate of interest per annum publicly announced from time to time by
      the
      Administrative Agent as its prime rate in effect at its principal office in
      New
      York City (the Prime Rate not being intended to be the lowest rate of interest
      charged by the Administrative Agent in connection with extensions of credit
      to
      debtors). Any change in the Alternate Base Rate due to a change in the Prime
      Rate or the Federal Funds Effective Rate shall be effective as of the opening
      of
      business on the effective day of such change in the Prime Rate or the Federal
      Funds Effective Rate, respectively.

     

    “Applicable
      Margin”:
      for
      ABR Loans, 0.75% per annum and for Eurocurrency Loans, 1.75% per annum
provided,
      that on
      and after the first Adjustment Date occurring after the Closing Date, the
      Applicable Margin with respect to each Type of Loan shall be determined pursuant
      to the Pricing Grid.

     

    “Application”:
      an
      application, in such form as the Issuing Lender may reasonably specify from
      time
      to time, requesting the Issuing Lender to issue a Letter of Credit.

     

    “Approved
      Fund”:
      as
      defined in Section 10.6(b)(ii).

     

    “Asset
      Sale”:
      any
      Disposition of Property or series of related Dispositions of Property (excluding
      any such Disposition permitted by clause (a), (b), (c), (d), (e), (g), (h),
      (i),
      (j), (k) or (l) of Section 7.5) which yields net proceeds to the Parent Borrower
      or any of its Subsidiaries (valued at the initial principal amount thereof
      in
      the case of non-cash proceeds consisting of notes or other debt securities
      and
      valued at fair market value in the case of other non-cash proceeds) in excess
      of
      $5,000,000. 

     

    “Assignee”:
      as
      defined in Section 10.6(b)(i).

     

    “Assignment
      and Assumption”:
      an
      Assignment and Assumption, substantially in the form of Exhibit D.

     

    “Available
      Excess Cash Flow”:
      any
      amount of Excess Cash Flow which remains available after application of the
      required percentage of such Excess Cash Flow to prepayment of the Term Loans
      in
      accordance with Section 2.12(c), if required thereunder, minus
      (w)
      amounts of Excess Cash Flow that have been used to make Restricted Payments
      in
      accordance with Section 7.6, (x) amounts of Excess Cash Flow that have been
      used
      to make investments in accordance with Section 7.8(i), (y) amounts of Excess
      Cash Flow that have been used to make Permitted Business Acquisitions in
      accordance with Section 7.8(k) and (z) amounts of Excess Cash Flow that have
      been applied to the payment, prepayment, repurchase or redemption of Permitted
      Subordinated Indebtedness in accordance with Section 7.9(a) (for the avoidance
      of doubt, excluding the Convertible Senior Subordinated
      Debentures).

     

    “Available
      Revolving Credit Commitment”:
      as to
      any Revolving Credit Lender at any time, an amount equal to the excess, if
      any,
      of (a) such Lender’s Revolving Credit Commitment then in effect over
      (b) such
      Lender’s Revolving Extensions of Credit then outstanding; provided,
      that in
      calculating any Lender’s Revolving Extensions of Credit for the purpose of
      determining such Lender’s Available Revolving Commitment pursuant to Section
      2.9(a), the aggregate principal amount of Swingline Loans then outstanding
      shall
      be deemed to be zero.

     

    
      
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        3

      

    

    “Benefitted
      Lender”:
      as
      defined in Section 10.7(a).

     

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

     

    “Borrowers”:
      the
      collective reference to the Parent Borrower and the Foreign Subsidiary
      Borrowers.

     

    “Borrowing
      Date”:
      any
      Business Day specified by the Parent Borrower (on its own behalf or on behalf
      of
      a Foreign Subsidiary Borrower) as a date on which such Borrower requests the
      relevant Lenders to make Loans hereunder.

     

    “Business”:
      as
      defined in Section 4.17(b).

     

    “Business
      Day”:
      a day
      other than a Saturday, Sunday or other day on which commercial banks in New
      York
      City are authorized or required by law to close, provided,
      that
      (a) with respect to notices and determinations in connection with, and payments
      of principal and interest on, Eurocurrency Loans, such day is also a day for
      trading in London by and between banks in deposits in the relevant currency
      and
      (b) where such term is used in connection with a Eurocurrency Loan denominated
      in euros, references to “Business Day” shall be deemed to be references to any
      Target Operating Day on which banks are open for general banking business in
      the
      relevant Funding Office.

     

    “Calculation
      Date”:
      the
      third Business Day prior to the last Business Day of each calendar quarter;
      provided
      that,
      each date that is on or about the date of any borrowing request or rollover
      request with respect to any Revolving Loans denominated in an Optional Currency
      shall also be a “Calculation Date” with respect to such Optional
      Currency.

     

    “Capital
      Expenditures”:
      for
      any period, with respect to any Person, the aggregate of all expenditures by
      such Person and its Subsidiaries for the acquisition or leasing (pursuant to
      a
      capital lease) of fixed or capital assets or additions to equipment (including
      replacements, capitalized repairs and improvements during such period) which
      should be capitalized under GAAP on a consolidated balance sheet of such Person
      and its Subsidiaries.

     

    “Capital
      Lease Obligations”:
      as to
      any Person, the obligations of such Person to pay rent or other amounts under
      any lease of (or other arrangement conveying the right to use) real or personal
      property, or a combination thereof, which obligations are required to be
      classified and accounted for as capital leases on a balance sheet of such Person
      under GAAP, and, for the purposes of this Agreement, the amount of such
      obligations at any time shall be the capitalized amount thereof at such time
      determined in accordance with GAAP.

     

    “Capital
      Stock”:
      any
      and all shares, interests, participations or other equivalents (however
      designated) of capital stock of a corporation, any and all equivalent ownership
      interests in a Person (other than a corporation) and any and all warrants,
      rights or options to purchase any of the foregoing.

     

    “Cash
      Equivalents”:
      (a)
      marketable direct obligations issued by, or unconditionally guaranteed by,
      the
      United States Government or issued by any agency thereof and backed by the
      full
      faith and credit of the United States, in each case maturing within one year
      from the date of acquisition; (b) certificates of deposit, time deposits,
      eurocurrency time deposits or overnight bank deposits having maturities of
      six
      months or less from the date of acquisition issued by any

     

    
      
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    Lender
      or
      by any commercial bank organized under the laws of the United States or any
      state thereof having combined capital and surplus of not less than $500,000,000;
      (c) commercial paper of an issuer rated at least A-1 by Standard & Poor’s
      Ratings Services (“S&P”)
      or P-1
      by Moody’s Investors Service, Inc. (“Moody’s”),
      or
      carrying an equivalent rating by a nationally recognized rating agency, if
      both
      of the two named rating agencies cease publishing ratings of commercial paper
      issuers generally, and maturing within six months from the date of acquisition;
      (d) repurchase obligations of any Lender or of any commercial bank satisfying
      the requirements of clause (b) of this definition, having a term of not more
      than 30 days with respect to securities issued or fully guaranteed or insured
      by
      the United States government; (e) securities with maturities of one year or
      less
      from the date of acquisition issued or fully guaranteed by any state,
      commonwealth or territory of the United States, by any political subdivision
      or
      taxing authority of any such state, commonwealth or territory or by any foreign
      government, the securities of which state, commonwealth, territory, political
      subdivision, taxing authority or foreign government (as the case may be) are
      rated at least A by S&P or A by Moody’s; (f) securities with maturities of
      six months or less from the date of acquisition backed by standby letters of
      credit issued by any Lender or any commercial bank satisfying the requirements
      of clause (b) of this definition; (g) shares of money market mutual or similar
      funds which invest exclusively in assets satisfying the requirements of clauses
      (a) through (f) of this definition; or (h) money market funds that (i) comply
      with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act
      of
      1940, as amended, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii)
      have portfolio assets of at least $5,000,000,000.

     

    “Chattel
      Paper”:
      as
      defined in the Guarantee and Collateral Agreement.

     

    “Closing
      Date”:
      the
      date on which the conditions precedent set forth in Section 5.1 shall have
      been
      satisfied, which date is April 13, 2006.

     

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

     

    “Collateral”:
      all
      Property of the Loan Parties, now owned or hereafter acquired, upon which a
      Lien
      is purported to be created by any Security Document.

     

    “Commitment”:
      as to
      any Lender, the sum of the Tranche B Term Loan Commitment, any Incremental
      Term
      Loan Commitment and the Revolving Credit Commitment of such Lender.

     

    “Commitment
      Fee Rate”:
      the
      rate per annum set forth under the relevant column heading in the Pricing
      Grid.

     

    “Commonly
      Controlled Entity”:
      an
      entity, whether or not incorporated, which is under common control with the
      Parent Borrower within the meaning of Section 4001 of ERISA or is part of a
      group which includes the Parent Borrower and which is treated as a single
      employer under Section 414 of the Code.

     

    “Compliance
      Certificate”:
      a
      certificate duly executed by a Responsible Officer substantially in the form
      of
      Exhibit B.

     

    “Confidential
      Information Memorandum”:
      the
      Confidential Information Memorandum dated March 2006 and furnished to the
      Lenders and identified as such by the Parent Borrower.

     

    “Consolidated
      Current Assets”:
      at any
      date, all amounts (other than cash and Cash Equivalents) that would, in
      conformity with GAAP, be set forth opposite the caption “total

     

    
      
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    current
      assets” (or any like caption) on a consolidated balance sheet of the Parent
      Borrower and its Subsidiaries at such date.

     

    “Consolidated
      Current Liabilities”:
      at any
      date, all amounts that would, in conformity with GAAP, be set forth opposite
      the
      caption “total current liabilities” (or any like caption) on a consolidated
      balance sheet of the Parent Borrower and its Subsidiaries at such date, but
      excluding (a) the current portion of any Funded Debt of the Parent Borrower
      and
      its Subsidiaries and (b) without duplication of clause (a) above, all
      Indebtedness consisting of Revolving Credit Loans or Swingline Loans to the
      extent otherwise included therein.

     

    “Consolidated
      EBITDA”:
      for
      any period, Consolidated Net Income for such period plus,
      without
      duplication and to the extent reflected as a charge in the statement of such
      Consolidated Net Income for such period, the sum of (a) income tax expense,
      (b)
      interest expense, amortization or writeoff of debt discount and debt issuance
      costs and commissions, discounts and other fees and charges associated with
      Indebtedness (including the Loans), (c) depreciation and amortization expense,
      (d) amortization of intangibles (including, but not limited to, goodwill) and
      organization costs, (e) any extraordinary, unusual or non-recurring expenses
      or
      losses (including, whether or not otherwise includable as a separate item in
      the
      statement of such Consolidated Net Income for such period, losses on sales
      of
      assets outside of the ordinary course of business) and (f) any other non-cash
      charges (including but not limited to expenses relating to stock options),
      and
minus,
      to the
      extent included in the statement of such Consolidated Net Income for such
      period, the sum of (a) interest income, (b) any extraordinary, unusual or
      non-recurring income or gains (including, whether or not otherwise includable
      as
      a separate item in the statement of such Consolidated Net Income for such
      period, gains on the sales of assets outside of the ordinary course of business)
      and (c) any other non-cash income, all as determined on a consolidated
      basis.

     

    “Consolidated
      Fixed Charge Coverage Ratio”:
      for
      any period, the ratio of (a) Consolidated EBITDA for such period less the
      aggregate amount actually paid by the Parent Borrower and its Subsidiaries
      in
      cash during such period on account of Capital Expenditures to (b) Consolidated
      Fixed Charges for such period.

     

    “Consolidated
      Fixed Charges”:
      for
      any period, the sum (without duplication) of (a) Consolidated Interest Expense
      for such period and (b) scheduled payments made during such period on account
      of
      principal of Funded Debt of the Parent Borrower or any of its Subsidiaries
      (including scheduled principal payments in respect of the Term Loans, except
      as
      provided below, but excluding (i) principal payments in respect of the Revolving
      Credit Loans or Swingline Loans, (ii) principal payments in respect of the
      Tranche B Term Loans, (iii) principal payments made to refinance the outstanding
      loans under the Previous Credit Agreement in connection with the amendment
      and
      restatement as set forth in this Agreement and (iv) principal payments in
      respect of the Receivables Transfer Program). For the avoidance of doubt,
“Consolidated Fixed Charges” shall not include any payments made on account of
      principal of Funded Debt of the Parent Borrower and its Subsidiaries as a result
      of a mandatory prepayment thereof.

     

    “Consolidated
      Interest Expense”:
      for
      any period, total interest expense (including that attributable to Capital
      Lease
      Obligations) of the Parent Borrower and its Subsidiaries for such period with
      respect to all outstanding Indebtedness of the Parent Borrower and its
      Subsidiaries (including, without limitation, all commissions, discounts and
      other fees and charges owed with respect to letters of credit and bankers’
acceptance financing and net costs (or gains) under Swap Agreements to the
      extent such net costs (or gains) are allocable to such periods in accordance
      with GAAP).

     

    
      
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    “Consolidated
      Leverage Ratio”:
      as at
      the last day of any period of four consecutive fiscal quarters, the ratio of
      (a)
      (x) Consolidated Total Debt plus
      (y) to
      the extent not otherwise included therein, the aggregate outstanding attributed
      principal amount under any Receivables Transfer Program incurred in accordance
      with Section 7.2(l) (without regard to whether or not such amount is incurred
      by
      or attributed to a Loan Party or whether or not it is reflected in the
      consolidated balance sheet of the Parent Borrower and its Subsidiaries), on
      such
      day to (b) Consolidated EBITDA for such period; provided
      that for
      purposes of calculating Consolidated EBITDA of the Parent Borrower and its
      Subsidiaries for any period, (i) if during such period the Parent Borrower
      or
      any Subsidiary shall have made a Material Acquisition, Consolidated EBITDA
      for
      such period shall be calculated after giving pro forma
      effect
      thereto (assuming the consummation of each such Material Acquisition and the
      incurrence or assumption of any Indebtedness in connection therewith occurred
      on
      the first day of such period), and if any such Material Acquisition was of
      a
      Person, if the consolidated balance sheet of such acquired Person and its
      consolidated Subsidiaries as at the end of the period preceding the acquisition
      of such Person and the related consolidated statements of income and
      stockholders’ equity and of cash flows for the period in respect of which
      Consolidated EBITDA is to be calculated (1) have been previously provided to
      the
      Administrative Agent and the Lenders and (2) either (A) have been reported
      on
      without a qualification arising out of the scope of the audit by independent
      certified public accountants of nationally recognized standing or (B) have
      been
      found acceptable by the Administrative Agent, and (ii) if during such period
      the
      Parent Borrower or any Subsidiary shall have made a Material Disposition,
      Consolidated EBITDA for such period shall be reduced by an amount equal to
      the
      Consolidated EBITDA (if positive) attributable to the Property that is the
      subject of such Material Disposition for such period or increased by an amount
      equal to the Consolidated EBITDA (if negative) attributable thereto for such
      period (and, if any amount of cash from the proceeds of such Material
      Disposition remains after deducting from such proceeds the aggregate amount
      of
      all outstanding Revolving Credit Loans and the amount of such proceeds
      reinvested by the Parent Borrower and its Subsidiaries, such remaining amount
      shall be deducted from the amount of Consolidated Total Debt for such period).
      

     

    “Consolidated
      Net Income”:
      for
      any period, the consolidated net income (or loss) of the Parent Borrower and
      its
      Subsidiaries, determined on a consolidated basis in accordance with GAAP;
provided
      that
      there shall be excluded (a) the income (or deficit) of any Person accrued prior
      to the date it becomes a Subsidiary of the Parent Borrower or is merged into
      or
      consolidated with the Parent Borrower or any of its Subsidiaries, (b) the income
      (or deficit) of any Person (other than a Subsidiary of the Parent Borrower)
      in
      which the Parent Borrower or any of its Subsidiaries has an ownership interest,
      except to the extent that any such income is actually received by the Parent
      Borrower or such Subsidiary in the form of dividends or similar distributions
      and (c) the undistributed earnings of any Subsidiary of the Parent Borrower
      to
      the extent that the declaration or payment of dividends or similar distributions
      by such Subsidiary is prohibited by the terms of any Contractual Obligation
      (other than under any Loan Document) or Requirement of Law applicable to such
      Subsidiary.

     

    “Consolidated
      Senior Debt”:
      all
      Consolidated Total Debt, other than the Convertible Senior Subordinated
      Debentures and any Permitted Subordinated Indebtedness.

     

    “Consolidated
      Senior Debt Leverage Ratio”:
      as at
      the last day of any period of four consecutive fiscal quarters, the ratio of
      (a)
      (x) Consolidated Senior Debt plus
      (y) to
      the extent not otherwise included therein, the aggregate outstanding attributed
      principal amount under any Receivables Transfer Program incurred in accordance
      with Section 7.2(l) (without regard to whether or not such amount is incurred
      by
      or attributed to a Loan Party or whether or not it is reflected in the
      consolidated balance sheet of the Parent Borrower and its Subsidiaries), on
      such

     

    
      
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    day
      to
      (b) Consolidated EBITDA for such period; provided
      that,
      for purposes of calculating Consolidated EBITDA of the Parent Borrower and
      its
      Subsidiaries for any period, (i) if during such period the Parent Borrower
      or
      any Subsidiary shall have made a Material Acquisition, Consolidated EBITDA
      for
      such period shall be calculated after giving pro forma
      effect
      thereto (assuming the consummation of each such Material Acquisition and the
      incurrence or assumption of any Indebtedness in connection therewith occurred
      on
      the first day of such period), and if any such Material Acquisition was of
      a
      Person, if the consolidated balance sheet of such acquired Person and its
      consolidated Subsidiaries as at the end of the period preceding the acquisition
      of such Person and the related consolidated statements of income and
      stockholders’ equity and of cash flows for the period in respect of which
      Consolidated EBITDA is to be calculated (1) have been previously provided to
      the
      Administrative Agent and the Lenders and (2) either (A) have been reported
      on
      without a qualification arising out of the scope of the audit by independent
      certified public accountants of nationally recognized standing or (B) have
      been
      found acceptable by the Administrative Agent, and (ii) if during such period
      the
      Parent Borrower or any Subsidiary shall have made a Material Disposition,
      Consolidated EBITDA for such period shall be reduced by an amount equal to
      the
      Consolidated EBITDA (if positive) attributable to the Property that is the
      subject of such Material Disposition for such period or increased by an amount
      equal to the Consolidated EBITDA (if negative) attributable thereto for such
      period (and, if any amount of cash from the proceeds of such Material
      Disposition remains after deducting from such proceeds the aggregate amount
      of
      all outstanding Revolving Credit Loans and the amount of such proceeds
      reinvested by the Parent Borrower and its Subsidiaries, such remaining amount
      shall be deducted from the amount of Consolidated Senior Debt for such
      period).

     

    “Consolidated
      Total Tangible Assets”:
      as of
      any date of determination thereof, the aggregate consolidated book value of
      the
      assets of the Parent Borrower and its Subsidiaries (other than patents, patent
      rights, trademarks, trade names, franchises, copyrights, licenses, permits,
      goodwill and other similar intangible assets properly classified as such in
      accordance with GAAP) after all appropriate adjustments in accordance with
      GAAP
      (including, without limitation, reserves for doubtful receivables, obsolescence,
      depreciation and amortization).

     

    “Consolidated
      Total Debt”:
      at any
      date, the aggregate principal amount of all Funded Debt of the Parent Borrower
      and its Subsidiaries at such date, determined on a consolidated basis in
      accordance with GAAP.

     

    “Consolidated
      Working Capital”:
      at any
      date, the excess of Consolidated Current Assets on such date over
      Consolidated Current Liabilities on such date.

     

    “Continuing
      Directors”:
      the
      directors of the Parent Borrower on the Closing Date, and each other director,
      if, in each case, such other director’s nomination for election to the board of
      directors of the Parent Borrower is recommended by at least 66-2/3% of the
      then
      Continuing Directors.

     

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

     

    “Convertible
      Senior Subordinated Debentures”:
      the
      Parent Borrower’s 21⁄2% Convertible Senior Subordinated Debentures due
      2024.

     

    “Convertible
      Senior Subordinated Debentures Indenture”:
      the
      Indenture entered into in connection with the issuance of the Convertible Senior
      Subordinated Debentures. 

     

    
      
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    “Default”:
      any of
      the events specified in Article VIII, whether or not any requirement for the
      giving of notice, the lapse of time, or both, has been satisfied.

     

    “Disposition”:
      with
      respect to any Property, any sale, lease, sale and leaseback, assignment,
      conveyance, transfer or other disposition thereof. The terms “Dispose”
and
      “Disposed
      of”
shall
      have correlative meanings.

     

    “Dollar
      Equivalent”:
      at any
      time as to any amount denominated in an Optional Currency, the equivalent amount
      in Dollars as determined by the Administrative Agent at such time on the basis
      of the Exchange Rate for the purchase of Dollars with such Optional Currency
      on
      the most recent Calculation Date for such Optional Currency.

     

    “Dollars”
and
      “$”:
      dollars in lawful currency of the United States.

     

    “Domestic
      Subsidiary”:
      any
      Subsidiary of the Parent Borrower organized under the laws of any jurisdiction
      within the United States; provided
      that,
      for purposes of this Agreement, none of (i) CONMED Receivables Corporation,
      its
      successors and permitted transferees, or any other single purpose corporation
      formed and operating solely in connection with a Receivables Transfer Program
      permitted under this Agreement, so long as the grant of a security interest
      in
      the Capital Stock of such Subsidiary is prohibited under such Receivables
      Transfer Program, (ii) GWH, Ltd., Largo Lakes - I Limited Partnership or their
      respective successors and permitted transferees, so long as the Capital Stock
      and all of the property of each such Subsidiary is held and is subject to a
      security interest granted in connection with the acquisition of the Largo,
      Florida facility or (iii) Largo Realty, LLC, so long as it holds only the
      property held by it on the Closing Date, shall be deemed to be a Domestic
      Subsidiary or a Foreign Subsidiary.

     

    “EUR”
and
      “euro”:
      means
      the single currency unit of the Participating Member States.

     

    “Environmental
      Laws”:
      any
      and all foreign, Federal, state, local or municipal laws, rules, orders,
      regulations, statutes, ordinances, codes, decrees, legally binding requirements
      of any Governmental Authority or other Requirements of Law (including common
      law) regulating, relating to or imposing liability or standards of conduct
      concerning the protection of human health or the environment, as now or may
      at
      any time hereafter be in effect.

     

    “Equipment”:
      as
      defined in the Guarantee and Collateral Agreement.

     

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

     

    “Eurocurrency
      Base Rate”:
      with
      respect to each day during each Interest Period pertaining to a Eurocurrency
      Loan, the rate per annum determined on the basis of the rate for deposits in
      the
      relevant currency for a period equal to such Interest Period commencing on
      the
      first day of such Interest Period appearing on the relevant page of the Telerate
      screen as of 11:00 A.M., Local Time, on the Quotation Day for such Interest
      Period. In the event that such rate does not appear on the Telerate screen,
      the
“Eurocurrency Base Rate” shall be determined by reference to such other
      comparable publicly available service for displaying eurocurrency rates as
      may
      be reasonably selected by the Administrative Agent or, in the absence of such
      availability, by reference to the rate at which the Administrative Agent is
      offered deposits in the relevant currency at or about 11:00 A.M., Local Time,
      two Business Days prior to the beginning of such Interest Period in the
      interbank eurocurrency market where its relevant eurocurrency and
      foreign

     

    
      
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    currency
      and exchange operations are then being conducted for delivery on the first
      day
      of such Interest Period for the number of days comprised therein.

     

    “Eurocurrency
      Loans”:
      Loans
      the rate of interest applicable to which is based upon the Eurocurrency
      Rate.

     

    “Eurocurrency
      Rate”:
      with
      respect to each day during each Interest Period pertaining to a Eurocurrency
      Loan, a rate per annum determined for such day in accordance with the following
      formula (rounded upward to the nearest 1/100th of 1%); provided
      that, in
      the case of any Eurocurrency Loan denominated in Sterling or euros, such rate
      shall be increased to provide for the customary mandatory cost formula addition
      as determined by the Administrative Agent in accordance with its normal
      practices:

     

    
      	
              Eurocurrency
                Base Rate

            
	
              1.00
                - Eurocurrency Reserve Requirements

            

    

     

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

     

    “Eurocurrency
      Tranche”:
      the
      collective reference to Eurocurrency Loans under a particular Facility and
      the
      then current Interest Periods with respect to all of which begin on the same
      date and end on the same later date (whether or not such Loans shall originally
      have been made on the same day).

     

    “Event
      of Default”:
      any of
      the events specified in Section 8, provided
      that any
      requirement for the giving of notice, the lapse of time, or both, has been
      satisfied.

     

    “Excess
      Cash Flow”:
      for
      any fiscal year of the Parent Borrower, the excess, if any, of (a) the sum,
      without duplication, of (i) Consolidated Net Income for such fiscal year, (ii)
      the amount of all non-cash charges (including depreciation and amortization)
      deducted in arriving at such Consolidated Net Income, (iii) decreases in
      Consolidated Working Capital for such fiscal year (but excluding any such
      decrease in connection with an increase in the size of the Receivables Transfer
      Program), and (iv) the aggregate net amount of non-cash loss on the Disposition
      of property by the Parent Borrower and its Subsidiaries during such fiscal
      year
      (other than sales of inventory in the ordinary course of business), to the
      extent deducted in arriving at such Consolidated Net Income over
      (b) the
      sum, without duplication, of (i) the amount of all non-cash credits included
      in
      arriving at such Consolidated Net Income, (ii) the aggregate amount actually
      paid by the Parent Borrower and its Subsidiaries in cash during such fiscal
      year
      on account of Capital Expenditures (excluding the principal amount of
      Indebtedness incurred in connection with such expenditures and any such
      expenditures financed with the proceeds of any Reinvestment Deferred Amount),
      (iii) the aggregate amount of all payments of Revolving Credit Loans and
      Swingline Loans during such fiscal year to the extent accompanying permanent
      reductions of the Revolving Credit Commitments and all prepayments of the Term
      Loans during such fiscal year, (iv) the aggregate amount of all regularly
      scheduled principal payments of

     

    
      
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    Funded
      Debt (including the Term Loans) of the Parent Borrower and its Subsidiaries
      made
      during such fiscal year (other than in respect of any revolving credit facility
      to the extent there is not an equivalent permanent reduction in commitments
      thereunder), (v) for purposes of Section 2.12(c) only, the
      aggregate amount of Convertible Senior Subordinated Debentures repaid,
      repurchased or redeemed during such fiscal year out of funds other than Term
      Loans borrowed hereunder, (vi) increases
      in Consolidated Working Capital for such fiscal year, (vii) the aggregate net
      amount of non-cash gain on the Disposition of property by the Parent Borrower
      and its Subsidiaries during such fiscal year (other than sales of inventory
      in
      the ordinary course of business), to the extent included in arriving at such
      Consolidated Net Income and (viii) the aggregate amount actually paid by the
      Parent Borrower and its Subsidiaries in connection with a Permitted Business
      Acquisition to the extent not paid through the incurrence of Indebtedness or
      issuance of Capital Stock.

     

    “Excess
      Cash Flow Application Date”:
      as
      defined in Section 2.12(c).

     

    “Excess
      Cash Flow Percentage”:
      the
      percentage determined in accordance with the chart set forth below:

     

    
      	
              Consolidated
                Leverage Ratio

            	
              Excess
                Cash Flow Percentage

            
	 	 
	
              Less
                than 2.75

            	
              0%

            
	
              2.75
                to, but not including, 3.25

            	
              25%

            
	
              3.25
                or greater

            	
              50%

            

    

     

    “Exchange
      Rate”:
      on any
      day, with respect to any Optional Currency, the rate at which such Optional
      Currency may be exchanged into Dollars, as set forth at approximately 11:00
      A.M., Local Time, on such day on the applicable Reuters World Spot Page. In
      the
      event that any such rate does not appear on any Reuters World Spot Page, the
      Exchange Rate shall be determined by reference to such other publicly available
      service for displaying exchange rates reasonably selected by the Administrative
      Agent in consultation with the Parent Borrower for such purpose or, at the
      discretion of the Administrative Agent in consultation with the Parent Borrower,
      such Exchange Rate shall instead be the arithmetic average of the spot rates
      of
      exchange of the Administrative Agent in the market where its foreign currency
      exchange operations in respect of such Optional Currency are then being
      conducted, at or about 11:00 A.M., Local Time, on such day for the purchase
      of
      the applicable Optional Currency for delivery three Business Days later,
provided
      that, if
      at the time of any such determination, for any reason, no such spot rate is
      being quoted, the Administrative Agent may use any other reasonable method
      it
      deems appropriate to determine such rate, and such determination shall be
      presumed correct absent manifest error.

     

    “Excluded
      Foreign Subsidiaries”:
      any
      Foreign Subsidiary in respect of which either (i) the pledge of all of the
      Capital Stock of such Subsidiary as Collateral or (ii) the guaranteeing by
      such
      Subsidiary of the Obligations, would, in the good faith judgment of the Parent
      Borrower, result in adverse tax consequences to the Parent
      Borrower.

     

    “Existing
      Facility Letters of Credit”:
      as
      defined in Section 3.9. 

     

    “Facility”:
      each
      of (a) the Tranche B Term Loan Commitments and the Tranche B Term Loans made
      thereunder (the “Tranche
      B Term Loan Facility”),
      (b) the Incremental Term Loan Commitments and the Incremental Term Loans
      made thereunder (the “Incremental
      Term Loan

     

    
      
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    Facility”),
      and
      (c) the Revolving Credit Commitments and the extensions of credit made
      thereunder (the “Revolving
      Credit Facility”).

     

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

     

    “First
      Amendment to Guarantee and Collateral Agreement”:
      the
      First Amendment to the Guarantee and Collateral Agreement dated as of June
      30,
      2003, substantially in the form of Exhibit A-2.

     

    “Foreign
      Subsidiary”:
      any
      Subsidiary of the Parent Borrower that is not a Domestic
      Subsidiary.

     

    “Foreign
      Subsidiary Borrowers”:
      any
      Wholly-Owned Foreign Subsidiary with respect to which the conditions set forth
      in Section 2.25 shall have been satisfied.

     

    “Funded
      Debt”:
      as to
      any Person, all Indebtedness of such Person of the types described in clauses
      (a)-(e) of the definition of Indebtedness.

     

    “Funding
      Office”:
      the
      office of the Administrative Agent set forth in Section 10.2.

     

    “GAAP”:
      generally accepted accounting principles applicable in the United States for
      reporting entities domiciled in the United States as in effect from time to
      time, except that for purposes of Section 7.1 and any financial covenant
      calculation in Section 2.12, GAAP shall be determined on the basis of such
      principles in effect on the date hereof and consistent with those used in the
      preparation of the most recent audited financial statements delivered pursuant
      to Section 4.1(b).

     

    “Governmental
      Authority”:
      any
      nation or government, any state or other political subdivision thereof and
      any
      entity exercising executive, legislative, judicial, regulatory or administrative
      functions of government (including, without limitation, any securities exchange
      or self-regulatory organization).

     

    “Guarantee
      and Collateral Agreement”:
      the
      Guarantee and Collateral Agreement dated as of August 28, 2002 and attached
      hereto as Exhibit A-1, as amended by the First Amendment to Guarantee and
      Collateral Agreement and Second Amendment to Guarantee and Collateral Agreement,
      together with the Acknowledgement and Consent.

     

    “Guarantee
      Obligation”:
      as to
      any Person (the “guaranteeing
      person”),
      any
      obligation of (a) the guaranteeing person or (b) another Person (including,
      without limitation, any bank under any letter of credit) to induce the creation
      of which the guaranteeing person has issued a reimbursement, counterindemnity
      or
      similar obligation, in either case guaranteeing or in effect guaranteeing any
      Indebtedness, leases, dividends or other obligations (the “primary
      obligations”)
      of any
      other third Person (the “primary
      obligor”)
      in any
      manner, whether directly or indirectly, including, without limitation, any
      obligation of the guaranteeing person, whether or not contingent, (i) to
      purchase any such primary obligation or any Property constituting direct or
      indirect security therefor, (ii) to advance or supply funds (1) for the purchase
      or payment of any

     

    
      
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    such
      primary obligation or (2) to maintain working capital or equity capital of
      the
      primary obligor or otherwise to maintain the net worth or solvency of the
      primary obligor, (iii) to purchase Property, securities or services primarily
      for the purpose of assuring the owner of any such primary obligation of the
      ability of the primary obligor to make payment of such primary obligation or
      (iv) otherwise to assure or hold harmless the owner of any such primary
      obligation against loss in respect thereof; provided,
      however,
      that
      the term Guarantee Obligation shall not include endorsements of instruments
      for
      deposit or collection in the ordinary course of business. The amount of any
      Guarantee Obligation of any guaranteeing person shall be deemed to be the lower
      of (a) an amount equal to the stated or determinable amount of the primary
      obligation in respect of which such Guarantee Obligation is made and (b) the
      maximum amount for which such guaranteeing person may be liable pursuant to
      the
      terms of the instrument embodying such Guarantee Obligation, unless such primary
      obligation and the maximum amount for which such guaranteeing person may be
      liable are not stated or determinable, in which case the amount of such
      Guarantee Obligation shall be such guaranteeing person’s maximum reasonably
      anticipated liability in respect thereof as determined by the Parent Borrower
      in
      good faith.

     

    “Increased
      Facility Activation Date”:
      any
      Business Day on which any Lender shall execute and deliver to the Administrative
      Agent an Increased Facility Activation Notice pursuant to Section 2.1(b) or
      Section 2.4(c).

     

    “Increased
      Facility Activation Notice”:
      a
      notice substantially in the form of Exhibit G.

     

    “Increased
      Facility Closing Date”:
      any
      Business Day designated as such in an Increased Facility Activation
      Notice.

     

    “Incremental
      Term Loan Commitment”:
      as to
      any Lender, the obligation of such Lender, if any, to make an Incremental Term
      Loan to the Parent Borrower hereunder in a principal amount not to exceed the
      amount set forth in the applicable Increased Facility Activation
      Notice.

     

    “Incremental
      Term Loan Facility”:
      as
      defined in the definition of “Facility”.

     

    “Incremental
      Term Loan Lenders”:
      (a) on any Increased Facility Activation Date relating to Incremental Term
      Loans, the Lenders signatory to the relevant Increased Facility Activation
      Notice and (b) thereafter, each Lender that is a holder of an Incremental
      Term Loan.

     

    “Incremental
      Term Loans”:
      as
      defined in Section 2.1(a).

     

    “Incremental
      Term Loan Percentage”:
      as to
      any Lender, the percentage which the aggregate principal amount of such Lender’s
      Incremental Term Loans then outstanding constitutes of the aggregate principal
      amount of the Incremental Term Loans then outstanding.

     

    “Incremental
      Term Maturity Date”:
      with
      respect to the Incremental Term Loans to be made pursuant to any Increased
      Facility Activation Notice, the maturity date specified in such Increased
      Facility Activation Notice, which date shall be on or after the final maturity
      date of the Tranche B Term Loans.

     

    “Indebtedness”:
      of any
      Person at any date, 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 current trade payables incurred in
      the
      ordinary course of such Person’s business, and overdue trade payables incurred
      in the ordinary course of such Person’s business to the extent the amount or
      validity thereof is currently being contested in good

     

    
      
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    faith
      by
      appropriate procedures and reserves in conformity with GAAP with respect thereto
      have been provided on the books of the Parent Borrower or its Subsidiaries,
      as
      the case may be), (c) all obligations of such Person evidenced by notes, bonds,
      debentures or other similar instruments, (d) all indebtedness 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 Capital Lease Obligations of
      such Person (the amount of which shall be calculated without regard to imputed
      interest), (f) all obligations of such Person, contingent or otherwise, as
      an
      account party under acceptance, letter of credit or similar facilities, (g)
      all
      obligations of such Person, contingent or otherwise, to purchase, redeem, retire
      or otherwise acquire for value any Capital Stock (other than common stock)
      of
      such Person, (h) all Guarantee Obligations of such Person in respect of
      obligations of the kind referred to in clauses (a) through (g) above to the
      extent quantified as liabilities, contingent obligations or like term in
      accordance with GAAP on the balance sheet (including notes thereto) of such
      Person; (i) all obligations of the kind referred to in clauses (a) through
      (h)
      above secured by (or for which the holder of such obligation 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, whether or not such Person has assumed or become liable for the payment
      of such obligation (but only to the extent of the fair market value of such
      Property); (j) for purposes of Section 8(e), all obligations of such Person
      in
      respect of Swap Agreements and (k) the liquidation value of any preferred
      Capital Stock of such Person or its Subsidiaries held by any Person other than
      such Person and its Wholly-Owned Subsidiaries.

     

    “Insolvency”:
      with
      respect to any Multiemployer Plan, the condition that such Plan is insolvent
      within the meaning of Section 4245 of ERISA.

     

    “Insolvent”:
      pertaining to a condition of Insolvency.

     

    “Instrument”:
      as
      defined in the Guarantee and Collateral Agreement.

     

    “Intellectual
      Property”:
      the
      collective reference to all rights, priorities and privileges relating to
      intellectual property, whether arising under United States, multinational or
      foreign laws or otherwise, including, without limitation, copyrights, copyright
      licenses, patents, patent licenses, trademarks, trademark licenses, technology,
      know-how and processes, and all rights to sue at law or in equity for any
      infringement or other impairment thereof, including the right to receive all
      proceeds and damages therefrom.

     

    “Interest
      Payment Date”:
      (a) as
      to any ABR Loan (other than any Swingline Loan), the last Business Day of each
      March, June, September and December to occur while such Loan is outstanding
      and
      the final maturity date of such Loan, (b) as to any Eurocurrency Loan having
      an
      Interest Period of three months or less, the last day of such Interest Period,
      (c) as to any Eurocurrency Loan having an Interest Period longer than three
      months, each day which is three months, or a whole multiple thereof, after
      the
      first day of such Interest Period and the last day of such Interest Period,
      (d)
      as to any Loan (other than any Revolving Credit Loan that is an ABR Loan or
      any
      Swingline Loan), the date of any repayment or prepayment made in respect thereof
      and (e) as to any Swingline Loan, the day that such Loan is required to be
      repaid.

     

    “Interest
      Period”:
      as to
      any Eurocurrency Loan, (a) initially, the period commencing on the borrowing
      or
      conversion date, as the case may be, with respect to such Eurocurrency Loan
      and
      ending one, two, three or six months thereafter, as selected by the Parent
      Borrower in its notice of borrowing or notice of conversion, as the case may
      be,
      given with respect thereto; and

     

    
      
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    (b)
      thereafter, each period commencing on the last day of the next preceding
      Interest Period applicable to such Eurocurrency Loan and ending one, two, three
      or six, as selected by the Parent Borrower by irrevocable notice to the
      Administrative Agent not less than three Business Days prior to the last day
      of
      the then current Interest Period with respect thereto; provided
      that all
      of the foregoing provisions relating to Interest Periods are subject to the
      following:

     

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

     

    (b) any
      Interest Period that would otherwise extend beyond the Revolving Credit
      Termination Date or beyond the date final payment is due on the Tranche B Term
      Loans or any Incremental Term Loan, as the case may be, shall end on the
      Revolving Credit Termination Date or such due date, as applicable;

     

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

     

    (d) the
      relevant Borrower shall use reasonable efforts to select Interest Periods so
      as
      not to require a payment or prepayment of any Eurocurrency Loan during an
      Interest Period for such Loan.

     

    Notwithstanding
      the foregoing, each Interest Period for Revolving Credit Loans in an Optional
      Currency as to which the Overnight Eurocurrency Rate shall apply shall commence
      on a Business Day and end on the next succeeding Business Day.

     

    “Inventory”:
      as
      defined in the Guarantee and Collateral Agreement.

     

    “Issuing
      Lender”:
      JPMorgan Chase Bank, N.A., in its capacity as issuer of any Letter of
      Credit..

     

    “L/C
      Commitment”:
      $20,000,000.

     

    “L/C
      Fee Payment Date”:
      the
      last day of each March, June, September and December and the Revolving Credit
      Termination Date.

     

    “L/C
      Obligations”:
      at any
      time, an amount equal to the sum of (a) the aggregate then undrawn and unexpired
      amount of the then outstanding Letters of Credit and (b) the aggregate amount
      of
      drawings under Letters of Credit which have not then been reimbursed pursuant
      to
      Section 3.5.

     

    “L/C
      Participants”:
      collectively, all the Revolving Credit Lenders other than the Issuing
      Lender.

     

    “Lenders”:
      as
      defined in the preamble hereto.

     

    “Letters
      of Credit”:
      as
      defined in Section 3.1(a).

     

    
      
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    “Lien”:
      any
      mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance,
      lien (statutory or other), charge or other security interest or any preference,
      priority or other security agreement or preferential arrangement of any kind
      or
      nature whatsoever (including, without limitation, any conditional sale or other
      title retention agreement and any capital lease having substantially the same
      economic effect as any of the foregoing).

     

    “Linvatec”:
      Linvatec Corporation, a Florida corporation and a Wholly-Owned Subsidiary of
      the
      Parent Borrower.

     

    “Loan”:
      any
      loan made by any Lender pursuant to this Agreement.

     

    “Loan
      Documents”:
      this
      Agreement, the Security Documents, the Applications and the Notes.

     

    “Loan
      Parties”:
      the
      Parent Borrower and each Subsidiary of the Parent Borrower which is a party
      to a
      Loan Document.

     

    “Local
      Time”:
      (a)
      with respect to Loans denominated in Sterling or in euros, London time and
      (b)
      for all other purposes, New York City time. 

     

    “Majority
      Facility Lenders”:
      with
      respect to any Facility, the holders of more than 50% of the aggregate unpaid
      principal amount of the Term Loans or the Total Revolving Extensions of Credit,
      as the case may be, outstanding under such Facility (or, in the case of the
      Revolving Credit Facility, prior to any termination of the Revolving Credit
      Commitments, the holders of more than 50% of the Total Revolving Credit
      Commitments).

     

    “Majority
      Revolving Credit Facility Lenders”:
      the
      Majority Facility Lenders in respect of the Revolving Credit
      Facility.

     

    “Material
      Acquisition”:
      any
      acquisition of Property or series of related acquisitions of Property that
      (x)
      constitutes assets comprising all or substantially all of an operating unit
      or a
      business, line of business or product line or constitutes all or substantially
      all of the common stock of a Person and (y) involves the payment of
      consideration by the Parent Borrower and its Subsidiaries in excess of
      $5,000,000. 

     

    “Material
      Adverse Effect”:
      a
      material adverse effect on (a) the business, results of operations, assets
      or
      financial position of the Parent Borrower and its Subsidiaries taken as a whole,
      (b) the validity or enforceability of this Agreement or any of the other
      Loan Documents or the rights or remedies of the Administrative Agent or the
      Lenders hereunder or thereunder or (c) the ability of the Parent Borrower to
      perform any of its obligations under this Agreement.

     

    “Material
      Disposition”:
      any
      Disposition of Property or series of related Dispositions of Property that
      yields net proceeds to the Parent Borrower and its Subsidiaries in excess of
      $5,000,000.

     

    “Material
      Domestic Subsidiary”:
      at any
      time, (a) any Domestic Subsidiary (i) which is directly owned by the
      Parent Borrower or any Subsidiary and (ii) with respect to which either
      (A) its annual revenues exceed $5,000,000 for the most recently ended
      twelve-month period or (B) its total assets, as determined in accordance
      with GAAP, at such time is greater than $5,000,000 and (b) any Domestic
      Subsidiary which has incurred Indebtedness in excess of $1,000,000; provided
      that
      (x) the aggregate annual revenues of all non-Material Domestic

     

    
      
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    Subsidiaries
      shall not exceed $10,000,000 for the most recently ended twelve-month period,
      and (y) the aggregate total assets of all non-Material Domestic
      Subsidiaries, as determined in accordance with GAAP, shall not exceed
      $10,000,000 at any one time. 

     

    “Material
      Foreign Subsidiary”:
      at any
      time, any Foreign Subsidiary (i) which is directly owned by the Parent
      Borrower or any Subsidiary and (ii) with respect to which either
      (A) its annual pre-tax income exceeds $7,500,000 for the most recently
      ended twelve-month period or (B) its total assets, as determined in
      accordance with GAAP, at such time is greater than $7,500,000; provided
      that
      (x) the aggregate pre-tax income of all non-Material Foreign Subsidiaries
      shall not exceed $25,000,000 for the most recently ended twelve-month period,
      and (y) the aggregate total assets of all non-Material Foreign
      Subsidiaries, as determined in accordance with GAAP, shall not exceed
      $40,000,000.

     

    “Materials
      of Environmental Concern”:
      any
      gasoline or petroleum (including crude oil or any fraction thereof) or petroleum
      products or any hazardous or toxic substances, materials or wastes, defined
      or
      to the extent regulated as such in or under any applicable Environmental Law,
      including, without limitation, asbestos, polychlorinated biphenyls and
      urea-formaldehyde insulation.

     

    “Multiemployer
      Plan”:
      a Plan
      which is a multiemployer plan as defined in Section 4001(a)(3) of
      ERISA.

     

    “Net
      Cash Proceeds”:
      (a) in
      connection with any Asset Sale or any Recovery Event, the proceeds thereof
      in
      the form of cash and Cash Equivalents (including any such proceeds received
      by
      way of deferred payment of principal pursuant to a note or installment
      receivable or purchase price adjustment receivable or otherwise, but only as
      and
      when received) of such Asset Sale or Recovery Event, net of attorneys’ fees,
      accountants’ fees, investment banking fees, amounts required to be applied to
      the repayment of Indebtedness secured by a Lien expressly permitted hereunder
      on
      any asset which is the subject of such Asset Sale or Recovery Event (other
      than
      any Lien pursuant to a Security Document) and other customary fees and expenses
      actually incurred in connection therewith and net of taxes paid or reasonably
      estimated to be payable as a result thereof (after taking into account any
      available tax credits or deductions and any tax sharing arrangements) and (b)
      in
      connection with any issuance or sale of equity securities or debt securities
      or
      instruments or the incurrence of loans, the cash proceeds received from such
      issuance or incurrence, net of attorneys’ fees, investment banking fees,
      accountants’ fees, underwriting discounts and commissions and other customary
      fees and expenses actually incurred in connection therewith.

     

    “New
      Lender”:
      as
      defined in Section 2.1(c).

     

    “New
      Lender Supplement”:
      as
      defined in Section 2.1(c).

     

    “Non-Excluded
      Taxes”:
      as
      defined in Section 2.20(a).

     

    “Non-U.S.
      Lender”:
      as
      defined in Section 2.20(d).

     

    “Notes”:
      collectively, any promissory note evidencing Loans.

     

    “Obligations”:
      the
      unpaid principal of and interest on (including, without limitation, interest
      accruing after the maturity of the Loans and Reimbursement Obligations and
      interest accruing after the filing of any petition in bankruptcy, or the
      commencement of any insolvency,

     

    
      
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    reorganization
      or like proceeding, relating to any Borrower, whether or not a claim for
      post-filing or post-petition interest is allowed in such proceeding) the Loans
      and all other obligations and liabilities of each Borrower to the Administrative
      Agent or to any Lender (or, in the case of Swap Agreements, any affiliate of
      any
      Lender), whether direct or indirect, absolute or contingent, due or to become
      due, or now existing or hereafter incurred, which may arise under, out of,
      or in
      connection with, this Agreement, any other Loan Document, the Letters of Credit,
      any Swap Agreement entered into with any Lender or any affiliate of any Lender
      or any other document made, delivered or given in connection herewith or
      therewith, whether on account of principal, interest, reimbursement obligations,
      fees, indemnities, costs, expenses (including, without limitation, all fees,
      charges and disbursements of counsel to the Administrative Agent or to any
      Lender that are required to be paid by any Borrower pursuant hereto) or
      otherwise.

     

    “Optional
      Currency”:
      euros
      and Sterling.

     

    “Optional
      Currency Revolving Credit Loans”:
      Revolving Credit Loans in an Optional Currency. 

     

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

     

    “Overnight
      Eurocurrency Rate”:
      with
      respect to any amount denominated in an Optional Currency, the rate of interest
      per annum at which overnight deposits in the applicable Optional Currency,
      in an
      amount approximately equal to the amount with respect to which such rate is
      being determined, would be offered for such day by a branch or Affiliate of
      JPMorgan Chase Bank, N.A. in the applicable offshore interbank market for such
      currency to major banks in such interbank market.

     

    “Parent
      Borrower”:
      as
      defined in the preamble hereto.

     

    “Participant”:
      as
      defined in Section 10.6(c)(i).

     

    “Participating
      Member State”:
      means
      any member state of the European Communities that adopts or has adopted the
      euro
      as its lawful currency in accordance with legislation of the European Community
      relating to Economic and Monetary Union.

     

    “PBGC”:
      the
      Pension Benefit Guaranty Corporation established pursuant to Subtitle A of
      Title
      IV of ERISA (or any successor).

     

    “Permitted
      Asset Sale Amount”:
      initially $50,000,000, which amount shall increase by $10,000,000 on the first
      day of each fiscal year following the Closing Date.

     

    “Permitted
      Business Acquisition”:
      any
      acquisition of all or substantially all the assets of, or shares or other equity
      interests in, a Person or division or line of business of a Person (or any
      subsequent investment made in a previously acquired Permitted Business
      Acquisition) if immediately after giving effect thereto: (a) no Default or
      Event
      of Default shall have occurred and be continuing or would result therefrom,
      (b) all transactions related thereto shall be consummated in accordance
      with applicable laws in all material respects, (c) any acquired or newly formed
      corporation, partnership, association or other business entity shall be a
      Subsidiary and all actions required to be taken, if any, with respect to such
      acquired or newly formed Subsidiary under Section 6.9 shall have been taken
      and
      (d)(i) the Parent Borrower and the

     

    
      
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    Subsidiaries
      shall be in compliance, on a pro forma
      basis
      after giving effect to such acquisition (without regard to the making of any
      earn-out payments), with the covenants contained in Section 7.1 (except that
      for
      purposes of this definition only, the Parent Borrower and its Subsidiaries
      shall
      calculate pro forma
      compliance with the Consolidated Leverage Ratio set forth in Section 7.1(a)
      at
      (x) the Consolidated Leverage Ratio level set forth therein for the fiscal
      quarter in which such acquisition is made minus
      (y)
      0.25) recomputed as at the last day of the most recently ended fiscal quarter
      of
      the Parent Borrower and the Subsidiaries as if such acquisition and related
      financings or other transactions (without regard to the making of any earn-out
      payments) had occurred on the first day of each relevant period for testing
      such
      compliance, and, if the amount of such investment or series of related
      investments exceeds $20,000,000 (without regard to the making of any earn-out
      payments), then the Parent Borrower shall have delivered to the Administrative
      Agent an officers’ certificate to such effect, together with all relevant
      financial information for such Subsidiary or assets, and (ii) any acquired
      or newly formed Subsidiary shall not be liable for any Indebtedness (except
      for
      Indebtedness permitted by Section 7.2).

     

    “Permitted
      Subordinated Indebtedness”:
      any
      unsecured Indebtedness of the Parent Borrower (a) no part of the principal
      of
      which is stated to be payable or is required to be paid (whether by way of
      mandatory sinking fund, mandatory redemption, mandatory prepayment or other
      mandatory payment) prior to the final maturity date of the Term Loans or, if
      later, the Revolving Credit Termination Date, and the payment of the principal
      of which is subordinated to the prior payment in full of the Obligations, on
      terms and conditions no less favorable as a whole to the Lenders than those
      contained in the Convertible Senior Subordinated Debentures Indenture or
      otherwise on terms and conditions reasonably satisfactory to the Required
      Lenders and (b) (i) otherwise containing terms, covenants and conditions
      reasonably satisfactory in form and substance to the Required Lenders or (ii)
      otherwise containing terms, covenants and conditions no less favorable as a
      whole to the Lenders than those contained in the Convertible Senior Subordinated
      Debentures Indenture, other than the rate of interest on any such Indebtedness,
      which shall be determined based on market conditions at the time of incurrence
      thereof for comparable instruments of like kind and structure. For avoidance
      of
      any doubt, the Convertible Senior Subordinated Debentures are Permitted
      Subordinated Indebtedness.

     

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

     

    “Plan”:
      at a
      particular time, any employee benefit plan which is covered by ERISA and in
      respect of which the Parent Borrower or a Commonly Controlled Entity is (or,
      if
      such plan were terminated at such time, would under Section 4069 of ERISA be
      deemed to be) an “employer” as defined in Section 3(5) of ERISA.

     

    “Previous
      Credit Agreement”:
      as
      defined in the recitals hereto.

     

    “Pricing
      Grid”:
      the
      table set forth below:

     

    
      
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        19

      

    

     

    
      	
              Consolidated
                

              Leverage
                Ratio

            	
              Applicable

              Margin
                for

              Revolving

              Credit
                Loans

              that
                are

              Eurocurrency

              Loans

            	
              Applicable

              Margin
                for

              Tranche
                B

              Term
                Loans

              that
                are

              Eurocurrency

              Loans

            	
              Applicable

              Margin
                for

              Revolving

              Credit
                Loans

              that
                are ABR

              Loans

            	
              Applicable

              Margin
                for

              Tranche
                B

              Term
                Loans

              that
                are ABR

              Loans

            	
              Commitment

              Fee
                Rate

            
	
              Greater
                than or

              equal
                to 3.75

            	
              2.000%

            	
              2.000%

            	
              1.000%

            	
              1.000%

            	
              0.500%

            
	
              Less
                than 3.75

              but
                greater than

              or
                equal to 3.50

            	
              1.750%

            	
              1.750%

            	
              0.750%

            	
              0.750%

            	
              0.500%

            
	
              Less
                than 3.50

              but
                greater than

              or
                equal to 3.00

            	
              1.500%

            	
              1.750%

            	
              0.500%

            	
              0.750%

            	
              0.500%

            
	
              Less
                than 3.00

              but
                greater than

              or
                equal to 2.50

            	
              1.375%

            	
              1.500%

            	
              0.375%

            	
              0.500%

            	
              0.375%

            
	
              Less
                than 2.50

              but
                greater than

              or
                equal to 2.00

            	
              1.250%

            	
              1.500%

            	
              0.250%

            	
              0.500%

            	
              0.300%

            
	
              Less
                than 2.00

               

            	
              1.125%

            	
              1.500%

            	
              0.125%

            	
              0.500%

            	
              0.250%

            

    

    

     

    Changes
      in the Applicable Margin with respect to Revolving Credit Loans, Tranche B
      Term
      Loans or in the Commitment Fee Rate resulting from changes in the Consolidated
      Leverage Ratio shall become effective on the date (the “Adjustment
      Date”)
      on
      which financial statements are delivered to the Lenders pursuant to Section
      6.1
      (but in any event not later than the 45th day after the end of each of the
      first
      three quarterly periods of each fiscal year or the 90th day after the end of
      each fiscal year, as the case may be) and shall remain in effect until the
      next
      change to be effected pursuant to this paragraph. If any financial statements
      referred to above are not delivered within the time periods specified above,
      then, until such financial statements are delivered, the Consolidated Leverage
      Ratio as at the end of the fiscal period that would have been covered thereby
      shall for the purposes of this definition be deemed to be greater than 3.75
      to
      1.00. In addition, at all times while an Event of Default shall have occurred
      and be continuing, the Consolidated Leverage Ratio shall for the purposes of
      this definition be deemed to be greater than 3.75 to 1.00. Each determination
      of
      the Consolidated Leverage Ratio pursuant to this definition shall be made with
      respect to the period of four consecutive fiscal quarters of the Parent Borrower
      ending at the end of the period covered by the relevant financial
      statements.

     

    “Prime
      Rate”
shall
      mean the rate of interest per annum publicly announced from time to time by
      the
      Administrative Agent as its prime rate in effect at its principal office in
      New
      York City (the Prime Rate not being intended to be the lowest rate of interest
      charged by the Administrative Agent in connection with extensions of credit
      to
      debtors). Any change in the Alternate Base Rate due to a change in the Prime
      Rate or the Federal Funds Effective Rate shall be effective as of the opening
      of
      business on the effective day of such change in the Prime Rate or the Federal
      Funds Effective Rate, respectively.

     

    
      
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    “Pro
      Forma Balance Sheet”:
      as
      defined in Section 4.1(a).

     

    “Projections”:
      as
      defined in Section 6.2(c).

     

    “Properties”:
      as
      defined in Section 4.17(a).

     

    “Property”:
      any
      right or interest in or to property of any kind whatsoever, whether real,
      personal or mixed and whether tangible or intangible, including, without
      limitation, Capital Stock.

     

    “Quotation
      Day”:
      in
      respect of the determination of the Eurocurrency Rate for any Interest Period
      for Eurocurrency Loans in Dollars or any Optional Currency, the day on which
      quotations would ordinarily be given by prime banks in the London interbank
      market for deposits in such currency for delivery on the first day of such
      Interest Period for such Interest Period; provided,
      that if
      quotations would ordinarily be given on more than one date, the Quotation Day
      for such Interest Period shall be the last of such dates. On the date hereof,
      the Quotation Day in respect of any Interest Period (i) for euros is customarily
      the day which is two Business Days prior to the first day of such Interest
      Period and (ii) for Sterling is customarily the day which is the first day
      of
      such Interest Period.

     

    “Receivables
      Transfer Program”:
      a
      program under which the Parent Borrower or any of its Subsidiaries sell,
      transfer, encumber or otherwise dispose of accounts receivable or related
      ancillary rights or assets, or interests therein, without recourse (except
      for
      customary representations and customary non-credit dilution provisions) other
      than with respect to the Parent Borrower’s or such Subsidiary’s retained
      interest in such accounts receivable or related ancillary rights or assets,
      such
      program to have substantially the terms and conditions provided to the
      Administrative Agent prior to the Closing Date, as such terms and conditions
      may
      be amended, supplemented or otherwise modified from time to time.

     

    “Recovery
      Event”:
      any
      settlement of or payment in respect of any property or casualty insurance claim
      or any condemnation proceeding relating to any asset of the Parent Borrower
      or
      any of its Subsidiaries (excluding, for the avoidance of doubt, the proceeds
      of
      business interruption insurance for lost revenues).

     

    “Refunded
      Swingline Loans”:
      as
      defined in Section 2.7(b).

     

    “Register”:
      as
      defined in Section 10.6(b)(iv).

     

    “Regulation
      U”:
      Regulation U of the Board as in effect from time to time.

     

    “Reimbursement
      Obligation”:
      the
      obligation of any Borrower to reimburse the Issuing Lender pursuant to Section
      3.5 for amounts drawn under Letters of Credit.

     

    “Reinvestment
      Deferred Amount”:
      with
      respect to any Reinvestment Event, the aggregate Net Cash Proceeds received
      by
      the Parent Borrower or any of its Subsidiaries in connection therewith which
      are
      not applied to prepay the Term Loans or reduce the Revolving Credit Commitments
      pursuant to Section 2.12(b) as a result of the delivery of a Reinvestment
      Notice.

     

    “Reinvestment
      Event”:
      any
      Asset Sale or Recovery Event in respect of which the Parent Borrower has
      delivered a Reinvestment Notice.

     

    
      
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    “Reinvestment
      Notice”:
      a
      written notice executed by a Responsible Officer stating that no Default or
      Event of Default has occurred and is continuing and that the Parent Borrower
      (directly or indirectly through a Subsidiary), in good faith intends and expects
      to use all or a specified portion of the Net Cash Proceeds of an Asset Sale
      or
      Recovery Event to make an investment that is a reasonable substitute for the
      assets in respect of which such Asset Sale or Recovery Event occurred within
      twelve months (or six months in the case of an indemnity payment) from the
      date
      of receipt of such Net Cash Proceeds (provided
      that if
      the affected assets constituted Collateral such investment assets shall also
      constitute Collateral).

     

    “Reinvestment
      Prepayment Amount”:
      with
      respect to any Reinvestment Event, the Reinvestment Deferred Amount relating
      thereto less any amount expended prior to the relevant Reinvestment Prepayment
      Date to make an investment that is a reasonable substitute for the assets in
      respect of which a Recovery Event has occurred.

     

    “Reinvestment
      Prepayment Date”:
      with
      respect to any Reinvestment Event, the earlier of (a) the date occurring twelve
      months after such Reinvestment Event and (b) the date on which the Parent
      Borrower shall have determined not to, or shall have otherwise ceased to,
      acquire assets useful in the Parent Borrower’s business with all or any portion
      of the relevant Reinvestment Deferred Amount.

     

    “Reorganization”:
      with
      respect to any Multiemployer Plan, the condition that such plan is in
      reorganization within the meaning of Section 4241 of ERISA.

     

    “Reportable
      Event”:
      any of
      the events set forth in Section 4043(c) of ERISA, other than those events as
      to
      which the thirty day notice period is waived under subsections .27, .28, .29,
      .30, .31, .32, .34 or .35 of PBGC Reg. § 4043.

     

    “Required
      Lenders”:
      the
      holders of more than 50% of the sum of (i) the aggregate unpaid principal amount
      of the Term Loans and (ii) the Total Revolving Credit Commitments or, if the
      Revolving Credit Commitments have been terminated, the Total Revolving
      Extensions of Credit. 

     

    “Requirement
      of Law”:
      as to
      any Person, the Certificate of Incorporation and By-Laws or other organizational
      or governing documents of such Person, and any law, treaty, rule or regulation
      or determination of an arbitrator or a court or other Governmental Authority,
      in
      each case applicable to or binding upon such Person or any of its Property
      or to
      which such Person or any of its Property is subject.

     

    “Responsible
      Officer”:
      the
      chief executive officer, president, chief financial officer, treasurer,
      controller or general counsel (or other officer satisfactory to the Lenders)
      of
      the Parent Borrower, but in any event, with respect to financial matters, the
      chief financial officer, treasurer, controller (or other officer satisfactory
      to
      the Lenders) of the Parent Borrower.

     

    “Revolving
      Credit Commitment”:
      as to
      any Lender, the obligation of such Lender, if any, to make Revolving Credit
      Loans and participate in Swingline Loans and Letters of Credit, in an aggregate
      principal and/or face amount not to exceed the amount set forth under the
      heading “Revolving Credit Commitment” opposite such Lender’s name on Schedule
      1.1A or in the Assignment and Assumption pursuant to which such Revolving Credit
      Lender became a party hereto, as the same may be changed from time to time
      pursuant to the terms hereof. The original amount of the Total Revolving Credit
      Commitments is $100,000,000.

     

    
      
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    “Revolving
      Credit Commitment Period”:
      the
      period from and including the Closing Date to the Revolving Credit Termination
      Date.

     

    “Revolving
      Credit Lender”:
      each
      Lender which has a Revolving Credit Commitment or which has made Revolving
      Credit Loans.

     

    “Revolving
      Credit Loans”:
      as
      defined in Section 2.4(a).

     

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

     

    “Revolving
      Credit Termination Date”:
      the
      fifth anniversary of the Closing Date, as such date may be extended in
      accordance with Section 10.1.

     

    “Revolving
      Extensions of Credit”:
      as to
      any Revolving Credit Lender at any time, an amount equal to the sum of (a)
      the
      aggregate principal amount of all Revolving Credit Loans made by such Lender
      then outstanding, (b) such Lender’s Revolving Credit Percentage of the L/C
      Obligations then outstanding and (c) such Lender’s Revolving Credit Percentage
      of the aggregate principal amount of Swingline Loans then
      outstanding.

     

    “SEC”:
      the
      Securities and Exchange Commission (or successors thereto or an analogous
      Governmental Authority).

     

    “Second
      Amendment to Guarantee and Collateral Agreement”:
      the
      Second Amendment to the Guarantee and Collateral Agreement dated as of April
      13,
      2006, substantially in the form of Exhibit A-3.

     

    “Security
      Documents”:
      the
      collective reference to the Guarantee and Collateral Agreement and all other
      security documents hereafter delivered to the Administrative Agent granting
      a
      Lien on any Property of any Person to secure the obligations and liabilities
      of
      any Loan Party under any Loan Document.

     

    “Single
      Employer Plan”:
      any
      Plan which is covered by Title IV of ERISA, but which is not a Multiemployer
      Plan.

     

    “Solvent”:
      when
      used with respect to any Person, means that, as of any date of determination,
      (a) the amount of the “present fair saleable value” of the assets of such Person
      will, as of such date, exceed the amount of all “liabilities of such Person,
      contingent or otherwise”, as of such date, as such quoted terms are determined
      in accordance with applicable federal and state laws governing determinations
      of
      the insolvency of debtors, (b) the present fair saleable value of the assets
      of
      such Person will, as of such date, be greater than the amount that will be
      required to pay the liability of such Person on its debts as such debts become
      absolute and matured, (c) such Person will not have, as of such date, an
      unreasonably small amount of capital with which to conduct its business, and
      (d)
      such Person will be able to pay its debts as they mature. For purposes of this
      definition, (i) “debt” means liability on a “claim”, and (ii) “claim” means any
      (x) right to payment, whether or not such a right is reduced to judgment,
      liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed,
      undisputed, legal, equitable,

     

    
      
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    secured
      or unsecured or (y) right to an equitable remedy for breach of performance
      if
      such breach gives rise to a right to payment, whether or not such right to
      an
      equitable remedy is reduced to judgment, fixed, contingent, matured or
      unmatured, disputed, undisputed, secured or unsecured.

     

    “Sterling”:
      the
      lawful currency of the United Kingdom.

     

    “Subsidiary”:
      as to
      any Person, a corporation, partnership, limited liability company or other
      entity of which shares of stock or other ownership interests having ordinary
      voting power (other than stock or such other ownership interests having such
      power only by reason of the happening of a contingency) to elect a majority
      of
      the board of directors or other managers of such corporation, partnership or
      other entity are at the time owned, or the management of which is otherwise
      controlled, directly or indirectly through one or more intermediaries, or both,
      by such Person. Unless otherwise qualified, all references to a “Subsidiary” or
      to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries
      of the Parent Borrower.

     

    “Subsidiary
      Guarantor”:
      (a)
      each Material Domestic Subsidiary of the Parent Borrower and (b) each Material
      Foreign Subsidiary of the Borrower other than Excluded Foreign
      Subsidiaries.

     

    “Swap
      Agreement”:
      any
      agreement with respect to any swap, forward, future or derivative transaction
      or
      option or similar agreement involving, or settled by reference to, one or more
      rates, currencies, commodities, equity or debt instruments or securities, or
      economic, financial or pricing indices or measures of economic, financial or
      pricing risk or value or any similar transaction or any combination of these
      transactions; provided
      that no
      phantom stock or similar plan providing for payments only on account of services
      provided by current or former directors, officers, employees or consultants
      of
      the Parent Borrower or any of its Subsidiaries shall be a “Swap
      Agreement”.

     

    “Swingline
      Commitment”:
      the
      obligation of the Swingline Lender to make Swingline Loans pursuant to Section
      2.6 in an aggregate principal amount at any one time outstanding not to exceed
      $10,000,000.

     

    “Swingline
      Lender”:
      JPMorgan Chase Bank, N.A., in its capacity as the lender of Swingline
      Loans.

     

    “Swingline
      Loans”:
      as
      defined in Section 2.6(a).

     

    “Swingline
      Participation Amount”:
      as
      defined in Section 2.7(c).

     

    “Target
      Operating Day”:
      any
      day that is not (a) a Saturday or Sunday, (b) Christmas Day or New Year’s Day or
      (c) any other day on which the Trans-European Real-time Gross Settlement Express
      Transfer System (or any successor settlement system) is not operating (as
      reasonably determined by the Administrative Agent).

     

    “Term
      Loan Lenders”:
      collectively, the Tranche B Term Loan Lenders and the Incremental Term Loan
      Lenders.

     

    “Term
      Loans”:
      collectively, the Tranche B Term Loans and the Incremental Term
      Loans.

     

    
      
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    “Total
      Revolving Credit Commitments”:
      at any
      time, the aggregate amount of the Revolving Credit Commitments at such
      time.

     

    “Total
      Revolving Extensions of Credit”:
      at any
      time, the aggregate amount of the Revolving Extensions of Credit of the
      Revolving Credit Lenders at such time.

     

    “Tranche
      B Term Loan”:
      as
      defined in Section 2.1.

     

    “Tranche
      B Term Loan Commitment”:
      as to
      any Lender, the obligation of such Lender, if any, to make a Tranche B Term
      Loan
      to the Parent Borrower hereunder in a principal amount not to exceed the amount
      set forth under the heading “Tranche B Term Loan Commitment” opposite such
      Lender’s name on Schedule 1.1A or in the Assignment and Assumption pursuant to
      which such Tranche B Term Loan Lender became a party hereto. 

     

    “Tranche
      B Term Loan Lender”:
      each
      Lender which has a Tranche B Term Loan Commitment or which has made a Tranche
      B
      Term Loan.

     

    “Tranche
      B Term Loan Percentage”:
      as to
      any Tranche B Term Loan Lender at any time, the percentage which such Lender’s
      Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B
      Term
      Loan Commitments (or, at any time after the Closing Date, the percentage which
      the aggregate principal amount of such Lender’s Tranche B Term Loans then
      outstanding constitutes of the aggregate principal amount of the Tranche B
      Term
      Loans then outstanding).

     

    “Transferee”:
      as
      defined in Section 10.15.

     

    “Type”:
      as to
      any Loan, its nature as an ABR Loan or a Eurocurrency Loan.

     

    “Uniform
      Customs”:
      the
      Uniform Customs and Practice for Documentary Credits (1993 Revision),
      International Chamber of Commerce Publication No. 500, as the same may be
      amended from time to time.

     

    “United
      States”:
      the
      United States of America.

     

    “Wholly-Owned
      Foreign Subsidiary”:
      any
      Foreign Subsidiary that is a Wholly-Owned Subsidiary.

     

    “Wholly-Owned
      Subsidiary”:
      as to
      any Person, any other Person all of the Capital Stock of which (other than
      (i) a
      nominal number of shares held by foreign nationals to the extent required by
      local law or (ii) directors’ qualifying shares required by law) is owned by such
      Person directly and/or through other Wholly-Owned Subsidiaries.

     

    “Wholly-Owned
      Subsidiary Guarantor”:
      any
      Subsidiary Guarantor that is a Wholly-Owned Subsidiary of the Parent
      Borrower.

     

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

     

    (b)  
      As used herein and in the other Loan Documents, and any certificate or other
      document made or delivered pursuant hereto or thereto, accounting terms relating
      to the Parent Borrower

     

    
      
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    and
      its
      Subsidiaries not defined in Section 1.1 and accounting terms partly defined
      in
      Section 1.1, to the extent not defined, shall have the respective meanings
      given
      to them under GAAP.

     

    (c)  
      The words “hereof”, “herein” and “hereunder” and words of similar import when
      used in this Agreement shall refer to this Agreement as a whole and not to
      any
      particular provision of this Agreement, and Article, Section, Schedule and
      Exhibit references are to this Agreement unless otherwise
      specified.

     

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

     

    (e)  
      References to agreements or other Contractual Obligations shall, unless
      otherwise specified, be deemed to refer to such agreements or Contractual
      Obligations as amended, supplemented, restated or otherwise modified from time
      to time.

     

    SECTION
      1.3   Exchange
      Rates.
      (a)  Not later than 1:00 P.M., Local Time, on each Calculation Date,
      the Administrative Agent shall (i) determine the Exchange Rate as of such
      Calculation Date for each Optional Currency in which a Loan is then outstanding
      and (ii) give notice thereof to the Parent Borrower. The Exchange Rates so
      determined shall become effective on the first Business Day immediately
      following the relevant Calculation Date (a “Reset
      Date”)
      and
      shall remain effective until the next succeeding Reset Date. 

     

    (b)  
      Not
      later
      than 2:00 P.M., Local Time, on each Reset Date, the Administrative Agent shall
      (i) determine the aggregate amount of Revolving Extensions of Credit in Optional
      Currencies on such date (after giving effect to any Revolving Credit Loans
      or
      Letters of Credit to be made or issued in connection with such determination),
      and (ii) notify the Parent Borrower of such determination.

     

    ARTICLE
      II.AMOUNT
      AND TERMS OF COMMITMENTS

     

    SECTION
      2.1   Term
      Loan Commitments.(a)  
      Subject to the terms and conditions hereof, (i) each Tranche B Term Loan Lender
      severally agrees to make a term loan (a “Tranche
      B Term Loan”)
      to the
      Parent Borrower on the Closing Date in Dollars in an amount not to exceed the
      amount of the Tranche B Term Loan Commitment of such Lender and (ii) each
      Incremental Term Loan Lender severally agrees to make one or more term loans
      (each an “Incremental
      Term Loan”)
      to the
      Parent Borrower to the extent provided in Section 2.1(b). The Term Loans may
      from time to time be Eurocurrency Loans or ABR Loans, as determined by the
      Parent Borrower and notified to the Administrative Agent in accordance with
      Sections 2.2 and 2.13. All Tranche B Term Loans outstanding under the
      Previous Credit Agreement on the Closing Date shall remain outstanding to the
      Parent Borrower hereunder on the terms set forth herein.

     

    (b)  
      The Parent Borrower and any one or more Lenders (including New Lenders) may
      from
      time to time agree that such Lenders shall make, obtain or increase the amount
      of their Tranche B Term Loans or Incremental Term Loans, as applicable, by
      executing and delivering to the Administrative Agent an Increased Facility
      Activation Notice specifying (i) the amount of such increase and the
      Facility or Facilities involved, (ii) the applicable Increased Facility
      Closing Date and (iii) in the case of Incremental Term Loans, (x) the
      applicable Incremental Term Maturity Date, (y) the amortization schedule
      for such Incremental Term Loans, which shall comply with Section 2.3, and
      (z) the Applicable Margin for such Incremental Term Loans; provided
      that,
      (A) after giving pro forma
      effect
      to the making of any such Term Loans, the Consolidated Leverage Ratio shall
      be
      less than or equal to (x) the Consolidated Leverage Ratio level set forth in
      Section 7.1(a) for the fiscal quarter in which such Term Loans are made
minus
      (y)
      0.25, (B) no Default or Event of Default has occurred and is continuing or
      would
      result after giving effect to the making of such Term Loans or the application
      of the proceeds

     

    
      
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     therefrom,
      (C) in the case of Incremental Term Loans, the Applicable Margin shall not
      be
      greater than 0.25% above the Applicable Margin then in effect for Tranche B
      Term
      Loans and, other than with respect to other pricing terms relating thereto,
      such
      Loans shall otherwise be on the same terms and conditions as those applicable
      to
      Tranche B Term Loans, (D) the aggregate amount of borrowings of incremental
      Tranche B Term Loans or Incremental Term Loans pursuant to this Section 2.1(b)
      shall not exceed an amount equal to $75,000,000, (E) each borrowing of
      incremental Tranche B Term Loans or Incremental Term Loans pursuant to this
      Section 2.1(b) shall be in a minimum amount of at least $25,000,000 and (F)
      no
      more than three Increased Facility Closing Dates may be selected by the Parent
      Borrower after the Closing Date. No Lender shall have any obligation to
      participate in any increase described in this paragraph unless it agrees to
      do
      so in its sole discretion. 

     

    (c)  
      Any additional bank, financial institution or other entity which, with the
      consent of the Parent Borrower and the Administrative Agent (which consent
      shall
      not be unreasonably withheld), elects to become a “Lender” under this Agreement
      in connection with any transaction described in Section 2.1(b) shall execute
      a
      New Lender Supplement (each, a “New
      Lender Supplement”),
      substantially in the form of Exhibit H, whereupon such bank, financial
      institution or other entity (a “New
      Lender”)
      shall
      become a Lender for all purposes and to the same extent as if originally a
      party
      hereto and shall be bound by and entitled to the benefits of this
      Agreement.

     

    SECTION
      2.2   Procedure
      for Term Loan Borrowing.
      The
      Parent Borrower shall give the Administrative Agent irrevocable notice (which
      notice must be received by the Administrative Agent (a) prior to 12:00 Noon,
      New
      York City time, three Business Days prior to the Closing Date, in the case
      of
      Eurocurrency Loans, or (b) prior to 12:00 Noon, New York City time, one
      Business Day prior to the Closing Date, in the case of ABR Loans) requesting
      that the Tranche B Term Loan Lenders make the Tranche B Term Loans on the
      Closing Date and specifying the amount to be borrowed. Upon receipt of such
      notice the Administrative Agent shall promptly notify each Tranche B Term Loan
      Lender thereof. Not later than 12:00 Noon, New York City time, on the Closing
      Date each Tranche B Term Loan Lender shall make available to the Administrative
      Agent at the Funding Office an amount in immediately available funds equal
      to
      the Term Loan or Term Loans to be made by such Lender. The Administrative Agent
      shall make available to the Parent Borrower the aggregate of the amounts made
      available to the Administrative Agent by the Term Loan Lenders in immediately
      available funds.

     

    SECTION
      2.3   Repayment
      of Term Loans.
      (a)  Subject to Section 2.8(a), the principal amount of each Tranche B
      Term Loan of each Tranche B Term Loan Lender shall mature in consecutive
      quarterly installments, commencing on June 30, 2006, all of which shall be
      in an
      amount equal to each Lender’s Tranche B Term Loan percentage multiplied by the
      amount set forth below opposite such installment date:

     

    
       

      
        
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              Date

            	
              Installment
                Amount

            
	 	 
	
              June
                30, 2006

            	
              $337,500

            
	
              September
                30, 2006

            	
              $337,500

            
	
              December
                31, 2006

            	
              $337,500

            
	
              March
                31, 2007

            	
              $337,500

            
	
              June
                30, 2007

            	
              $337,500

            
	
              September
                30, 2007

            	
              $337,500

            
	
              December
                31, 2007

            	
              $337,500

            
	
              March
                31, 2008

            	
              $337,500

            
	
              June
                30, 2008

            	
              $337,500

            
	
              September
                30, 2008

            	
              $337,500

            
	
              December
                31, 2008

            	
              $337,500

            

    

    
      	
              March
                31, 2009

            	
              $337,500

            
	
              June
                30, 2009

            	
              $337,500

            
	
              September
                30, 2009

            	
              $337,500

            
	
              December
                31, 2009

            	
              $337,500

            
	
              March
                31, 2010

            	
              $337,500

            
	
              June
                30, 2010

            	
              $337,500

            
	
              September
                30, 2010

            	
              $337,500

            
	
              December
                31, 2010

            	
              $337,500

            
	
              March
                31, 2011

            	
              $337,500

            
	
              June
                30, 2011

            	
              $337,500

            
	
              September
                30, 2011

            	
              $337,500

            
	
              December
                31, 2011

            	
              $337,500

            
	
              March
                31, 2012

            	
              $337,500

            
	
              June
                30, 2012

            	
              $31,725,000

            
	
              September
                30, 2012

            	
              $31,725,000

            
	
              December
                31, 2012

            	
              $31,725,000

            
	
              March
                31, 2013

            	
              $31,725,000

            
	
              April
                12, 2013

            	
              All
                amounts outstanding

              in
                respect of Tranche B

              Term
                Loans

            

    

     

    (b)  
      The
      Incremental Term Loans of each Incremental Term Loan Lender shall mature in
      consecutive installments (which shall be no more frequent than quarterly) as
      specified in the Increased Facility Activation Notice pursuant to which such
      Incremental Term Loans were made, provided
      that,
      (i) such Incremental Term Loans shall not amortize more rapidly, on a percentage
      basis, than the Tranche B Term Loans and (ii) such Incremental Term Loans shall
      not finally mature prior to the date upon which the Tranche B Term Loans are
      scheduled to mature.

     

    SECTION
      2.4   Revolving
      Credit Commitments.
      (a)  Subject to the terms and conditions hereof, each Revolving Credit
      Lender severally agrees to make revolving credit loans (“Revolving
      Credit Loans”)
      to the
      Parent Borrower or any Foreign Subsidiary Borrower, in Dollars or in any
      Optional Currency, from time to time during the Revolving Credit Commitment
      Period in an aggregate principal amount at any one time outstanding which,
      when
      added to such Lender’s Revolving Credit Percentage of the sum of (i) the L/C
      Obligations then outstanding and (ii) the aggregate principal amount of the
      Swingline Loans then outstanding does not exceed the amount of such Lender’s
      Revolving Credit Commitment; provided
      that (x)
      the Dollar Equivalent of the aggregate principal amounts of all Optional
      Currency Revolving Credit Loans outstanding at any time shall not exceed
      $25,000,000 and (y) the aggregate principal amount of all Revolving Credit
      Loans
      to Foreign Subsidiary Borrowers outstanding at any time shall not exceed
      $25,000,000. During the Revolving Credit Commitment Period any Borrower

     

    
      
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    may
      use
      the Revolving Credit Commitments by borrowing, prepaying the Revolving Credit
      Loans in whole or in part, and reborrowing, all in accordance with the terms
      and
      conditions hereof. The Revolving Credit Loans in Dollars may from time to time
      be Eurocurrency Loans or ABR Loans, as determined by the Parent Borrower and
      notified to the Administrative Agent in accordance with Sections 2.5 and 2.13,
      provided that no Revolving Credit Loan shall be made as a Eurocurrency Loan
      after the day that is one month prior to the Revolving Credit Termination Date.
      All Revolving Credit Loans outstanding under the Previous Credit Agreement
      on
      the Closing shall remain outstanding to the Parent Borrower hereunder on the
      terms set forth herein. The Optional Currency Revolving Credit Loans must be
      Eurocurrency Loans.

     

    (b)  
      The Borrowers shall repay all outstanding Revolving Credit Loans on the
      Revolving Credit Termination Date.

     

    (c)  
      The Parent Borrower and any one or more Lenders (including New Lenders) may
      from
      time to time agree that such Lenders shall increase the amount of their
      Revolving Credit Commitments (or in the case of New Lenders establish Revolving
      Credit Commitments) by executing and delivering to the Administrative Agent
      an
      Increased Facility Activation Notice specifying (i) the respective amount of
      such increase (or such new Revolving Credit Commitments) and the Facility
      involved and (ii) the applicable Increased Facility Closing Date; provided
      that,
      (A) no Default or Event of Default has occurred and is continuing or would
      result after giving effect to the increase of the Revolving Credit Commitments
      or the intended application of proceeds therefrom, (B) the Applicable Margin
      determined as of the applicable Increased Facility Closing Date shall not be
      greater than the Applicable Margin then in effect for Revolving Credit Loans
      and
      such Revolving Credit Commitments and Revolving Credit Loans shall otherwise
      be
      on the same terms and conditions as those applicable to Revolving Credit
      Commitments and Revolving Credit Loans, (C) the aggregate Revolving Credit
      Commitments after giving effect to any increase pursuant to this Section 2.4(c)
      shall not exceed an amount equal to $125,000,000, and (D) each increase in
      the
      Revolving Credit Commitments pursuant to this Section 2.4(c) shall be in a
      minimum amount of at least $5,000,000. No Lender shall have any obligation
      to
      participate in any increase described in this paragraph unless it agrees to
      do
      so in its sole discretion.

     

    (d)  
      Any additional bank, financial institution or other entity which, with the
      consent of the Parent Borrower and the Administrative Agent (which consent
      shall
      not be unreasonably withheld), elects to become a “Lender” under this Agreement
      in connection with any transaction described in Section 2.4(c) shall execute
      a
      New Lender Supplement, substantially in the form of Exhibit H, whereupon such
      New Lender shall become a Lender for all purposes and to the same extent as
      if
      originally a party hereto and shall be bound by and entitled to the benefits
      of
      this Agreement.

     

    SECTION
      2.5   Procedure
      for Revolving Credit Borrowing.
      The
      respective Borrower may borrow under the Revolving Credit Commitments during
      the
      Revolving Credit Commitment Period on any Business Day, provided
      that the
      Parent Borrower (on its own behalf or on behalf of any Foreign Subsidiary
      Borrower) shall give the Administrative Agent irrevocable notice (which notice
      must be received by the Administrative Agent (a) prior to 12:00 Noon, New York
      City time, three Business Days prior to the requested Borrowing Date in the
      case
      of Eurocurrency Loans; provided
      that,
      this period shall be extended to four Business Days in the case of Optional
      Currency Revolving Credit Loans, or (b) prior to 10:00 A.M., New York City
      time,
      on the requested Borrowing Date, in the case of ABR Loans), specifying (i)
      the
      amount and Type of Revolving Credit Loans to be borrowed, (ii) the requested
      Borrowing Date, (iii) in the case of any Eurocurrency Loan, the currency thereof
      and the length of the initial Interest Period therefor and (iv) in the case
      of
      an Optional Currency Revolving Credit Loan to a Foreign Subsidiary Borrower,
      the
      name and location of such Foreign Subsidiary Borrower. Each borrowing under
      the
      Revolving Credit Commitments shall be in an amount equal to (x) in the case
      of

     

    
      
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    ABR
      Loans, $1,000,000 or a whole multiple thereof (or, if the then aggregate
      Available Revolving Credit Commitments are less than $1,000,000, such lesser
      amount) and (y) in the case of Eurocurrency Loans, the equivalent of $5,000,000
      or a whole multiple of the equivalent of $1,000,000 in excess thereof (or
      comparable amounts of any relevant Optional Currency, as determined from time
      to
      time by the Administrative Agent); provided,
      that
      the Swingline Lender may request, on behalf of the Parent Borrower, borrowings
      under the Revolving Credit Commitments that are ABR Loans in other amounts
      pursuant to Section 2.4. Upon receipt of any such notice from the Parent
      Borrower, the Administrative Agent shall promptly notify each Revolving Credit
      Lender thereof. Each Revolving Credit Lender will make the amount of its
pro rata
      share of
      each borrowing available to the Administrative Agent for the account of the
      respective Borrower at the Funding Office prior to 12:00 Noon, New York City
      time (or in the case of Eurocurrency Loans, prior to 12:00 Noon, Local Time),
      on
      the Borrowing Date requested by the Parent Borrower in funds immediately
      available to the Administrative Agent. Such borrowing will then be made
      available to the respective Borrower by the Administrative Agent crediting
      the
      account of the respective Borrower on the books of such office with the
      aggregate of the amounts made available to the Administrative Agent by the
      Revolving Credit Lenders and in like funds as received by the Administrative
      Agent.

     

    SECTION
      2.6   Swingline
      Commitment.
      (a)  Subject to the terms and conditions hereof, the Swingline Lender
      agrees to make a portion of the credit otherwise available to the Parent
      Borrower under the Revolving Credit Commitments from time to time during the
      Revolving Credit Commitment Period by making swing line loans (“Swingline
      Loans”)
      to the
      Parent Borrower in Dollars; provided
      that (i)
      the aggregate principal amount of Swingline Loans outstanding at any time shall
      not exceed the Swingline Commitment then in effect (notwithstanding that the
      Swingline Loans outstanding at any time, when aggregated with the Swingline
      Lender’s other outstanding Revolving Credit Loans, may exceed the Swingline
      Commitment then in effect) and (ii) the Parent Borrower shall not request,
      and
      the Swingline Lender shall not make, any Swingline Loan if, after giving effect
      to the making of such Swingline Loan, the aggregate amount of the Available
      Revolving Credit Commitments would be less than zero. During the Revolving
      Credit Commitment Period, the Parent Borrower may use the Swingline Commitment
      by borrowing, repaying and reborrowing, all in accordance with the terms and
      conditions hereof. Swingline Loans shall be (i) ABR Loans or (ii) subject to
      an
      interest rate set by the Swingline Lender on an as offered basis, such interest
      rate in no event to be higher than the Alternate Base Rate plus
      the
      Applicable Margin for ABR Loans in effect on the date of the applicable
      Swingline Loans are made.

     

    (b) The
      Parent Borrower shall repay to the Swingline Lender the then unpaid principal
      amount of each Swingline Loan on the earlier of the Revolving Credit Termination
      Date and the first date after such Swingline Loan is made that is the 15th
      or
      last day of a calendar month and is at least two Business Days after such
      Swingline Loan is made; provided
      that on
      each date that a Revolving Credit Loan is borrowed, the Parent Borrower shall
      repay all Swingline Loans then outstanding.

     

    SECTION
      2.7   Procedure
      for Swingline Borrowing; Refunding of Swingline Loans.
      (a)  Whenever the Parent Borrower desires that the Swingline Lender
      make Swingline Loans it shall give the Swingline Lender irrevocable telephonic
      notice confirmed promptly in writing (which telephonic notice must be received
      by the Swingline Lender not later than 1:00 P.M., New York City time, on the
      proposed Borrowing Date), specifying (i) the amount to be borrowed and (ii)
      the
      requested Borrowing Date (which shall be a Business Day during the Revolving
      Credit Commitment Period). Each borrowing under the Swingline Commitment shall
      be in an amount equal to $500,000 or a whole multiple of $100,000 in excess
      thereof. Not later than 3:00 P.M., New York City time, on the Borrowing Date
      specified in a notice in respect of Swingline Loans, the Swingline Lender shall
      make available to the Administrative Agent at the Funding Office an amount
      in
      immediately available funds equal to the amount of the Swingline Loan to be
      made
      by the Swingline Lender. The Administrative Agent shall make the proceeds of
      such Swingline Loan available to the Parent Borrower on such Borrowing Date
      by

     

    
      
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     depositing
      such proceeds in the account of the Parent Borrower with the Administrative
      Agent on such Borrowing Date in immediately available funds.

     

    (b)  
      The Swingline Lender, at any time and from time to time in its sole and absolute
      discretion may, on behalf of the Parent Borrower (which hereby irrevocably
      directs the Swingline Lender to act on its behalf), on one Business Day’s notice
      given by the Swingline Lender no later than 12:00 Noon, New York City time,
      request each Revolving Credit Lender to make, and each Revolving Credit Lender
      hereby agrees to make, a Revolving Credit Loan, in an amount equal to such
      Revolving Credit Lender’s Revolving Credit Percentage of the aggregate amount of
      the Swingline Loans (the “Refunded
      Swingline Loans”)
      outstanding on the date of such notice, to repay the Swingline Lender. Each
      Revolving Credit Lender shall make the amount of such Revolving Credit Loan
      available to the Administrative Agent at the Funding Office in immediately
      available funds, not later than 10:00 A.M., New York City time, one Business
      Day
      after the date of such notice. The proceeds of such Revolving Credit Loans
      shall
      be immediately made available by the Administrative Agent to the Swingline
      Lender for application by the Swingline Lender to the repayment of the Refunded
      Swingline Loans. The Parent Borrower irrevocably authorizes the Swingline Lender
      to charge the Parent Borrower’s accounts with the Administrative Agent (up to
      the amount available in each such account) in order to immediately pay the
      amount of such Refunded Swingline Loans to the extent amounts received from
      the
      Revolving Credit Lenders are not sufficient to repay in full such Refunded
      Swingline Loans.

     

    (c)  
      If prior to the time a Revolving Credit Loan would have otherwise been made
      pursuant to Section 2.7(b), one of the events described in Section 8(f) shall
      have occurred and be continuing with respect to any Borrower or if for any
      other
      reason, as determined by the Swingline Lender in its sole discretion, Revolving
      Credit Loans may not be made as contemplated by Section 2.7(b), each Revolving
      Credit Lender shall, on the date such Revolving Credit Loan was to have been
      made pursuant to the notice referred to in Section 2.7(b), purchase for cash
      an
      undivided participating interest in the then outstanding Swingline Loans by
      paying to the Swingline Lender an amount (the “Swingline
      Participation Amount”)
      equal
      to (i) such Revolving Credit Lender’s Revolving Credit Percentage times
      (ii) the
      sum of the aggregate principal amount of Swingline Loans then outstanding that
      were to have been repaid with such Revolving Credit Loans.

     

    (d)  
      Whenever, at any time after the Swingline Lender has received from any Revolving
      Credit Lender such Lender’s Swingline Participation Amount, the Swingline Lender
      receives any payment on account of the Swingline Loans, the Swingline Lender
      will distribute to such Lender its Swingline Participation Amount (appropriately
      adjusted, in the case of interest payments, to reflect the period of time during
      which such Lender’s participating interest was outstanding and funded and, in
      the case of principal and interest payments, to reflect such Lender’s
pro rata
      portion
      of such payment if such payment is not sufficient to pay the principal of and
      interest on all Swingline Loans then due); provided,
      however,
      that in
      the event that such payment received by the Swingline Lender is required to
      be
      returned, such Revolving Credit Lender will return to the Swingline Lender
      any
      portion thereof previously distributed to it by the Swingline
      Lender.

     

    (e)  
      Each Revolving Credit Lender’s obligation to make the Loans referred to in
      Section 2.7(b) and to purchase participating interests pursuant to Section
      2.7(c) shall be absolute and unconditional and shall not be affected by any
      circumstance, including (i) any setoff, counterclaim, recoupment, defense or
      other right that such Revolving Credit Lender or any Borrower may have against
      the Swingline Lender, any Borrower or any other Person for any reason
      whatsoever; (ii) the occurrence or continuance of a Default or an Event of
      Default or the failure to satisfy any of the other conditions specified in
      Article V; (iii) any adverse change in the condition (financial or otherwise)
      of
      any Borrower; (iv) any breach of this Agreement or any other Loan Document
      by
      any Borrower, any other Loan Party or

     

    
      
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    any
      other
      Revolving Credit Lender; or (v) any other circumstance, happening or event
      whatsoever, whether or not similar to any of the foregoing.

     

    SECTION
      2.8   Repayment
      of Loans.
      (a)  Each Borrower hereby unconditionally promises to pay to the
      Administrative Agent for the account of the appropriate Revolving Credit Lender
      or Term Loan Lender, as the case may be, (i) the then unpaid principal amount
      of
      each Revolving Credit Loan of such Revolving Credit Lender made to it on the
      Revolving Credit Termination Date (or such earlier date on which the Loans
      become due and payable pursuant to Article VIII) and (ii) the principal amount
      of each Term Loan of such Term Loan Lender made to it in installments according
      to the amortization schedule set forth in Section 2.3 (or on such earlier date
      on which the Loans become due and payable pursuant to Article VIII). Each
      Borrower hereby further agrees to pay interest on the unpaid principal amount
      of
      the Loans from time to time outstanding from the date hereof until payment
      in
      full thereof at the rates per annum and on the dates set forth in Section
      2.15.

     

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

     

    (c)  
      The Administrative Agent, on behalf of the Borrowers, shall maintain the
      Register pursuant to Section 10.6(b)(iv), and a subaccount therein for each
      Lender, in which shall be recorded (i) the amount of each Loan made hereunder
      and any Note evidencing such Loan, the Type thereof and each Interest Period
      applicable thereto, (ii) the amount of any principal or interest due and payable
      or to become due and payable from each Borrower to each Lender hereunder and
      (iii) both the amount of any sum received by the Administrative Agent hereunder
      from the respective Borrower and each Lender’s share thereof.

     

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

     

    SECTION
      2.9   Commitment
      Fees, etc.
      (a)  The Parent Borrower agrees to pay to the Administrative Agent for
      the account of each Revolving Credit Lender a commitment fee for the period
      from
      and including the Closing Date to the last day of the Revolving Credit
      Commitment Period, computed at the Commitment Fee Rate on the average daily
      amount of the Available Revolving Credit Commitment of such Lender during the
      period for which payment is made, payable quarterly in arrears on the last
      day
      of each March, June, September and December and on the Revolving Credit
      Termination Date, commencing on the first of such dates to occur after the
      date
      hereof.

     

    (b)  
      The Parent Borrower agrees to pay to the Administrative Agent the fees in the
      amounts and on the dates previously agreed to in writing by the Parent Borrower
      and the Administrative Agent.

     

    SECTION
      2.10   Termination
      or Reduction of Revolving Credit Commitments.
      The
      Parent Borrower shall have the right, upon not less than three Business Days’
notice to the Administrative Agent, to terminate the Revolving Credit
      Commitments or, from time to time, to reduce the amount of the Revolving Credit
      Commitments; provided
      that no
      such termination or reduction of Revolving Credit

     

    
      
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    Commitments
      shall be permitted if, after giving effect thereto and to any prepayments of
      the
      Revolving Credit Loans made on the effective date thereof, the Total Revolving
      Extensions of Credit would exceed the Total Revolving Credit Commitments. Any
      such reduction shall be in an amount equal to $1,000,000, or a whole multiple
      of
      $1,000,000 in excess thereof, and shall reduce permanently the Revolving Credit
      Commitments then in effect.

     

    SECTION
      2.11   Optional
      Prepayments.
      The
      Borrowers may at any time and from time to time prepay the Loans, in whole
      or in
      part, without premium or penalty, upon irrevocable notice delivered to the
      Administrative Agent (a) at least three Business Days prior thereto, in the
      case
      of Eurocurrency Loans denominated in Dollars, (b) at least five Business Days
      prior thereto, in the case of Eurocurrency Loans denominated in any Optional
      Currency, and (c) at least one Business Day prior thereto, in the case of ABR
      Loans, which notice shall specify the date and amount of prepayment and whether
      the prepayment is of Eurocurrency Loans or ABR Loans; provided,
      that if
      a Eurocurrency Loan is prepaid on any day other than the last day of the
      Interest Period applicable thereto, the respective Borrower shall also pay
      any
      amounts owing pursuant to Section 2.21. Upon receipt of any such notice the
      Administrative Agent shall promptly notify each relevant Lender thereof. If
      any
      such notice is given, the amount specified in such notice shall be due and
      payable on the date specified therein, together with (except in the case of
      Revolving Credit Loans that are ABR Loans and Swingline Loans) accrued interest
      to such date on the amount prepaid. Partial prepayments of Term Loans and
      Revolving Credit Loans shall be in an aggregate principal amount of $1,000,000
      or a whole multiple of $1,000,000 in thereof. Partial prepayments of Swingline
      Loans shall be in an aggregate principal amount of $100,000 or a whole multiple
      thereof. To the extent that at any time (by virtue of changes in the Exchange
      Rate or otherwise) the aggregate principal amount of the Loans and Letters
      of
      Credit outstanding shall exceed the Total Revolving Credit Commitments then
      in
      effect, the Borrowers shall make prompt repayment of the Loans to the extent
      of
      such excess.

     

    SECTION
      2.12   Mandatory
      Prepayments and Commitment Reductions.
      (a)  Unless the Majority Facility Lenders of each affected Facility
      shall otherwise agree with the Parent Borrower not to require such a prepayment
      of the Term Loans, 

     

    (i) if
      any
      Capital Stock shall be issued by the Parent Borrower or any of its Subsidiaries
      for cash (other than the issuance by the Parent Borrower of Capital Stock to
      directors, officers or employees or to consultants pursuant to any stock option
      plan of the Parent Borrower or any Subsidiary the Net Cash Proceeds of which
      shall not exceed in the aggregate $15,000,000 in any fiscal year unless such
      issuance is made pursuant to the employee stock purchase plan of the Parent
      Borrower existing on the Closing Date (as it may be amended, modified,
      supplemented or replaced so long as after giving effect to any such amendment,
      modification, supplement or replacement, the eligible participants under such
      plan are not substantially different)), and the Consolidated Leverage Ratio
      at
      such time is greater than 2.75, an amount equal to 50% of the Net Cash Proceeds
      thereof shall be applied on the date of such issuance toward the prepayment
      of
      the Term Loans as set forth in Section 2.12(d), or

     

    (ii) if
      any
      Indebtedness shall be incurred by the Parent Borrower or any of its Subsidiaries
      (excluding any Indebtedness incurred in accordance with Section 7.2) an amount
      equal to 100% of the Net Cash Proceeds thereof shall be applied on the date
      of
      such issuance or incurrence toward the prepayment of the Term Loans as set
      forth
      in Section 2.12(d).

     

    (b)  
      Unless the Majority Facility Lenders of each affected Facility shall otherwise
      agree with the Parent Borrower not to require such a prepayment of the Term
      Loans, if on any date the Parent

     

    
      
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    Borrower
      or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale
      or Recovery Event then, unless a Reinvestment Notice shall be delivered in
      respect thereof, such Net Cash Proceeds shall be applied on such date toward
      the
      prepayment of the Term Loans as set forth in Section 2.12(d); provided
      that,
      notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount
      equal to the Reinvestment Prepayment Amount with respect to the relevant
      Reinvestment Event shall be applied toward the prepayment of the Term Loans
      as
      set forth in Section 2.12(d).

     

    (c)  
      Unless the Majority Facility Lenders of each affected Facility shall otherwise
      agree with the Parent Borrower not to require such a prepayment of the Term
      Loans, if, for any fiscal year of the Parent Borrower commencing with the fiscal
      year ending December 31, 2007, there shall be Excess Cash Flow, the Parent
      Borrower shall, on the relevant Excess Cash Flow Application Date, apply the
      Excess Cash Flow Percentage of such Excess Cash Flow toward the prepayment
      of
      the Term Loans as set forth in Section 2.12(d). Each such prepayment shall
      be
      made on a date (an “Excess
      Cash Flow Application Date”)
      no
      later than 5 Business Days after the date on which the financial statements
      of
      the Parent Borrower referred to in Section 6.1(a), for the fiscal year with
      respect to which such prepayment is made, are delivered to the
      Lenders.

     

    (d)  
      Amounts to be applied in connection with prepayments made pursuant to this
      Section 2.12 shall be applied to the prepayment of the Term Loans. The
      application of any prepayment pursuant to Section 2.12 shall be made,
first,
      to ABR
      Loans and, second,
      to
      Eurocurrency Loans. Each prepayment of the Term Loans under Section 2.12 shall
      be accompanied by accrued interest to the date of such prepayment on the amount
      prepaid.

     

    SECTION
      2.13   Conversion
      and Continuation Options.
      (a)   The Parent Borrower may elect from time to time to convert
      Eurocurrency Loans denominated in Dollars to ABR Loans by giving the
      Administrative Agent at least two Business Days’ prior irrevocable notice of
      such election, provided
      that any
      such conversion of Eurocurrency Loans may only be made on the last day of an
      Interest Period with respect thereto. The Parent Borrower may elect from time
      to
      time to convert ABR Loans to Eurocurrency Loans by giving the Administrative
      Agent at least three Business Days’ prior irrevocable notice of such election
      (which notice shall specify the length of the initial Interest Period therefor),
      provided
      that no
      ABR Loan under a particular Facility may be converted into a Eurocurrency Loan
      (i) when any Event of Default has occurred and is continuing and the
      Administrative Agent or the Majority Facility Lenders in respect of such
      Facility have determined in its or their sole discretion not to permit such
      conversions or (ii) after the date that is one month prior to the final
      scheduled termination or maturity date of such Facility. Upon receipt of any
      such notice, the Administrative Agent shall promptly notify each relevant Lender
      thereof.

     

    (b)  
      Any Eurocurrency Loan may be continued as such upon the expiration of the then
      current Interest Period with respect thereto by the Parent Borrower (on its
      own
      behalf or on behalf of any Foreign Subsidiary Borrower) giving irrevocable
      notice to the Administrative Agent, in accordance with the applicable provisions
      of the term “Interest Period” set forth in Section 1.1, of the length of the
      next Interest Period to be applicable to such Loans, provided
      that no
      Eurocurrency Loan under a particular Facility may be continued as such (i)
      when
      any Event of Default has occurred and is continuing and the Administrative
      Agent
      has or the Majority Facility Lenders in respect of such Facility have determined
      in its or their sole discretion not to permit such continuations or (ii) after
      the date that is one month prior to the final scheduled termination or maturity
      date of such Facility, and provided,
      further,
      that if
      the Parent Borrower (on its own behalf or on behalf of any Foreign Subsidiary
      Borrower) shall fail to give any required notice as described above in this
      paragraph or if such continuation is not permitted pursuant to the preceding
      proviso such Loans shall be automatically converted to ABR Loans on the last
      day
      of such then expiring Interest Period. Upon receipt of any such notice, the
      Administrative Agent shall promptly notify each relevant Lender
      thereof.

     

    
      
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    SECTION
      2.14   Limitations
      on Eurocurrency Tranches.
      Notwithstanding anything to the contrary in this Agreement, all borrowings,
      conversions, continuations and optional prepayments of Eurocurrency Loans
      hereunder and all selections of Interest Periods hereunder shall be in such
      amounts and be made pursuant to such elections so that, (a) after giving effect
      thereto, the aggregate principal amount of the Eurocurrency Loans comprising
      each Eurocurrency Tranche shall be equal to $5,000,000 or a whole multiple
      of
      $1,000,000 in excess thereof, (b) no more than ten Eurocurrency Tranches shall
      be outstanding at any one time, and (c) no more than the Dollar Equivalent
      of
      $25,000,000 of the Revolving Credit Loans, in the aggregate, shall be available
      for borrowing as Optional Currency Revolving Loans.

     

    SECTION
      2.15   Interest
      Rates and Payment Dates.
      (a)  Each Eurocurrency Loan shall bear interest for each day during
      each Interest Period with respect thereto at a rate per annum equal to the
      Eurocurrency Rate determined for such day plus the Applicable
      Margin.

     

    (b)  
      Each ABR Loan shall bear interest at a rate per annum equal to the Alternate
      Base Rate plus the Applicable Margin.

     

    (c)  
      (i) If all or a portion of the principal amount of any Loan or Reimbursement
      Obligation shall not be paid when due (whether at the stated maturity, by
      acceleration or otherwise), all outstanding Loans and Reimbursement Obligations
      (whether or not overdue) shall bear interest at a rate per annum which is equal
      to (x) in the case of the Loans, the rate that would otherwise be applicable
      thereto pursuant to the foregoing provisions of this Section 2.15 plus
      2% or
      (y) (1) in the case of Reimbursement Obligations in Dollars, the rate applicable
      to Revolving Credit Loans that are ABR Loans plus
      2%, or
      (2) in the case of Reimbursement Obligations in an Optional Currency, the
      Overnight Eurocurrency Rate for such Optional Currency plus
      the
      Applicable Margin plus
      2%, and
      (ii) if all or a portion of any interest payable on any Loan or Reimbursement
      Obligation or any facility fee or other amount payable hereunder shall not
      be
      paid when due (whether at the stated maturity, by acceleration or otherwise),
      such overdue amount shall bear interest at a rate per annum equal to the rate
      then applicable to ABR Loans under the relevant Facility plus
      2% (in
      the case of overdue amounts in Dollars) or the Overnight Eurocurrency Rate
      for
      the relevant Optional Currency plus
      the
      Applicable Margin plus
      2% (in
      the case of an overdue amount in an Optional Currency), in each case, with
      respect to clauses (i) and (ii) above, from the date of such non payment until
      such amount is paid in full (as well after as before judgment).

     

    (d)  
      Interest shall be payable in arrears on each Interest Payment Date, provided
      that
      interest accruing pursuant to paragraph (c) of this Section 2.15 shall be
      payable from time to time on demand.

     

    SECTION
      2.16   Computation
      of Interest and Fees.
      (a)  Interest, fees and commissions payable pursuant hereto shall be
      calculated on the basis of a 360-day year for the actual days elapsed, except
      that, with respect to ABR Loans the rate of interest on which is calculated
      on
      the basis of the Prime Rate, the interest thereon shall be calculated on the
      basis of a 365- (or 366-, as the case may be) day year for the actual days
      elapsed. The Administrative Agent shall as soon as practicable notify the Parent
      Borrower and the relevant Lenders of each determination of a Eurocurrency Rate.
      Any change in the interest rate on a Loan resulting from a change in the
      Alternate Base Rate or the Eurocurrency Reserve Requirements shall become
      effective as of the opening of business on the day on which such change becomes
      effective. The Administrative Agent shall as soon as practicable notify the
      Parent Borrower and the relevant Lenders of the effective date and the amount
      of
      each such change in interest rate.

     

    (b)  
      Each determination of an interest rate by the Administrative Agent pursuant
      to
      any provision of this Agreement shall be conclusive and binding on the Borrowers
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    absence
      of manifest error. The Administrative Agent shall, at the request of the Parent
      Borrower, deliver to the Parent Borrower a statement showing the quotations
      used
      by the Administrative Agent in determining any interest rate pursuant to Section
      2.15(a) and the calculation of any Eurocurrency Reserve
      Requirements.

     

    SECTION
      2.17   Inability
      to Determine Interest Rate.
      If
      prior to the first day of any Interest Period:

     

    (a)  
      the Administrative Agent shall have reasonably determined that, by reason of
      circumstances affecting the relevant market, adequate and reasonable means
      do
      not exist for ascertaining the Eurocurrency Rate for such Interest Period,
      or

     

    (b)  
      the Administrative Agent shall have received notice from the Majority Facility
      Lenders in respect of the relevant Facility that the Eurocurrency Rate
      determined or to be determined for such Interest Period will not adequately
      and
      fairly reflect the cost to such Lenders (as conclusively certified by such
      Lenders) of making or maintaining their affected Loans during such Interest
      Period,

     

    the
      Administrative Agent shall give telecopy or telephonic notice thereof to the
      Parent Borrower and the relevant Lenders as soon as practicable thereafter.
      If
      such notice is given (w) any Eurocurrency Loans in Dollars under the Facility
      requested to be made on the first day of such Interest Period shall be made
      as
      ABR Loans and any Eurocurrency Loans in an Optional Currency so requested to
      be
      made shall not be made, (x) any Loans in Dollars under the Facility that were
      to
      have been converted on the first day of such Interest Period to Eurocurrency
      Loans shall be continued as ABR Loans, (y) any outstanding Eurocurrency Loans
      in
      Dollars under the Facility shall be converted, on the last day of the
      then-current Interest Period, to ABR Loans and (z) any outstanding Eurocurrency
      Loans in an Optional Currency shall be prepaid on the last day of the
      then-current Interest Period. The Administrative Agent shall withdraw such
      notice as soon as adequate and reasonable means exist for ascertaining the
      Eurocurrency Rate. Until such notice has been withdrawn by the Administrative
      Agent, no further Eurocurrency Loans under the Facility shall be made or
      continued as such, nor shall the Borrowers have the right to convert Loans
      under
      the Facility to Eurocurrency Loans.

     

    SECTION
      2.18   Pro
      Rata Treatment and Payments.
      (a)  Each borrowing by the Borrowers from the Lenders hereunder, each
      payment by the Borrowers on account of any commitment fee and any reduction
      of
      the Commitments of the Lenders shall be made pro rata
      according to the respective Tranche B Term Loan Percentages, Incremental Term
      Loan Percentages or Revolving Credit Percentages, as the case may be, of the
      relevant Lenders.

     

    (b)  
      Each payment (including each prepayment) by the Parent Borrower on account
      of
      principal of and interest on the Term Loans shall be made pro rata
      according to the respective outstanding principal amounts of the Term Loans
      then
      held by the Term Loan Lenders (except as otherwise provided in Section 2.18(d)).
      The amount of each principal prepayment of the Term Loans shall be applied
      to
      reduce the then remaining installments of the Tranche B Term Loans or
      Incremental Term Loans, as the case may be, pro rata
      based
      upon the then remaining principal amount thereof. Amounts prepaid on account
      of
      the Term Loans may not be reborrowed.

     

    (c)  
      Each payment (including each prepayment) by any Borrower on account of principal
      of and interest on any Revolving Credit Loans shall be made pro rata
      according to the respective outstanding principal amounts of such Revolving
      Credit Loans then held by the Revolving Credit Lenders.

    

      
        
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    (d)  
      All payments (including prepayments) to be made by the Borrowers hereunder,
      whether on account of principal, interest, fees or otherwise, shall be made
      without setoff or counterclaim and shall be made prior to 12:00 Noon, Local
      Time, on the due date thereof to the Administrative Agent, for
      the
      account of the Lenders, at the Funding Office, in Dollars and in immediately
      available funds. The Administrative Agent shall distribute such payments to
      the
      Lenders promptly upon receipt in like funds as received. If any payment
      hereunder (other than payments on the Eurocurrency Loans) becomes due and
      payable on a day other than a Business Day, such payment shall be extended
      to
      the next succeeding Business Day. If any payment on a Eurocurrency Loan becomes
      due and payable on a day other than a Business Day, the maturity thereof shall
      be extended to the next succeeding Business Day unless the result of such
      extension would be to extend such payment into another calendar month, in which
      event such payment shall be made on the immediately preceding Business Day.
      In
      the case of any extension of any payment of principal pursuant to the preceding
      two sentences, interest thereon shall be payable at the then applicable rate
      during such extension.

     

    (e)  
      Unless the Administrative Agent shall have been notified in writing by any
      Lender prior to a borrowing that such Lender will not make the amount that
      would
      constitute its share of such borrowing available to the Administrative Agent,
      the Administrative Agent may assume that such Lender is making such amount
      available to the Administrative Agent, and the Administrative Agent may, in
      reliance upon such assumption, make available to the respective Borrower a
      corresponding amount. If such amount is not made available to the Administrative
      Agent by the required time on the Borrowing Date therefor, such Lender shall
      pay
      to the Administrative Agent, on demand, such amount with interest thereon at
      a
      rate equal to the greater of (i) the Federal Funds Rate and (ii) a rate
      determined by the Administrative Agent in accordance with banking industry
      rules
      on interbank compensation, for the period until such Lender makes such amount
      immediately available to the Administrative Agent. A certificate of the
      Administrative Agent submitted to any Lender with respect to any amounts owing
      under this Section 2.18(e) shall be conclusive in the absence of manifest error.
      If such Lender’s share of such borrowing is not made available to the
      Administrative Agent by such Lender within three Business Days of such Borrowing
      Date, the Administrative Agent shall also be entitled to recover such amount
      with interest thereon at the rate per annum applicable to ABR Loans under the
      relevant Facility, on demand, from the applicable Borrower, and, if so
      recovered, such amount shall no longer be deemed outstanding
      hereunder.

     

    (f)  
      Unless the Administrative Agent shall have been notified in writing by any
      Borrower prior to the date of any payment being made hereunder that such
      Borrower will not make such payment to the Administrative Agent, the
      Administrative Agent may assume that such Borrower is making such payment,
      and
      the Administrative Agent may, but shall not be required to, in reliance upon
      such assumption, make available to the Lenders their respective pro rata
      shares
      of a corresponding amount. If such payment is not made to the Administrative
      Agent by such Borrower within three Business Days of such required date, the
      Administrative Agent shall be entitled to recover, on demand, from each Lender
      to which any amount which was made available pursuant to the preceding sentence,
      such amount with interest thereon at the rate per annum equal to the daily
      average Federal Funds Effective Rate. Nothing herein shall be deemed to limit
      the rights of the Administrative Agent or any Lender against the respective
      Borrower.

     

    SECTION
      2.19   Requirements
      of Law.
      (a)   If the adoption of or any change in any Requirement of Law or in
      the interpretation or application thereof or compliance by any Lender with
      any
      request or directive (whether or not having the force of law) from any central
      bank or other Governmental Authority made subsequent to the date
      hereof:

     

    (i) shall
      impose, modify or hold applicable any reserve, special deposit, compulsory
      loan
      or similar requirement against assets held by, deposits or other liabilities
      

     

    
      
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    in
      or for the account of, advances, loans or other extensions of credit
      by, or any other acquisition of funds by, any office of such Lender which is
      not
      otherwise included in the determination of the Eurocurrency Rate hereunder;
      or

    (ii) shall
      impose on such Lender any other condition;

     

    and
      the
      result of any of the foregoing is to increase the cost to such Lender, by an
      amount which such Lender deems to be material, of making, converting into,
      continuing or maintaining Eurocurrency Loans or issuing or participating in
      Letters of Credit, or to reduce any amount receivable hereunder in respect
      thereof, then, in any such case, the Parent Borrower shall promptly pay (or
      shall cause the relevant Borrower to pay) such Lender, upon its demand, any
      additional amounts necessary to compensate such Lender for such increased cost
      or reduced amount receivable. If any Lender becomes entitled to claim any
      additional amounts pursuant to this Section 2.19, it shall promptly notify
      the
      Parent Borrower (with a copy to the Administrative Agent) of the event by reason
      of which it has become so entitled (and any related calculations). 

     

    (b)  
      If any Lender shall have determined that the adoption of or any change in any
      Requirement of Law regarding capital adequacy or in the interpretation or
      application thereof or compliance by such Lender or any corporation controlling
      such Lender with any request or directive regarding capital adequacy (whether
      or
      not having the force of law) from any Governmental Authority made subsequent
      to
      the date hereof shall have the effect of reducing the rate of return on such
      Lender’s or such corporation’s capital as a consequence of its obligations to
      lend hereunder or under or in respect of any Letter of Credit to a level below
      that which such Lender or such corporation could have achieved but for such
      adoption, change or compliance (taking into consideration such Lender’s or such
      corporation’s policies with respect to capital adequacy) by an amount deemed by
      such Lender to be material, then from time to time, after submission by such
      Lender to the Parent Borrower (with a copy to the Administrative Agent) of
      a
      written request therefor, the Parent Borrower shall pay (or shall cause the
      relevant Borrower to pay) to such Lender such additional amount or amounts
      as
      will compensate such Lender or such corporation for such reduction provided
      that the
      respective Borrower shall not be required to compensate a Lender pursuant to
      this paragraph for any amounts incurred more than twelve months prior to the
      date that such Lender notifies the Parent Borrower of such Lender’s intention to
      claim compensation therefor; and provided further
      that, if
      the circumstances giving rise to such claim have a retroactive effect, then
      such
      twelve-month period shall be extended to include the period of such retroactive
      effect. 

     

    (c)  
      A certificate as to any additional amounts payable pursuant to this Section
      2.19
      submitted by any Lender to the Parent Borrower (with a copy to the
      Administrative Agent) shall contain reasonable supporting calculations and
      an
      explanation in connection therewith and shall be conclusive in the absence
      of
      manifest error. The obligations of the Borrowers pursuant to this Section 2.19
      shall survive the termination of this Agreement and the payment of the Loans
      and
      all other amounts payable hereunder, except to the extent provided for in
      Section 2.19(b).

     

    SECTION
      2.20   Taxes.
      (a)  All payments made by any Borrower under this Agreement shall be
      made free and clear of, and without deduction or withholding for or on account
      of, any present or future income, stamp or other taxes, levies, imposts, duties,
      charges, fees, deductions or withholdings, now or hereafter imposed, levied,
      collected, withheld or assessed by any Governmental Authority, excluding net
      income taxes and franchise taxes (imposed in lieu of net income taxes) imposed
      on the Administrative Agent or any Lender by any jurisdiction under the laws
      of
      which the Administrative Agent or the Lender is organized or in which its
      principal office is located or, in the case of any Lender, in which its
      applicable lending office is located. If any such non-excluded taxes, levies,
      imposts, duties, charges, fees, deductions or withholdings (“Non-Excluded
      Taxes”)
      or
      Other Taxes are required to be withheld from any amounts payable to the
      Administrative Agent or any Lender hereunder, the amounts so 

     

    
      
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    payable
      to the Administrative Agent or such Lender shall be increased to the extent
      necessary to yield to the Administrative Agent or such Lender (after payment
      of
      all Non-Excluded Taxes and Other Taxes) interest or any such other amounts
      payable hereunder at the rates or in the amounts specified in this Agreement,
      provided,
      however,
      that no
      Borrower shall be required to increase any such amounts payable to any
Lender with respect to any Non-Excluded Taxes (i) that are attributable
      to such Lender’s failure to comply with the requirements of paragraph (d) or (e)
      of this Section 2.20 or (ii) that are United States withholding taxes that
      would
      be imposed on amounts payable to such Lender at the time the Lender becomes
      a
      party to this Agreement, except to the extent that such Lender’s assignor (if
      any) was entitled, at the time of assignment, to receive additional amounts
      from
      any Borrower with respect to such Non-Excluded Taxes pursuant to Section
      2.20(a).

     

    (b)  
      In addition, the relevant Borrower shall pay any Other Taxes to the relevant
      Governmental Authority in accordance with applicable law.

     

    (c)  
      Whenever any Non-Excluded Taxes or Other Taxes are payable by any Borrower,
      as
      promptly as possible thereafter such Borrower shall send to the Administrative
      Agent for the account of the Administrative Agent or relevant Lender, as the
      case may be, a certified copy of an original official receipt received by such
      Borrower showing payment thereof. If the relevant Borrower fails to pay any
      Non-Excluded Taxes or Other Taxes when due to the appropriate taxing authority
      or fails to remit to the Administrative Agent the required receipts or other
      required documentary evidence, such Borrower shall indemnify the Administrative
      Agent and the Lenders for any incremental taxes, interest or penalties that
      may
      become payable by the Administrative Agent or any Lender as a result of any
      such
      failure. The agreements in this Section 2.20 shall survive the termination
      of
      this Agreement and the payment of the Loans and all other amounts payable
      hereunder for a period of twelve months after the date hereof.

     

    (d)  
      Each Lender (or Transferee) that is not a “U.S. Person” as defined in Section
      7701(a)(30) of the Code (a “Non-U.S.
      Lender”)
      shall
      deliver to the Parent Borrower and the Administrative Agent (or, in the case
      of
      a Participant, to the Lender from which the related participation shall have
      been purchased) two copies of either U.S. Internal Revenue Service Form W-8BEN
      or Form W-8ECI, or, in the case of a Non-U.S. Lender claiming exemption from
      U.S. federal withholding tax under Section 871(h) or 881(c) of the Code with
      respect to payments of “portfolio interest”, a statement substantially in the
      form of Exhibit F and a Form W-8BEN, or any subsequent versions thereof or
      successors thereto, properly completed and duly executed by such Non-U.S. Lender
      claiming complete exemption from, or a reduced rate of, U.S. federal withholding
      tax on all payments by any Borrower under this Agreement and the other Loan
      Documents. Such forms shall be delivered by each Non-U.S. Lender on or before
      the date it becomes a party to this Agreement (or, in the case of any
      Participant, on or before the date such Participant purchases the related
      participation). In addition, each Non-U.S. Lender shall deliver such forms
      promptly upon the obsolescence or invalidity of any form previously delivered
      by
      such Non-U.S. Lender. Each Non-U.S. Lender shall promptly notify the Parent
      Borrower at any time it determines that it is no longer in a position to provide
      any previously delivered certificate to the Parent Borrower (or any other form
      of certification adopted by the U.S. taxing authorities for such purpose).
      Notwithstanding any other provision of this paragraph, a Non-U.S. Lender shall
      not be required to deliver any form pursuant to this paragraph that such
      Non-U.S. Lender is not legally able to deliver.

     

    (e)  
      A Lender that is entitled to an exemption from or reduction of non-U.S.
      withholding tax under the law of the jurisdiction in which any Borrower is
      located, or any treaty to which such jurisdiction is a party, with respect
      to
      payments under this Agreement shall deliver to the Parent Borrower (with a
      copy
      to the Administrative Agent), at the time or times prescribed by applicable
      law
      or reasonably requested by the Parent Borrower, such properly completed and
      executed documentation prescribed by applicable law as will permit such payments
      to be made without withholding or at a reduced rate, provided
      that
      such Lender is legally entitled to complete, execute and deliver such
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    such Lender’s reasonable judgment such completion, execution
      or submission would not materially prejudice the legal position of such
      Lender.

    SECTION
      2.21  Indemnity.
      Each
      Borrower agrees to indemnify each Lender for, and to hold each Lender harmless
      from, any loss or expense (in each case as reasonably determined by such Lender)
      that such Lender may sustain or incur as a consequence of (a) default by such
      Borrower in making a borrowing of, conversion into or continuation of
      Eurocurrency Loans after such Borrower has given a notice requesting the same
      in
      accordance with the provisions of this Agreement (except as a result of a notice
      by the Administrative Agent pursuant to Section 2.17), (b) default by such
      Borrower in making any prepayment of or conversion from Eurocurrency Loans
      after
      such Borrower has given a notice thereof in accordance with the provisions
      of
      this Agreement or (c) the making of a prepayment of Eurocurrency Loans on a
      day
      that is not the last day of an Interest Period with respect thereto (including
      as a result of an Event of Default). Without limiting the generality of the
      foregoing, such indemnification shall include the costs and expenses of each
      Lender that are attributable to the premature unwinding of any hedging agreement
      entered into by such Lender in respect of the foreign currency exposure
      attributable to such actual or proposed Eurocurrency Loan. Such indemnification
      may include an amount equal to the excess, if any, of (i) the amount of interest
      that would have accrued on the amount so prepaid, or not so borrowed, converted
      or continued, for the period from the date of such prepayment or of such failure
      to borrow, convert or continue to the last day of such Interest Period (or,
      in
      the case of a failure to borrow, convert or continue, the Interest Period that
      would have commenced on the date of such failure) in each case at the applicable
      rate of interest for such Loans provided for herein (excluding, however, the
      Applicable Margin included therein, if any) over (ii) the amount of interest
      (as
      reasonably determined by such Lender) that would have accrued to such Lender
      on
      such amount by placing such amount on deposit for a comparable period with
      leading banks in the interbank eurocurrency market. A certificate as to any
      amounts payable pursuant to this Section 2.21 submitted to the relevant Borrower
      by any Lender shall be conclusive in the absence of manifest error. This
      covenant shall survive the termination of this Agreement and the payment of
      the
      Loans and all other amounts payable hereunder.

     

    SECTION
      2.22   Illegality.
      Notwithstanding any other provision herein, if the adoption of or any change
      in
      any Requirement of Law or in the interpretation or application thereof shall
      make it unlawful for any Lender to make or maintain Eurocurrency Loans as
      contemplated by this Agreement, (a) the commitment of such Lender hereunder
      to
      make Eurocurrency Loans, continue Eurocurrency Loans as such and convert ABR
      Loans to Eurocurrency Loans shall forthwith be cancelled and (b) such Lender’s
      Loans then outstanding as Eurocurrency Loans, if any, shall be converted
      automatically to ABR Loans on the respective last days of the then current
      Interest Periods with respect to such Loans or within such earlier period as
      required by law. If any such conversion of a Eurocurrency Loan occurs on a
      day
      which is not the last day of the then current Interest Period with respect
      thereto, the relevant Borrower shall pay to such Lender such amounts, if any,
      as
      may be required pursuant to Section 2.21.

     

    SECTION
      2.23   Change
      of Lending Office.
      Each
      Lender agrees that, upon the occurrence of any event giving rise to the
      operation of Section 2.19 or 2.20(a) with respect to such Lender, it will,
      if
      requested by the Parent Borrower, use reasonable efforts (subject to overall
      policy considerations of such Lender) to designate another lending office for
      any Loans affected by such event with the object of avoiding the consequences
      of
      such event; provided
      that
      such designation is made on terms that, in the sole judgment of such Lender,
      cause such Lender and its lending office(s) to suffer no economic, legal or
      regulatory disadvantage, and provided,
      further,
      that
      nothing in this Section 2.23 shall affect or postpone any of the obligations
      of
      the Borrowers or the rights of any Lender pursuant to Section 2.19 or
      2.20(a).

     

    SECTION
      2.24   Replacement
      of Lenders under Certain Circumstances.
      The
      Parent Borrower shall be permitted to replace any Lender which (a) requests
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    pursuant
      to Section 2.19 or 2.20 or (b) defaults in its obligation to make Loans
      hereunder, with a replacement financial institution; provided
      that (i)
      such replacement does not conflict with any Requirement of Law, (ii) no Event
      of
      Default shall have occurred and be continuing at the time of such replacement,
      (iii) prior to any such replacement, such Lender shall have taken no action
      under Section 2.23 so as to eliminate the continued need for payment of
      amounts owing pursuant to Section 2.19 or 2.20, (iv) the replacement financial
      institution shall purchase, at par, all Loans and other amounts owing to such
      replaced Lender on or prior to the date of replacement, (v) the relevant
      Borrower shall be liable to such replaced Lender under Section 2.21 if any
      Eurocurrency Loan owing to such replaced Lender shall be purchased other than
      on
      the last day of the Interest Period relating thereto, (vi) the replacement
      financial institution, if not already a Lender, shall be reasonably satisfactory
      to the Administrative Agent, (vii) the replaced Lender shall be obligated to
      make such replacement in accordance with the provisions of Section 10.6
      (provided
      that the
      relevant Borrower shall be obligated to pay the registration and processing
      fee
      referred to therein), (viii) until such time as such replacement shall be
      consummated, the relevant Borrower shall pay all additional amounts (if any)
      required pursuant to Section 2.19 or 2.20, as the case may be, and (ix) any
      such replacement shall not be deemed to be a waiver of any rights which the
      Borrowers, the Administrative Agent or any other Lender shall have against
      the
      replaced Lender.

     

    SECTION
      2.25   Foreign
      Subsidiary Borrowers.
      (a)  The Parent Borrower may at any time, with the prior consent of
      the Administrative Agent (such consent not to be unreasonably withheld or
      delayed), add as a party to this Agreement any Wholly-Owned Foreign Subsidiary
      to be a Foreign Subsidiary Borrower, provided
      that
      there shall be not more than three Foreign Subsidiary Borrowers at any time.
      Upon satisfaction of the conditions specified in Section 5.3, such Foreign
      Subsidiary shall for all purposes be a party hereto as a Foreign Subsidiary
      Borrower as fully as if it had executed and delivered this Agreement. The
      Administrative Agent shall notify the Revolving Credit Lenders at least five
      Business Days prior to granting such consent, and if any Revolving Credit Lender
      notifies the Administrative Agent within five Business Days that it is not
      permitted by applicable Requirements of Law or any of its organizational
      policies to make Optional Currency Revolving Credit Loans to, or participate
      in
      Letters of Credit for the account of, the relevant Foreign Subsidiary, shall
      withhold such consent or shall give such consent only upon effecting changes
      to
      the provisions of this Article II as are contemplated by paragraph (c) of this
      Section 2.25 that will assure that such Revolving Credit Lender is not required
      to make Revolving Credit Loans to, or participate in Letters of Credit for
      the
      account of, such Foreign Subsidiary.

     

    (b)  
      So long as the principal of and interest on any Loans made to any Foreign
      Subsidiary Borrower under this Agreement shall have been paid in full and all
      other obligations of such Foreign Subsidiary Borrower under this Agreement
      shall
      have been fully performed, the Parent Borrower may, by not less than five
      Business Days’ prior notice to the Administrative Agent (which shall promptly
      notify the relevant Lenders thereof), terminate such Subsidiary’s status as a
“Foreign Subsidiary Borrower”.

     

    (c)  
      In order to accommodate the addition of a Wholly-Owned Foreign Subsidiary as
      a
      Foreign Subsidiary Borrower where one or more Revolving Credit Lenders are
      able
      and willing to lend Revolving Credit Loans to, and participate in Letters of
      Credit issued for the account of, such Wholly-Owned Foreign Subsidiary, but
      other Revolving Credit Lenders are not so able and willing, the Administrative
      Agent shall be permitted, with the consent of the Parent Borrower, to effect
      such changes to the provisions of this Article II as it reasonably believes
      are
      appropriate in order for such provisions to operate in a customary and usual
      manner for “multiple-currency” syndicated lending agreements to a corporation
      and certain of its foreign subsidiaries, all with the intention of providing
      procedures for the Revolving Credit Lenders who are so able and willing to
      extend credit to such Wholly-Owned Foreign Subsidiaries and for the other
      Revolving Credit Lenders not to be required to do so. Prior to effecting any
      such changes, the Administrative Agent shall give all Revolving Credit Lenders
      at least five Business Days’ notice thereof and an opportunity to comment
      thereon.

     

     

    
      
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    SECTION
      2.26   Parent
      Borrower as Agent for Foreign Subsidiary Borrowers.
      (a)  Each Foreign Subsidiary Borrower hereby irrevocably appoints the
      Parent Borrower as the borrowing agent and attorney-in-fact for such Foreign
      Subsidiary Borrower, which appointment shall remain in full force and
      effect unless and until Administrative Agent shall have received prior written
      notice signed by the Parent Borrower that it has resigned such position. Each
      Foreign Subsidiary Borrower hereby irrevocably appoints and authorizes the
      Parent Borrower to (i) provide all notices and instructions under this Agreement
      and (ii) take such action as the Parent Borrower deems appropriate on its behalf
      to obtain Revolving Credit Loans and the issuance of Letters of Credit and
      to
      exercise such other powers as are reasonably incidental thereto to carry out
      the
      purposes of this Agreement.

     

    (b)  
      Each Foreign Subsidiary Borrower hereby severally agrees to indemnify each
      Lender and the Administrative Agent and hold each Lender and the Administrative
      Agent harmless against any and all liability, expense, loss or claim of damage
      or injury, made against the Lenders and the Administrative Agent by such Foreign
      Subsidiary Borrower or by any third party whosoever, arising from or incurred
      by
      reason of the Lenders’ or the Administrative Agent’s relying on any instructions
      of the Parent Borrower on behalf of such Foreign Subsidiary Borrower, except
      that such Foreign Subsidiary Borrower will have no liability under this
      subsection 2.26(b) with respect to any liability that is found by a court of
      competent jurisdiction to have resulted from the gross negligence or willful
      misconduct of such Lender or the Administrative Agent.

     

    ARTICLE
      III. LETTERS
      OF CREDIT

     

    SECTION
      3.1   L/C
      Commitment.
      (a)  Subject to the terms and conditions hereof, the Issuing Lender,
      in reliance on the agreements of the other Revolving Credit Lenders set forth
      in
      Section 3.4(a), agrees to issue letters of credit (“Letters
      of Credit”)
      for
      the account of any Borrower on any Business Day during the Revolving Credit
      Commitment Period in such form as may be approved from time to time by the
      Issuing Lender; provided
      that the
      Issuing Lender shall have no obligation to issue any Letter of Credit if, after
      giving effect to such issuance, (i) the L/C Obligations would exceed the L/C
      Commitment or (ii) the aggregate amount of the Available Revolving Credit
      Commitments would be less than zero. Each Letter of Credit shall (i) be
      denominated in Dollars or an Optional Currency and (ii) expire no later than
      the
      earlier of (x) the first anniversary of its date of issuance and (y) the date
      which is five Business Days prior to the Revolving Credit Termination Date,
      provided
      that any
      Letter of Credit with a one-year term may provide for the renewal thereof for
      additional one-year periods (which shall in no event extend beyond the date
      referred to in clause (y) above).

     

    (b)  
      Each Letter of Credit shall be subject to the Uniform Customs and, to the extent
      not inconsistent therewith, the laws of the State of New York.

     

    (c)  
      The Issuing Lender shall not at any time be obligated to issue any Letter of
      Credit hereunder if such issuance would conflict with, or cause the Issuing
      Lender or any L/C Participant to exceed any limits imposed by, any applicable
      Requirement of Law.

     

    SECTION
      3.2   Procedure
      for Issuance of Letter of Credit.
      The
      Parent Borrower (on its own behalf or on behalf of a Foreign Subsidiary
      Borrower) may from time to time request that the Issuing Lender issue a Letter
      of Credit by delivering to the Issuing Lender at its address for notices
      specified herein an Application therefor, completed to the satisfaction of
      the
      Issuing Lender, and such other certificates, documents and other papers and
      information as the Issuing Lender may reasonably request. Upon receipt of any
      Application, the Issuing Lender will process such Application and the
      certificates, documents and other papers and information delivered to it in
      connection therewith in accordance with its customary procedures and shall
      promptly issue the Letter of Credit requested thereby (but in no event shall
      the
      Issuing Lender be required to issue any Letter of Credit earlier than three
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    receipt
      of the Application therefor and all such other certificates, documents and
      other
      papers and information relating thereto) by issuing the original of such Letter
      of Credit to the beneficiary thereof or as otherwise may be agreed to by the
      Issuing Lender and the Parent Borrower. The Issuing Lender shall furnish a
      copy
      of such Letter of Credit to the Parent Borrower promptly following the issuance
      thereof. The Issuing Lender shall promptly furnish to the Administrative Agent,
      which shall in turn promptly furnish to the Lenders, notice of the issuance
      of
      each Letter of Credit (including the amount thereof).

     

    SECTION
      3.3   Commissions,
      Fees and Other Charges.
      (a)  The relevant Borrower will pay a commission on all undrawn and
      unpaid Letters of Credit at a per annum rate equal to the Applicable Margin
      then
      in effect with respect to Eurocurrency Loans under the Revolving Credit
      Facility, shared ratably among the Revolving Credit Lenders and payable
      quarterly in arrears on each L/C Fee Payment Date after the issuance date.
      In
      addition, the relevant Borrower shall pay to the Issuing Lender for its own
      account a fronting fee of 1/4 of 1% per annum on the undrawn and unexpired
      amount of each Letter of Credit, payable quarterly in arrears on each L/C Fee
      Payment Date after the Issuance Date.

     

    (b)  
      In addition to the foregoing fees and commissions, the relevant Borrower shall
      pay or reimburse the Issuing Lender for such normal and customary costs and
      expenses as are incurred or charged by the Issuing Lender in issuing,
      negotiating, effecting payment under, amending or otherwise administering any
      Letter of Credit.

     

    SECTION
      3.4   L/C
      Participations.
      (a)  The Issuing Lender irrevocably agrees to grant and hereby grants
      to each L/C Participant, and, to induce the Issuing Lender to issue Letters
      of
      Credit hereunder, each L/C Participant irrevocably agrees to accept and purchase
      and hereby accepts and purchases from the Issuing Lender, on the terms and
      conditions hereinafter stated, for such L/C Participant’s own account and risk
      an undivided interest equal to such L/C Participant’s Revolving Credit
      Percentage in the Issuing Lender’s obligations and rights under each Letter of
      Credit issued hereunder and the amount of each draft paid by the Issuing Lender
      thereunder. Each L/C Participant unconditionally and irrevocably agrees with
      the
      Issuing Lender that, if a draft is paid under any Letter of Credit for which
      the
      Issuing Lender is not reimbursed in full by the respective Borrower in
      accordance with the terms of this Agreement, such L/C Participant shall pay
      to
      the Issuing Lender upon demand at the Issuing Lender’s address for notices
      specified herein an amount equal to such L/C Participant’s Revolving Credit
      Percentage of the amount of such draft, or any part thereof, which is not so
      reimbursed.

     

    (b)  
      If any amount required to be paid by any L/C Participant to the Issuing Lender
      pursuant to Section 3.4(a) in respect of any unreimbursed portion of any payment
      made by the Issuing Lender under any Letter of Credit is paid to the Issuing
      Lender within three Business Days after the date such payment is due, such
      L/C
      Participant shall pay to the Issuing Lender on demand an amount equal to the
      product of (i) such amount, times (ii) the daily average Federal Funds Rate
      (or,
      in the case of any such amount in an Optional Currency, the daily average rate
      for the settlement of obligations between banks in such currency as determined
      by the Administrative Agent) during the period from and including the date
      such
      payment is required to the date on which such payment is immediately available
      to the Issuing Lender, times (iii) a fraction the numerator of which is the
      number of days that elapse during such period and the denominator of which
      is
      360. If any such amount required to be paid by any L/C Participant pursuant
      to
      Section 3.4(a) is not made available to the Issuing Lender by such L/C
      Participant within three Business Days after the date such payment is due,
      the
      Issuing Lender shall be entitled to recover from such L/C Participant, on
      demand, such amount with interest thereon calculated from such due date at
      the
      rate per annum applicable to ABR Loans under the Facility (or, in the case
      of
      any such amount in an Optional Currency, the Overnight Eurocurrency Rate for
      such Optional Currency plus the Applicable Margin for Eurocurrency Loans).
      A
      certificate of the Issuing Lender submitted to any L/C Participant with respect
      to any amounts owing under this Section 3.4 shall be conclusive in the absence
      of manifest error.

     

    
      
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    (c)  
      Whenever, at any time after the Issuing Lender has made payment under any Letter
      of Credit and has received from any L/C Participant its pro rata
      share of
      such payment in accordance with Section 3.4(a), the Issuing Lender receives
      any
      payment related to such Letter of Credit (whether directly from any Borrower
      or
      otherwise, including proceeds of collateral applied thereto by the Issuing
      Lender), or any payment of interest on account thereof, the Issuing Lender
      will
      distribute to such L/C Participant its pro rata
      share
      thereof; provided
      that in
      the event that any such payment received by the Issuing Lender shall be required
      to be returned by the Issuing Lender, such L/C Participant shall return to
      the
      Issuing Lender the portion thereof previously distributed by the Issuing Lender
      to it.

     

    SECTION
      3.5   Reimbursement
      Obligation of the Borrowers.
      Each
      Borrower agrees to reimburse the Issuing Lender on each date on which the
      Issuing Lender notifies the relevant Borrower of the date and amount of a draft
      presented under any Letter of Credit and paid by the Issuing Lender for the
      amount of (a) such draft so paid and (b) any taxes, fees, charges or other
      costs
      or expenses incurred by the Issuing Lender in connection with such payment;
      provided
      that if
      the Issuing Lender does not notify the relevant Borrower as provided for above
      earlier than 9:30 A.M. (New York City time) on the date such draft is paid
      then
      such reimbursement payment may be made the Business Day immediately subsequent
      to the date such draft is paid. Each such payment shall be made to the Issuing
      Lender at its address for notices specified herein or as it may otherwise direct
      in lawful money of the United States or in the relevant Optional Currency,
      as
      the case maybe, and in immediately available funds. Interest shall be payable
      on
      any and all amounts remaining unpaid by the relevant Borrower under this Article
      III from the date such amounts become payable (whether at stated maturity,
      by
      acceleration or otherwise) until payment in full at the rate set forth in
      Section 2.15(c); provided
      that if
      the Issuing Lender does not notify the relevant Borrower as provided for above
      earlier than 9:30 A.M. (New York City time) on the date such draft is paid,
      then
      for such day (and until the next Business Day) all amounts remaining unpaid
      in
      respect of such notice shall bear interest the rate set forth in Section
      2.15(c). Each drawing under any Letter of Credit shall (unless an event of
      the
      type described in clause (i) or (ii) of Section 8(f) shall have occurred and
      be
      continuing with respect to the relevant Borrower, in which case the procedures
      specified in Section 3.4 for funding by L/C Participants shall apply) constitute
      a request by such Borrower to the Administrative Agent for a borrowing pursuant
      to Section 2.5 of ABR Loans in the amount of such drawing. The Borrowing Date
      with respect to such borrowing shall be the date of such drawing.

     

    SECTION
      3.6   Obligations
      Absolute.
      Each
      Borrower’s obligations under this Article III shall be absolute and
      unconditional under any and all circumstances and irrespective of any setoff,
      counterclaim or defense to payment which such Borrower may have or have had
      against the Issuing Lender, any beneficiary of a Letter of Credit or any other
      Person. Each Borrower also agrees with the Issuing Lender that the Issuing
      Lender shall not be responsible for, and such Borrower’s Reimbursement
      Obligations under Section 3.5 shall not be affected by, among other things,
      the
      validity or genuineness of documents or of any endorsements thereon, even though
      such documents shall in fact prove to be invalid, fraudulent or forged, or
      any
      dispute between or among such Borrower and any beneficiary of any Letter of
      Credit or any other party to which such Letter of Credit may be transferred
      or
      any claims whatsoever of such Borrower against any beneficiary of such Letter
      of
      Credit or any such transferee. The Issuing Lender shall not be liable for any
      error, omission, interruption or delay in transmission, dispatch or delivery
      of
      any message or advice, however transmitted, in connection with any Letter of
      Credit, except for errors or omissions found by a court of competent
      jurisdiction to have resulted from the gross negligence or willful misconduct
      of
      the Issuing Lender. Each Borrower agrees that any action taken or omitted by
      the
      Issuing Lender under or in connection with any Letter of Credit or the related
      drafts or documents, if done in the absence of gross negligence or willful
      misconduct and in accordance with the standards or care specified in the Uniform
      Commercial Code of the State of New York, shall be binding on such Borrower
      and
      shall not result in any liability of the Issuing Lender to such
      Borrower.

     

    
      
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    SECTION
      3.7   Letter
      of Credit Payments.
      If any
      draft shall be presented for payment under any Letter of Credit, the Issuing
      Lender shall promptly notify the relevant Borrower of the date and amount
      thereof. The responsibility of the Issuing Lender to the relevant Borrower
      in
      connection with any draft presented for payment under any Letter of Credit
      shall, in addition to any payment obligation expressly provided for in such
      Letter of Credit, be limited to determining that the documents (including each
      draft) delivered under such Letter of Credit in connection with such presentment
      are in conformity with such Letter of Credit.

     

    SECTION
      3.8   Applications.
      To the
      extent that any provision of any Application related to any Letter of Credit
      is
      inconsistent with the provisions of this Article III, the provisions of this
      Article III shall apply.

     

    SECTION
      3.9   Transitional
      Provisions.
      On the
      Closing Date, the certain letters of credit outstanding under the Previous
      Credit Agreement as of the Closing Date (the “Existing
      Facility Letters of Credit”),
      (i)
      shall be deemed to be Letters of Credit issued pursuant to and in compliance
      with this Article III, (ii) the face amount of such Existing Facility Letters
      of
      Credit shall be included in the calculation of the available L/C Commitment
      and
      the Revolving Extensions of Credit, (iii) the provisions of this Article III
      shall apply thereto, and the Parent Borrower and the Revolving Credit Lenders
      hereunder hereby expressly assume all obligations with respect to such Letters
      of Credit and (iv) all liabilities of the Parent Borrower with respect to such
      Existing Facility Letters of Credit shall constitute Obligations.

     

    ARTICLE
      IV. REPRESENTATIONS
      AND WARRANTIES

     

    To
      induce
      the Administrative Agent and the Lenders to enter into this Agreement and to
      make the Loans and issue or participate in the Letters of Credit, the Parent
      Borrower hereby represents and warrants to the Administrative Agent and each
      Lender that:

     

    SECTION
      4.1   Financial
      Condition.
      

     

    The
      audited consolidated balance sheets of the Parent Borrower as at
      December 31, 2004 and 2005 and the related consolidated statements of
      income and of cash flows for the fiscal years ended December 31, 2003, 2004
      and
      2005, reported on by and accompanied by an unqualified report from
      PricewaterhouseCoopers LLP, present fairly in all material respects the
      consolidated financial position of the Parent Borrower as at such date, and
      the
      consolidated results of its operations and its consolidated cash flows for
      the
      respective fiscal years then ended. All such financial statements, including
      the
      related schedules and any notes thereto, have been prepared in accordance with
      GAAP applied consistently throughout the periods involved (except as approved
      by
      the aforementioned firm of accountants and disclosed therein). As of the date
      of
      the most recent financial statements referred to in this paragraph (b), the
      Parent Borrower and its Subsidiaries did not have any material Guarantee
      Obligations, contingent liabilities and liabilities for taxes, or any long-term
      leases or unusual forward or long-term commitments, including, without
      limitation, any interest rate or foreign currency swap or exchange transaction
      or other obligation in respect of derivatives, that were not reflected in such
      financial statements, except as set forth on Schedule 4.1(b). During the period
      from December 31, 2005 to and including the date hereof, there has been no
      Disposition by the Parent Borrower of any material part of its business or
      Property, except as set forth on Schedule 4.1.

     

    SECTION
      4.2   No
      Change.
      Since
      December 31, 2005, there has been no development or event which has had or
      would
      reasonably be expected to have a Material Adverse Effect.

     

    SECTION
      4.3   Corporate
      Existence; Compliance with Law.
      Each of
      the Parent Borrower and its Subsidiaries (a) is duly organized, validly existing
      and in good standing under the laws 

     

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

     

    SECTION
      4.4   Corporate
      Power; Authorization; Enforceable
      Obligations.
      Each
      Loan Party has the corporate power and authority, and the legal right, to make,
      deliver and perform the Loan Documents to which it is a party and, in the case
      of the Borrowers, to borrow hereunder. Each Loan Party has taken all necessary
      corporate action to authorize the execution, delivery and performance of the
      Loan Documents to which it is a party and, in the case of the Borrowers, to
      authorize the borrowings on the terms and conditions of this Agreement. No
      consent or authorization of, filing with, notice to or other act by or in
      respect of, any Governmental Authority or any other Person is required in
      connection with the borrowings hereunder or with the execution, delivery,
      performance, validity or enforceability of this Agreement or any of the Loan
      Documents, except (i) consents, authorizations, filings and notices described
      in
      Schedule 4.4 and (ii) the filings referred to in Section 4.19. Each Loan
      Document has been duly executed and delivered on behalf of each Loan Party
      thereto. This Agreement constitutes, and each other Loan Document upon execution
      will constitute, a legal, valid and binding obligation of each Loan Party party
      thereto, enforceable against each such Loan Party in accordance with its terms,
      except as enforceability may be limited by applicable bankruptcy, insolvency,
      fraudulent transfer, reorganization, moratorium and similar laws relating to
      or
      affecting the enforcement of creditors’ rights and to general equity principles
      (whether enforcement is sought by proceedings in equity or at law).

     

    SECTION
      4.5   No
      Legal Bar.
      The execution, delivery and performance of this Agreement and
      the other Loan Documents, the issuance of Letters of Credit, the borrowings
      hereunder and the use of the proceeds thereof will not violate any Requirement
      of Law or any Contractual Obligation of the Parent Borrower or any of its
      Subsidiaries in any material respect and will not result in, or require, the
      creation or imposition of any Lien on any of their respective properties or
      revenues pursuant to any Requirement of Law or any such Contractual Obligation
      (other than the Liens created by the Security Documents). No Requirement of
      Law
      (excluding compliance in the ordinary course of business with the laws and
      regulations enforced by the United States Food and Drug Administration and
      any
      compliance with comparable health and safety requirements) or Contractual
      Obligation applicable to the Parent Borrower or any of its Subsidiaries would
      reasonably be expected to have a Material Adverse Effect.

     

    SECTION
      4.6   No
      Material Litigation.
      Except
      as set forth on Schedule 4.6, no litigation, investigation or proceeding of
      or
      before any arbitrator or Governmental Authority is pending or, to the knowledge
      of the Parent Borrower, threatened by or against the Parent Borrower or any
      of
      its Subsidiaries or against any of their respective properties or revenues
      (a)
      with respect to any of the Loan Documents or any of the transactions
      contemplated hereby or thereby or (b) which would reasonably be expected to
      have
      a Material Adverse Effect.

     

    SECTION
      4.7   No
      Default.
      Neither
      the Parent Borrower nor any of its Subsidiaries is in default under or with
      respect to any of its Contractual Obligations in any respect which would
      reasonably be expected to have a Material Adverse Effect. No Default or Event
      of
      Default has occurred and is continuing.

     

    SECTION
      4.8   Ownership
      of Property; Liens.
      Each of
      the Parent Borrower and its Subsidiaries has title in fee simple to, or a valid
      leasehold interest in, all its real property, and sufficient 

     

    
      
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    title
      to
      enjoy the benefits of, or a valid leasehold interest in, all its other Property,
      and none of such Property is subject to any Lien except as permitted by Section
      7.3.

     

    SECTION
      4.9   Intellectual
      Property.
      Except
      as set forth on Schedule 4.9, (a) the Parent Borrower and each of its
      Subsidiaries owns, or is licensed to use or otherwise possess a legally
      enforceable right to use, all Intellectual Property necessary for the conduct
      of
      its business as currently conducted; (b) no material claim has been asserted
      and
      is pending by any Person challenging or questioning the use of any material
      constituent of the Intellectual Property or the validity or effectiveness of
      any
      material constituent of the Intellectual Property, nor does the Parent Borrower
      know of any valid basis for any such claim; and (c) to the Parent Borrower’s
      knowledge, the use of Intellectual Property by the Parent Borrower and its
      Subsidiaries does not infringe on the valid rights of any Person in any material
      respect.

     

    SECTION
      4.10   Taxes.
      Each of
      the Parent Borrower and each of its Subsidiaries has filed or caused to be
      filed
      all Federal, state and other material tax returns which are required to be
      filed
      and has paid all taxes shown to be due and payable on said returns or on any
      assessments made against it or any of its Property and all other taxes, fees
      or
      other charges imposed on it or any of its Property by any Governmental Authority
      (other than any the amount or validity of which are currently being contested
      in
      good faith by appropriate procedures and with respect to which reserves in
      conformity with GAAP have been provided on the books of the Parent Borrower
      or
      its Subsidiaries, as the case may be); no tax Lien has been filed, and, to
      the
      knowledge of the Parent Borrower, no material claim is being asserted, with
      respect to any such tax, fee or other charge.

     

    SECTION
      4.11   Federal
      Regulations.
      No part
      of the proceeds of any Loans, and no other extensions of credit hereunder,
      will
      be used for “buying” or “carrying” any “margin stock” within the respective
      meanings of each of the quoted terms under Regulation U as now and from time
      to
      time hereafter in effect without prior written notice to the Administrative
      Agent or for any purpose which violates the provisions of the Regulations of
      the
      Board. If requested by any Lender or the Administrative Agent, the Parent
      Borrower will furnish to the Administrative Agent and each Lender a statement
      to
      the foregoing effect in conformity with the requirements of FR Form G-3 or
      FR
      Form U-1, as applicable, referred to in Regulation U.

     

    SECTION
      4.12   Labor
      Matters.
      There
      are no strikes or other labor disputes against the Parent Borrower or any of
      its
      Subsidiaries pending or, to the knowledge of the Parent Borrower, threatened
      that (individually or in the aggregate) would reasonably be expected to have
      a
      Material Adverse Effect. Hours worked by and payment made to employees of the
      Parent Borrower and its Subsidiaries have not been in violation of the Fair
      Labor Standards Act or any other applicable Requirement of Law dealing with
      such
      matters that (individually or in the aggregate) would reasonably be expected
      to
      have a Material Adverse Effect. All payments due from the Parent Borrower or
      any
      of its Subsidiaries on account of employee health and welfare insurance that
      (individually or in the aggregate) would reasonably be expected to have a
      Material Adverse Effect if not paid have been paid or accrued as a liability
      on
      the books of the Parent Borrower or the relevant Subsidiary.

     

    SECTION
      4.13   ERISA.
      Neither
      a Reportable Event nor an “accumulated funding deficiency” (within the meaning
      of Section 412 of the Code or Section 302 of ERISA) has occurred during the
      five-year period prior to the date on which this representation is made or
      deemed made with respect to any Plan, and each Plan has complied in all material
      respects with the applicable provisions of ERISA and the Code. No termination
      of
      a Single Employer Plan has occurred, and no Lien in favor of the PBGC or a
      Plan
      has arisen, during such five-year period. The present value of all accrued
      benefits under each Single Employer Plan (based on those assumptions used to
      fund such Plans) did not, as of the last annual valuation date prior to the
      date
      on which this representation is made or deemed made, exceed 

    
      
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    the
      value
      of the assets of such Plan allocable to such accrued benefits by a material
      amount. Neither the Parent Borrower nor any Commonly Controlled Entity has
      had a
      complete or partial withdrawal from any Multiemployer Plan which has resulted
      or
      would reasonably be expected to result in a material liability under ERISA,
      and
      neither the Parent Borrower nor any Commonly Controlled Entity would become
      subject to any material liability under ERISA if the Parent Borrower or any
      such
      Commonly Controlled Entity were to withdraw completely from all Multiemployer
      Plans as of the valuation date most closely preceding the date on which this
      representation is made or deemed made. No such Multiemployer Plan is in
      Reorganization or Insolvent.

     

    SECTION
      4.14   Investment
      Company Act; Other Regulations.
      No Loan
      Party is an “investment company”, or a company “controlled” by an “investment
      company”, within the meaning of the Investment Company Act of 1940, as amended.
      No Loan Party is subject to regulation under any Requirement of Law (other
      than
      Regulation X of the Board) which limits its ability to incur
      Indebtedness.

     

    SECTION
      4.15   Subsidiaries.
      (a)   Schedule 4.15 sets forth as of the Closing Date the name and
      jurisdiction of incorporation of each Subsidiary and, as to each such
      Subsidiary, the percentage of each class of Capital Stock owned by any Loan
      Party.

     

    (b)  
      There are no outstanding subscriptions, options, warrants, calls, rights or
      other agreements or commitments (other than stock options granted to employees,
      consultants, officers or directors and directors’ qualifying shares) of any
      nature relating to the issuance of any Capital Stock of the Parent Borrower
      or
      any Subsidiary, except under the Loan Documents.

     

    SECTION
      4.16   Use
      of Proceeds.
      The
      proceeds of the Tranche B Term Loans and the Revolving Credit Loans shall be
      used for the general corporate purposes, including for acquisitions not
      prohibited by this Agreement, of the Parent Borrower and its Subsidiaries,
      and
      to repay Loans outstanding under the Previous Credit Agreement. The proceeds
      of
      any Incremental Term Loans, Letters of Credit and Swingline Loans shall be
      used
      for the general corporate purposes, including for acquisitions not prohibited
      by
      this Agreement, of the Parent Borrower and its Subsidiaries.

     

    SECTION
      4.17   Environmental
      Matters.
      Except
      as individually or in the aggregate could not reasonably be expected to result
      in a Material Adverse Effect:

     

    (a) The
      facilities and properties owned, leased or operated by the Parent Borrower
      or
      any of its Subsidiaries (the “Properties”)
      do not
      contain, and have not previously contained, any Materials of Environmental
      Concern in amounts or concentrations or under circumstances which (i) constitute
      or constituted a violation of, or (ii) would reasonably be expected to have
      given rise to a release or a threat of release, as regulated or defined, under
      any Environmental Law.

     

    (b) The
      Properties and all operations at the Properties are in material compliance,
      and
      have in the last five years been in material compliance, with all applicable
      Environmental Laws, and there is no contamination at, under or about the
      Properties or violation of any Environmental Law with respect to the Properties
      or the business operated by the Parent Borrower or any of its Subsidiaries
      (the
“Business”).
      Neither the Parent Borrower nor any of its Subsidiaries has contractually
      assumed any liability of any other Person under Environmental Laws other than
      in
      the ordinary course of business.

     

    (c) Neither
      the Parent Borrower nor any of its Subsidiaries has received or is aware of
      any
      notice of violation, alleged violation, non-compliance, liability or potential
      liability, judicial proceeding or governmental or administrative action or
      consent decrees or other decrees, consent orders, administrative orders or
      other
      orders, regarding environmental matters or compliance with 

     

    
      
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    Environmental
      Laws with regard to any of the Properties or the Business, nor does the Parent
      Borrower have knowledge or reason to believe that any such notice will be
      received or is being threatened.

     

    (d) Materials
      of Environmental Concern have not been transported or disposed of from the
      Properties in violation of, or in a manner or to a location which would
      reasonably be expected to give rise to liability under, any Environmental Law,
      nor have any Materials of Environmental Concern been generated, treated, stored
      or disposed of at, on or under any of the Properties in violation of, or in
      a
      manner that would reasonably be expected to give rise to liability under, any
      applicable Environmental Law.

     

    (e) There
      has
      been no release or threat of release of Materials of Environmental Concern
      at or
      from the properties previously owned or operated by the Parent Borrower or
      any
      Subsidiary (the “Former
      Properties”)
      during
      such period of ownership or operation, or arising from or related to the
      operations of the Parent Borrower or any Subsidiary in connection with the
      Former Properties or otherwise in connection with the Business, in violation
      of
      or in amounts or in a manner that would reasonably be expected to give rise
      to
      liability under Environmental Laws.

     

    SECTION
      4.18   Accuracy
      of Information, etc.
      No
      statement or information contained in this Agreement, any other Loan Document,
      the Confidential Information Memorandum or any other document, certificate
      or
      statement furnished to the Administrative Agent or the Lenders or any of them,
      by or on behalf of any Loan Party for use in connection with the transactions
      contemplated by this Agreement or the other Loan Documents, contained as of
      the
      date such statement, information, document or certificate was so furnished
      (or,
      in the case of the Confidential Information Memorandum, as of the Closing Date),
      any untrue statement of a material fact or omitted to state a material fact
      necessary in order to make the statements contained herein or therein not
      misleading. The projections and pro forma
      financial
      information contained in the materials referenced above are based upon good
      faith estimates and assumptions believed by management of the Parent Borrower
      to
      be reasonable at the time made, it being recognized by the Lenders that such
      financial information as it relates to future events is not to be viewed as
      fact
      and that actual results during the period or periods covered by such financial
      information may differ from the projected results set forth therein by a
      material amount. There is no fact known to any Loan Party that would reasonably
      be expected to have a Material Adverse Effect that has not been expressly
      disclosed herein, in the other Loan Documents, in the Confidential Information
      Memorandum or in any other documents, certificates and statements furnished
      to
      the Administrative Agent and the Lenders for use in connection with the
      transactions contemplated hereby and by the other Loan Documents.

     

    SECTION
      4.19   Security
      Documents.
      The
      Guarantee and Collateral Agreement is effective to create in favor of the
      Administrative Agent, for the benefit of the Lenders, a legal, valid and
      enforceable security interest in the Collateral described therein and proceeds
      thereof. In the case of the Pledged Stock described in the Guarantee and
      Collateral Agreement, when stock certificates representing such Pledged Stock
      are delivered to the Administrative Agent, and in the case of the other
      Collateral described in the Guarantee and Collateral Agreement, when financing
      statements in appropriate form are filed in the offices specified on
      Schedule 4.19 and such other filings as are specified on Schedule 3 to the
      Guarantee and Collateral Agreement, the Guarantee and Collateral Agreement
      shall
      constitute a fully perfected Lien on, and security interest in, all right,
      title
      and interest of the Loan Parties in such Collateral and the proceeds thereof,
      as
      security for the Obligations (as defined in the Guarantee and Collateral
      Agreement), in each case prior and superior in right to any other Person
      (except, in the case of Collateral other than Pledged Stock, Liens permitted
      by
      Section 7.3).

     

    
      
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    SECTION
      4.20   Solvency.
      Each
      Loan Party is, and after giving effect to the incurrence of all Indebtedness
      and
      obligations being incurred in connection herewith will be and will continue
      to
      be, Solvent.

     

    ARTICLE
      V. CONDITIONS
      PRECEDENT

     

    SECTION
      5.1   Conditions
      to the Effectiveness of this Agreement.
      The
      amendment and restatement of the Previous Credit Agreement effected hereby
      and
      the agreement of each Lender to make the extensions of credit requested to
      be
      made by it is subject to the satisfaction, prior to or concurrently with the
      making of such extension of credit on the Closing Date, of the following
      conditions precedent:

     

    (a) Credit
      Agreement.
      The
      Administrative Agent shall have received this Agreement executed and delivered
      by the Administrative Agent, the Parent Borrower and each Lender. 

     

    (b) Fees.
      The
      Lenders and the Administrative Agent shall have received all fees required
      to be
      paid on or before the Closing Date, and all expenses required to be paid on
      or
      before the Closing Date for which invoices have been timely presented,
      including, without limitation, the reasonable fees and expenses of legal
      counsel, on or before the Closing Date. 

     

    (c) Security
      Documents.
      The
      Administrative Agent shall have received the Second Amendment to Guarantee
      and
      Collateral Agreement, which shall include a guarantee by the Parent Borrower
      of
      the Obligations of any Foreign Subsidiary Borrowers, executed and delivered
      by
      an authorized officer of the Parent Borrower and each other Loan
      Party.

     

    (d) Lien
      Searches.
      The
      Administrative Agent shall have received the results of a recent lien search
      in
      each of the jurisdictions where assets of the Parent Borrower and its
      Subsidiaries are located, and such search shall reveal no liens on any of the
      assets of the Parent Borrower or any Subsidiary except for liens permitted
      by
      Section 7.3 or discharged on or prior to the Closing Date pursuant to
      documentation satisfactory to the Administrative Agent.

     

    (e) Closing
      Certificate.
      The
      Administrative Agent shall have received a certificate of each Loan Party,
      dated
      the Closing Date, substantially in the form of Exhibit C, with appropriate
      insertions and attachments.

     

    (f) Legal
      Opinions.
      The
      Administrative Agent shall have received the following executed legal
      opinions:

     

    (i)  the
      legal opinion of Sullivan & Cromwell LLP, counsel to the Parent Borrower and
      its Subsidiaries, substantially in the form of Exhibit E-1; and

     

    (ii)  the
      legal opinion of Daniel S. Jonas, general counsel of the Parent Borrower and
      its
      Subsidiaries, substantially in the form of Exhibit E-2.

     

    SECTION
      5.2   Conditions
      to Each Extension of Credit.
      The
      agreement of each Lender to make any extension of credit requested to be made
      by
      it on any date (including, without limitation, the Incremental Term Loans)
      is
      subject to the satisfaction of the following conditions precedent:

     

    (a) Representations
      and Warranties.
      Each of
      the representations and warranties made by any Loan Party in or pursuant to
      the
      Loan Documents shall be true and correct on and as of such date as if made
      on
      and as of such date.

     

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

     

    Each
      borrowing by and issuance of a Letter of Credit on behalf of any Borrower
      hereunder shall constitute a representation and warranty by such Borrower as
      of
      the date of such extension of credit that the conditions contained in this
      Section 5.2 have been satisfied.

     

    SECTION
      5.3   Conditions
      to Initial Loan to Each Foreign Subsidiary
      Borrower.
      The
      agreement of each Revolving Credit Lender to make any Loans or issue any Letters
      of Credit to any Foreign Subsidiary Borrower that was not a party to this
      Agreement as of the Closing Date is subject to the satisfaction of the following
      conditions precedent:

     

    (a)  
      Joinder
      Agreement.
      The
      Administrative Agent shall have received a Foreign Subsidiary Borrower Joinder
      Agreement, substantially in the form of Exhibit I, executed and delivered by
      such Foreign Subsidiary Borrower and the Parent Borrower. 

     

    (b)  
      Opinion.
      The
      Administrative Agent shall have received an opinion of counsel for such Foreign
      Subsidiary Borrower reasonably acceptable to the Administrative Agent, covering
      such matters relating to the transactions contemplated hereby as the
      Administrative Agent may reasonably request.

     

    (c)  
      Other
      Documents.
      The
      Administrative Agent shall have received such documents and certificates as
      the
      Administrative Agent or its counsel may reasonably request relating to the
      organization, existence and good standing of such Foreign Subsidiary Borrower,
      the authorization of the transactions contemplated hereby relating to such
      Foreign Subsidiary Borrower and any other legal matters relating to such Foreign
      Subsidiary Borrower, all in form and substance reasonably satisfactory to the
      Administrative Agent.

     

    (d)
      Additional
      Representations and Warranties.
      Unless
      otherwise agreed by the Administrative Agent, the following representations
      and
      warranties shall be true and correct on and as of such date:

    

    (i)
      Pari
      Passu.
      Subject
      to applicable Requirements of Law, the obligations of such Foreign Subsidiary
      Borrower under this Agreement, when executed and delivered by such Foreign
      Subsidiary Borrower, will rank at least pari passu with all unsecured
      Indebtedness of such Foreign Subsidiary Borrower.

    

    (ii)
      No
      Immunities, etc.
      Such
      Foreign Subsidiary Borrower is subject to civil and commercial law with respect
      to its obligations under this Agreement and any Note, and the execution,
      delivery and performance by such Foreign Subsidiary Borrower of this Agreement
      constitute and will constitute private and commercial acts and not public or
      governmental acts. Neither such Foreign Subsidiary Borrower nor any of its
      property, whether or not held for its own account, has any immunity (sovereign
      or other similar immunity) from any suit or proceeding, from jurisdiction of
      any
      court or from set-off or any legal process (whether service or notice,
      attachment prior to judgment, attachment in aid of execution of judgment,
      execution of judgment or other similar immunity) under laws of the jurisdiction
      in which such Foreign Subsidiary Borrower is organized and existing in respect
      of its obligations under this Agreement or any Note. Such Foreign Subsidiary
      Borrower has waived, and hereby does waive, every immunity (sovereign or
      otherwise) to which it or any of its properties would otherwise be entitled
      from
      any legal action, suit or proceeding, from jurisdiction of any court and from
      set-off or any legal process (whether service or notice, attachment prior to
      judgment, attachment in aid of execution of judgment,

    
      
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    execution
      of judgment or otherwise) under the laws of the jurisdiction in which such
      Foreign Subsidiary Borrower is organized and existing in respect of its
      obligations under this Agreement and any Note. The waiver by such Foreign
      Subsidiary Borrower described in the immediately preceding sentence is the
      legal, valid and binding obligation of such Foreign Subsidiary Borrower, subject
      to customary qualifications and limitations.

    

    (iii)
      No
      Recordation Necessary.
      This
      Agreement and each Note, if any, is in proper legal form under the law of the
      jurisdiction in which such Foreign Subsidiary Borrower is organized and existing
      for the enforcement hereof or thereof against such Foreign Subsidiary Borrower
      under the law of such jurisdiction, and to ensure the legality, validity,
      enforceability or admissibility in evidence of this Agreement and any such
      Note.
      It is not necessary to ensure the legality, validity, enforceability or
      admissibility in evidence of this Agreement and any such Note that this
      Agreement, any Note or any other document be filed, registered or recorded
      with,
      or executed or notarized before, any court or other authority in the
      jurisdiction in which such Foreign Subsidiary Borrower is organized and existing
      or that any registration charge or stamp or similar tax be paid on or in respect
      of this Agreement, any Note or any other document, except for any such filing,
      registration or recording, or execution or notarization, as has been made or
      is
      not required to be made until this Agreement, any Note or any other document
      is
      sought to be enforced and for any charge or tax as has been timely
      paid.

    

    (iv)
      Exchange
      Controls.
      The
      execution, delivery and performance by such Foreign Subsidiary Borrower of
      this
      Agreement, any Note or the other Loan Documents is, under applicable foreign
      exchange control regulations of the jurisdiction in which such Foreign
      Subsidiary Borrower is organized and existing, not subject to any notification
      or authorization except (i) such as have been made or obtained or (ii) such
      as
      cannot be made or obtained until a later date (provided any notification or
      authorization described in immediately preceding clause (ii) shall be made
      or
      obtained as soon as is reasonably practicable). 

     

    ARTICLE
      VI. AFFIRMATIVE
      COVENANTS

     

    The
      Parent Borrower hereby agrees that, so long as the Commitments remain in effect,
      any Letter of Credit remains outstanding or any Loan or other amount is owing
      to
      any Lender or the Administrative Agent hereunder, the Parent Borrower shall
      and
      shall cause each of its Subsidiaries to:

     

    SECTION
      6.1   Financial
      Statements.
      Furnish
      to the Administrative Agent and each Lender:

     

    (a) as
      soon
      as available, but in any event within 90 days after the end of each fiscal
      year of the Parent Borrower, a copy of the audited consolidated balance sheet
      of
      the Parent Borrower and its Subsidiaries as at the end of such year and the
      related audited consolidated statements of income and of cash flows for such
      year, setting forth in each case in comparative form the figures for the
      previous year, reported on without a “going concern” or like qualification or
      exception, or qualification arising out of the scope of the audit, by
      PricewaterhouseCoopers LLP or other independent certified public accountants
      of
      nationally recognized standing; and

     

    (b) as
      soon
      as available, but in any event not later than 45 days after the end of each
      of
      the first three quarterly periods of each fiscal year of the Parent Borrower,
      the unaudited consolidated balance sheet of the Parent Borrower and its
      Subsidiaries as at the end of such quarter and the related unaudited
      consolidated statements of income and of cash flows for such quarter and the
      portion of the fiscal year through the end of such quarter, setting forth in
      each case in comparative form the figures for the previous year, certified
      by a
      Responsible Officer as being fairly stated in all material respects (subject
      to
      normal year-end audit adjustments);

     

    
      
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    all
      such
      financial statements shall be complete and correct in all material respects
      and
      shall be prepared in reasonable detail and in accordance with GAAP applied
      consistently throughout the periods reflected therein and with prior periods
      (except as approved by such accountants or officer, as the case may be, and
      disclosed therein, and provided
      that the
      financial statements referred to in Section 6.1(b) need not contain
      footnotes).

     

    SECTION
      6.2   Certificates;
      Other Information.
      Furnish
      to the Administrative Agent and each Lender, or, in the case of clause (g),
      to
      the Administrative Agent for the relevant Lender:

     

    (a) concurrently
      with the delivery of the financial statements referred to in Section 6.1(a),
      a
      certificate of the independent certified public accountants reporting on such
      financial statements stating that in making the examination necessary therefor
      no knowledge was obtained of any Default or Event of Default, except as
      specified in such certificate;

     

    (b) concurrently
      with the delivery of any financial statements pursuant to Section 6.1, (i)
      a
      certificate of a Responsible Officer stating that, to the best of each such
      Responsible Officer’s knowledge, each Loan Party during such period has observed
      or performed all of its covenants and other agreements, and satisfied every
      condition, contained in this Agreement and the other Loan Documents to which
      it
      is a party to be observed, performed or satisfied by it, and that such
      Responsible Officer has obtained no knowledge of any Default or Event of Default
      except as specified in such certificate and (ii) in the case of quarterly or
      annual financial statements, (x) a Compliance Certificate containing all
      information and calculations necessary for determining compliance by the Parent
      Borrower and its Subsidiaries with the provisions of this Agreement referred
      to
      therein as of the last day of the fiscal quarter or fiscal year of the Parent
      Borrower, as the case may be, (y) to the extent not previously disclosed to
      the
      Administrative Agent, a listing of any county or state within the United States
      where any Loan Party keeps inventory or equipment and of any Intellectual
      Property acquired by any Loan Party since the date of the most recent list
      delivered pursuant to this clause (y) (or, in the case of the first such list
      so
      delivered, since the Closing Date) and (z) any change of jurisdiction of
      organization of any Loan Party;

     

    (c) as
      soon
      as available, and in any event no later than 45 days after the end of each
      fiscal year of the Parent Borrower, a detailed consolidated budget for the
      following fiscal year (including a projected consolidated balance sheet of
      the
      Parent Borrower and its Subsidiaries as of the end of the following fiscal
      year,
      and the related consolidated statements of projected cash flow, projected
      changes in financial position and projected income), and, as soon as available,
      significant revisions, if any, of such budget and projections with respect
      to
      such fiscal year (collectively, the “Projections”),
      which
      Projections shall in each case be accompanied by a certificate of a Responsible
      Officer stating that such Projections are based on reasonable estimates,
      information and assumptions and that such Responsible Officer has no reason
      to
      believe that such Projections are incorrect or misleading in any material
      respect;

     

    (d) within
      45
      days (and 90 days in the case of the end of a fiscal year) after the end of
      each
      fiscal quarter of the Parent Borrower, either (i) a Form 10-Q or 10-K for the
      Parent Borrower and its Subsidiaries for such fiscal quarter, which contains
      a
      narrative discussion and analysis of the financial condition and results of
      operations of the Parent Borrower and its Subsidiaries for such fiscal quarter,
      or (ii) such narrative discussion and analysis;

     

    (e) (i)
      within five days after the same are sent, copies of all financial statements
      and
      reports which the Parent Borrower sends to the holders of any class of its
      debt
      securities or public equity securities and (ii) within five days after the
      same
      are filed, copies of all financial statements and periodic reports which the
      Parent Borrower may make to, or file with, the SEC,

     

    
      
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    provided
      that the
      Parent Borrower shall be deemed to have complied with this clause (f)(ii) if
      the
      Parent Borrower provides written notice (which may be in electronic form) of
      the
      making or filing of any such financial statements or reports and the same is
      continuously available on “EDGAR”, the Electronic Data Gathering Analysis and
      Retrieval system of the SEC, or “http://www.sec.gov/edgarhp.htm”;
      and

     

    (f) promptly,
      such additional financial and other information as any Lender may from time
      to
      time reasonably request through the Administrative Agent.

     

    SECTION
      6.3   Payment
      of Obligations.
      (a)  Pay, discharge or otherwise satisfy at or before maturity or
      before they become delinquent, as the case may be, all its material obligations
      of whatever nature, except where the amount or validity thereof is currently
      being contested in good faith by appropriate procedures or reserves in
      conformity with GAAP with respect thereto have been provided on the books of
      the
      Parent Borrower or its Subsidiaries, as the case may be.

     

    (b)  
      Each of the Loan Parties will pay and discharge or otherwise satisfy at or
      before maturity or before they become delinquent, as the case may be, all
      material taxes, assessments and governmental charges or levies imposed upon
      the
      Collateral or in respect of income or profits therefrom, as well as all claims
      of any kind (including, without limitation, claims for labor, materials and
      supplies) against or with respect to the Collateral, except that no such charge
      need be paid if the amount or validity thereof is currently being contested
      in
      good faith by appropriate procedures or reserves in conformity with GAAP with
      respect thereto have been provided on the books of such Loan Party and such
      proceedings could not reasonably be expected to result in the sale, forfeiture
      or loss of any material portion of the Collateral or any interest
      therein.

     

    SECTION
      6.4   Conduct
      of Business and Maintenance of Existence,
      etc.
      (a) (i)
      Preserve, renew and keep in full force and effect its corporate existence and
      (ii) take all reasonable action to maintain all rights, privileges and
      franchises necessary or desirable in the normal conduct of its business, except,
      in each case, as otherwise permitted by Section 7.4 and except, in the case
      of
      clause (ii) above, to the extent that failure to do so could not reasonably
      be
      expected to have a Material Adverse Effect; and (b) comply with all Contractual
      Obligations and Requirements of Law except to the extent that failure to comply
      therewith could not, in the aggregate, reasonably be expected to have a Material
      Adverse Effect.

     

    SECTION
      6.5   Maintenance
      of Property; Insurance.
      (a)  Keep all Property useful and necessary in its business in good
      working order and condition, ordinary wear and tear excepted; (b)  
maintain with financially sound and reputable insurance companies insurance
      on
      all its Property in at least such amounts and against at least such risks (but
      including in any event public liability, product liability and business
      interruption) as are usually insured against in the same general area by
      companies engaged in the same or a similar business; (c) maintain, with
      financially sound and reputable companies, insurance policies (i) insuring
      the
      Inventory and Equipment against loss by fire, explosion, theft and such other
      casualties as may be reasonably satisfactory to the Administrative Agent and
      (ii) insuring such Loan Party against liability for personal injury and property
      damage relating to such Inventory and Equipment, such policies to be in such
      form and amounts and having such coverage as may be reasonably satisfactory
      to
      the Administrative Agent and the Lenders (all such insurance shall (A) provide
      that no cancellation, material reduction in amount or material change in
      coverage thereof shall be effective until at least 30 days after receipt by
      the
      Administrative Agent of written notice thereof, (B) name the Administrative
      Agent as loss payee, and (C) be reasonably satisfactory in all other respects
      to
      the Administrative Agent); and (d) the Parent Borrower shall deliver to the
      Administrative Agent and the Lenders a report of a reputable insurance broker
      with respect to such insurance during the month of November in each calendar
      

     

    
      
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    year
      and
      such supplemental reports with respect thereto as the Administrative Agent
      may
      from time to time reasonably request.

     

    SECTION
      6.6   Inspection
      of Property; Books and Records;
      Discussions.
      (a)
      Keep proper books of records and account in which full, true and correct entries
      in conformity with GAAP and all Requirements of Law shall be made of all
      dealings and transactions in relation to its business and activities and (b)
      permit representatives of any Lender to visit and inspect any of its properties
      and examine and make abstracts from any of its books and records at any
      reasonable time and as often as may reasonably be desired and to discuss the
      business, operations, properties and financial and other condition of the Parent
      Borrower and its Subsidiaries with officers and employees of the Parent Borrower
      and its Subsidiaries and with its independent certified public
      accountants.

     

    SECTION
      6.7   Notices.
      Promptly give notice to the Administrative Agent and each Lender
      of:

     

    (a) the
      occurrence of any Default or Event of Default;

     

    (b) any
      (i)
      default or event of default under any material Contractual Obligation of the
      Parent Borrower or any of its Subsidiaries or (ii) litigation, investigation
      or
      proceeding which may exist at any time between the Parent Borrower or any of
      its
      Subsidiaries and any Governmental Authority, which in either case, if not cured
      or if adversely determined, as the case may be, would reasonably be expected
      to
      have a Material Adverse Effect;

     

    (c) any
      litigation or proceeding directly affecting the Parent Borrower or any of its
      Subsidiaries in which the amount sought from the Parent Borrower and its
      Subsidiaries is $5,000,000 or more and not covered by insurance or in which
      injunctive or similar relief material to the operations of the Parent Borrower
      is sought as to which the Parent Borrower or any of its Subsidiaries has
      knowledge or reasonably should have knowledge;

     

    (d) the
      following events, as soon as possible and in any event within 30 days after
      the
      Parent Borrower knows or has reason to know thereof: (i) the occurrence of
      any
      Reportable Event with respect to any Plan, a failure to make any required
      contribution to a Plan, the creation of any Lien in favor of the PBGC or a
      Plan
      or any withdrawal from, or the termination, Reorganization or Insolvency of,
      any
      Multiemployer Plan or (ii) the institution of proceedings or the taking of
      any
      other action by the PBGC or the Parent Borrower or any Commonly Controlled
      Entity or any Multiemployer Plan with respect to the withdrawal from, or the
      termination, Reorganization or Insolvency of, any Plan; and

     

    (e) any
      development or event which has had or would reasonably be expected to have
      a
      Material Adverse Effect.

     

    Each
      notice pursuant to this Section 6.7 shall be accompanied by a statement of
      a
      Responsible Officer setting forth details of the occurrence referred to therein
      and stating what action the Parent Borrower or the relevant Subsidiary proposes
      to take with respect thereto.

     

    SECTION
      6.8   Environmental
      Laws.
      (a)  Comply with, and make all reasonable efforts to ensure compliance
      by all tenants and subtenants, if any, with, all applicable Environmental Laws,
      and obtain and comply with and maintain, and make all reasonable efforts to
      ensure that all tenants and subtenants obtain and comply with and maintain,
      any
      and all licenses, approvals, notifications, registrations or permits required
      by
      applicable Environmental Laws, except to the extent that any noncompliance
      could
      not, individually or in the aggregate, reasonably be expected to have a Material
      Adverse Effect.

     

     

    
      
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    (b)  
      Conduct and complete all investigations, studies, sampling and testing, and
      all
      remedial, removal and other actions required under Environmental Laws and
      promptly comply with all lawful orders and directives of all Governmental
      Authorities regarding Environmental Laws, except to the extent
      that any noncompliance could not, individually or in the aggregate, reasonably
      be expected to have a Material Adverse Effect.

     

    SECTION
      6.9   Additional
      Collateral, etc.
      (a)  With respect to any Property acquired after the Closing Date by
      the Parent Borrower or any of its Material Domestic Subsidiaries (other than
      (x)
      any Property described in paragraph (b), (c) or (d) below and (y) any Property
      subject to a Lien expressly permitted by Section 7.3(g), (l) (if such Lien
      was
      granted in a transaction comparable to that permitted by Section 7.3(g)) or
      (o))
      as to which the Administrative Agent, for the benefit of the Lenders, does
      not
      have a perfected Lien, promptly (i) execute and deliver to the Administrative
      Agent such amendments to the Guarantee and Collateral Agreement or such other
      documents as the Administrative Agent deems necessary or advisable in order
      to
      grant to the Administrative Agent, for the benefit of the Lenders, a security
      interest in such Property and (ii) take all actions necessary or reasonably
      advisable to grant to the Administrative Agent, for the benefit of the Lenders,
      a perfected first priority security interest in such Property, subject to no
      Liens except as permitted by Section 7.3, including without limitation, the
      filing of Uniform Commercial Code financing statements in such jurisdictions
      as
      may be required by the Guarantee and Collateral Agreement or by law or as may
      be
      requested by the Administrative Agent.

     

    (b)  
      With respect to any fee interest in any real property having a purchase price
      (together with improvements thereof) of at least $5,000,000 acquired after
      the
      Closing Date by the Parent Borrower or any of its Material Domestic Subsidiaries
      (other than any such real property subject to a Lien expressly permitted by
      Section 7.3(g)), promptly (i) execute and deliver a first priority mortgage
      in a
      form reasonably satisfactory to the Administrative Agent in favor of the
      Administrative Agent, for the benefit of the Lenders, covering such real
      property, subject to no Liens except as permitted by Section 7.3, (ii) if
      requested by the Administrative Agent, provide the Lenders with (x) title and
      extended coverage insurance covering such real property in an amount equal
      to
      the purchase price of such real estate as well as a current ALTA survey thereof,
      together with a surveyor’s certificate and (y) any consents or estoppels
      reasonably deemed necessary or advisable by the Administrative Agent in
      connection with such mortgage or deed of trust, each of the foregoing in form
      and substance reasonably satisfactory to the Administrative Agent and (iii)
      if
      requested by the Administrative Agent, deliver to the Administrative Agent
      a
      legal opinion relating to the enforceability of such mortgage which opinion
      shall be in form and substance and with customary exceptions and qualifications,
      and from counsel, reasonably satisfactory to the Administrative
      Agent.

     

    (c)  
      With respect to any new Subsidiary (other than any non-Material Domestic
      Subsidiary, non-Material Foreign Subsidiary and Excluded Foreign Subsidiary)
      created or acquired after the Closing Date by the Parent Borrower (which, for
      the purposes of this paragraph (c), shall include any existing Subsidiary that
      becomes a Material Domestic Subsidiary or that ceases to be an Excluded Foreign
      Subsidiary and is a Material Foreign Subsidiary) or any of its Subsidiaries,
      promptly (i) execute and deliver to the Administrative Agent such amendments
      to
      the Guarantee and Collateral Agreement as the Administrative Agent deems
      necessary or reasonably advisable in order to grant to the Administrative Agent,
      for the benefit of the Lenders, a perfected first priority security interest
      in
      the Capital Stock of such new Subsidiary which is owned by the Parent Borrower
      or any of its Subsidiaries, (ii) deliver to the Administrative Agent the
      certificates representing such Capital Stock, together with undated stock
      powers, in blank, executed and delivered by a duly authorized officer of the
      Parent Borrower or such Subsidiary, as the case may be, (iii) cause such new
      Subsidiary (A) to become a party to the Guarantee and Collateral Agreement
      and (B) to take such actions necessary or reasonably advisable to grant to
      the
      Administrative Agent for the benefit of the Lenders a perfected first priority
      security interest in the Collateral described in the Guarantee and Collateral
      Agreement with respect to such new Subsidiary, subject to no Liens except as
      permitted by Section 7.3, including, without limitation, the filing of Uniform
      Commercial Code financing statements in such jurisdictions as may be required
      by
      the Guarantee 

     

    
      
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    and
      Collateral Agreement or by law or as may be requested by the Administrative
      Agent, and (iv) if requested by the Administrative Agent, deliver to the
      Administrative Agent legal opinions relating to the matters described above,
      which opinions shall be in form and substance and with customary exceptions
      and
      qualifications, and from counsel, reasonably satisfactory to the Administrative
      Agent.

     

    (d)  
      With respect to any new Excluded Foreign Subsidiary which is a Material Foreign
      Subsidiary created or acquired after the Closing Date by the Parent Borrower
      or
      any of its Subsidiaries (which, for the purposes of this paragraph (d), shall
      include any existing Excluded Foreign Subsidiary that becomes a Material Foreign
      Subsidiary), promptly (i) execute and deliver to the Administrative Agent such
      amendments to the Guarantee and Collateral Agreement as the Administrative
      Agent
      deems necessary or reasonably advisable in order to grant to the Administrative
      Agent, for the benefit of the Lenders, a perfected first priority security
      interest in the Capital Stock of such new Subsidiary which is owned by the
      Parent Borrower or any of its Subsidiaries (provided
      that in
      no event shall more than 65% of the total outstanding Capital Stock of any
      such
      new Subsidiary be required to be so pledged), (ii) deliver to the Administrative
      Agent the certificates representing such Capital Stock, if such Capital Stock
      is
      certificated, together with undated stock powers, in blank, executed and
      delivered by a duly authorized officer of the Parent Borrower or such
      Subsidiary, as the case may be, and take such other action as may be necessary
      or, in the opinion of the Administrative Agent, desirable to perfect the Lien
      of
      the Administrative Agent thereon, and (iii) if requested by the Administrative
      Agent, deliver to the Administrative Agent legal opinions relating to the
      matters described above, which opinions shall be in form and substance and
      with
      customary exceptions and qualifications, and from counsel, reasonably
      satisfactory to the Administrative Agent.

     

    SECTION
      6.10   Additional
      Covenants Relating to Collateral.
      (a)  If any amount in excess of $2,500,000 payable under or in
      connection with any of the Collateral shall be or become evidenced by any
      Instrument or Chattel Paper, deliver such Instrument or Chattel Paper
      immediately to the Administrative Agent, duly indorsed in a manner satisfactory
      to the Administrative Agent, to be held as Collateral pursuant to the Guarantee
      and Collateral Agreement.

     

    (b)  
      Not, except upon 15 days’ prior written notice to the Administrative Agent and
      delivery to the Administrative Agent of (A) all additional executed financing
      statements and other documents reasonably requested by the Administrative Agent
      to maintain the validity, perfection and priority of the security interests
      provided for in the Guarantee and Collateral Agreement, and (B) if applicable,
      a
      written supplement to Schedule 5 to the Guarantee and Collateral Agreement
      showing any additional location at which Inventory or Equipment shall be
      kept:

     

    (i) permit
      any of the Inventory or Equipment to be kept at a location other than those
      listed on Schedule 5 to the Guarantee and Collateral Agreement (other than
      mobile goods and Inventory and Equipment located temporarily in a UCC financing
      statement filing jurisdiction the aggregate fair market value of which is less
      than $2,500,000); 

     

    (ii) change
      the location of its chief executive office or sole place of business from that
      referred to in Section 4.4 of the Guarantee and Collateral Agreement;
      or

     

    

      
        
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    (iii) change
      its name, identity or corporate structure to such an extent that any financing
      statement filed by the Administrative Agent in connection with the Guarantee and
      Collateral Agreement would become misleading.

     

    (c)  
      Advise the Administrative Agent and the Lenders promptly, in reasonable detail,
      of:

     

    (i) any
      Lien
      (other than security interests created hereby or Liens permitted under Section
      7.3) on any material portion of the Collateral which would adversely affect
      the
      ability of the Administrative Agent to exercise any of its remedies hereunder
      in
      any material respect; and

     

    (ii) the
      occurrence of any other event which would reasonably be expected to have a
      material adverse effect on the aggregate value of the Collateral or on the
      security interests created hereby.

     

    SECTION
      6.11   Interest
      Rate Protection.
      In the case of the Parent Borrower, at such time and from time to time as
      reasonably requested by the Administrative Agent upon not less than 90 days’
prior written notice to the Parent Borrower, enter into Swap Agreements with
      respect to floating rate obligations in respect of an aggregate principal amount
      of not more than 50% of the Term Loans, and at such market rates and on terms
      and conditions, reasonably satisfactory to the Administrative
      Agent.

     

    ARTICLE
      VII. NEGATIVE
      COVENANTS

     

    The
      Borrower hereby agrees that, so long as the Commitments remain in effect, any
      Letter of Credit remains outstanding or any Loan or other amount is owing to
      any
      Lender or the Administrative Agent hereunder, the Parent Borrower shall not,
      and
      shall not permit any of its Subsidiaries to, directly or
      indirectly:

     

    SECTION
      7.1   Financial
      Condition Covenants.

     

    (a)  
      Consolidated
      Leverage Ratio.
      Permit
      the Consolidated Leverage Ratio as at the last day of any period of four
      consecutive fiscal quarters of the Parent Borrower ending with any fiscal
      quarter set forth below to exceed the ratio set forth below opposite such fiscal
      quarter:

     

    
      	
              Fiscal
                Quarter

            	
              Consolidated

              Leverage
                Ratio

            
	 	
               

            
	
              June
                30, 2006

            	
              4.50
                to 1.00

            
	
              September
                30, 2006

            	
              4.50
                to 1.00

            
	
              December
                31, 2006

            	
              4.00
                to 1.00

            
	
              March
                31, 2007

            	
              4.00
                to 1.00

            
	
              June
                30, 2007

            	
              3.75
                to 1.00

            
	
              September
                30, 2007

            	
              3.75
                to 1.00

            
	
              December
                31, 2007

            	
              3.75
                to 1.00

            
	
              March
                31, 2008 and thereafter

            	
              3.50
                to 1.00

            

    

     

     

    
      
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    (b)  
      Consolidated
      Senior Debt Leverage Ratio.
      Permit
      the Consolidated Senior Debt Leverage Ratio as at the last day of any period
      of
      four consecutive fiscal quarters of the Parent Borrower to exceed 3.00 to
      1.00.

     

    (c)  
      Consolidated
      Fixed Charge Coverage Ratio.
      Permit
      the Consolidated Fixed Charge Coverage Ratio for any period of four consecutive
      fiscal quarters of the Parent Borrower ending with any fiscal quarter set forth
      below to be less than the ratio set forth below opposite such fiscal
      quarter:

     

    
      	
              Fiscal
                Quarter

            	
              Consolidated

              Fixed
                Charge

              Coverage
                Ratio

            
	 	 
	
              June
                30, 2006 to December 31, 2006

            	
              2.25
                to 1.00

            
	
              March
                31, 2007 and thereafter

            	
              2.50
                to 1.00

            

    

     

    SECTION
      7.2   Limitation
      on Indebtedness.
      Create,
      incur, assume or suffer to exist any Indebtedness, except:

     

    (a) Indebtedness
      of any Loan Party pursuant to any Loan Document;

     

    (b) Indebtedness
      of the Parent Borrower to any Subsidiary and of any Wholly-Owned Subsidiary
      Guarantor to the Parent Borrower or any other Subsidiary;

     

    (c) Indebtedness
      secured by Liens permitted by Section 7.3(g) in an aggregate principal amount
      not to exceed $15,000,000 at any one time outstanding;

     

    (d) Capital
      Lease Obligations in an aggregate principal amount not to exceed $10,000,000
      at
      any one time outstanding;

     

    (e) Indebtedness
      outstanding on the Closing Date and listed on Schedule 7.2(e) and any
      refinancings, refundings, renewals or extensions thereof (without any increase
      in the principal amount thereof);

     

    (f) guarantees
      made in the ordinary course of business by the Parent Borrower or any of its
      Subsidiaries of obligations of any Wholly-Owned Subsidiary
      Guarantor;

     

    (g) Indebtedness
      of the Parent Borrower or its Subsidiaries on account of industrial revenue
      bonds in an aggregate principal amount not to exceed $30,000,000 at any one
      time
      outstanding; 

     

    (h) guarantees
      made in the ordinary course of business by the Parent Borrower or any of its
      Subsidiaries of lease obligations of their customers in respect of equipment
      sold by the Parent Borrower or any of its Subsidiaries to a third party and
      then
      leased to such customer in an aggregate amount outstanding at any time not
      to
      exceed $20,000,000;

     

    (i) Indebtedness
      in respect of letters of credit (not otherwise permitted under this Section
      7.2)
      outstanding in the ordinary course of business in an aggregate face amount
      not
      to exceed $10,000,000; 

     

     

     

    
      
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    (j) Indebtedness
      of any Wholly-Owned Foreign Subsidiary to the Parent Borrower or any other
      Subsidiary (so long as no Default or Event of Default shall have occurred and
      be
      continuing at the time of the incurrence of such Indebtedness), provided
      that (x)
      the requirements of Section 6.9 are satisfied and (y) the aggregate principal
      amount of such Indebtedness at any time outstanding shall not exceed the greater
      of $40,000,000 or 10% of the Consolidated Total Tangible Assets (measured on
      the
      date of incurrence of the most recent of such Indebtedness) less
      the
      aggregate fair market value of any Property Disposed of to a Wholly-Owned
      Foreign Subsidiary pursuant to Section 7.5(e), and provided,
      further,
      that
      any Indebtedness permitted by this Section 7.2(j) shall be evidenced by a
      note or similar instrument and pledged in accordance with Section 6.9 and the
      Guarantee and Collateral Agreement;

     

    (k) additional
      Indebtedness of the Parent Borrower or any of its Subsidiaries in an aggregate
      principal amount (for the Parent Borrower and all Subsidiaries) not to exceed
      $20,000,000 at any one time outstanding;

     

    (l) Indebtedness
      incurred in connection with or in substitution or replacement of a Receivables
      Transfer Program in an aggregate principal amount not to exceed $100,000,000;
      and

     

    (m) Permitted
      Subordinated Indebtedness, provided
      that the
      Parent Borrower and its Subsidiaries are in compliance with the financial
      covenants contained in Section 7.1, computed on a pro forma
      basis as
      at the last day of the most recently ended fiscal quarter of the Parent Borrower
      for which financial statements are available.

     

    SECTION
      7.3   Limitation
      on Liens.
      Create,
      incur, assume or suffer to exist any Lien upon any of its Property or revenues,
      whether now owned or hereafter acquired, except for:

     

    (a) Liens
      for
      taxes, assessments or charges not yet due or which are being contested in good
      faith by appropriate proceedings, provided
      that
      adequate reserves with respect thereto are maintained on the books of the Parent
      Borrower or its Subsidiaries, as the case may be, in conformity with
      GAAP;

     

    (b) carriers’,
      warehousemen’s, mechanics’, materialmen’s, repairmen’s, supplier’s or other like
      Liens arising in the ordinary course of business which are not overdue for
      a
      period of more than 30 days or which are being contested in good faith by
      appropriate proceedings and Liens securing judgments to the extent not
      constituting an Event of Default pursuant to Section 8(h);

     

    (c) pledges
      or deposits in connection with workers’ compensation, unemployment insurance and
      other social security legislation;

     

    (d) deposits
      to secure the performance of bids, trade contracts (other than for borrowed
      money), leases, statutory obligations, surety and appeal bonds, performance
      bonds and other obligations of a like nature incurred in the ordinary course
      of
      business;

     

    (e) easements,
      rights-of-way, restrictions and other similar encumbrances incurred in the
      ordinary course of business which, in the aggregate, are not substantial in
      amount and which do not in any case materially detract from the value of the
      Property subject thereto or materially interfere with the ordinary conduct
      of
      the business of the Parent Borrower or any of its Subsidiaries;

    

      
        
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    (f) Liens
      in
      existence on the Closing Date listed on Schedule 7.3(f) (and any replacements
      or
      extensions thereof), securing Indebtedness permitted by Section 7.2(e),
provided
      that no
      such Lien is spread to cover any additional Property after the Closing Date
      and
      that the amount of Indebtedness secured thereby is not increased;

     

    (g) Liens
      upon real and/or tangible personal Property acquired after the Closing Date
      (by
      purchase, construction or otherwise) by the Parent Borrower or any of its
      Subsidiaries, each of which Liens either (i) existed on such Property before
      the
      time of its acquisition and was not created in anticipation thereof or (ii)
      was
      created solely for the purpose of securing Indebtedness representing,
      or incurred to finance, refinance or refund, the cost (including the cost of
      construction) of such Property and permitted by Section 7.2; provided
      that (A)
      no such Lien shall extend to or cover any Property of the Parent Borrower or
      such Subsidiary other than the Property so acquired or financed, and (B) the
      principal amount of Indebtedness secured by any such Lien shall at no time
      exceed 80% of the fair market value (as determined in good faith by a
      Responsible Officer of the Parent Borrower) of such Property at the time it
      was
      acquired (by purchase, construction or otherwise);

     

    (h) Liens
      created pursuant to the Security Documents;

     

    (i) any
      interest or title of a lessor under any lease entered into by the Parent
      Borrower or any other Subsidiary in the ordinary course of its business and
      covering only the assets so leased; 

     

    (j) Liens
      arising from precautionary UCC financing statement filings regarding operating
      leases or consignment arrangements entered into by the Parent Borrower or its
      Subsidiaries in the ordinary course of business;

     

    (k) Liens
      in
      favor of banking institutions encumbering the deposits (including the right
      of
      setoff) held by such banking institutions in the ordinary course of business
      and
      which are within the general parameters customary in the banking industry;
      

     

    (l) Liens
      on
      the property or assets of a corporation which becomes a Subsidiary after the
      Closing Date securing Indebtedness permitted by Section 7.2, provided
      that (i)
      such Liens existed at the time such corporation became a Subsidiary and were
      not
      created in anticipation thereof, (ii) any such Lien is not spread to cover
      any
      additional property or assets of such corporation after the time such
      corporation becomes a Subsidiary, and (iii) the amount of Indebtedness secured
      thereby is not increased; 

     

    (m) Liens
      not
      otherwise permitted by this Section 7.3 so long as neither (i) the aggregate
      outstanding principal amount of the obligations secured thereby nor (ii) the
      aggregate fair market value (determined as of the date such Lien is incurred)
      of
      the assets subject thereto exceeds (as to the Parent Borrower and all
      Subsidiaries) $10,000,000 at any one time;

     

    (n) Liens
      securing Indebtedness permitted by Section 7.2(e) on the real property of the
      Parent Borrower or its Subsidiaries in Largo, Florida; 

     

    (o) Liens
      on
      accounts receivable or related ancillary rights and assets sold, transferred,
      encumbered or otherwise disposed of, or purported to have been sold,
      transferred, encumbered or otherwise disposed of pursuant to a Receivables
      Transfer Program in accordance with Section 7.5(k); and

     

    
      
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    (p) Liens
      in
      the nature of escrow arrangements for deferred payments to be made in connection
      with a Permitted Business Acquisition to the extent such payments constitute
      amounts permitted under Section 7.8(k) and the rights of any beneficiary
      thereunder.

     

    SECTION
      7.4   Limitation
      on Fundamental Changes.
      Enter
      into any merger, consolidation or amalgamation, or liquidate, wind up or
      dissolve itself (or suffer any liquidation or dissolution), or Dispose of all
      or
      a substantial part of its Property or business except:

     

    (a) any
      Subsidiary of the Parent Borrower may be merged or consolidated with or into
      the
      Parent Borrower (provided
      that the
      Parent Borrower shall be the continuing or surviving corporation),
      any Wholly-Owned Subsidiary Guarantor (provided
      that the
      Wholly-Owned Subsidiary Guarantor shall be the continuing or surviving
      corporation) or an entity that will become a Wholly-Owned Subsidiary Guarantor
      following a Permitted Business Acquisition; 

     

    (b) any
      Subsidiary of the Parent Borrower may Dispose of any or all of its assets (upon
      voluntary liquidation or otherwise) to the Parent Borrower or any Wholly-Owned
      Subsidiary Guarantor;

     

    (c) any
      Foreign Subsidiary of the Parent Borrower may be merged or consolidated with
      or
      into any other Foreign Subsidiary (provided
      that if
      either such Subsidiary is a Wholly-Owned Foreign Subsidiary, such Wholly-Owned
      Foreign Subsidiary shall be the continuing or surviving
      corporation);

     

    (d) any
      Foreign Subsidiary of the Parent Borrower may dispose of any or all of its
      assets (upon voluntary liquidation or otherwise) to any Wholly-Owned Foreign
      Subsidiary of the Parent Borrower; and

     

    (e) to
      the
      extent permitted by Section 7.5.

     

    SECTION
      7.5   Limitation
      on Sale of Assets.
      Dispose
      of any of its Property or business (including, without limitation, receivables
      and leasehold interests), whether now owned or hereafter acquired, or, in the
      case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital
      Stock to any Person, except:

     

    (a)  
      the Disposition of obsolete or worn out property in the ordinary course of
      business;

     

    (b)  
      the sale or other Disposition of inventory in the ordinary course of
      business;

     

    (c)  
      Dispositions permitted by Section 7.4(b) and 7.4(d); 

     

    (d)  
      the sale or issuance of any Subsidiary’s Capital Stock to the Parent Borrower or
      any Wholly-Owned Subsidiary Guarantor; 

     

    (e)  
      so long as no Default or Event of Default shall have occurred and be continuing,
      Dispositions of Property from the Parent Borrower or any Subsidiary Guarantor
      to
      any Wholly-Owned Foreign Subsidiary, provided
      that (x)
      the requirements of Section 6.9 are satisfied and (y) the aggregate fair market
      value of such Property since the Closing Date does not exceed 10% of the
      Consolidated Total Tangible Assets (measured on the date of incurrence of the
      most recent of such Indebtedness);

     

    (f)  
      any Asset Sale (including any sale and leaseback transactions permitted by
      Section 7.11) or Recovery Event; provided
      that the
      aggregate fair market value of all assets sold in connection 

     

    

    
      
        
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    with
      Asset Sales in reliance on this clause (f) since the Closing Date shall not
      exceed the Permitted Asset Sale Amount then in effect, and provided,
      further
      that the
      requirements of Section 2.12(b) are complied with in connection with such Asset
      Sale; 

     

    (g)  
      monetary payments made in the ordinary course of business;

     

    (h)  
      the sale or discount without recourse of accounts receivable arising in the
      ordinary course of business of the Parent Borrower and its Subsidiaries in
      connection with the compromise or collection thereof; 

    (i)  
      the sale or issuance of a minimal number of any Foreign Subsidiary’s Capital
      Stock to a foreign national to the extent required by local law in a
      jurisdiction outside the United States;

     

    (j)  
      any Disposition of Property or series of related Dispositions of Property which
      yields net proceeds to the Parent Borrower or any of its Subsidiaries (valued
      at
      the initial principal amount thereof in the case of non-cash proceeds consisting
      of notes or other debt securities and valued at fair market value in the case
      of
      other non-cash proceeds) of less than $5,000,000;

     

    (k)  
      the sale, transfer, encumbrance or other disposition of accounts receivable
      or
      related ancillary rights and assets pursuant to a Receivables Transfer Program;
      and

     

    (l)  
      the sale, transfer, encumbrance or other disposition of securities or related
      ancillary rights and assets pursuant to sales, marketing and distribution
      arrangements.

     

    Any
      Collateral which is sold, transferred or otherwise conveyed pursuant to this
      Section 7.5 to a Person other than the Parent Borrower and its Subsidiaries
      shall, upon the consummation of such sale in accordance with the terms of this
      Agreement and the other Loan Documents, be released from the Liens granted
      pursuant to the Security Documents and each Lender hereby authorizes and
      instructs the Administrative Agent to take such action as the Parent Borrower
      reasonably may request to evidence such release.

     

    SECTION
      7.6   Limitation
      on Dividends.
      Declare
      or pay any dividend (other than dividends payable solely in Capital Stock of
      the
      Person making such dividend) on, or make any payment on account of, or set
      apart
      assets for a sinking or other analogous fund for, the purchase, redemption,
      defeasance, retirement or other acquisition of, any shares of any class of
      Capital Stock of the Parent Borrower or any Subsidiary or any warrants or
      options to purchase any such Capital Stock, whether now or hereafter
      outstanding, or make any other distribution in respect thereof, either directly
      or indirectly, whether in cash or property or in obligations of the Parent
      Borrower or any Subsidiary (collectively, “Restricted
      Payments”),
      except:

     

    (a) that
      any
      Subsidiary may make Restricted Payments to the Parent Borrower or any
      Wholly-Owned Subsidiary Guarantor;

     

    (b) (A)
      repurchases of Capital Stock made in order to fulfill the obligations of the
      Parent Borrower or any Subsidiary under an employee or director stock purchase
      plan or similar plan covering employees of the Parent Borrower or any Subsidiary
      as from time to time in effect and (B) cash payments made in lieu of issuing
      fractional shares of Borrower’s Capital Stock, in an aggregate amount for
      purposes of clauses (A) and (B) not to exceed $10,000,000 per year;

     

    
      
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    (c) redemptions
      of Capital Stock in connection with a rights plan adopted by the Board of
      Directors of the Parent Borrower in an aggregate amount equal to $10,000,000
      since the Closing Date; and 

     

    (d) that
      the
      Parent Borrower may make Restricted Payments (i) in any fiscal year in an
      aggregate amount not to exceed $30,000,000, provided
      that any
      such amount referred to in this clause (i), if not so expended in the fiscal
      year for which it is permitted, may be carried over for expenditure in, but
      only
      in, the next succeeding fiscal year or (ii) with any Available Excess Cash
      Flow.

     

    SECTION
      7.7   Limitation
      on Capital Expenditures.
      Make or
      commit to make (by way of the acquisition of securities of a Person or
      otherwise) any Capital Expenditure (other than any Capital Expenditure
      in connection with a Permitted Business Acquisition the amount of which is
      included in the calculation thereof), except (a) Capital Expenditures of the
      Parent Borrower and its Subsidiaries in the ordinary course of business not
      exceeding $30,000,000 for each fiscal year, provided
      that (i)
      such amount, if not so expended in the fiscal year for which it is permitted,
      may be carried over for expenditure in, but only in, the next succeeding fiscal
      year and (ii) Capital Expenditures made pursuant to this clause (a) during
      any
      fiscal year shall be deemed made, first,
      in
      respect of amounts carried over from the prior fiscal year pursuant to subclause
      (i) above and, second,
      in
      respect of amounts permitted for such fiscal year as provided above and (b)
      Capital Expenditures made with the proceeds of any Reinvestment Deferred
      Amount.

     

    SECTION
      7.8   Limitation
      on Investments, Loans and Advances.
      Make
      any advance, loan, extension of credit (by way of guaranty or otherwise) or
      capital contribution to, or purchase any stock, bonds, notes, debentures or
      other securities of or any assets constituting all or a material part of a
      business unit of, or make any other investment in, any Person,
      except:

     

    (a) extensions
      of trade credit in the ordinary course of business;

     

    (b) investments
      in Cash Equivalents;

     

    (c) Guarantee
      Obligations permitted by Section 7.2;

     

    (d) loans
      and
      advances to employees or directors of the Parent Borrower or its Subsidiaries
      in
      the ordinary course of business (including, without limitation, for travel,
      entertainment and relocation expenses) in an aggregate amount for the Parent
      Borrower and its Subsidiaries not to exceed $2,000,000 at any one time
      outstanding, provided,
      however
      that
      this provision shall not limit key man insurance;

     

    (e) the
      investment by the Parent Borrower of accounts receivable or related rights
      and
      assets pursuant to a Receivables Transfer Program into a Subsidiary of the
      Parent Borrower; 

     

    (f) investments
      made by the Parent Borrower or any of its Subsidiaries with the proceeds of
      any
      Reinvestment Deferred Amount;

     

    (g) investments
      by the Parent Borrower or any of its Subsidiaries in the Parent Borrower or
      any
      Subsidiary Guarantor in the ordinary course of business;

     

    (h) investments
      (including debt obligations and Capital Stock) by the Parent Borrower and its
      Subsidiaries received in connection with the bankruptcy or reorganization of
      suppliers and 

     

    

      
        
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    customers
      and in settlement of delinquent obligations of, and other disputes with,
      customers and suppliers arising in the ordinary course of business;

     

    (i) so
      long
      as no Default or Event of Default shall have occurred and be continuing, the
      Parent Borrower and any Subsidiary may (i) make equity investments in, or
      create, any Wholly-Owned Foreign Subsidiary (by way of capital contribution
      or
      otherwise), provided
      that (x)
      the requirements of Section 6.9 are satisfied and (y) the aggregate amount
      of
      all such investments in such Foreign Subsidiaries (other than investments in
      Foreign Subsidiaries in accordance with Section 7.8(k)) shall not exceed
      $60,000,000 since the Closing Date (plus any Available Excess Cash Flow) and
      (ii) make advances, loans or extensions of credit to any Wholly-Owned Foreign
      Subsidiary, provided
      that the
      Indebtedness of such Wholly-Owned Foreign Subsidiary is permitted under Section
      7.2(j);

     

    (j) in
      addition to investments otherwise expressly permitted by this Section 7.8,
      so
      long as no Default or Event of Default shall have occurred and be continuing,
      investments, loans or advances by the Parent Borrower or any of its Subsidiaries
      in an aggregate amount (valued at cost) not to exceed $30,000,000 since the
      Closing Date;

     

    (k) other
      investments constituting Permitted Business Acquisitions for aggregate
      consideration not to exceed $150,000,000 (plus any Available Excess Cash Flow)
      in any one calendar year; provided
      that if
      any earn-out payment is contemplated in connection with any such Permitted
      Business Acquisition, then, for the purposes of this Section 7.8(k), such
      earn-out payment shall constitute consideration as part of a Permitted Business
      Acquisition in the calendar year in which such payment is made and be subject
      to
      the basket limitations above at the time of payment thereof, regardless of
      the
      date such Permitted Business Acquisition is consummated.

     

    SECTION
      7.9   Limitation
      on Optional Payments and Modifications of Debt Instruments,
      etc.
      (a)  Make or offer to make any payment, prepayment, repurchase or
      redemption of or otherwise defease or segregate funds with respect to Permitted
      Subordinated Indebtedness (other than scheduled interest payments required
      to be
      made in cash), other than (i) with any Available Excess Cash Flow or (ii) with
      Net Cash Proceeds of the sale or issuance of Capital Stock by the Parent
      Borrower or any of its Subsidiaries which remain available after application
      of
      the required percentage of such Net Cash Proceeds to the prepayment of the
      Term
      Loans in accordance with Section 2.12(a)(i), if required
      thereunder;

     

    (b)  
      amend, modify, waive or otherwise change, or consent or agree to any amendment,
      modification, waiver or other change to any Permitted Subordinated Indebtedness
      (i) which amends or modifies the subordination provisions contained therein;
      (ii) which shortens the fixed maturity, or increases the rate or shortens the
      time of payment of interest on, or increases the amount or shortens the time
      of
      payment of any principal or premium payable whether at maturity, at a date
      fixed
      for prepayment or by acceleration or otherwise of such Indebtedness, or
      increases the amount of, or accelerates the time of payment of, any fees payable
      in connection therewith; (iii) which relates to the affirmative or negative
      covenants, events of default or remedies under the documents or instruments
      evidencing such Indebtedness and the effect of which is to subject the Parent
      Borrower or any of its Subsidiaries, to any more onerous or more restrictive
      provisions; or (iv) which otherwise adversely affects the interests of the
      Lenders as senior creditors or the interests of the Lenders under this Agreement
      or any other Loan Document in any respect; or

     

    (c)  
      amend its certificate of incorporation in any manner materially adverse to
      the
      Lenders without the prior written consent of the Required Lenders.

     

     

    
      
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    SECTION
      7.10   Limitation
      on Transactions with Affiliates.
      Enter
      into any transaction, including, without limitation, any purchase, sale, lease
      or exchange of Property, the rendering of any service or the payment of any
      management, advisory or similar fees, with any Affiliate (other than the Parent
      Borrower or any Wholly-Owned Subsidiary Guarantor) unless such transaction
      is
      (a) not otherwise prohibited under this Agreement and (b) upon fair
      and reasonable terms no less favorable to the Parent Borrower or such
      Subsidiary, as the case may be, than it would obtain in a comparable arm’s
      length transaction with a Person which is not an Affiliate, except that this
      Section 7.10 shall not prohibit the sale, transfer, encumbrance or other
      disposition by the Parent Borrower to a Subsidiary of the Parent Borrower of
      accounts receivable or related ancillary rights or assets, or interests therein,
      pursuant to a Receivables Transfer Program.

     

    SECTION
      7.11   Limitation
      on Sales and Leasebacks.
      Enter
      into any arrangement with any Person providing for the leasing by the Parent
      Borrower or any Subsidiary of real or personal property which
      has
      been or is to be sold or transferred by the Parent Borrower or such Subsidiary
      to such Person or to any other Person to whom funds have been or are to be
      advanced by such Person on the security of such property or rental obligations
      of the Parent Borrower or such Subsidiary, except in respect of assets the
      aggregate fair market value of which does not exceed $20,000,000 since the
      Closing Date.

     

    SECTION
      7.12   Limitation
      on Changes in Fiscal Periods.
      Change
      the Parent Borrower’s method of determining fiscal quarters or fiscal
      years.

     

    SECTION
      7.13   Limitation
      on Negative Pledge Clauses.
      Enter
      into or suffer to exist or become effective any agreement which prohibits or
      limits the ability of the Parent Borrower or any of its Subsidiaries to create,
      incur, assume or suffer to exist any Lien upon any of its Property or revenues,
      whether now owned or hereafter acquired, to secure the Obligations or, in the
      case of any Guarantor, its obligations under the Guarantee and Collateral
      Agreement, other than (a) this Agreement and the other Loan Documents, (b)
      any
      agreements governing any purchase money Liens, Capital Lease Obligations
      otherwise permitted hereby or Liens permitted by Sections 7.3(f) or (l) (in
      which case, any prohibition or limitation shall only be effective against the
      assets financed thereby) and (c) an agreement entered into in connection with
      a
      Receivables Transfer Program that prohibits or limits the ability of the Parent
      Borrower or any of its Subsidiaries to create, incur, assume or suffer to exist
      any Lien upon the accounts receivable or related ancillary rights or assets,
      or
      interests therein, sold, transferred, encumbered or otherwise disposed of
      pursuant to such Receivable Transfer Program.

     

    SECTION
      7.14   Limitation
      on Restrictions on Subsidiary
      Distributions.
      Enter
      into or suffer to exist or become effective any consensual encumbrance or
      restriction on the ability of any Subsidiary of the Parent Borrower to (a)
      pay
      dividends or make any other distributions in respect of any Capital Stock of
      such Subsidiary held by, or pay any Indebtedness owed to, the Parent Borrower
      or
      any other Subsidiary of the Parent Borrower, (b) make loans or advances to,
      or
      other Investments in, the Parent Borrower or any other Subsidiary of the Parent
      Borrower or (c) transfer any of its assets to the Parent Borrower or any other
      Subsidiary of the Parent Borrower, except for such encumbrances or restrictions
      existing under or by reason of (i) any restrictions existing under the Loan
      Documents, (ii) any restrictions with respect to a Subsidiary imposed pursuant
      to an agreement which has been entered into in connection with the Disposition
      of all or substantially all of the Capital Stock or assets of such Subsidiary
      and (iii) any restrictions imposed pursuant to a Receivables Transfer Program
      with respect to a Subsidiary established solely for the purpose of a Receivables
      Transfer Program.

     

    SECTION
      7.15   Limitation
      on Lines of Business.
      Enter
      into any business, either directly or through any Subsidiary, except for those
      businesses in which the Parent Borrower or any of its Subsidiaries is engaged
      on
      the date of this Agreement or which are reasonably related thereto.

     

     

    
      
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    ARTICLE
      VIII. EVENTS
      OF DEFAULT

     

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

     

    (a) The
      Borrower shall fail to pay any principal of any Loan or Reimbursement Obligation
      when due in accordance with the terms hereof; or any Borrower shall fail to
      pay
      any interest on any Loan or Reimbursement Obligation or any other amount payable
      hereunder or under any other Loan Document within five days after any such
      interest or other amount becomes due in accordance with the terms hereof;
      or

     

    (b) Any
      representation or warranty made or deemed made by any Loan Party herein or
      in
      any other Loan Document or which is contained in any certificate, document
      or
      financial or other statement
      furnished by it at any time under or in connection with this Agreement or any
      such other Loan Document shall prove to have been inaccurate in any material
      respect on or as of the date made or deemed made; or

     

    (c) Any
      Loan
      Party shall default in the observance or performance of any agreement contained
      in clause (i) of Section 6.4(a) (with respect to the Borrowers only), Section
      6.7(a) or Article VII; or

     

    (d) Any
      Loan
      Party shall default in the observance or performance of any other agreement
      contained in this Agreement or any other Loan Document (other than as provided
      in paragraphs (a) through (c) of this Article VIII), and such default shall
      continue unremedied for a period of 30 days; or

     

    (e) The
      Parent Borrower or any of its Subsidiaries shall (i) default in making any
      payment of any principal of any Indebtedness (including, without limitation,
      any
      Guarantee Obligation, but excluding the Loans) on the scheduled or original
      due
      date with respect thereto; or (ii) default in making any payment of any interest
      on any such Indebtedness beyond the period of grace (not to exceed 31 days),
      if
      any, provided in the instrument or agreement under which such Indebtedness
      was
      created; or (iii) default in the observance or performance of any other
      agreement or condition relating to any such Indebtedness or contained in any
      instrument or agreement evidencing, securing or relating thereto, or any other
      event shall occur or condition exist, the effect of which default or other
      event
      or condition is to cause, or to permit the holder or beneficiary of such
      Indebtedness (or a trustee or agent on behalf of such holder or beneficiary)
      to
      cause, with the giving of notice if required, such Indebtedness to become due
      prior to its stated maturity or (in the case of any such Indebtedness
      constituting a Guarantee Obligation) to become payable; provided
      that a
      default, event or condition described in clause (i), (ii) or (iii) of this
      paragraph (e) shall not at any time constitute an Event of Default unless,
      at
      such time, one or more defaults, events or conditions of the type described
      in
      clauses (i), (ii) and (iii) of this paragraph (e) shall have occurred and be
      continuing with respect to Indebtedness the outstanding principal amount of
      which exceeds in the aggregate $10,000,000; or

     

    (f) (i)
      The
      Parent Borrower or any of its Subsidiaries shall commence any case, proceeding
      or other action (A) under any existing or future law of any jurisdiction,
      domestic or foreign, relating to bankruptcy, insolvency, reorganization or
      relief of debtors, seeking to have an order for relief entered with respect
      to
      it, or seeking to adjudicate it a bankrupt or insolvent, or seeking
      reorganization, arrangement, adjustment, winding-up, liquidation, dissolution,
      composition or other relief with respect to it or its debts, or (B) seeking
      appointment of a receiver, trustee, custodian, conservator or other similar
      official for it or for all or any substantial part of its assets, or the Parent
      Borrower or any of its Subsidiaries shall make a general assignment for the
      

    
      
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    benefit
      of its creditors; or (ii) there shall be commenced against the Parent Borrower
      or any of its Subsidiaries any case, proceeding or other action of a nature
      referred to in clause (i) above which (A) results in the entry of an order
      for
      relief or any such adjudication or appointment or (B) remains undismissed,
      undischarged or unbonded for a period of 60 days; or (iii) there shall be
      commenced against the Parent Borrower or any of its Subsidiaries any case,
      proceeding or other action seeking issuance of a warrant of attachment,
      execution, distraint or similar process against all or any substantial part
      of
      its assets which results in the entry of an order for any such relief which
      shall not have been vacated, discharged, or stayed or bonded pending appeal
      within 60 days from the entry thereof; or (iv) the Parent Borrower or any of
      its
      Subsidiaries shall take any action in furtherance of, or indicating its consent
      to, approval of, or acquiescence in, any of the acts set forth in clause (i),
      (ii), or (iii) above; or (v) the Parent Borrower or any of its Subsidiaries
      shall generally not, or shall be unable to, or shall admit in writing its
      inability to, pay its debts as they become due; or

     

    (g) (i)
      Any
      Person shall engage in any “prohibited transaction” (as defined in Section 406
      of ERISA or Section 4975 of the Code) involving any Plan, (ii) any
“accumulated funding deficiency” (as defined in Section 302 of ERISA), whether
      or not waived, shall exist with respect to any Plan or any Lien in favor of
      the
      PBGC or a Plan shall arise on the assets of the Parent Borrower or any Commonly
      Controlled Entity, (iii) a Reportable Event shall occur with respect to, or
      proceedings shall commence to have a trustee appointed, or a trustee shall
      be
      appointed, to administer or to terminate, any Single Employer Plan, which
      Reportable Event or commencement of proceedings or appointment of a trustee
      is,
      in the reasonable opinion of the Required Lenders, likely to result in the
      termination of such Plan for purposes of Title IV of ERISA, (iv) any Single
      Employer Plan shall terminate for purposes of Title IV of ERISA, (v) the
      Parent Borrower or any Commonly Controlled Entity shall, or in the reasonable
      opinion of the Required Lenders is likely to, incur any liability in connection
      with a withdrawal from, or the Insolvency or Reorganization of, a Multiemployer
      Plan or (vi) any other event or condition which shall occur or exist with
      respect to a Plan; and in each case in clauses (i) through (vi) above, such
      event or condition, together with all other such events or conditions, if any,
      could, in the sole judgment of the Required Lenders, reasonably be expected
      to
      have a Material Adverse Effect; or

     

    (h) One
      or
      more judgments or decrees shall be entered against the Parent Borrower or any
      of
      its Subsidiaries involving in the aggregate a liability (not covered by
      insurance as to which the relevant insurance company has acknowledged coverage)
      of $10,000,000 or more, and all such judgments or decrees shall not have been
      paid, vacated, discharged, stayed or bonded pending appeal within 60 days from
      the entry thereof; or

     

    (i) Any
      of
      the Security Documents shall cease, for any reason, to be in full force and
      effect, or any Loan Party or any Affiliate of any Loan Party shall so assert,
      or
      any Lien created by any of the Security Documents in respect of material assets
      shall cease to be enforceable and of the same effect and priority purported
      to
      be created thereby; or

     

    (j) The
      guarantee contained in Section 2 of the Guarantee and Collateral Agreement
      shall
      cease, for any reason, to be in full force and effect or any Loan Party or
      any
      Affiliate of any Loan Party shall so assert; or

     

    (k) (i)
      Any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of
      the Securities Exchange Act of 1934, as amended (the “Exchange
      Act”)),
      (A)
      shall become, or obtain rights (whether by means or warrants, options or
      otherwise) to become, the “beneficial owner” (as defined in Rules 13(d)-3 and
      13(d)-5 under the Exchange Act), directly or indirectly, of more than 35% of
      the
      outstanding common stock of the Parent Borrower or (B) shall obtain the power
      (whether or not exercised) to elect a majority of the Parent Borrower’s
      directors; or (ii) the board of directors of the Parent Borrower shall
      cease to consist of a majority of Continuing Directors; or

     

    
      
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    (l) Any
      Permitted Subordinated Indebtedness or any guarantee thereof shall cease, for
      any reason, to be validly subordinated to the Obligations or the obligations
      of
      the Subsidiary Guarantors under the Guarantee and Collateral Agreement, as
      the
      case may be, as provided in the documents evidencing such Permitted Subordinated
      Indebtedness, or any Loan Party, any Affiliate of any Loan Party, the trustee,
      if any, in respect of such Permitted Subordinated Indebtedness or the holders
      of
      at least 25% in aggregate principal amount of such Permitted Subordinated
      Indebtedness shall so assert; 

     

    then,
      and
      in any such event, (A) if such event is an Event of Default specified in clause
      (i) or (ii) of paragraph (f) above with respect to the Borrowers, automatically
      the Commitments shall immediately terminate and the Loans hereunder (with
      accrued interest thereon) and all other amounts owing under this Agreement
      and
      the other Loan Documents (including, without limitation, all amounts of L/C
      Obligations, whether or not the beneficiaries of the then outstanding Letters
      of
      Credit shall have presented the documents required thereunder) shall immediately
      become due and payable, and (B) if such event is any other Event of Default,
      either or both of the following actions may be taken: (i) with the consent
      of
      the Majority Revolving Credit Facility Lenders, the Administrative Agent may,
      or
      upon the request of the Majority Revolving Credit Facility Lenders, the
      Administrative Agent shall, by notice to the Borrowers declare the Revolving
      Credit Commitments to be terminated forthwith, whereupon the Revolving Credit
      Commitments shall immediately terminate; and (ii) with the consent of the
      Required Lenders, the Administrative Agent may, or upon the request of the
      Required Lenders, the Administrative Agent shall, by notice to the Borrowers,
      declare the Loans hereunder (with accrued interest thereon) and all other
      amounts owing under this Agreement and the other Loan Documents (including,
      without limitation, all amounts of L/C Obligations, whether or not the
      beneficiaries of the then outstanding Letters of Credit shall have presented
      the
      documents required thereunder) to be due and payable forthwith, whereupon the
      same shall immediately become due and payable. With respect to all Letters
      of
      Credit with respect to which presentment for honor shall not have occurred
      at
      the time of an acceleration pursuant to this paragraph, the Borrowers shall
      at
      such time deposit in a cash collateral account opened by the Administrative
      Agent an amount equal to the aggregate then undrawn and unexpired amount of
      such
      Letters of Credit. Amounts held in such cash collateral account shall be applied
      by the Administrative Agent to the payment of drafts drawn under such Letters
      of
      Credit, and the unused portion thereof after all such Letters of Credit shall
      have expired or been fully drawn upon, if any, shall be applied to repay other
      obligations of the Borrowers hereunder and under the other Loan Documents.
      After
      all such Letters of Credit shall have expired or been fully drawn upon, all
      Reimbursement Obligations shall have been satisfied and all other obligations
      of
      the Borrowers hereunder and under the other Loan Documents shall have been
      paid
      in full, the balance, if any, in such cash collateral account shall be returned
      to the Borrowers (or such other Person as may be lawfully entitled thereto).
      Except as expressly provided above in this Article VIII, presentment, demand,
      protest and all other notices of any kind are hereby expressly waived by the
      Borrowers.

     

    ARTICLE
      IX. THE
      ADMINISTRATIVE AGENT

     

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

     

    

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

     

    SECTION
      9.3   Exculpatory
      Provisions.
      Neither
      the Administrative Agent nor any of its officers, directors, employees, agents,
      attorneys-in-fact or affiliates shall be (i) liable for any action lawfully
      taken or omitted to be taken by it or such Person under or in connection with
      this Agreement or any other Loan Document (except to the extent that any of
      the
      foregoing are found by a final and nonappealable decision of a court of
      competent jurisdiction to have resulted from its or such Person’s own gross
      negligence or willful misconduct) or (ii) responsible in any manner to any
      of
      the Lenders for any recitals, statements, representations or warranties made
      by
      any Loan Party or any officer thereof contained in this Agreement or any other
      Loan Document or in any certificate, report, statement or other document
      referred to or provided for in, or received by the Administrative Agent under
      or
      in connection with, this Agreement or any other Loan Document or for the value,
      validity, effectiveness, genuineness, enforceability or sufficiency of this
      Agreement or any other Loan Document or for any failure of any Loan Party a
      party thereto to perform its obligations hereunder or thereunder. The
      Administrative Agent shall not be under any obligation to any Lender to
      ascertain or to inquire as to the observance or performance of any of the
      agreements contained in, or conditions of, this Agreement or any other Loan
      Document, or to inspect the properties, books or records of any Loan
      Party.

     

    SECTION
      9.4   Reliance
      by Administrative Agent.
      The
      Administrative Agent shall be entitled to rely, and shall be fully protected
      in
      relying, upon any instrument, writing, resolution, notice, consent, certificate,
      affidavit, letter, telecopy, telex or teletype message, statement, order or
      other document or conversation believed by it to be genuine and correct and
      to
      have been signed, sent or made by the proper Person or Persons and upon advice
      and statements of legal counsel (including, without limitation, counsel to
      the
      Loan Parties), independent accountants and other experts selected by the
      Administrative Agent. The Administrative Agent may deem and treat the payee
      of
      any Note as the owner thereof for all purposes unless a written notice of
      assignment, negotiation or transfer thereof shall have been filed with the
      Administrative Agent. The Administrative Agent shall be fully justified in
      failing or refusing to take any action under this Agreement or any other Loan
      Document unless it shall first receive such advice or concurrence of the
      Required Lenders (or, if so specified by this Agreement, all Lenders) as it
      deems appropriate or it shall first be indemnified to its satisfaction by the
      Lenders against any and all liability and expense which may be incurred by
      it by
      reason of taking or continuing to take any such action. The Administrative
      Agent
      shall in all cases be fully protected in acting, or in refraining from acting,
      under this Agreement and the other Loan Documents in accordance with a request
      of the Required Lenders (or, if so specified by this Agreement, all Lenders),
      and such request and any action taken or failure to act pursuant thereto shall
      be binding upon all the Lenders and all future holders of the
      Loans.

     

    SECTION
      9.5   Notice
      of Default.
      The
      Administrative Agent shall not be deemed to have knowledge or notice of the
      occurrence of any Default or Event of Default hereunder unless the
      Administrative Agent has received notice from a Lender or the Borrowers
      referring to this Agreement, describing such Default or Event of Default and
      stating that such notice is a “notice
      of default”.
      In the
      event that the Administrative Agent receives such a notice, the Administrative
      Agent shall give notice 

     

    

    
      
        
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    thereof
      to the Lenders. The Administrative Agent shall take such action with respect
      to
      such Default or Event of Default as shall be reasonably directed by the Required
      Lenders (or, if so specified by this Agreement, all Lenders); provided
      that unless and until the Administrative Agent shall have received such
      directions, the Administrative Agent may (but shall not be obligated to) take
      such action, or refrain from taking such action, with respect to such Default
      or
      Event of Default as it shall deem advisable in the best interests of the
      Lenders.

    

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

     

    SECTION
      9.7   Indemnification.
      The
      Lenders agree to indemnify the Administrative Agent in its capacity as such
      (to
      the extent not reimbursed by the Borrowers and without limiting the obligation
      of the Borrowers to do so), ratably according to their respective Aggregate
      Exposure Percentages in effect on the date on which indemnification is sought
      under this Section 9.7 (or, if indemnification is sought after the date upon
      which the Commitments shall have terminated and the Loans shall have been paid
      in full, ratably in accordance with such Aggregate Exposure Percentages
      immediately prior to such date), from and against any and all liabilities,
      obligations, losses, damages, penalties, actions, judgments, suits, costs,
      expenses or disbursements of any kind whatsoever which may at any time
      (including, without limitation, at any time following the payment of the Loans)
      be imposed on, incurred by or asserted against the Administrative Agent in
      any
      way relating to or arising out of, the Commitments, this Agreement, any of
      the
      other Loan Documents or any documents contemplated by or referred to herein
      or
      therein or the transactions contemplated hereby or thereby or any action taken
      or omitted by the Administrative Agent under or in connection with any of the
      foregoing; provided
      that no
      Lender shall be liable for the payment of any portion of such liabilities,
      obligations, losses, damages, penalties, actions, judgments, suits, costs,
      expenses or disbursements which are found by a final and nonappealable decision
      of a court of competent jurisdiction to have resulted from the Administrative
      Agent’s gross negligence or willful misconduct. The agreements in this Section
      9.7 shall survive the payment of the Loans and all other amounts payable
      hereunder.

     

    SECTION
      9.8   Administrative
      Agent in Its Individual Capacity.
      The
      Administrative Agent and its affiliates may make loans to, accept deposits
      from
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    business
      with any Loan Party as though the Administrative Agent was not an Administrative
      Agent. With respect to its Loans made or renewed by it and with respect to
      any
      Letter of Credit issued or participated in by it, the Administrative Agent
      shall
      have the same rights and powers under this Agreement and the other Loan
      Documents as any Lender and may exercise the same as though it were not an
      Administrative Agent, and the terms “Lender” and “Lenders” shall include the
      Administrative Agent in its individual capacity.

     

    SECTION
      9.9   Successor
      Administrative Agents.
      The
      Administrative Agent may resign as Administrative Agent upon 30 days’ notice to
      the Lenders and the Parent Borrower. If the Administrative Agent shall resign
      as
      Administrative Agent under this Agreement and the other Loan Documents, then
      the
Required Lenders shall appoint from among the Lenders a successor agent
      for the Lenders, which successor agent shall (unless an Event of Default under
      Section 8(a) or Section 8(f) with respect to the Parent Borrower shall have
      occurred and be continuing) be subject to approval by the Parent Borrower (which
      approval shall not be unreasonably withheld or delayed), whereupon such
      successor agent shall succeed to the rights, powers and duties of the
      Administrative Agent, and the term “Administrative
      Agent”
shall
      mean such successor agent effective upon such appointment and approval, and
      the
      former Administrative Agent’s rights, powers and duties as Administrative Agent
      shall be terminated, without any other or further act or deed on the part of
      such former Administrative Agent or any of the parties to this Agreement or
      any
      holders of the Loans. If no successor agent has accepted appointment as
      Administrative Agent by the date that is 10 days following a retiring
      Administrative Agent’s notice of resignation, the retiring Administrative
      Agent’s resignation shall nevertheless thereupon become effective, and the
      Lenders shall assume and perform all of the duties of the Administrative Agent
      hereunder until such time, if any, as the Required Lenders appoint a successor
      agent as provided for above. 

     

    SECTION
      9.10   Authorization
      to Release Liens.
      The
      Administrative Agent is hereby irrevocably authorized by each of the Lenders
      to
      release any Lien covering any Property of the Parent Borrower or any of its
      Subsidiaries that is the subject of a Disposition which is permitted by this
      Agreement, which has been consented to in accordance with Section 10.1 or in
      accordance with Section 10.13.

     

    ARTICLE
      X. MISCELLANEOUS

     

    SECTION
      10.1   Amendments
      and Waivers.
      Neither
      this Agreement, any other Loan Document, nor any terms hereof or thereof may
      be
      amended, supplemented or modified except in accordance with the provisions
      of
      this Section 10.1. The Required Lenders and each Loan Party party to the
      relevant Loan Document may, or (with the written consent of the Required
      Lenders) the Administrative Agent and each Loan Party party to the relevant
      Loan
      Document may, from time to time, (a) enter into written amendments, supplements
      or modifications hereto and to the other Loan Documents for the purpose of
      adding any provisions to this Agreement or the other Loan Documents or changing
      in any manner the rights of the Lenders or of the Loan Parties hereunder or
      thereunder or (b) waive, on such terms and conditions as the Required Lenders,
      or the Administrative Agent, as the case may be, may specify in such instrument,
      any of the requirements of this Agreement or the other Loan Documents or any
      Default or Event of Default and its consequences; provided
      that no
      such waiver and no such amendment, supplement or modification shall (i) forgive
      the principal amount or extend the final scheduled date of maturity of any
      Loan,
      extend the scheduled date of any amortization payment in respect of any Term
      Loan, reduce the stated rate of any interest, fee or letter of credit commission
      payable hereunder or extend the scheduled date of any payment thereof, permit
      the duration of any Interest Period to be beyond six months, or increase the
      amount or extend the expiration date of any Lender’s Commitment in each case
      without the consent of each Lender directly affected thereby; (ii) amend,
      modify or waive any provision of this Section 10.1 or reduce any percentage
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    Required
      Lenders, consent to the assignment or transfer by any Borrower of any of its
      rights and obligations under this Agreement and the other Loan Documents, or
      release all or substantially all of the Collateral, release a significant
      Subsidiary Guarantor from its obligations under the Guarantee and Collateral
      Agreement, in each case without the written consent of all Lenders; (iii) reduce
      the percentage specified in the definition of Majority Facility Lenders without
      the written consent of all Lenders under each affected Facility;
      (iv) amend, modify or waive any provision of Section 2.18 without the
      written consent of the Majority Facility Lenders in respect of each Facility
      adversely affected thereby, (v) reduce the amount of Net Cash Proceeds or Excess
      Cash Flow required to be applied to prepay Loans under this Agreement without
      the written consent of the Majority Facility Lenders with respect to each
      affected Facility, (vi) amend, modify or waive any provision of Article IX
      without the written consent of the Administrative Agent; (vii) amend, modify
      or
      waive any provision of Sections 2.6 and 2.7, without the express written consent
      of the Swingline Lender, (viii) amend, modify or waive any provision of Article
      III without the written consent of the Issuing Lender or (ix) waive any
      condition set forth in Section 5.1 or Section 5.2 without the written consent
      of
      the Required Lenders and the Majority Facility Lenders with respect to the
      Revolving Credit Facility. Any such waiver and any such amendment, supplement
      or
      modification shall apply equally to each of the Lenders and shall be binding
      upon the Loan Parties, the Lenders, the Administrative Agent and all future
      holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders
      and the Administrative Agent shall be restored to their former position and
      rights hereunder and under the other Loan Documents, and any Default or Event
      of
      Default waived shall be deemed to be cured and not continuing; but no such
      waiver shall extend to any subsequent or other Default or Event of Default,
      or
      impair any right consequent thereon. 

     

    Notwithstanding
      the foregoing, this Agreement may be amended with the written consent of the
      Parent Borrower, the Administrative Agent and the Revolving Credit Lenders
      providing Extended Revolving Credit Commitments (as defined below) under the
      Extended Revolving Credit Facility (as defined below) to permit the extension
      of
      the Revolving Credit Facility beyond the original Revolving Credit Termination
      Date (as extended, the “Extended
      Revolving Credit Facility”)
      and
      the Loans thereunder (“Extended
      Revolving Credit Loans”
and
      the
      commitments thereunder, “Extended
      Revolving Credit Commitments”);
      provided that (a) no Default or Event of Default has occurred and is continuing
      or would result from any such extension of the Revolving Credit Termination
      Date, (b) the aggregate Extended Revolving Credit Commitment shall not exceed
      the Total Revolving Credit Commitments in effect immediately prior to any such
      extension without the consent of the Required Lenders, (c) no Revolving Credit
      Lender shall have any obligation to participate in any extension described
      in
      this paragraph unless it agrees to do so in its sole discretion, (d) the
      Revolving Credit Commitments of any nonparticipating Revolving Credit Lender
      shall terminate and the Revolving Credit Loans of such Lender shall be due
      and
      payable on the original Revolving Credit Termination Date or such other date
      specified by Article VIII and (e) all other terms applicable to such Extended
      Revolving Credit Loans (other than terms relating to pricing) shall be
      substantially identical to those applicable to the Revolving Credit
      Loans.

     

    SECTION
      10.2   Notices.
      All
      notices, requests and demands to or upon the respective parties hereto to be
      effective shall be in writing (including by telecopy), and, unless otherwise
      expressly provided herein, shall be deemed to have been duly given or made
      when
      delivered, or three Business Days after being deposited in the mail, postage
      prepaid, or, in the case of telecopy notice, when received, addressed as follows
      in the case of the Parent Borrower and the Administrative Agent, as set forth
      in
      an administrative questionnaire delivered to the Administrative Agent in the
      case of the Lenders and as set forth in the Foreign Subsidiary Borrower Joinder
      Agreement in case of any Foreign Subsidiary Borrower, or to such other address
      as may be hereafter notified by the respective parties hereto:

     

     

    
      
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              The
                Borrower:

            	
              CONMED
                Corporation

              525
                French Road

              Utica,
                New York 13502

                
                Attention:  Daniel S. Jonas,
                General
                Counsel

                                   
                 Robert D. Shallish, Jr., Chief Financial Officer

              Telecopy:
                (315) 793-8929 / (315) 797-0321

              Telephone:
                (315) 624-3208 / (315) 797-8375

            
	 	 	 
	 	
              The
                Administrative

              Agent:

            	
              JPMorgan
                Chase Bank, N.A.

              Agent
                Bank Services Group

              1111
                Fannin, Tenth Floor

              Houston,
                Texas 77002

              Attention:
                Michael Chau

              Telecopy:
                (713) 750-2938

              Telephone:
                (713) 750-7913

            
	 	 	 
	 	
              with
                a copy to:

            	
              JPMorgan
                Chase Bank, N.A.

              Bridgewater
                Place

              500
                Plum Street

              Syracuse,
                New York 13204

              Attention:
                Frederick K. Miller

              Telecopy:
                (315) 478-7466

              Telephone:
                (315) 448-1425

            
	 	 	 
	 	
              and,
                in the case of Borrowings in any Optional Currencies, a copy
                to:

            	
              J.P.
                Morgan Europe Limited

              125
                London Wall

              London,
                England

              EC2Y
                5AJ 

              Attention:
                Belinda Lucas 

              Telecopy:
                +44-20-7777-2360 

              Telephone:
                +44-20-7777-0976 

            
	 	 	 

    

    provided
      that any
      notice, request or demand to or upon the Administrative Agent or the Lenders
      shall not be effective until received.

     

    Notices
      and other communications to the Lenders hereunder may be delivered or furnished
      by electronic communications pursuant to procedures approved by the
      Administrative Agent; provided
      that the
      foregoing shall not apply to notices pursuant to Article II unless otherwise
      agreed by the Administrative Agent and the applicable Lender. The Administrative
      Agent or any Borrower may, in its discretion, agree to accept notices and other
      communications to it hereunder by electronic communications pursuant to
      procedures approved by it; provided
      that
      approval of such procedures may be limited to particular notices or
      communications.

     

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

     

     

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

     

    SECTION
      10.5   Payment
      of Expenses.
      The
      Parent Borrower agrees (a) to pay or reimburse the Administrative Agent for
      all
      their reasonable out-of-pocket costs and expenses incurred in connection with
      the development, preparation and execution of, and any amendment, supplement
      or
      modification to, this
      Agreement and the other Loan Documents and any other documents prepared in
      connection herewith or therewith, and the consummation and administration of
      the
      transactions contemplated hereby and thereby, including, without limitation,
      the
      reasonable fees and disbursements of counsel to the Administrative Agent and
      filing and recording fees and expenses, with statements with respect to the
      foregoing to be submitted to the Parent Borrower prior to the Closing Date
      (in
      the case of amounts to be paid on the Closing Date) and from time to time
      thereafter on a quarterly basis or such other periodic basis as the
      Administrative Agent shall deem appropriate, (b) to pay or reimburse each Lender
      and the Administrative Agent for all its costs and expenses incurred in
      connection with the enforcement or preservation of any rights under this
      Agreement, the other Loan Documents and any such other documents, including,
      without limitation, the fees and disbursements of counsel (including the
      allocated fees and expenses of in-house counsel) to each Lender and of counsel
      to the Administrative Agent, (c) to pay, indemnify, and hold each Lender and
      the
      Administrative Agent harmless from, any and all recording and filing fees or
      any
      amendment, supplement or modification of, or any waiver or consent under or
      in
      respect of, this Agreement, the other Loan Documents and any such other
      documents, and (d) to pay, indemnify, and hold each Lender, the Administrative
      Agent and their respective officers, directors, trustees, employees, affiliates,
      agents and controlling persons (each, an “indemnitee”)
      harmless from and against any and all other liabilities, obligations, losses,
      damages, penalties, actions, judgments, suits, costs, expenses or disbursements
      of any kind or nature whatsoever (other than for loss of profits) with respect
      to the execution, delivery, enforcement, performance and administration of
      this
      Agreement, the other Loan Documents and any such other documents, including,
      without limitation, any of the foregoing relating to the use of proceeds of
      the
      Loans or the violation of, noncompliance with or liability under, any
      Environmental Law applicable to the operations of the Parent Borrower, any
      of
      its Subsidiaries or any of the Properties and the reasonable fees and expenses
      of legal counsel in connection with claims, actions or proceedings by any
      indemnitee against any Loan Party under any Loan Document (all the foregoing
      in
      this clause (d), collectively, the “indemnified
      liabilities”),
      provided,
      that
      the Parent Borrower shall have no obligation hereunder to any indemnitee with
      respect to indemnified liabilities to the extent such indemnified liabilities
      are found by a court of competent jurisdiction to resulted from the gross
      negligence or willful misconduct of such indemnitee. Without limiting the
      foregoing, and to the extent permitted by applicable law, the Parent Borrower
      agrees not to assert and to cause its Subsidiaries not to assert, and hereby
      waives and agrees to cause its Subsidiaries to so waive, all rights for
      contribution or any other rights of recovery with respect to all claims,
      demands, penalties, fines, liabilities, settlements, damages, costs and expenses
      of whatever kind or nature, under or related to Environmental Laws, that any
      of
      them might have by statute or otherwise against any indemnitee. All amounts
      due
      under this Section 10.5 shall be payable not later than 10 days after written
      demand therefor. The agreements in this Article X shall survive repayment of
      the
      Loans and all other amounts payable hereunder.

     

    SECTION
      10.6   Successors
      and Assigns; Participations and
      Assignments.
      (a)  The provisions of this Agreement shall be binding upon and inure
      to the benefit of the parties hereto and their respective successors and assigns
      permitted hereby (including any affiliate of the Issuing Lender that issues
      any
      Letter of Credit), except that (i) no Borrower may assign or otherwise transfer
      any of its rights or obligations hereunder without the prior written consent
      of
      each Lender (and any attempted assignment or transfer by any Borrower without
      such consent shall be null and void) and (ii) no Lender may assign or otherwise
      transfer its rights or obligations hereunder except in accordance with this
      Section 10.6. 

     

    
      
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    Nothing
      in this Agreement, expressed or implied, shall be construed to confer upon
      any
      Person (other than the parties hereto, their respective successors and assigns
      permitted hereby (including any affiliate of the Issuing Bank that issues any
      Letter of Credit), Participants (to the extent provided in paragraph (c) of
      this
      Section 10.6) and, to the extent expressly contemplated hereby, the affiliates
      of each of the Administrative Agent, the Issuing Bank and the Lenders) any
      legal
      or equitable right, remedy or claim under or by reason of this
      Agreement.

    (b)  
       (i)
      Subject to the conditions set forth in paragraph (b)(ii) below, any Lender
      may
      assign to one or more assignees (each, an “Assignee”)
      all or
      a portion of its rights and obligations under this Agreement (including all
      or a
      portion of its Commitments and the Loans at the time owing to it) with the
      prior
      written consent (such consent not to be unreasonably withheld) of:

     

    (A)
      the
      Parent Borrower, provided
      that no
      consent of the Parent Borrower shall be required for an assignment to a Lender,
      an affiliate of a Lender, an Approved Fund (as defined below) or, if an Event
      of
      Default has occurred and is continuing, any other Person; and

    

    (B) the
      Administrative Agent, provided
      that no
      consent of the Administrative Agent shall be required for an assignment of
      (x)
      any Revolving Credit Commitment to an Assignee that is a Lender with a Revolving
      Credit Commitment immediately prior to giving effect to such assignment or
      (y)
      all or any portion of a Term Loan to a Lender, an affiliate of a Lender or
      an
      Approved Fund.

    

    (ii)
      Assignments shall be subject to the following additional conditions:

    (A)
      except in the case of an assignment to a Lender, an affiliate of a Lender or
      an
      Approved Fund or an assignment of the entire remaining amount of the assigning
      Lender’s Commitments or Loans under any Facility, the amount of the Commitments
      or Loans of the assigning Lender subject to each such assignment (determined
      as
      of the date the Assignment and Assumption with respect to such assignment is
      delivered to the Administrative Agent) shall not be less than $5,000,000 with
      respect to the Revolving Credit Loans or $1,000,000, with respect to the Term
      Loans (in each case other than in the case of an assignment of all of a Lender’s
      interests under this Agreement), unless each of the Parent Borrower and the
      Administrative Agent otherwise consent, provided
      that (1)
      no such consent of the Parent Borrower shall be required if an Event of Default
      has occurred and is continuing and (2) such amounts shall be aggregated in
      respect of each Lender and its Affiliates or Approved Funds, if
      any;

    

    (B)
      each
      partial assignment shall be made as an assignment of a proportionate part of
      each of the assigning Lender’s rights and obligations under this Agreements,
provided
      that
      this clause shall not be construed to prohibit the assignment of a proportionate
      part of all the assigning Lender’s rights and obligations in respect of the
      Revolving Credit Commitments or Term Loans.

    

    (C)
      the
      parties to each assignment shall execute and deliver to the Administrative
      Agent
      an Assignment and Assumption, together with a processing and recordation fee
      of
      $3,500 (with only one such fee payable in connection with the simultaneous
      assignments to or by two or more Approved Funds that are administered or managed
      by the same entity or affiliated entities); and

    

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

    

    

    

    For
      the
      purposes of this Section 10.6, the term “Approved Fund” has the following
      meaning:

    

    “Approved
      Fund”
means
      any Person (other than a natural person) that is engaged in making, purchasing,
      holding or investing in bank loans and similar extensions of credit in the
      ordinary course of its business and that is administered or managed by (a)
      a
      Lender, (b) an affiliate of a Lender or (c) an entity or an affiliate of an
      entity that administers or manages a Lender.

    

    (iii)
      Subject to acceptance and recording thereof pursuant to paragraph (b)(iv)
      below, from and after the effective date specified in each Assignment and
      Assumption the Assignee thereunder shall be a party hereto and, to the extent
      of
      the interest assigned by such Assignment and Assumption, have the rights and
      obligations of a Lender under this Agreement, and the assigning Lender
      thereunder shall, to the extent of the interest assigned by such Assignment
      and
      Assumption, be released from its obliga-tions under this Agreement (and, in
      the
      case of an Assignment and Assumption covering all of the assigning Lender’s
      rights and obligations under this Agreement, such Lender shall cease to be
      a
      party hereto but shall continue to be entitled to the benefits of
      Sections 2.19, 2.20, 2.21 and 10.5). Any assignment or transfer by a Lender
      of rights or obligations under this Agreement that does not comply with this
      Section 10.6 shall be treated for purposes of this Agreement as a sale by such
      Lender of a participation in such rights and obligations in accordance with
      paragraph (c) of this Section 10.6.

    

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

    

    (v)
      Upon
      its receipt of a duly completed Assignment and Assumption executed by an
      assigning Lender and an Assignee, the Assignee’s completed administrative
      questionnaire (unless the Assignee shall already be a Lender hereunder), the
      processing and recordation fee referred to in paragraph (b) of this Section
      10.6 and any written consent to such assignment required by paragraph (b) of
      this Section 10.6, the Administrative Agent shall accept such Assignment and
      Assumption and record the information contained therein in the Register. No
      assignment shall be effective for purposes of this Agreement unless it has
      been
      recorded in the Register as provided in this paragraph.

     

    
 

    
      
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    (c) (i)
      Any
      Lender may, without the consent of the Parent Borrower or the Administrative
      Agent, sell participations to one or more banks or other entities (a
“Participant”)
      in all
      or a portion of such Lender’s rights and obligations under this Agreement
      (including all or a portion of its Commitments and the Loans owing to it);
      provided
      that
      (A) such Lender’s obligations under this Agreement shall remain unchanged,
      (B) such Lender shall remain solely responsible to the other parties hereto
      for the performance of such obligations and (C) the Parent Borrower, the
      Administrative Agent, the Issuing Lender and the other Lenders shall continue
      to
      deal solely and directly with such Lender in connection
      with such Lender’s rights and obligations under this Agreement. Any agreement
      pursuant to which a Lender sells such a participation shall provide that such
      Lender shall retain the sole right to enforce this Agreement and to approve
      any
      amendment, modification or waiver of any provision of this Agreement;
provided
      that
      such agreement may provide that such Lender will not, without the consent of
      the
      Participant, agree to any amendment, modification or waiver that (1) requires
      the consent of each Lender directly affected thereby pursuant to the proviso
      to
      the second sentence of Section 10.1 and (2) directly affects such Participant.
      Subject to paragraph (c)(ii) of this Section 10.6, the Parent Borrower agrees
      that each Participant shall be entitled to the benefits of Sections 2.19, 2.20
      and 2.21 to the same extent as if it were a Lender and had acquired its interest
      by assignment pursuant to paragraph (b) of this Section 10.6, but to no greater
      extent than such Lender. To the extent permitted by law, each Participant also
      shall be entitled to the benefits of Section 10.7(b) as though it were a
      Lender, but to no greater extent than such Lender, provided
      such
      Participant shall be subject to Section 10.7(a) as though it were a
      Lender.

    

    (ii)
      A
      Participant shall not be entitled to receive any greater payment under Sections
      2.19 or 2.20 than the applicable Lender would have been entitled to receive
      with
      respect to the participation sold to such Participant, unless the sale of the
      participation to such Participant is made with the Parent Borrower’s prior
      written consent. Any Participant that is a Non-U.S. Lender shall not be entitled
      to the benefits of Section 2.20 unless such Participant complies with
      Section 2.20(d). 

    

    (d)  Any
      Lender may at any time pledge or assign a security interest in all or any
      portion of its rights under this Agreement to secure obligations of such Lender,
      including any pledge or assignment to secure obligations to a Federal Reserve
      Bank, and this Section 10.6 shall not apply to any such pledge or assignment
      of
      a security interest; provided
      that no
      such pledge or assignment of a security interest shall release a Lender from
      any
      of its obligations hereunder or substitute any such pledgee or Assignee for
      such
      Lender as a party hereto.

    

    (e)
      The
      Borrower, upon receipt of written notice from the relevant Lender, agrees to
      issue Notes to any Lender requiring Notes to facilitate transactions of the
      type
      described in paragraph (d) above.

    

    SECTION
      10.7   Adjustments;
      Set-off.
      (a)   Except to the extent that this Agreement provides for payments
      to be allocated to the Lenders under a particular Facility, if any Lender (a
      “Benefitted
      Lender”)
      shall
      at any time receive any payment of all or part of its Loans or the Reimbursement
      Obligations owing to it, or interest thereon, or receive any collateral in
      respect thereof (whether voluntarily or involuntarily, by set-off, pursuant
      to
      events or proceedings of the nature referred to in Section 8(f), or otherwise),
      in a greater proportion than any such payment to or collateral received by
      any
      other Lender, if any, in respect of such other Lender’s Loans or the
      Reimbursement Obligations owing to such other Lender, or interest thereon,
      such
      Benefitted Lender shall purchase for cash from the other Lenders a participating
      interest in such portion of each such other Lender’s Loan and/or of the
      Reimbursement Obligations owing to each such other Lender, or shall provide
      such
      other Lenders with the benefits of any such collateral, or the proceeds thereof,
      as shall be necessary to cause such Benefitted Lender to share the excess
      payment or benefits of such collateral or proceeds ratably with each of the
      Lenders; provided,
      however,
      that if
      all or any portion of such excess payment or benefits is thereafter

     

     

    
      
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     recovered
      from such Benefitted Lender, such purchase shall be rescinded, and the purchase
      price and benefits returned, to the extent of such recovery, but without
      interest.

     

    (b)  
      In addition to any rights and remedies of the Lenders provided by law, each
      Lender shall have the right, without prior notice to the Borrowers, any such
      notice being expressly waived by the Borrowers to the extent permitted by
      applicable law, upon any amount becoming due and payable by any Borrower
      hereunder (whether at the stated maturity, by acceleration or otherwise) to
      set
      off and appropriate and apply against such amount any and all deposits (general
      or special, time or demand, provisional
      or final), in any currency, and any other credits, indebtedness or claims,
      in
      any currency, in each case whether direct or indirect, absolute or contingent,
      matured or unmatured, at any time held or owing by such Lender or any branch
      or
      agency thereof to or for the credit or the account of the Parent Borrower.
      Each
      Lender agrees promptly to notify the respective Borrower and the Administrative
      Agent after any such setoff and application made by such Lender, provided
      that the
      failure to give such notice shall not affect the validity of such setoff and
      application.

     

    SECTION
      10.8   Counterparts.
      This
      Agreement may be executed by one or more of the parties to this Agreement on
      any
      number of separate counterparts, and all of said counterparts taken together
      shall be deemed to constitute one and the same instrument. Delivery of an
      executed signature page of this Agreement by facsimile transmission shall be
      as
      effective as delivery of a manually executed counterpart hereof. A set of the
      copies of this Agreement signed by all the parties shall be lodged with the
      Parent Borrower and the Administrative Agent.

     

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

     

    SECTION
      10.10   Integration.
      This
      Agreement and the other Loan Documents represent the agreement of the Borrowers,
      the Administrative Agent and the Lenders with respect to the subject matter
      hereof, and there are no promises, undertakings, representations or warranties
      by the Administrative Agent or any Lender relative to subject matter hereof
      not
      expressly set forth or referred to herein or in the other Loan
      Documents.

     

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

     

    SECTION
      10.12   Submission
      To Jurisdiction; Waivers.
      Each
      Borrower hereby irrevocably and unconditionally:

     

    (a) submits
      for itself and its Property in any legal action or proceeding relating to this
      Agreement and the other Loan Documents to which it is a party, or for
      recognition and enforcement of any judgment in respect thereof, to the
      non-exclusive general jurisdiction of the courts of the State of New York,
      the
      courts of the United States for the Southern District of New York, and
      appellate courts from any thereof;

     

    (b) consents
      that any such action or proceeding may be brought in such courts and waives
      any
      objection that it may now or hereafter have to the venue of any such action
      or
      proceeding in any such court or that such action or 

    
      
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    proceeding
      was brought in an inconvenient court and agrees not to plead or claim the same;
      
       

      (c) agrees
        that service of process in any such action or
        proceeding may be effected by mailing a copy thereof by registered or certified
        mail (or any substantially similar form of mail), postage prepaid at its
        address
        set forth in Section 10.2 or at such other address of which the Administrative
        Agent shall have been notified pursuant thereto;

    (d) agrees
      that nothing herein shall affect the right to effect service of process in
      any
      other manner permitted by law or shall limit the right to sue in any other
      jurisdiction; and

     

    (e) waives,
      to the maximum extent not prohibited by law, any right it may have to claim
      or
      recover in any legal action or proceeding referred to in this Section 10.12
      any
      special, exemplary, punitive or consequential damages.

     

    SECTION
      10.13   Acknowledgements.
      Each
      Borrower hereby acknowledges that:

     

    (a) it
      has
      been advised by counsel in the negotiation, execution and delivery of this
      Agreement and the other Loan Documents;

     

    (b) neither
      the Administrative Agent nor any Lender has any fiduciary relationship with
      or
      duty to any Borrower arising out of or in connection with this Agreement or
      any
      of the other Loan Documents, and the relationship between the Administrative
      Agent and Lenders, on one hand, and the Borrowers, on the other hand, in
      connection herewith or therewith is solely that of debtor and creditor;
      and

     

    (c) no
      joint
      venture is created hereby or by the other Loan Documents or otherwise exists
      by
      virtue of the transactions contemplated hereby among the Lenders or among the
      Borrowers and the Lenders.

     

    SECTION
      10.14   WAIVERS
      OF JURY TRIAL.
      EACH BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY
      AND
      UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING
      TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM
      THEREIN.

     

    SECTION
      10.15   USA
      Patriot Act.
      Each
      Lender hereby notifies the Borrowers that pursuant to the requirements of the
      USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)
      (the “Act”), it is required to obtain, verify and record information that
      identifies each Borrower, which information includes the name and address of
      such Borrower and other information that will allow such Lender to identify
      such
      Borrower in accordance with the Act.

     

    SECTION
      10.16   Confidentiality.
      The Administrative Agent and each Lender agrees to keep confidential all
      non-public information provided to it by any Loan Party pursuant to this
      Agreement that is designated by such Loan Party as confidential; provided
      that
      nothing herein shall prevent the Administrative Agent or any Lender from
      disclosing any such information (i) to the Administrative Agent, any other
      Lender or any affiliate of any Lender in each case which is bound by this
      Section 10.15, (ii) to any Participant or Assignee (each, a “Transferee”)
      or
      prospective Transferee which agrees to comply with the provisions of this
      Section 10.15, (iii) to the employees, directors, agents, attorneys, accountants
      and other professional advisors of such Lender or its affiliates, (iv) upon
      the
      request or demand of any Governmental Authority having jurisdiction over the
      Administrative Agent or such

    
      
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     Lender,
      (v) in response to any order of any court or other Governmental Authority or
      as
      may otherwise be required pursuant to any Requirement of Law, (vi) if required
      to do so under applicable law in connection with any litigation or similar
      proceeding or in litigation to enforce this Agreement, (vii) which has been
      publicly disclosed other than in breach of this Section 10.15, (viii) to the
      National Association of Insurance Commissioners or any similar organization
      or
      any nationally recognized rating agency that requires access to information
      about a Lender’s investment portfolio in connection with ratings issued with
      respect to such Lender, or (ix) in connection with the exercise of any remedy
      hereunder or under any other Loan Document; provided
      that, if
      reasonably requested by the Parent Borrower, the Administrative Agent and
      the Lenders shall make commercially reasonable efforts to determine, and inform
      the Parent Borrower of, the Persons who received such non-public information
      designated as confidential.

     

    Each
      Lender acknowledges that information furnished to it pursuant to this Agreement
      may include material non-public information concerning the Parent Borrower
      and
      its Affiliates and their related parties or their respective securities, and
      confirms that it has developed compliance procedures regarding the use of
      material non-public information and that it will handle such material non-public
      information in accordance with those procedures and applicable law, including
      Federal and state securities laws.

     

    All
      information, including requests for waivers and amendments, furnished by the
      Parent Borrower or the Administrative Agent pursuant to, or in the course of
      administering, this Agreement will be syndicate-level information, which may
      contain material non-public information about the Parent Borrower and its
      Affiliates and their related parties or their respective securities.
      Accordingly, each Lender represents to the Parent Borrower and the
      Administrative Agent that it has identified in its administrative questionnaire
      a credit contact who may receive information that may contain material
      non-public information in accordance with its compliance procedures and
      applicable law.

     

    SECTION
      10.17   Releases.
      (a)
      Notwithstanding anything to the contrary contained herein or in any other Loan
      Document, the Administrative Agent is hereby irrevocably authorized by each
      Lender (without requirement of notice to or consent of any Lender except as
      expressly required by Section 10.1) to take any action requested by the Parent
      Borrower having the effect of releasing any Collateral or guarantee obligations
      (i) to the extent necessary to permit consummation of any transaction not
      prohibited by any Loan Document or that has been consented to in accordance
      with
      Section 10.1 or (ii) under the circumstances described in paragraph (b)
      below.

     

    (b) At
      such
      time as the Loans, the Reimbursement Obligations and the other Obligations
      shall
      have been paid in full, the Commitments have been terminated and no Letters
      of
      Credit shall be outstanding, the Collateral shall be released from the Liens
      created by the Security Documents, and the Security Documents and all
      obligations (other than those expressly stated to survive such termination)
      of
      the Administrative Agent and the Parent Borrower or Subsidiary thereunder shall
      terminate, all without delivery of any instrument or performance of any act
      by
      any party, and all rights to the Collateral shall revert to the Parent Borrower
      and Subsidiaries. At the request and sole expense of any Borrower or Subsidiary
      following any such termination, the Administrative Agent shall deliver to the
      Parent Borrower or Subsidiary any Collateral held by the Administrative Agent
      thereunder, and execute and deliver to the Parent Borrower or Subsidiary such
      documents as the Parent Borrower or Subsidiary shall reasonably request to
      evidence such termination.

     

    SECTION
      10.18   Delivery
      of Addenda.
      Each
      existing Lender shall consent to the amendment and restatement of the Previous
      Credit Agreement effected hereby, and each initial Lender shall become a party
      to this Agreement, by delivering to the Administrative Agent an Addendum duly
      executed by such Lender.

     

     

     

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

     

    
      	 	
              CONMED
                CORPORATION

            
	 	 
	 	 
	 	
              By:
                /s/
                Luke A. Pomilio

              Name:
                Luke A. Pomilio

              Title:
                Vice President - Corporate
                Controller

            

    

    
      
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              JPMORGAN
                CHASE BANK, N.A. as

              Administrative
                Agent and as a Lender

            
	 	 
	 	 
	 	
              By:
                /s/
                Frederick Miller

              Name:
                Frederick Miller

              Title:
                Vice President

            

    

     

     

     

     

     

     

    Back
      to Table of
      ContentsExhibit 10.7

                          REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made and entered
into as of August 1, 2005 by and among Noble Roman's, Inc., an Indiana
corporation (the "Company"), and SummitBridge National Investments, LLC, a
Delaware limited liability company (the "Investor"). Capitalized terms used
herein but not otherwise defined shall have the meanings ascribed to such terms
in Section 1.

     1. Definitions. As used herein, the following terms shall have the
following meanings.

     "Common Stock" means, collectively, (i) the Common Stock of the Company,
and (ii) any other equity securities of the Company issued or issuable with
respect to the Common Stock described in the preceding clause (i) by way of a
stock dividend or stock split or in connection with a combination of stock,
recapitalization, merger, consolidation or other reorganization.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the SEC promulgated thereunder.

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

     "Registrable Securities" means 2,400,000 shares of Common Stock owned by
the Investor (plus any shares of Common Stock acquired by, or issued or issuable
to the Investor in respect of such Common Stock) or any other Person who becomes
a holder of such Common Stock and to whom registration rights under this
Agreement are assigned pursuant to Section 10(d) below. For purposes of this
Agreement, a Person will be deemed to be a holder of Registrable Securities
whenever such Person has the right to acquire directly or indirectly such
Registrable Securities (in connection with a transfer of securities or
otherwise), whether or not such acquisition has actually been effected. Such
Common Stock will cease to be Registrable Securities when sold (i) pursuant to a
registration statement under the Securities Act, or (ii) in a transaction
pursuant to Rule 144.

     "Registration Expenses" means all expenses incident to the Company's
performance of or compliance with this Agreement, including without limitation,
all registration and filing fees, fees and expenses of compliance with
securities or blue sky laws, printing expenses, messenger and delivery expenses
and fees and disbursements of counsel and independent certified public
accountants for the Company, but specifically excluding any fees or expenses of
underwriters or counsel for the holders of any Registrable Securities.

     "Registration Period" means the period beginning on the later of (i)
October 31, 2005 and (ii) the expiration of the "Stand Still Period," as such
term is defined in that certain Settlement Agreement dated as of August 1, 2005,
by and among the Company, the Investor and certain parties related to them, and
ending on October 31, 2006.

<PAGE>

     "Rule 144" means Rule 144 under the Securities Act (or any similar rule
then in force).

     "Securities Act" means the Securities Act of 1933, as amended, and the
rules and regulations of the SEC promulgated thereunder.

     2. Demand Registrations.

     (a) Requests for Registration. Subject to the provisions of this Section 2,
at any time during the Registration Period, the holders of a majority of the
Registrable Securities may request registration under the Securities Act of all
or any portion of their Registrable Securities on such form as may be
appropriate, which may be a Form S-1 or any similar long-form registration or a
Form S-3 or any similar short-form registration, if available. All registrations
requested pursuant to this Section 2(a) are referred to herein as "Demand
Registrations". Each request for a Demand Registration shall specify the number
of Registrable Securities requested to be registered, the anticipated method or
methods of distribution (which may be a shelf registration for open market or
privately negotiated transactions, an underwritten public offering or other
manner of distribution) and the anticipated per share price range for such
offering.

     (b) Limitations on Demand Registrations. The holder(s) of the Registrable
Securities will be entitled to request one (1) Demand Registration, for which
the Company will pay all Registration Expenses. A registration will not count as
the permitted Demand Registration until it has become effective and remained
effective for at least 90 days (including any period during which a
post-effective amendment is effective), except that if the registration
statement relates to open market and privately negotiated transactions (and does
not provide for an underwritten offering), the registration statement shall have
remained effective for at least 180 days; provided, however, that the holders of
Registrable Securities making a request for a Demand Registration hereunder may
withdraw from such registration at any time prior to the effective date of such
Demand Registration, in which case such request will count as a Demand
Registration for such holder, irrespective of whether or not such registration
is effected, unless the requesting holder(s) reimburse the Company for all
expenses incurred in connection with such withdrawn registration.

     (c) Priority on Demand Registrations. The Company will not include in any
Demand Registration any securities which are not Registrable Securities without
the prior written consent of the holders of a majority of the Registrable
Securities included in such registration. If a Demand Registration is an
underwritten offering and the managing underwriters advise the Company in
writing that in their opinion the number of Registrable Securities and, if
permitted hereunder, other securities requested to be included in such offering
exceeds the number of Registrable Securities and other securities, if any, which
can be sold therein without adversely affecting the marketability of the
offering, the Company will include in such registration, (i) first, the number
of Registrable Securities requested to be included in such registration by the
holders of Registrable Securities, pro rata among the holders of such
Registrable Securities on the basis of the number of Registrable Securities
owned by each such holder, and (ii) second, any other securities of the Company
requested to be included in such registration, pro rata among the respective
holders thereof on the basis of the number of shares owned by each such holder.

                                       2
<PAGE>

     (d) Selection of Underwriters. In the case of a Demand Registration, the
holders of a majority of the Registrable Securities will have the right to
select the investment banker(s) and manager(s) to administer the offering,
subject to the approval of the Company which shall not be unreasonably withheld.

     (e) Other Registration Rights. Except as provided in this Agreement, prior
to the expiration of the Registration Period, the Company will not grant to any
Persons the right to request the Company to register any equity securities of
the Company, without the prior written consent of a majority of the holders of
the Registrable Securities.

     3. Holdback Agreements.

     (a) Each holder of Registrable Securities agrees not to effect any public
sale or distribution (including sales pursuant to Rule 144) of equity securities
of the Company, or any securities convertible into or exchangeable or
exercisable for such securities, during the seven days prior to and the 180-day
period beginning on the date of the final prospectus relating to any Demand
Registration (except as part of such registration), unless the underwriters
managing the registered public offering otherwise agree to a shorter period.

     (b) The Company (i) will not effect any sale or distribution of equity
securities, or any securities convertible into or exchangeable or exercisable
for such securities, during the seven days prior to and during the 180-day
period beginning on the effective date of any underwritten Demand Registration
(except as part of such underwritten registration), unless the underwriters
managing the registered offering otherwise agree, and (ii) will use commercially
reasonable efforts to cause each of its directors, officer and holders of more
than 5.0% of the Company's outstanding Common Stock or any securities
convertible into or exchangeable or exercisable for Common Stock to agree not to
effect any sale or distribution (including sales pursuant to Rule 144) of any
such securities during such period (except as part of such offering, if
otherwise permitted), unless the underwriters managing such offering otherwise
agree. Notwithstanding the foregoing, the Company may at any time grant stock
options and issue shares of common stock upon the exercise of presently
outstanding stock options or options granted after the date hereof.

     4. Registration Procedures. Whenever the holders of Registrable Securities
have requested that any Registrable Securities be registered pursuant to this
Agreement, the Company will use its commercially reasonable efforts to effect
the registration and the sale of such Registrable Securities in accordance with
the intended method of disposition thereof, and pursuant thereto the Company
will as expeditiously as possible:

     (a) prepare and file with the Securities and Exchange Commission (the
"SEC") a registration statement with respect to such Registrable Securities and
use its commercially reasonable efforts to cause such registration statement to
become effective (provided that before filing a registration statement or
prospectus or any amendments or supplements thereto, the Company will furnish to
one counsel selected by the holders of a majority of the Registrable Securities
covered by such registration statement copies of all such documents proposed to
be filed and provide such counsel with an opportunity to comment on such
documents);

     (b) prepare and file with the SEC such amendments and supplements to such
registration statement and the prospectus used in connection therewith as may be
necessary to keep such registration statement effective for such period which

                                       3
<PAGE>

will terminate upon the earlier to occur of such time when all Registrable
Securities covered by the registration statement have been sold or the
registration statement has been effective for 90 days (provided, however, that
such 90 day period shall be 180 days if the registration statement relates to
open market and privately negotiated transactions ^and does not provide for an
underwritten offering^), and to otherwise comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such
registration statement during such period in accordance with the intended
methods of disposition by the sellers thereof set forth in such registration
statement;

     (c) furnish to each seller of Registrable Securities such number of copies
of such registration statement, each amendment and supplement thereto, the
prospectus included in such registration statement (including each preliminary
prospectus) and such other documents as such seller may reasonably request in
order to facilitate the disposition of the Registrable Securities owned by such
seller;

     (d) use its best efforts to register or qualify such Registrable Securities
under such other securities or blue sky laws of such jurisdictions as any seller
reasonably requests and do any and all other acts and things which may be
reasonably necessary or advisable to enable such seller to consummate the
disposition in such jurisdictions of the Registrable Securities owned by such
seller (provided that the Company will not be required to (i) qualify generally
to do business in any jurisdiction where it would not otherwise be required to
qualify but for this subsection, (ii) subject itself to taxation in any such
jurisdiction, (iii) consent to general service of process (i.e., service of
process which is not limited solely to securities law matters) in any such
jurisdiction, or (iv) incur unreasonable effort or expense);

     (e) notify each seller of such Registrable Securities, at any time when a
prospectus relating thereto is required to be delivered under the Securities
Act, of the happening of any event as a result of which the prospectus included
in such registration statement contains an untrue statement of a material fact
or omits any fact necessary to make the statements therein not misleading, and,
at the request of any such seller, the Company will promptly prepare a
supplement or amendment to such prospectus so that, as thereafter delivered to
the purchasers of such Registrable Securities, such prospectus will not contain
an untrue statement of a material fact or omit to state any fact necessary to
make the statements therein not misleading;

     (f) cause all such Registrable Securities to be listed on each securities
exchange or nationally recognized quotation system on which similar securities
issued by the Company are then listed;

     (g) provide a transfer agent and registrar for all such Registrable
Securities not later than the effective date of such registration statement;

     (h) enter into such customary agreements (including underwriting agreements
in customary form) and take all such other actions as the holders of a majority
of the Registrable Securities being sold or the underwriters, if any, reasonably
request in order to expedite or facilitate the disposition of such Registrable
Securities (including, without limitation, preparing and participating in
customary and reasonable "road show" presentations to institutional investors);

                                       4
<PAGE>

     (i) make available at reasonable times for inspection by any seller of
Registrable Securities, any underwriter participating in any disposition
pursuant to such registration statement and any attorney, accountant or other
agent retained by any such seller or underwriter, all financial and other
records, pertinent corporate documents and properties of the Company, and cause
the Company's officers, directors, employees and independent accountants to
supply all information reasonably requested by any such seller, underwriter,
attorney, accountant or agent in connection with such registration statement,
subject to the applicable person(s) executing a nondisclosure agreement in
reasonable form and substance if reasonably required by the Company;

     (j) otherwise comply with all applicable rules and regulations of the
Securities and Exchange Commission, and make available to its security holders,
as soon as reasonably practicable, an earning statement covering the period of
at least twelve months beginning with the first day of the Company's first full
calendar quarter after the effective date of the registration statement, which
earning statement shall satisfy the provisions of Section 11(a) of the
Securities Act and Rule 158 thereunder;

     (k) permit any holder of Registrable Securities which holder, in its sole
and exclusive judgment, might be deemed to be an underwriter or a controlling
person of the Company, to participate in the preparation of such registration or
comparable statement and consider the insertion therein of material, furnished
to the Company in writing, which in the reasonable judgment of such holder and
its counsel should be included;

     (l) use best efforts to prevent the issuance of any stop order ("Stop
Order") suspending the effectiveness of a registration statement, or of any
order suspending or preventing the use of any related prospectus or suspending
the qualification of any securities included in such registration statement for
sale in any jurisdiction, and, in the event of such issuance, the Company shall
immediately notify the holders of Registrable Securities included in such
registration statement of the receipt by the Company of such notification and
shall use its best efforts promptly to obtain the withdrawal of such order;

     (m) use its best efforts to cause such Registrable Securities covered by
such registration statement to be registered with or approved by such other
governmental agencies or authorities as may be necessary to enable the sellers
thereof to consummate the disposition of such Registrable Securities; and

     (n) obtain a "cold comfort" letter from the Company's independent public
accountants in customary form and covering such matters of the type customarily
covered by "cold comfort" letters as the holders of a majority of the
Registrable Securities being sold reasonably request.

If any such registration or comparable statement refers to any holder by name or
otherwise as the holder of any securities of the Company and if, in its sole and
exclusive judgment, such holder is or might be deemed to be a controlling person
of the Company, such holder shall have the right to require (i) the insertion
therein of language, in form and substance satisfactory to such holder and
presented to the Company in writing, to the effect that the holding by such
holder of such securities is not to be construed as a recommendation by such
holder of the investment quality of the Company's securities covered thereby and

                                       5
<PAGE>

that such holding does not imply that such holder will assist in meeting any
future financial requirements of the Company, or (ii) in the event that such
reference to such holder by name or otherwise is not required by the Securities
Act or any similar Federal statute then in force, the deletion of the reference
to such holder; provided, that with respect to this clause (ii) such holder
shall furnish to the Company a written opinion of counsel to such effect, which
opinion and counsel shall be reasonably satisfactory to the Company.

     5. Registration Expenses. All Registration Expenses will be borne by the
Company. The holders of Registrable Securities shall bear all expenses incurred
by them in connection with any offer or sale of the Registrable Securities.

     6. Indemnification.

     (a) The Company agrees to indemnify, to the extent permitted by law, each
holder of Registrable Securities, its partners, members, officers and directors
and each Person who controls such holder (within the meaning of the Securities
Act) against all losses, claims, damages, liabilities and expenses arising out
of or based upon any untrue or alleged untrue statement of material fact
contained in any registration statement, prospectus or preliminary prospectus or
any amendment thereof or supplement thereto or any omission or alleged omission
of a material fact required to be stated therein or necessary to make the
statements therein not misleading, and shall reimburse such holder, partner,
member, director, officer or controlling person for any legal or other expenses
reasonably incurred by such holder, partner, member, director, officer or
controlling person in connection with the investigation or defense of such loss,
claim, damage, liability or expense, except insofar as the same are caused by or
contained in any information furnished in writing to the Company by such holder
expressly for use therein or by such holder's failure to deliver a copy of the
registration statement or prospectus or any amendments or supplements thereto
after the Company has furnished such holder with a sufficient number of copies
of the same. In connection with an underwritten offering, the Company will
indemnify such underwriters, their officers and directors and each Person who
controls such underwriters (within the meaning of the Securities Act) to the
same extent as provided above with respect to the indemnification of the holders
of Registrable Securities.

     (b) In connection with any registration statement in which a holder of
Registrable Securities is participating, each such holder will furnish to the
Company in writing such information and affidavits as the Company reasonably
requests for use in connection with any such registration statement or
prospectus and, to the extent permitted by law, will (i) indemnify the Company,
its directors and officers and each Person who controls the Company (within the
meaning of the Securities Act) or who signs a registration statement filed
pursuant hereto, against any losses, claims, damages, liabilities and expenses
resulting from any untrue or alleged untrue statement of material fact relating
to such holder and provided by such holder to the Company or the Company's agent
contained in the registration statement, prospectus or preliminary prospectus or
any amendment thereof or supplement thereto or any omission or alleged omission
of a material fact required to be stated therein or necessary to make the
statements therein not misleading, but only to the extent that such untrue
statement or omission is contained in, or based upon, any information or
affidavit so furnished in writing by such holder or such holder's
representative; provided, that the obligation to indemnify will be individual to

                                       6
<PAGE>

each holder and will be limited to the net amount of proceeds received by such
holder from the sale of Registrable Securities pursuant to such registration
statement, and (ii) reimburse the Company, its directors and officers and each
Person who controls the Company (within the meaning of the Securities Act) for
any legal or other expenses reasonably incurred by such Persons in connection
with the investigation or defense of such loss, claim, damage, liability or
expense, except insofar as the same are caused by or contained in any
information furnished to such holder of Registrable Securities expressly for use
therein. In connection with an underwritten offering in which a holder of
Registrable Securities is participating, each such holder will indemnify such
underwriters, their officers and directors and each Person who controls such
underwriters (within the meaning of the Securities Act) to the same extent as
provided above with respect to the indemnification of the Company, its directors
and officers and each Person who controls the Company (within the meaning of the
Securities Act) or who signs the registration statement.

     (c) Any Person entitled to indemnification hereunder will (i) give prompt
written notice to the indemnifying party of any claim with respect to which it
seeks indemnification (provided that failure to give such notice shall not
affect the right of such Person to indemnification hereunder unless such failure
is prejudicial to the indemnifying party's ability to defend such claim) and
(ii) unless in such indemnified party's reasonable judgment a conflict of
interest between such indemnified and indemnifying parties may exist with
respect to such claim, permit such indemnifying party to assume the defense of
such claim with counsel reasonably satisfactory to the indemnified party. An
indemnifying party who is not entitled to, or elects not to, assume the defense
of a claim will not be obligated to pay the fees and expenses of more than one
counsel for all parties indemnified by such indemnifying party with respect to
such claim, unless in the reasonable judgment of any indemnified party a
conflict of interest may exist between such indemnified party and any other of
such indemnified parties with respect to such claim.

     (d) The indemnification provided for under this Agreement will remain in
full force and effect regardless of any investigation made by or on behalf of
the indemnified party or any officer, director or controlling Person of such
indemnified party and will survive the transfer of securities. The Company and
each holder also agree to make such provisions, as are reasonably requested by
any indemnified party, for contribution to such party in the event the
indemnification provided for herein is unavailable for any reason.

     (e) Notwithstanding the foregoing, to the extent that the provisions on
indemnification and contribution contained in the underwriting agreement entered
into in connection with an underwritten public offering conflict with the
foregoing provisions, the provisions in the underwriting agreement shall
control.

     7. Holders' Obligations.

     (a) No Person may participate in any registration hereunder which is
underwritten unless such Person (i) agrees to sell such Person's securities on
the basis provided in any underwriting arrangement approved by the Person or
Persons entitled hereunder to approve such arrangements and (ii) completes and
executes all customary questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms
of such underwriting arrangements; provided, that no holder of Registrable

                                       7
<PAGE>

Securities included in any underwritten registration shall be required to make
any representations or warranties to the Company or the underwriters other than
representations and warranties regarding such holder and such holder's intended
method of distribution.

     (b) Upon receipt of notification described in Section 4(e), the holder(s)
participating in an offering shall immediately cease offering or selling any
Registrable Securities and shall not resume such offers or sales until the
Company consents thereto and, thereafter, any offers or sales will be made only
by means of an amended or supplemented prospectus furnished by the Company.

     8. Rule 144 Reporting. With a view to making available to the holders of
Registrable Securities the benefits of certain rules and regulations of the SEC
which may permit the sale of the Registrable Securities to the public without
registration, the Company agrees to use commercially reasonable efforts to:

     (a) make and keep current public information available, within the meaning
of Rule 144 or any similar or analogous rule promulgated under the Securities
Act, at all times after it has become subject to the reporting requirements of
the Exchange Act;

     (b) file with the SEC, in a timely manner, all reports and other documents
required of the Company under the Securities Act and Exchange Act; and

     (c) so long as any party hereto owns any Registrable Securities which may
not be resold under Rule 144(k), furnish to such Person forthwith upon request,
a written statement by the Company as to its compliance with the reporting
requirements of said Rule 144, the Securities Act and the Exchange Act; a copy
of the most recent annual or quarterly report of the Company; and such other
reports and documents as such Person may reasonably request in availing itself
of any rule or regulation of the SEC allowing it to sell any such Registrable
Securities without registration.

     9. Notices. All notices, demands or other communications to be given or
delivered under or by reason of the provisions of this Agreement will be in
writing and will be deemed to have been given when delivered personally, sent
via a nationally recognized overnight courier or sent via facsimile to the
recipient. Such notices, demands and other communications will be sent to the
address indicated below:

                  If to the Company:

                  Noble Roman's Inc.
                  One Virginia Avenue, Suite 800
                  Indianapolis, Indiana 46204
                  Attention:  President

                                       8
<PAGE>

                  With a copy to:

                  Thomas A. Litz, Esq.
                  Thompson Coburn LLP
                  One US Bank Plaza
                  St. Louis, MO 63101-1611

                  If to Investor:

                  Senior Asset Manager
                  Summit National Investments LLC
                  Well Fargo Building, Suite 2150
                  Denver CO 80203

or such other address or to the attention of such other Person as the recipient
party shall have specified by prior written notice to the sending party.

     10. Miscellaneous.

     (a) No Inconsistent Agreements. Prior to the end of the Registration
Period, the Company will not enter into any agreement which is inconsistent with
or violates the rights granted to the holders of Registrable Securities in this
Agreement.

     (b) Remedies. Any Person having rights under any provision of this
Agreement will be entitled to enforce such rights specifically to recover
damages caused by reason of any breach of any provision of this Agreement and to
exercise all other rights granted by law.

     (c) Amendments and Waivers. Except as otherwise provided herein, the
provisions of this Agreement may be amended or waived only upon the prior
written consent of the Company and the holders of at least a majority of the
Registrable Securities; provided that no amendment or waiver shall materially
and adversely affect the rights hereunder of any of the parties hereto when
compared with its effect on the other similarly-situated parties hereto without
the prior written approval of such materially and adversely affected party.

     (d) Successors and Assigns. All covenants and agreements in this Agreement
by or on behalf of any of the parties hereto will bind and inure to the benefit
of the respective successors and assigns of the parties hereto whether so
expressed or not. Notwithstanding the foregoing to the contrary, the provisions
of this Agreement which are for the benefit of purchasers or holders of
Registrable Securities may be assigned to one or more subsequent holders of
Registrable Securities only if: (i) such assignee acquires at least 480,000
shares of Registrable Securities; and (ii) and the Company receives written
notice of such assignment, including the name and address of the assignee,
within 30 days thereof.

     (e) Severability. Whenever possible, each provision of this Agreement will
be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Agreement is held to be prohibited by or invalid
under applicable law, such provision will be ineffective only to the extent of

                                       9
<PAGE>

such prohibition or invalidity, without invalidating the remainder of this
Agreement.

     (f) Counterparts. This Agreement may be executed simultaneously in two or
more counterparts, any one of which need not contain the signatures of more than
one party, but all such counterparts taken together will constitute one and the
same Agreement.

     (g) Governing law. All questions concerning the construction, validity and
interpretation of this agreement shall be governed by and construed in
accordance with the domestic laws of the State of Indiana, without giving effect
to any choice of law or conflict of law provision or rule (whether of the State
of Indiana or any other jurisdiction) that would cause the application of the
laws of any jurisdiction other than the State of Indiana.

     (h) Time is of the Essence; Computation of Time. Time is of the essence for
each and every provision of this Agreement. Whenever the last day for the
exercise of any privilege or the discharge of any duty hereunder shall fall upon
a Saturday, Sunday, or any date on which banks in New York, New York are
authorized to be closed, the party having such privilege or duty may exercise
such privilege or discharge such duty on the next succeeding day which is a
regular business day.

     (i) Descriptive Headings. The descriptive headings of this Agreement are
inserted for convenience only and do not constitute a part of this Agreement.

     (j) Termination. This Agreement shall terminate at such time as neither the
Investor nor any Person who holds Registrable Securities as a transferee of
Investor (or as a transferee of any transferee) holds five percent (5.0%) or
more than of the common stock of the Company outstanding, based on the Company's
most recent periodic report filed under the Exchange Act.

                                    * * * * *

                                       10
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Registration
Rights Agreement as of the date first above written.

                                       NOBLE ROMAN'S, INC.

                                       By: __________________________________
                                       Name: ________________________________
                                       Title: _______________________________

                                       SUMMITBRIDGE NATIONAL INVESTMENTS LLC

                                       By: __________________________________
                                       Name: ________________________________
                                       Title: _______________________________

                                       11

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