Document:

exv4w1

Exhibit 4.1

	 	 	 	 	 

      

Published CUSIP Number: 90224VAA0

CREDIT AGREEMENT

Dated as of August 11, 2010

among

TYLER TECHNOLOGIES, INC.,

as the Borrower,

THE SUBSIDIARIES OF THE BORROWER IDENTIFIED HEREIN,

as the Guarantors,

BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender and L/C Issuer,

and

THE OTHER LENDERS PARTY HERETO

with

BBVA COMPASS BANK,

BANK OF MONTREAL,

WELLS FARGO CAPITAL FINANCE, LLC,

and

RBS CITIZENS, N.A.,

as Co-Documentation Agents

Arranged By:

BANC OF AMERICA SECURITIES LLC,

as Sole Lead Arranger and Book Manager

      

 

 

TABLE OF CONTENTS

	 	 	 	 	 

	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS
	 	 	1	 
	1.01 Defined Terms
	 	 	1	 
	1.02 Other Interpretive Provisions
	 	 	21	 
	1.03 Accounting Terms
	 	 	22	 
	1.04 Rounding
	 	 	22	 
	1.05 Times of Day
	 	 	22	 
	1.06 Letter of Credit Amounts
	 	 	22	 
	ARTICLE II THE COMMITMENTS AND CREDIT EXTENSIONS
	 	 	23	 
	2.01 Revolving Loans
	 	 	23	 
	2.02 Borrowings, Conversions and Continuations of Loans
	 	 	24	 
	2.03 Letters of Credit
	 	 	25	 
	2.04 Swing Line Loans
	 	 	32	 
	2.05 Prepayments
	 	 	35	 
	2.06 Termination or Reduction of Aggregate Revolving Commitments
	 	 	36	 
	2.07 Repayment of Loans
	 	 	36	 
	2.08 Interest
	 	 	36	 
	2.09 Fees
	 	 	37	 
	2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
	 	 	37	 
	2.11 Evidence of Debt
	 	 	38	 
	2.12 Payments Generally; Administrative Agent’s Clawback
	 	 	38	 
	2.13 Sharing of Payments by Lenders
	 	 	40	 
	2.14 Cash Collateral
	 	 	41	 
	2.15 Defaulting Lenders
	 	 	42	 
	ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY
	 	 	43	 
	3.01 Taxes
	 	 	43	 
	3.02 Illegality
	 	 	46	 
	3.03 Inability to Determine Rates
	 	 	47	 
	3.04 Increased Costs
	 	 	47	 
	3.05 Compensation for Losses
	 	 	48	 
	3.06 Mitigation Obligations; Replacement of Lenders
	 	 	49	 
	3.07 Survival
	 	 	49	 
	ARTICLE IV GUARANTY
	 	 	49	 
	4.01 The Guaranty
	 	 	49	 
	4.02 Obligations Unconditional
	 	 	50	 
	4.03 Reinstatement
	 	 	50	 
	4.04 Certain Additional Waivers
	 	 	51	 
	4.05 Remedies
	 	 	51	 
	4.06 Rights of Contribution
	 	 	51	 
	4.07 Guarantee of Payment; Continuing Guarantee
	 	 	51	 
	ARTICLE V CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	 	 	51	 
	5.01 Conditions of Effectiveness
	 	 	51	 
	5.02 Conditions to all Credit Extensions
	 	 	53	 
	ARTICLE VI REPRESENTATIONS AND WARRANTIES
	 	 	53	 
	6.01 Existence, Qualification and Power
	 	 	54	 
	6.02 Authorization; No Contravention
	 	 	54	 
	6.03 Governmental Authorization; Other Consents
	 	 	54	 
	6.04 Binding Effect
	 	 	54	 
	6.05 Financial Statements; No Material Adverse Effect
	 	 	54	 

i

 

	 	 	 	 	 

	6.06 Litigation
	 	 	55	 
	6.07 No Default
	 	 	55	 
	6.08 Ownership of Property
	 	 	55	 
	6.09 Environmental Compliance
	 	 	55	 
	6.10 Insurance
	 	 	56	 
	6.11 Taxes
	 	 	56	 
	6.12 ERISA Compliance
	 	 	56	 
	6.13 Subsidiaries
	 	 	57	 
	6.14 Margin Regulations; Investment Company Act
	 	 	57	 
	6.15 Disclosure
	 	 	58	 
	6.16 Compliance with Laws
	 	 	58	 
	6.17 Intellectual Property; Licenses, Etc
	 	 	58	 
	6.18 Solvency
	 	 	58	 
	6.19 Perfection of Security Interests in the Collateral
	 	 	59	 
	6.20 Business Locations; Taxpayer Identification Number
	 	 	59	 
	6.21 Labor Matters
	 	 	59	 
	ARTICLE VII AFFIRMATIVE COVENANTS
	 	 	59	 
	7.01 Financial Statements
	 	 	59	 
	7.02 Certificates; Other Information
	 	 	60	 
	7.03 Notices
	 	 	62	 
	7.04 Payment of Taxes
	 	 	62	 
	7.05 Preservation of Existence, Etc
	 	 	62	 
	7.06 Maintenance of Properties
	 	 	62	 
	7.07 Maintenance of Insurance
	 	 	63	 
	7.08 Compliance with Laws
	 	 	63	 
	7.09 Books and Records
	 	 	63	 
	7.10 Inspection Rights
	 	 	63	 
	7.11 Use of Proceeds
	 	 	64	 
	7.12 ERISA Compliance
	 	 	64	 
	7.13 Additional Subsidiaries
	 	 	64	 
	7.14 Pledged Assets
	 	 	64	 
	7.15 Material Contracts
	 	 	65	 
	7.16 Post-Closing Matters; Bank of Texas, N.A. Cash Collateral Account
	 	 	65	 
	ARTICLE VIII NEGATIVE COVENANTS
	 	 	65	 
	8.01 Liens
	 	 	65	 
	8.02 Investments
	 	 	67	 
	8.03 Indebtedness
	 	 	67	 
	8.04 Fundamental Changes
	 	 	68	 
	8.05 Dispositions
	 	 	68	 
	8.06 Restricted Payments
	 	 	68	 
	8.07 Change in Nature of Business
	 	 	69	 
	8.08 Transactions with Affiliates and Insiders
	 	 	69	 
	8.09 Burdensome Agreements
	 	 	69	 
	8.10 Use of Proceeds
	 	 	70	 
	8.11 Financial Covenants
	 	 	70	 
	8.12 Prepayment of Other Indebtedness, Etc
	 	 	70	 
	8.13 Organization Documents; Fiscal Year; Legal Name, State of Formation and Form of Entity
	 	 	70	 
	8.14 Ownership of Subsidiaries
	 	 	70	 
	8.15 Sale Leasebacks; Securitization Transactions; Synthetic Leases
	 	 	70	 
	ARTICLE IX EVENTS OF DEFAULT AND REMEDIES
	 	 	71	 
	9.01 Events of Default
	 	 	71	 

ii

 

	 	 	 	 	 

	9.02 Remedies Upon Event of Default
	 	 	72	 
	9.03 Application of Funds
	 	 	73	 
	ARTICLE X ADMINISTRATIVE AGENT
	 	 	74	 
	10.01 Appointment and Authority
	 	 	74	 
	10.02 Rights as a Lender
	 	 	74	 
	10.03 Exculpatory Provisions
	 	 	74	 
	10.04 Reliance by Administrative Agent
	 	 	75	 
	10.05 Delegation of Duties
	 	 	76	 
	10.06 Resignation of Administrative Agent
	 	 	76	 
	10.07 Non-Reliance on Administrative Agent and Other Lenders
	 	 	77	 
	10.08 No Other Duties; Etc
	 	 	77	 
	10.09 Administrative Agent May File Proofs of Claim
	 	 	77	 
	10.10 Collateral and Guaranty Matters
	 	 	78	 
	ARTICLE XI MISCELLANEOUS
	 	 	78	 
	11.01 Amendments, Etc
	 	 	78	 
	11.02 Notices; Effectiveness; Electronic Communications
	 	 	80	 
	11.03 No Waiver; Cumulative Remedies; Enforcement
	 	 	82	 
	11.04 Expenses; Indemnity; and Damage Waiver
	 	 	82	 
	11.05 Payments Set Aside
	 	 	84	 
	11.06 Successors and Assigns
	 	 	84	 
	11.07 Treatment of Certain Information; Confidentiality
	 	 	88	 
	11.08 Set-off
	 	 	89	 
	11.09 Interest Rate Limitation
	 	 	89	 
	11.10 Counterparts; Integration; Effectiveness
	 	 	89	 
	11.11 Survival of Representations and Warranties
	 	 	90	 
	11.12 Severability
	 	 	90	 
	11.13 Replacement of Lenders
	 	 	90	 
	11.14 Governing Law; Jurisdiction; Etc
	 	 	91	 
	11.15 Waiver of Right to Trial by Jury
	 	 	92	 
	11.16 No Advisory or Fiduciary Responsibility
	 	 	92	 
	11.17 Electronic Execution of Assignments and Certain Other Documents
	 	 	93	 
	11.18 USA PATRIOT Act Notice
	 	 	93	 

iii

 

	 	 	 	 	 

	SCHEDULES	 	 

	 	 	 	 	 

	 	 	2.01	 	Commitments and Applicable Percentages

	 	 	6.10	 	Insurance

	 	 	6.13	 	Subsidiaries

	 	 	6.17	 	IP Rights

	 	 	6.20(a)	 	Locations of Real Property

	 	 	6.20(b)	 	Locations of Tangible Personal Property

	 	 	6.20(c)	 	Location of Chief Executive Office, Taxpayer Identification Number, Etc.

	 	 	6.20(d)	 	Changes in Legal Name, State of Formation and Structure

	 	 	6.20(e)	 	Deposit and Investment Accounts

	 	 	8.01	 	Liens Existing on the Closing Date

	 	 	8.02	 	Investments Existing on the Closing Date

	 	 	8.03	 	Indebtedness Existing on the Closing Date

	 	 	11.02	 	Certain Addresses for Notices

	 	 	 	 	 

	EXHIBITS	 	 

	 	 	 	 	 

	 	 	2.02	 	Form of Loan Notice

	 	 	2.04	 	Form of Swing Line Loan Notice

	 	 	2.11(a)	 	Form of Note

	 	 	7.02	 	Form of Compliance Certificate

	 	 	7.13	 	Form of Joinder Agreement

	 	 	11.06(b)	 	Form of Assignment and Assumption

	 	 	11.06(b)(iv)	 	Form of Administrative Questionnaire

iv

 

CREDIT AGREEMENT

     This CREDIT AGREEMENT is entered into as of August 11, 2010 among TYLER TECHNOLOGIES, INC., a
Delaware corporation (the “Borrower”), the Guarantors (defined herein), the Lenders
(defined herein) and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C
Issuer.

     The Borrower has requested that the Lenders provide $150,000,000 in credit facilities for the
purposes set forth herein, and the Lenders are willing to do so on the terms and conditions set
forth herein.

     In consideration of the mutual covenants and agreements herein contained, the parties hereto
covenant and agree as follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

1.01 Defined Terms.

     As used in this Agreement, the following terms shall have the meanings set forth below:

     “Acquisition”, by any Person, means the acquisition by such Person, in a single
transaction or in a series of related transactions, of either (a) all or any substantial portion of
the property of, or a line of business or division of, another Person or (b) at least a majority of
the Voting Stock of another Person, in each case whether or not involving a merger or consolidation
with such other Person.

     “Administrative Agent” means Bank of America in its capacity as administrative agent
under any of the Loan Documents, or any successor administrative agent.

     “Administrative Agent’s Office” means the Administrative Agent’s address and, as
appropriate, account as set forth on Schedule 11.02 or such other address or account as the
Administrative Agent may from time to time notify to the Borrower and the Lenders.

     “Administrative Questionnaire” means an Administrative Questionnaire in substantially
the form of Exhibit 11.06(b)(iv) or any other form approved by the Administrative Agent.

     “Affiliate” means, with respect to any Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

     “Aggregate Revolving Commitments” means the Revolving Commitments of all the Lenders.
The initial amount of the Aggregate Revolving Commitments in effect on the Closing Date is
$150,000,000.

     “Agreement” means this Credit Agreement.

     “Applicable Percentage” means with respect to any Lender at any time, the percentage
(carried out to the ninth decimal place) of the Aggregate Revolving Commitments represented by such
Lender’s Revolving Commitment at such time; provided that if the commitment of each Lender
to make Revolving

 

 

Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated
pursuant to Section 9.02 or if the Aggregate Revolving Commitments have expired, then the
Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such
Lender most recently in effect, giving effect to any subsequent assignments. The initial
Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule
2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto,
as applicable. The Applicable Percentages shall be subject to adjustment as provided in
Section 2.15.

     “Applicable Rate” means the following percentages per annum, based upon the
Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the
Administrative Agent pursuant to Section 7.02(b):

	 	 	 	 	 	 	 	 	 	 	 
	Pricing Tier	 	Consolidated Leverage Ratio	 	Commitment Fee	 	Letters of Credit	 	Eurodollar Rate Loans	 	Base Rate Loans
	1
	 	3 2.00 to 1.0	 	0.50%	 	3.75%	 	3.75%	 	2.75%
	2
	 	3  1.25 to 1.0 but < 2.00 to 1.0	 	0.45%	 	3.50%	 	3.50%	 	2.50%
	3
	 	3 0.50 to 1.0 but < 1.25 to 1.0	 	0.40%	 	3.00%	 	3.00%	 	2.00%
	4
	 	< 0.50x	 	0.35%	 	2.50%	 	2.50%	 	1.50%

Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated
Leverage Ratio shall become effective as of the first Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 7.02(b); provided,
however, that if a Compliance Certificate is not delivered when due in accordance with such
Section, then, upon the written request of the Required Lenders and written notice to the Borrower,
Pricing Tier 1 shall apply as of the first Business Day after the date on which such Compliance
Certificate was required to have been delivered and shall remain in effect until the date on which
such Compliance Certificate is delivered in accordance with Section 7.02(b), at which time
the Applicable Rate shall be adjusted based upon the calculation of the Consolidated Leverage Ratio
contained in such Compliance Certificate. The Applicable Rate in effect from the Closing Date
through the first Business Day immediately following the date a Compliance Certificate is delivered
pursuant to Section 7.02(b) for the fiscal quarter ending September 30, 2010 shall be
determined based upon Pricing Tier 1.

     “Approved Fund” means any Fund 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.

     “Arranger” means Banc of America Securities LLC, in its capacity as sole lead arranger
and book manager.

     “Assignee Group” means two or more Eligible Assignees that are Affiliates of one
another or two or more Approved Funds managed by the same investment advisor.

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

2

 

     “Attributable Indebtedness” means, with respect to any Person on any date, (a) in
respect of any Capital Lease, the capitalized amount thereof that would appear on a balance sheet
of such Person prepared as of such date in accordance with GAAP, (b) in respect of any Synthetic
Lease, the capitalized amount of the remaining lease payments under the relevant lease that would
appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such
lease were accounted for as a Capital Lease and (c) in respect of any Securitization Transaction,
the outstanding principal amount of such financing, after taking into account reserve accounts and
making appropriate adjustments, determined by the Administrative Agent in its reasonable judgment.

     “Audited Financial Statements” means the audited consolidated balance sheet of the
Borrower and its Subsidiaries for the fiscal year ended December 31, 2009, and the related
consolidated statements of income or operations, shareholders’ equity and cash flows of the
Borrower and its Subsidiaries for such fiscal year, including the notes thereto.

     “Availability Period” means, with respect to the Revolving Commitments, the period
from and including the Closing Date to the earliest of (a) the Maturity Date, (b) the date of
termination of the Aggregate Revolving Commitments pursuant to Section 2.06, and (c) the
date of termination of the commitment of each Lender to make Loans and of the obligation of the L/C
Issuer to make L/C Credit Extensions pursuant to Section 9.02.

     “Bank of America” means Bank of America, N.A. and its successors.

     “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a)
the Federal Funds Rate plus 0.50%, (b) the rate of interest in effect for such day as
publicly announced from time to time by Bank of America as its “prime rate” and (c) the Eurodollar
Base Rate plus 1.0%. The “prime rate” is a rate set by Bank of America based upon various
factors including Bank of America’s costs and desired return, general economic conditions and other
factors, and is used as a reference point for pricing some loans, which may be priced at, above, or
below such announced rate. Any change in such “prime rate” announced by Bank of America shall take
effect at the opening of business on the day specified in the public announcement of such change.

     “Base Rate Loan” means a Loan that bears interest based on the Base Rate.

     “Borrower” has the meaning specified in the introductory paragraph hereto.

     “Borrower Materials” has the meaning specified in Section 7.02.

     “Borrowing” means a borrowing consisting of simultaneous Loans of the same Type and,
in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders
pursuant to Section 2.01.

     “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state
where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate
Loan or any Base Rate Loan bearing interest at a rate based on the Eurodollar Base Rate, means any
such day that is also a London Banking Day.

     “Capital Lease” means, as applied to any Person, any lease of any property by that
Person as lessee which, in accordance with GAAP, is required to be accounted for as a capital lease
on the balance sheet of that Person.

3

 

     “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative
Agent, for the benefit of the Administrative Agent, the L/C Issuer or the Swing Line Lender (as
applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing
Line Loans, or obligations of Lenders to fund participations in respect of either thereof (as the
context may require), cash or deposit account balances or, if the L/C Issuer or the Swing Line
Lender benefitting from such collateral shall agree in its sole discretion, other credit support,
in each case pursuant to documentation in form and substance reasonably satisfactory to (a) the
Administrative Agent and (b) the L/C Issuer or the Swing Line Lender (as applicable). “Cash
Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of
such cash collateral and other credit support.

     “Cash Equivalents” means, as at any date, (a) securities issued or directly and fully
guaranteed or insured by the United States or any agency or instrumentality thereof (provided that
the full faith and credit of the United States is pledged in support thereof) having maturities of
not more than twelve months from the date of acquisition, (b) Dollar denominated time deposits and
certificates of deposit of (i) any Lender, (ii) any domestic commercial bank of recognized standing
having capital and surplus in excess of $500,000,000 or (iii) any bank whose short-term commercial
paper rating from S&P is at least A-1 or the equivalent thereof or from Moody’s is at least P-1 or
the equivalent thereof (any such bank being an “Approved Bank”), in each case with maturities of
not more than 270 days from the date of acquisition, (c) commercial paper and variable or fixed
rate notes issued by any Approved Bank (or by the parent company thereof) or any variable rate
notes issued by, or guaranteed by, any domestic corporation rated A-1 (or the equivalent thereof)
or better by S&P or P-1 (or the equivalent thereof) or better by Moody’s and maturing within six
months of the date of acquisition, (d) repurchase agreements entered into by any Person with a bank
or trust company (including any of the Lenders) or recognized securities dealer having capital and
surplus in excess of $500,000,000 for direct obligations issued by or fully guaranteed by the
United States in which such Person shall have a perfected first priority security interest (subject
to no other Liens) and having, on the date of purchase thereof, a fair market value of at least
100% of the amount of the repurchase obligations and (e) investments, classified in accordance with
GAAP as current assets, in money market investment programs registered under the Investment Company
Act of 1940 which are administered by reputable financial institutions having capital of at least
$500,000,000 and the portfolios of which are limited to Investments of the character described in
the foregoing subdivisions (a) through (d).

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

     “Change of Control” means an event or series of events by which:

     (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or
its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other
fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in
Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or
group shall be deemed to have “beneficial ownership” of all Equity Interests that such
person or group has the right to acquire, whether such right is exercisable immediately or
only after the passage of time (such right, an “option right”)), directly or indirectly, of
25% or more of the Equity Interests of the Borrower entitled to vote for members of the
board of directors or equivalent governing body of the Borrower on a fully diluted basis
(and taking into account all such securities that such person or group has the right to
acquire pursuant to any option right);

4

 

     (b) during any period of 24 consecutive months, a majority of the members of the board
of directors or other equivalent governing body of the Borrower cease to be composed of
individuals (i) who were members of that board or equivalent governing body on the first day
of such period, (ii) whose election or nomination to that board or equivalent governing body
was approved by individuals referred to in clause (i) above constituting at the time of such
election or nomination at least a majority of that board or equivalent governing body or
(iii) whose election or nomination to that board or other equivalent governing body was
approved by individuals referred to in clauses (i) and (ii) above constituting at the time
of such election or nomination at least a majority of that board or equivalent governing
body (excluding, in the case of both clause (ii) and clause (iii), any individual whose
initial nomination for, or assumption of office as, a member of that board or equivalent
governing body occurs as a result of an actual or threatened solicitation of proxies or
consents for the election or removal of one or more directors by any person or group other
than a solicitation for the election of one or more directors by or on behalf of the board
of directors); or

     (c) the passage of thirty days from the date upon which any Person or two or more
Persons acting in concert shall have acquired by contract or otherwise, or shall have
entered into a contract or arrangement that, upon consummation thereof, will result in its
or their acquisition of the power to exercise, directly or indirectly, a controlling
influence over the management or policies of the Borrower, or control over the Voting Stock
of the Borrower on a fully-diluted basis (and taking into account all such Voting Stock that
such Person or group has the right to acquire pursuant to any option right) representing 25%
or more of the combined voting power of such Voting Stock.

     “Closing Date” means August 11, 2010.

     “Collateral” means a collective reference to all real and personal property with
respect to which Liens in favor of the Administrative Agent, for the benefit of itself and the
Lenders, are purported to be granted pursuant to and in accordance with the terms of the Collateral
Documents but shall not include the Excluded Property.

     “Collateral Documents” means a collective reference to the Security Agreement and
other security documents as may be executed and delivered by the Loan Parties pursuant to the terms
of Section 7.14 or any of the Loan Documents.

     “Commitment” means, as to each Lender, the Revolving Commitment of such Lender.

     “Compliance Certificate” means a certificate substantially in the form of Exhibit
7.02.

     “Consolidated Capital Expenditures” means, for any period, for the Borrower and its
Subsidiaries on a consolidated basis, all capital expenditures but excluding such expenditures to
the extent made with the proceeds of any Involuntary Disposition.

     “Consolidated EBITDA” means, for any period, for the Borrower and its Subsidiaries on
a consolidated basis, an amount equal to Consolidated Net Income for such period plus the
following to the extent deducted in calculating such Consolidated Net Income: (a) Consolidated
Interest Charges for such period, (b) the provision for federal, state, local and foreign income
taxes payable for such period, (c) the amount of depreciation and amortization expense for such
period and (d) non-cash stock compensation expense for such period.

5

 

     “Consolidated Fixed Charge Coverage Ratio” means, as of any date of determination, the
ratio of (a) the difference of (i) Consolidated EBITDA for the most recently completed four fiscal
quarters minus (ii) Consolidated Capital Expenditures for such period minus (iii)
income taxes paid in cash during such period to (b) the cash portion of Consolidated
Interest Charges for the most recently completed four fiscal quarters.

     “Consolidated Funded Indebtedness” means, as of any date of determination with respect
to the Borrower and its Subsidiaries on a consolidated basis, without duplication, the sum of: (a)
all obligations for borrowed money, whether current or long-term (including the Obligations) and
all obligations evidenced by bonds, debentures, notes, loan agreements or other similar
instruments; (b) all purchase money Indebtedness; (c) the maximum amount available to be drawn
under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties,
surety bonds and similar instruments; (d) all obligations in respect of the deferred purchase price
of property or services (other than trade accounts payable in the ordinary course of business); (e)
all Attributable Indebtedness; (f) all obligations to purchase, redeem, retire, defease or
otherwise make any payment prior to the Maturity Date in respect of any Equity Interests or any
warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable
preferred interest, at the greater of its voluntary or involuntary liquidation preference plus
accrued and unpaid dividends; (g) all Guarantees with respect to Indebtedness of the types
specified in clauses (a) through (f) above of another Person; and (h) all Indebtedness of the types
referred to in clauses (a) through (g) above of any partnership or joint venture (other than a
joint venture that is itself a corporation or limited liability company) in which any Loan Party or
any Subsidiary is a general partner or joint venturer, except to the extent that Indebtedness is
expressly made non-recourse to such Person.

     “Consolidated Interest Charges” means, for any period, for the Borrower and its
Subsidiaries on a consolidated basis, an amount equal to the sum of (a) all interest, premium
payments, debt discount, fees, charges and related expenses in connection with borrowed money
(including capitalized interest) or in connection with the deferred purchase price of assets, in
each case to the extent treated as interest in accordance with GAAP, plus (b) the portion
of rent expense with respect to such period under Capital Leases that is treated as interest in
accordance with GAAP plus (c) the implied interest component of Synthetic Leases with
respect to such period.

     “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a)
Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most
recently completed four fiscal quarters.

     “Consolidated Net Income” means, for any period, for the Borrower and its Subsidiaries
on a consolidated basis, the net income (excluding extraordinary items) for that period.

     “Contractual Obligation” means, 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.

     “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto. Without limiting the generality of the foregoing, a Person
shall be deemed to be Controlled by another Person if such other Person possesses, directly or
indirectly, power to vote 10% or more of the securities having ordinary voting power for the
election of directors, managing general partners or the equivalent.

     “Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit
Extension.

6

 

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

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

     “Default Rate” means (a) when used with respect to Obligations other than Letter of
Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if
any, applicable to Base Rate Loans plus (iii) 2% per annum; provided,
however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest
rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan
plus 2% per annum, in each case to the fullest extent permitted by applicable Laws and (b) when
used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per
annum.

     “Defaulting Lender” means, subject to Section 2.15(b), any Lender that, as
determined by the Administrative Agent, (a) has failed to perform any of its funding obligations
hereunder, including in respect of its Loans or participations in respect of Letters of Credit or
Swing Line Loans, within three Business Days of the date required to be funded by it hereunder, (b)
has notified the Borrower or the Administrative Agent that it does not intend to comply with its
funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder or under other agreements in which it commits to extend credit, (c) has
failed, within three Business Days after request by the Administrative Agent, to confirm in a
manner satisfactory to the Administrative Agent that it will comply with its funding obligations,
or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a
proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator,
assignee for the benefit of creditors or similar Person charged with reorganization or liquidation
of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or
indicated its consent to, approval of or acquiescence in any such proceeding or appointment;
provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership
or acquisition of any equity interest in that Lender or any direct or indirect parent company
thereof by a Governmental Authority.

     “Disposition” or “Dispose” means the sale, transfer, license, lease or other
disposition of any property by any Loan Party or any Subsidiary, including any Sale and Leaseback
Transaction and any sale, assignment, transfer or other disposal, with or without recourse, of any
notes or accounts receivable or any rights and claims associated therewith, but excluding any
Involuntary Disposition.

     “Dollar” and “$” mean lawful money of the United States.

     “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any
state of the United States or the District of Columbia.

     “Eligible Assignee” means any Person that meets the requirements to be an assignee
under Sections 11.06(b)(iii) and (v) (subject to such consents, if any, as may be
required under Section 11.06(b)(iii)).

     “Environmental Laws” means any and all federal, state, local, foreign and other
applicable statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits,
concessions, grants, franchises, licenses, agreements or governmental restrictions relating to
pollution and the protection of the

7

 

environment or the release of any materials into the environment, including those related to
hazardous substances or wastes, air emissions and discharges to waste or public systems.

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

     “Equity Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or
other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person
or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting, and whether or not
such shares, warrants, options, rights or other interests are outstanding on any date of
determination.

     “ERISA” means the Employee Retirement Income Security Act of 1974.

     “ERISA Affiliate” means any trade or business (whether or not incorporated) under
common control with the Borrower within the meaning of Section 414(b) or (c) of the Internal
Revenue Code (and Sections 414(m) and (o) of the Internal Revenue Code for purposes of provisions
relating to Section 412 of the Internal Revenue Code).

     “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the
withdrawal of the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which such entity was a substantial employer (as defined in Section
4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under
Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA
Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization;
(d) the filing of a notice of intent to terminate, the treatment of a Pension Plan amendment as a
termination under Section 4041 or 4041A of ERISA, (e) the institution by the PBGC of proceedings to
terminate a Pension Plan; (f) any event or condition which constitutes grounds under Section 4042
of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan;
(g) the determination that any Pension Plan is considered an at-risk plan or a plan in endangered
or critical status within the meaning of Sections 430, 431 and 432 of the Internal Revenue Code or
Sections 303, 304 and 305 of ERISA or (h) the imposition of any liability under Title IV of ERISA,
other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower
or any ERISA Affiliate.

     “Eurodollar Base Rate” means:

     (a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum
equal to (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published
by Reuters (or such other commercially available source providing quotations of BBA LIBOR as
may be designated by the Administrative Agent from time to time) at approximately 11:00
a.m., London time, two London Banking Days prior to the commencement of such Interest
Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a
term equivalent to

8

 

such Interest Period or (ii) if such published rate is not available at such time for
any reason, the rate determined by the Administrative Agent to be the rate at which deposits
in Dollars for delivery on the first day of such Interest Period in same day funds in the
approximate amount of the Eurodollar Rate Loan being made, continued or converted and with a
term equivalent to such Interest Period would be offered by Bank of America’s London Branch
to major banks in the London interbank eurodollar market at their request at approximately
11:00 a.m. (London time) two London Banking Days prior to the commencement of such Interest
Period; and

     (b) for purposes of calculating the Base Rate on any date, the rate per annum equal to
(i) BBA LIBOR, at approximately 11:00 a.m., London time determined two London Banking Days
prior to such date for Dollar deposits being delivered in the London interbank market for a
term of one month commencing that day or (ii) if such published rate is not available at
such time for any reason, the rate per annum determined by the Administrative Agent to be
the rate at which deposits in Dollars for delivery on the date of determination in same day
funds in the approximate amount of the Base Rate Loan being made or maintained and with a
term equal to one month would be offered by Bank of America’s London Branch to major banks
in the London interbank Eurodollar market at their request at the date and time of
determination.

     “Eurodollar Rate” means for any Interest Period with respect to any Eurodollar Rate
Loan, a rate per annum determined by the Administrative Agent to be equal to the quotient obtained
by dividing (a) the Eurodollar Base Rate for such Eurodollar Rate Loan for such Interest Period by
(b) one minus the Eurodollar Reserve Percentage for such Eurodollar Rate Loan for such
Interest Period.

     “Eurodollar Rate Loan” means a Loan that bears interest at a rate based on clause (a)
of the definition of “Eurodollar Base Rate”.

     “Eurodollar Reserve Percentage” means, for any day, the reserve percentage (expressed
as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable
to any Lender, under regulations issued from time to time by the FRB for determining the maximum
reserve requirement (including any emergency, supplemental or other marginal reserve requirement)
with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The
Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the
effective date of any change in the Eurodollar Reserve Percentage.

     “Event of Default” has the meaning specified in Section 9.01.

     “Excluded Property” means, with respect to any Loan Party, (a) any owned or leased
real property, (b) any IP Rights for which a Lien thereon is not perfected either by filing of a
Uniform Commercial Code financing statement or by appropriate evidence of such Lien being filed in
either the United States Copyright Office or the United States Patent and Trademark Office, (c)
unless requested by the Administrative Agent or the Required Lenders, (i) any motor vehicles and
(ii) any personal property (other than personal property described in clause (b) above) for which
the attachment or perfection of a Lien thereon is not governed by the Uniform Commercial Code, (d)
the Equity Interests of any direct Foreign Subsidiary of any Loan Party to the extent not required
to be pledged to secure the Obligations pursuant to Section 7.14(a), (e) any property
which, subject to the terms of Section 8.09, is subject to a Lien of the type described in
Section 8.01(i) pursuant to documents which prohibit such Loan Party from granting any
other Liens in such property and (f) for so long as the letters of credit identified on
Schedule 8.03 are outstanding, deposit account number 8090221452 maintained at Bank of
Texas, N.A.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the L/C
Issuer or any other recipient of any payment to be made by or on account of any obligation of the
Borrower hereunder,

9

 

(a) taxes imposed on or measured by its overall net income (however denominated), and
franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political
subdivision thereof) under the Laws of which such recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable Lending Office is located,
(b) any branch profits taxes imposed by the United States or any similar tax imposed by any other
jurisdiction in which the Borrower is located (c) any backup withholding tax that is required by
the Internal Revenue Code to be withheld from amounts payable to a Lender that has failed to comply
with clause (A) of Section 3.01(e)(ii) and (d) in the case of a Foreign Lender (other than
an assignee pursuant to a request by the Borrower under Section 11.13), any United States
withholding tax that (i) is required to be imposed on amounts payable to such Foreign Lender
pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or designates
a new Lending Office) or (ii) is attributable to such Foreign Lender’s failure or inability (other
than as a result of a Change in Law) to comply with clause (B) of Section 3.01(e)(ii),
except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time
of designation of a new Lending Office (or assignment), to receive additional amounts from the
Borrower with respect to such withholding tax pursuant to Section 3.01(a)(ii) or
(c).

     “Facilities” means the real property of the Borrower located at (a) One Cole Haan
Drive, Yarmouth, Maine 04096 and (b) 5519 53rd Street, Lubbock, Texas 79404.

     “FASB ASC” means the Accounting Standards Codification of the Financial Accounting
Standards Board.

     “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted
average of the rates on overnight federal funds transactions with members of the Federal Reserve
System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of
New York on the Business Day next succeeding such day; provided that (a) if such day is not
a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the
next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such
rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day
shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%)
charged to Bank of America on such day on such transactions as determined by the Administrative
Agent.

     “Fee Letter” means the letter agreement, dated as of the Closing Date among the
Borrower, the Administrative Agent and the Arranger.

     “Foreign Lender” means any Lender that is organized under the Laws of a jurisdiction
other than that in which the Borrower is resident for tax purposes (including such a Lender when
acting in the capacity of the L/C Issuer). For purposes of this definition, the United States,
each State thereof and the District of Columbia shall be deemed to constitute a single
jurisdiction.

     “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary.

     “FRB” means the Board of Governors of the Federal Reserve System of the United States.

     “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect
to the L/C Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C
Obligations other than L/C Obligations as to which such Defaulting Lender’s participation
obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the
terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable
Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance
with the terms hereof.

10

 

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

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

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

     “Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of
such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other
obligation payable or performable by another Person (the “primary obligor”) in any manner, whether
directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or
other obligation, (ii) to purchase or lease property, securities or services for the purpose of
assuring the obligee in respect of such Indebtedness or other obligation of the payment or
performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity
capital or any other financial statement condition or liquidity or level of income or cash flow of
the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in
respect of such Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any
assets of such Person securing any Indebtedness or other obligation of any other Person, whether or
not such Indebtedness or other obligation is assumed by such Person (or any right, contingent or
otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any
Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related
primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not
stated or determinable, the maximum reasonably anticipated liability in respect thereof as
determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a
corresponding meaning.

     “Guarantors” means each Material Domestic Subsidiary of the Borrower that joins as a
Guarantor pursuant to Section 7.13 or otherwise, together with their successors and
permitted assigns.

     “Guaranty” means the Guaranty made by the Guarantors in favor of the Administrative
Agent and the Lenders pursuant to Article IV.

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

     “Honor Date” has the meaning set forth in Section 2.03(c).

     “Immaterial Subsidiary” means any Domestic Subsidiary that: (a) owns assets with an
aggregate book value that does not exceed 2% of the consolidated assets of the Borrower and its
Subsidiaries, (b) has annual revenues that do not exceed 2% of the consolidated revenues of the
Borrower and its

11

 

Subsidiaries, (c) together with all other Immaterial Subsidiaries, owns assets with an
aggregate book value that does not exceed 10% of the consolidated assets of the Borrower and its
Subsidiaries and (d) together with all other Immaterial Subsidiaries, has annual revenues that do
not exceed 10% of the consolidated revenues of the Borrower and its Subsidiaries.

     “Indebtedness” means, as to any Person at a particular time, without duplication, all
of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

     (a) all obligations for borrowed money and all obligations of such Person evidenced by
bonds, debentures, notes, loan agreements or other similar instruments;

     (b) the maximum amount available to be drawn under letters of credit (including standby
and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar
instruments;

     (c) the Swap Termination Value of any Swap Contract;

     (d) all obligations to pay the deferred purchase price of property or services (other
than trade accounts payable in the ordinary course of business);

     (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property
owned or being purchased by such Person (including indebtedness arising under conditional
sales or other title retention agreements), whether or not such indebtedness shall have been
assumed by such Person or is limited in recourse;

     (f) all Attributable Indebtedness;

     (g) all obligations to purchase, redeem, retire, defease or otherwise make any payment
in respect of any Equity Interests or any warrant, right or option to acquire such Equity
Interest, valued, in the case of a redeemable preferred interest, at the greater of its
voluntary or involuntary liquidation preference plus accrued and unpaid dividends;

     (h) all Guarantees of such Person in respect of any of the foregoing; and

     (i) all Indebtedness of the types referred to in clauses (a) through (h) above of any
partnership or joint venture (other than a joint venture that is itself a corporation or
limited liability company) in which such Person is a general partner or joint venturer,
unless such Indebtedness is expressly made non-recourse to such Person.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Indemnitees” has the meaning specified in Section 11.04(b).

     “Information” has the meaning specified in Section 11.07.

     “Interest Payment Date” means (a) as to any Eurodollar Rate Loan, the last day of each
Interest Period applicable to such Loan and the Maturity Date; provided, however,
that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates
that fall every three months after the beginning of such Interest Period shall also be Interest
Payment Dates; and (b) as to any Base Rate Loan (including a Swing Line Loan), the last Business
Day of each March, June, September and December and the Maturity Date.

12

 

     “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the
date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan
and ending on the date one, two, three or six months thereafter, as selected by the Borrower in its
Loan Notice; provided that:

     (i) any Interest Period that would otherwise end on a day that is not a
Business Day shall be extended to the next succeeding Business Day unless such
Business Day falls in another calendar month, in which case such Interest Period
shall end on the next preceding Business Day;

     (ii) 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 the calendar month at the end of such Interest Period; and

     (iii) no Interest Period shall extend beyond the Maturity Date.

     “Internal Revenue Code” means the Internal Revenue Code of 1986.

     “Investment” means, as to any Person, any direct or indirect acquisition or investment
by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests of
another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of,
or purchase or other acquisition of any other debt or equity participation or interest in, another
Person, or (c) an Acquisition. For purposes of covenant compliance, the amount of any Investment
shall be the amount actually invested, without adjustment for subsequent increases or decreases in
the value of such Investment.

     “Involuntary Disposition” means any loss of, damage to or destruction of, or any
condemnation or other taking for public use of, any property of any Loan Party or any Subsidiary.

     “IP Rights” has the meaning specified in Section 6.17.

     “IRS” means the United States Internal Revenue Service.

     “ISP” means, with respect to any Letter of Credit, the “International Standby
Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such
later version thereof as may be in effect at the time of issuance).

     “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit
Application, and any other document, agreement and instrument entered into by the L/C Issuer and
the Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of
Credit.

     “Joinder Agreement” means a joinder agreement substantially in the form of Exhibit
7.13 executed and delivered by a Domestic Subsidiary in accordance with the provisions of
Section 7.13.

     “Laws” means, collectively, all international, foreign, federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and
permits of, and agreements with, any Governmental Authority, in each case whether or not having the
force of law.

13

 

     “L/C Advance” means, with respect to each Lender, such Lender’s funding of its
participation in any L/C Borrowing in accordance with its Applicable Percentage.

     “L/C Borrowing” means an extension of credit resulting from a drawing under any Letter
of Credit which has not been reimbursed on the date when made or refinanced as a Borrowing of
Revolving Loans.

     “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance
thereof or extension of the expiry date thereof, or the increase of the amount thereof.

     “L/C Issuer” means Bank of America in its capacity as issuer of Letters of Credit
hereunder, or any successor issuer of Letters of Credit hereunder.

     “L/C Obligations” means, as at any date of determination, the aggregate amount
available to be drawn under all outstanding Letters of Credit plus the aggregate of all
Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in
accordance with Section 1.06. For all purposes of this Agreement, if on any date of
determination a Letter of Credit has expired by its terms but any amount may still be drawn
thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be
deemed to be “outstanding” in the amount so remaining available to be drawn.

     “Lenders” means each of the Persons identified as a “Lender” on the signature pages
hereto, each other Person that becomes a “Lender” in accordance with this Agreement and their
successors and assigns and, as the context requires, includes the Swing Line Lender.

     “Lending Office” means, as to any Lender, the office or offices of such Lender
described as such in such Lender’s Administrative Questionnaire, or such other office or offices as
a Lender may from time to time notify the Borrower and the Administrative Agent.

     “Letter of Credit” means any standby letter of credit issued hereunder.

     “Letter of Credit Application” means an application and agreement for the issuance or
amendment of a letter of credit in the form from time to time in use by the L/C Issuer.

     “Letter of Credit Expiration Date” means the day that is thirty days prior to the
Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business
Day).

     “Letter of Credit Fee” has the meaning specified in Section 2.03(h).

     “Letter of Credit Sublimit” means an amount equal to the lesser of (a) the Aggregate
Revolving Commitments and (b) $25,000,000. The Letter of Credit Sublimit is part of, and not in
addition to, the Aggregate Revolving Commitments.

     “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or otherwise), charge, or preference, priority or other security
interest or preferential arrangement in the nature of a security interest of any kind or nature
whatsoever (including any conditional sale or other title retention agreement, any easement, right
of way or other encumbrance on title to real property, and any financing lease having substantially
the same economic effect as any of the foregoing).

14

 

     “Loan” means an extension of credit by a Lender to the Borrower under Article
II in the form of a Revolving Loan or Swing Line Loan.

     “Loan Documents” means this Agreement, each Note, each Issuer Document, each Joinder
Agreement, the Collateral Documents and the Fee Letter.

     “Loan Notice” means a notice of (a) a Borrowing of Revolving Loans, (b) a conversion
of Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans, in each case
pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of
Exhibit 2.02.

     “Loan Parties” means, collectively, the Borrower and each Guarantor.

     “London Banking Day” means any day on which dealings in Dollar deposits are conducted
by and between banks in the London interbank eurodollar market.

     “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the operations, business, properties, liabilities (actual or contingent) or
condition (financial or otherwise) of the Borrower and its Subsidiaries taken as a whole; (b) a
material impairment of the ability of any Loan Party to perform its material obligations under any
Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity,
binding effect or enforceability against any Loan Party of any Loan Document to which it is a
party.

     “Material Contract” means any contract or other arrangement to which the Borrower or
any of its Subsidiaries is a party (other than the Loan Documents) (a) that represents more than
five percent (5%) of the consolidated annual revenues of the Borrower and its Subsidiaries or (b)
for which breach, nonperformance, cancellation or failure to renew could reasonably be expected to
have a Material Adverse Effect.

     “Material Domestic Subsidiary” means any Domestic Subsidiary that is not an Immaterial
Subsidiary.

     “Maturity Date” means August 11, 2014; provided, however, that, if
such date is not a Business Day, the Maturity Date shall be the next preceding Business Day.

     “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.

     “Multiemployer Plan” means any employee benefit plan of the type described in Section
4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to make
contributions, or during the preceding five plan years, has made or been obligated to make
contributions.

     “Multiple Employer Plan” means a Plan which has two or more contributing sponsors
(including the Borrower or any ERISA Affiliate) at least two of whom are not under common control,
as such a plan is described in Section 4064 of ERISA.

     “Note” has the meaning specified in Section 2.11(a).

     “Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan
or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute
or contingent, due or to become due, now existing or hereafter arising and including interest and
fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of
any proceeding under any Debtor

15

 

Relief Laws naming such Person as the debtor in such proceeding,
regardless of whether such interest and
fees are allowed claims in such proceeding. The foregoing shall also include (a) all
obligations under any Swap Contract between any Loan Party or any Subsidiary and any Lender or
Affiliate of a Lender and (b) all obligations under any Treasury Management Agreement between any
Loan Party or any Subsidiary and any Lender or Affiliate of a Lender.

     “Organization Documents” means, (a) with respect to any corporation, the certificate
or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents
with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint
venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with
the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity.

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

     “Outstanding Amount” means (a) with respect to any Loans on any date, the aggregate
outstanding principal amount thereof after giving effect to any borrowings and prepayments or
repayments of any Loans occurring on such date; and (b) with respect to any L/C Obligations on any
date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit
Extension occurring on such date and any other changes in the aggregate amount of the L/C
Obligations as of such date, including as a result of any reimbursements by the Borrower of
Unreimbursed Amounts.

     “Participant” has the meaning specified in Section 11.06(d).

     “PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto.

     “Pension Act” means the Pension Protection Act of 2006.

     “Pension Funding Rules” means the rules of the Internal Revenue Code and ERISA
regarding minimum required contributions (including any installment payment thereof) to Pension
Plans and set forth in, with respect to plan years ending prior to the effective date of the
Pension Act, Section 412 of the Internal Revenue Code and Section 302 of ERISA, each as in effect
prior to the Pension Act and, thereafter, Section 412, 430, 431, 432 and 436 of the Internal
Revenue Code and Sections 302, 303, 304 and 305 of ERISA.

     “Pension Plan” means any employee pension benefit plan (including a Multiple Employer
Plan or a Multiemployer Plan) that is maintained or is contributed to by the Borrower and any ERISA
Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards
under Section 412 of the Internal Revenue Code.

     “Permitted Acquisition” means an Investment consisting of an Acquisition by any Loan
Party, provided that (a) the property acquired (or the property of the Person
acquired) in such Acquisition is used or useful in the same or a similar line of business as the
Borrower and its Subsidiaries were engaged in on the Closing Date (or any reasonable extensions or
expansions thereof), (b) in the case of an Acquisition of the Equity Interests of another Person,
the board of directors (or other comparable governing body) of such

16

 

other Person shall have duly
approved such Acquisition, (c) the Borrower shall have delivered to the
Administrative Agent a Pro Forma Compliance Certificate demonstrating that, upon giving effect
to such Acquisition, (i) the Loan Parties would be in compliance with the financial covenants set
forth in Section 8.11 on a Pro Forma Basis and (ii) the Consolidated Leverage Ratio,
calculated on a Pro Forma Basis, would be less than 2.25 to 1.0, (d) the representations and
warranties made by the Loan Parties in each Loan Document shall be true and correct in all material
respects at and as if made as of the date of such Acquisition (after giving effect thereto), (e) if
such transaction involves the purchase of an interest in a partnership between any Loan Party as a
general partner and entities unaffiliated with the Borrower as the other partners, such transaction
shall be effected by having such equity interest acquired by a corporate holding company directly
or indirectly wholly-owned by such Loan Party newly formed for the sole purpose of effecting such
transaction, (f) immediately after giving effect to such Acquisition, the sum of (i) availability
under the Aggregate Revolving Commitments plus (ii) unrestricted cash and Cash Equivalents
held by the Loan Parties at such time shall be at least $10,000,000, and (g) the aggregate cash and
non-cash consideration (including any assumption of Indebtedness, deferred purchase price, any
earn-out payments and Equity Interests issued) paid by the Borrower and its Subsidiaries for all
such Acquisitions occurring during any fiscal year shall not exceed $35,000,000.

     “Permitted Liens” means, at any time, Liens in respect of property of any Loan Party
or any Subsidiary permitted to exist at such time pursuant to the terms of Section 8.01.

     “Permitted Transfers” means (a) Dispositions of inventory in the ordinary course of
business; (b) Dispositions of machinery and equipment no longer used or useful in the conduct of
business of the Borrower and its Subsidiaries that are Disposed of in the ordinary course of
business; (c) Dispositions of property to the Borrower or any Subsidiary; provided, that if
the transferor of such property is a Loan Party then the transferee thereof must be a Loan Party;
(d) Dispositions of accounts receivable in connection with the collection or compromise thereof;
(e) licenses, sublicenses, leases or subleases granted to others not interfering in any material
respect with the business of the Borrower and its Subsidiaries; (f) non-exclusive licenses in IP
Rights granted in the ordinary course of business; and (g) the sale or disposition of Cash
Equivalents for fair market value.

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

     “Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA
(including a Pension Plan), maintained for employees of the Borrower or any ERISA Affiliate or any
such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf of any
of its employees.

     “Platform” has the meaning specified in Section 7.02.

     “Pro Forma Basis” means, with respect to any transaction, that for purposes of
calculating the financial covenants set forth in Section 8.11, such transaction shall be
deemed to have occurred as of the first day of the most recent four fiscal quarter period preceding
the date of such transaction for which financial statements were required to be delivered pursuant
to Section 7.01(a) or (b). In connection with the foregoing, (a) with respect to
any Disposition or Involuntary Disposition, (i) income statement and cash flow statement items
(whether positive or negative) attributable to the property disposed of shall be excluded to the
extent relating to any period occurring prior to the date of such transaction and (ii) Indebtedness
which is retired shall be excluded and deemed to have been retired as of the first day of the
applicable period and (b) with respect to any Acquisition, (i) income statement and cash flow
statement items attributable to the Person or property acquired shall be included to the extent
relating to any period applicable in such calculations to the extent (A) such items are not
otherwise included in such income statement and cash flow statement items for the Borrower and its
Subsidiaries in accordance with

17

 

GAAP or in accordance with any defined terms set forth in
Section 1.01 and (B) such items are supported by
financial statements or other information reasonably satisfactory to the Administrative Agent
and (ii) any Indebtedness incurred or assumed by any Loan Party or any Subsidiary (including the
Person or property acquired) in connection with such transaction and any Indebtedness of the Person
or property acquired which is not retired in connection with such transaction (A) shall be deemed
to have been incurred as of the first day of the applicable period and (B) if such Indebtedness has
a floating or formula rate, shall have an implied rate of interest for the applicable period for
purposes of this definition determined by utilizing the rate which is or would be in effect with
respect to such Indebtedness as at the relevant date of determination.

     “Pro Forma Compliance Certificate” means a certificate of a Responsible Officer of the
Borrower containing reasonably detailed calculations of the financial covenants set forth in
Section 8.11 as of the end of the period of the four fiscal quarters most recently ended
for which the Borrower has delivered financial statements pursuant to Section 7.01(a) or
(b) after giving effect to the applicable transaction on a Pro Forma Basis.

     “Public Lender” has the meaning specified in Section 7.02.

     “Register” has the meaning specified in Section 11.06(c).

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

     “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than events for which the thirty-day notice period has been waived.

     “Request for Credit Extension” means (a) with respect to a Borrowing, conversion or
continuation of Loans, a Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of
Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

     “Required Lenders” means, at any time, Lenders holding in the aggregate more than 50%
of (a) the unfunded Commitments and the outstanding Loans, L/C Obligations and participations
therein or (b) if the Commitments have been terminated, the outstanding Loans, L/C Obligations and
participations therein. The unfunded Commitments of, and the outstanding Loans, L/C Obligations
and participations therein held or deemed held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Required Lenders.

     “Responsible Officer” means the chief executive officer, president, chief financial
officer, treasurer, assistant treasurer or controller of a Loan Party, solely for purposes of the
delivery of incumbency certificates pursuant to Section 5.01, the secretary or any
assistant secretary of a Loan Party and, solely for purposes of notices given pursuant to
Article II, any other officer or employee of the applicable Loan Party so designated by any
of the foregoing officers in a notice to the Administrative Agent. Any document delivered
hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to
have been authorized by all necessary corporate, partnership and/or other action on the part of
such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf
of such Loan Party.

     “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any Equity Interests of any Person, or any payment
(whether in cash, securities or other property), including any sinking fund or similar deposit, on
account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or
termination of any such Equity Interests

18

 

or on account of any return of capital to such Person’s
stockholders, partners or members (or the
equivalent Person thereof), or any option, warrant or other right to acquire any such dividend
or other distribution or payment.

     “Revolving Commitment” means, as to each Lender, its obligation to (a) make Revolving
Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C
Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount
at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on
Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a
party hereto or in any documentation executed by such Lender pursuant to Section 2.01(b),
as applicable as such amount may be adjusted from time to time in accordance with this Agreement.

     “Revolving Loan” has the meaning specified in Section 2.01(a).

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc. and any successor thereto.

     “Sale and Leaseback Transaction” means, with respect to any Loan Party or any
Subsidiary, any arrangement, directly or indirectly, with any Person whereby such Loan Party or
such Subsidiary shall sell or transfer any property used or useful in its business, whether now
owned or hereafter acquired, and thereafter rent or lease such property or other property that it
intends to use for substantially the same purpose or purposes as the property being sold or
transferred.

     “SEC” means the Securities and Exchange Commission, or any Governmental Authority
succeeding to any of its principal functions.

     “Securitization Transaction” means, with respect to any Person, any financing
transaction or series of financing transactions (including factoring arrangements) pursuant to
which such Person or any Subsidiary of such Person may sell, convey or otherwise transfer, or grant
a security interest in, accounts, payments, receivables, rights to future lease payments or
residuals or similar rights to payment to a special purpose subsidiary or affiliate of such Person.

     “Security Agreement” means the security and pledge agreement, dated as of the Closing
Date, executed in favor of the Administrative Agent by each of the Loan Parties.

     “Solvent” or “Solvency” means, with respect to any Person as of a particular
date, that on such date (a) such Person is able to pay its debts and other liabilities, contingent
obligations and other commitments as they mature in the ordinary course of business, (b) such
Person does not intend to, and does not believe that it will, incur debts or liabilities beyond
such Person’s ability to pay such debts and liabilities as they mature in the ordinary course of
business, (c) such Person is not engaged in a business or a transaction, and is not about to engage
in a business or a transaction, for which such Person’s property would constitute unreasonably
small capital, (d) the fair value of the property of such Person is greater than the total amount
of liabilities, including contingent liabilities, of such Person and (e) the present fair salable
value of the assets of such Person is not less than the amount that will be required to pay the
probable liability of such Person on its debts as they become absolute and matured. The amount of
contingent liabilities at any time shall be computed as the amount that, in the light of all the
facts and circumstances existing at such time, represents the amount that can reasonably be
expected to become an actual or matured liability.

     “Subsidiary” of a Person means a corporation, partnership, joint venture, limited
liability company or other business entity of which a majority of the shares of Voting Stock is at
the time beneficially owned, or the management of which is otherwise controlled, directly, or
indirectly through

19

 

one or more intermediaries, or both, by such Person. Unless otherwise specified, all
references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or
Subsidiaries of the Borrower.

     “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward
commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest
rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is
governed by or subject to any master agreement, and (b) any and all transactions of any kind, and
the related confirmations, which are subject to the terms and conditions of, or governed by, any
form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master
agreement, together with any related schedules, a “Master Agreement”), including any such
obligations or liabilities under any Master Agreement.

     “Swap Termination Value” means, in respect of any one or more Swap Contracts, after
taking into account the effect of any legally enforceable netting agreement relating to such Swap
Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and
termination value(s) determined in accordance therewith, such termination value(s) and (b) for any
date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market
value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily
available quotations provided by any recognized dealer in such Swap Contracts (which may include a
Lender or any Affiliate of a Lender).

     “Swing Line Lender” means Bank of America in its capacity as provider of Swing Line
Loans, or any successor swing line lender hereunder.

     “Swing Line Loan” has the meaning specified in Section 2.04(a).

     “Swing Line Loan Notice” means a notice of a Borrowing of Swing Line Loans pursuant to
Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit
2.04.

     “Swing Line Sublimit” means an amount equal to the lesser of (a) $10,000,000 and (b)
the Aggregate Revolving Commitments. The Swing Line Sublimit is part of, and not in addition to,
the Aggregate Revolving Commitments.

     “Synthetic Lease” means any synthetic lease, tax retention operating lease,
off-balance sheet loan or similar off-balance sheet financing arrangement whereby the arrangement
is considered borrowed money indebtedness for tax purposes but is classified as an operating lease
or does not otherwise appear on a balance sheet under GAAP.

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

     “Threshold Amount” means $5,000,000.

     “Total Revolving Outstandings” means the aggregate Outstanding Amount of all Revolving
Loans, all Swing Line Loans and all L/C Obligations.

20

 

     “Treasury Management Agreement” means any agreement governing the provision of
treasury or cash management services, including deposit accounts, overnight draft, credit or debit
cards, funds transfer, automated clearinghouse, zero balance accounts, returned check
concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade
finance services and other cash management services.

     “Type” means, with respect to any Loan, its character as a Base Rate Loan or a
Eurodollar Rate Loan.

     “United States” and “U.S.” mean the United States of America.

     “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i).

     “Voting Stock” means, with respect to any Person, Equity Interests issued by such
Person the holders of which are ordinarily, in the absence of contingencies, entitled to vote for
the election of directors (or persons performing similar functions) of such Person, even though the
right so to vote has been suspended by the happening of such a contingency.

1.02 Other Interpretive Provisions.

     With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document:

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

     (b) In the computation of periods of time from a specified date to a later specified
date, the word “from” means “from and including;” the words “to” and
“until” each mean “to but excluding;” and the word “through” means
“to and including.”

21

 

     (c) Section headings herein and in the other Loan Documents are included for
convenience of reference only and shall not affect the interpretation of this Agreement or
any other Loan Document.

1.03 Accounting Terms.

     (a) Generally. Except as otherwise specifically prescribed herein, all
accounting terms not specifically or completely defined herein shall be construed in
conformity with, and all financial data (including financial ratios and other financial
calculations) required to be submitted pursuant to this Agreement shall be prepared in
conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied
in a manner consistent with that used in preparing the Audited Financial Statements.
Notwithstanding the foregoing, for purposes of determining compliance with any covenant
(including the computation of any financial covenant) contained herein, Indebtedness of the
Loan Parties and their Subsidiaries shall be deemed to be carried at 100% of the outstanding
principal amount thereof, and the effects of FASB ASC 825 on financial liabilities shall be
disregarded.

     (b) Changes in GAAP. If at any time any change in GAAP would affect the
computation of any financial ratio or requirement set forth in any Loan Document, and either
the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders
and the Borrower shall negotiate in good faith to amend such ratio or requirement to
preserve the original intent thereof in light of such change in GAAP (subject to the
approval of the Required Lenders); provided that, until so amended, (i) such
ratio or requirement shall continue to be computed in accordance with GAAP prior to such
change therein and (ii) the Borrower shall provide to the Administrative Agent and the
Lenders financial statements and other documents required under this Agreement or as
reasonably requested hereunder setting forth a reconciliation between calculations of such
ratio or requirement made before and after giving effect to such change in GAAP.

     (c) Calculations. Notwithstanding the above, the parties hereto acknowledge
and agree that all calculations of the financial covenants in Section 8.11
(including for purposes of determining the Applicable Rate) shall be made on a Pro Forma
Basis with respect to any Disposition (other than Permitted Transfers), Involuntary
Disposition or Acquisition occurring during the applicable period.

1.04 Rounding.

     Any financial ratios required to be maintained by the Borrower pursuant to this Agreement
shall be calculated by dividing the appropriate component by the other component, carrying the
result to one place more than the number of places by which such ratio is expressed herein and
rounding the result up or down to the nearest number (with a rounding-up if there is no nearest
number).

1.05 Times of Day.

     Unless otherwise specified, all references herein to times of day shall be references to
Eastern time (daylight or standard, as applicable).

1.06 Letter of Credit Amounts.

     Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be
deemed to be the stated amount of such Letter of Credit in effect at such time; provided,
however, that with respect

22

 

to any Letter of Credit that, by its terms or the terms of any Issuer Document related
thereto, provides for one or more automatic increases in the stated amount thereof, the amount of
such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit
after giving effect to all such increases, whether or not such maximum stated amount is in effect
at such time.

ARTICLE II

THE COMMITMENTS AND CREDIT EXTENSIONS

2.01 Revolving Loans.

     (a) Revolving Loans. Subject to the terms and conditions set forth herein, each
Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrower
in Dollars from time to time on any Business Day during the Availability Period in an aggregate
amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment;
provided, however, that after giving effect to any Borrowing of Revolving Loans,
(i) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments, and (ii)
the aggregate Outstanding Amount of the Revolving Loans of any Lender, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s
Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such
Lender’s Revolving Commitment. Within the limits of each Lender’s Revolving Commitment, and
subject to the other terms and conditions hereof, the Borrower may borrow under this Section
2.01, prepay under Section 2.05, and reborrow under this Section 2.01.
Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein,
provided, however, all Borrowings made on the Closing Date shall be made as Base
Rate Loans.

     (b) Increases of the Aggregate Revolving Commitments. The Borrower shall have the
right, upon at least five Business Days’ prior written notice to the Administrative Agent, to
increase the Aggregate Revolving Commitments by up to $50,000,000 in the aggregate in one or more
increases, at any time prior to the date that is six months prior to the Maturity Date,
subject, however, in any such case, to satisfaction of the following conditions
precedent:

     (i) the Aggregate Revolving Commitments shall not exceed $200,000,000 without the
consent of the Required Lenders;

     (ii) no Default shall have occurred and be continuing on the date on which such
increase is to become effective;

     (iii) the representations and warranties set forth in Article VI shall be true
and correct on and as of the date on which such increase is to become effective, except to
the extent that such representations and warranties specifically refer to an earlier date,
in which case they shall be true and correct as of such earlier date;

     (iv) such increase shall be in a minimum amount of $10,000,000 and in integral
multiples of $5,000,000 in excess thereof;

     (v) such requested increase shall only be effective upon receipt by the Administrative
Agent of (A) additional Revolving Commitments in a corresponding amount of such requested
increase from either existing Lenders and/or one or more other institutions that qualify as
Eligible Assignees (it being understood and agreed that no existing Lender shall be required
to provide an additional Revolving Commitment) and (B) documentation from each

23

 

institution providing an additional Revolving Commitment evidencing its additional
Revolving Commitment and its obligations under this Agreement in form and substance
acceptable to the Administrative Agent;

     (vi) the Administrative Agent shall have received all documents (including resolutions
of the board of directors of the Borrower and the Guarantors) it may reasonably request
relating to the corporate or other necessary authority for such increase and the validity of
such increase in the Aggregate Revolving Commitments, and any other matters relevant
thereto, all in form and substance reasonably satisfactory to the Administrative Agent; and

     (vii) if any Revolving Loans are outstanding at the time of the increase in the Aggregate
Revolving Commitments, the Borrower shall, if applicable, prepay one or more existing Revolving
Loans (such prepayment to be subject to Section 3.05) in an amount necessary such that
after giving effect to the increase in the Aggregate Revolving Commitments, each Lender will hold
its pro rata share (based on its Applicable Percentage of the increased Aggregate Revolving
Commitments) of outstanding Revolving Loans.

2.02 Borrowings, Conversions and Continuations of Loans.

     (a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation
of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative
Agent, which may be given by telephone. Each such notice must be received by the Administrative
Agent not later than 11:00 a.m. (i) three Business Days prior to the requested date of any
Borrowing of, conversion to or continuation of, Eurodollar Rate Loans or of any conversion of
Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base
Rate Loans. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must
be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice,
appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of,
conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $2,500,000
or a whole multiple of $500,000 in excess thereof. Except as provided in Sections 2.03(c)
and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal
amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Loan Notice (whether
telephonic or written) shall specify (i) whether the Borrower is requesting a Borrowing, a
conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii)
the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be
a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv)
the Type of Loans to be borrowed or to which existing Loans are to be converted, and (v) if
applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to
specify a Type of a Loan in a Loan Notice or if the Borrower fails to give a timely notice
requesting a conversion or continuation, then the applicable Loans shall be made as, or converted
to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the
last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate
Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate
Loans in any Loan Notice, but fails to specify an Interest Period, it will be deemed to have
specified an Interest Period of one month. Notwithstanding anything to the contrary herein, a
Swing Line Loan may not be converted to a Eurodollar Rate Loan.

     (b) Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each
Lender of the amount of its Applicable Percentage of the applicable Loans, and if no timely notice
of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify
each Lender of the details of any automatic conversion to Base Rate Loans as described in the
preceding subsection. In the case of a Borrowing, each Lender shall make the amount of its Loan
available to the Administrative Agent in immediately available funds at the Administrative Agent’s
Office not later than

24

 

1:00 p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of
the applicable conditions set forth in Section 5.02 (and, if such Borrowing is the initial
Credit Extension, Section 5.01), the Administrative Agent shall make all funds so received
available to the Borrower in like funds as received by the Administrative Agent either by (i)
crediting the account of the Borrower on the books of Bank of America with the amount of such funds
or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and
reasonably acceptable to) the Administrative Agent by the Borrower; provided,
however, that if, on the date of a Borrowing of Revolving Loans, there are L/C Borrowings
outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of
any such L/C Borrowings and second, shall be made available to the Borrower as provided
above.

     (c) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted
only on the last day of the Interest Period for such Eurodollar Rate Loan. During the existence of
a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without
the consent of the Required Lenders, and the Required Lenders may demand that any or all of the
then outstanding Eurodollar Rate Loans be converted immediately to Base Rate Loans.

     (d) The Administrative Agent shall promptly notify the Borrower and the Lenders of the
interest rate applicable to any Interest Period for Eurodollar Rate Loans upon determination of
such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent
shall notify the Borrower and the Lenders of any change in Bank of America’s prime rate used in
determining the Base Rate promptly following the public announcement of such change.

     (e) After giving effect to all Borrowings, all conversions of Loans from one Type to the
other, and all continuations of Loans as the same Type, there shall not be more than ten Interest
Periods in effect with respect to the Loans.

2.03  Letters of Credit.

     (a) The Letter of Credit Commitment.

     (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in
reliance upon the agreements of the Lenders set forth in this Section 2.03, (1) from
time to time on any Business Day during the period from the Closing Date until the Letter of
Credit Expiration Date, to issue Letters of Credit in Dollars for the account of the
Borrower or any of its Subsidiaries, and to amend or extend Letters of Credit previously
issued by it, in accordance with subsection (b) below, and (2) to honor drawings under the
Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit
issued for the account of the Borrower or its Subsidiaries and any drawings thereunder;
provided that after giving effect to any L/C Credit Extension with respect to any
Letter of Credit, (x) the Total Revolving Outstandings shall not exceed the Aggregate
Revolving Commitments, (y) the aggregate Outstanding Amount of the Revolving Loans of any
Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all
L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount
of all Swing Line Loans shall not exceed such Lender’s Revolving Commitment and (z) the
Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit.
Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be
deemed to be a representation by the Borrower that the L/C Credit Extension so requested
complies with the conditions set forth in the proviso to the preceding sentence. Within the
foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to
obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during
the foregoing period, obtain Letters of Credit to replace Letters of Credit that have
expired or that have been drawn upon and reimbursed.

25

 

     (ii) The L/C Issuer shall not issue any Letter of Credit if:

     (A) subject to Section 2.03(b)(iii), the expiry date of such requested
Letter of Credit would occur more than twelve months after the date of issuance or
last extension, unless the Lenders (other than Defaulting Lenders) holding a
majority of the Revolving Commitments have approved such expiry date; or

     (B) the expiry date of such requested Letter of Credit would occur after the
Letter of Credit Expiration Date, unless all the Lenders that have Revolving
Commitments have approved such expiry date.

     (iii) The L/C Issuer shall not be under any obligation to issue any Letter of Credit
if:

     (A) any order, judgment or decree of any Governmental Authority or arbitrator
shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such
Letter of Credit, or any Law applicable to the L/C Issuer or any request or
directive (whether or not having the force of law) from any Governmental Authority
with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer
refrain from, the issuance of letters of credit generally or such Letter of Credit
in particular or shall impose upon the L/C Issuer with respect to such Letter of
Credit any restriction, reserve or capital requirement (for which the L/C Issuer is
not otherwise compensated hereunder) not in effect on the Closing Date, or shall
impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not
applicable on the Closing Date and which the L/C Issuer in good faith deems material
to it;

     (B) the issuance of such Letter of Credit would violate one or more policies of
the L/C Issuer applicable to borrowers generally;

     (C) except as otherwise agreed by the Administrative Agent and the L/C Issuer,
such Letter of Credit is in an initial stated amount less than $200,000;

     (D) such Letter of Credit is to be denominated in a currency other than
Dollars;

     (E) such Letter of Credit contains any provisions for automatic reinstatement
of the stated amount after any drawing thereunder; or

     (F) any Lender is at that time a Defaulting Lender, unless the L/C Issuer has
entered into arrangements, including the delivery of Cash Collateral, satisfactory
to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to
eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving
effect to Section 2.15(a)(iv)) with respect to the Defaulting Lender arising
from either the Letter of Credit then proposed to be issued or that Letter of Credit
and all other L/C Obligations as to which the L/C Issuer has actual or potential
Fronting Exposure, as it may elect in its sole discretion.

     (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be
permitted at such time to issue the Letter of Credit in its amended form under the terms
hereof.

26

 

     (v) The L/C Issuer shall be under no obligation to amend any Letter of Credit if (A)
the L/C Issuer would have no obligation at such time to issue the Letter of Credit in its
amended form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not
accept the proposed amendment to the Letter of Credit.

     (vi) The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith, and the L/C Issuer shall have
all of the benefits and immunities (A) provided to the Administrative Agent in Article
X with respect to any acts taken or omissions suffered by the L/C Issuer in connection
with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents
pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used
in Article X included the L/C Issuer with respect to such acts or omissions, and (B)
as additionally provided herein with respect to the L/C Issuer.

     (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit.

     (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative
Agent) in the form of a Letter of Credit Application, appropriately completed and signed by
a Responsible Officer of the Borrower. Such Letter of Credit Application must be received
by the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least five
Business Days (or such later date and time as the Administrative Agent and the L/C Issuer
may agree in a particular instance in their sole discretion) prior to the proposed issuance
date or date of amendment, as the case may be. In the case of a request for an initial
issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and
detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested
Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry
date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be
presented by such beneficiary in case of any drawing thereunder; (F) the full text of any
certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the
purpose and nature of the requested Letter of Credit; and (H) such other matters as the L/C
Issuer may require. In the case of a request for an amendment of any outstanding Letter of
Credit, such Letter of Credit Application shall specify in form and detail satisfactory to
the L/C Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment
thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D)
such other matters as the L/C Issuer may require. Additionally, the Borrower shall furnish
to the L/C Issuer and the Administrative Agent such other documents and information
pertaining to such requested Letter of Credit issuance or amendment, including any Issuer
Documents, as the L/C Issuer or the Administrative Agent may require.

     (ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer will
confirm with the Administrative Agent (by telephone or in writing) that the Administrative
Agent has received a copy of such Letter of Credit Application from the Borrower and, if
not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the
L/C Issuer has received written notice from any Lender, the Administrative Agent or any Loan
Party, at least one Business Day prior to the requested date of issuance or amendment of the
applicable Letter of Credit, that one or more applicable conditions contained in Article
V shall not be satisfied, then, subject to the terms and conditions hereof, the L/C
Issuer shall, on the requested date, issue a Letter of Credit for the account of the
Borrower or the applicable Subsidiary or enter into the applicable amendment, as the case
may be, in each case in accordance with the L/C Issuer’s usual and customary business
practices. Immediately upon the issuance of each Letter of Credit, each

27

 

Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount
equal to the product of such Lender’s Applicable Percentage times the amount of such
Letter of Credit.

     (iii) If the Borrower so requests in any applicable Letter of Credit Application, the
L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that has automatic
extension provisions (each, an “Auto-Extension Letter of Credit”); provided
that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such
extension at least once in each twelve-month period (commencing with the date of issuance of
such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a
day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed
upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C
Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for
any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders
shall be deemed to have authorized (but may not require) the L/C Issuer to permit the
extension of such Letter of Credit at any time to an expiry date not later than the Letter
of Credit Expiration Date; provided, however, that the L/C Issuer shall not
permit any such extension if (A) the L/C Issuer has determined that it would not be
permitted, or would have no obligation, at such time to issue such Letter of Credit in its
revised form (as extended) under the terms hereof (by reason of the provisions of clause
(ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which
may be by telephone or in writing) on or before the day that is seven Business Days before
the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders
have elected not to permit such extension or (2) from the Administrative Agent, any Lender
or the Borrower that one or more of the applicable conditions specified in Section
5.02 is not then satisfied, and in each case directing the L/C Issuer not to permit such
extension.

     (iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter
of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C
Issuer will also deliver to the Borrower and the Administrative Agent a true and complete
copy of such Letter of Credit or amendment.

     (c) Drawings and Reimbursements; Funding of Participations.

     (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of drawing
under such Letter of Credit, the L/C Issuer shall notify the Borrower and the Administrative
Agent thereof. Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under
a Letter of Credit (each such date, an “Honor Date”), the Borrower shall reimburse
the L/C Issuer through the Administrative Agent in an amount equal to the amount of such
drawing. If the Borrower fails to so reimburse the L/C Issuer by such time, the
Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the
unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s
Applicable Percentage thereof. In such event, the Borrower shall be deemed to have
requested a Borrowing of Revolving Loans that are Base Rate Loans to be disbursed on the
Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and
multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but
subject to the conditions set forth in Section 5.02 (other than the delivery of a
Loan Notice) and provided that, after giving effect to such Borrowing, the Total Revolving
Outstandings shall not exceed the Aggregate Revolving Commitments. Any notice given by the
L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be
given by telephone if immediately confirmed in writing; provided that the lack of
such an immediate confirmation shall not affect the conclusiveness or binding effect of such
notice.

28

 

     (ii) Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make
funds available (and the Administrative Agent may apply Cash Collateral provided for this
purpose) for the account of the L/C Issuer at the Administrative Agent’s Office in an amount
equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. on
the Business Day specified in such notice by the Administrative Agent, whereupon, subject to
the provisions of Section 2.03(c)(iii), each Lender that so makes funds available
shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The
Administrative Agent shall remit the funds so received to the L/C Issuer.

     (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a
Borrowing of Revolving Loans that are Base Rate Loans because the conditions set forth in
Section 5.02 cannot be satisfied or for any other reason, the Borrower shall be
deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the
Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable
on demand (together with interest) and shall bear interest at the Default Rate. In such
event, each Lender’s payment to the Administrative Agent for the account of the L/C Issuer
pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its
participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in
satisfaction of its participation obligation under this Section 2.03.

     (iv) Until each Lender funds its Revolving Loan or L/C Advance pursuant to this
Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of
Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be
solely for the account of the L/C Issuer.

     (v) Each Lender’s obligation to make Revolving Loans or L/C Advances to reimburse the
L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section
2.03(c), shall be absolute and unconditional and shall not be affected by any
circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right
which such Lender may have against the L/C Issuer, the Borrower or any other Person for any
reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other
occurrence, event or condition, whether or not similar to any of the foregoing;
provided, however, that each Lender’s obligation to make Revolving Loans
pursuant to this Section 2.03(c) is subject to the conditions set forth in
Section 5.02 (other than delivery by the Borrower of a Loan Notice). No such making
of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to
reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any
Letter of Credit, together with interest as provided herein.

     (vi) If any Lender fails to make available to the Administrative Agent for the account
of the L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing
provisions of this Section 2.03(c) by the time specified in Section
2.03(c)(ii), then, without limiting the other provisions of this Agreement, the L/C
Issuer shall be entitled to recover from such Lender (acting through the Administrative
Agent), on demand, such amount with interest thereon for the period from the date such
payment is required to the date on which such payment is immediately available to the L/C
Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate
determined by the L/C Issuer in accordance with banking industry rules on interbank
compensation, plus any administrative, processing or similar fees customarily charged by the
L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest
and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan
included in the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing,
as the case may be. A certificate of the L/C Issuer submitted to any Lender (through the

29

 

Administrative Agent) with respect to any amounts owing under this clause (vi) shall be
conclusive absent manifest error.

     (d) Repayment of Participations.

     (i) At any time after the L/C Issuer has made a payment under any Letter of Credit and
has received from any Lender such Lender’s L/C Advance in respect of such payment in
accordance with Section 2.03(c), if the Administrative Agent receives for the
account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or
interest thereon (whether directly from the Borrower or otherwise, including proceeds of
cash collateral applied thereto by the Administrative Agent), the Administrative Agent will
distribute to such Lender its Applicable Percentage thereof in the same funds as those
received by the Administrative Agent.

     (ii) If any payment received by the Administrative Agent for the account of the L/C
Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the
circumstances described in Section 11.05 (including pursuant to any settlement
entered into by the L/C Issuer in its discretion), each Lender shall pay to the
Administrative Agent for the account of the L/C Issuer its Applicable Percentage thereof on
demand of the Administrative Agent, plus interest thereon from the date of such demand to
the date such amount is returned by such Lender, at a rate per annum equal to the Federal
Funds Rate from time to time in effect. The obligations of the Lenders under this clause
shall survive the payment in full of the Obligations and the termination of this Agreement.

     (e) Obligations Absolute. The obligation of the Borrower to reimburse the L/C Issuer
for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute,
unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this
Agreement under all circumstances, including the following:

     (i) any lack of validity or enforceability of such Letter of Credit, this Agreement or
any other Loan Document;

     (ii) the existence of any claim, counterclaim, setoff, defense or other right that any
Loan Party or any Subsidiary may have at any time against any beneficiary or any transferee
of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee
may be acting), the L/C Issuer or any other Person, whether in connection with this
Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement
or instrument relating thereto, or any unrelated transaction;

     (iii) any draft, demand, certificate or other document presented under such Letter of
Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any
statement therein being untrue or inaccurate in any respect; or any loss or delay in the
transmission or otherwise of any document required in order to make a drawing under such
Letter of Credit;

     (iv) any payment by the L/C Issuer under such Letter of Credit against presentation of
a draft or certificate that does not strictly comply with the terms of such Letter of
Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person
purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of
creditors, liquidator, receiver or other representative of or successor to any beneficiary
or any transferee of such Letter of Credit, including any arising in connection with any
proceeding under any Debtor Relief Law; or

30

 

     (v) any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including any other circumstance that might otherwise constitute a defense
available to, or a discharge of, any Loan Party or any Subsidiary.

The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that
is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions
or other irregularity, the Borrower will immediately notify the L/C Issuer. The Borrower shall be
conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents
unless such notice is given as aforesaid.

     (f) Role of L/C Issuer. Each Lender and the Borrower agree that, in paying any
drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any
document (other than any sight draft, certificates and documents expressly required by such Letter
of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the
authority of the Person executing or delivering any such document. None of the L/C Issuer, the
Administrative Agent, any of their respective Related Parties nor any correspondent, participant or
assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in
connection herewith at the request or with the approval of the Lenders or the Required Lenders, as
applicable; (ii) any action taken or omitted in the absence of gross negligence or willful
misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document
or instrument related to any Letter of Credit or Issuer Document. The Borrower hereby assumes all
risks of the acts or omissions of any beneficiary or transferee with respect to its use of any
Letter of Credit; provided, however, that this assumption is not intended to, and
shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the
beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the
Administrative Agent, any of their respective Related Parties nor any correspondent, participant or
assignee of the L/C Issuer shall be liable or responsible for any of the matters described in
clauses (i) through (v) of Section 2.03(e); provided, however, that
anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the
L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but only to the
extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower
which the Borrower proves were caused by the L/C Issuer’s willful misconduct or gross negligence or
the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by
the beneficiary of a sight draft and certificate(s) strictly complying with the terms and
conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C
Issuer may accept documents that appear on their face to be in order, without responsibility for
further investigation, regardless of any notice or information to the contrary, and the L/C Issuer
shall not be responsible for the validity or sufficiency of any instrument transferring or
assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits
thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective
for any reason.

     (g) Applicability of ISP. Unless otherwise expressly agreed by the L/C Issuer and the
Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each Letter of
Credit.

     (h) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the
account of each Lender in accordance with its Applicable Percentage a Letter of Credit fee (the
“Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate
times the daily amount available to be drawn under such Letter of Credit; provided,
however, any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender
with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash
Collateral satisfactory to the L/C Issuer pursuant to this Section 2.03 shall be payable,
to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the
upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit
pursuant to Section 2.15(a)(iv), with the balance of such fee, if any, payable to the L/C
Issuer for its own account.

31

 

For purposes of computing the daily amount available to be drawn under any Letter of Credit,
the amount of such Letter of Credit shall be determined in accordance with Section 1.06.
Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each
March, June, September and December, commencing with the first such date to occur after the
issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand
and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate
during any quarter, the daily amount available to be drawn under each Letter of Credit shall be
computed and multiplied by the Applicable Rate separately for each period during such quarter that
such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein,
upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit
Fees shall accrue at the Default Rate.

     (i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The
Borrower shall pay directly to the L/C Issuer for its own account a fronting fee with respect to
each Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the daily
amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such
fronting fee shall be due and payable on the tenth Business Day after the end of each March, June,
September and December in respect of the most recently-ended quarterly period (or portion thereof,
in the case of the first payment), commencing with the first such date to occur after the issuance
of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For
purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount
of such Letter of Credit shall be determined in accordance with Section 1.06. In addition,
the Borrower shall pay directly to the L/C Issuer for its own account the customary issuance,
presentation, amendment and other processing fees, and other standard costs and charges, of the L/C
Issuer relating to letters of credit as from time to time in effect. Such customary fees and
standard costs and charges are due and payable on demand and are nonrefundable.

     (j) Conflict with Issuer Documents. In the event of any conflict between the terms
hereof and the terms of any Issuer Document, the terms hereof shall control.

     (k) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of
Credit issued or outstanding hereunder is in support of any obligations of, or is for the account
of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and
all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of
Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that
the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

2.04 Swing Line Loans.

     (a) Swing Line Facility. Subject to the terms and conditions set forth herein, the
Swing Line Lender, in reliance upon the agreements of the other Lenders set forth in this
Section 2.04, may in its sole discretion make loans (each such loan, a “Swing Line
Loan”) to the Borrower in Dollars from time to time on any Business Day during the Availability
Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line
Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable
Percentage of the Outstanding Amount of Revolving Loans and L/C Obligations of the Lender acting as
Swing Line Lender, may exceed the amount of such Lender’s Revolving Commitment; provided,
however, that after giving effect to any Swing Line Loan, (i) the Total Revolving
Outstandings shall not exceed the Aggregate Revolving Commitments, and (ii) the aggregate
Outstanding Amount of the Revolving Loans of any Lender, plus such Lender’s Applicable
Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable
Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s
Revolving Commitment, and provided, further, that the Borrower shall not use the
proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing
limits, and subject to the other terms and

32

 

conditions hereof, the Borrower may borrow under this Section 2.04, prepay under
Section 2.05, and reborrow under this Section 2.04. Each Swing Line Loan shall
bear interest only at a rate based on the Base Rate. Immediately upon the making of a Swing Line
Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to,
purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal
to the product of such Lender’s Applicable Percentage times the amount of such Swing Line
Loan.

     (b) Borrowing Procedures. Each Borrowing of Swing Line Loans shall be made upon the
Borrower’s irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be
given by telephone. Each such notice must be received by the Swing Line Lender and the
Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify
(i) the amount to be borrowed, which shall be a minimum principal amount of $100,000 and integral
multiples of $100,000 in excess thereof, and (ii) the requested borrowing date, which shall be a
Business Day. Each such telephonic notice must be confirmed promptly by delivery to the Swing Line
Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed
and signed by a Responsible Officer of the Borrower. Promptly after receipt by the Swing Line
Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the
Administrative Agent (by telephone or in writing) that the Administrative Agent has also received
such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent
(by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received
notice (by telephone or in writing) from the Administrative Agent (including at the request of any
Lender) prior to 2:00 p.m. on the date of the proposed Borrowing of Swing Line Loans (A) directing
the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in
the first proviso to the first sentence of Section 2.04(a), or (B) that one or more of the
applicable conditions specified in Article V is not then satisfied, then, subject to the
terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing
date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to
the Borrower.

     (c) Refinancing of Swing Line Loans.

     (i) The Swing Line Lender at any time in its sole and absolute discretion may request,
on behalf of the Borrower (which hereby irrevocably authorizes the Swing Line Lender to so
request on its behalf), that each Lender make a Revolving Loan that is a Base Rate Loan in
an amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans
then outstanding. Such request shall be made in writing (which written request shall be
deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of
Section 2.02, without regard to the minimum and multiples specified therein for the
principal amount of Base Rate Loans, but subject to the conditions set forth in Section
5.02 (other than the delivery of a Loan Notice) and provided that, after giving
effect to such Borrowing, the Total Revolving Outstandings shall not exceed the Aggregate
Revolving Commitments. The Swing Line Lender shall furnish the Borrower with a copy of the
applicable Loan Notice promptly after delivering such notice to the Administrative Agent.
Each Lender shall make an amount equal to its Applicable Percentage of the amount specified
in such Loan Notice available to the Administrative Agent in immediately available funds
(and the Administrative Agent may apply Cash Collateral available with respect to the
applicable Swing Line Loan) for the account of the Swing Line Lender at the Administrative
Agent’s Office not later than 1:00 p.m. on the day specified in such Loan Notice, whereupon,
subject to Section 2.04(c)(ii), each Lender that so makes funds available shall be
deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative
Agent shall remit the funds so received to the Swing Line Lender.

33

 

     (ii) If for any reason any Swing Line Loan cannot be refinanced by such a Borrowing of
Revolving Loans in accordance with Section 2.04(c)(i), the request for Revolving
Loans that are Base Rate Loans submitted by the Swing Line Lender as set forth herein shall
be deemed to be a request by the Swing Line Lender that each of the Lenders fund its risk
participation in the relevant Swing Line Loan and each Lender’s payment to the
Administrative Agent for the account of the Swing Line Lender pursuant to Section
2.04(c)(i) shall be deemed payment in respect of such participation.

     (iii) If any Lender fails to make available to the Administrative Agent for the account
of the Swing Line Lender any amount required to be paid by such Lender pursuant to the
foregoing provisions of this Section 2.04(c) by the time specified in Section
2.04(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting
through the Administrative Agent), on demand, such amount with interest thereon for the
period from the date such payment is required to the date on which such payment is
immediately available to the Swing Line Lender at a rate per annum equal to the greater of
the Federal Funds Rate and a rate determined by the Swing Line Lender in accordance with
banking industry rules on interbank compensation, plus any administrative, processing or
similar fees customarily charged by the Swing Line Lender in connection with the foregoing.
If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid
shall constitute such Lender’s Revolving Loan included in the relevant Borrowing or funded
participation in the relevant Swing Line Loan, as the case may be. A certificate of the
Swing Line Lender submitted to any Lender (through the Administrative Agent) with respect to
any amounts owing under this clause (iii) shall be conclusive absent manifest error.

     (iv) Each Lender’s obligation to make Revolving Loans or to purchase and fund risk
participations in Swing Line Loans pursuant to this Section 2.04(c) shall be
absolute and unconditional and shall not be affected by any circumstance, including (A) any
setoff, counterclaim, recoupment, defense or other right that such Lender may have against
the Swing Line Lender, the Borrower or any other Person for any reason whatsoever, (B) the
occurrence or continuance of a Default, or (C) any other occurrence, event or condition,
whether or not similar to any of the foregoing; provided, however, that each
Lender’s obligation to make Revolving Loans pursuant to this Section 2.04(c) is
subject to the conditions set forth in Section 5.02. No such funding of risk
participations shall relieve or otherwise impair the obligation of the Borrower to repay
Swing Line Loans, together with interest as provided herein.

     (d) Repayment of Participations.

     (i) At any time after any Lender has purchased and funded a risk participation in a
Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line
Loan, the Swing Line Lender will distribute to such Lender its Applicable Percentage thereof
in the same funds as those received by the Swing Line Lender.

     (ii) If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line Lender under
any of the circumstances described in Section 11.05 (including pursuant to any
settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay
to the Swing Line Lender its Applicable Percentage thereof on demand of the Administrative
Agent, plus interest thereon from the date of such demand to the date such amount is
returned, at a rate per annum equal to the Federal Funds Rate. The Administrative Agent
will make such demand upon the request of the Swing Line Lender. The obligations of the
Lenders under this clause shall survive the payment in full of the Obligations and the
termination of this Agreement.

34

 

     (e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be
responsible for invoicing the Borrower for interest on the Swing Line Loans. Until each Lender
funds its Revolving Loans that are Base Rate Loans or risk participation pursuant to this
Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan,
interest in respect of such Applicable Percentage shall be solely for the account of the Swing Line
Lender.

     (f) Payments Directly to Swing Line Lender. The Borrower shall make all payments of
principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender.

2.05 Prepayments.

     (a) Voluntary Prepayments of Loans.

     (i) The Borrower may, upon notice from the Borrower to the Administrative Agent, at any
time or from time to time voluntarily prepay Revolving Loans in whole or in part without
premium or penalty; provided that (A) such notice must be received by the
Administrative Agent not later than 12:00 noon (1) three Business Days prior to any date of
prepayment of Eurodollar Rate Loans and (2) on the date of prepayment of Base Rate Loans;
(B) any such prepayment of Eurodollar Rate Loans shall be in a principal amount of
$2,500,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire
principal amount thereof then outstanding); and (C) any prepayment of Base Rate Loans shall
be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or,
if less, the entire principal amount thereof then outstanding). Each such notice shall
specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and,
if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The
Administrative Agent will promptly notify each Lender of its receipt of each such notice,
and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice
is given by the Borrower, the Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein. Any
prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the
amount prepaid, together with any additional amounts required pursuant to Section
3.05. Subject to Section 2.15, each such prepayment shall be applied to the
Loans of the Lenders in accordance with their respective Applicable Percentages.

     (ii) Swing Line Loans. The Borrower may, upon notice to the Swing Line Lender
(with a copy to the Administrative Agent), at any time or from time to time, voluntarily
prepay Swing Line Loans in whole or in part without premium or penalty; provided
that (i) such notice must be received by the Swing Line Lender and the Administrative Agent
not later than 1:00 p.m. on the date of the prepayment, and (ii) any such prepayment shall
be in a minimum principal amount of $100,000 or a whole multiple of $100,000 in excess
thereof (or, if less, the entire principal thereof then outstanding). Each such notice
shall specify the date and amount of such prepayment. If such notice is given by the
Borrower, the Borrower shall make such prepayment and the payment amount specified in such
notice shall be due and payable on the date specified therein.

     (b) Mandatory Prepayments of Loans.

     (i) Revolving Commitments. If for any reason the Total Revolving Outstandings
at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall
immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C
Obligations in an aggregate amount equal to such excess; provided, however,
that the Borrower

35

 

shall not be required to Cash Collateralize the L/C Obligations pursuant to this
Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and
Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments
then in effect.

     (ii) Application of Mandatory Prepayments. All amounts required to be paid
pursuant to this Section 2.05(b) shall be applied first, ratably to the L/C
Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans,
and, third, to Cash Collateralize the remaining L/C Obligations.

Within the parameters of the applications set forth above, prepayments shall be applied
first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest
Period maturities. All prepayments under this Section 2.05(b) shall be subject to
Section 3.05, but otherwise without premium or penalty, and shall be accompanied by
interest on the principal amount prepaid through the date of prepayment.

2.06 Termination or Reduction of Aggregate Revolving Commitments.

     The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving
Commitments, or from time to time permanently reduce the Aggregate Revolving Commitments to an
amount not less than the Total Revolving Outstandings; provided that (i) any such notice
shall be received by the Administrative Agent not later than 12:00 noon five Business Days prior to
the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate
amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) if, after
giving effect to any reduction of the Aggregate Revolving Commitments, the Letter of Credit
Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving Commitments, such
sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent
will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate
Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to
the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued
with respect thereto until the effective date of any termination of the Aggregate Revolving
Commitments shall be paid on the effective date of such termination.

2.07 Repayment of Loans.

     (a) Revolving Loans. The Borrower shall repay to the Lenders on the Maturity Date the
aggregate principal amount of all Revolving Loans outstanding on such date.

     (b) Swing Line Loans. The Borrower shall repay each Swing Line Loan on the Maturity
Date.

2.08 Interest.

     (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall
bear interest on the outstanding principal amount thereof for each Interest Period at a rate per
annum equal to the sum of the Eurodollar Rate for such Interest Period plus the Applicable
Rate; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from
the applicable borrowing date at a rate per annum equal to the Base Rate plus the
Applicable Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding principal
amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate
plus the Applicable Rate.

     (b) (i) If any amount of principal of any Loan is not paid when due (without regard to any
applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount
shall

36

 

thereafter bear interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws.

     (ii) If any amount (other than principal of any Loan) payable by the Borrower under any
Loan Document is not paid when due (after the expiration of any applicable grace periods),
whether at stated maturity, by acceleration or otherwise, then upon the written request of
the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest
rate per annum at all times equal to the Default Rate to the fullest extent permitted by
applicable Laws.

     (iii) Upon the written request of the Required Lenders, while any Event of Default
exists, the Borrower shall pay interest on the principal amount of all outstanding
Obligations hereunder at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws.

     (iv) Accrued and unpaid interest on past due amounts (including interest on past due
interest) shall be due and payable upon demand.

     (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified herein. Interest hereunder shall be
due and payable in accordance with the terms hereof before and after judgment, and before and after
the commencement of any proceeding under any Debtor Relief Law.

2.09 Fees.

     In addition to certain fees described in subsections (h) and (i) of Section 2.03:

     (a) Commitment Fee. The Borrower shall pay to the Administrative Agent, for the
account of each Lender in accordance with its Applicable Percentage, a commitment fee equal to the
product of (i) the Applicable Rate times (ii) the actual daily amount by which the
Aggregate Revolving Commitments exceed the sum of (y) the Outstanding Amount of Revolving Loans and
(z) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section
2.15. The commitment fee shall accrue at all times during the Availability Period, including at
any time during which one or more of the conditions in Article V is not met, and shall be
due and payable quarterly in arrears on the last Business Day of each March, June, September and
December, commencing with the first such date to occur after the Closing Date, and on the last day
of the Availability Period. The commitment fee shall be calculated quarterly in arrears, and if
there is any change in the Applicable Rate during any quarter, the actual daily amount shall be
computed and multiplied by the Applicable Rate separately for each period during such quarter that
such Applicable Rate was in effect. For purposes of clarification, Swing Line Loans shall not be
considered outstanding for purposes of determining the unused portion of the Aggregate Revolving
Commitments.

     (b) Fee Letter. The Borrower shall pay to the Arranger and the Administrative Agent
for their own respective accounts fees in the amounts and at the times specified in the Fee Letter.
Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

2.10 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate.

     (a) All computations of interest for Base Rate Loans (including Base Rate Loans determined by
reference to the Eurodollar Base Rate) shall be made on the basis of a year of 365 or 366 days, as
the case may be, and actual days elapsed. All other computations of fees and interest shall be
made on the basis of a 360-day year and actual days elapsed (which results in more fees or
interest, as applicable,

37

 

being paid than if computed on the basis of a 365-day year). Interest shall accrue on each
Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof,
for the day on which the Loan or such portion is paid, provided that any Loan that is
repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest
for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder
shall be conclusive and binding for all purposes, absent manifest error.

     (b) If, as a result of any restatement of or other adjustment to the financial statements of
the Borrower or for any other reason, the Borrower or the Lenders determine that (i) the
Consolidated Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate
and (ii) a proper calculation of the Consolidated Leverage Ratio would have resulted in higher
pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to
the Administrative Agent for the account of the applicable Lenders or the L/C Issuer, as the case
may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or
deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the
United States, automatically and without further action by the Administrative Agent, any Lender or
the L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have
been paid for such period over the amount of interest and fees actually paid for such period. This
paragraph shall not limit the rights of the Administrative Agent, any Lender or the L/C Issuer, as
the case may be, under Section 2.03(c)(iii), 2.03(h) or 2.08(b) or under
Article IX.

2.11 Evidence of Debt.

     (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or
records maintained by such Lender and by the Administrative Agent in the ordinary course of
business. The accounts or records maintained by the Administrative Agent and each Lender shall be
conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrower and the interest and payments thereon. Any failure to so record or any error in doing so
shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any
amount owing with respect to the Obligations. In the event of any conflict between the accounts
and records maintained by any Lender and the accounts and records of the Administrative Agent in
respect of such matters, the accounts and records of the Administrative Agent shall control in the
absence of manifest error. Upon the request of any Lender made through the Administrative Agent,
the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a
promissory note, which shall evidence such Lender’s Loans in addition to such accounts or records.
Each such promissory note shall be in the form of Exhibit 2.11(a) (a “Note”). Each
Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount
and maturity of its Loans and payments with respect thereto.

     (b) In addition to the accounts and records referred to in subsection (a), each Lender and the
Administrative Agent shall maintain in accordance with its usual practice accounts or records
evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing
Line Loans. In the event of any conflict between the accounts and records maintained by the
Administrative Agent and the accounts and records of any Lender in respect of such matters, the
accounts and records of the Administrative Agent shall control in the absence of manifest error.

2.12 Payments Generally; Administrative Agent’s Clawback.

     (a) General. All payments to be made by the Borrower shall be made without condition
or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly
provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent,
for the account of the respective Lenders to which such payment is owed, at the Administrative
Agent’s Office in

38

 

Dollars and in immediately available funds not later than 2:00 p.m. on the date specified
herein. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage
(or other applicable share as provided herein) of such payment in like funds as received by wire
transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after
2:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest
or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day
other than a Business Day, payment shall be made on the next following Business Day, and such
extension of time shall be reflected in computing interest or fees, as the case may be.

(b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the
Administrative Agent shall have received notice from a Lender prior to the proposed date of
any Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans,
prior to 12:00 noon on the date of such Borrowing) that such Lender will not make available
to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent
may assume that such Lender has made such share available on such date in accordance with
Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Lender
has made such share available in accordance with and at the time required by Section
2.02) and may, in reliance upon such assumption, make available to the Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share of the
applicable Borrowing available to the Administrative Agent, then the applicable Lender and
the Borrower severally agree to pay to the Administrative Agent forthwith on demand such
corresponding amount in immediately available funds with interest thereon, for each day from
and including the date such amount is made available to the Borrower to but excluding the
date of payment to the Administrative Agent, at (A) in the case of a payment to be made by
such Lender, the greater of the Federal Funds Rate and a rate determined by the
Administrative Agent in accordance with banking industry rules on interbank compensation,
plus any administrative, processing or similar fees customarily charged by the
Administrative Agent in connection with the foregoing, and (B) in the case of a payment to
be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower
and such Lender shall pay such interest to the Administrative Agent for the same or an
overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount
of such interest paid by the Borrower for such period. If such Lender pays its share of the
applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute
such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without
prejudice to any claim the Borrower may have against a Lender that shall have failed to make
such payment to the Administrative Agent.

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

39

 

     A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount
owing under this subsection (b) shall be conclusive, absent manifest error.

     (c) Failure to Satisfy Conditions Precedent. If any Lender makes available to the
Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this Article II, and such funds are not made available to the Borrower by the
Administrative Agent because the conditions to the applicable Credit Extension set forth in
Article V are not satisfied or waived in accordance with the terms hereof, the
Administrative Agent shall return such funds (in like funds as received from such Lender) to such
Lender, without interest.

     (d) Obligations of Lenders Several. The obligations of the Lenders hereunder to make
Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments
pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to make
any Loan, to fund any such participation or to make any payment under Section 11.04(c) on
any date required hereunder shall not relieve any other Lender of its corresponding obligation to
do so on such date, and no Lender shall be responsible for the failure of any other Lender to so
make its Loan, to purchase its participation or to make its payment under Section 11.04(c).

     (e) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain
the funds for any Loan in any particular place or manner or to constitute a representation by any
Lender that it has obtained or will obtain the funds for any Loan in any particular place or
manner.

     (f) Insufficient Funds. If at any time insufficient funds are received by and
available to the Administrative Agent to pay fully all amounts of principal, L/C Borrowings,
interest and fees then due hereunder, such funds shall be applied (i) first, toward payment
of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance
with the amounts of interest and fees then due to such parties, and (ii) second, toward
payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of principal and L/C Borrowings then due to such parties.

2.13 Sharing of Payments by Lenders.

     If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of the Loans made by it, or the
participations in L/C Obligations or in Swing Line Loans held by it resulting in such Lender’s
receiving payment of a proportion of the aggregate amount of such Loans or participations and
accrued interest thereon greater than its pro rata share thereof as provided
herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent
of such fact, and (b) purchase (for cash at face value) participations in the Loans and
subparticipations in L/C Obligations and Swing Line Loans of the other Lenders, or make such other
adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the
Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on
their respective Loans and other amounts owing them, provided that:

     (i) if any such participations or subparticipations are purchased and all or any
portion of the payment giving rise thereto is recovered, such participations or
subparticipations shall be rescinded and the purchase price restored to the extent of such
recovery, without interest; and

     (ii) the provisions of this Section shall not be construed to apply to (A) any payment
made by or on behalf of the Borrower pursuant to and in accordance with the express terms of
this Agreement (including the application of funds arising from the existence of a
Defaulting

40

 

Lender), (B) the application of Cash Collateral provided for in Section 2.14,
or (C) any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans or subparticipations in L/C Obligations or Swing Line
Loans to any assignee or participant, other than an assignment to any Loan Party or any
Subsidiary thereof (as to which the provisions of this Section shall apply).

     Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so
under applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to
such participation as fully as if such Lender were a direct creditor of such Loan Party in the
amount of such participation.

2.14 Cash Collateral.

     (a) Certain Credit Support Events. Upon the written request of the Administrative
Agent or the L/C Issuer (i) if the L/C Issuer has honored any full or partial drawing request under
any Letter of Credit and such drawing has resulted in an L/C Borrowing, or (ii) if, as of the
Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the
Borrower shall, in each case, promptly Cash Collateralize the then Outstanding Amount of all L/C
Obligations. At any time that there shall exist a Defaulting Lender, promptly upon the written
request of the Administrative Agent, the L/C Issuer or the Swing Line Lender, the Borrower shall
deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting
Exposure (after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by
the Defaulting Lender).

     (b) Grant of Security Interest. All Cash Collateral (other than credit support not
constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing (or in
the case of Cash Collateral deposited by the Borrower, blocked, interest-bearing) deposit accounts
at Bank of America. The Borrower, and to the extent provided by any Lender, such Lender, hereby
grants to (and subjects to the control of) the Administrative Agent, for the benefit of the
Administrative Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), and agrees
to maintain, a first priority security interest in all such cash, deposit accounts and all balances
therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of
the foregoing, all as security for the obligations to which such Cash Collateral may be applied
pursuant to Section 2.14(c). If at any time the Administrative Agent determines that Cash
Collateral is subject to any right or claim of any Person other than the Administrative Agent as
herein provided, or that the total amount of such Cash Collateral is less than the applicable
Fronting Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting
Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative
Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency.

     (c) Application. Notwithstanding anything to the contrary contained in this
Agreement, Cash Collateral provided under any of this Section 2.14 or Sections
2.03, 2.04, 2.05, 2.15 or 9.02 in respect of Letters of Credit
or Swing Line Loans shall be held and applied to the satisfaction of the specific L/C Obligations,
Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral
provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for
which the Cash Collateral was so provided, prior to any other application of such property as may
be provided for herein.

     (d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce
Fronting Exposure or other obligations shall be released promptly following (i) the elimination of
the applicable Fronting Exposure or other obligations giving rise thereto (including by the
termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee
following compliance with Section 11.06(b)(vi))) or (ii) the Administrative Agent’s good
faith determination that there exists excess Cash

41

 

Collateral; provided, however, (x) that Cash Collateral furnished by or on behalf
of a Loan Party shall not be released during the continuance of a Default or Event of Default (and
following application as provided in this Section 2.14 may be otherwise applied in
accordance with Section 9.03), and (y) the Person providing Cash Collateral and the L/C
Issuer or Swing Line Lender, as applicable, may agree that Cash Collateral shall not be released
but instead held to support future anticipated Fronting Exposure or other obligations.

2.15 Defaulting Lenders.

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

     (i) Waivers and Amendments. That Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in Section 11.01.

     (ii) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of that Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Article IX or otherwise,
and including any amounts made available to the Administrative Agent by that Defaulting
Lender pursuant to Section 11.08), shall be applied at such time or times as may be
determined by the Administrative Agent as follows: first, to the payment of any
amounts owing by that Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by that Defaulting
Lender to the L/C Issuer or Swing Line Lender hereunder; third, if so determined by
the Administrative Agent or requested by the L/C Issuer or Swing Line Lender, to be held as
Cash Collateral for future funding obligations of that Defaulting Lender of any
participation in any Swing Line Loan or Letter of Credit; fourth, as the Borrower
may request (so long as no Default exists), to the funding of any Loan in respect of which
that Defaulting Lender has failed to fund its portion thereof as required by this Agreement,
as determined by the Administrative Agent; fifth, if so determined by the
Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account
and released in order to satisfy obligations of that Defaulting Lender to fund Loans under
this Agreement; sixth, to the payment of any amounts owing to the Lenders, the L/C
Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction
obtained by any Lender, the L/C Issuer or Swing Line Lender against that Defaulting Lender
as a result of that Defaulting Lender’s breach of its obligations under this Agreement;
seventh, so long as no Default exists, to the payment of any amounts owing to the
Borrower as a result of any judgment of a court of competent jurisdiction obtained by the
Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of
its obligations under this Agreement; and eighth, to that Defaulting Lender or as
otherwise directed by a court of competent jurisdiction; provided that if (x) such
payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of
which that Defaulting Lender has not fully funded its appropriate share and (y) such Loans
or L/C Borrowings were made at a time when the conditions set forth in Section 5.02
were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C
Borrowings owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to
the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any
payments, prepayments or other amounts paid or payable to a Defaulting Lender that are
applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral
pursuant to this Section 2.15(a)(ii) shall be deemed paid to and redirected by that
Defaulting Lender, and each Lender irrevocably consents hereto.

42

 

     (iii) Certain Fees. That Defaulting Lender (x) shall not be entitled to
receive any commitment fee pursuant to Section 2.09(a) for any period during which
that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such
fee that otherwise would have been required to have been paid to that Defaulting Lender) and
(y) shall be limited in its right to receive Letter of Credit Fees as provided in
Section 2.03(h).

     (iv) Reallocation of Applicable Percentages to Reduce Fronting Exposure.
During any period in which there is a Defaulting Lender, for purposes of computing the
amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund
participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03
and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be
computed without giving effect to the Revolving Commitment of that Defaulting Lender;
provided, that, (i) each such reallocation shall be given effect only if, at the
date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the
aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund
participations in Letters of Credit and Swing Line Loans shall not exceed the positive
difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender
minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.

     (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, the Swing Line
Lender and the L/C Issuer agree in writing in their sole discretion that a Defaulting Lender should
no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties
hereto, whereupon as of the effective date specified in such notice and subject to any conditions
set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or
take such other actions as the Administrative Agent may determine to be necessary to cause the
Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held
on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving
effect to Section 2.15(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender;
provided that no adjustments will be made retroactively with respect to fees accrued or
payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and
provided, further, that except to the extent otherwise expressly agreed by the
affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or
release of any claim of any party hereunder arising from that Lender’s having been a Defaulting
Lender.

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

3.01 Taxes.

     (a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. (i)
Any and all payments by or on account of any obligation of the Loan Parties hereunder or under any
other Loan Document shall to the extent permitted by applicable Laws be made free and clear of and
without reduction or withholding for any Taxes. If, however, applicable Laws require any Loan
Party or the Administrative Agent to withhold or deduct any Tax, such Tax shall be withheld or
deducted in accordance with such Laws as determined by such Loan Party or the Administrative Agent,
as the case may be, upon the basis of the information and documentation to be delivered pursuant to
subsection (e) below.

     (ii) If the Loan Parties or the Administrative Agent shall be required by the Internal
Revenue Code to withhold or deduct any Taxes, including both United States Federal backup
withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall

43

 

withhold or make such deductions as are determined by the Administrative Agent to be
required based upon the information and documentation it has received pursuant to subsection
(e) below, (B) the Administrative Agent shall timely pay the full amount withheld or
deducted to the relevant Governmental Authority in accordance with the Internal Revenue
Code, and (C) to the extent that the withholding or deduction is made on account of
Indemnified Taxes or Other Taxes, the sum payable by the Loan Parties shall be increased as
necessary so that after any required withholding or the making of all required deductions
(including deductions applicable to additional sums payable under this Section) the
Administrative Agent, any Lender or the L/C Issuer, as the case may be, receives an amount
equal to the sum it would have received had no such withholding or deduction been made.

     (b) Payment of Other Taxes by the Loan Parties. Without limiting the provisions of
subsection (a) above, the Loan Parties shall timely pay any Other Taxes to the relevant
Governmental Authority in accordance with applicable Laws.

     (c) Tax Indemnification. (i) Without limiting the provisions of subsection (a) or (b)
above, the Loan Parties shall, and do hereby, indemnify the Administrative Agent, each Lender and
the L/C Issuer, and shall make payment in respect thereof within ten days after written demand
therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes
or Other Taxes imposed or asserted on or attributable to amounts payable under this Section)
withheld or deducted by the Loan Parties or the Administrative Agent or paid by the Administrative
Agent, such Lender or the L/C Issuer, as the case may be, and any penalties, interest and
reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. The Loan Parties shall also, and do hereby, indemnify the Administrative Agent, and
shall make payment in respect thereof within ten days after written demand therefor, for any amount
which a Lender or the L/C Issuer for any reason fails to pay indefeasibly to the Administrative
Agent as required by clause (ii) of this subsection. A certificate as to the amount of any such
payment or liability delivered to the Borrower by a Lender or the L/C Issuer (with a copy to the
Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or
the L/C Issuer, shall be conclusive absent manifest error.

     (ii) Without limiting the provisions of subsection (a) or (b) above, each Lender and
the L/C Issuer shall, and does hereby, indemnify the Loan Parties and the Administrative
Agent, and shall make payment in respect thereof within ten days after written demand
therefor, against any and all Taxes and any and all related losses, claims, liabilities,
penalties, interest and expenses (including the fees, charges and disbursements of any
counsel for the Borrower or the Administrative Agent) incurred by or asserted against the
Borrower or the Administrative Agent by any Governmental Authority as a result of the
failure by such Lender or the L/C Issuer, as the case may be, to deliver, or as a result of
the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by
such Lender or the L/C Issuer, as the case may be, to the Borrower or the Administrative
Agent pursuant to subsection (e). Each Lender and the L/C Issuer hereby authorizes the
Administrative Agent to set off and apply any and all amounts at any time owing to such
Lender or the L/C Issuer, as the case may be, under this Agreement or any other Loan
Document against any amount due to the Administrative Agent under this clause (ii). The
agreements in this clause (ii) shall survive the resignation and/or replacement of the
Administrative Agent, any assignment of rights by, or the replacement of, a Lender or the
L/C Issuer, the termination of the Commitments and the repayment, satisfaction or discharge
of all other Obligations.

     (d) Evidence of Payments. Upon request by any Loan Party or the Administrative Agent,
as the case may be, after any payment of Taxes by such Loan Party or by the Administrative Agent to
a

44

 

Governmental Authority as provided in this Section 3.01, such Loan Party shall deliver
to the Administrative Agent or the Administrative Agent shall deliver to such Loan Party, as the
case may be, the original or a certified copy of a receipt issued by such Governmental Authority
evidencing such payment, a copy of any return required by Law to report such payment or other
evidence of such payment reasonably satisfactory to such Loan Party or the Administrative Agent, as
the case may be.

     (e) Status of Lenders; Tax Documentation. (i) Each Lender shall deliver to the
Borrower and to the Administrative Agent, at the time or times prescribed by applicable Laws or
when reasonably requested by the Borrower or the Administrative Agent, such properly completed and
executed documentation prescribed by applicable Laws or by the taxing authorities of any
jurisdiction and such other reasonably requested information as will permit the Borrower or the
Administrative Agent, as the case may be, to determine (A) whether or not payments made hereunder
or under any other Loan Document are subject to Taxes, (B) if applicable, the required rate of
withholding or deduction, and (C) such Lender’s entitlement to any available exemption from, or
reduction of, applicable Taxes in respect of all payments to be made to such Lender by the Borrower
pursuant to this Agreement or otherwise to establish such Lender’s status for withholding tax
purposes in the applicable jurisdiction.

     (ii) Without limiting the generality of the foregoing, if the Borrower is resident for
tax purposes in the United States,

     (A) any Lender that is a “United States person” within the meaning of Section
7701(a)(30) of the Internal Revenue Code shall deliver to the Borrower and the
Administrative Agent executed originals of Internal Revenue Service Form W-9 or such
other documentation or information prescribed by applicable Laws or reasonably
requested by the Borrower or the Administrative Agent as will enable the Borrower or
the Administrative Agent, as the case may be, to determine whether or not such
Lender is subject to backup withholding or information reporting requirements; and

     (B) each Foreign Lender that is entitled under the Internal Revenue Code or any
applicable treaty to an exemption from or reduction of withholding tax with respect
to payments hereunder or under any other Loan Document shall deliver to the Borrower
and the Administrative Agent (in such number of copies as shall be requested by the
recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the request of the
Borrower or the Administrative Agent, but only if such Foreign Lender is legally
entitled to do so), whichever of the following is applicable:

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

     (II) executed originals of Internal Revenue Service Form W-8ECI,

     (III) executed originals of Internal Revenue Service Form W-8IMY and
all required supporting documentation,

     (IV) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under section 881(c) of the Internal
Revenue Code, (x) a certificate to the effect that such Foreign Lender is
not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Internal
Revenue Code, (B) a “10 percent shareholder” of the Borrower within the
meaning of section

45

 

881(c)(3)(B) of the Internal Revenue Code, or (C) a “controlled foreign
corporation” described in section 881(c)(3)(C) of the Internal Revenue Code
and (y) executed originals of Internal Revenue Service Form W-8BEN, or

     (V) executed originals of any other form prescribed by applicable Laws
as a basis for claiming exemption from or a reduction in United States
Federal withholding tax together with such supplementary documentation as
may be prescribed by applicable Laws to permit the Borrower or the
Administrative Agent to determine the withholding or deduction required to
be made.

     (iii) Each Lender shall promptly (A) notify the Borrower and the Administrative Agent
of any change in circumstances which would modify or render invalid any claimed exemption or
reduction, and (B) take such steps as shall not be materially disadvantageous to it, in the
reasonable judgment of such Lender, and as may be reasonably necessary (including the
re-designation of its Lending Office) to avoid any requirement of applicable Laws of any
jurisdiction that the Borrower or the Administrative Agent make any withholding or deduction
for taxes from amounts payable to such Lender.

3.02 Illegality.

     If any Lender determines that any Law has made it unlawful, or that any Governmental Authority
has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain
or fund Loans whose interest is determined by reference to the Eurodollar Base Rate, or to
determine or charge interest rates based upon the Eurodollar Base Rate, or any Governmental
Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or
to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender
to the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or
continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be
suspended and (ii) if such notice asserts the illegality of such Lender making or maintaining Base
Rate Loans the interest rate on which is determined by reference to the Eurodollar Base Rate
component of the Base Rate, the interest rate on which Base Rate Loans of such Lender, shall, if
necessary to avoid such illegality, be determined by the Administrative Agent without reference to
the Eurodollar Base Rate component of the Base Rate, in each case until such Lender notifies the
Administrative Agent and the Borrower that the circumstances giving rise to such determination no
longer exist. Upon receipt of such notice, (x) the Borrower shall, upon written demand from such
Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all of such
Lender’s Eurodollar Rate Loans to Base Rate Loans (the interest rate on which Base Rate Loans of
such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent
without reference to the Eurodollar Base Rate component of the Base Rate), either on the last day
of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar
Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such
Eurodollar Rate Loans and (y) if such notice asserts the illegality of such Lender determining or
charging interest rates based upon the Eurodollar Base Rate, the Administrative Agent shall during
the period of such suspension compute the Base Rate applicable to such Lender without reference to
the Eurodollar Base Rate component thereof until the Administrative Agent is advised in writing by
such Lender that it is no longer illegal for such Lender to determine or charge interest rates
based upon the Eurodollar Base Rate. Upon any such prepayment or conversion, the Borrower shall
also pay accrued interest on the amount so prepaid or converted.

46

 

3.03 Inability to Determine Rates.

     If the Required Lenders determine that for any reason in connection with any request for a
Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not
being offered to banks in the London interbank eurodollar market for the applicable amount and
Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for
determining the Eurodollar Base Rate for any requested Interest Period with respect to a proposed
Eurodollar Rate Loan or in connection with an existing or proposed Base Rate Loan, or (c) the
Eurodollar Base Rate for any requested Interest Period with respect to a proposed Eurodollar Rate
Loan or in connection with a Eurodollar Rate Loan does not adequately and fairly reflect the cost
to such Lenders of funding such Loan, the Administrative Agent will promptly notify the Borrower
and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate
Loans shall be suspended and (y) in the event of a determination described in the preceding
sentence with respect to the Eurodollar Base Rate component of the Base Rate, the utilization of
the Eurodollar Base Rate component in determining the Base Rate shall be suspended, in each case
until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice.
Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of,
conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have
converted such request into a request for a Borrowing of Base Rate Loans in the amount specified
therein.

3.04 Increased Costs.

     (a) Increased Costs Generally. If any Change in Law shall:

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

     (ii) subject any Lender or the L/C Issuer to any tax of any kind whatsoever with
respect to this Agreement, any Letter of Credit, any participation in a Letter of Credit or
any Eurodollar Rate Loan made by it, or change the basis of taxation of payments to such
Lender or the L/C Issuer in respect thereof (except for Indemnified Taxes or Other Taxes
covered by Section 3.01 and the imposition of, or any change in the rate of, any
Excluded Tax payable by such Lender or the L/C Issuer); or

     (iii) impose on any Lender or the L/C Issuer or the London interbank market any other
condition, cost or expense affecting this Agreement or Eurodollar Rate Loans made by such
Lender or any Letter of Credit or participation therein;

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

47

 

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

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

     (d) Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer
to demand compensation pursuant to the foregoing provisions of this Section shall not constitute a
waiver of such Lender’s or the L/C Issuer’s right to demand such compensation.

3.05 Compensation for Losses.

     Upon written demand of any Lender (with a copy to the Administrative Agent) from time to time,
the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss,
cost or expense incurred by it as a result of:

     (a) any continuation, conversion, payment or prepayment of any Eurodollar Rate Loan on
a day other than the last day of the Interest Period for such Loan (whether voluntary,
mandatory, automatic, by reason of acceleration, or otherwise);

     (b) any failure by the Borrower (for a reason other than the failure of such Lender to
make a Loan) to prepay, borrow, continue or convert any Eurodollar Rate Loan on the date or
in the amount notified by the Borrower; or

     (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the
Interest Period therefor as a result of a request by the Borrower pursuant to Section
11.13; or

including any loss of anticipated profits and any loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the
deposits from which such funds were obtained. The Borrower shall also pay any customary
administrative fees charged by such Lender in connection with the foregoing.

     For purposes of calculating amounts payable by the Borrower to the Lenders under this
Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by
it at the Eurodollar Base Rate used in determining the Eurodollar Rate for such Loan by a matching
deposit or other borrowing in the London interbank eurodollar market for a comparable amount and
for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded.

48

 

3.06 Mitigation Obligations; Replacement of Lenders.

     (a) Designation of a Different Lending Office. If any Lender requests compensation
under Section 3.04, or the Borrower is required to pay any additional amount to any Lender,
the L/C Issuer, or any Governmental Authority for the account of any Lender or the L/C Issuer
pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02,
then such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a
different Lending Office for funding or booking its Loans hereunder or to assign its rights and
obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of
such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or
eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each
case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed cost
or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case
may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender
or the L/C Issuer in connection with any such designation or assignment.

     (b) Replacement of Lenders. If any Lender requests compensation under Section
3.04, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 3.01, the Borrower
may replace such Lender in accordance with Section 11.13.

3.07 Survival.

     All of the Loan Parties’ obligations under this Article III shall survive termination
of the Aggregate Revolving Commitments, repayment of all other Obligations hereunder, and
resignation of the Administrative Agent.

ARTICLE IV

GUARANTY

4.01 The Guaranty.

     Each of the Guarantors hereby jointly and severally guarantees to each Lender, the L/C Issuer,
each Affiliate of a Lender that enters into a Swap Contract or a Treasury Management Agreement with
any Loan Party or any Subsidiary, and the Administrative Agent as hereinafter provided, as primary
obligor and not as surety, the prompt payment of the Obligations in full when due (whether at
stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization
or otherwise) strictly in accordance with the terms thereof. The Guarantors hereby further agree
that if any of the Obligations are not paid in full when due (whether at stated maturity, as a
mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise), the
Guarantors will, jointly and severally, promptly pay the same, without any demand or notice
whatsoever, and that in the case of any extension of time of payment or renewal of any of the
Obligations, the same will be promptly paid in full when due (whether at extended maturity, as a
mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise) in
accordance with the terms of such extension or renewal.

     Notwithstanding any provision to the contrary contained herein or in any other of the Loan
Documents, Swap Contracts or Treasury Management Agreements, the obligations of each Guarantor
under

49

 

this Agreement and the other Loan Documents shall not exceed an aggregate amount equal to the
largest amount that would not render such obligations subject to avoidance under applicable Debtor
Relief Laws.

4.02 Obligations Unconditional.

     The obligations of the Guarantors under Section 4.01 are joint and several, absolute
and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability
of any of the Loan Documents or other documents relating to the Obligations, or any substitution,
release, impairment or exchange of any other guarantee of or security for any of the Obligations,
and, to the fullest extent permitted by applicable law, irrespective of any other circumstance
whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety
or guarantor, it being the intent of this Section 4.02 that the obligations of the
Guarantors hereunder shall be absolute and unconditional under any and all circumstances. Each
Guarantor agrees that such Guarantor shall have no right of subrogation, indemnity, reimbursement
or contribution against the Borrower or any other Guarantor for amounts paid under this Article
IV until such time as the Obligations have been paid in full and the Commitments have expired
or terminated. Without limiting the generality of the foregoing, it is agreed that, to the fullest
extent permitted by Law, the occurrence of any one or more of the following shall not alter or
impair the liability of any Guarantor hereunder, which shall remain absolute and unconditional as
described above:

     (a) at any time or from time to time, without notice to any Guarantor, the time for any
performance of or compliance with any of the Obligations shall be extended, or such
performance or compliance shall be waived;

     (b) any of the acts mentioned in any of the provisions of any of the Loan Documents or
other documents relating to the Obligations shall be done or omitted;

     (c) the maturity of any of the Obligations shall be accelerated, or any of the
Obligations shall be modified, supplemented or amended in any respect, or any right under
any of the Loan Documents or other documents relating to the Obligations shall be waived or
any other guarantee of any of the Obligations or any security therefor shall be released,
impaired or exchanged in whole or in part or otherwise dealt with;

     (d) any Lien granted to, or in favor of, the Administrative Agent or any other holder
of the Obligations as security for any of the Obligations shall fail to attach or be
perfected; or

     (e) any of the Obligations shall be determined to be void or voidable (including,
without limitation, for the benefit of any creditor of any Guarantor) or shall be
subordinated to the claims of any Person (including, without limitation, any creditor of any
Guarantor).

     With respect to its obligations hereunder, each Guarantor hereby expressly waives diligence,
presentment, demand of payment, protest and all notices whatsoever, and any requirement that the
Administrative Agent or any other holder of the Obligations exhaust any right, power or remedy or
proceed against any Person under any of the Loan Documents or any other document relating to the
Obligations, or against any other Person under any other guarantee of, or security for, any of the
Obligations.

4.03 Reinstatement.

     The obligations of the Guarantors under this Article IV shall be automatically
reinstated if and to the extent that for any reason any payment by or on behalf of any Person in
respect of the Obligations is rescinded or must be otherwise restored by any holder of any of the
Obligations, whether as a result of any Debtor Relief Law or otherwise, and each Guarantor agrees
that it will indemnify the Administrative Agent

50

 

and each other holder of the Obligations on demand for all reasonable costs and expenses
(including, without limitation, the fees, charges and disbursements of counsel) incurred by the
Administrative Agent or such holder of the Obligations in connection with such rescission or
restoration, including any such costs and expenses incurred in defending against any claim alleging
that such payment constituted a preference, fraudulent transfer or similar payment under any Debtor
Relief Law.

4.04 Certain Additional Waivers.

     Each Guarantor agrees that such Guarantor shall have no right of recourse to security for the
Obligations, except through the exercise of rights of subrogation pursuant to Section 4.02
and through the exercise of rights of contribution pursuant to Section 4.06.

4.05 Remedies.

     The Guarantors agree that, to the fullest extent permitted by law, as between the Guarantors,
on the one hand, and the Administrative Agent and the other holders of the Obligations, on the
other hand, the Obligations may be declared to be forthwith due and payable as specified in
Section 9.02 (and shall be deemed to have become automatically due and payable in the
circumstances specified in said Section 9.02) for purposes of Section 4.01
notwithstanding any stay, injunction or other prohibition preventing such declaration (or
preventing the Obligations from becoming automatically due and payable) as against any other Person
and that, in the event of such declaration (or the Obligations being deemed to have become
automatically due and payable), the Obligations (whether or not due and payable by any other
Person) shall forthwith become due and payable by the Guarantors for purposes of Section
4.01. The Guarantors acknowledge and agree that their obligations hereunder are secured in
accordance with the terms of the Collateral Documents and that the holders of the Obligations may
exercise their remedies thereunder in accordance with the terms thereof.

4.06 Rights of Contribution.

     The Guarantors agree among themselves that, in connection with payments made hereunder, each
Guarantor shall have contribution rights against the other Guarantors as permitted under applicable
law. Such contribution rights shall be subordinate and subject in right of payment to the
obligations of such Guarantors under the Loan Documents and no Guarantor shall exercise such rights
of contribution until all Obligations have been paid in full and the Commitments have terminated.

4.07 Guarantee of Payment; Continuing Guarantee.

     The guarantee in this Article IV is a guaranty of payment and not of collection, is a
continuing guarantee, and shall apply to all Obligations whenever arising.

ARTICLE V

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS

5.01 Conditions of Effectiveness.

     This Agreement shall be effective, and the initial Credit Extension shall be made, upon
satisfaction of the following conditions precedent:

51

 

     (a) Loan Documents. Receipt by the Administrative Agent of executed counterparts of
this Agreement and the other Loan Documents, each properly executed by a Responsible Officer of the
signing Loan Party and, in the case of this Agreement, by each Lender.

     (b) Opinions of Counsel. Receipt by the Administrative Agent of favorable opinions of
legal counsel to the Loan Parties, addressed to the Administrative Agent and each Lender, dated as
of the Closing Date, and in form and substance satisfactory to the Administrative Agent.

     (c) Organization Documents, Resolutions, Etc. Receipt by the Administrative Agent of
the following, in form and substance satisfactory to the Administrative Agent:

     (i) copies of the Organization Documents of each Loan Party certified to be true and
complete as of a recent date by the appropriate Governmental Authority of the state or other
jurisdiction of its incorporation or organization, where applicable, and certified by a
secretary or assistant secretary of such Loan Party to be true and correct as of the Closing
Date;

     (ii) such certificates of resolutions or other action, incumbency certificates and/or
other certificates of Responsible Officers of each Loan Party as the Administrative Agent
may require evidencing the identity, authority and capacity of each Responsible Officer
thereof authorized to act as a Responsible Officer in connection with this Agreement and the
other Loan Documents to which such Loan Party is a party; and

     (iii) such documents and certifications as the Administrative Agent may reasonably
require to evidence that each Loan Party is duly organized or formed, and is validly
existing, in good standing and qualified to engage in business in its state of organization
or formation.

     (d) Personal Property Collateral. Receipt by the Administrative Agent of the
following:

     (i) UCC financing statements for each appropriate jurisdiction as is necessary, in the
Administrative Agent’s sole discretion, to perfect the Administrative Agent’s security
interest in the Collateral;

     (ii) duly executed notices of grant of security interest in the form required by the
Security Agreement as are necessary, in the Administrative Agent’s sole discretion, to
perfect the Administrative Agent’s security interest in the United States registered
intellectual property of the Loan Parties; and

     (iii) subject to Section 7.16, executed deposit account control agreements (or
similar agreements granting control to the Administrative Agent) with respect to the
domestic deposit accounts (other than deposits accounts used solely for payroll, bonuses,
other compensation, employee benefits and related expenses) of the Loan Parties maintained
at Bank of Texas, N.A., in form and substance reasonably satisfactory to the Administrative
Agent.

     (e) Evidence of Insurance. Receipt by the Administrative Agent of copies of
certificates of insurance of the Loan Parties evidencing liability and casualty insurance meeting
the requirements set forth in the Loan Documents, including, but not limited to, naming the
Administrative Agent as additional insured (in the case of liability insurance) or loss payee (in
the case of hazard insurance) on behalf of the Lenders.

     (f) Closing Certificate. Receipt by the Administrative Agent of a certificate signed
by a Responsible Officer of the Borrower certifying that the conditions specified in Sections
5.02(a) and (b) have been satisfied.

52

 

     (g) Fees. Receipt by the Administrative Agent, the Arranger and the Lenders of any
fees required to be paid on or before the Closing Date.

     (h) Attorney Costs. The Borrower shall have paid all fees, charges and disbursements
of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative
Agent) to the extent invoiced prior to or on the Closing Date, plus such additional amounts of such
fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges
and disbursements incurred or to be incurred by it through the closing proceedings (provided that
such estimate shall not thereafter preclude a final settling of accounts between the Borrower and
the Administrative Agent).

     Without limiting the generality of the provisions of the last paragraph of Section
10.03, for purposes of determining compliance with the conditions specified in this Section
5.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved
or accepted or to be satisfied with, each document or other matter required thereunder to be
consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its
objection thereto.

5.02 Conditions to all Credit Extensions.

     The obligation of each Lender to honor any Request for Credit Extension is subject to the
following conditions precedent:

     (a) The representations and warranties of each Loan Party contained in Article VI or
any other Loan Document, or which are contained in any document furnished at any time under or in
connection herewith or therewith, shall be true and correct in all material respects (or, if such
representation or warranty is qualified by materiality or Material Adverse Effect, it shall be true
and correct in all respects as drafted) on and as of the date of such Credit Extension, except to
the extent that such representations and warranties specifically refer to an earlier date, in which
case they shall be true and correct in all material respects (or, if such representation or
warranty is qualified by materiality or Material Adverse Effect, it shall be true and correct in
all respects as drafted) as of such earlier date.

     (b) No Default shall exist, or would result from such proposed Credit Extension or from the
application of the proceeds thereof.

     (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall
have received a Request for Credit Extension in accordance with the requirements hereof.

     Each Request for Credit Extension submitted by the Borrower shall be deemed to be a
representation and warranty that the conditions specified in Sections 5.02(a) and
(b) have been satisfied on and as of the date of the applicable Credit Extension.

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

     The Loan Parties represent and warrant to the Administrative Agent and the Lenders that:

53

 

6.01 Existence, Qualification and Power.

     Each Loan Party and each Subsidiary (a) is duly organized or formed, validly existing and, as
applicable, in good standing under the Laws of the jurisdiction of its incorporation or
organization, (b) has all requisite power and authority and all requisite governmental licenses,
authorizations, consents and approvals to (i) own or lease its assets and carry on its business and
(ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party,
and (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of
each jurisdiction where its ownership, lease or operation of properties or the conduct of its
business requires such qualification or license; except in each case referred to in clause (b)(i)
or (c), to the extent that failure to do so could not reasonably be expected to have a Material
Adverse Effect.

6.02 Authorization; No Contravention.

     The execution, delivery and performance by each Loan Party of each Loan Document to which such
Person is party have been duly authorized by all necessary corporate or other organizational
action, and do not (a) contravene the terms of any of such Person’s Organization Documents; (b)
conflict with or result in any breach or contravention of, or the creation of any Lien under, or
require any payment to be made under (i) any Material Contract to which such Person is a party or
affecting such Person or the properties of such Person or any of its Subsidiaries or (ii) any
order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such
Person or its property is subject; or (c) except as could not reasonably be expected to have a
Material Adverse Effect, violate any Law.

6.03 Governmental Authorization; Other Consents.

     No approval, consent, exemption, authorization, or other action by, or notice to, or filing
with, any Governmental Authority or any other Person is necessary or required in connection with
the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement
or any other Loan Document other than (a) those that have already been obtained and are in full
force and effect and (b) filings to perfect the Liens created by the Collateral Documents.

6.04 Binding Effect.

     Each Loan Document has been duly executed and delivered by each Loan Party that is party
thereto. Each Loan Document constitutes a legal, valid and binding obligation of each Loan Party
that is party thereto, enforceable against each such Loan Party in accordance with its terms,
except as enforceability may be limited by applicable Debtor Relief Laws and by general equitable
principles (whether enforcement is sought by proceedings in equity or at law).

6.05 Financial Statements; No Material Adverse Effect.

     (a) The financial statements delivered pursuant to Sections 7.01(a) and
7.01(b) (i) were prepared in accordance with GAAP consistently applied throughout the
period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the
financial condition of the Borrower and its Subsidiaries as of the date thereof and their results
of operations for the period covered thereby in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted therein (subject, in the
case of unaudited financial statements, to the absence of footnotes and to normal year-end audit
adjustments); and (iii) show all material indebtedness and other liabilities, direct or contingent,
of the Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes,
material commitments and Indebtedness.

54

 

     (b) The Audited Financial Statements and the unaudited financial statements of the Borrower
for the fiscal quarter ending June 30, 2010 (i) were prepared in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii)
fairly present the financial condition of the Borrower as of the date thereof and their results of
operations for the period covered thereby (subject, in the case of unaudited financial statements,
to the absence of footnotes and to normal year-end audit adjustments); and (iii) show all material
indebtedness and other liabilities, direct or contingent, of the Borrower as of the date thereof,
including liabilities for taxes, material commitments and Indebtedness.

     (c) From the date of the Audited Financial Statements to and including the Closing Date, there
has been no Disposition or any Involuntary Disposition of any material part of the business or
property of the Borrower, and no purchase or other acquisition by the Borrower of any business or
property (including any Equity Interests of any other Person) material in relation to the financial
condition of the Borrower, in each case, which is not reflected in the foregoing financial
statements or in the notes thereto and has not otherwise been disclosed in writing to the Lenders
on or prior to the Closing Date.

     (d) Since the date of the Audited Financial Statements, there has been no event or
circumstance, either individually or in the aggregate, that has had or could reasonably be expected
to have a Material Adverse Effect.

6.06 Litigation.

     There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of
the Loan Parties, threatened or contemplated, at law, in equity, in arbitration or before any
Governmental Authority, by or against any Loan Party or any Subsidiary or against any of their
properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan
Document, or any of the transactions contemplated hereby or (b) could reasonably be expected to
have a Material Adverse Effect.

6.07 No Default.

     (a) No Loan Party nor any Subsidiary is in default under or with respect to any Material
Contract.

     (b) No Default has occurred and is continuing.

6.08 Ownership of Property.

     Each Loan Party and each of its Subsidiaries has good record and indefeasible title in fee
simple to, or valid leasehold interests in, all real property necessary or used in the ordinary
conduct of its business, except for such defects in title as could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect.

6.09 Environmental Compliance.

     (a) The Loan Parties and their Subsidiaries conduct in the ordinary course of business a
review of the effect of existing Environmental Laws and claims alleging potential liability or
responsibility for violation of any Environmental Law on their respective businesses, operations
and properties, and as a result thereof the Loan Parties have reasonably concluded that such
Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

55

 

     (b) None of the properties currently owned or operated by any Loan Party or any Subsidiary is
listed or proposed for listing on the National Priorities List under CERCLA or on the CERCLIS or
any analogous foreign, state or local list or is adjacent to any such property. Except as could
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect,
(i) there are no and never have been any underground or above-ground storage tanks or any surface
impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have
been treated, stored or disposed on any property currently owned or operated by any Loan Party or
any Subsidiary or, to the knowledge of the Loan Parties, on any property formerly owned or operated
by any Loan Party or any Subsidiary, (ii) there is no asbestos or asbestos-containing material on
any property currently owned or operated by any Loan Party or any Subsidiary, and (iii) Hazardous
Materials have not been released, discharged or disposed of on any property currently owned or
operated by any Loan Party or any Subsidiary or, to the knowledge of the Loan Parties, formerly
owned or operated by any Loan Party or any Subsidiary.

     (c) Except as could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, (i) no Loan Party nor any Subsidiary is undertaking, and has not
completed, either individually or together with other potentially responsible parties, any
investigation or assessment or remedial or response action relating to any actual or threatened
release, discharge or disposal of Hazardous Materials at any site, location or operation, either
voluntarily or pursuant to the order of any Governmental Authority or the requirements of any
Environmental Law; and (ii) all Hazardous Materials generated, used, treated, handled or stored at,
or transported to or from, any property currently owned or operated by any Loan Party or any
Subsidiary or, to the knowledge of the Loan Parties, formerly owned or operated by any Loan Party
or any Subsidiary have been disposed of in a manner not reasonably expected to result in liability
to any Loan Party or any Subsidiary.

6.10 Insurance.

     The properties of the Loan Parties and their Subsidiaries are insured with financially sound
and reputable insurance companies not Affiliates of the Borrower, in such amounts, with such
deductibles and covering such risks as are customarily carried by companies engaged in similar
businesses and owning similar properties in localities where the applicable Loan Party or the
applicable Subsidiary operates. The property and general liability insurance coverage of the Loan
Parties as in effect on the Closing Date is outlined as to carrier, policy number, expiration date,
type, amount and deductibles on Schedule 6.10.

6.11 Taxes.

     Each Loan Party and its Subsidiaries have filed all federal, state and other material tax
returns and reports required to be filed, and have paid all material taxes, assessments, fees and
other governmental charges levied or imposed upon them or their properties, income or assets
otherwise due and payable, except those which are being contested in good faith by appropriate
proceedings diligently conducted and for which adequate reserves have been provided in accordance
with GAAP. There is no proposed tax assessment against any Loan Party or any Subsidiary that
would, if made, have a Material Adverse Effect. No Loan Party nor any Subsidiary thereof is party
to any tax sharing agreement.

6.12 ERISA Compliance.

     (a) Each Plan is in compliance in all material respects with the applicable provisions of
ERISA, the Internal Revenue Code and other federal or state Laws. Each Plan that is intended to be
a qualified plan under Section 401(a) of the Internal Revenue Code has received a favorable
determination letter from the IRS to the effect that the form of such Plan is qualified under
Section 401(a) of the Internal Revenue Code and the trust related thereto has been determined by
the IRS to be exempt from federal

56

 

income tax under Section 501(a) of the Internal Revenue Code, or an application for such a
letter is currently being processed by the IRS. To the best knowledge of the Loan Parties, nothing
has occurred that would prevent or cause the loss of such tax-qualified status.

     (b) There are no pending or, to the best knowledge of the Loan Parties, threatened claims,
actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could
reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction
or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or
could reasonably be expected to result in a Material Adverse Effect.

     (c) (i) No ERISA Event has occurred, and no Loan Party nor any ERISA Affiliate is aware of
any fact, event or circumstance that could reasonably be expected to constitute or result in an
ERISA Event with respect to any Pension Plan; (ii) each Loan Party and each ERISA Affiliate has met
all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no
waiver of the minimum funding standards under the Pension Funding Rules has been applied for or
obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target
attainment percentage (as defined in Section 430(d)(2) of the Internal Revenue Code) is 60% or
higher and no Loan Party nor any ERISA Affiliate knows of any facts or circumstances that could
reasonably be expected to cause the funding target attainment percentage for any such plan to drop
below 60% as of the most recent valuation date; (iv) no Loan Party nor any ERISA Affiliate has
incurred any liability to the PBGC other than for the payment of premiums, and there are no premium
payments which have become due that are unpaid; (v) no Loan Party nor any ERISA Affiliate has
engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and
(vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no
event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to
institute proceedings under Title IV of ERISA to terminate any Pension Plan.

     (d) No Loan Party nor any ERISA Affiliate maintains or contributes to, or has any unsatisfied
obligation to contribute to, or liability under, any active or terminated Pension Plan other than
(A) on the Closing Date, those listed on Schedule 6.12 hereto and (B) thereafter, Pension
Plans not otherwise prohibited by this Agreement.

6.13 Subsidiaries.

     Set forth on Schedule 6.13 is a complete and accurate list as of the Closing Date of
each Subsidiary of any Loan Party, together with (i) jurisdiction of organization, (ii) number of
shares of each class of Equity Interests outstanding, and (iii) number and percentage of
outstanding shares of each class owned (directly or indirectly) by any Loan Party or any
Subsidiary. The outstanding Equity Interests of each Subsidiary of any Loan Party are validly
issued, fully paid and non-assessable.

6.14 Margin Regulations; Investment Company Act.

     (a) The Borrower is not engaged and will not engage, principally or as one of its important
activities, in the business of purchasing or carrying margin stock (within the meaning of
Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock. Following the application of the proceeds of each Borrowing or drawing under each
Letter of Credit, not more than 25% of the value of the assets (either of the Borrower only or of
the Borrower and its Subsidiaries on a consolidated basis) subject to the provisions of Section
8.01 or Section 8.05 or subject to any restriction contained in any agreement or
instrument between the Borrower and any Lender or any Affiliate of any Lender relating to
Indebtedness and within the scope of Section 9.01(e) will be margin stock.

57

 

     (b) None of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is
required to be registered as an “investment company” under the Investment Company Act of 1940.

6.15 Disclosure.

     Each Loan Party has disclosed to the Administrative Agent and the Lenders all agreements,
instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject,
and all other matters known to it, that, individually or in the aggregate, could reasonably be
expected to result in a Material Adverse Effect. No report, financial statement, certificate or
other information furnished (whether in writing or orally) by or on behalf of any Loan Party to the
Administrative Agent or any Lender in connection with the transactions contemplated hereby and the
negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each
case, as modified or supplemented by other information so furnished) contains any material
misstatement of fact or omits to state any material fact necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading; provided
that, with respect to projected financial information, the Loan Parties represent only that such
information was prepared in good faith based upon assumptions believed to be reasonable at the
time.

6.16 Compliance with Laws.

     Each Loan Party and Subsidiary is in compliance with the requirements of all Laws and all
orders, writs, injunctions and decrees applicable to it or to its properties, except in such
instances in which (a) such requirement of Law or order, writ, injunction or decree is being
contested in good faith by appropriate proceedings diligently conducted or (b) the failure to
comply therewith could not reasonably be expected to have a Material Adverse Effect.

6.17 Intellectual Property; Licenses, Etc.

     Each Loan Party and each Subsidiary owns, or possesses the legal right to use, all of the
trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses
and other intellectual property rights (collectively, “IP Rights”) that are reasonably
necessary for the operation of their respective businesses, except to the extent that a failure to
own or possess such legal right to use would not reasonably be expected to have a Material Adverse
Effect. Set forth on Schedule 6.17 is a list of all IP Rights registered or pending
registration with the United States Copyright Office or the United States Patent and Trademark
Office and owned by each Loan Party as of the Closing Date. Except for such claims and
infringements that could not reasonably be expected to have a Material Adverse Effect, no claim has
been asserted and is pending by any Person challenging or questioning the use of any IP Rights or
the validity or effectiveness of any IP Rights, nor does any Loan Party know of any such claim,
and, to the knowledge of the Responsible Officers of the Loan Parties, the use of any IP Rights by
any Loan Party or any Subsidiary or the granting of a right or a license in respect of any IP
Rights from any Loan Party or any Subsidiary does not infringe on the rights of any Person. As of
the Closing Date, none of the IP Rights owned by any Loan Party is subject to any licensing
agreement or similar arrangement outside the ordinary course of such Loan Party’s business except
as set forth on Schedule 6.17.

6.18 Solvency.

     The Borrower is Solvent, and the Loan Parties are Solvent on a consolidated basis.

58

 

6.19 Perfection of Security Interests in the Collateral.

     The Collateral Documents create valid security interests in, and Liens on, the Collateral
purported to be covered thereby, which security interests and Liens are currently, or, upon the
proper filing of Uniform Commercial Code financing statements, notices of security interests in
registered IP Rights or other applicable documents in the appropriate jurisdictions or the
Administrative Agent’s taking possession of such Collateral, as applicable, will be, perfected
security interests and Liens, to the extent that such security interests and Liens can be perfected
by such filings, deliveries, notations and other actions contemplated by the Collateral Documents,
prior to all other Liens other than Permitted Liens.

6.20 Business Locations; Taxpayer Identification Number.

     Set forth on Schedule 6.20(a) is a list of all real property located in the United
States that is owned or leased by any Loan Party as of the Closing Date. Set forth on Schedule
6.20(b) is a list of all locations not identified on Schedule 6.20(a) where any
material amount of tangible personal property of any Loan Party is located as of the Closing Date.
Set forth on Schedule 6.20(c) is the chief executive office, exact legal name, U.S. tax
payer identification number and organizational identification number of each Loan Party as of the
Closing Date. Except as set forth on Schedule 6.20(d), no Loan Party has during the five
years preceding the Closing Date (i) changed its legal name, (ii) changed its state of formation or
(iii) been party to a merger, consolidation or other change in structure. Set forth on Schedule
6.20(e), is a list of each deposit and investment account of each Loan Party as of the Closing
Date.

6.21 Labor Matters.

     There are no collective bargaining agreements or Multiemployer Plans covering the employees of
any Loan Party or any Subsidiary as of the Closing Date. No Loan Party nor any Subsidiary has
suffered any strikes, walkouts, work stoppages or other material labor difficulty in the five years
preceding the Closing Date.

ARTICLE VII

AFFIRMATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding,
each Loan Party shall and shall cause each Subsidiary to:

7.01 Financial Statements.

     Deliver to the Administrative Agent for delivery to each Lender:

     (a) as soon as available, but in any event within ninety days after the end of each fiscal
year of the Borrower, a consolidated balance sheet of the Borrower and its Subsidiaries as at the
end of such fiscal year, and the related consolidated statements of income or operations, changes
in shareholders’ equity and cash flows for such fiscal year, setting forth in each case in
comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in
accordance with GAAP, audited and accompanied by a report and opinion of an independent certified
public accountant of nationally recognized standing reasonably acceptable to the Required Lenders,
which report and opinion shall be prepared in accordance with generally accepted auditing standards
and shall not be subject to any “going

59

 

concern” or like qualification or exception or any qualification or exception as to the scope
of such audit; and

     (b) as soon as available, but in any event within forty-five days after the end of each of the
first three fiscal quarters of each fiscal year of the Borrower, a consolidated balance sheet of
the Borrower and its Subsidiaries as at the end of such fiscal quarter, the related consolidated
statements of income or operations for such fiscal quarter and for the portion of the Borrower’s
fiscal year then ended, and the related consolidated statements of changes in shareholders’ equity,
and cash flows for such fiscal quarter and the portion of the Borrower’s fiscal year then ended, in
each case setting forth in comparative form, as applicable, the figures for the corresponding
fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal
year, all in reasonable detail and certified by the chief executive officer, chief financial
officer, treasurer or controller of the Borrower as fairly presenting the financial condition,
results of operations, shareholders’ equity and cash flows of the Borrower and its Subsidiaries in
accordance with GAAP, subject only to normal year-end audit adjustments and the absence of
footnotes.

As to any information contained in materials furnished pursuant to Section 7.02(d), the
Borrower shall not be separately required to furnish such information under Section 7.01(a)
or (b) above, but the foregoing shall not be in derogation of the obligation of the
Borrower to furnish the information and materials described in Section 7.01(a) or
(b) above at the times specified therein.

7.02 Certificates; Other Information.

     Deliver to the Administrative Agent for delivery to each Lender:

     (a) concurrently with the delivery of the financial statements referred to in Section
7.01(a), a certificate of its independent certified public accountants certifying such
financial statements and stating that in making the examination necessary therefor no knowledge was
obtained of any Default under the financial covenants set forth herein or, if any such Default
shall exist, stating the nature and status of such event;

     (b) concurrently with the delivery of the financial statements referred to in Sections
7.01(a) and (b), a duly completed Compliance Certificate signed by the chief executive
officer, chief financial officer, treasurer or controller of the Borrower which shall include such
supplements to Schedules 6.13, 6.17, 6.20(a), 6.20(b),
6.20(c), 6.20(d) and 6.20(e), as are necessary such that, as supplemented,
such Schedules would be accurate and complete as of the date of such Compliance Certificate
(which delivery may, unless the Administrative Agent, or a Lender requests executed originals, be
by electronic communication including fax or email and shall be deemed to be an original authentic
counterpart thereof for all purposes);

     (c) not later than 45 days after the beginning of each fiscal year of the Borrower, commencing
with the fiscal year beginning January 1, 2011, an annual business plan and budget of the Borrower
and its Subsidiaries containing, among other things, pro forma income statements for each quarter
of such fiscal year;

     (d) promptly after the same are available, copies of each annual report, proxy or financial
statement or other report or communication sent to the equityholders of any Loan Party or any
Subsidiary, and copies of all annual, regular, periodic and special reports and registration
statements which a Loan Party or any Subsidiary may file or be required to file with the SEC under
Section 13 or 15(d) of the Securities Exchange Act of 1934, and not otherwise required to be
delivered to the Administrative Agent pursuant hereto;

60

 

     (e) promptly after any request by the Administrative Agent, copies of any detailed audit
reports, management letters or recommendations submitted to the board of directors (or the audit
committee of the board of directors) of the Borrower by independent accountants in connection with
the accounts or books of the Borrower or any Subsidiary, or any audit of any of them;

     (f) promptly after the furnishing thereof, copies of any statement or report furnished to any
holder of debt securities of any Loan Party or any Subsidiary pursuant to the terms of any
indenture, loan or credit or similar agreement and not otherwise required to be furnished to the
Administrative Agent (for delivery to the Lenders) pursuant to Section 7.01 or any other
clause of this Section 7.02;

     (g) promptly, and in any event within five Business Days after receipt thereof by any Loan
Party or any Subsidiary thereof, copies of each notice or other correspondence received from the
SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or
possible investigation or other inquiry by such agency regarding financial or other operational
results of any Loan Party or any Subsidiary thereof; and

     (h) promptly, such additional information regarding the business, financial or corporate
affairs of any Loan Party or any Subsidiary, or compliance with the terms of the Loan Documents, as
the Administrative Agent may from time to time reasonably request.

     Documents required to be delivered pursuant to Section 7.01 or Section 7.02
may be delivered electronically and if so delivered, shall be deemed to have been delivered on the
date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s
website on the Internet at the website address listed on Schedule 11.02; or (ii) on which
such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to
which each Lender and the Administrative Agent have access (whether a commercial, third-party
website or whether sponsored by the Administrative Agent); provided that: (i) upon the
request of the Administrative Agent or any Lender, as applicable, the Borrower shall deliver paper
copies of such documents to the Administrative Agent (or to the Administrative Agent for delivery
to such Lender) until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) the Borrower shall notify (by telecopier or electronic
mail) the Administrative Agent (who shall notify the Lenders) of the posting of any such documents
and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft
copies) of such documents. The Administrative Agent shall have no obligation to request the
delivery of or to maintain paper copies of the documents referred to above, and in any event shall
have no responsibility to monitor compliance by the Borrower with any such request by a Lender for
delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining
its copies of such documents.

     The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger will
make available to the Lenders and the L/C Issuer materials and/or information provided by or on
behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the
Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain of the Lenders (each a “Public Lender”) may have personnel who do not wish to
receive material non-public information with respect to the Borrower or its Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in investment and other
market-related activities with respect to such Persons’ securities. The Borrower hereby agrees
that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly
and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall
appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the
Borrower shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuer
and the Lenders to treat such Borrower Materials as not containing any material non-public

61

 

information with respect to the Borrower or its securities for purposes of United States
federal and state securities laws (provided, however, that to the extent such
Borrower Materials constitute Information, they shall be treated as set forth in Section
11.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a
portion of the Platform designated as “Public Side Information;” and (z) the Administrative Agent
and the Arranger shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as
being suitable only for posting on a portion of the Platform that is not marked as “Public Side
Information.” Notwithstanding the foregoing, the Borrower shall be under no obligation to mark any
Borrower Materials “PUBLIC.”

7.03 Notices.

     (a) Promptly notify the Administrative Agent of the occurrence of any Default.

     (b) Promptly notify the Administrative Agent of any matter that has resulted or could
reasonably be expected to result in a Material Adverse Effect.

     (c) Promptly notify the Administrative Agent of the occurrence of any ERISA Event.

     (d) Promptly notify the Administrative Agent of any material change in accounting policies or
financial reporting practices by any Loan Party or any Subsidiary.

     Each notice pursuant to this Section 7.03 shall be accompanied by a statement of a
Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and
stating what action the Borrower has taken and proposes to take with respect thereto. Each notice
pursuant to Section 7.03(a) shall describe with particularity any and all provisions of
this Agreement and any other Loan Document that have been breached.

7.04 Payment of Taxes.

     Pay and discharge, as the same shall become due and payable, all its material tax liabilities,
assessments and governmental charges or levies upon it or its properties or assets, unless the same
are being contested in good faith by appropriate proceedings diligently conducted and adequate
reserves in accordance with GAAP are being maintained by such Loan Party or such Subsidiary.

7.05 Preservation of Existence, Etc.

     (a) Preserve, renew and maintain in full force and effect its legal existence and good
standing under the Laws of the jurisdiction of its organization except in a transaction permitted
by Section 8.04 or 8.05.

     (b) Take all reasonable action to maintain all rights, privileges, permits, licenses and
franchises necessary or desirable in the normal conduct of its business, except to the extent that
the failure to do so could not reasonably be expected to have a Material Adverse Effect.

     (c) Preserve or renew all of its IP Rights, the non-preservation of which could reasonably be
expected to have a Material Adverse Effect.

7.06 Maintenance of Properties.

     (a) Maintain, preserve and protect all of its material properties and equipment necessary
in the operation of its business in good working order and condition, ordinary wear and tear
excepted.

62

 

     (b) Make all necessary repairs thereto and renewals and replacements thereof, except where the
failure to do so could not reasonably be expected to have a Material Adverse Effect.

     (c) Use the standard of care typical in the industry in the operation and maintenance of its
facilities.

7.07 Maintenance of Insurance.

     (a) Maintain in full force and effect insurance (including worker’s compensation insurance,
liability insurance, casualty insurance and business interruption insurance) with financially sound
and reputable insurance companies not Affiliates of the Borrower, in such amounts, with such
deductibles and covering such risks as are customarily carried by companies engaged in similar
businesses and owning similar properties in localities where such Loan Party or such Subsidiary
operates.

     (b) Cause the Administrative Agent to be named as loss payee and/or additional insured with
respect to any such insurance providing liability coverage or coverage in respect of any
Collateral, and cause each provider of any such insurance to agree, by endorsement upon the policy
or policies issued by it or by independent instruments furnished to the Administrative Agent, that
it will give the Administrative Agent thirty days prior written notice before any such policy or
policies shall be altered or canceled.

7.08 Compliance with Laws.

     Comply with the requirements of all Laws and all orders, writs, injunctions and decrees
applicable to it or to its business or property, except in such instances in which (a) such
requirement of Law or order, writ, injunction or decree is being contested in good faith by
appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not
reasonably be expected to have a Material Adverse Effect.

7.09 Books and Records.

     (a) Maintain proper books of record and account, in which full, true and correct entries in
conformity with GAAP consistently applied shall be made of all financial transactions and matters
involving the assets and business of such Loan Party or such Subsidiary, as the case may be.

     (b) Maintain such books of record and account in material conformity with all applicable
requirements of any Governmental Authority having regulatory jurisdiction over such Loan Party or
such Subsidiary, as the case may be.

7.10 Inspection Rights.

     Permit representatives and independent contractors of the Administrative Agent and each Lender
(when accompanying the Administrative Agent) to visit and inspect any of its properties, to examine
its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and
to discuss its affairs, finances and accounts with its directors, officers, and independent public
accountants, all at the expense of the Borrower and at such reasonable times during normal business
hours, upon reasonable advance notice to the Borrower, but no more than once per fiscal quarter;
provided, however, that when an Event of Default exists the Administrative Agent,
who may be accompanied by a Lender (or any of their respective representatives or independent
contractors), may do any of the foregoing at the expense of

63

 

the Borrower at any time during normal business hours, without advance notice, as often as may
be reasonably desired.

7.11 Use of Proceeds.

     Use the proceeds of the Credit Extensions to finance working capital, capital expenditures and
other lawful corporate purposes (including Permitted Acquisitions and Restricted Payments),
provided that in no event shall the proceeds of the Credit Extensions be used in
contravention of any Law or of any Loan Document.

7.12 ERISA Compliance.

     Do, and cause each of its ERISA Affiliates to do, each of the following: (a) maintain each
Plan in compliance with the applicable provisions of ERISA, the Internal Revenue Code and other
federal or state law except where the failure to do so could not reasonably be expected to have a
Material Adverse Effect; (b) cause each Plan that is qualified under Section 401(a) of the Internal
Revenue Code to maintain such qualification; and (c) make all required contributions to any Plan
subject to Section 412, Section 430 or Section 431 of the Internal Revenue Code.

7.13 Additional Subsidiaries.

     Within thirty days after the acquisition or formation of any Subsidiary:

     (a) notify the Administrative Agent thereof in writing, together with the
(i) jurisdiction of formation, (ii) number of shares of each class of Equity Interests
outstanding, (iii) number and percentage of outstanding shares of each class owned (directly
or indirectly) by the Borrower or any Subsidiary and (iv) number and effect, if exercised,
of all outstanding options, warrants, rights of conversion or purchase and all other similar
rights with respect thereto; and

     (b) if such Subsidiary is a Material Domestic Subsidiary, cause such Person to (i)
become a Guarantor by executing and delivering to the Administrative Agent a Joinder
Agreement or such other documents as the Administrative Agent shall deem appropriate for
such purpose, and (ii) upon the request of the Administrative Agent in its sole discretion,
deliver to the Administrative Agent such Organization Documents, resolutions and favorable
opinions of counsel, all in form, content and scope reasonably satisfactory to the
Administrative Agent.

7.14 Pledged Assets.

     (a) Equity Interests. Cause (i) 100% of the issued and outstanding Equity Interests
of each Domestic Subsidiary and (ii) 65% (or such greater percentage that, due to a change in an
applicable Law after the date hereof, (A) could not reasonably be expected to cause the
undistributed earnings of such Foreign Subsidiary as determined for United States federal income
tax purposes to be treated as a deemed dividend to such Foreign Subsidiary’s United States parent
and (B) could not reasonably be expected to cause any material adverse tax consequences) of the
issued and outstanding Equity Interests entitled to vote (within the meaning of Treas. Reg. Section
1.956-2(c)(2)) and 100% of the issued and outstanding Equity Interests not entitled to vote (within
the meaning of Treas. Reg. Section 1.956-2(c)(2)) in each Foreign Subsidiary directly owned by any
Loan Party to be subject at all times to a first priority, perfected Lien in favor of the
Administrative Agent pursuant to the terms and conditions of the Collateral Documents, together
with opinions of counsel and any filings and deliveries reasonably necessary in connection
therewith to perfect the security interests therein, all in form and substance reasonably
satisfactory to the Administrative Agent.

64

 

     (b) Other Property. (i) Cause all personal property (other than Excluded Property) of
each Loan Party to be subject at all times to first priority, perfected Liens in favor of the
Administrative Agent to secure the Obligations pursuant to (and to the extent required by) the
terms and conditions of the Collateral Documents, subject in any case to Permitted Liens and (ii)
deliver such other documentation as the Administrative Agent may reasonably request in connection
with the foregoing, including, without limitation, appropriate UCC-1 financing statements,
landlord’s waivers, certified resolutions and other organizational and authorizing documents of
such Person, favorable opinions of counsel to such Person (which shall cover, among other things,
the legality, validity, binding effect and enforceability of the documentation referred to above
and the perfection of the Administrative Agent’s Liens thereunder) and other items of the types
required to be delivered pursuant to Sections 5.01(e), all in form, content and scope
reasonably satisfactory to the Administrative Agent.

7.15 Material Contracts.

     Perform and observe all the material terms and provisions of each Material Contract to be
performed or observed by it, maintain each such Material Contract in full force and effect and
enforce each such Material Contract in accordance with its terms.

7.16 Post-Closing Matters; Bank of Texas, N.A. Cash Collateral Account.

     (a) To the extent not delivered to the Administrative Agent on the Closing Date, deliver all
documentation required pursuant to Section 5.01(d)(iii) within thirty (30) days following
the Closing Date.

     (b) Promptly, upon the replacement of all letters of credit issued by Bank of Texas, N.A. and
set forth on Schedule 8.03 with Letters of Credit issued hereunder, close deposit account
number 8090221452 maintained at Bank of Texas, N.A. Prior to such time, the Loan Parties shall
not permit the amount on deposit in such account to exceed the amounts required by Bank of Texas,
N.A. to cash collateralize such letters of credit.

ARTICLE VIII

NEGATIVE COVENANTS

     So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation
hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, no
Loan Party shall, nor shall it permit any Subsidiary to, directly or indirectly:

8.01 Liens.

     Create, incur, assume or suffer to exist any Lien upon any of its property, assets or
revenues, whether now owned or hereafter acquired, other than the following:

     (a) Liens pursuant to any Loan Document;

     (b) Liens existing on the date hereof and listed on Schedule 8.01 and any renewals or
extensions thereof, provided that the property covered thereby is not changed;

     (c) Liens (other than Liens imposed under ERISA) for taxes, assessments or governmental
charges or levies not yet due or which are being contested in good faith and by appropriate
proceedings

65

 

diligently conducted, if adequate reserves with respect thereto are maintained on the books of
the applicable Person in accordance with GAAP;

     (d) statutory Liens of landlords and Liens of carriers, warehousemen, mechanics, materialmen
and suppliers and other Liens imposed by law or pursuant to customary reservations or retentions of
title arising in the ordinary course of business, provided that such Liens secure only
amounts not yet due and payable or, if due and payable, are unfiled and no other action has been
taken to enforce the same or are being contested in good faith by appropriate proceedings for which
adequate reserves determined in accordance with GAAP have been established;

     (e) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation, other than any Lien
imposed by ERISA;

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

     (g) easements, rights-of-way, restrictions and other similar encumbrances affecting real
property 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 applicable Person;

     (h) Liens securing judgments for the payment of money (or appeal or other surety bonds
relating to such judgments) not constituting an Event of Default under Section 9.01(h);

     (i) Liens securing Indebtedness permitted under Section 8.03(e); provided that
(i) such Liens do not at any time encumber any property other than the property financed by such
Indebtedness and (ii) such Liens attach to such property concurrently with or within ninety days
after the acquisition thereof;

     (j) leases or subleases granted to others not interfering in any material respect with the
business of any Loan Party or any Subsidiary;

     (k) any interest of title of a lessor under, and Liens arising from UCC financing statements
(or equivalent filings, registrations or agreements in foreign jurisdictions) relating to, leases
permitted by this Agreement;

     (l) Liens deemed to exist in connection with Investments in repurchase agreements permitted
under Section 8.02(a);

     (m) normal and customary rights of setoff upon deposits of cash in favor of banks or other
depository institutions;

     (n) Liens of a collection bank arising under Section 4-210 of the Uniform Commercial Code on
items in the course of collection; and

     (o) Liens in favor of the L/C Issuer or the Swing Line Lender on cash collateral securing the
obligations of a Defaulting Lender to fund risk participations hereunder.

66

 

8.02 Investments.

     Make any Investments, except:

     (a) Investments held in the form of cash or Cash Equivalents;

     (b) Investments existing as of the Closing Date and set forth in Schedule 8.02;

     (c) Investments in any Person that is a Loan Party prior to giving effect to such Investment;

     (d) Investments by any Subsidiary that is not a Loan Party in any other Subsidiary that is not
a Loan Party;

     (e) Investments consisting of extensions of credit in the nature of accounts receivable or
notes receivable arising from the grant of trade credit in the ordinary course of business, and
Investments received in satisfaction or partial satisfaction thereof from financially troubled
account debtors to the extent reasonably necessary in order to prevent or limit loss;

     (f) Guarantees permitted by Section 8.03;

     (g) Permitted Acquisitions;

     (h) Investments in Equity Interests of the Borrower constituting treasury stock so long as the
acquisition thereof was permitted by Section 8.06(c); and

     (i) Investments of a nature not contemplated in the foregoing clauses in an amount not to
exceed $10,000,000 in the aggregate at any time outstanding.

8.03 Indebtedness.

     Create, incur, assume or suffer to exist any Indebtedness, except:

     (a) Indebtedness under the Loan Documents;

     (b) Indebtedness existing on the Closing Date and set forth in Schedule 8.03 (and
renewals, refinancings and extensions thereof); provided that (i) the amount of such
Indebtedness is not increased at the time of such refinancing, renewal or extension except by an
amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses
reasonably incurred, in connection with such refinancing and by an amount equal to any existing
commitments unutilized thereunder and (ii) the terms relating to principal amount, amortization,
maturity, collateral (if any) and subordination (if any), and other material terms taken as a
whole, of any such refinancing, renewal or extension are no less favorable in any material respect
to the Loan Parties and their Subsidiaries or the Lenders than the terms of any agreement or
instrument governing the Indebtedness being refinanced, renewed or extended and the interest rate
applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed
the then applicable market interest rate;

     (c) intercompany Indebtedness permitted under Section 8.02;

     (d) obligations (contingent or otherwise) existing or arising under any Swap Contract,
provided that (i) such obligations are (or were) entered into by such Person in the
ordinary course of business for the purpose of directly mitigating risks associated with
liabilities, commitments, investments,

67

 

assets, or property held or reasonably anticipated by such Person, or changes in the value of
securities issued by such Person, and not for purposes of speculation or taking a “market view;”
and (ii) such Swap Contract does not contain any provision exonerating the non-defaulting party
from its obligation to make payments on outstanding transactions to the defaulting party;

     (e) purchase money Indebtedness (including obligations in respect of Capital Leases or
Synthetic Leases) hereafter incurred to finance the purchase of fixed assets, and renewals,
refinancings and extensions thereof, provided that (i) the aggregate outstanding principal
amount of all such Indebtedness shall not exceed $10,000,000 at any one time outstanding; and (ii)
such Indebtedness when incurred shall not exceed the purchase price of the asset(s) financed;

     (f) other unsecured Indebtedness in an aggregate principal amount not to exceed $10,000,000 at
any one time outstanding; and

     (g) Guarantees with respect to Indebtedness permitted under this Section 8.03.

8.04 Fundamental Changes.

     Merge, dissolve, liquidate or consolidate with or into another Person, except that so long as
no Default exists or would result therefrom, (a) the Borrower may merge or consolidate with any of
its Subsidiaries provided that the Borrower is the continuing or surviving Person, (b) any
Subsidiary may merge or consolidate with any other Subsidiary provided that if a Loan Party
is a party to such transaction, the continuing or surviving Person is a Loan Party, (c) the
Borrower or any Subsidiary may merge with any other Person in connection with a Permitted
Acquisition provided that (i) if the Borrower is a party to such transaction, the Borrower
is the continuing or surviving Person and (ii) if a Loan Party is a party to such transaction, such
Loan Party is the surviving Person and (d) any Subsidiary may dissolve, liquidate or wind up its
affairs at any time provided that such dissolution, liquidation or winding up, as applicable, could
not have a Material Adverse Effect.

8.05 Dispositions.

     Make any Disposition except:

     (a) Permitted Transfers; and

     (b) other Dispositions so long as (i) the consideration paid in connection therewith shall be
in an amount not less than the fair market value of the property disposed of, (ii) if such
transaction is a Sale and Leaseback Transaction, such transaction is not prohibited by the terms of
Section 8.15, (iii) such Disposition does not involve the sale or other disposition of a
minority equity interest in any Subsidiary, (iv) such Disposition does not involve a sale or other
disposition of receivables other than receivables owned by or attributable to other property
concurrently being disposed of in a transaction otherwise permitted under this Section
8.05, and (v) after giving effect to such Disposition, the aggregate book value of all of the
assets sold or otherwise disposed of by the Loan Parties and their Subsidiaries in all such
Dispositions occurring after the Closing Date shall not exceed an amount equal to 10% of
consolidated tangible assets of the Borrower and its Subsidiaries.

8.06 Restricted Payments.

     Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation
(contingent or otherwise) to do so, except that:

68

 

     (a) each Subsidiary may make Restricted Payments to Persons that own Equity Interests in such
Subsidiary, ratably according to their respective holdings of the type of Equity Interest in
respect of which such Restricted Payment is being made;

     (b) each Loan Party and each Subsidiary may declare and make dividend payments or other
distributions payable solely in common Equity Interests of such Person; and

     (c) so long as (i) no Default exists immediately prior and after giving effect thereto, (ii)
after giving effect to such Restricted Payment on a Pro Forma Basis, the Consolidated Leverage
Ratio is less than (x) at any time during the period from the Closing Date through the third
anniversary thereof, 2.25 to 1.0 and (y) at any time thereafter, 2.00 to 1.0 and (iii) immediately
after giving effect to such Restricted Payment, the sum of (A) availability existing under the
Aggregate Revolving Commitments plus (B) unrestricted cash and Cash Equivalents held by the
Loan Parties at such time is at least $10,000,000, the Borrower may make other Restricted Payments.

8.07 Change in Nature of Business.

     Engage in any material line of business substantially different from those lines of business
conducted by the Loan Parties and their Subsidiaries on the Closing Date or any business
substantially related or incidental thereto.

8.08 Transactions with Affiliates and Insiders.

     Enter into or permit to exist any transaction or series of transactions with any officer,
director or Affiliate of such Person other than (a) advances of working capital to any Loan Party,
(b) transfers of cash and assets to any Loan Party, (c) intercompany transactions expressly
permitted by Section 8.02, Section 8.03, Section 8.04, Section 8.05
or Section 8.06, (d) normal and reasonable compensation and reimbursement of expenses of
officers and directors and (e) except as otherwise specifically limited in this Agreement, other
transactions which are entered into in the ordinary course of such Person’s business on terms and
conditions substantially as favorable to such Person as would be obtainable by it in a comparable
arms-length transaction with a Person other than an officer, director or Affiliate.

8.09 Burdensome Agreements.

     Enter into, or permit to exist, any Contractual Obligation that (a) encumbers or restricts the
ability of any such Person to (i) make Restricted Payments to any Loan Party, (ii) pay any
Indebtedness or other obligation owed to any Loan Party, (iii) make loans or advances to any Loan
Party, (iv) transfer any of its property to any Loan Party, (v) pledge its property pursuant to the
Loan Documents or any renewals, refinancings, exchanges, refundings or extension thereof or (vi)
act as a Loan Party pursuant to the Loan Documents or any renewals, refinancings, exchanges,
refundings or extension thereof, except (in respect of any of the matters referred to in clauses
(i)-(v) above) for (1) this Agreement and the other Loan Documents, (2) any document or instrument
governing Indebtedness incurred pursuant to Section 8.03(e), provided that any such
restriction contained therein relates only to the asset or assets constructed or acquired in
connection therewith, (3) any Permitted Lien or any document or instrument governing any Permitted
Lien, provided that any such restriction contained therein relates only to the asset or
assets subject to such Permitted Lien or (4) customary restrictions and conditions contained in any
agreement relating to the sale of any property permitted under Section 8.05 pending the
consummation of such sale, or (b) requires the grant of any security for any obligation if such
property is given as security for the Obligations.

69

 

8.10 Use of Proceeds.

     Use the proceeds of any Credit Extension, whether directly or indirectly, and whether
immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of
Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying
margin stock or to refund indebtedness originally incurred for such purpose.

8.11 Financial Covenants.

     (a) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the end
of any fiscal quarter of the Borrower to be greater than 2.50 to 1.0.

     (b) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge
Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 2.00 to 1.0.

8.12 Prepayment of Other Indebtedness, Etc.

     (a) Amend or modify any of the terms of any Indebtedness of any Loan Party or any Subsidiary
(other than Indebtedness arising under the Loan Documents) if such amendment or modification would
add or change any terms in a manner materially adverse to any Loan Party or any Subsidiary, or
shorten the final maturity or average life to maturity or require any payment to be made sooner
than originally scheduled or increase the interest rate applicable thereto.

     (b) Make (or give any notice with respect thereto) any voluntary or optional payment or
prepayment or redemption or acquisition for value of (including without limitation, by way of
depositing money or securities with the trustee with respect thereto before due for the purpose of
paying when due), refund, refinance or exchange of any Indebtedness of any Loan Party or any
Subsidiary (other than Indebtedness arising under the Loan Documents).

8.13 Organization Documents; Fiscal Year; Legal Name, State of Formation and Form of
Entity.

     (a) Amend, modify or change its Organization Documents in a manner adverse to the rights of
the Lenders under the Loan Documents.

     (b) Change its fiscal year.

     (c) Without providing ten days prior written notice to the Administrative Agent, change its
name, state of formation or form of organization.

8.14 Ownership of Subsidiaries.

     Notwithstanding any other provisions of this Agreement to the contrary, (a) permit any Person
(other than the Borrower or any wholly-owned Subsidiary) to own any Equity Interests of any
Subsidiary except to qualify directors where required by applicable Law or to satisfy other
requirements of applicable Law with respect to the ownership of Equity Interests of Foreign
Subsidiaries, or (b) permit any Subsidiary to issue or have outstanding any shares of preferred
Equity Interests.

8.15 Sale Leasebacks; Securitization Transactions; Synthetic Leases.

     Enter into any Sale and Leaseback Transaction (other than the Sale and Leaseback Transactions
with respect to the Facilities), Securitization Transaction or Synthetic Lease.

70

 

ARTICLE IX

EVENTS OF DEFAULT AND REMEDIES

9.01 Events of Default.

     Any of the following shall constitute an Event of Default:

     (a) Non-Payment. Any Loan Party fails to pay (i) when and as required to be paid
herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after
the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder,
or (iii) within five days after the same becomes due, any other amount payable hereunder or under
any other Loan Document; or

     (b) Specific Covenants. Any Loan Party fails to perform or observe any term, covenant
or agreement contained in any of Section 7.01, 7.02, 7.03, 7.05(a),
7.10, 7.11, 7.13 or 7.14 or Article VIII; or

     (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or
agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part
to be performed or observed and such failure continues for thirty days after the earlier of the
date on which (i) a Responsible Officer of a Loan Party becomes aware of such failure or (ii)
notice thereof shall have been given to the Borrower by the Administrative Agent; or

     (d) Representations and Warranties. Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of any Loan Party herein, in any other Loan
Document, or in any document delivered in connection herewith or therewith shall be incorrect or
misleading in any material respect (or, if such representation or warranty is qualified by
materiality or Material Adverse Effect, proving to have been incorrect or misleading in any respect
as drafted) when made or deemed made; or

     (e) Cross-Default. (i) Any Loan Party or any Subsidiary (A) fails to make any payment
when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise)
in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness
under Swap Contracts) having an aggregate principal amount (including undrawn committed or
available amounts and including amounts owing to all creditors under any combined or syndicated
credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other
agreement or condition relating to any such Indebtedness or Guarantee or contained in any
instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the
effect of which default or other event is to cause, or to permit the holder or holders of such
Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf
of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if
required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased
or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such
Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash
collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early
Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under
such Swap Contract as to which any Loan Party or any Subsidiary is the Defaulting Party (as defined
in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to
which any Loan Party or any Subsidiary is an Affected Party (as so defined) and, in either event,
the Swap Termination Value owed by such Loan Party or such Subsidiary as a result thereof is
greater than the Threshold Amount; or

71

 

     (f) Insolvency Proceedings, Etc. Any Loan Party or any Subsidiary institutes or
consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment
for the benefit of creditors; or applies for or consents to the appointment of any receiver,
trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or
any material part of its property; or any receiver, trustee, custodian, conservator, liquidator,
rehabilitator or similar officer is appointed without the application or consent of such Person and
the appointment continues undischarged or unstayed for sixty calendar days; or any proceeding under
any Debtor Relief Law relating to any such Person or to all or any material part of its property is
instituted without the consent of such Person and continues undismissed or unstayed for sixty
calendar days, or an order for relief is entered in any such proceeding; or

     (g) Inability to Pay Debts; Attachment. (i) Any Loan Party or any Subsidiary becomes
unable or admits in writing its inability or fails generally to pay its debts as they become due,
or (ii) any writ or warrant of attachment or execution or similar process is issued or levied
against all or any material part of the property of any such Person and is not released, vacated or
fully bonded within forty-five days after its issue or levy; or

     (h) Judgments. There is entered against any Loan Party or any Subsidiary (i) one or
more final judgments or orders for the payment of money in existence at any one time in an
aggregate amount (as to all such judgments or orders) exceeding the Threshold Amount (to the extent
not covered by independent third-party insurance as to which the insurer has been notified of the
claim and does not dispute coverage), or (ii) any one or more non-monetary final judgments that
have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such
judgment or order, or (B) there is a period of ten consecutive days during which a stay of
enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or

     (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer
Plan which has resulted or could reasonably be expected to result in liability of any Loan Party
under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount
in excess of the Threshold Amount, or (ii) the Borrower or any ERISA Affiliate fails to pay when
due, after the expiration of any applicable grace period, any installment payment with respect to
its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate
amount in excess of the Threshold Amount; or

     (j) Invalidity of Loan Documents. Any Loan Document, at any time after its execution
and delivery and for any reason other than as expressly permitted hereunder or thereunder or
satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan
Party or any other Person contests in any manner the validity or enforceability of any Loan
Document; or any Loan Party denies that it has any or further liability or obligation under any
Loan Document, or purports to revoke, terminate or rescind any Loan Document; or

     (k) Change of Control. There occurs any Change of Control.

9.02 Remedies Upon Event of Default.

     If any Event of Default occurs and is continuing, the Administrative Agent shall, at the
request of, or may, with the consent of, the Required Lenders, take any or all of the following
actions:

72

 

     (a) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer
to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be
terminated;

     (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and
unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document
to be immediately due and payable, without presentment, demand, protest or other notice of any
kind, all of which are hereby expressly waived by the Borrower;

     (c) require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to
the then Outstanding Amount thereof); and

     (d) exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies
available to it, the Lenders and the L/C Issuer under the Loan Documents or applicable Law;

provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to the Borrower under the Bankruptcy Code of the United States, the
obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit
Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts as aforesaid shall automatically become due and payable, and the
obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall
automatically become effective, in each case without further act of the Administrative Agent or any
Lender.

9.03 Application of Funds.

     After the exercise of remedies provided for in Section 9.02 (or after the Loans have
automatically become immediately due and payable and the L/C Obligations have automatically been
required to be Cash Collateralized as set forth in the proviso to Section 9.02), any
amounts received on account of the Obligations shall be applied by the Administrative Agent in the
following order:

     First, to payment of that portion of the Obligations constituting fees,
indemnities, expenses and other amounts (including fees, charges and disbursements of
counsel to the Administrative Agent and amounts payable under Article III) payable
to the Administrative Agent in its capacity as such;

     Second, to payment of that portion of the Obligations constituting fees,
indemnities and other amounts (other than principal, interest and Letter of Credit Fees)
payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of
counsel to the respective Lenders and the L/C Issuer and amounts payable under Article
III), ratably among them in proportion to the respective amounts described in this
clause Second payable to them;

     Third, to payment of that portion of the Obligations constituting accrued and
unpaid Letter of Credit Fees and interest on the Loans and L/C Borrowings and fees, premiums
and scheduled periodic payments, and any interest accrued thereon, due under any Swap
Contract between any Loan Party or any Subsidiary and any Lender, or any Affiliate of a
Lender, ratably among the Lenders (and, in the case of such Swap Contracts, Affiliates of
Lenders) and the L/C Issuer in proportion to the respective amounts described in this clause
Third held by them;

     Fourth, to (a) payment of that portion of the Obligations constituting unpaid
principal of the Loans and L/C Borrowings, (b) payment of breakage, termination or other
payments, and any interest accrued thereon, due under any Swap Contract between any Loan
Party or any Subsidiary

73

 

and any Lender, or any Affiliate of a Lender, (c) payments of amounts due under any
Treasury Management Agreement between any Loan Party or any Subsidiary and any Lender, or
any Affiliate of a Lender and (d) Cash Collateralize that portion of L/C Obligations
comprised of the aggregate undrawn amount of Letters of Credit, ratably among the Lenders
(and, in the case of such Swap Contracts and Treasury Management Agreements, Affiliates of
Lenders) and the L/C Issuer in proportion to the respective amounts described in this clause
Fourth held by them; and

     Last, the balance, if any, after all of the Obligations have been indefeasibly
paid in full, to the Borrower or as otherwise required by Law.

     Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate undrawn
amount of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy
drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash
Collateral after all Letters of Credit have either been fully drawn or expired, such remaining
amount shall be applied to the other Obligations, if any, in the order set forth above.

ARTICLE X

ADMINISTRATIVE AGENT

10.01 Appointment and Authority.

     Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on
its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes
the Administrative Agent to take such actions on its behalf and to exercise such powers as are
delegated to the Administrative Agent by the terms hereof or thereof, together with such actions
and powers as are reasonably incidental thereto. The provisions of this Article are solely for the
benefit of the Administrative Agent, the Lenders and the L/C Issuer, and no Loan Party shall have
rights as a third party beneficiary of any of such provisions.

10.02 Rights as a Lender.

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

10.03 Exculpatory Provisions.

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

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

74

 

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

     (c) shall not, except as expressly set forth herein and in the other Loan Documents,
have any duty to disclose, and shall not be liable for the failure to disclose, any
information relating to any Loan Party or any of its Affiliates that is communicated to or
obtained by the Person serving as the Administrative Agent or any of its Affiliates in any
capacity.

     The Administrative Agent shall not be liable for any action taken or not taken by it (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be
necessary, under the circumstances as provided in Sections 11.01 and 9.02) or (ii)
in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall
be deemed not to have knowledge of any Default unless and until notice describing such Default is
given to the Administrative Agent by the Borrower, a Lender or the L/C Issuer.

     The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire
into (i) any statement, warranty or representation made in or in connection with this Agreement or
any other Loan Document, (ii) the contents of any certificate, report or other document delivered
hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the
occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document, or the creation,
perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the
value or the sufficiency of any Collateral, or (vi) the satisfaction of any condition set forth in
Article V or elsewhere herein, other than to confirm receipt of items expressly required to
be delivered to the Administrative Agent.

10.04 Reliance by Administrative Agent.

     The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing (including any electronic message, Internet or intranet website posting or other
distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated
by the proper Person. The Administrative Agent also may rely upon any statement made to it orally
or by telephone and believed by it to have been made by the proper Person, and shall not incur any
liability for relying thereon. In determining compliance with any condition hereunder to the
making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the
satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume that such
condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall
have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such
Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal
counsel (who may be counsel for the Loan Parties), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts.

75

 

10.05 Delegation of Duties.

     The Administrative Agent may perform any and all of its duties and exercise its rights and
powers hereunder or under any other Loan Document by or through any one or more sub-agents
appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform
any and all of its duties and exercise its rights and powers by or through their respective Related
Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the
Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their
respective activities in connection with the syndication of the credit facilities provided for
herein as well as activities as Administrative Agent.

10.06 Resignation of Administrative Agent.

     The Administrative Agent may at any time give notice of its resignation to the Lenders, the
L/C Issuer and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders
shall have the right, subject to the consent of the Borrower so long as no Default or Event of
Default exists (such consent not to be unreasonably withheld or delayed), to appoint a successor,
which shall be a bank with an office in the United States, or an Affiliate of any such bank with an
office in the United States. If no such successor shall have been so appointed by the Required
Lenders and shall have accepted such appointment within 30 days after the retiring Administrative
Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the
Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set
forth above; provided that if the Administrative Agent shall notify the Borrower and the
Lenders that no qualifying Person has accepted such appointment, then such resignation shall
nonetheless become effective in accordance with such notice and (a) the retiring Administrative
Agent shall be discharged from its duties and obligations hereunder and under the other Loan
Documents (except that in the case of any collateral security held by the Administrative Agent on
behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring
Administrative Agent shall continue to hold such collateral security until such time as a successor
Administrative Agent is appointed) and (b) all payments, communications and determinations provided
to be made by, to or through the Administrative Agent shall instead be made by or to each Lender
and the L/C Issuer directly, until such time as the Required Lenders appoint a successor
Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s
appointment as Administrative Agent hereunder, such successor shall succeed to and become vested
with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative
Agent, and the retiring Administrative Agent shall be discharged from all of its duties and
obligations hereunder or under the other Loan Documents (if not already discharged therefrom as
provided above in this Section). The fees payable by the Borrower to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise agreed between the
Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and
under the other Loan Documents, the provisions of this Article and Section 11.04 shall
continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their
respective Related Parties in respect of any actions taken or omitted to be taken by any of them
while the retiring Administrative Agent was acting as Administrative Agent.

     Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also
constitute its resignation as L/C Issuer and Swing Line Lender. Upon the acceptance of a
successor’s appointment as Administrative Agent hereunder, (i) such successor shall succeed to and
become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer and
Swing Line Lender, (ii) the retiring L/C Issuer and Swing Line Lender shall be discharged from all
of their respective duties and obligations hereunder or under the other Loan Documents, and (iii)
the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit,
if any, outstanding at the time of such succession

76

 

or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the
obligations of the retiring L/C Issuer with respect to such Letters of Credit.

10.07 Non-Reliance on Administrative Agent and Other Lenders.

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

10.08 No Other Duties; Etc.

     Anything herein to the contrary notwithstanding, none of the bookrunners, arrangers,
syndication agents, documentation agents or co-agents shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity,
as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder.

10.09 Administrative Agent May File Proofs of Claim.

     In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial
proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the
principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by
declaration or otherwise and irrespective of whether the Administrative Agent shall have made any
demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or
otherwise:

     (a) to file and prove a claim for the whole amount of the principal and interest owing
and unpaid in respect of the Loans, L/C Obligations and all other Obligations arising under
the Loan Documents that are owing and unpaid and to file such other documents as may be
necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the
Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and
their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer
and the Administrative Agent under Sections 2.03(h) and (i), 2.09
and 11.04) allowed in such judicial proceeding; and

     (b) to collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such
payments to the Administrative Agent and, if the Administrative Agent shall consent to the making
of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any
amount due for the reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent
under Sections 2.09 and 11.04.

     Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization,
arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the
L/C

77

 

Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender or
the L/C Issuer in any such proceeding.

10.10 Collateral and Guaranty Matters.

     The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option
and in its discretion,

     (a) to release any Lien on any property granted to or held by the Administrative Agent
under any Loan Document (i) upon termination of the Aggregate Revolving Commitments and
payment in full of all Obligations (other than contingent indemnification obligations) and
the expiration or termination of all Letters of Credit (other than Letters of Credit as to
which other arrangements satisfactory to the Administrative Agent and the L/C Issuer shall
have been made), (ii) that is transferred or to be transferred as part of or in connection
with any Disposition permitted hereunder or under any other Loan Document or any Involuntary
Disposition, or (iii) as approved in accordance with Section 11.01;

     (b) to subordinate any Lien on any property granted to or held by the Administrative
Agent under any Loan Document to the holder of any Lien on such property that is permitted
by Section 8.01(i); and

     (c) to release any Guarantor from its obligations under the Guaranty if such Person
ceases to be a Subsidiary as a result of a transaction permitted hereunder.

Upon request by the Administrative Agent at any time, the Required Lenders will confirm in
writing the Administrative Agent’s authority to release or subordinate its interest in
particular types or items of property, or to release any Guarantor from its obligations
under the Guaranty, pursuant to this Section 10.10.

ARTICLE XI

MISCELLANEOUS

11.01 Amendments, Etc.

     No amendment or waiver of any provision of this Agreement or any other Loan Document, and no
consent to any departure by any Loan Party therefrom, shall be effective unless in writing signed
by the Required Lenders and the Borrower or the applicable Loan Party, as the case may be, and
acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only
in the specific instance and for the specific purpose for which given; provided,
further, that

     (a) no such amendment, waiver or consent shall:

     (i) extend or increase the Commitment of a Lender (or reinstate any Commitment
terminated pursuant to Section 9.02) without the written consent of such Lender
whose Commitment is being extended or increased (it being understood and agreed that a
waiver of any condition precedent set forth in Section 5.02 or of any Default or a
mandatory reduction in Commitments is not considered an extension or increase in Commitments
of any Lender);

78

 

     (ii) postpone any date fixed by this Agreement or any other Loan Document for any
payment (excluding mandatory prepayments) of principal, interest, fees or other amounts due
to the Lenders (or any of them) or any scheduled reduction of the Commitments hereunder or
under any other Loan Document without the written consent of each Lender entitled to receive
such payment or whose Commitments are to be reduced;

     (iii) reduce the principal of, or the rate of interest specified herein on, any Loan or
L/C Borrowing, or (subject to clause (i) of the final proviso to this Section 11.01)
any fees or other amounts payable hereunder or under any other Loan Document without the
written consent of each Lender entitled to receive such amount; provided,
however, that only the consent of the Required Lenders shall be necessary to (A)
amend the definition of “Default Rate” or waive any obligation of the Borrower to pay
interest or Letter of Credit Fees at the Default Rate or (B) to amend any financial covenant
hereunder (or any defined term used therein) even if the effect of such amendment would be
to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee payable
hereunder;

     (iv) change Section 9.03 in a manner that would alter the pro rata sharing of
payments required thereby without the written consent of each Lender directly affected
thereby;

     (v) change any provision of this Section 11.01(a) or the definition of
“Required Lenders” without the written consent of each Lender directly affected thereby;

     (vi) release all or substantially all of the Collateral without the written consent of
each Lender whose Obligations are secured by such Collateral;

     (vii) release the Borrower without the consent of each Lender, or, except in connection
with a transaction permitted under Section 8.04 or Section 8.05, all or
substantially all of the value of the Guaranty without the written consent of each Lender
whose Obligations are guarantied thereby, except to the extent such release is permitted
pursuant to Section 10.10 (in which case such release may be made by the
Administrative Agent acting alone); or

     (b) unless also signed by the L/C Issuer, no amendment, waiver or consent shall affect the
rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any
Letter of Credit issued or to be issued by it;

     (c) unless also signed by the Swing Line Lender, no amendment, waiver or consent shall affect
the rights or duties of the Swing Line Lender under this Agreement; and

     (d) unless also signed by the Administrative Agent, no amendment, waiver or consent shall
affect the rights or duties of the Administrative Agent under this Agreement or any other Loan
Document;

provided, however, that notwithstanding anything to the contrary herein, (i) the
Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by
the parties thereto, (ii) each Lender is entitled to vote as such Lender sees fit on any bankruptcy
reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of
Section 1126(c) of the Bankruptcy Code of the United States supersedes the unanimous consent
provisions set forth herein and (iii) the Required Lenders shall determine whether or not to allow
a Loan Party to use cash collateral in the context of a bankruptcy or insolvency proceeding and
such determination shall be binding on all of the Lenders.

Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or
consent which

79

 

by its terms requires the consent of all Lenders or each affected Lender may be effected with the
consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of
any Defaulting Lender may not be increased or extended without the consent of such Lender and (y)
any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender
that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall
require the consent of such Defaulting Lender.

11.02 Notices; Effectiveness; Electronic Communications.

     (a) Notices Generally. Except in the case of notices and other communications
expressly permitted to be given by telephone (and except as provided in subsection (b) below), all
notices and other communications provided for herein shall be in writing and shall be delivered by
hand or overnight courier service, mailed by certified or registered mail or sent by facsimile or
telecopier as follows, and all notices and other communications expressly permitted hereunder to be
given by telephone shall be made to the applicable telephone number, as follows:

     (i) if to any Loan Party, the Administrative Agent, the L/C Issuer or the Swing Line
Lender, to the address, facsimile number, telecopier number, electronic mail address or
telephone number specified for such Person on Schedule 11.02; and

     (ii) if to any other Lender, to the address, telecopier number, electronic mail address
or telephone number specified in its Administrative Questionnaire (including, as
appropriate, notices delivered solely to the Person designated by a Lender on its
Administrative Questionnaire then in effect for the delivery of notices that may contain
material non-public information relating to the Borrower).

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

     (b) Electronic Communications. Notices and other communications to the Lenders and
the L/C Issuer hereunder may be delivered or furnished by electronic communication (including
e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative
Agent, provided that the foregoing shall not apply to notices to any Lender or the L/C
Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified
the Administrative Agent that it is incapable of receiving notices under such Article by electronic
communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it, provided that approval of such procedures may be limited to
particular notices or communications.

     Unless the Administrative Agent otherwise prescribes, (i) notices and other communications
sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement), provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next business day
for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the

80

 

intended recipient at its e-mail address as described in the foregoing clause (i) of
notification that such notice or communication is available and identifying the website address
therefor.

     (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR
THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE
BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR
FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its
Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any
Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of
any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the
Administrative Agent’s transmission of Borrower Materials through the Internet, except to the
extent that such losses, claims, damages, liabilities or expenses are determined by a court of
competent jurisdiction by a final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Agent Party; provided, however, that in no
event shall any Agent Party have any liability to the Borrower, any Lender, the L/C Issuer or any
other Person for indirect, special, incidental, consequential or punitive damages (as opposed to
direct or actual damages).

     (d) Change of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C
Issuer and the Swing Line Lender may change its address, telecopier or telephone number for notices
and other communications hereunder by notice to the other parties hereto. Each other Lender may
change its address, telecopier or telephone number for notices and other communications hereunder
by notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In
addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that
the Administrative Agent has on record (i) an effective address, contact name, telephone number,
telecopier number and electronic mail address to which notices and other communications may be sent
and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to
cause at least one individual at or on behalf of such Public Lender to at all times have selected
the “Private Side Information” or similar designation on the content declaration screen of the
Platform in order to enable such Public Lender or its delegate, in accordance with such Public
Lender’s compliance procedures and applicable Law, including United States Federal and state
securities Laws, to make reference to Borrower Materials that are not made available through the
“Public Side Information” portion of the Platform and that may contain material non-public
information with respect to the Borrower or its securities for purposes of United States Federal or
state securities laws.

     (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative
Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including
telephonic Loan Notices and Swing Line Loan Notices) purportedly given by or on behalf of any Loan
Party even if (i) such notices were not made in a manner specified herein, were incomplete or were
not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof,
as understood by the recipient, varied from any confirmation thereof. The Loan Parties shall
indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of
them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on
each notice purportedly given by or on behalf of a Loan Party. All telephonic notices to and other
telephonic communications with the Administrative Agent may be recorded by the Administrative
Agent, and each of the parties hereto hereby consents to such recording.

81

 

11.03 No Waiver; Cumulative Remedies; Enforcement.

     No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise, and no delay
by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as
a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder or under any other Loan Document 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, and provided under each other Loan Document are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by law.

     Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the
Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law
in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent in accordance with Section 9.02 for the benefit of all the Lenders and
the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) the
Administrative Agent from exercising on its own behalf the rights and remedies that inure to its
benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan
Documents, (b) the L/C Issuer or the Swing Line Lender from exercising the rights and remedies that
inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may
be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in
accordance with Section 11.08 (subject to the terms of Section 2.13), or (d) any
Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the
pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and
provided, further, that if at any time there is no Person acting as Administrative
Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the
rights otherwise ascribed to the Administrative Agent pursuant to Section 9.02 and (ii) in
addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject
to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any
rights and remedies available to it and as authorized by the Required Lenders.

11.04 Expenses; Indemnity; and Damage Waiver.

     (a) Costs and Expenses. The Loan Parties shall pay (i) all reasonable out-of-pocket
expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees,
charges and disbursements of counsel for the Administrative Agent), in connection with the
syndication of the credit facilities provided for herein, the preparation, negotiation, execution,
delivery and administration of this Agreement and the other Loan Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses
incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any
Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred
by the Administrative Agent or the L/C Issuer (including the fees, charges and disbursements of any
counsel for the Administrative Agent or the L/C Issuer) in connection with the enforcement or
protection of its rights (A) in connection with this Agreement and the other Loan Documents,
including its rights under this Section, or (B) in connection with the Loans made or Letters of
Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit; and (iv) all
out-of-pocket expenses incurred by any Lender (including the fees, charges and disbursements of any
counsel) in connection with the enforcement or protection of its rights (A) in connection with this
Agreement and the other Loan Documents, including its rights under this Section, or (B) in
connection with the Loans made or Letters of Credit issued hereunder, including all such
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of
such Loans or Letters of Credit; provided that pursuant to this subclause (iv), the Lenders
shall be entitled to reimbursement for no more than one

82

 

counsel representing all such Lenders (absent a conflict of interest in which case the Lenders
may engage and be reimbursed for additional counsel) and such special and/or local counsel for all
of the Lenders.

     (b) Indemnification by the Loan Parties. The Loan Parties shall indemnify the
Administrative Agent (and any sub-agent thereof), each Lender and the L/C Issuer, and each Related
Party of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities
and related expenses (including the fees, charges and disbursements of any counsel for any
Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time charges
and disbursements incurred by any Indemnitee or asserted against any Indemnitee by any third party
or by any Loan Party arising out of, in connection with, or as a result of (i) the execution or
delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated
hereby or thereby, the performance by the parties hereto of their respective obligations hereunder
or thereunder or the consummation of the transactions contemplated hereby or thereby, or, in the
case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the
administration of this Agreement and the other Loan Documents (including in respect of any matters
addressed in Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use of
the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under
a Letter of Credit if the documents presented in connection with such demand do not strictly comply
with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of
Hazardous Materials on or from any property owned or operated by a Loan Party or any of its
Subsidiaries, or any Environmental Liability related in any way to a Loan Party or any of its
Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other theory, whether
brought by a third party or by any Loan Party, and regardless of whether any Indemnitee is a party
thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE
COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by
final and nonappealable judgment to have resulted from the gross negligence or willful misconduct
of such Indemnitee or (y) result from a claim brought by any Loan Party against an Indemnitee for
breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if
such Loan Party has obtained a final and nonappealable judgment in its favor on such claim as
determined by a court of competent jurisdiction.

     (c) Reimbursement by Lenders. To the extent that the Loan Parties for any reason fail
to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by
them to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related Party of
any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such
sub-agent), the L/C Issuer or such Related Party, as the case may be, such Lender’s Applicable
Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment
is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified
loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted
against the Administrative Agent (or any such sub-agent) or the L/C Issuer in its capacity as such,
or against any Related Party of any of the foregoing acting for the Administrative Agent (or any
such sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders
under this subsection (c) are subject to the provisions of Section 2.12(d).

     (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable law, no Loan Party shall assert, and each Loan Party hereby waives, any claim against
any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive
damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result
of, this Agreement, any other Loan

83

 

Document or any agreement or instrument contemplated hereby, the transactions contemplated
hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee
referred to in subsection (b) above shall be liable for any damages arising from the use by
unintended recipients of any information or other materials distributed to such unintended
recipients by such Indemnitee through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Loan Documents or the
transactions contemplated hereby or thereby other than for direct or actual damages resulting from
the gross negligence or willful misconduct of such Indemnitee as determined by a final and
nonappealable judgment of a court of competent jurisdiction.

     (e) Payments. All amounts due under this Section shall be payable not later than ten
Business Days after written demand therefor.

     (f) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the L/C Issuer and the Swing Line Lender, the replacement of any Lender, the
termination of the Commitments and the repayment, satisfaction or discharge of all the other
Obligations.

11.05 Payments Set Aside.

     To the extent that any payment by or on behalf of any Loan Party is made to the Administrative
Agent, the L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender
exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof
is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or
such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in
connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of
such recovery, the obligation or part thereof originally intended to be satisfied shall be revived
and continued in full force and effect as if such payment had not been made or such setoff had not
occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative
Agent upon demand its applicable share (without duplication) of any amount so recovered from or
repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date
such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in
effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding
sentence shall survive the payment in full of the Obligations and the termination of this
Agreement.

11.06 Successors and Assigns.

     (a) Successors and Assigns Generally. The provisions of this Agreement and the other
Loan Documents shall be binding upon and inure to the benefit of the parties hereto and thereto and
their respective successors and assigns permitted hereby, except that the Borrower may not assign
or otherwise transfer any of its rights or obligations hereunder or thereunder without the prior
written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with
the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with
the provisions of subsection (d) of this Section or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of subsection (f) of this Section (and any other
attempted assignment or transfer by any party hereto shall be null and void). Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby,
the Related Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal
or equitable right, remedy or claim under or by reason of this Agreement.

84

 

     (b) Assignments by Lenders. Any Lender may at any time assign to one or more
assignees all or a portion of its rights and obligations under this Agreement and the other Loan
Documents (including all or a portion of its Commitment and the Loans (including for purposes of
this subsection (b), participations in L/C Obligations and in Swing Line Loans) at the time owing
to it); provided that any such assignment shall be subject to the following conditions:

     (i) Minimum Amounts.

     (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitment and the related Loans at the time owing to it or in
the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund,
no minimum amount need be assigned; and

     (B) in any case not described in subsection (b)(i)(A) of this Section, the
aggregate amount of the Commitment (which for this purpose includes Loans
outstanding thereunder) or, if the Commitment is not then in effect, the principal
outstanding balance of the Loans of the assigning Lender subject to each such
assignment, determined as of the date the Assignment and Assumption with respect to
such assignment is delivered to the Administrative Agent or, if “Trade Date” is
specified in the Assignment and Assumption, as of the Trade Date, shall not be less
than $5,000,000 unless each of the Administrative Agent and, so long as no Event of
Default has occurred and is continuing, the Borrower otherwise consents (each such
consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group and
concurrent assignments from members of an Assignee Group to a single assignee (or to
an assignee and members of its Assignee Group) will be treated as a single
assignment for purposes of determining whether such minimum amount has been met.

     (ii) Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s Loans and Commitments, and
rights and obligations with respect thereto, assigned, except that this clause (ii) shall
not apply to the Swing Line Lender’s rights and obligations in respect of Swing Line Loans;

     (iii) Required Consents. No consent shall be required for any assignment
except to the extent required by subsection (b)(i)(B) of this Section and, in addition:

     (A) the consent of the Borrower (such consent not to be unreasonably withheld)
shall be required unless (1) an Event of Default has occurred and is continuing at
the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a
Lender or an Approved Fund; provided that the Borrower shall be deemed to
have consented to any such assignment unless it shall object thereto by written
notice to the Administrative Agent within ten (10) Business Days after having
received notice thereof;

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

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

85

 

     (D) the consent of the Swing Line Lender (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment in respect of Revolving
Loans and Revolving Commitments.

     (iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee in the amount of $3,500; provided, however,
that the Administrative Agent may, in its sole discretion, elect to waive such processing
and recordation fee in the case of any assignment. The assignee, if it shall not be a
Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

     (v) No Assignment to Certain Persons. No such assignment shall be made to (A)
the Borrower or any of the Borrower’s Affiliates or Subsidiaries, (B) any Defaulting Lender
or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would
constitute any of the foregoing Persons described in this clause (B), or (C) a natural
person.

     (vi) Certain Additional Payments. In connection with any assignment of rights
and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions thereto set forth herein, the parties
to the assignment shall make such additional payments to the Administrative Agent in an
aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright
payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Borrower and the
Administrative Agent, the applicable pro rata share of Loans previously requested but not
funded by the Defaulting Lender, to each of which the applicable assignee and assignor
hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and
interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share
of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with
its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment
of rights and obligations of any Defaulting Lender hereunder shall become effective under
applicable Law without compliance with the provisions of this paragraph, then the assignee
of such interest shall be deemed to be a Defaulting Lender for all purposes of this
Agreement until such compliance occurs.

Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c)
of this Section, from and after the effective date specified in each Assignment and Assumption, the
assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this Agreement (and, in the
case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations
under this Agreement, such Lender shall cease to be a party hereto but shall continue to be
entitled to the benefits of Sections 3.01, 3.04, 3.05 and 11.04
with respect to facts and circumstances occurring prior to the effective date of such assignment).
Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee
Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that
does not comply with this subsection 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 subsection (d) of
this Section.

     (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower (and such agency being solely for tax purposes), shall maintain at the Administrative
Agent’s

86

 

Office a copy of each Assignment and Assumption delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of, and principal
amounts of the Loans 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 the
Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in
the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. In addition, the Administrative Agent shall maintain on
the Register information regarding the designation, and revocation of designation, of any Lender as
a Defaulting Lender. The Register shall be available for inspection by the Borrower and any Lender
at any reasonable time and from time to time upon reasonable prior notice.

     (d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower or the Administrative Agent, sell participations to any Person (other than a natural
person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this
Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s
participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that
(i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall
remain solely responsible to the other parties hereto for the performance of such obligations and
(iii) the Borrower, the Administrative Agent, the other Lenders and the L/C Issuer shall continue
to deal solely and directly with such Lender in connection with such Lender’s rights and
obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells
such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such agreement or instrument may provide that such Lender will not, without
the consent of the Participant, agree to any amendment, waiver or other modification described in
clauses (i) through (vii) of Section 11.01(a) that affects such Participant. Subject to
subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled to the
benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To
the extent permitted by Law, each Participant also shall be entitled to the benefits of
Section 11.08 as though it were a Lender, provided such Participant agrees to be
subject to Section 2.13 as though it were a Lender.

     (e) Limitation on Participant Rights. A Participant shall not be entitled to receive
any greater payment under Section 3.01 or 3.04 than the applicable Lender would
have been entitled to receive with respect to the participation sold to such Participant, unless
the sale of the participation to such Participant is made with the Borrower’s prior written
consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to
the benefits of Section 3.01 unless the Borrower is notified of the participation sold to
such Participant and such Participant agrees, for the benefit of the Borrower, to comply with
Section 3.01(e) as though it were a Lender.

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

     (g) Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of its
Revolving Commitment and Revolving Loans pursuant to subsection (b) above, Bank of America may, (i)
upon thirty days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon
thirty days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such
resignation as L/C Issuer

87

 

or Swing Line Lender, the Borrower shall be entitled to appoint from among the Lenders a
successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no
failure by the Borrower to appoint any such successor shall affect the resignation of Bank of
America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C
Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder
with respect to all Letters of Credit outstanding as of the effective date of its resignation as
L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders
to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section
2.03(c)). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of
the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and
outstanding as of the effective date of such resignation, including the right to require the
Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans
pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swing
Line Lender, (1) such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (2)
the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit,
if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank
of America to effectively assume the obligations of Bank of America with respect to such Letters of
Credit.

11.07 Treatment of Certain Information; Confidentiality.

     Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a)
to its Affiliates and to its and its Affiliates’ respective partners, directors, officers,
employees, agents, trustees, advisors and representatives (it being understood that the Persons to
whom such disclosure is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential), (b) to the extent requested by any regulatory
authority purporting to have jurisdiction over it (including any self-regulatory authority, such as
the National Association of Insurance Commissioners), (c) to the extent required by applicable laws
or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in
connection with the exercise of any remedies hereunder or under any other Loan Document or any
action or proceeding relating to this Agreement or any other Loan Document or the enforcement of
rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the
same as those of this Section, to (i) any assignee of or Participant in, or any prospective
assignee of or Participant in, any of its rights or obligations under this Agreement or any
Eligible Assignee invited to become a Lender pursuant to Section 2.01(b) or (ii) any actual
or prospective counterparty (or its advisors) to any swap or derivative transaction relating to a
Loan Party and its obligations, (g) with the consent of the Borrower or (h) to the extent such
Information (x) becomes publicly available other than as a result of a breach of this Section or
(y) becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their
respective Affiliates on a nonconfidential basis from a source other than the Borrower.

     For purposes of this Section, “Information” means all information received from a Loan
Party or any Subsidiary relating to the Loan Parties or any Subsidiary or any of their respective
businesses, other than any such information that is available to the Administrative Agent, any
Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by such Loan Party or any
Subsidiary, provided that, in the case of information received from a Loan Party or any
Subsidiary after the date hereof, such information is clearly identified at the time of delivery as
confidential. Any Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such
Person would accord to its own confidential information.

88

 

     Each of the Administrative Agent, the Lenders and the L/C Issuer acknowledges that (a) the
Information may include material non-public information concerning a Loan Party or a Subsidiary, as
the case may be, (b) it has developed compliance procedures regarding the use of material
non-public information and (c) it will handle such material non-public information in accordance
with applicable Law, including United States Federal and state securities Laws.

11.08 Set-off.

     If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and
each of their respective Affiliates is hereby authorized at any time and from time to time, after
obtaining the prior written consent of the Administrative Agent, to the fullest extent permitted by
applicable law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final, in whatever currency) at any time held and other obligations (in whatever
currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the
credit or the account of any Loan Party against any and all of the obligations of such Loan Party
now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C
Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand
under this Agreement or any other Loan Document and although such obligations of such Loan Party
may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer
different from the branch or office holding such deposit or obligated on such indebtedness;
provided, that in the event that any Defaulting Lender shall exercise any such right of
setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for
further application in accordance with the provisions of Section 2.15 and, pending such
payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in
trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender
shall provide promptly to the Administrative Agent a statement describing in reasonable detail the
Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The
rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in
addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C
Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify
the Borrower and the Administrative Agent promptly after any such setoff and application,
provided that the failure to give such notice shall not affect the validity of such setoff
and application.

11.09 Interest Rate Limitation.

     Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or
agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious
interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or
any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest
shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to
the Borrower. In determining whether the interest contracted for, charged, or received by the
Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted
by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or
premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c)
amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest
throughout the contemplated term of the Obligations hereunder.

11.10 Counterparts; Integration; Effectiveness.

     This Agreement may be executed in counterparts (and by different parties hereto in different
counterparts), each of which shall constitute an original, but all of which when taken together
shall constitute a single contract. This Agreement and the other Loan Documents constitute the
entire contract among the parties relating to the subject matter hereof and supersede any and all
previous agreements and

89

 

understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 5.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof
that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an
executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging
means shall be effective as delivery of a manually executed counterpart of this Agreement.

11.11 Survival of Representations and Warranties.

     All representations and warranties made hereunder and in any other Loan Document or other
document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive
the execution and delivery hereof and thereof. Such representations and warranties have been or
will be relied upon by the Administrative Agent and each Lender, regardless of any investigation
made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of
any Credit Extension, and shall continue in full force and effect as long as any Loan or any other
Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain
outstanding.

11.12 Severability.

     If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid
or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this
Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the
parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of
the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
Without limiting the foregoing provisions of this Section 11.12, if and to the extent that
the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be
limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C
Issuer or the Swing Line Lender, as applicable, then such provisions shall be deemed to be in
effect only to the extent not so limited.

11.13 Replacement of Lenders.

     If (i) any Lender requests compensation under Section 3.04, (ii) the Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the account
of any Lender pursuant to Section 3.01, (iii) a Lender (a “Non-Consenting Lender”)
does not consent to a proposed change, waiver, discharge or termination with respect to any Loan
Document that has been approved by the Required Lenders as provided in Section 11.01 but
requires unanimous consent of all Lenders or all Lenders directly affected thereby (as applicable)
or (iv) any Lender is a Defaulting Lender, then the Borrower may, at its sole expense and effort,
upon notice to such Lender and the Administrative Agent, require such Lender to assign and
delegate, without recourse (in accordance with and subject to the restrictions contained in, and
consents required by, Section 11.06), all of its interests, rights and obligations under
this Agreement and the related Loan Documents to an assignee that shall assume such obligations
(which assignee may be another Lender, if a Lender accepts such assignment), provided that:

     (a) the Borrower shall have paid to the Administrative Agent the assignment fee
specified in Section 11.06(b);

     (b) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all
other

90

 

amounts payable to it hereunder and under the other Loan Documents (including any
amounts under Section 3.05) from the assignee (to the extent of such outstanding
principal and accrued interest and fees) or the Borrower (in the case of all other amounts);

     (c) in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such
assignment will result in a reduction in such compensation or payments thereafter;

     (d) such assignment does not conflict with applicable Laws; and

     (e) in the case of any such assignment resulting from a Non-Consenting Lender’s failure
to consent to a proposed change, waiver, discharge or termination with respect to any Loan
Document, the applicable replacement bank, financial institution or Fund consents to the
proposed change, waiver, discharge or termination;

provided that the failure by such Lender to execute and deliver an Assignment and
Assumption shall not impair the validity of the removal of such Lender and the mandatory assignment
of such Lender’s Commitments and outstanding Loans and participations in L/C Obligations and Swing
Line Loans pursuant to this Section 11.13 shall nevertheless be effective without the
execution by such Lender of an Assignment and Assumption.

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

11.14 Governing Law; Jurisdiction; Etc.

     (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAW OF THE STATE OF NEW YORK.

     (b) SUBMISSION TO JURISDICTION. EACH LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY
SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE
OF NEW YORK SITTING IN NEW YORK CITY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN
DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT
OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL
CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK
STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF
THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE
CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY
RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY
OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

91

 

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

     (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS
IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT
THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

11.15 Waiver of Right to Trial by Jury.

     EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO
ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

11.16 No Advisory or Fiduciary Responsibility.

     In connection with all aspects of each transaction contemplated hereby (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document),
each of the Loan Parties acknowledges and agrees, and acknowledges its Affiliates’ understanding,
that: (i) (A) the arranging and other services regarding this Agreement provided by the
Administrative Agent and the Arranger, are arm’s-length commercial transactions between the Loan
Parties and their respective Affiliates, on the one hand, and the Administrative Agent and the
Arranger, on the other hand, (B) each of the Loan Parties has consulted its own legal, accounting,
regulatory and tax advisors to the extent it has deemed appropriate, and (C) each of the Loan
Parties is capable of evaluating, and understands and accepts, the terms, risks and conditions of
the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the Administrative
Agent and the Arranger each is and has been acting solely as a principal and, except as expressly
agreed in writing by the relevant parties, has not been, is not, and will not be acting as an
advisor, agent or fiduciary for the Loan Parties or any of their respective Affiliates, or any
other Person and (B) neither the Administrative Agent nor the Arranger has any obligation to the
Loan Parties or any of their respective Affiliates with respect to the transactions contemplated
hereby except those obligations expressly set forth herein and in the other Loan Documents; and
(iii) the Administrative Agent and the Arranger and their respective Affiliates may be engaged in a
broad range of transactions that involve interests that differ from those of the Loan Parties and
their respective Affiliates, and neither the Administrative Agent nor the Arranger has any
obligation to disclose any of such interests to the Loan Parties and their respective Affiliates.
To the fullest extent permitted by Law, each of the

92

 

Loan Parties hereby waives and releases any claims that it may have against the Administrative
Agent and the Arranger with respect to any breach or alleged breach of agency or fiduciary duty in
connection with any aspect of any transaction contemplated hereby.

11.17 Electronic Execution of Assignments and Certain Other Documents.

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

11.18 USA PATRIOT Act Notice.

     Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent
(for itself and not on behalf of any Lender) hereby notifies the Borrower 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 the
Borrower, which information includes the name and address of the Borrower and other information
that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in
accordance with the Act. The Borrower shall, promptly following a written request by the
Administrative Agent or any Lender, provide all documentation and other information that the
Administrative Agent or such Lender reasonably requests in order to comply with its ongoing
obligations under applicable “know your customer” and anti-money laundering rules and regulations,
including the Act.

[SIGNATURE PAGES FOLLOW]

93

 

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

	 	 	 	 	 
	BORROWER: 	TYLER TECHNOLOGIES, INC.,

a Delaware corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	ADMINISTRATIVE
AGENT: 	

 BANK OF AMERICA, N.A.,

as Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	LENDERS: 	BANK OF AMERICA, N.A.,

as a Lender, L/C Issuer and Swing Line Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	                                        ,

as a Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

Schedule 2.01

COMMITMENTS AND APPLICABLE PERCENTAGES

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Applicable Percentage	 
	 	 	 	 	 	 	of Revolving	 
	Lender	 	Revolving Commitment	 	 	Commitment	 
	Bank of America, N.A.
	 	$	28,000,000	 	 	 	18.666666667	%
	 
	 	 	 	 	 	 	 	 
	BBVA Compass Bank
	 	$	23,000,000	 	 	 	15.333333333	%
	 
	 	 	 	 	 	 	 	 
	Bank of Montreal
	 	$	23,000,000	 	 	 	15.333333333	%
	 
	 	 	 	 	 	 	 	 
	Wells Fargo Capital
Finance, LLC
	 	$	23,000,000	 	 	 	15.333333333	%
	 
	 	 	 	 	 	 	 	 
	RBS Citizens, National
Association
	 	$	23,000,000	 	 	 	15.333333333	%
	 
	 	 	 	 	 	 	 	 
	Amegy Bank, N.A.
	 	$	15,000,000	 	 	 	10.000000000	%
	 
	 	 	 	 	 	 	 	 
	Union Bank, N.A.
	 	$	15,000,000	 	 	 	10.000000000	%
	 
	 	 	 	 	 	 	 	 
	TOTAL
	 	$	150,000,000	 	 	 	100.000000000	%

 

 

Schedule 6.10

INSURANCE

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Type of	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Coverage	 	 	 	 	 	Policy	 	 	Expiration	 	 	Policy	 	 	 	 
	Property and Casualty	 	Carrier	 	 	Number	 	 	Date	 	 	Limits	 	 	Deductible	 
	Commercial Property
	 	Travelers	 	 	630 2299N830	 	 	01-Mar-11	 	$60M-Prop,	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	$22M-Bus Inter.	 	 	 	 
	Property
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	$	10,000	 
	Liability
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	$	0	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Auto Liability
	 	Travelers	 	 	BA2298N830	 	 	01-Mar-11	 	$1.0-Liab, plus	 	$	1,000	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Phy Dmg	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Umbrella Liability
	 	 	 	 	 	 	 	 	 	01-Mar-11	 	 	 	 	 	 	 	 
	Primary Liability
	 	Travelers	 	 	TE06904273	 	 	 	 	 	 	$	15,000,000	 	 	 	N/A	 
	Excess Liability
	 	Zurich	 	 	LQ1B71190099029	 	 	 	 	 	 	$	35,000,000	 	 	 	 	 

 

 

Schedule 6.13

SUBSIDIARIES

None.

 

 

Schedule 6.17

IP RIGHTS

	 	 	 	 	 	 	 
	Loan Party	 	Description of U.S. Patent, TM or Copyright	 	Registration Number
	Tyler Technologies,
Inc.

	 	DATASPARK (TM)
	 	 	3344005	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VERSATRANS ONSCREEN (TM)
	 	 	3286128	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	3001802	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	2997958	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VERSATRANS RP (TM)
	 	 	3057274	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	3053634	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VERICAST (TM)
	 	 	2907322	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	TYLER (TM)
	 	 	3821417	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	3821414	 

 

 

	 	 	 	 	 	 	 
	Loan Party	 	Description of U.S. Patent, TM or Copyright	 	Registration Number
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	3821411	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	EMPOWERING PEOPLE WHO SERVE THE PUBLIC (TM)
	 	 	3821410	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	IASWORLD (TM)
	 	 	3821406	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	ODYSSEY (TM)
	 	 	2857426	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VERSATRANS FLEETVISION (TM)
	 	 	2738128	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VERSATRANS E-LINK (TM)
	 	 	2581849	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VERSATRANS (TM)
	 	 	2294269	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	SCHOOLMASTER (TM)
	 	 	1788109	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	SCHOOLMASTER (TM)
	 	 	1758965	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	SCHOOLMASTER (TM)
	 	 	1751134	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	1713641	 

 

 

	 	 	 	 	 	 	 
	Loan Party	 	Description of U.S. Patent, TM or Copyright	 	Registration Number
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	1393565	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	MUNIS (TM)
	 	 	1522450	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	CLT (TM)
	 	 	1610740	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	1616006	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	WIZNET (TM)
	 	 	2862102	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Computer programs for school management system software (copyright)
	 	TX0005787568

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VersaTrans e-link (copyright)
	 	TX0006128091

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VersaTrans Metro Pass Manager (copyright)
	 	TXu001248579

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VersaTrans RP : VersaTrans systems for routing & planning :
version 8.0 (copyright)
	 	TX0006139575

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VersaTrans SIF agent (copyright)
	 	TX0006187256

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VersaTrans SIF agent (copyright)
	 	TX0006168605

 

 

	 	 	 	 	 	 	 
	Loan Party	 	Description of U.S. Patent, TM or Copyright	 	Registration Number
	Tyler Technologies,
Inc.

	 	VersaTrans SIF agent (copyright)
	 	TX0006145562

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VersaTrans SIF agent (copyright)
	 	TX0006168603

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VersaTrans SIF agent (copyright)
	 	TX0006185248

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	VersaTrans SIF agent / by VersaTrans Vision, Inc. (copyright)
	 	TX0006187489

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Extraction program (copyright)
	 	TXu001003586

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Image server & 9 other titles (copyright — recorded document)
	 	 	V3466D278	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Image server (copyright)
	 	TX0004433035

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	WIZNET NetSurfer (copyright)
	 	TX0004313492

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	PE (copyright)
	 	TXu000872881

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	PE (copyright)
	 	TXu000947047

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Log-in server (copyright)
	 	TXu000675148

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Log-in server (copyright)
	 	TXu000975425

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	e-Commerce portal (copyright)
	 	TXu000903674

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Client program (copyright)
	 	TXu000941004

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Backend server program (copyright)
	 	TXu000941005

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Imaging program (copyright)
	 	TXu000941006

 

 

	 	 	 	 	 	 	 
	Loan Party	 	Description of U.S. Patent, TM or Copyright	 	Registration Number
	Tyler Technologies,
Inc.

	 	Log in server program (copyright)
	 	TXu000941008

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	WWW server program (copyright)
	 	TXu000941007

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Imaging (copyright)
	 	TXu001003583

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	OCI (copyright)
	 	TXu001003582

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Prime mover (copyright)
	 	TXu001003584

	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	Wiznet demo (copyright)
	 	TXu001003585

	 
	 	 	 	 	 	 

	 	 	 	 	 	 	 
	Loan Party	 	Description of U.S. Patent, TM or Copyright	 	Application Number
	Tyler Technologies,
Inc.

	 	SESSIONWORKS (TM)
	 	 	85008525	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	INCODE (TM)
	 	 	85016958	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	TYLER (TM)
	 	 	77888481	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	77888470	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	77888451	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	EMPOWERING PEOPLE WHO SERVE THE PUBLIC (TM)
	 	 	77888433	 

 

 

	 	 	 	 	 	 	 
	Loan Party	 	Description of U.S. Patent, TM or Copyright	 	Application Number
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	77888460	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	77888449	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	TYLER (TM)
	 	 	77888477	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	77888464	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	TYLER (TM)
	 	 	77888482	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	(TM)
	 	 	77888466	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	EMPOWERING PEOPLE WHO SERVE THE PUBLIC (TM)
	 	 	77888431	 
	 
	 	 	 	 	 	 
	Tyler Technologies,
Inc.

	 	EMPOWERING PEOPLE WHO SERVE THE PUBLIC (TM)
	 	 	77888426	 

 

 

Schedule 6.20(a)

LOCATIONS OF REAL PROPERTY

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Street	 	City	 	State	 	Zip	 	Description	 	 
	 
	5949 Sherry Lane
Suite 1400

	 	Dallas
	 	TX
	 	 	75225	 	 	Office — HDQ
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	One Cole Haan Drive

	 	Yarmouth
	 	ME
	 	 	04096-6706	 	 	Office
	 	Owned
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	3199 Klepinger Road

	 	Dayton
	 	OH
	 	 	45406	 	 	Office
	 	Owned
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	5519 53rd Street

	 	Lubbock
	 	TX
	 	 	79404	 	 	Office
	 	Owned
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	360 North Congress Avenue

	 	Del Ray Beach
	 	FL
	 	 	33445	 	 	Office
	 	Owned
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	1512 Colony Drive

	 	Longview
	 	TX
	 	 	75604	 	 	Office
	 	Owned
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	700 Mount Hope
Avenue, Suite 101

	 	Bangor
	 	ME
	 	 	04401	 	 	Office
	 	Owned
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	6500 International Pkwy, #2000

	 	Plano
	 	TX
	 	 	75093	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	370 US Route 1

	 	Falmouth
	 	ME
	 	 	04105	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	360 US Route 1

	 	Falmouth
	 	ME
	 	 	04105	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	358 US Route 1

	 	Falmouth
	 	ME
	 	 	04015	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	1100 Oakesdale Ave.
SW

	 	Renton
	 	WA
	 	 	98055	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	1601 West Valley Frontage

	 	Renton
	 	WA
	 	 	98056	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	911 W Loop 281

	 	Longview
	 	TX
	 	 	75606	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	4 British American
Blvd.

	 	Latham
	 	NY
	 	 	12110-1419	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	1700 W. Park Drive

	 	Westborough
	 	MA
	 	 	01581	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	2604 East Dempster

	 	Park Ridge
	 	IL
	 	 	60068	 	 	Office
	 	Leased
	 
	3550 North Central Avenue

	 	Phoenix
	 	AZ
	 	 	 	 	 	Office
	 	Leased

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Street	 	City	 	State	 	Zip	 	Description	 	 
	 
	900 Ridgefield Dr.,
#280

	 	Raleigh
	 	NC
	 	 	27604	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	116 Cliff Cave Road

	 	St. Louis
	 	MO
	 	 	63129	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	22500 IL Route 9

	 	Tremont
	 	IL
	 	 	61568	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	140 Cliff Cave Road

	 	St. Louis
	 	MO
	 	 	63128	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	800 W. Cummings
Park Suite 4400

	 	Woburn
	 	MA
	 	 	01801	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	2850 Mt. Pleasant
Street

	 	Burlington
	 	IA
	 	 	52601	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	2114 Canton Way -Building 8

	 	Olympia
	 	WA
	 	 	98502	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	1390 Willow Pass Rd.

	 	Concord
	 	CA
	 	 	94520	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	4624 Morris Ave South

	 	Renton
	 	WA
	 	 	98056	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	12 Goose Lane

	 	Tolland
	 	CT
	 	 	06084	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Entergy Corporation
Building,
639 Loyola Ave,
Suite 2450

	 	New Orleans
	 	LA
	 	 	70113	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	5090 Central Highway Suite #7

	 	Pennsauken
	 	NJ
	 	 	08109	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	200 Old Country Rd.
Ste 265

	 	Mineola
	 	NY
	 	 	11501	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	10617 W. Oklahoma
Ave

	 	West Allis
	 	WI
	 	 	53227-4152	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	33 Court Street

	 	Point Pleasant
	 	WV
	 	 	25550	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	246 Misty Oaks Court

	 	Dayton
	 	OH
	 	 	45415	 	 	Office
	 	Leased
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	12 Mary Street

	 	Dover
	 	DE
	 	 	19901	 	 	Office
	 	Leased

 

 

Schedule 6.20(b)

LOCATIONS OF TANGIBLE PERSONAL PROPERTY

None.

 

 

Schedule 6.20(c)

LOCATION OF CHIEF EXECUTIVE OFFICE, TAXPAYER IDENTIFICATION NUMBER, ETC.

1. Chief Executive Office: 5949 Sherry Lane, Suite 1400, Dallas, Texas 75225

2. Exact Legal Name: Tyler Technologies, Inc.

3. U.S. Tax Payer Identification Number: 75-2303920

4. Organizational Identification Number: 2213292

 

 

Schedule 6.20(d)

CHANGES IN LEGAL NAME, STATE OF FORMATION AND STRUCTURE

1. Changes in Legal Name during the five years preceding the Closing Date: None.

2. Changes in State of Formation during the five years preceding the Closing Date: None.

3. Mergers, Consolidations or Other Changes in Structure during the five years preceding the
Closing Date:

	 	 	 	 	 
	 	 	Mergers/Corporate Structure	 	Date of Transaction
	Current Legal Name	 	Changes in Past Five Years	 	or Change
	Tyler Technologies, Inc.
	 	MazikUSA, Inc., an Illinois
corporation
	 	2/16/06
	 
	Tyler Technologies, Inc.
	 	TACS, Inc., a Massachusetts
corporation
	 	2/16/06
	 
	Tyler Technologies, Inc.
	 	Advanced Data Systems, a Maine
corporation
	 	2/23/07
	 
	Tyler Technologies, Inc.
	 	EDP Enterprises, Inc., a Texas
corporation
	 	9/4/07
	 
	Tyler Technologies, Inc.
	 	VersaTrans Solutions
Incorporated, a NY corporation
	 	1/31/08
	 
	Tyler Technologies, Inc.
	 	SIS, Inc., a Missouri corporation
	 	8/29/08
	 
	Tyler Technologies, Inc.
	 	Assessment Evaluation Services,
Inc., a California corporation
	 	4/6/09

 

 

Schedule 6.20(e)

DEPOSIT AND INVESTMENT ACCOUNTS

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Account Balance
	 	 	 	 	 	 	Greater the
	 	 	Financial	 	 	 	$100,000 on the
	Loan Party	 	Institution Name	 	Account Number	 	Closing Date
	Tyler Technologies, Inc.
	 	Bank of Texas N.A.
	 	2880546820
	 	Yes
	 
	Tyler Technologies, Inc.
	 	Hightower
Securities /Treasury
Partners
	 	395-03945 514
	 	Yes
	 
	Tyler Technologies, Inc.
	 	BOSC, Inc.
	 	4NC-396146
	 	Yes
	 
	Tyler Technologies, Inc.
	 	Bank of Texas N.A.
	 	8090221452
	 	Yes
	 
	Tyler Technologies, Inc.
	 	First National Bank
— Ames, IA
	 	120294
	 	No
	 
	Tyler Technologies, Inc.
	 	American State Bank
— Lubbock, TX
	 	10027022
	 	No
	 
	Tyler Technologies, Inc.
	 	American State Bank
— Lubbock, TX
	 	95753
	 	No
	 
	Tyler Technologies, Inc.
	 	Wells Fargo Bank
	 	7130-108-758
	 	No
	 
	Tyler Technologies, Inc.
	 	Key Bank
	 	34202502
	 	No
	 
	Tyler Technologies, Inc.
	 	PNC Bank
	 	46-1115-6205
	 	No
	 
	Tyler Technologies, Inc.
	 	PNC Bank
	 	685448384
	 	No
	 
	Tyler Technologies, Inc.
	 	Legacy Bank
	 	817668
	 	No

 

 

Schedule 8.01

LIENS EXISTING ON THE CLOSING DATE

1. Liens in favor of Bank of Texas, N.A. on cash securing letters of credit issued by Bank of
Texas, N.A. and listed on Schedule 8.03, until such letters of credit are replaced by letters of
credit issued by L/C Issuer.

 

 

Schedule 8.02

INVESTMENTS EXISTING ON THE CLOSING DATE

None.

 

 

Schedule 8.03

INDEBTEDNESS EXISTING ON THE CLOSING DATE

1. The following letters of credit issued by Bank of Texas, N.A.:

	 	 	 	 	 	 	 
	AMOUNT	 	L/C #	 	BENEFICIARY	 	DATE OF EXPIRATION
	$500,000

	 	BOKO4SDF01807
	 	Nat’l Fire Insurance Co.
	 	04/09/11
	 
	 	 	 	 	 	 
	$2,000,000

	 	BOKO3SDF01250
	 	Nat’l Fire Insurance Co.
	 	06/04/11
	 
	 	 	 	 	 	 
	$500,000

	 	BOKO3SDF01195
	 	Western Surety Co.
	 	05/09/11
	 
	 	 	 	 	 	 
	$250,000

	 	BOKO4SDF01658
	 	Nat’l Fire Insurance Co.
	 	01/09/11
	 
	 	 	 	 	 	 
	$5,000,000

	 	BOKO6SDF03276
	 	Travelers Casualty & Surety Co of America
	 	05/05/11

 

 

Schedule 11.02

CERTAIN ADDRESSES FOR NOTICES

Loan Parties:

Tyler Technologies, Inc.

5949 Sherry Lane, Suite 1400

Dallas, Texas 75225

Attention: Brian Miller, Executive Vice President

                    and Chief Financial Officer

Telephone: (972) 713-3720

Facsimile: (972) 713-3741

Website: www.tylertech.com

Administrative Agent:

For operational notices (borrowings, payments, etc.)

Bank of America, N.A.

Building B, 2001 Clayton Road

CA4-702-02-25

Concord, CA 94520

Attention: Yamila Faamausili

Telephone: (925) 675-8075

Telecopier: (888) 969-9252

Electronic Mail: yamila.faamausili@baml.com

For other purposes:

Bank of America, N.A.

Agency Management

1455 Market Street, 5th Floor

CA5-701-15-19

San Francisco, CA 94103

Attention: Joan Mok

Telephone: (415) 436-3496

Telecopier: (415) 503-5085

Electronic Mail: joan.mok@baml.com

Bank of America, N.A., as L/C Issuer:

Bank of America, N.A.

Trade Operations

1000 W. Temple Street

Mail Code: CA9-705-07-05

Los Angeles, CA 90012

Attention: Stella Rosales

Telephone: 213-481-7828

Telecopier: 213-457-8841

Electronic Mail: Stella.rosales@baml.com

 

 

SWING LINE LENDER:

Bank of America, N.A.

Building B, 2001 Clayton Road

CA4-702-02-25

Concord, CA 94520

Attention: Yamila Faamausili

Telephone: (925) 675-8075

Telecopier: (888) 969-9252

Electronic Mail: yamila.faamausili@baml.com

Bank of America, N.A.

New York, NY

Account No: 3750836479

ABA# 026009593

Attn: Credit Services

Ref: Tyler Technologies

 

 

Exhibit 2.02

FORM OF LOAN NOTICE

Date:                                         ,                     

	To: Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

Reference is made to that certain Credit Agreement, dated as of August 11, 2010 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the
“Agreement;” the terms defined therein being used herein as therein defined), among Tyler
Technologies, Inc., a Delaware corporation (the “Borrower”), the Guarantors party thereto,
the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent.

The undersigned hereby requests (select one):

	 	 	 	o A Borrowing of Revolving Loans
	 
	 	 	 	o A conversion or continuation of Revolving Loans

	 	1.	 	On                      (a Business Day).
	 
	 	2.	 	In the amount of $                      .
	 
	 	3.	 	Comprised of                      .

[Type of Loan requested]
	 
	 	4.	 	For Eurodollar Rate Loans: with an Interest Period of                      months.

[With respect to such Borrowing, the Borrower hereby represents and warrants that (i) such request
complies with the requirements of Section 2.01 of the Credit Agreement and (ii) each of the
conditions set forth in Section 5.02 of the Credit Agreement have been satisfied on and as
of the date of such Borrowing.]

	 	 	 	 	 
	 	TYLER TECHNOLOGIES, INC.,

a Delaware corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Exhibit 2.04

FORM OF SWING LINE LOAN NOTICE

Date:                     , 20       

	 	 	 

	To:

	 	Bank of America, N.A., as Swing Line Lender
	 
	 	 
	Cc:

	 	Bank of America, N.A., as Administrative Agent
	 
	 	 
	Re:

	 	Credit Agreement (as amended, modified, supplemented
and extended from time to time, the “Credit
Agreement”) dated as of August 11, 2010 among Tyler
Technologies, Inc., a Delaware corporation (the
“Borrower”), the Guarantors party thereto, the
Lenders identified therein, and Bank of America,
N.A., as Administrative Agent. Capitalized terms
used but not otherwise defined herein have the
meanings provided in the Credit Agreement.

Ladies and Gentlemen:

The undersigned hereby requests a Swing Line Loan:

	 	 	 

	1.    

	 	On                      , 20        (a Business Day).
	 
	 	 
	2.

	 	In the amount of $                    .

With respect to such Borrowing of Swing Line Loans, the Borrower hereby represents and warrants
that (i) such request complies with the requirements of the first proviso to the first sentence of
Section 2.04(a) of the Credit Agreement and (ii) each of the conditions set forth in
Section 5.02 of the Credit Agreement have been satisfied on and as of the date of such
Borrowing of Swing Line Loans.

	 	 	 	 	 
	 	TYLER TECHNOLOGIES, INC.,

a Delaware corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Exhibit 2.11(a)

FORM OF NOTE

                    , 20       

     FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to
                                         or registered assigns (the “Lender”), in accordance with the
provisions of the Agreement (as hereinafter defined), the principal amount of each Loan from time
to time made by the Lender to the Borrower under that certain Credit Agreement, dated as of August
[_], 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time
to time, the “Agreement;” the terms defined therein being used herein as therein defined),
among the Borrower, the Guarantors party thereto, the Lenders from time to time party thereto, and
Bank of America, N.A., as Administrative Agent.

     The Borrower promises to pay interest on the unpaid principal amount of each Loan from the
date of such Loan until such principal amount is paid in full, at such interest rates and at such
times as provided in the Agreement. All payments of principal and interest shall be made to the
Administrative Agent for the account of the Lender in Dollars in immediately available funds at the
Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of
actual payment (and before as well as after judgment) computed at the per annum rate set forth in
the Agreement.

     This Note is one of the Notes referred to in the Agreement, is entitled to the benefits
thereof and may be prepaid in whole or in part subject to the terms and conditions provided
therein. Upon the occurrence and during the continuation of one or more of the Events of Default
specified in the Agreement, all amounts then remaining unpaid on this Note shall become, or may be
declared to be, immediately due and payable all as provided in the Agreement. Loans made by the
Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the
ordinary course of business. The Lender may also attach schedules to this Note and endorse thereon
the date, amount and maturity of its Loans and payments with respect thereto.

     The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment,
protest and demand and notice of protest, demand, dishonor and non-payment of this Note.

     THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.

	 	 	 	 	 
	 	TYLER TECHNOLOGIES, INC.,

a Delaware corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Exhibit 7.02

FORM OF COMPLIANCE CERTIFICATE

             For the fiscal quarter ended                                         , 20       .

     I,                                         , [Title] of TYLER TECHNOLOGIES, INC., a Delaware corporation (the
“Borrower”) hereby certify that, to the best of my knowledge and belief, with respect to
that certain Credit Agreement dated as of [                    ], 2010 (as amended, modified, restated or
supplemented from time to time, the “Credit Agreement”; all of the defined terms in the
Credit Agreement are incorporated herein by reference) among the Borrower, the Guarantors, the
Lenders and Bank of America, N.A., as Administrative Agent:

	 	(a)	 	The company-prepared financial statements which accompany this certificate are
true and correct in all material respects and have been prepared in accordance with
GAAP applied on a consistent basis, subject to the absence of footnotes and changes
resulting from normal year-end audit adjustments.
	 
	 	(b)	 	As of the date hereof, there is no Default or Event of Default under the Credit
Agreement;
	 
	 	(c)	 	(select one):
	 
	 	o 	 	Attached hereto are such supplements to Schedules 6.13 (Subsidiaries),
6.17 (IP Rights), 6.20(a) (Locations of Real Property), 6.20(b)
(Locations of Tangible Personal Property), 6.20(c) (Location of Chief
Executive Office, Taxpayer Identification Number, Etc.), 6.20(d)
(Changes in Legal Name, State of Formation and Structure) and 6.20(e)
(Deposit and Investment Accounts) of the Credit Agreement, such that,
as supplemented, such Schedules are accurate and complete as of the
date hereof.

	 
	 	o 	 	No such supplements are required at this time.

     Delivered herewith are detailed calculations demonstrating compliance by the Loan Parties with
the financial covenants contained in Section 8.11 of the Credit Agreement as of the end of the
fiscal period referred to above.

          This                      day of                     , 20       .

	 	 	 	 	 
	 	TYLER TECHNOLOGIES, INC.,

a Delaware corporation

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Attachment to Officer’s Certificate

Computation of Financial Covenants

For the Fiscal Quarter/Fiscal Year ended                                         , 20                     (the “Statement Date”)

	 	 	 	 	 	 	 	 
	
	1. Consolidated Leverage Ratio
	 	 
	 	 	 	
	 	 	 	 
	 	(a)	Consolidated Funded Indebtedness as of the Statement Date
	 	 	 	 
	 	 	 	
	 	 	 	 
	 	 	(i)	all obligations for borrowed money, whether current or long-term
(including the Obligations) and all obligations evidenced by bonds,
debentures, notes, loan agreements or other similar instruments:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(ii) 	purchase money Indebtedness:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(iii) 	the maximum amount available to be drawn under letters of credit
(including standby and commercial), bankers’ acceptances, bank
guaranties, surety bonds and similar instruments:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(iv) 	all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the
ordinary course of business):
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(v) 	all Attributable Indebtedness:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(vi) 	all obligations to purchase, redeem, retire, defease or otherwise
make any payment prior to the Maturity Date in respect of any
Equity Interests or any warrant, right or option to acquire such
Equity Interest, valued, in the case of a redeemable preferred
interest, at the greater of its voluntary or involuntary
liquidation preference plus accrued and unpaid dividends:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(vii) 	all Guarantees with respect to Indebtedness of the types specified
in clauses (i) through (vi) above of another Person:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(viii) 	all Indebtedness of the types referred to in clauses (i) through
(vii) above of any partnership or joint venture (other than a joint
venture that is itself a corporation or limited liability company)
in which any Loan Party or any Subsidiary is a general partner or
joint venturer, except to the extent that Indebtedness is expressly
made non-recourse to such Person:

	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(ix) 	Consolidated Funded Indebtedness
	 	 	 	 
	 	 	 	(i)+(ii)+(iii)+(iv)+(v)+(vi)+(vii)+(viii)
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	(b)	Consolidated EBITDA for the four quarter period ending on the Statement Date
	 	 	 	 
	 	 	 	
	 	 	 	 
	 	 	(i) 	Consolidated Net Income for such period:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(ii) 	Consolidated Interest Charges for such period:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(iii) 	the provision for federal, state, local and foreign income taxes
payable for such period:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(iv) 	the amount of depreciation and amortization expense for such period:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(v) 	non-cash stock compensation expense for such period:
	 	$	                    	 
	 	 	 	
	 	 	 	 
	 	 	(vi) 	Consolidated EBITDA:
	 	 	 	 
	 	 	 	(i)+(ii)+(iii)+(iv)+(v)
	 	$	                    	 

 

 

	 	 	 	 	 	 	 	 

	 	(c) 	Consolidated Leverage Ratio
	 	                     to 1.0
	 	 	(a)(ix) / (b)(vi)
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Maximum permitted: 2.50 to 1.0
	 	 	 	 
	 	 	 	 
	 	 	 	 
	2. 	Consolidated Fixed Charge Coverage Ratio
	 	 	 	 
	 
	 	 	(a) 	Consolidated EBITDA for the four quarter period ending on the Statement Date (see Line 1(b)(vi) above):
	 	$	                    	 
	 	 	 	 
	 	 	 	 
	 	 	(b) 	Consolidated Capital Expenditures for such period:
	 	$	                    	 
	 	 	 	 
	 	 	 	 
	 	 	(c) 	Income taxes paid in cash during such period:
	 	$	                    	 
	 	 	 	 
	 	 	 	 
	 	 	(d) 	(a) — (b) — (c):
	 	$	                    	 
	 	 	 	 
	 	 	 	 
	 	 	(e) 	the cash portion of Consolidated Interest Charges for the four quarter period ending on the Statement Date:
	 	$	                    	 
	 	 	 	 
	 	 	 	 
	 	 	(f) 	Consolidated Fixed Charge Coverage Ratio
	 	________ to 1.0
	 	 	 	(d) / (e)
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Maximum permitted: 2.00 to 1.0
	 	 	 	 

 

 

Exhibit 7.13

FORM OF JOINDER AGREEMENT

          THIS JOINDER AGREEMENT (the “Agreement”), dated as of              
        , 20___, is by and
between                   
                   
    , a                
                   
       (the “Subsidiary”), and BANK OF
AMERICA, N.A., in its capacity as Administrative Agent under that certain Credit Agreement (as it
may be amended, modified, restated or supplemented from time to time, the “Credit
Agreement”), dated as of [             
       ], 2010, by and among TYLER TECHNOLOGIES, INC., a Delaware
corporation (the “Borrower”), the Guarantors, the Lenders and Bank of America, N.A., as
Administrative Agent. All of the defined terms in the Credit Agreement are incorporated herein by
reference.

          The Loan Parties are required by Section 7.13 of the Credit Agreement to cause the
Subsidiary to become a “Guarantor”.

          Accordingly, the Subsidiary hereby agrees as follows with the Administrative Agent, for the
benefit of the Lenders:

          1. The Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this
Agreement, the Subsidiary will be deemed to be a party to the Credit Agreement and a “Guarantor”
for all purposes of the Credit Agreement, and shall have all of the obligations of a Guarantor
thereunder as if it had executed the Credit Agreement. The Subsidiary hereby ratifies, as of the
date hereof, and agrees to be bound by, all of the terms, provisions and conditions applicable to
the Guarantors contained in the Credit Agreement. Without limiting the generality of the foregoing
terms of this paragraph 1, the Subsidiary hereby jointly and severally together with the other
Guarantors, guarantees to each Lender and the Administrative Agent, as provided in Article
IV of the Credit Agreement, the prompt payment of the Obligations in full when due (whether at
stated maturity, as a mandatory prepayment, by acceleration, a mandatory cash collateralization or
otherwise) strictly in accordance with the terms thereof.

          2. The Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this
Agreement, the Subsidiary will be deemed to be a party to the Security Agreement, and shall have
all the obligations of an “Obligor” (as such term is defined in the Security Agreement) thereunder
as if it had executed the Security Agreement. The Subsidiary hereby ratifies, as of the date
hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the
Security Agreement. Without limiting generality of the foregoing terms of this paragraph 2, the
Subsidiary hereby grants to the Administrative Agent, for the benefit of the Lenders, a continuing
security interest in, and a right of set off against any and all right, title and interest of the
Subsidiary in and to the Collateral (as such term is defined in Section 2 of the Security
Agreement) of the Subsidiary. The Subsidiary hereby represents and warrants to the Administrative
Agent that:

     (i) The Subsidiary’s chief executive office, tax payer identification number,
organization identification number, and chief place of business are (and for the prior four
months have been) located at the locations set forth on Schedule 1 attached hereto and the
Subsidiary keeps its books and records at such locations.

     (ii) The location of all owned and leased real property of the Subsidiary is as shown
on Schedule 2 attached hereto.

     (iii) The Subsidiary’s legal name and jurisdiction of organization is as shown in this
Agreement and the Subsidiary has not in the past four months changed its name, been party to
a merger, consolidation or other change in structure or used any tradename except as set
forth in Schedule 3 attached hereto.

 

 

     (iv) The patents, copyrights, and trademarks listed on Schedule 4 attached hereto
constitute all of the registrations and applications for the patents, copyrights and
trademarks owned by the Subsidiary.

     (v) The deposit accounts and investment accounts listed on Schedule 5 attached hereto
constitute all of the deposit accounts and investment accounts owned by the Subsidiary.

          3. The address of the Subsidiary for purposes of all notices and other communications is
                                         ,                                         
, Attention of                      (Facsimile No.
                     ).

          4. The Subsidiary hereby waives acceptance by the Administrative Agent and the Lenders of the
guaranty by the Subsidiary under Article IV of the Credit Agreement upon the execution of this
Agreement by the Subsidiary.

          5. This Agreement may be executed in two or more counterparts, each of which shall constitute
an original but all of which when taken together shall constitute one contract.

          6. This Agreement shall be governed by and construed and interpreted in accordance with the
laws of the State of New York.

          IN WITNESS WHEREOF, the Subsidiary has caused this Joinder Agreement to be duly executed by
its authorized officers, and the Administrative Agent, for the benefit of the Lenders, has caused
the same to be accepted by its authorized officer, as of the day and year first above written.

	 	 	 	 	 
	 	[SUBSIDIARY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Acknowledged and accepted:

BANK OF AMERICA, N.A.,

as Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

Schedule 1

TO FORM OF JOINDER AGREEMENT

[Chief Executive Office, Tax Identification Number, Organization Identification Number

and Chief Place of Business of Subsidiary]

 

 

Schedule 2

TO FORM OF JOINDER AGREEMENT

[Owned and Leased Real Property]

 

 

Schedule 3

TO FORM OF JOINDER AGREEMENT

[Tradenames]

 

 

Schedule 4

TO FORM OF JOINDER AGREEMENT

[Patents, Copyrights, and Trademarks]

 

 

Schedule 5

TO FORM OF JOINDER AGREEMENT

[Deposit and Investment Accounts]

 

 

Exhibit 11.06(b)

FORM OF ASSIGNMENT AND ASSUMPTION

     This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the
Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the
“Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used
but not defined herein shall have the meanings given to them in the Credit Agreement identified
below (the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the
Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed
to and incorporated herein by reference and made a part of this Assignment and Assumption as if set
forth herein in full.

          For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations as a Lender under the Credit Agreement and any other documents or
instruments delivered pursuant thereto to the extent related to the amount and percentage interest
identified below of all of such outstanding rights and obligations of the Assignor under the
respective facilities identified below (including, without limitation, Letters of Credit,
Guarantees and Swing Line Loans included in such facilities) and (ii) to the extent permitted to be
assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including, but not limited to, contract claims, tort claims, malpractice claims,
statutory claims and all other claims at law or in equity related to the rights and obligations
sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned
pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as
expressly provided in this Assignment and Assumption, without representation or warranty by the
Assignor.

	 	 	 	 	 

	1.

	 	Assignor:
	 	              
                   
                   
                   
         
	 
	 	 	 	 
	2.

	 	Assignee:
	 	              
                   
                   
                   
         
	 

	 	 	 	[and is an Affiliate/Approved Fund of [identify Lender]1]
	 
	 	 	 	 
	3.

	 	Borrower:
	 	Tyler Technologies, Inc., a Delaware corporation
	 
	 	 	 	 
	4.

	 	Agent:
	 	Bank of America, N.A., as the administrative agent under the Credit Agreement
	 
	 	 	 	 
	5.

	 	Credit Agreement:
	 	Credit Agreement dated as of August 11, 2010 among Borrower, the Guarantors party thereto, the
Lenders parties thereto and Bank of America, N.A., as Administrative Agent
	 
	 	 	 	 
	6.

	 	Assigned Interest:	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Amount of	 	 	 	 	 	 	 
	 	 	Commitment/Loans	 	 	Amount of	 	 	 	 
	 	 	for all	 	 	Commitment/Loans	 	 	Percentage Assigned of	 
	Facility Assigned2	 	Lenders*	 	 	Assigned*	 	 	Commitment/Loans3	 
	 
	 	$	 	 	 	$	 	 	 	 	%	 
	 
	 	$	 	 	 	$	 	 	 	 	%	 
	 
	 	$	 	 	 	$	 	 	 	 	%	 

 

			
	1	 	Select as applicable.
	 
	2	 	Fill in the appropriate terminology for the
types of facilities under the Credit Agreement that are being assigned under
this Assignment (e.g. “Revolving Commitment,” “Tranche B Term Loan Commitment,”
etc.)
	 
	*	 	Amount to be adjusted by the counterparties to
take into account any payments or prepayments made between the Trade Date and
the Effective Date.

[7. Trade Date:                     ]4

Effective Date:                     , 20 ___[TO BE INSERTED BY AGENT AND WHICH SHALL BE THE
EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

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

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

					
	 	

[Consented to and]5 Accepted:

BANK OF AMERICA, N.A. as

Agent

 	 
	 	By  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	[Consented to:]6

[BANK OF AMERICA, N.A., as L/C Issuer][and Swing Line Lender]

 	 
	 	By  	 	 
	 	 	Title: 	 
	 	 	 	 
	 
	 	[BORROWER]

 	 
	 	By  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

 

			
	3	 	Set forth, to at least 9 decimals, as a
percentage of the Commitment/Loans of all Lenders thereunder.
	 
	4	 	To be completed if the Assignor and the
Assignee intend that the minimum assignment amount is to be determined as of
the Trade Date.
	 
	5	 	To be added only if the consent of the
Administrative Agent is required by the terms of the Credit Agreement.
	 
	6	 	To be added only if the consent of the
Borrower and/or other parties (e.g. L/C Issuer) is required by the terms of the
Credit Agreement.

 

 

ANNEX 1

     STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

          1. Representations and Warranties.

          1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Loan Document.

          1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets the requirements to be an assignee under Section 11.06(b)(iii) and
(v) of the Credit Agreement (subject to such consents, if any, as may be required under Section
11.06(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date, it shall be bound
by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned
Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect
to decisions to acquire assets of the type represented by the Assigned Interest and either it, or
the Person exercising discretion in making its decision to acquire the Assigned Interest, is
experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement,
and has received or has been accorded the opportunity to receive copies of the most recent
financial statements delivered pursuant to Section 7.01 thereof, as applicable, and such other
documents and information as it deems appropriate to make its own credit analysis and decision to
enter into this Assignment and Assumption and to purchase the Assigned Interest, (vi) 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 credit analysis and
decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, and
(vii) if it is a Foreign Lender, attached hereto is any documentation required to be delivered by
it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and
(b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the
Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a
Lender.

          2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees
and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date.

          3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment

 

 

and Assumption may be executed in any number of counterparts, which together shall constitute one
instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this
Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York.

 

 

Exhibit 11.06(b)(iv)

FORM OF ADMINISTRATIVE QUESTIONNAIRE

(See attached.)exv4w1

Exhibit 4.1

 

Execution Copy

RANGE RESOURCES CORPORATION

As Issuer

AMERICAN ENERGY SYSTEMS, LLC

RANGE GATHERING & PROCESSING COMPANY, LLC

RANGE ENERGY SERVICES COMPANY, LLC

ENERGY ASSETS OPERATING COMPANY, LLC

OIL & GAS TITLE ABSTRACTING, LLC

RANGE OPERATING NEW MEXICO, LLC

RANGE PRODUCTION COMPANY

RANGE RESOURCES—APPALACHIA, LLC

RANGE RESOURCES—MIDCONTINENT, LLC

RANGE RESOURCES—PINE MOUNTAIN, INC.

RANGE TEXAS PRODUCTION, LLC

As Guarantors

SENIOR SUBORDINATED DEBT SECURITIES

 

INDENTURE

Dated as of August 12, 2010

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

As Trustee

 

 

 

 

CROSS -REFERENCE TABLE*

	 	 	 	 	 	 	 
	Trust Indenture	 	Indenture
	Act Section	 	Section
	310

	 	(a) (1)
	 	 	7.10	 
	 

	 	(a) (2)
	 	 	7.10	 
	 

	 	(a) (3)
	 	 	N.A.	 
	 

	 	(a) (4)
	 	 	N.A.	 
	 

	 	(a) (5)
	 	 	7.10	 
	 

	 	(b)
	 	 	7.10	 
	 

	 	(c)
	 	 	N.A.	 
	311

	 	(a)
	 	 	7.11	 
	 

	 	(b)
	 	 	7.11	 
	 

	 	(c)
	 	 	N.A.	 
	 

	 	(b)
	 	 	12.03	 
	 

	 	(c)
	 	 	12.03	 
	313

	 	(a)
	 	 	7.06	 
	 

	 	(b) (1)
	 	 	N.A.	 
	 

	 	(b) (2)
	 	 	7.07	 
	 

	 	(c)
	 	 	7.06, 12.02	 
	 

	 	(d)
	 	 	7.06	 
	314

	 	(a)
	 	 	4.03; 12.02	 
	 

	 	(b)
	 	 	N.A.	 
	 

	 	(c) (1)
	 	 	12.04	 
	 

	 	(c) (2)
	 	 	12.04	 
	 

	 	(c) (3)
	 	 	N.A.	 
	 

	 	(d)
	 	 	10.03 — 10.05	 
	 

	 	(e)
	 	 	12.05	 
	 

	 	(f)
	 	 	N.A.	 
	315

	 	(a)
	 	 	7.01	 
	 

	 	(b)
	 	 	7.05; 12.02	 
	 

	 	(c)
	 	 	7.01	 
	 

	 	(d)
	 	 	7.01	 
	 

	 	(e)
	 	 	6.11	 
	316

	 	(a)
	 	 	2.07	 
	 

	 	(a) (1) (A)
	 	 	6.05	 
	 

	 	(a) (1) (B)
	 	 	6.04	 
	 

	 	(a) (2)
	 	 	N.A.	 
	 

	 	(b)
	 	 	6.07	 
	 

	 	(c)
	 	 	12.02	 
	317

	 	(a) (1)
	 	 	6.08	 
	 

	 	(a) (2)
	 	 	6.09	 
	 

	 	(b)
	 	 	2.05	 
	318

	 	(a)
	 	 	12.01	 
	 

	 	(b)
	 	 	N.A.	 
	 

	 	(c)
	 	 	12.01	 

 

			
	 	 	N.A. means not applicable.
	 
	*	 	This Cross-Reference Table is not part of the Indenture.

 

 

TABLE OF CONTENTS

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1
Definitions And Incorporation By Reference

	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	1	 
	Section 1.02. Other Definitions
	 	 	17	 
	Section 1.03. Incorporation by Reference of Trust Indenture Act
	 	 	17	 
	Section 1.04. Rules of Construction
	 	 	18	 
	 
	 	 	 	 
	ARTICLE 2
The Securities

	 
	 	 	 	 
	Section 2.01. Forms Generally
	 	 	18	 
	Section 2.02. Form Of Trustee’s Certificate Of Authentication
	 	 	19	 
	Section 2.03. Amount Unlimited
	 	 	19	 
	Section 2.04. Execution and Authentication
	 	 	20	 
	Section 2.05. Registrar, Paying Agent and Authenticating Agent;
Paying Agent to Hold Money in Trust
	 	 	21	 
	Section 2.06. Replacement Securities
	 	 	21	 
	Section 2.07. Outstanding Securities
	 	 	21	 
	Section 2.08. Temporary Securities
	 	 	22	 
	Section 2.09. Cancellation
	 	 	22	 
	Section 2.10. CUSIP and CINS Numbers
	 	 	23	 
	Section 2.11. Registration, Transfer and Exchange
	 	 	23	 
	Section 2.12. Defaulted Interest
	 	 	25	 
	 
	 	 	 	 
	ARTICLE 3
Redemption And Prepayment

	 
	 	 	 	 
	Section 3.01. Notices to Trustee
	 	 	26	 
	Section 3.02. Selection of Securities to be Redeemed
	 	 	26	 
	Section 3.03. Notice of Redemption
	 	 	27	 
	Section 3.04. Effect of Notice of Redemption
	 	 	28	 
	Section 3.05. Deposit of Redemption Price
	 	 	28	 
	Section 3.06. Securities Redeemed in Part
	 	 	28	 
	Section 3.07. Optional Redemption
	 	 	28	 
	Section 3.08. Mandatory Redemption
	 	 	28	 
	Section 3.09. Offer to Purchase by Application of Excess Proceeds
	 	 	28	 
	 
	 	 	 	 
	ARTICLE 4
Covenants

	 
	 	 	 	 
	Section 4.01. Payment of Securities
	 	 	30	 
	Section 4.02. Maintenance of Office or Agency
	 	 	31	 

 

 

	 	 	 	 	 
	 	 	Page	 
	Section 4.03. Reports
	 	 	31	 
	Section 4.04. Compliance Certificate
	 	 	31	 
	Section 4.05. Taxes
	 	 	32	 
	Section 4.06. Stay, Extension and Usury Laws
	 	 	32	 
	Section 4.07. Restricted Payments
	 	 	33	 
	Section 4.08. Dividend and Other Payment Restrictions Affecting Subsidiaries
	 	 	35	 
	Section 4.09. Incurrence of Indebtedness and Issuance of Disqualified Stock
	 	 	36	 
	Section 4.10. Asset Sales
	 	 	38	 
	Section 4.11. Transactions with Affiliates
	 	 	39	 
	Section 4.12. Liens
	 	 	40	 
	Section 4.13. Offer to Repurchase Upon Change of Control
	 	 	40	 
	Section 4.14. Additional Subsidiary Guarantees
	 	 	41	 
	Section 4.15. Corporate Existence
	 	 	42	 
	Section 4.16. No Senior Subordinated Debt
	 	 	42	 
	Section 4.17. Business Activities
	 	 	42	 
	 
	 	 	 	 
	ARTICLE 5
Successors

	 
	 	 	 	 
	Section 5.01. Merger, Consolidation, or Sale of Substantially All Assets
	 	 	42	 
	Section 5.02. Successor Corporation Substituted
	 	 	43	 
	 
	 	 	 	 
	ARTICLE 6
Defaults And Remedies

	 
	 	 	 	 
	Section 6.01. Events of Default
	 	 	43	 
	Section 6.02. Acceleration
	 	 	45	 
	Section 6.03. Other Remedies
	 	 	46	 
	Section 6.04. Waiver of Past Defaults
	 	 	46	 
	Section 6.05. Control by Majority
	 	 	47	 
	Section 6.06. Limitation on Suits
	 	 	47	 
	Section 6.07. Rights of Holders of Securities to Receive Payment
	 	 	47	 
	Section 6.08. Collection Suit by Trustee
	 	 	48	 
	Section 6.09. Trustee May File Proofs of Claim
	 	 	48	 
	Section 6.10. Priorities
	 	 	48	 
	Section 6.11. Undertaking for Costs
	 	 	49	 
	 
	 	 	 	 
	ARTICLE 7
Trustee

	 
	 	 	 	 
	Section 7.01. Duties of Trustee
	 	 	49	 
	Section 7.02. Rights of Trustee
	 	 	50	 
	Section 7.03. Individual Rights of Trustee
	 	 	51	 
	Section 7.04. Trustee’s Disclaimer
	 	 	51	 
	Section 7.05. Notice of Defaults
	 	 	52	 
	Section 7.06. Reports by Trustee to Holders of the Securities
	 	 	52	 
	Section 7.07. Compensation and Indemnity
	 	 	52	 

ii 

 

	 	 	 	 	 
	 	 	Page	 
	Section 7.08. Replacement of Trustee
	 	 	53	 
	Section 7.09. Successor Trustee by Merger, etc
	 	 	54	 
	Section 7.10. Eligibility; Disqualification
	 	 	54	 
	Section 7.11. Preferential Collection of Claims Against Company
	 	 	54	 
	 
	 	 	 	 
	ARTICLE 8
Legal Defeasance And Covenant Defeasance

	 
	 	 	 	 
	Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	55	 
	Section 8.02. Legal Defeasance and Discharge
	 	 	55	 
	Section 8.03. Covenant Defeasance
	 	 	55	 
	Section 8.04. Conditions to Legal or Covenant Defeasance
	 	 	56	 
	Section 8.05. Deposited Money and Government Securities to be Held in Trust;
Other Miscellaneous Provisions
	 	 	57	 
	Section 8.06. Repayment to Company
	 	 	57	 
	Section 8.07. Reinstatement
	 	 	58	 
	Section 8.08. Satisfaction and Discharge
	 	 	58	 
	 
	 	 	 	 
	ARTICLE 9
Amendment, Supplement And Waiver

	 
	 	 	 	 
	Section 9.01. Without Consent of Holders of Securities
	 	 	59	 
	Section 9.02. With Consent of Holders of Securities
	 	 	60	 
	Section 9.03. Compliance with Trust Indenture Act
	 	 	61	 
	Section 9.04. Revocation and Effect of Consents
	 	 	61	 
	Section 9.05. Notation on or Exchange of Securities
	 	 	62	 
	Section 9.06. Trustee to Sign Amendment, etc
	 	 	62	 
	 
	 	 	 	 
	ARTICLE 10
Subordination

	 
	 	 	 	 
	Section 10.01. Agreement to Subordinate
	 	 	62	 
	Section 10.02. Certain Definitions
	 	 	62	 
	Section 10.03. Liquidation; Dissolution; Bankruptcy
	 	 	63	 
	Section 10.04. Default on Designated Senior Debt
	 	 	65	 
	Section 10.05. Acceleration of Securities
	 	 	66	 
	Section 10.06. When Distribution Must be Paid Over
	 	 	66	 
	Section 10.07. Notice by Company
	 	 	67	 
	Section 10.08. Subrogation
	 	 	67	 
	Section 10.09. Relative Rights
	 	 	67	 
	Section 10.10. Subordination May Not be Impaired by Company or the
Subsidiary Guarantors
	 	 	68	 
	Section 10.11. Payment, Distribution or Notice to Representative
	 	 	68	 
	Section 10.12. Rights of Trustee and Paying Agent
	 	 	68	 
	Section 10.13. Authorization to Effect Subordination
	 	 	68	 
	Section 10.14. Amendments
	 	 	69	 
	Section 10.15. No Waiver of Subordination Provisions
	 	 	69	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 11
The Guarantees

	 
	 	 	 	 
	Section 11.01. The Guarantees
	 	 	69	 
	Section 11.02. Execution and Delivery of Guarantees
	 	 	70	 
	Section 11.03. Subsidiary Guarantors May Consolidate, etc., on Certain Terms
	 	 	71	 
	Section 11.04. Releases of Guarantees
	 	 	72	 
	Section 11.05. Limitation on Subsidiary Guarantor Liability
	 	 	72	 
	Section 11.06. “Trustee” to Include Paying Agent
	 	 	73	 
	Section 11.07. Subordination of Guarantees
	 	 	73	 
	 
	 	 	 	 
	ARTICLE 12
Miscellaneous

	 
	 	 	 	 
	Section 12.01. Trust Indenture Act Controls
	 	 	73	 
	Section 12.02. Notices
	 	 	73	 
	Section 12.03. Communication by Holders of Securities with
Other Holders of Securities
	 	 	74	 
	Section 12.04. Certificate and Opinion as to Conditions Precedent
	 	 	75	 
	Section 12.05. Statements Required in Certificate or Opinion
	 	 	75	 
	Section 12.06. Rules by Trustee and Agents
	 	 	75	 
	Section 12.07. No Personal Liability of Directors, Officers,
Employees and Stockholders
	 	 	75	 
	Section 12.08. Governing Law
	 	 	76	 
	Section 12.09. No Adverse Interpretation of Other Agreements
	 	 	76	 
	Section 12.10. Successors
	 	 	76	 
	Section 12.11. Severability
	 	 	76	 
	Section 12.12. Counterpart Originals
	 	 	76	 
	Section 12.13. Table of Contents, Headings, etc
	 	 	76	 
	Section 12.14. Actions on Other than Business Days
	 	 	76	 
	 
	 	 	 	 
	EXHIBITS
	 	 	 	 
	 
	EXHIBIT A DTC Legend
	 	 	 	 
	EXHIBIT B Guarantee
	 	 	 	 

iv

 

     INDENTURE dated as of August 12, 2010 among Range Resources Corporation, a Delaware
corporation (the “Company”), as issuer, the Subsidiary Guarantors (as hereinafter defined) as
guarantors and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”).

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its unsecured debentures, notes or other evidences of
indebtedness (herein called the “Securities”), to be issued as provided in this Indenture.

     The Company, the Subsidiary Guarantors and the Trustee agree as follows for the benefit of
each other and for the equal and ratable benefit of the respective Holders from time to time of the
Securities:

ARTICLE 1

Definitions And Incorporation By Reference

     Section 1.01. Definitions.

     “Acquired Debt” means, with respect to any specified Person, (i) Indebtedness of any other
Person existing at the time such other Person is merged with or into or became a Subsidiary of such
specified Person, including, without limitation, Indebtedness incurred in connection with, or in
contemplation of, such other Person merging with or into or becoming a Subsidiary of such specified
Person, and (ii) Indebtedness secured by a Lien encumbering any asset acquired by such specified
Person.

     “Additional Securities” means any Securities issued under the Indenture in addition to the
Initial Securities in accordance with Section 2.03. Additional Securities will be treated as part
of the same series of Securities as the Initial Securities for all purposes under this Indenture.

     “Adjusted Consolidated Net Tangible Assets” means (without duplication), as of the date of
determination, (i) the sum of (a) discounted future net revenues from proved oil and gas reserves
of the Company and its Restricted Subsidiaries calculated in accordance with the Commission’s
guidelines before any state or federal income taxes, with no less than 80% of the discounted future
net revenues estimated by one or more nationally recognized firms of independent petroleum
engineers in a reserve report prepared as of the end of the Company’s most recently completed
fiscal year, as increased by, as of the date of determination, the estimated discounted future net
revenues from (1) estimated proved oil and gas reserves acquired since the date of such year-end
reserve report, and (2) estimated oil and gas reserves attributable to upward revisions of
estimates of proved oil and gas reserves since the date of such year-end reserve report due to
exploration, development or exploitation activities, in each case calculated in accordance with the
Commission’s guidelines (utilizing the prices utilized in such year-end reserve report) increased
by the accretion of the discount from the date of the reserve report to the date of determination,
and decreased by, as of the date of determination, the estimated discounted future net revenues
from (3) estimated proved oil and gas reserves produced or disposed of since the date of such
year-end reserve report and (4) estimated oil and gas reserves attributable to downward revisions
of estimates of proved oil and gas reserves since the date of

 

 

such year-end reserve report due to changes in geological conditions or other factors which
would, in accordance with standard industry practice, cause such revisions, in each case calculated
in accordance with the Commission’s guidelines (utilizing the prices utilized in such year-end
reserve report); provided, that, in the case of each of the determinations made pursuant to clause
(1) through (4), such increases and decreases shall be as estimated by the Company’s petroleum
engineers, unless in the event that there is a Material Change as a result of such acquisitions,
dispositions or revisions, then the discounted future net revenues utilized for purposes of this
clause (i) (a) shall be confirmed in writing by one or more nationally recognized firms of
independent petroleum engineers, (b) the capitalized costs that are attributable to oil and gas
properties of the Company and its Restricted Subsidiaries to which no proved oil and gas reserves
are attributable, based on the Company’s books and records as of a date no earlier than the date of
the Company’s latest annual or quarterly financial statements, (c) the Net Working Capital on a
date no earlier than the date of the Company’s latest annual or quarterly financial statements and
(d) the greater of (1) the net book value on a date no earlier than the date of the Company’s
latest annual or quarterly financial statements or (2) the book value of other tangible assets
(including, without duplication, investments in unconsolidated Restricted Subsidiaries and mineral
rights held under lease or other contractual arrangements) of the Company and its Restricted
Subsidiaries, as of the date no earlier than the date of the Company’s latest annual or quarterly
financial statements, minus (ii) the sum of (a) minority interests, (b) any gas balancing
liabilities of the Company and its Restricted Subsidiaries reflected in the Company’s latest
audited financial statements, and (c) the discounted future net revenues, calculated in accordance
with the Commission’s guidelines, attributable to reserves subject to Dollar-Denominated Production
Payments which, based on the estimates of production and price assumptions included in determining
the discounted future net revenues specified in clause (i)(a) above, would be necessary to fully
satisfy the payment obligations of the Company and its Restricted Subsidiaries with respect to
Dollar-Denominated Production Payments on the schedules specified with respect thereto. If the
Company changes its method of accounting from the successful efforts method to the full cost method
or a similar method of accounting, “Adjusted Consolidated Net Tangible Assets” will continue to be
calculated as if the Company was still using the successful efforts method of accounting.

     “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For
purposes of this definition, “control” (including, with correlative meanings, the terms
“controlling,” “controlled by” and “under common control with”), as used with respect to any
Person, shall mean the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise; provided, that beneficial ownership of 10% or more of the
voting securities of a Person shall be deemed to be control.

     “Agent” means any Registrar, Paying Agent or Authenticating Agent.

     “Agent Member” means a member of, or a participant in, the Depositary.

     “Asset Sale” means (i) the sale, lease, conveyance or other disposition (but excluding the
creation of or disposition pursuant to a Lien) of any assets including, without limitation, by way
of a sale and leaseback; provided, that the sale, lease, conveyance or other disposition of all or

2

 

substantially all of the assets of the Company and its Subsidiaries taken as a whole shall be
governed by Sections 4.13 and/or 5.01 hereof and not by Section 4.10 hereof, and (ii) the issuance
or sale by the Company or any of its Restricted Subsidiaries of Equity Interests of any of the
Company’s Subsidiaries (including the sale by the Company or a Restricted Subsidiary of Equity
Interests in an Unrestricted Subsidiary), in the case of either clause (i) or (ii), whether in a
single transaction or a series of related transactions (a) that have a fair market value in excess
of $5.0 million or (b) for net proceeds in excess of $5.0 million. Notwithstanding the foregoing,
the following shall not be deemed to be Asset Sales: (1) a transfer of assets by the Company to a
Wholly Owned Restricted Subsidiary of the Company or by a Wholly Owned Restricted Subsidiary of the
Company to the Company or to another Wholly Owned Restricted Subsidiary of the Company, (2) an
issuance of Equity Interests by a Wholly Owned Restricted Subsidiary of the Company to the Company
or to another Wholly Owned Restricted Subsidiary of the Company, (3) the making of a Permitted
Investment or a Restricted Payment that is permitted by Section 4.07, (4) the abandonment,
farm-out, lease or sublease of undeveloped oil and gas properties in the ordinary course of
business, (5) the trade or exchange by the Company or any Restricted Subsidiary of the Company of
any oil and gas property owned or held by the Company or such Restricted Subsidiary for any oil and
gas property owned or held by another Person, which the Board of Directors of the Company
determines in good faith to be of approximately equivalent value, (6) the trade or exchange by the
Company or any Subsidiary of the Company of any oil and gas property owned or held by the Company
or such Subsidiary for Equity Interests in another Person engaged primarily in the Oil and Gas
Business which, together with all other such trades or exchanges (to the extent excluded from the
definition of Asset Sale pursuant to this clause (6)) since the date of this Indenture, do not
exceed 5% of Adjusted Consolidated Net Tangible Assets determined after such trade or exchange, (7)
the sale or transfer of hydrocarbons or other mineral products or other inventory or surplus or
obsolete equipment in the ordinary course of business or (8) sales of assets or property (including
Capital Stock) described in clause (c)(iv) of Section 4.07.

     “Attributable Debt” in respect of a sale and leaseback transaction means, at the time of
determination, the present value (discounted at the rate of interest implicit in such transaction,
determined in accordance with GAAP) of the obligation of the lessee for net rental payments during
the remaining term of the lease included in such sale and leaseback transaction (including any
period for which such lease has been extended or may, at the option of the lessor, be extended).

     “Authenticating Agent” refers to a Person engaged to authenticate the Securities in the stead
of the Trustee.

     “Bankruptcy Code” means Title 11 of the United States Code, as amended.

     “Board of Directors” means the Board of Directors of the Company or a Subsidiary Guarantor, as
applicable, or any authorized committee of such Board of Directors.

     “Business Day” means any day other than a Legal Holiday.

3

 

     “Capital Lease Obligation” means, at the time any determination thereof is to be made, the
amount of the liability in respect of a capital lease that would at such time be required to be
capitalized on a balance sheet in accordance with GAAP.

     “Capital Stock” means (i) in the case of a corporation, corporate stock, (ii) in the case of
an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock, (iii) in the case of a partnership,
partnership interests (whether general or limited), (iv) in the case of a limited liability company
or similar entity, any membership or similar interests therein and (v) any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of,
or distributions of assets of, the issuing Person, in each case excluding debt securities
convertible or exchangeable for any of the foregoing.

     “Cash Equivalents” means (i) United States dollars, (ii) securities issued or directly and
fully guaranteed or insured by the United States government or any agency or instrumentality
thereof having maturities of not more than six months from the date of acquisition, (iii)
certificates of deposit and eurodollar time deposits with maturities of six months or less from the
date of acquisition, bankers’ acceptances with maturities not exceeding six months and overnight
bank deposits, in each case with any lender party to the Credit Agreement or with any domestic
commercial bank having capital and surplus in excess of $500 million and a Thompson Bank Watch
Rating of “B” or better, (iv) repurchase obligations with a term of not more than seven days for
underlying securities of the types described in clauses (ii) and (iii) above entered into with any
financial institution meeting the qualifications specified in clause (iii) above, (v) commercial
paper having a rating of at least P1 from Moody’s or a rating of at least Al from S&P, and (vi)
investments in money market or other mutual funds substantially all of whose assets comprise
securities of the types described in clauses (ii) through (v) above.

     “Certificated Security” means a Security in registered individual form without interest
coupons.

     “Change of Control” means the occurrence of any of the following: (i) the sale, lease,
transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or
a series of related transactions, of all or substantially all of the assets of the Company and its
Subsidiaries taken as a whole to any “person” or group of related “persons” (as such terms are used
in Section 13(d)(3) of the Exchange Act), (ii) the adoption of a plan relating to the liquidation
or dissolution of the Company, (iii) the consummation of any transaction (including, without
limitation, any purchase, sale, acquisition, disposition, merger or consolidation) the result of
which is that any “person” (as defined above) or group of related “persons” becomes the “beneficial
owner” (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act) of more than
40% of the aggregate voting power of all classes of Capital Stock of the Company having the right
to elect directors under ordinary circumstances or (iv) the first day on which a majority of the
members of the Board of Directors of the Company are not Continuing Directors.

     “Commission” means the Securities and Exchange Commission.

4

 

     “Consolidated Cash Flow” means, with respect to any Person for any period, the Consolidated
Net Income of such Person and its Restricted Subsidiaries for such period plus (i) an amount equal
to any extraordinary loss, plus any net loss realized in connection with an Asset Sale (together
with any related provision for taxes), to the extent such losses were included in computing such
Consolidated Net Income, plus (ii) provision for taxes based on income or profits of such Person
and its Restricted Subsidiaries for such period, to the extent that such provision for taxes was
included in computing such Consolidated Net Income, plus (iii) consolidated interest expense of
such Person and its Restricted Subsidiaries for such period, whether paid or accrued (including,
without limitation, amortization of original issue discount, non-cash interest payments, the
interest component of any deferred payment obligations, the interest component of all payments
associated with Capital Lease Obligations, imputed interest with respect to Attributable Debt,
commissions, discounts and other fees and charges incurred in respect of letters of credit or
bankers’ acceptance financings, and net payments (if any) pursuant to Interest Rate Hedging
Agreements), to the extent that any such expense was included in computing such Consolidated Net
Income, plus (iv) depreciation, depletion and amortization expenses (including amortization of
goodwill and other intangibles) for such Person and its Restricted Subsidiaries for such period to
the extent that such depreciation, depletion and amortization expenses were included in computing
such Consolidated Net Income, plus (v) exploration expenses for such Person and its Restricted
Subsidiaries for such period to the extent such exploration expenses were included in computing
such Consolidated Net Income, plus (vi) other non-cash charges (excluding any such non-cash charge
to the extent that it represents an accrual of or reserve for cash charges in any future period or
amortization of a prepaid cash expense that was paid in a prior period) of such Person and its
Restricted Subsidiaries for such period to the extent that such other non-cash charges were
included in computing such Consolidated Net Income, in each case, on a consolidated basis and
determined in accordance with GAAP. Notwithstanding the foregoing, the provision for taxes on the
income or profits of, and the depreciation, depletion and amortization and other non-cash charges
and expenses of, a Restricted Subsidiary of the referent Person shall be added to Consolidated Net
Income to compute Consolidated Cash Flow only to the extent (and in same proportion) that the Net
Income of such Restricted Subsidiary was included in calculating the Consolidated Net Income of
such Person and only if a corresponding amount would be permitted at the date of determination to
be dividended to the referent Person by such Restricted Subsidiary without prior governmental
approval (that has not been obtained), and without direct or indirect restriction pursuant to the
terms of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules
and governmental regulations applicable to that Restricted Subsidiary or its stockholders.

     “Consolidated Net Income” means, with respect to any Person for any period, the aggregate of
the Net Income of such Person and its Subsidiaries for such period, on a consolidated basis,
determined in accordance with GAAP; provided, that (i) the Net Income (but not loss) of any Person
that is not a Restricted Subsidiary or that is accounted for by the equity method of accounting
shall be included only to the extent of the amount of dividends or distributions paid in cash to
the referent Person or a Wholly Owned Restricted Subsidiary thereof, (ii) the Net Income of any
Restricted Subsidiary shall be excluded to the extent that the declaration or payment of dividends
or similar distributions by that Restricted Subsidiary of that Net Income is not at the date of
determination permitted without any prior governmental approval (that has not been obtained) or,
directly or indirectly, by operation of the terms of its

5

 

charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental
regulation applicable to that Restricted Subsidiary or its stockholders, (iii) the Net Income of
any Person acquired in a pooling of interests transaction for any period prior to the date of such
acquisition shall be excluded, (iv) the cumulative effect of a change in accounting principles
shall be excluded, (v) any impairments or write-downs of oil and natural gas assets shall be
excluded, provided, however, that ceiling limitation write-downs in accordance with GAAP shall be
treated as capitalized costs, as if such write-downs had not occurred, (vi) extraordinary non-cash
losses shall be excluded, (vii) any non-cash compensation expenses realized for grants of
performance shares, stock options or stock awards to officers, directors and employees of the
Company or any of its Restricted Subsidiaries shall be excluded and (viii) any unrealized non-cash
gains or losses or charges in respect of hedge or non-hedge derivatives (including those resulting
from the application of the Financial Accounting Standards Board’s Statement of Financial
Accounting Standards No. 133) shall be excluded.

     “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors of the Company who (i) was a member of such Board of Directors on the date of original
issuance of the Securities or (ii) was nominated for election or elected to such Board of Directors
with the approval of a majority of the Continuing Directors who were members of such Board at the
time of such nomination.

     “Corporate Trust Office of the Trustee” shall be at the address of the Trustee specified in
Section 12.02 hereof or such other address as to which the Trustee may give notice to the Company.

     “Credit Agreement” means that certain Third Amended and Restated Credit Agreement, dated as of
October 25, 2006, by and among the Company, certain Subsidiaries of the Company, JPMorgan Chase
Bank, N.A. (successor by merger to Bank One, N.A., (Illinois), a national banking association), The
Frost National Bank, The Bank of Nova Scotia, Union Bank of California, N.A. (f/k/a Union Bank of
California, N.A.), Wachovia Bank, National Association, Key Bank, BMO Capital Markets Financing,
Inc. (f/k/a Harris Nesbitt Financing, Inc.), Amegy Bank, N.A., Capital One, N.A. (f/k/a Hibernia
National Bank), Comerica Bank, Natixis, Fortis Capital Corp., Bank of America, N.A., Compass Bank,
Credit Agricole Corporate and Investment Bank (formerly known as Calyon New York Branch), Citibank,
N.A., Credit Suisse, Cayman Islands Branch, Suntrust Bank, Société Générale, U.S. Bank National
Association, Deutsche Bank Trust Company Americas, Sterling Bank, Barclays Bank PLC, Royal Bank of
Canada, Bank of Texas, N.A. and Bank of Scotland (hereinafter collectively referred to as
“Lenders”, and individually, “Lender”) and JPMorgan Chase Bank N.A. (formerly Bank One, NA), as
Administrative Agent, Bank of America, N.A., as Co-Documentation Agent, Fortis Capital Corp., as
Co-Documentation Agent, Credit Agricole Corporate and Investment Bank (formerly known as Calyon New
York Branch), as Co-Syndication Agent, BMO Capital Markets Financing, Inc., as Co-Syndication
Agent, J.P. Morgan Securities Inc. (formerly Banc One Capital Markets, Inc.), as Sole Lead Arranger
and Sole Bookrunner, as such credit agreement has been amended or supplemented to the date of the
Indenture, including any related notes, guarantees, collateral documents, instruments and
agreements executed in connection therewith, and in each case as amended, restated, modified,
renewed, refunded, replaced or refinanced, in whole or in part, from time to time, whether or not
with the same lenders or agents.

6

 

     “Credit Facilities” means, with respect to the Company, one or more debt facilities
(including, without limitation, the Credit Agreement) or commercial paper facilities with banks or
other institutional lenders providing for revolving credit loans, term loans, production payment
financing, receivables financing (including through the sale of receivables to such lenders or to
special purpose entities formed to borrow from such lenders against such receivables) or letters of
credit, in each case, as amended, restated, modified, renewed, refunded, replaced or refinanced in
whole or in part from time to time.

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

     “Depositary” means the depositary of each Global Security, which will initially be DTC.

     “Designated Senior Debt” means (i) the Credit Agreement and (ii) any other Senior Debt
permitted under this Indenture the principal amount of which is $25 million or more and that has
been designated by the Company as “Designated Senior Debt.”

     “Disqualified Stock” means any Capital Stock to the extent that, by its terms (or by the terms
of any security into which it is convertible or for which it is exchangeable), or upon the
happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation
or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior
to the date that is 91 days after the date on which the Securities mature.

     “Dollar-Denominated Production Payments” means production payment obligations recorded as
liabilities in accordance with GAAP, together with all undertakings and obligations in connection
therewith.

     “DTC” means The Depository Trust Company, a New York corporation, and its successors.

     “DTC Legend” means the legend set forth in Exhibit A.

     “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire
Capital Stock (but excluding any debt security that is convertible into, or exchangeable for,
Capital Stock).

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “Fixed Charge Coverage Ratio” means with respect to any Person for any period, the ratio of
the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for
such period. In the event that the Company or any of its Restricted Subsidiaries incurs, assumes,
guarantees or redeems any Indebtedness (other than revolving credit borrowings) or issues preferred
stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is
being calculated but prior to the date on which the calculation of the Fixed Charge Coverage Ratio
is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving
pro forma effect to such incurrence, assumption, guarantee or redemption of Indebtedness, or such
issuance or redemption of preferred stock, as if the same had occurred at the beginning of the
applicable four-quarter

7

 

reference period. In addition, for purposes of making the computation referred to above, (i)
acquisitions that have been made by the referent Person or any of its Restricted Subsidiaries,
including through mergers or consolidations and including any related financing transactions,
during the four-quarter reference period or subsequent to such reference period and on or prior to
the Calculation Date (including, without limitation, any acquisition to occur on the Calculation
Date) shall be deemed to have occurred on the first day of the four-quarter reference period and
Consolidated Cash Flow for such reference period shall be calculated without giving effect to
clause (iii) of the proviso set forth in the definition of Consolidated Net Income, (ii) the net
proceeds of Indebtedness incurred or Disqualified Stock issued by the referent Person pursuant to
the first paragraph of Section 4.09 hereof during the four-quarter reference period or subsequent
to such reference period and on or prior to the Calculation Date shall be deemed to have been
received by the referent Person or any of its Restricted Subsidiaries on the first day of the
four-quarter reference period and applied to its intended use on such date, (iii) the Consolidated
Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, and
operations or businesses disposed of prior to the Calculation Date, shall be excluded and (iv) the
Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, and
operations or businesses disposed of prior to the Calculation Date, shall be excluded, but only to
the extent that the obligations giving rise to such Fixed Charges shall not be obligations of the
referent Person or any of its Restricted Subsidiaries following the Calculation Date.

     “Fixed Charges” means, with respect to any Person for any period, the sum, without
duplication, of (i) the consolidated interest expense of such Person and its Restricted
Subsidiaries for such period, whether paid or accrued (including, without limitation, amortization
of original issue discount, non-cash interest payments, the interest component of any deferred
payment obligations, the interest component of all payments associated with Capital Lease
Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other
fees and charges incurred in respect of letter of credit or bankers’ acceptance financings, and net
payments (if any) pursuant to Interest Rate Hedging Agreements); (ii) the consolidated interest
expense of such Person and its Restricted Subsidiaries that was capitalized during such period;
(iii) any interest expense on Indebtedness of another Person that is guaranteed by such Person or
any of its Restricted Subsidiaries or secured by a Lien on assets of such Person or any of its
Restricted Subsidiaries (whether or not such guarantee or Lien is called upon) and (iv) the product
of (a) all cash dividend payments (and non-cash dividend payments in the case of a Person that is a
Restricted Subsidiary) on any series of preferred stock of such Person or any of its Restricted
Subsidiaries, times (b) a fraction, the numerator of which is one and the denominator of which is
one minus the then current combined federal, state and local statutory tax rate of such Person,
expressed as a decimal, in each case, on a consolidated basis and in accordance with GAAP.

     “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as have been approved by a significant segment of the
accounting profession, which are in effect on the date hereof.

     “Global Security” means a Security in registered global form without interest coupons.

8

 

     “Government Securities” means securities that are (a) direct obligations of the United States
of America for the timely payment of which its full faith and credit is pledged or (b) obligations
of a Person controlled or supervised by and acting as an agency or instrumentality of the United
States of America the timely payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States of America, which, in either case, are not callable or
redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued
by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any
such Government Security or a specific payment of principal of or interest on any such Government
Security held by such custodian for the account of the holder of such depositary receipt; provided,
that (except as required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depositary receipt from any amount received by the custodian
in respect of the Government Security or the specific payment of principal of or interest on the
Government Security evidenced by such depositary receipt.

     “guarantee” means a guarantee (other than by endorsement of negotiable instruments for
collection in the ordinary course of business), direct or indirect, in any manner (including,
without limitation, letters of credit and reimbursement agreements in respect thereof), of all or
any part of any Indebtedness.

     “Guarantee” means each of the Guarantees of the Securities by the Subsidiary Guarantors
hereunder.

     “Holder” means a Person in whose name a Security is registered on the Registrar’s Register.

     “Indebtedness” means, with respect to any Person, without duplication, (a) any indebtedness of
such Person, whether or not contingent, (i) in respect of borrowed money, (ii) evidenced by bonds,
notes, debentures or similar instruments, (iii) evidenced by letters of credit (or reimbursement
agreements in respect thereof) or banker’s acceptances, (iv) representing Capital Lease
Obligations, (v) representing the balance deferred and unpaid of the purchase price of any
property, except any such balance that constitutes an accrued expense or trade payable, (vi)
representing any obligations in respect of Interest Rate Hedging Agreements or Oil and Gas Hedging
Contracts, and (vii) in respect of any Production Payment, (b) all indebtedness of others secured
by a Lien on any asset of such Person (whether or not such indebtedness is assumed by such Person),
(c) Attributable Debt of such Person, and (d) to the extent not otherwise included in the
foregoing, the guarantee by such Person of any indebtedness of any other Person; provided, that the
indebtedness described in clauses (a) (i), (ii), (iv) and (v) shall be included in this definition
of Indebtedness only if, and to the extent that, the indebtedness described in such clauses would
appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP.

     “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof and shall include the terms of the Securities established as
contemplated hereunder.

9

 

     “Initial Securities” means the Securities issued on the Issue Date and any Securities issued
in replacement thereof.

     “Interest Rate Hedging Agreements” means, with respect to any Person, the obligations of such
Person under (i) interest rate swap agreements, interest rate cap agreements and interest rate
collar agreements and (ii) other agreements or arrangements designed to protect such Person against
fluctuations in interest rates.

     “Investments” means, with respect to any Person, all investments by such Person in other
Persons (including Affiliates) in the form of direct or indirect loans (including guarantees of
Indebtedness or other obligations, but excluding trade credit and other ordinary course advances
customarily made in the oil and gas industry), advances or capital contributions (excluding
commission, travel and similar advances to officers and employees made in the ordinary course of
business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or
other securities, together with all items that are or would be classified as investments on a
balance sheet prepared in accordance with GAAP; provided, that the following shall not constitute
Investments: (i) an acquisition of assets, Equity Interests or other securities by the Company for
consideration consisting of common equity securities of the Company, (ii) Interest Rate Hedging
Agreements entered into in accordance with the limitations set forth in clause (h) of the
definition of “Permitted Indebtedness” set forth in Section 4.09 hereof, (iii) Oil and Gas Hedging
Contracts entered into in accordance with the limitations set forth in clause (i) of the definition
of “Permitted Indebtedness” set forth in Section 4.09 hereof and (iv) endorsements of negotiable
instruments and documents in the ordinary course of business. If the Company or any Restricted
Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct or
indirect Restricted Subsidiary of the Company such that, after giving effect to any such sale or
disposition, such Person is no longer a Subsidiary of the Company, the Company shall be deemed to
have made an Investment on the date of any such sale or disposition equal to the fair market value
of the Equity Interests of such Subsidiary not sold or disposed of.

     “Issue Date” means the first date that any Securities are issued under this Indenture.

     “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City
of New York, the City of Chicago, the City of Houston, Texas or at a place of payment are
authorized by law, regulation or executive order to remain closed. If a payment date is a Legal
Holiday at a place of payment, payment may be made at that place on the next succeeding day that is
not a Legal Holiday, and no interest shall accrue for the intervening period.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law (including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest
in and any filing of or agreement to give any financing statement under the Uniform Commercial Code
(or equivalent statutes) of any jurisdiction other than a precautionary financing statement with
respect to a lease not intended as a security agreement).

     “Material Change” means an increase or decrease (excluding changes that result solely from
changes in prices) of more than 20% during a fiscal quarter in the estimated discounted

10

 

future net cash flows from proved oil and gas reserves of the Company and its Restricted
Subsidiaries, calculated in accordance with clause (i) (a) of the definition of Adjusted
Consolidated Net Tangible Assets; provided, however, that the following will be excluded from the
calculation of Material Change; (i) any acquisitions during the quarter of oil and gas reserves
that have been estimated by one or more nationally recognized firms of independent petroleum
engineers and on which a report or reports exist and (ii) any disposition of properties existing at
the beginning of such quarter that have been disposed of as provided in Section 4.10 hereof.

     “Moody’s” means Moody’s Investors Service, Inc. and its successors.

     “Net Income” means, with respect to any Person, the net income (loss) of such Person,
determined in accordance with GAAP and before any reduction in respect of preferred stock
dividends, excluding, however, (i) any gain (but not loss), together with any related provision for
taxes on such gain (but not loss), realized in connection with (a) any Asset Sale (including,
without limitation, dispositions pursuant to sale and leaseback transactions) or (b) the
disposition of any securities by such Person or any of its Restricted Subsidiaries or the
extinguishment of any Indebtedness of such Person or any of its Restricted Subsidiaries and (ii)
any extraordinary or nonrecurring gain (but not loss), together with any related provision for
taxes on such extraordinary or nonrecurring gain (but not loss).

     “Net Proceeds” means the aggregate cash proceeds received by the Company or any of its
Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash
received upon the sale or other disposition of any non-cash consideration received in any Asset
Sale, but excluding cash amounts placed in escrow, until such amounts are released to the Company),
net of the direct costs relating to such Asset Sale (including, without limitation, legal,
accounting and investment banking fees and expenses, and sales commissions) and any relocation
expenses incurred as a result thereof, taxes paid or payable as a result thereof (after taking into
account any available tax credits or deductions and any tax sharing arrangements), amounts required
to be applied to the repayment of Indebtedness (other than Indebtedness under any Credit Facility)
secured by a Lien on the asset or assets that were the subject of such Asset Sale and any reserve
for adjustment in respect of the sale price of such asset or assets established in accordance with
GAAP and any reserve established for future liabilities.

     “Net Working Capital” means (i) all current assets of the Company and its Restricted
Subsidiaries, minus (ii) all current liabilities of the Company and its Restricted Subsidiaries,
except current liabilities included in Indebtedness, in each case as set forth in financial
statements of the Company prepared in accordance with GAAP (excluding any adjustments made pursuant
to the Financial Accounting Standards Board’s Statement of Financial Accounting Standards No. 133).

     “Non-Recourse Debt” means Indebtedness (i) as to which neither the Company nor any of its
Restricted Subsidiaries (a) provides any guarantee or credit support of any kind (including any
undertaking, guarantee, indemnity or agreement or instrument that would constitute Indebtedness) or
(b) is directly or indirectly liable (as a guarantor or otherwise); (ii) no default with respect to
which (including any rights that the holders thereof may have to take enforcement action against an
Unrestricted Subsidiary) would permit (upon notice, lapse of time or both) any holder of any other
Indebtedness of the Company or any of its Restricted Subsidiaries to declare

11

 

a default on such other Indebtedness or cause the payment thereof to be accelerated or payable
prior to its stated maturity; and (iii) the explicit terms of which provide that there is no
recourse against any of the assets of the Company or its Restricted Subsidiaries.

     “Obligations” means any principal, interest, penalties, fees, indemnifications,
reimbursements, damages and other liabilities payable under the documentation governing any
Indebtedness.

     “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary, the Assistant Secretary, any Vice-President
of such Person or any other individual designated in writing by such Person as an Officer.

     “Officers’ Certificate” means a certificate signed on behalf of the Company, by two Officers
of the Company, one of whom must be the principal executive officer, the principal financial
officer, the treasurer or the principal accounting officer of the Company, that meets the
requirements of Section 12.05 hereof.

     “Oil and Gas Business” means (i) the acquisition, exploration, development, operation and
disposition of interests in oil, gas and other hydrocarbon properties, (ii) the gathering,
marketing, distribution, treating, processing, storage, selling and transporting of any production
from such interests or properties, (iii) any business relating to exploration for or development,
production, treatment, processing, storage, transportation or marketing of oil, gas and other
minerals and products produced in association therewith and (iv) any activity that is ancillary to
or necessary or appropriate for the activities described in clauses (i) through (iii) of this
definition.

     “Oil and Gas Hedging Contracts” means any oil and gas purchase or hedging agreement, and other
agreement or arrangement, in each case, that is designed to provide protection against oil and gas
price fluctuations.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of Section 12.05 hereof. The counsel may be an employee of or
counsel to the Company, any Subsidiary Guarantor or the Trustee.

     “pari passu Indebtedness” means indebtedness which ranks pari passu in right of payment to the
Securities.

     “Paying Agent” refers to a Person engaged to perform the obligations of the Trustee in respect
of payments made or funds held hereunder in respect of the Securities.

     “Permitted Investments” means (a) any Investment in the Company or in a Wholly Owned
Restricted Subsidiary of the Company; (b) any Investment in Cash Equivalents or securities issued
or directly and fully guaranteed or insured by the United States government or any agency or
instrumentality thereof having maturities of not more than one year from the date of acquisition;
(c) any Investment by the Company or any Restricted Subsidiary of the Company in a Person if, as a
result of such Investment and any related transactions that at the time of such

12

 

Investment are contractually mandated to occur, (i) such Person becomes a Wholly Owned
Restricted Subsidiary of the Company or (ii) such Person is merged, consolidated or amalgamated
with or into, or transfers or conveys all or substantially all of its assets to, or is liquidated
into, the Company or a Wholly Owned Restricted Subsidiary of the Company; (d) any Investment made
as a result of the receipt of non-cash consideration from an Asset Sale that was made pursuant to
and in compliance with Section 4.10 hereof; (e) other Investments in any Person or Persons having
an aggregate fair market value (measured on the date each such Investment was made and without
giving effect to subsequent changes in value), when taken together with all other Investments made
pursuant to this clause (e) that are at the time outstanding not to exceed $10.0 million; (f) any
Investment acquired by the Company in exchange for Equity Interests in the Company (other than
Disqualified Stock); (g) shares of Capital Stock received in connection with any good faith
settlement of a bankruptcy proceeding involving a trade creditor; (h) entry into operating
agreements, joint ventures, partnership agreements, working interests, royalty interests, mineral
leases, processing agreements, farm-out agreements, contracts for the sale, transportation or
exchange of oil and natural gas, unitization agreements, pooling arrangements, area of mutual
interest agreements, production sharing agreements or other similar or customary agreements,
transactions, properties, interests or arrangements, and Investments and expenditures in connection
therewith or pursuant thereto, in each case made or entered into the ordinary course of the Oil and
Gas Business, excluding, however, Investments in corporations other than any Investment received
pursuant to the Asset Sale provision and (i) the acquisition of any Equity Interests pursuant to a
transaction of the type described in clause (6) of the exclusions from the definition of “Asset
Sale”.

     “Permitted Liens” means (i) Liens securing Indebtedness of a Subsidiary or Liens securing
Senior Debt, in each case, that is outstanding on the Issue Date and Liens securing Senior Debt
that is permitted by the terms of this Indenture to be incurred, (ii) Liens in favor of the
Company, (iii) Liens on property or assets existing at the time of acquisition thereof by the
Company or any Subsidiary of the Company and Liens on property or assets of a Subsidiary existing
at the time it became a Subsidiary, provided, that such Liens were in existence prior to the
contemplation of the acquisition and do not extend to any assets other than the acquired property,
(iv) Liens incurred or deposits made in the ordinary course of business in connection with workers’
compensation, unemployment insurance or other kinds of social security, or to secure the payment or
performance of tenders, statutory or regulatory obligations, surety or appeal bonds, performance
bonds or other obligations of a like nature incurred in the ordinary course of business (including
lessee or operator obligations under statutes, governmental regulations or instruments related to
the ownership, exploration and production of oil, gas and minerals on state or federal lands or
waters), (v) Liens existing on the date of this Indenture, (vi) Liens for taxes, assessments or
governmental charges or claims that are not yet delinquent or that are being contested in good
faith by appropriate proceedings promptly instituted and diligently concluded, provided, that any
reserve or other appropriate provision as shall be required in conformity with GAAP shall have been
made therefor, (vii) statutory liens of landlords, mechanics, suppliers, vendors, warehousemen,
carriers or other like Liens arising in the ordinary course of business, (viii) judgment Liens not
giving rise to an Event of Default so long as any appropriate legal proceeding that may have been
duly initiated for the review of such judgment shall not have been finally terminated or the period
within which such proceeding may be initiated shall not have expired, (ix) Liens on, or related to,
properties or assets to secure all or part of the costs incurred in the ordinary course of the Oil
and Gas Business for the exploration,

13

 

drilling, development or operation thereof, (x) Liens on pipelines or pipeline facilities that
arise under operation of law, (xi) Liens arising under operating agreements, joint venture
agreements, partnership agreements, oil and gas leases, farm-out agreements, division orders,
contracts for the sale, transportation or exchange of oil or natural gas, unitization and pooling
declarations and agreements, area of mutual interest agreements and other agreements that are
customary in the Oil and Gas Business, (xii) Liens reserved in oil and gas mineral leases for bonus
or rental payments and for compliance with the terms of such leases, (xiii) Liens securing the
Securities and (xiv) Liens not otherwise permitted by clauses (i) through (xiii) that are incurred
in the ordinary course of business of the Company or any Subsidiary of the Company with respect to
obligations that do not exceed $5.0 million at any one time outstanding.

     “Permitted Refinancing Debt” means any Indebtedness of the Company or any of its Restricted
Subsidiaries issued in exchange for, or the net proceeds of which are used to extend, refinance,
renew, replace, defease or refund other Indebtedness (other than Indebtedness incurred under a
Credit Facility) of the Company or any of its Restricted Subsidiaries; provided, that: (i) the
principal amount of such Permitted Refinancing Debt does not exceed the principal amount of the
Indebtedness so extended, refinanced, renewed, replaced, defeased or refunded (plus the amount of
reasonable expenses incurred in connection therewith); (ii) such Permitted Refinancing Debt has a
final maturity date on or later than the final maturity date of, and has a Weighted Average Life to
Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being
extended, refinanced, renewed, replaced, defeased or refunded; (iii) if the Indebtedness being
extended, refinanced, renewed, replaced, defeased or refunded is subordinated in right of payment
to the Securities, such Permitted Refinancing Debt has a final maturity date later than the final
maturity date of, and is subordinated in right of payment to, the Securities on terms at least as
favorable taken as a whole to the Holders of the Securities as those contained in the documentation
governing the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; and
(iv) such Indebtedness is incurred either by the Company or by the Restricted Subsidiary who is the
obligor on the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded.

     “Person” means any individual, corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust, unincorporated organization, government or any
agency or political subdivision thereof or any other entity.

     “Production Payments” means Dollar-Denominated Production Payments and Volumetric Production
Payments, collectively.

     “Registrar” means a Person engaged to maintain the Register.

     “Repurchase Offer” means an offer made by the Company to purchase all or any portion of a
Holder’s Securities pursuant to Section 4.10 or 4.13 hereof.

     “Responsible Officer” when used with respect to the Trustee, means the officer within the
Corporate Trust Department of the Trustee (or any successor group of the Trustee) having direct
responsibility for the administration of this Indenture.

     “Restricted Investment” means an Investment other than a Permitted Investment.

14

 

     “Restricted Subsidiary” means any direct or indirect Subsidiary of the Company that is
not an Unrestricted Subsidiary.

     “S&P” means Standard & Poor’s Ratings Group and its successors.

     “Securities Act” means the Securities Act of 1933, as amended.

     “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as
defined in Article I, Rule 1.02 of Regulations S-X, promulgated pursuant to the Exchange Act, as
such Regulation is in effect on the date hereof.

     “Subordinated Indebtedness” means any Indebtedness of the Company or any Restricted Subsidiary
(whether outstanding on the date of the issuance of the Securities or thereafter incurred) which is
subordinate or junior in right of payment to the Securities pursuant to a written agreement.

     “Subsidiary” means, with respect to any Person, (i) any corporation, association or other
business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly,
by such Person or one or more of the other Subsidiaries of that Person (or a combination thereof)
and (ii) any partnership (a) the sole general partner or the managing general partner of which is
such Person or a Subsidiary of such Person or (b) the only general partners of which are such
Person or of one or more Subsidiaries of such Person (or any combination thereof).

     “Subsidiary Guarantors” means initially the Restricted Subsidiaries of the Company who are
signatories to this Indenture as of the Issue Date and any other future Restricted Subsidiary of
the Company and in each case their respective successors and assigns; provided, that in no event
shall any Subsidiary acquired or created by the Company after the date of this Indenture that is
organized under the laws of a jurisdiction other than the United States or any State or other
subdivision thereof (a “non-U.S. Subsidiary”) be a Subsidiary Guarantor under this Indenture.

     “TIA” means the Trust Indenture Act of 1939, as amended, as in effect on the date on which
this Indenture is qualified under the TIA.

     “Total Assets” means, with respect to any Person, the total consolidated assets of such Person
and its Restricted Subsidiaries, as shown on the most recent balance sheet of such Person.

     “Trustee” means the party named as such in the preamble to this Indenture until a successor
replaces it in accordance with the applicable provisions of this Indenture and thereafter means the
successor serving hereunder.

     “Unrestricted Subsidiary” means (i) any Subsidiary of the Company which at the time of
determination shall be an Unrestricted Subsidiary (as designated by the Board of Directors of the
Company, as provided below) and (ii) any Subsidiary of an Unrestricted Subsidiary. The Board of
Directors of the Company may designate any Subsidiary of the Company (including any newly acquired
or newly formed Subsidiary or a Person becoming a Subsidiary through merger or consolidation or
Investment therein) to be an Unrestricted Subsidiary only if: (a) such

15

 

Subsidiary does not own any Capital Stock of, or own or hold any Lien on any property of, any
other Subsidiary of the Company which is not a Subsidiary of the Subsidiary to be so designated or
otherwise an Unrestricted Subsidiary; (b) all the Indebtedness of such Subsidiary shall at the date
of designation, and will at all times thereafter consist of, Non-Recourse Debt; (c) the Company
certifies that such designation was permitted by Section 4.07; (d) such Subsidiary, either alone or
in the aggregate with all other Unrestricted Subsidiaries, does not operate, directly or
indirectly, all or substantially all of the business of the Company and its Subsidiaries; (e) such
Subsidiary does not, directly or indirectly, own any Indebtedness of or Equity Interest in, and has
no Investments in, the Company or any Restricted Subsidiary; (f) such Subsidiary is a Person with
respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or
indirect obligation (1) to subscribe for additional Equity Interests or (2) to maintain or preserve
such Person’s financial condition or to cause such Person to achieve any specified levels of
operating results; and (g) on the date such Subsidiary is designated an Unrestricted Subsidiary,
such Subsidiary is not a party to any agreement, contract, arrangement or understanding with the
Company or any Restricted Subsidiary with terms substantially less favorable to the Company than
those that might have been obtained from Persons who are not Affiliates of the Company. Any such
designation by the Board of Directors of the Company shall be evidenced to the Trustee by filing
with the Trustee a resolution of the Board of Directors of the Company giving effect to such
designation and an Officer’s Certificate certifying that such designation complied with the
foregoing conditions. If, at any time, any Unrestricted Subsidiary would fail to meet the
foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an
Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary
shall be deemed to be incurred as of such date. The Board of Directors of the Company may designate
any Unrestricted Subsidiary to be a Restricted Subsidiary; provided, that (1) immediately after
giving effect to such designation, no Default or Event of Default shall have occurred and be
continuing or would occur as a consequence thereof and the Company could incur at least $1.00 of
additional Indebtedness (excluding Permitted Indebtedness) pursuant to Section 4.09 on a pro forma
basis taking into account such designation and (2) such Subsidiary executes a Guarantee pursuant to
Section 11.02 of this Indenture.

     “Volumetric Production Payments” means production payment obligations recorded as deferred
revenue in accordance with GAAP, together with all undertakings and obligations in connection
therewith.

     “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the
number of years obtained by dividing (i) the sum of the products obtained by multiplying (a) the
amount of each then remaining installment, sinking fund, serial maturity or other required payments
of principal, including payment at final maturity, in respect thereof, by (b) the number of years
(calculated to the nearest one-twelfth) that will elapse between such date and the making of such
payment, by (ii) the then outstanding principal amount of such Indebtedness.

     “Wholly Owned Restricted Subsidiary” means, with respect to any Person, a Restricted
Subsidiary of such Person, all of the outstanding Capital Stock or other ownership interests of
which (other than directors’ qualifying shares) are owned, directly or indirectly, by such Person
or by one or more Wholly Owned Restricted Subsidiaries of such Person.

16

 

     Section 1.02 . Other Definitions.

	 	 	 
	Term	 	Defined in Section
	“Affiliate Transaction”
	 	4.11
	“Asset Sale Offer”
	 	3.09
	“Bankruptcy Law”
	 	10.02
	“Change of Control Offer”
	 	4.13
	“Change of Control Payment”
	 	4.13
	“Change of Control Payment Date”
	 	4.13
	“Covenant Defeasance”
	 	8.03
	“Custodian”
	 	6.01
	“Event of Default”
	 	6.01
	“Excess Proceeds”
	 	4.10
	“incur”
	 	4.09
	“Legal Defeasance”
	 	8.02
	“Notice of Default”
	 	6.01
	“Offer Amount”
	 	3.09
	“Offer Period”
	 	3.09
	“Payment Blockage Notice”
	 	10.04
	“Payment Default”
	 	6.01
	“Permitted Indebtedness”
	 	4.09
	“Purchase Date”
	 	3.09
	“Register”
	 	2.11
	“Representative”
	 	10.02
	“Restricted Payments”
	 	4.07
	“Senior Debt”
	 	10.02

     Section 1.03 . Incorporation by Reference of Trust Indenture Act.

     Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture.

     The following TIA terms used in this Indenture have the following meanings:

     “indenture securities” means the Securities;

     “indenture to be qualified” means this Indenture;

     “indenture trustee” or “institutional trustee” means the Trustee;

     “obligor” with respect to the Securities means the Company and with respect to the Guarantees
means the Subsidiary Guarantors and any successor obligor upon the Securities and the Guarantees,
respectively.

     All other terms used in this indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by rule enacted by the Commission under the TIA have the meanings so
assigned to them.

17

 

     Section 1.04 . Rules of Construction.

     Unless the context otherwise requires:

     (1) a term has the meaning assigned to it;

     (2) an accounting term not otherwise defined has the meaning assigned to it in accordance with
GAAP;

     (3) “or” is not exclusive;

     (4) words in the singular include the plural, and in the plural include the singular;

     (5) provisions apply to successive events and transactions;

     (6) references to sections of or rules under the Securities Act shall be deemed to include
substitute, replacement of successor sections or rules adopted by the Commission from time to time;
and

     (7) References to Statements of Financial Accounting Standards of the Financial Accounting
Standards Board do not reflect the new nomenclature resulting from the Financial Accounting
Standard Board’s codification of such Statements in its Accounting Standards Codification 105,
Generally Accepted Accounting Principles, issued in June 2009, but are deemed to include the
codified statements under their current nomenclature.

ARTICLE 2

The Securities

     Section 2.01 . Forms Generally. The Securities shall be in substantially the form as shall
be established by or pursuant to a resolution of the Board of Directors or in one or more
indentures supplemental hereto, in each case as contemplated by Section 2.03, with such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by this
Indenture, and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any securities exchange
or as may, consistently herewith, be determined by the officers executing such Securities, as
evidenced by their execution of the Securities.

     The definitive Securities shall be printed, lithographed or engraved on steel-engraved borders
or may be produced in any other manner, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities.

18

 

     Section 2.02 . Form Of Trustee’s Certificate Of Authentication. The Trustee’s certificate of
authentication shall be substantially in the following form:

     This is one of the Securities referred to in the within-mentioned Indenture.

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON 

     TRUST COMPANY, N.A.,

     as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

     Section 2.03 . Amount Unlimited. The aggregate principal amount of Securities which may be
authenticated and delivered under this Indenture is unlimited.

     The Securities may be issued from time to time. Prior to the issuance of Securities, there
shall be established in or pursuant to (i) action taken pursuant to a resolution of the Board of
Directors and (subject to Section 2.04) set forth, or determined in the manner provided, in an
Officers’ Certificate (a “Board Resolution”), or (ii) one or more indentures supplemental hereto,
the definitive terms of the Securities to the extent they are not set forth in or vary from the
provisions of this Indenture, including the following:

     (1) the title of the Securities;

     (2) the purchase price, denomination and any limit upon the aggregate principal amount of the
Initial Securities and, if limited, Additional Securities, which may be authenticated and delivered
under this Indenture (except for Securities authenticated and delivered upon registration of
transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to this
Indenture);

     (3) the date or dates on which the principal of and premium, if any, on the Securities is
payable or the method of determination thereof;

     (4) the rate or rates at which the Securities shall bear interest, if any, or the method of
calculating such rate or rates of interest, the date or dates from which such interest shall accrue
or the method by which such date or dates shall be determined, the interest payment dates on which
any such interest shall be payable and the regular record dates, if any, for the interest payable
on any interest payment date;

     (5) the period or periods within which, the price or prices at which, the currency or
currencies (including currency unit or units) in which, and the other terms and conditions upon
which Securities may be redeemed, in whole or in part, at the option of the Company, if the Company
is to have that option;

     (6) if other than denominations of $1,000 and any integral multiple thereof, the denominations
in which Securities shall be issuable;

19

 

     (7) if other than the principal amount thereof, the portion of the principal amount of
Securities which shall be payable upon declaration of acceleration of the Maturity thereof pursuant
to Section 6.02 or the method by which such portion shall be determined;

     (8) any modifications of or additions to the Events of Default or the covenants of the Company
set forth herein;

     (9) the form of Security; and

     (10) any other terms of the Securities.

     All Securities shall be substantially identical except as may otherwise be provided (i) by a
Board Resolution, (ii) by action taken pursuant to a Board Resolution and (subject to Section 2.04)
set forth, or determined in the manner provided, in an Officers’ Certificate or (iii) in any such
indenture supplemental hereto. All Securities need not be issued at the same time and, unless
otherwise provided, Additional Securities may be issued, subject to any limitations herein;
provided, however, that any such issuance made under the same CUSIP number as the original issuance
will be made only if either such Additional Securities are issued with no more than de minimis
original issue discount or such issuance is a “qualified reopening” as such term is defined under
Treasury regulations section 1.1275-2(k)(3) promulgated under the Internal Revenue Code of 1986, as
amended.

     If any of the terms of the Securities of any series are established by action taken pursuant
to a Board Resolution, a copy of an appropriate record of such action shall be certified by the
Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the
delivery of the Officers’ Certificate setting forth, or providing the manner for determining, the
terms of the Securities, and an appropriate record of any action taken pursuant thereto in
connection with the issuance of any Securities of such series shall be delivered to the Trustee
prior to the authentication and delivery thereof.

     Section 2.04 . Execution and Authentication.

     (a) An Officer shall execute the Securities for the Company by facsimile or manual signature
in the name and on behalf of the Company. If an Officer whose signature is on a Security no longer
holds that office at the time the Security is authenticated, the Security will still be valid.

     (b) A Security will not be valid until the Trustee manually signs the certificate of
authentication on the Security, with the signature conclusive evidence that the Security has been
authenticated under the Indenture.

     (c) At any time and from time to time after the execution and delivery of the Indenture, the
Company may deliver Securities executed by the Company to the Trustee for authentication. The
Trustee will authenticate and deliver said Securities after receipt by the Trustee of an Officers’
Certificate specifying

     (1) the amount of Securities to be authenticated and the date on which the Securities
are to be authenticated,

20

 

     (2) whether the Securities are to be issued as one or more Global Securities or
Certificated Securities, and

     (3) other information the Company may determine to include or the Trustee may
reasonably request.

     Section 2.05 . Registrar, Paying Agent and Authenticating Agent; Paying Agent to Hold Money
in Trust.

     (a) The Company may appoint one or more Registrars and one or more Paying Agents, and the
Trustee may appoint an Authenticating Agent, in which case each reference in the Indenture to the
Trustee in respect of the obligations of the Trustee to be performed by that Agent will be deemed
to be references to the Agent. The Company may act as Registrar or (except for purposes of Article
8) Paying Agent. In each case the Company and the Trustee will enter into an appropriate agreement
with the Agent implementing the provisions of the Indenture relating to the obligations of the
Trustee to be performed by the Agent and the related rights. The Company initially appoints the
Trustee as Registrar and Paying Agent.

     (b) The Company will require each Paying Agent other than the Trustee to agree in writing that
the Paying Agent will hold in trust for the benefit of the Holders or the Trustee all money held by
the Paying Agent for the payment of principal, premium, if any, or of interest on the Securities
and will promptly notify the Trustee of any Default by the Company in making any such payment. The
Company at any time may require a Paying Agent to pay all money held by it to the Trustee and
account for any funds disbursed, and the Trustee may at any time during the continuance of any
payment Default, upon written request to a Paying Agent, require the Paying Agent to pay all money
held by it to the Trustee and to account for any funds disbursed. Upon doing so, the Paying Agent
will have no further liability for the money so paid over to the Trustee.

     Section 2.06 . Replacement Securities.

     If a mutilated Security is surrendered to the Trustee or if a Holder claims that its Security
has been lost, destroyed or wrongfully taken, the Company will issue and the Trustee will
authenticate a replacement Security of like tenor and principal amount and bearing a number not
contemporaneously outstanding. Every replacement Security is an additional Obligation of the
Company and entitled to the benefits of the Indenture. If required by the Trustee or the Company,
an indemnity must be furnished that is sufficient in the judgment of both the Trustee and the
Company to protect the Company and the Trustee from any loss they may suffer if a Security is
replaced. The Company may charge the Holder for the expenses of the Company and the Trustee in
replacing a Security. In case the mutilated, lost, destroyed or wrongfully taken Security has
become or is about to become due and payable, the Company in its discretion may pay the Security
instead of issuing a replacement Security.

     Section 2.07 . Outstanding Securities.

     (a) Securities outstanding at any time are all Securities that have been authenticated by the
Trustee except for

21

 

     (1) Securities cancelled by the Trustee or delivered to it for cancellation;

     (2) any Security which has been replaced pursuant to Section 2.06 unless and until the
Trustee and the Company receive proof satisfactory to them that the replaced Security is
held by a bona fide purchaser; and

     (3) on or after the maturity date or any redemption date or date for repurchase of the
Securities pursuant to an Asset Sale Offer or a Change of Control Offer, those Securities
payable or to be redeemed or repurchased on that date for which the Trustee (or Paying
Agent, other than the Company or an Affiliate of the Company) holds money sufficient to pay
all amounts then due.

     (b) A Security does not cease to be outstanding because the Company or one of its Affiliates
holds the Security, provided, that in determining whether the Holders of the requisite principal
amount of the outstanding Securities have given or taken any request, demand, authorization,
direction, notice, consent, waiver or other action hereunder, Securities owned by the Company or
any Affiliate of the Company will be disregarded and deemed not to be outstanding, (it being
understood that in determining whether the Trustee is protected in relying upon any such request,
demand, authorization, direction, notice, consent, waiver or other action, only Securities which
the Trustee actually knows to be so owned will be so disregarded). Securities so owned which have
been pledged in good faith may be regarded as outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that
the pledgee is not the Company or any Affiliate of the Company.

     Section 2.08 . Temporary Securities.

     Until definitive Securities are ready for delivery, the Company may prepare and the Trustee
will authenticate temporary Securities. Temporary Securities will be substantially in the form of
definitive Securities but may have insertions, substitutions, omissions and other variations
determined to be appropriate by the Company Officer executing the temporary Securities, as
evidenced by the execution of the temporary Securities. If temporary Securities are issued, the
Company will cause definitive Securities to be prepared without unreasonable delay. After the
preparation of definitive Securities, the temporary Securities will be exchangeable for definitive
Securities upon surrender of the temporary Securities at the office or agency of the Company
designated for the purpose pursuant to Section 4.02, without charge to the Holder. Upon surrender
for cancellation of any temporary Securities the Company will execute and the Trustee will
authenticate and deliver in exchange therefor a like principal amount of definitive Securities of
authorized denominations. Until so exchanged, the temporary Securities will be entitled to the
same benefits under the Indenture as definitive Securities.

     Section 2.09 . Cancellation.

     The Company at any time may deliver to the Trustee for cancellation any Securities previously
authenticated and delivered hereunder which the Company may have acquired in any manner
whatsoever, and may deliver to the Trustee for cancellation any Securities previously authenticated
hereunder which the Company has not issued and sold. Any Registrar or the Paying Agent will
forward to the Trustee any Securities surrendered to it for transfer,

22

 

exchange or payment. The Trustee will cancel all Securities surrendered for transfer,
exchange, payment or cancellation and dispose of them in accordance with its document retention
procedures or the written instructions of the Company. The Company may not issue new Securities to
replace Securities it has paid in full or delivered to the Trustee for cancellation.

     Section 2.10 . CUSIP and CINS Numbers.

     The Company in issuing the Securities may use “CUSIP” and “CINS” numbers, and the Trustee will
use CUSIP numbers or CINS numbers in notices of redemption or exchange or in offers to purchase as
a convenience to Holders, the notice to state that no representation is made as to the correctness
of such numbers either as printed on the Securities or as contained in any notice of redemption or
exchange. The Company will promptly notify the Trustee in writing of any change in the CUSIP or
CINS numbers.

     Section 2.11 Registration, Transfer and Exchange.

     (a) The Securities will be issued in registered form only, without coupons, and the Company
shall cause the Registrar to maintain a register (the “Register”) of the Securities, for
registering the record ownership of the Securities by the Holders and transfers and exchanges of
the Securities.

     (b) (1) Each Global Security will be registered in the name of the Depositary or its nominee
and, so long as DTC is serving as the Depositary thereof, will bear the DTC Legend set forth in
Exhibit A.

     (2) Each Global Security will be delivered to the Trustee as custodian for the
Depositary. Transfers of a Global Security (but not a beneficial interest therein) will be
limited to transfers thereof in whole, but not in part, to the Depositary, its successors or
their respective nominees, except (x) as set forth in Section 2.11(b)(4) and (y) transfers
of portions thereof in the form of Certificated Securities may be made upon request of an
Agent Member (for itself or on behalf of a beneficial owner) by written notice given to the
Trustee by or on behalf of the Depositary in accordance with customary procedures of the
Depositary and in compliance with this Section 2.11.

     (3) Agent Members will have no rights under the Indenture with respect to any Global
Security held on their behalf by the Depositary, and the Depositary shall be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and
Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing,
the Depositary or its nominee may grant proxies and otherwise authorize any Person
(including any Agent Member and any Person that holds a beneficial interest in a Global
Security through an Agent Member) to take any action which a Holder is entitled to take
under the Indenture or the Securities, and nothing herein will impair, as between the
Depositary and its Agent Members, the operation of customary practices governing the
exercise of the rights of a holder of any security.

     (4) If (x) the Depositary notifies the Company that it is unwilling or unable to
continue as Depositary for a Global Security and a successor depositary is not appointed by
the Company within 90 days of the notice or (y) an Event of Default has occurred and

23

 

is continuing and the Trustee has received a request from the Depositary, the Trustee
will promptly exchange each beneficial interest in the Global Security for one or more
Certificated Securities in authorized denominations having an equal aggregate principal
amount registered in the name of the owner of such beneficial interest, as identified to the
Trustee by the Depositary, and thereupon the Global Security will be deemed canceled. Each
Certificated Security will be registered in the name of the Holder thereof or its nominee.

     (c) A Holder may transfer a Security to another Person or exchange a Security for another
Security or Securities of any authorized denomination by presenting to the Trustee a written
request therefor stating the name of the proposed transferee or requesting such an exchange. The
Registrar will promptly register any transfer or exchange that meets the requirements of this
Section by noting the same in the Register maintained by the Registrar for the purpose; provided,
that

     (x) no transfer or exchange will be effective until it is registered in such Register
and

     (y) the Trustee will not be required (i) to issue, register the transfer of or exchange
any Security for a period of 15 days before a selection of Securities to be redeemed or
repurchased, (ii) to register the transfer of or exchange any Security so selected for
redemption or repurchase in whole or in part, except, in the case of a partial redemption or
repurchase, that portion of any Security not being redeemed or repurchased, or (iii) if a
redemption or a repurchase is to occur after a regular record date but on or before the
corresponding related interest payment date, to register the transfer of or exchange any
Security on or after the regular record date and before the date of redemption or
repurchase. Prior to the registration of any transfer, the Company, the Trustee and their
agents will treat the Person in whose name the Security is registered as the owner and
Holder thereof for all purposes (whether or not the Security is overdue), and will not be
affected by notice to the contrary.

     From time to time the Company will execute and the Trustee will authenticate additional
Securities as necessary in order to permit the registration of a transfer or exchange in accordance
with this Section.

     No service charge will be imposed in connection with any transfer or exchange of any Security,
but the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than a transfer tax or other similar
governmental charge payable upon exchange pursuant to subsection (b)(4)).

     (d) (1) Global Security to Global Security. If a beneficial interest in a Global Security is
transferred or exchanged for a beneficial interest in another Global Security, the Trustee will (x)
record a decrease in the principal amount of the Global Security being transferred or exchanged
equal to the principal amount of such transfer or exchange and (y) record a like increase in the
principal amount of the other Global Security. Any beneficial interest in one Global Security that
is transferred to a Person who takes delivery in the form of a beneficial interest in another
Global Security, or exchanged for a beneficial interest in another
Global Security, will, upon transfer or exchange, cease to be an owner of a beneficial
interest in such Global Security and become an owner of a beneficial interest in the other Global
Security and, accordingly, will thereafter be subject to all transfer and exchange restrictions, if
any, and other procedures applicable to beneficial interests in such other Global Security for as
long as it remains such an interest.

24

 

     (2) Global Security to Certificated Security. If a beneficial interest in a Global
Security is transferred or exchanged for a Certificated Security, the Trustee will (x)
record a decrease in the principal amount of such Global Security equal to the principal
amount of such transfer or exchange and (y) deliver one or more new Certificated Securities
in authorized denominations having an equal aggregate principal amount to the transferee (in
the case of a transfer) or the owner of such beneficial interest (in the case of an
exchange), registered in the name of such transferee or owner, as applicable.

     (3) Certificated Security to Global Security. If a Certificated Security is
transferred or exchanged for a beneficial interest in a Global Security, the Trustee will
(x) cancel such Certificated Security, (y) record an increase in the principal amount of
such Global Security equal to the principal amount of such transfer or exchange and (z) in
the event that such transfer or exchange involves less than the entire principal amount of
the canceled Certificated Security, deliver to the Holder thereof one or more new
Certificated Securities in authorized denominations having an aggregate principal amount
equal to the untransferred or unexchanged portion of the canceled Certificated Security,
registered in the name of the Holder thereof.

     (4) Certificated Security to Certificated Security. If a Certificated Security is
transferred or exchanged for another Certificated Security, the Trustee will (x) cancel the
Certificated Security being transferred or exchanged, (y) deliver one or more new
Certificated Securities in authorized denominations having an aggregate principal amount
equal to the principal amount of such transfer or exchange to the transferee (in the case of
a transfer) or the Holder of the canceled Certificated Security (in the case of an
exchange), registered in the name of such transferee or Holder, as applicable, and (z) if
such transfer or exchange involves less than the entire principal amount of the canceled
Certificated Security, deliver to the Holder thereof one or more Certificated Securities in
authorized denominations having an aggregate principal amount equal to the untransferred or
unexchanged portion of the canceled Certificated Security, registered in the name of the
Holder thereof.

     Section 2.12. Defaulted Interest.

     If the Company defaults in a payment of interest on the Securities, it shall pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest, to the Persons who are Holders on a subsequent special record date, in each case at the
rate provided in the Securities and in Section 4.01 hereof. The Company shall notify the Trustee in
writing of the amount of defaulted interest proposed to be paid on each Security and the date of
the proposed payment. The Company shall fix or cause to be fixed each such special record date and
payment date, provided, that no such special record date shall be less than 10 days prior to the
related payment date for such defaulted interest. At least 15 days before the

25

 

special record date, the Company (or, upon the written request of the Company, the Trustee in
the name and at the expense of the Company) shall mail or cause to be mailed to Holders a notice
that states the special record date, the related payment date and the amount of such interest to be
paid.

ARTICLE 3

Redemption And Prepayment

     Section 3.01. Notices to Trustee.

     The Securities may be redeemable at the option of the Company as provided in the terms of the
Securities. If the Company elects to redeem Securities pursuant to the optional redemption
provisions thereof, then it shall furnish to the Trustee, at least 45 days but not more than 60
days before a redemption date (or such shorter time as shall be agreed by the Trustee), an
Officers’ Certificate setting forth (i) the paragraph of the Securities pursuant to which the
redemption shall occur, (ii) the redemption date, (iii) the principal amount of Securities to be
redeemed and (iv) the redemption price.

     Section 3.02. Selection of Securities to be Redeemed.

     If less than all of the Securities are to be redeemed at any time, selection of Securities for
redemption shall be made by the Trustee in compliance with the requirements of the principal
national securities exchange, if any, on which the Securities are listed as the Trustee is advised
by the Company, or, if the Securities are not so listed, on a pro rata basis, by lot or by such
other method as the Trustee shall deem fair and appropriate (and in such manner as complies with
applicable legal requirements); provided, that no Securities of $1,000 or less shall be redeemed in
part. In the event of partial redemption by lot, the particular Securities to be redeemed shall be
selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to the
redemption date by the Trustee from the outstanding Securities not previously called for
redemption.

     The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption and, in the case of any Security selected for partial redemption, the principal amount
thereof to be redeemed. Securities and portions of Securities selected shall be in amounts of
$1,000 or whole multiples of $1,000; except that if all of the Securities of a Holder are to be
redeemed, the entire outstanding amount of Securities held by such Holder, even if not a multiple
of $1,000, shall be redeemed. A new Security in principal amount equal to the unredeemed portion
thereof shall be issued in the name of the Holder thereof upon cancellation of the original
Security. On and after the redemption date, unless the Company defaults in payment of the
redemption price, interest ceases to accrue on Securities or portions of them called for
redemption. Except as provided in this Section 3.02, provisions of this Indenture that apply to
Securities called for redemption also apply to portions of Securities called for redemption.

     The provisions of the two preceding paragraphs of this Section 3.02 shall not apply with
respect to any redemption affecting only a Global Security, whether such Global Security is to be

26

 

redeemed in whole or in part. In case of any such redemption in part, the unredeemed portion
of the principal amount of the Global Security shall be in an authorized denomination.

     Section 3.03. Notice of Redemption.

     Subject to the provisions of Section 3.09 hereof, at least 30 days but not more than 60 days
before a redemption date, the Company shall mail or cause to be mailed, by first class mail, a
notice of redemption to each Holder of Securities to be redeemed at such Holder’s registered
address, provided, however, that the Company shall provide notice to the Trustee pursuant to
Section 3.01 hereof at least three days (or such shorter period as shall be satisfactory to the
Trustee) prior to the mailing of the notice pursuant to this Section 3.03.

     The notice shall identify the Securities to be redeemed and shall state:

     (a) the redemption date;

     (b) the redemption price;

     (c) if any Security is being redeemed in part, the portion of the principal amount of such
Security to be redeemed and that, after the redemption date upon surrender of such Security, a new
Securities or Securities in principal amount equal to the unredeemed portion shall be issued upon
cancellation of the original Security;

     (d) the name and address of the Paying Agent;

     (e) that Securities called for redemption must be surrendered to the Paying Agent to collect
the redemption price;

     (f) that, unless the Company defaults in making such redemption payment, interest on
Securities called for redemption cease to accrue on and after the redemption date;

     (g) the paragraph of the Securities and/or Section of this Indenture pursuant to which the
Securities called for redemption are being redeemed; and

     (h) that no representation is made as to the correctness or accuracy of the CUSIP number, if
any, listed in such notice or printed on the Securities.

     If any of the Securities to be redeemed is in the form of a Global Security, then such notice
shall be modified in form but not substance to the extent appropriate to accord with the procedures
of the Depositary applicable to redemptions.

     At the Company’s request and expense, the Trustee shall give the notice of redemption in the
Company’s name; provided, however, that the Company shall have delivered to the Trustee, at least
45 days (or such shorter period as shall be satisfactory to the Trustee) prior to the redemption
date, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the
information to be stated in such notice as provided in the second preceding paragraph.

27

 

     Section 3.04. Effect of Notice of Redemption.

     Once notice of redemption is mailed in accordance with Section 3.03 hereof, Securities called
for redemption become irrevocably due and payable on the redemption date at the redemption price. A
notice of redemption may not be conditional.

     Section 3.05. Deposit of Redemption Price.

     On or prior to the redemption date, the Company shall deposit with the Trustee or with the
Paying Agent money sufficient to pay the redemption price of and accrued interest on all Securities
to be redeemed on that date. The Trustee or the Paying Agent shall promptly return without interest
to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of
the amounts necessary to pay the redemption price of and accrued interest on all Securities to be
redeemed.

     If the Company complies with the provisions of the preceding paragraph, on and after the
redemption date, interest shall cease to accrue on the Securities or the portions of Securities
called for redemption. If a Security is redeemed on or after an interest record date but on or
prior to the related interest payment date, then any accrued and unpaid interest shall be paid to
the Person in whose name such Security was registered at the close of business on such record date.
If any Security called for redemption shall not be so paid upon surrender for redemption because of
the failure of the Company to comply with the preceding paragraph, interest shall be paid on the
unpaid principal, from the redemption date until such principal is paid, and to the extent lawful
on any interest not paid on such unpaid principal, in each case at the rate provided in the
Securities and in Section 4.01 hereof.

     Section 3.06. Securities Redeemed in Part.

     Upon surrender of a Security that is redeemed in part, the Company shall issue and, upon the
receipt of a written authentication order of the Company signed by an Officer of the Company, the
Trustee shall authenticate for the Holder at the expense of the Company a new Security equal in
principal amount to the unredeemed portion of the Security surrendered.

     Section 3.07. Optional Redemption.

     Any redemption contemplated by the terms of the Securities shall be made pursuant to the
provisions of Sections 3.01 through 3.06 hereof.

     Section 3.08. Mandatory Redemption.

     Except as set forth under Sections 4.10 and 4.13 hereof, the Company shall not be required to
make mandatory redemption or sinking fund payments with respect to the Securities.

     Section 3.09. Offer to Purchase by Application of Excess Proceeds.

     In the event that, pursuant to Section 4.10 hereof, the Company shall be required to commence
an offer to all Holders of Securities and, to the extent required by the terms thereof, to

28

 

all holders or lenders of other pari passu Indebtedness, to repurchase Securities and any such
pari passu Indebtedness (an “Asset Sale Offer”), it shall follow the procedures specified below.

     The Asset Sale Offer shall remain open for a period of 20 Business Days following its
commencement and no longer, except to the extent that a longer period is required by applicable law
(the “Offer Period”). No later than five Business Days after the termination of the Offer Period
(the “Purchase Date”), the Company shall purchase the principal amount of Securities required to be
purchased pursuant to Section 4.10 hereof, giving effect to any related offer for pari passu
Indebtedness pursuant to Section 4.10, (the “Offer Amount”) or, if less than the Offer Amount has
been tendered, all Securities tendered in response to the Asset Sale Offer. Payment for any
Securities so purchased shall be made in the same manner as interest payments are made.

     If the Purchase Date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest shall be paid to the Person in whose name a
Security is registered at the close of business on such record date, and no interest shall be
payable to Holders who tender Securities pursuant to the Asset Sale Offer.

     Upon the commencement of an Asset Sale Offer, the Company shall send, by first class mail, a
notice to the Trustee and each of the Holders. The notice shall contain all instructions and
materials necessary to enable such Holders to tender Securities pursuant to the Asset Sale Offer.
The Asset Sale Offer shall be made to all Holders. The notice, which shall govern the terms of the
Asset Sale Offer, shall state:

     (a) that the Asset Sale Offer is being made pursuant to this Section 3.09 and Section 4.10
hereof and the length of time the Asset Sale Offer shall remain open;

     (b) the Offer Amount, the purchase price and the Purchase Date;

     (c) that any Security not tendered or accepted for payment shall continue to accrue interest;

     (d) that, unless the Company defaults in making such payment, any Security accepted for
payment pursuant to the Asset Sale Offer shall cease to accrue interest after the Purchase Date;

     (e) that Holders electing to have a Security purchased pursuant to an Asset Sale Offer may
only elect to have all of such Security purchased and may not elect to have only a portion of such
Security purchased;

     (f) that Holders electing to have a Security purchased pursuant to any Asset Sale Offer shall
be required to surrender the Security, with the form entitled “Option of Holder to Elect Purchase”
on the reverse of the Security completed, or transfer by book-entry transfer, to the Company, the
Depositary, if appointed by the Company, or a Paying Agent at the address specified in the notice
at least three Business Days before the Purchase Date;

     (g) that Holders shall be entitled to withdraw their election if the Company, the Depositary
or the Paying Agent, as the case may be, receives, not later than the expiration of the Offer
Period, a telegram, telex, facsimile transmission or letter setting forth the name of the

29

 

Holder, the principal amount of the Security the Holder delivered for purchase and a statement
that such Holder is withdrawing his election to have such Security purchased;

     (h) that, if the aggregate principal amount of Securities surrendered by Holders exceeds the
Offer Amount, the Company shall select the Securities to be purchased on a pro rata basis (with
such adjustments as may be deemed appropriate by the Company so that only Securities in
denominations of $1,000, or integral multiples thereof, shall be purchased) in the manner provided
in Section 4.10; and

     (i) that Holders whose Securities were purchased only in part shall be issued new Securities
equal in principal amount to the unpurchased portion of the Securities surrendered (or transferred
by book-entry transfer).

     If any of the Securities subject to an Asset Sale Offer is in the form of a Global Security,
then such notice may be modified in form but not substance to the extent appropriate to accord with
the procedures of the Depositary applicable to repurchases.

     On or before the Purchase Date, the Company shall, to the extent lawful, accept for payment,
on a pro rata basis to the extent necessary, the Offer Amount of Securities or portions thereof
tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all
Securities tendered, and shall deliver to the Trustee an Officers’ Certificate stating that such
Securities or portions thereof were accepted for payment by the Company in accordance with the
terms of this Section 3.09. The Company, the Depositary or the Paying Agent, as the case may be,
shall promptly (but in any case not later than five days after the Purchase Date) mail or deliver
to each tendering Holder an amount equal to the purchase price of the Securities tendered by such
Holder and accepted by the Company for purchase, and the Company shall promptly issue a new
Security, and the Trustee, upon receipt of a written authentication order of the Company signed by
two Officers of the Company shall authenticate and mail or deliver such new Security to such
Holder, in a principal amount equal to any unpurchased portion of the Security surrendered. Any
Security not so accepted shall be promptly mailed or delivered by the Company to the Holder
thereof. The Company shall publicly announce the results of the Asset Sale Offer on the Purchase
Date.

     Other than as specifically provided in this Section 3.09, any purchase pursuant to this
Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof.

ARTICLE 4

Covenants

     Section 4.01. Payment of Securities.

     The Company shall pay or cause to be paid the principal of, premium, if any, and interest on
the Securities on the dates and in the manner provided in the Securities. Principal, premium, if
any, and interest shall be considered paid on the date due if the Paying Agent, if other than the
Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money

30

 

deposited by the Company in immediately available funds and designated for and sufficient to
pay all such amounts then due.

     The Company shall pay interest (including post-petition interest in any proceeding under the
Bankruptcy Code) on overdue principal at the rate equal to 1% per annum in excess of the then
applicable interest rate on the Securities to the extent lawful; it shall pay interest (including
post-petition interest in any proceeding under the Bankruptcy Code) on overdue installments of
interest (without regard to any applicable grace period) at the same rate to the extent lawful.

     Section 4.02. Maintenance of Office or Agency.

     The Company shall maintain an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee, Registrar or co-registrar) where principal, premium, if any, and interest
on the Securities will be paid and where Securities may be surrendered for registration of transfer
or for exchange and where notices and demands to or upon the Company in respect of the Securities
and this Indenture may be served. The Company shall give prompt written notice to the Trustee of
the location, and any change in the location, of such office or agency. If at any time the Company
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office of the Trustee.

     The Company may also from time to time designate one or more other offices or agencies where
the Securities may be presented or surrendered for any or all such purposes and may from time to
time rescind such designations; provided, however, that no such designation or rescission shall in
any manner relieve the Company of its obligation to maintain an office or agency for such purposes.
The Company shall give prompt written notice to the Trustee of any such designation or rescission
and of any change in the location of any such other office or agency.

     Section 4.03. Reports.

     Notwithstanding that the Company may not be required to remain subject to the reporting
requirements of Section 13 or 15(d) of the Exchange Act, to the extent permitted by the Exchange
Act, the Company shall file with the Commission and provide, within 15 days after such filing, the
Trustee and Holders and prospective Holders (upon request) with the annual reports and the
information, documents and other reports that are specified in Sections 13 and 15(d) of the
Exchange Act (but without exhibits in the case of the Holders and prospective Holders). In the
event that the Company is not permitted to file such reports, documents and information with the
Commission, the Company will provide substantially similar information to the Trustee, the Holders
and prospective Holders (upon request) as if the Company were subject to the reporting requirements
of Section 13 or 15(d) of the Exchange Act. The Company shall at all times comply with TIA § 314
(a).

     Section 4.04. Compliance Certificate.

     (a) The Company shall deliver to the Trustee, within 90 days after the end of each fiscal
year, an Officers’ Certificate stating that a review of the activities of the Company and its
Subsidiaries during the preceding fiscal year has been made under the supervision of the signing
Officers with a view to determining whether the Company has kept, observed, performed and

31

 

fulfilled its obligations under this Indenture, and further stating, as to each such Officer
signing such certificate, that to the best of his or her knowledge the Company has kept, observed,
performed and fulfilled each and every covenant contained in this Indenture and is not in default
in the performance or observance of any of the terms, provisions and conditions of this Indenture
(or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events
of Default of which he or she may have knowledge and what action the Company is taking or proposes
to take with respect thereto) and that to the best of his or her knowledge no event has occurred
and remains in existence by reason of which payments on account of the principal of, premium, if
any, or interest on the Securities is prohibited or if such event has occurred, a description of
the event and what action the Company is taking or proposes to take with respect thereto. As of the
date hereof, the Company’s fiscal year ends on December 31 of each calendar year. In the event the
Company changes its fiscal year, it shall promptly notify the Trustee in writing of such change.

     (b) So long as not contrary to the then current recommendations of the American Institute of
Certified Public Accountants, the fiscal year-end financial statements delivered pursuant to
Section 4.03(a) above shall be accompanied by a written statement of the Company’s independent
public accountants (who shall be a firm of established national reputation) that in making the
examination necessary for certification of such financial statements, nothing has come to their
attention that would lead them to believe that the Company has violated any provisions of Article 4
or Article 5 hereof or, if any such violation has occurred, specifying the nature and period of
existence thereof, it being understood that such accountants shall not be liable directly or
indirectly to any Person for any failure to obtain knowledge of any such violation.

     (c) The Company shall, so long as any of the Securities are outstanding, deliver to the
Trustee, within five Business Days of any Officer becoming aware of any Default or Event of
Default, an Officers’ Certificate specifying such Default or Event of Default and what action the
Company is taking or proposes to take with respect thereto.

     Section 4.05. Taxes.

     The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency
all material taxes, assessments, and governmental levies except such as are contested in good faith
and by appropriate proceedings or where the failure to effect such payment is not adverse in any
material respect to the Holders of the Securities.

     Section 4.06. Stay, Extension and Usury Laws

     Each of the Company and the Subsidiary Guarantors covenants (to the extent that it may
lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at
any time hereafter in force, that may affect the covenants or the performance of this Indenture;
and each of the Company and the Subsidiary Guarantors (to the extent that it may lawfully do so)
hereby expressly waives all benefit or advantage of any such law, and covenants that it shall not,
by resort to any such law, hinder, delay or impede the execution of any power herein granted to

32

 

the Trustee, but shall suffer and permit the execution of every such power as though no such
law has been enacted.

     Section 4.07. Restricted Payments.

     The Company shall not and shall not permit any of its Restricted Subsidiaries to, directly or
indirectly: (i) declare or pay any dividend or make any other payment or distribution on account
of the Company’s Equity Interests (including, without limitation, any payment to holders of the
Company’s Equity Interests in connection with any merger or consolidation involving the Company) or
to the direct or indirect holders of the Company’s Equity Interests in their capacity as such
(other than dividends or distributions payable in Equity Interests (other than Disqualified Stock)
of the Company); (ii) purchase, redeem or otherwise acquire or retire for value any Equity
Interests of the Company; (iii) make any principal payment on, or purchase, redeem, defease or
otherwise acquire or retire for value any Indebtedness that is subordinated to the Securities,
except at final maturity; or (iv) make any Restricted Investment (all such payments and other
actions set forth in clauses (i) through (iv) above being collectively referred to as “Restricted
Payments”), unless, at the time of and after giving effect to such Restricted Payment:

     (a) no Default or Event of Default shall have occurred and be continuing or would occur as a
consequence thereof; and

     (b) the Company would, at the time of such Restricted Payment and after giving pro forma
effect thereto as if such Restricted Payment had been made at the beginning of the applicable
four-quarter period, have been permitted to incur at least $1.00 of additional Indebtedness
pursuant to the Fixed Charge Coverage Ratio test set forth in the first paragraph of Section 4.09
hereof; and

     (c) such Restricted Payment, together with the aggregate of all other Restricted Payments made
by the Company and its Restricted Subsidiaries after the date of this Indenture (excluding
Restricted Payments permitted by clauses (2), (3), (5) and (6) of the next succeeding paragraph),
is less than the sum of (i) the dollar amount calculated as of the date of this Indenture under
Section 4.07(c) of that certain Indenture dated July 21, 2003 among the Company, the Subsidiary
Guarantors and The Bank of New York Mellon Trust Company, N.A., as successor trustee to Bank One,
National Association, plus (ii) 50% of the Consolidated Net Income of the Company for the period
(taken as one accounting period) from the beginning of the first fiscal quarter commencing prior to
the date of this Indenture to the end of the Company’s most recently ended fiscal quarter for which
internal financial statements are available at the time of such Restricted Payment (or, if such
Consolidated Net Income for such period is a deficit, less 100% of such deficit), plus (iii) 100%
of the aggregate net cash proceeds received by the Company from the issue and sale since the date
of this Indenture of Equity Interests in the Company or of debt securities of the Company that have
been converted into or exchanged for such Equity Interests (other than Equity Interests (or
convertible debt securities) sold to a Subsidiary of the Company and other than Disqualified Stock
or debt securities that have been converted into Disqualified Stock), plus (iv) 100% of the amount
of net cash proceeds received by the Company or a Restricted Subsidiary from the sale within 12
months of the related acquisition of any of the following that are acquired after the date of the
Indenture in exchange for Equity Interests of the Company (other than Disqualified Stock and other
than Capital Stock issued to a Subsidiary of

33

 

the Company): (A) any property or assets (other than Indebtedness and Capital Stock); (B) the
Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of
such Capital Stock by the Company or another Restricted Subsidiary; or (C) Capital Stock
constituting a minority interest in any Person that at such time is a Restricted Subsidiary, plus
(v) to the extent that any Restricted Investment that was made after the date of this Indenture is
sold for cash or otherwise liquidated or repaid for cash, the lesser of (A) the net proceeds of
such sale, liquidation or repayment and (B) the initial amount of such Restricted Investment.

     The foregoing provisions shall not prohibit (1) the payment of any dividend within 60 days
after the date of declaration thereof, if at said date of declaration such payment would have
complied with the provisions of this Indenture; (2) the redemption, repurchase, retirement or other
acquisition of any Equity Interests of the Company in exchange for, or out of the proceeds of, the
substantially concurrent sale (other than to a Subsidiary of the Company) of other Equity Interests
of the Company (other than any Disqualified Stock); provided, that the amount of any such net cash
proceeds that are utilized for any such redemption, repurchase, retirement or other acquisition
shall be excluded from clause (c) (iii) or (c)(iv) of the preceding paragraph; (3) the defeasance,
redemption or repurchase of Subordinated Indebtedness with the net cash proceeds from an incurrence
of Permitted Refinancing Debt or the substantially concurrent sale (other than to a Subsidiary of
the Company) of Equity Interests of the Company (other than Disqualified Stock); provided, that the
amount of any such net cash proceeds that are utilized for any such redemption, repurchase,
retirement or other acquisition shall be excluded from clause (c) (iii) or (c)(iv) of the preceding
paragraph; (4) the repurchase, redemption or other acquisition or retirement for value of any
Equity Interests of the Company or any Subsidiary of the Company held by any of the Company’s (or
any of its Subsidiaries’) employees pursuant to any equity subscription agreement or stock option
agreement in effect as of the date of this Indenture; provided, that the aggregate price paid for
all such repurchased, redeemed, acquired or retired Equity Interests shall not exceed $2.0 million
in any twelve-month period; and provided further, that no Default or Event of Default shall have
occurred and be continuing immediately after such transaction; (5) repurchases of Equity Interests
deemed to occur upon exercise of stock options if such Equity Interests represent a portion of the
exercise price of such options; and (6) cash payments made by the Company for the repurchase,
redemption or other acquisition or retirement of the Company’s
73/8% Senior Subordinated Notes due
2013, 63/8% Senior Subordinated Notes due 2015, 71/2% Senior Subordinated Notes due 2016, 71/2% Senior
Subordinated Notes due 2017, 71/4% Senior Subordinated Notes due 2018 or 8% Senior Subordinated Notes
due 2019.

     The amount of all Restricted Payments (other than cash) shall be the fair market value (as
determined in good faith by a resolution of the Board of Directors of the Company set forth in an
Officers’ Certificate delivered to the Trustee, which determination shall be conclusive evidence of
compliance with this provision) on the date of the Restricted Payment of the asset(s) proposed to
be transferred by the Company or the applicable Restricted Subsidiary, as the case may be, pursuant
to the Restricted Payment. Not later than five days after the date of making any Restricted
Payment, the Company shall deliver to the Trustee an Officers’ Certificate stating that such
Restricted Payment is permitted and setting forth the basis upon which the calculations required by
this Section 4.07 were computed.

34

 

     In computing Consolidated Net Income for purposes of this Section 4.07, (i) the Company shall
use audited financial statements for the portion of the relevant period for which audited financial
statements are available on the date of determination and unaudited financial statements and other
current financial data based on the books and records of the Company for the remaining portion of
such period and (ii) the Company shall be permitted to rely in good faith on the financial
statements and other financial data derived from the books and records of the Company that are
available on the date of determination. If the Company makes a Restricted Payment which, at the
time of the making of such Restricted Payment, would on the good faith determination of the Company
be permitted under the requirements of this Indenture, such Restricted Payment shall be deemed to
have been made in compliance with this Indenture notwithstanding any subsequent adjustments made in
good faith to the Company’s financial statements affecting Consolidated Net Income of the Company
for any period.

     The Board of Directors may designate any Restricted Subsidiary to be an Unrestricted
Subsidiary if such designation would not cause a Default. For purposes of making such
determination, all outstanding Investments by the Company and its Restricted Subsidiaries (except
to the extent repaid in cash) in the Subsidiary so designated shall be deemed to be a Restricted
Investment or, if applicable, a Permitted Investment at the time of such designation and must
comply with this Section 4.07. All such outstanding Investments shall be deemed to constitute
Investments in an amount equal to the greater of the fair market value or the book value of such
Investments at the time of such designation. Such designation shall only be permitted if such
Restricted Payment would be permitted at such time and if such Restricted Subsidiary otherwise
meets the definition of an Unrestricted Subsidiary.

     Section 4.08. Dividend and Other Payment Restrictions Affecting Subsidiaries.

     The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or
indirectly, create or otherwise cause or suffer to exist or become effective any consensual
encumbrance or restriction on the ability of any Restricted Subsidiary to (i) (x) pay dividends or
make any other distributions to the Company or any of its Restricted Subsidiaries (1) on its
Capital Stock or (2) with respect to any other interest or participation in, or measured by, its
profits, or (y) pay any indebtedness owed by it to the Company or any of its Restricted
Subsidiaries, (ii) make loans or advances to the Company or any of its Restricted Subsidiaries or
(iii) transfer any of its properties or assets to the Company or any of its Restricted
Subsidiaries, except for such encumbrances or restrictions existing under or by reason of (a) the
Credit Agreement and the indentures governing the Company’s
73/8% Senior Subordinated Notes due 2013,
63/8% Senior Subordinated Notes due 2015, 71/2% Senior Subordinated Notes due 2016, 71/2% Senior
Subordinated Notes due 2017, 71/4% Senior Subordinated Notes due 2018 and 8% Senior Subordinated
Notes due 2019, each as in effect as of the date of this Indenture, and any amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or
refinancings thereof or any other Credit Facility or indenture or other financing agreement or
instrument, provided, that such amendments, modifications, restatements, renewals, increases,
supplements, refundings, replacements, refinancings or other Credit Facilities or indentures or
other financing agreements or instruments are not materially more restrictive taken as a whole with
respect to such dividend and other payment restrictions than those contained in the Credit
Agreement and such indentures as in effect on the date of the Indenture, (b) this Indenture and the
Securities, (c) applicable law, (d) any instrument governing

35

 

Indebtedness or Capital Stock of a Person acquired by the Company or any of its Restricted
Subsidiaries as in effect at the time of such acquisition (except, in the case of Indebtedness, to
the extent such Indebtedness was incurred in connection with or in contemplation of such
acquisition), which encumbrance or restriction is not applicable to any Person, or the properties
or assets of any Person, other than the Person and its Subsidiaries, or the property or assets of
the Person and its Subsidiaries, so acquired, provided, that, in the case of Indebtedness, such
Indebtedness was permitted by the terms of this Indenture to be incurred, (e) by reason of
customary non-assignment provisions in leases and customary provisions in other agreements that
restrict assignment of such agreements or rights thereunder, entered into in the ordinary course of
business and consistent with past practices, (f) purchase money obligations for property acquired
in the ordinary course of business that impose restrictions of the nature described in clause (iii)
above on the property so acquired or (g) Permitted Refinancing Debt, provided, that the
restrictions contained in the agreements governing such Permitted Refinancing Debt are not
materially more restrictive, taken as a whole, than those contained in the agreements governing the
Indebtedness being refinanced.

     Section 4.09. Incurrence of Indebtedness and Issuance of Disqualified Stock.

     The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or
indirectly, create incur, issue, assume, guarantee or otherwise become directly or indirectly
liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness
(including Acquired Debt) and the Company shall not issue any Disqualified Stock and shall not
permit any of its Restricted Subsidiaries to issue any shares of preferred stock; provided,
however, that the Company may incur Indebtedness (including Acquired Debt) or issue shares of
Disqualified Stock if:

     (i) the Fixed Charge Coverage Ratio for the Company’s most recently ended four full
fiscal quarters for which internal financial statements are available immediately preceding
the date on which such additional Indebtedness is incurred or such Disqualified Stock is
issued would have been at least 2.5 to 1, determined on a pro forma basis as set forth in
the definition of Fixed Charge Coverage Ratio; and

     (ii) no Default or Event of Default shall have occurred and be continuing at the time
such additional Indebtedness is incurred or such Disqualified Stock is issued or would occur
as a consequence of the incurrence of the additional Indebtedness or the issuance of the
Disqualified Stock.

     Notwithstanding the foregoing, this Indenture shall not prohibit any of the following
(collectively, “Permitted Indebtedness”): (a) the Indebtedness evidenced by the Initial Securities;
(b) the Indebtedness evidenced by the Company’s 73/8% Senior Subordinated Notes due 2013, 63/8% Senior
Subordinated Notes due 2015, 71/2% Senior Subordinated Notes due 2016, 71/2% Senior Subordinated Notes
due 2017, 71/4% Senior Subordinated Notes due 2018 and 8% Senior Subordinated Notes due 2019; (c) the
incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness pursuant to Credit
Facilities, so long as the aggregate principal amount of all Indebtedness incurred pursuant to this
clause (c) and outstanding under all Credit Facilities does not, at any one time, exceed the
greater of (1) $900.0 million and (2) an amount equal to the sum of (x) $50 million plus (y) 30% of
Adjusted Consolidated Net Tangible Assets

36

 

determined after the incurrence of such Indebtedness (including the application of the
proceeds therefrom), (d) the guarantee by any Subsidiary Guarantor of any Indebtedness that is
permitted by this Indenture to be incurred by the Company; (e) all Indebtedness of the Company and
its Restricted Subsidiaries in existence as of the date of this Indenture; (f) intercompany
Indebtedness between or among the Company and any of its Wholly Owned Restricted Subsidiaries;
provided, however, that (1) if the Company is the obligor on such Indebtedness, such Indebtedness
is expressly subordinate to the payment in full of all Obligations with respect to the Securities
and (2) (A) any subsequent issuance or transfer of Equity Interests that results in any such
Indebtedness being held by a Person other than the Company or a Wholly Owned Restricted Subsidiary
and (B) any sale or other transfer of any such Indebtedness to a Person that is not either the
Company or a Wholly Owned Restricted Subsidiary shall be deemed, in each case, to constitute an
incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be;
(g) Indebtedness in connection with one or more standby letters of credit, guarantees, performance
bonds or other reimbursement obligations, in each case, issued in the ordinary course of business
and not in connection with the borrowing of money or the obtaining of advances or credit (other
than advances or credit on open account, includible in current liabilities, for goods and services
in the ordinary course of business and on terms and conditions which are customary in the Oil and
Gas Business, and other than the extension of credit represented by such letter of credit guarantee
or performance bond itself), not to exceed in the aggregate at any given time 5.0% of Total Assets;
(h) Indebtedness under Interest Rate Hedging Agreements entered into for the purpose of limiting
interest rate risks, provided, that the obligations under such agreements are related to payment
obligations on Indebtedness otherwise permitted by the terms of this covenant and that the
aggregate notional principal amount of such agreements does not exceed 105% of the principal amount
of the Indebtedness to which such agreements relate; (i) Indebtedness under Oil and Gas Hedging
Contracts, provided, that such contracts were entered into in the ordinary course of business for
the purpose of limiting risks that arise in the ordinary course of business of the Company and its
Restricted Subsidiaries; (j) the incurrence by the Company of Indebtedness not otherwise permitted
to be incurred pursuant to this paragraph, provided, that the aggregate principal amount (or
accreted value, as applicable) of all Indebtedness incurred pursuant to this clause (j), together
with all Permitted Refinancing Debt incurred pursuant to clause (k) of this paragraph in respect of
Indebtedness previously incurred pursuant to this clause (j), does not exceed $10.0 million at any
one time outstanding; (k) Permitted Refinancing Debt incurred in exchange for, or the net proceeds
of which are used to refinance, extend, renew, replace, defease or refund, Indebtedness that was
permitted by this Indenture to be incurred (including Indebtedness previously incurred pursuant to
this clause (k) and Indebtedness referred to in clause (e) above); (l) accounts payable or other
obligations of the Company or any Restricted Subsidiary to trade creditors created or assumed by
the Company or such Restricted Subsidiary in the ordinary course of business in connection with the
obtaining of goods or services; and (m) Indebtedness consisting of obligations in respect of
purchase price adjustments, guarantees or indemnities in connection with the acquisition or
disposition of assets.

     The Company shall not permit any of its Unrestricted Subsidiary to incur any Indebtedness
other than Non-Recourse Debt; provided, however, if any such Indebtedness ceases to be Non-Recourse
Debt, such event shall be deemed to constitute an incurrence of Indebtedness by the Company.

37

 

     For purposes of determining compliance with, and the outstanding principal amount of any
particular Indebtedness incurred pursuant to and in compliance with this Section 4.09: (A)
Indebtedness permitted by this covenant need not be permitted solely by reference to one provision
permitting such Indebtedness but may be permitted in part by one such provision and in part by one
or more other provisions of this covenant permitting such Indebtedness, (B) in the event that
Indebtedness meets the criteria of more than one of the types of Indebtedness permitted by this
covenant to be incurred, the Company, in its sole discretion, will classify such item of
Indebtedness on the date of incurrence (or later reclassify such Indebtedness from or after the
first date on which the Company or its Restricted Subsidiaries could have incurred such
Indebtedness under one or more other of such provisions) and only be required to include the amount
and type of such Indebtedness in one or more of such provisions as it determines; and (C) the
amount of any Indebtedness issued at a price that is less than the principal amount thereof will be
equal to the amount of the liability in respect thereof determined in accordance with GAAP.

     Section 4.10. Asset Sales.

     The Company shall not, and shall not permit any of its Restricted Subsidiaries to, engage in
an Asset Sale unless (i) the Company (or the Restricted Subsidiary, as the case may be) receives
consideration at the time of such Asset Sale at least equal to the fair market value (as determined
in good faith by a resolution of the Board of Directors of the Company set forth in an Officer’s
Certificate delivered to the Trustee, which determination shall be conclusive evidence of
compliance with this provision) of the assets or Equity Interests issued or sold or otherwise
disposed of and (ii) at least 85% of the consideration therefor received by the Company or such
Restricted Subsidiary in such Asset Sale, plus all other Asset Sales since the date of this
Indenture, on a cumulative basis, is in the form of cash or Cash Equivalents; provided, that the
amount of any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent
balance sheet), of the Company or any Restricted Subsidiary (other than contingent liabilities and
liabilities that are by their terms subordinated to the Securities or any guarantee thereof) that
are assumed by the transferee of any such assets pursuant to a customary novation agreement that
releases the Company or such Restricted Subsidiary from further liability shall be treated as cash
for the foregoing purposes.

     Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company may
apply such Net Proceeds, at its option: (a) to reduce Senior Debt, (b) to acquire controlling
interests in another Oil and Gas Business, (c) to make capital expenditures in respect of the
Company’s or its Restricted Subsidiaries’ Oil and Gas Business, (d) to purchase long-term assets
that are used or useful in such Oil and Gas Business or (e) to repurchase any Securities. Pending
the final application of any such Net Proceeds, the Company may temporarily reduce Senior Debt that
is revolving debt or otherwise invest such Net Proceeds in any manner that is not prohibited by
this Indenture. Any Net Proceeds from Asset Sales that are not applied as provided in the first
sentence of this paragraph shall (after the expiration of the periods specified in this paragraph)
be deemed to constitute “Excess Proceeds.”

     When the aggregate amount of Excess Proceeds exceeds $10.0 million, the Company shall make an
Asset Sale Offer to purchase the maximum principal amount of Securities and any other pari passu
Indebtedness to which the Asset Sale Offer applies that may be purchased out of

38

 

the Excess Proceeds, at an offer price in cash in an amount equal to, in the case of the
Securities, 100% of the principal amount thereof plus accrued and unpaid interest thereon to the
date of purchase or, in the case of any other pari passu Indebtedness, 100% of the principal amount
thereof (or with respect to discount pari passu Indebtedness, the accreted value thereof) on the
date of purchase, in each case, in accordance with the procedures set forth in Section 3.09 hereof
or the agreements governing pari passu Indebtedness, as applicable. To the extent that the
aggregate principal amount (or accreted value, as the case may be) of the Securities and pari passu
Indebtedness tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company
may use any remaining Excess Proceeds for general corporate purposes. If the sum of (i) the
aggregate principal amount of Securities surrendered by Holders thereof, and (ii) the aggregate
principal amount or accreted value, as the case may be, of other pari passu Indebtedness
surrendered by holders or lenders thereof, exceeds the amount of Excess Proceeds, the Trustee and
the trustee or other lender representatives for the pari passu Indebtedness shall select the
Securities and other pari passu Indebtedness to be purchased on a pro rata basis, based on the
aggregate principal amount (or accreted value, as applicable) thereof surrendered in such Asset
Sale Offer. Upon completion of such Asset Sale Offer, the Excess Proceeds shall be reset at zero.

     Section 4.11. Transactions with Affiliates.

     The Company shall not, and shall not permit any of its Restricted Subsidiaries to, make any
payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or
purchase any property or assets from, or enter into or make or amend any contract, agreement,
understanding, loan, advance or guarantee with, or for the benefit of, any of its Affiliates (each
of the foregoing, an “Affiliate Transaction”), unless (i) such Affiliate Transaction is on terms
that are no less favorable to the Company or the relevant Restricted Subsidiary than those that
would have been obtained in a comparable transaction by the Company or such Subsidiary with an
unrelated Person and (ii) the Company delivers to the Trustee (a) with respect to an Affiliate
Transaction or series of related Affiliate Transactions involving aggregate consideration in excess
of $1,000,000 but less than or equal to $10,000,000, an Officers’ Certificate to the Trustee
certifying that such Affiliate Transaction complies with clause (i) above, (b) with respect to any
Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration
in excess of $10,000,000 but less than or equal to $25,000,000, a resolution of the Board of
Directors set forth in an Officer’s Certificate certifying that such Affiliate Transaction or
series of related Affiliate Transactions complies with clause (i) above and that such Affiliate
Transaction or series of related Affiliate Transactions has been approved in good faith by a
majority of the members of the Board of Directors of the Company who are disinterested with respect
to such Affiliate Transaction or series of related Affiliate Transactions (which resolution shall
be conclusive evidence of compliance with this provision) and (c) with respect to any Affiliate
Transaction or series of related Affiliate Transactions involving aggregate consideration in excess
of $25,000,000, a resolution of the Board of Directors set forth in an Officers’ Certificate
certifying that such Affiliate Transaction or series of related Affiliate Transactions complies
with clause (i) above and that such Affiliate Transaction or series of related Affiliate
Transactions has been approved in good faith by a resolution adopted by a majority of the members
of the Board of Directors of the Company who are disinterested with respect to such Affiliate
Transaction or series of related Affiliate Transactions and an opinion as to the fairness to the
Company or such Subsidiary of such Affiliate Transaction or series of related Affiliate

39

 

Transactions from a financial point of view issued by an accounting, appraisal, engineering or
investment banking firm of national standing (which resolution and fairness opinion shall be
conclusive evidence of compliance with this provision); provided, however, that the foregoing shall
not apply to (l) transactions contemplated by any employment agreement or other compensation plan
or arrangement entered into by the Company or any of its Subsidiaries in the ordinary course of
business, (2) transactions between or among the Company and/or its Restricted Subsidiaries, (3)
Permitted Investments and Restricted Payments that are permitted by Section 4.07 hereof, (4) any
indemnification payment made to any director, officer or employee of the Company or any Subsidiary
pursuant to charter, bylaw, statutory or contractual provisions, and (5) transactions with entities
that are Affiliates of the Company or a Restricted Subsidiary only because of the ownership by the
Company or a Restricted Subsidiary of Equity Interests in such entity.

     Section 4.12. Liens.

     The Company shall not, and shall not permit any of its Restricted Subsidiaries to, create,
incur, assume or otherwise cause or suffer to exist or become effective any Lien securing
Indebtedness of any kind (other than Permitted Liens) upon any of its property or assets, now owned
or hereafter acquired, unless all payments under the Securities are secured by such Lien prior to,
or on an equal and ratable basis with, the Indebtedness so secured for so long as such Indebtedness
is secured by such Lien.

     Section 4.13. Offer to Repurchase Upon Change of Control.

     (a) Upon the occurrence of a Change of Control, each Holder of the Securities shall have the
right to require the Company to repurchase all or any part (equal to $1,000 or an integral multiple
thereof) of such Holder’s Securities pursuant to the offer described below (the “Change of Control
Offer”) at an offer price in cash equal to 101% of the aggregate principal amount of the Securities
plus accrued and unpaid interest if any, thereon to the date of purchase (the “Change of Control
Payment”). Within 30 days following any Change of Control, unless a notice of redemption has been
given with respect to the Securities, the Company shall mail a notice to each Holder stating: (1) a
description of the transaction or transactions that constitute the Change of Control; (2) that the
Change of Control Offer is being made pursuant to this Section 4.13 and that all Securities
tendered shall be accepted for payment; (3) the purchase price and the purchase date described
below (the “Change of Control Payment Date”); (4) that any Security not tendered shall continue to
accrue interest, if any; (5) that, unless the Company defaults in the payment of the Change of
Control Payment, all Securities accepted for payment pursuant to the Change of Control Offer shall
cease to accrue interest, if any, after the Change of Control Payment Date; (6) that Holders
electing to have any Securities purchased pursuant to a Change of Control Offer shall be required
to surrender the Securities, with the form entitled “Option of Holder to Elect Purchase” on the
reverse of the Securities completed, to the Paying Agent at the address specified in the notice
prior to the close of business on the third Business Day preceding the Change of Control Payment
Date; (7) that Holders shall be entitled to withdraw their election if the Paying Agent receives,
not later than the close of business on the second Business Day preceding the Change of Control
Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the
Holder, the principal amount of Securities delivered for purchase, and a statement that such Holder
is withdrawing his election to

40

 

have the Securities purchased; and (8) that Holders whose Securities are being purchased only
in part shall be issued new Securities equal in principal amount to the unpurchased portion of the
Securities surrendered, which unpurchased portion must be equal to $1,000 in principal amount or an
integral multiple thereof. The Company and each Subsidiary Guarantor shall comply with the
requirements of Rule l4e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws and regulations are applicable to such party in connection with
the repurchase of the Securities as a result of a Change of Control.

     (b) On a Business Day that is no earlier than 30 days nor later than 60 days from the date
that the Company mails or causes to be mailed notice of the Change of Control to the Holders (the
“Change of Control Payment Date”), the Company shall, to the extent lawful, (i) accept for payment
all Securities or portions thereof properly tendered pursuant to the Change of Control Offer, (ii)
deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all
the Securities or portions thereof so tendered and (iii) deliver or cause to be delivered to the
Trustee the Securities so accepted together with an Officers’ Certificate stating the aggregate
principal amount of such Securities or portions thereof being purchased by the Company. The Paying
Agent shall promptly mail to each Holder of the Securities so tendered the Change of Control
Payment for such Securities, and the Trustee shall promptly authenticate and mail (or cause to be
transferred by book entry) to each Holder a new Security equal in principal amount to any
unpurchased portion of the Securities surrendered, if any; provided, that each such new Security
shall be in a principal amount of $1,000 or an integral multiple thereof. The Company shall
publicly announce the results of the Change of Control Offer on or as soon as practicable after the
Change of Control Payment Date.

     The Change of Control provisions described above shall be applicable whether or not any other
provisions of this Indenture are applicable.

     The Company shall not be required to make a Change of Control Offer upon a Change of Control
if a third party makes the Change of Control Offer in the manner, at the times and otherwise in
compliance with the requirements set forth in this Section 4.13 and purchases all Securities (or
portions thereof) validly tendered and not withdrawn under such Change of Control Offer.

     Section 4.14. Additional Subsidiary Guarantees.

     In the event that the Company or any of its Restricted Subsidiaries shall acquire or create a
material Restricted Subsidiary after the date of this Indenture, such newly acquired or created
Restricted Subsidiary shall be deemed to make the guarantee set forth in Section 11.01 and the
Company shall cause such Subsidiary to evidence such guarantee in the manner set forth in Section
11.02; provided, that, in no event shall any non-U.S. Subsidiary of the Company be deemed to make
such guarantee or be required to execute a Guarantee in accordance with Section 11.02. For
purposes of the foregoing, a Restricted Subsidiary shall be deemed to be “material” if it would not
be a minor subsidiary within the meaning of Rule 3-10(h) of Regulation S-X under the Exchange Act.

41

 

     Section 4.15. Corporate Existence.

     Subject to Article 5 hereof, the Company and each of the Restricted Subsidiaries shall do or
cause to be done all things necessary to preserve and keep in full force and effect (i) its
corporate existence, and the corporate, partnership or other existence of each of the Subsidiaries,
in accordance with the respective organizational documents (as the same may be amended from time to
time) of the Company or any such Restricted Subsidiary and (ii) the rights (charter, partnership
agreement and statutory), licenses and franchises of the Company and the Restricted Subsidiaries;
provided, however, that the Company and the Restricted Subsidiaries shall not be required to
preserve any such right, license or franchise, or the corporate, partnership or other existence of
any of the Restricted Subsidiaries, if the Board of Directors of the relevant Person shall
determine that the preservation thereof is no longer desirable in the conduct of the business of
the Company and the Restricted Subsidiaries, taken as a whole, and that the loss thereof is not
adverse in any material respect to the Holders of the Securities.

     Section 4.16. No Senior Subordinated Debt.

     Notwithstanding the provisions of Section 4.09 hereof, (i) the Company shall not incur,
create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is
subordinate or junior in right of payment to any Senior Debt of the Company and senior in any
respect in right of payment to the Securities and (ii) the Subsidiary Guarantors shall not directly
or indirectly incur, create, issue, assume, guarantee or otherwise become liable for any
Indebtedness that is subordinate or junior in right of payment to Senior Debt of the Company and
senior in any respect in right of payment to the Guarantees; provided, however, that the foregoing
limitations shall not apply to distinctions between categories of Indebtedness that exist by reason
of any Liens arising or created in respect of some but not all such Indebtedness.

     Section 4.17. Business Activities.

     The Company shall not, and shall not permit any Restricted Subsidiary to, engage in any
material respect in any business other than the Oil and Gas Business.

ARTICLE 5

Successors

     Section 5.01. Merger, Consolidation, or Sale of Substantially All Assets.

     The Company shall not consolidate or merge with or into (whether or not the Company is the
surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or
substantially all of its properties or assets, in one or more related transactions, to another
Person, and the Company may not permit any of its Restricted Subsidiaries to enter into any such
transaction or series of transactions if such transaction or series of transactions would, in the
aggregate, result in a sale, assignment, transfer, lease, conveyance, or other disposition of all
or substantially all of the properties or assets of the Company to another Person, in either case
unless (i) the Company is the surviving corporation or the Person formed by or surviving any such
consolidation or merger (if other than the Company) or to which such sale, assignment,

42

 

transfer, lease, conveyance or other disposition shall have been made (the “Surviving Entity”)
is a corporation organized or existing under the laws of the United States, any state thereof or
the District of Columbia; (ii) the Surviving Entity (if the Company is not the continuing obligor
under this Indenture) assumes all the obligations of the Company under the Securities and this
Indenture pursuant to a supplemental indenture in a form reasonably satisfactory to the Trustee;
(iii) immediately before and after giving effect to such transaction or series of transactions no
Default or Event of Default exists; (iv) the Company or Surviving Entity (if the Company is not the
continuing obligor under this Indenture) will, at the time of such transaction or series of
transactions and after giving pro forma effect thereto as if such transaction or series of
transactions had occurred at the beginning of the applicable four-quarter period, be permitted to
incur at least $1.00 of additional Indebtedness pursuant to the test set forth in the first
paragraph of Section 4.09 hereof. Notwithstanding the foregoing clause (iv), any Restricted
Subsidiary may consolidate with, merge into or transfer all or part of its properties and assets to
the Company, and any Wholly Owned Restricted Subsidiary may consolidate with, merge into or
transfer all or part of its properties and assets to another Wholly Owned Restricted Subsidiary
without complying with such clause (iv).

     Section 5.02. Successor Corporation Substituted.

     Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the assets of the Company in accordance with
Section 5.01 hereof, the Surviving Entity shall succeed to, and be substituted for (so that from
and after the date of such consolidation, merger, sale, lease, conveyance or other disposition, the
provisions of this Indenture referring to the “Company” shall refer instead to the Surviving Entity
and not to the Company), and may exercise every right and power of the Company under this Indenture
with the same effect as if such successor Person had been named as the Company herein; provided,
however, that the predecessor Company shall not be relieved from the obligation to pay the
principal of and interest on the Securities except in the case of a sale of all of the Company’s
assets that meets the requirements of Section 5.01 hereof.

ARTICLE 6

Defaults And Remedies

     Section 6.01. Events of Default.

     An “Event of Default” occurs if:

     (1) the Company defaults in the payment of interest on the Securities when the same
becomes due and payable and the Default continues for a period of 30 days, whether or not
such payment is prohibited by the provisions of Article 10 hereof;

     (2) the Company defaults in the payment of the principal of or premium, if any, on the
Securities, whether or not such payment is prohibited by the provisions of Article 10
hereof;

43

 

     (3) the Company fails to observe or perform any covenant, condition or agreement on the
part of the Company to be observed or performed pursuant to Article 5 hereof;

     (4) the Company fails to observe or perform any covenant, condition or agreement on the
part of the Company to be observed or performed pursuant to Sections 4.03, 4.07, 4.08, 4.09,
4.10, 4.11, 4.12, 4.13, 4.14, 4.16 and 4.17 hereof and the Default continues for the period
and after the notice specified below;

     (5) the Company fails to comply with any of its other agreements or covenants in, or
provisions of, the Securities or this Indenture and the Default continues for the period and
after the notice specified below;

     (6) except as permitted herein, any Guarantee shall be held in any judicial proceeding
to be unenforceable or invalid or shall cease for any reason to be in full force and effect
or a Subsidiary Guarantor, or any Person acting on behalf of a Subsidiary Guarantor, shall
deny or disaffirm such Subsidiary Guarantor’s obligation under its Guarantee;

     (7) a default occurs under any mortgage, indenture or instrument under which there may
be issued or by which there may be secured or evidenced any Indebtedness for money borrowed
by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed
by the Company or any of its Restricted Subsidiaries), whether such Indebtedness or
guarantee now exists or shall be created hereafter, which default (a) is caused by a failure
to pay principal of or premium, if any, or interest on such Indebtedness prior to the
expiration of the grace period provided in such Indebtedness on the date of such default (a
“Payment Default”) or (b) results in the acceleration of such Indebtedness prior to its
express maturity and, in each case, the principal amount of any such Indebtedness, together
with the principal amount of any other such Indebtedness under which there is then existing
a Payment Default or the maturity of which has been so accelerated, aggregates $10 million
or more; provided, that if any such default is cured or waived or any such acceleration
rescinded, or such Indebtedness is repaid, within a period of 10 days from the continuation
of such default beyond the applicable grace period or the occurrence of such acceleration,
as the case may be, such Event of Default under this Indenture and any consequential
acceleration of the Securities shall be automatically rescinded;

     (8) a final non-appealable judgment or order or final non-appealable judgments or
orders are rendered against the Company or any Restricted Subsidiary that remain unpaid or
discharged for a period of 60 days and that require the payment of money, either
individually or in an aggregate amount, in excess of $10 million;

     (9) the Company or any Significant Subsidiary or any group of Subsidiaries that, taken
together, would constitute a Significant Subsidiary, pursuant to or within the meaning of
any Bankruptcy Law:

     (a) a commences a voluntary case or proceeding,

44

 

     (b) consents to the entry of an order for relief against it in an involuntary case
or proceeding,

     (c) consents to the appointment of a Custodian of it or for all or substantially
all of its property or

     (d) makes a general assignment for the benefit of its creditors;

     (10) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that:

     (a) is for relief against the Company or any Significant Subsidiary or any group of
Subsidiaries that, taken together, would constitute a Significant Subsidiary, in an
involuntary case or proceeding,

     (b) appoints a Custodian of the Company, any Significant Subsidiary or any group of
Subsidiaries that, taken together, would constitute a Significant Subsidiary, or for all
or substantially all of the property of the Company, any Significant Subsidiary or any
group of Subsidiaries that, taken together, would constitute a Significant Subsidiary,
or

     (c) orders the liquidation of the Company, any Significant Subsidiary or any group
of Subsidiaries that, taken together, would constitute a Significant Subsidiary,

     and in each case the order or decree remains unstayed and in effect for 60 consecutive days.

     The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official
under any Bankruptcy Law.

     A Default under clause (4) is not an Event of Default until the Trustee notifies the Company,
or the Holders of at least 25% in principal amount of the then outstanding Securities notify the
Company and the Trustee, of the Default and the Company does not cure the Default within 30
consecutive days after receipt of the notice. A Default under clause (5) is not an Event of Default
until the Trustee notifies the Company, or the Holders of at least 25% in principal amount of the
then outstanding Securities notify the Company and the Trustee, of the Default and the Company does
not cure the Default within 60 days after receipt of the notice. The notice must specify the
Default, demand that it be remedied and state that the notice is a “Notice of Default.”

     Section 6.02. Acceleration.

     If an Event of Default (other than an Event of Default specified in clauses (9) and (10) of
Section 6.01 hereof) relating to the Company or any Subsidiary Guarantor occurs and is continuing,
the Trustee by notice to the Company, or the Holders of at least 25% in principal amount of the
then outstanding Securities by written notice to the Company and the Trustee, may declare the
unpaid principal amount of and any accrued and unpaid interest on all the Securities to be due and
payable immediately. If payment of the Securities is accelerated because of an

45

 

Event of Default, the Company shall notify the holders of Designated Senior Debt of such
acceleration. Upon such declaration the principal and interest shall be due and payable
immediately; provided, however, that so long as any Designated Senior Debt or any commitment
therefor is outstanding, any such notice or declaration shall not become effective until the
earlier of (a) five Business Days after such notice is delivered to the representative for the
Designated Senior Debt or (b) the acceleration of any Designated Senior Debt and thereafter,
payments on the Securities pursuant to this Article 6 shall be made only to the extent permitted
pursuant to Article 10 herein. Notwithstanding the foregoing, if any Event of Default specified in
clause (9) or (10) of Section 6.01 hereof relating to the Company, any Significant Subsidiary or
any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary occurs,
such an amount shall ipso facto become and be immediately due and payable without any declaration
or other act or notice on the part of the Trustee or any Holder.

     After a declaration of acceleration under this Indenture, but before a judgment or decree for
payment of principal, premium, if any, and interest on the Securities due under this Article 6 has
been obtained by the Trustee, Holders of a majority in principal amount of the then outstanding
Securities by written notice to the Company and the Trustee may rescind an acceleration and its
consequences if (i) the Company or any Subsidiary Guarantor has paid or deposited with the Trustee
a sum sufficient to pay (a) all sums paid or advanced by the Trustee under this Indenture and the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel and (b) all overdue interest on the Securities, if any, (ii) the rescission would not
conflict with any judgment or decree of a court of competent jurisdiction and (iii) all existing
Events of Default (except nonpayment of principal, premium, if any, or interest that has become due
solely because of the acceleration) have been cured or waived.

     Section 6.03. Other Remedies.

     If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal, premium, if any, and interest on the Securities or to enforce
the performance of any provision of the Securities or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Securities or
does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of
a Security in exercising any right or remedy accruing upon an Event of Default shall not impair the
right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

     Section 6.04. Waiver of Past Defaults.

     Holders of not less than a majority in aggregate principal amount of the Securities then
outstanding by written notice to the Trustee may on behalf of the Holders of all of the Securities
waive an existing Default or Event of Default and its consequences hereunder, except a continuing
Default or Event of Default in the payment of principal of, premium or interest on the Securities
(including in connection with an offer to purchase) (provided, however, that the Holders of a
majority in aggregate principal amount of the then outstanding Securities may rescind an
acceleration and its consequences, including any related payment default that resulted from such
acceleration). Upon any such waiver, such Default shall cease to exist, and any Event

46

 

of Default arising therefrom shall be deemed to have been cured for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right
consequent thereon.

     Section 6.05. Control by Majority.

     Holders of a majority in principal amount of the then outstanding Securities may direct the
time, method and place of conducting any proceeding for exercising any remedy available to the
Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow
any direction that conflicts with law or this Indenture that the Trustee determines may be unduly
prejudicial to the rights of other Holders of Securities or that may involve the Trustee in
personal liability it being understood that (subject to Section 7.01) the Trustee shall have no
duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such
Holders.

     Section 6.06. Limitation on Suits.

     A Holder of a Security may pursue a remedy with respect to this Indenture or the Securities
only if:

     (a) the Holder of a Security gives to the Trustee written notice of a continuing Event of
Default;

     (b) the Holders of at least 25% in principal amount of the then outstanding Securities make a
written request to the Trustee to pursue the remedy;

     (c) such Holder of a Security or Holders of Securities offer and, if requested, provide to the
Trustee indemnity satisfactory to the Trustee against any loss, liability or expense;

     (d) the Trustee does not comply with the request within 60 days after receipt of the request
and the offer and, if requested, the provision of indemnity; and

     (e) during such 60-day period the Holders of a majority in principal amount of the then
outstanding Securities do not give the Trustee a direction inconsistent with the request.

A Holder of a Security may not use this Indenture to prejudice the rights of another Holder of a
Security or to obtain a preference or priority over another Holder of a Security.

     Section 6.07. Rights of Holders of Securities to Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any Holder of a Security
to receive payment of principal, premium, if any, and interest on the Security, on or after the
respective due dates expressed in the Security (including in connection with an offer to purchase),
or to bring suit for the enforcement of any such payment on or after such respective dates, shall
not be impaired or affected without the consent of such Holder.

47

 

     Section 6.08. Collection Suit by Trustee.

     If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the
Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Company or any Subsidiary Guarantor for the whole amount of principal of, premium, if
any, and interest remaining unpaid on the Securities and interest on overdue principal and, to the
extent lawful, interest and such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel.

     Section 6.09. Trustee May File Proofs of Claim.

     The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Securities allowed in any judicial proceedings relative to the
Company or any of the Subsidiary Guarantors (or any other obligor upon the Securities), its
creditors or its property and shall be entitled and empowered to collect, receive and distribute
any money or other property payable or deliverable on any such claims and any custodian in any such
judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and
in the event that the Trustee shall consent to the making of such payments directly to the Holders,
to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07 hereof. To the extent that the payment of any such compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any
reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all
distributions, dividends, money, securities and other properties that the Holders may be entitled
to receive in such proceeding whether in liquidation or under any plan of reorganization or
arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization,
arrangement, adjustment or composition affecting the Securities or the rights of any Holder, or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding
provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a
trustee in bankruptcy or similar official and may be a member of the creditors’ committee.

     Section 6.10. Priorities.

     If the Trustee collects any money pursuant to this Article, it shall, subject to the
provisions of Article 10, pay out the money in the following order:

     First: to the Trustee, its agents and attorneys for amounts due under Sections 6.08 and 7.07
hereof, including payment of all compensation, expense and liabilities incurred, and all advances
made, by the Trustee and the costs and expenses of collection;

48

 

     Second: to Holders of Securities for amounts due and unpaid on the Securities for principal,
premium, if any, and accrued interest, ratably, without preference or priority of any kind,
according to the amounts due and payable on the Securities for principal, premium, if any, and
accrued interest, as the case may be, respectively; and

     Third: to the Company or to such party as a court of competent jurisdiction shall direct.

     The Trustee may fix a record date and payment date for any payment to Holders of Securities
pursuant to this Section 6.10.

     Section 6.11. Undertaking for Costs.

     In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder of a Security pursuant to Section 6.07 hereof, or a suit by Holders of
more than 10% in principal amount of the then outstanding Securities.

ARTICLE 7

Trustee

     Section 7.01. Duties of Trustee.

     (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill in
its exercise, as a prudent man would exercise or use under the circumstances in the conduct of his
own affairs.

     (b) Except during the continuance of an Event of Default:

     (i) the duties of the Trustee shall be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and

     (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon any
notices, requests, statements, certificates or opinions furnished to the Trustee and
conforming to the requirements of this Indenture. However, the Trustee shall examine the
certificates and opinions to determine whether or not they conform to the requirements of
this Indenture.

     (c) The Trustee may not be relieved from liabilities for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

49

 

     (i) this paragraph does not limit the effect of paragraph (b) of this Section;

     (ii) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the
pertinent facts; and

     (iii) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05
hereof.

     (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b), and (c) of this Section.

     (e) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or incur any liability. The Trustee shall be under no obligation to exercise any of its rights and
powers under this Indenture at the request of any Holders, unless such Holder shall have furnished
to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.

     (f) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law.

     Section 7.02. Rights of Trustee.

     (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to
have been signed or presented by the proper Person. The Trustee need not investigate any fact or
matter stated in the document.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits
to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee
may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be
full and complete authorization and protection from liability in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon.

     (c) The Trustee may act through its attorneys and agents, may in all cases pay, subject to
reimbursement as provided in Section 7.07, such reasonable compensation as it deems proper to all
such attorneys and agents, and shall not be responsible for the misconduct or negligence of any
attorney or agent appointed with due care.

     (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture.

50

 

     (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Company or any Subsidiary Guarantor shall be sufficient if signed by an Officer
of the Company or such Subsidiary Guarantor.

     (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders unless such Holders shall
have furnished to the Trustee reasonable security or indemnity against the costs, expenses and
liabilities that might be incurred by it in compliance with such request or direction.

     (g) Except with respect to Sections 4.01 and 4.04 hereof, the Trustee shall have no duty to
inquire as to the performance of the Company’s covenants in Article 4 hereof. In addition, the
Trustee shall not be deemed to have knowledge of any Default or Event of Default except (i) any
Event of Default occurring pursuant to Sections 4.01, 4.04 and 6.01(1) or (2) hereof or (ii) any
Default or Event of Default of which a Responsible Officer of the Trustee shall have received
written notification or obtained actual knowledge. For the purposes of this clause (g) only,
“actual knowledge” shall mean the actual fact or statement of knowing, without any duty to make
investigation with regard thereto.

     (h) The Trustee shall not be required to give any bond or surety in respect of the performance
of its duties or the exercise of its powers hereunder.

     (i) the Trustee shall not be bound to ascertain or inquire as to the performance or observance
of any covenants, conditions, or agreements on the part of the Company, except as otherwise set
forth herein, but the Trustee may require of the Company full information and advice as to the
performance of the covenants, conditions and agreements contained herein and shall be entitled in
connection herewith to examine the books, records and premises of the Company.

     (j) The permissive rights of the Trustee to perform the acts enumerated in this Indenture
shall not be construed as a duty and the Trustee shall not be answerable for other than its
negligence or willful misconduct.

     Section 7.03. Individual Rights of Trustee.

     The Trustee in its commercial banking or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Company, the Subsidiary Guarantors or any Affiliate of
the Company with the same rights it would have if it were not Trustee. However, in the event that
the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply
to the Commission for permission to continue as trustee or resign. Any Agent may do the same with
like rights and duties. The Trustee is also subject to Sections Section 7.10 and Section 7.11
hereof.

     Section 7.04. Trustee’s Disclaimer.

     The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, the Securities, or the Guarantees, it shall not be accountable for the
Company’s use of the proceeds from the Securities or any money paid to the Company or upon the
Company’s direction under any provision of this Indenture, it shall not be responsible for the

51

 

use or application of any money received by any Paying Agent other than the Trustee, and it
shall not be responsible for any statement or recital herein or in any certificate delivered
pursuant hereto or any statement in the Securities or any other document in connection with the
sale of the Securities or pursuant to this Indenture other than its certificate of authentication.

     Section 7.05. Notice of Defaults.

     If a Default or Event of Default occurs and is continuing and if it is known to the Trustee in
the manner contemplated in Section 7.02(g), the Trustee shall mail to Holders of Securities a
notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a
Default or Event of Default in payment of principal of, premium, if any, or interest on, any
Security, the Trustee may withhold the notice if and so long as a committee of its Responsible
Officers in good faith determines that withholding the notice is in the interests of the Holders of
the Securities.

     Section 7.06. Reports by Trustee to Holders of the Securities.

     Within 60 days after each May 15 beginning with the May 15 following the date of this
Indenture, and for so long as Securities remain outstanding, the Trustee shall mail to the Holders
of the Securities a brief report dated as of such reporting date that complies with TIA § 313(a)
(but if no event described in TIA § 313(a) has occurred within the twelve months preceding the
reporting date, no report need be transmitted). The Trustee also shall comply with TIA § 313(b) (2)
and transmit by mail all reports as required by TIA § 313(c).

     A copy of each report at the time of its mailing to the Holders of Securities shall be mailed
to the Company and filed with the Commission and each stock exchange on which the Securities are
listed in accordance with TIA § 313(d). The Company shall promptly notify the Trustee in writing
when the Securities are listed on any stock exchange.

     Section 7.07. Compensation and Indemnity.

     The Company and the Subsidiary Guarantors shall pay to the Trustee from time to time
reasonable compensation for its acceptance of this Indenture and services hereunder, including,
without limitation, extraordinary services such as default administration. The Trustee’s
compensation shall not be limited by any law on compensation of a trustee of an express trust. The
Company and the Subsidiary Guarantors shall reimburse the Trustee promptly upon request for all
reasonable disbursements, advances and expenses incurred or made by it in addition to the
compensation for its services. Such expenses shall include the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel.

     The Company and the Subsidiary Guarantors shall indemnify the Trustee against any and all
losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance
or administration of its duties under this Indenture, including the costs and expenses of enforcing
this Indenture against the Company and the Subsidiary Guarantors (including this Section 7.07) and
investigating or defending itself against any claim (whether asserted by the Company, the
Subsidiary Guarantors or any Holder or any other Person) or liability in connection with the
exercise or performance of any of its powers or duties hereunder, except to the extent any such
loss, liability or expense may be attributable to its negligence or bad faith. The Trustee shall

52

 

notify the Company and the Subsidiary Guarantors promptly of any claim for which it may seek
indemnity. Failure by the Trustee to so notify the Company and the Subsidiary Guarantors shall not
relieve the Company and the Subsidiary Guarantors of their obligations hereunder. The Company and
the Subsidiary Guarantors shall defend the claim and the Trustee shall cooperate in the defense.
The Trustee may have separate counsel and the Company and the Subsidiary Guarantors shall pay the
reasonable fees and expenses of such counsel. The Company and the Subsidiary Guarantors need not
pay for any settlement made without their consent, which consent shall not be unreasonably
withheld.

     The obligations of the Company and the Subsidiary Guarantors under this Section 7.07 are joint
and several and shall survive the satisfaction and discharge of this Indenture.

     To secure the Company’s and the Subsidiary Guarantors’ payment obligations in this Section,
the Trustee shall have a Lien prior to the Securities on all money or property held or collected by
the Trustee, except that held in trust to pay principal and interest on particular Securities. Such
Lien shall survive the satisfaction and discharge of this Indenture.

     When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(9) or (10) hereof occurs, the expenses and the compensation for the services
(including the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law.

     The Trustee shall comply with the provisions of TIA § 313(b)(2) to the extent applicable.

     Section 7.08. Replacement of Trustee.

     A resignation or removal of the Trustee and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.

     The Trustee may resign in writing at any time and be discharged from the trust hereby created
by so notifying the Company. The Holders of Securities of a majority in principal amount of the
then outstanding Securities may remove the Trustee by so notifying the Trustee and the Company in
writing. The Company may remove the Trustee if:

     (a) the Trustee fails to comply with Section 7.10 hereof;

     (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

     (c) a Custodian or public officer takes charge of the Trustee or its property; or

     (d) the Trustee becomes incapable of acting.

     If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor
Trustee takes office, the Holders of a majority in principal amount of the then

53

 

outstanding Securities may appoint a successor Trustee to replace the successor Trustee
appointed by the Company.

     If a successor Trustee does not take office within 30 days after the retiring Trustee resigns
or is removed, the retiring Trustee, the Company, or the Holders of Securities of at least 10% in
principal amount of the then outstanding Securities may petition any court of competent
jurisdiction for the appointment of a successor Trustee.

     If the Trustee, after written request by any Holder of a Security who has been a Holder of a
Security for at least six months, fails to comply with Section 7.10, such Holder of a Security may
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of
a successor Trustee.

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of the Securities. The retiring Trustee shall promptly transfer all property held by it as
Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid
and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the
Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall
continue for the benefit of the retiring Trustee.

     Section 7.09. Successor Trustee by Merger, etc.

     If the Trustee consolidates, merges or converts into, or transfers all or substantially all of
its corporate trust business to, another corporation, the successor corporation without any further
act shall be the successor Trustee.

     Section 7.10. Eligibility; Disqualification.

     There shall at all times be a Trustee hereunder that is a corporation, bank or banking
association organized and doing business under the laws of the United States of America or of any
state thereof that is authorized under such laws to exercise corporate trustee power, that is
subject to supervision or examination by federal or state authorities and that has a combined
capital and surplus of at least $50 million as set forth in its most recent published annual report
of condition.

     This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b).

     Section 7.11. Preferential Collection of Claims Against Company.

     The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA §
311(b). A Trustee who has resigned or been moved shall be subject to TIA § 311(a) to the extent
indicated therein.

54

 

ARTICLE 8

Legal Defeasance And Covenant Defeasance

     Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance.

     The Company may, at the option of its Board of Directors evidenced by a resolution set forth
in an Officers’ Certificate, at any time, elect to have either Section 8.02 or 8.03 hereof be
applied to all outstanding Securities upon compliance with the conditions set forth below in this
Article 8.

     Section 8.02. Legal Defeasance and Discharge.

     Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section
8.02, the Company and the Subsidiary Guarantors shall, subject to the satisfaction of the
conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their
obligations with respect to all outstanding Securities and the Guarantees thereof on the date the
conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal
Defeasance means that the Company shall be deemed to have paid and discharged the entire
Indebtedness represented by the outstanding Securities, which shall thereafter be deemed to be
“outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture
referred to in (a) and (b) below, and to have satisfied all its other obligations under such
Securities and this Indenture (and the Trustee, on demand of and at the expense of the Company,
shall execute proper instruments acknowledging the same), except for the following provisions which
shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of
outstanding Securities to receive payments in respect of the principal, of, premium, if any, and
interest on such Securities when such payments are due from the trust fund described in Section
8.04 hereof, and as more fully set forth in such Section, (b) the Company’s obligations with
respect to such Securities under Article 2 and Section 4.02 hereof, (c) the rights, powers, trusts,
duties and immunities of the Trustee hereunder and the Company’s obligations in connection
therewith and (d) this Article 8. Subject to compliance with this Article 8, the Company may
exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under
Section 8.03 hereof.

     Section 8.03. Covenant Defeasance.

     Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section
8.03, the Company and the Subsidiary Guarantors shall, subject to the satisfaction of the
conditions set forth in Section 8.04 hereof, be released from their obligations under the covenants
contained in Sections 4.03, 4.05, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.16 and 4.17
hereof and in clause (iv) of Section 5.01 and the covenants contained in the Guarantees with
respect to the outstanding Securities on and after the date the conditions set forth below are
satisfied (hereinafter, “Covenant Defeasance”), and the Securities shall thereafter be deemed not
“outstanding” for the purposes of any compliance certificate, direction, waiver, consent or
declaration or act of Holders (and the consequences of any thereof) in connection with such
covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being
understood that such Securities shall not be deemed outstanding for accounting purposes). For this
purpose, Covenant Defeasance means that, with respect to the outstanding Securities, the

55

 

Company may omit to comply with and shall have no liability in respect of any term, condition
or limitation set forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference in any such covenant
to any other provision herein or in any other document and such omission to comply shall not
constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified
above, the remainder of this Indenture, such Securities and such Guarantees shall be unaffected
thereby. In addition, upon the Company’s exercise under Section 8.01 hereof of the option
applicable to this Section 8.03 hereof, subject to the satisfaction of the conditions set forth in
Section 8.04 hereof, Sections 6.01(3) (but only with respect to the Company’s failure to observe or
perform the covenants, conditions and agreements of the Company under clause (iv) of Section 5.01),
6.01(4), 6.01(6), 6.01(7) and 6.01(8) and 6.01(9) and (10) (but only with respect to Restricted
Subsidiaries) hereof shall not constitute Events of Default.

     Section 8.04. Conditions to Legal or Covenant Defeasance.

     The following shall be the conditions to the application of either Section 8.02 or 8.03 hereof
to the outstanding Securities:

     In order to exercise either Legal Defeasance or Covenant Defeasance:

     (a) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the
Holders of the Securities, cash in United States dollars, non-callable Government Securities, or a
combination thereof, in such amounts as will be sufficient, in the opinion of a nationally
recognized firm of independent public accountants, to pay the principal of, premium, if any, and
interest, on the outstanding Securities on the stated maturity or on the applicable redemption
date, as the case may be, and the Company must specify whether the Securities are being defeased to
maturity or to a particular redemption date;

     (b) in the case of an election under Section 8.02 hereof, the Company shall have delivered to
the Trustee an Opinion of Counsel in the United States reasonably acceptable to the Trustee
confirming that (A) the Company has received from, or there has been published by, the Internal
Revenue Service a ruling or (B) since the date of this Indenture, there has been a change in the
applicable federal income tax law, in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the Holders of the outstanding Securities will not recognize
income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will
be subject to federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Legal Defeasance had not occurred;

     (c) in the case of an election under Section 8.03 hereof, the Company shall have delivered to
the Trustee an Opinion of Counsel in the United States reasonably acceptable to the Trustee
confirming that the Holders of the outstanding Securities will not recognize income, gain or loss
for federal income tax purposes as a result of such Covenant Defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would have been
the case if such Covenant Defeasance had not occurred;

     (d) no Default or Event of Default shall have occurred and be continuing on the date of such
deposit (other than a Default or Event of Default resulting from the borrowing of funds to

56

 

be applied to such deposit) or insofar as Section 6.01(9) or 6.01(10) hereof is concerned, at
any time in the period ending on the 91st day after the date of deposit;

     (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of,
or constitute a default under, any material agreement or instrument (other than this Indenture) to
which the Company or any of its Subsidiaries is a party or by which the Company or any of its
Subsidiaries is bound;

     (f) the Company shall deliver to the Trustee an Officers’ Certificate stating that the deposit
was not made by the Company with the intent of preferring the Holders of the Securities over the
other creditors of the Company, or with the intent of defeating, hindering, delaying or defrauding
creditors of the Company or others; and

     (g) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent provided for or relating to the Legal
Defeasance or the Covenant Defeasance have been complied with.

     Section 8.05. Deposited Money and Government Securities to be Held in Trust; Other
Miscellaneous Provisions.

     Subject to Section 8.06 hereof, all money and non-callable Government Securities (including
the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for
purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 or 8.08 hereof in respect of
the outstanding Securities shall be held in trust and applied by the Trustee, in accordance with
the provisions of such Securities and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to
the Holders of such Securities of all sums due and to become due thereon in respect of principal,
premium, if any, and interest, but such money need not be segregated from other funds except to the
extent required by law.

     The Company and the Subsidiary Guarantors shall pay and indemnify the Trustee against any tax,
fee or other charge imposed on or assessed against the cash or non-callable Government Securities
deposited pursuant to Section 8.04 or 8.08 hereof or the principal and interest received in respect
thereof other than any such tax, fee or other charge which by law is for the account of the Holders
of the outstanding Securities.

     Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon the request of the Company any money or non-callable
Government Securities held by it as provided in Section 8.04 or 8.08 hereof which, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee (which may be the opinion delivered under Section
8.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to
effect an equivalent Legal Defeasance or Covenant Defeasance.

     Section 8.06. Repayment to Company.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of, premium, if any, or interest on any

57

 

Security and remaining unclaimed for two years after such principal, premium, if any, or
interest has become due and payable shall be paid to the Company on its written request or (if then
held by the Company) shall be discharged from such trust; and the Holder of such Security shall
thereafter, as a general creditor, look only to the Company for payment thereof, and all liability
of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the expense of the Company
cause to be published once, in the New York Times and The Wall Street Journal (national edition),
notice that such money remains unclaimed and that, after a date specified therein, which shall not
be less than 30 days from the date of such notification or publication, any unclaimed balance of
such money then remaining shall be repaid to the Company. Any money held by the Trustee pursuant
to this Section 8.06 shall be held uninvested and without liability for interest.

     Section 8.07. Reinstatement.

     If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable
Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the obligations of the Company and the Subsidiary Guarantors
under this Indenture, the Securities and the Guarantees shall be revived and reinstated as though
no deposit had occurred pursuant to Section 8.02 or 8.03 hereof, as the case may be; provided,
however, that if the Company or any Subsidiary Guarantor makes any payment of principal of,
premium, if any, or interest on any Security following the reinstatement of its obligations, the
Company or such Subsidiary Guarantor shall be subrogated to the rights of the Holders of such
Securities to receive such payment from the money held by the Trustee or Paying Agent.

     Section 8.08. Satisfaction and Discharge.

     The Indenture will be discharged and will cease to be of further effect as to all Securities
issued thereunder, when: (1) either (a) all Securities that have been authenticated (except lost,
stolen or destroyed Securities that have been replaced or paid and Securities for whose payment
money has theretofore been deposited in trust and thereafter repaid to the Company) have been
delivered to the Trustee for cancellation, or (b) all Securities that have not been delivered to
the Trustee for cancellation have become due and payable by reason of the giving of a notice of
redemption or otherwise or will become due and payable (including pursuant to a notice of
redemption duly given) within one year and the Company or any Subsidiary Guarantor has irrevocably
deposited or caused to be irrevocably deposited with the Trustee as trust funds in trust solely for
the benefit of the Holders (in accordance with Section 8.05), cash in U.S. dollars, non-callable
Government Securities, or a combination thereof, in such amounts as will be sufficient without
consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the
Securities not delivered to the Trustee for cancellation for principal, premium, if any, and
accrued interest to the date of maturity or redemption; (2) no Default or Event of Default shall
have occurred and be continuing on the date of such deposit or shall occur as a result of such
deposit (other than a Default or Event of Default resulting from the borrowing of funds to be
applied to such deposit) and such deposit will not result in a breach or violation of,

58

 

or constitute a default under, any instrument (other than this Indenture) to which the Company
or any Subsidiary Guarantor is a party or by which the Company or any Subsidiary Guarantor is
bound; (3) the Company or any Subsidiary Guarantor has paid or caused to be paid all other sums
payable by it under this Indenture; and (4) the Company has delivered an Officers’ Certificate and
an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and
discharge have been satisfied.

ARTICLE 9

Amendment, Supplement And Waiver

     Section 9.01. Without Consent of Holders of Securities.

     Notwithstanding Section 9.02 of this Indenture, the Company, the Subsidiary Guarantors and the
Trustee may amend or supplement this Indenture, the Securities or the Guarantees without the
consent of any Holder of a Security to establish the terms of the Securities in accordance herewith
or:

     (a) to cure any ambiguity, defect or inconsistency;

     (b) to provide for uncertificated Securities in addition to or in place of Certificated
Securities;

     (c) to provide for the assumption of the Company’s obligations to the Holders of the
Securities in the case of a merger or consolidation pursuant to Article 5 hereof;

     (d) to make any change that would provide any additional rights or benefits to the Holders of
the Securities or that does not adversely affect the legal rights hereunder of any Holder of a
Security;

     (e) to secure the Securities or add guarantees thereof; or

     (f) to comply with requirements of the Commission in order to effect or maintain the
qualification of this Indenture under the TIA.

     Upon the request of the Company accompanied by a resolution of the Board of Directors of the
Company and each of the Subsidiary Guarantors, as the case may be, authorizing the execution of any
such amended or supplemental indenture, and upon receipt by the Trustee of the documents described
in Section 7.02 hereof, the Trustee shall join with the Company and the Subsidiary Guarantors in
the execution of any amended or supplemental indenture authorized or permitted by the terms of this
Indenture and to make any further appropriate agreements and stipulations that may be therein
contained, but the Trustee shall not be obligated to enter into such amended or supplemental
indenture that affects its own rights, duties or immunities under this Indenture or otherwise.

59

 

     Section 9.02. With Consent of Holders of Securities.

     Except as provided below in this Section 9.02, the Company, the Subsidiary Guarantors and the
Trustee may amend or supplement this Indenture, the Securities and the Guarantees with the consent
of the Holders of at least a majority in aggregate principal amount of the Securities then
outstanding (including, without limitation, consents obtained in connection with a purchase of, or
tender offer or exchange offer for the Securities), and, subject to Sections 6.04 and 6.07 hereof,
any existing Default or Event of Default (other than a Default or Event of Default in the payment
of the principal of, premium, if any, or interest on the Securities, except a payment default
resulting from an acceleration that has been rescinded) or compliance with any provision of this
Indenture, the Securities or the Guarantees may be waived with the consent of the Holders of a
majority in principal amount of the then outstanding Securities (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or exchange offer for the
Securities).

     Notwithstanding the foregoing, without the consent of at least 662⁄3% in aggregate principal
amount of the Securities then outstanding (including consents obtained in connection with a
purchase of, or tender offer or exchange offer for the Securities), no waiver or amendment to this
Indenture may make any change in the provisions of Sections 3.09, 4.10 and 4.13 hereof that
adversely affect the rights of any Holder of Securities. In addition, any amendment to the
provisions of Article 10 of this Indenture shall require the consent of the Holders of at least
662⁄3% in aggregate principal amount of the Securities then outstanding if such amendment would
adversely affect the rights of Holders of Securities; provided, that, no amendment may be made to
the provisions of Article 10 of this Indenture that adversely affects the rights of any holder of
Senior Debt then outstanding unless the holders of such Senior Debt (or any group or representative
thereof authorized to consent) consent to such change.

     Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal
amount of the Securities then outstanding may waive compliance in a particular instance by the
Company or any Subsidiary Guarantor with any provision of this Indenture, the Securities or the
Guarantees. However, without the consent of each Holder affected, an amendment or waiver may not
(with respect to any Securities held by a non-consenting Holder):

     (a) reduce the principal amount of Securities whose Holders must consent to an amendment,
supplement or waiver;

     (b) reduce the principal of or change the fixed maturity of any Security or alter the
provisions with respect to the redemption of the Securities (except as provided above with respect
to Sections 3.09, 4.10 and 4.13 hereof);

     (c) reduce the rate of or change the time for payment of interest on any Security;

     (d) waive a Default or Event of Default in the payment of principal of or premium, if any, or
interest on the Securities (except a rescission of acceleration of the Securities by the Holders of
at least a majority in principal amount of the Securities and a waiver of the payment default that
resulted from such acceleration);

     (e) make any Security payable in money other than that stated in the Securities;

60

 

     (f) make any change in the provisions of this Indenture relating to waivers of past Defaults
or the rights of Holders of Securities to receive payments of principal or premium, if any, or
interest on the Securities; or

     (g) make any change in the foregoing amendment and waiver provisions.

     Upon the request of the Company accompanied by a resolution of the Board of Directors of the
Company and each of the Subsidiary Guarantors, as the case may be, authorizing the execution of any
such amended or supplemental indenture, and upon the filing with the Trustee of evidence
satisfactory to the Trustee of the consent of the Holders of Securities as aforesaid, and upon
receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee shall join
with the Company and the Subsidiary Guarantors in the execution of such amended or supplemental
indenture unless such amended or supplemental indenture affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but
shall not be obligated to, enter into such amended or supplemental indenture.

     It shall not be necessary for the consent of the Holders of Securities under this Section 9.02
to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if
such consent approves the substance thereof.

     After an amendment, supplement or waiver under this Section becomes effective, the Company
shall mail to the Holders of Securities affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such amended or supplemental
indenture or waiver.

     Section 9.03. Compliance with Trust Indenture Act.

     Every amendment or supplement to this Indenture or the Securities shall be set forth in an
amended or supplemental Indenture that complies with the TIA as then in effect.

     Section 9.04. Revocation and Effect of Consents.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Security is a continuing consent by the Holder of a Security and every subsequent Holder of a
Security or portion of a Security that evidences the same debt as the consenting Holder’s Security,
even if notation of the consent is not made on any Security. However, any such Holder of a Security
or subsequent Holder of a Security may revoke the consent as to its Security if the Trustee
receives written notice of revocation before the date the waiver, supplement or amendment becomes
effective. An amendment, supplement or waiver becomes effective in accordance with its terms and
thereafter binds every Holder.

     The Company may, but shall not be obligated to, fix such record date as it may select for the
purpose of determining the Holders entitled to consent to any amendment, supplement or waiver. If
a record date is fixed, then notwithstanding the last sentence of the immediately preceding
paragraph, those Persons who were Holders at such record date (or their duly designated proxies),
and only those Persons, shall be entitled to revoke any consent previously

61

 

given, whether or not such Persons continue to be Holders after such record date. No such
consent shall be valid or effective for more than 120 days after such record date.

     Section 9.05. Notation on or Exchange of Securities.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Security thereafter authenticated. The Company in exchange for all Securities may issue and the
Trustee shall authenticate new Securities that reflect the amendment, supplement or waiver.

     Failure to make the appropriate notation or issue a new Security shall not affect the validity
and effect of such amendment, supplement or waiver.

     Section 9.06. Trustee to Sign Amendment, etc.

     The Trustee shall sign any amended or supplemental indenture authorized pursuant to this
Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. Neither the Company nor any Subsidiary Guarantor may sign an
amendment or supplemental Indenture until its respective Board of Directors approves it. In
executing any amended or supplemental indenture, the Trustee shall be entitled to receive and
(subject to Section 7.01) shall be fully protected in relying upon, an Officer’s Certificate and an
Opinion of Counsel stating that the execution of such amended or supplemental indenture is
authorized or permitted by this Indenture and that there has been compliance with all conditions
precedent.

ARTICLE 10

Subordination

     Section 10.01. Agreement to Subordinate.

     The Company and each Subsidiary Guarantor agree, and each Holder by accepting a Security and
the related Guarantees agrees, that (i) the Indebtedness evidenced by (a) the Securities,
including, but not limited to, the payment of principal of, premium, if any, and interest on the
Securities, and any other payment Obligation of the Company in respect of the Securities (including
any obligation to repurchase the Securities) is subordinated in right of payment, to the extent and
in the manner provided in this Article, to the prior payment in full in cash of all Senior Debt of
the Company (whether outstanding on the date hereof or hereafter created, incurred, assumed or
guaranteed), and (b) the Guarantees and other payment Obligations in respect of the Guarantees are
subordinated in right of payment, to the extent and in the manner provided in this Article, to the
prior payment in full in cash of all Senior Debt of each Subsidiary Guarantor and (ii) the
subordination is for the benefit of the Holders of Senior Debt.

     Section 10.02. Certain Definitions.

     “Bankruptcy Law” means the Bankruptcy Code or any similar Federal or state law for the relief
of debtors.

62

 

     “Representative” means the indenture trustee or other trustee, agent or representative for any
Senior Debt.

     “Senior Debt” means (i) Indebtedness of the Company or any Subsidiary of the Company under or
in respect of any Credit Facility, whether for principal, interest (including interest accruing
after the filing of a petition initiating any proceeding pursuant to any Bankruptcy Law, whether or
not the claim for such interest is allowed as a claim in such proceeding), reimbursement
obligations, fees, commissions, expenses, indemnities or other amounts and (ii) any other
Indebtedness of the Company or any Subsidiary of the Company permitted under the terms of this
Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that
it is on a parity with or subordinated in right of payment to the Securities; provided, that the
Company’s 73⁄8% Senior Subordinated Notes due 2013, 63⁄8% Senior Subordinated Notes due 2015, 71/2%
Senior Subordinated Notes due 2016, 71/2% Senior Subordinated Notes due 2017, 71/4% Senior Subordinated
Notes due 2018 and 8% Senior Subordinated Notes due 2019 outstanding on the date of this Indenture
shall be deemed to rank on parity with the Securities and shall not be Senior Debt. Notwithstanding
anything to the contrary in the foregoing sentence, Senior Debt will not include (w) any liability
for federal, state, local or other taxes owed or owing by the Company, (x) any Indebtedness of the
Company to any of its Subsidiaries or other Affiliates, (y) any trade payables or (z) any
Indebtedness that is incurred in violation of this Indenture (other than Indebtedness under (i) the
Credit Agreement or (ii) any other Credit Facility that is incurred on the basis of a
representation by the Company to the applicable lenders that it is permitted to incur such
Indebtedness under this Indenture).

     A “distribution” may consist of cash, securities or other property, by set-off or otherwise.

     All Designated Senior Debt now or hereafter existing and all other Obligations relating
thereto shall not be deemed to have been paid in full unless the holders or owners thereof shall
have received payment in full in cash (or other form of payment consented to by the holders of such
Designated Senior Debt) with respect to such Designated Senior Debt and all other Obligations with
respect thereto.

     Section 10.03. Liquidation; Dissolution; Bankruptcy.

     (a) Upon any payment or distribution of property or securities to creditors of the Company in
a liquidation or dissolution of the Company or in a bankruptcy, reorganization, insolvency,
receivership or similar proceeding relating to the Company or its property, or in an assignment for
the benefit of creditors or any marshalling of the Company’s assets and liabilities:

     (1) the holders of Senior Debt of the Company shall be entitled to receive payment in
full in cash of all Obligations in respect of such Senior Debt (including interest after the
commencement of any such proceeding at the rate specified in the applicable Senior Debt,
whether or not a claim for such interest would be allowed in such proceeding) before the
Holders of Securities shall be entitled to receive any payment or distribution with respect
to the Securities and related Obligations (except in each case that Holders of Securities
may receive securities that are subordinated at least to the same extent as the Securities
to Senior Debt and any securities issued in exchange for Senior Debt and payments made from
any defeasance trust created pursuant to Section 8.05

63

 

hereof provided, that the applicable deposit does not violate Article 8 or 10 of this
Indenture); and

     (2) until all Obligations with respect to Senior Debt of the Company (as provided in
subsection (a)(1) above) are paid in full in cash, any payment or distribution to which the
Holders of Securities and the related Guarantees would be entitled shall be made to holders
of Senior Debt of the Company (except that Holders of Securities and the related Guarantees
may receive securities that are subordinated at least to the same extent as the Securities
to Senior Debt and any securities issued in exchange for Senior Debt and payments made from
any defeasance trust created pursuant to Section 8.05 hereof provided, that the applicable
deposit does not violate Article 8 or 10 of this Indenture).

     (b) Upon any payment or distribution of property or securities to creditors of a Subsidiary
Guarantor in a liquidation or dissolution of such Subsidiary Guarantor or in a bankruptcy,
reorganization, insolvency, receivership or similar proceeding relating to such Subsidiary
Guarantor or its property, or in an assignment for the benefit of creditors or any marshalling of
such Subsidiary Guarantor’s assets and liabilities:

     (1) the holders of Senior Debt of such Subsidiary Guarantor shall be entitled to
receive payment in full in cash of all Obligations in respect of such Senior Debt (including
interest after the commencement of any such proceeding at the rate specified in the
applicable Senior Debt, whether or not a claim for such interest would be allowed in such
proceeding) before the Holders of Securities and the related Guarantees shall be entitled to
receive any payment or distribution with respect to the Guarantee made by such Subsidiary
Guarantor (except in each case that Holders of Securities and the related Guarantees may
receive securities that are subordinated at least to the same extent as the Securities to
Senior Debt and any securities issued in exchange for Senior Debt and payments made from any
defeasance trust created pursuant to Section 8.05 hereof provided, that the applicable
deposit does not violate Article 8 or 10 of this Indenture); and

     (2) until all Obligations with respect to Senior Debt of such Subsidiary Guarantor (as
provided in subsection (b)(1) above) are paid in full in cash, any payment or distribution
to which the Holders of Securities and the related Guarantees would be entitled shall be
made to holders of Senior Debt of such Subsidiary Guarantor (except that Holders of
Securities and the related Guarantees may receive securities that are subordinated at least
to the same extent as the Securities to Senior Debt and any securities issued in exchange
for Senior Debt and payments made from any defeasance trust created pursuant to Section 8.05
hereof provided, that the applicable deposit does not violate Article 8 or 10 of this
Indenture).

     Under the circumstances described in this Section 10.03, the Company, any Subsidiary Guarantor
or any receiver, trustee in bankruptcy, liquidating trustee, agent or other similar person making
any payment or distribution of cash or other property or securities is authorized or instructed to
make any payment or distribution to which the Holders of the Securities and the related Guarantees
would otherwise be entitled (other than securities that are subordinated at

64

 

least to the same extent as the Securities to Senior Debt and any securities issued in
exchange for Senior Debt and payments made from any defeasance trust referred to in the second
parenthetical clause of each of clauses (a)(1), (b)(1), (a)(2) and (b)(2) above, which shall be
delivered or paid to the Holders of Securities as set forth in such clauses) directly to the
holders of the Senior Debt of the Company and any Subsidiary Guarantor, as applicable, (pro rata to
such holders on the basis of the respective amounts of Senior Debt of the Company and any
Subsidiary Guarantor, as applicable, held by such holders) or their Representatives, or to any
trustee or trustees under any other indenture pursuant to which any such Senior Debt may have been
issued, as their respective interests appear, to the extent necessary to pay all such Senior Debt
in full, in cash or cash equivalents after giving effect to any concurrent payment, distribution or
provision thereof or to or for the holders of such Senior Debt.

     To the extent any payment of or distribution in respect of Senior Debt (whether by or on
behalf of the Company or any Subsidiary Guarantor, as proceeds of security or enforcement of any
right of setoff or otherwise) is declared to be fraudulent or preferential, set aside or required
to be paid to any receiver, trustee in bankruptcy, liquidating trustee, agent or other similar
Person under any bankruptcy, insolvency, receivership, fraudulent conveyance or similar law, then
if such payment or distribution is recovered by, or paid over to, such receiver, trustee in
bankruptcy, liquidating trustee, agent or other similar Person, the Senior Debt or part thereof
originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such
payment had not occurred. To the extent the obligation to repay any Senior Debt is declared to be
fraudulent, invalid or otherwise set aside under any bankruptcy, insolvency, receivership,
fraudulent conveyance or similar law, then the obligation so declared fraudulent, invalid or
otherwise set aside (and all other amounts that would come due with respect thereto had such
obligation not been so affected) shall be deemed to be reinstated and outstanding as Senior Debt
for all purposes hereof as if such declaration, invalidity or setting aside had not occurred.

     Section 10.04 . Default on Designated Senior Debt.

     The Company and the Subsidiary Guarantors may not make any payment (whether by redemption,
purchase, retirements, defeasance or otherwise) upon or in respect of the Securities and the
related Guarantees (other than securities that are subordinated at least to the same extent as the
Securities to Senior Debt and any securities issued in exchange for Senior Debt and payments and
other distributions made from any defeasance trust created pursuant to Section 8.05 hereof if the
applicable deposit does not violate Article 8 or 10 of this Indenture) until all principal and
other Obligations with respect to the Senior Debt of the Company have been paid in full if:

     (i) a default in the payment of any principal of, premium, if any, or interest on
Designated Senior Debt occurs; or

     (ii) any other default occurs and is continuing with respect to Designated Senior Debt
that permits, or with the giving of notice or passage of time or both (unless cured or
waived) would permit, holders of the Designated Senior Debt as to which such default relates
to accelerate its maturity and the Trustee receives a notice of the default (a “Payment
Blockage Notice”) from the Company or the holders of any Designated Senior Debt. If the
Trustee receives any such Payment Blockage Notice, no subsequent Payment

65

 

Blockage Notice shall be effective for purposes of this Section unless and until 360
days shall have elapsed since the date of commencement of the payment blockage period
resulting from the immediately prior Payment Blockage Notice. No nonpayment default in
respect of any Designated Senior Debt that existed or was continuing on the date of delivery
of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a
subsequent Payment Blockage Notice.

     The Company shall resume payments on and distributions in respect of the Securities and any
Subsidiary Guarantor shall resume making payments and distributions pursuant to the Guarantees
upon:

          (1) in the case of a default referred to in Section 10.04(i) hereof the date upon which
the default is cured or waived, or

          (2) in the case of a default referred to in Section 10.04(ii) hereof, the earliest of
(1) the date on which such nonpayment default is cured or waived, (2) the date the
applicable Payment Blockage Notice is retracted by written notice to the Trustee and (3) 90
days after the date on which the applicable Payment Blockage Notice is received unless (A)
the maturity of any Designated Senior Debt has been accelerated or (B) a Default or Event of
Default under Section 6.01(9) or (10) has occurred and is continuing,

if this Article otherwise permits the payment, distribution or acquisition at the time of such
payment or acquisition.

     Section 10.05 . Acceleration of Securities.

     If payment of the Securities is accelerated because of an Event of Default, the Company shall
promptly notify holders of Senior Debt of the acceleration.

     Section 10.06 . When Distribution Must be Paid Over.

     In the event that the Trustee or any Holder receives any payment or distribution of or in
respect of any Obligations with respect to the Securities or the Guarantees at a time when such
payment or distribution is prohibited by Section 10.03 or Section 10.04 hereof, such payment or
distribution shall be held by the Trustee (if the Trustee has actual knowledge that such payment or
distribution is prohibited by Section 10.03 or Section 10.04) or such Holder, in trust for the
benefit of, and shall be paid forthwith over and delivered to, the holders of Senior Debt as their
interests may appear or their Representative under the indenture or other agreement (if any)
pursuant to which such Senior Debt may have been issued, as their respective interests may appear,
for application to the payment of all Obligations with respect to Senior Debt remaining unpaid to
the extent necessary to pay such Obligations in full in accordance with their terms, after giving
effect to any concurrent payment or distribution to or for the holders of Senior Debt.

     With respect to the holders of Senior Debt, the Trustee undertakes to perform only such
obligations on the part of the Trustee as are specifically set forth in this Article 10, and no
implied covenants or obligations with respect to the holders of Senior Debt shall be read into this
Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the
holders of Senior Debt, and, except as provided in Section 10.12, shall not be liable to any such

66

 

holders if the Trustee shall pay over or distribute to or on behalf of Holders of Securities
or the Company, the Subsidiary Guarantors or any other Person money or assets to which any holders
of Senior Debt shall be entitled by virtue of this Article 10, except if such payment is made as a
result of the willful misconduct or gross negligence of the Trustee.

     Section 10.07. Notice by Company.

     The Company and the Subsidiary Guarantors shall promptly notify the Trustee and the Paying
Agent of any facts known to the Company or any Subsidiary Guarantor that would cause a payment of
any Obligations with respect to the Securities or the related Guarantees to violate this Article,
but failure to give such notice shall not affect the subordination of the Securities and the
related Guarantees to the Senior Debt as provided in this Article.

     Section 10.08. Subrogation.

     After all Senior Debt is paid in full and until the Securities are paid in full, Holders of
Securities and the related Guarantees shall be subrogated (equally and ratably with all other
Indebtedness pari passu with the Securities and the Guarantees) to the rights of holders of Senior
Debt to receive distributions and payments applicable to Senior Debt to the extent that
distributions and payments otherwise payable to the Holders of Securities and the related
Guarantees have been applied to the payment of Senior Debt. A payment or distribution made under
this Article to holders of Senior Debt that otherwise would have been made to Holders of Securities
and the related Guarantees is not, as between the Company and Holders of Securities, a payment by
the Company on the Securities.

     Section 10.09. Relative Rights.

     This Article defines the relative rights of Holders of Securities and the related Guarantees
and holders of Senior Debt. Nothing in this Indenture shall:

          (1) impair, as between the Company and Holders of Securities, the obligation of the
Company, which is absolute and unconditional, to pay principal of and interest on the
Securities in accordance with their terms;

          (2) affect the relative rights of Holders of Securities and the related Guarantees and
creditors of the Company other than their rights in relation to holders of Senior Debt; or

          (3) prevent the Trustee or any Holder from exercising its available remedies upon a
Default or Event of Default, subject to the rights of holders and owners of Senior Debt to
receive distributions and payments otherwise payable to Holders of Securities and the
related Guarantees.

     If the Company fails because of this Article to pay principal of or interest on a Security on
the due date, the failure is still a Default or Event of Default.

67

 

     Section 10.10. Subordination May Not be Impaired by Company or the Subsidiary Guarantors.

     No right of any present or future holders of any Senior Debt to enforce subordination as
provided in this Article 10 will at any time in any way be prejudiced or impaired by any act or
failure to act on the part of the Company or any Subsidiary Guarantor or by any act or failure to
act, in good faith, by any such holder, or by any noncompliance by the Company or any Subsidiary
Guarantor with the terms of this Indenture, regardless of any knowledge thereof that any such
holder of Senior Debt may have or otherwise be charged with. The provisions of this Article 10 are
intended to be for the benefit of, and shall be enforceable directly by, the holders of Senior
Debt.

     Section 10.11. Payment, Distribution or Notice to Representative.

     Whenever a payment or distribution is to be made or a notice given to holders of Senior Debt,
the distribution may be made and the notice given to their Representative.

     Upon any payment or distribution of assets or securities of the Company or any Subsidiary
Guarantor referred to in this Article 10, the Trustee and the Holders of Securities and the related
Guarantees shall be entitled to rely upon any order or decree made by any court of competent
jurisdiction or upon any certificate of such Representative or of the liquidating trustee or agent
or other Person making any payment or distribution to the Trustee or to the Holders of Securities
and the related Guarantees for the purpose of ascertaining the Persons entitled to participate in
such payment or distribution, the holders of the Senior Debt and other Indebtedness of the Company
or any Subsidiary Guarantor, the amount thereof or payable thereon, the amount or amounts paid or
distributed thereon and all other facts pertinent thereto or to this Article 10.

     Section 10.12. Rights of Trustee and Paying Agent.

     Notwithstanding the provisions of this Article 10 or any other provision of this Indenture,
the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit
the making of any payment or distribution by the Trustee, and the Trustee and the Paying Agent may
continue to make payments on the Securities and the Guarantees, unless the Trustee shall have
received at its Corporate Trust Office at least one Business Day prior to the date of such payment
written notice of facts that would cause the payment of any Obligations with respect to the
Securities or Guarantees to violate this Article, which notice shall specifically refer to Section
10.03 or 10.04 hereof. Only the Company or a Representative may give the notice. Nothing in this
Article 10 shall impair the claims of, or payments to, the Trustee under or pursuant to Section
7.07 hereof.

     The Trustee in its individual or any other capacity may hold Senior Debt with the same rights
it would have if it were not Trustee. Any Agent may do the same with like rights.

     Section 10.13. Authorization to Effect Subordination.

     Each Holder by the Holder’s acceptance thereof authorizes and directs the Trustee on the
Holder’s behalf to take such action as may be necessary or appropriate to effectuate the
subordination as provided in this Article 10, and appoints the Trustee to act as the Holder’s

68

 

attorney-in-fact for any and all such purposes. If the Trustee does not file a proper proof of
claim or proof of debt in the form required in any proceeding referred to in Section 6.09 hereof at
least 30 days before the expiration of the time to file such claim, each lender under the Credit
Agreement is hereby authorized to file an appropriate claim for and on behalf of the Holders of the
Securities and the related Guarantees.

     Section 10.14. Amendments.

     No amendment may be made to the provisions of or the definitions of any terms appearing in
this Article 10, or to the provisions of Section 6.02 relating to the Designated Senior Debt, that
adversely affects the rights of any holder of Senior Debt then outstanding unless the holders of
such Senior Debt (or any group or Representative authorized to give a consent) consent to such
change.

     Section 10.15. No Waiver of Subordination Provisions.

     Without in any way limiting the generality of Section 10.09 of this Indenture, the holders of
Senior Debt may, at any time and from time to time, without the consent of or notice to the Trustee
or the Holders, without incurring responsibility to the Holders and without impairing or releasing
the subordination provided in this Article 10 or the obligations hereunder of the Holders to the
holders of Senior Debt, do any one or more of the following: (a) change the manner, place or terms
of payment or extend the time of payment of, or renew or alter, Senior Debt or any instrument
evidencing the same or any agreement under which Senior Debt is outstanding or secured; (b) sell,
exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing
Senior Debt; (c) release any Person liable in any manner for the collection of Senior Debt; and (d)
exercise or refrain from exercising any rights against the Company and each Subsidiary Guarantor
and any other Person.

ARTICLE 11

The Guarantees

     Section 11.01. The Guarantees.

     Each of the Subsidiary Guarantors hereby, jointly and severally, unconditionally guarantees to
each Holder of a Security authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, irrespective of the validity and enforceability of this Indenture, the
Securities or the obligations of the Company hereunder or thereunder, that: (a) the principal of
and premium, if any, and interest, on the Securities shall be promptly paid in full when due,
whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue
principal of and interest on premium and interest, on the Securities, if any, if lawful, and all
other obligations of the Company to the Holders or the Trustee hereunder or thereunder shall be
promptly paid in full or performed, all in accordance with the terms hereof and thereof; and (b) in
case of any extension of time of payment or renewal of any Securities or any of such other
obligations, that the same shall be promptly paid in full when due or performed in accordance with
the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.
Failing payment when due of any amount so guaranteed or any performance so

69

 

guaranteed for whatever reason, the Subsidiary Guarantors shall be jointly and severally
obligated to pay the same immediately. The Subsidiary Guarantors hereby agree that their
obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Securities or this Indenture, the absence of any action to enforce the same,
any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery
of any judgment against the Company, any action to enforce the same or any other circumstance which
might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each of the
Subsidiary Guarantors hereby waives diligence, presentment, demand of payment, filing of claims
with a court in the event of insolvency or bankruptcy of the Company, any right to require a
proceeding first against the Company, protest, notice and all demands whatsoever and covenant that
this Guarantee shall not be discharged except by complete performance of the obligations contained
in the Securities and this Indenture. If any Holder or the Trustee is required by any court or
otherwise to return to the Company or the Subsidiary Guarantors, or any Custodian, Trustee,
liquidator or other similar official acting in relation to either the Company or the Subsidiary
Guarantors, any amount paid by either to the Trustee or such Holder, this Guarantee, to the extent
theretofore discharged, shall be reinstated in full force and effect. Each of the Subsidiary
Guarantors agrees that it shall not be entitled to any right of subrogation in relation to the
Holders of Securities in respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby. Each of the Subsidiary Guarantors further agrees that, as between
the Subsidiary Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x)
the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 for
the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the obligations guaranteed hereby and (y) in the event
of any declaration of acceleration of such obligations as provided in Article 6, such obligations
(whether or not due and payable) shall forthwith become due and payable by the Subsidiary
Guarantors for the purpose of this Guarantee. The Subsidiary Guarantors shall have the right to
seek contribution from any Subsidiary Guarantor not paying so long as the exercise of such right
does not impair the rights of the Holders under the Guarantees.

     Section 11.02. Execution and Delivery of Guarantees.

     (i) To evidence its Guarantee set forth in Section 11.01, each of the Subsidiary Guarantors
hereby agrees that a notation of such Guarantee substantially in the form of Exhibit B shall be
endorsed by an officer of such Subsidiary Guarantor on each Security authenticated and delivered by
the Trustee, that this Indenture shall be executed on behalf of such Subsidiary Guarantor by an
Officer thereof.

     Each Subsidiary Guarantor hereby agrees that its Guarantee set forth in Section 11.01 shall
remain in full force and effect notwithstanding any failure to endorse on each Security a notation
of such Guarantee.

     If an Officer whose signature is on this Indenture or on the applicable Guarantee no longer
holds that office at the time the Trustee authenticates the Security on which such Guarantee is
endorsed, such Guarantee shall be valid nevertheless.

70

 

     The delivery of any Security by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Guarantees set forth in this Indenture on behalf of the Subsidiary
Guarantors.

     Section 11.03 . Subsidiary Guarantors May Consolidate, etc., on Certain Terms.

     No Subsidiary Guarantor may consolidate with or merge with or into (whether or not such
Subsidiary Guarantor is the Surviving Person) another Person, whether or not affiliated with such
Subsidiary Guarantor, unless:

     (a) subject to the provisions of Section 11.04 hereof, the Person formed by or surviving any
such consolidation or merger (if other than such Subsidiary Guarantor) assumes all the obligations
of such Subsidiary Guarantor pursuant to a supplemental indenture in form reasonably satisfactory
to the Trustee in respect of the Securities, this Indenture and such Subsidiary Guarantor’s
Guarantee;

     (b) immediately after giving effect to such transaction, no Default or Event of Default
exists; and

     (c) such transaction does not violate any of Sections 4.03, 4.07, 4.08, 4.09, 4.11, 4.12,
4.13, 4.14, 4.16 and 4.17.

Notwithstanding the foregoing, none of the Subsidiary Guarantors shall be permitted to consolidate
with or merge with or into (whether or not such Subsidiary Guarantor is the surviving Person),
another corporation, Person or entity pursuant to the preceding sentence if such consolidation or
merger would not be permitted by Section 5.01 hereof.

     In case of any such consolidation or merger and upon the assumption by the successor
corporation, by supplemental indenture, executed and delivered to the Trustee and satisfactory in
form to the Trustee, of the Guarantee endorsed upon the Securities and the due and punctual
performance of all of the covenants and conditions of this Indenture to be performed by such
Subsidiary Guarantor, such successor corporation shall succeed to and be substituted for such
Subsidiary Guarantor with the same effect as if it had been named herein as a Subsidiary Guarantor.
Such successor corporation thereupon may cause to be signed any or all of the Guarantees to be
endorsed upon all of the Securities issuable hereunder which theretofore shall not have been signed
by the Company and delivered to the Trustee. All the Guarantees so issued shall in all respects
have the same legal rank and benefit under this Indenture as the Guarantees theretofore and
thereafter issued in accordance with the terms of this Indenture as though all of such Guarantees
had been issued at the date of the execution hereof.

     Except as set forth in Articles 4 and 5 hereof, nothing contained in this Indenture or in any
of the Securities shall prevent any consolidation or merger of any Subsidiary Guarantor with or
into the Company or another Subsidiary Guarantor, or shall prevent any sale or conveyance of the
property of any Subsidiary Guarantor as an entirety or substantially as an entirety to the Company
or any Subsidiary Guarantor.

71

 

     Section 11.04 . Releases of Guarantees.

     In the event of a sale or other disposition of all or substantially all of the assets of any
Subsidiary Guarantor or a sale or other disposition of all of the capital stock of any Subsidiary
Guarantor, to any corporation or other Person (including an Unrestricted Subsidiary) by way of
merger, consolidation, or otherwise, in a transaction that does not violate any of the covenants of
this Indenture, then such Subsidiary Guarantor (in the event of a sale or other disposition, by way
of such merger, consolidation or otherwise, of all the capital stock of such Subsidiary Guarantor)
shall be released and relieved of any obligations under its Guarantee and such acquiring
corporation or other Person (in the event of a sale or other disposition of all or substantially
all of the assets of such Subsidiary Guarantor), if other than a Subsidiary Guarantor, shall have
no obligation to assume or otherwise become liable under such Guarantee. Upon delivery by the
Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that
such sale or other disposition was made by the Company in accordance with the provisions of this
Indenture, including without limitation Section 4.10, such Subsidiary Guarantor shall ipso
facto be released from its obligations under its Guarantee and the Trustee shall execute any
documents reasonably required in order to evidence the release of any Subsidiary Guarantor from its
obligations under its Guarantee.

     Any Subsidiary Guarantor not released from its obligations under its Guarantee shall remain
liable for the full amount of principal of and interest on the Securities and for the other
obligations of such Subsidiary Guarantor under this Indenture as provided in this Article 11.

     Any Subsidiary Guarantor that is designated an Unrestricted Subsidiary in accordance with the
terms of this Indenture shall be released from and relieved of its obligations under its Guarantee.

     Section 11.05 . Limitation on Subsidiary Guarantor Liability.

     For purposes hereof, each Subsidiary Guarantor’s liability shall be that amount from time to
time equal to the aggregate liability of such Subsidiary Guarantor thereunder, but shall be limited
to the lesser of (i) the aggregate amount of the Obligations of the Company under the Securities
and this Indenture and (ii) the amount, if any, which would not have (A) rendered such Subsidiary
Guarantor “insolvent” (as such term is defined in the Bankruptcy Code and in the Debtor and
Creditor Law of the State of New York) or (B) left it with unreasonably small capital at the time
its Guarantee of the Securities was entered into, after giving effect to the incurrence of existing
Indebtedness immediately prior to such time; provided, that, it shall be a presumption in any
lawsuit or other proceeding in which such Subsidiary Guarantor is a party that the amount
guaranteed pursuant to its Guarantee is the amount set forth in clause (i) above unless any
creditor, or representative of creditors of such Subsidiary Guarantor, or debtor in possession or
trustee in bankruptcy of such Subsidiary Guarantor, otherwise proves in such a lawsuit that the
aggregate liability of such Subsidiary Guarantor is limited to the amount set forth in clause (ii).
In making any determination as to the solvency or sufficiency of capital of a Subsidiary Guarantor
in accordance with the previous sentence, the right of such Subsidiary Guarantor to contribution
from other Subsidiary Guarantors and any other rights such Subsidiary Guarantor may have,
contractual or otherwise, shall be taken into account.

72

 

     Section 11.06 . “Trustee” to Include Paying Agent.

     In case at any time any Paying Agent other than the Trustee shall have been appointed by the
Company and be then acting hereunder, the term “Trustee” as used in Article 10 and this Article 11
shall in such case (unless the context shall otherwise require) be construed as extending to and
including such Paying Agent within its meaning as fully and for all intents and purposes as if such
Paying Agent were named in Article 10 and this Article 11 in place of the Trustee.

     Section 11.07 . Subordination of Guarantees.

     The obligations of each of the Subsidiary Guarantors under its Guarantee pursuant to this
Article 11 shall be junior and subordinated to the Senior Debt of the Subsidiary Guarantor pursuant
to Article 10 hereof. For the purposes of the foregoing sentence, the Trustee and the Holders shall
have the right to receive and/or retain payments or distributions by or on behalf of any of the
Subsidiary Guarantors only at such times as they may receive and/or retain payments in respect of
the Securities pursuant to this Indenture, including Article 10 hereof.

ARTICLE 12

Miscellaneous

     Section 12.01 . Trust Indenture Act Controls.

     If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by
TIA § 318(c), the imposed duties shall control. If any provisions of this Indenture modifies or
excludes any provision of the TIA that may be so modified or excluded, the latter provision shall
be deemed to apply to this Indenture as so modified or excluded, as the case may be.

     Section 12.02 . Notices.

     Any notice or communication by the Company or the Subsidiary Guarantors or the Trustee to the
others is duly given if in writing and delivered, in person or mailed by first class mail
(registered or certified, return receipt requested), telecopier or overnight air courier
guaranteeing next day delivery, to the others’ address:

     If to the Company or any Subsidiary Guarantor:

Range Resources Corporation

100 Throckmorton Street, Suite 1200

Fort Worth, Texas 76102

Telecopier No.: (817) 869-4254

Attention: David P. Poole

73

 

With a copy to:

Vinson & Elkins L.L.P.

2500 First City Tower

1001 Fannin Street

Houston, Texas 77002

Telecopier No.: (713) 615-5967

Attention: Kevin P. Lewis

If to the Trustee:

The Bank of New York Mellon Trust Company, N.A.

601 Travis, 16th Floor

Houston, Texas 77002

Attention: Marcella Burgess

Telecopier No.: (713) 483-7038

Ref: Range Resources Corporation

     The Company or any Subsidiary Guarantor or the Trustee, by notice to the others may designate
additional or different addresses for subsequent notices or communications.

     All notices and communications (other than those sent to Holders) shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, first class mail, certified or registered, return receipt requested, postage
prepaid, if mailed; when receipt acknowledged, if by telecopy; and the next Business Day after
timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery.

     Any notice or communication to a Holder shall be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the Register kept by the Registrar. Any notice or communication shall also be
so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to
mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency
with respect to other Holders.

     If a notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

     If the Company or any Subsidiary Guarantor mails a notice or communication to Holders, it
shall mail a copy to the Trustee and each Agent at the same time.

     Section 12.03 . Communication by Holders of Securities with Other Holders of Securities.

     Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their
rights under this Indenture or the Securities. The Company, the Subsidiary Guarantors, the Trustee,
the Registrar and anyone else shall have the protection of TIA § 312(c) .

74

 

     Section 12.04 . Certificate and Opinion as to Conditions Precedent.

     Upon any request or application by the Company or any Subsidiary Guarantor to the Trustee to
take any action under this Indenture, the Company or such Subsidiary Guarantor, as the case may be,
shall furnish to the Trustee:

     (a) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee (which shall include the statements set forth in Section 12.05 hereof) stating that,
in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been complied with; and

     (b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 12.05 hereof) stating that, in the
opinion of such counsel, all such conditions precedent and covenants have been complied
with.

     Section 12.05 . Statements Required in Certificate or Opinion.

     Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply
with the provisions of TIA § 314(e) and shall include:

          (a) a statement that the Person making such certificate or opinion has read such
covenant or condition;

          (b) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based;

          (c) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed
opinion as to whether or not such covenant or condition has been complied with; and

          (d) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been complied with.

     Section 12.06 . Rules by Trustee and Agents.

     The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

     Section 12.07 . No Personal Liability of Directors, Officers, Employees and Stockholders.

     No director, officer, employee, incorporator or stockholder of the Company, as such, shall
have any liability for any obligations of the Company under the Securities or this Indenture or for
any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder
of Securities, by accepting a Security, waives and releases all such liability. The waiver

75

 

and release are part of the consideration for issuance of the Securities. Such waiver may not
be effective to waive liabilities under the federal securities laws and it is the view of the
Commission that such a waiver is against public policy.

     Section 12.08 . Governing Law.

     THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE,
THE SECURITIES AND THE GUARANTEES.

     Section 12.09 . No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Company or their respective Subsidiaries or of any other Person. Any such indenture, loan or debt
agreement may not be used to interpret this Indenture and the Guarantees.

     Section 12.10 . Successors.

     All agreements of the Company and each Subsidiary Guarantor in this Indenture, the Securities
and the Guarantees shall bind its respective successors. All agreements of the Trustee in this
Indenture shall bind its successors.

     Section 12.11 . Severability.

     In case any provision in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

     Section 12.12 . Counterpart Originals.

     The parties may sign any number of copies of this Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement.

     Section 12.13 . Table of Contents, Headings, etc.

     The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of
this Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

     Section 12.14 . Actions on Other than Business Days.

     Unless otherwise provided herein, if the date for making any payment or the last date for the
performance of any act or the exercising of any right, as provided in this Indenture, is not a
Business Day, such payment may be made, act performed or right exercised on the next succeeding
Business Day, with the same force and effect as if made or done on the nominal date provided
therefor, and, with respect to any payment so made, no interest shall accrue for the period between
such nominal date and the date of payment.

[Signatures on following page]

76

 

SIGNATURES

Dated as of August 12, 2010

	 	 	 	 	 

	 	 	RANGE RESOURCES CORPORATION
	 
	 	 	 	 
	Attest:

	 	By:
	 	/s/ Dori A. Ginn
	 

	 	 	 	 
	/s/ David P. Poole

David P. Poole, Secretary
	 	 	 	Name:Dori A. Ginn

Title: Vice President, Controller and Principal

Accounting Officer
	 
	 	 	 	 
	 	 	AMERICAN ENERGY SYSTEMS, LLC
	 	 	ENERGY ASSETS OPERATING COMPANY, LLC
	 	 	OIL & GAS TITLE ABSTRACTING, LLC
	 	 	RANGE ENERGY SERVICES COMPANY, LLC
	 	 	RANGE GATHERING & PROCESSING COMPANY, LLC
	 	 	RANGE OPERATING NEW MEXICO, LLC
	 	 	RANGE PRODUCTION COMPANY
	 	 	RANGE RESOURCES—APPALACHIA, LLC
	 	 	RANGE RESOURCES—MIDCONTINENT, LLC
	 	 	RANGE RESOURCES—PINE MOUNTAIN, INC.
	 	 	RANGE TEXAS PRODUCTION, LLC
	 
	 	 	 	 
	Attest:

	 	By:
	 	/s/ Dori A. Ginn
	 

	 	 	 	 
	/s/ David P. Poole
David P. Poole, Secretary
 

	 	 
	 	Name: Dori A. Ginn 
Title: Vice President

[Signature Page to Indenture]

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST 

COMPANY, N.A., as Trustee

 	 
	 	By:  	/s/ Marcella Burgess
 	 
	 	 	Name:  	Marcella Burgess 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page to Indenture]

 

 

EXHIBIT A

DTC LEGEND

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN.

     [TRANSFERS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES
OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE
INDENTURE.]

A-1

 

EXHIBIT B

Guarantee

     Each of the Subsidiary Guarantors hereby, jointly and severally and unconditionally guarantees
to each Holder of a Security authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, irrespective of the validity and enforceability of the Indenture, dated as
of August 12, 2010, among Range Resources Corporation, a Delaware corporation (the “Company”), the
Subsidiary Guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee
(the “Trustee”) (as it may be amended or supplemented, the “Indenture”), the Securities or the
obligations of the Company hereunder or thereunder, that: (a) the principal of, and premium, if
any, and interest on, the Securities shall be promptly paid in full when due, whether at maturity,
by acceleration, redemption or otherwise, and interest on the overdue principal of, and interest on
premium and interest on, the Securities, if any, if lawful, and all other obligations of the
Company to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full or
performed, all in accordance with the terms hereof and thereof; and (b) in case of any extension of
time of payment or renewal of any Securities or any of such other obligations, that same shall be
promptly paid in full when due or performed in accordance with the terms of the extension or
renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any
amount so guaranteed or any performance so guaranteed for whatever reason, the Subsidiary
Guarantors shall be jointly and severally obligated to pay the same immediately.

     The obligations of the Subsidiary Guarantors to the Holders of Securities and to the Trustee
pursuant to this Guarantee and the Indenture (including the subordination provisions thereof) are
expressly set forth in Article 11 of the Indenture, and reference is hereby made to such Indenture
for the precise terms of this Guarantee. The terms of Article 11 of the Indenture are incorporated
herein by reference.

     This is a continuing Guarantee and shall remain in full force and effect and shall be binding
upon each of the Subsidiary Guarantors and its respective successors and assigns to the extent set
forth in the Indenture until full and final payment of all of the Company’s Obligations under the
Securities and the Indenture and shall inure to the benefit of the Trustee and the Holders of
Securities and their successors and assigns and, in the event of any transfer or assignment of
rights by any Holder of Securities or the Trustee, the rights and privileges herein conferred upon
that party shall automatically extend to and be vested in such transferee or assignee, all subject
to the terms and conditions hereof. Notwithstanding the foregoing, any Subsidiary Guarantor that
satisfies the provisions of Section 11.04 of the Indenture shall be released of its obligations
hereunder. This is a Guarantee of payment and not a, guarantee of collection.

     This Guarantee shall not be valid or obligatory for any purpose until the certificate of
authentication on the Security upon which this Guarantee is noted shall have been executed by the
Trustee under the Indenture by the manual signature of one of its authorized officers.

     For purposes hereof, each Subsidiary Guarantor’s liability will be that amount from time to
time equal to the aggregate liability of such Subsidiary Guarantor hereunder but shall be limited
to the lesser of (i) the aggregate amount of the obligations of the Company under the Securities
and the

A-1

 

Indenture and (ii) the amount, if any, which would not have (A) rendered such Subsidiary
Guarantor “insolvent” (as such term is defined in the federal Bankruptcy Code and in the Debtor and
Creditor law of the State of New York) or (B) left it with unreasonably small capital at the time
its Guarantee was entered into, after giving effect to the incurrence of existing Indebtedness
immediately prior to such time; provided, that, it shall be a presumption in any lawsuit or other
proceeding in which such Subsidiary Guarantor is a party that the amount guaranteed pursuant to its
Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of
creditors of such Subsidiary Guarantor, or debtor in possession or trustee in bankruptcy of such
Subsidiary Guarantor, otherwise proves in such a lawsuit that the aggregate liability of such
Subsidiary Guarantor is limited to the amount set forth in clause (ii). The Indenture provides
that, in making any determination as to the solvency or sufficiency of capital of a Subsidiary
Guarantor in accordance with the previous sentence, the right of such Subsidiary Guarantor to
contribution from other Subsidiary Guarantors and any other rights such Subsidiary Guarantor may
have, contractual or otherwise, shall be taken into account.

     Capitalized terms used herein have the same meanings given in the Indenture unless otherwise
indicated.

	 	 	 	 	 
	 	AMERICAN ENERGY SYSTEMS, LLC

ENERGY ASSETS OPERATING COMPANY, LLC

OIL & GAS TITLE ABSTRACTING, LLC

RANGE ENERGY SERVICES COMPANY, LLC

RANGE GATHERING & PROCESSING COMPANY, LLC

RANGE OPERATING NEW MEXICO, LLC

RANGE PRODUCTION COMPANY

RANGE RESOURCES—APPALACHIA, LLC

RANGE RESOURCES—MIDCONTINENT, LLC

RANGE RESOURCES—PINE MOUNTAIN, INC.

RANGE TEXAS PRODUCTION, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]