Document:

exhibit.htm

    Exhibit
10.3

    

    

    FOURTH AMENDMENT
TO

    FIRST AMENDED AND RESTATED
REVOLVING

     

    CREDIT AGREEMENT AND RENEWAL
NOTE

     

    THIS
FOURTH AMENDMENT TO FIRST AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT AND
RENEWAL NOTE (herein called this "Amendment") dated
effective as of April 18, 2008 by and among M/I FINANCIAL CORP., an Ohio
corporation ("Financial"), M/I
HOMES, INC. (formerly known as M/I Schottenstein Homes, Inc.), an Ohio
corporation ("M/I
Homes") (Financial and M/I Homes are sometimes hereinafter referred to
collectively as the "Borrowers"), and
GUARANTY BANK, a federal savings bank ("Bank"),

     

    W I T N E
S S E T H:

     

    WHEREAS,
Borrowers and Bank have entered into that certain First Amended and Restated
Revolving Credit Agreement dated as of April 27, 2006 (as heretofore
amended by the First Amendment to First Amended and Restated Revolving Credit
Agreement made as of November 13, 2006, that certain Second Amendment to
First Amended and Restated Revolving Credit Agreement, dated as of
April 27, 2007, and that certain Third Amendment to First Amended and
Restated Revolving Credit Agreement, dated as of August 8, 2007 the "Original Credit
Agreement"), for the purposes and consideration therein expressed,
pursuant to which Bank became obligated to make loans to Borrowers as therein
provided; and

     

    WHEREAS,
Borrowers and Bank desire to amend the Original Credit Agreement and the Renewal
Note as provided herein;

     

    NOW,
THEREFORE, in consideration of the premises and the mutual covenants and
agreements contained herein and in the Original Credit Agreement, in
consideration of the loans which may hereafter be made by Bank to Borrowers, and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto do hereby agree as
follows:

     

    ARTICLE
I.

     

    

     

    Definitions
and References

     

    Section
1.1. Terms Defined in the
Original Credit Agreement.  Unless the context otherwise
requires or unless otherwise expressly defined herein, the terms defined in the
Original Credit Agreement shall have the same meanings whenever used in this
Agreement.

     

    Section
1.2. Other Defined
Terms.  Unless the context otherwise requires, the following
terms when used in this Amendment shall have the meanings assigned to them in
this Section 1.2.

     

    "Amendment" shall mean
this Fourth Amendment to Credit Agreement and Renewal Note.

     

    "Credit Agreement"
shall mean the Original Credit Agreement, as amended hereby.

     

    ARTICLE
II.

     

    

     

    Amendments to Original
Credit Agreement

     

    Section
2.1. Definitions.  The
definitions of "Commitment" and
"Commitment
Period" in Section 1.1 of the Original Credit Agreement are each
hereby amended by deleting the reference to "April 25, 2008" therein and
substituting "May 30, 2008" in lieu thereof.

     

    
      
        
        

      

      
        
          

        

      

       

    

    ARTICLE
III.

     

    

     

    Amendment to Renewal
Note

     

    Section
3.1. Renewal Note
Amendment.  The Renewal Note is hereby amended by deleting the
reference to "April 25, 2008" set forth therein and inserting "May 30,
2008" in lieu thereof.

     

    ARTICLE
IV.

     

    

     

    Conditions
of Effectiveness

     

    Section
4.1. Effective
Date.  This Amendment shall become effective as of the date
first above written when and only when Bank shall have received, at Bank's
office,

     

    (a) a duly
executed counterpart of this Amendment, and

     

    (b) a duly
executed certificate of the president, chief executive officer or chief
financial officer and of the secretary of each Borrower certifying
(i) that, in the case of M/I Homes, the action of the executive committee
of the board of directors, and, in the case of Financial, the action of sole
shareholder, authorizing the execution, delivery and performance of this
Amendment and identifying the officers authorized to sign this Amendment, copies
of which actions are attached to the respective certificates, are in full force
and effect, (ii)  that the specimen signatures of the officers so
authorized, copies of which specimen signatures are attached to the respective
certificates, are true and correct, and (iii)  that the articles of
incorporation and code of regulations of such Borrower have not been amended
since the date of the Original Credit Agreement.

     

    ARTICLE
V.

     

    

     

    Representations and
Warranties

     

    Section
5.1. Representations and
Warranties of Borrowers.  In order to induce Bank to enter into
this Amendment, each Borrower represents and warrants to Bank that:

     

    (a) The
representations and warranties contained in Section 3 of the Original
Credit Agreement are true and correct at and as of the time of the effectiveness
hereof;

     

    (b) Each
Borrower is duly authorized to execute and deliver this Amendment and is and
will continue to be duly authorized to borrow and to perform its obligations
under the Original Credit Agreement and the Renewal Note.  Each
Borrower has duly taken all corporate action necessary to authorize the
execution and delivery of this Amendment and to authorize the performance of the
obligations of such Borrower hereunder and thereunder;

     

    (c) The
execution and delivery by each Borrower of this Amendment, the performance by
each Borrower of its obligations hereunder and thereunder and the consummation
of the transactions contemplated hereby do not and will not conflict with any
provision of law, statute, rule or regulation or of the articles of
incorporation and bylaws of such Borrower, or of any material agreement,
judgment, license, order or permit applicable to or binding upon such Borrower,
or result in the creation of any lien, charge or encumbrance upon any assets or
properties of such Borrower.  Except for those which have been duly
obtained, no consent, approval, authorization or order of any court or
governmental authority or third party is required in connection with the
execution and delivery by Borrowers of this Amendment or to consummate the
transactions contemplated hereby and thereby; and

     

    (d) When duly
executed and delivered, this Amendment will be a legal and binding instrument
and agreement of Borrowers, enforceable in accordance with its terms, except as
limited by bankruptcy, insolvency and similar laws applying to creditors' rights
generally and by principles of equity applying to creditors' rights
generally.

     

    ARTICLE
VI.

     

    

     

    Miscellaneous

     

    Section
6.1. Ratification of
Agreement.  The Original Credit Agreement and the Renewal Note
as hereby amended are hereby ratified and confirmed in all
respects.  Any reference to the Credit Agreement or the Renewal Note
in any Loan Document shall be deemed to refer to this Amendment
also.  The execution, delivery and effectiveness of this Amendment
shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of Bank under the Original Credit Agreement or any other
Loan Document nor constitute a waiver of any provision of the Original Credit
Agreement or any other Loan Document.

     

    Section
6.2. Survival of
Agreements.  All representations, warranties, covenants and
agreements of Borrowers herein shall survive the execution and delivery of this
Amendment and the performance hereof, and shall further survive until all of the
Obligations are paid in full.  All statements and agreements contained
in any certificate or instrument delivered by Borrowers hereunder or under the
Original Credit Agreement to Bank shall be deemed to constitute representations
and warranties by, or agreements and covenants of, Borrowers under this
Agreement and under the Original Credit Agreement.

     

    Section
6.3. Loan
Documents.  This Amendment is a Loan Document, and all
provisions in the Original Credit Agreement pertaining to Loan Documents apply
hereto and thereto.

     

    Section
6.4. Governing
Law.  This Amendment shall be governed by and construed in
accordance with the laws of the State of Texas and any applicable laws of the
United States of America in all respects, including construction, validity and
performance.

     

    Section
6.5. Counterparts;
Fax.  This Amendment may be separately executed in counterparts
and by the different parties hereto in separate counterparts, each of which when
so executed shall be deemed to constitute one and the same
Amendment.  This Amendment may be duly executed by facsimile or other
electronic transmission.

     

    THIS
AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

     

    THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

     

    
      	
              THE
      REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT
  BLANK

            

    

    

     

    
       

      
        
          

        

      

       

    

    IN
WITNESS WHEREOF, this Amendment is executed as of the date first above
written.

     

    GUARANTY
BANK                                                                M/I
FINANCIAL CORP.

    

    

    

    
      	
              By:

            	 
      	 
      	
              By:

            	 
      
	 
      	
              Ross
      Evans

            	 
      	
              J.
      Thomas Mason

            
	 
      	
              Vice
      President

            	 
      	
              Secretary

            

    

    

    

    M/I
HOMES, INC.

    

    

    

    
      	
              By:

            	 
      
	 
      	
              J.
      Thomas Mason

            
	 
      	
              Executive
      Vice President, General Counsel and
Secretarylyo8kexhibit4-2.htm

    
      Exhibit
4.2

      EXECUTION
VERSION 

    

    
      

    

     

    CREDIT
AGREEMENT

     

    Dated as
of December 20, 2007

    as
Amended and Restated as of April 30, 2008

     

    among

     

    LYONDELLBASELL
INDUSTRIES AF S.C.A.

    (f/k/a
BASELL AF S.C.A.),

    as the
Company,

     

    LYONDELL
CHEMICAL COMPANY

    (as
successor by merger to BIL ACQUISITION HOLDINGS LIMITED),

    as the
U.S. Borrower,

     

    BASELL
HOLDINGS B.V. and

    BASELL
FINANCE COMPANY B.V.,

    as the
Dutch Borrowers,

     

    BASELL
GERMANY HOLDINGS GmbH,

    as the
German Borrower,

     

    THE OTHER
NON-U.S. BORROWERS PARTY HERETO FROM TIME TO TIME,

     

    THE
SUBSIDIARY GUARANTORS PARTY HERETO FROM TIME TO TIME,

     

    CITIBANK,
N.A.,

    as
Primary Administrative Agent, U.S. Swing Line Lender and Collateral
Agent,

     

    CITIBANK
INTERNATIONAL plc,

    as
European Administrative Agent,

     

    CITIBANK,
N.A., LONDON BRANCH,

    as
European Swing Line Lender,

     

    ABN AMRO
BANK, N.V.

    as L/C
Issuer,

     

    THE OTHER
LENDERS PARTY HERETO FROM TIME TO TIME,

     

    GOLDMAN
SACHS CREDIT PARTNERS, L.P.,

    as
Syndication Agent,

    

    MERRILL
LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

    as
Co-Syndication Agent,

     

    ABN AMRO
INCORPORATED and

    UBS
SECURITIES LLC,

    as
Documentation Agents,

     

    MERRILL
LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

    as
Transaction Coordinator, and

     

    
      	
              CITIGROUP
      GLOBAL MARKETS INC.,

            	
              GOLDMAN
      SACHS CREDIT PARTNERS L.P.,

            
	
              GOLDMAN
      SACHS CREDIT PARTNERS L.P.,

            	
              MERRILL
      LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

            
	
              MERRILL
      LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

            	
              CITIGROUP
      GLOBAL MARKETS INC.,

            
	
              ABN
      AMRO INCORPORATED and

            	
              ABN
      AMRO INCORPORATED and

            
	
              UBS
      SECURITIES LLC,

            	
              UBS
      SECURITIES LLC,

            
	
              as
      Joint Lead Arrangers and Joint Bookrunners

            	
              as
      Joint Lead Arrangers and Joint Bookrunners

            
	
              with
      Respect to the Revolving Credit Facilities and the

            	
              with
      Respect to the Tranche B Term Loans

            
	
              Tranche
      A Term Loans

            	 
      

    

     

    Cahill
Gordon & Reindel llp

    80 Pine
Street

    New York,
New York  10005

     

    
      
        

      

    

    918580

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    
       

    

    TABLE OF
CONTENTS

     

     

    
      
        	 
      	 
      	
                Page

              
	 
      	 
      	 
      
	 
      	
                ARTICLE
      I.

              	 
      
	 
      	 
      	 
      
	 
      	
                Definitions
      and Accounting Terms

              	 
      
	 
      	 
      	 
      
	
                Section
      1.01.

              	
                Defined
      Terms

              	
                2

              
	
                Section
      1.02.

              	
                Other
      Interpretive Provisions

              	
                64

              
	
                Section
      1.03.

              	
                Accounting
      Terms

              	
                65

              
	
                Section
      1.04.

              	
                Rounding

              	
                65

              
	
                Section
      1.05.

              	
                References
      to Agreements, Laws, Etc.

              	
                65

              
	
                Section
      1.06.

              	
                Times
      of Day

              	
                65

              
	
                Section
      1.07.

              	
                Timing
      of Payment or Performance

              	
                66

              
	
                Section
      1.08.

              	
                Currency
      Equivalents Generally

              	
                66

              
	
                Section
      1.09.

              	
                Change
      of Currency

              	
                66

              
	
                Section
      1.10.

              	
                Borrowers’
      Agent

              	
                66

              
	
                Section
      1.11.

              	
                Luxembourg
      Terms

              	
                67

              
	 
	
                ARTICLE
      II.

              
	 
	
                THE
      COMMITMENTS AND CREDIT EXTENSIONS

              
	 
	
                Section
      2.01.

              	
                The
      Loans

              	
                68

              
	
                Section
      2.02.

              	
                Borrowings,
      Conversions and Continuations of Loans

              	
                69

              
	
                Section
      2.03.

              	
                Letters
      of Credit

              	
                71

              
	
                Section
      2.04.

              	
                Swing
      Line Loans

              	
                79

              
	
                Section
      2.05.

              	
                Prepayments

              	
                82

              
	
                Section
      2.06.

              	
                Termination
      or Reduction of Commitments

              	
                87

              
	
                Section
      2.07.

              	
                Repayment
      of Loans

              	
                87

              
	
                Section
      2.08.

              	
                Interest

              	
                91

              
	
                Section
      2.09.

              	
                Fees

              	
                91

              
	
                Section
      2.10.

              	
                Computation
      of Interest and Fees

              	
                92

              
	
                Section
      2.11.

              	
                Evidence
      of Indebtedness

              	
                92

              
	
                Section
      2.12.

              	
                Payments
      Generally

              	
                93

              
	
                Section
      2.13.

              	
                Sharing
      of Payments

              	
                95

              
	
                Section
      2.14.

              	
                Incremental
      Credit Extensions

              	
                95

              
	
                Section
      2.15.

              	
                Currency
      Equivalents

              	
                97

              
	 	 	 
	
                ARTICLE
      III.

              
	 
	
                TAXES,
      INCREASED COSTS PROTECTION AND ILLEGALITY

              
	 
	
                Section
      3.01.

              	
                Taxes

              	
                98

              
	
                Section
      3.02.

              	
                Illegality

              	
                101

              
	
                Section
      3.03.

              	
                Inability
      To Determine Rates

              	
                101

              
	
                Section
      3.04.

              	
                Increased
      Cost and Reduced Return; Capital Adequacy; Reserves on Eurocurrency Rate
      Loans

              	
                101

              
	
                Section
      3.05.

              	
                Funding
      Losses

              	
                103

              
	
                Section
      3.06.

              	
                Matters
      Applicable to All Requests for Compensation

              	
                103

              

      

       

      
        
          
          

        

        
          -i-

          
            

          

        

        
          
          

        

      

       

      
        	
              	 
      	
                Page

              
	 
      	 
      	 
      

      

      
        	
                Section
      3.07.

              	
                Replacement
      of Lenders Under Certain Circumstances

              	
                104

              
	
                Section
      3.08.

              	
                Survival

              	
                105

              
	
                Section
      3.09.

              	
                Calculation
      of Applicable Rate

              	
                105

              
	 	 	 
	
                ARTICLE
      IV.

              
	 
	
                CONDITIONS
      PRECEDENT TO CREDIT EXTENSIONS

              
	 
	
                Section
      4.01.

              	
                Conditions
      of Initial Credit Extension

              	
                106

              
	
                Section
      4.02.

              	
                Conditions
      to All Credit Extensions

              	
                108

              
	
                Section
      4.03.

              	
                Conditions
      Precedent to the Amendment Effective Date

              	
                108

              
	 	 	 
	
                ARTICLE
      V.

              
	 
	
                REPRESENTATIONS
      AND WARRANTIES

              
	 
	
                Section
      5.01.

              	
                Existence,
      Qualification and Power; Compliance with Laws

              	
                110

              
	
                Section
      5.02.

              	
                Authorization;
      No Contravention

              	
                110

              
	
                Section
      5.03.

              	
                Governmental
      Authorization; Other Consents

              	
                110

              
	
                Section
      5.04.

              	
                Binding
      Effect

              	
                111

              
	
                Section
      5.05.

              	
                Financial
      Statements; No Material Adverse Effect

              	
                111

              
	
                Section
      5.06.

              	
                Litigation

              	
                112

              
	
                Section
      5.07.

              	
                [Reserved]

              	
                112

              
	
                Section
      5.08.

              	
                Ownership
      of Property; Liens

              	
                112

              
	
                Section
      5.09.

              	
                Environmental
      Matters

              	
                112

              
	
                Section
      5.10.

              	
                Taxes

              	
                113

              
	
                Section
      5.11.

              	
                ERISA
      Compliance

              	
                114

              
	
                Section
      5.12.

              	
                Subsidiaries;
      Equity Interests

              	
                114

              
	
                Section
      5.13.

              	
                Margin
      Regulations; Investment Company Act

              	
                114

              
	
                Section
      5.14.

              	
                Disclosure

              	
                114

              
	
                Section
      5.15.

              	
                [Reserved]

              	
                115

              
	
                Section
      5.16.

              	
                Anti-Terrorism
      Laws

              	
                115

              
	
                Section
      5.17.

              	
                Intellectual
      Property; Licenses, Etc.

              	
                115

              
	
                Section
      5.18.

              	
                Solvency

              	
                115

              
	
                Section
      5.19.

              	
                Use
      of Proceeds

              	
                116

              
	
                Section
      5.20.

              	
                [Reserved]

              	
                116

              
	
                Section
      5.21.

              	
                Security
      Documents

              	
                116

              
	
                Section
      5.22.

              	
                Works
      Council

              	
                117

              
	 	 	 
	
                ARTICLE
      VI.

              
	 
	
                AFFIRMATIVE
      COVENANTS

              
	 
	
                Section
      6.01.

              	
                Financial
      Statements

              	
                117

              
	
                Section
      6.02.

              	
                Certificates;
      Other Information

              	
                119

              
	
                Section
      6.03.

              	
                Notices

              	
                119

              
	
                Section
      6.04.

              	
                Payment
      of Obligations

              	
                120

              
	
                Section
      6.05.

              	
                Preservation
      of Existence, Etc.

              	
                120

              
	
                Section
      6.06.

              	
                Maintenance
      of Properties

              	
                120

              
	
                Section
      6.07.

              	
                Maintenance
      of Insurance

              	
                120

              

      

       

      
        
          
          

        

        
          -ii-

          
            

          

        

        
          
          

        

      

       

      
        	
              	 
      	
                Page

              
	 
      	 
      	 
      

      

      
        	
                Section
      6.08.

              	
                Compliance
      with Laws

              	
                120

              
	
                Section
      6.09.

              	
                Compliance
      with Environmental Laws; Environmental Reports

              	
                121

              
	
                Section
      6.10.

              	
                Books
      and Records

              	
                121

              
	
                Section
      6.11.

              	
                Inspection
      Rights

              	
                121

              
	
                Section
      6.12.

              	
                Additional
      Collateral; Additional Guarantors

              	
                122

              
	
                Section
      6.13.

              	
                ERISA

              	
                124

              
	
                Section
      6.14.

              	
                Further
      Assurances and Post-Closing Conditions

              	
                124

              
	
                Section
      6.15.

              	
                Use
      of Proceeds

              	
                126

              
	
                Section
      6.16.

              	
                [Reserved]

              	
                126

              
	
                Section
      6.17.

              	
                Know
      Your Customer Requests

              	
                126

              
	 	 	 
	
                ARTICLE
      VII.

              
	 
	
                NEGATIVE
      COVENANTS

              
	 
	
                Section
      7.01.

              	
                Liens

              	
                127

              
	
                Section
      7.02.

              	
                Investments

              	
                130

              
	
                Section
      7.03.

              	
                Indebtedness

              	
                133

              
	
                Section
      7.04.

              	
                Fundamental
      Changes

              	
                136

              
	
                Section
      7.05.

              	
                Dispositions

              	
                138

              
	
                Section
      7.06.

              	
                Restricted
      Payments

              	
                139

              
	
                Section
      7.07.

              	
                Change
      in Nature of Business

              	
                141

              
	
                Section
      7.08.

              	
                Transactions
      with Affiliates

              	
                141

              
	
                Section
      7.09.

              	
                Burdensome
      Agreements

              	
                143

              
	
                Section
      7.10.

              	
                Anti-Money
      Laundering

              	
                144

              
	
                Section
      7.11.

              	
                Financial
      Covenants

              	
                144

              
	
                Section
      7.12.

              	
                Accounting
      Changes

              	
                145

              
	
                Section
      7.13.

              	
                Prepayments,
      Etc. of Indebtedness

              	
                145

              
	
                Section
      7.14.

              	
                Holding
      Company

              	
                146

              
	 	 	 
	
                ARTICLE
      VIII.

              
	 
	
                EVENTS
      OF DEFAULT AND REMEDIES

              
	 
	
                Section
      8.01.

              	
                Events
      of Default

              	
                146

              
	
                Section
      8.02.

              	
                Remedies
      upon Event of Default

              	
                149

              
	
                Section
      8.03.

              	
                Application
      of Funds

              	
                150

              
	
                Section
      8.04.

              	
                Right
      To Cure

              	
                151

              
	
                Section
      8.05.

              	
                CAM
      Exchange

              	
                151

              
	 	 	 
	
                ARTICLE
      IX.

              
	 
	
                ADMINISTRATIVE
      AGENT AND OTHER AGENTS

              
	 
	
                Section
      9.01.

              	
                Appointment
      and Authorization of Agents

              	
                152

              
	
                Section
      9.02.

              	
                Delegation
      of Duties

              	
                154

              
	
                Section
      9.03.

              	
                Liability
      of Agents

              	
                154

              
	
                Section
      9.04.

              	
                Reliance
      by Agents

              	
                154

              
	
                Section
      9.05.

              	
                Notice
      of Default

              	
                155

              
	
                Section
      9.06.

              	
                Credit
      Decision; Disclosure of Information by Agents

              	
                155

              

      

       

      
        
          
          

        

        
          -iii-

          
            

          

        

        
          
          

        

      

       

      
        	
              	 
      	
                Page

              
	 
      	 
      	 
      

      

      
        	
                Section
      9.07.

              	
                Indemnification
      of Agents

              	
                156

              
	
                Section
      9.08.

              	
                Agents
      in Their Individual Capacities

              	
                156

              
	
                Section
      9.09.

              	
                Successor
      Agents

              	
                157

              
	
                Section
      9.10.

              	
                Administrative
      Agent May File Proofs of Claim

              	
                157

              
	
                Section
      9.11.

              	
                Collateral
      and Guaranty Matters

              	
                158

              
	
                Section
      9.12.

              	
                Other
      Agents; Arrangers and Managers

              	
                161

              
	
                Section
      9.13.

              	
                Appointment
      of Supplemental Agents

              	
                161

              
	
                Section
      9.14.

              	
                Withholding
      Tax

              	
                162

              
	 	 	 
	
                ARTICLE
      X.

              
	 
	
                MISCELLANEOUS

              
	 
	
                Section
      10.01.

              	
                Amendments,
      Etc.

              	
                163

              
	
                Section
      10.02.

              	
                Notices
      and Other Communications; Facsimile Copies

              	
                165

              
	
                Section
      10.03.

              	
                No
      Waiver; Cumulative Remedies

              	
                166

              
	
                Section
      10.04.

              	
                Attorney
      Costs and Expenses

              	
                167

              
	
                Section
      10.05.

              	
                Indemnification
      by the Borrowers

              	
                167

              
	
                Section
      10.06.

              	
                Payments
      Set Aside

              	
                168

              
	
                Section
      10.07.

              	
                Successors
      and Assigns

              	
                168

              
	
                Section
      10.08.

              	
                Confidentiality

              	
                172

              
	
                Section
      10.09.

              	
                Setoff

              	
                173

              
	
                Section
      10.10.

              	
                Interest
      Rate Limitation

              	
                174

              
	
                Section
      10.11.

              	
                Counterparts

              	
                174

              
	
                Section
      10.12.

              	
                Integration

              	
                174

              
	
                Section
      10.13.

              	
                Survival
      of Representations and Warranties

              	
                174

              
	
                Section
      10.14.

              	
                Severability

              	
                175

              
	
                Section
      10.15.

              	
                GOVERNING
      LAW

              	
                175

              
	
                Section
      10.16.

              	
                WAIVER
      OF RIGHT TO TRIAL BY JURY

              	
                175

              
	
                Section
      10.17.

              	
                Binding
      Effect

              	
                175

              
	
                Section
      10.18.

              	
                Judgment
      Currency

              	
                176

              
	
                Section
      10.19.

              	
                Lender
      Action

              	
                176

              
	
                Section
      10.20.

              	
                USA
      Patriot Act

              	
                176

              
	
                Section
      10.21.

              	
                Agent
      for Service of Process

              	
                177

              
	
                Section
      10.22.

              	
                No
      Advisory or Fiduciary Responsibility

              	
                177

              
	
                Section
      10.23.

              	
                Acknowledgments
      Relating to the Amendment Effective Date

              	
                177

              
	 	 	 
	
                ARTICLE
      XI.

              
	 
	
                GUARANTY

              
	 
	
                Section
      11.01.

              	
                The
      Guaranty

              	
                178

              
	
                Section
      11.02.

              	
                Obligations
      Unconditional

              	
                178

              
	
                Section
      11.03.

              	
                Reinstatement

              	
                179

              
	
                Section
      11.04.

              	
                Subrogation;
      Subordination

              	
                179

              
	
                Section
      11.05.

              	
                Remedies

              	
                179

              
	
                Section
      11.06.

              	
                Instrument
      for the Payment of Money

              	
                180

              
	
                Section
      11.07.

              	
                Continuing
      Guaranty

              	
                180

              
	
                Section
      11.08.

              	
                General
      Limitation on Guarantee Obligations

              	
                180

              
	
                Section
      11.09.

              	
                Release
      of Guarantors

              	
                180

              

      

       

      
        
          
          

        

        
          -iv-

          
            

          

        

        
          
          

        

      

       

      
        	
              	 
      	
                Page

              
	 
      	 
      	 
      

      

      
        	
                Section
      11.10.

              	
                Right
      of Contribution

              	
                180

              
	
                Section
      11.11.

              	
                Certain
      Dutch Matters

              	
                181

              
	
                Section
      11.12.

              	
                Guaranty
      Limitations

              	
                181

              
	
                Section
      11.13.

              	
                Guaranty
      Limitations in Respect of Millennium Chemicals Inc

              	
                185

              
	
                Section
      11.14.

              	
                Non-U.S.
      Guarantee Limitations

              	
                185

              
	
                Section
      11.15.

              	
                Limitation
      on Guarantee by Additional Guarantors

              	
                185

              
	 	 	 
	
                ARTICLE
      XII.

              
	 
	
                FOREIGN
      CURRENCY PARTICIPATIONS

              
	 
	
                Section
      12.01.

              	
                U.S./Dutch
      Revolving Credit Loans; Intra-Lender Issues

              	
                185

              
	
                Section
      12.02.

              	
                Settlement
      Procedure for Specified Foreign Currency Participations

              	
                186

              
	
                Section
      12.03.

              	
                Obligations
      Irrevocable

              	
                188

              
	
                Section
      12.04.

              	
                Recovery
      or Avoidance of Payments

              	
                188

              
	
                Section
      12.05.

              	
                Indemnification
      by Lenders

              	
                189

              
	
                Section
      12.06.

              	
                Specified
      Foreign Currency Loan Participation Fee

              	
                189

              

      

       

    

    SCHEDULES

     

    
      	
              1.01A

            	
              Commitments
      as of the Amendment Effective Date

            
	
              1.01B

            	
              Unrestricted
      Subsidiaries

            
	
              1.01C

            	
              Mandatory
      Cost Formulae

            
	
              1.01E

            	
              Existing
      Letters of Credit

            
	
              1.01F

            	
              Mortgaged
      Properties

            
	
              1.01G

            	
              Certain
      Security Interests and Guarantees

            
	
              1.01H

            	
              Guarantors

            
	
              1.01I

            	
              Agreed
      Security Principles

            
	
              1.01J

            	
              Security
      Agreements

            
	
              1.01K

            	
              Excluded
      Collateral

            
	
              1.01L

            	
              Swap
      Contracts

            
	
              4.01(a)(v)(B)

            	
              Local
      Counsel

            
	
              4.01(a)(xi)

            	
              Non-U.S.
      Documentation

            
	
              5.05

            	
              Undisclosed
      Liabilities

            
	
              5.08

            	
              Ownership
      of Property

            
	
              5.09

            	
              Environmental
      Matters

            
	
              5.12

            	
              Subsidiaries
      and Other Equity Investments

            
	
              6.14(a)

            	
              Certain
      Collateral Documents

            
	
              7.01(b)

            	
              Existing
      Liens

            
	
              7.02(e)

            	
              Existing
      Investments

            
	
              7.03(b)

            	
              Existing
      Indebtedness

            
	
              7.05(k)

            	
              Dispositions

            
	
              7.08

            	
              Existing
      Transactions with Affiliates

            
	
              7.09

            	
              Existing
      Contractual Obligations

            
	
              10.02

            	
              Administrative
      Agent’s Office, Certain Addresses for Notices

            
	
              EXHIBITS

            
	
              A

            	
              Form
      of Committed Loan Notice

            
	
              B

            	
              Form
      of Swing Line Loan Notice

            

    

     

    
      
        
        

      

      
        -v-

        
          

        

      

      
        
        

      

    

     

    
      	
              C-1

            	
              Form
      of Dutch Tranche A Dollar Term Note

            
	
              C-2

            	
              Form
      of U.S. Tranche A Dollar Term Note

            
	
              C-3-I

            	
              Form
      of U.S. Tranche B-1 Dollar Term Note

            
	
              C-3-II

            	
              Form
      of U.S. Tranche B-2 Dollar Term Note

            
	
              C-3-III

            	
              Form
      of U.S. Tranche B-3 Dollar Term Note

            
	
              C-4-I

            	
              Form
      of German Tranche B-1 Euro Term Note

            
	
              C-4-II

            	
              Form
      of German Tranche B-2 Euro Term Note

            
	
              C-4-III

            	
              Form
      of German Tranche B-3 Euro Term Note

            
	
              C-5

            	
              Form
      of Revolving Credit Note

            
	
              C-6

            	
              Form
      of European Swing Line Note

            
	
              C-7

            	
              Form
      of U.S. Swing Line Note

            
	
              D

            	
              Form
      of Compliance Certificate

            
	
              E

            	
              Form
      of Assignment and Assumption

            
	
              F

            	
              Form
      of U.S. Security Agreement

            
	
              G-1

            	
              Form
      of Perfection Certificate

            
	
              G-2

            	
              Form
      of Perfection Certificate Supplement

            
	
              H

            	
              Form
      of Opinion of Skadden, Arps, Slate, Meagher & Flom
  LLP

            
	
              I

            	
              Form
      of Mortgage

            
	
              J

            	
              Form
      of Foreign Lender Tax Certificate

            

    

    

      
        
           

        

        
          -vi-

          
            

          

        

        
           

        

      

    

     

    CREDIT
AGREEMENT

     

    This
CREDIT AGREEMENT (this “Agreement”), dated as of
December 20, 2007 and amended and restated as of April 30, 2008, is entered
into among LYONDELLBASELL INDUSTRIES AF S.C.A (f/k/a BASELL AF S.C.A.), a
company existing under the laws of the Grand Duchy of Luxembourg (together with
its successors and assigns, the “Company”), LYONDELL CHEMICAL
COMPANY (as successor by merger to BIL ACQUISITION HOLDINGS LIMITED), a Delaware
corporation and Wholly Owned Subsidiary of the Company (“Lyondell” or the “U.S. Borrower”), BASELL
HOLDINGS B.V., a Dutch corporation limited by shares (“Basell Holdings”), BASELL
FINANCE COMPANY B.V., a Dutch corporation limited by shares (“Basell Finance” and, together
with Basell Holdings, the “Dutch Borrowers”), and BASELL
GERMANY HOLDINGS GmbH, a corporation organized under the laws of Germany (the
“German Borrower” and, together with
the Dutch Borrowers, the “Non-U.S. Borrowers” and,
together with the Dutch Borrowers and the U.S. Borrower, the “Borrowers”), the other
Non-U.S. Borrowers party hereto from time to time, the Subsidiary Guarantors
party hereto from time to time, CITIBANK, N.A., as Primary Administrative Agent,
U.S. Swing Line Lender and Collateral Agent, CITIBANK, N.A., LONDON BRANCH, as
European Swing Line Lender, CITIBANK INTERNATIONAL plc, as European
Administrative Agent, ABN AMRO BANK, N.V., as L/C Issuer (the “L/C Issuer”), and each lender
party hereto from time to time (collectively, the “Lenders” and individually, a
“Lender”).

     

    PRELIMINARY
STATEMENTS

     

    The
Company, the other Loan Parties, the lenders party thereto as of the Amendment
Effective Date, Citibank, N.A. as administrative agent, U.S. swingline lender
and collateral agent, Citibank, N.A., London Branch, as European swingline
lender, and ABN AMRO Bank, N.V., as L/C issuer, are party to that certain Credit
Agreement, dated as of December 20, 2007 (the “Original Credit Agreement”),
pursuant to which the lenders thereunder made certain loans and other extensions
of credit to the Borrowers on the Original Closing Date.

     

    The
Administrative Agent (as defined in the Original Credit Agreement) and the Loan
Parties have determined pursuant to Section 10.01 of the Original Credit
Agreement (including the second paragraph thereof) to amend and restate the
Original Credit Agreement in its entirety in order to make certain modifications
to the Original Credit Agreement, in each case on and subject to the terms and
conditions set forth herein to read as set forth in this Agreement, and it has
been agreed by them that the Loans and any Letters of Credit outstanding as of
the Amendment Effective Date and other “Obligations” under the Original Credit
Agreement (including indemnities) shall be governed by and deemed to be
outstanding under this Agreement with the intent that the terms of this
Agreement shall supersede the terms of the Original Credit Agreement (which
shall hereafter have no further effect upon the parties thereto other than with
respect to any action, event, representation, warranty or covenant occurring,
made or applying prior to the Amendment Effective Date), and all references to
the Original Credit Agreement in any Loan Document or other document or
instrument delivered in connection herewith or therewith shall be deemed to
refer to this Agreement and the provisions hereof; provided that (1) the grants
of security interests, Mortgages and Liens under and pursuant to the Loan
Documents shall continue unaltered to secure, guarantee, support and otherwise
benefit the Obligations of the Borrowers and the other Loan Parties under this
Agreement and each other Loan Document shall continue in full force and effect
in accordance with its terms except as expressly amended thereby or hereby, and
the parties hereto hereby ratify and confirm the terms thereof as being in full
force and effect and unaltered by this Agreement except as expressly amended
thereby or hereby, (2) it is agreed and understood that this Agreement does not
constitute a novation, satisfaction, payment or reborrowing of any Obligation
under the Original Credit Agreement or any other Loan Document except as
expressly modified by this Agreement, nor does it operate as a waiver of any
right, power or remedy of any Lender or Agent under any Loan Document and (3)
Section 9.11(b) of the Original Credit Agreement continues in full force and
effect and shall extend to all obligations of the Loan Parties under the
Original Credit Agreement as amended by this Agreement (other than, in relation
to the applicability of the Collateral Documents governed by German, French,
Italian and Spanish law, any amount of Obligations representing the difference
in the amount of interest on the Loans based on the Applicable Rate set forth
herein and the Applicable Rate set forth in the Original Credit
Agreement).

     

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

     

     

    In
consideration of the mutual covenants and agreements herein contained, the
parties hereto covenant and agree to amend and restate the Original Credit
Agreement, and the Original Credit Agreement is hereby amended and restated in
its entirety, as follows:

     

    ARTICLE
I.

     

    Definitions and Accounting
Terms

     

    Section
1.01.         Defined
Terms

     

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

     

    “2010 Debentures” means the
$100,000,000 aggregate principal amount of 101⁄4% Debentures due 2010 of
Lyondell.

     

    “2015 Notes” means,
collectively, the $615,000,000 aggregate principal amount of 83⁄8% Senior Notes
due 2015 of the Company and €500,000,000 aggregate principal amount of 83⁄8%
Senior Notes due 2015 of the Company.

     

    “2027 Notes” means the
$300,000,000 aggregate principal amount of the 8.10% guaranteed notes due March
15, 2027 issued by Basell Finance (formerly known as Montell Finance Company
B.V.).

     

    “ABL Intercreditor Agreement” means
the intercreditor agreement, dated as of the Original Closing Date, between the
Collateral Agent, Citibank, N.A (in its capacities as agent for the secured
parties under the ABF Inventory Facility and as agent for the purchasers under
the ABF Receivables Facility), the Company, the U.S. Borrower and the other
parties thereto from time to time, as amended, amended and restated,
supplemented or otherwise modified from time to time.

     

    “Access Group Revolving Credit
Facility” means the $750,000,000 aggregate principal amount revolving
credit facility dated as of March 27, 2008 among the Company, Lyondell and
Basell Finance as borrowers and Access Industries Holdings LLC as
lender.

     

    “Acquisition” means the merger
of BIL Acquisition into Lyondell pursuant to the Acquisition
Agreement.

     

    “Acquisition Agreement” means
that certain Agreement and Plan of Merger, dated as of July 16, 2007, by and
among the Company, BIL Acquisition and Lyondell.

     

    “Additional Lender” has the
meaning set forth in Section 2.14(c).

     

    “Administrative Agent” means
Citibank, N.A. (the “Primary
Administrative Agent”), in its capacity as administrative agent under any
of the Loan Documents, or any successor administrative agent; it being
understood that Citibank, N.A. may designate any of its Affiliates, including
Citicorp International Limited, as administrative agent for Loans denominated in
any Alternative Currency, and that such Affiliate shall be considered an
Administrative Agent for all purposes hereunder.  The Primary
Administrative Agent appointed Citibank International plc, as Administrative
Agent (in such capacity, the “European Administrative
Agent”) solely with respect to Sections 2.02, 2.05, 2.07(c) and (d),
2.08, 2.11, 2.12 and 10.07 and solely in respect of the Dutch Tranche A Dollar
Term Loans and the German Tranche B Euro Term Loans as notified to the
Borrowers’ Agent by letter dated December 24, 2007.

     

    
      
        
           

        

        
          -2-

          
            

          

        

        
           

        

      

    

    

    

     

    “Administrative Agent’s Office”
means, with respect to any currency, the Administrative Agent’s address and, as
appropriate, account as set forth on Schedule 10.02 with
respect to such currency, or such other address or account with respect to such
currency as the Administrative Agent may from time to time specify (upon
reasonable written notice) to the Borrowers’ Agent and the Lenders.

     

    “Administrative Questionnaire”
means an Administrative Questionnaire in a form supplied by the Administrative
Agent.

     

    “Affiliate” means, with respect
to any specified Person, any other Person that directly or indirectly through
one or more intermediaries, controls, or is controlled by, or is under common
control with, such specified Person.  The term “control” means the
possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a Person, whether through the
ownership of voting securities, by contract or otherwise; “controlling” and
“controlled” have meanings correlative of the foregoing; provided, however, that none of the
Arrangers or their respective Affiliates shall be deemed an Affiliate of the
Company.

     

    “Agent-Related Persons” means
the Agents, together with their respective Affiliates, and the officers,
directors, partners, employees, agents and attorneys-in-fact of such Persons and
Affiliates.

     

    “Agents” means, collectively,
the Administrative Agent, the Collateral Agent, the Documentation Agents, the
Syndication Agent and the Supplemental Agents (if any).

     

    “Aggregate Commitments” means
at any time the aggregate Commitments of all the Lenders at such
time.

     

    “Agreed Security Principles”
has the meaning set forth in Schedule 1.01I.

     

    “Agreement” means, on any date,
the Original Credit Agreement as amended and restated hereby and as the same may
thereafter from time to time be further amended, supplemented, amended and
restated or otherwise modified and in effect on such date in accordance with the
terms hereof.

     

    “Alternative Currency” means
either Euros or Sterling.

     

    “Amendment Effective Date”
means the date on which the conditions precedent to the Amendment Effective Date
are satisfied and this Agreement becomes effective, in each case, in accordance
with Section 4.03.

     

    “Anti-Terrorism Laws”
means:

     

    (a)           the
Executive Order No. 13224 of September 23, 2001, Blocking Property and
Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support
Terrorism (the “Executive
Order”);

     

    
      
        
           

        

        
          -3-

          
            

          

        

        
           

        

      

    

    

    

     

    (b)           the
Uniting and Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56 (commonly known
as the USA Patriot Act);

     

    (c)           the
Money Laundering Control Act of 1986, Public Law 99-570;

     

    (d)           the
International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., and the
Trading with the Enemy Act, 50 U.S.C. App. §§ 1 et seq., and any Executive Order
or regulation promulgated thereunder and administered by the Office of Foreign
Assets Control (“OFAC”)
of the U.S. Department of the Treasury; and

     

    (e)           any
similar law enacted in the United States of America subsequent to the date of
this Agreement.

     

    “Applicable Amount” means, at
any time (the “Reference
Time”), an amount determined on a cumulative basis equal to, without
duplication:

     

    (a)           50%
of the cumulative Consolidated Net Income, or if cumulative Consolidated Net
Income shall be a loss, minus 100% of such
loss, of the Company (excluding from Consolidated Net Income, for this purpose
only, any amount that otherwise increased the Applicable Amount pursuant to
clauses (b), (c) or (d) below) earned from January 1, 2008 through the last day
of the last fiscal quarter or Fiscal Year for which financial statements have
been delivered pursuant to clause (a) or (b) of Section 6.01 at the Reference
Time (treating such period as a single accounting period); provided, however, that for purposes
of this clause (a) only, any amounts that would constitute Consolidated Net
Income but which have been used to make an Investment permitted by clauses (i)
or (ii) of Section 7.02(n) shall be excluded from Consolidated Net Income, plus

     

    (b)           100%
of the aggregate net cash proceeds received by the Company or its Restricted
Subsidiaries after the Original Closing Date and on or prior to the Reference
Time from any Person (other than a Subsidiary of the Company) from any
contribution (in each case other than pursuant to Sections 7.02(g)(A) and (B),
7.06(d) and 8.04) in respect of Qualified Equity Interests or from the issuance
or sale (in each case other than pursuant to Sections 7.02(g)(A) and (B),
7.06(d) and 8.04) after the Original Closing Date and on or prior to the
Reference Time to any Person (other than a Subsidiary of the Company) of
Qualified Equity Interests of the Company or debt securities and Disqualified
Equity Interests of the Company or its Restricted Subsidiaries that are
convertible into or exchangeable for Qualified Equity Interests of the Company,
but only when and to the extent such debt securities or Disqualified Equity
Interests are converted into or exchanged for Qualified Equity Interests of the
Company, plus

     

    (c)           100%
of the fair market value of property other than cash (but including Equity
Interests) of Persons engaged in a Permitted Business or property used or useful
in a Permitted Business received by the Company or its Restricted Subsidiaries
after the Original Closing Date and on or prior to the Reference Time from any
Person (other than a Subsidiary of the Company) consisting of any contribution
(in each case other than pursuant to Sections 7.02(g)(A) and (B), 7.06(d) and
8.04) in respect of Qualified Equity Interests or as consideration for the
issuance or sale (in each case other than pursuant to Sections 7.02(g)(A) and
(B), 7.06(d) and 8.04) after the Original Closing Date and on or prior to the
Reference Time to any Person (other than a Subsidiary of the Company) of
Qualified Equity Interests of the Company or debt securities and Disqualified
Equity Interests of the Company or its Restricted Subsidiaries that are
convertible into or exchangeable for Qualified Equity Interests of the Company,
but only when and to the extent such debt securities or Disqualified Equity
Interests are converted into or exchanged for Qualified Equity Interests of the
Company, plus

     

    
      
        
           

        

        
          -4-

          
            

          

        

        
           

        

      

    

     

    (d)           100%
of the amounts of the type described in clauses (i) or (ii) of Section 7.02(n),
but only to the extent such Net Proceeds are not utilized in accordance
therewith, minus

     

    (e)           the
Applicable ECF Percentage of any amount included under clause (a) above (but
only to the extent the payment is determined and paid by reference to the
Applicable Amount) (i) used to make payments other than principal and interest
on Indebtedness after the Original Closing Date and prior to the Reference Time
reducing Excess Cash Flow pursuant to clause (b)(iii) of the definition thereof
or (ii) deducted from Excess Cash Flow pursuant to clause (b)(vii) of the
definition thereof, minus

     

    (f)           any
amount included under clauses (a) – (d) above used to make Investments
pursuant to Section 7.02(k) after the Original Closing Date and prior to the
Reference Time, minus

     

    (g)           any
amount included under clauses (a) – (d) above (but only to the extent the
payment is determined and paid by reference to the Applicable Amount) used to
pay dividends or make distributions pursuant to Section 7.06(n) after the
Original Closing Date and prior to the Reference Time, minus

     

    (h)           any
amount included under clauses (a) – (d) above (but only to the extent the
payment is determined and paid by reference to the Applicable Amount) used to
make Capital Expenditures pursuant to Section 7.11(c) after the Original Closing
Date and prior to the Reference Time, minus

     

    (i)           any
amount included under clauses (a) – (d) above (but only to the extent the
payment is determined and paid by reference to the Applicable Amount) used to
make payments in respect of Junior Financings pursuant to Section 7.13(a) after
the Original Closing Date and prior to the Reference Time.

     

    “Applicable Amount Availability
Condition” means, with respect to any proposed use of the Applicable
Amount, that, on a Pro Forma Basis after giving effect to the proposed
transaction, (x) there shall not exist or be continuing any Event of Default and
(y) the Consolidated Fixed Charge Coverage Ratio shall not be less than
2.00:1.00.

     

    “Applicable ECF Percentage”
means, in respect of Excess Cash Flow attributable to a Fiscal Year, (a) 50% if
the First Lien Senior Secured Leverage Ratio as of the last day of such Fiscal
Year is greater than or equal to 1.75 to 1.00, (b) 25% if the First Lien Senior
Secured Leverage Ratio as of the last day of such Fiscal Year is less than 1.75
to 1.00 but greater than or equal to 1.00 to 1.00 and (c) 0% if the First
Lien Senior Secured Leverage Ratio as of the last day of such Fiscal Year is
less than 1.00 to 1.00.

     

    “Applicable Period” has the
meaning set forth in Section 3.09.

     

    “Applicable Premium” means, as
of any date upon which a prepayment is payable pursuant to Section 2.05(a)(iii), or Section 2.05(b)(viii), the present value
at such date, computed using a discount rate equal to the Treasury Rate plus 0.50%, of all
interest that would accrue (assuming the Borrowers’ Agent had selected
consecutive three-month Interest Periods) on the applicable Repaid Tranche B-3
Loans from such date to the date that is two years following the Amendment
Effective Date, such interest computed using the Eurocurrency Rate for an
Interest Period of three months plus the Applicable
Rate in effect on such date.

     

    
      
        
           

        

        
          -5-

          
            

          

        

        
           

        

      

    

     

    “Applicable Rate” means a
percentage per annum equal to:

     

    (a)           with
respect to Tranche A Term Loans, (i) from and after the Amendment Effective Date
until the first full fiscal quarter commencing on or after the date that is six
months after the Original Closing Date, (A) for Eurocurrency Rate Loans, 3.50%
and (B) for Base Rate Loans, 2.50%, and (ii) thereafter, from time to time, the
following percentages, based upon the First Lien Senior Secured Leverage Ratio
as set forth in the then most recent Compliance Certificate received by the
Administrative Agent pursuant to Section 6.02(a):

     

    
      	
              
                First
      Lien Senior

                Secured
      Leverage

                Ratio

              

            	 	
              
                Eurocurrency

                Rate
      Loans

              

            	 	
              
                Base
      Rate Loans

              

            
	
              >1.625:1

            	 	
              3.50%

            	 	
              2.50%

            
	
              ≤1.625:1

            	 	
              3.25%

            	 	
              2.25%

            

    

    

    (b)           with
respect to U.S. Tranche B Dollar Term Loans, (i) from and after the
Amendment Effective Date until the first full fiscal quarter commencing on or
after the date that is six months after the Original Closing Date, (A) for
Eurocurrency Rate Loans, 3.75% and (B) for Base Rate Loans, 2.75% and
(ii) thereafter, from time to time, the following percentages, based upon
the First Lien Senior Secured Leverage Ratio as set forth in the then most
recent Compliance Certificate received by the Administrative Agent pursuant to
Section 6.02(a):

     

    
      	
              
                First
      Lien Senior

                Secured
      Leverage

                Ratio

              

            	 	
              
                Eurocurrency

                Rate
      Loans

              

            	 	
              
                Base
      Rate Loans

              

            
	
              >1.625:1

            	 	
              3.75%

            	 	
              2.75%

            
	
              ≤1.625:1

            	 	
              3.50%

            	 	
              2.50%

            

    

    

    (c)           with
respect to German Tranche B Euro Term Loans, (i) from and after the Amendment
Effective Date until the first full fiscal quarter commencing on or after the
date that is six months after the Original Closing Date, 3.75%, and
(ii) thereafter, from time to time, the following percentages, based upon
the First Lien Senior Secured Leverage Ratio as set forth in the then most
recent Compliance Certificate received by the Administrative Agent pursuant to
Section 6.02(a):

     

    
      	
              
                First
      Lien Senior Secured Leverage Ratio

              

            	 	
              
                Eurocurrency

                Rate
      Loans

              

            
	
              >1.625:1

            	 	
              3.75%

            
	
              ≤1.625:1

            	 	
              3.50%

            

    

    

    (d)           with
respect to Revolving Credit Loans, unused Revolving Credit Commitments and
Letter of Credit fees, (i) from and after the Amendment Effective Date until the
first full fiscal quarter commencing on or after the date that is six months
after the Original Closing Date, (A) for Eurocurrency Rate Loans and Letter of
Credit Fees, 3.50%, (B) for Base Rate Loans, 2.50%, and (C) for unused
commitment fees, 1.25%, and (ii) thereafter, from time to time, the following
percentages per annum, based upon the First Lien Senior Secured Leverage Ratio
as set forth in the most recent Compliance Certificate received by the
Administrative Agent pursuant to Section 6.02(a):

     

    
      
        
           

        

        
          -6-

          
            

          

        

        
           

        

      

    

     

    
      	
              
                First
      Lien Senior

                Secured
      Leverage Ratio

              

            	 	
              
                Eurocurrency

                Rate
      Loans and

                Letter

                of
      Credit Fees

              

            	 	
              
                Base
      Rate Loans

              

            	 	
              
                Unused

                Commitment

                Fees

              

            
	
              >1.625:1

            	 	
              3.50%

            	 	
              2.50%

            	 	
              1.250%

            
	
              ≤1.625:1 but
      >1.000:1

            	 	
              3.25%

            	 	
              2.25%

            	 	
              1.125%

            
	
              ≤1.000:1

            	 	
              3.00%

            	 	
              2.00%

            	 	
              1.000%

            

    

    

    Any
increase or decrease in the Applicable Rate resulting from a change in the First
Lien Secured Senior Leverage Ratio shall become effective as of the first
Business Day immediately following the date a Compliance Certificate is
delivered pursuant to Section 6.02(a); provided that, at the option
of the Administrative Agent, the highest Applicable Rate shall apply (x) as of
the first Business Day after the date on which a Compliance Certificate was
required to have been delivered but was not delivered, and shall continue to so
apply to and including the date on which such Compliance Certificate is so
delivered (and thereafter the Applicable Rate otherwise determined in accordance
with this definition shall apply) and (y) as of the first Business Day after an
Event of Default under Section 8.01(a) shall have occurred and be continuing,
and shall continue to so apply to but excluding the date on which such Event of
Default is cured or waived (and thereafter the Applicable Rate otherwise
determined in accordance with this definition shall apply).

     

    “Appropriate Lender” means, at
any time, (a) with respect to Loans of any Class, the Lenders of such Class, (b)
with respect to Letters of Credit, (i) the relevant L/C Issuers and (ii) with
respect to Primary Letters of Credit, the Primary Revolving Credit Lenders and
(iii) with respect to Dutch Letters of Credit, the Dutch Revolving Credit
Lenders and (c) with respect to the Swing Line Facility, (i) the relevant Swing
Line Lender and (ii) if any Swing Line Loans are outstanding, the Primary
Revolving Credit Lenders.

     

    “Approved Bank” has the meaning
set forth in clause (c) of the definition of “Cash Equivalents.”

     

    “Approved Fund” means any Fund
that is administered, advised or managed by (a) a Lender, (b) an Affiliate of a
Lender or (c) an entity or an Affiliate of an entity that administers, advises
or manages a Lender.

     

    “Arrangers” means Citigroup
Global Markets Inc., Goldman Sachs Credit Partners, L.P., Merrill Lynch, Pierce,
Fenner & Smith Incorporated, ABN AMRO Incorporated and UBS Securities
LLC.

     

    “Asset Backed Credit Facility”
means (i) subject to the limitations of Section 7.03(o), the asset based
revolving credit agreement dated as of the Original Closing Date among Lyondell
Chemical Company, Equistar Chemicals, LP, Houston Refining LP, Basell USA
Inc. and certain Subsidiaries of the Company party thereto as co-borrowers
from time to time thereunder, the lenders and agents party thereto and Citibank,
N.A., as administrative agent and collateral agent (the “ABF Inventory Facility”), (ii)
the receivables securitization facility established pursuant to the Receivables
Sale Agreement dated as of the Original Closing Date among Lyondell Chemical
Company and the other sellers party thereto, as sellers, LyondellBasell
Receivables I, LLC, as buyer, and Lyondell Chemical Company, as buyer’s
servicer, and the Receivables Purchase Agreement dated as of the Original
Closing Date among LyondellBasell Receivables I, LLC as seller, Lyondell
Chemical Company, as servicer, the purchasers party thereto (the “ABF Receivables Facility”),
(iii) any credit facility provided on the basis of the value of inventory,
accounts receivable or other current assets (and related documents) or similar
instrument, including any similar credit support agreements or guarantees
incurred from time to time; and (iv) any Permitted Refinancing of any of the
foregoing.

     

    
      
        
           

        

        
          -7-

          
            

          

        

        
           

        

      

    

     

    “Assignee” has the meaning set
forth in Section 10.07(a).

     

    “Assignment and Assumption”
means an Assignment and Assumption substantially in the form of Exhibit E.

     

    “Assignment Taxes” has the
meaning set forth in Section 3.01(b).

     

    “Attorney Costs” means and
includes all reasonable fees, reasonable out-of-pocket expenses and
disbursements of Cahill Gordon & Reindel llp, Allen & Overy LLP and
(without duplication) a single external local counsel to the Arrangers in each
jurisdiction reasonably determined by the Administrative Agent.

     

    “Attributable Indebtedness”
means, on any date, in respect of any Capitalized Lease of any Person, the
capitalized amount thereof of any liability that would be required to appear on
a balance sheet of such Person prepared as of such date in accordance with
GAAP.

     

    “Audited Financial Statements”
means the audited consolidated financial statements of (i) the Company’s
predecessor, Basell N.V. (now Basell Holdings B.V.), for the fiscal year ended
December 31, 2004 and the seven-month period ended July 31, 2005 and (ii) the
Company and its Subsidiaries, for the period beginning April 20, 2005 and
ended December 31, 2005 and the fiscal year ended December 31,
2006.

     

    “Average Brent Crude Oil Price”
means, for any fiscal quarter, the average specified price per barrel of Brent
blend crude oil for delivery on each day of such fiscal quarter, stated in U.S.
Dollars, published under the heading “Crude Price
Assessments:  International:  Brent (DTD)” in the Platts
Marketwire that reports prices effective on such dates and certified to the
Administrative Agent by a Responsible Officer of the Borrowers’
Agent.  The calculation of the Borrowers’ Agent shall be conclusive
absent manifest error.

     

    “BAFB” has the meaning set
forth in the definition of “Structured Financing Transactions.”

     

    “Base Rate” means, for any day,
a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate
plus 1⁄2 of 1% and (b) the rate of interest in effect for such day as publicly
announced from time to time by Citibank, N.A. as its “prime rate”; provided that prior to the
third anniversary of the Amendment Effective Date, in no event shall the Base
Rate applicable to the U.S. Tranche B Dollar Term Loans (in the amount
outstanding on the Amendment Effective Date less the amount of any repayments or
prepayments thereof thereafter and excluding any Tranche B Incremental Term
Loans) be less than 4.25%.

     

    The
“prime rate” is a rate set by Citibank, N.A. based upon various factors
including Citibank, N.A. 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 rate announced by Citibank, N.A. shall take effect at the opening
of business on the day specified in the public announcement of such
change.

     

    
      
        
           

        

        
          -8-

          
            

          

        

        
           

        

      

    

     

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

     

    “Basel II” has the meaning set
forth in Section 3.04(a).

     

    “Basell Finance” has the
meaning set forth in the introductory paragraph to this Agreement.

     

    “Basell Funding” means Basell
Funding S.à r.l., a société à responsabilité limitée incorporated under the laws
of the Grand Duchy of Luxembourg.

     

    “Basell Holdings” has the
meaning set forth in the introductory paragraph to this Agreement.

     

    “BIL Acquisition” means BIL
Acquisition Holdings Limited, a Delaware corporation and Wholly Owned Subsidiary
of the Company.

     

    “Blavatnik Charitable Trust”
has the meaning set forth in the definition of “Blavatnik Group.”

     

    “Blavatnik Group” means,
collectively:

     

    (1)           Mr.
Leonard Blavatnik, his spouse, direct descendants, siblings, parents, children
of siblings, or grandchildren, grand nieces and grand nephews, any other members
of the immediate Blavatnik family, or

     

    (2)           any
trust or any entity directly or indirectly controlled by, or for the benefit of,
one or more members of the Blavatnik family described above, or

     

    (3)           any
trust (a “Blavatnik Charitable
Trust”):

     

    (a)           for
the benefit of a charity created by any member of the Blavatnik family described
above, or

     

    (b)           to
which any such member of the Blavatnik family described above is a substantial
donor or grantor, or

     

    (4)           the
estate, executor, administrator or committee of beneficiaries of any member of
the Blavatnik Group listed in clause (1) or (2) of this definition;

     

    provided that, in the case of
any Blavatnik Charitable Trust, a member of the Blavatnik Group described in
clause (1) or (2) of this definition maintains control thereof.

     

    For
purposes of this definition only, “control” of a Blavatnik Charitable Trust
means the possession of the power to direct or cause the direction of management
and policies of such Blavatnik Charitable Trust in respect of the issued share
capital of the Company owned by such Blavatnik Charitable Trust.

     

    “Board of Directors” means, as
to any Person, the board of directors (or similar governing body) of such Person
(or, if such Person is a partnership and does not have a board of directors (or
similar governing body), the board of directors (or similar governing body) of
such Person’s general partner) or, except with respect to the definition of
“Change of Control” any duly authorized committee thereof.

     

    “Borrowers” has the meaning set
forth in the introductory paragraph to this Agreement.

     

    
      
        
           

        

        
          -9-

          
            

          

        

        
           

        

      

    

     

    “Borrowers’ Agent” means Basell
Finance and/or such other Subsidiaries as the Company shall appoint from time to
time by written notice to the Administrative Agent.

     

    “Borrowing” means a Revolving
Credit Borrowing, a Swing Line Borrowing, or a Term Borrowing, as the context
may require.

     

    “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, are in fact closed in, the state of New
York and:

     

    (a)           if
such day relates to any interest rate settings as to a Eurocurrency Rate Loan
denominated in Dollars, any fundings, disbursements, settlements and payments in
Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in
Dollars to be carried out pursuant to this Agreement in respect of any such
Eurocurrency Rate Loan, means any such day on which dealings in deposits in
Dollars are conducted by and between banks in the London interbank eurodollar
market;

     

    (b)           if
such day relates to any interest rate settings as to a Eurocurrency Rate Loan
denominated in Euros, any fundings, disbursements, settlements and payments in
Euros in respect of any such Eurocurrency Rate Loan, or any other dealings in
Euros to be carried out pursuant to this Agreement in respect of any such
Eurocurrency Rate Loan, means a TARGET Day; and

     

    (c)           if
such day relates to any interest rate setting as to any funding, disbursements,
settlements, payment and Loan denominated in Sterling or any other dealings in
Sterling to be carried out pursuant to this Agreement in respect of any such
Loan, such day shall be a day which dealings in deposits in Sterling are
conducted by and between banks in the London interbank market and such banks are
open for foreign exchange business in London.

     

    “CAM Exchange” means the
exchange of the Lenders’ interests provided for in Section 8.05.

     

    “CAM Exchange Date” means the
date on which any Event of Default referred to in Section 8.01(f) shall occur or
the date on which the Company receives written notice from the Administrative
Agent that any Event of Default referred to in Section 8.01(g) has
occurred.

     

    “CAM Percentage” means, as to
each Lender, a fraction, expressed as a decimal, of which (a) the numerator
shall be the aggregate Dollar Amount of the Designated Obligations owed to such
Lender (whether or not at the time due and payable) immediately prior to the CAM
Exchange Date and (b) the denominator shall be the aggregate amount of the
Designated Obligations owed to all the Lenders (whether or not at the time due
and payable) immediately prior to the CAM Exchange Date.

     

    “Capital Expenditures” means,
for any period, any expenditure which, in accordance with GAAP, is treated as a
capital expenditure in the audited consolidated financial statements of the
Company and its Subsidiaries other than (i) any capital expenditure constituting
an Investment permitted pursuant to clauses (e), (g), (i), (m), (n), (o) (in the
case of (n) and (o), only to the extent consisting of acquisitions and
Investments in Joint Ventures), (p) and (r) of Section 7.02, (ii) any
expenditure made in connection with the replacement, substitution, restoration
or repair of assets to the extent financed with (x) insurance proceeds paid on
account of the loss of or damage to the assets being replaced, substituted,
restored or repaired or (y) awards of compensation arising from the taking by
eminent domain or condemnation of the assets being replaced, substituted,
restored or repaired, (iii) the purchase price of equipment that is purchased
simultaneously with the trade-in of existing equipment to the extent that the
gross amount of such purchase price is reduced by the credit granted by the
seller of such equipment for the equipment being traded in at such time, (iv)
the purchase price of plant, property, equipment or software to the extent
financed with the proceeds of Dispositions or Casualty Events, in each case that
are not required to be applied to prepay Term Loans pursuant to Section 2.05(b)
and (v) any expenditure that is accounted for as a capital expenditure by the
Company or any Restricted Subsidiary and that actually is paid for by a Person
other than the Company or any Restricted Subsidiary and for which neither the
Company nor any Restricted Subsidiary has provided or is required to provide or
incur, directly or indirectly, any consideration or obligation to such Person or
any other Person (whether before, during or after such period).

     

    
      
        
           

        

        
          -10-

          
            

          

        

        
           

        

      

    

     

    “Capitalized Leases” means all
leases which, in accordance with GAAP, are recorded as capitalized leases; provided that for all
purposes hereunder the amount of principal obligations under any Capitalized
Lease shall be the Attributable Indebtedness related thereto.

     

    “Carry-Forward Amount” has the
meaning set forth in Section 7.11(c).

     

    “Cash Collateral” has the
meaning set forth in Section 2.03(g).

     

    “Cash Collateral Account” means
a blocked account at Citibank, N.A. (or another commercial bank selected in
compliance with Section 9.09) in the name of the Collateral Agent, and otherwise
established in a manner reasonably satisfactory to the Collateral
Agent.

     

    “Cash Collateralize” has the
meaning set forth in Section 2.03(g).

     

    “Cash Equivalents” means any of
the following types of Investments, to the extent owned by the Company or any
Restricted Subsidiary:

     

    (a)           time
deposits or demand deposits in local currencies held by it from time to time in
the ordinary course of business;

     

    (b)           an
obligation, maturing within two years after the date of its acquisition, issued
or guaranteed by the United States of America, Australia, Switzerland, Japan,
Canada or any state which was a member state of the European Union, on
December 31, 2003 or an instrumentality or agency thereof,

     

    (c)           a
certificate of deposit or banker’s acceptance, maturing within one year after
the date of its acquisition, issued by any Lender, or a U.S. national or state
bank or trust company or a European, Canadian, Australian, Swiss or Japanese
bank, in each case having capital, surplus and undivided profits of at least
$100,000,000 and whose long-term unsecured debt has a rating of “A” or better by
S&P or A2 or better by Moody’s or the equivalent rating by any other
nationally recognized rating agency (any such bank, an “Approved Bank”),

     

    (d)           commercial
paper, maturing within one year after the date of its acquisition, which has a
rating of A1 or better by S&P or P1 or better by Moody’s, or the equivalent
rating by any other nationally recognized rating agency,

     

    (e)           repurchase
agreements and reverse repurchase agreements with an outstanding term not in
excess of one year after the date of its acquisition with any financial
institution which has been elected as a primary government securities dealer by
the Federal Reserve Board or in respect of instruments set forth in clauses (c)
or (d) above of the credit quality set forth in such applicable
clause,

     

    (f)           “Money
Market” preferred stock maturing within six months after the date of its
acquisition or municipal bonds issued by a corporation organized under the laws
of any state of the United States, Australia, Japan, Canada, Switzerland or any
state which was a member state of the European Union on December 31, 2003
or an instrumentality or agency thereof, which has a rating of “A” or better by
S&P or Moody’s or the equivalent rating by any other nationally recognized
rating agency,

     

    
      
        
           

        

        
          -11-

          
            

          

        

        
           

        

      

    

     

    (g)           tax
exempt floating rate option tender bonds backed by letters of credit issued by a
national or state bank whose long-term unsecured debt has a rating of AA or
better by S&P or Aa2 or better by Moody’s or the equivalent rating by any
other nationally recognized rating agency, and

     

    (h)           shares
of any fund holding assets consisting (except for de minimis amounts) of the
type specified in clauses (b) through (g) above.

     

    “Cash Flow Intercreditor
Agreement” means the intercreditor agreement, dated as of the Original
Closing Date, between, among others, the Collateral Agent, Citibank, N.A., (in
its capacity as agent to the secured parties under the ABF Inventory Facility),
the New Notes Trustee (as defined therein), the Interim Facility Agent (as
defined therein), the High Yield Notes Trustee (as defined therein), the Arco
Notes Trustee (as defined therein), the Equistar Notes Trustee (as defined
therein), the Company, the U.S. Borrower and the other parties thereto from time
to time, as amended, amended and restated, supplemented or otherwise modified
from time to time.

     

    “Casualty Event” means any
event that gives rise to the receipt by the Company or any Restricted Subsidiary
of any insurance proceeds or condemnation awards in respect of any equipment,
fixed assets or Real Property (including any improvements thereon) to replace or
repair such equipment, fixed assets or Real Property.

     

    “CERCLA” means the
Comprehensive Environmental Response, Compensation and Liability Act of 1980, as
subsequently amended.

     

    “Change in Law” means, the
introduction of, or any change in or in the interpretation of, any law, treaty
or governmental rule, regulation or order or the compliance with any guideline,
request or directive from any Governmental Authority (whether or not having the
force of law).

     

    “Change of Control” means the
occurrence of any of the following:

     

    (1)           the
Sponsor ceases to hold legally and beneficially:

     

    (a)           issued
share capital having the right to cast at least 51% (or, following a Listing, at
least 35%) of the votes capable of being cast in general meetings of the
Company; or

     

    (b)           before
a Listing, the right to determine the composition of the majority of the board
of directors or equivalent body of the Company;

     

    (2)           following
a Listing, any Person or group of Persons acting in concert (other than the
Sponsor) owns, directly or indirectly, a greater percentage of the issued share
capital or issued share capital with voting rights of the Company than the
Sponsor or, at any time, otherwise acquires control of the Company;
or

     

    (3)           the
replacement of a majority of the Board of Directors of the Company over a
two-year period from the directors who constituted the Board of Directors of the
Company at the beginning of such period, and such replacement shall not have
been approved by a vote of at least a majority of the Board of Directors of the
Company then still in office who either were members of such Board of Directors
at the beginning of such period or whose election as a member of such Board of
Directors was previously so approved; or

     

    
      
        
           

        

        
          -12-

          
            

          

        

        
           

        

      

    

     

    (4)           the
adoption by the stockholders of the Company of a plan or proposal for the
liquidation or dissolution of the Company, other than, in each case, a
transaction complying with the covenant described in Section 7.04.

     

    “Class” (a) when used with
respect to Lenders, refers to whether such Lenders are Dutch Tranche A Dollar
Term Lenders, U.S. Tranche A Dollar Term Lenders, U.S. Tranche B-1 Dollar Term
Lenders, U.S. Tranche B-2 Dollar Term Lenders, U.S. Tranche B-3 Dollar Term
Lenders, German Tranche B-1 Euro Term Lenders, German Tranche B-2 Euro Term
Lenders, German Tranche B-3 Euro Term Lenders, Primary Revolving Credit Lenders
or Dutch Revolving Credit Lenders, (b) when used with respect to Commitments,
refers to whether such Commitments are Dutch Tranche A Dollar Term Commitments,
U.S. Tranche A Dollar Term Commitments, U.S. Tranche B-1 Dollar Term
Commitments, U.S. Tranche B-2 Dollar Term Commitments, U.S. Tranche B-3 Dollar
Term Commitments, German Tranche B-1 Euro Term Commitments, German Tranche B-2
Euro Term Commitments, Tranche B-3 Euro Term Commitments, Primary Revolving
Credit Commitments or Dutch Revolving Credit Commitments and (c) when used with
respect to Loans or a Borrowing, refers to whether such Loans, or the Loans
comprising such Borrowing, are Dutch Tranche A Dollar Term Loans, U.S. Tranche A
Dollar Term Loans, U.S. Tranche B-1 Dollar Term Loans, U.S. Tranche B-2 Dollar
Term Loans, U.S. Tranche B-3 Dollar Term Loans, German Tranche B-1 Euro Term
Loans, German Tranche B-2 Euro Term Loans, German Tranche B-3 Euro Term Loans,
Primary Revolving Credit Loans or Dutch Revolving Credit Loans.

     

    “Clean-Up Period” has the
meaning set forth in Section 8.02(b).

     

    “Code” means the U.S. Internal
Revenue Code of 1986, as amended from time to time, and rules and regulations
related thereto.

     

    “Collateral” means the
“Collateral” as defined in the Security Agreements and all the “Collateral,”
“Pledged Assets,” “Mortgaged Property,” “Security” or “Trust Property” (or
similar terms with respect of Collateral Documents governed by Laws other than
those of any state of the United States as defined in any other Collateral
Document.

     

    “Collateral Agent” means
Citibank, N.A. in its capacity as collateral agent or pledgee under any of the
Loan Documents, or any successor collateral agent appointed in accordance with
Section 9.09.

     

    “Collateral and Guarantee
Requirement” means, at any time, the requirement that, subject to the
Agreed Security Principles and Section 6.14(a):

     

    (a)           the
Administrative Agent shall have received each Collateral Document required to be
delivered on the Original Closing Date pursuant to Section 4.01(a)(iii) or
subsequent to the Original Closing Date pursuant to Sections 6.12 or 6.14 at
such time, duly executed by each Loan Party party thereto;

     

    (b)           all
Obligations shall have been unconditionally guaranteed (together, the “Guaranties”) by (x) on the
Original Closing Date, the Company, each Borrower and each Restricted Subsidiary
set forth on Schedule 1.01H
and (y) after the Original Closing Date, by each Material Subsidiary (each, a
“Guarantor”), in each
case to the extent permitted by applicable law, regulation and contractual
provision and to the extent such guarantee would not result in a material
qualification (including any “going concern” or like qualification) in such
Guarantor’s audit report, in each case as reasonably determined by the
Company;

     

    
      
        
           

        

        
          -13-

          
            

          

        

        
           

        

      

    

     

    (c)           the
Guaranties shall have been secured by, subject to the Intercreditor Agreement,
the Legal Reservations and the Perfection Requirements, a first-priority
security interest to the extent legally possible and to the extent required by
the Collateral Documents in all Equity Interests of (i) each Wholly Owned
Domestic Subsidiary of a Guarantor domiciled in the U.S. and (ii) each material
Wholly Owned Foreign Subsidiary of any Guarantor (other than the Parent
Guarantor), in each instance, (other than, in each case, the Equity Interests of
Basell Capital Corporation, LyondellBasell Receivables I, LLC or any other
Securitization Entity)only to the extent directly owned by the relevant
Guarantor;

     

    (d)           except
as set forth on Schedule 1.01K, to
the extent otherwise permitted hereunder or under any Collateral Document and to
the extent legally possible and to the extent required by the Collateral
Documents, the Guaranties shall have been secured by a security interest in, and
mortgages on, substantially all tangible and intangible assets of the Company
and each other Guarantor (including accounts (other than the Equity Interests
not referred to in (c) above) but excluding accounts receivable subject to
Receivables Financing or any Securitization Transactions), inventory (other than
inventory subject to any Asset Backed Credit Facility or Receivables Financing
not prohibited by this Agreement), equipment, investment property, contract
rights, intellectual property, other general intangibles, material owned or
ground leased Real Property, intercompany notes and proceeds of the foregoing),
in each case, subject to the Legal Reservations and the Perfection Requirements,
with the priority required by the Collateral Documents; provided that security
interests in Real Property shall be limited to the Mortgaged
Properties;

     

    (e)           none
of the Collateral shall be subject to any Liens other than Liens permitted by
Section 7.01; and

     

    (f)           the
Collateral Agent shall have received (i) counterparts of a Mortgage or other
appropriate security interest with respect to each owned or ground leased Real
Property or Easement Instrument described on Schedule 1.01F or
required to be delivered pursuant to Sections 4.01, 6.12 or 6.14 at such time
(the “Mortgaged
Properties”) duly executed and delivered by the record owner of such Real
Property or, in the case of Real Property subject to a ground lease, the tenant
holding the leasehold interest in such Real Property; provided, however, that with respect to
any Mortgaged Property subject to a ground lease, the Loan Party holding the
tenant’s interest therein shall not be required to deliver a Mortgage with
regard to any ground lease, for which a consent must be obtained, (ii) in
respect of any Mortgaged Property located in the United States other than any
Excluded Easements, a Title Policy or Title Policies issued by the Title Company
insuring the Lien of each such Mortgage as a valid Lien on the property
described therein, free of any other Liens except as expressly permitted by
Section 7.01, (iii) in respect of any Mortgaged Property located outside the
United States, evidence that the Administrative Agent may reasonably request
that the Mortgage or other appropriate security interest constitutes, subject to
the Intercreditor Agreement, the Legal Reservations and the Perfection
Requirements, a first-ranking security interest in respect of the relevant Real
Property and that the record owner of such Real Property holds good title to it
and (iv) such Surveys, abstracts, certificates, title documents, existing
appraisals, legal opinions and other documents as the Administrative Agent may
reasonably request with respect to any such Mortgaged Property, in each case in
form and substance reasonably satisfactory to the Administrative Agent and
Collateral Agent.  “Excluded Easements” means
those pipeline easements and other similar Real Property owned by Equistar
Chemicals, LP that are not situated within a plant or other facility that is (1)
described on Schedule
1.01F and (2) with respect to which the Collateral Agent is obtaining a
Title Policy as contemplated in this clause (f).

     

    
      
        
           

        

        
          -14-

          
            

          

        

        
           

        

      

    

     

    The
foregoing definition shall not require the creation or perfection of pledges of
or security interests in, or the obtaining of title insurance or surveys with
respect to, (i) assets for which creation or perfection of security interests is
not required pursuant to the Collateral Documents and (ii) assets as to which
the Administrative Agent and the Borrowers’ Agent reasonably determine that the
cost of creating or perfecting such pledges or security interests in such assets
or obtaining title insurance or surveys in respect of such assets shall be
excessive in relation to the benefits to be obtained by the Lenders
therefrom.  The Administrative Agent shall grant extensions of time
for the perfection of security interests in or the obtaining of title insurance
or other items required by the Collateral and Guarantee Requirement with respect
to particular assets (including extensions beyond the Original Closing Date for
the perfection of security interests in the assets of the Loan Parties on such
date) where it determines, in consultation with the Company, that perfection
cannot be accomplished using commercially reasonable efforts by the time or
times at which it would otherwise be required by this Agreement or the
Collateral Documents.

     

    Notwithstanding
the foregoing provisions of this definition or anything in this Agreement or any
other Loan Document to the contrary, Liens required to be granted from time to
time pursuant to the Collateral and Guarantee Requirement shall be subject to
exceptions and limitations set forth in the Collateral Documents and, to the
extent appropriate in the applicable jurisdiction, as agreed between the
Administrative Agent and the Company.

     

    “Collateral Documents” means,
collectively, each of the Security Agreements, each of the Mortgages, collateral
assignments, security agreements, pledge agreements, intellectual property
security agreements granting Liens or other similar agreements delivered to the
Administrative Agent and the Lenders pursuant to Section 4.01, 6.12 or
6.14.

     

    “Commitment” means a U.S.
Tranche A Dollar Term Commitment, a U.S. Tranche B Dollar Term Commitment, a
Dutch Tranche A Dollar Term Commitment, a German Tranche B Euro Term Commitment
or a Revolving Credit Commitment, as the context may require.

     

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

     

    “Company” has the meaning set
forth in the introductory paragraph to this Agreement.

     

    “Company Financial Officer”
means the chief financial officer, any director (or equivalent) or officer from
time to time of the Company with actual knowledge of the financial affairs of
the Company or the Company and its Restricted Subsidiaries (as the context may
require).

     

    “Company Materials” has the
meaning set forth in Section 6.01.

     

    “Compensation Period” has the
meaning set forth in Section 2.12(c)(ii).

     

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

     

    “Consolidated Debt Service
Ratio” means, with respect to the Company and its Restricted Subsidiaries
for any Test Period, the ratio of Consolidated EBITDA for such Test Period minus the sum,
without duplication, of:

     

    
      
        
           

        

        
          -15-

          
            

          

        

        
           

        

      

    

     

    (a)           Capital
Expenditures; and

     

    (b)           all
cash payments in respect of income taxes made (net of any cash refund in respect
of income taxes actually received);

     

    divided
by the sum, without duplication, of

     

    (x)           Consolidated
Interest Expense; and

     

    (y)           the
principal amount of all scheduled amortization payments on all Financial
Indebtedness (including the principal component of all Capitalized
Leases);

     

    provided that the
Consolidated Debt Service Ratio shall be calculated for the Test Period ending
(i) March 31, 2008 based on the Consolidated Interest Expense and
amortization payments referred to in clauses (x) and (y) above for each full
fiscal quarter ending after the Original Closing Date multiplied by four,
(ii) June 30, 2008 based on the sum of the Consolidated Interest
Expense and amortization payments referred to in clauses (x) and (y) above for
each full fiscal quarter ending after the Original Closing Date multiplied by
two and (iii) September 30, 2008 based on the sum of the Consolidated
Interest Expense and amortization payments referred to in the clauses (x) and
(y) above for each full fiscal quarter ending after the Original Closing Date
multiplied by 4/3.

     

    “Consolidated EBITDA” means,
with respect to the Company and its Restricted Subsidiaries for any Test Period,
the sum, without duplication, of:

     

    (1)           Consolidated
Net Income, and

     

    (2)           to
the extent such Consolidated Net Income has been reduced thereby,

     

    (a)           after-tax
items classified as nonrecurring losses,

     

    (b)           all
income taxes paid or accrued (other than income taxes attributable to
extraordinary gains or losses),

     

    (c)           Consolidated
Interest Expense,

     

    (d)           Consolidated
Non-cash Charges,

     

    (e)           the
amount of net loss resulting from the payment of any premiums, fees or similar
amounts that are required to be paid under the terms of the instrument(s)
governing any Indebtedness upon the repayment or other extinguishment of such
Indebtedness in accordance with the terms of such Indebtedness,

     

    (f)           nonrecurring
costs and expenses paid that are related to any expense or cost reductions that
have occurred or are associated with the good faith projected cost savings
described in clause (3) below;

     

    (g)           management
fees and merger and acquisition advisory fees paid to the Sponsor;

     

    (h)           any
inventory write-up in connection with purchase accounting in respect of
acquisitions (including the Acquisition); and

     

    
      
        
           

        

        
          -16-

          
            

          

        

        
           

        

      

    

    

     

    (3)           the
amount of net cost savings projected by the Company in good faith to be realized
by specified actions taken prior to or during such period; provided that (x) such cost
savings are reasonably identifiable and factually supportable, (y) such actions
have been taken or are to be taken within twelve months of the date or
determination to take such action and the benefit is expected to be realized
within twelve months of taking such action, and (z) the aggregate amount of such
cost savings added pursuant to this clause (3) shall not exceed $150,000,000
during such Test Period.

     

    Notwithstanding
anything herein to the contrary, Consolidated EBITDA for the Fiscal Quarter
ending (i) June 30, 2007 shall be deemed to be $1,521,000,000, (ii) September
30, 2007 shall be deemed to be $1,632,000,000 and (iii) December 31, 2007 shall
be deemed to be $1,067,000,000.

     

    “Consolidated First Lien Senior
Secured Debt” means (a) Consolidated Total Debt secured by a Lien on any
assets of the Company or any of its Restricted Subsidiaries (other than (i) any
Indebtedness under Asset Backed Credit Facilities, Receivables Financings or
Securitization Transactions not prohibited by this Agreement, (ii) any Loans
subject to prepayment out of funds in the Cash Collateral Account and (iii) any
Indebtedness secured by a Lien ranking junior to the Lien securing the
Obligations on a basis at least as substantially favorable to the Lenders as the
basis on which the Lien securing the Senior Second Interim Loans ranks junior to
the Lien securing the Obligations) minus (b)
Unrestricted Cash.

     

    “Consolidated Fixed Charge Coverage
Ratio means, for any Test Period, the ratio of Consolidated EBITDA for
such Test Period to:

     

    (x)           Consolidated
Interest Expense; plus

     

    (y)           the
sum of

     

    (a)           the
amount of all dividend payments on any series of preferred stock (other than
dividends paid in Qualified Equity Interests and other than dividends paid to
the Company or to a Restricted Subsidiary) paid or accrued during such Test
Period, plus

     

    (b)           tax
actually paid in cash by the Company or any Restricted Subsidiary and
attributable to the items referred to in paragraph (a) of this clause
(y);

     

    provided that the
Consolidated Fixed Charge Coverage Ratio shall be calculated for the Test Period
ending (i) March 31, 2008 based on the Consolidated Interest Expense for
each full fiscal quarter ending after the Original Closing Date multiplied by
four, (ii) June 30, 2008 based on the sum of the Consolidated Interest Expense
for each full fiscal quarter ending after the Original Closing Date multiplied
by two and (iii) September 30, 2008 based on the sum of the Consolidated
Interest Expense for each full Fiscal Quarter ending after the Original Closing
Date multiplied by 4/3.

     

    “Consolidated Interest Expense”
means, with respect to the Company and its Restricted Subsidiaries and for any
period, without duplication:

     

    (1)           the
interest expense in respect of Financial Indebtedness, including:

     

    (a)           any
amortization of debt discount,

     

    (b)           all
capitalized interest, and

     

    (c)           the
interest portion of any deferred payment obligation,

     

    
      
        
           

        

        
          -17-

          
            

          

        

        
           

        

      

    

     

    but
excluding, in each case, any amortization or write-off of deferred financing
costs and fees incurred in connection with the incurrence of any Indebtedness or
Securitization Transactions; plus

     

    (2)           the
net amount paid (or deducting the net amount received) by the Company and its
Restricted Subsidiaries in respect of the relevant period under any Obligations
in respect to Swap Contracts consisting of interest rate hedging arrangements or
the interest rate component of currency hedging arrangements; plus

     

    (3)           the
interest component of Capitalized Leases paid, accrued and/or scheduled to be
paid or accrued during such period,

     

    less interest
income.

     

    “Consolidated Net Income”
means, with respect to the Company and its Restricted Subsidiaries, for any Test
Period:

     

    (1)           net
income (or loss), plus

     

    (2)           cash
dividends or distributions paid to the Company or any Restricted Subsidiary by
any other Person (the “Payor”) other than a
Restricted Subsidiary, to the extent not otherwise included in Consolidated Net
Income, which have not been derived from Indebtedness of the Payor to the extent
such Indebtedness is Guaranteed by the Company or a Restricted
Subsidiary;

     

    provided that there shall be
excluded therefrom (but only to the extent included in the calculation of the
foregoing):

     

    (a)           after-tax
gains or losses from disposals, asset impairments or reversal of impairments or
abandonments or reserves relating thereto (including for the avoidance of doubt
and irrespective of its classification, the effect of any impairment of goodwill
arising as a result of the Acquisition),

     

    (b)           after-tax
items classified as extraordinary gains or losses,

     

    (c)           the
net income (but not loss) of any Restricted Subsidiary that is not a Loan Party,
to the extent that the declaration of dividends or similar distributions by that
Restricted Subsidiary of that income is restricted,

     

    (d)           the
net income or loss of any Person other than a Restricted Subsidiary, except to
the extent of cash dividends or distributions paid to the Company or to a
Restricted Subsidiary by such Person,

     

    (e)           any
restoration to income of any contingency reserve, except to the extent that
provision for such reserve was made out of Consolidated Net Income accrued at
any time following the Original Closing Date,

     

    (f)           income
or loss attributable to discontinued operations (including operations disposed
of during such period whether or not such operations were classified as
discontinued),

     

    (g)           in
the case of a successor to the Company by consolidation, merger or amalgamation
or as a transferee of the Company’s assets, any earnings or losses of the
successor corporation prior to such consolidation, merger, amalgamation or
transfer of assets,

     

    
      
        
           

        

        
          -18-

          
            

          

        

        
           

        

      

    

     

    (h)           all
dividends received by the Company as described in clause (4) of the second
paragraph of the definition of “Indebtedness” to the extent the Company is
obligated to apply such dividends in the repayment of such Indebtedness;
and

     

    (i)           any
increase in amortization or depreciation as a result of the receipt of any
insurance proceeds from damage to property.

     

    “Consolidated Net Tangible
Assets” means, as of any date, the total amount of assets (less
applicable reserves and other properly deductible items) of the Company and its
Restricted Subsidiaries, as of the last day of the then most recently ended
Fiscal Year for which financial statements have been delivered pursuant to
Section 6.01(a), after deducting therefrom (1) all current liabilities
(excluding any thereof which are by their terms extendible or renewable at the
option of the obligor thereon to a time more than 12 months after the time as of
which the amount thereof is being computed and excluding current maturities of
long term debt), and (2) all goodwill, IP Rights, unamortized debt discount and
other like intangible assets.

     

    “Consolidated Non-cash Charges”
means, with respect to the Company and its Restricted Subsidiaries, for any
period, the aggregate depreciation, amortization and other non-cash expenses
reducing Consolidated Net Income of such Person for such period (excluding any
such charges constituting an extraordinary item or loss or any such charge which
requires an accrual of or a reserve for cash charges for any future
period).

     

    “Consolidated Total Debt”
means, as of any date, the principal amount of Indebtedness of the Company and
its Restricted Subsidiaries that is outstanding on such date and that consists
of Indebtedness (other than Indebtedness under the Structured Financing
Transaction) for borrowed money (adjusted to take into account any liability or
receivable arising under any Swap Contract entered into in connection with
hedging any currency exposure to such Indebtedness) and Attributable
Indebtedness.

     

    “Consolidated Working Capital”
means, as of any date, the excess of (a) the sum of all amounts (other than cash
and Cash Equivalents) that would be set forth opposite the caption “total
current assets” (or any like caption) on a consolidated balance sheet of the
Company and its Restricted Subsidiaries at such date over (b) the sum of all
amounts that would be set forth opposite the caption “total current liabilities”
(or any like caption) on a consolidated balance sheet of the Company and the
Restricted Subsidiaries on such date, including deferred revenue but excluding,
without duplication, the current portion of any Funded Debt and the current
portion of any Asset Backed Credit Facilities (whether on or off balance
sheet).

     

    “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” has the meaning set
forth in the definition of “Affiliate.”

     

    “Credit Extension” means each
of the following:  (a) a Borrowing, (b) an L/C Credit
Extension and (c) the making of Incremental Term Loans and the effectiveness of
any Revolving Commitment Increase.

     

    “Debtor Relief Laws” means the
Bankruptcy Code of the United States, the Dutch Bankruptcy Act (Faillissementswet), the
German Insolvency Law, the Luxembourg insolvency laws and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors,
moratorium, rearrangement, receivership, insolvency, reorganization, faillissement, surseance van betaling, onderbewindstelling, ontbinding, or similar debtor
relief Laws of the United States, The Netherlands , Luxembourg or other
applicable jurisdictions from time to time in effect and affecting the rights of
creditors generally (including, in the case of Loan Parties incorporated or
organized in England, Wales or Hong Kong, administration, administrative
receivership, voluntary arrangement and schemes of arrangement).

     

    
      
        
           

        

        
          -19-

          
            

          

        

        
           

        

      

    

     

    “Declined Proceeds” has the
meaning set forth in Section 2.05(b)(vii).

     

    “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, with
respect to Loans under any Facility, an interest rate equal to (a) the Base Rate
plus (b) the Applicable Rate, if any, applicable to Base Rate Loans made under
such Facility plus (c) 2.00% per annum; provided that with respect to
any Eurocurrency Rate Loan, the Default Rate means an interest rate equal to the
interest rate (including any Applicable Rate and any applicable Mandatory Cost)
otherwise applicable to such Loan plus 2.00% per annum, in each case to the
fullest extent permitted by applicable Law.

     

    “Defaulting Lender” means any
Lender that (a) has failed to fund any portion of the Term Loans, Revolving
Credit Loans, participations in L/C Obligations or participations in Swing Line
Loans required to be funded by it hereunder within one (1) Business Day of the
date required to be funded by it hereunder, unless the subject of a good faith
dispute or subsequently cured (but only from when subsequently cured), (b) has
otherwise failed to pay over to the Administrative Agent or any other Lender any
other amount required to be paid by it hereunder within one (1) Business Day of
the date when due, unless the subject of a good faith dispute or subsequently
cured (but only from when subsequently cured), or (c) has been deemed insolvent
or become the subject of a bankruptcy or insolvency proceeding.

     

    “Designated Obligations” means
all obligations of the Borrowers with respect to (a) principal of and interest
on the Loans and (b) accrued and unpaid fees under the Loan
Documents.

     

    “Disposition” or “Dispose” means the sale,
transfer, license, lease or other disposition (including any sale and leaseback
transaction and any sale or issuance of Equity Interests) of any property by any
Person, including any sale, assignment, transfer or other disposal, with or
without recourse, of any notes or accounts receivable or any rights and claims
associated therewith.

     

    “Disqualified Equity Interests”
means that portion of any Equity Interest which, 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 (other
than redeemable only for Equity Interests of such Person that is not itself a
Disqualified Equity Interest), pursuant to a sinking fund obligation or
otherwise, or is redeemable at the option of the holder thereof, on or prior to
the date that is ninety-one (91) days after the latest Maturity Date of the Term
Loans, provided, however, that any Equity
Interest that would not constitute a Disqualified Equity Interest but for
provisions thereof giving holders thereof the right to require such Person to
purchase or redeem such Equity Interest upon the occurrence of a “change of
control” occurring prior to the date that is ninety-one (91) days after the
latest Maturity Date of the Term Loans shall not constitute a Disqualified
Equity Interest if:

     

    (1)           the
“change of control” provisions applicable to such Equity Interest are not more
favorable to the holders of such Equity Interest than the terms applicable to
the Loans; and

     

    (2)           any
such requirement only becomes operative after compliance with such terms
applicable to the Loans.

     

    
      
        
           

        

        
          -20-

          
            

          

        

        
           

        

      

    

     

    Notwithstanding
the preceding sentence, only the portion of such Equity Interest which so
matures or is mandatorily redeemable or is so convertible or exchangeable prior
to the date that is ninety-one (91) days after the latest Maturity Date of the
Term Loans shall be so deemed a Disqualified Equity Interest.  The
amount of any Disqualified Equity Interest that does not have a fixed
redemption, repayment or repurchase price will be calculated in accordance with
the terms of such Disqualified Equity Interest as if such Disqualified Equity
Interest were redeemed, repaid, converted or repurchased on any date on which
the amount of such Disqualified Equity Interest is to be determined pursuant
hereto; provided, however, that if such
Disqualified Equity Interest could not be required to be redeemed, repaid,
converted or repurchased at the time of such determination, the redemption,
repayment or repurchase price will be the book value of such Disqualified Equity
Interest as reflected in the most recent financial statements of such
Person.

     

    “Dividend Distribution Note”
means the note entered into on or about the Original Closing Date, evidencing a
liability owed by LyondellBasell Finance Company to Basell Funding.

     

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

     

    “Dollar Amount” means, at any
time:

     

    (a)           with
respect to any Loan denominated in Dollars (including, with respect to any Swing
Line Loan denominated in Dollars, any funded participation therein), the
principal amount thereof (or in which such participation is held);

     

    (b)           with
respect to any Loan denominated in any Alternative Currency (including, with
respect to any Swing Line Loan denominated in an Alternative Currency, any
funded participation therein), the principal amount thereof, converted to
Dollars in accordance with Section 2.15(a); and

     

    (c)           with
respect to any L/C Obligation (or any risk participation therein), (A) if
denominated in Dollars, the amount thereof and (B) if denominated in an
Alternative Currency, the amount thereof converted to Dollars in accordance with
Section 2.15.

     

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

     

    “Dutch Borrowers” has the
meaning set forth in the introductory paragraph to this Agreement.

     

    “Dutch Civil Code” means the
Dutch Civil Code (Burgerlijk
Wetboek).

     

    “Dutch L/C Advance” means, with
respect to each Dutch Revolving Credit Lender, such Lender’s funding of its
participation in any Dutch L/C Borrowing in accordance with its Pro Rata
Share.

     

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

     

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

     

    
      
        
           

        

        
          -21-

          
            

          

        

        
           

        

      

    

     

    “Dutch L/C Obligations” means, as at
any date of determination, the aggregate undrawn amount of all outstanding
Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all
Dutch L/C Borrowings.

     

    “Dutch Letter of Credit” means
a Letter of Credit issued under the Dutch Revolving Credit
Facility.

     

    “Dutch Letter of Credit
Sublimit” means an amount equal to the lesser of (a) $50,000,000 and
(b) the aggregate Dollar Amount of the Dutch Revolving Credit
Commitments.  The Dutch Letter of Credit Sublimit is part of, and not
in addition to, the Dutch Revolving Credit Facility.

     

    “Dutch Loan Party” means a Loan
Party incorporated under the laws of or established in The
Netherlands.

     

    “Dutch Revolving Credit
Commitment” means, as to each Dutch Revolving Credit Lender, its
obligation to (a) make Dutch Revolving Credit Loans to the Dutch Borrowers
pursuant to Section 2.01(e)(ii), and (b) purchase participations in Dutch L/C
Obligations in respect of Dutch Letters of Credit in an aggregate principal
amount at any one time outstanding not to exceed the amount set forth opposite
such Lender’s name on Schedule 1.01A under the caption “Dutch Revolving Credit
Commitment” or in the Assignment and Assumption pursuant to which such Lender
becomes a party hereto, as applicable, as such amount may be adjusted from time
to time in accordance with this Agreement (including Section
2.14).  The aggregate Dutch Revolving Credit Commitments of all Dutch
Revolving Credit Lenders was $200,000,000 on the Original Closing
Date.

     

    “Dutch Revolving Credit
Exposure” means, as to each Dutch Revolving Credit Lender, the sum of the
Dollar Amount of the outstanding principal amount of such Dutch Revolving Credit
Lender’s Dutch Revolving Credit Loans and its Pro Rata Share of the Dollar
Amount of the Dutch L/C Obligations at such time.

     

    “Dutch Revolving Credit
Facility” means, at any time, the aggregate amount of the Dutch Revolving
Credit Lenders’ Dutch Revolving Credit Commitments at such time.

     

    “Dutch Revolving Credit Lender”
means, at any time, any Lender that has a Dutch Revolving Credit Commitment at
such time.

     

    “Dutch Revolving Credit Loan”
has the meaning specified in Section 2.01(e).

     

    “Dutch Revolving Credit Note”
means a promissory note of the Dutch Borrowers payable to any Dutch Revolving
Credit Lender or its registered assigns, in substantially the form of Exhibit C-5,
evidencing the aggregate Indebtedness of the Dutch Borrowers to such Dutch
Revolving Credit Lender resulting from the Dutch Revolving Credit Loans made by
such Dutch Revolving Credit Lender to the Dutch Borrowers.

     

    “Dutch Tranche A Dollar Term
Commitment” means, as to each Dutch Tranche A Dollar Term Lender, its
Dutch Tranche A Dollar Term Loan in the amount set forth opposite such Lender’s
name on Schedule
1.01A under the caption “Dutch Tranche A Dollar Term Commitment” or in
the Assignment and Assumption pursuant to which such Dutch Tranche A Dollar Term
Lender becomes a party hereto, as applicable, as such amount may be adjusted
from time to time in accordance with this Agreement (including Section
2.14).  The amount of the Dutch Tranche A Dollar Term Commitments as
of the Original Closing Date was $500,000,000.

     

    
      
        
           

        

        
          -22-

          
            

          

        

        
           

        

      

    

     

    “Dutch Tranche A Dollar Term
Lender” means, at any time, any Lender that has a Dutch Tranche A Dollar
Term Commitment or a Dutch Tranche A Dollar Term Loan at such time.

     

    “Dutch Tranche A Dollar Term
Loan” means a Loan made pursuant to Section 2.01(c).

     

    “Dutch Tranche A Dollar Term Loan
Repayment Amount” has the meaning set forth in Section
2.07(c).

     

    “Dutch Tranche A Dollar Term
Note” means a promissory note of Basell Holdings payable to any Dutch
Tranche A Dollar Term Lender or its registered assigns, in substantially the
form of Exhibit
C-1, evidencing the aggregate Indebtedness of Basell Holdings to such
Dutch Tranche A Dollar Term Lender resulting from the Dutch Tranche A Dollar
Term Loans made by such Dutch Tranche A Dollar Term Lender.

     

    “Easement Instrument” means any
instrument, agreement or understanding pursuant to which an interest in land is
created, including without limitation, each of the instruments and agreements
described or referenced as relating to easements on Schedule
1.01F.

     

    “EBITDA” means the earnings
before interest, tax, depreciation and amortization for a Person, calculated in
the same manner as Consolidated EBITDA (without giving effect to clause (3) of
the definition thereof).

     

    “EMU Legislation” means the
legislative measures of the European Community relating to Economic and Monetary
Union.

     

    “Environment” means indoor air,
ambient air, surface water, groundwater, drinking water, land surface,
subsurface strata, and natural resources such as wetlands, flora and
fauna.

     

    “Environmental Laws” means the
common law and any and all Federal, state, local, and foreign statutes, Laws,
regulations, ordinances, rules, judgments, orders, decrees, permits, licenses,
agreements or governmental restrictions relating to pollution, the protection of
the Environment, the generation, treatment, storage, transport, distribution,
handling or recycling of Hazardous Materials or the presence, Release or threat
of Release of Hazardous Materials and, to the extent relating to exposure to
Hazardous Materials, human health and to workplace health and
safety.

     

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

     

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

     

    “Equistar Noteholders” means
the holders of the Equistar Notes.

     

    “Equistar Notes” means
$150,000,000 7.55% Debentures due 2026 issued by Lyondell Petrochemical Company
(assumed by Equistar Chemicals, LP) pursuant to the Equistar Notes Indenture, as
supplemented, together with any other series of notes created under the Equistar
Notes Indenture.

     

    
      
        
           

        

        
          -23-

          
            

          

        

        
           

        

      

    

     

    “Equistar Notes Indenture”
means the indenture governing the Equistar Notes dated as of January 29, 1996 as
supplemented by Supplemental Indentures dated February 15, 1996, December 1,
1997, November 3, 2000 and November 17, 2000.

     

    “Equistar Notes Secured
Parties” means the Equistar Notes Trustee and the Equistar
Noteholders.

     

    “Equistar Notes Trustee” means
any entity acting as trustee under the Equistar Notes.

     

    “Equity Interests” means, with
respect to any Person, all of the capital stock of such Person and all warrants,
options or other rights to acquire the capital stock of such Person, including
any contribution from shareholders without any issuance of shares (but excluding
any debt security that is convertible into, or exchangeable for, such capital
stock).

     

    “Equity Offering” means any
public or private sale of Capital Stock of the Company or any of its direct or
indirect parent companies (excluding Disqualified Capital Stock), other than:
(a) public offerings with respect to the Company’s or any direct or indirect
parent company’s common stock registered on Form S-8, (b) issuances to any
Subsidiary of the Company and (c) any equity investment pursuant to Section
8.04.

     

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

     

    “ERISA Affiliate” means any
trade or business (whether or not incorporated) that is under common control
with a Loan Party or any Restricted Subsidiary within the meaning of Section 414
of the Code or Section 4001 of ERISA.

     

    “ERISA Event” means (a) a
Reportable Event with respect to a Pension Plan; (b) with respect to a Pension
Plan, the failure to satisfy the minimum funding standard of Section 412 of the
Code and Section 302 of ERISA, whether or not waived;  (c) the failure
to make by its due date a required contribution under Section 412(m) of the Code
(or Section 430(j) of the Code, as amended by the Pension Protection Act of
2006) with respect to any Pension Plan or the failure to make any required
contribution to a Multiemployer Plan; (d) a withdrawal by a Loan Party, any
Subsidiary or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which it 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; (e) a complete or partial
withdrawal by a Loan Party, any Subsidiary or any ERISA Affiliate from a
Multiemployer Plan or notification that a Multiemployer Plan is in
reorganization; (f) the filing of a notice of intent to terminate, the treatment
of a Plan amendment as a termination under Section 4041 or 4041A of ERISA, or
the commencement of proceedings by the PBGC to terminate a Pension Plan or
Multiemployer Plan or the occurrence of any event or condition which could
reasonably be expected to constitute grounds under ERISA for the termination of
or the appointment of a trustee to administer any Pension Plan, in each case
where Plan assets are not sufficient to pay all Plan liabilities; (g) an 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
or Multiemployer Plan; (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 a Loan Party, any Subsidiary or any ERISA Affiliate; or (i) the
occurrence of a nonexempt prohibited transaction (within the meaning of Section
4975 of the Code or Section 406 of ERISA) which could reasonably be expected to
result in liability to a Loan Party or any Restricted Subsidiary.

     

    
      
        
           

        

        
          -24-

          
            

          

        

        
           

        

      

    

    

    “EURIBOR” means, in relation to
any Loan in Euros, (a) the percentage rate per annum determined by the Banking
Federation of the European Union for the relevant period, in each case displayed
on the appropriate page of the Reuters screen, and (b) if the rate referenced in
the preceding clause (a) does not appear on such page or service or such page or
service shall not be available for the relevant period of that Loan, the
arithmetic mean of the rates (rounded upwards to four decimal places) as
supplied to the Administrative Agent at its request quoted by three major banks
selected by the Administrative Agent to leading banks in the European interbank
market, at or about 11 a.m. Brussels time on the second full Business Day next
preceding the first day of the relevant period in relation to which such rate is
calculated.

     

    “Euro” and “€” mean the lawful currency of
the Participating Member States introduced in accordance with EMU
Legislation.

     

    “Eurocurrency Liabilities” has
the meaning set forth in Regulation D of the Federal Reserve Board.

     

    “Eurocurrency Rate” means, for
any Interest Period:

     

    (a)            in
relation to any Loan denominated in Dollars, for any Interest Period, the rate
obtained by dividing (i) the applicable LIBOR Rate for such Interest Period by
(ii) a percentage equal to 1 minus the stated
maximum rate (stated as a decimal) of all reserves, if any, required to be
maintained against Eurocurrency Liabilities (including any marginal, emergency,
special or supplemental reserves); provided that prior to the
third anniversary of the Amendment Effective Date, in no event shall the
Eurocurrency Rate applicable to the U.S. Tranche B Dollar Term Loans (in the
amount outstanding on the Amendment Effective Date less the amount of any
repayments or prepayments thereof thereafter and excluding any Tranche B
Incremental Term Loans) be less than 3.25%, and

     

    (b)           in
relation to any Loan denominated in Euros, for any Interest Period, the rate
obtained by dividing (i) the applicable EURIBOR for such Interest Period by
(ii) a percentage equal to 1 minus the stated
maximum rate (stated as a decimal) of all reserves, if any, required to be
maintained against Eurocurrency Liabilities and (c) in relation to any Loan
denominated in Sterling, for any Interest Period, the rate obtained by dividing
(i) the applicable LIBOR Rate for such Interest Period by (ii) a percentage
equal to 1 minus the stated
maximum rate (stated as a decimal) of all reserves, if any, required to be
maintained against Eurocurrency Liabilities.

     

    “Eurocurrency Rate Loan” means
a Loan, whether denominated in Dollars, Sterling or in Euros, that bears
interest at a rate based on the Eurocurrency Rate and a Swing Line Loan
denominated in an Alternative Currency.

     

    “European Administrative Agent”
has the meaning set forth in the definition of “Administrative
Agent”.

     

    “European Revolving Credit
Loan” has the meaning set forth in Section 2.01(e).

     

    “European Swing Line Borrowing”
means a borrowing of a European Swing Line Loan pursuant to Section
2.04(c).

     

    “European Swing Line Facility”
means the swing line loan facility made available by the European Swing Line
Lender pursuant to Section 2.04(b).

     

    
      
        
           

        

        
          -25-

          
            

          

        

        
           

        

      

    

     

    “European Swing Line Lender”
means Citibank, N.A., London Branch, in its capacity as provider of European
Swing Line Loans, or any successor swing line lender hereunder.

     

    “European Swing Line Loan” has
the meaning set forth in Section 2.04(b).

     

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

     

    “European Swing Line Note”
means a promissory note of the Non-U.S. Borrowers payable to the European Swing
Line Lender or its registered assigns, in substantially the form of Exhibit C-6,
evidencing the aggregate Indebtedness of such Borrower to such European Swing
Line Lender resulting from the European Swing Line Loans.

     

    “European Swing Line
Obligations” means, as at any date of determination, the aggregate
principal amount of all European Swing Line Loans outstanding.

     

    “Event of Default” has the
meaning set forth in Section 8.01.

     

    “Excess Cash Flow” means, with
respect to the Company and its Restricted Subsidiaries for any Fiscal Year, an
amount equal to:

     

    (a)           the
sum, without duplication, of

     

    (i)           Consolidated
Net Income,

     

    (ii)           an
amount equal to all non-cash charges and losses to the extent deducted in
arriving at such Consolidated Net Income, and

     

    (iii)           decreases
in Consolidated Working Capital not paid into the Working Capital Reserve
Account (other than any such decreases arising from changes from on balance
sheet to off balance sheet treatment of Receivables Financings or acquisitions
or dispositions by the Company and its Restricted Subsidiaries completed during
such period) minus

     

    (b)           the
sum, without duplication, of

     

    (i)           an
amount equal to all non-cash credits and gains to the extent included in
arriving at such Consolidated Net Income and cash charges included in the
definition of “Consolidated Net Income,”

     

    (ii)          the
aggregate amount of Capital Expenditures made in cash or accrued during such
period, but only to the extent such Capital Expenditures were financed (without
duplication) other than with the substantially concurrent receipt of Externally
Generated Funds or with any Carry-Forward Amount (provided that, to the extent
that such Carry-Forward Amount is not fully utilized in the immediately
succeeding Fiscal Year, Excess Cash Flow during such immediately succeeding
Fiscal Year shall be increased by the amount of such Carry-Forward Amount that
was not fully utilized in cash to make Capital Expenditures during such Fiscal
Year),

     

    (iii)          the
aggregate amount of all principal payments of Indebtedness and (to the extent
not deducted in arriving at such Consolidated Net Income) fees, premiums and
similar amounts of the Company and the Restricted Subsidiaries (provided that fees, premiums
and other payments in respect of Indebtedness, other than principal and
interest, that reduces Excess Cash Flow pursuant to this clause (b)(iii) shall
reduce the Applicable Amount), in each case, financed other than with the
substantially concurrent receipt of Externally Generated Funds (including (A)
the principal component of payments in respect of Capitalized Leases and
(B) the amount of any scheduled repayment of Loans pursuant to Section
2.07), but excluding (X) all voluntary prepayments of Term Loans and
(Y) all prepayments of Revolving Credit Loans, the Asset Backed Credit
Facility and Swing Line Loans made during such period),

     

    
      
        
           

        

        
          -26-

          
            

          

        

        
           

        

      

    

     

    (iv)          increases
in Consolidated Working Capital for such period (other than any such increases
arising from changes from off-balance sheet to on-balance sheet treatment of
Receivables Financings or acquisitions or dispositions by the Company and the
Restricted Subsidiaries completed during such period),

     

    (v)          the
amount of Investments and acquisitions made in cash during such period to
finance Investments permitted by Sections 7.02(e) but only in respect of Solvay
Engineered Polymers, Inc., (g), (m) (but only to the extent reducing
Consolidated Working Capital), (n), (o), (p), (q) and (t) to the extent that
such Investments and acquisitions were financed other than with the
substantially concurrent receipt of Externally Generated Funds or with
Investments and acquisitions the Company or any Restricted Subsidiary is
obligated to make pursuant to a binding agreement but that are not made during
such period; provided
that such Investment is made not later than 180 days after the end of such
period and financed other than with the substantially concurrent receipt of
Externally Generated Funds and that such Investments and/or acquisitions when
made shall not reduce Excess Cash Flow for such subsequent period,

     

    (vi)         Transaction
Expenses of $20,000,000 and original issue discount in connection with the
Transactions, each to be deducted from Excess Cash Flow for the Fiscal Year
ending December 31, 2008,

     

    (vii)          to
the extent not already otherwise deducted in calculating Consolidated Net
Income, the cash amount of management fees and transaction advisory fees paid
(including by way of dividend) to the Sponsor during such period but not
including payments under the Tax Sharing Agreement (provided that such payments
shall reduce the Applicable Amount),

     

    (viii)       the
amount of cash taxes paid in such period to the extent they exceed the amount of
tax expense deducted in determining Consolidated Net Income for such period,
and

     

    (ix)          to
the extent not otherwise deducted in calculating Consolidated Net Income, all
break fees, prepayment or make-whole premium or penalty payments, associated
hedging break costs and premiums for replacement hedging fees, plus fees and
expenses, in each case, to the extent paid in cash and reasonably incurred in
connection with a Permitted Refinancing or any other prepayment of Indebtedness
during such period.

     

    “Exchange Act” means the
Securities Exchange Act of 1934, as amended, or any successor statute or
statutes thereto.

     

    
      
        
           

        

        
          -27-

          
            

          

        

        
           

        

      

    

     

    “Exchange Rate” means on any
day with respect to any currency other than Dollars, the rate at which such
currency may be exchanged into Dollars, as set forth at approximately 11:00 a.m.
(London time) on such day on the Reuters World Currency Page for such currency;
in the event that such rate does not appear on any Reuters World Currency Page,
the Exchange Rate shall be determined by reference to such other publicly
available service for displaying exchange rates as may be agreed upon by the
Administrative Agent and the Company, or, in the absence of such agreement, such
Exchange Rate shall instead be the arithmetic average of the spot rates of
exchange of the Administrative Agent in the market where its foreign currency
exchange operations in respect of such currency are then being conducted, at or
about 10:00 a.m. (New York City time) on such date for the purchase of Dollars
for delivery two Business Days later.

     

    “Excluded Capital Expenditures”
means (i) any expenditures required by any change in applicable Law, and
(ii) any catalyst or turnaround expenditures that are not treated as
capital expenditure consistent with the accounting practices of Lyondell on the
Original Closing Date.

     

    “Excluded Subsidiary” means (a)
any Subsidiary that is not a Wholly Owned Subsidiary (for so long as such
Subsidiary remains a non-Wholly Owned Subsidiary), (b) each Subsidiary of a
Guarantor listed on Schedule 1.1B and any
successor entity and each Subsidiary that is not a Material Subsidiary, in each
case, for so long as such Subsidiary is not a Material Subsidiary, (c) any
Subsidiary that is prohibited by applicable Law, or contractual restrictions or
any of the other matters referred to in the Agreed Security Principles, from
guaranteeing the Obligations and (d) any other Subsidiary with respect to
which, in the reasonable judgment of the Administrative Agent and the Company,
the cost or other consequences (including any adverse tax consequences) of
providing a Guarantee shall be excessive in view of the benefits to be obtained
by the Lenders therefrom or which would otherwise contravene the Agreed Security
Principles.

     

    “Excluded Taxes” means, in the
case of each Lender and Agent (including, for purposes of this definition, any
sub-agent appointed pursuant to Section 9.02),

     

    (a)           taxes
imposed on or measured by its net income (or branch profits), and franchise or
capital taxes imposed on it in lieu of net income taxes, in each case (i) 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, (ii) by
reason of any other connection between the jurisdiction imposing such tax and
such Agent or Lender (or its applicable Lending Office) other than any
connections arising solely from such Agent or Lender (or its applicable Lending
Office) having executed, delivered, been party to, received or perfected a
security interest under or performed its obligations under, received payment
under or enforced, this Agreement or any other Loan Document, or (iii) under §
49 para. 1 Nr. 5 lit. c (aa) of the German Income Tax Act by virtue of the
Lender having security over German-situs real estate (inländischen Grundbesitz) or
over rights subject to the civil law provisions applicable to real estate (inländische Rechte, die den
Vorschriften des bürgerlichen Rechts über Grundstücke
unterliegen);

     

    (b)           in
the case of a Foreign Lender or Foreign Agent other than an assignee pursuant to
a request by the Borrowers’ Agent under Section 3.07,

     

    (i)           with
respect to any Loan to the U.S. Borrower, any U.S. federal withholding tax that
is imposed on amounts payable to or for the account of a Foreign Lender or
Foreign Agent pursuant to a law in effect at the time such Foreign Lender or
Foreign Agent becomes a party hereto (or designates a new Lending Office),
except to the extent that such Foreign Lender or Foreign Agent (or its assignor,
if any) was entitled, immediately prior to the time of designation of a new
Lending Office (or assignment), to receive additional amounts from the U.S.
Borrower with respect to such withholding tax pursuant to Section 3.01; provided that this subclause
(b)(i) shall not apply to any tax imposed on a Foreign Lender in connection with
an interest or participation in any Loan or other obligation that such Foreign
Lender was required to acquire pursuant to Section 8.05,

     

    
      
        
           

        

        
          -28-

          
            

          

        

        
           

        

      

    

    

    
 

     

    (ii)          with
respect to any Loan to the German Borrower, any withholding taxes imposed by
Germany on amounts payable to or for the account of a Foreign Lender or Foreign
Agent pursuant to a law in effect at the time such Foreign Lender or Foreign
Agent becomes a party hereto (or designates a new lending office), except to the
extent that such Foreign Lender or Foreign Agent (or its assignor, if any) was
entitled, immediately prior to the time of designation of a new lending office
(or assignment), to receive additional amounts from the German Borrower with
respect to such withholding tax pursuant to Section 3.01; provided that this subclause
(b)(ii) shall not apply to any tax imposed on a Foreign Lender in connection
with an interest or participation in any Loan or other obligation that such
Foreign Lender was required to acquire pursuant to Section 8.05, or

     

    (iii)          any
withholding tax that is attributable to such Foreign Lender or Foreign Agent’s
failure to comply with Section 3.01(d);

     

    (c)           any
withholding tax imposed on payments to a Lender by the German tax authorities
under § 50a para. 7 German Income Tax Act as in effect at the time such
Lender becomes a party hereto by virtue of the Lender having security over
German-situs real estate (inländischen Grundbesitz) or
over rights subject to the civil law provisions applicable to real estate (inländische Rechte, die den
Vorschriften des bürgerlichen Rechts über Grundstücke unterliegen),
except to the extent that such Lender (or its assignor, if any) was entitled,
immediately prior to the time of an assignment, to receive additional amounts
from any Borrower with respect to such withholding tax pursuant to Section 3.01;
provided that this
subclause (c) shall not apply to any tax imposed on a Lender in connection with
an interest or participation in any Loan or other obligation that such Lender
was required to acquire pursuant to Section 8.05; or

     

    (d)           any
U.S. federal backup withholding imposed under Section 3406 of the
Code.

     

    “Executive Order” has the
meaning set forth in the definition of “Anti-Terrorism Laws.”

     

    “Existing Indebtedness” means
the Indebtedness permitted by Section 7.03(b).

     

    “Existing Letters of Credit”
means the letters of credit outstanding on the Original Closing Date, as set
forth on Schedule
1.01E.

     

    “Existing Notes” means,
collectively, the 2015 Notes, the 2027 Notes, the 101⁄2% Senior Secured Notes due
2013 of Lyondell, the 8% Senior Unsecured Notes due 2014 of Lyondell, the 81⁄4%
Senior Unsecured Notes due 2016 of Lyondell, the 6.875% Senior Unsecured Notes
due 2017 of Lyondell, the 2010 Debentures, the 9.8% Debentures due 2020 of
Lyondell, the 101⁄8% Senior Unsecured Notes due 2008 of Equistar Chemicals, LP,
the 101⁄8% Senior Unsecured Notes due 2011 of Equistar Chemicals, LP, the 7.55%
Debentures due 2026 of Equistar Chemicals, LP, the Millennium Notes and the 83⁄4%
Unsecured Notes due 2009 of Equistar Chemicals, LP, in each case to the extent
outstanding on the Original Closing Date and the 4% Convertible Debentures due
2023 of Millennium Chemicals Inc. (to the extent not converted on the Original
Closing Date).

     

    
      
        
           

        

        
          -29-

          
            

          

        

        
           

        

      

    

     

    “Existing Senior Credit
Facilities” means the Facilities Agreement dated May 3, 2007 among
the Company, certain of its Subsidiaries, ABN AMRO Bank N.V., Citigroup Global
Markets Limited and ING Bank N.V.

     

    “Externally Generated Funds”
means the net proceeds of (a) Financial Indebtedness, (b) issuance of
or contribution to Equity Interests (c) Dispositions or (d) Casualty Events, in
each case of or by the Company or its Restricted Subsidiaries.

     

    “Facility” means the U.S.
Tranche A Dollar Term Loans, the U.S. Tranche B-1 Dollar Term Loans, the U.S.
Tranche B-2 Dollar Term Loans, the U.S. Tranche B-3 Dollar Term Loans, the Dutch
Tranche A Dollar Term Loans, the German Tranche B-1 Euro Term Loans, the German
Tranche B-2 Euro Term Loans, the German Tranche B-3 Euro Term Loans, the
Revolving Credit Facilities, the Swing Line Sublimit, the Primary Letter of
Credit Sublimit or the Dutch Letter of Credit Sublimit, as the context may
require.

     

    “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 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 Citibank, N.A. on such day on such transactions as determined by the
Administrative Agent.

     

    “Fee Letter” has the meaning
set forth in the definition of “Loan Documents.”

     

    “Financial Indebtedness” means
(without duplication), at any time, the principal amount of Indebtedness of the
Company and its Restricted Subsidiaries outstanding at such time, referred to in
paragraphs (a), (b), (f), (h) and (i) of the definition of Indebtedness (but, as
to such clause (i), only in respect of paragraphs (a), (b), (f) and (h) of such
definition).

     

    “Fiscal Year” means the twelve
month fiscal period of the Company and its Subsidiaries commencing on January 1
of each calendar year and ending on December 31 of such calendar year unless
amended pursuant to Section 7.12.

     

    “First Lien Senior Secured Leverage
Ratio” means, with respect to any Test Period, the ratio of (a)
Consolidated First Lien Senior Secured Debt as of the last day of such Test
Period to (b) Consolidated EBITDA for such Test Period.

     

    “Foreign Agent” means, for
purposes of the Tax in question, an Agent that is treated as foreign by the
jurisdiction imposing such Tax.

     

    “Foreign Lender” means, for
purposes of the Tax in question, a Lender that is treated as foreign by the
jurisdiction imposing such Tax.

     

    “Foreign Plan” means any
employee benefit plan, program, policy, arrangement or agreement maintained or
contributed to by, or entered into with, a Loan Party or any Subsidiary with
respect to employees employed outside the United States.

     

    
      
        
           

        

        
          -30-

          
            

          

        

        
           

        

      

    

     

    “Foreign Subsidiary” means any
direct or indirect Restricted Subsidiary of the Company which is not a Domestic
Subsidiary.

     

    “FRB” means the Board of
Governors of the Federal Reserve System of the United States, or any
Governmental Authority succeeding to any of its principal
functions.

     

    “French Civil Code” means Code
civil of France.

     

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

     

    “Funded Debt” means all
Indebtedness of the Company and its Restricted Subsidiaries for borrowed money
that matures more than one year from the date of its creation or matures within
one year from such date that is renewable or extendable, at the option of such
Person, to a date more than one year from such date or arises under a revolving
credit or similar agreement that obligates the lender or lenders to extend
credit during a period of more than one year from such date, including
Indebtedness in respect of the Loans.

     

    “GAAP” means generally accepted
accounting principles in the United States of America as in effect from time to
time as adopted by the Company; provided that the Company may
make a one-time election to switch to IFRS, if permitted to do so by the SEC in
its filings with the SEC, and following such election and the notification in
writing to the Administrative Agent by the Company thereof, “GAAP” shall mean
IFRS.  After such election, the Company cannot subsequently elect to
report under U.S. generally accepted accounting principles.  If at any
time the Company or the Borrowers’ Agent notifies the Administrative Agent in
writing that the Company wishes to eliminate the effect of any change in GAAP on
any provision of this Agreement, then such provision shall be applied on the
basis of GAAP as in effect immediately before the relevant change in GAAP became
effective until either such notice is withdrawn or such provision is amended in
a manner satisfactory to the Borrowers’ Agent and the Required
Lenders.

     

    “German Borrower” has the
meaning set forth in the introductory paragraph to this Agreement.

     

    “German Tranche B Euro Term
Commitment”  means, (i) as of the Original Closing Date (prior
to giving effect to this amendment and restatement) with respect to each Lender,
the amount set forth opposite such Lender’s name on Schedule 1.01A to the
Original Credit Agreement under the caption “German Tranche B Euro Term
Commitment” and (ii) as of the Amendment Effective Date with respect to each
Lender, such Lender’s German Tranche B-1 Euro Term Commitment, German Tranche
B-2 Euro Term Commitment and German Tranche B-3 Euro Term
Commitment.

     

    “German Tranche B Euro Term
Lender” means, at any time, any Lender that has a German Tranche B Euro
Term Commitment or a German Tranche B Euro Term Loan at such time.

     

    “German Tranche B Euro Term
Loan” means any German Tranche B-1 Euro Term Loan, German Tranche B-2
Euro Term Loan or German Tranche B-3 Euro Term Loan.

     

    “German Tranche B Euro Term Loan
Repayment Amount” means the German Tranche B-1 Euro Term Loan Repayment
Amount, German Tranche B-2 Euro Term Loan Repayment Amount and German Tranche
B-3.

     

    
      
        
           

        

        
          -31-

          
            

          

        

        
           

        

      

    

     

    “German Tranche B-1 Euro Term
Commitment” means, as to each German Tranche B-1 Euro Term Lender, its
German Tranche B-1 Euro Term Loans in the amount set forth opposite such
Lender’s name on Schedule 1.01A under
the caption “German Tranche B-1 Euro Term Commitment” or in the Assignment and
Assumption pursuant to which such German Tranche B-1 Euro Term Lender becomes a
party hereto, as applicable, as such amount may be adjusted from time to time in
accordance with this Agreement (including Section 2.14).  The
aggregate amount of the German Tranche B-1 Euro Term Commitments as of the
Amendment Effective Date is €433,333,333.

     

    “German Tranche B-1 Euro Term
Lender” means, at any time, any Lender that has a German Tranche B-1 Euro
Term Commitment or a German Tranche B-1 Euro Term Loan at such
time.

     

    “German Tranche B-1 Euro Term
Loan” shall have the meaning set forth in Section 2.01(d).

     

    “German Tranche B-1 Euro Term Loan
Repayment Amount” has the meaning set forth in Section
2.07(d).

     

    “German Tranche B-1 Euro Term
Note” means a promissory note of the German Borrower payable to any
German Tranche B-1 Euro Term Lender or its registered assigns, in substantially
the form of Exhibit
C-4-I, evidencing the aggregate Indebtedness of the Company to such
German Tranche B-1 Euro Term Lender resulting from the German Tranche B-1 Euro
Term Loans made by such German Tranche B-1 Euro Term Lender.

     

    “German Tranche B-2 Euro Term
Commitment” means, as to each German Tranche B-2 Euro Term Lender, its
German Tranche B-2 Euro Term Loans in the amount set forth opposite such
Lender’s name on Schedule 1.01A under
the caption “German Tranche B-2 Euro Term Commitment” or in the Assignment and
Assumption pursuant to which such German Tranche B-2 Euro Term Lender becomes a
party hereto, as applicable, as such amount may be adjusted from time to time in
accordance with this Agreement (including Section 2.14).  The
aggregate amount of the German Tranche B-2 Euro Term Commitments as of the
Amendment Effective Date is €433,333,334.

     

    “German Tranche B-2 Euro Term
Lender” means, at any time, any Lender that has a German Tranche B-2 Euro
Term Commitment or a German Tranche B-2 Euro Term Loan at such
time.

     

    “German Tranche B-2 Euro Term
Loan” shall have the meaning set forth in Section 2.01(d).

     

    “German Tranche B-2 Euro Term Loan
Repayment Amount” has the meaning set forth in Section
2.07(d).

     

    “German Tranche B-2 Euro Term
Note” means a promissory note of the German Borrower payable to any
German Tranche B-2 Euro Term Lender or its registered assigns, in substantially
the form of Exhibit
C-4-II, evidencing the aggregate Indebtedness of the Company to such
German Tranche B-2 Euro Term Lender resulting from the German Tranche B-2 Euro
Term Loans made by such German Tranche B-2 Euro Term Lender.

     

    “German Tranche B-3 Euro Term
Commitment” means, as to each German Tranche B-3 Euro Term Lender, its
German Tranche B-3 Euro Term Loans in the amount set forth opposite such
Lender’s name on Schedule 1.01A under
the caption “German Tranche B-3 Euro Term Commitment” or in the Assignment and
Assumption pursuant to which such German Tranche B-3 Euro Term Lender becomes a
party hereto, as applicable, as such amount may be adjusted from time to time in
accordance with this Agreement (including Section 2.14).  The
aggregate amount of the German Tranche B-3 Euro Term Commitments as of the
Amendment Effective Date is €433,333,333.

     

    
      
        
           

        

        
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    “German Tranche B-3 Euro Term
Lender” means, at any time, any Lender that has a German Tranche B-3 Euro
Term Commitment or a German Tranche B-3 Euro Term Loan at such
time.

     

    “German Tranche B-3 Euro Term
Loan” shall have the meaning set forth in Section 2.01(d).

     

    “German Tranche B-3 Euro Term Loan
Repayment Amount” has the meaning set forth in Section
2.07(d).

     

     “German Tranche B-3 Euro Term
Note” means a promissory note of the German Borrower payable to any
German Tranche B-3 Euro Term Lender or its registered assigns, in substantially
the form of Exhibit
C-4-III, evidencing the aggregate Indebtedness of the Company to such
German Tranche B-3 Euro Term Lender resulting from the German Tranche B-3 Euro
Term Loans made by such German Tranche B-3 Euro Term Lender.

     

    “Governmental Authority” means
any nation or government, any state or other political subdivision thereof, any
agency, authority, instrumentality, regulatory body, court, administrative
tribunal, central bank or other entity exercising executive, legislative,
judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government.

     

    “Granting Lender” has the
meaning set forth in Section 10.07(g).

     

    “Guarantee” means, as to any
Person, without duplication, (a) any obligation, contingent or otherwise, of
such Person guaranteeing or having the economic effect of guaranteeing any
Indebtedness or other monetary 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 monetary obligation, (ii) to purchase or lease property, securities or
services for the purpose of assuring the obligee in respect of such Indebtedness
or other monetary obligation of the payment or performance of such Indebtedness
or other monetary 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 monetary obligation, or (iv) entered into for the purpose
of assuring in any other manner the obligee in respect of such Indebtedness or
other monetary 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 monetary
obligation of any other Person, whether or not such Indebtedness or monetary
other obligation is assumed by such Person (or any right, contingent or
otherwise, of any holder of such Indebtedness to obtain such Lien); provided that the term
“Guarantee” shall not include endorsements for collection or deposit, in either
case in the ordinary course of business, or customary and reasonable indemnity
obligations in effect on the Original Closing Date or entered into in connection
with any acquisition or disposition of assets permitted under this Agreement
(other than such obligations with respect to Indebtedness).  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.

     

    “Guaranteed Obligations” has
the meaning set forth in Section 11.01.

     

    “Guarantors” has the meaning
set forth in the definition of “Collateral and Guarantee
Requirement.”

     

    
      
        
           

        

        
          -33-

          
            

          

        

        
           

        

      

    

     

    “Guaranty” means, collectively,
the guaranty of the Obligations by the Guarantors pursuant to this
Agreement.

     

    “Hazardous Materials” means all
materials, chemicals, substances, wastes, pollutants, contaminants, constituents
and compounds of any nature or in any form, including petroleum or petroleum
distillates, asbestos or asbestos-containing materials, polychlorinated
biphenyls, radon gas or mold that are regulated pursuant to, or can give rise to
liability under, any applicable Environmental Law.

     

    “Hedge Bank” means any Person
that is a Lender or an Affiliate of a Lender on the Original Closing Date or at
the time it enters into a Secured Hedge Agreement or a Treasury Services
Agreement, as applicable, in its capacity as a party thereto, and, in the case
of a Person that is not a Lender but an Affiliate of a Lender, that delivers to
the Administrative Agent a letter agreement reasonably satisfactory to it (i)
appointing the Collateral Agent as its agent under the applicable Loan Documents
and (ii) agreeing to be bound by Section 9.06 and 10.15 as if it were a
Lender.

     

    “Holding Company” means, in
relation to a company, corporation or other legal entity, any other company,
corporation or other legal entity in respect of which the former company,
corporation or other legal entity is a Subsidiary.

     

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

     

    “IFRS” means the International
Financial Reporting Standards issued and/or adopted by the International
Accounting Standards Board, as in effect from time to time.

     

    “Incremental Amendment” has the
meaning set forth in Section 2.14(d).

     

    “Incremental Facility Closing
Date” has the meaning set forth in Section 2.14(d).

     

    “Incremental Term Loans” has
the meaning set forth in Section 2.14(a).

     

    “Indebtedness” means, as to any
Person at any time, without duplication, all of the following:

     

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

     

    (b)           the
maximum amount (after giving effect to any prior drawings or reductions which
may have been reimbursed) of all outstanding letters of credit (including
standby and commercial), bankers’ acceptances, bank guaranties, surety bonds,
performance bonds and similar instruments issued or created by or for the
account of such Person;

     

    (c)           net
obligations of such Person under any Swap Contract;

     

    (d)           all
obligations of such Person issued or assumed as the deferred purchase price of
property that is due more than six months after taking delivery of such
property, all conditional sale obligations and all obligations under any title
retention agreement (but excluding trade accounts payable and other accrued
liabilities arising in the ordinary course of business that are not overdue by
90 days or more or are being contested in good faith by appropriate
proceedings promptly instituted and diligently conducted);

     

    (e)           all
obligations of any third party of the type referred to in clauses (a), (b), (c),
(d), (f) and (h) of this definition which are secured by any lien on any
property or asset of such Person, the amount of such obligation being deemed to
be the lesser of the fair market value of such property or asset or the amount
of the obligation so secured;

     

    
      
        
           

        

        
          -34-

          
            

          

        

        
           

        

      

    

    

    

     

    (f)           all
Receivables Financings, Securitization Transactions and obligations under Asset
Backed Credit Facilities;

     

    (g)           all
Disqualified Equity Interests issued by such Person or preferred stock issued by
a Restricted Subsidiary of such Person with the amount of Indebtedness
represented by such Disqualified Equity Interests or preferred stock being equal
to the greater of its voluntary or involuntary liquidation preference and its
maximum fixed repurchase price, but excluding accrued dividends, if
any.  For purposes hereof, the “maximum fixed repurchase price” of any
Disqualified Equity Interests or preferred stock which do not have a fixed
repurchase price shall be calculated in accordance with the terms of such
Disqualified Equity Interests or preferred stock as if such Disqualified Equity
Interests or preferred stock were purchased on any date on which Indebtedness
shall be required to be determined pursuant to the this Agreement, and if such
price is based upon, or measured by, the fair market value of such Disqualified
Equity Interests or preferred stock, such fair market value shall be determined
reasonably and in good faith by the Board of Directors of the issuer of such
Disqualified Equity Interests or preferred stock; and

     

    (h)           all
Capitalized Leases of such Person;

     

    if and to
the extent that the foregoing would constitute indebtedness or a liability in
accordance with GAAP; and

     

    (i)           to
the extent not otherwise included above, all Guarantees of any third party’s
Indebtedness in respect of any of the foregoing clauses.

     

    Notwithstanding
the foregoing, “Indebtedness” shall not include:

     

    (1)           advances
paid by customers in the ordinary course of business for services or products to
be provided or delivered in the future,

     

    (2)           deferred
taxes,

     

    (3)           unsecured
indebtedness of such Person incurred to finance insurance premiums in a
principal amount not in excess of the insurance premiums to be paid by such
Person and its Restricted Subsidiaries for a three-year period beginning on the
date of any incurrence of such indebtedness,

     

    (4)           Indebtedness
owed or incurred by any Restricted Subsidiary whose activities are limited to
holding shares in Joint Venture(s) (but only to the extent that (a) the
creditors under the relevant agreement have no recourse to the Company other
than such Restricted Subsidiary; and (b) the recourse those creditors have
to such Restricted Subsidiary is limited to the proceeds (if any) of dividends
received by such Restricted Subsidiary in respect of such Restricted
Subsidiary’s investment in such Joint Venture),

     

    (5)           non-recourse
Indebtedness permitted by Section 7.03(t) collateralized by any Limited Recourse
Stock Pledge or any non-recourse guarantee given solely to support such
pledge,

     

    
      
        
           

        

        
          -35-

          
            

          

        

        
           

        

      

    

     

    (6)           any
Indebtedness which has been defeased in accordance with GAAP or defeased
pursuant to the deposit of cash or government obligations (in an amount
sufficient to satisfy all such Indebtedness at the Stated Maturity thereof or
redemption, as applicable, and all payments of interest and premium, if any) in
a trust or account created or pledged for the sole benefit of the holders of
such Indebtedness, and subject to no other Liens, and other applicable terms of
the instrument governing such Indebtedness or

     

    (7)           Indebtedness
for which irrevocable notice of redemption has been duly given and for which
redemption money in the necessary amount has been irrevocably deposited with the
applicable trustee or paying agent in trust for the holders of such
Indebtedness.

     

    Notwithstanding
the foregoing, any accrual of interest, accrual of dividends, the accretion of
value, the obligation to pay commitment fees and the payment of interest in the
form of Indebtedness shall not be “Indebtedness” for the purposes of Section
7.03 only.

     

    “Indemnified Liabilities” has
the meaning set forth in Section 10.05.

     

    “Indemnified Taxes” means all
Taxes other than Excluded Taxes.

     

    “Indemnitees” has the meaning
set forth in Section 10.05.

     

    “Independent Financial Advisor”
means a firm which, in the judgment of the Board of Directors of the Company, is
independent and qualified to perform the task for which it is to be
engaged.

     

    “Information” has the meaning
set forth in Section 10.08.

     

    “Intercreditor Agreement” means
the Cash Flow Intercreditor Agreement or the ABL Intercreditor Agreement, as the
context requires.

     

    “Interest Payment Date” means
(a) as to any Eurocurrency Rate Loan, the last day of each Interest Period
applicable to such Loan and the Maturity Date of the Facility under which such
Loan was made; provided
that if any Interest Period for a Eurocurrency 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; (b) as to any Base Rate
Loan (including a Swing Line Loan denominated in Dollars), fifth Business Day
after the last day of each March, June, September and December and the Maturity
Date of the Facility under which such Loan was made; and (c) as to any Swing
Line Loan denominated in any Alternative Currency, the date of the repayment of
such Swing Line Loan and the Maturity Date of the Revolving Credit
Facility.

     

    “Interest Period” means, the
period commencing on the date each Eurocurrency Rate Loan is disbursed or
converted to or continued as a Eurocurrency Rate Loan and ending one week, or
one, two, three or six months or, if agreed by each Lender of that Eurocurrency
Rate Loan, nine or twelve months thereafter, as selected by the Borrowers’ Agent
in its Committed 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;

     

    
      
        
           

        

        
          -36-

          
            

          

        

        
           

        

      

    

     

    (iii)          no
Interest Period shall extend beyond the Maturity Date of the Facility under
which such Loan was made; and

     

    (iv)          on
the Original Closing Date, the Borrowers shall elect six successive Interest
Periods of one week.

     

    “Investment” means, with
respect to any Person, any direct or indirect loan or other extension of credit
(including a guarantee) or capital contribution (with respect to such loan,
extension of credit or capital contribution, by means of any transfer of cash or
other property to others or any payment for property or services for the account
or  use of others), or any purchase or acquisition by such Person of
any Equity Interest, bonds, notes, debentures or other securities or other
Indebtedness issued by, any other Person.  “Investment” excludes (i)
extensions of trade credit, (ii) commissions, loans, advances, fees and
compensation paid in the ordinary course of business to officers, directors and
employees, and (iii) reimbursement or payment obligations in respect of letters
of credit and tender, bid, performance, government contract, surety and appeal
bonds, in each case solely with respect to obligations of the Company or any of
its Restricted Subsidiaries in accordance with the normal trade practices of the
Company or such Restricted Subsidiary, as the case may be.  For the
purposes of Section 7.06,

     

    (1)          “Investment”
shall include and be valued at the fair market value of the net assets of any
Restricted Subsidiary of the Company at the time that such Restricted Subsidiary
is designated an Unrestricted Subsidiary and shall exclude the fair market value
of the net assets of any Unrestricted Subsidiary at the time that such
Unrestricted Subsidiary is designated a Restricted Subsidiary of the Company;
and

     

    (2)          the
amount of any Investment in any Person is the original cost of such Investment
plus the cost of all additional Investments therein by the Company or any of its
Restricted Subsidiaries, without any adjustments for increases or decreases in
value, or write-ups, write-downs or write-offs with respect to such Investment,
reduced by the payment of dividends or distributions in connection with such
Investment or any other amounts received in respect of such
Investment;

     

    provided that no such payment
of dividends or distributions or receipt of any such other amounts shall reduce
the amount of any Investment if such payment of dividends or distributions or
receipt of any such amounts would be included in Consolidated Net
Income.

     

    If the
Company or any Restricted Subsidiary sells or otherwise disposes of any voting
Equity Interests of any direct or indirect Restricted Subsidiary of the Company
such that, after giving effect to any such sale or disposition, the Company no
longer owns, directly or indirectly, greater than 50% of the outstanding voting
Equity Interests of such Restricted Subsidiary, the Company will be deemed to
have made an Investment on the date of any such sale or disposition equal to the
fair market value of the common Equity Interests of such Restricted Subsidiary
not sold or disposed of.

     

    “IP Rights” has the meaning set
forth in Section 5.17.

     

    “Joint Venture” means any joint
venture entity, whether a company, unincorporated firm, association, partnership
or any other entity which, in each case, is not a Subsidiary of the Company or
any of its Restricted Subsidiaries but in which a the Company or a Restricted
Subsidiary has a direct or indirect equity or similar interest.

     

    
      
        
           

        

        
          -37-

          
            

          

        

        
           

        

      

    

     

    “Judgment Currency” has the
meaning set forth in Section 10.18.

     

    “Junior Financing” has the
meaning set forth in Section 7.13(a).

     

    “Junior Financing
Documentation” means any documentation governing any Junior
Financing.

     

    “Laws” means, as to any Person,
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
binding on such Person or to which such Person or any of its property or assets
is subject.

     

    “L/C Advances” means the
collective reference to Primary L/C Advances and Dutch L/C
Advances.

     

    “L/C Borrowing” means the
collective reference to Primary L/C Borrowings and Dutch L/C
Borrowings.

     

    “L/C Credit Extensions” means
the collectively reference to the Primary L/C Credit Extensions and the Dutch
L/C Credit Extensions.

     

    “L/C Issuer” means ABN AMRO
Bank, N.V. and any other Lender that becomes an issuer of a Letter of Credit in
accordance with Section 2.03(k) or 10.07(i), in each case, in its capacity as an
issuer of Letters of Credit hereunder, or any successor issuer of Letters of
Credit hereunder.

     

    “L/C Obligations” means, the
collective reference to the Primary L/C Obligations and the Dutch L/C
Obligations.

     

    “Legal Reservations”
means:

     

    (a)           the
principle that equitable remedies may be granted or refused at the discretion of
a court;

     

    (b)           the
limitation of enforcement by laws relating to insolvency, reorganization,
penalties and other laws generally affecting the rights of
creditors;

     

    (c)           the
time barring of claims under the statutes of limitation;

     

    (d)           the
possibility that an undertaking to assume liability for or indemnify a person
against non-payment of UK stamp duty may be void;

     

    (e)           defenses
of set-off or counterclaim; and

     

    (f)           principles
which are set out in the qualifications as to matters of law in any legal
opinion delivered on the Original Closing Date in connection with this
Agreement.

     

    “Lender” has the meaning set
forth in the introductory paragraph to this Agreement and, unless otherwise
expressly provided, includes an L/C Issuer and a Swing Line Lender, and their
respective successors and assigns as permitted hereunder, each of which is
referred to herein as a “Lender,” together with, in each case, any Affiliate of
any such financial institution through which such financial institution elects,
by notice to the Administrative Agent, to make any Loans available to any
Borrower; provided
that, for all purposes of voting or consenting with respect to (a) any
amendment, supplementation or modification of any Loan Document, (b) any waiver
of any requirements of any Loan Document or any Default or Event of Default and
its consequences, or (c) any other matter as to which a Lender may vote or
consent pursuant to Section 10.01 of this Agreement, the financial institution
making such election shall be deemed the “Lender” rather than such Affiliate,
which shall not be entitled to vote or consent (it being agreed that failure of
any such Affiliate to fund an obligation under this Agreement shall not relieve
its affiliated financial institution from funding).  “Lender” means,
at any time, any Dutch Tranche A Dollar Term Lender, U.S. Tranche A Dollar Term
Lender, U.S. Tranche B Dollar Term Lender, German Tranche B Euro Term Lender or
Revolving Credit Lender, unless otherwise expressly provided.

     

    
      
        
           

        

        
          -38-

          
            

          

        

        
           

        

      

    

     

    “Lending Office” means, as to
any Lender, such office or offices as a Lender may from time to time notify the
Borrowers’ Agent and the Administrative Agent.

     

    “Letters of Credit” means the
collective reference to Primary Letters of Credit and Dutch Letters of
Credit.  A Letter of Credit may be a commercial letter of credit or a
standby letter of credit.

     

    “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 relevant L/C
Issuer.

     

    “Letter of Credit Expiration
Date” means the day that is three (3) Business Days prior to the
scheduled Maturity Date then in effect for the Primary Revolving Credit Facility
(or, if such day is not a Business Day, the next preceding Business
Day).

     

    “LIBOR Rate” means, with
respect to any Interest Period:

     

    (a)           the
rate per annum equal to the rate determined by the Administrative Agent to be
the offered rate that appears on the page of the Dow Jones Market screen (or any
successor thereto) that displays an average British Bankers Association Interest
Settlement Rate for deposits in Dollars, Euros or Sterling (for delivery on the
first day of such Interest Period), with a term equivalent to such Interest
Period, determined as of approximately 11:00 a.m. (London time) two (2) Business
Days prior to the first day of such Interest Period, or, if different, the date
on which quotations would customarily be provided by leading banks in the London
Interbank Market for deposits of amounts in Dollars, Euros or Sterling for
delivery on the first day of such Interest Period, or

     

    (b)           if
the rate referenced in the preceding clause (a) does not appear on such page or
service or such page or service shall not be available, the rate per annum equal
to the rate determined by the Administrative Agent (acting reasonably) to be the
offered rate on such other page or other service that displays an average
British Bankers Association Interest Settlement Rate for deposits in Dollars,
Euros or Sterling (for delivery on the first day of such Interest Period), with
a term equivalent to such Interest Period, determined as of approximately 11:00
a.m. (London time) two (2) Business Days prior to the first day of such Interest
Period, or, if different, the date on which quotations would customarily be
provided by leading banks in the London Interbank Market for deposits of amounts
in Dollars, Euros or Sterling for delivery on the first day of such Interest
Period, or

     

    (c)           if
the rates referenced in the preceding clauses (a) and (b) are not available, the
rate per annum determined by the Administrative Agent as the rate of interest at
which deposits in Dollars, Euros or Sterling for delivery on the first day of
such Interest Period in Same Day Funds in the approximate amount of the
Eurocurrency Rate Loan being made, continued or converted by Citibank, N.A.,
London Branch and with a term equivalent to such Interest Period would be
offered by Citibank, N.A., London Branch to major banks in the London interbank
eurodollar market at their request at approximately 11:00 a.m. (London time) two
(2) Business Days prior to the first day of such Interest Period or, if
different, the date on which quotations would customarily be provided by leading
banks in the London Interbank Market for deposits of amounts in the relevant
currency for delivery on the first day of such Interest Period.

     

    
      
        
           

        

        
          -39-

          
            

          

        

        
           

        

      

    

     

    “Lien” means any mortgage, deed
of trust, pledge, hypothecation, assignment, transfer for security purposes,
deposit arrangement, encumbrance, lien (statutory or other), charge, or
preference, priority or other security interest or preferential arrangement, 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 Capitalized Lease having substantially the same economic
effect as any of the foregoing).

     

    “Limited Recourse Stock Pledge”
means the pledge of the Equity Interests in any joint venture or any Subsidiary
(the “Pledged
Subsidiary”) to secure non-recourse debt of such joint venture or such
Pledged Subsidiary, the activities of which are solely limited to making and
managing Investments, and owning Equity Interests, in such joint venture or
Pledged Subsidiaries, but only for so long as its activities are so
limited.

     

    “Liquidity” means the sum of
(a) the available amount under the Revolving Credit Facilities  plus (b) the amount
available to be advanced under the Asset Backed Credit Facilities (for the
avoidance of doubt after deducting also any amount used for the issuance of
letters of credit from both Revolving Credit Facilities and Asset Backed Credit
Facilities) plus (c) Unrestricted
Cash.

     

    “Listing” means a listing of
all or any of the share capital of the Company or any of its Subsidiaries or any
Holding Company or any of its Subsidiaries (excluding the Sponsor (to the extent
not a Subsidiary of the Company) and any such Holding Company of the Company or
any of its Subsidiaries, but in each case only if a majority of the investments
of such company are not constituted by the Company or any of its Subsidiaries)
on any investment exchange or any other sale or issue by way of flotation or
public offering or any equivalent circumstances in relation to the Company or
any of its Subsidiaries or any Holding Company of the Company or any of its
Subsidiaries (excluding the Sponsor (to the extent not a Subsidiary of the
Company) and any such Holding Company of the Company or any of its Subsidiaries,
but in each case only if a majority of the investments of such company are not
constituted by the Company or any of its Subsidiaries) in any jurisdiction or
county.

     

    “Loan” means a U.S. Tranche A
Dollar Term Loan, U.S. Tranche B Dollar Term Loan, Dutch Tranche A Dollar Term
Loan, German Tranche B Euro Term Loan or Revolving Credit Loan, as the context
may require.

     

    “Loan Documents” means,
collectively, (i) the Original Credit Agreement as amended and restated by this
Agreement, (ii) the Intercreditor Agreement, (iii) the Notes, (iv) the
Collateral Documents and (v) for purposes of Section 8.01(c) only, the Third
Amended and Restated Fee Letter dated as of the Amendment Effective Date by and
among the Company, the Arrangers and the other parties thereto (the “Fee Letter”) and the sixth
through tenth paragraphs of the Amended and Restated Commitment Letter dated as
of October 29, 2007 by and among the Company, the Arrangers and the other
parties thereto (the “Commitment
Letter”).

     

    “Loan Parties” means,
collectively, the Borrowers and the Guarantors.

     

    
      
        
           

        

        
          -40-

          
            

          

        

        
           

        

      

    

     

    “Lyondell” has the meaning set
forth in the introductory paragraph to this Agreement.

     

    “Management Agreement” means
the Management Agreement dated as of December 11, 2007, between, among others,
the Company and certain of its Subsidiaries and Nell Limited, as in effect on
the Original Closing Date.

     

    “Mandatory Cost” means, with
respect to any period, the percentage rate per annum determined in accordance
with Schedule
1.01C.

     

    “Margin Loan” means the loan
originally entered into between, among others, AI Chemical Investments LLC,
Merrill Lynch International and Merrill Lynch, Pierce, Fenner & Smith
Incorporated on or about August 20, 2007 in order to finance the
acquisition of certain shares in the capital of Lyondell (as amended,
transferred or novated from time to time (including to certain Subsidiaries of
the Company)).

     

    “Master Agreement” has the
meaning set forth in the definition of “Swap Contract.”

     

    “Material Adverse Change” means
any occurrence, condition, change, event or development, or series of any of the
foregoing, that, individually or in the aggregate, (i) is or is likely to be
materially adverse to the properties, facilities, assets, liabilities, financial
condition, business or results of operations of Lyondell and its Subsidiaries,
taken as a whole (taking into account the effects of any material disruption of
production at a significant facility of Lyondell for an extended period of
time), or (ii) materially impairs, prevents or delays the ability of Lyondell to
consummate the transactions contemplated by the Acquisition Agreement or to
perform its obligations thereunder; provided, however, that in no event
shall any of the following constitute a Material Adverse Change:  (A)
any occurrence, condition, change, event or effect resulting from or relating to
changes in general economic or financial market conditions, including
fluctuations in currency exchange rates, (B) any occurrence, condition, change,
event or effect that affects the chemical industry or refining industry
generally (including changes in commodity prices, general market prices and
regulatory changes affecting the chemical industry or refining industry
generally), (C) the outbreak or escalation of hostilities involving the United
States, the declaration by the United States of a national emergency or war or
the occurrence of any natural disasters and acts of terrorism (but not any such
event resulting in any damage or destruction to or loss of Lyondell’s or its
Subsidiaries’ physical properties to the extent such change or effect would
otherwise constitute a Material Adverse Change), (D) any changes resulting from
the consummation of the Acquisition contemplated by, or the announcement of the
execution of the Acquisition Agreement, (E) change in GAAP, or in the
interpretation thereof, as imposed upon Lyondell, its Subsidiaries or their
respective businesses, (F) any change in law or regulation, or in the
interpretation thereof, (G) the downgrade in rating of any debt securities of
Lyondell or any of its Subsidiaries by S&P, Moody’s or Fitch Ratings, (H)
changes in the price or trading volume of Lyondell’s stock, (I) any legal
proceedings made or brought by any of the current or former stockholders of
Lyondell (on their own behalf or on behalf of Lyondell) arising out of or
related to the Acquisition Agreement or the Acquisition, (J) any failure by
Lyondell to meet projections of revenues or earnings for a period ending after
the date of the Acquisition Agreement or (K) any occurrence, condition, change,
event or effect resulting from compliance by Lyondell and its Subsidiaries with
the terms of the Acquisition Agreement and each other agreement to be executed
and delivered in connection herewith and therewith; except with respect to
(A)–(C) and (F), in the event, and only to the extent, that such occurrence,
condition, change, event or effect has had a disproportionate effect on Lyondell
and its Subsidiaries, taken as a whole, as compared to other Persons engaged in
the chemical industry or refining industry in the same geographic regions and
segments as Lyondell and its Subsidiaries and except with respect to (G), (H)
and (J), provided that
nothing in any such clauses shall prevent a determination that any underlying
causes of such changes resulted in a Material Adverse Change.

     

    
      
        
           

        

        
          -41-

          
            

          

        

        
           

        

      

    

     

    “Material Adverse Effect” means
(a) a material adverse effect on the business, operations, assets, liabilities
(actual or contingent) or financial condition of the Company and its Restricted
Subsidiaries (taken as a whole), (b) a material adverse effect on the ability of
the Borrowers or the Loan Parties (taken as a whole) to perform their respective
payment obligations under any Loan Document to which any Borrower or any of the
Loan Parties is a party or (c) a deficiency in the rights and remedies of the
Lenders under the Loan Documents (taken as a whole) which is materially adverse
to the Lenders.

     

    “Material Subsidiary” means, at
any date of determination, each of the Company’s Subsidiaries (a) whose total
assets at the last day of the relevant Fiscal Year were equal to or greater than
2.5% of the Total Assets of the Company and the Restricted Subsidiaries at such
date or (b) whose EBITDA for the most recently ended Fiscal Year for which
financial statements have been delivered pursuant to Section 6.01(a) is equal to
or greater than 2.5% of the Consolidated EBITDA for such fiscal
year.

     

    “Maturity Date” means (i) with
respect to the Tranche A Term Loans, the sixth anniversary of the Original
Closing Date, (ii) with respect to the Tranche B Term Loans, the seventh
anniversary of the Original Closing Date and (iii) with respect to the Revolving
Credit Facility, the sixth anniversary of the Original Closing
Date.

     

    “Maximum Rate” has the meaning
set forth in Section 10.10.

     

    “Millennium Holdings Group” has
the meaning set forth in Section 8.01.

     

    “Millennium Indenture” means
the indenture dated November 27, 1996 in respect of the Millennium Notes as
supplemented by a Supplemental Indenture dated November 21, 1997, as in effect
on the Original Closing Date.

     

    “Millennium Notes” means the
Millennium America Inc. 75⁄8 Senior Notes due 2026.

     

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

     

    “Mortgage Amendment” has the
meaning set forth in Section 6.14(d)(i).

     

    “Mortgaged Properties” has the
meaning set forth in paragraph (f) of the definition of “Collateral and
Guarantee Requirement.”

     

    “Mortgages” means,
collectively, the deeds of trust, trust deeds, hypothecs and mortgages creating
and evidencing a Lien on a Mortgaged Property made by the Loan Parties in favor
of or for the benefit of the Collateral Agent on behalf of the Secured Parties
(i) with respect to Mortgages on Mortgaged Properties located in the United
States, substantially in the form of Exhibit I and (ii)
with respect to Mortgages on Mortgaged Properties outside of the United States,
having customary terms and otherwise in form and substance reasonably
satisfactory to the Collateral Agent, and any other mortgages executed and
delivered pursuant to Sections 4.01, 6.12 and 6.14.

     

    “Multiemployer Plan” means any
employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to
which any Loan Party, any Subsidiary or any ERISA Affiliate makes or is
obligated to make contributions, during the preceding five plan years, has made
or been obligated to make contributions or otherwise could reasonably be
expected to incur liability.

     

    
      
        
           

        

        
          -42-

          
            

          

        

        
           

        

      

    

     

    “Net Proceeds”
means

     

    (a)           with
respect to any Disposition or Casualty Event 100% of the cash proceeds actually
received by the Company or any Restricted Subsidiary from such Disposition or
Casualty Event other than in respect of property constituting “Collateral” under
the ABF Inventory Facility (including any cash payments received by way of
deferred payment of principal pursuant to a note or installment receivable or
purchase price adjustment receivable or otherwise and including casualty
insurance settlements and condemnation awards in respect of any equipment, fixed
assets or Real Property (including any improvements thereof)) to replace or
repair such equipment, fixed assets or Real Property, but only as and when
received, and excluding any liabilities assumed by the transferee and deemed to
be cash for purposes of Section 7.05(j)(ii), in each case net
of

     

    (i)          
attorneys’ fees, accountants’ fees, investment banking fees, purchaser due
diligence costs (to the extent borne by the Company or any Restricted
Subsidiary), survey costs, title insurance premiums, and related search and
recording charges, transfer taxes, deed or mortgage recording taxes, required
debt payments and required payments of other obligations relating to the
applicable asset to the extent such debt or obligations are  secured
by a Lien permitted hereunder (other than pursuant to the Loan Documents) on
such asset, other customary expenses and brokerage, consultant and other
customary fees actually incurred in connection therewith,

     

    (ii)          Taxes
paid or payable as a result thereof,

     

    (iii)          the
amount of any reserve certified by the Company Financial Officer as reasonable
and established in accordance with GAAP against any adjustment to the sale price
or to fund any liabilities (other than any taxes deducted pursuant to clause
(ii) above) (x) related to any of the applicable assets and (y) retained by the
Company or any of the  Restricted Subsidiaries, including pension and
other post-employment benefit liabilities and liabilities related to
environmental matters or against any indemnification obligations (provided, however, that the amount of
any subsequent reduction of such reserve (other than in connection with a
payment in respect of any such liability) shall be deemed to be Net Proceeds of
such Disposition or Casualty Event received on the date of such
reduction),

     

    (iv)          repayment
of Existing Indebtedness required to be paid in connection with such Disposition
or Casualty Event,

     

    (v)          all
distributions and other payments required to be made to other shareholders in
subsidiaries or joint ventures as a result of such Disposition or Casualty Event
or to any other person (other than the Company or a Restricted Subsidiary)
owning a beneficial interest in the assets in such Disposition or Casualty
Event, and

     

    (vi)          the
decrease in proceeds from Securitization Transactions which results from such
Disposition or Casualty Event;

     

    provided that, if no Default
exists and the Company shall deliver a certificate of a Company Financial
Officer to the Administrative Agent promptly following receipt of any such
proceeds setting forth the Company’s intention to use any such proceeds to
acquire, maintain, develop, construct, improve, upgrade or repair assets useful
in the business of the Company and the Restricted Subsidiaries or to make
Permitted Acquisitions or any acquisition of all or substantially all the assets
of, or all the Equity Interests (other than directors’ qualifying shares) in, a
Person or division or line of business of a Person (or any subsequent investment
made in a Person, division or line of business previously acquired), in each
case within 450 days of such receipt, such portion of such proceeds shall not
constitute Net Proceeds except to the extent not so used or contractually
committed to be so used within 450 days of such receipt (it being understood
that if any portion of such proceeds are not so used but are contractually
committed within such 450-day period to be used, then if such Net Proceeds are
not so used within the later of the last day of such 450-day period and the date
that is 180 days from the entry into such Contractual Obligation, such remaining
portion shall constitute Net Proceeds as of the date of such expiry or
termination); provided
further that (x) no
proceeds realized in a single transaction or series of related transactions
shall constitute Net Proceeds unless such proceeds shall exceed $25,000,000 and
(y) no proceeds shall constitute Net Proceeds in any calendar year until the
aggregate amount of all such unapplied proceeds (excluding proceeds described in
clause (x) above realized in a single transaction or series of related
transactions that are in excess of $100,000,000) in such calendar year shall
exceed $100,000,000; and

     

    
      
        
           

        

        
          -43-

          
            

          

        

        
           

        

      

    

     

    (b)           with
respect to a Recovery Event, 100% of the cash proceeds actually received by the
Company or any Restricted Subsidiary from such Recovery Event, net of related
fees, Taxes and transaction costs properly incurred in achieving any such
recovery.

     

    For
purposes of calculating the amount of Net Proceeds, fees, commissions and other
costs and expenses payable to the Company shall be disregarded.

     

    “Non-Consenting Lender” has the
meaning set forth in Section 3.07(d).

     

    “Non-extension Notice Date” has
the meaning set forth in Section 2.03(b)(iii).

     

    “Non-Responsive Lender” means,
with respect to any amendment, waiver or modification, any Lender who does not
respond affirmatively or negatively within 20 Business Days to a request for
such amendment, waiver or modification.

     

    “Non-U.S. Borrowers” has the
meaning set forth in the introductory paragraph to this Agreement.

     

    “Note” means a U.S. Tranche A
Dollar Term Note, a U.S. Tranche B-1 Dollar Term Note, a U.S. Tranche B-2 Dollar
Term Note, a U.S. Tranche B-3 Dollar Term Note, a Dutch Tranche A Dollar Term
Note, a German Tranche B-1 Euro Term Note, a German Tranche B-2 Euro Term Note,
a German Tranche B-3 Euro Term Note, a Revolving Credit Note or a Swing Line
Note, as the context may require.

     

    “Obligations” means all (x)
advances to, and debts, liabilities, obligations, covenants and duties of, any
Loan Party and its Subsidiaries 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 Subsidiary of
any proceeding under any Debtor Relief Laws naming such Person as the debtor in
such proceeding, regardless of whether such interest and fees are allowed claims
in such proceeding, and (y) obligations of any Loan Party arising under any
Secured Hedge Agreement or any Treasury Services Agreement.  Without
limiting the generality of the foregoing, the Obligations of the Loan Parties
under the Loan Documents (and of their Subsidiaries to the extent they have
obligations under the Loan Documents) include (a) the obligation (including
guarantee obligations) to pay principal, interest, Letter of Credit fees,
reimbursement obligations, charges, expenses, fees, Attorney Costs, indemnities
and other amounts payable by any Loan Party or Subsidiary under any Loan
Document and (b) the obligation of any Loan Party or Subsidiary to reimburse any
amount in respect of any of the foregoing that any Lender, in its sole
discretion, may elect to pay or advance on behalf of such Loan Party or such
Subsidiary to the extent originally payable by that Loan Party or
Subsidiary.

     

    
      
        
           

        

        
          -44-

          
            

          

        

        
           

        

      

    

     

    “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, association 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.

     

    “Original Closing Date” means
December 20, 2007, the date of the initial extension of credit under the
Original Credit Agreement.

     

    “Original Credit Agreement”
shall have the meaning assigned to such term in the preliminary statements
hereto.

     

    “Other Taxes” has the meaning
set forth in Section 3.01(b).

     

    “Outstanding Amount” means (a)
with respect to the Dutch Tranche A Dollar Term Loans, U.S. Tranche A Dollar
Term Loans, U.S. Tranche B-1 Dollar Term Loans, U.S. Tranche B-2 Dollar Term
Loans, U.S. Tranche B-3 Dollar Term Loans, German Tranche B-1 Euro Term Loans,
German Tranche B-2 Euro Term Loans, German Tranche B-3 Euro Term Loans,
Revolving Credit Loans and Swing Line Loans on any date, the Dollar Amount
thereof, after giving effect to any borrowings and prepayments or repayments of
Dutch Tranche A Dollar Term Loans, U.S. Tranche A Dollar Term Loans, U.S.
Tranche B-1 Dollar Term Loans, U.S. Tranche B-2 Dollar Term Loans, U.S. Tranche
B-3 Dollar Term Loans, German Tranche B-1 Euro Term Loans, German Tranche B-2
Euro Term Loans, German Tranche B-3 Euro Term Loans, Revolving Credit Loans
(including any refinancing of outstanding unpaid drawings under Letters of
Credit or L/C Credit Extensions as a Revolving Credit Borrowing and any cash
collateralization or redesignation in the face amount of any Letters of Credit
or Credit Extensions) and Swing Line Loans, as the case may be, occurring on
such date; and (b) with respect to any L/C Obligations on any date, the Dollar
Amount thereof on such date after giving effect to any L/C Credit Extension
occurring on such date and any other changes thereto as of such date, including
as a result of any reimbursements of outstanding unpaid drawings under any
Letters of Credit (including any refinancing of outstanding unpaid drawings
under Letters of Credit or L/C Credit Extensions as a Revolving Credit Borrowing
collateralization or redesignation in the face amount of any Letters of Credit)
or any reductions in the maximum amount available for drawing under Letters of
Credit taking effect on such date.

     

    “Overnight Rate” means, for any
day, (a) with respect to any amount denominated in Dollars, the Federal Funds
Rate, and (b) with respect to any amount denominated in an Alternative Currency,
the rate of interest per annum at which overnight deposits in the applicable
Alternative Currency, in an amount approximately equal to the amount with
respect to which such rate is being determined, would be offered for such day by
a branch or Affiliate of Citibank, N.A. in the applicable offshore interbank
market for such currency to major banks in such interbank market.

     

    “Parent” means BI S.à r.l., a
société à responsabilité limitée incorporated under the laws of the Grand Duchy
of Luxembourg.

     

    
      
        
           

        

        
          -45-

          
            

          

        

        
           

        

      

    

     

    “Parent Guarantor” has the
meaning set forth in Section 6.01.

     

    “Participant” has the meaning
set forth in Section 10.07(e).

     

    “Participant Register” has the
meaning set forth in Section 10.07(e).

     

    “Participating Member State”
means each state so described in any EMU Legislation.

     

    “Payor” has the meaning set
forth in the definition of “Consolidated Net Income.”

     

    “PBGC” means the Pension
Benefit Guaranty Corporation.

     

    “PBGC Settlement” means the
settlement agreement between Lyondell and the Pension Benefit Guaranty
Corporation (or any successor entity) as amended, modified, restated or replaced
from time to time.

     

    “Pension Plan” means any
“employee pension benefit plan” (as such term is defined in Section 3(2) of
ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA or
to the minimum funding standards under Section 412 of the Code or Section 302 of
ERISA and is sponsored or maintained by any Loan Party, any Subsidiary or any
ERISA Affiliate or to which any Loan Party, any Subsidiary or any ERISA
Affiliate contributes or has an obligation to contribute, or in the case of a
multiple employer or other plan described in Section 4064(a) of ERISA, has made
contributions at any time during the immediately preceding five (5) plan years
or with respect to which a Loan Party, Subsidiary or ERISA Affiliate could
reasonably be expected to incur liability (including under Section 4063 or 4069
of ERISA).

     

    “Perfection Certificate” means
a certificate in the form of Exhibit G-1, as
the same shall be supplemented from time to time by a Perfection Certificate
Supplement or otherwise.

     

    “Perfection Requirements” means
the making or the procuring of the appropriate registrations, filings,
endorsements, notarizations, stamping and/or notifications of the Collateral
Documents and/or the Lien created hereunder, to the extent to be made other than
by the Company or its Subsidiaries.

     

    “Permanent Financing” means the
incurrence of Indebtedness refinancing the Senior Second Lien Interim Loans (i)
which matures not less than 180 days after the final maturity of the Tranche B
Term Loans and has no scheduled principal payments prior to maturity, (ii) (x)
which has terms in respect of priority of liens and collateral on terms at least
as favorable to the Lenders as those contained in the Senior Second Lien Debt
Documentation, (y) the terms and conditions (but excluding as to interest rate
and redemption premium) of which, taken as a whole, are not materially less
favorable to the Loan Parties or the Lenders than the terms and conditions of
the Tranche B Term Loans; provided, however, that no
Permanent Financings shall have financial maintenance covenants and (z) the
obligor with respect to which is the Person who is the obligor (or any direct or
indirect parent of the obligor) of the Senior Second Lien Interim Loans and
(iii) would satisfy clause (a) of the definition of “Permitted Refinancing” with
respect to the Senior Second Lien Interim Loans.

     

    “Permitted Acquisition” has the
meaning set forth in Section 7.02(g).

     

    “Permitted Business” means any
business which is the same, similar, related or complementary to the businesses
in which the Company and its Restricted Subsidiaries or any Specified Joint
Venture were engaged on the Original Closing Date (including, for the avoidance
of doubt, following consummation of the Acquisition), except to the extent that
after engaging in any new business, the Company and its Restricted Subsidiaries,
taken as a whole, remain substantially engaged in similar or related lines of
business as were conducted by them on the Original Closing Date.

     

    
      
        
           

        

        
          -46-

          
            

          

        

        
           

        

      

    

     

    “Permitted Joint Venture” means
(1) any person that is not a Subsidiary of the Company or any of its
Restricted Subsidiaries that the Company or any of its Restricted Subsidiaries
has a direct or indirect ownership interest in that is engaged in a Permitted
Business or (2) any entity through which the Company has an ownership
interest as described in clause (1), in the case of (1) and (2), for which the
Sponsor does not hold an ownership interest (other than through its ownership
interest in the Company).

     

    “Permitted Refinancing” means,
with respect to any Person, any modification, refinancing, defeasance,
replacement, refunding, renewal or extension of any Indebtedness of such Person;
provided that (a) the
principal amount (or accreted value, if applicable) thereof does not exceed the
principal amount (or accreted value, if applicable) of the Indebtedness so
modified, refinanced, defeased, replaced, refunded, renewed or extended except
by an amount equal to unpaid accrued (including, for the purposes of defeasance,
future accrued) interest and premium thereon plus fees (including prepayment
premium, associated hedging break costs and premium for replacement hedging) and
expenses reasonably incurred in connection with such modification, refinancing,
refunding, renewal or extension and by an amount equal to any existing
commitments and incremental facilities unutilized thereunder to the extent
incurrence of indebtedness under such unutilized commitment and incremental
facilities would then have been permitted, (b) such modification, refinancing,
defeasance, replacement, refunding, renewal, or extension has a final maturity
date equal to 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 modified, refinanced, defeased, replaced,
refunded, renewed or extended, (c) other than with respect to a Permitted
Refinancing in respect of Indebtedness permitted pursuant to Section 7.03(e) or
(g), at the time thereof, no Event of Default shall have occurred and be
continuing and (d) if such Indebtedness being modified, refinanced, defeased,
replaced, refunded, renewed or extended is Indebtedness permitted pursuant to
Section 7.03(b), 7.03(g) or 7.13(a) or is otherwise a Junior Financing, (i) to
the extent such Indebtedness being modified, refinanced, defeased, replaced,
refunded, renewed or extended is subordinated in right of payment to the
Obligations or subordinated in respect of Liens, such modification, refinancing,
defeasance, replacement, refunding, renewal or extension is subordinated in
right of payment to the Obligations or subordinated in respect of Collateral on
terms at least as favorable to the Lenders as those contained in the
documentation governing the Indebtedness being modified, refinanced, defeased,
replaced, refunded, renewed or extended, (ii) the terms and conditions
(including, if applicable, as to collateral but excluding as to subordination,
interest rate and redemption premium) of any such modified, refinanced,
defeased, replaced, refunded, renewed or extended Indebtedness, taken as a
whole, are not materially less favorable to the Loan Parties or the Lenders than
the terms and conditions of the Indebtedness being modified, refinanced,
defeased, replaced, refunded, renewed or extended; and (iii) such modification,
refinancing, defeasance, replacement, refunding, renewal or extension is
incurred by the Person who is the obligor of the Indebtedness being modified,
refinanced, refunded, renewed or extended.

     

    “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” (as such term is defined in Section 3(3) of ERISA) established by
any Loan Party or Subsidiary or, with respect to any such plan that is subject
to Section 412 of the Code or Title IV of ERISA, any ERISA
Affiliate.

     

    “Platform” has the meaning set
forth in Section 6.01.

     

    “Pledged Debt” has the meaning
set forth in the U.S. Security Agreement.

     

    
      
        
           

        

        
          -47-

          
            

          

        

        
           

        

      

    

     

    “Pledged Equity” has the
meaning set forth in the U.S. Security Agreement.

     

    “Primary Administrative Agent”
has the meaning set forth in the definition of Administrative
Agent.

     

    “Primary Letter of Credit”
means a Letter of Credit issued under the Primary Revolving Credit
Facility.

     

    “Primary L/C Advance” means, with
respect to each Primary Revolving Credit Lender, such Lender’s funding of its
participation in any Primary L/C Borrowing in accordance with its Pro Rata
Share.

     

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

     

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

     

    “Primary L/C Obligations”
means, as at any date of determination, the aggregate undrawn amount of all
outstanding Primary Letters of Credit plus the aggregate of all Unreimbursed
Amounts, including all Primary L/C Borrowings.

     

    “Primary Letter of Credit
Sublimit” means an amount equal to the lesser of (a) $450,000,000
and (b) the aggregate Dollar Amount of the Primary Revolving Credit
Commitments.  The Primary Letter of Credit Sublimit is part of, and
not in addition to, the Primary Revolving Credit Facility.

     

    “Primary Revolving Credit
Commitment” means, as to each Primary Revolving Credit Lender, its
obligation to (a) make Primary Revolving Credit Loans to the Borrowers pursuant
to Section 2.01(e), (b) purchase participations in Primary L/C Obligations in
respect of Primary Letters of Credit 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 1.01A under
the caption “Primary Revolving Credit Commitment” or in the Assignment and
Assumption pursuant to which such Lender becomes a party hereto, as applicable,
as such amount may be adjusted from time to time in accordance with this
Agreement (including Section 2.14).  The aggregate Primary Revolving
Credit Commitments of all Primary Revolving Credit Lenders was $800,000,000 on
the Original Closing Date.

     

    “Primary Revolving Credit
Exposure” means, as to each Primary Revolving Credit Lender, the sum of
the Dollar Amount of the outstanding principal amount of such Primary Revolving
Credit Lender’s Primary Revolving Credit Loans and its Pro Rata Share of the
Dollar Amount of the Primary L/C Obligations and the Swing Line Obligations at
such time.

     

    “Primary Revolving Credit Facility”
means, at any time, the aggregate amount of the Revolving Credit Lenders’
Primary Revolving Credit Commitments at such time.

     

    “Primary Revolving Credit Lender”
means, at any time, any Lender that has a Primary Revolving Credit Commitment at
such time.

     

    “Primary Revolving Credit Loan”
has the meaning specified in Section 2.01(e).

     

    
      
        
           

        

        
          -48-

          
            

          

        

        
           

        

      

    

    

    

     

    “Primary Revolving Credit Note” means a
promissory note of the Borrowers payable to any Primary Revolving Credit Lender
or its registered assigns, in substantially the form of Exhibit C-5,
evidencing the aggregate Indebtedness of the Borrowers to such Primary Revolving
Credit Lender resulting from the Primary Revolving Credit Loans made by such
Primary Revolving Credit Lender to the Borrowers.

     

    “Principal L/C Issuer” means
any L/C Issuer that has issued Letters of Credit having an aggregate Outstanding
Amount in excess of $10,000,000.

     

    “Pro Forma Balance Sheet” has
the meaning set forth in Section 5.05(a)(i).

     

    “Pro Forma Basis” and “Pro Forma Compliance” mean,
with respect to compliance with any test or covenant hereunder, that (A) if
no Test Period cited in Section 7.11 has passed, the covenants in Section 7.11
for the first Test Period cited in such Section shall be satisfied as of the
last four quarters then ended and (B) all Specified Transactions and the
following transactions in connection therewith shall be deemed to have occurred
as of the first day of the applicable period of measurement in such test or
covenant:  (a) the benefit of any anticipated expense reductions
and similar synergies as such reductions and synergies could be properly
reflected in pro forma financial statements included in a registration statement
filed under the Securities Act, (b) income statement items (whether positive or
negative) attributable to the property or Person subject to such Specified
Transaction, (i) in the case of a Disposition of all or substantially all Equity
Interests in any Subsidiary of the Company or any division, product line, or
facility used for operations of the Company or any of its Subsidiaries, shall be
excluded, and (ii) in the case of a Permitted Acquisition or Investment
described in the definition of  “Specified Transaction,” shall be
included, (c) any retirement of Indebtedness, and (d) any Indebtedness incurred
or assumed by the Company or any of the Restricted Subsidiaries in connection
therewith and 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 Financial
Statements” has the meaning set forth in Section 5.05(a)(i).

     

    “Prohibition” has the meaning
set forth in Section 11.11.

     

    “Projections” has the meaning
set forth in Section 6.01(c).

     

    “Pro Rata Share” means, with
respect to each Lender at any time a fraction (expressed as a percentage,
carried out to the ninth decimal place), the numerator of which is the amount of
the Commitments of such Lender under the applicable Facility or Facilities at
such time and the denominator of which is the amount of the Aggregate
Commitments under the applicable Facility or Facilities at such time; provided that if such
Commitments have been terminated, then the Pro Rata Share of each Lender shall
be determined based on the Pro Rata Share of such Lender immediately prior to
such termination and after giving effect to any subsequent assignments made
pursuant to the terms hereof.

     

    “Public Lender” has the meaning
set forth in Section 6.01.

     

    “Qualified Equity Interest”
means any Equity Interest that is not a Disqualified Equity
Interest.

     

    “Real Property” means,
collectively, all right, title and interest (including any leasehold, easement,
mineral or other estate) in and to any and all parcels of or interests in real
property owned, leased or operated by any Person, whether by lease, license or
other means, together with, in each case, all easements, hereditaments and
appurtenances relating thereto, all improvements and appurtenant fixtures and
equipment, all general intangibles and contract rights and other property and
rights incidental to the ownership, lease or operation thereof.

     

    
      
        
           

        

        
          -49-

          
            

          

        

        
           

        

      

    

     

    “Receivables Financings” means
factoring, securitizations of receivables or any other receivables financing
(including through the sale of receivables in a factoring arrangement or through
the sale of receivables to lenders or to special purpose entities formed to
borrow from such lenders against such receivables), whether or not recourse to
the Company or any of its Restricted Subsidiaries, including the ABF Receivables
Facility and any other Securitization Transaction.

     

    “Recovery Event” means any
event that gives rise to the receipt by the Company or any Restricted Subsidiary
of proceeds pursuant to or in respect of the Acquisition Agreement or any due
diligence report delivered to the Arrangers in connection with the Transaction
or any related breach of contract, warranty claim, reliance letter or legal
action or proceedings (whether by way of judgment on or settlement of any such
claim).

     

    “Reference Time” has the
meaning set forth in the definition of “Applicable Amount.”

     

    “Refinanced Loans” has the
meaning set forth in Section 10.01.

     

    “Register” has the meaning set
forth in Section 10.07(d).

     

    “Rejection Notice” has the
meaning set forth in Section 2.05(b)(vii).

     

    “Release” means any spilling,
leaking, seepage, pumping, pouring, emitting, emptying, discharging, injecting,
escaping, leaching, dumping, disposing, depositing, dispersing or migrating in,
into, onto or through the Environment.

     

    “Repaid Tranche B-3 Loans”
shall have the meaning provided in Section 2.05(a)(iii).

     

    “Repayment Amount” means the
Dutch Tranche A Dollar Term Loan Repayment Amount, the U.S. Tranche A Dollar
Term Loan Repayment Amount, the U.S. Tranche B Dollar Term Loan Repayment Amount
or the German Tranche B Euro Term Loan Repayment Amount, as
applicable.

     

    “Replacement Loans” has the
meaning set forth in Section 10.01.

     

    “Reportable Event” means any of
the events set forth in Section 4043(c) of ERISA or the regulations issued
thereunder, other than events for which the thirty (30) day notice period has
been waived.

     

    “Request for Credit Extension”
means (a), with respect to a Borrowing, continuation or conversion of Term Loans
or Revolving Credit Loans, a Committed 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 Class Lenders” means,
as of any date of determination, Lenders of a Class having more than 50% of the
sum of the (a) Total Outstandings in respect of that Class (with the aggregate
Dollar Amount of each Lender’s risk participation and funded participation in
L/C Obligations and Swing Line Loans being deemed “held” by such Lender for
purposes of this definition) for all Lenders of such Class and (b) aggregate
unused Commitments in respect of that Class of all Lenders of such Class; provided that the unused
Commitment in respect of that Class and the portion of the Total Outstandings in
respect of that Class held or deemed held by, any Defaulting Lender or
Non-Responsive Lender of such Class shall be excluded for purposes of making a
determination of Required Class Lenders.

     

    
      
        
           

        

        
          -50-

          
            

          

        

        
           

        

      

    

     

    “Required Lenders” means, as of
any date of determination, Lenders having more than 50% of the sum of the (a)
Total Outstandings (with, in the case of the Primary Revolving Credit Facility,
the aggregate Dollar Amount of each Lender’s risk participation and funded
participation in L/C Obligations and Swing Line Loans being deemed “held” by
such Lender for purposes of this definition), (b) aggregate unused U.S. Tranche
A Dollar Term Commitments, (c) aggregate unused Dutch Tranche A Dollar Term
Commitments, (d) aggregate unused U.S. Tranche B Dollar Term Commitments, (e)
aggregate unused German Tranche B Euro Term Commitments, (f) aggregate unused
Primary Revolving Credit Commitments and (g) aggregate unused Dutch Revolving
Credit Commitments; provided that the unused U.S.
Tranche A Dollar Term Commitment, unused U.S. Tranche B Dollar Term Commitment,
unused Dutch Tranche A Dollar Term Commitment, unused German Tranche B Euro Term
Commitment, unused Primary Revolving Credit Commitment and unused Dutch
Revolving Credit Commitments of, and the portion of the Total Outstandings held
or deemed held by, any Defaulting Lender or Non-Responsive Lender shall be
excluded for purposes of making a determination of Required
Lenders.

     

    “Responsible Officer” means the
chief executive officer, president, vice president, chief financial officer,
treasurer or assistant treasurer or other similar officer of a Loan Party
(including, in the case of each Loan Party, the authorized number of managing
directors or a general attorney or an attorney under a power of attorney of such
Loan Party) and, as to any document delivered on the Original Closing Date, any
secretary of such Loan Party.  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 Party” means any
person listed:

     

    (a)           in
the Annex to the Executive Order;

     

    (b)           on
the “Specially Designated Nationals and Blocked Persons” list maintained by the
OFAC;

     

    (c)           in
any successor list to either of the foregoing; or

     

    (d)           any
person or entity that commits, threatens or conspires to commit or supports
“terrorism” as defined in the Executive Order.

     

    “Restricted Payment”
means

     

    (1)           a
declaration or payment of any dividend or the making of any distribution, other
than dividends or distributions payable in Qualified Equity Interests of the
Company and dividends or distributions payable solely to the Company or a
Restricted Subsidiary of the Company, and other than pro rata dividends or other
distributions made by a Subsidiary that is not a wholly-owned Subsidiary to
minority shareholders (or owners of an equivalent interest in the case of a
Subsidiary that is an entity other than a corporation), on or in respect of
shares of the Company’s Equity Interests to holders of such Equity
Interests,

     

    (2)           the
purchase, redemption or other acquisition or retirement for value of any Equity
Interests of the Company or any warrants, rights or options to purchase or
acquire shares of any class of such Equity Interests, or

     

    (3)           any
Investment other than an Investment permitted by Section 7.02.

     

    
      
        
           

        

        
          -51-

          
            

          

        

        
           

        

      

    

     

    “Restricted Subsidiary” means
any Subsidiary of the Company other than an Unrestricted
Subsidiary.  For the avoidance of doubt, each Borrower shall at all
times constitute a Restricted Subsidiary.

     

    “Revolving Commitment Increase”
has the meaning set forth in Section 2.14(a).

     

    “Revolving Commitment Increase
Lender” has the meaning set forth in Section 2.14(e).

     

    “Revolving Credit Borrowing”
means a borrowing consisting of simultaneous Revolving Credit Loans of the same
Type and, in the case of Eurocurrency Rate Loans, having the same Interest
Period and currency.

     

    “Revolving Credit Commitments”
means the collective reference to the Primary Revolving Credit Commitment and
Dutch Revolving Credit Commitment.

     

    “Revolving Credit Exposure”
means the collective reference to the Primary Revolving Credit Exposure and the
Dutch Revolving Credit Exposure.

     

    “Revolving Credit Facilities”
means the collective reference to the Primary Revolving Credit Facility and
Dutch Revolving Credit Facility.

     

    “Revolving Credit Lender” means
the collective reference to the Primary Revolving Credit Lenders and the Dutch
Revolving Credit Lenders.

     

    “Revolving Credit Loan” has the
meaning set forth in Section 2.01(e).

     

    “Revolving Credit Note” means a
Primary Revolving Credit Note or a Dutch Revolving Credit Note.

     

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

     

    “Same Day Funds” means (a) with
respect to disbursements and payments in Dollars, immediately available funds,
and (b) with respect to disbursements and payments in an Alternative Currency,
same day or other funds as may be determined by the Administrative Agent to be
customary in the place of disbursement or payment for the settlement of
international banking transactions in the relevant Alternative
Currency.

     

    “Scheduled Capital Expenditure
Amount” has the meaning set forth in Section 7.11(c).

     

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

     

    “Secured Hedge Agreement” means
any Swap Contract permitted under Article VII entered into by and between any
Borrower or any Loan Party and any Hedge Bank, and all Swap Contracts set forth
on Schedule
1.01L.

     

    “Secured Parties” means,
collectively, the Administrative Agent, the Collateral Agent, the Lenders, the
Hedge Banks, with respect to Existing Letters of Credit only, the issuers
thereof, with respect to Secured Hedge Agreements set forth on Schedule 1.01L only,
the counterparties thereto, the Supplemental Agents and each co-agent or
sub-agent appointed by the Administrative Agent or Collateral Agent from time to
time pursuant to Section 9.02.

     

    
      
        
           

        

        
          -52-

          
            

          

        

        
           

        

      

    

     

    “Securities Act” means the
Securities Act of 1933, as amended.

     

    “Securitization Entity” means
Basell Capital Corporation, Basell Polyolefins Company BVBA, LyondellBasell
Receivables I, LLC and each other entity to which the Company or any Subsidiary
of the Company transfers, directly or indirectly, accounts receivable or
equipment and related assets which engages in no activities other than in
connection with the financing of accounts receivable or equipment and which is
designated by the Board of Directors of the Company (as provided below) as a
Securitization Entity; provided that:

     

    (1)           no
portion of the Indebtedness or any other obligations (contingent or otherwise)
of which

     

    (a)           is
guaranteed by the Company or any Subsidiary of the Company (other than the
Securitization Entity), excluding guarantees of obligations (other than the
principal of, and interest on, Indebtedness) pursuant to Standard Securitization
Undertakings,

     

    (b)           is
recourse to or obligates the Company or any Subsidiary of the Company (other
than the Securitization Entity) in any way other than pursuant to Standard
Securitization Undertakings, or

     

    (c)           subjects
any property or asset of the Company or any Subsidiary of the Company (other
than the Securitization Entity), directly or indirectly, contingently or
otherwise, to the satisfaction thereof, other than pursuant to Standard
Securitization Undertakings and other than any interest in the accounts
receivable or equipment and related assets being financed (whether in the form
of an equity interest in such assets or subordinated indebtedness payable
primarily from such financed assets) retained or acquired by the Company or any
Subsidiary of the Company,

     

    (2)           neither
the Company nor any Subsidiary of the Company has any material contract,
agreement, arrangement or understanding with the Securitization Entity other
than on terms no less favorable to the Company or such Subsidiary than those
that might be obtained at the time from Persons that are not Affiliates of the
Company, other than fees payable in the ordinary course of business in
connection with servicing receivables of such entity (other than Standard
Securitization Undertakings), and

     

    (3)           neither
the Company nor any Subsidiary of the Company has any obligation to maintain or
preserve such entity’s financial condition or cause such entity to achieve
certain levels of operating results (other than Standard Securitization
Undertakings).

     

    Any such
designation by the Board of Directors of the Company shall be evidenced to the
Administrative Agent by filing with the Administrative Agent a certified copy of
the resolution of the Board of Directors of the Company giving effect to such
designation and an officers’ certificate certifying that such designation
complied with the foregoing conditions.  Following an initial public
offering of common stock by a direct or indirect parent of the Company,
references in the foregoing definition to “the Company” shall be deemed also to
refer to such direct or indirect parent.

     

    “Securitization Transaction”
means any transaction or series of transactions that may be entered into by the
Company or any of its Subsidiaries pursuant to which the Company or any of its
Subsidiaries may sell, convey or otherwise transfer pursuant to customary terms
to:

     

    
      
        
           

        

        
          -53-

          
            

          

        

        
           

        

      

    

     

    (1)           a
Securitization Entity or to the Company which subsequently transfers to a
Securitization Entity (in the case of a transfer by the Company or any of its
Subsidiaries) and

     

    (2)           any
other Person (in the case of transfer by a Securitization Entity), or may grant
a security interest in any accounts receivable (whether now existing or arising
or acquired in the future) of the Company or any of its Subsidiaries, and any
assets related thereto, including all collateral securing such accounts
receivable, all contracts and contract rights and all guarantees or other
obligations in respect of such accounts receivable, proceeds of such accounts
receivable and other assets (including contract rights) which are customarily
transferred or in respect of which security interests are customarily granted in
connection with asset securitization transactions involving accounts
receivable.

     

    Following
an initial public offering of common stock by a direct or indirect parent of the
Company, references in the foregoing definition to “the Company” shall be deemed
also to refer to such direct or indirect parent.

     

    “Security Agreements” means the
Security Agreements listed on Schedule 1.01J, or
any other similar agreements that create a Lien or purport to create a Lien in
favor of the Collateral Agent for the benefit of the Secured
Parties.

     

    “Senior Second Lien Debt” means
the Senior Second Lien Interim Loans, the Senior Second Lien Exchange Notes and
the Senior Second Lien Extended Loans.

     

    “Senior Second Lien Exchange
Notes” means the “Exchange Notes,” as set forth in the Senior Second Lien
Interim Loan Agreement.

     

    “Senior Second Lien Extended
Loans” means the “Extended Loans,” as set forth in the Senior Second Lien
Interim Loan Agreement.

     

    “Senior Second Lien Interim Loan
Agreement” means the Bridge Loan Agreement dated as of the Original
Closing Date and amended and restated on April 29, 2008, between LyondellBasell
Finance Company, among others, the Company, the subsidiary guarantors party
thereto, the lenders party thereto and the joint lead arrangers and bookrunners
party thereto (including Exhibits thereto), as in effect on the Amendment
Effective Date.

     

    “Senior Second Lien Interim
Loans” means $8,000,000,000 of senior second lien loans made to
LyondellBasell Finance Company pursuant to the Senior Second Lien Interim Loan
Agreement.

     

    “Solvent” and “Solvency” mean, with respect
to any Person on any date of determination, that on such date (a) the fair value
of the property of such Person is greater than the total amount of liabilities,
including contingent liabilities, of such Person, (b) 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, (c) 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 and (d) such Person is not engaged
in business or a transaction, and is not about to engage in business or a
transaction, for which such Person’s property would constitute an unreasonably
small capital.  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.

     

    “SPC” has the meaning set forth
in Section 10.07(g).

     

    
      
        
           

        

        
          -54-

          
            

          

        

        
           

        

      

    

     

    “Specified Foreign
Currency” has the meaning set
forth in Section 2.01(e).

     

    “Specified Foreign Currency Funding
Capacity” means, at any date of
determination, for any Lender, the ability of such Lender to fund Revolving
Credit Loans denomi­nated in a Specified Foreign Currency, as set forth in
the records of the Administrative Agent as notified in writing by such Lender to
the Administrative Agent within three (3) Business Days of such Lender becoming
a Lender hereunder.

     

    “Specified Foreign Currency
Loan” has
the meaning set forth in Section 12.01(a).

     

    “Specified Foreign Currency
Participation” has the meaning set
forth in Section 12.01(a).

     

    “Specified Foreign Currency
Participation Fee” has the meaning set
forth in Section 12.06.

     

    “Specified Foreign Currency
Participation Settlement” has the meaning set
forth in Section 12.02(i).

     

    “Specified Foreign Currency
Participation Settlement Amount” has the meaning set
forth in Section 12.02(ii).

     

    “Specified Foreign Currency
Participation Settlement Date” has the meaning set
forth in Section 12.02(i).

     

    “Specified Foreign Currency
Participation Settlement Period” has the meaning set
forth in Section 12.02(i).

     

    “Specified Joint Venture” means
Al-Waha Petrochemical Company and Saudi Ethylene and Polyethylene
Company.

     

    “Specified Transaction” means
any Investment, Disposition, incurrence or repayment of Financial Indebtedness,
Restricted Payment, Restricted Subsidiary designation, Incremental Term Loan or
Revolving Commitment Increase that by the terms of this Agreement requires “Pro
Forma Compliance” with a test or covenant hereunder or requires such test or
covenant to be calculated on a “pro forma basis.”

     

    “Sponsor” means,

     

    (a)           the
Blavatnik Group; and/or

     

    (b)           other
funds, limited partnerships or companies managed or controlled by Mr. Leonard
Blavatnik, including Parent, for so long as so managed or
controlled.

     

    “Standard Securitization
Undertakings” means representations, warranties, undertakings, covenants
and indemnities entered into by the Company or any Subsidiary of the Company
which are reasonably customary in an accounts receivable securitization
transaction.  Following an initial public offering of common stock by
a direct or indirect parent of the Company, references in the foregoing
definition to “the Company” shall be deemed also to refer to such direct or
indirect parent.

     

    “Stated Maturity” means, with
respect to any Indebtedness, the date specified in such security as the fixed
date on which the final payment of principal of such security is due and
payable, including pursuant to any mandatory redemption provision (but excluding
any provision providing for the repurchase of such security at the option of the
holder thereof upon the happening of any contingency beyond the relevant
obligor’s control unless such contingency has occurred).

     

    
      
        
           

        

        
          -55-

          
            

          

        

        
           

        

      

    

     

    “Sterling” and “£” mean the lawful currency of
the United Kingdom.

     

    “Sterling Loan” means a Loan
that is a Eurocurrency Rate Loan and that is made in Sterling pursuant to the
applicable Committed Loan Notice.

     

    “Structured Financing
Transactions” means the structured financing transaction, as in effect on
the Original Closing Date, entered into in July 2007 by the Company and certain
of its Restricted Subsidiaries and a European bank pursuant to which Basell
Funding issued Dutch “certification van aandelen” (“Certificates”) to a special
purpose vehicle (“BAFB”)
with respect to 50 fixed-return preferred shares issued by Basell Holdings to
Basell Funding for a consideration of €1,000,000,000; the Certificates give BAFB
the right to receive from the Company dividends and other distributions that
Basell Funding receives from Basell Holdings in relation to the preferred
shares; together with a put and call option agreement entered into between the
Company and the European bank with respect to the shares of BAFB and pursuant to
which, at any time at their respective sole discretion either the Company can
call or the European bank can put the shares of BAFB for a purchase price of
€1,000,000,000; and the related Swap Contracts in respect of the
aforementioned.

     

    “Subsidiary” means with respect
to any Person, (1) a corporation a majority of the voting Equity Interests
of which are at the time, directly or indirectly, owned by such Person; and
(2) any other Person (other than a corporation), including, a partnership,
limited liability company, business trust or joint venture, in which such
Person, at the time thereof, directly or indirectly, has at least a majority
ownership interest entitled to vote in the election of directors, managers or
trustees thereof (or other Person performing similar functions) or (3) for so
long as the Company or any of its Restricted Subsidiaries has a 50% ownership
interest in Lyondell Bayer Manufacturing Maasvlakle VOF, Lyondell Bayer
Manufacturing Maasvlakle VOF.  For the purposes of this Agreement,
references to Subsidiaries of the Company under this Agreement shall be deemed
to include Lyondell and its Subsidiaries after giving effect to the
Acquisition.

     

    “Subsidiary Guarantors” means,
collectively, the Subsidiaries of the Company that are Guarantors.

     

    “Successor Borrower” has the
meaning set forth in Section 7.04(d).

     

    “Successor Company” has the
meaning set forth in Section 7.04(d).

     

    “Supplemental Agent” has the
meaning set forth in Section 9.13(a).

     

    “Survey” means a survey of any
Real Property subject to a Mortgage (and all improvements thereon) which is (a)
(i) prepared by a surveyor or engineer licensed to perform surveys in the
jurisdiction where such Real Property is located, (ii) dated (or redated) not
earlier than six months prior to the date of delivery thereof unless there shall
have occurred within six months prior to such date of delivery any exterior
construction on the site of such Real Property or any easement, right of way or
other interest in the Real Property has been granted or become effective through
operation of law or otherwise with respect to such Real Property which, in
either case, can be depicted on a survey, in which events, as applicable, such
survey shall be dated (or redated) after the completion of such construction or
if such construction shall not have been completed as of such date of delivery,
not earlier than 30 days prior to such date of delivery, or after the grant or
effectiveness of any such easement, right of way or other interest in the
subject Real Property, (iii) certified by the surveyor (in a manner reasonably
acceptable to the Administrative Agent) to the Administrative Agent, the
Collateral Agent and the Title Company, (iv) complying in all material respects
with the minimum detail requirements of the American Land Title Association as
such requirements are in effect on the date of preparation of such survey and
(v) sufficient for the Title Company to issue a Title Policy or (b) otherwise
acceptable to the Collateral Agent.

     

    
      
        
           

        

        
          -56-

          
            

          

        

        
           

        

      

    

     

    “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, emission rights, 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.

     

    “Swing Line Borrowing” means a
U.S. Swing Line Borrowing and/or a European Swing Line Borrowing, as the context
may require.

     

    “Swing Line Facility” means the
U.S. Swing Line Facility and/or the European Swing Line Facility, as the context
may require.

     

    “Swing Line Lender” means the
U.S. Swing Line Lender and/or the European Swing Line Lender, as the context may
require.

     

    “Swing Line Loan” means a U.S.
Swing Line Loan and/or a European Swing Line Loan, as the context may
require.

     

    “Swing Line Note” means a U.S. Swing Line
Note and/or a European Swing Line Note, as the context may require.

     

    “Swing Line Obligations” means,
as at any date of determination, the aggregate principal amount of all U.S.
Swing Line Loans and/or European Swing Line Loans outstanding.

     

    “Swing Line Sublimit” means
$150,000,000.  The Swing Line Sublimit is part of, and not in addition
to, the Primary Revolving Credit Commitments.

     

    “TARGET Day” means any day on
which the Trans-European Automated Real-time Gross Settlement Express Transfer
(TARGET) payment system (or, if such payment system ceases to be operative, such
other payment system (if any) determined by the Administrative Agent in
consultation with the Company to be a suitable replacement) is open for the
settlement of payments in Euros.

     

    “Tax Sharing Agreement” means
the Tax Sharing Agreement dated on or about December 20, 2007, as in effect on
the Original Closing Date which the Company and its Subsidiaries agree to make
payments (the “Tax
Payments”) to Nell Limited;  providing for (i) payments of up
to 17.5% of the amount of those Dutch or French net operating losses of entities
of the Company and its Restricted Subsidiaries that arose in taxable years
ending prior to 2007 and that are scheduled thereto (the “Qualifying Net Operating Loss
Carryovers”), (ii)  maximum aggregate Tax Payments of not more
than $175,000,000 and (iii) any Tax Payment thereunder is to be accompanied by a
certificate from independent counsel to the Company or its parent company that
(x) such Tax Payment will be used by an indirect U.S.-taxpayer shareholder to
pay taxes associated with taxable income of the Company and/or its Subsidiaries
taxable to such shareholder by reason of such shareholder’s indirect ownership
of the Company and its Subsidiaries and (y) as a result of the utilization of
Qualifying Net Operating Loss Carryovers by the Subsidiaries of the Company, the
U.S.-taxpayer shareholder’s U.S. federal income tax liability for such taxable
year was increased by an amount equal to such Tax Payment.  Payments
under the Tax Sharing Agreement are to be made promptly after the certificate is
provided and in any event within 90 days after the end of the Fiscal Year in
which the Qualifying Net Operating Loss Carryovers are used.

     

    
      
        
           

        

        
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    “Taxes” means all present or
future taxes, duties, levies, imposts, deductions, withholdings, assessments,
fees or other charges imposed by any Governmental Authority, including any
interest, additions to tax or penalties applicable thereto, whether disputed or
not.

     

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

     

    “Term Commitment” means a U.S.
Tranche A Dollar Term Commitment, a U.S. Tranche B Dollar Term Commitment, a
Dutch Tranche A Dollar Term Commitment or a German Tranche B Euro Term
Commitment, as the context may require.

     

    “Term Lender” means, at any
time, a U.S. Tranche A Dollar Term Lender, U.S. Tranche B Dollar Term Lender, a
Dutch Tranche A Dollar Term Lender or a German Tranche B Euro Term Lender, as
the context may require.

     

    “Term Loan” means a U.S.
Tranche A Dollar Term Loan, a U.S. Tranche B Dollar Term Loan, a Dutch Tranche A
Dollar Term Loan or a German Tranche B Euro Term Loan, as the context may
require.

     

    “Test Period” means, for any
date of determination under this Agreement, the four consecutive fiscal quarters
of the Company then last ended.

     

    “Third Amended and Restated Fee
Letter” means the Fee Letter originally dated July 16, 2007 between the
Joint Lead Arrangers and the Company as amended and restated on October 29,
2007, December 20, 2007 and as further amended and restated on the Amendment
Effective Date.

     

    “Threshold Amount” means an
amount equal to the lesser of (i) $100,000,000 or (ii) only for so long as any
of the 2015 Notes are outstanding, €20,000,000 in respect of the Threshold
Amount referred to in Section 8.01(e) and €30,000,000 in respect of the
Threshold Amount referred to in Section 8.01(h).

     

    “Title Company” means a
nationally recognized title insurance company reasonably acceptable to the
Administrative Agent.

     

    “Title Policy” means a fully
paid policy of title insurance (or marked-up title insurance commitment having
the effect of a policy of title insurance) insuring the Lien of a Mortgage as a
valid first mortgage Lien on the mortgaged property and fixtures described
therein in the amount equal to not less than the fair market value of such
mortgaged property and fixtures, issued by the Title Company which shall (a) to
the extent  necessary, include such reinsurance arrangements (with
provisions for direct access, if necessary) as shall be reasonably acceptable to
the Administrative Agent, (b) contain a “tie-in” or “cluster” endorsement, if
available under applicable law (i.e., policies which insure against losses
regardless of location or allocated value of the insured property up to a stated
maximum coverage amount), (c) have been supplemented by such endorsements (or
where such endorsements are not available, opinions of special counsel,
architects or other professionals reasonably acceptable to the Administrative
Agent) as shall be reasonably requested by the Administrative Agent (including
endorsements on matters relating to usury, first loss, last dollar, zoning,
contiguity, revolving credit, doing business, non-imputation, public road
access, survey, variable rate, environmental lien, subdivision, mortgage
recording tax, separate tax lot, revolving credit and so-called comprehensive
coverage over covenants and restrictions), and (d) contain no exceptions to
title other than Liens permitted hereunder.

     

    
      
        
           

        

        
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    “Total Assets” of a Person or
Persons means total assets of such Persons on a consolidated basis, shown on the
most recent balance sheet of such Persons as may be expressly stated without
giving effect to amortization of the amount of intangible assets since the
Original Closing Date.

     

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

     

    “Tranche A Incremental Term
Loans” has the meaning set forth in Section 2.14(b).

     

    “Tranche A Term Lenders” means
the U.S. Tranche A Dollar Term Lenders or the Dutch Tranche A Dollar Term
Lenders, as the context requires.

     

    “Tranche A Term Loans” means
the U.S. Tranche A Dollar Term Loans or Dutch Tranche A Dollar Term Loans, as
the context requires.

     

    “Tranche B Incremental Term
Loans” has the meaning set forth in Section 2.14(b).

     

    “Tranche B Lenders” means the
U.S. Tranche B Dollar Term Lenders or the German Tranche B Euro Term Lenders, as
the context requires.

     

    “Tranche B Term Loans” means
U.S. Tranche B Dollar Term Loans or German Tranche B Euro Term Loans, as the
context requires.

     

    “Tranche B-1 Term Loans” means
U.S. Tranche B-1 Dollar Term Loans or German Tranche B-1 Euro Term Loans, as the
context requires.

     

    “Tranche B-2 Term Loans” means
U.S. Tranche B-2 Dollar Term Loans or German Tranche B-2 Euro Term Loans, as the
context requires.

     

    “Tranche B-3 Term Loans” means
U.S. Tranche B-3 Dollar Term Loans or German Tranche B-3 Euro Term Loans, as the
context requires.

     

    “Transaction” means,
collectively, the transactions contemplated by the Original Credit Agreement,
any Asset Backed Credit Facilities, Receivables Financing entered into on the
Original Closing Date, the Senior Second Lien Interim Loan Agreement, the
repayment of certain existing Indebtedness of the Company and its Subsidiaries
(including the Margin Loans) and Lyondell and its Subsidiaries, the Acquisition
(including the conversion of the Millennium 4% Convertible Debentures due 2026)
and the intercompany transfers of the proceeds of any Asset Backed Credit
Facilities or Receivables Financings funded on the Original Closing Date, the
Senior Second Lien Interim Loans and the Loans made on the Original Closing
Date, and the payment of any fees and expenses in connection
therewith.

     

    “Transaction Expenses” means
any premiums, interest, discount, fees, costs or expenses incurred or paid by
the Sponsors, the Company or any Restricted Subsidiary in connection with the
Transaction (including expenses in connection with hedging transactions), the
Original Credit Agreement, the Permanent Financing, and amendments entered into
after the Original Closing Date (and contemplated on the Original Closing Date)
of the Securitization Transactions entered into on or before the Original
Closing Date and the other Loan Documents and the transactions contemplated
hereby and thereby.

     

    
      
        
           

        

        
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    “Transferred Guarantor” has the
meaning set forth in Section 11.09.

     

    “Treasury Rate” means, at any
date, the yield to maturity as of such date of United States Treasury securities
with a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15 (519) that has become publicly available at
least two Business Days (but not more than five Business Days) prior to such
date (or, if such Statistical Release is not so published or available, any
publicly available source of similar market data selected by the Borrowers’
Agent in good faith)) equal to the period from such date to the second
anniversary of the Amendment Effective Date; provided, however, that if the period
from such date to the second anniversary of the Amendment Effective Date is not
equal to the constant maturity of a United States Treasury security for which a
weekly average yield is given, the Treasury Rate shall be obtained by linear
interpolation (calculated to the nearest one-twelfth of a year) from the weekly
average yields of United States Treasury securities for which such yields are
given, except that if the period from such date to the second anniversary of the
Amendment Effective Date is less than one year, the weekly average yield on
actually traded United States Treasury securities adjusted to a constant
maturity of one year will be used.

     

    “Treasury Services Agreement”
means any agreement between any Loan Party or Restricted Subsidiary and any
Hedge Bank relating to treasury, depository, and cash management services,
employee credit card arrangements or automated clearinghouse transfer of
funds.

     

    “Type” means, with respect to a
Loan denominated in Dollars, its character as a Base Rate Loan or a Eurocurrency
Rate Loan.

     

    “Unfunded Current Liability” of
any Plan means the amount, if any, by which the Accumulated Benefit Obligation
(as defined under Statement of Financial Accounting Standards No. 87 (“SFAS 87”)) under the Plan as
of the close of its most recent plan year, determined in accordance with SFAS 87
as in effect on the Original Closing Date, exceeds the fair market value of the
assets allocable thereto.

     

    “Uniform Commercial Code” or
“UCC” means the Uniform
Commercial Code as the same may from time to time be in effect in the State of
New York or the Uniform Commercial Code (or similar code or statute) of another
jurisdiction, to the extent it may be required to apply to any item or items of
Collateral.

     

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

     

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

     

    “Unrestricted Cash” means cash
and Cash Equivalents, other than as disclosed on the consolidated financial
statements of Company as a line item on the balance sheet as “restricted cash”
or similar caption but including cash and Cash Equivalents so disclosed as
“restricted cash” to the extent that such cash and Cash Equivalents are
restricted solely on account of being set aside for repayment, defeasing or cash
collateralizing Indebtedness included in clause (a) of the definition of
“Consolidated First Lien Senior Secured Debt” (other than cash and Cash
Equivalents under the Structured Financing Transaction).

     

    “Unrestricted Subsidiary” of
any Person means:

     

    (1)           any
Subsidiary of such Person that at any time will be or continue to be designated
an Unrestricted Subsidiary and

     

    
      
        
           

        

        
          -60-

          
            

          

        

        
           

        

      

    

     

    (2)           any
Subsidiary of an Unrestricted Subsidiary.

     

    The Board
of Directors of the Company may designate any Subsidiary (including any newly
acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary
if:

     

    (a)           such
Subsidiary does not own any Equity Interests of, or does not own or hold any
Lien on any property of, the Company or any other Subsidiary of the Company that
is not a Subsidiary of the Subsidiary to be so designated; and

     

    (b)           such
designation complies with Section 7.06.

     

    All
Investments in such Subsidiary shall be deemed an Investment in an Unrestricted
Subsidiary on such date of designation, which shall be in compliance with
Section 7.02.

     

    The Board
of Directors of the Company may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary only if:

     

                    (i)the pro forma Consolidated Fixed
Charge Coverage Ratio of the Company is at least 2.00:1.00;

     

                    (ii)immediately before and immediately
after giving effect to such designation, no Default or Event of Default will
have occurred and be continuing;

     

                    (iii)any Guarantee by the Company or any
Restricted Subsidiary of any Indebtedness of the Subsidiary being so designated
shall be deemed an incurrence of such Indebtedness and an “Investment” by the
Company or such Restricted Subsidiary (or both, if applicable) at the time of
such designation; and

     

                    (iv)if applicable, the incurrence of
Indebtedness and the Investment referred to in (iii) above would be permitted
under Section 7.03 and 7.02 respectively.

     

    Any such
designation by the Board of Directors of the Company will be evidenced to the
Administrative Agent by promptly filing with the Administrative Agent a copy of
the board resolution approving the designation and an officers’ certificate of a
Company Financial Officer certifying that the designation complied with this
Agreement.

     

    “U.S. Borrower” has the meaning
set forth in the introductory paragraph to this Agreement.

     

    “U.S. Revolving Credit Loan”
has the meaning set forth in Section 2.01(e).

     

    “U.S. Security Agreement” means
the Security Agreement substantially in the form of Exhibit F.

     

    “U.S. Swing Line Borrowing”
means a borrowing of a U.S. Swing Line Loan pursuant to Section
2.04(a).

     

    “U.S. Swing Line Facility”
means the swing line loan facility made available by the U.S. Swing Line Lender
pursuant to Section 2.04(a).

     

    “U.S. Swing Line Lender” means
Citibank, N.A., in its capacity as provider of U.S. Swing Line Loans, or any
successor swing line lender hereunder.

     

    
      
        
           

        

        
          -61-

          
            

          

        

        
           

        

      

    

     

    “U.S. Swing Line Loan” has the
meaning set forth in Section 2.04(a).

     

    “U.S. Swing Line Note” means a promissory note
of the U.S. Borrower payable to the U.S. Swing Line Lender or its registered
assigns, in substantially the form of Exhibit C-7,
evidencing the aggregate Indebtedness of the U.S. Borrower to such U.S. Swing
Line Lender resulting from the U.S. Swing Line Loans.

     

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

     

    “U.S. Swing Line Obligations”
means, as at any date of determination, the aggregate principal amount of all
U.S. Swing Line Loans outstanding.

     

    “U.S. Tranche A Dollar Term
Commitment” means, as to each U.S. Tranche A Dollar Term Lender, its
obligation to make a U.S. Tranche A Dollar Term Loan to the U.S. Borrower
pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set
forth opposite such Lender’s name on Schedule 1.01A under
the caption “U.S. Tranche A Dollar Term Commitment” or in the Assignment and
Assumption pursuant to which such U.S. Tranche A Dollar Term Lender becomes a
party hereto, as applicable, as such amount may be adjusted from time to time in
accordance with this Agreement (including Section 2.14).  The initial
aggregate amount of the U.S. Tranche A Dollar Term Commitments is
$1,500,000,000.

     

    “U.S. Tranche A Dollar Term
Lender” means, at any time, any Lender that has a U.S. Tranche A Dollar
Term Commitment or a U.S. Tranche A Dollar Term Loan at such time.

     

    “U.S. Tranche A Dollar Term
Loan” means a Loan made pursuant to Section 2.01(a).

     

    “U.S. Tranche A Dollar Term Loan
Repayment Amount” has the meaning set forth in Section
2.07(a).

     

    “U.S. Tranche A Dollar Term
Note” means a promissory note of the U.S. Borrower payable to any U.S.
Tranche A Dollar Term Lender or its registered assigns, in substantially the
form of Exhibit C-2,
evidencing the aggregate Indebtedness of the U.S. Borrower to such U.S. Tranche
A Dollar Term Lender resulting from the U.S. Tranche A Dollar Term Loans made by
such U.S. Tranche A Dollar Term Lender.

     

    “U.S. Tranche B Dollar Term
Commitment”  means, (i) as of the Original Closing Date (prior
to giving effect to this amendment and restatement) with respect to each Lender,
the amount set forth opposite such Lender’s name on Schedule 1.01A to the
Original Credit Agreement under the caption “U.S. Tranche B Dollar Term
Commitment” and (ii) as of the Amendment Effective Date with respect to each
Lender, such Lender’s U.S. Tranche B-1 Dollar Term Commitment, U.S. Tranche B-2
Dollar Term Commitment and U.S. Tranche B-3 Dollar Term Commitment.

     

    “U.S. Tranche B Dollar Term
Lender” means, at any time, any Lender that has a U.S. Tranche B Dollar
Term Commitment or a U.S. Tranche B Dollar Term Loan at such time.

     

    “U.S. Tranche B Dollar Term
Loan” means any U.S. Tranche B-1 Dollar Term Loan, U.S. Tranche B-2
Dollar Term Loan and U.S. Tranche B-3 Dollar Term Loan.

     

    “U.S. Tranche B Dollar Term Loan
Repayment Amount” means the U.S. Tranche B-1 Dollar Term Loan Repayment
Amount, U.S. Tranche B-2 Dollar Term Loan Repayment Amount and U.S. Tranche B-3
Dollar Term Loan Repayment Amount.

     

    
      
        
           

        

        
          -62-

          
            

          

        

        
           

        

      

    

     

    “U.S. Tranche B-1 Dollar Term
Commitment” means, as to each U.S. Tranche B-1 Dollar Term Lender, its
U.S. Tranche B-1 Term Loans in the amount set forth opposite such Lender’s name
on Schedule
1.01A under the caption “U.S. Tranche B-1 Dollar Term Commitment” or in
the Assignment and Assumption pursuant to which such U.S. Tranche B-1 Dollar
Term Lender becomes a party hereto, as applicable, as such amount may be
adjusted from time to time in accordance with this Agreement (including Section
2.14).  The aggregate amount of the U.S. Tranche B-1 Dollar Term
Commitments as of the Amendment Effective Date is $2,516,666,666.

     

    “U.S. Tranche B-1 Dollar Term
Lender” means, at any time, any Lender that has a U.S. Tranche B-1 Dollar
Term Commitment or a U.S. Tranche B-1 Dollar Term Loan at such
time.

     

    “U.S. Tranche B-1 Dollar Term
Loan” shall have the meaning set forth in Section 2.01(b).

     

    “U.S. Tranche B-1 Dollar Term Loan
Repayment Amount” has the meaning set forth in Section
2.07(b).

     

     “U.S. Tranche B-1 Dollar Term
Note” means a promissory note of the U.S. Borrower payable to any U.S.
Tranche B-1 Dollar Term Lender or its registered assigns, in substantially the
form of Exhibit
C-3-I, evidencing the aggregate Indebtedness of the U.S. Borrower to such
U.S. Tranche B-1 Dollar Term Lender resulting from the U.S. Tranche B-1 Dollar
Term Loans made by such U.S. Tranche B-1 Dollar Term Lender.

     

    “U.S. Tranche B-2 Dollar Term
Commitment” means, as to each U.S. Tranche B-2 Dollar Term Lender, its
U.S. Tranche B-2 Term Loans in the amount set forth opposite such Lender’s name
on Schedule
1.01A under the caption “U.S. Tranche B-2 Dollar Term Commitment” or in
the Assignment and Assumption pursuant to which such U.S. Tranche B-2 Dollar
Term Lender becomes a party hereto, as applicable, as such amount may be
adjusted from time to time in accordance with this Agreement (including Section
2.14).  The aggregate amount of the U.S. Tranche B-2 Dollar Term
Commitments as of the Amendment Effective Date is $2,516,666,667.

     

    “U.S. Tranche B-2 Dollar Term
Lender” means, at any time, any Lender that has a U.S. Tranche B-2 Dollar
Term Commitment or a U.S. Tranche B-2 Dollar Term Loan at such
time.

     

    “U.S. Tranche B-2 Dollar Term
Loan” shall have the meaning set forth in Section 2.01(b).

     

    “U.S. Tranche B-2 Dollar Term Loan
Repayment Amount” has the meaning set forth in Section
2.07(b).

     

     “U.S. Tranche B-2 Dollar Term
Note” means a promissory note of the U.S. Borrower payable to any U.S.
Tranche B-2 Dollar Term Lender or its registered assigns, in substantially the
form of Exhibit
C-3-II, evidencing the aggregate Indebtedness of the U.S. Borrower to
such U.S. Tranche B-2 Dollar Term Lender resulting from the U.S. Tranche B-2
Dollar Term Loans made by such U.S. Tranche B-2 Dollar Term Lender.

     

    “U.S. Tranche B-3 Dollar Term
Commitment” means, as to each U.S. Tranche B-3 Dollar Term Lender, its
U.S. Tranche B-3 Term Loans in the amount set forth opposite such Lender’s name
on Schedule
1.01A under the caption “U.S. Tranche B-3 Dollar Term Commitment” or in
the Assignment and Assumption pursuant to which such U.S. Tranche B-3 Dollar
Term Lender becomes a party hereto, as applicable, as such amount may be
adjusted from time to time in accordance with this Agreement (including Section
2.14).  The aggregate amount of the U.S. Tranche B-3 Dollar Term
Commitments as of the Amendment Effective Date is $2,516,666,666.

     

    
      
        
           

        

        
          -63-

          
            

          

        

        
           

        

      

    

     

    “U.S. Tranche B-3 Dollar Term
Lender” means, at any time, any Lender that has a U.S. Tranche B-3 Dollar
Term Commitment or a U.S. Tranche B-3 Dollar Term Loan at such
time.

     

    “U.S. Tranche B-3 Dollar Term
Loan” shall have the meaning set forth in Section 2.01(b).

     

    “U.S. Tranche B-3 Dollar Term Loan
Repayment Amount” has the meaning set forth in Section
2.07(b).

     

     “U.S. Tranche B-3 Dollar Term
Note” means a promissory note of the U.S. Borrower payable to any U.S.
Tranche B-3 Dollar Term Lender or its registered assigns, in substantially the
form of Exhibit
C-3-III, evidencing the aggregate Indebtedness of the U.S. Borrower to
such U.S. Tranche B-3 Dollar Term Lender resulting from the U.S. Tranche B-3
Dollar Term Loans made by such U.S. Tranche B-3 Dollar Term Lender.

     

    “USA Patriot Act” has the
meaning set forth in Section 4.01(f).

     

    “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 scheduled 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” means, with
respect to a Subsidiary of a Person, a Subsidiary of such Person all of the
outstanding Equity Interests of which (other than (x) director’s qualifying
shares and (y) shares issued to third parties, in each case in a de minimis amount and to the
extent required by applicable Law) are owned by such Person and/or by one or
more wholly owned Subsidiaries of such Person.

     

    “Working Capital Reserve
Account” means a deposit account established by the Company and
maintained with the Collateral Agent on behalf of the Secured Parties; provided that such account
shall be in the name of the Collateral Agent or shall be subject to a customary
control agreement in form and substance reasonably satisfactory to the
Collateral Agent.

     

    Section
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
meanings of defined terms are equally applicable to the singular and plural
forms of the defined terms.

     

    (b)           The
words “herein,” “hereto,” “hereof” and “hereunder” and words of similar import
when used in any Loan Document shall refer to such Loan Document as a whole and
not to any particular provision thereof.

     

    (c)           Article,
Section, Exhibit and Schedule references are to the Loan Document in which such
reference appears.

     

    (d)           The
term “including” is by way of example and not limitation.

     

    
      
        
           

        

        
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    (e)           The
term “documents” includes any and all instruments, documents, agreements,
certificates, notices, reports, financial statements and other writings, however
evidenced, whether in physical or electronic form.

     

    (f)           
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.”

     

    (g)           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.

     

    Section
1.03.         Accounting
Terms

     

    (a)           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 accordance with, GAAP, except as otherwise
specifically prescribed herein. Unless otherwise stated herein and except with
respect to Article VII and Section 11.12, references to a Person with respect to
accounting terms or items that appear in such Person’s financial statements
shall be deemed a reference to that Person and its Subsidiaries on a
consolidated basis, except for references to the Company and its Restricted
Subsidiaries, which will be deemed references to the Company and its Restricted
Subsidiaries on a consolidated basis.

     

    (b)           Notwithstanding
anything to the contrary herein, for purposes of this Agreement (including in
determining compliance with any test or covenant contained herein) with respect
to any period during which any Specified Transaction occurs, the First Lien
Senior Secured Leverage Ratio, Consolidated Debt Service Ratio and the
Consolidated Fixed Charge Coverage Ratio shall be calculated with respect to
such period and such Specified Transaction on a Pro Forma Basis.

     

    Section
1.04.          Rounding.

     

    Any
financial ratios required to be maintained by the Company pursuant to this
Agreement (or required to be satisfied in order for a specific action to be
permitted under 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).

     

    Section
1.05.          References to Agreements,
Laws, Etc.

     

    Unless
otherwise expressly provided herein, (a) references to Organization Documents,
agreements (including the Loan Documents) and other contractual instruments
shall be deemed to include all subsequent amendments, restatements, extensions,
supplements and other modifications thereto, but only to the extent that such
amendments, restatements, extensions, supplements and other modifications are
permitted by the Loan Documents; and (b) references to any Law shall include all
statutory and regulatory provisions consolidating, amending, replacing,
supplementing or interpreting such Law.

     

    Section
1.06.          Times of
Day

     

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

     

    
      
        
           

        

        
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    Section
1.07.          Timing of
Payment or Performance

     

    Unless
otherwise specified, when the payment of any obligation or the performance of
any covenant, duty or obligation is stated to be due or performance required on
a day which is not a Business Day, the date of such payment (other than as
described in the definition of Interest Period) or performance shall extend to
the immediately succeeding Business Day.

     

    Section
1.08.          Currency Equivalents
Generally

     

    Any
amount specified in this Agreement (other than in Articles II, IX and X) or any
of the other Loan Documents to be in Dollars; provided that the
determination of the Dollar Amount of any Loan or Commitment shall be made in
accordance with Section 2.15.  Notwithstanding the foregoing, for
purposes of determining compliance with Sections 7.01, 7.02 and 7.03 with
respect to any amount of Liens, Indebtedness or Investment in Euros, no Default
shall be deemed to have occurred solely as a result of changes in rates of
exchange occurring after the time such Lien is created, Indebtedness is incurred
or Investment is made; provided, however, that (x) if, any
such Lien, Indebtedness or Investment denominated in a different currency is
subject to a currency Swap Contract (with respect to Dollars) covering principal
amounts of such Lien, Indebtedness or Investment, the amount of such Lien,
Indebtedness or Investment, as the case may be, expressed in Dollars will be
adjusted to take into account the effect of such agreement; and (y) for the
avoidance of doubt, the foregoing provisions of this Section 1.08 shall
otherwise apply to such Sections, including with respect to determining whether
any Lien, Indebtedness or Investment (not previously incurred on any date) may
be incurred under such Sections.

     

    Section
1.09.          Change of
Currency

     

    Each
provision of this Agreement shall be subject to such reasonable changes of
construction as the Administrative Agent may from time to time specify with the
Company’s consent to appropriately reflect a change in currency of any country
and any relevant market conventions or practices relating to such change in
currency.

     

    Section
1.10.          Borrowers’
Agent

     

    (a)           Each
Loan Party by its execution of this Agreement or a joinder agreement pursuant to
Section 6.12(b) irrevocably authorizes:

     

    (i)     the
Borrowers’ Agent on its behalf to supply all information concerning itself
contemplated by this Agreement to the Secured Parties and to give and receive
all notices, consents, certificates and instructions (including, in the case of
a Borrower, Requests for Credit Extension), to make such agreements and to
effect the relevant amendments, supplements and variations capable of being
given, made or effected by any Loan Party, in each case, to the extent such
Borrowers’ Agent is permitted to so act pursuant to this Agreement,
notwithstanding that they may affect such Loan Party without further reference
to or the consent of such Loan Party; and

     

    (ii)    each
Secured Party to give any notice, demand or other communication to such Loan
Party pursuant to the Loan Documents to the Borrowers’ Agent.

     

    and in
each case such Loan Party shall be bound as though such Loan Party itself had
given the notices, consents, certificates and instructions (including any
Requests for Credit Extension) or executed or made the agreements or effected
the amendments, supplements or variations, or received the relevant notice,
demand or other communication.

     

    
      
        
           

        

        
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    (b)           Every
act, omission, agreement, undertaking, settlement, waiver, amendment,
supplement, variation, notice or other communication given or made by the
Borrowers’ Agent or given to the Borrowers’ Agent in its capacity under such
Loan Document on behalf of another Loan Party or in connection with any Loan
Document (whether or not known to any other Loan Party) shall be binding for all
purposes on that Loan Party as if that Loan Party had expressly made, given or
concurred with it.  This includes any amendment or waiver which would,
but for this paragraph (b), require the consent of all Guarantors.  In
the event of any conflict between any notices or other communications of the
Borrowers’ Agent in its capacity as Borrowers’ Agent and any other Loan Party,
those of the Borrowers’ Agent in its capacity as Borrowers’ Agent shall
prevail.

     

    (c)           The
Company shall be entitled to appoint one or more Subsidiaries as additional
Borrowers’ Agents and to terminate such appointments in each case provided it has first
notified the Administrative Agent of such appointment or termination and, provided further that there
shall be no more than two (2) Borrowers’ Agents at any one time. The provisions
of this Section 1.10 shall apply to each Borrowers’ Agents (including any
additional Borrowers’ Agent) until such time as
termination of the appointment of such Borrowers’ Agent is notified to the
Administrative Agent.  At any time when there is more than one
Borrowers’ Agent, the Company shall nominate (and notify the Administrative
Agent of) one such Borrowers’ Agent as the agent of all other Borrowers’ Agent
for the purpose of receiving notices of Default from the Administrative
Agent.

     

    (d)           Each
Loan Party hereby releases the Borrowers’ Agent from any restriction on
self-dealing under any applicable law arising under section 181 of the German
Civil Code (BGB).

     

    Section
1.11.          Luxembourg
Terms. With
reference to this Agreement and each other Loan Document, unless otherwise
specified herein or in such other Loan Document:

     

    (a)           a
liquidator, trustee in bankruptcy, judicial custodian, compulsory manager,
receiver, administrator receiver, administrator or similar officer includes
any:

     

    (i)            
  juge-commissaire and/or
insolvency receiver (curateur) appointed under the
Luxembourg Commercial Code;

     

    (ii)              liquidateur appointed under
Articles 141 to 151 of the Luxembourg act of 10 August 1915 on commercial
companies, as amended;

     

    (iii)              juge-commissaire and/or liquidateur appointed under
Article 203 of the Luxembourg act dated 10 August 1915 on commercial companies,
as amended;

     

    (iv)             commissaire appointed under
the Grand-Ducal decree of 24 May 1935 on the controlled management regime or
under Articles 593 to 614 of the Luxembourg Commercial Code; and

     

    (v)          
   juge
délégué appointed under the Luxembourg act of 14 April 1886 on the
composition to avoid bankruptcy, as amended;

     

    (b)           a
winding-up, administration or dissolution includes, without limitation,
bankruptcy (faillite),
liquidation, composition with creditors (concordat préventif de
faillite), moratorium or reprieve from payment (sursis de paiement) and
controlled management (gestion
contrôlée); and

     

    
      
        
           

        

        
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    (c)           a
person being unable to pay its debts includes that person being in a state of
cessation of payments (cessation de
paiements).

     

    ARTICLE
II.

     

    The Commitments and Credit
Extensions

     

    
      Section
2.01.          The
Loans

    

     

    (a)           The U.S. Tranche A Dollar Term
Borrowings.  Subject to the terms and conditions set forth
herein, each U.S. Tranche A Dollar Term Lender made U.S. Tranche A Dollar Term
Loans on the Original Closing Date to the U.S. Borrower in an amount equal to
such U.S. Tranche A Dollar Term Lender’s U.S. Tranche A Dollar Term
Commitment.  Amounts borrowed under this Section 2.01(a) and repaid or
prepaid may not be reborrowed.

     

    (b)           The U.S. Tranche B Dollar Term
Borrowings.  Subject to the terms and conditions set forth
herein, each U.S. Tranche B Dollar Term Lender made U.S. Tranche B Dollar Term
Loans on the Original Closing Date to the U.S. Borrower in an amount equal to
such U.S. Tranche B Dollar Term Lender’s U.S. Tranche B Dollar Term
Commitment.  Amounts borrowed under this Section 2.01(b) and repaid or
prepaid may not be reborrowed.

     

    On the
Amendment Effective Date, the U.S. Tranche B Dollar Term Commitments shall be
amended to be subdivided into U.S. Tranche B-1 Dollar Term Commitments (which
loans thereunder are herein referred to as the “U.S. Tranche B-1 Dollar Term
Loans”), U.S. Tranche B-2 Dollar Term Commitments (which loans thereunder
are herein referred to as the “U.S. Tranche B-2 Dollar Term
Loans”) and U.S. Tranche B-3 Dollar Term Commitments (which loans
thereunder are herein referred to as the “U.S. Tranche B-3 Dollar Term
Loans”), in each case, in the respective amounts set forth opposite each
Lender’s name on Schedule
1.01A.

     

    (c)           The Dutch Tranche A Dollar Term
Borrowings.  Subject to the terms and conditions set forth
herein, each Dutch Tranche A Dollar Term Lender made Dutch Tranche A Dollar Term
Loans on the Original Closing Date to Basell Holdings in an amount equal to such
Dutch Tranche A Dollar Term Lender’s Dutch Tranche A Dollar Term
Commitment.  Amounts borrowed under this Section 2.01(c) and repaid or
prepaid may not be reborrowed.

     

    (d)           The German Tranche B Euro Term
Borrowings.  Subject to the terms and conditions set forth
herein, each German Tranche B Euro Term Lender made German Tranche B Euro Term
Loans on the Original Closing Date to the German Borrower in an amount equal to
such German Tranche B Euro Term Lender’s German Tranche B Euro Term
Commitment.  Amounts borrowed under this Section 2.01(d) and repaid or
prepaid may not be reborrowed.

     

    On the
Amendment Effective Date, the German Tranche B Euro Term Commitments shall be
amended to be subdivided into German Tranche B-1 Euro Term Commitments (which
loans thereunder are herein referred to as the “German Tranche B-1 Euro Term
Loans”), German Tranche B-2 Euro Term Commitments (which loans thereunder
are herein referred to as the “German Tranche B-2 Euro Term
Loans”) and German Tranche B-3 Euro Term Commitments (which loans
thereunder are herein referred to as the “German Tranche B-3 Euro Term
Loans”), in each case, in the respective amounts set forth opposite each
Lender’s name on Schedule
1.01A.

     

    (e)           The Revolving Credit
Borrowings.  Subject to the terms and conditions set forth
herein, each (i) Primary Revolving Credit Lender severally agrees to make
revolving loans (A) denominated in Dollars or an Alternative Currency as
elected by the Borrowers’ Agent pursuant to Section 2.02 to the U.S. Borrower
from its applicable Lending Office (each such loan, a “U.S. Revolving Credit Loan”)
from time to time, on any Business Day until the Maturity Date and (B) the
Non-U.S. Borrowers in Euro or Sterling from its applicable Lending Office (each
such loan, a “European
Revolving Credit Loan”, and each U.S. Revolving Credit Loan and European
Revolving Credit Loan being a “Primary Revolving Credit
Loan”) from time to time, on any Business Day until the Maturity Date, in
an aggregate Dollar Amount not to exceed at any time outstanding the amount of
such Primary Revolving Credit Lender’s Primary Revolving Credit Commitment;
provided that after
giving effect to any Primary Revolving Credit Borrowing, the aggregate
Outstanding Amount of the Primary Revolving Credit Loans of any Primary
Revolving Credit Lender, plus such Primary Revolving Credit Lender’s Pro Rata
Share of the Outstanding Amount of all Primary L/C Obligations, plus such
Primary Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of
all Swing Line Loans shall not exceed such Primary Revolving Credit Lender’s
Primary Revolving Credit Commitment  and (ii) each Dutch Revolving
Credit Lender severally agrees to make Dutch Revolving Credit Loans denominated
in Dollars or an Alternative Currency as elected by either Dutch Borrower
pursuant to Section 2.02 to such Dutch Borrower from its applicable Lending
Office (each such loan, a “Dutch Revolving Credit Loan”
and, together with the Primary Revolving Credit Loans, the “Revolving Credit Loans”) from
time to time, on any Business Day until the Maturity Date, in an aggregate
Dollar Amount not to exceed at any time outstanding the amount of such Lender’s
Dutch Revolving Credit Commitment; provided that after giving
effect to any Dutch Revolving Credit Borrowing, the aggregate Outstanding Amount
of the Dutch Revolving Credit Loans of any Dutch Revolving Credit Lender, plus
such Dutch Revolving Credit Lender’s Pro Rata Share of the Outstanding Amount of
all Dutch L/C Obligations shall not exceed such Dutch Revolving Credit Lender’s
Dutch Revolving Credit Commitment.  Within the limits of each
Revolving Credit Lender’s Revolving Credit Commitments, and subject to the other
terms and conditions hereof, each Borrower may borrow under this Section
2.01(e), prepay under Section 2.05, and reborrow under this Section
2.01(e).  U.S. Revolving Credit Loans may be Base Rate Loans or
Eurocurrency Rate Loans and European Revolving Credit Loans shall be
Eurocurrency Rate Loans.  Subject to, and to the extent provided in,
Article XII, Revolving Credit Loans denominated in an Alternative Currency (the
“Specified Foreign
Currency”) that are required to be made by a Participating Specified
Foreign Currency Lender pursuant to this Section 2.01(e) shall instead be made
by Citibank, N.A., London Branch and purchased and settled by such Participating
Specified Foreign Currency Lender in accordance with Article XII.

     

    
      
        
           

        

        
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      Section
2.02.          Borrowings, Conversions and
Continuations of Loans

    

     

    (a)           Each
Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans
or Revolving Credit Loans from one Type to the other, and each continuation of
Eurocurrency Rate Loans shall be made upon the Borrowers’ Agent’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 (i) 12:30 p.m. (New York, New York time in the case of
any Borrowing by the U.S. Borrower) and 5:30 p.m. (London, United Kingdom time
in the case of any Borrowing by a Non-U.S. Borrower) three (3) Business Days
prior to the requested date of any Borrowing or continuation of Eurocurrency
Rate Loans or any conversion of Base Rate Loans to Eurocurrency Rate Loans, and
(ii) 11:00 a.m. (New York, New York time in the case of any Borrowing
by the U.S. Borrower) and 4:00 p.m. (London, United Kingdom time in the case of
any Borrowing by a Non-U.S. Borrower) on the requested date of any Borrowing of
Base Rate Loans or any conversion of Eurocurrency Rate Loans to Base Rate
Loans.  Each telephonic notice by the Borrowers’ Agent pursuant to
this Section 2.02(a) must be confirmed promptly by delivery to the
Administrative Agent of a written Committed Loan Notice, appropriately completed
and signed by a Responsible Officer of the Borrowers’ Agent.  Except
as provided in Section 2.14(a), each Borrowing of, conversion to or continuation
of Eurocurrency Rate Loans shall be in a minimum principal amount of $5,000,000,
€5,000,000 or £5,000,000, as applicable, or a whole multiple of $1,000,000,
€1,000,000 or £1,000,000, as applicable, in excess thereof.  Except as
provided in Section 2.03(c), 2.04(c) or 2.14(a) each Borrowing of or conversion
to Base Rate Loans shall be in a minimum principal amount of $1,000,000 or a
whole multiple of $500,000 in excess thereof.  Each Committed Loan
Notice (whether telephonic or written) shall specify (i) whether the Borrowers’
Agent is requesting a Term Loan Borrowing, a Revolving Credit Borrowing, a
conversion of Term Loans or Revolving Credit Loans from one Type to the other,
or a continuation of Eurocurrency 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) in the case of a Borrowing, the currency in which the Loans to
be borrowed are to be denominated, (v) the Type of Loans to be borrowed or to
which existing Term Loans or Revolving Credit Loans are to be converted, and
(vi) if applicable, the duration of the Interest Period with respect
thereto.  If with respect to Loans denominated in Dollars the
Borrowers’ Agent fails to specify a Type of Loan in a Committed Loan Notice or
fails to give a timely notice requesting a conversion or continuation, then the
applicable Term Loans or Revolving Credit 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 Eurocurrency Rate Loans.  If the Borrowers’
Agent requests a Borrowing of, conversion to, or continuation of Eurocurrency
Rate Loans in any such Committed Loan Notice, but fails to specify an Interest
Period (or fails to give a timely notice requesting a continuation of
Eurocurrency Rate Loans denominated in an Alternative Currency), it will be
deemed to have specified an Interest Period of one (1) month.  If no
currency is specified, the requested Borrowing shall be

     

    
      
        
           

        

        
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    (A)           in
the case of Term Loans, in (i) Dollars if to any Borrower other than the German
Borrower or (ii) Euros if to the German Borrower or

     

    (B)           in
the case of Revolving Credit Loans, in (i) Dollars if to the U.S. Borrower or
(ii) Euros if to any Non-U.S. Borrower.

     

    (b)           Following
receipt of a Committed Loan Notice, the Administrative Agent shall promptly
notify each Appropriate Lender of the amount of its Pro Rata Share of the
applicable Class of Loans, and if no timely notice of a conversion or
continuation is provided by the Borrowers’ Agent, the Administrative Agent shall
notify each Lender of the details of any automatic conversion to Base Rate Loans
or continuation described in Section 2.02(a).  In the case of each
Borrowing, each Appropriate Lender shall make the amount of its Loan available
to the Administrative Agent in Same Day Funds at the Administrative Agent’s
Office for the applicable currency not later than 1:00 p.m. (New York, New York
time in the case of any Loan denominated in Dollars and London, United Kingdom
time in the case of any Loan denominated in an Alternative Currency) in each
case on the Business Day specified in the applicable Committed Loan
Notice.  The Administrative Agent shall make all funds so received
available to the applicable Borrower in like funds as received by the
Administrative Agent either by (i) crediting the account of such Borrower on the
books of Citibank, N.A. 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 Borrowers’ Agent;
provided that if, on
the date the Committed Loan Notice with respect to such Borrowing is given by
the Borrowers’ Agent, there are Swing Line Loans or L/C Borrowings outstanding,
then the proceeds of such Borrowing shall be applied, first, to the payment
in full of any such L/C Borrowing, second, to the
payment in full of any such Swing Line Loans, and third, to such
Borrower as provided above.

     

    (c)           Except
as otherwise provided herein, a Eurocurrency Rate Loan may be continued or
converted only on the last day of an Interest Period for such Eurocurrency Rate
Loan unless the applicable Borrower pays the amount due, if any, under Section
3.05 in connection therewith.  During the existence of an Event of
Default, the Administrative Agent or the Required Lenders may require that no
Loans denominated in Dollars may be converted to or continued as Eurocurrency
Rate Loans.

     

    
      
        
           

        

        
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    (d)           The
Administrative Agent shall promptly notify the Borrowers’ Agent and the
Appropriate Lenders of the interest rate applicable to any Interest Period for
Eurocurrency Rate Loans upon determination of such interest rate.  The
determination of the Eurocurrency Rate by the Administrative Agent shall be
conclusive in the absence of manifest error.  At any time that Base
Rate Loans are outstanding, the Administrative Agent shall notify the Borrowers’
Agent and the Appropriate Lenders of any change in the Citibank, N.A. prime rate
used in determining the Base Rate promptly following the public announcement of
such change.

     

    (e)           After
giving effect to all Term Loan Borrowings, all Revolving Credit Borrowings, all
conversions of Term Loans and Revolving Credit Loans from one Type to the other,
and all continuations of Term Loans and Revolving Credit Loans as the same Type,
there shall not be more than thirty (30) Interest Periods in effect (it being
understood that a Revolving Credit Borrowing, conversion or continuation in
Dollars or an Alternative Currency that is divided among Classes in accordance
with Section 2.02(a) shall be deemed to relate to only one Interest Period
solely for purposes of this sentence).

     

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

     

    
      Section
2.03.          Letters of
Credit

    

     

    (a)           The Letter of Credit
Commitment.  (i)  Subject to the terms and conditions
set forth herein, (A)(1) each L/C Issuer agrees, in reliance upon the agreements
of the other Primary Revolving Credit Lenders set forth in this Section 2.03,
(x) from time to time on any Business Day during the period from the Original
Closing Date until the Letter of Credit Expiration Date, to issue Primary
Letters of Credit denominated in Dollars, an Alternative Currency or any other
currency the L/C Issuer shall agree for the account of any Borrower (provided that any Primary
Letter of Credit may be issued on behalf of any Person; provided that, if issued on
behalf of any Person other than a Borrower, such Primary Letter of Credit is for
the account of and counter-indemnified by a Borrower) and to amend or renew
Primary Letters of Credit previously issued by it, in accordance with Section
2.03(b), and (y) to honor drafts under the Primary Letters of Credit and (2) the
Primary Revolving Credit Lenders severally agree to participate in Primary
Letters of Credit issued pursuant to this Section 2.03 and (B)(1) each L/C
Issuer agrees, in reliance upon the agreements of the other Dutch Revolving
Credit Lenders set forth in this Section 2.03, (x) from time to time on any
Business Day during the period from the Original Closing Date until the Letter
of Credit Expiration Date, to issue Dutch Letters of Credit denominated in
Dollars, an Alternative Currency or any other currency the Dutch Letter of
Credit Issuer shall agree for the account of any Borrower (provided that any Dutch
Letter of Credit may be issued on behalf of any Person; provided that, if issued on
behalf of any Person other than a Dutch Borrower, such Dutch Letter of Credit is
for the account of and counter-indemnified by a Dutch Borrower) and to amend or
renew Dutch Letters of Credit previously issued by it, in accordance with
Section 2.03(b), and (y) to honor drafts under the Dutch Letters of Credit and
(B) the Dutch Revolving Credit Lenders severally agree to participate in Dutch
Letters of Credit issued pursuant to this Section 2.03; provided that no L/C Issuer
shall be obligated to make any L/C Credit Extension with respect to any Letter
of Credit, and no Primary Revolving Credit Lender shall be obligated to
participate in any Letter of Credit if as of the date of such L/C Credit
Extension, (x) the Revolving Credit Exposure of any Revolving Credit Lender
would exceed such Revolving Credit Lender’s Revolving Credit Commitment or (y)
the Outstanding Amount of the L/C Obligations would exceed the Primary Letter of
Credit Sublimit or Dutch Letter of Credit Sublimit, as
applicable.  Within the foregoing limits, and subject to the terms and
conditions hereof, each Borrower’s ability to obtain Letters of Credit shall be
fully revolving, and accordingly each 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.  All Existing Letters of Credit
shall be deemed to be issued hereunder and shall constitute Letters of Credit
subject to the terms hereof.

     

    
      
        
           

        

        
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    (ii)           An
L/C Issuer shall be under no 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 such L/C Issuer from issuing such Letter
of Credit, or any Law applicable to such L/C Issuer or any directive (whether or
not having the force of law) from any Governmental Authority with jurisdiction
over such L/C Issuer shall prohibit, or direct that such L/C Issuer refrain
from, the issuance of letters of credit generally or such Letter of Credit in
particular;

     

    (B)           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 renewal,
unless (i) the Lenders holding a majority of the Primary Revolving Credit
Commitments have approved such expiry date or such expiration date for such type
of Letter of Credit or (ii) such later expiry date for such type of Letter
of Credit is required in connection with certain performance bonds in respect of
licensing agreements, in respect of leases and other agreements entered into in
the ordinary course of business with a term longer than twelve months or as
backstop collateral for standby equity commitments in respect of joint ventures,
in each case consistent with the past practice of the Loan Parties;

     

    (C)           the
expiry date of such requested Letter of Credit would occur after the Letter of
Credit Expiration Date, unless all the Primary Revolving Credit Lenders have
approved such expiry date;

     

    (D)           the
issuance of such Letter of Credit would violate any Laws binding upon such L/C
Issuer or any internal compliance policies of the L/C Issuer;

     

    (E)           such
Letter of Credit is in an initial amount less than $10,000 (or €10,000 if
denominated in Euros or £10,000 if denominated in Sterling); or

     

    (F)           such
request for such Letter of Credit was received by such L/C Issuer and the
Administrative Agent less than 30 days prior to the Maturity Date for the
Primary Revolving Credit Facility or such request provides for an issuance of
such Letter of Credit less than 30 days prior to the Maturity Date for the
Primary Revolving Credit Facility.

     

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

     

    (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 a Borrowers’ Agent delivered
to an 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 such Borrowers’ Agent.  Such Letter of Credit
Application must be received by the relevant L/C Issuer and the Administrative
Agent not later than 12:30 p.m. (New York, New York time in the case of any
Letter of Credit issued on behalf of a U.S. entity and London, United Kingdom
time in the case of any Letter of Credit issued on behalf of a Non-U.S. Person
or, so long as ABN AMRO is an L/C Issuer, Central European Time) at least two
(2) Business Days prior to the proposed issuance date or date of amendment, as
the case may be, or, in each case, such later date and time as the relevant L/C
Issuer may agree in a particular instance in its sole discretion.  In
the case of a request for an initial issuance of a Letter of Credit, such Letter
of Credit Application shall (unless otherwise agreed with the relevant L/C
Issuer) specify in form and detail reasonably satisfactory to the relevant 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 currency in which the requested Letter of
Credit will be denominated; and (H) such other matters as the relevant L/C
Issuer may reasonably request.  In the case of a request for an
amendment of any outstanding Letter of Credit, such Letter of Credit Application
shall (unless otherwise agreed with the relevant L/C Issuer) specify in form and
detail reasonably satisfactory to the relevant L/C Issuer (1) the Letter of
Credit to be amended; (2) the proposed date of amendment thereof (which shall be
a Business Day); (3) the nature of the proposed amendment; and (4) such
other matters as the relevant L/C Issuer may reasonably request.

     

    
      
        
           

        

        
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    (ii)            Promptly
after receipt of any Letter of Credit Application, the relevant 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 Borrowers’ Agent and, if not, such L/C Issuer will provide the
Administrative Agent with a copy thereof.  Upon receipt by the
relevant L/C Issuer of confirmation from the Administrative Agent that the
requested issuance or amendment is permitted in accordance with the terms
hereof, then, subject to the terms and conditions hereof, such L/C Issuer shall,
on the requested date, issue a Letter of Credit for the account of any Borrower
(provided that a Letter
of Credit may be issued on behalf of any Person; provided that any Letter of
Credit issued on behalf of a Person other than a Borrower shall be
counter-indemnified by a Borrower) or enter into the applicable amendment, as
the case may be.  Immediately upon the issuance of (x) each Primary
Letter of Credit, each Primary Revolving Credit Lender shall be deemed to, and
hereby irrevocably and unconditionally agrees to, purchase from the relevant L/C
Issuer a risk participation in such Primary Letter of Credit in an amount equal
to the product of such Lender’s Pro Rata Share times the amount of such Primary
Letter of Credit and (y) each Dutch Letter of Credit, each Dutch Revolving
Credit Lender shall be deemed to, and hereby irrevocably and unconditionally
agrees to, purchase from the relevant L/C Issuer a risk participation in such
Dutch Letter of Credit in an amount equal to the product of such Lender’s Pro
Rata Share times the amount of such Dutch Letter of Credit.

     

    (iii)           If
the Borrowers’ Agent so requests in any applicable Letter of Credit Application,
the relevant L/C Issuer shall 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 relevant 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 date (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 relevant L/C
Issuer, the Borrowers’ Agent shall not be required to make a specific request to
the relevant 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 relevant 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 that the relevant
L/C Issuer shall not be required to permit any such extension if (A) the
relevant L/C Issuer has determined that it would have no obligation at such time
to issue such Letter of Credit in its extended form under the terms hereof (by
reason of the provisions of Section 2.03(a)(ii) or otherwise), or (B) it has
received notice (which may be by telephone or in writing) on or before the day
that is five (5) Business Days before the Non-extension Notice Date from the
Administrative Agent, that the Primary Revolving Credit Lenders have elected not
to permit such extension and that one or more of the applicable conditions
specified in Section 4.02 is not then satisfied.

     

    
      
        
           

        

        
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    (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 relevant L/C Issuer shall also deliver to the Borrowers’ Agent 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 a drawing under such Letter
of Credit, the relevant L/C Issuer shall promptly notify the Borrowers’ Agent
and the Administrative Agent thereof.  Not later than 11:00 a.m. (New
York, New York time in the case of any Letter of Credit issued on behalf of a
U.S. entity and London, United Kingdom time in the case of any Letter of Credit
issued on behalf of a Non-U.S. Person and so long as ABN AMRO is an L/C Issuer,
Central European Time) on the second Business Day immediately following any
payment by an L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the applicable
Borrower shall reimburse such L/C Issuer through the Administrative Agent in an
amount equal to the amount of such drawing.  If the applicable
Borrower fails to so reimburse such L/C Issuer by such time, the Administrative
Agent shall promptly notify each Appropriate Lender of the Honor Date, the
amount of the unreimbursed drawing (expressed in Dollars in the Dollar Amount
thereof in the case of an Alternative Currency) (the “Unreimbursed Amount”), and the
amount of such Appropriate Lender’s Pro Rata Share thereof.  In such
event, (x) in the case of an Unreimbursed Amount under a Primary Letter of
Credit, the applicable Borrower shall be deemed to have requested a Primary
Revolving Credit Borrowing of Base Rate Loans and (y) in the case of an
Unreimbursed Amount under a Dutch Letter of Credit, the applicable Borrower
shall be deemed to have requested a Dutch Revolving Credit Borrowing of Base
Rate Loans, in each case 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
amount of the unutilized portion of the Primary Revolving Credit Commitments of
the Appropriate Lenders and the conditions set forth in Section 4.02 (other than
the delivery of a Committed Loan Notice).  Any notice given by an 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.

     

    (ii)            Each
Appropriate Lender (including any Lender acting as an L/C Issuer) shall upon any
notice pursuant to Section 2.03(c)(i) make funds available to the Administrative
Agent for the account of the relevant L/C Issuer, in Dollars, at the
Administrative Agent’s Office for payments in an amount equal to its Pro Rata
Share 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 Appropriate Lender that so makes funds
available shall be deemed to have made a Base Rate Loan to the applicable
Borrower in such amount.  The Administrative Agent shall remit the
funds so received to the relevant L/C Issuer.

     

    (iii)           With
respect to any Unreimbursed Amount that is not fully refinanced by a Primary
Revolving Credit Borrowing of Base Rate Loans because the conditions set forth
in Section 4.02 cannot be satisfied or for any reason, the applicable Borrower
shall be deemed to have incurred from the relevant L/C Issuer a Primary L/C
Borrowing in the amount of the Unreimbursed Amount that is not so refinanced,
which Primary L/C Borrowing shall be due and payable on demand (together with
interest).  In such event, each Appropriate Lender’s payment to the
Administrative Agent for the account of the relevant L/C Issuer pursuant to
Section 2.03(c)(ii) shall be deemed payment in respect of its participation in
such Primary L/C Borrowing and shall constitute an Primary L/C Advance from such
Lender in satisfaction of its participation obligation under this Section
2.03.  With respect to any Unreimbursed Amount that is not fully
refinanced by a Dutch Revolving Credit Borrowing of Base Rate Loans because the
conditions set forth in Section 4.02 cannot be satisfied or for any reason, the
applicable Borrower shall be deemed to have incurred from the relevant L/C
Issuer an Dutch L/C Borrowing in the amount of the Unreimbursed Amount that is
not so refinanced, which Dutch L/C Borrowing shall be due and payable on demand
(together with interest).  In such event, each Appropriate Lender’s
payment to the Administrative Agent for the account of the relevant L/C Issuer
pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its
participation in such Dutch L/C Borrowing and shall constitute a Dutch L/C
Advance from such Lender in satisfaction of its participation obligation under
this Section 2.03.

     

    
      
        
           

        

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

     

    (v)            Each
Revolving Credit Lender’s obligation to make Revolving Credit Loans or L/C
Advances to reimburse an 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 relevant L/C Issuer, the applicable 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
that each Revolving Credit Lender’s obligation to make Revolving Credit Loans
pursuant to this Section 2.03(c) is subject to the conditions set forth in
Section 4.02 (other than delivery by the Borrowers’ Agent of a Committed Loan
Notice ).  No such making of an L/C Advance shall relieve or otherwise
impair the obligation of the applicable Borrower to reimburse the relevant L/C
Issuer for the amount of any payment made by such L/C Issuer under any Letter of
Credit, together with interest as provided herein.

     

    (vi)           If
any Revolving Credit Lender fails to make available to the Administrative Agent
for the account of the relevant 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), such 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 such L/C
Issuer at a rate per annum equal to the applicable Overnight Rate from time to
time in effect.  A certificate of the relevant L/C Issuer submitted to
any Revolving Credit Lender (through the Administrative Agent) with respect to
any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent
manifest error.

     

    (d)            Repayment of
Participations.  (i)  If, at any time after an L/C
Issuer has made a payment under any Letter of Credit and has received from any
Revolving Credit Lender such Lender’s L/C Advance in respect of such payment in
accordance with Section 2.03(c), the Administrative Agent receives for the
account of such L/C Issuer any payment in respect of the related Unreimbursed
Amount or interest thereon (whether directly from the applicable Borrower or
otherwise, including proceeds of Cash Collateral applied thereto by the
Administrative Agent), the Administrative Agent will distribute to such Lender
its Pro Rata Share thereof (appropriately adjusted, in the case of interest
payments, to reflect the period of time during which such Lender’s L/C Advance
was outstanding) in the same funds as those received by the Administrative
Agent.

     

    
      
        
           

        

        
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    (ii)           If
any payment received by the Administrative Agent for the account of an L/C
Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of
the circumstances described in Section 10.06 (including pursuant to any
settlement entered into by such L/C Issuer in its discretion), each Appropriate
Lender shall pay to the Administrative Agent for the account of such L/C Issuer
its Pro Rata Share 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 applicable Overnight Rate from time to
time in effect.

     

    (e)           Obligations
Absolute.  The obligation of the applicable Borrower to
reimburse the relevant L/C Issuer for each drawing under each Letter of Credit
issued by it 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 agreement or instrument relating
thereto;

     

    (ii)                  the
existence of any claim, counterclaim, setoff, defense or other right that any
Loan Party 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 relevant 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 relevant 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 relevant 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;

     

    (v)                  any
exchange, release or nonperfection of any Collateral, or any release or
amendment or waiver of or consent to departure from the Guaranty or any other
guarantee, for all or any of the Obligations of any Loan Party in respect of
such Letter of Credit; or

     

    (vi)                  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;

     

    provided that the foregoing
shall not excuse any L/C Issuer from liability to the applicable Borrower to the
extent of any direct damages (as opposed to consequential damages, claims in
respect of which are waived by the applicable Borrower to the extent permitted
by applicable Law) suffered by the applicable Borrower that are caused by such
L/C Issuer’s gross negligence or willful misconduct when determining whether
drafts and other documents presented under a Letter of Credit comply with the
terms thereof.

     

    
      
        
           

        

        
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    (f)           Role of L/C
Issuers.  Each Lender and each Borrower agree that, in paying
any drawing under a Letter of Credit, the relevant L/C Issuer shall not have any
responsibility to obtain any document (other than any sight draft, certificates
and documents expressly required by the 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
Issuers, any Agent-Related Person nor any of the respective correspondents,
participants or assignees of any 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, the Lenders holding a majority of the Primary
Revolving Credit Commitments or the Lenders holding a majority of the Dutch
Revolving Credit Commitments, 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 Letter of Credit
Application.  Each 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
that this assumption is not intended to, and shall not, preclude such 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
Issuers, any Agent-Related Person, nor any of the respective correspondents,
participants or assignees of any L/C Issuer, shall be liable or responsible for
any of the matters described in clauses (i) through (vi) of Section 2.03(e);
provided that anything
in such clauses to the contrary notwithstanding, each Borrower may have a claim
against an L/C Issuer, and such L/C Issuer may be liable to such Borrower, to
the extent, but only to the extent, of any direct, as opposed to consequential
or exemplary, damages suffered by such Borrower which such Borrower proves were
caused by such L/C Issuer’s willful misconduct or gross negligence or such L/C
Issuer’s willful or grossly negligent 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, each
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 no L/C Issuer shall 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)           Cash
Collateral.  If (i) an 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 and the conditions set forth in Section 4.02 to a Revolving
Credit Borrowing cannot then be met (and a backstop letter of credit reasonably
acceptable to the L/C Issuer is not provided as collateral for such Letter of
Credit), (ii) as of the Letter of Credit Expiration Date, any Letter of Credit
may for any reason remain outstanding and partially or wholly undrawn (and a
backstop letter of credit reasonably acceptable to the L/C Issuer is not
provided as collateral for such Letter of Credit), (iii) any Event of Default
occurs and is continuing and the Administrative Agent, the Lenders holding a
majority of the Primary Revolving Credit Commitments or the Lenders holding a
majority of the Dutch Revolving Credit Commitments, as applicable, require the
applicable Borrower to Cash Collateralize the L/C Obligations pursuant to
Section 8.02(a) or (iv) an Event of Default set forth under Section 8.01(f) or
(g) occurs and is continuing, then such Borrower shall Cash Collateralize the
then Outstanding Amount of all L/C Obligations (in an amount equal to such
Outstanding Amount determined as of the date of such L/C Borrowing or the Letter
of Credit Expiration Date, as the case may be), and shall do so not later than
3:00 p.m. (New York, New York time in the case of any Letter of Credit issued on
behalf of a U.S. entity and London, United Kingdom time in the case of any
Letter of Credit issued on behalf of a Non-U.S. Person, and, so long as ABN AMRO
is an L/C Issuer, Central European Time), (x) in the case of the immediately
preceding clauses (i) and (iii), (1) the Business Day that such Borrower
receives notice thereof, if such notice is received on such day prior to 11:00
a.m., or (2) if clause (1) above does not apply, the Business Day immediately
following the day that the Borrowers’ Agent receives such notice, (y) in the
case of the immediately preceding clause (ii), the Business Day that is thirty
(30) days prior to the Maturity Date with respect to the Revolving Credit
Facilities, or if such date is not a Business Day, the next succeeding Business
Day and (z) in the case of the immediately preceding clause (iv), the Business
Day on which an Event of Default set forth under Section 8.01(f) or (g) occurs
or, if such day is not a Business Day, the Business Day immediately succeeding
such day.  “Cash
Collateralize” means to pledge and deposit with or deliver to the
Administrative Agent, for the benefit of the relevant L/C Issuer and the
Lenders, as collateral for the L/C Obligations, cash or deposit account balances
(“Cash Collateral”)
pursuant to documentation in form and substance reasonably satisfactory to the
Administrative Agent and the relevant L/C Issuer (which documents are hereby
consented to by the Lenders).  Derivatives of such term have
corresponding meanings.  Each Borrower hereby grants to the
Administrative Agent, for the benefit of the L/C Issuers and the Lenders, a
security interest in all such cash, deposit accounts and all balances therein
and all proceeds of the foregoing.  Cash Collateral shall be
maintained in blocked accounts at the Administrative Agent and may be invested
in readily available Cash Equivalents.  If at any time the
Administrative Agent determines that any funds held as Cash Collateral are
subject to any right or claim of any Person other than the Administrative Agent
(on behalf of the Secured Parties) or that the total amount of such funds is
less than the aggregate Outstanding Amount of all L/C Obligations, the
applicable Borrower will, forthwith upon demand by the Administrative Agent, pay
to the Administrative Agent, as additional funds to be deposited and held in the
deposit accounts at the Administrative Agent as aforesaid, an amount equal to
the excess of (a) such aggregate Outstanding Amount over (b) the total amount of
funds, if any, then held as Cash Collateral that the Administrative Agent
reasonably determines to be free and clear of any such right and
claim.  Upon the drawing of any Letter of Credit for which funds are
on deposit as Cash Collateral, such funds shall be applied, to the extent
permitted under applicable Law, to reimburse the relevant L/C
Issuer.  To the extent the amount of any Cash Collateral exceeds the
then Outstanding Amount of such L/C Obligations and so long as no Event of
Default has occurred and is continuing, the excess shall be refunded to the
applicable Borrower.

     

    
      
        
           

        

        
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    (h)           Letter of Credit
Fees.  (i)  On the fifth Business Day after Letter of
Credit Fees are calculated in respect of Primary Letters of Credit pursuant to
the next succeeding sentence, each Borrower shall pay to the Administrative
Agent for the account of each Primary Revolving Credit Lender in accordance with
its Pro Rata Share a fee for each Primary Letter of Credit issued for the
account of such Borrower equal to the Applicable Rate times the daily maximum
amount then available to be drawn under such Primary Letter of Credit (whether
or not such maximum amount is then in effect under such Primary Letter of Credit
if such maximum amount increases periodically pursuant to the terms of such
Primary Letter of Credit). Fees in respect of Primary Letters of Credit shall be
paid in Dollars.  Such letter of credit fees shall be calculated and
accrued 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 Primary Letter of Credit, on the Letter of Credit Expiration Date and
thereafter on demand.  If there is any change in the Applicable Rate
during any quarter, the daily maximum amount of each Primary 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.

     

    (ii)           On
the fifth Business Day after Letter of Credit Fees are calculated in respect of
Dutch Letters of Credit pursuant to the next succeeding sentence, each Borrower
shall pay to the Administrative Agent for the account of each Dutch Revolving
Credit Lender in accordance with its Pro Rata Share a fee for each Dutch Letter
of Credit issued for the account of such Borrower equal to the Applicable Rate
times the daily maximum amount then available to be drawn under such Dutch
Letter of Credit (whether or not such maximum amount is then in effect under
such Dutch Letter of Credit if such maximum amount increases periodically
pursuant to the terms of such Dutch Letter of Credit).  Fees in
respect of Dutch Letters of Credit shall be paid in Dollars.  Such
letter of credit fees shall be calculated and accrued 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 Dutch Letter of Credit, on
the Letter of Credit Expiration Date and thereafter on demand.  If
there is any change in the Applicable Rate during any quarter, the daily maximum
amount of each Dutch 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.

     

    
      
        
           

        

        
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    (i)           Fronting Fee and Documentary and
Processing Charges Payable to L/C Issuers.  Each Borrower shall
pay directly to each L/C Issuer for its own account a fronting fee with respect
to each Letter of Credit issued by such L/C Issuer for the account of such
Borrower equal to 0.125% per annum.  This fee shall be calculated on a
quarterly basis upfront for the lifetime of the Letter of Credit.  If
a Letter of Credit expires or is cancelled or is called before the end of a
quarter there will be a refund on a pro rata basis of the fees for the remainder
of the quarter that is not used.  In addition, each Borrower shall pay
directly to each L/C Issuer for its own account with respect to each Letter of
Credit issued to such Borrower the customary issuance, presentation, amendment
and other processing fees, and other standard costs and charges, of such 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 within ten (10) Business Days of demand and are
nonrefundable.

     

    (j)           Conflict with Letter of Credit
Application.  Notwithstanding anything else to the contrary in
this Agreement, in the event of any conflict between the terms hereof and the
terms of any Letter of Credit Application, the terms hereof shall
control.

     

    (k)           Addition of an L/C
Issuer.  A Revolving Credit Lender may become an additional L/C
Issuer hereunder pursuant to a written agreement among the Borrowers’ Agent, the
Administrative Agent and such Revolving Credit Lender.  The
Administrative Agent shall notify the Revolving Credit Lenders of any such
additional L/C Issuer.

     

    Section
2.04.         Swing Line
Loans

     

    (a)           The U.S. Swing
Line.  Subject to the terms and conditions set forth herein,
Citibank, N.A. in its capacity as U.S. Swing Line Lender agrees to make loans in
U.S. Dollars to the U.S. Borrower so long as such Borrower has an account at
such Swing Line Lender (each such loan, a “U.S. Swing Line Loan”) from
time to time on any Business Day (other than the Original Closing Date) until
the Maturity Date in an aggregate amount taken together with European Swing Line
Loans, not to exceed at any time the amount of the Swing Line Sublimit,
notwithstanding the fact that such U.S. Swing Line Loans, when aggregated with
the Pro Rata Share of the Outstanding Amount of Primary Revolving Credit Loans
and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the
amount of the U.S. Swing Line Lender’s Primary Revolving Credit Commitment;
provided that, after
giving effect to any U.S. Swing Line Loan, (i) the Revolving Credit Exposure
shall not exceed the aggregate Primary Revolving Credit Commitment and (ii) the
aggregate Outstanding Amount of the Primary Revolving Credit Loans of any Lender
(other than the U.S. Swing Line Lender), plus such Lender’s Pro Rata Share of
the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share
of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s
Primary Revolving Credit Commitment then in effect; provided further that no
Borrower shall use the proceeds of any U.S. Swing Line Loan to refinance any
outstanding Swing Line Loan.  Within the foregoing limits, and subject
to the other terms and conditions hereof, the U.S. Borrower may borrow under
this Section 2.04(a), prepay under Section 2.05, and reborrow under this Section
2.04(a).  Each U.S. Swing Line Loan shall be a Base Rate
Loan.  Immediately upon the making of a U.S. Swing Line Loan, each
Primary Revolving Credit Lender shall be deemed to, and hereby irrevocably and
unconditionally agrees to, purchase from the U.S. Swing Line Lender a risk
participation in such U.S. Swing Line Loan in an amount equal to the product of
such Lender’s Pro Rata Share multiplied by the amount of such U.S. Swing Line
Loan.

     

    
      
        
           

        

        
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    (b)           The European Swing
Line.  Subject to the terms and conditions set forth herein,
Citibank, N.A., London Branch, in its capacity as European Swing Line Lender,
agrees to make loans in an Alternative Currency to any Non-U.S. Borrower (each
such loan, a “European Swing
Line Loan”) from time to time on any Business Day (other than the
Original Closing Date) until the Maturity Date in an aggregate amount taken
together with U.S. Swing Line Loans, not to exceed at any time the amount of the
Swing Line Sublimit, notwithstanding the fact that such European Swing Line
Loans, when aggregated with the Pro Rata Share of the Outstanding Amount of
Primary Revolving Credit Loans and L/C Obligations of the European Swing Line
Lender, may exceed the amount of such Swing Line Lender’s Primary Revolving
Credit Commitment; provided that, after giving
effect to any European Swing Line Loan, the Revolving Credit Exposure of any
Lender (other than the European Swing Line Lender) shall not exceed such
Lender’s Primary Revolving Credit Commitment then in effect; provided further that no
Borrower shall use the proceeds of any European Swing Line Loan to refinance any
outstanding Swing Line Loan.  Within the foregoing limits and subject
to the other terms and conditions hereof, the Company may borrow under this
Section 2.04(b), prepay under Section 2.05, and reborrow under this Section
2.04(b).  Immediately upon the making of a European Swing Line Loan,
each Primary Revolving Credit Lender shall be deemed to, and hereby irrevocably
and unconditionally agrees to, purchase from the European Swing Line Lender a
risk participation in such European Swing Line Loan in an amount equal to the
product of such Lender’s Pro Rata Share of Primary Revolving Credit Commitments
times the amount of such European Swing Line Loan.

     

    (c)           Borrowing
Procedures.  Each Swing Line Borrowing shall be made upon the
Borrowers’ Agent’s irrevocable notice to the relevant Swing Line Lender and the
Administrative Agent, which may be given by telephone.  Each such
notice must be received by the relevant Swing Line Lender and the Administrative
Agent not later than 3:00 p.m. (New York, New York time) or, in the case of a
European Swing Line Borrowing, 2:00 p.m. (London, United Kingdom time) on the
requested borrowing date and shall specify (i) the amount to be borrowed, which
shall be a minimum of $100,000, €100,000 or £100,000, as applicable, or a whole
multiple of $100,000, €100,000 or £100,000 as applicable, in excess thereof (or
comparable amounts determined by the Administrative Agent in the case of a
European Swing Line Loan denominated in Sterling) and (ii) the requested
borrowing date, which shall be a Business Day.  Each such telephonic
notice must be confirmed promptly by delivery to the relevant Swing Line Lender
and the Administrative Agent of a written Swing Line Loan Notice, appropriately
completed and signed by a Responsible Officer of the Borrowers’
Agent.  Promptly after receipt by the relevant Swing Line Lender of
any Swing Line Loan Notice (by telephone or in writing), such 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,
such Swing Line Lender will notify the Administrative Agent (by telephone or in
writing) of the contents thereof.  Unless the relevant Swing Line
Lender has received notice (by telephone or in writing) from the Administrative
Agent (including at the request of any Appropriate Lender) prior to 2:00 p.m. on
the date of the proposed Swing Line Borrowing (A) directing such 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 2.04(b), as
applicable, or (B) that one or more of the applicable conditions specified in
Section 4.02 is not then satisfied, then, subject to the terms and conditions
hereof, the relevant Swing Line Lender will, not later than 3:00 p.m. (New York,
New York time) or, in the case of a Euro Swing Line Borrowing, 3:00 p.m.
(London, United Kingdom time) on the borrowing date specified in such Swing Line
Loan notice, make the amount of its Swing Line Loan available to the applicable
Borrower.

     

    (d)           Refinancing of Swing Line
Loans.  (i)  Each Swing Line Lender at any time in
its sole and absolute discretion may request, on behalf of any Borrower (each of
which hereby irrevocably authorizes such Swing Line Lender to so request on its
behalf), that each Appropriate Lender make a Base Rate Loan (in respect of U.S.
Swing Line Loans), a Eurocurrency Rate Loan (in respect of European Swing Line
Loans) with an Interest Period of one month, in an amount equal to such Lender’s
Pro Rata Share 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 Committed 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 or Eurocurrency Rate Loans, but subject to the unutilized portion of the
aggregate Primary Revolving Credit Commitments and the conditions set forth in
Section 4.02.  The relevant Swing Line Lender shall furnish the
applicable Borrower with a copy of the applicable Committed Loan Notice promptly
after delivering such notice to the Administrative Agent.  Each
Primary Revolving Credit Lender shall make an amount equal to its Pro Rata Share
of the amount specified in such Committed Loan Notice available to the
Administrative Agent in Same Day Funds for the account of the relevant Swing
Line Lender at the Administrative Agent’s Office not later than 1:00 p.m. on the
day specified in such Committed Loan Notice, whereupon, subject to Section
2.04(c)(ii), each Primary Revolving Credit Lender that so makes funds available
shall be deemed to have made a Base Rate Loan in U.S. Dollars or a Eurocurrency
Rate Loan in an Alternative Currency, as applicable, to the applicable
Borrower.  The Administrative Agent shall remit the funds so received
to the relevant Swing Line Lender.

     

    
      
        
           

        

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

     

    (iii)           If
any Primary Revolving Credit Lender fails to make available to the
Administrative Agent for the account of a Swing Line Lender any amount required
to be paid by such Lender pursuant to the foregoing provisions of this Section
2.04(d) by the time specified in Section 2.04(c)(d)(i), such 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 applicable
Overnight Rate from time to time in effect.  A certificate of a 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
Primary Revolving Credit Lender’s obligation to make Primary Revolving Credit
Loans or to purchase and fund risk participations in Swing Line Loans pursuant
to this Section 2.04(d) 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 a Swing
Line Lender, a 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 that each Primary
Revolving Credit Lender’s obligation to make Primary Revolving Credit Loans
pursuant to this Section 2.04(d) (but not to purchase and fund risk
participations in Swing Line Loans) is subject to the conditions set forth in
Section 4.02.  No such funding of risk participations shall relieve or
otherwise impair the obligation of the applicable Borrower to repay Swing Line
Loans, together with interest as provided herein.

     

    (e)           Repayment of
Participations.  (i)  At any time after any Primary
Revolving Credit Lender has purchased and funded a risk participation in a Swing
Line Loan, if the relevant Swing Line Lender receives any payment on account of
such Swing Line Loan, such Swing Line Lender will distribute to such Lender its
Pro Rata Share of such payment (appropriately adjusted, in the case of interest
payments, to reflect the period of time during which such Lender’s risk
participation was funded) in the same funds as those received by such Swing Line
Lender.

     

    
      
        
           

        

        
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    (ii)            If
any payment received by a Swing Line Lender in respect of principal or interest
on any Swing Line Loan is required to be returned by such Swing Line Lender
under any of the circumstances described in Section 10.06 (including pursuant to
any settlement entered into by such Swing Line Lender in its discretion), each
Appropriate Lender shall pay to such Swing Line Lender its Pro Rata Share
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 applicable Overnight Rate.  The Administrative Agent will
make such demand upon the request of a Swing Line Lender.

     

    (f)           Interest for Account of Swing Line
Lenders.  Each Swing Line Lender shall be responsible for
invoicing each Borrower for interest on its Swing Line Loans.  Until
each Appropriate Lender funds its Base Rate Loan or Eurocurrency Rate Loan or
risk participation pursuant to this Section 2.04 to refinance such Lender’s Pro
Rata Share of any Swing Line Loan, interest in respect of such Pro Rata Share
shall be solely for the account of the relevant Swing Line Lender.

     

    (g)           Payments Directly to Swing Line
Lender.  The Borrowers shall make all payments of principal and
interest in respect of the Swing Line Loans directly to the relevant Swing Line
Lender. The Swing Lender shall apply payments of principal to the Swing Line
Loans in the order which such Loans were borrowed.

     

    
      Section
2.05.         Prepayments

    

     

    (a)           Optional.  (i)  Each
Borrower may, upon notice by the Borrowers’ Agent to the Administrative Agent,
at any time or from time to time voluntarily prepay Loans in whole or in part
without premium or penalty, subject to Sections 2.05(a)(iii) and 2.05(a)(iv);
provided that (1) such
notice must be received by the Administrative Agent not later than 12:30 p.m.
(New York, New York time in the case of any Borrowings by the U.S. Borrower and
London, United Kingdom time in the case of Borrowings by any Non-U.S. Borrower)
(A) two (2) Business Days prior to any date of prepayment of Eurocurrency Rate
Loans and (B) on the date of prepayment of Base Rate Loans; (2) any prepayment
of Eurocurrency Rate Loans shall be in a minimum principal amount of $5,000,000,
€5,000,000 or £5,000,000, as applicable, or a whole multiple of $500,000,
€500,000 or £500,000, as applicable, in excess thereof; and (3) any
prepayment of Base Rate Loans shall be in a minimum principal amount of
$1,000,000 or a whole multiple of $250,000 in excess thereof or, in each case,
if less, the entire principal amount thereof then outstanding.  Each
such notice shall specify the date and amount of such prepayment and the
Class(es) and Type(s) of Loans and the order of Borrowing(s) to be
prepaid.  The Administrative Agent will promptly notify each
Appropriate Lender of its receipt of each such notice, and of the amount of such
Lender’s Pro Rata Share of such prepayment.  The applicable Borrower
shall make such prepayment and the payment amount specified in such notice shall
be due and payable on the date specified therein; provided that a notice of
prepayment of the Loans delivered by the Borrowers’ Agent may state that such
notice is conditional upon the effectiveness of another financing or a Change of
Control, and in either such case, such notice may be revoked by the Borrowers’
Agent (by written notice to the Administrative Agent a reasonable time prior to
the specified effective date) if such condition is not satisfied.  Any
prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued
interest thereon, together with any additional amounts required pursuant to
Section 3.05.  Each prepayment of principal of, and interest on,
Revolving Credit Loans shall be made in the currency in which such Revolving
Credit Loans are denominated.  Each prepayment of principal of, and
interest on, Loans denominated in Dollars shall be made in
Dollars.  Subject to Section 2.05(b)(vii) below, in the case of each
prepayment of the Loans pursuant to this Section 2.05(a), the Borrowers’ Agent
may in its sole discretion select the Borrowing or Borrowings, including the
Class (and the order of maturity of principal payments), to be repaid, and such
payment shall be paid to the Appropriate Lenders in accordance with their
respective Pro Rata Shares.

     

    
      
        
           

        

        
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    (ii)            Each
Borrower may, upon notice by the Borrowers’ Agent to the relevant 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
(1) such notice must be received by the relevant Swing Line Lender and the
Administrative Agent not later than 1:00 p.m. (London time in the case of Swing
Line Loans denominated in Alternative Currency) on the date of the prepayment,
and (2) any such prepayment shall be in a minimum principal amount of $100,000,
€100,000 or £100,000, as applicable, or a whole multiple of $100,000, €100,000
or £100,000, as applicable, 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.  The applicable Borrower shall
make such prepayment and the payment amount specified in such notice shall be
due and payable on the date specified therein.

     

    (iii)           In
the event that any Tranche B-3 Term Loans are repaid (the “Repaid Tranche B-3 Loans”) prior to
the second anniversary of the Amendment Effective Date in whole or in part, the
relevant Borrower shall pay to Lenders holding such Repaid Tranche B-3 Loans the
Applicable Premium as of the date of such prepayment; provided that prior to second
anniversary of the Amendment Effective Date, the Company may, at its option, on
one or more occasions repay up to 35% of the aggregate principal amount of the
German Tranche B-3 Euro Term Loans as of the Amendment Effective Date and up to
35% of the aggregate principal amount of the U.S. Tranche B-3 Dollar Term Loans
as of the Amendment Effective Date, subject in each case to a prepayment premium
(and in substitution for the Applicable Premium) on the principal amount of such
Tranche B-3 Term Loans being prepaid equal to the then applicable Eurocurrency
Rate for an interest period of three months plus the Applicable
Rate in effect on such date, plus accrued and
unpaid interest thereon to the date of such repayment, with the Net Proceeds of
one or more Equity Offerings; provided that (i) at least
50% of the sum of the original aggregate principal amount of the relevant
tranche of Tranche B-3 Term Loans remains outstanding immediately after the
occurrence of each such repayment and (ii) each such repayment occurs within 90
days of the date of closing of each such Equity Offering.

     

    (iv)          In
the event that, prior to the second anniversary of the Amendment Effective Date,
there shall occur any amendment, amendment and restatement or other modification
of this Agreement that reduces the Applicable Rate with respect to any Tranche
B-2 Term Loans or any prepayment or refinancing of any Tranche B-2 Term Loans in
whole or in part with proceeds of Indebtedness having lower applicable margins
or applicable total yield (after giving effect to any premiums paid on such
Indebtedness) than the Applicable Rate or applicable total yield for the
relevant Tranche B-2 Term Loans as of the Amendment Effective Date, each such
amendment, amendment and restatement, modification, prepayment or refinancing,
as the case may be, shall be accompanied by a fee or prepayment premium, as
applicable, equal to (i) 3.00% of the outstanding principal amount subject
thereto, if such amendment, amendment and restatement, modification, prepayment
or refinancing, as the case may be, occurs prior to the first anniversary of the
Amendment Effective Date and (ii) 1.50% of the outstanding principal amount
subject thereto, if such amendment, amendment and restatement, modification,
prepayment or refinancing, as the case may be, occurs on or after the first
anniversary of the Amendment Effective Date but prior to the second anniversary
of the Amendment Effective Date.  As a condition to effectiveness of
any assignment in respect of any amendment, amendment and restatement or
modification to this Agreement effective prior to the second anniversary of the
Amendment Effective Date that has the effect of reducing the Applicable Rate for
any Tranche B-2 Term Loans from the Applicable Rate in effect on the Amendment
Effective Date, the relevant Borrower shall pay to such Non-Consenting Lender of
Tranche B-2 Term Loans a premium equal to the premium that would apply if such
Non-Consenting Lender’s Tranche B-2 Term Loans being assigned were being prepaid
and subject to the premium set forth in the immediately preceding
sentence.

     

    
      
        
           

        

        
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    (b)           Mandatory.  (i)  Within
fifteen (15) Business Days after financial statements have been delivered
pursuant to Section 6.01(a) (commencing with the Fiscal Year ending
December 31, 2008) and the related Compliance Certificate has been
delivered pursuant to Section 6.02(a), the Company shall cause to be prepaid an
aggregate Dollar Amount of Term Loans equal to (A) the Applicable ECF
Percentage of Excess Cash Flow, if any, for the Fiscal Year covered by such
financial statements minus (B) the
sum of

     

    (1)           all
voluntary prepayments of Term Loans during such Fiscal Year, in each case to the
extent such prepayments are not funded with the proceeds of
Indebtedness;

     

    (2)           all
voluntary prepayments of Revolving Credit Loans, Swingline Loans and loans under
the Asset Backed Credit Facility and the Receivables Financings during such
Fiscal Year, in each case to the extent the related commitments are concurrently
and permanently reduced and in each case to the extent such prepayments are not
funded with the proceeds of Indebtedness;

     

    (3)           if
both (x) there is a decrease in Consolidated Working Capital in such Fiscal Year
and (y) the Average Brent Crude Oil Price for the last fiscal quarter of such
Fiscal Year is lower than the Average Brent Crude Oil price for the last fiscal
quarter of the previous Fiscal Year, an amount equal to the product of (I) the
amount of such decrease in Consolidated Working Capital and (II) the Applicable
ECF Percentage for such Fiscal Year; provided that the Company
shall deposit an amount equal to the amount of such decrease in Consolidated
Working Capital into the Working Capital Reserve Account and none of such
decrease in Consolidated Working Capital so deposited shall be included in the
calculation of the amount of Excess Cash Flow required to be applied pursuant to
this Section 2.05(b)(i)), unless the Average Brent Crude Oil Price over the last
fiscal quarter of the relevant Fiscal Year is between zero and 5% lower than the
Average Brent Crude Oil Price over the last fiscal quarter of the previous
Fiscal Year, in which case 50% of such decrease in Consolidated Working Capital
shall be deposited into the Working Capital Reserve Account (and, for the
avoidance of doubt, the other 50% shall continue to be included in the
calculation of Excess Cash Flow); provided that all amounts
deposited in the Working Capital Reserve Account shall only be used (x) to fund
any net increase in Consolidated Working Capital during the following Fiscal
Year; and/or (y) to prepay the Loans in accordance with Section 2.05(b)(i) as if
the amount prepaid had not been excluded from Excess Cash Flow in such relevant
Fiscal Year pursuant to this Section 2.05(b)(i), and must be so applied in full
by the end of the following Fiscal Year; and any payment out of the Working
Capital Reserve Account shall be certified at the end of the fiscal quarter
during which such payment is made by the Company Financial Officer as being made
in compliance with the terms of this Agreement; and

     

     

    (4)           if
both (x) after giving Pro Forma Effect to any prepayment made pursuant to this
Section 2.05(b)(i), the projections then most recently delivered pursuant to
6.01(c) show Liquidity at any point during the next two Fiscal Years covered by
such projections to be less than $800,000,000 ($800,000,000 less such Liquidity,
the “Liquidity
Shortfall”) and (y) the outstanding amount under the Receivables
Financing and the ABF Inventory Facility (taken as a whole) at the end of the
Fiscal Year with respect to which Excess Cash Flow is calculated is less than
such amount at the end of the previous Fiscal Year without any corresponding
permanent reduction in associated commitments (a “Temporary Paydown”), then an
amount equal to the product of (I) the lesser of the Liquidity Shortfall and the
amount of the Temporary Paydown and (II) the Applicable ECF Percentage for such
Fiscal Year (such product, the “ECF Deferral Amount”); provided that (A) the
prepayment obligation pursuant to this Section 2.05(b)(i) in the next succeeding
Fiscal Year shall be increased by the ECF Deferral Amount unless and to the
extent there is also a Liquidity Shortfall for such next succeeding Fiscal Year
and (B) no Restricted Payments pursuant to Section 7.06(n) or payments pursuant
to 7.13(a)(iv) shall be permitted until the earlier of (1) the payment of such
ECF Deferral Amount in accordance with Section 2.05(b)(i) with respect to the
next succeeding Fiscal Year or (2) deposit of an amount in cash equal to the ECF
Deferral Amount in the Working Capital Reserve Account.

     

    
      
        
           

        

        
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    (ii)            If
(A) the Company or any of its Restricted Subsidiaries Disposes of any property
or assets after the Original Closing Date (other than any Disposition of any
property or assets permitted by Section 7.05(a), (b), (c), (d), (e), (g), (h),
(i), (k) or (l)), (B) any Casualty Event occurs  after the Original
Closing Date, or (C) any Recovery Event occurs after the Original Closing Date,
in each case that results in the realization or receipt by the Company or such
Subsidiary of Net Proceeds, the Company shall cause to be prepaid an aggregate
amount of Term Loans equal to 100% of all Net Proceeds received on or prior to
the date which is ten (10) Business Days after the date of the realization or
receipt by the Company or such Restricted Subsidiary of such Net
Proceeds.

     

    (iii)           If
the Company or any of its Restricted Subsidiaries incurs or issues any
Indebtedness after the Original Closing Date (other than Indebtedness not
prohibited under Section 7.03), the Company shall cause to be prepaid an
aggregate Dollar Amount of Term Loans equal to 100% of all cash proceeds of such
Indebtedness (net of all Taxes, fees, costs and expenses which are incurred by
the Company and its Restricted Subsidiaries with respect to such incurrence or
issuance) received therefrom on or prior to the date which is ten (10) Business
Days after the receipt by such Loan Party or Restricted Subsidiary of such cash
proceeds.

     

    (iv)           If
for any reason the aggregate Primary Revolving Credit Exposures at any time
exceed the aggregate Primary Revolving Credit Commitments then in effect
(including pursuant to Section 2.15(b)), the Company shall promptly cause to be
prepaid Primary Revolving Credit Loans and/or Swing Line Loans and Cash
Collateralize the Primary L/C Obligations in an aggregate amount equal to such
excess (or the amount required pursuant to Section 2.15(b)); provided that the Company
shall not be required to Cash Collateralize the Primary L/C Obligations pursuant
to this Section 2.05(b)(iv) unless after the prepayment in full of the Primary
Revolving Credit Loans and Swing Line Loans such aggregate Outstanding Amount
exceeds the aggregate Primary Revolving Credit Commitments then in
effect.

     

    (v)            If
for any reason the aggregate Dutch Revolving Credit Exposures at any time exceed
the aggregate Dutch Revolving Credit Commitments then in effect (including
pursuant to Section 2.15(b)), the Company shall promptly cause to be prepaid
Dutch Revolving Credit Loans and Cash Collateralize the Dutch L/C Obligations in
an aggregate amount equal to such excess (or the amount required pursuant to
Section 2.15(b)); provided that the Company
shall not be required to Cash Collateralize the Dutch L/C Obligations pursuant
to this Section 2.05(b)(v) unless after the prepayment in full of the Dutch
Revolving Credit Loans such aggregate Outstanding Amount exceeds the aggregate
Primary Revolving Credit Commitments then in effect.

     

    (vi)           Each
prepayment of Term Loans pursuant to this Section 2.05(b) shall be applied,
subject to clause (vii) below, pro rata among the Tranche A Term Loans and
Tranche B Term Loans, and shall be applied among the Tranche B-1 Term Loans,
Tranche B-2 Term Loans and Tranche B-3 Term Loans as the Borrowers’ Agent shall
direct.  Each prepayment of any tranche of Term Loans pursuant to
Section 2.05(b) shall be applied within such tranche first, to accrued
interest and fees due on the amount of the prepayment under such Term Loan
Facility, and second, to the
applicable remaining Repayment Amounts due pursuant to Section 2.07 on
(x) a pro rata basis in the case of the Tranche B Term Loans or (y) in
direct order of maturity in the case of the Tranche A Term Loans, in each case
in accordance with the Appropriate Lenders’ respective Pro Rata
Shares.

     

    
      
        
           

        

        
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    (vii)          The
Borrowers’ Agent shall notify the Administrative Agent in writing of any
mandatory prepayment of Term Loans required to be made pursuant to clauses (i)
through (iii) of this Section 2.05(b) at least three (3) Business Days prior to
the date of such prepayment.  Each such notice shall specify the date
of such prepayment and provide a reasonably detailed calculation of the amount
of such prepayment.  The Administrative Agent shall promptly notify
each Appropriate Lender of the contents of the prepayment notice and of such
Appropriate Lender’s Pro Rata Share of the prepayment.  At any time
when Tranche A Term Loans are outstanding, each Tranche B Term Lender may reject
all or a portion of its Pro Rata Share of any optional or mandatory prepayment
(such declined amounts, the “Declined Proceeds”) of Tranche
B Term Loans by providing written notice (each, a “Rejection Notice”) to the
Administrative Agent and the Company no later than 5:00 p.m. one Business Day
after the date of such Tranche B Term Lender’s receipt of notice from the
Administrative Agent regarding such prepayment. Each Rejection Notice shall
specify the principal amount of the mandatory repayment of Tranche B Term Loans
to be rejected by such Lender.  If a Tranche B Term Lender fails to
deliver a Rejection Notice to the Administrative Agent within the time frame
specified above or such Rejection Notice fails to specify the principal amount
of the Tranche B Term Loans to be rejected, such Tranche B Term Lender will be
deemed to have accepted the total amount of such prepayment of Loans applicable
to it.  At any time when Tranche A Term Loans are outstanding, any
Declined Proceeds of Tranche B Term Loans shall be applied to the Repayment
Amounts, if any, with respect to the Tranche A Term Loans in accordance with
clause (vi).  After repayment in full of the Tranche A Term Loans, the
Tranche B Term Lenders may not decline any optional prepayments under Section
2.05(a) but may continue to decline mandatory prepayments under Section 2.05(b)
and, subject to any mandatory prepayment provisions under the Asset Backed
Credit Facilities or the Senior Second Lien Debt and any Permanent Financing,
any Declined Proceeds shall be retained by the Company.

     

    (viii)         In
the event any Tranche B Term Loans are prepaid pursuant to Section 2.05(b)(iii)
and the Indebtedness triggering such prepayment obligation has lower applicable
margins or applicable total yield (after giving effect to any premiums paid on
such Indebtedness), such repaid Tranche B-3 Term Loans and Tranche B-2 Term
Loans shall be subject to the same prepayment premiums as set forth in Section
2.05(a)(iii) and Section 2.05(a)(iv), respectively.

     

    (c)           Funding Losses,
Etc.  All prepayments under this Section 2.05 shall be made
together with, in the case of any such prepayment of a Eurocurrency Rate Loan on
a date other than the last day of an Interest Period therefor, any amounts owing
in respect of such Eurocurrency Rate Loan pursuant to Section
3.05.  Notwithstanding any of the other provisions of Section 2.05(b),
so long as no Event of Default shall have occurred and be continuing, if any
prepayment of Eurocurrency Rate Loans is required to be made under Section
2.05(b) other than on the last day of the Interest Period therefor, the Company
or the relevant Borrower may, in its sole discretion, deposit the amount of any
such prepayment otherwise required to be made thereunder into a Cash Collateral
Account until the last day of such Interest Period, at which time the
Administrative Agent shall be authorized (without any further action by or
notice to or from the Company or any other Loan Party) to apply such amount to
the prepayment of such Loans in accordance with Section 2.05(b).  Upon
the occurrence and during the continuance of any Event of Default, the
Administrative Agent shall also be authorized (without any further action by or
notice to or from the Company or any other Loan Party) to apply such amount to
the prepayment of the outstanding Loans in accordance with Section
2.05(b).

     

    
      
        
           

        

        
          -86-

          
            

          

        

        
           

        

      

    

     

    
      Section
2.06.            
Termination or Reduction of
Commitments

       

    

    (a)           Optional.  The
Company may, upon written notice to the Administrative Agent, terminate the
unused Revolving Credit Commitments, or from time to time permanently reduce the
unused Revolving Credit Commitments; provided that (i) any such
notice shall be received by the Administrative Agent three (3) Business Days
prior to the date of termination or reduction, (ii) any such partial reduction
shall be in a minimum aggregate amount of $1,000,000, €1,000,000 or £1,000,000,
as applicable, or any whole multiple of $250,000, €250,000, or £250,000 as
applicable, in excess thereof and (iii) if, after giving effect to any reduction
of the Revolving Credit Commitments, the applicable Letter of Credit Sublimit or
the Swing Line Sublimit exceeds the amount of such Revolving Credit Facility,
such sublimit shall be automatically reduced by the amount of such
excess.  The amount of any such Primary Revolving Credit Commitments
reduction shall not otherwise be applied to the Letter of Credit Sublimit or the
Swing Line Sublimit unless otherwise specified by the Company; provided that a notice of
termination of such Revolving Credit Commitments delivered by the Borrowers’
Agent may state that such notice is conditional upon the effectiveness of
another financing or a Change of Control, and in either such case, such notice
may be revoked by the Borrowers’ Agent (by written notice to the Administrative
Agent a reasonable time prior to the specified effective date) if such condition
is not satisfied.

     

    (b)           Mandatory.  The
U.S. Tranche A Dollar Term Commitment of each U.S. Tranche A Dollar Term Lender
shall be automatically and permanently reduced to $0 upon the making of such
U.S. Tranche A Dollar Term Lender’s U.S. Tranche A Dollar Term Loans pursuant to
Section 2.01(a).  The U.S. Tranche B Dollar Term Commitment of each
U.S. Tranche B Dollar Term Lender shall be automatically and permanently reduced
to $0 upon the making of such U.S. Tranche B Dollar Term Lender’s U.S. Tranche B
Dollar Term Loans pursuant to Section 2.01(b).  The Dutch Tranche A
Dollar Term Commitment of each Dutch Tranche A Dollar Term Lender shall be
automatically and permanently reduced to $0 upon the making of such Dutch
Tranche A Dollar Term Lender’s Dutch Tranche A Dollar Term Loans pursuant to
Section 2.01(c).  The German Tranche B Euro Term Commitment of each
German Tranche B Euro Term Lender shall be automatically and permanently reduced
to €0 upon the making of such German Tranche B Euro Term Lender’s Tranche B Term
Loans pursuant to Section 2.01(d).  The Revolving Credit Commitments
of each Revolving Credit Lender shall be automatically and permanently
terminated if at any time there are no outstanding Term Loans.

     

    (c)           Application of Commitment
Reductions; Payment of Fees.  The Administrative Agent will
promptly notify the Lenders of any termination or reduction of unused portions
of the Primary Letter of Credit Sublimit, Dutch Letter of Credit Sublimit or the
Swing Line Sublimit or the unused Commitments of any Class under this Section
2.06.  Upon any reduction of unused Revolving Credit Commitments, the
Revolving Credit Commitments of each Lender shall be reduced by such Lender’s
Pro Rata Share of the amount by which such Revolving Credit Commitments are
reduced (other than the termination of the Commitment of any Lender as provided
in Section 3.07).  All commitment fees accrued until the effective
date of any termination of the Revolving Credit Commitments shall be paid on the
effective date of such termination.

     

    Section
2.07.            
Repayment of
Loans

     

    (a)           U.S. Tranche A Dollar Term
Loans.  The U.S. Borrower shall repay to the Administrative
Agent, in Dollars, for the ratable account of the U.S. Tranche A Dollar Term
Lenders, during each annual period set forth below in quarterly installments on
the last Business Day of each March, June, September and December, commencing
with the first full quarter after the Original Closing Date, a principal amount
in respect of the U.S. Tranche A Dollar Term Loans equal to the product of
(x) the outstanding amount of the U.S. Tranche A Dollar Term Loans on such
date and (y) the percentage set forth below (each, a “U.S. Tranche A Dollar Term Loan
Repayment Amount”):

    
      
         

      

      
        -87-

        
          

        

      

      
         

      

    

     

    
      	
               

               

              Date

            	 	
              U.S.
      Tranche A Dollar

              Term
      Loan

              Repayment Amount

            
	
              March
      31, 2008

            	 	
              1.1875%

            
	
              June
      30, 2008

            	 	
              1.1875%

            
	
              September
      30, 2008

            	 	
              1.1875%

            
	
              December
      31, 2008

            	 	
              1.1875%

            
	
              March
      31, 2009

            	 	
              1.1875%

            
	
              June
      30, 2009

            	 	
              1.1875%

            
	
              September
      30, 2009

            	 	
              1.1875%

            
	
              December
      31, 2009

            	 	
              1.1875%

            
	
              March
      31, 2010

            	 	
              2.5000%

            
	
              June
      30, 2010

            	 	
              2.5000%

            
	
              September
      30, 2010

            	 	
              2.5000%

            
	
              December
      31, 2010

            	 	
              2.5000%

            
	
              March
      31, 2011

            	 	
              3.7500%

            
	
              June
      30, 2011

            	 	
              3.7500%

            
	
              September
      30, 2011

            	 	
              3.7500%

            
	
              December
      31, 2011

            	 	
              3.7500%

            
	
              March
      31, 2012

            	 	
              5.6250%

            
	
              June
      30, 2012

            	 	
              5.6250%

            
	
              September
      30, 2012

            	 	
              5.6250%

            
	
              December
      31, 2012

            	 	
              5.6250%

            
	
              March
      31, 2013

            	 	
              14.3333%

            
	
              June
      30, 2013

            	 	
              14.3333%

            
	
              September
      30, 2013

            	 	
              14.3333%

            
	
              Tranche
      A Term Loan Maturity Date

            	 	
              Remaining
      outstanding amounts

            

    

    

     

    (b)           (i)  U.S. Tranche B-1 Dollar Term
Loans.   On March 31, 2008, the U.S. Borrower repaid an
aggregate Dollar Amount equal to 0.25% of the U.S. Tranche B Dollar Term Loans
outstanding on the Original Closing Date.  The U.S. Borrower shall
repay to the Administrative Agent in Dollars for the ratable account of the U.S.
Tranche B-1 Dollar Term Lenders, (x) on the last Business Day of each March,
June, September and December, commencing with the second full quarter after the
Original Closing Date, an aggregate Dollar Amount equal to 0.25% of the
aggregate Dollar Amount of all U.S. Tranche B-1 Dollar Term Loans outstanding
hereunder on the Amendment Effective Date (which payments shall be reduced as a
result of the application of prepayments in accordance with the order of
priority set forth in Section 2.05) and (y) on the Maturity Date for the U.S.
Tranche B-1 Dollar Term Loans, the aggregate principal amount of all U.S.
Tranche B-1 Dollar Term Loans outstanding on such date (each such repayment
amount, a “U.S. Tranche B-1
Dollar Term Loan Repayment Amount”).

     

    (ii)            U.S. Tranche B-2 Dollar Term
Loans.  On March 31, 2008, the U.S. Borrower repaid an
aggregate Dollar Amount equal to 0.25% of the U.S. Tranche B Dollar Term Loans
outstanding on the Original Closing Date. The U.S. Borrower shall repay to the
Administrative Agent in Dollars for the ratable account of the U.S. Tranche B-2
Dollar Term Lenders, (x) on the last Business Day of each March, June, September
and December, commencing with the second full quarter after the Original Closing
Date, an aggregate Dollar Amount equal to 0.25% of the aggregate Dollar Amount
of all U.S. Tranche B-2 Dollar Term Loans outstanding on the Amendment Effective
Date (which payments shall be reduced as a result of the application of
prepayments in accordance with the order of priority set forth in Section 2.05)
and (y) on the Maturity Date for the U.S. Tranche B-2 Dollar Term Loans, the
aggregate principal amount of all U.S. Tranche B-2 Dollar Term Loans outstanding
on such date (each such repayment amount, a “U.S. Tranche B-2 Dollar Term Loan
Repayment Amount”).

     

    
      
        
           

        

        
          -88-

          
            

          

        

        
           

        

      

    

     

    (iii)          U.S. Tranche B-3 Dollar Term
Loans.  On March 31, 2008, the U.S. Borrower repaid an
aggregate Dollar Amount equal to 0.25% of the U.S. Tranche B Dollar Term Loans
outstanding on the Original Closing Date.  The U.S. Borrower shall
repay to the Administrative Agent in Dollars for the ratable account of the U.S.
Tranche B-3 Dollar Term Lenders, (x) on the last Business Day of each March,
June, September and December, commencing with the second full quarter after the
Original Closing Date, an aggregate Dollar Amount equal to 0.25% of the
aggregate Dollar Amount of all U.S. Tranche B-3 Dollar Term Loans outstanding on
the Amendment Effective Date (which payments shall be reduced as a result of the
application of prepayments in accordance with the order of priority set forth in
Section 2.05) and (y) on the Maturity Date for the U.S. Tranche B-3 Dollar Term
Loans, the aggregate principal amount of all U.S. Tranche B-3 Dollar Term Loans
outstanding on such date (each such repayment amount, a “U.S. Tranche B-3 Dollar Term Loan
Repayment Amount”).

     

    (c)           Dutch Tranche A Dollar Term
Loans.  Basell Holdings shall repay to the Administrative
Agent, in Dollars, for the ratable account of the Dutch Tranche A Dollar Term
Lenders, during each annual period set forth below in quarterly installments on
the last Business Day of each March, June, September and December, commencing
with the first full quarter after the Original Closing Date, a principal amount
in respect of the Dutch Tranche A Dollar Term Loans equal to the product of
(x) the outstanding principal amount of the Dutch Tranche A Dollar Term
Loans on such date and (y) the percentage set forth below (each, a “Dutch Tranche A Dollar Term Loan Repayment
Amount”):

     

    
      	
               

               

              Date

            	 	
              Dutch
      Tranche A Dollar

              Term
      Loan

              Repayment Amount

            
	
              March
      31, 2008

            	 	
              1.1875%

            
	
              June
      30, 2008

            	 	
              1.1875%

            
	
              September
      30, 2008

            	 	
              1.1875%

            
	
              December
      31, 2008

            	 	
              1.1875%

            
	
              March
      31, 2009

            	 	
              1.1875%

            
	
              June
      30, 2009

            	 	
              1.1875%

            
	
              September
      30, 2009

            	 	
              1.1875%

            
	
              December
      31, 2009

            	 	
              1.1875%

            
	
              March
      31, 2010

            	 	
              2.5000%

            
	
              June
      30, 2010

            	 	
              2.5000%

            
	
              September
      30, 2010

            	 	
              2.5000%

            
	
              December
      31, 2010

            	 	
              2.5000%

            
	
              March
      31, 2011

            	 	
              3.7500%

            
	
              June
      30, 2011

            	 	
              3.7500%

            
	
              September
      30, 2011

            	 	
              3.7500%

            
	
              December
      31, 2011

            	 	
              3.7500%

            
	
              March
      31, 2012

            	 	
              5.6250%

            
	
              June
      30, 2012

            	 	
              5.6250%

            
	
              September
      30, 2012

            	 	
              5.6250%

            
	
              December
      31, 2012

            	 	
              5.6250%

            
	
              March
      31, 2013

            	 	
              14.3333%

            
	
              June
      30, 2013

            	 	
              14.3333%

            
	
              September
      30, 2013

            	 	
              14.3333%

            
	
              Tranche
      A Term Loan Maturity Date

            	 	
              Remaining
      outstanding amounts

            

    

    

      
        
           

        

        
          -89-

          
            

          

        

        
           

        

      

    

     

    (d)           (i)  German Tranche B-1 Euro Term
Loans.  On March 31, 2008, the German Borrower repaid an
aggregate amount equal to 0.25% of the German Tranche B Dollar Term Loans
outstanding on the Original Closing Date.  The German Borrower shall
repay to the Administrative Agent in Euros for the ratable account of the German
Tranche B-1 Euro Term Lenders (i) on the last Business Day of each March, June,
September and December, commencing with the second full quarter after the
Original Closing Date, an aggregate amount equal to 0.25% of the aggregate
amount of all German Tranche B-1 Euro Term Loans outstanding on the Amendment
Effective Date (which payments shall be reduced as a result of the application
of prepayments in accordance with the order of priority set forth in Section
2.05) and (ii) on the Maturity Date for the German Tranche B-1 Euro Term Loans,
the aggregate principal amount of all German Tranche B-1 Euro Term Loans
outstanding on such date (each such repayment amount, a “German Tranche B-1 Euro Term Loan
Repayment Amount”).

     

    (ii)                  German Tranche B-2 Euro Term
Loans.  On March 31, 2008, the German Borrower repaid an
aggregate amount equal to 0.25% of the German Tranche B Dollar Term Loans
outstanding on the Original Closing Date.  The German Borrower shall
repay to the Administrative Agent in Euros for the ratable account of the German
Tranche B-2 Euro Term Lenders (i) on the last Business Day of each March, June,
September and December, commencing with the second full quarter after the
Original Closing Date, an aggregate amount equal to 0.25% of the aggregate
amount of all German Tranche B-2 Euro Term Loans outstanding on the Amendment
Effective Date (which payments shall be reduced as a result of the application
of prepayments in accordance with the order of priority set forth in Section
2.05) and (ii) on the Maturity Date for the German Tranche B-2 Euro Term Loans,
the aggregate principal amount of all German Tranche B-2 Euro Term Loans
outstanding on such date (each such repayment amount, a “German Tranche B-2 Euro Term Loan
Repayment Amount”).

     

    (iii)                  German Tranche B-3 Euro Term
Loans.  On March 31, 2008 the German Borrower repaid an
aggregate amount equal to 0.25% of the German Tranche B Dollar Term Loans
outstanding on the Original Closing Date.  The German Borrower shall
repay to the Administrative Agent in Euros for the ratable account of the German
Tranche B-3 Euro Term Lenders (i) on the last Business Day of each March, June,
September and December, commencing with the second full quarter after the
Original Closing Date, an aggregate amount equal to 0.25% of the aggregate
amount of all German Tranche B-3 Euro Term Loans outstanding on the Amendment
Effective Date (which payments shall be reduced as a result of the application
of prepayments in accordance with the order of priority set forth in Section
2.05) and (ii) on the Maturity Date for the German Tranche B-3 Euro Term Loans,
the aggregate principal amount of all German Tranche B-3 Euro Term Loans
outstanding on such date (each such repayment amount, a “German Tranche B-3 Euro Term Loan
Repayment Amount”).

     

    (e)           Revolving Credit
Loans.  Each Borrower shall repay to the Administrative Agent
for the ratable account of the Appropriate Lenders on the Maturity Date for the
Revolving Credit Facility the aggregate principal amount of all of such
Borrower’s Revolving Credit Loans under such Facility outstanding on such
date.

     

    
      
        
           

        

        
          -90-

          
            

          

        

        
           

        

      

    

     

    (f)           Swing Line
Loans.  Each Borrower shall repay the aggregate principal
amount of its Swing Line Loans on the earlier to occur of (i) the date five (5)
Business Days after such Loan is made and (ii) the Maturity Date for the Primary
Revolving Credit Facility.

     

    
      Section
2.08.        Interest.

    

     

    (a)           Subject
to the provisions of Section 2.08(b), (i) each Eurocurrency Rate Loan (other
than a European Swing Line Loan) shall bear interest on the outstanding
principal amount or face amount thereof for each Interest Period at a rate per
annum equal to the Eurocurrency Rate for such Interest Period plus the
Applicable Rate plus (in the case of a Eurocurrency Rate Loan of any Lender
which is lent from a Lending Office in the United Kingdom or a Participating
Member State) the Mandatory Cost; (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; (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 for Revolving Credit Loans and
(v) each European 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 Eurocurrency Rate plus the Applicable Rate for Eurocurrency Rate
Loans.

     

    (b)           During
the continuance of a Default pursuant to Section 8.01(a), the applicable
Borrower shall pay interest on amounts due hereunder at a fluctuating interest
rate per annum at all times equal to the Default Rate to the fullest extent
permitted by applicable Law.  Accrued and unpaid interest on such
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.

     

    
      Section
2.09.        Fees

    

     

    In
addition to certain fees described in Sections 2.03(h) and (i):

     

    (a)          Commitment Fee.  On
the fifth Business Day after commitment fees are calculated in accordance with
the next succeeding sentence, the U.S. Borrower and Basell Finance shall pay in
Dollars to the Administrative Agent for the account of each (1) Primary
Revolving Credit Lender in accordance with its Pro Rata Share a commitment fee
equal to the Applicable Rate with respect to Primary Revolving Credit Loans
times the actual daily amount by which the aggregate Primary Revolving Credit
Commitment exceeds the sum of (A) the Outstanding Amount of Primary Revolving
Credit Loans under such Facility and (B) the Outstanding Amount of Primary L/C
Obligations; provided
that any commitment fee accrued with respect to any of the Commitments of a
Defaulting Lender (other than a Lender deemed a Defaulting Lender solely under
clause (c) of the definition thereof) during the period prior to the time such
Lender became a Defaulting Lender and unpaid at such time shall not be payable
so long as such Lender shall be a Defaulting Lender except to the extent that
such commitment fee shall otherwise have been due and payable prior to such
time; and provided
further that no commitment fee shall accrue on any of the Commitments of
a Defaulting Lender (other than a Lender deemed a Defaulting Lender solely under
clause (c) of the definition thereof) so long as such Lender shall be a
Defaulting Lender and (2) Dutch Revolving Credit Lender in accordance with its
Pro Rata Share a commitment fee equal to the Applicable Rate with respect to
Dutch Revolving Credit Loans times the actual daily amount by which the
aggregate Dutch Revolving Credit Commitment exceeds the sum of (A) the
Outstanding Amount of Dutch Revolving Credit Loans under such Facility and (B)
the Outstanding Amount of Dutch L/C Obligations; provided that any commitment
fee accrued with respect to any of the Commitments of a Defaulting Lender (other
than a Lender deemed a Defaulting Lender solely under clause (c) of the
definition thereof) during the period prior to the time such Lender became a
Defaulting Lender and unpaid at such time shall not be payable so long as such
Lender shall be a Defaulting Lender except to the extent that such commitment
fee shall otherwise have been due and payable prior to such time; and provided further that no
commitment fee shall accrue on any of the Commitments of a Defaulting Lender
(other than a Lender deemed a Defaulting Lender solely under clause (c) of the
definition thereof) so long as such Lender shall be a Defaulting
Lender.  The commitment fee shall accrue at all times from the
Original Closing Date until the Maturity Date for the Revolving Credit Facility,
including at any time during which one or more of the conditions in Article IV
is not met, and shall be calculated 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 Original Closing Date, and on the Maturity Date for the
Revolving Credit Facility.  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.

     

    
      
        
           

        

        
          -91-

          
            

          

        

        
           

        

      

    

     

    (b)         Other Fees.  The
Company shall pay in Dollars to the Agents such fees as shall have been
separately agreed upon in writing in the amounts and at the times so
specified.  Such fees shall be fully earned when paid and shall not be
refundable for any reason whatsoever (except as expressly agreed between the
Company and the applicable Agent).

     

    
      Section
2.10.       Computation of Interest and
Fees

    

     

    All
computations of interest for Base Rate Loans when the Base Rate is determined by
Citibank, N.A.’s “prime rate” shall be made on the basis of a year of three
hundred and sixty-five (365) days, or three hundred and sixty-six (366) days, as
applicable, and actual days elapsed.  All other computations of fees
and interest shall be made on the basis of a three hundred and sixty (360) day
year and actual days elapsed.  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 (1) 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.

     

    Section
2.11.        Evidence of
Indebtedness

     

    (a)           The
Credit Extensions made by each Lender shall be evidenced by one or more accounts
or records maintained by such Lender and evidenced by one or more entries in the
Register maintained by the Administrative Agent, acting solely for purposes of
Treasury Regulation Section 5f.103-1(c), as agent for the Borrowers, in each
case in the ordinary course of business.  The accounts or records
maintained by the Administrative Agent and each Lender shall be prima facie evidence absent
manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrowers 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 Borrowers 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 upon reasonable notice, the relevant Borrowers shall execute and deliver
to such Lender (through the Administrative Agent) a Note payable to such Lender,
which shall evidence such Lender’s Loans in addition to such accounts or
records.  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.

     

    
      
        
           

        

        
          -92-

          
            

          

        

        
           

        

      

    

     

    (b)           In
addition to the accounts and records referred to in Section 2.11(a), each Lender
and the Administrative Agent shall maintain in accordance with its usual
practice accounts or records and, in the case of the Administrative Agent,
entries in the Register, 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.

     

    (c)           Entries
made in good faith by the Administrative Agent in the Register pursuant to
Sections 2.11(a) and (b), and by each Lender in its account or accounts pursuant
to Sections 2.11(a) and (b), shall be prima facie evidence of the amount
of principal and interest due and payable or to become due and payable from the
Borrowers to, in the case of the Register, each Lender and, in the case of such
account or accounts, such Lender, under this Agreement and the other Loan
Documents, absent manifest error; provided that the failure of
the Administrative Agent or such Lender to make an entry, or any finding that an
entry is incorrect, in the Register or such account or accounts shall not limit
or otherwise affect the obligations of the Borrowers under this Agreement and
the other Loan Documents.

     

    
      Section
2.12.        Payments
Generally

    

     

    (a)           All
payments to be made by the Borrowers shall be made without condition or
deduction for any counterclaim, defense, recoupment or setoff.  Except
as otherwise expressly provided herein and except with respect to principal of
and interest on Loans denominated in an Alternative Currency, all payments by
the Borrowers hereunder shall be made to the Administrative Agent, for the
account of the respective Lenders to which such payment is owed, at the
applicable Administrative Agent’s Office in Dollars and in Same Day Funds not
later than 2:00 p.m. (New York, New York time in the case of any Borrowing by
the U.S. Borrower and London, United Kingdom time in the case of any Borrowing
by any Non-U.S. Borrower) on the date specified herein.  Except as
otherwise expressly provided herein, all payments by the Borrowers hereunder
with respect to principal and interest on Loans denominated in an Alternative
Currency 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 such Alternative Currency and in Same Day Funds not later than 2:00
p.m. (London, United Kingdom time) on the dates specified herein.  If,
for any reason, the applicable Borrower is prohibited by any Law from making any
required payment hereunder in an Alternative Currency, such Borrower shall make
such payment in Dollars in the Dollar Amount of the Alternative Currency payment
amount.  The Administrative Agent will promptly distribute to each
Lender its Pro Rata Share (or other applicable share as provided herein) of such
payment in like funds as received by wire transfer to such Lender’s applicable
Lending Office.  All payments received by the Administrative Agent (i)
after 2:00 p.m., in the case of payments in Dollars, or (ii) after 2:00 p.m.
(London time) in the case of payments in an Alternative Currency, shall in each
case be deemed received on the next succeeding Business Day and any applicable
interest or fee shall continue to accrue.

     

    (b)           If
any payment to be made by a Borrower shall come due on a day other than a
Business Day, payment shall be made on the immediately succeeding Business Day,
and such extension of time shall be reflected in computing interest or fees, as
the case may be; provided that, if such
extension would cause payment of interest on or principal of Eurocurrency Rate
Loans to be made in the next succeeding calendar month, such payment shall be
made on the immediately preceding Business Day.

     

    
      
        
           

        

        
          -93-

          
            

          

        

        
           

        

      

    

     

    (c)           Unless
a Borrower or any Lender has notified the Administrative Agent, prior to the
time any payment is required to be made by it to the Administrative Agent
hereunder, that such Borrower or such Lender, as the case may be, will not make
such payment, the Administrative Agent may assume that such Borrower or such
Lender, as the case may be, has timely made such payment and may (but shall not
be so required to), in reliance thereon, make available a corresponding amount
to the Person entitled thereto.  If and to the extent that such
payment was not in fact made to the Administrative Agent in Same Day Funds,
then:

     

    (i)       if
the applicable Borrower failed to make such payment, each Lender shall forthwith
on demand repay to the Administrative Agent the portion of such assumed payment
that was made available to such Lender in Same Day Funds, together with interest
thereon in respect of each day from and including the date such amount was made
available by the Administrative Agent to such Lender to the date such amount is
repaid to the Administrative Agent in Same Day Funds at the applicable Overnight
Rate from time to time in effect; and

     

    (ii)                  if
any Lender failed to make such payment, such Lender shall forthwith on demand
pay to the Administrative Agent the amount thereof in Same Day Funds, together
with interest thereon for the period from the date such amount was made
available by the Administrative Agent to such Borrower to the date such amount
is recovered by the Administrative Agent (the “Compensation Period”) at a
rate per annum equal to the applicable Overnight Rate from time to time in
effect.  When such Lender makes payment to the Administrative Agent
(together with all accrued interest thereon), then such payment amount
(excluding the amount of any interest which may have accrued and been paid in
respect of such late payment) shall constitute such Lender’s Loan included in
the applicable Borrowing.  If such Lender does not pay such amount
forthwith upon the Administrative Agent’s demand therefor, the Administrative
Agent may make a demand therefor upon such Borrower, and such Borrower shall pay
such amount to the Administrative Agent, together with interest thereon for the
Compensation Period at a rate per annum equal to the rate of interest applicable
to the applicable Borrowing.  Nothing herein shall be deemed to
relieve any Lender from its obligation to fulfill its Commitment or to prejudice
any rights which the Administrative Agent or such Borrower may have against any
Lender as a result of any default by such Lender hereunder.

     

    A notice
of the Administrative Agent to any Lender or the Borrowers’ Agent with respect
to any amount owing under this Section 2.12(c) shall be conclusive, absent
manifest error.

     

    (d)           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 applicable Borrower by the
Administrative Agent because the conditions to the applicable Credit Extension
set forth in Article IV 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.

     

    (e)           The
obligations of the Lenders hereunder to make Loans and to fund participations in
Letters of Credit and Swing Line Loans are several and not joint.  The
failure of any Lender to make any Loan or to fund any such participation 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 or purchase its
participation.

     

    (f)           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.

     

    
      
        
           

        

        
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    (g)           Whenever
any payment received by the Administrative Agent under this Agreement or any of
the other Loan Documents is insufficient to pay in full all amounts due and
payable to the Administrative Agent and the Lenders under or in respect of this
Agreement and the other Loan Documents on any date, such payment shall be
distributed by the Administrative Agent and applied by the Administrative Agent
and the Lenders in the order of priority set forth in Section
8.03.  If the Administrative Agent receives funds for application to
the Obligations of the Loan Parties under or in respect of the Loan Documents
under circumstances for which the Loan Documents do not specify the manner in
which such funds are to be applied, the Administrative Agent may (to the fullest
extent permitted by mandatory provisions of applicable Law), but shall not be
obligated to, elect to distribute such funds to each of the Lenders in
accordance with such Lender’s Pro Rata Share of the sum of (a) the Outstanding
Amount of all Loans outstanding at such time and (b) the Outstanding Amount of
all L/C Obligations outstanding at such time, in repayment or prepayment of such
of the outstanding Loans or other Obligations then owing to such
Lender.

     

    
      Section
2.13.       Sharing of
Payments

    

     

    If, other
than as expressly provided elsewhere herein, any Lender shall obtain on account
of the Loans made by it, or the participations in L/C Obligations and Swing Line
Loans held by it, any payment (whether voluntary, involuntary, through the
exercise of any right of setoff or otherwise) in excess of its ratable share (or
other share contemplated hereunder) thereof, such Lender shall immediately (a)
notify the Administrative Agent of such fact, and (b) purchase from the other
Lenders such participations in the Loans made by them and/or such
subparticipations in the participations in L/C Obligations or Swing Line Loans
held by them, as the case may be, as shall be necessary to cause such purchasing
Lender to share the excess payment in respect of such Loans or such
participations, as the case may be, pro rata with each of them; provided that if all or any
portion of such excess payment is thereafter recovered from the purchasing
Lender under any of the circumstances described in Section 10.06 (including
pursuant to any settlement entered into by the purchasing Lender in its
discretion), such purchase shall to that extent be rescinded and each other
Lender shall repay to the purchasing Lender the purchase price paid therefor,
together with an amount equal to such paying Lender’s ratable share (according
to the proportion of (i) the amount of such paying Lender’s required repayment
to (ii) the total amount so recovered from the purchasing Lender) of any
interest or other amount paid or payable by the purchasing Lender in respect of
the total amount so recovered, without further interest thereon.  Each
Borrower agrees that any Lender so purchasing a participation from another
Lender may, to the fullest extent permitted by applicable Law, exercise all its
rights of payment (including the right of setoff, but subject to Section 10.09)
with respect to such participation as fully as if such Lender were the direct
creditor of such Borrower in the amount of such participation.  The
Administrative Agent will keep records (which shall be conclusive and binding in
the absence of manifest error) of participations purchased under this Section
2.13 and will in each case notify the Lenders following any such purchases or
repayments.  Each Lender that purchases a participation pursuant to
this Section 2.13 shall from and after such purchase have the right to give all
notices, requests, demands, directions and other communications under this
Agreement with respect to the portion of the Obligations purchased to the same
extent as though the purchasing Lender were the original owner of the
Obligations purchased.

     

    
      Section
2.14.        Incremental Credit
Extensions

    

     

    (a)           The
Borrowers’ Agent may at any time or from time to time after the Original Closing
Date, by notice to the Administrative Agent (whereupon the Administrative Agent
shall promptly deliver a copy to each of the Lenders), request (a) one or more
additional tranches of term loans (the “Incremental Term Loans”) or
(b) one or more increases in the amount of the Revolving Credit Commitments
(each such increase, a “Revolving Commitment
Increase”); provided that (i) upon
the effectiveness of any Incremental Amendment referred to below, the conditions
precedent to such Credit Extension set forth in Section 4.02 shall have been
satisfied and (ii) the First Lien Senior Secured Leverage Ratio shall be less
than 2.75:1.00 determined on a Pro Forma Basis for the incurrence of the
Incremental Term Loan or Revolving Commitment Increase.

     

    
      
        
           

        

        
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    (b)           Each
tranche of Incremental Term Loans and each Revolving Commitment Increase shall
be in an aggregate principal Dollar Amount of not less than $50,000,000, in the
case of any Revolving Commitment Increase, and $100,000,000 in the case of
Incremental Term Loans (provided that such amount may
be less if such amount represents all remaining availability under the limit set
forth in the next sentence).  Notwithstanding anything to the contrary
herein, the aggregate Dollar Amount of all Incremental Term Loans and the
Revolving Commitment Increases shall not exceed $750,000,000.  The
Incremental Term Loans may be in Dollars or Euro.  The Incremental
Term Loans and any Revolving Commitment Increase (i) shall rank pari passu
in right of payment and have the equal benefit of guarantees and security with
the Loans, (ii) with respect to the Incremental Term Loans only, increases
shall not have a final maturity date earlier than the Maturity Date for the
Tranche B Term Loans (except that up to $250,000,000 of Incremental Term
Loans (the “Tranche A
Incremental Term Loans”) may have an earlier final maturity date so long
as such date is not earlier than the final maturity for the Tranche A Term
Loans) and (iii) with respect to the Incremental Term Loans only, except as
set forth in clauses (A) and (B) of the proviso hereto, shall be treated
substantially the same as the Tranche A Term Loans, in the case of Tranche A
Incremental Term Loans, or Tranche B Term Loans, in the case of Incremental
Tranche B Term Loans (as defined below), (in each case, including with respect
to mandatory and voluntary prepayments); provided that (A) except as
provided herein, the terms and conditions applicable to Incremental Term Loans
may be materially different from those of the Term Loans to the extent such
differences are reasonably acceptable to the Administrative Agent and (B) the
amortization schedule applicable to the Incremental Term Loans shall be
determined by the Borrowers’ Agent and the lenders thereof, in each case so long
as the Weighted Average Life to Maturity for any Incremental Term Loans shall
not be shorter than the then remaining Weighted Average Life to Maturity of the
Tranche A Term Loans, in the case of Tranche A Incremental Term Loans, or
Tranche B Term Loans, in the case of Incremental Tranche B Term
Loans.  Each notice from the Borrowers’ Agent pursuant to this Section
2.14 shall set forth the requested amount and proposed terms of the relevant
Incremental Term Loans or the requested amount of the Revolving Commitment
Increase.  Incremental Term Loans other than Tranche A Incremental
Term Loans are known as “Tranche B Incremental Term
Loans.”

     

    (c)           Incremental
Term Loans may be made, and Revolving Commitment Increases may be provided, by
any existing Lender (and each existing Term Lender shall have the right, but not
an obligation, to make a portion of any Incremental Term Loan, and each existing
Revolving Credit Lender shall have the right, but not the obligation, to provide
a portion of any Revolving Commitment Increase, in each case on terms permitted
in this Section 2.14 and otherwise on terms reasonably acceptable to the
Administrative Agent) or by any other bank or other financial institution (any
such other bank or other financial institution, an “Additional Lender”); provided that the
Administrative Agent shall have consented (not to be unreasonably withheld) to
such Lender’s or Additional Lender’s making such Incremental Term Loans or
providing such Revolving Commitment Increases if such consent would be required
under Section 10.07(b) for an assignment of Loans or Revolving Credit
Commitments, as applicable, to such Lender or Additional Lender.

     

    (d)           Commitments
in respect of Incremental Term Loans and Revolving Commitment Increases shall
become Commitments (or in the case of a Revolving Commitment Increase to be
provided by an existing Revolving Credit Lender, an increase in such Lender’s
applicable Revolving Credit Commitment) under this Agreement pursuant to an
amendment (an “Incremental
Amendment”) to this Agreement and, as appropriate, the other Loan
Documents, executed by the applicable Borrower, each Lender agreeing to provide
such Commitment, if any, each Additional Lender, if any, and the Administrative
Agent. The Incremental Amendment may, without the consent of any other Agents or
Lenders, effect such amendments to this Agreement and the other Loan Documents
as may be necessary or appropriate, in the reasonable opinion of the
Administrative Agent and the applicable Borrowers’ Agent, to effect the
provisions of this Section 2.14.  The effectiveness of any Incremental
Amendment shall be subject to the satisfaction on the date thereof (each, an
“Incremental Facility Closing
Date”) of each of the conditions set forth in Section 4.02 (it being
understood that all references to “the date of such Credit Extension” or similar
language in such Section 4.02 shall be deemed to refer to the effective date of
such Incremental Amendment) and such other conditions as the parties thereto
shall agree.  The Borrowers shall use the proceeds of the Incremental
Term Loans and Revolving Commitment Increases for any purpose not prohibited by
this Agreement.

     

    
      
        
           

        

        
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    (e)           Upon
any Revolving Commitment Increase (i)  if the increase relates to the
Primary Revolving Credit Facility, each Primary Revolving Credit Lender
immediately prior to such increase will automatically and without further act be
deemed to have assigned to each Lender providing a portion of the Revolving
Commitment Increase (each, a “Revolving Commitment Increase
Lender”), and each such Revolving Commitment Increase Lender will
automatically and without further act be deemed to have assumed (in the case of
an increase to the Primary Revolving Credit Facility only), a portion of such
Revolving Credit Lender’s participations hereunder in outstanding Letters of
Credit and Swing Line Loans such that, after giving effect to each such deemed
assignment and assumption of participations, the percentage of the aggregate
outstanding (A) participations hereunder in Letters of Credit and (B)
participations hereunder in Swing Line Loans held by each Primary Revolving
Credit Lender (including each such Revolving Commitment Increase Lender) will
equal the percentage of the aggregate Primary Revolving Credit Commitments of
all Primary Revolving Credit Lenders represented by such Primary Revolving
Credit Lender’s Primary Revolving Credit Commitment and (ii) if, on the date of
such increase, there are any Revolving Credit Loans outstanding, such Revolving
Credit Loans shall on or prior to the effectiveness of such Revolving Commitment
Increase be prepaid from the proceeds of additional Revolving Credit Loans made
hereunder (reflecting such increase in Revolving Credit Commitments), which
prepayment shall be accompanied by accrued interest on the Revolving Credit
Loans being prepaid and any costs incurred by any Lender in accordance with
Section 3.05.  The Administrative Agent and the Lenders hereby agree
that the minimum borrowing, pro rata borrowing and pro rata payment requirements
contained elsewhere in this Agreement shall not apply to the transactions
effected pursuant to the immediately preceding sentence.

     

    (f)           This
Section 2.14 shall supersede any provisions in Section 2.13 or 10.01 to the
contrary.

     

    
      Section
2.15.       Currency
Equivalents

    

     

    (a)           The
Administrative Agent shall determine the Dollar Amount of each Loan denominated
in an Alternative Currency and L/C Obligation in respect of Letters of Credit
denominated in an Alternative Currency (i) in the case of any Revolving Credit
Facility or Term Loan, as of the date of incurrence of such Term Loan, (ii) in
the case of any Swing Line Loan denominated in Alternative Currency, as of the
date of incurrence of such Swing Line Loan, and (iii) otherwise, (A) as of the
first day of each Interest Period applicable thereto and (B) as of the end of
each fiscal quarter of the Company and shall promptly notify the Borrowers’
Agent and the Lenders of each Dollar Amount so determined by it.  Each
such determination shall be based on the Exchange Rate (x) on the date of the
related Committed Loan Notice for purposes of the initial such determination for
any Loan denominated in Alternative Currency and (y) on the fourth Business
Day prior to the date as of which such Dollar Amount is to be determined, for
purposes of any subsequent determination.

     

    
      
        
           

        

        
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    (b)           If
after giving effect to any such determination of a Dollar Amount, the aggregate
Outstanding Amount of the Revolving Credit Loans of any Facility and, in the
case of the Primary Revolving Credit Facility, the Swing Line Loans and the L/C
Obligations exceeds the aggregate Revolving Credit Commitments under such
Facility then in effect by 5% or more, one or more of the applicable Borrowers
shall, within five (5) Business Days of receipt of notice thereof from the
Administrative Agent setting forth such calculation in reasonable detail, prepay
or cause to be prepaid outstanding Revolving Credit Loans under such Facility
and/or Swing Line Loans (in the case of the Primary Revolving Credit Facility)
(as selected by the Borrowers’ Agent and notified to the Lenders through the
Administrative Agent not less than three (3) Business Days prior to the date of
prepayment) or take other action (including, in the applicable Borrowers’
discretion, cash collateralization of L/C Obligations in amounts from time to
time equal to such excess) to the extent necessary to eliminate any such
excess.

     

    ARTICLE
III.

     

    Taxes, Increased Costs
Protection and Illegality

     

    
      Section
3.01.       Taxes

    

     

    (a)           Except
as required by law, any and all payments by the Loan Parties to or for the
account of any Agent or any Lender (which, for purposes of this Section 3.01,
shall include any L/C Issuer and the Swing Line Lender) under any Loan Document
shall be made free and clear of and without deduction for any
Taxes.  If any Loan Party or other applicable withholding agent shall
be required by any Laws to withhold or deduct any Indemnified Taxes or Other
Taxes from or in respect of any sum payable under any Loan Document to or for
the account of any Agent or any Lender, (i) the sum payable by the applicable
Loan Party shall be increased as necessary so that after making all required
withholdings or deductions of Indemnified Taxes or Other Taxes (including
withholdings or deductions applicable to additional sums payable under this
Section 3.01), each Lender receives an amount equal to the sum it would have
received had no such withholdings or deductions of Indemnified Taxes or Other
Taxes been made, (ii) such Loan Party or other applicable withholding agent (as
applicable) shall make such withholdings or deductions, (iii) such Loan Party or
other applicable withholding agent (as applicable) shall pay the full amount
withheld or deducted to the relevant taxation authority or other authority in
accordance with applicable Law, and (iv) within thirty (30) days after the date
of such payment (or, if receipts or evidence are not available within thirty
(30) days, as soon as possible thereafter), if a Loan Party made the withholding
or deduction, such Loan Party shall furnish to the Administrative Agent or
affected Lender (as the case may be) the original or a copy of a receipt
evidencing payment thereof or other evidence reasonably acceptable to such Agent
or Lender.

     

    (b)           The
Loan Parties agree to pay any and all present or future stamp, court or
documentary taxes and any other excise, property, intangible, mortgage recording
or similar taxes or charges or levies which arise from any payment made under
any Loan Document or from the execution, delivery, performance, enforcement or
registration of, or otherwise with respect to, any Loan Document (hereinafter
referred to as “Other
Taxes”) except for any such tax resulting from an assignment or
participation by a Lender or Participant (“Assignment Tax”), but only if
such Assignment Taxes result from a connection between the jurisdiction imposing
such tax and such Lender or Participant other than any connections arising
solely from such Lender or Participant having executed, delivered, been a party
to, received or perfected a security interest under or performed its obligations
under, received payment under or enforced, this Agreement or any other Loan
Document.

     

    (c)           Each
Loan Party jointly and severally agrees to indemnify and hold harmless each
Agent and each Lender for (i) the full amount of Indemnified Taxes and Other
Taxes payable by such Agent or such Lender (including Indemnified Taxes or Other
Taxes imposed directly on the Agent or Lender) whether or not such Indemnified
Taxes or Other Taxes were correctly or legally imposed or asserted by the
relevant taxing authority and (ii) any expenses (excluding any Excluded Taxes)
arising therefrom or with respect thereto.  A certificate as to the
amount of such payment or liability, along with a reasonably detailed
description of such payment or liability, delivered to the applicable Loan Party
shall be conclusive absent manifest error.

     

    
      
        
           

        

        
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    (d)           Each
Foreign Lender with respect to a Loan to a U.S. Borrower shall, to the extent it
is legally entitled to do so, (v) on or prior to the Original Closing Date in
the case of each Foreign Lender that is a signatory hereto, (w) on or prior to
the date of the Assignment and Assumption pursuant to which such Foreign Lender
becomes a Lender, (x) on or prior to the date on which any such form or
certification expires or becomes obsolete or incorrect, (y) after the occurrence
of any event involving such Foreign Lender that requires a change in the most
recent form or certification previously delivered by it to the U.S. Borrower and
the Administrative Agent, and (z) from time to time if reasonably requested by
the U.S. Borrower or the Administrative Agent, provide the Administrative Agent
and the U.S. Borrower with two completed originals of each of the following, as
applicable:

     

    (i)       IRS
Form W-8ECI (claiming exemption from U.S. federal withholding tax because the
income is effectively connected with a U.S. trade or business) or any successor
form;

     

    (ii)       IRS
Form W-8BEN (claiming exemption from, or a reduction of, U.S. federal
withholding tax under an income tax treaty) or any successor form;

     

    (iii)      in
the case of a Foreign Lender claiming exemption under Section 871(h) or 881(c)
of the Code, an IRS Form W-8BEN or any successor form and a certificate
substantially in the form of Exhibit J (to
claim exemption from U.S. federal withholding tax under the portfolio interest
exemption); or

     

    (iv)      any
other applicable form, certificate or document prescribed by the IRS certifying
as to such Foreign Lender’s entitlement to such exemption from U.S. federal
withholding tax or reduced rate with respect to specified payments to be made by
the U.S. Borrower to such Foreign Lender under the Loan Documents.

     

    To the
extent it is legally entitled to do so, any Foreign Lender with respect to a
Loan to a U.S. Borrower which Lender does not act or ceases to act for its own
account with respect to any portion of any sums paid or payable to such Foreign
Lender under any of the Loan Documents shall deliver to Administrative Agent and
the U.S. Borrower, on or prior to the date such Foreign Lender becomes a Lender,
or on or prior to such later date when such Foreign Lender ceases to act for its
own account with respect to any portion of any such sums paid or payable (and on
or prior to the date on which any such form or certification expires or becomes
obsolete or incorrect, after the occurrence of any event involving such Foreign
Lender that requires a change in the most recent form or certification
previously delivered by it to the U.S. Borrower and the Administrative Agent,
and from time to time thereafter if reasonably requested by the U.S. Borrower or
Administrative Agent), two completed originals of IRS Form W-8IMY (or any
successor forms) properly completed and duly executed by such Foreign Lender,
together with all information required to be transmitted with such form, and any
other certificate or statement of exemption required under the Code or
reasonably requested by the Borrowers’ Agent or the Administrative Agent, to
establish that such Foreign Lender is not acting for its own account with
respect to a portion of any such sums payable to such Foreign Lender and to
establish that such portion may be received without deduction for, or at a
reduced rate of, U.S. federal withholding tax (including, if the Foreign Lender
is claiming the portfolio interest exemption with respect to one or more of its
beneficial owners, a certificate substantially in the form of Exhibit J with
respect to such beneficial owners).

     

    
      
        
           

        

        
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    In
addition to the foregoing, any Lender that is entitled to an exemption from or
reduction of withholding tax under the law of any jurisdiction in which any
Borrower is located or doing business, or any treaty to which such jurisdiction
is a party, with respect to payments under this Agreement or any other Loan
Document shall deliver to such Borrower and the Administrative Agent, at the
time or times prescribed by applicable law, such properly completed and executed
documentation prescribed by applicable law or reasonably requested by such
Borrower or the Administrative Agent as will permit such payments to be made
without withholding or at a reduced rate, provided that such Lender has
received written notice from such Borrower or the Administrative Agent advising
it of the availability of such exemption or reduction and supplying all
applicable documentation.

     

    The
Administrative Agent shall, to the extent it is legally entitled to do so,
provide the U.S. Borrower with, (i) with respect to any amount received on
behalf of a Lender, one completed original of IRS Form W-9 or W-8IMY, as
applicable, (ii) with respect to any fee received by the Administrative Agent
hereunder, one completed original of IRS Form W-9 or applicable W-8 and (iii)
any other documentation reasonably requested by the U.S. Borrower as will permit
any payment of such fee to be made without withholding or at a reduced rate of
withholding.  Thereafter and from time to time, the Administrative
Agent shall, to the extent it is legally entitled to do so, provide the U.S.
Borrower such additional duly completed and signed copies of one or more of such
forms (or such successor forms) or documentations on or prior to the date on
which any such form or documentation expires or becomes obsolete or
incorrect.

     

    (e)           Each
Lender that is a “United States person” within the meaning of Section
7701(a)(30) of the Code shall, on the date such Lender becomes a party hereto,
provide the Borrowers’ Agent and the Administrative Agent with two completed
originals of IRS Form W-9 certifying that such Lender is exempt from U.S.
federal backup withholding and shall update such form from time to time if such
form expires or becomes obsolete or incorrect.

     

    (f)           Any
Lender or Agent claiming any additional amounts or indemnification payments
pursuant to this Section 3.01 shall use its reasonable efforts (if requested by
the Borrowers’ Agent) to change the jurisdiction of its Lending Office or take
other steps (in each case, at Borrowers’ expense) if such a change or other
steps would reduce any such additional amounts or indemnification payments (or
any similar amount that may thereafter accrue) and would not, in the sole
determination of such Lender or Agent, result in any unreimbursed cost or
expense or be otherwise disadvantageous to such Lender or Agent.

     

    (g)           If
any Lender or Agent determines, in its sole good faith discretion, that it has
received a refund in respect of any Indemnified Taxes or Other Taxes as to which
indemnification or additional amounts have been paid to it by the Borrowers
pursuant to this Section 3.01, it shall promptly remit the portion of such
refund to the applicable Loan Party that will leave it in no better or worse
after-tax position (taking into account all out-of-pocket expenses of the Lender
or Agent, as the case may be, than if the Indemnified Tax or Other Tax giving
rise to such refund had not been imposed in the first instance); provided that the Loan
Parties, upon the request of the Lender or Agent, as the case may be, agree
promptly to return such refund (plus any penalties, interest or other charges
imposed by the relevant taxing authority) to such party in the event such party
is required to repay such refund to the relevant taxing
authority.  This clause (g) shall not be construed to require any
Lender or Agent to make available its tax returns (or any other information
relating to its taxes that it deems confidential) to any Loan Party or any other
Person.

     

    
      
        
           

        

        
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      Section
3.02.       Illegality

    

     

    If any
Lender determines that any Law has made it unlawful or otherwise prohibited, or
that any Governmental Authority has asserted that it is unlawful or otherwise
prohibited, for any Lender or its applicable Lending Office to make, maintain or
fund Eurocurrency Rate Loans of any currency, or to determine or charge interest
rates based upon the Eurocurrency Rate for any currency, then, on notice thereof
by such Lender to the Borrowers’ Agent through the Administrative Agent, any
obligation of such Lender to make or continue Eurocurrency Rate Loans of such
currency or to convert Base Rate Loans to Eurocurrency Rate Loans shall be
suspended until such Lender notifies the Administrative Agent and the Borrowers’
Agent that the circumstances giving rise to such determination no longer
exist.  Upon receipt of such notice, the Borrowers’ Agent shall upon
demand from such Lender (with a copy to the Administrative Agent), prepay or, if
applicable, convert all applicable Eurocurrency Rate Loans of such Lender to
Base Rate Loans, either on the last day of the Interest Period therefor, if such
Lender may in compliance with applicable Law continue to maintain such
Eurocurrency Rate Loans to such day, or promptly, if such Lender may not in
compliance with applicable Law continue to maintain such Eurocurrency Rate
Loans.  Upon any such prepayment or conversion, such Borrower shall
also pay accrued interest on the amount so prepaid or converted and all amounts
due, if any, in connection with such prepayment or conversion under Section
3.05.  Each Lender agrees to designate a different Lending Office if
such designation will avoid the need for such notice and will not, in the good
faith judgment of such Lender, otherwise be materially disadvantageous to such
Lender.

     

    
      Section
3.03.       Inability To Determine
Rates

    

     

    If the
Required Lenders determine that for any reason adequate and reasonable means do
not exist for determining the applicable Eurocurrency Rate for any requested
Interest Period with respect to a proposed Eurocurrency Rate Loan, or that the
Eurocurrency Rate for any requested Interest Period with respect to a proposed
Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such
Lenders of funding such Loan, or that Dollar or other applicable deposits are
not being offered to banks in the London interbank Eurodollar, or other
applicable, market for the applicable amount and the Interest Period of such
Eurocurrency Rate Loan, the Administrative Agent will promptly so notify the
Borrowers’ Agent and each Lender.  Thereafter, the obligation of the
Lenders to make or maintain Eurocurrency Rate Loans of any applicable currency
shall be suspended until the Administrative Agent (upon the instruction of the
Required Lenders) revokes such notice.  Upon receipt of such notice,
the Borrowers’ Agent may revoke any pending request for a Borrowing of,
conversion to or continuation of such Eurocurrency Rate Loans or, failing that,
will be deemed to have converted such request, if applicable, into a request for
a Borrowing of Base Rate Loans in the amount specified therein.

     

    Section
3.04.        Increased Cost and Reduced
Return; Capital Adequacy; Reserves on Eurocurrency Rate
Loans

     

    (a)           If
any Lender determines that as a result of a Change in Law after the Original
Closing Date, or such Lender’s compliance therewith, there shall be any increase
in the cost to such Lender of agreeing to make or making, funding or maintaining
any Eurocurrency Rate Loans (or, in the case of any Taxes not excluded below,
any Loans) or (as the case may be) issuing or participating in Letters of
Credit, or a reduction in the amount received or receivable by such Lender in
connection with any of the foregoing (excluding for purposes of this Section
3.04(a) any such increased costs or reduction in amount resulting from (i)
Indemnified Taxes or Excluded Taxes, (ii) reserve requirements contemplated by
Section 3.04(c), (iii) the requirements of the European Central Bank reflected
in the Mandatory Cost (other than as set forth below) or the Mandatory Cost, as
calculated hereunder, does not represent the cost to such Lender of complying
with the requirements of the Financial Services Authority or the European
Central Bank in relation to its making, funding or maintaining of Eurocurrency
Rate Loans and (iv) the implementation or application of or compliance with the
“International Convergence of Capital Measurement and Capital Standards, a
Revised Framework” published by the Basel Committee on Banking Supervision in
June 2004 in the form existing on the date of this Agreement (“Basel II”) or any other law or
regulation which implements Basel II (whether such implementation, application
or compliance is by a government, regulator, the Lenders or any of its
Affiliates or the Agents or any of its Affiliates)), then from time to time
within fifteen (15) days after demand by such Lender setting forth in reasonable
detail such increased costs (with a copy of such demand to the Administrative
Agent given in accordance with Section 3.06), the applicable Borrower shall pay
to such Lender such additional amounts as will compensate such Lender for such
increased cost or reduction or, if applicable, the portion of such cost that is
not represented by the Mandatory Cost.

     

    
      
        
           

        

        
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    (b)           If
any Lender determines that the introduction of any Law regarding capital
adequacy or any change therein or in the interpretation thereof, in each case
after the Original Closing Date, or compliance by such Lender (or its Lending
Office) therewith, has the effect of reducing the rate of return on the capital
of such Lender or any corporation controlling such Lender as a consequence of
such Lender’s obligations hereunder (taking into consideration its policies with
respect to capital adequacy and such Lender’s desired return on capital), then
from time to time upon demand of such Lender setting forth in reasonable detail
the charge and the calculation of such reduced rate of return (with a copy of
such demand to the Administrative Agent given in accordance with Section 3.06),
the applicable Borrower shall pay to such Lender such additional amounts as will
compensate such Lender for such reduction within fifteen (15) days after receipt
of such demand.

     

    (c)           Each
Borrower shall pay to each Lender, (i) as long as such Lender shall be required
to maintain reserves with respect to liabilities or assets consisting of or
including Eurocurrency funds or deposits, additional interest on the unpaid
principal amount of each applicable Eurocurrency Rate Loan of such Borrower
equal to the actual costs of such reserves allocated to such Loan by such Lender
(as determined by such Lender in good faith, which determination shall be
conclusive in the absence of manifest error), and (ii) as long as such Lender
shall be required to comply with any reserve ratio requirement or analogous
requirement of any other central banking or financial regulatory authority
imposed in respect of the maintenance of the Commitments or the funding of any
Eurocurrency Rate Loans of such Borrower, such additional costs (expressed as a
percentage per annum and rounded upwards, if necessary, to the nearest five
decimal places) equal to the actual costs allocated to such Commitment or Loan
by such Lender (as determined by such Lender in good faith, which determination
shall be conclusive absent manifest error) which in each case shall be due and
payable on each date on which interest is payable on such Loan, provided the Borrowers’ Agent
shall have received at least fifteen (15) days’ prior notice (with a copy to the
Administrative Agent) of such additional interest or cost from such
Lender.  If a Lender fails to give notice fifteen (15) days prior to
the relevant Interest Payment Date, such additional interest or cost shall be
due and payable fifteen (15) days from receipt of such notice.

     

    (d)           Failure
or delay on the part of any Lender to demand compensation pursuant to this
Section 3.04 shall not constitute a waiver of such Lender’s right to demand such
compensation.

     

    (e)           If
any Lender requests compensation under this Section 3.04, then such Lender will,
if requested by the Borrowers’ Agent, use commercially reasonable efforts to
designate another Lending Office for any Loan or Letter of Credit affected by
such event; provided
that such efforts are made on terms that, in the reasonable judgment of such
Lender, cause such Lender and its Lending Office(s) to suffer no material
economic, legal or regulatory disadvantage, and provided further that nothing in this
Section 3.04(e) shall affect or postpone any of the Obligations of such Borrower
or the rights of such Lender pursuant to Section 3.04(a), (b), (c) or
(d).

     

    Section
3.05.        Funding
Losses

     

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

     

    (a)           (i)
any continuation, conversion, payment or prepayment of any Eurocurrency Rate
Loan of such Borrower on a day other than the last day of the Interest Period
for such Loan or (ii) the CAM Exchange (in each case, whether voluntary,
mandatory, automatic, by reason of acceleration, or otherwise); or

     

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

     

    including
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.

     

    For
purposes of calculating amounts payable by any Borrower to the Lenders under
this Section 3.05, each Lender shall be deemed to have funded each Eurocurrency
Rate Loan made by it at the Eurocurrency 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 Eurocurrency
Rate Loan was in fact so funded.

     

    Section
3.06.       Matters Applicable to All
Requests for Compensation

     

    (a)           Any
Agent or any Lender claiming compensation under this Article III shall deliver a
certificate to the Borrowers’ Agent setting forth the additional amount or
amounts to be paid to it hereunder which shall be conclusive in the absence of
manifest error.  In determining such amount, such Agent or such Lender
may use any reasonable averaging and attribution methods.

     

    (b)           With
respect to any Lender’s claim for compensation under Section 3.01, 3.02, 3.03 or
3.04, the Borrowers’ Agent shall not be required to compensate such Lender for
any amount incurred more than one hundred and twenty (120) days prior to the
date that such Lender notifies the applicable Borrower of the event that gives
rise to such claim; provided that, if the
circumstance giving rise to such claim is retroactive, then such 120-day period
referred to above shall be extended to include the period of retroactive effect
thereof.  If any Lender requests compensation by the Borrowers under
Section 3.04, the Borrowers’ Agent may, by notice to such Lender (with a copy to
the Administrative Agent), suspend the obligation of such Lender to make or
continue from one Interest Period to another applicable Eurocurrency Rate Loans,
or, if applicable, to convert Base Rate Loans into Eurocurrency Rate Loans,
until the event or condition giving rise to such request ceases to be in effect
(in which case the provisions of Section 3.06(c) shall be applicable); provided that such suspension
shall not affect the right of such Lender to receive the compensation so
requested.

     

    (c)           If
the obligation of any Lender to make or continue any Eurocurrency Rate Loan, or
to convert Base Rate Loans into Eurocurrency Rate Loans shall be suspended
pursuant to Section 3.06(b) hereof, such Lender’s applicable Eurocurrency Rate
Loans shall be automatically converted into Base Rate Loans (or, if such
conversion is not possible, repaid) on the last day(s) of the then current
Interest Period(s) for such Eurocurrency Rate Loans (or, in the case of an
immediate conversion required by Section 3.02, on such earlier date as required
by Law) and, unless and until such Lender gives notice as provided below that
the circumstances specified in Section 3.01, 3.02, 3.03 or 3.04 hereof that gave
rise to such conversion no longer exist:

     

    
      
        
           

        

        
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    (i)       to
the extent that such Lender’s Eurocurrency Rate Loans have been so converted,
all payments and prepayments of principal that would otherwise be applied to
such Lender’s applicable Eurocurrency Rate Loans shall be applied instead to its
Base Rate Loans; and

     

    (ii)       all
Loans that would otherwise be made or continued from one Interest Period to
another by such Lender as Eurocurrency Rate Loans shall be made or continued
instead as Base Rate Loans (if possible), and all Base Rate Loans of such Lender
that would otherwise be converted into Eurocurrency Rate Loans shall remain as
Base Rate Loans.

     

    (d)           If
any Lender gives notice to the Borrowers (with a copy to the Administrative
Agent) that the circumstances specified in Section 3.01, 3.02, 3.03 or 3.04
hereof that gave rise to the conversion of any of such Lender’ s Eurocurrency
Rate Loans pursuant to this Section 3.06 no longer exist (which such Lender
agrees to do promptly upon such circumstances ceasing to exist) at a time when
Eurocurrency Rate Loans made by other Lenders under the applicable Facility are
outstanding, if applicable, such Lender’s Base Rate Loans shall be automatically
converted, on the first day(s) of the next succeeding Interest Period(s) for
such outstanding Eurocurrency Rate Loans, to the extent necessary so that, after
giving effect thereto, all Loans held by the Lenders holding Eurocurrency Rate
Loans (in Dollars) under such Facility and by such Lender are held pro rata (as
to principal amounts, interest rate basis, and Interest Periods) in accordance
with their respective Commitments for the applicable Facility.

     

    Section
3.07.        Replacement of Lenders Under
Certain Circumstances

     

    (a)           If
at any time (i) the Borrowers become obligated to pay additional amounts or
indemnity payments described in Section 3.01 or 3.04 as a result of any
condition described in such Sections or any Lender ceases to make any
Eurocurrency Rate Loans as a result of any condition described in Section 3.02
or Section 3.04, (ii) any Lender becomes a Defaulting Lender or (iii) any Lender
becomes a Non-Consenting Lender, then the Borrowers’ Agent may, on ten (10)
Business Days’ prior written notice to the Administrative Agent and such Lender,
replace such Lender by causing such Lender to (and such Lender shall be
obligated to) assign pursuant to Section 10.07(b) (with the assignment fee to be
paid by the Company in each such instance) all of its rights and obligations
under this Agreement (in respect of any applicable Facility only in the case of
clause (i) or, with respect to a Class vote, clause (iii)) to one or more
Assignees; provided
that neither the Administrative Agent nor any Lender shall have any obligation
to the Borrowers to find a replacement Lender or other such Person; and provided further that (A) in the case
of any such assignment resulting from a Lender becoming a Non-Consenting Lender,
the applicable Assignees shall have agreed to, and shall be sufficient (together
with all other consenting Lenders) to cause the adoption of, the applicable
departure, waiver or amendment of the Loan Documents and (B) 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.

     

    (b)           Any
Lender being replaced pursuant to Section 3.07(a) above shall (i) execute and
deliver an Assignment and Assumption with respect to such Lender’s applicable
Commitment and outstanding Loans and participations in L/C Obligations and Swing
Line Loans in respect thereof, and (ii) deliver any Notes evidencing such Loans
to the applicable Borrowers or to the Administrative Agent.  Pursuant
to such Assignment and Assumption, (A) the assignee Lender shall acquire all or
a portion, as the case may be, of the assigning Lender’s Commitment and
outstanding Loans and participations in L/C Obligations and Swing Line Loans,
(B) all obligations of the Borrowers owing to the assigning Lender relating
to the Loans, Commitments and participations so assigned (including any amounts
owed under Section 2.05, assuming for this purpose (in the case of a Lender
being replaced pursuant to Section 3.07(a)(iii)) that the Loans of such Lender
were being voluntarily prepaid) shall be paid in full by the assignee Lender to
such assigning Lender concurrently with such Assignment and Assumption and (C)
upon such payment and, if so requested by the assignee Lender, delivery to the
assignee Lender of the appropriate Note or Notes executed by the applicable
Borrowers, the assignee Lender shall become a Lender hereunder and the assigning
Lender shall cease to constitute a Lender hereunder with respect to such
assigned Loans, Commitments and participations, except with respect to
indemnification provisions under this Agreement, which shall survive as to such
assigning Lender.  In connection with any such replacement, if any
such Non-Consenting Lender or Defaulting Lender does not execute and deliver to
the Administrative Agent a duly executed Assignment and Assumption reflecting
such replacement within five (5) Business Days of the date on which the assignee
Lender executes and delivers such Assignment and Assumption to such
Non-Consenting Lender or Defaulting Lender, then such Non-Consenting Lender or
Defaulting Lender shall be deemed to have executed and delivered such Assignment
and Assumption without any action on the part of the Non-Consenting Lender or
Defaulting Lender.

     

    
      
        
           

        

        
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    (c)           Notwithstanding
anything to the contrary contained above, any Lender that acts as an L/C Issuer
may not be replaced hereunder at any time that it has any Letter of Credit
outstanding hereunder unless arrangements reasonably satisfactory to such L/C
Issuer (including the furnishing of a back-up standby letter of credit in form
and substance, and issued by an issuer reasonably satisfactory to such L/C
Issuer or the depositing of cash collateral into a cash collateral account in
amounts and pursuant to arrangements reasonably satisfactory to such L/C Issuer)
have been made with respect to each such outstanding Letter of Credit and the
Lender that acts as the Administrative Agent may not be replaced hereunder
except in accordance with the terms of Section 9.09.

     

    (d)           In
the event that (i) the Borrowers or the Administrative Agent has requested that
the Lenders consent to a departure or waiver of any provisions of the Loan
Documents or agree to any amendment thereto, (ii) the consent, waiver or
amendment in question requires the agreement of all affected Lenders in
accordance with the terms of Section 10.01 or all the Lenders with respect to a
certain Class of the Loans and (iii) the Required Lenders or the Required Class
Lenders of the relevant Class have agreed to such consent, waiver or amendment,
then any Lender who does not agree to such consent, waiver or amendment shall be
deemed a “Non-Consenting
Lender.”

     

    Section
3.08.        Survival

     

    All of
the Borrowers’ obligations under this Article III shall survive termination of
the Aggregate Commitments and repayment of all other payment Obligations
hereunder.

     

    Section
3.09.        Calculation of Applicable
Rate

     

    In the
event that any financial statement delivered pursuant to Section 6.01 or
Compliance Certificate delivered pursuant to Section 6.02(a) is shown to be
inaccurate (regardless of whether this Agreement or the Commitments are in
effect when such inaccuracy is discovered), and such inaccuracy, if corrected,
would have led to a higher Applicable Rate for any period (an “Applicable Period”) than the
Applicable Rate applied for such Applicable Period, then (i) the Company shall
as promptly as reasonably practicable deliver to the Administrative Agent a
correct Compliance Certificate for such Applicable Period, (ii) the Applicable
Rate shall be determined by reference to the corrected Compliance Certificate
(but in no event shall the Lenders owe any amounts to any Borrower), and (iii)
such Borrower shall immediately pay to the Administrative Agent the additional
interest owing as a result of such increased Applicable Rate for such Applicable
Period, which payment shall be promptly applied by the Administrative Agent in
accordance with the terms hereof.  This Section 3.09 shall not limit
the rights of the Administrative Agent and the Lenders hereunder.

     

    
      
        
           

        

        
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    ARTICLE
IV.

     

    Conditions Precedent to
Credit Extensions

     

    Section
4.01.        Conditions of Initial Credit
Extension

     

    The
obligation of each Lender to make the Credit Extensions on the Original Closing
Date hereunder was subject to satisfaction of the following conditions
precedent:

     

    (a)         The
Administrative Agent’s receipt of the following, each of which shall be
originals or facsimiles (followed promptly by originals) unless otherwise
specified, each properly executed by a Responsible Officer of the signing Loan
Party to the extent such Loan Party is a party thereto, each in form and
substance reasonably satisfactory to the Administrative Agent and its legal
counsel:

     

    (i)       
executed counterparts of this Agreement (including by all Lenders party
hereto);

     

    (ii)      
a Note executed by each relevant Borrower in favor of each Lender that has
requested a Note more than three (3) Business Days prior to the Original Closing
Date;

     

    (iii)     
except where delivery after the Original Closing Date is contemplated by Section
6.14(a), each Collateral Document set forth on Schedule 1.01G, duly
executed by each Loan Party party thereto, together with:

     

    (A)           certificates,
if any, representing the Pledged Equity referred to therein accompanied, if
applicable, by undated stock powers executed in blank and instruments evidencing
the Pledged Debt indorsed in blank, and

     

    (B)           where
appropriate and customary in each relevant jurisdiction where the Guarantors are
organized, evidence that all other actions, recordings and filings that the
Administrative Agent may acting reasonably deem necessary to satisfy the
Collateral and Guarantee Requirement (and as have been notified to the
Borrowers’ Agent or their counsel no later than three (3) Business Days prior to
the Original Closing Date) shall have been taken, completed or otherwise
provided for in a manner reasonably satisfactory to the Administrative
Agent;

     

    (iv)      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 reasonably require (and as have been notified to the
Borrowers’ Agent no later than three (3) Business Days before the Original
Closing Date) 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 or is to be a party on the Original Closing Date;

     

    (v)       (A)  the
executed legal opinion of Skadden, Arps, Slate, Meagher & Flom LLP, special
U.S. counsel to the Company and certain other Loan Parties, substantially in the
form of Exhibit H;
and

     

    
      
        
           

        

        
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    (B)          the
executed legal opinion of local counsel to the Lenders or Loan Parties, as
applicable, in the jurisdictions listed on Schedule
4.01(a)(v)(B), in form and substance reasonably satisfactory to the
Administrative Agent;

     

    (vi)          a
certificate signed by a Company Financial Officer certifying that since the date
of the Acquisition Agreement there has been no Material Adverse
Change;

     

    (vii)        a
certificate signed by a Company Financial Officer attesting to the Solvency of
the Loan Parties (taken as a whole) after giving effect to the Transactions,
from;

     

    (viii)       except
as contemplated by Section 6.14(a), evidence that all insurance (including title
insurance) required to be maintained pursuant to the Loan Documents has been
obtained and is in effect and that the Collateral Agent has been named as loss
payee, mortgagee and additional insured under each insurance policy with respect
to such insurance as to which the Collateral Agent shall have requested to be so
named;

     

    (ix)          a
Committed Loan Notice relating to the Credit Extensions made on the Original
Closing Date;

     

    (x)          
the Intercreditor Agreement, executed and delivered by a duly authorized officer
of the applicable Loan Parties and of the Collateral Agent and other agents
party thereto; and

     

    (xi)          the
non-U.S. documentation set forth on Schedule
4.01(a)(xi).

     

    (b)       prior
to or substantially simultaneously with the Credit Extensions made on the
Original Closing Date, arrangements reasonably satisfactory to the Arrangers
shall have been made to pay all fees and expenses (to the extent invoices for
such expenses have been provided at least five (5) Business Days prior to the
Original Closing Date) required to be paid hereunder by the Company or any
Borrower from the Credit Extensions made on the Original Closing
Date.

     

    (c)        prior
to or substantially simultaneously with the Credit Extensions made on the
Original Closing Date, the Acquisition shall have been consummated in accordance
with the terms of the Acquisition Agreement (except for the filing of the merger
certificate which shall occur substantially concurrently), without giving effect
to any amendments or waivers thereto (excluding any waiver by Lyondell of the
conditions set forth in Section 6.3(a)(i) of the Acquisition Agreement) that are
materially adverse to the Lenders made without reasonable consent of the
Arrangers (such consent not to be unreasonably withheld or delayed), and in
compliance with applicable material Laws and regulatory approvals.

     

    (d)        prior
to or substantially simultaneously with the Credit Extensions for Tranche A Term
Loans made on the Original Closing Date, the Company shall have received at
least $8,000,000,000 in gross cash proceeds from the issuance of the Senior
Second Interim Loans.

     

    (e)        the
Company and its Subsidiaries shall have outstanding no Financial Indebtedness or
Disqualified Equity Interests other than (A) the Loans and other Obligations,
(B) the Senior Second Lien Interim Loans, (C) the Existing Notes,
(D) Existing Indebtedness (including letters of credit issued and
outstanding on the Original Closing Date), (E) the Asset Backed Credit
Facility, Receivables Financing and Securitization Transactions and (F)
liabilities incurred in the ordinary course of business and (G) liabilities
disclosed in the Pro Forma Financial Statements, in each case to the extent
permitted by Section 7.03.

     

    
      
        
           

        

        
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    (f)        the
Administrative Agent shall have received all documentation and other information
mutually agreed to be required by regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including the
United States PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October
26, 2001)) (the “USA Patriot
Act”), including the information described in Section 10.20.

     

    Section
4.02.     Conditions to All Credit
Extensions.

     

    The
obligation of each Lender and each L/C Issuer to make any Credit Extension
(including any Credit Extension made pursuant to Section 2.14 and including, in
the case of Sections 4.02(a) and (c)), the Credit Extensions made on the
Original Closing Date) is subject to the satisfaction of the following
conditions precedent; provided that a conversion of
Loans to the other Type or a continuation of Eurocurrency Rate Loans shall not
be deemed a Credit Extension for the purposes of this Section 4.02.

     

    (a)       The
representations and warranties of each Borrower and each other Loan Party
contained in Article V or any other Loan Document shall be true and correct in
all material respects on and as of the date of such Credit Extension (except
that the representations contained in Sections 5.02, 5.04 and 5.13 shall be the
only representations the accuracy of which shall be a condition to the Credit
Extensions made on the Original Closing Date); provided that to the extent
that such representations and warranties specifically refer to an earlier date,
they shall be true and correct in all material respects as of such earlier date;
provided, further, that any
representation and warranty that is qualified as to “materiality,” “Material
Adverse Effect” or similar language shall be true and correct in all respects on
such respective dates.

     

    (b)      Except
in the case of the Credit Extensions made on the Original Closing Date, no
Default shall exist or would result from such proposed Credit Extension or from
the application of the proceeds therefrom.

     

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

     

    Each
Request for Credit Extension (other than a Committed Loan Notice requesting only
a conversion of Loans to the other type or a continuation of Eurocurrency Rate
Loans) submitted by the Borrowers’ Agent shall be deemed to be a representation
and warranty that the conditions specified in Sections 4.02(a) and (other than
in respect of the Credit Extensions made on the Original Closing Date) (b) have
been satisfied on and as of the date of the applicable Credit
Extension.

     

    Section
4.03.     Conditions Precedent to the
Amendment Effective Date

     

    The
effectiveness of this Agreement shall be subject to:

     

    (a)       The
execution and delivery of this Agreement by a duly Responsible Officer of the
Company, each other Loan Party, the Required Lenders (as defined in the Original
Credit Agreement), the Primary Administrative Agent and the European
Administrative Agent.

     

    (b)      Payment
of all fees and expenses and all other amounts owing required to be paid
hereunder by the Company, any Borrower or any other Loan Party, including
Attorney Costs due and payable to Cahill Gordon & Reindel llp, counsel to
the Administrative Agent set forth in an invoice provided to the Borrowers’
Agent on April 28, 2008.

     

    
      
        
           

        

        
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    (c)       An
officers’ certificate signed by a Responsible Officers of each Loan Party as the
Administrative Agent may reasonably require evidencing the identity, authority
and capacity of each Responsible Officer thereof authorized to act as a
Responsible Officer in connection with this Agreement.

     

    (d)      The
representations and warranties of each Borrower and each other Loan Party
contained in Article V shall be true and correct in all material respects on and
as of the date of the effectiveness of this Agreement; provided that to the extent
that such representations and warranties specifically refer to an earlier date,
they shall be true and correct in all material respects as of such earlier date;
provided, further, that any
representation and warranty that is qualified as to “materiality,” “Material
Adverse Effect” or similar language shall be true and correct in all respects on
such respective dates.

     

    (e)       No
Default shall exist on the Amendment Effective Date or would result from the
effectiveness of this Agreement.

     

    (f)       The
concurrent execution, delivery and effectiveness of the amendments to the Senior
Second Lien Interim Loan Agreement and the Third Amended and Restated Fee Letter
in form and substance satisfactory to the Administrative Agent and the
Borrowers’ Agent (in each case, acting reasonably).

     

    (g)      The
concurrent execution and delivery of (1) an effective instrument pursuant to
which the Joint Lead Arrangers unconditionally and irrevocably provide
additional commitments under the ABF Inventory Facility of $600,000,000 in form
and substance satisfactory to the Administrative Agent and the Borrowers’ Agent,
and (2) an instrument pursuant to which the Joint Lead Arrangers irrevocably and
unconditionally agree to amend both the ABF Inventory Facility and the ABF
Receivables Facility in order to (A) increase the incremental aggregate capacity
under the ABF Inventory Facility by an additional $500,000,000 and (B) increase
the aggregate permitted amount of in-transit inventory to $250,000,000, in each
case, in form and substance satisfactory to the Administrative Agent and the
Borrowers’ Agent.

     

    (h)      The
Administrative Agent shall have received a completed “Life-of-Loan” Federal
Emergency Management Agency Standard Flood Hazard Determination with respect to
each Domestic Mortgaged Property identified on Schedule 1.01F (excluding
Excluded Easements) (together with a notice about special flood hazard area
status and flood disaster assistance duly executed by the U.S. Borrower and each
Loan Party relating thereto).

     

    (i)        The
Administrative Agent shall have received a copy of, or a certificate as to
coverage under, the insurance policies required by Section
6.07  (including, without limitation, flood insurance policies) and
the applicable provisions of the Collateral Documents, each of which shall be
endorsed or otherwise amended to include a “standard” or “New York” lender’s
loss payable or mortgagee endorsement (as applicable) and shall name the
Collateral Agent, on behalf of the Secured Parties, as additional insured, in
form and substance satisfactory to the Administrative Agent.

     

    ARTICLE
V.

     

    Representations and
Warranties

     

    Each Loan
Party represents and warrants to the Agents and the Lenders that:

     

    
      
        
           

        

        
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    Section
5.01.     Existence, Qualification and
Power; Compliance with Laws.

     

    Subject
to the Legal Reservations, each Loan Party and each Material Subsidiary (a) is a
Person duly organized or formed, validly existing and in good standing, in each
case where such concept exists, under the Laws of the jurisdiction of its
incorporation or organization, (b) has all requisite constitutional, corporate
or other similar power and authority to (i) own or lease its material assets and
carry on its business substantially as currently conducted and (ii) execute,
deliver and perform its obligations under the Loan Documents to which it is a
party, (c) is duly qualified and in good standing, in each case where such
concept exists, under the Laws of each jurisdiction where its ownership, lease
or operation of properties or the conduct of its business requires such
qualification, (d) is in compliance with all Laws, orders, writs and injunctions
and (e) has all requisite governmental licenses, authorizations, consents and
approvals to operate its business as currently conducted; except in each case
referred to in clause (c), (d) or (e), to the extent that failure to do so could
not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

     

    Section
5.02.     Authorization; No
Contravention

     

    The
execution, delivery and performance by each Loan Party of each Loan Document to
which such Person is a party, and the consummation of the Transaction, are
within such Loan Party’s corporate or other powers, 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) in any
material way, conflict with or result in any breach or contravention of or the
creation of any Lien under (other than as permitted by Section 7.01), or require
any payment to be made under, (i) except payments as set forth in the funds flow
memorandum dated the Original Closing Date and delivered to the Administrative
Agent, any Contractual Obligation 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 in any material way, injunction, writ or decree of any Governmental
Authority or any arbitral award to which such Person or its property is subject
in any material way; or (c) violate any material Law in any material way; except
with respect to any conflict, breach or contravention or payment (but not
creation of Liens) referred to in clause (b)(i), to the extent that such
conflict, breach, contravention, violation or payment could not, individually or
in the aggregate, reasonably be expected to have a Material Adverse
Effect.

     

    Section
5.03.     Governmental Authorization;
Other Consents

     

    Subject
to the Legal Reservations, no material approval, consent, exemption,
authorization, or other action by, or notice to, or filing with, any
Governmental Authority or any other Person is necessary for or required of a
Loan Party in connection with (a) the execution, delivery or performance by, or
enforcement against, any Loan Party of this Agreement or any other Loan
Document, or for the consummation of the Transaction, (b) the grant by any Loan
Party of the Liens granted by it pursuant to the Collateral Documents, (c) the
perfection or maintenance of the Liens created under the Collateral Documents
(including the priority thereof) or (d) the exercise by the Administrative Agent
or any Lender of its rights under the Loan Documents or the remedies in respect
of the Collateral pursuant to the Collateral Documents, except for (i) filings,
notices, consents and registrations necessary to perfect the Liens on the
Collateral granted by the Loan Parties in favor of the Secured Parties, (ii) the
approvals, consents, exemptions, authorizations, actions, notices and filings
which have been duly obtained, taken, given or made and are in full force and
effect (or, with respect to consummation of the Transaction, will be duly
obtained, taken, given or made and will be in full force and effect, in each
case within the time period required to be so obtained, taken, given or made);
(iii) those approvals, consents, exemptions, authorizations or other actions,
notices or filings, the failure of which to obtain or make could not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect and (iv) those not required in accordance with Agreed Security
Principles.

    
      
         

      

      
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    Section
5.04.     Binding
Effect

     

    This
Agreement and each other Loan Document dated on or prior to the date this
representation is made has been duly executed and delivered by each Loan Party
that is a party thereto.  This Agreement and each other Loan Document
dated on or prior to the date this representation is made constitutes, a legal,
valid and binding obligation of such Loan Party, enforceable against each Loan
Party that is a party thereto in accordance with its terms, except as such
enforceability may be limited by (i) Debtor Relief Laws and by general
principles of equity, (ii) the need for filings and registrations necessary to
perfect the Liens on the Collateral granted by the Loan Parties in favor of the
Secured Parties and (iii) the effect of foreign Laws, rules and regulations as
they relate to pledges of Equity Interests in Foreign Subsidiaries (other than
those pledges made under the Laws of the jurisdiction of formation of the
applicable Foreign Subsidiary).

     

    Section
5.05.     Financial Statements; No
Material Adverse Effect

     

    (a)           (i)  The
unaudited pro forma consolidated balance sheet of the Company and its
Subsidiaries as of September 30, 2007 (including the notes thereto) (the
“Pro Forma Balance
Sheet”) and the related pro forma consolidated statement of income of the
Company and its Subsidiaries for the twelve months ended September 30, 2007
together with the Pro Forma Balance Sheet, the “Pro Forma Financial
Statements”), copies of which have heretofore been furnished to each
Lender, have been prepared giving effect (as if such events had occurred on
September 30, 2007 in the case of the Pro Forma Balance Sheet and
January 1, 2006 in the case of the Pro Forma income statement) to the
Transaction.  The Pro Forma Financial Statements have been prepared in
good faith, based on assumptions believed by the Company to be reasonable as of
the date of delivery thereof, and so far as it was then aware, shall present
fairly in all material respects on a pro forma basis the estimated financial
position of the Company and its Subsidiaries as of September 30, 2007 and their
estimated results of operations for the period covered thereby, assuming that
the events specified in the preceding sentence had actually occurred on
September 30, 2007 or January 1, 2006 as the case may be.

     

    (ii)           
On the Original Closing Date, the Audited Financial Statements fairly present in
all material respects the financial condition of the Company and its
Subsidiaries as of the dates thereof and their results of operations for the
period covered thereby in accordance with GAAP consistently applied throughout
the periods covered thereby, except as otherwise expressly noted
therein.  During the period from December 31, 2006 to and including
the Original Closing Date, there has been (x) no sale, transfer or other
disposition by the Company or any of its Subsidiaries of any material part of
the business or property of the Company or any of its Subsidiaries, taken as a
whole, and (y) no purchase or other acquisition by the Company or any of its
Subsidiaries of any business or property (including any Equity Interests of any
other Person) material in relation to the consolidated financial condition of
the Company and its Subsidiaries, in each case, which is not reflected in the
foregoing financial statements or in the notes thereto or has not otherwise been
disclosed in writing to the Lenders prior to the Original Closing
Date.

     

    (b)           The
forecasts of consolidated balance sheets, income statements and cash flow
statements of the Company and its Subsidiaries which have been furnished to the
Administrative Agent prior to the Original Closing Date have been prepared in
good faith on the basis of the assumptions stated therein, which assumptions
were believed to be reasonable at the time of preparation of such forecasts, it
being understood that actual results may vary from such forecasts and that such
variations may be material.

     

    
      
        
           

        

        
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    (c)           Since
the Original Closing Date, there has been no event or circumstance that could,
either individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

     

    (d)           As
of the Original Closing Date, the Company and its Subsidiaries shall have
outstanding no Financial Indebtedness or Disqualified Equity Interests other
than (i) the Loans and other Obligations, (ii) the Senior Second Lien
Interim Loans, (iii) the Existing Notes, (iv) Existing Indebtedness
(including letters of credit issued and outstanding on the Original Closing
Date), (E) the Asset Backed Credit Facility, Receivables Financing and
Securitization Transactions and (F) liabilities incurred in the ordinary course
of business and (G) liabilities disclosed in the Pro Forma Financial Statements,
in each case to the extent permitted by Section 7.03.

     

    Section
5.06.     Litigation

     

    There are
no actions, suits, proceedings, claims or disputes pending or, to the knowledge
of the Borrowers, threatened in writing or contemplated, at law, in equity, in
arbitration or before any Governmental Authority, by or against any Loan Party
or any of its Subsidiaries or against any of their properties or revenues that
could, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

     

    Section
5.07.     [Reserved]

     

    Section
5.08.     Ownership of Property;
Liens

     

    (a)           Each
Loan Party and each of its Subsidiaries has good record fee simple title (or
otherwise holds full legal (and, if applicable, beneficial) ownership under
applicable Law) to, or valid leasehold interests in, or easements or other
limited property interests in, all Real Property necessary in the ordinary
conduct of its business, free and clear of all Liens except for (x) minor
defects in title that do not materially interfere with its ability to conduct
its business or to utilize such assets for their intended purposes and
(y) Liens permitted under Section 7.01 (other than Section 7.01(z)) and
except where the failure to have such title could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse
Effect.

     

    (b)           As
of the Original Closing Date, Schedule 7 to
the Perfection Certificate dated the Original Closing Date contains a true and
complete list of each interest in material Real Property owned or ground leased
by the Loan Parties and describes the type of interest therein held by each such
entity.

     

    Section
5.09.     Environmental
Matters

     

    In each
case, except as set forth on Schedule
5.09,

     

    (a)       There
are no claims, actions, suits, proceedings, demands, notices or, to the
knowledge of any Loan Party and each of its Subsidiaries, investigations
alleging actual or potential liability of any Loan Party or its Subsidiaries
under or for violation of, or otherwise relating to, any Environmental Law that
could, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

     

    (b)      Except
for items that could not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect, (i) each Loan Party and each of their
respective Subsidiaries and each of their Real Property, other assets and
operations are in compliance with all applicable Environmental Laws, including
all Environmental Permits; (ii) none of the properties currently or, to the
knowledge of any Loan Party or any of its Subsidiaries, formerly, owned, leased
or operated by any Loan Party or any of its Subsidiaries is listed or formally
proposed for listing on the National Priority List under CERCLA, or the German
register of contaminated sites (Altlaster register) or any analogous list
maintained pursuant to any Environmental Law; (iii) all asbestos or
asbestos-containing material on, at or in any property or facility currently
owned, leased or operated by any Loan Party or any of its Subsidiaries is in
compliance with Environmental Laws; and (iv) there has been no Release of
Hazardous Materials by any Person on, at, under or from any property or facility
currently or formerly owned, leased or operated by any Loan Party or any of its
Subsidiaries and there has been no Release of Hazardous Materials by any Loan
Party or any of its Subsidiaries at any other location.

     

    
      
        
           

        

        
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    (c)       The
properties and facilities owned, leased or operated by the Loan Parties and
their Subsidiaries do not contain any Hazardous Materials in amounts or
concentrations which (i) constitute a violation of, (ii) require investigation
or other response or corrective action under, or (iii) could reasonably be
expected to give rise to liability under, Environmental Laws, which violations,
actions and/or liabilities, individually or in the aggregate, could, reasonably
be expected to result in a Material Adverse Effect.

     

    (d)      None
of the Loan Parties or their Subsidiaries is undertaking or financing, in whole
or in part, either individually or together with other potentially responsible
parties, any investigation, response or other corrective action relating to any
actual or threatened Release of Hazardous Materials at any property, facility or
location pursuant to any Environmental Law except for such investigation,
response or other corrective action that, individually or in the aggregate,
could not, reasonably be expected to result in a Material Adverse
Effect.

     

    (e)       All
Hazardous Materials generated, used, treated, handled or stored by any Loan
Party or any of their Subsidiaries at, or transported by or on behalf of any
Loan Party or any of their Subsidiaries to or from, any property or facility
currently or formerly owned, leased or operated by any Loan Party or any of its
Subsidiaries have been disposed of in a manner which could not reasonably be
expected to result, individually or in the aggregate, in a Material Adverse
Effect.

     

    (f)       Except
as could not reasonably be expected to result, individually or in the aggregate,
in a Material Adverse Effect, none of the Loan Parties or any of their
Subsidiaries has contractually assumed, and is not subject or a party to any
judgment, order, decree or agreement which imposes, any liability or obligation
under or relating to any Environmental Law.

     

    Section
5.10.     Taxes

     

    Except as
could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, (a) each of the Loan Parties and each of their
respective Subsidiaries has (i) timely filed all Tax returns required to be
filed and all such tax returns are true and correct, (ii) timely paid all Taxes
levied or imposed upon it or its properties (whether or not shown on a tax
return), and (iii) satisfied all of its Tax withholding obligations; (b) there
are no current, pending or threatened audits, examinations or claims with
respect to Taxes of any Loan Party or any of their respective Subsidiaries and
(c) none of the Loan Parties has ever “participated” in a “listed transaction”
within the meaning of Treasury Regulation Section 1.6011-4.

     

    
      
        
           

        

        
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    Section
5.11.     ERISA
Compliance

     

    (a)           Except
as could not, individually or in the aggregate, reasonably be expected to result
in a Material Adverse Effect, each Plan is in compliance with the applicable
provisions of ERISA, the Code and other Federal or state Laws.

     

    (b)           (i)
No ERISA Event has occurred or is reasonably expected to occur and (ii) neither
any Loan Party, any Subsidiary nor any ERISA Affiliate has engaged in a
transaction that could be subject to Section 4069 or 4212(c) of ERISA, except,
with respect to each of the foregoing clauses of this Section 5.11(b), as could
not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

     

    (c)           Except
where noncompliance could not, individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect, (i) each Foreign Plan has been
maintained in compliance with its terms and with the requirements of any and all
applicable laws, statutes, rules, regulations and orders and has been
maintained, where required, in good standing with applicable regulatory
authorities, and (ii) neither any Loan Party nor any Subsidiary has incurred any
obligation in connection with the termination of or withdrawal from any Foreign
Plan.

     

    Section
5.12.     Subsidiaries; Equity
Interests.

     

    As of the
Original Closing Date (after giving effect to any part of the Transaction that
is consummated on or prior to the Original Closing Date), no Loan Party has any
Subsidiaries other than dormant or inactive entities and those specifically
disclosed in Schedule
5.12, and all of the outstanding Equity Interests owned by the Loan
Parties (or a Subsidiary of any Loan Party) in such Subsidiaries have been
validly issued and are fully paid and all Equity Interests owned by a Loan Party
(or a Subsidiary of any Loan Party) in such Subsidiaries are owned free and
clear of all Liens except (i) those created under the Collateral Documents and
(ii) any Lien that is permitted under Section 7.01.  As of the
Original Closing Date, Schedules 1(a) and
10(a) and (b) to the Perfection
Certificate set forth the name, jurisdiction and ownership interest of each Loan
Party in each direct Domestic Subsidiary or any material Foreign Subsidiary
which is not dormant or inactive, including the percentage of such ownership,
and no such entities have any direct or indirect Material
Subsidiaries.

     

    Section
5.13.     Margin Regulations;
Investment Company Act

     

    (a)           No
Borrower is engaged nor will it 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, and no proceeds of any Borrowings will
be used for any purpose that violates Regulation U.

     

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

     

    Section
5.14.     Disclosure

     

    As of the
Original Closing Date, to the best of the Loan Parties’ knowledge, no report,
financial statement, certificate or other written information furnished by or on
behalf of any Loan Party to any Agent or any Lender in connection with the
transactions contemplated hereby and the negotiation of this Agreement or
delivered hereunder or any other Loan Document (as modified or supplemented by
other information so furnished) when taken as a whole contains any material
misstatement of fact or, as at the Original Closing Date only, omits to state
any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not materially misleading; provided that, with respect
to projected financial information and pro forma financial information, the
Borrowers represent only that such information was prepared in good faith based
upon assumptions believed to be reasonable at the time of preparation; it being
understood that such projections may vary from actual results and that such
variances may be material.

     

    
      
        
           

        

        
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    Section
5.15.     [Reserved]

     

    Section
5.16.     Anti-Terrorism
Laws

     

    (a)           To
the best knowledge of the Loan Parties organized in the United States, no such
Loan Party nor any Subsidiary thereof: (i) is, or is controlled by or is acting
on behalf of, a Restricted Party; (ii) has received funds or other property from
a Restricted Party; or (iii) is in breach of or is the subject of any action or
investigation under any Anti-Terrorism Law.

     

    (b)           Each
of the Loan Parties organized in the United States and, to the best of such Loan
Parties’ knowledge, each Subsidiary thereof has taken reasonable measures to
ensure compliance with the Anti-Terrorism Laws.

     

    Section
5.17.     Intellectual Property;
Licenses, Etc.

     

    Each of
the Loan Parties and their Subsidiaries own, license or otherwise possess the
right to use, all of the trademarks, service marks, trade names, domain names,
copyrights, patents, trade secrets, know-how, database rights, design rights and
other intellectual property rights (collectively, “IP Rights”) that are material
to the operation of their respective businesses as currently conducted, and,
without conflict with the rights of any Person, except to the extent such
conflicts could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.  To the knowledge of the Loan Parties,
the operation of the businesses as currently conducted does not infringe upon
any IP Rights held by any Person except for such infringements, individually or
in the aggregate, which could not reasonably be expected to have a Material
Adverse Effect.  No claim or litigation brought against any Loan Party
alleging the infringement or misuse of any IP Rights is pending or, to the
knowledge of the Loan Parties, threatened against any Loan Party or any of its
Subsidiaries, which could, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.

     

    Except
pursuant to licenses and other user agreements entered into by each Loan Party
in the ordinary course of business, on and as of the Original Closing Date (i)
each Loan Party owns and possesses the right to use the copyrights, patents and
trademarks identified with such Loan Party’s name on Schedule 12(a) or
12(b), as
applicable, to the Perfection Certificate, and (ii) the registrations listed on
Schedule 12(a)
and 12(b) are
valid and in full force and effect, except, in each case, to the extent failure
to own or possess such right to use or of such registrations to be valid and in
full force and effect could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.

     

    Section
5.18.     Solvency

     

    On the
Original Closing Date, the Loan Parties (taken as a whole) after giving effect
to the Transaction, are Solvent.

     

    
      
        
           

        

        
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    Section
5.19.     Use of
Proceeds

     

    The
Borrowers used the proceeds of Loans made on the Original Closing Date solely to
finance the Transaction.  The Borrowers will use the proceeds of the
Revolving Credit Loans borrowed after the Original Closing Date, Swing Line
Loans and Letters of Credit for working capital and general corporate purposes
of the Company and its Subsidiaries (including Permitted
Acquisitions).

     

    Section
5.20.     [Reserved]

     

    Section
5.21.     Security
Documents

     

    (a)           Subject
to the Legal Reservations, the Collateral Documents are or in the case of each
Collateral Document delivered pursuant to Sections 6.12 and 6.14 will, upon
execution and deliver thereof, be effective to create in favor of the Collateral
Agent for the benefit of the Secured Parties (or in favor of the relevant
Secured Parties directly, as applicable), legal, valid and enforceable Liens on,
and security interests in, the Collateral described therein to the extent
intended to be created thereby and (i) when financing statements and other
filings in appropriate form are filed in the offices specified on Schedule 7 to the
Perfection Certificate and registration achieved (if applicable), (ii) when all
appropriate filings, recordings, endorsements, notarizations, stamping,
registrations and/or notifications are made as required under applicable Law and
(iii) upon the taking of possession or control by the Collateral Agent of such
Collateral with respect to which a security interest may be perfected only by
possession or control (which possession or control shall be given to the
Collateral Agent to the extent possession or control by the Collateral Agent is
required by the Security Agreement), the Liens created by the Collateral
Documents shall constitute fully perfected Liens on, and security interests in
(to the extent intended to be created thereby), all right, title and interest of
the grantors in such Collateral, in each case subject to no Liens other than
Liens permitted hereunder.

     

    (b)           When
the Security Agreement governed by U.S. Law or a short form thereof is properly
filed in the United States Patent and Trademark Office and the United States
Copyright Office, the Liens created by such Security Agreement shall constitute
fully perfected Liens on, and security interests in, all right, title and
interest of the grantors thereunder (to the extent intended to be created
thereby) in the IP Rights to the extent that a security interest can be created
under Article 9 of the UCC and can be perfected by the filing of a financing
statement in accordance therewith, except as the enforcement thereof may be
limited by applicable bankruptcy, insolvency or similar laws affecting the
enforcement of rights of creditors generally and except to the extent that
enforcement of rights and remedies set forth therein may be limited by equitable
principles (regardless of whether enforcement is considered in a court of law or
a proceeding in equity), in each case subject to no Liens other than Liens
permitted hereunder (it being understood that subsequent recordings in the
United States Patent and Trademark Office and the United States Copyright Office
may be necessary to perfect a Lien on registered patents and copyrights acquired
by the grantors thereof after the Original Closing Date).

     

    (c)           Notwithstanding
anything herein (including this Section 5.21) or in any other Loan Document to
the contrary, no Loan Party makes any representation or warranty as to the
effects of perfection or non-perfection, the priority or the enforceability of
any pledge of or security interest (other than with respect to those pledges and
security interests made under the Laws of the jurisdiction of formation of the
applicable Foreign Subsidiary) in any Equity Interests of any Foreign
Subsidiary, or as to the rights and remedies of the Agents or any Lender with
respect thereto, under foreign Law.

     

    
      
        
           

        

        
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    Section
5.22.     Works
Council

     

    As of the
Original Closing Date, none of the Dutch Loan Parties other than Basell Benelux
B.V. has, or is required to have, a (central) works council ((centrale) ondernemingsraad)
and there is no (central) works council which under the Dutch Works Councils Act
(Wet op de
ondernemingsraden) would have the right to give advice in connection with
any Loan Document.

     

    ARTICLE
VI.

     

    Affirmative
Covenants

     

    So long
as any Lender shall have any Commitment hereunder, or any Loan or other
Obligation hereunder which is accrued and payable shall remain unpaid or
unsatisfied, or any Letter of Credit shall remain outstanding (and not cash
collateralized in accordance with Section 2.03(g)), the Company shall, and shall
cause each of its Restricted Subsidiaries to:

     

    Section
6.01.     Financial
Statements

     

    (a)           Deliver
to the Administrative Agent for prompt further distribution to each Lender, as
soon as available, but in any event within ninety (90) days (one hundred twenty
(120) days in the case of the Fiscal Year ending December 31, 2007) (or such
earlier date on which the Company is required to make any public filing of such
information) after the end of each Fiscal Year of the Company beginning with the
Fiscal Year ending December 31, 2007, a consolidated balance sheet of the
Company and its Subsidiaries as at the end of such Fiscal Year, and the related
consolidated statements of income and retained earnings and of cash flows for
such Fiscal Year, setting forth in each case in comparative form the figures for
the previous fiscal year, all reported on without material qualification
(including any “going concern” or like qualification) by an independent
registered public accounting firm of nationally recognized
standing;

     

    (b)           Deliver
to the Administrative Agent for prompt further distribution to each Lender (as
soon as available, but in any event within forty-five (45) days (sixty (60) days
in the case of the first three fiscal quarters of the Fiscal Year ending
December 31, 2008)  (or such earlier date on which the Company is
required to make any public filing of such information), after the end of each
of the first three (3) fiscal quarters of each Fiscal Year of the Company, a
consolidated balance sheet of the Company and its Subsidiaries as at the end of
such fiscal quarter, and the related consolidated statements of income and cash
flows, each for such fiscal quarter and the portion of the Fiscal Year then
ended, setting forth in each case in comparative form the figures for the
corresponding fiscal quarter of the previous Fiscal Year and the corresponding
portion of the previous Fiscal Year, all certified (subject to normal year-end
adjustments) as to fairness of presentation and consistency by a Company
Financial Officer as fairly presenting in all material respects the financial
condition, results of operations and cash flows of the Company and its
Subsidiaries in accordance with GAAP, subject only to normal year-end audit
adjustments and the absence of footnotes and (2) deliver to the Administrative
Agent for each Lender, promptly, any other information, documents and other
reports which the Company or any Subsidiary is (when registered) required to
file with the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act;
and

     

    (c)           Deliver
to the Administrative Agent for prompt further distribution to each Lender,
promptly, and in any event no later than thirty (30) days after the end of each
Fiscal Year, a consolidated budget for the following Fiscal Year prepared by the
Company for approval by its Board of Directors, the following two Fiscal Years
(including (A) a projected consolidated cashflow statement and profit and
loss account of financial position of the Company and its Subsidiaries as of the
end of each such Fiscal Year, (B) in respect of each principal operating
division of the Company and its Subsidiaries, an income statement beginning with
EBITDA by business group, and projected levels of the First Lien Senior Secured
Leverage Ratio and Consolidated Debt Service Ratio as of the end of each fiscal
quarter in the first Fiscal Year of the period presented and (C) a summary
of the material underlying assumptions applicable thereto) (collectively, the
“Projections”).

     

    
      
        
           

        

        
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    Notwithstanding
the foregoing, the obligations to deliver financial statements pursuant to
paragraphs (a) and (b) of this Section 6.01 will be satisfied with respect to
financial information of the Company by furnishing (A) the applicable financial
statements of the Company or (B) the Company’s Form 10-K or 10-Q, as applicable,
filed with the SEC or prior to or in lieu of any such requirement to file with
the SEC, such equivalent information is made public by the Company in compliance
with such corresponding obligations under any Permanent Financing of the Senior
Second Lien Interim Loans consisting of securities registered under the
Securities Act or pursuant to Rule 144A thereunder, as the case may be); provided that, with respect
to each of clauses (A) and (B), to the extent such information is in lieu of
information required to be provided under Section 6.01(a), all such materials to
be reported on without material qualification (including any “going concern” or
like qualification) by an independent registered public accounting firm of
nationally recognized standing.

     

    Documents
required to be delivered pursuant to Section 6.01 and Section 6.02(a) may
be delivered electronically and if so delivered, shall be deemed to have been
delivered on the date (i) on which the Company (or any direct or indirect parent
of the Company) posts such documents, or provides a link thereto on the website
on the Internet at the website address listed on Schedule 10.02; or
(ii) on which such documents are posted on the Company’s behalf on
IntraLinks/IntraAgency or another website identified in the notice provided
pursuant to the next succeeding paragraph of this Section 6.01, 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:  (x)
upon written request by the Administrative Agent or any Lender, the Company
shall deliver paper copies of such information to the Administrative Agent or
such Lender (as applicable) and (y) the Company shall notify (which may be by
facsimile or electronic mail) the Administrative Agent of the posting of any
such documents.  Notwithstanding anything contained herein, in every
instance the Company shall be required to provide paper copies of the Compliance
Certificates required by Section 6.02(a)(i) to the Administrative Agent; provided, however, that if such
Compliance Certificate is first delivered by electronic means, the date of such
delivery by electronic means shall constitute the date of delivery for purposes
of compliance with Section 6.02(a)(i).  Each Lender shall be
solely responsible for timely accessing posted documents or requesting delivery
of paper copies of such documents from the Administrative Agent and maintaining
its copies of such documents.

     

    The
Company hereby acknowledges that (a) the Administrative Agent and/or the
Arrangers will make available to the Lenders materials and/or information
provided by or on behalf of the Company hereunder (collectively, “Company Materials”) by posting
the Company Materials on IntraLinks or another similar electronic system (the
“Platform”) and (b)
certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not
wish to receive material non-public information with respect to the Company or
its securities) (each, a “Public
Lender”).  The Company hereby agrees that it will identify that
portion of the Company Materials that may be distributed to the Public Lenders
and that (w) all such Company Materials 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 Company Materials
“PUBLIC,” the Company shall be deemed to have authorized the Administrative
Agent, the Arrangers and the Lenders to treat such Company Materials as not
containing any material non-public information (although it may be sensitive and
proprietary) with respect to the Company or its securities for purposes of
United States federal and state securities laws (provided, however, that to the extent
such Company Materials constitute Information, they shall be treated as set
forth in Section 10.08); (y) all Company Materials marked “PUBLIC” are permitted
to be made available through a portion of the Platform designated “Public
Investor”; and (z) the Administrative Agent and the Arrangers shall be entitled
to treat any Company Materials that are not marked “PUBLIC” as being suitable
only for posting on a portion of the Platform not designated “Public
Investor.”

     

    
      
        
           

        

        
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    From and
after the date on which an entity which (i) owns directly or indirectly 100% of
the Equity Interests of the Company and (ii) does not hold any other assets
other than its investment in the Company or any intermediate holding company and
de minimis assets necessary to maintain its corporate existence (and any such
intermediate holding company shall not hold any asset other than its investment
in the Company and de minimis assets necessary to maintain its corporate
existence), guarantees on a senior unconditional basis all of the obligations of
the Company under this Agreement (the “Parent Guarantor”), all
references to the Company in this Section 6.01 shall be references to the Parent
Guarantor.

     

    Section
6.02.     Certificates; Other
Information

     

    (a)           Deliver
to the Administrative Agent for prompt further distribution to each
Lender:

     

    (i)       no
later than five (5) days after the delivery of the financial statements required
by Sections 6.01(a) and (b), a duly completed Compliance Certificate signed by a
Company Financial Officer;

     

    (ii)       together
with the delivery of each Compliance Certificate delivered in connection with
the delivery of financial statements required under Section 6.01(a) pursuant to
clause (i) above, (A) a description of each event, condition or circumstance
during the last fiscal quarter covered by such Compliance Certificate requiring
a mandatory prepayment under Section 2.05(b) and (B) a list of each Subsidiary
of the Company that identifies each Subsidiary as a Restricted or an
Unrestricted Subsidiary as of the date of delivery of such Compliance
Certificate or confirming there has been no change since the date of the last
such certificate; and

     

    (iii)     promptly,
such additional information regarding the business, legal, financial or
corporate affairs of the Loan Parties or any of their respective Subsidiaries,
or compliance with the terms of the Loan Documents, as the Administrative Agent
or any Lender through the Administrative Agent may from time to time reasonably
request.

     

    (b)           Upon
request by the Administrative Agent, representatives of senior management of the
Company reasonably agreed by the Administrative Agent and the Company shall give
a presentation in each Fiscal Year to the Lenders within 30 days after the
Company has delivered its financial statements pursuant to paragraph (a) of
Section 6.01 about the business, financial performance and prospects of the
Company and its Subsidiaries, and such other matters as any Lender may (through
the Administrative Agent) reasonably request.

     

    Section
6.03.     Notices

     

    Promptly
after a Responsible Officer of a Loan Party has obtained knowledge thereof,
notify the Administrative Agent:

     

    (a)       of
the occurrence of any Default; and

     

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

     

    
      
        
           

        

        
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    Each
notice pursuant to this Section 6.03 shall be accompanied by a written statement
of a Responsible Officer of the Company (x) that such notice is being delivered
pursuant to Section 6.03(a) or (b) (as applicable) and (y) setting forth details
of the occurrence referred to therein and stating what action the Company has
taken and proposes to take with respect thereto.

     

    Section
6.04.     Payment of
Obligations

     

    Timely
pay, discharge or otherwise satisfy as the same shall become due and payable in
the normal conduct of its business, all its obligations and liabilities in
respect of Taxes imposed upon it or upon its income or profits or in respect of
its property, except, in each case, to the extent the failure to pay or
discharge the same could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.

     

    Section
6.05.     Preservation of Existence,
Etc.

     

    Preserve,
renew and maintain in full force and effect its legal existence under the Laws
of the jurisdiction of its organization except (x) in a transaction permitted by
Section 7.04 or 7.05 and (y) any Restricted Subsidiary may merge and amalgamate,
consolidate or amalgamate with any other Restricted Subsidiary and (b) take all
reasonable action to maintain all rights, privileges (including its good
standing, where such concept exists), permits, licenses and franchises necessary
or desirable in the normal conduct of its business, except (i) to the extent
that failure to do so could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect or (ii) pursuant to a transaction
permitted by Section 7.04 or 7.05 or clause (y) of this Section
6.05.

     

    Section
6.06.     Maintenance of
Properties

     

    Except if
the failure to do so could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect, maintain, preserve and protect all
of its material properties and equipment necessary in the operation of its
business in good working order, repair and condition, ordinary wear and tear
excepted and casualty or condemnation excepted.

     

    Section
6.07.     Maintenance of
Insurance

     

    Maintain
with reputable insurance companies, insurance with respect to its assets,
properties and business against loss or damage to the extent available on
commercially reasonable terms of the kinds customarily insured against by
Persons of similar size engaged in the same or similar industry, of such types
and in such amounts (after giving effect to any self-insurance (including
captive industry insurance) reasonable and customary for similarly situated
Persons of similar size engaged in the same or similar businesses as the Company
and the Restricted Subsidiaries) as are customarily carried under similar
circumstances by such other Persons.  With respect to each Mortgaged
Property located in the U.S., obtain flood insurance in such total amount as
required by applicable Law, if at any time the area in which any improvements
are located on any Mortgaged Property is designated a “flood hazard area” in any
Flood Insurance Rate Map published by the Federal Emergency Management Agency
(or any successor agency), and, if required by law, comply with the National
Flood Insurance Program as set forth in the Flood Disaster Protection Act of
1973, as amended from time to time.

     

    Section
6.08.     Compliance with
Laws

     

    Comply in
all material respects with the requirements of all Laws and all orders, writs,
injunctions and decrees applicable to it or to its business or property, except
to the extent the failure to comply therewith could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse
Effect.

     

    
      
        
           

        

        
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    Section
6.09.     Compliance with
Environmental Laws; Environmental Reports

     

    (a)           Comply,
and cause all lessees and other Persons occupying Real Property to comply, with
all Environmental Laws and Environmental Permits applicable to its operations,
facilities and Real Property, except where failure to do so could not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect; obtain and renew all material Environmental Permits applicable
to its operations, facilities and Real Property; and conduct all responses
required by, and in accordance with, Environmental Laws; provided that neither the
Company nor any of its Subsidiaries shall be required to undertake any response
to the extent that its obligation to do so is being contested in good faith and
by proper proceedings and appropriate reserves are being maintained with respect
to such circumstances in accordance with GAAP.

     

    (b)           If
a Default caused by reason of a breach of Section 5.09 or Section 6.09(a) shall
have occurred and be continuing for more than 20 days without the Company
commencing activities reasonably likely to cure such Default in accordance with
Environmental Laws, at the written request of the Administrative Agent or the
Required Lenders through the Administrative Agent, provide to the Lenders within
45 days after such request, at the expense of the Company or the applicable
Borrower, an environmental assessment report regarding the matters which are
subject of such Default, including, where appropriate, soil and/or groundwater
sampling, prepared by environmental consulting firm and, in the form and
substance, reasonably acceptable to the Administrative Agent and indicating the
presence or absence of Hazardous Materials and the estimated cost of any
compliance or response to address them.

     

    Section
6.10.     Books and
Records

     

    Maintain
proper books of record and account, in which entries that are full, true and
correct in all material respects and which reflect all material financial
transactions and matters involving the assets and business of the Loan Parties
or a Restricted Subsidiary, as the case may be (it being understood and agreed
that certain Foreign Subsidiaries maintain individual books and records in
conformity with generally accepted accounting principles in their respective
countries of organization and that such maintenance shall not constitute a
breach of the representations, warranties or covenants hereunder).

     

    Section
6.11.     Inspection
Rights

     

    Permit
representatives and independent contractors of the Administrative Agent or the
Required Lender or, as provided in the second proviso below, any Lender to visit
and inspect any of its properties, to examine its corporate, financial and
operating records as is reasonably specified, 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 reasonable
expense of the Borrowers’ and at such reasonable times during normal business
hours, upon reasonable advance notice to the Company; provided that, excluding any
such visits and inspections during the continuation of an Event of Default, only
the Administrative Agent on behalf of the Lenders may exercise rights of the
Administrative Agent and the Lenders under this Section 6.11 and the
Administrative Agent shall not exercise such rights more often than two (2)
times during any calendar year at the Borrowers expense; provided further that when an Event of
Default exists, the Administrative Agent or any Lender (or any of their
respective representatives or independent contractors) may do any of the
foregoing at the expense of the Borrowers at any time during normal business
hours and upon reasonable advance notice.  The Administrative Agent
and the Lenders shall give the Company the opportunity to participate in any
discussions with the Company’s independent public
accountants.  Notwithstanding anything to the contrary in this Section
6.11, at all times during such visits and inspections, the Administrative Agent
or any Lender (or their respective representatives or contractors) must comply
with all applicable site regulations as the Company or its Subsidiaries or any
of their respective officers or employees may require by reasonable notice of
the same.

     

    
      
        
           

        

        
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    Section
6.12.     Additional Collateral;
Additional Guarantors

     

    (a)           Subject
to this Section 6.12 and Section 6.14(b) and the Agreed Security Principles,
with respect to any property (or material property, in respect of IP Rights)
acquired after the Original Closing Date by any Loan Party that is intended to
be subject to the Lien created by any of the Collateral Documents but is not so
subject, promptly (and in any event within 120 days after the acquisition
thereof or such later time as the Administrative Agent or the Collateral Agent,
as applicable, acting reasonably, agrees to) (i) execute and deliver to the
Administrative Agent and the Collateral Agent such amendments or supplements to
the relevant Collateral Documents or such other documents as the Administrative
Agent or the Collateral Agent shall reasonably deem necessary or advisable to
grant to the Collateral Agent, for its benefit and for the benefit of the other
Secured Parties or to the relevant Secured Parties directly, as applicable, a
Lien on such property subject to no Liens other than Liens permitted pursuant to
Section 7.01, and (ii) take all commercially reasonable actions necessary to
cause such Lien to be duly perfected to the extent required by such Collateral
Document in accordance with all applicable Law, including the filing of
financing statements in such jurisdictions as may be reasonably requested by the
Collateral Agent.  The Borrowers shall otherwise take such
commercially reasonable actions and execute and/or deliver to the Collateral
Agent such documents as the Collateral Agent shall reasonably require to confirm
the validity, perfection and priority of the Lien of the Collateral Documents on
such after-acquired properties.

     

    (b)           Subject
to the Agreed Security Principles with respect to any Person that is or becomes
a direct Subsidiary other than a Securitization Entity of a Loan Party after the
Original Closing Date, promptly (and in any event within 120 days after such
Person becomes a Subsidiary or such later time as the Administrative Agent or
the Collateral Agent, as applicable, may agree in its sole discretion) (i)
deliver to the Collateral Agent all certificates representing the Equity
Interests (to the extent certificated) of such Subsidiary owned by such Loan
Party and required to be pledged pursuant to the Collateral and Guarantee
Requirement and together with undated stock powers or other appropriate
instruments of transfer executed and delivered in blank by a duly authorized
officer of the holder(s) of such Equity Interests, and all existing intercompany
notes other than (i) held by any Securitization Entity or Basell Sales &
Marketing B.V. or (ii) which on an individual basis do not exceed €10,000,000
owing from such Subsidiary to any Loan Party and required to be pledged pursuant
to the Collateral and Guarantee Requirement, together with instruments of
transfer executed and delivered in blank by a duly authorized officer of such
Loan Party (in each case, with respect to Foreign Subsidiaries, to the extent
applicable and permitted under foreign laws, rules or regulations) or, if
necessary to perfect a Lien under applicable Law, by means of an applicable
Collateral Document, create a Lien on such Equity Interests and intercompany
notes in favor of the Collateral Agent on behalf of the Secured Parties and (ii)
cause any such new Subsidiary that is required to be a Guarantor under the
Collateral and Guarantee Requirement (A) to execute a joinder agreement
reasonably acceptable to the Collateral Agent or such comparable documentation
to become a Subsidiary Guarantor and a joinder agreement to the applicable
Collateral Documents (including the applicable Security Agreement),
substantially in the form annexed thereto, or, in the case of a Foreign
Subsidiary, execute a security agreement over substantially all of its assets to
the extent required by the Collateral and Guarantee Requirement compatible with
the Laws of such Foreign Subsidiary’s jurisdiction in form and substance
reasonably satisfactory to the Administrative Agent, and (B) to take all actions
necessary or advisable in the reasonable opinion of the Collateral Agent to
cause the Lien created by the applicable Collateral Documents (including the
Security Agreement) to be duly perfected to the extent required by such
agreement in accordance with all applicable Law, including the filing of
financing statements in such jurisdictions as may be reasonably requested by the
Collateral Agent.

     

    
      
        
           

        

        
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    (c)           Subject
to the Agreed Security Principles, in the case of a Loan Party, promptly grant
to the Collateral Agent, within 120 days of the acquisition thereof or such
longer period as the Collateral Agent may determine, in its sole discretion, a
Mortgage (or in the case of Real Property outside the U.S., other appropriate
security as the Collateral Agent may reasonably request) on each parcel of Real
Property owned in fee or otherwise with legal title or ground leased such Loan
Party as is acquired by such Loan Party after the Original Closing Date and
that, together with any improvements thereon, individually has a fair market
value of at least $25,000,000 as additional security for the Obligations (unless
the subject property is already mortgaged to a third party to the extent
permitted hereunder).

     

    (i)           
Subject to the Agreed Security Principles, in the case of a Loan Party promptly
grant to the Collateral Agent, within 120 days of the acquisition thereof or
such longer period as the Collateral Agent may determine in its sole discretion,
a Mortgage (or in the case of Real Property outside the U.S., other appropriate
security as the Collateral Agent may reasonably request) in form reasonably
satisfactory to the Administrative Agent and Collateral Agent on each pipeline
easement and other similar Real Property (except any such easement or other
similar Real Property as would be excluded from the grant set forth in Section
2.1 of the applicable Mortgage in the penultimate paragraph therein) as is
acquired by such Loan Party after the Original Closing Date as additional
security for the Obligations (unless the subject property is already mortgaged
to a third party to the extent permitted hereunder).

     

    (ii)           Such
Mortgages shall be subject to the Agreed Security Principles and the Mortgages
or instruments related thereto shall be duly recorded or filed in such manner
and in such places as are required by Law to establish, perfect, preserve and
protect the Liens in favor of the Collateral Agent and/or the Secured Parties
required to be granted pursuant to the Mortgages and all taxes, fees and other
charges payable in connection therewith shall be paid in
full.  Subject to the Agreed Security Principles, such Loan Party
shall otherwise take such commercially reasonable actions and execute and/or
deliver to the Collateral Agent such documents as the Administrative Agent or
the Collateral Agent shall reasonably require to confirm the validity,
perfection and priority of the Lien of any existing Mortgage or new Mortgage
against such after-acquired Real Property (including a Title Policy (only in the
case of Real Property located in the United States, but excluding Excluded
Easements as such term is defined in the definition of “Collateral and Guarantee
Requirement”)), a Survey and local counsel opinion (in form and substance
reasonably satisfactory to the Administrative Agent and the Collateral Agent) in
respect of such Mortgage).

     

    (d)           The
foregoing shall not require the creation or perfection of pledges of or security
interests in, or the obtaining of title insurance or surveys with respect to,
particular assets if and for so long as (i) in the reasonable judgment of the
Administrative Agent, the cost of creating or perfecting such pledges or
security interests in such assets or obtaining title insurance or surveys in
respect of such assets shall be excessive in view of the benefits to be obtained
by the Lenders therefrom or (ii) the creation or perfection of such pledges or
security interests would violate third party contracts or applicable Law
(including any Law requiring the approval or consultation of any “works council”
or similar entity before a security interest can be granted, in which case the
Borrowers shall use their commercially reasonable efforts to obtain such
approval, unless the Administrative Agent shall determine in its reasonable
judgment that such pledge or security interest shall not be required with
respect to such assets).  In addition, the foregoing will not require
actions under this Section 6.12 by a Person if and to the extent that such
action would (a) go beyond the corporate or other powers of the Person
concerned (and then only as such corporate or other power cannot be modified or
excluded to allow such action) or (b) unavoidably result in material issues of
director’s personal liability, breach of fiduciary duty or criminal
liability.  The Administrative Agent may grant extensions of time for
the perfection of security interests in or the obtaining of title insurance with
respect to particular assets (including extensions beyond the Original Closing
Date for the perfection of security interests in the assets of the Loan Parties
on such date) where it reasonably determines, in consultation with the
Borrowers’ Agent, that perfection cannot be accomplished using commercially
reasonable efforts by the time or times at which it would otherwise be required
by this Agreement or the Collateral Documents.

     

    
      
        
           

        

        
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    (e)           Notwithstanding
the foregoing provisions of this Section 6.12 or anything in this Agreement or
any other Loan Document to the contrary, Liens required to be granted from time
to time pursuant to this Section 6.12 shall be subject to the Agreed Security
Principles and exceptions and limitations set forth in the Collateral Documents
as in effect on the Original Closing Date and, to the extent appropriate in the
applicable jurisdiction, as agreed between the Collateral Agent and the
Company.  Notwithstanding the foregoing provisions of this Section
6.12 or anything in this Agreement or any other Loan Document to the contrary,
any Subsidiary of the Company that Guarantees the Senior Second Lien Debt, any
Permanent Financing or any Junior Financing shall be a Guarantor hereunder for
so long as it Guarantees such Indebtedness.

     

    Section
6.13.     ERISA

     

    Promptly
after any Loan Party or any ERISA Affiliate knows or has reason to know of the
occurrence of any of the following events that, individually or in the aggregate
(including in the aggregate such events previously disclosed or exempt from
disclosure hereunder, to the extent the liability therefor remains outstanding),
would reasonably be expected to have a Material Adverse Effect, deliver to the
Administrative Agent and each of the Lenders a certificate of a Company
Financial Officer setting forth details as to such occurrence and the action, if
any, that the Loan Party or such ERISA Affiliate is required or proposes to
take, together with any notices (required, proposed or otherwise) given to or
filed with or by the Loan Party, such ERISA Affiliate, the PBGC, a Plan
participant (other than notices relating to any individual participant’s
benefits) or the Plan administrator with respect thereto:  that a
Reportable Event has occurred; that an accumulated funding deficiency has been
incurred or an application is to be made to the Secretary of the Treasury for a
waiver or modification of the minimum funding standard (including any required
installment payments) or an extension of any amortization period under Section
412 of the Code (or Section 430 of the Code as amended by the Pension Protection
Act of 2006) with respect to a Plan; that a Plan having an Unfunded Current
Liability has been or is to be terminated, reorganized, partitioned or declared
insolvent under Title IV of ERISA (including the giving of written notice
thereof); that a Plan has an Unfunded Current Liability that has or will result
in a lien under ERISA or the Code; that proceedings will be or have been
instituted to terminate a Plan having an Unfunded Current Liability (including
the giving of written notice thereof); that a proceeding has been instituted
against a Loan Party or an ERISA Affiliate pursuant to Section 515 of ERISA to
collect a delinquent contribution to a Plan; that the PBGC has notified a Loan
Party or any ERISA Affiliate of its intention to appoint a trustee to administer
any Plan; that a Loan Party or any ERISA Affiliate has failed to make a required
installment or other payment pursuant to Section 412 of the Code with respect to
a Plan; or that a Loan Party or any ERISA Affiliate has incurred or will incur
(or has been notified in writing that it will incur) any liability (including
any contingent or secondary liability) to or on account of a Plan pursuant to
Section 409, 502(i), 502(l), 515, 4062, 4063, 4064, 4069, 4201 or 4204 of ERISA
or Section 4971 or 4975 of the Code.

     

    Section
6.14.     Further Assurances and
Post-Closing Conditions

     

    (a)           Subject
to the Agreed Security Principles, within the time periods set forth in Schedule 6.14(a)
(subject to extension by the Administrative Agent in its discretion), perform
each obligation and deliver each Collateral Document, in each case as set forth
on Schedule
6.14(a), with respect to the matters set forth therein, duly executed by
each Loan Party thereto, together with all documents and instruments required to
perfect the security interest of the Collateral Agent in and otherwise comply
with the Collateral and Guarantee Requirement with respect to the Collateral (if
any) free of any other pledges, security interests or mortgages, except Liens
permitted hereunder.

     

    
      
        
           

        

        
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    (b)           Subject
to the Agreed Security Principles, promptly upon reasonable request by the
Administrative Agent (i) correct any material defect or error that may be
discovered in the execution, acknowledgment, filing or recordation of any
Collateral Document or other document or instrument relating to any Collateral,
and (ii) do, execute, acknowledge, deliver, record, re-record, file, re-file,
register and re-register any and all such further acts, deeds, certificates,
assurances and other instruments as the Administrative Agent may reasonably
request from time to time in order to carry out more effectively the purposes of
the Collateral Documents.  If the Administrative Agent, the Collateral
Agent or the Required Lenders determine that they are required by applicable Law
to have appraisals prepared in respect of the Real Property of any Loan Party
constituting Collateral, the Borrowers’ Agent shall provide to the
Administrative Agent appraisals that satisfy the applicable requirements of the
Real Estate Appraisal Reform Amendments of FIRREA and are otherwise in form and
substance reasonably satisfactory to the Administrative Agent and the Collateral
Agent.

     

    (c)           The
U.S. Borrower agrees promptly (and in any event within 10 Business Days of such
change) to notify the Collateral Agent in writing of any change (i) in
legal name of the U.S. Borrower or any Loan Party that is a grantor under the
U.S. Security Agreement, (ii) in the identity or type of organization or
corporate structure of the Borrower domiciled in any jurisdiction of the United
States or any such Loan Party, or (iii) in the jurisdiction of organization
or organizational identification number of the Borrower domiciled in any
jurisdiction of the United States or any such Loan Party.

     

    (d)           With
respect to each Domestic Mortgaged Property identified on Schedule 1.01F
(excluding Excluded Easements), the following shall be delivered to the
Administrative Agent within thirty (30) days of delivery to the Borrowers’ Agent
(or its counsel) by the Administrative Agent (or its counsel) of a preliminary
draft of the form of Mortgage Amendment (as hereinafter defined) (or such longer
period determined by the Administrative Agent in its sole
discretion):

     

    (i)       with
respect to each Mortgage encumbering Domestic Mortgaged Property identified on
Schedule 1.01F (excluding Excluded Easements), an amendment (each, a “Mortgage
Amendment”) duly executed and acknowledged by the applicable Loan Party, and in
form for recording in the recording office where each such Mortgage was
recorded, together with such certificates, affidavits, questionnaires or returns
as shall be required in connection with the recording or filing thereof under
applicable law, in each case in form and substance reasonably satisfactory to
the Administrative Agent;

     

    (ii)      with
respect to each Mortgage Amendment, an endorsement or other modification to the
existing Title Policy relating to such Mortgaged Property assuring the
Administrative Agent that the Mortgage, as amended by the Mortgage Amendment, is
a valid and enforceable first priority lien on such  Mortgaged
Property in favor of the Administrative Agent for the benefit of the Secured
Parties free and clear of all Liens except those Liens created or permitted by
this Agreement and the Loan Documents or by the Administrative Agent, and such
endorsement or other modification shall otherwise be in form and substance
reasonably satisfactory to the Administrative Agent;

     

    (iii)     with
respect to each Mortgage Amendment, opinions of local counsel to the Loan
Parties, which opinions (x) shall be addressed to Administrative Agent and each
of the Lenders, (y) shall cover the enforceability of the applicable Mortgage as
amended by the Mortgage Amendment, and (z) shall otherwise be in form and
substance reasonably satisfactory to the Administrative Agent.

     

    
      
        
           

        

        
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    (e)           Subject
to the Agreed Security Principles, the Borrowers will obtain a Mortgage on each
Easement Instrument as listed on Schedule 1.01F (except any such Easement
Instrument  as would be excluded from the grant set forth in Section
2.1 of the applicable Mortgage in the penultimate paragraph thereof) on or
before May 27, 2008, together with all documents and instruments required to
perfect the security interest of the Collateral Agent in and otherwise comply
with the Collateral and Guarantee Requirement with respect to the Collateral,
including, but not limited to, the execution of standard flood hazard
certificates.

     

    (f)           Within
60 days of the Amendment Effective Date (or such later date determined by the
Administrative Agent in its sole discretion), the Borrowers’ Agent agrees to
provide, a copy of a resolution of LyondellBasell Industries AF SCA duly
represented by its general partner LyondellBasell AFGP S.àr.l., in turn duly
represented by its board of managers, and a copy of a resolution of the board of
managers of Basell Funding S.à r.l. ratifying the entry into this Agreement, the
amended and restated Intercreditor Agreement and the amended and restated Senior
Second Lien Interim Loan Agreement.

     

    Section
6.15.     Use of
Proceeds

     

    Use the
proceeds of the Loans only for the purposes set forth in Section
5.19.

     

    Section
6.16.     [Reserved]

     

    Section
6.17.     Know Your Customer
Requests

     

    (a)           If:

     

    (1)       there
is a Change in Law after the Original Closing Date;

     

    (2)       any
change in the status of a Loan Party or the composition of the shareholders of a
Loan Party after the Original Closing Date; or

     

    (3)       a
proposed assignment or transfer by a Lender of any of its rights and obligations
under this Agreement to a party that is not a Lender prior to such assignment or
transfer,

     

    obliges
the Administrative Agent or any Lender (or, in the case of paragraph (3) above,
any prospective new Lender) to comply with “know your customer” or similar
identification procedures in circumstances where the necessary information is
not already available to it, each Loan Party shall promptly upon the request of
the Administrative Agent, in its capacity as a Lender or on behalf of any
Lender, to the Company supply, or procure the supply of, such documentation and
other evidence as is reasonably requested by the Administrative Agent (for
itself or on behalf of any Lender, or, in the case of the event described in
paragraph (3) above, on behalf of any prospective new Lender) in order for the
Administrative Agent, such Lender or, in the case of the event described in
paragraph (3) above, any prospective new Lender to carry out and be satisfied it
has complied with all necessary “know your customer” or other similar checks
under all applicable laws and regulations pursuant to the transactions
contemplated in the Loan Documents.

     

    (b)           Following
any notification of requirement to add a Loan Party pursuant to Section 6.12, if
the joinder of such additional Guarantor obliges the Administrative Agent or any
Lender to comply with “know your customer” or similar identification procedures
in circumstances where the necessary information is not already available to it,
the Company shall promptly upon the request of the Administrative Agent (for
itself or on behalf of any Lender or any prospective new Lender) supply, or
procure the supply of, such documentation and other evidence as is reasonably
requested by the Administrative Agent (for itself or on behalf of any Lender or
any prospective new Lender) in order for the Administrative Agent or such Lender
or any prospective new Lender to carry out and be satisfied it has complied with
all necessary “know your customer” or other similar checks under all applicable
laws and regulations pursuant to the joinder of such Subsidiary to this
Agreement as an Additional Guarantor.

     

    
      
        
           

        

        
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    ARTICLE
VII.

     

    Negative
Covenants

     

    So long
as any Lender shall have any Commitment hereunder, any Loan or other Obligation
(other than Secured Hedge Agreements and Treasury Services Agreements not yet
due and payable and contingent obligations not yet accrued and payable)
hereunder which is accrued and payable shall remain unpaid or unsatisfied, or
any Letter of Credit shall remain outstanding and not cash collateralized, the
Company shall not, nor shall it permit any of its Restricted Subsidiaries to,
directly or indirectly:

     

    Section
7.01.     Liens

     

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

     

    (a)       Liens
created pursuant to any Loan Document;

     

    (b)       Liens
existing on the Original Closing Date or which are required to come into effect
as a result of existing contractual provisions (in each case, to the extent in
respect of underlying obligations exceeding $1,000,000 individually, listed on
Schedule
7.01(b)) and any reissuance, renewals or extensions thereof;

     

    (c)       Liens
for taxes, assessments or governmental charges or claims that are extinguished
within 60 days of notice of their existence, are not yet due and payable or that
are being contested in good faith by appropriate proceedings;

     

    (d)       Liens
of landlords, carriers, vendor, pipeline, warehousemen, mechanics, suppliers,
materialmen, repairmen, employees, pension plan administrators or other like
Liens arising by operation of law in the ordinary course of business of the
Company or any Restricted Subsidiary which secure amounts which are not overdue
for a period of more than 30 days or not yet subject to penalties for
non-payment or that are being contested in good faith by appropriate
proceedings;

     

    (e)       Liens
(i) arising out of pledges or deposits made in the ordinary course of business
in connection with workers’ compensation, unemployment insurance and other types
of social security or other insurance (including unemployment insurance) and
(ii) arising out of pledges and deposits in the ordinary course of business
securing liability for reimbursement or indemnification obligations with respect
to premiums and exit fees of (including to support obligations in respect of
letters of credit or bank guarantees for the benefit of) insurance carriers
providing property, casualty or liability insurance to the Company or any
Subsidiary;

     

    (f)        Liens
arising out of pledges or deposits made to secure the performance of tenders,
bids or trade or government contracts, or to secure leases, statutory or
regulatory, insurance obligations, surety, judgment or appeal bonds, completion
guarantee, surety, letters of credit, performance bonds, guarantees or other
obligations of a like nature (including those to secure health, safety and
environmental obligations) incurred in the ordinary course of business (other
than obligations for the payment of borrowed money);

     

    
      
        
           

        

        
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    (g)      zoning
restrictions of governmental authorities, easements, licenses, reservations of,
or rights of others for, licenses reservations, title defects, rights of others
for rights-of-way, utilities, sewers, electrical lines, telephone lines,
telegraph wires, restrictions, encroachments and other similar charges,
encumbrances or title defects of zoning, survey exceptions, encumbrances, or
other restrictions as to the use of real property or Liens incurred in the
ordinary course of business that do not in the aggregate materially interfere
with in any material respect the ordinary conduct of the business of the Company
and its Restricted Subsidiaries, taken as a whole;

     

    (h)      Liens
arising by reason of any judgment, decree or order of any court so long as such
Lien is adequately bonded and any appropriate legal proceedings that may have
been duly initiated for the review of such judgment, decree or order shall not
have been finally terminated or the period within which such proceedings may be
initiated shall not have expired;

     

    (i)       
(x) leases or subleases or licenses or sublicenses of Real Property or IP Rights
granted in the ordinary course of business to others that do not individually or
in the aggregate interfere in any material respect with the ordinary conduct of
the business of the Company and its Restricted Subsidiaries, taken as a whole
and (y) any interest or title of a lessor or in property subject to a lease
other than a capitalized lease;

     

    (j)        Liens
in favor of customs and revenue authorities arising as a matter of Law to secure
payment of customs duties in connection with the importation of
goods;

     

    (k)       Liens
(i) of a collection bank arising under Section 4-210 of the Uniform Commercial
Code on items in the course of collection, (ii) attaching to commodity trading
accounts or other commodities brokerage accounts incurred in the ordinary course
of business, (iii) in favor of banking or other financial institutions arising
as a matter of Law encumbering deposits (including the right of setoff) and
which are within the general parameters customary in the banking industry or
arising pursuant to such banking institutions general terms and conditions and
(iv) arising under clause 18 of the general conditions of a bank operating in
The Netherlands or Germany based on the general conditions drawn up by the
Netherlands Bankers’ Association (Nederlandse Vereniging van
Banken) and the Consumers Union (Consumentenbond) or analogous
conditions in other jurisdictions provided that where such condition is not
regularly imposed, the Loan Parties shall use all reasonable efforts to procure
a waiver of such right by the respective account bank;

     

    (l)        Liens
(i) on cash advances in favor of the seller of any property to be acquired in or
monies placed in escrow pursuant to an Investment permitted pursuant to Section
7.02 to be applied against the purchase price for such Investment, (ii) over
assets being acquired pursuant to Investments permitted by Section 7.02 pending
payment in full of the purchase price, (iii) consisting of an agreement to
Dispose of any property in a Disposition permitted under Section 7.05 and (iv)
consisting of intellectual property licenses permitted by Section
7.02(q);

     

    (m)      Liens
in favor of the Company or any of its Restricted Subsidiaries securing
Indebtedness permitted under Section 7.03(d) (other than Indebtedness owed to a
Restricted Subsidiary that is not a Loan Party);

     

    
      
        
           

        

        
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    (n)      Liens
arising out of conditional sale, title retention, consignment or similar
arrangements for sale of goods entered into by the Company or any of its
Restricted Subsidiaries in the ordinary course of business;

     

    (o)      Liens
upon specific items of inventory or other goods and proceeds of any Person
securing such Person’s obligations in respect of documentary letters of credit,
Liens on documents of title in respect of documenting letters of credit or
banker’s acceptances issues or credit for the account of such Person to
facilitate the purchase, shipment or storage of such inventory or other
goods;

     

    (p)      Liens
securing Indebtedness and other obligations under Asset Backed Credit
Facilities, Securitization Transactions and Receivables Financings; provided that any Liens in
respect of Receivables Financings which are recourse to the Company or any
Restricted Subsidiary (other than any Securitization Entity) shall be limited to
accounts receivable, inventory, the Equity Interests in, and intercompany
Indebtedness owed by, any Securitization Entity, related books and records and
the accounts and proceeds thereof together with any returned goods
therefrom;

     

    (q)      Liens
arising by reason of deposits necessary to qualify the Company or any of its
Restricted Subsidiaries to conduct business, maintain self insurance or comply
with any law and Liens securing the PBGC Settlement;

     

    (r)       Liens
securing any Capitalized Lease and Liens to secure Indebtedness (including
Capitalized Leases) permitted by clause (e) of Section 7.03 covering only the
property or assets acquired with such Indebtedness;

     

    (s)       Liens
securing obligations under Swap Contracts of the Company or any Restricted
Subsidiary permitted under Section 7.03 or any collateral for the obligations
under such Swap Contracts relate;

     

    (t)       Liens
on property of, or on Equity Interests or Indebtedness of, any Person or
attaching to any assets existing at the time such property or Person is acquired
by, merged, amalgamated with or into or consolidated with, or assets are
acquired by, the Company or any Restricted Subsidiary; provided that such Liens
(a) do not extend to or cover any property or assets of the Company or any
Restricted Subsidiary other than the property or assets acquired (other than
assets and property affixed or appurtenant thereto) or the property and assets
of the Person merged into or consolidated with the Company or Restricted
Subsidiary and (b) were created prior to, and not in connection with or in
contemplation of, such acquisition, merger, amalgamation or
consolidation;

     

    (u)      Liens
granted by Restricted Subsidiaries (other than Guarantors) in support of
Indebtedness of Restricted Subsidiaries (other than Guarantors); provided that the aggregate
amount secured by such Liens does not exceed $500,000,000 at any one time
outstanding;

     

    (v)      Liens
in respect of the Senior Second Lien Debt, any Permanent Financing or any
Permitted Refinancing;

     

    (w)     Liens
of the Company or any Restricted Subsidiary with respect to obligations that do
not exceed the greater of (i) $250,000,000 and (ii) 1% of Consolidated Net
Tangible Assets at any one time outstanding;

    
      
         

      

      
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    (x)       Liens
over shares in joint ventures or over dividends in respect thereof in any
Restricted Subsidiary acting as a special purpose vehicle with the sole purpose
to hold shares in a joint venture to secure Indebtedness or other obligations of
such joint venture or Restricted Subsidiary or Indebtedness permitted by Section
7.03(t);

     

    (y)      Liens
resulting from any Limited Recourse Stock Pledge;

     

    (z)       Liens
granted in favor of Loan Parties and Liens on any property or assets of a
Restricted Subsidiary that is not a Guarantor granted in favor of the Company, a
Restricted Subsidiary that is a Guarantor or any wholly-owned Restricted
Subsidiary;

     

    (aa)     Liens
securing Indebtedness incurred to modify, refinance, defease, refund, extend,
renew or replace Indebtedness that has been secured by a Lien permitted by this
Agreement; provided
that (a) such new Lien shall be limited to all or part of the same property
and assets that secured or, under the written agreements pursuant to which the
original Lien arose, could secure the original Lien plus improvements and
accessions to, such property or proceeds or distributions thereof); and
(b) the Indebtedness secured by such Lien at such time is not increased to
any amount greater than the sum of (i) the outstanding principal amount or,
if greater, committed amount of the Indebtedness at the time the original Lien
became a Lien permitted under this Section 7.01 and (ii) an amount
necessary to pay any fees and expenses, including prepayment premiums,
associated hedging break costs and premiums or replacement hedges, related to
such refinancing, refunding, extension, renewal or replacement;

     

    (bb)    any
extension, amendment, renewal or replacement, in whole or in part, of any Lien
described in Sections 7.01(b), (t) and (v); provided that any such
extension, renewal or replacement shall be no more restrictive in any material
respect than the Lien so extended, amended, renewed or replaced and shall not
extend to any additional property or assets; and

     

    (cc)     Liens
arising from precautionary Uniform Commercial Code financing statement filings;
and

     

    (dd)    any
netting or set-off arrangements entered into by the Company or any Restricted
Subsidiary in the ordinary course of its banking arrangements (including, for
the avoidance of doubt, cash pooling arrangements) for the purposes of netting
debit and credit balances of the Company or any Restricted Subsidiary, including
pursuant to any Treasury Services Agreement; and

     

    (ee)     Liens
over cash deposits deposited with the trustees in connection with the purchase
of certain of the Existing Notes.

     

    Notwithstanding
the foregoing, no consensual Liens shall exist on Equity Interests that
constitute Collateral other than pursuant to clause (a) or (t) above or as
permitted in the Intercreditor Agreements.

     

    
      Section
7.02.     Investments

    

     

    
    

    Make or
hold any Investments, except:

     

    (a)       Investments
in cash or Cash Equivalents;

     

    (b)      loans
and advances to employees, directors and officers of the Company and its
Subsidiaries (i) required by applicable employment laws or (ii) otherwise in the
ordinary course of business for travel, business, related entertainment,
relocation, as part of a recruitment or retention plan and related expenses in
an aggregate principal amount outstanding not to exceed
$10,000,000;

     

    
      
        
           

        

        
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    (c)      Investments
(i) by the Company or any Restricted Subsidiary in any Loan Party or any Person
that will, substantially contemporaneously with the making of the relevant
Investment, become a Loan Party other than the Company, (ii) by any Restricted
Subsidiary that is not a Loan Party in any other Restricted Subsidiary that is
not at the time of such Investment a Loan Party, (iii) by the Company or any of
its Restricted Subsidiaries (A) in any Subsidiary, constituting an exchange of
Equity Interests of such Subsidiary for Indebtedness of such Subsidiary or
(B) constituting Guarantees of Indebtedness or other monetary obligations
of Subsidiaries owing to the Company or any of its Restricted Subsidiaries and
(iv) Investments by Basell Finance in Restricted Subsidiaries made in the
ordinary course of business in connection with the cash management operations of
the Company and its Restricted Subsidiaries; provided that, in the case of
this clause (iv), any such Investments by Basell Finance in Restricted
Subsidiaries who are not Loan Parties shall be in the form of an intercompany
loan or intercompany account agreement pledged as Collateral pursuant to
applicable Security Agreement;

     

    (d)      Investments
in the Company by any Restricted Subsidiary of the Company;

     

    (e)      (i)
Investments existing on the Original Closing Date, (ii) Investments contemplated
on the Original Closing Date and set forth on Schedule 7.02(e), and
(iii) any modification, replacement, renewal, reinvestment or extension of any
Investment set forth on Schedule 7.02(e) that
does not increase the aggregate amount thereof;

     

    (f)       Swap
Contracts entered into in the ordinary course of business and otherwise
permitted under this Agreement;

     

    (g)      any
acquisition of all or substantially all the assets of, or all the Equity
Interests (other than directors’ qualifying shares) in, a Person or division or
line of business of a Person to the extent (A) such acquisition is effected by a
contribution to capital not constituting Disqualified Equity Interests, (B) the
consideration paid is settled by the issuance or with the proceeds of the
issuance of Qualified Equity Interests of the Company or Parent or any Holding
Company of Parent, or (C) immediately after giving effect thereto: (i) no
Default shall have occurred and be continuing or would result therefrom; (ii)
the acquired entity, assets, division or line of business shall be in a
Permitted Business; (iii) after giving effect to such acquisition, the Company
and its Restricted Subsidiaries would be in Pro Forma Compliance with Sections
7.11(a) and (b); and (iv) with respect to such Investments by Loan Parties in
assets that are not (or do not be or become) owned by a Loan Party in Persons
that are not or do not become Loan Parties within 90 days of consummation of the
acquisition (1) such Person shall not be designated an Unrestricted Subsidiary
within 12 months of such acquisition and (2) the aggregate consideration paid in
such Investments pursuant to this clause (iv) shall not exceed $1,000,000,000
(net of any capital distribution in respect of any such Investment); provided that of such
$1,000,000,000, at least $500,000,000 must be funded with the proceeds of
Incremental Term Loans (any such acquisition, a “Permitted
Acquisition”);

     

    (h)      loans
and advances to the Company and any other direct or indirect parent of a
Restricted Subsidiary, in lieu of, and not in excess of the amount of (after
giving effect to any other loans, advances or Restricted Payments in respect
thereof), Restricted Payments to the extent permitted to be made to such parent
in accordance with Section 7.06; provided that all such loans
and advances shall be deemed a Restricted Payment for the purposes of Section
7.06;

    
      
         

      

      
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    (i)       Investments
(including Investments in securities) received pursuant to any plan of
reorganization or similar arrangement upon the bankruptcy or insolvency of any
debtors of the Company or its Restricted Subsidiaries or received in settlement
of debts created in the ordinary course of business and owing to the Company or
a Restricted Subsidiary or in satisfaction of judgments or in settlement of any
litigation or arbitration;

     

    (j)       purchase
of shares of Royal Dutch Shell plc and BASF AG required to satisfy Basell
Holdings’ obligations under its stock option plans as such plans and stock
appreciation rights were in effect on the Original Closing Date;

     

    (k)      if
the Applicable Amount Availability Condition shall be met, other Investments in
an aggregate amount outstanding pursuant to this clause (k) (valued at the time
of the making thereof, and without giving effect to any write-downs or
write-offs thereof) not to exceed the portion, if any, of the Applicable Amount
on the date of such election that the Borrowers’ Agent elects to apply to this
clause (k), such election to be specified in a written notice of a Company
Financial Officer calculating in reasonable detail the Applicable Amount
immediately prior to such election and specifying the amount thereof elected to
be so applied;

     

    (l)       Investments
by the Company or a Wholly Owned Subsidiary of the Company in a Securitization
Entity or any Investment by a Securitization Entity in any other Person in
connection with a Securitization Transaction; provided that any Investment
in a Securitization Entity is in the form of a purchase money note or an equity
interest;

     

    (m)     Investments
held by any Person (other than an Affiliate of such Person) that becomes a
Restricted Subsidiary; provided that such
Investments were not acquired in contemplation of the acquisition of such
Person;

     

    (n)      Investments
in Subsidiaries and Permitted Joint Ventures not to exceed $500,000,000 plus

     

    (i)          
the aggregate net after-tax amount returned in cash on or with respect to any
Investments made in Unrestricted Subsidiaries and Permitted Joint Ventures
whether through interest payments, principal payments, dividends or other
distributions or payments on account of such Investment,

     

    (ii)           the
net after-tax cash proceeds received by the Company or any Restricted Subsidiary
from the disposition of all or any portion of such Investments (other than to a
Restricted Subsidiary),

     

    (iii)          upon
redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary, the fair
market value of such Subsidiary; and

     

    (iv)          Investments
in Equity Interests of Specified Joint Ventures in an amount not to exceed
$20,000,000;

     

    provided, however, that the net
after-tax amount has not been included in Consolidated Net Income for the
purpose of calculating the Applicable Amount;

     

    (o)      Investments
in a Permitted Business having an aggregate value, taken together with all other
Investments made pursuant to this clause (o) that are at that time outstanding,
not to exceed $250,000,000 (with the value of each such Investment being
measured at the time made and without giving effect to subsequent changes in
value);

     

    
      
        
           

        

        
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    (p)      payments
to any direct or indirect parent of the Company for the purposes described in
Section 7.06(n) which, when aggregated with the payment made under Section
7.06(l), shall not exceed €1,500,000 or the equivalent Dollar Amount in any
Fiscal Year;

     

    (q)      Investments
through the licensing contribution of technology in a Person that is or will be
as a result of such Investment a Permitted Joint Venture, or Investments through
the licensing, contribution or transactions that economically result in a
contribution in kind of intellectual property pursuant to joint venture
arrangements, in each case in the ordinary course of business;

     

    (r)       Guarantees
of Indebtedness to the extent such Guarantee is permitted under Section
7.03;

     

    (s)       Investments
received by the Company or its Restricted Subsidiaries as consideration for a
Disposition pursuant to Section 7.05(c), (j), (l) or (n);

     

    (t)       Limited
Recourse Stock Pledges; and

     

    (u)      any
Indebtedness of the Company owing to any of its Subsidiaries incurred in
connection with Standard Securitization Undertakings or Receivables Financing
which constitute Standard Securitization Undertakings, to the extent permitted
and permitted not to be subordinated pursuant to the Intercreditor Agreement,
the purchase of accounts receivable and related assets by the Company from any
such Subsidiary which assets are subsequently conveyed by the Company to a
Securitization Entity in a Securitization Transaction.

     

    Notwithstanding
the foregoing, no Investments shall be made in any member of the Millennium
Holdings Group other than Investments (x) outstanding on the Original Closing
Date and set forth on Schedule 7.02(e),
(y) made pursuant to Section 7.02(k) or Section 7.06(d), in each case for the
purpose of paying final judgments or settlements or orders for the payment of
money or for the purpose of paying costs and expenses associated with litigation
and claims under related insurance policies, and (z) in respect of environmental
remediation capital expenditures or for the purpose of paying costs and expenses
associated with litigation and claims under related insurance
policies.

     

    Section
7.03.     Indebtedness

     

    
    

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

     

    (a)       Indebtedness
of any Loan Party under the Loan Documents or any refinancings
thereof;

     

    (b)       Indebtedness
existing or outstanding on the Original Closing Date and, to the extent such
Indebtedness represents Financial Indebtedness in excess of $1,000,000 on an
individual basis or Indebtedness (which is not Financial Indebtedness) in excess
of $10,000,000 on an individual basis, listed on Schedule 7.03(b) and
any Permitted Refinancing thereof as reduced by the amount of any prepayments of
such Indebtedness with the proceeds of Dispositions (which are accompanied by a
corresponding permanent commitment reduction in any revolving credit facility)
and  intercompany Indebtedness outstanding on the Original Closing Date and
any refinancing thereof;

     

    
      
        
           

        

        
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    (c)      
Guarantees by the Company and any Restricted Subsidiary in respect of
Indebtedness of the Company or any Restricted Subsidiary otherwise permitted
hereunder; provided
that (A) no Guarantee of any Indebtedness other than the Obligations shall be
permitted unless such guaranteeing party shall have also provided a Guarantee of
the Obligations on the terms set forth herein and (B) if the Indebtedness being
Guaranteed is subordinated to the Obligations, such Guarantee shall be
subordinated to the Guarantee of the Obligations on terms at least as favorable
to the Lenders as those contained in the subordination of such
Indebtedness;

     

    (d)      Indebtedness
of the Company or any Restricted Subsidiary owing to the Company or any
Restricted Subsidiary for so long as such Indebtedness is held by the Company or
a Restricted Subsidiary, in each case subject to no Lien held by a Person other
than the Company or a Restricted Subsidiary (other than the pledge of
intercompany notes hereunder); provided that any such
intercompany Indebtedness owing (i) by a Loan Party to a Restricted Subsidiary
that is not a Loan Party shall be subordinated to the Loans or Guarantees, as
applicable, to the extent required by the terms of the Intercreditor Agreement
and (ii) by a Restricted Subsidiary that is not a Loan Party to a Loan Party
shall be intercompany loan from Basell Finance governed by the terms of the
Intercompany Account Agreement;

     

    (e)       Indebtedness
of the Company or any Subsidiary of the Company incurred in the ordinary course
of business not to exceed the greater of (i) $200,000,000 in the aggregate and
(ii) 0.8% of Consolidated Net Tangible Assets at the date of incurrence, in each
case, at any one time outstanding and

     

    (1)           representing
Capitalized Leases or;

     

    (2)           constituting
Indebtedness incurred to finance the acquisition of, or cost of design,
construction, installation, repair, addition to or improvement of, property or
assets of the Company or any Restricted Subsidiary used in the ordinary course
of business of the Company or any Restricted Subsidiary; provided, however, that such
Indebtedness shall not exceed the cost of such property or assets or repair or
improvement thereof and shall not be secured by any property or assets of the
Company or any Restricted Subsidiary other than the property and assets so
acquired;

     

    (f)       Swap
Contracts that are incurred for the purpose of (i) fixing or hedging interest
rate or currency risk with respect to any fixed or floating rate Indebtedness
permitted under this Agreement or any receivable or liability the payment of
which is determined by reference to a foreign currency; provided that the notional
principal amount of any such Swap Contract does not exceed the principal amount
of the Indebtedness to which such Swap Contract relates or (ii) managing
fluctuations in the price or cost of raw materials, emission rights,
manufactured products or related commodities or (iii) hedging the potential
exposure in respect of certain executives’ and employees’ options over, or stock
appreciation rights in relation to shares of Royal Dutch Shell plc and BASF
AG; provided that, in
each case, such obligations are entered into in the ordinary course of business
to hedge or mitigate risks to which the Company or any of its Restricted
Subsidiaries are exposed in the conduct of its business or the management of its
liabilities;

     

    (g)      Indebtedness
under the Senior Second Lien Debt, any Permanent Financing and the Existing
Notes, the Guarantees thereof and any Permitted Refinancing
thereof;

     

    (h)      Indebtedness
arising from agreements of the Company or a Subsidiary providing for
indemnification, adjustment of purchase price, earn out or similar obligations,
in each case, incurred in connection with the disposition or acquisition of any
business, assets or Subsidiary, other than guarantees of Indebtedness incurred
by any Person acquiring all or any portion of such business, assets or
Subsidiary for the purpose of financing such acquisition; provided that the maximum
aggregate liability in respect of all such Indebtedness shall at no time exceed
the gross proceeds actually received by the Company and the Subsidiary in
connection with such disposition except to the extent the Company or relevant
Subsidiary has a liability in respect of such business, asset or subsidiary
before (and not created in contemplation of) such disposition;

     

    
      
        
           

        

        
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    (i)        Indebtedness
under any Treasury Services Agreement;

     

    (j)        any
Indebtedness of the Company owing to any of its Subsidiaries incurred in
connection with Standard Securitization Undertakings or Receivables Financings
which constitute Standard Securitization Undertakings, to the extent permitted
and permitted not to be subordinated pursuant to the Intercreditor Agreement,
the purchase of accounts receivable and related assets by the Company from any
such Subsidiary which assets are subsequently conveyed by the Company to a
Securitization Entity in a Securitization Transaction; and

     

    (k)       Indebtedness
consisting of obligations of the Company and the Restricted Subsidiaries under
deferred compensation or other similar arrangements incurred by such Person in
connection with the Transaction and any acquisition, Investment, or Disposition
expressly permitted hereunder;

     

    (l)        Indebtedness
of the Company or any of its Restricted Subsidiaries, in an aggregate principal
amount not to exceed the greater of (i) 1,000,000,000 and (ii) 4% of
Consolidated Net Tangible Assets at the date of incurrence, in each case, at any
time outstanding;

     

    (m)      Indebtedness
of the Company or any of its Restricted Subsidiaries represented by letters of
credit, bank guarantees, bankers’ acceptances and warehouse receipts for the
account of the Company or such Restricted Subsidiary or similar instruments, as
the case may be, in order to provide security for workers’ compensation or
environmental claims, payment obligations in connection with self-insurance or
similar requirements in the ordinary course of business;

     

    (n)       obligations
in respect of, tender, bid, judgment, appeal, performance or governmental
contract bonds and completion guarantees, surety, standby letters of credit and
warranty and contractual service obligations of a like nature, trade letters of
credit and documentary letters of credit and similar bonds or guarantees
provided by the Company or any Subsidiary of the Company in the ordinary course
of business;

     

    (o)       (i)
the incurrence by the Company or a Restricted Subsidiary of Indebtedness
pursuant to the ABF Inventory Facility or any other inventory based facility
described in the definition of “Asset Backed Credit Facility” only and in an
aggregate principal amount not to exceed, in the aggregate for all such
Indebtedness, $2,100,000,000 and (ii) the incurrence of any Receivables
Financing permitted hereunder that is not recourse to the Company or any
Subsidiary of the Company (except for Standard Securitization
Undertakings);

     

    (p)       Indebtedness
of the Company or a Restricted Subsidiary to any of its subsidiaries incurred in
connection with the purchase of accounts receivable and related assets by the
Company or such Restricted Subsidiary from any such Subsidiary which assets are
subsequently conveyed by the Company or such Restricted Subsidiary to a
Securitization Entity in a Securitization Transaction;

     

    
      
        
           

        

        
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    (q)      Guarantees
by the Company or a Restricted Subsidiary of Indebtedness incurred by Permitted
Joint Ventures or Unrestricted Subsidiaries not to exceed the greater of (i)
$250,000,000 in the aggregate and (ii) 1% of Consolidated Net Tangible
Assets at the date of incurrence, in each case, at any one time
outstanding;

     

    (r)       (i)
other Indebtedness of the Company or any Guarantor which may be secured by a
Lien to the extent permitted under Section 7.01; provided that, (x) both
immediately prior to and after giving effect thereto on a Pro Forma Basis, no
Default shall exist or result therefrom and (y) the Consolidated Fixed Charge
Coverage Ratio of the Company and its Restricted Subsidiaries (calculated on a
Pro Forma Basis after giving effect to the incurrence of such Indebtedness) for
the most recently ended four fiscal quarters for which financial statements are
available immediately preceding the date on which such Indebtedness is incurred
would have been at least 2.00 to 1.00 and (ii) any Permitted Refinancings
thereof;

     

    (s)       Indebtedness
of a Person existing at the time that Person becomes a Restricted Subsidiary or
assumed in connection with an acquisition by the Company or a Restricted
Subsidiary or Indebtedness attaching to assets acquired in a acquisition, and,
in each case, not incurred in connection with or in anticipation of such
acquisitions; provided
that the holders of any such Indebtedness do not, at any time, have direct or
indirect recourse to any property or assets of the Company or any Restricted
Subsidiary other than the property or assets of such acquired Person and its
Subsidiaries; provided
further, that on the date of such acquisition and after giving pro forma effect thereto,
either (i) the Company would have been able to incur at least $1.00 of
additional Indebtedness pursuant to Section 7.03(r) or (ii) the
Consolidated Fixed Charge Coverage Ratio would be greater than or equal to the
Consolidated Fixed Charge Coverage Ratio immediately prior to giving pro forma effect to such
acquisition, in each case, together with any Permitted Refinancing
thereof;

     

    (t)       Indebtedness
of the Company or a Restricted Subsidiary (each, a “JV Investor”) the purpose of
which is to finance a Permitted Joint Venture or an investment therein; provided that at all times
(i) the creditors under the relevant facility have no direct or indirect
recourse to the Company or any Restricted Subsidiary other than such JV Investor
and (ii) the only direct or indirect recourse those creditors have to such JV
Investor is limited to the proceeds (if any) of dividends received by such JV
Investor in respect of such JV Investor’s investment in that Permitted Joint
Venture;

     

    (u)       Indebtedness
consisting of take-or-pay obligations contained in supply arrangements, in each
case, in the ordinary course of business; and

     

    (v)       Indebtedness
arising from the honoring by a bank or other financial institution of a check or
draft or similar instrument drawn against insufficient funds, overdrafts and
money market lines in the ordinary course of business.

     

    Notwithstanding
the foregoing, Indebtedness incurred by Restricted Subsidiaries of the Company
that are not Guarantors under clauses (e), (l), (o)(i), (q), (r) and (s) of this
Section 7.03 may not exceed $500,000,000 in the aggregate at any one time
outstanding.

     

    
      Section
7.04.     Fundamental
Changes

    

     

    
    

    Merge,
amalgamate, dissolve, liquidate, consolidate with or into another Person, or
Dispose of (whether in one transaction or in a series of related transactions)
all or substantially all of its assets (whether now owned or hereafter acquired)
to or in favor of any Person (other than as part of the Transaction), except
that:

     

    
      
        
           

        

        
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    (a)       any
Restricted Subsidiary (other than a Borrower) may merge or
amalgamate  with the Company or one or more Restricted Subsidiaries;
provided that when any
Person that is a Loan Party is merging with a Restricted Subsidiary, a Loan
Party shall be the continuing or surviving Person or such Restricted Subsidiary
shall become a Loan Party under the terms hereunder;

     

    (b)       any
Restricted Subsidiary (other than a Borrower) may Dispose of all or
substantially all of its assets (upon voluntary liquidation or otherwise) to the
Company or to another Restricted Subsidiary; provided that if the
transferor in such a transaction is a Guarantor, then (i) the transferee must be
a Loan Party or become a Loan Party or (ii) to the extent constituting an
Investment, such Investment must be a permitted Investment in or Indebtedness of
a Restricted Subsidiary which is not a Loan Party in accordance with Sections
7.02 (other than Section 7.02(e)) and 7.03, respectively; and

     

    (c)       so
long as no Default exists or would result therefrom, the Company or any Borrower
may merge, consolidate or amalgamate  with any other Person; provided that (i) the Company
or such Borrower, as the case may be, shall be the continuing or surviving
corporation or (ii) if the Person formed by or surviving any such merger,
amalgamation or consolidation is not the Company or such Borrower (any such
Person, the “Successor
Company” or the “Successor Borrower,” as the
case may be), (A) the Successor Company or the Successor Borrower, as the case
may be, shall be an entity in the same corporate form organized or existing
under the laws of the United States, any state thereof, the District of Columbia
or any territory thereof, or, in the case of the Company or a Borrower organized
outside the United States, under the laws of such non-United States jurisdiction
(or in the case of the Company or a Borrower organized under the Laws of
Luxembourg, the Laws of the Netherlands), (B) the Successor Company or the
Successor Borrower, as the case may be, shall expressly assume all the
obligations of the Company or such Borrower under this Agreement and the other
Loan Documents to which the Company or such Borrower is a party pursuant to a
supplement hereto or thereto in form reasonably satisfactory to the
Administrative Agent, (C) each Guarantor, unless it is the other party to such
merger, amalgamation or consolidation, shall have confirmed that its Guarantee
shall apply to the Successor Company’s obligations or the Successor Borrower’s
obligations under the Loan Documents, (D) each Guarantor, unless it is the other
party to such merger, amalgamation or consolidation, shall have by a supplement
to the Security Agreement and other applicable Collateral Documents confirmed
that its obligations thereunder shall apply to the Successor Company’s
obligations or the Successor Borrower’s obligations under the Loan Documents,
(E) each mortgagor of a Mortgaged Property, unless it is the other party to such
merger, amalgamation or consolidation, shall have by an amendment to or
restatement of the applicable Mortgage confirmed that its obligations thereunder
shall apply to the Successor Company’s obligations or the Successor Borrower’s
obligations under the Loan Documents, (F) after giving effect to such
transaction and the use of any proceeds therefrom, the Company would have the
ability to incur (i) an additional $1.00 of Indebtedness under Section 7.03(r)
or (ii) the Consolidated Fixed Charge Coverage Ratio at the time of such
transaction and after giving pro forma effect thereto as if such transaction had
occurred at the beginning of the applicable four-quarter period will be equal to
or greater than it was immediately before such transaction and (G) the Company
shall have delivered to the Administrative Agent a certificate of a Company
Financial Officer and an opinion of counsel, each stating that such merger,
amalgamation or consolidation and such supplement to this Agreement or any
Collateral Document comply with this Agreement; provided further that if the foregoing
are satisfied, the Successor Company or the Successor Borrower, as the case may
be, will succeed to, and be substituted for, the Company or such Borrower under
this Agreement; provided further that neither
Millennium Chemicals Inc. nor Millennium Holdings LLC nor any of their
respective subsidiaries as of the Original Closing Date may be merged with or
into the Company or any other Restricted Subsidiary (other than Millennium
Chemicals Inc., Millennium Holdings LLC or any of their respective
subsidiaries).

     

    
      
        
           

        

        
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    Section
7.05.     Dispositions

     

    Make any
Disposition or enter into any agreement to make any Disposition (other than as
part of or in connection with the Transaction), except:

     

    (a)      Dispositions
of obsolete, redundant, surplus or worn out property, whether now owned or
hereafter acquired, in the ordinary course of business and Dispositions of
property no longer used or useful in the conduct of the business of the Company
or any of its Restricted Subsidiaries;

     

    (b)      Dispositions
of inventory in the ordinary course of business;

     

    (c)      Dispositions
of property to the extent that (i) such property is exchanged for credit against
the purchase price of similar replacement property or (ii) the proceeds of such
Disposition are promptly applied to the purchase price of such replacement
property;

     

    (d)      Dispositions
of property to the Company or any Restricted Subsidiary; provided that if the
transferor of such property is a Loan Party, (i) the transferee thereof must be
a Loan Party or (ii) if such transaction constitutes an Investment, such
transaction is permitted under Section 7.02;

     

    (e)      Dispositions
permitted by Sections 7.04 and 7.06 and Liens permitted by Section
7.01;

     

    (f)       Dispositions
of property pursuant to sale-leaseback transactions; provided that the fair market
value of all property so Disposed of after the Original Closing Date shall not
exceed $250,000,000;

     

    (g)      Dispositions
of cash and Cash Equivalents;

     

    (h)      leases,
subleases, licenses or sublicenses (including the provision of software under an
open source license), in each case in the ordinary course of business and which
do not materially interfere with the business of the Company and the Restricted
Subsidiaries;

     

    (i)        transfers
of property as a result of Casualty Events;

     

    (j)        Dispositions
of property not otherwise permitted under this Section 7.05 the proceeds (net of
costs associated with such Disposition) of which do not to exceed $1,000,000,000
in any transaction or series of related transactions in the aggregate; provided that (i) at the time
of such Disposition, no Default shall exist or would result from such
Disposition, (ii) with respect to any Disposition pursuant to this clause (j)
for a purchase price in excess of $50,000,000, the Company or any of its
Restricted Subsidiaries shall receive not less than 75% of such consideration in
the form of cash or Cash Equivalents (in each case, free and clear of all Liens
at the time received); provided for purposes of this
clause (ii) any liabilities (as shown on the Company’s most recent balance sheet
provided hereunder or in the footnotes thereto) of the Company or such
Restricted Subsidiary, other than liabilities that are by their terms
subordinated to the payment in cash of the Obligations, that are assumed by the
transferee with respect to the applicable Disposition and for which the Company
and all of the Restricted Subsidiaries shall have been validly released by all
applicable creditors in writing shall be deemed to be cash, and (iii) the Net
Proceeds shall be used to prepay Loans to the extent required by Section
2.05(b)(ii);

     

    
      
        
           

        

        
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    (k)       Dispositions
listed in Schedule
7.05(k);

     

    (l)        Dispositions
of inventory and accounts receivable in connection with Receivables Financings,
Securitization Transactions or the Asset Backed Credit Facility;

     

    (m)      any
swap of assets in exchange for services or other assets in the ordinary course
of business of comparable or greater value or usefulness to the business of the
Company and its Subsidiaries as a whole, as determined in good faith by the
management of the Company; and

     

    (n)       Dispositions
pursuant to buy-sell arrangements or similar agreements between Lyondell China
Holdings Limited of Ningbo ZRCC and Lyondell Chemical Company Ltd;

     

    provided that any Disposition
of any property pursuant to this Section 7.05 (except pursuant to Sections
7.05(e) and (i) and except for Dispositions from a Loan Party to any other Loan
Party) shall be for no less than the fair market value of such property at the
time of such Disposition.  To the extent any Collateral is Disposed of
as expressly permitted by this Section 7.05 to any Person other than a Loan
Party, such Collateral shall be sold free and clear of the Liens created by the
Loan Documents, and the Administrative Agent or the Collateral Agent, as
applicable, shall be authorized to take any actions deemed appropriate in order
to effect the foregoing.

     

    Section
7.06.     Restricted
Payments

     

    Declare
or make, directly or indirectly, any Restricted Payment, except:

     

    (a)       each
Restricted Subsidiary may make Restricted Payments to the Company and other
Restricted Subsidiaries (and, in the case of a Restricted Payment by a
non-Wholly Owned Restricted Subsidiary, to the Company and any other Restricted
Subsidiary and to each other owner of Equity Interests of such Restricted
Subsidiary based on their relative ownership interests of the relevant class of
Equity Interests);

     

    (b)       the
Company and each Restricted Subsidiary may declare and make dividend payments or
other Restricted Payments payable solely in the Equity Interests (other than
Disqualified Equity Interests not otherwise permitted by Section 7.03) of such
Person;

     

    (c)       the
payment of any dividend or consummation of any irrevocable redemption within
60 days after the date of declaration of such dividend or the giving of a
redemption notice if the dividend or redemption would have been permitted on the
date of declaration or giving of notice;

     

    (d)       any
Restricted Payments, either (i) solely in exchange for shares of Qualified
Equity Interests of the Company or (ii) if no Default or Event of Default shall
have occurred and be continuing, through the application of net cash proceeds of
a substantially concurrent Equity Offering (other than to a subsidiary of the
Company) or capital contribution received by the Company;

     

    
      
        
           

        

        
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    (e)       to
the extent constituting Restricted Payments, the Company  and its
Restricted Subsidiaries may enter into and consummate the Acquisition and
transactions expressly permitted by any provision of Section 7.04;

     

    (f)       cash
repurchases of Equity Interests in the Company or any Restricted Subsidiary
deemed to occur upon exercise of stock options or warrants if such Equity
Interests represent a portion of the exercise price of such options or
warrants;

     

    (g)       beginning
on August 1, 2010, so long as no Default or Event of Default shall have occurred
and be continuing or would be caused thereby, repurchases by the Company or a
Restricted Subsidiary of, or declarations and payments of dividends to a direct
or indirect parent of the Company or a Restricted Subsidiary to permit
repurchases by such direct or indirect parent of, Equity Interests of the
Company or a Restricted Subsidiary or such parent from employees, former
employees, directors or former directors of the Company or a Restricted
Subsidiary or any of its Subsidiaries (or permitted transferees of such Persons)
or their authorized representatives upon the death, disability or termination of
employment of such employees or directors, in an aggregate amount for all
periods not to exceed 2.0% of the capital stock of the Company from time to time
at fair market value at the date of such repurchase

     

    (h)       Restricted
Payments to any direct or indirect parent company of the Company for legal,
audit, tax and other expenses directly relating to the administration of that
parent company (or any of its parent companies) including customary compensation
payable to that Person’s directors and employees, not to exceed €1,500,000 or
the equivalent Dollar Amount in any Fiscal Year;

     

    (i)        cash
payments in lieu of issuing fractional shares pursuant to the exercise or
conversion of any exercisable or convertible securities;

     

    (j)        payments
or distributions to dissenting shareholders pursuant to applicable Law in
connection with or in contemplation of, any acquisition, merger, amalgamation,
consolidation or transfer of assets that complies with Section
7.04;

     

    (k)       payments
of dividends on Disqualified Equity Interests issued in accordance with Section
7.03;

     

    (l)        directors’
fees (including non-executive directors of the Company) or if the Company is a
partnership, directors’ fees of the general partner of the Company, in an amount
not to exceed $1,500,000 per year;

     

    (m)      so
long as no Default or Event of Default shall have occurred and be continuing or
would be caused thereby, Restricted Payments in respect of sums payable
(including payment of fees) pursuant to the Management Agreement in an aggregate
amount not to exceed (x) $25,000,000 in respect of any Fiscal Year in which
Consolidated EBITDA is less than $6,000,000,000, or (y) $30,000,000 in respect
of any Fiscal Year in which Consolidated EBITDA exceeds
$6,000,000,000;

     

    (n)      so
long as no Default or Event of Default shall have occurred and be continuing or
would be caused thereby,

     

    (i)       Restricted
Payments by the Company in an amount not to exceed (x) prior to Listing,
$50,000,000 per annum and $200,000,000 in the aggregate, plus (y) at any time,
if, the Applicable Amount Availability Condition shall be met, other
Restricted Payments in an aggregate amount pursuant to this clause (n) not to
exceed the portion, if any, of the Applicable Amount on the date of such
election that the Borrowers’ Agent elects to apply pursuant to this clause (n),
such election to be specified in a written notice of a Company Financial Officer
calculating in reasonable detail the amount of Applicable Amount immediately
prior to such election and the amount thereof elected to be so applied,
and

     

    
      
        
           

        

        
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    (ii)        following
Listing, the payment of dividends on the listed common stock at a rate not to
exceed 6% per annum of the net cash proceeds received by the Company in
connection with such Listing or any subsequent Listing; provided that if such Listing
was of the share capital of a Holding Company of the Company, the net proceeds
of any such dividend are used to fund a corresponding dividend in equal or
greater amount on the share capital of such Holding Company;

     

    (o)      distributions
by any Restricted Subsidiary or any joint venture of chemicals to a holder of
Equity Interests of such Restricted Subsidiary or joint venture if such
distributions are made pursuant to a provision in a joint venture agreement or
other arrangement entered into in connection with the establishment of such
joint venture or Restricted Subsidiary that requires such holder to pay a price
for such chemicals equal to that which would be paid in a comparable transaction
negotiated on an arm’s-length basis (or pursuant to a provision that imposes a
substantially equivalent requirement); and

     

    (p)      payments
in the amounts and on the conditions described in the Tax Sharing
Agreement.

     

    Section
7.07.     Change in Nature of
Business

     

    Engage in
any material line of business substantially different from a Permitted
Business.

     

    Section
7.08.     Transactions with
Affiliates

     

    Enter
into any transaction of any kind with any Affiliate of the Company, whether or
not in the ordinary course of business, other than:

     

    (a)       reasonable
fees and compensation paid to and employee benefit arrangements, customary
insurance and indemnity provided on behalf of, officers, directors, managers,
employees or consultants of the Company or any Restricted Subsidiary as
determined in good faith by the Board of Directors or senior management of the
Company;

     

    (b)      transactions
exclusively between or among the Company and any of its Restricted Subsidiaries
or exclusively between or among such Restricted Subsidiaries in each case, provided such transactions
are not otherwise prohibited hereby;

     

    (c)       any
agreement as in effect as of the Original Closing Date set forth on Schedule 7.08 or any
amendment or renewal thereto or any transaction contemplated thereby or in any
replacement agreement thereto so long as any such amendment or renewal or
replacement agreement is not more disadvantageous to the Lenders (as determined
by the Board of Directors of the Company in their reasonable and good faith
judgment) in any material respect than the original agreement;

     

    
      
        
           

        

        
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    (d)       Investments
of the type described in clauses (b), (c), (d), (h), (k), (n) and (p) of Section
7.02 and Restricted Payments made in compliance with Section 7.06;

     

    (e)       transactions
between any of the Company, any of its Subsidiaries and any Securitization
Entity in connection with a Securitization Transaction, in each case provided that such
transactions are not otherwise prohibited hereby;

     

    (f)       transactions
with customers, clients, suppliers, distributors or other purchases or sales of
goods or services, in each case in the ordinary course of business;

     

    (g)      transactions
with Permitted Joint Ventures entered into in the ordinary course of business
and in a manner consistent with past practice;

     

    (h)      the
issuance or sale of any Qualified Equity Interests of the Company or capital
contributions received by the Company;

     

    (i)        transactions
entered into between or among the Company or any of its Restricted Subsidiaries
and any joint venture, or other Affiliate that would otherwise be subject to
this covenant solely because the Company or a Restricted Subsidiary owns any
Equity Interests of or otherwise controls such person, or other Affiliate
engaged in a Permitted Business that is under common control with the Company or
such Restricted Subsidiary, on terms that are no less favorable as might
reasonably have been obtained at such time from an unaffiliated party or, if no
such comparable transaction is available, on terms that are fair from a
financial point of view to the Company or such Restricted
Subsidiary;

     

    (j)        transactions
entered into by a Person prior to the time such Person becomes a Restricted
Subsidiary or is merged or consolidated into the Company or a Restricted
Subsidiary (provided
such transaction is not entered into in contemplation of such
event);

     

    (k)       dividends
and distributions to the Company and its Restricted Subsidiaries by any
Unrestricted Subsidiary of the Company or joint venture; and

     

    (l)        transactions
(x) involving aggregate payments of consideration equal to or less than
$10,000,000 or (y) on terms that are no less favorable to the Company or
the relevant Restricted Subsidiary than those terms that might reasonably have
been obtained in a comparable transaction at such time on an arm’s length basis
by the Company or the relevant Restricted Subsidiary and an unrelated Person or,
if no such comparable transaction with a Person who is not an Affiliate is
available on terms that are fair from a financial point of view to the Company
or such Restricted Subsidiary as certified by an Independent Financial Advisor;
provided that (x) the
Board of Directors of the Company or the board of directors of the relevant
Restricted Subsidiary and the board of directors of the relevant Restricted
Subsidiary must approve each transaction with an Affiliate to which they are a
party that involves aggregate payments or other property with a fair market
value in excess of $25,000,000, such approval to be evidenced by a board
resolution that states that the Board of Directors of the Company has determined
that the transaction complies with the foregoing provisions and (y) if the
Company or any Restricted Subsidiary enters into a transaction with an Affiliate
that involves payments or other property with an aggregate fair market value of
more than $100,000,000, then prior to the consummation of such transaction, the
parties to such transaction must obtain a favorable opinion as to the fairness
of such transaction or series of related transactions to the Company or the
relevant Restricted Subsidiary, as the case may be, from a financial point of
view, from an Independent Financial Advisor and deliver the same to the
Administrative Agent.

     

    
      
        
           

        

        
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    Section
7.09.     Burdensome
Agreements

     

    Enter
into or permit to exist any Contractual Obligation (other than this Agreement or
any other Loan Document) that limits the ability of (a) any Restricted
Subsidiary that is not a Guarantor to make Restricted Payments to any Borrower
or any Guarantor or (b) any Loan Party to create, incur, assume or suffer to
exist Liens on property of such Person for the benefit of the Lenders with
respect to the Facilities and the Obligations or under the Loan Documents; provided that the foregoing
clauses (a) and (b) shall not apply to Contractual Obligations
which

     

    (i)       (x)
exist on the Original Closing Date and (to the extent not otherwise permitted by
this Section 7.09) are listed on Schedule 7.09 and (y)
to the extent Contractual Obligations permitted by clause (x) are set forth in
an agreement evidencing Indebtedness, are set forth in any agreement evidencing
any permitted renewal, extension or refinancing of such Indebtedness so long as
such renewal, extension or refinancing does not expand the scope of such
Contractual Obligation,

     

    (ii)       are
binding on a Restricted Subsidiary at the time such Restricted Subsidiary first
becomes a Restricted Subsidiary, so long as such Contractual Obligations were
not entered into solely in contemplation of such Person becoming a Restricted
Subsidiary and as amended or modified; provided, however, that any such
amendment or modification is no less favorable to the Company in any material
respect as determined by the Board of Directors of the Company in their
reasonable and good faith judgment than the provisions prior to such amendment
or modification; provided further that this clause (ii)
shall not apply to Contractual Obligations that are binding on a Person that
becomes a Restricted Subsidiary pursuant to Section 6.12,

     

    (iii)     represent
Indebtedness of a Restricted Subsidiary which is not a Loan Party which is
permitted by Section 7.03,

     

    (iv)     arise
in connection with any Disposition permitted by Section 7.04 or 7.05 and relate
solely to the assets or Person subject to such Disposition,

     

    (v)      are
customary provisions in joint venture agreements and other similar agreements
applicable to joint ventures permitted under Section 7.02 and applicable solely
to such joint venture entered into in the ordinary course of
business,

     

    (vi)     are
negative pledges and restrictions on Liens in favor of any holder of
Indebtedness permitted under Section 7.03 but solely to the extent any negative
pledge relates to the property financed by such Indebtedness (and excluding in
any event any Indebtedness constituting any Junior Financing),

     

    (vii)    are
customary restrictions on leases, subleases, licenses or asset sale agreements
otherwise permitted hereby so long as such restrictions relate to the assets
subject thereto,

     

    (viii)   comprise
restrictions imposed by any agreement relating to secured Indebtedness permitted
pursuant to Section 7.03(e) to the extent that such restrictions apply only to
the property or assets securing such Indebtedness,

     

    (ix)      are
customary provisions restricting subletting or assignment of any lease governing
a leasehold interest of the Company or any Restricted Subsidiary,

     

    
      
        
           

        

        
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    (x)       are
customary provisions restricting assignment of any agreement entered into in the
ordinary course of business,

     

    (xi)      comprise
restrictions imposed by the Senior Second Lien Interim Loan Agreement, any
Permanent Financing, any Permitted Refinancing or under any Receivables
Financings with terms no less favorable to the Company than those provided for
by a Securitization Transaction or Asset Backed Credit Facilities, in the case
of Asset Backed Credit Facilities, in effect on the Amendment Effective
Date,

     

    (xii)     are
restrictions on cash or other deposits imposed by customers under contracts
entered into in the ordinary course of business, and

     

    (xiii)    are
customary restrictions in construction loans, purchase money obligations,
Capitalized Leases, security agreements or mortgages securing Indebtedness of
the Company or a Restricted Subsidiary to the extent such restrictions restrict
the transfer of the property subject to such Capitalized Leases, security
agreements or mortgages.

     

    Section
7.10.     Anti-Money
Laundering

     

    Each Loan
Party will use commercially reasonable efforts to ensure that no funds used to
pay the obligations under the Loan Documents are derived from any unlawful
activity.

     

    Section
7.11.     Financial
Covenants

     

    (a)           First Lien Senior Secured Leverage
Ratio.  Permit the First Lien Senior Secured Leverage Ratio as
of the last day of any Test Period, beginning with the Test Period ending March
31, 2008, to be greater than 3.75:1.00.

     

    (b)           Consolidated Debt Service
Ratio.  Permit the Consolidated Debt Service Ratio as of the
last day of any Test Period, beginning with the Test Period ending March 31,
2008, to be less than 1.10:1.00.

     

    (c)           Limitation on Capital
Expenditures.  Permit the aggregate amount of Capital
Expenditures (other than Excluded Capital Expenditures) made in any Fiscal Year
to exceed the amount set forth opposite such Fiscal Year below (each such
amount, a “Scheduled Capital
Expenditure Amount”):

     

    
      	
              Fiscal
      Year

            	 	
              Amount (in
      millions)

            	 
	
              Ending
      December 31, 2008

            	 	$	1,250	 
	
              Ending
      January 1, 2009 and each Fiscal Year thereafter

            	 	$	1,000	 

    

    

    provided, however, that

     

    (i)       so
long as no Default has occurred and is continuing or would result from such
expenditure, an amount equal to 50% of any portion of any amount set forth
above, if not expended in the Fiscal Year for which it is permitted above, may
be carried over for expenditure in the following Fiscal Year (each such amount,
a “Carry-Forward
Amount”); provided that if any such
amount is so carried over, it will be deemed used in the Fiscal Year after the
amount set forth opposite such Fiscal Year above and

     

    
      
        
           

        

        
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    (ii)       so
long as no Default has occurred and is continuing or would result from such
expenditure, if Capital Expenditures (other than Excluded Capital Expenditures)
made by the Company and its Restricted Subsidiaries during any Fiscal Year
exceed the amount set forth opposite such Fiscal Year above, if any, an amount
up to 50% of the Scheduled Capital Expenditures Amount for the next succeeding
Fiscal Year (each such amount, a “carry-back amount”) may be
carried back to such prior Fiscal Year and utilized to make Capital Expenditures
in such prior fiscal year (it being understood and agreed that (A) no carry-back
amount may be carried back beyond the Fiscal Year immediately prior to the
Fiscal Year of such Scheduled Capital Expenditure Amount and (B) the portion of
the carry-back amount actually utilized in any Fiscal Year shall be deducted
from the Scheduled Capital Expenditure Amount in the Fiscal Year from which it
was carried back); provided
further that, if the Applicable Amount Availability Condition shall be
met, the Company and its Restricted Subsidiaries shall be permitted to make
Capital Expenditures in an aggregate amount pursuant to Section 7.11(c) not to
exceed the portion, if any, of the Applicable Amount on the date of such
election that the Company elects to apply this clause, such election to be
specified in a written notice of a Company Financial Officer calculating in
reasonable detail the amount of Applicable Amount immediately prior to such
election and the amount thereof elected to be so applied.

     

    Section
7.12.     Accounting
Changes

     

    Make any
change in its fiscal year; provided, however, that the Company
may, upon written notice to the Administrative Agent, change its or any of its
Subsidiaries’ fiscal year to any other fiscal year reasonably acceptable to the
Administrative Agent, in which case the Company and the Administrative Agent
shall, and are hereby authorized by the Lenders to, make any adjustments to this
Agreement that are reasonably necessary to reflect such change in fiscal
year.

     

    Section
7.13.     Prepayments, Etc. of
Indebtedness

     

    (a)           Prepay,
redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity
thereof in any manner (it being understood that payments of regularly scheduled
interest shall be permitted) any contractually subordinated Indebtedness (other
than ordinary course intercompany Indebtedness and pursuant to the Dividend
Distribution Note, so long as treated as a Restricted Payment), the Senior
Second Lien Debt, the Existing Notes, any Permanent Financing or any Permitted
Refinancing thereof (such Indebtedness, “Junior Financing”) or make any
payment in violation of any subordination terms of any Junior Financing
Documentation, except (i) the refinancing thereof with the net proceeds of any
Indebtedness (net of all Taxes, fees, costs and expenses incurred by the Company
and its Restricted Subsidiaries with respect to such incurrence or issuance) (to
the extent such Indebtedness constitutes a Permitted Refinancing and, if such
Indebtedness was originally incurred under Section 7.03(l), is permitted
pursuant to Section 7.03(l)), in each case to the extent not required to prepay
any Loans pursuant to Section 2.05(b), (ii) the conversion of any Junior
Financing to Qualified Equity Interests of the Company or any direct or indirect
parent of the Company, (iii) the prepayment, defeasance or discharge of
Indebtedness under any Existing Notes with the proceeds of incurrence of
Indebtedness on the Original Closing Date in connection with the Transactions,
(iv) prepayment, defeasance or discharge of Indebtedness under the 2015 Notes,
(v) the reduction of the maturity of the Senior Second Lien Extended Loans to
June 20, 2015 (or, if such date is not a Business Day, the Business Day
immediately preceding such date), and (vi) prepayments, redemptions, purchases,
defeasances and other payments in respect of Junior Financings prior to their
scheduled maturity an aggregate amount not to exceed (A) $100,000,000 plus (B)
if the Applicable Amount Availability Condition shall have been satisfied on a
Pro Forma Basis after giving effect to such prepayment, redemption, purchase,
defeasance or other payment, with the portion, if any, of the Applicable Amount
on the date of such payment that the Borrowers’ Agent elects to apply to this
Section 7.13(a), such election to be specified in a written notice of a Company
Financial Officer calculating in reasonable detail the amount of Applicable
Amount immediately prior to such election and the amount thereof elected to be
so applied.

     

    
      
        
           

        

        
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    (b)           Amend,
modify or change in any manner materially adverse to the interests of the
Lenders any term or condition of any Junior Financing Documentation without the
consent of the Administrative Agent (which consent shall not be unreasonably
withheld).

     

    (c)           Prior
to September 27, 2009, reduce the aggregate commitments under the Access Group
Revolving Credit Facility from those outstanding on the Amendment Effective
Date.

     

    Section
7.14.     Holding
Company

     

    The
Company shall not, conduct, transact or otherwise engage in any business or
operations other than (i) those incidental to its ownership of the Equity
Interests of its Subsidiaries, (ii) those incidental to the maintenance of its
legal existence, (iii) the performance of the Loan Documents, the Collateral
Documents to which it is a party, the Existing Notes (only to the extent that
the Company is a party thereto on the Original Closing Date), the Management
Agreement, the Tax Sharing Agreement, the Acquisition Agreement, the Structured
Financing and the other agreements contemplated by the Acquisition Agreement,
(iv) any public offering of its common stock or any other issuance of its Equity
Interests not prohibited by Article VII, (v) any transaction that the Company
has entered into on or prior to the Original Closing Date, (vi) obligations of
the Company under European Securitization Transactions in effect on the Original
Closing Date, (vii) performance guarantees made in the ordinary course of
business, (viii) non-speculative hedging obligations, (ix) the making of loans
or payments to Subsidiaries as permitted hereunder, (x) the provisions of
administrative and management services to Subsidiaries of a type customarily
provided by a holding company to its subsidiaries and employing employees whose
services are required for the operation of the Company and its Subsidiaries and
other administrative and management services to holding companies of the
Company, and (xi) rights under and liabilities incurred resulting from Taxes or
loans being made to it, as the same are permitted hereunder.

     

    ARTICLE
VIII.

     

    Events of Default and
Remedies

     

    Section
8.01.     Events of
Default

     

    Any of
the following shall constitute an event of default (an “Event of Default”), subject to
Section 8.02(b):

     

    (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 (ii) within five (5) Business Days after the same
becomes due, any interest on any Loan or any other amount payable hereunder or
with respect to any other Loan Document; or

     

    (b)      Specific
Covenants.  Any Borrower fails to perform or observe any term,
covenant or agreement contained in Sections 6.03, 6.05 (solely with respect to
the Company and the Borrowers), Article VII or Section 10.01; or

     

    (c)      Other
Defaults.  Any Loan Party fails to perform or observe any other
covenant or agreement (not specified in Section 8.01(a) or (b) above) contained
in any Loan Document on its part to be performed or observed and such failure
continues for thirty (30) days, or solely with respect to a failure to comply
with clauses (a) and (b) of Section 6.01, ten (10) Business Days, after notice
thereof by the Administrative Agent to the Company or the Borrowers’ Agent;
or

     

    
      
        
           

        

        
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    (d)      Representations and
Warranties.  Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of any Borrower or any
other Loan Party herein, in any other Loan Document, or in any document that is
an exhibit to a Loan Document (or any certification by a Company Financial
Officer or the Borrowers’ Agent expressly contemplated by this Agreement) shall
be incorrect or misleading in any material respect when made or deemed made;
or

     

    (e)       Cross-Default.  Any
Loan Party or any Restricted Subsidiary (i) fails to make any payment beyond the
applicable grace period with respect thereto, if any (whether by scheduled
maturity, required prepayment, acceleration, demand, or otherwise) in respect of
any Indebtedness (other than Indebtedness hereunder) having an aggregate
principal amount of not less than the Threshold Amount, or (ii) fails to observe
or perform any other agreement or condition relating to any such Indebtedness of
not less than the Threshold Amount (any such Indebtedness, “Threshold Indebtedness”), or
any other event occurs (other than, with respect to Indebtedness consisting of
Swap Contracts, termination events or equivalent events pursuant to the terms of
such Swap Contracts), the effect of which default or other event is to cause, or
to permit the holder or holders of such Indebtedness (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 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; provided that this clause
(e)(ii) shall not apply to secured Indebtedness that becomes due as a result of
the voluntary sale or transfer of the property or assets securing such
Indebtedness, if such sale or transfer is permitted hereunder and under the
documents providing for such Indebtedness; provided further that such
failure is unremedied and is not waived by the holders of such Indebtedness
prior to any termination of the Commitments or acceleration of the Loans
pursuant to Section 8.02; or

     

    (f)       Insolvency Proceedings,
Etc.  Any of the Company, any Borrower or any Material
Subsidiary to the fullest extent permitted under applicable mandatory provisions
of law institutes or consents to the institution of any proceeding under any
Debtor Relief Law or files for the opening of insolvency proceedings or a third
person files for the opening of insolvency proceedings, or makes an assignment
for the benefit of creditors; or applies for or consents to the appointment of
any receiver, trustee (not being a custodian), custodian, conservator,
liquidator (not being a bewindvoerder),
rehabilitator, administrator, administrative receiver or similar officer for it
or for all or any material part of its property under any applicable Debtor
Relief Laws; or any receiver, trustee, custodian, conservator, liquidator,
rehabilitator, administrator, administrative receiver or similar officer is
appointed without the application or consent of such Person and the appointment
continues undischarged or unstayed for sixty (60) 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 (60) calendar days, or an
order for relief is entered in any such proceeding; or

     

    (g)      Inability to Pay Debts;
Attachment.  (i) Any of the Company, any Borrower or any
Material Subsidiary becomes unable or admits in writing its inability or fails
generally to pay its debts in excess of the Threshold Amount 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 the
Borrowers and the Restricted Subsidiaries, taken as a whole, and is not
released, vacated or fully bonded within sixty (60) days after its issue or levy
in each case, for the purposes of any Subsidiary domiciled in the United
Kingdom, ignoring the deeming provisions of Section 123(1)(a) of the Insolvency
Act 1986; or

     

    
      
        
           

        

        
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    (h)      Judgments.  There
is entered against any Loan Party or any Restricted Subsidiary one or more final
judgments or order for the payment of money in an aggregate amount exceeding the
Threshold Amount (to the extent not covered by independent third-party insurance
as to which the insurer has been notified of such judgment or order and has not
denied coverage) and such judgments or orders shall not have been satisfied,
vacated, discharged or stayed or bonded pending an appeal for a period of sixty
(60) consecutive days; or

     

    (i)        Invalidity of
Guaranties.  Any material portion of the Guarantees of the
Loans, at any time after its execution and delivery and for any reason other
than as expressly permitted hereunder or thereunder (including as a result of a
transaction permitted under Section 7.04 or 7.05) or as a result of acts or
omissions by the Administrative Agent or Collateral Agent or any Lender or the
satisfaction in full of all the Obligations, ceases to be in full force and
effect; or any Loan Party contests in writing the validity or enforceability of
any provision of any Loan Document or the validity or priority of a Lien as
required by the Collateral Documents on a material portion of the Collateral; or
any Loan Party denies in writing that it has any or further liability or
obligation under any Loan Document (other than as a result of repayment in full
of the payment Obligations and termination of the Aggregate Commitments), or
purports in writing to revoke or rescind any Loan Document; or it becomes
unlawful for any Loan Party to perform any of its payment Obligations under the
Loan Documents; or

     

    (j)        Change of
Control.  There occurs or shall exist any Change of Control;
or

     

    (k)       Collateral
Documents.  Any Collateral Document or the Intercreditor
Agreement after delivery thereof pursuant to Section 4.01, 6.12 or 6.14 shall
for any reason (other than pursuant to the terms hereof or thereof or solely as
a result of acts or omissions of the Administrative Agent or any Lender) ceases
to create a valid and perfected Lien, with the priority required by the
Collateral Documents and the Intercreditor Agreement on and security interest in
any material portion of the Collateral, subject to Liens permitted under Section
7.01, except (i) to the extent that any such loss of perfection or priority
results from the failure of the Administrative Agent or the Collateral Agent to
(a) maintain possession of certificates actually delivered to it representing
securities pledged under the Collateral Documents or (b) file Uniform Commercial
Code continuation statements, (ii) as to Collateral consisting of Real Property
to the extent that such losses are covered by a lender’s title insurance policy
and such insurer has not denied or failed to acknowledge coverage, or (iii) any
of the Equity Interests of the Borrower ceasing to be pledged pursuant to any
Security Agreement free of Liens other than Liens created by such Security
Agreement or any nonconsensual Liens arising solely by operation of Law;
or

     

    (l)        ERISA.  An ERISA
Event or any similar event with respect to a Foreign Plan occurs which, together
with all other ERISA Events (or similar events with respect to Foreign Plans)
that have occurred, has resulted or could reasonably be expected to result in a
Material Adverse Effect.

     

    Notwithstanding
the foregoing, Events of Default under Section 8.01(e) and (h) shall not apply
with respect to Millennium Holdings LLC or any Person that is a Subsidiary of
Millennium Holdings LLC as of the Original Closing Date (collectively, the
“Millennium Holdings
Group”) if, at the time of determination, (x) the event that would
otherwise give rise to such an Event of Default is excluded from the
corresponding provision in all other Threshold Indebtedness or would otherwise
not give rise to an event of default thereunder in accordance with the terms of
such Threshold Indebtedness and (y) the Millennium Holdings Group, taken as a
whole, is not a Material Subsidiary.

     

    
      
        
           

        

        
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    Section
8.02.     Remedies upon Event of
Default.

     

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

     

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

     

    (ii)      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 Borrowers’ Agent;

     

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

     

    (iv)     exercise
on behalf of itself and the Lenders all rights and remedies available to it and
the Lenders under the Loan Documents or applicable Law; and

     

    (v)      by
notice to the Dutch Loan Party concerned, require any Dutch Loan Party to give a
Guarantee or Lien (in accordance with the Collateral and Guarantee Requirement)
in favor of the Secured Parties and/or the Administrative Agent and the Dutch
Loan Party must comply with that request;

     

    provided that upon the
occurrence of an actual or deemed entry of an order for relief with respect to
the Company under any Debtor Relief Law, the obligation of each Lender to make
Loans and any obligation of the L/C Issuers 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 Borrowers 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.

     

    (b)           Notwithstanding
the foregoing, during the period from the Original Closing Date until the date
that is 90 days after the Original Closing Date (the “Clean-Up Period”), a breach of
any representation or warranty or a breach of any covenant or an Event of
Default which arises solely with respect to Lyondell or any of its
Subsidiaries will be deemed not to be a breach of representation or warranty or
a breach of covenant or an Event of Default (as the case may be) if, it would
have been (if it were not for this provision) a breach of representation or
warranty or a breach of covenant or an Event of Default only by reason of
circumstances not known to the Company to exist on July 16, 2007 (or if known
disclosed to the Administrative Agent on or prior to July 16, 2007) and
relating  to Lyondell and its Subsidiaries or any of them if and for
so long as the circumstances giving rise to the relevant breach of
representation or warranty or breach of covenant or Event of
Default:

     

    (i)       are
not the result of any positive action taken by the Company or any of its
Subsidiaries (other than Lyondell and its Subsidiaries);

     

    
      
        
           

        

        
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    (ii)       the
Company notifies the Administrative Agent promptly upon becoming aware of the
same; and

     

    (iii)      reasonable
efforts are being made to remedy the same;

     

    provided that if the relevant
circumstances are continuing at the end of the Clean-Up Period there shall be a
breach of representation or warranty, breach of covenant or Event of Default, as
the case may be.

     

    Section
8.03.     Application of
Funds

     

    After the
exercise of remedies provided for in Section 8.02 (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 8.02), any amounts received on account of the Obligations
shall be applied by the Administrative Agent in the following order (to the
fullest extent permitted by mandatory provisions of applicable
Law):

     

    First, to payment of
that portion of the payment Obligations constituting fees, indemnities, expenses
and other amounts (other than principal and interest, but including Attorney
Costs payable under Section 10.04 and amounts payable under Article III) payable
to the Administrative Agent or the Collateral Agent in its capacity as
such;

     

    Second, to payment of
that portion of the payment Obligations constituting fees, indemnities and other
amounts (other than principal and interest) payable to the Lenders (including
Attorney Costs payable under Section 10.04 and amounts payable under Article
III), ratably among them in proportion to the amounts described in this clause
Second payable
to them;

     

    Third, to payment of
that portion of the payment Obligations constituting accrued and unpaid interest
on the Loans and L/C Borrowings, and any fees, premiums and scheduled periodic
payments due under Treasury Services Agreements or Secured Hedge Agreements,
ratably among the Secured Parties in proportion to the respective amounts
described in this clause Third payable to them;

     

    Fourth, to payment of
that portion of the payment Obligations constituting unpaid principal of the
Loans and L/C Borrowings (including to Cash Collateralize that portion of L/C
Obligations comprised of the aggregate undrawn amount of Letters of Credit), and
any breakage, termination or other payments under Treasury Services Agreements
or Secured Hedge Agreements, ratably among the Secured Parties in proportion to
the respective amounts described in this clause Fourth held by
them;

     

    Fifth, to the payment
of all other payment Obligations of the Borrowers that are due and payable to
the Administrative Agent and the other Secured Parties on such date, ratably
based upon the respective aggregate amounts of all such Obligations owing to the
Administrative Agent and the other Secured Parties on such date;
and

     

    Last, the balance, if
any, after all of the payment Obligations have been paid in full, to the
Borrowers 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 Fifth 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
and, if no Obligations remain outstanding, to the Borrowers as
applicable.

     

    
      
        
           

        

        
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    Section
8.04.     Right To
Cure

     

    (a)           Notwithstanding
anything to the contrary contained in Section 8.01(b), in the event of any
Default or Event of Default arising solely as a result of failure to comply with
the requirements of the covenants set forth in Section 7.11(a) or (b), the
Company may obtain the investment of further equity or shareholder debt (provided that the same is
fully subordinated pursuant to an intercreditor agreement) into the Company in
an aggregate amount sufficient to reduce Consolidated First Lien Senior Secured
Debt for the purpose of the financial covenant set forth in Section 7.11(a), or
to the extent such investment is applied in prepayment of any of the Facilities,
reduce the portion of the Consolidated Interest Expense attributable to such
Facility for the purposes of the financial covenant set forth in Section 7.11(b)
(but, for the avoidance of doubt, the investment of further equity or
shareholder debt shall not increase Consolidated EBITDA and be treated as having
no effect for the purposes of calculating any Applicable Rate, the Applicable
ECF Percentage, the Applicable Amount or covenant relaxation).  Such
investment must be made no more than 10 Business Days after the date on which
the relevant Compliance Certificate is required to have been delivered. To the
extent that any such equity or shareholder debt is invested in a particular
period to enable a test or tests in a previous period to be not breached, that
investment shall be deemed to have taken place on the last day of that prior
period for the purpose of the financial covenant in Section 7.11(a) or on the
first day of such prior period for the purpose of the financial covenant in
Section 7.11(b).  No more than four cures shall be permitted during
the life of the Facility.

     

    (b)           If
on a Pro Forma Basis after giving effect to the investment of equity or
shareholder debt pursuant to the preceding clause (a), the Company would have
been in compliance with the covenant set forth in Section 7.11(a) and Section
7.11(b) as of the date of the relevant Compliance Certificate, the Default or
Event of Default under Section 8.01(b) shall be deemed to have not
occurred.

     

    (c)           The
Company shall, immediately following an investment of equity or shareholder debt
and the repayment of Indebtedness pursuant to Section 8.04(a), deliver to the
Administrative Agent a Compliance Certificate demonstrating to the
Administrative Agent’s satisfaction that on a Pro Forma Basis after giving
effect to such investment and repayment of Indebtedness that the financial
covenants set forth in Sections 7.11(a) and (b) are then complied
with.

     

    Section
8.05.     CAM
Exchange

     

    On the
CAM Exchange Date, (i) the Lenders shall automatically and without further act
be deemed to have exchanged interests in the Designated Obligations such that,
in lieu of the interests of each Lender in the Designated Obligations under each
Loan in which it shall participate as of such date, such Lender shall own an
interest equal to such Lender’s CAM Percentage in the Designated Obligations
under each of the Loans and (ii) simultaneously with the deemed exchange of
interests pursuant to clause (i) above, the interests in the Designated
Obligations to be received in such deemed exchange shall, automatically and with
no further action required, be converted into the Dollar Amount, determined
using the Exchange Rate calculated as of such date, of such amount and on and
after such date all amounts accruing and owed to the Lenders in respect of such
Designated Obligations shall accrue and be payable in U.S. Dollars at the rate
otherwise applicable hereunder.  Each Lender, each Person acquiring a
participation from any Lender as contemplated by Section 10.07 and each Borrower
hereby consents and agrees to the CAM Exchange.  Each  of
the Borrowers and the Lenders agrees from time to time to execute and deliver to
the Administrative Agent all such promissory notes and other instruments and
documents as the Administrative Agent shall reasonably request to evidence and
confirm the respective interests and obligations of the Lenders after giving
effect to the CAM Exchange, and each Lender agrees to surrender any promissory
notes originally received by it in connection with its Loans hereunder to the
Administrative Agent against delivery of any promissory notes so executed and
delivered; provided
that the failure of any Borrower to execute or deliver or of any Lender to
accept any such promissory note, instrument or document shall not affect the
validity or effectiveness of the CAM Exchange.

     

    
      
        
           

        

        
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    As a
result of the CAM Exchange, on and after the CAM Exchange Date, each payment
received by the Administrative Agent pursuant to any Loan Document in respect of
the Designated Obligations shall be distributed to the Lenders pro rata in
accordance with their respective CAM Percentages (to be redetermined as of each
such date of payment).

     

    ARTICLE
IX.

     

    Administrative Agent and
Other Agents

     

    Section
9.01.     Appointment and
Authorization of Agents

     

    (a)           Each
Lender hereby irrevocably appoints, designates, authorizes and releases from the
restrictions on self-dealing (§181 of the German Civil Code) each of the
Administrative Agent and the Collateral Agent to execute on its behalf and on
behalf of the other Secured Parties the Collateral Documents and the
Intercreditor Agreement take such action on its and their behalf under the
provisions of this Agreement and each other Loan Document and the Intercreditor
Agreement and to exercise such powers and perform such duties as are expressly
delegated to it by the terms of this Agreement or any other Loan Document,
together with such powers as are reasonably incidental thereto, and the
Administrative Agent and the Collateral Agent each accept such
assignment.  Each Lender hereby irrevocably appoints, designates,
authorizes and releases from the restrictions on self-dealing (§181 of the
German Civil Code) the Collateral Agent (the “Equistar Restricted Collateral
Agent”) to execute on its behalf, on behalf of the other Secured Parties,
and on behalf of the Equistar Notes Secured Parties security agreements, pledge
agreements, mortgages and/or other collateral documents (the “Equistar Restricted Collateral
Documents”) and to take such action on its and their behalf under the
provisions of this Agreement and the Equistar Restricted Collateral Documents
and to exercise such powers and perform such duties as are expressly delegated
to it by the terms of this Agreement or the Equistar Restricted Collateral
Documents, together with such powers as are reasonably incidental thereto, and
the Equistar Restricted Collateral Agent accepts such assignment. In addition,
each Lender hereby irrevocably appoints, designates, authorizes and releases
from the restrictions on self-dealing (§181 of the German Civil Code) the
Collateral Agent (the “Restricted Collateral Agent”)
to execute on its behalf, on behalf of the other Secured Parties, and on behalf
of the Arco Notes Secured Parties (as defined in the Security Agreement executed
by BIL Acquisition Holdings Limited (the “Restricted Security
Agreement”)) the Restricted Security Agreement and to take such action on
its and their behalf under the provisions of this Agreement and the Restricted
Security Agreement and to exercise such powers and perform such duties as are
expressly delegated to it by the terms of this Agreement or the Restricted
Security Agreement, together with such powers as are reasonably incidental
thereto, and the Restricted Collateral Agent accepts such
assignment.  Notwithstanding any provision to the contrary contained
elsewhere herein, in any other Loan Document or any documents related to the
Transactions, neither the Administrative Agent nor the Collateral Agent shall
have any duties or responsibilities, except those expressly set forth herein or
in any other Loan Document and the Intercreditor Agreement, nor shall the
Administrative Agent or the Collateral Agent have or be deemed to have any
fiduciary relationship with any Lender or Participant, and no implied covenants,
functions, responsibilities, duties, obligations or liabilities shall be read
into this Agreement, any other Loan Document or any documents related to the
Transactions or otherwise exist against the Administrative Agent or the
Collateral Agent.  Without limiting the generality of the foregoing
sentence, the use of the term “agent” herein and in the other Loan Documents and
the Intercreditor Agreement with reference to any Agent is not intended to
connote any fiduciary or other implied (or express) obligations arising under
agency doctrine of any applicable Law.  Instead, such term is used
merely as a matter of market custom, and is intended to create or reflect only
an administrative relationship between independent contracting
parties.

     

    
      
        
           

        

        
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    (b)           Each
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 each such L/C
Issuer shall have all of the benefits and immunities (i) provided to the Agents
in this Article IX with respect to any acts taken or omissions suffered by such
L/C Issuer in connection with Letters of Credit issued by it or proposed to be
issued by it and the applications and agreements for letters of credit
pertaining to such Letters of Credit as fully as if the term “Agent” as used in
this Article IX and in the definition of “Agent-Related Person” included such
L/C Issuer with respect to such acts or omissions, and (ii) as additionally
provided herein with respect to such L/C Issuer.

     

    (c)           Each
of the Secured Parties hereby irrevocably appoints, designates and authorizes
(under release from restrictions on self-dealing (§181 of the German Civil
Code)), including under the release from the restrictions on self-dealing (§181
of the German Civil Code), the Collateral Agent to act as the agent of (and to
hold any security interest created by the Collateral Documents for and on behalf
of or on trust for and to enter into any “Parallel Debt” as defined in the
Collateral Documents governed by Dutch law) such Secured Party for purposes of
executing the Collateral Documents on its own behalf, acquiring, holding and
enforcing any and all Liens on Collateral granted by the Loan Parties to secure
any of the Obligations, together with such powers and discretion as are
reasonably incidental thereto.  In this connection, the Collateral
Agent (and any co-agents, sub-agents and attorneys-in-fact appointed by the
Collateral Agent pursuant to Section 9.02 for purposes of holding or enforcing
any Lien on the Collateral (or any portion thereof) granted under the Collateral
Documents, or for exercising any rights and remedies thereunder at the direction
of the Collateral Agent), shall be entitled to the benefits of all provisions of
this Article IX (including Section 9.07, as though such co-agents, sub-agents
and attorneys-in-fact were the Collateral Agent under the Loan Documents) as if
set forth in full herein with respect thereto.

     

    (d)           The
appointment of the Collateral Agent pursuant to Section 9.01(a) referred to in
this Section 9.01 shall be regarded and construed, for the purposes of Italian
law, as a mandato con
rappresentanza, and accordingly the Collateral Agent shall act as the
mandatario con rappresentanza
of the Secured Parties and shall be fully entitled to, without
limitation:

     

    (i)       exercise
in its name (in nome
proprio) and in the name and on behalf (in nome e per conto) of the
Secured Parties all rights, powers and discretion, execute all documents and
take all actions which are expressed to be exercised, executed or taken by the
Secured Parties under or in connection with any of the Collateral Documents
governed by Italian law;

     

    (ii)                  execute
and perfect, in its name (in
nome proprio) and in the name and on behalf (in nome e per conto) of the
Secured Parties, any amendment agreement, deed of acknowledgement, supplemental
deed, confirmation deed or any other document to be executed in connection with
or under any Collateral Document governed by Italian law;

     

    (iii)                  apply
the proceeds of any enforcement and sale under the relevant Collateral Document
governed by Italian law in accordance with the terms of the Intercreditor
Agreement; and

     

    (iv)                  take,
in its name (in nome
proprio) and in the name and on behalf (in nome e per conto) of the
Secured Parties, any enforcement action in connection with any Collateral and,
in accordance with the enforcement procedures provided for by Italian Law and
the provisions of the Loan Documents governed by Italian Law, provided that the Collateral
Agent may delegate or authorize any Secured Party to take enforcement actions in
compliance with the provisions of the other Loan Documents and the provisions of
Italian Law.

     

    
      
        
           

        

        
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    Section
9.02.     Delegation of
Duties

     

    Each of
the Administrative Agent and the Collateral Agent may execute any of its duties
under this Agreement or any other Loan Document (including for purposes of
holding or enforcing any Lien on the Collateral (or any portion thereof) granted
under the Collateral Documents or of exercising any rights and remedies
thereunder) by or through agents, employees or attorneys-in-fact including for
the purpose of any Borrowings or payments in Euros, such sub-agents as shall be
deemed necessary by the Administrative Agent or the Collateral Agent (which such
agents may be released from the restrictions set forth in §181 of the German
Civil Code), as the case may be, and shall be entitled to advice of counsel and
other consultants or experts concerning all matters pertaining to such
duties.  The Administrative Agent shall not be responsible for the
negligence or misconduct of any agent or sub-agent or attorney or
attorney-in-fact that it selects in the absence of gross negligence or willful
misconduct (as determined in the final judgment of a court of competent
jurisdiction).

     

    Section
9.03.     Liability of
Agents

     

    No
Agent-Related Person shall (i) be liable for any action taken or omitted to be
taken by any of them under or in connection with this Agreement or any other
Loan Document or the transactions contemplated hereby (except for its own bad
faith, gross negligence or willful misconduct, as determined by the final
judgment of a court of competent jurisdiction, in connection with its duties
expressly set forth herein), or (ii) be responsible in any manner to any Lender
or Participant for any recital, statement, representation or warranty made by
any Loan Party or any officer thereof, contained herein or in any other Loan
Document or the transactions contemplated hereby or thereby, or in any
certificate, report, statement or other document referred to or provided for in,
or received by the Administrative Agent or the Collateral Agent under or in
connection with, this Agreement or any other Loan Document or the transactions
contemplated hereby or thereby, or the validity, effectiveness, genuineness,
enforceability or sufficiency of this Agreement or any other Loan Document, or
the perfection or priority of any Lien or security interest created or purported
to be created under the Collateral Documents, or for any failure of any Loan
Party or any other party to any Loan Document to perform its obligations
hereunder or thereunder.  No Agent-Related Person shall be under any
obligation to any Lender or participant to ascertain or to inquire as to the
observance or performance of any of the agreements contained in, or conditions
of, this Agreement or any other Loan Document or agreements related to the
Transactions or to inspect the properties, books or records of any Loan Party or
any Affiliate thereof.

     

    Section
9.04.     Reliance by
Agents

     

    (a)           Each
Agent shall be entitled to rely, and shall be fully protected in relying, upon
any writing, communication, signature, resolution, representation, notice,
consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone
message, electronic mail message or transmission, statement or other document or
conversation believed by it to be genuine and correct and to have been signed,
sent or made by the proper Person or Persons, and upon advice and statements of
legal counsel (including counsel to any Loan Party), independent accountants and
other experts selected by such Agent.  Each Agent shall be fully
justified in failing or refusing to take any action under any Loan Document
unless it shall first receive such advice or concurrence of the Required Lenders
as it deems appropriate and, if it so requests, it shall first be indemnified to
its satisfaction by the Lenders against any and all liability and expense which
may be incurred by it by reason of taking or continuing to take any such
action.  Each Agent shall in all cases be fully protected in acting,
or in refraining from acting, under this Agreement or any other Loan Document in
accordance with a request or consent of the Required Lenders (or such greater
number of Lenders as may be expressly required hereby in any instance) and such
request and any action taken or failure to act pursuant thereto shall be binding
upon all the Lenders.

     

    
      
        
           

        

        
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    (b)           For
purposes of determining compliance with the conditions specified in Section 4.01
or 4.02(a), 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 Original Closing Date specifying
its objection thereto.

     

    Section
9.05.     Notice of
Default

     

    The
Administrative Agent shall not be deemed to have knowledge or notice of the
occurrence of any Default, except with respect to defaults in the payment of
principal, interest and fees required to be paid to the Administrative Agent for
the account of the Lenders, unless the Administrative Agent shall have received
written notice from a Lender or a Borrowers’ Agent referring to this Agreement,
describing such Default and stating that such notice is a “notice of
default.”  The Administrative Agent will notify the Lenders of its
receipt of any such notice.  The Administrative Agent shall take such
action with respect to any Event of Default as may be directed by the Required
Lenders in accordance with Article VIII; provided that unless and
until the Administrative Agent has received any such direction, the
Administrative Agent may (but shall not be obligated to) take such action, or
refrain from taking such action, with respect to such Event of Default as it
shall deem advisable or in the best interest of the Lenders.

     

    Section
9.06.     Credit Decision; Disclosure
of Information by Agents

     

    (a)           Each
Lender confirms to the Administrative Agent, each other Lender and each of their
respective Affiliates that it (i) possesses (individually or through its
Affiliates) such knowledge and experience in financial and business matters that
it is capable, without reliance on the Administrative Agent, any other Lender or
any of their respective Affiliates, of evaluating the merits and risks
(including tax, legal, regulatory, credit, accounting and other financial
matters) of (x) entering into this Agreement and the transactions contemplated
thereby, (y) making Loans and other extensions of credit hereunder and under the
other Loan Documents and (z) taking or not taking actions hereunder and
thereunder, (ii) is financially able to bear such risks and (iii) has determined
that entering into this Agreement and making Loans and other extensions of
credit hereunder and under the other Loan Documents is suitable and appropriate
for it.

     

    (b)           Each
Lender acknowledges that (i) it is solely responsible for making its own
independent appraisal and investigation of all risks arising under or in
connection with this Agreement and the other Loan Documents and the transactions
contemplated hereby and thereby, (ii) it has, independently and without reliance
upon the Administrative Agent, any other Lender or any of their respective
Affiliates, made its own appraisal and investigation of all risks associated
with, and its own credit analysis and decision to enter into, this Agreement
based on such documents and information as it has deemed appropriate and (iii)
it will, independently and without reliance upon the Administrative Agent, any
other Lender or any of their respective Affiliates, continue to be solely
responsible for making its own appraisal and investigation of all risks arising
under or in connection with, and its own credit analysis and decision to take or
not take action under, this Agreement and the other Loan Documents and the
transactions contemplated hereby and thereby based on such documents and
information as it shall from time to time deem appropriate, which may include,
in each case:

     

    (i)       the
financial condition, status and capitalization of the Company, the Borrowers and
each other Loan Party;

     

    
      
        
           

        

        
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    (ii)       the
legality, validity, effectiveness, adequacy or enforceability of this Agreement
and each other Loan Document and any other agreement, arrangement or document
entered into, made or executed in anticipation of, under or in connection with
any Loan Document and the transactions contemplated hereby and
thereby;

     

    (iii)      determining
compliance or non-compliance with any condition hereunder to the making of a
Loan or the issuance of a Letter of Credit and the form and substance of all
evidence delivered in connection with establishing the satisfaction of each such
condition; and

     

    (iv)     the
adequacy, accuracy and/or completeness of any information delivered by the
Administrative Agent, any other Lender or by any of their respective Affiliates
under or in connection with this Agreement or any other Loan Document, the
transactions contemplated hereby and hereby and thereby or any other agreement,
arrangement or document entered into, made or executed in anticipation of, under
or in connection with any Loan Document or the transactions contemplated hereby
and thereby.

     

    Section
9.07.     Indemnification of
Agents

     

    Whether
or not the transactions contemplated hereby are consummated, the Lenders shall
indemnify upon demand each Agent-Related Person (to the extent not reimbursed by
or on behalf of any Loan Party and without limiting the obligation of any Loan
Party to do so), pro rata, and hold harmless each Agent-Related Person from and
against any and all Indemnified Liabilities incurred by it; provided that no Lender shall
be liable for the payment to any Agent-Related Person of any portion of such
Indemnified Liabilities resulting from such Agent-Related Person’s own gross
negligence or willful misconduct, as determined by the final judgment of a court
of competent jurisdiction; provided that no action taken
in accordance with the directions of the Required Lenders (or such other number
or percentage of the Lenders as shall be required by the Loan Documents) shall
be deemed to constitute gross negligence or willful misconduct for purposes of
this Section 9.07.  In the case of any investigation, litigation or
proceeding giving rise to any Indemnified Liabilities, this Section 9.07 applies
whether any such investigation, litigation or proceeding is brought by any
Lender or any other Person.  Without limitation of the foregoing, each
Lender shall reimburse each of the Administrative Agent and the Collateral Agent
upon demand for its ratable share of any costs or out-of-pocket expenses
(including Attorney Costs) incurred by the Administrative Agent or the
Collateral Agent, as the case may be, in connection with the preparation,
execution, delivery, administration, modification, amendment or enforcement
(whether through negotiations, legal proceedings or otherwise) of, or legal
advice in respect of rights or responsibilities under, this Agreement, any other
Loan Document, or any document contemplated by or referred to herein, to the
extent that the Administrative Agent or the Collateral Agent, as the case may
be, is not reimbursed for such expenses by or on behalf of the Loan
Parties.  The undertaking in this Section 9.07 shall survive
termination of the Aggregate Commitments, the payment of all other Obligations
and the resignation of the Administrative Agent or the Collateral Agent, as the
case may be.

     

    Section
9.08.     Agents in Their Individual
Capacities

     

    Citibank,
N.A. and its Affiliates may make loans to, issue letters of credit for the
account of, accept deposits from, acquire Equity Interests in and generally
engage in any kind of banking, trust, financial advisory, underwriting or other
business with the Borrowers and their respective Affiliates as though Citibank,
N.A. were not the Administrative Agent, the Collateral Agent or an L/C Issuer
hereunder and without notice to or consent of the Lenders.  The
Lenders acknowledge that, pursuant to such activities, Citibank, N.A. or its
Affiliates may receive information regarding the Borrowers or their respective
Affiliates (including information that may be subject to confidentiality
obligations in favor of any such Borrower or such Affiliate) and acknowledge
that neither the Administrative Agent nor the Collateral Agent shall be under
any obligation to provide such information to them.  With respect to
its Loans, Citibank, N.A. and its Affiliates shall have the same rights and
powers under this Agreement as any other Lender and may exercise such rights and
powers as though it were not the Administrative Agent, the Collateral Agent or
an L/C Issuer, and the terms “Lender” and “Lenders” include Citibank, N.A. in
its individual capacity.  Any successor to Citibank, N.A. as the
Administrative Agent or the Collateral Agent shall also have the rights
attributed to Citibank, N.A. under this paragraph.

     

    
      
        
           

        

        
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    Section
9.09.     Successor
Agents

     

    Each of
the Administrative Agent and the Collateral Agent may resign as the
Administrative Agent or the Collateral Agent, as applicable upon thirty (30)
days’ notice to the Lenders and the Company.  If the Administrative
Agent or the Collateral Agent resigns under this Agreement, the Required Lenders
shall appoint from among the Lenders a successor agent for the Lenders, which
successor agent shall be consented to by the Company at all times other than
during the existence of an Event of Default under Section 8.01(f) or (g) (which
consent of the Company shall not be unreasonably withheld or
delayed).  If no successor agent is appointed prior to the effective
date of the resignation of the Administrative Agent or the Collateral Agent, as
applicable, the Administrative Agent or the Collateral Agent, as applicable, may
appoint, after consulting with the Lenders and the Company, a successor agent
from among the Lenders.  Upon the acceptance of its appointment as
successor agent hereunder, the Person acting as such successor agent shall
succeed to (and the Administrative Agent or the Collateral Agent shall assign
and transfer to its successor) all the claims, rights, powers and duties of the
retiring Administrative Agent or retiring Collateral Agent and the term
“Administrative Agent” or “Collateral Agent” shall mean such successor
administrative agent or collateral agent and/or Supplemental Agent, as the case
may be, and the retiring Administrative Agent’s or Collateral Agent’s
appointment, powers and duties as the Administrative Agent or Collateral Agent
shall be terminated.  After the retiring Administrative Agent’s or the
Collateral Agent’s resignation hereunder as the Administrative Agent or
Collateral Agent, the provisions of this Article IX and Sections 10.04 and 10.05
shall inure to its benefit as to any actions taken or omitted to be taken by it
while it was the Administrative Agent or Collateral Agent under this
Agreement.  If no successor agent has  accepted appointment
as the Administrative Agent or the Collateral Agent by the date which is thirty
(30) days following the retiring Administrative Agent’s or Collateral Agent’s
notice of resignation, the retiring Administrative Agent’s or the retiring
Collateral Agent’s resignation shall nevertheless thereupon become effective and
the Lenders shall perform all of the duties of the Administrative Agent or
Collateral Agent hereunder until such time, if any, as the Required Lenders
appoint a successor agent as provided for above.  Upon the acceptance
of any appointment as the Administrative Agent or Collateral Agent hereunder by
a successor and upon the execution and filing or recording of such financing
statements, or amendments thereto, and such other instruments or notices, as may
be necessary or desirable, or as the Required Lenders may request, in order to
(a) continue the perfection of the Liens granted or purported to be granted by
the Collateral Documents or (b) otherwise ensure that Section 6.12 is satisfied,
the Administrative Agent or Collateral Agent shall thereupon succeed to and
become vested with all the rights, powers, discretion, privileges, and duties of
the retiring Administrative Agent or Collateral Agent, and the retiring
Administrative Agent or Collateral Agent shall be discharged from its duties and
obligations under the Loan Documents.  After the retiring
Administrative Agent’s or Collateral Agent’s resignation hereunder as the
Administrative Agent or the Collateral Agent, the provisions of this Article IX
shall continue in effect for its benefit in respect of any actions taken or
omitted to be taken by it while it was acting as the Administrative Agent or the
Collateral Agent.

     

    Section
9.10.     Administrative Agent May
File Proofs of Claim

     

    In case
of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or 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 a Borrowers’
Agent or the Collateral Agent) shall be (to the fullest extent permitted by
mandatory provisions of applicable Law) entitled and empowered, by intervention
in such proceeding or otherwise:

     

    
      
        
           

        

        
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    (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
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 Collateral Agent
and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders, the
Collateral Agent and the Administrative Agent and their respective agents and
counsel and all other amounts due the Lenders, the Collateral Agent and the
Administrative Agent under Sections 2.03(h) and (i), 2.09 and 10.04) 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, curator, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by
each Lender to make such payments to the Administrative Agent or the Collateral
Agent and, in the event that the Administrative Agent shall consent to the
making of such payments directly to the Lenders, to pay to the Administrative
Agent or the Collateral Agent any amount due for the reasonable compensation,
expenses, disbursements and advances of the Agents and their respective agents
and counsel, and any other amounts due the Administrative Agent or the
Collateral Agent under Sections 2.09 and 10.04.

     

    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 any plan of
reorganization, arrangement, adjustment or composition affecting the Obligations
or the rights of any Lender or to authorize the Administrative Agent to vote in
respect of the claim of any Lender in any such proceeding.

     

    Section
9.11.     Collateral and Guaranty
Matters

     

    (a)           The
Lenders irrevocably agree:

     

    (i)       that
any Lien on any property granted to or held by the Administrative Agent or the
Collateral Agent under any Loan Document shall be automatically released (i)
upon termination of the Aggregate Commitments and payment in full of all
Obligations (other than (x) obligations under Secured Hedge Agreements and
Treasury Services Agreements not yet due and payable and (y) contingent
indemnification obligations not yet accrued and payable) and the expiration or
termination, or issuance of a back stop letter of credit for, or cash
collateralization of all Letters of Credit, (ii) at the time the property
subject to such Lien is transferred or to be transferred as part of or in
connection with any transfer permitted hereunder or under any other Loan
Document to any Person other than a Person required to grant a Lien to the
Administrative Agent or the Collateral Agent under the Loan Documents (or, if
such transferee is a Person required to grant a Lien to the Administrative Agent
or the Collateral Agent on such asset, at the option of the applicable Loan
Party, such Lien on such asset may still be released in connection with the
transfer so long as (A) the transferee grants a new Lien to the Administrative
Agent or Collateral Agent on such asset substantially concurrently with the
transfer of such asset and (B) the priority of the new Lien is the same as that
of the original Lien), (iii) subject to Section 10.01, if the release of such
Lien is approved, authorized or ratified in writing by the Required Lenders or
(iv) if the property subject to such Lien is owned by a Guarantor, upon release
of such Guarantor from its obligations under its Guaranty pursuant to clause (c)
below;

     

    
      
        
           

        

        
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    (ii)       to
release or subordinate any Lien on any property granted to or held by the
Administrative Agent or the Collateral Agent under any Loan Document to the
holder of any Lien on such property that is permitted by Section 7.01(n) and
(p);

     

    (iii)      that
any Guarantor shall be automatically released from its obligations under the
Guaranty if such Person ceases to be a Restricted Subsidiary or becomes an
Excluded Subsidiary as a result of a transaction or designation permitted
hereunder; provided
that no such release shall occur if such Guarantor continues to be a guarantor
in respect of any Junior Financing; and

     

    (iv)     to
release any Lien on any pipeline easement and other similar Real Property
granted to or held by the Administrative Agent or the Collateral Agent under any
Loan Document in connection with a Disposition of pipeline easements pursuant to
Section 7.05(m) of this Agreement subject to and in accordance with the
following:

     

    (A)           the
Administrative Agent and Collateral Agent have been furnished evidence
satisfactory to them that the swap of assets contemplated in such subpart (n)
relating to the release being requested satisfies the requirements of such
subpart (n); and

     

    (B)           In
connection with such disposition and as a condition to the granting of such
release, (I) the Loan Party acquiring the new pipeline easements and other
similar Real Property has obtained titled to such Real Property, (II) the
Collateral Agent has received a Mortgage duly executed and delivered by such
Loan Party with respect to such Real Property, such Mortgage being free of any
Liens except as expressly permitted by Section 7.01, and (III) such Loan Party
has delivered to the Administrative Agent and the Collateral Agent such existing
surveys, existing abstracts, certificates, title documents, existing appraisals,
legal opinions and other documents as the Administrative Agent may reasonably
request with respect to any such Real Property.

     

    Upon
request by the Administrative Agent or the Collateral Agent at any time, the
Required Lenders will confirm in writing the Administrative Agent’s or the
Collateral 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 9.11.  In each
case as specified in this Section 9.11, the Administrative Agent or the
Collateral Agent will (and each Lender irrevocably authorizes the Administrative
Agent and the Collateral Agent to), at the Borrowers’ expense, execute and
deliver to the applicable Loan Party such documents as the Borrowers may
reasonably request to evidence the release or subordination of such item of
Collateral from the assignment and security interest granted under the
Collateral Documents, or to evidence the release of such Guarantor from its
obligations under the Guaranty, in each case in accordance with the terms of the
Loan Documents and this Section 9.11.

     

    (b)           (i)  In
this clause (b):

     

    (A)           “Collateral Agent Claim” means
any amount which a Loan Party owes to the Collateral Agent under this clause;
and

     

    (B)           “Secured Party Claim” means any
amount which a Loan Party owes to a Secured Party under or in connection with
the Loan Documents.

     

    
      
        
           

        

        
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    (ii)            Unless
expressly provided to the contrary in any Loan Document, the Collateral Agent
holds:

     

    (A)           any
security created by a Collateral Document governed by Luxembourg
law;

     

    (B)           the
benefit of any Collateral Agent Claims; and

     

    (C)           any
proceeds of security,

     

    for the
benefit, and as the property, of the Secured Parties and so that they are not
available to the personal creditors of the Collateral Agent.

     

    (iii)           The
Collateral Agent will separately identify in its records the property rights
referred to in paragraph (ii) above.

     

    (iv)           Paragraphs
(ii) to (iii) above do not apply to any security created by a Collateral
Document governed by Dutch law.

     

    (v)            Each
Loan Party must pay the Collateral Agent, as an independent and separate
creditor, an amount equal to each Secured Party Claim on its due
date.

     

    (vi)           The
Collateral Agent may enforce performance of any Collateral Agent Claim in its
own name as an independent and separate right.  This includes any
suit, execution, enforcement of security, recovery of guarantees and
applications for and voting in respect of any kind of insolvency
proceeding.

     

    (vii)         
Each Secured Party must, at the request of the Collateral Agent, perform any act
required in connection with the enforcement of any Collateral Agent
Claim.  This includes joining in any proceedings as co-claimant with
the Collateral Agent.

     

    (viii)         Unless
the Collateral Agent fails to enforce a Collateral Agent Claim within a
reasonable time after its due date, a Secured Party may not take any action to
enforce the corresponding Secured Party Claim unless it is requested to do so by
the Collateral Agent.

     

    (ix)           Discharge
by a Loan Party of a Secured Party Claim will discharge the corresponding
Collateral Agent Claim in the same amount.

     

    (x)            Discharge
by a Loan Party of a Collateral Agent Claim will discharge the corresponding
Secured Party Claim in the same amount.

     

    (xi)           The
aggregate amount of the Collateral Agent Claims will never exceed the aggregate
amount of Secured Party Claims.

     

    (xii)          A
defect affecting a Collateral Agent Claim against a Loan Party will not affect
any Secured Party Claim.

     

    (xiii)        
A defect affecting a Secured Party Claim against a Loan Party will not affect
any Collateral Agent Claim.

     

    (xiv)         Each
Collateral Agent Claim is created on the understanding that and provided that
the Collateral Agent will:

     

    
      
        
           

        

        
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    (A)           share
the benefit, including in particular the proceeds of the Collateral Agent Claim,
with the other Secured Parties; and

     

    (B)           pay
those proceeds to the Secured Parties, in accordance with the Intercreditor
Agreement.

     

    (xv)          Each
party agrees that the Collateral Agent:

     

    (A)           will
be the joint and several creditor (together with the relevant Secured Party) of
each and every obligation of each Loan Party towards each Secured Party under
this Agreement; and

     

    (B)           will
have its own independent right to demand performance by each Loan Party of those
obligations.

     

    (xvi)         Discharge
by a Loan Party of any obligation owed to the Collateral Agent or another
Secured Party shall, to the same extent, discharge the corresponding obligation
owing to the other.

     

    (xvii)        Without
limiting or affecting the Collateral Agent’s rights against each Loan Party
(whether under this paragraph or under any other provision of the Loan
Documents), the Collateral Agent agrees with each other Secured Party (on a
several and divided basis) that, subject to the paragraph below, it will not
exercise its rights as joint and several creditor with a Secured Party except in
accordance with the Intercreditor Agreement.

     

    Nothing
in this clause (b) shall in any way limit the Collateral Agent’s right to act in
the protection or preservation of rights under or to enforce any Collateral
Document as contemplated by this Agreement and/or the relevant Collateral
Document (or to do any act reasonably incidental to any of the
above).

     

    (c)           The
Collateral Agent may accept, without enquiry, the title (if any) a Loan Party
may have to any asset over which security is intended to be created by any
Collateral Document.

     

    Section
9.12.     Other Agents; Arrangers and
Managers

     

    None of
the Persons identified on the facing page or signature pages of this Agreement
as a “syndication agent,” “joint bookrunner,” “transaction coordinator,”
“documentation agent” or “joint lead arranger” (in each case in their capacity
as such) shall have any right, power, obligation, liability, responsibility or
duty under this Agreement or in connection with any Loan Document or the
transactions contemplated thereby.  Without limiting the foregoing,
none of the Persons so identified shall have or be deemed to have any fiduciary
relationship with any Secured Party.  Each Secured Party acknowledges
that it has not relied, and will not rely, on any of the Persons so identified
in deciding to enter into the Loan Documents or in taking or not taking action
hereunder or thereunder and waives to the fullest extent permitted by Law all
claims it may have against the Persons so identified under or in connection with
the Loan Documents and the transactions contemplated thereby.

     

    Section
9.13.     Appointment of Supplemental
Agents

     

    (a)           It
is the purpose of this Agreement and the other Loan Documents that there shall
be no violation of any Law of any jurisdiction denying or restricting the right
of banking corporations or associations to transact business as agent or trustee
in such jurisdiction.  It is recognized that in case of litigation
under this Agreement or any of the other Loan Documents, and in particular in
case of the enforcement of any of the Loan Documents, or in case the
Administrative Agent or the Collateral Agent deems that by reason of any present
or future Law of any jurisdiction it may not exercise any of the rights, powers
or remedies granted herein or in any of the other Loan Documents or take any
other action which may be desirable or necessary in connection therewith, the
Administrative Agent and the Collateral Agent are hereby authorized to appoint
an additional individual or institution selected by the Administrative Agent or
the Collateral Agent in its sole discretion as a separate trustee, co-trustee,
administrative agent, collateral agent, administrative sub-agent or
administrative co-agent (any such additional individual or institution, a “Supplemental
Agent”).

     

    
      
        
           

        

        
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    (b)           In
the event that the Collateral Agent appoints a Supplemental Agent with respect
to any Collateral, (i) each and every right, power, privilege or duty expressed
or intended by this Agreement or any of the other Loan Documents to be exercised
by or vested in or conveyed to the Collateral Agent with respect to such
Collateral shall be exercisable by and vest in such Supplemental Agent to the
extent, and only to the extent, necessary to enable such Supplemental Agent to
exercise such rights, powers and privileges with respect to such Collateral and
to perform such duties with respect to such Collateral, and every covenant and
obligation contained in the Loan Documents and necessary to the exercise or
performance thereof by such Supplemental Agent shall run to and be enforceable
by either the Collateral Agent or such Supplemental Agent, and (ii) the
provisions of this Article IX and of Sections 10.04 and 10.05 that refer to the
Administrative Agent shall inure to the benefit of such Supplemental Agent and
all references therein to the Collateral Agent shall be deemed to be references
to the Collateral Agent and/or such Supplemental Agent, as the context may
require.

     

    (c)           Should
any instrument in writing from any Loan Party be required by any Supplemental
Agent so appointed by the Administrative Agent or the Collateral Agent for more
fully and certainly vesting in and confirming to him or it such rights, powers,
privileges and duties, such Loan Party shall execute, acknowledge and deliver
any and all such instruments promptly upon request by the Administrative Agent
or the Collateral Agent.  In case any Supplemental Agent, or a
successor thereto, shall die, become incapable of acting, resign or be removed,
all the rights, powers, privileges and duties of such Supplemental Agent, to the
extent permitted by Law, shall vest in and be exercised by the Administrative
Agent until the appointment of a new Supplemental Agent.

     

    Section
9.14.     Withholding
Tax

     

    To the
extent required by any applicable law, the Administrative Agent may withhold
from any payment to any Lender an amount equivalent to any applicable
withholding tax.  If the Internal Revenue Service or any other
Governmental Authority asserts a claim that the Administrative Agent did not
properly withhold tax from amounts paid to or for the account of any Lender or
Participant for any reason (including because the appropriate form was not
delivered or not properly executed, or because such Lender or Participant failed
to notify the Administrative Agent of a change in circumstance that rendered the
exemption from, or reduction of, withholding tax ineffective), such Lender and
Participant shall indemnify and hold harmless the Administrative Agent (to the
extent that the Administrative Agent has not already been reimbursed by the
Borrowers and without limiting the obligation of the Borrowers to do so) for all
amounts paid, directly or indirectly, by the Administrative Agent as tax or
otherwise, including any interest, additions to tax or penalties thereto,
together with all expenses incurred, including legal expenses and any other
out-of-pocket expenses.

     

    
      
        
           

        

        
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    ARTICLE
X.

     

    Miscellaneous

     

    Section
10.01    Amendments,
Etc.

     

    Except as
otherwise set forth in this Agreement, 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 such Loan Party and each such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given; provided that no
such amendment, waiver or consent shall:

     

    (a)      extend
or increase the Commitment of any Lender without the written consent of each
Lender adversely affected thereby (it being understood that a waiver of (or
amendment to the terms of ) any condition precedent or of any Default, mandatory
prepayment or mandatory reduction of the Commitments shall not constitute an
extension or increase of any Commitment of any Lender);

     

    (b)      postpone
any date scheduled for, or reduce or forgive the amount of, any payment of
principal or interest under Section 2.07 or 2.08 without the written consent of
each Lender adversely affected thereby (it being understood that the waiver of
(or amendment to the terms of) any mandatory prepayment of the Term Loans shall
not constitute a postponement of any date scheduled for the payment of principal
or interest and that any change to the definition of “First Lien Senior Secured
Leverage Ratio” or in the component definitions thereof shall not constitute a
reduction or forgiveness of any interest);

     

    (c)       reduce
or forgive the principal of, or the rate of interest specified herein on, any
Loan or L/C Borrowing or (subject to clause (i) of the second proviso to this
Section 10.01) any fees or other amounts payable hereunder or under any other
Loan Document (or change the timing of payments of such fees or other amounts)
without the written consent of each Lender holding such Loan, L/C Borrowing or
to whom such fee or other amount is owed (it being understood that any change to
the definition of “First Lien Senior Secured Leverage Ratio” or in the component
definitions thereof shall not constitute a reduction or forgiveness of any
interest);

     

    (d)      change
any provision of this Section 10.01, the definition of “Required Lenders,”
“Required Class Lenders” or “Pro Rata Share” or Section 2.12(a), 2.13 or 8.03
without the written consent of each Lender affected thereby;

     

    (e)      release
all or substantially all of the Collateral in any transaction or series of
related transactions (for the avoidance of doubt no transaction permitted by
Section 7.05 as in effect on the Original Closing Date shall be deemed a release
of all or substantially all of the Collateral) without the written consent of
each Lender;

     

    (f)       release
all or substantially all of the aggregate value of the Guarantees (for the
avoidance of doubt no release of Guarantees permitted by the terms of this
Agreement as in effect on the Original Closing Date shall be deemed a release of
all or substantially all of the aggregate value of the Guarantees) without the
written consent of each Lender;

     

    (g)      change
the order of maturity for repayments set forth in Section 2.05(b)(vi) or
(b)(vii) without the written consent of each Lender affected
thereby;

     

    
      
        
           

        

        
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    (h)      amend,
modify or waive Section 4.02 (including amendment, modification or waiver of any
representation or warranty referenced in Section 4.02(a)) in any manner which
would permit a Credit Extension of Revolving Credit Loans after giving effect to
such amendment, waiver or modification and would not permit such a Credit
Extension before giving effect to such amendment, waiver or modification; in
each case without the written consent of the Required Class Lenders with respect
to the relevant Revolving Credit Commitments;

     

    (i)        without
the written consent of the Required Class Lenders, adversely affect the rights
of a Class in respect of payments or Collateral or Guarantees in a manner
different to the effect of such amendment, waiver or consent on any other
Class;

     

    (j)        amend any
provision in Section 2.05(a)(iii) or the definition of “Applicable Premium” or
“Treasury Rate” or Section 2.05(b)(viii) without the written consent of each
Tranche B-3 Term Loan Lender affected thereby; or

     

    (k)       amend
any provision in Section 2.05(a)(iv) or Section 2.05(b)(viii) without the
written consent of each Tranche B-2 Term Loan Lender affected
thereby;

     

    and provided further that (i) no
amendment, waiver or consent shall, unless in writing and signed by each L/C
Issuer in addition to the Lenders required above, affect the rights or duties of
an L/C Issuer under this Agreement or any Letter of Credit Application relating
to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver
or consent shall, unless in writing and signed by a Swing Line Lender in
addition to the Lenders required above, affect the rights or duties of such
Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent
shall, unless in writing and signed by the Tranche A Lenders holding more than
50% of the Tranche A Term Loan Commitments or 50% of the principal amount of any
Tranche A Term Loans outstanding, as applicable, in addition to the Lenders
required above, affect the rights or duties of such Tranche A Term Lenders (but
not the Tranche B Term Lenders) under this Agreement, (iv) no amendment, waiver
or consent shall, unless in writing and signed by the Tranche B Term Lenders
holding more than 50% of the Tranche B Term Loan Commitments or 50% of the
principal amount of any Tranche B Term Loans outstanding in addition to the
Lenders required above, affect the rights or duties of such Tranche B Term
Lenders (but not the Tranche A Term Lenders) under this Agreement, (v) no
amendment, waiver or consent shall, unless in writing and signed by the
Administrative Agent or the Collateral Agent, as applicable, in addition to the
Lenders required above, affect the rights or duties of, or any fees or other
amounts payable to, the Administrative Agent or the Collateral Agent, as
applicable, under this Agreement or any other Loan Document; and (vi) Section
10.07(h) may not be amended, waived or otherwise modified without the consent of
each Granting Lender all or any part of whose Loans are being funded by an SPC
at the time of such amendment, waiver or other modification.

     

    Notwithstanding
the foregoing, this Agreement may be amended (or amended and restated) with only
the written consent of the Administrative Agent and the Loan Parties (and not
any other Lender, the Required Lenders or the Required Class Lenders) to
exercise any rights under the Fee Letter.

     

    Notwithstanding
the foregoing, this Agreement may be amended (or amended and restated) with the
written consent of the Required Lenders, the Administrative Agent and the
Borrowers (a) to add one or more additional credit facilities to this Agreement
and to permit the extensions of credit from time to time outstanding thereunder
and the accrued interest and fees in respect thereof to share ratably in the
benefits of this Agreement and the other Loan Documents with the Term Loans and
the Revolving Credit Loans and the accrued interest and fees in respect thereof
and (b) to include appropriately the Lenders holding such credit facilities in
any determination of the Required Lenders.  Notwithstanding the
foregoing, this Agreement may be amended to adjust the borrowing mechanics
related to Swing Line Loans with only the written consent of the Administrative
Agent, the applicable Swing Line Lender(s) and the Borrowers so long as the
obligations of the Primary Revolving Credit Lenders and, if applicable, the
other Swing Line Lender are not affected thereby.

     

    
      
        
           

        

        
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    In
addition, notwithstanding the foregoing, this Agreement may be amended with the
written consent of the Administrative Agent, the Borrowers’ Agent and the
Lenders providing the relevant Replacement U.S. Tranche A Dollar Term Loans,
Replacement U.S. Tranche B-1 Dollar Term Loans, Replacement U.S. Tranche B-2
Dollar Term Loans, Replacement U.S. Tranche B-3 Dollar Term Loans, Replacement
Dutch Tranche A Dollar Term Loans, Replacement German Tranche B-1 Euro Term
Loans, Replacement German Tranche B-2 Euro Term Loans or Replacement German
Tranche B-3 Euro Term Loans (as defined below) to permit the refinancing of all
outstanding U.S. Tranche A Dollar Term Loans, U.S. Tranche B-1 Dollar Term
Loans, U.S. Tranche B-2 Dollar Term Loans, U.S. Tranche B-3 Dollar Term Loans,
Dutch Tranche A Dollar Term Loans, German Tranche B-1 Euro Term Loans, German
Tranche B-2 Euro Term Loans or German Tranche B-3 Euro Term Loans (any such
refinanced Loans, “Refinanced
Loans”), with a U.S. Tranche A Dollar Term Loan tranche denominated in
Dollars, a U.S. Tranche B-1 Dollar Term Loan tranche denominated in Dollars, a
U.S. Tranche B-2 Dollar Term Loan tranche denominated in Dollars, a U.S. Tranche
B-3 Dollar Term Loan tranche denominated in Dollars, a Dutch Tranche A Dollar
Term Loan tranche denominated in Dollars, a German Tranche B-1 Euro Term Loan
tranche denominated in Euros, a German Tranche B-2 Euro Term Loan tranche
denominated in Euros or a German Tranche B-3 Euro Term Loan tranche denominated
in Euros, respectively, hereunder (any such replacement Loans, “Replacement Loans”); provided that (a) the
aggregate principal amount of such Replacement Loans shall not exceed the
aggregate principal amount of the corresponding tranche of Refinanced Loans, (b)
the Applicable Rate for such Replacement Loans shall not be higher than the
Applicable Rate for the corresponding tranche of Refinanced Loans, (c) the
Weighted Average Life to Maturity of such Replacement Loans, Replacement U.S.
Tranche B-1 Loans shall not be shorter than the Weighted Average Life to
Maturity of the corresponding tranche of Refinanced Loans at the time of such
refinancing (except to the extent of nominal amortization for periods where
amortization has been eliminated as a result of prepayment of the applicable
Term Loans) and (d) all other terms applicable to such Replacement Loans shall
be substantially identical to, or no less favorable to the Lenders providing
such Replacement Loans than those applicable to the corresponding tranche of
Refinanced Loans, except to the extent necessary to provide for covenants and
other terms applicable to any period after the latest final maturity of the
corresponding tranche of Loans in effect immediately prior to such
refinancing.

     

    Notwithstanding
anything to the contrary contained in this Section 10.01, guarantees, collateral
security documents and related documents executed by Foreign Subsidiaries in
connection with this Agreement may be in a form reasonably determined by the
Collateral Agent and may be, together with this Agreement, amended and waived
with the consent of the Collateral Agent at the request of the Borrowers’ Agent
without the need to obtain the consent of any other Lender if such amendment or
waiver is delivered in order (i) to comply with the local Law or advice of local
counsel, (ii) to cure ambiguities or defects or (iii) to cause such guarantee,
collateral security document or other document to be consistent with this
Agreement and the other Loan Documents.

     

    Section
10.02.   Notices and Other
Communications; Facsimile Copies

     

    (a)           General.  Unless
otherwise expressly provided herein, all notices and other communications
provided for hereunder or under any other Loan Document shall be in writing
(including by facsimile transmission).  All such written notices shall
be mailed, faxed or delivered  to the applicable address, facsimile
number or electronic mail address, and all notices and other communications
expressly permitted hereunder to be given by telephone shall be made to the
applicable telephone number, as follows:

     

    
      
        
           

        

        
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    (i)       if
to the Borrowers’ Agent or the Administrative Agent, the Collateral Agent, or an
L/C Issuer or a Swing Line Lender, to the address, facsimile number, electronic
mail address or telephone number specified for such Person on Schedule 10.02 or to
such other address, facsimile number, electronic mail address or telephone
number as shall be designated by such party in a notice to the other parties;
and

     

    (ii)      if
to any other Lender, to the address, facsimile number, electronic mail address
or telephone number specified in its Administrative Questionnaire or to such
other address, facsimile number, electronic mail address or telephone number as
shall be designated by such party in a notice to the Borrowers’ Agent and the
Administrative Agent, the Collateral Agent, or an L/C Issuer or a Swing Line
Lender.

     

    All such
notices and other communications shall be deemed to be given or made upon the
earlier to occur of (i) actual receipt by the relevant party hereto and (ii) (A)
if delivered by hand or by courier, when signed for by or on behalf of the
relevant party hereto; (B) if delivered by mail, four (4) Business Days after
deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent
and receipt has been confirmed by telephone; and (D) if delivered by electronic
mail (which form of delivery is subject to the provisions of Section 10.02(c)),
when delivered; provided that notices and
other communications to the Administrative Agent, the Collateral Agent, an L/C
Issuer and a Swing Line Lender pursuant to Article II shall not be effective
until actually received by such Person.  In no event shall a voice
mail message be effective as a notice, communication or confirmation
hereunder.

     

    (b)           Effectiveness of Facsimile Documents
and Signatures.  Loan Documents may be transmitted and/or
signed by facsimile.  The effectiveness of any such documents and
signatures shall, subject to applicable Law, have the same force and effect as
manually signed originals and shall be binding on all Loan Parties, the Agents
and the Lenders.

     

    (c)           Reliance by Agents and
Lenders.  The Administrative Agent, the Collateral Agent and
the Lenders shall be entitled to rely and act upon any notices (including
telephonic Committed Loan Notices and Swing Line Loan Notices) purportedly given
by or on behalf of any Borrower 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 Borrowers
shall indemnify each Agent-Related Person and each Lender from all losses,
costs, expenses and liabilities resulting from the reliance by such Person on
each notice purportedly given by or on behalf of any Borrower in the absence of
gross negligence or willful misconduct.  All telephonic notices to the
Administrative Agent or Collateral Agent may be recorded by the Administrative
Agent or the Collateral Agent, and each of the parties hereto hereby consents to
such recording.

     

    Section
10.03.   No Waiver; Cumulative
Remedies

     

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

     

    
      
        
           

        

        
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    Section
10.04.   Attorney Costs and
Expenses

     

    Each
Borrower agrees (a) if the Original Closing Date occurs, to pay or reimburse the
Administrative Agent, the Collateral Agent and the Arrangers for all reasonable
invoiced out-of-pocket costs and expenses and any taxes (other than Taxes
indemnification, which is governed by Section 3.01) incurred in connection with
the preparation, negotiation, syndication and execution of this Agreement and
the other Loan Documents, and any amendment, waiver, consent or other
modification of the provisions hereof and thereof (whether or not the
transactions contemplated thereby are consummated), and the consummation and
administration of the transactions contemplated hereby and thereby, including
all Attorney Costs, and (b) to pay or reimburse the Administrative Agent, the
Collateral Agent, the Arrangers and each Lender for all invoiced out-of-pocket
costs and expenses incurred in connection with the enforcement (whether through
negotiations, legal proceedings or otherwise) of any rights or remedies under
this Agreement or the other Loan Documents (including all such costs and
expenses incurred during any legal proceeding, including any proceeding under
any Debtor Relief Law, and including all respective Attorney Costs of counsel to
the Administrative Agent and the Collateral Agent).  The foregoing
costs and expenses shall include all reasonable search, filing, recording and
title insurance charges and fees related thereto, and other (reasonable, in the
case of Section 10.04(a)) out-of-pocket expenses incurred by any
Agent.  The agreements in this Section 10.04 shall survive the
termination of the Aggregate Commitments and repayment of all other
Obligations.  All amounts due under this Section 10.04 shall be paid
promptly after receipt by the Borrowers’ Agent of an invoice relating thereto
setting forth such expenses in reasonable detail.  If any Loan Party
fails to pay when due any costs, expenses, taxes or other amounts payable by it
hereunder or under any Loan Document, such amount may be paid on behalf of such
Loan Party by the Administrative Agent in its sole discretion.

     

    Section
10.05.   Indemnification by the
Borrowers

     

    Whether
or not the transactions contemplated hereby are consummated, the Borrowers
shall, jointly and severally, indemnify and hold harmless each Arranger,
Agent-Related Person, each Lender and their respective Affiliates, and
directors, officers, partners, employees, counsel, agents, trustees, investment
advisors and attorneys-in-fact of each of the foregoing (collectively, the
“Indemnitees”) from and
against any and all liabilities, obligations, losses, damages, penalties,
claims, demands, actions, judgments, suits, costs, expenses and disbursements
(including attorney costs) of any kind or nature whatsoever which may at any
time be imposed on, incurred by or asserted against any such Indemnitee in any
way relating to or arising out of or in connection with (a) the execution,
delivery, enforcement, performance or administration of any Loan Document or any
other agreement, letter or instrument delivered in connection with the
transactions contemplated thereby or the consummation of the transactions
contemplated thereby, (b) any Commitment, Loan or Letter of Credit or the
use or proposed use of the proceeds therefrom including any refusal by an 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, or (c) any actual or alleged presence or Release
of Hazardous Materials on, at, under or from any property or facility currently
or formerly owned, leased or operated by the Loan Parties or any Subsidiary, or
any Environmental Liability related in any way to the Loan Parties or any
Subsidiary, or (d) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory (including any investigation of, preparation
for, or defense of any pending or threatened claim, investigation, litigation or
proceeding) and regardless of whether any Indemnitee is a party thereto (all the
foregoing, collectively, the “Indemnified Liabilities”), in
all cases, whether or not caused by or arising, in whole or in part, out of the
negligence of the Indemnitee; provided that such indemnity
shall not, as to any Indemnitee, be available to the extent that such
liabilities, obligations, losses, damages, penalties, claims, demands, actions,
judgments, suits, costs, expenses or disbursements resulted from the gross
negligence, bad faith or willful misconduct of such Indemnitee or of any
affiliate, director, officer, partner, employee, agent or attorney-in-fact of
such Indemnitee, as determined by the final judgment of a court of competent
jurisdiction.  No Indemnitee shall be liable for any damages arising
from the use by others of any information or other materials obtained through
IntraLinks or other similar information transmission systems in connection with
this Agreement, nor shall any Indemnitee or the Borrowers or any Subsidiary have
any liability for any special, punitive, indirect or consequential damages
relating to this Agreement or any other Loan Document or arising out of its
activities in connection herewith or therewith (whether before or after the
Original Closing Date).  In the case of an investigation, litigation
or other proceeding to which the indemnity in this Section 10.05 applies, such
indemnity shall be effective whether or not such investigation, litigation or
proceeding is brought by any Loan Party, any Subsidiary of any Loan Party, any
Loan Party’s directors, stockholders or creditors or an Indemnitee or any other
Person, whether or not any Indemnitee is otherwise a party thereto and whether
or not any of the transactions contemplated hereunder or under any of the other
Loan Documents are consummated.  All amounts due under this Section
10.05 shall be paid within ten (10) Business Days after demand therefor; provided, however, that such Indemnitee
shall promptly refund such amount to the extent that there is a final judicial
or arbitral determination that such Indemnitee was not entitled to
indemnification rights with respect to such payment pursuant to the express
terms of this Section 10.05.  The agreements in this Section 10.05
shall survive the resignation of the Administrative Agent or the Collateral
Agent, the replacement of any Lender, the termination of the Aggregate
Commitments and the repayment, satisfaction or discharge of all the other
Obligations.  This Section 10.05 shall not apply with respect to any
Taxes (including Indemnified Taxes or any Other Taxes indemnifiable under
Section 3.01) other than Taxes that represent liabilities, obligations, losses,
damages, etc. arising from any non-Tax claim.

     

    
      
        
           

        

        
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    Section
10.06.   Payments Set
Aside

     

    To the
extent that any payment by or on behalf of any Borrower is made to any Agent or
any Lender, or any Agent 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 such Agent 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, to the fullest extent possible under provisions
of applicable Law, 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
severally agrees to pay to the Administrative Agent upon demand its applicable
share of any amount so recovered from or repaid by any 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 applicable Overnight Rate from time to time in
effect.

     

    Section
10.07.   Successors and
Assigns

     

    (a)           The
provisions of this Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns permitted hereby,
except that no Borrower may assign or otherwise transfer any of its rights or
obligations hereunder without the prior written consent of each Lender (except
as permitted by Section 7.04) and no Lender may assign or otherwise transfer any
of its rights or obligations hereunder except (i) to an assignee pursuant to an
assignment made in accordance with the provisions of Section 10.07(b) (an “Assignee”), (ii) by way of
participation in accordance with the provisions of Section 10.07(e), (iii) by
way of pledge or assignment of a security interest subject to the restrictions
of Section 10.07(g) or (iv) to an SPC in accordance with the provisions of
Section 10.07(h) (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 Section 10.07(e) and, to the extent expressly
contemplated hereby, the Indemnitees) any legal or equitable right, remedy or
claim under or by reason of this Agreement.

     

    
      
        
           

        

        
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    (b)           (i)  Subject
to the conditions set forth in paragraphs (b)(ii) below, any Lender may assign
to one or more Assignees, after consultation with (but not the consent of) the
Company (provided that
no such consultation of the Company shall be required for an assignment to a
Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default
under Section 8.01(a), (f) or (g) has occurred and is continuing, any Assignee),
all or a portion of its rights and obligations under this Agreement (including
all or a portion of its Commitment and the Loans at the time owing to it) with
the prior written consent (such consent not to be unreasonably withheld or
delayed) of:

     

    (A)     the
Administrative Agent;

     

    (B)      the
applicable L/C Issuer at the time of such assignment (including with respect to
assignees with a corporate rating of less than A by S&P and A2 by Moody’s,
assignees who are not domiciled in a country that is a member state of the
Organization for Economic Cooperation and Development and assignments in an
amount greater than $25,000,000 (or its Alternative Currency equivalent)), provided that no consent of
the L/C Issuers shall be required for any assignment not related to Revolving
Credit Commitments or Revolving Credit Exposure or any assignment to an Agent or
an Affiliate of an Agent; and

     

    (C)      the
Swing Line Lenders; provided that no consent of a
Swing Line Lender shall be required for any assignment not related to Primary
Revolving Credit Commitments or Revolving Credit Exposure or any assignment to
an Agent or an Affiliate of an Agent.

     

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

     

    (A)     except
in the case of an assignment to a Lender, an Affiliate of a Lender or an
Approved Fund or an assignment of the entire remaining amount of the assigning
Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans
of the assigning Lender subject to each such assignment (determined as of the
date the Assignment and Assumption with respect to such assignment is delivered
to the Administrative Agent), shall be in a minimum amount of $2,500,000,
€2,500,000 or £2,500,000 (in the case of each Revolving Credit Loan) and
$1,000,000 or €1,000,000 (in the case of each Term Loan), and shall be in
increments of $2,500,000, €2,500,000 or £2,500,000 (in the case of each
Revolving Credit Loan) and $1,000,000 or €1,000,000 as applicable (in the case
of each Term Loan), in excess thereof unless each of the Company (provided that no such consent
of the Company shall be required if an Event of Default under Section 8.01(a),
(f) or (g) has occurred and is continuing) and the Administrative Agent
otherwise consents, provided that such amounts
shall be aggregated in respect of each Lender and its Affiliates or Approved
Funds, if any;

     

    (B)      the
parties to each assignment shall execute and deliver to the Administrative Agent
an Assignment and Assumption, together with a processing and recordation fee of
$3,500; provided that
only one such fee shall be payable in the event of simultaneous assignments to
or from two or more Approved Funds;

     

    (C)      the
Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent
an Administrative Questionnaire; and

     

    
      
        
           

        

        
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    (D)      all
Assignees of Loans to the Company shall qualify as “professional market parties”
within the meaning of the Exemption Regulation dated June 26, 2002 (as amended
from time to time) of the Ministry of Finance in The Netherlands, as promulgated
in connection with the Dutch Banking Act.

     

    This
paragraph (b) shall not prohibit any Lender from assigning all or a portion of
its rights and obligations among separate Facilities on a non-pro rata basis
among such Facilities.

     

    (c)           Subject
to acceptance and recording thereof by the Administrative Agent pursuant to
Section 10.07(d), 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, 10.04 and 10.05 with respect to facts and circumstances
occurring prior to the effective date of such assignment).  Upon
request, and the surrender by the assigning Lender of its Note, if any, the
relevant Borrower or Borrowers (at their 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
paragraph (c) 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
Section 10.07(e).

     

    (d)           The
Administrative Agent, acting solely for this purpose as an agent of the
Borrowers, shall maintain at the Administrative Agent’s 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 (and related interest amounts) of the Loans, L/C Obligations (specifying
the Unreimbursed Amounts), L/C Borrowings and the amounts due under Section
2.03, owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”).  The
entries in the Register shall be conclusive absent manifest error, and the
Borrowers, the Agents and the Lenders shall treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for
all purposes of this Agreement, notwithstanding notice to the
contrary.  The Register shall be available for inspection by the
Borrowers’ Agent and any Agent, at any reasonable time and from time to time
upon reasonable prior notice.

     

    (e)           Any
Lender may at any time, sell participations to any Person (other than a natural
Person) (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 Borrowers, the Agents and the
other Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this
Agreement.  Any agreement 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 the other Loan Documents and to approve any
amendment, modification or waiver of any provision of this Agreement or the
other Loan Documents; 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 (a)-(c) and (e)-(f) of the first proviso to Section 10.01 that requires
the affirmative vote of such Lender.  Subject to Section 10.07(f), the
Borrowers agree that each Participant shall be entitled to the benefits (subject
to the requirements and limitations) 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 Section 10.07(c).  To the extent permitted by applicable
Law, each Participant also shall be entitled to the benefits of Section 10.09 as
though it were a Lender; provided that such
Participant agrees to be subject to Sections 2.11(c) and 2.13 as though it were
a Lender.  Each Lender that sells a participation with respect to a
Commitment or Loan to the U.S. Borrower shall, acting solely for this purpose as
a non-fiduciary agent of the U.S. Borrower, maintain a register on which it
enters the name and address of each Participant and the principal amounts (and
related interest amounts) of each Participant’s interest in the Commitment
and/or Loan (the “Participant
Register”).  The entries in the Participant Register shall be
conclusive, absent manifest error, and such Lender shall treat each Person whose
name is recorded in the Participant Register as the owner of such participation
for all purposes of this Agreement notwithstanding any notice to the
contrary.

     

    
      
        
           

        

        
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    (f)           A
Participant shall not be entitled to receive any greater payment under Section
3.01, 3.04 or 3.05 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 Company’s prior
written consent (not to be unreasonably withheld or delayed).

     

    (g)           Any
Lender may, without the consent of the Borrowers or the Administrative Agent, at
any time pledge or assign a security interest in all or any portion of its
rights under this Agreement to secure obligations of such Lender, including any
pledge or assignment to secure obligations to a Federal Reserve Bank, and this
Section 10.07 shall not apply to any such pledge or assignment of a security
interest; provided that
no such pledge or assignment of a security interest shall release a Lender from
any of its obligations hereunder or substitute any such pledgee or assignee for
such Lender as a party hereto.  In order to facilitate such pledge or
assignment or for any other reason, the Borrowers hereby agree that, upon
request of any Lender at any time and from time to time after any Borrower has
made its initial borrowing hereunder, the Borrower shall provide to such Lender,
at such Borrower’s own expense, a promissory note, substantially in the form of
Exhibit C-1,
C-2, C-3-I, C-3-II, C-3-III, C-4-I, C-4-II, C-4-III, C-5, C-6, or C-7  to
this Agreement, evidencing the Dutch Tranche A Dollar Term Loans, U.S. Tranche A
Dollar Term Loans, U.S. Tranche B Dollar Term Loans, German Tranche B Euro Term
Loans, Revolving Credit Loans and Swingline Loans, respectively, owing to such
Lender.  Notwithstanding anything to the contrary contained herein,
any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle identified as
such in writing from time to time by the Granting Lender to the Administrative
Agent and the Company (an “SPC”) the option to provide
all or any part of any Loan that such Granting Lender would otherwise be
obligated to make pursuant to this Agreement; provided that (i) nothing
herein shall constitute a commitment by any SPC to fund any Loan, and (ii) if an
SPC elects not to exercise such option or otherwise fails to make all or any
part of such Loan, the Granting Lender shall be obligated to make such Loan
pursuant to the terms hereof.  Each party hereto hereby agrees that
(i) an SPC shall be entitled to the benefits of Sections 3.01, 3.04 and
3.05 (subject to the requirements and limitations therein), but neither the
grant to any SPC nor the exercise by any SPC of such option shall increase the
costs or expenses or otherwise increase or change the obligations of the
Borrowers under this Agreement (including its obligations under Section 3.01,
3.04 or 3.05) unless the grant to the SPC was made with the Company’s prior
written consent (not to be unreasonably withheld or delayed), (ii) no SPC shall
be liable for any indemnity or similar payment obligation under this Agreement
for which a Lender would be liable, (iii) the Granting Lender shall for all
purposes, including the approval of any amendment, waiver or other modification
of any provision of any Loan Document, remain the lender of record hereunder and
(iv) the Granting Lender shall keep a register substantially in the form of
Participant Register described above of each SPC which has funded all or any
part of any Loan that such Lender would have otherwise been obligated to make to
the Borrowers pursuant to this Agreement.  The making of a Loan by an
SPC hereunder shall utilize the Commitment of the Granting Lender to the same
extent, and as if, such Loan were made by such Granting
Lender.  Notwithstanding anything to the contrary contained herein,
any SPC may (i) with notice to, but without prior consent of the Company and the
Administrative Agent and with the payment of a processing fee of $3,500, assign
all or any portion of its right to receive payment with respect to any Loan to
the Granting Lender and (ii) disclose on a confidential basis any non-public
information relating to its funding of Loans to any rating agency, commercial
paper dealer or provider of any surety or Guarantee or credit or liquidity
enhancement to such SPC.

     

    
      
        
           

        

        
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    (h)           Notwithstanding
anything to the contrary contained herein, without the consent of the Company or
the Administrative Agent, (1) any Lender may in accordance with applicable Law
create a security interest in all or any portion of the Loans owing to it and
the Note, if any, held by it and (2) any Lender that is a Fund may create a
security interest in all or any portion of the Loans owing to it and the Note,
if any, held by it to the trustee for holders of obligations owed, or securities
issued, by such Fund as security for such obligations or securities; provided that unless and
until such trustee actually becomes a Lender in compliance with the other
provisions of this Section 10.07, (i) no such pledge shall release the pledging
Lender from any of its obligations under the Loan Documents and (ii) such
trustee shall not be entitled to exercise any of the rights of a Lender under
the Loan Documents even though such trustee may have acquired ownership rights
with respect to the pledged interest through foreclosure or
otherwise.

     

    (i)            
Notwithstanding anything to the contrary contained herein, any L/C Issuer or
Swing Line Lender may, upon thirty (30) days’ notice to the Company and the
Lenders, resign as an L/C Issuer or Swing Line Lender, respectively; provided that on or prior to
the expiration of such 30-day period with respect to such resignation, the
relevant L/C Issuer or Swing Line Lender shall have identified a successor L/C
Issuer or Swing Line Lender reasonably acceptable to the Company willing to
accept its appointment as successor L/C Issuer or Swing Line Lender, as
applicable.  In the event of any such resignation of an L/C Issuer or
Swing Line Lender, the Company shall be entitled to appoint from among the
Lenders willing to accept such appointment a successor L/C Issuer or Swing Line
Lender hereunder; provided that no failure by
the Company to appoint any such successor shall affect the resignation of the
relevant L/C Issuer or the relevant Swing Line Lender, as the case may be,
except as expressly provided above.  If an L/C Issuer resigns as an
L/C Issuer, it shall retain all the rights and obligations of an L/C Issuer
hereunder with respect to all Letters of Credit outstanding as of the effective
date of its resignation as an 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 a Swing Line Lender resigns as Swing Line Lender, it
shall retain all the rights of a 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, Eurocurrency Rate Loans or fund risk participations in outstanding
Swing Line Loans pursuant to Section 2.04(c).

     

    (j)            
In case of a transfer by way of novation:

     

    (1)       in
accordance with Articles 1278-1281 of the French Civil Code, the transferring
Lender maintains all its rights and privileges arising under any Collateral
Documents governed by French law and any Guarantee under this Agreement for the
benefit of the transferee; and

     

    (2)       each
party to this Agreement (other than the transferring Lender and the transferee)
irrevocably authorizes the Administrative Agent to execute any document
evidencing such transfer on its behalf.

     

    Section
10.08.    Confidentiality

     

    Each of
the Agents and the Lenders agrees to maintain the confidentiality of the
Information, except that Information may be disclosed (a) to its Affiliates and
its and its Affiliates’ directors, officers, employees, trustees, investment
advisors and agents, including accountants, legal counsel and other advisors (it
being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep
such Information confidential) solely for purposes of this Agreement and the
Transactions contemplated hereby; (b) to the extent requested by any
Governmental Authority; (c) to the extent required by applicable Law or
regulations or by any subpoena or similar legal process; (d) to any other party
to this Agreement; (e) subject to an agreement containing provisions
substantially the same as those of this Section 10.08 (or as may otherwise be
reasonably acceptable to the Company), to any pledgee referred to in Section
10.07(g), counterparty to a Swap Contract, Assignee of or Participant in, or any
prospective Assignee of or Participant in, any of its rights or obligations
under this Agreement; (f) with the written consent of the Company; (g) to the
extent such Information becomes publicly available other than as a result of a
breach of this Section 10.08; (h) to any Governmental Authority or examiner
(including the National Association of Insurance Commissioners or any other
similar organization) regulating any Lender; (i) to any rating agency when
required by it (it being understood that, prior to any such disclosure, such
rating agency shall undertake to preserve the confidentiality of any Information
relating to Loan Parties and their Subsidiaries received by it from such
Lender); or (j) in connection with the exercise of any remedies hereunder, under
any other Loan Document or any action or proceeding relating to this Agreement
or any other Loan Document or the enforcement or rights hereunder or
thereunder.  In addition, the Agents and the Lenders may disclose the
existence of this Agreement and publicly available information about this
Agreement to market data collectors, similar service providers to the lending
industry, and service providers to the Agents and the Lenders in connection with
the administration and management of this Agreement, the other Loan Documents,
the Commitments, and the Credit Extensions.  For the purposes of this
Section 10.08, “Information” means all
information received from the Loan Parties relating to any Loan Party or any
Subsidiary or its business, other than any such information that is publicly
available to any Agent or any Lender prior to disclosure by any Loan Party other
than as a result of a breach of this Section 10.08; provided that, in the case of
information received from a Loan Party after the Original Closing Date, such
information is clearly identified at the time of delivery as confidential or is
delivered pursuant to Section 6.01, 6.02 or 6.03.

     

    
      
        
           

        

        
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    Section 10.09.   Setoff

     

    In
addition to any rights and remedies of the Lenders provided by Law, upon the
occurrence and during the continuance of any Event of Default, each Lender and
its Affiliates (the Administrative Agent and the Collateral Agent, in respect of
any unpaid fees, costs and expenses payable hereunder) is authorized at any time
and from time to time, without prior notice to the Company and the Borrowers,
any such notice being waived by the Company and the Borrowers (on its own behalf
and on behalf of each Loan Party and each of its Subsidiaries) to the fullest
extent permitted by applicable Law, to setoff and apply any and all deposits
(general or special, time or demand, provisional or final) at any time held by,
and other Indebtedness at any time owing by, such Lender and its Affiliates, the
Administrative Agent or the Collateral Agent to or for the credit or the account
of the respective Loan Parties and their Subsidiaries against any and all
Obligations owing to such Lender and its Affiliates or the Collateral Agent
hereunder or under any other Loan Document, now or hereafter existing,
irrespective of whether or not such Agent or such Lender or Affiliate shall have
made demand under this Agreement or any other Loan Document and although such
Obligations may be contingent or unmatured or denominated in a currency
different from that of the applicable deposit or Indebtedness.  Each
Lender agrees promptly to notify the Borrowers and the Administrative Agent
after any such setoff and application made by such Lender; provided that the failure to
give such notice shall not affect the validity of such setoff and
application.  The rights of the Administrative Agent, the Collateral
Agent and each Lender under this Section 10.09 are in addition to other rights
and remedies (including other rights of setoff) that the Administrative Agent,
the Collateral Agent and such Lender may have.

     

    
      
        
           

        

        
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    Section
10.10.   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
any 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 applicable
Borrower.  In determining whether the interest contracted for,
charged, or received by an 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.

     

    Section
10.11.   Counterparts

     

    This
Agreement and each other Loan Document (where applicable under the relevant
laws) may be executed in one or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same
instrument.  Delivery by telecopier of an executed counterpart of a
signature page to this Agreement and each other Loan Document shall be effective
as delivery of an original executed counterpart of this Agreement and such other
Loan Document.  The Agents may also require that any such documents
and signatures delivered by telecopier be confirmed by a manually signed
original thereof; provided that the failure to
request or deliver the same shall not limit the effectiveness of any document or
signature delivered by telecopier.

     

    Section
10.12.   Integration

     

    This
Agreement, together with the other Loan Documents, comprises the complete and
integrated agreement of the parties on the subject matter hereof and thereof and
supersedes all prior agreements, written or oral, on such subject matter except
for any such prior agreements which by the express terms thereof survive the
execution of this Agreement.  In the event of any conflict between the
provisions of this Agreement and those of any other Loan Document, the
provisions of this Agreement shall control unless, in the case of such other
Loan Documents governed by any Law other than a state of the United States, such
control would result, such other Loan Document being invalid or unenforceable,
in which case, the relevant provision of the Loan Document will prevail; provided that the inclusion
of supplemental rights or remedies in favor of the Agents or the Lenders in any
other Loan Document shall not be deemed a conflict with this
Agreement.  Each Loan Document was drafted with the joint
participation of the respective parties thereto and shall be construed neither
against nor in favor of any party, but rather in accordance with the fair
meaning thereof.

     

    Section
10.13.   Survival of Representations
and Warranties

     

    Such
representations and warranties have been or will be relied upon by each Agent
and each Lender, regardless of any investigation made by any Agent or any Lender
or on their behalf and notwithstanding that any 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 of the time made as long as any Loan
or any other Obligation hereunder shall remain unpaid or unsatisfied or any
Letter of Credit shall remain outstanding.

     

    
      
        
           

        

        
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    Section
10.14.   Severability

     

    If any
provision of this Agreement or any other Loan Document is held to be illegal,
invalid or unenforceable, the legality, validity and enforceability of the
remaining provisions of this Agreement and such other Loan Document shall not be
affected or impaired thereby.  The invalidity of a provision in a
particular jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction.

     

    Section
10.15.   GOVERNING
LAW

     

    THIS
AGREEMENT AND EACH OTHER LOAN DOCUMENT (OTHER THAN ANY LOAN DOCUMENT EXPRESSLY
GOVERNED BY THE LAWS OF ANOTHER JURISDICTION) SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

     

    ANY LEGAL
ACTION OR PROCEEDING ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED
WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF
THEM WITH RESPECT TO ANY LOAN DOCUMENT OR THE TRANSACTIONS RELATED THERETO, IN
EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, MAY BE BROUGHT IN THE
COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY OR OF THE UNITED STATES
FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY OF THIS
AGREEMENT, EACH LOAN PARTY, EACH AGENT AND EACH LENDER CONSENTS, FOR ITSELF AND
IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE
COURTS.  EACH LOAN PARTY, EACH AGENT AND EACH LENDER IRREVOCABLY
WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON
THE GROUNDS OF FORUM NON
CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY
ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR
OTHER DOCUMENT RELATED THERETO.  EACH PARTY HERETO IRREVOCABLY
CONSENTS TO SERVICE OF PROCESS IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO ANY LOAN DOCUMENTS IN THE MANNER PROVIDED FOR NOTICES (OTHER THAN
TELECOPIER) IN SECTION 10.02.  NOTHING IN THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY
OTHER MANNER PERMITTED BY APPLICABLE LAW.

     

    Section
10.16.   WAIVER OF RIGHT TO TRIAL BY
JURY

     

    EACH
PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY
OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THE LOAN DOCUMENTS.
EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY 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 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION.

     

    Section
10.17.   Binding
Effect

     

    This
Agreement shall become effective when it shall have been executed by the Loan
Parties and the Administrative Agent shall have been notified by each Lender,
the Swing Line Lenders and L/C Issuer that each such Lender, Swing Line Lender
and L/C Issuer has executed it, and thereafter shall be binding upon and inure
to the benefit of the Loan Parties, each Agent and each Lender and their
respective successors and assigns, in each case in accordance with Section 10.07
(if applicable), and except that no Loan Party shall have the right to assign
its rights hereunder or any interest herein without the prior written consent of
the Lenders except as permitted by Section 7.04.

     

    
      
        
           

        

        
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    Section
10.18.   Judgment
Currency

     

    If, for
the purposes of obtaining judgment in any court, it is necessary to convert a
sum due hereunder or any other Loan Document in one currency into another
currency, the rate of exchange used shall be that at which in accordance with
normal banking procedures the Administrative Agent could purchase the first
currency with such other currency on the Business Day preceding that on which
final judgment is given.  The obligation of each Borrower in respect
of any such sum due from it to the Administrative Agent, the Collateral Agent or
the Lenders hereunder or under the other Loan Documents shall, notwithstanding
any judgment in a currency (the “Judgment Currency”) other than
that in which such sum is denominated in Dollars or an Alternative Currency, be
discharged only to the extent that on the Business Day following receipt by the
Administrative Agent or the Collateral Agent of any sum adjudged to be so due in
the Judgment Currency, the Administrative Agent or the Collateral Agent may in
accordance with normal banking procedures purchase Dollars or the relevant
Alternative Currency with the Judgment Currency.  If the amount of
Dollars or an Alternative Currency so purchased is less than the sum originally
due to the Administrative Agent or the Collateral Agent from the Borrowers in
Dollars or the relevant Alternative Currency, each Borrower agrees, as a
separate obligation and notwithstanding any such judgment, to indemnify the
Administrative Agent or the Collateral Agent or the Person to whom such
obligation was owing against such loss.  If the amount of Dollars or
the relevant Alternative Currency so purchased is greater than the sum
originally due to the Administrative Agent or the Collateral Agent in such
currency, the Administrative Agent or the Collateral Agent agrees to return the
amount of any excess to the applicable Borrower (or to any other Person who may
be entitled thereto under applicable Law).

     

    Section
10.19.   Lender
Action

     

    Each
Lender agrees that it shall not take or institute any actions or proceedings,
judicial or otherwise, for any right or remedy against any Loan Party or any
other obligor under any of the Loan Documents or the Secured Hedge Agreements
(including the exercise of any right of setoff, rights on account of any
banker’s lien or similar claim or other rights of self-help), or institute any
actions or proceedings, or otherwise commence any remedial procedures, with
respect to any Collateral or any other property of any such Loan Party, without
the prior written consent of the Administrative Agent.  The provision
of this Section 10.19 are for the sole benefit of the Lenders and shall not
afford any right to, or constitute a defense available to, any Loan
Party.

     

    Section
10.20.   USA Patriot
Act

     

    Each
Lender that is subject to the USA Patriot Act and the Administrative Agent (for
itself and not on behalf of any Lender) hereby notifies each Loan Party that,
pursuant to the requirements of the USA Patriot Act, it is required to obtain,
verify and record information that identifies such Loan Party, which information
includes the name, address and tax identification number of such Loan Party and
other information regarding such Loan Party that will allow such Lender or the
Administrative Agent, as applicable, to identify such Loan Party in accordance
with the USA Patriot Act.  This notice is given in accordance with the
requirements of the USA Patriot Act and is effective as to the Lenders and the
Administrative Agent.

     

    
      
        
           

        

        
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    Section
10.21.   Agent for Service of
Process

     

    Each
Foreign Subsidiary that is a Loan Party agrees that promptly following request
by the Administrative Agent it will appoint and maintain an agent reasonably
satisfactory to the Administrative Agent to receive service of process in New
York City, and the Loan Parties agree to cause the same to occur.

     

    Section
10.22.   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 Loan Party acknowledges and agrees
that:  (i) (A) the arranging and other services regarding this
Agreement provided by the Agents and the Arrangers are arm’s-length commercial
transactions between the Company and the Borrowers and their respective
Affiliates, on the one hand, and the Administrative Agent and the Arrangers, on
the other hand, (B) each Loan Party has consulted its own legal,
accounting, regulatory and tax advisors to the extent it has deemed appropriate
and (C) each Loan Party 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) each Agent and each 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 Company and the Borrowers or any of their
respective Affiliates, or any other Person and (B) neither the Administrative
Agent nor any Arranger has any obligation to the Company and the Borrowers 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 Arrangers and their
respective Affiliates may be engaged in a broad range of transactions that
involve interests that differ from those of each Loan Party and their respective
Affiliates, and no Agent or Arranger has any obligation to disclose any of such
interests to the Loan Parties or their respective Affiliates.  To the
fullest extent permitted by law, each Loan Party hereby waives and releases any
claims that it may have against the Agents and the Arrangers with respect to any
breach or alleged breach of agency or fiduciary duty in connection with any
aspect of any transaction contemplated hereby.

     

    Section
10.23.   Acknowledgments Relating to
the Amendment Effective Date

     

    Each Loan
Party hereby (i) expressly acknowledges the terms of this Agreement, (ii)
ratifies and affirms its obligations under the Loan Documents (including
guarantees and security agreements) executed by such Loan Party and (iii)
acknowledges and extends its continued liability under all such Loan Documents
and agrees such Loan Documents remain in full force and effect, including with
respect to the obligations of the Borrowers as modified by this Agreement
(except that no representation is given herein with respect to applicability of
the Collateral Documents governed by German, French, Italian and Spanish law to
any amount of Obligations representing the difference in the amount of interest
on the Loans based on the Applicable Rate set forth herein and the Applicable
Rate set forth in the Original Credit Agreement).  Each Loan Party
further represents and warrants to each Agent, the L/C Issuer and each of the
Lenders that after giving effect to this Agreement, neither the modification of
the Original Credit Agreement effected pursuant to this Agreement, nor the
execution, delivery, performance or effectiveness of this Agreement (a) impairs
the validity, effectiveness or priority of the Liens granted pursuant to any
Collateral Document (as such term is defined in the Original Credit Agreement),
and such Liens continue unimpaired with the same priority to secure repayment of
all Obligations, whether heretofore or hereafter incurred (except that no
representation is given herein with respect to applicability of the Collateral
Documents governed by German, French, Italian and Spanish law to any amount of
Obligations representing the difference in the amount of interest on the Loans
based on the Applicable Rate set forth herein and the Applicable Rate set forth
in the Original Credit Agreement); or (b) requires that any new filings be made
or other action taken to perfect or to maintain the perfection of such Liens for
the aforementioned Obligations (as qualified).

     

    
      
        
           

        

        
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    ARTICLE
XI.

     

    Guaranty

     

    Section
11.01.   The
Guaranty

     

    Each
Guarantor hereby jointly and severally with the other Guarantors guarantees, as
a primary obligor and not as a surety to each Secured Party and their respective
successors and assigns, the prompt payment in full when due (whether at Stated
Maturity, by required prepayment, declaration, demand, by acceleration or
otherwise) of the principal of and interest (including any interest, fees, costs
or charges that would accrue but for the provisions of (i) the Title 11 of the
United States Code after any bankruptcy or insolvency petition under Title 11 of
the United States Code and (ii) any other Debtor Relief Laws) on the Loans made
by the Lenders to, and the Notes held by each Lender of, any Borrower (other
than such Guarantor), and all other Obligations from time to time owing to the
Secured Parties by any Loan Party under any Loan Document or any Secured Hedge
Agreement or any Treasury Services Agreement, in each case strictly in
accordance with the terms thereof (such obligations being herein collectively
called the “Guaranteed
Obligations”).  The Guarantors hereby jointly and severally
agree that if the Borrowers or other Guarantor(s) shall fail to pay in full when
due (whether at Stated Maturity, by acceleration or otherwise) any of the
Guaranteed Obligations, the Guarantors will promptly pay the same in cash,
without any demand or notice whatsoever, and that in the case of any extension
of time of payment or renewal of any of the Guaranteed Obligations, the same
will be promptly paid in full when due (whether at extended maturity, by
acceleration or otherwise) in accordance with the terms of such extension or
renewal.

     

    Section
11.02.   Obligations
Unconditional

     

    The
obligations of the Guarantors under Section 11.01 shall constitute a guaranty of
payment and to the fullest extent permitted by applicable Law, are absolute,
irrevocable and unconditional, joint and several, irrespective of the value,
genuineness, validity, regularity or enforceability of the Guaranteed
Obligations of the Borrowers under this Agreement, the Notes, if any, or any
other agreement or instrument referred to herein or therein, or any
substitution, release or exchange of any other Guaranty of or security for any
of the Guaranteed Obligations, and, irrespective of any other circumstance
whatsoever that might otherwise constitute a legal or equitable discharge or
defense of a surety or Guarantor (except for payment in
full).  Without limiting the generality of the foregoing, it is agreed
that the occurrence of any one or more of the following shall not alter or
impair the liability of the Guarantors hereunder which shall remain absolute,
irrevocable and unconditional under any and all circumstances as described
above:

     

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

     

    (ii)       any
of the acts mentioned in any of the provisions of this Agreement or the Notes,
if any, or any other agreement or instrument referred to herein or therein shall
be done or omitted;

     

    (iii)      the
maturity of any of the Guaranteed Obligations shall be accelerated, or any of
the Guaranteed Obligations shall be amended in any respect, or any right under
the Loan Documents or any other agreement or instrument referred to herein or
therein shall be amended or waived in any respect or any other guaranty of any
of the Guaranteed Obligations or any security therefor shall be released or
exchanged in whole or in part or otherwise dealt with;

     

    
      
        
           

        

        
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    (iv)     any
Lien or security interest granted to, or in favor of, an L/C Issuer or any
Lender or Agent as security for any of the Guaranteed Obligations shall fail to
be perfected; or

     

    (v)      the
release of any other Guarantor pursuant to Section 11.09.

     

    The
Guarantors hereby expressly waive diligence, presentment, demand of payment,
protest and all notices whatsoever, and any requirement that any Secured Party
exhaust any right, power or remedy or proceed against Borrowers under this
Agreement or the Notes, if any, or any other agreement or instrument referred to
herein or therein, or against any other Person under any other guaranty of, or
security for, any of the Guaranteed Obligations.  The Guarantors waive
any and all notice of the creation, renewal, extension, waiver, termination or
accrual of any of the Guaranteed Obligations and notice of or proof of reliance
by any Secured Party upon this Guaranty or acceptance of this Guaranty, and the
Guaranteed Obligations, and any of them, shall conclusively be deemed to have
been created, contracted or incurred in reliance upon this Guaranty, and all
dealings between Borrowers and the Secured Parties shall likewise be
conclusively presumed to have been had or consummated in reliance upon this
Guaranty.  This Guaranty shall be construed as a continuing, absolute,
irrevocable and unconditional guaranty of payment without regard to any right of
offset with respect to the Guaranteed Obligations at any time or from time to
time held by Secured Parties, and the obligations and liabilities of the
Guarantors hereunder shall not be conditioned or contingent upon the pursuit by
the Secured Parties or any other Person at any time of any right or remedy
against Borrowers or against any other Person which may be or become liable in
respect of all or any part of the Guaranteed Obligations or against any
collateral security or guaranty therefor or right of offset with respect
thereto.  This Guaranty shall remain in full force and effect and be
binding in accordance with and to the extent of its terms upon the Guarantors
and the successors and assigns thereof, and shall inure to the benefit of the
Lenders, and their respective successors and assigns, notwithstanding that from
time to time during the term of this Agreement there may be no Guaranteed
Obligations outstanding.

     

    Section
11.03.   Reinstatement

     

    The
obligations of the Guarantors under this Article XI shall be automatically
reinstated if and to the extent that for any reason any payment by or on behalf
of the Borrowers or other Loan Party in respect of the Guaranteed Obligations is
rescinded or must be otherwise restored by any holder of any of the Guaranteed
Obligations, whether as a result of any proceedings in bankruptcy or
reorganization or otherwise.

     

    Section
11.04.   Subrogation;
Subordination

     

    Each
Guarantor hereby agrees that until the payment and satisfaction in full in cash
of all Guaranteed Obligations and the expiration and termination of the
Commitments of the Lenders under this Agreement it shall waive any claim and
shall not exercise any right or remedy, direct or indirect, arising by reason of
any performance by it of its guaranty in Section 11.01, whether by subrogation
or otherwise, against any Borrower or any other Guarantor of any of the
Guaranteed Obligations or any security for any of the Guaranteed
Obligations.

     

    Section
11.05.   Remedies

     

    The
Guarantors jointly and severally agree that, as between the Guarantors and the
Lenders, the obligations of the Borrowers under this Agreement and the Notes, if
any, may be declared to be forthwith due and payable as provided in Section 8.02
(and shall be deemed to have become automatically due and payable in the
circumstances provided in Section 8.02) for purposes of Section 11.01,
notwithstanding any stay, injunction or other prohibition preventing such
declaration (or such obligations from becoming automatically due and payable) as
against the Borrowers and that, in the event of such declaration (or such
obligations being deemed to have become automatically due and payable), such
obligations (whether or not due and payable by the Borrowers) shall forthwith
become due and payable by the Guarantors for purposes of Section
11.01.

     

    
      
        
           

        

        
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    Section
11.06.   Instrument for the Payment
of Money

     

    Each
Guarantor hereby acknowledges that the guaranty in this Article XI constitutes
an instrument for the payment of money, and consents and agrees that any Lender
or Agent, at its sole option, in the event of a dispute by such Guarantor in the
payment of any moneys due hereunder, shall have the right to bring a
motion-action under New York CPLR Section 3213.

     

    Section
11.07.   Continuing
Guaranty

     

    The
guaranty in this Article XI is a continuing guaranty of payment, and shall apply
to all Guaranteed Obligations whenever arising.

     

    Section
11.08.   General Limitation on
Guarantee Obligations

     

    In any
action or proceeding involving any state corporate limited partnership or
limited liability company law, or any applicable state, federal or foreign
bankruptcy, insolvency, reorganization or other Law affecting the rights of
creditors generally, if the obligations of any Guarantor under Section 11.01
would otherwise be held or determined to be void, voidable, invalid or
unenforceable, or subordinated to the claims of any other creditors, on account
of the amount of its liability under Section 11.01, then, notwithstanding any
other provision to the contrary, the amount of such liability shall, without any
further action by such Guarantor, any Loan Party or any other Person, be
automatically limited and reduced to the highest amount (after giving effect to
the right of contribution established in Section 11.10) that is valid and
enforceable and not subordinated to the claims of other creditors as determined
in such action or proceeding.

     

    Section
11.09.   Release of
Guarantors

     

    If, in
compliance with the terms and provisions of the Loan Documents, all or
substantially all of the Equity Interests or property of any Guarantor are sold
or otherwise transferred (a “Transferred Guarantor”) to a
Person or Persons, none of which is a Loan Party, such Transferred Guarantor
shall, upon the consummation of such sale or transfer, be automatically released
from its obligations under this Agreement (including under Section 10.05) and
its obligations to pledge and grant any Collateral owned by it pursuant to any
Collateral Document and, in the case of a sale of all or substantially all of
the Equity Interests of the Transferred Guarantor, the pledge of such Equity
Interests to the Collateral Agent pursuant to the Collateral Documents shall be
automatically released, and, so long as the Borrowers’ Agent shall have provided
the Agents such certifications or documents as any Agent shall reasonably
request, the Collateral Agent shall take such actions as are necessary to effect
each release described in this Section 11.09 in accordance with the relevant
provisions of the Collateral Documents.

     

    Section
11.10.   Right of
Contribution

     

    Each
Guarantor hereby agrees that to the extent that a Subsidiary Guarantor shall
have paid more than its proportionate share of any payment made hereunder, such
Subsidiary Guarantor shall be entitled to seek and receive contribution from and
against any other Guarantor hereunder which has not paid its proportionate share
of such payment.  Each Subsidiary Guarantor’s right of contribution
shall be subject to the terms and conditions of Section 11.04.  The
provisions of this Section 11.10 shall in no respect limit the obligations and
liabilities of any Subsidiary Guarantor to the Administrative Agent, the L/C
Issuer, the Swing Line Lenders and the Lenders, and each Subsidiary Guarantor
shall remain liable to the Administrative Agent, the L/C Issuer, the Swing Line
Lenders and the Lenders for the full amount guaranteed by such Subsidiary
Guarantor hereunder.

     

    
      
        
           

        

        
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    Section
11.11.   Certain Dutch
Matters

     

    (a)           Any
obligation, guaranty or undertaking granted or assumed by a Person incorporated
or organized under the laws of The Netherlands pursuant to this Agreement
(including but not limited to this Article XI) or any other Loan Document shall
be deemed not to be undertaken or incurred by such Person to the extent that the
same would constitute unlawful financial assistance within the meaning of
Section 2:207c or 2:98c of the Dutch Civil Code or any other applicable
financial assistance rules under any relevant jurisdiction (the “Prohibition”) and the
provisions of this Agreement and the other Loan Documents shall be construed
accordingly.  For the avoidance of doubt it is expressly acknowledged
that the relevant Persons incorporated under the laws of The Netherlands will
continue to guaranty and secure all such obligations which, if included, do not
constitute a violation of the Prohibition.

     

    (b)           Any
amount which may be guaranteed by Basell Benelux B.V., Lyondell Chemie
International B.V. or Lyondell Chemie Nederland B.V. shall not exceed the amount
permitted to be guaranteed or otherwise incurred as Debt (as defined in the 2027
Notes) in accordance with the terms of the 2027 Notes after taking into account
all other Debt of all Restricted Subsidiaries (as defined in the 2027 Notes),
provided that such
limitation on the amount guaranteed shall not operate so as to release Basell
Benelux B.V., Lyondell Chemie International B.V. or Lyondell Chemie Nederland
B.V. from their respective obligations under this Section 11 in excess of such
amounts and further provided that upon the refinancing in full of the 2027
Notes, the limitations on guarantees which exist as a result of the provisions
of the 2027 Notes shall be automatically removed from the date of such
refinancing and, accordingly, this paragraph (b), restricting it as a Guarantor
in this Agreement, shall cease to operate and have any force and effect from the
date of such refinancing.  Additionally, the respective obligations of
Basell Benelux B.V., Lyondell Chemie International B.V. and Lyondell Chemie
Nederland B.V. under this Section 11 shall apply only insofar as required to
guaranty the payment obligations of any Loan Party with respect to any proceeds
of any Facility or Swing Line Facility directly or indirectly made available by
such Loan Party to Basell Benelux B.V., Lyondell Chemie International B.V. or
Lyondell Chemie Nederland B.V. through intra-group loans or facilities and
limited to the amount of such loans or facilities available to Basell Benelux
B.V., Lyondell Chemie International B.V. or Lyondell Chemie Nederland B.V. as
outstanding from time to time.

     

    Section
11.12.   Guaranty
Limitations

     

    (a)           To
the extent that the guarantee created hereunder is granted by a Guarantor
incorporated in Germany as a limited liability company (Gesellschaft mit beschränkter Haftung)
(each a “German GmbH
Guarantor”) or established in Germany as a limited partnership (Kommanditgesellschaft) with a
limited liability company (Gesellschaft mit beschränkter
Haftung) as general partner (a German GmbH & Co. KG
Guarantor, together with any German GmbH Guarantor hereinafter referred
to as a German
Guarantor) and secures debt other than debt of such German Guarantor
itself or any of its Subsidiaries, the following shall apply:

     

    (i)       each
German Guarantor guarantees the payment of all and any amounts, which correspond
to funds that have been borrowed under this Agreement and have been on-lent to,
or otherwise passed on to, the relevant German Guarantor or any of its
Subsidiaries, to the extent that any such amount is still outstanding at the
time the relevant demand is made against such German Guarantor; and

     

    
      
        
           

        

        
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    (ii)       each
German Guarantor further guarantees the payment of any amount in excess of the
amounts payable by the relevant German Guarantor pursuant to paragraph (a)(i) of
this Section 11.12, its relevant liability is however limited as
follows:

     

    (A)           each
Secured Party shall not be entitled to enforce the Guarantee in an amount
exceeding the amounts payable under paragraph (a)(i) of this Section 11.12 to
the extent that the German Guarantor is able to demonstrate that the further
enforcement of the Guarantee exceeding the amounts payable under paragraph
(a)(i) of this Section 11.12 has the effect of:

     

    I.        reducing
the relevant German Guarantor’s or, where the German Guarantor is a German GmbH
& Co. KG Guarantor, its general partner’s net assets (Nettovermögen) (the “Net Assets”) to an amount less
than its or, where the German Guarantor is a German GmbH & Co. KG Guarantor,
its general partner’s stated share capital (Stammkapital);
or

     

    II.        (if
the Net Assets are already an amount less than the stated share capital) causing
such amount to be further reduced,

     

    and
thereby affecting the assets required for the obligatory preservation of its
stated share capital according to §§ 30, 31 German GmbH-Act (GmbH-Gesetz) (the “GmbH-Act”).

     

    (B)           The
value of the Net Assets shall be determined in accordance with GAAP consistently
applied by the German Guarantor in preparing its unconsolidated balance sheets
(Jahresabschluss according to § 42 GmbH-Act, §§ 242, 264 of the German
Commercial Code (HGB)) in the previous years subject to applicable law, save
that:

     

    I.        the
amount of any increase of the stated share capital (Stammkapital) of the German
Guarantor or, where the German Guarantor is a German GmbH & Co. KG
Guarantor, its general partner, registered after the date of this Agreement
without the prior written consent of the Administrative Agent shall be deducted
from the relevant stated share capital; and

     

    II.        loans
and other liabilities incurred in violation of the provisions of this Agreement
shall be disregarded.

     

    (C)           The
limitations set out in paragraph (a)(ii) of this Section 11.12 shall only apply
if and to the extent that within 15 Business Days following the demand against
the relevant German Guarantor under the Guarantee by the Administrative Agent,
the managing director(s) on behalf of such German Guarantor have confirmed in
writing to the Administrative Agent (x) to what extent the Guarantee is an
up-stream or cross-stream guarantee and (y) which amount of such cross-stream
and/or up-stream guarantee cannot be enforced (only if exceeding the amounts
payable under paragraph (a)(i) of this Section 11.12) as it would cause the Net
Assets of such Guarantor or, where the German Guarantor is a German GmbH &
Co. KG Guarantor, its general partner to fall below its stated share capital
(Stammkapital) or, if
the Net Assets are already less than the stated share capital (Stammkapital) of such German
Guarantor or, where the German Guarantor is a German GmbH & Co. KG
Guarantor, its general partner, would cause such amount to be further reduced
(the “Management
Determination”).

     

    
      
        
           

        

        
          -181-

          
            

          

        

        
           

        

      

    

     

    (D)           If
the Administrative Agent disagrees with the Management Determination, the
Administrative Agent shall be entitled to enforce the Guarantee up to an amount
exceeding the amounts payable under paragraph (a)(i) of this Section 11.12 which
is undisputed between itself and the relevant German Guarantor in accordance
with the provisions of paragraph (a)(i) of this Section 11.12. In relation to
the amount which is disputed, the Administrative Agent and such German Guarantor
shall within 35 calendar days (or such longer period as has been agreed between
the Company and the Administrative Agent for such purpose) from the date the
Administrative Agent has contested the Management Determination request a
determination by auditors of international standing and reputation of the amount
of the available Net Assets (the “Auditor’s Determination”). The
amount determined as the available Net Assets in the Auditor’s Determination
shall be (except for manifest error) binding for all Parties. The costs of the
Auditor’s Determination shall be borne by the Company.

     

    (E)           The
limitation set out in paragraph (a)(ii) of this Section 11.12 shall not apply if
(x) the German Guarantor and/or, where the German Guarantor is a German GmbH
& Co. KG Guarantor, its general partner has filed for insolvency or
temporary insolvency proceedings have been commenced and/or (y) the Management
Determination is not delivered within the time limit set out in this Section
11.12.

     

    (F)            If:

     

    I.        and
to the extent the Guarantee is enforced without regard to the limitation set
forth in paragraph (a)(ii) of this Section 11.12 because the Management
Determination was not delivered within the relevant time frame; or

     

    II.        the
amount of the available Net Assets pursuant to the Auditor’s Determination is
lower than the amount stated in the Management Determination,

     

    the
Lenders shall repay to the relevant German Guarantor upon demand of the relevant
German Guarantor the amount exceeding any amount to be paid under paragraph
(a)(i) of this Section 11.12 if and to the extent already paid to the Lenders
which is necessary to maintain its stated share capital (Stammkapital), calculated as
of the date the demand under the Guarantee was made and in accordance with
paragraphs (a)(ii) of this Section 11.12, provided such demand is in
written form addressed to the Administrative Agent on behalf of the Lenders and
is submitted within six months (Ausschlussfrist) after the
date the Guarantee is enforced without regard to the limitation set forth in
paragraph (a)(ii)(A) of this Section 11.12. If pursuant to the Auditor’s
Determination the amount of the available Net Assets is higher than set out in
the Management Determination the relevant German Guarantor shall pay such amount
to the extent not already paid to the Lenders within five Business Days after
receipt of the Auditor’s Determination.

     

    (G)           If
the German Guarantor intends to demonstrate that the enforcement of the
Guarantee in an amount exceeding any amount to be paid under paragraph (a)(i) of
this Section 11.12 has led to one of the effects referred to in paragraph
(a)(ii) of this Section 11.12, then the German Guarantor and, where the German
Guarantor is a German GmbH & Co. KG Guarantor, also its general partner
shall realise at market value any and all of its assets that are shown in its
balance sheet with a book value (Buchwert) that is in the
opinion of the Administrative Agent significantly lower than their market value
if such assets are not necessary for the relevant German Guarantor’s or, where
the German Guarantor is a German GmbH & Co. KG Guarantor, its general
partner’s, business (nicht
betriebsnotwendig), to the extent necessary to satisfy the amounts
requested under this paragraph (a)(ii).

     

    
      
        
           

        

        
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    (H)           The
limitation set out in paragraph (a)(ii) of this Section 11.12 does not affect
the right of the Lenders to claim again any outstanding amount at a later point
in time if and to the extent that paragraph (a)(ii) of this Section 11.12 would
allow this at that later point.

     

    (iii)      Notwithstanding
the foregoing the Administrative Agent and the Lenders waive their rights to
enforce the Guarantee as set out below to the extent that and as long as such
enforcement would be in violation of the prohibition of an intervention
threatening the existence of that German Guarantor (Verstoß gegen das Verbot des
existenzvernichtenden Eingriffs).

     

    The
limitation and waiver of enforcement of the Guarantee set out in subparagraph
(iii) of this Section 11.12 shall only apply:

     

    (A)           if
and to the extent that within 15 Business Days following the demand against the
relevant German Guarantor under the Guarantee by the Administrative Agent, the
managing directors on behalf of such German Guarantor have confirmed and proved
in writing to the Administrative Agent to what extent the Guarantee cannot be
enforced as it would cause a violation of the prohibition of an intervention
threatening the existence of that German Guarantor (Verstoßgegen das Verbot des
existenzvernichtenden Eingriffs), (the “Management Determination of an
Intervention Threatening the Existence of the German Guarantor”);
and

     

    (B)           if
the Administrative Agent disagrees with the Management Determination of an
Intervention Threatening the Existence of the German Guarantor the proceedings
set out in paragraph (a)(ii)(D) of this Section 11.12 shall apply mutatis
mutandis.

     

    This
subparagraph (iii) shall apply mutatis mutandis if the
Guarantee is granted by a Guarantor incorporated as a limited liability
partnership (GmbH & Co. KG) and secures debt other than debt of such
Guarantor itself or any of its Subsidiaries.

     

    (iv)     If
the law is changed to the effect that Sections 30 German GmbH-Act is not
applicable when a domination agreement (Beherrschungsvertrag) or a
profit and loss pooling (Ergebnisabführungsvertrag)
between the relevant German Guarantor and a borrower/guarantor (the Relevant Borrower/Guarantor)
exists (directly, or indirectly through a chain of domination or profit and loss
pooling agreements between the Relevant Borrower and its subsidiaries and the
German Guarantor) then the limitations provided for in this Section 11.12 shall
no longer apply to the extent that the Guarantee covers the obligations of the
Relevant Borrower/Guarantor.

     

    (b)           For
the avoidance of doubt, nothing in this Agreement shall be interpreted as a
restriction or limitation of (i) the enforcement of the Guarantee covering
obligations owed by any of the respective German Guarantor’s direct or indirect
Subsidiaries or (ii) the enforcement of any claim of any Secured Party against a
Borrower (in such capacity) under this Agreement.

     

    
      
        
           

        

        
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    Section
11.13.   Guaranty Limitations in
Respect of Millennium Chemicals Inc

     

    Any
amount that may be guaranteed by Millennium Chemicals Inc or any of its
Subsidiaries, shall not exceed the amount permitted to be Incurred (as defined
in the Millennium Indenture) as Funded Debt (as defined in the Millennium
Indenture) as more fully set forth in Section 1009 of the Millennium Indenture;
provided, however, that upon the
refinancing in full of the Millennium Notes, this Section 11.13 shall cease to
operate and have any force and effect as of the date of such
refinancing.

     

    Section
11.14.   Non-U.S. Guarantee
Limitations

     

    The
guarantee under this Agreement by any Loan Parties outside the United States
does not apply to any liability to the extent that it would result in this
guarantee constituting unlawful financial assistance within the meaning of
Section 151 of the Companies Act 1985 or any equivalent and applicable
provisions under the laws of the jurisdiction of incorporation of the relevant
Loan Party and, with respect to any Guarantors which accede to this Agreement by
way of joinder after the Original Closing Date, is subject to any limitations
set out in the joinder agreement in respect of this Agreement applicable to such
Guarantor.

     

    Section
11.15.   Limitation on Guarantee by
Additional Guarantors

     

    (a)           The
guarantee of any Person which becomes a Loan Party pursuant to an appropriate
joinder agreement in respect of this Agreement that is not a Loan Party
domiciled in either the Grand Duchy of Luxembourg or Germany is subject to any
limitations relating to that additional Loan Party set out in any such joinder
agreement, including (to the extent applicable) certain restrictions under the
2027 Notes and the Millennium Indenture.

     

    (b)           The
guarantee of any Person which becomes a Loan Party pursuant to an appropriate
joinder agreement in respect of this Agreement that is a Loan Party domiciled in
The Netherlands shall be subject to the limitations set out in paragraph (a) of
Section 11.11 and (to the extent applicable) certain restrictions under the 2027
Notes, in each case, as set out in such joinder agreement in form and substance
satisfactory to the Administrative Agent (acting reasonably).

     

    ARTICLE
XII.

     

    Foreign Currency
Participations

     

    Section
12.01.   U.S./Dutch Revolving Credit
Loans; Intra-Lender Issues

     

    (a)           Specified Foreign Currency
Participations.  Notwithstanding anything to the contrary
contained herein, all Revolving Credit Loans that are denominated in the
Specified Foreign Currency (each, a “Specified Foreign Currency
Loan”) shall
be made solely by the Revolving Credit Lenders (including Citibank, N.A., London
Branch) who are not Participating Specified Foreign Currency Lenders (as defined
below).  Each Re­volving Credit Lender acceptable to Citibank,
N.A., London Branch that does not have Specified Foreign Currency Funding
Capacity (a “Participating
Specified Foreign Currency Lender”) shall irrevocably and
unconditionally purchase and acquire and shall be deemed to irrevocably and
unconditionally purchase and acquire from Citibank, N.A., London Branch, and
Citibank, N.A., London Branch shall sell and be deemed to sell to each such
Participating Specified For­eign Currency Lender, without recourse or any
representation or warranty whatsoever, an undi­vided interest and
participation (a “Specified
Foreign Currency Participation”) in each Revolving Credit
Loan which is a Specified Foreign Currency Loan funded by Citi­bank, N.A.,
London Branch in an amount equal to such Participating Specified Foreign
Currency Lender’s Pro Rata Share of the Borrowing that includes such Revolving
Credit Loan. Such purchase and sale of a Specified Foreign Currency
Participation shall be deemed to occur automatically upon the making of a
Specified Foreign Currency Loan by Citibank, N.A., London Branch, without any
further notice to any Participating Specified Foreign Currency
Lender.  The purchase price payable by each Participating Specified
Foreign Currency Lender to Citibank, N.A., London Branch for each Specified
Foreign Currency Participation purchased by it from Citibank, N.A., London
Branch shall be equal to 100% of the principal amount of such Specified Foreign
Currency Participation (i.e., the product of (i) the amount of the Borrowing
that includes the relevant Revolving Credit Loan and (ii) such Participating
Specified Foreign Cur­rency Lender’s Pro Rata Share), and such purchase
price shall be payable by each Participating Specified Foreign Currency Lender
to Citibank, N.A., London Branch in accordance with the settlement procedure set
forth in Section 12.02 below.  Citibank, N.A., London Branch and the
Administrative Agent shall record on their books the amount of the Revolving
Credit Loans made by Citibank, N.A., London Branch and each Participating
Specified Foreign Cur­rency Lender’s Specified Foreign Currency
Participation and Funded Specified Foreign Cur­rency Participation therein,
all payments in respect thereof and interest accrued thereon and all payments
made by and to each Participating Specified Foreign Currency Lender pursuant to
this Section 12.01.

     

    
      
        
           

        

        
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    Section
12.02.   Settlement Procedure for
Specified Foreign Currency Participations

     

    Each
Participating Specified Foreign Currency Lender’s Specified Foreign Currency
Par­ticipation in the Specified Foreign Currency Loans shall be in an amount
equal to its Pro Rata Share of all such Specified Foreign Currency
Loans.  However, in order to facilitate the admini­stration of the
Specified Foreign Currency Loans made by Citibank, N.A., London Branch and the
Specified Foreign Currency Participations, settlement among Citibank, N.A.,
London Branch and the Participating Specified Foreign Currency Lenders with
regard to the Participating Speci­fied Foreign Currency Lenders’ Specified
Foreign Currency Participations shall take place in ac­cordance with the
following provisions:

     

    (i)       Citibank,
N.A., London Branch and the Participating Specified Foreign Currency Lenders
shall settle (a “Specified
Foreign Currency Participation Settle­ment”) by payments in respect
of the Specified Foreign Currency Participations as fol­lows: so long as any
Specified Foreign Currency Loans are outstanding, Specified For­eign
Currency Participation Settlements shall be effected upon the request of
Citibank, N.A., London Branch through the Administrative Agent on such Business
Days as re­quested by Citibank, N.A., London Branch and as the
Administrative Agent shall specify by a notice by telecopy, telephone or similar
form of notice to each Participating Speci­fied Foreign Currency Lender
requesting such Specified Foreign Currency Participation Settlement (each such
date on which a Specified Foreign Currency Participation Settle­ment occurs
herein called a “Specified
Foreign Currency Participation Settlement Date”), such notice to be
delivered no later than 1:00 p.m. (London, England time) at least one Business
Day prior to the requested Specified Foreign Currency Participation Settlement
Date; provided that
Citibank, N.A., London Branch shall have the option but not the obligation to
request a Specified Foreign Currency Participation Settlement Date and, in any
event, shall not request a Specified Foreign Currency Participation Settlement
Date prior to the occurrence of an Event of Default; provided further, that if (x)
such Event of Default is cured or waived in writing in accordance with the terms
hereof, (y) no Obligations have yet been declared due and payable under Article
VIII (or a rescission has occurred) and (z) the Administrative Agent has actual
knowledge of such cure or waiver, all prior to the Administrative Agent’s giving
notice to the Participating Specified Foreign Currency Lenders of the first
Specified Foreign Currency Participation Settlement Date under this Agreement,
then the Administrative Agent shall not give notice to the Participating
Specified Foreign Currency Lenders of a Specified Foreign Currency Participation
Set­tlement Date based upon such cured or waived Event of
Default.  If on any Specified Foreign Currency Participation
Settlement Date the total principal amount of the Speci­fied Foreign
Currency Loans made or deemed made by Citibank, N.A., London Branch during the
period ending on (but excluding) such Specified Foreign Currency
Participa­tion Settlement Date and commencing on (and including) the
immediately preceding Specified Foreign Currency Participation Settlement Date
(or the Original Closing Date in the case of the period ending on the first
Specified Foreign Currency Participation Settlement Date) (each such period
herein called a “Specified
Foreign Currency Participation Set­tlement Period”) is greater than the
principal amount of Specified Foreign Currency Loans repaid during such
Specified Foreign Currency Participation Settlement Period to Citibank, N.A.,
London Branch, each Participating Specified Foreign Currency Lender shall pay to
Citibank, N.A., London Branch (through the Administrative Agent), no later than
12 noon (London, United Kingdom time) on such Specified Foreign Currency
Participation Settlement Date, an amount equal to such Participating Specified
Foreign Currency Lender’s ratable share of the amount of such
excess.  If in any Specified Foreign Cur­rency Participation
Settlement Period the outstanding principal amount of the Specified Foreign
Currency Loans repaid to Citibank, N.A., London Branch in such period exceeds
the total principal amount of the Specified Foreign Currency Loans made or
deemed made by Citibank, N.A., London Branch during such period, Citibank, N.A.,
London Branch shall pay to each Participating Specified Foreign Currency Lender
(through the Administrative Agent) on such Specified Foreign Currency
Participation Settlement Date an amount equal to such Participating Specified
Foreign Currency Lender’s ratable share of such excess.  Specified
Foreign Currency Participation Settlements in respect of Speci­fied Foreign
Currency Loans shall be made in the currency in which such Specified
For­eign Currency Loan was funded on the Specified Foreign Currency
Participation Settle­ment Date for such Specified Foreign Currency
Loans.

     

    
      
        
           

        

        
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    (ii)                  If
any Participating Specified Foreign Currency Lender fails to pay to Citibank,
N.A., London Branch on any Specified Foreign Currency Participation
Settle­ment Date the full amount required to be paid by such Participating
Specified Foreign Currency Lender to Citibank, N.A., London Branch on such
Specified Foreign Currency Participation Settlement Date in respect of such
Participating Specified Foreign Currency Lender’s Specified Foreign Currency
Participation (such Participating Specified Foreign Currency Lender’s “Specified Foreign Currency
Participation Settlement Amount”) with Citibank, N.A.,
London Branch, Citibank, N.A., London Branch shall be entitled to recover such
unpaid amount from such Participating Specified Foreign Currency Lender,
together with interest thereon (in the same respective currency or currencies as
the rele­vant Specified Foreign Currency Loans) at the Base Rate plus 2.00%
per annum.  With­out limiting Citibank, N.A., London Branch’s
rights to recover from any Participating Specified Foreign Currency Lender any
unpaid Specified Foreign Currency Participation Settlement Amount payable by
such Participating Specified Foreign Currency Lender to Citibank, N.A., London
Branch, the Administrative Agent shall also be entitled to with­hold from
amounts otherwise payable to such Participating Specified Foreign Currency
Lender an amount equal to such Participating Specified Foreign Currency Lender’s
un­paid Specified Foreign Currency Participation Settlement Amount owing to
Citibank, N.A., London Branch and apply such withheld amount to the payment of
any unpaid Specified Foreign Currency Participation Settlement Amount owing by
such Participating Specified Foreign Currency Lender to Citibank, N.A., London
Branch.

     

    (iii)                  (a)
A Participating Specified Foreign Currency Lender which has a Funded Specified
Foreign Currency Participation shall be entitled to receive interest on such
Funded Specified Foreign Currency Participation to the same extent as if such
Specified Foreign Currency Lender was the direct holder of the portion of the
Loan in which it purchased a Specified Foreign Currency Participation (it being
agreed that, promptly upon the receipt by Citibank, N.A., London Branch or any
of its Affiliates of any interest in respect of any Loan in which a
Participating Specified Foreign Currency Lender has a Funded Specified Foreign
Currency Participation, Citibank, N.A., London Branch will pay or cause to be
paid to such Participating Specified Foreign Currency Lender its ratable share
of such interest in immediately available funds) and (b) for pur­poses of
determining the Lenders comprising the “Required Lenders” from and after the
termination of the Revolving Credit Commitments, (i) the Revolving Credit
Exposure of a Lender that is a Participating Specified Foreign Currency Lender
shall be deemed to in­clude the amount of the sum of each Specified Foreign
Currency Participation of such Participating Specified Foreign Currency Lender
and (ii) the amount of the Revolving Credit Exposure of Citibank, N.A., London
Branch and its affiliates shall be reduced by an amount equal to the sum of each
Specified Foreign Currency Participation of such Par­ticipating Specified
Foreign Currency Lender.

     

    
      
        
           

        

        
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    Section
12.03.   Obligations
Irrevocable

     

    The
obligations of each Participating Specified Foreign Currency Lender to purchase
from Citibank, N.A., London Branch a participation in each Specified Foreign
Currency Loan made by Citibank, N.A., London Branch and to make payments to
Citibank, N.A., London Branch with respect to such participation, in each case
as provided herein, shall be irrevocable and not subject to any qualification or
exception whatsoever, including any of the following
cir­cumstances:

     

    (i)       any
lack of validity or enforceability of this Agreement or any of the other Loan
Documents or of any Loans, against any Loan Party;

     

    (ii)       the
existence of any claim, setoff, defense or other right which the any Loan Party
may have at any time against the Administrative Agent, any Participating
Specified Foreign Currency Lender, or any other Person, whether in connection
with this Agreement, any Specified Foreign Currency Loans, the transactions
contemplated herein or any unrelated transactions;

     

    (iii)      any
application or misapplication of any proceeds of any Specified For­eign
Currency Loans;

     

    (iv)     the
surrender or impairment of any security for any Specified Foreign Cur­rency
Loans;

     

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

     

    (vi)     the
commencement or pendency of any events specified in Section 8.01(f) or (g), in
respect of any Loan Party or any Restricted Subsidiaries; or

     

    (vii)     the
failure to satisfy the applicable conditions precedent set forth in Arti­cle
IV.

     

    Section
12.04.   Recovery or Avoidance of
Payments

     

    In the
event any payment by or on behalf of any Borrower or any other Loan Party
re­ceived by the Administrative Agent with respect to any Specified Foreign
Currency Loan made by Citibank, N.A., London Branch is thereafter set aside,
avoided or recovered from the Admin­istrative Agent in connection with any
insolvency proceeding or due to any mistake of law or fact, each Participating
Specified Foreign Currency Lender shall, upon written demand by the
Administrative Agent, pay to Citibank, N.A., London Branch (through the
Administrative Agent) such Participating Specified Foreign Currency Lender’s Pro
Rata Share of such amount set aside, avoided or recovered, together with
interest at the rate and in the currency required to be paid by Citibank, N.A.,
London Branch or the Administrative Agent upon the amount required to be
re­paid by it.

     

    
      
        
           

        

        
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    Section
12.05.   Indemnification by
Lenders

     

    Each
Participating Specified Foreign Currency Lender agrees to indemnify Citibank,
N.A., London Branch (to the extent not reimbursed by the Borrowers and without
limiting the obligations of the Borrowers hereunder or under any other Loan
Document) ratably for any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses (including attorneys’
fees) or disbursements of any kind and nature whatsoever that may be
im­posed on, incurred by or asserted against Citibank, N.A., London Branch
in any way relating to or arising out of any Specified Foreign Currency Loans or
any action taken or omitted by Citi­bank, N.A., London Branch in connection
therewith; provided
that no Participating Specified Foreign Currency Lender shall be liable
for any of the foregoing to the extent it arises from the gross negligence or
willful misconduct of Citibank, N.A., London Branch (as determined by a court of
competent jurisdiction in a final non-appealable judgment).  Without
limiting the forego­ing, each Participating Specified Foreign Currency
Lender agrees to reimburse Citibank, N.A., London Branch promptly upon demand
for such Participating Specified Foreign Currency Lender’s ratable share of any
costs or expenses payable by the Borrowers to Citibank, N.A., London Branch in
respect of the Specified Foreign Currency Loans to the extent that Citibank,
N.A., London Branch is not promptly reimbursed for such costs and expenses by
the Borrowers.  The agreement contained in this Section 12.05 shall
survive payment in full of all Specified For­eign Currency
Loans.

     

    Section
12.06.   Specified Foreign Currency
Loan Participation Fee

     

    In
consideration for each Participating Specified Foreign Currency Lender’s
participation in the Specified Foreign Currency Loans made by Citibank, N.A.,
London Branch, Citibank, N.A., London Branch agrees to pay to the Administrative
Agent for the account of each Partici­pating Specified Foreign Currency
Lender, as and when Citibank, N.A., London Branch receives payment of interest
on its Specified Foreign Currency Loans, a fee (the “Specified Foreign Currency
Participation Fee”) at a rate per annum
equal to the Applicable Rate on such Specified Foreign Currency Loans minus
0.25% on the unfunded Specified Foreign Currency Participation of such
Participating Specified Foreign Currency Lender in such Specified Foreign
Currency Loans of Citibank, N.A., London Branch.  The Specified
Foreign Currency Participation Fee in respect of any unfunded Specified Foreign
Currency Participation in a Specified Foreign Cur­rency Loan shall be
payable to the Administrative Agent in the currency in which the respective
Specified Foreign Currency Loan was funded when interest on such Specified
Foreign Currency Loan is received by Citibank, N.A., London
Branch.  If Citibank, N.A., London Branch does not receive payment in
full of such interest, the Specified Foreign Currency Participation Fee in
re­spect of the unfunded Specified Foreign Currency Participation in such
Specified Foreign Cur­rency Loans shall be reduced
proportionately.  Any amounts payable under this Section 12.06 by the
Administrative Agent to the Participating Specified Foreign Currency Lenders
shall be paid in the currency in which the respective Specified Foreign Currency
Loan was funded (or, if different, the currency in which such interest payments
are actually received).

      
        
           

        

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

     

    
      	 
      	
              LYONDELLBASELL
      INDUSTRIES AF S.C.A., as the Company

            
	 	 
	 	 
	 
      	
              By:

            	 
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              LYONDELL
      CHEMICAL COMPANY, as the U.S. Borrower

            
	 	 
	 	 
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      HOLDINGS B.V., as a Dutch Borrower

            
	 	 
	 	 
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 	 	 
	 	 	 
	 
      	
              BASELL
      FINANCE COMPANY B.V., as a Dutch Borrower

            
	 	 
	 	 
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      GERMANY HOLDINGS GmbH, as the German Borrower

            
	 	 
	 	 
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            

    

    
      
         

      

      
        S-1

        
          

        

      

      
         

      

    

     

    
      	 
      	
              SUBSIDIARY
      GUARANTORS

            
	 
      	 
      	 
      
	 
      	
              HOUSTON
      REFINING LP

            
	 
      	
              LYONDELL
      CHEMICAL PRODUCTS EUROPE LLC

            
	 
      	
              LYONDELL
      CHEMICAL TECHNOLOGY 1 INC.

            
	 
      	
              LYONDELL
      CHEMICAL TECHNOLOGY, L.P.

            
	 
      	
              LYONDELL
      CHIMIE FRANCE LLC

            
	 
      	
              LYONDELL
      EUROPE HOLDINGS INC.

            
	 
      	
              LYONDELL
      LP3 PARTNERS, LP

            
	 
      	
              LYONDELL
      PETROCHEMICAL L.P. INC.

            
	 
      	
              LYONDELL
      REFINING I LLC

            
	 
      	
              EQUISTAR
      CHEMICALS, LP

            
	 
      	
              MILLENNIUM
      PETROCHEMICALS INC.

            
	 
      	
              MILLENNIUM
      SPECIALTY CHEMICALS INC.

            
	 
      	
              LYONDELL
      REFINING COMPANY LLC

            
	 
      	
              LYONDELL
      HOUSTON REFINERY INC.

            
	 
      	
              LYONDELL
      CHEMICAL NEDERLAND, LTD.

            
	 
      	
              LYONDELL-EQUISTAR
      HOLDINGS PARTNERS

            
	 
      	
              LYONDELL
      (PELICAN) PETROCHEMICAL L.P.1, INC.

            
	 
      	
              LYONDELL
      LP4 INC.

            
	 
      	
              LYONDELL
      LP3 GP, LLC

            
	 
      	
              MILLENNIUM
      PETROCHEMICALS PARTNERS, LP

            
	 
      	
              MILLENNIUM
      US OP CO, LLC

            
	 
      	
              MILLENNIUM
      AMERICA INC.

            
	 
      	
              MILLENNIUM
      AMERICA HOLDINGS INC.

            
	 
      	
              MILLENNIUM
      WORLDWIDE HOLDINGS I INC.

            
	 
      	
              MILLENNIUM
      CHEMICALS INC.

            
	 
      	
              MILLENNIUM
      PETROCHEMICALS GP LLC

            
	 
      	
              LYONDELL
      CHEMICAL TECHNOLOGY

            
	 
      	
              MANAGEMENT,
      INC.,

            
	 
      	
              as
      Guarantors

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            

    

    

      
        
           

        

        
          S-2

          
            

          

        

        
           

        

      

    

     

    
      	 
      	
              BASELL
      FINANCE USA INC.

            
	 
      	
              BASELL
      USA INC.

            
	 
      	
              LYONDELLBASELL
      FINANCE COMPANY

            
	 
      	
              LBI
      ACQUISITION LLC

            
	 
      	
              LBIH
      LLC

            
	 
      	
              NELL
      ACQUISITION (US) LLC

            
	 
      	
              BASELL
      NORTH AMERICA INC.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

               

               

            
	 
      	
              BASELL
      FINANCE & TRADING COMPANY B.V.

            
	 
      	 
      
	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      SALES AND MARKETING COMPANY B.V.

            
	 
      	 
      
	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 	 	 
	 	 	 
	 
      	
              BASELL
      INTERNATIONAL HOLDINGS B.V.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      FUNDING S.á.r.l.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            

    

     

    
      
        
        

      

      
        S-3

        
          

        

      

      
        
        

      

    

     

    
      	 
      	
              BASELL
      POLYOLEFINE GMBH

            
	 
      	 
      
	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      BAYREUTH CHEMIE GMBH

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      POLYOLEFINS UK LIMITED

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      UK HOLDINGS LIMITED

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      CANADA INC.

            
	 
      	 
      
	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              LYONDELLBASELL
      INDUSTRIES AF S.C.A.

            
	 
      	 
      
	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            

    

     

    
      
        
        

      

      
        S-4

        
          

        

      

      
        
        

      

    

     

    
      	 
      	
              LYONDELLBASELL
      NETHERLANDS HOLDINGS B.V.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      EUROPE HOLDINGS B.V.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      BENELUX B.V.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

               

               

            
	 
      	
              LYONDELL
      CHEMIE INTERNATIONAL B.V.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              LYONDELL
      CHEMIE NEDERLAND B.V.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              BASELL
      ASIA PACIFIC LIMITED

               

               

            
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            

    

     

    
      
        
        

      

      
        S-5

        
          

        

      

      
        
        

      

    

     

    
      	 
      	
              CITIBANK,
      N.A., as Primary Administrative Agent, Collateral Agent and as a Lender,
      and U.S. Swing Line Lender

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

               

               

            
	 
      	
              CITIBANK
      INTERNATIONAL plc, as European Administrative Agent

            
	 
      	 
      
	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            
	 
      	 
      	 
      

    

     

    
      
        
        

      

      
        S-6

        
          

        

      

      
        
        

      

    

     

    
      	 
      	
              [LENDER]

               

               

            
	 
      	
              By:

            	 
      
	 
      	 
      	
              Name:

            
	 
      	 
      	
              Title:

            

    

    
 

    S-7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]