Document:

Exhibit
10.4

 

REVOLVING CREDIT AGREEMENT

 

Dated as of
August 15, 2003

 

This Revolving Credit Agreement (this “Agreement”)
is by and between FIRST COMMUNITY BANCORP, a corporation
formed under the laws of the State of California (“Borrower”), and U.S. BANK NATIONAL
ASSOCIATION, a national banking association (“Lender”), with
a banking office at 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202.

 

SECTION 1.  LOANS

 

SECTION 1.1.                                         [RESERVED].

 

SECTION 1.2.                                         REVOLVING
CREDIT LOANS.  Subject to
the terms and conditions of this Agreement, Lender agrees to make loans to
Borrower, from time to time from the date of this Agreement through
August 14, 2004 (the “Maturity Date”), at such times and in such
amounts, not to exceed SEVENTEEN MILLION FIVE HUNDRED THOUSAND AND NO/100
UNITED STATES DOLLARS ($17,500,000.00) (the “Commitment”) at any one
time outstanding, as Borrower may request (the “Loan(s)”).  During such period Borrower may borrow,
repay and reborrow hereunder.  Each
borrowing shall be in the amount of at least $100,000 or the remaining unused
amount of the Commitment.

 

SECTION 1.3.                                         REVOLVING
CREDIT NOTE.  The Loans
shall be evidenced by a promissory note (the “Note”), substantially in
the form of Exhibit A, with appropriate insertions, dated the date
hereof, payable to the order of Lender and in the original principal amount of
the Commitment.  Lender may at any time
and from time to time at Lender’s sole option attach a schedule (grid) to
the Note and endorse thereon notations with respect to each Loan specifying the
date and principal amount thereof, the Interest Period (as defined below) (if
applicable), the applicable interest rate and rate option, and the date and
amount of each payment of principal and interest made by Borrower with respect
to each such Loan.  Lender’s
endorsements as well as its records relating to the Loans shall be rebuttably
presumptive evidence of the outstanding principal and interest on the Loans,
and, in the event of inconsistency, shall prevail over any records of Borrower
and any written confirmations of the Loans given by Borrower.  The principal of the Note shall be payable
on or before the Maturity Date.

 

SECTION 1.4.                                         EXTENSION OF MATURITY DATE.  Borrower may request an extension of the
Maturity Date by submitting a request for an extension to Lender (an “Extension
Request”) no more than sixty (60) days prior to the current Maturity
Date.  The Extension Request must
specify the new Maturity Date requested by Borrower and the date (which must be
at least thirty (30) days after the Extension Request is delivered to Lender)
as of which Lender must respond to the Extension Request (the “Extension
Date”).  The new Maturity Date shall
be no more than 364 days after the Maturity Date in effect at the time the
Extension Request is received, including such Maturity Date as one of the days
in the calculation of the days elapsed. 
Promptly upon receipt of an Extension Request, Lender shall endeavor in
good faith to notify the Other Banks (as hereinafter defined) of the contents
thereof (provided it shall not be liable to Borrower, the Other Banks, or any
other Person for its failure to do so). 
If Lender fails to

 

 

respond to an Extension
Request by the Extension Date, Lender shall be deemed to have denied the
Extension Request.  If Lender, in its
sole discretion, decides to approve the Extension Request, Lender shall deliver
its written consent to Borrower, and endeavor in good faith to notify the Other
Banks of such extension no later than the Extension Date (provided it shall not
be liable to Borrower, the Other Banks, or any other Person for its failure to
do so).  If and only if the consent of
each of the Other Banks to the same new Maturity Date is received by Borrower
and Lender on or before the Extension Date, the Maturity Date specified in the
Extension Request shall become effective at the expiration of the existing
Maturity Date.

 

SECTION 2.  INTEREST AND FEES

 

SECTION 2.1.                                         INTEREST
RATE.  Borrower agrees to
pay interest on the unpaid principal amount of the Loans from time to time
outstanding hereunder at the following rates per year:

 

(a)                                  Before
maturity of any Loan, whether by acceleration or otherwise, at the option of
Borrower, subject to the terms hereof at a rate equal to:

 

(i)                                     The
“Prime-Based Rate,” which shall mean the Prime Rate (as hereinafter
defined) minus seventy-five hundredths of one percent (-0.75%) per annum;

 

(ii)                                  “LIBOR,”
which shall mean the sum of (A) that fixed rate of interest per year for
deposits with Interest Periods of 1, 3 or 6 months (which Interest Period
Borrower shall select subject to the terms stated herein) in United States
Dollars offered to Lender in or through the London interbank market at or about
10:00 A.M., London time, two days (during which banks are generally open in
both Chicago and London) before the rate is to take effect in an amount
corresponding to the amount of the requested Loan or portion thereof and for
the London deposit Interest Period requested, divided  by one
minus any applicable reserve requirement (expressed as a decimal) on Eurodollar
deposits of the same amount and Interest Period as determined by Lender in its
sole discretion, plus (B) one and one-half percent (+1.50%) per annum;
or

 

(iii)                               “Federal Funds Rate,”
which shall mean the sum of (A) the weighted average of the rates on overnight
Federal funds transactions, with members of the Federal Reserve System only,
arranged by Federal funds brokers, plus (B) one and one-half percent
(1.50%) per annum.  The Federal Funds
Rate shall be determined by Lender on the basis of reports by Federal funds
brokers to, and published daily by, the Federal Reserve Bank of New York in the
Composite Closing Quotations for U.S. Government Securities.  If such publication is unavailable or the
Federal Funds Rate is not set forth therein, the Federal Funds Rate shall be
determined on the basis of any other source reasonably selected by Lender.  The Federal Funds Rate applicable each day
shall be the Federal Funds Rate reported as applicable to Federal funds
transactions on that date.  In the case
of Saturday, Sunday or a legal holiday, the Federal Funds Rate shall be the
rate applicable to Federal funds transactions on the immediately preceding day
for which the Federal Funds Rate is reported.

 

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(b)                                 After
the maturity of any Loan, whether by acceleration or otherwise, such Loan shall
bear interest until paid at a rate equal to two percent (2%) in addition to the
rate in effect immediately prior to maturity (but not less than the Prime-Based
Rate in effect at maturity).

 

SECTION 2.2.                                         RATE
SELECTION.  Borrower shall
select and change its selection of the interest rate as among LIBOR, the
Federal Funds Rate and the Prime-Based Rate, as applicable, to apply to at
least $100,000 and in integral multiples of $100,000 thereafter of any Loan or
portion thereof, subject to the requirements herein stated:

 

(a)                                  At
the time any Loan is made;

 

(b)                                 At
the expiration of a particular LIBOR Interest Period selected for the
outstanding principal balance of any Loan or portion of any Loan currently
bearing interest at LIBOR; and

 

(c)                                  At
any time for the outstanding principal balance of any Loan or portion thereof
currently bearing interest at the Prime-Based Rate or the Federal Funds Rate.

 

SECTION 2.3.                                         RATE CHANGES AND NOTIFICATIONS.

 

(a)                                  LIBOR.  If Borrower wishes to borrow funds at LIBOR
or Borrower wishes to change the rate of interest on any Loan or portion
thereof, within the limits described above, from any other rate to LIBOR, it
shall, at or before 12:00 noon, Chicago time, not less than two Banking Days of
Lender prior to the Banking Day of Lender on which such rate is to take effect,
give Lender written notice thereof, which shall be irrevocable.  Such notice shall specify the Loan or
portion thereof to which LIBOR is to apply, and, in addition, the desired LIBOR
Interest Period of 1, 3 or 6 months (but not to exceed the Maturity Date).

 

(b)                                 Federal
Funds Rate or Prime-Based Rate.  If
Borrower wishes to borrow funds at the Federal Funds Rate or the Prime-Based
Rate or to change the rate of interest on any Loan or any portion thereof, to
such rate, it shall, at or before l2:00 noon, Chicago time, on the date such
borrowing or change is to take effect, which shall be a Banking Day of Lender,
give Lender written notice thereof, which shall be irrevocable.  Such notice shall specify the advance and
the desired interest rate option.

 

(c)                                  Failure
to Notify.  If Borrower does not
notify Lender at the expiration of a selected Interest Period with respect to
any principal outstanding at LIBOR, then in the absence of such notice Borrower
shall be deemed to have elected to have such principal accrue interest after
the respective LIBOR Interest Period at the Federal Funds Rate.  If Borrower does not notify Lender as to its
selection of the interest rate option with respect to any new Loan, then in the
absence of such notice Borrower shall be deemed to have elected to have such
initial advance accrue interest at the Federal Funds Rate.

 

SECTION 2.4.                                         INTEREST PAYMENT DATES. Accrued interest shall be paid in
respect of each portion of principal to which the Federal Funds Rate or
Prime-Based Rate applies on the last day of each month in each year, beginning
with the first of such dates to occur

 

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after the date of the
first Loan or portion thereof, at maturity, and upon payment in full, and to
each portion of principal to which any other interest rate option applies, the
end of each respective Interest Period, every three months, at maturity, and
upon payment in full, whichever is earlier or more frequent.  After maturity, interest shall be payable
upon demand.

 

SECTION 2.5.                                         ADDITIONAL PROVISIONS WITH
RESPECT TO FEDERAL FUNDS RATE AND LIBOR LOANS.

 

The selection by Borrower of the Federal Funds Rate or
LIBOR and the maintenance of the Loans or portions thereof at such rate shall
be subject to the following additional terms and conditions:

 

(a)                                  Availability
of Deposits at a Determinable Rate. 
If, after Borrower has elected to borrow or maintain any Loan or portion
thereof at the Federal Funds Rate or LIBOR, Lender notifies Borrower that:

 

(i)                                     United
States dollar deposits in the amount and for the maturity requested are not
available to Lender (in the case of LIBOR, in the London interbank market); or

 

(ii)                                  Reasonable
means do not exist for Lender to determine the Federal Funds Rate or LIBOR for
the amount and maturity requested; all as determined by Lender in its sole
discretion, then the principal subject to the Federal Funds Rate or LIBOR shall
accrue or shall continue to accrue interest at the Prime-Based Rate.

 

(b)                                 Prohibition
of Making, Maintaining, or Repayment of Principal at the Federal Funds Rate or
LIBOR.  If any treaty, statute,
regulation, interpretation thereof, or any directive, guideline, or otherwise
by a central bank or fiscal authority (whether or not having the force of law)
shall either prohibit or extend the time at which any principal subject to the
Federal Funds Rate or LIBOR may be purchased, maintained, or repaid, then on
and as of the date the prohibition becomes effective, the principal subject to
that prohibition shall continue at the Prime-Based Rate.

 

(c)                                  Payments
of Principal and Interest to be Inclusive of Any Taxes or Costs.  All payments of principal and interest shall
include any taxes and costs incurred by Lender resulting from having principal
outstanding hereunder at the Federal Funds Rate or LIBOR.  Without limiting the generality of the
preceding obligation, illustrations of such taxes and costs are:

 

(i)                                     Taxes
(or the withholding of amounts for taxes) of any nature whatsoever including
income, excise, and interest equalization taxes (other than income taxes
imposed by the United States or any state or locality thereof on the income of
Lender), as well as all levies, imposts, duties, or fees whether now in
existence or resulting from a change in, or promulgation of, any treaty,
statute, regulation, interpretation thereof, or any directive, guideline, or
otherwise, by a central bank

 

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or fiscal authority (whether or not having the force
of law) or a change in the basis of, or time of payment of, such taxes and
other amounts resulting therefrom;

 

(ii)                                  Any
reserve or special deposit requirements against assets or liabilities of, or
deposits with or for the account of, Lender with respect to principal
outstanding at LIBOR including those imposed under Regulation D of the Federal
Reserve Board or resulting from a change in, or the promulgation of, such requirements
by treaty, statute, regulation, interpretation thereof, or any directive,
guideline, or otherwise by a central bank or fiscal authority (whether or not
having the force of law);

 

(iii)                               Any other costs
resulting from compliance with treaties, statutes, regulations,
interpretations, or any directives or guidelines, or otherwise by a central
bank or fiscal authority (whether or not having the force of law), including
capital adequacy regulations;

 

(iv)                              Any
loss (including loss of anticipated profits) or expense incurred by reason of
the liquidation or re-employment of deposits acquired by Lender:

 

(A)                              To
make Loans or a portion thereof or maintain principal outstanding at the LIBOR
or the Federal Funds Rate;

 

(B)                                As
the result of a voluntary prepayment at a date other than the Interim Maturity
Date selected for principal outstanding at LIBOR;

 

(C)                                As
the result of a mandatory repayment at a date other than that Interim Maturity
Date selected for principal outstanding at LIBOR as the result of the occurrence
of an Event of Default and the acceleration of any portion of the indebtedness
hereunder; or

 

(D)                               As
the result of a prohibition on making, maintaining, or repaying principal
outstanding at the Federal Funds Rate or LIBOR.

 

If Lender incurs any such taxes or costs, Borrower,
upon demand in writing specifying such taxes and costs, shall promptly pay
them; save for manifest error Lender’s specification shall be presumptively
deemed correct.

 

SECTION 2.6.                                         BASIS
OF COMPUTATION.  Interest
shall be computed for the actual number of days elapsed on the basis of a year
consisting of 360 days, including the date a Loan is made and excluding the
date a Loan or any portion thereof is paid or prepaid.

 

SECTION 2.7.                                         COMMITMENT
FEE, REDUCTION OF COMMITMENT. 
Borrower agrees to pay Lender a commitment fee (the “Commitment Fee”)
in arrears of twenty-five hundredths of one percent (0.25%) per year on the
average daily unused amount of the Commitment. 
The Commitment Fee shall commence to accrue on the date of this Agreement
and shall be paid on the last day of each calendar quarter in each year,
beginning with the first of such dates to occur after the date of this
Agreement, at maturity and upon payment in full.  At

 

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any time or from
time to time, upon at least ten days’ prior written notice, which shall be
irrevocable, Borrower may reduce the Commitment in the amount of at least
$100,000 or in full; provided that Borrower may not reduce the Commitment below
an amount equal to the aggregate outstanding principal amount of all
Loans.  Upon any such reduction of any
part of the unused Commitment, any accrued and unpaid Commitment Fee on the
part reduced shall be paid in full as of the date of such reduction.

 

SECTION 3.  PAYMENTS AND PREPAYMENTS

 

SECTION 3.1.                                         PREPAYMENTS.  Borrower may prepay without penalty or
premium any principal bearing interest at the Prime-Based Rate or the Federal
Funds Rate.  If Borrower prepays any
principal bearing interest at LIBOR in whole or in part on a date other than
the Interim Maturity Date, or if the maturity of any such LIBOR principal is
accelerated, then, to the fullest extent permitted by law Borrower shall also
pay Lender for all losses and expenses incurred by reason of the liquidation or
re-employment of deposits acquired by Lender to make the Loan or maintain
principal outstanding at LIBOR.  Upon
Lender’s demand in writing specifying such losses and expenses, Borrower shall
promptly pay them; Lender’s specification shall be deemed correct in the
absence of manifest error.  All Loans or
portions thereof made at LIBOR shall be conclusively deemed to have been funded
by or on behalf of Lender (in the London interbank market) by the purchase of deposits
corresponding in amount and maturity to the amount and Interest Periods
selected (or deemed to have been selected) by Borrower under this
Agreement.  Any partial repayment or
prepayment shall be in an amount equal to the lesser of $500,000 and the
outstanding principle balance of the Loans.

 

SECTION 3.2.                                         FUNDS.  All payments of principal, interest and the
Commitment Fee shall be made in immediately available funds to Lender at its
banking office indicated above or as otherwise directed by Lender.

 

SECTION 3.3.                                         EQUAL ACTIONS.  Borrower agrees that (a) each
borrowing from Lender under Section 1.2 of this Agreement and from
the Other Banks under the Other Bank Agreements, (b) each payment of the
Commitment Fee under Section 2.7 of this Agreement to Lender and
under the Other Bank Agreements to the Other Banks and (c) each reduction
of the Commitment under Section 2.7 of this Agreement and the
commitments of the Other Banks under the Other Banks Agreements shall be made
on a pro rata basis among Lender and the Other Banks and at substantially the
same time.  The making, conversion and
continuation of Loans hereunder and under the Other Bank Agreements shall be
made ratably and at substantially the same time and Interest Periods for LIBOR
Loans hereunder and under the Other Bank Agreement made on the same Banking Day
shall be coterminous.  Each payment or
prepayment of principal by Borrower shall be made for the account of Lender and
the Other Banks ratably and at substantially the same time.  Each payment of interest on the Loans to
Lender and on loans to the Other Banks shall be made for the account of Lender
and the Other Banks ratably in accordance with the amounts of interest due and
payable to Lender and the Other Banks and at substantially the same time.

 

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SECTION 4.  REPRESENTATIONS AND WARRANTIES

 

To induce Lender to make each of the Loans, Borrower
represents and warrants to Lender that:

 

SECTION 4.1.                                         ORGANIZATION.  Borrower is existing and in good standing as
a duly qualified and organized bank holding company.  Borrower and each Subsidiary (as hereinafter defined) are
existing and in good standing under the laws of their jurisdiction of
formation, and are duly qualified, in good standing and authorized to do
business in each jurisdiction where failure to do so might have a material
adverse impact on the consolidated assets, condition or prospects of
Borrower.  Borrower and each Subsidiary
have the power and authority to own their properties and to carry on their
businesses as now being conducted.

 

SECTION 4.2.                                         AUTHORIZATION;
NO CONFLICT.  The execution,
delivery and performance of this Agreement, the Pledge Agreement, the Note and
all related documents and instruments: 
(a) are within Borrower’s powers; (b) have been authorized by all necessary
corporate action; (c) have received any and all necessary governmental
approvals; and (d) do not and will not contravene or conflict with any
provision of law or charter or by-laws of Borrower or any agreement affecting
Borrower or its property.  This
Agreement and the Pledge Agreement are, and the Note when executed and
delivered will be, legal, valid and binding obligations of Borrower,
enforceable against Borrower in accordance with their respective terms.

 

SECTION 4.3.                                         FINANCIAL
STATEMENTS.  Borrower has
supplied to Lender copies of its audited consolidated financial statements as
of and for the twelve month period ended December 31, 2002.  Such statements have been furnished to
Lender, have been prepared in conformity with generally accepted accounting
principles applied on a basis consistent with that of the preceding fiscal
year, except as disclosed in such statements, and fairly present the financial
condition of Borrower and its Subsidiaries as at such dates and the results of
their operations for the respective periods then ended.  Since the date of those financial
statements, no material, adverse change in the business, condition, properties,
assets, operations, or prospects of Borrower or its Subsidiaries has occurred
except as disclosed on Schedule 4.3.  There is no known contingent liability of Borrower or any
Subsidiary which is known to be in an amount that is more than $1,000,000
(excluding loan commitments, letters of credit, and other contingent
liabilities incurred in the ordinary course of the banking business) in excess
of insurance for which the insurer has confirmed coverage in writing which is
not reflected in such financial statements or disclosed on Schedule 4.3.

 

SECTION 4.4.                                         TAXES.  Borrower and each Subsidiary have filed or
caused to be filed all federal, state and local tax returns which, to the
knowledge of Borrower or such Subsidiary, are required to be filed, and have
paid or have caused to be paid all taxes as shown on such returns or on any
assessment received by them, to the extent that such taxes have become due
(except for current taxes not delinquent and taxes being contested in good
faith and by appropriate proceedings for which adequate reserves have been
provided on the books of Borrower or the appropriate Subsidiary, and as to
which no foreclosure, sale or similar proceedings have been commenced).

 

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SECTION 4.5.                                         LIENS.  None of the assets of Borrower or any
Subsidiary are subject to any mortgage, pledge, title retention lien, or other
lien, encumbrance or security interest except: 
(a) for current taxes not delinquent or taxes being contested in
good faith and by appropriate proceedings; (b) for liens arising in the ordinary
course of business for sums not due or sums being contested in good faith and
by appropriate proceedings, but not involving any deposits or loan or portion
thereof or borrowed money or the deferred purchase price of property or
services; (c) to the extent specifically shown in the financial statements
referred to in Section 4.3; (d) for liens in favor of the
Collateral Agent, for the benefit of Lender and the Other Banks; and (e) liens
and security interests securing deposits of public funds, repurchase
agreements, Federal funds purchased, trust assets, advances from a Federal Home
Loan Bank, discount window borrowings from a Federal Reserve Bank and other
similar liens granted in the ordinary course of the banking business.

 

SECTION 4.6.                                         ADVERSE
CONTRACTS.  Neither Borrower
nor any Subsidiary is a party to any agreement or instrument or subject to any
charter or other corporate restriction, nor is it subject to any judgment,
decree or order of any court or governmental body, which may have a material
and adverse effect on the business, assets, liabilities, financial condition,
operations or business prospects of Borrower and its Subsidiaries taken as a
whole or on the ability of Borrower to perform its obligations under this
Agreement, the Pledge Agreement, the Note and the Other Bank Agreements.  Neither Borrower nor any Subsidiary has, nor
with reasonable diligence should have had, knowledge of or notice that it is in
default in the performance, observance or fulfillment of any of the
obligations, covenants or conditions contained in any such agreement,
instrument, restriction, judgment, decree or order.

 

SECTION 4.7.                                         REGULATION
U.  Borrower is not engaged
principally in, nor is one of Borrower’s important activities, the business of
extending credit for the purpose of purchasing or carrying “margin stock”
within the meaning of Regulation U of the Board of Governors of the Federal
Reserve System as now and from time to time hereinafter in effect.

 

SECTION 4.8.                                         LITIGATION
AND CONTINGENT LIABILITIES. 
No litigation (including derivative actions), arbitration proceedings or
governmental proceedings are pending or, to Borrower’s knowledge, threatened
against Borrower which would (singly or in the aggregate), if adversely
determined, have a material and adverse effect on the consolidated assets,
financial condition, continued operations or business of Borrower and its
Subsidiaries, except as and if set forth (including estimates of the dollar
amounts involved) in Schedule 4.8.

 

SECTION 4.9.                                         FDIC
INSURANCE.  The deposits of
each Subsidiary Bank of Borrower are insured by the FDIC and no act has
occurred which would adversely affect the status of such Subsidiary Bank as an
FDIC insured bank.

 

SECTION 4.10.                                  INVESTIGATIONS.  Neither Borrower nor any Subsidiary
Bank is under investigation by, or is operating under the restrictions imposed
by or agreed to in connection with, any regulatory authority, other than
routine examinations by regulatory authorities having jurisdiction over
Borrower or such Subsidiary Bank.

 

SECTION 4.11.                                  SUBSIDIARIES.  Attached hereto as Schedule 4.11
is a correct and complete list of all Subsidiaries of Borrower.

 

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SECTION 4.12.                                  BANK HOLDING COMPANY.
Borrower has complied in all material respects with all federal, state and
local laws pertaining to bank holding companies, including without limitation
the Bank Holding Company Act of 1956, as amended, and to the best of its
knowledge there are no conditions to its engaging in the business of being a
registered bank holding company.

 

SECTION 4.13.                                  ERISA.

 

(a)                                  Borrower
and the ERISA Affiliates and the plan administrator of each Plan (other than a
Multiemployer Plan) have fulfilled in all material respects their respective
obligations under ERISA and the Code with respect to such Plan and such Plan is
currently in substantial compliance with the applicable provisions of ERISA and
the Code.

 

(b)                                 With
respect to each Plan, there has been no (i) “reportable event” within the
meaning of Section 4043 of ERISA and the regulations thereunder which is
not subject to the provision for waiver of the 30-day notice requirement to the
PBGC; (ii) failure by Borrower or any ERISA Affiliate to timely make or
properly accrue any contribution which is due to any Plan; (iii) action
under Section 4041(c) of ERISA to terminate any Pension Plan;
(iv) action under Section 4041(b) of ERISA to terminate any Pension
Plan which could require Borrower to incur a liability or obligations to make a
material contribution to such Pension Plan; (v) withdrawal from any Pension
Plan with two or more contributing sponsors or the termination of any such
Pension Plan that could subject the Borrower to material liability pursuant to
Section 4063 or 4064 of ERISA; (vi) institution by PBGC of
proceedings to terminate any Pension Plan, or the occurrence of any event or
condition which might constitute grounds under ERISA for the termination of, or
the appointment of a trustee to administer, any Pension Plan (other than a
Multiemployer Plan); (vii) the imposition on Borrower or any ERISA Affiliate of
liability pursuant to Sections 4062(e), 4069 or 4212 of ERISA;
(viii) complete or partial withdrawal (within the meaning of
Sections 4203 and 4205 of ERISA) by Borrower or any ERISA Affiliate from
any Pension Plan which is a Multiemployer Plan that is in reorganization or
insolvency pursuant to Sections 4241 or 4245 of ERISA, or that has
terminated under Sections 4041A or 4042 of ERISA; (ix) prohibited
transaction described in Section 406 of ERISA or 4975 of the Code which
could subject Borrower to the imposition of any material fines, penalties,
taxes or related charges imposed by either Section 4975 of the Code or
Section 502(i) of ERISA; (x) material pending claim (other than
routine claims for benefits) against any Plan (other than a Multiemployer Plan)
which could reasonably be expected to result in material liability; (xi)
receipt from the Internal Revenue Service of notice of the failure of any Plan
(other than a Multiemployer Plan) to qualify under Section 401(a) of the
Code, or the failure of any trust forming part of any Plan (other than a
Multiemployer Plan) to fail to qualify for exemption from taxation under
Section 501(a) of the Code, if applicable; or (xii) imposition of a lien
pursuant to Section 401(a)(29) or 412(n) of the Code or Section 302(f)
of ERISA.

 

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SECTION 4.14.                                  ENVIRONMENTAL LAWS.

 

(a)                                  Borrower
and each of its Subsidiaries have obtained all permits, licenses and other
authorizations which are required to be obtained by Borrower or such
Subsidiaries, as the case may be, under all Environmental Laws and are in
compliance in all material respects with any applicable Environmental Laws.

 

(b)                                 Borrower
has not received any notice, demand, request for information, citation,
summons, order or complaint, no penalty has been assessed and no investigation
or review is pending or, to Borrower’s knowledge, threatened by any
governmental agency or other Person, in each case, with respect to any alleged
or suspected failure by Borrower or any of its Subsidiaries to comply in any
material respect with any Environmental Laws.

 

(c)                                  There
are no material liens arising under or pursuant to any Environmental Laws on
any of the property owned or, to Borrower’s knowledge, leased by Borrower or
any of its Subsidiaries.

 

(d)                                 There
are no conditions existing currently or, to Borrower’s knowledge, likely to
exist during the term of this Agreement which would subject Borrower or any of
its Subsidiaries or any of their owned property or, to Borrower’s knowledge,
any of their leased property, to any material lien, damages, penalties,
injunctive relief or cleanup costs under any Environmental Laws or which
require or are reasonably likely to require cleanup, removal, remedial action
or other responses pursuant to Environmental Laws by Borrower and its
Subsidiaries.

 

SECTION 4.15.                                  PLEDGED SHARES.  The Pledged Shares (as hereinafter defined)
constitute 100% of the issued and outstanding capital stock of Pacific Western
National Bank, have been duly authorized and validly issued and are fully paid
and non-assessable.  Borrower owns the
Pledged Shares free and clear of all other interests, liens or encumbrances of
any nature whatsoever, other than liens in favor of Lender and the Other Banks.

 

SECTION 5.  COVENANTS

 

Until all obligations of Borrower hereunder, under the
Pledge Agreement, the Note and all other related documents and instruments are
paid and fulfilled in full, Borrower agrees that it shall, and shall cause each
Subsidiary to, comply with the following covenants, unless Lender consents
otherwise in writing:

 

SECTION 5.1.                                         EXISTENCE,
MERGERS, ETC.  Borrower and
each Subsidiary shall preserve and maintain their respective corporate,
partnership or joint venture (as applicable) existence, rights, franchises, licenses
and privileges, and will not liquidate, dissolve, or merge, or consolidate with
or into any other entity, or sell, lease, transfer or otherwise dispose of all
or a substantial part of their assets other than in the ordinary course of
business as now conducted, except that:

 

(a)                                  Any
Subsidiary may merge or consolidate with or into Borrower or any one or more
wholly-owned Subsidiaries;

 

10

 

(b)                                 Any
Subsidiary may sell, lease, transfer or otherwise dispose of any of its assets
to Borrower or one or more wholly-owned Subsidiaries;

 

(c)                                  Any
Insignificant Subsidiary may (i) merge or consolidate with any other Person,
(ii) sell, lease, transfer or otherwise dispose of its assets to another Person
or (iii) liquidate or dissolve (“Insignificant Subsidiary” means a
Subsidiary with (1) net income that is less than 2.5% of the consolidated net
income of Borrower and its Subsidiaries for the most recent fiscal quarter
ended for which a consolidated income statement of Borrower is available and
(2) tangible assets that are less than 2.5% of consolidated tangible
assets of Borrower and its Subsidiaries as of the end of the most recent fiscal
quarter ended for which a consolidated balance sheet of Borrower is available);
and

 

(d)                                 Any
Subsidiary may merge or consolidate with any other Person provided that
(i) the surviving entity is a Subsidiary of Borrower (ii) before and
after giving effect to such merger or consolidation, no Event of Default or
Unmatured Event of Default exists or is continuing, (iii) following such
merger or consolidation, Borrower shall continue to own the same or greater
percentage of the stock or other ownership interests of such Subsidiary as it
owned immediately prior to such merger or consolidation, (iv) after giving
effect to such merger or consolidation, Borrower is in pro forma compliance
with Section 5.4 of this Agreement and (v) if any Subsidiary
who is a party to such merger or consolidation is a Subsidiary whose shares of
capital stock constitute Pledged Shares under the Pledge Agreement, then after
giving effect to such merger or consolidation, Lender shall continue to have a
perfected first priority security interest in such Pledged Shares subject only
to any liens permitted in Section 5.5(b) hereof; provided, however,
this clause (d) shall not apply to any Insignificant Subsidiary.

 

Borrower and each Subsidiary shall take all steps to
become and remain duly qualified, in good standing and authorized to do
business in each jurisdiction where failure to do so might have a material
adverse impact on the consolidated assets, condition or prospects of Borrower.

 

SECTION 5.2.                                         REPORTS,
CERTIFICATES AND OTHER INFORMATION.  Borrower shall furnish (or cause to be
furnished) to Lender:

 

(a)                                  Interim
Reports.  Within forty-five (45)
days after the end of each quarter of each fiscal year of Borrower, a copy of
an unaudited financial statement of Borrower and its Subsidiaries prepared on a
consolidated basis consistent with the consolidated financial statements of
Borrower and its Subsidiaries referred to in Section 4.3 above and
prepared in accordance with generally accepted accounting principles, signed by
an authorized officer of Borrower and consisting of at least:  (i) a balance sheet as at the close of such
quarter; and (ii) a statement of earnings and source and application of funds
for such quarter and for the period from the beginning of such fiscal year to
the close of such quarter.

 

(b)                                 Annual
Report.  Within ninety (90) days
after the end of each fiscal year of Borrower, a copy of an annual report of
Borrower and its Subsidiaries prepared on a consolidated basis and in
conformity with generally accepted accounting principles

 

11

 

applied on a basis consistent with the consolidated
financial statements of Borrower and its Subsidiaries referred to in Section 4.3
above, duly certified by independent certified public accountants of recognized
standing and accompanied by an opinion without qualification.  Such independent certified public
accountants shall be selected by the Audit Committee of the Board of Directors
of Borrower (which Audit Committee members shall consist solely of independent
members of Borrower’s Board of Directors) using their good faith business
judgment.

 

(c)                                  Certificates.  Contemporaneously with the furnishing of a
copy of each annual report and of each quarterly statement provided for in this
Section, a certificate dated the date of such annual report or such quarterly
statement and signed by either the President, the Chief Financial Officer or
the Treasurer of Borrower, to the effect that no Event of Default or Unmatured
Event of Default has occurred and is continuing, or, if there is any such
event, describing it and the steps, if any, being taken to cure it, and
containing (except in the case of the certificate dated the date of the annual
report) a computation of, and showing compliance with, any financial ratio or
restriction contained in this Agreement.

 

(d)                                 Reports
to SEC.  Notification of each filing
and report made by Borrower or any Subsidiary with or to any securities
exchange or the Securities and Exchange Commission which are made publicly
available.  Such notification shall be
forwarded electronically to Lender via e-mail at such addresses as Lender shall
provide to Borrower and shall indicate where copies of such filings and reports
can be obtained electronically (for avoidance of doubt, Borrower will notify
Lender of any such filings and reports if electronic means of notification is
inoperable).  If copies of such
documents are not available electronically, notification of the filing of such
documents shall still be made, and Borrower shall provide a paper copy of such
documents to Lender promptly upon Lender’s request.

 

(e)                                  Notice
of Default, Litigation and ERISA Matters. 
Immediately upon learning of the occurrence of any of the following,
written notice describing the same and the steps being taken by Borrower or any
Subsidiary affected in respect thereof: 
(i) the occurrence of an Event of Default or an Unmatured Event of
Default; (ii) the institution of, or any adverse determination in, any
litigation, arbitration or governmental proceeding which is material to
Borrower and its Subsidiaries on a consolidated basis; (iii) the occurrence of
any event referred to in Section 4.13(b); or (iv) the issuance of
any cease and desist order, memorandum of understanding, cancellation of
insurance, or proposed disciplinary action from the FDIC or other regulatory
entity.

 

(f)                                    Other
Bank Agreements.  Promptly, copies
of any amendment, supplement, waiver or other agreement affecting any Other
Bank Agreement and any copies of any notices given by Borrower or the Other
Banks under the Other Bank Agreements, in each case certified by the secretary
or assistant secretary.

 

(g)                                 Other
Information.  From time to time such
other information, financial or otherwise, concerning Borrower or any
Subsidiary as Lender may reasonably request.

 

12

 

SECTION 5.3.                                         INSPECTION.  At Borrower’s expense if an Event of Default
or Unmatured Event of Default has occurred or is continuing, Borrower and each
Subsidiary shall permit Lender and its agents at any time during normal
business hours, and upon at least one business day’s prior notice, to inspect
their properties and to inspect and make copies of their books and
records.  If no Event of Default or
Unmatured Event of Default shall have occurred and be continuing, Lender may
conduct such inspections at any time during normal business hours and upon
reasonable notice to Borrower, and such inspection and copies shall be at
Lender’s expense.

 

SECTION 5.4.                                         FINANCIAL REQUIREMENTS.

 

(a)                                  Leverage
Ratio.  Borrower and each Subsidiary
Bank shall maintain at all times a ratio of Tier 1 Capital to average quarterly
assets less all non-qualified intangible assets of at least five percent (5%),
all calculated on a consolidated basis.

 

(b)                                 Tier
1 Capital Ratio.  Borrower and each
Subsidiary Bank shall maintain at all times a ratio of Tier 1 Capital to
risk-weighted assets of not less than six percent (6%), all calculated on a
consolidated basis.

 

(c)                                  Risk-Based
Capital Ratio.  Borrower and each
Subsidiary Bank shall maintain at all times a ratio of Total Capital to
risk-weighted assets of not less than ten percent (10%), all calculated on a
consolidated basis.

 

(d)                                 Nonperforming
Assets.  All assets of all
Subsidiary Banks and other Subsidiaries classified as “non-performing” (which
shall include all loans in non-accrual status, more than ninety (90) days past
due in principal or interest, restructured or renegotiated, or listed as “other
restructured” or “other real estate owned”) on the FDIC or other regulatory
agency call report shall not exceed at any time three percent (3.0%) of the
total loans of Borrower and its Subsidiaries on a consolidated basis.

 

(e)                                  Loan
Loss Reserves Ratio.  Each
Subsidiary Bank shall maintain at all times on a consolidated basis a ratio of
loan loss reserves to non-performing loans of not less than one hundred percent
(100%).

 

(f)                                    Minimum
Tier 1 Capital.  Borrower shall
maintain a consolidated minimum Tier 1 Capital equal to at least
$125,000,000 at all times.

 

(g)                                 Total
Debt to Tier 1 Capital.  Borrower’s
total indebtedness for borrowed money (specifically excluding the indebtedness
for borrowed money of Borrower’s Subsidiaries) shall not at any time exceed
thirty-five percent (35%) of its Tier 1 Capital.

 

(h)                                 Return
on Average Assets.  Borrower’s
consolidated net income shall be at least 
eighty-five hundredths of one percent (0.85%) of its average assets,
calculated on an annualized basis as at the last day of each fiscal quarter of
Borrower; provided, however, that for purposes of determining return on average
assets, customary and reasonable, non-recurring expenses and charges incurred
by Borrower in connection with a permitted acquisition under Sections 5.1 and
5.6 hereof shall be excluded.

 

13

 

SECTION 5.5.                                         INDEBTEDNESS,
LIENS AND TAXES.  Borrower and each
Subsidiary shall:

 

(a)                                  Indebtedness.  Not incur, permit to remain outstanding,
assume or in any way become committed for indebtedness in respect of borrowed
money (specifically including but not limited to indebtedness in respect of
money borrowed from financial institutions, but excluding deposits),
except:  (i) indebtedness incurred by
Borrower under this Agreement, and further indebtedness of Borrower to Lender,
to the Other Banks or to any other Person; provided that, the aggregate amount
of such indebtedness permitted pursuant to this clause (i) shall not
exceed at any time the lesser of $70,000,000 and an amount which would cause
Borrower to breach its Total Debt to Tier 1 Capital financial covenant in Section 5.4(g);
and provided further, such indebtedness shall be unsecured except as permitted
under Section 5.5(b); (ii) in addition to the indebtedness
permitted under the foregoing clause (i), in the case of Borrower, Trust
Indebtedness and Trust Guarantees, and in the case of any Trust Issuer, Trust
Preferred Securities; and (iii) indebtedness incurred by the Subsidiary
Banks in their normal course of business with the Federal Home Loan Bank, any
Federal Reserve Bank or for Federal Funds with correspondent banks for
liquidity management.

 

(b)                                 Liens.  Not create, suffer or permit to exist any
lien or encumbrance of any kind or nature upon any of their assets now or
hereafter owned or acquired (specifically including but not limited to the
capital stock of any of the Subsidiary Banks), or acquire or agree to acquire
any property or assets of any character under any conditional sale agreement or
other title retention agreement, but this Section shall not be deemed to
apply to:  (i) liens existing on the
date of this Agreement and disclosed on Schedule 5.5(b); (ii) liens
of landlords, contractors, laborers or suppliers, tax liens, or liens securing
performance or appeal bonds, or other similar liens or charges arising out of
Borrower’s business, provided that tax liens are removed before related taxes
become delinquent and other liens are promptly removed, in either case unless
contested in good faith and by appropriate proceedings, and as to which
adequate reserves shall have been established and no foreclosure, sale or
similar proceedings have commenced; (iii) liens in favor of Lender; (iv) liens
on the assets of any Subsidiary Bank arising in the ordinary course of the
banking business of such Subsidiary Bank; and (v) liens contemplated by Section 4.5.

 

(c)                                  Taxes.  Pay and discharge all taxes, assessments and
governmental charges or levies imposed upon them, upon their income or profits
or upon any properties belonging to them, prior to the date on which penalties
attach thereto, and all lawful claims for labor, materials and supplies when
due, except that no such tax, assessment, charge, levy or claim need be paid
which is being contested in good faith by appropriate proceedings as to which
adequate reserves shall have been established, and no foreclosure, sale or
similar proceedings have commenced.

 

(d)                                 Guaranties.  Not assume, guarantee, endorse or otherwise
become or be responsible in any manner (whether by agreement to purchase any
obligations, stock, assets, goods or services, or to supply or loan any funds,
assets, goods or services, or otherwise) with respect to the obligation of any
other Person, except:  (i) by the

 

14

 

endorsement of negotiable instruments for deposit or
collection in the ordinary course of business, issuance of letters of credit or
similar instruments or documents in the ordinary course of business; (ii) in
the case of Borrower, Trust Guarantees; and (iii) guarantees by Borrower of any
of its Subsidiary’s obligations, provided the liability to Borrower on account
of such guarantees shall not in the aggregate exceed $10,000,000 at anytime
outstanding.

 

SECTION 5.6.                                         INVESTMENTS
AND LOANS.  Neither Borrower
nor any Subsidiary shall make any loan, advance, extension of credit or capital
contribution to, or purchase or otherwise acquire for consideration, evidences
of indebtedness, capital stock or other securities of any Person, except that
Borrower and any Subsidiary may:

 

(a)                                  purchase
or otherwise acquire and own short-term money market items;

 

(b)                                 invest,
by way of purchase of securities or capital contributions, in the Subsidiary
Banks or any other bank or banks, and upon Borrower’s purchase or other
acquisition of twenty-five percent (25%) or more of the stock of any bank, such
bank shall thereupon become a “Subsidiary Bank” for all purposes under this
Agreement;

 

(c)                                  invest,
by way of loan, advance, extension of credit (whether in the form of lease,
conditional sales agreement, or otherwise), purchase of securities, capital
contributions, or otherwise, in Subsidiaries other than banks or Subsidiary
Banks;

 

(d)                                 invest,
by way of purchase of securities or capital contributions, in other Persons so
long as before and after giving effect thereto no Event of Default or Unmatured
Event of Default shall have occurred and be continuing and the investment is in
compliance with Regulation Y of the Federal Reserve Board; and

 

(e)                                  in
the case of any Trust Issuer, purchase any Trust Indebtedness and, in the case
of Borrower, purchase any common securities of any Trust Issuer and issue any
Trust Guarantees.

 

Nothing in this Section 5.6 shall prohibit
a Subsidiary Bank from making investments, loans, advances, or other extensions
of credit in the ordinary course of the banking business upon such terms as may
at the time be customary in the banking business.

 

SECTION 5.7.                                         CAPITAL
STRUCTURE AND DIVIDENDS. 
Borrower shall not, and shall not permit any Subsidiary to, (i) purchase
or redeem, or obligate itself to purchase or redeem, any shares of Borrower’s
capital stock, of any class, issued and outstanding from time to time, or any
partnership, joint venture or other equity interest in Borrower or any
Subsidiary; or (ii) declare or pay any dividend (other than dividends payable
in its own common stock or to Borrower) or make any other distribution in respect
of such shares or interest other than to Borrower; provided, however, so long
as no Event of Default or Unmatured Event of Default shall have occurred and be
continuing before or after giving effect thereto, Borrower may purchase or
redeem shares of Borrower’s capital stock and or declare and pay cash dividends
to holders of the capital stock of Borrower in any fiscal quarter in an
aggregate amount that, when added together with any purchase or redemptions of
Borrower’s capital stock and any cash

 

15

 

dividends declared
and paid during the immediately preceding four quarter period (including the
quarter in which the determination is being made so that the Calculation Period
is a “rolling four quarter”) (such period being referred to as the “Calculation
Period”), does not exceed fifty percent (50%) of the consolidated net
income of Borrower, determined in accordance with generally accepted accounting
principles, calculated for such Calculation Period.  Except as provided in Section 5.1, Borrower shall
continue to own, directly or indirectly, the same (or greater) percentage of
the stock and partnership, joint venture, or other equity interest in each
Subsidiary that it held on the date of this Agreement, and no Subsidiary shall
issue any additional stock or partnership, joint venture or other equity
interests, options or warrants in respect thereof, or securities convertible
into such securities or interests, other than to Borrower.

 

SECTION 5.8.                                         MAINTENANCE
OF PROPERTIES.  Borrower and
each Subsidiary shall maintain, or cause to be maintained, in good repair,
working order and condition, all their properties (whether owned or held under
lease), and from time to time make or cause to be made all needed and appropriate
repairs, renewals, replacements, additions, and improvements thereto, so that
the business carried on in connection therewith may be properly and
advantageously conducted at all times (for avoidance of doubt, this Section 5.8
does not limit or restrict Borrower or any Subsidiary from opening, closing or
moving any of their branch offices or other office properties).

 

SECTION 5.9.                                         INSURANCE.  Borrower and each Subsidiary shall maintain
insurance in responsible companies in such amounts and against such risks as is
required by law and such other insurance, in such amount and against such
hazards and liabilities, as is customarily maintained by bank holding companies
and banks similarly situated.  Each
Subsidiary Bank shall have deposits insured by the FDIC.

 

SECTION 5.10.                                  USE OF PROCEEDS.

 

(a)                                  General.  The proceeds of the Loans shall be used for
general corporate purposes.  Neither
Borrower nor any Subsidiary shall use or permit any proceeds of the Loans to be
used, either directly or indirectly, for the purpose, whether immediate,
incidental or ultimate, of “purchasing or carrying any margin stock” within the
meaning of Regulations U or X of the Board of Governors of the Federal Reserve
System, as amended from time to time. 
If requested by Lender, Borrower and each Subsidiary will furnish to
Lender a statement in conformity with the requirements of Federal Reserve Form
U-1.  No part of the proceeds of the
Loans will be used for any purpose which violates or is inconsistent with the
provisions of Regulation U or X of the Board of Governors.

 

(b)                                 Tender
Offers and Going Private.  Neither
Borrower nor any Subsidiary shall use (or permit to be used) any proceeds of
the Loans to acquire any security in any transaction which is subject to
Section 13 or 14 of the Securities Exchange Act of 1934, as amended, or
any regulations or rulings thereunder.

 

SECTION 5.11.                                  COLLATERAL.  Borrower and Lender hereby agree that the
Loans and all other obligations owing from time to time from Borrower to Lender
under this Agreement and the Note shall be secured pursuant to that certain
Amended and Restated Pledge

 

16

 

Agreement, dated
as of even date herewith, executed by Borrower in favor of The Northern Trust
Company, as collateral agent for Lender and the Other Banks (the “Collateral
Agent”) (said Amended and Restated Pledge Agreement, as amended, restated,
modified or supplemented from time to time, the “Pledge Agreement”),
pursuant to which Borrower has pledged to the Collateral Agent, for the benefit
of Lender and the Other Banks, all of the issued and outstanding shares of
capital stock owned by Borrower (herein collectively referred to as the “Pledged
Shares”) of Pacific Western National Bank.

 

SECTION 5.12.                                  COMPLIANCE
WITH LAW.  Borrower and each
Subsidiary shall comply with all applicable laws and regulations (whether
federal, state or local and whether statutory, administrative, judicial or
otherwise) and with every lawful governmental order or similar actions (whether
administrative or judicial), specifically including but not limited to all
requirements of the Bank Holding Company Act of 1956, as amended, and with the
regulations of the Board of Governors of the Federal Reserve System relating to
bank holding companies.

 

SECTION 5.13.                                  NOTICE OF DEPOSIT AND OTHER ACCOUNTS.  Borrower shall promptly notify
Lender in writing (a) of any deposit or other account currently maintained
by Borrower with any of the Other Banks and (b) upon the opening by
Borrower of any deposit or other account after the date hereof with any of the
Other Banks.

 

SECTION 6.  CONDITIONS OF LENDING

 

SECTION 6.1.                                         DOCUMENTATION;
NO DEFAULT.  The obligation
of Lender to make any Loan is subject to the following conditions precedent:

 

(a)                                  Initial
Documentation.  Lender shall have
received all of the following concurrently with the execution and delivery
hereof, each duly executed and dated the date hereof or other date satisfactory
to Lender, in form and substance satisfactory to Lender and its counsel, at the
expense of Borrower, and in such number of signed counterparts as Lender may
request (except for the Note, of which only the original shall be signed):

 

(i)                                     Note.  The Note duly executed.

 

(ii)                                  Pledge
Agreement.  A copy of the Pledge
Agreement duly executed in favor of the Collateral Agent, together with copies
of the Pledged Shares and stock powers, duly executed, in blank.

 

(iii)                               Resolution;
Certificate of Incumbency.  A copy
of a resolution of the Board of Directors of Borrower authorizing the execution,
delivery and performance of this Agreement, the Note, the Pledge Agreement and
other documents provided for in this Agreement, certified by the secretary or
assistant secretary of Borrower, together with a certificate of such officer of
Borrower, certifying the names of the officer(s) of Borrower authorized to sign
this Agreement, the Pledge Agreement, the Note and any other documents provided
for in this Agreement, together with a sample of the true signature of each
such Person (Lender may conclusively rely on such certificate until formally
advised by a like certificate of any changes therein).

 

17

 

(iv)                              Governing
Documents.  A copy of the articles
of incorporation and by-laws of Borrower, certified by the secretary or
assistant secretary of Borrower.

 

(v)                                 Certificate
of No Default.  A certificate signed
by an appropriate officer of Borrower to the effect that: (A) no Event of
Default or Unmatured Event of Default has occurred and is continuing or will
result from the making of the first Loan; and (B) the representations and
warranties of Borrower contained herein are true and correct as at the date of
the first Loan as though made on that date.

 

(vi)                              Opinion
of Counsel to Borrower.  An opinion
of counsel to Borrower substantially in the form of Exhibit B attached
hereto.

 

(vii)                           Good Standing Certificate.  A good standing certificate from Borrower’s
Federal Reserve Bank and from the Secretary of State of California.

 

(viii)                        Other Bank Agreements.  A copy of the Other Bank Agreements, duly
executed by Borrower and the Other Banks, certified by an appropriate officer
of Borrower, which certificate shall represent that, except for the names of
the Other Banks and related information therein and the amount of the
commitments to make revolving loans thereunder, each Other Bank Agreement is
identical in all material respects to this Agreement.

 

(ix)                                Intercreditor
Agreement.  An intercreditor
agreement entered into between Lender and the Other Banks as to, among other
things, the Pledged Shares.

 

(x)                                   Miscellaneous.  Such other documents and certificates as
Lender may reasonably request.

 

(xi)                                Closing
Fee.  A closing fee in the amount of
$43,750.

 

(b)                                 Representations
and Warranties True.  At the date of
each Loan, Borrower’s representations and warranties set forth herein shall be
true and correct as of such date as though made on such date.

 

(c)                                  No
Default.  At the time of each Loan,
and immediately after giving effect to such Loan, no Event of Default or
Unmatured Event of Default shall have occurred and be continuing at the time of
such Loan, or would result from the making of such Loan.

 

(d)                                 Pro
Rata Division of Loans.  At the time
of each Loan and before and after giving effect thereto, the principal amount
of Loans outstanding under this Agreement and loans outstanding under the Other
Bank Agreements shall be divided ratably among the Lender and the Other Banks.

 

SECTION 6.2.                                         AUTOMATIC
UPDATE OF REPRESENTATIONS AND WARRANTIES AND NO-DEFAULT CERTIFICATE;
CERTIFICATE AT LENDER’S OPTION.  The request by Borrower for any Loan shall be deemed a
representation and warranty by Borrower that the statements in subsections
(b) and (c) of Section 6.l are true and correct on and
as at the date of each succeeding Loan, as the case may be.  Upon receipt of each Loan

 

18

 

request Lender in its
sole discretion shall have the right to request that Borrower provide to
Lender, prior to Lender’s funding of the Loan, a certificate executed by
Borrower’s President, Treasurer, or Chief Financial Officer to such effect.

 

SECTION 7.  DEFAULT

 

SECTION 7.1.                                         EVENTS
OF DEFAULT.  The occurrence
of any of the following shall constitute an “Event of Default”:

 

(a)                                  failure
to pay, when and as due, any principal, interest or other amounts payable
hereunder or under the Note; provided that, in the case of interest only, such
failure shall continue for three (3) days after its due date;

 

(b)                                 any
default, event of default, or similar event shall occur or continue under any
other instrument, document, note or agreement delivered to Lender in connection
with this Agreement, including without limitation, the Pledge Agreement, and
any applicable cure period provided therein shall have expired; or any such
instrument, document, note or agreement shall not be, or shall cease to be,
enforceable in accordance with its terms;

 

(c)                                  there
shall occur any default or event of default, or any event or condition that
might become such with notice or the passage of time or both, or any similar
event, or any event that requires the prepayment of borrowed money or the
acceleration of the maturity thereof, under the terms of any evidence of
indebtedness or other agreement issued or assumed or entered into by Borrower
or any Subsidiary (including the Other Bank Agreements) for obligations in an
aggregate amount in excess of Two Million and No/100 United States Dollars
($2,000,000), or under the terms of any indenture, agreement, or instrument
under which any such evidence of indebtedness or other agreement is issued,
assumed, secured, or guaranteed, and such event shall continue beyond any
applicable period of grace provided therein;

 

(d)                                 any
representation, warranty, schedule, certificate, financial statement, report,
notice, or other writing furnished by or on behalf of Borrower or any
Subsidiary to Lender is false or misleading in any material respect on the date
as of which the facts therein set forth are stated or certified;

 

(e)                                  Any
guaranty of or pledge of collateral security for the Loans shall be repudiated
or become unenforceable or incapable of performance or Borrower shall fail to
pledge and deliver to Lender any share certificate of Pacific Western National
Bank as provided in Section 3(c) of the Pledge Agreement;

 

(f)                                    Borrower
or any Subsidiary shall fail to comply with Sections 3.3, 5.l, 5.2(e)
and (f), 5.4, 5.5, 5.6, 5.7 and 5.11
hereof; or fail to comply with or perform any agreement or covenant of Borrower
or any Subsidiary contained herein, which failure does not otherwise constitute
an Event of Default, and such failure shall continue unremedied for thirty (30)
days after notice thereof to Borrower by Lender;

 

(g)                                 an
event or condition specified in Section 4.13(b) shall occur or
exist and if as a result of such event or condition, together with all other
such events or conditions if any,

 

19

 

Borrower or any ERISA Affiliate shall incur, or, in
the reasonable opinion of Lender, shall be reasonably likely to incur, a liability
to a Plan, a Multiemployer Plan or the PBGC (or any combination of the
foregoing) which is, in the reasonable determination of Lender, materially
adverse to the consolidated assets, financial condition business or operations
taken as a whole of Borrower and its Subsidiaries;

 

(h)                                 any
Person, or two or more Persons acting in concert, shall acquire beneficial
ownership (within the meaning of Rule 13d-3 of the Securities and Exchange
Commission under the Securities Exchange Act of 1934) of 50% or more of the
outstanding shares of voting stock of Borrower;

 

(i)                                     any
proceeding (judicial or administrative) shall be commenced against Borrower or
any Subsidiary, or with respect to any assets of Borrower or any Subsidiary
which could reasonably be expected to have a material and adverse effect on the
consolidated assets, financial condition, business or operations of Borrower
and its Subsidiaries and which is not dismissed within thirty (30) days after
it is commenced against Borrower or any Subsidiary; or final judgment(s) and/or
settlement(s) in an aggregate amount that is more than ONE MILLION UNITED
STATES DOLLARS ($1,000,000) in excess of insurance for which the insurer has
confirmed coverage in writing, a copy of which writing has been furnished to
Lender, shall be entered or agreed to in any suit or action commenced against
Borrower or any Subsidiary, and which are not satisfied within thirty (30) days
after they have been entered or agreed to in any suit or action commenced
against Borrower or any Subsidiary;

 

(j)                                     Borrower
shall grant or any Person (other than the Collateral Agent for the benefit of
Lender and the Other Banks) shall obtain a security interest in any collateral
for the Loans; Borrower or any other Person (other than the Collateral Agent
for the benefit of Lender and the Other Banks) shall perfect (or attempt to
perfect) such a security interest; a court shall determine that Collateral
Agent does not have a first priority security interest (for the benefit of
Lender and the Other Banks) in any of the collateral for the Loans enforceable
in accordance with the terms of the related documents; or any notice of a
federal tax lien against Borrower shall be filed with any public recorder and
is not satisfied within thirty (30) days from the time of such filing, unless
Borrower is contesting the validity thereof in good faith by appropriate
proceedings and has set aside on its books adequate reserves with respect
thereto in accordance with generally accepted accounting principles;

 

(k)                                  There
shall be any material loss or depreciation in the value of any collateral for
the Loans for any reason, or, unless expressly permitted by the related
documents, all or any part of any collateral for the Loans or any direct,
indirect, legal, equitable or beneficial interest therein is assigned,
transferred or sold without Lender’s prior written consent;

 

(l)                                     any
Federal Reserve Bank, the FDIC or other regulatory entity shall issue or agree
to enter into any formal enforcement action with or against Borrower or any Subsidiary
(including, but not limited to, a formal written agreement, cease and desist
order, suspension, removal or prohibition order or capital directive, but
excluding a civil money

 

20

 

penalty), or any Federal Reserve Bank, the FDIC or
other regulatory entity shall issue or enter into any informal enforcement
action with or against Borrower or any Subsidiary (including, but not limited
to, a commitment letter, memorandum of understanding or any similar action) or
assess a civil money penalty, which in each case is materially adverse to the
consolidated assets, financial condition, business or operations of Borrower or
any Subsidiary;

 

(m)                               Borrower
or any Subsidiary (other than an Insignificant Subsidiary) shall fail to comply
with Section 5.1 hereof or shall suspend the transaction of all or
a substantial portion of its usual business or Borrower or any Subsidiary
(other than an Insignificant Subsidiary) shall take any corporation action to
approve or authorize to approve any action or omission that would result in any
of the foregoing;

 

(n)                                 any
bankruptcy, insolvency, reorganization, arrangement, readjustment or similar
proceeding, domestic or foreign, is instituted by or against Borrower or any
Subsidiary, and in the case of an involuntary bankruptcy proceeding, such
proceeding is not dismissed within sixty (60) days (it is acknowledged and
agreed that Lender has no obligation to make Loans during such cure period); or
Borrower or any Subsidiary shall take any steps toward, or to authorize, such a
proceeding; or

 

(o)                                 Borrower
or any Subsidiary shall become insolvent, generally shall fail or be unable to
pay its debts as they mature, shall admit in writing its inability to pay its
debts as they mature, shall make a general assignment for the benefit of its
creditors or shall enter into any composition or similar agreement.

 

SECTION 7.2.                                         DEFAULT REMEDIES.

 

(a)                                  Upon
the occurrence and during the continuance of any Event of Default specified in Section 7.l(a)-(m),
Lender at its option may declare the Note (principal, interest and other
amounts) and any other amounts owed to Lender, including without limitation any
accrued but unpaid Commitment Fee, immediately due and payable without notice
or demand of any kind.  Upon the
occurrence of any Event of Default specified in Section 7.l(n)-(o),
the Note (principal, interest and other amounts) and any other amounts owed to
Lender, including without limitation any accrued but unpaid Commitment Fee,
shall be immediately and automatically due and payable without action of any
kind on the part of Lender.  Upon the
occurrence and during the continuance of any Event of Default, any obligation
of Lender to make any Loan shall immediately and automatically terminate
without action of any kind on the part of Lender, and Lender may exercise any
rights and remedies under this Agreement, the Pledge Agreement, the Note, any
related document or instrument, and at law or in equity.

 

(b)                                 Lender
may, by written notice to Borrower, at any time and from time to time, waive
any Event of Default or Unmatured Event of Default, which shall be for such
period and subject to such conditions as shall be specified in any such
notice.  In the case of any such waiver,
Lender and Borrower shall be restored to their former position and rights
hereunder, and any Event of Default or Unmatured Event of Default so waived
shall be deemed to be cured and not continuing; but no such waiver shall extend
to or

 

21

 

impair any subsequent or other Event of Default or
Unmatured Event of Default.  No failure
to exercise, and no delay in exercising, on the part of Lender of any right,
power or privilege hereunder shall preclude any other or further exercise
thereof or the exercise of any other right, power or privilege.  The rights and remedies of Lender herein
provided are cumulative and not exclusive of any rights or remedies provided by
law.

 

SECTION 8.  DEFINITIONS

 

SECTION 8.1.                                         GENERAL.  As used herein:

 

(a)                                  The
term “Banking Day” means a day on which Lender is open at its main
office for the purpose of conducting a commercial banking business and is not
authorized to close.

 

(b)                                 The
term “Code” shall mean the Internal Revenue Code of 1986, as amended
form time to time.

 

(c)                                  The
term “Environmental Laws” shall mean all federal, state and local laws,
including statutes, regulations, ordinances, codes, rules and other
governmental restrictions and requirements, relating to the discharge of air
pollutants, water pollutants or process waste water or otherwise relating to
the environment or hazardous substances or the treatment, processing, storage,
disposal, release, transport or other handling thereof, including, but not
limited to, the federal Solid Waste Disposal Act, the federal Clean Air Act,
the federal Clean Water Act, the federal Resource Conservation and Recovery
Act, the federal Hazardous Materials Transportation Act, the federal
Comprehensive Environmental Response, Compensation and Liability Act of 1980,
the federal Toxic Substances Control Act, regulations of the Nuclear Regulatory
Agency, and regulations of any state department of natural resources or state
environmental protection agency, in each case as now or at any time hereafter
in effect.

 

(d)                                 The
term “ERISA” shall mean the Employee Retirement Income Security Act of
1974, as amended from time to time.

 

(e)                                  The
term “ERISA Affiliate” shall mean any corporation or trade or business
which is a member of the same controlled group of corporations (within the meaning
of Section 414(b) of the Code) as Borrower or is under common control
(within the meaning of Section 414(c) of the Code) with Borrower.

 

(f)                                    The
term “FDIC” means the Federal Deposit Insurance Corporation and any
successor thereof.

 

(g)                                 The
term “Interest Period” means, with regard to LIBOR Loans, the amount of
days from the date an interest rate is to be in effect to the date such
interest period matures according to its terms.

 

(h)                                 The
term “Interim Maturity Date” means the last day of any Interest Period.

 

22

 

(i)                                     The
term “Multiemployer Plan” shall mean a multiemployer plan defined as
such in Section 3(37) of ERISA to which contributions have been made by
Borrower or any ERISA Affiliate as a “contributing sponsor” (within the meaning
of Section 4001(a)(13) of ERISA).

 

(j)                                     The
term “Other Banks” means the other banks party to the Other Bank
Agreements, together with their successors and assigns party to such Other Bank
Agreements.

 

(k)                                  The
term “Other Bank Agreements” means that certain Amended and Restated
Revolving Credit Agreement dated even date herewith between Borrower and The
Northern Trust Company, and the notes, guaranties, pledge agreements and the
other documents delivered in connection therewith, as each may be amended,
modified or supplemented from time to time.

 

(l)                                     The
term “PBGC” shall mean the Pension Benefit Guaranty Corporation or any
entity succeeding to any or all of its functions under ERISA.

 

(m)                               The
term “Pension Plan” shall mean any Plan which is a “defined benefit
plan” within the meaning of Section 3(35) of ERISA.

 

(n)                                 The
term “Person” shall mean any individual, corporation, company, limited
liability company, voluntary association, partnership, trust, estate,
unincorporated organization or government (or any agency, instrumentality or
political subdivision thereof).

 

(o)                                 The
term “Plan” shall mean any plan, program or arrangement covering current
or former employees of Borrower or any of its ERISA Affiliates which
constitutes an “employee benefit plan” within the meaning of Section 3(3)
of ERISA.

 

(p)                                 The
term “Prime Rate” means that rate of interest announced from time to
time by Lender called its prime rate, which rate may not at any time be the
lowest rate charged by Lender.  Changes
in the rate of interest on the Loans resulting from a change in the Prime Rate
shall take effect on the date set forth in each announcement of a change in the
Prime Rate.

 

(q)                                 The
term “Subsidiary” means any corporation, partnership, joint venture, trust,
or other legal entity of which Borrower owns directly or indirectly twenty-five
percent (25%) or more of the outstanding voting stock or interest, or of which
Borrower has effective control, by contract or otherwise.  The term Subsidiary includes each Subsidiary
Bank unless stated otherwise explicitly.

 

(r)                                    The
term “Subsidiary Bank” means each Subsidiary which is a bank.

 

(s)                                  The
term “Tier 1 Capital” means the same as that determined under the
capital formula currently used by the Federal Reserve Board.

 

23

 

(t)                                    The
term “Total Capital” means the same as that determined under the capital
formula currently used by the Federal Reserve Board.

 

(u)                                 The
term “Trust Guarantee” means any guarantee of Borrower of the Trust
Preferred Securities, which guarantee is subordinate and junior in right of
payment to the prior payment of the obligations of Borrower hereunder and under
the Note on terms satisfactory to Lender.

 

(v)                                 The
term “Trust Indebtedness” means indebtedness of Borrower payable to the
Trust Issuer or its transferees (a) which is due not earlier than the date
thirty (30) years after its issuance, (b) which may not be redeemed
earlier than five (5) years after issuance and (c) the payment of which is subordinate
and junior in right of payment to the prior payment of the obligations of
Borrower hereunder and under the Note on terms satisfactory to Lender.

 

(w)                               The
term “Trust Issuer” means a wholly-owned Subsidiary of Borrower which
qualifies as a Delaware or Connecticut statutory business trust.

 

(x)                                   The
term “Trust Preferred Securities” means preferred securities issued by
the Trust Issuer (a) which are subject to mandatory redemption not earlier than
the date thirty (30) years after issuance and (b) which may not be
optionally redeemed earlier than five (5) years after issuance.

 

(y)                                 The
term “Unmatured Event of Default” means an event or condition which
would become an Event of Default with notice or the passage of time or both.

 

Except as and unless otherwise specifically provided herein, all
accounting terms shall have the meanings given to them by generally accepted
accounting principles and shall be applied and all reports required by this
Agreement shall be prepared, in a manner consistent with the financial
statements referred to in Section 4.3 above.

 

SECTION 8.2.                                         APPLICABILITY
OF SUBSIDIARY REFERENCES. 
Terms hereof pertaining to any Subsidiary shall apply only during such
times as Borrower has any Subsidiary.

 

SECTION 9.  NO INTEREST OVER LEGAL RATE.

 

Borrower does not intend or expect to pay, nor does
Lender intend or expect to charge, accept or collect any interest which, when
added to any fee or other charge upon the principal which may legally be
treated as interest, shall be in excess of the highest lawful rate.  If acceleration, prepayment or any other
charges upon the principal or any portion thereof, or any other circumstance,
result in the computation or earning of interest in excess of the highest
lawful rate, then any and all such excess is hereby waived and shall be applied
against the remaining principal balance. 
Without limiting the generality of the foregoing, and notwithstanding
anything to the contrary contained herein or otherwise, no deposit of funds
shall be required in connection herewith which will, when deducted from the
principal amount outstanding hereunder, cause the rate of interest hereunder to
exceed the highest lawful rate.

 

24

 

SECTION 10.  PAYMENTS, ETC.

 

All payments hereunder shall be made in immediately
available funds, and shall be applied first to accrued interest and then to
principal; however, if an Event of Default occurs, Lender may, in its sole
discretion, and in such order as it may choose, apply any payment to interest,
principal and/or lawful charges and expenses then accrued.  Borrower shall receive immediate credit on
payments received during Lender’s normal banking hours if made in cash,
immediately available funds, or by debit to available balances in an account at
Lender; otherwise payments shall be credited after clearance through normal
banking channels.  Borrower authorizes
Lender to charge any account of Borrower maintained with Lender for any amounts
of principal, interest, taxes, duties, or other charges or amounts due or
payable hereunder, with the amount of such payment subject to availability of
collected balances in Lender’s discretion; unless Borrower instructs otherwise,
all Loans shall be made in immediately available funds and shall be credited to
an account(s) of Borrower with Lender. 
All payments shall be made without deduction for or on account of any
present or future taxes, duties or other charges levied or imposed on this
Agreement, the Pledge Agreement, the Note, the Loans or the proceeds, Lender or
Borrower by any government or political subdivision thereof.  Borrower shall upon request of Lender pay
all such taxes, duties or other charges in addition to principal and interest,
including without limitation all documentary stamp and intangible taxes, but
excluding income taxes based solely on Lender’s income.

 

SECTION 11.  SETOFF.

 

At any time after an Event of Default of Unmatured
Event of Default shall have occurred and be continuing, and upon notice to
Borrower, any account, deposit or other indebtedness owing by Lender to
Borrower, and any securities or other property of Borrower delivered to or left
in the possession of Lender or its nominee or bailee, may be set off against
and applied in payment of any obligation hereunder, whether due or not.  The setoff provision in this Section 11
shall not be applicable to any accounts (and deposits or property therein)
maintained at Lender in the name of Borrower or any of its Subsidiaries for
which Borrower or such Subsidiaries have established and maintained in trust
for the benefit of any third party (not including, however, any affiliate of
Borrower or any such Subsidiary). 
Borrower shall be obligated to notify Lender promptly upon the receipt
of any such notice of setoff, and provide supporting documentation, in form and
substance reasonably satisfactory to Lender, to establish, in the reasonable
opinion of Lender, that any account subject to such setoff is in fact held by
Borrower or any of its Subsidiaries, as the case may be, in trust for the
benefit of any third party (not including, however, any affiliate or Borrower
or any such Subsidiary).  If Borrower
fails to comply with the foregoing sentence, Lender may assume that its setoff
of any account or other property is valid and permissible.

 

SECTION 12.  NOTICES

 

All notices, requests and demands to or upon the
respective parties hereto shall be made, if to Lender, to its office indicated
above (Attention:  Jon B. Beggs, Vice
President), and if to Borrower, to its address set forth below, or to such
other address as may be hereafter designated in writing by the respective
parties hereto or, as to Borrower, may appear in Lender’s records.  Notices sent by facsimile transmission shall
be deemed to have been given upon electronic

 

25

 

confirmation;
notices sent by mail shall be deemed to have been given three (3) business days
after the date when sent by registered or certified mail, postage prepaid;
notices sent by personal delivery or by a nationally recognized overnight
delivery service (e.g., Federal Express) shall be deemed to have been given
when received.

 

SECTION 13.  MISCELLANEOUS.

 

This Agreement and any document or instrument executed
in connection herewith shall be governed by and construed in accordance with
the internal law of the State of New York. 
This Agreement may only be amended, supplemented or modified at any time
by written instrument duly executed by Lender and Borrower.  Concurrently with the execution of any
amendment to this Agreement, Borrower shall deliver to Lender a substantially
similar amendment to the Other Bank Agreements signed by each of the Other
Banks, certified by an appropriate officer of Borrower.  Failure to deliver such amendment to the
Other Bank Agreements shall entitle Lender to declare an Event of Default under
Section 7.1(f) of this Agreement, without any further notice.  Unless the context requires otherwise,
wherever used herein the singular shall include the plural and vice versa, and
the use of one gender shall also denote the other.  Captions herein are for convenience of reference only and shall
not define or limit any of the terms or provisions hereof; references herein to
Sections or provisions without reference to the document in which they are
contained are references to this Agreement. 
This Agreement shall bind Borrower, its successors and assigns, and
shall inure to the benefit of Lender, its successors and assigns, except that
Borrower may not transfer or assign any of its rights or interest hereunder
without the prior written consent of Lender. 
Borrower agrees to pay upon demand all expenses (including without
limitation reasonable attorneys’ fees, legal costs and expenses, whether in or
out of court, in original or appellate proceedings or in bankruptcy) incurred
or paid by Lender or any holder of the Note in connection with (a) the
negotiation, preparation, execution and delivery of this Agreement, the Note,
the Pledge Agreement and the other documents to be delivered hereunder, (b) any
amendment, modification or waiver of any of the terms of this Agreement, the
Pledge Agreement or the Note, (c) any Event of Default or Unmatured Event of
Default and any enforcement or collection proceedings resulting therefrom, and
(d) any transfer, stamp, documentary or other similar taxes, assessments or
charges levied by any governmental or revenue authority in respect of this
Agreement, the Pledge Agreement, the Note or any other document referred to
herein; provided, that, Borrower shall not be obligated to pay Lender for
Lender’s attorneys’ fees and expenses for the matters described in the
foregoing clause (a) which exceed $7,500.  Except as otherwise specifically provided herein, Borrower
expressly and irrevocably waives presentment, protest, demand and notice of any
kind in connection herewith.

 

SECTION 14.  ARBITRATION AND WAIVER OF JURY TRIAL

 

(a)                                  This
Section concerns the resolution of any controversies or claims between
Lender and Borrower, whether arising in contract, tort or by statute, including
but not limited to controversies or claims that arise out of or relate to:  (i) this Agreement (including any
renewals, extensions or modifications); or (ii) any document executed in
connection with this Agreement (collectively, a “Claim”).

 

26

 

(b)                                 At
the request of Lender or Borrower, any Claim shall be resolved by binding
arbitration in accordance with the Federal Arbitration Act (Title 9, U.S.
Code) (the “Act”).  The Act will
apply even though this Agreement provides that it is governed by the law of a
specified state.

 

(c)                                  Arbitration
proceedings will be determined in accordance with the Act, the applicable rules
and procedures for the arbitration of disputes of JAMS or any successor thereof
(“JAMS”), and the terms of this Section.  In the event of any inconsistency, the terms of this
Section shall control.

 

(d)                                 The
arbitration shall be administered by JAMS and conducted, unless otherwise
required by law, in the State of California. 
All Claims shall be determined by one arbitrator; however, if Claims
exceed Five Million Dollars ($5,000,000), upon the request of Lender or
Borrower, the Claims shall be decided by three arbitrators.  All arbitration hearings shall commence
within thirty (30) days of the demand for arbitration and close within thirty
(30) days of commencement and the award of the arbitrator(s) shall be issued
within thirty (30) days of the close of the hearing.  However, the arbitrator(s), upon a showing of good cause, may
extend the commencement of the hearing for up to an additional sixty (60)
days.  The arbitrator(s) shall provide a
concise written statement of reasons for the award.  The arbitration award may be submitted to any court having
jurisdiction to be confirmed and enforced.

 

(e)                                  The
arbitrator(s) will have the authority to decide whether any Claim is barred by
the statute of limitations and, if so, to dismiss the arbitration on that
basis.  For purposes of the application
of the statute of limitations, the service on JAMS under applicable JAMS rules
of a notice of Claim is the equivalent of the filing of a lawsuit.  Any dispute concerning this arbitration
provision or whether a Claim is arbitrable shall be determined by the
arbitrator(s).  The arbitrator(s) shall
have the power to award legal fees pursuant to the terms of this Agreement.

 

(f)                                    This
Section does not limit the right of Lender or Borrower to:  (i) exercise self-help remedies, such
as, but not limited to, setoff; (ii) initiate judicial or non-judicial
foreclosure against any real or personal property collateral;
(iii) exercise any judicial or power of sale rights, or (iv) act in a
court of law to obtain an interim remedy, such as, but not limited to,
injunctive relief, writ of possession or appointment of a receiver, or
additional or supplementary remedies.

 

(g)                                 The
filing of a court action is not intended to constitute a waiver of the right of
any party, including the suing party, thereafter to require submittal of the
Claim to arbitration.

 

(h)                                 By
agreeing to binding arbitration, the parties irrevocably and voluntarily waive
any right they may have to a trial by jury in respect of any Claim.  Furthermore, without intending in any way to
limit this Agreement to arbitrate, to the extent any claim is not arbitrated,
the parties irrevocably and voluntarily waive any right they may have to a
trial by jury in respect of such Claim. 
This provision is a material inducement for the parties entering into
this Agreement.

 

27

 

[Signature Page Follows]

 

28

 

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

 

 

	
   

  	
  FIRST COMMUNITY
  BANCORP

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:  Lynn M. Hopkins

  
	
   

  	
  Title:  EVP, Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
  Address for
  notices:

  
	
   

  	
   

  
	
   

  	
  120 Wilshire
  Blvd.

  
	
   

  	
  Santa Monica,
  California  90401

  
	
   

  	
  Attention:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  U.S. BANK
  NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:  Jon B. Beggs

  
	
   

  	
  Title:  Vice President

  
					

 

29

 

SCHEDULE 4.3

 

MATERIAL ADVERSE CHANGE/CONTINGENT
LIABILITIES

 

NONE

 

 

SCHEDULE 4.8

 

LITIGATION

 

NONE

 

 

SCHEDULE 4.11

 

SUBSIDIARIES

 

	
  SUBSIDIARY

  	
   

  	
  STATE

  	
   

  	
  PERCENTAGE
  OWNED

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  First National Bank

  	
   

  	
  Federally chartered
  doing business in California

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Pacific Western National Bank

  	
   

  	
  Federally
  chartered doing business in California

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bankshares Service Corporation  (a wholly owned subsidiary of First
  National Bank)

  	
   

  	
  California

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Desert Community Properties  (a wholly owned subsidiary of Pacific
  Western National Bank)

  	
   

  	
  California

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  First Charter Merchant Card Consulting Services,
  Inc.  (a wholly owned subsidiary of
  Pacific Western National Bank

  	
   

  	
  California

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  First Community/CA Statutory Trust

  	
   

  	
  Connecticut

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  First Community/CA Statutory Trust II

  	
   

  	
  Connecticut

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  First Community Statutory Trust III

  	
   

  	
  Delaware

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  First Community/CA Statutory Trust IV

  	
   

  	
  Connecticut

  	
   

  	
  100

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Professional Bancorp Mortgage, Inc.  (a wholly owned subsidiary of Pacific
  Western National Bank)

  	
   

  	
  California

  	
   

  	
  100

  	
  %

  
	
  First Community/CA Statutory Trust V

  	
   

  	
  Connecticut

  	
   

  	
  100

  	
  %

  

 

 

SCHEDULE 5.5(a)

 

INDEBTEDNESS

 

NONE

 

 

SCHEDULE 5.5(b)

 

LIENS

 

NONE

 

 

EXHIBIT A

 

REVOLVING CREDIT NOTE

 

	
  $17,500,000

  	
   

  	
  Milwaukee,
  Wisconsin

  
	
   

  	
   

  	
  August 15,
  2003

  

 

FOR VALUE RECEIVED, on or before the Maturity Date, FIRST
COMMUNITY BANCORP, a corporation formed under the laws of the State
of California (“Borrower”), promises to pay to the order of U.S. BANK
NATIONAL ASSOCIATION, a national banking association (hereafter,
together with any subsequent holder hereof, called “Lender”), at its
banking office at 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202, or at
such other place as Lender may direct, the aggregate unpaid principal balance
of each advance (a “Loan” and collectively the “Loans”) made by
Lender to Borrower hereunder.  The total
principal amount of Loans outstanding at any one time hereunder shall not
exceed SEVENTEEN MILLION FIVE HUNDRED THOUSAND UNITED STATES DOLLARS
($17,500,000).

 

Lender is hereby authorized by Borrower at any time
and from time to time at Lender’s sole option to attach a schedule (grid)
to this Note and to endorse thereon notations with respect to each Loan
specifying the date and principal amount thereof, and the date and amount of
each payment of principal and interest made by Borrower with respect to each
such Loan.  Lender’s endorsements as
well as its records relating to Loans shall be rebuttably presumptive evidence
of the outstanding principal and interest on the Loans, and, in the event of
inconsistency, shall prevail over any records of Borrower and any written
confirmations of Loans given by Borrower.

 

Borrower agrees to pay interest on the unpaid
principal amount from time to time outstanding hereunder on the dates and at
the rate or rates as set forth in the Revolving Credit Agreement (as
hereinafter defined).

 

Payments of both principal and interest are to be made
in immediately available funds in lawful money of the United States of America.

 

This Note evidences indebtedness incurred under that
certain Revolving Credit Agreement dated as of the date hereof executed by and
between Borrower and Lender (and, if amended, restated or replaced, all
amendments, restatements and replacements thereto or therefor, if any) (the “Revolving
Credit Agreement;” capitalized terms not otherwise defined herein have the
same meaning herein as in the Revolving Credit Agreement).  Reference is hereby made to the Revolving
Credit Agreement for a statement of its terms and provisions, including without
limitation those under which this Note may be paid prior to its due date or
have its due date accelerated.

 

Borrower agrees to pay upon demand all expenses
(including without limitation attorneys’ fees, legal costs and expenses, in
each case whether in or out of court, in original or appellate proceedings or
in bankruptcy) incurred or paid by Lender or any holder hereof in connection
with the enforcement or preservation of its rights hereunder or under any
document

 

 

or instrument
executed in connection herewith. 
Borrower expressly and irrevocably waives presentment, protest, demand
and notice of any kind in connection herewith.

 

This Note is secured by the property described in the
Pledge Agreement (as such term is defined in the Revolving Credit Agreement),
to which reference is made for a description of the collateral provided thereby
and the rights of Lender and Borrower in respect of such collateral.

 

This Note and any document or instrument executed in
connection herewith shall be governed by and construed in accordance with the
internal law of the State of New York. 
Unless the context requires otherwise, wherever used herein the singular
shall include the plural and vice versa, and the use of one gender shall also
denote the other.  Captions herein are
for convenience of reference only and shall not define or limit any of the
terms or provisions hereof; references herein to Sections or provisions without
reference to the document in which they are contained are references to this
Note.  This Note shall bind Borrower,
its successors and assigns, and shall inure to the benefit of Lender, its
successors and assigns, except that Borrower may not transfer or assign any of
its rights or interest hereunder without the prior written consent of Lender.

 

	
   

  	
  FIRST COMMUNITY
  BANCORP

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

2Exhibit
10.5

 

AMENDED AND RESTATED PLEDGE AGREEMENT

 

AMENDED AND RESTATED PLEDGE AGREEMENT (this “Agreement”)
dated as of August 15, 2003 between FIRST COMMUNITY BANCORP (the “Pledgor”)
and THE NORTHERN TRUST COMPANY, as collateral agent (hereinafter, in such
capacity, the “Pledgee”), for the benefit of the Pledgee and the Secured
Parties (as defined below).

 

WHEREAS, Pledgor and The Northern Trust Company (“Northern”)
are parties to that certain Revolving Credit Agreement dated as of
June 26, 2000, as amended (the “Prior Northern Credit Agreement”)
pursuant to which Northern, subject to the terms and conditions contained
therein, has made loans to Pledgor;

 

WHEREAS, Northern and Pledgor are also parties to that
certain Pledge Agreement dated as of June 26, 2000, as amended (the “Prior
Pledge Agreement”), pursuant to which Pledgor has pledged to Northern a
continuing first priority security interest in and to its rights and interests
in certain shares of capital stock of its subsidiaries, including the Collateral
(as defined below);

 

WHEREAS, in order to memorialize certain
understandings and agreements between the Pledgor and Northern, Pledgor and
Northern are concurrently herewith entering into an Amended and Restated
Revolving Credit Agreement dated as of even date herewith (as amended,
restated, modified or supplemented from time to time, the “Northern Credit
Agreement”), which Northern Credit Agreement is intended, among other
things, to amend and restate and supersede the Prior Northern Credit Agreement;

 

WHEREAS, Pledgor and U.S. Bank National Association (“US
Bank”; together with Northern, collectively, the “Secured Parties”)
are concurrently herewith entering into that certain Revolving Credit Agreement
dated as of even date herewith (as amended, restated, modified or supplemented
from time to time, the “US Bank Credit Agreement”; together with the
Northern Credit Agreement, collectively, the “Credit Agreements”)
pursuant to which, subject to the terms and conditions contained therein, US
Bank agrees to make loans to Pledgor;

 

WHEREAS, Northern and US Bank are concurrently
herewith entering into that certain Intercreditor Agreement dated as of even
date herewith (as amended, restated, modified or supplemented from time to
time, the “Intercreditor Agreement”) pursuant to which Northern and US
Bank have set forth certain agreements with respect to, among other things, the
sharing of the Collateral to secure Pledgor’s obligations to each of Northern
and US Bank under the Northern Credit Agreement and the US Bank Credit
Agreement, respectively; and

 

WHEREAS, Pledgor and Pledgee now desire to amend and
restate the Prior Pledge Agreement into this Agreement in order to reaffirm
Pledgor’s grant to Pledgee, for the benefit of Pledgee and the Secured Parties,
as security for the loans and other financial accommodations extended by the
Secured Parties to Pledgee under the Credit Agreements, of a first priority
security interest in the Collateral, and further desire to confirm that the
terms of Prior Pledge Agreement shall have no further force or effect except to
the extent necessary to preserve and maintain the enforceability and perfection
of Pledgee’s security interest in the Collateral;

 

 

NOW, THEREFORE, in consideration of the promises
contained herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree, and the
Prior Pledge Agreement is hereby amended and restated, as follows:

 

1.                                       Definitions.  Terms used herein and not defined herein
that are defined in the Uniform Commercial Code in effect from time to time in
the State of New York have such defined meanings herein (with terms used in
Article 9 controlling over terms used in another Article of the
Uniform Commercial Code), unless the context otherwise indicates or requires,
and the following terms shall have the following meanings:

 

“Collateral” shall mean the Pledged Shares, the
Stock Rights, and the proceeds of each.

 

“Credit Documents” shall mean, collectively,
the Credit Agreements, each of the promissory notes issued pursuant thereto and
the Intercreditor Agreement, each as amended, restated, replaced or extended
from time to time.

 

“Default” shall mean any “Event of Default”
as defined in the Intercreditor Agreement.

 

“Liabilities” shall mean all of the duties,
liabilities and obligations of the Pledgor under the Credit Documents and this
Agreement.

 

“Pledged Shares” shall mean 100% of the issued
and outstanding shares of capital stock of Pacific Western National Bank held
by the Pledgor or otherwise held from time to time by Pledgor.

 

“Stock Rights” shall mean any dividend or other
distribution (whether in cash, securities or other property) and any other
right or property which the Pledgor shall receive or shall become entitled to
receive for any reason whatsoever as a result of its being a holder of the
Pledged Shares, or with respect to, in substitution for, or in exchange for,
Pledged Shares.

 

2.                                       Grant
of Security Interest.  To secure the
payment and performance of the Liabilities, the Pledgor hereby pledges,
hypothecates, assigns, sets over and delivers to the Pledgee, for the benefit
of the Pledgee and the Secured Parties, and grants the Pledgee, for the benefit
of the Pledgee and the Secured Parties, a security interest in, the Collateral.

 

3.                                       Representations,
Warranties and Covenants.  The
Pledgor represents, warrants and covenants that:

 

(a)                                  The
Pledgor is the lawful owner of the Collateral, free and clear of all claims,
security interests, liens, encumbrances and rights of others, other than the
security interest hereunder, with full right to deliver, pledge, assign and
transfer the Collateral to the Pledgee, for the benefit of the Pledgee and the
Secured Parties, as Collateral hereunder and, until all Liabilities have been
fully, finally and irrevocably satisfied and discharged, the Pledgor shall
maintain the lien of this Agreement as a first priority lien on the Collateral
and shall not sell or otherwise dispose of all or any part of the Collateral
(except, prior to the occurrence of a Default, ordinary cash dividends received
by the Pledgor) and shall keep all of the Collateral free of any

 

2

 

liens, security interests, claims, encumbrances and rights of others
except those arising hereunder.

 

(b)                                 The
Pledgor agrees to deliver to the Pledgee from time to time upon request of the
Pledgee such stock powers, financing statements and other documents,
satisfactory in form and substance to the Pledgee, with respect to the Collateral
as the Pledgee may reasonably request.

 

(c)                                  The
Pledgor shall deliver to the Pledgee, to be held by the Pledgee for the benefit
of the Pledgee and the Secured Parties, the certificate(s) evidencing any
Pledged Shares held or acquired by the Pledgor from time to time, not later
than two Banking Days (as defined in the Credit Agreements) following the
acquisition thereof by the Pledgor, together with stock powers covering such
certificate(s) duly executed in blank by the Pledgor.

 

(d)                                 The
Pledgor agrees to hold in trust for the Pledgee, for the benefit of the Pledgee
and the Secured Parties, upon receipt and immediately thereafter as provided in
Section 3(c) pledge and deliver to the Pledgee, to be held by the
Pledgee for the benefit of the Secured Parties, any stock certificate,
instrument or other document evidencing or constituting Collateral (except,
prior to the occurrence of a Default, ordinary cash dividends paid with respect
to the Pledged Shares).

 

(e)                                  The
Pledgor agrees to pay when due all taxes, assignments and governmental charges
and levies upon the Collateral.

 

4.                                       Care
of Collateral.  The Pledgee shall
use reasonable care with respect to the preservation and maintenance of the
Collateral; provided that the Pledgee shall not be liable to the Pledgor for
any action taken by it in good faith, nor shall the Pledgee be responsible for
the consequences of any action or failure to act except to the extent that such
action or failure to act is the proximate result of the gross negligence, lack
of good faith or willful misconduct of the Pledgee, its agents or employees.

 

5.                                       Dividends
and Voting.  Prior to the occurrence
of a Default, the Pledgor shall be entitled (i) to receive and retain all
ordinary cash dividends in respect of the Pledged Shares and (ii) to exercise
all voting rights in respect of the Pledged Shares.  If any Default occurs and is continuing, all cash dividends
distributed in respect of the Pledged Shares shall be delivered to the Pledgee
and held as Collateral hereunder, for the benefit of the Pledgee and the
Secured Parties.

 

6.                                       Remedies
Upon Default.  In addition to rights
granted under other provisions of this Agreement, upon the occurrence of a
Default hereunder the Pledgee may from time to time exercise any one or more of
the following remedies:

 

(a)                                  The
Pledgee may exercise, as to all or any part of the Collateral, any one or more
or all of the rights and remedies granted to a secured party under the Uniform
Commercial Code as in effect from time to time in the State of New York or
otherwise available at law or in equity, to assure that the Collateral is
devoted to the satisfaction of all Liabilities.

 

3

 

(b)                                 The
Pledgee may exercise all voting and corporate rights respecting the Collateral,
including, without limitation, exchange, subscription or any other rights,
privileges or options pertaining to any of the Pledged Shares and the Stock
Rights as if the Pledgee were the absolute owner thereof.

 

(c)                                  (i)                                     The
Pledgee may sell, assign, contract to sell or otherwise dispose of all or any
portion of the Collateral in any commercially reasonable manner, including by
private or public sale at such prices and on such terms as the Pledgee deems
reasonable under the circumstances, for cash or on credit or for future
delivery and without the assumption of any credit risk.  The Pledgee shall give the Pledgor at least
fifteen (15) days’ written notice of the time and place of any public sale of
the Collateral, or any portion thereof, or of the time after which any private
sale or other disposition thereof is to be made, it being expressly
acknowledged that said fifteen (15) days’ notice, when given as herein
provided, constitutes reasonable notice. 
The Pledgee may purchase all or any portion of the Collateral at any
sale, and in that event payment of the purchase price may be made by credit
against the Liabilities.  Any sale,
assignment, contract to sell or other disposition shall be made free of any
right or equity of redemption in the Pledgor, which right or equity, if any, is
hereby released.  The net proceeds of
any disposition of the Collateral by the Pledgee, after deduction of all
expenses specified in Section 7, shall be applied toward
satisfaction of the Liabilities.

 

(ii)                                  The
Pledgor hereby agrees that in any sale of any of the Collateral hereunder, the
Pledgee is hereby authorized to comply with any limitation or restriction in
connection with such sale as it may be advised by counsel is necessary in order
to avoid any violation of applicable securities or other law (including,
without limitation, compliance with such procedures as may restrict the number
of prospective bidders and purchasers, require that such prospective bidders
and purchasers have certain qualifications, and restrict such prospective
bidders and purchasers to persons who will represent and agree that they are
purchasing for their own account for investment and not with a view to the
distribution or resale of such Collateral), or in order to obtain any required
approval of the sale or of the purchaser by any governmental regulatory
authority or official, and the Pledgor further agrees that such compliance
shall not result in such sale being considered or deemed not to have been made
in a commercially reasonable manner, nor shall the Pledgee be liable nor
accountable to the Pledgor for any discount allowed by reason of the fact that
such Collateral is sold in compliance with any such limitation or restriction.

 

(d)                                 To
the extent permitted by applicable law and upon any notice required by law, the
Pledgee may (but need not) retain the Collateral on behalf of the Pledgee and
the Secured Parties in full satisfaction of the Liabilities.

 

(e)                                  Without
prior notice to the Pledgor, the Pledgee may transfer all or any part of the
Collateral into the name of the Pledgee or its nominee, for the benefit of the
Pledgee and the Secured Parties.  The
Pledgee shall give notice to the Pledgor of such transfer after the completion
thereof.

 

4

 

(f)                                    The
Pledgee may, instead of or concurrently with exercising the power of sale or
any other right or remedy herein conferred upon it, while a Default exists,
proceed by a suit or suits at law or in equity to foreclose the lien on the
Collateral or any portion thereof and sell the same under a judgment or decree
of a court or courts of competent jurisdiction.

 

7.                                       Certain
Expenses.  In connection with any
disposition of the Collateral as in Section 6 provided, the Pledgor
shall pay and discharge all expenses, if any, of retaking, insuring, holding,
preparing for sale, selling and the like, including, without limiting the
generality of the foregoing, accounting and other professional fees and
expenses and reasonable attorneys’ fees and legal expenses incurred by the
Pledgee in connection with the enforcement of any of its rights hereunder.  Any such expenses may be deducted and
retained by the Pledgee from the proceeds of any disposition of the Collateral.

 

8.                                       Deficiency.  Notwithstanding that the Pledgee may take or
refrain from taking any right or remedy hereunder or hold the Collateral and
regardless of the value thereof, the Pledgor shall remain liable for the
payment in full of the Liabilities.

 

9.                                       Indemnity.  The Pledgor hereby agrees to indemnify the
Pledgee and the Secured Parties and each officer, director, employee and agent
thereof (herein individually each called an “Indemnitee” and
collectively called the “Indemnitees”) from and against any and all
losses, claims, damages, reasonable expenses (including, without limitation,
reasonable attorneys’ fees other than document preparation expenses of a
Secured Party) and liabilities (all of the foregoing being herein called the “Indemnified
Obligations”) incurred by any Indemnitee in connection with the Credit
Documents, except for any portion of such losses, claims, damages, expenses or
liabilities incurred solely as a result of the gross negligence or willful
misconduct of the applicable Indemnitee or for obligations of such Indemnitee
to the Pledgor, and except for any portion of which arises solely out of a
dispute between the Secured Parties over the terms or provisions of this Pledge
Agreement or the Intercreditor Agreement. 
If and to the extent that the foregoing indemnity may be unenforceable
for any reason, the Pledgor hereby agrees to make the maximum contribution to
the payment and satisfaction of each of the Indemnified Obligations which is
permissible under applicable law.  All
obligations provided for in this Section shall survive any termination of
the Credit Documents.

 

10.                                 Pledgee
Appointed Attorney-in-Fact.  The
Pledgor hereby grants to the Pledgee a power of attorney to execute on the
Pledgor’s behalf all assignments, licenses and transfers of the Collateral, and
to do all other acts which the Pledgor is obligated to execute or do under any
provision of this Agreement or any of the Credit Documents if the Pledgor has
not acted within three business days after request by the Pledgee.  This power of attorney is coupled with an
interest and is irrevocable.

 

11.                                 Notices.  Any notice hereunder to the Pledgor or the
Pledgee shall be in writing and shall be given to such party at its address set
forth below its name on the signature page.

 

12.                                 Binding
Agreement;  Assignment.  This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their successors and assigns,
except that the Pledgor shall not assign this Agreement.

 

5

 

13.                                 Miscellaneous.

 

(a)                                  No
Default shall be waived by the Pledgee except in writing and no waiver by the
Pledgee of any Default shall operate as a waiver of any other or of the same
Default at a future occasion.  No single
or partial exercise of any right, power or privilege hereunder or under
applicable law shall preclude any other or further exercise thereof or the
exercise of any other right, power or privilege.

 

(b)                                 The
Section headings used herein are for convenience of reference only and
shall not define or limit the provisions of this Agreement.

 

(c)                                  Any
modification or amendment of or waiver of rights under this Agreement shall be
binding only if contained in a writing signed by the parties hereto.

 

(d)                                 This
Agreement shall be governed by the internal laws (not the laws of conflict) of
the State of New York.

 

(e)                                  Each
provision of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this
Agreement shall be prohibited by or invalid under such law, such provision
shall be ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of
this Agreement.

 

14.                                 Amendment
and Replacement.  This Agreement is
a restatement of, and is a replacement of, the Prior Pledge Agreement, and
nothing contained herein shall be construed to release, cancel, terminate or
otherwise adversely affect all or any part of any lien, pledge, assignment,
security interest or other encumbrance heretofore granted pursuant to such
Prior Pledge Agreement which has not otherwise been expressly released.

 

 

[Signature Page follows]

 

6

 

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

 

 

	
   

  	
  FIRST COMMUNITY BANCORP

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  Attention:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE NORTHERN TRUST COMPANY, as

  Collateral Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Thomas E. Bernhardt

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
  Address:

  	
  50 South LaSalle Street

  
	
   

  	
   

  	
  Chicago, Illinois 
  60675

  
	
   

  	
  Attention:

  	
  Correspondent Services Division

  
					

 

7

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