Document:

thirdamdmt041108.htm

     

     

    
      

      

    

     

    THIRD
AMENDMENT TO LOAN AGREEMENT

     

    This
THIRD AMENDMENT TO LOAN AGREEMENT (“Amendment”) is dated as of April 11, 2008
but effective as of March 31,  2008, by and among Resource
Capital Corp., a Maryland corporation (“Borrower”), Commerce
Bank, N.A., a national banking association, in its capacity as agent
(“Agent”), Commerce
Bank, N.A., in its capacity as issuing bank (“Issuing Bank”), and each of
the financial institutions which are now or hereafter identified as Lenders on
Schedule A to the Loan Agreement (as defined below), (each such financial
institution individually, each being a “Lender,” and collectively, all being
“Lenders”).

    

     

    BACKGROUND

     

    A. Pursuant
to the terms of a certain Agreement dated December 15, 2005, by and among
Borrower, Agent, Issuing Bank and Lenders (as the same has been or may be
supplemented, restated, superseded, amended or replaced from time to time, the
“Loan Agreement”), Lenders made available to Borrower a revolving line of credit
not to exceed Twenty-Five Million Dollars ($25,000,000).  All
capitalized terms used herein without further definition shall have the
respective meaning set forth in the Loan Agreement.

     

    B. Borrower
has requested that Lenders make certain modifications to the Loan Agreement, and
Lenders have agreed to such request, in accordance with and subject to the
satisfaction of the conditions hereof.

     

    NOW,
THEREFORE, with the foregoing Background incorporated by reference, and
intending to be legally bound hereby, the parties agree as follows:

     

    1. Upon the
effectiveness of this Amendment, the Loan Agreement shall be amended as
follows:

     

    a. Section 1
of the Loan Agreement shall be amended by deleting the definitions of “ Consolidated Tangible Net
Worth” and “Maximum Revolving Credit
Amount,” and replacing each as follows:

     

    Consolidated Tangible Net
Worth - At any time, the amount by which all of Borrower’s consolidated
assets (less (i) trademarks, copyrights, goodwill, covenants not to compete, and
all other assets which would be classified as intangible assets under GAAP; and
(ii) assets owing from Affiliates, officers, directors, shareholders and
employees), exceed all of Borrower’s Consolidated Total Liabilities, all as
would be shown on Borrower’s consolidated balance sheet prepared in accordance
with GAAP.  Notwithstanding the foregoing, (i) in the event a
consolidated entity of Borrower has available for sale net losses in other
comprehensive income (as determined pursuant to Statement of Financial
Accounting Standards No. 115) exceeding the Maximum Exposure, the difference
between available for sale net losses and the Maximum Exposure shall be added
back in the calculation of Consolidated Tangible Net Worth; and (ii) neither
Borrower’s consolidated assets nor its Consolidated Total Liabilities shall
include any mark-to-market adjustments for derivatives in the form of interest
rate hedges.

     

    Maximum Revolving Credit
Amount – the sum of Ten Million Dollars ($10,000,000).

     

    b. Section
5.8c. is hereby amended and restated in its entirety and shall read as
follows:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    c. Consolidated Tangible Net
Worth.  Borrower shall maintain a Consolidated Tangible Net
Worth of not less than Two Hundred Fifty Million Dollars ($250,000,000),
measured as of each fiscal quarter end.

     

    2. Representations and
Warranties.  Borrower warrants and represents to Agent, Issuing
Bank, and Lenders that:

     

    a. Prior
Representations.  By execution of this Amendment, Borrower
reconfirms all warranties and representations under the Loan Agreement and the
other Loan Documents respectively and restates such warranties and
representations as of the date hereof (except to the extent expressly related to
a prior date), all of which shall be deemed continuing until all of the
Obligations due to Lenders are indefeasibly paid and satisfied in
full.

     

    b. Authorization.  The
execution and delivery by Borrower of this Amendment and the performance by
Borrower of the transactions herein contemplated (i) are and will be within its
powers, (ii) have been duly authorized by all necessary action on behalf of
Borrower and (iii) are not and will not be in contravention of any order of
court or other agency of government, of law or of any indenture, agreement or
undertaking to which Borrower is a party or by which the property of Borrower is
bound, or be in conflict with, result in a breach of or constitute (with due
notice and/or lapse of time) a default under any such indenture, agreement or
undertaking, or result in the imposition of any lien, charge or encumbrance
of  any nature on any of the properties of Borrower.

     

    c. Valid, Binding and
Enforceable.  This Amendment and any assignment or other
instrument, document or agreement executed and delivered in connection herewith,
will be valid, binding and enforceable in accordance with their respective
terms.

     

    d. No
Default.  No Default or Event of Default exists.

     

    3. Ratification of Loan
Documents.  This Amendment is hereby incorporated into and made
a part of the Loan Agreement, the terms and provisions of which, except to the
extent modified by this Amendment are ratified and confirmed, and continue
unchanged in full force and effect.  Any reference to the Loan
Agreement in this, or any other instrument, document, or agreement related
thereto, or executed in connection therewith, shall mean the Loan
Agreement  as amended by this Amendment.

     

    4. Confirmation of
Guarantor.  By its respective signatures below, each Guarantor
hereby consents to, and acknowledges the terms and conditions of this Amendment,
and agrees that its Surety and Guaranty Agreement is ratified and
confirmed,  shall continue in full force and effect and shall continue
to cover all Obligations of Borrower outstanding from time to time under the
Loan Agreement as amended hereby.

     

    5. Effectiveness
Conditions.  This Amendment shall become effective upon the
following:

     

    a. Execution
and delivery by Borrower of this Amendment;

     

    b. Payment
by Borrower of all of Expenses; and

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    c. Delivery
of authorizing resolutions on behalf of Borrower and Guarantors.

     

    6. GOVERNING
LAW.  THIS AMENDMENT, AND ALL RELATED AGREEMENTS AND DOCUMENTS,
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE LAWS OF
THE COMMONWEALTH OF PENNSYLVANIA.  THE PROVISIONS OF THIS AMENDMENT
AND ALL OTHER AGREEMENTS AND DOCUMENTS REFERRED TO HEREIN ARE TO BE DEEMED
SEVERABLE, AND THE INVALIDITY OR UNENFORCEABILITY OF ANY PROVISION SHALL NOT
AFFECT OR IMPAIR THE REMAINING PROVISIONS WHICH SHALL CONTINUE IN FULL FORCE AND
EFFECT.

     

    7. Modification.  No
modification hereof or any agreement referred to herein shall be binding or
enforceable unless in writing and signed by Borrower, Agent, Issuing Bank, and
Lenders.

     

    8. Duplicate
Originals:  Two or more duplicate originals of this Amendment
may be signed by the parties, each of which shall be an original but all of
which together shall constitute one and the same instrument.

     

    9. WAIVER OF JURY
TRIAL:  BORROWER, AGENT, ISSUING BANK, AND LENDERS EACH HEREBY
WAIVE ANY AND ALL RIGHTS IT MAY HAVE TO A JURY TRIAL IN CONNECTION WITH ANY
LITIGATION, PROCEEDING, OR COUNTERCLAIM ARISING WITH RESPECT TO RIGHTS AND
OBLIGATIONS OF THE PARTIES HERETO, OR UNDER THE LOAN DOCUMENTS, OR WITH RESPECT
TO ANY CLAIMS ARISING OUT OF ANY DISCUSSIONS, NEGOTIATIONS, OR COMMUNICATIONS
INVOLVING OR RELATED TO ANY PROPOSED RENEWAL, EXTENSION, AMENDMENT,
MODIFICATION, RESTRUCTURE, FORBEARANCE, WORKOUT, OR ENFORCEMENT OF THE
TRANSACTIONS CONTEMPLATED BY THE LOAN DOCUMENTS.

     

    IN
WITNESS WHEREOF, the undersigned parties have executed this Amendment the day
and year first above written.

     

    BORROWER:

    

    Resource Capital Corp.

    

    

    

    By:      _____________________________                                                                     

    Name:
_____________________________

    Title:  
_____________________________

    

    

    [Signatures
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          3

          
            

          

        

        
           

        

      

    

    

    AGENT AND ISSUING BANK:

    

    Commerce Bank, N.A.

    

    

    

    By:  _______________________________                                                                         

    Gerard L. Grady,  Senior
Vice President

    

    LENDER:

    

    Commerce Bank, N.A.

    

    

    

    By:  _______________________________                                                                         

    Gerard L. Grady, Senior Vice
President

    

    

    AGREED
TO AND
ACCEPTED                                     GUARANTORS:

    

    RCC Commercial, Inc.

    

    

    
      By:      _____________________________                                                                     

      Name:
_____________________________

      Title:  
_____________________________
:

     

    
 

    RCC Real Estate, Inc.

    

    

                                    By:      _____________________________                                                                     

    
      Name:
_____________________________

      Title:  
_____________________________

     

     

                                    Resource TRS,
Inc.

    

    

                                    By:      _____________________________                                                                     

    
      Name:
_____________________________

      Title:  
_____________________________

     

     

    4$2,400,000,000 

CREDIT AGREEMENT 

dated as of April 14,
2008 

among 

THE MANITOWOC COMPANY,
INC. 

The Subsidiary
Borrowers Party Hereto 

The Lenders Party Hereto 

and 

JPMORGAN CHASE BANK,
N.A., 
as Administrative Agent 

DEUTSCHE BANK AG NEW YORK
BRANCH 
and
MORGAN STANLEY
SENIOR FUNDING, INC., 
as Syndication Agents 

BNP PARIBAS 
as Documentation Agent 

J.P.            MORGAN
SECURITIES INC., 
DEUTSCHE BANK SECURITIES INC.,   
MORGAN STANLEY SENIOR FUNDING, INC.,

BNP PARIBAS SECURITIES CORP., 
Joint Lead Arrangers and Joint Bookrunners  

TABLE OF CONTENTS 

			Page
	
ARTICLE I	Definitions	  1
	        SECTION 1.01.	            Defined Terms	  1
	        SECTION 1.02.	            Classification of Loans and Borrowings	35
	        SECTION 1.03.	            Terms Generally	35
	        SECTION 1.04.	            Accounting Terms; GAAP	35
	        SECTION 1.05.	            Foreign Currency Calculations	35
	        SECTION 1.06.	            Redenomination of Certain Foreign Currencies	36
	
ARTICLE II	The Credits	37
	        SECTION 2.01.	            Commitments	37
	        SECTION 2.02.	            Loans and Borrowings	37
	        SECTION 2.03.	            Requests for Borrowings	38
	        SECTION 2.04.	            Alternate Currency Loans	39
	        SECTION 2.05.	            Swingline Loans	43
	        SECTION 2.06.	            Letters of Credit	44
	        SECTION 2.07.	            Funding of Borrowings	48
	        SECTION 2.08.	            Interest Elections	49
	        SECTION 2.09.	            Termination and Reduction of Commitments; Increase of Commitments	50
	        SECTION 2.10.	            Repayment of Loans; Evidence of Debt	52
	        SECTION 2.11.	            Amortization of Term Loans	53
	        SECTION 2.12.	            Prepayment of Loans	54
	        SECTION 2.13.	            Fees	56
	        SECTION 2.14.	            Interest	58
	        SECTION 2.15.	            Alternate Rate of Interest	59
	        SECTION 2.16.	            Increased Costs	59
	        SECTION 2.17.	            Break Funding Payments	60
	        SECTION 2.18.	            Taxes	61
	        SECTION 2.19.	            Payments Generally; Pro Rata Treatment; Sharing of Set-offs	65
	        SECTION 2.20.	            Mitigation Obligations; Replacement of Lenders	67
	        SECTION 2.21.	            Subsidiary Borrowers	68
	        SECTION 2.22.	            Additional Reserve Costs	69
	
ARTICLE III	Representations and Warranties	69
	        SECTION 3.01.	            Organization; Powers	69
	        SECTION 3.02.	            Authorization; Enforceability	70
	        SECTION 3.03.	            Governmental Approvals; No Conflicts	70
	        SECTION 3.04.	            Financial Condition; No Material Adverse Change	70
	        SECTION 3.05.	            Properties	70
	        SECTION 3.06.	            Litigation and Environmental Matters	71
	        SECTION 3.07.	            Compliance with Laws and Agreements	71
	        SECTION 3.08.	            Investment Company Status	71
	        SECTION 3.09.	            Taxes	71
	        SECTION 3.10.	            ERISA; Foreign Pension Plans	72

i 

			
	        SECTION 3.11.	            Disclosure	72
	        SECTION 3.12.	            The Security Documents	73
	        SECTION 3.13.	            Subsidiaries	73
	        SECTION 3.14.	            Indebtedness	74
	        SECTION 3.15.	            Insurance	74
	        SECTION 3.16.	            Regulation U	74
	        SECTION 3.17.	            Solvency	74
	
ARTICLE IV	Conditions	74
	        SECTION 4.01.	            Effective Date	74
	        SECTION 4.02.	            Initial Funding	76
	        SECTION 4.03.	            Each Credit Event	78
	        SECTION 4.04.	            Conditions during Certain Funds Period	78
	
ARTICLE V	Affirmative Covenants	79
	        SECTION 5.01.	            Financial Statements and Other Information	79
	        SECTION 5.02.	            Notices of Material Events	81
	        SECTION 5.03.	            Existence; Conduct of Business	82
	        SECTION 5.04.	            Payment of Obligations	82
	        SECTION 5.05.	            Maintenance of Properties; Insurance	82
	        SECTION 5.06.	            Books and Records; Inspection Rights	82
	        SECTION 5.07.	            Compliance with Laws and Material Contractual Obligations	82
	        SECTION 5.08.	            Use of Proceeds and Letters of Credit	83
	        SECTION 5.09.	            Compliance with Environmental Laws	83
	        SECTION 5.10.	            Further Assurances; etc	84
	        SECTION 5.11.	            Ownership of Subsidiaries; etc	86
	        SECTION 5.12.	            Margin Regulations	86
	        SECTION 5.13.	            Additional Guarantors and Collateral	86
	        SECTION 5.14.	            The Scheme	88
	        SECTION 5.15.	            The Offer	89
	        SECTION 5.16.	            Rate Hedging Obligations	92
	        SECTION 5.17.	            Rated Credit Facilities	92
	        SECTION 5.18.	            Pensions	92
	
ARTICLE VI	Negative Covenants	92
	        SECTION 6.01.	            Indebtedness	92
	        SECTION 6.02.	            Liens	95
	        SECTION 6.03.	            Merger, Purchase or Sale of Assets, Change in Business	98
	        SECTION 6.04.	            Restricted Payments	100  
	        SECTION 6.05.	            Advances, Investments and Loans	101  
	        SECTION 6.06.	            Transactions with Affiliates	104  
	        SECTION 6.07.	            Minimum Consolidated Interest Coverage Ratio	104  
	        SECTION 6.08.	            Maximum Consolidated Total Leverage Ratio	105  
	        SECTION 6.09.	            Limitations on Prepayments of Certain Indebtedness; Modifications of
	        	            Certain Indebtedness; Modifications of Certificate of Incorporation,
	        	            By-Laws and Certain Other Agreements, etc	105  

ii 

			
	        SECTION 6.10.	            Restrictive Agreements	106
	        SECTION 6.11.	            End of Fiscal Years; Fiscal Quarters	106
	        SECTION 6.12.	            Limitation on Issuance of Capital Stock	106
	        SECTION 6.13.	            Limitation on Creation of Subsidiaries	107
	        SECTION 6.14.	            Rental Fleet	107
	        SECTION 6.15.	            Sale-Leaseback Restriction	107
	        SECTION 6.16.	            Buy-Back Limitation	107
	        SECTION 6.17.	            Swap Agreements	108
	        SECTION 6.18.	            BPGR	108
	        SECTION 6.19.	            Manitowoc Asia Holdings	108
	
ARTICLE VII	Events of Default	108
	
ARTICLE VIII	The Administrative Agent	111
	        SECTION 8.01.	            The Administrative Agent	111
	        SECTION 8.02.	            Administrative Agent as UK Security Trustee	114
	
ARTICLE IX	Miscellaneous	115
	        SECTION 9.01.	            Notices	115
	        SECTION 9.02.	            Waivers; Amendments	116
	        SECTION 9.03.	            Expenses; Indemnity; Damage Waiver	117
	        SECTION 9.04.	            Successors and Assigns	119
	        SECTION 9.05.	            Survival	122
	        SECTION 9.06.	            Counterparts; Integration; Effectiveness	122
	        SECTION 9.07.	            Severability	123
	        SECTION 9.08.	            Right of Set-off	123
	        SECTION 9.09.	            Governing Law; Jurisdiction; Consent to Service of Process	123
	        SECTION 9.10.	            WAIVER OF JURY TRIAL	124
	        SECTION 9.11.	            Headings	124
	        SECTION 9.12.	            Confidentiality	124
	        SECTION 9.13.	            Interest Rate Limitation	125
	        SECTION 9.14.	            USA PATRIOT Act	125
	        SECTION 9.15.	            Conversion of Currencies	125
	        SECTION 9.16.	            Syndication Agent and Documentation Agents	126
	
ARTICLE X	Collection Action Mechanism	126
	        SECTION 10.01.	            Implementation of CAM	126
	        SECTION 10.02.	            Letters of Credit	127

iii 

SCHEDULES: 

	Schedule 1.01	Pricing Schedule
	Schedule 1.02	Existing Intercompany Notes
	Schedule 1.04	Funding Transactions
	Schedule 2.01	Commitments
	Schedule 2.04	Alternate Currency Lenders
	Schedule 2.22	Mandatory Cost Rate
	Schedule 3.01	Good Standing
	Schedule 3.05	Real Property
	Schedule 3.10	ERISA
	Schedule 3.13	Subsidiaries
	Schedule 3.15	Insurance
	Schedule 4.01	Credit Documents to be Delivered on Effective Date
	Schedule 4.02	Real Property
	Schedule 6.01	Existing Indebtedness
	Schedule 6.02	Existing Liens
	Schedule 6.05	Existing Investments
	Schedule 6.10	Existing Restrictions

EXHIBITS: 

	Exhibit A	Form of Assignment and Assumption
	Exhibit B	Form of Designation Letter
	Exhibit C	Form of Intercompany Note
	Exhibit D	Form of Termination Letter
	Exhibit E	Form of Mortgage
	Exhibit F	Form of Leasehold Mortgage
	Exhibit G	Form of Real Estate Counsel Opinion

iv 

        CREDIT
 AGREEMENT  dated as of April 14, 2008,  among THE MANITOWOC  COMPANY,  INC., the
Subsidiary  Borrowers  party hereto, the LENDERS party hereto, and JPMORGAN CHASE BANK,
N.A., as Administrative Agent. 

        The
parties hereto agree as follows: 

ARTICLE I  

Definitions 

        SECTION
1.01.    Defined Terms.  As used in this Agreement, the
following terms have the meanings specified below: 

        “2006
Companies Act” means the Companies Act 2006 of England and Wales. 

        “ABR”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are bearing interest at a rate determined by reference to the
Alternate Base Rate. 

        “Acquired
Entity or Business” means either (a) the assets constituting a business, division
or product line of any Person not already a Subsidiary of the Borrower or (b) 100% of
the capital stock of any such Person, which Person shall, as a result of such stock
acquisition, become a Wholly-Owned Subsidiary of the Borrower (or shall be merged with and
into the Borrower or a Subsidiary Guarantor, with the Borrower or such Subsidiary
Guarantor being the surviving Person). 

        “Acquisition”
means the proposed acquisition by Newco of, as applicable, (a) 100% of the Target Shares
pursuant to the Scheme or (b) up to 100% of the Target Shares pursuant to an Offer. 

        “Acquisition
Documents” means (a) a copy of the Press Release, (b) in the case of an Offer,
the Offer Document and a copy of any revised Offer Document or supplementary circular sent
by or on behalf of Newco to shareholders in the Target, if applicable, and (c) in the case
of a Scheme a copy of the Scheme Document, the Implementation Agreement and a copy of the
certificate of registration issued by the registrar of companies evidencing registration
of the order and minutes (approved by the court) and giving effect to the reduction in the
Target’s share capital under Section 138 of the Companies Act. 

        “Acquisition
Parties” means Newco and the Borrower. 

        “Additional
Security Documents” means security documents executed by a Credit Party pursuant
to Section 2.21(a), Section 5.10 or Section 5.13. 

        “Adjusted
LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest
Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%)
equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory
Reserve Rate; provided that, with respect to any Eurocurrency Borrowing denominated
in a Foreign Currency, the Adjusted LIBO Rate shall mean the LIBO Rate. 

        “Administrative
Agent” means, collectively, JPMorgan, in its capacity as administrative agent for
the Lenders hereunder, and, solely relative to such Loans, J. P. Morgan Europe Limited, in
its capacity as administrative agent with respect to Loans denominated in a Foreign
Currency. 

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

        “Advance”
means any Loan or any Letter of Credit. 

        “Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly
through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified. A Person shall be deemed to control another Person if
such Person possesses, directly or indirectly, the power (a) to vote 10% or more of the
securities having ordinary voting power for the election of directors (or equivalent
governing body) of such Person or (b) to direct or cause the direction of the management
and policies of such other Person, whether through the ownership of voting securities, by
contract or otherwise; provided, however, that neither the Administrative
Agent nor any Lender (nor any Affiliate thereof) shall be considered an Affiliate of the
Borrower or any Subsidiary thereof. 

        “Agreement”
means this Credit Agreement as the same may be amended, restated, amended and restated,
modified or supplemented from time to time. 

        “Agreement
Currency” shall have the meaning assigned to such term in Section 9.15(b). 

        “Alternate Base
Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime
Rate in effect on such day, (b) the Base CD Rate in effect on such day plus 1% and (c) the
Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1%. Any change in the
Alternate Base Rate due to a change in the Prime Rate, the Base CD Rate or the Federal
Funds Effective Rate shall be effective from and including the effective date of such
change in the Prime Rate, the Base CD Rate or the Federal Funds Effective Rate,
respectively. 

        “Alternate
Currency Exposure” means at any time, the aggregate principal amount of all
Alternate Currency Loans outstanding at such time. The Alternate Currency Exposure of any
Lender at any time shall be its Applicable Revolver Percentage of the total Alternate
Currency Exposure at such time. 

        “Alternate
Currency Fronting Lender” means JPMorgan.  

        “Alternate
Currency Lenders” means (a) the Alternate Currency Fronting Lender and (b) solely
with respect to Alternate Currency Loans as to which any other Lender is deemed to be an
Alternate Currency Lender pursuant to Section 2.04(l), each such other Lender. 

        “Alternate
Currency Loan” means a loan made pursuant to Section 2.04. 

2 

        “Announcement
Date” means the date of the Press Release. 

        “Applicable
Borrower” means, with respect to any Loan or other amount owing hereunder or any
matter pertaining to such Loan or other amount, whichever of the Borrowers is the primary
obligor on such Loan or other amount and, with respect to any Letter of Credit, whichever
of the Borrowers is the account party with respect thereto. 

        “Applicable
Creditor” shall have the meaning assigned to such term in Section 9.15(b). 

        “Applicable Lending
Installation” is defined in Section 2.02(e). 

        “Applicable
Participation Percentage” means, as to any Participating Lender with respect to
any Alternate Currency Loan made by the Alternate Currency Fronting Lender, the percentage
determined by dividing such Participating Lender’s Revolving Commitment by the sum of
the Revolving Commitments of the Alternate Currency Fronting Lender and each Lender which
is a Participating Lender relative to such Loan. 

        “Applicable
Prepayment Percentage” means (a) in the case of a Prepayment Event described in
clause (c) of the definition of the term “Prepayment Event” (but only with
respect to the Term A Loan) or a prepayment required by Section 2.12(d), a percentage
equal to (i) 50% at any time when the Consolidated Total Leverage Ratio is greater than or
equal to 3.0:1.0, and (ii) 0% at any other time, and (b) in the case of any other
Prepayment Event, 100%. 

        “Applicable
Rate” means, for any day, with respect to any ABR Loan or Eurocurrency Loan, or
with respect to the commitment fees payable hereunder, as the case may be, the applicable
rate per annum set forth in Schedule 1.01 under the caption “ABR Spread”,
“Eurocurrency Spread” or “Commitment Fee Rate”, as the case may be,
based upon the Consolidated Total Leverage Ratio. 

        “Applicable
Revolver Percentage” means, with respect to any Lender, the percentage of the
total Revolving Commitments represented by such Lender’s Revolving Commitment. If the
Revolving Commitments have terminated or expired, the Applicable Revolver Percentages
shall be determined based upon the Revolving Credit Exposure of the Lenders. 

        “Applicable
Term A Percentage” means, with respect to any Lender, the percentage of the total
Term A Loans and unused Term A Commitments held by such Lender. 

        “Applicable
Term X Percentage” means, with respect to any Lender, the percentage of the total
Term X Loans and unused Term X Commitments held by such Lender. 

        “Applicable
Term Y Percentage” means, with respect to any Lender, the percentage of the total
Term Y Loans and unused Term Y Commitments held by such Lender. 

        “Approved
Fund” has the meaning assigned to such term in Section 9.04(b). 

3 

        “Arrangers”  means
J.P. Morgan Securities Inc.,  Deutsche Bank Securities Inc.,  Morgan Stanley Senior
Funding,  Inc. and BNP Paribas Securities Corp. in their capacity as joint lead arrangers
of this credit facility. 

        “Assessment
Rate” means, for any day, the annual assessment rate in effect on such day that
is payable by a member of the Bank Insurance Fund classified as “well
capitalized” and within supervisory subgroup “B” (or a comparable successor
risk classification) within the meaning of 12 C.F.R. Part 327 (or any successor provision)
to the Federal Deposit Insurance Corporation for insurance by such Corporation of time
deposits made in Dollars at the offices of such member in the United States;
provided that if, as a result of any change in any law, rule or regulation, it is
no longer possible to determine the Assessment Rate as aforesaid, then the Assessment Rate
shall be such annual rate as shall be determined by the Administrative Agent to be
representative of the cost of such insurance to the Lenders. 

        “Assignment
and Assumption” means an assignment and assumption entered into by a Lender and
an assignee (with the consent of any party whose consent is required by Section 9.04), and
accepted by the Administrative Agent, in the form of Exhibit A or any other form approved
by the Administrative Agent. 

        “Availability
Period” means (a) with respect to Revolving Loans, the period from and including
the Initial Borrowing Date to but excluding the earlier of the Revolving Maturity Date and
the date of termination of the Revolving Commitments and (b) with respect to any Term
Loans, the period from and including the Initial Borrowing Date to and including the date
of termination of the applicable Term Commitments. 

        “Base
CD Rate” means the sum of (a) the Three Month Secondary CD Rate multiplied by the
Statutory Reserve Rate plus (b) the Assessment Rate. 

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

        “Borrower”
means The Manitowoc Company, Inc., a Wisconsin corporation. 

        “Borrowers”
means the Borrower and each Subsidiary Borrower. 

        “Borrowing” means
(a) Revolving Loans of the same Type, made, converted or continued on the same date to the
same Applicable Borrower and, in the case of Eurocurrency Loans, as to which a single
Interest Period is in effect, (b) Term A Loans of the same Type, made, converted or
continued on the same date and, in the case of Eurocurrency Loans, as to which a single
Interest Period is in effect, (c) Term Y Loans of the same Type, made, converted or
continued on the same date to the same Applicable Borrower and, in the case of
Eurocurrency Loans, as to which a single Interest Period is in effect, (d) Term X Loans of
the same Type, made, converted or continued on the same date to the same Applicable
Borrower and, in the case of Eurocurrency Loans, as to which a single Interest Period is
in effect, (e) a Swingline Loan, or (f) Alternate Currency Loans made or continued on the
same date to the same Applicable Borrower in the same Foreign Currency as to which a
single Interest Period is in effect. 

4 

        “Borrowing
Request” means a request by the Borrower for a Borrowing in accordance with
Section 2.03. 

        “BPGR”
means Manitowoc EMEA Holding Sarl (formerly known as BPGR Sarl), a French
société à responsabilité limitée and Wholly-Owned
Subsidiary of the Borrower. 

        “Business
Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed;
provided that, when used in connection with a Eurocurrency Loan, the term
“Business Day” shall also exclude (a) if such Eurocurrency Loan is
denominated in Dollars, any day on which banks are not open for dealings in Dollar
deposits in the London interbank market, (b) if such Eurocurrency Loan is denominated in
Euros, which is not a Target Day and (c) if such Eurocurrency Loan is denominated in a
Foreign Currency other than Euros, any day on which commercial banks and the London
foreign exchange market do not settle payments in the principal financial center where
such Foreign Currency is cleared and settled as reasonably determined by the
Administrative Agent. 

        “Buy-Back
Arrangements” means arrangements whereby the Borrower or a Subsidiary of the
Borrower in the ordinary course of business enters into an agreement with a customer or
third party financing company (a) to guarantee to repurchase crane products at a later
date at an agreed upon price or (b) to guarantee a minimum crane product residual value at
the end of an underlying finance term for same including, without limitation, guarantees
of minimum crane product residual value in connection with Sale-Leaseback Transactions. 

        “Buy-Back
Obligations” means repurchase or guarantee obligations of the Borrower or its
Subsidiaries arising out of Buy-Back Arrangements. Guarantees by the Borrower or its
Subsidiaries of customer payment obligations shall not constitute Buy-Back Obligations. 

        “CAM”
means the mechanism for the allocation and exchange of interests in the Loans and
collections thereunder established under Article X. 

        “CAM
Exchange” means the exchange of the Lenders’ interests provided for in
Section 10.1. 

        “CAM
Exchange Date” means the first date after the Initial Borrowing Date on which
there shall occur any event described in paragraph (h) or (i) of Article VII with respect
to any of the Borrowers. 

        “CAM
Percentage” means, as to each Lender, a fraction, of which (a) the numerator
shall be the sum of (i) the aggregate Designated Obligations owed to such Lender and (ii)
such Lender’s Applicable Revolver Percentage of the aggregate outstanding LC
Exposure, if any, of such Lender, in each case immediately prior to the CAM Exchange Date,
and (b) the denominator shall be the sum of (i) the aggregate Designated Obligations owed
to all the Lenders and (ii) the aggregate outstanding LC Exposure, in each case
immediately prior to such CAM Exchange Date. For purposes of computing each Lender’s
CAM Percentage, (a) all Designated Obligations which shall be denominated in a Foreign
Currency shall be translated into Dollars at the Exchange Rate in effect on the CAM
Exchange Date and (b) each Lender shall be deemed to hold its Applicable Revolver
Percentage of all outstanding Swingline Loans and Alternate Currency Loans. 

5 

        “Canadian
Dollar” means the lawful currency of Canada. 

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

        “Cash
Equivalents” means:  

        (a)                 direct
obligations of, or obligations the principal of and interest on which are
          unconditionally guaranteed by, the United States (or by any agency thereof to
          the extent such obligations are backed by the full faith and credit of the
          United States), in each case maturing within one year from the date of
          acquisition thereof;  

        (b)                 investments
in commercial paper maturing within 270 days from the date of           acquisition
thereof and having, at such date of acquisition, the highest credit           rating
obtainable from S&P or from Moody’s;  

        (c)                 investments
in certificates of deposit, bankers’ acceptances and time           deposits
maturing within 180 days from the date of acquisition thereof issued or
          guaranteed by or placed with, and money market deposit accounts issued or
          offered by, any domestic office of any commercial bank organized under the laws
          of the United States or any State thereof which has a combined capital and
          surplus and undivided profits of not less than $500,000,000;  

        (d)                 fully
collateralized repurchase agreements with a term of not more than 30 days           for
securities described in clause (a) above and entered into with a financial
          institution satisfying the criteria described in clause (c) above; and  

        (e)                 money
market funds that comply with the criteria set forth in Securities and           Exchange
Commission Rule 2a-7 under the Investment Company Act of 1940 and are           rated AAA
by S&P and Aaa by Moody’s.  

        “Certain
Funds Loan” means a Loan the proceeds of which are designated by the Borrower to
be used for, and are exclusively used for, funding the acquisition by Newco of Target
Shares (including any options held in such Target Shares) pursuant to the Acquisition
(including by using the procedure under Section 979 of the 2006 Companies Act) or
refinancing Target Debt or existing Indebtedness under the Existing Credit Agreement. 

        “Certain
Funds Period” means the period from the Announcement Date until: 

        (a)
       in the case of the Scheme, the earliest of:  

	 	        (i)
       the date falling 35 days after the Scheme
Effective Date;  

6 

	 	        (ii)
       the date of the lapse or withdrawal of the
Scheme or the rejection of it or the                reduction of capital by the court;  

	 	        (iii)
       November 10, 2008; and  

        (b)
       in the case of the Offer, the earliest of:  

	 	        (i)
       the date of the lapse or withdrawal of the
Offer;  

	 	        (ii)
       the date falling 4 months and 35 days after the
Posting Date if at the end of                the period ending on the date falling 4
months after the Posting Date Newco is                not entitled to apply the
provisions of Section 979 of the 2006 Companies Act in                relation to the
Target Shares;  

	 	        (iii)
       if on or before the date falling 4 months after
the Posting Date Newco is                entitled to apply the provisions of Section 979
of the 2006 Companies Act in                relation to the Target Shares, the date
falling 60 days after such entitlement                first arose;  

	 	        (iv)
       35 days after the date the Offer is declared
wholly unconditional; and  

	 	        (v)
       November 10, 2008.  

        “Change
in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities
Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as
in effect on the date hereof) of Interests representing more than 30% of the aggregate
ordinary voting power represented by the issued and outstanding Equity Interests of the
Borrower, (b) occupation of a majority of the seats (other than vacant seats) on the board
of directors of the Borrower by Persons who were neither (i) nominated by the board of
directors of the Borrower nor (ii) appointed by directors so nominated, (c) the
acquisition of direct or indirect Control of the Borrower by any Person or group, (d) a
“Change of Control” as defined in the Senior Note Documents, (e) the Borrower
ceasing to own directly or indirectly 100% of the outstanding Equity Interests in Newco or
(f) after the Unconditional Date, Newco ceasing to own directly 100% of the Equity
Interests in Target or (solely in the case of the Offer) (i) Newco ceasing to own directly
at least the number of shares of the Target owned as of the Unconditional Date, or (ii)
(after the date falling 42 days after the date on which Newco was entitled to apply the
provisions of Section 979 of the 2006 Companies Act) Newco ceasing to own directly 100% of
the outstanding Equity Interests of the Target. 

        “Change
in Law” means (a) the adoption of any law, rule or regulation after the date of
this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.16(b), by any
lending office of such Lender or by such Lender’s or the Issuing Bank’s holding
company, if any) with any request, guideline or directive (whether or not having the force
of law) of any Governmental Authority made or issued after the date of this Agreement. 

7 

        “Class”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are Revolving Loans, Term A Loans, Term Y Loans, Term X Loans,
Alternate Currency Loans or Swingline Loans. 

        “Clean-up
Date” shall have the meaning assigned to such term in Article VII. 

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

        “Collateral”
means all property with respect to which any security interests have been granted (or
purported to be granted) pursuant to any Security Document, including, without limitation,
all US Pledge Agreement Collateral, all Security Agreement Collateral and all cash and
Cash Equivalents delivered as collateral pursuant to Section 2.06(j). 

        “Collateral
Agent” means the Administrative Agent acting as collateral agent for the Secured
Creditors pursuant to the Security Documents, including as collateral agent under the US
Security Agreement, the US Pledge Agreement and the French Pledge Agreements, as UK
Security Trustee under the UK Security Agreement and in a similar capacity under other
Security Documents. 

        “Commitment”
means either a Revolving Commitment or a Term Commitment. 

        “Companies
Act” means the Companies Act 1985 of England and Wales. 

        “Consolidated
Capital Expenditures” means, for any Person, for any period, the aggregate of all
expenditures (whether paid in cash or accrued as liabilities and including in all events
all Capital Lease Obligations but excluding any capitalized interest with respect thereto)
by such Person and its subsidiaries during that period that, in conformity with GAAP, are
or are required to be included in the property, plant or equipment reflected in the
consolidated balance sheet of such Person. 

        “Consolidated
Current Assets” means, with respect to any Person as at any date of
determination, the total assets of such Person and its consolidated subsidiaries which
should properly be classified as current assets on a consolidated balance sheet of such
Person and its consolidated subsidiaries in accordance with GAAP. 

        “Consolidated
Current Liabilities” means, with respect to any Person as at any date of
determination, the total liabilities of such Person and its consolidated subsidiaries
which should properly be classified as current liabilities (other than the current portion
of any Loans) on a consolidated balance sheet of such Person and its consolidated
subsidiaries in accordance with GAAP. 

        “Consolidated
EBIT” means, for any period, Consolidated Net Income from continuing operations
for such period before deducting therefrom Consolidated Interest Expense for such period
(to the extent deducted in arriving at Consolidated Net Income for such period) and
provision for taxes based on income (including foreign withholding taxes imposed on
interest or dividend payments and state single business, unitary or similar taxes imposed
on net income) that were included in arriving at Consolidated Net Income for such period
and without giving effect, without duplication, to (a) any extraordinary gains,
extraordinary losses or other extraordinary non-cash charges or benefits, (b) any charges
arising out of prepayments of the Senior Notes, (c) any gains or losses from sales of
assets other than from sales of inventory in the ordinary course of business, (d) fees,
expenses and charges incurred or recorded (i) prior to December 31, 2008 in connection
with the Acquisition, the Transactions or Divestiture Transactions up to an aggregate
amount of $25,000,000 or (e) fees, expenses and charges incurred or recorded after
December 31, 2008 and prior to December 31, 2009 in connection with Divestiture
Transactions. 

8 

        “Consolidated
EBITDA” means, for any period, Consolidated EBIT for such period, adjusted by
adding thereto the amount of all amortization and depreciation that was deducted in
arriving at Consolidated Net Income for such period; it being understood that in
determining the Consolidated Senior Leverage Ratio and the Consolidated Total Leverage
Ratio only, Consolidated EBITDA for any period shall be calculated on a Pro
Forma Basis to give effect to (i) any Acquired Entity or Business acquired during
such period pursuant to a Permitted Acquisition and not subsequently sold or otherwise
disposed of by the Borrower or any of its Subsidiaries during such period and (ii) any
Subsidiary or business disposed of during such period by the Borrower or any of its
Subsidiaries. 

        “Consolidated
Indebtedness” means, at any time, an amount equal to (a) the sum of (without
duplication) (i) the aggregate stated balance sheet amount of all Indebtedness of the
Borrower and its Subsidiaries as would be required to be reflected on the liability side
of a balance sheet of such Person at such time in accordance with GAAP as determined on a
consolidated basis, (ii) all Indebtedness of the Borrower and its Subsidiaries of the type
described in clauses (b) and (g) of the definition of Indebtedness contained herein, (iii)
the aggregate amount of all Receivables Indebtedness of the Borrower and its Subsidiaries
or any SPC outstanding at such time and (iv) all Guarantees by the Borrower and its
Subsidiaries in respect of Indebtedness of any third Person of the type referred to in
preceding clauses (i), (ii) and (iii) of this definition (including, without limitation,
all Indebtedness of the Borrower and its Subsidiaries described in Section 6.01(m)),
minus (b) the Offsetting Cash Amount; provided that in making any
determination of “Consolidated Indebtedness” pursuant to this definition, there
shall be excluded therefrom any Indebtedness of the type described in clause (b) of the
definition of Indebtedness contained herein, in each case to the extent (and only to the
extent) that such Indebtedness (x) is evidenced by letters of credit issued to support
performance bonds of the Borrower or its Subsidiaries (but exclusive of unpaid drawings
thereunder) and (y) would otherwise be included in the determination of Consolidated
Indebtedness. Buy-Back Obligations of the Borrower and its Subsidiaries shall not
constitute Consolidated Indebtedness. 

        “Consolidated
Interest Coverage Ratio” means, as of the end of any fiscal quarter of the
Borrower, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in
each case for the period of four fiscal quarters of the Borrower then ended. 

        “Consolidated
Interest Expense” means, for any period, the total consolidated interest expense
of the Borrower and its Subsidiaries for such period (calculated without regard to any
limitations on the payment thereof, but net of any interest income of the Borrower and its
Subsidiaries for such period) plus, without duplication, that portion of Capital Lease
Obligations of the Borrower and its Subsidiaries representing the interest factor for such
period; provided that “Consolidated Interest Expense” shall be deemed to
include any discount and/or interest component in respect of any sale of accounts
receivable or related rights by the Borrower or a Subsidiary regardless of whether such
discount or interest would constitute interest under GAAP, in each case, on a consolidated
basis. 

9 

        “Consolidated
Net Income” means, for any period, the net income (or loss) from continuing
operations of the Borrower and its Subsidiaries for such period, determined on a
consolidated basis (after any deduction for minority interests), provided that in
determining Consolidated Net Income, (a) the net income of any other Person which is not a
Subsidiary of the Borrower or is accounted for by the Borrower by the equity method of
accounting shall be included only to the extent of the payment of cash dividends or cash
distributions by such other Person to the Borrower or a Subsidiary thereof during such
period, (b) the net income of any Subsidiary of the Borrower shall be excluded to the
extent that the declaration or payment of cash dividends or similar cash distributions by
that Subsidiary of that net income is not at the date of determination permitted by
operation of its charter or any agreement, instrument or law applicable to such Subsidiary
and (c) for any period, any interest income of the Borrower and its Subsidiaries for
such period shall be excluded. 

        “Consolidated
Senior Indebtedness” means, at any time, the amount of all Consolidated
Indebtedness at such time, less the aggregate principal amount of all such Indebtedness
outstanding at such time which is subordinated to the Obligations on customary market
subordination terms reasonably satisfactory to the Administrative Agent. 

        “Consolidated
Senior Leverage Ratio” means, at any time, the ratio of (a) Consolidated
Senior Indebtedness at such time to (b) Consolidated EBITDA for the four fiscal quarters
of the Borrower then most recently ended. 

        “Consolidated
Tangible Net Assets” means, at any time, the amount, without duplication, of the
net book value of the consolidated assets of the Borrower and its Subsidiaries excluding
the net book value of all such assets which would be treated as intangibles under GAAP,
including without limitation deferred charges, leasehold conversion costs,
franchise rights, non-compete agreements, research and development costs, goodwill,
unamortized debt discounts, patents, patent applications, trademarks, trade names,
copyrights and licenses. 

        “Consolidated
Total Leverage Ratio” means, at any time, the ratio of (a) Consolidated
Indebtedness at such time to (b) Consolidated EBITDA for the four fiscal quarters of the
Borrower then most recently ended. 

        “Control”
means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and
“Controlled” have meanings correlative thereto. 

        “Contribution
Notice” means a contribution notice issued by the Pensions Regulator under
Section 38 or Section 47 of the Pensions Act 2004 of England and Wales. 

        “Credit
Documents” means this Agreement and, after the execution and delivery thereof
pursuant to the terms of this Agreement, each promissory note, the Subsidiary Guaranty,
the Parent Guaranty and each Security Document. 

10 

        “Credit
Party” means the Borrower, each Subsidiary Guarantor and each Subsidiary
Borrower. 

        “Customer
Financing” means third party financing provided to customers of the Borrower or
any of its Subsidiaries to finance such customers’ purchase of equipment and related
products and services from the Borrower or a Subsidiary thereof. 

        “Default”
means any event or condition which constitutes an Event of Default or which upon notice,
lapse of time or both would, unless cured or waived, become an Event of Default. 

        “Designated
Obligations” means all Obligations of the Credit Parties in respect of accrued
and unpaid (a) principal of and interest on the Loans and (b) fees pursuant to Section
2.13, whether or not the same shall at the time of any determination be due and payable
under the terms of the Credit Documents. 

        “Designation
Letter” means a letter in substantially the form of Exhibit B hereto. 

        “Divestiture Transactions”
means divestitures of assets required by applicable law or Governmental Authorities as a
condition of, or in connection with, the Acquisition. 

        “Dollars”
or “$” means the lawful currency of the United States. 

        “Dollar
Equivalent” means, on any date of determination (a) with respect to any amount in
Dollars, such amount, and (b) with respect to any amount in any Foreign Currency, the
equivalent in Dollars of such amount, determined by the Administrative Agent pursuant to
Section 1.05 using the Exchange Rate with respect to such Foreign Currency at the time in
effect under the provisions of such Section. 

        “Domestic
Credit Party” means a Credit Party which is not a Foreign Subsidiary. 

        “Domestic Subsidiary”
means, as to any Person, each subsidiary of such Person that is incorporated under the
laws of the United States, any State thereof or the District of Columbia. 

        “EC
Merger Regulation” means the Council Regulation (EC) 139/2004 (as amended). 

        “Effective
Date” means the date on which the conditions specified in Section 4.01 are
satisfied (or waived in accordance with Section 9.02). 

        “EMU
Legislation” means the legislative measures of the European Union for the
introduction of, changeover to or operation of the Euro in one or more member states of
the European Union. 

        “Environmental
Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees,
judgments, injunctions, notices or binding agreements issued, promulgated or entered into
by any Governmental Authority, relating in any way to the environment, preservation or
reclamation of natural resources, the management, release or threatened release of any
Hazardous Material or to health and safety matters. 

11 

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

        “Equity
Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity
ownership interests in a Person, and any warrants, options or other rights entitling the
holder thereof to purchase or acquire any such equity interest. 

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

        “ERISA
Affiliate” means any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414(b) or (c) of
the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is
treated as a single employer under Section 414 of the Code. 

        “ERISA
Event” means (a) any “reportable event”, as defined in Section 4043 of
ERISA or the regulations issued thereunder with respect to a Plan (other than an event for
which the 30 day notice period is waived), (b) the existence with respect to any Plan of
an “accumulated funding deficiency” (as defined in Section 412 of the Code or
Section 302 of ERISA), whether or not waived, (c) the filing pursuant to Section 412(d) of
the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding
standard with respect to any Plan, (d) the incurrence by the Borrower or any of its ERISA
Affiliates of any liability under Title IV of ERISA with respect to the termination of any
Plan, (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan
administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan, (f) the incurrence by the Borrower or any of its
ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal
from any Plan or Multiemployer Plan or (g) the receipt by the Borrower or any ERISA
Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any
ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a
determination that a Multiemployer Plan is, or is expected to be, insolvent or in
reorganization, within the meaning of Title IV of ERISA. 

        “Euro”
or “€” means the single lawful currency of the European Union as
constituted by the treaty establishing the European Community being the Treaty of Rome, as
amended from time to time and as referred to in the EMU Legislation. 

12 

        “Eurocurrency”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are bearing interest at a rate determined by reference to the
Adjusted LIBO Rate. 

        “European
Commission” means the institution responsible for regulating competition in
Europe. 

        “Event
of Default” has the meaning assigned to such term in Article VII. 

        “Excess
Cash Flow” means, without duplication, for the Borrower and its Subsidiaries for
any period for which such amount is being determined: 

        (a)              Consolidated
Net Income of the Borrower and its Subsidiaries adjusted to exclude           any amount
of gain that both (i) is included in Consolidated Net Income and (ii)           results
in Net Proceeds actually applied to the prepayment of the Loans pursuant           to
Section 2.12(c), plus  

        (b)              the
amount of depreciation, amortization of intangibles, deferred taxes and           other
non-cash expenses (other than any deductions which (or should) represent           the
accrual of a reserve for the payment of cash charges in any future period or
          amortization of a prepaid cash expense that was paid in a prior period) which,
          pursuant to GAAP, were deducted in determining such Consolidated Net Income of
          the Borrower and its Subsidiaries, plus  

        (c)              the
amount by which working capital for such period decreased (i.e., the           decrease
in Consolidated Current Assets (excluding cash, Cash Equivalents and           Foreign
Cash Equivalents) of the Borrower and its Subsidiaries minus           Consolidated
Current Liabilities (excluding (i) changes in current liabilities           for borrowed
money and (ii) cash, Cash Equivalents or Foreign Cash Equivalents           which are Net
Proceeds required to be applied to the prepayment of the Loans           pursuant to
Section 2.12(c)) of the Borrower and its Subsidiaries from the           beginning to the
end of such period), minus  

        (d)              the
amount by which working capital for such period increased (i.e., the           increase
in Consolidated Current Assets (excluding cash, Cash Equivalents and           Foreign
Cash Equivalents) of the Borrower and its Subsidiaries minus           Consolidated
Current Liabilities (excluding (i) changes in current liabilities           for borrowed
money and (ii) cash, Cash Equivalents or Foreign Cash Equivalents           which are Net
Proceeds required to be applied to the prepayment of the Loans           pursuant to
Section 2.12(c)) of the Borrower and its Subsidiaries from the           beginning to the
end of such period), minus  

        (e)              the
amount of Consolidated Capital Expenditures of the Borrower and its
          Subsidiaries that are paid other than from the proceeds of Borrowings in such
          period, minus  

        (f)              scheduled
repayments of principal under the Term Loans pursuant to Section 2.11           made
during such period.  

For purposes of the foregoing and
without duplication, Consolidated Net Income will exclude (x) all losses on the sale of
capital assets or losses which are out of the ordinary course of business and (y) all
write-downs of capital assets. 

13 

        “Exchange
Rate” means on any day, for purposes of determining the Dollar Equivalent of any
currency other than Dollars, the rate at which such currency may be exchanged into Dollars
at the time of determination on such day on the Reuters Currency pages, if available, for
such currency. In the event that such rate does not appear on any Reuters Currency pages,
the Exchange Rate shall be determined by reference to such other publicly available
service for displaying exchange rates as may be agreed upon by the Administrative Agent
and the Borrowers, or, in the absence of such an agreement, such Exchange Rate shall
instead be the arithmetic average of the spot rates of exchange of the Administrative
Agent in the market where its foreign currency exchange operations in respect of such
currency are then being conducted, at or about such time as the Administrative Agent shall
elect after determining that such rates shall be the basis for determining the Exchange
Rate, on such date for the purchase of Dollars for delivery two Business Days later;
provided that if at the time of any such determination, for any reason, no such
spot rate is being quoted, the Administrative Agent may use any reasonable method it deems
appropriate to determine such rate, and such determination shall be conclusive absent
manifest error. 

        “Exchange
Rate Date” means, if on such date any outstanding Loan (other than a Term Loan)
is (or any Loan that has been requested at such time would be) denominated in a currency
other than Dollars, each of: 

        (a)                 the
last Business Day of each calendar month,  

        (b)                 if
an Event of Default has occurred and is continuing, any Business Day           designated
as an Exchange Rate Date by the Administrative Agent in its sole           discretion,
and  

        (c)                 each
date (with such date to be reasonably determined by the Administrative           Agent)
that is on or about the date of (i) a Borrowing Request or an Interest           Election
Request with respect to any Revolving Borrowing or (ii) each request           for the
making, issuance, amendment, renewal or extension of any Letter of           Credit,
Swingline Loan or Alternate Currency Loan.  

        “Excluded
Taxes” means, with respect to the Administrative Agent, any Lender, the Issuing
Bank or any other recipient of any payment to be made by or on account of any obligation
of the Borrowers hereunder, (a) any Tax that would not have been imposed by a jurisdiction
but for the present or former connection (other than a connection arising from entering
this Agreement or any other agreement contemplated hereby, receiving of payment under this
Agreement or other agreement contemplated hereby, or engaging in any other transaction
contemplated in this Agreement or another agreement contemplated hereby) between the
jurisdiction and the recipient (or, in the event of a recipient that is a partnership,
trust, estate, or any other person that is treated for purposes of such Tax as not being
the person to whom the payment is attributable, any Tax imposed that would have been
imposed by a jurisdiction but for the present or former connection (other than a
connection arising from entering this Agreement or any other agreement contemplated
hereby, receiving of payment under this Agreement or any other agreement contemplated
hereby) between the jurisdiction and (i) or member, beneficiary, fiduciary of such
recipient or (ii) or other person to whom the payment is attributable) and (b) in the case
of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under
Section 2.20(b)), any withholding tax that is imposed on amounts payable to such Foreign
Lender at the time such Foreign Lender becomes a party to this Agreement (or designates a
new lending office) or is attributable to such Foreign Lender’s failure to comply
with Section 2.18(e), except to the extent that such Foreign Lender (or its assignor, if
any) was entitled, at the time of designation of a new lending office (or assignment), to
receive additional amounts from the Borrowers with respect to such withholding tax
pursuant to Section 2.18(a). 

14 

        “Existing
Agent” means JPMorgan Chase Bank, N.A., as administrative agent under the
Existing Credit Agreement, and any replacement or successor administrative agent
thereunder. 

        “Existing
Credit Agreement” means the Amended and Restated Credit Agreement dated as of
December 14, 2006 among the Borrower, the Subsidiary Borrowers party thereto, JPMorgan
Chase Bank, N.A., as administrative agent, and the lenders party thereto, as amended
through the date hereof and as further amended prior to the Initial Borrowing Date. 

        “Existing
Letters of Credit” means such letters of credit as may be outstanding under the
Existing Credit Agreement on the Initial Borrowing Date and are designated on such date as
“Existing Letters of Credit” hereunder by the Borrower with the consent of the
Administrative Agent and the issuer thereof. 

        “External
Subsidiary” means a Wholly-Owned Subsidiary of the Borrower which is not a Credit
Party. 

        “Factoring
Agreement” means a factoring, receivables purchase or similar agreement which is
not entered into in connection with or as part of a Permitted Securitization or Specified
Transaction. 

        “Federal
Funds Effective Rate” means, for any day, the weighted average (rounded upwards,
if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers,
as published on the next succeeding Business Day by the Federal Reserve Bank of New York,
or, if such rate is not so published for any day that is a Business Day, the average
(rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day
for such transactions received by the Administrative Agent from three Federal funds
brokers of recognized standing selected by it. 

        “FIN
46 Subsidiary” means any variable interest entity which qualifies as a subsidiary
of the Borrower only by virtue of being required by FASB Staff Position No. FIN 46(R)-6
– Determining the Variability to be Considered in Applying FASB Interpretation No.
46(R) or any related subsequent accounting standard to be consolidated with the Borrower
for financial accounting purposes. 

        “Financial
Officer” means the chief financial officer, vice president of finance, principal
accounting officer, treasurer or controller of the Borrower. 

        “Financial
Support Direction” means a financial support direction issued by the Pensions
Regulator under Section 43 of the Pensions Act 2004 of England and Wales. 

15 

        “Foreign
Cash Equivalents” means certificates of deposit or bankers’ acceptances of
any bank organized under the laws of Canada or any country that is a member of the
European Economic Community, whose short-term commercial paper rating from S&P is at
least A-1 or the equivalent thereof or from Moody’s is at least P-1 or the equivalent
thereof, in each case with maturities of not more than six months from the date of
acquisition. 

        “Foreign
Credit Party” means a Credit Party which is a Foreign Subsidiary. 

        “Foreign Currency”
means (a) with respect to any Alternate Currency Loan, any currency acceptable to the
Administrative Agent that is freely available, freely transferable and freely convertible
into Dollars, and agreed to by the applicable Alternate Currency Lenders, (b) with respect
to any Revolving Loan, Euros, Sterling, Canadian Dollars and any other currency acceptable
to the Administrative Agent and each of the Lenders that is freely available, freely
transferable and freely convertible into Dollars and in which dealings in deposits are
carried on in the London interbank market, (c) with respect to any Letter of Credit, any
currency acceptable to the Administrative Agent that is freely available, freely
transferable and freely convertible into Dollars, and agreed to by the Issuing Bank
issuing such Letter of Credit, (d) with respect to any Swingline Foreign Currency Loan,
any currency acceptable to the Administrative Agent that is freely available, freely
transferable and freely convertible into Dollars, and agreed to by the Swingline Lender
and (e) with respect to the Term A Loan, Euros and Sterling. 

        “Foreign
Lender” means, with respect to a Borrower that is resident for Tax purposes in a
particular jurisdiction, any Lender that is regarded by the Governmental Authority of that
jurisdiction as not being resident for Tax purposes in that jurisdiction. For purposes of
this definition, the United States, each State thereof and the District of Columbia shall
be deemed to constitute a single jurisdiction. 

        “Foreign
Pension Plan” means any plan, fund (including, without limitation, any
superannuation fund) or other similar program established or maintained outside the United
States by the Borrower or any one or more of its Subsidiaries primarily for the benefit of
employees of the Borrower or such Subsidiaries residing outside the United States, which
plan, fund or other similar program provides, or results in, retirement income, a deferral
of income in contemplation of retirement or payments to be made upon termination or
severance of employment, and which plan is not subject to ERISA or the Code. 

        “Foreign
Subsidiary” means, as to any Person, each subsidiary of such Person which is not
a Domestic Subsidiary. 

        “French
Pledge Agreements” means the Pledge Agreement (Acte de Nantissement de Compte
d’Instruments Financiers) by Manitowoc FP, Inc. and the two Pledge Agreements (Acte
de Nantissement de Compte d’Instruments Financiers and Acte de Nantissement de Parts
Sociales) by Manitowoc France SAS, each dated as of the date hereof and made in favor of
the Collateral Agent for the benefit of the Secured Creditors. 

        “Funding
Transactions” means, collectively, the loans, capital contributions and other
investments described on Schedule 1.04 hereto to be effected to facilitate the funding of
the Acquisition. 

16 

        “GAAP”
means generally accepted accounting principles in the United States. 

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

        “Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or
otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any
Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any
obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or
supply funds for the purchase or payment of) such Indebtedness or other obligation or to
purchase (or to advance or supply funds for the purchase of) any property constituting
direct or indirect security for the payment thereof, (b) to purchase or lease property,
securities or services for the purpose of assuring the owner of such Indebtedness or other
obligation of the payment thereof, (c) to maintain working capital, equity capital or any
other financial statement condition or liquidity of the primary obligor or to advance or
supply funds for the foregoing so as to enable the primary obligor to pay such
Indebtedness or other obligation, (d) as an account party in respect of any letter of
credit or letter of guarantee issued to support such Indebtedness or obligation or (e)
otherwise to assure or hold harmless the owner of such Indebtedness or other obligation
against loss in respect thereof; provided, that the term Guarantee shall not
include endorsements for collection or deposit in the ordinary course of business or
Buy-Back Obligations. The amount of any Guarantee made by any guarantor shall be deemed to
be the lower of (a) an amount equal to the stated or determinable amount of the primary
obligation in respect of which such Guarantee is made and (b) the maximum amount for which
such guarantor may be liable pursuant to the terms of the instrument embodying such
Guarantee, unless (in the case of a primary obligation that is not Indebtedness) such
primary obligation and the maximum amount for which such guarantor may be liable are not
stated or determinable, in which case the amount of such Guarantee shall be such
guarantor’s maximum reasonably anticipated contingent liability in respect thereof as
determined by the Borrower in good faith. 

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

        “Implementation
Agreement” means the implementation agreement between the Target and Newco
concerning the conduct of the Scheme. 

17 

        “Indebtedness”
means, as to any Person, without duplication, (a) all indebtedness (including principal,
interest, fees and charges) of such Person for borrowed money or for the deferred purchase
price of property or services, (b) the maximum amount available to be drawn under all
letters of credit, bankers’ acceptances and similar obligations issued for the
account of such Person and all unpaid drawings in respect of such letters of credit,
bankers’ acceptances and similar obligations, (c) all indebtedness of the types
described in clause (a), (b), (d), (e), (f), (g), (h) or (i) of this definition secured by
any Lien (or for which the holder of such indebtedness has an existing right, contingent
or otherwise, to be secured by any Lien) on any property owned by such Person, whether or
not such indebtedness has been assumed by such Person (provided that, if the Person
has not assumed or otherwise become liable in respect of such indebtedness, such
indebtedness shall not be deemed to exceed an amount equal to the fair market value of the
property to which such Lien relates as determined in good faith by such Person), (d) the
aggregate amount of all Capital Lease Obligations of such Person, (e) all obligations of
such Person to pay a specified purchase price for goods or services, whether or not
delivered or accepted, i.e., take-or-pay and similar obligations, (f) all
Guarantees by such Person, (g) all obligations under any Swap Agreement or under any
similar type of agreement, (h) all indebtedness of such Person evidenced by bonds,
debentures, notes or similar interests, (i) all indebtedness of such Person under
conditional sale or other title retention agreements relating to property acquired by such
Person and (j) all Receivables Indebtedness. Notwithstanding the foregoing, Indebtedness
shall not include intra-day overdrafts or trade payables, deferred compensation
obligations, customer advances and other accrued expenses incurred by any Person in
accordance with customary practices and in the ordinary course of business of such Person
or Buy-Back Obligations. The Indebtedness of any Person shall include the Indebtedness of
any other entity (including any partnership in which such Person is a general partner) to
the extent such Person is liable therefor as a result of such Person’s ownership
interest in or other relationship with such entity, except to the extent the terms of such
Indebtedness provide that such person is not liable therefor. 

        “Indemnified
Taxes” means Taxes other than Excluded Taxes. 

        “Information Memorandum”
means the Confidential Information Memorandum relating to the Borrower and the
Transactions to be prepared and distributed to prospective Lenders prior to the Initial
Borrowing Date in connection with the syndication of the Loans. 

        “Initial
Borrowing Date” means the date on which the conditions specified in Section 4.02
are satisfied (or waived in accordance with Section 9.02). 

        “Intercompany
Loan” shall have the meaning provided in Section 6.05(i). 

        “Intercompany Note”
means each of the existing intercompany notes listed on Schedule 1.02 and each promissory
note issued on or after the Effective Date, in the form of Exhibit C, evidencing
Intercompany Loans. 

        “Interest
Election Request” means a request by the Borrower to convert or continue a
Revolving Borrowing in accordance with Section 2.08. 

        “Interest
Payment Date” means (a) with respect to any ABR Loan (other than a Swingline
Loan), the last day of each March, June, September and December, (b) with respect to any
Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of
which such Loan is a part and, in the case of a Eurocurrency Borrowing with an Interest
Period of more than three months’ duration, each day prior to the last day of such
Interest Period that occurs at intervals of three months’ duration after the first
day of such Interest Period and (c) with respect to any Swingline Loan, the day that such
Loan is required to be repaid. 

18 

        “Interest
Period” means (a) with respect to any Eurocurrency Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day
in the calendar month that is one, two, three or six months (or, with the consent of each
Lender, nine or twelve months) thereafter, as the Borrower may elect; and (b) as to any
Swingline Foreign Currency Loan, the period commencing on the date of such Loan and ending
on the day that is designated in the notice delivered pursuant to Section 2.05 with
respect to such Swingline Foreign Currency Loan, which shall not be later than thirty days
thereafter; provided, that (i) if any Interest Period would end on a day other than
a Business Day, such Interest Period shall be extended to the next succeeding Business Day
unless, in the case of a Eurocurrency Borrowing only, such next succeeding Business Day
would fall in the next calendar month, in which case such Interest Period shall end on the
next preceding Business Day and (ii) any Interest Period pertaining to a Eurocurrency
Borrowing that commences on the last Business Day of a calendar month (or on a day for
which there is no numerically corresponding day in the last calendar month of such
Interest Period) shall end on the last Business Day of the last calendar month of such
Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date
on which such Borrowing is made and thereafter shall be the effective date of the most
recent conversion or continuation of such Borrowing. 

        “Investment”
has the meaning assigned to such term in Section 6.05. 

        “Issuing
Bank” means each of JPMorgan, and such additional Lenders as may be designated as
such by the Borrower with the consent of the Administrative Agent and which agree to act
in such capacity, each as the issuer of Letters of Credit hereunder, and their respective
successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its
discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the
Issuing Bank, in which case the term “Issuing Bank” shall include any such
Affiliate with respect to Letters of Credit issued by such Affiliate. With respect to any
Letter of Credit, “Issuing Bank” shall mean the issuer thereof. 

        “JPMorgan”
means JPMorgan Chase Bank, N.A., a national banking association, and solely relative to
such Loans, J.P. Morgan Europe Limited, with respect to Loans denominated in a Foreign
Currency, and their successors. 

        “LC
Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of
Credit. 

        “LC
Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC
Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such
time. The LC Exposure of any Lender at any time shall be its Applicable Revolver
Percentage of the total LC Exposure at such time. 

        “Lenders”
means the Persons listed on Schedule 2.01 and any other Person that shall have become a
party hereto pursuant to an Assignment and Assumption, other than any such Person that
ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the context
otherwise requires, the term “Lenders” includes the Swingline Lender and the
Alternate Currency Lenders. 

19 

        “Letter
of Credit” means any letter of credit issued pursuant to this Agreement. 

        “LIBO
Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period,
the rate per annum determined by the Administrative Agent at approximately 11:00 a.m.,
London time, on the Quotation Day for such Interest Period by reference to the British
Bankers’ Association Interest Settlement Rates for deposits in the currency of such
Borrowing (as reflected on the applicable Telerate screen page), for a period equal to
such Interest Period; provided that, to the extent that an interest rate is not
ascertainable pursuant to the foregoing provisions of this definition, the “LIBO
Rate” shall be the rate at which JPMorgan offers to place deposits in the currency of
such Borrowing for such Interest Period to first-class banks in the London interbank
market at approximately 11:00 a.m., London time, on the Quotation Day for such Interest
Period. 

        “Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge,
hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or
title retention agreement (or any financing lease having substantially the same economic
effect as any of the foregoing) relating to such asset and (c) in the case of securities,
any purchase option, call or similar right of a third party with respect to such
securities. 

        “Loans”
means the loans made by the Lenders to the Borrowers pursuant to this Agreement. 

        “Local
Time” means (a) with respect to a Loan or Borrowing denominated in Dollars, New
York City time and (b) with respect to a Loan or Borrowing denominated in any Foreign
Currency, London time. 

        “Major
Default” means (with respect to the Borrower or any of its Subsidiaries
(excluding the Target Group)) an Event of Default arising under clauses (a), (b), (c) (but
only to the extent relating to a Major Representation), (d) (but only to the extent
relating to Section 5.08 (to the extent relating to the purpose for which Certain Funds
Loans are applied), Section 6.01, 6.02, 6.03, 6.04, 6.05, 6.09 (to the extent relating to
the Borrower or Newco) or 6.12 or clause (A) of the third sentence of Section 9.02(b)),
(e) (but only to the extent relating to Section 5.14 (other than Section 5.14(a)(ii),
(iii) or (vi)), or 5.15 (other than Section 5.15(a)(ii), (iii) or (vi) or Section
5.15(c)(i) or (ii)), or (h), (i), (j), (m) (but only to the extent relating to clauses (e)
or (f) of the definition of “Change in Control”), (n)(i), (o)(i) or (p)(i) of
Article VII. 

        “Major
Representation” means each of the representations and warranties set out (but
ignoring any reference therein to any member of the Target Group or their respective
assets) in Section 3.01 (except as it relates to the conduct of the business of the
Borrower or its Subsidiaries), 3.02, 3.03(b) or (c), 3.08, 3.12, 3.16, or 3.17. 

        “Mandatory
Cost Rate” shall have the meaning provided on Schedule 2.22. 

20 

        “Manitowoc Asia
Holdings” means Manitowoc Holding Asia SAS, a société par
actions simplifiée organized under the laws of France and a Wholly-Owned
Subsidiary of the Borrower. 

        “Margin
Stock” shall have the meaning provided in Regulation U. 

        “Material
Adverse Effect” means a material adverse effect on (a) the business, assets,
operations or financial condition, of the Borrower and its Subsidiaries taken as a whole,
(b) the ability of the Borrower or of the Credit Parties taken as a whole to perform any
of their repayment or other material obligations under the Credit Documents or (c) the
rights or remedies of the Administrative Agent, the Collateral Agent or the Lenders under
the Credit Documents. 

        “Material
Indebtedness” means Indebtedness (other than the Loans and Letters of Credit), or
obligations in respect of one or more Swap Agreements, of any one or more of the Borrower
and its Subsidiaries in an aggregate principal amount exceeding $20,000,000. For purposes
of determining Material Indebtedness, the “principal amount” of the obligations
of the Borrower or any Subsidiary in respect of any Swap Agreement at any time shall be
the maximum aggregate amount (giving effect to any netting rights or netting agreements)
that the Borrower or such Subsidiary would be required to pay if such Swap Agreement were
terminated at such time. 

        “Material
Subsidiary” means a Subsidiary of the Borrower (a) which has or acquires assets
constituting more than the greater of (i) .50% of the consolidated assets of the Borrower
and its consolidated subsidiaries and (ii) $20,000,000 or (b) which generated more than 4%
of Consolidated Net Income over the four fiscal quarter period most recently ended prior
to the time of computation, but excluding Grove Australia Pty. Ltd. 

        “Moody’s” means
Moody’s Investors Service, Inc. 

        “Mortgages”
means, individually and collectively, one or more mortgages, leasehold mortgages, deeds of
trust, or deeds to secure debt, executed and delivered by a Borrower or Subsidiary
Guarantor thereof in favor of the Collateral Agent, for the benefit of the Lenders, as the
same may be amended, restated, amended and restated, modified or supplemented from time to
time. 

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

        “Net
Proceeds” means, with respect to any event, (a) the cash proceeds received in
respect of such event, including (i) any cash received in respect of any non-cash proceeds
(including any cash payments received by way of deferred payment of principal pursuant to
a note or installment receivable or purchase price adjustment or earn-out, but excluding
any reasonable interest payments), but only as and when received, (ii) in the case of a
casualty, cash insurance proceeds, and (iii) in the case of a condemnation or similar
event, cash condemnation awards and similar payments received in connection therewith,
minus (b) the sum of (i) all fees and expenses (including commissions and legal,
accounting and other professional and transactional fees) paid by the Borrowers and the
Subsidiaries to third parties (other than Affiliates) in connection with such event, (ii)
in the case of a sale, transfer or other disposition of an asset (including pursuant to a
sale and leaseback transaction or a casualty or a condemnation or similar proceeding), the
amount of all payments that are permitted hereunder and are made by the Borrowers and the
Subsidiaries as a result of such event to repay Indebtedness (other than Loans) secured by
such asset or otherwise subject to mandatory prepayment as a result of such event, and
(iii) the amount of all taxes paid (or reasonably estimated to be payable) by the
Borrowers and the Subsidiaries, and the amount of any reserves established by the
Borrowers and the Subsidiaries to fund contingent liabilities reasonably estimated to be
payable, that are directly attributable to such event (as determined reasonably and in
good faith by their respective Financial Officers), provided that any reduction at
any time in the amount of any such reserves (other than as a result of payments made in
respect thereof) shall be deemed to constitute the receipt by Borrower at such time of Net
Proceeds in the amount of such reduction. 

21 

        “Newco”
means MTW County Ltd., a limited liability company incorporated under the laws of England
and Wales (and which may become domesticated in the State of Delaware pursuant to Section
388 of the Delaware General Corporation Law), which is a Wholly-Owned Foreign Subsidiary. 

        “Obligations”
means all liabilities and obligations, whether actual or contingent, of any Credit Party
to the Administrative Agent, the Collateral Agent, the Issuing Bank, the Swingline Lender,
the Alternate Currency Lenders, any Lender or any indemnified party hereunder or under any
other Credit Document, in each case arising under any Credit Document. 

        “Offer”
means each of the offers proposed to be made by Newco, substantially on the terms and
conditions (as from time to time amended, added to, extended, revised, renewed or waived
only insofar as the same is effected in accordance with the terms of this Agreement) set
out in the Press Release, to acquire the whole of the share capital (whether in issue or,
subject to those terms and conditions, to be allotted or issued) of the Target not already
owned by Newco. 

        “Offer
Document” means the offer document issued, or to be issued, by Newco to the
shareholders of the Target (including form of acceptance) in respect of the Offer. 

        “Offer
Shares” means the shares of the Target to which the Offer relates. 

        “Offsetting
Cash Amount” means the aggregate stated balance sheet amount of cash, Cash
Equivalents and Foreign Cash Equivalents of the Borrower and its Wholly-Owned Domestic
Subsidiaries (excluding any portion thereof which is subject to a Lien in favor of a
Person other than the Collateral Agent or is otherwise restricted). 

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

        “Parent
Guaranty” means that certain guaranty dated as of the date hereof made by the
Borrower in favor of the Secured Creditors, as the same may be amended, restated, amended
and restated, modified or supplemented from time to time. 

        “Participant”
has the meaning set forth in Section 9.04(c). 

22 

        “Participating
Lender” means, with respect to any Alternate Currency Borrowing, a Lender with a
Revolving Commitment which is not an Alternate Currency Lender with respect to such
Borrowing. 

        “PBGC”
means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any
successor entity performing similar functions. 

        “Pensions
Regulator” means the body corporate called the Pensions Regulator established
under Part I of the Pensions Act 2004 of England and Wales. 

        “Permitted
Acquisition” means the acquisition by the Borrower or a Wholly-Owned Subsidiary
thereof of an Acquired Entity or Business (including by way of merger of such Acquired
Entity or Business with and into the Borrower (so long as the Borrower is the surviving
corporation) or a Wholly-Owned Subsidiary thereof (so long as the survivor of such merger
is a Wholly-Owned Subsidiary)); provided that, in each case, (a) the consideration
paid or to be paid by the Borrower or such Wholly-Owned Subsidiary consists solely of cash
(including proceeds of Revolving Loans or Swingline Loans), the issuance or incurrence of
Indebtedness otherwise permitted by Section 6.01, the issuance of common stock of the
Borrower or Qualified Preferred Stock of the Borrower in each case to the extent no
Default or Event of Default exists pursuant to clause (m) of Article VII or would result
therefrom and the assumption/acquisition of any Indebtedness (calculated at face value)
which is permitted to remain outstanding in accordance with the requirements of Section
6.01, (b) in the case of the acquisition of 100% of the capital stock of any Person
(including by way of merger), such Person shall own no capital stock of any other Person
(excluding de minimis amounts) unless either (i) such Person owns 100% of the
capital stock of such other Person or (ii) (x) such Person and its Wholly-Owned
Subsidiaries own at least 80% of the consolidated assets of such other Person and its
Subsidiaries and (y) any non-Wholly-Owned Subsidiary of such Person was a non-Wholly-Owned
Subsidiary prior to the date of such Permitted Acquisition of such Person, (c) the
Acquired Entity or Business acquired pursuant to the respective Permitted Acquisition is
in a business permitted by Section 6.03(b) and (d) all applicable requirements of Sections
6.03 and 6.05(m) applicable to Permitted Acquisitions are satisfied. 

        “Permitted
Liens” has the meaning assigned to such term in Section 6.02. 

        “Permitted Securitization”
means any receivables financing program providing for the sale of accounts receivable and
related rights by the Borrower or its Subsidiaries to an SPC for cash in transactions
purporting to be sales (and treated as sales for GAAP purposes), which SPC shall finance
the purchase of such assets by the sale, transfer, conveyance, lien or pledge of such
assets to one or more limited purpose financing companies, special purpose entities and/or
other financial institutions, in each case pursuant to documentation in form and substance
reasonably satisfactory to the Administrative Agent. Specified Transactions and related
transfers of accounts receivable shall not constitute or be deemed part of a Permitted
Securitization. 

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

23 

        “Plan”
means any employee pension benefit plan (other than a Multiemployer Plan) subject to the
provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in
respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in
Section 3(5) of ERISA. 

        “Posting
Date” means: (a) in relation to the Offer, the date on which the Offer Document
is posted; and (b) in relation to the Scheme, the date on which the Scheme Document is
posted. 

        “Prepayment
Event” means:  

        (a)                 any
sale, transfer or other disposition (including pursuant to a sale and           leaseback
transaction (other than such a transaction, the purpose of which is to           finance
the asset sold) and by way of merger or consolidation in which neither           the
Borrower nor any Subsidiary is the surviving entity) of any property or           asset
of any Borrower or any Subsidiary, other than (i) sales and/or rentals of
          inventory in the ordinary course of business, (ii) sales of Cash Equivalents
and           Foreign Cash Equivalents in the ordinary course of business, (iii) sales of
          accounts receivable to the extent permitted by Section 6.03 (a)(vii) or (xiv),
          (iv) dispositions to the Borrower or any Subsidiary and (v) dispositions
          resulting in aggregate Net Proceeds not exceeding (A) $10,000,000 in the case
of           any single transaction or series of related transactions or (B) $25,000,000
for           all such transactions during any fiscal year of Borrower;  

        (b)                 any
casualty or other insured damage to, or any taking under power of eminent
          domain or by condemnation or similar proceeding of, any property or asset of,
          any Borrower or any Subsidiary resulting in Net Proceeds equal to or greater
          than $10,000,000;  

        (c)                 the
issuance by any Borrower or any Subsidiary of any Equity Interests, or the
          receipt by any Borrower or any Subsidiary of any capital contribution, other
          than any such issuance of Equity Interests to the Borrower or any Wholly-Owned
          Subsidiary or pursuant to a stock incentive plan, stock option plan or other
          equity-based compensation plan or arrangement for employees, officers and
          directors of any Borrower or any Subsidiary or receipt of a capital
contribution           from the Borrower or any Subsidiary; or  

        (d)                 the
incurrence by any Borrower or any Subsidiary of any Indebtedness for           borrowed
money, other than Indebtedness permitted under Section 6.01           (except
Section 6.01(q)(i)).  

        “Press
Release” means the first press release in the form agreed by the Administrative
Agent announcing Newco’s firm intention to make an offer for the Target Shares
(whether by way of a Scheme or Offer). 

        “Prime
Rate” means the rate of interest per annum publicly announced from time to time
by JPMorgan as its prime rate in effect at its principal office in New York City; each
change in the Prime Rate shall be effective from and including the date such change is
publicly announced as being effective. 

24 

        “Pro
Forma Basis” means, in connection with any calculation of compliance with any
financial covenant or financial term, the calculation thereof after giving effect on a
pro forma basis to (a) the incurrence of any Indebtedness (other than
revolving Indebtedness, except to the extent same is incurred to refinance other
outstanding Indebtedness or to finance a Permitted Acquisition) after the first day of the
relevant calculation period as if such Indebtedness had been incurred (and the proceeds
thereof applied) on the first day of the relevant calculation period, (b) the permanent
repayment of any Indebtedness (other than revolving Indebtedness) after the first day of
the relevant calculation period as if such Indebtedness had been retired or redeemed on
the first day of the relevant calculation period and (c) the Permitted Acquisition, if
any, then being consummated as well as any other Permitted Acquisition consummated after
the first day of the relevant calculation period and on or prior to the date of the
respective Permitted Acquisition then being effected, as the case may be, with the
following rules to apply in connection therewith: 

	 	        (i)                      all
Indebtedness (x) (other than revolving Indebtedness, except to the extent
               same is incurred to refinance other outstanding Indebtedness or to finance
a                Permitted Acquisition) incurred or issued after the first day of the
relevant                calculation period (whether incurred to finance a Permitted
Acquisition, to                refinance Indebtedness or otherwise) shall be deemed to
have been incurred or                issued (and the proceeds thereof applied) on the
first day of the respective                calculation period and remain outstanding
through the date of determination and                (y) (other than revolving
Indebtedness) permanently retired or redeemed after                the first day of the
relevant calculation period shall be deemed to have been                retired or
redeemed on the first day of the respective calculation period and                remain
retired through the date of determination;  

	 	        (ii)                      all
Indebtedness assumed to be outstanding pursuant to preceding clause (i)
               shall be deemed to have borne interest at (x) the rate applicable thereto,
in                the case of fixed rate indebtedness or (y) the rates which would have
been                applicable thereto during the respective period when same was deemed
               outstanding, in the case of floating rate Indebtedness (although interest
               expense with respect to any Indebtedness for periods while same was
actually                outstanding during the respective period shall be calculated
using the actual                rates applicable thereto while same was actually
outstanding); and  

	 	        (iii)                      in
making any determination of Consolidated EBITDA, pro forma               effect
shall be given to any Permitted Acquisition consummated during the                periods
described above, with such Consolidated EBITDA to be determined as if                such
Permitted Acquisition was consummated on the first day of the relevant
               calculation period, taking into account factually supportable and
identifiable                cost savings and expenses or which would otherwise be
permitted to be accounted                for as an adjustment pursuant to Article 11 of
Regulation S-X under the                Securities Act, as if such cost savings or
expenses were realized on the first                day of the respective calculation
period.  

        “Qualified
Preferred Stock” means any preferred stock of the Borrower so long as the terms
of any such preferred stock (a) do not contain any mandatory put, redemption, repayment,
sinking fund or other similar provision, (b) do not require the cash payment of dividends
or distributions, (c) do not contain any covenants, (d) do not grant the holders thereof
any voting rights except for (i) voting rights required to be granted to such holders
under applicable law and (ii) limited customary voting rights on fundamental matters such
as mergers, consolidations, sales of all or substantially all of the assets of the
Borrower, or liquidations involving the Borrower and (e) are otherwise reasonably
satisfactory to the Administrative Agent. 

25 

        “Quotation
Day” means, with respect to any Eurocurrency Borrowing or Swingline Foreign
Currency Borrowing and any Interest Period, the day on which it is market practice in the
relevant interbank market for prime banks to give quotations for deposits in the currency
of such Borrowing for delivery on the first day of such Interest Period. If such
quotations would normally be given by prime banks on more than one day, the Quotation Day
will be the last of such days. 

        “Real
Property” of any Person means all the right, title and interest of such Person in
and to land, improvements and fixtures. 

        “Receivables
Indebtedness” means, at any time, sum of (a) the aggregate amount of uncollected
accounts receivables of the Borrower and its Subsidiaries at such time which have been (or
which are then being) sold pursuant to a Factoring Agreement plus (b) without duplication,
the aggregate amount of outstanding obligations incurred by the Borrower and its
Subsidiaries (including any SPC) in connection with a Permitted Securitization that would
be characterized as principal if such Permitted Securitization in its entirety were
structured as a secured lending transaction rather than a purchase (regardless, in either
case, of whether any liability of the Borrower or any Subsidiary thereof in respect of
related accounts receivable would be required to be reflected on a balance sheet of such
Person in accordance with generally accepted accounting principles). 

        “Receiving
Agent” means any person appointed as the receiving agent for the Offer with the
consent of the Administrative Agent. 

        “Receiving
Agent Agreement” means the agreement entered into, or to be entered into, between
the Receiving Agent and Newco in relation (among other things) to the receipt and
settlement of acceptances of the Offer. 

        “Register”
has the meaning set forth in Section 9.04(b)(iv). 

        “Regulation
T” means Regulation T of the Board as from time to time in effect and any
successor to all or a portion thereof. 

        “Regulation
U” means Regulation U of the Board as from time to time in effect and any
successor to all or a portion thereof. 

        “Regulation
X” means Regulation X of the Board as from time to time in effect and any
successor to all or a portion thereof. 

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

26 

        “Release”
means the active or passive disposing, discharging, injecting, spilling, pumping, leaking,
leaching, dumping, emitting, escaping, emptying, pouring, seeping, migrating or the like,
into or upon any land or water or air, or otherwise entering into the environment. 

        “Rental
Fleet” means all crane products owned by the Borrower or its Subsidiaries which
are (a) included in the consolidated balance sheet of the Borrower and (b) for which the
current business purpose is to rent such crane products to customers under operating
leases. GAAP restatement equipment and sale-leaseback equipment shall not be included in
the Rental Fleet. 

        “Required
Lenders” means, at any time, Lenders having Revolving Credit Exposures, unused
Revolving Commitments, unused Term Commitments and outstanding Term Loans representing at
least 50.1% of the sum of the total Revolving Credit Exposures, unused Revolving
Commitments, unused Term Commitments and outstanding Term Loans at such time. 

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

        “Revolving
Borrowing” means a Borrowing comprised of Revolving Loans. 

        “Revolving Commitment”
means, with respect to each Lender, the commitment of such Lender to make Revolving Loans
and to acquire participations in Letters of Credit, Swingline Loans and Alternate Currency
Loans hereunder, expressed as an amount representing the maximum aggregate amount of such
Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced
or increased from time to time pursuant to Section 2.09 and (b) reduced or increased from
time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The
initial amount of each Lender’s Revolving Commitment is set forth on Schedule 2.01,
or in the Assignment and Assumption pursuant to which such Lender shall have assumed its
Revolving Commitment, as applicable. The initial aggregate amount of the Lenders’
Revolving Commitments is $400,000,000. 

        “Revolving
Credit Exposure” means, with respect to any Lender at any time, the sum of the
outstanding principal amount of such Lender’s Revolving Loans, LC Exposure, Swingline
Exposure and Alternate Currency Exposure at such time. 

        “Revolving
Loan” means a loan made pursuant to Section 2.01(a). 

        “Revolving
Maturity Date” means the fifth anniversary of the Initial Borrowing Date. 

        “S&P” means
Standard & Poor’s. 

27 

        “Sale
Transaction” means the consummation of the sale by a Wholly-Owned Subsidiary of
the Borrower of all of the stock of a Subsidiary previously disclosed in writing by the
Borrower to the Administrative Agent. 

        “Sale-Leaseback
Differential” means, with respect to any fiscal quarter end of the Borrower, the
excess, if any, of (a) rent or other payments made by the Borrower or its Subsidiaries
during the period of four fiscal quarters then ended to lessors pursuant to Sale-Leaseback
Transactions over (b) the amount of rent or other payments received during such four
fiscal quarter period by the Borrower or its Subsidiaries in their capacity as lessors of
equipment which was the subject of a Sale-Leaseback Transaction. 

        “Sale-Leaseback
Transaction” means a sale-leaseback transaction entered into by the Borrower or
its Subsidiaries in the ordinary course of business and on a basis consistent with past
practice with one or more financial institutions as lessor pursuant to which the Borrower
or its Subsidiaries sells crane products to such lessor for cash and such lessor
subsequently leases back such crane products to the Borrower or its Subsidiaries. 

        “Scheme”
means a scheme of arrangement under Section 895 of the 2006 Companies Act in respect of
the Target pursuant to which Newco subscribes in cash for all of the new shares issued in
the Target in conjunction with the Target canceling all of its share capital existing
immediately prior to such scheme of arrangement becoming effective; 

        “Scheme
Document” means the document issued, or to be issued, by or on behalf of the
Target to its shareholders in respect of the Scheme. 

        “Scheme
Effective Date” means the date on which the Scheme becomes effective, being the
later of the dates on which (a) an office copy of an appropriate court order approving the
Scheme has been delivered to the registrar of companies for registration; and (b) a
certificate of registration is issued by the registrar of companies evidencing
registration of the order and minute (approved by the court) and giving effect to the
reduction in the Target’s share capital under Section 138 of the Companies Act. 

        “Secured
Creditors” shall have the meaning assigned that term in the respective Security
Documents. 

        “Security
Documents” means and includes each of the US Security Agreement, the US Pledge
Agreement, the UK Security Agreement, the French Pledge Agreements, the Mortgages, after
the execution and delivery thereof, each Additional Security Document and each other
document or instrument pursuant to which security is granted to the Collateral Agent for
the benefit of any of the Secured Creditors pursuant hereto. 

        “Senior
Note Documents” means the Senior Note Indenture and all other documents executed
and delivered with respect to the Senior Notes or Senior Note Indenture as in effect on
the Effective Date and as the same may be amended, restated, amended and restated,
modified or supplemented from time to time in accordance with the terms hereof and
thereof. 

        “Senior
Note Indenture” means the Indenture dated as of November 6, 2003, among the
Borrower and the other parties thereto, as in effect on the Effective Date and as the same
may be amended, restated, amended and restated, modified or supplemented from time to time
in accordance with the terms hereof and thereof. 

28 

        “Senior
Notes” means the Borrower’s 7-1/8% Senior Notes due 2013, issued pursuant to
the Senior Note Indenture, as in effect on the Effective Date and as the same may be
amended, modified or supplemented from time to time in accordance with the terms hereof
and thereof. 

        “SPC”
means a special purpose, bankruptcy-remote Person formed for the sole and exclusive
purpose of engaging in activities in connection with the purchase, sale and financing of
accounts receivable and related rights in connection with and pursuant to a Permitted
Securitization. 

        “Specified
Transaction” means a customer financing transaction which occurs in the ordinary
course of business of the Borrower or its Subsidiaries, which involves a credit extension
of more than ninety days and which involves an assignment of the applicable receivable by
the Borrower or its Subsidiaries to a third party lender. 

        “Statutory
Reserve Rate” means a fraction (expressed as a decimal), the numerator of which
is the number one and the denominator of which is the number one minus the
aggregate of the maximum reserve percentages (including any marginal, special, emergency
or supplemental reserves) expressed as a decimal established by the Board to which the
Administrative Agent is subject (a) with respect to the Base CD Rate, for new negotiable
nonpersonal time deposits in Dollars of over $100,000 with maturities approximately equal
to three months and (b) with respect to the Adjusted LIBO Rate, for eurocurrency funding
(currently referred to as “Eurocurrency Liabilities” in Regulation D of the
Board). Such reserve percentages shall include those imposed pursuant to such Regulation
D. Eurocurrency Loans shall be deemed to constitute eurocurrency funding and to be subject
to such reserve requirements without benefit of or credit for proration, exemptions or
offsets that may be available from time to time to any Lender under such Regulation D or
any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on
and as of the effective date of any change in any reserve percentage. 

        “Sterling”
or “£” means the lawful currency of the United Kingdom of Great
Britain and Northern Ireland. 

        “subsidiary”
means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the
accounts of which would be consolidated with those of the parent in the parent’s
consolidated financial statements if such financial statements were prepared in accordance
with GAAP as of such date, as well as any other corporation, limited liability company,
partnership, association or other entity (a) of which securities or other ownership
interests representing more than 50% of the equity or more than 50% of the ordinary voting
power or, in the case of a partnership, more than 50% of the general partnership interests
are, as of such date, owned, controlled or held or (b) that is, as of such date, otherwise
Controlled, by the parent or one or more subsidiaries of the parent or by the parent and
one or more subsidiaries of the parent. 

29 

        “Subsidiary”
means any subsidiary of the Borrower other than a FIN 46 Subsidiary. 

        “Subsidiary
Borrower” means BPGR, Manitowoc Asia Holdings and each Wholly-Owned Foreign
Subsidiary designated as such by the Borrower pursuant to Section 2.21. 

        “Subsidiary
Guarantor” means each Subsidiary of the Borrower which is a party to the
Subsidiary Guaranty. 

        “Subsidiary
Guaranty” means the Subsidiary Guaranty dated as of the date hereof made by the
Subsidiaries party thereto in favor of the Secured Creditors, as the same may be amended,
restated, amended and restated, modified or supplemented from time to time. The Subsidiary
Guarantors initially party to the Subsidiary Guaranty are so designated on Schedule 3.13
hereto. 

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

        “Swingline
Dollar Loan” means a Swingline Loan denominated in Dollars. 

        “Swingline Exposure”
means, at any time, the aggregate principal amount of all Swingline Loans outstanding at
such time. The Swingline Exposure of any Lender at any time shall be its Applicable
Revolver Percentage of the total Swingline Exposure at such time. 

        “Swingline
Foreign Currency Loan” means a Swingline Loan denominated in a Foreign Currency. 

        “Swingline Lender”
means JPMorgan, in its capacity as lender of Swingline Loans hereunder. 

        “Swingline
Loan” means a loan made pursuant to Section 2.05. 

        “Takeover
Code” means the City Code on Takeovers and Mergers, as amended from time to time. 

        “Target”
means Enodis plc, whose registered office is at 175 High Holborn, London WC1V7AA. 

        “TARGET” means
the Trans-European Automated Real-time Gross Settlement Express Transfer payment system
which utilizes interlinked national real time gross settlement systems and the European
Central Bank’s payment mechanism and which began operations on 4 January 1999. 

30 

        “TARGET2”
means the Trans-European Automated Real-time Gross Settlement Express Transfer payment
system which utilizes a single shared platform and which was launched on 19 November 2007. 

        “Target
Day” means:  

        (a)                 until
such time as TARGET is permanently closed down and ceases operations any           day on
which both TARGET and TARGET2 are; and  

        (b)                 following
such time as TARGET is permanently closed down and ceased operations,           any day
on which TARGET2 is,  

        open
for the settlement of payments in Euro. 

        “Target
Debt” means Indebtedness of any member of the Target Group pursuant to (a) that
certain $400,000,000 Multi-Currency Revolving Facility Agreement dated June 5, 2007 by and
among certain members of the Target Group, Lloyds TSB Bank plc, Wachovia Bank, National
Association, The Royal Bank of Scotland plc, BNP Paribas, London Branch and SunTrust Bank,
as Mandated Lead Arrangers, DSB Bank Ltd, as Senior Lead Manager, Comerica Bank, as Lead
Manager, Lloyds TSB Bank plc, as Facility Agent and The Royal Bank of Scotland plc, as
Issuing Bank, to be paid in full on the Initial Funding Date, and (b) that certain Note
Purchase and Guaranty Agreement dated as of September 6, 2007 among certain members of the
Target Group, and the Purchasers party thereto, pursuant to which were issued $30,000,000
5.90% Guaranteed Senior Notes, Series A, due September 6, 2014, its $95,000,000 6.10%
Guaranteed Senior Notes, Series B, due September 6, 2017, its $50,000,000 Floating Rate
Guaranteed Senior Notes, Series C, due September 6, 2014, its $30,000,000 Floating Rate
Guaranteed Senior Notes, Series D, due September 6, 2017, its $2,500,000 5.86% Guaranteed
Senior Notes, Series E, due September 6, 2014, and its $42,200,000 6.07% Guaranteed Senior
Notes, Series F, due September 6, 2017, to be paid in full not later than 45 days from the
Initial Funding Date. 

        “Target
Group” means the Target and its subsidiaries from time to time and “member
of the Target Group” means any of them. 

        “Target
Shares” means shares in the capital of the Target (whether in issue or, subject
to the terms of the Scheme Document or (as applicable) the Offer Document, to be allotted
or issued). 

        “Tax
Sharing Agreements” means all tax sharing, tax allocation and other similar
agreements entered into by the Borrower or any of its Subsidiaries. 

        “Taxes”
means any and all present or future taxes, levies, imposts, duties, deductions, charges or
withholdings imposed by any Governmental Authority. 

        “Term
A Borrowing” means a Borrowing comprised of Term A Loans. 

        “Term A
Commitment” means, with respect to each Lender, the commitment of such Lender to
make Term A Loans hereunder, expressed as an amount representing the maximum aggregate
principal amount of such Lender’s Term A Loans. The amount of each Lender’s Term
A Commitment is set forth on Schedule 2.01. The initial aggregate amount of the
Lenders’ Term A Commitment is $900,000,000. 

31 

        “Term
A Loan” means, with respect to each Lender, such Lender’s pro-rata portion
of the Term A Borrowings made by the Lenders pursuant to Section 2.01(b) and Section
2.09(d) and, with respect to all Lenders, the aggregate of all such pro-rata portions. 

        “Term
A Maturity Date” means the fifth anniversary of the Initial Borrowing Date. 

        “Term Borrowing”
means a Term A Borrowing, a Term Y Borrowing or a Term X Borrowing. 

        “Term
Commitments” means the Term A Commitments, the Term Y Commitments and the Term X
Commitments. 

        “Term
End Date” means the earlier of (a) the last day of the Certain Funds Period and
(b) the date upon which all Term Commitments have terminated. 

        “Term
X Borrowing” means a Borrowing comprised of Term X Loans. 

        “Term X
Commitment” means, with respect to each Lender, the commitment of such Lender to
make Term X Loans hereunder, expressed as an amount representing the maximum aggregate
principal amount of such Lender’s Term X Loans. The amount of each Lender’s Term
X Commitment is set forth on Schedule 2.01. The initial aggregate amount of the
Lenders’ Term X Commitment is $300,000,000. 

        “Term
X Loan” means, with respect to each Lender, such Lender’s pro-rata portion
of the Term X Borrowings made by the Lenders pursuant to Section 2.01(d) and, with respect
to all Lenders, the aggregate of all such pro-rata portions. 

        “Term
X Maturity Date” means the eighteen-month anniversary of the Initial Borrowing
Date. 

        “Term
Y Borrowing” means a Borrowing comprised of Term Y Loans. 

        “Term Y
Commitment” means, with respect to each Lender, the commitment of such Lender to
make Term Y Loans hereunder, expressed as an amount representing the maximum aggregate
principal amount of such Lender’s Term Y Loans. The amount of each Lender’s Term
Y Commitment is set forth on Schedule 2.01. The initial aggregate amount of the
Lenders’ Term Y Commitment is $800,000,000. 

        “Term
Y Loan” means, with respect to each Lender, such Lender’s pro-rata portion
of the Term Y Borrowings made by the Lenders pursuant to Section 2.01(c) and, with respect
to all Lenders, the aggregate of all such pro-rata portions. 

32 

        “Term
Y Maturity Date” means the sixth anniversary of the Initial Borrowing Date. 

        “Termination
Letter” means a letter in substantially the form of Exhibit D hereto. 

        “Term
Loans” means the Term A Loans, the Term Y Loans and the Term X Loans. 

        “Three
Month Secondary CD Rate” means, for any day, the secondary market rate for three
month certificates of deposit reported as being in effect on such day (or, if such day is
not a Business Day, the next preceding Business Day) by the Board through the public
information telephone line of the Federal Reserve Bank of New York (which rate will, under
the current practices of the Board, be published in Federal Reserve Statistical Release
H.15(519) during the week following such day) or, if such rate is not so reported on such
day or such next preceding Business Day, the average of the secondary market quotations
for three month certificates of deposit of major money center banks in New York City
received at approximately 10:00 a.m., New York City time, on such day (or, if such day is
not a Business Day, on the next preceding Business Day) by the Administrative Agent from
three negotiable certificate of deposit dealers of recognized standing selected by it. 

        “Transaction
Documents” means the Credit Documents and the Acquisition Documents. 

        “Transactions”
means the execution, delivery and performance by the Credit Parties of the Credit
Documents, the borrowing of Loans, the use of the proceeds thereof, and the issuance of
Letters of Credit hereunder and the other transactions contemplated by the Credit
Documents (including without limitation the granting of Liens to secure the Obligations
and the Acquisition). 

        “Type”,
when used in reference to any Loan or Borrowing, refers to whether the rate of interest on
such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
Adjusted LIBO Rate or the Alternate Base Rate. 

        “UCC”
means the Uniform Commercial Code as from time to time in effect in the relevant
jurisdiction. 

        “UK
Security Agreement” means the Security Agreement dated on or about the date
hereof made by North Central Crane & Excavator Sales Corp. (to be renamed Manitowoc
FSG International Holdings, Inc.), in favor of the UK Security Trustee for the benefit of
the Secured Creditors, as the same may be amended, restated, amended and restated,
modified or supplemented from time to time. 

        “UK
Security Agreement Collateral” means all “Security Assets” as defined
in the UK Security Agreement. 

        “UK
Security Trustee” means the Administrative Agent acting as trustee pursuant to
the UK Security Agreement. 

33 

        “Unconditional
Date” means (a) if the Acquisition is effected by means of the Scheme, the Scheme
Effective Date or (b) if the Acquisition is effected by means of the Offer, the date on
which the Offer has become or is declared unconditional in all respects. 

        “United
States” means the United States of America. 

        “US
Pledge Agreement” means the Pledge Agreement dated as of the date hereof made by
certain of the Credit Parties in favor of the Collateral Agent for the benefit of the
Secured Creditors, as the same may be amended, restated, amended and restated, modified or
supplemented from time to time. 

        “US
Pledge Agreement Collateral” means all “Collateral” as defined in the
US Pledge Agreement. 

        “US
Security Agreement” means the Security Agreement dated as of the date hereof made
by the Credit Parties in favor of the Collateral Agent for the benefit of the Secured
Creditors, as the same may be amended, restated, amended and restated, modified or
supplemented from time to time. 

        “US
Security Agreement Collateral” means all “Collateral” as defined in the
US Security Agreement. 

        “Weighted
Average Life to Maturity” means, when applied to any Indebtedness, at any date,
the quotient obtained by dividing: 

	 	        (i)
       the sum of the products of the number of years
from the date of determination to                the date of each successive scheduled
principal payment of such Indebtedness                multiplied by the amount of such
payment, by  

	 	        (ii)
       the sum of all such payments.  

        “Wholly-Owned
Domestic Subsidiary” means each Domestic Subsidiary of the Borrower that is also
a Wholly-Owned Subsidiary of the Borrower. 

        “Wholly-Owned
Foreign Subsidiary” means each Foreign Subsidiary of the Borrower that is also a
Wholly-Owned Subsidiary of the Borrower. 

        “Wholly-Owned
Subsidiary” means, as to any Person, (a) any corporation 100% of whose capital
stock is at the time owned by such Person and/or one or more Wholly-Owned Subsidiaries of
such Person and (b) any partnership, limited liability company, association, joint venture
or other entity in which such Person and/or one or more Wholly-Owned Subsidiaries of such
Person has a 100% equity interest at such time (other than, in the case of a Foreign
Subsidiary with respect to preceding clauses (a) and (b), director’s qualifying
shares and/or other nominal amount of shares required to be held by Persons other than the
Borrower and its Subsidiaries under applicable law). 

34 

        “Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or
partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA. 

        SECTION
1.02.    Classification of Loans and Borrowings. For purposes
of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving
Loan”) or by Type (e.g., a “Eurocurrency Loan”) or by Class and
Type (e.g., a “Eurocurrency Revolving Loan”). Borrowings also may be
classified and referred to by Class (e.g., a “Revolving Borrowing”) or
by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g.,
a “Eurocurrency Revolving Borrowing”).  

        SECTION
1.03.    Terms Generally. The definitions of terms herein
shall apply equally to the singular and plural forms of the terms defined. Whenever the
context may require, any pronoun shall include the corresponding masculine, feminine and
neuter forms. The words “include”, “includes” and “including” shall
be deemed to be followed by the phrase “without limitation”. The word “will” shall
be construed to have the same meaning and effect as the word “shall”. Unless
the context requires otherwise (a) any definition of or reference to any agreement,
instrument or other document herein shall be construed as referring to such agreement,
instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications
set forth herein), (b) any reference herein to any Person shall be construed to include
such Person’s successors and assigns, (c) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all references
herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to
Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words
“asset” and “property” shall be construed to have the same meaning
and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights.  

        SECTION
1.04.    Accounting Terms; GAAP. Except as otherwise expressly
provided herein, all terms of an accounting or financial nature shall be construed in
accordance with GAAP, as in effect from time to time; provided that, if the
Borrower notifies the Administrative Agent that the Borrower requests an amendment to any
provision hereof to eliminate the effect of any change occurring after the date hereof in
GAAP or in the application thereof on the operation of such provision (or if the
Administrative Agent notifies the Borrower that the Required Lenders request an amendment
to any provision hereof for such purpose), regardless of whether any such notice is given
before or after such change in GAAP or in the application thereof, then such provision
shall be interpreted on the basis of GAAP as in effect and applied immediately before
such change shall have become effective until such notice shall have been withdrawn or
such provision amended in accordance herewith.  

        SECTION
1.05.    Foreign Currency Calculations. (a) For purposes of
determining the Dollar Equivalent of any Advance denominated in a Foreign Currency or any
related amount, the Administrative Agent shall determine the Exchange Rate as of the
applicable Exchange Rate Date with respect to each Foreign Currency in which any
requested or outstanding Advance is denominated and shall apply such Exchange Rates to
determine such amount (in each case after giving effect to any Advance to be made or
repaid on or prior to the applicable date for such calculation).  

35 

        (b)                 For
purposes of any determination under Article VI or Article VII, all amounts
          incurred, outstanding or proposed to be incurred or outstanding in currencies
          other than Dollars shall be translated into Dollars at the currency exchange
          rates in effect on the date of such determination; provided that no
          Default shall arise as a result of any limitation set forth in Dollars in
          Section 6.01 or 6.02 being exceeded solely as a result of changes in currency
          exchange rates from those rates applicable at the time or times Indebtedness or
          Liens were initially consummated in reliance on the exceptions under such
          Sections. For purposes of any determination under Section 6.04 or 6.08, the
          amount of each investment, asset disposition or other applicable transaction
          denominated in a currency other than Dollars shall be translated into Dollars
at           the currency exchange rate in effect on the date such investment,
disposition or           other transaction is consummated. Such currency exchange rates
shall be           determined in good faith by the Borrower.  

        SECTION
1.06.    Redenomination of Certain Foreign Currencies. (a)
Each obligation of any party to this Agreement to make a payment denominated in the
national currency unit of any member state of the European Union that adopts the Euro as
its lawful currency after the Effective Date shall be redenominated into Euro at the time
of such adoption (in accordance with the EMU Legislation). If, in relation to the
currency of any such member state, the basis of accrual of interest expressed in this
Agreement in respect of that currency shall be inconsistent with any convention or
practice in the London Interbank Market for the basis of accrual of interest in respect
of the Euro, such expressed basis shall be replaced by such convention or practice with
effect from the date on which such member state adopts the Euro as its lawful currency;
provided that if any Borrowing in the currency of such member state is outstanding
immediately prior to such date, such replacement shall take effect, with respect to such
Borrowing, at the end of the then current Interest Period.  

        (b)                 Without
prejudice and in addition to any method of conversion or rounding           prescribed by
any EMU Legislation and (i) without limiting the liability of any           Borrower for
any amount due under this Agreement and (ii) without increasing any           Commitment
of any Lender, all references in this Agreement to minimum amounts           (or integral
multiples thereof) denominated in the national currency unit of any           member
state of the European Union that adopts the Euro as its lawful currency           after
the Effective Date shall, immediately upon such adoption, be replaced by
          references to such minimum amounts (or integral multiples thereof) as shall be
          specified herein with respect to Borrowings denominated in Euros.  

        (c)                 Each
provision of this Agreement shall be subject to such reasonable changes of
          construction as the Administrative Agent may from time to time specify to be
          appropriate to reflect the adoption of the Euro by any member state of the
          European Union and any relevant market conventions or practices relating to the
          Euro or any other Foreign Currency.  

36 

ARTICLE II  

The Credits 

        SECTION
2.01.    Commitments. (a) Subject to the terms and conditions
set forth herein, each Lender severally agrees to make revolving Loans denominated in
Dollars and Foreign Currencies to the Borrowers from time to time during the Availability
Period in an aggregate principal amount that will not result in (i) such Lender’s
Revolving Credit Exposure exceeding such Lender’s Revolving Commitment, (ii) the sum
of the total Revolving Credit Exposures exceeding the total Revolving Commitments, (iii) the
Dollar Equivalent of the aggregate amount of all Revolving Loans, Letters of Credit,
Alternate Currency Loans and Swingline Loans denominated in Foreign Currency exceeding
$300,000,000 or (iv) the Dollar Equivalent of the aggregate amount of all Revolving
Loans and Alternate Currency Loans to Subsidiary Borrowers exceeding $300,000,000. Within
the foregoing limits and subject to the terms and conditions set forth herein, the
Borrowers may borrow, prepay and reborrow Revolving Loans.  

        (b)                 Subject
to the terms and conditions set forth herein, each Lender agrees to make           one or
more Term A Loans denominated entirely either in Dollars or in a single           Foreign
Currency to the Borrower during the Availability Period in an aggregate
          principal amount that will not result in (i) such Lender’s Term A Loan
          exceeding such Lender’s Term A Commitment or (ii) the sum of the Term A
          Loans exceeding the total Term A Commitments. No amount of the Term A Loan
which           is repaid or prepaid by the Borrower may be reborrowed hereunder.  

        (c)                 Subject
to the terms and conditions set forth herein, each Lender agrees to make           one or
more Term Y Loans denominated in Dollars to the Borrower during the
          Availability Period in an aggregate principal amount that will not result in
(i)           such Lender’s Term Y Loan exceeding such Lender’s Term Y
Commitment or           (ii) the sum of the Term Y Loans exceeding the total Term Y
Commitments. No           amount of the Term Y Loan which is repaid or prepaid by the
Borrower may be           reborrowed hereunder.  

        (d)                 Subject
to the terms and conditions set forth herein, each Lender agrees to make           one or
more Term X Loans denominated in Dollars to the Borrower during the
          Availability Period in an aggregate principal amount that will not result in
(i)           such Lender’s Term X Loan exceeding such Lender’s Term X
Commitment or           (ii) the sum of the Term X Loans exceeding the total Term X
Commitments. No           amount of the Term X Loan which is repaid or prepaid by the
Borrower may be           reborrowed hereunder.  

        SECTION
2.02.    Loans and Borrowings. (a) Each Revolving Loan shall
be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably
in accordance with their respective Revolving Commitments. Each Term A Loan shall be made
as part of a Borrowing consisting of Term A Loans made by the Lenders ratably in
accordance with their respective Term A Commitments. Each Term Y Loan shall be made as
part of a Borrowing consisting of Term Y Loans made by the Lenders ratably in accordance
with their respective Term Y Commitments. Each Term X Loan shall be made as part of a
Borrowing consisting of Term X Loans made by the Lenders ratably in accordance with their
respective Term X Commitments. The failure of any Lender to make any Loan required to be
made by it shall not relieve any other Lender of its obligations hereunder; provided that
the Commitments of the Lenders are several and no Lender shall be responsible for any
other Lender’s failure to make Loans as required.  

37 

        (b)              Subject
to Section 2.15, (i) each Borrowing denominated in Dollars shall be           comprised
entirely of ABR Loans or Eurocurrency Loans as the Borrower may           request in
accordance herewith and (ii) each Revolving Borrowing denominated in           a Foreign
Currency shall be comprised entirely of Eurocurrency Loans. Each           Swingline
Dollar Loan shall be an ABR Loan and each Swingline Foreign Currency           Loan shall
bear interest at such rate agreed to between the Borrower and the           Swingline
Lender. Each Term Loan shall be in an amount that is not less than the           lesser
of $10,000,000 and the unused Term Commitment of the applicable Class of           Term
Loan. Each Lender at its option may make any Eurocurrency Loan by causing           any
domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that
any exercise of such option shall not affect the obligation           of the Borrower to
repay such Loan in accordance with the terms of this           Agreement.  

        (c)              At
the commencement of each Interest Period for any Eurocurrency Revolving
          Borrowing, such Borrowing shall be in an aggregate amount that is an integral
          multiple of $500,000 and not less than $2,000,000. At the time that each ABR
          Revolving Borrowing is made, such Borrowing shall be in an aggregate amount
that           is an integral multiple of $250,000 and not less than $1,000,000; provided that
an ABR Revolving Borrowing may be in an aggregate amount           that is equal to the
entire unused balance of the total Revolving Commitments or           that is required to
finance the reimbursement of an LC Disbursement as           contemplated by Section
2.06(e). Each Swingline Loan shall be in an amount that           is an integral multiple
of $100,000 and not less than $500,000 (or in the case           of a Swingline Loan
denominated in Euros not less than $1,000,000). Borrowings           of more than one
Type and Class may be outstanding at the same time; provided that there shall not
at any time be more than a total of 8           Eurocurrency Revolving Borrowings
outstanding.  

        (d)              Notwithstanding
any other provision of this Agreement, the Borrower shall not be           entitled to
request, or to elect to convert or continue, any Borrowing if the           Interest
Period requested with respect thereto would end after the Term A           Maturity Date,
Term Y Maturity Date, Term X Maturity Date or Revolving Maturity           Date, as
applicable.  

        (e)              Notwithstanding
any other provision of this Agreement, each Lender at its option           may make any
ABR Loan or Eurocurrency Loan by causing any domestic or foreign           office, branch
or Affiliate of such Lender (an “Applicable Lending           Installation”)
to make such Loan that has been designated by such           Lender to the Administrative
Agent. All terms of this Agreement shall apply to           any such Applicable Lending
Installation of such Lender and the Loans and any           Notes issued hereunder shall
be deemed held by each Lender for the benefit of           any such Applicable Lending
Installation. Each Lender may, by written notice to           the Administrative Agent
and the Borrower, designate replacement or additional           Applicable Lending
Installations through which Loans will be made by it and for           whose account Loan
payments are to be made.  

38 

        SECTION
2.03.    Requests for Borrowings. To request a Borrowing
(other than a Swingline Loan), the Borrower shall notify the Administrative Agent of such
request in writing (a) in the case of a Eurocurrency Borrowing denominated in Dollars,
not later than 12:00 noon, New York City time, three Business Days before the date of the
proposed Borrowing, (b) in the case of a Eurocurrency Borrowing denominated in a currency
other than Dollars, not later than 12:00 noon, New York City time, four Business Days
before the date of the proposed Borrowing or (c) in the case of an ABR Borrowing, not
later than 11:00 a.m., New York City time, one Business Day before the date of the
proposed Borrowing; provided that any such notice of an ABR Revolving Borrowing to
finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e) may be
given not later than 10:00 a.m., New York City time, on the date of the proposed
Borrowing. Each such Borrowing Request shall be irrevocable and shall be in a form
approved by the Administrative Agent and signed by the Borrower. Each such written
Borrowing Request shall specify the following information in compliance with Section
2.02:  

	 	        (i)
       the identity of the Applicable Borrower;  

	 	        (ii)
       the aggregate amount of the requested
Borrowing;  

	 	        (iii)
       the Class of such Borrowing;  

	 	        (iv)
       the currency (which may be Dollars or, if
applicable, a Foreign Currency) in                which such Borrowing is to be
denominated;  

	 	        (v)
       the date of such Borrowing, which shall be a
Business Day;  

	 	        (vi)
       in the case of a Borrowing denominated in
Dollars, whether such Borrowing is to                be an ABR Borrowing or a
Eurocurrency Borrowing;  

	 	        (vii)
       in the case of a Eurocurrency Borrowing, the
initial Interest Period to be                applicable thereto, which shall be a period
contemplated by clause (a) of the                definition of the term “Interest
Period”; and  

	 	        (viii)
       the location and number of the Applicable
Borrower’s account to which funds                are to be disbursed, which shall
comply with the requirements of Section 2.07.  

If no election as to the Type of such
Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing, unless
such Borrowing is denominated in a Foreign Currency, in which case such Borrowing shall be
a Eurocurrency Borrowing. If no Interest Period is specified with respect to any requested
Eurocurrency Borrowing, then the Borrower shall be deemed to have selected an Interest
Period of one month’s duration. Promptly following receipt of a Borrowing Request in
accordance with this Section, the Administrative Agent shall advise each Lender of the
details thereof and of the amount of such Lender’s Loan to be made as part of the
requested Borrowing. 

        SECTION
2.04.    Alternate Currency Loans. (a) Subject to the terms
and conditions set forth herein, each Alternate Currency Lender agrees to make revolving
Loans denominated in Foreign Currency to the Borrowers from time to time during the
Availability Period, in an aggregate principal amount at any time outstanding that will
not result in (i) other than in the case of the Alternate Currency Fronting Lender, such
Lender’s Revolving Credit Exposure exceeding such Lender’s Revolving
Commitment, (ii) the sum of the total Revolving Credit Exposures exceeding the total
Revolving Commitments, (iii) the Dollar Equivalent of the aggregate amount of all
Revolving Loans, Letters of Credit, Swingline Loans and Alternate Currency Loans
denominated in Foreign Currency exceeding $300,000,000 or (iv) the Dollar
Equivalent of the aggregate amount of all Revolving Loans and Alternate Currency Loans to
Subsidiary Borrowers exceeding $300,000,000. Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay
and reborrow Alternate Currency Loans.  

39 

        (b)                 Each
Alternate Currency Loan shall be made as part of a Borrowing consisting of
          Alternate Currency Loans made by the applicable Alternate Currency Lenders,
with           the Alternate Currency Loan of each Alternate Currency Lender (other than
the           Alternate Currency Fronting Lender) being in an amount equal to its
Applicable           Revolver Percentage of the applicable Borrowing and the Alternate
Currency Loan           of the Alternate Currency Fronting Lender being in an amount
equal to the           aggregate amount of such Borrowing less the aggregate amount of
the Alternate           Currency Loans being made by the other Alternate Currency Lenders
and comprising           part of such Borrowing. The Alternate Currency Loans shall be
Eurocurrency           Loans. The principal of and interest on each Alternate Currency
Borrowing shall           be paid in the applicable currency for such Alternate Currency
Borrowing and           shall be paid to the Administrative Agent for the ratable
(relative to Loans           made as a part of such Borrowing) account of the Alternate
Currency Lenders.           Each Alternate Currency Borrowing and continuation thereof
shall be in a minimum           aggregate amount reasonably acceptable to the
Administrative Agent and the           Alternate Currency Fronting Lender.  

        (c)                 To
request an Alternate Currency Loan, the Borrower shall notify the
          Administrative Agent of such request in writing, not later than 11:00 a.m.,
          London time, four (or, if so requested by the Alternate Currency Fronting
Lender           with respect to Alternate Currency Loans in a specified currency, five)
Business           Days before the date of the proposed Alternate Currency Loan. Each
such notice           shall be irrevocable and shall specify (i) the identity of the
Applicable           Borrower, (ii) the requested date (which shall be a Business Day),
(iii) the           Foreign Currency in which such Alternate Currency Loan is to be
denominated,           (iv) the amount of the requested Alternate Currency Loan, and (v)
the Interest           Period requested to be applicable thereto, which shall be a period
contemplated           by clause (a) of the definition of the term “Interest Period”.
The           Administrative Agent will promptly advise the applicable Alternate Currency
          Lenders of any such notice received from the Borrower.  

        (d)                 The
applicable Alternate Currency Lenders shall make each Alternate Currency           Loan
to be made by them hereunder on the proposed date thereof by wire transfer           of
immediately available funds by 3:00 p.m., Local Time, to the account of the
          Administrative Agent most recently designated by it for such purpose by notice
          to the applicable Alternate Currency Lenders. The Administrative Agent will
make           such Alternate Currency Loans available to the Applicable Borrower by
promptly           crediting the amounts so received, in like funds, to an account of the
          Applicable Borrower designated by the Borrower in the applicable Borrowing
          Request and acceptable to the Administrative Agent.  

        (e)                 Except
as the Applicable Borrower and the applicable Alternate Currency Lenders           may
otherwise agree, Alternate Currency Loans may, at the conclusion of the
          Interest Period applicable thereto, be continued in the manner (to the extent
          applicable) set forth in Section 2.08 with respect to Revolving Loan
Borrowings.           If the Applicable Borrower fails to either repay an Alternate
Currency Loan on           or before the last day of the applicable Interest Period or
deliver a timely           continuation request as set forth in Section 2.08(b), the
applicable Borrowing           shall be continued with an Interest Period of one month’s
duration           commencing on the last day of the expiring Interest Period.  

40 

        (f)                 The
Alternate Currency Fronting Lender irrevocably agrees to grant and hereby
          grants to each Participating Lender and, to induce the Alternate Currency
          Fronting Lender to make Alternate Currency Loans hereunder, each Participating
          Lender irrevocably agrees to accept and purchase and hereby accepts and
          purchases from the Alternate Currency Fronting Lender, on the terms and
          conditions set forth below, for such Lender’s own account and risk, an
          undivided risk participation interest equal to such Participating Lender’s
          Applicable Participation Percentage of the Alternate Currency Fronting
          Lender’s obligations and rights in respect of each Alternate Currency Loan
          made by or assigned to the Alternate Currency Fronting Lender hereunder as to
          which such Lender is a Participating Lender. Each Participating Lender
          unconditionally and irrevocably agrees with the Alternate Currency Fronting
          Lender that if any amount in respect of the principal, interest or fees owing
to           the Alternate Currency Fronting Lender in respect of an applicable Alternate
          Currency Loan is not paid when due in accordance with the terms of this
          Agreement, such Participating Lender shall pay to the Alternate Currency
          Fronting Lender upon demand an amount in Dollars (with the Dollar Equivalent of
          the unpaid amount of such Alternate Currency Loan to be calculated by the
          Administrative Agent) equal to such Lender’s Applicable Participation
          Percentage of such unpaid amount. Each Participating Lender acknowledges and
          agrees that its payment obligation pursuant to this paragraph is absolute and
          unconditional and shall not be affected by any circumstance whatsoever,
          including the occurrence and continuance of a Default or reduction or
          termination of the Commitments, and that each such payment shall be made
without           any offset, abatement, withholding or reduction whatsoever. If the
Alternate           Currency Fronting Lender accepts an assignment pursuant to Section
9.04(b) of           one or more Alternate Currency Loans, the Applicable Participation
Percentages           of the Participating Lenders with respect to such Loans will be
adjusted as           applicable immediately upon such assignment taking effect.  

        (g)                 If
any amount required to be paid by any Participating Lender to the Alternate
          Currency Fronting Lender pursuant to this Section 2.04 is not made available to
          the Alternate Currency Fronting Lender when due, such Participating Lender
shall           pay to the Alternate Currency Fronting Lender, on demand, such amount
with           interest thereon at a rate equal to the greater of the daily average
Federal           Funds Effective Rate and a rate determined by the Administrative Agent
in           accordance with banking industry rules on interbank compensation for the
period           until such Lender makes such amount immediately available to the
Alternate           Currency Fronting Lender. If such amount is not made available to the
Alternate           Currency Fronting Lender by such Participating Lender within three
Business Days           of such due date, the Alternate Currency Fronting Lender shall
also be entitled           to recover such amount with interest thereon at the rate per
annum applicable to           ABR Loans, on demand. A certificate of the Alternate
Currency Fronting Lender           submitted to any Lender with respect to any amounts
owing under this Section           2.04 shall be conclusive in the absence of manifest
error.  

41 

        (h)                 Whenever,
at any time after the Alternate Currency Fronting Lender has received           from any
Participating Lender the full amount owing by such Lender pursuant to           and in
accordance with this Section 2.04 in respect of any Alternate Currency           Loan,
the Alternate Currency Fronting Lender receives any payment related to           such
Alternate Currency Loan (whether directly from any Borrower or otherwise,
          including proceeds of collateral applied thereto by the Alternate Currency
          Fronting Lender or the Administrative Agent, on behalf of the Alternate
Currency           Fronting Lender), or any payment of interest on account thereof, the
Alternate           Currency Fronting Lender will distribute to such Participating Lender
its pro           rata share thereof (and hereby directs the Administrative Agent to
remit such           pro rata share to such Lender out of any such payment received by
the           Administrative Agent for the account of the Alternate Currency Fronting
Lender).  

        (i)                 If
any payment received by the Alternate Currency Fronting Lender pursuant to           this
Section 2.04 with respect to any Alternate Currency Loan made by it shall           be
required to be returned by the Alternate Currency Fronting Lender, each
          Participating Lender with respect to such Loan shall pay to the Alternate
          Currency Fronting Lender its Applicable Participation Percentage thereof.  

        (j)                 All
outstanding Alternate Currency Loans shall be due and payable, to the extent
          not previously paid in accordance with the terms hereof, on the Revolving
          Maturity Date.  

        (k)                 Following
the date on which any risk participation with respect to an Alternate           Currency
Loan is converted to Dollars pursuant to Section 2.04(f), all amounts           payable
in connection with such risk participation shall be denominated in           Dollars for
all purposes.  

        (l)                 At
the request of the Borrower, and with the consent of the applicable Lender(s)
          (which may be withheld by any Lender in its sole discretion), one or more
          Lenders in addition to JPMorgan shall be deemed to be Alternate Currency
Lenders           with respect to Alternate Currency Loans proposed to be made to a
specified           Subsidiary Borrower. The Lenders set forth on Schedule 2.04 hereto
have been           requested to act and designated by the Borrower as, and agreed (which
agreement           is hereby confirmed) to act as, Alternate Currency Lenders with
respect to           Alternate Currency Loans to be made to BPGR and to Manitowoc Asia
Holdings. Any           Alternate Currency Lender may comply with its obligations as such
by causing an           Applicable Lending Installation to perform such obligations as
contemplated by           Section 2.02(e), and the terms of this Agreement shall be
applicable to such           Applicable Lending Installation as set forth in Section
2.02(e).  

        (m)                 In
the event that any Lender acting as an Alternate Currency Lender pursuant to
          Section 2.04(l) makes an assignment pursuant to Section 9.04(b) of all or a
part           of its Commitment to a Lender which determines in good faith and notifies
the           Administrative Agent that lending to the applicable Subsidiary Borrower
would be           illegal, impossible or impracticable for such Lender or would result
in costs or           expenses for which such Lender would not be indemnified by the
Subsidiary           Borrower or the Borrower pursuant hereto, then (i) the applicable
assignee           Lender shall not be an Alternate Currency Lender with respect to such
Subsidiary           Borrower and (ii) at the written request of the assignee Lender made
at least           five (5) Business Days prior to the date of the proposed assignment,
the           Borrower shall cause all Alternate Currency Loans outstanding to the
applicable           Subsidiary Borrower to be repaid in full prior to or substantially
          contemporaneously with the making of such assignment (it being understood that,
          following or contemporaneously with such repayment, the applicable Subsidiary
          Borrower shall, subject to the other terms and conditions hereof, be entitled
to           reborrow such Alternate Currency Loans from the remaining applicable
Alternate           Currency Lenders); provided that in the event the Alternate
Currency           Fronting Lender in its sole discretion accepts an assignment of such
assigning           Lender’s Alternate Currency Loans to such Subsidiary Borrower,
the           repayment described in this clause (ii) shall not be required.  

42 

        SECTION
2.05.    Swingline Loans. (a) Subject to the terms and
conditions set forth herein, the Swingline Lender agrees to make Swingline Loans in
Dollars or in a Foreign Currency to the Borrower from time to time during the
Availability Period, in an aggregate principal amount at any time outstanding that will
not result in (i) the Dollar Equivalent of the aggregate principal amount of outstanding
Swingline Loans exceeding $35,000,000, (ii) the sum of the total Revolving Credit
Exposures exceeding the total Revolving Commitments, or (iii) the Dollar Equivalent of
the aggregate amount of all Revolving Loans, Letters of Credit, Swingline Loans and
Alternate Currency Loans denominated in a Foreign Currency exceeding $300,000,000; provided that
the Swingline Lender shall not be required to make a Swingline Loan to refinance an
outstanding Swingline Loan. Within the foregoing limits and subject to the terms and
conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline
Loans.  

        (b)              To
request a Swingline Loan, the Borrower shall notify the Administrative Agent           of
such request in writing, not later than 2:00 p.m., New York City time, on the
          day of a proposed Swingline Loan in the case of Swingline Loans denominated in
          Dollars and not later than 10:00 a.m., Local Time on the day of any other
          proposed Swingline Loan. Each such notice shall be irrevocable and shall
specify           (i) the requested date (which shall be a Business Day), (ii) whether
such           Swingline Loan is to be denominated in Dollars or in a Foreign Currency,
(iii)           the amount of the requested Swingline Loan, and (iv) in the case of a
Swingline           Borrowing denominated in a Foreign Currency, the Interest Period
requested to be           applicable thereto, which shall be a period contemplated by
clause (b) of the           definition of the term “Interest Period.” The
Administrative Agent           will promptly advise the Swingline Lender of any such
notice received from the           Borrower. The Swingline Lender and the Borrower shall
agree upon the interest           rate applicable to any Swingline Foreign Currency Loan,
provided that if           such agreement cannot be reached prior to 1:00 p.m.,
Local Time, on the day of           such Swingline Foreign Currency Loan then such
Swingline Foreign Currency Loan           shall not be made. The Swingline Lender shall
make each Swingline Loan available           to the Borrower by means of a credit to the
general deposit account of the           Borrower with the Swingline Lender (or, in the
case of (x) a Swingline Loan made           to finance the reimbursement of an LC
Disbursement as provided in Section           2.06(e), by remittance to the Issuing Bank
or (y) a Swingline Foreign Currency           Loan, to such deposit account as the
Borrower shall identify to the Swingline           Lender) by 3:00 p.m., Local Time, on
the requested date of such Swingline Loan.  

43 

        (c)              The
Swingline Lender may by written notice given to the Administrative Agent not
          later than 10:00 a.m., Local Time, on any Business Day require the Lenders to
          acquire participations on such Business Day in all or a portion of the
Swingline           Loans outstanding. Such notice shall specify the aggregate amount of
Swingline           Loans in which Lenders will participate, and such amount of Swingline
Loans, if           denominated in Foreign Currency, shall be converted to Dollars and
shall bear           interest at the Alternate Base Rate (or such lower rate to which the
Borrower           and Swingline Lender may agree). Promptly upon receipt of such notice,
the           Administrative Agent will give notice thereof to each Lender, specifying in
such           notice such Lender’s Applicable Revolver Percentage of such Swingline
Loan           or Loans. Each Lender hereby absolutely and unconditionally agrees, upon
receipt           of notice as provided above, to pay to the Administrative Agent, for
the account           of the Swingline Lender, such Lender’s Applicable Revolver
Percentage of           such Swingline Loan or Loans. Each Lender acknowledges and agrees
that its           obligation to acquire participations in Swingline Loans pursuant to
this           paragraph is absolute and unconditional and shall not be affected by any
          circumstance whatsoever, including the occurrence and continuance of a Default
          or reduction or termination of the Commitments, and that each such payment
shall           be made without any offset, abatement, withholding or reduction
whatsoever. Each           Lender shall comply with its obligation under this paragraph
by wire transfer of           immediately available funds, in the same manner as provided
in Section 2.07 with           respect to Loans made by such Lender (and Section 2.07
shall apply, mutatis mutandis, to the payment obligations of the Lenders),
and           the Administrative Agent shall promptly pay to the Swingline Lender the
amounts           so received by it from the Lenders. The Administrative Agent shall
notify the           Borrower of any participations in any Swingline Loan acquired
pursuant to this           paragraph, and thereafter payments in respect of such
Swingline Loan shall be           made to the Administrative Agent and not to the
Swingline Lender. Any amounts           received by the Swingline Lender from the
Borrower (or other party on behalf of           the Borrower) in respect of a Swingline
Loan after receipt by the Swingline           Lender of the proceeds of a sale of
participations therein shall be promptly           remitted to the Administrative Agent;
any such amounts received by the           Administrative Agent shall be promptly
remitted by the Administrative Agent to           the Lenders that shall have made their
payments pursuant to this paragraph and           to the Swingline Lender, as their
interests may appear; provided that any           such payment so remitted shall
be repaid to the Swingline Lender or to the           Administrative Agent, as
applicable, if and to the extent such payment is           required to be refunded to the
Borrower for any reason. The purchase of           participations in a Swingline Loan
pursuant to this paragraph shall not relieve           the Borrower of any default in the
payment thereof. Notwithstanding the           foregoing, a Lender shall not have any
obligation to acquire a participation in           a Swingline Loan pursuant to this
paragraph if an Event of Default shall have           occurred and be continuing at the
time such Swingline Loan was made and such           Lender shall have notified the
Swingline Lender in writing, at least one           Business Day prior to the time such
Swingline Loan was made, that such Event of           Default has occurred and that such
Lender will not acquire participations in           Swingline Loans made while such Event
of Default is continuing.  

        SECTION
2.06.    Letters of Credit. (a) General. Subject to the
terms and conditions set forth herein, the Borrower may request the issuance by an
Issuing Bank of Letters of Credit in Dollars or in a Foreign Currency for its own account
or that of a Subsidiary Borrower, in a form reasonably acceptable to the Administrative
Agent and the Issuing Bank, at any time and from time to time during the Availability
Period. In the event of any inconsistency between the terms and conditions of this
Agreement and the terms and conditions of any form of letter of credit application or
other agreement submitted by the Borrower to, or entered into by the Applicable Borrower
with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this
Agreement shall control.  

44 

        (b)    Notice
of Issuance, Amendment, Renewal, Extension; Certain Conditions. To           request
the issuance of a Letter of Credit (or the amendment, renewal or           extension of
an outstanding Letter of Credit), the Borrower shall hand deliver           or telecopy
(or transmit by electronic communication, if arrangements for doing           so have
been approved by the Issuing Bank) to the Issuing Bank and the           Administrative
Agent (reasonably in advance of the requested date of issuance,           amendment,
renewal or extension) a notice requesting the issuance of a Letter of           Credit,
or identifying the Letter of Credit to be amended, renewed or extended,           and
specifying which of the Borrowers shall be the account party with respect
          thereto, the date of issuance, amendment, renewal or extension (which shall be
a           Business Day), the date on which such Letter of Credit is to expire (which
shall           comply with paragraph (c) of this Section), the amount of such Letter of
Credit,           the name and address of the beneficiary thereof and such other
information as           shall be necessary to prepare, amend, renew or extend such
Letter of Credit. If           requested by the Issuing Bank, the Applicable Borrower
also shall submit a           letter of credit application on the Issuing Bank’s
standard form in           connection with any request for a Letter of Credit. A Letter
of Credit shall be           issued, amended, renewed or extended only if (and upon
issuance, amendment,           renewal or extension of each Letter of Credit the Borrower
shall be deemed to           represent and warrant that), after giving effect to such
issuance, amendment,           renewal or extension (i) the LC Exposure shall not exceed
$200,000,000,           (ii) the sum of the total Revolving Credit Exposures shall
not exceed the           total Revolving Commitments, and (iii) the Dollar
Equivalent of the           aggregate amount of all Revolving Loans, Letters of Credit,
Swingline Loans and           Alternate Currency Loans denominated in Foreign Currency
shall not exceed $300,000,000; (iv) the Dollar Equivalent of the amount of all LC
Exposure           with respect to Letters of Credit issued for the account of Subsidiary
Borrowers           shall not exceed $100,000,000; and (v) the Dollar Equivalent of the
aggregate LC           Exposure associated with the Letters of Credit issued by the
applicable Issuing           Bank shall not exceed $75,000,000 without the consent of
such Issuing Bank.  

        (c)    Expiration
Date. Each Letter of Credit shall expire at or prior to the           close of
business on the earlier of (i) the date one year after the date of the           issuance
of such Letter of Credit (or, in the case of any renewal or extension           thereof,
one year after such renewal or extension) and (ii) the date that is           five
Business Days prior to the Revolving Maturity Date.  

        (d)    Participations.
By the issuance of a Letter of Credit (or an amendment to           a Letter of Credit
increasing the amount thereof) and without any further action           on the part of
the Issuing Bank or the Lenders, the Issuing Bank hereby grants           to each Lender,
and each Lender hereby acquires from the Issuing Bank, a           participation in such
Letter of Credit equal to such Lender’s Applicable           Revolver Percentage of
the aggregate amount available to be drawn under such           Letter of Credit. In
consideration and in furtherance of the foregoing, each           Lender hereby
absolutely and unconditionally agrees to pay to the Administrative           Agent, for
the account of the Issuing Bank, such Lender’s Applicable           Revolver
Percentage of each LC Disbursement made by the Issuing Bank and not           reimbursed
by the Applicable Borrower on the date due as provided in paragraph           (e) of this
Section, or of any reimbursement payment required to be refunded to           the
Applicable Borrower for any reason. Each Lender acknowledges and agrees that
          its obligation to acquire participations pursuant to this paragraph in respect
          of Letters of Credit is absolute and unconditional and shall not be affected by
          any circumstance whatsoever, including any amendment, renewal or extension of
          any Letter of Credit or the occurrence and continuance of a Default or
reduction           or termination of the Commitments, and that each such payment shall
be made           without any offset, abatement, withholding or reduction whatsoever.  

45 

        (e)    Reimbursement.
If the Issuing Bank shall make any LC Disbursement in           respect of a Letter of
Credit, the Borrower shall reimburse such LC Disbursement           by paying to the
Administrative Agent an amount equal to such LC Disbursement           not later than
12:00 noon, New York City time, on the date that such LC           Disbursement is made,
if the Borrower shall have received notice of such LC           Disbursement prior to
10:00 a.m., New York City time, on such date, or, if such           notice has not been
received by the Borrower prior to such time on such date,           then not later than
12:00 noon, New York City time, on (i) the Business Day that           the Borrower
receives such notice, if such notice is received prior to 10:00           a.m., New York
City time, on the day of receipt, or (ii) the Business Day           immediately
following the day that the Borrower receives such notice, if such           notice is not
received prior to such time on the day of receipt; provided          that the
Borrower may, subject to the conditions to borrowing set forth herein,           request
in accordance with Section 2.03 or 2.05 that such payment be financed           with an
ABR Revolving Borrowing or Swingline Loan in an equivalent amount and,           to the
extent so financed, the Borrower’s obligation to make such payment           shall
be discharged and replaced by the resulting ABR Revolving Borrowing or
          Swingline Loan. If the Applicable Borrower fails to make such payment when due,
          such amount, if denominated in Foreign Currency, shall be converted to Dollars
          and shall bear interest at the Alternate Base Rate and the Administrative Agent
          shall notify each Lender of the applicable LC Disbursement, the payment then
due           from the Applicable Borrower in respect thereof and such Lender’s
          Applicable Revolver Percentage thereof. Promptly following receipt of such
          notice, each Lender shall pay to the Administrative Agent its Applicable
          Revolver Percentage of the payment then due from the Applicable Borrower, in
the           same manner as provided in Section 2.07 with respect to Loans made by such
          Lender (and Section 2.07 shall apply, mutatis mutandis, to the
          payment obligations of the Lenders), and the Administrative Agent shall
promptly           pay to the Issuing Bank the amounts so received by it from the
Lenders. Promptly           following receipt by the Administrative Agent of any payment
from the Applicable           Borrower pursuant to this paragraph, the Administrative
Agent shall distribute           such payment to the Issuing Bank or, to the extent that
Lenders have made           payments pursuant to this paragraph to reimburse the Issuing
Bank, then to such           Lenders and the Issuing Bank as their interests may appear.
Any payment made by           a Lender pursuant to this paragraph to reimburse the
Issuing Bank for any LC           Disbursement (other than the funding of ABR Revolving
Loans or a Swingline Loan           as contemplated above) shall not constitute a Loan
and shall not relieve the           Applicable Borrower of its obligation to reimburse
such LC Disbursement.  

46 

        (f)    Obligations
Absolute. The Applicable Borrower’s obligation to           reimburse LC
Disbursements as provided in paragraph (e) of this Section shall be           absolute,
unconditional and irrevocable, and shall be performed strictly in           accordance
with the terms of this Agreement under any and all circumstances           whatsoever and
irrespective of (i) any lack of validity or enforceability of any           Letter of
Credit or this Agreement, or any term or provision therein, (ii) any           draft or
other document presented under a Letter of Credit proving to be forged,
          fraudulent or invalid in any respect or any statement therein being untrue or
          inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of
          Credit against presentation of a draft or other document that does not comply
          with the terms of such Letter of Credit, or (iv) any other event or
circumstance           whatsoever, whether or not similar to any of the foregoing, that
might, but for           the provisions of this Section, constitute a legal or equitable
discharge of, or           provide a right of set-off against, the Applicable Borrower’s
obligations           hereunder. Neither the Administrative Agent, the Lenders nor the
Issuing Bank,           nor any of their Related Parties, shall have any liability or
responsibility by           reason of or in connection with the issuance or transfer of
any Letter of Credit           or any payment or failure to make any payment thereunder
(irrespective of any of           the circumstances referred to in the preceding
sentence), or any error,           omission, interruption, loss or delay in transmission
or delivery of any draft,           notice or other communication under or relating to
any Letter of Credit           (including any document required to make a drawing
thereunder), any error in           interpretation of technical terms or any consequence
arising from causes beyond           the control of the Issuing Bank; provided that
the foregoing shall not be           construed to excuse the Issuing Bank from liability
to the Applicable Borrower           to the extent of any direct damages (as opposed to
consequential damages, claims           in respect of which are hereby waived by the
Applicable Borrower to the extent           permitted by applicable law) suffered by the
Applicable Borrower that are caused           by the Issuing Bank’s failure to
exercise care when determining whether           drafts and other documents presented
under a Letter of Credit comply with the           terms thereof. The parties hereto
expressly agree that, in the absence of gross           negligence or willful misconduct
on the part of the Issuing Bank (as finally           determined by a court of competent
jurisdiction), the Issuing Bank shall be           deemed to have exercised care in each
such determination. In furtherance of the           foregoing and without limiting the
generality thereof, the parties agree that,           with respect to documents presented
which appear on their face to be in           substantial compliance with the terms of a
Letter of Credit, the Issuing Bank           may, in its sole discretion, either accept
and make payment upon such documents           without responsibility for further
investigation, regardless of any notice or           information to the contrary, or
refuse to accept and make payment upon such           documents if such documents are not
in strict compliance with the terms of such           Letter of Credit.  

        (g)    Disbursement
Procedures. The Issuing Bank shall, promptly following its           receipt thereof,
examine all documents purporting to represent a demand for           payment under a
Letter of Credit. The Issuing Bank shall promptly notify the           Administrative
Agent and the Borrower by telephone (confirmed by telecopy) of           such demand for
payment and whether the Issuing Bank has made or will make an LC           Disbursement
thereunder; provided that any failure to give or delay in           giving such
notice shall not relieve the Applicable Borrower of its obligation           to reimburse
the Issuing Bank and the Lenders with respect to any such LC           Disbursement.  

        (h)    Interim
Interest. If the Issuing Bank shall make any LC Disbursement,           then, unless
the Applicable Borrower shall reimburse such LC Disbursement in           full on the
date such LC Disbursement is made, the unpaid amount thereof shall           bear
interest, for each day from and including the date such LC Disbursement is           made
to but excluding the date that the Borrower reimburses such LC           Disbursement, at
the rate per annum then applicable to ABR Revolving Loans; provided that, if the
Applicable Borrower fails to reimburse such LC           Disbursement when due pursuant
to paragraph (e) of this Section, then Section           2.14(d) shall apply. Interest
accrued pursuant to this paragraph shall be for           the account of the Issuing
Bank, except that interest accrued on and after the           date of payment by any
Lender pursuant to paragraph (e) of this Section to           reimburse the Issuing Bank
shall be for the account of such Lender to the extent           of such payment.  

47 

        (i)    Replacement
of an Issuing Bank. An Issuing Bank may be replaced at any           time by written
agreement among the Borrower, the Administrative Agent, the           replaced Issuing
Bank and the successor Issuing Bank. The Administrative Agent           shall notify the
Lenders of any such replacement of an Issuing Bank. At the time           any such
replacement shall become effective, the Borrower shall pay all unpaid           fees
accrued for the account of the replaced Issuing Bank pursuant to Section
          2.13(b). From and after the effective date of any such replacement, (i) the
          successor Issuing Bank shall have all the rights and obligations of the Issuing
          Bank under this Agreement with respect to Letters of Credit to be issued
          thereafter and (ii) references herein to the term “Issuing Bank” shall
          be deemed to refer to such successor or to any previous Issuing Bank, or to
such           successor and all previous Issuing Banks, as the context shall require.
After           the replacement of an Issuing Bank hereunder, the replaced Issuing Bank
shall           remain a party hereto and shall continue to have all the rights and
obligations           of an Issuing Bank under this Agreement with respect to Letters of
Credit issued           by it prior to such replacement, but shall not be required to
issue additional           Letters of Credit.  

        (j)    Cash
Collateralization. If any Event of Default shall occur and be           continuing,
on the Business Day that the Borrower receives notice from the           Administrative
Agent or the Required Lenders (or, if the maturity of the Loans           has been
accelerated, Lenders with LC Exposure representing greater than 51% of           the
total LC Exposure) demanding the deposit of cash collateral pursuant to this
          paragraph, the Borrower shall deposit in an account with the Administrative
          Agent, in the name of the Administrative Agent and for the benefit of the
          Lenders, an amount in cash equal to the LC Exposure as of such date plus any
          accrued and unpaid interest thereon; provided that the obligation to
          deposit such cash collateral shall become effective immediately, and such
          deposit shall become immediately due and payable, without demand or other
notice           of any kind, upon the occurrence of any Event of Default with respect to
the           Borrower described in clause (h) or (i) of Article VII. Such deposit shall
be           held by the Administrative Agent as collateral for the payment and
performance           of the Obligations. The Administrative Agent shall have exclusive
dominion and           control, including the exclusive right of withdrawal, over such
account. Other           than any interest earned on the investment of such deposits,
which investments           shall be made at the option and sole discretion of the
Administrative Agent and           at the Borrower’s risk and expense, such deposits
shall not bear interest.           Interest or profits, if any, on such investments shall
accumulate in such           account. Moneys in such account shall be applied by the
Administrative Agent to           reimburse the Issuing Bank for LC Disbursements for
which it has not been           reimbursed and, to the extent not so applied, shall be
held for the satisfaction           of the reimbursement obligations of the Borrower for
the LC Exposure at such           time or, if the maturity of the Loans has been
accelerated (but subject to the           consent of Lenders with LC Exposure
representing greater than 51% of the total           LC Exposure), be applied to satisfy
other obligations of the Borrower under this           Agreement. If the Borrower is
required to provide an amount of cash collateral           hereunder as a result of the
occurrence of an Event of Default, such amount (to           the extent not applied as
aforesaid) shall be returned to the Borrower within           three Business Days after
all Events of Default have been cured or waived.  

        (k)    Existing
Letters of Credit. On the Initial Borrowing Date each Existing           Letter of
Credit shall be deemed to be a Letter of Credit issued hereunder on           such date
and governed in all respects by the terms and conditions of this           Agreement
(including without limitation Section 2.06(d)).  

        SECTION
2.07.    Funding of Borrowings. (a) Each Lender shall make
each Loan to be made by it hereunder on the proposed date thereof by wire transfer of
immediately available funds by 12:00 noon, Local Time, to the account of the
Administrative Agent most recently designated by it for such purpose by notice to the
Lenders; provided that Alternate Currency Loans shall be made as provided in
Section 2.04 and Swingline Loans shall be made as provided in Section 2.05. The
Administrative Agent will make such Loans available to the Applicable Borrower by
promptly crediting the amounts so received, in like funds, to an account of the
Applicable Borrower or, in the case of Subsidiary Borrowers or Loans denominated in a
Foreign Currency, in another account, in each case as designated by the Borrower in the
applicable Borrowing Request and acceptable to the Administrative Agent; provided that
ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided
in Section 2.06(e) shall be remitted by the Administrative Agent to the Issuing Bank.  

48 

        (b)              Unless
the Administrative Agent shall have received notice from a Lender prior           to the
proposed date of any Borrowing that such Lender will not make available           to the
Administrative Agent such Lender’s share of such Borrowing, the
          Administrative Agent may assume that such Lender has made such share available
          on such date in accordance with paragraph (a) of this Section and may, in
          reliance upon such assumption, make available to the Applicable Borrower a
          corresponding amount. In such event, if a Lender has not in fact made its share
          of the applicable Borrowing available to the Administrative Agent, then the
          applicable Lender and the Applicable Borrower severally agree to pay to the
          Administrative Agent forthwith on demand such corresponding amount with
interest           thereon, for each day from and including the date such amount is made
available           to the Applicable Borrower to but excluding the date of payment to
the           Administrative Agent, at (i) in the case of such Lender, (x) the greater of
the           Federal Funds Effective Rate and a rate determined by the Administrative
Agent           in accordance with banking industry rules on interbank compensation (in
the case           of a Borrowing denominated in Dollars) or (y) the rate reasonably
determined by           the Administrative Agent to be the cost to it of funding such
amount (in the           case of a Borrowing denominated in a Foreign Currency) or (ii)
in the case of           the Applicable Borrower, the interest rate applicable to ABR
Loans. If such           Lender pays such amount to the Administrative Agent, then such
amount shall           constitute such Lender’s Loan included in such Borrowing.  

        SECTION
2.08.    Interest Elections. (a) Each Revolving Borrowing and
Term Borrowing initially shall be of the Type specified in the applicable Borrowing
Request and, in the case of a Eurocurrency Borrowing, shall have an initial Interest
Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to
convert such Borrowing to a different Type, in the case of Borrowings denominated in
Dollars, or to continue such Borrowing and, in the case of a Eurocurrency Borrowing, may
elect Interest Periods therefor, all as provided in this Section. The Borrower may elect
different options with respect to different portions of the affected Borrowing, in which
case each such portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowing, and the Loans comprising each such portion shall be considered
a separate Borrowing. This Section shall not apply to Swingline Foreign Currency
Borrowings or Swingline Dollar Borrowings, which may not be converted or continued.  

        (b)
       To make an election pursuant to this Section,
the Borrower shall notify the                Administrative Agent of such election in
writing by the time that a Borrowing                Request would be required under
Section 2.03 if the Borrower were requesting a                Borrowing of the Type and
denominated in the Foreign Currency resulting from                such election to be
made on the effective date of such election. Each such                written Interest
Election Request shall be irrevocable and in a form approved by                the
Administrative Agent and signed by the Borrower.  

49 

        (c)
       Each written Interest Election Request shall
specify the following information                in compliance with Section 2.02:  

	 	        (i)
       the Borrowing to which such Interest Election
Request applies and, if different                options are being elected with respect
to different portions thereof, the                portions thereof to be allocated to
each resulting Borrowing (in which case the                information to be specified
pursuant to clauses (iii) and (iv) below shall be                specified for each
resulting Borrowing);  

	 	        (ii)
       the effective date of the election made
pursuant to such Interest Election                Request, which shall be a Business Day;  

	 	        (iii)
       whether the resulting Borrowing is to be an ABR
Borrowing or a Eurocurrency                Borrowing; and  

	 	        (iv)
       if the resulting Borrowing is a Eurocurrency
Borrowing, the Interest Period to                be applicable thereto after giving
effect to such election, which shall be a                period contemplated by the
definition of the term “Interest Period”.  

If any such Interest Election Request
requests a Eurocurrency Borrowing but does not specify an Interest Period, then the
Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

        (d)                 Promptly
following receipt of an Interest Election Request, the Administrative           Agent
shall advise each Lender of the details thereof and of such Lender’s
          portion of each resulting Borrowing.  

        (e)                 If
the Borrower fails to deliver a timely Interest Election Request with respect
          to a Eurocurrency Borrowing prior to the end of the Interest Period applicable
          thereto, then, unless such Borrowing is repaid as provided herein, at the end
of           such Interest Period such Borrowing shall be converted to an ABR Borrowing
          (unless such Borrowing is denominated in a Foreign Currency, in which case such
          Borrowing shall be continued as a Eurocurrency Borrowing with an Interest
Period           of one month’s duration commencing on the last day of such Interest
          Period). Notwithstanding any contrary provision hereof, if an Event of Default
          has occurred and is continuing and the Administrative Agent, at the request of
          the Required Lenders, so notifies the Borrower, then, so long as an Event of
          Default is continuing (i) no outstanding Borrowing may be converted to or
          continued as a Eurocurrency Borrowing, (ii) unless repaid, each Eurocurrency
          Borrowing denominated in Dollars shall be converted to an ABR Borrowing at the
          end of the Interest Period applicable thereto, and (iii) unless repaid, each
          Eurocurrency Borrowing denominated in a Foreign Currency shall be continued as
a           Eurocurrency Borrowing with an Interest Period of one month’s duration.  

        SECTION
2.09.    Termination and Reduction of Commitments; Increase of
Commitments. (a) Unless previously terminated, the Revolving Commitments shall
terminate on the Revolving Maturity Date. Unless previously terminated, the Term A
Commitments shall terminate upon the earlier of the close of business (New York time) on
November 10, 2008 (or, solely with respect to incremental Term A Commitments arising
pursuant to Section 2.09(d), upon the making of the related incremental Term A Loans) and
the date on which the aggregate amount of the Term A Borrowings made is equal to the Term
A Commitment. Unless previously terminated, the Term X Commitments shall terminate upon
the making of the Term X Loans on the Initial Borrowing Date. Unless previously
terminated, the Term Y Commitments shall terminate upon the making of the Term Y Loans on
the Initial Borrowing Date.  

50 

        (b)              The
Borrower may at any time terminate, or from time to time reduce, the
          Commitments; provided that (i) each reduction of the Commitments shall
be           in an amount that is an integral multiple of $1,000,000 and not less than
          $5,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving
          Commitments if, after giving effect to any concurrent prepayment of the
          Revolving Loans in accordance with Section 2.12, the sum of the Revolving
Credit           Exposures would exceed the total Revolving Commitments.  

        (c)              The
Borrower shall notify the Administrative Agent of any election to terminate           or
reduce the Commitments under paragraph (b) of this Section at least three
          Business Days prior to the effective date of such termination or reduction,
          specifying such election and the effective date thereof. Promptly following
          receipt of any notice, the Administrative Agent shall advise the Lenders of the
          contents thereof. Each notice delivered by the Borrower pursuant to this
Section           shall be irrevocable; provided that a notice of termination of
the           Commitments delivered by the Borrower may state that such notice is
conditioned           upon the effectiveness of other credit facilities, in which case
such notice may           be revoked by the Borrower (by notice to the Administrative
Agent on or prior to           the specified effective date) if such condition is not
satisfied. Any           termination or reduction of the Commitments shall be permanent.
Each reduction           of the Commitments shall be made ratably among the Lenders in
accordance with           their respective Revolving Commitments or Term Commitments, as
applicable.  

        (d)              The
Borrower may, at its option, on up to five occasions, seek to increase the
          Revolving Commitments and/or the Term A Commitments by up to an aggregate
amount           of $300,000,000 in a minimum amount of $10,000,000 and in integral
multiples of           $5,000,000 in excess thereof, upon at least three (3) Business Days’ prior
          written notice to the Administrative Agent, which notice shall (i) specify (a)
          the amount of any such increase and (b) whether such increase is in the
          Revolving Commitments, the Term A Commitments or a combination of any thereof,
          (ii) if any Indebtedness under the Senior Note Documents is then outstanding,
          certify that incurrence by the Borrower of Indebtedness under this Agreement in
          the full amount of the proposed increased Commitments is permitted by the
Senior           Note Documents, (iii) be delivered at a time when no Default has
occurred and is           continuing, and (iv) specify the effective date of any
Revolving Commitments or           Term A Commitments and the effective date of any
incremental Term A Loans to be           made pursuant thereto. The Borrower may, after
giving such notice, offer the           increase (which may be declined by any Lender in
its sole discretion) in the           Commitments on either a ratable basis to the
Lenders or on a non pro-rata basis           to one or more Lenders and/or to other
Lenders or entities reasonably acceptable           to the Administrative Agent. No
increase in the Commitments shall become           effective until the existing or new
Lenders extending such incremental Revolving           Commitments or Term A Commitments
and the Borrower shall have delivered to the           Administrative Agent a document in
form and substance reasonably satisfactory to           the Administrative Agent pursuant
to which each such existing Lender states the           amount of its Commitment or Loan
increase, each such new Lender becomes a party           hereto, states its Commitment or
Loan amount and agrees to assume and accept the           obligations and rights of a
Lender hereunder and the Borrower accepts such           incremental Commitments or Loans
and certifies that on such date the conditions           for a new Loan pursuant to
Section 4.03 are satisfied. In the event of an           increase in the Revolving
Commitments pursuant to this Section, the Lenders with           Revolving Commitments
(new or existing) shall accept an assignment from the           existing Lenders with
Revolving Commitments, and the existing Lenders with           Revolving Commitments
shall make an assignment to the new or existing Lenders           with Revolving
Commitments accepting a new or increased Revolving Credit           Commitment, of an
interest in each then outstanding Revolving Loan, Swingline           Loan, Letter of
Credit, LC Disbursement and Alternative Currency Loan such that,           after giving
effect thereto, all Revolving Loans, Swingline Loans, Letters of           Credit, LC
Disbursements and Alternate Currency Loans are held ratably by the           Lenders with
Revolving Commitments in proportion to their respective Revolving           Commitments.
Assignments pursuant to the preceding sentence shall be made in           exchange for
the principal amount assigned plus accrued and unpaid interest and           shall not be
subject to the assignment fee set forth in Section 9.04(b)(ii)(C).           The Borrower
shall make any payments under Section 2.17 resulting from such
          assignments. In the event of an increase in the Term A Commitments pursuant to
          this Section, each Lender accepting a portion of such increased Term A
          Commitments shall, on the effective date of the increase in such Term A
          Commitments, make a loan to the Borrower in the amount of its portion of such
          increase. Any such increase of the Revolving Commitments or Term A Commitments
          shall be subject to receipt by the Administrative Agent from the Borrower of
          such supplemental opinions, resolutions, certificates and other documents as
the           Administrative Agent may reasonably request. From and after the making of
an           incremental Term A Loan or Revolving Loan pursuant to this Section, such
Loan           shall be deemed a “Term A Loan” or “Revolving Loan”,
as           applicable, hereunder for all purposes hereof, and shall be subject to the
same           terms and conditions as each other Term A Loan or Revolving Loan made
pursuant           to this Agreement.  

51 

        SECTION
2.10.    Repayment of Loans; Evidence of Debt. (a) Each
Applicable Borrower hereby unconditionally promises to pay (i) to the Administrative
Agent for the account of each Lender the then unpaid principal amount of each of its
Revolving Loans on the Revolving Maturity Date and (ii) to the Administrative Agent for
the account of each applicable Lender the unpaid principal amount of each Term Loan of
such Lender as provided in Section 2.11, (iii) to the Alternate Currency Lenders, the
then unpaid principal amount of each of its Alternate Currency Loans on the Revolving
Maturity Date, and (iv) to the Swingline Lender the then unpaid principal amount of each
Swingline Loan on the earlier of (x) the Revolving Maturity Date and (y) a date that is
no more than seven (7) Business Days after such Swingline Loan is made; provided that
on each date that a Revolving Borrowing is made, the Borrower shall repay all Swingline
Loans then outstanding.  

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

        (c)              The
Administrative Agent shall maintain accounts in which it shall record (i)           the
amount of each Loan made hereunder, the Class and Type thereof and the           Interest
Period applicable thereto, (ii) the amount of any principal or interest           due and
payable or to become due and payable from the Borrowers to each Lender
          hereunder and (iii) the amount of any sum received by the Administrative Agent
          hereunder for the account of the Lenders and each Lender’s share thereof.  

52 

        (d)              The
entries made in the accounts maintained pursuant to paragraph (b) or (c) of
          this Section shall be prima facie evidence of the existence and
          amounts of the obligations recorded therein; provided that the failure
of           any Lender or the Administrative Agent to maintain such accounts or any
error           therein shall not in any manner affect the obligation of the Borrowers to
repay           the Loans in accordance with the terms of this Agreement.  

        (e)              Any
Lender may request that Loans made by it be evidenced by a promissory note.           In
such event, the Applicable Borrower shall prepare, execute and deliver to           such
Lender a promissory note payable to the order of such Lender (or, if           requested
by such Lender, to such Lender and its registered assigns) and in a           form
approved by the Administrative Agent. Thereafter, the Loans evidenced by           such
promissory note and interest thereon shall at all times (including after
          assignment pursuant to Section 9.04) be represented by one or more promissory
          notes in such form payable to the order of the payee named therein (or, if such
          promissory note is a registered note, to such payee and its registered
assigns).  

        (f)              In
the event and on such occasion that the aggregate Revolving Credit Exposure           of
the Lenders exceeds the aggregate Revolving Commitments of the Lenders, the
          Borrower immediately shall prepay the Loans in the amount of such excess.  

        (g)              The
Administrative Agent will determine the aggregate LC Exposure and the Dollar
          Equivalent of each Loan (other than Term Loans) on each Exchange Rate Date. If
          at any time the sum of such amounts exceeds 105% of the aggregate Revolving
          Commitments of the Lenders, the Borrower shall (or shall cause one or more
          Subsidiary Borrowers to) immediately prepay the Loans (other than Term Loans)
in           the amount of such excess. To the extent that, after the prepayment of all
Loans           (other than Term Loans) an excess of the sum of such amounts over the
aggregate           Revolving Commitments still exists, the Borrower shall (or shall
cause one or           more Subsidiary Borrowers to) promptly cash collateralize the
Letters of Credit           in the manner described in Section 2.06(j) in an amount
sufficient to eliminate           such excess.  

        SECTION
2.11.    Amortization of Term Loans. (a) Subject to adjustment
pursuant to paragraph (d) of this Section, the Borrower shall repay Term A
Borrowings on the last Business Day of each calendar quarter set forth below in the
aggregate principal amount indicated (and in addition, to the extent that any incremental
Term A Loans shall be made pursuant to Section 2.09(d), in an additional amount equal to
the corresponding amount required to be amortized with respect to the other Term A Loans
based on the initial aggregate principal amount of such incremental Term A Loans on the
last Business Day of each calendar quarter from and including the calendar quarter
immediately succeeding the calendar quarter in which such incremental Term A Loans are
made):  

	 	        (i)
       on the last Business Day of each calendar
quarter ending after the calendar                quarter in which the Term End Date
occurs to and including the eighth such                calendar quarter, the Borrower
shall make an aggregate payment equal to 2.5% of                the aggregate amount of
the Term A Loan at the time the Term A Loan Commitment                terminated;  

53 

	 	        (ii)
       on the last Business Day of each of the ninth
through sixteenth calendar                quarters next following the calendar quarter in
which the Term End Date occurs,                the Borrower shall make an aggregate
payment equal to 3.75% of the initial                aggregate principal amount of the
Term A Loan at the time the Term A Loan                Commitment terminated;  

	 	        (iii)
       on the last Business Day of each of the
seventeenth through nineteenth calendar                quarters next following the
calendar quarter in which the Term End Date occurs,                the Borrower shall
make an aggregate payment equal to 12.5% of the initial                aggregate
principal amount of the Term A Loan at the time the Term A Loan                Commitment
terminated; and  

	 	        (iv)
       on the Term A Maturity Date, the Borrower shall
pay the entire remaining unpaid                principal amount of the Term A Loan.  

        (b)                 The
Borrower shall repay the entire unpaid principal amount of the Term X Loan           in
full on the Term X Maturity Date.  

        (c)                 Subject
to adjustment pursuant to paragraph (d) of this Section, the Borrower           shall
repay the Term Y Loan on the last Business Day of each calendar quarter           set
forth below in the aggregate principal amount indicated:  

	 	        (i)
       on the last Business Day of each calendar
quarter ending after the calendar                quarter in which the Term End Date
occurs, to and including the twenty third                such calendar quarter, the
Borrower shall make an aggregate payment equal to                .25% of the initial
aggregate amount of the Term Y Loan; and  

	 	        (ii)                 on
the Term Y Maturity Date, the Borrower shall pay the entire remaining unpaid
          principal amount of the Term Y Loan.  

        (d)                 Any
optional or mandatory prepayment of a Term Borrowing of any Class shall be
          applied (i) first, in direct order of maturity to the scheduled
          repayments of the Term Borrowings of such Class occurring in the twelve months
          following the date of such prepayment and (ii) second, ratably to the
          remaining scheduled repayments of such Borrowings.  

        SECTION
2.12.    Prepayment of Loans. (a) The Borrowers shall have the
right at any time and from time to time to prepay any Borrowing in whole or in part,
subject to prior notice in accordance with paragraph (b) of this Section.  

54 

        (b)                 The
Borrower shall notify the Administrative Agent (and, in the case of           prepayment
of a Swingline Loan or Alternate Currency Loan, the Swingline Lender           or
Alternate Currency Lender, as the case may be) by telephone (confirmed by
          telecopy) of any prepayment hereunder (i) in the case of prepayment of a
          Eurocurrency Borrowing (excluding Alternate Currency Loans), not later than
          11:00 a.m., New York City time, three Business Days before the date of
          prepayment, (ii) in the case of Alternate Currency Borrowings, not later than
          11:00 a.m. London time, three (or, if so requested by the Alternate Currency
          Fronting Lender with respect to Alternate Currency Loans in a specified
          currency, four) Business Days before the date of prepayment, (iii) in the case
          of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City
          time, one Business Day before the date of prepayment or (iv) in the case of
          prepayment of a Swingline Loan, not later than 12:00 noon, New York City time
          (or in the case of a Swingline Foreign Currency Loan, 12:00 noon, London time,
          on the date of prepayment. Each such notice shall be irrevocable and shall
          specify the prepayment date and the principal amount of each Borrowing or
          portion thereof to be prepaid and, in the case of a mandatory prepayment, a
          reasonably detailed calculation of the amount of such prepayment; provided that,
if a notice of prepayment is given in connection with a           conditional notice of
termination of the Commitments as contemplated by Section           2.09, then such
notice of prepayment may be revoked if such notice of           termination is revoked in
accordance with Section 2.09. Promptly following           receipt of any such notice
relating to a Borrowing, the Administrative Agent           shall advise the applicable
Lenders of the contents thereof. Each partial           prepayment of any Borrowing shall
be in an amount that would be permitted in the           case of an advance of a
Borrowing of the same Type as provided in Section 2.02,           except as necessary to
apply fully the required amount of a mandatory           prepayment. Each prepayment of a
Borrowing shall be applied ratably to the Loans           included in the prepaid
Borrowing. Prepayments shall be accompanied by accrued           interest to the extent
required by Section 2.14. Prepayments shall be applied first, to any ABR
Borrowings comprising all or a part of the Class being           prepaid and second,
if (or once) no ABR Borrowings of such Class remain           outstanding, to outstanding
Eurocurrency Borrowings of such Class with the           shortest Interest Periods
remaining.  

        (c)                 In
the event and on each occasion that any Net Proceeds are received by or on
          behalf of the Borrower or any Subsidiary (i) in respect of any Prepayment Event
          described in clause (a) of the definition of the term “Prepayment
          Event”, the Borrower shall, within ten Business Days after such Net
          Proceeds are received, prepay first, Term X Borrowings, second,
          Term Y Borrowings and third, Term A Borrowings and (ii) in respect of
any           other Prepayment Event described in the definition of the term “Prepayment
          Event”, the Borrower shall (subject to the following sentence, including
          the provisos thereto), within ten Business Days after such Net Proceeds are
          received, prepay first, Term Y Borrowings, second, Term X
          Borrowings and third, Term A Borrowings. The prepayments required
          pursuant to this Section 2.12(c) shall be made ratably, in each case in an
          aggregate amount equal to (i) prior to repayment in full of the Term X Loans
and           Term Y Loans, 100% of the amount of such Net Proceeds, and (ii) thereafter,
the           Applicable Prepayment Percentage of the amount of such Net Proceeds, provided that
in the case of any such event described in clause (a)           (following repayment in
full of the Term X Loans and the Term Y Loans) or (b) of           the definition of the
term “Prepayment Event,” if any Borrower or any           Subsidiary applies
(or commits to apply) the Net Proceeds from such event (or a           portion thereof)
within twelve months after receipt of such Net Proceeds           and at a time
when no Event of Default has occurred and is continuing to pay all           or a portion
of the purchase price in connection with a Permitted Acquisition or           to acquire,
restore, replace, rebuild, develop, maintain or upgrade real           property,
equipment or other tangible assets useful or to be used in the           business of the
Borrower and the Subsidiaries, provided that, in each           case, the Borrower
has delivered to the Administrative Agent within ten days           after such Net
Proceeds are received a certificate of its Financial Officer           stating its
intention to do so and certifying that no Event of Default has           occurred and is
continuing, then no prepayment shall be required pursuant to           this paragraph in
respect of the Net Proceeds in respect of such event (or the           portion of such
Net Proceeds specified in such certificate, if applicable)           except (x) to the
extent of any such Net Proceeds therefrom that have not been           so applied (or
committed to be so applied) by the end of such twelve-month           period, (or if
committed to be so applied within such twelve-month period, have           not been so
applied within 18 months after receipt), or (y) if an Event of           Default shall
thereafter occur and such Net Proceeds have not yet been so           applied or
committed to be so applied, at which time a prepayment shall be           required in an
amount equal to such Net Proceeds that have not been so applied           (or committed
to be so applied) prior to the expiration of such period or the           occurrence of
such Event of Default. The Borrower shall provide to the           Administrative Agent
any such evidence reasonably requested by the           Administrative Agent with respect
to any commitment of any Borrower or any           Subsidiary to apply Net Proceeds in
accordance with this Section 2.12(c).  

55 

        (d)                 Following
the end of each fiscal year of Borrower, commencing with the fiscal           year ending
December 31, 2009, the Borrower shall prepay the Term A Borrowings           and Term Y
Borrowings ratably, in each case in an aggregate amount equal to (i)           Excess
Cash Flow for such fiscal year multiplied by the Applicable Prepayment
          Percentage, less (ii) the amount of optional prepayments of principal under the
          Term Loans made during such fiscal year. Each prepayment pursuant to this
          paragraph shall be made before the date that is ten Business Days after the
date           on which financial statements are delivered pursuant to Section 5.01 with
          respect to the fiscal year for which Excess Cash Flow is being calculated (and
          in any event within 95 days after the end of such fiscal year).  

        (e)                 Prior
to any optional prepayment of Borrowings hereunder, the Borrower shall           select
the Borrowing or Borrowings to be prepaid and shall specify such           selection in
the notice of such prepayment pursuant to paragraph (b) of this           Section; provided that
at any time prior to repayment in full of the Term           Y Loans and the Term X
Loans, any optional prepayment of the Term Loans shall           first be applied to
repay the Term Y Loans to the extent thereof and thereafter           to repay the Term X
Loans.  

        (f)                 (i)
If after the date hereof and on or prior to the Initial Borrowing Date (i)           any
Prepayment Event shall occur and (ii) prior to the initial extension of           credit
hereunder, the Borrower shall not have reduced the applicable Term           Commitment
by an amount corresponding to the amount of mandatory prepayment           which the
Borrower would have been required to make in respect of the Term A           Loan, Term X
Loan or Term Y Loan, as applicable, as a result of such Prepayment           Event had
the Term Loans been outstanding at the time thereof in the amount of           the
corresponding Term Commitment specified in Article I hereof, then on the
          Business Day next following the Initial Borrowing Date, the Borrower shall
          prepay the applicable Term Loans in the amount which would have been required
to           be prepaid in respect of such Prepayment Event had such Term Loan been
          outstanding at the time of such Prepayment Event.  

        SECTION
2.13.    Fees. (a) The Borrower agrees to pay to the
Administrative Agent for the account of each Lender a commitment fee, which shall accrue
at the Applicable Rate on (i) the average daily difference between the Revolving
Commitment of such Lender and the Revolving Credit Exposure of such Lender during the
period from and including the date hereof to but excluding the date on which such
Revolving Commitment terminates and (ii) the average daily difference between the Term
Commitments of such Lender and the outstanding Term Loans by such Lender during the
period from and including the date hereof to but excluding the date on which the
applicable Term Commitments terminate. Accrued commitment fees shall be payable in
arrears on the last day of March, June, September and December of each year and on the
date on which the applicable Commitments terminate, commencing on the first such date to
occur after the Effective Date. All commitment fees shall be computed on the basis of a
year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day).  

56 

        (b)                 The
Borrower agrees to pay (i) to the Administrative Agent for the account of           each
Lender a participation fee with respect to its participations in Letters of
          Credit, which shall accrue at the same Applicable Rate used to determine the
          interest rate applicable to Eurocurrency Revolving Loans on the average daily
          amount of such Lender’s LC Exposure (excluding any portion thereof
          attributable to unreimbursed LC Disbursements) during the period from and
          including the Effective Date to but excluding the later of the date on which
          such Lender’s Revolving Commitment terminates and the date on which such
          Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting
          fee, which shall accrue at the rate or rates per annum separately agreed upon
          between the Borrower and the Issuing Bank on the average daily amount of the LC
          Exposure (excluding any portion thereof attributable to unreimbursed LC
          Disbursements) during the period from and including the Effective Date to but
          excluding the later of the date of termination of the Revolving Commitments and
          the date on which there ceases to be any LC Exposure, as well as the Issuing
          Bank’s standard fees with respect to the issuance, amendment, renewal or
          extension of any Letter of Credit or processing of drawings thereunder.
          Participation fees and fronting fees accrued through and including the last day
          of March, June, September and December of each year shall be payable on the
          third Business Day following such last day, commencing on the first such date
to           occur after the Effective Date; provided that all such fees shall be
          payable on the date on which the Revolving Commitments terminate and any such
          fees accruing after the date on which the Revolving Commitments terminate shall
          be payable on demand. Any other fees payable to the Issuing Bank pursuant to
          this paragraph shall be payable within 10 days after demand. All participation
          fees and fronting fees shall be computed on the basis of a year of 360 days and
          shall be payable for the actual number of days elapsed (including the first day
          but excluding the last day).  

        (c)                 The
Borrower agrees to pay (i) to the Administrative Agent for the ratable
          (relative to Revolving Commitment amount) account of each Lender (including
each           Alternate Currency Lender) a participation fee with respect to each
Alternate           Currency Loan, which shall accrue at the same Applicable Rate used to
determine           the interest rate applicable to Eurocurrency Revolving Loans on the
average           daily amount of such Alternate Currency Loan during the period from and
          including the date such Alternate Currency Loan was made to but excluding the
          date of repayment thereof, and (ii) to the Alternate Currency Fronting Lender
          with respect to each Alternate Currency Loan made by it, a fronting fee with
          respect to the period from and including the date of the applicable Alternate
          Currency Loan to but excluding the date of repayment thereof at a rate per
annum           agreed between the Borrower and the Alternate Currency Fronting Lender.
Such           participation and fronting fees accrued through and including the last day
of           March, June, September and December of each year shall be payable on the
third           Business Day following such last day (or, if earlier the date that the
          Commitments terminate). For purposes of clarity, no fee shall be payable under
          this clause (c) for Loans made pursuant to Section 2.01 or 2.05.  

57 

        (d)                 The
Borrower agrees to pay to the Administrative Agent, for its own account,           fees
payable in the amounts and at the times separately agreed upon between the
          Borrower and the Administrative Agent.  

        (e)                 All
fees payable hereunder shall be paid on the dates due, in immediately           available
funds, to the Administrative Agent (or to the Issuing Bank or           Alternate
Currency Fronting Lender, in the case of fees payable to such Persons)           for
distribution, in the case of commitment fees and participation fees, to the
          Lenders. Fees paid shall not be refundable under any circumstances.  

        SECTION
2.14.    Interest. (a) The Loans comprising each ABR Borrowing
(including each Swingline Dollar Loan) shall bear interest at the Alternate Base Rate
plus the Applicable Rate.  

        (b)                 The
Loans comprising each Eurocurrency Borrowing (other than Alternate Currency
          Loans) shall bear interest at the Adjusted LIBO Rate for the Interest Period in
          effect for such Borrowing plus the Applicable Rate. Alternate Currency Loans
          shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect
          for such Borrowing (without the addition of the Applicable Rate), in addition
to           the fees set forth in Section 2.13(c).  

        (c)                 Each
Swingline Foreign Currency Loan shall bear interest as determined in           Section
2.05.  

        (d)                 Notwithstanding
the foregoing, if any principal of or interest on any Loan or           any fee or other
amount payable by any of the Borrowers hereunder is not paid           when due, whether
at stated maturity, upon acceleration or otherwise, such           overdue amount shall
bear interest, after as well as before judgment, at a rate           per annum equal to
(i) in the case of overdue principal of any Loan, 2% plus the           rate otherwise
applicable to such Loan as provided in the preceding paragraphs           of this Section
or (ii) in the case of any other amount, 2% plus the rate           applicable to ABR
Loans as provided in paragraph (a) of this Section.  

        (e)                 Accrued
interest on each Loan shall be payable in arrears on each Interest           Payment Date
for such Loan, upon the final maturity thereof and, in the case of           Revolving
Loans, upon termination of the Revolving Commitments; provided          that (i)
interest accrued pursuant to paragraph (d) of this Section shall be           payable on
demand, (ii) in the event of any repayment or prepayment of any Loan           (other
than a prepayment of an ABR Loan prior to the end of the Availability           Period),
accrued interest on the principal amount repaid or prepaid shall be           payable on
the date of such repayment or prepayment and (iii) in the event of           any
conversion of any Eurocurrency Loan prior to the end of the current Interest
          Period therefor, accrued interest on such Loan shall be payable on the
effective           date of such conversion.  

        (f)                 All
interest hereunder shall be computed on the basis of a year of 360 days,           except
that (i) interest on Borrowings denominated in Sterling shall be computed           on
the basis of a year of 365 days, (ii) interest on Borrowings denominated in           any
other Foreign Currency for which it is required by applicable law or           customary
to compute interest on the basis of a year of 365 days or, if required           by
applicable law or customary, 366 days in a leap year, shall be computed on           such
basis, and (iii) interest computed by reference to the Alternate Base Rate           at
times when the Alternate Base Rate is based on the Prime Rate shall be           computed
on the basis of a year of 365 days (or 366 days in a leap year), and in           each
case shall be payable for the actual number of days elapsed (including the
          first day but excluding the last day). The applicable Alternate Base Rate or
          Adjusted LIBO Rate shall be determined by the Administrative Agent, and such
          determination shall be conclusive absent manifest error.  

58 

        SECTION
2.15.    Alternate Rate of Interest. If prior to the
commencement of any Interest Period for a Eurocurrency Borrowing denominated in any
currency:  

	 	        (A)                      the
Administrative Agent determines (which determination shall be conclusive
               absent manifest error) that adequate and reasonable means do not exist for
               ascertaining the Adjusted LIBO Rate for such Interest Period; or  

	 	        (B)                      the
Administrative Agent is advised by the Required Lenders that the Adjusted
               LIBO Rate for such Interest Period will not adequately and fairly reflect
the                cost to such Lenders (or Lender) of making or maintaining their Loans
(or its                Loan) included in such Borrowing for such Interest Period;  

then the Administrative Agent shall
give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly
as practicable thereafter and, until the Administrative Agent notifies the Borrower and
the Lenders that the circumstances giving rise to such notice no longer exist, (i) any
Interest Election Request that requests the conversion of any Revolving Borrowing to, or
continuation of any Revolving Borrowing as, a Eurocurrency Borrowing denominated in such
currency shall be ineffective and (ii) such Borrowing shall be converted to or continued
as on the last day of the Interest Period applicable thereto (A) if such Borrowing is
denominated in Dollars, an ABR Borrowing or (B) if such Borrowing is denominated in a
Foreign Currency, as a Borrowing bearing interest at such rate as the Administrative Agent
determines adequately reflects the costs to the Lenders of making or maintaining such
Borrowing, and (ii) if any Borrowing Request requests a Eurocurrency Borrowing in such
currency, such Borrowing shall be made as an ABR Borrowing (if such Borrowing is requested
to be made in Dollars) or shall be made as a Borrowing bearing interest at such rate as
the Administrative Agent determines adequately reflects the costs to the Lender of making
or maintaining such Borrowing. 

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

	 	        (i)                      impose,
modify or deem applicable any reserve, special deposit or similar
               requirement against assets of, deposits with or for the account of, or
credit                extended by, any Lender (except any such reserve requirement
reflected in the                Adjusted LIBO Rate) or the Issuing Bank; or  

	 	        (ii)                      impose
on any Lender or the Issuing Bank or the London interbank market any                other
condition affecting this Agreement or Eurocurrency Loans made by such
               Lender or any Letter of Credit or participation therein;  

and the result of any of the
foregoing shall be to increase the cost to such Lender of making or maintaining any
Eurocurrency Loan (or of maintaining its obligation to make any such Loan) or to increase
the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining
any Letter of Credit or to reduce the amount of any sum received or receivable by such
Lender or the Issuing Bank hereunder (whether of principal, interest or otherwise), then
the Borrower will pay to such Lender or the Issuing Bank, as the case may be, such
additional amount or amounts as will compensate such Lender or the Issuing Bank, as the
case may be, for such additional costs incurred or reduction suffered. 

59 

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

        (c)                 A
certificate of a Lender or the Issuing Bank setting forth in reasonable detail
          the amount or amounts necessary to compensate such Lender or the Issuing Bank
or           its holding company, as the case may be, as specified in paragraph (a) or
(b) of           this Section shall be delivered to the Borrower and shall be conclusive
absent           manifest error. The Borrower shall pay such Lender or the Issuing Bank,
as the           case may be, the amount shown as due on any such certificate within 10
days           after receipt thereof.  

        (d)                 Failure
or delay on the part of any Lender or the Issuing Bank to demand           compensation
pursuant to this Section shall not constitute a waiver of such           Lender’s or
the Issuing Bank’s right to demand such compensation; provided that the
Borrower shall not be required to compensate a Lender           or the Issuing Bank
pursuant to this Section for any increased costs or           reductions incurred more
than 180 days prior to the date that such Lender or the           Issuing Bank, as the
case may be, notifies the Borrower of the Change in Law           giving rise to such
increased costs or reductions and of such Lender’s or           the Issuing Bank’s
intention to claim compensation therefor; provided further that, if the
Change in Law giving rise to such           increased costs or reductions is retroactive,
then the 180-day period referred           to above shall be extended to include the
period of retroactive effect thereof.  

        SECTION
2.17.    Break Funding Payments. In the event of (a) the
payment of any principal of any Eurocurrency Loan other than on the last day of an
Interest Period applicable thereto (including as a result of an Event of Default), (b)
the conversion of any Eurocurrency Loan other than on the last day of the Interest Period
applicable thereto, (c) the failure to borrow, convert, continue or prepay any
Eurocurrency Loan on the date specified in any notice delivered pursuant hereto
(regardless of whether such notice may be revoked under Section 2.12(b) and is revoked in
accordance therewith) or (d) the assignment of any Eurocurrency Loan other than on the
last day of the Interest Period applicable thereto as a result of a request by the
Borrower pursuant to Section 2.20, then, in any such event, the Borrower shall compensate
each Lender for the loss, cost and expense attributable to such event. In the case of a
Eurocurrency Loan, such loss, cost or expense to any Lender shall be deemed to include an
amount determined by such Lender to be the excess, if any, of (i) the amount of interest
which would have accrued on the principal amount of such Loan had such event not
occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the
period from the date of such event to the last day of the then current Interest Period
therefor (or, in the case of a failure to borrow, convert or continue, for the period
that would have been the Interest Period for such Loan), over (ii) the amount of interest
which would accrue on such principal amount for such period at the interest rate which
such Lender would bid were it to bid, at the commencement of such period, for deposits in
the applicable currency of a comparable amount and period from other banks in the
eurocurrency market. A certificate of any Lender setting forth in reasonable detail any
amount or amounts that such Lender is entitled to receive pursuant to this Section shall
be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower
shall pay such Lender the amount shown as due on any such certificate within 10 days
after receipt thereof.  

60 

        SECTION
2.18.    Taxes. (a) Subject to Section 2.18(h), any and all
payments by or on account of any obligation of any of the Borrowers hereunder shall be
made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that
if any of the Borrowers shall be required to deduct any Indemnified Taxes or Other Taxes
from such payments, then (i) the sum payable shall be increased as necessary so that
after making all required deductions (including deductions applicable to additional sums
payable under this Section) the Administrative Agent, Lender or Issuing Bank (as the case
may be) receives an amount equal to the sum it would have received had no such deductions
been made, (ii) the Applicable Borrower shall make such deductions and (iii) the
Applicable Borrower shall pay the full amount deducted to the relevant Governmental
Authority in accordance with applicable law.  

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

        (c)                      The
Applicable Borrower shall indemnify the Administrative Agent, each Lender
               and the Issuing Bank, within 10 days after written demand therefor, for
the full                amount of any Indemnified Taxes or Other Taxes paid by the
Administrative Agent,                such Lender or the Issuing Bank, as the case may be,
on or with respect to any                payment by or on account of any obligation of
such Applicable Borrower hereunder                (including Indemnified Taxes or Other
Taxes imposed or asserted on or                attributable to amounts payable under this
Section) and any penalties, interest                and reasonable expenses arising
therefrom or with respect thereto, whether or                not such Indemnified Taxes
or Other Taxes were correctly or legally imposed or                asserted by the
relevant Governmental Authority. A certificate in reasonable                detail as to
the amount of such payment or liability delivered to the Borrower                by a
Lender or the Issuing Bank, or by the Administrative Agent on its own
               behalf or on behalf of a Lender or the Issuing Bank, shall be conclusive
absent                manifest error.  

        (d)                      As
soon as practicable after any payment of Indemnified Taxes or Other Taxes by
               the Applicable Borrower to a Governmental Authority, the Applicable
Borrower                shall deliver to the Administrative Agent the original or a
certified copy of a                receipt issued by such Governmental Authority
evidencing such payment, a copy of                the return reporting such payment or
other evidence of such payment reasonably                satisfactory to the
Administrative Agent.  

61 

        (e)                      Any
Foreign Lender that is entitled to an exemption from or reduction of
               withholding tax under the law of the jurisdiction in which the Applicable
               Borrower is regarded by the relevant Governmental Authority for purposes
of its                Tax laws as being resident, or under any treaty to which such
jurisdiction is a                party, with respect to payments under this Agreement
shall deliver to the                Borrower (with a copy to the Administrative Agent),
at the time or times                prescribed by applicable law, such properly completed
and executed documentation                prescribed by applicable law or reasonably
requested by the Borrower as will                permit such payments to be made without
withholding or at a reduced rate.  

        (f)                      If
the Administrative Agent and Issuing Bank or a Lender determines that it has
               received a refund of any Taxes or Other Taxes as to which it has been
               indemnified by one of the Borrowers or with respect to which one of the
               Borrowers has paid additional amounts pursuant to this Section 2.18, it
shall                pay over to the Applicable Borrower the amount of such refund (but
only to the                extent of indemnity payments made, or additional amounts paid,
by the Applicable                Borrower under this Section 2.18 with respect to the
Taxes or Other Taxes giving                rise to such refund), net of all out-of-pocket
expenses of the Administrative                Agent, Issuing Bank, or such Lender (as the
case may be) and without interest                (other than any interest paid by the
relevant Governmental Authority with                respect to such refund); provided that
the Applicable Borrower, upon the                request of the Administrative Agent,
Issuing Bank or Lender (as the case may                be), agrees to repay the amount
paid over to the Applicable Borrower (plus any                penalties, interest or
other charges imposed by the relevant Governmental                Authority) to the
Administrative Agent, Issuing Bank, or Lender (as the case may                be) in the
event the Administrative Agent, Issuing Bank or Lender (as the case                may
be) is required to repay such refund to such Governmental Authority. This
               Section shall not be construed to require the Administrative Agent or any
Lender                to make available its tax returns (or any other information
relating to its                taxes which it deems confidential) to any of the Borrowers
or any other Person.  

        (g)                      Each
of the Borrowers that is either resident in the United Kingdom for United
               Kingdom tax purpose or that otherwise makes payments under this Agreement
that                have a United Kingdom source (in each case, a “UK Borrower”)
               must make all payments hereunder without any deduction or withholding for
or on                account of United Kingdom Taxes (“UK Tax Deduction”),
unless a                UK Tax Deduction is required by law. If such a UK Tax Deduction
is required by                law, the amount of the payment due from the UK Borrower in
question will be                increased by an amount which (after making all UK Tax
Deductions) leaves an                amount equal to the payment which would have been
due had no UK Tax Deduction                been required.  

        (h)                      Except
as provided below, a UK Borrower is not required to make an increased
               payment under paragraph (g) above for a UK Tax Deduction:  

	 	        (i)                      if
on the date on which the payment in respect of which the UK Tax Deduction is
               required falls due, the payment could have been made to the relevant
Lender                without a UK Tax Deduction if it was, or had not ceased to be, a
Qualifying                Lender, but on that date that Lender is not, or has ceased to
be, a Qualifying                Lender in respect of that UK Borrower;  

	 	        (ii)                      if
the relevant Lender is a Treaty Lender and the UK Borrower making the payment
               is able to demonstrate that the UK Tax Deduction would not have been
required if                the Lender had complied with its obligations under paragraph
2.18(e) above; or  

62 

	 	        (iii)                      If
on the date on which the payment falls due:  

	 	(A) 	the
relevant Lender is a Qualifying Lender solely under sub-paragraphs (ii) and
               (iii) of the definition of UK Lender;  

	 	(B) 	an
officer of HM Revenue & Customs has given (and not revoked a direction)
               (a “Direction”) under section 931 of the Income Tax Act 2007 (as
that                provision has effect on the date on which the relevant Lender became
a party to                this Agreement) which relates to that payment and that Lender
has received from                that UK Borrower a certified copy of that Direction; and  

	 	(C) 	the
payment could have been made to the Lender with out any Tax Deduction in the
               absence of that Direction; or  

	 	        (iv)                      the
relevant Lender is a Qualifying Lender solely under sub-paragraphs (ii) and
               (iii) of the definition of UK Lender and it has not, other than by reason
of any                change after the date of this Agreement in (or in the
interpretation,                administration or application of) any law, or any
published practice or                concession of any relevant taxing authority, given a
Tax Confirmation to the                Borrowers.  

        (i)                      Paragraph
(h)(i) above will not apply if the relevant Lender has ceased to be a
               Qualifying Lender in respect of that UK Borrower by reason of any change
after                the date it became a Lender under this Agreement in (or in the
interpretation,                administration or application of) any law or treaty or any
published practice or                concession of any relevant taxing authority.  

        (j)                      If
a UK Borrower is required to make a UK Tax Deduction, that UK Borrower must
               make the minimum UK Tax Deduction allowed by law and must make any payment
               required in connection with that UK Tax Deduction within the time allowed
by                law.  

        (k)                      Within
30 days of making either a UK Tax Deduction or a payment required in
               connection with a UK Tax Deduction, the UK Borrower making that UK Tax
Deduction                or payment must deliver to the Administrative Agent evidence
satisfactory to                that Lender (acting reasonably) that the UK Tax Deduction
has been made or (as                applicable) the appropriate payment has been paid to
Her Majesty’s Revenue                and Customs.  

        (l)                      If
a Lender is expressed to be a UK Lender then it shall confirm to the
               Borrowers that it is a UK Lender by entering into this Agreement. A UK
Lender                must promptly notify the Borrower if it ceases to be a UK Lender.  

        (m)                      For
the purposes of this Section 2.18:  

	 	
“Qualifying
Lender” means a Lender which is:  

63 

	 	        (i)                 a
UK Lender; or  

	 	        (ii)                 a
Treaty Lender;  

	 	
“Tax
Confirmation” means a confirmation by a UK Lender that the person beneficially
entitled to interest payable to that UK Lender in respect of a Loan is either: 

	 	        (i)                           a
company resident in the United Kingdom for United Kingdom tax purposes; or  

	 	        (ii)                           a
company not so resident in the United Kingdom which carries on a trade in the
          United Kingdom through a permanent establishment and which brings into account
          interest payable in respect of that advance in computing the chargeable profits
          (for the purposes of section 11(2) of the United Kingdom Income and Corporation
          Taxes Act 1988) of that company.  

	 	
“Treaty
Lender” means, in respect of a UK Borrower, a Lender which:  

	 	        (i)                      is
treated as resident of a Treaty State for the purposes of a double taxation
               agreement with the United Kingdom;  

	 	        (ii)                      does
not carry on a business in the United Kingdom through a permanent
               establishment with which that Lender’s participation in the Loan is
               effectively connected; and  

	 	        (iii)                      meets
all other conditions in the relevant double taxation agreement for full
               exemption from tax imposed by the United Kingdom on interest, except that
for                this purpose it shall be assumed that the following are satisfied:  

	 	(A) 	any
condition which relates (expressly or by implication) to there being a           special
relationship between the UK Borrower and a Lender or between both of           them and
another person, or to the amounts or terms of any Loan or the Credit           Documents,
or to any other matter that is outside the exclusive control of that           Lender;
and  

	 	(B) 	any
necessary procedural formalities.  

	 	
“Treaty
State” means a jurisdiction having a double taxation agreement with the United
Kingdom which makes provision for full exemption from tax imposed by the United Kingdom
on interest. 

	 	
“UK
Lender” means a Lender which is:  

	 	        (i)                      within
the charge to United Kingdom corporation tax in respect of, and
               beneficially entitled to, a payment of interest on a Loan made by a person
that                was a bank for the purposes of section 879 of the United Kingdom
Income Tax Act                2007 at the time the Loan was made;  

64 

	 	        (ii)                      a
company resident in the United Kingdom for United Kingdom tax purposes; or  

	 	        (iii)                      a
company not so resident in the United Kingdom which carries on a trade in the
               United Kingdom through a permanent establishment and is required to bring
into                account interest paid to it under this Agreement in computing its
chargeable                profits (for the purposes of section 11(2) of the United
Kingdom Income and                Corporation Taxes Act 1988).  

        SECTION
2.19.    Payments Generally; Pro Rata Treatment; Sharing of
Set-offs. (a) Each of the Borrowers shall make each payment required to be made by it
hereunder (whether of principal, interest, fees or reimbursement of LC Disbursements, or
of amounts payable under Section 2.16, 2.17 or 2.18, or otherwise) prior to 12:00 noon,
New York City time, on the date when due, in immediately available funds, without set-off
or counterclaim. Any amounts received after such time on any date may, in the discretion
of the Administrative Agent, be deemed to have been received on the next succeeding
Business Day for purposes of calculating interest thereon. All such payments shall be
made to the Administrative Agent at its offices at 270 Park Avenue, New York, New York,
except payments to be made directly to the Issuing Bank, Alternate Currency Fronting
Lender or Swingline Lender as expressly provided herein and except that payments pursuant
to Sections 2.16, 2.17, 2.18 and 9.03 shall be made directly to the Persons entitled
thereto. The Administrative Agent shall distribute any such payments received by it for
the account of any other Person to the appropriate recipient promptly following receipt
thereof. If any payment hereunder shall be due on a day that is not a Business Day, the
date for payment shall be extended to the next succeeding Business Day, and, in the case
of any payment accruing interest, interest thereon shall be payable for the period of
such extension. All payments hereunder of (i) principal or interest in respect of any
Loan shall be made in the currency in which such Loan is denominated, (ii) reimbursement
obligations shall be made in the currency in which the Letter of Credit in respect of
which such reimbursement obligation exists is denominated or (iii) any other amount due
hereunder or under another Credit Document shall be made in Dollars. Any payment required
to be made by the Administrative Agent hereunder shall be deemed to have been made by the
time required if the Administrative Agent shall at or before such time, have taken the
necessary steps to make such payment in accordance with the regulations or operating
procedures of the clearing or settlement system used by the Administrative Agent to make
such payment.  

        (b)                 If
at any time insufficient funds are received by and available to the
          Administrative Agent to pay fully all amounts of principal, unreimbursed LC
          Disbursements, interest and fees then due hereunder, such funds shall be
applied           (i) first, towards payment of interest and fees then due hereunder,
ratably           among the parties entitled thereto in accordance with the amounts of
interest           and fees then due to such parties, and (ii) second, towards payment of
principal           and unreimbursed LC Disbursements then due hereunder, ratably among
the parties           entitled thereto in accordance with the amounts of principal and
unreimbursed LC           Disbursements then due to such parties.  

65 

        (c)                 If
any Lender shall, by exercising any right of set off or counterclaim or
          otherwise, obtain payment in respect of (i) any obligations due and payable to
          such Lender hereunder or under the other Credit Documents at such time in
excess           of its ratable share (according to the proportion of (A) the amount of
such           obligations due and payable to such Lender at such time to (B) the
aggregate           amount of obligations due and payable to all Lenders hereunder and
under the           other Credit Documents at such time) of payments on account of
obligations due           and payable to all Lenders hereunder and under the other Credit
Documents at           such time obtained by all the Lenders at such time or (ii) any
obligations owing           (but not due and payable) to such Lender hereunder and under
the other Credit           Documents at such time in excess of its ratable share
(according to the           proportion of (A) the amount of such obligations owing (but
not due and payable)           to such Lender at such time to (B) the aggregate amount of
obligations owing           (but not due and payable) to all Lenders hereunder and under
the other Credit           Documents at such time) of payments on account of obligations
owing (but not due           and payable) to all Lenders hereunder and under the other
Credit Documents at           such time obtained by all the Lenders at such time, then
the Lender receiving           such greater proportion shall notify the Administrative
Agent of such fact and           shall purchase (for cash at face value) participations
in the Term Loans,           Revolving Loans and participations in LC Disbursements,
Alternate Currency Loans           and Swingline Loans of other Lenders, as applicable,
or make such other           adjustments as shall be equitable, to the extent necessary
so that the benefit           of all such payments shall be shared by the Lenders ratably
in accordance with           the aggregate amount of obligations then due and payable to
the Lenders or owing           (but not due and payable) to the Lenders, as the case may
be; provided          that (i) if any such participations are purchased and all or
any portion of the           payment giving rise thereto is recovered, such
participations shall be rescinded           and the purchase price restored to the extent
of such recovery, without           interest, and (ii) the provisions of this paragraph
shall not be construed to           apply to any payment made by any of the Borrowers
pursuant to and in accordance           with the express terms of this Agreement or any
payment obtained by a Lender as           consideration for the assignment of or sale of
a participation in any of its           Loans or participations in LC Disbursements,
Alternate Currency Loans and           Swingline Loans to any assignee or participant,
other than to the Borrower or           any Subsidiary or Affiliate thereof (as to which
the provisions of this           paragraph shall apply). Each of the Borrowers consents
to the foregoing and           agrees, to the extent it may effectively do so under
applicable law, that any           Lender acquiring a participation pursuant to the
foregoing arrangements may           exercise against such Applicable Borrower rights of
set-off and counterclaim           with respect to such participation as fully as if such
Lender were a direct           creditor of the Applicable Borrower in the amount of such
participation.  

        (d)                 Unless
the Administrative Agent shall have received notice from the Applicable
          Borrower prior to the date on which any payment is due to the Administrative
          Agent for the account of the Lenders or the Issuing Bank hereunder that the
          Applicable Borrower will not make such payment, the Administrative Agent may
          assume that the Applicable Borrower has made such payment on such date in
          accordance herewith and may, in reliance upon such assumption, distribute to
the           Lenders or the Issuing Bank, as the case may be, the amount due. In such
event,           if the Applicable Borrower has not in fact made such payment, then each
of the           Lenders or the Issuing Bank, as the case may be, severally agrees to
repay to           the Administrative Agent forthwith on demand the amount so distributed
to such           Lender or Issuing Bank with interest thereon, for each day from and
including           the date such amount is distributed to it to but excluding the date
of payment           to the Administrative Agent, (i) at the greater of the Federal Funds
Effective           Rate and a rate determined by the Administrative Agent in accordance
with           banking industry rules on interbank compensation (in the case of an amount
          denominated in Dollars) and (ii) the rate reasonably determined by the
          Administrative Agent to be the cost to it of funding such amount (in the case
of           an amount denominated in a Foreign Currency).  

66 

        (e)                 If
any Lender shall fail to make any payment required to be made by it pursuant           to
Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.19(d) or 9.03(c), then the
          Administrative Agent may, in its discretion (notwithstanding any contrary
          provision hereof), apply any amounts thereafter received by the Administrative
          Agent for the account of such Lender to satisfy such Lender’s obligations
          under such Sections until all such unsatisfied obligations are fully paid.  

        SECTION
2.20.    Mitigation Obligations; Replacement of Lenders. (a)
If any Lender requests compensation under Section 2.16, or if any of the Borrowers is
required to pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.18, then such Lender shall use reasonable
efforts to designate a different lending office for funding or booking its Loans
hereunder or to assign its rights and obligations hereunder to another of its offices,
branches or affiliates, if, in the judgment of such Lender, such designation or
assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.16 or
2.18, as the case may be, in the future and (ii) would not subject such Lender to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender.
The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any
Lender in connection with any such designation or assignment.  

        (b)                 If
any Lender requests compensation under Section 2.16, or if any of the           Borrowers
is required to pay any additional amount to any Lender or any           Governmental
Authority for the account of any Lender pursuant to Section 2.18,           or if any
Lender defaults in its obligation to fund Loans hereunder, then the           Borrower
may, at its sole expense and effort, upon notice to such Lender and the
          Administrative Agent, require such Lender to assign and delegate, without
          recourse (in accordance with and subject to the restrictions contained in
          Section 9.04), all its interests, rights and obligations under this Agreement
to           an assignee that shall assume such obligations (which assignee may be
another           Lender, if a Lender accepts such assignment); provided that (i)
the           Borrower shall have received the prior written consent of the
Administrative           Agent (and if a Revolving Commitment is being assigned, the
Issuing Bank), which           consent shall not unreasonably be withheld, (ii) such
Lender shall have received           payment of an amount equal to the outstanding
principal of its Loans and           participations in LC Disbursements and Swingline
Loans, accrued interest           thereon, accrued fees and all other amounts payable to
it hereunder, from the           assignee (to the extent of such outstanding principal
and accrued interest and           fees) or the Borrower (in the case of all other
amounts) and (iii) in the case           of any such assignment resulting from a claim
for compensation under Section           2.16 or payments required to be made pursuant to
Section 2.18, such assignment           will result in a reduction in such compensation
or payments. A Lender shall not           be required to make any such assignment and
delegation if, prior thereto, as a           result of a waiver by such Lender or
otherwise, the circumstances entitling the           Borrower to require such assignment
and delegation cease to apply.  

67 

        (c)                 If,
in connection with any proposed amendment, modification or waiver pursuant           to
Section 9.02 (a “Proposed Change”) requiring the consent of
          all or all affected Lenders, the consent of the Required Lenders is obtained,
          but the consent of other Lenders whose consent is required is not obtained (any
          such Lender whose consent is not obtained as described in this clause (c) being
          referred to as a “Non-Consenting Lender”), then, so long as
the           Administrative Agent is not a Non-Consenting Lender, at the Borrower’s
          request and at its sole cost and expense, the Administrative Agent, or a Person
          or Persons reasonably acceptable to the Administrative Agent, shall have the
          right with the Administrative Agent’s consent (but shall have no
          obligation) to purchase from such Non-Consenting Lenders, and such
          Non-Consenting Lenders agree that they shall, upon the Administrative
          Agent’s request, sell and assign to the Administrative Agent or such
          Person, all of the Loans and Commitments of such Non-Consenting Lenders for an
          amount equal to the principal balance of all Loans held by the Non-Consenting
          Lenders and all accrued interest, fees and other amounts with respect thereto
          through the date of the sale, such purchase and sale to be consummated at par
          pursuant to an Assignment and Assumption (with the Borrower or the assignee
          paying any applicable assignment fee). Any such required sale and assignment
          shall be treated as a prepayment for purposes of Section 2.17 and the Borrower
          shall be liable for any amounts payable thereunder as a result of such sale and
          assignment.  

        SECTION
2.21.    Subsidiary Borrowers. 

        (a)                 The
Borrower may, at any time or from time to time, designate one or more
          Wholly-Owned Subsidiaries of the Borrower as a “Subsidiary Borrower”          hereunder
by furnishing to the Administrative Agent and the Lenders at least           five
Business Days before such designation is to take effect a Designation           Letter in
duplicate, duly completed and executed by the Borrower and such           Wholly-Owned
Subsidiary, together with (i) the items described in paragraphs (h)           and (i) of
Section 4.01 relating to such Subsidiary Borrower in form and           substance
satisfactory to the Administrative Agent, (ii) such security           agreements and
similar documents as the Administrative Agent shall reasonably           request to
accomplish the pledge by such Subsidiary Borrower of substantially           all of its
assets (other than Real Property) and such immaterial assets as may           be agreed
upon between the Administrative Agent and the Borrower) to secure the
          obligations of such Subsidiary Borrower hereunder and under the Designation
          Letter, and (iii) such other documents and information (including information
          relating to “know your customer” rules and regulations) as the
          Administrative Agent shall reasonably request. Upon any such designation of a
          Wholly-Owned Subsidiary and the consent of each of the Lenders, which will not
          be unreasonably withheld, such Subsidiary shall be a Subsidiary Borrower
          hereunder (with the related rights and obligations) and shall be entitled to
          request Revolving Loans on and subject to the terms and conditions of, and to
          the extent provided in, this Agreement; provided, however, that
if           the Borrower so indicates in the applicable Designation Letter, the
Subsidiary           Borrower may be entitled to request only Alternate Currency Loans,
in which case           such Subsidiary Borrower shall then be entitled to request
Alternate Currency           Loans on and subject to the terms and conditions of, and to
the extent provided           in, this Agreement and the consent to such designation of
only the           Administrative Agent and the applicable Alternate Currency Lenders
shall be           required.  

        (b)                 So
long as all Loans made to any Subsidiary Borrower and any related obligations
          have been paid in full, the Borrower may terminate the status of such
Subsidiary           Borrower as a Subsidiary Borrower hereunder by furnishing to the
Administrative           Agent a Termination Letter in duplicate, duly completed and
executed by the           Borrower and such Subsidiary. Any Termination Letter furnished
hereunder shall           be effective upon receipt by the Administrative Agent, which
shall promptly           notify the Lenders. Notwithstanding the foregoing, the delivery
of a Termination           Letter with respect to any Subsidiary Borrower shall not
terminate (i) any           obligation of such Subsidiary Borrower that remains unpaid at
the time of such           delivery or (ii) the obligations of the Borrower under the
Parent Guaranty with           respect to any such unpaid obligations.  

68 

        (c)                 BPGR
and Manitowoc Asia Holdings as the initial Subsidiary Borrowers, hereby           agree
to be bound by the provisions of the second sentence of the third           paragraph of
the attached form of Designation Letter as if the same were fully           set forth
herein. The provisions of Section 2.21(a)(ii) shall not be applicable           to such
Subsidiary Borrowers.  

        SECTION
2.22.   Additional Reserve Costs. (a) For so long as any Lender is
required to comply with (a) the requirements of the Bank of England and/or the Financial
Services Authority (or, in either case, any other authority which replaces all or any of
its functions) or (b) the requirements of the European Central Bank, in each case in
respect of such Lender’s Eurocurrency Loans or Swingline Foreign Currency Loans,
such Lender shall be entitled to require the Applicable Borrower to pay,
contemporaneously with each payment of interest on each of such Loans, additional
interest on such Loan at a rate per annum equal to the Mandatory Cost Rate calculated in
accordance with the formula and in the manner set forth in Schedule 2.22 hereto.  

        (b)                 For
so long as any Lender is required to comply with reserve assets, liquidity,
          cash margin or other requirements of any monetary or other authority (including
          any such requirement imposed by the European Central Bank or the European
System           of Central Banks, but excluding requirements reflected in the Statutory
Reserves           or the Mandatory Cost Rate) in respect of any of such Lender’s
Eurocurrency           Loans and Swingline Foreign Currency Loans, such Lender shall be
entitled to           require the Applicable Borrower to pay, contemporaneously with each
payment of           interest on each of such Lender’s Loans subject to such
requirements,           additional interest on such Loan at a rate per annum specified by
such Lender to           be the cost to such Lender of complying with such requirements
in relation to           such Loan.  

        (c)                 Any
additional interest owed pursuant to paragraph (b) above shall be determined           in
reasonable detail by the applicable Lender, which determination shall be
          conclusive absent manifest error, and notified to the applicable Borrower (with
          a copy to the Administrative Agent) at least five Business Days before each
date           on which interest is payable for the applicable Loan, and such additional
          interest so notified to the applicable Borrower by such Lender shall be payable
          to the Administrative Agent for the account of such Lender on each date on
which           interest is payable for such Loan.  

ARTICLE III  

Representations and
Warranties 

        The
Borrower represents and warrants to the Lenders that: 

        SECTION
3.01.    Organization; Powers. Except as set forth on Schedule
3.01, each of the Borrower and its Subsidiaries is duly organized, validly existing and
in good standing under the laws of the jurisdiction of its organization (except, with
respect to Subsidiaries that are not Subsidiary Guarantors, where the failure to be in
good standing under the laws of their respective jurisdiction of incorporation could not
reasonably be expected to result, individually or in the aggregate, in a Material Adverse
Effect), has all requisite power and authority to carry on its business as now conducted
and, except where the failure to do so, individually or in the aggregate, could not
reasonably be expected to result in a Material Adverse Effect, is qualified to do
business in, and is in good standing in, every jurisdiction where such qualification is
required.  

69 

        SECTION
3.02.    Authorization; Enforceability. The Transactions are
within the Credit Parties’ corporate or limited liability company or other
organizational powers and have been duly authorized by all necessary corporate and, if
required, stockholder or similar action. This Agreement has been duly executed and
delivered by the Borrower and constitutes a legal, valid and binding obligation of the
Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether considered
in a proceeding in equity or at law.  

        SECTION
3.03.    Governmental Approvals; No Conflicts. The
Transactions (a) do not require any consent or approval of, registration or filing with,
or any other action by, any Governmental Authority, except such as have been obtained or
made and are in full force and effect (or, in the case of the Acquisition, shall have
been obtained or made prior to the Initial Borrowing Date), (b) will not violate any
applicable law or regulation or the charter, by-laws or other organizational documents of
the Borrower or any of its Subsidiaries or any order of any Governmental Authority, (c)
will not violate or result in a default under (i) the Senior Note Documents or (ii) any
other indenture, agreement or other instrument binding upon the Borrower or any of its
Subsidiaries or its assets, other than (in the case of such other indentures, agreements
or instruments referred to in clause (ii)) such violations or defaults which could not
reasonably be expected to result, individually or in the aggregate, in a Material Adverse
Effect, or give rise to a right thereunder to require any payment to be made by the
Borrower or any of its Subsidiaries, and (d) will not result in the creation or
imposition of any Lien on any asset of the Borrower or any of its Subsidiaries, other
than Permitted Liens.  

        SECTION
3.04.    Financial Condition; No Material Adverse Change. (a)
The Borrower has heretofore furnished to the Lenders its consolidated balance sheet and
statements of income, stockholders equity and cash flows as of and for the fiscal year
ended December 31, 2007, reported on by Pricewaterhouse Coopers LLP, independent public
accountants. Such financial statements present fairly, in all material respects, the
financial position and results of operations and cash flows of the Borrower and its
consolidated Subsidiaries as of such date and for such period in accordance with GAAP.  

        (b)                 Since
December 31, 2007, there has been no material adverse change in the           business,
assets, operations, prospects or condition, financial or otherwise, of           the
Borrower and its Subsidiaries, taken as a whole.  

        SECTION
3.05.    Properties. (a) Each of the Borrower and its
Subsidiaries has good title to, or valid leasehold interests in, all its real and
personal property material to its business, except for minor defects in title that do not
interfere with its ability to conduct its business as currently conducted or to utilize
such properties for their intended purposes, and free and clear of all Liens, other than
Permitted Liens. All Real Property having a fair market value in excess of $5,000,000
owned by the Borrower or any of the Subsidiary Guarantors as of the Effective Date is set
forth on Schedule 3.05. Schedule 3.05 also sets forth (i) the locations of all leased
Real Property of the Borrower or any Subsidiary Guarantor where equipment and/or
inventory having a fair market value in excess of $500,000 in the aggregate (as
determined at any time during the immediately preceding four fiscal quarters) is held as
of the Effective Date, and (ii) the locations where such equipment and/or inventory is
held pursuant to bailment arrangements as of the Effective Date.  

70 

        (b)                 Each
of the Borrower and its Subsidiaries owns, or is licensed to use, all
          trademarks, tradenames, copyrights, patents and other intellectual property
          material to its business, and the use thereof by the Borrower and its
          Subsidiaries does not infringe upon the rights of any other Person, except for
          any such infringements that, individually or in the aggregate, could not
          reasonably be expected to result in a Material Adverse Effect.  

        SECTION
3.06.    Litigation and Environmental Matters. (a) There are
no actions, suits or proceedings by or before any arbitrator or Governmental Authority
pending against or, to the knowledge of the Borrower, threatened against or affecting the
Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of
an adverse determination and that, if adversely determined, could reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect or (ii) that
involve the Credit Documents or the Transactions.  

        (b)                 Except
with respect to any other matters that, individually or in the aggregate,           could
not reasonably be expected to result in a Material Adverse Effect, neither           the
Borrower nor any of its Subsidiaries (i) has failed to comply with any
          Environmental Law or to obtain, maintain or comply with any permit, license or
          other approval required under any Environmental Law, (ii) has become subject to
          any Environmental Liability, (iii) has received notice of any claim with
respect           to any Environmental Liability or (iv) knows of any basis for any
Environmental           Liability.  

        SECTION
3.07.    Compliance with Laws and Agreements. Each of the
Borrower and its Subsidiaries is in compliance with all laws, regulations and orders of
any Governmental Authority applicable to it or its property and all indentures,
agreements and other instruments binding upon it or its property, except where the
failure to do so, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect. No Default has occurred and is continuing.  

        SECTION
3.08.    Investment Company Status. Neither the Borrower nor
any of its Subsidiaries is an “investment company” as defined in, or subject to
regulation under, the Investment Company Act of 1940.  

        SECTION
3.09.    Taxes. Each of the Borrower and its Subsidiaries has
timely filed or caused to be filed all Tax returns and reports required to have been
filed (including the filing of extensions in respect thereof) and has paid or caused to
be paid all Taxes required to have been paid by it, except (a) Taxes that are being
contested in good faith by appropriate proceedings and for which the Borrower or such
Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the
extent that the failure to do so could not reasonably be expected to result in a Material
Adverse Effect.  

71 

        SECTION
3.10.    ERISA; Foreign Pension Plans. (a) No ERISA Event has
occurred or is reasonably expected to occur that, when taken together with all other such
ERISA Events for which liability is reasonably expected to occur, could reasonably be
expected to result in a Material Adverse Effect. Except as set forth on Schedule 3.10,
the present value of all accumulated benefit obligations under each Plan (based on the
assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did
not, as of the date of the most recent financial statements prior to the Effective Date
reflecting such amounts, exceed by more than $20,000,000 the fair market value of the
assets of such Plan, and the present value of all accumulated benefit obligations of all
underfunded Plans (based on the assumptions used for purposes of Statement of Financial
Accounting Standards No. 87) did not, as of the date of the most recent financial
statements prior to the Effective Date reflecting such amounts, exceed by more than
$20,000,000 the fair market value of the assets of all such underfunded Plans.  

        (b)                 Each
Foreign Pension Plan has been maintained in substantial compliance with its
          terms and in substantial compliance with the requirements of any and all
          applicable laws, statutes, rules, regulations and orders and has been
          maintained, where required, in good standing with applicable regulatory
          authorities. All contributions required to be made with respect to a Foreign
          Pension Plan have been timely made. Neither the Borrower nor any of its
          Subsidiaries has incurred any material obligation in connection with the
          termination of or withdrawal from any Foreign Pension Plan. Except as set forth
          on Schedule 3.10, the present value of the accrued benefit liabilities (whether
          or not vested) under each Foreign Pension Plan, determined as of the end of the
          Borrower’s most recently ended fiscal year prior to the Effective Date on
          the basis of actuarial assumptions, each of which is reasonable, did not exceed
          by more than $20,000,000 the current value of the assets of such Foreign
Pension           Plan allocable to such benefit liabilities.  

        (c)                 To
the Borrower’s knowledge, (i) there are no grounds to suspect that the
          Pensions Regulator would have the power to issue a Financial Support Direction
          or a Contribution Notice to any member of the Target Group as a result of the
          consummation of the Acquisition or the Transactions or, if the Pensions
          Regulator had such a power, it would not be reasonable for it to exercise such
a           power, in each case with respect to any of the UK defined benefit pension
          schemes operated by or maintained for the benefit of members of the Target
          Group; and (ii) there is no requirement (and no requirement will arise) to
          notify, or, in consequence of (i) above, the Borrower does not consider it
          necessary to seek any clearance from, the Pensions Regulator as a result of the
          consummation of the Acquisition or the Transactions. Under the terms of the UK
          defined benefit pension schemes operated by or maintained for the benefit of
          members of the Target Group, the pension trustees do not have the power to
          unilaterally wind up those schemes or to unilaterally increase the
contributions           required to be made by the members of the Target Group.  

        SECTION
3.11.    Disclosure. The Borrower has disclosed to the Lenders
all agreements, instruments and corporate or other restrictions to which it or any of its
Subsidiaries is subject, and all other matters known to it, that, individually or in the
aggregate, could reasonably be expected to result in a Material Adverse Effect. Neither
the Information Memorandum nor any of the other reports, financial statements,
certificates or other information furnished by or on behalf of the Borrower to the
Administrative Agent or any Lender in connection with the negotiation of this Agreement
or delivered hereunder (as modified or supplemented by other information so furnished)
contains or will contain any material misstatement of fact or omits to state any material
fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading; provided that, with respect to projected
financial information, the Borrower represents only that such information was prepared in
good faith based upon assumptions believed to be reasonable at the time.  

72 

        SECTION
3.12.    The Security Documents. (a)  The provisions
of the Security Documents are effective to create in favor of the Collateral Agent for
the benefit of the Secured Creditors a legal, valid and enforceable security interest in
all right, title and interest of the Credit Parties in the US Security Agreement
Collateral and UK Security Agreement Collateral described therein, and the Collateral
Agent, for the benefit of the Secured Creditors, will have, upon its taking all actions
required of it under the UCC, a fully perfected security interest in all right, title and
interest in all of the US Security Agreement Collateral described therein (to the extent
that such security interest can be perfected by filing a UCC financing statement or, to
the extent required by the US Security Agreement, by taking possession of (or taking
certain other actions with respect to) the respective US Security Agreement Collateral),
subject to no other Liens other than Permitted Liens. In addition, the recordation of (x)
the Grant of Security Interest in U.S. Patents and (y) the Grant of Security Interest in
U.S. Trademarks in the respective forms attached to the US Security Agreement, in each
case in the United States Patent and Trademark Office, together with UCC filings made
pursuant to the US Security Agreement, will create, as may be perfected by such filings
and recordation, a perfected security interest in the United States trademarks and
patents covered by the US Security Agreement, and the recordation of the Grant of
Security Interest in U.S. Copyrights in the form attached to the US Security Agreement
with the United States Copyright Office, together with UCC filings made pursuant to the
US Security Agreement, will create, as may be perfected by such filings and recordation,
a perfected security interest in the United States copyrights covered by the US Security
Agreement.  

        (b)                 The
security interests created in favor of the Collateral Agent, as pledgee, for
          the benefit of the Secured Creditors, under the US Pledge Agreement constitute
          perfected security interests in the US Pledge Agreement Collateral described in
          the US Pledge Agreement, subject to no security interests of any other Person.
          No filings or recordings are required in order to perfect (or maintain the
          perfection or priority of) the security interests created in the US Pledge
          Agreement Collateral under the US Pledge Agreement other than with respect to
          that portion of the US Pledge Agreement Collateral constituting a “general
          intangible” under the UCC.  

        SECTION
3.13.    Subsidiaries. As of the Effective Date, the Borrower
has no Subsidiaries other than those Subsidiaries listed on Schedule 3.13. Schedule 3.13
correctly sets forth, as of the Effective Date, (i) the percentage ownership (direct or
indirect) of the Borrower in each class of capital stock or other equity of its
Subsidiaries and also identifies the direct owner thereof, and (ii) the jurisdiction of
organization of each such Subsidiary.  

73 

        SECTION
3.14.    Indebtedness. Schedule 6.01 sets forth a true and
complete list of all Indebtedness (including Guarantees (other than Guarantees otherwise
permitted under Section 6.01)) of the Borrower and its Subsidiaries and, to the knowledge
of Borrower, the Target Group as of the Effective Date and which is to remain outstanding
after giving effect to the Transactions (excluding the Loans and the Letters of Credit),
in each case showing the aggregate principal amount thereof and the name of the
respective borrower and any Credit Party or any of its Subsidiaries (and, to the
knowledge of the Borrower, any member of the Target Group) which directly or indirectly
guarantees such debt.  

        SECTION
3.15.    Insurance. Schedule 3.15 sets forth a true and
complete listing of all insurance maintained by the Borrower and its Subsidiaries as of
the Effective Date, with the amounts insured (and any deductibles) set forth therein.  

        SECTION
3.16.    Regulation U. Margin stock (as defined in Regulation
U of the Board of Governors of the Federal Reserve System) constitutes less than 25% of
the value of those assets of the Borrower and its Subsidiaries which are subject to any
limitation on sale, pledge, or other restriction hereunder. Neither the making of any
Loan or issuance of any Letters of Credit hereunder, the use of the proceeds thereof, nor
any other aspect of the financing of the Acquisition, will violate or be inconsistent
with the provisions of Regulation T, Regulation U or Regulation X of the Board of
Governors of the Federal Reserve System.  

        SECTION
3.17.    Solvency. On the Initial Borrowing Date, after giving
effect to the consummation of the transactions contemplated hereby and by the Transaction
Documents and the payment of all fees, costs and expenses payable by the Borrower with
respect to the transactions contemplated hereby and by the Transaction Documents, (a) on
a going concern basis the fair market value of the assets of the Borrower and its
Subsidiaries, on a consolidated basis, will exceed their debts and liabilities,
subordinated, contingent or otherwise, (b) the present fair saleable value of the
property of the Borrower and its Subsidiaries, on a consolidated basis, will be greater
than the amount that will be required to pay their debts and other liabilities,
subordinated, contingent or otherwise, as such debts or other liabilities become absolute
and matured in the ordinary course, (c) the Borrower and its Subsidiaries, on a
consolidated basis, are able to pay their debts and liabilities, subordinated, contingent
or otherwise, as such debts and liabilities become absolute and matured in the ordinary
course, and (d) the Borrower and its Subsidiaries, on a consolidated basis, do not have
unreasonably small capital with which to conduct the business in which they are engaged
as such business is now conducted and is proposed to be conducted following the Initial
Borrowing Date. The amount of contingent liabilities at any time shall be computed as the
amount that can reasonably be expected to become an actual and matured liability.  

ARTICLE IV  

Conditions

        SECTION
4.01.    Effective  Date. This Agreement will not become
 effective  until the date on which each of the following  conditions is satisfied (or
waived in accordance with Section 9.02): 

74 

        (a)                 The
Administrative Agent (or its counsel) shall have received from each party           (but
excluding the Target Group) to each Credit Document set forth in Schedule           4.01
either (i) a counterpart of such Credit Document signed on behalf of such           party
or (ii) written evidence satisfactory to the Administrative Agent (which           may
include telecopy or electronic transmission of a signed signature page of           this
Agreement) that such party has signed a counterpart of such Credit           Document.  

        (b)                 The
Administrative Agent shall have received a certificate, dated the Effective
          Date and signed by the President, a Vice President or a Financial Officer of
the           Borrower, confirming that as of the Effective Date, giving effect to the
          execution and delivery of the Credit Documents on such date, (i) the
          representations and warranties of the Borrower set forth in this Agreement are
          true and correct and (ii) no Default has occurred and is continuing.  

        (c)                 The
Administrative Agent shall have received (i) satisfactory audited           consolidated
financial statements of each of the Borrower and, to the extent           available, the
Target for the three most recent fiscal years ended prior to the           Effective Date
for which such financial statements are available, and (ii)           satisfactory
unaudited interim consolidated financial statements of each of the           Borrower
and, to the extent available, the Target for each quarterly (or in the           case of
the Target, semi-annual) period subsequent to the date of the latest           financial
statements delivered pursuant to clause (i) of this paragraph as to           which such
financial statements are available, and (iii) to the extent           available,
management accounts of the Target for each month, ended subsequent to           the date
of the latest financial statements delivered pursuant to clause (ii) of           this
paragraph as to which such management accounts are available.  

        (d)                 The
Administrative Agent shall have received (i) a pro forma consolidated           balance
sheet of the Borrower and its Subsidiaries (including, to the extent           available,
the Target Group) as at December 31, 2007 (the “Reference           Date”)
and (ii) a pro forma consolidated income statement and statement           of operations
of the Borrower and its Subsidiaries (including, to the extent           available, the
Target Group) for the four fiscal quarter period ending on the           Reference Date,
in each case adjusted to give effect to the consummation of the           Acquisition and
the financings contemplated hereby as if such transactions, with           respect to the
pro forma balance sheet, had occurred on the Reference Date and,           with respect
to the pro forma statement of operations and income statement, had           occurred on
the first day of the four fiscal quarter period ending on the           Reference Date,
in each case prepared in a manner reasonably acceptable to the           Administrative
Agent and consistent in all material respects with the forecasts           previously
provided to the Administrative Agent.  

        (e)                 The
Administrative Agent shall have received reasonably satisfactory projections
          for the Borrower and its Subsidiaries (including the Target Group) through
2012.  

        (f)                 The
Administrative Agent shall have received (or arrangements satisfactory to           the
Administrative Agent shall have been made for the payment of) all fees and
          other amounts due and payable on or prior to the Effective Date, including, to
          the extent invoiced, reimbursement or payment of all out-of-pocket expenses
          required to be reimbursed or paid by the Borrower hereunder.  

75 

        (g)                 The
Administrative Agent shall have received such duly completed UCC-1 financing
          statements as the Administrative Agent shall have requested to perfect its
          security interest in the Collateral and such copies of searches of financing
          statements filed under the UCC, together with tax lien and judgment searches
          with respect to the assets of the Borrower and the Subsidiary Guarantors, in
          both cases in such jurisdictions as the Administrative Agent may request.  

        (h)                 The
Administrative Agent shall have received a favorable written opinion           (addressed
to the Administrative Agent and the Lenders and dated the Effective           Date) of
(i) Foley & Lardner LLP, counsel for the Borrower, and (ii) Allen           & Overy,
special UK counsel for the Administrative Agent, in each case in           form and
substance satisfactory to the Administrative Agent and its counsel. The
          Borrower hereby requests such counsel to deliver such opinions.  

        (i)                 The
Administrative Agent shall have received documents and certificates relating           to
the organization, existence and good standing of each Borrower and each
          Subsidiary Guarantor and the authorization of the Transactions in form and
          substance satisfactory to the Administrative Agent and its counsel.  

        (j)                 The
Administrative Agent shall have received a reasonably satisfactory solvency
          certificate from a Financial Officer of the Borrower as to the solvency of the
          Borrower and its Subsidiaries (other than the Target and its Subsidiaries)
after           giving effect to the Transactions.  

The Administrative Agent shall notify
the Borrower and the Lenders promptly of the occurrence of the Effective Date and such
notice shall be conclusive and binding on all parties hereto. Notwithstanding the
foregoing, the Effective Date shall not occur unless each of the foregoing conditions is
satisfied (or waived pursuant to Section 9.02) at or prior to 5:00 p.m., New York City
time, on April 14, 2008. 

        SECTION
4.02.    Initial Funding. The obligations of the Lenders to
make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become
effective until the date on which the Agreement has become effective pursuant to Section
4.01 and each of the following conditions is satisfied (or waived in accordance with
Section 9.02):  

        (a)                 The
Administrative Agent shall have received a certificate, dated the Initial
          Borrowing Date and signed by the President, a Vice President or a Financial
          Officer of the Borrower, confirming compliance as of such date with the
          conditions set forth in paragraphs (a), (b) and (c) of Section 4.03 or, with
          respect to Certain Funds Loans during the Certain Funds Period, the conditions
          set forth in Section 4.04(a).  

        (b)                 The
Administrative Agent shall have received all fees and other amounts due and
          payable on or prior to the Initial Borrowing Date, including, to the extent
          invoiced, reimbursement or payment of all out of pocket expenses required to be
          reimbursed or paid by the Borrower hereunder.  

        (c)                 (i)
The Administrative Agent shall have received evidence that the Borrower has
          delivered to the Existing Agent an irrevocable notice with respect to the
          Existing Credit Agreement, notifying the Existing Agent that on the Initial
          Borrowing Date, the total commitments under the Existing Credit Agreement will
          be terminated, all loans thereunder will be repaid in full, together with
          interest thereon, all letters of credit, if any, issued thereunder will be
          terminated (or shall constitute Existing Letters of Credit hereunder) and all
          other amounts owing pursuant to the Existing Credit Agreement and all
agreements           related thereto will be repaid in full and (ii) the Borrower shall
have           irrevocably directed the Administrative Agent to disburse to the Existing
Agent           out of the proceeds of Loans being made on the Initial Borrowing Date an
amount           sufficient to effect such repayment in full.  

76 

        (d)                 The
Administrative Agent shall have received (i) all stock (or unit)           certificates
evidencing all Equity Interests to be pledged pursuant to the US           Pledge
Agreement, accompanied by stock (or unit) powers executed in blank, and           all
notes to be pledged pursuant to the US Pledge Agreement (including notes
          evidencing indebtedness required to be so evidenced pursuant to Section 6.05),
          accompanied by note powers executed in blank (provided that to the
extent           that such certificates are in the possession of the Existing Agent, this
          condition shall be satisfied by receipt by the Administrative Agent of evidence
          that the Borrower has irrevocably directed the Existing Agent to immediately
          deliver upon termination of commitments and repayment of amounts due under the
          Existing Credit Agreement, all such certificates to the Administrative Agent),
          (ii) all share certificates evidencing all Equity Interests in Newco to be
          charged pursuant to the UK Security Agreement, accompanied by executed and
          (unless exempt from stamp duty), pre-stamped share transfers with the
transferee           left blank, and (iii) pledged certificates or statements of pledge,
as           applicable, in the form attached to the French Pledge Agreement.  

        (e)                 Substantially
contemporaneously with the making of the initial Loans, the           Administrative
Agent will receive duly executed copies of (Mortgages (in           substantially the
form of Exhibit E or F, as applicable) with respect to the           Real Property and
leasehold mortgages identified on Schedule 4.02.  

        (f)                 In
the case of an Offer, the Administrative Agent shall have received evidence
          that the board of directors of the Target shall have recommended the
          Acquisition.  

        (g)                 The
Administrative Agent shall have received certified copies of the Acquisition
          Documents (it being acknowledged that if the Scheme Document and Offer Document
          conform with Sections 5.14(a)(iv) and 5.15(a)(iv), respectively, they shall be
          satisfactory to the Administrative Agent).  

        (h)                 The
Administrative Agent shall have received a certificate of the Borrower dated           no
earlier than the Initial Borrowing Date confirming and attaching evidence           that,
(i) the Unconditional Date has occurred, (ii) (A) the European Commission           has
taken a decision that it will not initiate proceedings under Article 6(1)(c)           of
the EC Merger Regulation, (B) the European Commission has taken a decision           (or
has been deemed to have taken a decision) to refer the whole or part of the
          Offer or Scheme to the competent authorities of one or more member states of
the           European Union under Article 9(3) of the EC Merger Regulation; and (x) each
such           authority has taken a decision with equivalent effect to that referred to
in           Section 4.02(h)(ii)(A) with respect to those parts of the Offer or Scheme
          referred to it; and (y) the European Commission has taken any of the decisions
          referred to in Section 4.02(h)(ii)(A) with respect to any part of the Offer or
          Scheme retained by it; and (C) all required filings have been made and any
          waiting period, including any extensions thereof, applicable under the United
          States Hart-Scott-Rodino Antitrust Improvements Act of 1976 (as amended) and
the           regulations made thereunder has expired, lapsed or been terminated, (iii)
Newco           has not agreed to any arrangements with any Governmental Authority in
order to           satisfy any term or condition of the Offer or Scheme without the
consent of the           Required Lenders (other than the disposition of certain
subsidiaries or           businesses of the Borrower or Target) and (iv) either (A) the
Acquisition is           being effected by means of the Scheme or (B) if not, each of the
Lenders shall           have consented to the Acquisition being effected by means of the
Offer.  

77 

The Administrative Agent shall notify
the Borrower and the Lenders promptly of the Initial Borrowing Date, and such notice shall
be conclusive and binding. Notwithstanding the foregoing, the obligations of the Lenders
to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not
become effective unless each of the foregoing conditions is satisfied (or waived pursuant
to Section 9.02) at or prior to 3:00 p.m., New York City time, on the last day of the
Certain Funds Period (and, in the event such conditions are not so satisfied or waived,
the Commitments shall terminate at such time). 

        SECTION
4.03.    Each Credit Event. The obligation of each Lender to
make a Loan on the occasion of any Borrowing, and of the Issuing Bank to issue, amend,
renew or extend any Letter of Credit, is subject to the satisfaction of the following
conditions:  

        (a)                 The
representations and warranties of each Credit Party set forth in the Credit
          Documents shall be true and correct in all material respects (except that any
          representation or warranty which is already qualified as to materiality or by
          reference to Material Adverse Effect shall be true and correct in all respects)
          on and as of the date of such Borrowing (other than representations and
          warranties that relate solely to an earlier date) or the date of issuance,
          amendment, renewal or extension of such Letter of Credit, as applicable.  

        (b)                 At
the time of and immediately after giving effect to such Borrowing or the
          issuance, amendment, renewal or extension of such Letter of Credit, as
          applicable, no Default shall have occurred and be continuing.  

        (c)                 The
requested extension of credit is permitted by the Senior Note Documents.  

Each Borrowing and each issuance,
amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a
representation and warranty by each Borrower on the date thereof as to the matters
specified in paragraphs (a), (b) and (c) of this Section. 

        SECTION
4.04.    Conditions during Certain Funds Period. 

        (a)                      Notwithstanding
Section 4.03, the obligation of each Lender to make Certain                Funds Loans
during the Certain Funds Period is only subject to the conditions                set
forth in Sections 4.01 and 4.02 and the further conditions that at the time
               of the Borrowing Request with respect to such Loan and at the time of such
Loan                being made:  

	 	        (i)                      the
Major Representations are true and correct in all respects and will be true
               and correct immediately after the Loan is made;  

78 

	 	        (ii)                      no
Major Default shall have occurred and be continuing or would result from the
               proposed Loan; and  

	 	        (iii)                      it
is not unlawful for such Lender to make the requested Loans.  

        (b)                      During
the Certain Funds Period (other than in circumstances where a Lender is
               not obligated to make a requested Loan pursuant to paragraph (a) above),
none of                the Lenders or the Administrative Agent or the Collateral Agent
shall be                entitled to:  

	 	        (i)                      cancel
any of its Commitments to the extent to do so would prevent or limit the
               making of a Certain Funds Loan;  

	 	        (ii)                      rescind,
terminate or cancel this Agreement or any of the Commitments or                exercise
any similar right or remedy or make or enforce any claim under the                Credit
Documents it may have to the extent to do so would prevent or limit the
               making of a Certain Funds Loan;  

	 	        (iii)                      refuse
to participate in the making of a Certain Funds Loan;  

	 	        (iv)                      exercise
any right of set-off or counterclaim in respect of a Loan to the extent                to
do so would prevent or limit the making of a Certain Funds Loan; or  

	 	        (v)                      cancel,
accelerate or cause repayment or prepayment of any amounts owing                hereunder
or under any other Credit Document to the extent to do so would                prevent or
limit the making of a Certain Funds Loan;  

provided that immediately upon the
expiry of the Certain Funds Period all such rights, remedies and entitlements shall be
available to the Lenders, the Administrative Agent and the Collateral Agent
notwithstanding that they may not have been used or been available for use during the
Certain Funds Period. 

ARTICLE V  

Affirmative Covenants 

        From
the date hereof until the Commitments have expired or terminated and the principal of and
interest on each Loan and all fees payable hereunder have been paid in full and all
Letters of Credit have expired or terminated and all LC Disbursements shall have been
reimbursed, the Borrower covenants and agrees with the Lenders that: 

        SECTION
5.01.    Financial Statements and Other Information.  The
Borrower will furnish to the Administrative Agent and each Lender: 

        (a)                 within
90 days after the end of each fiscal year of the Borrower, its audited
          consolidated balance sheet and related statements of operations,
          stockholders’ equity and cash flows as of the end of and for such year,
          setting forth in each case in comparative form the figures for the previous
          fiscal year, all reported on by PricewaterhouseCoopers LLP or other independent
          public accountants of recognized national standing (without a “going
          concern” or like qualification or exception and without any qualification
          or exception as to the scope of such audit) to the effect that such
consolidated           financial statements present fairly in all material respects the
financial           condition and results of operations of the Borrower and its
consolidated           Subsidiaries on a consolidated basis in accordance with GAAP
consistently           applied;  

79 

        (b)                 within
45 days after the end of each of the first three fiscal quarters of each           fiscal
year of the Borrower, its consolidated balance sheet and related           statements of
operations, stockholders’ equity and cash flows as of the end           of and for
such fiscal quarter and the then elapsed portion of the fiscal year,           setting
forth in each case in comparative form the figures for the corresponding           period
or periods of (or, in the case of the balance sheet, as of the end of)           the
previous fiscal year, all certified by one of its Financial Officers as
          presenting fairly in all material respects the financial condition and results
          of operations of the Borrower and its consolidated Subsidiaries on a
          consolidated basis in accordance with GAAP consistently applied, subject to
          normal year-end audit adjustments and the absence of footnotes;  

        (c)                 concurrently
with any delivery of financial statements under clause (a) or (b)           above, a
certificate of a Financial Officer of the Borrower (i) certifying as to           whether
a Default has occurred and, if a Default has occurred, specifying the           details
thereof and any action taken or proposed to be taken with respect           thereto, (ii)
setting forth reasonably detailed calculations (x) of the amount           of “Permitted
Indebtedness” (as described in part (2) of the           definition thereof in the
Senior Note Indenture) then outstanding and then           permitted to be incurred by
the terms of the Senior Note Indenture and (y)           demonstrating compliance with
Sections 6.07 through 6.08 and 6.15 and 6.16,           (iii) stating whether any change
in GAAP or in the application thereof has           occurred since the date of the
audited financial statements referred to in           Section 3.04 and, if any such
change has occurred, specifying the effect of such           change on the financial
statements accompanying such certificate and (iv) if the           assets, liabilities or
results of operations of any FIN 46 Subsidiary are           reflected in such financial
statements, attaching such additional information,           all certified by a Financial
Officer of the Borrower and in form and detail           satisfactory to the
Administrative Agent, as may be necessary to permit           computation of all amounts
relevant to the determination of the Borrower’s           compliance with this
Agreement (taking into account the fact that FIN 46           Subsidiaries and their
respective assets, liabilities and results of operations           are excluded from all
computations made on a consolidated basis for the Borrower           and its Subsidiaries
hereunder);  

        (d)                 concurrently
with any delivery of financial statements under clause (a) above, a           certificate
of the accounting firm that reported on such financial statements           stating
whether they obtained knowledge during the course of their examination           of such
financial statements of any Default (which certificate may be limited to           the
extent required by accounting rules or guidelines);  

        (e)                 promptly
after the same become publicly available, copies of all periodic           reports
(including reports on Form 8-K), proxy statements and other financial           materials
filed by the Borrower or any Subsidiary with the Securities and           Exchange
Commission, or any Governmental Authority succeeding to any or all of           the
functions of said Commission, or with any national securities exchange, or
          distributed by the Borrower to its shareholders generally, as the case may be;  

80 

        (f)                 promptly
following any request therefor, such other information regarding the
          operations, business affairs and financial condition of the Borrower or any
          Subsidiary, or compliance with the terms of this Agreement, as the
          Administrative Agent or any Lender may reasonably request;  

        (g)                 no
later than 60 days following the first day of each fiscal year of the           Borrower,
a budget in form reasonably satisfactory to the Administrative Agent           (including
budgeted statements of income, sources and uses of cash and balance           sheets) for
the Borrower and its Subsidiaries on a consolidated basis prepared           by the
Borrower for each of the four fiscal quarters of such fiscal year           prepared in
detail, setting forth, with appropriate discussion, the principal           assumptions
upon which such budgets are based; and  

        (h)                 promptly
after the delivery thereof, copies of all financial information, proxy
          materials and reports which the Borrower or any of its Subsidiaries shall
          deliver to holders (or any trustee, agent or representative therefor) of any of
          its other Material Indebtedness in each case pursuant to the terms of the
          documentation governing such Material Indebtedness.  

Any financial statement or other
material required to be delivered pursuant to this Section 5.01 shall be deemed to have
been furnished to the Lenders on the date that an electronic copy of such financial
statement or other material is provided to the Administrative Agent; provided that
the Borrower will furnish paper copies of such financial statements and other materials to
any Lender that requests, by notice to the Borrower, that the Borrower do so, until the
Borrower receives notice from such Lender to cease delivering such paper copies. 

        SECTION
5.02.    Notices of Material Events. The Borrower will furnish
to the Administrative Agent and each Lender written notice of the following promptly upon
an officer of the Borrower obtaining knowledge thereof:  

        (a)                 the
occurrence of any Default;  

        (b)                 the
filing or commencement of any action, suit or proceeding by or before any
          arbitrator or Governmental Authority against or affecting the Borrower or any
          Affiliate thereof that, if adversely determined, could reasonably be expected
to           result in a Material Adverse Effect;  

        (c)                 the
occurrence of any ERISA Event that, alone or together with any other ERISA
          Events that have occurred, could reasonably be expected to result in liability
          of the Borrower and its Subsidiaries in an aggregate amount exceeding
          $5,000,000; and  

        (d)                 any
other development that results in, or could reasonably be expected to result
          in, a Material Adverse Effect.  

Each notice delivered under this
Section shall be accompanied by a statement of a Financial Officer or other executive
officer of the Borrower setting forth the details of the event or development requiring
such notice and any action taken or proposed to be taken with respect thereto. 

81 

        SECTION
5.03.    Existence; Conduct of Business. The Borrower will,
and will cause each of its Material Subsidiaries to, do or cause to be done all things
necessary to preserve, renew and keep in full force and effect its legal existence and
the rights, licenses, permits, privileges and franchises material to the conduct of its
business; provided that the foregoing shall not prohibit any sale of assets,
merger, consolidation, liquidation or dissolution permitted under Section 6.03.  

        SECTION
5.04.    Payment of Obligations. The Borrower will, and will
cause each of its Subsidiaries to, pay its obligations, including Tax liabilities, that,
if not paid, could result in a Material Adverse Effect before the same shall become
delinquent or in default, except where (a) the validity or amount thereof is being
contested in good faith by appropriate proceedings, (b) the Borrower or such Subsidiary
has set aside on its books adequate reserves with respect thereto in accordance with GAAP
and (c) the failure to make payment pending such contest could not reasonably be expected
to result in a Material Adverse Effect.  

        SECTION
5.05.    Maintenance of Properties; Insurance. The Borrower
will, and will cause each of its Material Subsidiaries to, (a) keep and maintain all
property material to the conduct of its business in good working order and condition,
ordinary wear and tear excepted, (b) maintain, with financially sound and reputable
insurance companies, insurance in such amounts and against such risks as are customarily
maintained by companies engaged in the same or similar businesses operating in the same
or similar locations and (c) cause all insurance policies or certificates, as requested
by the Administrative Agent, to be endorsed to the benefit of the Administrative Agent
(including, without limitation, by naming the Administrative Agent as loss payee and/or
additional insured). If the Borrower or any of its Material Subsidiaries shall fail to
maintain insurance in accordance with this Section 5.05, or if the Borrower or any of its
Material Subsidiaries shall fail to so endorse and deliver all policies or certificates
with respect thereto, the Administrative Agent shall have the right (but shall be under
no obligation) to procure such insurance and the Borrower agrees to reimburse the
Administrative Agent for all reasonable costs and expenses of procuring such insurance.  

        SECTION
5.06.    Books and Records; Inspection Rights. The Borrower
will, and will cause each of its Subsidiaries to, keep proper books of record and account
in which full, true and correct entries are made of all dealings and transactions in
relation to its business and activities. The Borrower will, and will cause each of its
Subsidiaries to, permit any representatives designated by the Administrative Agent or any
Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and
make extracts from its books and records, and to discuss its affairs, finances and
condition with its officers and independent accountants, all at such reasonable times and
as often as reasonably requested.  

        SECTION
5.07.    Compliance with Laws and Material Contractual Obligations.
The Borrower will, and will cause each of its Subsidiaries to, comply with (a) all laws,
rules, regulations and orders of any Governmental Authority applicable to it or its
property, and (b) all material contractual obligations, except in each case, where the
failure to do so, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect.  

82 

        SECTION
5.08.    Use of Proceeds and Letters of Credit. The proceeds
of the Loans will be used for general corporate purposes, including to refinance existing
Indebtedness of the Borrower and its Subsidiaries, to finance the Acquisition, to pay
related fees and expenses. No part of the proceeds of any Loan will be used, whether
directly or indirectly, to purchase or carry Margin Stock or for any purpose that entails
a violation of any of the Regulations of the Board, including Regulations T, U and X.
Letters of Credit will be issued only to support the ordinary course of business
operations of the Borrower and its Subsidiaries.  

        SECTION
5.09.    Compliance with Environmental Laws. (a)  The
Borrower will comply, and will cause each of its Subsidiaries to comply, with all
Environmental Laws and permits applicable to, or required by, the ownership, lease or use
of its Real Property now or hereafter owned, leased or operated by the Borrower or any of
its Subsidiaries, except such noncompliances as could not, either individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect, and will promptly
pay or cause to be paid all costs and expenses incurred in connection with such
compliance, and will keep or cause to be kept all such Real Property free and clear of
any Liens imposed pursuant to such Environmental Laws. Neither the Borrower nor any of
its Subsidiaries will generate, use, treat, store, Release or dispose of, or permit the
generation, use, treatment, storage, Release or disposal of Hazardous Materials on any
Real Property now or hereafter owned, leased or operated by the Borrower or any of its
Subsidiaries, or transport or permit the transportation of Hazardous Materials to or from
any such Real Property, except for Hazardous Materials generated, used, treated, stored,
Released or disposed of at any such Real Properties in compliance in all material
respects with all applicable Environmental Laws and as required in connection with the
normal operation, use and maintenance of the business or operations of the Borrower or
any of its Subsidiaries and which could not, either individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.  

        (b)                 (i)  After
the receipt by the Administrative Agent or any Lender of           any notice of material
non-compliance with any Environmental Law by the Borrower           or any of its
Subsidiaries or with respect to any Real Property owned, leased or           operated by
the Borrower or any of its Subsidiaries, (ii) at any time that the           Borrower or
any of its Subsidiaries are not in compliance with Section 5.09(a)           or (iii) in
the event that the Administrative Agent or the Lenders have           exercised any of
the remedies pursuant to Article VII, the Borrower will (in           each case) provide,
at the sole expense of the Borrower and at the request of           the Administrative
Agent, an environmental site assessment report concerning           such Real Property
(or, in the case of clause (iii) above, any Real Property           owned, leased or
operated by the Borrower or any of its Subsidiaries), prepared           by an
environmental consulting firm reasonably approved by the Administrative           Agent,
indicating the presence or absence of Hazardous Materials and the           potential
cost of any removal or remedial action in connection with such           Hazardous
Materials on such Real Property. If the Borrower fails to provide the           same
within 30 days after such request was made, the Administrative Agent may           order
the same, the cost of which shall be borne by the Borrower, and the           Borrower
shall grant and hereby grants to the Administrative Agent and the           Lenders and
their respective agents access to such Real Property and           specifically grants
the Administrative Agent and the Lenders an irrevocable           non-exclusive license,
subject to the rights of tenants, to undertake such an           assessment at any
reasonable time upon reasonable notice to the Borrower, all at           the sole expense
of the Borrower.  

83 

        SECTION
5.10.    Further Assurances; etc. (a)(i)The Borrower will, and
will cause each of its Subsidiaries to, at the expense of the Borrower, make, execute,
endorse, acknowledge, file and/or use commercially reasonable efforts to deliver to
the Collateral Agent from time to time such schedules, confirmatory assignments,
financing statements, transfer endorsements, certificates, reports, landlord waivers and
other assurances or instruments and take such further steps relating to the Collateral
covered by any of the Security Documents as the Collateral Agent may reasonably require
and as are generally consistent with the terms of this Agreement and the Security
Documents and are necessary to effectuate the intent of said agreements.  

        (ii)                 Without
limiting the foregoing, on or prior to the Initial Borrowing Date, the           Borrower
will, and will cause each of its Subsidiaries to use commercially           reasonable
efforts to (A) deliver to the Administrative Agent a landlord           waiver with
respect to each parcel of Real Property leased by the Borrower or           any of the
Subsidiary Guarantors, identified on Schedule 3.05 hereto and           requested by the
Administrative Agent, each in form and substance reasonably acceptable to the
Administrative Agent and (B) deliver to the Administrative           Agent such bailee
letters with respect to Collateral held by third parties           identified on Schedule
3.05 hereto and requested by the Administrative Agent, in           form and substance
reasonably acceptable to the Administrative Agent or, in the           case of either (A)
or (B) make arrangements reasonably satisfactory to           the Administrative
Agent for the delivery of such waivers or letters.  

        (iii)                 Without
limiting the foregoing, on or prior to the Initial Borrowing Date, the           Borrower
will cause to be delivered to the Administrative Agent the following           with
respect to each parcel of Real Property which is subject to a Lien pursuant           to
a Mortgage, each in form and substance reasonably satisfactory to the
          Administrative Agent: (A) an ALTA mortgagee title insurance policy (or a
          commitment to issue such a policy, which policy would be issued at the
          Borrower’s expense within a reasonable time period acceptable to the
          Administrative Agent) re in an amount equal to at least 100% (or solely with
          respect to the Real Property located at 1565 Buchanan Trail East, Shady Grove,
          PA 17256, 110%) of the value of the subject Real Property as reasonably
          determined by the Administrative Agent and including such affirmative coverage
          endorsements as reasonably required by Administrative Agent; (B) an ALTA survey
          prepared and certified to the Administrative Agent by a surveyor acceptable to
          the Administrative Agent dated within ten (10) days of the date of the
recording           of the Mortgage and including such Table A items as reasonably
requested by the           Administrative Agent, but only if the title company will not
provide survey           coverage without such survey; (C) an opinion of counsel from the
state in which           such Real Property is located in substantially the form attached
hereto as           Exhibit G, or such other form as is reasonably acceptable to
Administrative           Agent and (D) such other information,
documentation,           consents and certifications with respect to such Real Property
as the           Administrative Agent may reasonably require.  

        (iv)                 Without
limiting the foregoing, on or prior to the Initial Borrowing Date, the           Borrower
will cause to be delivered to the Administrative Agent insurance           certificates
or binders naming the Collateral Agent, on behalf of the Secured           Creditors, as
loss payee for any property insurance policies and additional           insured for any
general, excess or umbrella, automobile, marine or other similar           liability
policies, in form and substance acceptable to the Administrative Agent           (other
than in respect of the Target and its Subsidiaries).  

84 

        (b)                 The
Borrower agrees that each action required by clause (a) of this Section 5.10
          shall be completed as soon as possible, but in no event later than 60 days
after           such action is requested to be taken by the Administrative Agent or the
Required           Lenders (or, if the Borrower is diligently pursuing such action, such
longer           period of time as the Administrative Agent may reasonably specify); provided that
in no event will the Borrower or any of its Subsidiaries be           required to take
any action, other than using its commercially reasonable best           efforts, to
obtain consents from third parties with respect to its compliance           with this
Section 5.10.  

        (c)                 If,
following a change in the relevant sections of the Code or the regulations,
          rules, rulings, notices or other official pronouncements issued or promulgated
          thereunder, the Borrower does not within 30 days after a request from the
          Administrative Agent or the Required Lenders deliver evidence, in form and
          substance reasonably satisfactory to the Administrative Agent (which evidence
          may be in the form of an opinion of counsel), with respect to any Foreign
          Subsidiary of the Borrower which has not already had all of its stock pledged
          pursuant to the US Pledge Agreement that (i) a pledge of 65% or more of the
          total combined voting power of all classes of capital stock of such Foreign
          Subsidiary entitled to vote and (ii) the entering into by such Foreign
          Subsidiary of a guarantee in substantially the form of the Subsidiary Guaranty,
          in any such case could reasonably be expected to cause (I) any undistributed
          earnings of such Foreign Subsidiary as determined for Federal income tax
          purposes to be treated as a deemed dividend to such Foreign Subsidiary’s
          United States parent for Federal income tax purposes or (II) other Federal
          income tax consequences to the Credit Parties having an adverse financial
          consequence to any Credit Party in any material respect, then in the case of a
          failure to deliver the evidence described in clause (i) above, that portion of
          such Foreign Subsidiary’s outstanding capital stock not theretofore
pledged           pursuant to the US Pledge Agreement shall be promptly pledged to the
Collateral           Agent for the benefit of the Secured Creditors pursuant to the US
Pledge           Agreement (or another pledge agreement in substantially similar form, if
          needed), and in the case of a failure to deliver the evidence described in
          clause (ii) above such Foreign Subsidiary shall promptly execute and deliver
the           Subsidiary Guaranty (or another guarantee in substantially similar form, if
          needed), guaranteeing the obligations of the Borrower under the Credit
Documents           and under any Swap Agreement entered into with a Secured Creditor, in
each case to the extent that the entering into of the US Pledge Agreement or
          Subsidiary Guaranty is permitted by the laws of the respective foreign
          jurisdiction and with all documents delivered pursuant to this Section 5.10(c)
          to be in form and substance reasonably satisfactory to the Administrative
Agent.           Notwithstanding the foregoing, (i) the Administrative Agent shall not
take a           security interest in those assets as to which the Administrative Agent
shall           determine, in its reasonable discretion, that the cost of obtaining such
Lien           (including any mortgage, stamp, intangibles or other tax, title insurance
or           similar items) is excessive in relation to the benefit to the Lenders of the
          security afforded thereby and (ii) no Foreign Subsidiary shall be required to
          guarantee the Obligations or provide collateral therefor to the extent such
          guarantee or collateral could reasonably be expected to result in personal
          liability to its directors or is otherwise prohibited by applicable law.  

        (d)                 As
soon as reasonably practicable on or after the Unconditional Date and in any
          event no later than ten Business Days after the Unconditional Date, the
Borrower           shall deliver to the Administrative Agent a true and correct schedule
of each           subsidiary of Target, including as of the Unconditional Date, (i) the
percentage           ownership (direct or indirect) of the Target, as applicable, in each
class of           capital stock or other equity of its subsidiaries and the identity of
the direct           owner thereof, and (ii) the jurisdiction of organization of each
such           subsidiary.  

85 

        SECTION
5.11.    Ownership of Subsidiaries; etc. Except as otherwise
permitted by Section 6.05(c) or (m) or pursuant to a Permitted Acquisition consummated in
accordance with the terms of this Agreement, the Borrower will directly or indirectly own
100% of the capital stock or other equity interests of each of its Subsidiaries (other
than, in the case of Foreign Subsidiaries, director’s qualifying shares and/or other
nominal amounts of shares required to be held by Persons other than the Borrower and its
Subsidiaries under applicable law).  

        SECTION
5.12.    Margin Regulations. The Borrower will take all
actions so that at all times the fair market value of all Margin Stock owned by the
Borrower and its Subsidiaries (other than capital stock of the Borrower held in treasury)
shall not exceed $2,500,000. So long as the covenant contained in the immediately
preceding sentence is complied with, all Margin Stock at any time owned by the Borrower
and its Subsidiaries will not constitute Collateral and no security interest shall be
granted therein pursuant to any Credit Document. Without excusing any violation of the
first sentence of this Section 5.12, if at any time the fair market value of all Margin
Stock owned by the Borrower and its Subsidiaries (other than capital stock of the
Borrower held in treasury) exceeds $2,500,000, then (a) all Margin Stock owned by the
Credit Parties (other than capital stock of the Borrower held in treasury) shall be
pledged, and delivered for pledge, pursuant to the US Pledge Agreement and (b) the
Borrower will execute and deliver to the Lenders appropriate completed forms (including,
without limitation, Forms G-3 and U-1, as appropriate) establishing compliance with
Regulations T, U and X. If at any time any Margin Stock is required to be pledged as a
result of the provisions of the immediately preceding sentence, repayments of outstanding
obligations hereunder shall be required, and subsequent makings of Loans and issuances of
Letters of Credit shall be permitted, only in compliance with the applicable provisions
of Regulations T, U and X.  

        SECTION
5.13.    Additional Guarantors and Collateral. (a) Effective
upon any Domestic Subsidiary (other than an SPC) which is not a Material Subsidiary on
the date hereof (either because it is not a Subsidiary on the date hereof or because it
does not on the date hereof meet the other criteria of a Material Subsidiary) becoming a
Material Subsidiary, the Borrower shall cause such Domestic Subsidiary within ten
Business Days (or, solely with respect to any subsidiary of the Target which, giving
effect to the Acquisition, is a Domestic Subsidiary which is a Material Subsidiary,
within 45 days after the Initial Borrowing Date) to (i) execute and deliver to the
Administrative Agent for the benefit of the Secured Creditors a joinder to the Subsidiary
Guaranty and (ii) pledge to the Administrative Agent for the benefit of the Secured
Creditors a first priority security interest in (A) all personal property owned by such
Person pursuant to a security or pledge agreement substantially similar to the US
Security Agreement or, as applicable US Pledge Agreement (or pursuant to a joinder
agreement to the US Security Agreement or US Pledge Agreement in form satisfactory to the
Administrative Agent) and (B) all real property (including leasehold interests) having a
fair market value in excess of $5,000,000 owned by such Person pursuant to a Mortgage in
form satisfactory to the Administrative Agent. The Borrower shall promptly notify the
Administrative Agent at any time at which any Domestic Subsidiary becomes a Material
Subsidiary.  

86 

        (b)                 If
at any time, more than 45 days after the Initial Borrowing Date, the           aggregate
assets of all Domestic Subsidiaries of the Borrower that are not           Subsidiary
Guarantors which have pledged their assets to secure the Obligations           (any such
Subsidiary, a “Non-Subject Subsidiary”) exceed ten           percent
(10%) of the consolidated total assets of the Borrower and its           Subsidiaries,
then the Borrower shall cause one or more of such Non-Subject           Subsidiaries
(other than any SPC) to promptly (i) execute a Subsidiary Guaranty           and (ii)
pledge to the Administrative Agent for the benefit of the Secured           Creditors a
first priority security interest in (A) all personal property owned           by such
Person pursuant to a security or pledge agreement substantially similar           to the
US Security Agreement or, as applicable, US Pledge Agreement (or pursuant           to a
joinder agreement to the US Security Agreement or US Pledge Agreement in           form
satisfactory to the Administrative Agent) and (B) all real property           (including
leaseholds) having a fair market value in excess of $5,000,000 owned           by such
Person pursuant to a Mortgage in form satisfactory to the Administrative           Agent,
so that the aggregate assets of all Non-Subject Subsidiaries do not           exceed ten
percent (10%) of the consolidated total assets of the Borrower and           its
Subsidiaries.  

        (c)                 Without
limiting the provisions of Sections 5.10(c) or 5.13, the Borrower agrees           that
within 60 days after the Initial Borrowing Date (and periodically           thereafter as
the Administrative Agent may request) it will identify to the           Administrative
Agent by written notice each Foreign Subsidiary of the Borrower           which may (i)
become a guarantor of some or all of the Obligations, (ii) have           65% or more of
its Equity Interests pledged to secure some or all of the           Obligations or (iii)
pledge its assets to secure some or all of the Obligations           (each of the
foregoing being “Credit Support”), in each case (A)           without having an
adverse tax or other financial consequence to the Borrower or           any of its
Subsidiaries in any material respect, (B) solely to the extent any of           the
foregoing actions could not reasonably be expected to result in personal
          liability to the directors of such Foreign Subsidiary and (C) solely to the
          extent any of the foregoing actions are not otherwise prohibited by applicable
          law (any of the actions described in (i) – (iii) above which do not have
          any of the consequences described in (A) – (C) above being “Permitted
          Credit Support”). Such notice shall not be required to identify Foreign
          Subsidiaries already providing Credit Support which are not required to provide
          incremental Credit Support pursuant to this section.  

        (d)                 Within
30 days after the delivery of such notice pursuant to Section 5.13(c) (or           such
longer period to which the Administrative Agent may agree) the Borrower           will
cause the applicable Foreign Subsidiary (or the Subsidiary which is the           holder
of Equity Interests therein, as applicable) to provide the applicable           Permitted
Credit Support pursuant to such documentation (including certificates           and
opinions of counsel) as the Administrative Agent may reasonably request           (which
documentation shall provide equal and ratable credit support for Swap
          Agreements and Banking Product Agreements (as defined in the US Security
          Agreement) to the same extent as provided in the US Security Agreement). To the
          extent that provision of Credit Support by any Foreign Subsidiary would
          constitute Permitted Credit Support but for the completion by such Foreign
          Subsidiary or its parent entity of the Section 155 to 158 of the Company’s
          Act financial assistance whitewash procedure or any similar procedure (a
          “Whitewash”), then such Foreign Subsidiary shall be included
in           the notice referred to above and the Borrower shall cause such Foreign
          Subsidiary (or, if applicable, its parent entity) (i) to take all commercially
          reasonable steps necessary to complete such Whitewash as soon as practicable
and           (ii) following completion of the Whitewash, to take the actions described
in the           first sentence of this Section 5.13(d) within 30 days (or such longer
period to           which the Administrative Agent may agree) thereafter. Notwithstanding
the           foregoing, (i) no Lien shall be taken pursuant to this Section 5.13(d) in
any           assets as to which the Administrative Agent shall determine, in its
reasonable           discretion, that the cost of obtaining such Lien (including any
mortgage, stamp,           intangibles or other tax, title insurance or similar items or
the cost of the           Whitewash procedure) is excessive in relation to the benefit to
the Lenders of           the security afforded thereby or in real estate.  

87 

        SECTION
5.14.    The Scheme.  In the event that the  Acquisition
 Parties  proceed  with the Scheme in order to make the  Acquisition, they covenant and
agree with the Lenders as follows: 

        (a)       General.
Each of the Acquisition Parties shall:  

	 	        (i)                      comply
in all material respects with the Takeover Code (subject to any                applicable
waivers granted by the Panel on Takeovers and Mergers), the Financial
               Services and Markets Act 2000, the Companies Act, the 2006 Companies Act
and all                other applicable laws and regulations relevant in the context of
the Scheme and                all court orders relating to the Scheme;  

	 	        (ii)                      subject
to any relevant requirement of the Takeover Code, provide the
               Administrative Agent with (i) copies of the Acquisition Documents,
together with                evidence that the office copy of the appropriate court order
approving the                Scheme has been delivered to the registrar of companies for
registration, and                all other material documents, certificates, notices or
announcements received or                issued by it (or on its behalf) in relation to
the Scheme; and (ii) such                information regarding the progress of the Scheme
as it may reasonably request                and in any event regarding all material
matters likely to affect the interests                of the Lenders in respect of the
Scheme and upon request consult with the                Administrative Agent on all such
matters;  

	 	        (iii)                      subject
as required by law or any relevant regulatory requirement (including,
               without, limitation, any provisions of the Takeover Code) not issue any
press                release or make any statement which is reasonably likely to enter
the public                domain during the course of the Scheme which contains any
information not                already in the public domain concerning (i) the Credit
Documents or (ii) the                Administrative Agent or any Lender, without first
obtaining the prior approval                of the information or statement from the
Administrative Agent;  

	 	        (iv)                      ensure
that to the extent possible the Scheme Document is consistent in all
               material respects with the Press Release and, in particular, that
the                conditions and terms of the Scheme are as set out in the Press Release
(except                as required by the Panel on Takeovers and Mergers or the court
(provided that                the Borrower and its Subsidiaries shall not, nor shall they
request the Target                to, request the Panel on Takeovers and Mergers or
petition the court to so                require));  

88 

	 	        (v)                      issue
the Press Release or ensure that the Press Release is issued within five
               days of the date of this Agreement;  

	 	        (vi)                       promptly
give notice to the Administrative Agent of any circumstance or event
               which, if not waived, would entitle any Acquisition Party (with the
consent of                the Panel on Takeovers and Mergers, if needed) to lapse or
withdraw the Scheme;                and  

	 	        (vii)                      promptly
give notice to the Administrative Agent of the date of the lapse or
               withdrawal of the Scheme or the rejection of it or of the reduction of
capital                by the court.  

        (b)       Conduct
of the Scheme. Each of the Acquisition Parties shall ensure that                the
Scheme Document is posted within 28 days of the Announcement Date (or such
               longer period as is allowed by the Panel on Takeovers and Mergers), and
shall                not without the prior written consent of the Administrative Agent:  

	 	        (i)                      except
as required by the Panel on Takeovers and Mergers or the presiding court
               (provided that the Borrower and its Subsidiaries shall not, nor shall they
               request the Target to, request the Panel on Takeovers and Mergers or
petition                the court to so require), amend, vary, supplement or otherwise
modify (in each                case, in any way deemed material by the Administrative
Agent or the Required                Lenders in their sole discretion) any of the
conditions or terms of the Scheme                or the Implementation Agreement
following posting of the Scheme Document;  

	 	        (ii)                      except
as required by the Panel on Takeovers and Mergers or the presiding court
               (provided that the Borrower and its Subsidiaries shall not, nor shall they
               request the Target to, request the Panel on Takeovers and Mergers or
petition                the court to so require) (A) waive, withdraw or fail to invoke
(in whole or in                part) any condition to the Scheme or (B) determine or
declare or accept that any                such condition is satisfied where it is not
actually satisfied or (C) permit the                Scheme to become effective if any
condition thereof is not fulfilled;  

	 	        (iii)                      permit
any circumstances to arise whereby a mandatory offer is required to be
               made by an Acquisition Party by the terms of Rule 9 of the Code in respect
of                the Target Shares; or  

	 	        (iv)                      acquire
any Target Shares at a price above the Scheme price or do anything which
               might result in an increase of the Scheme price for the Target Shares to
which                the Scheme relates, as specified in the Press Release.  

        SECTION
5.15.    The Offer. Notwithstanding any other provision of
this Agreement or any other Credit Document to the contrary, the Borrower will not (and
will ensure that its Subsidiaries will not) proceed with a bid for the Target by way of
the Offer without the prior written consent of all of the Lenders. In the event that the
Borrower has received such prior written consent and the Acquisition Parties proceed with
the Offer in order to make the Acquisition (which has been consented to in writing by all
of the Lenders), they covenant and agree with the Lenders as follows:  

89 

        (a)       General.
Each of the Acquisition Parties shall:  

	 	        (i)                      comply
in all material respects with the Takeover Code (subject to any                applicable
waivers granted by the Panel on Takeovers and Mergers), the Financial
               Services and Markets Act 2000, the Companies Act, the 2006 Companies Act
and all                other applicable laws and regulations relevant in the context of
the Offer;  

	 	        (ii)                      enter
into a Receiving Agent Agreement in form acceptable to the Administrative
               Agent and, subject to any relevant requirement of the Takeover Code,
provide the                Administrative Agent with (A) copies of the Acquisition
Documents and all other                material documents, certificates, notices or
announcements received or issued by                it (or on its behalf) in relation to
the Offer; (B) at the time of giving any                Borrowing Request for a Term Loan
to be used to acquire any Target Shares a copy                of a certificate from the
Receiving Agent as to the levels of acceptances of the                Offer for cash
consideration and as to the amounts actually paid or due to be                paid to
shareholders who have accepted the Offer; and (C) such information
               regarding the progress of the Offer as it may reasonably request and in
any                event regarding all material matters likely to affect the interests of
the                Lenders in respect of the Offer (which shall include, without
limitation, any                market purchases of Target Shares made or agreed by or on
behalf of the                Acquisition Parties or persons acting in concert with them);  

	 	        (iii)                      subject
as required by law or by any relevant regulatory requirement (including,
               without limitation, any provision of the Takeover Code) not issue any
press                release or make any statement which is reasonably likely to enter
the public                domain during the course of the Offer which contains any
information not already                in the public domain concerning (i) the Credit
Documents or (ii) the                Administrative Agent or any Lender (and in either
case which is detrimental to                the Administrative Agent or any Lender),
without first obtaining the prior                approval of the information or statement
from the Administrative Agent;  

	 	        (iv)                      ensure
that to the extent possible the Offer Document (A) is consistent in all
               material respects with the Press Release and, in particular, that
the                terms and conditions of the Offer are as set out in the Press Release
(except as                required by the Panel on Takeovers and Mergers (provided that
the Borrower and                its Subsidiaries shall not, nor shall they request the
Target to, request the                Panel on Takeovers and Mergers or petition the
court to so require)), and (B) is                consistent with the provisions of
Section 5.15 (b) (iii) below;  

	 	        (v)                      issue
the Press Release or ensure that the Press Release is issued within five
               days of the date of this Agreement;  

	 	        (vi)                      promptly
notify the Administrative Agent of any circumstance or event which if                not
waived would entitle any Acquisition Party (with the consent of the Panel on
               Takeovers and Mergers, if needed) to lapse or withdraw the Offer; and  

	 	        (vii)                      promptly
give notice to the Administrative Agent of the date of the lapse or
               withdrawal of the Offer.  

90 

        (b)       Conduct
of the Offer. Each of the Acquisition Parties shall post the                Offer
Document within 28 days of the Announcement Date (or such longer period as
               is allowed by the Panel on Takeovers and Mergers), and shall not without
prior                written consent of the Administrative Agent:  

	 	        (i)                      except
as required by the Panel on Takeovers and Mergers, (provided that the
               Borrower and its Subsidiaries shall not, nor shall they request the Target
to,                request the Panel on Takeovers and Mergers or petition the court to so
require)                amend, vary, supplement or otherwise modify (in each case, in any
way deemed                material by the Administrative Agent or the Required Lenders in
their sole                discretion) any of the conditions or terms of the Offer
following posting of the                Offer Document or agree to an extension or
increase in the Offer;  

	 	        (ii)                      except
as required by the Panel on Takeovers and Mergers (provided that the
               Borrower and its Subsidiaries shall not, nor shall they request the Target
to,                request the Panel on Takeovers and Mergers or petition the court to so
require)                (A) waive, withdraw, or fail to invoke (in whole or in part) any
condition of                the Offer or (B) determine or declare or accept that any such
condition is                satisfied where it is not actually satisfied or (C) declare
the Offer                unconditional if any condition therein is not fulfilled;  

	 	        (iii)                      (without
prejudice to clause (b)(ii)) declare the Offer unconditional as to
               acceptances unless Newco has received acceptances from the holders of
Offer                Shares which, when aggregated with any Offer Shares purchased by or
on behalf of                the Acquisition Parties in the market after the Posting Date,
equal or exceed 90                percent (or such lesser percentage as the Lenders may
agree) of the Offer Shares                and, if the Administrative Agent and Lenders
have not agreed to a lower                percentage than 90 percent, is entitled to
invoke the compulsory purchase                provisions in Section 979 of the 2006
Companies Act in respect of the remaining                Offer Shares;  

	 	        (iv)                      permit
any circumstances to arise whereby a mandatory offer is required to be
               made by an Acquisition Party by the terms of Rule 9 of the Takeover Code
in                respect of the Target Shares; or  

	 	        (v)                      acquire
any Offer Shares at a price above the Offer price or do anything which
               might result in an increase of, the Offer price for the Target Shares to
which                the Offer relates, as specified in the Press Release.  

        (c)
       Action after the Unconditional Date. The
Acquisition Parties shall after                the Unconditional Date:  

	 	        (i)                      use
all reasonable endeavors (which shall not include making any purchases in
               the market at above the Offer price) to acquire all of the Target Shares
in                issue from time to time as soon as practicable either pursuant to or
otherwise                on the same terms as the Offer;  

	 	        (ii)                      as
soon as practicable and in any event within 10 Business Days of becoming
               entitled so to do, deliver or procure that the Receiving Agent delivers
the                appropriate notices under Section 979 of the 2006 Companies Act to
shareholders                in the Target who have not accepted the Offer and diligently
pursue its rights                to ensure that all of the Target Shares are acquired by
it; and  

91 

	 	        (iii)                      as
soon as practicable and in any event within 14 days after the Unconditional
               Date, procure that the articles of association of the Target are amended
to                provide that any further Target Shares issued will automatically
convert into a                cash amount equal to the number of shares multiplied by the
price payable in                respect of the Target Shares under the Acquisition
Documents.  

        SECTION
5.16.    Rate Hedging Obligations. Within ninety (90) days
after the Initial Borrowing Date, the Borrower will enter into Swap Agreements with one
or more financial institutions acceptable to the Administrative Agent in its reasonable
discretion, providing for a fixed rate of interest on a notional amount equal to at least
the Dollar Equivalent of an amount equal to 50% of the aggregate Indebtedness for money
borrowed of the Borrower and its Subsidiaries (excluding the Term X Loans, Indebtedness
of the Target set forth on Schedule 6.01 and any Indebtedness otherwise accruing interest
at a fixed rate) and having an average weighted maturity of at least three (3) years.  

        SECTION
5.17.    Rated Credit Facilities. The Borrower will use
commercially reasonable efforts to cause the credit facilities made available under the
Agreement to be continuously rated by S&P and Moody’s.  

        SECTION
5.18.    Pensions. The Borrower shall immediately notify the
Administrative Agent (a) upon having knowledge thereof of any investigation or proposed
investigation by the Pensions Regulator which may lead to the issue of a Financial
Support Direction or a Contribution Notice to any member of the Target Group and (b) if
it receives a Financial Support Direction or a Contribution Notice from the Pensions
Regulator.  

ARTICLE VI  

Negative Covenants 

        From
the date hereof until the Commitments have expired or terminated and the principal of and
interest on each Loan and all fees payable hereunder have been paid in full and all
Letters of Credit have expired or terminated and all LC Disbursements shall have been
reimbursed, the Borrower covenants and agrees with the Lenders that: 

        SECTION
6.01.    Indebtedness.  The Borrower  will not, and will not
permit any  Subsidiary  to,  create,  incur,  assume or permit to exist any Indebtedness,
except: 

        (a)                 Indebtedness
created under the Credit Documents and, only until such time as the           initial
extension of credit is made under this Agreement, Indebtedness created           under
the “Credit Documents” (as defined in the Existing Credit           Agreement);  

        (b)                 (i)
Indebtedness existing on the date hereof and set forth in Schedule 6.01 as
          reduced by any permanent repayments of principal thereof, and extensions,
          renewals and replacements of any such Indebtedness that do not increase the
          principal amount or facility amount, as applicable, outstanding at the time of
          any such extension, renewal or replacement); provided, however,
          that, as applicable, such Indebtedness shall be repaid in full as indicated on
          Schedule 6.01.  

92 

        (c)                 intercompany
Indebtedness among the Borrower and its Subsidiaries to the extent           permitted by
Sections 6.05(i) and (j) and Indebtedness of Foreign Credit           Parties in
respect of intercompany notes payable described in subsection (y) of           Section
6.04;  

        (d)                 Indebtedness
of the Borrower or any of its Subsidiaries under Swap Agreements           entered into
in the ordinary course of business with respect to other           Indebtedness permitted
under this Section 6.01, with respect to commodity           hedging arrangements or with
respect to currency hedging arrangements so long           as, in each case, the entering
into of such Swap Agreements are bona fide           hedging activities and are not for
speculative purposes;  

        (e)                 Indebtedness
of the Borrower and its Subsidiaries evidenced by Capital Lease           Obligations and
purchase money Indebtedness described in Section 6.02(j);  

        (f)                 Indebtedness
of a Subsidiary of the Borrower acquired pursuant to a Permitted           Acquisition
(or Indebtedness assumed at the time of a Permitted Acquisition of           an asset
securing such Indebtedness), provided that (i) such Indebtedness           was not
incurred in connection with, or in anticipation or contemplation of,           such
Permitted Acquisition, (ii) such Indebtedness does not constitute debt for
          borrowed money, it being understood and agreed that Capital Lease Obligations
          and purchase money Indebtedness shall not constitute debt for borrowed money
for           purposes of this clause (ii) and (iii) the aggregate principal amount of
all           Indebtedness permitted by this clause (f) to be outstanding at any time
shall           not exceed $50,000,000 minus the aggregate principal amount of
Indebtedness           outstanding under Section 6.01(s);  

        (g)                 Indebtedness
in respect of bid, payments, performance, advance payment or surety           bonds
entered into in the ordinary course of business and consistent with past
          practices;  

        (h)                 to
the extent that same constitutes Indebtedness, obligations in respect of
          earn-out arrangements permitted pursuant to a Permitted Acquisition;  

        (i)                 Indebtedness
of Foreign Subsidiaries of the Borrower under lines of credit to           any such
Foreign Subsidiary from Persons other than the Borrower or any of its
          Subsidiaries, the proceeds of which Indebtedness are used for such Foreign
          Subsidiary’s working capital and other general corporate purposes; provided that
the aggregate principal amount of all such Indebtedness           outstanding at any time
for all such Foreign Subsidiaries (excluding           Indebtedness set forth on Schedule
6.01 and refinancings thereof by the           applicable Subsidiary or another
Subsidiary in the same country so long as such           refinancings do not increase the
amount of the applicable Indebtedness nor           provide security not applicable to
such scheduled Indebtedness) shall not exceed           $50,000,000;  

        (j)                 Receivables
Indebtedness; provided that the Borrower shall at no time           permit the
aggregate outstanding amount of Receivables Indebtedness to exceed
          $200,000,000;  

93 

        (k)                 Indebtedness
arising from the honoring by a bank or other financial institution           of a check,
draft or similar instrument inadvertently (except in the case of           daylight
overdrafts) drawn against insufficient funds in the ordinary course of           business
so long as such Indebtedness is extinguished within four Business Days           of the
incurrence thereof;  

        (l)                 Indebtedness
of the Borrower or any of its Subsidiaries which may be deemed to           exist in
connection with agreements providing for indemnification, purchase           price
adjustments and similar obligations in connection with the acquisition or
          disposition of assets permitted by this Agreement so long as any such
          obligations are those of the Person making the respective acquisition or sale,
          and are not guaranteed by any other Person (other than the Borrower or a
          Subsidiary to the extent permitted by Section 6.01(n));  

        (m)                 unsecured
guarantees by the Borrower and its Subsidiaries in respect of Customer
          Financing;  

        (n)                 Indebtedness
consisting of guarantees (w) by the Domestic Credit Parties of each           other’s
Indebtedness and lease and other contractual obligations permitted           under this
Agreement, (x) by the Foreign Credit Parties of each other’s and           each
Domestic Credit Party’s Indebtedness and lease and other contractual
          obligations permitted under this Agreement, (y) by External Subsidiaries of
each           other’s and each Credit Party’s Indebtedness and lease and other
          contractual obligations permitted under this Agreement or (z) by any Credit
          Party of any Indebtedness and lease and other contractual obligations permitted
          under this Agreement of any External Subsidiary (or by any Domestic Credit
Party           of any Indebtedness and lease and other contractual obligations permitted
under           this Agreement of any Foreign Credit Party) so long as the amount of such
          Guarantee under this clause (z), when aggregated with (1) the aggregate
          outstanding principal amount of Intercompany Loans which are restricted in
          amount by the proviso to Section 6.05(i) and (2) the aggregate amount of
          contributions, capitalizations and debt forgiveness which are restricted in
          amount by the proviso to Section 6.05(j) and which have theretofore been made
          and not repaid do not at any time exceed the Dollar Equivalent of $80,000,000;  

        (o)                 Indebtedness
of a Chinese finance Subsidiary, provided that the aggregate           principal
amount of such Indebtedness outstanding at any time does not exceed           the Dollar
Equivalent of $35,000,000;  

        (p)                 additional
unsecured Indebtedness incurred by the Borrower and the Subsidiary           Guarantors
(other than Indebtedness of the type described in Section           6.01(n)(z)); provided that
(i) no Default exists at the time of its           incurrence or would result therefrom,
(ii) both before and after giving effect           to the incurrence of such Indebtedness
the Consolidated Senior Leverage Ratio is           less than 3.50 to 1.00 and (iii) such
Indebtedness shall have a Weighted Average           Life to Maturity which is at least
six months after the latest scheduled Loan           maturity date under this Agreement
and shall be on terms no less favorable to           the Lenders than the terms of the
Senior Note Documents; provided, however, that Indebtedness may be incurred
pursuant to this clause (p)           only if at the time of its incurrence both the Term
X Loan and Term Y Loan have           been paid in full;  

94 

        (q)                 so
long as no Default then exists or would result therefrom, additional           unsecured
Indebtedness incurred by the Borrower for the purpose of (i)           refinancing any
portion of the Obligations or (ii) refinancing other senior           Indebtedness provided,
however, that such refinancing Indebtedness           pursuant to this clause (ii)
has a Weighted Average Life to Maturity at the time           such refinancing
Indebtedness is incurred which is not less than the remaining           Weighted Average
Life to Maturity of the Indebtedness being refinanced, is in a           principal amount
not in excess of the principal amount of Indebtedness being           refinanced and is
on terms not materially more onerous to the Borrower than the           terms of the
Indebtedness being refinanced; provided, however,           that
Indebtedness may be incurred pursuant to this clause (s)(ii) only if at the
          time of its incurrence both the Term X Loan and Term Y Loan have been paid in
          full;  

        (r)                 Indebtedness
incurred in consummating the Funding Transactions; and  

        (s)                 Indebtedness
of the Target or its Subsidiaries incurred prior to the Initial           Borrowing Date
(excluding Target Debt) in an aggregate principal amount which,           when aggregated
with the aggregate principal amount of Indebtedness incurred           pursuant to
Section 6.01(f), does not exceed $50,000,000.  

        SECTION
6.02.    Liens. From and after the Initial Borrowing Date, the
Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume
or suffer to exist any Lien upon or with respect to any property or assets of the
Borrower or any of its Subsidiaries, whether now owned or hereafter acquired, or sell any
property or assets subject to an understanding or agreement, contingent or otherwise, to
repurchase such property or assets (including sales of accounts receivable with recourse
to the Borrower or any of its Subsidiaries), or assign any right to receive income or
authorize the filing of any financing statement under the UCC or any other similar notice
of Lien under any similar recording or notice statute; provided that the
provisions of this Section 6.02 shall not prevent the creation, incurrence, assumption or
existence of the following (Liens described below are herein referred to as “Permitted
Liens”):  

        (a)                 inchoate
Liens for taxes, assessments or governmental charges or levies not yet           due or
Liens for taxes, assessments or governmental charges or levies being           contested
in good faith and by appropriate proceedings for which adequate           reserves have
been established in accordance with generally accepted accounting           principles;  

        (b)                 Liens
in respect of property or assets of the Borrower or any of its           Subsidiaries
imposed by law, which were incurred in the ordinary course of           business and do
not secure Indebtedness for borrowed money, such as           carriers’, warehousemen’s,
materialmen’s and mechanics’          liens and other similar Liens arising in
the ordinary course of business, and           (x) which do not in the aggregate
materially detract from the value of the           Borrower’s or such Subsidiary’s
property or assets or materially           impair the use thereof in the operation of the
business of the Borrower or such           Subsidiary or (y) which are being
contested in good faith by appropriate           proceedings for which adequate reserves
have been established in accordance with           generally accepted accounting
principles and which proceedings have the effect           of preventing the forfeiture
or sale of the property or assets subject to any           such Lien;  

        (c)                 Liens
(other than Liens imposed under ERISA) (i) incurred in the ordinary course           of
business in connection with workers compensation claims, unemployment           insurance
and social security benefits and (ii) Liens securing the performance           of bids,
tenders, leases and contracts in the ordinary course of business and           statutory
obligations, surety bonds, performance bonds and other obligations of           a like
nature (other than appeal bonds) incurred in the ordinary course of           business;  

95 

        (d)                 easements,
rights-of-way, restrictions, encroachments, municipal and zoning           ordinances and
other similar charges or encumbrances, and minor title           deficiencies, in each
case not securing Indebtedness and not materially           interfering with the conduct
of the business of the Borrower or any of its           Subsidiaries;  

        (e)                 Liens
arising out of the existence of judgments or awards in respect of which           the
Borrower or any of its Subsidiaries shall in good faith be prosecuting an
          appeal or proceedings for review and in respect of which there shall have been
          secured a subsisting stay of execution pending such appeal or proceedings; provided that
the aggregate amount of all cash (including, for this           purpose, the amount of
all letters of credit) and the fair market value of all           other property pledged
or deposited to obtain a subsisting stay of execution           pending such appeal does
not exceed $10,000,000 at any time outstanding;  

        provided
that Liens described in clauses (a) through (e) of this Section 6.02 shall not include
Liens securing Indebtedness; 

        (f)                 Liens
in existence on the Effective Date which are listed, and the property           subject
thereto described, in Schedule 6.02, plus renewals, replacements and           extensions
of such Liens to the extent set forth in Schedule 6.02; provided that (i) such
Liens secure no more than the aggregate principal           amount of Indebtedness, if
any, secured by such Liens on the date hereof and           (ii) such Liens do not
encumber any additional assets or properties of the           Borrower or any of its
Subsidiaries other than those encumbered on the date           hereof;  

        (g)                 Liens
created pursuant to the Security Documents and, only until the Initial
          Borrowing Date, Liens securing the “Security Documents” (as defined
in           the Existing Credit Agreement);  

        (h)                 licenses,
sublicenses, leases or subleases granted to other Persons not           materially
interfering with the conduct of the business of the Borrower or any           of its
Subsidiaries;  

        (i)                 Liens
on assets of the Borrower or any of its Subsidiaries subject to Capital           Lease
Obligations to the extent such Capital Lease Obligations are permitted by
          Section 6.01(e); provided that (i) such Liens only serve to secure the
          payment of Indebtedness arising under such Capital Lease Obligation and (ii)
the           Lien encumbering the asset giving rise to the Capital Lease Obligation does
not           encumber any other asset of the Borrower or any Subsidiary of the Borrower
          (other than proceeds of the asset giving rise to such Capital Lease
Obligation);  

        (j)                 Liens
on fixed or capital assets acquired after the Effective Date and used in           the
ordinary course of business of the Borrower or any of its Subsidiaries and
          created at the time of the acquisition thereof by the Borrower or such
          Subsidiary or within 90 days thereafter to secure Indebtedness incurred to pay
          all or a portion of the purchase price thereof or extensions, renewals or
          replacements of any of the foregoing for the same or a lesser amount; provided that
(i) the Indebtedness secured by such Liens is permitted by           Section 6.01(e) and
(ii) in all events, any Lien encumbering the equipment or           machinery so acquired
does not encumber any other asset of the Borrower or such           Subsidiary (other
than proceeds of such equipment or machinery);  

96 

        (k)                 Liens
arising from precautionary UCC financing statement filings regarding           operating
leases entered into in the ordinary course of business;  

        (l)                 statutory
and common law landlords’ liens under leases to which the           Borrower or any
of its Subsidiaries is a party;  

        (m)                 Liens
on property or assets acquired pursuant to a Permitted Acquisition, or on
          property or assets of a Subsidiary of the Borrower in existence at the time
such           Subsidiary is acquired pursuant to a Permitted Acquisition; provided that
          (i) any Indebtedness that is secured by such Liens is permitted to exist under
          Section 6.01(f), (ii) such Liens are not created in connection with, or in
          contemplation or anticipation of, such Permitted Acquisition and do not attach
          to any other asset of the Borrower or any of its Subsidiaries and (iii) such
          Liens secure no more than the aggregate principal amount of the Indebtedness,
if           any, secured by such Liens on the date of the Permitted Acquisition;  

        (n)                 Liens
on assets of Foreign Subsidiaries that are not Credit Parties and that           secure
Indebtedness permitted to be incurred by such Foreign Subsidiaries           pursuant to
Section 6.01;  

        (o)                 Liens
in favor of customs or revenue authorities arising as a matter of law to           secure
payment of customs duties in connection with the importation of goods;  

        (p)                 Liens
granted by Subsidiaries of the Borrower that are not Credit Parties in           favor of
the Borrower or any Subsidiary Guarantor;  

        (q)                 Liens
upon assets of an SPC granted in connection with a Permitted           Securitization
(including customary backup Liens granted by the transferor in           accounts
receivable and related rights transferred to an SPC);  

        (r)                 customary
Liens in favor of banking institutions encumbering deposits (including           the
right of set-off) held by such banking institutions incurred in the ordinary
          course of business;  

        (s)                 rights
of customers (or institutions providing financing to such customers) with
          respect to inventory which arise from deposits and progress payments made in
the           ordinary course of business;  

        (t)                 Liens
arising out of the rights of buyers of accounts under Factoring Agreements           in
the ordinary course of business;  

        (u)                 Liens
created by the transfer of title to work in progress to customers in           return for
progress payments;  

        (v)                 Liens
arising out of the escrowing of (or making similar arrangements with           respect
to) Loan proceeds to be used for the sole purpose of making payments           pursuant
to the Scheme or of assuring repayment of Indebtedness arising under           the Note
Purchase and Guaranty Agreement dated as of September 6, 2007 referred           to on
Schedule 6.01, in any case on terms reasonably satisfactory to the
          Administrative Agent; and  

97 

        (w)                 other
Liens incidental to the conduct of the business of the Borrower or any of           its
Subsidiaries that do not encumber any Collateral (other than on a junior and
          subordinated basis) and do not secure outstanding obligations in the aggregate
          in excess of $25,000,000 at any time outstanding for all such Liens.  

        SECTION
6.03.    Merger, Purchase or Sale of Assets, Change in Business.
(a) The Borrower will not, and will not permit any of its Subsidiaries to, wind up,
liquidate or dissolve its affairs or enter into any transaction of merger or
consolidation, or convey, sell, lease or otherwise dispose of all or any part of its
property or assets (whether now owned or hereafter acquired), or enter into any
sale-leaseback transactions, or purchase or otherwise acquire (in one or a series of
related transactions) any part of the property or assets (other than purchases or other
acquisitions of inventory, materials and equipment in the ordinary course of business) of
any Person (or agree to do any of the foregoing at any future time), except that:  

	 	        (i)                      capital
expenditures by the Borrower or any of its Subsidiaries shall be
               permitted;  

	 	        (ii)                      each
of the Borrower and its Subsidiaries may make sales and/or rentals of
               inventory in the ordinary course of business;  

	 	        (iii)                      each
of the Borrower and its Subsidiaries may sell or otherwise transfer
               obsolete, uneconomic or worn-out equipment, materials or other assets in
the                ordinary course of business;  

	 	        (iv)                      Investments
may be made to the extent permitted by Section 6.05;  

	 	        (v)                      the
Borrower and its Subsidiaries may sell assets (other than the capital stock
               or other equity interests of any Wholly-Owned Subsidiary unless all of the
               capital stock or other equity interests are sold in accordance with this
clause                (v)) so long as (A) no Default or Event of Default then exists or
would result                therefrom, (B) each such sale is in an arm’s-length
transaction and                the Borrower or the respective Subsidiary receives at
least fair market value                (as determined in good faith by the Borrower or
such Subsidiary, as the case may                be), (C) the total consideration received
by the Borrower or such Subsidiary is                at least 80% cash and is paid at the
time of the closing of such sale and (D)                the aggregate amount of the
proceeds received from all assets sold pursuant to                this clause (v) shall
not exceed $150,000,000 (or such greater amount as                may be required to
permit the Borrower to repay the Term X Loan) in any fiscal                year of the
Borrower;  

	 	        (vi)                      each
of the Borrower and its Subsidiaries may lease (as lessee) or license (as
               licensee) real or personal property (so long as any such lease or license
does                not create a Capital Lease Obligation except to the extent permitted
by                Section 6.01(e));  

	 	        (vii)                      each
of the Borrowers and its Subsidiaries may sell or discount accounts
               receivable arising in the ordinary course of business in Specified
Transactions                so long as (A) such sales or discounts occur only in
connection with the                collection of such accounts receivable and (B) after
giving effect to any such                sale or discount, the aggregate recourse
exposure of the Borrower and its                Subsidiaries with respect to all
Specified Transactions does not exceed                $50,000,000;  

98 

	 	        (viii)                      each
of the Borrower and its Subsidiaries may grant licenses, sublicenses,
               leases or subleases to other Persons not materially interfering with the
conduct                of the business of the Borrower or any of its Subsidiaries, in
each case so long                as no such grant otherwise affects the Collateral Agent’s
security interest                in the asset or property subject thereto;  

	 	        (ix)                      the
Borrower may transfer assets to any Wholly-Owned Domestic Subsidiary of the
               Borrower which is a Subsidiary Guarantor (or which substantially
               contemporaneously with such transfer becomes a Subsidiary Guarantor) and
any                Subsidiary of the Borrower may transfer assets to the Borrower or to
any                Wholly-Owned Domestic Subsidiary of the Borrower which is a Subsidiary
Guarantor                (or which substantially contemporaneously with such transfer
becomes a                Subsidiary Guarantor), in each case so long as the security
interests granted to                the Collateral Agent for the benefit of the Secured
Creditors pursuant to the                Security Documents in the assets so transferred
shall remain in full force and                effect and perfected (to at least the same
extent as in effect immediately prior                to such transfer);  

	 	        (x)                      any
Subsidiary of the Borrower may merge with and into, or be dissolved or
               liquidated into, the Borrower or any Wholly-Owned Domestic Subsidiary of
the                Borrower so long as (I) in the case of any such merger, dissolution or
               liquidation involving the Borrower, the Borrower is the surviving
corporation of                any such merger, dissolution or liquidation, (II) in all
other cases, a                Wholly-Owned Domestic Subsidiary is the surviving
corporation of any such                merger, dissolution or liquidation, (III) in all
cases, the security interests                granted to the Collateral Agent for the
benefit of the Secured Creditors                pursuant to the Security Documents in the
assets of such Subsidiary shall remain                in full force and effect and
perfected (to at least the same extent as in effect                immediately prior to
such merger, dissolution or liquidation) and (IV) the                Borrower has
complied with Section 5.13, if applicable;  

	 	        (xi)                      any
Foreign Subsidiary of the Borrower may merge with and into, or be dissolved
               or liquidated into, or transfer any of its assets to, any Wholly-Owned
               Subsidiary of the Borrower so long as (I) the Wholly-Owned Subsidiary of
the                Borrower is the survivor of such merger, dissolution or liquidation
and, if                either party is a Subsidiary Borrower, a Subsidiary Borrower is
the survivor of                such merger dissolution or liquidation, (II) any security
interests granted to                the Collateral Agent for the benefit of the Secured
Creditors pursuant to the                Security Documents in the equity interests of
such Foreign Subsidiary or                Wholly-Owned Subsidiary shall remain in full
force and effect and perfected (to                at least the same extent as in effect
immediately prior to such merger,                dissolution or liquidation) and (III)
any guaranty made in favor of the                Administrative Agent for the benefit of
the Secured Creditors by such Foreign                Subsidiary or Wholly-Owned
Subsidiary shall remain in full force and effect;  

99 

	 	        (xii)                      Permitted
Acquisitions may be made to the extent permitted by Section 6.05(m);  

	 	        (xiii)                      subject
to Section 6.16, Subsidiaries of the Borrower may repurchase equipment                as
may be required in accordance with the terms of the Buy-Back Arrangements
               relating to such equipment;  

	 	        (xiv)                      subject
to Section 6.01(j) and so long as no Default or Event of Default then
               exists or would result therefrom, each of the Borrower and its
Subsidiaries may                from time to time (I) sell accounts receivable (and
rights ancillary thereto)                pursuant to, and in accordance with the terms
of, a Permitted Securitization or                Factoring Agreement and (II) repurchase
accounts receivable theretofore sold                pursuant to a Permitted
Securitization or Factoring Agreement in the ordinary                course of business;  

	 	        (xv)                      the
Borrower may enter into one or more Sale-Leaseback Transactions;  

	 	        (xvi)                      Restricted
Payments may be made as, and to the extent, permitted by Section                6.04;  

	 	        (xvii)                      the
Borrower and Newco may consummate the Acquisition;  

	 	        (xviii)                      subject
to compliance with the conditions set forth in Section                6.03(a)(v)((A)–(C)),
the Borrower and its Subsidiaries may consummate                Divestiture Transactions;
and  

	 	        (xix)                      prior
to December 31, 2008, the Borrower or its Subsidiaries may consummate the
               Sale Transaction on terms acceptable to the Administrative Agent.  

        (b)                      The
Borrower will not, and will not permit any of its Subsidiaries to, engage to
               any material extent in any business other than businesses of the type
conducted                by the Borrower, the Target and their Subsidiaries on the date
of execution of                this Agreement and businesses reasonably related thereto.  

        SECTION
6.04.    Restricted Payments. The Borrower will not, and (on
or after the Initial Borrowing Date) will not permit any of its Subsidiaries to, declare
or make, or agree to pay or make, directly or indirectly, any Restricted Payment, except
(a) the Borrower may declare and pay dividends with respect to its Equity Interests
payable solely in additional shares of its common stock, (b) Subsidiaries may declare and
pay dividends ratably with respect to their Equity Interests, (c) the Borrower may make
Restricted Payments pursuant to and in accordance with stock option plans or other
benefit plans for directors, management or employees of the Borrower and its Subsidiaries
and (d) so long as no Default has occurred and is continuing or would result therefrom,
then (i) at any time when the Consolidated Total Leverage Ratio is less than 2.00 to 1.00
(both immediately before and immediately after the making of such Restricted Payment) the
Borrower may make Restricted Payments which, when aggregated with all other Restricted
Payments made pursuant to this Section 6.04(d) during the then current calendar year do
not exceed $75,000,000 and (ii) at any time when the Consolidated Total Leverage Ratio is
greater than or equal to 2.00 to 1.00 (both immediately before and immediately after the
making of such Restricted Payment) the Borrower may make Restricted Payments which, when
aggregated with all other Restricted Payments made pursuant to this Section 6.04(d)
during the then current calendar year do not exceed $35,000,000; provided that in
the case of either Section (d)(i) or (d)(ii), the Borrower shall have delivered to the
Administrative Agent and each Lender a certificate satisfactory in form and substance to
the Administrative Agent and executed by its chief financial officer or treasurer
evidencing compliance with the requirements of such Section and in no event shall the
Borrower make a Restricted Payment in violation of the terms of any Material Indebtedness
and further provided that unless and until the Term Y Loan shall have been
paid in full, Restricted Payments pursuant to this clause (d) shall not exceed
$20,000,000 in any calendar year. Notwithstanding clause (b) of this Section 6.04, a
Foreign Credit Party may not pay any dividend to an External Subsidiary unless (x) such
dividend is substantially contemporaneously therewith directly or indirectly remitted as
a dividend or distribution to a Domestic Credit Party, (y) such dividend is in the form
of an intercompany note payable of such Foreign Credit Party which is subordinated on
terms satisfactory to the Administrative Agent to the obligations of such Foreign Credit
Party under the Credit Documents (a “Dividend Note”) or (z) at the time
such dividend is paid no Default has occurred and is continuing and, after giving effect
to such dividend, the “Outflow Amount” (as defined below) does not exceed €30,000,000.
For purposes hereof, “Outflow Amount”means an amount equal to (1) the
aggregate amount of (A) all dividends paid by Foreign Credit Parties to External
Subsidiaries after May 1, 2007 other than as permitted by subsection (x) or (y) of the
preceding sentence plus (B) all amounts (including principal, interest and other amounts)
paid by Foreign Credit Parties to non-Credit Parties after May 1, 2007 in respect of
Dividend Notes (other than such amounts substantially contemporaneously therewith
directly or indirectly remitted as a dividend or distribution to a Domestic Credit Party)
minus (2) the amount of all cash capital contributions received by such paying Foreign
Credit Parties from External Subsidiaries after May 1, 2007. Payments (including
principal, interest and other amounts) on account of Dividend Notes shall only be made if
a dividend in the amount of such payment could then be made pursuant to subsection (z) of
the second sentence of this Section 6.04; provided that the foregoing restriction
shall not apply to such payments to the extent they are either made to a Credit Party or
are substantially contemporaneously therewith directly or indirectly remitted as a
dividend or a distribution to a Domestic Credit Party.  

100 

        SECTION
6.05.    Advances, Investments and Loans. The Borrower will
not, and will not permit any of its Subsidiaries to, directly or indirectly, purchase or
acquire (including pursuant to any merger with any Person not a Wholly-Owned Subsidiary
prior to such merger) any stock, obligations or securities (including any option, warrant
or other right to acquire any of the foregoing) of, or any other interest in, or make any
capital contribution to, any Person, or lend money or make advances to any Person, or
purchase or own a futures contract or otherwise become liable for the purchase or sale of
currency or other commodities at a future date in the nature of a futures contract, or
hold any cash or Cash Equivalents (each of the foregoing an “Investment” and,
collectively, “Investments”), except that the following shall be
permitted:  

        (a)                 the
Borrower and its Domestic Subsidiaries may acquire and hold cash and Cash
          Equivalents and Foreign Subsidiaries of the Borrower may acquire and hold cash,
          Cash Equivalents and Foreign Cash Equivalents;  

101 

        (b)                 the
Borrower and its Subsidiaries may hold the Investments held by them on the
          Effective Date and described on Schedule 6.05, provided that any
          additional Investments made with respect thereto shall be permitted only if
          independently permitted under the other provisions of this Section 6.05;  

        (c)                 the
Borrower and its Subsidiaries may acquire and own investments (including           debt
obligations) received in connection with the bankruptcy or reorganization           of
suppliers and customers and in good faith settlement of delinquent           obligations
of, and other disputes with, customers and suppliers arising in the           ordinary
course of business;  

        (d)                 the
Borrower and its Subsidiaries may make loans and advances to their officers           and
employees for moving, relocation and travel expenses and other similar
          expenditures, in each case in the ordinary course of business in an aggregate
          amount not to exceed $5,000,000 at any time outstanding (determined without
          regard to any write-downs or write-offs of such loans and advances);  

        (e)                 the
Borrower may acquire and hold obligations of one or more officers, directors           or
other employees of the Borrower or any of its Subsidiaries in connection with
          such officers’, directors’ or employees’ acquisition of shares
of           capital stock of the Borrower so long as no cash is paid by the Borrower or
any           of its Subsidiaries to such officers, directors or employees in connection
with           the acquisition of any such obligations;  

        (f)                 the
Borrower and its Subsidiaries may enter into Swap Agreements to the extent
          permitted by Section 6.01(d);  

        (g)                 the
Borrower and its Subsidiaries may acquire and hold promissory notes and           other
non-cash consideration issued by the purchaser of assets in connection           with a
sale of such assets to the extent permitted by Sections 6.03(a)(iii) and           (v);  

        (h)                 the
Borrower and its Subsidiaries may acquire and hold accounts receivables           owing
to any of them (i) if created or acquired in the ordinary course of           business of
the Borrower or such Subsidiary or (ii) as contemplated by Section
          6.03(a)(xiv)(II);  

        (i)                 the
Borrower and its Wholly-Owned Subsidiaries may make intercompany loans and
          advances between and among one another (collectively, “Intercompany
          Loans”); provided that (I) at no time shall the sum of (A) the
          aggregate outstanding principal amount of all Intercompany Loans (excluding
          Intercompany Loans outstanding on the Effective Date and set forth on Schedule
          1.02) made pursuant to this clause (i) by Credit Parties to External
          Subsidiaries or by Domestic Credit Parties to Foreign Credit Parties, plus (B)
          the aggregate amount of contributions, capitalizations and forgiveness
          theretofore made by Credit Parties to (or in respect of) External Subsidiaries
          and by Domestic Credit Parties to (or in respect of) Foreign Credit Parties, in
          each case pursuant to Section 6.05(j) (net of cash equity returns), plus (C)
the           outstanding amount of Guarantees issued pursuant to Section 6.01(n)(z)
exceed           the Dollar Equivalent of $80,000,000 (determined without regard to any
          write-downs or write-offs of such Intercompany Loans), (II) no Intercompany
          Loans may be made by a Credit Party to an External Subsidiary or by a Domestic
          Credit Party to a Foreign Credit Party at a time that an Event of Default
exists           and is continuing, (III) any such Intercompany Loan made by a Credit
Party shall           be evidenced by an Intercompany Note which shall be pledged to the
Collateral           Agent to the extent required pursuant to the US Pledge Agreement,
and (IV) each           Intercompany Loan made to any Credit Party by an External
Subsidiary shall           include (or, if not evidenced by an Intercompany Note, the
books and records of           the respective parties shall note that such Intercompany
Loan shall be subject           to) the subordination provisions attached as Annex A to
the form of Intercompany           Note;  

102 

        (j)                 the
Borrower and its Wholly-Owned Subsidiaries may make cash capital           contributions
to their respective Wholly-Owned Subsidiaries, and may capitalize           or forgive
any Indebtedness owed to them by a Wholly-Owned Foreign Subsidiary           and
outstanding under clause (i) of this Section 6.05; provided that at           no
time shall (I) the sum of (A) the aggregate amount of such contributions,
          capitalizations and forgiveness made by Credit Parties to External Subsidiaries
          or by Domestic Credit Parties to Foreign Credit Parties (net of cash equity
          returns), plus (B) the aggregate outstanding principal amount of Intercompany
          Loans (excluding Intercompany Loans outstanding on the Effective Date and set
          forth on Schedule 1.02) made by Credit Parties to External Subsidiaries and by
          Domestic Credit Parties to Foreign Credit Parties, in each case pursuant to
          Section 6.05(i) (determined without regard to any write-downs or write-offs
          thereof), plus (C) the outstanding amount of Guarantees issued pursuant to
          Section 6.01(n)(z), exceed the Dollar Equivalent of $80,000,000, (II) Credit
          Parties may only make capital contributions to, and capitalize or forgive any
          Indebtedness owed to them by, a Wholly-Owned Foreign Subsidiary pursuant to
this           clause (j) to the extent (A) required to comply with any thin
capitalization           rules applicable to such Wholly-Owned Foreign Subsidiary or (B)
that the making           of Intercompany Loans to such Wholly-Owned Foreign Subsidiary
would have adverse           tax consequences to the Credit Party making the same, and
(III) no such           contributions, capitalizations or forgivenesses may be made by a
Credit Party to           a External Subsidiary or by a Domestic Credit Party to a
Foreign Credit Party at           any time that an Event of Default exists and is
continuing;  

        (k)                 the
Borrower and its Subsidiaries may make transfers of assets to their           respective
Subsidiaries as permitted by Sections 6.03(a)(ix), (x) and (xi);  

        (l)                 so
long as no Default or Event of Default then exists or would result therefrom,
          the Borrower and its Subsidiaries may make Investments not otherwise permitted
          by clauses (a) through (k) above or clause (m) below of this Section 6.05 in an
          aggregate amount not to exceed $75,000,000 (taking the fair market value (as
          determined in good faith by the Borrower) of property other than cash) at any
          time outstanding (determined without regard to any write-downs or write-offs
          thereof);  

        (m)                 subject
to the provisions of this Section 6.05(m) and the requirements contained           in the
definition of Permitted Acquisition, the Borrower and its Wholly-Owned
          Subsidiaries may from time to time effect Permitted Acquisitions, so long as:
          (i) no Default or Event of Default shall have occurred and be continuing at the
          time of the consummation of the proposed Permitted Acquisition or immediately
          after giving effect thereto; (ii) if the proposed Permitted Acquisition is for
          aggregate consideration of $75,000,000 or more, the Borrower shall have given
to           the Administrative Agent at least 10 Business Days’ prior written
notice of           such proposed Permitted Acquisition (or such shorter period of time
as may be           reasonably acceptable to the Administrative Agent), which notice
shall be           executed by its chief financial officer or treasurer and shall
describe in           reasonable detail the principal terms and conditions of such
Permitted           Acquisition; (iii) both before and after giving effect to the
Permitted           Acquisition, the Borrower is in compliance with Section 6.01(p); (iv)
at the           time of any such Permitted Acquisition involving the creation or
acquisition of           a Subsidiary, or the acquisition of capital stock or other
equity interest of           any Person, the capital stock or other equity interests
thereof created or           acquired in connection with such Permitted Acquisition shall
have been pledged           for the benefit of the Secured Creditors pursuant to (and to
the extent required           by) the US Pledge Agreement and such Person, if a Domestic
Subsidiary which is a           Material Subsidiary, shall have executed and delivered to
the Administrative           Agent a joinder to the Subsidiary Guaranty; and (v) giving
effect to such           Permitted Acquisition, the Borrower is in compliance with
Section 6.07 and 6.08           on a Pro Forma Basis;  

103 

        (n)                 the
Borrower and Newco may consummate the Acquisition; and  

        (o)                 the
Borrower and its Subsidiaries may consummate the Funding Transactions.  

        SECTION
6.06.    Transactions with Affiliates. The Borrower will not,
and will not permit any of its Subsidiaries to, enter into any transaction or series of
related transactions with any Affiliate of the Borrower or any of its Subsidiaries, other
than in the ordinary course of business and on terms and conditions substantially as
favorable to the Borrower or such Subsidiary as would reasonably be obtained by the
Borrower or such Subsidiary at that time in a comparable arm’s-length transaction
with a Person other than an Affiliate, except that the following in any event shall be
permitted:  

        (a)                 Restricted
Payments may be made to the extent permitted by Section 6.04;  

        (b)                 loans
may be made and other transactions may be entered into by the Borrower and           its
Subsidiaries to the extent permitted by Sections 6.01, 6.03 and 6.05;  

        (c)                 customary
fees may be paid to non-officer directors of the Borrower and its           Subsidiaries;  

        (d)                 the
Borrower and its Subsidiaries may enter into, and may make payments under,
          employment agreements, employee benefits plans, stock option plans,
          indemnification provisions, severance arrangements, and other similar
          compensatory arrangements with officers, employees and directors of the
Borrower           and its Subsidiaries in the ordinary course of business;  

        (e)                 Subsidiaries
of the Borrower may pay management fees, licensing fees and similar           fees to (i)
the Borrower or any Subsidiary Guarantor or (ii) any other           Subsidiary so long
as such fees are no greater than would result from an           arm’s-length
transaction; and  

        (f)                 the
Borrower and its Wholly-Owned Subsidiaries may otherwise engage in           transactions
exclusively between or among themselves so long as such           transactions are
otherwise permitted under this Agreement.  

        SECTION
6.07.    Minimum Consolidated Interest Coverage Ratio. The
Borrower will not permit the Consolidated Interest Coverage Ratio for any fiscal quarter
of the Borrower set forth below to be less than or equal to the ratio set forth opposite
such fiscal quarter below:  

104 

	 Fiscal Quarter Ending	 Ratio
	
June 30, 2008	2.50:1.00
	
September 30, 2008	2.50:1.00
	December 31, 2008	2.50:1.00
	March 31, 2009	2.50:1.00
	
June 30, 2009	2.75:1.00
	September 30, 2009	2.75:1.00
	December 31, 2009	2.75:1.00
	March 31, 2010	2.75:1.00
	
Thereafter	3.00:1.00

        SECTION
6.08.    Maximum Consolidated Total Leverage Ratio. The
Borrower will cause the Consolidated Total Leverage Ratio to be less than (a) 4.00 to
1.00 at all times during the period from the Effective Date to and including December 30,
2009, (b) 3.75 to 1.00 at all times during the period from December 31, 2009 to and
including December 30, 2010 and (c) less than 3.50 to 1.00 at all times thereafter.  

        SECTION
6.09.    Limitations on Prepayments of Certain Indebtedness;
Modifications of Certain Indebtedness; Modifications of Certificate of Incorporation,
By-Laws and Certain Other Agreements, etc. The Borrower will not, and will not permit
any of its Subsidiaries to:  

        (a)                 make
(or give any notice in respect of) any voluntary or optional payment or
          prepayment on or redemption or acquisition for value of, or any prepayment or
          redemption as a result of any asset sale, change of control or similar event of
          (including in each case, without limitation, by way of depositing with the
          trustee with respect thereto or any other Person money or securities before due
          for the purpose of paying when due), (i) any Indebtedness (other than the
          Obligations) unless no Default has occurred and is continuing, (ii) any
          Indebtedness which is subordinated to any of the Obligations or (iii) any
Senior           Notes unless the Consolidated Total Leverage Ratio immediately prior to
and           after giving effect to making such payment is less than 2.00 to 1.00;  

        (b)                 amend
or modify, or permit the amendment or modification of, (i) any provision           of any
Senior Note Document, (ii) any documents pursuant to which Indebtedness
          subordinated to any of the Obligations was incurred or by which it is governed
          or (iii) any of the Acquisition Documents; or  

105 

        (c)                 amend,
modify or change any Factoring Agreement, any Permitted Securitization
          documentation, any Tax Sharing Agreement or its certificate or articles of
          incorporation, certificate of formation, limited liability company agreement or
          by-laws (or the equivalent organizational documents), as applicable, or any
          agreement entered into by it with respect to its capital stock or other equity
          interests (including any shareholders’ agreement), or enter into any new
          Factoring Agreement, Permitted Securitization documentation, Tax Sharing
          Agreement or agreement with respect to its capital stock or other equity
          interests, unless such new agreement or amendment, modification, change or
other           action contemplated by this clause (c) could not reasonably be
expected to           be adverse to the interests of the Lenders in any material respect.  

        SECTION
6.10.    Restrictive Agreements. The Borrower will not, and
will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or
permit to exist any agreement or other arrangement that prohibits, restricts or imposes
any condition upon (a) the ability of the Borrower or any Subsidiary to create, incur or
permit to exist any Lien upon any of its property or assets, or (b) the ability of any
Subsidiary to pay dividends or other distributions with respect to any shares of its
capital stock or to make or repay loans or advances to the Borrower or any other
Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that
(i) the foregoing shall not apply to restrictions and conditions imposed by law or by
this Agreement or the other Credit Documents or, only until the Initial Borrowing Date,
restrictions or conditions imposed by any of the “Credit Documents” (as defined
in the Existing Credit Agreement), (ii) the foregoing shall not apply to restrictions and
conditions existing on the date hereof identified on Schedule 6.10 (but shall apply to
any extension or renewal of, or any amendment or modification expanding the scope of, any
such restriction or condition), (iii) the foregoing shall not apply to customary
restrictions and conditions contained in agreements relating to the sale of a Subsidiary
pending such sale, provided such restrictions and conditions apply only to the Subsidiary
that is to be sold and such sale is permitted hereunder, (iv) clause (a) of the foregoing
shall not apply to restrictions or conditions imposed by any agreement relating to
secured Indebtedness permitted by this Agreement if such restrictions or conditions apply
only to the property or assets securing such Indebtedness and (v) clause (a) of the
foregoing shall not apply to customary provisions in leases and other contracts
restricting the assignment thereof.  

        SECTION
6.11.    End of Fiscal Years; Fiscal Quarters. The Borrower
will cause (i) each of its fiscal years to end on December 31 of each year and (ii) its
fiscal quarters to end on March 31, June 30, September 30 and December 31, respectively,
of each year.  

        SECTION
6.12.    Limitation on Issuance of Capital Stock. (a) The
Borrower will not, and will not permit any of its Subsidiaries to, issue (i) any
preferred stock or other preferred equity interests other than Qualified Preferred Stock
of the Borrower or (ii) any redeemable common stock or other redeemable common equity
interests other than common stock or other redeemable common equity interests that is
redeemable at the sole option of the Borrower or such Subsidiary, as the case may be.  

106 

        (b)                 The
Borrower will not permit any of its Subsidiaries to issue any capital stock           or
other equity interests (including by way of sales of treasury stock) or any
          options or warrants to purchase, or securities convertible into, capital stock
          or other equity interests, except (i) for transfers and replacements of then
          outstanding shares of capital stock or other equity interests, (ii) for stock
          splits, stock dividends and issuances which do not decrease the percentage
          ownership of the Borrower and its Subsidiaries in any class of the capital
stock           or other equity interests of such Subsidiary, (iii) in the case of
Foreign           Subsidiaries, to qualify directors to the extent required by applicable
law and           for other nominal share issuances to Persons other than the Borrower
and its           Subsidiaries to the extent required under applicable law or (iv) for
          issuances by newly created or acquired Subsidiaries in accordance with the
terms           of this Agreement.  

        SECTION
6.13.    Limitation on Creation of Subsidiaries. The Borrower
will not, and will not permit any of its Subsidiaries to, establish, create or acquire
after the Effective Date any Subsidiary; provided that the Borrower and its
Wholly-Owned Subsidiaries shall be permitted to (A) establish, create and, to the extent
permitted by this Agreement, acquire Wholly-Owned Subsidiaries so long as (i) the equity
interests of each such new Wholly-Owned Subsidiary is pledged pursuant to, and to the
extent required by, the US Pledge Agreement, (ii) if required by Section 5.13, each such
new Wholly-Owned Domestic Subsidiary (and, to the extent required by Section 5.10, each
such new Wholly-Owned Foreign Subsidiary) executes a counterpart of the Subsidiary
Guaranty, the US Pledge Agreement and the US Security Agreement, and (iii) each such new
Wholly-Owned Domestic Subsidiary (and, to the extent required by Section 5.10, each such
new Wholly-Owned Foreign Subsidiary), to the extent requested by the Administrative Agent
or the Required Lenders, takes all actions required pursuant to Section 5.10, (B)
establish, create and acquire non-Wholly-Owned Subsidiaries in each case to the extent
permitted by Section 6.05(l) and the definition of Permitted Acquisition so long as the
equity interest of each such non-Wholly-Owned Subsidiary is pledged pursuant to, and to
the extent required by, the US Pledge Agreement and (C) consummate the Acquisition. In
addition, each such new Wholly-Owned Subsidiary which is required to become a Credit
Party shall execute and deliver, or cause to be executed and delivered, all other
relevant documentation of the type described in Article IV as such new Wholly-Owned
Subsidiary would have had to deliver if such new Wholly-Owned Subsidiary were a Credit
Party on the Effective Date.  

        SECTION
6.14.    Rental Fleet. The Borrower will not permit the
aggregate net book value of all crane products of the Borrower and its Subsidiaries that
are part of their Rental Fleet to exceed $100,000,000 at any time.  

        SECTION
6.15.    Sale-Leaseback Restriction. The Borrower will not
permit the Sale-Leaseback Differential as of the end of any fiscal quarter of the
Borrower to exceed an amount equal to 7.5% of Consolidated EBITDA for the four fiscal
quarter period then ended.  

        SECTION
6.16.    Buy-Back Limitation. The Borrower (a) will not permit
the Dollar Equivalent amount of the Buy-Back Obligations at any time to exceed an amount
equal to 12.5% of Consolidated Tangible Net Assets, determined as of the most recent
fiscal quarter end of the Borrower and (b) will not permit the Dollar Equivalent of the
aggregate amount of Buy-Back Obligations which may, under any circumstances, expire or
amortize in any fiscal year of the Borrower which ends or any portion of which occurs
prior to the Term Y Maturity Date to exceed an amount equal to 3% of Consolidated
Tangible Net Assets, determined as of the most recent fiscal quarter end of the Borrower.  

107 

        SECTION
6.17.    Swap Agreements. The Borrower will not, and will not
permit any of its Subsidiaries to, enter into any Swap Agreement, except (a) Swap
Agreements entered into to hedge or mitigate risks to which the Borrower or any
Subsidiary has actual exposure (other than those in respect of Equity Interests of the
Borrower or any of its Subsidiaries), and (b) Swap Agreements entered into in order to
effectively cap, collar or exchange interest rates (from fixed or floating rates, from
one floating rate to another floating rate or otherwise) with respect to any
interest-bearing liability or investment of the Borrower or any Subsidiary.  

        SECTION
6.18.    BPGR. The Borrower shall not permit BPGR to engage in
any activities other than those not materially different from those engaged in on the
date hereof and acting as a holding company for shares of Manitowoc Cranes, Inc. and
other Subsidiaries of the Borrower and, in any event, shall not permit BPGR to incur
Indebtedness other than Indebtedness under the Credit Documents and other Indebtedness
subordinated on terms satisfactory to the Administrative Agent to the obligations of BPGR
under the Credit Documents.  

        SECTION
6.19.    Manitowoc Asia Holdings. The Borrower shall not
permit Manitowoc Asia Holdings to engage in any activities other than those not
materially different from those engaged in on the date hereof, consisting exclusively of
acting as a holding company for the equity of Manitowoc Crane Group Asia Pte Ltd. and
other Subsidiaries of the Borrower and, in any event, shall not permit Manitowoc Asia
Holdings to incur Indebtedness other than Indebtedness under the Credit Documents and
other Indebtedness subordinated on terms satisfactory to the Administrative Agent to the
obligations of Manitowoc Asia Holdings under the Credit Documents.  

ARTICLE VII  

Events of Default 

        If
any of the following events (“Events of Default”) shall occur: 

        (a)                 any
of the Borrowers shall fail to pay any principal of any Loan or any
          reimbursement obligation in respect of any LC Disbursement when and as the same
          shall become due and payable, whether at the due date thereof or at a date
fixed           for prepayment thereof or otherwise;  

        (b)                 any
of the Borrowers shall fail to pay any interest on any Loan or any fee or           any
other amount (other than an amount referred to in clause (a) of this           Article)
payable under this Agreement, when and as the same shall become due and
          payable, and such failure shall continue unremedied for a period of three
          Business Days;  

        (c)                 any
representation or warranty made or deemed made by or on behalf of the           Borrower
or any Subsidiary in or in connection with any Credit Document or any           amendment
or modification thereof or waiver thereunder, or in any report,           certificate,
financial statement or other document furnished pursuant to or in           connection
with any Credit Document or any amendment or modification thereof or           waiver
thereunder, shall prove to have been incorrect in any material respect           when
made or deemed made;  

108 

        (d)                 the
Borrower shall fail to observe or perform any covenant, condition or           agreement
contained in Section 5.02, 5.03 (with respect to the Borrower’s           existence)
or 5.08 in Article VI or the third sentence of Section 9.02(b);  

        (e)                 the
Borrower shall fail to observe or perform any covenant, condition or           agreement
contained in this Agreement (other than those specified in clause (a),           (b) or
(d) of this Article), and such failure shall continue unremedied for a           period
of 30 days after written notice thereof from the Administrative Agent to           the
Borrower (which notice will be given at the request of any Lender);  

        (f)                 the
Borrower or any Subsidiary shall fail to make any payment (whether of           principal
or interest and regardless of amount) in respect of any Material           Indebtedness,
when and as the same shall become due and payable;  

        (g)                 any
event or condition occurs that results in any Material Indebtedness becoming
          due prior to its scheduled maturity or that enables or permits (with or without
          the giving of notice, the lapse of time or both) the holder or holders of any
          Material Indebtedness or any trustee or agent on its or their behalf to cause
          any Material Indebtedness to become due, or to require the prepayment,
          repurchase, redemption or defeasance thereof, prior to its scheduled maturity;
provided that this clause (g) shall not apply to secured Indebtedness
          that becomes due as a result of the voluntary sale or transfer of the property
          or assets securing such Indebtedness;  

        (h)                 an
involuntary proceeding shall be commenced or an involuntary petition shall be
          filed seeking (i) liquidation, reorganization or other relief in respect of the
          Borrower or any Material Subsidiary or its debts, or of a substantial part of
          its assets, under any Federal, state or foreign bankruptcy, insolvency,
          receivership or similar law now or hereafter in effect or (ii) the appointment
          of a receiver, trustee, custodian, sequestrator, conservator or similar
official           for the Borrower or any Material Subsidiary or for a substantial part
of its           assets, and, in any such case, such proceeding or petition shall
continue           undismissed for 60 days or an order or decree approving or ordering
any of the           foregoing shall be entered;  

        (i)                 the
Borrower or any Material Subsidiary shall (i) voluntarily commence any
          proceeding or file any petition seeking liquidation, reorganization or other
          relief under any Federal, state or foreign bankruptcy, insolvency, receivership
          or similar law now or hereafter in effect, (ii) consent to the institution of,
          or fail to contest in a timely and appropriate manner, any proceeding or
          petition described in clause (h) of this Article, (iii) apply for or consent to
          the appointment of a receiver, trustee, custodian, sequestrator, conservator or
          similar official for the Borrower or any Material Subsidiary or for a
          substantial part of its assets, (iv) file an answer admitting the material
          allegations of a petition filed against it in any such proceeding, (v) make a
          general assignment for the benefit of creditors or (vi) take any action for the
          purpose of effecting any of the foregoing;  

        (j)                 the
Borrower or any Material Subsidiary shall become unable, admit in writing           its
inability or fail generally to pay its debts as they become due;  

        (k)                 one
or more judgments for the payment of money in an aggregate amount in excess           of
$20,000,000 shall be rendered against the Borrower, any Material Subsidiary           or
any combination thereof and the same shall remain undischarged for a period           of
30 consecutive days during which execution shall not be effectively stayed,           or
any action shall be legally taken by a judgment creditor to attach or levy           upon
any assets of the Borrower or any Material Subsidiary to enforce any such
          judgment;  

109  

        (l)                 an
ERISA Event shall have occurred that, in the opinion of the Required Lenders,
          when taken together with all other ERISA Events that have occurred, could
          reasonably be expected to result in liability of the Borrower and its
          Subsidiaries in an aggregate amount exceeding $20,000,000;  

        (m)                 a
Change in Control shall occur;  

        (n)                 (i)
any Security Document shall cease to be in full force and effect, or shall
          cease to give the Collateral Agent for the benefit of the Secured Creditors,
the           Liens, rights, powers and privileges purported to be created thereby, or
any           Credit Party shall deny or disaffirm such Credit Party’s obligations
under           any Security Document or the Liens granted thereunder, or (ii) any Credit
Party           shall default in the due performance or observance of any term, covenant
or           agreement on its part to be performed or observed pursuant to any such
Security           Document and such default shall continue beyond the period of grace,
if any,           specifically applicable thereto pursuant to the terms of such Security
Document;           or  

        (o)                 except
as otherwise provided in Section 6.03(a)(x) or (xi), (i) the Subsidiary
          Guaranty or any provision thereof shall cease to be in full force or effect as
          to any Subsidiary Guarantor, or any Subsidiary Guarantor or any Person acting
          for or on behalf of such Subsidiary Guarantor shall deny or disaffirm such
          Subsidiary Guarantor’s obligations under the Subsidiary Guaranty or (ii)
          any Subsidiary Guarantor shall default in the due performance or observance of
          any term, covenant or agreement on its part to be performed or observed
pursuant           to the Subsidiary Guaranty; or  

        (p)                 (i)
the Parent Guaranty or any provision thereof shall cease to be in full force           or
effect or the Borrower or any Person acting for or on behalf of the Borrower
          shall deny or disaffirm the Borrower’s obligations under the Parent
          Guaranty or (ii) the Borrower shall default in the due performance or
observance           of any term, covenant or agreement on its part to be performed or
observed           pursuant to the Parent Guaranty;  

then, and in every such event (other
than an event with respect to any of the Borrowers described in clause (h) or (i) of this
Article), and at any time thereafter during the continuance of such event, the
Administrative Agent may, and at the request of the Required Lenders shall, by notice to
the Borrower, take either or both of the following actions, at the same or different
times: (i) terminate the Commitments, and thereupon the Commitments shall terminate
immediately, and (ii) declare the Loans then outstanding to be due and payable in whole
(or in part, in which case any principal not so declared to be due and payable may
thereafter be declared to be due and payable), and thereupon the principal of the Loans so
declared to be due and payable, together with accrued interest thereon and all fees and
other obligations of the Borrowers accrued hereunder, shall become due and payable
immediately, without presentment, demand, protest or other notice of any kind, all of
which are hereby waived by the Borrowers; and in case of any event with respect to any of
the Borrowers described in clause (h) or (i) of this Article, the Commitments shall
automatically terminate and the principal of the Loans then outstanding, together with
accrued interest thereon and all fees and other obligations of the Borrowers accrued
hereunder, shall automatically become due and payable, without presentment, demand,
protest or other notice of any kind, all of which are hereby waived by the Borrowers. 

110 

Notwithstanding any other provision
of any Credit Document: 

        (a)                 any
breach of a representation, warranty or covenant set forth in any Credit
          Document; or  

        (b)                 any
Event of Default (other than an Event of Default under paragraph (a), (b),           (h),
(i) or (j) of Article VII),  

(each, a “Curable
Circumstance”) will be deemed not to be a breach of representation or warranty, a
breach of covenant or an Event of Default (as the case may be) during the period expiring
on the day (the “Clean-Up Date”) falling 90 days after the Unconditional
Date, if: 

	 	(i) 	it
would have been (if it were not for this provision) a breach of
               representation or warranty, a breach of covenant or an Event of Default
only by                reason of circumstances relating exclusively to any member of the
Target Group                (or any obligation to procure or ensure in relation to a
member of the Target                Group);  

	 	(ii) 	it
is capable of remedy and reasonable steps are being taken to remedy it;  

	 	(iii) 	the
circumstances giving rise to it have not been procured by (A) the Borrower
               or (B) a Subsidiary of the Borrower which is not a member of the Target
Group,                and neither the Borrower nor any such Subsidiary has acquiesced to
such                circumstances where they were legally able to avoid them; and  

	 	(iv) 	it
could not reasonably be expected (either individually or in the aggregate
               with all other Curable Circumstances) to have a Material Adverse Effect.  

If the relevant circumstances are
continuing on or after the Clean-Up Date, there shall be a breach of representation or
warranty, breach of covenant or Event of Default, as the case may be notwithstanding the
above (and without prejudice to the rights and remedies of the Lenders, the Administrative
Agent and the Collateral Agent). 

ARTICLE VIII  

The Administrative Agent 

        SECTION
8.01.    The Administrative Agent. 

        (a)                 Each
of the Lenders and the Issuing Bank hereby irrevocably appoints the
          Administrative Agent as its agent and authorizes the Administrative Agent to
          take such actions on its behalf and to exercise such powers as are delegated to
          the Administrative Agent by the terms hereof, together with such actions and
          powers as are reasonably incidental thereto.  

111 

        (b)                 The
bank serving as the Administrative Agent hereunder shall have the same           rights
and powers in its capacity as a Lender as any other Lender and may           exercise the
same as though it were not the Administrative Agent, and such bank           and its
Affiliates may accept deposits from, lend money to and generally engage           in any
kind of business with the Borrower or any Subsidiary or other Affiliate           thereof
as if it were not the Administrative Agent hereunder.  

        (c)                 The
Administrative Agent shall not have any duties or obligations except those
          expressly set forth herein. Without limiting the generality of the foregoing,
          (i) the Administrative Agent shall not be subject to any fiduciary or other
          implied duties, regardless of whether a Default has occurred and is continuing,
          (ii) the Administrative Agent shall not have any duty to take any discretionary
          action or exercise any discretionary powers, except discretionary rights and
          powers expressly contemplated hereby that the Administrative Agent is required
          to exercise in writing as directed by the Required Lenders (or such other
number           or percentage of the Lenders as shall be necessary under the
circumstances as           provided in Section 9.02), and (iii) except as expressly set
forth herein, the           Administrative Agent shall not have any duty to disclose, and
shall not be           liable for the failure to disclose, any information relating to
the Borrower or           any of its Subsidiaries that is communicated to or obtained by
the bank serving           as Administrative Agent or any of its Affiliates in any
capacity. The           Administrative Agent shall not be liable for any action taken or
not taken by it           with the consent or at the request of the Required Lenders (or
such other number           or percentage of the Lenders as shall be necessary under the
circumstances as           provided in Section 9.02) or in the absence of its own gross
negligence or           willful misconduct. The Administrative Agent shall be deemed not
to have           knowledge of any Default unless and until written notice thereof is
given to the           Administrative Agent by the Borrower or a Lender, and the
Administrative Agent           shall not be responsible for or have any duty to ascertain
or inquire into (i)           any statement, warranty or representation made in or in
connection with this           Agreement, (ii) the contents of any certificate, report or
other document           delivered hereunder or in connection herewith, (iii) the
performance or           observance of any of the covenants, agreements or other terms or
conditions set           forth herein, (iv) the validity, enforceability, effectiveness
or genuineness of           this Agreement or any other agreement, instrument or
document, or (v) the           satisfaction of any condition set forth in Article IV or
elsewhere herein, other           than to confirm receipt of items expressly required to
be delivered to the           Administrative Agent.  

        (d)                 The
Administrative Agent shall be entitled to rely upon, and shall not incur any
          liability for relying upon, any notice, request, certificate, consent,
          statement, instrument, document or other writing believed by it to be genuine
          and to have been signed or sent by the proper Person. The Administrative Agent
          also may rely upon any statement made to it orally or by telephone and believed
          by it to be made by the proper Person, and shall not incur any liability for
          relying thereon. The Administrative Agent may consult with legal counsel (who
          may be counsel for the Borrower), independent accountants and other experts
          selected by it, and shall not be liable for any action taken or not taken by it
          in accordance with the advice of any such counsel, accountants or experts.  

112 

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

        (f)                 Subject
to the appointment and acceptance of a successor Administrative Agent as
          provided in this paragraph, the Administrative Agent may resign at any time by
          notifying the Lenders, the Issuing Bank and the Borrower. Upon any such
          resignation, the Required Lenders shall have the right, in consultation with
the           Borrower, to appoint a successor. If no successor shall have been so
appointed           by the Required Lenders and shall have accepted such appointment
within 30 days           after the retiring Administrative Agent gives notice of its
resignation, then           the retiring Administrative Agent may, on behalf of the
Lenders and the Issuing           Bank, appoint a successor Administrative Agent which
shall be a bank with an           office in New York, New York, or an Affiliate of any
such bank. Upon the           acceptance of its appointment as Administrative Agent
hereunder by a successor,           such successor shall succeed to and become vested
with all the rights, powers,           privileges and duties of the retiring
Administrative Agent, and the retiring           Administrative Agent shall be discharged
from its duties and obligations           hereunder. The fees payable by the Borrower to
a successor Administrative Agent           shall be the same as those payable to its
predecessor unless otherwise agreed           between the Borrower and such successor.
After the Administrative Agent’s           resignation hereunder, the provisions of
this Article and Section 9.03 shall           continue in effect for the benefit of such
retiring Administrative Agent, its           sub agents and their respective Related
Parties in respect of any actions taken           or omitted to be taken by any of them
while it was acting as Administrative           Agent.  

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

        (h)                 The
Administrative Agent shall be permitted from time to time to designate one           of
its Affiliates to perform the duties to be performed by the Administrative
          Agent hereunder with respect to Loans and Borrowings denominated in Foreign
          Currencies. The provisions of this Article VIII shall apply to any such
          Affiliate mutatis mutandis. All provisions of this Article VIII
          relating to the Administrative Agent shall be equally applicable to the
          Collateral Agent mutatis mutandis.  

113 

        Without
limiting the foregoing, if any Collateral or any Subsidiary is sold in a transaction
permitted hereunder (excluding sales to the Borrower or a Subsidiary thereof other than
sales comprising part of a Permitted Securitization made to a Subsidiary which is an SPC),
(a) such Collateral and the assets of such Subsidiary shall be sold free and clear of the
Liens created by the Security Documents and (b) in the case of such a sale of a Subsidiary
Guarantor, such Subsidiary Guarantor and its subsidiaries shall be released from the
Subsidiary Guaranty and, in each case, the Administrative Agent, the Collateral Agent and
the UK Security Trustee shall be authorized to take any actions deemed appropriate in
order to effect the foregoing. Each of the Administrative Agent, the Collateral Agent and
the UK Security Trustee shall also be authorized, on behalf of the Lenders, to enter into
such amendments of the Security Documents and to enter into such agreements (including
intercreditor agreements but excluding any releases of Collateral not otherwise authorized
hereby) as, in either case, it deems necessary or appropriate in connection with a
Permitted Securitization. Additionally, in connection with the granting of Liens of the
type described in clauses (i), (j), (m) or (s) of Section 6.02 by the Borrower or any of
its Subsidiaries, each of the Administrative Agent, the Collateral Agent and the UK
Security Trustee is authorized to take any actions deemed appropriate by it in connection
therewith (including, without limitation, the execution of appropriate lien releases or
lien subordination agreements in favor of the holder or holders of such Liens, in either
case solely with respect to the item or items of equipment or other assets subject to such
Liens. 

        SECTION
8.02.    Administrative Agent as UK Security Trustee. 

        (a)                 In
this Agreement, any rights and remedies exercisable by, any documents to be
          delivered to, or any other indemnities or obligations in favor of the
          Administrative Agent shall be, as the case may be, exercisable by, delivered
to,           or be indemnities or other obligations in favor of, the Administrative
Agent (or           any other Person acting in such capacity) in its capacity as the UK
Security           Trustee to the extent that the rights, deliveries, indemnities or
other           obligations relate to the UK Security Agreements or the security thereby
          created. Any obligations of the Administrative Agent (or any other Person
acting           in such capacity) in this Agreement shall be obligations of the
Administrative           Agent in its capacity as UK Security Trustee to the extent that
the obligations           relate to the UK Security Agreement or the security thereby
created.           Additionally, in its capacity as UK Security Trustee, the
Administrative Agent           (or any Person acting in such capacity) shall have all the
rights, remedies, and           benefits in favor of the Administrative Agent contained
in the provisions of the           whole of this Article VIII and, subject always to the
provisions of the UK           Security Agreement, (i) all the powers of an absolute
owner of the security           constituted by the US Pledge Agreement governed by
English law and (ii) all the           rights, remedies and powers granted to it and be
subject to all the obligations           and duties owed by it under the UK Security
Agreements and/or any of the Credit           Documents.  

        (b)                 Each
Lender and the Administrative Agent hereby appoint the UK Security Trustee           to
act as its trustee under and in relation to the UK Security Agreements and to
          hold the assets subject to the security thereby created as trustee for the
          Administrative Agent and Lenders on the trusts and other terms contained in the
          UK Security Agreements and the Administrative Agent and each Lender hereby
          irrevocably authorize the UK Security Trustee to exercise such rights,
remedies,           powers and discretions as are specifically delegated to the UK
Security Trustee           by the terms of the UK Security Agreements together with all
such rights,           remedies, powers and discretions as are reasonably incidental
thereto.  

114 

        (c)                 Any
reference in this Agreement to Liens stated to be in favor of the
          Administrative Agent shall be construed so as to include a reference to Liens
          granted in favor of the UK Security Trustee.  

        (d)                 The
Lenders agree that at any time that the UK Security Trustee shall be a           Person
other than the Administrative Agent, such other Person shall have the           rights,
remedies, benefits and powers granted to the Administrative Agent in its
          capacity as the UK Security Trustee in this Agreement.  

        (e)                 Nothing
in this Section 8.02 shall require the UK Security Trustee to act as a           trustee
at common law or to be holding any property on trust, in any           jurisdiction
outside the United States or the United Kingdom which may not           operate under
principles of trust or where such trust would not be recognized or           its effects
would not be enforceable.  

ARTICLE IX  

Miscellaneous 

        SECTION
9.01.    Notices. (a) Except in the case of notices and other
communications expressly permitted to be given by telephone (and subject to paragraph (b)
below), all notices and other communications provided for herein shall be in writing and
shall be delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by telecopy, as follows:  

	 	        (i)                      if
to the Borrower or any Subsidiary Borrower, to it at The Manitowoc Company,
               Inc., 2400 South 44th Street, Manitowoc, Wisconsin 54221,
Attention                of Carl Laurino, Chief Financial Officer and Dean Nolden, Vice
President of                Finance and Assistant Treasurer, (Telecopy No. (920)
652-9775), with a copy to                Foley & Lardner LLP, 777 East Wisconsin
Avenue, Milwaukee, Wisconsin 53202,                Attn: Emory Ireland (Telecopy No.
414-297-4900);  

	 	        (ii)                      if
to the Administrative Agent, to JPMorgan Chase Bank, N.A., Loan Operations,
               10 South Dearborn, Floor 07, Chicago, Illinois 60603-2003, Attention of
Cheryl                Lyons (Telecopy No. 312-385-7103; email: Cheryl.x.lyons@jpmchase.com),
               and, in the case of any Loan denominated in a Foreign Currency, to the
J.P.                Morgan Europe Limited, 125 Loan Wall, London, EC2Y 5AJ, Attn: Loans
Agency                (Telecopy No. 44 207 777 2360);  

	 	        (iii)                      if
to the Issuing Bank, to it at JPMorgan Chase Bank, N.A., Letter of Credit
               Group, 10 South Dearborn, Floor 07, Chicago, IL 60603-2003, Attention of
Phyllis                Huggins (Telecopy No. 312-732-2729);  

	 	        (iv)                      if
to the Swingline Lender, c/o the Administrative Agent at the address set
               forth in clause (ii) above; and  

	 	        (v)                      if
to the Alternate Currency Fronting Lender, c/o the Administrative Agent at
               the address set forth in clause (ii) above; and  

115 

	 	        (vi)                      if
to any other Lender, to it at its address (or telecopy number) set forth in
               its Administrative Questionnaire.  

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

        (c)                      Any
party hereto may change its address or telecopy number for notices and other
               communications hereunder by notice to the other parties hereto. All
notices and                other communications given to any party hereto in accordance
with the provisions                of this Agreement shall be deemed to have been given
on the date of receipt.  

        SECTION
9.02.    Waivers; Amendments. (a) No failure or delay by the
Administrative Agent, the Issuing Bank or any Lender in exercising any right or power
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of
any such right or power, or any abandonment or discontinuance of steps to enforce such a
right or power, preclude any other or further exercise thereof or the exercise of any
other right or power. The rights and remedies of the Administrative Agent, the Issuing
Bank and the Lenders hereunder are cumulative and are not exclusive of any rights or
remedies that they would otherwise have. No waiver of any provision of this Agreement or
consent to any departure by the Borrowers therefrom shall in any event be effective
unless the same shall be permitted by paragraph (b) of this Section, and then such waiver
or consent shall be effective only in the specific instance and for the purpose for which
given. Without limiting the generality of the foregoing, the making of a Loan or issuance
of a Letter of Credit shall not be construed as a waiver of any Default, regardless of
whether the Administrative Agent, any Lender or the Issuing Bank may have had notice or
knowledge of such Default at the time.  

116 

        (b)                 Neither
this Agreement nor any provision hereof may be waived, amended or           modified
except pursuant to an agreement or agreements in writing entered into           by the
Borrower and the Required Lenders or by the Borrower and the           Administrative
Agent with the consent of the Required Lenders; provided          that no such
agreement shall (i) increase the Commitment of any Lender without           the written
consent of such Lender, (ii) reduce or forgive the principal amount           of any Loan
or LC Disbursement or reduce the rate of interest thereon, or reduce           any fees
payable hereunder, without the written consent of each Lender affected           thereby,
(iii) postpone the scheduled date of payment of the principal amount of           any
Loan or LC Disbursement, or any interest thereon, or any fees payable
          hereunder, or reduce the amount of, waive or excuse any such payment, postpone
          the scheduled date of expiration of any Commitment (it being understood that an
          amendment or waiver extending the Certain Funds Period shall not be deemed to
          constitute such a postponement) or extend the stated expiration date of any
          Letter of Credit beyond the Revolving Maturity Date, without the written
consent           of each Lender affected thereby, (iv) change Section 2.19(b) or (c) in
a manner           that would alter the pro rata sharing of payments required thereby,
without the           written consent of each Lender, (v) change any of the provisions of
this Section           or the definition of “Required Lenders” or any other
provision hereof           (including Sections 4.02(h)(iv) and 5.15) specifying the
number or percentage of           Lenders required to waive, amend or modify any rights
hereunder or make any           determination or grant any consent hereunder, without the
written consent of           each Lender, (vi) release all or substantially all of the
Collateral or release           any Subsidiary Guarantor from its obligations under the
Subsidiary Guaranty,           except in connection with the sale of a Subsidiary
Guarantor permitted under           this Agreement, without the written consent of each
Lender, (vii) except as           permitted by the terms hereof on the date hereof,
change the currency of any           Loan or the currency in which any Commitment is
required to be funded without           the written consent of each Lender affected
thereby or (viii) alter the amount           or the application of any prepayment
required by Section 2.12 without the           consent of Lenders holding at least 50.1%
of the Term Loans and/or Term           Commitments, as applicable, affected thereby; provided
further that no           such agreement shall amend, modify or otherwise affect the
rights or duties of           the Administrative Agent, the Issuing Bank, the Alternate
Currency Fronting           Lender, the Swingline Lender hereunder without the prior
written consent of the           Administrative Agent, the Issuing Bank, the Alternate
Currency Fronting Lender,           the Swingline Lender, as the case may be.
Notwithstanding the foregoing, (i)           upon the execution and delivery of all
documentation required by Section 2.09(d)           to be delivered in connection with an
increase to the total Commitments, the           Administrative Agent, the Borrower and
the new or existing Lenders whose           Commitments have been affected may and shall
enter into an amendment hereof           (which shall be binding on all parties hereto
and the new Lenders) solely for           the purpose of reflecting any new Lenders and
their new Commitments and any           increase in the Commitment of any existing Lender
and (ii) no consent of any           Credit Party (nor, to the extent that the amendments
referred to below are not           materially adverse to the interests of the Lenders,
the consent of any Lender           other than the Initial Lenders (at least two) holding
51% or more of the sum of           the total Revolving Credit Exposures, unused
Revolving Commitments, unused Term           Commitments and outstanding Term Loans at
such time (the “Flex           Lenders”)) shall be required in connection with
an amendment hereof or of           any other Credit Document being made pursuant to the
letter agreement dated           April 13, 2008 among the Borrower, the Arrangers and
certain of their Lender           Affiliates relating to fees and “flex” matters.
The Borrower shall (A)           at such time as the Flex Lenders shall request, execute
and cause its           Subsidiaries to execute such amendments to this Agreement or the
other Credit           Documents as may be requested by the Flex Lenders to effect
compliance by the           Borrower with its obligations under such letter agreement (in
each case without           respect to whether such execution by the Borrower is, giving
effect to           subsection (ii) of the preceding sentence, required for the
effectiveness           thereof) and (B) otherwise comply with its obligations under such
letter           agreement.  

        SECTION
9.03.    Expenses; Indemnity; Damage Waiver. (a) The Borrower
shall pay (i) all reasonable out of pocket expenses incurred by the Administrative Agent
and its Affiliates, including the reasonable fees, charges and disbursements of counsel
for the Administrative Agent, in connection with the syndication of the credit facilities
provided for herein, the preparation and administration of this Agreement or any
amendments, modifications or waivers of the provisions hereof (whether or not the
transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable
out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance,
amendment, renewal or extension of any Letter of Credit or any demand for payment
thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, the
Collateral Agent, the Issuing Bank or any Lender, including the fees, charges and
disbursements of any counsel for the Administrative Agent, the Issuing Bank or any
Lender, in connection with the enforcement or protection of its rights in connection with
this Agreement, including its rights under this Section, or in connection with the Loans
made or Letters of Credit issued hereunder, including all such out-of pocket expenses
incurred during any workout, restructuring or negotiations in respect of such Loans or
Letters of Credit.  

117 

        (b)                 The
Borrower shall indemnify the Administrative Agent, the Collateral Agent, the
          Issuing Bank and each Lender, and each Related Party of any of the foregoing
          Persons (each such Person being called an “Indemnitee”)
          against, and hold each Indemnitee harmless from, any and all losses, claims,
          damages, liabilities and related expenses, including the fees, charges and
          disbursements of any counsel for any Indemnitee, incurred by or asserted
against           any Indemnitee arising out of, in connection with, or as a result of
(i) the           execution or delivery of this Agreement or any agreement or instrument
          contemplated hereby, the performance by the parties hereto of their respective
          obligations hereunder or the consummation of the Transactions, the Acquisition
          or any other transactions contemplated hereby, (ii) any Loan or Letter of
Credit           or the use of the proceeds therefrom (including any refusal by the
Issuing Bank           to honor a demand for payment under a Letter of Credit if the
documents           presented in connection with such demand do not strictly comply with
the terms           of such Letter of Credit), (iii) any actual or alleged presence or
release of           Hazardous Materials on or from any property owned or operated by the
Borrower or           any of its Subsidiaries, or any Environmental Liability related in
any way to           the Borrower or any of its Subsidiaries, or (iv) any actual or
prospective           claim, litigation, investigation or proceeding relating to any of
the foregoing,           whether based on contract, tort or any other theory and
regardless of whether           any Indemnitee is a party thereto; provided that
such indemnity shall           not, as to any Indemnitee, be available to the extent that
such losses, claims,           damages, liabilities or related expenses are determined by
a court of competent           jurisdiction by final and nonappealable judgment to have
resulted from the gross           negligence or willful misconduct of such Indemnitee.  

        (c)                 To
the extent that the Borrower fails to pay any amount required to be paid by           it
to the Administrative Agent, the Collateral Agent, the Issuing Bank, the
          Alternate Currency Fronting Lender or the Swingline Lender under paragraph (a)
          or (b) of this Section (and without limiting its obligation to do so), each
          Lender severally agrees to pay to the Administrative Agent, the Issuing Bank,
          the Alternate Currency Fronting Lender or the Swingline Lender, as the case may
          be, such Lender’s ratable share (determined as of the time that the
          applicable unreimbursed expense or indemnity payment is sought by reference to
          the aggregate outstanding Term Loans and unused Term Commitments (or, if such
          Term Commitments have terminated, aggregate outstanding Term Loans) and
          Revolving Commitments (or, if such Revolving Commitments have terminated,
          aggregate Revolving Credit Exposure)) of such unpaid amount; provided that
the unreimbursed expense or indemnified loss, claim, damage, liability           or
related expense, as the case may be, was incurred by or asserted against the
          Administrative Agent, the Issuing Bank, the Alternate Currency Fronting Lender
          or the Swingline Lender in its capacity as such.  

        (d)                 To
the extent permitted by applicable law, the Borrowers shall not assert, and
          hereby waive, any claim against any Indemnitee, on any theory of liability, for
          special, indirect, consequential or punitive damages (as opposed to direct or
          actual damages) arising out of, in connection with, or as a result of, this
          Agreement or any agreement or instrument contemplated hereby, the Transactions,
          any Loan or Letter of Credit or the use of the proceeds thereof.  

118 

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

        SECTION
9.04.    Successors and Assigns. (a) The provisions of this
Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns permitted hereby (including J. P. Morgan Europe Limited
and any Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i)
the Borrowers may not assign or otherwise transfer any of their respective rights or
obligations hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by the Borrowers without such consent shall be null and void) and
(ii) no Lender may assign or otherwise transfer its rights or obligations hereunder
except in accordance with this Section. Nothing in this Agreement, expressed or implied,
shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and assigns permitted hereby (including J. P. Morgan Europe Limited
and any Affiliate of the Issuing Bank that issues any Letter of Credit), Participants (to
the extent provided in paragraph (c) of this Section) and, to the extent expressly
contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing
Bank and the Lenders) any legal or equitable right, remedy or claim under or by reason of
this Agreement.  

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

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

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

	 	        (C)                      each
Issuing Bank; provided that no consent of any Issuing Bank shall be
               required for an assignment of all or any portion of a Term Loan.  

	 	        (D)                     JPMorgan,
in its capacity as the Alternate Currency Fronting Lender; provided                that
no consent of the Alternate Currency Fronting Lender shall be required for
               an assignment of all or any portion of a Term Loan.  

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

	 	        (A)                      except
in the case of an assignment to a Lender or an Affiliate of a Lender or                an
assignment of the entire remaining amount of the assigning Lender’s
               Commitment or Loans of any Class, the amount of the Commitment or Loans of
the                assigning Lender subject to each such assignment (determined as of the
date the                Assignment and Assumption with respect to such assignment is
delivered to the                Administrative Agent) shall not be less than $5,000,000
(or, in the case of a                Term Loan, $1,000,000) unless each of the Borrower
and the Administrative Agent                otherwise consent, provided that no
such consent of the Borrower shall be                required if an Event of Default has
occurred and is continuing;  

119 

	 	        (B)                      each
partial assignment shall be made as an assignment of a proportionate part
               of all the assigning Lender’s rights and obligations under this
Agreement, provided that this clause shall not be construed to prohibit the
               assignment of a proportionate part of all the assigning Lender’s
rights and                obligations in respect of one Class of Commitments or Loans;
and provided further that assignments of Alternate Currency Loans to the
Alternate                Currency Fronting Lender as described in clause (ii) of Section
2.04(m) or by                the Alternate Currency Fronting Lender to a Lender which
becomes an Alternate                Currency Lender shall not be required to be made as a
proportionate part of the                assigning Lender’s Commitment;  

	 	        (C)                      the
parties to each assignment shall execute and deliver to the Administrative
               Agent an Assignment and Assumption, together with a processing and
recordation                fee of $3,500, except that no fee shall be required in the
event of an                assignment by a Lender to an Affiliate of such Lender; and  

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

        For
the purposes of this Section 9.04(b), the term “Approved Fund” has the
following meaning: 

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

	 	        (iii)                      Subject
to acceptance and recording thereof pursuant to paragraph (b)(iv) of                this
Section, from and after the effective date specified in each Assignment and
               Assumption the assignee thereunder shall be a party hereto and, to the
extent of                the interest assigned by such Assignment and Assumption, have
the rights and                obligations of a Lender under this Agreement, and the
assigning Lender                thereunder shall, to the extent of the interest assigned
by such Assignment and                Assumption, be released from its obligations under
this Agreement (and, in the                case of an Assignment and Assumption covering
all of the assigning Lender’s                rights and obligations under this
Agreement, such Lender shall cease to be a                party hereto but shall continue
to be entitled to the benefits of Sections 2.16,                2.17, 2.18 and 9.03). Any
assignment or transfer by a Lender of rights or                obligations under this
Agreement that does not comply with this Section 9.04                shall be treated for
purposes of this Agreement as a sale by such Lender of a                participation in
such rights and obligations in accordance with paragraph (c) of                this
Section.  

120 

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

	 	        (v)                      Upon
its receipt of a duly completed Assignment and Assumption executed by an
               assigning Lender and an assignee, the assignee’s completed
Administrative                Questionnaire (unless the assignee shall already be a
Lender hereunder), the                processing and recordation fee referred to in
paragraph (b) of this Section and                any written consent to such assignment
required by paragraph (b) of this                Section, the Administrative Agent shall
accept such Assignment and Assumption                and record the information contained
therein in the Register; provided               that if either the assigning
Lender or the assignee shall have failed to make                any payment required to
be made by it pursuant to Section 2.05(c), 2.06(d) or                (e), 2.07(b),
2.19(d) or 9.03(c), the Administrative Agent shall have no                obligation to
accept such Assignment and Assumption and record the information                therein
in the Register unless and until such payment shall have been made in
               full, together with all accrued interest thereon. No assignment shall be
               effective for purposes of this Agreement unless it has been recorded in
the                Register as provided in this paragraph.  

        (c)                      (i)
Any Lender may, without the consent of the Borrowers, the Administrative
               Agent, the Issuing Bank, the Alternate Currency Fronting Lender or the
Swingline                Lender, sell participations to one or more banks or other
entities (a                “Participant”) in all or a portion of such
Lender’s rights                and obligations under this Agreement (including all
or a portion of its                Commitment and the Loans owing to it); provided that
(A) such                Lender’s obligations under this Agreement shall remain
unchanged, (B) such                Lender shall remain solely responsible to the other
parties hereto for the                performance of such obligations and (C) the
Borrowers, the Administrative Agent,                the Issuing Bank and the other
Lenders shall continue to deal solely and                directly with such Lender in
connection with such Lender’s rights and                obligations under this
Agreement. Any agreement or instrument pursuant to which                a Lender sells
such a participation shall provide that such Lender shall retain                the sole
right to enforce this Agreement and to approve any amendment,                modification
or waiver of any provision of this Agreement; provided that                such
agreement or instrument may provide that such Lender will not, without the
               consent of the Participant, agree to any amendment, modification or waiver
               described in the first proviso to Section 9.02(b) that affects such
Participant.                Subject to paragraph (c)(ii) of this Section, the Borrowers
agree that each                Participant shall be entitled to the benefits of Sections
2.16, 2.17 and 2.18 to                the same extent as if it were a Lender and had
acquired its interest by                assignment pursuant to paragraph (b) of this
Section. To the extent permitted by                law, each Participant also shall be
entitled to the benefits of Section 9.08 as                though it were a Lender,
provided such Participant agrees to be subject to                Section 2.19(c) as
though it were a Lender.  

121 

	 	        (ii)                      A
Participant shall not be entitled to receive any greater payment under Section
               2.16 or 2.18 than the applicable Lender would have been entitled to
receive with                respect to the participation sold to such Participant, unless
the sale of the                participation to such Participant is made with the Borrower’s
prior written                consent. A Participant that would be a Foreign Lender if it
were a Lender shall                not be entitled to the benefits of Section 2.18 unless
the Borrower is notified                of the participation sold to such Participant and
such Participant agrees, for                the benefit of the Borrower, to comply with
Section 2.18(e) as though it were a                Lender.  

        (d)                      Any
Lender may, without the consent of the Borrower or the Administrative Agent,
               at any time pledge or assign a security interest in all or any portion of
its                rights under this Agreement to secure obligations of such Lender,
including                without limitation any pledge or assignment to secure
obligations to a Federal                Reserve Bank, and this Section shall not apply to
any such pledge or assignment                of a security interest; provided that
no such pledge or assignment of a                security interest shall release a Lender
from any of its obligations hereunder                or substitute any such pledgee or
assignee for such Lender as a party hereto.  

        SECTION
9.05.    Survival. All covenants, agreements, representations
and warranties made by the Borrowers herein and in the certificates or other instruments
delivered in connection with or pursuant to this Agreement shall be considered to have
been relied upon by the other parties hereto and shall survive the execution and delivery
of this Agreement and the making of any Loans and issuance of any Letters of Credit,
regardless of any investigation made by any such other party or on its behalf and
notwithstanding that the Administrative Agent, the Collateral Agent, the Issuing Bank or
any Lender may have had notice or knowledge of any Default or incorrect representation or
warranty at the time any credit is extended hereunder, and shall continue in full force
and effect as long as the principal of or any accrued interest on any Loan or any fee or
any other amount payable under this Agreement is outstanding and unpaid or any Letter of
Credit is outstanding and so long as the Commitments have not expired or terminated. The
provisions of Sections 2.16, 2.17, 2.18 and 9.03 and Article VIII shall survive and
remain in full force and effect regardless of the consummation of the transactions
contemplated hereby, the repayment of the Loans, the expiration or termination of the
Letters of Credit and the Commitments or the termination of this Agreement or any
provision hereof.  

        SECTION
9.06.    Counterparts; Integration; Effectiveness. This
Agreement may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. This Agreement and any separate letter
agreements with respect to fees payable to the Administrative Agent or any Arranger
constitute the entire contract among the parties relating to the subject matter hereof
and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof. The Borrower agrees to comply with its obligations
under such letter agreements. Except as provided in Section 4.01, this Agreement shall
become effective when it shall have been executed by the Administrative Agent and when
the Administrative Agent shall have received counterparts hereof which, when taken
together, bear the signatures of each of the other parties hereto, and thereafter shall
be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns. Delivery of an executed counterpart of a signature page of this
Agreement by telecopy shall be effective as delivery of a manually executed counterpart
of this Agreement.  

122 

        SECTION
9.07.    Severability. Any provision of this Agreement held to
be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such invalidity, illegality or unenforceability without
affecting the validity, legality and enforceability of the remaining provisions hereof;
and the invalidity of a particular provision in a particular jurisdiction shall not
invalidate such provision in any other jurisdiction.  

        SECTION
9.08.    Right of Set-off. If an Event of Default shall have
occurred and be continuing, each Lender and each of its Affiliates is hereby authorized
at any time and from time to time, to the fullest extent permitted by law, to set off and
apply any and all deposits (general or special, time or demand, provisional or final) at
any time held and other obligations at any time owing by such Lender or Affiliate to or
for the credit or the account of any of the Borrowers against any of and all the
obligations of such Person now or hereafter existing under this Agreement held by such
Lender, irrespective of whether or not such Lender shall have made any demand under this
Agreement and although such obligations may be unmatured. The rights of each Lender under
this Section are in addition to other rights and remedies (including other rights of
set-off) which such Lender may have.  

        SECTION
9.09.    Governing Law; Jurisdiction; Consent to Service of Process.
(a) This Agreement shall be construed in accordance with and governed by the law (without
regard to conflict of law provisions) of the State of New York.  

        (b)                 Each
of the Borrowers hereby irrevocably and unconditionally submits, for itself           and
its property, to the nonexclusive jurisdiction of the Supreme Court of the
          State of New York sitting in New York County and of the United States District
          Court of the Southern District of New York, and any appellate court from any
          thereof, in any action or proceeding arising out of or relating to this
          Agreement, or for recognition or enforcement of any judgment, and each of the
          parties hereto hereby irrevocably and unconditionally agrees that all claims in
          respect of any such action or proceeding may be heard and determined in such
New           York State or, to the extent permitted by law, in such Federal court. Each
of           the parties hereto agrees that a final judgment in any such action or
proceeding           shall be conclusive and may be enforced in other jurisdictions by
suit on the           judgment or in any other manner provided by law. Nothing in this
Agreement shall           affect any right that the Administrative Agent, the Issuing
Bank or any Lender           may otherwise have to bring any action or proceeding
relating to this Agreement           against the Borrowers or their respective properties
in the courts of any           jurisdiction.  

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

123 

        (d)                 Each
party to this Agreement irrevocably consents to service of process in the
          manner provided for notices in Section 9.01; provided that service of
          process may not be made by telecopy. Nothing in this Agreement will affect the
          right of any party to this Agreement to serve process in any other manner
          permitted by law.  

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

        SECTION
9.11.    Headings. Article and Section headings and the Table
of Contents used herein are for convenience of reference only, are not part of this
Agreement and shall not affect the construction of, or be taken into consideration in
interpreting, this Agreement.  

        SECTION
9.12.    Confidentiality. Each of the Administrative Agent,
the Issuing Bank and the Lenders agrees to maintain the confidentiality of the
Information (as defined below), except that Information may be disclosed (a) to its and
its Affiliates’ directors, officers, employees and agents, including accountants,
legal counsel and other advisors (it being understood that the Persons to whom such
disclosure is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential), (b) to the extent requested by any
regulatory authority, (c) to the extent required by applicable laws or regulations or by
any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in
connection with the exercise of any remedies hereunder or any suit, action or proceeding
relating to this Agreement or the enforcement of rights hereunder, (f) subject to an
agreement containing provisions substantially the same as those of this Section, to (i)
any assignee of or Participant in, or any prospective assignee of or Participant in, any
of its rights or obligations under this Agreement or (ii) any actual or prospective
counterparty (or its advisors) to any swap or derivative transaction relating to any of
the Borrowers and its obligations, (g) with the consent of the Borrower or (h) to the
extent such Information (i) becomes publicly available other than as a result of a breach
of this Section or (ii) becomes available to the Administrative Agent, the Issuing Bank
or any Lender on a nonconfidential basis from a source other than the Borrower. For the
purposes of this Section, “Information” means all information received
from the Borrower relating to the Borrower or its business, other than any such
information that is available to the Administrative Agent, the Issuing Bank or any Lender
on a nonconfidential basis prior to disclosure by the Borrower; provided that, in
the case of information received from the Borrower after the date hereof, such
information is or was clearly identified at the time of delivery as confidential. Any
Person required to maintain the confidentiality of Information as provided in this
Section shall be considered to have complied with its obligation to do so if such Person
has exercised the same degree of care to maintain the confidentiality of such Information
as such Person would accord to its own confidential information.  

124 

        EACH
LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.12 FURNISHED TO IT PURSUANT
TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND
ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED
COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT
WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND
APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. 

        ALL
INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER OR
THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT
WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION
ABOUT THE BORROWER AND ITS AFFILIATES, THE PARTIES AND THEIR RELATED PARTIES OR THEIR
RESPECTIVE SECURITIES) AND ITS SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO THE
BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE
QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL
NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW. 

        SECTION
9.13.    Interest Rate Limitation. Notwithstanding anything
herein to the contrary, if at any time the interest rate applicable to any Loan, together
with all fees, charges and other amounts which are treated as interest on such Loan under
applicable law (collectively the “Charges”), shall exceed the maximum
lawful rate (the “Maximum Rate”) which may be contracted for, charged,
taken, received or reserved by the Lender holding such Loan in accordance with applicable
law, the rate of interest payable in respect of such Loan hereunder, together with all
Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the
extent lawful, the interest and Charges that would have been payable in respect of such
Loan but were not payable as a result of the operation of this Section shall be cumulated
and the interest and Charges payable to such Lender in respect of other Loans or periods
shall be increased (but not above the Maximum Rate therefor) until such cumulated amount,
together with interest thereon at the Federal Funds Effective Rate to the date of
repayment, shall have been received by such Lender.  

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

        SECTION
9.15.    Conversion of Currencies. (a) If, for the purpose of
obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one
currency into another currency, each party hereto agrees, to the fullest extent that it
may effectively do so, that the rate of exchange used shall be that at which in
accordance with normal banking procedures in the relevant jurisdiction the first currency
could be purchased with such other currency on the Business Day immediately preceding the
day on which final judgment is given.  

125 

        (b)                 The
obligations of each Borrower in respect of any sum due to any party hereto           or
any holder of the obligations owing hereunder (the “Applicable           Creditor”)
shall, notwithstanding any judgment in a currency (the           “Judgment
Currency”) other than the currency in which such sum           is stated to be
due hereunder (the “Agreement Currency”), be           discharged only
to the extent that, on the Business Day following receipt by the           Applicable
Creditor of any sum adjudged to be so due in the Judgment Currency,           the
Applicable Creditor may in accordance with normal banking procedures in the
          relevant jurisdiction purchase the Agreement Currency with the Judgment
          Currency; if the amount of the Agreement Currency so purchased is less than the
          sum originally due to the Applicable Creditor in the Agreement Currency, the
          Borrower agrees, as a separate obligation and notwithstanding any such
judgment,           to indemnify the Applicable Creditor against such loss. The
obligations of the           Borrower contained in this Section 9.15 shall survive the
termination of this           Agreement and the payment of all other amounts owing
hereunder.  

        SECTION
9.16.    Syndication Agent and Documentation Agents. Any
syndication agent or documentation agents appointed with respect to this Agreement shall,
in their capacities as such, have no duties or responsibilities under this Agreement or
any other Credit Document. No syndication agent or documentation agent shall have or be
deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that
it has not relied, and will not rely, on any syndication agent or documentation agent in
deciding to enter into this Agreement or any other Credit Document or in taking or not
taking any action hereunder.  

ARTICLE X  

Collection Action
Mechanism 

        SECTION
10.01.    Implementation of CAM. (a)(i) On the CAM Exchange
Date, to the extent not otherwise prohibited by applicable law or otherwise, each Lender
shall immediately be deemed to have acquired (and shall promptly make payment therefor to
the Alternate Currency Fronting Lender or Swingline Lender in accordance with Section
2.04(g) or 2.05(c), as applicable) participations in the Alternate Currency Loans and
Swingline Loans in an amount equal to such Lender’s Applicable Revolver Percentage
of each Alternate Currency Loan and Swingline Loan outstanding on such date, (ii) on the
CAM Exchange Date, all Loans outstanding in any Foreign Currency (“Loans to be
Converted”) shall be converted into Dollars (calculated on the basis of the
relevant Exchange Rates as of the Business Day immediately preceding the CAM Exchange
Date) (“Converted Loans”), and (iii) on the CAM Exchange Date, to the
extent necessary to cause each Lender’s Applicable Revolver Percentage, Applicable
Term A Percentage, Applicable Term Y Percentage and Applicable Term X Percentage to be
equal for such Lender after giving effect to the purchase and sale of participating
interests under this clause, each Lender severally, unconditionally and irrevocably
agrees that it shall purchase or sell in Dollars a participating interest in the Loans
(including such Converted Loans) in an amount equal to its CAM Percentage of the
outstanding principal amount of the Loans (including Converted Loans). All Converted
Loans shall bear interest at the rate which would otherwise be applicable to ABR
Borrowings. Each Lender and each Borrower hereby consents and agrees to the CAM Exchange,
and each Lender agrees that the CAM Exchange shall be binding upon its successors and
assigns and any person that acquires a participation in its interests in any Loan. Each
Borrower agrees from time to time to execute and deliver to the Administrative Agent all
instruments and documents as the Administrative Agent shall reasonably request to
evidence and confirm the respective interests of the Lenders after giving effect to the
CAM Exchange.  

126 

        (b)                 If,
for any reason, the Loans to be Converted may not be converted into Dollars           in
the manner contemplated by paragraph (a) of this Section 10.01, (i) the
          Administrative Agent shall determine the Dollar Equivalent of the Loans to be
          Converted (calculated on the basis of the Exchange Rate as of the Business Day
          immediately preceding the date on which such conversion would otherwise occur
          pursuant to paragraph (a) of this Section 10.01) and (ii) effective on such CAM
          Exchange Date, each Lender severally, unconditionally and irrevocably agrees
          that it shall purchase in Dollars a participating interest in such Loans to be
          Converted in an amount equal to its CAM Percentage of such Loans to be
          Converted. Each Lender will immediately transfer to the Administrative Agent,
in           immediately available funds, the amount(s) of its participation(s) and the
          proceeds of such participation(s) shall be distributed by the Administrative
          Agent to each relevant Lender in the amount(s) provided for in the preceding
          sentence.  

        (c)                 To
the extent any Taxes are required to be withheld from any amounts payable by           a
Lender (the “First Lender”) to another Lender (the           “Other
Lender”) in connection with its participating interest           in any
Converted Loan, each Borrower, with respect to the relevant Loans made to           it,
shall be required to pay increased amounts to the Other Lender receiving           such
payments from the First Lender to the same extent they would be required           under
Section 2.18 if such Borrower were making payments with respect to the
          participating interest directly to the Other Lender.  

        (d)                 As
a result of the CAM Exchange, upon and after the CAM Exchange Date, each
          payment received by Administrative Agent or Collateral Agent pursuant to any
          Credit Document, and each distribution made by the Collateral Agent pursuant to
          any Security Document in respect of the Obligations, shall be distributed to
the           Lenders pro rata in accordance with their respective CAM Percentages. Any
direct           payment received by a Lender upon or after the CAM Exchange Date,
including by           way of setoff, in respect of an Obligation shall be paid over to
Administrative           Agent for distribution to the Lenders in accordance herewith.  

        SECTION
10.02.    Letters of Credit. (a) In the event that on the CAM
Exchange Date any Letter of Credit shall be outstanding and undrawn in whole or in part,
or any amount drawn under a Letter of Credit shall not have been reimbursed either by the
Borrowers or with the proceeds of a Revolving Loan, each Lender shall promptly pay over
to the Administrative Agent, in immediately available funds in the same currency as such
Letter of Credit, as the case may be, in the case of any undrawn amount, and in Dollars,
in the case of any unreimbursed amount, an amount equal to such Lender’s Applicable
Revolver Percentage (before giving effect to the CAM Exchange) of such undrawn face
amount or (to the extent it has not already done so) such unreimbursed drawing, as the
case may be, together with interest thereon from the CAM Exchange Date to the date on
which such amount shall be paid to Administrative Agent at the rate that would be
applicable at the time to an ABR Borrowing, in a principal amount equal to such amount.
The Administrative Agent shall establish a separate interest bearing account or accounts
for each Lender (each, an “LC Reserve Account”) for the amounts received
with respect to each such Letter of Credit pursuant to the preceding sentence. The
Administrative Agent shall deposit in each Lender’s LC Reserve Account such Lender’s
CAM Percentage of the amounts received from the Lenders as provided above. The
Administrative Agent shall have sole dominion and control over each LC Reserve Account,
and the amounts deposited in each LC Reserve Account shall be held in such LC Reserve
Account until withdrawn as provided in paragraph (b), (c), (d) or (e) below.
The Administrative Agent shall maintain records enabling it to determine the amounts paid
over to it and deposited in the LC Reserve Accounts in respect of each Letter of Credit
and the amounts on deposit in respect of each Letter of Credit attributable to each Lender’s
CAM Percentage. The amounts held in each Lender’s LC Reserve Account shall be held
as a reserve against the Letters of Credit, shall be the property of such Lender, shall
not constitute Loans to or give rise to any claim of or against any Credit Party and
shall not give rise to any obligation on the part of any Borrower to pay interest to such
Lender, it being agreed that the reimbursement obligations in respect of Letters of
Credit shall arise only at such times as drawings are made thereunder, as provided in
Section 2.06.  

127 

        (b)                 In
the event that after the CAM Exchange Date any drawing shall be made in           respect
of a Letter of Credit, the Administrative Agent shall, at the request of           the
Issuing Bank, withdraw from the LC Reserve Account of each Lender any           amounts,
up to the amount of such Lender’s CAM Percentage of such drawing,
          deposited in respect of such Letter of Credit and remaining on deposit and
          deliver such amounts to the Issuing Bank in satisfaction of the reimbursement
          obligations of the applicable Lenders under Section 2.06(e). In the event any
          Lender shall default on its obligation to pay over any amount to the
          Administrative Agent in respect of any Letter of Credit as provided in this
          Section 10.02, the Issuing Bank shall, in the event of a drawing thereunder,
          have a claim against such Lender to the same extent as if such Lender had
          defaulted on its obligations under Section 2.06(e), but shall have no claim
          against any other Lender in respect of such defaulted amount, notwithstanding
          the exchange of interests in Borrowers’ reimbursement obligations pursuant
          to Section 10.01. Each other Lender shall have a claim against such defaulting
          Lender for any damages sustained by it as a result of such default, including,
          in the event such Letter of Credit shall expire undrawn, its CAM Percentage of
          the defaulted amount.  

        (c)                 In
the event that after the CAM Exchange Date any Letter of Credit shall expire
          undrawn, the Administrative Agent shall withdraw from the LC Reserve Account of
          each Lender the amount remaining on deposit therein in respect of such Letter
of           Credit and distribute such amount to such Lender.  

        (d)                 With
the prior written approval of the Administrative Agent and Issuing Bank           (not to
be unreasonably withheld), any Lender may withdraw the amount held in           its LC
Reserve Account in respect of the undrawn amount of any Letter of Credit.           Any
Lender making such a withdrawal shall be unconditionally obligated, in the
          event there shall subsequently be a drawing under such Letter of Credit, to pay
          over to Administrative Agent, for the account of the Issuing Bank, on demand,
          its CAM Percentage of such drawing.  

128 

        (e)                 Pending
the withdrawal by any Lender of any amounts from its LC Reserve Account           as
contemplated by the above paragraphs, the Administrative Agent will, at the
          direction of such Lender and subject to such rules as the Administrative Agent
          may prescribe for the avoidance of inconvenience, invest such amounts in Cash
          Equivalents. Each Lender which has not withdrawn its CAM Percentage of amounts
          in its LC Reserve Account as provided in paragraph (d) above shall have
          the right, at intervals reasonably specified by any Administrative Agent, to
          withdraw the earnings on investments so made by such Administrative Agent with
          amounts in its LC Reserve Account and to retain such earnings for its own
          account.  

129 

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

		THE MANITOWOC COMPANY, INC.
	

 	By /s/ Maurice D. Jones
		Name: Maurice D. Jones
		Title: Senior Vice President,
		             General Counsel & Secretary
	

 	MANITOWOC EMEA HOLDING SARL
	

 	By /s/ Maurice D. Jones
		Name: Maurice D. Jones
		Title: 
	

 	MANITOWOC HOLDING ASIA SAS
	

 	By /s/ Glen Tellock
		Name: Glen Tellock
		Title:

[Signature Page to
Credit Agreement] 

		JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent
	

 	By /s/ Michael B. Kelly
		Name: Michael B. Kelly
		Title: Vice President

[Signature Page to
Credit Agreement] 

		DEUTSCHE BANK AG NEW YORK BRANCH
	

 	By /s/ Albert Fischetti
		Name: Albert Fischetti
		Title: Director
	

 	By /s/ David Mayhew
		Name: David Mayhew
		Title: Managing Director

[Signature Page to
Credit Agreement] 

		MORGAN STANLEY SENIOR FUNDING, INC.
	

 	By /s/ Jonathan Tunis
		Name: Jonathan Tunis
		Title: Vice President

[Signature Page to
Credit Agreement] 

		BNP PARIBAS
	

 	By /s/ Jordan Schweon
		Name: Jordan Schweon
		Title: Managing Director
          Loan & High Yield Capital Markets
	

 	By /s/ John D. Emery
		Name: John D. Emery
		Title: Director
          Loan and High Yield Capital Markets

[Signature Page to
Credit Agreement]

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