Document:

Exhibit 10.11.5

Exhibit 10.11.5

Execution Version

CUSIP Number: 723485AE8

U.S. $200,000,000

THREE-YEAR CREDIT AGREEMENT

Dated as of February 12, 2010

among

PINNACLE WEST CAPITAL CORPORATION,

as Borrower,

THE LENDERS PARTY HERETO,

BANK OF AMERICA, N.A.,

as Agent and Issuing Bank,

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Co-Syndication Agent and Issuing Bank,

BARCLAYS CAPITAL

and

CREDIT SUISSE, CAYMAN ISLANDS BRANCH,

as Co-Syndication Agents,

BANC OF AMERICA SECURITIES LLC,

WELLS FARGO SECURITIES, LLC,

BARCLAYS CAPITAL

and

CREDIT SUISSE SECURITIES (USA) LLC

as Joint Lead Arrangers

and

BANC OF AMERICA SECURITIES LLC,

and

WELLS FARGO SECURITIES, LLC,

as Joint Book Runners

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE I

	 
	 	 	 	 
	DEFINITIONS AND ACCOUNTING TERMS

	 
	 	 	 	 
	Section 1.01 Certain Defined Terms
	 	 	1	 
	Section 1.02 Other Interpretive Provisions
	 	 	15	 
	Section 1.03 Accounting Terms
	 	 	16	 
	Section 1.04 Rounding
	 	 	16	 
	Section 1.05 Times of Day
	 	 	16	 
	 
	 	 	 	 
	ARTICLE II

	 
	 	 	 	 
	AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT

	 
	 	 	 	 
	Section 2.01 The Advances and Letters of Credit
	 	 	16	 
	Section 2.02 Making the Advances
	 	 	17	 
	Section 2.03 Letters of Credit
	 	 	18	 
	Section 2.04 Fees
	 	 	26	 
	Section 2.05 Optional Termination or Reduction of the Commitments
	 	 	27	 
	Section 2.06 Repayment of Advances
	 	 	28	 
	Section 2.07 Interest on Advances
	 	 	28	 
	Section 2.08 Interest Rate Determination
	 	 	29	 
	Section 2.09 Optional Conversion of Advances
	 	 	30	 
	Section 2.10 Prepayments of Advances
	 	 	30	 
	Section 2.11 Increased Costs
	 	 	31	 
	Section 2.12 Illegality
	 	 	33	 
	Section 2.13 Payments and Computations
	 	 	33	 
	Section 2.14 Taxes
	 	 	34	 
	Section 2.15 Sharing of Payments, Etc.
	 	 	38	 
	Section 2.16 Evidence of Debt
	 	 	39	 
	Section 2.17 Use of Proceeds
	 	 	39	 
	Section 2.18 Increase in the Aggregate Revolving Credit Commitments
	 	 	39	 
	Section 2.19 Affected Lenders
	 	 	41	 
	Section 2.20 Replacement of Lenders
	 	 	42	 
	 
	 	 	 	 
	ARTICLE III

	 
	 	 	 	 
	CONDITIONS PRECEDENT

	 
	 	 	 	 
	Section 3.01 Conditions Precedent to Effectiveness
	 	 	43	 
	Section 3.02 Conditions Precedent to Each Credit Extension and Commitment Increase
	 	 	44	 
	Section 3.03 Determinations Under Section 3.01
	 	 	45	 

 

 

 

	 	 	 	 	 
	ARTICLE IV

	 
	 	 	 	 
	REPRESENTATIONS AND WARRANTIES

	 
	 	 	 	 
	Section 4.01 Representations and Warranties of the Borrower
	 	 	45	 
	 
	 	 	 	 
	ARTICLE V

	 
	 	 	 	 
	COVENANTS OF THE BORROWER

	 
	 	 	 	 
	Section 5.01 Affirmative Covenants
	 	 	48	 
	Section 5.02 Negative Covenants
	 	 	51	 
	Section 5.03 Financial Covenant
	 	 	52	 
	 
	 	 	 	 
	ARTICLE VI

	 
	 	 	 	 
	EVENTS OF DEFAULT

	 
	 	 	 	 
	Section 6.01 Events of Default
	 	 	53	 
	Section 6.02 Actions in Respect of Letters of Credit upon Default
	 	 	55	 
	 
	 	 	 	 
	ARTICLE VII

	 
	 	 	 	 
	THE AGENT

	 
	 	 	 	 
	Section 7.01 Appointment and Authority
	 	 	56	 
	Section 7.02 Rights as a Lender
	 	 	56	 
	Section 7.03 Exculpatory Provisions
	 	 	56	 
	Section 7.04 Reliance by Agent
	 	 	57	 
	Section 7.05 Delegation of Duties
	 	 	57	 
	Section 7.06 Resignation of Agent
	 	 	57	 
	Section 7.07 Non-Reliance on Agent and Other Lenders
	 	 	58	 
	Section 7.08 No Other Duties, Etc.
	 	 	58	 
	Section 7.09 Issuing Banks
	 	 	58	 
	 
	 	 	 	 
	ARTICLE VIII

	 
	 	 	 	 
	MISCELLANEOUS

	 
	 	 	 	 
	Section 8.01 Amendments, Etc.
	 	 	59	 
	Section 8.02 Notices, Etc.
	 	 	59	 
	Section 8.03 No Waiver; Cumulative Remedies; Enforcement
	 	 	61	 
	Section 8.04 Costs and Expenses; Indemnity; Damage Waiver
	 	 	62	 
	Section 8.05 Right of Set-off
	 	 	64	 
	Section 8.06 Binding Effect
	 	 	64	 
	Section 8.07 Successors and Assigns
	 	 	64	 
	Section 8.08 Confidentiality
	 	 	68	 
	Section 8.09 Governing Law
	 	 	69	 

 

 

 

	 	 	 	 	 
	Section 8.10 Counterparts; Integration; Effectiveness
	 	 	69	 
	Section 8.11 Jurisdiction, Etc.
	 	 	69	 
	Section 8.12 Payments Set Aside
	 	 	69	 
	Section 8.13 Patriot Act
	 	 	70	 
	Section 8.14 Waiver of Jury Trial
	 	 	70	 
	Section 8.15 No Advisory or Fiduciary Responsibility
	 	 	70	 
	Section 8.16 Survival of Representations and Warranties
	 	 	71	 
	Section 8.17 Severability
	 	 	71	 

Schedules

Schedule 1.01 Commitments and Ratable Shares

Schedule 4.01(j) Subsidiaries

Schedule 4.01(k) Existing Indebtedness

Schedule 8.02 Certain Address for Notices

Exhibits

Exhibit A Form of Note

Exhibit B Form of Notice of Borrowing

Exhibit C Form of Assignment and Assumption

 

 

 

THREE-YEAR CREDIT AGREEMENT

Dated as of February 12, 2010

PINNACLE WEST CAPITAL CORPORATION, an Arizona corporation (the “Borrower”), the banks,
financial institutions and other institutional lenders (the “Initial Lenders”) and initial
issuing banks (the “Initial Issuing Banks”) listed on the signature pages hereof, Banc of
America Securities LLC, Wells Fargo Securities, LLC, Barclays Capital, the investment banking
division of Barclays Bank PLC, and Credit Suisse Securities (USA) LLC, as Joint Lead Arrangers (the
“Arrangers”), Wells Fargo Bank, National Association, Barclays Capital, the investment
banking division of Barclays Bank PLC and Credit Suisse Securities (USA) LLC, as Co-Syndication
Agents and BANK OF AMERICA, N.A., as Agent for the Lenders (as hereinafter defined), agree as
follows:

The Borrower has requested that the Lenders provide a revolving credit facility for the
purposes set forth herein, and the Lenders are willing to do so on the terms and conditions set
forth herein.

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

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

Section 1.01 Certain Defined Terms. As used in this Agreement, the following terms
shall have the following meanings:

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

“Advance” means an advance by a Lender to the Borrower as part of a Borrowing, including a
Base Rate Advance made pursuant to Section 2.03(c), but excluding any L/C Advance made as part of
an L/C Borrowing, and refers to a Base Rate Advance or a Eurodollar Rate Advance (each of which
shall be a “Type” of Advance).

“Affected Lender” means any Lender, as reasonably determined by the Agent or if the
Agent is the Affected Lender, by the Required Lenders, that (a) has defaulted in its obligation to
fund any Advance or any of its other funding obligations under this Agreement, (b) has notified the
Borrower, the Agent, any Issuing Bank or any Lender in writing of its intention not to fund any
Advance or any of its other funding obligations under this Agreement, (c) has otherwise failed to
pay over to the Agent or any other Lender any other amount required to be paid by it hereunder
within three Business Days of the date when due, unless the subject of a good faith dispute, (d)
has failed, within three Business Days after written request by the Agent, or if the Agent is the
Affected Lender, by the Required Lenders, to confirm that it will comply with the terms of this
Agreement relating to its obligations to fund prospective Advances or (e) shall (or whose parent
company shall) generally not pay its debts as such debts become due, or shall

 

1

 

admit in writing its inability to pay its debts generally, or shall make a general assignment
for the benefit of creditors; or shall have had any proceeding instituted by or against such Lender
(or its parent company) seeking to adjudicate it as bankrupt or insolvent, or seeking liquidation,
winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or
its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors,
or seeking the entry of an order for relief or the appointment of a receiver, trustee,
administrator, assignee for the benefit of creditors or similar Person charged with reorganization
or liquidation of its business or custodian for it or for any substantial part of its property and,
in the case of any such proceeding instituted against it (but not instituted by it), either such
proceeding shall remain undismissed or unstayed for a period of 30 days, or any of the actions
sought in such proceeding (including, without limitation, the entry of an order for relief against,
or the appointment of a receiver, trustee, administrator, assignee for the benefit of creditors or
similar Person charged with reorganization or liquidation of its business or custodian for, it or
for any substantial part of its property) shall occur, or shall take (or whose parent company shall
take) any corporate action to authorize any of the actions set forth above in this subsection (e),
provided that a Lender shall not be deemed to be an Affected Lender solely by virtue of the
ownership or acquisition of any equity interest in any Lender or any Person that directly or
indirectly controls such Lender by a Governmental Authority or an instrumentality thereof.

“Affiliate” means, as to any Person, any other Person that, directly or indirectly,
controls, is controlled by or is under common control with such Person or is a director or officer
of such Person. For purposes of this definition, the term “control” (including the terms
“controlling”, “controlled by” and “under common control with”) of a Person means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of
such Person, whether through the ownership of Voting Stock, by contract or otherwise.

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

“Agent’s Account” means the account of the Agent designated on Schedule 8.02 under the
heading “Agent’s Account” or such other account as the Agent may designate to the Lenders and the
Borrower from time to time.

“Agent’s Office” means the Agent’s address and, as appropriate, the Agent’s Account,
or such other address or account as the Agent may from time to time notify to the Borrower and the
Lenders.

“Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic
Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar Lending Office in
the case of a Eurodollar Rate Advance.

 

2

 

“Applicable Rate” means, from time to time, the following percentages per annum
determined by reference to the Public Debt Rating as set forth below:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Public Debt Rating	 	 	 	 	 	Eurodollar Rate	 	 	 	 
	S&P/Moody’s	 	Base Rate Advances	 	 	Advances	 	 	Commitment Fee	 
	Level 1

≥ BBB+/Baa1
	 	 	1.500	%	 	 	2.500	%	 	 	0.375	%
	Level 2

< Level 1 but ≥
BBB/Baa2
	 	 	1.750	%	 	 	2.750	%	 	 	0.500	%
	Level 3

< Level 2 but ≥
BBB-/Baa3
	 	 	2.000	%	 	 	3.000	%	 	 	0.625	%
	Level 4

< Level 3 but ≥
BB+/Ba1
	 	 	2.500	%	 	 	3.500	%	 	 	0.750	%
	Level 5

< Level 4
	 	 	3.000	%	 	 	4.000	%	 	 	1.000	%

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

“APS” means Arizona Public Service Company, an Arizona corporation.

“Arrangers” has the meaning given to such term in the introductory paragraph hereof.

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

“Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of
Exhibit C hereto.

“Assuming Lender” has the meaning specified in Section 2.18(d).

“Assumption Agreement” has the meaning specified in Section 2.18(d)(ii).

“Authorized Officer” means the chairman of the board, chief executive officer, chief
operating officer, chief financial officer, chief accounting officer, president, any vice
president, treasurer, controller or any assistant treasurer of the Borrower.

“Available Amount” of any Letter of Credit means, at any time, the maximum amount
available to be drawn under such Letter of Credit at such time (assuming compliance at such time
with all conditions to drawing).

“Bank of America” means Bank of America, N.A.

 

3

 

“Base Rate” means for any day a fluctuating rate per annum equal to the highest of:

(a) the rate of interest in effect for such day as publicly announced from time to time
by the Agent as its “prime rate”;

(b) the Federal Funds Rate plus 0.50%; and

(c) an amount equal to (i) the Eurodollar Rate for a one month Interest Period on such
day (or if such day is not a Business Day, the immediately preceding Business Day) plus (ii)
1%.

“Prime rate” means the rate of interest in effect for such day as publicly announced
from time to time by the Agent as its “prime rate.” The “prime rate” is a rate set by the
Agent based upon various factors including the Agent’s costs and desired return, general
economic conditions and other factors, and is used as a reference point for pricing some
loans, which may be priced at, above, or below such announced rate. Any change in the
“prime rate” announced by the Agent shall take effect at the opening of business on the day
specified in the public announcement of such change.

“Base Rate Advance” means an Advance that bears interest as provided in Section
2.07(a)(i).

“Borrower” has the meaning given to such term in the introductory paragraph hereof.

“Borrower Information” has the meaning specified in Section 8.08.

“Borrowing” means a borrowing consisting of simultaneous Advances of the same Type
made by each of the Lenders pursuant to Section 2.01(a).

“Business Day” means a day of the year on which banks are not required or authorized
by Law to close in New York City, Phoenix, Arizona or Charlotte, North Carolina and, if the
applicable Business Day relates to any Advance in which interest is calculated by reference to the
Eurodollar Rate, on which dealings are carried on in the London interbank market.

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

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

 

4

 

“Commitment” means a Revolving Credit Commitment or a Letter of Credit Commitment.

“Commitment Date” has the meaning specified in Section 2.18(b).

“Commitment Increase” has the meaning specified in Section 2.18(a).

“Consolidated” refers to the consolidation of accounts in accordance with GAAP.

“Consolidated Indebtedness” means, at any date, the Indebtedness of the Borrower and
its Consolidated Subsidiaries determined on a Consolidated basis as of such date.

“Consolidated Net Worth” means, at any date, the sum as of such date of (a) the par
value (or value stated on the books of the Borrower) of all classes of capital stock of the
Borrower and its Subsidiaries, excluding the Borrower’s capital stock owned by the Borrower and/or
its Subsidiaries, plus (or minus in the case of a surplus deficit) (b) the amount of the
Consolidated surplus, whether capital or earned, of the Borrower, determined in accordance with
GAAP as of the end of the most recent calendar month (excluding the effect on the Borrower’s
accumulated other comprehensive income/loss of the ongoing application of Accounting Standards
Codification Topic 815).

“Consolidated Subsidiary” means, at any date, any Subsidiary or other entity the
accounts of which would be consolidated with those of the Borrower on its Consolidated financial
statements if such financial statements were prepared as of such date.

“Convert”, “Conversion” and “Converted” each refers to a conversion of
Advances of one Type into Advances of the other Type pursuant to Section 2.08, Section 2.09 or
Section 2.12.

“Credit Extension” means each of the following: (a) a Borrowing and (b) the issuance
of a Letter of Credit.

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

“Default” means any Event of Default or any event that would constitute an Event of
Default but for the requirement that notice be given or time elapse or both.

“Dollars” or “$” means dollars of the United States of America.

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

“Effective Date” has the meaning specified in Section 3.01.

 

5

 

“Eligible Assignee” means any Person that meets the requirements to be an assignee
under Section 8.07(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required
under Section 8.07(b)(iii)).

“Environmental Action” means any action, suit, demand, demand letter, claim, notice of
non-compliance or violation, notice of liability or potential liability, investigation, proceeding,
consent order or consent agreement relating in any way to any Environmental Law, Environmental
Permit or Hazardous Materials or arising from alleged injury or threat of injury to health, safety
or the environment and relating to any Environmental Law, including, without limitation, (a) by any
Governmental Authority for enforcement, cleanup, removal, response, remedial or other actions or
damages and (b) by any Governmental Authority or any third party for damages, contribution,
indemnification, cost recovery, compensation or injunctive relief.

“Environmental Law” means any federal, state, local or foreign statute, law,
ordinance, rule, regulation, code, order, judgment, decree or judicial or agency interpretation,
policy or guidance relating to pollution or protection of the environment, natural resources or, to
the extent relating to exposure to Hazardous Materials, human health or safety, including, without
limitation, those relating to the use, handling, transportation, treatment, storage, disposal,
release or discharge of Hazardous Materials.

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

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

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

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by the Borrower or any ERISA Affiliate from a Pension Plan subject to Section 4063 of
ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2)
of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e)
of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a
Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing
of a notice of intent to terminate, the treatment of a Plan amendment as a termination under
Section 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a
Pension Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds under
Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any
Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA,
other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower
or any ERISA Affiliate.

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

 

6

 

“Eurodollar Rate” means:

(a) for any Interest Period with respect to a Eurodollar Rate Advance, the rate per annum
equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters
(or other commercially available source providing quotations of BBA LIBOR as designated by the
Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such
Interest Period) with a term equivalent to such Interest Period. If such rate is not available at
such time for any reason, then the “Eurodollar Rate” for such Interest Period shall be the rate per
annum determined by the Agent to be the rate at which deposits in dollars for delivery on the first
day of such Interest Period in same day funds in the approximate amount of the Eurodollar Rate
Advance being made, continued or converted by the Agent and with a term equivalent to such Interest
Period would be offered by the Agent to major banks in the London interbank eurodollar market at
their request at approximately 11:00 a.m. (London time) two Business Days prior to the commencement
of such Interest Period; and

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

“Eurodollar Rate Advance” means an Advance that bears interest at a rate based on the
Eurodollar Rate (other than a Base Rate Advance bearing interest at a rate based on the Eurodollar
Rate).

“Events of Default” has the meaning specified in Section 6.01.

“Excluded Taxes” means, with respect to the Agent, any Lender, any Issuing Bank or any
other recipient of any payment to be made by or on account of any obligation of the Borrower
hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and
franchise taxes imposed on it (in lieu of net income taxes), by the United States or the
jurisdiction (or any political subdivision thereof) under the Laws of which such recipient is
organized or does business or in which its principal office is located or, in the case of any
Lender, in which its Applicable Lending Office is located, (b) any branch profits taxes imposed by
the United States or any similar tax imposed by any other jurisdiction in which the Borrower is
located, (c) any backup withholding tax that is required by the Internal Revenue Code to be
withheld from amounts payable to a Lender that has failed to comply with clause (A) of Section
2.14(e)(ii), and (d) in the case of a Foreign Lender (other than as agreed to between any assignee
and the Borrower pursuant to a request by the Borrower under Section 2.20), any United States
withholding tax that (i) is required to be imposed on amounts payable to such Foreign Lender

 

7

 

pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or
designates a new Applicable Lending Office) or (ii) is attributable to such Foreign Lender’s
failure or inability (other than as a result of a Change in Law) to comply with clause (B) of
Section 2.14(e)(ii), except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new Applicable Lending Office (or assignment), to receive
additional amounts from the Borrower with respect to such withholding tax pursuant to Section
2.14(a)(i) or (ii).

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

“Fee Letters” means (a) each of the following letters to the Borrower dated December
24, 2009: (i) the letter from Bank of America, Banc of America Securities LLC, Wells Fargo Bank,
National Association and Wells Fargo Securities, LLC, (ii) the letter from Credit Suisse AG, Cayman
Islands Branch and Credit Suisse Securities (USA) LLC, and (iii) the letter from Barclays Bank PLC,
each relating to certain fees payable by the Borrower to such parties in respect of the
transactions contemplated by this Agreement and (b) any letter between the Borrower and any Issuing
Bank other than an Initial Issuing Bank relating to certain fees payable to such Issuing Bank in
its capacity as such, each as amended, modified, restated or supplemented from time to time.

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

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

“GAAP” has the meaning specified in Section 1.03.

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

 

8

 

“Guarantee” means as to any Person, any obligation, contingent or otherwise, of such
Person directly or indirectly guaranteeing any Indebtedness of any other Person or in any manner
providing for the payment of any Indebtedness of any other Person or otherwise protecting the
holder of such Indebtedness against loss (whether by virtue of partnership arrangements, agreements
to keep well, to purchase assets, goods, securities or services, or to take-or-pay or otherwise),
provided that the term “Guarantee” shall not include endorsements for collection or deposit
in the ordinary course of business. The term “Guarantee” used as a verb has a
corresponding meaning.

“Hazardous Materials” means (a) petroleum and petroleum products, byproducts or
breakdown products, radioactive materials, asbestos-containing materials, polychlorinated biphenyls
and radon gas and (b) any other chemicals, materials or substances designated, classified or
regulated as hazardous or toxic or as a pollutant or contaminant under any Environmental Law.

“Hedge Agreement” means any interest rate swap, cap or collar agreement, interest rate
future or option contract, currency swap agreement, currency future or option contract, commodity
future or option contract, commodity forward contract or other similar agreement.

“Increase Date” has the meaning specified in Section 2.18(a).

“Increasing Lender” has the meaning specified in Section 2.18(b).

“Indebtedness” means as to any Person at any date (without duplication): (a)
indebtedness created, issued, incurred or assumed by such Person for borrowed money or evidenced by
bonds, debentures, notes or similar instruments; (b) all obligations of such Person to pay the
deferred purchase price of property or services, excluding, however, trade accounts payable (other
than for borrowed money) arising in, and accrued expenses incurred in, the ordinary course of
business of such Person so long as such trade accounts payable are paid within 180 days of the date
incurred; (c) all Indebtedness secured by a lien on any asset of such Person, to the extent such
Indebtedness has been assumed by, or is a recourse obligation of, such Person; (d) all Guarantees
by such Person; (e) all Capital Lease Obligations of such Person; and (f) the amount of all
reimbursement obligations of such Person (whether contingent or otherwise) in respect of letters of
credit, bankers’ acceptances, surety or other bonds and similar instruments in support of
Indebtedness.

“Indemnified Taxes” means Taxes other than Excluded Taxes.

“Initial Issuing Banks” has the meaning given to such term in the introductory
paragraph hereof.

“Initial Lenders” has the meaning given to such term in the introductory paragraph
hereof.

“Interest Period” means, for each Eurodollar Rate Advance comprising part of the same
Borrowing, the period commencing on the date such Eurodollar Rate Advance is disbursed or the date
of the Conversion of any Base Rate Advance into such Eurodollar Rate Advance and ending on the last
day of the period selected by the Borrower pursuant to the provisions below and,

 

9

 

thereafter, each subsequent period commencing on the last day of the immediately preceding
Interest Period and ending on the last day of the period selected by the Borrower pursuant to the
provisions below. The duration of each such Interest Period shall be one, two, three or six
months, as the Borrower may, upon notice received by the Agent not later than 12:00 noon on the
third Business Day prior to the first day of such Interest Period, select; provided,
however, that:

(a) the Borrower may not select any Interest Period that ends after the Termination
Date;

(b) Interest Periods commencing on the same date for Eurodollar Rate Advances
comprising part of the same Borrowing shall be of the same duration;

(c) whenever the last day of any Interest Period would otherwise occur on a day other
than a Business Day, the last day of such Interest Period shall be extended to occur on the
next succeeding Business Day, provided, however, that, if such extension
would cause the last day of such Interest Period to occur in the next following calendar
month, the last day of such Interest Period shall occur on the next preceding Business Day;
and

(d) whenever the first day of any Interest Period occurs on a day of an initial
calendar month for which there is no numerically corresponding day in the calendar month
that succeeds such initial calendar month by the number of months equal to the number of
months in such Interest Period, such Interest Period shall end on the last Business Day of
such succeeding calendar month.

“Internal Revenue Code” means the Internal Revenue Code of 1986, as amended from time
to time, and the regulations promulgated and rulings issued thereunder.

“IRS” means the United States Internal Revenue Service.

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

“Issuing Bank” means the Initial Issuing Banks or any other Lender approved by the
Borrower that may agree to issue Letters of Credit pursuant to an Assignment and Assumption or
other agreement in form satisfactory to the Borrower and the Agent, so long as such Lender
expressly agrees to perform in accordance with their terms all of the obligations that by the terms
of this Agreement are required to be performed by it as an Issuing Bank and notifies the Agent of
its Applicable Lending Office (which information shall be recorded by the Agent in the Register),
for so long as such Initial Issuing Bank or Lender, as the case may be, shall have a Letter of
Credit Commitment.

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

 

10

 

“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter
of Credit which has not been reimbursed on the date when made nor refinanced as a Base Rate
Advance.

“L/C Cash Deposit Account” means an interest bearing cash deposit account to be
established and maintained by the Agent, over which the Agent shall have sole dominion and control,
upon terms as may be satisfactory to the Agent.

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

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

“Laws” means, collectively, all international, foreign, Federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or
judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, licenses, authorizations and permits of, and
agreements with, any Governmental Authority.

“Lenders” means the Initial Lenders, each Issuing Bank, each Assuming Lender that
shall become a party hereto pursuant to Section 2.18 and each Person that shall become a party
hereto pursuant to Section 8.07.

“Letter of Credit” has the meaning specified in Section 2.01(b).

“Letter of Credit Application” means an application and agreement for the issuance or
amendment of a Letter of Credit in the form from time to time in use by any Issuing Bank.

“Letter of Credit Commitment” means, with respect to each Issuing Bank, the obligation
of such Issuing Bank to issue Letters of Credit for the account of the Borrower from time to time
in an aggregate amount equal to (a) for each of the Initial Issuing Banks, $100,000,000 and (b) for
any other Issuing Bank, as separately agreed to by such Issuing Bank and the Borrower. The Letter
of Credit Commitment is part of, and not in addition to, the Revolving Credit Commitments.

“Letter of Credit Expiration Date” means the day that is five Business Days prior to
the Termination Date.

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or otherwise), charge or other security interest or preferential
arrangement that has the practical effect of creating a security interest, including, without

 

11

 

limitation, the lien or retained security title of a conditional vendor and any easement,
right of way or other encumbrance on title to real property, and any Capital Lease having
substantially the same economic effect as any of the foregoing.

“Loan Documents” mean this Agreement, each Note, each L/C Related Document and the Fee
Letters.

“Material Adverse Effect” means a material adverse effect on (a) the financial
condition or financial prospects of the Borrower and its Subsidiaries (excluding SunCor Development
Company and its Subsidiaries) taken as a whole, (b) the rights and remedies of the Agent or any
Lender under this Agreement or any Note or (c) the ability of the Borrower to perform its
obligations under this Agreement or any Note.

“Material Subsidiary” means APS and, at any time, each other Subsidiary of the
Borrower (excluding SunCor Development Company and its Subsidiaries) which as of such time meets
the definition of a “significant subsidiary” in Regulation S-X of the Securities and Exchange
Commission or whose assets at such time exceed 10% of the assets of the Borrower and the
Subsidiaries (on a consolidated basis).

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

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

“Note” means a promissory note of the Borrower payable to the order of any Lender,
delivered pursuant to a request made under Section 2.16 in substantially the form of Exhibit
A hereto.

“Notice of Borrowing” has the meaning specified in Section 2.02(a).

“Obligations” means all advances to, and debts, liabilities, obligations, covenants
and duties of, the Borrower arising under any Loan Document or otherwise with respect to any
Advance or Letter of Credit, whether direct or indirect (including those acquired by assumption),
absolute or contingent, due or to become due, now existing or hereafter arising and including
interest and fees that accrue under any Loan Document after the commencement by or against the
Borrower of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such
proceeding, regardless of whether such interest and fees are allowed claims in such proceeding.

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

“PBGC” means the Pension Benefit Guaranty Corporation.

 

12

 

“Pension Plan” means any “employee pension benefit plan” (as such term is defined in
Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and
is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any
ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple
employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time
during the immediately preceding five plan years.

“Person” means an individual, partnership, corporation (including a business trust),
joint stock company, trust, unincorporated association, joint venture, limited liability company or
other entity, or a government or any political subdivision or agency thereof.

“Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of
ERISA) established by the Borrower or, with respect to any such plan that is subject to Section 412
of the Internal Revenue Code or Title IV of ERISA, any ERISA Affiliate.

“Public Debt Rating” means, as of any date, the rating that has been most recently
announced by either S&P or Moody’s, as the case may be, for any class of non-credit enhanced
long-term senior unsecured debt issued by the Borrower or, if any such rating agency shall have
issued more than one such rating, the lowest such rating issued by such rating agency. For
purposes of the foregoing, (a) if only one of S&P and Moody’s shall have in effect a Public Debt
Rating, the Applicable Rate shall be determined by reference to the available rating; (b) if
neither S&P nor Moody’s shall have in effect a Public Debt Rating, the Applicable Rate will be set
in accordance with Level 5 under the definition of “Applicable Rate”; (c) if the ratings
established by S&P and Moody’s shall fall within different levels, the Applicable Rate shall be
based upon the higher rating unless such ratings differ by two or more levels, in which case the
applicable level will be deemed to be one level below the higher of such levels; (d) if any rating
established by S&P or Moody’s shall be changed (other than as a result of a change in the basis on
which ratings are established), such change shall be effective as of the date on which such change
is first announced publicly by the rating agency making such change; and (e) if S&P or Moody’s
shall change the basis on which ratings are established, each reference to the Public Debt Rating
announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P
or Moody’s, as the case may be.

“Ratable Share” of any amount means, with respect to any Lender at any time but
subject to the provisions of Section 2.19, the product of such amount times a fraction the
numerator of which is the amount of such Lender’s Revolving Credit Commitment at such time (or, if
the Revolving Credit Commitments shall have been terminated pursuant to Section 2.05 or 6.01, such
Lender’s Revolving Credit Commitment as in effect immediately prior to such termination) and the
denominator of which is the aggregate amount of all Revolving Credit Commitments at such time (or,
if the Revolving Credit Commitments shall have been terminated pursuant to Section 2.05 or 6.01,
the aggregate amount of all Revolving Credit Commitments as in effect immediately prior to such
termination).

“Register” has the meaning specified in Section 8.07(c).

 

13

 

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

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than events for which the 30 day notice period has been waived under the final regulations
issued under Section 4043, as in effect as of the date of this Agreement (the “Section 4043
Regulations”). Any changes made to the Section 4043 Regulations that become effective after the
Effective Date shall have no impact on the definition of Reportable Event as used herein unless
otherwise amended by the Borrower and the Required Lenders.

“Required Lenders” means, at any time, but subject to Section 2.19, Lenders holding in
the aggregate more than 50% of (a) the Revolving Credit Commitments or (b) if the Revolving Credit
Commitments have been terminated, the Total Outstandings.

“Revolving Credit Commitment” means, as to any Lender, its obligation to (a) make
Advances to the Borrower pursuant to Section 2.01 and 2.03(c), and (b) purchase participations in
L/C Obligations, in an aggregate principal amount at any one time outstanding not to exceed the
amount set forth opposite such Lender’s name on Schedule 1.01 under the column “Revolving
Credit Commitment” or if such Lender has become a Lender hereunder pursuant to an Assumption
Agreement or if such Lender has entered into any Assignment and Assumption, the amount set forth
for such Lender in the Register, in each case as such amount may be reduced pursuant to Section
2.05 or increased pursuant to Section 2.18.

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

“Sale Leaseback Obligation Bonds” means PVNGS II Funding Corp.’s (a) 8.00% Secured
Lease Obligation Bonds, Series 1993, due 2015; (b) any other bonds issued by or on behalf of the
Borrower in connection with a sale/leaseback transaction; and (c) any refinancing or refunding of
the obligations specified in subclauses (a) and (b) above.

“SEC Reports” means the Borrower’s (i) Form 10-K Report for the year ended December
31, 2008, (ii) Form 10-Q Reports for the quarters ended March 31, 2009, June 30, 2009 and September
30, 2009 and (iii) Form 8-K Reports filed on January 26, 2009, February 20, 2009, February 25,
2009, March 3, 2009, March 24, 2009, March 24, 2009, April 2, 2009, April 22, 2009, May 4, 2009,
May 5, 2009, June 2, 2009, June 15, 2009, July 1, 2009, August 4, 2009, September 25, 2009, October
29, 2009, November 2, 2009, November 18, 2009, December 17, 2009, December 21, 2009, January 25,
2010 and February 1, 2010.

“Subsidiary” of any Person means any corporation, partnership, joint venture, limited
liability company, trust or estate of which (or in which) more than 50% of (a) the issued and
outstanding Voting Stock, (b) the interest in the capital or profits of such limited liability
company, partnership or joint venture or (c) the beneficial interest in such trust or estate, is at
the time directly or indirectly owned or controlled by such Person, by such Person and one or more
of its other Subsidiaries or by one or more of such Person’s other Subsidiaries.

 

14

 

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

“Termination Date” means the earlier of (a) February 12, 2013 and (b) the date of
termination in whole of the Commitments pursuant to Section 2.05 or 6.01.

“Total Outstandings” means the sum of (a) the aggregate principal amount of all
Advances plus (b) all L/C Obligations outstanding.

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

“Unissued Letter of Credit Commitment” means, with respect to any Issuing Bank, the
obligation of such Issuing Bank to issue Letters of Credit for the account of the Borrower in an
amount equal to the excess of (a) the amount of its Letter of Credit Commitment over (b) the
aggregate Available Amount of all Letters of Credit issued by such Issuing Bank.

“Unused Commitment” means, with respect to each Lender at any time, (a) such Lender’s
Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal
amount of all Advances made by such Lender (in its capacity as a Lender) and outstanding at such
time and (ii) such Lender’s Ratable Share of the aggregate L/C Obligations outstanding at such
time.

“Voting Stock” means capital stock issued by a corporation, or equivalent interests in
any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to
vote for the election of directors (or persons performing similar functions) of such Person, even
if the right so to vote has been suspended by the happening of such a contingency.

Section 1.02 Other Interpretive Provisions. With reference to this Agreement and each
other Loan Document, unless otherwise specified herein or in such other Loan Document:

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

 

15

 

law or regulation shall, unless otherwise specified, refer to such law or regulation as
amended, modified or supplemented from time to time, and (vi) the words “asset” and “property”
shall be construed to have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and contract rights.

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

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

Section 1.03 Accounting Terms. Unless otherwise specified herein, all accounting
terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and
all financial statements required to be delivered hereunder shall be prepared, in accordance with
generally accepted accounting principles as in effect from time to time, applied on a basis
consistent (except for changes concurred in by the Borrower’s independent public accountants) with
the most recent audited Consolidated financial statements of the Borrower delivered to the Agent
(“GAAP”). If at any time any change in GAAP or in the interpretation thereof would affect
the computation of any financial ratio or requirement set forth in any Loan Document, and either
the Borrower or the Required Lenders shall so request, the Agent, the Lenders and the Borrower
shall negotiate in good faith to amend such ratio or requirement to preserve the original intent
thereof in light of such change in GAAP or in the interpretation thereof (subject to the approval
of the Required Lenders); provided that, until so amended, such ratio or
requirement shall continue to be computed in accordance with GAAP prior to such change therein.

Section 1.04 Rounding. Any financial ratios required to be maintained by the Borrower
pursuant to this Agreement shall be calculated by dividing the appropriate component by the other
component, carrying the result to one place more than the number of places by which such ratio is
expressed herein and rounding the result up or down to the nearest number (with a rounding-up if
there is no nearest number).

Section 1.05 Times of Day. Unless otherwise specified, all references herein to times
of day shall be references to Eastern time (daylight or standard, as applicable).

ARTICLE II

AMOUNTS AND TERMS OF THE ADVANCES AND LETTERS OF CREDIT

Section 2.01 The Advances and Letters of Credit.

(a) The Advances. Each Lender severally agrees, on the terms and conditions
hereinafter set forth, to make Advances in Dollars to the Borrower from time to time on any
Business Day during the period from the Effective Date until the Termination Date in an amount not
to exceed such Lender’s Unused Commitment. Each Borrowing shall be in an aggregate amount of
$10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist

 

16

 

of Advances of the same Type made on the same day by the Lenders ratably according to their
respective Revolving Credit Commitments. Within the limits of each Lender’s Revolving Credit
Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under
this Section 2.01(a), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a).

(b) Letters of Credit. Each Issuing Bank agrees, on the terms and conditions
hereinafter set forth, in reliance upon the agreements of the other Lenders set forth in this
Agreement, to issue letters of credit (each, a “Letter of Credit”) for the account of the
Borrower from time to time on any Business Day during the period from the Effective Date until 30
days before the Termination Date in an aggregate Available Amount for all Letters of Credit issued
by each Issuing Bank not to exceed at any time such Issuing Bank’s Letter of Credit Commitment,
provided that after giving effect to the issuance of any Letter of Credit, (i) the Total
Outstandings shall not exceed the aggregate Revolving Credit Commitments and (ii) each Lender’s
Ratable Share of the Total Outstandings shall not exceed such Lender’s Revolving Credit Commitment.
No Letter of Credit shall have an expiration date (including all rights of the Borrower or the
beneficiary to require renewal) later than the Letter of Credit Expiration Date. Within the limits
referred to above, the Borrower may from time to time request the issuance of Letters of Credit
under this Section 2.01(b). The terms “issue”, “issued”, “issuance” and all similar terms, when
applied to a Letter of Credit, shall include any renewal, extension or amendment thereof.

Section 2.02 Making the Advances.

(a) Except as otherwise provided in Section 2.03(c), each Borrowing shall be made on notice,
given not later than (x) 12:00 noon on the third Business Day prior to the date of the proposed
Borrowing in the case of a Borrowing consisting of Eurodollar Rate Advances or (y) 12:00 noon on
the date of the proposed Borrowing in the case of a Borrowing consisting of Base Rate Advances, by
the Borrower to the Agent, which shall give to each Lender prompt notice thereof by facsimile.
Each such notice of a Borrowing (a “Notice of Borrowing”) shall be in writing or by
facsimile in substantially the form of Exhibit B hereto, specifying therein the requested
(i) date of such Borrowing, (ii) Type of Advances comprising such Borrowing, (iii) aggregate amount
of such Borrowing, and (iv) in the case of a Borrowing consisting of Eurodollar Rate Advances,
initial Interest Period for each such Advance. Each Lender shall, in the case of a Borrowing
consisting of Base Rate Advances, before 2:00 p.m. on the date of such Borrowing, and in the case
of a Borrowing consisting of Eurodollar Rate Advances, before 11:00 a.m. on date of such Borrowing,
make available for the account of its Applicable Lending Office to the Agent at the Agent’s
Account, in same day funds, such Lender’s Ratable Share of such Borrowing. After the Agent’s
receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III,
the Agent will make such funds available to the Borrower at the Agent’s address referred to in
Section 8.02 or as requested by the Borrower in the applicable Notice of Borrowing.

(b) Anything in subsection (a) above to the contrary notwithstanding, (i) the Borrower may not
select Eurodollar Rate Advances for any Borrowing if the aggregate amount of such Borrowing is less
than $10,000,000 or if the obligation of the Lenders to make Eurodollar Rate Advances shall then be
suspended pursuant to Section 2.08 or 2.12 and (ii) at no

 

17

 

time shall there be more than fifteen different Interest Periods outstanding for Eurodollar
Rate Advances.

(c) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. In the case of
any Borrowing that the related Notice of Borrowing specifies is to be comprised of Eurodollar Rate
Advances, the Borrower shall indemnify each Lender against any loss, cost or expense reasonably
incurred by such Lender as a result of any failure to fulfill on or before the date specified in
such Notice of Borrowing for such Borrowing the applicable conditions set forth in Article III,
including, without limitation, any loss (excluding loss of anticipated profits), cost or expense
incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such
Lender to fund the Advance to be made by such Lender as part of such Borrowing when such Advance,
as a result of such failure, is not made on such date.

(d) Unless the Agent shall have received notice from a Lender prior to the time of the
applicable Borrowing that such Lender will not make available to the Agent such Lender’s Ratable
Share of such Borrowing, the Agent may assume that such Lender has made such portion available to
the Agent on the date of such Borrowing in accordance with subsection (a) of this Section 2.02 and
the Agent may, in reliance upon such assumption, make available to the Borrower on such date a
corresponding amount. If and to the extent that such Lender shall not have so made such Ratable
Share available to the Agent, such Lender and the Borrower severally agree to repay to the Agent
within one Business Day after demand for such Lender and within three Business Days after demand
for the Borrower such corresponding amount together with interest thereon, for each day from the
date such amount is made available to the Borrower until the date such amount is repaid to the
Agent, at (i) in the case of the Borrower, the interest rate applicable at the time to Advances
comprising such Borrowing and (ii) in the case of such Lender, the Federal Funds Rate. If the
Borrower and such Lender shall pay such interest to the Agent for the same or an overlapping
period, the Agent shall promptly remit to the Borrower the amount of such interest paid by the
Borrower for such period. If such Lender shall repay to the Agent such corresponding amount, such
amount so repaid shall constitute such Lender’s Advance as part of such Borrowing for purposes of
this Agreement.

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

Section 2.03 Letters of Credit.

(a) General.

(i) No Issuing Bank shall issue any Letter of Credit, if the expiry date of such
requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless
all the Lenders have approved such expiry date.

(ii) No Issuing Bank shall be under any obligation to issue any Letter of Credit if:

 

18

 

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

(B) except as otherwise agreed by the Borrower and such Issuing Bank, such
Letter of Credit is in an initial stated amount less than $50,000, in the case of a
commercial Letter of Credit, or $500,000, in the case of a standby Letter of Credit;

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

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

(E) subject to Section 2.03(b)(iii), the expiry date of such requested Letter
of Credit would occur more than twelve months after the date of issuance or last
extension; or

(F) any Lender is at such time an Affected Lender hereunder, unless the
applicable Issuing Bank is satisfied that the related exposure will be 100% covered
by the Commitments of the non-Affected Lenders or, if not so covered, until such
Issuing Bank has entered into arrangements satisfactory to it in its sole discretion
with the Borrower or such Affected Lender to eliminate such Issuing Bank’s risk with
respect to such Affected Lender, and participating interests in any such newly
issued Letter of Credit shall be allocated among non-Affected Lenders in a manner
consistent with Section 2.19(c)(i) (and Affected Lenders shall not participate
therein);

(iii) No Issuing Bank shall amend any Letter of Credit if such Issuing Bank would not
be permitted at such time to issue such Letter of Credit in its amended form under the terms
hereof.

(iv) No Issuing Bank shall be under any obligation to amend any Letter of Credit if (A)
such Issuing Bank would have no obligation at such time to issue such Letter of Credit in
its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit
does not accept the proposed amendment to such Letter of Credit.

 

19

 

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

(i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of the Borrower delivered to the applicable Issuing Bank (with a copy to the Agent)
in the form of a Letter of Credit Application, appropriately completed and signed by an
Authorized Officer of the Borrower. Such Letter of Credit Application must be received by
such Issuing Bank and the Agent not later than 11:00 a.m. at least two Business Days (or
such later date and time as the Agent and such Issuing Bank may agree in a particular
instance in their sole discretion) prior to the proposed issuance date or date of amendment,
as the case may be. In the case of a request for an initial issuance of a Letter of Credit,
such Letter of Credit Application shall specify in form and detail satisfactory to the
applicable Issuing Bank: (A) the proposed issuance date of the requested Letter of Credit
(which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D)
the name and address of the beneficiary thereof; (E) the documents to be presented by such
beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be
presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature
of the requested Letter of Credit; and (H) such other matters as such Issuing Bank may
require. In the case of a request for an amendment of any outstanding Letter of Credit,
such Letter of Credit Application shall specify in form and detail satisfactory to the
applicable Issuing Bank (A) the Letter of Credit to be amended; (B) the proposed date of
amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment;
and (D) such other matters as such Issuing Bank may require. Additionally, the Borrower
shall furnish to the applicable Issuing Bank and the Agent such other documents and
information pertaining to such requested Letter of Credit issuance or amendment, including
any L/C Related Documents, as the applicable Issuing Bank or the Agent may require. In the
event and to the extent that the provisions of any Letter of Credit Application or other L/C
Related Document shall conflict with this Agreement, the provisions of this Agreement shall
govern. Without limitation of the immediately preceding sentence, no such Letter of Credit
Application or other L/C Related Document may impose any additional conditions on the
issuance or maintenance of a Letter of Credit, any additional default provisions, collateral
requirements or other obligations of the Borrower to any Issuing Bank, other than as stated
in this Agreement.

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

 

20

 

and unconditionally agrees to, purchase from such Issuing Bank a risk participation in
such Letter of Credit in an amount equal to the product of such Lender’s Ratable Share times
the amount of such Letter of Credit.

(iii) If the Borrower so requests in any applicable Letter of Credit Application, the
applicable Issuing Bank may, in its sole and absolute discretion, agree to issue a Letter of
Credit that has automatic extension provisions (each, an “Auto-Extension Letter of
Credit”); provided that any such Auto-Extension Letter of Credit must permit
such Issuing Bank to prevent any such extension at least once in each twelve-month period
(commencing with the date of issuance of such Letter of Credit) by giving prior notice to
the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in
each such twelve-month period to be agreed upon at the time such Letter of Credit is issued.
Unless otherwise directed by the applicable Issuing Bank, the Borrower shall not be
required to make a specific request to the applicable Issuing Bank for any such extension.
Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have
authorized (but may not require) the applicable Issuing Bank to permit the extension of such
Letter of Credit at any time to an expiry date not later than the Letter of Credit
Expiration Date; provided, however, that the applicable Issuing Bank shall
not permit any such extension (or may issue a Notice of Non-Extension) if (A) such Issuing
Bank has determined that it would not be permitted at such time to issue such Letter of
Credit in its revised form (as extended) by reason of the provisions of clause (i) of
Section 2.03(a) (or would have no obligation to issue such Letter of Credit by reason of the
provisions of clause (ii) of Section 2.03(a)), or (B) it has received notice (which may be
by telephone or in writing) on or before the day that is seven Business Days before the
Non-Extension Notice Date (1) from the Agent that the Required Lenders have elected not to
permit such extension pursuant to Section 6.02 or (2) from the Agent, the Required Lenders
or the Borrower that one or more of the applicable conditions specified in Section 3.02 is
not then satisfied, and in each such case directing such Issuing Bank not to permit such
extension.

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

(c) Drawings and Reimbursements; Funding of Participations.

(i) Subject to the provisions below, not later than 2:30 p.m. on the date (the
“Honor Date”) that any Issuing Bank makes any payment on a drawing on any Letter of
Credit, if the Borrower shall have received notice of such payment prior to 11:30 a.m. 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 2:30 p.m. on the next Business Day, the Borrower shall
reimburse such Issuing Bank through the Agent in an amount equal to the amount of such
drawing together with interest thereon. If the Borrower fails to so reimburse such Issuing
Bank by such time, unless the Borrower shall have advised the Agent that it does not meet
the conditions specified in clause (B) below, the Agent shall promptly notify each Lender of
the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed 

 

21

 

Amount”), and the amount of such Lender’s Ratable Share thereof. In such
event, the Borrower shall be deemed to have requested a Base Rate Advance to be disbursed on
the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum
and multiples specified in Section 2.01(a) or the delivery of a Notice of Borrowing, but
subject to (A) the amount of the aggregate Unused Commitments and (B) no Event of Default
having occurred and be continuing, or resulting therefrom and, to the extent so financed,
the Borrower’s obligation to satisfy the reimbursement obligation created by such payment by
the Issuing Bank on the Honor Date shall be discharged and replaced by the resulting Base
Rate Advance. Any notice given by any Issuing Bank or the Agent pursuant to this Section
2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided
that the lack of such an immediate confirmation shall not affect the conclusiveness or
binding effect of such notice.

(ii) Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds
available to the Agent for the account of the applicable Issuing Bank at the Agent’s Office
in an amount equal to its Ratable Share of the Unreimbursed Amount not later than 4:00 p.m.
on the Business Day specified in such notice by the Agent, whereupon, subject to the
provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be
deemed to have made a Base Rate Advance to the Borrower in such amount. The Agent shall
remit the funds so received to the applicable Issuing Bank.

(iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Base
Rate Advance because any of the conditions set forth in clauses (A), (B) or (C) of Section
2.03(c)(i) cannot be satisfied or for any other reason, then not later than 2:30 p.m. on the
next Business Day after the day notice of the drawing is given to the Borrower, in the case
of a failure to meet any such condition, or in any other case, after notice of the event
resulting in the outstanding Unreimbursed Amount, the Borrower shall reimburse such Issuing
Bank through the Agent in an amount equal to the amount of such outstanding Unreimbursed
Amount with interest thereon. If the Borrower fails to so reimburse such Issuing Bank by
such time, the Borrower shall be deemed to have incurred from the applicable Issuing Bank an
L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C
Borrowing shall be due and payable on demand (together with interest) and shall bear
interest at the Base Rate in effect from time to time plus the Applicable Rate for Base Rate
Advances in effect from time to time plus 2% per annum. In such event, each Lender’s
payment to the Agent for the account of the applicable Issuing Bank pursuant to Section
2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing
and shall constitute an L/C Advance from such Lender in satisfaction of its participation
obligation under this Section 2.03.

(iv) Until each Lender funds its Base Rate Advance or L/C Advance pursuant to this
Section 2.03(c) to reimburse the applicable Issuing Bank for any amount drawn under any
Letter of Credit, interest in respect of such Lender’s Ratable Share of such amount shall be
solely for the account of the applicable Issuing Bank.

(v) Each Lender’s obligation to make Base Rate Advances or L/C Advances to reimburse
the applicable Issuing Bank for amounts drawn under Letters of Credit, as

 

22

 

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

(vi) If any Lender fails to make available to the Agent for the account of the
applicable Issuing Bank any amount required to be paid by such Lender pursuant to the
foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii),
such Issuing Bank shall be entitled to recover from such Lender (acting through the Agent),
on demand, such amount with interest thereon for the period from the date such payment is
required to the date on which such payment is immediately available to such Issuing Bank at
a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by
such Issuing Bank in accordance with banking industry rules on interbank compensation, plus
any administrative, processing or similar fees customarily charged by such Issuing Bank in
connection with the foregoing. If such Lender pays such amount (with interest and fees as
aforesaid), the amount so paid shall constitute such Lender’s Base Rate Advance included in
the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case
may be. A certificate of the applicable Issuing Bank submitted to any Lender (through the
Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent
manifest error.

(d) Repayment of Participations.

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

(ii) If any payment received by the Agent for the account of the applicable Issuing
Bank pursuant to Section 2.03(c)(i) is required to be returned under any of the
circumstances described in Section 8.12 (including pursuant to any settlement entered into
by such Issuing Bank in its discretion), each Lender shall pay to the Agent for the account
of such Issuing Bank its Ratable Share thereof on demand of the Agent, plus interest thereon
from the date of such demand to the date such amount is returned by such Lender, at a rate
per annum equal to the Federal Funds Rate from time to time in effect.

 

23

 

The obligations of the Lenders under this clause shall survive the payment in full of
the Obligations and the termination of this Agreement.

(e) Failure to Make Advances. The failure of any Lender to make the Advance to be
made by it on the date specified in Section 2.03(c) or any L/C Advance shall not relieve any other
Lender of its obligation hereunder to make its Advance or L/C Advance, as the case may be, to be
made by such other Lender on such date.

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

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

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

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

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

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

provided, however, that nothing in this Section 2.03(f) shall limit the
rights of the Borrower under Section 2.03(g).

The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto
that is delivered to it and, in the event of any claim of noncompliance with the Borrower’s
instructions or other irregularity that is known to the Borrower in connection with

 

24

 

any draw under such Letter of Credit of which the Borrower has reasonable notice, the Borrower
will immediately notify the applicable Issuing Bank. To the extent allowed by applicable Law,
Borrower shall be conclusively deemed to have waived any such claim against the applicable Issuing
Bank and its correspondents unless such notice is given as aforesaid. Nothing herein shall require
the Borrower to make any determination as to whether the drawing is in accordance with the
requirements of the Letter of Credit, provided that the Borrower may waive any discrepancies in the
drawing on any such Letter of Credit.

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

(h) Cash Collateral. Upon the request of the Agent, if, as of the Letter of Credit
Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall, in each
case, immediately Cash Collateralize the then outstanding L/C Obligations. Section 6.02 sets forth
certain additional requirements to deliver Cash Collateral hereunder. For purposes of this Section
2.03 and Section 6.02, “Cash Collateralize” means to pledge and deposit with or deliver to the
Agent, for the benefit of the Issuing Banks and the Lenders, as collateral for the L/C Obligations,
cash or deposit account balances pursuant to documentation in form and

 

25

 

substance satisfactory to the Agent and each Issuing Bank (which documents are hereby
consented to by the Lenders). Derivatives of such term have corresponding meanings. The Borrower
hereby grants to the Agent, for the benefit of the Issuing Banks and the Lenders, a security
interest in all such cash, deposit accounts and all balances therein and all proceeds of the
foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts
with the Agent.

(i) Applicability of ISP and UCP. Unless otherwise expressly agreed by the
applicable Issuing Bank and the Borrower when a Letter of Credit is issued, (i) the rules of the
ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and
Practice for Documentary Credits, as most recently published by the International Chamber of
Commerce at the time of issuance shall apply to each commercial Letter of Credit.

(j) Letter of Credit Reports. Each Issuing Bank shall furnish (A) to the Agent on the
first Business Day of each month a written report summarizing issuance and expiration dates of
Letters of Credit issued by such Issuing Bank during the preceding month and drawings during such
month under all such Letters of Credit and (B) to the Agent on the first Business Day of each
calendar quarter a written report setting forth the average daily aggregate Available Amount during
the preceding calendar quarter of all Letters of Credit issued by such Issuing Bank.

(k) Interim Interest. Except as provided in Section 2.03(c)(ii) with respect to
Unreimbursed Amounts refinanced as Base Rate Advances and Section 2.03(c)(iii) with respect to L/C
Borrowings, unless the Borrower shall reimburse each payment by an Issuing Bank pursuant to a
Letter of Credit in full on the Honor Date, the Unreimbursed Amount thereof shall bear interest,
for each day from and including the Honor Date to but excluding the date that the Borrower
reimburses such Issuing Bank for the Unreimbursed Amount in full, at the rate per annum equal to
(i) the Base Rate in effect from time to time plus the Applicable Rate for Base Rate Advances in
effect from time to time, to but excluding the next Business Day after the Honor Date and (ii) from
and including the next Business Day after the Honor Date, the Base Rate in effect from time to time
plus the Applicable Rate for Base Rate Advances in effect from time to time plus 2% per annum.

Section 2.04 Fees.

(a) Commitment Fee. The Borrower agrees to pay to the Agent for the account of each
Lender a commitment fee on such Lender’s Unused Commitment from the Effective Date in the case of
each Initial Lender and from the effective date specified in the Assumption Agreement or in the
Assignment and Assumption pursuant to which it became a Lender in the case of each other Lender
until the Termination Date at a rate per annum equal to the Applicable Rate for Commitment Fees in
effect from time to time, payable in arrears quarterly on the last day of each March, June,
September and December, commencing March 31, 2010, and on the Termination Date, provided that no
commitment fee shall accrue with respect to the Unused Commitment of an Affected Lender so long as
such Lender shall be an Affected Lender.

 

26

 

(b) Letter of Credit Fees.

(i) The Borrower shall pay to the Agent for the account of each Lender a commission on
such Lender’s Ratable Share of the average daily aggregate Available Amount of all Letters
of Credit outstanding from time to time at a rate per annum equal to the Applicable Rate for
Eurodollar Rate Advances in effect from time to time, during such calendar quarter, payable
in arrears quarterly on the last day of each March, June, September and December, commencing
with the quarter ended March 31, 2010, and on the Termination Date; provided that
the Applicable Rate for Eurodollar Rate Advances shall be 2% above such Applicable Rate in
effect upon the occurrence and during the continuation of an Event of Default if the
Borrower is required to pay default interest pursuant to Section 2.07(b).

(ii) The Borrower shall pay to each Issuing Bank, for its own account, a fronting fee
with respect to each Letter of Credit issued by such Issuing Bank, payable in the amounts
and at the times specified in the applicable Fee Letter between the Borrower and such
Issuing Bank, and such other commissions, issuance fees, transfer fees and other fees and
charges in connection with the issuance or administration of each Letter of Credit as the
Borrower and such Issuing Bank shall agree promptly following receipt of an invoice
therefor.

(c) Agent’s Fees. The Borrower shall pay to the Agent for its own account such fees
as are agreed between the Borrower and the Agent pursuant to the Fee Letter between the Borrower
and the Agent.

Section 2.05 Optional Termination or Reduction of the Commitments.

(a) The Borrower shall have the right, upon at least three Business Days’ notice to the Agent,
to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued
Letter of Credit Commitments, provided that each partial reduction shall be in the
aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof.

(b) So long as no Default or Event of Default shall be continuing, the Borrower shall have the
right, at any time, upon at least ten Business Days’ notice to an Affected Lender (with a copy to
the Agent), to terminate in whole such Lender’s Revolving Credit Commitment and, if applicable, its
Letter of Credit Commitment, without affecting the Commitments of any other Lender. Such
termination shall be effective, (x) with respect to such Lender’s Unused Commitment, on the date
set forth in such notice, provided, however, that such date shall be no earlier
than ten Business Days after receipt of such notice and (y) with respect to each Advance
outstanding to such Lender, in the case of Base Rate Advances, on the date set forth in such notice
and, in the case of Eurodollar Rate Advances, on the last day of the then current Interest Period
relating to such Advance. Upon termination of a Lender’s Commitments under this Section 2.05(b),
the Borrower will pay or cause to be paid all principal of, and interest accrued to the date of
such payment on, Advances owing to such Lender and, subject to Section 2.19, pay any accrued
commitment fees or Letter of Credit fees payable to such Lender pursuant to the provisions of
Section 2.04, and all other amounts payable to such Lender hereunder (including, but not limited
to, any increased costs or other amounts owing under Section 2.11 and any

 

27

 

indemnification for Taxes under Section 2.14); and, if such Lender is an Issuing Bank, shall
pay to such Issuing Bank for deposit in an escrow account an amount equal to the Available Amount
of all Letters of Credit issued by such Issuing Bank, whereupon all Letters of Credit issued by
such Issuing Bank shall be deemed to have been issued outside of this Agreement on a bilateral
basis and shall cease for all purposes to constitute a Letter of Credit issued under this
Agreement, and upon such payments, except as otherwise provided below, the obligations of such
Lender hereunder shall, by the provisions hereof, be released and discharged; provided,
however, that (i) such Lender’s rights under Sections 2.11, 2.14 and 8.04, and, in the case
of an Issuing Bank, Section 8.04(c), and its obligations under Section 8.04 and 8.08, in each case
in accordance with the terms thereof, shall survive such release and discharge as to matters
occurring prior to such date and (ii) such escrow agreement shall be in a form reasonably agreed to
by the Borrower and such Issuing Bank, but in no event shall either the Borrower or such Issuing
Bank require any waivers, covenants, events of default or other provisions that are more
restrictive than or inconsistent with the provisions of this Agreement. Subject to Section 2.18,
the aggregate amount of the Commitments of the Lenders once reduced pursuant to this Section
2.05(b) may not be reinstated. The termination of the Commitments of an Affected Lender pursuant
to this Section 2.05(b) will not be deemed to be a waiver of any right that the Borrower, the
Agent, any Issuing Bank or any other Lender may have against the Affected Lender that arose prior
to the date of such termination. Upon any such termination, the Ratable Share of each remaining
Lender will be revised.

Section 2.06 Repayment of Advances. The Borrower shall repay to the Agent for the
ratable account of the Lenders on the Termination Date the aggregate principal amount of the
Advances made by such Lender and then outstanding.

Section 2.07 Interest on Advances.

(a) Scheduled Interest. The Borrower shall pay interest on the unpaid principal
amount of each Advance owing to each Lender from the date of such Advance until such principal
amount shall be paid in full, at the following rates per annum:

(i) Base Rate Advances. During such periods as such Advance is a Base Rate
Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from
time to time plus (y) the Applicable Rate for Base Rate Advances in effect from time
to time, payable in arrears quarterly on the last day of each March, June, September and
December during such periods and on the date such Base Rate Advance shall be Converted or
paid in full.

(ii) Eurodollar Rate Advances. During such periods as such Advance is a
Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for
such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance
plus (y) the Applicable Rate for Eurodollar Rate Advances in effect from time to
time, payable in arrears on the last day of such Interest Period and, if such Interest
Period has a duration of more than three months, on each day that occurs during such
Interest Period every three months from the first day of such Interest Period and on the
date such Eurodollar Rate Advance shall be Converted or paid in full.

 

28

 

(b) Default Interest. Upon the occurrence and during the continuance of an Event of
Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall,
require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal
amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause
(a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per
annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to
the fullest extent permitted by Law, the amount of any interest, fee or other amount payable
hereunder that is not paid when due, from the date such amount shall be due until such amount shall
be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at
a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on
Base Rate Advances pursuant to clause (a)(i) above, provided, however, that
following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and
be payable hereunder whether or not previously required by the Agent.

(c) Interest Rate Limitation. Nothing contained in this Agreement or in any other
Loan Document shall be deemed to establish or require the payment of interest to any Lender at a
rate in excess of the maximum rate permitted by applicable Law. If the amount of interest payable
for the account of any Lender on any interest payment date would exceed the maximum amount
permitted by applicable Law to be charged by such Lender, the amount of interest payable for its
account on such interest payment date shall be automatically reduced to such maximum permissible
amount. In the event of any such reduction affecting any Lender, if from time to time thereafter
the amount of interest payable for the account of such Lender on any interest payment date would be
less than the maximum amount permitted by applicable Law to be charged by such Lender, then the
amount of interest payable for its account on such subsequent interest payment date shall be
automatically increased to such maximum permissible amount, provided that at no time shall the
aggregate amount by which interest paid for the account of any Lender has been increased pursuant
to this sentence exceed the aggregate amount by which interest paid for its account has theretofore
been reduced pursuant to the previous sentence.

Section 2.08 Interest Rate Determination.

(a) The Agent shall give prompt notice to the Borrower and the Lenders of the applicable
interest rate determined by the Agent for purposes of Section 2.07(a).

(b) If the Required Lenders determine that for any reason in connection with any request for a
Eurodollar Rate Advance or a Conversion to or continuation thereof that (a) Dollar deposits are not
being offered to banks in the London interbank eurodollar market for the applicable amount and
Interest Period of such Eurodollar Rate Advance, (b) adequate and reasonable means do not exist for
determining the Eurodollar Rate for any requested Interest Period with respect to a proposed
Eurodollar Rate Advance, or (c) the Eurodollar Rate for any requested Interest Period with respect
to a proposed Eurodollar Rate Advance does not adequately and fairly reflect the cost to such
Lenders of funding such Advance, the Agent will promptly so notify the Borrower and each Lender,
whereupon each Eurodollar Rate Advance will automatically on the last day of the then existing
Interest Period therefor Convert into a Base Rate Advance. Thereafter, the obligation of the
Lenders to make or maintain Eurodollar Rate Advances shall be suspended until the Agent (upon the
instruction of the Required Lenders)

 

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revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request
for a Borrowing of, Conversion to or continuation of Eurodollar Rate Advances or, failing that,
will be deemed to have Converted such request into a request for a Base Rate Advance in the amount
specified therein.

(c) If the Borrower shall fail to select the duration of any Interest Period for any
Eurodollar Rate Advances in accordance with the provisions contained in the definition of “Interest
Period” in Section 1.01, the Agent will forthwith so notify the Borrower and the Lenders and such
Advances will automatically, on the last day of the then existing Interest Period therefor, Convert
into Base Rate Advances.

(d) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances
comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than
$10,000,000, such Advances shall automatically Convert into Base Rate Advances.

(e) Upon the occurrence and during the continuance of any Event of Default,

(i) with respect to Eurodollar Rate Advances, each such Advance will automatically, on
the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance
(or if such Advance is then a Base Rate Advance, will continue as a Base Rate Advance); and

(ii) the obligation of the Lenders to make Eurodollar Rate Advances or to Convert
Advances into Eurodollar Rate Advances shall be suspended until the Agent shall notify the
Borrower and the Lenders that the circumstances causing such suspension no longer exist.

Section 2.09 Optional Conversion of Advances. The Borrower may on any Business Day,
upon notice given to the Agent not later than 12:00 noon on the third Business Day prior to the
date of the proposed Conversion and subject to the provisions of Sections 2.08 and 2.12, Convert
all Advances of one Type comprising the same Borrowing into Advances of the other Type;
provided, however, that (a) any Conversion of Eurodollar Rate Advances into Base
Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate
Advances, (b) any Conversion of Base Rate Advances into Eurodollar Rate Advances shall be in an
amount not less than the minimum amount specified in Section 2.02(b) and (c) no Conversion of any
Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such
notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such
Conversion, (ii) the Advances to be Converted, and (iii) if such Conversion is into Eurodollar Rate
Advances, the duration of the initial Interest Period for each such Advance. Each notice of
Conversion shall be irrevocable and binding on the Borrower.

Section 2.10 Prepayments of Advances.

(a) Optional. At any time and from time to time, the Borrower shall have the right to
prepay the Advances, in whole or in part, without premium or penalty (except as provided in clause
(y) below), upon notice at least two Business Days’ prior to the date of such prepayment, in the
case of Eurodollar Rate Advances, and not later than 11:00 a.m. on the date of such prepayment, in
the case of Base Rate Advances, to the Agent specifying the proposed date of

 

30

 

such prepayment and the aggregate principal amount and Type of the Advances to be prepaid
(and, in the case of Eurodollar Rate Advances, the Interest Period of the Borrowing pursuant to
which made); provided, however, that (x) each partial prepayment shall be in an
aggregate principal amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof
and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be
obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(e).

(b) Mandatory.

(i) The Borrower shall prepay the aggregate principal amount of the Advances, together
with accrued interest to the date of prepayment on the principal amount prepaid, without
requirement of demand therefor, or shall pay or prepay any other Indebtedness then
outstanding at any time, when and to the extent required to comply with applicable Laws of
any Governmental Authority or applicable resolutions of the Board of Directors of the
Borrower.

(ii) If for any reason the Total Outstandings at any time exceed the aggregate
Commitments then in effect, the Borrower shall, within one Business Day after notice
thereof, prepay Advances and/or Cash Collateralize the L/C Obligations in an aggregate
amount equal to such excess; provided, however, that the Borrower shall not
be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.10(b)
unless, after the prepayment in full of the Advances, the Total Outstandings exceed the
aggregate Commitments then in effect.

Section 2.11 Increased Costs.

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

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account
of, or credit extended or participated in by, any Lender (except any reserve requirement
contemplated by Section 2.11(e)) or any Issuing Bank; or

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

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

 

31

 

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

(c) Certificates for Reimbursement. A certificate of a Lender or an Issuing Bank
setting forth the amount or amounts necessary to compensate such Lender or such Issuing Bank or its
holding company, as the case may be, as specified in subsection (a) or (b) of this Section and
delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such
Lender or such Issuing Bank, as the case may be, the amount shown as due on any such certificate
within 30 days after receipt thereof.

(d) Delay in Requests. Failure or delay on the part of any Lender or any Issuing Bank
to demand compensation pursuant to the foregoing provisions of this Section shall not constitute a
waiver of such Lender’s or such Issuing Bank’s right to demand such compensation, provided
that the Borrower shall not be required to compensate a Lender or an Issuing Bank pursuant to the
foregoing provisions of this Section for any increased costs incurred or reductions suffered more
than three months prior to the date that such Lender or such 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 such Issuing Bank’s intention to claim compensation therefor (except that, if the
Change in Law giving rise to such increased costs or reductions is retroactive, then the
three-month period referred to above shall be extended to include the period of retroactive effect
thereof).

(e) Reserves on Eurodollar Rate Loans. The Borrower shall pay to each Lender, as long
as such Lender shall be required to maintain reserves with respect to liabilities or assets
consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Advance
equal to the actual costs of such reserves allocated to such Advance by such Lender (as determined
by such Lender in good faith, which determination shall be conclusive absent manifest error), which
shall be due and payable on each date on which interest is payable on such Loan, provided
the Borrower shall have received at least 30 days’ prior notice (with a copy to the Agent) of such
additional interest from such Lender. If a Lender fails to give notice 30 days prior to the
relevant interest payment date, such additional interest shall be due and payable 30 days from
receipt of such notice.

 

32

 

Section 2.12 Illegality. If any Lender shall have determined in good faith that the
introduction of or any change in any applicable Law or in the interpretation or administration
thereof by any Governmental Authority charged with the interpretation or administration thereof, or
compliance with any guideline or request from any such Governmental Authority (whether or not
having the force of law), for any Lender or its Applicable Lending Office to make, maintain or fund
Eurodollar Rate Advances, or to determine or charge interest rates based upon the Eurodollar Rate,
or any Governmental Authority has imposed material restrictions on the authority of such Lender to
purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice
thereof by such Lender to the Borrower through the Agent, any obligation of such Lender to make or
continue Eurodollar Rate Advances or to convert Base Rate Advances to Eurodollar Rate Advances
shall be suspended until such Lender notifies the Agent and the Borrower that the circumstances
giving rise to such determination no longer exist. Upon receipt of such notice, the Borrower
shall, upon demand from such Lender (with a copy to the Agent), prepay or, if applicable, convert
all Eurodollar Rate Advances of such Lender to Base Rate Advances, either on the last day of the
Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate
Advances to such day, or immediately, if such Lender may not lawfully continue to maintain such
Eurodollar Rate Advances. Upon any such prepayment or conversion, the Borrower shall also pay
accrued interest on the amount so prepaid or converted.

Section 2.13 Payments and Computations.

(a) All payments to be made by the Borrower shall be made without condition or deduction for
any counterclaim, defense, recoupment or setoff. The Borrower shall make each payment hereunder
not later than 1:00 p.m. on the day when due in U.S. dollars to the Agent at the Agent’s Account in
same day funds. The Agent will promptly thereafter cause to be distributed like funds relating to
the payment of principal, interest, fees or commissions ratably (other than amounts payable
pursuant to Section 2.05(b), 2.11, 2.12, 2.14, 2.20 or 8.04(e)) to the Lenders for the account of
their respective Applicable Lending Offices, and like funds relating to the payment of any other
amount payable to any Lender to such Lender for the account of its Applicable Lending Office, in
each case to be applied in accordance with the terms of this Agreement. Upon any Assuming Lender
becoming a Lender hereunder as a result of a Commitment Increase pursuant to Section 2.18, and upon
the Agent’s receipt of such Lender’s Assumption Agreement and recording of the information
contained therein in the Register, from and after the applicable Increase Date, the Agent shall
make all payments hereunder and under any Notes issued in connection therewith in respect of the
interest assumed thereby to the Assuming Lender. Upon its acceptance of an Assignment and
Assumption and recording of the information contained therein in the Register pursuant to Section
8.07(c), from and after the effective date specified in such Assignment and Assumption, the Agent
shall make all payments hereunder and under the Notes in respect of the interest assigned thereby
to the Lender assignee thereunder, and the parties to such Assignment and Assumption shall make all
appropriate adjustments in such payments for periods prior to such effective date directly between
themselves.

(b) All computations of interest based on the Base Rate or the Federal Funds Rate shall be
made by the Agent on the basis of a year of 365 or 366 days, as the case may be, and all
computations of interest based on the Eurodollar Rate and of fees and Letter of Credit

 

33

 

commissions shall be made by the Agent on the basis of a year of 360 days, in each case for
the actual number of days (including the first day but excluding the last day) occurring in the
period for which such interest, fees or commissions are payable. Each determination by the Agent
of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest
error.

(c) Whenever any payment hereunder or under the Notes shall be stated to be due on a day other
than a Business Day, such payment shall be made on the next succeeding Business Day, and such
extension of time shall in such case be included in the computation of payment of interest, fees or
commissions, as the case may be; provided, however, that, if such extension would
cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next
following calendar month, such payment shall be made on the next preceding Business Day.

(d) Unless the Agent shall have received notice from the Borrower prior to the date on which
any payment is due to the Lenders hereunder that the Borrower will not make such payment in full,
the Agent may assume that the Borrower has made such payment in full to the Agent on such date and
the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due
date an amount equal to the amount then due such Lender. If and to the extent the Borrower shall
not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith
on demand such amount distributed to such Lender together with interest thereon, for each day from
the date such amount is distributed to such Lender until the date such Lender repays such amount to
the Agent, at the Federal Funds Rate.

Section 2.14 Taxes.

(a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes.

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

(ii) If the Borrower or the Agent shall be required by the Internal Revenue Code to
withhold or deduct any Taxes, including both United States Federal backup withholding and
withholding taxes, from any payment, then (A) the Agent shall withhold or make such
deductions as are determined by the Agent to be required based upon the information and
documentation it has received pursuant to subsection (e) below, (B) the Agent shall timely
pay the full amount withheld or deducted to the relevant Governmental Authority in
accordance with the Internal Revenue Code, and (C) to the extent that the withholding or
deduction is made on account of Indemnified Taxes or Other Taxes, the sum payable by the
Borrower shall be increased as necessary so that after any required withholding or the
making of all required deductions (including deductions applicable to additional sums
payable under this Section) the Agent, Lender or Issuing Bank, as the case may be, receives
an amount equal to the sum it would have received had no such withholding or deduction been
made.

 

34

 

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

(c) Tax Indemnifications.

(i) Without limiting the provisions of subsection (a) or (b) above, the Borrower shall,
and does hereby, indemnify the Agent, each Lender and each Issuing Bank, and shall make
payment in respect thereof within 30 days after written demand therefor, for the full amount
of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed
or asserted on or attributable to amounts payable under this Section) withheld or deducted
by the Borrower or the Agent or paid by the Agent, such Lender or such Issuing Bank, as the
case may be, and any penalties, interest and reasonable expenses arising therefrom or with
respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. The Borrower shall
also, and does hereby, indemnify the Agent, and shall make payment in respect thereof within
10 days after demand therefor, for any amount which a Lender or an Issuing Bank for any
reason fails to pay indefeasibly to the Agent as required by clause (ii) of this subsection.
A certificate as to the amount of any such payment or liability delivered to the Borrower
by a Lender or an Issuing Bank (with a copy to the Agent), or by the Agent on its own behalf
or on behalf of a Lender or an Issuing Bank, shall be conclusive absent manifest error.

(ii) Without limiting the provisions of subsection (a) or (b) above, each Lender and
each Issuing Bank shall, and does hereby, indemnify the Borrower and the Agent, and shall
make payment in respect thereof within 30 days after demand therefor, against any and all
Taxes and any and all related losses, claims, liabilities, penalties, interest and expenses
(including the fees, charges and disbursements of any counsel for the Borrower or the Agent)
incurred by or asserted against the Borrower or the Agent by any Governmental Authority as a
result of the failure by such Lender or such Issuing Bank, as the case may be, to deliver,
or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to
be delivered by such Lender or such Issuing Bank, as the case may be, to the Borrower or the
Agent pursuant to subsection (e). Each Lender and each Issuing Bank hereby authorizes the
Agent to set off and apply any and all amounts at any time owing to such Lender or such
Issuing Bank, as the case may be, under this Agreement or any other Loan Document against
any amount due to the Agent under this clause (ii). The agreements in this clause (ii)
shall survive the resignation and/or replacement of the Agent, any assignment of rights by,
or the replacement of, a Lender or an Issuing Bank, the termination of the Commitments and
the repayment, satisfaction or discharge of all other Obligations.

(d) Evidence of Payments. Upon request by the Borrower or the Agent, as the case may
be, after any payment of Taxes by the Borrower or by the Agent to a Governmental Authority as
provided in this 2.14, the Borrower shall deliver to the Agent or the Agent shall deliver to the
Borrower, as the case may be, the original or a certified copy of a receipt issued by such
Governmental Authority evidencing such payment, a copy of any return required by Laws

 

35

 

to report such payment or other evidence of such payment reasonably satisfactory to the
Borrower or the Agent, as the case may be.

(e) Status of Lenders; Tax Documentation.

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

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

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

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

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

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

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

 

36

 

(4) in the case of a Foreign Lender claiming the benefits of the
exemption for portfolio interest under section 881(c) of the Internal
Revenue Code, (x) a certificate to the effect that such Foreign Lender is
not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Internal
Revenue Code, (B) a “10 percent shareholder” of the Borrower within the
meaning of section 881(c)(3)(B) of the Internal Revenue Code, or (C) a
“controlled foreign corporation” described in section 881(c)(3)(C) of the
Internal Revenue Code and (y) executed originals of Internal Revenue
Service Form W-8BEN, or

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

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

(f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time
shall the Agent have any obligation to file for or otherwise pursue on behalf of a Lender or an
Issuing Bank, or have any obligation to pay to any Lender or any Issuing Bank, any refund of Taxes
withheld or deducted from funds paid for the account of such Lender or such Issuing Bank, as the
case may be. If the Agent, any Lender or any Issuing Bank determines, in its sole discretion, that
it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the
Borrower or with respect to which the Borrower has paid additional amounts pursuant to this
Section, it shall pay to the Borrower an amount equal to such refund (but only to the extent of
indemnity payments made, or additional amounts paid, by the Borrower under this Section with
respect to the Taxes or Other Taxes giving rise to such refund), net of all reasonable
out-of-pocket expenses incurred by the Agent, such Lender or such Issuing Bank, 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 Borrower, upon the request of the Agent, such
Lender or such Issuing Bank, agrees to repay the amount paid over to the Borrower (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) to the Agent,
such Lender or such Issuing Bank in the event the Agent, such Lender or such Issuing Bank is
required to repay such refund to such Governmental Authority. This subsection shall not be
construed to require the Agent, any Lender or any Issuing Bank to make available its tax returns
(or any other information relating to its taxes that it deems confidential) to the Borrower or any
other Person.

 

37

 

(g) Payments. Failure or delay on the part of the Agent, any Lender or any Issuing
Bank to demand compensation pursuant to the foregoing provisions of this Section 2.14 shall not
constitute a waiver of the Agent’s, such Lender’s or such Issuing Bank’s right to demand such
compensation, provided that the Borrower shall not be required to compensate the Agent, a
Lender or an Issuing Bank pursuant to the foregoing provisions of this Section 2.14 for any
Indemnified Taxes or Other Taxes imposed or asserted by the relevant Governmental Authority more
than three months prior to the date that the Agent, such Lender or such Issuing Bank, as the case
may be, claims compensation with respect thereto (except that, if a Change in Law giving rise to
such Indemnified Taxes or Other Taxes is retroactive, then the three-month period referred to above
shall be extended to include the period of retroactive effect thereof).

(h) Each of the Agent, any Issuing Bank or any Lender agrees to cooperate with any reasonable
request made by the Borrower in respect of a claim of a refund in respect of Indemnified Taxes as
to which it has been indemnified by the Borrower or with respect to which the Borrower has paid
additional amounts pursuant to this Section 2.14 if (i) the Borrower has agreed in writing to pay
all of the Agent’s or such Issuing Bank’s or such Lender’s reasonable out-of-pocket costs and
expenses relating to such claim, (ii) the Agent or such Issuing Bank or such Lender determines, in
its good faith judgment, that it would not be disadvantaged, unduly burdened or prejudiced as a
result of such claim and (iii) the Borrower furnishes, upon request of the Agent, or such Issuing
Bank or such Lender, an opinion of tax counsel (such opinion, which can be reasoned, and such
counsel to be reasonably acceptable to such Lender, or such Issuing Bank or the Agent) that the
Borrower is likely to receive a refund or credit.

Section 2.15 Sharing of Payments, Etc. If any Lender shall obtain any payment
(whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on
account of the Advances or L/C Advances owing to it (other than pursuant to Section 2.05(b), 2.11,
2.12, 2.14, 2.20 or 8.04(e) or any payment obtained by a Lender as consideration for the assignment
of or sale of a participation in any of its Advances or participations in Letters of Credit to any
assignee or participant, other than to the Borrower or any Subsidiary thereof if permitted hereby
(as to which the provisions of this Section 2.15 shall apply) in excess of its Ratable Share of
payments on account of the Advances obtained by all the Lenders, such Lender shall forthwith
purchase from the other Lenders (for cash at face value) such participations in the Advances owing
to them as shall be necessary to cause such purchasing Lender to share the excess payment ratably
with each of them; provided, however, that if all or any portion of such excess
payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall
be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the extent
of such recovery together with an amount equal to such Lender’s Ratable Share (according to the
proportion of (i) the amount of such Lender’s required repayment to (ii) the total amount so
recovered from the purchasing Lender) of any interest or other amount paid or payable by the
purchasing Lender in respect of the total amount so recovered. The Borrower agrees that any Lender
so purchasing a participation from another Lender pursuant to this Section 2.15 may, to the fullest
extent permitted by Law, exercise all its rights of payment (including the right of set-off) with
respect to such participation as fully as if such Lender were the direct creditor of the Borrower
in the amount of such participation.

 

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Section 2.16 Evidence of Debt.

(a) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Advance owing to
such Lender from time to time, including the amounts of principal and interest payable and paid to
such Lender from time to time hereunder in respect of Advances. The Borrower agrees that upon
notice by any Lender to the Borrower (with a copy of such notice to the Agent) to the effect that a
Note is required or appropriate in order for such Lender to evidence (whether for purposes of
pledge, enforcement or otherwise) the Advances owing to, or to be made by, such Lender, the
Borrower shall promptly execute and deliver to such Lender a Note payable to the order of such
Lender in a principal amount up to the Revolving Credit Commitment of such Lender.

(b) The Register maintained by the Agent pursuant to Section 8.07(c) shall include a control
account, and a subsidiary account for each Lender, in which accounts (taken together) shall be
recorded (i) the date and amount of each Borrowing made hereunder, the Type of Advances comprising
such Borrowing and, if appropriate, the Interest Period applicable thereto, (ii) the terms of each
Assumption Agreement and each Assignment and Assumption delivered to and accepted by it, (iii) the
amount of any principal or interest due and payable or to become due and payable from the Borrower
to each Lender hereunder and (iv) the amount of any sum received by the Agent from the Borrower
hereunder and each Lender’s share thereof.

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

Section 2.17 Use of Proceeds. The proceeds of the Advances shall be available (and
the Borrower agrees that it shall use such proceeds) solely to refinance Indebtedness of the
Borrower from time to time and for other general corporate purposes of the Borrower.

Section 2.18 Increase in the Aggregate Revolving Credit Commitments.

(a) The Borrower may, at any time prior to the Termination Date, by notice to the Agent,
request that the aggregate amount of the Revolving Credit Commitments be increased by an amount of
$10,000,000 or an integral multiple thereof (each a “Commitment Increase”) to be effective
as of a date that is at least 90 days prior to the Termination Date (the “Increase Date”)
as specified in the related notice to the Agent; provided, however that (i) in no
event shall the aggregate amount of the Revolving Credit Commitments at any time exceed
$300,000,000 or the aggregate amount of Commitment Increases exceed $100,000,000 and (ii) on the
date of any request by the Borrower for a Commitment Increase and on the related Increase Date, the
applicable conditions set forth in this Section 2.18 shall be satisfied.

 

39

 

(b) The Agent shall promptly notify the Lenders of a request by the Borrower for a Commitment
Increase, which notice shall include (i) the proposed amount of such requested Commitment Increase,
(ii) the proposed Increase Date and (iii) the date by which Lenders wishing to participate in the
Commitment Increase must commit to an increase in the amount of their respective Revolving Credit
Commitments (the “Commitment Date”). Each Lender that is willing to participate in such
requested Commitment Increase (each an “Increasing Lender”) shall, in its sole discretion,
give written notice to the Agent on or prior to the Commitment Date of the amount by which it is
willing to increase its Revolving Credit Commitment. If the Lenders notify the Agent that they are
willing to increase the amount of their respective Revolving Credit Commitments by an aggregate
amount that exceeds the amount of the requested Commitment Increase, the requested Commitment
Increase shall be allocated among the Lenders willing to participate therein in such amounts as are
agreed between the Borrower and the Agent.

(c) Promptly following each Commitment Date, the Agent shall notify the Borrower as to the
amount, if any, by which the Lenders are willing to participate in the requested Commitment
Increase. If the aggregate amount by which the Lenders are willing to participate in any requested
Commitment Increase on any such Commitment Date is less than the requested Commitment Increase,
then the Borrower may extend offers to one or more Eligible Assignees to participate in any portion
of the requested Commitment Increase that has not been committed to by the Lenders as of the
applicable Commitment Date; provided, however, that the Revolving Credit Commitment
of each such Eligible Assignee shall be in an amount of not less than $10,000,000.

(d) On each Increase Date, each Eligible Assignee that accepts an offer to participate in a
requested Commitment Increase in accordance with Section 2.18(b) (each such Eligible Assignee, an
“Assuming Lender”) shall become a Lender party to this Agreement as of such Increase Date
and the Revolving Credit Commitment of each Increasing Lender for such requested Commitment
Increase shall be so increased by the amount by which the Increasing Lender agreed to increase its
Revolving Credit Commitment (or by the amount allocated to such Lender pursuant to the last
sentence of Section 2.18(b)) as of such Increase Date; provided, however, that the
Agent shall have received on or before such Increase Date the following, each dated such date:

(i) (A) certified copies of resolutions of the Board of Directors of the Borrower
approving the Commitment Increase and the corresponding modifications to this Agreement, (B)
an opinion of counsel for the Borrower (which may be in-house counsel), in form and
substance reasonably acceptable to the Required Lenders and (C) a certificate from a duly
authorized officer of the Borrower, stating that the conditions set forth in Section 3.02(a)
and (b) are satisfied;

(ii) an assumption agreement from each Assuming Lender, if any, in form and substance
satisfactory to the Borrower and the Agent (each an “Assumption Agreement”), duly
executed by such Assuming Lender, the Agent and the Borrower; and

 

40

 

(iii) confirmation from each Increasing Lender of the increase in the amount of its
Revolving Credit Commitment in a writing satisfactory to the Borrower and the Agent.

On each Increase Date, upon fulfillment of the conditions set forth in the immediately preceding
sentence of this Section 2.18(d), the Agent shall notify the Lenders (including, without
limitation, each Assuming Lender) and the Borrower, on or before 1:00 p.m., by telecopier, of the
occurrence of the Commitment Increase to be effected on such Increase Date and shall record in the
Register the relevant information with respect to each Increasing Lender and each Assuming Lender
on such date. Each Increasing Lender and each Assuming Lender shall, before 2:00 p.m. on the
Increase Date, make available for the account of its Applicable Lending Office to the Agent at the
Agent’s Account, in same day funds, in the case of such Assuming Lender, an amount equal to such
Assuming Lender’s Ratable Share of the Borrowings then outstanding (calculated based on its
Revolving Credit Commitment as a percentage of the aggregate Revolving Credit Commitments
outstanding after giving effect to the relevant Commitment Increase) and, in the case of such
Increasing Lender, an amount equal to the excess of (i) such Increasing Lender’s Ratable Share of
the Borrowings then outstanding (calculated based on its Revolving Credit Commitment as a
percentage of the aggregate Revolving Credit Commitments outstanding after giving effect to the
relevant Commitment Increase) over (ii) such Increasing Lender’s Ratable Share of the Borrowings
then outstanding (calculated based on its Revolving Credit Commitment (without giving effect to the
relevant Commitment Increase) as a percentage of the aggregate Revolving Credit Commitments
(without giving effect to the relevant Commitment Increase). After the Agent’s receipt of such
funds from each such Increasing Lender and each such Assuming Lender, the Agent will promptly
thereafter cause to be distributed like funds to the other Lenders for the account of their
respective Applicable Lending Offices in an amount to each other Lender such that the aggregate
amount of the outstanding Advances owing to each Lender after giving effect to such distribution
equals such Lender’s Ratable Share of the Borrowings then outstanding (calculated based on its
Revolving Credit Commitment as a percentage of the aggregate Revolving Credit Commitments
outstanding after giving effect to the relevant Commitment Increase).

Section 2.19 Affected Lenders. Notwithstanding any provision of this Agreement to the
contrary, if any Lender becomes an Affected Lender, then the following provisions shall apply for
so long as such Lender is an Affected Lender:

(a) fees shall cease to accrue on the Unused Commitment of such Affected Lender pursuant to
Section 2.04(a);

(b) the Revolving Credit Commitment and Advances of such Affected Lender shall not be included
in determining whether the Required Lenders have taken or may take any action hereunder (including
any consent to any amendment or waiver pursuant to Section 8.01), other than any waiver, amendment
or modification requiring the consent of all Lenders or of each Lender affected;

(c) if there shall be any Available Amount under any outstanding Letter of Credit during any
time a Lender is an Affected Lender, then:

 

41

 

(i) all or any part of the Available Amount of all such Letters of Credit shall be
reallocated among the non-Affected Lenders in accordance with their respective Ratable
Shares (disregarding any Affected Lender’s Revolving Credit Commitment) but only to the
extent that with respect to each non-Affected Lender the sum of (A) the aggregate principal
amount of all Advances made by such non-Affected Lender (in its capacity as a Lender) and
outstanding at such time plus (B) such non-Affected Lender’s Ratable Share (after giving
effect to the reallocation contemplated in this Section 2.19(c)(i)) of the outstanding L/C
Obligations, does not exceed such non-Affected Lender’s Revolving Credit Commitment;

(ii) if the Ratable Share of the Available Amount of outstanding Letters of Credit of
the non-Affected Lenders is reallocated pursuant to Section 2.19(c), then the fees payable
to the Lenders pursuant to Section 2.04(a) and Section 2.04(b) shall be adjusted in
accordance with such non-Affected Lenders’ Ratable Shares; and

(iii) if the Affected Lender’s Ratable Share (the “Affected Lender Share”) of
the Available Amount of all outstanding Letters of Credit is not reallocated pursuant to
Section 2.19(c), then, without prejudice to any rights or remedies of any Issuing Bank or
any Lender hereunder, the fee payable under Section 2.04(b) with respect to such Affected
Lender Share shall be payable to the Issuing Bank until such Affected Lender Share is
reallocated;

(d) to the extent the Agent receives any payments or other amounts for the account of an
Affected Lender under this Agreement, such Affected Lender shall be deemed to have requested that
the Agent use such payment or other amount to fulfill such Affected Lender’s previously unsatisfied
obligations to fund an Advance under Section 2.03(c) or L/C Advance or any other unfunded payment
obligation of such Affected Lender under this Agreement; and

(e) for the avoidance of doubt, the Borrower, each Issuing Bank, the Agent and each other
Lender shall retain and reserve its other rights and remedies respecting each Affected Lender.

In the event that the Agent, the Borrower and the Issuing Banks each agrees that an Affected
Lender has adequately remedied all matters that caused such Lender to be an Affected Lender, then
the Ratable Shares of the Lenders shall be readjusted to reflect the inclusion of such Lender’s
Revolving Credit Commitment and on such date such Lender shall purchase at par such of the Advances
of the other Lenders as the Agent shall determine may be necessary in order for such Lender to hold
such Advances in accordance with its Ratable Share. In addition, at such time as the Affected
Lender is replaced by another Lender pursuant to Section 2.20, the Ratable Shares of the Lenders
will be readjusted to reflect the inclusion of the replacing Lender’s Commitment in accordance with
Section 2.20. In either such case, this Section 2.19 will no longer apply.

Section 2.20 Replacement of Lenders. If any Lender requests compensation under
Section 2.11, or if the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 2.14, or if any Lender is
an Affected Lender, then the Borrower may, at its sole expense and effort, upon notice to such

 

42

 

Lender and the Agent, require such Lender to assign and delegate, without recourse (in
accordance with and subject to the restrictions contained in, and consents required by, Section
8.07), all of its interests, rights and obligations under this Agreement and the related Loan
Documents to one or more assignees that shall assume such obligations (which any such assignee may
be another Lender, if a Lender accepts such assignment), provided that:

(a) the Borrower shall have paid to the Agent the assignment fee specified in Section 8.07(b);

(b) such Lender shall have received payment of an amount equal to the outstanding principal of
its Advances and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable
to it hereunder and under the other Loan Documents (including any amounts under Section 8.04(e))
from the assignee (to the extent of such outstanding principal and accrued interest and fees) or
the Borrower (in the case of all other amounts);

(c) in the case of any such assignment resulting from a claim for compensation under Section
2.11 or payments required to be made pursuant to Section 2.14, such assignment will result in a
reduction in such compensation or payments thereafter; and

(d) such assignment does not conflict with applicable Laws.

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

ARTICLE III

CONDITIONS PRECEDENT

Section 3.01 Conditions Precedent to Effectiveness. This Agreement shall become
effective on and as of the first date (the “Effective Date”) on which the following
conditions precedent have been satisfied:

(a) The Lenders shall have been given such access to the management, records, books of
account, contracts and properties of the Borrower and its Subsidiaries as they shall have
requested.

(b) The Borrower shall have paid all accrued fees and agreed expenses of the Agent, the
Arrangers and the Lenders and the reasonable accrued fees and expenses of counsel to the Agent that
have been invoiced at least one Business Day prior to the Effective Date.

(c) On the Effective Date, the following statements shall be true and the Agent shall have
received a certificate signed by a duly authorized officer of the Borrower, dated the Effective
Date, stating that:

(i) The representations and warranties contained in Section 4.01 are true and correct
on and as of the Effective Date, and

 

43

 

(ii) No event has occurred and is continuing that constitutes a Default.

(d) The Agent shall have received on or before the Effective Date the following, each dated
such day, in form and substance satisfactory to the Agent and the Lenders:

(i) Receipt by the Agent of executed counterparts of this Agreement properly executed
by a duly authorized officer of the Borrower and by each Lender.

(ii) The Notes, payable to the order of the Lenders to the extent requested by any
Lender pursuant to Section 2.16.

(iii) The articles of incorporation of the Borrower certified to be true and complete
as of a recent date by the appropriate governmental authority of the state or other
jurisdiction of its incorporation and certified by a secretary, assistant secretary or
associate secretary of the Borrower to be true and correct as of the Effective Date.

(iv) The bylaws of the Borrower certified by a secretary, assistant secretary or
associate secretary of the Borrower to be true and correct as of the Effective Date.

(v) Certified copies of the resolutions of the Board of Directors of the Borrower
approving this Agreement and the Notes, and of all documents evidencing other necessary
corporate action and governmental approvals, if any, with respect to this Agreement and the
Notes.

(vi) A certificate of the secretary, assistant secretary or associate secretary of the
Borrower certifying the names and true signatures of the officers of the Borrower authorized
to sign this Agreement and the Notes and the other documents to be delivered hereunder.

(vii) A certificate as of a recent date from the Borrower’s state of incorporation
evidencing that the Borrower is in good standing in its state of organization or formation.

(viii) A favorable opinion of Snell & Wilmer L.L.P., counsel for the Borrower, in form
and substance reasonably acceptable to the Lenders.

(e) Concurrently with or before the Effective Date, (i) all principal, interest and other
amounts outstanding under the Borrower’s existing Amended and Restated Credit Agreement dated as of
December 9, 2005 (the “Existing Senior Credit Agreement”) shall be repaid and satisfied in
full, (ii) all commitments to extend credit under the Existing Senior Credit Agreement shall be
terminated and (iii) any letters of credit outstanding under the Existing Senior Credit Agreement
shall have been terminated, canceled or replaced; and the Agent shall have received evidence of the
foregoing satisfactory to it, including an escrow agreement or payoff letter executed by the
lenders or the agent under the Existing Senior Credit Agreement.

Section 3.02 Conditions Precedent to Each Credit Extension and Commitment Increase.
The obligation of each Lender to make an Advance (other than an L/C Advance or a Base Rate Advance
made pursuant to Section 2.03(c)) on the occasion of each Borrowing, the obligation of each Issuing
Bank to issue a Letter of Credit, and each Commitment Increase shall be subject to

 

44

 

the conditions precedent that the Effective Date shall have occurred and on the date of such
Borrowing or such issuance (as the case may be), or the applicable Increase Date, the following
statements shall be true (and each of the giving of the applicable Notice of Borrowing or request
for issuance and the acceptance by the Borrower of the proceeds of such Borrowing shall constitute
a representation and warranty by the Borrower that on the date of such Borrowing or date of such
issuance such statements are true):

(a) the representations and warranties contained in Section 4.01 (other than Section 4.01(k),
and in the case of a Borrowing or issuance, Section 4.01(e)(ii) and 4.01(f)(ii)) are correct on and
as of such date, before and after giving effect to such Borrowing or issuance, or such Commitment
Increase and to the application of the proceeds therefrom, as though made on and as of such date;
and

(b) no event has occurred and is continuing, or would result from such Borrowing or issuance,
or such Commitment Increase or from the application of the proceeds therefrom, that constitutes a
Default.

Each request for Credit Extension (which shall not include a Conversion or a continuation of
Eurodollar Rate Advances) submitted by the Borrower shall be deemed to be a representation and
warranty that the conditions specified in Sections 3.02(a) and (b) have been satisfied on and as of
the date of the applicable Credit Extension.

Section 3.03 Determinations Under Section 3.01. For purposes of determining
compliance with the conditions specified in Section 3.01 and the satisfaction of each Lender with
respect to letters delivered to it from the Borrower as set forth in Sections 4.01(a), 4.01(e) and
4.01(f), each Lender that has signed this Agreement shall be deemed to have consented to, approved
or accepted or to be satisfied with each document or other matter required thereunder to be
consented to or approved by or acceptable or satisfactory to the Lenders unless an officer of the
Agent responsible for the transactions contemplated by this Agreement shall have received notice
from such Lender prior to the date that the Borrower designates as the proposed Effective Date,
specifying its objection thereto. The Agent shall promptly notify the Lenders and the Borrower of
the occurrence of the Effective Date.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

Section 4.01 Representations and Warranties of the Borrower. The Borrower represents
and warrants as follows:

(a) Each of the Borrower and each Material Subsidiary: (i) is a corporation or other entity
duly organized and validly existing under the Laws of the jurisdiction of its incorporation or
organization; (ii) has all requisite corporate or if the Material Subsidiary is not a corporation,
other comparable power necessary to own its assets and carry on its business as presently
conducted; (iii) has all governmental licenses, authorizations, consents and approvals necessary to
own its assets and carry on its business as presently conducted, if the failure to have any such
license, authorization, consent or approval is reasonably likely to have a Material Adverse Effect

 

45

 

and except as disclosed to the Agent in the SEC Reports or by means of a letter from the
Borrower to the Lenders (such letter, if any, to be delivered to the Agent for prompt distribution
to the Lenders) delivered prior to the execution and delivery of this Agreement (which, in each
case, shall be satisfactory to each Lender in its sole discretion) and except that (A) APS from
time to time may make minor extensions of its lines, plants, services or systems prior to the time
a related franchise, certificate of convenience and necessity, license or permit is procured, (B)
from time to time communities served by APS may become incorporated and considerable time may
elapse before such a franchise is procured, (C) certain such franchises may have expired prior to
the renegotiation thereof, (D) certain minor defects and exceptions may exist which, individually
and in the aggregate, are not material and (E) certain franchises, certificates, licenses and
permits may not be specific as to their geographical scope); and (iv) is qualified to do business
in all jurisdictions in which the nature of the business conducted by it makes such qualification
necessary and where failure so to qualify is reasonably likely to have a Material Adverse Effect.

(b) The execution, delivery and performance by the Borrower of this Agreement and the other
Loan Documents, and the consummation of the transactions contemplated hereby, are within the
Borrower’s corporate powers, have been duly authorized by all necessary corporate action, and do
not (i) contravene the Borrower’s articles of incorporation or by-laws, (ii) contravene any Law,
decree, writ, injunction or determination of any Governmental Authority, in each case applicable to
or binding upon the Borrower or any of its properties, (iii) contravene any contractual restriction
binding on or affecting the Borrower or (iv) cause the creation or imposition of any Lien upon the
assets of the Borrower or any Material Subsidiary, except for Liens created under this Agreement
and except where such contravention or creation or imposition of such Lien is not reasonable likely
to have a Material Adverse Effect.

(c) No authorization or approval or other action by, and no notice to or filing with, any
Governmental Authority is required for the due execution, delivery and performance by the Borrower
of this Agreement or the Notes to be delivered by it.

(d) This Agreement has been, and each of the other Loan Documents upon execution and delivery
will have been, duly executed and delivered by the Borrower. This Agreement is, and each of the
other Loan Documents upon execution and delivery will be, the legal, valid and binding obligation
of the Borrower enforceable against the Borrower in accordance with their respective terms,
subject, however, to the application by a court of general principles of equity and to the effect
of any applicable bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting
creditors’ rights generally.

(e) (i) The Consolidated balance sheet of the Borrower as of December 31, 2008, and the
related Consolidated statements of income and cash flows of the Borrower for the fiscal year then
ended, accompanied by an opinion thereon of Deloitte & Touche LLP, independent registered public
accountants, and the Consolidated balance sheet of the Borrower as of September 30, 2009, and the
related Consolidated statements of income and cash flows of the Borrower for the nine months then
ended, duly certified by the chief financial officer of the Borrower, copies of which have been
furnished to the Agent, fairly present in all material respects, subject, in the case of said
balance sheet as of September 30, 2009, and said statements of income and cash flows for the nine
months then ended, to year-end audit adjustments, the

 

46

 

Consolidated financial condition of the Borrower as at such dates and the Consolidated results
of the operations of the Borrower for the periods ended on such dates, all in accordance with GAAP
(except as disclosed therein). (ii) Except as disclosed to the Agent in the SEC Reports or by
means of a letter from the Borrower to the Lenders (such letter, if any, to be delivered to the
Agent for prompt distribution to the Lenders) delivered prior to the execution and delivery of this
Agreement (which, in each case, shall be satisfactory to each Lender in its sole discretion), since
December 31, 2008, there has been no Material Adverse Effect.

(f) There is no pending or, to the knowledge of an Authorized Officer of the Borrower,
threatened action, suit, investigation, litigation or proceeding, including, without limitation,
any Environmental Action, affecting the Borrower or any of its Subsidiaries before any court,
governmental agency or arbitrator that (i) purports to affect the legality, validity or
enforceability of this Agreement or any other Loan Document or the consummation of the transactions
contemplated hereby or (ii) would be reasonably likely to have a Material Adverse Effect (except as
disclosed to the Agent in the SEC Reports or by means of a letter from the Borrower to the Lenders
(such letter, if any, to be delivered to the Agent for prompt distribution to the Lenders)
delivered prior to the execution and delivery of this Agreement (which, in each case, shall be
satisfactory to each Lender in its sole discretion) delivered prior to the execution and delivery
of this Agreement) and there has been no adverse change in the status, or financial effect on the
Borrower or any of its Subsidiaries, of such disclosed litigation that would be reasonably likely
to have a Material Adverse Effect.

(g) No proceeds of any Advance will be used to acquire any equity security not issued by the
Borrower of a class that is registered pursuant to Section 12 of the Securities Exchange Act of
1934.

(h) The Borrower is not engaged in the business of extending credit for the purpose of
purchasing or carrying margin stock (within the meaning of Regulation U issued by the Board of
Governors of the Federal Reserve System), and no proceeds of any Advance will be used to purchase
or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying
any margin stock, in any case in violation of Regulation U.

(i) The Borrower and its Material Subsidiaries have filed all United States Federal income tax
returns and all other material tax returns which are required to be filed by them and have paid all
taxes due pursuant to such returns or pursuant to any assessment received by the Borrower or any of
its Subsidiaries, except to the extent that (i) such taxes are being contested in good faith and by
appropriate proceedings and that appropriate reserves for the payment thereof have been maintained
by the Borrower and its Subsidiaries in accordance with GAAP or (ii) the failure to make such
filings or such payments is not reasonably likely to have a Material Adverse Effect. The charges,
accruals and reserves on the books of the Borrower and its Material Subsidiaries as set forth in
the most recent financial statements of the Borrower delivered to the Agent pursuant to Section
4.01(e) or Section 5.01(h)(i) or (ii) hereof in respect of taxes and other governmental charges
are, in the opinion of the Borrower, adequate.

(j) Set forth on Schedule 4.01(j) hereto (as such schedule may be modified from time
to time by the Borrower by written notice to the Agent) is a complete and accurate list of all the
Material Subsidiaries of the Borrower.

 

47

 

(k) Set forth on Schedule 4.01(k) hereto is a complete and accurate list identifying
any Indebtedness of the Borrower outstanding in a principal amount equal to or exceeding $5,000,000
and which is not described in the financial statements referred to in Section 4.01(e).

(l) The Borrower is not an “investment company”, or a company “controlled” by an “investment
company”, within the meaning of the Investment Company Act of 1940, as amended.

(m) No report, certificate or other written information furnished by the Borrower or any of
its Subsidiaries to any Agent or any Lender in connection with the transactions contemplated hereby
and the negotiation of this Agreement or delivered hereunder or any other Loan Document (as
modified or supplemented by other information so furnished) at the time so furnished, when taken
together as a whole with all such written information so furnished, contains an untrue statement of
a material fact or omits to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading, except as
would not reasonably be expected to result in a Material Adverse Effect; provided that with
respect to any projected financial information, forecasts, estimates or forward-looking
information, the Borrower represents only that such information and materials have been prepared in
good faith on the basis of assumptions believed to be reasonable at the time of preparation of such
forecasts, and no representation or warranty is made as to the actual attainability of any such
projections, forecasts, estimates or forward-looking information.

ARTICLE V

COVENANTS OF THE BORROWER

Section 5.01 Affirmative Covenants. So long as any Advance shall remain unpaid, any
Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the
Borrower shall:

(a) Compliance with Laws, Etc. (i) Comply, and cause each of its Material
Subsidiaries to comply, in all material respects, with all applicable Laws of Governmental
Authorities, such compliance to include, without limitation, compliance with ERISA and
Environmental Laws, unless the failure to so comply is not reasonably likely to have a Material
Adverse Effect and (ii) comply at all times with all Laws, orders, decrees, writs, injunctions or
determinations of any Governmental Authority relating to the incurrence or maintenance of
Indebtedness by the Borrower, unless the failure to so comply is not reasonably likely to have a
Material Adverse Effect.

(b) Payment of Taxes, Etc. Pay and discharge, and cause each of its Material
Subsidiaries to pay and discharge, before the same shall become delinquent, all taxes, assessments
and governmental charges or levies imposed upon it or upon its property; provided,
however, that neither the Borrower nor any of its Subsidiaries shall be required to pay or
discharge any such tax, assessment, charge or levy (i) that is being contested in good faith and by
proper proceedings and as to which appropriate reserves are being maintained in accordance with
GAAP or (ii) if the failure to pay such tax, assessment, charge or levy is not reasonably likely to
have a Material Adverse Effect.

 

48

 

(c) Maintenance of Insurance. Maintain, and cause each of its Material Subsidiaries
to maintain, insurance with responsible and reputable insurance companies or associations in such
amounts and covering such risks as is usually carried by companies engaged in similar businesses
and owning similar properties in the same general areas in which the Borrower or such Subsidiary
operates; provided, however, that the Borrower and its Subsidiaries may self-insure
to the same extent as other companies engaged in similar businesses and owning similar properties
in the same general areas in which the Borrower or such Subsidiary operates and to the extent
consistent with prudent business practice.

(d) Preservation of Corporate Existence, Etc. Preserve and maintain, and cause each
of its Material Subsidiaries to preserve and maintain, its corporate existence, rights (charter and
statutory) and franchises (other than “franchises” as described in Arizona Revised Statutes,
Section 40-283 or any successor provision) reasonably necessary in the normal conduct of its
business, if the failure to maintain such rights or privileges is reasonably likely to have a
Material Adverse Effect, and, in the case of APS, will cause APS to use its commercially reasonable
efforts to preserve and maintain such franchises reasonably necessary in the normal conduct of its
business, except that (i) APS from time to time may make minor extensions of its lines, plants,
services or systems prior to the time a related franchise, certificate of convenience and
necessity, license or permit is procured, (ii) from time to time communities served by APS may
become incorporated and considerable time may elapse before such a franchise is procured, (iii)
certain such franchises may have expired prior to the renegotiation thereof, (iv) certain minor
defects and exceptions may exist which, individually and in the aggregate, are not material and
(v) certain franchises, certificates, licenses and permits may not be specific as to their
geographical scope; provided, however, that the Borrower and its Subsidiaries may
consummate any merger or consolidation permitted under Section 5.02(b).

(e) Visitation Rights. At any reasonable time and from time to time, permit and cause
each of its Subsidiaries to permit the Agent or any of the Lenders or any agents or representatives
thereof, to examine and make copies of and abstracts from the records and books of account of, and
visit the properties of, the Borrower and any of its Subsidiaries, and to discuss the affairs,
finances and accounts of the Borrower and any of its Subsidiaries with any of their officers or
directors; provided, however, that the Borrower and its Subsidiaries reserve the
right to restrict access to any of its properties in accordance with reasonably adopted procedures
relating to safety and security; and provided further that the costs and expenses
incurred by such Lender or agents or representatives in connection with any such examinations,
copies, abstracts, visits or discussions shall be, upon the occurrence and during the continuation
of a Default, for the account of the Borrower and, in all other circumstances, for the account of
such Lender.

(f) Keeping of Books. Keep, and cause each of its Material Subsidiaries to keep,
proper books of record and account, in which full and correct entries shall be made of all
financial transactions and the assets and business of the Borrower and each such Subsidiary in a
manner that permits the preparation of financial statements in accordance with GAAP.

(g) Maintenance of Properties, Etc. Keep, and cause each Material Subsidiary to keep,
all property useful and necessary in its business in good working order and condition (ordinary
wear and tear excepted), if the failure to do so is reasonably likely to have a Material

 

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Adverse Effect, it being understood that this covenant relates only to the working order and
condition of such properties and shall not be construed as a covenant not to dispose of properties.

(h) Reporting Requirements. Furnish to the Agent:

(i) as soon as available and in any event within 50 days after the end of each of the
first three fiscal quarters of each fiscal year of the Borrower, (A) for each such fiscal
quarter of the Borrower, statements of income and cash flows of the Borrower and its
Consolidated Subsidiaries for such fiscal quarter setting forth in each case in comparative
form the corresponding figures for the corresponding fiscal quarter in the preceding fiscal
year and (B) for the period commencing at the end of the previous fiscal year and ending
with the end of each fiscal quarter, statements of income and cash flows of the Borrower and
its Consolidated Subsidiaries for such period setting forth in each case in comparative form
the corresponding figures for the corresponding period in the preceding fiscal year;
provided that so long as the Borrower remains subject to the reporting requirements
of the Securities Exchange Act of 1934, as amended, the Borrower may provide, in
satisfaction of the requirements of this first sentence of this Section 5.01(h)(i), its
report on Form 10-Q for such fiscal quarter. Each set of financial statements provided
under this Section 5.01(h)(i) shall be accompanied by a certificate of an Authorized
Officer, which certificate shall state that said financial statements fairly present in all
material respects the financial condition and results of operations of the Borrower and its
Consolidated Subsidiaries in accordance with GAAP (except as disclosed therein) as at the
end of, and for, such period (subject to normal year-end audit adjustments) and shall set
forth reasonably detailed calculations demonstrating compliance with Section 5.03;

(ii) as soon as available and in any event within 90 days after the end of each fiscal
year of the Borrower, statements of income and cash flows of the Borrower and its
Consolidated Subsidiaries for such year and the related balance sheet of the Borrower and
its Consolidated Subsidiaries as at the end of such year, setting forth in each case in
comparative form the corresponding figures for the preceding fiscal year; provided
that, so long as the Borrower remains subject to the reporting requirements of the
Securities Exchange Act of 1934, as amended, the Borrower may provide, in satisfaction of
the requirements of this first sentence of this Section 5.01(h)(ii), its report on Form 10-K
for such fiscal year. Each set of financial statements provided pursuant to this Section
5.01(h)(ii) shall be accompanied by (A) an opinion thereon of independent certified public
accountants of recognized national standing, which opinion shall state that said financial
statements fairly present in all material respects the financial condition and results of
operations of the Borrower and its Consolidated Subsidiaries as at the end of, and for, such
fiscal year, in accordance with GAAP (except as disclosed therein) and (B) a certificate of
an Authorized Officer, which certificate shall set forth reasonably detailed calculations
demonstrating compliance with Section 5.03;

(iii) as soon as possible and in any event within five days after any Authorized
Officer of the Borrower knows of the occurrence of each Default continuing on the date of
such statement, a statement of an Authorized Officer of the Borrower setting forth

 

50

 

details of such Default and the action that the Borrower has taken and proposes to take
with respect thereto;

(iv) promptly after the sending or filing thereof, copies of all reports and
registration statements (other than exhibits thereto and registration statements on Form S-8
or its equivalent) that the Borrower or any Subsidiary files with the Securities and
Exchange Commission;

(v) promptly after an Authorized Officer becomes aware of the commencement thereof,
notice of all actions and proceedings before any court, governmental agency or arbitrator
affecting the Borrower or any of its Subsidiaries of the type described in Section 4.01(f),
except, with respect to any matter referred to in Section 4.01(f)(ii), to the extent
disclosed in a report on Form 8-K, Form 10-Q or Form 10-K of the Borrower;

(vi) promptly after an Authorized Officer becomes aware of the occurrence thereof,
notice of any change by Moody’s or S&P of their respective Public Debt Rating or of the
cessation (or subsequent commencement) by Moody’s or S&P of publication of their respective
Public Debt Rating;

(vii) the occurrence of any ERISA Event, together with (x) a written statement of an
Authorized Officer of the Borrower specifying the details of such ERISA Event and the action
that the Borrower has taken and proposes to take with respect thereto, (y) a copy of any
notice with respect to such ERISA Event that may be required to be filed with the PBGC and
(z) a copy of any notice delivered by the PBGC to the Borrower or an ERISA Affiliate with
respect to such ERISA Event; and

(viii) such other information respecting the Borrower or any of its Subsidiaries as any
Lender through the Agent may from time to time reasonably request.

Information required to be delivered pursuant to Sections 5.01(h)(i), (ii) and (iv) above
shall be deemed to have been delivered on the date on which the Borrower provides notice to the
Agent that such information has been posted on the Borrower’s website on the Internet at
www.pinnaclewest.com, at sec.gov/edaux/searches.htm or at another website identified in such notice
and accessible by the Lenders without charge; provided that (i) such notice may be included
in a certificate delivered pursuant to Section 5.01(h)(i) or (ii) and (ii) the Borrower shall
deliver paper copies of the information referred to in Section 5.01(h)(i), (ii), and (iv) to any
Lender which requests such delivery.

(i) Change in Nature of Business. Conduct directly or through its Subsidiaries the
same general type of business conducted by the Borrower and its Material Subsidiaries on the date
hereof.

Section 5.02 Negative Covenants. So long as any Advance shall remain unpaid, any
Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the
Borrower shall not:

 

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(a) Liens, Etc. Directly or indirectly create, incur, assume or permit to exist any
Lien securing Indebtedness for borrowed money on or with respect to any property or asset
(including, without limitation, the capital stock of APS) of the Borrower, whether now owned or
held or hereafter acquired (unless it makes, or causes to be made, effective provision whereby the
Obligations will be equally and ratably secured with any and all other obligations thereby secured
so long as such other Indebtedness shall be so secured, such security to be pursuant to an
agreement reasonably satisfactory to the Required Lenders); provided, however, that
this Section 5.02(a) shall not apply to Liens securing Indebtedness for borrowed money (other than
Indebtedness for borrowed money secured by the capital stock of APS) which do not in the aggregate
exceed at any time outstanding the principal amount of $50,000,000.

(b) Mergers, Etc. Merge or consolidate with or into any Person, or permit any of its
Material Subsidiaries to do so, except that (i) any Material Subsidiary of the Borrower may merge
or consolidate with or into any other Material Subsidiary of the Borrower, (ii) any Subsidiary of
the Borrower may merge into the Borrower or any Material Subsidiary of the Borrower and (iii) the
Borrower or any Material Subsidiary may merge with any other Person so long as the Borrower or such
Material Subsidiary is the surviving corporation, provided, in each case, that no Default
shall have occurred and be continuing at the time of such proposed transaction or would result
therefrom.

(c) Sales, Etc. of Assets. Sell, lease, transfer or otherwise dispose of, or permit
any of its Material Subsidiaries to sell, lease, transfer or otherwise dispose of, any assets, or
grant any option or other right to purchase, lease or otherwise acquire any assets to any Person
other than the Borrower or any Subsidiary of the Borrower, except (i) dispositions in the ordinary
course of business, including, without limitation, sales or other dispositions of electricity and
related and ancillary services, other commodities, emissions credits and similar mechanisms for
reducing pollution, and damaged, obsolete, worn out or surplus property no longer required or
useful in the business or operations of the Borrower or any of its Subsidiaries, (ii) sale or other
disposition of patents, copyrights, trademarks or other intellectual property that are, in the
Borrower’s reasonable judgment, no longer economically practicable to maintain or necessary in the
conduct of the business of the Borrower or its Subsidiaries and any license or sublicense of
intellectual property that does not interfere with the business of the Borrower or any Material
Subsidiary, (iii) in a transaction authorized by subsection (b) of this Section, (iv) individual
dispositions occurring in the ordinary course of business which involve assets with a book value
not exceeding $5,000,000, (v) sales of assets during the term of this Agreement having an aggregate
book value not to exceed 30% of the total of all assets properly appearing on the most recent
balance sheet of the Borrower provided pursuant to Section 4.01(e)(i) or 5.01(h)(ii) hereof and
(vi) any Lien permitted under Section 5.02(a).

(d) Ownership of APS. Except to the extent permitted under Section 5.02(b), the
Borrower will at all times continue to own directly or indirectly at least 80% of the outstanding
capital stock of APS.

Section 5.03 Financial Covenant. So long as any Advance shall remain unpaid, any
Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, the
Borrower will maintain a ratio of (a) Consolidated Indebtedness to (b) the sum of Consolidated
Indebtedness plus Consolidated Net Worth of not greater than 0.65 to 1.

 

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ARTICLE VI

EVENTS OF DEFAULT

Section 6.01 Events of Default. If any of the following events (“Events of
Default”) shall occur and be continuing:

(a) The Borrower shall fail to pay when due (i) any principal of any Advance, (ii) any drawing
under any Letter of Credit, or (iii) any interest on any Advance or any other fees or other amounts
payable under this Agreement or any other Loan Documents, and (in the case of this clause (iii)
only), such failure shall continue for a period of three Business Days; or

(b) Any representation or warranty made by the Borrower herein or by the Borrower (or any of
its officers) in any certificate or other document delivered in connection with this Agreement or
any other Loan Document shall prove to have been incorrect in any material respect when made or
deemed made or furnished; or

(c) (i) The Borrower shall fail to perform or observe any term, covenant or agreement
contained in Section 5.01(d) (as to the corporate existence of the Borrower), (h)(iii) or (h)(vi),
5.02 or 5.03, or (ii) the Borrower shall fail to perform or observe any other term, covenant or
agreement contained in Section 5.01(e) if such failure shall remain unremedied for 15 days after
written notice thereof shall have been given to the Borrower by the Agent or any Lender or (iii)
the Borrower shall fail to perform or observe any other term, covenant or agreement contained in
this Agreement or any other Loan Document on its part to be performed or observed if such failure
shall remain unremedied for 30 days after written notice thereof shall have been given to the
Borrower by the Agent or any Lender; or

(d) (i) The Borrower or any of its Material Subsidiaries shall fail to pay (A) any principal
of or premium or interest on any Indebtedness that is outstanding in a principal amount of at least
$35,000,000 in the aggregate (but excluding Indebtedness outstanding hereunder), or (B) an amount,
or post collateral as contractually required in an amount, of at least $35,000,000 in respect of
any Hedge Agreement, of the Borrower or such Material Subsidiary (as the case may be), in each
case, when the same becomes due and payable (whether by scheduled maturity, required prepayment,
acceleration, demand or otherwise), and such failure shall continue after the applicable grace
period, if any, specified in the agreement or instrument relating to such Indebtedness or Hedge
Agreement; or (ii) any event of default shall exist under any agreement or instrument relating to
any such Indebtedness and shall continue after the applicable grace period, if any, specified in
such agreement or instrument, if the effect of such event is to accelerate, or to permit the
acceleration of, the maturity of such Indebtedness; or

(e) The Borrower or any of its Material Subsidiaries shall fail to pay any principal of or
premium or interest in respect of any operating lease in respect of which the payment obligations
of the Borrower have a present value of at least $35,000,000, when the same becomes due and payable
(whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such
failure shall continue after the applicable grace period, if any, specified in such operating
lease, if the effect of such failure is to terminate, or to permit the termination of, such
operating lease; or

 

53

 

(f) The Borrower or any of its Material Subsidiaries shall generally not pay its debts as such
debts become due, or shall admit in writing its inability to pay its debts generally, or shall make
a general assignment for the benefit of creditors; or any proceeding shall be instituted by or
against the Borrower or any of its Material Subsidiaries seeking to adjudicate it a bankrupt or
insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection,
relief, or composition of it or its debts under any Debtor Relief Law, or seeking the entry of an
order for relief or the appointment of a receiver, trustee, custodian or other similar official for
it or for any substantial part of its property and, in the case of any such proceeding instituted
against it (but not instituted by it), either such proceeding shall remain undismissed or unstayed
for a period of 60 days, or any of the actions sought in such proceeding (including, without
limitation, the entry of an order for relief against, or the appointment of a receiver, trustee,
custodian or other similar official for, it or for any substantial part of its property) shall
occur; or the Borrower or any of its Material Subsidiaries shall take any corporate action to
authorize any of the actions set forth above in this subsection (f); or

(g) Judgments or orders for the payment of money that exceeds any applicable insurance
coverage (the insurer of which shall be rated at least “A” by A.M. Best Company) by more than
$35,000,000 in the aggregate shall be rendered against the Borrower or any Material Subsidiary and
such judgments or orders shall continue unsatisfied or unstayed for a period of 45 days; or

(h) (i) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its
subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary
or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934), directly or indirectly, of 30% or more of the
equity securities of the Borrower entitled to vote for members of the board of directors of the
Borrower; or (ii) during any period of 24 consecutive months, a majority of the members of the
board of directors of the Borrower cease (other than due to death or disability) to be composed of
individuals (A) who were members of that board on the first day of such period, (B) whose election
or nomination to that board was approved by individuals referred to in clause (A) above
constituting at the time of such election or nomination at least a majority of that board or (C)
whose election or nomination to that board was approved by individuals referred to in clauses (A)
and (B) above constituting at the time of such election or nomination at least a majority of that
board; or

(i) (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has
resulted or could reasonably be expected to result in liability of the Borrower under Title IV of
ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of
$35,000,000, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the
expiration of any applicable grace period, any installment payment with respect to its withdrawal
liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess
of $35,000,000;

then, and in any such event, the Agent shall at the request, or may with the consent, of the
Required Lenders, by notice to the Borrower, (i) declare the obligation of each Lender to make
Advances (other than L/C Advances) and of the Issuing Banks to issue Letters of Credit to be

 

54

 

terminated, whereupon the same shall forthwith terminate, (ii) declare the Advances, all interest
thereon and all other amounts payable under this Agreement to be forthwith due and payable,
whereupon the Advances, all such interest and all such amounts shall become and be forthwith due
and payable, without presentment, demand, protest or further notice of any kind, all of which are
hereby expressly waived by the Borrower; provided, however, that in the event of an
actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy
Code of the United States, (A) the obligation of each Lender to make Advances (other than L/C
Advances) and of the Issuing Banks to issue Letters of Credit shall automatically be terminated and
(B) the Advances, all such interest and all such amounts shall automatically become and be due and
payable, without presentment, demand, protest or any notice of any kind, all of which are hereby
expressly waived by the Borrower and (iii) exercise all rights and remedies available to it under
this Agreement, the other Loan Documents and applicable Law.

Section 6.02 Actions in Respect of Letters of Credit upon Default. If any Event of
Default shall have occurred and be continuing, the Agent may with the consent, or shall at the
request, of the Required Lenders, irrespective of whether it is taking any of the actions described
in Section 6.01 or otherwise, (a) make demand upon the Borrower to, and forthwith upon such demand
the Borrower will Cash Collateralize the aggregate Available Amount of all Letters of Credit then
outstanding (whether or not any beneficiary under any Letter of Credit shall have drawn or be
entitled at such time to draw thereunder) or (b) make such other arrangements in respect of the
outstanding Letters of Credit as shall be acceptable to the Required Lenders, provided,
however, that in the event of an actual or deemed entry of an order for relief with respect
to the Borrower under the Bankruptcy Code of the United States, the Borrower will Cash
Collateralize the aggregate Available Amount of all Letters of Credit then outstanding, without
presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by
the Borrower. If at any time the Agent determines that any funds held in the L/C Cash Deposit
Account are subject to any right or interest of any Person other than the Agent, the Issuing Banks
and the Lenders or that the total amount of such funds is less than the aggregate Available Amount
of all Letters of Credit, the Borrower will, forthwith upon demand by the Agent, pay to the Agent,
as additional funds to be deposited and held in the L/C Cash Deposit Account, an amount equal to
the excess of (a) such aggregate Available Amount over (b) the total amount of funds, if any, then
held in the L/C Cash Deposit Account that are free and clear of any such right and interest. Upon
the drawing of any Letter of Credit, to the extent funds are on deposit in the L/C Cash Deposit
Account, such funds shall be applied to reimburse the Issuing Banks to the extent permitted by
applicable Law, or each Lender to the extent such Lender has funded an Advance in respect of such
Letter of Credit. The Borrower hereby grants to the Agent, for the benefit of the Issuing Banks
and the Lenders, a Lien upon and security interest in the L/C Cash Deposit Account and all amounts
held therein from time to time as security for the L/C Obligations, and for application to the
Borrower’s reimbursement obligations as and when the same shall arise. The Agent shall have
exclusive dominion and control, including the exclusive right of withdrawal, over such account.
After all such Letters of Credit shall have expired or been fully drawn upon and all other
obligations of the Borrower hereunder and under the other Loan Documents shall have been paid in
full, the balance, if any, in such L/C Cash Deposit Account shall be promptly returned to the
Borrower.

 

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ARTICLE VII

THE AGENT

Section 7.01 Appointment and Authority. Each of the Lenders (for purposes of this
Article, references to the Lenders shall also mean the Issuing Banks) hereby irrevocably appoints
Bank of America to act on its behalf as the Agent hereunder and under the other Loan Documents and
authorizes the Agent to take such actions on its behalf and to exercise such powers as are
delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are
reasonably incidental thereto. Except as set forth in Section 7.06, the provisions of this Article
are solely for the benefit of the Agent and the Lenders, and neither the Borrower nor any of its
Affiliates shall have rights as a third party beneficiary of any of such provisions.

Section 7.02 Rights as a Lender. The Person serving as the 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 Agent and the term “Lender” or “Lenders” shall, unless otherwise
expressly indicated or unless the context otherwise requires, include the Person serving as the
Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits
from, lend money to, act as the financial advisor or in any other advisory capacity for and
generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate
thereof as if such Person were not the Agent hereunder and without any duty to account therefor to
the Lenders.

Section 7.03 Exculpatory Provisions. The Agent shall not have any duties or
obligations except those expressly set forth herein and in the other Loan Documents. Without
limiting the generality of the foregoing, the Agent:

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

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

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

The Agent shall not be liable for any action taken or not taken by it (i) with the consent or
at the request of the Required Lenders (or such other number or percentage of the Lenders as shall
be necessary, or as the Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Section 6.01 and 8.01) or (ii) in the absence of its own gross

 

56

 

negligence or willful misconduct. The Agent shall be deemed not to have knowledge of any
Default unless and until notice describing such Default is given to the Agent by the Borrower or a
Lender.

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

Section 7.04 Reliance by Agent. The Agent shall be entitled to rely upon, and shall
not incur any liability for relying upon, any notice, request, certificate, consent, statement,
instrument, document or other writing (including any electronic message, internet or intranet
website posting or other distribution) believed by it to be genuine and to have been signed, sent
or otherwise authenticated by the proper Person. The Agent also may rely upon any statement made
to it orally or by telephone and believed by it to have been made by the proper Person, and shall
not incur any liability for relying thereon. In determining compliance with any condition
hereunder to the making of any Advance, or the issuance of a Letter of Credit, that by its terms
must be fulfilled to the satisfaction of a Lender or an Issuing Bank, the Agent may presume that
such condition is satisfactory to such Lender or such Issuing Bank unless the Agent shall have
received notice to the contrary from such Lender or such Issuing Bank prior to the making of such
Advance or the issuance of such Letter of Credit. The 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 good faith in accordance with the
advice of any such counsel, accountants or experts.

Section 7.05 Delegation of Duties. The Agent may perform any and all of its duties
and exercise its rights and powers hereunder or under any other Loan Document by or through any one
or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any and
all of its duties and exercise its rights and powers by or through their respective Related
Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the
Related Parties of the 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 Agent.

Section 7.06 Resignation of Agent. The Agent may at any time give notice of its
resignation to the Lenders and the Borrower. Upon receipt of any such notice of resignation, the
Required Lenders shall have the right, with the consent of the Borrower so long as no Event of
Default has occurred and is continuing, to appoint a successor, which shall be a bank with an
office in the United States, or an Affiliate of any such bank with an office in the United States.
If no such successor shall have been so appointed by the Required Lenders and shall have accepted
such appointment within 45 days after the retiring Agent gives notice of its resignation, then the
retiring Agent may, on behalf of the Lenders, appoint a successor Agent meeting the

 

57

 

qualifications set forth above; provided that if the Agent shall notify the Borrower
and the Lenders that no qualifying Person has accepted such appointment, then such resignation
shall nonetheless become effective in accordance with such notice and (1) the retiring Agent shall
be discharged from its duties and obligations hereunder and under the other Loan Documents (except
that in the case of any collateral security held by the Agent on behalf of the Lenders under any of
the Loan Documents, the retiring Agent shall continue to hold such collateral security until such
time as a successor Agent is appointed) and (2) all payments, communications and determinations
provided to be made by, to or through the Agent shall instead be made by or to each Lender
directly, until such time as the Required Lenders appoint a successor Agent as provided for above
in this Section. Upon the acceptance of a successor’s appointment as Agent hereunder, such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties
of the retiring (or retired) Agent, and the retiring Agent shall be discharged from all of its
duties and obligations hereunder or under the other Loan Documents (if not already discharged
therefrom as provided above in this Section). The fees payable by the Borrower to a successor
Agent shall be as agreed between the Borrower and such successor. After the retiring Agent’s
resignation hereunder and under the other Loan Documents, the provisions of this Article and
Section 8.04 shall continue in effect for the benefit of such retiring Agent, its sub-agents and
their respective Related Parties in respect of any actions taken or omitted to be taken by any of
them while the retiring Agent was acting as Agent.

Section 7.07 Non-Reliance on Agent and Other Lenders. Each Lender acknowledges that
it has, independently and without reliance upon the Agent or any other Lender or any of their
Related Parties and based on such documents and information as it has deemed appropriate, made its
own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that
it will, independently and without reliance upon the Agent or any other Lender or any of their
Related Parties and based on such documents and information as it shall from time to time deem
appropriate, continue to make its own decisions in taking or not taking action under or based upon
this Agreement, any other Loan Document or any related agreement or any document furnished
hereunder or thereunder.

Section 7.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding,
none of the Arrangers, Syndication Agent, Documentation Agent or other agents listed on the cover
page hereof shall have any powers, duties or responsibilities under this Agreement or any of the
other Loan Documents, except in its capacity, as applicable, as the Agent or a Lender hereunder.

Section 7.09 Issuing Banks. Each Issuing Bank shall act on behalf of the Lenders with
respect to any Letters of Credit issued by it and the documents associated therewith, and each
Issuing Bank shall have all of the benefits and immunities provided in this Article VII (other than
Section 7.02) to the same extent as such provisions apply to the Agent.

 

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ARTICLE VIII

MISCELLANEOUS

Section 8.01 Amendments, Etc. No amendment or waiver of any provision of this
Agreement or any other Loan Document, nor consent to any departure by the Borrower therefrom, shall
in any event be effective unless the same shall be in writing and signed by the Required Lenders,
and then such waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given; provided, however, that no amendment, waiver or
consent shall

(a) unless agreed to by each Lender directly affected thereby, (i) reduce or forgive the
principal amount of any Advance or the Borrower’s obligations to reimburse any drawing on a Letter
of Credit, reduce the rate of or forgive any interest thereon (provided that only the
consent of the Required Lenders shall be required to waive the applicability of any post-default
increase in interest rates), or reduce or forgive any fees hereunder (other than fees payable to
the Agent, the Arrangers or any Issuing Bank for their own respective accounts), (ii) extend the
final scheduled maturity date or any other scheduled date for the payment of any principal of or
interest on any Advance, extend the time of payment of any obligation of the Borrower to reimburse
any drawing on any Letter of Credit or any interest thereon, extend the expiry date of any Letter
of Credit beyond the fifth Business Day prior to the Termination Date, or extend the time of
payment of any fees hereunder (other than fees payable to the Agent, the Arrangers or any Issuing
Bank for their own respective accounts), or (iii) increase any Revolving Credit Commitment of any
such Lender over the amount thereof in effect or extend the maturity thereof (it being understood
that a waiver of any condition precedent set forth in Section 3.02 or of any Default, if agreed to
by the Required Lenders or all Lenders (as may be required hereunder with respect to such waiver),
shall not constitute such an increase);

(b) unless agreed to by all of the Lenders, (i) reduce the percentage of the aggregate
Revolving Credit Commitments or of the aggregate unpaid principal amount of the Advances, or the
number or percentage of Lenders, that shall be required for the Lenders or any of them to take or
approve, or direct the Agent to take, any action hereunder or under any other Loan Document
(including as set forth in the definition of “Required Lenders”), (ii) change any other provision
of this Agreement or any of the other Loan Documents requiring, by its terms, the consent or
approval of all the Lenders for such amendment, modification, waiver, discharge, termination or
consent, or (iii) change or waive any provision of Section 2.15, any other provision of this
Agreement or any other Loan Document requiring pro rata treatment of any Lenders, or this Section
8.01 or Section 2.19(b); and

(c) unless agreed to by the Issuing Banks or the Agent in addition to the Lenders required as
provided hereinabove to take such action, affect the respective rights or obligations of the
Issuing Banks or the Agent, as applicable, hereunder or under any of the other Loan Documents.

Section 8.02 Notices, Etc.

 

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(a) All notices and other communications provided for hereunder shall be either (x) in writing
(including facsimile communication) and mailed, faxed or delivered or (y) as and to the extent set
forth in Sections 8.02(b) and (c) and in the proviso to this Section 8.02(a), if to the Borrower,
at the address specified on Schedule 8.02; if to any Lender, at its Domestic Lending
Office; if to the Agent, at the address specified on Schedule 8.02; and if to any Issuing
Bank, at the address specified on Schedule 8.02 or, as to the Borrower or the Agent, at
such other address as shall be designated by such party in a written notice to the other parties
and, as to each other party, at such other address as shall be designated by such party in a
written notice to the Borrower and the Agent. All such notices and communications shall, when
mailed or faxed, be effective when deposited in the mails or faxed, respectively, except that
notices and communications to the Agent pursuant to Article II, III or VII shall not be effective
until received by the Agent. Delivery by facsimile of an executed counterpart of any amendment or
waiver of any provision of this Agreement or the Notes or of any Exhibit hereto to be executed and
delivered hereunder shall be effective as delivery of a manually executed counterpart thereof.
Notices delivered through electronic communications to the extent provided in subsection (b) below,
shall be effective as provided in such subsection (b). Upon request of the Borrower, the Agent
will provide to the Borrower (i) copies of each Administrative Questionnaire or (ii) the address of
each Lender.

(b) Notices and other communications to the Lenders, the Agent and the Issuing Banks hereunder
may be delivered or furnished by electronic communication (including e-mail and Internet or
intranet websites) pursuant to procedures approved by the Agent and agreed to by the Borrower,
provided that the foregoing shall not apply to notices to any Lender or the Issuing Banks
pursuant to Article II if such Lender or the Issuing Banks, as applicable, has notified the
Agent and the Borrower that it is incapable of receiving notices under such Article by electronic
communication. The Agent or the Borrower may, in its discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to procedures approved by it,
provided that approval of such procedures may be limited to particular notices or
communications. Unless the Agent and the Borrower otherwise agree, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an
acknowledgement from the intended recipient (such as by the “return receipt requested” function, as
available, return e-mail or other written acknowledgement), provided that if such notice or
other communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next business day
for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor.

(c) The Borrower agrees that the Agent may make materials delivered to the Agent pursuant to
Sections 5.01(h)(i), (ii) and (iv), as well as any other written information, documents,
instruments and other material relating to the Borrower or any of its Subsidiaries and relating to
this Agreement, the Notes or the transactions contemplated hereby, or any other materials or
matters relating to this Agreement, the Notes or any of the transactions contemplated hereby
(collectively, the “Communications”) available to the Lenders by posting such notices on
Intralinks or a substantially similar electronic system (the “Platform”). The Borrower
acknowledges that (i) the distribution of material through an electronic medium is not necessarily

 

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secure and that there are confidentiality and other risks associated with such distribution,
(ii) the Platform is provided “as is” and “as available” and (iii) neither the Agent nor any of its
Affiliates warrants the accuracy, adequacy or completeness of the Communications or the Platform
and each expressly disclaims liability for errors or omissions in the Communications or the
Platform. No warranty of any kind, express, implied or statutory, including, without limitation,
any warranty of merchantability, fitness for a particular purpose, non-infringement of third party
rights or freedom from viruses or other code defects, is made by the Agent or any of its Affiliates
in connection with the Platform.

(d) Each Lender agrees that notice to it (as provided in the next sentence) (a
“Notice”) specifying that any Communications have been posted to the Platform shall
constitute effective delivery of such information, documents or other materials to such Lender for
purposes of this Agreement; provided that if requested by any Lender the Agent shall
deliver a copy of the Communications to such Lender by e-mail, facsimile or mail. Each Lender
agrees (i) to notify the Agent in writing of such Lender’s e-mail address to which a Notice may be
sent by electronic transmission (including by electronic communication) on or before the date such
Lender becomes a party to this Agreement (and from time to time thereafter to ensure that the Agent
has on record an effective e-mail address for such Lender) and (ii) that any Notice may be sent to
such e-mail address.

(e) The Borrower hereby acknowledges that certain of the Lenders may be “public-side” Lenders
(i.e., Lenders that do not wish to receive material non-public information with respect to the
Borrower or its securities) (each, a “Public Lender”). The Borrower hereby agrees that (w)
all Communications that are to be made available to Public Lenders shall be clearly and
conspicuously marked “PUBLIC” which shall mean that the word “PUBLIC” shall appear prominently on
the first page thereof; (x) by marking Communications “PUBLIC,” the Borrower shall be deemed to
have authorized the Agent, the Arranger and the Lenders to treat such Communications as not
containing any material non-public information with respect to the Borrower or its securities for
purposes of United States federal and state securities laws; (y) all Communications marked “PUBLIC”
are permitted to be made available through a portion of the Platform designated as “Public
Investor;” and (z) the Agent and the Arranger shall be entitled to treat any Communications that
are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not marked
as “Public Investor.” Notwithstanding the foregoing, the Borrower shall be under no obligation to
mark any Communications “PUBLIC.” Notwithstanding anything to the contrary herein, the Borrower
need not provide to any Public Lender any information, notice, or other document hereunder that is
not public information, including without limitation, the Notice of Borrowing and any notice of
Default.

Section 8.03 No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender,
any Issuing Bank or the Agent to exercise, and no delay by any such Person in exercising, any
right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single
or partial exercise of any right, remedy, power or privilege hereunder preclude any other or
further exercise thereof or the exercise of any other right, remedy, power or privilege. The
rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any
rights, remedies, powers and privileges provided by Law.

 

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Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the
Borrower shall be vested exclusively in, and all actions and proceedings at Law in connection with
such enforcement shall be instituted and maintained exclusively by, the Agent in accordance with
Article VI for the benefit of all the Lenders and the Issuing Banks; provided,
however, that the foregoing shall not prohibit (a) the Agent from exercising on its own
behalf the rights and remedies that inure to its benefit (solely in its capacity as Agent)
hereunder and under the other Loan Documents, (b) any Issuing Bank from exercising the rights and
remedies that inure to its benefit (solely in its capacity as an Issuing Bank) hereunder and under
the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section
8.05 (subject to the terms of Section 2.15), or (d) any Lender from filing proofs of claim or
appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to
the Borrower under any Debtor Relief Law; and provided, further, that if at any
time there is no Person acting as Agent hereunder and under the other Loan Documents, then (i) the
Required Lenders shall have the rights otherwise ascribed to the Agent pursuant to Article VI and
(ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and
subject to Section 2.15, any Lender may, with the consent of the Required Lenders, enforce any
rights and remedies available to it and as authorized by the Required Lenders.

Section 8.04 Costs and Expenses; Indemnity; Damage Waiver.

(a) The Borrower agrees to pay on demand all costs and expenses of the Agent in connection
with the administration, modification and amendment of this Agreement, the Notes and the other Loan
Documents to be delivered hereunder, including, without limitation, the reasonable fees and
expenses of counsel for the Agent with respect thereto and with respect to advising the Agent as to
its rights and responsibilities under this Agreement. The Borrower further agrees to pay on demand
all costs and expenses of the Agent and the Lenders, if any (including, without limitation,
reasonable counsel fees and expenses), in connection with the enforcement (whether through
negotiations, legal proceedings or otherwise) of this Agreement, the Notes and the other Loan
Documents to be delivered hereunder, including, without limitation, reasonable fees and expenses of
counsel for the Agent and each Lender in connection with the enforcement of rights under this
Section 8.04(a).

(b) The Borrower agrees to indemnify and hold harmless the Agent (and any sub-agent thereof),
each Lender, and each Related Party of any of the foregoing (each, an “Indemnified Party”)
from and against any and all claims, damages, losses, liabilities and expenses (including, without
limitation, reasonable fees and expenses of counsel) incurred by or asserted or awarded against any
Indemnified Party, in each case arising out of or in connection with or by reason of (including,
without limitation, in connection with any investigation, litigation or proceeding or preparation
of a defense in connection therewith, whether based on contract, tort or any other theory,) (i) the
Notes, this Agreement, any of the transactions contemplated herein or the actual or proposed use of
the proceeds of any Advance or Letter of Credit (including any refusal by any 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), or (ii) the actual or
alleged presence of Hazardous Materials on any property of the Borrower or any of its Subsidiaries
or any Environmental Action relating in any way to the Borrower or any of its Subsidiaries,
provided that such indemnity shall not, as

 

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to any Indemnified Party, be available to the extent (a) such fees and expenses are expressly
stated in this Agreement to be payable by the Indemnified Party, included expenses payable under
Section 2.14, Section 5.01(e) and Section 8.07(b) or (b) such claim, damage, loss, liability or
expense is found in a final, non-appealable judgment by a court of competent jurisdiction to have
resulted from such Indemnified Party’s gross negligence, willful misconduct or material breach of
its obligations under this Agreement, in which case any fees and expenses previously paid or
advanced by the Borrower to such Indemnified Party in respect of such indemnified obligation will
be returned by such Indemnified Party. In the case of an investigation, litigation or other
proceeding to which the indemnity in this Section 8.04(b) applies, such indemnity shall be
effective whether or not such investigation, litigation or proceeding is brought by the Borrower,
its directors, equityholders or creditors or an Indemnified Party or any other Person, whether or
not any Indemnified Party is otherwise a party thereto, and whether or not the transactions
contemplated hereby are consummated, provided that if the Borrower and such Indemnified
Party are adverse parties in any such litigation or proceeding, and the Borrower prevails in a
final, non-appealable judgment by a court of competent jurisdiction, any fees or expenses
previously paid or advanced by the Borrower to such Indemnified Party pursuant to this Section
8.04(b) will be returned by such Indemnified Party.

(c) To the extent that the Borrower for any reason fails to indefeasibly pay any amount
required under subsection (a) or (b) of this Section to be paid by it to the Agent (or any
sub-agent thereof), any Issuing Bank or any Related Party of any of the foregoing (and without
limiting its obligation to do so), each Lender severally agrees to pay to the Agent (or any such
sub-agent), such Issuing Bank or such Related Party, 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) 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 Agent (or any such sub-agent) or such Issuing Bank in its capacity as such, or against
any Related Party of any of the foregoing acting for the Agent (or any such sub-agent) or such
Issuing Bank in connection with such capacity.

(d) Each party hereto also agrees not to assert any claim for special, indirect, consequential
or punitive damages against the other parties hereto, or any Related Person any party hereto, on
any theory of liability, arising out of or otherwise relating to the Notes, this Agreement, any of
the transactions contemplated herein or the actual or proposed use of the proceeds of the Advances
or the Letters of Credit. No Indemnified Party shall be liable for any damages arising from the
use by unintended recipients of any information or other materials distributed by it through
telecommunications, electronic or other information transmission systems (including Intralinks,
SyndTrak or similar systems) in connection with this Agreement or the other Loan Documents,
provided that such indemnity shall not, as to any Indemnified Party, be available to the extent
such damages are found in a final, non-appealable judgment by a court of competent jurisdiction to
have resulted from such Indemnified Party’s gross negligence or willful misconduct.

(e) If any payment of principal of, or Conversion of, any Eurodollar Rate Advance is made by
the Borrower to or for the account of a Lender other than on the last day of the Interest Period
for such Advance, as a result of a payment or Conversion pursuant to Section 2.08(d) or (e), 2.10
or 2.12, acceleration of the maturity of the Advances pursuant to Section 6.01 or for any

 

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other reason, or by an Eligible Assignee to a Lender other than on the last day of the
Interest Period for such Advance upon an assignment of rights and obligations under this Agreement
pursuant to Section 8.07 as a result of a demand by the Borrower pursuant to Section 8.07(a), the
Borrower shall, upon demand by such Lender (with a copy of such demand to the Agent), pay to the
Agent for the account of such Lender any amounts required to compensate such Lender for any
additional losses, costs or expenses that it may reasonably incur as a result of such payment or
Conversion, including, without limitation, any loss (excluding loss of anticipated profits), cost
or expense incurred by reason of the liquidation or reemployment of deposits or other funds
acquired by any Lender to fund or maintain such Advance.

(f) Without prejudice to the survival of any other agreement of the Borrower hereunder, the
agreements and obligations of the Borrower contained in Sections 2.11, 2.14 and 8.04 shall survive
the payment in full of principal, interest and all other amounts payable hereunder and under the
Notes.

Section 8.05 Right of Set-off. Upon (i) the occurrence and during the continuance of
any Event of Default and (ii) the making of the request or the granting of the consent specified by
Section 6.01 to authorize the Agent to declare the Advances due and payable pursuant to the
provisions of Section 6.01, each Lender, each Issuing Bank and each of their respective 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 indebtedness at any time owing by such Lender, such Issuing Bank or any
such Affiliate to or for the credit or the account of the Borrower against any and all of the
obligations of the Borrower now or hereafter existing under this Agreement or any other Loan
Document to such Lender or Issuing Bank, whether or not such Lender or Issuing Bank shall have made
any demand under this Agreement or such Note and although such obligations may be contingent or
unmatured or are owed to a branch or office of such Lender or such Issuing Bank different from the
branch or office holding such deposit or obligated on such indebtedness. Each Lender and each
Issuing Bank agrees promptly to notify the Borrower after any such set-off and application,
provided that the failure to give such notice shall not affect the validity of such set-off
and application. The rights of each Lender and each Issuing Bank under this Section are in
addition to other rights and remedies (including, without limitation, other rights of set-off) that
such Lender may have.

Section 8.06 Binding Effect. Except as provided in Section 3.01, this Agreement shall
become effective when it shall have been executed by the Borrower and the Agent and when the Agent
shall have been notified by each Initial Lender that such Initial Lender has executed it and
thereafter shall be binding upon and inure to the benefit of the Borrower, the Agent and each
Lender and their respective successors and assigns, except that the Borrower shall not have the
right to assign its rights hereunder or any interest herein without the prior written consent of
the Lenders.

Section 8.07 Successors and Assigns.

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that the
Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without

 

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the prior written consent of the Agent and each Lender (and any purported assignment or
transfer without such consent shall be null and void) and no Lender may assign or otherwise
transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with
the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with
the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of subsection (f) of this Section. Nothing in this
Agreement, expressed or implied, shall be construed to confer upon any Person (other than the
parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby,
the Related Parties of each of the Agent, the Issuing Banks and the Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement.

(b) Any Lender may at any time 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 Revolving Credit Commitment
and the Advances (including for purposes of this subsection (b), participations in L/C Obligations)
at the time owing to it); provided that any such assignment shall be subject to the
following conditions:

(i) Minimum Amounts.

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

(B) in any case not described in subsection (b)(i)(A) of this Section, the
aggregate amount of the Revolving Credit Commitment (which for this purpose includes
Advances outstanding thereunder) or, if the Revolving Credit Commitment is not then
in effect, the principal outstanding balance of the Advances of the assigning Lender
subject to each such assignment, determined as of the date the Assignment and
Assumption with respect to which such assignment is delivered to the Agent or, if
“Trade Date” is specified in the Assignment and Assumption, as of the Trade Date,
shall not be less than $5,000,000 unless each of the Agent and, so long as no Event
of Default has occurred and is continuing, the Borrower otherwise consents (each
such consent not to be unreasonably withheld or delayed).

(ii) Proportionate Amounts. 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 with respect to the Advances, L/C Obligations or the Revolving Credit
Commitment assigned, and each such assignment shall be of a constant, and not a varying,
percentage of all rights and obligations under this Agreement;

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

 

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(A) the consent of the Borrower (such consent not to be unreasonably withheld
or delayed) shall be required unless (1) an Event of Default has occurred and is
continuing at the time of such assignment or (2) such assignment is to a Lender, an
Affiliate of a Lender or an Approved Fund;

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

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

(iv) Assignment and Assumption. The parties to each assignment shall execute
and deliver to the Agent an Assignment and Assumption, together with a processing and
recordation fee in the amount of $3,500; provided, however, that no such fee
shall be payable in the case of an assignment made at the request of the Borrower to an
existing Lender. The assignee, if it is not a Lender, shall deliver to the Agent an
Administrative Questionnaire.

(v) No Assignment to Borrower. No such assignment shall be made to the
Borrower or any of the Borrower’s Affiliates or Subsidiaries.

(vi) No Assignment to Natural Persons. No such assignment shall be made to a
natural person.

Subject to acceptance and recording thereof by the Agent pursuant to subsection (c) of this
Section and notice thereof to the Borrower, from and after the effective date specified in each
Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the
extent of the interest assigned by such Assignment and Assumption, have the rights and obligations
of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the
interest assigned by such Assignment and Assumption, be released from its obligations under this
Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but
shall continue to be entitled to the benefits of Sections 2.11, 2.14 and 8.04 with respect to facts
and circumstances occurring prior to the effective date of such assignment. Upon request, the
Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not comply with
this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a
participation in such rights and obligations in accordance with subsection (d) of this Section.

(c) Register. The Agent shall maintain at the Agent’s Office a copy of each
Assignment and Assumption delivered to it and a register for the recordation of the names and
addresses of the Lenders, and the Revolving Credit Commitments of, and principal amounts of

 

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the Advances and L/C Obligations owing to, each Lender pursuant to the terms hereof from time
to time (the “Register”). The entries in the Register shall be conclusive, absent manifest
error, and the Borrower, the Agent and the Lenders may treat each Person whose name is recorded in
the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. The Register shall be available for inspection by the
Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice.

(d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower or the Agent, sell participations to any Person (other than a natural person or the
Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in
all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or
a portion of its Revolving Credit Commitment and/or the Advances (including such Lender’s
participations in L/C Obligations) owing to it); provided that (i) such Lender’s
obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations, (iii) the
Borrower, the Agent, the Lenders and the Issuing Banks shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement and
(iv) no participant under any such participation shall have any right to approve any amendment or
waiver of any provision of this Agreement or any Note, or any consent to any departure by the
Borrower therefrom, except to the extent that such amendment, waiver or consent would reduce the
principal of, or interest on, any Obligations or any fees or other amounts payable hereunder, in
each case to the extent subject to such participation, or postpone any date fixed for any payment
of principal of, or interest on, any Obligations or any fees or other amounts payable hereunder, in
each case to the extent subject to such participation.

Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such
agreement or instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, waiver or other modification addressing the matters set forth
in clause (iv) above to the extent subject to such participation. Subject to subsection (e) of
this Section, the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 2.11, 2.14 and 8.04(e) to the same extent as if it were a Lender and had acquired its
interest by assignment pursuant to subsection (b) of this Section. To the extent permitted by Law,
each Participant also shall be entitled to the benefits of Section 8.05 as though it were a Lender,
provided such Participant agrees to be subject to Section 2.15 as though it were a Lender.

(e) Limitations upon Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 2.11 or 2.14 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 2.14 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
2.14(e) as though it were a Lender.

 

67

 

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

(g) Resignation as an Issuing Bank after Assignment. Notwithstanding anything to the
contrary contained herein, if at any time any Issuing Bank assigns all of its Revolving Credit
Commitment and Advances pursuant to subsection (b) above, such Issuing Bank may, upon 30 days’
notice to the Borrower and the Lenders, resign as an Issuing Bank. If any Issuing Bank resigns, it
shall retain all the rights, powers, privileges and duties of an Issuing Bank hereunder with
respect to all Letters of Credit outstanding as of the effective date of its resignation as an
Issuing Bank and all L/C Obligations with respect thereto (including the right to require the
Lenders to make Base Rate Advances or fund risk participations in Unreimbursed Amounts pursuant to
Section 2.03(c)).

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

Section 8.08 Confidentiality. Neither the Agent nor any Lender may disclose to any
Person any confidential, proprietary or non-public information of the Borrower furnished to the
Agent or the Lenders by the Borrower (such information being referred to collectively herein as the
“Borrower Information”), except that each of the Agent and each of the Lenders may disclose
Borrower Information (i) to its and its affiliates’ employees, officers, directors, agents and
advisors having a need to know in connection with this Agreement (it being understood that the
Persons to whom such disclosure is made will be informed of the confidential nature of such
Borrower Information and instructed to keep such Borrower Information confidential on substantially
the same terms as provided herein), (ii) to the extent requested by any regulatory authority, (iii)
to the extent required by applicable Laws or regulations or by any subpoena or similar legal
process, (iv) to any other party to this Agreement, (v) 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, (vi) subject to an agreement containing provisions substantially the same as
those of this Section 8.08, to any assignee or participant or prospective assignee or participant,
(vii) to the extent such Borrower Information (A) is or becomes generally available to the public
on a non-confidential basis other than as a result of a breach of this Section 8.08 by the Agent or
such Lender or their Related Parties, or (B) is or becomes available to the Agent or such Lender on
a nonconfidential basis from a source other than the Borrower (provided that the source of such
information was not known by the recipient after inquiry to be bound by a confidentiality agreement
with or other contractual, legal or fiduciary obligation of confidentiality to the Borrower or any
other Person with respect to such information) and (viii)

 

68

 

with the consent of the Borrower. The obligations under this Section 8.08 shall survive for
two calendar years after the date of the termination of this Agreement.

Section 8.09 Governing Law. This Agreement and the Notes shall be governed by, and
construed in accordance with, the Laws of the State of New York (including Sections 5-1401 and
5-1402 of the General Obligations Law but otherwise without regard to conflict of law principles).

Section 8.10 Counterparts; Integration; Effectiveness. This Agreement may be executed
in counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement and the other Loan Documents constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 3.01, this Agreement shall become effective when it shall have been executed by the Agent
and when the Agent shall have received counterparts hereof that, when taken together, bear the
signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy or other electronic imaging means shall be effective as delivery
of a manually executed counterpart of this Agreement.

Section 8.11 Jurisdiction, Etc.

(a) Each of the parties hereto hereby submits to the non-exclusive jurisdiction of any New
York State court or federal court of the United States of America sitting in New York City, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement or the other Loan Documents, or for recognition or enforcement of any judgment, and each
of the parties hereto hereby agrees that all claims in respect of any such action or proceeding may
be heard and determined in any such New York State court or, to the extent permitted by Law, in
such federal court. Nothing in this Agreement shall affect any right that any party may otherwise
have to bring any action or proceeding relating to this Agreement or the Notes in the courts of any
jurisdiction.

(b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection that 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 or the
Notes in any New York State or federal court. 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.

Section 8.12 Payments Set Aside. To the extent that any payment by or on behalf of
the Borrower is made to the Agent, any Issuing Bank or any Lender, or the Agent, any Issuing Bank
or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any
part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or
required (including pursuant to any settlement entered into by the Agent, such Issuing Bank or such
Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection
with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such
recovery, the obligation or part thereof originally intended to be satisfied shall be revived and

 

69

 

continued in full force and effect as if such payment had not been made or such setoff had not
occurred, and (b) each Lender and each Issuing Bank severally agrees to pay to the Agent upon
demand its applicable share (without duplication) of any amount so recovered from or repaid by the
Agent, plus interest thereon from the date of such demand to the date such payment is made at a
rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the
Lenders and the Issuing Banks under clause (b) of the preceding sentence shall survive the payment
in full of the Obligations and the termination of this Agreement.

Section 8.13 Patriot Act. Each Lender hereby notifies the Borrower that pursuant to
the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Act”), it is required to obtain, verify and record information that identifies
each borrower, guarantor or grantor (the “Loan Parties”), which information includes the
name and address of each Loan Party and other information that will allow such Lender to identify
such Loan Party in accordance with the Act. The Borrower shall provide, to the extent commercially
reasonable, such information and take such actions as are reasonably requested by the Agent or any
Lender in order to assist the Agent and such Lender in maintaining compliance with the Act.

Section 8.14 Waiver of Jury Trial. EACH OF THE BORROWER, THE AGENT AND THE LENDERS
HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
(WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE
NOTES OR ANY OTHER LOAN DOCUMENT OR THE ACTIONS OF THE BORROWER, THE AGENT OR ANY LENDER IN THE
NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

Section 8.15 No Advisory or Fiduciary Responsibility. In connection with all aspects
of each transaction contemplated hereby, the Borrower acknowledges and agrees that: (i) the credit
facilities provided for hereunder and any related arranging or other services in connection
therewith (including in connection with any amendment, waiver or other modification hereof or of
any other Loan Document) are an arm’s-length commercial transaction between the Borrower, on the
one hand, and the Agent, each of the Lenders and each of the Arrangers, on the other hand, and the
Borrower is capable of evaluating and understanding and understands and accepts the terms, risks
and conditions of the transactions contemplated hereby and by the other Loan Documents (including
any amendment, waiver or other modification hereof or thereof); (ii) in connection with the process
leading to such transaction, each of the Agent, the Lenders and the Arrangers is and has been
acting solely as a principal and is not the financial advisor, agent or fiduciary, for the Borrower
or any of its Affiliates, stockholders, creditors or employees or any other Person; (iii) neither
the Agent nor any Lender or Arranger has assumed or will assume an advisory, agency or fiduciary
responsibility in favor of the Borrower with respect to any of the transactions contemplated hereby
or the process leading thereto, including with respect to any amendment, waiver or other
modification hereof or of any other Loan Document (irrespective of whether the Agent or any Lender
or Arranger has advised or is currently advising the Borrower or any of its Affiliates on other
matters) and neither the Agent nor any Lender or Arranger has any obligation to the Borrower with
respect to the transactions contemplated hereby except those obligations expressly set forth herein
and in the other Loan Documents; (iv) the Agent, each of the Lenders and the Arrangers and their
respective Affiliates may be engaged in a broad range of transactions that involve interests that
differ from those of the Borrower and its Affiliates, and

 

70

 

neither the Agent nor any Lender or Arranger has any obligation to disclose any of such
interests by virtue of any advisory, agency or fiduciary relationship; and (v) the Agent and each
Lender and Arranger have not provided and will not provide any legal, accounting, regulatory or tax
advice with respect to any of the transactions contemplated hereby (including any amendment, waiver
or other modification hereof or of any other Loan Document) and the Borrower has consulted its own
legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate. The
Borrower hereby waives and releases, to the fullest extent permitted by Law, any claims that it may
have against the Agent and each Lender and Arranger with respect to any breach or alleged breach of
agency or fiduciary duty in connection with the Loan Documents.

Section 8.16 Survival of Representations and Warranties. All representations and
warranties made hereunder and in any other Loan Document or other document delivered pursuant
hereto or thereto or in connection herewith or therewith shall survive the execution and delivery
hereof and thereof. Such representations and warranties have been or will be relied upon by the
Agent and each Lender, regardless of any investigation made by the Agent or any Lender or on their
behalf, and shall continue in full force and effect as long as any Advance or any other Obligation
hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

Section 8.17 Severability. If any provision of this Agreement or the other Loan
Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and
enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not
be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to
replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.
The invalidity of a provision in a particular jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

 

71

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	PINNACLE WEST CAPITAL CORPORATION

 	 
	 	By  	/s/ James R. Hatfield
 	 
	 	 	Name:  	James R. Hatfield 	 
	 	 	Title:  	Senior Vice President, Chief
Financial Officer and Treasurer 	 

 

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as Agent, Issuing
 Bank and as
a Lender

 	 
	 	By  	/s/ Sri Kalyana C. Popuri
 	 
	 	 	Name:  	Sri Kalyana C. Popuri 	 
	 	 	Title:  	Vice President 	 

 

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL

ASSOCIATION, as Co-Syndication Agent,

Issuing Bank and as a Lender

 	 
	 	By  	/s/ Yann Blindert
 	 
	 	 	Name:  	Yann Blindert 	 
	 	 	Title:  	Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BARCLAYS BANK PLC, as Co-Syndication

Agent and as Lender

 	 
	 	By  	/s/ Alicia Borys
 	 
	 	 	Name:  	Alicia Borys 	 
	 	 	Title:  	Assistant Vice President 	 

 

 

 

	 	 	 	 	 
	 	CREDIT SUISSE AG, CAYMAN ISLANDS

BRANCH, as Co-Syndication Agent and as a

Lender

 	 
	 	By  	/s/ Shaheen Malik
 	 
	 	 	Name:  	Shaheen Malik 	 
	 	 	Title:  	Vice President 	 
	 	 	 
	 	By  	                     /s/ Kevin Buddhdew
 	 
	 	 	Name:  	Kevin Buddhdew 	 
	 	 	Title:  	Associate 	 

 

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK

BRANCH, as a Lender

 	 
	 	By  	/s/ Rainer Meier
 	 
	 	 	Name:  	Rainer Meier 	 
	 	 	Title:  	Director 	 
	 	 	 
	 	By  	                     /s/ Ming K. Chu
 	 
	 	 	Name:  	Ming K. Chu 	 
	 	 	Title:  	Vice President 	 

 

 

 

	 	 	 	 	 
	 	GOLDMAN SACHS BANK USA, as a Lender

 	 
	 	By  	/s/ Mark Walton
 	 
	 	 	Name:  	Mark Walton 	 
	 	 	Title:  	Authorized Signatory 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION, as a

Lender

 	 
	 	By  	/s/ Keven D. Smith
 	 
	 	 	Name:  	Keven D. Smith 	 
	 	 	Title:  	Senior Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD., as a

Lender

 	 
	 	By  	/s/ Raymond Ventura
 	 
	 	 	Name:  	Raymond Ventura 	 
	 	 	Title:  	Deputy General Mgr. 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	SCOTIABANC INC., as a Lender

 	 
	 	By  	/s/ J. F. Todd
 	 
	 	 	Name:  	J. F. Todd 	 
	 	 	Title:  	Managing Director 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	SUNTRUST BANK, as a Lender

 	 
	 	By  	/s/ Andrew Johnson
 	 
	 	 	Name:  	Andrew Johnson 	 
	 	 	Title:  	Director 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE ROYAL BANK OF SCOTLAND PLC,

as a Lender

 	 
	 	By  	/s/ Belinda Tucker
 	 
	 	 	Name:  	Belinda Tucker 	 
	 	 	Title:  	Senior Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as a

Lender

 	 
	 	By  	/s/ Raymond J. Palmer
 	 
	 	 	Name:  	Raymond J. Palmer 	 
	 	 	Title:  	Senior Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	UBS AG, Stamford Branch, as a Lender

 	 
	 	By  	/s/ Irja R. Otsa
 	 
	 	 	Name:  	Irja R. Otsa 	 
	 	 	Title:  	Associate Director 	 
	 
	 	 	 
	 	By  	                   /s/ Marie Haddad
 	 
	 	 	Name:  	Marie Haddad 	 
	 	 	Title:  	Associate Director 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	UNION BANK, N.A., as a Lender

 	 
	 	By  	/s/ Efrain Soto
 	 
	 	 	Name:  	Efrain Soto 	 
	 	 	Title:  	Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CITIBANK, N.A., as a Lender

 	 
	 	By  	/s/ Todd C. Davis
 	 
	 	 	Name:  	Todd C. Davis 	 
	 	 	Title:  	Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Lender

 	 
	 	By  	/s/ Nancy R. Barwig
 	 
	 	 	Name:  	Nancy R. Barwig 	 
	 	 	Title:  	Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	MORGAN STANLEY BANK, N.A., as a Lender

 	 
	 	By  	/s/ Ryan Vetsch
 	 
	 	 	Name:  	Ryan Vetsch 	 
	 	 	Title:  	Authorized Signatory 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NATIONAL BANK OF ARIZONA, as a Lender

 	 
	 	By  	/s/ Abran Villegas
 	 
	 	 	Name:  	Abran Villegas 	 
	 	 	Title:  	Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON,

as a Lender

 	 
	 	By  	/s/ Richard A. Matthews
 	 
	 	 	Name:  	Richard A. Matthews 	 
	 	 	Title:  	Managing Director 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF COMMUNICATIONS CO.,

LTD., NEW YORK BRANCH, as a Lender

 	 
	 	By  	/s/ Shelley He
 	 
	 	 	Name:  	Shelley He 	 
	 	 	Title:  	Deputy General Manager 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	BANK OF TAIWAN, LOS ANGELES

BRANCH, as a Lender

 	 
	 	By  	/s/ Chwan-Ming Ho
 	 
	 	 	Name:  	Chwan-Ming Ho 	 
	 	 	Title:  	VP & General Manager 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	CIBC INC., as a Lender

 	 
	 	By  	/s/ Robert W. Casey, Jr.
 	 
	 	 	Name:  	Robert W. Casey, Jr. 	 
	 	 	Title:  	Executive Director 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	FIRST COMMERCIAL BANK, NEW

YORK AGENCY, as a Lender

 	 
	 	By  	/s/ Jenn-Hwa Wang
 	 
	 	 	Name:  	Jenn-Hwa Wang 	 
	 	 	Title:  	General Manager 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORP.,

NEW YORK, as a Lender

 	 
	 	By  	/s/ William M. Ginn
 	 
	 	 	Name:  	William M. Ginn 	 
	 	 	Title:  	General Manager 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	TAIWAN BUSINESS BANK, as a Lender

 	 
	 	By  	/s/ Alex Wang
 	 
	 	 	Name:  	Alex Wang 	 
	 	 	Title:  	S.V.P. & General Manager 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	TAIWAN COOPERATIVE BANK, LOS

ANGELES BRANCH, as a Lender

 	 
	 	By  	/s/ Li-Hua Huang
 	 
	 	 	Name:  	Li-Hua Huang 	 
	 	 	Title:  	AVP & General Manager 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE BANK OF EAST ASIA, LIMITED,

LOS ANGELES BRANCH, as a Lender

 	 
	 	By  	/s/ Chong Tan
 	 
	 	 	Name:  	Chong Tan 	 
	 	 	Title:  	VP & Credit Manager 	 
	 
	 	 	 
	 	By  	                   /s/ Victor Li
 	 
	 	 	Name:  	Victor Li 	 
	 	 	Title:  	General Manager 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY, as a

Lender

 	 
	 	By  	/s/ John Lascody
 	 
	 	 	Name:  	John Lascody 	 
	 	 	Title:  	Second Vice President 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	UMB BANK ARIZONA, N.A., as a Lender

 	 
	 	By  	/s/ Julie Stevens
 	 
	 	 	Name:  	Julie Stevens 	 
	 	 	Title:  	Vice President 	 

 

 

 

	 	 	 	 	 

SCHEDULE 1.01

COMMITMENTS AND RATABLE SHARES

	 	 	 	 	 	 	 	 	 
	 	 	Revolving Credit	 	 	 	 
	Bank	 	Commitment	 	 	Ratable Share	 
	Bank of America, N.A.
	 	$	10,000,000.00	 	 	 	5.000000000	%
	Wells Fargo Bank, National Association
	 	$	10,000,000.00	 	 	 	5.000000000	%
	Barclays Bank PLC
	 	$	10,000,000.00	 	 	 	5.000000000	%
	Credit Suisse AG, Cayman Islands Branch
	 	$	10,000,000.00	 	 	 	5.000000000	%
	Deutsche Bank AG New York Branch
	 	$	7,714,285.71	 	 	 	3.857142855	%
	Goldman Sachs Bank USA
	 	$	7,714,285.71	 	 	 	3.857142855	%
	KeyBank National Association
	 	$	7,714,285.71	 	 	 	3.857142855	%
	Mizuho Corporate Bank, Ltd.
	 	$	7,714,285.71	 	 	 	3.857142855	%
	Scotiabanc Inc.
	 	$	7,714,285.71	 	 	 	3.857142855	%
	SunTrust Bank
	 	$	7,714,285.71	 	 	 	3.857142855	%
	The Royal Bank of Scotland plc
	 	$	7,714,285.71	 	 	 	3.857142855	%
	U.S. Bank National Association
	 	$	7,714,285.71	 	 	 	3.857142855	%
	UBS AG, Stamford Branch
	 	$	7,714,285.71	 	 	 	3.857142855	%
	Union Bank, N.A.
	 	$	7,714,285.71	 	 	 	3.857142855	%
	Citibank, N.A.
	 	$	6,571,428.58	 	 	 	3.285714290	%
	JPMorgan Chase Bank, N.A.
	 	$	6,571,428.58	 	 	 	3.285714290	%
	Morgan Stanley Bank, N.A.
	 	$	6,571,428.58	 	 	 	3.285714290	%
	National Bank of Arizona
	 	$	6,571,428.58	 	 	 	3.285714290	%
	The Bank of New York Mellon
	 	$	6,571,428.58	 	 	 	3.285714290	%
	Bank of Communications Co., Ltd., New York Branch
	 	$	5,000,000.00	 	 	 	2.500000000	%
	Bank of Taiwan, Los Angeles Branch
	 	$	5,000,000.00	 	 	 	2.500000000	%
	CIBC Inc.
	 	$	5,000,000.00	 	 	 	2.500000000	%
	First Commercial Bank, New York Agency
	 	$	5,000,000.00	 	 	 	2.500000000	%
	Sumitomo Mitsui Banking Corp., New York
	 	$	5,000,000.00	 	 	 	2.500000000	%
	Taiwan Business Bank
	 	$	5,000,000.00	 	 	 	2.500000000	%
	Taiwan Cooperative Bank, Los Angeles Branch
	 	$	5,000,000.00	 	 	 	2.500000000	%
	The Bank of East Asia, Limited, Los Angeles Branch
	 	$	5,000,000.00	 	 	 	2.500000000	%
	The Northern Trust Company
	 	$	5,000,000.00	 	 	 	2.500000000	%
	UMB Bank Arizona, N.A.
	 	$	5,000,000.00	 	 	 	2.500000000	%
	 	 	 	 	 	 	 
	TOTAL
	 	$	200,000,000.00	 	 	 	100.000000000	%
	 	 	 	 	 	 	 

 

 

 

SCHEDULE 4.01(j)

SUBSIDIARIES

Arizona Public Service Company

 

 

 

SCHEDULE 4.01(k)

EXISTING INDEBTEDNESS

None.

 

 

 

SCHEDULE 8.02

CERTAIN ADDRESSES FOR NOTICES

Omitted

 

 

EXHIBIT A — FORM OF

PROMISSORY NOTE

                                        , 200__

FOR VALUE RECEIVED, the undersigned, PINNACLE WEST CAPITAL CORPORATION, an Arizona corporation
(the “Borrower”), hereby promises to pay to the order of
 _____ 
or its registered assigns
(the “Lender”), in accordance with the provisions of the Credit Agreement (as hereinafter
defined), the principal amount of each Advance from time to time made by the Lender to the Borrower
pursuant to the Three-Year Credit Agreement dated as of February 12, 2010 among the Borrower, the
Lender and certain other lenders parties thereto, the Arrangers, and Bank of America, N.A., as
Agent for the Lender and such other lenders, and the issuing banks and other agents party thereto
(as amended or modified from time to time, the “Credit Agreement”; the terms defined
therein being used herein as therein defined) outstanding on such date.

The Borrower promises to pay interest on the unpaid principal amount of each Advance from the
date of such Advance until such principal amount is paid in full, at such interest rates, and
payable at such times, as are specified in the Credit Agreement.

Both principal and interest are payable in lawful money of the United States of America to the
Agent for the account of the Lender in same day funds at the address and account specified on
Schedule 8.02. Each Advance owing to the Lender by the Borrower pursuant to the Credit
Agreement, and all payments made on account of principal thereof, shall be recorded by the Lender
and, prior to any transfer hereof, endorsed on the grid attached hereto which is part of this
Promissory Note.

This Promissory Note is one of the Notes referred to in, and is entitled to the benefits of,
the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of
Advances by the Lender to the Borrower from time to time in an aggregate amount not to exceed at
any time the Lender’s Unused Commitment, the indebtedness of the Borrower resulting from each such
Advance being evidenced by this Promissory Note and (ii) contains provisions for acceleration of
the maturity hereof upon the happening of certain stated events and also for prepayments on account
of principal hereof prior to the maturity hereof upon the terms and conditions therein specified.

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

	 	 	 	 	 
	 	PINNACLE WEST CAPITAL CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

A-1

 

ADVANCES AND PAYMENTS OF PRINCIPAL

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Amount of	 	 	 	 	 	 	 
	 	 	Amount of	 	 	Principal Paid	 	 	Unpaid Principal	 	 	Notation	 
	Date	 	Advance	 	 	or Prepaid	 	 	Balance	 	 	Made By	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

A-2

 

EXHIBIT B — FORM OF NOTICE OF

BORROWING

Bank of America, N.A., as Agent

for the Lenders parties

to the Credit Agreement

referred to below

Attention: Bank Loan Syndications Department

[Date]

Ladies and Gentlemen:

The undersigned, Pinnacle West Capital Corporation, refers to the Three-Year Credit Agreement,
dated as of February 12, 2010 (as amended or modified from time to time, the “Credit
Agreement”, the terms defined therein being used herein as therein defined), among the
undersigned, certain Lenders parties thereto, the Arrangers, Bank of America, N.A., as Agent for
said Lenders and the issuing banks and other agents party thereto, and hereby gives you notice,
irrevocably, pursuant to Section 2.02 of the Credit Agreement that the undersigned hereby requests
a Borrowing under the Credit Agreement, and in that connection sets forth below the information
relating to such Borrowing (the “Proposed Borrowing”) as required by Section 2.02(a) of the
Credit Agreement:

	 	(i)	 	The Business Day of the Proposed Borrowing
is          
           , 20_____.

	 
	 	(ii)	 	The Type of Advances comprising the Proposed Borrowing is [Base Rate Advances]
[Eurodollar Rate Advances].

	 
	 	(iii)	 	The aggregate amount of the Proposed Borrowing is $                    .

	 
	 	[(iv)	 	The initial Interest Period for each Eurodollar Rate Advance made as part of
the Proposed Borrowing is
 _____ 
month[s].]

The undersigned hereby certifies that the following statements are true on the date hereof,
and will be true on the date of the Proposed Borrowing:

(A) the representations and warranties contained in Section 4.01 (other than Sections 4.01(k),
4.01(e)(ii) and 4.01(f)(ii)) of the Credit Agreement are correct, before and after giving effect to
the Proposed Borrowing and to the application of the proceeds therefrom, as though made on and as
of such date;

(B) no event has occurred and is continuing, or would result from such Proposed Borrowing or
from the application of the proceeds therefrom, that constitutes a Default; and

(C) after giving effect to the Proposed Borrowing, the Indebtedness of the Borrower does not
exceed that permitted by (A) applicable resolutions of the Board of Directors of the Borrower or
(B) applicable Laws of any Governmental Authority.

 

B-1

 

	 	 	 	 	 
	 	Very truly yours,

PINNACLE WEST CAPITAL CORPORATION

 	 
	 	By  	 	 
	 	 	Title:. 	 
	 	 	 	 

 

B-2

 

EXHIBIT C — FORM OF

ASSIGNMENT AND ASSUMPTION

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

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

	 	1.	 	Assignor:       
            
           
             
               
              
         

	 
	 	2.	 	Assignee:      
             
            
             
              
             
          

	 	 	 	[and is an Affiliate of [identify Bank]1]

	 	3.	 	Borrower: Pinnacle West Capital Corporation

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

	 
	 	5.	 	Credit Agreement: The Three-Year Credit
Agreement dated as of February 12, 2010, by
and among the Borrower, the Lenders party thereto, the Arrangers, the Agent and the Issuing
Banks and other agents party thereto.

	 
	 	6.	 	Assigned Interest:

 

	 	 	 
	1	 	Select as applicable.

 

C-1

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Aggregate Amount	 	Amount of	 	 	Percentage	 	 	 	 
	of Commitment for	 	Commitment	 	 	Assigned of	 	 	CUSIP	 
	all Lenders	 	Assigned	 	 	Commitment2	 	 	Number	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	$                    
	 	$	                    	 	 	 	                    	%	 	 	 	 

[7. Trade Date: ]3

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

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

	 	 	 	 	 
	 	ASSIGNOR

[NAME OF ASSIGNOR]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 	ASSIGNEE

[NAME OF ASSIGNEE]

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 

	 	 	 	 	 
	[Consented to and]4 Accepted:

BANK OF AMERICA, N.A. as Agent 

 	 
	By  	 	 
	 	 	Title: 	 

 

	 	 	 
	2	 	Set forth, to at least 9 decimals, as a percentage of
the Commitment of all Banks thereunder.

	 
	3	 	To be completed if the Assignor and the Assignee intend
that the minimum assignment amount is to be determined as of the Trade Date.

	 
	4	 	To be added only if the consent of the Agent is
required by the terms of the Credit Agreement.

 

C-2

 

	 	 	 	 	 
	 
	 	 	 	 
	[Consented to:]5	 	 
	[WELLS FARGO BANK, NATIONAL ASSOCIATION as Issuing Bank]	 	 
	 
	 	 	 	 
	By
	 	 	 	 
	 

	 	 

	 	 
	 
	 	Name:	 	 
	 
	 	Title:	 	 
	 
	 	 	 	 
	[BANK OF AMERICA, N.A., as Issuing Bank]	 	 
	 
	 	 	 	 
	By
	 	 	 	 
	 

	 	 

	 	 
	 
	 	Name:	 	 
	 
	 	Title:	 	 
	 
	 	 	 	 
	PINNACLE WEST CAPITAL CORPORATION	 	 
	 
	 	 	 	 
	By
	 	 	 	 
	 

	 	 

	 	 
	 
	 	Name:	 	 
	 
	 	Title:	 	 

 

	 	 	 
	5	 	To be added only if the consent of the Borrowers and/or
other parties (e.g. Issuing Bank) is required by the terms of the Credit
Agreement.

 

C-3

 

ANNEX 1 TO ASSIGNMENT AND ASSUMPTION

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

1. Representations and Warranties.

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

1.2 Assignee. The Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements to be an Eligible Assignee under Section 8.07
of the Credit Agreement (subject to such consents, if any, as may be required under Section 8.07 of
the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions
of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall
have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to
acquire assets of the type represented by the Assigned Interest and either it, or the Person
exercising discretion in making its decision to acquire the Assigned Interest, is experienced in
acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received
or has been accorded the opportunity to receive copies of the most recent financial statements
delivered pursuant to Section 4.01(e) or 5.01(h), as applicable, thereof, as applicable, and such
other documents and information as it deems appropriate to make its own credit analysis and
decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, (vi)
it has, independently and without reliance upon the Agent or any other Lender and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision
to enter into this Assignment and Assumption and to purchase the Assigned Interest, and (vi) if it
is a foreign lender, attached to the Assignment and Assumption is any documentation required to be
delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the
Assignee; and (b) agrees that (i) it will, independently and without reliance on the Agent, the
Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a
Lender.

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

 

C-4

 

3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This
Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this
Assignment and Assumption by facsimile shall be effective as delivery of a manually executed
counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed
by, and construed in accordance with, the Law of the State of New York.

 

C-5exv4w1

Exhibit 4.1

EXECUTION VERSION

 

LIFE TECHNOLOGIES CORPORATION,

as the Company

and

U.S. Bank National Association,

as Trustee

 

Indenture

Dated as of February 19, 2010

Senior Debt Securities

 

 

 

 

 

Certain Sections of this Indenture relating to Sections 310 through 318,

inclusive, of the Trust Indenture Act of 1939:

	 	 	 
	Trust Indenture	 	 
	Act Section	 	Indenture Section
	§ 310 (a)(1)
	 	609
	(a)(2)
	 	609
	(a)(3)
	 	Not Applicable
	(a)(4)
	 	Not Applicable
	(b)
	 	608
	 
	 	610
	§ 311 (a)
	 	613
	(b)
	 	613
	§ 312 (a)
	 	701
	 
	 	702
	(b)
	 	702
	(c)
	 	702
	§ 313 (a)
	 	703
	(b)
	 	703
	(c)
	 	703
	(d)
	 	703
	§ 314 (a)
	 	704
	(a)(4)
	 	101
	 
	 	1004
	(b)
	 	Not Applicable
	(c)(1)
	 	102
	(c)(2)
	 	102
	(c)(3)
	 	Not Applicable
	(d)
	 	Not Applicable
	(e)
	 	102
	§ 315 (a)
	 	601
	(b)
	 	602
	(c)
	 	601
	(d)
	 	601
	(e)
	 	514
	§ 316 (a)
	 	101
	(a)(1)(A)
	 	502
	 
	 	512
	(a)(1)(B)
	 	513
	(a)(2)
	 	Not Applicable
	(b)
	 	508
	(c)
	 	104
	§ 317 (a)(1)
	 	503
	(a)(2)
	 	504
	(b)
	 	1003
	§ 318 (a)
	 	107

 

			
	note:	 	This reconciliation and tie shall not, for any purpose, be deemed to be a part of
the Indenture.

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	Recitals of the Company
	 	 	1	 
	 
	 	 	 	 
	ARTICLE ONE
	 	 	 	 
	 
	 	 	 	 
	DEFINITIONS AND OTHER PROVISIONS
OF GENERAL APPLICATION
	 	 	 	 
	 
	 	 	 	 
	SECTION 101. Definitions
	 	 	1	 
	“Act”
	 	 	2	 
	“Affiliate”
	 	 	2	 
	“Agent”
	 	 	2	 
	“Applicable Procedures”
	 	 	2	 
	“Authenticating Agent”
	 	 	2	 
	“Board of Directors”
	 	 	2	 
	“Board Resolution”
	 	 	2	 
	“Business Day”
	 	 	2	 
	“Capital Lease Obligation”
	 	 	2	 
	“Commission”
	 	 	2	 
	“Company”
	 	 	3	 
	“Company Request” or “Company Order”
	 	 	3	 
	“Consolidated Net Tangible Assets”
	 	 	3	 
	“Corporate Trust Office”
	 	 	3	 
	“corporation”
	 	 	3	 
	“Covenant Defeasance”
	 	 	3	 
	“Defaulted Interest”
	 	 	3	 
	“Defeasance”
	 	 	3	 
	“Definitive Security”
	 	 	3	 
	“Depositary”
	 	 	4	 
	“Event of Default”
	 	 	4	 
	“Exchange Act”
	 	 	4	 
	“Expiration Date”
	 	 	4	 
	“Funded Debt”
	 	 	4	 
	“Global Securities”
	 	 	4	 
	“Global Security Legend”
	 	 	4	 
	“Hedging Obligations”
	 	 	4	 
	“Holder”
	 	 	4	 
	“Indenture”
	 	 	5	 
	“interest”
	 	 	5	 
	“Interest Payment Date”
	 	 	5	 
	“Investment Company Act”
	 	 	5	 
	“Lien”
	 	 	5	 
	“Maturity”
	 	 	5	 
	“Notice of Default”
	 	 	6	 

 

			
	note:	 	This reconciliation and tie shall not, for any purpose, be deemed to be a part of
the Indenture.

 

 

	 	 	 	 	 
	 	 	Page
	“Officer”
	 	 	6	 
	“Officers’ Certificate”
	 	 	6	 
	“Opinion of Counsel”
	 	 	6	 
	“Original Issue Discount Security”
	 	 	6	 
	“Outstanding”
	 	 	6	 
	“Participant”
	 	 	7	 
	“Paying Agent”
	 	 	7	 
	“Permitted Liens”
	 	 	7	 
	“Person”
	 	 	7	 
	“Place of Payment”
	 	 	7	 
	“Predecessor Security”
	 	 	7	 
	“Redemption Date”
	 	 	8	 
	“Redemption Price”
	 	 	8	 
	“Regular Record Date”
	 	 	8	 
	“Responsible Officer”
	 	 	8	 
	“Sale and Leaseback Transaction”
	 	 	8	 
	“Securities”
	 	 	8	 
	“Securities Act”
	 	 	8	 
	“Security Register” and “Security Registrar”
	 	 	8	 
	“Special Record Date”
	 	 	8	 
	“Stated Maturity”
	 	 	9	 
	“Subsidiary”
	 	 	9	 
	“Trust Indenture Act”
	 	 	9	 
	“Trustee”
	 	 	9	 
	“Uniform Commercial Code”
	 	 	9	 
	“U.S. GAAP”
	 	 	9	 
	“U.S. Government Obligation”
	 	 	9	 
	“U.S. Person”
	 	 	9	 
	“Value”
	 	 	9	 
	“Vice President”
	 	 	10	 
	SECTION 102. Compliance Certificates and Opinions
	 	 	10	 
	SECTION 103. Form of Documents Delivered to Trustee
	 	 	10	 
	SECTION 104. Acts of Holders; Record Dates
	 	 	11	 
	SECTION 105. Notices, Etc., to Trustee and Company
	 	 	13	 
	SECTION 106. Notice to Holders, Waiver
	 	 	13	 
	SECTION 107. Conflict with Trust Indenture Act
	 	 	14	 
	SECTION 108. Effect of Headings and Table of Contents
	 	 	14	 
	SECTION 109. Successors and Assigns
	 	 	14	 
	SECTION 110. Separability Clause
	 	 	14	 
	SECTION 111. Benefits of Indenture
	 	 	14	 
	SECTION 112. Governing Law
	 	 	15	 
	SECTION 113. Legal Holidays
	 	 	15	 
	 
	 	 	 	 
	ARTICLE TWO
	 	 	 	 
	 
	 	 	 	 
	SECURITY FORMS
	 	 	 	 

ii 

 

	 	 	 	 	 
	 	 	Page
	SECTION 201. Form and Dating
	 	 	16	 
	SECTION 202. Execution and Authentication
	 	 	17	 
	SECTION 203. Transfer and Exchange
	 	 	19	 
	 
	 	 	 	 
	ARTICLE THREE
	 	 	 	 
	 
	 	 	 	 
	THE SECURITIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 301. Amount Unlimited; Issuable in Series
	 	 	22	 
	SECTION 302. Intentionally Omitted
	 	 	25	 
	SECTION 303. Intentionally Omitted
	 	 	25	 
	SECTION 304. Temporary Securities
	 	 	25	 
	SECTION 305. Registration, Registration of Transfer and Exchange
	 	 	25	 
	SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities
	 	 	26	 
	SECTION 307. Payment of Interest; Interest Rights Preserved
	 	 	27	 
	SECTION 308. Persons Deemed Owners
	 	 	28	 
	SECTION 309. Cancellation
	 	 	28	 
	SECTION 310. Computation of Interest
	 	 	29	 
	SECTION 311. CUSIP Numbers
	 	 	29	 
	 
	 	 	 	 
	ARTICLE FOUR
	 	 	 	 
	 
	 	 	 	 
	SATISFACTION AND DISCHARGE
	 	 	 	 
	 
	 	 	 	 
	SECTION 401. Satisfaction and Discharge of Indenture
	 	 	29	 
	SECTION 402. Application of Trust Money
	 	 	30	 
	 
	 	 	 	 
	ARTICLE FIVE
	 	 	 	 
	 
	 	 	 	 
	REMEDIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 501. Events of Default
	 	 	31	 
	SECTION 502. Acceleration of Maturity; Rescission and Annulment
	 	 	33	 
	SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	34	 
	SECTION 504. Trustee May File Proofs of Claim
	 	 	35	 
	SECTION 505. Trustee May Enforce Claims Without Possession of Securities
	 	 	35	 
	SECTION 506. Application of Money Collected
	 	 	35	 
	SECTION 507. Limitation on Suits
	 	 	36	 
	SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest
	 	 	37	 
	SECTION 509. Restoration of Rights and Remedies
	 	 	37	 
	SECTION 510. Rights and Remedies Cumulative
	 	 	37	 
	SECTION 511. Delay or Omission Not Waiver
	 	 	37	 
	SECTION 512. Control by Holders
	 	 	38	 
	SECTION 513. Waiver of Past Defaults
	 	 	38	 
	SECTION 514. Undertaking for Costs
	 	 	38	 
	SECTION 515. Waiver of Usury, Stay or Extension Laws
	 	 	39	 

iii 

 

	 	 	 	 	 
	 	 	Page
	ARTICLE SIX
	 	 	 	 
	 
	 	 	 	 
	THE TRUSTEE
	 	 	 	 
	 
	 	 	 	 
	SECTION 601. Certain Duties and Responsibilities
	 	 	39	 
	SECTION 602. Notice of Defaults
	 	 	40	 
	SECTION 603. Certain Rights of Trustee
	 	 	40	 
	SECTION 604. Not Responsible for Recitals or Issuance of Securities
	 	 	42	 
	SECTION 605. May Hold Securities
	 	 	42	 
	SECTION 606. Money Held in Trust
	 	 	43	 
	SECTION 607. Compensation and Reimbursement
	 	 	43	 
	SECTION 608. Conflicting Interests
	 	 	44	 
	SECTION 609. Corporate Trustee Required; Eligibility
	 	 	44	 
	SECTION 610. Resignation and Removal; Appointment of Successor
	 	 	44	 
	SECTION 611. Acceptance of Appointment by Successor
	 	 	46	 
	SECTION 612. Merger, Conversion, Consolidation or Succession to Business
	 	 	47	 
	SECTION 613. Preferential Collection of Claims Against Company
	 	 	47	 
	SECTION 614. Appointment of Authenticating Agent
	 	 	47	 
	 
	 	 	 	 
	ARTICLE SEVEN
	 	 	 	 
	 
	 	 	 	 
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	 	 	 	 
	 
	 	 	 	 
	SECTION 701. Company to Furnish Trustee Names and Addresses of Holders
	 	 	49	 
	SECTION 702. Preservation of Information; Communications to Holders
	 	 	49	 
	SECTION 703. Reports by Trustee
	 	 	50	 
	SECTION 704. Reports by Company
	 	 	50	 
	 
	 	 	 	 
	ARTICLE EIGHT
	 	 	 	 
	 
	 	 	 	 
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	 	 	 	 
	 
	 	 	 	 
	SECTION 801. Company May Consolidate, Etc., Only on Certain Terms
	 	 	51	 
	SECTION 802. Successor Substituted
	 	 	51	 
	 
	 	 	 	 
	ARTICLE NINE
	 	 	 	 
	 
	 	 	 	 
	SUPPLEMENTAL INDENTURES
	 	 	 	 
	 
	 	 	 	 
	SECTION 901. Supplemental Indentures Without Consent of Holders
	 	 	52	 
	SECTION 902. Supplemental Indentures with Consent of Holders
	 	 	53	 
	SECTION 903. Execution of Supplemental Indentures
	 	 	54	 
	SECTION 904. Effect of Supplemental Indentures
	 	 	54	 
	SECTION 905. Conformity with Trust Indenture Act
	 	 	54	 
	SECTION 906. Notice of Supplemental Indenture; Reference in Securities
to Supplemental Indentures
	 	 	54	 

iv 

 

	 	 	 	 	 
	 	 	Page
	ARTICLE TEN
	 	 	 	 
	 
	 	 	 	 
	COVENANTS
	 	 	 	 
	 
	 	 	 	 
	SECTION 1001. Payment of Principal, Premium and Interest
	 	 	55	 
	SECTION 1002. Maintenance of Office or Agency
	 	 	55	 
	SECTION 1003. Money for Securities Payments to Be Held in Trust
	 	 	55	 
	SECTION 1004. Statement by Officers as to Default
	 	 	57	 
	SECTION 1005. Existence
	 	 	57	 
	SECTION 1006. Maintenance of Properties
	 	 	57	 
	SECTION 1007. Payment of Taxes and Other Claims
	 	 	57	 
	SECTION 1008. [Intentionally Omitted]
	 	 	58	 
	SECTION 1009. Calculation of Original Issue Discount
	 	 	58	 
	SECTION 1010. Limitation on Liens
	 	 	58	 
	SECTION 1011. Limitation on Sale and Leaseback Transactions
	 	 	59	 
	 
	 	 	 	 
	ARTICLE ELEVEN
	 	 	 	 
	 
	 	 	 	 
	REDEMPTION OF SECURITIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 1101. Applicability of Article
	 	 	60	 
	SECTION 1102. Election to Redeem; Notice to Trustee
	 	 	60	 
	SECTION 1103. Selection by Trustee of Securities to Be Redeemed
	 	 	60	 
	SECTION 1104. Notice of Redemption
	 	 	61	 
	SECTION 1105. Deposit of Redemption Price
	 	 	62	 
	SECTION 1106. Securities Payable on Redemption Date
	 	 	62	 
	SECTION 1107. Securities Redeemed in Part
	 	 	62	 
	 
	 	 	 	 
	ARTICLE TWELVE
	 	 	 	 
	 
	 	 	 	 
	SINKING FUNDS
	 	 	 	 
	 
	 	 	 	 
	SECTION 1201. Applicability of Article
	 	 	63	 
	SECTION 1202. Satisfaction of Sinking Fund Payments with Securities
	 	 	63	 
	SECTION 1203. Redemption of Securities for Sinking Fund
	 	 	63	 
	 
	 	 	 	 
	ARTICLE THIRTEEN
	 	 	 	 
	 
	 	 	 	 
	DEFEASANCE AND COVENANT DEFEASANCE
	 	 	 	 
	 
	 	 	 	 
	SECTION 1301. Company’s Option to Effect Defeasance or Covenant Defeasance
	 	 	64	 
	SECTION 1302. Defeasance and Discharge
	 	 	64	 
	SECTION 1303. Covenant Defeasance
	 	 	64	 
	SECTION 1304. Conditions to Defeasance or Covenant Defeasance
	 	 	65	 
	SECTION 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust;
Miscellaneous Provisions
	 	 	67	 
	SECTION 1306. Reinstatement
	 	 	67	 

v 

 

	 	 	 	 	 
	 	 	Page
	ARTICLE FOURTEEN
	 	 	 	 
	 
	 	 	 	 
	MISCELLANEOUS PROVISIONS
	 	 	 	 
	 
	 	 	 	 
	SECTION 1401. Originals
	 	 	68	 
	SECTION 1402. Force Majeure
	 	 	68	 
	SECTION 1403. U.S.A. Patriot Act
	 	 	68	 

SIGNATURES

EXHIBITS:

Exhibit A: Form of Security

vi 

 

          INDENTURE, dated as of February 19, 2010, between LIFE TECHNOLOGIES CORPORATION, a corporation
duly organized and existing under the laws of the State of Delaware (herein called the “Company”),
having its principal office at 5791 Van Allen Way, Carlsbad, CA 92008 and U.S. Bank National
Association, a national banking association, as Trustee (herein called the “Trustee”).

Recitals of the Company

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

          This Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended,
that are required to be part of this Indenture and shall, to the extent applicable, be governed by
such provisions.

          All things necessary to make this Indenture a valid agreement of the Company, in accordance
with its terms, have been done.

          Now, Therefore, This Indenture Witnesseth:

          For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the
Securities or of series thereof, as follows:

ARTICLE ONE

Definitions and Other Provisions

of General Application

SECTION 101. Definitions.

          For all purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires:

     (1) the terms defined in this Article have the meanings assigned to them in this Article
and include the plural as well as the singular;

     (2) all other terms used herein which are defined in the Trust Indenture Act, either
directly or by reference therein, have the meanings assigned to them therein;

     (3) all accounting terms not otherwise defined herein have the meanings assigned to them
in accordance with U.S. GAAP;

 

     (4) unless the context otherwise requires, any reference to an “Article,” a “Section” or a
Subsection refers to an Article, a Section or a Subsection, as the case may be, of this
Indenture; and

     (5) the words “herein”, “hereof” and “hereunder” and other words of similar import refer
to this Indenture as a whole and not to any particular Article, Section, Subsection or other
subdivision.

          “Act”, when used with respect to any Holder, has the meaning specified in Section 104.

          “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For the
purposes of this definition, “control” when used with respect to any specified Person means the
power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing.

          “Agent” means any Security Registrar, Paying Agent or co-registrar.

          “Applicable Procedures” means, with respect to any transfer or exchange of any Global
Security, the rules and procedures of the Depositary that apply to such transfer or exchange.

          “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 614 to
act on behalf of the Trustee to authenticate Securities of one or more series.

          “Board of Directors” means the board of directors of the Company.

          “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect on the date of such certification, and delivered to the Trustee.

          “Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of
Payment are authorized or obligated by law or executive order to close.

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

          “Commission” means the Securities and Exchange Commission, from time to time constituted,
created under the Exchange Act, or, if at any time after the execution of

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this Indenture such Commission is not existing and performing the duties now assigned to it
under the Trust Indenture Act, then the body performing such duties at such time.

          “Company” means the Person named as the “Company” in the first paragraph of this instrument
until a successor Person shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Company” shall mean such successor Person.

          “Company Request” or “Company Order” means a written request or order signed in the name of
the Company by its Chairman of the Board, its Vice Chairman of the Board, its President or a Vice
President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary,
and delivered to the Trustee.

          “Consolidated Net Tangible Assets” means the aggregate amount of the assets (less applicable
reserves and other properly deductible items) of the Company and its Subsidiaries after deducting
therefrom (a) all current liabilities (excluding any indebtedness for money borrowed having a
maturity of less than 12 months from the date of the Company’s most recent consolidated balance
sheet but which by its terms is renewable or extendible beyond 12 months from that date at the
option of the borrower) of the Company and its Subsidiaries and (b) all goodwill, trade names,
patents, unamortized debt discount and expense and any other like intangibles of the Company and
its Subsidiaries, all as set forth on the Company’s most recent consolidated balance sheet and
computed in accordance with U.S. GAAP.

          “Corporate Trust Office” means the office of the Trustee at which at any time the trust created by
this Indenture shall be administered, which office at the date of the execution of this Indenture
is located at U.S. Bank National Association, Corporate Trust Services, 633 West Fifth Street, 24th
Floor, LM-CA-T24T, Los Angeles, CA 90071, except that whenever a provision herein refers to an
office or agency of the Trustee in the Borough of Manhattan, The City of New York, such office is
located, at the date hereof, at the office of U.S. Bank Trust National Association, an affiliate of
the Trustee at 100 Wall Street, Suite 1600, New York, NY 10005, attention: Corporate Trust
Services, Mail Station: EX-NY-WALL.

          “corporation” means a corporation, association, company, joint-stock company or business
(including Delaware statutory) trust.

          “Covenant Defeasance” has the meaning specified in Section 1303.

          “Defaulted Interest” has the meaning specified in Section 307.

          “Defeasance” has the meaning specified in Section 1302.

          “Definitive Security” means a certificated Security registered in the name of the Holder
thereof and issued in accordance with Section 203 hereof, substantially in the form of Exhibit A
hereto, except that such Security shall not bear the Global Security Legend and shall not have the
“Schedule of Exchanges of Interests in the Global Security” attached thereto.

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          “Depositary” means, with respect to Securities of any series issuable in whole or in part in
the form of one or more Global Securities, a clearing agency registered under the Exchange Act that
is designated to act as Depositary for such Securities as contemplated by Section 203.

          “Event of Default” has the meaning specified in Section 501.

          “Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in
each case as amended from time to time.

          “Expiration Date” has the meaning specified in Section 104.

          “Funded Debt”means indebtedness of the Company or the indebtedness of a Subsidiary of the
Company owning property maturing by its terms more than one year after its creation and
indebtedness classified as long-term debt under U.S. GAAP, and in each case ranking at least pari
passu with the Securities.

          “Global Securities” means the Securities, substantially in the form of Exhibit A hereto, as
appropriate, that bear the Global Security Legend and that have the “Schedule of Exchanges of
Interests in the Global Security” attached thereto, and that are deposited with or on behalf of and
registered in the name of the Depositary, issued in accordance with Section 201 or 203 of this
Indenture.

          “Global Security Legend” means the legend set forth in Section 203(g)(ii), which is required
to be placed on all Global Securities issued under this Indenture.

          “Hedging Obligations” means, with respect to any specified Person, the obligations of such
Person under:

          (a) interest rate swap agreements, interest rate cap agreements, interest rate collar
agreements and other agreements or arrangements with respect to interest rates;

          (b) commodity swap agreements, commodity option agreements, forward contracts and other
agreements or arrangements with respect to commodity prices; and

          (c) foreign exchange contracts, currency swap agreements and other agreements or arrangements
with respect to foreign currency exchange rates.

          “Holder” means a Person in whose name a Security is registered in the Security Register.

          “indebtedness” means, with respect to any specified Person, any indebtedness of such Person,
whether or not contingent:

          (a) in respect of borrowed money;

          (b) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or
reimbursement agreements in respect thereof);

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          (c) in respect of banker’s acceptances;

          (d) in respect of Capital Lease Obligations;

          (e) in respect of the balance deferred and unpaid of the purchase price of any property or
services, except any such balance that constitutes an accrued expense or trade payable;

          (f) representing Hedging Obligations;

          In addition, the term ‘indebtedness” includes (x) all indebtedness of others secured by a Lien
on any asset of the specified Person (whether or not such indebtedness is assumed by the specified
Person), provided that the amount of such indebtedness will be the lesser of (A) the fair market
value of such asset at such date of determination and (B) the amount of such indebtedness, and (y)
to the extent not otherwise included, the guarantee by the specified Person of any indebtedness of
any other Person.

          “Indenture” means this instrument as originally executed and as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof, including, for all purposes of this instrument and any such
supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of
and govern this instrument and any such supplemental indenture, respectively. The term “Indenture”
shall also include the terms of particular series of Securities established as contemplated by
Section 301.

          “interest”, when used with respect to an Original Issue Discount Security which by its terms
bears interest only after Maturity, means interest payable after Maturity at the rate prescribed in
such Original Issue Discount Security.

          “Interest Payment Date”, when used with respect to any Security, means the Stated Maturity of
an installment of interest on such Security.

          “Investment Company Act” means the Investment Company Act of 1940 and any statute successor
thereto, in each case as amended from time to time.

          “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law, including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest
in and any filing of or agreement to give any financing statement under the Uniform Commercial Code
(or equivalent statutes) of any jurisdiction.

          “Maturity”, when used with respect to any Security, means the date on which the principal of
such Security or an installment of principal becomes due and payable as therein or herein provided,
whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise.

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          “Notice of Default” means a written notice of the kind specified in Section 501(3).

          “Officer” means the Chairman of the Board, a Vice Chairman of the Board, the Chief Executive
Officer, the Chief Financial Officer, the Chief Legal Officer, a President, Vice President,
Treasurer, Assistant Treasurer, Secretary or an Assistant Secretary, of the Company.

          “Officers’ Certificate” means a certificate signed on behalf of the Company by the Chairman of
the Board, a Vice Chairman of the Board, the Chief Executive Officer, the Chief Financial Officer,
the President or a Vice President, and by the Chief Legal Officer, the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee.
One of the officers signing an Officers’ Certificate given pursuant to Section 1004 shall be the
principal executive, financial or accounting officer of the Company.

          “Opinion of Counsel” means a written opinion of legal counsel, who may be an employee of, or
outside counsel for, the Company and who shall be acceptable to the Trustee.

          “Original Issue Discount Security” means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of Maturity
thereof pursuant to this Indenture.

          “Outstanding”, when used with respect to Securities, means, as of the date of determination,
all Securities theretofore authenticated and delivered under this Indenture, except:

(a) Securities theretofore cancelled by the Trustee or delivered to the Trustee for
cancellation;

(b) Securities for whose payment or redemption money in the necessary amount has been
theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or
set aside and segregated in trust by the Company (if the Company shall act as its own Paying
Agent) for the Holders of such Securities; provided, however, that, if such Securities are to
be redeemed, notice of such redemption has been duly given pursuant to this Indenture or
provision therefor satisfactory to the Trustee has been made;

(c) Securities as to which Defeasance has been effected pursuant to Section 1302; and

(d) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of
which other Securities have been authenticated and delivered pursuant to this Indenture, other
than any such Securities in respect of which there shall have been presented to the Trustee
proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands
such Securities are valid obligations of the Company;

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provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given, made or taken any request, demand, authorization, direction,
notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an
Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the
principal thereof which would be due and payable as of such date upon acceleration of the Maturity
thereof to such date pursuant to Section 502, (B) if, as of such date, the principal amount payable
at the Stated Maturity of a Security is not determinable, the principal amount of such Security
which shall be deemed to be Outstanding shall be the amount as specified or determined as
contemplated by Section 301, (C) the principal amount of a Security denominated in one or more
foreign currencies or currency units which shall be deemed to be Outstanding shall be the U.S.
dollar equivalent, determined as of such date in the manner provided as contemplated by Section
301, of the principal amount of such Security (or, in the case of a Security described in Clause
(A) or (B) above, of the amount determined as provided in such Clause), and (D) Securities owned by
the Company or any other obligor upon the Securities or any Affiliate of the Company or of such
other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining
whether the Trustee shall be protected in relying upon any such request, demand, authorization,
direction, notice, consent, waiver or other action, only Securities of which a Responsible Officer
of the Trustee has actual knowledge are so owned shall be so disregarded. Securities so owned
which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to
the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of
the Company or of such other obligor.

          “Participant” means, with respect to the Depositary a Person who has an account with the
Depositary.

          “Paying Agent” means any Person authorized by the Company to pay the principal of or any
premium or interest on any Securities on behalf of the Company.

          “Permitted Liens” has the meaning specified in Section 1010.

          “Person” means any individual, corporation, partnership, limited liability company, joint
venture, trust, unincorporated organization or government or any agency or political subdivision of
a government or governmental agency.

          “Place of Payment”, when used with respect to the Securities of any series, means the place or
places where the principal of and any premium and interest on the Securities of that series are
payable as specified as contemplated by Section 301.

          “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security, and, for the purposes
of this definition, any Security authenticated and delivered under Section 306 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security.

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          “Redemption Date”, when used with respect to any Security to be redeemed, means the date fixed
for such redemption by or pursuant to this Indenture.

          “Redemption Price”, when used with respect to any Security to be redeemed, means the price at
which it is to be redeemed pursuant to this Indenture.

          “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities
of any series means the date specified for that purpose as contemplated by Section 301.

          “Responsible Officer”, when used with respect to the Trustee, means any officer of the Trustee
within the Corporate Trust Division of the Trustee (or any successor unit or department of the
Trustee) located at the Corporate Trust Office of the Trustee who has direct responsibility for the
administration of this Indenture and, for the purposes of Section 601(3)(B) and Section 602 (for
the purposes of Section 315(b) of the Trust Indenture Act), shall also include any officer of the
Trustee to whom any corporate trust matter is referred because of his knowledge of and familiarity
with the particular subject.

          “Sale and Leaseback Transaction” means any arrangement with any Person providing for the
leasing by the Company or any Subsidiary of any property which has been or is to be sold or
transferred by the Company or such Subsidiary to such Person, excluding (1) temporary leases for a
term, including renewals at the option of the lessee, of not more than three years, (2) leases
between the Company and a Subsidiary or between Subsidiaries of the Company, (3) leases of a
property executed by the time of, or within 12 months after the latest of, the acquisition, the
completion of construction or improvement, or the commencement of commercial operation of the
property, and (4) arrangements pursuant to any provision of law with an effect similar to the
former Section 168(f)(8) of the Internal Revenue Code of 1954, as amended.

          “Securities” means the Securities described in the first recital hereto and issued on the date
hereof. For all purposes of this Indenture, the term “Securities” shall include the Securities
initially issued on the date hereof and any other Securities issued after the date hereof under
this Indenture.

          “Securities Act” means the Securities Act of 1933 and any statute successor thereto, in each
case as amended from time to time.

          “Security Register” and “Security Registrar” have the respective meanings specified in Section
305.

          “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act.

          “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 307.

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          “Stated Maturity”, when used with respect to any Security or any installment of principal
thereof or interest thereon, means the date specified in such Security as the fixed date on which
the principal of such Security or such installment of principal or interest is due and payable.

          “Subsidiary” means (i) a corporation more than 50% of the outstanding voting stock of which is
owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the
Company and one or more other Subsidiaries or (ii) any other Person (other than a corporation) in
which at the date of determination of the Company, one or more Subsidiaries or the Company and one
or more Subsidiaries, directly or indirectly, has at least a majority ownership and power to direct
the policies, management and affairs of that Person. For the purposes of this definition, “voting
stock” means stock which ordinarily has voting power for the election of directors, whether at all
times or only so long as no senior class of stock has such voting power by reason of any
contingency.

          “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of
which this instrument was executed; provided, however, that in the event the Trust Indenture Act of
1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such
amendment, the Trust Indenture Act of 1939 as so amended.

          “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to
the Securities of any series shall mean the Trustee with respect to Securities of that series.

          “Uniform Commercial Code” means the Uniform Commercial Code as in effect in the relevant
jurisdiction from time to time. Unless otherwise specified, references to the Uniform Commercial
Code herein refer to the New York Uniform Commercial Code.

          “U.S. GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as have been approved by a significant segment of the
accounting profession, which are in effect from time to time.

          “U.S. Government Obligation” has the meaning specified in Section 1304.

          “U.S. Person” means a U.S. person as defined in Rule 902(k) under the Securities Act.

          “Value” means, with respect to a Sale and Leaseback Transaction, an amount equal to the net
present value of the lease payments with respect to the term of the lease remaining on the date as
of which the amount is being determined, without regard to any

9

 

renewal or extension options contained in the lease, discounted at the weighted average
interest rate on the debt securities of all series (including the yield to maturity on any Original
Issue Discount Securities) which are outstanding on the effective date of such Sale and Leaseback
Transaction.

          “Vice President”, when used with respect to the Company or the Trustee, means any vice
president, whether or not designated by a number or a word or words added before or after the title
“vice president”.

SECTION 102. Compliance Certificates and Opinions.

          Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
stating that all conditions precedent, if any, provided for in this Indenture (including any
covenant compliance with which constitutes a condition precedent) relating to the proposed action
have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all
such conditions precedent, if any, have been complied with, except that in the case of any such
application or request as to which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or request, no additional
certificate or opinion need be furnished and such other certificates and opinions as may be
required under the Trust Indenture Act. Each such certificate or opinion shall be given in the
form of an Officers’ Certificate, if to be given by an officer of the Company, or an Opinion of
Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture
Act and any other requirements set forth in this Indenture.

          Every certificate (other than a certificate pursuant to Section 314(a)(4) of the Trust
Indenture Act) or opinion with respect to compliance with a condition or covenant provided for in
this Indenture shall include,

     (1) a statement that each individual signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto;

     (2) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are based;

     (3) a statement that, in the opinion of each such individual, he has made such examination
or investigation as is necessary to enable him to express an informed opinion as to whether or
not such covenant or condition has been complied with; and

     (4) a statement as to whether, in the opinion of each such individual, such condition or
covenant has been complied with.

SECTION 103. Form of Documents Delivered to Trustee.

          In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by,

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or covered by the opinion of, only one such Person, or that they be so certified or covered by
only one document, but one such Person may certify or give an opinion with respect to some matters
and one or more other such Persons as to other matters, and any such Person may certify or give an
opinion as to such matters in one or several documents.

          Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such
officer knows, or in the exercise of reasonable care should know, that the certificate or opinion
or representations with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to
factual matters, upon a certificate or opinion of, or representations by, an officer or officers of
the Company stating that the information with respect to such factual matters is in the possession
of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that
the certificate or opinion or representations with respect to such matters are erroneous.

          Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may,
but need not, be consolidated and form one instrument.

SECTION 104. Acts of Holders; Record Dates.

          Any request, demand, authorization, direction, notice, consent, waiver or other action
provided or permitted by this Indenture to be given, made or taken by Holders of the Outstanding
Securities of any series, as the case may be, may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Holders in person or by an agent duly
appointed in writing, and, except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Trustee and, where it is hereby
expressly required, to the Company. Such instrument or instruments (and the action embodied
therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing
such instrument or instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to
Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in
this Section.

          The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness of such execution or by a certificate of a notary public or
other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or
affidavit shall also constitute sufficient proof of his authority. The fact and date of the
execution of any such instrument or writing, or the authority of the Person executing the same, may
also be proved in any other manner which the Trustee deems sufficient.

          The ownership of Securities shall be proved by the Security Register.

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          Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and the Holder of every
Security issued upon the registration of transfer thereof or in exchange therefor or in lieu
thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company
in reliance thereon, whether or not notation of such action is made upon such Security.

          The Company may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to give, make or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided or permitted by this
Indenture to be given, made or taken by Holders of Securities of such series, provided, however,
that the Company may not set a record date for, and the provisions of this paragraph shall not
apply with respect to, the giving or making of any notice, declaration, request or direction
referred to in the next paragraph. If any record date is set pursuant to this paragraph, the
Holders of Outstanding Securities of the relevant series on such record date, and no other Holders,
shall be entitled to take the relevant action, whether or not such Holders remain Holders after
such record date; provided, however, that no such action shall be effective hereunder unless taken
on or prior to the applicable Expiration Date by Holders of the requisite principal amount of
Outstanding Securities of such series on such record date. Nothing in this paragraph shall be
construed to prevent the Company from setting a new record date for any action for which a record
date has previously been set pursuant to this paragraph (whereupon the record date previously set
shall automatically and with no action by any Person be cancelled and of no effect), and nothing in
this paragraph shall be construed to render ineffective any action taken by Holders of the
requisite principal amount of Outstanding Securities of the relevant series on the date such action
is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its
own expense, shall cause notice of such record date, the proposed action by Holders and the
applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities
of the relevant series in the manner set forth in Section 106.

          The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of
Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to
institute proceedings referred to in Section 507(2) or (iv) any direction referred to in Section
512, in each case with respect to Securities of such series. If any record date is set pursuant to
this paragraph, the Holders of Outstanding Securities of such series on such record date, and no
other Holders, shall be entitled to join in such notice, declaration, request or direction, whether
or not such Holders remain Holders after such record date; provided, however, that no such action
shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders
of the requisite principal amount of Outstanding Securities of such series on such record date.
Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date
for any action for which a record date has previously been set pursuant to this paragraph
(whereupon the record date previously set shall automatically and with no action by any Person be
cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective
any action taken by Holders of the requisite principal amount of

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Outstanding Securities of the relevant series on the date such action is taken. Promptly
after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense,
shall cause notice of such record date, the proposed action by Holders and the applicable
Expiration Date to be given to the Company in writing and to each Holder of Securities of the
relevant series in the manner set forth in Section 106.

          With respect to any record date set pursuant to this Section, the party hereto which sets such
record dates may designate any day as the “Expiration Date” and from time to time may change the
Expiration Date to any earlier or later day; provided, however, that no such change shall be
effective unless notice of the proposed new Expiration Date is given to the other party hereto in
writing, and to each Holder of Securities of the relevant series in the manner set forth in Section
106, on or prior to the existing Expiration Date. If an Expiration Date is not designated with
respect to any record date set pursuant to this Section, the party hereto which set such record
date shall be deemed to have initially designated the 180th day after such record date as the
Expiration Date with respect thereto, subject to its right to change the Expiration Date as
provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than
the 180th day after the applicable record date.

          Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with
regard to any particular Security may do so with regard to all or any part of the principal amount
of such Security or by one or more duly appointed agents each of which may do so pursuant to such
appointment with regard to all or any part of such principal amount.

SECTION 105. Notices, Etc., to Trustee and Company.

          Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or
other document provided or permitted by this Indenture to be made upon, given or furnished to, or
filed with,

     (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its office at
U.S. Bank National Association, 633 West Fifth Street, 24th Floor, LM-CA-T24T, Los Angeles, CA
90071, Attn: Corporate Trust Services (Life Technologies 2010 Indenture), or

     (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company addressed to it at the address of its principal office
specified in the first paragraph of this instrument or at any other address previously
furnished in writing to the Trustee by the Company.

SECTION 106. Notice to Holders, Waiver.

          Where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each Holder affected by such event, at his address

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as it appears in the Security Register, not later than the latest date (if any), and not
earlier than the earliest date (if any), prescribed for the giving of such notice (except notes
held in book entry form may be given by electronic transmission). In any case where notice to
Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so
mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other
Holders. Where this Indenture provides for notice in any manner, such notice may be waived in
writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with
the Trustee, but such filing shall not be a condition precedent to the validity of any action taken
in reliance upon such waiver.

          In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice by mail, then such notification as shall be made with
the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

SECTION 107. Conflict with Trust Indenture Act.

          If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture
Act which is required under such Act or deemed to be a part of and govern this Indenture, such
required or deemed provision shall control. If any provision of this Indenture modifies or
excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter
provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case
may be.

SECTION 108. Effect of Headings and Table of Contents.

          The Article and Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

SECTION 109. Successors and Assigns.

          All covenants and agreements in this Indenture by the Company shall bind its successors and
assigns, whether so expressed or not.

SECTION 110. Separability Clause.

          In case any provision in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

SECTION 111. Benefits of Indenture.

          Nothing in this Indenture or in the Securities, express or implied, shall give to any Person,
other than the parties hereto and their successors hereunder and the Holders, any benefit or any
legal or equitable right, remedy or claim under this Indenture.

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SECTION 112. Governing Law.

          THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK (INCLUDING WITHOUT LIMITATION SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW OR ANY SUCCESSOR TO SUCH STATUTE). THE TRUSTEE AND THE COMPANY AGREE TO SUBMIT TO
THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE BOROUGH
OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO
THIS INDENTURE OR THE SECURITIES. THIS INDENTURE IS SUBJECT TO THE PROVISIONS OF THE TRUST
INDENTURE ACT THAT ARE REQUIRED TO BE PART OF THIS INDENTURE AND SHALL, TO THE EXTENT APPLICABLE,
BE GOVERNED BY SUCH PROVISIONS.

          THE TRUSTEE AND THE COMPANY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS
THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF,
UNDER OR IN CONNECTION WITH THIS INDENTURE OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER ORAL OR WRITTEN) OR ACTIONS OF THE TRUSTEE OR THE COMPANY RELATING THERETO. THE COMPANY
ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION
AND THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE TRUSTEE AND THE HOLDERS ENTERING INTO THIS
INDENTURE.

SECTION 113. Legal Holidays.

          In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities (other than a provision of any Security which
specifically states that such provision shall apply in lieu of this Section)) payment of interest
or principal (and premium, if any) need not be made at such Place of Payment on such date, but may
be made on the next succeeding Business Day at such Place of Payment with the same force and effect
as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity; and no
interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or
Stated Maturity, as the case may be, if payment is made on the next succeeding Business Day.

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ARTICLE TWO

Security Forms

SECTION 201. Form and Dating.

          The Securities of each series and the Trustee’s certificate of authentication thereon shall be
in substantially the form set forth in Exhibit A hereto, the terms of which are incorporated in and
made a part of this Indenture, or in such other form as shall be established by or pursuant to a
Board Resolution or in one or more indentures supplemental hereto, in each case with such
appropriate insertions, omissions, substitutions and other variations as are required or permitted
by this Indenture, and may have such letters, numbers or other marks of identification and such
legends or endorsements placed thereon as may be required to comply with the rules of any
securities exchange or Depositary therefor or as may, consistently herewith, be determined by the
officers executing such Securities, as evidenced by their execution thereof. If the form of
Securities of any series is established by action taken by or pursuant to a Board Resolution, a
copy of an appropriate record of such action shall be certified by the Secretary or an Assistant
Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company
Order contemplated by Section 202 for the authentication and delivery of such Securities. Unless
otherwise provided as contemplated by Section 301 with respect to any series of Securities, each
Security shall be dated the date of its authentication. Unless otherwise provided as contemplated
by Section 301 with respect to any series of Securities, the Securities shall be issuable only in
denominations of $2,000 and integral multiples of $1,000 in excess thereof.

          The Definitive Securities shall be printed, lithographed or engraved on steel engraved borders
or may be produced in any other manner, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities. Securities issued in global form
shall be substantially in the form of Exhibit A attached hereto (including the Global Security
Legend thereon and the “Schedule of Exchanges of Interests in the Global Security” attached
thereto). Securities issued in definitive form shall be substantially in the form of Exhibit A
attached hereto (but without the Global Security Legend thereon and without the “Schedule of
Exchanges of Interests in the Global Security” attached thereto). Each Global Security shall
represent such of the outstanding Securities as shall be specified therein and each shall provide
that it shall represent the aggregate principal amount of outstanding Securities from time to time
endorsed thereon and that the aggregate principal amount of outstanding Securities represented
thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and
redemptions. Any endorsement of a Global Security to reflect the amount of any increase or
decrease in the aggregate principal amount of outstanding Securities represented thereby shall be
made by the Trustee in accordance with instructions given by the Holder thereof as required by
Section 203 hereof.

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SECTION 202. Execution and Authentication.

          Two Officers of the Company shall sign the Securities for the Company, by manual or facsimile
signature.

          If an Officer of the Company whose signature is on a Security no longer holds that office at
the time such Security is authenticated, such Security shall be valid nevertheless.

          A Security shall not be valid or obligatory, or entitled to any benefit under this Indenture,
unless there appears on such Security a certificate of authentication substantially in the form
provided for herein manually executed by the Trustee or an Authentication Agent. The manual
signature of the Trustee shall be conclusive evidence, and the only evidence, that such Security
has been authenticated and delivered in accordance with the terms of this Indenture and is entitled
to the benefits of this Indenture.

          The Trustee, upon a Company Order, shall authenticate and deliver Securities for original
issue in an aggregate principal amount specified in such order. Such Company Order shall specify
the principal amount of the Securities to be authenticated, the date on which the original issue
of Securities is to be authenticated, the number of separate Securities to be authenticated, the
registered Holder of each Security and delivery instructions. The aggregate principal amount of
Securities which may be authenticated and delivered under this Indenture is unlimited.

          If the form or terms of the Securities of the series have been established by or pursuant to
one or more Board Resolutions or one or more indentures supplemental hereto as permitted by
Sections 201 and 301, in authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled
to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of
Counsel stating,

     (1) if the form of such Securities has been established by or pursuant to Board Resolution
or one or more indentures supplemental hereto as permitted by Section 201, that such form has
been established in conformity with the provisions of this Indenture;

     (2) if the terms of such Securities have been established by or pursuant to Board
Resolution or one or more indentures supplemental hereto as permitted by Section 301, that such
terms have been established in conformity with the provisions of this Indenture;

     (3) that such Securities, when authenticated and delivered by the Trustee and issued by
the Company in the manner and subject to any conditions specified in such Opinion of Counsel,
will constitute valid and legally binding obligations of the Company, enforceable in accordance
with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of

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general applicability relating to or affecting creditors’ rights and to general equity
principles;

     (4) that all laws and requirements in respect of the execution and delivery by the Company
of such Securities, any coupons and of the supplemental indentures, if any, have been complied
with and that authentication and delivery of such Securities and any coupons and the execution
and delivery of the supplemental indenture, if any, by the Trustee will not violate the terms
of the Indenture;

     (5) that the Company has the corporate power to issue such Securities and any coupons, and
has duly taken all necessary corporate action with respect to such issuance; and

     (6) that the issuance of such Securities and any coupons will not contravene the articles
of incorporation or by-laws of the Company or result in any violation of any of the terms or
provisions of any law or regulation or of any indenture, mortgage or other agreement known to
such Counsel by which the Company is bound.

If such form or terms have been so established, the Trustee shall not be required to authenticate
such Securities if the issue of such Securities pursuant to this Indenture will affect the
Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in
a manner which is not reasonably acceptable to the Trustee.

          Notwithstanding the provisions of Section 301 and of the preceding paragraph, if all
Securities of a series are not to be originally issued at one time, it shall not be necessary to
deliver the Officers’ Certificate otherwise required pursuant to Section 301 or the Company Order
and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the
authentication of each Security of such series if such documents are delivered at or prior to the
authentication upon original issuance of the first Security of such series to be issued.

          Notwithstanding the foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall deliver such Security to
the Trustee for cancellation as provided in Section 309, for all purposes of this Indenture such
Security shall be deemed never to have been authenticated and delivered hereunder and shall never
be entitled to the benefits of this Indenture.

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SECTION 203. Transfer and Exchange.

     (a) Transfer and Exchange of Global Securities. A Global Security may not be transferred
as a whole except by the Depositary to a nominee of the Depositary, by a nominee of the
Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or
any such nominee to a successor Depositary or a nominee of such successor Depositary. The
Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with
respect to the Global Securities. Global Securities shall be exchanged by the Company for
Definitive Securities if:

     (i) the Company delivers to the Trustee notice from the Depositary that it is
unwilling or unable to continue to act as Depositary or that it is no longer a clearing
agency registered under the Exchange Act and, in either case, a successor Depositary is not
appointed by the Company within 120 days after the date of such notice from the Depositary;
or

     (ii) the Company in its sole discretion determines that the Global Securities (in
whole but not in part) should be exchanged for Definitive Securities and delivers written
notice to such effect to the Trustee; or

     (iii) there shall have occurred and be continuing an Event of Default under this
Indenture and the Trustee has received a request from the Depositary or any Holder to issue
Definitive Securities.

     Upon the occurrence of any of the preceding events in (i) or (ii) above, the Company will
notify the Trustee in writing that, upon surrender by the Participants of their interest in
such Global Securities, Definitive Securities will be issued to each Person that such
Participants and the Depositary identify as being the beneficial owner of the related
Securities. Global Securities also may be exchanged or replaced, in whole or in part, as
provided in Sections 304 and 306 hereof. Except as otherwise provided above in this Section
203, every Security authenticated and delivered in exchange for, or in lieu of, a Global
Security or any portion thereof, pursuant to this Section 203 or Section 304 or 306 hereof,
shall be authenticated and delivered in the form of, and shall be, a Global Security. A Global
Security may not be exchanged for another Security other than as provided in this Section
203(a).

     (b) Legends. The following legend shall appear on the face of all Global Securities
issued under this Indenture unless specifically stated otherwise in the applicable provisions
of this Indenture:

“THIS GLOBAL SECURITY IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITARY (AS
DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS
NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT
TRANSFERABLE TO ANY PERSON

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UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS GLOBAL SECURITY MAY BE EXCHANGED
PURSUANT TO SECTION 203(a) OF THE INDENTURE, (II) THIS GLOBAL SECURITY MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE
AND (III) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH
THE PRIOR WRITTEN CONSENT OF THE COMPANY.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

     (c) General Provisions Relating to Transfers and Exchanges.

     (i) To permit registrations of transfers and exchanges, the Company shall execute and
the Trustee shall authenticate Global Securities and Definitive Securities upon the
Company’s order or at the Security Registrar’s request.

     (ii) No service charge shall be made to a Holder of a Definitive Security for any
registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any transfer tax or similar governmental charge payable in connection
therewith (other than any such transfer taxes or similar governmental charge payable upon
exchange or transfer pursuant to Section 304 hereof).

     (iii) The Security Registrar shall not be required to register the transfer of or
exchange any Security selected for redemption in whole or in part, except the unredeemed
portion of any Security being redeemed in part.

     (iv) All Global Securities and Definitive Securities issued upon any registration of
transfer or exchange of Global Securities or Definitive Securities shall be the valid and
legally binding obligations of the Company, evidencing the same debt, and entitled to the
same benefits under this Indenture, as the Global Securities or Definitive Securities
surrendered upon such registration of transfer or exchange.

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     (v) The Company shall not be required (A) to issue, to register the transfer of or to
exchange any Securities during a period beginning at the opening of business on a Business
Day 15 days before the day of any selection of Securities for redemption under Section 1103
hereof and ending at the close of business on the date of the mailing of notice of such
redemption or (B) to register the transfer of or to exchange any Security so selected for
redemption in whole or in part, except the unredeemed portion of any Security being
redeemed in part or (C) to register the transfer of or to exchange a Security between a
record date for the payment of interest and the next succeeding interest payment date.

     (vi) Prior to due presentment for the registration of a transfer of any Security, the
Trustee, any Agent and the Company may deem and treat the Person in whose name any Security
is registered as the absolute owner of such Security for the purpose of receiving payment
of principal of and interest on such Securities and for all other purposes, and none of the
Trustee, any Agent or the Company shall be affected by notice to the contrary.

     (vii) The Trustee shall authenticate Global Securities and Definitive Securities upon
original issuance in accordance with the provisions of Section 202 hereof.

     (d) No Obligation of the Trustee.

     (i) None of the Trustee, any Paying Agent or the Security Registrar shall have any
responsibility or obligation to any beneficial owner in a Global Security, a member of, or
a participant in the Depositary or other Person with respect to the accuracy of the records
of the Depositary or its nominee or of any participant or member thereof, with respect to
any ownership interest in the Securities or with respect to the delivery to any
participant, member, beneficial owner or other Person (other than the Depositary) of any
notice (including any notice of redemption) or the payment of any amount, under or with
respect to such Securities. All notices and communications to be given to the Holders and
all payments to be made to Holders under the Securities shall be given or made only to or
upon the order of the registered Holders (which shall be the Depositary or its nominee in
the case of the Global Security). The rights of beneficial owners in the Global Security
shall be exercised only through the Depositary subject to the applicable rules and
procedures of the Depositary. The Trustee, any Paying Agent and the Security Registrar may
rely and shall be fully protected in relying upon information furnished by the Depositary
with respect to its members, participants and any beneficial owners. The Trustee, each
Paying Agent and the Security Registrar shall be entitled to deal with any depositary
(including the Depositary), and any nominee thereof, that is the Holder of any Global
Security for all purposes of this Indenture relating to such global Security (including the
payment of principal, premium, if any, and interest and additional amounts, if any, and the
giving of instructions or directions by or to the owner or holder of a beneficial ownership
interest in such Global Security) as the sole Holder of such Global Security and shall have
no obligations to the beneficial owners thereof.

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None of the Trustee, any Paying Agent or the Security Registrar shall have any
responsibility or liability for any acts or omissions of any such depositary with respect
to such Global Security, for the records of any such depositary, including records in
respect of beneficial ownership interests in respect of any such Global Security, for any
transactions between such depositary and any participant in such depositary or between or
among any such depositary, any such participant and/or any holder or owner of a beneficial
interest in such Global Security or for any transfers of beneficial interests in any such
Global Security.

     (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under this Indenture or under
applicable law with respect to any transfer of any interest in any Security (including any
transfers between or among Depositary participants, members or beneficial owners in the
Global Security) other than to make any required delivery of such certificates and other
documentation or evidence as are expressly required by, and to do so if and when expressly
required by, the terms of this Indenture, and to examine the same to determine substantial
compliance as to form with the express requirements hereof.

ARTICLE THREE

The Securities

SECTION 301. Amount Unlimited; Issuable in Series.

          The aggregate principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited.

          The Securities may be issued in one or more series. There shall be established in or pursuant
to a Board Resolution and, subject to Section 202, set forth, or determined in the manner provided,
in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to
the issuance of Securities of any series,

     (1) the title of the Securities of the series (which shall distinguish the Securities of
the series from Securities of any other series);

     (2) any limit upon the aggregate principal amount of the Securities of the series which
may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Section 304, 305, 306, 906 or 1107 and except for any
Securities which, pursuant to Section 202, are deemed never to have been authenticated and
delivered hereunder);

     (3) the Person to whom any interest on a Security of the series shall be payable, if other
than the Person in whose name that Security (or one or more Predecessor

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Securities) is registered at the close of business on the Regular Record Date for such
interest;

     (4) the date or dates on which the principal of any Securities of the series is payable;

     (5) the rate or rates at which any Securities of the series shall bear interest, if any,
the date or dates from which any such interest shall accrue, the Interest Payment Dates on
which any such interest shall be payable and the Regular Record Date for any such interest
payable on any Interest Payment Date;

     (6) the place or places where the principal of and any premium and interest on any
Securities of the series shall be payable;

     (7) the period or periods within which, the price or prices at which and the terms and
conditions upon which any Securities of the series may be redeemed, in whole or in part, at the
option of the Company and, if other than by a Board Resolution, the manner in which any
election by the Company to redeem the Securities shall be evidenced;

     (8) the obligation, if any, of the Company to redeem or purchase any Securities of the
series pursuant to any sinking fund or analogous provisions or at the option of the Holder
thereof and the period or periods within which, the price or prices at which and the terms and
conditions upon which any Securities of the series shall be redeemed or purchased, in whole or
in part, pursuant to such obligation;

     (9) if other than denominations of $2,000 and any integral multiple of $1,000 in excess
thereof, the denominations in which any Securities of the series shall be issuable;

     (10) if the amount of principal of or any premium or interest on any Securities of the
series may be determined with reference to an index or pursuant to a formula, the manner in
which such amounts shall be determined,

     (11) if other than the currency of the United States of America, the currency, currencies
or currency units in which the principal of or any premium or interest on any Securities of the
series shall be payable and the manner of determining the equivalent thereof in the currency of
the United States of America for any purpose, including for purposes of the definition of
“Outstanding” in Section 101;

     (12) if the principal of or any premium or interest on any Securities of the series is to
be payable, at the election of the Company or the Holder thereof, in one or more currencies or
currency units other than that or those in which such Securities are stated to be payable, the
currency, currencies or currency units in which the principal of or any premium or interest on
such Securities as to which such election is made shall be payable, the periods within which
and the terms and conditions upon which such election is to be made and the amount so payable
(or the manner in which such amount shall be determined);

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     (13) if other than the entire principal amount thereof, the portion of the principal
amount of any Securities of the series which shall be payable upon declaration of acceleration
of the Maturity thereof pursuant to Section 502;

     (14) if the principal amount payable at the Stated Maturity of any Securities of the
series will not be determinable as of any one or more dates prior to the Stated Maturity, the
amount which shall be deemed to be the principal amount of such Securities as of any such date
for any purpose thereunder or hereunder, including the principal amount thereof which shall be
due and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be
Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in
which such amount deemed to be the principal amount shall be determined);

     (15) if applicable, that the Securities of the series, in whole or any specified part,
shall be defeasible pursuant to Section 1302 or Section 1303 or both such Sections and, if
other than by a Board Resolution, the manner in which any election by the Company to defease
such Securities shall be evidenced;

     (16) if applicable, that any Securities of the series shall be issuable in whole or in
part in the form of one or more Global Securities and, in such case, the respective
Depositories for such Global Securities, the form of any legend or legends which shall be borne
by any such Global Security in addition to or in lieu of that set forth in Section 203 and any
circumstances in addition to or in lieu of those set forth in Clause (ii) of the last paragraph
of Section 203(a) in which any such Global Security may be exchanged in whole or in part for
Securities registered, and any transfer of such Global Security in whole or in part may be
registered, in the name or names of Persons other than the Depositary for such Global Security
or a nominee thereof;

     (17) any addition to or change in the Events of Default which applies to any Securities of
the series and any change in the right of the Trustee or the requisite Holders of such
Securities to declare the principal amount thereof due and payable pursuant to Section 502;

     (18) any addition to or change in the covenants set forth in Article Ten which applies to
Securities of the series; and

     (19) any other terms of the series (which terms shall not be inconsistent with the
provisions of the Trust Indenture Act and this Indenture, except as permitted by Section
901(5)).

          All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to the Board Resolution referred to above
and (subject to Section 202) set forth, or determined in the manner provided, in the Officers’
Certificate referred to above or in any such indenture supplemental hereto.

          If any of the terms of the series are established by action taken by or pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by the

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Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to
the delivery of the Officers’ Certificate setting forth the terms of the series.

SECTION 302. Intentionally Omitted.

SECTION 303. Intentionally Omitted.

SECTION 304. Temporary Securities.

          Pending the preparation of definitive Securities of any series, the Company may execute and,
upon receipt of Company Order the Trustee shall authenticate and deliver, temporary Securities
which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the Definitive Securities in lieu of which they are
issued and with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities may determine, as evidenced by their execution of such
Securities. Such temporary Securities may be in global form.

          If temporary Securities of any series are issued, the Company will cause Definitive Securities
of that series to be prepared without unreasonable delay. After the preparation of Definitive
Securities of such series, the temporary Securities of such series shall be exchangeable for
Definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the
Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or
more Definitive Securities of the same series, of any authorized denominations and of like tenor
and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall
in all respects be entitled to the same rights, benefits and privileges under this Indenture as
Definitive Securities of such series and tenor.

SECTION 305. Registration, Registration of Transfer and Exchange.

          The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register
(the register maintained in such office or agency and in any other office or agency of the Company
in a Place of Payment being herein sometimes collectively referred to as the “Security Register”)
in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for
the registration of Securities and of transfers of Securities. The Trustee is hereby initially
appointed “Security Registrar” for the purpose of registering Securities and transfers of
Securities as herein provided.

          Except as otherwise specified or contemplated by Section 301 with respect to the Securities of
any series, upon surrender for registration of transfer of any Security of such series at the
office or agency of the Security Register in a Place of Payment for that series, the Company shall
execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Securities of the same series, of authorized denominations and of
like tenor and aggregate principal amount.

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          Except as otherwise specified or contemplated by Section 301 with respect to the Securities of
any series, any Security of such series may be exchanged at the option of the Holder, for one or
more new Securities of the same series, of authorized denominations and of like tenor and aggregate
principal amount, upon surrender of the Securities to be exchanged at any such office or agency.
Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee
shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to
receive.

          All Securities delivered upon any registration of transfer or exchange of Securities shall be
valid obligations of the Company, evidencing the same debt, and entitled to the benefits under this
Indenture, as the Securities surrendered upon such registration of transfer or exchange.

          Every Security presented or surrendered for registration of transfer or for exchange shall (if
so required by the Company, the Trustee or the Security Registrar) be duly endorsed or shall be
accompanied by a written instrument of transfer in form satisfactory to the Company, the Trustee or
the Security Registrar, as the case may be, duly executed by the Holder thereof or his attorney
duly authorized in writing.

          Unless otherwise specified as contemplated by Section 301 with respect to Securities of any
series, no service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities.

SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities.

          If any mutilated security is surrendered to the Trustee, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and
of like tenor and principal amount and bearing a number not contemporaneously outstanding.

          If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be
reasonably required by them to save each of them and any agent of either of them harmless, then, in
the absence of notice to the Company or the Trustee that such Security has been acquired by a bona
fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu
of any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor
and principal amount and bearing a number not contemporaneously outstanding. If the Company
becomes aware that any Security replaced pursuant to the foregoing sentence had previously been
acquired by a bonafide purchaser, it shall notify the Trustee in writing.

          In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay
such Security.

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          Upon the issuance of any new Security under this Section, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

          Every new Security of any series issued pursuant to this Section in lieu of any mutilated,
destroyed, lost or stolen Security shall constitute an original additional contractual obligation
of the Company, whether or not the destroyed, lost or stolen Security shall be at any time
enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of that series duly issued hereunder.

          The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities.

SECTION 307. Payment of Interest; Interest Rights Preserved.

          Except as otherwise provided as contemplated by Section 301 with respect to any series of
Securities, interest on any Security which is payable, and is punctually paid or duly provided for,
on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for
such interest.

          Any interest on any Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date and, if applicable, interest on such defaulted
interest (to the extent lawful) at the rate specified in the Securities of such series (such
defaulted interest, together with the interest thereon, “Defaulted Interest”) shall forthwith cease
to be payable to the Holder on the relevant Regular Record Date by virtue of having been such
Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as
provided in Clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the Trustee
in writing of the amount of Defaulted Interest proposed to be paid on each Security of such
series and the date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for
such deposit prior to the date of the proposed payment, such money when deposited to be held in
trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause
provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the
date of the proposed payment and not less than 10 days after the receipt by the Trustee of the
notice of the proposed payment. The Trustee shall

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promptly notify the Company of such Special Record Date and, in the name and at the
expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor to be given to each Holder of Securities of such series in
the manner set forth in Section 106, not less than 10 days prior to such Special Record Date.
Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor
having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the
Securities of such series (or their respective Predecessor Securities) are registered at the
close of business on such Special Record Date and shall no longer be payable pursuant to the
following Clause (2).

     (2) The Company may make payment of any Defaulted Interest on the Securities of any series
in any other lawful manner not inconsistent with the requirements of any securities exchange on
which such Securities may be listed, and upon such notice as may be required by such exchange,
if, after notice given by the Company to the Trustee of the proposed payment pursuant to this
Clause, such manner of payment shall be deemed practicable by the Trustee.

          Subject to the foregoing provisions of this Section, each Security delivered under this
Indenture upon registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such
other Security.

SECTION 308. Persons Deemed Owners.

          Prior to due presentment of a Security for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name such Security is
registered as the absolute owner of such Security for the purpose of receiving payment of principal
of and premium, if any, and (subject to Sections 305 and 307) interest, if any, on such Security
and for all other purposes whatsoever, whether or not such Security be overdue, and neither the
Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the
contrary.

SECTION 309. Cancellation.

          All Securities surrendered for payment, redemption, registration of transfer or exchange or
for credit against any sinking fund payment shall, if surrendered to any Person other than the
Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any
time deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the
Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities
previously authenticated hereunder which the Company has not issued and sold, and all Securities so
delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu
of or in exchange for any Securities cancelled as provided in this Section, except as expressly
permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed in
accordance with the Trustee’s then customary

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procedures. If requested by the Company, certification of the disposition of all cancelled
Securities shall be delivered to the Company.

SECTION 310. Computation of Interest.

          Except as otherwise specified as contemplated by Section 301 for Securities of any series,
interest on the Securities of each series shall be computed on the basis of a 360-day year of
twelve 30-day months.

SECTION 311. CUSIP Numbers.

          The Company in issuing the Securities may use “CUSIP” and/or other similar numbers (if then
generally in use), and, if so, the Trustee shall use “CUSIP” and/or such other numbers in notices
of redemption or exchange as a convenience to Holders; provided that any such notice may state that
no representation is made as to the correctness of such numbers either as printed on the Securities
or as contained in any notice of a redemption or exchange and that reliance may be placed only on
the other identification numbers printed on the Securities, and any such redemption shall not be
affected by any defect in or omission of such numbers. The Company will promptly notify the
Trustee of any change in the “CUSIP” and/or such other numbers.

ARTICLE FOUR

Satisfaction and Discharge

SECTION 401. Satisfaction and Discharge of Indenture.

          This Indenture shall upon Company Request cease to be of further effect with respect to any
series of Securities specified in such Company Request (except as to any surviving rights of
registration of transfer or exchange of Securities of such series expressly provided for herein or
pursuant thereto), and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture as to such series, when

     (1) either

     (A) all Securities of such series theretofore authenticated and delivered (other than
(i) Securities which have been destroyed, lost or stolen and which have been replaced or
paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore
been deposited in trust or segregated and held in trust by the Company and thereafter
repaid to the Company or discharged from such trust, as provided in Section 1003) have been
delivered to the Trustee for cancellation; or

     (B) all such Securities of such series not theretofore delivered to the Trustee for
cancellation

     (i) have become due and payable, or

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     (ii) will become due and payable at their Stated Maturity within one year, or

     (iii) if redeemable at the option of the Company are to be called for
redemption within one year under arrangements satisfactory to the Trustee for the
giving of notice of redemption by the Trustee in the name, and at the expense, of
the Company,

and the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or
caused to be deposited with the Trustee as trust funds in trust for the purpose (A) cash in
U.S. dollars, or (B) U.S. Government Obligations which through the scheduled payment of
principal and interest in respect thereof in accordance with their terms will provide, not
later than one day before the due date of any payment, cash in U.S. dollars, or (C) a
combination thereof, in each case in an amount sufficient to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for cancellation,
for principal and any premium and interest to the date of such deposit (in the case of
Securities which have become due and payable) or to the Stated Maturity or Redemption Date,
as the case may be;

     (2) the Company has paid or caused to be paid all other sums payable hereunder by the
Company with respect to such series; and

     (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture with respect to such series have been complied
with.

          Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 607, the obligations of the Trustee to any Authenticating
Agent under Section 614 and, if money shall have been deposited with the Trustee pursuant to
subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 402 and
the last paragraph of Section 1003 shall survive.

SECTION 402. Application of Trust Money.

          Subject to the provisions of the last paragraph of Section 1003, all cash or U.S. Government
Obligations deposited with the Trustee pursuant to Section 401 shall be held in trust and applied
by it, in accordance with the provisions of the Securities and this Indenture, to the payment,
either directly or through any Paying Agent (including the Company acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and
interest for whose payment such cash or U.S. Government Obligations has been deposited with the
Trustee.

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ARTICLE FIVE

Remedies

          SECTION 501. Events of Default.

          “Event of Default”, wherever used herein with respect to Securities of any series, means any
one of the following events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body):

     (1) default in the payment of the principal or any premium on any Security of that series
when due (whether at maturity, upon acceleration, redemption or otherwise).

     (2) default for 30 days in the payment of interest on any Security of such series when
due.

     (3) failure by the Company to observe or perform any term of the Indenture (other than a
covenant or agreement in respect of which such non-compliance would otherwise be an Event of
Default and other than a covenant or agreement included in this Indenture not for the benefit
of such series) for a period of 60 days after the Company receives a written notice of default
stating that the Company is in breach. The notice must be sent by either the Trustee or
Holders of 25% of the principal amount of the Securities of the affected series.

     (4) default under any mortgage, indenture or instrument under which there may be issued or
by which there may be secured or evidenced any indebtedness of the Company (or the payment of
which is guaranteed by the Company), whether such indebtedness or guarantee now exists or is
created after the issue date of the Securities, if that default:

     (A) is caused by a failure to make any payment when due (whether by scheduled
maturity, required prepayment, acceleration, demand or otherwise, and after giving
effect to applicable grace periods) of such indebtedness (a “Payment Default”); or

     (B) results in the acceleration of such indebtedness prior to its scheduled
maturity,

and, in each case, the amount of any such indebtedness, together with the amount of any other
indebtedness under which there has been a Payment Default or the maturity of which has been so
accelerated, aggregates $50.0 million or more; provided, however, that, if the default under
the mortgage, indenture or instrument is cured by the Company, or waived by the holders of the
indebtedness, in each case as permitted by the governing mortgage, indenture or instrument,
then the Event of Default caused by such default will be deemed likewise to be cured or waived.

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     (5) failure by the Company to pay or discharge any final judgment or order (to the extent
any such judgment or order is not paid or covered by insurance provided by a reputable carrier
that has the ability to perform and has acknowledged coverage in writing) aggregating in excess
of $50.0 million which judgments are not paid, discharged or stayed for a period of 60 days.

     (6) the entry by a court having competent jurisdiction of:

     (A) a decree or order for relief in respect of the Company or any Significant
Subsidiary of the Company (or any Subsidiaries of the Company that together would
constitute a Significant Subsidiary) in an involuntary proceeding under any
applicable bankruptcy, insolvency, reorganization or other similar law and such
decree or order shall remain unstayed and in effect for a period of 60 consecutive
days; or

     (B) a decree or order adjudging the Company or any Significant Subsidiary of
the Company (or any Subsidiaries of the Company that together would constitute a
Significant Subsidiary) to be insolvent, or approving a petition seeking
reorganization, arrangement, adjustment or composition of the Company or any
Significant Subsidiary of the Company (or any Subsidiaries of the Company that
together would constitute a Significant Subsidiary) because of such insolvency and
such decree or order shall remain unstayed and in effect for a period of 60
consecutive days; or

     (C) a final and non-appealable order appointing a custodian, receiver,
liquidator, assignee, trustee or other similar official of the Company or any
Significant Subsidiary of the Company (or any Subsidiaries of the Company that
together would constitute a Significant Subsidiary), or ordering the winding up or
liquidation of the affairs of the Company or any Significant Subsidiary of the
Company (or any Subsidiaries of the Company that together would constitute a
Significant Subsidiary); or

     (7) the commencement by the Company or any Significant Subsidiary of the Company (or any
Subsidiaries of the Company that together would constitute a Significant Subsidiary) of a
voluntary proceeding under any applicable bankruptcy, insolvency, reorganization or other
similar law or of a voluntary proceeding seeking to be adjudicated insolvent or the consent by
the Company or any Significant Subsidiary of the Company (or any Subsidiaries of the Company
that together would constitute a Significant Subsidiary) to the entry of a decree or order for
relief in an involuntary proceeding under any applicable bankruptcy, insolvency, reorganization
or other similar law or to the commencement of any insolvency proceedings against it, or the
filing by the Company or any Significant Subsidiary of the Company (or any Subsidiaries of the
Company that together would constitute a Significant Subsidiary) of a petition or answer or
consent seeking reorganization, arrangement, adjustment or composition of the Company or any
Significant Subsidiary of the Company (or any

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Subsidiaries of the Company that together would constitute a Significant Subsidiary)
because of such insolvency or relief under any applicable law relating to the insolvency, or
the consent by the Company or any Significant Subsidiary of the Company (or any Subsidiaries of
the Company that together would constitute a Significant Subsidiary) to the filing of such
petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee or similar official of the Company or any Significant Subsidiary of the
Company (or any Subsidiaries of the Company that together would constitute a Significant
Subsidiary) or the making by the Company or any Significant Subsidiary of the Company (or any
Subsidiaries of the Company that together would constitute a Significant Subsidiary) of an
assignment for the benefit of creditors, or the taking of corporate action by the Company or
any Significant Subsidiary of the Company (or any Subsidiaries of the Company that together
would constitute a Significant Subsidiary) in furtherance of any such action; or

     (8) any other Event of Default provided as contemplated by Section 301 or 901 with respect
to Securities of that series.

SECTION 502. Acceleration of Maturity; Rescission and Annulment.

          If an Event of Default (other than an Event of Default specified in Section 501(6) or 501(7))
with respect to Securities of any series at the time Outstanding occurs and is continuing, then in
every such case the Trustee or the Holders of not less than 25% in principal amount of the
Outstanding Securities of that series may declare the principal amount of all the Securities of
that series (or, if any Securities of that series are Original Issue Discount Securities, such
portion of the principal amount of such Securities as may be specified by the terms thereof) to be
due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by
Holders), and upon any such declaration such principal amount (or specified amount) shall become
immediately due and payable. If an Event of Default specified in Section 501(6) or 501(7) occurs,
the principal amount of all the Securities (or, if any Securities of that series are Original Issue
Discount Securities, such portion of the principal amount of such Securities as may be specified by
the terms thereof) shall automatically, and without any declaration or other action on the part of
the Trustee or any Holder, become immediately due and payable.

          At any time after such a declaration of acceleration with respect to Securities of any series
has been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of
the Outstanding Securities of that series, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if:

     (1) the Company has paid or deposited with the Trustee a sum sufficient to pay

     (A) all overdue interest on all Securities of that series,

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     (B) the principal of (and premium, if any, on) any Securities of that series which
have become due otherwise than by such declaration of acceleration and any interest thereon
at the rate or rates prescribed therefor in such Securities,

     (C) to the extent that payment of such interest is lawful, interest upon overdue
interest at the rate or rates prescribed therefor in such Securities, and

     (D) all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel
and all other amounts due the Trustee under Section 607;

          and

     (2) all Events of Default with respect to Securities of that series, other than the
non-payment of the principal of (or premium, if any on) or interest on Securities of that
series which have become due solely by such declaration of acceleration, have been cured or
waived as provided in Section 513.

          No such rescission shall affect any subsequent default or impair any right consequent thereon.

SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee.

          The Company covenants that if

     (1) default is made in the payment of any interest on any Security when such interest
becomes due and payable and such default continues for a period of 30 days, or

     (2) default is made in the payment of the principal of (or premium, if any, on) any
Security at the Maturity thereof,

and such default is continuing, the Company will, upon demand of the Trustee, pay to it, for the
benefit of the Holders of such Securities, the whole amount then due and payable on such Securities
for principal and any premium and interest and, to the extent that payment of such interest shall
be legally enforceable, interest on any overdue principal and premium and on any overdue interest,
at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further
amount as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and all other amounts due the Trustee under Section 607.

          If an Event of Default with respect to Securities of any series occurs and is continuing, the
Trustee may in its discretion proceed to protect and enforce its rights and the rights of the
Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the specific enforcement of
any covenant or agreement in this

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Indenture or in aid of the exercise of any power granted herein, or to enforce any other
proper remedy.

SECTION 504. Trustee May File Proofs of Claim.

          In case of any judicial proceeding relative to the Company (or any other obligor upon the
Securities), its property or its creditors, the Trustee shall be entitled and empowered, by
intervention in such proceeding or otherwise, to take any and all actions authorized under the
Trust Indenture Act in order to have claims of the Holders and the Trustee (including any claim for
the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and all other amounts due the Trustee under Section 607) allowed in any such proceeding.
In particular, the Trustee shall be authorized to collect and receive any moneys or other property
payable or deliverable on any such claims and to distribute the same; and any custodian, receiver,
assignee, trustee, liquidator, sequestrator or other similar official in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the
event that the Trustee shall consent to the making of such payments directly to the Holders, to pay
to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 607.

          No provision of this Indenture shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding;
provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a
trustee in bankruptcy or similar official and be a member of a creditors’ or other similar
committee.

SECTION 505. Trustee May Enforce Claims Without Possession of Securities.

          All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof
in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be
brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered.

SECTION 506. Application of Money Collected.

          Any money collected by the Trustee pursuant to this Article and, after an Event of Default,
any money or other property distributable in respect of the Company’s obligations under this
Indenture, shall be applied in the following order, at the date or dates fixed by the Trustee and,
in case of the distribution of such money on account of

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principal or any premium or interest, upon presentation of the Securities and the notation
thereon of the payment if only partially paid and upon surrender thereof if fully paid:

     FIRST: To the payment of all amounts due the Trustee (including any predecessor Trustee)
under Section 607;

     SECOND: To the payment of the amounts then due and unpaid for principal of and any
premium and interest on the Securities in respect of which or for the benefit of which such
money has been collected, ratably, without preference or priority of any kind, according to the
amounts due and payable on such Securities for principal and any premium and interest,
respectively; and

     THIRD: To the Company or to such party as a court of competent jurisdiction shall direct;

     provided, however, in the event that default is made in the payment of any interest on any
Security when such interest becomes due and payable and such default continues for a period of
30 days, or default is made in the payment of the principal of or premium, if any, on any
Security on the Stated Maturity Date or Redemption Date thereof, the Trustee may reserve from
any money collected pursuant to this Article an amount sufficient, in the reasonable
determination of the Trustee, to cover the expenses, disbursements and advances of the Trustee
that may be incurred thereafter.

     The Trustee may fix a record date for the payment of any amounts to Holders pursuant to
this Section.

SECTION 507. Limitation on Suits.

          No Holder of any Security of any series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or
trustee, or for any other remedy hereunder, unless

     (1) such Holder has previously given written notice to the Trustee of a continuing Event
of Default with respect to the Securities of that series;

     (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of
that series shall have made written request to the Trustee to institute proceedings in respect
of such Event of Default in its own name as Trustee hereunder;

     (3) such Holder or Holders have offered to the Trustee reasonable indemnity, against the
costs, expenses and liabilities to be incurred in compliance with such request; and

     (4) the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding.

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to

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affect, disturb or prejudice the rights of any other Holders of Securities of the same series, or
to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce
any right under this Indenture, except in the manner herein provided and for the equal and ratable
benefit of all of Holders of Securities of the same series.

SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest.

          Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and any
premium and (subject to Section 307) interest on such Security on the respective Stated Maturities
expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute
suit for the enforcement of any such payment, and such rights shall not be impaired without the
consent of such Holder.

SECTION 509. Restoration of Rights and Remedies.

          If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has
been determined adversely to the Trustee or to such Holder, then and in every such case, subject to
any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and
remedies of the Trustee and the Holders shall continue as though no such proceeding had been
instituted.

SECTION 510. Rights and Remedies Cumulative.

          Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 306, no right or remedy
herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of
any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

SECTION 511. Delay or Omission Not Waiver.

          No delay or omission of the Trustee or of any Holder of any Securities to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a
waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by
this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

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SECTION 512. Control by Holders.

          With respect to the Securities of any series, the Holders of a majority in principal amount
of the Outstanding Securities of such series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred on the Trustee, with respect to the Securities of such series, provided,
however, that

     (1) such direction shall not be in conflict with any rule of law or with this Indenture;

     (2) such direction shall not involve the Trustee in personal liability; and

     (3) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction.

SECTION 513. Waiver of Past Defaults.

          The Holders of a majority in aggregate principal amount of the Outstanding Securities of any
effected series by written notice to the Company and the Trustee may, on behalf of the Holders of
the Securities of the effected series, rescind an acceleration or waive any existing Default or
Event of Default and its consequences under the Indenture, if the rescission would not conflict
with any judgment or decree, except:

     (1) in the payment of the principal of or any premium or interest on any Security of such
series; or

     (2) in respect of a covenant or provision hereof which under Article Nine cannot be
modified or amended without the consent of the Holder of each Outstanding Security of such
series affected.

          Upon any such waiver, such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other default or impair any right consequent thereon.

SECTION 514. Undertaking for Costs.

          In any suit for the enforcement of any right or remedy under this Indenture, or in any suit
against the Trustee for any action taken, suffered or omitted by it as Trustee, a court may require
any party litigant in such suit to file an undertaking to pay the costs of such suit, and may
assess costs against any such party litigant, in the manner and to the extent provided in the Trust
Indenture Act; provided, however, that neither this Section nor the Trust Indenture Act shall be
deemed to authorize any court to require such an undertaking or to make such an assessment in any
suit instituted by the Company.

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SECTION 515. Waiver of Usury, Stay or Extension Laws.

          The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any
usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may
affect the covenants or the performance of this Indenture; and the Company (to the extent that it
may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants
that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been
enacted.

ARTICLE SIX

The Trustee

SECTION 601. Certain Duties and Responsibilities.

     (1) Except during the continuance of an Event of Default with respect to any series of
Securities,

     (A) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture with respect to the Securities of such series, and
no implied covenants or obligations shall be read into this Indenture against the Trustee;
and

     (B) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture, but in the case of any such certificates or opinions which by any provision
hereof are specifically required to be furnished to the Trustee, the Trustee shall be under
a duty to examine the same to determine whether or not they conform to the requirements of
this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein).

     (2) In case an Event of Default with respect to any series of Securities has occurred and
is continuing, the Trustee shall exercise with respect to the Securities of such series such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill
in their exercise, as a prudent person would exercise or use under the circumstances in the
conduct of his or her own affairs.

     (3) No provision of this Indenture shall be construed to relieve the Trustee from
liability for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that

     (A) this Subsection shall not be construed to limit the effect of Subsections (1) and
(4) of this Section;

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          (B) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts; and

          (C) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in
principal amount of the Outstanding Securities of any series relating to the time, method
and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee, under this Indenture with respect
to the Securities of such series.

     (4) Notwithstanding the foregoing, no provision of this Indenture shall require the
Trustee to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights or powers,
if it shall have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.

     (5) Whether or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the Trustee
shall be subject to the provisions of this Section.

SECTION 602. Notice of Defaults.

          If a default occurs hereunder with respect to Securities of any series, the Trustee shall give
the Holders of Securities of such series notice of such default as and to the extent provided by
the Trust Indenture Act; provided, however, that in the case of any default of the character
specified in Section 501(4) with respect to Securities of such series, no such notice to Holders
shall be given until at least 30 days after the occurrence thereof. Except in the case of a
default or Event of Default in payment of principal of, premium, if any, or interest on any
Security, or in the payment of any sinking fund installment, the Trustee may withhold such notice
if and so long as a committee of its Responsible Officers in good faith determines that withholding
the notice is in the interest of the Holders of the Securities. For the purpose of this Section,
the term “default” means any event which is, or after notice or lapse of time or both would become,
an Event of Default with respect to Securities of such series.

SECTION 603. Certain Rights of Trustee.

          Subject to the provisions of Section 601:

     (1) the Trustee may conclusively rely and shall be fully protected in acting or refraining
from acting upon any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or
other paper or document believed by it to be genuine and to have been signed or presented by
the proper party or parties;

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     (2) any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order, and any resolution of the Board of Directors
shall be sufficiently evidenced by a Board Resolution;

     (3) whenever in the administration of this Indenture the Trustee shall deem it desirable
that a matter be proved or established prior to taking, suffering or omitting any action
hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the
absence of bad faith on its part, conclusively rely upon an Officers’ Certificate;

     (4) the Trustee may consult with counsel of its selection and the advice of such counsel
or any Opinion of Counsel shall be full and complete authorization and protection in respect of
any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon;

     (5) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders pursuant to
this Indenture, unless such Holders shall have offered to the Trustee security or
indemnity reasonably satisfactory to the Trustee against the costs, expenses and
liabilities which might be incurred by it in compliance with such request or direction;

     (6) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper
or document, but the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall determine to make such
further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney;

     (7) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder;

     (8) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken
by it in good faith and reasonably believed by it to be authorized or within the discretion or
rights or powers conferred upon it by this Indenture;

     (9) the Trustee shall not be deemed to have notice or be charged with knowledge of any
default (within the meaning of Section 602) or Event of Default with respect to the Securities
of any series for which it is acting as Trustee unless written notice of such default or Event
of Default, as the case may be, is received by a Responsible Officer of the Trustee at the
Corporate Trust Office of the Trustee from the Company, any other obligor upon such Securities
or by any Holder of such Securities, and such notice references the Securities and this
Indenture;

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     (10) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and
other Person employed to act hereunder;

     (11) the Trustee may request that the Company deliver an Officers’ Certificate setting
forth the names of individuals and/or titles of officers authorized at such time to take
specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any
persons authorized to sign an Officers’ Certificate, including any person specified as so
authorized in any such certificate previously delivered and not superseded;

     (12) the permissive right of the Trustee hereunder to take or omit to take any action
shall not be construed as a duty;

     (13) anything in this Indenture notwithstanding, in no event shall the Trustee be liable
for special, indirect, punitive or consequential loss or damage of any kind whatsoever
(including but not limited to loss of profit), even if the Company has been
advised as to the likelihood of such loss or damage and regardless of the form of action;
and

     (14) except with respect to the receipt of payments that the Company is required to make
pursuant to Section 1001 and any default or Event of Default information contained in the
Officers’ Certificate delivered to the Trustee pursuant to Section 1004, the Trustee shall have
no duty to review, ascertain or investigate the Company’s compliance with, or breach of any
representation, warranty or covenant made under this Indenture (unless it has an explicit duty
to do so under the terms of this Indenture).

SECTION 604. Not Responsible for Recitals or Issuance of Securities.

          The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Securities. Neither
the Trustee nor any Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

SECTION 605. May Hold Securities.

          The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other
agent of the Company, in its individual or any other capacity, may become the owner or pledgee of
Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same
rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar
or such other agent.

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SECTION 606. Money Held in Trust.

          Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for interest on, or for the
investment of, any money received by it hereunder except as otherwise agreed in writing with the
Company.

SECTION 607. Compensation and Reimbursement. The Company agrees

     (1) to pay to the Trustee from time to time such compensation as shall be agreed in
writing between the Company and the Trustee for all services rendered by it
hereunder (which compensation shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust);

     (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made by the Trustee
in accordance with any provision of this Indenture (including the reasonable compensation and
the expenses and disbursements of its agents and counsel), except any such expense,
disbursement or advance as may be attributable to its gross negligence or willful misconduct;
and

     (3) to the fullest extent permitted by law, to indemnify each of the Trustee, or any
predecessor Trustee, and their respective officers, employees, directors, shareholders and
agents, for, and to hold them harmless against, any and all loss, damage, claim, liability or
expense, including taxes (other than taxes based upon, measured by or determined by the income
of the Trustee or any predecessor Trustee), incurred without gross negligence or willful
misconduct on its part, arising out of or in connection with the acceptance or administration
of the trusts and its duties under this Indenture, including the enforcement of this provision,
including the reasonable costs and expenses of defending (including the reasonable compensation
and the expense and disbursements of its agents and counsel) themselves against any claim or
liability in connection with the exercise or performance of any of its powers or duties
hereunder.

          As security for the performance of the obligations of the Company under this Section, the
Trustee shall have a lien prior to the Securities upon all property and funds held or collected by
the Trustee as such, other than funds held in trust under Section 402.

          In addition and without prejudice to the rights provided to the Trustee under any of the
provisions of this Indenture, when the Trustee incurs expenses or renders services in connection
with an Event of Default specified in Section 501(5) or Section 501(6), the expenses (including the
reasonable charges and expenses of its counsel) and the compensation for the services are intended
to constitute expenses of administration under any applicable Federal and State bankruptcy,
insolvency or other similar law.

          The Company’s obligations under this Section 607 and the lien referred to in this Section 607
shall survive the resignation or removal of the Trustee, the discharge of the

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Company’s obligations
under Articles Four and Thirteen of this Indenture and/or the termination of this Indenture.

          “Trustee” for purposes of this Section 607 shall include any predecessor Trustee; provided,
however, that the negligence, bad faith or willful misconduct of any Trustee hereunder shall not
affect the rights of any other Trustee hereunder.

SECTION 608. Conflicting Interests.

          If the Trustee has or shall acquire a conflicting interest within the meaning of Section
310(b) of the Trust Indenture Act, the Trustee shall eliminate such interest, apply to the
Commission for permission to continue as trustee (if any of the Securities are registered pursuant
to the Securities Act) or resign, to the extent and in the manner provided by, and subject to the
provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by such Act,
the Trustee, by virtue of its capacity as Trustee of the Securities of any series shall not be
deemed to have a conflicting interest arising from its capacity as trustee in respect of the
Securities of any other series issued under this Indenture. Nothing herein shall prevent the
Trustee from filing with the Commission the application referred to in the second to last paragraph
of Section 310(b) of the Trust Indenture Act.

SECTION 609. Corporate Trustee Required; Eligibility.

          There shall at all times be one (and only one) Trustee hereunder with respect to the
Securities of each series, which may be Trustee hereunder for Securities of one or more other
series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act
as such and has a combined capital and surplus of at least $50,000,000 and has its Corporate Trust
Office in the United States of America. If any such Person publishes reports of condition at least
annually, pursuant to law or to the requirements of its supervising or examining authority, then
for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the
combined capital and surplus of such Person shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. If at any time the Trustee with
respect to the Securities of any series shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

SECTION 610. Resignation and Removal; Appointment of Successor.

          No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to
this Article shall become effective until the acceptance of appointment by the successor Trustee in
accordance with the applicable requirements of Section 611.

          The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance by a successor
Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after
the giving of such notice of resignation, the resigning

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Trustee may, at the expense of the Company,
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

          The Trustee may be removed at any time with respect to the Securities of any series by Act of
the Holders of a majority in principal amount of the Outstanding
Securities of such series, delivered to the Trustee and to the Company. If the instrument of
acceptance by a successor Trustee required by Section 611 shall not have been delivered to the
Trustee within 30 days after the Trustee’s receipt of such notice of removal, the departing Trustee
may, at the expense of the Company, petition any court of competent jurisdiction for the
appointment of a successor Trustee with respect to the Securities of such series.

          If at any time:

     (1) the Trustee shall fail to comply with Section 608 after written request therefor by
the Company or by any Holder who has been a bona fide Holder of a Security for at least six
months, or

     (2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign
after written request therefor by the Company or by any such Holder, or

     (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or
insolvent or a receiver of the Trustee or of its property shall be appointed or any public
officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation,

then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect
to all Securities, or (B) subject to Section 514, any Holder who has been a bona fide Holder of a
Security for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

          If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall
occur in the office of Trustee for any cause, with respect to the Securities of one or more series,
the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with
respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and
that at any time there shall be only one Trustee with respect to the Securities of any particular
series) and shall comply with the applicable requirements of Section 611. If, within one year
after such resignation, removal or incapability, or the occurrence of such vacancy, a successor
Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series delivered to the Company
and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section 611, become the
successor Trustee with respect to the Securities of such series

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and to that extent supersede the
successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities
of any series shall have been so appointed by the Company or the Holders and accepted appointment
in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of
such series for at least six months may, on behalf of himself and all others similarly situated,
petition
any court of competent jurisdiction for the appointment of a successor Trustee with respect to
the Securities of such series.

          The Company shall give notice of each resignation and each removal of the Trustee with respect
to the Securities of any series and each appointment of a successor Trustee with respect to the
Securities of any series to all Holders of Securities of such series in the manner provided in
Section 106. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

SECTION 611. Acceptance of Appointment by Successor.

          In case of the appointment hereunder of a successor Trustee with respect to all Securities,
every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and
to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or
removal of the retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring
Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such
successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder; subject, nevertheless, to its lien provided for in Section 607.

          In case of the appointment hereunder of a successor Trustee with respect to the Securities of
one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with
respect to the Securities of one or more series shall execute and deliver an indenture supplemental
hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain
such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each
successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to
the Securities of that or those series to which the appointment of such successor Trustee relates,
(2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts
and duties of the retiring Trustee with respect to the Securities of that or those series as to
which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and
(3) shall add to or change any of the provisions of this Indenture as shall be necessary, to
provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it
being understood that nothing herein or in such supplemental indenture shall constitute such
Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or
trusts hereunder separate and apart from any trust or trusts hereunder

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administered by any other
such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or
removal of the retiring Trustee shall become effective to the extent provided therein and each such
successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates; but, on request of the Company or any successor
Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee
all property and money held by such retiring Trustee hereunder with respect to the Securities of
that or those series to which the appointment of such successor Trustee relates; subject,
nevertheless, to its lien provided for in Section 607.

          Upon request of any such successor Trustee, the Company shall execute any and all instruments
for more fully and certainly vesting in and confirming to such successor Trustee all such rights,
powers and trusts referred to in the first or second preceding paragraph, as the case may be.

          No successor Trustee shall accept its appointment unless at the time of such acceptance such
successor Trustee shall be qualified and eligible under this Article.

SECTION 612. Merger, Conversion, Consolidation or Succession to Business.

          Any Person into which the Trustee may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any Person succeeding to all or substantially all the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder, provided such Person
shall be otherwise qualified and eligible under this Article, without the execution or filing of
any paper or any further act on the part of any of the parties hereto. In case any Securities
shall have been authenticated, but not delivered, by the Trustee then in office, any successor by
merger, conversion or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities.

SECTION 613. Preferential Collection of Claims Against Company.

          If and when the Trustee shall be or become a creditor of the Company (or any other obligor
upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act
regarding the collection of claims against the Company (or any such other obligor).

SECTION 614. Appointment of Authenticating Agent.

          The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series
of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities
of such series issued upon original issue and upon exchange,
registration of transfer or partial redemption thereof or pursuant to Section 306, and
Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid
and obligatory for all purposes as if authenticated by the Trustee hereunder.

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Wherever reference
is made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication
and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating
Agent shall be acceptable to the Company and shall at all times be a corporation organized and
doing business under the laws of the United States of America, any State thereof or the District of
Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and
surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State
authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be
its combined capital and surplus as set forth in its most recent report of condition so published.
If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions
of this Section, such Authenticating Agent shall resign immediately in the manner and with the
effect specified in this Section.

          Any corporation into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which such Authenticating Agent shall be a party, or any corporation succeeding to all or
substantially all of the corporate agency or corporate trust business of an Authenticating Agent,
shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible
under this Section, without the execution or filing of any paper or any further act on the part of
the Trustee or the Authenticating Agent.

          An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee
and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by
giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such
a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the Company and shall give
notice of such appointment in the manner provided in Section 106 to all Holders of Securities of
the series with respect to which such Authenticating Agent will serve. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the
rights, powers and duties of its predecessor hereunder, with like effect as if originally named as
an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section.

          The Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section, and the Trustee shall be entitled to be
reimbursed for such payments, subject to the provisions of Section 607.

          If an appointment with respect to one or more series is made pursuant to this Section, the
Securities of such series may have endorsed thereon, in addition to the

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Trustee’s certificate of
authentication, an alternative certificate of authentication in the following form:

          This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

	 	 	 	 	 
	Dated:                    	 	U.S. Bank National Association,

                    
               as Trustee
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	As Authenticating Agent
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Officer

ARTICLE SEVEN

Holders’ Lists and Reports by Trustee and Company

SECTION 701. Company to Furnish Trustee Names and Addresses of Holders.

          The Company will furnish or cause to be furnished to the Trustee

     (1) semi-annually, not later than February 1 and August 1 in each year, commencing August
1, 2010, a list, in such form as the Trustee may reasonably require, of the names and addresses
of the Holders of Securities of each series as of the preceding January 15 or July 15 , as the
case may be, and

     (2) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date not
more than 15 days prior to the time such list is furnished;

excluding from any such list names and addresses received by the Trustee in its capacity as
Security Registrar.

SECTION 702. Preservation of Information; Communications to Holders.

          The Trustee shall preserve, in as current a form as is reasonably practicable, the names and
addresses of Holders contained in the most recent list furnished to the Trustee as provided in
Section 701 and the names and addresses of Holders received by the Trustee in its capacity as
Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 701
upon receipt of a new list so furnished.

          The rights of Holders to communicate with other Holders with respect to their rights under
this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee,
shall be as provided by the Trust Indenture Act.

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          Every Holder of Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held
accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act.

SECTION 703. Reports by Trustee.

          So long as any Securities remain outstanding, the Trustee shall transmit to Holders such
reports concerning the Trustee and its actions under this Indenture as may be required pursuant to
the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by
Section 313(a) of the Trust Indenture Act, the Trustee shall, within sixty days after each May 15,
beginning with the May 15 following the date of this Indenture deliver to Holders a brief report,
dated as of such May 15, which complies with the provisions of such Section 313(a) (but if no event
described in Section 313(a) has occurred within the 12 months preceding the reporting date, no such
report need be transmitted). The Trustee also shall comply with Section 313(b)(2) of the Trust
Indenture Act (to the extent that it is applicable) and shall also transmit by mail all reports as
required by Section 313(c) of the Trust Indenture Act.

          A copy of each such report shall, at the time of such transmission to Holders, be filed by the
Trustee with each stock exchange upon which any Securities are listed, with the Commission and with
the Company. The Company will notify the Trustee when any Securities are listed on any stock
exchange or delisted therefrom.

SECTION 704. Reports by Company.

          The Company shall:

     (1) file with the Trustee, within 30 days after the Company is required to file the same
with the Commission, copies of the annual reports and of the information, documents and other
reports (or copies of such portions of any of the foregoing as the Commission may from time to
time by rules and regulations prescribe) which the Company may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the Exchange Act;

     (2) file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such additional information, documents and
reports with respect to compliance by the Company with the conditions and covenants of this
Indenture as may be required from time to time by such rules and regulations; and

     (3) transmit to all Holders, as their names and addresses appear in the Security Register
within 30 days after the filing thereof with the Trustee, in the manner and to the extent
provided in Trust Indenture Act Section 313(c), such summaries of any information, documents
and reports (if not publicly filed with the Commission on EDGAR or on such other publicly
available electronic filing medium as may be established by the Commission) required to be
filed by the Company pursuant to Subsections (1) and (2) of this Section as may be required by
rules and regulations

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prescribed from time to time by the Commission. Delivery of reports,
information and documents to the Trustee under this Section 704 is for informational
purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive
notice of any information contained therein or determinable from information contained therein,
including the Company’s compliance with any of their covenants hereunder (as to which the
Trustee is entitled to rely exclusively on Officers’ Certificates).

ARTICLE EIGHT

Consolidation, Merger, Conveyance, Transfer or Lease 

SECTION 801. Company May Consolidate, Etc., Only on Certain Terms. The Company shall not
consolidate with, merge with or into, or sell, convey, transfer, lease or otherwise dispose of all
or substantially all of the property and assets of the Company (in one transaction or a series of
related transactions) to, any Person or permit any Person to merge with or into it unless:

     (1) The Company shall be the continuing Person, or the Person (if other than the Company)
formed by such consolidation or into which the Company is merged or that acquired or leased
such property and assets (the “Surviving Person”), shall be a corporation, partnership, limited
liability company or trust organized and validly existing under the laws of the United States
of America or any jurisdiction thereof, and shall expressly assume, by a supplemental
indenture, executed and delivered to the Trustee, all of the Company’s obligations under this
Indenture and the Securities;

     (2) immediately after giving effect to such transaction, no Default or Event of Default
shall have occurred and be continuing; and

     (3) the Company delivers to the Trustee an Officers’ Certificate and Opinion of Counsel,
in each case stating that such consolidation, merger or transfer and such supplemental
indenture complies with this Section 801 and that all conditions precedent provided for herein
relating to such transaction have been complied with.

SECTION 802. Successor Substituted.

          Upon any consolidation or merger, or any sale, conveyance, transfer, lease or other
disposition of all or substantially all of the property and assets of the Company in accordance
with Section 801 of this Indenture, the successor Person formed by such
consolidation or into which the Company is merged or to which such sale, conveyance, transfer,
lease or other disposition is made shall succeed to and be substituted for, and may exercise every
right and power of, the Company under this Indenture with the same effect as if such successor
Person had been named as the Company; provided that the Company shall not be released from its
obligation to pay the principal of, premium, if any, or interest on the Securities in the case of a
lease of all or substantially all of its property and assets.

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ARTICLE NINE

Supplemental Indentures

SECTION 901. Supplemental Indentures Without Consent of Holders.

          Without the consent of any Holders, the Company, when authorized by a Board Resolution, and
the Trustee, at any time and from time to time, may enter into one or more indentures supplemental
hereto, in form satisfactory to the Trustee, for any of the following purposes:

     (1) to evidence the succession of another Person to the Company and the assumption by any
such successor of the covenants of the Company herein and in the Securities contained, all as
provided in Article Eight; or

     (2) to add to the covenants of the Company for the benefit of the Holders of all or any
series of Securities (and if such covenants are to be for the benefit of less than all series
of Securities, stating that such covenants are expressly being included solely for the benefit
of such series) or to surrender any right or power herein or in the Securities conferred upon
the Company; or

     (3) to add any additional Events of Default for the benefit of the Holders of all or any
series of Securities (and if such additional Events of Default are to be for the benefit of
less than all series of Securities, stating that such additional Events of Default are
expressly being included solely for the benefit of such series); or

     (4) to add to or change any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not
registrable as to principal, and with or without interest coupons, or to permit or facilitate
the issuance of Securities in uncertificated form; or

     (5) to add to, change or eliminate any of the provisions of this Indenture in respect of
one or more series of Securities, provided, however, that any such addition, change or
elimination (A) shall neither (i) apply to any Security of any series created prior to the
execution of such supplemental indenture and entitled to the benefit of such provision nor (ii)
modify the rights of the Holder of any such Security with respect to such provision or (B)
shall become effective only when there are no Securities of any series Outstanding; or

     (6) to secure the Securities; or

     (7) to establish the form or terms of Securities of any series as permitted by Sections
201 and 301; or

     (8) to evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or change any of the
provisions of this Indenture as shall be necessary to provide for or

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facilitate the
administration of the trusts hereunder by more than one Trustee, pursuant to the requirements
of Section 611; or

     (9) to cure any ambiguity, omission or defect; or

     (10) to make any modifications or add other provisions; provided that such action shall
not adversely affect the interests of the Holders of Securities of any series;

     (11) to comply with the requirements of the Commission either to effect or maintain the
qualifications of this Indenture under the Trust Indenture Act; or

     (12) to conform text of this Indenture or the Securities to the applicable description of
the Securities in the prospectus or any other offering document to the extent that such
description in the prospectus or offering document was intended to be a verbatim recitation of
a provision of this Indenture or the Securities.

SECTION 902. Supplemental Indentures with Consent of Holders.

          With the consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series affected by such supplemental indenture, by Act of said
Holders delivered to the Company and the Trustee, the Company, when authorized by a Board
Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Indenture applicable to such series of Securities or of modifying in any manner the rights
of the Holders of Securities of such series of Securities under this Indenture; provided, however,
that no such supplemental indenture shall, without the consent of the Holder of each Outstanding
Security affected thereby,

     (1) change the Stated Maturity of the principal of, or any installment of principal of or
interest on, any Security, or reduce the principal amount thereof or the rate of interest
thereon, or any premium payable upon the redemption thereof, or reduce the amount of the
principal of an Original Issue Discount Security or any other Security which would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or
change any Place of Payment where, or the coin or currency in which, any Security or any
premium or interest thereon is payable, or
impair the right of any Holder to institute suit for the enforcement of any such right or
payment,

     (2) reduce the percentage in principal amount of the Outstanding Securities of any series,
the consent of whose Holders is required for any such supplemental indenture, or the consent of
whose Holders is required for any waiver (of compliance with certain provisions of this
Indenture or certain defaults hereunder and their consequences) provided for in this Indenture,

     (3) except as otherwise permitted under Section 801, consent to the assignment or transfer
by the Company of any of its rights or obligations under this Indenture, or

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     (4) modify any of the provisions of this Section or Section 513, except to increase any
such percentage or to provide that certain other provisions of this Indenture cannot be
modified or waived without the consent of the Holder of each Outstanding Security affected
thereby.

A supplemental indenture which changes or eliminates any covenant or other provision of this
Indenture which has expressly been included solely for the benefit of one or more particular series
of Securities, or which modifies the rights of the Holders of Securities of such series with
respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series.

          It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve
the substance thereof.

SECTION 903. Execution of Supplemental Indentures.

          In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall receive, and (subject to Section 601) shall be fully protected in relying upon, an
Officers’ Certificate and an Opinion of Counsel stating that the execution of such supplemental
indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be
obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights,
duties or immunities under this Indenture or otherwise.

SECTION 904. Effect of Supplemental Indentures.

          Upon the execution of any supplemental indenture under this Article, this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and the Company, the Trustee and
every Holder of Securities theretofore or thereafter authenticated and delivered hereunder
shall be bound thereby.

SECTION 905. Conformity with Trust Indenture Act.

          Every supplemental indenture executed pursuant to this Article shall conform to the
requirements of the Trust Indenture Act.

SECTION 906. Notice of Supplemental Indenture; Reference in Securities to Supplemental Indentures.

          After any supplemental indenture entered into pursuant to this Article becomes effective, the
Company shall mail to Holders a notice briefly describing such supplemental indenture. The failure
to give such notice to all Holders, or any defect therein, shall not impair or affect the validity
of any such supplemental indenture under this Article.

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          Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of any series so modified as to conform, in the opinion
of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities
of such series.

ARTICLE TEN

Covenants

SECTION 1001. Payment of Principal, Premium and Interest.

          The Company covenants and agrees for the benefit of each series of Securities that it will
duly and punctually pay the principal of and any premium and interest on the Securities of that
series in accordance with the terms of the Securities and this Indenture.

SECTION 1002. Maintenance of Office or Agency.

          The Company will maintain in each Place of Payment for any series of Securities an office or
agency (which may be an office of the Trustee or an affiliate of the Trustee, Security Registrar or
Co-Security Registrar) where Securities of that series may be
presented or surrendered for payment, where Securities of that series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon the Company in
respect of the Securities of that series and this Indenture may be served. The Company will give
prompt written notice to the Trustee of the location, and any change in the location, of such
office or agency. If at any time the Company shall fail to maintain any such required office or
agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee,
and the Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands.

          The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in each Place of Payment for Securities of any series for such purposes. The Company will
give prompt written notice to the Trustee of any such designation or rescission and of any change
in the location of any such other office or agency.

SECTION 1003. Money for Securities Payments to Be Held in Trust.

          If the Company shall at any time act as its own Paying Agent with respect to any series of
Securities, it will, on or before each due date of the principal of or any premium or interest on
any of the Securities of that series, segregate and hold in trust for the benefit of the Persons
entitled thereto a sum sufficient to pay the principal and any

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premium and interest so becoming due
until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will
promptly notify the Trustee of its action or failure so to act.

          Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, prior to each due date of the principal of or any premium or interest on any Securities of
that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held
as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company
will promptly notify the Trustee of its action or failure so to act.

          The Company will cause each Paying Agent for any series of Securities other than the Trustee
to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the
Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply with the
provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the
continuance of any default by the Company (or any other obligor upon the Securities of that series)
in the making of any payment in respect of the Securities of that series, upon the written request
of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for
payment in respect of the Securities of that series.

          The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

          Subject to applicable abandoned property laws, any money deposited with the Trustee or any
Paying Agent, or then held by the Company, in trust for the payment of the principal of or any
premium or interest on any Security of any series and remaining unclaimed for two years after such
principal, premium or interest has become due and payable shall be paid to the Company on Company
Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of
such Security shall thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust
money, and all liability of the Company as trustee thereof, shall thereupon cease; provided,
however, that the Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in a newspaper published in the
English language, customarily published on each Business Day and of general circulation in New
York, New York, notice that such money remains unclaimed and that, after a date specified therein,
which shall not be less than 30 days from the date of such publication, any unclaimed balance of
such money then remaining will be repaid to the Company.

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SECTION 1004. Statement by Officers as to Default.

          The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of
the Company ending after the date hereof, an Officers’ Certificate, stating whether or not to the
best knowledge of the signers thereof, the Company is in default in the performance and observance
of any of the terms, provisions and conditions of this Indenture (without regard to any period of
grace or requirement of notice provided hereunder) and, if the Company is in default, specifying
all such defaults and the nature and status thereof of which it may have knowledge. The Company
shall, so long as any of the Securities are Outstanding, deliver to the Trustee, forthwith upon any
executive officer of the Company becoming aware of any default or Event of Default in respect of
the performance or observance of any covenant, agreement or condition contained in this Indenture
or the Securities, but in any event not later than twenty Business Days after the occurrence
thereof, an Officers’ Certificate specifying such default or Event of Default and what action the
Company is taking or proposes to take with respect thereto.

SECTION 1005. Existence.

          Subject to Article Eight, the Company will do or cause to be done all things necessary to
preserve and keep in full force and effect its existence, rights (charter and statutory) and
franchises; provided, however, that the Company shall not be required to preserve any such right or
franchise if the Company shall determine that the preservation thereof is no longer desirable in
the conduct of the business of the Company and that the loss thereof is not disadvantageous in any
material respect to the Holders.

SECTION 1006. Maintenance of Properties.

          The Company will cause all material properties used or useful in the conduct of its business
or the business of any Subsidiary to be maintained and kept in good condition, repair and working
order (reasonable wear and tear excepted) and supplied with all necessary equipment and will cause
to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all
as in the judgment of the Company may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times; provided, however, that
nothing in this Section shall prevent the Company from discontinuing the operation or maintenance
of any of such properties, or disposing of any of them, if such discontinuance or disposal is, in
the judgment of the Company, desirable in the conduct of its business or the business of any
Subsidiary and not disadvantageous in any material respect to the Holders.

SECTION 1007. Payment of Taxes and Other Claims.

          The Company will pay or discharge or cause to be paid or discharged, before the same shall
become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the
Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary,
and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a
lien upon the property of the

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Company or any Subsidiary; provided, however, that the Company shall
not be required to pay or discharge or cause to be paid or discharged any such tax, assessment,
charge or claim whose amount, applicability or validity is being contested in good faith by
appropriate proceedings.

SECTION 1008. [Intentionally Omitted].

SECTION 1009. Calculation of Original Issue Discount.

          The Company shall provide to the Trustee on a timely basis such information as the Trustee
requires to enable the Trustee to prepare and file any form required to be submitted by the Company
with the Internal Revenue Service and the Holders of the Notes relating to original issue discount,
including, without limitation, Form 1099-OID or any successor form.

SECTION 1010. Limitation on Liens.

          The Company will not, and will not permit any of its Subsidiaries to, create, incur, assume or
otherwise cause or suffer to exists or become effective any Lien of any kind (other than Permitted
Liens) on any property or assets, now owned or hereafter acquired, to secure any indebtedness of
the Company, its Subsidiaries or any indebtedness of any other Person, unless the Company or such
Subsidiary also secure all payments due under this Indenture and all Securities of any series
having the benefit of this Section, on an equal and ratable basis with such other indebtedness so
secured (or, in the case of indebtedness subordinated to the Securities, prior or senior thereto,
with the same relative priority as the Securities of any other series issued pursuant to this
Indenture, will have with respect to such subordinated indebtedness) for so long as such other
indebtedness shall be so secured, except the foregoing restriction shall not apply to (“Permitted
Liens”):

     (1) Liens existing on the date of issuance of the first Security in any series;

     (2) Liens on property owned or leased by a Person existing at the time such Person is
merged with or into or consolidated with the Company or any Subsidiary of the Company; provided
that such Liens were in existence prior to the contemplation of such merger or consolidation
and do not extend to any assets other than those of the Person merged into or consolidated with
the Company or such Subsidiary;

     (3) Liens on property existing at the time of acquisition thereof by the Company or any
Subsidiary of the Company; provided that such Liens were in existence prior to the
contemplation of such acquisition and do not extend to any property other than the property so
acquired by the Company or such Subsidiary;

     (4) Liens to secure indebtedness incurred prior to, at the time of or within 12 months
after the acquisition of any property or the completion of the construction, alteration, repair
or improvement of any property, as the case may be, for the purpose

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of financing all or a part
of the purchase price or cost thereof and Liens to the extent they secure indebtedness in
excess of such purchase price or cost and for the payment of which recourse may be had only
against such property;

     (5) certain Liens in favor of or required by contracts with governmental entities;

     (6) any Lien securing indebtedness of a Subsidiary owing to the Company or to one or more
of the Subsidiaries of the Company;

     (7) any extension, renewal or replacement (or successive extensions, renewals or
replacements) in whole or in part of any Lien referred to in clauses (1) through (6) above,
inclusive, so long as (a) the principal amount of the indebtedness secured thereby does not
exceed the principal amount of indebtedness so secured at the time of the extension, renewal or
replacement (except that, where an additional principal amount of indebtedness is incurred to
provide funds for the completion of a specific project, the additional principal amount, and
any related financing costs, may be secured by the Lien as well) and (b) the Lien is limited to
the same property subject to the Lien so extended, renewed or replaced (and improvements on the
property); and

     (8) any Lien that would not otherwise be permitted by clauses (1) through (7) above,
inclusive, securing indebtedness which, together with:

          (A) the aggregate outstanding principal amount of all other indebtedness of
the Company and its Subsidiaries owning property which would otherwise be subject
to the foregoing restrictions, and

          (B) the aggregate Value of existing Sale and Leaseback Transactions which
would be subject to the foregoing restrictions absent this clause,

does not exceed the greater of $350 million or 15% of the Consolidated Net Tangible Assets of
the Company.

     SECTION 1011. Limitation on Sale and Leaseback Transactions. The Company will not, and will
not permit any of its Subsidiaries to, enter into any Sale and Leaseback Transaction unless:

     (1) the Company or such Subsidiary could incur indebtedness, in a principal amount at
least equal to the Value of such Sale and Leaseback Transaction, secured by a Lien on the
property to be leased (without equally and ratably securing the Securities) because such Lien
would be of a character that no violation of Section 1010 would result; or

     (2) the Company applies, during the 270 days following the effective date of the Sale and
Leaseback Transaction, an amount equal to the Value of the Sale and Leaseback Transaction to
the voluntary retirement of Funded Debt or to the acquisition of property.

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ARTICLE ELEVEN

Redemption of Securities

SECTION 1101. Applicability of Article.

          Securities of any series which are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 301
for such Securities) in accordance with this Article.

SECTION 1102. Election to Redeem; Notice to Trustee.

          The election of the Company to redeem any Securities shall be evidenced by a Board Resolution
or in another manner specified as contemplated by Section 301 for such Securities. In case of any
redemption at the election of the Company of less than all the Securities of any series (including
any such redemption affecting only a single Security), the Company shall, at least 15 days prior to
the notification of Holders (which shall be at least 15 days but no more than 60 days prior to the
Redemption Date) of the Redemption Date fixed by the Company (unless a shorter notice shall be
satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount
of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to
be redeemed and provide the Trustee with a copy of the complete notice of redemption containing the
information required by Section 1104 of this Indenture. In the case of any redemption of
Securities prior to the expiration of any restriction on such redemption provided in the terms of
such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an
Officers’ Certificate evidencing compliance with such restriction.

SECTION 1103. Selection by Trustee of Securities to Be Redeemed.

          If less than all the Securities of any series are to be redeemed (unless all the Securities of
such series and of a specified tenor are to be redeemed or unless such redemption affects only a
single Security), the particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not
previously called for redemption, by such method that the Trustee shall deem fair and appropriate
and which may provide for the selection for redemption of a portion of the principal amount of any
Security of such series unless otherwise required by law or applicable stock exchange or depositary
requirements, provided, however, that the unredeemed portion of the principal amount of any
Security shall be in an authorized denomination (which shall not be less than the minimum
authorized denomination) for such Security. If less than all the Securities of such series and of
a specified tenor are to be redeemed (unless such redemption affects only a single Security), the
particular Securities to be redeemed shall be selected not
more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities
of such series and specified tenor not previously called for redemption in accordance with the
preceding sentence.

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          The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption as aforesaid and, in case of any Securities selected for partial redemption as
aforesaid, the principal amount thereof to be redeemed.

          The provisions of the two preceding paragraphs shall not apply with respect to any redemption
affecting only a single Security, whether such Security is to be redeemed in whole or in part. In
the case of any such redemption in part, the unredeemed portion of the principal amount of the
Security shall be in an authorized denomination (which shall not be less than the minimum
authorized denomination) for such Security.

          For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to
be redeemed only in part, to the portion of the principal amount of such Securities which has been
or is to be redeemed.

SECTION 1104. Notice of Redemption.

          Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than
30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed,
at his address appearing in the Security Register.

          All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price,

     (3) if less than all the Outstanding Securities of any series consisting of more than a
single Security are to be redeemed, the identification (and, in the case of partial redemption
of any such Securities, the principal amounts) of the particular Securities to be redeemed and,
if less than all the Outstanding Securities of any series consisting of a single Security are
to be redeemed, the principal amount of the particular Security to be redeemed,

     (4) that on the Redemption Date the Redemption Price, and accrued interest, if any, will
become due and payable upon each such Security to be redeemed and, if applicable, that interest
thereon will cease to accrue on and after said date,

     (5) the place or places where each such Security is to be surrendered for payment of the
Redemption Price,

     (6) that the redemption is for a sinking fund, if such is the case, and

     (7) the CUSIP and/or other similar number as contemplated by, and containing the
disclaimers and other language contemplated by, and containing the disclaimers and other
language contemplated by, Section 311.

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          Notice of redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of
the Company and shall be irrevocable.

SECTION 1105. Deposit of Redemption Price.

          On or prior to 10:00 a.m., New York City time, on any Redemption Date, the Company shall
deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to
pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date)
accrued interest on, all the Securities which are to be redeemed on that date.

SECTION 1106. Securities Payable on Redemption Date.

          Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from
and after such date (unless the Company shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company
at the Redemption Price, together with accrued interest to the Redemption Date; provided, however,
that, unless otherwise specified as contemplated by Section 301, installments of interest whose
Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such
Securities, or one or more Predecessor Securities, registered as such at the close of business on
the relevant Record Dates according to their terms and the provisions of Section 307.

          If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date
at the rate prescribed therefor in the Security.

SECTION 1107. Securities Redeemed in Part.

          Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or his attorney duly authorized in writing),
and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of
such Security without service charge, a new Security or Securities of the same series and of like
tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount
equal to and in exchange for the unredeemed portion of the principal of the Security so
surrendered.

62

 

ARTICLE TWELVE

Sinking Funds

     SECTION 1201. Applicability of Article.

          The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of any series except as otherwise specified as contemplated by Section 301 for such
Securities.

          The minimum amount of any sinking fund payment provided for by the terms of any Securities is
herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum
amount provided for by the terms of such Securities is herein referred to as an “optional sinking
fund payment”. If provided for by the terms of any Securities, the cash amount of any sinking fund
payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall
be applied to the redemption of Securities as provided for by the terms of such Securities.

SECTION 1202. Satisfaction of Sinking Fund Payments with Securities.

          The Company (1) may deliver Outstanding Securities of a series (other than any previously
called for redemption) and (2) may apply as a credit Securities of a series which have been
redeemed either at the election of the Company pursuant to the terms of such Securities or through
the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with
respect to any Securities of such series required to be made pursuant to the terms of such
Securities as and to the extent provided for by the terms of such Securities; provided, however,
that the Securities to be so credited have not been previously so credited. The Securities to be
so credited shall be received and credited for such purpose by the Trustee at the Redemption Price,
as specified in the Securities so to be redeemed, for redemption through operation of the sinking
fund and the amount of such sinking fund payment shall be reduced accordingly.

SECTION 1203. Redemption of Securities for Sinking Fund.

          Not less than 90 days prior to each sinking fund payment date for any Securities, the Company
will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing
sinking fund payment for such Securities pursuant to the terms of such Securities, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which
is to be satisfied by delivering and crediting Securities pursuant to Section 1202 and will also
deliver to the Trustee any Securities to be so delivered. Not less than 45 days prior to each such
sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking
fund payment date in the manner specified in Section 1103 and cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the manner provided in
Section 1104. Such notice having been duly given, the redemption of such Securities shall be made
upon the terms and in the manner stated in Sections 1106 and 1107.

63

 

ARTICLE THIRTEEN

Defeasance and Covenant Defeasance

SECTION 1301. Company’s Option to Effect Defeasance or Covenant Defeasance.

          The provisions of this Article Thirteen shall apply to each series of Securities, and the
Company may, at its option, effect defeasance of the Securities of or within a series under Section
1302, or covenant defeasance of the Securities of or within a series under Section 1303, in
accordance with the terms of such Securities and in accordance with this Article Thirteen.

SECTION 1302. Defeasance and Discharge.

          Upon the Company’s exercise of the option provided in Section 1301 applicable to this Section
1302 with respect to any Securities or any series of Securities, as the case may be, the Company
shall be deemed to have been discharged from its obligations with respect to such Securities as
provided in this Section on and after the date the conditions set forth in Section 1304 are
satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the
Company shall be deemed to have paid and discharged the entire indebtedness represented by such
Securities and to have satisfied all its other obligations under such Securities and this Indenture
insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall
execute proper instruments acknowledging the same), subject to the following which shall survive
until otherwise terminated or discharged hereunder: (1) the rights of Holders of such Securities
to receive, solely from the trust fund described in Section 1304 and as more fully set forth in
such Section, payments in respect of the principal of and any premium and interest on such
Securities when payments are due, (2) the Company’s obligations with respect to such Securities
under Sections 304, 305, 306, 1002 and 1003 and with
respect to the Trustee, including but not limited to those under Section 607, (3) the rights,
powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article. Subject to
compliance with this Article, the Company may exercise its option under this Section 1302
notwithstanding the prior exercise of its option under Section 1303.

SECTION 1303. Covenant Defeasance.

          Upon the Company’s exercise of the option provided in Section 1303 applicable to this Section
1303 with respect to any Securities of or within a series of Securities, as the case may be, (1)
the Company shall be released from its obligations under Sections 1006, 1007, 1010 and 1011, and
any covenants provided pursuant to Sections 301(18) or 901(2) for the benefit of the Holders of
such Securities and (2) the occurrence of any event specified in Section 501(4) (with respect to
any of Sections 1006, 1007, 1010 and 1011, and any such covenants provided pursuant to Section
301(18) or 901(2) and 501(8) shall be deemed not to be or result in an Event of Default, in each
case with respect to such Securities as provided in this Section on and after the date the
conditions set forth in

64

 

Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For
this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may
omit to comply with and shall have no liability in respect of any term, condition or limitation set
forth in any such specified Section (to the extent so specified in the case of Section 501(4)),
whether directly or indirectly by reason of any reference elsewhere herein to any such Section or
by reason of any reference in any such Section to any other provision herein or in any other
document, but the remainder of this Indenture and such Securities shall be unaffected thereby.

SECTION 1304. Conditions to Defeasance or Covenant Defeasance.

          The following shall be the conditions to the application of Section 1302 or Section 1303 to
any Securities or any series of Securities, as the case may be:

     (1) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee which satisfies the requirements contemplated by Section 609 and
agrees to comply with the provisions of this Article applicable to it) as trust funds in trust
for the purpose of making the following payments, specifically pledged as security for, and
dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or
(B) U.S. Government Obligations which through the scheduled payment of principal and interest
in respect thereof in accordance with their terms will provide, not later than one day before
the due date of any payment, money in an amount, or (C) a combination thereof, in each case
sufficient, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge,
and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and
discharge, the principal of and any premium and
interest and any other payment on such Securities on the respective Stated Maturities or
on the applicable redemption date, as the case may be, in accordance with the terms of this
Indenture and such Securities. As used herein, “U.S. Government Obligation” means (x) (i) any
security which is a direct obligation of the United States of America for the payment of which
the full faith and credit of the United States of America is pledged or (ii) an obligation of a
Person controlled or supervised by and acting as an agency or instrumentality of the United
States of America the payment of which is unconditionally guaranteed as a full faith and credit
obligation by the United States of America, which, in either case (i) or (ii), is not callable
or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a
bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any
U.S. Government Obligation which is specified in clause (x) above and held by such bank for the
account of the holder of such depositary receipt, or with respect to any specific payment of
principal of or interest on any U.S. Government Obligation which is so specified and held,
provided, however, that (except as required by law) such custodian is not authorized to make
any deduction from the amount payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the U.S. Government Obligation or the specific payment
of principal or interest evidenced by such depositary receipt.

65

 

     (2) In the event of an election under Section 1302, the Company shall have delivered to
the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has
been published by, the Internal Revenue Service a ruling or (B) since the date of this
instrument, there has been a change in the applicable Federal income tax law, in either case
(A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders
of such Securities will not recognize gain or loss for Federal income tax purposes as a result
of the deposit, Defeasance and discharge to be effected with respect to such Securities and
will be subject to Federal income tax on the same amount, in the same manner and at the same
times as would be the case if such deposit, Defeasance and discharge were not to occur.

     (3) In the event of an election under Section 1303, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not
recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant
Defeasance to be effected with respect to such Securities and will be subject to Federal income
tax on the same amount, in the same manner and at the same times as would be the case if such
deposit and Covenant Defeasance were not to occur.

     (4) The Company shall have delivered to the Trustee an Officers’ Certificate to the effect
that neither such Securities nor any other Securities of the same series, if then listed on any
securities exchange, will be delisted as a result of such deposit.

     (5) No event which is, or after notice or lapse of time or both would become, an Event of
Default with respect to such Securities or any other Securities shall have occurred and be
continuing at the time of such deposit or, with regard to any such event specified in Sections
501(6) and (7), at any time on or prior to the 90th day after
the date of such deposit (it being understood that this condition shall not be deemed
satisfied until after such 90th day).

     (6) Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a
conflicting interest within the meaning of the Trust Indenture Act (assuming all Securities are
in default within the meaning of such Act).

     (7) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of,
or constitute a default under, any other agreement or instrument to which the Company is a
party or by which it is bound.

     (8) Such Defeasance or Covenant Defeasance shall not result in the trust arising from such
deposit constituting an investment company within the meaning of the Investment Company Act
unless such trust shall be registered under such Act or exempt from registration thereunder.

     (9) The Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance
or Covenant Defeasance have been complied with.

66

 

SECTION 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous
Provisions.

          Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee pursuant to Section 1304 in
respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the
provisions of such Securities and this Indenture, to the payment, either directly or through any
such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Holders of such Securities, of all sums due and to become due thereon in respect
of principal and any premium and interest and any other payment on the Securities, but money so
held in trust need not be segregated from other funds except to the extent required by law.

          The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the U.S. Government Obligations deposited pursuant to Section 1304 or the
principal and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of Outstanding Securities.

          Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to
the Company from time to time upon Company Request any money or U.S. Government Obligations held by
it as provided in Section 1304 with respect to any Securities which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, are in excess of the amount thereof which would then be required to be
deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to such
Securities.

SECTION 1306. Reinstatement.

          If the Trustee or the Paying Agent is unable to apply any money in accordance with this
Article with respect to any Securities by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, then the
obligations under this Indenture and such Securities from which the Company has been discharged or
released pursuant to Section 1302 or 1303 shall be revived and reinstated as though no deposit had
occurred pursuant to this Article with respect to such Securities, until such time as the Trustee
or Paying Agent is permitted to apply all money held in trust pursuant to Section 1305 with respect
to such Securities in accordance with this Article; provided, however, that if the Company makes
any payment of principal of or any premium or interest on any such Security following such
reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the
Holders of such Securities to receive such payment from the money so held in trust.

67

 

ARTICLE FOURTEEN

MISCELLANEOUS PROVISIONS 

SECTION 1401. Originals.

          The exchange of copies of this Indenture and of signature pages by facsimile or PDF
transmission shall constitute effective execution and delivery of this Indenture as to the parties
hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the
parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for
all purposes.

SECTION 1402. Force Majeure

          In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

SECTION 1403. U.S.A. Patriot Act.

          To help the government fight the funding of terrorism and money laundering activities, federal
law requires all financial institutions to obtain, verify and record information that identifies
each person who opens an account. For a non-individual person such as a business entity, a
charity, a trust or other legal entity, the Trustee will ask for documentation to verify its
formation and existence as a legal entity.
The Trustee may also ask to see financial statements, licenses, identification and authorization
documents from individuals claiming authority to represent the entity or other relevant
documentation. The Company agrees to provide all such information and documentation as requested
by the Trustee to ensure compliance with federal law.

 

          This instrument may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the
same instrument.

68

 

     In Witness Whereof, the parties hereto have caused this Indenture to be duly
executed as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	LIFE TECHNOLOGIES CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ David F. Hoffmeister
 

David F. Hoffmeister
	 	 
	 

	 	Title:
	 	Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Attest:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ David H. Smith
 

David H. Smith
	 	 
	 

	 	Title:
	 	Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Paula Oswald
 

Paula Oswald
	 	 
	 

	 	Title:
	 	Vice President	 	 

Indenture

 

 

EXHIBIT A

[FORM OF FACE OF SECURITY]

LIFE TECHNOLOGIES CORPORATION

[Global Securities Legend]

THIS GLOBAL SECURITY IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITARY (AS DEFINED IN THE
INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A
PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS
GLOBAL SECURITY MAY BE EXCHANGED PURSUANT TO SECTION 203(a) OF THE INDENTURE, (II) THIS GLOBAL
SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE
AND (III) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN
CONSENT OF THE COMPANY.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

A-1

 

[Form of Face of Security]

LIFE TECHNOLOGIES CORPORATION

[Designation of Series]

CUSIP No.                    

[Other No.                    ]

No.                      $                    

     Life Technologies Corporation, a corporation duly organized and existing under the laws of the
State of Delaware (herein called the “Company”, which term includes any successor Person under the
Indenture hereinafter referred to), for value received, hereby promises to pay to ,      or registered
assigns, the principal sum of      Dollars on      [if the Security is to bear interest prior to Maturity,
insert X, and to pay interest thereon from      or from the most recent
Interest Payment Date to which interest has been paid or duly provided for, semi-annually on     
and      in each year, commencing     
        , to the Persons in whose names the Securities are registered at the close of business on
the immediately preceding      or      , as the case may be, at the rate of      % per
annum, until the principal hereof is paid or made available for payment [if applicable, insert
X , provided, however that any principal and premium, and any such installment of interest,
which is overdue shall bear interest at the rate of      % per annum (to the extent that the
payment of such interest shall be legally enforceable), from the dates such amounts are due until
they are paid or made available for payment, and such interest shall be payable on demand). The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will,
as provided in such Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such
interest, which shall be the      or          
(whether or not a Business Day), as the case may be, next preceding such Interest Payment
Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be
payable to the Holder on such Regular Record Date and may either be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee,
notice whereof shall be given to Holder of Securities of this series not less than 10 days prior to
such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully provided in said
Indenture.][if the Security is not to bear interest prior to Maturity, insert X. The
principal of this Security shall not bear interest except in the case of a default in payment of
principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue
principal and any overdue premium shall bear interest at the rate of      % per annum (to the
extent that the payment of such interest shall be legally enforceable), from the dates such amounts
are due until they are paid or made available for payment. Interest on any overdue principal or
premium shall be payable on demand. [Any such interest on overdue principal or premium which is
not paid on demand shall bear interest at the rate of      % per annum (to the extent that the
payment of such interest on interest shall be legally enforceable), from the date of

A-2

 

such demand until the amount so demanded is paid or made available for payment. Interest on any overdue interest shall be
payable on demand.]]

     Payment of the principal of (and premium, if any) and [if applicable, insert X any such]
interest on this Security will be made at the office or agency of the Company maintained for that
purpose in The City of New York, New York, in such coin or currency of the United States of America
as at the time of payment is legal tender for payment of public and private debts [if applicable,
insert X; provided, however, that at the option of the Company payment of interest may be
made by check mailed to the address of the Person entitled thereto as such address shall appear in
the Security Register].

     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.

A-3

 

     In Witness Whereof, the Company has caused this instrument to be duly executed.

	 	 	 	 	 	 	 
	 	 	LIFE TECHNOLOGIES CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

	 	 	 
	Attest:
	 	 
	 
	 	 
	 

Name:

	 	 
	Title:
	 	 

A-4

 

CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.

Dated:

	 	 	 	 	 	 	 
	 	 	U.S. Bank National Association, as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Signatory
	 	 

A-5

 

[Form of Reverse of Security]

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of ,          
(herein called the “Indenture”, which term shall have the meaning assigned to it in such
instrument), between the Company and U.S. Bank National Association, as Trustee (herein called the
‘“Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the
terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series designated on the face hereof [if applicable, insert X, limited in aggregate
principal amount to $      ].

     [If applicable, insert X The Securities of this series are subject to redemption at any
time, upon not less than 15 days’ and not more than 60 days’ notice by mail, as a whole or from
time to time in part, at the election of the Company [if applicable, insert X (provided,
however, that, if the Company shall have elected pursuant to the Indenture to defease [the entire
indebtedness of this Security] [or] [certain restrictive covenants and Events of Defaults with
respect to this Security], prior to making such election to redeem the Securities it shall have
deposited in trust amounts sufficient to pay the Redemption Price)], on any date prior to their
Stated Maturity at a Redemption Price equal to the greater of (i) 100% of the principal amount of
such Securities to be redeemed, and (ii) the sum of the present values of the Remaining Scheduled
Payments (as defined below) of the Securities to be redeemed, discounted to the Redemption Date on
a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury
Rate (as defined below) plus [  ] basis points, plus, accrued and unpaid interest thereon to the
Redemption Date. Notwithstanding the foregoing, installments of interest on the Securities that
are due and payable on interest payment dates falling on or prior to a Redemption Date will be
payable on the interest payment date to the registered Holders as of the close of business on the
relevant record date according to the Securities and the Indenture.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term of the
Securities to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities to be redeemed.

     “Comparable Treasury Price” means, with respect to any Redemption Date, (a) the average of the
Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and
lowest of the Reference Treasury Dealer Quotations, (b) if fewer than four Reference Treasury
Dealer Quotations are obtained, the arithmetic average of those quotations or (c) if only one
Reference Treasury Dealer Quotation is obtained, such Reference Treasury Dealer Quotation.

A-6

 

     “Independent Investment Banker” means the Reference Treasury Dealer appointed by the Company.

     “Reference Treasury Dealer” means [  ] and their respective successors, or if at any time
any of the above is not a primary U.S. Government securities dealer, any other nationally
recognized investment banking firm selected by us that is a primary U.S. Government securities
dealer, as well as [four] other nationally recognized investment banking firms selected by us that
are primary U.S. Government securities dealers.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the trustee by such Reference Treasury Dealer at 5:00 p.m., New York City
time, on the third Business Day preceding such redemption date.

     “Remaining Scheduled Payments” means, with respect to each Security to be redeemed, the
remaining scheduled payments of the principal thereof and interest thereon that would be due after
the related Redemption Date for such redemption; provided, however, that, if such Redemption Date
is not an Interest Payment Date with respect to such note, the amount of the next succeeding
scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to
such Redemption Date.

     “Treasury Rate” means, for any Redemption Date, the rate per annum equal to the semi-annual
equivalent yield to maturity, computed as the second business day immediately preceding that
redemption date, of the Comparable Treasury Issue, assuming a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price
for that Redemption Date.

     [If applicable, insert X The Securities of this series are subject to redemption upon
not less than 30 days’ notice by mail, [if applicable, insert X (1) on   in any year
commencing with the year   and ending with the year   through operation of the
sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)]
at any time [if applicable, insert X on or after   ], as a whole or in part, at the
election of the Company, at the following Redemption Prices (expressed as percentages of the
principal amount): If redeemed [if applicable, insert X on or before   and if
redeemed] during the 12-month period beginning   of the years indicated,

	 	 	 	 	 	 	 
	Year	 	Redemption Price	 	Year	 	Redemption Price
	 

	 	 
	 	 
	 	 

and thereafter at a Redemption Price equal to   % of the principal amount, together in the
case of any such redemption [if applicable, insert X (whether through operation of the
sinking fund or otherwise)] with accrued interest to the Redemption Date, but interest installments
whose Stated

A-7

 

Maturity is on or prior to such Redemption Date will be payable to the Holders of such
Securities, or one or more Predecessor Securities, of record at the close of business on the
relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]

     [If applicable, insert X The Securities of this series are subject to redemption upon
not less than 30 days’ notice by mail, (1) on  in any year commencing with the year
and ending with the year   through operation of the sinking fund for this series at
the Redemption Prices for redemption through operation of the sinking fund (expressed as
percentages of the principal amount) set forth in the table below, and (2) at any time [if
applicable, insert X on or after  ], as a whole or in part, at the election of the
Company, at the Redemption Prices for redemption otherwise than through operation of the sinking
fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed
during the 12-month period beginning on   of the years indicated,

	 	 	 	 	 
	 	 	Redemption Price for	 	Redemption Price for
	 	 	Redemption through	 	Redemption Otherwise
	 	 	Operation of the	 	than through Operation of
	Year	 	Sinking Fund	 	the Sinking Fund
	 

	 	 
	 	 

and thereafter at a Redemption Price equal to   % of the principal amount, together in the
case of any such redemption (whether through operation of the sinking fund or otherwise) with
accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or
prior to such Redemption Date will be payable to the Holders of such Securities, or one or more
Predecessor Securities, of record at the close of business on the relevant Record Dates referred to
on the face hereof, all as provided in the Indenture.]

     [If applicable, insert X Notwithstanding the foregoing, the Company may not, prior to
        , redeem any Securities of this series as contemplated by [if applicable, insert X
Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation
by the application, directly or indirectly, of moneys borrowed having an interest cost to the
Company (calculated in accordance with generally accepted financial practice) of less than      %
per annum.]

     [If applicable, insert X The sinking fund for this series provides for the redemption on
in each year beginning with the year   and ending with the year  of [if
applicable, insert X not less than $  (“mandatory sinking fund”) and not more than]
$   aggregate principal amount of Securities of this series. Securities of this series
acquired or redeemed by the Company otherwise than through [if applicable, insert X
mandatory] sinking fund payments may be credited against subsequent [if applicable, insert X
mandatory] sinking fund payments otherwise required to be made [if applicable, insert X, in
the inverse order in which they become due].]

     [If the Security is subject to redemption of any kind, insert X In the event of
redemption of this Security in part only, a new Security or Securities of this series and of like
tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the
cancellation hereof.]

A-8

 

     [If applicable, insert X The Indenture contains provisions for defeasance at any time of
[the entire indebtedness of this Security] [or] [certain restrictive covenants and Events of
Default with respect to this Security] [, in each case] upon compliance with certain conditions set
forth in the Indenture.]

     [If the Security is not an Original Issue Discount Security, insert X If an Event of
Default with respect to Securities of this series shall occur and be continuing, the principal of
the Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture.]

     [If the Security is an Original Issue Discount Security, insert X If an Event of Default
with respect to Securities of this series shall occur and be continuing, an amount of principal of
the Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture. Such amount shall be equal to X insert formula for determining
the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of
interest on any overdue principal, premium and interest (in each case to the extent that the
payment of such interest shall be legally enforceable), all of the Company’s obligations in respect
of the payment of the principal of and premium and interest, if any, on the Securities of this
series shall terminate.]

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting
the Holders of specified percentages in principal amount of the Securities of each series at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

     As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the
appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall
have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from
the Holders of a majority in principal amount of Securities of this series at the time
Outstanding a direction inconsistent with such request, and shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The
foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement
of any payment of

A-9

 

principal hereof or any premium or interest hereon on or after the respective due
dates expressed herein.

     No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of and any premium and interest on this Security at the times, place and rate, and in
the coin or currency, herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security may be registered and this Security may be exchanged as provided in the
Indenture.

     The Securities of this series are issuable only in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof.

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

     The Securities of this series shall be governed by and construed in accordance with the laws
of the State of New York (including without limitation Section 5-1401 of the New York General
Obligations Law or any successor to such statute). The Trustee and the Company agree to submit to
the non-exclusive jurisdiction of any United States federal or state court located in the borough
of Manhattan, in the city of New York in any action or proceeding arising out of or relating to the
Securities.

     All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

A-10

 

ASSIGNMENT FORM

To assign this Security, fill in the form below:

I or we assign and transfer this Security to:

 

(Insert assignee’s social security or tax I.D. no.)

 

 

 

 

(Print or type assignee’s name, address and zip code)

and irrevocably appoint as agent to                     
transfer this Security on the books of the Company. The agent may substitute another to act for
him.

 

	 	 	 
	Your Signature:
	 	 
	 

	 	 
	 

	 	(Sign exactly as your name appears on the other side of this Security)

	 	 	 
	Your Name:
	 	 
	 

	 	 

Date:                                        

	 	 	 
	Signature Guarantee:

	 	*
	 

	 	 

 

			
	*	 	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the
following recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion
Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock
Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee.

A-11

 

[TO BE ATTACHED TO GLOBAL SECURITIES]

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY

The following exchanges of an interest in this Global Security for an interest in another Global
Security or for a Definitive Security, or exchanges of an interest in another Global Security or a
Definitive Security for an interest in this Global Security have been made:

	 	 	 	 	 	 	 	 	 
	 	 	Amount of decrease in	 	Amount of increase in	 	Principal Amount of this	 	Signature of authorized
	 	 	Principal Amount of this	 	Principal Amount of this	 	Global Security following	 	signatory of Trustee or
	Date of Exchange	 	Global Security	 	Global Security	 	such decrease or increase	 	Securities Custodian
	 

	 	 
	 	 
	 	 
	 	 

A-12

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